THE CHINA MAIL, WEDNESDAY, FEBRUARY 28, 1951.
MESSAGERIES MARITIMES Mr. Clarke On British Cotton
M
BEAUVAIN"
ARRIVALS from Japan
SAILINGS
M
PASSENGER/FREIGHT SERVICE
"FELIX ROUSSEL" "LA MARSEILLAISE" **LA MARSEILLAISE“
"BEAUVAIS" "MEINAM"
"GRANVILLE"
4th Mar.
to Marseille via Manila 1st Apr. 8th May to Japan
to Marseilles via Manita 19th May
FREIGHT SERVICE
N. Africa & Europe Bth Mai. .N. Africa & Europe 25th Mar, N. Africa & Europe 27th Mar
for
PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN,
TANGIER, CASABLANCA, HAVRE,
ANTWERP & ROTTERDAM,
DUNKIRKL
CIE DES MESSAGERIES MARITIMES
Queen's Building
Tel. 26651 (Three Lines)
WATERMAN
STEAMSHIPBX CORPORATION
MOBILE ALA USA
WATERMAN LINE EXPRESS FREIGHT SERVICE
FROM U.S. ATLANTIC COAST VIA JAPAN
«. ». “KYSKA”
DIRECT FOR
22nd Mar, 1951
NEW YORK, BALTIMORE & PHILADELPHIA VIA JAPAN & HONOLULU.
4. L. “KYSKA”
23rd Mar, 1951
ALSO ACCEPTING TRANSHIPMENT CARGO FOR
GULF PORTS.
WALLEM & CO., LTD.
Agents
Hongkong & Shanghai Bank Building Telephones:-38041-5
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
1
Way Back
(Our Own Correspondent)
London, Feb. 27.
Mr A, G. Clarke, Hong- kong's Director of Com merce and Industry, loft hero by air 'this morning on his way back to the Colony,
Industry Warned: Hint Of Controls
The Cotton Board, has coupled a tribute to the cotton industry's progress in 1950 with a warn- that reorganisation must be hastened to meet growing competitive efficiency overseas.
Since his, arrival: hereing
JAPANESE
COTTON PURCHASES
Tokyo, Feb. 27. The International Trade and
contem
Industry Ministry, is plating the purchase of 212,000 bales of foreign cotton with funds ranging from $60,000,000 to $70,000,000 under the April- Juno foreign currency budget now being worked out, sources close to the Ministry reported
In a trade letter to 5,000 firms it states that it is difficult to think of a year when actual results today. and
were better, but the industry's success was subject
rom Washington; he been having, conversations with high-level officials of the Colonial Office Foreign Office on the em
trade bargo on American with Hongkong. No state. menta kayo been issued but officials stress that the Washington talks are sill going on. Mir Clarke la to Hongkong report to the Government on his return.
AMERICAN
TRADE WITH ASIA
The U.S.
One hundred and six thousand
R.I.L.
ROYAL
INTEROCEAN. LINES
SINGAPORE JAVA PORTS and MACASSAR TJIWANGI" **TASMAN** - • "TJITJALENGKA” "VAN HEUTSZ" *·
ARRIVALS
In Port In Port
16th Mar.
SAILINGS
28th Feb.
Th Max.
In Port
* only to Singapore, Fettang & B. Dell
bales are expected to be im- MANILA, EAST &
to many reservations in view of the general out-ported from the sterling area, look.
foolish to dis- It would bo regard the possibilities of a re- tura of price and material con- trofs if the international situa- tion worsened, it warned.
But there was an important difference between controls in war and controls In a rearma- ment programme, and it was to
the
be hoped that authorities
SHANGHAI
BANK
including 50,000 from Pakistan, 7,000 trom India, and 0,000, from Uganda. Seventy thousand would come from the open account area. Thirty-six thousand would come from non- agreement
2000 from Egpy, including
circles in Industry
Osaka estimated that arrival of raw cotton from abroad during the February-June period will" total
would not yield to the templa- DEPOSITS UP 790,000 bales
tion to think only in terms of what
in the war,
E done
to cope
voluntarily when
The Ministry also decidext to import 20,000 bales of raw wool from Argentina-United Fress.
Jute Supply Adequate
The
Urging the need for the In-
San Francisco, Feb, 27. the
situation dustry to handlo
Peking Radio mid tonight itself, the Board stated: With that deposita in private banks support the trade should in Shanghai bid Increased by be able to organise
voluntary 70 percent between July and priorities for the programme as December last year as com- Washington, Feb. 27,
it now appears to be designed."pared with the previous aix Census Burcau The price Problem, however, months. reported today that US. exports was
difficult more
and the in-
Joans to Asia were up from US$133,- dications were not too reassur-
In the same period 700,000 in November to US$140,-ing as to the
Issued by the banks to help in- ablilty
Karachi, Feb. 27. dustrial and
Arms trading 000,000 in December, but that
it un-
Pakistan Commerce U.S. Imports from Asia declined der inflationary pressure.
represented a 60 per cent rise. In Minister, Mr Fazlur Rehman. from US$188,400,000 to US$177,-
January a further increase of sald here today that after hon- "Restraint in profit margins 200,000.
13 per cent in deposits and is a difficult policy for people to however
per cent in loans was reported, during her commitments to In- reported, dia under the trade agreement Both deposit and lean interest signed here, on Sunday, Pakistan swallow voluntarily, logical the general argument." rates had been reduced between would still be left with plenty
CAPITAL NEEDS
60 to 80 per cent during the of Jute for the past year in Shanghai and world.
Radio added. cltics, the per cent of the banks loans season, which has seen a much went to local industries while a better foreign offlake than any- nited rural and urban traders. Fazlur Rehman added. considerable proportion bene-thing in the last 10 years, Mr
Reuter,
He said: "Next season India's will be the same, quere will be plenty of jute for the rest of the world." The
The Bureau said noticeable increases in exports appeared in two cases shipments to Japan
from up
US$35,200,000 10 US$42,000,000 and shipments to the Philippines up from US$20,- |000,000 16 US$24,300,000.
The decline in overall receipts from Asia was held to be largely the result of decreased imports from India, from US$25,300,000 US$10,000,000. Associated Press.
to
If the industry could work on the voluntary principle and ob- an 80 per cent. loyalty, flexi- would be bility and delivery preserved.
Warning of "Immense efforts and large sums of money" being spent on the cotion Industries of other countries, the Board declared: "We doubt if it is yet fully realised in Lancashire what has to be spent in terms of capital and what has to be done in terms of redeployment
New York Rubber we expect to obtain a major
Futures
share of the available Inter-
national trude and at the same time pay wages at the levels to which we have now become ac- customed."
New York, Fob. 27. Dealing with raw cotton_sup- Crude rubber futures closed | plies, it said the Cotton Board today unchanged to 300 points was "far from happy about the higher, with sales of 11 con- situation." tracts. Ten tons were traded for May delivery at 70 cents a pound. The outside market remained
inactive with ship-
pers und Government buyers still too for apart in their res- pective price ideas.
Izz
The Government
will res- trict the sue of natural rubber some 40,000 civilian pro- ducts, effective on Thursday. open contracts In the
The
futures market at the start of business totalled 116 contracts,
HONGKONG
SHARE - MARKET
including 50 In March -de- The volume of business
livery. 40 in May and 20 in transacted on the Stock Ex-
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, July. All positions must be change this morning was valued
SAN FRANCISCO, LOS ANGELES AND PANAMA
"NEXT" SAILINGS
M.S.
"OLGA' MAERSK”
M.S. "LAURA. MAERSK”,
M.S: "HULDA MAERSK”.
liquidated bỷ March 31.
Prices closed today follows:
In Port
Spot March May
July
Mar. 15 Mar 80
TANKS OF ALL SIZES AVAILABLE FOR BULK OIL Rubber
ARRIVALS FROM U.S.A.
M.S. "TREIN MAERSK” M.S.
"PETER MAERSK"
MS. “LEXA MAERSK”
14.00
20.00
at $101,025. The half day's
as business and noon closing prices
-were-as-followin
73.00 bld
BILARES BUYERS. SELLERS BALES
GOVT. LOANS
336% (1048).
63.00 bid BANKS
United Press.
Futures
Mar. 14
·
Mar. 23
In Singapore
Apr. 21
For Freights and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
LOW PRICES
Calculators, Typewriters
Carbons & Ribbons
The World Typewriter Co. 40, Wellington St., Tel; 20506.
Repairing Service,
St. John Ambulance Brigade
FREE AMBULANCE SERVICE
Tol. Hongkong 35035
Kowloon
50000
Tel. Nos. 26661-3.
IT'S AZALEA TIME!
COME AND SEE THE DISPLAY IN OUR WINDOW
The CLOVER, LOWER SHOP Gloucester Arcado
GREAT SALE
RUGS
PALACE RUG CO.
4. Granville Rd., 1st FL -
Kowloon.
Singapore, Feb, 27.
HK Bank INSURANCES
50,000 @ 0016
..1230
600
25 570
5.00
1231⁄2
Union ...... LAND, ETC.
HK Hotel.. UTILITIES
Tram
20
Star: Ferry C. Light (0) 8.00
100 1134
1000 @ 0
(B) 5.90 1000 6.50 Electric 2215 300 @ 3 400 # 23 INDUSTRIALS
Rope **
12 STORES, ETC.
Dairy
1311 Watson 2014-22014
Dairy (N) 11%
Crawford 2335
Prices ot rubber futures closed here today as follows:- Number 1 rubber, per lb.
February
March
224-225
Number 2 rubber.
February
+221
Number 3. rubber.
February
207 -208
Number 4 rubb
February
Spot rubber, unbaled Black crepe No. 1 pale crepa
-200 -234 -United Press.
New York Sugar Futures
COTTONS
Ewo
2.65
600 22%
Raw Materials Conference
Washington, Feb. 27. Mr William Thorp, Assistant Secretary of State for Economic Affairs, told the first meeting of the International Materials Con ference Committee on copper, New York, Feb. 27. zine and lead that their alloca- World sugar
futures closed |tion recommendations would today 4 to 11 lower, with sales have to be confirmed by the totalling 020 contracts,
become home governments to
Contract No. @ closed today 3 effective,
to 7 lower, with sales totaling A diplomatic official who m- 274 contracts,
ported the substance of Mr
Prices closed today as fol- Thorp's remarks said, two sub-
tows:
Contract No. 4 (world)
MAY
March
July
September
Spat
Contract No.
-May July September Spnt
committees were appointed to draw up the rules of procedure $.30 nominal and set a programma of the 026 bid 3.28 14: | work—Ünited-Press.
B. traded
5.27
"B.48 bid 8.57 big
5.67 bid
5.00 Vaitou Preis.
Pacific Far East Line, Inc.
Fast Rogulay Trans-Pacific Servico
SAN
∙LON. ANGELES
Wyom
Atradit
Siteriju
OVERLAND
NEW YORK-CHICAON, DETROIT-TOKONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES
Nagora &.
Artives
For
Mar.
Ben Francisc
·
Mar. 110
Yokohama
Apr.
„Ban Brákéfabb. Yokoliaina
other
It also said that more than 50
Grain Price
In
Test of the
India will get about 2,500,000 bales of jute in the current
BO
Price Minister added that jute would
Chicago
Chicago, Feb. 27.
Prices of grain futures closed here today as follows:-
Wheat-price per bushel.
2.44
Spo
March May
July
September December
Corn
Spot
2.4334-36
2,402,4334 |
2.404-34
2.6114-3
be sold to India at negotiated prices and not at the minima Axed by the Government.- Reuter.
Jap-Built Ship
For India
"Tokyo, Feb. 27.
The first cargo ship built in
SOUTH AFRICA and SOUTH AMERICA "TJISADANE” + **TJIPANAS” **TJIBESAR** ** "BOISSEVAIN"
"STRAAT' SOENDA”
** not proceeding to 8.
† not calling Manila.
© JAPAN
"TJIPANAS“
**TJIESÄR”
“NOISSKVAIN"
"VAN HEUT:Z" "STRAAT BOENDA”
18th Mar.
24th Mar.
SAILINGS
Tik MAR.
ARRIVALS
In Port
18th Mar,
18th Mar.
28th Mar.
In Port America,
ARRIVALS
11th Mar.
17th Mar
24th Mar.
18th Mar.
4th Apr.
5th Apr.
SAILINGS
Erd Mar. 20th Mar.
Agents: HOLLAND EAST ASIA LINE
•* EUROPE VIT MANILA
and `MALAYA
"AAGTEKERK” MALMKERK”
"LANGLEESCOT"
Through Bs/L immed to Aledkorranean and Northern European Porta.
• JAPAN "AAGTEKERK” ↑ "ALMKERK” "LANGLEESCOT"
via Manila.
ARRIVALS
18th Mar, Mid, Apr.
ARRIVALS
SAILINGS Sih Mar, 2nd week Apr. May
SAILINGS
8th Mar, .2nd week. Apr.
May
23rd Mar, Mid, Apr.
KINGS ULDINGSTECLEHONSËËZUOLEMENT
SAAUGHTEROAMRZLINAURA
S. A. C.
Japan for an Indian company Every TUESDAY is SAC DAY to BANGKOK, 2015-18 is to be launched in Kobe to-
12376-32 1.04-1.831
i71
Marchi
1.BO
May
July
Bopterober
December
Bya
May
July
Onts
March
1.011- 1.74
1.9134-34 190-1894
200 New York flous-per 200 I. sack, $13.20.-United Press,
United Press.
LONDON
-MARKET
TIN
London, Feb. 27. The tin market at the morn- ing session fell sharply, but steadied at the lower levels. Turnover was 185 tons, in- cluding 20 tons for spot.
Prices closed today at the end of the official morning session 23 follows:-
1,400 Spot tin, buyers Spot fin, sellers
1,405 Business done al
1,400-1,403. 1,395 Three-months tin. buyers Three-months tin, sellers 1,400 Business. done at
1295-1,400 Settlement
1,400 -United Press.
London Rubber
London, Feb, 27.
Prices of rubber futures closed here today as follows:- No. 1 rubber, in
DIT Bb.
April ...... Apri/June July/September October/December
day
Great
was Eastern
The ship, which will be christened Jag Ganga," built for the Shipping Company of Bambay by the Central Japan Heavy Industries Company, according to the Kyodo news agency.
Mr K. K. Chettur, head of the Indian Liaison Milesion Japan, is expected to attend the launching ceremony.--Reu- ter,
ECA Grants Announced
Washington, Feb. 27. The Economic Co-operation Administration today authorised Western Germany to purchase. $100,000 worth of manila abaca fibre from the Philippines. ECA also authorised $179,000 for Bioctrical equipment from for Formoso, including $40,000
Japan and $139,000 for motor vehicles.
Thailand was authorised to purchase $812,000 worth of metals, vehicles, machinery and technical services, Indonesia was given $1,000 for manufactured goods,United Press.
Copra
Quiet
New York, Feb. 27.
The copra market ruled
711-7236 quiet
United Press.
with bids
at $282.50, C.I.F. the Pacific Coast. Cocoanut oil was nominally unchanged pound.-United Press.
at 21 cents
Speculation Over
Cotton
Trading
New York, Feb. 27.
a
All cotton futures markets will remain closed, on Wednesday, the 28th session since the price freeze order was issued.
announcements Living Cheaper materialise made some
In Burma
8.
Geneva, Feb. 24. Burma's cost of living figure
in November and December last year showed: `n full .of. wight percent cothpared; same.monthm of 1049,
the
The fallure of past" "im-, tions would be placed on special minent"
to trading in old crop months traders through the margin requirement sceptical, but the 'more optimis- changes. - tle hoped for resumption of
trading by next week at the
nial optimista understood.
Mr C. R. Sayre, Chairman of Cotton Producers Com-
and DIRECT FLIGHT to RANGOON
BANGKOK/PENANG & SINGAPORE ON WEDNESDAY BANGKOK/RANGOON & CALCUTTA ON FRIDAY
For full particulars, please apply:
General Agents:
SOUTH EAST ASIA trading co., (sIAM) LTD.
69 Connaught Road, West. Tel: 24292 Peninsula Hotel, Kowloon. Tel: 56416
“Booking Agents:
AUW PIT SENG'S TRADING CO., LTD. 10. Padder Street, Tel: 26733
CHIANG HUat Hong
340 Queen's Road, West, Tel: 36204
When you ship by Clipper* Cargo you save 12 ways
A comparison of seaandair shipping costs by weight estes alone doesn'i tell the whole story, You must also. include these special economies of Clipper Cargo:
the Agriculture Secretary, Mr mittee representing growers Crating is seldom uscessary, Brannan, had made his de- from California to the Carolinas, Shipping weights are lars, because cision on the plan' to refreeze upon his return home to Scott, you use ilghter packing. level. The formula now warned, what the..poke out "No ¿eterioration.
raw cotton supposedly up to the Missisippi, from
because payment is qui Derwmunition time reduced. One Air. Waybill covera shipment from origin to destination,
• Goods arrienschen nerded 55, white ¡the market is strongest «Damage and piitar
greatly reduced. *C.O.D; and collect servi »Loseer Insuranen córfst goods are in
to many countries. › transit so
bis 62 •Fewer bandling fúss. . ↑ Enventory, an unehouse posts.com
No other sidige adere gunte aprond coverage of the: ↑ Rates go down en velties of rams and schedules call.
goes to the Prico Controller. Government officials in Statistics published, ¡today expected potahi tokiorrow, threatens the possibility of a)
Mr Disallo, who10
ito, maintain the celling price the International Labour Once but informants were wary
ary about 10,000,000, bajos crop this year. shower: that-of-k -33% countries
guessing what Mr Disalig's which sent in detalle 28 had to decision would be, ma cotton caus
Mr. said a celling on raw. be drastically reduced, cotton or cremes, abc!reductions, and i two registered no change, Reutung observer phrased it inevitably, thear lowers prles Ho
Mind: I
any level would
situation may be climaxed by and at what point larut beckung dottoribusfit works harder. Carl-Age Pat Bulk Dustpaninëula Hőtër. “Prionike '81076, KOTH Djalle
Traders rend querilen into spine suring the help hinh
Exchange Rates statemen Me Jomph Kaillet, buce
For full particulars onli Kienoïst Agents, Unlied Blattu Lina Co., Queen's' Building,
PHOTLINE nota vt peri Indonesia' guilders (pen. Bjam tions (per 100) Sinexpore (Blvaites
·TRO Prantees (per 100).
pcake and and was swelling
information from other agan
them on a week to west bati || pot #gosarji) scherpontjald
Thus growery-and-private ban« "kery would be, forced:to: GURION
If trading fa rosismod, it the crop, be added-United understood that errory vistrio- | Press.
* Airport Cafed Office Phone 69001 12
Ananicon offers
CLIPPER CARGO