THE CHINA MAIL, THURSDAY, MARCH 1, 1951.
MESSAGERIES MARITIMES Price Increase
MOM
··~"BEAUVAIR"
ARRIVALS
from Japan
SAILINGS
PASSENGER/FREIGHT SERVICE
"FELIX ROUSSEL" "LA MARSEILLAISE" "LA MATSEILLAISE”
"BEAUVAIS“ "MEINAM***
"GRANVILLE"
to Marselles via Manila to Japan
4th Mar.
||
In Britain
------, Land out, – geb. –26. "The Economis" index of whole male prices for the fortnight ended Feb; 20 -- 222.5, compared with the revised figure for the previous perlod of 221.L
Jump
of the sub-groups, фе
Had the biggest fropi the revised of 128.2 for the period onded Feb. 0 to 337.8United Press.
firare
1st Apr. 8th May
to Marseilles via Manila 19th May
FREIGHT SERVICE
N. Africa & Europe 6th,Mar. N. Africa & Europe 25th Biar. ..N. Africa & Europe 27th Mar.
for
FORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIEE, CABABLANCA, HAVRE, 'DUNKIRK, ANTWERP & ROTTERDAM,
CIE DES MESSAGERIES MaritimES
Queen's Building
Tel. 26861 (Three Lines)
WATERMAN
STEAMSHIP CORPORATION
MOBILE ALA. USA
.
WATERMAN LINE EXPRESS
FREIGHT SERVICE
FROM US. ATLANTIC COAST VIA JAPAN
-*. *. “KYSKA"
DIRECT FOR
22nd Mar. 1951
NEW YORK, BALTIMORE & PHILADELPHIA VIA JAPAN & HONOLULU.
*. *, “KYSKA"
23rd Mar, 1951
ALSO ACCEPTING TRANSHIPMENT CARGO FOR
GULF PORTS.
WALLEM &
Agents
CO., LTD.
Hongkong & Shanghai Bank Building Telephones:-38041-5
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
Moscow
Indian Deficit May R.J. L.
Lead To Tax Increases
India's Budget
year
New Delhi, Feb. 28. for the financial beginning on April 1 was presented to Parliament today by the Finance Minister, Sir Chintaman Deshmukh, who disclosed an anticipated deficit of £4,150,000 at the existing level of taxation.
The first proposal that the Finance Minister announced was an increase in the corporation tax
CEILINGS ON COAL EXPORTS
Washington, Feb. 20. The Office of Price Stabilisa-
tion today put price ceilings on coal exported overseas.
од
These ceilings, effective Thursday, limit the exporter's "margin" between what the cool Costs him, da'ivered to the ship, and what he sells for. The
Announces by a quarter anna from two and a half annas to elings are:
Slash In Prices
London, Feb. 28. The Soviet Union announced tonight that the prices of con- brend to sumer goods from blcycles will be reduced up to 20 per cent the fourth such general price slash since the war.
two and three-quarters.
Other proposals were:
A five per cent surcharge on all income tax and super-tax rates, excluding corporation tax. An enhanced surcharge of ave por cent on all items on the import schedule except such as
by governed
specific
were agreements.
HONGKONG
SHARE
MARKET
Forty cents n ton, if the ex- perter is also the producer uf the coal, or his sales agent.
Sixty cents a ton, if the ex- porter
buya and resells the coal for his own account.
OFS officials said the reaBON for the order is a sharp pros- pective increase in coal exports his year. Less than three mil- lion tons were Bent overseas. last year.
An export duty of 80 rupees
But the agency said that in per ton for groundnut kernels.
1931, exports may total 12,000,- The surcharge on import duty
GOD to 15,000,000 tons because on ales, beers, spirits and fer-
of heavier demands In Western mented liquors was increased The volume of business Europe where industrial activity from 100 to 150
per cent.
transacted on the Stock Ex-is on the increase as the Allies The
duly on black change this morning was valued strengthen export
their defences.- pepper and cotton waste to be at $8,240. The half day's busi Associated Press. A broadcast by Moscow radio raised by an executive order ness and noon closing. prices sald the achievements in Indus-with an expected yield
£750,000.
Minister The Finance
of
were as follow:-
DN | BHARES BUYERS BELLERS SALES
BANKS
try and agriculture, the Increas- ed output of Russian workers, and the lowering of production nounced changes in the tobacco costs had made possible the price tariff which Was expected to reductions. As in all statistics yieki 29,750,000. from the Soviet there was no mention of prices but simply percentages,
The broadcast of price reduc- tions to the western world was dovetailing into the geen 83
Soviet "peace" propaganda. Premier Josef Stalin, in his recent interview, said it was obvious that the Soviet Union could not be building up and maintaining huge armed forcea and continue policy of systematic price reductions for consumer goods.
n
Radio Moscow reported later that the cuts would save the Soviet people 34,500,000,000 rubles in one year-37,500,000,000 rubles on purchases in
State shops and 7,000,000,000 123 collective farm markets.
coarse
11K Bank
1200 XD
East Aqla
100
2255
065
190
A 10 per cent ad valorem | INSURANCES duty on the exports of and medium cloth, mostly made from Indian cotton.
Fresh taxation proposals were estimated to yield £23,300,000.
Reuter.
Bank Makes
Bond Issue
་
In New York
New York, Feb. 28. A new issue of $50,000,000 of 25-year three percent bonds of "The State budget revenue will the International
Bank fo: consequently lose 27,500,000,000 Reconstruction and Development rubles. The
Socialist State is вастійс
making
ปร
was
placed on the market today for the by a
roup of 32 sake of steadily improving
of 32 banking houses. the
The
bonds, priced at $100 and
annua?
นก
Canton
Union
Underwriters
DOCKS, ETC.
Dock
Provident
S'hal Dock..
3
Wheelock
20
6.20 XD 1.50
LAND, ETC.
HK Hotel Shal Land
UTILITIES
Tran_....... 1219 Star Ferry.. C. Light B. Shares
7
5.00 120
..... 22444 XD-
Electric
INDUSTRIALS
Rope
10
STORES, ETC.
Dairy
1225 Dairy (N).. 2335 Watson
12
1. Crawford 2015
COTTONS
Ewo
Big British Orders To Go Abroad
Because
London, Feb. 28.
he finds "business
in Britain is very dimeule, Mr Edgar Blor, sole boas William
Togg
of the
Company of Nowunder
Lyme, Staffordshire, is now completing regotiations with Indian, South American and 8.80 Spanish rms for the manu- facture abroad of £2,500,000 worth of castings.
23 300 @ 31
Mr Blor told the Press Trust of India today that the reprosen- tative of an Indian firm-whose nome he refured to divulgo is now in London to complete legal formalities for switching £1,100,000 worth of orders to
600 2.50 India.
sinking fund, beginning The Rubber
well being of the people," said dated March 1, will have the Moscow broadcast,
This was the fourth price re- in the twelfth year, calculated to duction announced. since therettre 50 percent of the issue end of war. The others
were prior December 1947, February 1949 and February 1950.
in
to maturity. The offering marks the firs
by the World Bank in financing Other price reductions in-the American market since cluded: tea and coffee 10 per January, 1950 and is expected to cent; beef 10 per cent; fats and provide the bank with sufficient cheese 15 per cent; milk and funds for Lis lending programme eggs 10 per cent; matches 20
for a period of several months per cent petroleum, 10 per Associated Press. cent; blaycles 10 per cent; watches 10 per cent; bullding materials 20 per cent; sewing
Press,
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis machines, 10 per cent. - United
SAN FRANCISCO, LOS ANGELES AND PANAMA
NEXT SAILINGS
M.S. "LAURA MAERSK”
M.S.
"HULDA MAERSK”
M.S. "TREIN MAERSK"
Mar. 15 Mar 80 Apr. 14
TANKS OF ALL SIZES AVAILABLE FOR BULK OIL:
ARRIVALS FROM U.S.A.
M.S. "TREIN MAERSK"
M.S. "PETER MAERSK”
M.S., “LEXA MAERSK”
New York Sugar Futures
Markets
agreed
ROYAL INTEROCEAN
• SINGAPORE JAVA PORTS and MACASSAR “TASMAN" à "TITTJALENGKA" "VAN HEUT8Z” “
ARRIVALS
In Port ..10th Mar.
In Post
only to Singaporo, Penang & D. Dell.
• MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA "TJIBADANE" + **TJIPANAS" **TJIBESAR” ** "BOISSEVAIN”
LINES
· SAILINGS Tik Mar.
18th Mar,
SAILINGS
ARRIVALS
In Port
Tth Mar.
16th Mar.
18th Mar,
35th Mar.
In Port
5th Apr.
not proceeding to B. America,
ARRIVALS
"STRAAT SOENDA"
† not calling Manils.
•
JAPAN
"TJIPANAS"
11th Mr.
17th-Mar.
24th Mar.
16th Mar.
4th Apr.
**TJRESAR”
"BOISSEVAIN" "VAN HEUTSZ” "STRAAT BOENDA'
SAILINGS
3rd Mar. 20th Mar,
Agents: HOLLAND EAST ASIA LINE
• EUROPE via MANILA and MALAYA "AAGTEKERK” "ALMKERF*
"LANGLEESCOT"
Through
to
BS/L red Mediterranean and Northern European Forta.
JAPAN
*AAGTEKERK” †
"ALMKERK” ↑
"LANGLEESCOT"
+ via Manila,
ARRIVALS
.20th Mar. .Mid. Apr.
ARRIVALS
8th Mar,
2nd week Apr.
MAY
SAILINGS 0th Mar,
2nd week Apr.
SAILINGS
26th Mar, Mid, Apr.
KING'S: BUILDINGSSTELLCHONEST 280152002802
US Orders Wall St.
Controls On Hides
Washington, Feb. 28.
controls,
The National
hido
Production
Registers Recovery
New York, Feb. 28, The stock market displayed a to of its old-time bounce to day with a recovery drive that put prices ahead after an early
Goverment The terms had been with the Indian and with designed to assure that 23 to 25 Argentine and Spanish arms and million pairs of shoes are pro- only the legal side of the transduced for the military this year actions remained to be done, and to meet essential civilian setback.
Mr Blor said, "I shall take code as well, were announced However, the volume of
business advantage of all the help offered | today.
remained at the low from abroad-and I have been
level of 1,040,000 shares, Inundated with it from Spain, Authority set up an allocation gain, the gains and losses were And despite the overall price Argentina, Brazil, Colombia, New York, Feb. 23. Lydia and Pakistan. I shall system under which it will virtually in balance $24 Rubber futures were traded make every endeavour to close tained call-advancing and 450 declining, 200 points higher, then eased to as soon as possible, with people tanned U.S. cattle hides, calf-
the gainers were delivery at 13 cents a pound.
who want to manufacturo our sins, and kips "runt" cow Alleghany, Philip Morris, Mis
hides that tunners, contractors acurl
Baltimore
and The market ruled quiet and "Soon I hope
to visit India, and others may buy each mout our Peele, Ball unchanged.
Spain, Switzerland, Sweden
Stumblers included Amerida and South America to fix up This system will replaco a
Petroleum, Admiral Corpora=
United as contracts
tion for manufacturing freeze imposed on Feb. 5 while
Airlines, US, castings cutiide. England the allocation order was being Gypsum.
Dow Jones average: framed,
Stocks Officials said no shoe ration-20 Industrials
15 Ralls 10 Utilities
coatings in their own countries. close unchanged with March
Weak Market Prices
In Grains
Chicago, Feb. 28.
follows:- +Spor
March *MAY
July
closed today
-74.00
73.00 bid 0.00 bld
-United Press.
S'PORE MARKET
Singapore, Feb. 28.
Prices of rubber futures closed
New crop-contracts fell as much as ten cents, the daily New York, Feb. 28. Umit, in a generally weak mar-here today as follows. World sugar futures closed ket. Wheat proved an exception today 3 higher to 4 lower, with to the general weakness. 1 Mar. 14 sales totalling 375 contracts. closed to two cents higher. Mar. 23 Contract No. 6 closed today 2 March
to 4 lower. with sales totalling May Apr. 21
289 contracts,
July Prices follows:
For Freights and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder, Building
elesed
today
Contract No. 4 (world)
March May July September Spot
5.22 nominal
5.29 bid
8.30 DIA
8.31 traded
3.25
Contract No. 4
Tel. Nos. 26661-3.
May July
5.44 bid
1.53 bid
September
Epot
SAS
D. C. 6
SERVICE
EVERY FRIDAY, to Karachi, Lydda, Rome, Zurich, Frankfurt, Copenhagen, Oslo, Stockholm and New York. BAS,SERVES 10 European Countries and N. & 8. America. Agents: THORESEN & CO. LTD. Tel: 91241/2/3,'
5.5! bla
5.43
Gaited Press.
West Germany's Application
$2.434-% $2.40%-$2.47 $2.414-4 Corn was 1% to 1% lower. Oats were 14 lower to higher.
Rye was lower to 1⁄4 higher. Soybeans were unchanged to cents lower-Associated
ten Press,
LONDON TIN MARKET
London, Feb. 28. Tin prices continued to weaken at the morning session. Turnover was 70 tons, all for three months. Prices closed today at the end [of the official morning session as Bom, Feb. 28. follows:- The West German Govern | Spot tin, buyers .........** 1,440 ment has passed on to the Allled Business dome, at **** 2016
Spot tin, sellers.... High Commission an application Three-monthe tin. bayers 1,375 for membership in the Interna-Three-months tin. sellers 1,300 tional Monetary Fund and the Settlement
1,385-1,980 Busincas done at
1,445 World Bank, Government
-United Press. spokesman sold here today.
The application, If approved by the High Commission, wil be discussed by the Governors" Councils of these bodies at their next sitting in London
>in September-Router.
NEW YORK BANK QUOTATIONS
SCANDINAVIAN AIRLINES SYSTEM Dank of America +27 bid
IT'S AZALEA TIME!
COME AND SEE THE DISPLAY IN OUR
WWINDOW
•The
CLOVER FLOWER Gloucester
HOP?
3 APD. 1
LAMMERT BROS.
Auctioneers, Surveyors
1.450
Bond
Market Mixed
Reuter,
Economic Reporting is now in sight.
On Japan
Manila, Mar. 1.
The NPA authorities pointed out that more than 3,000,000
1.
93,94
252.05.
85.10.
49.02.
Associated Press.
men in the armed services, while Cotton Exchange
requiring 23,000,000 to 25,000,-
Four members of the Philip-005 pairs of shoes, will be absent pine Industrial survey mission from the ranks of civilian to Japan praised Japanese will buyers-Associated Press,
Number 1 rubber, per ib. March
2013-223. Number 2 rubber, March 218-219 Number 3 rubber, March 2014-2015 Ingness to place technical Number rubber, March 194-195 knowledge and experience at Spot rubber, unbaled... 22736 22934 | the disposal of the Black crepe
102-163
No. 1 pain crepe....... 228-230
United Free.
LONDON MARKET
London, Feb. 20. Prices on the rubber futures market here closed today as follows:-
for use in Philippine
generally still viewed with much misgiving the Philippine insistence on claiming US$8,- 000,000,000
from reparations the former enemy country. The four-men group back to Manila from "71-16-72-1 aboard a Philippine Air Lines plane via Hongkong. They left early in February to
but reported that the
Number 1 rubber, In "cents
per lb. April
April/June
July/September October/December
March
March/April April/May
the
30-5-14
56-14-
05-14-00
come Tokyo
make a survey of Japanese home in-
Orders For
Machine
Still Closed
New York, Feb. 28.
The Cotton Exchange whi remain closed through Thurs. day--the 29th
consecutly closed session since the price freeze order was iɛnied,
report
mid-January parity price showed an increase of 13 potata to 33.11 cents a pound
cotton for middling 7/8 inch
pacity holds current
the
Tools In US through Mid-July the lean rate
Washington, Feb. 28.
for new crop would be around 31.09 cents a pound for mid- dling 15/16 inch cotton. The
The Government is about to average loan rate in this season dustries with a view to adapt-place a number of machine tool was 29 cents a pound-United 66-66-32 ing methods of operation in the orders, reported
Press. to total bo- 02-31-03-Philippines-United Press. -United Pres
tween $200,000,000 and $600,- || 000,000.
Barter Trade Negotiations
?
Jap Purchases
Of Wool
Tokyo, Feb. 28.
160,000
day
Announcing this decision to- the National Production Authority(NPA) sald the ma chine tools industry was opera- ting at a low level before Korea
As
was
New Orleans Ruling
New Orleans, Feb. 28: The Directors of the Now
of trading in cotton futures, moved today to restrict the
explained afloially, the PALICE ROPRUSAAMERA spot
orders
Total purchase of Australian and must now expand produce Orleans Cotton Exchange, look- Manila, Feb. 28)
wool authorised to the Japanese tion to, mest urgent mobilining to a possible early reopening The Foreign Dillco-noounced Government during the current tion needs.
quarter was increased to that negotiations Tokyo for bales, this week. The Japanese Government decided révision of the Philippine Trade Ministry spokesman
to place Japanese barter tido agre doubtful, however,
The Directora pied due- ment ard progressing salita would be able to
that Japan large "popi orders" for machine forily.
purchase the tools to avoid the delay that tuations, in piled or contracts i
the spotlumenih cannot exceed Alm of the revision is to allow full amount, because of the in-igh rent should wait unti 200 poids, or $10 2 bale, for day
exportation.ot more creased wool prices. New York, Feb. 23, Philippine goods, An. great MacArthur's Headquarters had and analysed
The spokesman said General defence contracts were placed one dayAssociated Press. Trends
by Individual in Japan, gemand"
Associated GAINS IN LONDON: foreign dollar bond market, j importation Into
this week approved the purchase monxacturers. the Philip Among those › closo
of 00,000 bales of Australian Press pinca
items "of more
STOCK EXCHANGE Orient Development.
wool during the Japan Japan which are needed
quarter ending 548, however, lost one and The present half and Orient Development | the exportatión of various approved the Import of 100,030 sixes closed down two.
| itèma”to appcific amounts. and belca-United; Press. Moanwhile the $50,000,000 Philippine exporters have been World Bank issue, offered at urging the removn! of thesp
קנר
were
the
reement March 31. SCAP, had previously
por, brought a ready response imitationsUnited Press. Japs To Process
New York, Feb. 28, Closing barik quàtations:
"25 arked. tram Chase National Dank.14 301 vide
asked. Preas National City Bank 4914 bid. -Associated Press.
Spice Prices Up
New York, Yob, 20,
Inventor - Associated
Ore For US
US.
Silk Trade Alarmed
Now York, Feb. 23,
circles · here éx-
Sik trade
Opny were kineni kat sections, vos prosaaqjadon. Stock Exchange today.
...British Government bonds eloped 1/18 to 4 higher through-
the list. I Japanese bonds boomed. The 1007
closed #1-01, up 1%, the
out
TEXTILE MARKET Exchange Rates/Tokyo, Feb. 10, pratimin man of the 1910s, at: 30% up-214, and un
[DORMANT **Dugiem was done in the local
Now York, Feb. 28. moralow at the following rates!,
exchange market the The cotton textile market was Brclinente (perk) dormant today. Mill represen-
dollare tatives continued to labour unem cala Spice dealers.reacted cautious der the confusion treated by dapore (strait y to the now of the Increase the general
freeze and
Wool
in India's export duty, on black amendments BOA MIGRATI
pepper, Nearby: and steamers geho
market was
due in the Arsilahalf of Mardly quinanong nifita dreberippled showed little change, hut Inter 1st Time ADS AROLIGEN kandik mening me o Wpribed worsted, workersebut
chark ton, C... the Faels
March
***** 10.43
*** ****
pit 130
Japan's Hokkaido Denko K. preliminary Ogures will process 20,000, tons of Indian American Silk Council indicated 1930s at 82% up 215.9 manganese ord for the Western that consumption of raw silk Financial Times Index 1934) Steel Company of America, trade during the month of Februnty Associated Press14/15 Jan
Yoga plumped to around 4,000 bales circles reported today
The Japanese Arm to
14.
receive but saw some encouragement in Ban Relaxed
Linxodita ban on the
200,000,000 yen a processing the Japanese Government frotic charging According to the cons of domestic prices. trket all the manganosovorel is
expected to arrive in Japan by Mr George Kibogor.
* the ends of thin seng: The fut dent of ito Founellet, madki ke la videoijastalikemia tech@jandi arh
shipment is expected shortly hoped
Coast Subalki on the Japan. Bes, has a zovala at which domestic, prices provrees some planta from
shywodraethon, to 3. Foruta Alayon gooda: wurdu with' Cocomiut oll was offered-at-313, óæpačity","foo" prochising: 10,000|01, THW-HERZ (Hndi fabrica /wern | Ingito: shut, 'dow “- budere Khayy
higher, reflecting this tax ins prices on diament fabrics con- cemi a pound, OR) oils to sope of manganese pest montare, frozen by the Japane GOTER" can shift to dedence worked pressse-United Pa