THE CHINA MAIL, MONDAY, MARCH 19, 1951.
MESSAGERIES MARITIMES HONGKONG Persian Oil
M
*MEINAM"
ARRIVALS
from Japan
SAILINGS
M
PASSENGER/FREIGHT SERVICE
"FELIX ROUSSEL" "LA MARSEILLAISE” "LA MARSEILLAISE"
"HEINAM"
"GRANVILLE"
"CDT DORIBE"
26th Mar,
to Marsellles via Manila 1st Apr.
6th May to Japan
to Marsellies via Manila 19th May
FREIGHT SERVICE
..N. Africa & Europe 27th Mar. ...N, Africa & Europe 20th Mar, Europe 28th Apr. ........N, Africa &
for
PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CASABLANCA HAVRE, DUNKIRK, ANTWEEP & KOTTERDAM.
"DOCTEUR YERSIN" ..for Saigon
21st Mar.
CIE DES MESSAGERIES MARITIMES Queen's Building
Tel. 26651 (Three Lines)
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PIILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA
NEXT SAILINGS
M.S. "LAURA MAERSK"
"HULDA MAERSK"
*M.S.
M.S. "TREIN MAERSK"
Mar. 19 Mar. 80
Apr. 14
• This vessel calls Vancouver prior to San Francisco. ARRIVALS FROM U.S.A.
M.S. "PETER MAERSK❞
M.S. "LEXA MAERSK’
M.S. "SALLY MAERSK”
Mar. 29
Apr. 21
May 8
For Freights and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
Tel. Nos. 26661-8.
BEN LINE
FRE FAR EAST
FAST SERVICE TO UNITED KINGDOM AND CONTINENT
BY
S.S. "BENVORLICH"
LOADING HONGKONG 21st MARCH
FOR
LIVERPOOL & ROTTERDAM VIA
KOHSICHANG, STRAITS, COLOMBO, ADEN, PORT SUDAN & PORT SAID.
The
SHARE
MARKET
volume of business transacted on thie Stock Ex- change this morning was valued at $100,480. The half day's bus- Bees and noon closing prices were as follow
#HARES DDYERS SELLERS BALES DANKS
15 @ 1315
I Bank XD 1300
205
12 0 00 0
000
Underwriters 3.20 3.00
INSURANCES
Oneston Union
DOCKS, ETC.
K. What .. 80 N. Pi, Whart Dock*** Provident. 1993
8.20
13
LAND ETC
Nationalisation
CU
Would Leave Vacuim In R.J. L
The Country's Economy
(Our Own Correspondent)
London, Mar. 18.
There is every reason to believe that responsible opinion in Persia realises that if the threat to nationalise the Anglo-Iranian Oil Company is carried out it will leave a vacuum in the Persian economy that no amount of nationalist zeal can hope to fill. The difficulty is to convinco the nationalists of that.
-
capital. and "know- The company has what the country hasn't how," without which an oil industry cannot be run. No doubt technical 12 700 11% and financial assistance could be obtained from some other foreign power but even if the Persian nationalists were able to reconcile this with their fanatical xenophobia they would still have enormous problems to face.
•Inc Hotel 5.20 5.00
TIK Land... Humphreys
UTILITZES
Tram XD
C. Last (ERO) biective D Telephone
.... 20.00 1131⁄2 1200 @ 1
5.50
INDUSTRIALS
Cement XD Hape XD
STORTS ETC,
Warbor
24 022
B0010
Britain To
Get Sugar
From Cuba
1
India's New
The Anglo-Iranian Oil Company runs one of the largest tanker fleets in the world but this would not be included in the nationalisation "prize." The Persians would therefore be left with the oil but no means of transporting or Trade marketing it. They haven't oven roads or rall- ways to enable them to sell oil to Russia or Palds- tan.
reforms.
their
It
Pact
ROYAL INTEROCEAN
℗ SINGAPORE JAVA
PORTS and
MACASSAR* ·
"TJITJALENGKA”
"VAN HEUTSZ” •
#TJIWANGK
"TASMAN" •
ARRIVALS
21st Mar.
In Fort
.27th Mar,
..... 20th Mar,
部 only to Singapore, Pentang & B. Dell.
*
not calling Bingapore,
• MANILA, EAST & SOUTH AFRICA and
SOUTH AMERICA
"TJIPANAB” "TJIRESAD" ** "BOISEVAIN"
"STRAAT SOENDA"
"TEGELBERG"
*
+ not calling Manila
ARRIVALS
LINES
SAILINGS Zird.Mar.
21st Mar,
- 1st Apr.
8th' ADT.
SAILINGS
20th Mar,
In Part
24th Mar,
27th Mar.
In Port
8th Apr.
4th Apr,
not proceeding to 6. Amerion,
• JAPAN
“TJIBESARN
"BOISSEVAIN” "STRAAT BOENDA"
"TEGELBERG
ARRIVALS
„ztod Mar.
20th Mar,
6th May
Bil May
SAILINGS
20th Mar,
6th Apr.
Agents: HOLLAND EAST ASIA LINE
New Delhi, Mar. 18. India and Egypt have signed a new.trade agreement, it was
• EUROPE via MANILA Moreover the Persian Govern- policy is to "et the inflation that officially announced here today.
Egypt will export to India raw
and MALAYA ment
to receive is already in the blood stream would cease
fax cotton, yarn, gypsum and royalties from the company and work its way out in rising prices
oils and off "LANGLEESOOT" the bulk of
national (with all the handships and at- and Impant to manufactured "ALMHERE”
tobacco, certain oils
abellac, Goods,
coffee, cotton “ARENDSKERK" would mitomatically ficulties that that involves) but Revenue
manufactures of disappear nong with any hopes to resolve that there should be plece-goods,
-Through B8/1, fssued to they have of carrying out social no fresh crop in 1962 so that fron and steel, cutlery, electrical
Mediterranean and Northern price will before too long reach goods and sanitary wares.
European Ports. Set against those very real a plateau and level of
The present agreement, which disadvantages the offers made by
however, that intakes retrospective effect from● JAPAN admits, the Anglo-Iranian Oil Company practice neither tail of this Mar. 1, wil be in force for ane
"ALMKERK"+ can be filled com-year. They scom very generous,
with cription concluded
aim should bc, an agreement
It makes no provision for the "LANGLEESCOT"+ Havana, Mar. 18.
the
late Prime Minister, General Pletely. The
however, to get rid of "all art-export of rice to India for jute "ARENDSKERS"
+ via Manila. An authoritative source said Razmara, providing for increased ficialities and distortions that a goods to Egypt but it was under-
the today that
negotiation royalties but it was not ratifled.
decade of suppressing inflation stood that a separate pact would butween Cuba and Britain for a They have now put forward pro- has produced."
be concluded later to cover these sharing and selling prosnis for a 50-30 long term buying
In principle prices should be commodities. other
trade agreement Too agreement on sugar and
with the Persian Govern- allowed to find their own level profits
Last commodities are well advanced.
the Persians and "there should be a deter between India and Egypt expirod ment but so far
mined effort by using all the in July, 1030-Reuter. The informant said talks are have not reacted.
although the
remedies old-fashioned Meanwhile,
- by under way at Torquay which
monetary
ary polley, by restriction involve a trial three-year agree-agreements for increased royalty
of credit
dit and public retrench- ment under which Britain will payments was never ratified by of purchase
least the Persian Parliament the comment to cure inflation in the at annually .5,000,000 tons of Cuban sugar pany has agreed to increase its only way it can be cured-that and make small initial purchases royalty payments in 1951 con is by pulling the total of demand down until it is no greater than of Cuban fruits and vegetables, siderably in excess of those due
under the original agreement in the available supply" principally grapefruit,
In return for these British 1933. purchases, which are to be paid
The
and
of
the which
seem pre-
and
Tho
STOCK EXCHANGE 1
significance of the
to extent tor in dollars, and not sterling, Persian Parliament Cuba will
make sweeping parod to cut off their nose to elimination of United States spite their face can be judged Northern Rhodesian loan failure that it puts an end, tem- preferentials on 40 to 50 pro- from the fast that the agreement is
Tatify made porarily at least, to any hopel
medium- ducts, including automobiles, so they refused to as to enable Britain to enter the provision for royalty payments of raising further
Government loans at Cuban market and earn dollars.
1048 and 1949 of £18,067,786 dated --United Press.
compared with three and a half per cent. £22,890,201
The loan reached the mar- corresponding payments under
o particularly unfor- the terms of the original agree-ket at
On Wednesday, ment of £9,172,245 and £13,- tunate time.
the gilt-edged market ex- decline perienced its biggest for some time. This was due to a combination of factors. The present account closes on Budget Day and this does not make for strong nerves. More- In Wall Street and this had its effect in London. over there has been a decline
In its
Bank Mission In 100,271. These and other equally the day before the lists open-
Iraq
generous offers' were down by the Majlis.
It
turned ed,
FALSE ARGUMENT Baghdad, Mar. 18.
has been said that the Khwaja Ghulam As Saye- dian. joint
adviser British Government, which has economic to the Government of India, carried out many nationalisation International Hank Mission. The in no position to object when an arrived here today to join the projects on its own account, is a vital advising Industry in which it has
• Presen
interest is
is nailonalised by the country on whose soil it stands, That argument has no relation to the present case.
Mission is atTM the Iraq Government.
Mohammed Yunus, the Indian Charge d'Affaires, and Mr Ivan Rooth, the Swedish chief of the International Bank Mis- sion, met Khwaja Ghulam on his arrival-Reuter.
Sudan Stops Trade With Israel
The British Government has pointed out in a note to Persia that under the terms of its agree ment the company's operation cannot be terminated by an act such as "nationalisation."
Moreover, the more extreme elements in Persia are now de-
Dot
has
present overloaded issue on the was bound state any new git-edged market
on
to have an adverse effect
+ few days prices but even
go the most critical observer than that the Northem Rhode
to say more was not prepared slan terms were "rather close to the knucide." In the event, 94 per cent of the foon
WEB
ARRIVALS
.21st Mar. .18th Apr. 18th May
ARRIVALS
Mid. Apr. „Mid: May
Mld, June
SAILINGS
MA, Apr. MIA. May Mid, June,
SAILINGS
27th Mar,
24th Apr,
2412 May
MAKING'S BUILDINTERI BELEPHONEST 2MORENO PRISE
ISBRANDTSEN
Understanding between nations and peoples, fostered by the 'bonds of industry and commerce-the necessary flow of goods that keeps the wheels turning all over the world-is basic to peace.
It is our fervent hope-one which we believe is almost universally shared that the statesmen on both sides of any and all existing disputes and misunderstandings will get together and set things to rights. We still held to the view that mutual trade does most to promote friendship and understanding between nations and peoples, and that we, as business men, should argue that point wherever and whenever we can:- Isbrandtsen
INDEPENDENT
DEPENDABLE
Fast Direct Sailings to JAPAN and WEST COAST-U.S. A.-EAST COAST
left with the underwriters. The with transhipment cargo accepted for Jamaica, Havana and other Cuban Ports,
WDD
Northern Rhodesian issue manding
that the British be "thrown into sea" and the oll of £5,500,000 of three and a
without seized Cairo, Mar. 18.
in-half per cut loan stock dated Industry
1970-72 at a price of 99. The Egyptian Minister of demaifying Britain.
This
These terms suggest that the Sudan Affairs salā today that
latter threat may trade
to the authorities had taken care not relations between the make much difference Sudan and Israel were going to situation because not many of to make the same mistake that share caused 43 per cent of the re- company's 40,000 be ended. Egypt would buy up the all the Sudan's simplus goods. holders are naive enough to be- cent Southern Rhodesian Loan love that their shares will be to be left with the underwriters.
W.R. LOXLEY & CO., (CHINA) LTD. Reuter.
York Building.
ESSENTIAL SUPPLIES CERTIFICATES
Application
Forms for
Tel. 34165 & 38710.
RODO HOUSE
240, Tai Po Road, Kowloon, Tel. 5097's
Cable Address: "RODÓHOUSE" The only House that offers ex- vellent and comfortable accommo dation at moderate charges.
High class cuisine where meals cost 40/per day.
also Venezuela at
COMPETITIVE RATES OF FREIGHT
DUE FROM:
bought by the Persian Goverz But, although the terms of the S.S. "FLYING INDEPENDENT" New York via
British latest loan compared favourably with those of the Southern
+
ment
shares Q3
in nationalised industries were
Exchange Rates bought by the British Govern- Rhodeslan Loan, they were not
FIC plastres (per 100)
ment
Manila March
24th.
SAILS FOR:
Kobe, Nagoya, Yakškama. San Francico, Los Angeles, Now
Baltimore, Philadelphis, Boston
Panama Canal. March 28th.
LIMITED PASSENGER ACCOMMODATION AVAILABLE
Above Dates Subject to Change
Rufficiently generous to draw a markel which is still trying to Thirstow wow done in the local
INFLATION. MENACE digest the overdose of nation- Thi unofficial exchange
alised steel stock. moredog at the following rates:
15.58
'Inflation
Rhodesian gathering is now
The Northern Sterling note (per_2)
404 US. dollar (per $1) ....
3.80 momentum at such a rate that failure caused a further decline Indonesia guilders (per 100)
$0.00 it can no longer be ignored. "The in
gill-edged market on the Bem tica (per 100)
1470 Beonomist," one of the soberest Friday, and dealings in the now Singapore (Stratta)
14.00 of the week-end reviews, says stock opened at two discount, today that in the next twelve After. fuotuating between 2-5/8 nonths the British people will and ver, the new scrip Anished and 1-6/3, with a considerable experience a foll in value of turnover,
at two discount. The Essential Supplies Certifi-
their money such as they have back
at the now * stock rarely if ever known before.
cheapness
amount Tokyo, Mar, 18.
certain cates may be obtained from
There are two ways of dealing caused Kobe trade circles reported
with
an inflationary problem, as switching and this was reflected South China Morning Post ment
of import Remember our slogan "A littia the receipt
lowering in the price of offers The Economist" points out. The in a for cement Limited.
Pakistan spent, a lot gained,“.
from ranging from 6,000 tons to 10, first, and one we have been try other Colonial stocks which lost GENERAL AGENTS:
la to up to a quarter. past ten years, ing 000 tons. - United Pre30.
suppress it by imposing controls, rationing, raw material alloca cation and all other means of
10 CENTS EACH.
for convenient
Car provided travel.
Register now, to avoid disappoint-
Y. II. Chan, Manager.
2 FLIGHTS
WEEKLY
Pakistan Offers
IT CO-OPERATION WITH CẠT
NORTH to
TAIPEH & TOKYO MONDAYS & FRIDAYS
SOUTH to SINGAPORE BANGKOK
"WEDNESDAYA A"SUNDAYA juda
aster COACH SERVICE at reduced rates!
PACIFIC OVERSEAS AIRLINES, SIAM
"10%
the
with which we
A
of
For Information Apply to:
A.P. PATTISON & CO., INC.
CHINA, FORMOSA, KOREA, JAPAN AND HONGKONG.
Tel: 25346 12-14 Queen's Road Central 4th Floor.
CHINESE AGENTS:
curbing creegs, mending power Coal For Japan OVERSEA CHINESE STEAMSHIP CO., LTD.
familiar in this country.
The danger of this method,
Is that it must go on
Tokyo, Mar, 18.
A total of 64,072 tons of cok-
48 Bonham Strand West, 1st Floor.
however, for 'ever--Or invite even worse ing coal from the United States inflation when controla are and India between Mar, 12 and the Mar. 31 is expected by In a yawata eventually dropped. event, to attempt further up Co., including 44,180 tons from Iron Manufacturing
pression now would merely be the United States and 20,492
to
invita more trouble, since the mainstay of wartime controls from India,
freeze-lan Nearly one-third of the Amer the voluntary wage
coal has already arrived. Lons, i Cocond method of dealing
The
remainder, 9,445
Indian The with inflation is to let it run expected on Mar. 18. its course. If this method were coking coal of 8,671 tone is due
adopted prices would continue to on Mar. 10, and 7,310/ tone is soar until they reached a point due on Mar. 25-United Press. where they would level off. But
this phen for, all" melled sof
T
dooling with Indation would be, Japan's Trade With "CAL to usg The Economist's" term; "socially corrosive."
HARD CHOMIE
This is a difficult choice to have to make? There is no doubt that, politicians, Will favour, the frat petfiod or an attempt combine to two.g
Indonesia
Tokyo Mat,18,"
favourabie Japani hanka balance of trade of $20,000,0 with Indonéma, urider the Change iunderdo (now) trade cirates
option cloth
Tels: 26127 & 81119.
Pacific Far East Live Inc.
Fast Regulat Trans-Pacifio Servico
OVERLAND
·NEW-YORK-CHICAGO DETROIT-TORONTO MONTIRAL AND ALL'AMERICAN & CANADIAN -CITINS
DIRECT
BAN FRANCISCO, LOS ANGELES
Froma
Artivos
Bom Trancis
Mar
Stráite,
San Francisco
HWÄLUCKENBACH":
INIA: DEAR",
"PHILIPPINE ;ZHAR"-
San Francico vil Yokobati Sen Tranule
Yokohan