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THE CHINA MAIL, TUESDAY, APRIL 8, 1951.
Britain Raises Britain's Ships Still
Metal Prices
London, Apr. 2.
The Ministry of Supply announced today that their Belling prices for copper, lead and sino had been all raised,
The price of electrolyte copper had been increased by 28 to £210 per ton. good soft pig lead increased by £24 to 2£180 per ton, and good ordinary brand sino creaped by 29 to £160 per ton, all prices for matal delivered at the works-United Press,
Decline
Leading Whole World
MORE VESSELS AT SEA THAN
ANYONE EVEN AMERICA
(By GERALD SCHEFF)
London, Apr. 2. the oceans which carry the Britannia still rules the waves on world's merchant trade. And that is truer today than at any time in recent years. For in British yards there are 2,000,000 tons of new ship-
Inping on the stocks and orders for as much again.
1
Fresh contracts are being signed daily. Yesterday orders for five cargo ships were disclosed. The P & O Line intends to add two big pas-
NY Cottonsenger liners to its fleet. And so it goes on.
Futures
Since January 120 new ships, totalling 1,500,000 tons, have been ordered at a cost of nearly £100,000,000.
Thanks to a gigantic ship-
programme,
Britain
a Merchant Navy
New York. Apr. 2. New crop cotton futurna to- day faltered after steady building opening, dipping to the lowest now Dousts evel since the resumption of larger than in 1939-and we hove far more ships plying the trading on Mar. 8.
spot seas than any other nation, in- cluding the United States.
The reappearance
house and other trade buying
on the dip subdued the bearish sentiment later.
ship- In five years British (yards have bullt 1,800 new mer- chant ships-bigger and faster than before valued at about £500 million,
The significance of buying in late 1951 deliveries is still not to usually shrewd quite clear
The 4,000,000 tons of orders in market observers, but one sup- position is that if may represent band and on the books repre- covering against calco made for sent another £300 million in shipment later in the year, also hard cash. Neither the Govern investment buying on the pos-ment nor any State board can sibility that the present intra- claim any credit for such enter- month difference of about 5 prise cents a pound may narrow later on.
coun-
other Twenty-seven tries have looked to Britain for merchant ships. One Analysing the supply picture their In raw cotton for next season, third of the tonnage
building the New York Cotton Exchange is for foreign owners. Norway Service Bureau estimated the has ordered 1,000,000 tons potential supply at 18,000,000 shipping from us since 1945, bales. This would include the British shipowners, with war crop of 18,000,000 bries and a losses replaced, are proceeding the possible end of season ever of 2,000,000 bales, Sul with plans to rejuvenate
Supply fleet with the most scaworthy,
and this season amounted to 17,050,- economics
comfortable 000 bales, an average of 20,500,-ships ever built, 000 bales for the past 10 sea- Among the merchantmen on sons.
order are 27 vessels of more than 20,000 tons each.
for
The market opened off 2 to up 3 points, gained 1 to
OIL-TANKER RUSU 10 points, and then eased 6 to 28
Greatest demand is for tank-
An
18 points from the highs
oil-hungry world in the ers.
them. early afternoon, It seesawed clamottring nervously thereafter to close 5 One north-cast cousy yard is to 10 points lower.
building 24 tankers which
will be 0,000 tons Prices closed today as follows: average
petrol-carriers 40.06 nominal larger than the 48.39 bid
thirties. of the 44.09
От
tanker likely
American Steel Record
New York, Apr. 2. The United States stect
pro Industry topped all vious records of war or Peace when it turned out a peak of 25,400,000 tons in the first three months of this year,
If the present pace is maintained the 1951 pro
duction will top last year's record of 108,650,509 by tons.-- 8,000,000 BOMO United Press.
HONGKONG
SHARE MARKET
U.S. Cuts In Rubber
Supplies
The
Washington, Apr. 2.
Government today banned spare tyres for new cars and cut the total civilian supplies of rubber for April five per- by an additional cent.
The order makes an estimated 88,000 tons of rubber available during April-about 1,500 tons below the average used in the first three months of 1951,
The National Production Au- thority estimated that the cut- that the back would mcan output of auto tyres, boots and galoshes, mats and other civilian rubber flems will be about 10 per cent below pro- duction in the year ended last
June 30. The output
has already been cut back about five per cent.
The order prevents automobile
from buying, manufacturers
spare tyres independently, but a person who buys a new car Business on the Stock Ex- can get a spare from the re- auto during the morning! tallers. The order limits change totaled $209,553, Noon rates makers to a 15-day tyre in-
and dealers and dis ventory were as follows:
tributors to a 30-day supply.
The NPA criimated that the total rubber consumption for military and civilian use this month will run to 101,000 tons, 3,000 tons more than the monthly
for the
first three months of 1951-United Press.
SHARES BUYERS SELLEES SALES BANKS INSURANCEES
Valon
SHIPPING
HK Bank, 1543 1370 401300 720 725 105 @ 725 10@ 127.50
A 320gest ship launched pock
Spot
May
July
October
40.50
-
December
39.00-19.00
to be
March (11521
32.73
May
July
39.49 nominal 30.24 -United PreRS.
put
NEW ORLEANS MARKET
Spot
May
July
October
December
March (1952)
May July
Sails about 21st April 1951
Also Accepting Transhipment Cargo for West
Indies and South America
For further particulars apply
in Britain this year.
Finishing touches are
being
to two new Liners scheduled for maiden voyages Closing rate in April and May.
April 2,
One, Furness Withy's Ocean 44,31 Monarch, is designed for luxury 44.83 bid cruises. The other, the £3,
500,000 liner Oronsay, is the Australian
43.39 bid
4047
3081 39.04 bid
run.
for
She will have more tourist 20.41 bid
fares as low 38.90 bid space, with Vaited Press.
Late Rally
259, a dining-room and play- dock for "children only," and a mast containing a radar-scan- bridge.
the
FEWER CO
COAL-FIRED
On New York projecting
WALLEM & CO., LTD. Stock Market
Agents
Hongkong & Shanghai Bank Building
Telephones:-88041-5
Trade
New British
Agreement With Pakistan Signed
Karachi, Apr. 2.
New York, Apr. 2.
лег оп
New liners are to it anti- seasickness stabilisers hull- reduce fins which ships' roll in heavy weather. A new device will convert water into drinking water.
Oll burning motorships will form 30
of the percent chips. Fewer coal-fired steamers are being built than ever.
sca
new
But there will be no "jet" ships. Such engines were tried out and discarded at sea before was aeroplanes were invented.
Pepper Market
Firmer
Nav, 100
K. Wharf XD 7251⁄2 N. Pt. Wharf 4.00 5.10
Dock
#
Providens XD 10.20 S'hal Dock.. 2.90 Wheelock ... 24 LAND, ETC.
HK Hoved 200 8.70 HK Land
Humphreys,
UTTEVMES
500 10.70
43 200 @ 41
7 7500
Tram XD.. 11.75 121⁄41⁄2 1500 @ 12 Star Ferry
71
C: Light (0) 6.10 0.30 3000 6.15 C. Light (B) 6.70 500 à 5.70 700 8.75
Flectric XD 2335
Telephone 1023 202 STORES, ETC.
Dairy
Dairy (New? L.Crawford COTTONS
Ewo
The
Prices
143% 1200
13% 300
1.00
average
"TIN RUSH”
R.I.L.
ROYAL
INTEROCEANEX LINES
SINGAPORE JAVA PORT and MACASSAR "TJIWANGI’ "TABHAN" as
“VAN HEUT8Z" ='
"TJITJALENGKA”
•
ARRIVALS
In Port
.In Port'
18th Apr.
.27th Apr,
only to Singapore, Penang & D. Dell.
** only to Singapore,
MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA
"STRAAT BOENDA” **TEGELBERG” "TJIMENTENG"
JAPAN
"STRAAT SOENDA” "TEGELDERG” "TJIMENTENG"
† via Manila,
5th May
SAILINGS
"Bib Apr. 4th Apr.
16th Apr,
1st May
ARRIVALS.
SAILINGS
9th Apr.
5th Apr.
8th May
SAILINGS
6th May
8th Apr.†
ARRIVALS
7th Apr.
8th May
Agents: HOLLAND EAST ASIA LINE
EUROPE via MANILA
and MALAYA
- "ALMKERK”
"LANGLEEBCOT"
"ARENDSKERK”
ARRIVALS
SAILINGS
.15th Apr. 18th May
19th. Apr. alld. May
Mid. .June
10
Through BS/L issued Mediterranean and Northern European Porta,
JAPAN
ARRIVALS
SAILINGS
"
“ALMKERK” +
"LANGLEESCOT"
17th Apr, Mid, May
18th Apr.
"ARENDSKEIK” †
Mid June
24th May
† via Manila,
ALKING'SCHUILDING FULÈPODNESS: PROLA (TO) 28017.
Malaya Still Riding On Crest Of A Boom
Singapore, Apr. 2.
The rubber and tin-rich peninsula of Malaya and Singapore island is still riding high, wide and handsome on the crest of a boom.
Currency note circulation today is S$700,- 000,000. A year ago it was S$402,000,000.
Deposits in banks have jumped upward march. to S$509,000,000, compared with S$315,000,000 in 1950,
Postal savings have risen from
IN CORNISH S$48,000,000 to 5$58,000,000,
VALLEYS
Malayan tin
producars coyly say they have no particular desire to sell this vital com modity Soviet Russia, but in view of U.S. action they have
alternative.
All of this means that of the increased note circulation of no S$288,000,000 only S$204,000,000 leaving for accounted 5304,000,000 in the hands of the masses.
One thing is certaio-pro- ducers are determined to keep the in price high enough to assure them what they say is a
reasonable proat,"
Rubber men
way.
feel the
London, Mar. 29.
This also means that with so New life has entered the 1414 world's oldest tin producing much money in the country, the 13.10
Tin men, too, frequently his industry in Cornish valleys Governments of Singapore and long ago written off as not the Federation of Malaya are back at the U.S., and claim t worth the trouble of fur-paying special attention to anti-is the American Government
Inflationary-measures.
who is "gouging the world.on.... The Singapore Ecotomie In- prices of metals it commands. Burenu sums it up That's their answer to a UB formation
The this way:
that Senate Sitace's declaro. people are earning as a result
producers are
Rubber Markets
London, Apr. 2. of rubber futures closed here today as follows: Number 1 rubber, in cents
per Ib. May July
July/September October/December
ther exploitation. It is part of the boom started by re-
cord prices.
mongy
tion
that
The mine at Luckett
of the extraordinary increase in "gouging the U.S. Cornwall has her reopened the price of rubber and fin ir
So, even though the price of
and it is hoped that within six far and away larger than be foodstuffs, for instance, are up
tin con
months 400 tons of
centrate, worth £500,000,
дя
fore.
or
to
lush
taking
homes's
MOTO
rules and, in a British phrase, having a jolly good time: Associated Press..
200
300 per cent in the last and other things "Common sense tells us that four be mined there annually.
the way to remedy this position are following the same trend Miners have come from
who handle
rubber and is either to increase the supply those to
join in far as South Africa this intest "in rush".
Getting Already of goods or decrease the amount tin' still manage to "got be
means that spond, and of are employed, 03-04 105 men
both people have
of them are buying more auto 3- now prosperity is awakening in
The Bureau suggested inflation mobiles, more the tiny village of Luckett and 35-38 its neighbouring town of Cal- could be checked by increasing drinking more, -United Press.
the supply of goods on the local lington.
But local
closer check on belleve market, a exporte SINGAPORE MARKET
much more could be done to exports, taxation," sayings, and Singapore, Apr. 2.
of consumer resistantə` movements; Prices of rubber futures closed some of the raw materials which
step up home production
BOND ISSUE liere today as follows
short supply. aro in critically Number 1 Tubbor, per ib,
Why, the local people ask, April
does not the Government reopen the wolfram mine at Hemerdon?. This mine was re-equipped at a cost of £305,000 during the war, but is silil on a care and main
ober,
rubber,
220-221 217-218 214-715 207-208
104-105
A last-hour rally cushioned an early decline on the stock mar- ket. Earlier weakness had forced prices down more than $2 share.
Turnover 1,280,000 shares.
Most of Britain's newest ships Some heavy losses appeared will cost £1,000,000 each. And in rails.
Televisions and textiles ships of the future will, haya ranged to more than a dollar only one funnel. Bow figure- # share lower. Utilities hold heads of ancient days are re around the previous blose, as turning to odd grace and beauty, measured by average.
-London Express - Service. Industrials however, declined 1.431 to 246,63 and ralls lost 67 cents to 70.65. The general average dipped 58 cents to 90.50. Of 1,108 issues traded, 724
May declined, 180 advanced and 204
June Number 2 rubber, were unchanged,
April Wall Street found encourage ent in
Number a statement by the
New York, Apr. 2.
Apri Secretary of Treasury, Mr John • The pepper market ruled / Number-
actual trading Apoll The new agreement revises the list of goods enjoy- Snyder, that the second bite" frmer although
on taxes could be postponed was on the quiet side. Higher Spek Hubber, unbsied ing Imperial Preferences between the two countries.
until
He asked Bombay offerings helped to stit-No.1 pale crepe year, however, to rush on the local marifet with some
United Press. Pakistan exporters will receive if there should be a material Congress,
offered up to and through the request for $10,000,- April shipments
NEW YORK MARKET volume preferences on ion, dressed and change in the
a pound, cost and freight, $1.60 a the preferential 000,000 in additional taxes.
New York Apr. 2, undressed leather, hides, skins, pattern
Dow Jones averages at the and city
higher than last week
Crude rubber No. 1 futures oilseed cake and meal, carpets ande.
give not of the session stood as follows: Spot pepper was quoted today Either party may
closed quiet with no malék, HD and sports goods when imported
less than six months' notice of 30 industrials"
240,63 at between $1:01-1.62 a pound. by Britain.
79.05 Ro-sellers quoted aflents et be sheets 72 nominal Associated Spot No. 1 ribbed smoked British axporters will re-termination of the agreement 20 rails
42,21tween $1.60-1.61 and
April, Press. ceive preferences certain at any time after it has run a 15 utilities
40 bonds
208.17 May and Jtine at around $1.59- iron and steel products, chemi-car.
the After announciag
---United. Press. 1.00, all on un éx-dock basis. paints, engineering Ppact, the Minister introduced a
United Press. duct, cation and rayon textiles.
"London, Apr. 2, The The agreement was signed by Bill to abolish all reference to
market popper Fazlur Rahman, Pakistan's proferential duties in Paitsian's
A new British-Paldatan trade agreement, revising the United Kingdom-India agreement of 1939, was signed here today.
Commerce
on
BM-
Tariff Act
of
.new
Minister, and Sir
The new trade agreement, Laurence Graffiey-Smith,
which is limited in its scope tish High Commissioner,
and has a short life of 13 Mr Farur
later fold Rahman
months, cannot obviously form the Pakistan Constituent A- sembly that the agreement re permanent part of our tariff
Reuter. structure," he said. --~-
dressed the balance of advan
ment
neart
wda
Grain Prices stagnant, mainly because sellers
In Chicago
Chicago, Mar. 2,
Prices of grain alturaged which had been upset by the NEW YORK SUGAR here today as follows:
tages under the old agreement,
'partition of the Indian sub-con-
tinent.
He added: "Thờ. now, narco- ment, it is hoped, will work to the mutual advantage of both countries and, by the exchange of tariff preferences, will foster trade in both directions” y
MAY CONFER
FUTURES
Wheat price per bushel.
spot May July
September
Corn
New York, Apr. 2. World sugar
futures closed December today 1 to 4 points lower, with spot sales totalling 60 contracts. May
Contract No. o closed
hera July
Beptember today 2 to 4 points lower, with December sales, totalling 50 contracts,
Prices closed today as META
Goods from which preferences follows: in favour of Britain had bot
| Corneses, No. 4 (worta)- removed include Tootor cars, May motor cycles, bicycles and "bar" ||July tain items in the chemical and Septembe from and stool categorion,.; Man (conteni
MY-TARUE" Rahman said that
C
Byo
July
J
B46 traded
are no hurry to sell and buyers think that pepper ought to be 50. ahillings, per bundred- weight cheaper than it in. Mala-.
bar
who are not
Black crepe
tenance basis.
The Government of the Federation of Malaya now la recking the advice of trade and industry leaders to half the in- | flationary trend, for prices seem to be going up every few days, The Government also plans to
k 163-106 22031 = 22131 PLAN
The supply situation for wol-open Government-sponsored co- 100458 from his deteriorated since operative shops.
As another anti-inflationary 233--240 Chinese suppiles were cut off
from the West, and the price of move, the Federation Govern wolfram-the source of tungsten ment
proposes from other countries soured since the outbreak of war
TIN MARKET
FIRMNESS
11
but business was
to
Anti-Cartel
Scheme For
The Ruhr
Bono, Apr, 2
The Allies today announced
a reorganisation plan for cont bas $$10,000,000 worth
of tax-free and steel designed to break up premium bonda Then, too it has the German heavy industry that in Korea London. Exprces in mind a provident fund scheute fed the Nazi war machine
which would absorb as much as
The main features, pre; Service
S$50,000,000 a year,
1. The large steel combines The people of Malaya and will be formed into between 24-
and 28 companies, Between ning plaining, about steadily prices," novertheless find much own their own coal mines, cheer in ricketing prices for the sales organisation and the Cook 2--The West German, 'conl rubber and tin
Tax On Meat Singipore Island, who come and 12 of these companies may
Suggested
become rich Board are to be dissolved, t Thousands have soll, Washington, Apr. 2. with rubber soaring to as high Since the war heavy industry Staff experts for the House, du 8$2.80 per pound. Tin has has, beon functioning with its London, Apr, 2.
Senate Economie Committee to it as high as 8$183 per picul, future ownership pattern in cold
or one sixteenth of a ton,
storage. The new plan, when pub - Was offered at 1275. The tin market was firm today day suggested that a "luxury"
tax might be levied on meat to Even- what is turned herb into Dutch The
effect, will ensure that Irregular. allowed by India to buy Main-Turnover was 100 tons, including help check indiation. The sugges efforts of the US Government owners do not band together to tlan was contained in a staff to force down rubber and tin make the German industrial bar, are stil buying in Singa- 20 tons for cash,
report made public, with the prices has not caused any an- machine a menace pore, resulting in black pepper
Prices closed today at the end and report of the Economic duo alarm
Alled officials mid---Router rising to 13 shillings and white pepper to 19 shillings, both on a
of the official morning bosion as Committed. The Coràmitige It-
DEMAND RESUMEA sdif did not suggest such a tax shipping weight, bads United follows:
The staff report said groupe The rubber and tin producers eaching more than 18,000 yearly of Malaga make no benes about Japanese Bonds
that they can always accounted for $4 cent of foods to Soviet Russia and other
Opos tin, buyMED 'awwa
¡8pot sin, sölury, es
Business done at Three-months, tib, buyers.
NY EXCHANGES, Tremontiin, miller
*Bonitam done st
Beillement
New York, APE
Foreign Exchàng
སྙ.
ve
nations even if the U.S. la en- taxes on cortaki luxury foods might not be athles,tirely out of the burities of From the sheer standpoint of buying until prices reach u
***Preasonable Tøvel”, production, mest, be often the in price broke- been polptest out, is in reality sa AKRO
Exchange Rates on other products how love umemta upended
UA.
Bonusy Bood. Unlow fed wholly for a few days, atức the um, and, that, comprobe trod for change for stokpiling and math fond de prociation feds for Heal the sole pippoca communion food vend Unica, the tie But" produtos Ponloriid value returned.
Recover
to: peace,
lo
New York, Apr. 2.. antindo barida showed
dent, strength in today
which was marked by
movements
mular price
The Pains" "followed
Thor of detale of the propo
бараните ровер, тракт
* TOKYO, CIV B 34 Padded.