MESSAGERIES
M
"LES GLIERES”
ARRIVALS
from Europe
SAILINGS
THE CHINA MAIL, THURSDAY, APRIL 12, 1951.
MARITIMES || PI Businessmen
M
·PASSENGER/FAKIGHT SERVICE
1st May
**LA MARSEILLAISE" Zu, to Japan via Maulla .......... 8th May PLA MARSEILLAISE” to Marsellies vla Manila 19th May \FELIX ROUSSEL” ... to Marsellies
23rd June
“ODT DORISE" "DREST""
**BAINT VALERY"
FREIGHT SERVICE
....N. Africa & Europe 8th May .N. Africa & Europe 14th May N. Africa. & Europe 23rd May for
PORT SAID, TUNIS, MARSEILLES, ALGIERS, OBAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.
-"BEST"
.... to Yokohama & Kabe
15th Apr.
CIE DES MESSAGERIES MARITIMES Queen's Building
Tel. 20601 (Three Lines)
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
L
J
Worried
New York, Apr, 11.
The Commerce and In- dustry Association of New York sald today that cabled reports received by Now York firms from business. men in the Philippines in- dicated grave concern there over the cancellation by the Import Control Board of all outstanding import Moences for which letters of credit opened.
been
| POSSIBLE BUDGET SEQUEL
OVERSEAS COMPANIES RIL MAY TRANSFER HEAD ROYAL
OFFICES OUT OF
(OUR OWN CORRESPONDENT)
UK
London, Apr. 11.
One possible effect of the Budget proposal to increase the tax on undistributed profits may be to start a rush by companies operating over- Manager of the Associa seas-to-tranfer their headquarters out of London to escape the higher
United Kingdom taxation.
Mr Jacques Bramhail,
Hen's Export Division, sald the
contradlet reporta statement by the American
In Manila in res Embassy ponse to protesta by the Association that “a survey of the American business community falls to reveal the concern evidenced in your telegram.", - United Press,
Price Rollback Forecast
Palm Beach,
This subject is in the minds of many companies some of which have been wavering on the brink of "such a decision for some time.
But before a company can transfer its seat of control nearer the scene of its overseas interests it must obtain Treasury approval. The question now is: will the Trea- Bury tighten up its regulations governing the transfer of capital out of the country?
by
The opinion I formed talking with a Treasury spokes- man today is that they will.
What will happen if a number of companies now seek permis- don to transfer their scot of The control abroad? I asked. answer implled that the Tree- this not overlooked sury has
Budget possible effect of the proposal
Mr
13
Buoyancy In London
מבזק
BURLAP SHORTAGE
•
INTEROCEAN,
SINGAPORE JAVA PORT and MACASSAR
"VAN HEUTAZ” •.
**TJITJALENGKA”
#TITWANGE"
ARRIVALS
12th Apr.
..27th Apr.
..11th May
• only to Bingapore, Penang '& B. Dell.
MANILA, EAST &
SOUTH AFRICA and
SOUTH AMERICA
“TEGELBERG **TILMENTENG" *THIKAMPEK"
JAPAN
IN AMERICA TEGELBERG
Washington, Apr. 11.
Price control oficials hope
to reach some solution of
the
ARRIVALS
LINES
SAILINGS
16th ADT. 11 May 17th May
8th Max .20th May
ARRIVALS
.11th May In Port
SAILINGS
13th May
SAILINGS
14th Apr. -11th-May-
22nd May
HOLLAND EAST ASIA LINE
"TJIBODAB” *TJIMENTENG **TJIKAMPER"
+ via Manila,
problem of rising burlap prices Agents:
at a meeting on Thursday.
Burlap
stocks have been
shrinking in the U.S. and with❤
prices
of the
product from India rising above U.S. domes tic ceiling prices, there has been little or no buying to re- place short suppiles.
London, Apr. 11. There
Keneral huovanov in the London Block Exchange today in view of the softer-than- expected tax Increases of the new national budget.
Domestle Indastrial-
Burlap bags widely used in sacking agricultural commodi learn shot up sharply.
rot, British
are needed badly now Government
with fractions
Euch crops bonds
as potatoes shed
ready through much of the list.
for harvest in some States. Brokers attributed rening to the uncertain inter- national eitusiion. As-
"It would be better to wait -Florida, Apr.-1·1%- and-see"-the-spokesman-said- A top Government price
Gaitskell's Budget control official said today clearly designed to check inda that a general manufaction. Its chief aim is to draw spending power not soon to be issued in only by Increasing the tax on distributed profis from 20 per Washington will in effect cent to 50 per cent but also by
sociated Press. tax and the roll back prices have risen more than costs
tax on certain "luxury"
since Korea.
NEW YORK, BOSTON, BALTIMORE & PILADELPHIA, vis turers' pricing regulation off exces
SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "TREIN MAERSK"
M.S. "PETER MAERSK"
M.S. "LEXA MAERSK"
ARRIVALS FROM U.S.A.
M.S. "SALLY MAERSK"
M.S. "CORONA"
M.S. "ANNA MAERSK”
Apr. 19
Apr. 30
May 15
May 8
May 19 May 80
aim
which the income
fact
the
the
articles
That these measures are less drastle than some people ex- The order, the official said, pected is undoubtedly due to will
restoring
emphasised in pre- the Koren price-cost relationships. Economic Survey for 1951 that But for those who co-operated the rise in prices which is bound in efforts to hold down prices, to occur
This year
will have he said, there will be some in-much the same effect on spend- creases.
ing power as further increases in taxation without the latter's sudden impact..
The statement was made by Director Harold B. Wess of the
For Freights and Further Particulars please apply to:-Offee of Price Stabilisation's
AGENTS:
JERSEN & CO.
́Pedder BuildingTM
PENINSULAR
QUIS HOS SEPARABIT
Tel: Nos. 26661-8;'---
& ORIENTAL
STEAM NAVIGATION COMPANY
R. M. S. "CORFU"
BAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the. 13TH APRIL at NOON for the UNITED KINGDOM Straits, Colombo, Bombay, Aden and Port Said.
HONGKONG
he
Senator Dworshak, Idaho Re- publican, disclosed
had taken the burlap bag situation up with
acting Price Director Edward F. Phelps, Jr.
At present, the landed cost of burlap from India is 30 cents a yard. This compares domestic highest
with
the
REACTS TO ceiling of about 34 cents and an
MACARTHUR
DISMISSAL
Stock market prices were up this morning, and còm- went down. mercial gold
domestic ceiling ΟΙ 28 cents. O.P.S. officials
sult have
hopes the Indian prices will
They said
this would
be the biggest step in providing ample supplies here, since Americans then could buy and realias sumielent margins to operate,-Associated Press.
and MALAYA
EUROPE via MANILA
ARRIVALS
SAILINGS
18th Apr, 15th May
20th Apr, Mid. May
Mid. Jane
"ALMKERF"
"LANGLEESCOT"
"ARENDSKERK”
-Through—Bs/L– fasted_10_
Meillerṛantan and Northern European Ports,
JAPAN
"ALMKERK” +
"LANGLEESCOT” “ARENDSKERK” †
† via Manila,
ARRIVALS
18th Apr. ........Mid. May
..............Mid. Jang
SAILINGS
21st Apr.
24th May
KINGS BUILDING, TELEPHONES?280GETD828017
A Thousand Million
Dollars
Sliced Off
THE RUBBER Wall Street Values
May op-
June
MARKETS
2014-34 0871-6934 80%-15
022-4
BIG INCENTIVE consumer goods division, in a speech prepared for a joint
But in ensuring that not 100 is available 10 convention
of the
American much money Hardware Manufacturers Asso- purchase fewer and dearer goods, elation and the
Southern some observers think Mr Galts Wholesale
kell may have inflicted further Hardware Associa tion.
damage on Britain's position as This was the reaction the financial capital of the world. Hongkong to the dismissal He said the manufacturers The increase in the tax on die of General MacArthur. pricing regulations will be the tributed profits will provide
In the market generally, second broad order closely powerful incentive for com- there was
a feeling of con- .unilored to the needs of the panies to put profits to reserve major segments of business. Instead of to dividends, said Mr fidence and a belief that the
London, Apr. 11. The first was an order apply Goltskell. This may be true of much lessened.
threat of general war was now
Prices of rubber futures closed ing to all retailers of consumer most companies operating in the goods such as clothing, home United Kingdom but it is being change was bullish,
The trend on the Stock Ex-here today as follows:
Number 1 rubber, in cents an all- furnishings, houseware
per lb. and angued that it may have o sporling goods. ---- Associated diferent Influence in the board round bettering of prices being
registered. Brokers were rooms of companies registered timistic. in this country but engaged in Commercial gold tell moré producing commodities over- than 10 points Yesterday's opening was 3244. The news Some companies, particularly of MacArthur's dismissal came Rhodesian copper companies, after the market closed in the have already transferred their afternoon. When it opened this
But seat of control.
31214 Wos many morning, the rate companies operating overseas Later it sank to 308 but re- are still registered in this coun-covered to 311 at noon try. They include a number of
SHARE MARKET - rubber, tin and tea_companies Volume of trading on the besides the African copper com- Stock Exchange showed a con- panies still here.
value siderable increase,
of Some companies which have shares transacled
during the proposed removing their head- morning being $844.070. Noon quarters out of this country closing rates: inve met Opposition from SHARES BUYERS SELLERS SALES shareholders who are reluctant
Prass,
NY Cotton Futures Quotations
Cotton
New York, Apr. 11.
futures closed
here
today as follows
via
Spot
May
July October December March (1932)
July
NEW ORLEANS MARKET
Closing rate April 11, 44.91
ALL passengers baggage must be MayY Bent to the Hongkong & Kowloon Wharf Co.'s Godown at NO. 2 GATE, CANTON ROAD ENTRANCE by NOON on THURSDAY the 12TH
APRIL.
SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Whorf Co.'s Godown for loading on board by ship's slings only.
́EMBARKATION: Will take place on FRIDAY the_13TH APRIL between 9.80 a.m. and 11 a.m.
$.S. "LAURE PATTISON"
Direct for
PUSAN
LOADING THE 12th APRIL SAILING THE '14th APRIL
For Freight and Particulars, please
apply to
PATTISON ORIENT LINE, LTD.
12-14 Queen's Road C., 4th Floor.
Tel. 25846
or Chinese Agenta:
ISEA CHINESE STEAMSHIP COMPANY, LTD.
48 Bonham Strand West., 1st Floor.
Tola, 26127 & 811101
seas,
40.00 nominal 45.39 bid to let control pass out of their 44.72 nominal hands to a board situated thou- 30.32-39.53
sands of miles away. The in- 38.73 nominal crease in the tax on distri 23,54
buted profits, which will affect 36.14 nominal the amount of dividend a com- United Press.
pany will be able to pay out, might now cause these share- holders to overcome their fears.
45.35 bid
44.85 bid
39.4
38.71
Spot
May
July
December
October March (1952)
May
July
38.00 bid
-United Prest.
30.60
30.41 bid
ECA, FUNDS
DISPUTE
Grain Market
Upset
Chicago, Apr, 11.
of
BANKS
New York, Apr. 11.
An estimated $1,000 million was sliced off stock market values in early trading in Wall Street- today following the news of General Douglas Mac- Arthur's dismissal.
Sales of so-called "war issues" were heavy. 50-60% Observers felt that General MacArthur's removal might serve to open the way for talks on a Korean peace settlement.
July/September October/December United Press.
SINGAPORE MARKET
There was a marked recovery from the lowest paint of the day, however, and higher prices were paid for so-called peñoe stocks.
Losses were limited to about $1.25 a share, and gains ran up to as much as $1.75 among the
Singapore, Apr. 11. Prices of rubber futures closed here today as follows:- Number 1 rubber, per lb.
193 -199 Apru May
103 -100 June
192 -193 Number 2 rubber, April 187 -188 Number rubber, April 170%-100% Number 4 rubber, April 175 -178 Spot rubber, unbaled. 1083-1984 | leaders, ---- Black crepe
153 154 No. 1 pale crepe
218 223 United Presa.
#
two-10- But minus signs had one edge over plus marks Out of the 1,112 Individual issues 566 traded, 278 advanced and
FOR declined.
DEMAND
IX Bank .. 1355
50 1350
00 @ 1350
50 1300
TEXTILES
103
24 0 22 130 € - 13
Fast Asia .. INSURANCES
Union IK Fre, XD 134 SHIPPING
72
5.20 1000
100 124
Asia Nay..... DOCKS, ETC. -** K. Wharf XD N. PL. Wharf Dock XD Providat XD Shal Dock.. 200
ETC.
LAND, BA
HK Hotel
HK Land UTILITIES
Tram
0.00 3915
400 40
13 12.30 900 @ 11%
1000 @ 11%
200, 114
4000 @ 12.
700
כל ח
Colonies
At Rubber
Conference
London, Apr. 11.
Trading presented a complex A British colonial and de- picture. This is the fourth pendent territories delegation to hit the Rubber Study Group will time the market has been hard
and forced down by attend tire eighth meeting rumours of impending peace in which opens in Rome on April New York, Apr. 11. Cotton textiles were quiet Korea or a belief that a cease-18, it was anounced here to- and steady. There was a fair fire might be in the making. night. buyer interest in re-sale 80- Each time there has been a square print cloths, with prices recovery. tending to move up to levels.
Today was no ex- coption, although the swing back didn't begin to wipe out The goods market was quiet, all of the loss. Washington reports indicated
STRONG GROUPS
the
Sir Gerard Clauson will lead the British colonial delegation and Mr A. Heywood Wadding- ton will be the other delegate. Advisers
will be the Tuon that the Office of Price Stabili-
Sheikh Ahmad Bin Sheikh
Mr K. Frazer, Mustapha, sation was considering another
President Truman's dismissal Khoo Telk-Eo, Dr R. B. New- interim order on yarn and wool fabrics which would take into of General MacArthur found ton, Mr Eric Miller, Mr R. 1
P. account cost increases since the the British ready to negotiate Hamilton, Mr E, G. Holiday. 124 turn of the year.
cease-fire in Korea with the and Mr W. J. Richards and Chinese Reds
Secretary, Mr K. B. J. Groups notable for instances fecting the poor converter: de of strength were radio-televi- / Huijsman, will also be present.
air lines, oils, slon, distillers,
The Rubber Study Group. and utilities. These particular was formed in 1944 by the groups are generally classed his Goverments of The Nother- the
ones that should benet lands, the United Kingdom and most from a peace economy. the United States, and was later
Transfers were 1,420,000, Joined by France. Stumblers Included Chesa- peake & Ohlo, Northern Pacific, American Cyanamal, American Woollen, Douglas Aircraft and Lockheed.
Ghar Torry
Rayon goods were easy,, rom
073.
C. Light (0) 636 6.20
10 mand-Assoclated, Press.
6500 @ 6,13
C. Lht (N)
C. L4ght (B.)
Sectio
to
· INDUSTRIALS
Gemeit
Rope
The grain market was upset by the surprise dismissni General MacArthur from his Prices Far East commands. cased, but did not drop sharp- Paris, Apr. 11. ly. Wheat closed from one Belgium has till April 30 to one and one-half lower. provide Greece with $7,000,000 May worth of Marshall Aid funds or July that amount will be cut from l'a|September current allocation of $58,700,000, the Economic Co-operation Ad- ministration announced hero
today.
$2,47-2.40%
2.40% to 4 2.49% to 6. Cora: unchanged to 1⁄2 lower. Oats: % lower to % higher. Rye (old style): 1 to 1% lower.
Boybeans: tinchanged to one
Mr Hungtington Gilchrist, of cont lower-Associated Press.
the ECA Mission to Belgium,
to
made this clear today in a note:
the Belgian Minister of Foreign Commerco.
A· «Belgian court recently *trozt $7,000,000 worth of funda-due to bo used by Greece for payment of a 25- year-old debt-Router.
Big Order For Hamburg Yards
Hamburg, Apr. 11.
STORES, ETC. Dady JD
Watson......
COTTONS
* 88*88*888 888888888888:
2500
1214
13 1000
13.70
3.00
TIN MARKET EASIER
~London, Apr.11..*. The tin market closed easi was 58, toms, all for the months. Prices closed today at the end
A Hamburg ablpbuilding firm at
is to start work on a 40,000-ton tenker-the biggest ship' placed the- -war-it was announced here today.
Exchanges In NY in Germany alace the end of
New York, Apr. 11. Closing, foreign exchange: The verso, together with Canadian
04.00 three 18,000-ton tankers, is to Belgium
1.98% be delivered to Panamanian Others unchanged. “Associat= | shipping" interests by the end of ed Press.
1902-Reuter
Ship Movements
1 Low Alignes, Apr. 11).
Ship departures: Grove. City Victory, for Yokohama: "Evené this, for Yokohama: Binghampw ton Victory ION Associated
Copra Price Up
the morning ccssion. Turnover
of the official morning session, as
follow
fipot tin,, biyers Spot tin, salern Businam done at Three-monthe din
Bustos, donc at
1,100
Dited Press.
Exchange Rates
[23ustraum) was done New York ADK 11 whomel leghen
morning, at the following rate Dealers quoted copra nominal», sterling #notext per a patter dicat: $310 per, short 'tonyuup: 303/dollars fook $2.603). Ceccanit all was bitated frdenesh fruidvat
New York Sugar Futures
New York Apr. 11. Domestic sugar futures. No. Six closed one lower, May!
*5:21 nominal July
5:44 bid September
World sugar futures No Four closed two higher. lower.
May
July
September March
May
By the beginning of 1950, 15 governments had joined. The Group has no exocutivo fime- tics but aneo's "periodically to Among
watch developments and pro- the gainers
continued Information Zenith Radio, Eastern Airlines, vicles. Grumman Aircraft, American relative to the whole position
of rubber---Reuter. Airlines, and Anderson-Prichard
were
to five oil.
542 nominal:
5.44 bid
Dow Jones averages,ehti Stocks
91.90
20 Industrials
249.76
844 bid.
Railroads
81,59
10 Uullties
42.67
Japanese Bonds Again Up
5.00 nominal 5:04 bld How sugar mat: 3.70 nom. Associated Press,
NEW YORK BANK
QUOTATIONS IN
Now York, Apr. 115)
Closing bank. quotations:
Router and Associated Pres.
Russia Repays.
Canada
Offawa, Apr, 11,
Bank of America: 26% bid, Russia has fully, repaid, ligr
28169arked
Chafe National: 2819 baked, HOVE,
National City: 47
2040 $2,000,000 Canadian Toan granted 30% bid, after the end of the second Cursory: World War, the Finance Minis-
Japanese bonde
London, Apr:
"of 1809) -1910) 1907)
"" los, of +1934)
Consols
➡United Press," New York, Apr. 11.
! The murpridy switch in the Her
at brought fuctuations is the Foreigne dollar bond; sections moelly.cn the downside in,
bid, 40% fer, Mr Douglas Abbott, als Japanese and Austrálian Issues, a
dored tonight in his Budget for the greatest drop in Lapsatse
Tokyo-Chy Ds Jout
A poem China” Crichpalova.” Lardie, Loseus of a point or moto
|ment (56#, STOLNADIA
Metals
Vorway all paid off part of Tol kia, France, The No harsands were taken by Orient Develope Pand·
Ipons from Canada to purchases tained fractionany,
Tottro City goods and services here. Indo and
the Government Jiebla was the only foreign major.
overnment that made no repay.. ¿York; mînt in the" facal,year"" ended (and the '33⁄4ás dropped
March 31Reuter, 1120
the metal market