THE CHINA MAIL, MONDAY, APRIL 16, 1951.
MESSAGERIES MARITIMES HONGKONG
M
ARRIVALS
"LES GLIERES" ...... from Europe
SAILINGS
M
PASSENGER/FREIGHT SERVICE
"LA MARSEILLAISE"
"LA MARSEILLAISE" "FELIX ROUSSEL"
"CDT DORISE”
"SAINT VALERY"
"BREST"
1st May
8th May to Japan via Manila ... to Marseilles via Manila 19th May to Marseilles
..... 23rd June
FREIGHT SERVICE
N. Africa & Europe 8th May ..N. Africa & Europe 14th May ...N. Africa & Europe 23rd May
for
PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIEŇ, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.
CIE DES MESSAGERIES MARITIMES Queen's Building
SHARE MARKET
Business was somewhat slow
on the Hongkong Stock Ex- change
when this morning, transactions in the half day's trading amounted to $100,375.50, Noon closing quotations:
RITARES BUYERS SELLERS BALES BANICS
IDC Bank 1340 1375 14 @ 1350 103 Est Ala
INSURANCES
Union .......... Underwriter
SHIPPING
Asla Nav.
DOCKS, ETC.
Boc
N. Pt. Whart 415 8.10 Shat Dock.. 2.00
LAND, ETC.
Tel. 26651 (Three Lines)
HK Hotel HTC L
8.60
UTILITIES
Tram
114
1500 12
C. Light (0)
Light (N) 350 C. Light (9.) 5.80 0.10 1000 # 6 24 1200 24 Electric... 2332
Telephone
INDUSTRIALS
Cement Hope
..
STORES, ETC.
10% 1115 1000 11
1312
Dairy XD .. 12 Watson ...
13
500 17.50
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & FIULADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
Ir. Crawford 2435
COTTONS
Ewo
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 3
May 19
May 30
2.00
QUIET DAY
BUDGET REFLECTIONS:
ECONOMISTS DOUBT IF RI INFLATIONARY "GAP"
WILL BE BRIDGED
(FROM OUR OWN CORRESPONDENT)
London, Apr. 15.
The Chancellor of the Exchequer's Budget proposals have been generally accepted as both sensible and fair. But if criticism has been not because the Charicellor's position, is slow in developing, it is unassailable. On the contrary, the mildness of his Budget has implanted doubt in many minds.
The question is not so much whether the Budget | proposals meet the double requirement of paying for de- fence and paying for the burden in the fairest possible way, but whether they go far enough to ensure that the country will be guided safely through the period of economic stress that lies ahead.
The confidence that
the profits. The
Financial Time'
dex spunted two full points on
Chancellor places in his trial ordinary shares in- 婚 in
marginal adjustments taxation to bridge
Small Car
Attracts
Wednesday, and by Friday Americans
by a furthor this
had risen
1.3
points to dis highest level for
over three years.
the
sand
ON COTTON expenditure. Their argument is building and Mining aliares
MARKETS
New York Apr. 14.
that economies simply must be made somewhore even if they cut noross social services.
MARGINAL NATURE Growing realisation country's economic plight has
of
the
WCTE
Removal Of Confusion
Detroit, Apr. 15.
*
ROYAL
L
INTEROCEAN.
SINGAPORE JAVA. PORT and MACASSAR
"VAN HEUTSZ", " "TJITJALENGKA”
"TJIWANGI"
•
ARRIVALS
In Port 27th Apr, ..11th May
also calling at Penang
•
MANILA, EAST &
SOUTH AFRICA and
SOUTH AMERICA
"TEGELBERG”
**TJIMENTENG" "TJIKAMPEK”
JAPAN
**TEGELBERG" "TJIMENTENG"
"TJIKAMPEK"
LINES
Belawan
ARRIVALS
7th May
17th May
ARRIVALS
11th May
SAILINGS
18th Arr. 1st May 19th) MAT
Dell
DA
SAILINGS
13th May
SAILINGS
10th May.
19th May
Agents: HOLLAND EAST ASIA LINE
EUROPE via MANILA
and MALAYA "ALMKEBX" "LANGLEESCOT "ARENDSKERK" Through Its/L fasued Mediterranean and Northern European Ports,
JAPAN
"ALMKERK" ↑
"LANGLEKSCOT" + "ARENDSKERK" +
+ via Manils.
to
ARRIVALS
.21st Apr. 18th May
ARRIVALS
SAILINGS
22nd Apr. 13th May
Mid, June
SAILINGS
.20th Apr.
. 11th May
25th Apr.
.MIL. Jung
24th May
RING'S BUILDING, TELEPHONESTE28011 STOREBITES.
SMOKINGSTENTE, STEELLE 195 MAURITSIRKDECETINESUMU
0.30 2160610 year's inflationary "gap" is not shared by all econo-
There wore falls of up to The market for smaller auto- mists. His estimate that one point in Gift-edged securl-moblies is attracting more in-
view that the dustry attention. this "gap" will be in the tea on
Budget will still leave ma un- This is disclosed in Fords' an- order of £150,000,000 may
covered inflationary "gap" and be too conservative if rising disappointment that the beer Bounced plans to bring over its prices do not have the de duty was not reduced led to a most recent British-bullt Con- zul model. It will try to better sired effect of reducing fall in Browery shares,
the sales achievements of its im- olowhere markets
ported Angila and Prefect domestic demand for con- steadily thend
models. Ford has built
conel- The higher purchase tax onderably Bumer goods.
more refinement Into The Opposition have opened radios and television scis caus their
3 attack along breaded an initial marking down of the Consul than was evident in the first of the smaller units it front. They have, on the whole, Radio kates, but there was a
imported; socepted the Chancellor's pro-quick recovery on the assump-
detomament would The new model is going to posals though, no doubt, they tion that
directly with Nash's wEl Have
to say keep order books well fillod compete jot more
Frazer's about the Increase in the tax ark more than oftact any fall- Rambler and Kaser
Henry J. cars. Nash and K-F on distributed profits but they ing off of evilian demand
Other drong features were report these smaller velictes have very grave doubts about
The Textiles, have been well received. K-F his assention that no economics Rubbers, Oil
Ship-saye much at # charp sales can be made in Government Chemicals, Plastics
upsurgo last month and through the first quarter of 1951 was due to heavier demand for the Henry J. model.
Nash is reported planning another addition to the Rambler line this summer.
that these It must be noted Cotton futures today worked caused many people to wonder
smaller models are quality cars. year narrow what will happen next an extremely
They cannot be clarified as Nearby when the bill for defence wil
cheap vehicles. Fully equipped, Umit in quiet trading. May continued to be traded at be even bigger. On this subject, significantly
they cost fully as much as the standani size lowest priced ceiling level of 45.30 cents Mr Gaitskell was
and unforthcoming, though he gave selling pound. Local
models in the lower price field. notice that the initial allowance
But they met
offer do helging operations
high of 40 percent for income tax
New York, Apr. 15.
general #ggressive trade demand. The
and profits tax on plant and continued slow denand
Much of the present confu- gasoline mileage and Lor
machinery and 10 percent osion in the scramble
for de- operating capmy, obtainable spot cotton, with the uncertain industrial buildings, mince and
New York, Apr. 15. international situation, kept
fence metals is expected to be in no other curs. Their smaller is not over- wheel base, too, must be suspended oil wicks
removed by the government's į
Business and industry went with production many traders on the sidelines.
| next year,
tainly it is not apparent The marginal nature of his new Controlled Materials Plan emphasised in appearance, Cer-
and expansion plans this week, ignoring the possi- The market opened un-
drivers or passengers, changed to 6 points higher.. At Proposals is a clear indication going into effect on July 1.
plan, announced fast
In the recent economy trials bility of peace moves and the prospect of stiff the, close, the list ruled 14 of the dimetty he must have
applies only to steel, the Nash Rambler Entry and
aluminium. But covered
hmaterial controls. Next copper
81.06 miles on each NOTICE TO CONSIGNEES Į NOTICE TO CONSIGNEES points lower to 5 points higher. had in finding revenue to All week.
von this year's "Fan! even
There was a re-awakening of bullish ten- year, there will be that much these are so basic in manufac-gallon of gas used. The Henry
industries that most turned up an average of 30.1 dencies on the New York stock exchange. Auto- less
manoeuvre. Luring room
will
Ford re metals turn to other Where will he then
con-milos to the gallon. find much the greater amounts trolled indirectly.
ports
the Consul model has mobiles were rolling off assembly lines at an in- the needed for
the Under that wil be
new CMP the done 37 miles to a gallon.
The Consul, of
course, did creasing rate: year of the rearmament national authority will parcel out second
In the tough Crude oil production was at economists said Inflation caused sted, copper and aluminium to not participate, programme?
Grand 'to the
1 record high, Steel mills top- the rest. We are now so heavily taxed defence and essential evil indus- Los Angeles
capacity that any further
additions tries to guarantee them the Canyon economy run-Associa-ped their theoretical
for the sixth straight week el- would inevitably lead to infla- amounts they neat.
though the Makers cú non-essential con- tion. Next year the Chancellor
automobiles, whether he is a Socialist or sumer goods
appliances Conservative will have to refrigerators, hane face this problem and produce and so on wie have to get their needs from what is left, probably the answer to it.
for Freights and Further Particulara please apply to:-
'AGENTS:
JEBSEN & CO.
Pedder Building
CONSIGNEES PEN
'HARGER-WILHELMSEN LINE
1.4. TUDUR"
are hereby notified that their cargo Is being discharged its the Hong- kang & Kowloon Wharf & Godown Co's godown where it will be ut consignees risk and subject to the Wharf's
and condition of tertus storage, and where delivery may he obtained.
Damaged packages are to be left in the godowna for examination by Consigners and the Company's sur veyors, Meers.-Goddard & Douglas at 10 am, un the 17th April. 1951.
General Τα comply with the Bonded Warehouse Regulations, con- rifices must have a fevenue Officer in attendance when damaged duti- able goods are examined.
No clatins will be admited after the goods have left the steamer's godown, and all Kooks remaining Undelivered
April. after the 18th 1911 will be subject to rent.
All claims against the steamer aust be presented to the Under- signed on ur before the 29th April,
Tel. Nos. 26661-3.
CIE DES MESSAGERIES
MARITIMES
Consignees per Company's
.. "BREST"
are hereby notified that their targo is being decharged into the Honk icong & Kowloon Wharf & Godown Co's godowns, where it will be at Consignees' risk and subject to the conditions of Ward's terms and storage, and where delivery bo obtained as soon as the gooda Are landed
เ
may
Damaged pockages are to be left in the Godowns for examination by Constimees and the Company's kur veyun, Messra Goddard & Douglas at 10a.m. on Monday, 10th April, 1931.
General the To comply with
Regulations Warehouse Bonded Consignees must herve a ReverIO Ooor in attendance when dam- aged thrtiable goods are examined.
No clans will be admitted after the goods have left the steamer' Rodowns, ed i goods remaining undelivered after 17th April, 1911, will be subject to rent.
within
the
Prices closed today as follows:-
Spot
46,00
May
45.39
July
44.71
October
30.72.
December
30.03
March (1892)
30.74
May
30.70-33.71
July
38.37
October
37.00 United Press.
Closing rate
Apr
14.
Spol
44.01
Miny July
40,20
44.56
October
39,70
December
-38.93
March (1932)
38.02
May July
30.70
October
30.32 bid 30.03 United Press,
NEW ORLEANS MARKET
₤1
SAVING SOURCES
Over Metals
The
ba
on a percentage allocation basis
hoav much- The need for, rearmament is depending on
nds disputed; therefore, muts in consumed in some previous base non-defence expenditure can-period yet to be determined.
not be delayed langer than a year.
bimedit
Metals producers, instead
of
Exchange Rates pointed out the way by pro- with regard to essentant busters.
ied Press.
INVESTORS
RETURN
to
Business Expansion In America Hitting New Record Pace
rate was down
slightly from the
week,
spots in the picture;
In several sections
FOOD PRICES.
Inflationary factors were very the previous
In motion during There were some dark much
workers weck, but there were also some were Idle deflationary factors in evidence, Dun and Bradstreet's whole- due to labour troubles or con-
decilnes sale food price
index levelled de- off after three successive clines. Retall meat prices in New York were reported un-
for the third changed secutive week.
TO version or business.
WALL ST.
which were partly seasonal.
Meanwhile, leaders in bust
ittle
con-
Consumer spending is TO- ported about uncharged despite widespread sales.
In which direction can being overwhelmed by individual defence priority ordons, will at those cuts be made?
Mr Gaitske
has least know where they stand Meantime, metals people are posing a charge of about hi of the cost of false teeth and awaiting Government orders
definito
price ceilings was done in the local spectacles supplied amder the putting Business
metais. BCTD this Health
Berondary market exchange steamer i unofficial
The Service.
lead, nickel and morning at the following rates:-
source of possible saving is in zine, copper, 15.58 Government subsides food aluminium. Many scrap prices General MacArthur
on
Later development of Govern- 17.50 malde, they 1:18 general rise in the cost of iv- prices for primary metals, a ment plans to continue its proved chances for pence with devel for the second consecutive 13.15 ing, but gainful as this would situation which has channelled giant defence effort for a long
All claims against the must be rented to the under-
2031 or they will not be recognisect.signed on or before 5th May, 1931,
No Fire Insurance will be effected.
DODWELL CO., LTD. Agenia
Hongkong. 11th April, 1951,
or they will not be recognised.
No Fire Insurance will be effected.
CIE DES MESSAGERIES
MARITIMES
Hongkong. 12th April, 1081,
Sterling not (per 2)
U.S. dollars (per 31)
Indonesia guilders (per 100) 9am tical (per 100)
Singapore (Stails)
FIC plastres (Der 100)
FLIGHTS TWICE WEEKLY!
A NORTH &SOUTH
TOAS
SINGAPORE BANGKOK★HONGKONG✩TAIPEH TOKYO CALL 58865 PENINSULA HOTEL KOWLOON.
second on
ress and industry paid attention to political moves or Now York, Apr. 15. diplomatie manoeuvres as they Industrial stocks rose sharply stuck to their job of supplying
came within the nation with materials,
be this week and
would not a shade of hitting a new 20-
They just
The Federal Reserve Board, on the for instance, year high. The rise came after the
convulsion brief
when quoted
effects of the removal of General which reported on the first week was dis-
Douglas MacArthur or the belief in April, said Department store of British officials that this imgales fell below the year ago
week, Red China,
Most
6.0299 and rent. If these outs were order
under tho generei freeze missed..
1.20
Pacific Far East Line, Inc.
DIELECT
Fast Regular Trans-Pacific Service
BAN FRANCISCO, LOS ANGELES
Versi
HEDGAR › LUCKENBACH“
#J, L. LUCKIKBATERA,
PHATDEW LUCKENBA CH
OVERLAND
NEW YORK-CIFICACIO DETROIT-TOKONTO XIONTREAL-AND-ALL-AMERICAN & CANADIAN_CTITES.
Balls
Пом
Atrivua
Ban xanciaco Strattò
San Francisco
.Apr. 20
Hay
May 23
Joh. 11
Apr. 50
For fail
United Biafea.
30%
Bindesione, Djakarta,
•Dorbay Karachi Ban Francisco via Kobe, Nagoya A. Yokohama Sari” Frabolos, Dr. Los Angeles Bar: Tomooloo & Los Angeles
Via Yokohama
Agents, Queen's Building, Tel: 881
would lead to a
are above the
celling
defence economy,
thought any
supplies away bo it might be
of them preferable to scrap
from time, assuring high production the alternative,
traditional users like refineries
turned many les and employment, The Budget had a mixed and smelters
investors back to the market forthcoming peace talks would Demand for all the major They bought top-grade denses have only minor effects on the oepilon on the Stock Exchange.
continued unabated in Investors wore naturally dis-metale
in the industrial section, Rall-
back sharply, Even a negotiated pruce in mayed at the increase in the Substantial number of requests roads also came
x on distributed profits from for copper were made to the but were still well below their Korea, they added, would not Interrupt the huge rearmament 30 percent to 30 percent, but NPA by
that
for
to a showing down of industr
sald expansion Haying
this,
however, investors immediately
holding highs set earlier in the you ll programy.e.
made a rush for more Indus- TEXTILE MARKET |";
trial equities.
GREATER DANGER
UNSETTLED
13.
Yeatridaying
RAPID SWITCH
atmply
Sales in that week dropped in contrast to an average gain of nine per cent under a year ago 14 per cant during the Jan. 1- April 7 period. Associated
Press.
American Shipping Tonnage Up
Consumer on the whole their worst fears priority ratings. They want The market of Friday,
deliver but have April
been. 13, were not realised.
Gent the industrial average Sales The maresse in the disk unable to find the metal, Copper up more than 3 points.
the buted profits tax has been con sales on producery order books crossed 2,000,000 shares for demned as an attack
The stiffer controls announced shipment already April
first time since March Oila
the Nation! Production (sociion of the community with total around 100,000 tone, with stood out as a viareby
they said, Authority, provides rible capital for coono- Muy business at 26,000-Asso- of the week and netted
gains Railroads
emphasise the increasingly rapid mie enterprise, which may lead cintod Press
substantial were higher. Automobile Issues switch from a civilian economy. made one of the best showings
The NPA's Materials Control with General Motors reaching
Plan, adlar to one used dur- the a new high for
War II. becomes World cals ros***
oni sharply
with effective on July 1. It will de- and!
the week Sicals.
advanced. 1our scarce steel, copper, and The greater danger of the
to defence and marease in
New York Apr 16. Non- the distributed
streng-ahmlaium Non-ferrous metals Worth Street activity in cot-thened. Some building stocks essential civilian needs. profis tax des in s pobie chort on kampanes operating lon-gray-goods simmered down made gaine and salected far the indications are that the Masch
Some of them per to near the halting point this impliment
catire economy is being geared The additions brought the total Lixxlarly copper coupondes weckt.
United Pross "have:
for quick conversion to a war feet to 1,205 vessels of 10,350,000 operating
Afstion
Factors acling to shackle
foering if and when the need deadweight tans, including 830 already dramaferred their tread activity included the uncertain-
ariade
dry caro and coinbinations ships quarters overseas escape ties generated by the removal of high U. K. bagation. The in- General MacArthur from the contive to do this is piony much FBI ant in the long delay in
Far East command and disap
may not postpone the deckston kanco of the new
GOVEITI longer. Whether ment price celing regulations. countenance with the accent on peace rum-
OVSTOCKS,
of
Do
grender.. and some comgamdes
muach
Treasury wordd
the
a spate at applications fee ours, producers and consumers transder of cœpital ovmeraa; is backed away from the market another matter
United Press. .
If investors have their doubis about the wisdom of more asting the protits took, they appear ho
Fin na doubt abouble-ira
of Inflation, : 'There writability
of nativity on the wwwcagoon Vadday
Stock
after the Budget Inventoris
معلم :
were strong
Grain Prices
In Chicago
Washington, Apr. 15. The National Federation at Shipptag reported American today that 40 chips were added to the privately-owned United States anerchant fest during
In the same voluntary man c4 8,074,000 tons and 456 tankers ner that intustry emplyed of 0,791,000 dos atton, the stort of Korean bos The March Thorense, Incftioki - tilitler, the nation's mana!-the transfer of 40 dry cargo ships. ficturore nooded nourding aral six Liberty tankers from the to continue their Fetteral Maritime Administration to private chip owners. In ad- one newly-built “super
Chicago, Apr. 10. Prices of grain futuros closed high production here today to follows:
Wheat price per pushel.
Rubbør Futures.
Espot May July September Decembe
In Singapore
Com Spot
Singapore, Apr. 14:
July
+Septeṁbber
Ryoj
May
180-1904 | Beriterah 150-107
rubber APTÍ
wéró encouraged by the fact Priécs of rubber futures cloned becabe Chantilly (Exachget contained, no here today as follows mention -- of congsfoort | Number 1 rubber, per ib. divido Hmitation, anal, alao Apri snormidacis May June Number AG STRONG FEATURES SAU Number
to the shpenco „D,
Black: erypa strong demarch for Edinety Sharon of icBorripariték?, ?W5080 | No. 1 pale. dividendo ano senik odvered by
July
| ~*^ Federal "Rösérva Board figures" was added and
attested to the fine record. In- dustrin production climbed to over-age dry cargo ship w
new post-war high in March, removed from United States dogg documentation, As of April 1, 17 the Federal Reserve said i,
Drama: Adminstration vessels.
tho
091
Come
reached 233 Der cant of sales contracte o 1935-39 ayorugë,
private operators but liten, black anit February and 218 not yet been transferred, thre
Federation mit December
รัช
cent
The telos production of all 45 100 reported the nation goods and services in the fist defence reserve fleet docroneed Aruarter jumped to an equal in March from 1,001 to 3,020 rato or US$314,000,000,000, a voids War-built dry cargo and Atverketarracination vosets in the Loui LDES 10,000,000,0 the foal an
decreased from 1,640 to 1,797, S Fth of the mblidža *1,407 are Liberty (anu), 85 Full of roat ace Violony type ships-Untou
Government Prem