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Tel. Nos. 26601-8.
STATES STEAMSHIP CO.
S.S. "COLORADO"
LOADING ABOUT 10th JUNE
FOR
VANCOUVER, SEATTLE & PORTLAND DIRECT
DODWELL
Agents
US Coke
CO., LTD.
Tel: 28021/6.
Industry
Heads Consumers Of Soft Coal
Cincinatti, May 13.
The increasing use of Diesel engines by the American railroad industry has resulted in a sharp drop in the industry's consumption of soft coal.
Long the Nation's leading All other industries used a users of soft coal-the raffroads total or 08,100,000 short (80,- fell behind coke producera in 271,000 metric) tons in 1950, 1948, and today they are also which also was approximately t:pped by the electric utility the same as in 1940, industry,
Retail dealers who sell coke to small
business concerns,
Diesels now handle 00 per apartment buildings, and pri eent of railroad pazsenger ser- vate homes purchased 80,000,000 vice, almost 50 percent of the shert (78,800,000 metric) tons in freight, and 60 per cent of all 1050. In 1910 they bought 90,- switching. About 98 per cent 200,000 short (82,082,000 metric) of the orders for new locomotans,
tives are for Diesels,
From a record of 155,800,000
short (141,778,000 metric) tons
THE CHINA MAIL, MONDAY, MAY 14, 1951.
Australia Buys Great Britain's Trade
Jap Iron
Toyko, May 13.
The Yowala Iron Mann- froturing Compatty han Rold some 2,000 tons of galvanised slicet Iron lo Australia and the Phdilp- plues for Junte August allpment, reports the Jiji frem, quoting Osaka trade circles.
pur-
Rellippines,
elsaken by the
contraels were
But
War
no Import Heences inued by the Philippines Government, the sources said.
The price in sald to be around $37
per ion, F.O,B. for No 20 sheet - United Press.
U.S. RAYON
Position: Exports
Short
Of
Estimate
London, May 13.
(FROM OUR OWN CORRESPONDENT)
Though the figure of British exports for April was a record, the first four months of this year point to our overseas payments not being securely balanced.
Last month exports at £241,000,000 were somie £34 million higher than in March, and £11,000,000 higher than in the previous record month of January. But our imports also rose in April-to over £311 million com- pared with £303 million in March, itself a record month.
Taking the first four months together our exports at £855 million were £166 million higher than in the cor-
SHIPMENTS responding period of last year, while our imports totalling
INCREASE
New York, May 13, Rayon shipments to domestic consumers in the Arst four
months of 1951′ totallest 426,700,- 000 pounds, an increase of 8 per vent over the same period last year, the statistival bulletin of The Textile Economies Bureau reports.
April shipments totalled 199,- 10,400 pounds,, a deeling of 3 per cent from the 112,900,000 pounds delivered in March, bul 7 per cent more than the 93,500,- 000 pounds reportext for April last year. The four months 16tal included viscose cupra yarn 111,500,000 pounds, viscose high tenacity yarn 104,800,000 pounds, aretatt yarn 195,800,000, acetaté Staple 40,900,000 and viscose Maple 63,790,000.
|
£1,159 million exceeded the 1950 figure by £345 million.
Sterling to find true equilibrium in the free market.
His reasons for doubting this are set out in an article in the The need to
Increase In Demand For
Petroleum
of
New York, May 13. Although consumption crude oil in the United States in 1951 is expected to be almost double that of recent years, twa leading American oil companies
target which takes into ac- Secondly, he believes forecast a yearly growth in
of
capacity.
But
and un-peg Sterling? He
The trade gap in April was narrowed to £70 million which, after allowing for the difference between CIF Financial Times. and FOB values of imports, restrict the flow of capital out represents an annual visible of the Sterling Aron, he says, implies that exchange controj deficit of some £480 million.
must
be continued in the near if invisible exports reach future, which in tura implies the Economic Survey's some restriction on the entry of estimate of £450 million-Sterling into the free market.
that a relaxation of the quantitative count- the extra money restriction of imports into the demand of from 3 to 4 per cent.
in the
next 10
10 years, expected from tourists in "outer Starting Area"-meaning
that most non-dollar countries- Current prospects аге Festival year-the position would do great good by reducing consumption this year will total 7,000,000 barrola (11.130,000 at the moment does not ap-claims un British manufacturing 7.08 pear to be too bad.
This would is il seriously hectoutres) daily. But our ability to keep exports proposed, he asks, that by one represent an increase of about at the Auril level over the rest heroic stroke the United King- 500,000 barrels (795,000 hecto-
litres)
over 1950
daily con- the year is in some doubt, dom should remove all import litr Some of the exports included restrictions (other than tariffs) sumption and about 1,250,000 in last month's total might have saves that such a move would over the 1940 figure.
be-barrels (1,687,800 hectolitres) been included in the March
Yet in the face of this great figure if there had not been ship-be unwise. Yet in what sense
would the free market enable increase in US, all demand, the ping difliculties during that Sterling to month. To that extent they do squilibrium if Import restrictions Jersey predicts that by 1860 find its "true" Standard Oil Company of New
U.S. petroleum demand will rise in production of export goods. Thirdly, he asks what would to
about
8,000,000 barrela Some part of the April.figure
many countries with
hectolitres) (12,720,000 happen if
dally. was probably due to price in-
balances at Sterling Economic frozes
present | The Sheli Oll Company forecasta crcases which the
dally
demand frozen were free to throw them ja Survey. Look into account as a
ranging into the murkol?
between 0,000,000 und 10,000,000 Mr Harrod makes his chief burrels (14,310,000 and 15,000,000 point on the
question of British hectolitres), by the end of the The annual rate of exports internat inflation. "When there's decade.
months;
Internal Geraany tears supers to the during the first four
inflation, whether open United States in the fire quar-however, shows that they stillt
fall sho of the Economicor suppressed a free exchange ter, delivering 21 per cent of
Survey's estimate by £200 market will
he says. "But this the spare capacities built up k will tend in recent years. Consequently, the 12 por est, United Kingdom 10 per cent and italy and Switzer Expectations. fand 9 per cent. Rayon filament
internal swaroves that the alt industry will nathing can be more yarn imports for the first quar- totalled 3,407,000 pounds, for compared with 145,000 pounds. the lowest figure since August 1950.
At the end of April, producers Glament yarn stocks totalled 1,100,000 pounds, Imports of rayon staple in March amounte:l
6,408,000 pounds, the lowest since April 1950. The cumulu- five finst quarter imports totalled 24,991,000 pountis, a gain of on per cent over the same perit or 1950.
not represent any actual
increase
factor in the balancing of our
overseas paymen13.
remain?
Current demand, fraco
the totai staple imports, France million while imports exceeded ourrency tend to undervalue sources say, is rapidly using up
Domestic production of rayon in the first quarter of 1951 totalled 326,200,000 pounds, only 1 per cent las than the record of 320,700,000 pounds produerd in the fourth quarter of 1950 and 8-12 por erit ahead of the Ane quarter of 1950.
First quartia prodation in- cluded high tenacity Viscose year-80,200,000-pounds, viscose cupru yara 83,800,000 pounds. acolate you', 81,700,003, viscose taple 249,500,000, acetate staple 230,900,000 pounds, United
Press.
Indonesian Materials
For America
Washington, May 13. The Indonesian Ainbasslor, Mr Ali Sistroamidjojo, said to day that his country is demand ing that rubber and fin prices
be maintained at least at the present level,
He also told the United Press, afler a visit to the State De partment, that Indonesia ex- pects capital goods in return for raw materials to the United Stales,
Mr. Sastroamidjojo spent on hour with the Assistant Secretary of State, Mr Dean Rusk and declined to say what was discussed,
of soft coal used in 1923, rail- US Bankers On charged
road consumption dropped to $1,000,000 short
(75,989,000 Visit To Japan
metric) tons, in 1930 and to 60,-
970,000 short (55,482,700 me- tric) tons in 1080,
The electric
of
But, he said, talks are con- tinuing on prices, that will be for rubber and tin for the Free World's rearma- ment programme. No decisions had yet been reached.—United Press.
Japanese Steel Output
undervaluation
increase
con-
•
Page
R. IL
ROYAL
INTEROCEAN~~ \\
SINGAPORE JAVA
FORT and MACASSAR "TASMAN" "TJIWANGI“
#TJIBADAK"
"VAN HEUTSZ"
"TJITJALENGKA"
• Now calling at Singapore
MANILA, EAST &
SOUTH AFRICA and
· SOUTH AMERICA
"TEGELBERG" "TJIKAMPEK" · "TJIMENTENG”
"RUYS"
JAPAN "TEGELBERG” "TASMAN" ***TJIKAMPEK" "TJIBADAK” "VAN HEUTSZ" "TJIMENTENG” "RUYS"
+ via Manila,
ARRIVALS
In Port £2nd May .24th May
15 June
1
LINES
SAILINGS Early Jon
18th May
9th June
ARRIVALS
16th May 18th May 22nd May
ARRIVALS
10th May
SAILINGS
19th May
Late June Early July
SAILINGS
Early June
20th May
23rd May
25th May
Late Juse
31st May
MJ, JuRe
Agents: HOLLAND EAST ASIA LINE.
EUROPE via MANILA and MALAYA
"LANGLEESCOT" "ARENDSHERK!
to
• not calling at Mantia,
Through BS/L lasted Mediterranean and Northern European Poris,
JAPAN "LANGLEESOOT" "ARENDSKERK”
† via Manila,
ARRIVALS
IRI May
ARRIVALS ........ 18th May . 10th June
SAILINGS 20th May. 13th Jund
SAILINGS
24th Mart
KING STRUALDINGEFFELTERONE SKELBIU SITO Z2101792
NOTICE TO CONSIGNEES
CONSIGNEES PER AUSTRALIA-WEST PACIFIC LINE m.. "BRYNJE"
are hereby notified that their cargo Is being discharged into the Hong- kong & Kowloon Whart & Godown Co's godown, where it will be at consignees risk and subject to the Whart's lenns and condition of storage, and where delivery may bublained.
Journal of Commerce here be This suggests that the increase in the price of raw maleria) and
its prox It follows that Me Harrod re-have to expand producing food imports expected during
alid reflaing capacities 1951 has been under-estimated. while
jects the setting free of Sterling r more than had been
the
rearmament pro- Our exports in May will have to
10 malotain originally planned in order rise substantially
ксер above their gramme is bound
with pace
increasing some degree of Inflation. level if our overseas
civilian demand
Ta in the next STOCK EXCHANGE payments are to balance. This
few years. is a cardinal factor in provent-
The rise in industrial equities This expansion
current
to
Damaged packages are to be left in the godowns for examination by Consignces and the Company's sur veyors, Mesara Carmichipel & Clarke nt 10 a.m. on the 1st May, 1031.
comply with the General Bonded Warehouse Regulations. comalgnees must have a Revenue
dullable goods are examined.
ing inflation at home and so it continued this week though ac- led, the Jourani". will be requir❘ Officer in attendance when damaged ;
is a serious matter.
No Sir
in
for defence
points out, tivity in the Stock Exchange addition to the new reserve pro- THE BIF
was on a more moderate scale. [ducing and refining capacity of The world situation British we The most successful
continues 1,000,000 barrels (1,590,000 industries Fair ever
and held has uncompromising
one hectolitres) daily which the U.S. just come to an end. According server sees the ban on rubber Government has asked the oil
the shipments as "yet another move industry to build Hartley ShawerOSS,
of the late 30's.' new President of the Board of reminiscent
purposes. Trade export order exceeded The electricity cuts this week reminded Investors" of "the" dif- expectations.
Jikely to reappear next ficulties winter, and Mr Gaitskell's
at macks on dividends, hinting Government action if the
ENT restraint policy is not respected, acted like a douche of cold water on the Stock Exchange.
The full results of the Fair cannot be assessed for some time but certain signs are available, Most notable was the increase in the number of overseas buyers who visited the Fair and the number of genuine enquiries and Arm orders they placed.
Foreign buyers seemed
tha: consumer assume
reached their | 00
prices have noi
These adverse factors
were
to partially offset by the news that Mr Edward E. Wilson, American goods industrial mebilisation chict, has
the
JAPAN GETS
U.S. ORE
1
San Francisco, May 13. Iron ore from Nevada is arriving at San Francisco Bay for shipment to Japan.
A local firm has signed con- milla
prak. However; the number of returned to Washington with a tracts with three Japan home buyers at the Fair de-Proper appreciation of our row ereased and this suggests that material problems and also by to supply 100,000 tons of ore. retailers and the public have
results
of Dunlop Rubber, The Japanese companies are the been buying up their future
ure Morris Motors and others which Yawala Iron and Steel Company, of showed that proflis exceeded the Fuji Iron and Steel Company needs. in anticipation
and the Nippon Steel Tube "rearmamen!" shortages and did even the most optimistic ex-.
Company. not wait for the BIF. Home Pectations.
Between ·500 and 1,000 tons have also seemed to duffleulty in financing new stocks. restraint and demand was more Richmond Terminal in Rich
ocks but In
Investors exercised greater daily are arriving at the Port A third important trend was
buyers
Industrial shuros went ahead
the difficulty experienced once that last wee
selective than of late. Hopes mond.
you
peter out. This has recid
of
No claims will be admitted alter
the goods have left the steamer's down, and all goods remaining Undcilvered after the 17th May, 1951) will be subject to rent.
All claims against the steamer. must be presented to the Under- signed on or before the 24th May, 1931 or they will not be recognised.
No Fire Insurance will be effected.
DODWELL & CO. LTD. Agents,
Hongkong, 10th May. 1931.
The Hong Kong Countryside
Throughout The Seasons
by
$25
Second Impression
again by manufacturers of en in gilt-edged marked the end of ship. Canadian Bear, will begin The Pacific Far East Lines last week's partki recovery to promise [1082
to loading the first shipment in the decline failed in time to suit potential their long delivo products buyers who were there in plenty. materialize and prices have now last week of May.
drifted back to their
The former had to Indeed, many exhibitors
to levels.
first 200,000 tons are G. A. C. HERKLOTS
from the being obtained discourage buyers from placing
in commodities some signs Standard Slag Company erder's altogether. The explana have been read to indicate that Gabbs, Nevada-United Press. tion "Raw material shortages,
know"
Was heard
often. the price boom is beginning to Some overace buyers who had favourably in oll ehares which been sustained activity in cop- seen recent European trade fairs did not believe the excure.
had been rother
by pera due to reports that America Excellent business has been investors but
the hag agrood to pay Chilean copper done by textile fruns which is recent fall in the price of the producers three cents a pound not surprising since the factors have led to a "shake- Copper prices generally are ex
commodity and other adverse more than the present price. Kelly & Walsh, Ltd. Court soction of the Fair was largely given over to dis-out" and prices have been mark-pected to be raised soon to this playing British textiles at their ed down drastically to absorb new level. Tins were weak on
the deterioration in the Eastern S. C. M. Post, Ltd best. But there was also keen the wave of selling. domand for such consumer goods In mining sharos there has pion as toys, leather goods, pottery and hardware,
Orders placed by Colonial buyers indicate the increased demand which has accompanied the higher income from Colonial commodities. Hardware and cotton plocegoods seemed to be
after, the goods most sought afte
Anancial
PIE
in
On sale at
and
| HONGKONG & KOWLOON
Pacific Fur East Line Inc.
Fart Rogular Trans-Pacific Service
DIRECT
BAN FRANCISCO, LOS ANGELEI
Vessel
WILGLA
OVERLAND
NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL AND 'ALL AMERICAN & CANADIAN CIXIKS
Sails
For
EOD 250.000 short (80.307- Bess with the Japanese in the steel and Iron products, ac- |-HEO Tarned that
Honolulu, May 13. Two Now York banking off- Coke producers uped 103,000, clals stopped here en route to 000 short (03,730,000 metric) Tokyo where they will in-
1050 compared fons in
withvestigato the possibilitics 91,000,000 short (82,810,000 extending commercial credits metric) tons in 1949, 05- to Japanese industries.
STERLING AGAIN Conis, cording to Appalachlan
Mr Seymoun Deibbon, Vice-
More arguments on the Incorporated, an industry mar President, and Me Charles F.
Tokyo, May 13. revaluation of
ion of Sterling have re- kating agency. Coke is used to Richardson, Foreign Department manufacture steel, certain p
Representative of the Chemieni
cpr- The Japanese Steel industrycently appeared in the the chemicals and synthetic gas, Bank and Trust Company, sald during the 1850-51 fiscal year respondence columns of
utility industry the Bank has been doing bual produced 11.957 tons of primary Anan
The view hus before. re- past 10 months tons in 1950, com-
under SCAP cording to a survey by the In-
valuation, Sterling should be EDGAR LUCKENBACH” pared with 88,700,000
ternational Trade and Industry allowed to find its own level in short aantoo
Mr
"MATHEW LUCKENDASI” Dribbon said, "we have Ministry. (80,717,000
a free, market. metric) tons In treen extremely
plensed with
Mr Roy Harrod 1949. About 47 per cont of the the way the Japanese handled
blographer of "OKORGE LUCKENBACE" Output Included 2,433,000 John Maynard Key
Keynes and trim-ke Nation's kilowatts are generated themselves financially under tons of plg: tron, 0,207,000 tons self, a by_ezaf-produced steam,
the Occupations and
rovalustion."fas:a Cement manufacturers.
of steel: Ingots and 3500,000 recommends now commit; INDIAN BEAR" ne going there to renew our con- tons of ordinary steel (rolled). quick expedient seedily available? counted for 7,007,000 short (7-nots with a view to working Secondary steel
ond Iron to check inflation and to facilitate 105.370 metrio) Jong In 1950, with Japanese banks and the products during the period pur production and defence effort For fall particulary, sati United". Bisten Line Do, Deboral Agen ta, Queen's Trailding. Toi: ps196. about the sÉMO is their con- | Governments älter the SCAP 13: reached: 488,000 tons, the in the next two years." But ho sumption in 1949,
survey, revealed. United Pre does not believe in the ability of
gone.”—United Pros.
we are
.
ARTivis
un Franction San Francisco
Ban Francisco: Gas Francico
May 18
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July (11.
May 10 ..
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Jun 14
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