MESSAGERIES
M
"LA MARSEILLAISE"
ARRIVALS
from Japan
SAILINGS
MARITIMES
M
PASSENGER/FR EIGHT SERVICE
"LA MARSEILLAISE" "FELIX ROUSSEL"
"BRIANCON" "BASTIA"
"AURAY"
18th May
to Marseilles vla Manila 10th May to Marsellies
23rd June
FREIGHT SERVICE
N. Africa & Europe 24th May N. Africa & Europe 15th June N. Africa & Europe 13th July for *
PORT SAM, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM,
CIE DES MESSAGERIES MARITIMES
Queen's Building
Tel. 26651 (Three Lines)
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO;
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S. "LEXA MAERSK"
M.S. "SALLY MAERSK"
M.S. "CORONA"
MS. "ANNA MAERSK"
M.S, "GRETE MAERSK"
M.S. "OLGA MAERSK"
ARRIVALS FROM U.S.A.
In Port May 31 June 14
June 4
June 23
July 24
For Freights and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
Tel. Nos. 26661-3.
German Volkswagen A New Motoring Power
Frankfurt, May 14.
The Volkswagen, Germany's Hitler-promised car of pre-war days, has grown to be a power in the post-war motoring world.
That is the lesson the West |
German International Mutor
Show is showing today,
The Volkswagen, Slightly Record Year.
more powerful than the British
Minxes and A40s.
!!
έκ
powered by a four-cylinder overhead
Of
udvangent in For Ford
Dagenham
valve
35-miles-to-
the-gullon engine. Independent springings fore and aft, and
hydraulic brakes.
wor
The
was its proving ground.. Its faults were ironed out in The frozen wosies or Russia and desert.
TOP RANK
1
London, May 14.
The Ford Motor Company of In the African Dagenham
last was
year responsible for more than 23 per cent of U.K. exports of Rebuilding of the Volkswagen motor cars and tractors. factory finished a year ago and
This was disclosed by the today 410 cars roll of the line every 24 hours. A second pro- chairman, Sir Rowland duction line is to raise this to at the company's annus) general 500
cors daily-lifting the meeting. Volkswagen to the top rank of Continental mass-proditced ears, The export price is under £500.
Smith,
THE CHINA MAIL, TUESDAY, MAY 15, 1951.
Price Decline
In U.S.
+
.
New York, May 14, Wholeme commodity
„prices.........ns_measured_by........ The Autoclated TrekM
weighted Index of 35 Im- portaui staples prices; de. clined to a new 1951 tow today. wuny.
10
206,71
The index compared with 207.58 OR Saturday and with 104.52 a year ago. The base year is 1920 which equals 100,
The Judex มส the lowest aluce the 200.20 of Inst Dec. 20. The previous low for this year WIN 207.10 on Jan. 2.
Declines in the wholesale prices of livestock, wheat and rye accounted for most of the overall drop. - ¿Associated Press,
Output Increase In West
NEW PRODUCTION RECORDS
PERSIAN OIL DISPUTE
IN ITS TRUE
PERSPECTIVE
(By. NORMAN CRUMP)
The confused outlook for British oil interests in Persia is of vital importance to many more than the shareholders in the Anglo-Iranian Oil Com- pany.
Irregular Trend On Wall St.
New York, May 14, The stock market turned irregular in the closing minutes of the seaslon today and
4.
•
A few figures will serve to bring this problem substantial number of the early into its true perspective.
guins slipped over to the losing column.
There was no great activity to The Anglo-Iranian oll-wide interests in other Middla the late session slide but it spoil- field is the oldest of those in East oilfields.
cd the market's attempt to pull the Middle East. Its annual power of these assets is difficult
The exact value and earning-itself out of last week's slump.
What activity appeared was output is about 31 million to
particularly if the in short-lived spurt, but it was tons of crude oil, and its Abadan refinery is lost, But encouraging that the volume proved reserves are about! they are for
from negligible, built up each time prices started 030 million tons. Its Abadanable has not yet happened. The
and in any case the irretriey forward. refinery is the largest in the company is still doing its pro- world, and it can produce per Job in Perela. annually about tons of refined oil.
Newer oll-fields in Saudi Arabia, Bahrein Kuwait and Kirkus le outside Persin. Their annual production totals about
25 million
53 million tons, and their proved
over
HONGKONG
SHARE MARKET
Traders continued to look the situation over carefully before making a move and they ro- turned to the sidelines at in- tervals to take another glanco of such items as the new tax proposals.
Nickel Plate and Santa Fe were among the stronger of the raft stocks with New York Cea- [tral, Pennsylvania, Southern Raliway and Southern Pacific Joining in.
ali
2
few
reserves are about 3,400 million. sons, Their join! refinery capa- city is only about 17 million tons It follows that the Persian oil-
US, Steel, Bethlehem, Republic Washington, May 14.
Youngstown and fields
moved are responsible The Economic Co-opera- one-third the Middle
East'
The Stock Exchange was again head a few cents. to a half tion Administration (ECA) opp. So far as reserves are in the doldrums when the marlar. today
General Motors, Chrysler and the balance lies the ket resumed this morning after reported new pro-overned,
other
advanced way, but this does not the Whitsun holiday. Volume of Studebaker duction records in Western feet the short-term outlook. business during the morning cents. Europe and called for even | From this angle. the all-station was only $57,465, Noon Goodyear Rubber was on the greater output to meet de-important fact is the size of the prices and the morning's trans-gaining side but Goodrich and
US, Rubber were off fractions. Abadian relinery. fence goals.
actions:- To complete the pleture, the
ahead-Boeing
Most of the aircrafts were Persian oil-fields now
United Supply
and seventh of that part of the
Lockheed. Douglas was on the declining side. world's oli production which enters international commerce. instead of being consumed at home. AN a source of oil for Western Europe in particular, Persia is of very much greater impulfanze.
Industrial out in the Mar- shall Plan countries has reached en all-time peak. 39 per cent higher than in 1938, ECA sad in a report to Congress,
The report, covering the last three months of 1050. said agricultural production algo es tablished a new record, 10 per cent higher than per-wor levels.
But, the agency cautioned: "Western Europe's production must be further expanded if defence programmes are to be accomplished without materially reducing living standards."
Bre
|
IF WORST OCCURS
There is no need to take too pessimistic a view, but assume for the moment that the worst occurs, and that there is a complete oil breach between Persia and the Western nations. The loss of Persia's crude oil wo i be bad enough, but if we were unable t. draw refined oll from Abadan. the immediate results would be still more serious. Already the
refineries world's
fully
are
SHARES BUYERS SELLERS BALES BANKS INSURANCES
East Asia ..
107
Unler XD.. Underwriters 3.25 SIUPPING
Asia Nav... DOCKS, ETC.
N. Pt. Whart 41%
Dock
Provident**** Wheelock LAND, ETC. "IK Land UTILITES
TEAM.
Star Ferry jon C. Light (0) 9.
715 20 3 712
$00
$500
1.00
Radio television shares were fractionally higher Admiral
1.06 Carp., Eme
Emerson, Phuco and Zenith, American Broadcasting was a few cento lower,
600 a 12
10%
24
33 KB
C. Light (B.) 0.50 Electric INDUSTRIALS STORES, ETC.
Rope Dairy Watson
12
11.30 1000 p 11.50
XD 1000 a 5an
Oils turned upward with Sin- clair, Standard Oil of New Jer- sey and Texas Company ahead and Gulf Oil off a little. Advances included tional Harvester, Edison,
2000 5.70 Gos,
Interna- Consolidated Consolidated Natural Anaconda, American Pont, General and International
Among the declines
2274 200 2215, Du
14.75 1212
1716
stretchied, and the disappearance Advance In
astrous.
die-
NY Cotton
ECA conceded that greater industrial and agricultural pro- duction will be difficult in com-
because of rising | *** ing months prices and critical shortages of basic raw materia;~-~-~-
But, it said, it is imperative at 25 million tons of annual re- for output to increase further finery capacity would be If the Western European nations
Such a calamity would not to make
a contribution to defence production
thely mean the reimposition of
of drastic petrol rationing in this magnitude that is needed.
Since the Marshall Plan was and other countries, but it would
New York, May 14. started in April of 1948, $12,- affect the supply of fuel oil for
ships and
Cotton diesel
futures closed un- 380,000,000 has been
road
and rail changed to 85 cents higher, engines.
Last but not least it May would
place
rearmament July
-Dalober programme in jeopardy.
A breach of oil relations would December
March extra-be just as disastrous to Persia May Associated herself. She may be able to July
tuke over Anglo-Iranian's oil-October
allocated to 16 European antions and the territory of Trieste.
trade is 34 Intru-European per cent higher than the same quarter of 1949, on ordinary rise."- Press,
Ceylon To Relay US
our
45,39 bid
43.12 nominal
39.48
39.00-11
30.00
38.09 nominal
38.51
30.48
**** 10.00
-Ansociated Press.
fields, refineries and local pipe- Spot middling lines, but she cannot touch the NEW ORLEANS MARKETS company's tanker fleet, its im-"|
New Orleans, May 14, portant interests in other Middle Cotton futures closed steady, East oil areas, Its refineries out 50-70 cents higher. side Persia, or its world-wide May selling
July organisation, Persia, 00, would lose oll roy les, October
December which are
her Government's March mad sourco of revenue. Nor May cold she replace with her own Spot middling
Broadcasts Beepit the British technical and
Colombo, May 14. The United States is to relay
of the Voice
America over Radio Ceylon, it was officially announced here today.
administrative staff.
45.39 bid 4339
Paper
were
Montgomery Word and Sears Roebuck, Kennecott and Ameri- can Smelting, Air Reduction, Eastman Kodak, Union Carbide and US. Gypsum.
Dow Jones Averages:
Stocks
20 Industrials
16 Railroads
10 Utilities
93.41
256.00 42.42
82,00
Associated Press.
For
Problem
Steel Mills
In-America-
Cleveland, May 14. How long can American steel mills -maintain their present 39.47 bid record-breaking output?
The amagazine Steel sak that is a question in the face of the severe beating production facili- ties have taken over the past year.
30.08 39.00-01 38.90 bid 44.03
-Associated Press.
Grain Prices
In Chicago
NOT PRO-RUSSIAN 'Whatever may be the Russian influence behind nil this, most of the Persians supporting the de- mand to take over British oil Interests are by no means pro An agreement was concluded Ru
Russion. They are actuated by today between
Prime motives the
of nationalism and Minister, Don Stephen Senana-"neutralism." Apart from this, yake and the United
States they would be quite unable to Ambasador, Mr John C. Sutter-sel oil to Russia. They have no
ent said. Whe thurite, announcement
tankers. The construction of * her alli- Simultaneously, another
pipe-line from Abadan to the Battling hard against
Six, clat announcement gave
May Casplan would be a superhuman text of letters exchanged e-task, and now controlled by the ivor the expenditure
Buch rallway com- July tween the British Secretary of munication as than 231⁄2 million on
Beptember US, General Mclors Corpora- more
exista is quite December Re- tion The firm
Commonwealth are exporting tealing and development, Apart State for
inadequate.
Corn Mr Patrick Gordon- 30,000 vehicles a
Spot year, almost
In these circumstances a new
MAY a third of total German.
Great Britain July export. པས Coming up steadily with 4,000 cars a month are the conserva tivo Mercedes-Benz concern.
Opel,
He said that output in 1950 constituted a record. The intro- duction of two new 'Consul' and "Zephyr
It is volved
Their cars are solidly built years. for leng service and compare favourably with British cars of mate the Rover type. Germans pay under £800 for the popular type 170S.-London Express Service.
JAPANESE MATCH
EXPORTS
models,
for the
lations,
ago,
Volge
the year the firm United arrangements assembly of its vehicles in Brazil and Holland while Ausrolin, Egypt and South Africa began to assemble is tractors,
anid of America
more
•
Page
RIL
-ROYAL ~~~~--INTEROCEAN- LINES
SINGAPORE JAVA PORT and MACASSAR
"TASMAN"
"TJIWANGI" "THIDADAK"
"VAN HEUTAZ" "TJITJALENGKA”
MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA TEGELBERG"
*TJIKAMPEK”
"TSIMENTENG"
"RUYS"
JAPAN “TEGELDERİ” "TASMAN" "ТПКАМРЕК" "TJIBADAK” "VAN HEUTSZ" TJIMENTENG"
"RUYS"
† vla Manila,
Agents:
→
ARRIVALS
In Port
.22nd May .84th May 1st June
ARRIVALS
17th May 18th May 22nd May
ARRIVALS 10th May Early June
SAILINGS
Early June
18th May
6th June.
SAILINGS
18th May
Late June Early July
SAILINGS
20 Mart 23rd May
28th May
.Late June
Sint Mayt
Mild, June
HOLLAND EAST ASIA LINE
1. EUROPE vis MANILA
and MALAYA "LANGLEESCOT" "ARENDSKERK"
• not calling at Manila,
Through Bs/L issued 40 Mediterranean and Northern European Poris,
JAPAN "LANGLEESCOT" "ARENDSKERK”
† via Manila,
ARRIVALS
. 18th May
ARRIVALS
. 18th May 10th June
SAILINGS 25th May"
1201 Заде
SAILINGS
24th Mayt
NESS BUILDING ZIELEPRONES EDUSA10 but t
Increase
In Chilean
Main
Copper Price Interest In Metals
New York, May 14.
Chile, the United States' chief-source of import- ed copper, has been officially granted a price boost of three cents a pound, but so far there is no word as to who will pay the increase.
Tnis and other unanswered questions on the Chilean. price agreement overshadowed these other developments in non-ferrous metals last week.
1. The House and Senatel 4. The Government announced accepted compromise bill its tungsten price support pro- suspending the two cents # gramme would cover all tung- pound import duty on copper, sten produced in this country, and sent it to the White House. but said it would buy only con- The duty would be re-imposed centrates instead of ore as an- if the domestic price (now 241⁄2nounced earller. The base price cents) drops below 24" conts remains the same 503 short a pound.
lton unit.
CHILE'S PRODUCTION 2. It was announced that The
copper price agreement tariffs on lead, zine, aluminium with Chile was calculated tu and several minor metals will be
spur a substantial increase in trimmed on June as a result production there, most of which of the recent tariff conference will be available for U.S. de- at Torquay, England,
fence needs. The U.S. will
When ratified by the nations provide priority to help Chile in signing the agreement, the duty
uty obtaining the necessary equip- "Certainly," said Steel, "the on refined lead will be cut from ment. steelmakers are showing
2% cente a pound to 1-1/1G concern and with the vacation cents and on lead in ores from try was not informed as to how flowever, the copper indus- season approaching they are refined zinc duty will go to 7/10s would be handled so as not to 14 cents to of a cent. The
the three-cent price boost giving thought do utilising def idle time for mill repairs.
of a cent a pound from
and
nd unsettle the domestic and
Last Wot rate held steady | 3/8 of a cent a pound of zinc i
national
at 104
Chicago, May 14. Prices of grain futures closed here today as follows:- Wheat-pNee per bushel Spot
2.3876.94
13-2.4415
2.47
1.801:
1.7794-9
1.0793-3
2014-36
1.9033-15
December
Rya
0734-6335 Pa-08 New York flour-per 200 ib. sack, | $13.00.-United Press.
NY Exchanges
from this, capital expenditure Walker, and Mr Sananayake on during 1050 amounted to mora
the ending of B.B.C. relays accord between than £2 million, and a further expenditure of some £8 million over Radio Ceylon two days and Persia is the only solution. September
It would doubtless include A is envisaged over the next threo
for sharing May The announcement about the new arrangement
Persian July the proceeds of the During
ĎAL the oil-felds; also, perhaps. Persian May would furnish | DU- States
the Board July Ori and instal certain equipment for representation
of Anglo-Irani m.
particularly the use of Radio Ceylon in re-
the prevent agreement turn for the broadcasting facili
gives certain powers ank! ilcs.
the Persian Govern- duties to The B.B.C. has transferred due
"Imperial Delegale" ment's
to its Far. East rclays from
the
Finally,
a company. to Colombo
Singapore.
change in the company's name Senanayake, In a massage to
to remove certain
Now York, May 14. Mr Gordon-Walker, sold the
Foreign exchange: B.B.C. staff had been of great Perslan inhibitions.
Some of these points emerged | Britain
$2.80% service to Radio Ceylon-Reu-
In the statement made by Mr Canada ter,
Morrison 'The danger is that ; Belgium the Persians take Irretrievable France action in the heat of mo- Holland ment, Against this then in the Italy
Portugal cafegimed that their own pro-
Bweden gramme shows
that they can
Tras Switzerland only move step by step.
Argentina Brazil THE SHAREHOLDER Mexico. Finally, what is the outlook Venezuela for the shareholder, whether in Hongkong Anglo-Irandan
dinecurmah or through the medium of
holds cent of
might help Acquitted of
Murder
U.S. TREASURY
Tokyo, May 14. Indonesia was the biggest buyer of Japanese matches | during April, according to a sur- vey by the Japan Match Industry Association. The check-up dis- closed that Indonesia 'purchased 1,846 (match) tons last month, an increase of 41 tons over March. Afnica followed with 43
Syrian Defence Minister, · Ahmad Sha- tans.
Total April match exports rapati, and nine others out of Total debi: US$254,505,954,444,50 gives time for a calmer atmos-
A year ago US$263,801,438,00860i phere to develop. murder Goki Assets US$21,785,926,911.80
reached 20,470 tons. So for this year Indonesia hús bought 4,900 tons of Japanese mitches, --- United Press.
London Holiday
London, May 14. The Stock Exchange was closed today for the Whitsuntide holiday. ----Associated Press.
New York, May 14. Copper, lead and zinc futures closed quiet, no onies--Anto-, !-clated- Proza!-
Damascus, May 14.
A military court here today acquitted the former
the
Washington, May 14. Treasury position:
94,00
1,081
world market,
for example, the zine in ores and concentrates to
There were rumours that the per from present 3/4 Office of Price Stabilisation had Operations April averaged 103 The aluminium metal duty will recommended a subsidy system; per cent or a weekly output of be 11⁄2 cents a pound instead of with the U.S. rebout 3,050,000 net tons
Government two cents.
the new price of 271⁄2 Taking up
the Controlled
The Government ordered paying
ered cents a pound and Materials Plan that goes into nickel suppilers to limit
re-selling May the copper to users
ut the here effect on July 1. Sleek reported deliveries for military use to 00 that ib looks as though it will be per cent of the amount sought domestic celling of 242 cents. Meantime, demand for all the September,
for defence orders, and de- major metals remained intense, possibly Oktober before the new method of dis liveries for civilian tention can be made fully per cent of each Brm's average and domestic prices of all ex-
cept tin operative.
unchanged, The With so much steel being 1950.
Reconstruction Finance Cop- required for defence
poration, now solo Importer of purposes, Steel reported that some quarters
tin, trimmed its price three ccats a pound to $1.89. are advancing the possibility that cutbacks in some defence
METALS PRICES steel may be necessary.--Asso- elited Press.
New York Sugar Futures
New York, May 14. World sugar futures closed here today 4 higher to 2 lower, with sales totalling 50
tracte.
con-
Contract No. 0 closed'1 to & points lower, with males totalling 72 contracta,
Contract No. 4 (world)
28%
20.27
10
3.50
19.87
MAY
28.10
July
7.20
September
Spot
0.59 bid 4,50 traded 6.43 traded 0.00
$.50
Contract No. 4
'11,57
July
6.85 traded
30.03
September
Spol
17,60
Associated Press.
a total of 14 charged last year with attempting to Colonel
Abid
A year ago: US$24,249,337,997.95 Shlalekit, Chief- of-staff of
of the Syrian Army.
Associated Press. The
case of the men, said to hela belong to an "Arab Sulcida Phalange,"
ge" had been sent back to mutary court by, the
Copra Price Down Anglo-Iranian Celinary shares? Court of Appeal.
these dificulties are settled Exchange Rates The death sentence passed on
New York, May.14. satisfactorily, Angio - Insorlam Abbas Khamsan, an Iraq, was Copra was offered at $212.50 | abarca will prove vary moch commuted to ten
yente im per short ton, C.LF. the under-valued at : their possint | | "prisonment." · "The appeal of the Pacific Coast, down 35. from price of just over 5. (It not three others sentenced to death, Friday's, asking level, Coconut Anglo-Iranian will have water including an Egyptian, Huurin oll was offered at 10% cents a od a very serious amputation Tewillt, had been rejected by pound asked, F.O.8, mills, bue will mitsin. Sie karker feet, the Court of Appeal-Reutor. United Press.
malas -- organisation, and i
+
I
was done in the local
·Business unaffolai
market thin morning at the following rates pigeling notetberg (31) ins
des Futlere ihes "Indonesian natiklere 200).
Singapore (diraits)
•FIC/+ptartres (per-100)
5.90 traded 3.00
United PreKH.
Bank, Quotations
Now York, May 14, Bank quotations: Bank of America 271⁄2 bid, 20
asked Chase National 20% bid, 90% anked 444 bid, 40%
Associated Press.
| Nalionai CARMEN asked.
use to 15
month-use in' the first half of
Quiet Day In Textiles
.0
were
Major prices:
Copper 24.50 cents a pound Connecticut Volley,
forolgi
St. Louis;
foreign 29
Bame, nominal, New York, May 14,
cents, New York: Lead-17 The cotton textilo market 10.8, St Louis; foreign, 20-22 was quiet today as it awalted nominal, Gult ports, Insuance of the now price cell- Zinc-17.50 East ing regulation for cotton goods 18.25 New York; expected this week. According nominal, Gulf ports, to Washington
reports,
'Aluminium-19 Ingate; 18 separate pricing regulation will pigs. be worked out for cotton
Antimony-45,30 caced, lel vorters.
New York; bulk, 42.cents ca The wool goods market was lots, Laredo, Texas; 60 ents,
by further study of Cascade, Idaho, occupied, now celling regulation Issued Manganese..-- oro contracts lost wook. They take into 79.8-81.8 A longan unit, cif N.S. ports, duty account a more recent period nominal, for inclusion of increased cost for buyer's account; India ore,
CON
.7
In the price of goods. Mills $5-$10. were expected
armounce Ferromanganese $105 prices under the new formulas gross ton, akipping point. some time this work, with some Nickel 50.5 electrolytic advance in prices anticipated cathode, Port Colborne, Ontario, compared with the December US. duty included.
·level,
Rayon goods were steady but quiet,——Associated. Press.
Pepper Nominal
New York, May 14. Black pepper was quoted at $1.05
and white at ..., nominai $2.00 nominalUnited Press.
Qunco
Platinum $90. on wholesale; 593 reall.
··· Silver *** 30.10
contaNew York; 70.5 pence London.
Tine-$1,30 York.
a pound New Quicksilver 4818
$210-$217.0 flask, New York, at peak
Tungsten or domestic 100 n ton unit, celling price: Western scheelite $05: fob mine-Ag pociated PreALK"