THE CHINA MAIL, FRIDAY, MAY 18, 1951.
MESSAGERIES Y MARITIMES Heavy Bidding PORT CONDITIONS Switch To
M
"LA MARSEILLAISE"
ARRIVALS
from Japan SAILINGS
M
PASSENGER/FREIGHT SERVICE
"LA MARSEILLAISE" "FELIX ROUSSEL"
"BRIANCON" "BASTIA"
"AURAT"
18th May
to Marseilles via Manila 19th May to Marseliles ....... 23rd June
FREIGHT BERVICE
N. Africa & Europe 24th May .N. Africa & Europe 15jh June .N. Africa & Europe 13th July for
FORT SAID, TUNIS, MARSEILIES, 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, via
SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "SALLY MAERSK"
M.S.
"CORONA"
M.S. "ANNA MAERSK”
ARRIVALS FROM U.S.A.
M.S. "ANNA MAERSK”
M.S. "GRETE MAERSK"
M.S. "OLGA MAERSK”
May 30
June 14
June 20
June 4
June 23
July 24
For Freights and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
For Wool
Sydney, May 17
The Sydney Wool sales keries closed today under strong and sustained com. petition from Great Bri- talu, the Continent and Australian mila Atso- clated Press,
Page
IN AUSTRALIA Buying Of RIL
CRITICISED IN US
Cotton
New York, May 17. Cotton traders switched back to the buying side. Overall ne- tivity remained on the slow
London, May 17. "Comments on the uppalling delays expericaced but there was a definite tumabout in market sentiment, three This was attributed to main influences-the recovery shipper covering against the expected new export licences and hopes of an early resumption of activity in the
by British ships in the ports of Australia and New VOLUNTARY Zealand have been made in this column on many
-occasions during the past few years, say the Liver-in securities,
RESTRAINTS pool Journal of Commerce.
cotton goods markets,
Techniclam also kept close watch on the development in
delivery. The theory is
Bro import upon shorts who
ON CREEDITS |affected, it is interesting to observe that American Jung ground that if penalties
chological
effect
Though it has been pointed out that our ships trading to the Antipodes are, not the only ones manufacturers, shippers and shipowners are as Washington, May 17.
greatly perturbed as our own on account of the defaulted on deliveries against The United States Gov-steady deterioration of port and cargo-handling it would have a
called upon facilities. crament has the Nation's money lending institutions to help fight inflation by voluntarily refusing to make loans not required for financing the defence programme or the legitimate needs of agri- culturo, commerce, and industry.
of
The voluntary credit Tu straints programme is sponsored or the US. Federal Reserve (Bank) Board. It was worked out with the en-operation the American Bankers Associo- 11011, the Life Insurance As- sociation of America, and the Investment Bankers Asscelation of America.
For instance, a spokes-; man for three shipping lines New with
from services
-York to Australia stated recently that conditions were getting so bad that "n ronl crisis in the trade im- pends."
Representatives of the United
Lines
1
Statek
and the Ameri- can and Australian Line, point- ing out that turn-round along the Australian const averaged 30 days before the war, remarked that it now takes "from 70 to 90 days from the time we reach Sydney, unload, and go on to
make our calls at other ports and leave for Sydney again for the United States."
As an example of. the resultant losses, congestion and dislocation of services, 15 ships out of an American com-
The Beard in appointing No- and regional volunteer ¡Upon reques these committees will advise lending institutions on the pro- How- priety of specific loans. ever, no lender will be requiredy's total fleet of 19 were al
to consult these committees
05
to fallow their advice.
The Voluntary
programe compulsory WHI supplement selective controls on ecnsumer credit which the Board Imposed in September-October. 1950.
In a "statement of principles" lenders, the to guide money Board says that the criterion of "sound lending" in the present period is this: "Does the louri
Increase commensurately maintain production, processing. distribution of essential
and Tel. Nos, 26661-3.
M.V. "LA MARSEILLAISE"
will sail for
MARSEILLES
Via
Manila, Saigon, Singapore, Colombo, Djibouti and Port Said.`
on
Saturday the 19th May 1951 at Midnight
Passengers are requested to board the vessel with their cabin baggage on Saturday the 19th of May between 5 PM and 7 PM.
Baggage Room and Hold Baggage will be registered ut Kowloon Godown No. 50 (No. 2 Gate Canton Road, Entrance) on Friday the 18th of May between 2 PM and 4 PM and Saturday the 19th between 9 AM and NOON Imperatively.
No baggage will be accepted for registration after this time.
CIE DES MESSAGERIES MARITIMES Tel: 26651 (3 lines). Queen's Bldg.
Motor Show
Opens
In Frankfurt: First Since War.
Frankfurt, May 17.
Germany's first post-war motor show opened today in a vast hall that was not here before Christmas. Yesterday workmen were still finish.
ing it.
On that, Ierr
No furious fanfare of trumpets saluted its opening, as in Berlin before the war.
Instead, the city's Philhar- | monic Orchestra played the over- not seem so sure. ture to Wagner's Mastersingers, be kept down, he says.
There were no German uni-
President
Heuss, made a simple speech.
Vorwig does Prices must
There is a need for a modern
or
Under that interpretadon, the statement says, the following types of leans would be pro per":
one time immobilised in various Australian ports awaiting cargo handling.
HONGKONG SHARE MARKET
Business
o the Stock Ex-
change this morning was valued at only $117,195. Noon prices and the morning'n trans- actions:-
BHARES BUYERS SELLERS SALES BANKS
$00 m 1330
HK Bank
INS JRANCES
Union XD.. Underwriters 325 SHIPPING
Asin Nav.. DOCKS, ETC.
K. Wharf
N. P. Wharf 4.90 Provident
dent
HK Hotel UTILITIES
Tram
C. Light" (0)
XD
718
74
10%
2005.30
11.05 11.70
4.20
300 5.75
C. Light (N)
Electric
600 a 345 224 229 2000 or 22.20
Telephone
aly
1015
11.75
The principal factors leading to this serious situation are that there is a criticni shortage of labour, and waterside workers' unlons refuse to increase mem-
XD has
been
INDUSTRIALS bership; there
a
Cervent heavy increase in port traffic STORES, ETC. due to the expansion of the Dairy volume of Australian Importą and only the same number of berths available; and restrictive labour regulations. frustrate normal eargo handing.
as before the war are THE
THE UNIONS
shortage of
berths could
Juno
100 23.50
RUBBER MARKETS
July September October/December Jorgipry/March
出
4235-3/4
414-4
41-4134
39-40%
London, May 17. To some extent at least, the Prices of rubber futures 1. Loans for defence pro-
be closed here today as follows:- duction, dircet or indirect, in- overcome by a change In the Number : rubber, in cents cluding fuel, power, and trans-attitude of dock workers and per ib. portation.
their unions, though it should 2. Loans for the production, be borne in mind that many processing, and orderly distrof the berthing facilities are bution of agricultural and other nearly 50 years old, and a ship
docking staple products, including ex-
with, say, 4,000 tons port and import as well as domestic, und of goods and services supolving the essential day-to-day needs of the country.
INFLATIONARY -
3. Loans to augment work- ing capital where higher wages and prices of materials make such-laans necessary_to_sustain. essential production, processing. or distribution services.
4. Loans to security dealers in the normal conduel of their business, or in connection with the flotation and distribution of securities for legitimate pur- poses.
The Board points out that any increase in lending at a more rapid rate than production can be increased exerts an inflation- ary influence.
Under present conditions of very high employment of la- bour, materials, and cquip- ment,'
"the extension il sayo, of louns 'to finance increased output will have an initial in- Nationary effect; but leans which ultimately result in д commensurate increase in pro- duction of an essential nature are not inflationary in the long run, whatever their temporary effect may be,
41t is most important, how- ever,
loons that
for полю essential-purposes be curtailed. In order to release scene of the Nation's resources for expansion in more vital areas of produc- tion."
Grain Prices.
Register Big Advance
after discharging
***United Prost, SINGAPORE MARKET
Singapore, May 17. Prices of rubber futures closed here today as follows:- Number. 1..rubber per lb.
May
June
July
of cargo cannot discharge any faster than cargo can be moved from the quayside.
Frequently, about 1,000 tons of cargo, the hatches must be covered for a
days until the quay has Number 2 rubber, May Number 3 rubber. May been cleared of eargo.
Number 4 rubber, May Generally
however, Spot rubber, unboled speaking, the solution to part troubles back crepe rests with longshoremen
No. 1 pale_CTEDE....
fcw
Many will not work overtime and it has. been known for Sorry
drivers to refuse to take
The
market and might caro July shorts into covering When May de livery went off the board on there were 5,500 bales
And open. The question
of a settlement at present was up before Exchange officials. Crop news remained very much on the favourable side.
The market opened up 1 to 2 points, then seesawed in the forenoo within д Narrow rango and closed near the highs and up 12 to 15 points net Prices closed as follows:- Spot
July
40.00
45.20
October
30.32
December
79,00
March (1992)
28.05
MAY July
38.83
October
34,41 nominal 36.23 but
-United ProSA,
Cipsing rale
May. 17.
41.9%
45.30
58.40
A...19
38.93 bld
38.84
NEW ORLEANS MARKET
Spot
July
October
December March(1952)
May July
October
30.42 b
36.30 blu
United Pynsa
Advance On
Wall St.
New York, May 17.
The grip of the week-long decline on the stock market was broken when industrial shares Ecored the best rise in a month. The volume at 1,370,000 shares failed to carry through on the rise. Galns ranged from $1 to $3
share,
·
"ROYAL-INTEROCEAN-LINES-
SINGAPORE JAVA PORT, and ~MACASSAR--
"TJIWANGI" "TJIBADAK" “VAN HEUTSZ”
"TJITJALENGKA” "TABMAN"
MANILA, EAST & SOUTH AFRICA and
SOUTH AMERICA
រ
*TEGELBERG”
"TJIKAMPEK"
“TJIMENTENG”
"RUYS"
JAPAN "TASMAN" **TJIKAMPEK" "TJIBADAK“. "VAN HEUTSZ" "TJIMENTENG" "RUYS"
† via Manila.
· ARRIVALS-
In Port
.23rd May .24th May
1st June
"
ARRIVALS
-In Port .In Port
. 19th May
22nd May ARRIVALS
-Early June
- 18th July
SAILINGS
18th May
GIN June Early June
SAILINGS
18th May
13th July
18th July SAILINGS
20th Mayt
24th May
28th May
8th June
16th July
28th June
Agents: HOLLAND EAST ASIA LIÑE
EUROPE via MANILA
and MALAYA
"LANGLEESCOT" "ARENDSKERK"
• not calling at Manila, Through Bs/L issued 10 Mediterranean and Northern European Toris,
JAPAN "LANGLEESCOT" "ARENDSKERK"
+ via Manila,
ARRIVALS
20th May
ARRIVALS
19th May ..100 June
SAILINGS
.20th May" 12th June-
SAILINGS
20th Mast
ENINGSSBUILDING LEEFRONES:200sm:
Major Oil
Discoveries FLY
In Sumatra
San Francisco, May 17. Standard 011 Company of Five consecutive declines had cut moro than $9 from the California will report to stock- industrial average before the list holders that oll discoveries re- steadied on Wednesday. On garded as of major importance Thursday, industrials rose $2.43 are being vigorously developed to 254.57, the best rise for this in Central Sumatra by Standard 13. Rails and Texas Company through group since
April
owned affiliate, made their best showing since their jointly
Caltex Pacife Petroleum, May 3. Utilities, generally a narrow moving group, jumped
Reserves of $500,000,000 of oil 20 cents, the best improvement
are indicated by reports of dis- At the close. since March 10. the general average stood at coveries on the 2,500,000 acres in which Standard and Texas cach $92.85, up 81 cents,
holds a 50 per cent interest. Wall street called the showing
to reaction
the a technical
The report, to be made in the
bulletin quarterly
40 157-164 week-long decline. The sharp June
issues at Standard stockholder, will 112-114 Inroads made many 181-107
tradtive to investors and these say that this is the biggest oll Of 1,113 and in issues rose sharply.
the Indies. Issues traded, 680 advanced, 10 separate fields have been deve
were un-loped so far and a wildcat well
is being drilled in a fourth, 254.68
Callex is building a 81.77 pipeline from the field to the 42.56 Siak River. 197.65
147-143
141.143
143-143
144-143
141-143
United Press. NEW YORK PRICE
Now York, May 17, Government selling load of cargo after 3 p.m. In price for upot rubber was un- case It will keep them at work changed. after 5 p.m.; if the sky clouds | stood-the over, dockers will "knock off" Number
But dealers under- buying price for
and 228 deplined changed.
Dow Jones averages--- 30 Industrials 20 rails
1 sheets for early and go home In case it rains | arrival was around 51% cents 15 utilities
40 bonds and number 2 sheets nt. 61 cents a pound.-United Press.
and they get wet.
LONDON TIN Export
MARKET
On
United Press.
Oll will
Three
12-inch
be taken down the River in shallow draft tankers where it will be
Control transferred to reagoing ankors. Hides
FANTASTIC BUT TRUE
Additionally, there are fre- quent disputes over payment of various kinds of extras→→ "stooping pay” if longshoremen have to bend over to handle
Washington, May 17. cargo, "dirt pay” if they might
The Commerce Department gel dirty, and "temptation pay"
cattle hide parts London, May 17. today placed if they are called upon to
The in market was steady at under export control because of handle cargo which is of a no- the morning session. Turnover a shortage of supply in this ture thut would encourage was only 45 tons, including 5 country. pilfering.
tons for cash,
also
1,145
The The
Department
ди
This seems fantastic, but un-
Prices closed at the end of nounced the setting of a second fortunately it is true, and it the offcial moming dession as quarter export quola of 15,000 serves to show how Indisclp-follows:- lined and unreasonable dock Spot tin, buyers .... workers "down under" have Spot tin, sellers ........................ 1,150
·becanie,
Business done.at.......__1,150 Three-months un, buyers 1,120, Three-months tin, welers, 1135 Business done at
1123-1.115 Sottirment
1,150 -United Preus.
Weekly Bank
Statements,
London, May, 17.
The Bank of England state ment for the week ending May 16 reads as follows:
Notes in circulation . £1,334,584,000 Public deposi
Private deposits Government securities
Other securities
Recepta
Bank ratio
DE BANK OF FRANGE
'Chicago, May 17. forms only dark suits. Dr steel-rolling mill to supplant Wheat led the rally in the last of the Federal costly old-fashioned ones, but hour which carried grain futures the Germans cannot get per-sharply above- the day's lows One man, 47-year-old Wilhelm mission to erect it.
and many above the previous Vorwig, watched the ceremony
closed to i Then there are the current close. Wheat with relief.
work! shortages-sulphur and cent higher, while, soybeans April 10 reads an follows:
He organised the pre-war Berlin shows, and, as director of the West German Motor Makers Society, worked day and night new exhibition to bring this into being
LEATHER AND CHROMIUM
Ersatz has gone. Leather of
top quality ekoth, is back except
the rest-caused by rearmament, were unchanged to 1% higher.
→YLondon Express Service)
Prices closed as follows: Wheat-prico-per brushet.
Jap Trade Fair At Seattle
Spot May July September
December
fora Spot May July September December
1.30
2.411
ZA677-1.47
1.70
1.TG-
of
May
July
·Daly
July
May
Now, York
Washington, May 17. 3 in. the cheapest models. A Schute committee today #old. (Rodine-approved a bill which would Chromium is
Dortit duty-free" Empert ment are pleating.
The Important: quaqtion, there-affelen.'nde mohibit. At the fore, la: Will the, Kimmeyear Japanese Trado fair to be Held soon compete heavily against my Heditty Karting on June 17, Erlish car The Hotizo has passed the bill, or even oust-the abroad?
United Pre
70,584,000
Paris, May, 17. The Bank of France atato- ment for the week ending
Spice Market Inactive
whole cattle hides. Licences to ship parte such as bellies, shoul- ders, batts and splits will be rated against that quota- Associated Press,
New York Sugar
4.
Futures
New York, May 17. World sugar futures closed today unchanged to 5 points higher, with males totalling 89 contracts.
Contract No. & closed here today 1 to 8 points higher, with rades totalling 331 contracts.
Prkes closed as follows:--
Contract No. 4 (world)
4.60 Contract No..
September
Caltex expects to spend about $20,000,000 this year in deve lopment work in Sumatra-As- sociated Press.
Seeds And Oils
New York, May 17. Prices in the seeds and oila market here closed today un changed with the following ex- ceptions:
Castor Seed, per long ton, F.O.B. Brazilian Port 2.50 nominal-United Press,
NOTICE TO CONSIGNEES
Umslgnees per
-“DENVENUE”*
are hereby polled that their cargo is being discharged into the Hong- kong & Kowloon Whert & Goldown as godown, where it will be at
rink and subject to Consignees the What's terms and condition of storage, and where delivery may bo oblained,
Damaged packages are to be left In the Godowns for examination By - Consignées__and the Cordbanky's surg
VeYOTE. Messa 5.91 bid
and Carmichael 11.09
Clarke, at 10 am, 17th May, 1951.
Upised Vran.
New York, May 17. -23,260,000 All divisions of the spice 321,064,000 market remained inactive with 30-20.000 rode attendance cut down to 15,248,000 mimimum because of the Con- averstion. Black pepper dealers
Spok Unlied Press. indicated on a nominal bads at
$1.63–1.05 a pound oft an ex- į July dock basis.
Afloats due to arrive shortly Spice were
reported at around $1.63 a
was Some interest pound. apparane at $1.03 a pound on Total gold holdings
Tre
191,446,078, an ex-dock basis for May, June
Kaonadora, Mlacy 17, Toini of mi
Cura
Offerings and July shipownl tentiza
3,332,113409 } mad Sight balance.
"X" [à of: 1800) abroad
173.918,038,005 from Bombay were reported at Japanese, bonde
40% Advance to currency.
85 $1.07 a pound, F.I.B, New York, stabilisation fund. 143,300,000,000 | Cost
freight and
offerings "C" (le, ot,1907). Bill discounted in
1.708.203.004 ranged: between $1.03-1.64 Notes in circulation 3.901.309 527.n. pound-United Press.
--France and abroad
Current accounts
deposits
Bank Quotat
Bank; of Am crasé National 200 16. Back Natk
Exchange Rates
Japanese
Д
Conada
Wundenas"pra" done in the „Kocak
zimekat «unoficial, exotuare morning ad što following rater:
---Asociated Pres.
Ringsborn (Birgia) Fic plastres (per 100)
To Monded
comply with the › Generi Warehouse Tugulator.
Bonds Consede must have Reveale
Oficer in attendance when damMONDAY), dullable goods are examined........
No olara Wil be admitted aper the gooda havo left the stoRENCY'S godowns, and all goods remaining 30% undelivered after the 18th Play, 1951,
will be subject to rent.,
Preps.
Copra Price Down
*
All claims against the steamer must be premonited to the under- signed on or before the 1st June, 1931, or they will not be recognisedi No Fire Furserco'will be efféčkódů
-W; B.-LOKLAY-@-CO}
(CHINA),LTD.
New York, May 17, Sellers offerui, popra, at $205. per apbra ton, CJF, the Pacific:): Coset off so from Wednesdays Coconut oll who quoted at 1676 167 cents a pound minal, FO.B. mills-United Prem.
· Den Line Blokmark, Lid
cong, 14th May, 1931..
WATAN
P
HONGKONG
A
S
SINGAPORE
2 FLIGHTS Weekly
NORTH & SOUTH
PACIFIC OVERSEAS. AIRLINES (8lain):LTD." ASIARES