THE CHINA MAIL, MONDAY, MAY 21, ̄ · 1951. ·
MESSAGERIES
·MARITIMES ||Burma Cotton
M
BRIANCON"
ARRIVALS
from Haiphong SAILINGS
M
PASSENGER/FREIGHT SERVICE
"FELIX ROUSSEL”
LA MARSEILLAISE" "LA MARSEILLAISE”
"BRIANCON"
"BASTIA
"AURAY"
to Marseilles
to Japan
to Marseller
FREIGHT SERVICE
24th May
23rd June
11th Aug.
2211 Aug.
N. Africa & Europe 24th May .N. Africa & Europe 15th June ,,N. Africa & Europe 13th July for
PORT SAID, TUNIS, MARSEILLIES, ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & RÖTTERDAM.
CIE DES MESSAGERIES MARITIMES Queen's Building
Tel. 26651 (Three Lines)
MAERSK LINE
FAST FORTNIGHTŁY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHJA, via
SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S. "SALLY MAERSK"
ARRIVALS FROM U.S.A.
M.S.
"CORONA"
M.S. "ANNA MAERSK
M.S. "ANNA MAERSK"
ALS. "GRETE MAERSK"
M.S. "OLGA MAERSK”
For Reds?
Rangoon, May 30,
The newspaper New
Times of Burma sald today that Burma is likely to re- sume export of cotton to Communist China shortly, The Government bam
bamed auch sales five months ago.
The New Times said the action would be taken us the remḥt of an appeal by
who sald cotton growers prices had fallen seriously since imposition of the ban.
There
Indication was no how much cotton is In- volved.---Associated, Press..
CIVILIAN
SUPPLIES
TO BE CUT
Washington, May 20. The Government today told elvillon industry leaders thak their supply of three strate- He metals will be cut average of 30 to 50 per cent below pré-Korean war levels.
on
Emphasis On British Export Production Shifted To Textiles
ONE EFFECT OF REARMAMENT
(FROM OUR OWN CORRESPONDENT)
London, May 20. · The rearmament programme has shifted the emphasis on export production away from the metal-using group of industries which supplied more than half of all last year's exports to the textile industries.
The drop in the value of our exports because of the need to retain mean that more of the engineering industries' products at home will exports of consumer goods all have to be increased this year by about £350 million. To what extent can the textile industries be expected to fill this export "gap"?
This week The Economist” conducts a long and searching inquiry into the prospects for Increasing our textile exports and concludes that these can be counted on to contribute more than an additional £60 million-or between one-third and two-fifths of what is necessary to fill the "gap" in our exports.
when Even this comparatively from Britain at a time
Industries But at the same time No- imal Production Administrator small increase might not their national wool
are partially unemployed, "The Manly Fleischmanıza Essuredbe achieved unless steps Economial" catimetes the pay. representatives of 57 major civi
ure taken to check the flow sible Increase in wool exports han goods balustries their pro-
the at about £10 million at most. duction would not be allowed of textile goods to to Leroine "really of this home market. the talisation programme,
He said Mubilisation chlef Charles Wilson is firmly 'du- termind that the civilian economy will go along at a re- durect latt ample and sub-
May 20 June 14
staro' ' rule,
June 30
3
that tarer
June 4
June 23
July 24
For Freights and Further Particulars please apply to:--
AGENTS:
JEBSEN & CO.
Pedder Building
Tel. Nos. 26661-3.
American Output Of Goods Goes To Record Heights
Washington, May 20.
America's output of goods and services boomed to an unprecedented $313.9 billion a year rate in the first three months of this year, up $42,000,000,000 since the Korean fighting begun..
The Commerce Department, reporting this tonight, declared that the fundamental driving force that pushed the gross national production to new record heights was the Government defence programme,
the
Under the impetus, the nation's ($279.8 billion grass national output specdied to an annual production of 1950 amounted to rate $14,000,000,000 higher in only $133,000,000,000 by the Best quarter of 1961 than yardstick of dollars of 1930 In the preceding quarter, a purchasing power.) pick-up of roughly five per cent In an impressively short time.
Analysis of the Department's supporting
however, Agures, showed there
some catches:
were
1. Some of the gain was more apparent than real. Price inflation has caused dollur totals to rise more rapkily than physical output.
NY Cotton
Futures Review
2. The Indirect effect of the defence programme in stimulat- ing a consumer buying rush in early 1951 was greater than the direct effect of the $14,000,000,- 000 increase in output from fourth
1050
first quarter quarter 1951.
to
Nine billion was absorbed by consumers, only $5,000,000,000 by defence.
The
TREND SHIFTS
trend has shifted in second quarter 1951, now just beyond its mid-point,
The price rise has slowed. down considerably, consumer buying has fallen off sharply, and the defence programme is gathering speed, bringing orders for cutbacks in non-defence out- put to save materials and labour for defence.
Defence purchases for first The independent firmness in quat 1981 were
New York, May 20
ch
Beischinann
rastammer
disclosed
in
gods manufac- could expect an average 40 per meat cut in steel up- plus, a 40 pes rent'eut in copper andi 30
eut per cent alum.mum.
There new curtailments for makers of such Items 33 14- frigerators, automobiles, radios and washing machines would apply during the July-Septem- ber quarterly period.
Actual orders
making cuts are expected soon, to take effect on July 1. The reductions will apply to different indus- tries in varying percentages.
At present, certain goods makers are cut 20 per cent for steel, 30 per cent for copper and
per cent for aluminium,
35
the
Π
Raw material shortages play part in our an important prospects for Increasing texille exports this year. Already The rayon industry is faced with 10 per cent cut in its produc- tion because of the shortage of sulphurle acid and this will have an adverse effect on the production of the cotton wool industries.
of
HONGKONG
SHARE MARKET
on
The volume of business Cotton exports, on the other the Stock Exchange this morn
Increase by hand, may
£50ing amounted to $137,307.50. million. There are several fac-Noon prices and the morning's tors favouring such an crease.
of
goods.
transactions:-
1340
RUARES BUYERS SELLERS SALES High wool prices are begin- BANKS ning to result in increased con- Inc Bank..
.cotton sumption There is, moreover, less like-SURANCES
from hood of competition
Union ..... Japon, which
re- year and Japle Britain as the world's DOCKS, ETC.
placed largest cotton exporter, be- cause that country will prob
American rbly be busy with
last
for
•