MESSAGERIES
M
"BRIANCON"
ARRIVALS
MARITIMES
fromHaiphone SAILINGS
M
PASSENGER/FREIGHT SERVICE
*FELIX ROUSSEL" "LA MARSEILLAISE" “LA MARSEILLAISE”
"BRIANCON"
"BASTIA"
"AURAL"
to Maravilies
to Japali
to Marseilley
FREIGHT SERVICE
N. Africa &
1 May
2 June
11th Aug.
22nd Aug.
Europe 31st Alay
N. Africa & Europe 14th June
N. Africa & Europe 13th July fur
PORT SAID, TUNIS, MARSEILLIES, ALGIENS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.
CIE DES MESSAGERIES MARITIMES Queen's Building
MARI
Tel. 26651 (Three Lines)
MAERSK LINE
FAST FORTNIGHTLY SERVICE" TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vla
SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
ALS. "SALLY MAERSK
MS. "CORONA"
M.S. "ANNA MAERSK"
M.S. "ANNA MAERSK“
M.S. "GRETE MAERSK"
M.S. "OLGA MAERSK"
ARRIVALS FROM U.S.A.
THE CHINA MAIL, TUESDAY, MAY 22, 1951.
Change Reacts Serious Problem For
To Persia
London, May 21. Persia's insistence that I will selze British-owned
properties weighed www the landon Stock Exchange today. Trading was Halat and losses shor in muni scellons,
British Government bonda slumped as much as 4% of a point.
Flanelal Times' Index; 131.6-Assoclated Press. -
HONGKONG SHARE MARKET
(From Our Correspondent)
Hull Underwriters Mentioned At Meeting
SPEECH TO AVERAGE ADJUSTERS
(By D. KING-PAGE)
At the annual meeting of the Association of Average Adjusters, the address of Mr Frank Hogg, the retiring chairman, added one more to those interesting and erudite papers on technical subjects which are an outstånd-- ing feature of the association's meetings.
It presents the commentator with the problem of dealing with an important matter, necessarily treated at length, in a limited space. I pro- pose to follow my usual custom of dealing with it, serially as it were.
This, I think, is the only way in which an in- morning was valued at $331 highly technical treatises which
terested public can be informed on the intricate and 620.50. Noon prices and the
these chairmen's- morning's transactions:-
addresses to the association are and which otherwise would be available to only a limited circle.
on
The volume of bushiens done the Stock Exchunge this
SBANES BUYERS SELLERS SALES BANKS
I Dank.. East Asia.
INSURANCES
Union XD.. SUPPING
A la Nov.
DOCKS, ETC.
the 150 10 1316
101
716 לשון
NC PT., Wan 400
Provident
Whetnek
LAND, ETC.
IK L XA 3
UTILITIES
ANDA
M Horg reviewed world in cases of abandonment, the conditions as they have affected side note to the seallon reading shipping, and this led him to "Effect of Abandonment." consider a shipowner's problem which concerns average adjust
140
I
301%
ing
120 840 Jux 6.60
5000 32!
50022
2000 221
Tren ... 1123
May Fery03
3. Light 0) 355XD
...
Light XD lagh B 54 ND
700 value),
sound market value.
Elet
May 30
June 14 June 30
INDUSTRIALS
Linea
200 10.
0300
830
23
1.
12 141 010
12
Biceste
70.0
June 4
June 23
July 24
For Freights and Further Particulars please apply to:-
AGENTS:
JERSEN & CO.
Pedder Building
Tel. Nos. 26661-3,'
Food For All Is
-
Available Through Irrigation Control
The world's food shortage could be solved if all nations would co-operate in sharing their know- ledge of water resources development. Exchange of this knowledge on how to use available water to irrigate land so that it will produce more food is one of the most promising contributious_for_im_ proving economic stability in the world.
and parts of the United States. Dry areas where irrigation will help are in northern Africa, Asia Siner, China, Siberia, Australia, western Norli America, and South America.
There is enough water in the world, if used correctly, to dou- ble the world's food production, Dry areas can be made produc- tive by proper control of exisi- ing water resources, such as river basins, lakes, and rainfall. This is a broad programme Wet areas can be turned into Impossible to Corry out in #
govt
land by proper day or a year. Many problems version, and storage must be, smoothert out, such as drainage ing
political differences can control
if he
วรเถาเ
water.
Water is seans/olving
how. He has
where a river baslu for tween
at least 5,000 been using it as wher
years to help grow
his food, but with new technl- ques constantly
being developed,
lies bc-
nations. It will
131
Weakens
s
דנן
covering
Output of Civilian
expressed and night appear to deal with underwriters rights
Section 79 was not to clearly Goods In US
whatever may remain
abandorument Was
past
New York, May 21.
for
and at n re-
•
R.I.L.
ROYAL
INTEROCEAN
SINGAPORE, JAVA
PORTS and MACASSAR
"TJIBADAK" "VAN HEUTSZ"- "EASTWAY"
"TJITJALENGKA"
"TASMAN"
"TJIWANGI"
ན
ARRIVALS
23rd May 25th May
2nd June
.171b Jithe
For carro to Singapore only
MANILA, ́EAST &
SOUTH AFRICA and
SOUTH AMERICA
**TIKAMPEK” **TJIMENTENG" "RUYS"
JAPAN "EASTWAY" "TASMAN" "TJIKAMPEK" **THBADAK" "VAN HEUTSZ" "TJIMENTENG" "RUTS"
† via Manlis,
ARRIVALS
In Port
In Port 22nd May
ARRIVALS
20th May Early June
10th July
10th July
LINES
SAILINGS
27th hiny. 8th June Early June 22nd June
SAILINGS
12th July
18th July SAILINGS
22nd May
24th May
26th Mar
8th June
28th June
Agents: HOLLAND EAST ASIA LINE
EUROPE við MANILA
and MALAYA "ARENDSKERK”
not calling at Manlis, Through Ba/L, kanied 30 Mediterrabeon and Northern European Ports,
• JAPAN "ARENDSKERK"
ARRIVALS
In Port
19th
SAILINGS
June
ARRIVALS ........ 10th June
SAILINGS 24th May+
+ via Mantia.
Heavy World Demand For Subsidised Wheat Expected In America
Washington, May 21.
The Congressional debate on Indian aid has helped to make the world wheat-conscious with a prospect of wide ramifications on international commerce in this vital bread grain.
This was whether » vessel under both abandonment and Despite the extent nud im- thould be insured for her re- subrogation, but he referred to part accelerated defence 11 Placement value, her original the side note reading "Right of imroduction in Lie United raice Jess depreciation (bootc Subrogation," Except for the States, output of elvilion goods
words relating to the apportion- for domestic consumption or her present-19 Inble part in case of curgo, his export will continue
view was that the Marine In-latively high tevel in the There was, he said, always | surance Act did not alter the months ahead. 2000 the complicated matter of law proviously in force,
This was
predicted by balancing" charges, but the
Frank R. Garfield, adviser on He had said that Section 70 <conomic amount to be insured for these
research to the seemed to be fixed, although
was only meant to deal with Federal Reserve (Bank) Board, This appeared to have, bean rights under subrogation. He in a speech before the market
admitted that tered by the recent Budget.
rights under lug conference of the American abandonment were mentioned Management Association hero, TWO PROBLEMS
where reference was made to
Mr Garfield points out that the fact that an From an adjusting point of paying a total low, inkes over in the United States calls for a insurer, on the present defence programme view, two problems arose. In the interest of the assured in much more moderate increase Cotton Mkt.
Mkt. ease of general average the
of the prent-day sound value of a subject matter so paid for. He
JA the share of production vessel must be insured the thought this reference to rights World War II.
going to defence than in hipowner was to be fully hi on dentified by his underwriter, reiterating what was laid down says, "has been greater than bad only "The rise in output so far," he fu, the ease of particular aver-In Section 63 and New York, May 21.
that been age, with the heavy rise in the such The extton market weakened cost of repairs, it might well be form of explanation, and was at a rapid
reiteration was
expected, and plmex- 21 the pansion is now going forward today after a mixed start But that the anal
pace. figure exceeded
The total of rallied again toward the close, the sum
imes to
draw attention to and goods and services to be pre- insured unless although prices inished on the more nearly
This pelucidate the latter huif of duced downside for the scend session present-day repincement value,
represented the paragraph 1 of Section 79.
and distributed for de He fence and other purposes will suggested that his interpretation be reaching row. Technical replacement
new highs. The buying
Ioval
was supported by the fudgment At this point, Mr Hogg gave of Lord Justice Blairburn in the civilians will be high, although volume 10 be distributed 10 appeared to be the main support-dures of the volume of ton-House of Lards'
other buys nage under the dag of the Uni-Simpson v. Thompson (1877) and goods, and probably lug influence
decision of
certainly some types of held aloof due to the favourable
ted Kingdom compared with by Lord Justice Bret; in Castel- Korean war news.
over-all, The volume under the flags
nut The
of New York Cation Ex-
lain v. Preston (1883).
in the recent ot as high as other nations, and lie then went change Service Bureau com-
on to refer to current malters mented that unless there is
In the first case it was held "Even for passenger cars and affecting overage adjusters. Of that the right of insurers of a restrictions so far have been in marked improvement in dry the York-Antwerp Rules, 1980. lost ship to claim for damage terms, of the
other consumer durable goods, goods buying domestle courump-be salt that it tion of raw retion for the season for any litigation to have arisen, to shake the t
was too early against a wrongfcer was merely
use of speciated may 12: exezed. 10,500,000 bales but so far they appeared to be assured might have made as the of
same claim that the materials, rather
than output or 5,000,000 less than criginally working smoothly, and no ma- two ships belonged to the same World War II period are not in Aulshed products. Cuts comparable expected..
to those In the be difficulties of interpretation owner no right The waikes opened up-1 point had come to his notice, He said In the second case Lord Justice prope on July and off 4 to 7 points on
Department of Agriculture experts anticipate that the association had been Brett sald: I have mentioned
Other speakers maximun other positions. dipped called on to advise the Tech- the doctrine of notice of aan- of the relatively high output ports of subsidised wheat under the International at the con-heavy international pressure for United States ex- lnuses of 14 to 33 points, and closed off enly to
alcat and Clauses Committee of donment for the purpose 31 12 points.
the Institute of London Under- coming to
the doctrine of
civilian goods that is expected, Wheat Agreement. the
bf normal allem concerning a revision of orogation."
maintenance The Institute Iuli Clauses.
norkels throug
Subsidised shipments cannot, available for export from the advertising, be resitmed before August 1 bu: 1981 erup, Apparently, both_Lord_Blackt, selling, and pramolion-would burn and Lord Justice Brett continue to be a major tusk of June 10 to inform exporters of wheat production in this first the Department will" start about But estimates of United States hend was the Voyage Clause, thought it advisable to explain business. and the opportunity arose for bafore giving their view on the doctrine of abandonment the technical committees of
subrogation. This led Mr Hogg to the United States and of the Hrstitute of
suppose that the drafting of London Uniter
ter Section 79 (1) of the Act was, writers
to draw up a new to some extent, reluctant from clause for use in both markets these decisions. At this point.
referred in
to the forthcoming Mr Hogg stated briefly what he Naples conference of the Comite Maritime International considered to be the under-
Chicago, May 21. writer's rights, firstly, on pay- September This atment of a total less under generally lower despite a late Chicago grain fulures finished year, a which rest of Ships," "Limialandonment and condly. lation of Liability," and "Mari- payment of either a fatal or 5oybeans were unchanged to off ontally. Wheut closed off to 1%. time Mortgages
and Liens" partial loss under subrogation. 44. were to be discussed. For the last 30 years attempts, had EQUITABLE ARRANGEMENT Prices closed as follows been made to bring about in-
After distinguishing between Spot tornational uniformity of mari "Abandonment" and "Notice of July Miny me Jane on Ilmitation
Abandonment," inbility. With regard to arrest under abandonment the insurer
ho anid that September
December of ships there was a wide took over what remained of the Corn divergente of opinion ng to
Brot British the
May and Continental properly and all its proprietory
rights, including all liens to July systems,
There was no doubt which 42 that shipowners in this country
the property was subject September 4312-13
considered
(eg, crown' wilges). Abandon December 421-45
acceptance of the ment appilled only to insurance May Continental system too high a and the underwriter was en- 40-40% prier to be pai for internetitled in respect of the res to
tional uniformity and, therefore, recover more then he paid, 10 nehleve
Spol..
Oruler
July
46 (20
45.23
December
Morch (1952
WAK
May
33.71
October
October
BG.13 ←Ųrilled Prairi, NEW ORLEANS MARKET Closion dute May 21:— Spot ris
December
4-1.512
15.30
39.20
38.73
March (1032)
ZULA
Mary July
240.7%
38.27
October
250.14
United Press.
but it is not physically The Rubber
ible.
Experimenta iri reclamation of sen water
he can still make better use of and in the science of rainmaking his land and water resources. may some day also supplement
Several programmes are al-water
'ready in
supplies available in progress for sharing rivers and lakes. this knowledge, particularly free
among
under-developed
nutions One of these is spon- sored by the Food and Agricul- ture Organisation of the United Nations, The technical pro- ons in
of the United Nations gramme also exploring ways of helping under-developed nations put
their water resources to work.
Irrigation Project
Mexico City, May 21.
Markets
London, May 21. Prices of rubber futures closed here today as follows:- Number 1 rubber. In contr
per tu,
June
July/September
January March
October/December
The most dimoult clause
to
claim existed.
that because
the rules of subsidy, and the year, of the Defence Mobilisa- now rules and regulations. tion Programme were disap-
Conscquently, bookings
of pointingly small,-United Press.
Prices agrement wheat will be well
Grain
Decline
Wheat-prio per bushel
2.36-0/4-237 2.394- 2.43-$
itye
July
1.601% 1.926-12 1.71-172% 1.02%
27.0814-2.07 3.924
Dals
May
necessary compromise.
SUCCESS for both rities
it was
the
0216-3 New York Tinul-per 200 lb. #ack Subrogation, on
other $1.05.-Unlled Press: hand, was not limited to In- surance, 'and was an equitable
July
Speaking of the British Mori- arrangement common to all con- New York Sugar
Law
United Press, NY UNCHANGED
New York, May 21. The Point Four programme, sug-
The Governmer selling prices of pot rubber were unchanged, gested by U.S. President Harry A now irrigation project on
Dealers understood that the S. Truman, places heavy em- the Rio Grande, opening 750,-
buying price for No, I sheets phosis on the study of irrigation 000 acres at cotton land, is ex-
51. was at around
and 51 time
Association, Me tracts of indenmity. Whether and related projects in under pected to be ready next month.
to the "gentle the amount they had "paicī developed areas.
Adolfo Orive de Alba, Secret-cents for No. 2 sheets-United or referred
man's agreement,"
accepted related to a total or u partial Since low areas of the world 1y of the Federal Water De-Press.
first by British, SINGAPORE MÄRKET
and later by loss, the underwriters could partment, have natural conditions that are Anzaldis Canal will be opened the 38-mile Baitt
Singapore, May 21.
muny eller interests, by which cover from the assured, or from ideal for agriculture, man has a year ahead of schedule.
- Prices of rubber Futures had to devise methods to make
closed here today as toilowa case of liability at is estimated It would in- Number 1 rubber, per tbs. his land produce, Evidence of
to £200 per package or unit millon bale
1471-148 of cargo, and the Gold Clause the success of ancient irrigation crease Mexicp's
7841-14416 DI methods can still be found in cotton crop by 400,00 bales.
legislation based on The 1425-14315 The canal will carry Mexico's Egypt, Persin,
lague Rules way waived. share of Itlo Grande flood
14412-14515 of the world has water south of Reynosa to land
Lacks
141-1421 rainfall.-
and China.
PROVIDING A Food for
tho
people problem. Today, which
always
with the world's population In- croosing at a surprising mte, food requirements have multi- piled.
HUGE DESERT ÁREA Already the irrigation of lands is helping moet this rapidly ex panding need for more
food.
how
Associated Press.
LONDON TIN MARKET
London, May 21.
The tin market opened steady
But there are suil about 1,000,- 000,000 acres (400,000,000 hee-
of farm land in humid today, Turnover was 40 tons, tores) of areas, and 200,000,000 acres helding 15 tonts for cash, (80,000,000 hectars) of desert Prices closed at the end of and throughout the world that the offelal morning session an need to up developed.
follows: #fumid areas where irriga-Boot th. buyers
Frottin, wélices.
tióis
should supplement senininess deste hi Fonal rainfal are in central hureemenis. tin, huwe › South America, eastern Anit," Three-months tih, sellers
Bettioment
Indio, Central” and ́
Busine done at southerni Africa, Mexico Central Americo,
May June
July Number 2 rubberi
May Number
May Numbet May
Spot rubber, unboled .. Black crepe No. 1 pale crepe
Exchange
from £100
Futures
New York, May 21.
₫ 40 10
under way before the permissible date of shipments.
The previous "agreement year" was marked by abundant sup- plics and modernle demand in carly months but after December heavy demand developed and the guaranteed quantity of U.S. shipments was filled by March
20.
Since then U.S. wheat experts have been at the market price.
It is expected that many wheat-consuming countries soon will bid for increased quantities of U.S. subsidised exports and that the supply and situation will be tight for some months.
Liners May Be Converted To Transports
San Francisco, May 21. Vice-Chairman
Albert W. Gator of the Federal Maritime Board said today the idle Mat- son liners Mariposa and Mon- torey are being surveyed for demand possible vou as Navy transports.
The Navy Gatov suit.
doinitely
to ships," The two
U.S. BELIEF U.S. wheat trulers believe Matson's
Wants
ainter ships of
that India will seek US, cube | the m00 are tied up at
THO
Adininistration
convenios
com-
sidised whent under the Inter- hipyard in
1 nearby Alameda, national Wheat Agreement to Maizon stopped supplement other whent that work on them in 1947, may be provided under the plaining it was unable to bebr emergency aid programine. the mounting cost of the work.
United States
Associated Press.
India under the agreement i
exports
+yearli
Just "acement
amounted to 21,754,000 bushele, WORLD BUYING
Ute
Under
at the
the International Wheat
Agreement, Wheat-fr porting countries-41 last reportar | Mi
hipowners accepted 011 - third party in his name, any hero today
World sugar futures closed right to immo guaranteed the o certain quola from the overall export amount points surns which diminished or exhigher, with sales totalling 180 under the agreement tinguished their payment, but they could not recover more.
Ilowever, no exporting coun- than they had paid.
try is obliged to supply any
considered that if an underwriter tracts. seillod a total loss he could be
contravis.
Contract No. changed
closed un-
to 4 points higher, | particular country from Ita
UK MACHINES
Geneva, May 21, British engineering
exports are winning ground from the the United States In overy foreign market. The statement is made today in a report of
for Europe.
In further explanation, he with sales totalling 388 con supply of exportable wheat. Commission
the United Nations Economic
Contract No. (world) September
ry (1832)
0.75 bid
0.70 -0.80 troded 0.16 nominal $40 notiuni
0.13
Abandonment and Subrogation." see Hone opposite zeptember |
Business was dono ire the toont of claims have in cases of (0) | un they are titled May
RIGHTS. OF INSURERS This brought him to the sub-in the position of acquiring two 137 -130 1835-18313ject of his addrez "Rights of acts of rights,
the rights 110 -117
Payment Under under a valld abandonment Insurers on JBT-197 -United Press,
rights under su Juar
Bub- Ever since the Marine In
anid he
Spot
Contract No. G 1906, there Rates been contrary views as to what
murance Act
hall belloved some
me hold
July what view that if
a vessel is sunke rights underwriters on payment In
and abandoned to Morel
January. (1032)
ekenango market 1nbandonment. morning at the following rates or gallon Stine considered that perty and all its
rent, and (b) subro 10
Dver not only the 10.07 83175 with the advent of the Act the rights, but also all rights which 3.00 low was altered, and on pay the Dasured might, have against 1TS Inent of
of a total lots Ins
In the coat third parties, even if these 1335 of mubrogation
underwriters were cuttled to recover
Bidy aditled: The
Women
Sterling hole, (per £1)
UB. dollars (per 10
zadonesta edildern (per 100)
Siam ticals (per, 303)
Singapore (Stratta) 100
Fic plastres (per 100)
T
1,140 0143 3.110
Now York, May 21.
monto/corded the "sum
Beptember
Anot
0.072 traded
5.I traded 1.3% bld
5.50 siominal
0.50 nominal
9.50 nominaj
4.51 nominai
0.00
United Prem,
Bilateral transactions therefore developed according to the de-
1032-63
It predicts that be hit in pro-
slee of exporting countries to duction
supply
regular
customers all Ernet
can countries, although
general conditions of supply shortages of raw materials may and damant and
make it Impossible to set higher
International &argaining, re of targets than those for 1048.
700
If an importing country is
In South America, Britain
has become the leading Euro. of engineering
hot able to obtain wheat in the pean supplier kuaranteed quota amount it can
bppeal to the International
Wheat
products.
Council In London to Douglas Steamship arrange shipments dom ons or Co. Dividend
Argentina is not a participant Japanese Bonds
pold by underwriters to the assured.
point, Mr. Hogg gave daphneso Sellets again offerta cópen at bf the Act dealint willi'the'elib="" brief detalls of the enses tènting | Bolas $800 per short ton, but there Jeot were Nos. 48: and 79, which with insurers rights and linbill- were no takers. Coconut oil Mr Hogg quoted as length 1e les bith under abandonment 1.110. was offered at 15% centra rid Suction “-03, clourly dealt and subrogation, prior to the
poundUnited Press.
with the rights of underwritsiz | Marine Insurance Act, 1000. | Conair
led Press
London, May 21.
another exporting country.
The Consulting Committee of in
the International Wheat the Douglas Bleamship Co.. Agreement and reported Ltd., announce that they will already to have committed most recommend to the shareholders of her wheat available for ex- at the forthcoming Annial portation this
General Meeting a dividend In year It sa still too early in the crop respect of the your endod Chea season to determine the United cember 31, 1050, of $3 per aházu States and the Canadian wheat fred of tax.