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Date
-
In Pori In Port
In Pott
June Jur
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wwwwwwwwy
TJIMENTEND"
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-2nd
31:01 16th
July
"RUYS"
From
9. Ameris, S. Africa & Singapore.
N. America, S. Africa, Singapore &
Astron.
Japan.
Macassar. Java Poris,
Macamat, Java Porta & Singapore. Japan,
SAILINGS
**FAKMAN“
TJITJALENGKA" *FTIMENTENⱭ"
2011 May _fit_June
4th June 22nd June 2 June
THIWANGI"
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18th July
To
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Singapore. Java Ports & Macassar. Japats.
Manils, Singapore, S. Africa & S. Amerleg
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Farly Juke ith ar
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1 arty July
“ARENDSKERK“ "BIELDRICHT"
BAILINGS
Wild June
12th Jutr Party any
"KIELAKECHT" "ABENDSKERK”
"KÆLARECHT“
From
Europe & Aingapore. Тарат Japan.
+
ΤΟ
Japan via tani Manila, Singapore & Europe, Europe. Stania, Singapore &
3 BEZKINGSÉRÜN,DING TELEPHONESZOMSTOLMES E
S. A. C.
THE CHINA MAIL, WEDNESDAY, MAY 30, 1951.
Better Tone Little Chance Of
In London
London, May 29. There were few Im- provemente in the London Stock Exchange today al- though hopes of a compro- mlse in the Iranian oli alisation helped the under
tobe.
Glit-edged itsuen Jost their initial gains . And drifted lower by closing but there was a firm tone to oils and sølented in- dustrials. German bonda encountered fresh profit- taking but mining shares registered email advances. Financial Times" Indexi 130.7.—Associated Press.
Newsprint Supplies For Britain
Ottawa, May 29, British and Canadian newsprint
have officials renched agreement on in- creased supplies for Britain. Other newsprint-short over- seas countries are exported to obtain some relief from un- other conference in Washington to allocate Canada's Important production.
Layton, Chairman of the British Newsprint Supply Company, said yesterday. it an agreement has been reached with Canadian newsprint mifls.
Well-informed quarters
here estimate that Britain is likely to get
four or five times 20,000 tons of newsprint she got from Canada. In 1950, or more
ore than 10 per cent of her total consumption,
the
#bout
She may get even more in the following two years, dependent en world demand for Comedian newsprint.
But other overseus countries --France, India, the Philippines, Italy, Turkey also want news-
Every TUESDAY is SAC DAY to BANGKOK Print from Canada.
and DIRECT FLIGHT to RANGOON
BANGKOK/PENANG & SINGAPORE ON WEDNESDAY BANGKOK/RANGOON & CALCUTTA ON FRIDAY
For full particulars, please apply:
General Agents:
SOUTH EAST ASIA TRADING CO., (SIAM) LTD.
69 Connaught Road, West.
Peninsula Hotel, Kowloon.
Booking Agents:
Tel: 24292
Tel: 56416
AUW PIT SENG'S TRADING CO., LTD. 10, Pedder Street, Tel: 26733
CHIANG HUAT HONG.
340 Queen's Road, West, Tel: 36204
Britain Undergoes Greatest Jump Yet In Prices
London, May 29.
The biggest jump yet in the cost of imports of food and raw materials was announced by the Board of Trade last night.
Prices rose eight points last month to a new peak of 80 per cent. above the 1950 level," në over 75. in the £.
This represents an increase in the annual import bill of some
£800,000,000-more
than
our total defence expenditure lost year.
Increases have bean steepest in prices of raw materials for in- dustry, which shot up in April to 69 per cent, over the 1950 average,
J
Prices of nearly everything in
Wall Street Records Big Gains
New York, May 29. Without fuss and with very
the shops are affected by the little encouragement, the stock east of imports,
Unless there is a break in the commodity markets the increase
of
the
Their need may mean that emergency international alloca tion may be just around the corner for Canada's precious newsprint,
Informed officials report this may develop out of the Wash. Ingion conference of 10
roun- tries, now studying means 10 help overseas countries face a crippling newsprint shortage.- Associated Press,
Indo-Iraqi Trade Pact
Upward Revaluation Of Pound Sterling
VIEW OF FINANCIAL CIRCLES
(FROM OUR OWN CORRESPONDENT)
London, May 29. There is little chance at present that the British Government will accept the advice of the Economic Commission for Europe and mark up the value of the Pound against the dollar.
-This-is-the-view-expressed almost unanimously-in financial circles-
today.
Öné financial commentator says the chances of the Economic-Commission'a advice being" acted upon. are nil. Reverting to racing terminology — no doubt under the influence of tomorrow's Derby
"It isn't even a starter.”
The Financial Times re- ports that the British Trea- were not consulted Bury about the currency revalua- tion question.
Although Whitehali had prob- ably been impressed by the.ad- vice tendered to it recently by British economists, and now by the Economic Commission for Europe, that Sterling should
be raised to a higher level, the view that such a step might pre- cipitate a new external pay- ments crisis is still widely held in Whiteball, says its money.
market expert.
The argument that revalua- tion would help solve the terms of trade problem is discounted here.
he saya
HONGKONG SHARE MARKET
Ex-
(From Our Correspondent)
Business on the Stock change this morning was valued at $371,640. Nood prices and the morning's transactions:- SHARES BUYERS SELLERS SALER BANKS
HK Bank.. £345
INSURANCES
Union*** Lindemellers
Oscar Hobson, the News Chronicle's city editor, says it is for from certain that the prices
of raw materials-for example wool, rubber and tin DOCKS. FIC. in the Sterling markets would fall in proportion to the rise in Sterling parity.
It is even more 'doubtful whether we could count selling the same volume of exports at higher dollar prices in America and other dollar area countries or even in Sterling markets whose purchasing power would be reduced by lower prices of tin, rubber, wool etc.
A CONTRADICTION Financial commentators also remark on the implied contra- diction between the views put forward by the Economic Com- mission for Europe and by the International Monetary Fund over the week-end.
those
While the former body was recommending upward revalua tion of European currencies against the dollar, the Monetary Fund was reminding member countries of their. Ündertaking lo remove
or justify the ex.. change restrictions by March.
next
Where
N. P. What
XD Book Provident
LAND, ETC.
200 @ 1340 41340 26 6-0 1345 20 1343
30 6 1348
705 715
ક
TO 74 100 cm 72
4.30
03% 301
UK Hotel $5.20 * Land XB 32 S'hai Land. 1.10. Humphreys. 6550 UTILITIES
રૂમ
Trem
C. Light (0)
XD
C. Light (N)
XD
23.00
0.90
9,45
0.50
23.10 231
C. Light (B)
Electric INUSTRJA
Comer.t
Rope
Dalwy
Waloop
L. Crawford 2344
13
Rubber Export
Duty Up
Jakarta, May 29. Indonesia announced to- day that the export duty on rubber would be raised effective an July 1 from 1.08
Indonesian
conts per kilogram
to 1.20 сепи It
sald
that rubber is
Indonesia's richest national
cresses
and
de-
sharp in shipments in
the past few weeks have made it necessary to And a means of stabilising the national income. United Presa.
NY Cotton Market Recovers
New York, May 29. Colton futures turned higher today following Monday's sharp decline with the exception of neorby July which closed unchanged at 44.80 cents a pound. The remainder of the list finished 20 to 38 points higher.
At the close, the Agriculture Department issued the May 15 cotton parity price of 33.85 cents a pound. which was in line
with expectations and com- pared with 33,79 a month be-
·Pricas closed as follows:- Бров
1815 300 1 12% | fore. 17 200 @
The Rubber
Markets
New Delhi, May 20,
London, May 29. An Indo-Iraqi trade agreemen!
Prices of rubber futures has been signed to run to the end
closed here today as follows: of the year.
The Fund approves the pre-Number 1 rubber, in cents
per lb. rates but con July
4314-15 India will import wheal, rice, sent exchange millets, barley and dates from siders the time ripe for mem- | July/September
4134-42% Iraq-and-export-cotton-piece--| ter- countries-to-follow-up-de-- October/Decenter. goods, jute, tea, coffee, limber | valuation and combat inflation and pwood. The customs duties are subject ta most favoured nation treatment,
It was officially stated that the Indo-Pakistani financial
talks
were
will
postponed unill August. The Financial Ministers of India and
Pakistan with the Governors of the two Central Banks discuss various monetary and Gnancial issues arising out of the partition. Both sides wanted fur- ther information on matters to be discussed and agreed to defer
the discussions pending the col-
tection thereof.—United Press.
LONDON TIN STEADINESS
London, May 29.
The tin market closed steady at noon. Turnover was 100 tons, all on forward contracts.
Prices closed at the end of the official morning 50ssion
as
follows:-
Spot in. buyers
1.130
Spot in, sellers
1.140
Business done of....
Three-months địn, buyers
mil .1.115
Three-months,tin, sellers
1.11195
Business done at ......... 1,22735-1.112 Settlement
-United Press New York, May 29. Prices in the metal market closed unchanged with the fol lowing exceptions:
January/March
July
October
December
March (1952)
May
July
October
40.00 44.80 37.89-37.00 37.49-37.50
37.41
NEW ORLEANS MARKET
34.66
Unked Presa.
Closing rate
May 20.
4.91
44.03
37.70
MESSAGERIES MARITIMES
MOM
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ARRIVALS
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23rd June
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PORT SAID, TUNIS,-MARSEJLLIBS, ALGIERS, ORAN,
TANGIRE, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.
CIE DES MESSAGERIES MARITIMES Queen's-Building
EWAR
Tel: 20851 (Three Lines)~
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FAST FORTNIGUTLY SERVIOR TO:
*.
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via
SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "SALLY MAERSK"
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"CORONA"
M.S.
"ANNA MAERSK"
M.S. "ANNA „MAERSK”
M.S. "GRETE MAERSK”
M.S.
ARRIVALS FROM U.S.A.
“OLGA MAERSK”
May 31 June 14
June 80
June 4
June 28
July 24
"For Freights and Further Particulara please apply to:-.
AGENTS:
JEBSEN & CO.
Pedder Building
Tel. Nos, 26881-3.
37,33 bld
PATTISON ORIENT LINE
LIMITED
DIRECT SAILING TO PUSAN
37.34-37.75
Spot
October
July
-December
March (1959)
July 38-38 303-3014
May
October
31.34 bi 38.82 bld
-United Press,
Duo:
B.S. “LAURE PATTISON" June 4th
414
Sailing: June 9th
-United Press, BINGAPORE MARKET
Singapore, May 29.
by removing the restrictions on payments, particularly thase
Prices nate between
which discriminate hard and soft
of rubber futures
COTTON
closed here today as follows: JAPAN QUOTA soft currencies. The implication of the Number rubber, par ib.
May Monetary Fund's "reminder" is
Juric that Pounds and other cur-
July rencies which were devalued Number
May fully Number In 1940 should be made convertible before upward re-
May valuation is attempted.
Reductions
In Retail
Prices
3
2 rubber,
rubber
142
Number
May
151
140-147 14046-14131⁄2 13876-100%|
-143
13314-13914 133 -124
OF
112
Spot rubbar, unbaled Black crepe
No. 1 pale crepe
-LIA 150 -160
-United Press,
Grain Prices
Higher
2.4814-16
Chicago, May 20. All futures Anished higher today. New York. May 29.
Wheat futures closed A Burry of reductions ranging do 1% cents higher. Soy- to more
than 10 per cent on bears were to 3% higher.
Wheat-price per bushel. hitherto "price-fixed" merchran- spot
2.36% dise gave New Yore's retail July ....
2.30%-5% 2.4175-2.49 stores all the atmosphere of a Bestamber
December "price war" today,
→ Corn But an Associated Press sur-Spot vey across the nation failed to July disclose a central price culting Beptember December
Пус Most cities indicated that May merchants planned to hold the Jur, line on prices if possible. At the
me time they said they were Juty... Prepared to prices.
movement,
same
Oats
| May
market rolled up sizeble gains.
The impressiveness will be even price performance was lessened
meat competitora" by a lack of buying enthusiasm and by the narrowness of the forward movement,
in the cast of cipated.
greater than
WOOL DOUBLED Here are
some examples of what the rise in world prices
means to Britain:
Among the leaders gains ex- into the $1-$2
and some
In the first four months of last year the bill for 272,000,- tended" 0001b, of wool was £68,000,000. rather frequently
This
year 226,000,000lb, have moved a little beyond, lost £114,000,000.
area
Row cotton Imports have But the volume came to only gone up from £31,000,000 to 1,100,000 shares, the lowest in £88,000,000, and the bill for more than a month. coffee was £4,500,000 instead
of less than £2,000,000,-
The
Copper, (electrolytic export) F.O., New York, per lb. 27.50 ce.ts-United Press,
New York Sugar Futures
New York, May 29. World sugar futures closed today unchanged to 15 points higher, with sales totalling 209 contracts.
Contract No. 6 closed 2 to 7 points higher, with sales total- intering 201 contracts.
Contract No. 4 (world), July
Jusry (1957)
Trading starlod-quietly on the one bright feature is upside and continued in that wool prices hova dallen veln plmost considerably since last month. ruption.
that
Exchanges In NY
Now York, May 29.
Foreign exchange:
Cariada...
Holland
Switzerland
Venezuela
Pross.
without
Among gainers were Northern September
May
Pacific, Superior Oll of March | California, Cities Survice, Tekog
Company, Consolidated Copper July Mines,
03.004
20.20
23.09 30.03
Dow Jones Averages; Stocks ........... 20 Industrials
15 Railroads
Others unchanged. —Associated} 10⋅ Utilities
בנאדם
July
Contract No. September 00.58 January (1959) March 248.44 May 70.02 ) July 42.25 September
Spot
Associated Prom.
4.80 nominal
6.17 nomina] 5.35 nominal 4.35 nomina} 5.45 nominal 7.09
5.97 nominat 6.99 bid
nominal 6.63 nomina
5.03 nomink
United Prom..
Today's price cuto stem from a US Supreme Court
decision that stores which hava not signed "fair trade" agree- ments are not obligated to ob- serve the retail prices fixed by manufacturers. Prése,
1.7032 4.744-3 1.7213 4.05-1.04
1.80 1.03%
6316 69-843
New York Boup-per 200 ib, mck. $19.06––United „Press.
TEXTILE 'MARKET
The
QUIET
New York, May 29. cotton textile market
Same quiat, Associated was
quarters blamed the complexities of pricing orders more than heavy inventarios · for the
continued dullness in the goods market.
Wool
goods were quiet. Some
Japanese Bonds mills which are offering goods
Japanete boner
London, May 29,
"A" (x. of 1899) "D" (4 a. af 1910) "C" 16 B. oF HOTE "D" # of 1939) "E" (K140, of 1934) Consola
United Press, New York, May, 29. 25 Japanese bonds, declined in the foreign dollar section of the bond market today. Japan B and Orient Development Blixes each lost 11⁄2. Other? Japanese issues werd mixed Fractionally, Associated Press.
under the latest pricing orders were reported to be folding it difficult to pollu
Rayon goods were sluggish.--- „Asociated Press.
Exchange Rates
255zukamata was done in the Joeal thip market rock! Exclings
teri note, INTRA), KAN midening: ps the following retaking U.B. Challata (per/4b) Indonesia (quilders (jær 100). ; # Ellam tionis (per 100) Bingapore (SILEMAAN) VIC. Dimirea (per 100):977
Washington, May 20. Agriculture Department oM- cials disclosed today that Japan will get 15,000 more bales of the United States. retton from than had been expected for the period from April 1 to July 30. However, subsequently it was found that two errors in the Commerce Department's export
months of ponie The two
licensing division. azo had deprived previous errors have delayed the ship- ment of 15,000 tons to Japan.
supplies.
The errors were made during the August-March perlod when Japan was allotted 883,000 tons of American cotton. -- United
Press.
JAPANESE DEAL WITH INDIA
Kobe, May 20. The Daido Kikai Book Com- pany has concluded an export deal involving the shipment to India by the end of this year | of 8,300 diesel engines of below 10 horsepower at about $3,000,- 000,
The export price is $470
per engine-United Press,
SAILING TO. NEW ZEALAND'
loading second week June 'with transhipment cargo accepted" for TAHITI, FIJI and SUVA.
S.S. "VALLES”
12-14 Queen's Road C..
Tel: 25346.
Chinese Agents:
Overson Chinesa Steamship. Co., Ltd.
48 Bonham Strand W.
NOTICE TO CONSIGNERS
*.. "CHANGTE" Arrived 24th May, 1951.
Damaged cargo ex this vesiel will bo mælayed_by Mém. Goddard & Douglas at Hongkong Kowloon Wharf from 19.00 16. on Weddes- day, 30th May, 1911, and consignees representatives arò, requested to be present during survey.
BUTTERFIELD & SWINE, Agente, Australian-Orfantal Line Ltd.
Tels: 26646, 20127 & 81119
St. John Ambulanco Brigado
FREE AMBULANCE
SERVICE
2 Hongkong 35035
China Navigation Co., Ltd
Kowloon
32222
Pacific Far East Live, Inc.
Fast Regular Trans-Pacific Service
DIREOT
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الرقم
TO OVERLAND
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"MATHEW LUCKENBACE"
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Jun. 1
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Biralte
Jubr
July 17 San Francisco & Los Angelee
For full
call United Bisies Lino Go, General Agen is, Queen's Buildbor, Tali náinÍ