Page
R. I. L.
ROYAL
Date
In Part
In
Port
In Forf
17th June
16th July
GAR
h
June
June
22nd June
Ship
INTEROCEAN LINES
"TJIMENTING”
"RETS"
ARRIVALS
"TUTJALENGKA“ #THWANGE "RUYA
From
S. America, S. Afties & Singapore. 5. America, S. Africa, Singapore &
Salzon.
Macassar, dava Porta.
Macassar, Jaya Porte & Singapore. Japan.
SAILINGS
*THTJALENGKA“
TJ)MENTENG"
TWANGI"
23th June
"RUY"
18th July
"BUY"
་
To
Singapore. Java Potis & Machanar. Japan via Manila.
Singapore, Java Potis & Macassar. Japan.
Manila, Singapore, S. Africa & S.
America.
Agents: HOLLAND EAST ASIA LINE
ARRIVALS
Date
Ship
Jath 2000 11th June Early July
12016 June
130 June
Early July
"KIELDRECHT" "ARENDSKERK" "KJELDRECHT"
From
Europe & Singapore, Japan.
:
SAILINGS
То
"ARENDSKERK"
Manila, Singapore & Europe, Japan via Manita.
Manila, Singapore & Europe,
"KIELDRECHT "KIELDRECHT"
EEKING'S BOLDING, TELEPHONESZ20015210281:
SETHELSEZAGUS ISTALE CON SAGALE ROMË GEIGERNES
PENINSULAR
QUIS NOS SEPARABIT
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CARTHAGE"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 8th June at 12.00 Noon for the UNITED KINGDOM vin Straits, Colombo, Bombay, Aden and Port Said.
ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CAN- TON ROAD ENTRANCE by NOON on THURSDAY the 7th JUNE,
SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, Alli BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.
EMBARKATION: Will take place on FRIDAY the 8th JUNE between 9.30 am. and 11.00
11.131.
|
THE CHINA MAIL, MONDAY, JUNE 4, 1951.
SURVEY OF Revaluation Proposal Gets Mixed Reception
S. AMERICAN
TRADE
In
Financial Circles
(FROM OUR OWN CORRESPONDENT)*
London, June 3. An important international organisation-the Economie Commis. sion for Europe-has recommended appreciation of European currencies as a means of solving the present problems of inflation.
Mexio City, June 3. Trade between "Latin- Amerien und Europe is lower now than it was Before the First World War, according to report to the United Nations Eequo- mic and Social Counell yesterday. The joint survey was mudo by staffs of the
for Economic Commission Latin America and the Economic Commission for Europe. The Latin-Ameri- can Commission 18 now price spirals. meeting here.
--Despite the present-low-level, the report said, there a hope fat trade between the two areas soon will begin to climb. Ac- cording to the survey, the fallure of any trade expansion between Europe and Latin-America after World War I can be traced to the following factors:
1. Lack of many commodities for export to Europe,
2. High prices of some pro- ducts.
The Commission's argument is that currency appreciation would make it possible for European countries to obtain more raw materials and thus carry out their rearmament programmes with less risk of Inflationary
This advice has had a mixed reception hore. The "revaluationists" naturally welcome it while others counsel greater caution. They point out that the strength-of- Sterling-largely the result of the present high prices of Empire raw materials-is only transitory.
We have to face the upon the steps eventually taken problem of paying our way by the governments In carrying |
out the recommendations." during the rearmament
STOCK EXCHANGE This week oils captured the period, and this would be made even more difficult if attention of the Stock Exchange
and helped too
appreciation equlty
litt the industrial husty
market out of the should result in the Pound doldrums into which it had re- becoming overvalued and lapsed. An unexpectedly large
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business on the Stock Ex- large change this morning was valued
Oll started the movement but the morning's quatallons- thus necessitate another de-dividend distribution by Burmah at $81,280, Noon prices and Oil made the SHARES BUYERS SELLERS SALES Anglo-Egyptian
valuation.
3. Monetary difficulties. The report said this situation is the opposite of that which followed World War I when The advice proffered by the biggest advance on news that the International Monetary Fund- At
company is to move its domicile trade also failed to gain, thnt ume,
that it is time for more relaxato Cairo. Latin-American countried suffered from
tlon of exchange restrictions and towards con- supply of goods while Europe further progress
vertibility has hac
n only failed to make rapid enough industrial recovery.
slightly better reception.
over-
DANKS
1K Bank 1000 East Asia. 101
INSURANCES
Union XD
Underwriters
DOCKS, ETC.
10 1370
710 330
10 @ 700
N. Pt. Wharf 4,30XD 4.40XD Proviilent
H 10% S'hal Dock 1, 2.00 Wheelock ... 2114
Apart from a momentary and unsustained rally in gt-edged securities.
short-lived on tine belief that Britain might take | is true that Britain had the advice of the ECE and The report noted the fact that relaxed its dollar restrictions last revalue the Pound, the beginning
live handl Europe has long been depen-year we might now
from suffering dent on imports of foodstuffs bigger sincks of raw materials of the week found the markets
indecision after LAND. ETC. and raw materials while Ex- which are no longer avat
available their recent hectic activity. porting products of its factories,
now that we have dollars.
Derby Day brought its usual It said that therefore the ex-
the IMF seems
to be decline in business and it was the pansion of Latin-American food!
that not under
impression
until Thursday, when and raw materials available for Britain can act Independently of dealings for the new account export is needed for the re-
the Sterling Area as whole.
began, that industrials came back stomation of European, export
into their own. industries. This would be the prline factor for the beginning of expanding trade between Europe and Latin-America.
RAW MATERIALS
Another need is Increased confidence that much trade will
for grow. This is necessary financial backing to start the flow of raw materials across the Atlantic. Both America and Europe must correctly Judge each other's needa.
ability
Latin-America's buy imports from Europe's industrial contres will depend heavily on how much raw ma- teriat those contres buy from Latin America. It said the im petus for this trade musi come from Lati
Latin-America "since that is the source of raw materials.
will have
to Latin-America increase its export output be- fore an expansion of trade can take place. This will require the creation of a greater mea
are of confidence in the future prospects of international trade which can be achieved only by the development of au increas
inst
number
measures,
of stabilisation
of
The report said that one the main reasons for the failure of increase In trade between the two reas in the period between the two world wars was the low level of European Investment In its export in- dustries. The situation is now changed, giving hope of ex- panding trade.
The report will be studied by the Latin-American Com- mission now meeting here and the European Commission in Geneva.-United meeting Press,
Slump In
PATTISON ORIENT LINE Grain Prices
LIMITED
DIRECT SAILING TO PUSAN
S.S. "LAURE PATTISON"
Due:
June 4th
Salling: June 9th
SAILING TO NEW ZEALAND
8.8. “VALLES”
loading second week June transhipment cargo accepted TAHITI, FIJI and SUVA.
with for
12-14 Queen's Road C.
** Tel: 26940,
Chinese Agents:
In Chicago
Chicago, June 2.
The grain markets slumped at the outset and showed little rallying power throughout the session at the Board of Trade an
But
Our gold and dollar reserves have been built up largely as a result of the high price of Sterling Area commodities and they have been accompanied by an enormous rise in Sterling balances held by our partners in the Commonwealth.
NO RELAXATION
way
Porthoses
Price War Expected To
JK Hotel HK Land S'hai Land
UTILITIES
Tran** C. Lipit (0) XD Zlectrio Tel. XD INDUSTRIALS
Cement Rope STORES, ETC.
Dairy Watson
Crawford
COTTONS
Ewo...
1.15 1.30
101
MESSAGERIES
M
"BASTIA"
MARITIMES
M
ARRIVALS
from Haiphong
SAILINGS
PASSENGER/FREIGHT SERVICE
"FELIX ROUAARL" "LA MARSEILLAISE” ́"LA MARSEILLAISE”
"DASTIA" "AURAY" "QUINTREHAM"
+
to Marseilles to Japan
to Marseilles
FREIGHT SERVICE
11 June
Jard Junia 11th Aug.
22nd Aug.
N. Africa & Europe 13th June ....N. Africa & Europe 13th July .N. Africa & Europe 12th-Aur- for
PORT SAID. TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CARABLANCA, 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, vĨA
SAN FRANCISCO,"LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S.
"CORONA"
June 14
2000 @ 214
M.S.
"ANNA MAERSK”
June 30
M.S.
"LEISE MAERSK"
July.16
ARRIVALS FROM U.S.A.
M.S.
"GRETE MAERSK”
June 26
M.S. "OLGA MAERSK”
July 19
M.S. "LAURA MAERSK”
Aug. 7
kho tàu 1009 BỊ
15 600 2322
914
2012 124
17 500 15
25
A
Spread WORTH ST. IN
New York, June 3. Price cutting wars are OK- to break out in Ban
Francisco and Omaha on Mon- day, but the leader of the Now York war said it was ready for a truce.
These balances would have been a source of great CITY. barrassment if the rest of the Commonwealth had not been content to let them accumulate. We cannot now, therefore, restrictions in relax the dollar such J
that the reserves i pected built up from the earnings of, for instance, Malayan rubber would be dissipated in
of
non - essential consumer goods from America.
Financial observers have been quick to remark on the apparent contradiction between the of the Commission and is due to difference Inductions at six per cent. in line work This
policy at prices, emphasis rather than in funda- with the traditional
The Commission "six per cent less for cash,” mental sims.
Strect But competitor cried that believes inflation should be Macy's offer was
Interest a false truce. watched with growing tackled at once and as a separate Thoy charged
that when they the battle of prices in the problem by appreciation European
neet Macy's six per cent cuts,large department stores here. currencles ̧vis-D-vis
the big store chops off another They hoped that the fever would the Dollar.
in intensity and bring The Fund believes that by
six per cent. 11 appeared that grow
with it a heavy demand for the New York war would go on removing trade barriers more
and bo taken up by other nest textile items. oconomic use could be made of
experts believe that day cloth cities, the work's resources which, in
buying movement which may itself, would be a disinflationary
develop at prosent will peter om rapidly.-United Press,
DOLDRUMS
New York, June 3. The cotton goods market con- tinued in the doldrums last week, reflecting nervous trading for row cotton together with greater resistance to current i prices.
Mary's, the largest depart ment store in the world, which precipitated New York's rush Buyers in the grey goods mar- of bargains last week, said it her preferred the sidelines as would be satisfied to stop re-commission
houses sought to out the new ceiling
the
measure.
A DISAPPOINTMENT Those who expected quick results from the International
In San Francisco, Weinstein's Department store announced in e newspaper advertisement that prices on many "Calr tradio" items most drugs and sund- will be cut On Monday. rics -
The reaction Was felt im- when Weinstein's retorted that they
Materials Conference which mediators
set up months
in Washington three to study problems 320
of raw material shortages will would not be underscid. be disappointed by the progress so far achieved.
has just issued of the first three months
em~
A
for the spokesman porium sold tartly that his the The central group of the or-organisation did not
યુ
largest store ina Son ganisation report work of the various commodity cmmittees, in which it notes one definite result of their labours they have conclusively proved that raw material shortages do in fact exist.
But to leave it at that would be to give an unfair estimation of the work done by the com- mittees some of which have not been in existence for even three months, Their hardest task har been to collect and collate data. In "establishing an estimation of available resources and needs which affords a general view of the situation of resources in short supply," the committees have contribution made a valuable towards eventual solution of the problems.
Each commodity of which a shortage exists has to be treated
by selling at higher prices than other merchants. Weinstein's said that electric toasters would be cut from $28.5 to $21.19, and electric razors from $24.60 to $19.50 and
cigarette lighters from $0.00 to $5.29. United Press,
Review Of
NY Cotton
Futures
New York, June 3, Cotton futures were a dull
Saturday. The markets opened Irregularly lower as colling far- tors came into play, meeting little or no buying response. Renowed rumours of peace, based on speculation that Britain individually. Production pros- and two-sided affair last week Is attempting to convince the peste differ from one commodity as dealers watched outaide Communists that a truce should to another and on the consump- developments for fresh trading
be called in Korea, 'bad a
depressing effect on the market
Prices closed here as follows:- Wheat-price per kaske)
2.5716-2.30 Spat Fisły Reptember
Milimen
in
Worth
However,
Rubber
In S'pore
Futures
►
AGENTS:
For Freights and Further Particulars please apply to:-
JEBSEN & CO.
Tel. Nos. 26661-3.
Fedder Building
BEN LINE
FAST SERVICE TO UNITED KINGDOM AND CONTINENT
BY
S.S. "BENLAWERS" LOADING HONGKONG 5th, JUNE
FOR
LONDON, ANTWERP & ROTTERDAM,
VIA
MANILA, SANDAKAN, STRAITS, COLOMBO, ADEN- & PORT SAID.
W.R. LOXLEY & CO., (CHINA) LTD.
York Building.
75
Singapore, June 2, Prices in the rubber futures market here closed today follows:- Number rubber,
(per 1b."June
July August Number2bber.
Jurse
Number 3 rubber, Number 4 rubber,
June
Jum
Spot rubber, unbaled. Black crepe
No 1 pale crepe
Exchange
1451⁄2-2401)
430-15019 230-107
190-141
134-137
13049-1326 1471-146) 110-412 #55+10% -United Pres.
Rates
Business was done in the local unomictal
this exchango market morning at the foliawing rates:— Sterling note (per 1)
30,76 U.S. dollars (per 91) ******* Indonesia guilders (per 100)
027
3.70
Slam teals (per 100)
27.50
Singapore (Btraits)
FIC plastres (per 100)
Tel. 34165, & 38710.
STATES STEAMSHIP CO.
S.S. "COLORADO"
LOADING ABOUT 13th JUNE
FOR
VANCOUVER, SEATTLE & PORTLAND DIRECT
DODWELL & CO., LTD.
Agents
Tel: 28021/6,
mPacific Far East Line, Inc.
tion sido "the prospects are no incentives. At the close of the less varied."
week, the market. ruled 20 points and held the volume of trade at
Then
again there is the ques- lower to 30 points higher er off- light to fair. The weather was
tion of satisfying all the various 21 a bale to up $1.00 a bale again favourable for the gow-
interests involved, and the com- from the previous week. ing crops throughout most of the
miltees have set themselves an Nearby July delivery remain- nation.
onerous task by declaring that ed under the constant pressure
house the
and Now needs
of all interested of commission countries are to be given full Orleans liquidation, Influenced
of a conskleration and are to recolvaby
a softer tane treatment with equal
those in the spot mass rallied after a
Vanel positions de buyin. Other Lower
"GROEGE LUCKENBACH” by the The central group also reveals
encouraged
ptioning Dat with two exceptions the Communist resistance in Kore "MATOR LUCKENBACE" committees have initiated it and the less optimistle outlook
"OFOROK LUCKENBACH” study of allocation systems. When for a quick end to the conflict
the with
need for they
10T WEDGAD, LUCKENBACH" down to recommending deilalte, steps to alleviate the folrain in cortions of 140 and Fastary belts. shortages they may be up against Central their greatest dificulty,
Atlanta and Memphis advices
BAI92-15
December
2.4512-6
Cora aput
September December
1,70-1,50! 193
1.123-1
Rye
Oversea Chinose Steamship Co., Ltd.
MAY
July
}
48 Bonham Strand W. Tels: 26640, 20127 & 31119
GALE
May
represented
on any
start on
Fast Regular Trans-Pacific Servico
OVERLAND
NEW YOUK-CHICAGO DETROIT-TORONTO · MONTIKAL AND ALL AMERICAN & CANADIAN, CITIES
DIRECT
SAN FRANCISCO, LOS ANGELES
#TOZE
San Francisco San Franciaco
Arrives
Jun. 14
สนิ
Strait
Strait:
· Jun. 14
July →
- Jun. 2
Jun. 18
July 4
Strella
July 10
July, 17
For
San Francisco # Los Angeles Ban Francisco & Los Angeles Ban Francisco de Los Appoin
vis Kobe, Nagoya &"
In the words of the report, reported persistent Ught demand For fall particulare call United States Lincs Co., Gerismi Agents, Queen's Bufiding, Tel: 28105, New York flour-per 200 b. anokhe results obtained will depend for spot cotton-United Frest,
Closed-Ualted Press.
15