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CEKINGS BUM:DISCÆTELEPHONES/28015510900175)
CHIUSE STAGESTELDE TONSARGIH KOKARMSIKMA E
Synthetic Wool To
Mass-Produced
Be
Washington, June 19.
THE CHINA MAIL, WEDNESDAY, JUNE 20, 1951.
Move Against World Trade Pattern:
Price Fixing
London, June 10.
The British Government will move to break price- fixing systems 'which con- trol the minimum cost of 30 per cent of Gre than
the goods sold in shops throughout the
the cotmtry,
"White The Government' Payer today said that the way in which manufactur ern enforced fixed retail prices "amortits to a'l- vale system of law and punishment allowing no appeal to the extàbilshöl courts of Justice.
The White Paper fol- Lows a speech by the_Pre- wide of the Board of Trade, Sir Hartley Shaw- cross, in Parliament last week, mying: "We must week to wet the people in Industry free."--Reuter.
CUTS IN TIN PRICE ATTACKED
New York, June 19. Indonesia today attacked American tin price cuts, saying they are wholly in- consistent with President Flarry Truman's
Point Four programitie.
The Republic asucă a state- mhent in New York enying its Embarry In Washington had protested to the US State Department that the cuts might suriously imperil the world's tin
a
The statemerit salà: "Produc- tion cannot be continued at the reduced prices, not only be- cbuse It woulà e impossible to maintain operations at much
of return, but also be re cause labour unrest would set "The
Intest Higuras sbow Indonesia
is the world's third argent tin products, behind Malaya und Bolivia,
United States Govern-
in"
A spokesman for the Defence Mobilisation Administrator, Mr Charles E. Wilson, told the United Press today that Mr Wilson was expected to declare within one month that synthetic wool was necessary to the defence effort so that it can be mass-produced to provide uniforms and blan-ment, sole buyer and seller of kets for the armed forces.
The spokesman said Mr Wilson feels that once synthetic wool is mass produced, it will take the same place in relation to natural wool that artificial silk at present occupies in regard to natúral silk,
all
Most other types were Irregular,
The
tin in the U.S., has sloshod its
dour times price
so far this month with the latest quotation in New York at $1,06 per pound
Bolivia has also about the country's jeopardised
complained
the
exyttre
is economy since tin is its
major product..
Need For Increase In
European
Production
London.
Problems created by the Korean war, consequent recrmement pro- grammes, and raw materials shortages, are dealt with in the third pro- gress report of the organisation for European Economic Co-operation (O.E.E.C.), now issued.
The report stresses that the problem for Western Europe is not one of returning to an equilibrium which has been upset by the effects of the war in Korea.
"It is one of continuing to strive towards the goal of complete recovery while at the same time maintaining the defence efforts and alleviating the new stresses to which this has given rise."
In the course of the re- the same time as it is rearming, to try to complete its economie port a programme is sug-
recovery now three-quarters gested, to enable the mem-achieved. The situation ahead ber countries of OER.C., will therefore require much co "to consolidate their re-operation and good handling by
Governments, covery and enable their economies to support the of in- necessary burden creased defence expendi- ture."
volume of manufactures for both our home and oversCNS trade has full to be revained, materials end to bolilemedios in
shortages
prottuction.
of
CricTibiul
that we are now contrant- ed." the article donmorts, "with a a vituution wilch its or no moans to our liking is purt- ly our own domg. If one "Sizle marshals its resources for big boying, others may be expected
to follow this lead, not only in regard to buying but also in EXPORT TARGETS
of Importance
substantial regard to selling. Having spon- the policy of State- the value of
Our spred increases in
WC nre now
called exports daring the coming year trading,
We was emphasised by Mr G. C. upon to count the cost.....
the are now enmeshed in the toils It is urged that production of Dixon, the chairman of the of a system which
is steadily Merchants raw materials
Export in Europe. National
becoming more and more in- particularly of cool, Iron and Group, in his address to the tricate."
meeting. He was fairly sulphur, should be increased, as agilmistic that the target set by mind, the fallure to purchase Many commodities leap to also production of raw materials
be would Government The overseas Overseas.
which. by the bulk polley reached, but it must be remem- heavy grammes would require
at the right ilme, has capital expenditure, as, for bored that the increasing costs of brought Britain to a state of continuing ley housing. The report imports was a serious matter timates that of $5,000 million and we must face the fact that
fumbled tim- shortages." would be
balance needed for the
of which
Sean-1 payments ber for
for housing from in position
might deteriorate. The
and news- Africa south of the Sahara
the pulp dinavin:
famine; feat from
vy
the
costs and
the next ve years, $3;000 million | terms of trade were still moving | Amorlea, which provides trould have to go into public against this report presented the dual instance of having to and semi-public investments.
The annual
This
Concerted measures already to the meeting expressed the buy tou late at too high a price taken for establishing priorities view that if traders had been from Argentina, which hus country's taught the Government a lesson the use of scarce
raw free to ports and exports, | in bulk-selling to the consumers' materials and for controlling needs, in their distribution between coun- tries should be developed.
in
Tho
MESSAGERIES
M
"FELIX ROUSSEL" .. "EPINAL
ARRIVALS
MARITIMES
from Marveilles
from- Euthipe- SAMLINGS
M
PASSENGER/FREIGHT SERVIUE
"FELIX ROUSSEL" "LA MARSEILLAISE” "LA KARSEILLAISE"
"AURAY" "GRENOBLE” “QUISIREHAN” UNTERONG"
:
to himselfiem
FREIGHT SERVICE
23rd Jupe 6th The
Dith June
.N. Afrion & Europe 13th July N. Atrion & Euriph St, July N. Africha Puripe I2th Aur
for
PORT SAID, TUNIS, SARSENAES, ALGIERS,, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRE,
ANTWERP & ROTTERDAM,
CIE DES MESSAGERIES MARITIMES
Tel. 26651 (Three Lines)
Queen's Building.
MAERSK LINE
FAST FORTNIGHTLY SERVYOK TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, VI SAN FRANCISCO, LOB ANGELĖS AND FANAMA. NEXT SAILINGS
M.S. "CORONA”
M.S. “ANNA MAERSK” M.S. "LEISE MAERSK"
Jane 190
ARRIVALS FROM USA.
backward nations have
M.S. "GRETE MAERSK”
Jane 29
governmental
M.S. "OLGA MAERSK" M.S. "LAURA MAERSK
Jaly 19
Aug. 9
Co the
would have been better covered. cost.
Trader private
could act be quickly in changing circum-been
while
were
us
the strongest efforts to Colonies. These countries llar i pressuro is being exerted
control inflation, and efforts to solve the structural scoriole certain countries problems of The statement
noted that should be intensified. President Truman recently said
GOOD TROGRESS
other Amer. The ditempl
particularly foodstuffs.
at be
If the
Mr Wilson realised it hus:] components pre petroleum and
coul.-United Press. some of the same. qualities
as urtificia! gilk,
namely when
PRICES DROP
Sydney, June 19. wet, it dries very quickly and loses Its wrinkles. Mr Wilson There was a further decline believes that factor will prove in wool
Sydney it was America's desire to raise values at today. invaluable when synthetic wool sales
the standard of living in Asia Practically uniforms and blankets can be descriptions of Merino fleeco
and added:
officials to re- comebacks and provided in quantity for the and skirtings, Armed Forces. Mr Wilson had crossbred dropped fully five per duce drastically the earnings and 1980, Industrial production
from.....rew. materials. wholly
is utventhis matter ~getive- and if cent compared with yesterday.-- onsident with the declared rose by 45 par-dent; îbs-total wall--be faced -with-a-world | Thentic, as part of ́a Lavourable consideration that within one month the De- fence Mobiliser was expected
declare
wool synthetic necessary to the defence effort. One of the bit considerations
Most types di Adelaide sules In Wilson's mind is the fact were irregular. Only a few of
Mr that synthelle wool can be pro- the best wools remained firm duced of considerably cheaper on yesterday's rates. Many in- prices than the present prices at ferior fots received only a try Which natural wool is sold by an bldg in a buyers' market. -- Australia and
other countries. Associated Press. Mr Wilson was disappointed the present high wool prices at
to
at
a time when the United States has instituted price tellings on of scarce strategle numbers
materials such as sulphor and
mr
ziner Wuson feels that through ¤ Kystem of allocations the price of wool would have been that this vital controlled so strategic material could be sold at more reasonable prices to nations taking part in rear- Mr Wilson Trandat efforts.
was aware of the fact that the Wool Commodity
Principal competition again came from the Continent and Great Britain.
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business done, on the Stock
this moming was
Committee Exchange of the International Materials valued at $209,500. Noon prices. Coffference had not to becomplish anything because and the morning's transactions
306
the President."
years, the proceeds of tin
while
STATE-DUYING.
<AGENTS:
JEBSEN & CO.
Pedder Ballding
on
ກ
RE-
ako
Pro
Tel. Nos, 2006149.
M.V. "FELIX ROUSSEL"
Will sail for
MARSEILLES
Via
MANILA, SAIGON, SINGAPORE, COLOMEO, DJIBOUTI and PORT SAID.
oh
Sunday the 24th of June 1961 at 11 p.m.
quick to seize upon A special effort should
agricultural stances, to increase masic
revenue, They have been production, as fed needs are changes were slow and depen-policies which offer them easy
On Inter-dopartmental taught the petard of nationalised For Freights and Farther Particulats please apply, thre Increasing, and will impinge dent
a new policy grab in Persian oil and shown heavily.
countries decisions before on most
was sanctioned. problems.
that hesitance in cimching balance-of-paymerit
Mr Dixon stressed the need prices just lead to higher ones. Obstacles
international
for continued efforts to main-But con our planners tea'n nede s
should be further reduced and equilibrium in the balance tain and, if possible, expand our from experience and advice. of payments between countries dollar sales, but pointed out that
this must not be done at the DEFENCE PRODUCTION should be secured.
According Member Governments should expense of 'our, Dominions and
to reports, litflo make
the sterling area's
satis European manufacturers to gear
their corners, and they must
plants for defence pur- fled. He suggested that we were
poses. By whom? Presumably moving into a world to planned that
new vious by the United States. With th
and,
to a exception of Britain knowledge and experience
lesser extent, France: West On progress made in the past well go by the board. three years, the report gives some plans for the redistribution of European manufacturers are fot wealth and the uplift of the receiving aufficient defence or-
асга to make
re-tooling neces- Interesting figures. Between 1947 standard of living of backward
rtices were carried out we might sary. One might consider such a situation, if complgrand de- material, sign" defelt in the current balance
to develop European policy of the recent time in payments of Western Europe was
war industries where they reduced from $8,000
least vulnerable and likely to $1,000 million; exports sales are directly benefitting by 91 per cent in
In the current review of the be over-run by an enemy. That the Indonesian people and in imports rose by only 22 per cent. District Bank, Ltd, some of the Itself would be a tribute to island position, but as is closely related to Indancelo's The most impressive aspect of the fallacies of Government bulk-Britain's hard wir potential drive to raise the nation's stand-
European recovery during the buying policy are discussed. In long by ard of living."
period is the reduction in the the course of the article it is have to be paid for out of a The statement added: "The dollar gap; in 1940 this was stated that the theory behind
commercial dwindling present price of lin should be at high as $5,000 million, but by bulk-buying was that after the
or sacrifice seems least $12 per pound."
1950 it had been reduced to wor it would regain for to the w of goods some equalisa~ | Concerning recent charges by $1,000 million.
fall power and privilege of
n recesso motor-car industry, ⚫ U.S. official that tin prices The report estimates the net great Importing
Country To
instance, is hampered by should for inst Western national cartel the Indonesian incom
Europert have Teserves income of
large at statement said:
$29,000 millions, com
and. stock-piling.
valuable commodity in our ax- countries 1. Catagorically state that posed roughly as follows: 67,000 On the other hand, a etatralie-port
trade is dwindling in are wholly million to reduce the read system would force a hard volume and value as rearma without foundation in fact and we balance of payments; 36,000 mile bargain with those anxious to ment gets into its stride,
Both register a most vigorous protest Hon to raise the level of gross sell surpluses were no France and Italy, with huge
national investments by
by one-fifth
The article then plants available for army trucks, comments: "Here was a polley jeeps and kindred craft, are to provide for more education and which would give un the best of without orders for such, and are health services; and $16,000 mil both worlds; it would provide making private cars for home
on to increase the level of the most economical methods of and foreign consummwilon, personal consumption, the ever- seuring our food and the
is thereby losing marketb age in all member countries being materials for
duously
Cultivated our industries,
since almost back to the 1938 level. The thereby greatly helping to in- 1945; the sterling area countries, | report notes that the combined
nhla to get from Britain goods increase our competitive effects of freeing trade Dotting up the
the Europtan Pay-
for putting million held on their behalf, are 070 ments Union has been to Increase
"of centralised buying turning to other sources for be to the test. Three instances are needed goods, whether those trade by 37 per cent since 1940 cited. In 1940 and 1950 prefabricated ho
houses with full early of demand of Antings or motor-cars or textiles. the two-and-a-half years from
countries
The cost, as well as the alloca the inception of Manshall aid to many
fled and there were signs of
initials of strategia the end of 1950 the countries of recession. Overseas soles were whould, at ence, go unto t
of tion,
poo! Western Europe had gone far determined by cheapheis, "but for the common causb, dthat- towards fulfilling the objects of
article continues, "we felt the vise a situation might well arise the ald
programme, achieve pinch Sharply enough since our whereby one or two countries ment of which was set for manufacturers had to pay more become the unsecured, tind Idoking bank on these Amaz ments. the report estimates that then their foreign competitors thereby unpaid, creditors such S., “VALLES" LOADING.
for metals and other materials, anaverage of $3,000 million dietid and consequently were las obie 29 Britain found herself imints |
49
tion of effort
[ had been forced 'up by in inter-increase in three years in the combat shorts Nipia – } lack of steel, and as a result this:
Ruth statements
with respect thereto.
"There is no international tin cartel in existence.”—Associated Press+
LONDON PRICES
London, June 19,
Prices of tin closed here today
at the end of the official morning SC89ion as follows;
beca
on able
SHARES BUYENS SELLERS SALES
Spot tin, seller
Spot tin, Buyera
Business done at
ant!
25 1400
240
certain member countries will GOVT, LOANS not agree to allocation
(1948) 934 D1⁄4 BANKS
TK Bark .. 3410 $420 Epit Asia .. 100
price
control of raw wool. MASS PRODUCTION After
de- Wilson has Mr clared syntholic wool, necessary to the defence effort, the De fence Production authority will Issue 'certificates
necessity
to fiems manufacturing synthe- tic wool, which through tax benefits will allow them within a period of five years to
Day off the costs of their manufac turing pant The Defence Production Authority will also see that these firme get high priority, for the machinery required to manufacture synthe- tle Wool.
Mr Wilson was understood to have received assurances from Arms that have begun to j. manufacture synthetic Wool
INSURANCES
Canton.XD Union XD 710
Underwriters JK Fire
DOCKS, ETC. 40
K. Wharf
N. P. Whart
XD Dock.... Provident S'hat Dook
LAND, ETC.
4.30 45% 32.10
Wheelock... 21 HK Hotel
현
AIX Land Xa
'S'itat Land. 120
UTILITIES
TYRE
Biar Terry
XD
1120
8512
15.00
Light (B)
C. Light (o)
30
Three-month tin. buyer
Three-months tin, sellers Business done at Settlement
100
buying
over the 1947 level; $1,000 million
cumulatin
and
The
*basic
Bri-
years were in part payment of the £4.000
930 the volume of intra-European de
9:35
DCO
United Press.
710
43 @ 710
Grain Prices
-29000 295.15
EKO 12, 000S, 2,
In Chicago
Chicago, June 19. Prices of grain futures closed here today as follows.c Wheat-price per bushel
July
Spot
September December
METERS (1952)
Miky
24 3200 6 214
10 100 0 20
Carn Sudi July Beptember December March
****** 0.70 4,00 000 € 5.70
2336
XD
XD Sipetrio Telephone
INDUSTIU Cement Rope
that when this 'fnáserial is do- citirea necessary to the defence effort, they will go into mass production as quickly as possi- ble. It
may take two three
or years before this new industry STORES, will really enter into its stride. and in the meantime
dral of its named
pected to be
Armed
a great
Dairy
Watson
COTTON
Ewo
1000
1234 (600 @ 10%
Crawford
It is further stressed that in the back-log had been satis-
the
Jor
Passengers are requested to vorra the vessel with their cabin baggage on SUNDAY the 24th of June between 5 p.m. and 7 pm.
Baggage Room and Hold Baggage will be foris, tered at Kowloon Godowa, No. 50 (No. 2-Gate Cantori-sa Road, Entrance), on FRIDAY, the 22nd 57. JUHO, between 2 p.tn. and 4 p.m. knd SATURDAY the 23rd: of June, between 9 a.m, and NOON Imperatively."
No Baggage will be accepted för registration after this time. CIE DES MESSAGERIES MARITIMES:
Tui: 260ki yo Lines). Queen's Bldg.
PATTISON ORIENT LINE
LIMITED
SAILING TO NEW ZEALAND
FOR AUCH
and 'thatüfac- |
12-14 Queen's Rohd C.
diately after the Second World mado a difference to a year has Flutroph (in 1949 Waulis) of orders. It cannot, therefore, Be be a Lend-Lease with b. suspen
to compete
much-needed war. In plain words, let there $31,000 million
year ∙of ro venue, and has brought back said that bulk-buying gave us slon of payments in, strategie
raw materials consumption a head in Western any noticeable support in that
tures: Kuture almost to the pre-war phase of peace-time trading."
SECOND TESTI The second test arose is à fesult
the Korban wat, In the Eume period, ogrieu- | "Shortages, not surpluses, were taral output was raised by 33 How the problem ahu, we per cent above that of 1047-40 tað be much time as others
(when weather
th which to act and ʼn longer bud), and it is hoped that the purse than most with which to agricultural target bet for 1952- buy for
Jovel.
2.38||+2,30 2,8216-243 2.45 230
101-31
July September
Fruly.
781 September
Yow Your four-per 200 lb. Back. 25 $1200) United Pres.
Whe
INDUSTRIAL OUTPUT
conditions were
our then, were
future needs.. 58 will be attained Industrial
circumstances production reached its target for
an unprecedented for a Stile mario- 1982-69 by 316 end Sr. 1000;
then producing ac i
poly of importing to prove its cont per
above tho level of
10 worth yet it falled to do so.. 1038.
time the
The 1ht of Information At the same dollar gap had been cut from which
..a eritros $0,000 million in 1947 to #1:000 We have been availible million in 1980. With the help hardly
anit
When high ofcials
Exchange Rates Japanese Bonus of the supplies
June 19,
Was 'ex- to the Forces for uniforms blankets, fr Wilson ond believed that commercial
of synthede wool become avall milk, will receive the same Bisrinear was done in the local enthusiastic.demand from the unmelal...exchange. public as: han artificialalik. morning at the followin rate
Mike | Sterling notk (pées 1) Qu Life prevent high prices of raw rule, notlar (per 2017
Figyorón quiigora, pier 100) 20-
market
ENS
Minibus to the production of Singapore (Birate)
ontheus de wool, Whore" chief, pic plurites (per 199) Quik
this
Pacific Far East Line, Tee
Fast Regular Trans-Putite Service
NEW YORK-Chickeð þríkỞ
KONTREAL AND NEA, AMERICKY 2 CANADIAN SYTYKA
DIECT ́BAN PRANCISCO, LOS ANGELES
*Verrel
it "akokoh TUGEENDACH
1t credible.
“HDGAR LUCKENBACI” Should Bave run by
We
Lowards honl liberali- pur) dicks. sation of Trade Inben-European and
from
wavement 64 1060) aha of the down rather har
cunt above that, of:
The report uphliter, that we have to col
1 the problem 100% Europe is at me, yet, ment
·Billy T
Daly an
d