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June 30 July 16
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June 29
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THE CHINA MAIL, FRIDAY, JUNE 29, 1951.
SHIPPING FREIGHTS
Exhaustion Of
Rice
Supplies Forecast
Washington, June 28.
The Agriculture Depart- ment sald today thai the world rice
supplies aro likely to be exhausted before new crops come in late 1951-1952.
The Department sald
the predictiop was based on a first-hånd, survey of the flee picture in Southa east Asia. The big reaso11 is to disrupting influence An- of the Korean war. other reason, however, in that some large rloc-deficit countries have, increased be- their buying power cause of the high prices they have been getting for rubber, tin, Copra and
other products. Japan Is also
large becoming a bidder for world rice sup plies and India's require- ments have increased, the Department said. - Unital Press
Boll Weevil
Killer Demonstrated
Henderson, Texas, June 28. Farmers in this area are praising the "dream" invention of a 50-year-old Rusk County. Texas, cotton' raiser that exter- minales boll weevils.
E. E. Perry, tenant farmer with 11 children, saki he clearly saw his invention in a dream last summer
after he had unsuccessfully fought the In his
cotton-killing weevils 30-acre patch.
He demonstrated the "dream" contraptiory today in a field of
For Freights and Further Particulars please apply to:-lush cotton near here. Some 59
JEBSEN & CO.
Pedder Building
Tel. Nos, 96066-9.
Japanese Yards Want Orders From Foreign Countries
Tokyo.
Japanese shipbuilders are out to secure or- ders from overseas ship-owners to supplement their own country's shipbuilding programme, which may have to be slowed down because of financial difficulties.
In particular, they are an-
build xious to
tankers for overscas' owners, as they be lleve that they could deliver
201 within 10 to tunkers months of the conclusion of a contract.
ducers say they are not tain that they can meet chipyards' demands.
Recovery In Index Of 15 Per Cent
A
NEW RECORD SET
London.
Shipping freights in May recovered sharply from the setback sustained in Aprit and jumped by over 18 per cent on the month to a new pealt.
The Chamber of Shipping index for the month was 203.8, a rise of 27 points compared with April | and almost 52 points above the figure for January.. The advanco in May was the biggest monthly improvement shown since the 30 point increase re- corded for January,
HONGKONG MARKET
SHARE
Rates are now nearly three times their level of a year ago, the index number for May. 1950, being only 71.4. the lowest monthly figure for that year.
The extent of the recovery of the index in May caused so surprise in shipping circles. One of the chief factors contributing to the rise was a marked ox-
sterling
Firmer Tone In London
Londan, Igre 28. Prices on the London Stock Exchanye were main-
ly firmer today.
Leading Industrials and olis
lls fuproved and there
wie firmnes
in diamond
and gold shares.
The Financial Times' In-
dex: Preen,
135.4. Associated
NOSEDIVE
BY N.Y. COTTON
Effect Of Korean Peace Prospects
New York, June 28. Belief that a Korean Lonnego cease-fire order may be (From Our Correspondent) pansion in
cotton into Business done on the Stockbookings. Previously idle trades imminent sent
staged a spirited revival during Exchange this morning was
offsetting a nosedive at the close. valued at $518,889. Noon prices month, thereby
the seasonal depression causing and the inorning's trans-
lowering tendencies other actions:-
directions.
SHARES DUYERS BELLERS HAĻEB BANKU
5 @ 100
HK Bank.. 1420 1435
East Asia INSURANCES
Carton
Vaion
Underwriters
HK Fire
DOCKS, ETC.
K. Whirt
103
240
2:20 730
3.25 3.68
133 169
100 m 1635 to a 1930
|
the
in
It is expected that the Index for the current month may show a decline becavas fails ranging from Za §d to 20s per ton have been freely noted in several leading trades. The U.K. Char- tering Committee secured lowering of the grain rate from the St. Lawrence by as 9d per quarter to 108 Bd in the first two weeks of June. 1000 @ 153!
74 7631 230 a 15
N. P. What 4.20 4.45 1500 Dock
S'ha Dock. 3.10 2.80 LAND, ETC.
4.45
KH 480 5.10 2000 IK Lead .. 2214
500 35 S'hai Land 1.50 1.30
12.25
UTILITIES
Trom
Biar Ferry
· 67
C. Light (0) -6.29
1500 R 12.20 1000 12.25
AUSTRALIAN GRAIN
a.
As to conditions in May, to
which the index figure in shortage of grain cargoes Australia confined chartering activities that month within
jn
Nearby October delivery dropped to 30.02 cents a pound, the lowest level since last Nov. 25.
soft
Prices opened on the side and remained under gradual pressure, finishing at the bottom levels and off 40 to 53 points on the day.
The
weakness in
other
markets, especially grains and a flood of recarities, brought selling orders in the afternoon
The ngs.
concentrated
Wall Street commission houses was regand- ed as liquidation of the term speculative position. Ring observera estimated one com-
3000 12.50 extremely narrow limits. Rates mission house sold 4,900 bales
for bulk wheat movement 10 1600 @ 620 the U.K. retreated from 102s ed
to 1509 per ton.
On the other hand, North China shipperse transport
actively booked
C. LIZHI (N) 3.45 C. Light (1) 6 6.10 800 4 8.05 Electric
24 24 700 i 24.50 14002421
10
Telephone Lesptical formers and civic INDUSTRIALS leaders Witnessed the test. Cement. 1011⁄2 During the demonstration, Perry drove the tractor, with machine attached, up and down eight rows of cotion on a toron three miles east of Henderson.
the
STORES, ETC. ·
Dairy Watson
por
Kwon Sang
Hong COTTONS
Ewo
4500 101 1000 or 10 1000
102
vessels for
of
each in December. March and May deliveries,
Pago
R.I.L.
ROYAL INTEROCEAN
Date
7th July
th
July
19th July
toch July
27th July
18th Aug
th July
17th July
18th July
21st July
3rd Ang.
20th Aug.
Date
12th July End Y Mid About
13th July
End July
Bild August
Ship
ABRIVALS
"VAN REUTAZ" -TJITJALENGKA“
HRUYER -TITWANGI" "BOISKVAIN"
"DOTAREYAN"
LINES
From
Belawan Dell, Penang & Ringapore Afnemerar, Jopa Porta & Singapore Харар
Mütsisar, Java Porta & Singapore A. America, 9. Africa. Hingapore f
Saigon. Japan
SAILINGS
"VĂN HIEUTRA "TJITJALENGKA”
"UO199EVAIN”
“DGUBBYAIN"
Заран
To
Ringapore, Java Ports & Macassar Manila, Singapore, 8. Attica &
A. Amerien
Japan
Ringapore, Java. Porta. & Mackasar Manila, singapops, B. Atries & 8.
America
Agents: HOLLAND EAST ASIA LINE
Ship
"KIELDRECHT/? "AAGTRHEKK" "AAQTEKERK"
"KIELDRECHT" AAGTEKERK "AADTEKEOK"
ARRIVALS
From
Japan. Rurope & Aingapore JIPATI
SAILINGS
To
Manila, Kingapore & Europe. Japan via Manila
Bionika, Singapore & Rurope
EKING'S BUILDING. TEIFFIONES) (2001 TO28017
BLOINGMEMGLAISSEZ KOSSARGIE" KİTAPAS ELİNDANGANA
SELLING WAVE HITS
WALL ST.
New York, June 28. The stock market was hit by
Trade Pact Discussions
Broken Off
Berlin, June 28.
Cast Germany has
broken
a selling wave today in the final off negotiations for a new inter- The crop and weather news | session of trading and prices zonal trade agreement saying remained on the
favourable brolte down by as much as that West Germany had como side. Traders zaid tempera- three dollar a share among forward with new and impost- tures up to 100 degrees in the leading shares.
sible demaTKİS.
Dr Heinrich Vockel. Berlin The rush to sell started 300 representative of
of the West after the State Department dis German Government, announ The market opened unchanged closed details the Russian cing this today, denied the
for a cease-fire in charge
mixed cereal cargoes to North Europe and India and, though freights in the latter
part
the month were below earlier the volume of business
Texas sections represented real cotton-producing weather.
Michidea was sufficient to im- 10 of 14 points and remained proposal
124
100
000 17.25
638
part weight to the
40 €
1.00 2.10
**
Grain Prices,
under pressure right up to the | Korea, close,
13.83
35.71 bid
of
to the index.
•
Tonnage bookings on a time 100 obrtAT
Hardest hit were steels, ralls, charter
much basis attracted
Prices closed here as follows:- motors, alls and mining shares. attention during the more
Spot
40.00
Brokers feel that peace in month. Liner companies were July
44.50
Korea could bring with it a tem- 30,02-35.05 willing to
increased Dotober pay the
35.81-35.83 porary unsettlement of business demands of owners in order to December
because of the effect it would eradicate the heavy barklogs March (19321
May
have on the nation's, rearmo- July accrued in previous months.
ment programme, Resumption of Welsh cool) Oolober
December shipments to Argentina served further to stregthen the general several tone of the market, charters being effected at 125s per ton, which compared with 825 6a per ton pala in March.
Perry's complicated looking machine works the way. A tank lied with the inventor's own special insecticide is on the hood of the tractor. This fluid flows through twin "tunnels" past hot exhaust pipes of past tractor. The heat from the ex- haust pipes vaporises the fuld and it is then sprayed through nozzles into metal hoods open at the front on
each side of the fractor. Each hood has metal springs which act as agitators to gently shake dead larvae in- sects and eggs loose from plants Prices of grain futures closed and into metal trays underneath. here today as follows:-
Wheat-price per bushel.
Slump
Chicago, June 28. Wheat closed 2% to 3% lower coybeans were higher-to-4- lower.
After the test, Perry' proudly | Spot called for the formers present | July
December
to come and take a look. Several September pulled a plate from under the March (1932) it was filled with fractor and
231
2.3016-35 2.343-22 2.3019-4
May
2.41% 24122
cer. all
dead weevils, larvae eggs and other Inseels-United Press,
Сега
Soot
1.70%
July
September
1.0514-34 1,04
December
FIST-1.571;
Starcii (1952)
1.001
ATAY
building industry tons of
Нуе
July
Septembar
EXISTING PLAN Under the present programme the steel must supply 130,000 steel piate by the end of Sep- tember for the construction of
Negollations are now pro- ceeding between Japanese ships for Japan's own *mer- bullders and several owners chant fleet.
in South America and South- Another 20,000 tons must East Asia for the construction be set aside for the construc-
smpil and
of
vessels.
medium-sized tion of ships for export under previous contracts, and a fur- ther 150,000 tons for repair There is
dimculty, work. some however, in securing supplies
the of steel plates for larger ves acle, and Japanese steel pro-
ECUADOR'S
ECONOMIC PLANNING
of
that
San Francisco, June 28. President Galo Plaza Ecuador declared today his country is moving toward complete 62lf-susterlanCI the supply lines to the Far East should be cut off by war.
U
the
delivery within
months.
America Using More Rubber
New York, June 28.
Uata July
September
35.40
3187
-33.41 bid United Freks.
NEW ORLEANS MARKET
Spol
TIMBER RATES FIRM July In view of India's urgent October need for food grains, River December
March (1852) Plate shippers were prepared May to pay almost any rate, thereby July accounting for the advance October
December from 1555 to 170s per ton, as against the steady decline in ta treight payments for grain
the UK. 140s to 115s per
toil
booked an Timber Control Increased amount
tonnage of 1.63 asked from Eastern Canada, and North Londings at Finnish
1.831-4
1.0713
7296-79 2432-7514 New York flour-per 100 lb. Sack. $1.70.-United Press.
The Rubber Markets
Prices
June July
Europe.
parts involved paymeria of 1878 Od to 263 per fathom, against 1055 to 100s, and from Sweden the rate moved up to 1968 per fathom, compared April peak of 160s.
with
the
Minimum Pay For Workers
I
New rubber consumption In these circumstances,
May increased 40.57 per cent Japanese shipyards are unable to lay keels this year for any 90,734 long fans consumed
to 110,208 long tons from the in
Singapore, June 20. ships for overseas' owners
Geneva, June 28, rubber ai
futures instructions they receive
for April, according to the monthly
The International Labour Con- of the Rubber closed here today as follows:- 16 to 18 rubber report
ference today approved a new Manufacturers' Association, In-Number 1 subbes, per ib.
143 -443/convention on minimum wagea 1:30 -13914 This means that
Japanese corporated.
for the world's farm workers. 133 134 shipyards are unable to
August sign
By vote of 110 in favour. 31 rubber, June 13055-1401% Consumption of natural rub-Mumber contracts for short-term de-
Number rubber. June 14-133 against and 27 absentions, ber during the month was up Number rubber, June 14-1881 CD-nation conference Ilvery
foreign to
buyers.
8.40 per cent to 43,182 10n89pos rubber, unbaled. 160-153 Another dimoulty whichi 13
member State every long tons Black crope lons from 30,807
100 -100 likely to discourage orders for
165 -100- Bhould create or bigger vessels to be built i
used in April. Use of synthetic No. 1 paje crepe ...
quato -United Press. Japan
rubber amounted to 67,144 long that shipbuilding la
NEW YORK MARKET tons, an increase of 12.01 per costs in Japan are at present
cent over the 59,847 long tors comparatively high.
ured during the previous month.
Price Of Silver
Increased
New York, June 28, The price of silver today "This trip of mine to
returned to a 30-year high United States in the starting
level or 00.iq cents an ounce off point for greatly increased following Mexico's decision economie development of withdraw, for the remainder of Ecuador," President Plaza told
a news conference.
for
to
the year as a sliver exporter,
Harmoon, Mojarz Handy and bullion dealers whose quotation
Consumption.
of reclaimed Industry was rubber by the estimated
the
Closing rate
June 19. 44.91 nominal 44.35 bid 7380-25 DI
35.05-33.08 35,80
39.08 tid
35.31 bid
33.80 bid 33.58 bla -United Press.
Persia Changes Sterling Rate
on-
London, June 28. The Board of Trade nounced tonight that it had re- ceived information from Teheran that
have
been made in changes the exchange rates for Sterling as applied to imports into and exports from Persia, and the National Bank has announced suspension until further notice of the opening of all credits and retirement of documentary bills by authorised banks in Persia,
The Board would not elaborate the statement but it was understood that the new
On
Volume came to about 2,000, Xong the breakdown
and sald that the the break- responsibility for down rested exclusively with the East German Government.
The new inter-zonal trade cover the agreement has to period from Jan. 1 to Dec. 31 this year. At present East- is carried West German trade out under a preliminary agree- ment which expires on Satur 000 shares for the day. Wed-
Vockel announced that nesday's business amounted to
of only 1,300,000 shares.
the inter-zonal trade negotia- tions
East-West On
German Among hard-hit stocks were sub-conunities is meeting hero Nickel Plate, Southern Railway Inter to discuss the possibility Southern Pacifle, Gulf Oil, of extending this preliminary Ciles Service, Kennecott Cop- agreement for another several per. American Cyanamid, months-Reuter.
Chrysler,
American Can, Bethlehem Steel, Goodyear, Boeing, Douglas, Lockheed, American Smelting and Zenith.
Curb
lower.
stocks were mostly
Dow Jones Averages:-- Stock
20 Industriala
1b Rails
10 Utilities
87.70 down 113
*
1.40
0.34
.244.00 73.05 42.22 -Asociated Press.
Increase In
Taxation
Asked In U.S.
Washington, June 28,
Mr
Silk Markets Ignore Korea PeaceTalk
New York, June 28. The talk of peace in Korea has apparently had a little in- fluence on the raw silk mar-
the ket either in
United States or Japan, an authorita, tive trade paper said today.
It said: "The market сола tinued to move within fairly narrow ibnita. Both the
trade and
D.
induele here are adopting
waiting attitude for the time
to
The buying..
The Truman Administration
of raw elik by and - asked the Senate today to in- American manufacturers
new purchases in Japan by change rates are so unfavour-crease income and sales taxes by
importers picked up markedly able to Britain as to preclude about $10,000 million. said that further trade between the two
the previous two ir The House of Representatives
weeks. been of the
have the ILO
buying approved an increase of $7,200 Thay ade- countries. maintain
million but the Administration around $4.50 a pound. Nearby machinery whereby Under the old rate there minimum rates of wages can be 90 Rials to a Pound there were spokesman, the Secretary of the delivery was reported dificult
John Snyder, Treasury,
obtain. fixed for workers employed in United Press. New York, Juno 28.
asked the Senate to add about "Importers" :. purchases in Crude rubber apot No. 1 rib- agriculture and related occupa-
Japan in the past two weeks $3,000 million.
Mr Snyder
amounted to 2,500 Senute probably
Informed Finance Committee that the in- to 3,000 bales, one crease voted by the House of Surce estimated. These pur
shipment Representatives was insuficient, chases for forward
from were made in a rango because
threatened to put the
around $4 to 4.25 a pound. Government "in the red" and "Dealers here have been in-
inflationary tomations
things, fluenced, among other should
have
bed smoked sheets: 00.05 ask-tion confirmed a preliminary
jedi.—Associated Press.
at 34,822 long tors, LONDON
7.59 per cent higher than the 82,170 long tons used in April. -Associated Press.
NYK Ship In Bombay
Bombay, June 26.
TIN
IRREGULAR
London, June 28. The tin market was easier and irregular. Turnover was 120 toys Including five ions for cash. Frices clored at the end of the omcial morning session follows:
tin, buyers
1:30
880-870
-United Press.
decision made last Monday.
Government delegates from New York Sugar
Futures
Britain, France,
Sinica favour
the Unitei
valed in and Australia
of the convention. Canada, India and Ceylon were among those abstaining. South Africa was the only Government delegation to vote against.- Reutor.
add to
told the
New York, Juno 28.
Congress, he insistere World sugar futures today unchanged to 10 points 810,000 million in axira, faxes moved to cover some of thele
closed provide at least, the roughly by the higher price set
spring cocoona and higher, with sales totalling 232 asked for by President Truman needs-United. Proas contracts.
and should. aim originally chiefly at individual income and Contract No. 0 closed today excise taxes for the $2,000 mile
Market lower to higher with sales lion addition to the House tax Canberra Ruling
Pepper
Firms Up
totalling 225 contracts.
Prices closed hora today. AD follows:
Contract No. 4 (world)
September
Spot tin, buyerH ZAKO @pot tin, sellers. He had completed several is the basis for transactions of Regular shipping service was die done at plans at Washington
silver had cut its quotation to resumed after nine years be Threo-mouths
Three-monthu tin, wellers 50 economie development of Als 874.on June, due to thetween India and Japan today Business dona at
July New York; June 20. segionable
the Sunko | Belilement country, inbluting a US$7,000, reduced
consumer with the arrival of
The 'pepper market ruled January (1083) 000 loan
from the Ecocente demand and the excess foreign Maru of the Nippon Yusen
March qulot but was firmer in tong in Co-operation Administration. sliver.
Kaisha in Bombay. Since the U. S. Treasury had
company with higher, Bombay May.
July
Beptember: been buying virtually the en-
July Apot was indicated Interest was tire domestic output of silver
Thuaine was done in the local shipment or September delivery at 00% conts an ounce, Mexico
September for a few years had been one hoped the resumption of ship-ung mich allows at round $1.00 but sellers field January (1658)
*15.70 (at 31.70-1.71. a pound. Ship-art “And wo can produce 10 of the chief sources of silver | ping would result'in flourishing guriang pals (per, KY) times what we do
esso mestofferings from 2) India" Prev today for industrial Um,
trade between the two countries," || UD; dailyra (per (1) The price of silver in London Capt. Fujimura requested the Indonezi uliders par 100) Crough technical co-operation
this United States," he remained unchanged. United co-operation of India in
Prese.
connection.United Press.
The President selu Ecuador wge already of rice.
a largo producer
Japanese ship told a Press con- ference aboard the ship that he
Captain Fujimura of the Exchange
Rates cables.
Slam tons (per, 165)
Bingapore.... (Birmitu)
Fic plastres (per 209)
[zizim,
29.00
Traged between 81.01.71. ^ J012.
* pound, including cost 13.100 Freight/United Press,
Cand
September Spot
7.13 Nominal
bill--Router,
7.00-100 traded NEW YORK BANK
643 nominal
0.94
8.74.."
·7.00
Contract No.
196 traded
· 8.91 meininal.
0.00
·United - PreSB,
QUOTATIONS
On Imports
Canberra, June 28, The Custome Miniator, Bena- tor, Nell O'Sullivan, orlounced today that Import Reences will by granted 100 the following
the Importers. goods, provided
for
reasonably
New York, Juno: 20. Closing bank quotations: Bank of America 20 bid. 271⁄2 || purtain_offers
| aand, } early delivery:--tin blate, cop- Chase Nailonal 30% bld. 30% par, iron, sisoi plats, sheet and raskad, Fetrip, aluminium ingot, alumjole National City 43% bid, "450 um alloyingot, a bug" cálico, @asked, bristles, newsprint and other Associated. Prem, ...) paper. United. Pross.,