R.I.L
ROYAL
Date
Ja Port
72ud Joly
1
Aug
151 Aur.
4th ADE
Atte.
8th Aug.
210 Alg
מוו
201
Judy
3rd
AUK.
5th
Aug.
602 Aur.
GI
Aug.
ANE.
ALE.
23rd ABE
Dale
Ship
"AUY"
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Здран
Fram
Marantar, Java Ports & Sngapore 3. America, 8. Africa, Ningaperr,
Saigon & Manila
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8. America, S. Africa, Singapore &
Manila
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Africa
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Singapore, Penang & Delawan Dell Japan
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21st July
"AAGTEKERK"
13th AuguAL "AAGTEKERR"
2nd week Ang. "ALMKERU" "ALMKERK” Mid. Hept
24th July
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2nd week ARE. "ALMKERK"
Mild. Sep. "ALMKERK"
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B BAKINGSEBUILDING=TELEPHONESİ="BOTSTOVODGE |
Foreign Buying Of Gold In U.S. Shows Big Drop
Washington, July 18.
THE CHINA MAIL, WEDNESDAY, JULY 18, 1951.
Kwangtung's American
American Move To End
Grain Crop
Tokyo, July 17, Peking Radio sala lo- night that the grain crop In Kwangtung Province was expected to friertane by 107,000 tons as a result of irrigation works con- કાted surlor" the past half year,
The
Radio
added that
sugar cane, jute, tobacco. alik egroan and fruļi trops had also. Increaseit greally-Reuter,
DULL DAY
ON LONDON
EXCHANGE
London, July 17. Trading was light and price changes minor on the Stock Exchange today.
Brigh Government boods held steady. Shipbuilding stocks. and other selected Industrials scored small galus, Texile shares were slightly lower.
World Monopolies In Rubber, Tin And Wool
CALL FOR UN EFFORT TO CRUSH
"RESTRICTIVE PRACTICES”
United Nations, July 17.
The United States gave strong indieations today that it is going to ask the UN to do something about world-wide monopolies in wool and rubber.
Without specifying the countries or products aimed at, the US. delegation has announced that it will ask the UN to create international machinery to crush what it calls "restrictive business practices."
The move threatens to tramp on the toes of America's allies in the UN, as well as some enemies.
any negotiations, theso Eources said.
That may be why Isador named to head the British team Lubin, head of the U.S. mission to the Economic and Social Council meeting The Financial Times Index in Geneva, is unwilling to
was 130.8, unchanged.
Japanese bonds
"A" 14. of 1000)
“D” (51. of 10101
"C" (B%. of 1907)
"D" 18 of 10345
1115
me names until he gets into the 18-nation session 151 opening on July 30.
An aide said, "The State De- partment is playing its close to the vest of this one. We are not going to tip our hand."
He added that the US, state-
"E" (899, of 1934) Consola Associated Press and United Press.
ADVANCE IN NY
New York, July 17. The stock market advanced today after early hesitancy was erased by modernte buying in- 1erest
Leaders limited their gains to around the dollar a share lovel. Fractional losses were scattered. Volume was around 1,200,000
shares.
Chief interest
was the sharp advance of Shell Oll, Northern Pacife, Amerda Petroleum and Montana-Dakota Utilities. These tied together be- Issues were cause Shell brought in a new important wildcat oil well in Jensed Montann on property from Northern Pacine near Amerada's Discovery well in the Williston Busin of North Dakota, areas served by the
Bonds were mixed, with changes narrow.
Foreign purchases of United States gold have Montana-Dakota Utilities. dropped sharply after a year-long splurge reduced this country's reserves by more than $2,500,000,- 000.
The Treasury reported today that the second quarter of this year's net sales of gold to foreign governments totalled only $55,000,000.
be-
The sherp drop was ileved to have been caused in part by the reduction in the States United amouni foreign aid-a nujor source of American dollars which could
be used to buy gold.
The United States bought large quantities of gold from
THREAT TO
CUT QUOTA
foreign countries during and OF COPPER
imtmediately, after
World War
If when selling gold, was one
of the few ways Europe could
guld source of dollars.
Washington, July 17.
the
Curb stocks tended lower. On downside were Consolidated Smelting, Crepio Mining and Petroleum, and Kaiser Frazer.
Dow Jones Averagest
20 Industrials 15 Rails
10 Utilities
Associated Press.
cards
ment was issued at the urge of numerous other
delegations who were mystified by the U.S. entry on the heavy Council agenda. They wanted to know U.S. more about what the
wants to do on "restrictive business practices.".
Rearmament commitments under the North Atlantic treaty. have put a heavy drale on Britain's finances, and the Gov ernment was convinced that now is the time to put the brake on prices terials.
In the past year, raw ma terials Imported by Britain have gone
up by 72 percent and the overall import bill in
of raw ma-
creased by 42 per cent.
On the other hand, export prices hove
risen only by 18
percent.
TERTURES MADE
sald MI sources Gaitskell outlined the plan to
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this
morning was valued at $218,404.85. prices and the morning's trans- acions: SELABES BUYERS SELLERS BALES
BANKS
HK Bank East Apa INSURANCES
I re...
K. Whatt..
42
***
Noon
ધ્વ
MESSAGERIES
MARITIMES
MOM
"AURAY "GRENOBLE”
ARRIVALS
from Japan
from Europe SAILINGS
"PASSENGER/FREIGHT SERVICE
"LA MARSEILLAIST”. "LA MARSEILLAISE.
*AURAT*
to Japansk
10 Marnstijan
FREIGHT SERVICE
20th July 24th July
Dth AM. 2201 Aug.
....2, Africa & Eurono žixi July „N. Africa & Europe 17th Aug, ....N) Afelen & Europe Bath ARE. N. Africa & Europe 3rd Oct. for
PORT SAID, TUNIR, MARSEILLES, ALGIERS, ORAN, TANGIED, CABABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.
CIE DES MESSAGERIES MARITIMES `A LIMITED COMPANY IN CORPORATED IN FRANCE Queen's Building
Tel. 28851 (Three Lines)
MAERSK LINE
FAST FORTNIGHTLY BELVICE. TO: A
NEW YORK, BOSTON, BALTIMORE ♣ PHILADELPHIA, vis
SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "GRETE MAERSK"
...1405 1500
100
July, 31
243
Union
745
M.S. "OLGA MAERSK" M.S. "LAURA MAERSK"
Aug. 14
Aug. 28
Underwriter - 3.60
4000₫ 3.50
135
ARRIVALS FROM U.S.A.
0 2900
M.S.. "LAURA MAERSK?
Aug. 8
14
2.40
M.S. "HULDA MAERSK"
Aug. 21
M.S. "TREIN MAERSK”
Sept. 4
600
For Freights and Further Particulars please apply to:-
AGENTS:
the Organisation for European DOCI ETC. Economic Co-operation in ilke in Paris last week. He was re- ported to have made dennite
N. P. What 4.35 Dock
S'hal Dock
105 Koiaj .. 4.00
HK Land
Shat Land
Humphreys
UTILITIES
.. 2001 0015
1.15
0.00 0.50
Tram ... 131⁄2 131⁄2 200 m 131% Glar Terry .. 7214.
C. Light (0) 7.10 1.20 331 17 C. Light (N) 430 4.50 2000
The U.S. answer is that the U.S. has had a trustbusting policy in this country for years. overtures to other countries aim-LAND, ETC. It has tried to stimulate tradeed at lining up support for the although he pro- and competition by entering programme
to be
"thinking tariff-lowering barriers. It ap- fessed only
the aloud." proved the creation of
If Mr Gaitskell wins enough It Europeau Payments Union.
pro-support to overcome any pos the strong applauded
sible. United States objections visions against the monopoly and set up international con- restraints in European coal and trois, it would have definitely steel
included in the industries,
favourable political repercus- Schuman Plan.
slons in
In Britain as
led by "The U.S. is convinced that
Left-wing Labourites, the facts will show that mono- Mr Ancurin Bevan,' charged that polistic practices on an interna- the Government was neglecting Bonal scale can and do keep | Britain's. damestic econcile
priess unduly high....and hold pechisms in an attempt to korp real wages down," the U.S.! LM with America in the arms statement said.
rate
2:000
C. Light (3) 0.90 0.95 6540
Electrie
27 27% 100Z Teicnbon ..21% 1335*
INDUSTRIALS Cement... Rope STORES, ETC.
Dairy
Watson
FRIVATE CARTELS
Although it was still unknown. 253.89
Charging that private cartel what the United States attitude 75.93
international price Axing interpose an arrangements woul 43,67
restrictions that stunt indus would be, these scances pointed COTTONS
Ewa Tejcolad trial and
growth,oul, the United States commercial
Sur proposals from and defeat trade stimulation similar
the Stafford Cripps, Mr Galtakel's moves already
years ago, predecessor, twa United Press.
Decline In
NY Cotton
March
May
July
October
December
34.01
34.66
3468 ME
34.ta
New York, July 17. Colton Cutures closed 75 to 95 obtain badly needed dollars. Commerce Department oM- cents a bale tower..
34.74 But the Marshall Plan
October re- cials said today the United
December plaused
the primo States copper export quota for
Eventually,
India will be cut drastically if there is any indication that the foreign govern-
war ments with enough dollars to metal might be used for
gold they cold with Pakistan.
Omeinls in
Com- both the merce and State Departments expressed growing concern over The United States gold reserve the deterioration of Indo-
about $22,000,000,000 Was
resulting
It provided
buy back the
to the United State a few years earlier,
to $21,750,800,000.
NOT ALARMED
relations
in Pakistan 1840. By the end of 1949 from the massing of Indian reached the pealt of nearly troops on the Pakistani frontier, $24.200,000.000. ow it's down Events there are being watched closely and a State Department official said information was ex- Treasury officials were never | pected at any moment through almed at foreign purchases,
oficial channels from
New because the United States st Delhi and Karachi to shed morn had far
than it light on the situation there. more gold. actually nerded, There
A high polley-making official
legal minimum which must be in the Commerce Department held in the Treasury -- about said the copper export quola for $11,000,000,00q-to back up the India will depend
on further information on the possibility The males also turned out to of war between the two coun- It is still too early to
currency.
བ
•tries.
he a handy tool against inflation, tries what the result will be, he because
foreign governmenta say deposited in American banks 10 said, because the present, ple- pay for gold, thus reducing the ture of events there is based on amount of money in circulation. } rumour, claims and counter-
But United States oifleials pre claims.
suspicious that some of the gold The copper export quots for lu found its way into the black the third quarter is expected to market abroad where It is
net within the next two
be
being sold for $12 per ounce weeks, he said, and if there is compared with the $35 official
any good indication that India
sale price in the United States.
32.73 nominal 32.50 bid
38.30 nominal
Middling spot
NEW ORLEANS MARKET
Cotton futures closed 45 cents to 75 cents a bale lower.
October
34.61 34.47-48 34.02 34.56 3421 bid July Spot closed $3.75 bale lower. Middling
37.25 Associated Press.
December March
May
TEXTILES STEADIER:
New York, July 17. The cotton textile market `display- en lightly steadier tone today. The wool market was quiet, with interest
Government Socused on orders.
Rayon goods were elated Press.
taken..
statement went on:
."Many of the private ar rangements which restrict trade extend boyong the juris- dletion of any one country. In- ternational collaboration there- -Core-is-necessary.
Biggest Works In
Europe
"Much is already being done within the UN on the subject of governmental barriers to the International movement of There is at present no goods,
of the problem consideration created by private cartels.
Port Talbot, July 17.. U.S. considers It highly impor
The biggest steel works in tant that this subject also examined by the UN and will Europe-It took four years
form of inter- build the tional action which will best promote competition, as against restrictions, In
be
11.54
11.40
11 11.10.
24 141⁄2 100 m 3415
10
1000 14.30
1000 14.39
21.30 2100 cm *2.50 2000 2.30 2000 230
·TIN MARKET EASIER
London, July 17. Prices of tin were casier this "morning." Tumover wagTM-110 tons, including 30 tons for cash. Prices closed of the end of the official morning session as follows:-
at
JEBSEN & CO.
Tel. Nos, 860G6-9.
Pedder Building
PATTISON ORIENT LINE
LIMITED
S.S. "LAURE PATTISON”
DUE FROM:
LOADING:
Kobo In Fort ̄ ̄ ̄ ̄July 18th & 19th
€37. 94214 84211-840
8:0
12-14 Queen's Road C.
Bia
Spat tin, bayers Spot up, sellers Business done st Three-months tin,
buyers Three-months tin,
sellers
017-815 Rusiness done
BID United Press. Settlement
New York, July 17 Copper, lead and zino futuros Owned by the Steel Company closed quiet, no sales.----Asso- of Wales, the Abbey Works,ciated Press. covering over 240 hectares, re- present the greatest industrial
£00,000,000 and cost was opened here today by the Chancellor of the Exchequer, Mr production Hugh Gaitskell.
and distribution of goods."
Informed business quarters recalled that much has been said in recent months about the
rising prices of tin and rubber, project undertaken in the Br Rubber Futures
controlled by British interests. SOVIET ATTITUDE "The same goes for wool and for the cocoa that
tish Isles since the war
Altogether, the plant will produce a million and a quarter goes tons of steel sheet and tinplate into your chocolate bar." one year and will employ 8,000
British men. authority said. "The
may deny it, but either.
thoy
The plant has one of the
In S'pore
Singapore, July 17. Prices of rubber futures closed day as dollows
159-13915
133-1331
or their Commonwealth coun- largest steel strip mills in the Number 1 rabber, per lb - slow.-Asso-
tries have a great deal to say world, producing 500 kilometres about supply and price of of steel sheet a week.
Do
August September October
Black crepo
] Number 1 rubber, August Built with the help of dollars Number 1 rubber, August 129- raw materials.
U.S. has
real from Marshall Aid, it includes Number rubber, August monopoly. There are other big nearly 20,000 tons of American Spod rubber, baked
to pcbinery costing $20,000,000-No. 1 pala crego all interests in the world. challenge ours, we have bigi Reuter, but not the only aluminium industry, and agreed to
TheThe
Grain Prices
In Chicago
Chicago, July 17. Prices of gin: futures closed,
The International Monetary might divert its copper imports here today as follows:-
Fund rerently asked all mom- ber countries to guard against the black market because of resulting pressure on the United States to raise its oMcial prico The
stead- Treasury refused Instly
this. United Press.
to
DUPONT! SALES INCREASED
Wilmington, July 17. The E, I. Dupont de Nemours and Company reported sales for the first six months of this
totalled $770,000,000 year
32 per cent higher than a
to bullets, the Indlan quota will
be cut-United Press. ·
Conference On Germany's Debts Ends
London, July 17.. The three-power preliminary Germany's ex- conference on ternal debts ended successfully here tonight according to usually reliable source.
Wheatprice per buchel,
2014-1
just we have
ощ allocato
sup
Chinese Agenta:
SAILING FOR:
Puson & Japan'
July 20th
Tél: 26846.
OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W. Tels; 25646, 26127 r 81119
THE TWO GREATEST NAMES IN NAVIGATION
KELVIN & HUGHES
(MARINE) LTD..
REPRESENTED BY:—
JAMES J. KING
The Hong Kong Countryside Throughout The Seasons
NAUTICAL OPTICIAN. G. A. C. HERKLOTS
-United Pred,
ST. GEORGE'S BLDG. TELEPHONE
35993.
Dileg of industrially important New York Sugar Exchange Rates REPAIRS TO ALL TYPES
sulphur conomic
and
Social The Council has three Soviet bloe members in Russia, Czecha- slovakia and Poland.
The U.S. move at
Geneva
OPTICAL, SCIENTIFIC, AND Binlinech was done in the Ineal NAUTICAL INSTRUMENTS
by
$25
Second
Impression
On sale at
morning at the following FALE CARRIED OUT BY HIGHLY Kelly & Walsh, Ltd.
713 TRAINED
TECHNICIANS UNDER PERSONAL SUPERS, C. M. Post, Ltd.
Futures
New York, Jiya 17
lower, 126 con-
unofficial
marker exchange
Sterling sale. Îner Sik, ka** US Dollars (per, si ... Indonesia “güthiers" (per, 300) so sickle cper 100) Mingapore (Bernika) MIC, plutoser (per 100).
this
16.43
3.30
1.201
113 VISION
machine-tools
and
closed 5 to 10
strategic material
World sugar futures closed ls expected to bring an out today 7 to 13 points
the Soviet bloc, with sales totalling cry from which wants ball-bearings, tracts.
other
Contract No No.
the West points tower, with sales total- bars to them because they are ling 128 contract. afraid it might be.. fred back
Prices closed as follows:-'
Spot
July
September
December
Blarch (1982)
May
Corn
Brat
243-43 2.438
1.00
July
September
December
In bullets, and bombs
some
March (1033) May
September agen
day-Associated Press.
BRITAIN'S ATTITUDE
Merch
*1.036 bid
1.031
May
Britain's
78 bid 7714-
Jittery
By July Beptember July September New York four-por-200 1. Back. $12.85.-United Press.
Seeds And Qils
Loudon July 17:
· Contract No. 4 (um103
Jonakry (100DZI
A
2.41 614
0.91 iraden
BÃO natainal 1.41 Omahal
* Dominat
and
HONGKONG & KOWLOON
Pacific Far East Line, Inc.
Fast Regular Tramp-Pacific Service...
StatutorERLAND
NEW KOBR-CIÍÇANG DETROIT-TORONTO MONTREAL, AND ALL AMERICAN D DANARIAN, CETIKK
DIRECT BAN, FRANCISCo, Los AnⱭkleS
2.4t rettung
Vol.
Hallow
- 8.00 nominal
"ERQAR LUCKENBACI“
·July 23.
Ban Tranciado
Has PranešiOO:
Labour Government | september about, the country's spal
Contract. Not traced! delicate conquile balance, will september klajt soon ask for international pricey (1852) controls. Informed sources, said today. A final conference of about
The
for Morkethe'; 25 natio
nations will be held in Lon- don in September to work out
Exchoquar, Dr. Hugh Geliskall, tho was expected to: present similar period last year, an overall formuld for an in-
In
Now Yarit, July 17. House of Commons with a pro- П preliminary report which does not include net international agreement on Ge
many's external
Prices in the goods and oils posal that the International
Ini come for the. · period the Come The representatives who at market here closed today un-Commodity Conference
With the following Washington take up, the que par firat & bhi framings for the tended tho discussions will, now changed? pany
Bald
to 12.00 study.privately the various | exceptions;
́tion of controlatazu woll us quote share. Last year cuttings for other aspects of the doble prob- Castor Beod, per long ton allocations of stringit materials, and traders and they could da the six montha, equalled $2,69 lem until they reconvenein |FOB,
Mr R. Stokes, the Minister { business at that level. asharaAssociated. Pross, September.Router.
of Materiais, would probably-ba | Prass,
Brazilian Port,: 2,40 nomibal,United Press.
Bept,
6 m la gua! For
Ban Fringisco à Los Angeles
vin Kölờ, Nadora' & Yokohama
San Francisco di Loe 'Angeles -
via: "Tokohama.
"Los Angeles:
For full particulars' onli United Staion Lizen Co.... Ceteral Agoniu, Queen's Building, Tel: 28198..