THE CHINA MAIL, MONDAY, AUGUST 20, 1951..
MESSAGERIES MARITIMES BRITAIN'S FOREIGN TRADE
Page
M Slight Improvement Recorded In July R. I. L.
MOM
**LA MARSEILLAISE"
MEKONG”
**FELIX ROUSSEL"
+"MEINAM”
Arriving Teaving
Por
Aug. 27 - Aug. 21-Marselites vis Manila
AVE. 26
Hept. 54
Sept. 20
ĐƯỢC BỘ NANA - THEO ĐI.
́ ́Hest, 15 Marseiller
Kent, 27 N. Alelen & Europe subject to change without notice,
passengers & freight
freight for Portsaid, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, & Rotterdam.
7.
CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong
Queen's Building (gr, floor) Tel. 26051 (3 lines).
PATTISON ORIENT LINE
LIMITED
S.S. "LAURE PATTISON"
DUE FROM
SAILS FOR
Direct Pusan and
Kobe Aug. 23rd
Japan Aug. 27th
12-14 Queen's Road C.
Tel: 25346.
Chinese Agents:
OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W. Tels: 26646, 26127 & 31119
BRITISH
INDIA
STEAM NAVIGATION CO.,
SAILS:
LTD.
S.S. "TAIREA"
NOTICE TO PASSENGERS
BAGGAGE:
Tuesday the 21st, August at 10,00 A.M. for Japan.
All heavy baggage to be alongside the vessel at Buoy A7 by Noon on Monday, 20th August,
EMBARKATION: Will take place on TUESDAY, the
21st AUGUST at 8.00 a.m.
-MACKINNON MACKENZIE & CO.,
Agents.
American Aid Plans Defended
Washington, Aug. 18.
New Policy Suggested For Closing The "Gap"
(FROM OUR OWN correspondent).
YAL INTEROCEAN
Date
m Port Fist Aug. 26th Aug 28th Aug'
"TIBEBAR"
6th Rept.
"VAŇ NEUTAZ”.
7th Sept.
"TIWANGI"
11th Sept.
London, Aug. 19. Provisional figures published this week show that Britain's overseas nak gept. trade position improved slightly last month. With imports. virtually unchanged at £358.9 million the trade "gap" was some £20 million smaller than in the previous months, when it reached the record figure of £148.9 badly-million.
A top official of the Economic said today that President Tru- man's proposed foreign aid pro- the provide gramme
would
"with United States needed security at a bargain price". ---
Co-operation Administration
....
The statement was made by Mr N. Halaby, Jr., assistant to the ECA chief, Mr William Foster, in charge of Interna- tional security affairs, even as Administration forces nil but Congress to approve the full progranime. The House already has trimmed the original $8,
abandoned hopes of gotting
500,000,000 arms and economic ald programme to $7,498,000,- 000.
Senate supporters originally had hoped to restore the funda in the upper chamber but now probably will settle for no further reductions.
The improvement, therefore, was almost entirely due to the increase in exports to £222 million.
It is too early yet to draw any definite conclu- sions from these figures. The rise in the value of
exports is encouraging but it is not yet clear HONGKONG
whether this was due to the rise in volume or in the price of our exports—or both.
On the import aldo there is as or, as P.E.P. puts it, "the idea that we are seems worth serious considera- yet no indication
getting the benefit of the decline tion." in raw material prices carlier this year. All that can be sald with any certainly at this stage is that our import Mr Halaby told a reporter alarmingly high. the original
WOR programme
It might such a good bargain
bill is stil
P.E.P. points out that such a tax could be made to improve the terms of tode without allowing more of the gains thun appears desirable to be absorbed Britain's adverse balance of by consumption, and at the same
time to prevent the attractive of Imports excess
to ness of the export exports-amounted over £080 million in the frs: from diverting resources
months of this car the armament programme, seven
But is that all it would do?
have saved American tax-trade-the
there
I
Ven annual rate of about
maritets
frum
SHARE MARKET
(From Our Correspondent)
22nd Aug.
18th Aug.
Jih Aug,
To
LINES
Ship
"TASMAN"
ARRIVALS
“BOTSIEVAIN" ..
From
Macassar, & Java, Porta Japan
Lapan
1. Africk, Mauritius & Ringspris Auralla Bolawan Doll
- Marsalar, Java Porta & Ringapore
"STRAAT BOENDA" §. Ameries, R. Afrien, Ringapore -♫
"TIBADANE"
**BOISSEVAIN"
Manila
JADAD
́SAILINGS
*TITJALENGKA" "TIDESANZ” FLA
#VAN-HEUT87”-- "GOTHWANGI"
"STRAAT 8ORNDA” MUTHIBADANKI
Singapore, HOMATANE, Thirebon,
Manila, Singapore, . 8. "Aftles
Singapore, Jaya Porta & MACARES? Yokohama & šapan PaICA (
Japan Porta
Singapore, Javi Ports à Marama? Japan Porte
Mantia, Singapore, §. Aftken & Ko
America
Agents: HOLLAND EAST ASIA LINE
ARRIVALS
Ist SEDL.
Tth Aept.T
121 Sept.
13th Sept..
Mard Sept.
Date
In Port 10th Hent. Mid Rent. 2nd week Det
Business done on the Stock!
Zixt Aux. Exchange
this
morning was 17th Sept.-.
Noon Mid Rept. walued at $451,433.65.
the and prices
morning's Ind week Det. iransactions:--
SHARES DUYERS BELLERA BALER BANKS
HX Bank XD 3500 1828
314 East Asia.
INSURANCES
Canion
Union
705 20 755
Underwriters
33.00
НК Fire SHIPPING
335
Asla Nay
រ
10000 1
K. Whorf
10
N. P. Whart 514
600
500
have con-
2000 @ 0.55
Dock... Provident ... 11:
14.80
12 1000 @
ESSENTIAL. AIMS
S'hat Fuck .. Wheelock LAND, ETC.
HK Hotel..
2414
5.03
papers "billions of dollars" in
White the long run.
ke di not say so, he obviously hoped
would be no further £1,100 million. When adjust- cuts. He said that, for example, ments are made for the propor A long-term problem requires France currently was planning tion of the Import bill usually something more than a short- lo produce 12-ton fark des-
pald to British companies in the term solution. The balance' of from $312,000 worth form of freight troyers
and
Insurance payments problem is not some. cf copper, nick.
zine, non charges ele and deductions thing that can be blamed en- ferrous
metals and machine
made for the catimated value of lobis
supplied by the United invisible exports, this indicator tirely on the war in Korea, world DOCKS, ETC.
rearmament programmes arid States and it meant that the
payments defel: at annual high import prices. though of United States
was putting up rate of about £350 million com- course, these things four per cent of the total cost,pared with a surplus of £229ributed to it. The tanle destroyers would milion last year. cost more it produced here be-
There are various ways in cause of higher labour costs.
this defelt could be Under another Denmark with scaled down even
project, the which
It was a problem long before If it is now these ECA is providing
things happened, worth $205,000 carbon steel and copper alloy and powder whle
would hement has in fact chosen is to our stocks of raw materials to processed into $1,125,000 worth exhert manufacturers to step up a dangerously low level. Even of .30 calibre ammunition. Silt their exports and at the same import prices dropped to- another United States grant time to exercise strict control morrow to their pre-Korea level $462,487 will produce $5,271,000 the volunte of our imports.and
over the
the need to rearm грудя of worth
French-made recon- | But. it is extremely doubtful
btful suddenly removed we should still whether exports could be in-be a long way from achieving Baissance gars.
fall extent our declared ·" "If we had to supply all the creased to
economie alms finished military products," said necessary to close the trade which are to restore Sterling to Mr Halaby, "our end item ex-"gap" without depriving the de-full convertibility, and, with the penses would
even too late to eliminate it altogether, though we managed to disguise
of process one way-the way the Govern- last year by running down
of
But
the
of scarce help of
industries go up tremend, fence ously. What we are doing materials and manpower,
Is
Our Sterling Area partners, to achieve a permanent balance in our trade with dollar countries.
giving away some things in re-
Some further measures ore turn for some military power.
to improve Freherefore required We
are providing things.
the terms of trade, and inhibit Europe is providing BOMO things too,
men. exports which compete with the achieved plus trained and cconomic mn-armament programme. chinery."-United Press.
factorles
TEXTILE
SENTIMENT
Wall Street Gets IMPROVES
New Lease Of Life
New York, Aug. 19.
TAX ON EXPORTS? ·
Such a policy has now been suggested by an independen: research organisation known as Political and Economic Planning, whose reports on current
Ik Lind 404
S'hal Land
Humphreys 2. UTILITIES
Tram
Peak Tram
(0)
(N)
Star Ferry
500 3500年 1500 € 3 3000 2435
# 1000 g 0,80
13.40 13.30
10
.3500 75.80 2000 4.20
500 G 6 300 60 41
100414
436 1100 op B0
C. Light (0) 755 7.70 447 @ 7.55
C. Light (N) 403
"TASMAN"
Bhip
"ALMKRRK“. "ALMKERK" "BOONKERK" "HOOOKERK"
HALMKERK" “ALMKEBR" "OOOKERK“ ' "BOOGERAK"
Djakarta A Betawan, Dall
America
Kurape
"Anpah"
From
Europe & Ringapore Japan
SAILINGS
To
Japan via Manila Manila, Blagapore & Furopa Japan via Manila
Maoils, Bingapore &' Europe
KINGS„BORÚBINGTETTU PROSESİ: annis, Arq, 2k18
CODINESEBAR YESURGEONNALAJI, BAD TASTE:FR: Ca
MAERSK LINE
FAST FORTNIGHTKY SERVICE TO:
A R.
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis
BAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "LAURA MAERSK” M.S. "HULDA MAERSK" M.S."TREIN MAERSK"
Aug. 30
Sept. 14
Sept. 29
C. Light (B) 755
1240 m 7.35
6000 g 130
Electric Telephone
-2014 1214
30, 1700 6 30
ARRIVALS FROM U.S.A.
ara
INDUSTRIALS
M.S. "TREIN MAERSK":"
Aug. 30
our
Cement Rope STORES, ETC.
Dairy
12 1100 @ 12
10 500 17% 1712 15.5 15 100 1015
M.S. "PETER MAERSK”.
Sept. 14
M.S. "NICOLINE MAERSK"
Sept. 29
·100 «
Watson
19.70
Ewa XD
2.00
1000 200
Until these two alme
we cannot honestly to have resolved economic difficulties.
claim
Not only should we do every- thing in our power to progress COTTONS
and n towards convertibility satisfactory balance of trade
w under _normal_conditions; we should also any measure
AGENTS:
500 15.40 For Freight and Further Particulars please apply to:-
JEBSEN & CO.
economic problems have earned that might prejudice COTTON CROP
widespread acclaim.
DAMAGE
tax on to do so, A
naris exporis might seem to be an easy way In its latest repori, P.E.P. says to force up our export prices to one way in which the Govern-
New York, Aug. 19. ". ment could achieve the dual sim some countries while discourag
Cotton futures bobbed, up of improving the terms of trade ing exports altogether to others and New York, Aug. 10.
Inhibiting exports which but it would be fatal if such a
and down on the price ladder move resulted in n' loss of Inst week 48 traders kept Sentiment in the cotton textile compete with the defence pro- markets to our competitors-
their
focused atication market improved last week as
gramme would be by imposing a Germany and Japan, for milla
crop developments. noted an incs selective tax on exports.
After alternate rallies inquiries for goods.
It argues that "in theory, such This may mean
this way declines the 1st finished the a tax could' discriminale
would be very difficult to recap-week 15 points Bower duliners and declining prices
conditions.
#
turning
instance.
in Markets lost
Main
With renewed vigour, the stock market last point in the prolonged period of only between producia so as 10 ture under loss favourable selling point higher t week again started punching its way toward 1951 peak price levels.
The rise was hampered by buying boosted the Telephone the railroads, Buyers were price. At the Friday close the reluctant to step forward while stock returned a. yield of a railroad offelals were expressing dilde better than 5.5 per cent their keen disappointment over on the $9 annual dividend. the amalinesa of the recent
During
the freight rate increase, and while freight business iselt was focused their
first one falling off.
other.
Oils
attention 011 stock and then an-
experienced over the past several drive out of the foreign markets
months,
05
close
are
STOCK EXCHANGE
· as re-
on
and
1
to
attention was "centrod the products of
Texas ths, detlers say.
Industries which
on the
Crop situation. needed for armament pre-
The continuance of exception- However, the inquiries were
Ally hot and dry weather act translated into any appreci- duction at home, while merely
assuring that other Industries Main flem of interest in the brought multiplying complaints abis sales. Prices on prin: cloths,
enough to
to past week's news from the Stock
of, crop
deterioration. Some sheetings, and other constructions charge prices high
that to move lower. One reuse of foreign exchange,
earn the greatest possible amount Exchange, is the fact that in
crop share prices. texas
students. thought tended to
but also dustrial ordinary
losses
bring the for the apathy of buyers, milf
might by the Financial
crop as much as 1,000,000 bales men said, was the fact tha: the between countries of destination as shown
August Governmen: cotton so as to limit exporis bringing Times Index, now stand higher below the Government's August 8
desired, currencies in than they did immediately be estimate in less
of
bales, 5,000,000 week buyers crop report was
order to leave mere goods for fore Mr Gaitskell's nounce although offer: observers felt expcotations.
hard currency markets."
ment of dividend control.
that the damage suffered in! One leading producer of to- bacca cloth reduced prices on
This recovery
is not
that State might be made up But P.E.P. admits that in that consideration to 97 cents on
perhaps through a larger production There was
Woll still that
the other sections of the bell Street belief, held by ono
got a lot of attention
poundage basis compared with practice discrimination between markable as it may
be seem. Investors are by nature would probably countries
United PreKS. after the New York Stock Ex- $1.06 a pound previously quoted, segment of the financial com-
with Britain's people who cannot bear to see munity, that the ball market is change had reported that first and he decline simulated some compatible
this long dormant existing undertakings and would money standing idle. They have weakened by the
half earnings of 25 oil and gas sales in lack of
be likely to arouse the strongest desided, therefore, that in th
absence of other profitable vigorous support. Nevertheless, companies listed on the Ex-section of the market,
The popular 80-print cloth opposition, particularly from the channels of investment they can change had increased their pro-
do na beiter than hold on, and fits by 41.7 per cent over a year cold in fair volume for the four Unlied States.
Crude oil production cur- quarters at 20 cents a yard :
argument in omell this is what they have in fact mill level. of 00 stocks advanced 70 cents rently is at an all-time high-
Wool
quarters against export taxes is done. experienced that the result would be un-! goods on the week and stood at $90.00 9.8 per cent above a year ngo.
another qulet week. Royon favourable on balance
The news from Persia that Mr since cenke at Friday's close.
Berguet
Stokes' proposals may be turned mining
tone the goods developed a stendier wag
Inxos would provoke retaliation. weck's most active issue, up during
week, the first P.E.P. arguos, on the other hand, the markets towards the end of down cause some nervousness in one-quarter at 1-4 with 187,000
in many that the producers of Britain's tho
week, and this shares, traded. It was followed weeks. There was more activity Imports are already charging the flected in some fails in the oli This industrial component
by National Power & Light, off
In taffetag which moved up as highest prices the marke will average advanced a strong sent ths at 1-, Radio Corporation much as, 104 cents, 2. Marocated bear. But they admit that it is negligible.
shares market, but selling wad but the railroad component moved contrary to the demand op 1-% at 23, International / the previous week.-Associated no: beneficial to gain
· progress was made,
The Associated Press average, ago.
That
Is only 90 cents away from the
1951 peak.
j
and lost 30 cents.
Since the low point of this year, June 20, the market ad- vanced five straight weeks. fell back, and then resumed the climb last week,
The rise of American Tele phone last week by 4-3/8 to 162-1/4 excited unusual In terest. It made a new 1951 high On Friday and was the 11th most activo issue, and the
Telephone % at 17, Warner Brothers Pictures up at 14- 4-Associated Press.
Rubber Futures
In S'pore
Singapore, Aug. 18. Prices of rubber futures closed)
eyes of its more than a million today as follows:
stockholders followed the nd-Number 1 rubber, per ib."
vanco.
September October Tho32,100,104 shares. of
Number 2 rubber, Augurt - 131-137 common." slock-outstanding Number 3 rubbery August. rdded $140,729,592 to their Number 4 rubber, Augusti
Boot rubber, unbaled. nited volunéVANA
origin lack crepe uspi Waller Streetart
Joe); palettespeake
144-149
103-107, Fremst
the
encouraging
Preas.
note
Abaca Expansion "Programme.
The
....
an im-
WORTHI CONSIDERATION
was re-
Exchange Rates
Business was done in the local smolalað exthem.rd market thi morning at the following raten:
13.00 Stering note (per £11
A35 US Dollars (per $1). Indonesia uliders (par 9am tieals (per 100) Singapore (Strait FIC plastres (per 100),.
1.30
20,00
1000
12.00
Pedder Building
Tel. Nos. 86068-0.
M.V. "LA MARSEILLAISE" Will sail for MARSEILLES
Via
MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI and PORT-SAID
on
Wednesday the 22nd of August át MIDNIGHT
Passengers are requested to board the vessel with their cabin baggages on Wednesday the 22nd of August between 5 PM. and 7 P.M.
Baggage. Room and Hold Baggages will be registered at Kowloon Godown No. 59 (No. 2 Gate, Canton Road Entrance), on Tuesday the 21st of August between 9 A.M. and 4-P.M. and on Wednesday the 22nd August between 9 A.M. and NOON. No baggage will be accepted for Registration after this time.
CIE DES MESSAGERIES MARITIMES A LIMITED COMPANY IN CORPORATED IN FRANCE
Tel: 28651 (8 lines) Queen's Bldg.
Pacific Far East Line Inc.
Fast Regular Trans-Pacific Service
DIRECT
SAN FRANCISCO, LOS ANGELES
mediate advantage at the cost of intended to take part in the Son The announcement that Russla increasing uncertainties of in-
Francisco Peace Conference led temational trade.
to some shore falls in Japanese bonds but · these were mostly recovered later in tho wock It points out however, that an when President Truman made it export tax avolds the danger } clear
States that the United
Interference associated with an improvement would break no Mr W. Stuart Symington de- in the terms of trade through with the terms of the peace clared recently that the Ro- an increase in prices charged by treaty.
export
Other news afk
A
affecting construction Finance Corpora- exporters. If higher
ita prices
led to an increase in, ex- | tnarkefe (was the announcement flon expects to completo
bo
of higher a prices for stool, oDERT LUCKENDACIT” production expansion porters' costs, which might
dimcult or impossible to reduce followed in the later by the
* L LUCKENTACI” programme in 1052
Me: Symington testified be in future, then in less favourable decision to return to the war-
of allocation for TLSING fore a closed beton at the conditions. It would tend to time spacin
Abaca
Washington, Aug, 10,
House Appropriations Commit- weaken the foreign position of steel supplies s
The
too last June and hit usumony Sterling Taxes on export on Announcement of the terms of ParONO Was released, today Mr the other hand could be res the forthcoming British, Guinnd p Symington hold cho ngorby now moved or rend whenever i Loan caused some weakness in Bhu 20,000 acres under cultiva scomod desirable to do so.
to tion, but hopes 16 expand As a short-form solution this became firmer at the end of the 50,000. In 2190 g:-- United Prikad proposal has portalo
gül-edged prices but the market
Vouch
NEW YORK-OHICANO, DETÉBIT TÖKONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES
From MAntivi
| Strašle
Sept.
Sept.
| San Francisco"-&è, Los
Ban Trancisco
Sept.
Sopt
San Francisco
San Francison
San Francisco
call United States Lanos Op
vla_Yokohama:
|_ Back-yFrancisco
Ban Friticised.