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European Cartels
Re-created
With
ERP Assistance
Blackpool, Sept. 4.
An American trade union leader said here today that the Marshall Plan had helped re-create the cartels of Western Europe to the detriment of the working people. -
JAPANESE
TRADE
af
Mr Charles J. McGowan, fraternal delegate from the American Federation Labour, told the Trades Union Congress' annual meeting that Uus was not what American labour had expected when it poid higher taxes.
WITH INDIA supported the Marshall
to
"Labour in the United States Plan, with everything we had. thinking that we were not only economy pl revitalising the
that. wo were Europe but opening the door to the advance- ment of wage earners," he sak.
Tokyo, Sept. 4. Prospects of trade. be- tween Japan and India are most promising, according
Mr McGowan added: "Re- Miratsuka, Yasuaki Japanese member of anctionaries stood on the door of Congress and repeatedly alleged joint United States
that our taxes were going to Japanese investigation further social nationalisation In
re: Englant who has just team
tour of turned from.... a South-East Asia,
"The truth of the matter 19 that our taxes have Rone to re-create the cartels of Western Europe to the Cetriment of the working people."
Mr Miratsika was quoted by the Kycle news agency as saying that India had surplus iron ore for export and was interested in Japanese supplies of rail freight sident locomotives and other cars, transport equipment.
India could start exports Japan if Japanese refinery equip ment was made available, he said,
Mr Mitalsuka said that Burma wanted Japanese help in develop- ing new kad and zine mines.
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 5, 1951.
Britain High Cost Of Living 9. Lue
May Cu!
Dollar Imports
London, Sept. 4.'
Britain, facing serious. difficulties in world trade, may soon have to deelde j = new cuts in dollar imports,
This was learned, from In- formed quarters tonight as the the Exchequer, Chancellor of Mr. Hugh Gait kell, flew from London for the International Monetary Fund
and Work Bank meetings at Washington.
sterling
In Canada Leading
To Political Storm
Ottawa, Sept. 4
ROYAL
Ďale
In Port
sch Bapt.
tie pl,
2irt 'Repi."
Brut Bet
7th Sept. 6th Oct.
A major political storm is brewing in Canada over the high cost of living. There are plenty of signs that the Liberal Government, in power since 1935, will be fighting for its life when Parliament opens on October 9.
Political commentators here are already referring to it as the forthc coming "Battle of the Bulge" the bulge being in the cost-of-living index.
The dollar surplus of the Many people belleve the fate of the Govern-
area slumped from $380 million in the first quarment in the next election depends on what success ter of 1951 to $54 million in the it has in coping with the Inder's apparently in
second quarter, and is expected
to
become a serious deficit in exorable advance. the current quarter.
Moreover, the first instal ment of repayment and interest on the American loan of $8,750 million is due at the end of this year.
taxes.
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning Was prices and the morning's trans- actions: SHARES BUYERS SELLERS ŠALEB
DANKS
Noon
The Government has con The situation, it is learned, sistently resisted a growing de is causing the Government the concern and some mand for price controls, claim-keenest
of the Cabinet Dre ing that they would not work. members Instead, it has sought to punc-advising yielding to, the clamour It amounts to about $120 ture the inflationary balloon by for price controls; even against million, and is a subject that imposing higher interest rates, the Government's previous de-
policy. Mr Gaitskell in likely to discredit restrictions and, heavier clared
That is u ticklish decision. cuss in Washington-Reuter.
It the Government decides on EMPIRE MEETING
"Too many dollars chasing too price controls, It,will be assailed valued at $652,025.00. 4. Ottawa, Sept.
Low goods" has been
the for not taking action years ago. The
queglion of Common-Government's diagnosis of the If it refuses, the fat will be in wealth Sterling
ATC restric-
Inflationary situation, which has the fire and the biggest Parlin tions against trade with dollar
mentary been badly undermined by the me would be re-fect that there are now more 20 years will ensue,
flare-up in the fast area countries opened at a meeting Commonwealth Finance Minis-goods than ever in the shops be-
cause people cannot afford tere in London next January,
buy. the Canadian Press learned to- day.
From "February to July this The whole field of general year, the Government's official
relations cost-of-living index has Anancial trade and between various member coun- from 175:2 to 187.0 (1039 equal-
would tric:
probably covered.
Particular attention was ex pected
be given to the question of a relaxation of the sterling area restrictions against dollar area trade--Reuter,
to
of the
NY Cotton
Futures
10
rlsen
A great many people believe that the Liberal Party's future is hanging in the balance.- Reuter.
beling 100). After every monthly EXCHANGES
New York, Sept. 4. Prices of cotton futures closed today as follows: December
March (1952)
May
July
October
December
34.31-34.22
NEW ORLEANS MARKET
34,41 34,40
31.90
2296
37.82 blu
October December
March (1952)
May
United Pre
34.79 34.22-34.99 34.41-34.42 34.41 33.09 bid
United Press.
Juty
LONDON TIN MARKET
London, Sepi. 4. The tin market opened quie.-
cash
ly this morning. Turnover was 15 ouns, Including 15 tons for Prices' closed at the end of the offlain? morning session as follows:-
Three-months Business done at Settlement
Spot tin. buyers Spot tin, sellers Business done at
Three-months
11:1, tin,
0472
950 805 Buyers ellers 29715
000-595 050 -United Press,
Dockers'
Irish
murling.
Decision
of
IN NY
Government rise,
spokesmer announced have optimistically that the peak has been reached. But every new publication the monthly index has reveale a higher level.
Food, the indispensable item in every family budget, has risen 25.3 points since February. Despite wage increases, there is no doubt that inst Catholic families are not eating as weil as they were two years ago.
The greatest food Increases have occurred in such staple commodities as mcat, milk. eggs, fresh fruit and vegetables. PRIME TOPIC
New York, Sept. 4.
US$ 0.04%
Canada (dollar) England.official ***"unofficial
J
30-day futures 90-day futures Australia (pound) New Zealand
(pound)
South Africa (pound)
Belgium (franc)
Denmark (krone) France (frane) West German
Norway (krone)
Middle East Egypt (pound) Iran (rik) Iraq (dinar} Turkey (lea)
2.79-15/16 2.48bid/
2.0 arked 2.50-1/10
-0340
HK Bank
+
1545
INSURANCES
East Asia..
Union Underwritera HK F DOCKS, ETC. K. Witarf
19th Sagt.
12th Rept,
12th Repl
23:0 Repl
28th Repí.
jel Get. 9th Oct, 13th Oct.
Date
4th Sept.
17th Sept. 27th Sept.
18th еля
9th Sept
Sept. Верв
20 1330
41350
20 3350
120
770
30 @ 770
02.0
4.10
135
500 515
N. P. Whart 5.35
14.75 15.10 Provident .. 12
Wheelock LAND, ETC.
HK Hot..
+
6.00
1.15
HK Land
S'hai Land
Humphreya 10%
UTILFIXES
Tram XD... 14.10 Peak Tram
(0) 10% 101
Star Ferry
600 14.20
500 1214 1000 125
500 68 1919
100 @ 6
0, 1000 A
500 48 100044
200 ♫ 10123
200 m 20
41 331
2,80-11/18 22311
2.79%
C. Light. (0) 7.70 7.90
500 m 100,
1500 W 7.00
2.801
300
01991
500, 7.50
1455
.0025
e. Light IN) 4.05
5 2000 4.85
2000 63 · 4.90
Dentchemark
4.20
< Light (B) 7%
3000 7.53
Holland (guilder).". Italy.emciat
2030
1000 * 7,50
110034
5000 € 7.30
1000 1.00
.1403
100 T 7.35
.0265
Electrte XD. 1314 8934 1100' 33
.0935
2200 ár 33%
2402
100 2311⁄2
1000. 3015
2.08!
£125
2.01
Telephuric INDUSTRIALS”
1212
13
Cement
.6375
1000 134
Lain America
23001
Argentino-official Brazil (cruzeiro) Bolivia boliviano)
.0718
3550
do
0130
Rob
1741824
4025
STORES. ETC.
1.00
Dairy
1269
.0000
.4125
2003
Far East
.2102
2030
3750
.3040
3395
to USI
The cost-of-living Index is no
Portugal (escudo) longer a mere mathematical · Spain -(pesētu) formula for. economista and | Sweden". (krone) statisticians. It is the prime Switzerlarid-free
tha conversation in topic of coffee houses, on the trams and at public meetings.
Korea and the Kremlin aro secondary problems as Canadian families grapple with the prob- lem of making ends mest.
Political
Chile-free commentators hesitate
Columbia (peso) to escribe
Cuba (peso) defeat of the Government
Mexico (peso) in four recent by-elections Peru-free three of them were traditionally Uruguay (pes)
Venezuela (bollvar) Liberal seats to public re- sentment over high prices. This
not
the
Liberals has galvanised Opposi- Hongkong unprecedented setback for the Pakistan rupee). tion parties into action and the Netherland
East Indle in Singapore' hammering has now begun earnest.
Japan
G
Normal summer holiday quiet has been broken by what amounts to virtual election campaign, Government speakers are touring the country to offer The defenco that the rise in living costs is due to world conditions and beyond Canada's power to stop.
300 yen
Income Tax
Exemption
Ship
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8%KING'S = BUILDINCESSFULİPHONESTE SÁDIA TO 2017.
FÖRINGSTELAGENESTRI, CONNÁLGUY RÐAÐIG. 115, HM, path
BEN LINE
1000 7.90
7.30
332 1500, 13:2
1000 13.10
1000 13.10 1500 or 13.10
10% 1614 2000 G 10%
500 10
·500 @ 1814
FAST SERVICE TO UNITED KINGDOM
AND CONTINENT
BY
S.S. “BENALDER“
LOADING HONGKONG 7th SEPTEMBER
DIRECT FOR SINGAPORE
THENCE
"LIVERPOOL, DUBLIN, HAMBURG,
AND ANTWERP,
*
W.R. LOXLEY & CO., (CHINA) LTD.
Tel. 34165 & 88710.
S. A. C.
1. Crawford 24
Watson
*** 1016
COTTONS
20
300 101
400 1014
"ats 1001 62.40
York Building."
The Rubber
Markets
London, Sept. 4..
Prices of rubber futures eidsge
4534-463
4574-76
1422-47
April/Jung
4312-44
today as follows New Delhi, Sept. 4. Opposition speakers are mak
The Government of India has Number 1 rubber, in conts
per lb. ing the most of the situation in attack. Mr George Drew, the decided to exempt from income geber
tax the pensions of retired November leader of the Progressive Con-officers of the Secretary of State Beermber Dublin, Sept. 4. Dockers at a mass meeting servatives, who swept the last services and high court judges tuber/December
4012-14 here today decided to join the four by-elections, is accusing who are now living permanently priarch (1952)
the Government of a fatal "do- outside India but were in ser-
United Press... SINGAPORE MARKET Irish scamen's strike unless the dispute was ended by Saturday nothing" polley in time of crisis, vice after the now Indian con
Singapore, Sept. §. 1. stitution had come into force on 'CONTROLS ASKED
Prices of rubber futures closed. Their decision has been ap-
January 20 last year.
A Finance Ministry com today as follows:- proved by the Union Executive. Although the Progressive
dockers would Conservative Party is the tradi-munique today said the Gov- Number 1 rubber, per 19. Almost 1,000
decision followed September
October be involved in a strike and the tional champion of free enter-ernment's
liberal interpretation of cer- priso and business port would be paralysed.
Mrtain articles in the Indian con- The seamen's strike began Government
stitution, assuring, these officers when a Inbour court recom-Drew is touring the Liberal mended wage increase
of cervice 9/4d. a week. The Union had wked for 23/0d-Reuter.
a
without
restrictions,
Havenber
Number
*
rubber,
4
rubber,
rubber.
September
September
of stronghold of Quebec demanding and Judges the same conditions Number 3
Bs: before thought Number
International New York Sugar
Mr McGowan, who is Pre-
of the Brotherhood of Boiler-makers, Iron Shipbuilders and Helpers of America, said that he would raise this question at the forti coming American Federation of Labour Convention 教 Son Francisco.
TRADE WITII REDS
Futures
price controls on essentials. there is no speelfle mention of Mr M. J. Coldwell, the leader exemption of pensions from in-
the Socialist Co-operative come lax in these. Commonwealth Federation,
of
13
telling his meetings that Gov-Router.
ernment inaction will allow the cost-of-living index to go to 200
articles.
September
not rubber, unhaled
Tlack": crepe No. 1 pale crepe
end of the year, causing U.N. Economic Exchange
widespread suffering
among
New York, Sept. 4.
closed World, sugar futures
2 to 7 points higher, today with sales toalling 78 contracts, ers whose allowances are geat-
Prices closed today as follows:+ ed to 1932. price levels ate January(1052)
March May July September
Spal
5.45 traded
5.4 nominal 5.06. United PTON),
In Industrial policies, he said, the Briikh and American or ganisations were not far apart Japan will import US$9,000,000 but in the political fickt there irs worth of machines under the now were substantial differences
trade their methods, .. Germany Jopan-West agreement, according to the Mr McGowan appealed to Japaness International Trade and Britain to stop all trading with the enemy" so far as was Industry Ministry.
reasonably possible. This would restore the solidarity of feeling of the American people,
In the United States, he said, authorimtion totalling they were somewhat disturbed 200,000 tor
low-income families,
Military andy!
elvilian pension-
ad
140 -130 -1476-148 145 -145
14415-16555
139-140
130 135 14092-15015 1-113
* 166_ -173.
United Press,
Rates
Every TUESDAY is SAC DAY to BANGKOK and DIRECT FLIGHT to RANCOON BANGKOK/PENANG & SINGAPORE ON WEDNESDAY, BANGKOK/RANGOON & CALCUTTA ON THURSDAY BANGKOK/SAICON ON FRIDAY
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Booking Agents,
Tel: 56416
AUW.PIT SENG'S TRADING CO. LTD.
10, Pedder Street, Tel: 26733
Council
Gènova, Sept. 4..
Busters was done in the, looit unoffeli exchango market 3719 morning at the following rhien:-*
19.00 Sterling note (per 1) 'U.S. Dollars (per #1)
0.01
3.10
$20.00
1.170
340 Queen's Road, West, Tel: 36204
12280
SAD nomina mittedly suffering considerable Mr T. T. Krishnamachari Indonesia vuliders (per 100).
Eingapore (Birslin) 6.3 nominal hardship, Thousands who have (thelay was today unanimously glam tenis (per 100) 545 nominal retired on modest Axed-income clected acting chairman of the pic piastres (por 100)
Economic Committee of the annullies oro in dire straits,
Labour unions are gearing for United Nations Economie and new rounds of wngo boosts to Social Council.
and WesterT! Both Eastern meet
the present
conditions,
the 18-nation. on that these delegates Funds For Formosa Manufacturers, claim
aigher | Council
supported Mr. Kr do nothing but bring Talpo, Sept: 4.
candidaturs and Econcrilc Co-operation costs and prices pre-paid tributes to the role he has The
All across Canada the pala Administrations: Headquarters
Council's pro- has issued a new procurement sure is tightening and the ter- played in
ald for Felon' rising.. `No, one profesoda toʻ coodingston AN ADULT
Mr Krishnamachari replaces Mri Gaston Byskens (Belgium) who la temporarily absent
from: Geneva,Router.
cni
BOO the end or predict the even
This will be one third of the 1otal volume of goods to be -imported from West Germany under the trade agforment which
that while the Americans were against the July and August tunt outcome, was elgriest on August 3.
Trade with West Germany in oren 10,000 casualties in Intenim allocations, the DCA the United Kingdon and China Mission announced today,
4
expected to show -o favmurable name
of her allies were ill heuter, though LONGER TILBYK balance. A large volume of tex- trading with the People's Gov
Itile goods and whale all is to be ement of China in critical war Copper Strike Move
median materialNeuter, babaangen
shipped by opens a
Included in the imports will be
•Machiner-engined."
duction of rubber a dude, New York Bers
ptical tristro Coprá
BTWOKLISII, DECISION.
Adding to the Government's blem tho' duct, that the inco i Minister, Mr Abbait, a surplus of only
(the) firak
"ind
CHIANG HUAT HONG
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