THE CHINA MAIL, TUESDAY, SEPTEMBER 11, 1951.
MESSAGERIES MARITIMES Loan Offered SUBSTANTIAL LOSSES AS
1
MOM
FELIX NOUSSEL" *"MEINAM"
Arriving Leaving
..Hept. 14
22 "mlag"
**LA MARSEILLAISE" ..Oct. 23
"OYONNAX”
E
Mararlien
For
Bent. 12
N. Aftien & Europe Hept. 23 Oct. 21 Kobe & Yokohama
Oct 35 N. Africa & Europe ..Dkt. # subject to change without notice,“
passengers & freight
freight for Portsaid, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, & Rotterdam.
CIE DES MESSAGERIES MARITIMES P.O. Box 63, Hongkong
Queen's Building (gr. floor) Tel, 26651 (3 lines),
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S.
HULDA MAERSK"
M.S. "TREIN MAERSK"
M.S. "PETER MAERSK"
ARRIVALS FROM Ú.S.A.
M.S.
"NICOLINE MAERSK"
M.S. "SALLY MAERSK"
M.S. "LEXA MAERSK"
To Pakistan
Karuch, Sept. 10. Australia 122. offered Pakistan a low.; of £2,000,- 000 for the first year of
the six-year Col
Colombo "Man. A similar offer is expected from
om New Zealand.
This was disclosed zero today by Pakistan's Depaty Finance Minister, Ghaya- suddin Tathan, who said negotiations were proceed- Ing with Australia and i that the offer was hoped would be reailsed shortly, --Amociated Press.
NY Cotton
Market
New York, Sept. 10. The cotton market ave
In tho good account of self face of a new surprising Gov- wag ernment crop report. It
indicated that this officially yield on September 1 at 17,281,- 000 bale came 25,000
hales more than the previous Gav- ernment estimate.
The market opened up 2 to 11 points, then rose to maximum gains of 18 to 26 points, cased 37 to 48 points from the highs agalh finally to but steadied close off 2 to 13 points on the
Spor
December
RESULT OF MINE STRIKE R...
IN AMERICA
New York, Sept. 10.
Domestic copper production was well on the way back up to pre-strike levels this week-end, but the full impact of the walk-out still is at least a month away.
Competent
industry authorities' estimated that something over 40,000 tons of mine output was lost because of the strike by the independent International Union of Mine, "Mill and Smelter Workers, Substantial tornages of lead and zine also were affected.
HONGKONG
SHARE MARKET
(The strike began on August was 27 and lost Wednesday ordered halted for at least 80 Truman days, when President
In- Invoked the Taft-Hartley Junction procedure).
Silk Talks Opening
In London
Bilk
London, Sept. 10.
from -17 executives
#
countries assembled here today to discuss Japanese competition in the silk trade.
Among the nearly 200 de- legates, attending British Government reception märklig the opening of the International were S. Yoshida, Silk Congress
delegate, an Japan's national 13 other Japanese silk men, ' ́* The Japanese will be united with other delegates
in a encial wlúrl of silk, satin, jewels
and during the next 'four days. The resulting air bubble in There is banquet in their
probably honour in London's copper supply lines.
medieval will take a month to
reach Guildhall tomorrow; # gata major refineries, trade spokes ballet performance at the Royal man said, and that's when the Opera House, Covent Garden, big squeeze will hit the mar
.on Thursday which will ket.
by 4 champagne followed The serious
copper deficit
оп Prod
Friday, rupper cuts glittering silk ball will be held may force even sharper. In copper consumption for in fashionable Grosvenor House civilian products. The Defence Hotel. Production Administration an- But delegates are unlikely to nounced that
allotments of
SO united when French, copper for consumer durables Italian and Delish speakers get it the last three months this down to problems of raw silk
(From Our Correspondent)
Business done on the Stock was this morning valued at $470,035.35. Noon The morning's
Exchange
SHARES BUYENS SELLERS BALES BANKS
day.
Prices closed as follows: ----
35.15
34.40
prices transactions:--
and
34.45-94.40
March (1952)
May
34.59 34.50
НК Denk .. 1823
1310
1540
July
34.18-34.17
East Asia
121
Sept. 16 Sept. 30
October
33.17-33.10
700 779
December
Oct. 16
100 0 01
Sept. 20
Oct. 20
Nov. 7
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
Tel. Noa. 86066-9.
Appeal To Reduce
+
Restrictions. On
Foreign
Exchange
Washington, Sept. 10.
President Truman today appealed to the financial leaders of 50 nations to reduce restric- tions on foreign exchange which he said were stifling world trade.
Bonk
The President was formally "We are not joined together defence purposes," opening the annual meeting of purely for
for he said. "We do not want just the International Reconstruction and Develop to preserve things as they are. ment
the International Our great object is to secure and
and create better Monetary Fund, which is being the peace
Finance lives for all the peoples of the the
of world."--Reuter. Governors
attended by
Ministers and Central Banks.
President Truman said that since the two organisations had Just met, the free nations of the world have had to join them- selves together and spend ол their energies much of building
military their up defences for the protection of the free world against aggression. He emphasised that these firin ciforta must have economic foundation and the contribution which the work of the Bank and the fund could make to this foundation.
met
Empire Experts Meet
are
on
United Press.
TEXTILE MARKET
New York, Sept. 10, The cotton textile marice! with Interest was quiet today focused on
Government the cotton crop report, The Depart- men of Agriculture estimated the 1951 cotton crop da September. 1 at 17.281,000 bales. This was 25,000 bales above the August 1 forecast and brought further declines in the cotton Buyers felt futures market.
of
this might increase pressure on cotton goods values,
The wool goods market was quiet as dealers awaited an- nouncement of Spring prices by additional mills. Wool prices in Australia continued to sag competition reported only fair.
with
Omeiul
INSURANCES
Untun
FFX Fire
DOCKS, ETC.
K. Wharf
N. Pt. Wharf 5.80
Dock
Provident Wheelock
LAND, ETC.
ik Land
HK Hotel
UTILITIES
Tram XD
Star Ferry C. Light (o
器
14.10
600 27
3838 % 388E ARE 8 SABBBRED
trimmed to 54 scar will be per cent of the amount facturers used in their Koren base
period,
#
manu prices, labour costs in Japan and ore-similar topics in the closed edbusiness sessions beginning to-
compared
with 60 per cent in the present inorrow.
brass
about
quarter. Use of aluminium in Many Western silk producers
frankly worried the coming quarter was cut to are 1046 per cent then from the pre- Japan's future role in interna-
sent 50 and steel was cut to 58tional markets.
Other topics. due to come up per cent
trom 65. DPA R150 told
and for discussion Include the im- wire mills to give preference provement and standardisation to military and Atomic Energy of yarns and the production of Commission business it they soap to prevent the yellowing cannot all all priority orders of silk-Associated Press, placed with them under Controlled Materials Plan.
C. Light (N) 4.70
Light (N) 7.05 724 1600 @ 7.30
33 331 Peetrle XD.
Telephone INDUSTRIALS
Cement Hope
4.70
000 ir 1
30063
BIG DEMAND
the "VERY SATISFACTORY"
output
ROYAL
Date
In Fort 19th Sept.
11th Sept.
Sich
19th Rent. Hejal. 17th Hept. 29th, Sept.
Sed. Oct. Det.
100 Ort.
12h Rept,
10th Sent.
16th Nepl
21st Regil.
2nd Oct.
4th Octo
Bib Oct..
Date
13th Sept. 4th Oct.
Ship
INTEROCEAN LINES
ARRIVALS
**TIWANOI "ATRAAT SOENDA“
"VAN HEUTRZE
- TSISADANG" A
"ТАЯМАЙ **T217JALENGKÀ”
*TRAAT
MAKASHAR" "VAN BEUTR2":
"TSIKAMPFK" "TEGELBERO":
*TJIWANGI"
Mincansar, Java Porta & Bingaparo -8._ Amerien, ^R.- Atyles. Ruigapõis.
Atralia & Belawan Dell Japan
Belawan ji, Penang ́& Sinærpore STAPARENT, JAVA 1'ora & Ringapore
Holland (Malden Voyage)
Japan.
s. Atilen & singapore
S. America, K. Afilea, Singapore
Mantia
BAILINGA
Japan Porta
To
Singaporr, Java Poris & Macanał THAAT BOENDA" "Japan Paris*** YAN BEUTRZ" SOPHISADANG"
→TSITJALENGKA”
RTRAAT
MAKARBARU L "VAN HEUTEZ" "TAKAMBER"
**TEGELDENG”
Simport, 4. Atrien & 5. Ameries Kingapore, Java Parts & MaÖKKRAT
Japan Paris
Singapore, Penang & Belawan. Delk Japari Porte
- Japan Ports
Agents: HOLLAND EAST ASIA LINE
Shin
"ALMKERK“
ARRIVALS
"HOOOKERK 2nd week Oct. “ARENDEKERK”.
12th - Rapt.
Jik, Oct.
- “1000XKRK"
Mle Ort.
BABKH
From
Sapan
Europe Singapore
SAILINGS
To
“ALMKERE".
"ARENDSKEOK“
Manila, Stoessora & Karope. Manila, Bjngapore & Egropio Japan Vik Manila
KING'S BUILDING, LEPOONES: 28013.10
Canadian EXCHANGES
Aid Scheme
For Asia
Ottawa, Sept. 10.
IN NY
Closing rate: Canada (dollar) England-omelal
New York, Sept. 10.
unofficial
France (franc)
Deutchmark
....160.94-11/10 2.30-30/15 2.45 bid 2.48 asked 2.30-1/53 1.001.
London, Sept. 10, The Silk Executive Coin.! mittee and the Directors Boar]
Canada has agreed with India'
30-day futures" and of the third International Si and Pakistan on the principles Australis (pound).
90-day futures Demand for both lead
Lere today and under which she would extend New Zealand (pound) zinc continued to run far abcari Congress mot
what officials described economie aid to the two, Asian South Africa (pound) of supplies. Trade sources re-mado
members of the Common-Delgium fronci ported, for example, that ce as very satisfactory atTangs-
for refined ments"
the General As-wealth, the External Affairs Denmark kroner for domestic 3quests
lead, for delivery this month, sembly of the Congress which Department announced today. German
will be ex- The assistance, on Tuesday. totalled around 100,000 tons
opens at 0930 GMT on
George Elbogen, President of tended under 145 Colombo. Holland guilder) while estimated U.S. -for. October is only 20,000 tons. the American Silk Couril and Commonwealth Plan for economiclat
Norway, ikronej of the US. de ration, mic ald to South and South-Portugal (cocuse) Some sellers believe, consu-leader
Spain (peseta) mers are trying to fill all their said Monday's two meetings East Asia.
The Canadian Parliament at Sweden Krone) simply preliminary needs with domestic lead be- were
session voted $25 Switzerland-free General A- the last under a cell- cause its price
sessions to the ing, whereas a big portion
inillite, of which $15 million MIDDLE EAST of rembly.
Egypt (pound) India Bod $10
Iran (rist) their lead in the past was in- "There were D develop is going to
Iraq (dior) million to Pakistan. ported at higher prices. Partments. We were simply making of the recent extraordinary de-arrangements
The principles provide that Turkey (litr) wer and deciding on mand for zinc was attributed to the same cause.
the details for Congress sessions Canadian aid will be provided. LATIN AMERICA
Brzi (erześro); ka which
other on on outright grant or Argentine meial Mr start
loan basis, depending on the Bolivia (boliviano) metais Prices of all major
Elbogen sald-United Press,
nature of the projects to be Chile-free held steady. The Reconstruc-!
Corporation tion Finance
Its tin
23
13140022
173 2074
STORES, ETC.
Dalry
10% 1012 200
1015
Watron
2.50 2.00 2000
The rayon goods market was quiet-Associated Press,
BEST SINCE 1937-
Washington, Sept. 10.
published estimates
L. Crawford 281⁄2 forecast a cotton COTTONS crop of 17,291,000 bales this Ewo year the United crop since the 1937 record of 18,040,000 bales,
here today
States' bazl
This indicates that the severe drought in Texas, the larges:: cotton producing State, would not affect total production. Loss in Texas has been countered by Increased production in other States.
The Government has already indicated that because of the big
prospects, export crop quotas are no longer necessary and friendly nations can buy as much coiton as they wish. Restrictions will be relmposed only if there is a marked fall
prospects.- production
In
Router.
Advance In
NY Stocks
New York, Sept. 10.
advanced The stock market strongly today with just about all arcas Joining in the rise.
tc
accom-
The
20000 255
Rubber
Markets
London, Sept. 10: Prices of rubber futures closed today as follows:- Number 1 rubber, in-centa
per lb. October November
40-491
50 -30% 0012-15
December
404815
October/December
48 40
January/March (1053) -... April/Jung
+40-404
942-13 ****United Pressi, SINGAPORE MARKET
Singapore, Sept. 10. Prices of rubber futures closed today as follows:-- Number 1 rubber, per lb.
September
October
November. KAYAAN
rubber.
Number
September Number 3 rutber,
:September
Number
4
rubber, September Spot rubber, unhaled Black crepa
No, i pale crepe
170-171
103 -109
{
in quotation unchanged at $1.03 agency agreed u New York, even
though
pay Bolívia $1.12.-pound for the next 30 days. Bollylan been halted shipments had
since May 31 when the old tin contract expired.
LATEST PRICES
Major prices:
1
non-ferrous metals
Copper-24.50 cents a pound, delivered, Foreign, 27.50 cents. New York,
tomorrow,
West Germany
And The
World Bank
A
an
Columbia (pesa) Cuba (peso) essentially Mexico (peso)
financed
Projects commercial nature, such as for Perustree
Uruguay (paso), private industry, will be Venezuala (bollvar) cilgible for. Joans; others of FAR EAST basic utility or development” India frupee) .. character will be eligible for Pakistan (runce)
Hongkong grants,
Netherland East Indies All of the ald will consist of singapore. Canalian goods and services in Japan accordanco with
programmes
ime to time
thov speciile
agreed
upon from TAN
Where grants.
are extended.. Washington, Sept. 10. Hans
Karl
von Mongold, the recipient government will sut West German representative on
up a special account and pay Lead-17 cents a pound, New the European Payments Union, into it the cquivalent of the York. 16.80 cents, St. Louis. expects 'Germany's applications Canadian expenditure in goods. Foreign, 21.30 to 2 cents for membership in the World and services.
Gulf of Mextes ports. Bank
and International Mone- These funds-known as “coun-. -170 17.50.cents a pound, fary Fund to be approved with- ter funds will be used piss to
Now out serious ob who is! East St. Louis, 10.286,
finance the economic develop- 10914-10015 | York. Foreign, 29, nominal, Herr von
attending the annual raceting projects in the two coun-
Irles--Reuter. 20014-18136 Gulf of Mexico ports,
10
a of the Bank and Fund here as Aluminium 184. -163
final approval pound, ingols, shipping point. an observer, said 17014-17112
might tome before the end of 130-132 107
Ho
told the United the year.
informal United Press,
LONDON TIN MARKET
Spot' tin, buyers
Spot tim, sellers
Bursa Conn at
Three-month tim, buyers Three-months tin, sollers
055
90715
935
DOT11
cents.
Antimony 45.35
cents:
conis
pound, cased (less than carload Bress he was als of the
New York bulk. 42 cents, contacts with lots, Laredo, cents, Cascade,
Texas.
Manganesy are wil 1.30abe dog
long ton unli (22.4
pounds),
were
Grain Prices Decline
EXTOY
01991
.0025
4.20
11002
231
.0150
2003
2000
360 yen to ESJI -United:Prom:
London Stock
Exchange
Londen, Sept. 10.
Jcpancre bonds
HA”) (49% of 1809) NA 100
349; of 1910)
"D"
"C" (5s, of 1907):
(as. cf 1934)
GO.
8014
77
-HE". (0345, <f, 1994) ;; 1001⁄2 65% Conrola,
Domestic stocks were neglect-
ed in favour of overseas bonda and Canadian issues
Reports of high production prompted renewed buying of
bonda which German potash
1828**
Government cotton crop report Drop In Wool
50 two organisations while here. However, there was nothing to on Germany's
part at
have been in the spotlight re- toward furthering its
Gains
to presant
ranged up cently. India ore, elf US ports, duty membership bid.
Chiengo, Sept. 10:
carly three points comm On long term contracts extra.
The German basking experi Light but persistent selling
Li'llc. business was done in sent grains down on the Board British Government; bonds and from other sources, 'prices sub- said the Federal Republle's appli London, Sopt, 10:
fions were flied in good order and of Trade today. The decline stocks, whic}r. ject to Individual negotiation.
showed little The tin market oponed steady
the initiative new lay with the extended to all plts although change from Ferromanganese - $185 Turnover was 50 tone,
Friday's closing. today
gross ton, shipping point, directors of the Fund and Bank there were times when the de
levels. including 5 tons for cash.
Nickel-56.5 cents. a pound, Informed curets raid cfficialsed onts contracia zhowed The Financial Times''s daily Prices closed at the end of
Aas of strength.
Index of stocks was the official morning cession as electrolytle cathodes, Port Col-ef the two organisations
.con- US duty In-now studying the German cause. borne, Ontario,
th part the slump was
Associated Press, ' cluded.
They added, that technical quer altered a technical reaction after ounce, tons made the Gaiman applica- last week's brisk upiura. Soy- Platinum-$90 an
more difficult to process beams sold aft following the wholesale. 503 retalled, New lon York. M
than usual.
The injor." problem Silver -90.16 un ounce, New
Wheat closed 1-13 tower. York.
78.5 pence, London. establish the size of the German
Sept. $2.4244-42 Tinalde a pound, New subreiption to the International Bank and ie ax Germany's quota Quicksilver $195 - $200 a in rails to the Bank. they satt.
to Market Mask (70 pounds), New York. The quais cesigned cach Tungsten ore-305 a ton unit paticn exproases in monetary
cách sinh (20 pounds), ceiling price, terms the voting power of each New York, Sept. 10.
Imember. The pepper merkot started | Associated Press.
The ultimate size of the Ger lower. Sept. 81- man subscription · and quoja!
Rye new style was would be effected by the Banks tower. Sept. $1.70.
Federal Repub- He's
West Berlin. relationship to The extent of the financial re sponsibility of
of: Bann for city of the Comunist-encircled - would-
materially, Alici
Business done at Settlement
123-100 035
Profit-taking toward the close was readily absorbed with E slight sei-bock frem the bes levels of the day.
Leaders
ahend pushed around $2 a share at the cutside London, Sept. 10. with a few issues going even Commonwealth trado experts higher. Lorsza were held below a
here today to plan their dollar a share as a rule.
for
international President Truman then turn policy
Rising prices were and tarlita conference
expanded volume with panied by ed to a question which is ex-trade pected to inspire considerable opening in Geneva on Septem- business coming to a total of around 2,200,000 shares, one of discussion during the Fund's ber. 17.
the the
best days in the past 10 conferences throughout
Representatives of nearly 40 weeks. week, the question of restric-
Steels started the ball rolling, followe meet at Geneva. flons on trade, through exchange nations will
and airlines They
aircrafts the contracting Later controls.
by parties to the General Agree were the lenders allowed
steels, olla Trade distillers,
and and President Truman said that ment on Tariffs
were laggard the task of simulating world (GATT), which produced 8,700 others. Motors trade and ending post-war re- separate tariff concessions after all day
Some of the attention being #frictions upon it through gov-a meeting at Torquay, England,
to gold stocks was attribut-. ernmental controls, would now last winter.
ed to the fact that the Interna- tional Monetary
Fund anruol mooling is getting
under way with hopes on lite part of the
fraternity mining.
that
some- The Commonwealth experts
price higher than the He expressed the hope, how-tiere for the preliminary talks thing will be done permitting o the British celling imposed by the U.S. officials of their best to reduce restrictions Board of Trade and the Aus- Treasury of $35 a fine ounce for
New Zealand, South monetary gold.
lons at between $1.81-142 New York Sugar time of the on foreign exchange which stine trallan,
African, Canadian, India, Higher were Douglas. Air-pound, on an ex-dock, basis, world trade," 17"
Pakistani and Ceylon High craft, Consolidated Vultec, US October delivery was quoted at He also urged that no mem- Commissioners Offices in Lon- Steel, Bethlehem Steel United $1.70, November delivery at
B pound. ber of the Fundabould use don.
nerican Telephone, rearmamento justify restric "
Copper
Homestalte were
at around 62.77- tions on trade and exchange of
East-1.78 bpound, including :+cos! not expect, that the United States! which were currencies
to break off its trado
and freight-United Press, nefually needed for defence.decision
ogreciment' awith Czechoslovakia
be more difficult as a result of! the reatament drive of the ndtions of the free world.
GREAT OBJECT
Next week's meeting will be concerned with general trading problems.
ever, that members would do are
pald
Pepper
United Prest.
the new week at a slow pret. On a nominal basis dealere in- dicated spot and nearby post-
Air Lines. Werane-World Air Brooment :*:offering.
Douroodyear.
Well-informed. quarters iler canecott
man Kodak and
Curb rintket Stocks gederally higher. Among them
The President said that tho would be discussed at Geneva, free nation's had resources sumisight to provide both for
wero
Vark
Futures
1a
sffairs
Mi
rch May
Dec
July $2.41% 36, Corn was 360 G
Outs were
unch
Wool
|
Continues
Melbourne, Sept. 10.
prices continued to
which
made
lower, Sept. drop in the season's art series
which
For Melbourne, w
Wool S Merino
need to opened today. RES
-1 cent up 95 per cent of the offerings, was up to five per cent lower than at Brisbane last week. Comeback and crossbred linen, helped by Japanese compeition, held firm,Associated Press;
Soybeans were 14-2% lower
$2.87-874 September sceinted Press:
Ал-
STEEL INDUSTRY AT FULL BLAST
# LIGHTERS IDLE
Singapore, Bept. 19%%! Herr von Mangoldt plans to By back to Paris this week-chd.
Now York, Bept 10.
Moro Zhan // 300 / žingáy He will attend the meeting of. The steal Industry plant tongkang (ght the European Payments Union, output to its capacity of in the harbour fat there het weekend 1,990,000 tons of logo and steal owners refused
for castings this week.
Sumbira to "plest, The American Stroh and
New York, Sept. 10. Domotic sugir fuluros No. closed two upper with galds, Germany
contracts Novembet 621. Dombele eugar future No. were Kalser Frazer, Lake Shore Exchange Rates quatre
Molybdenum, Czechoslovakia is the only Minen,
United
World sugar futuree No. 4 GATR st country in the Seat This Goldfield Content exchang Shoot Machinery Cuban Allan LLEVAN
Dulcess was done in the focaclored four, tai alint; lower. Ao the con-
KARMA morning at the following sterg March Bar Ta slacken in their attempts to The delegates to the C provide is thei: machines and forence were falas expected to
ideris per- 100) YANG 1-301
milllery defence and economic Communist progress, phd they: must:
not
"countrles le despite manent organisation for
jagos of these i trade and, fariti
sollen
market, this
York, Sept.-10.
Kionsgo
oday that
ot: 100-percent compared mat with 98.8 ben cons laritwook Alodia tod/Fres