THE CHINA MAIL, FRIDAY, OCTOBER 12, 1951.
MESSAGERIES MARITIMES STERLING AREA & JAPAN
MOM
**LA MARSEILLAISE"
"LES OLIERES"
Arriving. Leaving
Outward For
.Nov.
Oct. 20 Del 21
A
Yokohama & Kabe
Nov
**
Homeward For
"OTONNAX"
.....04.
21
K
0+1
Nov.
#
N. Africa & Europe
3
+"'MONKAY"
Nor
74
Nov. 25
passengers & freight
LA MARSEILLAISE"
Mantis, Raigon &
Marsollbea
N. Aften & Europe
† freight for Saigon, Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp &
Rotterdam.
Bubject To Chan ze Without Notter
CIE DES MESSAGERIES MARITIMES
P.O. Box 5, Hongkong
Queen's Building (gr. floor) Tel. 26651 (3 lines).
Bolivian Attitude
Said To Be Cause Of High Tin Price
London, Oct. 11.
The Financial Times in an editorial asked to- day "Why has tin recovered from £800 to about | £1,000 a ton despite the continued abstention from buying by America, the largest consumer?
[
Spectacular Trade
Trade Increase
Pound Soars On
Black
Market
Paris, Oct. 11, The Pound Sterling to- day reached its bighers poft on the Paris black market since Sterling was devalued op September 20, 1949.
notes cose
All foreign spectacularly, the Found by 20 frames to 1,000, the dollar to 428 and the Swis frane to 09, compared with 421 and 8614, their respen- five records for more than two years,
The Bank of France's notion in raising discount rates, considered In Bourse eireles us a move against inflation. was one reason for the rush.---Reuter.
Rumours On Fate Of Franc
"Settling Down
Unlikely Period" Of
Six Months Planned
(FROM OUR OWN CORRESPONDENT
London, Oct. 11.
Trade between the Sterling Area and Japan is not expected to show any "spectacular" increase as a result of the recent payments agreement, a Board of Trade spokesman said today.
It is intended that there should be a "settling down period" of about six months in order to see
how trade between the Sterling Area and Japan HONGKONG
develops under the new payments arrangements.
Until this period has expired it is not intend- ed that any formal trade agreement between the United Kingdom and the Colonies, on the one hand, and Japan, on the other, should be concluded.
for
tradc cannot component"
bc a l of the
is that is
bilateral Japanese NegotiationS agreements between the over- "missing seas Sterling Arca countries enci Colombo Plan.
"The inference Japan may, however, be held.
The Board of Trade denies the relative backwardness of recent reports from Tokyo that Japanese industry, not its enter- bllateral negotiations between prise, which is reasor for concern Japan and the United Kingdom in studying the Asian scene and
of the will be held in the interests anc Colonies
Western Japan next December
countries in Asia," the Guardian concludes.
So far as trade between this country and Japan is concerned it is Def experter that there will be any large expansion of British exports above their re- cent "modest level.
Although Britain
PAKISTAN & JAPAN
Karachi, Oct. 11. Pakistan's trade with Japan in 1950-81 showed a favourable no balance to Pakistan of 135,934,-
SHARE MARKET
(Our Own Correspondent) Business done on the Stock Exchange this morning was valued DE $604,008. Noon quotations and the morning's transactions:----
SHABES BUYERS SELLERS SALES BANKCS
HK Bank 1830 1640
INSURANCES
Canton Union
HK Fire
SHIPPING
As Nav
Dal
Ship
ARRIVALS
Date
Port
"TASMAN"
IR
Port
VAN BEUTSZ"
Pori
“TJIWANGr
16th Oct.
"TJIEKSAR"
11h Oct.
23rd Ori.
24th Ock 24th Oct
30th
Det.
2nd Nov
"THBODAS“ *TEGELBERG“ TUBADAR“
“STRAAT
MALAKKA"
-TJITJALENOKA" "STRAAT
From
Belawan Bell, Penang. Bingapore &
Raigon
Japan
Macyskar, Java Ports & Singapore
Japan
Jaya Ports
Japan
Java Ports, Macassar Singapore
B. America Africa,
Manfa
Macawsh?, Jive Ports
MAKASSAR" ...Japan
Singapore &
$
Starspore
SAILINGS
TO
Lath Art 17th Oct,
“VAN HEUTWZ“ «TANRESAN”
Singapore, Petang
R
Beawar Belt
Manila, Mingapore, K. &N America
Airtex
17 Oct. 18th Oct. 22nd Oct
28th Oct. 27th
3rd Nov. 411 Nov
"JJBWANG?"
JIBODAS" "TASMAN"
"TJISADAK" "STRAAT
MALAKKA" "TJITHAJENIKA"
PETRAAT
MAKASSAR"
singapore, Java Ports J MACARRAI
Japan Ports
Salinn. Djakaria.
Aarabala Japan Porta
Japan Porta
Singapore, Java
Poris & Магаска
Manila, Kingapore, S.
America
Atelea
Ceneral Agents: HOLLAND EAST ASIA LINE
Date
ARRIVALS
Ship
"ARENDSKERK"
"ARENDSKEEK"
In Port 5th Nov. 2nd week Nov. "KTELDRECHT""
19th Det.
7421
750 500 100 €
6th Nov.
"ABENDSKERA” "ARENDRRERK"
760
Underwriters
45%
146 160
11.65 135000
5000
4000 150
K. Whart
102
of
N. Pt. Wharf 0.80 6,85 3500
Dock
1015 3.90
(6.89
18 183
014
36 384 1000
1100
6,20 0,30 6000 @ 028
G4 000
54
2.20
11 11
Paris, Oct. 11. The Finance Minister, M. Rene Mayer, met with chief economic experts to day amid ever stronge. longe: required after a certain 483 Rupees as compared with "The principal immediate reason for the re-
rumour of the impending point to settle its trade account the adverse balance the previous cent market strength is the fact that Bolivia has
the franc with Japan in Collars, the your of 49,567,987 Rupees, Large-scale purchases resisted the price terms which the United States devaluation of
and reports that M. Mayer Government do not intend that
Provider to reinstitute Japan should be allowed to bulk cotton by Japan accounted for is willing to offer as part of a new contract.
! has decided
parge Sterling balances. the increase in trade, Pakistan
Our imports from Japan will exports to Japan in 1950-51 The Bolivians poun to their coinage of gold.
totalled 324,347,200 Rupees and while
US
therefore be kept at s reasonably high Cost
the
With the black market rate of
low lovel and other Sterling Imports, 188,412,749. Rupees.-- negotiators point out in reply
the dollar curing to a leve main That heavy axation is a
Area countries will be asked to Associated Press. higher than
1949 since Bry
restraint in their ingredient of these costs,
Anuncial elreles believe that exercise devaluation is immineat despit repeated offelai denials
EXCHANGES
IN NY
New York, Oct 11 Canada dolları Englund official
-
mark
18$0.95
West German Deutsche-
Holland (guilder)
Italy-official
Norway (krone) Portugal (escudo)
279-18/14
15
-Tu thus The Bolivian
their that Julner
ronomy depends on tin, danger of social disturbances
real one and
therefore be ready to concede
去 is virtually certain, now-
ever, that this would be treated by the US. as a special #X- 0928-P/IR ception to the general level of
world tu prices.
"Another factor affecting the marke may be that some buyers
bren
secur! anxicus 10 have suppues of tin in anticipation of a possible international scheme for allocations"
in
ve- whol.. The and political Bolivia the U.S.
a
ma:
unoticial
273 bid.
Z 10 asked
futures
go-day futures
274
Australia (pound)
2.1A
a large part claims.
of the Bolivia,
New Zealand (pound;
1
South Africo (pound)
2.60
Belgium (franc)
0199
Denmark (krone)
.1455
France
(franc)
420
2630
11002:
1405
034
Spain (poeța ) Sweden (krone) Switzerland-free
0230
A1035 22pr
MIDDLE EAST
Egypt (pound)
2.88
Tran (rial)
Iraq (dinnar}
Turkey (m)_...
03125 2.81
1375
LATIN AMERICA
Argentine-official
0710
Brazil
(cruzeiro)
IIBE
Bollylan
(boliviana)
Chile-free
U150
Columbia (peso)
4025
3.00
1153
0650
Uruguay (post)
4150
tbolivar)
2005
FAR EAST
India (rupee)
2100
Pakistan rupee)
2030
1783
3040
3305
350 yen to US$1
Cuba (pes> Mexico (pesa) Peru-free
Venezurie
Hongkong
Indonesia Singhport Зарат
-United Press
PROBLEM FOR PERSIA
The Financial Times noted that th? Mr Symington, Director of Reconstruction Finance Corpora - tion, sole American buyer and seller of in, had said the United States had no intention of paying unfair prices Just because she needed tin.
Tin prices have shown
remarkably little reaction 40 this evidence of a continued
offclai U.S. attempt to force them down. Despite the surplus' of tin which
the statistics show to exist, there has been little evidence yet any beavy weight of tin
shadowmg the world
U.S. has even while the boycowing it.
This
ri
Over-
market been
tends to suggest that outside America, some of the be surplus has tir. thought to actually been absorbed in in- creased consumption.
If, in the U.S., tin was avall- able more freely to consumers, the statistical position and the appropriate price level of the metal would be easier to ascer- And the lain."-Reuter
New York. Oct. 11 Persia could find technicians and buyers for oil produced at Abadan but could not tankers to transport it. the ma- gazine Newsweek said in week's issue.
this
LONDON
MARKET
London, Oct. 11. Prices of tin were firmer today In a three-page survey of the Turnover was 75 tons, including Anglo-Persian
oil
Newsweek published
dispute. 30 tons for cash.
chart
Prices closed at the end of the showing the following figures of cfficial morning session as follows: tankers: United States 6,004,000 Spot tin, bayers tons, Britain 6,045,000 tons, Nor-Spot tin, sellers
Business dome at ions, Western Three-months tin, buyers way 4,410,000 Europe outside Norway 4,014,000 Three-months lons, other Westen Homisphere Business done at
Liberia Settlement 1,239,000, countries
756,000 tons, Japan 454,000, So- viet Union 188,000 tons.
Western
The writer emphasised the world shortage of tankers and sold no American or countries would sell to Persia Router.
New York Sugar Futures
New York, Oct. 11. Domestic sugar futures No, closed 1 to 8 higher. November
3.50
0.45 uked 6.47 nominal
1,015
1,020
1,015
tin. sellers
04712 16236 950-04746 1,017 -United Press,
Grain Prices
Go Lower
Favourable hervest
Chicago, Oct. 11.
i
-
if the trancs devalued to the rate of 400 to $1 in contrast 10 the present 340 exchange and the black marke. rate of abnu 430, it is believed that such tion would have little effect on France's earning power since he cxports are falling because of a decreasing market in some case. and because ofinereusing do- mestic usage in other cases.
On the other hand, it would increase French expenditure:
materials which for raw already so high that the dolia. gap is becoming alarming.
dollar The
on the black
13 market zoorned
to points 435 per $1 for denominations af $10 and above, while the rate for single dollers went from: 421
to 428,
Gold climbed frum frence
arc
577.000
E
10 582,000, per kilo Kain of 14.30-United Press.
Two-Sided
Market In
NY Cotton
01
New York, Oct. 11 Cotton trading became more a two-sided affair. Thr evening-up for the holiday, and possible Washington wesk-end announcements on the suggent- cd price propping proposals. caused speculators to even up positions.
imports.
In INE meantime trade between this country and Japan: will be closely Scrutinised
from Japan will be Imports
last year higher than slightly but for balance of pavienis
will be stricte reasons they to essentials
IMPORT LICENCES
The Board of Trade announce"! that they will therefore grant import
Dispirited
Market
In Wool
Shat Dock.
Wheebok
LAND, ETC FR Hotel BR Land S'hai Land Humphreys
UTILITIES
Trum
P. Tram (0) 22
*** 5 setet&c
885 3 40.28 3x
16.00 £7.10 9200 & 17
131 110 C. Light (0) 920 850 500
Star Ferry
4 6.29 2700 C. Light (N)
C. Light 81 910 9%
From
Europe & Singapore Japan
Europe & Singapore
SAILINGS
ΤΟ
Japan via Mondia
Marta Mingapore & Europe
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
Electric
234
Telephone. 18 15
Hope
Cement 1434 143 500 @ 2014 STONES, ETC.
M.S. "PETER MAERSK”
M.S. "NICOLINE MAERSK”
M.S. "SALLY MAERSK"
Durity
Watson
19/40-18.30 200
324% 23
Sydney, Oct. 11. Wool prices fell again in both licences for limited Sydney and Adelaide today. amounts of raw materials and
INDISTRIALS At the fourth day of the semi-manufactured goods, such Sydney sales, price for all types as cotton and rayon grey cloth of wool closed from 10 to 20
cent for processing and re-export to per
below yesterday's certain markets, räw silk, rates.
Prices closed 25 per cent be- timber, certain types of paper. chemicals, iron and steel pro- low yesterday's levels at ducts, non-ferrous metals and third day of the Adelaide sales. Bidding at Sydney was spas- some types of food.
There is no intention at pre- medic and the market was sent of fixing a "target" level tmts lifeless and dispirited
the animated with for trade between the United contrast Kingdom and Colonies and bidding of Monday and Tues- Japan. Further talks will be day.
held between the two countries
France,
the
BL
in
Belgium and
other
at the end of the "experimental European countreis pre- period" which is due to end in dominated, while Japan, Britain March next year.
and local milis gave moderate
Meanwhile the Manchester support.-Reuter. Guardian says today that Japan should be allowed to co-operate In the Colmbo Plan, not only to supply south Astan countries with capital goods for develop- purposes but also to provide a market for Japanese industry.
ment
Quiet Day In Textiles
New York, Ort. N. The cotton textile market
L Crawford 291⁄2 COTTONS
Exmo
9.89
+
600 2000
3/70
8.90
London Share
Buoyancy
London, Oct. 11. The London Stock Exchange woe buoyant today.
There was widespread buying the in most sections during early part of the session. Part of the gains were shed near the close, but plus signs were plentiful at the end.
British Government bonds, textile issues and building shares BITL O stocks were were
Sutex of The
But, it warns. many of the schemes now put forward by the Japanese are really no more than a resumption of the economic relations which existed was quiet today with prices mainly steady.
about unchanged.
Financial Times' daily with south Asia before the war,
There index of London stocks today and these were not of revolu- print cloths were light.
interest in was 137.0. up 0.4-Associated was some further tionary beneflt.
Press. Rapid extension of Japanese bag sheetings.
NEW YORK MARKET Wool goods were dull. Mills industry is necessary to pre-
New York, Oct. 11. vent "troming new millions of continued to await some signs
Steck prices moved higher on Japanese population from seek-of stability in world raw wool ing salvation by desperate prices. For the past two days all fronts with industrial issues means, the paper says.
Australian wool prices havej scoring the best gains in over a In the Arat general turned lower following a sharp week.
over the past advance of the week, ralls, steels, spurt in value
olls, farm implements and certain three weeks. It is being said in America that if more dollars are to be the slowdown
Rayon goods were sluggish. specialties rose smartly.
Most
gained fractional- utilities in activity was Invested in Asia they should reflected in statisiles on
although volume Sep-19, be added to the already very
with sales totalling tember rayon shipments total-
This shares. The
The industrial average ling large sums sent to Japan rather
82,100,000 pounds. than dispersed elsewhere, for
shop was 16 per cent under the levels rose 1.34 and rails 37 cents, while
utilities if Japan became the workshop
average dropped per cent the of August and 25 In Washington, a delegation of
of south Asia the dollars in- Southern Congressmen and vested there would also
under the average monthly level 6 cents. Or 1,143 issues traded, in-
for the second quarter of this 532 advanced, 309 declined and growers conferred on Wednes- directly benblit. the southern
242 were unchanged. day with the Agriculture Secre-
year.-Associated Press, tary, Mr Brennan, tó demand higher Government support for cotton next year.⠀⠀
New The New York and Orleans markets will be closed on Friday for Columbus day.
Nearby October delivery went off the board on Wednesday Traders assumed that moderate there ehort interest remained and its growing tightness caused mills to cover. The firmness in October delivery spilled over into succeeding December Ilvery which widened over mark to as much as 25 points at one time.
de-
the
STANDS TO BENEFIT
countries,
b One dollar would thus made to do the work of two.
Japan stands to beneft from Hodge selling became more apparent today on the rallies expansion of trade with south and was more than sufficient to Asia, the Guardian goes on.
Today sells 姐 the demand from domestic of its exports to the Sterling high proportion and Canadian mills along with of
Area but continues to pay for a supporters
offerings Producer
high pro
proportion of its Imports had undoubtedly been attracted high by the higher prices in relation in dollars. It
ย
fol-
Anja,
Weekly
Bank Statements
ARRIVALS FROM U.S.A.
M.S. "LEXA. MAERSK" M.S. "ANNA MAERSK" M.S. "LEISE MAERSK"
Oct. 16
Oct. 81
Nov, 15
Oct. 16
Nov. 13
Nov. 30
For Freight and Further Particulars please apply to:-
AGENTS;
JEBSEN & CO.
Tel: Nos, 36066-0,
Pedder Building
P
PATTISON ORIENT LINE
LIMITED
2. 1. “LAURE PATTISON"
Due From:
In Port
Salts For: DIRECT to Pasan & Japan, Oct 18th
picked up 1,760,000
Dow Jones averages at the end
of the session stood as follows:
30 Industrials
20 rails...
15 utilities
40 bonds
274:10
46.86
London Rubber Futures
weather and the higher than expected.
London Oct. 11, thereforo possessos The Bank of England state- Government crop estimate sent grain futures
a standing surplus of Sterling ment for the wook ending Octo- lower today. to the loan..
which it needs to convert into her 10 reads on follows Wheat closed % to lower
The market opened or 4 to 2 dollars. It will goin if it can Notes in Clroomtione #1383,107,000
London, Oct. 11 and soybeans were unchanged
103,040,000
rubbor futures points and closed off 17 to 27
Prices Por of fis raw materials Private deppelte obtain more of to 1% tower.
34,065,000 Gyvachment securitien points. Prices closed as
the Storling Area-of south other arcurities ...... from
Soma 000 closed today as follows: Prices closed as follows:-
lows:
1,000 Number 1 rubber, there ||:Hemipts, WHEAT—price per bushel,
27 34 nominal But this picture of an ideai| Homie ratio .... 241 Spot
Delober September
Asian economic structure December
rather too simple, the news- Barel, (1803) May
CORN Spot 195 nominal Reptember
Decembre March (1903) May
RYE July
World suger futures No. 4
MATC!! MAY July
closed:
March May September haw sugar apot
0.11 d
4.17 bid 8.1A bl ociated Prav
New York, Oct. 11, Prices of copra were quoted pember today (198.00 per short ton
DATS aded Coconut oil was quoted JAYHUTS |Beptember Koday rat: 14– vents" a pound
1.50-16 2.00
Pember
Murch, (1063)
5.301 2.44
July
Dalobry
27.50 bid
90.19-24.00 35.35-38.57 $8,03 34.02
Mecember
1.75
Maron (1908)
NEW ORLEANU MARKET
1.00%
Spot
In
paper says, Will the United which to finance its
Unlled Pres BANK OF FRANCE pay Paris, Oct. 11. The Bank of France etatement
creation, sequiesce in Japan's for the week ending Cofober 14
transserie to
ith Azin some bends as follows {gorith
Df its ension: Los lamporte?
Total gold holding 11,440,873.500 scles and other cur
velSheen (physical jobsearisión" night online. abroad: 334,186,204,0
En bild in the way of further?
$4.00%
Advenos to currency ·
thens med for skillaid machinery, anggot and the price of slapinare" ex»
Ar mul too high
bald to woul
open's
best be useful contribution.
November
December?
January/March (1969) April?füre July/september
Bosa in the foot
12-14 Queen's Road C.
Chinese Agents:
Tel: 25846,
OVERSEA CHINESE STEAMSHIP CO., LTD.
48 Bonham Strand W. Tels: 26646, 26127 & 31119
M.V. "LA MARSEILLAISE"
12 days roundtrip
MANILA and JAPAN
Exchange Rates Salling from Hongkong →→ Sunday 214 October, 10 P.M. Back in Hongkong. - Friday 2nd November, 5 P.M. CIE DES MESSAGERIES MARITIMES Queen's Bldg.
Tel: 26051 (8) Lines))