ROYAL
RAL
INTEROCEAN
Date
In Port Joth JAIL Ort
Oct
2nd Nov
9th Nov
19th Nov
JU, No1
18th Nov
20th Nov
5th Der
Ship
ا ہے اور مالی
TEGELBERG“
ARRIVALS
TJITJALENGKA"
STRAAT
MALARKA"
**STRAAT
MAKASSAR"
"VAN BEUTS7“
"TASMANT
TASMAN
TWANGI
**STRAAT
Fa
LINES
From
Macassar, Jaya Poris & Singapore
S. America, Airlea
Japan
Singapore
Penang, Belawan Deli & Singapore Singapore, Penang & Belawan Delt
Macassar, dava POTIA
tap
MALAKKAL" "TEGELBERG"
Japan Japan
SAILINGS
TO
MALAKRA"
"ha Nov
"STRAAT
314 Nov
4th Nov
"TJTJALENGKA"
PSTRAAT
MANASSAR" VAN HETENZ -TASMAN" *NGELBERG," (LITWANGE
10th
18th
Nov
IBIL Not
20th Nox
2nd Neer
STRAAT
AFGER BEKG
MALAKRA
200 De
General Agents
Daic
400
Ship
Japan Ports Singapore, Java Ports
Manda Speapare C.
pan Pozis Singapore tyhanc 尻 Japan Portu
singapore, Java Ports
Manda,
Singapore.
S America
$ Stugapore
Macassar
& K Alrica
Relawan Det
& Macassar
Africa
Shugapore, Africa & N America
HOLLAND EAST ASIA LINE
ARRIVALS
Nov
PARENDSKERA“
2nd week Nov, KIELBRECHTE
THE CHINA MAIL, MONDAY, OCTOBER 29, 1951.
MY
Page
TORIES' ECONOMIC POLICY MESSAGERIES MARITIMES
Uncertainties Yet To Be Cleared Up
Report On U.S. Business
The
of
New York, Oct. 20. National Association Purchasing Agents says that over-all business is good and will tend to continue so through November,
In its monthly
survey
MOM
Leaving
Nov. Je
Outward For
1
On Restrictions
Credit As
“LES GLIERES"
Arriving
Nov. f.
FELIX ROUSSEL” ... Ded G
Nomegard For
**LA MARSEILLAISE”
Nov. 2
Nov. J
Manila, Saigon &
Marcillas
*""MONKAY”`
--Nor, 28
Nov. 30
A Disinflationary Measure?
(FROM OUR OWN CORRESPONDENT)
London, Oct. 28.
The return of a Conservative Government poses many immedinte of questions. Some of these-for instance the future of the nationalised in- ! general industrial business
stdustries-can be answered with reasonable certainty.
But in the wider field of economic policy the Conservative victory developed in September merely removes some uncertainties to replace them with others, was maintaine through Octo
trends. the Association
that the slight improvement.
which
ben
The demand for holiday goods has picked up somewha:.
The Conservative economic policy in certain matters has been stated in unequivocal terms.
but not to the normal seasonal Some changes are certain in the nationalised sec- fie} front
volume and much of it can be
stocks.
ihoduction Kabwing.
î
ה
Rome
regions are
Delene
tor of the economy.
Bolivia's Warning On Tin Price
"The Purchasing Agents: Sirel will be denationalised→ 31 remains truc-whichever consensus of opinion is the though this may prove a long paray is in power-that rising there must be more of it, andad arduous task. Coal and prices are nature's cure for in-
wider spreet, if hardships transport will be reorganised in fatton.
of "economic The Socialists would have at regional groups Dybidec Inventories arc des.ze." and in the case of transpon: tempted to cure indation by cling all along the line raw more freedom will be granted Imposing more price controls and
10 private materials, work-in-process
haulers.
levying an even higher rate of Certain charges
belaxation of the very rich but made in the administration
by those measures
themselves the electricity and gas industries, would have increased rathen than warned last night that the U.S.
the inflationary pres-hold and civil aviation will become a reduc cambination of public and private sures. enterprise.
From
Europe & Singapore
Finished goods.
SAILINGS
The
ΤΟ
e ranger,
present
wis
level oft
Manila, Singapore Japan via Manila,
A Kurope
bul spotty.
28015 TO 28017 ROAD & TELS: 31196 25133. -
Mh Nov
PARENTSKETCH 2nd werk Nov. "KIELDRECHT
"KING'S BUILDING, TELEPHONES:
CHINESE AGENTS BE CONNAUGHT
Slump In Stocks Caused By Smaller Profits
New York. Oct. 28.
The sight of taxes chopping down profits was too much for the stock market the past week, and it toppled over into the biggest weekly decline since
the start of the Korean War.
Selling drives were concentrated in the first and last sessions of the week, and in between the market lost more than it gained.
Yesterday the market ran in- !!" eging
defener ATRİC
and
10 wer evilian proturtion -
weled for the decline.
10 a selling attack that taxed price reporting facilities for around 12 minutes. The taker Studebake reported along the tape WHIS Д minute behind Fime lues. Other empan. during that time in reporting transactions on the floor of the exchange.
When the shooting died down
the drys were i ff de muen zij Almost completely ignored
five pinky. There was a partial recovery late ladd vi leader
off oreord four ponte at the close of the two-hun
The Asserted Press average
af 60 stucks lost $1.50 to 598.80 On Moruly the las
mame
$1.00. For the work the decbur amounted 14 $3.50.
i
اولة
is picture
tenciency 1 Employment is high, Buying policy naclunged and is strongly the conservative side."
The Purchasing Agents sai conditions
انا
December
13
are
10
cí
the
CONFIDENCE IN POUND
Washington, Oct. 28. Bolivia's delegate to the Organisation of American State.
Government's determination tu down the price of tin
2 an emer-
If there is any lesson for the might make it hard for Bolivia On the other hand the Bank Conservatives in this it is that to help the U.S. of England and Cable and We-a realistic policy of disinflation ency
"Let us be sincere," said affee not only the and less, both of which the Socialis which will
delegate Luis Fernando nationalised in the early days ct level of domestic prices but also Guachallo. the first quarter of ext
un three factor their regime, will remain under balance of payments----musi will depend
"The Bolivians are losing allow an initial rise of (1) movement of finished-good-public euntrol and ownership.
prices. Nevertheless the Conservatives their affection for the US, and One of the Immediate effects of socks von hunday buying: (2:
hat might have more
Still, they might los success in graver Ilventions
first quarthe Conservative victory is that
a disinflationary their faith in American Demo- Controled materials for civilien the Socialists' dividend limitation carrying ou 18, and (3) the rate at which policy is now dead. This requires policy than the Socialists even cracy."
Guacholla's statement resulted since the policy if their methods were identical. con be brought no legislation defence order
from the indefinite suspension to production
was announced in a White Paper,
Jast Thursday of Bolivian-U.S. and the Labour Government's
talks on tin prices. intention was to make it law it!
Return of a Conservative Go- they regained power.
vernment will revive confidence Effect of the abolition of the abroad in
the stability of the dividend
iweze policy will not Pound but, if this confidence is be immediately apparent except
remain and grow, there must possibly in some marginal dial-
be immediate action... hes in the stock markets. It
The first sign of a "rough" They rejected the offer, hold- too early yet to prediet how will effer: the new issues market economic policy at home will be ing out for $1.50 a pound.
free market ex-' reflected in the
The delegate hinted that the because dividend control has
RFC was guilty of bad faith in change rate of Sterling. been replaced by a Conservative
price a per- Secondly, a Conservative Go-making the $1.12 promise to introduce some form vernment, by taking the neces-manent offer when, he said, the of excess profits tax.
sary measures to control inflation, understanding was that it was may revive American public in only a provisional price pend ing negotiations. Associated terest in our econemic plight. On the whole, howEVET, the The impression that the Con- Press. City has good cause to
feci servatives are better suited to pleased with the election resul combat indation is strengthened The Conservatives have promised by the fact
realise that they
in any
On the subject of commodity ices,
the survey said that production and material pries have shown more strength October than
month but the general Since April, irend is to level off. The Pu: chasing Agents and a lifting of price ceilings on steel and allied is likely. if steel products wurker, new negotiating for a wage merense, gel more pay Associated Press.
HONGKONG SHARE MARKET
CITY PLEASED
to revise the existing system of what the Socialists seemed to taxation on commercial and in-forget that a vas: ecocentration dustrial profks and to give relief of spending power in the hands From Our Correspondent) where profits are relained in a of the Government is itself one Business done on the Stockbustness and used for renewal or of the chief components of in- Exchange this moming showed plan and equipment.
ternal inflation.
of
than
a
a considerable increase, being Other points the Conserva- It remains to be seen, how- valued at $1,376,449.70 Noon tive economic policy cancer the ever, whether they will be able
the morning's purchasing Quotations und
the nation's food to effect anything more and raw materials, responsibilty marginal reduction of Gover SHARES BUYERS SELLERS BALES for which will, In some cases, ment expenditure without 10000 ye now be handed back to priva'e diminishing the real benefits 20000931⁄2 enterprise.
derived from the social services. The Conservalves are also ex- In spite of the magnitude of
are exprc.ed
to follow And next Tuekly U.S.
quit Sirei
transactions:-
the biggest preduery
the
;
world, will tell its profits
GOVT. LOANS
40. V
4
!BA
i
ol
3 (1948+ 93% BANKS
the nation's
UTK Bank
1590 1020
10 3610
126
230
the shume was the reports Standard Oil (NJ).
biggest of company. Its profits
Were up 47 per cent in the first muntix thus year from 1950 Other oil companies hart excellent profits. Loo,
East Asia INSURANCES
Cantua Union Underwriters 11 Fire but oile
DOCKS. ETC. K Wharf
feren selling like the othe Ta. buggest news event of the week w
the British election since the week ending June 30. Conservative
Wall Street had experted a
Party
victory 1950.
The lim margin
Prime When the week started the
Churchili's control Minister the House of Commons, how- norkel was vulnerable It had acivanced steadily from the end ever, put a damper on any Wall
of June to mid-October, an
an Strea cheering.
Com-
then it turned down shape Brush clee on weat
ន Nil breke: agi era sisrd from the 195 high. The tik. retraced a little more than one-ply unnaleed marketwist. third of the previous sustaine ||
who bearish cutlook for The wh rise, a reaction considered well he week piery well concentrated in today's shor: market. Thr within normal bounds, In fact, technicians contend the reaction $1.50 fall in the AP average was could extend to 50 per cent of the previous rise and Femain technical in nature.
The AP average has lost
of the
45.6 per cent
October gain up today.
HIGHLY NERVOUS
Junz-
A Saturday
the mos; severe for Since Ap: 8, 1939.
The industrial component was down: $1.90,
TRADING UP
Trading amounted to 1,140,000 shares as compared with 1,020,- 000 shares a week go. There Investors and traders have, were 1,022 individual issues known for some time that the traded of which only 59 ad- new Federal taxes would qui vanced and 412 declined with back profits in third quarter five new highs and 40 new lows. statements.
thev when
Electrical and Musical In-
But
first began to appear on Mon-dustries was the most active day, the market became highly issue as it was yesterday. Its loss nervous and went into an acute of , the same as yesterday, put sinking spoli
it at 23%. EMI is a British cor- Selling was so heavy that the poration. tape fell seven minutes behind. It was followed by Radio "The chemical companies were Corp, of 4 at 214, General among the first to show the tax Motors off 14 at 4014, Sunray inronds. They suffered in the Oil off 1⁄2 of 20, New York Cen- fall
tral off % at 17%, and Northern
For the next two days the Pacific off 3 at 521⁄4. market mado vallant attempts to The five most active stocks of
got ahead with ralls and steels the week were Radiu Corp., off taking the leadership.
1 at 214, Robert, Gair off at 17%, EMI off at 2%. New York Central off 1% t 17%, und Canadian Pacific off 14 at 30%.
20 1600 pected to give effect to their pre- the problem which, incidentally,
75 K 129 mise-made in the 1950 elec.ion is by no means fully appreciated
ام 2000
20 er
210
ΠΕΙΡΑ
KAS
but omitted from the party's by the general publica 770 manifesto on
flexible economic policy such Occasion-10
this
the more
of the this country
crisis
6, 2000 0.10 reopen the Liverpool Cotton Ex-the Conservatives are likely to
adopt should avoid change as soon as possible.
effects cfi extreme broader issues the economic policy,
however, the towards which Conservatives have been no more rapidly heading.
140
100 $ 1:37 105
300k 107 NP Wharf 6.90 710 2009 we 7
3000
оп
14% during the campaign regarding
Dock Prevident
It 18.75 1500
181⁄2
14.60 2500
14.60
2500 14.80
definite than their Socialist pre- decessors. They have said little
2000
Wheelock
361%
their approach to the
LAND, ETC.
HK Hotel
6
RK Land
S'hat Land Ifumphreys UTILITIES
6.43 6.60 3000
54 5415 27554
problem of inflation.
central
The balance of payments situa
854. tion, to which they must now
200 64%
2.20 1000 2.10 give their immediate attention, is
13 1000 & 1915
Trom ....... 172 179% 600 @ 17
175
only one aspect of this problem. The other is the cling cost of living at home.
CREDIT RESTRICTION?
Cotton
Consumption
Forecast
Mr Oliver Lyttleton's hint in al
Washington, Oct., 28. it may newspaper article that
Steppod-up military buying become necĘSNATY to resort to will keep world cotton consump monetary methods of combating tion during 1951-52 close to the inflation seems to indicate that
last season's record of 33,000,000 Conservative Government bales, the International Cotton will allow short-term
interest Advisory Committee said today. 2000 g rates to rise perhaps through £000 9.65 manipulation of
of the bank rate.
The fundamental factor in the Other fomos of credit resric-consumption level will be the 5002434 on may be used to curb the increased military spending 2200 21 pressure of home demand, and textiles especially in the United
8002415 the Conservative Chancellor may States.
17.05 500 € 17.10
P
Star Ferry
Tram (2)
Tram (0) 22:1
11 112
C. Light (0) 9.50
750 @ 9.60
1000 9.80
2000 ( 3.90
85
C. Light (N)
C. Light (B)
0% 600 6
6.75 304 4.95 2000 6.60 2200
924
the
Electric
24 241⁄2 2100 4 2474
100 6 24.
24
Класно Telephone INDUSTRIALS
(Bonus)
Elec.
23 2311⁄2 36 23
160121 favour the American method of 3244restricting credit facilities for
2
10
16 000 @ 15%
1000 e 18%
on
It added, "While current con-
sumption may not reach losi hire-purchase and building kans season's high level of 33,000,000
But, in formulating an
an econo Cement 19% 18% 1000 @ 15.50 mic policy strong enough to outbales, there should be no ap-
300 1514 the needs of the time, the Cen- preciable decline."
The Committee, made up of 000 € 10. servative Government will un- 211
doubtedly be handicapped by representatives of 40 countries STORES, ETC.
their comparatively
narrow said speculative operations will Dairs 10.40 10.70 200 2.10.23 | 128
5066 1914 majority in the House of Com- not be a major Inthanoe this 4500 G. 1814 mons
season as they were last season,
Hope
Watson
L, Orawford 2014
Sinceres Sun Co., COTTONH
Ewo
3700-20
Kung Futures
S'pore
ed
ה!
Mr W. Stuart Symington, Ad- ministrator of the Reconstruc- bas tion Finance Corporation,
Bolivians $1.12 offered the pound for their tin.
THE ORIENT'S OWN
passengers & freight
† freight for Saigon, Port Said. Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Bubject To Change Without Notier
CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong Queen's Building (gr. floor) Tel. 26651 (8 lines).
MAERSK LINE
FAST FORTNIGH TLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S. "NICOLINE MAERSK” M.S. "SALLY MAERSK" M.S. "LEXA MAERSK"
ARRIVALS FROM U.S.A.
M.S. "ANNA MAERSK” M.S. "LEISE MAERSK" M.S. "GRETE MAERSK"
Nov. Nov. 15 Nov. 30
1
Nov. 16
Nov. 30
Dec. 20
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
CAT
Tel: Nos, 36066-9.
CIVIL AIR TRANSPORT
CIVIL AIR TRANSPORT
in conjunction with their agent
TA HING CO., (HK) LTD.
announce
4
the opening of passenger and freight
Booking Office
on
25 October, 1951
AT
ST. GEORGE'S BUILDING
ICE HOUSE STREET
TELEPHONES: 31288 & 31289
Pacific Far East Live, Inc.
-DIRECT
Fast-Regular Trans-Pacific Service
ason's bit
SAN FRANCISCO, LOS ANGELES
1500 e 19.03 A policy that is to carry us because of the easier raw cotton 50 2014 1000 2516 through the period of rearmament supply position and more stable and at the same time keep In-cation prices this season, plus 100 3.35 flationary forces at bay must the large textile inventories. The 11720 2.50
necessarily
Committee felt, however, that the involve unpopular ...... 4.00 8.30 400 4.00 measures.
current depressed condition in, The high cosy of flying emerg-txilles is unly temporary.
The Committes said. · AU izi- the biggest stoglo issue of the
and though the crease in Far Eastern consump ception
notably Conservatives corpsssly avoided tlon la expected,
số oke owne
with and Jupes In India, any promise effective measures to reverse the
decline will the lang crop of course this would be one of materialles Payment diMcut- the main obesityes of long-term tree in Continental Europe may pallay, they know their return
conmination reduce
somewhat to mover was mainly due to the under the 1850-81 jovols, but in
DIE {"SKA", HERPENT" wonerit baller that they would JDK LAGI THAY bo SOTTU! affoed some immediate rexet. Is revival of the baile Industry. this direction, Red 100 Chowattos tackled, Thare. L. LUC ENBAUD
vre des grounds for anticipatifie be more dich hari ever for å røvIII.
incron con BARN-WINDY
On Thursday the market was off and on Friday it was sult more, Bethlehem Steel report ed on Thursday after the mar
On the curb the bly fireworks ket closed. The cost of taxes was readily apparent. In addi- came during the week from tion, Eugene Grace, the chair- Molybdenum which closed at men of
of Bethlehem,
4434. Bald strite
Its high-low for the
Singapore, Out. 27. tural steel brders hind 'been on year was 801⁄2-18%. Ön · Fri- Prices of rubber futures the decline for months,
day. St nosedived more than 10 closed here today as follows Other steel companies and points in the first hour, an Naber rubber per many of the bigger tallroad, trading in it was hasted briefly
1. Deuberkulos November reparted in the same disappoint until ar
paltern
market
was
Sabedor delive
On tlie Yesterday the hugo General | List
lint it followed by Butmis Metery Company reported | Zit., Fanpobytur Oll off VDEL profils for nine months cama to
Nodopl
pl - Petroleum vit 11700 117AJN AL 15, and Sew 3exico hertod. and Artzonn Landup ATMIRE exo, higher production costs, 214Associated. From
THAT ARO for the
Dedemter
Number 2 rubber,
Detober
Niweber 3. rubber,
Number rubber, e October
Root, rubber," thibaled. Black crepe key
14
-1534-43-
of
Domestic prices (though
1635-1035) mation without losiner, much of No sigaliowati vártation lay the 300 (30048 2 condicico ibai hos buen United Kingdom consumption, la 300-1000 ited: Pre placed in them:
exported United Pres.
ANOVERLAND.
NEW YORK-OBICAGO BETROIT-TORONTO MONTREAL AND ALL AMERICAN 4. CANADIAN CITIES
Guam, Mariana Islands, Micron gelan Istaticīa - Regular Serviso dirvot of with translijpment,
Vertel
From
Arrive
Ben Primolsce
Now
Ban Prod
BAILE
For
| Bai: İrfanetsco- & Los Angeles.
Bingapore Be Djakorta
San Francisco & Los Angolén.
For full particulars call United States Lines Car General Agonia, Queen's Bulidins, "TA), BU106..