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Port
Japan
1020
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Penang, Beinwan
Bell &
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14th
Nay.
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16th Nov
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A
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America
16th Nov.
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17th Nov
Now
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2154
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1B4
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Der 5th Jan.
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Nov. PEN 22nd Nov.
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21h
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KING'S BUILDING TELEPHONES: 28015 TO 28017 CHINESE AGENTS 42, CONNAUGHT ROAD TELS: 31196 25133
Senator To Attack Gold
COTTON
MARKET
Restrictions RECOVERS
Nov 5. New York Cotton futures were lower fay. The market experienced
with
Washington, Nov. 6. Senator Pat McCarran Fly heavy hedge selling and Democrat, Nevada. is ex-coniesion Souse prolit-taking
dealings, pected to try in 1952, for the in the early fourth time since 1948, to orses, extending as a little more "Prices sila Can $3
it Izate. persuade Congress to lift
sequently
worked higher Government restrictions on continued trade buying for mill and export account along with the sale of gold.
short covering, with a good part First, of rour . w 1
alt with it headth of the tosses recovered. to wit
Washington advice The 75-year-ok ve 11 low-i
Ballack completion maker
on Thursday
10
be un bo pital
se
of a German loan the Export-Import Bank up over detalis several has been held
"f the financing. An application we.ks : Reno, Neved:
cotton Joan recent for $40,000.000 Senator McCarran
from Japan and an expretedi speeches show he has been con-
request fren Spain for a $20- sidering the introduction of NJ
000,000 credit will have to be at freeing the m- ball troed
roviewed in hugh Washington gold tion's
miners Erum "straight
jacket" which he levels. The advices indicated. suld was om pe en font 1834
Two
additional private erop today. Lestimates were issued westimating the 1951 productin restore to mines the right to sell at 17,240,000 asales and 16,884.-
barius. respectively gold in opon markee around the O
Senator
Mcfao
The colon cop report will be assovd on Novem-
world and to buy, p ssess, imper next Governnien!
and expert the prova. yellow
1-12T
Miners iTi this Cots have had to sell their gold to th U.S
in for the past 17 years,
per fine ounce.
$35
situation, Mr McCurrana
ber 8. The Üctober estimate was 16,931,000 bales.
Futures closed 60 cents a bate lower to 15 cents higher than the previous close,
This believes, should be chang
.n
Decober
crder to increase pr: due in gold needed to build up the US Stockpile, both in peacetime and wartime Associated Press.
Matreil MAY
Warning
Of A "Cotton War"
Cairo. Nov. 5.
July October
High Low Clie 39.41 39 10 20 34-34 39.25 2833 39.6-13
38.6 38.51 38.00-15
38.25 37.90 38 10-13.
36.82-38.15 36.70
March ..... 38.47 36 20 36.40 gonilnai Midding Spot 40.25 nominal
unchanged --Assuciated Press.
NEW ORLEANS MARKET
New Orleans, Nov. 5. Cotton futures closed steady
to 70 cents a bale tower lo 15 cents higher. December March May
Egypt's Minister of National July Econorny, Mr Hamed
39.27-29
30.05-07 38.74 38.08
Zaki October
36.65 Pasha, warned today that Egypt Spot collon closed steady, un- a "cotton war" changed. Sales 5,297, Middling may declare against Britain it relations be 39.00Associated Press. tween the two
countries get
мотье.
Egypt, he said, had not yet Textile
taken
any measures to alice British milis
away
Marks
Market
Time from
Egyptian cotton production, but
New York, Nov. 5.
he added: "This could be
subject for consideration
સ nic-
The coton Alexide mærke: was
Anglo-Egyption dispute,”
cording to developments in the quiet today with buyers sil awaiting some improvement in the movement of Batshed grodo before making commitments for
of
Mr Zaki returned from 1 European bour today avaid
Press speculation that his trip grey con. Prices remained abou was to line up new customers unchanged to the closing jevels, for cotton now going to Britain. last week. Recen: price icercases
United Press.
pod-duck fabelos brought seme alackening in demand for
Coca-Cola Co. Dividend
New York, Nov. 1 Coca-cola Company today declared a dividend of $1 plus an additional year-end, dividend' of common, both payable un December 15 to holders of record on December 3.
The
of
$1
Those goods.
The wool goods market remain- cd dull, with dealers awaling announcements of new Spring prices by mills.
The cayon goods marko; was dull.Asscelated Press.
U.S. Yarn Output
Washington, Nov. 9. Company paid $1 in the
American output of Wool previous quarters, bringing the yarn in August averaged 13,000 total for the year to 60. This is pounds a weekt, the Govern the same ne fast year.
nient reported. That was 20 Coca-cola International Corper echt above the level of poration declared a dividend of 10100 pounds, the
previous 324,80 on common payable on month.--Associated Press,
to holders+ of. December 19
Decomber The 2
..3..
New York, Nov. $37 compared with $87,30 last $102.50 per short tonUnited
Press
AROOPKASHMda'the'' 1907: total to Copin was quoted today D
THE CHINA MAIL, TUESDAY, NOVEMBER 6, 1951.
CAUTION STILL NEEDED Qutlook On The London Stock Exchange
Peking-Ceyion Barter Talk
Calombo, Nov. 5. Chinese businessmen mað vhất Ceylon anon to dis- 1:2455 the possibility of tartering rice, cost and grain for Ceylon rubber, according to Mir A. S. Chatoor, a Ceylon rubber exporter, who has just re- turned from the Far East.
He said that the Chinese were willing to buy Ceylon Jubber al good prices and supply Ceylon with 100,000
within tons of Fice
the next three months. If their barter proposals were de cepted.
the
The Ceylon Food Direc- tor, Mr Alya Pillai, com- meoling on the offer, satā:
buy it i We shall price is reasonable.**
The Government is the soin Importer of Router.
rien.-
Economic
Pressure
On Reds
Warning Against Belief In Increased Profit Margins
(By NORMAN CRUMPI
London.
Mr Attlee can say with Mercutio of his moral wound, "'tis not 50 deep as a well, nor so wide as a church-door; but 'tis enough, 'twill serve.' But the real question is, will the new majority be big enough to serve the country?
That is the question which each of us must. ask himself, and he must ask it on the threshold
of a winter fraught with anxiety both at home HONGKONG
and abroad.
This is the immediate future, which the investor, in common with others, has to face.
it was
preserv
meusis o
The outlook for commodity Is good. The Roan shares
is non Antelope copper grund free to pay the higher dividends which it announced a fortnigh:
ago; and so are tin and rubber But both at home companies. and overseas, · The ebange Government does not us yet mean reduction in working costs or an increase in nroß! margins Caution musi
be the Inves or's watchword
SHARE MARKET
(From Our Correspondent)
The
half day's business
Stock Exchange the Hongkong
Business $700,272,50. totalled transacted during the morning and noon closing prices were: SHARKS BUYERS SELLERS SALES GOVT LOANS
4%
15000 4 081. $50,000 # 231⁄2 BANKS
Union
Underwriters
DOCKS, ETC.
MESSAGERIES
MARITIMES
MOM
Arriving
...Nov.
Leaving
"LES GLIERES" "FELIX ROUSSEL"
... Bec 6
Nov. 13
Dec. 7
"DOCTEUR YERSIN”
+"MONKAY"
Buy 11 -Nov, 28
**FELIX ROUSSEL"
{"BASTIA”
Nos. 11 Nov. 30 Dec. ទ DEL 7
.Dec. 24 Dec. 23
passengers & freight
Outward Por
Marcillos Homeward For
Indo-China
N. Africa & Europa
Manila, Saigon &
Marseilles
N. Africa & Karopu
+ freight for Saigon, Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Bubject To Chan ce
Without Notice
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, via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
(1948) 3
IK Bank East Asli INSURANCES
1500 1560 31870
12%
710
0.10
ol
HK Fre
142
K. Whare
A
N. P. Wharf
6.05
Dock
18.25
Provident
13.80 14.10 1000
M.S. "SALLY MAERSK" M.S. "LEXA MAERSK" M.S. "ANNA MAERSK”
161 371
400 500
500 371
1700 ST
6.80
M.S. "ANNA MAERSK"
54
M.S. "LEISE MAERSK”
1.35 1.80 2000 g 1.5% 123%
M.S. "GRETE MAERSK"
During the election campaign! ceasing to buy clothes, and there markets remained within bounds is not likely to be much spare The exuberaney caused by the purchasing power about during the dissolution was the coming winter, The same R.ws of quickly checked, and even when warning applies to luxury goods
that apparent
Mr generally--and even to the export Churchill would have a small industries, to judge from recent ajority, markets were quiet and reports of consumer credit restric- In this the investing in in the United States and hesitard.
€'sewhere. public showed good sense.
Looking first at the gift-edged market, I should expect the long- 3 Government socks to hold
Thus 3
was creen: Was Loan, which quired at 86%, may settle down a: about 90 My reason for say
this is that the current long- form interest rate of 3 percem Any probably high enough. aze by the Government of highe. interest rales, t> checking inflation, will probably be confined so short-term role For this reason I am a little mor. ¦ nervous about bonds maturing before 1270 than I am about the longer-dated stocks.
11:
the outlook for Washington, Nov. 5.
some ways
equities has beer Economic pressure by the industris
cleared by the election. Dividend other I'nited States and
Limitation should now be dead. anti-Communist countries island it is to be hoped that one o' making fe much more the first administrative acts of the difficult
new Chancellor will be to with- for the Chinese and North Korean Com-w Jast July's notorious White On the other hand, the Paper Willard
Government munists, Mr
has to ge FK W
if it cat. Thorp American Assistant through the witzler.
and so i may Serretary of State, declared witheat trouble,
aşk compatties to exercise some today.
degree of moderation and res Train." We must also are what 14
"Making Life More Difficult"
parorului
i
British
MILD RALLY
London, Nov 5
A mild rally in British indus- trial stocks eased the gloom of the London Stock Exchange 0- day after ve losing days in row
Government
bonds scored small gams during th morning, but shed them later and closed dull. On shares were mixed. Mining issues weakened from the on disarmament talk
UN General Assembly in Paris. The Fiuncial Times' daly index of socke With 130.7, u;
.5-Asociated Press.
form the promised Excess Profits Coal
Tax takes
Whey WANC feeling the p.non of such
cotion an:1 as petroleum, tratzspe: ation equipment.
On a television programme. Mo far. Thorp sald that depriving Comumas: of the things
o wage wHE
economic military
the they
of the .5 one
sup- steps operations
Acc. sep. he said, was "the speeding up of mobilisation and deferre production here at home
Rr
Amewan
As opped
Restraint should not be carried The investor, like every- one else, has to meet recen! rises in the cost of living.
Not
the new Government likely to lent itself to measures whose sole object is to remove alleged grounds for resentment - such nuts having been previously stered for polical ends.
By
Strike
Negotiations
Broken Off
Tokyo, Nov. 6.
Union Japanese Coalminers
wi masagament representatives
the same token, it is to be hoped last night broke off negotiations that the Capital Issues Com-, aimed
walk-out
Wheelock
LAND. ETC. HK Hotel MK Land S'hai Land Humphreys UTILITES
Tram
P. Tran Star Ferry
C Light (0) 94%
ཕ
47.30 3000 1721
Light (N) 6% 0%
C. Light Bİ Electric
Telephone INDUSTRIALS
Dement
22, 23).
1000
15 16.40 900 @
1515 15% 600 7 15,80
300 16.00
1000 16.05 1000
18.67
Hope STORES, ETC.
Dairy
2134
Wafsen
2006 22
18.00 19 300 g 100
200 18.7
2014 2594 Crawford 29 Sun Co.
240
200 123% COTTONS
Ewo
420 430 600 3.10 MISCELLANEOUS
Yangtz.c
4.10
..
1000
9000 4.75
The Rubber
Markets
4514-00 45-45
at ending the 72-hour Some 189,000
London, Nov. 5. Unions affulated with the Prices of rubber futures
Miners Federation closed today as follows:- Japan Coal went or strike
yesterday Number1 rubber. In centa
per lb... up their de- morning to back
December in- January/March (1952) 4474-45 mands for an 80 per cent
April/June crease in wages.
The 180,000 miners on strike July/September bring the
total of coalminers | 1dle to over 200,000. Some 35,- 000 miners on the Southern island of Kyushu have been out since last Wednesday.
Mr Thorp and the United States has been rustiching exportsmitter will shortly receive a very
different set of directives. This miners. China since 1949 and had pro- dif
tightened them until all should enable companies to bring their nominal capital into line trade with the country
the real value of thei! when the
Clunese with
assets, and so to pay dividends Kenza. But he suremed up the limita-based upon the true value of their effectiveness of shareholders' property, instead of on the embargoes against the Chinese by upon the nominal value.
ing that China did not rely so that a com- 071 imports
would ec-noult embargo the fighting in Kuren Calcare
inns
13.4.
production] supplummed
by the things which being supplied by the Sovie:
enemies
STAFF SHARES
mission in vain,
in
stall
Uri. . makes our Korea Lily self-sufficien. if
require- memeng their mility Dips--Reuter
TEXTILES
4314-24
42 nom. -United Fres SINGAPORE MARKĒT
Singapore, Nov. 5 Prices
of rubber futures elused today as follows: Number 1 rubber, per lb.
November
December January (1052)
147-148
24115-142
153-163%
15244-153 13134-157
Number
November
3 Novumber Nunber 1
rubber,
rubber,
November
No. 1 pale crepe
If so, this should clear the air for companies such as Imperial Chemical Industries to capitalise
The Coal Minors Federation part of their reserves. Hitherly many of them have sought per- is demanding 570 Yen per day and 300 Yen A project of for pit workers
surface
The wider interest was that put for
workers.
Number by Associated Electricni management contends that these forw to make a special issue wages ere higher than the pre- of shares to their staff on terms voiling wage standards containing a
Japanese element. This bonus was catched by the In- mated that the strike will mean and Revenue authorities,
who coal
a daily loss of 90,000 tons of cent of the coun- 60 per cent daily output. This assessment for income tax.
Electric industry workers are to strike. Their cbstacle could be removed only threatening
has been
project
IN
said that the bonus
DOLDRUMS
New York, Nov Textile business is bad
in
the Netherlands, a visiting pro-
reported. ductivity team
not as bad as
element
would expose the recipients to try's
newspapers
esti-
by a clause in next year's Finance scheduled walk-put Bill, which is many months put off until Thursday pending
Such a clause, however, nego ippon
ahead.
but would be well in accord with the to present Conservative atitude America Members of the team said large industry.
prices Inventories and falling have curtailed production in the Netherlands The Dutet team
Is spending six visiting
Ámerican Flants.
leader of the team of 22 sentatives of Holland's and cotton spinning and ing industry, said Dutch
less-Associated Press.
textile
was
Dupont Sales Increased
Wilmington, Nov. 5. Sales increased but earnings
rubber.
Spot rubber, unbuter Black crepe
1315-133
1522-1594
108-109
-United Press.
158-103
LONDON TIN
MARKET
5. London, Nov. Prices of tin fell shorply this morning and steadied at the lewer level. Turnover was 120 ions, all for "forward.
Prices closed at the end of the official morning session ag follows:
Spot in, buyers Spot tin, sellers Jusiness done at Three-months tin, buyers Three-months Un, sellerA Businesa dono at Settlement
DIG
no
D6215
110
B63-934
080 -United ProER.
ARRIVALS FROM U.S.A.
Nov. 15
Nov. 30
Dec. 16
Nov. 16
Nov. 30
Dec. 20
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
Building Costs
In S'pore
Singapore, Nov. Costs in building houses are rising daily. Singapore The contractors report. month of September saw a
10 per cent boost In
prices.
A contractor said: "Last Cluristmas we intended to sell pur lowest-priced house, with land, for $10,- 000. Today with the land and
piling, the cheapest Is $13,159."-Asso- ciated Press.
price
Shortage Of
Steel
Cleveland, Nov. 5. Three factors block hope casing the squeeze on steel sup- plios this winter, "Steel" magazine said. They are wildcat strike, a suvere strap shortage and swell ing defence requirements.
€ arw
Tel: Nos, 36066-9.
Exchange
Rates In New York
Canada dollary England-oficial
New York, Nov. 8.
US$0.06% 2.80% 2.38 bid 2.39 asked 2.79
unoMeis
30-day futures 00-day
futures
Austraila (pound New Zealand (pound) South Africa (pound)
Belgtung (zone)
Denmark (trane!
France franc) West German Deutchemark Holland guilder | Italyficial Norway, (kroneį Portugal (escado Spain (pesu) Sweden Krone) Switzerland-free
MIDDLE EAST Erypt (pound) Iran (ral)
Iraq (dinari Turkey (a) LATIN AMERICA Argcnune-officiat
Brazil (crustrat Bolivia (boliviano) Columbia (perol Cubu (pesa) Mexico (peaol Peru-free
Chile--free
Uruguay (peso) Venezuela (ballvar
In its weekly review the na- tional metal working magazine
of better FAR EAST the possibility balance between supply and 48 India (rupee)
Pakistan rupee) mand by mid-1952.
Hongkong no ed that a strike in Indonesia the Birmingham derrict last week Bingapore cest 7.000 tons of los production daily ontoge which cannot be made up and which will meso an order carry-over into the next quarter.
Last week's national Ingot rate! rose one point to 104 per cept of capachy, equal to about 2,086,000 net to of inges and see for castings-Associated Press.
New York Sugar
Market
New York, Nov. 5. Domoric sugar, futures No, ditsed one to three higher. Sales
Black
Pepper Market
57 och racs,
March
May
July
Beptember
$40 bid
13 nominal
5.40.1
Japan
2,201
.0198 .1456
0020-9/16
4.20
2630
110894
.1904
1347
12
0935
2.83%
03125
2.81
5275
0703
US60
0150
4825
1.00
1100
0050
A175
2005
2103
2030
1706
3040
91.05.
300 yen to US$1
-United Pris:
Grain Prices
Fail To Hold Gains
Only small were recorded
on
Chicago, Nov. 5.
price changes in grains the Board of Trade today after the market failed to hold to an early bulge:
OTI
and prospech weck brough
Cold Weather 552 domine: for exports this World Alger futures No, & closed buying into all cercals during five to 11 lower. Sales of contracts the drst few hours. Corn and
The
Times com- mented: "A prolonged dispute in these two essential industries could
paralyse the nation's Meanwhile the country has to economy."-Associated Press. get through the winter. This re- minds us of such problems as the weeks balance of payments and the dollar gap; prospective shortages of coal, fuel and transport, as Joban Anton Panhuyzem well as steel and many other raw repre-materials,
burden of The rayon rearmament will grow, and we weavstill have to see how the new manu-Administration will tackle the facturers stocked up on
raw twin evils of inflation and ex-dropped during the first nine cotton last year, when scarce. Now, he said, they find cessive Government expenditure months of 1951, E. I. Dupont de their cotton worth considerably hose dangers are a formidable Nemuurs and Company Incor
porated, reports.
Net income for the first three of the year totalled quarters $159,090,040, equal to $3.34 per common share, compared with The position of the Trey on of the utmost importance to in period of 1050..
position of readily availṇble Sales, however, rose from November 1, compared with the ves.org. “First, how big is the
surpluses of blicit pepper margin betw corresponding date a yeur ogo:
bolwoen 8: company's $927,502,749 to $1,150,723,049,
Du Pont listed $60,000,000 in today, although buyers were November 1, 151 $230,110,3,010,07 earnings and dividinda? Second,
alow in
responding to November 1, 1950 $250,797.670,27087 is the company engaged in an dividends from its holdings in Total assett.
essential industry
General
grafi Mokots Corporation stock higher basis. November 1, 1981 $22,233,053,019.31
Dealers Indicated $1.70 per JAPANESE BONDS higher GOOD INVESTMENT compared with $10,000.000 for November 1, 3050 $23,240,425,113743
pound for small lots in ware- Rearmament shares should the first nine months of 1880. myAssoclátod res
turn out well as a medium-term A total of $275,200,000 was got oisas $1.00 for five tons and $1.07 nur potind for large investment provided Dat he aside for taxes and other Federal Dividend Announced Conservatives E.P.T. proposals fees during the first three quaruntities—United Press,
are framed on senge howlers of this year, compared with Makers of bricks, comment, paint 8123 G60,000 for the perlod
Rand General Motors Corporation and other building materials of in year--Associated Press Exchange Rates today destored a și dividend on should benght from the Conser Karachi, Nov. 5, common shares, payable on valve promise to give housing The Trade Marks iegistry is up
Bushings was done in the focat
U.S. TREASURY
Total do
Washington, Nov. 5.
.
New York, Nov. 6.
list.
Therefore, as the winter pro- gresses, most industrial equites of a semi-spoculative character are more likely to fail than to rise. Two que
New York, Nov. 5.. The unbroken dock workers"
questions will remain $218,627.099 or $4.87 for the same strike acted to strengthen the
December 10 to holders of re-priority second only cord on November 18. The some ment, and allo
10
private
January March May The Boptember Haw sugar bot
tho
market tils.
exchKilre
stering finter" (phroli Brand, Japanise applications for 12 ofiars ther 1). quarters this year, bringing tile The autoak for taxies is less trade rogantique,« ikke Pekin Indonesia suijders, iar jodi 1951 total to Asseclated cerlain, Even before Mr Dallon's enl Ministry of Commerce Amonitor 184)
Antipore (8KIBRO, notorious speech the public were i Announced today, - United Press | Fic Limiters (per 100) ad
"amount was paki di previousing, he allowed to revive now accepting German; Italian Emorning at the following rates
4.03,bld 403 bid -
12.03.bla 4.23 bid 10.00 nominei Associated Press.
the largest gains. pats mode Later, prices allpped with goybenna doveloping the most weakness. Wheat alno gave up all. fia gming.
Wheat closed lower to higher, Corn unchanged to
Osta - higher, Rre (new stylo) 1⁄4-1% lower, Soybeans 1-2% lower. 50% Whess'
Landon, Nov, d. Japanese bondka
JOZ. SKOTH of 1010) *** (EL of 1907) of 1934) ** (816, of 103 Console
United Prean,
December
Tið Mareli
July 64% Boy bean
November Janopy Marolt
NY Bank Stocks
New York, hav Closing bank quotations
Beptember
Ryo