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ARRIVALS
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Europe & Singapore Japan
SAILINGS
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Japan via Manija
Manila, Bingapore & Europe Japan via Manha Mankia, Singapore & Evrope
28015 TO 28017 ROAD C THS: 31996; 75139
KING'S BUILDING, TELEPHONES: CHINESE AGENTS 12. CONNALIGHT
Long
Predicted
Trade Upswing
U.S. Under
In
Way
New York, Nov. 19.
THE CHINA MAIL, TUESDAY, NOVEMBER 20, 1951.
Empire Nations
Accept
London Meeting On Financial Crisis
London, Nov, 19.
All the Governments of the Commonwealth nations
Japanese Minister's
Statement
On
Big Slump
:
Reparations On London
Tokyo, Nov. 19.
Japan's ability to meet war reparations and have accepted Britain's in-le consider possible future rearmament will hinge vitation to the London con primarily on how far it can replenish its war- ference next January on depleted economic reservoir, the Sterling Area's critical financial situation.
mine
Commonwealth
Th countries will be represented y their Fannie Ministers at talks, which open on January 15, and are export
! To Die E Wik
Tay
India, ate
Britain. Cansa. Australia, New Zea
Africa ond, Sout}:
This was outlined today in a broad statement of Government policy by Mr Iguchi, Vice-Minister of Foreign Affairs.
Exchange
London, Nov. 19. British government funds slumped heavily on the Stock Exchange today as £22,000,000 was slashed off the market value of the
Mr Iguchi, who spoke in the name of Prime Minister Yoshida's Government, also disclosed to the widely held 3-2 per cent Associated Press hat:
1. Japan is ready to conclude peace treaties with other coun-
the they are Pakistan,tries provided
same or substantially the same £ y'on and Southern Rhodesia
as the one approved by 48 no- br preceded
erdotions of San Francisco. werk' meetings among 2. Japani
with apply
The talks will
for Commonwealth financial membership in the United Na- infor and E-OWNE experts. why Lions 45
as the
Peace
will review the sterling dollar Treaty is ratified and will sup- mat on and draw up statistics port the UN as best as it can even if its application is reject-
Idea
HONGKONG
SHARE MARKET
1: $241,396.
and the morning's
· transactions:---
HK Bank
war loan.
I dropped 25 shillings to £82 10s, the lowest price it ever had hit on the stock market.
The rest of the gilt-edged list also
plunged downward with losses ranging up to
16 27/8.
More than £300,000,000 bas been knocked off the market value of British Governmen
es gince Juar before the
Issue wib fail.
election on October 26. The market was disturbed by for the Ministerial conference.
news from Egypt, along with Several Commonwealth Gov-cd
(from Our Correspondent) uncertainty concerning the WETU understood 10 (inments
3. A strong bond of friend- Business dane on the Stock trend of money rates and a hav also expressed the genera
ship has been forged between Exchange this
was morning
ballet by
by some financial experts тек of reviewing the progress Japan and the United States and valued
Noon that the forthcoming
£14,000,- of the £1,868 taces no immediate threat either quotations 2nd prospect.
900 Lever Brothers debenture million vix-com; Colombo Plan within or outside Japan for
developmen! A 4. Trade relations with Com-, SHARES BUYERS SELLERS SALES South East Asi.. munist China will continue to ¦ BANKS
for be governed by the UN embargo Tetilative meeting of the Colombo Plan"> n shipments of strategic Consulta live Commuter have|terials to China or North Korea been
To place made bui
as a result of the Korean war. dates have ye brun agreed on
Increased trade with Singapore 1;3ና been suggested other Southeast Asian countries
venue for such has aided Japan in replacing¡
Chine sp
Sinuth
conference
es the possible
The Consultanse
is not likely
UI
D
markets lost on the
Committeenland.
to meet in Lon- don at about the fame time as the Finance Ministers' confer ener as this would add to the arenda and the Commonwealth Ministers.
work of
the
All the Commonwealth coun-
JA
thr
The
United
103 ដររ
SINCERE INTENTION' It is the sincere intention of
to deal with my Governmen the reparations problem in full confinity with Article 14 at the Peace Treaty," Mr Iguchi wild
es cxcept South Africa are 1 ne treaty provides Japan: | participants
Colorabe must pay reparations to Allien States is powers for damage and suffer ¡Plan.
advisorying caused represented
by It during the Capacity On the Consultative second world
But war. recognises that Japan's resources at present are not sufficient to
Storekeepers began reporting better business Commliter-Reuter.
and it looked as though the long predicted up. swing in civilian trade might be getting under
way.
Chicago Grains
the Edge Upward
Defence ord: rs continued to hold industrial production at Figh levels. The outlook was a little brighter for the sagging textile industry as
millions of yards of Army called for Eids on material.
The
Jhal's
There were some declines from
preliminar the previous week an industrial estimate for the mouth was 22 produrtin, figures. But the overs ¦ per cent of the 1935-39 average ali trend was high and the easing : compared with an estimated 219 was due J good part to such in September. The high for the unmanageable
factors as the year was 223 in April weather.
wa H speli
uf
Industrial production remaineo ot a steadily high level Stre severe i production was a hair over the weather, for instance, that cul previous werk and a ittle unde down freight carloadings 1.5 381,759 from the previous week's 407.389
a year ago.
Electric power production was
at a con high for the third But 1 was the same cooler
successive week. Engineering wea her in many sections Ut
awards were $312,983.000. a by gave a shot in the arm to retar business. Weather and reduced over the previous week's
price promotions combined t lir: the dollar volume of relau trade
$158,525,000.
.
Chicago. Nov. 19. Grams edged upward in ine
jest hour of the Board of Trade today erasing earlier losses and
nding with Volume remained on the low side.
Bru Lanc
make complete payment and slil its other obligations.
No formal reparation: negotiations have been started yet with any country. Explora- tory discussious have been held with the Philippines and In- donesia, two heavy claimants against the Japanese Gover- ment
Mr Iguchi said
formula has been devised for the pay
reparations but the ent Government has established a group to study the problem
"Amons the factors
doter- mining the speed of reparations will be the side and payment
well as type of reparations ai
of
Do
Soybeans, which lagged last weck, were the first to show Armness today. In part that was in sympathy with gains the state of our economy," he cotton at New York
2
Mostly the market appeared to be in watchful waiting mond. The only export business was the sale of two cargoes of hard wheat to Holland
Whest closed -
Corn was 1 to 2 vents higher Outs were % to 3% higher Hye, now style, was to 2 enis hugher, Soybeans 1400
higher
Further expansion was being carried out by malty industries as defence orders took
Dun and Bradstreet, the large proportion of the business insiness reporting service. said Associated Press. retail dollar volume was at the¦
highest level of the
year and
moderately above the record level of a year ago.
Many
merchants who have: been predicting E record Christmas business reported that It looked as though the holiday boost already was under way.
INCREASE EXPLAINED The Nationsl Association of Mutual Savings Banks said its Christmas club deposi.ers will
UN Planning
Food Output Increase
Rome, Nov. 19.
The 66-nation conference of
receive $181,332,287 for Christ- mas shopping--an all-time high. the United
Nations Food and
Dun and Bradstreet said the Agriculture Organisation (FAO) retail sales met here today to plan an attack markedly increased
fortion.
in the cooler sections reflecte world hunger and malnutri-
the
accumulated
demand
apparel which had been building
and
ed
The
to
were
1/2
Wheal closing prices. December
March May September
Soybear January May July September
Corn December
Oats:
December
Rye. New style: December
to 24
$2.0035
2.03 -0. 25831- 2.50%
3.031-* 3.014-02 2041%
1.000 -30%
1.00
-0012
2.0356
Associated Press.
Ford Motor Co. Assets
Boston, Nov. 19. The Ford Motor Co. today reported
its assets on Dec. 31, 1050 were $1,469,091.000-up
sandi.
Mr
VERY GRATEFUL
the
declared iguchi Japanese people are very grute ful for moral and material as
the sistance given Japan by United States during more than 31x years of occupation,
Underwriters HK Fire SHIPPING
Asta Nav DOCKS, ETC.
Whort NP Wharf Dock
2600 1010
Most other sections followed this lead and were dull.
50 100 10 1600
Coppers and diamonds resisted G1005 the trend among mining issues. 59 1600 The Financial Times' daily index of stocks was 127.0, off 280 1.3.
MESSAGERIES
M
"FELIX BOUSSKI."
"BIR HAKEIM“
Arriving
Dec.
Dec.
12
£
MARITIMES
Leavina
Dec.
7
Dec. 18
MONKAY"
-Dec
Dee.
5
***FELIX ROUSSEL"
+
Dev. 7
*"BASTIA"
.Doc
25
Dec. 21
•
passengers & freight
M
Outward For
Morgelles
Japan
flomeward For
N. Africa & Europe Manite, Galzon. D
Marsellen
K. Africa & Koppe
t freight for Saigon, Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp &
Rotterdam.
Subject To Change Without Mottos
CIE DES MESSAGERIES MARITIMES
P.O. Box 68, Hongkong
Queen's Building (gr. floor) Tel. 26661 (8 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vin
SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
East Asia INSURANCES
Union
125
779'2
50
20 Japanese bonds
140
"A" (4s. of 1899)
"B" (45. of 1910)
582
1.40 1.55
100 201
"C" (5s. of 1907)
111
"D" (5s of 1934)
77
M.S. "LEXA MAERSK”
Nov. 30
6.30
"E" (525 of 1934)
124 12
M.S. "ANNA MAERSK”
Dec. 18
10.76
102
2060 @ 13%
Consols
62%
M.S.
"LEISE MAERSK”
Dec. 31
35cd 200*30*
-Associated Press and
United
100
100 $9 34.
Press
ARRIVALS FROM U.S.A.
5.75
8 1500 0.45 2005 $
NEW YORK MARKET
M.S.
"LEISE MAERSK”
Nov. 80
New York, Nov. 19. Prices slipped
MS. "GRETE MAERSK”
Dec. 20
a little lowes
M.S.
"OLGA MAERSK"
Jan. 6
Providem Wheelock XD
LAND, ETC.
1K Hotel
14K Land Humphreys TUTTES
Fram
Star Ferry
868
.. 3115 52244 1215 123
12 600 16% on the stock market today in one of the smallest full sessions
C Light (0)
30 60
9
132
EBS
925 600 6 9.85
In months.
75000 0 0.00
5000 A.70
Most
C Light N
C Light (13)
Electric
Elec. (Bonus)
Telephone INDUSTRIALS
Coment STORES, ETC.
Dairy
Watson
price changes were volume
8000 @ 0.75 small fractions. The
1000 * 8.85
1000 0,80 man to around 1,000,000 shares. 1800 G ED There was no pressure on prices 500 g and no violent waves of selling.
800 27 0,35 3000 0 0.80 935 9.65 1000 00 9.7
2000 0.05 500 9.50 222 234 1600 -
14 215 000 à 213
1896 2015 2400 15
15:30 15.50
1
2000 @ 18.60
Allied Chemical, Du Pont and Eastman Kodak moved ahead fractions But Air Reduction, Dow Chemical and Union Carbide avere equally slightly on the down sid-
Declines included Steel,
Bethlehem, Repu
Sheet, General
Motors,
Rubber, Internationel
1000 @ 10.59 Boeing Aircraft, Zenith, 1Con-
25 25 800 234
Sun Co. Wing On COTTONS
Ewo
24
5011
H..
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
Natural Gas, Anaconda, PENINSULAR 1000 25 house, General Electric.
740
2.50
York Central, Nickel Plate Sinclair Off and Johns Manvile.
New
།།
1000 ₪ 360 1000 @ 3.90
Less Building
In America
Washington. Nov. 19.
"They are equally grateful for
The Bureau of Labour the consent of the United States
Statistics estimates that the to maintain armed forces in this
number of new honnes started in country which would otherwise October fell of about five per be naked against aggression," cent under September's figures to ardded.
86,000 units. Declines
reported Atlanta and Indianapolis, and increases in Baltimore, Chicago, Denver and Kansas City.
"This feeling of gratitude is one of the main bases of the trong bond of friendship which bas bren established between the United States and Japan. I know of no real threats to this friendship, either within Japan or outside."
Mr Iguchi said the Korean way and Japan's inability to meet armed
attack
necessitated
were
in
The Bureau sald activity de- clined the most in the Southern and Pacific States.
For the first ten months of this year a total of 942,500 new building units were started.
This was greater than in any request by hi country that other year except the record of kept in 1950, when 1,215,100 units were American troops Japan after the Occupation started during the first Associated Press.
ends.
plete the
months
ken
Among the advances were Phileo, Emerson Radio, Southern California, Edison, Mclatyre Mines, American Can, Philip Morris, Chesapeake and Ohio, Gulf Oil and US. Gypsum,
Dow Jones averages: Industrials
Raile Utilities
259.70 €0.53 48,45
-Associated Press.
Philippines
To Hold Trade Fair
Manila, Nov. 18. The Philippines plans to hold a trade and cultural exposition in 1953 to show the country's economic progress since its in- dependence five years ag
Tel: Nos, 86066-9.
& ORIENTAL
QUIS NOS SEPARABIT
STEAM NAVIGATION COMPANY
R.M.S. "CARTHAGE”
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
THURSDAY the 22nd November at 12.00 noon for the UNITED KING- DOM via Straits, Colombo, Bombay, Aden and Port Said.
ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTÓN ROAD ENTRANCE. BY NOON on WEDNESDAY the 21st November.
\SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co's Godown for loading
on board by ship's slings only.
Commerce Secretary Cornelio Balmaceda said today that the exposition, to which all UN members will be invited, sill launch an export drive and
Hrade. publicise tourist
Balmaceda also said The EMBARKATION: Philippines is seeking to hold a meeting of the UN Economic Prices of fin were quiet and and Social Council in Manila
LONDON TIN MARKET
London, Nov. 19.
a little easier. 25 tons,
Turnover was in 1959.
it rasulled in the United Stats- Japan Security Pact approved las. Sunday by the Dict (Parliamen) Upper House along with the Pesce American Director-
Treaty. Both were signed by General. Mr Norris Dodd, open-
Emperor Hestion procedure. up during the warm weeks.
today to com Women's
sults
The three-week session, coats which is expected
call for
STRAIN TOO BIG children's toggery and sportswear got the bulk of the attention. The far greater co-operation from its
"We fully recognise that, as a interest in men's
wear wasn't member nations in stepping up
sovereign and independem na.ton, food production. quite as keen.
at the end of Japan should not seek to rely Some economists were predicl-
A report prepared for the con- $120,742,000 over the previous forever on another county for the official morning session as ing that
ference stated that 1,300 million new orders for con-
her own defence,'
Mr Iguchi follows: company's financial
Bnot in, buyers survers 214313 durable goods, people-over half of mankind-The
with said. was filed
Spot tin, efters had not especially textiles
"But the simple fact is that Business done at to eat. LastMassachusetts Tax Commissioner prose enough apparel,
year saw a slight increase ja
prosent day Japanese economy Three-months ปท would have a more than seasonal food output, but it was mostly Henry F. Long under the State could not stand the strain of an Chree-months tin. sebers. STE
law which requires filing here.acmament programme with is Settlement
Business done at Production in areas already well fed. Mr Dodd warned the
and
increase in the coming weeks.
The
National
con-
year.
statement
name in this day and age. Mere- over, many persons both in this
The statement signed Authority gave a preview of the rerence that expanding rearma-by the Treasurer, L. E. Briggs, country and sbroad still fear,
Henry Ford II, President, and shar goods during the firstment may threaten even current
in civilian
and seven directors reports
cutbacks
modest plans for betterment In 16
that earnings retained for use resurgence of Japanese milkarim
12
quarter of 1952.
The items will range
We would, therefore, prefer to com under-developed countries. from
in business in -1950 were consider arming caly after conc television sets to jewellery and The conference is also CX- |$623,789,000———— gain of $59,-mic condtions as well as national sw.olting accessories. NPA said. pected to approve international 357,000 from the
preceding and international sentiment make Locust control agreements for
year, and plant protection.
permissible. This desire, I report shows the Ford Armly believe, I shared by the The conference is meeting in Motor Co. bos authorised Japanisc
new building of its head 20,000,000 shares be cut to at least 50 per cent of a
people as a whole," of common Associated Press. pre-Korean levels through re-quarters. The Italian Govern-stock with a par value of $5---
ment handed
HICL PREDICTION Output of such products will
duced materials allotments.
The
it over to the Associated Press Economists predicted a slightly FAO at brief ceremony before upward
treadi in the cost the opening of the conference.---- of living and pressure for wage Reuter.
Increases..
Dun and Bradstreet's wholesale
Japanese Fair In Taipei
Seeds And Oils
New York, Nov, 18. Taipei, Nov. 18.. Prices in the seeds and oila Nine
food price Index showed the Brat Soybeans For Poles
advance in six weeks. Higher
price tags were forecast on new
Talpel, Nov. 19.
Prices closed
The Council holds two meet- ings a year, usually in Geneva or New York, but last February it met in Santiago, Chile.
Mr Balmaceda srid the Philippines also requesting bayers 8 ECAFE to hold the meeting of
B00
$60
1A)
ist
special committee on trade
its
155-950
0021
promotion in Manila to coincide
-United Press.
Rubber Prices
In S'pore
Singapore, Nov. 19. Prices of rubber futures closed today as follows:- Number 1 rubber, per lb.
November
December
January(1992)
with the projected trade fair.-
Associated Press.
Will take place on Thursday the 22nd November between 9.30 am. and 11.00 am.
APP
New York Sugar PATTISON ORIENT LINE
Futures
*LIMITED
New York, Nov. 10. 1405-146 World mugur futures closed 137%-340 | today : 1 higher to 2 lower, with
3. a. "LAUBE PATTISON" Number & rubber, November 130-138 sales totalling 80 contructs.
Contract No. 6 closed 1 to 4 Number 3 rubber, November 131-122})}, Number Grabber. November 1979 tower, with sales totalling B2 Spot rubber, unibeled... 132-141) contracta. Backeropa
0000 -147-10314
Prices closed as follows:- -United "Prem.""" | Contruct No. 4 (world)
January (1938).
4.03 bid Aarh
4.31 May
4.00 bi
No. 1 pale regis
more Japanese business Exchange Rates
sxollange", "market*thia, spol
The 5. S. Woldsing Hamhill market here closed today un- men arrived here from Tokyo homer and other construction of the Sino-Polish Navigation changed with the following ex-yesterday to participate in the Burgess was done in the laċad | fistikerober | foxprojunts.
Company OD November
Japanese Products Fair sche-tomcla Mostwhile,
ceptions
13 morning, at the following ratsalder Contract Ma.. the Federal shipped 9,000 tons of Manchuria- Linseed Oll, in tank cars, New duled to open on November 2011 Doddy (per, #1)(pokane 008 Marsh (1908) Reserve Board reported that in produced soybeans to a Polish York, per lb. 21.4.
There are now in Taipei #1. Sterling notę (per £1) Je dilatrial subitigion In Gelaber] port trotz Dalcon, the China Flax Seed, per bushel, FOD.Japanese businessmen who have Indoni iliders (PAR 107)
reached the highest level alues Union Press reported here to- Minneapolls, 4.07% United come to take part in the fair aingapure trailma
Biam- Alemin K per 1,97 clay-Reuter,
Press
Touter.
June,
|FIC "pindiens (per 100)
200 July
181Apo
4.50 bia
-430-bid
4.70
好吧
6.40
sed Prem..
12-14 Queen's Road C.
Dus From:
Kobo
In Port
Sails For:
DIRECT Pustn Japan, Nov. 29ME,
Chinono
Agents:
Tel: 26446.
OVERSEA CHINESE, STEAMSHIP CO., LTD.
48 Bonham Strand W. Tola: 26046, 20127 & 31119