MARITIMES
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Manin, Yokohama &
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Marseliesta Manika
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Aprica & Europe
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freight for Saigon. Port Sud, Tune. Algiers, Oran. Tangier. Casablanca, Havre, Pankirk. Antwerp Rotterdam.
subject to change tha
CIE DES MESSAGERIES MARITIMES P.O. Box 53. Hongkong Queen's Building (gr. floors Tel. 26651 (3 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
rates wi.I
The
meme and Fis tation's
practices or that she may be creating undue complications
$xreising expor; and port controls not called
MS.
"ANNA MAFRSK"
M.S
"LEISE MAERSK"
Fo
M.S.
"GRETE MAERSK
an spe
country
eething furwa 1 extrace te wil; oba a ne
market price
THEORIES EXPLODED
Anouncement of these
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פו וין
And imports
with aged, although, the by the realities of the current stil: was spending more al non-ar ions and
actual economic conditions that of was warong
thi Form རས་lyuekh Lale of $1,500,000,000 a year Japanese trade The police-
t
In additus, M Churchill's been given hear Government Trew
States list by The United
American economic help
De wii themes that wen ante fer canvassed
e it became
The Book of England Course replerlerken the unusual
alesga meriing of foreign ex- Saturday Belange dealers
Near
USED CAR SALES
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1
Tonexion Wix Fatpls drawn that this
basis
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ARRIVALS FROM U.S.A.
M.S.
"GRETE MAERSK -
M.S.
"OLGA MAERSK“
11
M.S
"JEPPESEN MAERSK”
being followed by Japanese Government will -how. that such misgivings Ar groundless
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Per 20
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87
Jei [6
Dec. 22
Jan.
G
Jan. 14
For Freight and Further Particulars please apply for
AGENTS:
JEBSEN & CO.
known
up to something he $300.000,- the by expert ill 800, max
mon has. Dea
the
1 pa ako bas put in for- and express to get big slee
STERLING AREA The Minister wrote in uection with the shortages
"Further aw materiais.
T
ነገ
xtent the PURINA DE
atterns on
111
Jiger:
2
mi-leading!
: Tude
f
Chiches
heavy volum menbuir et
IP
The Resneglenange
xange vale way authoritative recy
the 1-rd
lealers Cl enly. It is worthy of une, tha! sic jers ani and-hand chicas lust you
PT in the Sterling peopis Some
would rate
CANADIAN REACTION
be
of the inditary help in supplies pansion in the volume of trade 1 rativr before Japan and equipment which the US.
attem available under the car
economic is making 1) security programme — ¦ sullleiency
Ble
1 "Cuerying-out Associated Press.
hrs been bilateral agreements Indured more d.leuli recentiy
world conditions because of
js
elf.
Pedder Building
suid
dol-
oli
114
1 2 900,000
Curvet midast.um
1
1 year used the
dre considerably
Male below that
The new arrangements man
in
Tel: Nos, 36066–9.
KING'S BUILDING. TELEPHONES: 28015 TO 28017 GALINESE AGENES 23. CONNAUGHT BOAB, C H LS: 31996, 25133
ECONOMIST'S THEORY:
Increase Price
Of Exports To Beat Inflation
(FROM OUR OWN CORRESPONDENT
London, Dec. 16.
a
The view that the price of British exports should be increased as an essential step towards Press disinflation has been put forward in article by Mr Roy Harrod, the well-known econo- mist. This should be done, he said, even at the cost of losing marginal markets,
Mr Harrod's view is based on his belief that home consumption accounts for only a small proportion of the demands made on our manufac- was doubtful, he said, if turing capacity. It contraction of consumer demand could make a very big contribution to the total contraction required.
Cal Government spending, our although tremendously
tant for the lead they
could not carry us over
the
industries de-
greater part of the road we had, fore to increase our exports of
20
to travel.
our arms programme was
sumer
engineering impor- which are now busy on
gave, fence orders or soon will be
The present policy is there- other goods--chiefly such con- pot- goods
as textiles,
narrow tery etc.in order to the trade gap.
Exports of these goods, how-
have failed sufficiently to offset the rise in the cost of our raw material for imports, and one reason
to be fulfilled, he went un,
drastic cut in capital
inevitable but we
10
outlay
could
ever,
big cut
in
Wats
not afford to superimpose that cut another
וס
capital outlay to make way for more exports.
to increase
this is that the sellers market for such consumer goods has
and virtually disappeared buyers market has taken
He disagrees with the com-
exports mon assumption that must be increased in order to improve our balance of trade. Instead, the price WC obtain place.
sume reduction
રી
policy
would be
a its
of
from our exports must be in-
JAP COMPETITION of the cost creased even
Moreover, the diffleulty volume. Such
of our exports selling many disinfe-
of consumer goods is likely to the greater as tionary since it would release become even
full effects of Japanese and
competition
begin la felt themselves
fa So far from being able increase the price of these ex- ports we may soon be under
of
or other purposes.
regular "most orderly,
raising ex- and fair way port prices, he argued, would be by revaluation of Sterling. Failing that, however. some
German mako
other method of raising export pressure to reduce them prices should be adopted.
we en- which
de-
If, on the other hand, of our raised prices without raised the It wo much loss of markets, he said, gineering products, for we should make a considerable there is still the keenest
would sooner improvement to our balance of mand, this
modest con- tuter be rejected in the costs
and
trade make a mod
tribution by
tion by way of releasing of raw material production
capacity for the arms drive.
shottage samme your can la 15 at even with higher fever under can be
1 stets 4,000
put fre
All the a letale for all men.. wanked requer al
Whether the male any
י
Monoght
יין
level, refeeling the decline new car fansaction from: fast yent's revod tak.
ticians Oc ober
tims dropped
The extent of the shang in new em sales is shown in the 1. Pulk inmiting report of R
auto milastry statis- This
in! that Shows
registra- 373,162 11 was the first time stuce January, 1950, that crew cat regstrations had fallen below 400,000
desart The statistical areny attempt in explan the drop. It hows ver, that appears mident. threatcurd work lay-offs, plea inerenges and the imminerure of new models figured in the dr cline that began soon after mid- year.
WEEK'S OUTPUT
this output Motor vehicle week will consist of 87.350 ras and 25,539 trucks, Ward's Re- ports said.
cars and Last week 90,306 22,105 trucks were built and in the ke week of 1959, 131,875
32,443 trucks cars and assembled.
nosed in relation to the
a general feeling (PENINSULAR
Toronto. Dec. 16. Members of the Toronto Ther while others were equally
were Jubilant the bitterat
be reconsidered the prospective in- tent that the Pound would Stock Exchunge
would 14 devalued In the event bolt Today over
creases in trade which se proved wrong
resuit From The removal foreign exchange restrictions.
Mr Donerty. President of the
2
1 m tumor aw (Monday).
of
system needs 15
Japan strongly desires participate in world trade a multilateral basis and
In this direction advance every possible opportundy ba:Telpale by Chrganisation Payment the
the this time since Septem- Exchange, said the move show.
1939.
London that Canada's economic posi the
3.
| Harign exchange market, which | tion
is compose the
commercia!
was strong enough for This had been indicated
Lenks and a handful of foreign the using exchange value of
change dealers will be operat
ng fully ite Owl
SHOWING RESULT?
London, Dec. 10. Anubes tiese of bad news is being ceri
Ledin
Sti
the British
.:
near-record
E par
Canadian dollar almost with the US dollar.
Mi Clande Highmore, Super- VISOR
of Foreign Trade at the Commerce. Canadian Bank uf the abolition
control egulations was bound to come Inevitable but it was
d
und soni regulations derling more than $700,000,000 that Canada could not give up. in the nation's gold and dollar the
mitsure of freedom was reach- E-ch with regard to dealing
SCTE
may
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T
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pes-able
te!
t、!:
wil
a
also
desires
elitels
it
Europeat
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"Japan hopes
10 Ever
ade with the Sterling Ares to
tigate the dollar shot inge United Press
Suggested Allocations
Of Ores
SAILS:
AQUS NOS & PARKETT
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CORFU”
NOTICE TO PASSENGERS
BAGGAGE:
t
THURSDAY, the 20th DECEMBER 12.00 Noom for the UNITED KINGDOM vin Straits, Colombo, Bornbay. Aden and Port Said.
All passengers baggage must be sent 14 the Hongkong & Kowloon Wharf, Co.'s Godown at No. 2 Gate, Canton Read Entrance by Noun on Wednes- day the 19th December.
But remoncier signs suggested · Steling.
in the righ was a step of things this may be a panter getting wo"SO before they get direction to see reluxation of the beiter. that Prime Minister reign exchange regulations, he Churchill's drive to win solvency, auded, as in the last analysis
Washington, Dec. 16 Britain actually
Bothere was no truer reflection of
The Committee cur- the value of the nation's showing results.
rency than the open market-national Materials
may announce this week deci- sources said the United Press.
sions on the distribution at ore! SPECIAL_NOTE: With the exception of hand packages nation s reserves would show the!
concentrates and primary pro- $700.000.000 decline at the close i of the current period
Government
ending
:
three-monti. December
31.
HONGKONG were
This would be $200,000,000 mare | than the staggering drop record-
period.
Ward's estimates car outputed in the previous three-month for the
of thr Anal quarter year will come to 1,065 000 units against an allowable production
The agency of 1,100,000. pects the year's total car output to reach 5,335,000.
buil;
€ 672,141 were sociated Press.
Last
ex-
year Ax-
: would leave Britain's re- rves at around $2,500,000,000 and this is only about $500,000.- n00 above the minimum amoun: needed to conduct the Sterling rest of Arca's trade with the the world.
SHARE MARKET
of the Inter- Conference
ducts of those metals.
In its weekly report the 1.M.C.
the said
Committee has made
Interim recommendations
1..
member governments for dis-
tribution in the first quarter of EMBARKATION: next year. It recommended that future distribution should be ori
rather than
six-month three-month basis.
j
The
Conference announced that Argentina, Austria, Greece, (From Our Correspondent) India and Spain have accepted Invitations from the cupper, zin. The volume of business done and lead Committee. That Com
making progress Exchange this mittee is same old, on the Stock
valued at $230,- discussions on next year's alloca- trade-gap difficulties buying morning was
Noon rates and the tions of copper and zinc.
decide 1.M.C. have The more abroad then she could sell 514.50.
In
The decline Was mainly to Britain's
attributed
Rubber
Singapore
Singapore, Dec. 16. of Prices
rubber futures closed today as follows:- Number 1 rubber, por Ib.
December
January (1952).
144-144% 14216-143
February
therefore, in
Number 2 rubber,
December
Number 3
nothing
10
4
139-147 139-439
129-130 19445-143
If we lost rather considerably British import prices.
un
trado
volume
but the
overseas and.
the balance
of
good
would be
large.
to
tho
not be so
armsbution
ROOT OF TROUBLE
This would do help our bajursco of trade, which is a long-term problem on the contrary it could make It even worse, and though it
Even If one accepts Mr Har might have the effect of re- rod's argument that drastic cutsducing demand for our
en-
thus
in civilian consumption and gincering products and capital outlay would not result release capacity for, arms_pro- In release of sufficient munu duction, it would have achieved factining capacity to enable very little at great cost. to carry out the artis
UN
pro-
grafome, it is doubtful, who-
Ther in the present trade con- dlijone any substantial ribe in
Prices
British Cove this Holp to
purpose
further inflation,
December
ubber,
Number
rubbo Dectinber Spot rubber, unbated Black crepe
No. 1 pale crepe
100-130
167-102 -United PICES.
FOREIGN TRADE CONFERENCE
Pann, Der. 10.
in
carried by passengers themselves. All Baggage must Pass through the Wharf Co.'s Godown for loading on hard by ship's slings only.
Will take place on Thursday the 20th December between 9.30 a.. and 11.00 a.m.
ESSENTIAL
SUPPLIES CERTIFICATES
Forms
Application
DON'T
For
WASTE
tu foreign countries and thereby morning's transactions:- having to pay out
more than SHARES BUYERS SELLERS SALES sent, any provision for stock-cates may be obtained from
at pre- Essential Supplies Certifi- against recommending,
she took in.
But there also is an additional BANKS difficulty of loan repayments this time.
FULL REPAYMENT
11K Bark East Aria INSURANCES
1000
100
770
inien Inderwriters 4.50 145
11K Fire
DOCKS, ETC.
on
K. Wharf
Britain will have to dip into its depleted coffers for $76,000,- 000 to pay the first instalment due the end of this month
dollar post- itg multi-million
United from the war loans States and Canada.
The loan agreements had
Britain provided that
Could plead poverty and forego pay- ment of at least the Interest, but the Government announced on Saturday that it would pay
The International Conference in full.
Foreign Trade organised It was one of two moves by under the spices of the United British lenders this week-end
Exchange Rates Nations concluded here yester aimed bi restoring World, con-
BAN CAUIG of much of Brithiti'a i unometal
present bechonic
Dualnem was done in the-ioen!
Trouble is a dollar (ber, 1),
morning at the rollowing enterta
market exchange
this
4.30
1057
342
1.745
13.05
thut we cannot export enough: sterlink wote ¿ber 2il v
that re. Indonesia #ulders (per 100)
Of the 5,794, Ving to Blameal for
Todos tre chiefly products
of rat plastres (per 100)
Mantepore (Siraita)
day.
the Pound Sterling. fdence, in "The conference also dealt wThe other was to case control bolsince at payments and stalls over the buying and selling of step tics. A report atlopted by the foreign exchanges possible delegates stated that all problems towards freeing the Pound from the agenda had uben controls and letting it and its on denne and that the con- real value on. world milkels. ference was completely sueross ful-France-Presso.
There Troven added to a new feeling of optimism desplie the
N. PL. Whint of %%
Provident 13:40 S'hai. Dock
Wheelpek
LAND, ETC.
HK Hotel HK Land F'hai Land Humphrey
J016
piling requirements. Neverthe-
13 1600 less, the Committee recognises South China Morning Post
the principle of urging such Limited. provision United Press.
* $349
100
10 CENTS EACH.
WATER
Pacific Far East Line, Inc.
Fart Regular Trana-Pacific Service
3.00
100 333%
DIRECT
33% 0.90 1.30 140
BAN FRANCISCO, LOB ANGELES
OVERLAND NEW YORK-CHICAGO-DETROLE-TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CITÍEA
13% 13% 1000 131
1977 Guam, Marinas Islands, Micronesinu hlands - Regular Bervice direct or with, tranhlphient,
OB'ER **** OLIBIDEZ.
Elec. (Bonus) 21.10 2145
UTILITIES
from
χάν
C. Light (0) XD
01%
C. Light
(N) XD.170.00 20
20
1000 10.05 2000 0.70
"TRADE WIND" 1002 ALAŠKA DRAH”
-PLYING SCUD" INDUSTRIALS.
Cement. 10.30 2011 200 # 36kHNA OBAR STONES, ETC.
Exry 14, Watson
Crawford
Veitset
From
Arrives
Balle
Ban Francisco
strais
San Vranelico
Dec. 21
Jan 8
Jan 20
Deo. 22
2 Jes
Jan. 2t
San Francisco
Pebi
#
Felt
16 1000 18, 2735 600 91%
For full, pafileRATE
1..
For
Ban Francisco & Los Angeles
San Frmaco & Los Angeles
vić Robe
San Francisco & Los Angeles
San Fransico & Los Angeles
vin YokojnRTIA.
Thälen Linen Co,, General Aranța, Queen's Buliding, Tel: 26198,-