THE CHINA MAIL. MONDAY, DECEMBER 24, 1951.
Royal INTEROCEAN LINES STERLING AREA'S FUTURE
"TITWANGI
TASMAN
- 35"
1946 AMP K"
ווי : *
AAN 1357"
AL
Interocean Lines
SAILINGS
iver.
24th
To
Singapore. Java &
Ringapore Djakartu,
Penang
Macassar
Belawan Deil
Sikk
Mantiu
Singapore,
击 Ateleu
H
America
Sura
داد
Jul, Threbon. Sematang
bula Macassar
MAIDEN VOYAGE
To Sugapore, Javi
1 N 1
A
Marasnat
Jap
KAL
Japan Ports
1.2
17th
Singapore Penong A
Belawan be
"HOANINGKA
Japan
-BOISNEY KIN UHPANAN
JAPA
Caper Parts
J
2400
Japan Po1!
24
Singapore, Java &
Macassar
514
Alba
Amerira
Th
Fib
120
Macassar
LIWANGI
DEALINGKA
WAH"
14W ANGL
MAHINADANE
A 390
;ו་
ן
1+20
Mania Singapore,
Abgapure. Jayn &
Singapore
Ayunila, Kingsbure. ATTICA
Jaya
America Singapore
Java
Macassar
From
Singapore
Singapore
Nagapote
ARRIVALS
ENGRA
Fat
EM 2ND
AAN BA 187 JASSEN MIN
4th
Magasnya. Japan
E 11
LAD
Tub
Manila
EIRANGE
Marassar
BINE ANA
E
ווין
General Agents.
Alrea
AA Java Por|-.
jaška A
Jasp & Ningapore
VIN
HOLLAND EAST ASIA LINE
SABINGS TO EUROPE
"PREKERK
"AAGICKERK
FRESEL"
YRENDSKERK
ABRICAT-
Зап
341
PO
DOR
SIN
itr
Max
11
גוי
SAILINGS FROM EUROPE
Hull
Roberdan
Arrives stungkong
"OVERLISEN
1
JAIL
DEN
"MORALIS ĻAUN “
1
3A1
Ֆոր է։
14h
ARUNDKERK
Jitt
3000
Mar
614
"KI DAELCIN “
Va
3th
Apr
TOT 2
KING'S BUILDING. TELEPHONES: 28015 TO 28017 AGENTS: #2. CONNANGUT ROAD, & TELS: 41986, 25133
CHINESH
US Tin Stockpile Could Be Used
To Lower
Prices
London, Dec. 23.
&
MESSAGERIES MARITIMES
Critical Task Confronting The Empire MM
Drastic Action Required
Solve Financial Crisis
FROM OUR OWN CORRESPONDENT
London, Dec. 23.
Το
A critical task awaits the Commonwealth Finance Ministers who are due to meet here next month for a full-dress review of the present economic situation as it affects the Sterling Area.
Mr R. A. But-
The gravity of the situation itself is well-known. lor. Chancellor of the Exchequer, has summed it up thus: "The whole Sterling Area is in deficit all round the world .... all foreign currencies are, alas, now hard."
Japan's Rayon Yarn Exports
Tokyo.
Fle 23 Japan has exported in TE months ending November a total of 15.. 425,000 pounds of rayon International yat, Trade and Industry nounced
the
This figure represents a monthly average of 1,402.-
valued 441 pounds
at
do).
the
$1.398.000 The total
lar Income for
ments totals $15.387,817
- Inlied Press
New Gold Strike In California
Washington. Dec. 23.
21
The danger of Americans using their tincent $17-a-ton doldrums. stockpile as a price-lowering weapon is alarming more than tin interests.
Strong comment on the possibility comes in the current issue of Natural Rubber News (pub- lished in Washington by the Natural Rubber Bureau).
Israel Fuel
Corporation
ne
A
Katha
Leaving
"LA MARSEILLAISE
On
"ZELIDJA"
tel 21
Feh zy
Far
-FA4 12 Jaf 13 Manda Yokohama &
Kobr
Salzon Homeward For
Report U.S. Rayon Industry
New York. Dec
23
The United States rayon - dustry had a producing capacity at 1.444,000,000 pounds in mid- November. 1012 Der con:
By Oreber 1953, the capaci's more than a year ago
to exceed 1.700.000.- expreted
pounds or
or 18 per cent mere
capacity than the pre
present
The statistical by vey made
000
It is clear, therefore, thaf the crisis cannot be dealt with as it was two years ago by the simple expedient of cutting dollar imports. More drastic,
action will be needed but if it is to achieve its pur-
pose it must be taken by the Sterling Area as a whole and not by individual member countries.
This raises an immediate question. Is the whole- hearted co-operation of all member countries likely to be fortheuning In the degree necessary if we are to sur
The answer, unfortun- mount our present tßculties? ately, would seem to be "no,"
Several members of the bloc Are iskely to express grave Juhts about the present con- splation of the Sterling Area.
las, verte L MI
Ponation Minister
Cry sountra thark the who tait at the rules and conven
Stochang Area with particular reference to the
and
the ceny.bution to the doll
will be reviewed lev fr Comtenwealth Monst
Ceylon, ex
howevel.
ןןןן
ports from the United States: and Canada.
a sur
bulletin of the Textile Econo the industry, is operating at
mical Bu. :au indicated. Currant
1 cent of the total rayon yarn and staple capacity
November shipments of rayon by United States producers pounds, in- talled 84.800.000 cluding 84,000,000 to domestic pounds consumers and 809,000
with
for
compared export 83,000,000 pounds reported for October, or 24 per cent under the 1951 second quarter averige of 110,900,000 pounds
11,100,000
Rayon yarn and staple stocks ajas of Nov. 30 totalled 95,200,000 The present year has seen
Including 84,100.000 marked change in this altuation. pounds, The dollar gap has opened up, pounds of yarn and
alarmingly than punes of staple stocks
review of the In its annual ༑་ལ་ and the deficit hus spreadi
wani si uation, the bulletin at:- Fatind the world.
What then. 13 the future mated production for the 1951- 4.100.000.000 likely to hold for the Sterling - 32
peards This represented an in- Arcu"
One thing only is clear Short Trease of two per cent over the new crisis on the political previous reason and the largest This 9- front the favourable conditions at since 1943-44.
wool production is expecte theed to be about 10% per
J
tx
1
1 1950 are unlikely to return. This in itself is part
mais pesadar dr questiofi Vader to herself of fl part:- The Sterling Arra pation as
kistan, has also madarated dis satisfaction with the preseul
attangements,
HD-
215
<
to the suggestion that higher than the post-war 3,710.000.000 pounds in String Arts arrangements are
the intresta Halter Press operiting against of the m material produring countries.
STRONG ARGUMENTS
Moreover. 14
*
earner
RIK HAKEIM
L7
N. Africa & Entbpë
Marsellies via Manf
& Salzon
Jan
A
Jan
LA MARSEILLAISE"
JAM
21
+"BASTIA"
A 1
N
"MORTAIN"
Mar
passengers & freight.
LA
Africa & Europe
Mus 4 X Africa & Ruropt
freight for Saigon. Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Subtel To Change Without Salter
CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong
Queen's Building (gr. floor) Tel. 26651 (3 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S.
"LEISE MAERSK"
M.S.
"GRETE MAERSK"
M.S.
"OLGA MAERSK"
Jail
3 Jan. 16 Fel. Z
low
ARRIVALS FROM U.S.A.
1947 1
M.S. "GRETE MAERSK"
Dec. 27
M.S. "OLGA MAERSK"
Jan. 6
M.S.
Jan. 14
Increase In
World Nickel
JEPPESEN MAERSK"
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building Production
A report from a usually well- A new gold strike, assay-formed source in Karachi says
The Exte ton, has, Pakistan may even go so far s mg $400-$700
points out this week, af skyrocketed the little Cal- to call for the winding up of the
Areu. Pakistan Sterling
the United States porststs of i ifornia mining town
developing and using synthetle parently feels that certain mem-
materials, Britan's importive Sutter Creek out of its re-bers of the biter are "living be-
to the Sterling Area ak a dollar amet
So far Their means"
might
increase. well Goth. I are concerned.
material argument The strike was made at
Pakistan il SC45 wonid, This is the
breakaway by stone Central Eureka (
prefer to trade direct with the against any that began operations
The Sterling Area anlar area and use the proceeds
Ontario. Dev. 23 The moval argument WIR development
The Free world
of This is, in the
output copically strong.
nickel words of "The Economist," that
increase more than ! the of members
cent this year, and by 1964 most Sterling
per Commonwealth are experiencing production should be 30 per cen: quite sizable trade deficits this higher than the pre- Korean which have contributed figure, according to the head of towards the strain upon Sterling the International Nickel Com- Di John as much as Britain's own trade pany of Canada 'd., defcit.
Jode
for 1:0
Pemes
1869
Im the other Situated
the Sierra Nevadas, district
of 34 miles southeast Saamenin, Butter Creek is
12
me that Agured prominently the country's greatest gra- Mr Htt
Ten the Califunisia gold rush, Warren S
1. Natimad Geographic Society ecalls That shondri
1
The two ERGES. Bugton at Mi 24 Lock wood withdrawals of the tom US cockpale taie pime
buy on the basis of me of a pavale wire
Merkur, far
T
30
T
Tel-Aviv. Der
22
ste kjoje
Wood
11
“become in
bric buffer
eption of an Trael Fuel poffint Co uratujund was of ally. Sonsuz tumight:
A
Govers : 4
at that the at compatry
wh. Then shahal
ed-
24)
Sir
COPLAND THEORY
Au-iraha, toll. has been vited to associate herself more closely with the dollar re-by
personage than no less a Douglas Copland.
Various arguments have been! but for ward m oppastton to this of Sutter Creek ausgestion. and the Australian
hes officially mattg sampede of Government"
Nevertheless the Fug- jected it. Two years but the dis-
of quartz gald in the gestion has been made and many Australians have 1851
pened the bonanze made fortunes for Alvinza Hayward. Hetty Green, Lelanci Stanford and others.
FORTUNES MADE
C
loven 3 Y ST: 5
'44 LYY covery
1 a I wil to be ! luwe, the price of as maporkant.
W
CHI-
IS
il.
8 ולך
רת!
from
IN
The night conclusion In draw
from the various 21oss-cur-
་་
re-
Thompson.
Dr Thompson, Chairman and International President
estimates that the free
E union would seem to Nickel.
of
be that the Sterling Area and world's production of nickel in
Turconey upon which el based can only remain
countries tmber
1 1 195) will be approximately 205- strong| 000,000 pounds, which is heteved continue to be several times greater than
the output behind the fron Cur tain.
Canadian producers. he point- ed out,
were responsible 275,000,000 pounds, or more than 90 per cent of the total this year. compared with their 1850 output of 247,000,000.
pounds.
India
somewhat dif- support it in bad years with yame regard for the com- feteni position. The Sterling the
mon interest as they have done John A. Sutter the man for Area golf and dollar deficit has
good years. the Dominion whom Sutter Creek was named, raised Tears
United Kingdom
will The Edlord statenval
wes a Swiss immigrant who had that the
Countries to re- shqi think that acquired
50,000 acres ask member
expenditure as strict their dollar "somewhere in the interior as naught be somewhat
He de sul further, olajter, melu hing of clining a perturbed at the idea of per a grant from Mexico
het proft from 1:16 aiscovery of gold within his "harony. His vust holdings were lost in the wake of the frenzy,
the Gove me, would deal with trous
alisaties compete with the
mitting price runsiderations
The porn sumus - pasi 1 that
a petalivan pre the th 1-a is
muntenance of as an inviolate duets were growing, and that the the stor kittle 1 Puci Corporation wou!!
entity except in cases of large national emergency ril saying pernd
foreign ::f
CH LAUTY anotas
the purchase of i prouts.
1
fur
!
India having already practised the utmost economy in the use of dollars feels that further re strictions might have a serlour strictions effect on the country's internal cousiomy.
to
Grains In
The fifty cents worth of gold that started the 1840 rush to
So far from feeling able "We believe that the stockpile California
was discovered by principle WILS conevived and Salter's foreman, Charles Mar- make further cuts in dollar ex-
india may soon
be in the war nest-shall. in the tailrace of the penditure The programme of the new designed us a
40 miles compelled to take the opposite was net to be used us a Sutter mil), about company mludes the building of and a ve bire between Haita ann leilion cennomy price weupon north of Sutter Creek. T-Aviv the communique com- ; at clue France-P. esse
Stock Exchange lo NY
New York, Dec. 22. Prices declined irregularly on
ther tuck exchange in
3 scrire rif valuable material reserves
be caused
voiton
too
termary,
were
+9
course.
and
Chicago
Chicago, Dec 32. An easier undertone prevalied market. grain futures
was reflected in Liquidation
e declining prices with much selling atributed to evening-up for the holidays. The marke!
gno
ignored the adverse weather
and
prospects
A CLEAR THREAT DESERTED BY WORKERS
continued of With the
of cry
"gold."
Higher food imports from the
At the "We can weil imagine the Sutter's Fort at New Helvetia,
heavy export business. dollar area, to offset the effects
cent lower wheat was close, dire consternation which would now Sacramento, and his mill, of internal crop failures, the
blanket chistillery,
to higher, cott 2/3 to 1 cent the anbe the
interest on of
the lower, oats to I cent lower, farmers of the United States if weaving shop, and blacksmith payment
grain loan, United States a shop a foreign power accumulated
deserted
hig by
make rye unchanged to lower, and purchase of dollar oll to strategic stockpile of cotton and skilled
bent on Jabourers
good the loss of Persian supplies soybeans unchanged to 2 lower.
Prices closed as follows:--- then proceeded to dump it on
to import more the need
WHEAT-price felt making their own fortunes.
per bushel the market whenever they Frenzied crowds from the east capital goods from America be-
2.57 nominat Spot
2.60-3- cotton was the
(1932) price of
of Britain's rearmament | March overran Sutter's properly, stole
facturs, Miny these his cattle, drove off his Indian cause
10 which will tend workers and disputed his rights programme-all
increase July
September The final blow dia's need for dollars. 10 his land.
CORN cathe when the United States
The Sterling Area, therefore. Spot his
dis- March 19621 clearly faces a threat of
May But the danger integration.
July Millions in gold dust
exaggerated. Septembe should
RYE taken from Suiter's empire but Sutter himself lost everything. Commonwealth trade is subject
to sharply fluctuating dortunes December that He moved to Pennsylvania in
change As and views may 1873 with only a small pension Generally speaking, the best wiree of his former wealth.Tapidly as the periodic transi- December
Inderd. He died in Washington, D. C., ons from surplus to deficit.
high."
a very
4
mixed
cult Saturday session. All
depin treats joined
sjeching.
PRICE DIFFICULTY
com-
The Editors also comment on Strels ticket around the the difficulty of determining a
close. vious
Automobiles "fair price for a given
Producing interests c. Ralls were very tuli and medity." practically unchanged, Utilities felt that one price was fair and
felt were almost unchanged. Indus-consuming interests trials and utilities were very another price was fair. dull. Storks sales Lolailed
why was to let the law of sup- what at the ply and demand decide
was a fair price any given time. Certainly it was hardly playing the game to thwan, the
price level by in supply-demand $2,00 Jecting a consumer buffer sock
picture Into the
4 pro-
450.000
hares.
Dow Jones averages
end
of the sersion
follows:-
30 inch trials
20 Ails
15 utilities
40 bonus
gloo as
256.04
United Press.
In
Rubber Singapore
A1
46.97 clement 100.03 worst this could drive
ducing industry to disruption and at best would produce an unpredictable nurkret situation, subject to the wülms and
Singapore, Dec. 22,
· Number 1 rubber, per ib.
Jaburry (1965
faelca of a small enterle of ad- ministrativa officials.
Supreme Court found
Mexican grant invalid
were
be
many
of the
2.04.7
2.40--
2.49-
JB nominal
3.03-3-2
1.32--1.93
1.00-3
2.10-211 2.08-2 March (1302)
OATS
05-1 93-12-34 March (1062)
New York Bour-pur 200 lb. back view $13 D.-United Press.
in 1880 after vainly appealing expressed by dissentient mem-
to Congress for the restoration bers of the Sterling Arza seem more appropriate to conditions
of his property-Unked Press.
US Consumption
Of Sugar
Washington, Dec. 29.
ity 1050 then in 1901.
Last year the Commonwealth earned
a large surplus In its trade with the rest of VIRIDIC the world.
In 1940 there was
an even Jurger deflelt. This year
is again in defekt.
It
Last year,
The Agriculture Department exceptionally
balimbtes United States
1952 for thelly M
sidered In Isolation
Elsewhere in this issue, the sugar consumption rarements that reason cannot
This is un Editors make a plea for tnore at 7,700,000 tons. "American Goodwill in effect
revised tries
Jap Agency Argentina
In
Buenos Aires, Dec. 22.
The Foreign Ministry today was an announced that Argentina has
one authorised the Japanese Gov- and for ernment establish commer. be con- tial agency here for the purpose
Discussing
elforts to
1.
the The in iustre's increase supplies of nickel. Dr Thompson noted that i International Nickel had zehlev ed a 12,000,000-pound
year-
ly increase in its micket produc- tion bringing current production to 252,000,000 pounds annually. United Press.
Cotton
Futures
In New York
New York, Dec. 22.
futures opened
A$
Tel: Nos. 36066-9,
See the Orient the easiest way- for the most effective coverage!
FLY THE
POAS
'COMMUTER' SERVICE
The Trade Route of the Orient"
TUESDAYS
to Taipeh & Tokyo
WEDNESDAYS to Bangkok & Singapore SATURDAYS to Bangkok
PACIFIC OVERSEAS AIRLINES (SIAM) LTD,
Cotton cents to $1,20 a bale lower.
41.01-03 41.67 March May July October
December
41.03-07
32.35 Unquoted
ASIRÅDS
Unquoted.
March
May
-Aszociated Press.
Credit For Bolivia
-
Washington, Dec. 23. The Export Import Bank nounced today that it has es- tablished a credit of $1,000,000 for the Bolivian Tin and Tungs- ten Mines Corporation of finance expanded tunga.en produit:69.-- United Press.
Peninsula Hotel. Tel. 58865,
DON'T WASTE
WATER
A.
¡St. John Ambulance Brigade
FREE AMBULANCE SERVICE
Tal, Hongkong 35035
Kowloon 52222
Pacific Far East Line, Inc.
Fast Ragular Trans-Pacific Service
DIRECT
SAN FRANULECO, LOS ANGELES
OVERLAND NEW YORK-CHICAVO-DETROIT-TURONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES
Gunni, Marisks islandi, Hildrohtesian Islands - Regular Bervice direct or with transhiyinent.
of prompting interchange study.
of markets, intensi aither to Sunt which coal fisual estimate, which, is core of countries erated Prom the wing mucual tourish and story- Palces of rubber futures closed visited Malay to study the Un number of supplying areas. The steep rise in world commodity Ing local commercial relations today at follow
industry.
estimate
compared with the prices which followed the de- and practices.
elakon In many Western coun Аз regards Japanese subjects driginal 1951 estimate of 1,000,
to bar upon a pro and their interests, the agency We strongly urge a mission 000 tone and the
granine of arma production, will handle such fasues as ro- ALASKA MKAK" devoted to rubber, composed of gute of 7,800,000- or
iso rose but less almal would record
or renouncing their PYLYING SOUins industry executives a well the
Are+Bel Dopuri sharply. They be Govertiment "officials,"
The Commonweallw. Anvade birth death and wellwer: erives a visilum today, Malave Ambung kom poduze (Inventorieni gains a friend. Let's have inord in rent month has weakened the dollar, head, movers wild the infirestar deceased rosidents: -- United goodwill mission-London the demand for ugne United low due to increw dollar ex Japanese Exprons Bervion.
pond ihka to reductions in In- Prome.
Tecember
(Number 2, 1sæbber,
Decmibér
20sher || ribber.
*Declinber
Nombre, Chibber,
Eleckinber
Spot Milber, umbaled Ha, 1 pela arepe au
34036-h
130-
13146-339}{
107-100
Prom
ZHUBINA BRAMA
From
Arrivas
For
Btrast
San Francisco San Franbloo
Nee. 20
JRO, '
Feb. 0
Dec. 20
San Francisco de Los Angeles
vis Kobe
Jan. 1
灃
Ben Tragebido e fós Angeles
via Yokonamas
Einlied Blasen’Lanse Co. Cántent Aavalia, Queen's Batidir. Tel; BISON,