Page
MESSAGERIES
M
Arviving
"LA MARSEILLAISE”
"ZELIDJA“
BIR HAKEIM
LA MARSEILLAISE" dan
+
"BASTIA"
MORTAIN"
THE CHINA MAIL, WEDNESDAY, JANUARY 2, 1952.
MARITIMES ADVERSE TRADE
Leaving
Page
FIGURES Royal Interocean Lanes
M Huge Jump In
In British Deficit Balance
CHWAZO FO
Manlia. Yokuhama | British Cars To
Kobr
Balgon
Homeward Fot
Jari. 12
Jan
เล
Feb. 21
Fed 20
1
Jan 21
28
Marsilles via Alanda
4 Balcon
Fit
23 Jan
20
N. Africa Europe
1 Mar
4
N. Africa & Kucope
Jan
passengers & freight.
1. Africa & Europe
freight for Saigon, Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Subject To Change Without Notice
CIE DES MESSAGERIES MARITIMES
PO Box 53, Hongkong
Queen's Building (gr. flour) Tel. 26651 (3 lines).
P
PATTISON ORIENT LINE
LIMITED
"LAURE PATTISON"
5.5.
Due From:
Osaka Jan.
2nd, 1952.
12-14 Queen's Road, Central.
Sails For:
DIRECT
Pusan
& Kobe, Jan. 7th 1962.
Tel. 26846.
CHINESE AGENTS:
OVERSEAS CHINESE STEAMSHIP CO.
48, Bonham Strand, West, 1st Floor. Tels 25646, 28127 & 31119.
More Money But
Less Buying Noted In America
Washington, Dec. 31.
but
The American public has more money than ever before, stores are jammed with goods buying is off. The average citizen is saving more now than he has in five years.
Secretary of Commerce Charles Sawyer reported these trends yesterday in a year-end review of the nation's economy,
AMERICAN BANKERS FOR IRAN
today were
to
The Commerce Secretary said high savings amounting to an annual rate of $22,0),000,000 over the past three months. helped turn the tide in 1961 against rampant inflation.
But if the public looses 14 high savings in a new wave of buying. he cautioned, inflation- ary pressures
will surge up again. Mr Sawyer listed Chat a one of the nation's basic prob- Irms in 1952.
from 10
Be Dearer
London, Jan. 1.
car- leading Britain's makers the Nuffield Or-
ganit, today announced will which rises piler make cari from £40 to £100 dearer.
of
The Nuffield organisation East raised the price cars in March, 1951, when increases ranged from £34 to £50.-Reuler.
History Made On Exchange
Advance In British Government Issues
Falling
Dollar Receipts
From Visible Exports
Liverpool, Dec. 17.
A record November U.K, visible export total of £253,900,000 has rightly been praised, while a proper pride has been taken in the fall in November imports by £34,000,000 to £328,800,000, says the Journal of Commerce.
"TASMAN”
“WIRAMPRK"
VAN ESTADO
ILUWAH"
"TDBARAK" STIINALENOKA"
"BOISSEVAIN TIWANGI" "VAN HEUT82- "TJITJALENOKA"
"TJILUFAR” *TIWANGI
THADANE
*TINUWAB”
"B018SEVAIN” |<<TJIWANGI"
But there is danger of complacency in admiration of these figures. The stark fact must be faced that the adverse visible balance of trade has ammed from 2313,900,000 in the first 11 months of 1950 to £1,113,200,000 BBVAIN“ in the corresponding period of 1951.
for
Even if, as is the statistical custom, 10 per cent is deducted from imports by way of allowance freight and insurance costa so na to bring the import and export totals on to a common footing, the visible deficit is still as high as £786,000,000, and is equivalent to £856,300,000 on an annual basis,
Invisibles shipping earnings. Asurance, banking and financial
CENJEVA.
Aamaled
RA
continued without interrup- tion since the Election GUIA He now early on a 4 per cent yield basis. while the average return un industrial equities is in the region of 81% per cenk Il cannot yet be wald.
however, whether these
ave
new bazes are likely to hold.
SHIPPING SHARES
2
SAILINGS
Joh. #th
Jan
11
Tth
TRA.
Bih
Jah 2015
5th 18th Jan ZDEN
Ian ZBLA
an
'Mandia; · Singapori, Afrien
America
Singapore, Penang. Delawon Bell &
karin
B.
Dakarta, Tirebon, Hemarang, Aura-
Bala Macaspar
Jane Potte
MAIDEN VOYAGE
Ja Kingapore. Java & KER sinapore, Penang & Djakatta Japah
pah Parta
singapore, Java & MaragDRY
gana Penung & 8. Deli Manlin, lugapore,
Ameriin
S.
Feb
Africa
mah. 1998
singapore Java & Maransar
Feb. till
Singapore, Java & Macassar
Star, Bth
Mandia, Singapore,
Atrica
& H.
Vaniotes
11t 13th
**pore. JRVD & Macar
Mar. 24th
Mar
tantia
Singapore, Africa
። 6.
America
Ax
Singapore Java & MICRISAT
From
ARRIVALS
"RUT" "VAN BRUTSE"
Jan.
tně
Jan. tth
Jan 17th
"TJIWANOP- **TJIFANAS"
Jun APLI
Jatu 20Th
"TJITJALËNGORA" Feb
A
Japan
1. Bell. Djakarta & Singapore
Amerjen Alrica, Singapore Manila Macassar, Java & Fingapore
S Amertra Africa, Singapore
Munila Japan
General Agents,
HOLLAND EAST ASIA. LINE
Jan.
Mar
Apr.
cient to permit the setting uside of a surplus adequate, in
Meantime, there has been and lasting
SAILINGS TO EUROPE a period of scute are
In ship- bring in some
inflation, to replace fixed asses conddemble activity
"AANTEKERK" urising £400,000,000 this year
and stocks at So that
current price ping shares,
in part VKBIJBEL" levels.
from the current high level of "HODOK AK" freight rates but mainly from "ABENDIKKEK"
de- an exceptional series of
SAILINGS FROM EUROPE concerning velopments dividen
nies. First
ne i cume companies.
for the shares 01 the offer
British and Burmese made by
Dy Elder
Dempster Holdings k_મ confirmed, of £8 price. per share Then attention was ultracted to Stanhope by the
the overall adverse balance for the curent calendar may ex- che £150,000,000
Tore is to comfort in this defen calculatin Moreover. nollar receipts from vaible ex-
London, Jan 1. British Government stocks ended the Christmas week higher than they were the ports are (atling
week before.
21
iu
In Novembe; exports to the USA declined by £1,800,000 110,100,000, a levet which is below that 14 per cent herd in the Best nine months of 1951
it Wax That is Justo y.
M unly the second laht since Churchill was elected that gula edged pans have not close: week lower than they began t
It is was demed that the perky little
recovery was due to inter- vention
Government f the stockbroke
The only time in these glonniy weeks, it was said that he has exerte 1 his personality was on
De embe Monday
17 when dealings began in a big share of coal compensation stack issue! formes
hat h forme:
wagers of a collir is compatues. He apparently wanted to se the ex-owners get
fair deal and so he stood in the
น
ng of brokers in the gt-elgesi
Nottle
A WARNING Trading profits of the Tube valiments group rore last year $1,500,000 to £7,777,000. but fer tax and depreciation, the company was left with no mice the £290.000 of this m
111
News
now
of
11-
has
Satis
Botterdam
Actives Hongkong
"OVERIJBEL"
Dre.
31
12th
"ПООСКЕНК"
Feb.
4th
"ARENDEERK"
Jr.
30th
Mar.
4th
"KIKLDBECHT
Mar
5th
ADI.
19th
"AAGTEKERR"
Apr.
2nd
May
8th
KING'S BUILDING. TENDPHONES, 2015 10 NAE.
AGENES BEL CONSAGGET ROAD
GLY USE
pi
that this
company lately td tonnage for a con- sideration of some £2,500,000.
directors Now the
the American Maritims
uwners Trading Company virtually the nture capital of
Thumpson
reaso And in the same year e group invested on additional £2,000,000 in plant and budd- mngs; abuz 1.
in in- £1,500,000 revised credi
customers.
1.1 further 4- and u
£1,500,000 £1,000,000 higher. values 01 stucks
and jrogress.
The grand London This
new investmeN I £5,000,000 In ati, T. has spent more than £17,000 100 since the wat on capital account so that the huge proßt etrin sc1 aske each yeur ve had to be supplemented by pw ines capital.
Exports to Canaria, et 300 000, were An exos af the October figure, work Du 6 par om, under the average total of for the first three quarters of 1951,
Dollar shipments to the North Ames
van continent as a whole are down by 10 per vent on a rabre mouths' comparison 50
so that the the gap is widening,
INCREASING COMPETITION Already sold Mr Sexleford,
The difficulties in the
of taxatio is so high that maus- reducing
UK. paymente trial companies are Anding de frit and bridging the necessary to raise new capital dollar gop are, admittedly, im- to finance their normal develop-
Reamrument is robbing
1, he warned, "they gment. the ratemal
economy of
of men, are to be still further denuded Toney. Mi materials, that of the wherewithal for recreat- would normally have been con- ing and maintaining the
employed on structively no1 artcial It was
pro tional well-being, then Britain de mainly to buying by small duction for expat at the esas being steered towards a dan-
saliaks of the home market. germus corner." With the mdustrial resurgence
}}}}
K
There was heavy selling by the ex-owners but profes-ional beas avoided the scene
The natural.
investors.
norest
recovery
was
all
of Germany and Japer, many
le
A GRAVE THREAT
па-
This warning has been given
export markets, and especially textiles.
becoming Pompetitive. Freasingly the Govern should conve
021 a resumption of cairate coal exports in adequate quantity.
morr
fras
교육
Was given i
1305 by
many leading indus.rialists and is no exaggeration Surely
threat. chapter and verse confirmation A study on the effects of in- dation on the capital of indus try the Federation of British
by Industries.
Both Mr Stedeford i and the F.B.I. have rightly em- phasised that
involve getting
а
15
Company.
Steamshipping nounce Thi en offer has been received from Caledonia Investments (on as- sociate of the Clan Line group) to purchase the
whole of the sued
shares of ordinary London American (other than 70.669 shares already held) at
per share. Seeing that: thuse shares had been deatt-in this year down to 225 6d, the offer is one that should be ac- cepted.
U.S. RETAIL
TRADE AT NEW PEAK
New York, Jan. 3. Total dollar volume of retail,
peak to a new during the week ended Decem- a last-minute rust of Christmes shopping. Dun and Bradstreet reported today.
The
WAR LOAN POPULAR War loan's
with popularly small investors is rather remark- obic despite the prevailing uncer laints I now stands 26/- above its recent low of 78%.
Industrials were steady among the leaders, closing unchanged. From a a week ago Their market values have lost around two or This would three per cent since the first of
men unto the mines; task that has so far beaten the the month.
fiscal trade spurted current Coal Board, but which must be Oil shares were buoyant,
systems ignore inflation in that except Royal Dutch Royal accomplished if coal cutput Dutch was unchanged all week, al to lify internal industrial and they refuse to allow a charging br 24 on 1294 but Shell Treport, 20 domestic needs and to provide against profits for tax
ment purposes of depreciation completion of
a surplus for shipment Similar selling.
ост replacement rathe: Increas
reast of coal produc- jumped 2/6d. to 96/30.
tion would not, of course, solve than historic or prime cost. rather Japanese bonds had an in-
Further illustration of economic and all the nation's different week. Rises were con-
whituling-down Of Anancial
ancius problems, but it would dangerous Sned to 1907's, up £1 at £105,
trustrial cornings by excessive alert week included one more and 1930's, up at £115. South go some way in that direction,
Them!
in the "Finan-Christmas shopping day every effort must
appears
did the similar week in 1950. Manchurians Inst £1 at £71.
an adequate cial Times" profits' table ai- German bands closed mostly made to ensure
The latest Total retail trade of labour and
raw ready mentioned. Dollar stocks were | unchanged
great export table in this useful series covers estimated to be from two to six manu- the results of 2,850 companies per cent higher than a year agu. were cut of the pictureUnited industries-motor-car
and ac- its whose annual reports facture, chipbuilding
the Federa. (with
In Washington, ¦Press.
Board direct and indirect exportcounts wore issued in the firs: Reserve
reported that NEW YORK MARKET
Value).
en. textiles, general 11 months of 1051. They show countrywide department store New York, Jan. 1.
for the week ended and so forth. All that, on a comparison with the sales Stocks launched o
gineering, traditional
will involve a deprivation corresponding period of
December rose two per cen year-end rally late in the week and prices moved up in all major
sections with utilities setting a new 20-year high.
largely unchanged Mining shares metale for the
a
on
In
short week the market Monday and declined on
The tally carried into Friday's market.
Alay and rose easily
Washingtum, Dec. 31. The World Batik announced
Personal income soared that two of the officials
Iran during the $225,000,000,000 due in
in 1950 for 8251,000,000,000 this year. next few days to hunt formula start oll flowing present the annual rate is about $260,000,000,060. Even though again.
are Torkild Rieber, oll taxes went up, disposable
i They
lefi after the consultant, and Hector Prud- come-what's
Government gets its cul-rose homme of the bank staff
nine per cent over 1950.
the fece
Mr Rieber, President of the Barber Oil Corporation of New York, is man of long experi
Iri
of this flow of ence in international oil opera- dollars to the public, consumer
He tions. is accompanied by buying-in terms of unit volume The his daughter, Miss Ruth Rieber,, was slightly under 1950. who will serve as his secretury, difference between Income and "The Bank is studying the spending made up the total of Iranian oil situation in the hope almost $19,000,000,000 put into of being able to put forward a savings during 1981. constructive proposal under
The market as a whole tooked
averages better than the
in- dicated. Later I made the best showing with higher earnings on some stocks.
this
laxation be
must somehow
10
The
1250,
year-10-year gain was
pronounced
maay regions of the nation since the
consumer
ננו
all below
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO;
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vi SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S. "LEISE MAERSK"
M.S. "GRETE MAERSK”
Jan. 3 Jan. 18
M.S. "OLGA MAERSK”
Feb. 2
ARRIVALS FROM U.S.A.
M.S.
"OLGA MAERSK"
Jan. 6
MS.
"JEPPESEN MAERSK"
Jan, 12
M.S.
"HULDA MAERSK”
Jan.
20
&
For Freight and Further Particulara please apply to:--
AGENTS:
JEBSEN & CO.
than
Pedder Building
was!
of the
earlier. Poultry
favoured
were
that the
Tel: Nos. 36066-9.
AMENDED
HONG KONG GOVERNMENT
IMPORT & EXPORT
LICENCE & DECLARATION.
FORMS
Now Ready.
THESE FORMS COME INTO FORCE AS FROM 1ST JANUARY 1952.
ON SALE AT
of the horne consumer, but the the gross profits of these com- from a year ago.
Retallera Inventories nation's ills are so serious and
panies rose by 23.6 per cent to deep-seated as to require dras-21,391,000,000. But, after de- apparel were tic treatment.
preciation of £177,432,000, and unusually high level of recent and PRELIMINARY MEASURES tax provisions of £605,840,000 months, according to Dun
reBradstreet. Among £460,204,000). there
the most So far, the new Government (against
items were hosiery of was let £422,803,000 available populer hos but touched the fringe
and gloves, blouses the problems left for It 10 for distribution as between re-carves,
time at its disposal serve allocations and payments children's loggery, solve: the
Housewives spent more for has been too short for it to do an equity capital. Ordinary di-
Butler's much. Mr
inancial vidends took £128,355,000 only, food in the week than in either raising of
the prior
week or the record the while transfers
reserves measures the
week a bank rate and his directives to t
of which totalled £330,457,000
"year the banks
Capital the and
and ham consisted appreciable part Many operators sought stocks
meet counters. Bakery products whose companies probably will issues Committee on the need of amounts placed to stock and
were specially the finan- to restrial credits diddi
sential
fixed asset replacement by way and confections
Demand for toys end earn more in 1952 than they
dai Irrigation of essen
pro-
of protection against costs' in- popular. Utilities had gains jees and to examine in 1051.
giftware helped to sustain sales applica-
flation ranging to more than a point.
ilons for
of consumer durables. new money with Steels made a weak response to
LESS THAN HALF
Dun However,
and Brad- meticulous care--are but preti- the avoidance of a surite. Motors
At the close of their respec-street remarked
come tive financial years, the
volume ol gramine, which ruled firm despite a sharp fall-inary measures in a vast pro- ing off in car production. Some
that fecal nd physical panics included in this statisti-aggregate dollar chsure
durables continued metals, aircrafts, mercantiles, austerities do not sap the will cal survey had issued crdinary consum
noticeably below a year ago. food issues, electrical equipments to work and
£1,400,133,- and produce.
capitals tolaliing and liquor issues gained some- In the sectional, but very im- 000.
000. These were buttressed by Trading activity slowed at
wholesale markets. Last what.United Press.
portant matter of the dollar reserves of £2,600,074,000;
orders of holiday SOUTH CHINA MORNING POST, LTD. gap
the renewal of the Dollar Imposing figure, but one worth, minute
merchandise helped to sustain in terms of purchasing power, the tolal ordering at a high Export Board is a step in the
less than ane-half of the
the Gradually, of course, further war value. And tution of the national economy of £2,855,563,000 contains will be brought into operation. too little in the way of liquid The next Budget will play an
resources: it is largely com Cairo, Dec. $1,
Important
pervasive part, posed of stocks and debtors. Becony Vacuum Oil Company, for the days are gone when the Earnings, It should be noted, than which
of fiscal a matter operates in Egypt as a Budget is
to no more are equivalent tlar high of $327,000,000,000, branch of the New York concern, polley alone. The Budget is 10
ст cant on per
on capital altributed the 1951 expansion announced
today that
it will now used to steer and control ployed that is, issued capital
and profit sur name to Bocony économic development, and the plus reserves
on pluses while, Trade Missions paring plante and production Vacuum Oil Company of Egypt contents of the April, 1952,
The change will become effed-edition will be of supreme in basis, the distributions by way LAN FRANCIcó, Los Angeles Live on January 1.
bortance portar
the of ordinary divided repre The new Egyptian company efficacy of Government enden Hented a reward only allglity in onekuga talands, Micronesian Xalands -- Regular Service direct or with transhipment. will be incorporated in Delaware yours to restore the oconomy to excess of 3 per cent. This is do the oaplial,
which, as
an interim measure,
the Bank might assist in restor-
ALL-TIME HIGH
This savings total was
the
ing oil operations in South Iran," highest since World War II
the announcement said.
had tip
"As yet, the Bank has formu-years, when the public virtually save because of # of goods. This year.
lated no proposal and no pre-scarcity posal will be presented during however, businesa inventories the visit of the Bank represen-
tatives."
Operations have been shut down in the rich tranfan Molde and the vast Abadan rednery since Iron nationalised British holdings.Associated Press.
In Moscow
Moscow, Dec. 31.
of goods reached a value of $70,000,000,000, an all-time high.
Mr Sawyer, noting a previous
ly reported rise in total output
of goods and service to an all-
110
Oil Company's right direction; but only a step.
New Name
to better use of manpower, ex- change its nar
AK
pre-
lats for the economic rehabili- net working capital WHOLE Y
and
in promoting
the same
mellitleg and more intensive use of existing capacity.
The Increas way about 16
per cent above 1900, about hair, due to prices and about half to
and will maintain its managerial a
a condition of health, wrength by no means generous pay for headquarters, board of directors and anity. and accounts in Cairo. It will
Industrial protein
"Tinancial Times" azures In
· With the arrival here today of|actual'ünit volume.
level-United Press.
the
Hong Kong & Kawlson,
Pacific Far East Line, Inc.
Port Regular Trana-Pacific Survice
DYKKLAND
NEW YORK«£BÍCAUO-DETROIT TORONTO MONTREAL AND ALL, AURRICAN - CANADIAN stems
Arrives
Šan Frenkisto
Jan. 1
San Franciat
Nermits
Jan. 10
Ja 13 ** J
Borakte
Ban. Františên à Los Angeles
San Francisco
Feb. 28
San Fernaison à Lộc Angilis
Wor・Fail partläsänen anli. United Kiries Lines Cp.. General Arentz. Quaen's Bullding, Tih 10180,
a Polish trade misalon, there are
The defence programme, of absume all of the parent con- table complied by the "man- any way support the contention "SACOB LUCKENBACK". now eight foreigh trade missiona
pro In Moscow, the other seven being course, was the most dynamic pany's assets and operations in clal Times gives support to that the level of industrial
Mr Egypt.
the contention must Week 1. Is too High there is little "FLYING SOUD Finnish, Swedish, Chinese, East factor in the economy.
chargJACOB, LVCKENBACH)“ taken by Mr Ival: Stedeford at the enough left after all th Oerials, Crath, Bhuli and Sawyer wald defence expendi A similar step WAI
nire amounted to $35,000,000,- sariier this year, by the Angid Tube Invokimenta meeting have been meter A
There were signs towards the announced that the 000, more than double the 1950 | Egyptien Quads Company that, thoughtriding profite missions are negotiating for im total. The flow of civilian pro- which transferred its board and have been rising in most in- end of the part work of an ar-
was kept at high parts and exports for 1963 under ducts also
management from London lo dustries, the ab amount left resting of the heavy fall in gift- values that levels Associated Press.
Cairo United Press. long-term grominente.-Neuter.
deal after fax outgoingsig fresɗff- edgod and skinrè
Albanian,