MARITIMES
MESSAGERIES
M
Arriving Leaving
"ZELIDJA"
LA MARSEILLAISK"
BASTIA"
**MORTAIN"
“ZELİRJA"
Feb.
13 Feb
23
תו: $
THE CHINA MAIL, MONDAY, JANUARY 14, 1952.
UK'S
PAYMENTS
1
DEFICIT ROYAL. INTEROCEAN LIves
MEstimated At £400 Million In Past Year
Ostward For
Salzon
Homeward For
Marsellen via Manila
A Saigon
Africa & Europe
Fan
23 Jan
26
27
Jan. 28
N
Mor
Mur Mar 25
MAT }
4
N
Africa & Europe
26
N
Attica
Enroj
passengers & freight
freight for Saigon, Port Said. Tunis, Algiers, Oran, Tangier, Casablanca. Havre, Dunkirk, Antwerp & Rotterdam
Subject To Change
Without
CIE DES MESSAGERIES MARITIMES
P.O. Box 59, Hongkong
Queen's Building (gr. floor) Tel. 26661 (8 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vla SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S
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M.S.
"OLGA MAERSK"
M.X.
"JEPPESEN MAERSK"
ARRIVALS FROM U.S.A.
M.S.
"JEPPESEN MAERSK
W
M.S.
"HELDA MAERSK"
M.S
TREIN MAERSK
n
Jan. 1X Feb.
2
Feb.
Jan.
IC Jan. 16
Feb. 16
For Freight and Further Particulars please apply to:--
AGENTS:
JEBSEN & CO.
Peter Building
Tel: Nos. 36066-9.
REPORT ON VENEZUELA
A Small Nation
With A Large
Overseas
Trade
London, Jan. 13.
Venezuela, if she continues her present rate of development, will become one of the world's largest economic markets, a Board of Trade sur- vey said.
The survey, compiled by Arthur C. Maby, Commer- cial Secretary in the British Embassy in Caracas, devotes most of its 254 pages to a complete economical and statistical survey of the country.
11
2
In Mix for and to the NAN Y
M Maby and Barons
be more wave of
should
VERS
locma
zuelan economy than they were Jarge as the country simong the countries producing
survey
it forecast an unprovenent in overseas trade within the next few years.
Steel
British Output Down
London, Jan. 13. British steel production 654,200 topa dropped by
last year.
The total for the 12 monds was 15,638,500 tutm compared with the record 18,292.000 tons of 1950, the British Iron and Steel Federation announced.
Production of steel ingoin
month castings asi
and
ת!
fell to an annual rate of 14,953,000 tons from a rate 16,437,000 tons November
and
15,498,000 Long In December the previous year.
Pig-iron production last year rose to 9,888.000 tons against 9.632.900 tons in 1950.-Renter.
Labour Government Export
Policy A Clear
Failure
(FROM OUR OWN CORRESPONDENT)
London, Jan. 13. Britain's overall balance of payments deficit in 1951 can now be estimated at £400 million compared with an overall surplus of £221 million in 1950.
This is indicated by figures published this week-end for the United Kingdom's trade last year which show that with total imports pro- visionally estimated at £3,916 million and exports at £2,707 million the visible trade gap was over £1,200 million.
Since the figure for imports includes cost of freight and insurance, the greater part of which is payable to British companies, the actual deficit on our visible trade account was around £800 mil- lion.
'Boom' In Australia ping.
Slowed
RECESSION IN SPENDING
Churchill's talks with President
From this must be de Great significance is attached ducted a further £400 mil- here to the reference in the com- lion--the estimated value of munique issued at the end of Mr invisible exports, mainty Truman to the United States from such sources as ship-need for increased supplies of and tin and the insurance,
profits aluminium
United Kingdom's need for more from overseas companies
stoel. and the tourist trade. This leaves some £400 million-- the extent to which the ! United Kingdom's overall balance of payments was in deficit.
was only
31 is interesting to note that Washington, Jan 13.
although the
value of net UK £126 of The Commerce Depart- ·
(exclusive exer's today that million of re-exports) was ap-| ment reported
on: per cent up the recent Australian busi-proximately 19 ness boom is being slowed the 1950 figure, the actual ex-
recession in pansion in volume down by a spending and the recent fall- per cent compared with an increase of 15 per cent in 1950 Against this our imports in 1951 ing off in demand in some
cost £1,368 million more than in industries.
1950-an increase of 50 per cent in value bur only 15 per cent in volume.
of
was
thầu, thi analysis
conditions, Australian economie
The export policy adopted by written by Harris R Hungerford,
the Socialist Guvernment at the 05 Consul Sydney, publisher the Department's outset of 1981 has clearly failed, the Foreign M. Gaitskell, then Chancellor of ma) magazine,
The Exchequer, calculated that Comuncare Weekly
The increased expor bill expect.
world theted as a result of higher Hungerford although Australian business prices and the extra demands of
rearmament
programme still very active several branches the
and industry have would be largely offset by the of trade
B falling off
nitrease in our exports of con experienced
sumer goods demand recently
M-
any single factor.
wrole
This has not, in fact, proved Exports of con- to be the case sumer goods have recently de. clined as a result of the com- bined effects ol consume:
resistance to higher prices and ncreasing foreign competilon.
HONGKONG
SHARE MARKET
(From Our Correspondent)
דם
The volume of business done the Stock Exchange this morning was valued at $519,- 108.76.
and Noon quotations the morning's transactions:- SHADES BUYERS SELLERS SALES
BANKS
This is taken as an indication United States will that the shortly resume its purchases of Malayan tin-the suspension of which has been a contributory cause of the deterioration in the Sterling Area's gold and dollar position-and that extra supplies
American steel will be made INSURANCES available to this country.
QUICK ACTION NEEDED
Meanwhile, on the eve of the; Commonwealth Finance Minis- ters' dalis in London, it is be- That coming increasingly clear tuts in imports, especially from the United States and European Payments Union countries, will members of the be urged on Sterling Area.
The extent of the Sterling Area's gold and dollar deficit in quarter of last year, the final however, underlines the need for speedy action.
The immediate steps to be taken to prevent a continuation of the heavy drain on the central dullar reserves must, gold and therefore, include cuts in the in- dividual import programme.
Even with larger supplies of capital goods from this country these cuts are bound to mean the slowing down of development programmes but this must be accepted as part of the price of Sterling Area in keeping the
existence.
Hardships
must be expected hut the Finance Ministers' con- ference will surely have failed if it does not in its purpose
beyond the immediate problems and lay the ground- work for a more constructive policy based on a long-term ex-
He reported that buyer resist- 15 spreading from small ance
This goods to cars and houses. suggested a recession in spending on the part of consumers of a magnitude not to be ascribed to Many factors the applied credit stringency.
NEW APPROACH of living the increasing cost
Meanwhile our exports of heavier taxation, irregular wool value and Brought and bush capital goods, for which there is
es in the agricultural districts still keen world demand, have louk
probably all
combined been held buck by a shortage of have
and
psychologically raw materials, particularly steel. Anancially
The new to brake the momentum of the
Government has, which characterised the therefore, decided to adopt a new boom local situation for some time.
oppinach to the problem of cx- ports. Stress will in future be laid on exports of capital goods and other engineering products and raw materials are to be for this purpose made available
at the expense of home consump-
on the steel In a statement
pansion of exports.
Inquiry Into Steel Dispute
Washington, Jan. 12.
Union Underwisters
SHIPPING
Asia Nay
DOCKS, ETC.
K
**TJIBADAN"" “BOISDEVAIN" “TJIWANGI
-VAN HEUTSZ"
TJINALENGKA"
WingsMore, Penang, Djakarta D
Sapan Ports
Blagapore. Diakerta, Semarang.
Surabala & Macassar Singapore, Penang & Belawan Deli Singapore, Mauritius, R. & 8, Africa &
8. America Japan.Ports
Bjakarta. Surabals & Macassar Djakarta. Semarang,
Macassar
Singapore,
JÁN. TYES Jan
Jan
29th
Feb $1
"TASMAN
TILUWAH"
"TJIBÓDAS"
~TJIWANGI”
Feb,
9th
Feb.
13th
Singapore.
Feb. 14th
Feb 29th
"TABMAN" --TJISADANE"
Feb
Mar. 5th
"TJILUWAR"
"BOISKEYAIN"
Mar. 15th
Mat. 24th
Mor, 28th Mar. 31st
Apr.
"VAN BEUTEZ" "TIWANG?"
"TILLUWAH”
"STRAAT
MAKASSAR” "THWANGr"
"THLUWAR”
"TEGELBERG"
"BOIRSEVAIN" "TJIWANGI"
"TJIPANAS”
תור!
13th
Apr 19th
Apr. 301
Max 15th
May 17th
Jakarta,
Barabala & Macassar
Sezporabe.
Hurabala
Semarang.
Singapore, Penang & Belawan Delt Mall, Singavors, Mauritius, E. & S.
Airten & 8. America
Singapore. Djakarta,
Surabala & Macassar
ACITARE.
Mania Singapore, Mauritius, E. & 8.
Africa à 8, America
singapore, Penang & Belawan Delt Singapore.
jakasta,
Surabala & Macuimar Singapore, Djakaria,
Sematang.
Semarang,
Surabalu & Macasar Manila, Singapore, Mauritina, E. & S.
Africa & S. America Singapore, Djakarta, Semarang.
Barabain & Moonswar
Kingapore,
Djakarta, Semarass.
Surabain e Macassar
Manila, Kingapore, Mauritius, E.
8. Africa & 8. America
From
ARRIVALS
Jah. 14th Jan. 19th
Jan. 23rd
GETIMALENOKA” Feb sch "TABMAN"!
Feb ATHLUWAN”
Feb. 18th
Feb. 25th
"VAN HEUT6%"
#
5. Ameriça, Africa & Singapore Macassar. Surabala, Semarang.
Bjaknyta & Singapore
H America, Africa. Singapore
Manila
Japan
Penang, Belawan Bell & Kingapore Macassar. Sumbata, Semarang,
Jakarta & Singapore Penang Belawan Deli & Singapore
General Agents,
HOLLAND EAST ASIA LINE
TELEHONES: 28015 50
DANNATO, HI KOAÐ
11th
22017
BIG VAN
SAILINGS TO EUROPE
"AAGTEREKK"
Jan.
13th
"OVERIJĄ BL"
Fed.
7th
"HOOGKERK"
Mar
7th
ARENDEKERK”
Apr
7th
Nails
BAILINGS FROM EUROPE
Hatterdam
Arrives Hongkong
HK Bank Eay! Azia
1555 1578
140
30 g
1670
"OVERIJSEL"
Sailed Neç. Ist
Jan.
14th
"HOOGKERK"
Salled Jun. 3rd
Feb.
4th
ARENDSKEEK"
Jan
Mar.
6th
"KIELDRECHT"
Mal
5th
Apr.
2014
Ba
"AAGTEKERK"
Apt.
2nd
May
4.90 0.20
1.40 1600 1.30
KINGS BEE DING,
JONENE
AGENES
101 103
6.70 6.90
1315
13.80 2500 13
316
3815 39
5.80
1.25
300 @ 5.00
50
15
PENINSULAR
UTILITIES
4
16.06 17.10 200 @ 18.83
4000 16.90
117
1000 @ 116
C Light (0) 435
300 6.55
2000 @ BAŬ 1000
Wher! N. P Whart Dock Provident S'hat Dock Wheelock
LAND, ETC HK Hotel HH Land S'hai Land Humphreyan
Tram
Peak Tran
(N) Star Ferry
C. Light IN) Klectric
Electric (B) 215 Telephone 142
INDUSTRIALS
Cemen:
STORES, ETC
Dairy
Watson
L Crawford
1670
6
23 1300 23
361 62291
100 211
17 3000 @ 10.80 1000 16.75
19 10% 1900 18
1139 1050 20
38
Talks On Rice Purchases
Rangoon, Jan. 12.
Mr A. Ratnayake, Ceylon's Food Minister, today opened 'alks with Burnèse Government officials here for the purchase
QUIS NOS SEPARABIT
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CANTON"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 18th January at 5.00 p.m. for the UNITED KINGDOM 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, CANTON ROAD ENTRANCE BY NOON on THURSDAY, the 17th January, 1952.
of Burma rice during the year. SPECIAL NOTE: With the exception of hand packages
Mr Ranayake who
arrived
here last night, is expected to
sign
R
rice agreement with
Burtne during his eight days'
stay, official said.
Ceylon's
ORDERS CANCELLED Manifestations of this Austra- the Venezuelan; however, the survey said, and lian business trend were seen in bargain sales by stores. cancella- that Venezuelan cronomie imp rtance is out of pointed out
other thanting of domestle and overseas
because of tion. all proportion to ner still small exports in fields.
orders by traders petroleum had not had the same population.
However,
accumulated stocks, the need for enrouraging results.
liquid capital, the active market
སལ
with in second-hand cars further financing of such pur- chases (or of new cars run only for
pleasure) by the Common- BEST CUSTOMERS named I!
the Netherlands wealth Bank, and curtailment in Indies AS Venezuela's house building owing also to the materials which matter in the West
credit restriction. The world
quoted most important export market.
The article analysed Australia's
LIBES. figures to show that Venezuelan followed by the United States,
foreign
"trade·
during most of 1951
home production of While only Trinidad, Canada, France oil production is second
and noted that these figures to that of the United States in Britain.
Venezuela would indicate that imports con- steel had dropped as a result of the world.
The
survey
those fortunate tinued to exceed exports and that lower imports of German scrap Was one of
be and foreign iron ore, the needs prices, not The survey is divided into !!
shown a the trade position will countries which had
Otis Brubaker, union sections dealing with organs of
regula constant favourable balance in reversed unless wool prices rise of the defence industries would
steel-decline in imports continue to rise for some time research director, presented 150 trading government, laws and
Tokyo, Jan. 13. finance, power services, their visible overseas
takes place. lons, and agriculture, indus
The deficit on longer before levelling off. account.
four-man Japanese tuna! "In the face of a trade deficit pages of graphs and statistics t invisibles also will be higher, the
a special Wage Stabilisation Venezuela's imports showed a
gravity," the of unparalleled
trying to settle industry mission is expected to Bourd panel The in-report concluded.-United Press.
statement continued, "it is now
United for the before the CIO'S leave the dispute and trade. A special section is similar steady rice devoted to petroleum, Venezue-crease in the value of imports
apparent that the best prospect strike deadline on February 21. States to petition the Congress of achieving an increase in ex-
Mr Brubaker said the steel for postponement ports is to produce for overseas workers' demand for an 18% proposed bill for a three per sale larger quantities of plant
cents hourly pay increase, a cent duty on taw tuna, accord- machinery and steel goods of all kinds."
situation the Government recent- Holy pointed out that in the face ur of the national steel shortage of 1,500,000 tons, the mounting
Premier, Dr Senanayake, EMBARKATION: claims of the tlefence programme
The first phase of the Governinitiated talks with the Burmese
of investigation
a Premier, Thaicin Nu, for the steri ment's it imperative to allocate and the export drive had made supplies to the most important threatened steel strike ended to- purchase of 600,000 tons of rice day with the CIO Steelworker when he visited Rangoon two Union claiming the industry months agui--Reuter.
50 cents an hour without raising could raise wages as much as
4x
transport, public
works
said
and
la's principal export and the into the country since 1943 hud
main foundation of her seus trade.
over-
been amazing.
"Since Venezuela has no syg
The survey said petroleun: tem of exchange control, trade export figures rose slowly dur-with individual countries does not have to be in balance over ing the period between the two world wars and immediately either a short or a long period: Sales nevertheless with exception after World War Two.
the
had been irregular since 1948, of the British and Dutch West
ECAFE
TALKS
IN RANGOON
Inly survey
of
1 or
Nearer To Reparations Agreement
DOUBLE ADVANTAGE
Mr
Japan Worried
A
soon
on the
guaranteed anal wage and 19ing to Kyudo Press. other concessions were reason-
The decision to send a mis- ables and jualfeble, They wonid not, under existing wage-
wesion was made by the Council price regulations, make the inon Tuna Exports on Saturday, try eligible for a price rise. the report said. It will be head- Tsunejiro Hiratsuke, He disputed industry claims ed by
carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings, only.
Will take place on Friday the 18th January between 2.30
p.m, and 4.00 p.m.
AMENDED
HONG KONG GOVERNMENT IMPORT & EXPORT
LICENCE & DECLARATION
FORMS
THESE FORMS ARE NOW IN FORCE,
ON SALE AT
This policy has double advantage. In the first place it should make it easier for this country to correct the serious de- icit in its visible trade account. Agregate a 50-cent hourly raise Company and ex-Transportation SOUTH CHINA MORNING POST, LTD.
by exporting targer that the steelmakers could Indonesia moved Surons of capital goods and afford even that much without
that the union demands would adviser to the Nichiro Fisheries
but declared Minister-United Press.
for the workers
propte
Hong Kong & Kowloon,
Pacific For East Line, Inc.
Indies, which take large quan titles of Venezuelan exports of crude petroleum for refining and reshipping, and which have
Tokyo, Jan. 13. corresponding share no Venezuela's import trade, most Japan and of her best markets are also closer to #reparations agree-
ment yesterday when both coun- other engineering products to increasing prices by dipping among her best sources of sup-
it into their excees the survey said,
tries made concessions, becord- the rest of the Sterling Area
At the industry's request the Canberra, Jan. 12.
said that trade ing to Foreign Offee pources, should help make it easier for
want Mr. Richard Casey, Australian with Western Germany had now
inio recess until Service reported those countries to make cuts in WBB
their imports from America and February 1. It will be resumed External Affairs Minister, a recovered to the pre-war level do News
today.
in. New York with economist nounced today that Australia and will probably soon exceed
Europe. Director Eli Wijami of the Western will send two representatives to that level. It added that in Asian Affairs Bureau of the Supplies of steel to the export- Murray Emer
detailing the the United States Japanese Foreign Office and Dring ind
industries can
abdel workers meeting of the United
arguments for Nations Ecchamic Commission ports from
cham Common were considerably less in 1950 Djuands, chief of the Indonesian assured, however, if correspond the guttenloed sandal wage, a for Asip TECAFE) in Rangoon this than in previous years, although delegation, met for two boursing cuts are made in Home conayemand The Industry SAN FRANCISCO, LOS ANGELES
imports from France, and the
The third Japanese sumption. The Government is, begin: telling its wide of the month.
to Include dispute on Fetery 4-/United Netherlands rore in compari resterday
therefore, expected plan was presented Imports Iron Britain oorweghe ER that time.
further restrictions on capital in Pre Mr R. J. A Dunlop, Trade on
the talica, Indonesia
in this country among during Commissioner in Calcutta, will were slightly less in 1950 than
hav accepted the economic measures shortly attend the sub-committee on in 1940: H
reported to Venezuela wanted to secure Iran and steel on January 16
Muraduation to 17. Mr Thomas Crithity, entry of her rude all into the the purereview that the to be announced.
the
to
da
vraiment
only
be
Only the rpoel esential invers. Exchange Rates Japen Trade Dr Japan the present crisis. Coal trahi will attend the sub-corante favourable as those which pre-would offer would mat hamper meat will be undertaken during sary for port and power production, will
Acting Commissioner in Malaya,
Lerma United States on
印刷
on Industry and frude, opening Velled before the termination
on January
日 in 1051 at the US and that
Mexhan agreement, the beng balvotog
They with... vene var delo. Aty of which venezola
ates on the mall Commission, by virtue of the port favourA which opens its Cirblini nekalon en nation polity
United two whiels
nesia. will be borne by the other thinki
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