1952-01-22

MARITIMES

MESSAGERIES

Arriving Leaving

"ZELIDJA"

*"LA MARSEILLAISE"

{"BASTLA"

{"MOKTAIN"

¡"ZELIDJA"

14 'ch

Feb. 25

الا يا له

Jan

Jan 20

Mar

ង

23 Mar

Jab. 31

Mu } Mai. 26

passengers & freight

Outward for

Salgun

Domsward For

Marseilles via Manija

& Balzan

N. Africa

Europe

N. Africa & Europe X. Africa ♣ Ешгора

freight for Saigon. Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.

Subject To Change Without Notice

CIE DES MESSAGERIES MARITIMES

P.O. Box 68, Hongkong

Queen's Building (gr. floor) Tel. 26651 (3 lines).

M.V. “LA MARSEILLAISE”

will suil for

MARSEILLES

via

MANILA, SAIGON, SINGAPORE, COLOMBO,

PORT SAID.

DJIBOUTI

Saturday the 26th of January at 10 P.M.

Passengers are requested to board the vessel with then cabin baggage on Saturday the 26th of January between C P.M. and 8 P.M.

Baggage room and hold luggage will be registered at Kowloon Godown No. 50 (No. 2 Gate, Canton Road Entrance) on Friday the 25th of January from 9 a.m. to 4 p.m. and on Saturday 26th of January from 9 a.m. to NOON. No baggage will be accepted for registration

after this time.

CIE DES MESSAGERIES MARITIMES 10. Box 53, Hongkong- Queen's Building.

Tel: 26651(3 lines).

Silver Supplies Expected To Be

This Year Ample

New York, Jan, 21.

Mesers Handy and Harman predicted today that there will be ample silver supplles this year and little change in price from the current 88 cents per fine ounce.

The report said th: U.S silver The New York price continued prone was stable throughout 1951 to reprosent the basis for most

with the ceiling availability dome de podučtien #ippert privided be probable nee! for

דני.

in 1952 international transactions and of this held steady throughout most the of the your. Mexico's a least a majer portion of its own pro- duction over th: coming months. Handy and Harman issue daily silver quotation in New York which are the basis for dealings.

In its 36th annual review of the ive market. the Company

Duban supplies have been un- available since last October, but will appear again on probaby the basis of the published rate

of 0.18 ernts.

JAPANESE SILVER

Other stocks might also appear noted that the gentral pattain in the absence of incentive to of the principal silver markets hold out for a higher price and throughout the world did not Japan is a possible source. change much during 1951.

Japanese

Imports Increase

Tokyo, Jan. 21.

Silver production in the Wes- tern Hemisphere declined about seven per cent during the past year to about 130,000,000 ounces. Saudi Arabia was the biggest buyer of Mexican silver, having completed coinage orders the Bank of Mexico for some 21,000,000 ounces, minted in Mexico.

THE CHINA MAIL, TUESDAY, JANUARY 22, 1952.

Wartime Scrip Redemption?

Manila. Jan, 21.

The possible redemption of Japanese wartime scrip it contingeal on Congrca- sional ratification or tɛjec- tom of the Japanese Peace Treaty during the regular sfarle next segaton which weck, the President of the Japanese War Notes Claim- ants" Association,, Mr Emillo Javier, sald today.

Mr Javier” said that if Congress ratified the Treaty, the chanors of nata redemption were remoša, but if Congress rejoula thi Pact, the way remains open for negotiations toward the redemption of the warlime scrip.----France-ProESS,

"Safety First" Attitude

CAUTION OF UK INVESTORS

London, Jan. 21. The Financial Times' in- dex of leading industrials 114.9, closed last week at the lowest since mid- December 1950.

Since New Year's Day, usually expensive shares lost over five per cent of their market value and, since the Con- servatives returned to they have lost about 17 per cent. latest

Importance Of Steel

In World Situation: A Battle Of Output

AMERICA WELL AHEAD

New York, Jan. 21.

The steel-hungry nations of the non-Communist world may find in the United States output of the commodity in 1952 the key to the doubts and fears hidden by the "Iron Curtain."

Steel can do many things in 1952 to answer

HONGKONG

a brooding civilisation's apprehensive questions: "Is there going to be a Third World War? there is, can we win it?"

The metal, an specially the large United States production of it, can, among other things:

-] Me dirtributan from Wash- ingion, en wat her private "adu try. which had the responsibl lity of making the steel, shalt ! plso have the responsibility of

<quitably

1-So contribute to the non- Communist countries' Leerma- ment that the Soviet blor will be deterred from aggression;

building and 2. So help development in those counts/der buting for pearful civilian pup ses that the masses are benefit,d and made more contented and Bus ies vulnerable to Communist

ران

and

effectively

Mr Seniner raised this ques tion in

addre almed directly at Govertement control of the industry.

·Par u ce homie survival," "the preschi controls terminated 21. U

possible moment Governmnt con.rul IX wasteful. arbitrary and to political pressure.

BETTER QUALIFIED

11 WHI comes, so the said. The non-Communi:i agaling

TRUST formes that an aggresso ogrozi varliest them cannot hope to win

Untied Union,

often sub-

those

The two giants, the have

States and the Soviet lenders of the blocs in political conflict, are also engaged in a power

"The Government cangel hot steel-production race.

!closely ic Loueja with: the National

that make Geographic, hundreds of mills

the housands <if Sety in its annual review of strel

1951. in- factories that consume it. the world's output

I be cluded a Soviet claim to have! "Given the oportunity,

the

stuck expanded its steel capreity by lieve

Industry 9 700,000 tons.

better qualified to do the ju faster.

lower CO

mure efficiently and, if the experience of the last few mentis is any criterion, with considerably less

What proemplate: the slump was the request made by Imperial Chemical industries for

£20,500,000 of now "risk capital" |

and simul. frim shareholders

request of tannusly the

the In- huge Associated Electrical dustries for £6,600,000 of new "risk capital".

The reaction taneous. Hostility

Was

was

instan- not so much against the actual terms of the as against the timing trove.

STILL FAR AHEAD

Against that. the United States could show an Increased actual output estimated at about 8,000,000 toms. But the following two factors were more significant:

1.--The increased Soviet To pour £21,000,000 Into an expansion of plants now, when capacity raised the total annual palees are inflated, is itself ques-output in the U.S.S.R. In 35,000,-

000 tons, a figure which 1:onable, it is felt.

United Stades United States Steel Corporation, | achieved alone,

Victorian Britain learned this in the textile and iron and steel industries

To do it now when the coun- try's economy is lurching from side to side, to do it now when the country's leadership may well prove oratorical rather than economic, causes serious doubts. In short, rising misgivings of all sorts are driving investors late an attitude of "safety Arg,

Ford Motors have fallen over 3/- to 47/34. the lowest since last January and representing a Jass of 23 per cent from the prices reached last June in the boom in blue chips.

Imperial Chemicals lost nearly

also

9/83. last week,

as dia Astoriated Electrical Industries.

In Japanese bonds, buying was headlong-United Press,

Wide Advance

In Chicago Grain Prices

producer,

contusion.

"Centrally-administered con- trols will not, and cannot, work efficiently in

capitalisti economy, no matter how Wเร่ง falented and honest the ad-

ministrators may be.

The incalculable complexities of one

great industry in fee

the the economy

enormous 11- tricacies of the marketing operations that make up the distribution of any major pro-

cent

objective which dis- consideration of the

2. The total United States duct in that economy, are simply production in 1951 was short beyond the power of any man 105,000,000 tons-passing the and any planning board to can 100 million mark for the first trol, short of 100 per time and expansion tactilities, military new actually building, will add cards probably 5,600,000 ton: in 1952, civilian economy."

Thus, steel, in addition tu being the "basic sinew" in the struggle between

ideological blocs, seems likely to represen also the banner of those blocs economic system free enter- prise versus State Socialism, Reuter.

Observers in this country see plenty of evidence that the Federal Government and the nation's steel producers are now in fundamental agreement on the need to expand output.

Substantial increase of steel- making facilities is not an over- night job, especially on the scale Or which he United Statex Lukis An open-hearth may be added relatively quickly here and there existing mills, but new mills take time.

NEW MILLS

Foreign Exchanges

In NY

Now hearths were mainly responsible for the 1951 increase of output, The new mills needed for larger increase are only now being built. Some will swell the 1952 total. Others England-officia will not be ready to produce before 1953.

Mr R. F. Sentner, an official

Canda

inspiration thority's Iron and Steel Division France

New York, Jan. 21.

US$0.99

SHARE MARKET

(From Our Correspondent?

Business done on the Stock

this Exchange

morning wa! valued at $423,080. Noon quota-

ions and the morning's trans-

vetions:

SHARKS BUYERS SELLERS BALES

BANKS

HK Bank

INSURANCES

Unlea

Underw

DOCKS, ETC..

K Whorf

Provideor

1685 16 G 1530

* 2500 @ 6.80

2012103.70 1000 v 13,60

Royal ExterOCEAN

"THIGANAS”DE

-VAN BELESZ -TJIWANGI?".

SAILING'S LY

Pare

JAR. "ZAIM stalngapore, Pekang. Belawan Taji

Surabala & Macassar

Singapore, Mauritius, Dar-es-Salam, Zanzibar, H. Africa & S. America

Singapore. Djakarta

Surabalaj & Horasyar

Macassar

Hemarang.

Semarang,

Surabala 2

Singapore, Penang & Belawan Delt

jakarta, Чертатале

Surabais & Macassar

Thirebon

Singapore, Mauritius,

$. America Manila, Singamore *

Djakarta.

"TJTJALENGKA“ Fel

Cih

"TASMAN"

9th

Japan Ports

TJILIWA"

Jeb. 13th

"TIMODAS"

Feb. Inch

1)jakarta,

"TJISADA NE -TASMAN"

TJIWANGI"

Fich. *

274h

Feli 29th

Cangapore,

Mat

Jar Mar 15th

A10

6th

kjakarta.

Surabaía a Macassar

Mar.

2310

Mat

Man **L alar 310

Abc 14141

Djakarta.

**TIIĻUWAIT“

Ape. 1511

1pT Bath Apr

3010

2nd

***TJIPONDO EL **

**TJISADANK"

~TJIPANAS" "TIILUWAIT

STJIKAMPER“

"BOISSEY AIN”

"VAN HEUTSZ" **TJIWANGI

"TIMODAS"

**TASMAN^^ "TJIWANGI"

-STRAAT

MAKASSAR"

**THLUWAB”

"TJIPANAS"

вому 151h

Ningapore,

Suzabala & Macassar

Djakarta, Tiirebon,

Remarang,

Africa

Africa Somaran

Semarang,

Aucabalo & Macassar Manita, Singapore, Afauricius, E. & $.

Africa & 8, Amertes

singapore, Penang & Belawan Dell Singapore,

jakarta,

Surabalu & MACANET

jirebon,

Surabala & Macassar

Semarak,

Semarang,

Singapore, Djakarta, Semarang,

Surebala & Macassar

Singapore, Pennng & Relawan Bell singapore, Jakarta, Remarang,

Surpata maaskar

Manila. Singapore. Mauritius, E. 8.

Africa & S. America Singapore. Djakarta. Remarang,

Surabala & Macausar

ARRIVALS

Jan, 24th

**TJDJALENGKA” Feb. 5th "TASMAN"

"THLUWAH”

TJISADANE"

Feb. Feb. 1003

8th

"VAN HEUTAZ"

րեն 1211

Feb. 23th

From

America. Afriva, Manila

Singapore &

Japan

Penang. Belawan Deli & Singapore Macassar. Surabala, Bemarang,

Dakarta & Singapore 8. Anvertca, E. & S. Africa Singapore &

Stagla

Prong: Belawan Doll & Singapore

General Agents,

HOLLAND EAST ASIA LINE

25 150

SAILINGS TO EUROPE

B00

795

“OVERUSEL"

Feb.

7th

4.00

"HOOGKERK"

Mar

2th

*ARENDEKERK"

Apr

7th

"KIELDRECHT

MAY

7th

201 104

N. P. Wharf 62 Dock

Sails

176

SAILINGS FROM EUROPE

Rotterdam

Arrives Hongkong

**HOOGEERK"

Kalled Jan. 3rd

frb.

4121

"ABENDSKERK”

Jan. 30th

Mar

6th

6.60 5.70 300 ( 160 50!

"KIELDRECHT"

Mar.

Ath

Apr.

10th

"AAGTEKERK"

Apr.

2nd

May

Bib

"OVERIJBEL”

May

2nd

June

ໄດ້

14 193

173% 17% 1000 @ 1736

KING'S BUILDING

TELEPHONES: 28015 TO 28017

......

AGENTS MA, ZVYNNAGIGJET ROAD. 6.

DIS 316, 2

LAND, ETY

HK Holel

HK Land

Humphreys

UTILITIES

Fram

P Tiam (0) 题 P. Tram IN 1934 Star Ferry 112 Lighi (0) 8.03

Electric

...2345

Elec (Bonus)

Telephone

2200 ( 581, 200 # 5816

2000 67 2000

500 @ 2.00 $3000 à 500 1000 6.90

24 O

22 23

16 $

400 e 2235 906 223 600 G 181 2000 1612

INDUSTRIALS

Crmeni .. 17.30

2000 A 17 20

4050 @ 17:30

1000

2014

1930 1924 2000 • 1911⁄2

Rope

STORES, ETC.

Dalry L. Crawford

COTTONS

Ewo

3.10 3.30

MARKING

TIME IN LONDON

London, Jan. 21 Dealers largely marked time on the London Stock Exchatige today while awaiting results of the Commonweal Ministers conference on the gold-dollar

problem.

irregular.

wyere

Industrial *hares

Most mining isuçs showed some firmness, noisy coppers.

The recent furry in Govern- ment bonds continued, with the Young Lean issue bouncing up another 4% points to TO and the Dawes Luan series hitting 63%, a gain of 11⁄2.

The Financial Times daily index of stocks was 114.5-a nesy 1051-52 low, off 0.4. Japanese bonds

"A" ($8. of 1898)

"B" 146.

"!" (as.

-Associated Press and United Press.

2.78%

unofficial

2.32 bia/ 2.37 asked

30-day futures 90-day futures

2.776

******

2.221

2.7624

of 1910)

[$3,

of 1907)

1455

of 1934)

0028-9/16

"E" (5%, of 1934)

4.20

Consols

2605

100%

.1405

0370

0205

Jodas

200

2.891

081

2.31

5975

of the United States Steel Cor-

Australia Chicago, Jan. 21.

poration and for a time director New Zealand Greins managed to draw

of the National Production Au-South Ataken little inflationary

Belthan from President Truman' bud- commented in a recent

Den wark get message to Congress today. "Throughout 3061 It has been West Germany

Prices advanced in all pits. commonly accepted that there Hopland Corn led the upturn, partly be has been a with

shortage of steel. Korway

Italy cause of a feeling there may be Whether this is factual depends Portugal a shortage of this gain before entirely on the definition of the Bpain the new crop comes in.

word shortage.

Eweden More exports of wheat to "With the

Switzerland direct military Japan and West Germany were procurement in 1951 being not MIDDLE EAST expected this week. Egypt also more than 10 per cent, increased Egyp was expected to take

some production alone, in effect, pro- Iran wheat. The prospect of such vided the military needs, leaving frag business alided wheat.

The gain in soybeans was led a measure of steel for all

requirements.

LATIN AMERICA by the January contract. How- 1052, the direct military ever, bean all was quoted at requirements may require as Argentina

Brazil 10% cents a pound against 11% much as 15 per cent of the na-

Ballvia last Friday.

tional production, but this in-bile Wheat closed -1% higher. creased requirement again will Colombia Carn was -1% higher. be largely offset by incressed Cuba

availabilty, "again leaving s

Mexico Oaks closed -1% higher.

Full

Pers Rye was 14-21⁄2 higher.

of steel for all other rugas measure of

Venezuela Soybeans were 14 to three

Mr Seatner said that factors FAR EAST which might retard United

Western Germany took some 14,000,000 ounces, using about 10,000,000 for coinage require- ments and the rest for industrial Japan's imports during 1952 purposes. Both have farther re

for 1952.-United will total approximately $2,100|quirements million to $2,300 million, the Press.

Economic Stabilisation Board estimated today.

The amount will represent an increase of 5 to 15 per cent over the current year's estimated total imports.

The Economic Stabilisation Board estimates the production Index for 1952 at 140, an increase of about 10 per cent over the current year's Agure, with 100 for the 1934-38 level.

A Changed

Attitude

Manila, Jan. 21. The Philippine Secrdary of Commerce, Cormațius Balmaceda, who is to lead the Philippine delegation to the Asla and For In

cents higher.

Wheat

requirements.

March

8.57

States output in

May July Reptember December

„Boybeans January

2011 2.48 2.3114

March

To achieve this plan the East conte confertace following conditions must be Rangoon, was today instructed mir obtained: An output of 6,000,000 by Presiders Elpidio Quirino not tong of roiled stool, Increase in to oppose the attendence of September food imports to meet the anti- Japanese observers at the cam cipated food decontrol and pure førempere penge

chase of more goods from Found

and Open Account areas than

The Secretary of Commerce la

Novembe

from Dollar areas, panded leaving done Rangoon on Wednes Match

The Import Ogüre stood at ind

1100 mulion, beobrains và aldant Ourine all that the

pian submitted to Ambasador” UN on for the Phillpping NEW YORK

at-Largo John Faster Dulles Inst

Navomber.

Changes in both the

then hava nece

The final ula

of the gradual return of

Turkey

1068 were India shortages of scrap and alloying Pakistan materials and pork stoppa Hongkong *Atiy losses of production Bingapore, 3011- through the latter will be irre Japan 1945-6trievably lost” he said.

AN OLD FEAR

Indonesia

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AGENTS:

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Pedder Building

Cotton In

New York

New York, Jan. 21. Cotton futures opened 45 tu 90 cents a bale higher,

004

117

61%

March

May

July

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