THE CHINA MAIL, WEDNESDAY, FEBRUARY 6, 1952.
MARITIMES US Investigates High Plan To Royal InterOCEAN
MESSAGERIES M
Arriving Leäving
""ZELIDJA""
"THEOGENITOR" .....Apr,
Veb, 14
Mar.
: Apr. 1
Mar. 6 Mar, 10
MAJ. 7.
Mar
BEAT. JU
*"FELIX ROUSSEL" ...Mar. B
"MONTAIN".
†"ZELIDJA"
passengers & freight.
M Price Of Newsprint: Committee's Charges
Outward Yar
Kobe, Yokohama
Haiphong
Hosteward 'Vor
Mamaltes via Mandia
N. Aftica & Europe N. Afilea & Europe
freight for Saigon, Port Said, Tunis, Marseilles Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk Antwerp & Rotterdam."
Subject To Change Without Noties
CIE DES MESSAGERIES MARITIMES P.O. Box 68, Hongkong Queen's Building (gr. floor) Tel, 26661 (3 lines).
The Colonies & Food Problems
London, Feb. 5.
The Secretary of State for the Colonies, Mr Oliver Lyttelton, belleves a flow of savings into the development of Britain's own soil and the wealth which lies in the Colonial territories is of utmost importance if food pro- duction is to be increased.
"Wherever you look, that is what is needed," he said, addressing the Basingstoke branch of the National
Farmers' Union.
"We have to bring to our aid every device of ingenuity and
METHOD OF modern practice and we must
PAYMENT
THE SNAG
also give the former assurunces which enoble capital forward to
Washington, Feb. 5.
The House Monopoly Sub-Committee charged today that international price-fixing agreements have inflated the cost of wood pulp, á chief in- gredient of paper products.
At the same time, the Mutual Security Agency told the Special House Sub-Committee on newsprint that Economic Co-operation Adminis- tration funds did not cause increased U.S. exports of sulphur, another important newsprint in- gredient.
The Monopoly Sub-Commitico charged that American users are fed with high prices mainly because a "Scandinavian pulp cartel," representing mills Norway, Finland and Sweden,
In
SERIOUS
has conspired to fix the prices DECLINE
for pulp sold within the United States,
The Congressmen ulso said there is hearsuy evidence that Canadian pulp producers have engaged in price-fixing activities and that individual mills in Swedon even attempted to get United States producers to join In similor a
agreements.
The Sub-Committee sald the, Scandinavian cartel was helped
IN PRICES
Exchange Reserves In Pl Affected
Manila, Feb. 5, in axing prices by its American
Copra and coconut oil prices In Manila have declined to half agents who, with the others, of what they
were a year ago have organised the Association of and to A post-war low, with American Wood Pulp Importers.prospects that Philippines The report said: "This As foreign exchange reserves will be sharply affected in the near future.
a
REO
the
.
Japanese Coal Output Up
in
per
Tokyo, Feb. 5 Coal production Japan Increased 12 Contin
zains 1951 with Paistered in all four .ot the nation's mining dis- triots, Allied fleadquarters announced today. Total production for the усаг was 43.252,088 tans, com- pared with 38,459,222 Conn In 1950.
The Allled report also said tho Japanese ship- building industry turned out 174 steel vessels, not including fishing shine,
Attract Foreign Capital
Feb. 13th
Feb. 18th
Fo. IRA Feb. 20th SAN
АТАЛМАН... TJIBODAS “IJILUWAN "TJADANE”.
"BOBSEVAIN" JIWANGI"
“TJIPANAS
Jul
Bear. Ind
Mar.
A hill relaxing the restric- "TJEPUNDUK" tious on remittances of In-atsADANES
Mar.
teta
Mar.
Eth
Japanese
"TJILUWAG"
"BOISSEYAIN"
Mar. 14th
Tokyo, Feb. 5.
terest and, principal of in- vestments
In
shares will be submitted to
the current Diet, the Fin- | "THKAMPEK“ ance Minister, Hayalo Ikeda, }"rawanɑr", told the Diet yesterday.
Mr.Ikeda said that if the B
YANAKUTAZ" "TJILUWAN"
is approved it will become effec« | "TJшOD&S" tive from April 1.
"STRAAT
"TABLAN" Under the proposed revision, | "KJIWANGE" foreigners who have invested i Japanese socks will be permit- MAKABIAR" ted to remit dividends in accord- "TJILUWAU" ance with epecific yardsticks. provided the dividends are paid in reasonable amounts, Mr Ikeda Bald.
Mar. 25th
Apr. Apr. ti Apr. 10in
Apr. 11th
"Apr.- 25th
May | 206 May, 4th
"Page"
Zawitinr, 8. Africi a 3. Amselen
Diskarta, Semarang, Surabala
Macassar
Kingspora.
Ujakarta,
Kurabala, a Macasiór zada
Japan
Bingapore, Penang & Palawan nati Japan, Say
singapore, à – Djakaināsi Seinatang,
Burabila, MS CASERE { Manila, Bingapore & #jakarta,
's: 'Afrien Tilrabon,.... Semarang, Suunhala & Macassar. Ringapore. Mauritius, B., Africa, ar]
1. America
Blogapore Djukasta,"
sabala Macariar
Manila, Singapore, Mauritius, KM 1.
Africa di B. America Djakarta, son, Tjirebon, demarang,
Aumbala, & Btacaxtar,
Bingapore, Djakarta, „damarang,
Búzakála a atacassar) (RE Kingapore, : Penang & Belawan. Dell Bingapore, Dakarta, Ai, SumaranĮ,
Kümbila & Macassar.
-jakarta, Tjirebon, *** Bumarang, Surabala & Mienagar (AS Stagapers, Penang. & Belawan Doll mipigapore, Djakarta, Jemarang,
Bürebila & MECANIKE Stania, Singapore, šiauritius, E. & S.
Atrica, &· B. Amaries Singapore, Lijakarta, nemBYADE,
Surabala & Sinenser
Japan
May 14th
ARRIVALS
“TJITJALENGKA“ | Fab. | Tub "TASHAN"
Tab. 10t
“TJILUWAR"
"TJISADANE"-
"STRAAT SOENDA” 7th 28th
** Feb, 19th.
Feb. 12th
'Che Finance Minister 4x- plained that the term "reason- able" means three
an equitable sum which reflects the real business | "VAN BEUTSZ" Feb. 7th conditions of the enterprises con- cerned...
during Alo Aral quarters of the 1951 "fiscal. year. Their aggregato ton- noze was 274,003 tona.---- United Presa.
HONGKONG
SHARE
MARKET
(From Our Correspondent)
was
Business done on the Stock Exchange this morning valued at $695,085. Noon quotu tions and the morning's actions:-
trana-
Rescenda, best grade of dried cocdanışs ingat, wad quoted to- day in Manila at 2350 pesos per 100 kilos, and coconut oil at 45 centavos per kilo: A year prices, respectively, were 40 pesos and 87 centavos,
Several reasons have been SHARES BUYERS SELLERS SALES.
| BANKS given for the preral casing of INSURANCES
decline, in- BK Bank carding the generat the post-war world shortage of fats. the use of chemical deler- gents in the laundry and clean-
cf songs DOCKS. ETC. the in industry instead
made from animal any vegeta- ble fats, and the extraction of edible cils from other vegetable sources in larger quantities.
The latest
sociation has discussed prices at its meetings and recommended uniform pricing practices to its principals to look
abroad
and served as proper reward if it vehicle for transmitting collec
decisions of Scan- is invested in agriculture."
tive pricing dinavian It was necessary to increase
producers to their output of many agriculture agents in the United States."
pro- ducts In the Colonica and to The Sub-Committee charged increase
production of the that the Association has also tried to prevent importation of coal,
and copper, minerals,
paper trom Scandinavia phosphates which ile beneath the
that of some
might disturb its alleged price surface of territories.
Axing activities. "Dimeulties are still massive,”-
relate entirely to this matter of Being Keen
capital investment, which has focused on what form of pay-capital ment will be made for scrap to got to be most carefully planned be imported by Japan and how and spent. Indonesia will pay for the order 90,000 tons steel products
Tokyo, Feb. 5.
today said Industrial circles that current negotiations for the purchase of 100,000 lons
thosc
scrap iron from Indonesia are sald Mr Lyttelton "and they facing considerable difficulty.
is
attention
which Japan is to ship in ex- change for
scrap.
put our Sterling house in we have to be extremely tender about the amount of capital monies which we invest anywhere, and what we want to gel out of agriculture is the and Steel Federation, set up maximum output by only making test yesterday Invited - the most essential capital invest- ment, ternational Trade and Industry
A sub-committee of the Iron
Ministry
officials for an elange of views,
Inment.
ex-
be
........... HEARSAY. EVIDENCE
available reports foreign trade. for las! November, show that out of a total Import-export
trade the valued at $75,100,000 for month, there was an unfavour- able balance of $25,950,000. For phed a year so ble Philippines a favourable trade balance of $10,550,000.
.. 1500 1000
...... 780 78
400
Union Underwrkers SHIPPING
Asla. Nav......1.50 1.75
X. Wharf
10235
N. P. Wharf 7.10 -75% Dock
Provident
Wheelock LAND, ETC.
I Д 50-yen shore is trans- acted at 500-yen, or if dividends are being paid at such high rates as 50 to 80 per cent, limits on remitances will be determined on the basis of the par value of the shares in question, Mr Ikeda stated.'
From
Perang,Betawan, Deli &' #tugupora MECAREAT, surable, Remarang,
Dakaria & Singapore 1. America, K. & B. Africa Blogapdre de
Manila
Penang. Belawan Daži &, Kingaporə 8. America, S. Affies, Wingapore
6. Manila
General Agents,
HOLLAND EAST ASIA LINE
SAILINGS TO EUROPE
"OVERUSEL" \ "HOOGKER»-
Mar.
Apr.
May
"KIELDRECHT" SAILINGS FROM EUROPE
"ROOGXENK"
"ARENDSKERRY "KJALDKECHT" "AAGTEKETT" "OVERUJNAL”.
Mr Ikeda suld the Govern- ment was currently negotiating "ARENDOKERK“ with the International Monetary Fund with a view to raising the allocation of Japan's allocation from $250,000,000 to $300,000,- 000. He was extremely dis- satisfied with the proposed of $230,000,000 allocation because St meant that they a third-class regarded Japan as country,
Mr Ikeda declared that the Government would try to repay all its foreign debts to maintain fts high international reputation and pave the way for a flow of foreign capital-France-Presse.
84100,617.83 17.70
1500 17.00
Ik Hotel .... 5.10.
While Its evidence on Canadian price-Axing is entirely hearsay, the Sub-Committee said, "It nevertheless suggests that the Canadians.... have not been guided by the broad principles of the anti-trust laws in their dealings within the United States.
As regards sulphur exports, the Director the. Mutual
of Security,
materials Agency's branch, Mr T. L. Sweet, told the Nowsprint Sub-Committee that increased foreign purchases of
The Philippines had a favour- U.S. sulphur began long before
able balance in November, 1931 E.C.A. funds were being distr with
Japan, Great Britain. abroad to bolster the Belgium, the Netherlands, Italy TILITIES
of
the
friendly free Denmark. But economles
and
with the nations..
United States, which accounted The Sub-Committee, heades!
for 73 per cent of Imports and by Mr Beckworth, held hearings 54 per ceat of exports, last September on the newsprint Philippines had an unfavourable shortage. At the same time, bstance of $23,700,000. Canadian newsprint makers said that they would not be able furnish their full the
of quota unless paper
they were assured of more sulphur,
The United States produces about 90 per cent of the world sulphur supply.
ELECTRIC RESULTS "Whenever investment has to cut down, either in industry Indonesia has demanded that or agriculture, you are, of course, Japan pay in dollars for scrup striking blow
at the pro- while Indonesia will pay inductivity of that industry. Pounds Sterling for the steel
"We
just cannot help that," he products
which it intends to
But the Bold"
return on invest import. This, these circles point
ment in agriculture
now, in neur out, will bring about a further buildings, In grain driers and plling of Pounds Sterling modern milking equipment and
up which Japan already possesses so forth, yields a return which in excess.
would make the mouth Meanwhile the United States ordinary industrialist water.
expressing considerable anxiety over the Import of Japan's steel products by In- donesia because of the possibility
merchants
that Chinese Indonesia may export them to Red China-France-Presse,, -
Record Output Of Rayons
New York, Feb. 5. Domostic rayon and acetate
production
yam
reached
pro-
recard, peak in 1951 but
ducers
stocks swelled
100,500,000 pounds, an increase
of neary 1,000,000
with 1950.
compared
Rayon and acetate production
figures do not
cellulose.. base
Include
manufactured
non-
Mr Lyttelton added that where he had been responsible for the Investment of trust funds in agriculture, he had, in quite a short time, seen electric results achieved, eved,
buted
Ja
to Mr Beckworth, a letter Mr Sweet showed by chorts that "I believe profoundly there is
a large Increase in sulphur ex- no contribution so great or 50 ports to
nations the European valuable to this country, or to
the in 1947, before Occurred
the Sterling Area, than this one E.C.A. programme began. Since of grawing more foed." London then, he sals, there has been a
Express Service.
+
Foreign Exchanges In NY
Conada yarns and fibres such as dynel, England nylon, protein abre, soran, etc., Dalicia! which in
the aggregate
unemeist pro- duced an estimated total
30-day futures of
00-day futures 210,000,000 pounds in 1951, an Australia increase of 34 per cent, com- New Zealand"
3
with 1950.
rayon
steady decrease in sulphur ex- ports.
NOT ECA'S DOING U.S. sulphur expor-s from 1947 through the first six months of 1051 to all countries outside
the
S'hat Land Humphreys
1.80
15
4335 -200 66 43%
3500
2000
1000
# 0002
3200
1000
750
7.89
72
7.6Q
500 g 732
1000 7,5 8500 @ The 300 7.05
2000 5.10
Germany Wants More Cotton
.
Washington, Feb. 5. The Agriculture Department's "Foreign Crops publication, and Markets," said today
that
the German colten industry has placed is overat requirements for the period at about 1,025,000 then bales, considerably more the 925,000 bales imported last season.
Sirlyek Hongkong
Baila flotterdam
Balled Jan. 3rd
Fab. Biti
Bailed Jan. 31st
Mary
Mus.
Apr.
Apr.
May
June
Bib yog
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND -PANAMA,
NEXT SAILINGS
M.S. "OLGA MAERSK”
Feb.
M.S.
"JEPPESEN MAERSK”
Feb.:
M.S.
"HULDA MAERSK"
Mor.
ARRIVALS FROM" U.S.A..
M.S. "TREIN MAERSK"
Feb. 16
10
M.S. "PETER MAERSK”
Feb. 29
more
M.S. "NICOLINE MAERSK”,
Mar. 16
is *TYAM
• 17,85 2000 @ 175, "The sum of $81,000,000
B500 17.63
available for the import of del Star Ferry 11735
3000 1185 C. Light (0) 872 8.60 500 12 0.80 lar cotton. The higher prices 2000 DAS of other foreign cotton relative 1000 8,00
the to the United States and 1000-exican growths are reported 24500# 0.80
Mectric
the
C. Light (N)
.8.20 24
Electric
2345
2214 1400 4 zajk 500 2 23.10
The peso is selling on black market at 2.00 to the dollar and above. It officially is pegged by treaty with the United States at two pesos for! INDUSTRIALS
a tollar.
T
! Telephone
Cement .... 18.40 1816 2000 # 15.70 Rope
2424 The price of rice is up 2.35 STORES, ETC.
Dairy ...... 2012 2014 pesos over a month ago. A 50. kilo sack sells for 23.60 pesos, → Associated Press.
Recovery In
New York
North America totalled 3,497,007 Cotton Price
long tons. E.C.A, funds, he said,
had Ananced 31.8 per cent of the total.
Despite this," Mr Sweel said,
Watson
Word 201
COTTONS
Ewe
500 a 2016 800 201
201
250 @ 2016
14 3.20 500 a
Grain Prices
In Chicago
to
to have ed some spinners feel it imperative that dollar cotton, be purchased
sure to German goods a com- world reiitive position in the textile market.
"Current consumption is ex- pecled to be slightly below the 1,007,000 bales of last season, and as of ast Dec. 30 were only about 70,000
there
bales In stock. This compares with 163,000 bates. In stock on August 1, 1951. United Press
The Rubber
Markets
Singapore, Feb. 5. *Prices of rubber future closed today as follows:- Number 1 rubber, per lb.
2.55%
2.31%
24818-4 2.47%
February
March
Number 3 rubber,
February
nominal
Number 4 rubber,
2.503
$85
18- 1.844-
Chicago, Feb. 5. Prices of grain futures clososi New York, Feb. 5.
today, as follows:→→ Cotton futures came "we do not belleve one can as-
back Wheat Price per bushel
The Spot sume that Increases in the US strong after a weak start, export of sulphur can be attribu-overy in grains and securities March
helped to turn the tide. Prices May Joly ted to the ECA's activity."
ralled as much as 50 points from September Foreign countries would have the lows and closed around the December found dollars to buy sulphur
highs for the day. The action Corn from other sources because, they of nearby March delivery con- Spat needed it for sound economie tinued to make strong impression say
World production of sulphuron some buyers, bearing pyrite fell to a new low 0028-9/14 immediately after World War II. Mr Sweet sald U.S. sulphur was of the highest quality and much cheaper, to foreign sources dropped their traditional sources. of
These pyrites. now are being built up again," especially in Spain, Mr Sweet said.
New York, Feb.
........ US$0 99-15/16
2.7812 231 Baked 2.77%
2.761%
2
-
2.793%
0198 .1455
West Germany
.20
2020
.1405
.0370
Bouth Africa Belgium and acetato Denmaric production last year also sut arunce
with п
pounds. Holland
Italy
new all-time record,
total of 3,000,000,000
estimated for all producere on Norway the globe, which is a gain of 13 Portugal per cent compared with
the Spain
previous "record established the Sweden
Switzerland
year before, The U.S. produc-iddle East tien in 1951 constituted 39 por Egypt cont of the world, total against | Tran 30 per cent in 1930 and 17 per rag cent, in 1939, United Press.
Tobacco Crop In
Turkey
Lath America Argentina Brazil Bolivia Chile Columbla Cuba
South Africa Mexico
Paru
Washington, Feb. 5.. Uruguay The unofficial forecast of Venezuela. South Africa'd 1051-52 tobacco Far East
India
production was 12 to 10 per Pakistan cent less than the official crop | Hongkong estimate for the previous year, Indonesia the Agriculture Department re- Singapore
Japan. ports.
The unofficial forecast is 40
to 43 million pounds, compared
2.8816
12.03.
$375
1500
0100
1,00
1185.
650
2008
2:030
(2030
1750
USIL
340 yen to
United; Press.
purposes.
sources
United States sulphur exports to the E.C.A. countries increased from 109,400 long tons in 1939 to 569,300 tons in 1947. Sinse" then, Mr. Sweet said, there had been only a slight rise · in ex- ports and they totalled 282,500 tons in the first six months of 1051-United Press.
LONDON TIN
MARKET
London, Feb; 8.
The tin market was firm this
morning. Turnover'; was
Spot March,
March
July
· 1.843%-31⁄2
Prices closed as follows:-
September December
1.7935
Rre
42.47
41.00
| March
41.42
40.61
May Usta
1.0634-1.07 1,021
37.67
December
37.40-37.41
March (1053)
May July
May
July
October
37.27 nominal
37.07 nominal
38.71 via
United Press, NEW ORLEANS MARKET
Spot March May July October December March (1053) May July
40.65
57.24 tild
50.58 bid United Pres
'March
Kay
February
Spot rubber, unbated.
Black crepe
No. 1 pajo crepa
.t
120-12016
For Freight and Further Particulars please apply to:--
AGENTS:
JEBSEN
Pedder Building.
& CO.
Tel: Nos. 36066-9. ̧
PATTISON ORIENT LINE
5.S. "LA
231-13135 13134-13115
Duo From:
Kobe Feb:
127-123 131-131%
150-159
United Press
LONDON MARKET
London, Feb. 5. Prices of rubber today fell
24 877-4 four-per 200 lb. Gack 14 d. a pound. The decline New York
reflected the weakness in, the 812.60-United, Pren
Enst where the price dropped six conte a pound, in Singapore on the variation of the Indo-
New York Sugar resan exchange rates, United
Futures
New York, Fell: 5.5 World sugar futures closed today. unchanged to 11 higher. with sales, totaiļinga 224 cons tracis.
Press.
10th, 1952
LIMITED
·PATTISON"
12-14 Queen's Road, Central,
Sails For:
DIRECT Pusan” & Japan Feb. 15th.
CHINESE AGENTS:
Tol. 25845!"
OVERSEAS CHINESE STEAMSHIP CO. 48, Bonham Strand, West, 1st Floor,
Tels. 26127, 31118 & 81119. ¿
Pacific Far East Line, Juc.
Fast Regular Trans-Pacific Service
Contract No. 6 closed 1 to 4.
DIRECT higher with sales totalling 230
SAN FRANCISCO, LOS ANGELES
Fepper Market contracts,
with the eflent estimate of Exchange Rates ometal morning canon among grinders,
th
47,700,000 pounds for the pre- vious crop year! The reduced total production is primarily Dysiness was done in the local due to the change in the type nafclaschetre market this
morning at the following ratest- or car produced, plus un dollar (per: 81}· faldurable growing conditions, sering note per cij inbluding storms, which Indonesin gultiform (per
*3,000,000
destroyed about pounds,United. Press;"
Blanton + {peg 100); Bingapore (8)raitey FIC plaetena (per 100)
-0.708
CONTRACT NO, 4 {world}"
4.43 4.45 hid
New York, Fab, 5, The pepper market, ruled March 110 | firmer" with dealers reparting day. tons, all for forward. positions. | Improved buying
interest Reptember
July Prices closed, at the end of the
A November. Spot block pepper was quoted Spot at $1,40-and-affonts at $1.30 a pound. On boats about to clear from India local resellers starih Indicated at $1,34 to $1.38 aday pound. February shipment was Jabr quoted at $1.34 2 pound, all on alex-dock... basis, United
| Spot_
followk
Spot ta. buyer's Spot tin. sellers : Esiness done at Three nonths tin,
buyer. PAJARNAS "Thres-months ta..
sojiars
·Bizniness done at Settlement
1,002154 1,004
j-1,0023
Novem
· OVERLAND V- NEW YORK-CHICAGO-DETROIT-TORONTO 'MONTÉEAL AND ALL AMERICAN 4. CANADIAN CITIES
Guam, Mariñas Islands, Micronesian Kalands - Regular Sölvion direct or with transhipment.
From
Artip
(4.48 Uid:
Vessai
*WILLIAM LUCKENDACJI“
San Francisco
Nr. 10
CONTRACT NO.
8:36 nominal
"TRADE WIND":
San Francisco
·Blar. 20
0.81 Bid
3.07
6.70 but
„United PreOK.
Balls
Papang & Port.
"For":fn)] = particulara call' United States Lines Co. General Agonis; Queen's Building, Tölz 22194,