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15
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-1
pr
May
passengers & freight.
freight
Outward For
Mar. 20 Kole, Yokohama
Homeward For
.Mar. IN.. Aftlca & Kurone AN, Attira & Kuroko ME Apr. 12 Marselles vla Manila
7 "N. May
Aftien & Europe
for Saigon, Alexandria,
Tunis, Genoa,
Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Subject To Change WRhout Notice.
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ARRIVALS FROM U.S.A.
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2
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76
Mar. 25
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出57
THE CHINA MAIL, MONDAY, MARCH 10, 1952.
Parq
THE AUSTRALIAN CRISIS ROM ROCKay Lanes
Gravity Of Situation Shocks
Ought To Lift Restrictions
Frankfurt, Mar, 9. All European Currency restrictions ought to bo ifted, the West German Economies Minister. Dr Luawig Eritard, said today.
He was speaking at tho opening of the Frankfurt Spring Fair. Liberalisa tion and currency control cach other. contradicted and the Organisation
Economie European operation and the European Payments Union were
longer habilitate Europe, od.--Reuter,
t chought
for Co-
no
ro-
he add-
Newsprint As A Weapon
Montreal, Mar. 8. Soviet Russia and the
both West
are wooing potential Allies with news- print.
A quietly through
For Freight and Further Particulars please apply to:-- mattonal Materials
AGENTS:
JEBSEN
Pedder Building.
& CO.
Tel: Nos, 36066-9.
Allied Progress In Dissolving Germany's Cartels
Washington, Mar. 8.
Com- Mr John McCloy, United States High missioner for Germany, said today that the Allied au- Germany have made very real thorities in Western and encouraging progress toward breaking huge 1. G. Farben combine into smaller competing companies.
up the
In a letter in Senator Alexander Wiley, Mr McCloy said the Allied authorities have created three major chemical companies from the old Farben assets.
there would be, which should facilitate healthy In addition
German five or six smaller companies development of the capable of emapoting with euch economy and nasist the German people in maintaining a peacetal and democratic society.
other.
He added that this pattern of competition in both consistent with the fundamental palleier of the United States with respect to competitive private enterprise ed at the same time is zerept-
Senator Wiley wrote to Mr McClay Just month asking for
Ꭹ
and statement of policy a progress report on the decar- telisation programme.
pra-Farben combine
able to the German Government. He spoke of the necessity for Mr McCloy said that in its breaking up the old pre-wai
and "nt handling
unti-cartel
the gramme, he believed that the same time allowing the Germans Allied authorities have crented to build up a healthy economy.
UP Sound
conditions
competitive
ICI Issue Big Success In London
London, Mar, 0." Imperial Chemical Industries Limited, Britain's giant chemicals combine, has successfully raised more than £20,000,000 in dow capital,
Its offer of more
than 10 nillion ene-illing shares of a price of 40/Gd. per share has been oversubsørliged. It
Was announced today.
This new may encourage the London Stock Exchange.
During the past week, several now issues of capital by Ameri- can companies have had an un- exportedly good reception in New Yoric
The two things together may suggest that the new capital
markets so gelling over the
worst offcats money irend.
of the
The ICI ksue offered a
Liter jlad
PRODUCTION
He was particularly concerned about the possibility of the Farben cartel reviving.
Wiley said that a re- Scanter turn of Farben to its pre-war status - would "spell very bad ntwe, terrible news, to the United
States, to the Alllest und to the German
nations
people itself,"
In his reply dated Feb. 26, Mr McCloy sald the Allied authori- Hles have been constantly aware
question. in handing the Farben
establishing of the necessity of healthy economic conditions in Germany under the system of competitive free enterprise..
Shocks Britain
Effect Of
On British
Canberra Action
Exports
¡FROM OUR OWN CORRESPONDENT}
London, Mar. 9: British exports of consumer goods are expected to be hard hit by the new import restrictions imposed by the Australian. Government.
Although details of the actual cuts are still awaited, the drastic measures already taken to forestall speculation in advance of the official statement seem to indicate that the Australian Government is preparing a scheme to limit imports to the barest essentials.
While the effect this is bound to have on the United Kingdom's own balance of payments is
fully realised, the move has been welcomed in Lon- HONGKONG
don as evidence of Australia's determination to carry out its share of the task of bringing the Sterling Area into balance with the rest of the world by the second half of this year.
1
been
SHARE MARKET
on the Stock
Australia is one of Bri- į manufacturers were going to tain's best export markets have a wonderful time producing (From Our Correspondent)
which had everything for many types of goods. previously imported; that Aus- Business done Our exports to Australia traiin would, in fact, probably Exchange this morning amount- Inst year amounted to £326 import very little except teaed to $178,631.70. Noon quota- million against imports and petrol and would be ex-
100 ex}!'as and the morning's transac- of steel, textiles and valued at £252 million, giv- Porter
lions: that the Japanese motor-cars: ing us a favourable balance
cconomy would
virtually dis- of £74 million.
appear and that Australian In- dustry
dominate would
the Oriental markets.
TJIBABANK
"TJILUWAU“
ALLINGS
Mar. Seit
MAKARSAN” Mar, 20th
"STRAAT
*110185EPAIN
Ajar. 22nd
"TJKAMPEK"
Mar. 27th
"THWANQI*
Apr. Zud
PEASTWAY
Apr.
6th
"TABHAN"
Apr.
TRAAT SOENDA” Apr.
DIN
"IJIBODAS
Apr. 14th
"HLPWAU"
Apr. Ach
"TEDELBERG" "TRAAT
MAKASBAR" "TASMANN →TIZWAŊDr"
"TĮPONDOK"
*THLUWAR**
"TEGELBERG“
"TJIKAMPEK"
Apr. 251lt Apr. 25th
Apr. 28th May 2nd
Bl May
May 10th
*RUYA" *TJWANGI"
"TULUWAB"
170)1 May
May 27th
June Rød Junk ZNA
June - 180
"THLUWAI"
"STRAAT
MAKASSAR” "TJIWANGI"
KTASMAND
singapore.
America
jakarta, Murabela & Macauzar
Japan Manila,
Bemarang,
Singapore, Sanriiius,”. *. Africa & R. America Djakarta, Tilreken, Bemarang,'-
Surubain & Macassar.
Singapore. 11jzkaria. BORZIATADE.
Butabala & klächidaz
·Hingapore, Venaby & Balawan Dell
samun
Ațănila, Slugapore, S. Africh
Jakarta. T}{rkos, Kamarang,
Burabala 4 Mapsmar singauero, Djakarta,
Burabala & Maraisar..
Japan
Sum$296.
Dikolle, Bluzaporo. Afaurillas, E. & 8,
Africa & H., America
Atagupere. Penang Belawan Doll singapore, . Jakaria. SPRAYANK.
Kurabala & Macausar
Tiirebon,
DJAMAICA,
Kurabala & Macausae
Singapore.
1akarta
Bursala 4 Merguiar
Manila
papare.
Вепатар,
Semarang,
Mauritius,
P."& «R. "AIŅta & 5. America
Threbkh, Semarang,
1jjakarji,
Durabṣla & Marsusar.
Zapap
NERDOTE. Bjakarta, Semarang.
Surabela & Maccat
Kingapore,
"Njrakāta" & Macassar
ARRIVALS
Mar. 13th
Mar. 15th
+
MAT. 20th
Apr. 7th
From
Nemarang,
Масакаат, Surahain. Kamarang,
Djakarta Blazspare
8. America, E. &
Mauriiius, Bingapore
Afrira,
Manlią.
Macassar. Aprabala, Remarank
Djakarta #`Stayspore
Penang, Belawan Unt),
Jakarta & Singapore
Palembang,
General Agents,
HOLLAND EAST ASIA LINE
SHARES BUYERS SELLERS BALES BANKS
BAILINGS TO EUROPE
"ARENDSKERK"
Apr.
ILK Bank 1400 2405
"KIELDRECHT
May
"AAGTEKERK"
June
7th 2th
"BILITAN"
July
7th
Canton
300
were
130
MGS
HK Fre SHIPPING
100
SAILING FROM EUROPE
Balls Rotterdam
Arrives Hongkong
"KIELDRECHT"
Salted Mar BEN
Apr.
Asta Nay...1.50 1.00
“AAGTEKRAX"
HULITAN"
Apr. May
May
June
5th 2nd 28th
Ind
May 10th
June July 4th Aug.
713
th
WORKED TOO WELL These
preconceptiona shared by all political parties and all sections of the com- Bri-munity. What went wrong to
dush these high hopes?
Meanwhile Australia's Ster- ling balances have declined since last June from £800 mil- The Russians are doing it with lion fo about £300 million, and
the drain is continuing. an undisclosed amount of paper|
Australia's demand for Bri- they produce within the Soviet
has been Krently Union and have to spare atte: ish exports
two importunt propaganda influenced by Teesing their machines in the domestic market. I factors, both of a more or less
The Western Puvers are
are doing temporary nature, Last season's the Inter- record
earnings from wool in Conferenze.,
cressed the Australian spending Canadian cpmpanies
power supplied
to indulionary levels, tos-of-the-newsprint-referred creating a strong demand for particularly in to in the conference reports that British gods,
luxury "emergen listed
newsprint the allocations."
Industry SOUTSIF sald the picture is rowing increasingly clear and is something like this:
There has been a lot of trouble In the Middle East and India. It bloomed frst in Iran, then Egypt, then India. And Canadian sources who expressed interest in the movement of Russian newsprint sal that Soviet surpluses went In turn to Iran, Egypt and India. EMERGENCY ALLOCATIONS
The IMC so for has made four emergenes allocations of news- Jatt frem Noth American mille. The most recent gaw. 500 which 1676
class.
more
expensive
At the same time, pressure of demand in the domestic market encouraged a rapid expansion of Australian Industries and this was reflected in the demand for British capital goods.
INSURANCES
Union
DOCKS, ETC.
Whenierk
LAND ETC.
HK Hotel XD
HK Land .. 5012
UTILITIES
TEL
B. Tram (0)
14.03 17.20 LICS
-C. Light ~101 −8
C. L. IN) 5.00
Nothing went wrong with the plan except that it worked too well. 11 has given Australin more factory workers relative to its population than the United the average States but with produst per mon hour about cne-third of the American level and
with its econojny more dependent on imports than ever. Everything has been done to give priority to manufactures.
of form and INDUSTRIALS the expense pastoral production, This has affected not only man-power in agriculture but has also had a marked effect on supplies avai}- able to rural producers after urban requirements have been | COTTONS
Earnings from wool, however, have fallen off sharply in re cent months, making it more difficult to sell British con-atisfied. sumer goods in the Dominion. Some reduction in British ex- ports to Australia during the present
year was therefore expected,
Mr
What
hos
304
Bectric • XD 2014 2034 1333
2000
Telephone
Cament Rope
1012 17 250 4 15%
16.20 181 1800 à 15(a)
104 1034 230 i 10
332
Stoks, mo
Dairy Watson XD A Crawford
On
...... 5835
MISCELLANEOUS At the same me price con- Yonglaze
trols have been used to hold down
food prices while the price of manufactures has been allowed to rise comparatively freely.
incasures
2.90 300 à 216 |
1100 # В
10p @ 5,05
Must Improve Designs
probably result in the automa-Japanese and German cloths.
Currency
'The
GRAVE CONCERN
Mr Clark went on to describe The inalien caused by the
the remedy needed to "clean up to Ecundor ront
wool bcom has been a matter could not get it any other way.
of grave concern in the Do- the mess that the Australian He be- economy has got into." mixion und it Ind
become leved It was necessary for Aus It then allocated the balance
Singapore, Mar. 9. evident that British
exports stalls to of 0.150
tons to five countries
get rid of her Jess
Malayan businessmen have would have to suffer not only to that the Allies sought to draw
economic manufactures and
Brh stile manufce- from a reduction closer to their way of political caused by the decline in wool la demand
Iranster labour and resources to
turers they must improve their thinking Two thousand tone
agriculture, mining and build designs and hasten deliveries if weni
would they These o West Germany. Four rings but also from the dis-
with the ing inflationary polley which
want to compete hundred tons went to Israel, Australian Finance Minister, 750 thus in Spain which could
were Fadden,
recommendations totic hardening of the Australian promised ho ke kay ficit in European pursue.
which could then, contained in д memorandum military operations, 500 tans to
deeply
from the from Chinese textile retallers to shocked with a little help
for strategically important Turkey opinion here, however, is tho United States and Canada," be and 2,000 tons to Yugoslavia.
convertible with gravity of the Australian nnan-made
the cal crisis which has now neces- dollar. So
the far,
International
sitated such stringent remedies, It may have been that the some months ago declared that British public was too preoc n:wsprint was an essential com-
cupled with its own economic
Ia of Britain's spending a happening any case the facts have now higher proportion of her nation- been brought home to it and fal income on defence he sug- they rovcal
situation. far gested Australia should for the more alarming than the one next few years put into the Bri- Lated .
by the Inflationarytish Treasury £100 million ani of last year's
wool nually.
Materials Conference Which
INFLATION WORRY To recompensa Britain for the resultant rise in the price of
the Singapore Secretary Economic Affairs.
The Chinese merchants com- plained that British prints were conservative In design and colour,
"BOOGKERE”
"ANENDİKERK"
PENINSULAR
& ORIENTAL
QUIS HOS
STEAM NAVIGATION - COMPANY
R.M.S. "CORFU"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 14th March at 12.00 noon 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 18th March, 1952.
modliy had allocated only about troubles to notice what has been food exports and in recognition other compared to those frem SPECIAL NOTE: With the exception of hand packages:
37,000 tons. It all went to naio that
Contrrency The said were in special need." United Press.
}
Japanese Production
Successes
Tokyo, Mar, 0. Jupan's production continues at a high rate in several fields, General Headquarters announced today.
The announcement sald the coal mining target for February was achieved well before the end of the mouth. A total of 1,474,300 tons, or 102.5 per cent of the monthly quota, and been Japanese mined by. Feb. 20. com-
credited with miners were aqubling
their output over the same month last year,
WAL
the
In the dissolution of Farben into separate competing panies, individual plants of old combine did not lose any of their productive capacity.
"On the contrary, the release
competitive energics has
Rubber Futures
In S'pore
in
Australia,
much
cffects boom.
At the moment, however, the The trouble apparently goes Australian Government appears deeper than the temporary up to be more concerned with an set af en inflationary demand aspect of the crisis which Mr Bnd will require something
more far-reaching than import cuts by way of solution.
Some Australians are now saying that what is required is nothing lees than the complete re-thinking ct the national economic policies.
They also sold deliveries are slow and shipments out of date by
arrive.- the time they Arsaciated Press.
Exchange Rumours
.
London, Mar. 9. Rumours of Impending changes in Britain's foreign ex-
carried by passengers themselves. ALL BAGOAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only;
EMBARKATION: Will take place on FRIDAY, the 14th March, 1958 between 9.30 am, and 11.00 a.m.
DECLARATIONS
Clank did not mention at all change policy caused some sell- ESSENTIAL SUPPLY CERTIFICATE namely the inflation caused bying of spot Sterleg in the past last year's wool bocen.
week at the lower level pro- This will necessitate a draslis vided by the Bank of England. curtailment of imports of British cirsed unchanged at 2.78- consumer goods (with part- 2.744. Eularly grave consequences for . Other rates closed unchanged. the British textile industry) and The discount
on the French the United Kingdom must be prepared to accept the effect this Frane for one month fall from 17 Fraces 10 10.-United Press. will have on its balance of pay-
At the sime time
"AN OBSESSION" For years Australia has pur-ments.
dis- surd a single-minded policy of
measures will re- industrial expansion. Hundreds inflationary of thousands of migrants have duco the
Australian rato of expansion and this been encouraged to settle there industrial
British exports of and and jobs in the cities. High may harm tariff walls have been built up machinery and plant,
But so long as the Australian to protect its infant industrieu, with the result that wages have economy is capable of further I undoubtedly risen to upecqsome levels.
expansion, aa The prospect of larger rewards i is, there will remain a strong demand for British
Pulp production throughout in the city has attracted labour potentist-
away from agricultural .pur-.
1051
Government
Is
Futures Lower
དོ།
Exchange Rates
Dusiness was done in the local uneNolat exchange market?. This morning of following quicqui 1.3. dollar (per $1) Sterling note (per £11 Indoneris gullópgs. (per; 200) singapore (Straits) Bim tlenla (per 100) ric plastres (per, 100)...
13.85
20.46
Forms 3, 4 & 5 as amended
by the
Government of Hong Kong
NOW ON SALE.
at
SOUTH CHINA MORNING POST LTD.,
Hong Kong & Kowloon,
These amended forms come into force on March 7th.
Pacific Far East Live, Inc.
Fast-Regular Trang-Pacific Service
· OVERLAND NEW YOR CH MONTREAL AND ALL AMI
Jast
after 10
SAN FRANCISCO, LOS ANGELES
DIRECT
ORONTO CANADIAN CITIES
Guam, Marinas Islands, Micronesian Islands -- Regular Service direct; of with transhipmeni.
reported to have suits, with the consequence that capital goods. made possible substantial in- totalled 1,104,328 short- tons instead of becoming one of the creases in contribution made by compared with 035,313 tons in world's principal food-export-
insideli such plants to Germany's needs: 1950.
now Cotton countries Australia for employment and production Ammonia fertiliser plants are producing barely enough food both for domestic consumption exproud to have a capacity of to feed fia own population. and for export"-United Press. 0,653,000 tons this year, on 11 The effects of this "deep- per cent ingrense over the 1951 seated emotional obsession with
New York, Mar. 9. Colton
futures, closed enpacity of 2,306,000, In January, Industrialisation" have been sub-
lower ground, tlicy produced 100,074 tons elected to a editient examination week in
economic making several attempts Colin by Mr Lecord high.
Clark,
rally. At Japanese steel mills exported adviser to the Queensland singe a rout-aided" a53,000 metric tons of steel in Whiting in the "Manchester Friday's close, the list ruled. To
to 69 points or the 11-month period ending Guardian this wook he traced a bale lower than t of nearly six per cent, a much
or 50 cents to $2.05 a the pre- higher yield than people over
Singapore, Mar. 0
Nov. 30, 1051.-- expected to get from so strong Prices of rubber futures new post-war record was Australia's recent economic leading week.
business
The irregularily in the stock) closed today as follows:-
brok along the road of ple plaimel for bleycle productory brok of the Nevertheless, the nows of
broken hopos, Amerkat, along with sec-saw "WILLIAM LUORENDALE totalles: 087,300 11914-
in which oversubscription wil be Number 1 ruliber, per:18.
It was believed, he said, that movement in outsida cam units last year, Truck and bus 100-2
In the
heiped, to cut down modities,
"TRADE - WIND" world there post-war. In 1951 totoiled production. 28,235, compared with 21,100 in would be no fool problem in speculative participation
Australia other than the di- the market. Epot
market 1550, in addition to 11,830 units nosal of unmarketable surpluses; news was mixed. Memphis of small one and truck chassis that the quicker the farm jõpu- raports noted much improved produced last yqit, Associated. Tation could be shitted into the demand from mills during the
Jelly, the better that Australian week-Upited Prear
a bu
pleasant surprizo. Even optimists
June
Apri May had thought that £2,000,000 Number, 2 bber, April 103-116 might be left wiib"the" "under" | Number rubber, April, 10015-107| writers.
Number 4 rubber, April
The offer, was confined storthe Epat rubber Timbaled
Blackcrophi IC's present 100,000-No. 1 pale enepe holdem/Router. :/
10315
in
VOCEA
*WILLIAM' LUCKENBACH”.
Fromm
Arrives
Ban Francisco
Bin Franciaco
| Etralja.
Mar. 16
Mar
Mar 21,
Singapore Peronn
San Francisco Los
Kan Francisco
Los Ang
Far full mstientare calf Uplied States Lines; Co. General Agenis, Queen's Building, Tel: 28158.