MESSAGERIES M
"LA MARSEILLAISE” "MAPLE REL"
THE CHINA MAIL, MONDAY, MARCH 24, 1952.
MARITIMES DOG BITES
M
Criticism Of Cuts
Arriving, Leaving
.Yar. 31
Apr. ย
Apr.
Outward For
Yokohama & Kohe
Homeward Yor
"JEAN DUFUIS"
Mar. 27 Star. 29
#hiptrong & Salzon
1"ZELINJA"
Apr. +
"LA MARSEILLAISE"
5 N. Africa & Europe Apr Apr. 12 Marseilles via Manila
"BEAUVAIS"
Apr. 10 May 1 May 2 N. Afries Europa
Genoa,
† freight for Saigon, Alexandria, Tunis,
Marseilles, Algiers, Oran, Tangier, Casablanca, 'Havre, Dunkirk, Antwerp & Rotterdam.
Subject To Change Without Notice.
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M.S.
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Ai
Calling Vancouver.
M.S.
"SALLY MAERSK”
M.S.
"OLUF MAERSK"
M.S.
"LEXA MAERSK"
ARRIVALS FROM U.S.A.
Apr. Apr. 16 May 2
17
26 Mur. Mar. 30 Apr. 17
For Freight and Further Particulars please apply to:-
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India-Pakistan Finance Talks
The
Karachi, Mar, 23.
2:12
Finance Ministers of India and Pakistan will hold exploratory falks this the outstanding *eck
between financial Issues
the the 1wo rountries, Indian Finance Minister, sold here Mr Deshmukh today.
Mr Deshmukh is here to irad the Zaulan delegation
In the Colombs Plan talks. -France-Presse,
DOG' POLICY ROYAL INTEROCEAN LINES
In Empire Imports
Serious Effect Of Measures
On Britain's
Exports
(FROM OUR OWN CORRESPONDENT)
London, Mar, 23. Southern Rhodesia will probably be the next Commonwealth country to announce cuts in her import programme. It is unlikely, how- ever, that these will seriously affect trade within the Sterling Area.
**TJIKAMPEK"
"STRAAT
MAKASBAR" *THWANGI",
"VAN BEUT1Z"
"EASTWAY"
"STRAAT
SAILING'S
To
Djakaria, Tjitskan,
Nuralisia & Machasar
Jakarta,
hurabala & Macassar Megaporn Kay Africa
BemarABS,
Betnrang.
-Singapore, Djakārta & Belawan Delt
Japan
Manila, Singapore, S. Africa
Bjakarta,
Tjirebon,
Surabain Macar
Bingapore. Djakaria, Semarang,
Surabala "Mineassur
Blogapore, Penang Belawan Dall Singapore,
jakarta,
Sarabia & Moennaar
Djakarla,
Semarang.
Tjirebon, Setantang,
surahala &"Marausar
Manita, Singapore, Mauritis», 9, Africa
& 5. Ametles,
Djakarta,
Semarang.
Afar, th
Apr. 204
Japan
Apr.
2nd
Apr.
ath
Ap
ርኒ
*TASMAN"
ቦ.
ALIY
"STRAAT SOENDÁ" Apr.
6411
TJODAS"
Apr. 3301
+
"TAKUWAU"
Apr. 10th
"TABMAN"
Арг, 28
"TJIWANUT"
ALAY
End
TJIPONDOK"
Stay
May th
MAKASSAR” "TEGELDENO"" "TIHLUWAH"
"TJIKAMPEK"
MAY
1310
Japast
May
16ft
Singapore,
May 24th
alay 27th Jo 2nd
Заран
Singapore,
Juno
Oth
"TJIRODAS“
June 13th
S. Mrica &8, America Djakarta. Treban.
"TILUWAH"
June 16th
"TJIWANGI"
July
2nd
"TJIPANAS"
July
#th
Manita.
"BUY"
July 9th
ARRIVALS
From
Mar. 26th
America, E. &
*KUYA"
TJWANGI"
Like those made by the three East African colonies they will probably be designed to reduce imports mainly from non-Sterling TEGELBERG" countries.
Mr Whitehead, the Finance Minister, revealed that Southern Rhodesia had an adverse balance of
Decline Intrade in 1951 amounting to £34 million. Its balance
U.S. Cost Of Living
of payments deficit was 241-million.
Long-term borrowing und) Textile exports present a more exports difficult problem. Our private investment helped toot textiles last year amounted to fill some of this gap but £535 million compared with
re- £415 million in 1950,
overseas reserves were
Africa
HONGKONG SHARE MARKET
duced by nearly £11 millión. Australia took 20 per cent of
(From Our Correspondent) exports of cotton Main reason for this, Mr the British Chicago, Mar. 25.
Business done on the Stock food prices have Whitehead sald, was the wursen-piece-goods and South
At best, Exchange this morning amount- U.S.
ing of Southern Rhodesla's terms another 13 per cent.
therefore, it is unlikely that again dropped and the af trade. Tobacco exports were more than 25 million worth of ed to $258,805.10. Noon quota- Government reported
the down by £ 3 million-the result textile exports could be diverted i tions and the morning's trans- sharpest decline in the cost of diught--and the price of gold, to other markets.
other country's
importunt of living since 1949.
export, was pogged until towards the close of the year.
Price declines were reported on a wide range of commodities, from butter and eggs to television
Ta Chiengo, chan stores cul Later another 2 to 4 cents for at overal decline of 17 rents n pound see Feb. 29. One store old top grade butter at 77 cents
pound,
the
On the other hand, drought had made it necessary to import large quantities of grain and stock feeds, and stockpiling had further depleted reserves.
While prospects for 1952 were much
brighter, certain import cuts would have to be made, he Most of them would fall said, on non-Sterling goods but Mr Whitehead warned that there In New York the Department would also have to be "a small uf Markets reported eggs, in- but not really serious net decline duding large grade "A" varies in Southern Rhodesia's Sterling "Wait, "salling" at a six-year-low.imports."
Hog prices on the major markets in the Eastern portion of the cornbelt were 25 to 50 cents
100 pounds lower.
The declining price of wool and leather goods prompted the re- moval of price ceilings earlier last week.
In New York, Emerson Radio and Phonograph Corporation cut
prices by more than 25 per cent un some motiels. The price cuts ranged from $20 to $100, Earlier, Electric find cul General television prices $20 to $90.
to Yokohama and Kobe
11th April, 6 p.m. ending Feb. Arriving from Japan
Roundtrip Fares
1st Class
Tourist
HK$910 to HK$1,160 HK$600 to HK$ 640
Excursions in Japan arranged on application.
This would be mainly on the consumer goods, side.
SERIOUS CONCERN
Prospect of further cuts in inter-Commonwealth trade is certain to lead to fresh protests against this method of bringing the payments accounts of in- dividual Sterling countries into bance this year,
circles.
. From these "guesses," "The Economist" estimates that some £130 million out of the cul of £280 million might be diverted. leaving a net decline in total exports of about £150 million.
actions:-
SHARES BUYERS SELLENS SALES BANKS
1470
1 Bank XD East Astu
INSURANCES
Union SHIPPING
Asta
..14012
"STRAAT
MAKASSAR" "TJIWANGI"
"TABMAN"
"THUWAÐ"
Mar. 2912
Hurabala & Alacasar
Djakarta, Tillion, Rematang.
Nutrabala & Macassar.
Bjakarta,
Surabala & Macassar
Manilo,
Benirrang.
Bingapore, Mauritius,
Surabaja & Macassar
Semarang,
Singapore, Djakaria, Semarang.
Surabala & Macassar
Singapore. Djakarta,
Surabain & Macassar
Singapore,
ES. Atries
Semarang,
Prosur.
&
Manila, Ningapore, Mauritius, S. Africa.
A S. Ameriza
Africa,
Semarang,
Mauritius, Singapore & Manila.
Surabala, Djakārta & Singapore
Palembang,
Semarang,
Магдалг
Apr,
7th
Apr. 13th
Penang, Helwan Vell,
Djakarta, & Stugapore
Surabala, Macassar.
Djakarta &.&ingapore
General Agents,
HOLLAND EAST ASIA LINE
"ARENDSKLOK“ "KIELDRECHT" 733AAGTEKERK"
720 73714 20 735 "BLITAR
89 50007
107% 27.75
No 1,70 DOCKS. ETC.
K. Wharf XD Dock Wheelock...
the LAND, XTC.
ཥ
EXTRA EFFORT
But, it adds, this Ogure is not put forward as a factur forecast-"It merely shows extent to which extra effort must be made to expand exports so that there will still be some promise that the British pay- inents account can be brought into balance.”-~-
Public discussion of these cuts has centred on the question of whether or not Import restric- tions within the Sterling Area were visualised by the Common- wealth Finance Ministers at their recent London conference. Mr Butler, the Chancellor of has said that
the Exchequtely no under-1
on
SAILINGS TO EUROPE
Apr. May Juno
Eth
1th
July
BAILING FROM EUROPE
Salla ILotterdam
Arrives
Hongkong
"KIELDRECHT"
Halled Mar.
3th
Apr.
103年
Apt.
3th
May
10th
May
2nd
June
2th..
"OGOKKAK“
May
26th
July
"ARENDSKERK"
Jano zad
ABE.
7th
TO 2801
43 431 500 # 131⁄2"AAGTEKERK"
500 40 "BLITAR
190
3000 43
HK Holel XD 7.00 5.10 1860 HK Land XD 42 1.33 0766 r. 14
Shat Land. UTILITLES
Trom XD
.. 15.550
1300 16.30
1000 G 15.0
500+ 13.75
100
P. Tram (01 24
100 200 6 Star Ferry X C. Light 0.40 25 340 35 500 8.40
C. Light (N) 5.00 5.70 Electric
XD 20.30 2015
GDG 20.40
40
5
2400 f 5.60
1000 20.38
30 10
500 l 2017
Telephone INDUSTRIALS
Cement XD. 13
Roge XD... 173, STORES, ETC.
Dairy
14 500 13.45 500 13.75
18.00.10.40 1300 10.70 Watson XD, 21:50 Walton (Ris) 1.80
21.00 L Crawford 321% COTTONS
2.06 MISCELLANEOUS
Yangisze... 4.85.
EWO
Stock
Exchange
New York, Mor. 22. Stocks drifted irregularly tedny nod only a few in-
there star was Effect of this policy on Britain's standing at the conference that
one overseas trade has become the cut imports from another.
Sterling Arca country could widely discussed of all
"All aspects of the matter were ost current economic problems in considered," he added, "but we political as well as financial had
that would no idea Serious concern has been ex-of our
necessarily
conference as a result In Washington, the Govern-
This bro ment reported that the cost of pressed lest the restrictions im-
an immediate and New York brought an living had declined for the first posed by certain Commonwealth indignant reply from Australia, make it, im-where Government spokesmen time since last July in the month countries should
The drop possible for Britain to balance are reported to have said that 15,
Tick own-overseas account.
although specific cuts were not brought an automatic wage cut
to 1,150,000 On the political side, fear of agreed upon, restrictions of a cent an hour
the consumer whose wages unemployment in railroad workers
trade Sterling
were clearly. are tied to the cost of living by goods trades-particularly in the meant to be included in the dividual issues managed to pull
textile contract,
industry-has proused
used general overall policy of reduc- out of the price rut. Oils re- strong criticism of what is re-
gistered the greatest changes Labour garded as "dog bites dog" policy. Imports,
Motors had little The
both ways. by Australiu cuts imposed by are, from the British
attention. Utilities were slightly exporter's
This apparent Inck of co- better. point of view, the most sect ordination between the Common- Dow Jones averages at the
these will Exactly how British exports is not yet known wealth countries
maiters end of the session:-- economic 30 industrials but it has been estimated that of affecting a common
polley has the £600 million reduction
been deplored by 20 rails Australian imports no less than politicians on both sides of the 15 utilities £250 million will fall on goods, House of Commons as well as by 40 bands from this country.
large sections of the Press and public opinion.
ان
The Bureau Statistics said the cost of living decling was 6/10 of one per cent, since December, the sharpest 1940.
The National Industrial Con- Terence Board in New York re- ported that its consumer price index last month fell back to the level of October, 1951. The Board said it was the first sizable
COMPAGNIE DES MESSAGERIES | den since early 1950--United
Queen's Building.
MARITIMES
Investors Hunt For
Bargains
London, Mar. 23.
Investors have had ten days
Tel: 26651
NEW TRADE
TREATY PROPOSED
France has
Tokyo, Mar, 23,
semi-affleially
In which to think out the im-proposed to Japan a trade, and plications of Mr Butler's Budget. navigation treaty.
The strength of Sterling has encouraged investors to resume
bargain-hunting
their
Government stocks,
in
This bargain-hunting has con- centrated upon nationalisation Brush Trans- stacka, notably
to conclude
The proposal is under study by Japancre experts,
Japan wishes similar treaties shortly with the United States, 'Italy, India, Pokiston and Indonesia.
Press.
Investment Promotion Advocated
GRAVE THREAT
New Zealand's exports are expected to decline by about million, of which a little
£50
by the
has
MP DEMAND
on
A
Асустве cuta
265,00 80.00
BENN LINE
FAST. SERVICE TO UNITED KINGDOM AND CONTINENT
BY
S.S. "BENAVON"
Loading At Buoy A-2 24th March
DIRECT FOR SINGAPORE
THENCE
LIVERPOOL, GLASGOW, DUBLIN, AND HULL.
ALSO ACCEPTS CARGO FOR PORT SUDAN & PORT SAID.
50.44 W.R. LOXLEY & CO., (CHINA) LTD.
181.13
United Press.
GRAIN EXPORTS BY AMERICA.
Washington, Mar, 23. The Goverripent announced that commercial and Govern- ment exports of bulk wheat, rye, coarve grains and oil seeds are scheduled at 1.983.000 long 000,000 1012 in May. tons in April, and about 75,-
Certain Socialist MPs have gone so far as to demand completely new Commonwealth economic conference to recon- alder
ilder the decisions taken in more than half might be borno January.
and Sterling Area
Conservative MPs, have not Western Europe, while the £70 gone to this extreme but many million cut in
South Africa's of them are nonetheless concern bill import
reduc- might mean a
ed about the possible tion in Britain's exports to that effects of the import country by som £1 million.
Britain's economic situation. Altogether it
been
Several of them have revived estimated that of the £550
the demand, often heard during million of import cuts imposed the Finance Ministers' talks, for clude
The April shipments will in- | by these three countries alone. some
about 1,482,000 tons of form of permanent bread grains and 501,000 tors some £280 million might fall machinery to co-ordinate. Com of contre grains and oil, sauce Washington, Mar. 23.
A. Johnston Chair-
on Britain.
will include Mr Eric
these figures this monwealth economie palley along May shipments Analysing
agreed lines.
44,000,000 bushels of man of the Foreign. Aid Advisory
Tho
Economist" all-out week-end, Board, today urged
This, they believe, is the only bread grains and about 19,000,- Government campaign to pro- calculates that perhaps some £75
in way of preventing further mis-000 bushels of coarse grains and s'of Brlish business and ease the foreign aid burden the American laxpayer.
"With
about
mate private Investments abroad lielos (p3riicularly mater cars) | Understandings arising in future oil seeds---Associated Press.
ut?
Jap Shipping
may be lost, up to £100 million and of avoiding any repetition of on textiles (after taking account the damage caused to exporters stocks existing in by a unilateral breach of con- of of the large the greater use
tracts, private capital," he said in an the three southern Dominions), interview, much of the costly some 205 million on consumer foreign assistance programme goods such as pottery, vacuum could be eliminated entirely." The Japanese Government also
cleaners and refrigerators, and portation, which have risen wishes to conclude an agreement
£40 million on caplial goods and Mr Johnston submitted the raw materials. for restoration of similar treaties Movements in industrials have with Sweden, Brazil, Argentina, iden for the campaign at a meet- It is obvious from these rough
yesterday
that the cuts im- been erratic, Rayon shares have Uruguay and ether, countries ing
President calculations been weak with Courtaulds
which were
at war with Truman's Foreign Aid Advisory posed by Australia, New Zealand losing 1/3d. and
Board. British Japan.
and South Africa constitute Celanese 3/~
Before the war Japan had
grave throat to the British export Consols gained 12/04, to trade and
navigation treaties
programme and to full employ- ment at home. £50 and War Loan 3/9d. to with 32 £44.
Presse. 21972
Old
erratic.
shares were equally
were Royal Dutch
not
countries.-France-
active with large gains and Rubber Futures
lasers, but succeeded only in
closing unchanged at £28
Anglo-Iranton and Burmese both rosu 1/3d-United Press.
In S'pore
Singapore, Mar. 22. Prices of rubber futures closed today as follows Number 1 rubber, perib.
April MAY Juno
Apol
April Number
April- Spot rubber, unbaled Blanket crepo No. 1 pale stepe,
** ́ ́ rubber," ".. the Number
Oil Tax Proposal Washington, Mar. 29. State Department officials, and Congressmen gave a cold recep- tion today to a report that the Philippines cocoanit Industry is sending a mission to press for the Number passage of a bill eliminating the cocpanut oll tax. The bill would eliminate the three per cent pro cessing tax on Philippine cocoa- mut oll-United Press,
rubber,
11344-11236 11174-94
1101-111
2003-200
133 -137
United Press,
of
The
Revival
Tokyo, Mar. 23.
Transport Japanese
He also proposed
a unique partnership Investments plan under which Americans and Fortunately, however, there is Minister, Glicht Murakami, 10- foreign businessmen would
a chance that part of this loss day disclosed that Japan would Jointly finance overseas enter-
bo offect might
by diverting prises.
some of our exports to other within three years be able to
handle 50
'per cent of her im- Foreign business opportuni- markets.
00 per cent of ports, including tics are plentiful, he said, but
The oil products. TEXTILE PROBLEM Americans avold, them because
Me Murakami, who was speak- Continuing its analysis, "The ing before the Budget Commis- Economist" points out that theresion, sald that the Japanese Gov Americans are extending only should be little dimculty in dia- ment had decided to build by a few hundred million dollars a posing of the £40 million worth 1055 a total of 250,000 tons of year for foreign development, he of capital goods for, which there freighters and 60,000 tons of
Lankers added, but with proper incon-1s a
lively tive the fatul could be closer to markets.
ely demurid $7,000,000,000 annually.
of various restrictions and the threat of nationalisation.
in other
Japan at present has 273 If the Canadian market could seagoing cargo ships, represent He concluded; "Undor the be reopened and a successful ing 1,500,000 tons, and 33 font- partnership plan I am suggest drive launched to expand excru totalling 340,000 tons.
Japanese shipping at pto- ing, there would be fewer foreign port to other parts of the world, restrictions, and more protection about £80 million of additional sent tromporta la per cent of for the American, Investor." car exports could be achloved the country's imports-France-
Presse. Unitod Press
this year.
Exchange Rates
Business was dona' In the locat unomcial exchange market morning at the following rales U.S. dollar (per 1) Sterling Koty (per, Cij Indonesia guilders fner. 160) | Slam licala (per 100)
Singapore (Stralis)
Fid plastres (per 100)
this
15.84 3,01
30.50
1.022
15.25
York Building,
Tel. 34165 & 38710.
PATTISON ORIENT LINE
LIMITED
S.S. "LAURE PATTISON"
Due From:
Japan,
Mar 30th..
12-14 Queen's Road, Central.
Sails For:
DIRECT Pasah & Jajan, Apr. 4th.
Tel. 25846.
CHINESE AGENTS:
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Apr 14, Apr. 17.
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For full portioniare cali United States Lines Co., General Agents, Queen's Building, Tel: 28188: