THE CHINA MAIL, THURSDAY, MARCH 27, 1952.
MESSAGERIES MARITIMES BRITAIN'S CAR INDUSTRY
M
“LA MARSEILLAISE" "MAPLE HILL"
"JEAN DUPUIS"
"ZELIDJA"
"BEAUVAIS"
Arrivfur Eraving
Mar. 31
Apr.
A
Mar. 28
apr.
*
A MARSEILLAISE” Apr. 11
May 1
Apr. 1
M
Outward For
Yokohama & Kobe
Homeward For Mar.20 Haiphong & Balten
N. Africa & Europe Apr Apr-12 Marseilles via-Manila-
2 N. Atries & Europa May
freight for Suigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Bubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong
Queen's Building (gr. floor) Tel. 26651 (3 lines).
m.v. "LA MARSEILLAISE"
10 days Roundtrip to JAPAN
Sailing from, Hongkong
―
1st April, 8 p.m.
to Yokohama and Kobe
PI
Slashes Imports
Manila, Mar, 26. The Central Bank has allocated only US$180,000. 000 for imports in the first six months of 1952. US$305,000,000 leas or about 70 per cent of the amount made available for the torresponding petlod
fast year.
No mediate explana- tion
was made for the Blash althougli speculation. indicated that the redtic- tion was due to dwindling Philippine dollar reserves,
Ex-
It was further speculated that the Philippines pects less dollar receipts this year due to the con" in prices of tinuing drop major. Philippine exports,
France-Presse.
NEW YORK
FOREIGN EXCHANGES
Canada'
11th April, 6 p.m. England-livi
Arriving from Japan
-
Roundtrip Fares
1st Class. — HK$910 to HK$1,160
Tourist
Excursions in Japan arranged on application.
Belgium
US$1.00-1/15
RECEIVES TWO
SEVERE BLOWS
London, Mar. 17.
In just one week, the British motor industry has been deait two crippling blows. The first was delivered by the Chancellor of the Ex- chequer, Mr Butler, when he raised the fuel tax another-71⁄2d in his Budget.
Then, from Australia, came the crisis decision to slash imports which means, more, than anything else trom Britain's point of view, a grave check to the rich flow of her motor products there.
n
Cumulative effect of these New Zealand, last year, took 58,000 cais and almost 10,000 two measures is expected to
commercial vehicles, worth be little short of disastrous total of £20 million, but is unt to the industry. At best, expertent to reach that figure in manufacturers hope to be 1952. South Africa, which pairi able to step up exports to Britain £16 million for 24- 000 cars and 5,000 other vehirlez, other oversens markets →→
promises to remain a good sell- but prospects are not good.ng area-but there is not much At worst, production will room for expansion.
have to be cut and diverted The Canadian market, how-
HONGKONG
SHARE MARKET
(From Our Correspondent)
where possible to defence!
ever; is reported to be brighten- work, causing a loss of over-ing again after a recession six seas earning and further en- months ago.
The Stock Business done on Imports slumped
this morning way dangering the
an order country's following
that hire Exchange
Noon at $558,700.70. purchase agreements should be valued
and limited
the morningʻk. 12 months. These quotations
transactions→→ now been ex- agreements have
economy.
10
The industry's reaction to the rise in fuel tax is one of dismay, tended to 18 months and as a New York, Mar. 24.
11 has long been fighting against result sales are increasing.
to Canada Exports
in 1951 rising production costs and now Ands itself confronted with still totalled 27,000 cars and 3,000 which greater burdens.
commercial vehicles
"
280-3718 2.30 hid/- 2.10 paked 2,001 2:703
Manufacturers, tre' complains
are £14,153,206,
In the United States, the low-19,803 care #ures were
728 other vehicles netted only £8,555,84).
ing that the fuel tax is essentially a tax
on the great transport
on which industry de- and System 0028-0/10 pends and that the latest in- crease in duty will again rebound harthly on the motor industry in particular.
rise and
every
Prices will price increase, they say, weighs
scales
against manufacturers in their struggle to sustain ex- ports. Export prices must be kept within reason and the in- dustry felt it had almost reached its
limit even before Mr Butler announced his Budget.
nometal
30-day futures
90-day, futures
Australia
2.24
New Zealand
2.00
South Africa
2.813
0103
Denmark
1455
France
HK$600 to HK$ 640
West Germany
4.20
Holland
2638
italy
Norway
1408
Burlugi
7370
Spain
$265
Sweden
Switzerland
2297
the
MIDDLE EAST
20814
Iran
03125
Ira
2.81
Turkey
5375
LATIN AMERICA
Argentina
,0725
Brazil
0500
Tel: 26651
Bolivia
Chtic
.ALLS
Colombia
4025
1.00
1155
.0058
Uruguay
7950
Venezuela
005
FAR EAST
India
2100
Pakistan
2030
itongkong Indonesia Singapore Japan
.1750
3015
3200
COMPAGNIE DES MESSAGERIES
Queen's Building.
MARITIMES
On Car
Ceilings On
Production In US May Be Removed
Washington, Mar. 26.
The Government today authorised the motor car industry to turn out 1,950,000 cars during the third quarter this year and hinted that all car pro- duction ceilings may be removed.
The Defence Production Administrator, Mr Man- ley Fleischmann, said the shortage of critical materials eased enough to increase output of cars, refrigerators, television sets and other civilian goods during July, August and September.
Moscow
Economic Conference
welcome Moscow
Robert
Cuha
Mexten
Petu
360 yen to US$1
-United Press.
Grain Prices
In Chicago
Chicago Mar, 28. Buicus of grain futures closed today as follows:
2444-2.44
2.472
Wheat price per bushel
Spot May July
3.52 nominal 4.59 2.49-7
2.4234-%
Sepicober
December
At the same time, the Federal Reserve Board removed the 10 per cent
Corn
Spot
1.873%
Bay
3.0545-14
down payment
re-
quired for hame repairs Improvements.
and
July September December
1.17-1.87-12
1.84- 1.755
Itye
"Regulation
payment still
W." must be
full
May
2.0114-15
July
1.
made
within 30 months.
Oats
まいぷ
2532-34
Under the change in the so- enlled
believe The Board did not that dropping of the payment requirement will have any for siglacant effect on credit home repairs.
Moscow, Mar, 28. The secretary-general of the the for committee economic conference, Car production will be held told the to about 1,000,000 cars in April, Chambeiron,' Press today that at least 300 May and June, persons would represent West-But during the next
coming months, the industry will ern countries at the
allocated enough materials conference.
1,050,000 units,
Meanwhile the secretariat of the Chinese
delegation
arrive here
Lomorrow.
will The
Chinese dolegation will bring
MILITARY NEEDS
three be
for
By stretching these supplies
more than two tons of samples and dipping, Into inventarles, it
China is
1,150,000 can turn out at last ents, Mr Fleischmann said,
The possibility of permitting is unlimited car praduction who French, also declared "We are being reserved.
of products which
able to export.
M. Chambetron,
certain of the success
The milltary
of
the
WAS
programme in
conference." He claimed that the third quarter will require it would be non-political-no more and perhaps little less France-Presse.
FROM INDONESIA
Djakarta, Mar. 28.
A delegation of private bual- nessmen led by the Chairman
Indonesian of the
Economic Council, Suchjar Todjaksukman, lett today for Moscow to attend the world economla conference, due to open there on April 3.
metot than it did
in
tio
second quarter of 1952.
flve His report came only days after the Senate Prepared- the Committee accused
officials nation's mobilisation
negg
of neglecting defence production to give civilians more goods, - United Press.
BRIGHT OUTLOOK
To
of
has
eap it, Australia, whose balance
payments disastrously months,
plummeted
the Jast. six nounced
drastic
While looking to these two countries for increased sales, British manufacturers are con- fronted with another problem which is a direct result of high fuel costs.
BHARES DUYERS SELLERS HALES
BANKS
IK Bank
.. 1440 1460 East Asia... 141
INSURANCES
720 GBA Underwriters 4.70 610 SHIPPING
30
15 1460
1447
ROYAL INTEROC
"TIKÄMTKI"
"STRAAT
MAKASSAN" PTJIWANGI"
"VAN BEUTAZ” PLANTWAY
"TASMAN"!
TEROCEAN LINES
BAILINGB
Mar, 27th
Apr. 2nd
Apr. 2nd
,5 pr.
Ver. ath Apr. BLN
MILLI
Apr. Sath
Apr.
16th
"STRAAT BOENDA" ADr.
"TIBODAB”
STIHLUWAM"
"TASMAN"
TSIWANGI.
"TJIPONDOK"
"STRAAT
MAKASSAR” "TEGELRERO”. "TILUWAR"
"TJIKAMPER"
"ROYS" “TJWANGI"
"TROELBERO"
THIBODAS"
“THLUWA{"
"TJIWANO" TJIPANAS"
"RUYS"
"STRAAT
MAKASSAD"
Apr. 28th -ALAY 2nd.
DIRHATIA
To
Titebon, Semarang, Surabnia"A" Muensiny
Japan
+
Singapore. Djakarta. SEBAYARK.
Buraħala & Mincansar Singapure 4. East Africa
singapuro, Jakarta & Betawan Bell
Apati
Mantia, Shirabute, & B. Aftlex
Jakarta, Tilrebon, BOATLES,
Surabala & Stacjent
Singapore, Djakarta,
Semarang,
Bürabala & Machasar Singapore, Penang & Belawan Dall Singapore, Djakarta,..... -Komarang.-
"Buradata &” NIMEMIKAT
Djakarta,
Tirebon,
Surabala di Marasser.
REMATANG,
Mintila, Singapore, Mauritius, 8. Atrlen
AN, Aüerica
singapore.
Ujakarta,
May 8th
May DIN
May 131b lay 14Ja
May 27th
Stay th $110 2nd
Japan
Semarays,
Seabala & Macar
Semarang,
Seniutang,
June th
Jutto s
Julze Jech
*July, 2nd
July 4th
July เต
Djakarta, 'Tirebo
Kurabala & Machisar.
Japan Hingapore
Jakarta.
Surabala a Marassar
Mobile,
Singapore, Mauritius,
3. Alles &. America
inkarta,
Tjirebon,
Surabata & Massar
Singapore,
Djakarta,
Burabala & MachinaT
Hematang,
Semaran
Singapore, Djakatta, Semarang,
Húrabain & Alaedavar
Manike, Angapore,
E. 8. Afries
Penang;
Manila, Singapore, Maurliius, 8, Africa
&B, America
AREIVALS
Mar. 28th
"TJIWANGI"
"TASMAN"
*THLUWAK"
Mar, 20th
Apr. 7th
13th Apr.
From
5. America. S. Africa, Mans,
Nbigapore & Manila Macassar, Surabala. Semarang,
Jejakarta & Singapore
Penang, Belawan Dell,
Djakaria & Singapore Macatuar, Surabala,
Djakatia & Singapore
General Agents,
HOLLAND EAST ASIA LINE
Palembang,
Чепикапт
SAILINGS TO EUROPE
"ARENDSKERK"
Apr.
5th
"KIELDRECOT"
May
Bih
"AAGTEKEEK"
Juma
7th
"ILITAR"
Juty
7th
SAILING FROM EUROPE
0034 0.00
"KIELDRECHT“
Balled Mar.
320 10
"AAGTEKENK"
Apr.
Salle fatterdam
sub 5th
Arriven Hoogkatk
Apr.
201K
MAY
10th
"BLITAR
Ind MAY
Juno
7th
May
25th
July
4th
July 2nd.
Aug.
7th
Asia Nav... 1.65 1.75 DOCKS, ETC.
K. Wharf XD N. PL. Wharf
Dock
...... 18.60
2700 18.00 Provalent XD 11.00 121% 2300 $19
21004213
42
Wheelock....
the
LAND, ETC,
HK Hotel MD 1.00 7.00 50 S'hal Land ..
7.03
4000
120
150 15.20
1000 18.30
P. Tram (0) Star Ferry XD
20
100
The more petrol costs, more urgent becomes the neerl to economise in its comsump- tion-Design, therefore, of the UTILITIES- high-powered type of engine,
the United which is preferred in Canada States, is beenuse the industry
and
in hampered, the day when the
A
must
Import cuts needs of the home market can which, it is estimated, will chop he more substantially met.
All in all, inost car men feo) British motor vehicle imports
a hard year.— from a record 143,000, worth 1952 will be L65 million in 1951, to between London Express Service, 30,000 d 40,000 this year, And Australia has been by far Brl- fain's best customer.
COMPLICATED SYSTEM-
car
The full extent of the Aus tralia move has yet to be felt ith England. Motor producers have heard only that imports of assembled chassis and bodies will be cut by 80 per
of thase cent and
assembled cars by 40 per cent. Import restriction
be
will based on a complicated system Customs tariffs. of Australian
It may be that
Oil Company
To Stop
Prospecting
The for some types Vacuum
Cairo, Mar. 20, American Socony-
Oli Company has de
to
dismiss
200
of car parts, the new regula-cided to stop prospecting in
Lair Egypt and tions will still leave a market so that the Common-workers engaged in drilling.
own motor industry
This follows Egyptian delay in Wealth's will not be impaired. For there
Australian amending the 1948 mining law, is some hepe that
factories will fight which imposed conditions in oil assembly strongly for an easing of the prospecting which the company restrictions because, without regarded as unworkable, British chassis, they will be hit badly.
The company is also believed Whatever happens, though, to object to the 1943 company any firm which makes an all-law providing that 51 per cent the share capital must be Australian car will score hand-of
market will be held by Egyptians. somely as the virtually wide open to it.
The Anglo-Egyptian crials and of the dissolution
Egyptian delayed the Parliament have amendments to these laws,
July New York flour-per 200 10. Sack.ments $12.45 nominal.-United Press.
Gre
the Aus- Reassurances from
the tralian Government that measures being taken will last 121-13 only till the balance ct pay
position improvės
The small
company's' docision does consolation to British
Aus- not effect the production of oils motor manufacturers. tralia's own crisis is sufficiently from the wells already working. big to make optimism In Bri--Reuter. tain's motor industry little bet-
ANTHRACITE
FOR JAPAN
Tokyo, Mar. 28 Japan will purchase 32,000 tons of South African anthracite coal for future deliveries, trade sources Guld today,
ter than wishful thinking. The fast remains
that Australia faces u 2600 million trade de- fcil for 1951-52 and her finan clat policy must necessarily be severe.
Faced hus, Brilish car nukers are groping for a Bolt-
2
lion.
EXTRA OUTPUT
Japanese gas companies have Leen compelled to seek anthra- cile coal in South Afrlea because French Indo-China has imposed Testrictive measures on its ex-year-and port.
there
The Rubber
Markets
Tram XD .. 15.15
C. Light (0) 0 BS 959 8.40
400 8.48
1.05 260 1000
C. Light (N) Electric XD. 20.30 20.95 100
Telephone 1574
STORES, ETC.
Drary
1000 or 20.40 7125
110.70 2000 N (815
Watson Watson (R.) 1.80
MISCELLANEOUS
Yenglaze ...4.20
32
93
1.80
1000 4.83 1000
4.0
Splurge Of Liquidation In Cotton
New York, Mar, 20. Cotton traders packed prac- tically all the day's netion into the last half hour.
Prices weakened under a splurge of hcdije zelling, and commissioni liquidation house offerings.
The Korean uncertainties, Valong with the imminence of the new crop planting season
lut in the› and the renewed
exides markers, took the edge off buying interest.
01-
The market opened
to 5 points higher. changed Thereafter it secawed over a range of 25 points.
Selling in the last half hour
Into drove the market
with lowest levels
new crop months finishing บ!! bettem,
its
the
The final prices were off 10
to 17 points, not.
Prices closed follows:-
London, Mar, 20.
Spot The rubber futures market May today. Prices closed July.
Assuming other OversCDs was, dull markets remain buoyant this as follows:
been Number 1 rubber, in pence, have
per ib.
33-14 signs of drying up in some-the may industry will and itself geared June
311-33 extra July/September Of the total, 16,000 tors will to produce about 70,000
October/December be imported by the Nippon Nesci vehicles for which there are no January/Merca
Unite-1 Company, 11,000 tons by the buyers, except in the Osalta Gas Company, and 5,000 Kingdom,
However, till she recovers her tons by the Toho Gas Company.
financial strength Britain can- -France-Preme.
not afford to divert the surplus
Res
...... 20% nominal
United PTEKA. SINGAPORE MARKET
Singapore, Mar. 20, Prices of rubber futures closed
to the home market though this today as follows;
heen starved for years. The Number 1 rublar, per lb. sale of cars within the country April
June
New York Sugar after spending dollars for steci
Futures
New York, Mar, 20. World sugar futures closed 8 higher 10.1 lower with sales: totalling 107 contrects.
Contract No. 4 closed changed to 5 higher with sales totalling 514 contracts. Contract No. 4 (world) May
Left-wing labour organisations
IN THE P.I. will also send representatives. The Government has refused to
Washington, Mar, 20. subsidiso a parliamentary dold
Walter Coombs, My
Stato gation because it was considered
Department Labour adviser, that the Moscow conference was who has just returned from a a private undertaking--Reuter,
six-month stay in the Philip- PERON DELEGATION.
pines, today declared that enact ment of new labour lawe would back Buenos Aires, Mar. 20. help put the Philippines
ita An Argentina delegation left on
He had recommended legis-` by air today. to attend the Mas- cow economic conference. It is lation providing for workmen's headed by Falipo Freyre, who compensation, industrial safety July was oppointed by banking, Inconelllation service, and re- dustrial and agricultural groups. gulation of labour unions. -Associated Press,
fect.
Franco-Presse.
מונות
Heptember
and other raw materials used in this production, would only add to the United Kingdom's econo inle predicament.
Two ways are left open to must manufacturers. They either create new markets over- seas and expand existing mar- Or they must cut down anketa.
production. And it is doubtful the factories thus whether affected could be absorbed into 450 bid-457 the defence programme which has already slowed down under économie pressure..
If Britain
to expand the overseas demand for cars, the drive is koly to be directed at Canada and the United States. Demand in other markets is not increasing.
November Houte
Contract No. 6 Hay
6.97
September November
Prezi..
April Number
Appli
today 25
42.15 nominal
37,30
41.54-41.25
40.28-40.30
October December
March (1053) May July
34.00 34.63
United Press.
LONDON TIN MARKET
London, Mar. 20. Prices of tin were steady this morning. Turnover was 70 tans, including 13 tons for cash. Prices closed at the end of the official marming session at follows:-
113!4-16
iii-i3
Number 2 rubber,
111 111
rubber,
100 -100
Number
rubber,
|
April
-་་་ Spol rubber, unbated Blanket grege
104-105 270-31
Business done ai
78
.50
Three-months, tin, buyer
+000 D64
No.
pale crepe
132 -137
-United Priess.
Buziness done at Seitlement
JAPANESE BONDS
London, Mar, 20,
Japanese bonds.
"A" (48. ・ of 1800)
(4 of 1910). “C” (58,- of 1907) D" (s. of 1934) "E" (528, of 1934) Console
Spot.in, buyers ·
Epot tin, sejlet
Three-month ein., relor 0345
05413-003
United Press,
Exchange Rates
Business was done in the focal
"HOOGKERK” "ARENDSKERK"
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & RUILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA, NEXT SAILINGS
*M.S. "PETER MAERSK”
M.S. "NICOLINE MAERSK”
M.S. "SALLY MAERSK"
*
Calling Vancouver.
ARRIVALS FROM U.S.A.
M.S. "OLUF MAERSK"
M.S. "LEXA MAERSK”
M.S.
LAURA MAERSK"
Apr.
2* Apr. 16
May 2
Mar. 30
Apr. 19
Apr. 28
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building.
Tol: Nos. 86086-9.
PATTISON ORIENT LINE
LIMITED
"LAURE PATTISON"
$.5.
Due From:
Japan,
Mar 30th.
12-14 Queen's Road, Control,
Salls For:
DIRECT Pusan & Japan, Apr. 4th.
Tel. 25846,
CHINESE AGENTS:
OVERSEA CHINESE STEAMSHIP CO., LTD.
48, Bonham Strand, West, Tels, 20127, 31118 & 31119,
ESSENTIAL SUPPLY CERTIFICATE DECLARATIONS
+
Forms 3, 4 & 5 as amended
by the
Government of Hong Kong
NOW ON SALE
19undmelal exchange market this SOUTH, CHINA MORNING POST LTD.
1114/morning at the following rates
3.8. dolar(per::$3)|
70% -120 60-5/105am tizala per 100) alted Press.
Sterling note (perića). Indonsela, guilders (per fübj:
Aingapore '(6E715)
WIC pipatres (per 100)
Hong Kong Of Kowloon,
6.72
28.00
These amended forms are now in force.