THE CHINA MAIL, MONDAY, APRIL 7, 1952.
Page. 9.
MESSAGERIES MARITIMES MATTER OF CONFIDENCE ROYAL INTErocean Lines
M
"MAPLE HILL"
"LAKE MICHIGAN"
Arriving Leaving
Apr. »
.. Apr. 24 Apr. 29
1ZELIDJA"
Tu Port
"LA MARSEILLAISE"
Apr.
+"BEAUVAIS"
May
JL
H
Apr. 7
Apr. 12 May
9
M
Outward For
Japan
Homeward For
N. Africa » Europa Marselliès via Maasim
N. Africa & Europe
† freight for Saigon, Alexandria, Tunis, Genori, Marseilles, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all. Mediterranean ports vin Manila,
Bubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong
Queen's Building (gr. floor) Tel. 26651 (3 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS-ANGELES AND-PANAMA..
M.S.
M.S.
NEXT SAILINGS
"NICOLINE MAERSK"
"SALLY MAERSK"
M.S. "LEXA MAERSK"
ARRIVALS
Apr. 16
May. 2 May 16
FROM
U.S.A.
M.S. LEXA MAERSK"
M.S. "LAURA MAERSK"
M.S. "LEISE MAERSK"
Improvement In Gold & Dollar Reserves
Japanese Desire
To Trade With
Red China
Singapore. Apr. 6. Japanese businessmen want "to re-estabilah irade iles with, Red China, bat are hoping to be able to do It without rousing American ire, according to a Japanese journalist,
Rene-Georges Inahaki, en route to Montevideo, Uruguay, to work as cor- respondent for the Kyodo -News Agency and Jiji Press, at fit Singapore that Japanese businessmen, how- ever, would do nothing to hinder the Japanese peace trealy,
He claimed that Japanese far roods today were superior to those of pro- because they Wat
were subject to rield tests before they left Japan, --' Asso- · clated Press.
A Genuine Achievement To
The
Chancellor's Credit
(FROM OUR OWN CORRESPONDENT)
London, Apr. 6.
The improvement in the Sterling Area's gold and dollar position during the first quarter of this year seems to have resulted almost én- tirely from a revival of confidence in Sterling following Mr Butler's Budget.
This impression is borne out by the fact that the gold and dollar loss in March. was much smaller than in the preceding two months-$71 million against $299 million in January and $266 million in February.
This improvement took place, moreover, in the last 20 days of March during which time the behaviour of the foreign exchange markets demonstrated in dramatie. fashion the efficacy of the bank rate as a weapon against | speculators in Sterling.
A
While the sudden improvement creating
the
in
Our
HONGKONG
SHARE MARKET
(From Our Correspondent)
SAILINOR
Apr. Apr. Sim
#EASTWAT? "VAN HKUTAT!" VETRAAT SOUNDA" APr.
"TJODAS"
STARMAN" **TASMAN" "THWANGI"
*TJIPONDOK”
MAKASSAR"
singapore, Dakaria & fefawmi tiell, Singapore"&" Mast AfriEX
Manlik, Bingapure, Aunka 1, ...
Marques à 8. Afplea Djakarta, Tjirebon,
Burabata & IRANJAT
Japan
NAKUTANE,
Singapore. l'exiang & Belawan Daily Bingapore.
Burahsiam incar
Sinarancs
Djakarta, Tiirebon, firtaarangi
Surabala di Maciuit
Maulla, stagepote, Maheitluses. Vielea.
Japan
Jaran
8. America
Hingapore, DjAkita, brindars
Apr. 11th
Apr. 2111
apr.
Serti
May
ΕΠΑ
May
74]
"KTRAAT
May
**EASTWAT"
May 1
~TKGELDENG"
ALAY
1300
"TJILUWAD"
May
16th
May 22nd
“TASMAN”.
"TJIRAMPER"
MAN A
Juno
June 115
June 131
June 16th
Japan 24.
3711
Djakarta,
2nd
Singapore,
-RUYS"
*THWANGE
"TEGELUKUG"
"TAMODAS"
"PJILUWARE"
"TJPANAŠ“ »TJIWANGI
"VAN HEUTRZ" "TJIPANAS"
"TJIPONDOK"
"RUYS"
"TINOWAN"
June 11th July 2nd
July ach July
શ
July KIR July th duly 10th
Mürabjle, &” Mincaviar
Japan
Treban. SMALLCADE,
Suchala Marassar.
1jakarta, Semarang.
Surabala de Macandar
Manks,
Kingapore,
Mode
S. Africa de S. Amorrica jehere,
Tjireboti.
Sarubala & Marayar
Singapore,
Dakarta,
Bitabala & Macassar
Japan
Sofurang,
singapore, tijalaria, Remztabi,
Nurabala AlensSE
Japan
Manilla, Singapore, Perang,
E. & 6. Aftles
A
bjakarta, Thieben, SERANS+
Burabala & Makassar
Mantia, Singapoje, Matinumus, S. Aclea
8. America
Singapore, #jakar
Surabala & Massar
From
Penang, felawan Dell, Palembang,
Diskurta Slugapore
Kurabalo,
Maraar.
Djakatia & Singapar
Kenarang.
ARRIVALS
"TASMAN"
“TJLUWAIT"
Apr. 10th
Apr. 13th
external
Business done on the Stock | "THWANGP". Exchange during this morning's session amounted L $404,8u. Noon quotations and the morn- ing's transactions:--
"EASTWAY"
Apr. 280
May .:WiFi
Singapore,
Surabala & Magassar Djakarta, Belawan Bell & slaapors
right economle in the gold and dollar position climate for a more tasting, Im-
welcome provement has been wholly development, too much stress position. cannot be laid on the psychölögi- cal factors which lie behind it.
WILL IT CONTINUE? The question now whether
For this was an improvement the recovery which took place in SHARES BUYERS SELLERS SALES
Distribution Of besed almost entirely on semi-March will continue during the BANKS
Sugar In U.S.
Washington, Apr, 0. Sugar distribution in the con- tinental United States during the week ending March 20, con- tinued ahood of last year's figures during the same period, Agriculture Department statis- ties showed today.
+35
Jakarta. Krinarang.
General Agents,
HOLLAND EAST ASIA LINE
HK Bank
1370 1300
731985
SAILINGS TO EUROPE
East An
INSURANCES
Canton Union
· 140
RENDSKERCİN
"KIELDRECHT"
May
'AAUTEREYK"
June
7th
*55
«ЦЕЛТАД
July
7th
730
Underwriters 4.70
4 G
50
735
SAILING FROM EUROPE
Balin -Rotterdam
Arrives Hongkbag
"KIELDRECOT"
Salled Mar,
5th
Apr.
"AAGTEKENH”
Apr,
5th
102 May Toch
Astu Nav.
1.70 1.15 on a
$10 910
1.70 BLITAR"
May
2nd
June 7th
May 24th
July
4th
July
01
2nd
Aug.
speculative movements. The present and subsequent quarters, } relief-ealag in this way, wel- Mr Butler, in his come as it is, must be regarded the gold with caution; s "The Times" stressed the effect that
had hod points aut, "It depends entirely non-recurring receipts
These, he figures. on confidence, which is a sensi- on the March
estimated, amounted to no less tive and delicate thing, and it could disappear in a moment than $75 million. They included
the confidence fai
failed."
to the United SHIPPING special sale
Africa there is no cause Kingdom of gold But, although
by South do $28 million; for self-congratulation, the fact
received under the Katz- DOCKS, ETC. of gold and Apr.
that the outdow 18
(covering dollars in March was
agreement down to Apr. 28
less
Di than ane-third
the the reimbursement to the United May 13
week The Jast
of March February Agure marks real Kingdom of gold losses incurred showed a distribution of 189.789 achievement and credit for this from the use of existing Sterling balances _by_other members of short tons, with the year's total must go to Mr Butler
Union, 1,889,013. During the corres- Crude though it undoubtedly the European Payments Un
535 million from speciat ponding week in 1951, It show-is, the manipulation of the bank and
of rubber, tin proved 10 ed 117,389 tons with the year's rate
and lead to United States under the total of 1,715,075,-United Press. tremendously powerful factor in
recent inter-governmental com- modity agreements.
For Freight and Further Particulars please apply to:-
AGENTS:
& CO.
JEBBSEN
Pedder Building.
PENINSULAR
QUIS NOS SEPARABIT
Tel: Nos. 36066-9.
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.Ş. "CANTON”
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 11th April at 5.00 p.m. for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.
ALL passengers baggage must be sent to the longkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE BY NOON on THURSDAY, the 10th April, 1952,
SPECIAL NOTE: With the exception of hand packages curried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only. Will take place on Friday the 11th April between 2.30 p.m. and 4.00
EMBARKATION:
p.m.
PATTISON ORIENT LINE
$.5.
LIMITED
"LAURE PATTISON"
Due From:
Japan,
In Port.
Sails For: DIRECT Pagan & Jupan, Apr. 8th.
5.S, “ADELANTO”
Loading From: Apr. 7th.
Sails For:
DIRECT Pusan Apr. 15th.
12-14 Queen's Road, Central.
Tel. 25346.
CHINESE AGENTS:
hus
bc a
sales
the
Cotton Industry
Wants Purchase Tax Abolished
(FROM OUR OWN CORRESPONDENT)
London, Apr. 6,
A deputation from the cotton and rayon in- dustries has called on the Government to abolish the purchase tax and the D-Scheme as they affect cotton and rayon goods.
These receipts are all non- recurring in character though some part of them-for example, through payments for special commodity sales-will continue to benefit the reserves for sume
months
GROUND FOR HOPE
On the other hand, the United
K. Whart XD M. P. Wharf 6.40 8.60 Dock
18.00 Provident XD Wheelock ... 45% 40%
100 48
LAND, ETC.
HK Hotel XD 1.20
7.26
1400 30
FIK Lar
10) XD
44
11
12 XD
(B) rom. (Ris) nom #prey
UTILITETS
Tram XD
·
15
1600 15.20
100
P. Tram (0) 2435 P. Trum (N) 14% Star Ferry XD
C. Light (0) 8.15 8.25 3300 120
C. Light (N)
Electric X
201
SOU w 8,13
700 40 20,24 Tele lione .. 151 10 1000 1
Kingdom muk CommonwealthINDUSTRIALS
import restrictions, have not yet had their full effect and these can be counted on to play an
Increasingly important part in reducing the loss of gold and dollars.
American ald, which hardly affected the first quarter's figures, should bring further improve-
the
All
all there seems
level of American buying of peltes
ment in the present quarter. reasonable grand to hope the improvement will continue A good deal all! depends on the
the Sterling commodities, The D-Scheme (this is the name given to the of which have recently tended scheme proposed by the Douglas Committee) was to drop, and also on the degree introduced in the Budget to take the place of the efforts made by the Common- old utility scheme of which the textile manufac-wealth
bring their own payments into turers themselves were among the strongest op-balance with the rest ponents.
of success which attends the
to countries
Sterling
10%
Cement XD 13.20 13.00 Hope XD STORES, ETC.
Dalry XD .. 152 1913 1600 15.90
Crawford 14
Walion
COTTONS
Wo
2003 1900 +
MISCELLANEOUS
Yangtze 5.40
2.30
1000 5.40 37,000 * 5.49
Grain Prices In Chicago
the market
of
ensed
Wheat futures closed to cans a bushel lower, co was ingher to lower, oats 1 higher la 4 lower, rye higher tougher and soybeans
Chicago, Apr. 3.
mostly of the Grain futurez wore world.
steady with little change from
closings, Much But a lasting recovery must be Friday's Under the utility scheme an The purchase tax provides based on more solid foundations. Saturday's demand appeared to
in of the whole. the long run confidence in be week-end evening up pending ever-widening range of textile nearly one-tenth goods were.
freed from the tax income of the country and to Sterling can only be maintained developments over Sunday, Near ff our trading purchase tax and this was be- abolish It altogether would not
position shows the close,
off. lieved to have had a bad effect only deprive the Government of real signs of improvement. And on Britain's textile exports.
矗 A powerful
means of checking that is one of the least certain also factors of our present situation, The argument was that the consumption but would incidence of the purchase tax necessitate a rise in other forms on non-utility goods discouraged of taxation to offset the loss of
market and revenue. sales in the home therefore ingreaded the risks The Government will also have involved in the production of tu consider the effect that re-
goods for export better-quality
moval of the purchase tax from manufacturers
claimed cotton and rayon goods would that concentration of home de have on the longer-term problems mand on utility: goods deprived of the textile trade. them of a "testing ground"
" for
THE EFFECT export lines and an aliemative outlet for "frustrated" exp
exports.
Immediate effect of an aboll- The D-Scheme was intended
of tion
this
would fax
The
to meet this argument but instead
Weekly Bank.higher to 1 tower.
Statement
Paris, Apr. 0. The Bank of France state- ment for the week ending Maren 27 rends as fllows:- Total gold holl ngs.. Total of other Cit
reueles
Whent-price per bushel:
Spot
May
2.01 nominal 2.405-16
July September December
2.4044-14
2.41% 2.45
Согд
Trs.
101,446,078 020
Spot
3.652,043.201
May
the
Sign balance surund Advance to entrenes
stabilisation Bits discounted
11,131.877.:140
870,449,084,351
September Docenber
1.84 nominai 1.8776-1.83 10412-6 1.80 1.77%
it appears to have intensifled it, undoubtedly be to start supplies
moving again. all Under this scheme
goods wlume wholesale price falls uncertainty
this has the desired
Frence and stiroad Natès in eirculatini » 1,801,001,422.729 Current account and
With removed monly below a certain level are free of people who have been waiting tax while those above the so- for prices to reach bottom before 80 buying would replenish their called D-line are subject to
deposits stocks and this would case tho purchase tax.
immediate situation. While
But what would happen when. effect of smoothing out dif- that phase had passed? Sooner ferences, in price between tax or later supply would again the outstrip demand and the funds-
problem of Over makes matters production would reappear. The D-line has industry would have gained a brief respite, consumers would have had the benefit of cheap, supplies and the only loser would be the Exchequer.
free and taxed goods, textile manufacturers believe
present scheme
worse because the been set too low.
mental
ABOLITION WANTED Faced with a serious recession in trade they have now demanded
It is unlikely, therefore, that complete abolition of the the Government will fall in with
مزاده ل
204,572,058.860 United Pren
Stor
1.03
Italy
1.06-1.05
Oats
Rubber Futures In S'pore
Singapore, Apr. 5, Prices of rubber Kutures closed today as follows:- Number 1 rubber, per lb.
May June July
10014-210 108(4-14
purchase tax on coffon and rayon the Industry's request for Number rubber, May 107-166 goods in the hope. that lower
abolition
the Number 3 rubbar, May, 104-105 complete
of prieca in the shop will revive the purchase tax though It might Number rubber May, 00-101
Spot rubber, unblad demand that has been so offer some reile! by raising the Blanket / en conspicuously absent in recent D-line on textiles and thus free No. 1 pal, crepe imonths.
п wider range of there goods The Government is therefore from indirect taxation. faced with a difficult problem. - If Some action of this sort is
the purchase tax on, clearly required
130-135
United Press.)
Mny
8416 July
0112-15 New Yarit hourper 200 15, Sack. #12.30.United Prem
"HOOGKERK” HARENDSKERK“
BENTLINE
FAST SERVICE TO UNITED KINGDOM AND CONTINENT
BY
S.S. "BENCRUACHAN"
Loading Hongkong 14th and 15th April
DIRECT FOR SINGAPORE
THENCE
HAVRE, LONDON AND HAMBURG.
W.R. LOXLEY & CO., (CHINA) LTD.
York Building.
Tel. 34165 & 88710.
M.V. "LA MARSEILLAISE"
will sail for
MARSEILLES
vin
MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, & PORT SAID SUEZ
on.
Saturday, the 12th April, at 10 P.M.
Passengers are requested to board the vessel with their cabin baggage on the 12th April between 5 P.M. and 9 P.M.
Baggage Room and Hold Baggage will be registered ut Kowloon Godown No. 50 (No. 2 Gate Canton Road, Entrance) on the 11th April between 2 PM, and 5 P.M. and 12th April from 9.A.M. to NOON. '
No baggage will be registered after this time. Compagnie Des Messageries Maritimes
Queen's Building..
Tel: 26651,
Pacific For East Live, Jive
nuect
•
OVEILLAND NEW YORK-CHICAGO-DETROIT-TOMONTO MONTREAL AND ALL AMERY FAN
Fast Regular Trans-Pacific Service. SAN FRANCISCO, LOS ANGELES
Guam, Marious Islands, Micronesian Talands
these goods the Exchequer stands the textile industry breathing Exchange Rates LLA LUCKENBACH-
CANADIAN CITIES
· Regulat ̧” Service direct or will transhipment.
con
Artiris
Eatla
Straita
Apr. D
Apr.
D
Ban Francisco
Straits
*Apr. Apr. 10
17.
Apr 20.
Apr. 30-
Ver
Ban Francisco Los Angeles
*** via Kobu & Nagoya
Gingapore, Tchang & Pat
Swettenham
Busbwa was done in 2001. LUCKENBACKP
officiat excherige market morning: at-rise following, trieg:-..
doller (per #1)
NBAÇU” stenting notepar 41) 11636,"P. J. LU Indonesia guilders (per 100) Dern ticala (per 100)
2000 re-singapors (štrpita)
1.24 For "fall particulars' call United States Lines Co., General Agents, Queen's Huilding, Tel: 28106,
to lose about £80 million a space in. which to prepare itself year. Even If that loss could be for the stern, fast which awaits absorbed what guarantee have it in the wider field of world
trade. of also auffering froni
Any rate, the dovernment consumer resistance, will not be have been given the opportunity encouraged to demand similar to review their whole policy treatment?
garding the purchase tax.
OVERSEA CHINESE STEAMSHIP CO., LTD. they ich ane digo quaterias try GAL:
48, Bonham, Strand, West, Telg. 26127, 31118 & 81119,
|_ WIC)"plastewa (per 100)
San Francisco & Los Angeles'
Via Kobe