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MESSAGERIES WAY MARITIMES
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15
May 5 June
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May in
"FELIX ROUSSEL"
...ay 23
3
June
May 20 MAY 24
3
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Outward for
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span
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Genoa,
t. freight for Saigon, Alexandria, Tunis,
Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterranean ports via Munila,
Madagasear by Transhipment in Saigon or Djibouti
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LINES
EVERETT ORIENT LINE
Fast cargo and passengers service refrigeration space amibiernan, China, Philippines, Indo-China. Siam, Malaya and East Coast Indium Ports,
"LENEVERETT"
Arrives April 24 from Manila. " Sails
April 25 for Singapore, Penang, Rangoon and Calcutta.
"REBEVERETT“
Arrives Bails
from Singapore, May 9 May 10 for Japan.
EVERETT STAR LINE.
Fast cargo and refrigeration spaces avallable for Korea, Japan, China, Philippines, Indo- Chinn, Sium, Malaya, Ceylon, West Coast Indian and Persian Gulf Ports,
FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR ALCYONE"
THE CHINA - MAIL, FRIDAY, APRIL 18, 1952.
EGYPTIANS FACE GRAVE
ECONOMIC CRISIS
Cabinet Working On New Policy
"To Save Cotton Market”.
Cairo, Apr. 17.
The Egyptian - Government is working on a new cotton expert policy to "save the cotton market and the nation's
economy from serious disruption," Finance Minister Zaky
Abdel Mutaal Bey announced here tonight. ·
HONGKONG SHARE MARKET
(From Our Correspondent)
Conditions were ensler on the Hongkong Stock Exchange this morning, with few transactions. The total up to noon was valued at $110,614.60. Noon quotations
were:
SHARKS BUYERS SELLERS BALES
BANKS
..
RK DAR Kit An .. -140 IN: URANCES
SINI-LING
A-ta Nas
BUCKS, ETC.
K. Waart XD N. 1 Whart Uock
1203
1305
10 @ 245
1.65 170 500 1.13
200 33
700 20
45
45
8te 1.fo
41
171 HUJ cvident XD Whinne
LAND, ETC.***
BR . XD GE Led() to
Shal 3nd 1.35 1.45 UTILITIES
מא
C. Light
(01 XÐ
LES. Tek-phone XD STORES, ETC.
כי::: 41
W03 Ris! Crawford COTTONS
Ewo
Mutaal Bey disclosed this when announcing a
big new export drive coupled with an austerity
drive at home.
Declaring he would shortly announce the new cotton export policy, he said the Government was considering trade arrangements with European and American countries for the barter of Egyptian cotton against wheat, sugar, edible oils and other hasic commoditics badly needed in this country.
Cotton is the life blood of the, to be sold abroad within the
accounting next three to four months, EKyptian economy,
for about four-fifths of all ex- ports, Britain hus for yours be the biggest buyer but since the flare up of the Anglo-Egyptian Treaty crisis last October, there has been a large increase in cotton stocks in the country.
Muinal Bey tenight an- "neunted the abolition of the system of licences or quotas on
10
Union Insurance
- Dividend
• The ordinary yearly meeting of shareholders of the. ·Union Insprance Boclety of Canton will be held on May 22,
the
Subject to audit Directors will recommend payment of s dividend of 21.17.6 (thirty - zeven Fillings and sixpence) per share,
Chicago Grain
Futures
Royal Interocean Lives
SAILINGS
“TJLUWAN"; "TASKLAN" "TJIWANG1"
*TUTONDOK"
May
May Bi
#iti May
Roth Aps
May Ind
Fud
7th
"TENELDERO"
STRAAT
MAKASSAR" "EASTWAY "TJELUWAR*
~RUY" "TASMAN" STJIKAMPER" "TUWANGI
"TJIPANAS" "TEGELBERO" "TIBODAS"
TULUWAB“
"JIWANGU
"TUTJALENGKA“ "VAN HEUTSZ" "TUPANAN”
“TUPONDOK"
"QUYS"
MAY 20th
Singapore,
Ta
Tavaria,
Surabals & Stucasing
Singapor. Penang & tilawan Doll
Jakar
Jupars
Djakarta,
Tfirebon. raban” Macauer
Tamaran.
Semarang.
Sonatas,
{ Manila, Singapore, Mauritius, 8. Africa
#America JANAT
Singapore, Diskarta,
Hurmbalą & Mucusoar
Japan
- Tijjrbon, Buradala & finenssar,
Bürsbála & Macariar
#
Aemarang
Semarang,
Jakarta, Nemarang,
Mauritius
Hensarang,
Semarang,
Bematons,
singapore,
H. Aftien &. America
Djakarta,
Tjirebon,
Surabala di", StucanAT
Djakarta,
Surabala Macassar
Jakarta,
Búrábala & Macanar
Japan Арап
Atanita, Ringspars, Penang, &
E. 8. Africa
Djakarta, Tilrabon. Semarang.
Hurabala & Maraisat
May ZIM 241 May May 27th
Japen
Jakarta,
Jume 2nd
JUBB 41 June $
Jun 13th
June 1AU
Singapore,
Japan
Alanile,
Singapore,
July 2nd
July
Singappie.
Cth
July 110
July. BLED
July Bit
July, 9th
"VAN HEUTEZ"
July 10th
Japan
"STRAAT SOZNDA" July th
Japan
2.4076-2.47
-TJLUWAIT."
July
1622
2.3876-1
2.377%
"BOISSEVAIN"
July 28th
2.4114
1.8311⁄2 namigal
May July
1.829-4
1.8412-
September
1.703-
December
1.71%
Byo May
2.0012
1.972-
May July
6342-14
New York four-per 200 h. Back.
Chicago, Apr. 17. Prices of grain futures closed today as follows:
Wheat-price per bushel
Spat
July
May
September
Dreenyer
Corti
7.40 nominal
The Egyptian Government has declared that it will stop | July” in ns an
unlimited buyer avert a slump. But the opern- lon would involve the expen- diture of C80,000,000 and the $13.00 nominal-United Press, Treasury is depleted as a result of widespread corruption and maladministration
Egypt 18 essentially an agri-
exports of a wide range of cultural country. Her economy
Egyptian-produced goods.
"These include cotton products,
and
woollen medical
cotton
woollen blankets. cloth and tos 7 artificial slik eloth, cheap ex- glass- tiles, wrapping paper,
and ware mozaics, matelies plastic goods.
10.40 863.20
2105 1500 m 8.63
ויכי
Muldal
Bry
denied reports
that foreign companies operai- 939 21.50 ing in Egypt were not allowed
11.50 15.20 200 14.90
17.10.10017 20
1500 to 17
410 F
2.15
ETE
2.70
New York Sugar Futures
New York, Apr. 17. World sugar futures closed today one to higher with salte totalling 30 contracts,
Contract 20 6 close today two to I higher with sales totalling 368 contracts.
Prices closed today as follows:
Contract No. 4 (world)
427 4.30 bld
Loading April 24
Sailing April 25
for Singapore, Madras, Colombo, Bombay, Kara- Gulf Persian chị & Parts.
Moy July
September
4.20 bid
November
4.24
Spot
4.28
Contract No. 6
May
5.90
July
3.94
Séptember
3,00
November
6.00
Бро
$578
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206, Chinese Department: Telephone 28293.
OFFICES AT
TOKYO-YOKOHAMA-KOBE-OSAKA
SEOUL-PUSAN
Exchange
United Press.
to transfer profis to their head offices abroad.
The
encornment...
is based on one crop-cotton, the finest in the world. Twenty million Egyptians depend on King Cotion for a fat or a thin
year.
New York Stock Exchange
New York, Apr. 17. Proft-taking in oils and rails and some other specialities plue concern over the domestic and MARKET PARALYSED
caused some The Alexandriu
Cotton Fa foreign situation
declines for the fourth tharp which regulates | ** tures Market,
The total
the disposal of the cotton crop, straight loss of market
by local and foreign factolysed values in this week was nearly
Volume to 1,020,000 shares.
picked
2
Oils The existing disincation is the $3,000,000,000, cumulative
event: up result
dropped 1 to generally, while which were largely provoked
points. -Rail.
ufted
by the
4
point.
he said, "by every was
the investment
were about means"
Government's former superior all fell 10-
market
to 22 foreign capital in Egypt.
manipulation
since the early Chemicals dropped up
Οι measure 10m Another economy
issues traded, 197 announced by the Minister cuts summer of 1050, when ectton Steels and motors cased,
of allowance Egyptians still enjoyed the post-war boom, 1,165
Prices, inflated out of proportion advanced, 702 declined and 266 holidaying abroad. He said they
not be allowed to take to world markel demand, tended were unchanged. United Press,
customers away und more than 100 Egyptian pounds to scare this year
compared with 200 caused them to turn especie to Brazil Egyptian pounds last year and
postwar most competitive, 300 in the immediate years-Reuter.
FACING CRISIS
Cairo, Apr. 17. Egypt is faced with economle disaster
chaos and political less she can export the bulk of her cotton crop by next July, It was reliably learnt
today.
getting And the prospects of rit of the crop are described "alim" unless she is prepared to whittle down raw cotton prices loo late. For demand before it on world markets is falling after WG years of stock-piling almost everywhere,
Rates Since the
opened in
as
current season up September to the Business was done In the local end of March, Egyptian cotton unofficial exchanar
market
sycro where pelees
New York
The unilateral abrogations of Rubber Futures
October
the Anglo-Egyptian Treaty last October and the accompanying
New York, Apr, 17. troubles in the Suez Canal zolle, Prices of rubber futures closed Britain alone not today 30 to 35 lower with sales Prices resulted in
contracts. buying 1,500,000 kantars which totalling 87
34.00-35.00 she would normally have pure closed today as follows chosed.
34.45 nomi. For more than two months the Alexandria market has num idle
and stagnant while cotton planters, brokers and ex- porters sort out financial trou- bles
caused by the difficulties attendant upon the liquidation of uncovered positions involving
total
than ot ligt less £5,000,000,
been
ut
TUWANGY
·TEGELDERG"
"EASTWAY" "TILUWAH”
Mania, Singapore, Kikurition, S, Altion
&& America
Singapore. Djakarta,
Surabala & Macanar Japan
ARRIVALR
Apr. 28th
May
374
May 101 May 13th
*From
Remarang,
Slagapore, Djakarte, Semarang,
Surabaja & Marusant
8.
America, R. Africa, Mauritius, Singapore & Plaškṛta Dinkarta, Belawan Deli & Singapore Macassar. Surabala, `Bemarang,
Djakarta & Singapore
General Agents,
HOLLAND EAST ASIA LINE
'AAGTEKERK" "ULITAR" "INOGKERK"
SAILING FROM EURÓTE
*NAILINGS TO. FUROPE
·KJELBRECHT"
Atay
10th
7th
Zoly
7th
105.
falls Hollerdam
Arrives Hongkong
Apr.
Bih
Play
"ULITAR" "BOOGERKNE "ABENDSKERK*
May
2nd
Juse 70
May
23th
July
July
204
Aug.
Rand
Bapt. Th
ELE
*AAGTEKERE”
"HIELDRECHT
14th
4th AUX. TLD
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS.
M.S. "NICOLINE MAERSK”
M.S. "SALLY MAERSK"
September
November
24.07 nom.
December
27.60 nom.
January (1953)
33.39 nom.
February
33,10 nom.
March April
May
JUT
32,78 T. 21.40 nom. 42.10 nom. 31.80 nom.
M.S. "LEXA MAERSK"
July
31.00 noms.
United Press.
M.S. "LAURA MAERSK"
M.S. "LEISE MAERSK"
The Government's promise to New York Cotton this exports tol
oris tolulied 2,700,000 kan-purchase remaining cotton 630 turs compared with 4,400,000 the end of the season at 125 15.03d 4,800,000 kantars in the car tallaris for Karnak in July and
3.00 responding period of the last
morning at the following rules:- TS. dollar per $1) ........ Sterling note per El Indonesia guilders (per 100). Shum cafu per 100) Singapore (Stratte)
FIC plastre (per 100)
two seasons respectively. Thai 14.30 leaves abu 0,300,000 kantars
Fresh Negotiations
BENALINE For Renewal Of
C3%
FAST SERVICE TO UNITED KINGDOM
AND CONTINENT
BY
S.S. "BENCRUACHAN"
DIRECT FOR SINGAPORE
THENCE
HAVRE, LONDON AND HAMBURG.
York Building."
Wheat Agreement
London, Apr. 17.
72
Futures
New York, Apr. 17.
of cotton futures
41.56 gaminpi
40.99
40.03
tallaris for Ashmual August does not ease tension
Prices and over- closed today as follows:- in the intervening months,
The hard-pressed
Egyptian cotton Spot committed
MPY holder also fears that the banks Juty will further restrict credit faci- Getchar
December the fact that Barch (1053) of lities in view the Government's "floor" prices a
15 and 10 tallaris above July
and October Prices. for Karnak
NEW ORLEANS MARKET Ashmuni respectively.
41.30 Spot
40.01-41.00
are
world
MARKED INSTABILITY MAY The
the July marked instability of Alexandrla collan futures | October
December market reflecta tho extent
ent to
May (1053) which the
regulprising action of other world markets is neces- Octouns
The Bary,
Alexandria market is so narrow that operations of
magnitude certain
which
Delegates from nearly every country in the would have no effect in New Western world met here today to begin private york, for example, are enough talks on whether to renew the International Wheat here not only Agreement, under which most of the world's ex-bad feeling of a most harmful, portable wheat is sold.
The proceedings opened with an address
by
which can fluctuate only within Axed limits.
whole
nature.
to upset the market but also to create
ARRIVALS FROM U.S.A.
In Port
May
2
May 17
Apr. 28
May 13 June
M.S. "GRETE MAERSK"
For Freight and Further Particulars please apply to:-
AGENTS:
JERSEN & CO.
Tel: Nos. 36066-9.
37.00
34.72
30.47 nominal
Pedder Building.
34.36
2534-33.5
34.48
10.03-49.04
37.04
34.11.30.72
33.01 4 437 ble
'-urg Preu+
JAPANESE BONDS Japanese bonda
London, Apr. 17.
"A" (4 of 1890) "B" 4s of jula) "C" (Be. of IP07) "D" (8 of 1994) "E" (5 of 1834)
841
0515
120
07
1381 United Press.
and cotton markot of its has to bear any loss resulting
of
the country's
Egypt and foreign economists are today advocating a series of drastic measure to cure the Loading at Buoy A-3 on 19th and 20th April | the Chairman of the International Wheat Council,
from a serious slump in raw Mr F. Sheed Anderson, former Under-Secretary numerous chronic ills.
First and foremost, they said. materials prices and the decline in the British Food Ministry.
the market must be free of any of international cotton prices lo
The Council then staried on
restrictions, so that it may find a lower level than that fixed its own price level in keeping locally. the work of organising the con-
To prevent viatent price flup- ference into a number of com- The voting powers of member with world demand and supply.
Exports of cotton must Bo tuations, an equalisation fund mittees to examine various countries are adjusted according
to the volume of their wheat encouraged to the fullest to win to which all cotton holders aspects of the agreement-prices, quotas, interpretation of rules commitments under the agree-back, come
ment. A decision to renew It traditional customers, There would contribute is being con Each of the 48 member coun- for a further term would have increasing talk of French, Brisidered. Alternatively, a tem porary price support scheme, by special cotton W.R. LOXLEY & CO., (CHINA) LTD.
to be ratified by the member tigh and other spinners adjust-insnced tries has one delegate to the
ing their spindles to Council and a number of ad-governments, Tel. 9410 & 38710.
assuming the uncalculated risk Among the countries repre- than Egyptian cotton t other lovy, may to evolved without visers and assistants. All told.
These exports must in any of the Government's promise of
be freed from all they number about 160,"
purchage. formal restrictions and .the If all these measures falled to caso now acn-pless
craza for bilateral bring about the desired market dente abandoned. In this conned stability and ensure the smooth: on, the economists dated that disposal of available cotton, The Gavertiment may be well then, according to the econo
is tem. advised to halve the cotton or mists, the only way
Barier deals include 500,000 | dria Futures. port tax, now at 4 per kantar paratily to suspend the Alexan- kantors with Russia, Austria and liquidation of the present un-
FINANCIAL RISK ·
A Royal Commission is to in The gravest feature of the quire shortly into the worldng tho Alexandria Cotton Egyptian Government's promise of to purchase unsold cotton is the Futures Marizet and the system
1,200,000 oritura.which it commend long-term reforms July 1062. It object is to well stocked and have that much Government already holds and its axpert trade, and re- prevent violent fucfuntions in more bargaining power. Stocks in
Moonwhile, Egypt is faced prices. The signatory countries West Germany, for example, ere bought last year at 285,000,000
and on which it is losing with the alternative-export or agree to sell and buy certain believed to be twice as large as a
£18,000,000 at 'current peleos, It Crash----Reuter, quantities of wheats at prices/year ago.-Reuter.
SOAPY WATER
IS GOOD FOR PLANTS:
USE BATH SURPLUS
IN THE
GARDEN.
WATER IS PRECIOUS
PRESS PHOTOGRAPHS
Copics
of
ronted pro Indio. Indonesia, The four exporting countries Ceylon, Japan and the Philip are the United States, Canada, pines. Australia and France. The re-
KENEWAL LIKELY · ·
.
maining 42 countries are wheat The agreement is likely to be When the organizatiprint work renewed for a further period but Importers
expected on is over the Conference proper much bargaining will begin. Officials hope ta prices and quantities. Observers photographie a progress report during consider it certain that Canada Australia will demand the private talks and make a and
under Anal announcement when they higher prices. The minimum and and in about three or four maximum prices
agreement are substantially be- works time.
The International Whept low prices ruling in the world's Agreement, signed in Washing-free market”.
taken by tho, South China Morning Post, South China Sunday Post-Herald, and China Mail Staff Photo- graphors: bro
view In the Morning Post Building,
{
on
ORDERS BOOKED
the
Rumania.
healthy position.
Market pending
PATTISON ORIENT LINE
LIMITED
S.S. "ADELANTO"
Loading From:
Apr. 7th.
12-14 Queen's Road, Central,
Sails For:
DIRECT Pusan Apr, 19th.
Tel. 25846.
CHINESE AGENTS: OVERSEA CHINESE STEAMSHIP CO., LTD. 48, Bonham Strand, West, Tels. 20127, 81118 & 81119.
F
ESSENTIAL SUPPLY CERTIFICATE DECLARATIONS
Forms 3, 4 & 5 as amended by the
Government of Hong Kong
NOW
SALE
SOUTH CHINA MORNING POST LTD.,
Hong Kong & Kowloon.
Theяc amended forms are now in force.