VANES
• Winkaporo, Diskarta,"
Makina bata de afacANKEP
REMATADE.
Raigon, Jakarts, Tilretan, Kemarang,
SUTADAIR & "Micasar"
Japan
Sulgapore,
Djakarta.
aurapala ACAMAT
Alngapore,
Semarang,
faul
8. Afries & 8. America Djakarta, Tilrebon, Hemarang,
Surabala & Macassar
Ringapore, Penang & Bolawah Dell
singapore,.
Djakarta,
Kamarans,
BUTADRIA & AfRemaker Kingapore, Penang & Belawan fell Japani
KingADAYS, Dlakerta, Remarang.
May
MAY „JERS
June
4
BYUNODALO
10
“KAHTWAY!*
... แก 33
TJILUWAH"
June 16
"TARSIAN"
Juna J
*TJITJALENGKA“ "THWANQI”
Jaha ..
July 2
"TUTÄNDOR”
July
Djakarta,
Witchan,
#THPANARES
%
Manila, Singapore,
E., & B. Algien
"RDYS"
"TJHLUWATE"
"TJIKAMPERY
July
July
July
Juty 21
Aug.
lf.
1
"EASTWAY" #TUWANGP
TJIBODAS
"EJTJALENGKA” ANE.
→THLUWAH
TWANGI"
than anything else is a liquido- «TIPONDOR" tion of stucks 41 "slaughter prices." Even now, many cotton goods can be bought in the shops at less than their replacement. cost. Any tendency for this to develop into the establishment of a price level that the industry could not maintain would prolong the crisis and threaten any firms with bankruptcy.
(The ith in this series of articles on Britain's textile In- destry will appear noxi Tuen- day and will deal with Landa- shire's long-term problem).
Fears Of A Rice Crisis
dustry long before the fact justi- the average consumer has shown GRAVE SHORTAGE
700 30 Bled it. Nerious degan to himself to be most ready to buy
about a
C. Light (N) 5.43 520 i 1. tolk
1000 6 3.3 Electrie. 21.10 21 30 400 21.10 in Lancashire,
100 110
depression" The Government's answer to Leading
members,
that this is
the
removal of, 50 21. of the industry made speeches purchase tax would not solve
industry's Telephone 14,801540 53000 g 1300ceferring to huge stocks of unsold the
problem because INDUSTRIALS
materials. Deputations were sent the buyers strike affects all ALS 14.40 14.00 420 @ 1440 to Whitehall to demand all sorts types of textiles, including those Cumment
which are now tax-free. Rone STORES ETC 17:20
If also argues,
with some Dalry
justineation, that any concession Watson
...... 10.50 16.30
21.30 Watson (Rist 120
to the cotton hudstry would Crawford
cotton prices were lead
to demands for treatment by other that
COTTONS
Ewo
Gulf
for Singapore, Madras, Colombo, Bombay, Kara- chỉ
Persian
Porta.
M.S. "STAR BETELGEUSE“
Loading May 24
Sailing May 25 for Japan.
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telaphone 31206. Chinese Department: Telephone 28293.
OFFICES AT
TOKYO-YOKOHAMA-KOBE-OSAKA SEOUL-PUSAN
PATTISON ORIENT LINE
LIMITED
S,S. "LAURE PATTISON”
Due From:
Japan
In Port.
12-14 Queen's Road, Central
303: 1420
2002130 37.4 1.20
9312 2.23 2.40 3200 2.50
TEXTILE CONTROLS
TO GO
www
of Government action to alleviate the situation.
The effect of all this was to confirm the consumer in his view that about to fall. Purchases
had been postponed until prices consumer goods industries, which
more Woro
brought
into line are also beginning to experience with the new level of demanda stiffening DI consumer were put off indefinitely. Manu-resistance. facturers were calling for the QUALITY AFFECTED abolition of the Utility schomo The Government's argument (which allowed certain alassos of that the removal of purchase tax textile goods to be sold free of on textiles would mean a loss of purchase
tax) and consumers between £80 and £100 million decided, therefore, to wait until in revenue is less valid. The in- after the
Budget before re-dustry points out, for instance, slocking their wardrobes and that this estimate It based on linen cupboards.
sales at last year's high level, The Budget did, in fact, abolish With sales at their presant level the Utility acheme-but only to the amount actually dewing into substitute it with an even more the Exchequer from this source complicated system of purchase must be at a much lower annual tax. Consumers Who had rate. previously bought best-quality
One of the worst aspects of the Utility textiles now found they presont system of taxation has had to pay tax on the same been its effect on the quality of class of goods.
Manu- Lancashire's products. facturers,
with an eye to sales in
STOCKS PILING UP
Washington, May 15. Government price cmcials said today that ceiling prices
suspended on seould be cotton and practically all types of textiles, probably on Friday: Orders had been drafted and were awaiting the signature of the Price Stabiliser, Mr Ellis Arnall The suspension is not expected to affect selling prices
protested. But this time, instead and more of their production to which are below
the ceilings of demanding a modification of those textiles which escape taxa- However, price officials said they
called for its tion, and this has sometimes would have to watch the selling purchase tax, it
total abolition. Once again, resulted prices of cotton very carefully.
de- a lamontable sea in are still study consumers were left in doubt as basement of quality. Price ofolais, of Euspend- ||
future level of cotton Lancashire Industrialists resont prices; and by but
this time they this "tax on craft", which they ceilings on apparel,
confused that RD the decision to suspend
they say is tending to destroy the in- cotton ceilings indicated that stopped buying altogether. Meanwhile, stacks are
dustry's traditional pride in its The price
con products. Even if the Govern- will agency
tinuing to accumulate, and the ment insists on retaining the similar action on apparel.
aftuation has rapidly assumed purchase tax, they hope it will selling stump" Raw cotton is
The in- at least consider a modification cant below the dustry is in a dilemma.
proportions. about 15 per
Its of the system to allow a wider colling or about eight cents
olling the
of below
celling price
Again the cotton industry it
the shop, have devated more
on fir
ing
could
Sails For:
day's
DIRECT Pusan. & Kobe May 20th.
agency.
Tel. 26346,
CHINESE AGENTS:
raw
Lake
It had
the
were
cries of "Wall" have caused a range of textiles to be sold tax- slight recession to develop into tree.
scrlous buyers' strike, and It
This
does not exhaust
Д
is now too late to turn the tide purchase tax
Tho
wish to develop for
question of purchase tax. Alcability" of a new cloth or
IN P.I.
Manila, May 15.
- Despite - repeated Govern- ment
reassurances that
there will be no rice crisis in the Philippines, the country will shortly be faced with the mast acute rice short- age problem this year.
Well-informed observers re- tuse to take the Government's reœsurances at their face value. The same sources declared that the country Is faced with the immediate need of importing 58,060 tons of rice before Sep- timber's harvest.
They added that lill now not A single grain needed hos ar rivod here to replenish the rice They supply of the country. went on to say that what is happening row is that each Government distributing centre is blaming the other on falling to get rice earlier and at lower prices,
The Philippine Congress, whlen is now in zession, is re- ported do have unearthed 3 scandal Involving Phillippine Legation officials in Bangkok. Who are responsible for the long delay in the arrival of rice imported from Thailand.
Almost everybody is being blamed in this connection. They Include the Central Bank of the Philippines, which allocates the funds needed for imports; the Import Control Commlesion, which determines the kind and of import and the quantity Rice Emergency Beard for failure to inform
President Elpidio tremely poor local harvest last
Quirino of the
CX- December.
reserves.
*THLUWAT" *THIKAMPEK" *RUY**
*
* 2A" -
*
Aug. 16
Aug. 23
Hopt. R
Vitabala & Maraisar
Semarang.
J'enang
&
Surabaix & Maraisar
Manila, Яндарете, Maurllige,
Singapore,
8. Africa 4 8. America
Djakarta,
Burabila & Maenssar jakarta,
Semarang.
Thirrbon. Semarang,
Surabala & Macaskar
Fingapore, Penang & Belawan Deli Непрагото, Djaftneta, Semarang,
Burnbita & Matasiar
Djakarta, Tilrebon, Semarang,
Surabala & Marasar
Manite, Bingapore, Mauriti
8. Africa 8. America
Singapore, jakarta, Semarang,
Surabala & Macassar
jakarta. Tirebon, Semarang,
Surabais & Macassar
-ingapore,
Jakarta, Semarang
Surabula & Macassar
ARRIVALS
In Port May
atay
24 PH
“TJWANGU"
"TASMAN"
May 20
Stay EL
"BLITAR′′
Japan
From
Amerira, 8. Atlea. Mauritius, Kingapore, & Manila
Maramar, Buzabala, Seinatang.
Djakária & Singapore "Penang, Belawan Deli & Singapore
General Agents.
HOLLAND EAST ASIA LINE
BAILING TO EUROPE
"AAGTEKERK"
June
July
~"ALMKERK"
"ARENDSKERK"
Sent.
Balls
SAILING FROM EUROPE
Rotterdam
"AAGTEKENK"
Ith Port
"ILITAR
Sale Apr.
23
"ALBEAR" ·
May
#
July
"ARENUSKERK"
July
2
Aug.
Aus.
Мер
“XIELDRECHT"
Arrives Hongkong
daine
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO;
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "LEXA MAERSK” M.S. "LAURA MAERSK" M.S. "LEISE MAERSK"
ARRIVALS FROM U.S.A.
M.S. "GRETE MAERSK”.
M.S. "OLGA MAERSK” M.S..
"JEPPESEN MAERSK"
May
18 June 2 June 17
June 7
June 17
June 20
For Freight and Further Particulars please apply to:---
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel: Nos. 36066-9.
BENYLINE
FROM TEX
FAST SERVICE
PAND
in
TO UNITED KINGDOM AND CONTINENT..
much-
ANNUAL NEEDS 45 cents a pound. ·
The truth is that annually the the selling price
the Philippines needs, in addition u to the calling in a
controversy, for local rice produco, about 150,000 of public indignniion against one of the industry's strongest tens of rice from abroad. truding. The suspension provides for high prices.
arguments is that the incidence This Members of the cotton trade of this tax
Involves recontrol
selling prices if
expenditure en beltor-quality amounting from 40 to 60 million The find themselves in an unenviable textiles humpers approach the coilinga.
the drive for
pesos per year. The sum is con- action will be the second major position. On the one hand, they now export markets.
sidered a drain on the
a big dr homo markot, besides
the coun- move by the price dare not repeat the mistake of suspension
try's slim dollar drawing pubile attention to their Provlously
the being
chief outlet for
Unices public bidding difficulties for fear that it might Lancashire's output, is also a stoppet up to enable private auspended cellings on raw wool, further delay the resumption of valuable "testing ground" for dealers to Import the catile hides, burlap, tallow
some tatable fats buying. But, on the other hand, new lines which manufacturers needed rice immediately, local greases and
very strongly on the w and oils, including cotton scod they feel
export observers pay the country will be The man OVERSEA CHINESE STEAMSHIP CO., LTD. | ell.-United Press.
markets, By testing the at way of exerting pressure
mercy of rice winnipula-
Congressmen have industry
nationalisation of the rice posed
in. In order production and distribution al- ABSORBING CAPITAL
though observers The home market is also an ful if such a proposal will, ever servers say it is doubt- outlet for goods which, though be realised due to strong pressure Not unnaturally, therefore, the matte for export, have, for
divided into two reason or another, been left on the Congress.
Opposition groups from the 1.70 Industry has 12.10 | rival campu. There is no dif- merchants hands. Purchase tax
ference of opinion over the need pn these better-quality goods, it that the Philippines, whose prin- It is indeed a sad commentary remove purchaso tax on is argued, deprives the industry Lancashire's products. Members of the use of the home market shpal produce in rice and which of the industry, almost to a man, as a testing
has enough land to grow rice to for new meet the needs of the country.
48, Bonham Strand, West,
Tels, 26127, 21118 & 81119.
The Rubber Cotton Prices
Markets
London, May 15.
Prices of rubber futures closed
today as follows:-
Number 1 rubber.
In pence per 12... 21.2014 June
23-2514
July/September
2414-23 October/December IN 24-3 January/March ......... 23-231/
-United Press,
NEW YORK MARKET
Now York, May. 15.
Prices of rubber futures closed Inlay 50 to 60 points lower with sales (plating B1 contracts.
Prices closed today as fol- lows:
September
Octobor
In New York
New York, May 15, Prices of cotton futures closed today us follows:
20.50 37,04-37.07
20.04-34.03
Spot July
October
December March
May July Oclutier
95.90
།
34.43 nominat
24.11 nominal
-United Precu.
NEW ORLEANS MARKET Spat July October Dearmber March
May July
20,54 nominal
October
November
December
37,50
January (1983)
27.20
February
March
April
May
June
July
August
$0.24
20.00
21.80 bla
53.74 bid
35.30 bid.
-United/Prosz.
Karachi, May 15.
The trade agreement between Pakistan and Western Germany was today extended unül the and of June, The agreement triginally expired on December 31, 1951-France-Presse,
even pro-
on the Government to remove a new pattern in the home tors, hoarders and pronteers. Exchange Rates be to rally public opinion to judge whether it will prove
this impediment to sales would market they claim to be able to
successful in overseas markets.
Business was done in the local their side, but this would only uneficial
this strengthen the conviction that exchange market morning at the following rates:
4 prices have yet to touch rock U.S. doller (per #1)
18,78 bottom.
Sterling note (per 1 Indonesia guilders (per 100)
Stam ical (per 100)
3.00 31.00
Singapore (Biraita)
FIC plastres (per 300)
JAPANESE BONDS
London, May 15.
Japanese bonds
"A" (45. of 1890)
B1
to
Bround
one
aro convinced that it should go | textiles and an outics of last The difference arises over the resort for frustrated exports. best means
But whatever the Govern- of persuading the 04 "B" (s, of 1010)
Government to fall in with thoir | ment's intentions on the future 1274 "C" (5 of 1907)
67% request.
of purchase tex may be, the in- "D" (s. of 1934)
dustry wants a definite statement "E" (644x, of 1934) 187 Consols
One school of thought, headed on the matter-one way or the 50% -United Press. by the powerful United Textile other. Factory Workers Association trade takes the view that the host way
Citronella Price
"OPPOSING VIEWS
Nothing is
La 15 Worne for than the present
·un-
written
"BENLEDI"
rder to control Loading At Buoy A-4 15th and 16th May
DIRECT TO SINGAPORE
...THENCE -
LIVERPOOL, DUBLIN AND HAMBURG.
is how faced with a shortage oW, R. LOXLEY & CO,, (CHINA) LTD.
York Building.
tice.-France-Presse.
LONDON TIN
MARKET
London, May 13. The tin market closed siendier today, Turnover was 80 tons-- rong for ensh,
to achieve this aim is to make the blunts about prices. Even a "no" would be better than public aware of the industry's the present veelllation. Talpei, May 16. The Banic of Taiwan today plight, Mass meetings are there (Since this article was
Prices closed, at the end of the Government added the price of citronella | šare
allover cha being hold
has
cut the the affelel morning › seesian as oll to put it at par will, the fre- Lanenshina to prosal of the hated Edhe tax by a quarter fou
40 US, Case cents. The step was taken to
case for the removal of the tornational
Spot, tin, buyers of
Meanwhile, the industry la stili spat tin, sellers section of the In- putting a large part of Its reduced. Three-monins in, buyers t Another tourage expostors who had lately asited for an increase Industry, however, bellevas that output to stack-and this Three-months tin, sollers 855 the export price to meet te ih this is the wrong way to rapidly absorbing working Bulness done at creased cost.—Franco-Previc, about it. Apart from increasing capital. What it dreads more
United Presa,
Settlement
057-
WATER
IS PRECIOUS
USE IT WISELY
Tel. 84165 & 88710.
|St. John Ambulance Brigade
Free Ambulance Service for Emorgency
Accident Casos
Tol, Hong Kong 35035 Tal. Kowloon : 52222