Page
THE CHINA MAIL, WEDNESDAY, MAY 21, 1952.
MESSAGERIES MARITIMES GOVERNMENT MEASURES
MOM
Arriving
Leaving
"DI HAKEIM" ........June 20 June 28
*"FELIX ROUSSEL” +BEAUVAIS"
May 21
MAY 21
+LAKE MICHIGAN"
> ...ZUMA
May 23 June 12
K
For Passenger & Freight,
Outward For
Espan
Homeward For
Minencillos Via Dlanila N. Africa & Eurevo N. Kärlek & Kurope
+ freight for Saigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & af Mediterranean ports via Marseilles,
Madagascar by transhipment in Saigon or Djibouti.
Subject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 58, Hongkong
Queen's Building (gr. floor),
EVERETT
Tel. 26651 (3 lines).
LINES
EVERETT ORIENT LINE
Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-Chinn, Slam, Malaya and East Coast Indian-Ports...
"NOREVERETT,
Arrives May 31 from Singapore. Sails
: June 1
"REBEVERETT"
for Japan:
Arrives June 6 from Manila. Sails June 7 for Singapore, Penang, Calcutta. & Rangoon
EVERETT STAR LINE
Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo. China, Slam, Malaya, Ceylon, West Coast Indian and Persian Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI”
In Fort
Loading
Sailing May 21 for Singapore, Madras, Colombo, Bombay, Kara-
chi & Persian Portà.
M.S. "STAR BETELGEUSE"
Loading May 25
Sailing May 26 for Japan.
Gulf
EVERETT STEAMSHIP CORPORATION_5/A Queen's Building, Telephono 31206. Chinese Department: Telephone 28293.
OFFICES AT
TOKYO-YOKOHAMA-KOBE-OSAKA
SEOUL PUSAN
M/V FELIX ROUSSEL
Will sail for.. MARSEILLES
via
MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ & PORT SAID.
on
Buying Boom Expected
New York, May 10,
nationwide Hirvey showed today that the big boom in Instalment plan buying is sill to come.
the
Merchants across the United country told the Press today
con- sumer till resistad the
though prices, even stulation on down pay- ment and instalment plan buying were removed last May 7.
Bald
►
merchanta Most that they had noticed до change in business suce the Government's new re- Kulation
consumers ZAVO "more time to pay" and smaller down payments fo Bothe cares. But merchants expressed their confidexo that a boom in buy would start soon.-United Press
HONGKONG SHARE MARKET
TO RELIEVE THE TEXTILE INDUSTRY
RONALD BOXALL)
London.
So much publicity has been given to the ending of the post-war boom in textiles, and the distress this has caused to the cotton industries of the world, that the underlying causes of the present slump have tended to become obscured.
As far as Lancashire is concerned, however, some of these present even greater problems than the immediate difficulties created by the sud- den deterioration in demand for cotton goods and the consequent accumulation of stocks.
A good deal of the present trouble in the Dangerously large stocks exist at every level of production, and cotton industry can be traced to the artificially these must be liquidated before high prices for raw cotton that have been the established since the war. And this, in turn, is no problem arising out of the world-wide shortage of time it will take to restore of dollars.
1
industry can begin ita momentous task of reorganisa-
Views differ as to the length
confidence in world markets. | Most people in the industry are
that Nearly half of all the_raw | * It has also decided to place no ogreed, though,
stocks cotion entering world trade is further defence orders for cotton should begin to low normally by -grown in the United States. But textiles with foreign firms, and the end of this summer.
there are other types of ection, to speed up the placing of be-
The Lancashire cotton industry that can be tween 220 million and £23 will then face its stiffest test. If grown elsewhere, substituted for it. And since | million worth of contracts for it fails, ít
well lose it might these can be bought without defence material with British all its overseas markets to foreign dollars, wo
world demand has tended mills.
It competitors. it qucceeds, a But these are measures which new and even to concentrate more and more
greater era of on "outside" growths.
cart,
at the most,bring only prosperity will await it. The result of this has been to temporary relief to the colton (This is the last of a series of
artificially
Industry The industry-leaders-artleter "High"="price"
on the Create an art -level for non-dollar, sottons of hope for further Government textile inducity:
Idea Boxall). Trading continued dull on the American,type the Raw help Bur Wut any clear
this Cotton Commission-the sole of what form-this-should take... Slock Exchange
COLONIAL MARKET morning business transacted purchaser for the British cotton
therefore
From Our Correspondent)
the
been
of I
-Lancashire-
by Ropald
was valued at only $164,40280 industry has the part held ever, sem on Lower Trend
Noon quotations and the morning's transactinos:— SHARES BUYERS SELLERS SALES
BANKS
HIK Dank East Asia INSURANCES
Union
Underwriters DOCKS, ETC.
X. Wher
N. P. Wharf
Dock
Provident Shal Dock
con -
nor of Government ald are obviously!
In Grains
ROYAL INTEROC
“TJKANTETS
"RUTS". "TJIWANGI”
SAILINGS
May June
"TRUKLU ERO".
Juno:
A
Juns 10
"EASTWAY"
Jahe 11
"TJILUWAR"
June
Jóns
Jaty
July
July
July 9
"TASMANL "TJIWANGT
"TSIFONDOK" **TIPPAŅAS" *
*TJITJALENGKA" **TILLUWAN"
July 10 July 14
“EASTIVAT" →THIWANDI
"TJIBODAN"
TIITJALENGKA“ Aug.
July 23 July 17
Ap
Aut. 3
2
“TIILUWAIN
*TIPONDOK”
**TITWANG!"*
"DOISSEVAIN”
Aus. 16.
Aug. 25
Sept. 2
Sept. 0
"TJIKAMPEK" "RUYS"
-TJIWANGX
“TASMAN"
LINES
To
Ben Stem, Djakarta, Tileehom, Semarang,
Japan
Singapore,
Djakarta,
Surabala & Maca
Semarang.
Alani, singapore, Mauritius,
8. Africa' d'§. America
Djakarta.
* Bairnbala do Machitar
Bemarang.
Singapore, Pinang & Belawan Deli Kingapore, jakarta, Genialab.
My Tozabala d ́Maensaar
Bingaparo, Penang & Relawan Deli Singapore, · AMAZI
Jaz surabala Macaviar
Homatang.
Djakarta, Tiirebon, Semarang,
Surabata de atacase
Dingapore, Penang di
E. & S. Afrien
Mana, pore,
8. Africa & H. America Japan
Hingapore, Djakarta,
Surabala & Macassar Djakarta, Tiirebon,
Mauritius,
Semarang,
Somaram.
Kurabala & Maciar Fingapore, Penang & Yelawan Dell -- KINKIPOTE, Djakarta, Semarang.
Surabala & Macassar..
Titebon, Bemarang.
Djakasta,
Butabala Mac
Manila
Singapore,
8. Afties & 8. America
Singapore,
Djakarta,
Mauritius,
Hemareng,
Burabata & Macassar Djakarth. Tjirebon, Bemaran,
Burubala di Matzikar
Singapore,
Djakarta,"
Surabaia de "Mischisar"
Bemaran
Manila, Bingapore, Staurillas,
Affles &B. Amerlen
ARRIVALS -
MAY May 21
May 20
Day
Зарат
8.
From
America, 8. Africa, Mavellins, Bingapore, & Manila Atarazzar. Burabala, Semarang,
Djakarta & Singaporo
Penang, Belawan. Deli do Bằngapore
General Agents.
HOLLAND
-N HAAGTEKERK"
requirements in markets at substantial pret
Impracticable Uke the sugges over the American price. Evention that the Government should
of
the to, about half-
buy up all sto
stocks of
of cotton goods and distribute them, free of charge, among "the poor."
Chicago, Mhy 20. Grain fulures joined most One of these is commodity marke's in a lower for the granting of, long-term trend. Wheat futures closed credits to the Colonies to enable them to increase their imports of lower to higher..
to 14 lower and soybeans 3/8 Lancashire's cotton goods, Wheat price per bushell
Another suggestion--this time spot
Bust
others
Ite of the largest single consideration,
але
worth
Kingdom's imports' of Am 170 1375 type coltons are normally
from the dollar area, and this forma Items of our dollar expenditure.
compensate for the
dit- ference in price between Ameri- Can cotton/ara
analogous Kowths, the Ray Color Com mission has instituted a system
action within the industry lay of price averaging" Spinners itselfs that all mills, should be July and other users in this country closed down for month to are therefore charged more than ena
enable stocks to be cleared. March the world price for dollar caffans. While this was being done, cotton Corn
for the non-dollarning should be on half-pay. MAY but
less growths.
however, I heard July complaints
114 1000 a 11,
Wheelock
LAND, ETC.
HK Hotel
40
7 714 4214
41 10040
4:00 1.0
120 140-000 ℗ 1.23
HK Land S'hal Land
UTILITIES
Tram Star Ferry C. Light (0) Electric
INDUSTRIALS
10 0.20
13.80 14.10
for
of surprisingly,
Very Lew
Spot
2.43 nominal
2.45-
234-224-32 2.3814-36 240/4
Reptember
December
1.60 nominal
about September
Gye
139
1.70-1.70
foreign competition. Most people December
now seem to realise that this is
July something that will be met to increasing extent in the
an
35.00 1500 @ 18.00 | This has given rise to com
plaints that Lancashire's inability 20.2021 145 20.30 to obtain supplies of "outside
2000 2000 cottons at world prices has Telephone 14.20, 13 2000 († 24:49 seriously undermined Its' com- in relation to petitive position its foreign competitors. And a special committee, set up by the Government to review the raw Eotton supply situation, agreed that some of the disadvantages of the present buying system would disappear it the monopoly were entered. World trade. But there to be relaxed.
Cement STORES, ETC.
Daly
16.30 300 10 Watson (Ris) 110 COTTONS
Ewo
$100 @ *
The Rubber
Markets
Londen, May 20. Prices of rubber futures closed today as follows:
Number 1 rubber, in pence per lb. June...................**** July/September October/December January/March
239-1 23-15 231-1 United Press. SINGAPORE MARKET
Singapore, May 20. Prices of rubber futures closed today as follows
Number 1 rubber, per ib,
June
0416-54 83-84% July August Number 2 rubber, June 14-21 Hanber 3 rubber. June 715-7915 Number 4-rubber. June H-18
Blanket crEDE ...... 03.09 No. 1 pale crepe 10-118 -United Press. NEW YORK, MARKET
FIRST STEP
July New York flour
$914-
monika and years ahead.
Little is heard now about the
per 200 16. zack. sharing of markets between the $12.ce nominal. -United' Prcon. world's major cotton industries, er methods of "prevent- other ma
competition that were
nt when
Japan first re-
•
STIFFEST TEST Lancashire today has a much
LONDON
ΤΙΝ
MARKET
Loudon, May 20, taster. Tumover was $5 tons
The tin market was quiet and
Spot fin, buyers
06414
all
937
(65)7-130
United Pres
are questions which will be dis- cussed at the forthcoming meet- The Government has therefore ing in Brlinin of the principal accepted the committee's recomtextile markets.
contenders for the world's cotton mendation that individual
none for cash. Prices closed at spinners and other wers should!
the end of the official morning be allowed to "contract out" of the Raw Cotton Commission and clearer ten of the course it must session as follows; make their own arrangements for adopt than it had a year or two Spot an, sellers the import of dollar cottons. To ago. It realises that its survival Business done at enable them to do so, they will as a large exporting Industry Three-months tini, buyers Three-months tin, sellors of lies in its ability to produce high fusness done at "antitlement" οι receive
settlement quality cloth at prices consumers foreign currency.
This has been welcomed by gán pay, For no other country the industry as the first step can offer serious competition in towards the re-opening of the this field.
The British cotton industry Liverpool Cotton Exchange and complete freedom in raw colton must adapt itself to the new Until then, however, | pattern of world trade that is buying. private imports will still be beginning to emerge.
Some severely
restricted
the markets" have by
beca 18xt, but others are taking their place. A availability of dollars.
Another
rising standard of living has the way in which Government has been urged to created a huge
dependence
Spot rubber, unbaled. B42-85% help the cotton Industry in its for Tomenshire" nome market present difficulties is by putting this has reduced is depois and an end to Britain's participation
en export trado, in the General Agreement on Tarifs and Trade or at least to seek a modification of the no new preference" clause in the Burcoment..
... New York, May 20, Prices of rubber futures closed today 5 to 37 points lower with sales totalling 70 contracts.
27.73-21.78 September
The Government now has the Orlober
21 Atarrainal
wholt question of Britain's future November
20.09 nominal December
20.00
relationship with G. A. T. T. January (1950)
2463 nominal
review. Arrangements February
20.00 nominal under March
13.29 nominal are also being made for consulta- April
tions between Commonwealth *3.23 bid June
24.03 nominal countries on the subject of im-
perial preferences. August
Friday May 23rd, 1952, at 10 p.m. Passengers are requested to board the vessel with their cabin baggage on the 23rd May between 6 and 9 p,m,
Baggage Room and Hold Baggage will be registered May nt Kowloon Godown No. 50 (No. 2 Gate, Canton Road entrance) on the 22nd May between 2 and 5 p.m. and on the 28rd May' between 9 a.m. and Noon.
July
24.33 nominat United Press.
No baggage will be registered after the times in Exchange Rates divisions to secure Government
dicated above.
COMPAGNIE DES
MESSAGERIES MARITIMES
Queen's Building,
Tel: 26651.
Business was done in the local unofficial
market exchense morning at the following rates;
U.S. dollar (per $1)
this
0.15
Sterling hote (per Indonesia uliders (per 100)
1)
15.83
3.10
Siam tical (per 100).... Singapore (Stralis) ...
FIC plastes (per 100)
A campaign has, at the same time, been started by Members of Parliament for Lancashire
help in encouraging the in those areas which have been establishment of new industries
warst hit by the slump.
LINITED HELP
A good deal of the present 31.00 hardship could undoubtedly have
1.70 12.10 been avoided it there had been other industries to which cotton workers could go. But very few
mony- In
the depends on the cotton industry for a livelihood; In others, the proportion la even | Nigger 4 while one of the cemnamic presscupa-
Indústrias half
Pacific Far East Love, Jue.
Fast Regular Trans-Pacific Service.
DIRECT
BAN FRANCISCO, LOS ANGEL.88
OVERLAND
NEW WORK-CHICA{{[5•DETUOIT-TORONTO MONİREAL, AND ALL AMERICAN & CANADIAN, CITES
at the moment is with a serious shortage of labour, North Lancashire has no fewer wholly or partly
than
Guam, Marinas Islands, Micronesian Islanda - Regular Service dirent or with transhipment of antime,
Vinel
"WILLIAM LUCKENBACH”
"BAWAH BEAR”'
"WILUJAM LUCKENDACH”
From
Ban Francisco.
Manila
Blogapore
Balle
Jund
Juno 19
Jusq
For
Eingapore, Penang & Pari
Bweltenham
San Francisco & Los Angeles
vis Jepan
In the
the Govern
ment has given a limited amount of help to the Industry to enable it to carry on until better times return. It has, for example, banned all Imnoris of cotton grey cloth from Japan-which last
At the moment, however, the world market for cotton textiles is suffering from an acute attack of indigestion. $lx years of rising prices have culminated in a buyers' strike, and tonsumers all over the world are waiting and hoping for them to fall.
New York Sugar
.'
Futures
New York, May 20, World sugar futures closed today unchanged to one lower with sales totalling 50 contracts.
Contract No. 6 closed un-
totalling 25 contracts. changed to 1. lower with sales
Contract No. 4 (world) May July September November Spat
Contract No.8
July.... September November
Spot
4.26 nominal €24
431 nominal 4.00 nominal
4.22
6.00
000 bid
Uncled Press.
BENN LINE
PANELEN
FAST SERVICE
TO UNITED KINGDOM AND CONTINENT
BENMACDHUI”
Loading Hongkong 26th and 27th May
DIRECT TO SINGAPORE THENCE
HAVRE, LONDON AND ANTWERP.
San Francisco B. Los Angeles- year amounted to more than 675W. R. LOXLEY
Po Via Kebo Anog julgada, million square yards-and, t
For full particulars call United States Fines Co., General Agents, Queen's Building, Tel; 29106,
Produced By qvalcm of import York Building.. quotas for cloths.
other forelan grey
CO., (CHINA) LTR.
Tel: 84165 & 8710.
#ULITAD” "ALMKERK" "ABENDSKENK"
́SAILING TO EUROPE
June
July
Aug.
Sept.
Baila
Rotterdam
Balled Apr.
3xy
#dly
ABE.
Sept.
SAILING FROM EUROPE
"DLITARS
*ALMKERK"
"ARENDSKERK" "KIELDIBENT”
"AAGTEKERK"
་
MAERSK
ត
INUX
LINE
Arriva
Hongkong maga
June
JIV
Aus
Sept.
get,
LINE
FAST FORTNIGHTLY BERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis BAN FRANCISCO, LOS ANGELES AND PANAMA, NEXT SAILINGS
M.S. "M.S.
LAURA MAERSK" "LEISE MAERSK"
M.S. "GRETE MAERSK”"
ARRIVALS FROM U.S.A.
M.S. "GRETE MAERSK"
M.S. "OLGA MAERSK"
M.S. "JEPPESEN MAERSK❞
NEN
June
June 17 July
June 7 June 17
June 29
For Freight and Further Particulars please' apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel: Nos. 36066-9.
PATTISON ORIENT LINE
··LIMITED
$.S. “LAURE PATTISON".
In Port
12-14 Queen's Road, Central
Salla For:
DIRECT- Puзan & Kobo May 22nd.
Tel. 25346.
CHINESE AGENTS:
OVERSEA CHINESE STEAMSHIP CO., LTD.
48, Bonliam Strand, West, Tels, 26127, 81118 & 81110.
WATER
15: PRECIOUS USE T
WISELY
St. John Ambulance Brigade
Free Ambulance Service for Emergency Accident Cases. Tef, Hong Kong 35035 Tel, Kowloon “52222]