MESSAGERIES MARITIMES M&M
"DIR HAKKIM”
Arriving
LPATINE
--Ene 20 June 24
“LA: MARSEILLAIBE"
June 20 July
PLAKE MICHIGAN” ...June +"MONKAY"
9
June 11 June 30 Juty I PLA MARSEILLAISE" City 11 July 12
•
For Passenger and Freight.
+ freight for
Ontward For
Japan Kobe
Tokpkama
; fameward. War
N. Africa & Europe N. Africa & Europe Marquis vis Galgon
Saigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterrancan ports via Marseilles.
Madagascar by transhipment in Saigon or Djibouti,
Subject To Change Wilkout Notice.
CIE DES MESSAGERIES. MARITIMES 1.O. Box 68, Hongkong Queon's Building (gr. floor)
Tel. 26651 (3 lines).
EVERETT LINES
EVERETT ́ ORİENT LINE
Fast cargo and passengers service refrigeration space available for Koren, Japan, China, Philippines, Indo-Chinn, Siam, Malaya, Burma and East Const Indian Ports.
"NOREVERETT"
Arrives May 29 from Singapore. Suils May 30 for Japan.
"REBEVERETT"
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. "STAR BETELGEUSE"
Loading June 24
Sailing June 26 for Singapore, Madras, Colombo, Bombay, Karachi, Basrah Bahrein,
EVERETT STEAMSHIP CORPORATION S/A
Queen's Building, Telophona 31206. Chinese Department: Telophone 28293.
BENNLINE
JAS
PARTAN
FAST SERVICE
TO UNITED KINGDOM AND CONTINENT
"BENMACDHUI"
THE CHINA MAIL, WEDNESDAY, MAY 28, 1952.
Page
BALANCE C OF PAYMENTS ROYAL INTEROCEAN LINes
A Barometer Treasuries Cannot Ignore
Want Increased Wheat Prices
Ollawa, May. 27
The Food Minister told Parlament jast geht that Pandas took the stand at the recent International Wheat Agreement coll ference in London that there should be
4 Bub statital Increase". wheat.
prices.
'He added that the United, Slates, Australia and other exporting countries adopted a similar position,
Action on minimum and maximum prices has beça delayed while the question was given further study by an international committee.
Reuter.
HONGKONG
SHARE MARKET
Top Priority Topic In The
World's Business Circles
London.
It is not so many years since "Balance of Payments" was but a term discussed only in the chancelleries and in the innermost councils of the national banks of most of the countries of the world.
To the ordinary man or woman it meant little or nothing. Cer- tainly they probably never dreamt that this expression would play so large a part in their daily lives as it has done since 1945.
rests;
It has become a barometer upon which the eye of Treasuries over it sends out its warnings, to which heed must be given, as it must be, to the factors which have an effect upon it, says the Liverpool Journal of Commerce
204 categories
and
also have
been re-
#RUVAN
**JIWANGI
"TEGELBERG“
"TJIBODAS"
**TINUPAP!
SAILINGS
.និងក.
10 Japa 16-
مهارل
July
nikerte KYRATARY
Stanila, Bingapore, Startin
8. Africs &. America
13Jakarta, Tjizabon,
Burabala & AYAKKA
Bingapore.
Tilakajia.
"Suradata # Maćaskay
Minkabore, vébats & Belawan deli-
**Buckhala & Zaleckigr
Reparing,
Tilreign, Reparans.
Kabala di Wineglær
Slanine Bingapore, Penang
14. Atries
PARIS. sangre, : Neuritius,
“TASKIAN" KIJIWANG
Sund
JAN.
"TJIPONDAF" "TJIPANA5*
"AU"
Ju
*TJITJALENGKAY
** Q July. 10 34.
July
July 27 Aug. 2
AVE.
Bingepbre,
Djakarta,
Hurabala a Macama
"TJIKAMPEK"
"EASTWAY" "TRIWANGI" "TIDODAS"
*TIITJALENGKĄ". Aug.
“TULUTAR” **TIPONDOR" “THWANGI"
"B01BBEYAIN" "TILUPAII"
"TASMAN" "TEGELDBBG"
Aug. 16.
Art. 24
Sept.
Sept. $
Sept. 1
diapore, nizkaria, › Agmatq*,
"Buradala A" Nikčaskar
Djakarta,
Timbot,
Barabala KiMPARAT
Alugapore, Penang & Belawan Deli
plakatia Titrebon,
'Burabola di Macassar
Bemarang,
Semarang,
Semarang.
Semarang,
Manila, Blagapore, Mauriķus,
'8,' Africa 'as. America
Djakaria, Surabala tagasine Djakarta, Tirebon, Bemarang,
Burabala Diacariat
Singapore, Djakaş, Semarang
Burabila di-Blacusant
Stanja, Singapore, Mauritius. 8.
“Atries 4" Bi" America Singapore, Djakaria. Semarang.
Surabain & KINCSENT
AKRIVALS
In Port
May 20
J400 Jdne 7
From
5. America, S. Africa. Mauritius
Bingapore & MININ
Macassar...
Surabala şemarang,
Djakarta & Blushmore Tenang. Belayan Pill" Einganro Japan
General Agents.
HOLLAND EAST ASIA LINE
For Instance,
own industry are not too poorly paid. of economie activity from 1950 our Chancellor of the Exchequer, Me They are in fact, better off than to 1951 (four points by the U.N.
majority of industrial World Economia Survey) was R. A. Butler, has not falled to the announce the recordings of his worker with an overall average once again largely accounted for barometer of trade. He did so of $1.620. The wholesale trade by the continued price instation, But It would appear that there very recently In anything but average was $1.009, lumber and
www also a substantial increase in "RUY" happy terms on the balance of wood products $1.401, textile mill payments of the United Kingdon, products $1.333, and laundry volume of economic activity. TIANGI"
The workers the lowest category-
year must, increase last and of the sterling area sa a
however, whole.
He has been supported $0.921. by Mr Sydney Holland, Fremler
The review remarks: "Of the gistered pri
primarily during the of production first half of the year, Judging of New Zealand, on the serious- ness of bis interpretation of the workers non-supervisory from the indices, which actually position of the sterling area.
employees whose hourly earnings
showed
alight declining ten- Throughout the world today, are reported by the Government, dencies during the second half
steelworkers earnings exceed of the year." (From Our Correspondent) balance of payments has become
workers Jn 218 The Unton's income rose be- a top priority tople in banking those
tween the years from Business continued the and business circles, some with categoric doldrums on the Stock Exchange favourable, but most with un-
quotes Presidcat million to about £1,114 milljon, 207 million Vis this morning when the total favourabic, contemplation and Truman, who supports the men's of which
cinims.
derived
from is re- The President
agriculture. valuo was only $00,022 Nann reaction.
"Steel
Com- forestry and fisheries. ported to have said: quotations and the morning's transactions:
Industry profits are now at the rate of about
a profit of about According to the surveys trade tion of a surplus or a deficit-the now making chief are the cost of the com- $19.50 on every ton of steel they "gures for February this year
were £39 million to
Imports produce. On top of that they modities in the trade exchange can get a price increase of close The former is an increase of £9
and £20 million to
exports. and the wages pais coins of on $8 per ton under the Capehart million, the latter a decrease of concerned with the processing raw materials in such commodi
just £1 million. The result
Aver £1
SHARES BUYERS SELLERS SALES
DANKS
EXX Bank 1300
East Asia... 141
INSURANCES
trilon 2
DOCKS. ETC.
K. Whart N.. Whart
XD
Provident...
Wheelock LAND, ETC.
HK Hotel...
(Bia)
42
715
50 @ 740
70
51%
7.20
HK Land
412
75 0 30
S'hai Land
1.05
114..
UTILITIES
3500 200
Star Ferry
30
*Team "................. 15.00
C. Light (0) 8.15 0.20
C. Light (N) B
octric
INDUSTRIAS 20.00
Rope
STORES, ETC.
Dairy...
Watson (Ris)
L.. Crawford COTIONS
Ewo
13.50
1714
THREE FACTORS Of the factors which
go into the study of the movement of
וויר
duced £22
£930
balance of payments-thp crea- a year. The steel crcè, mines and transport pro-
"OLITAR”.
"ARENDSZERK“
SAILING TO EUROPE
"AAGTEREDE”
Jono
Joly
"ALMKERK”
Aur.
Baja
Totterdam
Arriver Hoogkonk
Balled Apr.
Juno
May
July
Avd.
Atta.
Sept.
are and £17m, £18 million, | SAILING FROM EUROPE
ties, to which must obviously be i ment to the price control
cost, controversy over the cost of 13.7090 15.80 the finished article revolves for part around wages.
the nited Kingdom, the hub
In the
Dssessment
jand
Respectively
119
1948 and 1951 the re-
(almost the sufficient to increase dividends. Between British cars rose
the UFEES Per
to 19,297 from 13.721
1500 4.10.00 added the capacity of overseas
of the steel of thesa on the movements pr the first two months of the year markets to buy the raw materials industry's profils has released a or the final processed articles.
as to profits were un increase of imports of flood of pratory
fier £13 million and a drop of £3 But however important the cast "before taxes" and profits "afler
but the
million in paychological
exports. of the raw materials, whatever taxes,"
The survey their relatively high or low initial factor is that the men set data on the imports of motor gives interesting their employers are able to cars, based upon registration of
increase in their absorb that
new cars at Pretoria. The re- current profits.
gistrations for 1948, 1949, 1950 In many respects Mr. Buiter
1951
were respectively. has the same contention to meet 01,052, 49,098, 30,205 mid 100 e 20.90 of the sterling area (almost a
world universal debtor), and in here. Industry is earning profits the United States world universal creditor) 10 500 1300 wage problem today is .con
That United States," which had tinuous subject for negotiation.
42.130 in 1849, was only psychology
of both
excipe 8,517 in countries in
1951. Canada's contti- approach to for curtailing wages claims, and the resulting industry is all endeavour of any bution. fell also, from 3.077 to
to Ward 2,845. decisions are,
Germany, on the other however, poles off claims from other categories hand, had Ii in 1948, 10 in
1940, apart. In the United States, a
of indiktrini and agricultural but her contribution Tose to series of wage increases has workers. Not much harm would made the American workers result to the Treasury if we had 1,372 in 1950 and 3,071 in 1951. Registrations of commercial a higher volume of wages and vehicles fell from 21,309 in 1948 amongst the highest paid in the
content of proflts upon which to operate; to 9 400 in 1951: the fall of U.S. world. The
but he had the balance of pay-vehicles in that period was from ments, the international factor, 15,008 to 4,418. to protect against
world com- petition.",
334
The Rubber
Markets
Singapore, May 27. Prices of rubber futures closed today as follows:-
Number 1 rubber, per lb.
June
7019-14
July
August
Number 2 rúķiber, June
77-7734
Number 3 rubber, June .. 7392-744
Number 4 rubber, June
Spel, rubber, unbated
Blanket crepa
No. 1 pato črenè
79-5944 02-03 100-103
United Press.
LONDON MARKET
London, May 27. Prices of rubber futures closed today as follows:-. Number 1 rubber, in renco
Eer lb,
July
August
September
July/September
October/December.
he
has
•ment of the ers resulted in
in U.S. national produc-
tion being the highest ever recorded in the bistory of world trade beneficial results to qt Washington, with Impairment the
the ot
little. prxports. country's
In Britain,
POLICY
tion
he
them
canexing
H
erke
ECONOMIC SURVEY
a
a
The recent release of the United Nations "World Economy Survey" shows that, in 1951, the
REST Buller has index of industrial expansion.
compared with 1050, of the United Kingdom was the lowest
ADVANCES
IN COTTON
all, Denmark excepted. With WIPED OUT
followed his predecessors in odice, the late Sir Stafford Cripps and Mr Hugh Gaitskell, in urging of ander for 1950 as 109, that of wage restraint upon the unions, the and in a diffidence to accede to Denmark was 101 In 1951 the claims for increased wages, in United
in United Kingdom 102, and the part or in whole, as an incentive world average 112. The to greater productivity. With State
States, at 110, the example of America in mind, world the question arises as to whether
Creases took placa in the ex-
United was under that average. The largest in-
New York, May 27. Cotton went through an ex- ceptionally quiet session.
Prices started out bouyant, moving up around și q bale,
with
he should not now yield some enemy countries and in those. but gains were whittled down
graciously and
and acknowledge adherents of the Soviet THO result
2014-2 23-231 what མ་་་་ the 2016-23 The 221-1 negotiations were conducted on a portion United Press.
the market
bloc, gradually
closing almost on the Jown for the day.
23-234 Staims upon their Depleted pletorially, the. Increase
of Japan seems out of all рго- The nervousness over the
Oermany
Exchange Rates ployees and employers alike, moderate increase in volume can
Budinca Was
U.S. dollar (per $1)
Sterling note, (per (1) Indonesia gvilders (zer 109) Slap ticals (rier 100) Singapore (Stra:))
Loading at Buoy “A” 2 29th and 30th May plastres (per 100)
DIRECT TO SINGAPORĘ
THENCE
HAVRE, LONDON AND ANTWERP,
W. R. LOXLEY & CO., (CHINA) LTD.
York Building.
Tel. 84165 & 88710.
15.80
*3.12
yet
11.95"ployees. The sieel employees in
the
did this and United States precipitated a strike which was construed at Washington as a "national emergency."
The desired increase of wage
has to
been granted, and, com-
huge
Berlin zituation had a dulling.
GELATAR" “ALUKERK** "ARENDSKENK" *KIELDRECHT"
تواباد
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTBIÓRE & PHILADELPITA via SAN FRANCISCO, LQ8 ANGBLES AND PANAMA.
M.S.
.
NEXT SAILINGS
LAURA MAERSK”.
M.S. "LEISD MAERSK❞
M.S. "GRETE MAERSK”
ARRIVALS FROM U.S.A.
M.S. "GRETE MAERSK”
MS. "OLGA MAERSK"
M.S.
JEPPESEN MAERSK"
June June 17
July
4
2
June 7
June - 10
June 29
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building,
Foreign Exchanges In NY
New Zealand South Africa
New York, MAY 2. US$1.01-11/10
Tel: Nos. 36060-9.
Mixed Day
In Chicago Grain Market
Graln
Chicago, May 27.
the futures Joined for commodities In a rare
featured by performance strength in soybeans encourage Partly by the steadiness in
cotton and vegetable oils. Wheat futures closed
to
were 11⁄2
closed.
today
Canadia England
oficial unomictal 30-day futures Do-day futurca Australia
Z.TOT!
2.60b10/3.43
asked
2.7016
3.231
7.30
279%
Belgium
01961
Datimaç
1435
France
0028-9/10
West Germany"
Holland
Italy
Norway
Portugal
Spain
Bweden
Awitzerland
Middle East
Egypt (pound) Iraq
Spot July
1.0512
Turkey
Latin America
Aeptember December March
Argentina
July...
2.00
proper basis-might well lead (Eastern) 122, (Western) 121. feet: Neither hulls for bears to Chat - tot much-desired increased These were retarded from volume
om apparently could make up their lume of production with benent resu
ere resuming their Industrial activity,
the situa- in Treasury receipts from em-
minds how to act the result that only a ton. Mr Butler
On this account, the market can, in fact, keep his
high
to responded
Asmall orders done in the locp cyn too firmly fixed on the wages comparative
percentage. Tha reverse is either way. unometal exchange marker this scale for industry in assessing the
In that applicable in the morning at the following rates- 6.53 clans of one industry for an
The Initial gains were attri- Kingdom's larger volume buted to paucity of offerings increase which might, and United 31.00 might not, precipitate claim is represented by two points only. which made prices responsive to
Both U.S. and U.K.
trade are *148 from other categories of hindered by rearmament, yet the what ordinarily would have been
volume of
of the United States a small amount of domestic mill
buying and short covering, production was
increased last
Some traders took a mixed year by the high index points of 10, Ave times that of the U.K. View of the crop picture.
The market closed today up 8 Increases of
woges to workers, the
the to off 2 points-United Press, high rates they enjoy in comparison with thost menting on the general merits of of their British the claim and of the increase, may account. 77 61% the current monthly letter of the
National City Bank of New York ages do, or
of contentment con ducive to a betterment of work- poses three questions: (a) How spirit well off is the steelworker.com- ing applicability, Germany and
workers
In other Japan are not yet, to any exient, (b) How has the
by rearmament." cutrammelled fured
In keeping
hence their progress. ace with wages pace
increases in
The Soviet bloc countries have other industries
"the для р
necessary to in cost of living?
and (C) what found it dustrialise, About
veering partly from profits and industry the ability, or inability, of the agriculture. Their industrialisa-aled
is, of course, mainly rearma- Government to establima pos- industry to absorb cost increases
ment. The pertinent Indices are: senger and cargo service be- without raising prices?
Hungary
130, Rumania 120, tween Manila and Mexico City. Vorezuola The letter then tabulates the that of the U.S.S.R. 116. What tions issued a statement toddy
Poland 124, Bulgaria 118, with The Ministry of Communica hourly earnings
saying negotiations will begin as from 1710 soon as the Philippine répre
Japanese bonds,
JAPANESE BONDS
London, May 27. (45. of 1890) "B" (45, of 1910) "C" (5s. of 1907) "D" (5s; pf 1934) "E" (45. of 1934) Consola
121
03
129
5634tries?
-United Prego,
Pacific Far East Live, Ive
Fast Regular Trans-Pacific Service
OVERLAND "NEW" YORK-CIRCAGO-DETROIT-TORONTO MONTREAL AND ALL. AMERI CĂN ♣ CANADIAN CITIES
Regular Servies direct or with transhipment
AMRCT BAN FRANCISCO, LOS ANGELES-
Guak, Maritian Islands, Micronesian Islands
Vertel
From
"WILLIAM LUCKENDACK”
Aquila
San Francisco
Arriver
June
June 10
"WILLJAN-LUCKENBACH”.
Singapore
·June 20
June 20
June 11
Jung.29
For
San Francisco & Los Angelce
via apid
Bingapore, Penang & Port
Bweltenham.””
San Francised & Los Angeles
via
la Kobe & Necoy
For full particulars call Unlied: Biatca Lines Co., General Agents, Queen's Ballding, Teli 28108.
#teelworker
EARNINGS PER HOUR
averago
in
n
for
or ought to,
Checo Aigures. Indicata is
that,
PAL Planning New Line To
Mexico City
Mexico City, May 28.
Iran
Bolivia The Philippince Airlines has Colombia
an application with the
selected major U, S. industries denied warris with sentatives are appointed.
fret mining war
in the fourth quarter of 1951; the workere in bituminous frend the list at $2,230 (1.o., par wa
other
Chile
Cube
Pent
Uruguay
***
Far East
India Pakistan Holigkong Indonatıl
Пірдарого
REN
Alr
Soeds And Oils
have had 110 The trans-Pacific air service.
In petroleum relining, recourse to develop their it approved will be the third
Industry
as own Industries with the same International caramercial ywhere, piptorial, result of having made agreement
reached is a ware there is
within four third atas sacen The United years than 'came
has the
month the Royal Dutels highest. The seelwarkeer
United Airlines · (KLM) was authorised blast furnaces, stool works and Polling mile, with 41.557, he the South African Reserve Holland and the Mexican capital. In February All Franca began latest quarterly! workers being Bank, In Its avorage for all $1.020, from which it would op bulletin, states: "The sharp in 21-hour flights between Mexico pear that workers in the steel crease in the pecuniary volume and Paris-United Press.
PIENTEARS Was $2.000,
Anh, that is, those working even the
higher gud epybring
to. 8% högaor.
Prices
follows:
Wheat price per bushel
Spot
July
September
December
March Coru
September
July
September
7012 New York flour-per 200 lb." Back. $12,50.-Valled Preis,
Pepper Market
New York, May 27. the absence of buying in-' 300-yan to ferest, the pepper market dove LISA
loped a softer undortand. with dealers indicating spot material από ок
-United Press.
& Pound
two cents lower of $1.30
Aina arrivals were
Mandi Nów York: Max 37. Prices in the seeds and oils at around 81,50 a pound. On
Flux Sad, per bushel,
the following exertion
Minneapolis, $3.03. Prezs
quoted at 41.20–31.97 Juna: led pound, all on an ex-dock ball, FOD. | $1,10-31.10. hnd July: $1:13, in
-United PreOK.