THE CHINA MAIL, WEDNESDAY, JUNE 11, 1952.
MESSAGERIES MARITIMES OUTLOOK FOR AMERICA ROYAL
ROYAL INTEROCEAN
M
"KIR HAKEIM”
*"LA MARSEILLAISE”
"MEKONG"
+"MONKAY"
Arriving
Leaving
Jung 36 „July
Jan 24 June 30
July
10 July 10
Tome 20
July
**LA MANSEILLAISE” „July 11 July 12
BIR HAKELM”
July 20 1 ANK
""MEKONG"
Jul 24 Ang. 20
For Passenger and Freight.
M
Outward For
Вирад
Kobu & Yokohama Japan
Minuleward For
N. Attica & Euroas
Marseilles via Sigua
N. Africa & Europe N. Africa & Eurupa
t freight for Saigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterranean purtu via Marseilles.
Madagascar by transhipment in Saigon or Djibouti,
Subject to Change Without Nolice.
CIE DES MESSAGERIES
MARITIMES
P.O. Box 53, Hongkong
Queen's Building (gr. floor)
EVERETT
Tel. 26061 (3 lines).
LINES
EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space avaliable for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya, Burma and East Coast Indian Ports.
"LENEVERETT"
Arrives June 23 from Singapore. Sails June 24 for Japan.
"NOREVERETT"
Arrives June 30 from Manila.
Sails July 1 for Singapore, Penang, Rangoon & Calcutta.
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 Porta
FIRST CLASS PASSENGER ACCOMMODATION
M.S. "STAR BETELGEUSE"
Loading June 21
Sailing June 25 for Singapore, Madras, Colombo, Bombay, Basrah &
Karachi, Bahrein.
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206. Chinese Department: Telephano 28293.
BELL ACT REVISION DISCUSSION
Manila, June 10.
A 15-man committee on the revision of the 1946 Bell Trade Act between the Philippines and the United States will presa for selective free trade und will not consider extension of the pre- free trade arrangement, according to the committee'r Andres executive secretary, Castillo, today. Meanwhile,
The Rubber
Markets
Singapore, June 10. Prices of rubber futures closed today as follows:--
Number 1 rubber, per 15.
July
August September
Number 2 rubber, July Number 3 rubber, July Number 4 rubber, July 2 Spot rubber, unbaled Blanket crepe
No,
8415-** 022-22
0114-3 7732-7022 74-70 144
101-103 i onie erone
United Presi LONDON MARKET
London, June 10. Prices of rubber futures closed today as foliuws-— Opposition Number 1 rubber, in pence Nacionalista Representative per lb.
2474-2515 25 -2313 Dahidi 2. Romualdez attacked July the
announced
stand
of
Auber
October/December January/March
opposition Senator Gil Puyat and July/September Administration Liberal Repr Bentative Cipriano Allas wha favoured a 10-year extension of the present trade relations with the United States.
Το
be discussed at public hearings
Thursday and Friday are general classifications of items which will be included in the Free import list, such as rubber and manufactures, olla, non-mótpille minciais, anch electrical
and
materialo
oppliances.France-Presse,
Pepper Market
In New York
New York, Junė 10.
The pepper market, rulca quilt with buyers holding off awaiting developments in the primary market.
237-23 2240-2414 2316-22 United Press.
NEW YORK MARKET
New York, June 10. Prices of rubber futures closed today 65 to 80 points higher with sales totalling US contracts. The market closed active and fem.
September October November December January February March April May
Juna July
August
23.57 55.14 nominál
27.40 nomblat
-
25.63 mönsinal
No Serious Recession In
In Next Two Years
Decline In U.S. Trade
Washington, June 30.
United States exporta and Imports tell during April, the Census Bureau reported today.
Experts from the United States fall from 91,417,000, 000 In March to $1,331,- 000,000 in April.
000
Imports decreased from 5932,000, 8903,000,000 to
April exports were about six per cent higher. than the average monthly exports in 1951. Imports were near the 1951 month- ly averace. - United Press,
Lisbon's Plan For Colonies
Lisbon, June 10.
to
But
Some Slackening Off In Business Expected
Washington, June 3.
Government economists, who have recently been exchanging views on long-term prospects, find themselves in pretty general agreement in forecasting that there will be no big depression or even serious recession with intolerable unemploy- ment in 1953 and 1954.
A slackening of business from present peak levels is anticipated, however, with economic activity continuing at a high level, but in 1953 not as favourable as this year, and in 1954 not as good as in 1953.
Unemployment, now at about 1,800,000, may possibly rise to as much as 4m. or 5m. by 1954 or 1955 about the same as or a little more than during the reces- sion of early 1949, according to the economists.
Those predictions, it must be sinted at once, are conditioned th iwo basic assumptions, either or both of which could bo false.
The Birst is that there will be no radical change, either milltary pr. psychological. the present course of foreign affairs,
In
· Development projects are being blueprinted here exploit strategic and pro- tional defence programme
The recond at the na- wil duction potentials of Portu- be carried cut more or less as gucee Africa, an "unknown it is now planned, with expen- at about country" of more than dilures 800,000 square miles and $55.000m. to 360.000m, annual
fy in 1953 and 1954. 10,000,000 people.
DEPRESSING FACTOR
The chief Portuguesa colonies
1
Tunning
of Angola and Muzambique. There are many other uncer- rich in farm land and minerals, tainties cloud the outlook,
attracting atten- and the dra currently
forecasts are neces- lion both from United States
sarily speculative. But, from Mutual Security
Administra- The faci at present avaliable,
tion officials and from indepen-top level Federal officials con- dent financial experts.
cerned witth the Cconomic
One
key to new colonial | scene see the general picture development is considered here as set out below.
HONGKONG SHARE MARKET
Co-
"TJINEKÍLNG"
TJIBODAS"
"TJILUWAN" "EASTWAT
SAILINGS
Jane 13
Juno IG
LINES
skah-ni-Udang, khabere, E.
Afle Dfakarta,
Tjitoben.
Buzabala & REACHERST
Djškaria.
Semarang,
Semarang,
Hingapore, l'endon, Port, Kwelteńhdirs
eltwil Det
Kingapore, Penang & nolawan
Jakarta,
Tilrebon,
8. Abilen 4 "8.. America
Bingapore, DJAMILA, Bemarang,
Sematady,
Bingapuro,
"Burabile de Macassar
June 20
TASMAN "EJIWANGI"
Jóná
July
Kingniore
Beli BATANE.
"Nurabals & Macassar
“TJIPONDOK"
July
Djakarta,
Semarang.
sutaðlia & Macasse
JITIALENG
Japan
JIPANAS"
July
Dianita,
Bingapore,
I'cuans
S. Africa
Jus
9
Bingapore,
Madritius
"TJLUWAR"
"TIRAMPER" JAWANOI
July 10
July
Aug.
Bürabula & "Macassar
Djaltarta,
ANE.
0.
∙A. 17 Aug. 10 Aug, 21
Bept,
Sept.
Sept. ·
Sept. 16 Bept, 25
Oct.
2
"EASTWAY" "TJITJALENGKA" Aur
TODAS
*THLUWAR*
"TASMAN"
TJIWANG” (From Our Correspondent)
"TJIPONDOR" Slightly moro active ditions prevailed on the Stock
-"DOISSEVAIN" Exchange this morning, with "THLUWAII" total business valued at $922, TIKAMPEK” 705, Noon quotations and the
morning's transactions:- SHARES NUVERS SELLERS SALES
MANKS
x Bank ... 1305 East Asia ... 141
so bad, because there are many "liberalising." stimulating acts which the Government la in u INSURANCES
position to take.
Burebala & Macaskar
#ingapore, Újakarta, Bemarank
Burabain & "BACALAN
Singapore, Panang Delawas Bell
Sung:5010. Mauritius
8. Africa & 6. Amèrica. Djakarta, Titebon.
surabala & Macismy
Singapore, DJikaita,
Bemarang.
Surakāla & MACASSAY Singapore, Petráng, & Belawan bel Singapore, DOJAMBIES, Bemustang
Gurabola & Blacklear
Djalcaria, Titebon, . Komating.
Burakala Macassar
Manika, Singapore. Mauritius
8. Africa & 8. America
Bingapore, DJaunrta, Semarang
Surabala, & Macassar
Djakarta, TJirebon,
Burabala a Macassar
Semarang,
Singapore, Djakarta, Semarang,
Surnbala & flacassar
ARRIVALS
12 Jung Jane 13
June 19 June
Japab
Macassar
Froin
Barabala,.. Bemarang,
Djakarta & Bingapore
Japan
Airica, Mauritius singapore
General Agents.
HOLLAND EAST ASIA LINE
"TRANGI"
Union.... 70246 73746 178 735 20 bg 735 Underwriters ·
0.04
1% 1.00
70%
· “THIBODÁS" "THLUWAI”
"EASTWAY" "TJPANAS"
LOWER TAX RATES Among these, a blg "made work publle works programme SHIPPING immediately comes to mind,
Asha Nav DOCKS, ETC. K. Wharf
N. P. Whatİ 5.65-
Dack ...... 16.10 Provident...10.20.. 1000
But it is by no means cer- Zain that such a step will be nicessary. 'The silmulating effect of lower tax rates and of relaxation of the Gover- ment's tight money and credit Pulicy might well be potent LAND, ETC. enough forces in themselves to prevent anything like a heavy recession.
NY Cotton Closes On Easy Note
New York, June 10.
to be the Portuguese Govern-
Next year many divergent ment Bill to permit foreign banking houses
and fresh trends will be at work, point- Ing in total to fairly high colonies.
Cotton prices closed today on Anancial blood into the
al- a note of casiness after swaying Recent MSA reports have level of business activity,
the underscored both
though not as strong as it pre-feverishly over a range of arcuni strategic
$1.25 a bale. and
economie Importance of cent. Angola and Mozambique.
Spread 1,000 miles along both of South Central Africa, the natural harbours of the two colonies are gateways to the Wealth of Interior Africa, especially for the mineral de-
Coasts
posts of Rhodesia, The
The Belgian Congo and the Transvaal of South Africa. For years the east coast port of Lourenco Mar- ques, Mozambique, third largest port in wouthern Africa, has been the outlet of Transvaal coal.
UNTAPPED WEALTH
Diamond
mining has tucrative in Angola,
Dealers were scared of getting
too far out on either side of the
fac!- market.
The very high post-war ex- penditures by business for capi- tal equipment-plant and Ulles are no lchger expanding! and, in fact, are due to tract. This is the chiot pressing factor,
The collapse of the steel strike con-settlement negotiations and Pre- desident Truman's request for steel seizure legislation injected new uncertainty.
some
If
not
HIC Hotel...
40
Wheelock.... #2 4215 10
6.10 6.80 2000
10.70 10.030 42
100 42%
0.70
SAILING TO EUROPE
"BLITAN"
July
"ALMKERK"
Aug.
ARENDAKERS"
Het
IK Land..
"KIELDRECHT"
Uct.
(13)
(ts)
15
100 &
SAILING FROM EUROPE
Saite Rotterdam
Atrives Hangkon
10.20
"ALMKERIC"
Trum ******* Star Ferry
10 1300 10
"AKENDSKERK"
Spiled May
le
July.
"KIXLBRECHT”
AUK.
04
8.40 1.35
"RIDDERKERK"
Hent.
1000 @ 0.35
Urt.
Humphreys
UTILITIES
C Light (0)
Light (N) 3.25 3.570 Electric
Telephone
INDUSTRIALS
ment
Ropa
STOLES, ETC.
Dairy
nd er d
21.30 22.40 890 a 21.30 100 or 21 40 28.40
24
17,50
13.30 103. 20 Cho t
Watson...... 21.06
2100 18.40
Sharp Wave Of Selling In NY
New York, June 10. Prices on the stock exchange declined with losses ranging to more than a point in moderately active trading.
sections were included la the sell-bff which was considered
to all of the not wartled,
fron fair to mostly good. ---
The market opened up
that the market j
@ points. After mid-day, prices overdue.for a correction in vici fluctuated irregularly but favour of the recent upsurge. ed the downside, closing almost President Truman's request for on the lows and off two to 22 steel selzurd legislation had little points net on the day.
effect on the market.
37.23-37.24
Prices closed today us fellows! Spol
4155 July
40.10 October December Dorch May Jul
October
2623 oral 34.71 nominat -United Pyran.
ORLEANS MARKET
40.00 4020-532
37.20-37.22 20.01
Rails bore the bht of the zell-ulfs
with losses ranging over point.
a
Some steels were down.
A few oil specialties registered
wido declines.
Chemicals were irregular. Aircraft makers were slightly
higher,
Dealings totalled
glares.
1,220,000
or 1,002 issues traded.
NEW PLANT
The caution increased among Nevertheless, the rate of in-perators who thought that the vestment for new plant and recent sharp advance made prizes
still be at a
vulnerable for the time being. equipment will
Despite spurts of activity in the high level, even though not as
textile market, dealers felt that high as in the last few years.
Many industries have from the overall picture in the cloth commitments
has
improved for Jong-term market
materially. capital exponsion programmes.
The Government weekly All For example, a great expan-
weather and crop summary ald Although the predominantly sen
slen programme is scheduled in
the condition of the crep ranges the chorpest over two months, native. population mostly... farm the electric utility industry, to general and cotton crops over be carried out over the next the vast emply grass and wood-five years. The chemical in- lands of the colonies, there are dustry, also. has broad expan- believed to be huge untapped sion plans, particularly for new sources of mineral
wealth, products in the synthetic, plas
teen tie. antibiotic, and
petroleum chemical flelds. Emigration la the colonics These are all Teng term and from crowded metropolitan provide a good base fer Portugal has been steady, but is capital expenditures for
10 increase expected
In the tune. wake of further development.
spending Similarly, defence Medical and agricultural ex- to scheduled to be maintained
say that anany areas ore throughout the year. Even peris Sa
NEW the limit set by the House of suitable for white settlement,
Spot Unlike those African coloales Representatives on defence ex-
July disrupted by
nation-penditures violent
Q celling
Ocluber allem, Portugal's syslem ΟΙ $40,000m. for the next Ascul
Becember March pr years retained by the Senate, humane colonisation has served peace among the native the rate will still be high with out There is no racial the addition of Federal
lays for the atomic cacrgy pro great lack has been
and stockpiling. cramme modern communications,
but
In the Grea of
consumer improvements are being made. spending, demand may.com.
telegraph and
glück, telephone ປnte as it is now, for the goods such as cars and house- mmunications both in colonies and to Lisbon have hold appliances. But demand is been established. Railways and brick; and is likely to be main- and highways are being improved tained, for food, clothing
sarviter while for housing it 19 and extended.
indeed: And although still in their very vigorous
Washington, June 10. The cutlook for 1054 do con- economic. infancy, the colonics
The diliated by
the
Department of Agricul- much
kama have
substantiat contributed
elements.
lure says that world sugar pro- wealth to Portugal already
The drop in business invest-duction will reach a new high through the export of primary
ment will continue to have. record with the production of JAPANESE BONDS products to shortage-ridden depressing effect, and there chalrifugal Canis boot industrial countries, United
also the probability that the estimated at 38,200,000 short Press,
anticipation of falling defence tons in 1931-02. Office
Foreign expenditure in the future will
Agricultural Relations cald, the emphasise the down-swing.
indicated world production of AN "ADJUSTMENT-
non-centrifugal sugar Increased Consta
6,200,000 short tomb In. 1951- Economists
therefore, sce, whit they choose id enil "adjustment," but not a
de pression.
ppction in the colorles
The
New York Sugar Futures
New York, June 10. World sigur futures closed feday 1 to 6 lower with sales totaling 100 contracts,
TITI
May July October
.30,04 bid
20.09
0022 hid
34.30 bid
United Preis,
World Sugar
..
Record.
of
sugar
52 from 0,100,000 tons tho pré- vious year.
It baid, "The world oentrifu-
the edge sugar production is
21.21
5.63 bld"
28,43
2.12
25,80
25.40
-United Press).
“Contract Nó, 4 world July
4.04
September
4.09
November Spot
4.03
Contract No, U'
·
alace (zimort 50
July
11.00
....
September. November.
00-0.01
Now, in terme. Per cent more production by:
0.03, bld
ho
-Unlied Press,
LONDON TIN MARKET
London, June 10 With Indian quottohy renerel- Priced of til Were steady is lyon garity with the morting Turnover was 18 tons, inoritet, dealers felt Including live tons for cash. that changes there would be Prices closed at the end of the quickly reflected in the local ofielut inofili benston market. Dealers quoted abot follows:-
domcsile
pepper. nominally at $1.52 a Spot tin, buyers pound, while afloats were from put in, gellers
Fusiness eng ab depending on Three-tuantur, thy busiërs
Shipment Three-months Ln, Eellats
Bunes dona at donerally
un Bettlement
ion.
$140 to steamer pricea Were changed.—United Press}}
Prem
as
dca
The
gol As sustaining factors in situation, they cite a steadily estimated how to total 24,100,000 destens in 1951-52, an increase or growing population; the Continets No. 6 closed to manda
and local 10.8 per cent over the 21,000,- of State follows:-
moro Bir 000 tons of fost season. government for
public works, such as relidolo, high 1051-52 production exceeds the ways drid sewers; the need for year averages for 1945-49 and replacement
'મ thonnous
the
1839438 by 31.3 and 40:0 per cent respectively, clock of capital equipment
"Cuba along has increased
1,000,000 of plant facilities and machines, than and the production That at the end of World War II); is 800,000 tons greater than and the need of consumers to that of last year" _The_esti-
durable replace
mated Philippines.production purchased this yder and adituros Presa
1a 1,000,000 Igns. - United
Copra Quotation
New York, June 10, Copra was quofed today at 970 $140.00 per short ton, nominal
Cocoamit oll was quoted at 10 cinta per pound, asked, follow. ing salos at 4 cents a pound. -United
Proga
The decline in:
or capital goods may produce { for:
a sizable deurco of unemploy- mens in particuler arzan ond industries, with a total of per- hapa shy,
"IILITAR
Nov.
MAERSK LINE
FAST FORTNIGHTLY SERVICH TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPINA VIS SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
ARRIVALS FROM U.S.A.
M.S. "LEISE
MAERSK"
M.S.
"GRETE MAERSK”
M.S.
"OLGA MAERSK”
M.S.
“OLGA MAERSK”
MS.
M.S. "HULDA MAERSK"
AGENTS:
"JEPPESEN MÄERSK"
June 17
July
in e
July 18
June 18
Jate 29
July 17
For Freight and Farther Particulars please apply to:-
JEBSEN & CO.
Pedder Building.
304 advanced, 134 declined and PETER MOK
254, were
Trees,
unchanged.--United
Exchange Rates
Busthers was done in the Ideal unofficial, exeliange
market norring at the following rains:~. U.9. dollat (per $1)
this
Sterling nate (pez £1) Indonesia
Stam leaders (per 100)
(per 100) Singapore (Hiraits) FIC plastres (per 100)
London, Jung 10. Japanese bonds "A" (45. of 1809) 7774
"D" (4%. 6: 1010101 """ (5%, of)007) 2201 "D" (68..ot 1034)
"E" 1835, of 1934) 120.
HIM YICK HONG
MACAO
MANUFACTURERS' REPRESENTATIVE
Agent for AUSTIN CARS
M.V. LEE HONG
China Mail Distributor.
83 RUA V.P. ARCOS' TEL. 085 Cables: Peter Macao Agencies invited
Tel: Nos. 36066-9.
:
PRESS PHOTOGRAPHS
Copios of photographs taken by the South China
Morning Poit, South China Sunday Post-Herald, and
China Mail Staff Photő- glaphamaro. ch view to the Morning Post Building..
ORDERS BOOKED
Pacific For East Line Inc.
Fast Regular Trans-Pacific Service
BAN FRANCISCO, LOS ANGELES
DIRECT
tons
Wool Prices Firm
Sydney, June 10, Values at the Newcastle, wool But the codicnsus of opinion, eles todo el firmant worso Sydney's closing. rates last Is that it will not be than this, and may not be ovoh | wyeck-Associated Presb.
VERLANIE
NEI YORK-CHICAGO-DETRÄTT TÖRÖNTð / BIONTREAL AND ALL AMERILAN & CANADIAN CITIES
Guam, Maritas Islands, Aeronbitah Isländi — Regular Service direct or with trackshipmins
Vedet
KITAWAII BEAR"
"WILLIJA LUCHENDATU”
"WILLIAM LUCKENDADITY
Avelyek
June, 11
June 17
June
Jube 12
Jungle
*June 201
San Franchen & Los Ahjolaà
evin dapan.
Blogspore, Penang & Pott
'-, Nwotterham
Bart Tranelreo & Los Angélés
via Kebo & Nagoya
For full partionisry call United States Ilver Co., Ocnomal-Agenta, Queen's Muilding, Teli 28104