Page
THE CHINA MAIL FRIDAY, JULY 4, 1952.
MESSAGERIES Y MARITIMES A BOOM OR RECESSION?
MM Britain Faced With A Crucial Question
"BIRKONG" "GRENOBLE"
Arriving LeavİNE Outward For
-Joly 35 ́ July 23. – 2kpRE A
Aug. 26. Tuaps
.Aug. 21
Höinkward. För
• July 30
July 12 July 21 Aug. 10
LA MARSEILLAISE" July 11 +BIR HAKEIM” +MEKONG"
Marseilles via Baigon X. Atjies, 4. Euròhe N. 'Aldek Kuröps
• For Passenger and Freight. † freight for "Saigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangior, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterrancan ports via Marcilles and West Africa by Transhipment, Madagascar by transhipment in Saigon or Djibouti.
#abject to change Withous Notice,
CIE DES MÉSSAGERIES MARITIMES P.O. Box 68, Hongkong,
Queen's Building (gr. Boor)
EVERETT
́Tel. 28661 (8 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 Porta.
"NOREVERETT”
In Port
Loading
Sails July 4 for Singapore,, Penang, Rangoon & Calcutta.
"BRADEVERETT”
Arrives July 9 from Singapore. Sails July 10 for Japan.
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. "NORDSTJÉRNAN”
Loading July 24
'.
Sailing July 25 for Kobe & Yokohama.
EVERETT STEAMSHIP CORPORATION S/A Queen's, Building, Telephone 31206. Chinese Department: Telephono 28293.
FOREIGN EXCHANGES
IN N.Y.
Connda England-official
F
Australia
New York, July 3.
US$1.03%
unofficial
30-day futures D-day futures
New Zealand
South Africa,
Helgium
247 bid-
2.78
2.00 arked
2.70 22111
2.70
2.791
D1981
.1455
.0025.0/10
West Germany
4,20
2038
Italy
.0010
.1400
0770
Spain
.0305
.0954
Switzerland
2327
MIDDLE EAST
Tianco
Holland
Norway
Portugal
Sweden
Exypl
11201
114Q
Turkey
LATIN AMERICA
Argentika
3:5
sallyis
enit
Colombia
Cuba
*xico
l'eru
Uruguay Venckuela
'India'
Irklatan Jongkong Jrdonesia
9.ngapore.
FAR EAST
The Rubber Markets
Singapore, July 3. Prices of rubber futures closed today as follows-
Number 1 rubber, per lb.
August
September
October
B0%-15
Number 2 rubber, August 19-8331⁄2 Number 3 rubber, August · 81-5115 Number 4 rubber, August 704-774 Spot rubber, unbeled.. 6824-892
08-70 Blanke! crepe No. 1 pale crepe Lunited Press. 110-125
NEW YORK MÄRKET
New York, July 3.
Prices of rubber futures closed today 25 to 70 points lower with sales totalling 65 contracts. Prices closed as follows?—
September
October...
November
December
January (1053) February
March
2.79
April
6375
May
June
July
.0040
September
.0000
.0003
.4033
1,00
1158
00:36
3850
2009
300 yon to UsȚI
-Unlled Press.
NY Pepper Market
30.10
22084 nomina 20.30-28.31 27.30 nominal 21,70 nominal 27.10 nominal 2.10 avirai 20.30 bid 20.02erminal 25.75 bid
29.18 voninal
United Press
LONDON MARKET
Landon, July 3.. Prices of ruüber futures closed today as follows:- Number 1 rubber, in pence
Der ib.
August
September
October/December
| January/March
April/June
2322-2715 2014-27
....... 203-0
24 nom. -United ProSË,
Seeds And Oils
New York, July 3, Prices in the seeds and olla maricet closed, unchanged, with the following exceptions: The pepper market strengthen- Peanut oil, per b. F.O.B. ed today, reflecting higher Tables | York 1-10 cents Now
New York, July 3.
foi figli. Afloats were quot New York Peanut dil Vir ed at between, 21.03 and $1.00 6ginia, Medium, per 18. F.0.3 Latind, depending on steamers, shipping point 234-4 cents.
-United Press.
United. Press.
Stock Exchange For Talper
1
Tatpel, July 3.
The National autho- Hlies have approved a plan
in Taipei by the beginning
of next year.
S átoch bxchange is said to be necessary because of the need for free market- ing of the land bonds to be floated by the Nationalista In connection with the fand reform programme in 1983. -France Presse.
Japanese Aircraft Industry
Production Being Rosumed
Credit Restriction Policy
Making Itself Felt
(By Norman Crump)'
This is the crucial Is it boom or slums, netivity or recession? question before the country today, and it is possible to find evidence in support of either answer.
A year ago, the fiajor problein was that of a shortage of raw materials. Today many industrialists will say that their chief difficulty is a lack of markets for their produc
Where does the truth lie? In certain impor
tant respects, notably steel, the shortage of raw HONGKONG
materials persists.
This does not alter the fact that trado cohditions are chang
This is true of engineering and shipbuilding on both the Clyde and the Tyne. It is the tng, so rapidly that even recent
trade statistics and company i
chief causo of any overt of
unemployment
conécaled
Glasgow, and is also the sorts are out of date.
All
why several shipyards near castle have had to revise their order boo
books, so as to cut their commitments to their supplies of steel. this is evidenchin support of the theory that de- mand remains active. Tokyo, July 3.
On the othe
other hand, there is The Best Japanese-made the undoubted fact of the world plane since the end of the wide recession in textiles. Here
It is not only case of A war may come off the prooff in demand or the emergence
& falling duction lines as early as of new international competition
Of equal. Importance moy Be November, the influential
fact that manufacturers, economic daily, Nihon the Keizal, predicted today.
One Japanese company is en- Enged on the repair of Ameri can airliners while two others are ready to start production of light planes,
One of them is the Tokyo Air- craft.Company established early Just month with plans to con- struct light aircraft in Japan the with parts imported from United States.
Sir
Now, if ever, companies should Jesus to their shareholders frequent statements upon truding Richard results to dhte. Burbidge's wathing to Harrolds shareholders regarding present trading conditions" and dividend prospects for the current year gives a lead in this direction.
The real lesson may be that, manufacturers will have to work for the first time since the war, to get ortters in the home market,
as well as in the export markets.
This la
wholesalers, retallers and even they have not periente which
the ultimate consumers find that now that supplies are ample they can work with smaller stocks.
PRODUCTION & STOCKI This last fact' contains some elements of encouragement. So long as stocks are being reddeed all along the distribution line, current production is bound to shrink even more than corrent consumption.
|
had since 1939, and some of them MAY Teel Just as lost As a prisoner who regains his freedom after many years of confinement.
Once they come to prize their liberty, and learn how to use it, they will be all the better for it.:
But at the moment this sense of feeling lost in a strange world máy expinia some of the pessimism which 14 now ap-
On the other hand, once stocks parent.
their new and i The Autum may be a better have reached smaller dimensions, production period for trade than can be increased until it equals current indications suggest, consumption.
Thus there is some recovery at the manufacturing end of the trade, even if consumption does not improve.
There are signs that this thay be happening today. While unemployment remains serious in East Lancashire, more orders are being booked and some people hope that these are the precursors of a gradual improvė. ment.
SHARE MARKET
(From Our Coffespondent)
*TJPANAS"
· "TILUWAD”.
* "TJIWANGI"
STASMANS "TJIPONDUR”.
"TJTJALEN "RUTS"
July
July
July
July
I
""TJIKAMPEK"
July 27
ABE. 2
AÓK, 3.
Japan
Aur. D
App. 12
ABE. Aug. 10
Singapore Plakaita,
Aut. 20
Sept.
Sept.
Japan.. Singapore,
"BOISSEVÄIN"
*"EASTWÄYie
"TJTJALENGKA" ADS..
Bemarang
Page
FEROCEAN LINUS
ROYAL INTEROC
SALLING 8
Bapt.-7
Bept. P
Sept. 16
Sept. 25.
Oct. 2
“Blogspori, panag-elawan Dal
Djakarta. Tjinbon, Semarang,
(Narabala, da, furnishe
Japan (via Manlis)
Manila, Blakapote,
Samarank,
A Africa ·5, Ameries) Bingapore, E..4.3, Africa Bingapore, D】akkıtay,
Burabola 4 MICRONE Djakarta, Tilraben,
Rozabala & Macassar Singapore,, : Djakarta,
Barabain & Macauer
Semarang,
Singapore/Penatr^a Bulawan Dol
Manila, Singapore,
jay Mauritius,
1. Africa & 8. America
Djakarta. „N- Tjirebon, Semarang,
Burbála & Mathskag
'Bürkbila k Macassar
Singapore, Penang & Belawan) Dell
Jakarta,
Burabala à Atacassar,
Dakarta, Jirebon, Somara
Buradala de Macassar
MAI.. Bingapore, Mauritius,
B.. Africa & 3. America
Singapore, Djakarta,
Túrabkia & MACARA -Djakarta; 1~ Tirebon,
Burabala & Macassar
·Singapore, Djakarta,
Surabala & Machatar
'Semarang,'
Semarang,
Hematang,
Bianita, Singapore, Mauritius,
B. Aftlen & 4. America
ARRIVALS
Украд
Japan
From
H..America,. E. &B. Africa,
Maurhia & Singapore
JABET Jppan
Djakarta di Singapore
Bemarang. Surabala
"BODAS" "DANE"
"TULUWAN"
"YAN HEUTAZ” "STRAAT
MAKASSAR"" "THWANGI"
"TJIFONDOK"
"DOISERVAIN” "THLUWAI
"TJIKAMPEK"
"THWANGг“
"STRAAT
Oct. #
MAKASBAN”
"TARKAŃ" "TIPONDOR"
"THTHALENOKA“
"THLUWAII”
"TJIWANOM"
There was a pronounced spurt
| "RUYS" in the volume of business on TIPANAS” the Stock Exchange this mem- ing, the total being valued at $494,307,60. Noon quotations and the morning's transactions: RHARKS BUYERS SELLERS SALES BANKS
JK, Bank.
10 1373 199UTKANCES 1370 1305
Union .......
730
30 4 732) 30 73315 Underwriters 5.20 6.40 SHIPPING A Asda Nov.
K. Wharf
DOCKS, ETC
2500 @ 1.33
13
200 00
200 GT 30
N. Pt. Whart 5.00 Providen 10.40.10.50 B'opt Dock 1.30 Wheelock... 414
LAND, ETC.
100 8.70
500 RP 101
100 A 6112
IK Hotel.. 6.20 1⁄2 1000 @ 6,20 1 Land 4215 1X Land (1)
S'hal Land UTILITIES
1fon
75 € 3014
1.50 1.45
17,00
100
1000
2006
1000
many
P. Tran (0), Star Ferry
C. Light (0) 812 8.00-120 m
.300
1000
1000 40
C. Light (N) 55 Electric....to Telephone ..17.30
1000 y
Fears Of
Shipping Competition
The company is expected shortly to increase its capital to 200,000,000 yen from the present 25,000,000 yen and will have 40 per cent of the capital invest
nent borne by foreign investors. The Nihon Keizai said the company is negotiating with the Government for the purchase of the former Japanese naval air- held at Fujisawn near Tokyo,
The other company, which made helicopters ducing the
plans to construct two seater and four-seater, light pianes a cost of
of six and seven million yen, respectively, the paper added. These will appear
the United States, the
Taipei, July 3. on the market around Novem- National City Bank alludes with Strong prehension is dis- ber at the rate of 29 units per satisfaction to the reduction in played in Tulper shipping circles month, the paper predicted. soft goods between the mills and regarding Japanese competition
Meanwhile,
Mitsubishi the consumer, and says "this is when the new Japanese the net.
Vessels Heavy Industry Company is the way .all slumpt work
Will dead tunel ́uklóäd-in Talwari's under contract with North West themselves out."
harboura. Airlines for the repair of NWA
The
Taiwan vessels, 'which aircran on Far Eastern routes.
have bem reconditioned, with US atsistatico, will never pussota. the same advantages and the low freight cost of the newly-built and. fast Japitete besh-going vessels.
This the newspaper regards as the first step towards Mitsubishi's resumption of aircraft production, The Full Industry Company the former Nakajima aircraft factory which was Japan's number one warplane maker-it also preparing for resumption of plane production.-France-Presse
Cotton Prices
Close Higher
The
New York, July 3,
futures market cotton opened 5 points lower to 2 points higher. At the elost," the market was up 10 to 18 points...
to
Many dealers preferred lighten their commitments before the long holiday week-end.
The textilo cotton
goods market was quiet today as the selling houses closed their doors around noon for the long holiday.
Prices closed today follows:-
Spot July
bs
In
DISTURBING FACT Nevertheless, it would be wrong to say that the cation in dustry is out of the wood.
One disturbing fact is that, apait from food, there has beéri La sévère décline in retail, trdaé
all over the country.
|
There are various possible ék- plantations, including the rise in food prices and the decline household incones, due to the cessation of overtline, the growth of short time and sporadic no doubt, also been affected by credit restle | tion, including the cuts in Hite purchase, and the Woakess, of Stock Exchange prices. All this has a cumulative effect, not only
un hin
on
textiles but on the whole range of consumer goodi.
■' BROAD CONCLUSIONS Thus the initial question, boom
tar
Moreover, there is a strong Inclination on the part of Tal- una traders to utilise Japanése ships.
INDUSTRIALS
期 Port
July
July
7
July 7
.. July
July 12
10
July
#
Macassar,
Jijakarta.
Macassar
Surabala.
Sematant
Semara
Babiarang.
MAERSK LINE
FAST FORTNIGHTLY SERVICE - TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vio SAN FRANCISCO, LOS ANGELES- AND PANAMA.
NEXT SAILINGS
M.S.
"GRETE MAERSK".
July G
MLS.
"OLGA MAERSK"-
July 16
M.S.
JEPPESEN MAERSK”
July 30
17.30
ARRIVALS FROM U.S.A.
Daily 17.30 3719.
Watson
M.S. "HULDA "MAERSK"
July 20
M.S. "TREIN MAERSK”
Aug. 5
M.S. "PETER MAERSK”.
Aug...10
Cement (10.2013.05
Fobie STORES, ETC.
COTTONS.
Ewoi
Grain Prices
July
In Chicago
Chlesgo, July 3 Prices of grath' hiturès closed, today as followe On account of this danger, wheat-Price per bushel which may striously affect Spo Nationalist Chinese shipping, september merchants are asking the December Nationalist authorities to jako March
"new
regulation providing carn that two-thirds of Talwan's ex- Spol July ports be carried by Chinese September vessaly,
May
December
Such a regulation, however, Bareil is considered as highly Im- probable in circles close to the Juty Nationaliste France- Presse,
September Qata July September
Lity
New York Zour--ger, 200, 1b, Sack.
or slump, 50 Temains JAPANESE BONDS 20 hominal. United, Prew,
dne
can
unanswered. Vit draw a few brond, conclusions.
The nest. is that the Govern- mont's polley of credit restriction and dearer money has had its effect much more rapidly than might have been expected.
40.00 40.00 30.05-36.97
The fall in bankers' advances, 80.43-30.10 particularly in those described 54.57
15 "personal and professional," is 30.30 33.95
one proof of that. Most people 34.43 blá
today can find other prodfà för 34.30 bid themselves. United. PreSJ,
October
December
March (1953).
May
July
October
December
NEW ORLEANS MARKET
Spot July
39.50
30.00
October
30.00
December
30.00
March (1059)
30.30
May
October
July
December
30.30 bid
33.63
$34,40
34.20 bid United Press.
LONDON TIN MARKET
London, July 3, The tin market was 'quiet this morning with a turnover of lohs, all for forward positions. Prices closed at the end of the offcial morning sesslor
- follows?——
00911⁄2
P70 S
Spot tin, buyers Spot tin, seilere Business done at Three-months tin, truyere .. sudjá Three-mantha tin, millers .... Business done st Settlement
970
907
United Press,
Copra Quotation The New York,, July 3,
Copra was quited tony, at $142.69 për short 10h, nominal Cocoanut oll was sold at 11 cents'a pound.-United Proza,
This means that the four per cent,
Bank rate is doing its job, and, unless it is absolutely necessary for the protection of sterling, it is dimcult to see any case for an increase between now and the Autumn,
Indeed, I dealton Becoine's the dominant note in our trade position, à decrease rather han an increase may boiné to be needed.
Trade.
01
الم
"TYPICAL PATTERŃ Another conclusion is that both here and In the United States the prevailing activity in all the industries
tė- needed for armament, is
a down- ward swing. cyckum Pods industries.
„thứ In America It is beginning to look, as if the consumer-goods. curvo 15 already turning upwards. It is doubtful if Great Britain ns, a whole has yet reached that point, but to judge from a very. West Riding recent report, the woal-textile
extile Industry believe that It has done 20.
It follows that Mr. J. Ronero was right when he lolu imperișt Chemical Industries shareholders that current trade indjestigits did not foreshadow a general de pression.
London, July 3. Japanese bonds,
"A" (49, of 18no) "B" (45, of 1910)
(45. of 1907) "p" (5), of 1994)
(529, of 1994). Consols
Exchange Rates
Business was done In the locI undificial exchange market
Kila
:81
07
120
22
193.
Inconcilu guitders (per 100)*
morning at the following rates U.S. Höller (ger $13. Sterling noto (ver £11
10.00
35%
Biem tiesti (per 100)
31.00
Singapura, (Birnita) -
United Press.
FIC plastres (per 100)
For Freight and Further Particulars please apply to:---
AGENTS:
JEBSEN & CO.
Fedder Building.
THE
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MAP
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CALCUTTA
A
"THE TRADE ROUTE OF THE ORIENT
@DARGKOK
TAIPEI
OKINAWA
Sunday Post-Herald, and
China Mail Staff Photo- traphera ara on view in the Moming Post Building.
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