MESSAGERIES
MARITIMES
MOM
"GRENOBLE**
"FALAISE"
+"MEKONG"
Arriving Leaving
Sr. 21 Rept.
.Sept. 1G Rept. 21
]Keelun= Aug. 10 Aug. 11-1
13 Aug. 12 "Hongkong AUF. **FELIX ROUSSEL” .... Aug. 18 Aug. 1 П "COURSEULLES" .....Sept. 8
For passenger and freight.
Hept
Ontward FOR
Europe Europe
Homeward For
N.
Africa & Europe Marseilles vis Manila N. Africa & Europe
For freight to Saigon, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam,
Accepting cargo:
-vla Marseilles to all Mediterranean & West Africa Porta. -via Djibouti to Madagascar,
Bubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong
Queen's Building (gr. floor)
EVERETT
Tel. 26651 (3 lines).
LINES
EVERETT ORIENT LINE
Fast cargo and passengers servico refrigeration space available for Korea, Japan, China, ` Philippines, Indo-China, Slam, Malaya, Burma and East Coast Indian Ports,
"LENEVERETT”
In Port Londing
Sails July 80 for
"REBEVERETT”
Port Penang, Calcutta.
Singapore,
Swettenham, Rangoon
20
Arrives Aug. 8 from Singapore. Sails
Aug.
9 for Japan.
(Accepting cargo for transhipment Kabe/Pusan and Kobe/Okinawa)`
EVERETT STAR LINE
Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Slam, Malaya, Ceylon, West Const Indian and Persian Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR ALCYONE”
Arrives Aug. from Kakinada,
Sails Aug. 6 for
M.S. "THAI”
Kobe, Yokohama..
Osaka
&
Arrives Aug. 9 from Philippines. Sails Aug. 10 for Kobe and Yokohama,
(Accepting cargo for transhipment Kobe/Fusan and Kobe/Okinawa)
EVERETT STEAMship corporatION S/A Queen's Buliding, Telephono 31206.-
.' Chinese Department: Telephone 28293.
FOREIGN
EXCHANGES
Canada England
IN N.Y.
Australia
US$1.039
New York, July 28.
clai unofficial
30-day futures -day futures
Nez Zealand South Africa
Denmark
Norway
Portugal
Sprin
Sweden
237 blck!
2.60 asked
Strong Advances
In Cotton
New York, July 28. Cotton futures today climbed nearly $4 a bale in one of the most active sessions of recent weeks.
New York futures opened a modest to 1 points higher
then and
began to climb steadily, closing 65 to 75 points
THE CHINA MAIL, TUESDAY, JULY 20, 1952.
Lowering Of
US Tariffs A Necessity
Hamilton, N.Y., July 28.
The Under-Secretary of Stale, Willard Thorp, fo- day declared that – the economic health of the United States demanded a lowering of customis bat riers.
Speaking to students of
M Colgate University Thorp sald that should the United States spend two per cent of its hallonal In- come to Import foreign pro- duels and technicians, this would make it more certala that the United States the wonld
be refunded kams fent to foreign coun-
Mr Thorp added that it was not true that American ald to foreign countries was endangering the Unii- zil States economy.
Not withstanding the millions of dollars #iven abroad since World War II, the American economy WEB ALSTE developing-France- Presse.
Japan And Sterling
Area Trade
TOKYO DESIRES
INCREASE:
Paro
In American ROYAL INTEROCEAN Lives
Change Procurement Policy:
Trade Liberalisation
FERRANTI. ORDER'S SIGNIFICANCE
Washington, July 19.
The contract awarded last week to Ferranti Electric Inc., a sub- sidiary of Ferranti, of Britain, for over $1m. worth of electrical equip- ment from Britain for a dam project in North Dakota, is believed to bo the first acceptance of a foreign bid in recent years by the Army authorities.
It reflects a new effort by the United States Defence Department to bring its procurement policy into harmony with the objectives of American foreign policy.
The new philosophy is embodied in two memoranda. The first, issued last May by the Munitions Board, provided that whenever a foreign bid on a Defence Department contract is low and the contract amounts to $25,000 or more, the malter must be brought to the Army, Navy, or Air Force Secretary for decision.
The previous policy, provided | has been utterly antithetical to Administration's foreign that such reference should be the
ver,
now Pentagon
Is certainly
made only when the difference policy objectives. between the lowest American and It would be inaccurate to the low foreign bid was at least ascribe the Ferranti · decision $5,000.
In practice, however, entirely to a the Pentagon, like all other policy, but it Government agencies, tended to consistent with it.
The case had been watched as foreign bids unless ignore all they were at least 25 per cent a crucial test as eagerly here as below the lowest American bid. in Britain. Though the Pentagon
The
denies it and memorandum, dent
the second
Army issued last month by the Under- Secretary, Mr Frank Pace, insists Secretary of Defence, Mr William that the decision represents no new polley-any other public C. Foster, provides that, upon such reference being made, the three comment would bring American Service Secretaries or the chair industry down about Mr Pace's man of the Munitions Board shall head-the fact is that heavy was brought by the consider the U.S. bids and those pressure
countries State Department and the Mutual from friendly foreign "on a common basis," subject to Security Agency for a concerted several important reservations.
Tokyo, July 28. Japan has decided to in- crease her imports from the Sterling Area and is ex- pected to ask for relaxation of the Sterling Area restric.....Wi
entry of tions against Japanese goods, Press re- ports said.
Jill Press sald' the Supreme Economic Advisory Council will request the Finance Ministry to
de implement a programme signed to increase two-way trade between Japan and the Sterling
Area
Japan also proposers Increased loans to private truding firms of to finance-the importation goods from the Sterling Area.
The principal objective behing the moves is to reduce or ilqut- date Japan's large accumulation of Sterling credits,
ol
Fatca.
Government organs will advo- cate that trade with the Sterling Arta be conducted on the basis prevailing exchango the The Foreign Office, Finance
the and Ministry
Foreign Exchange Control Commission had a meeting on Friday and dis- cussed abolition of Article Two the Anglo-Japanese Overall Payment Agreement,
af
trade
This provider that in between Japan and the Sterling Area the British and American cross-rate for dollars and Pounds be respected.
If this is impossible then the prevailing exchange rates could be used.
The current overall paymentə agreement between Japan and the Sterling Area comes up to: end of re-negotiation at the August-United Press,
TECHNICAL AID
Tokyo, July 28. Japanese soda manufacturers are to help Burma and Indonesia DEL up soda manufacturing plants in those countries.
The two countries had asked for technical ald and Japan responded by sending experts to the conduct investigations on
spot,
The economic daily, Nihon Kelzal, said today that the Asahi Glass Company,
the foremost
น glass manufacturer in Japan, awaiting the return of its three had been representatives who
"
effort to liberalise American trade policy.
The purpose, Mr Foster wrote,
TARIFF ANOMALIES "is to assure that the proposed awards..
....will be evaluated in Signs of such an effort have such
become increasingly evident in clue manner as to give
the last six months. Credit for weight to the objectives of the
bringing into focus the absurd mutual security programme."
ilso reservations situation where the U.S. is momentarily aside, the effect of urging aid beneficiaries to close the two directives is to nullify the dollar gap and at the same that by of the "Buy time preventing Just
clauses defence tariffs, escape" Americon
This is possible "Buy American" law, the 50-50 procurement. under emergency powers which shipping clause and a dozen other President Truman exercised last inconsistencies, belongs in some February in an. Executive Order part to the Italians. saying that the Pentagon could stripping alde memoire early this walve such legislation.
year set the newspapers talking and bureaucrats thinking.
the
Act
In
In the
Their most-
I
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business dono on the Stock Exchange this morning amount.. ed to $338,185. Noon quotations and the morning's transactions:- BITARES DUYERS BELLERS BALES
BANKS
East Asia... 11 INSURANCES
Uajon
IK Fire... SHIPPING
Arte Nav.
US 750
134
1,05
DOCKS, ETC..
64
0.00
18
11.00 19.10
1.00
1500
H. Whart
N. Pt. Whart
Dod
ProVent
S'hal Dock..
Wheelock LAND, ETC.
HK Hotel
4242300
75C Band (0) 445
GK Land (N)
0.70
Shai Land 1.40 131 Humphreys . UTILATIES
Team
P. Tram
P Tram
Star Ferr
C. Light
1040/19.30
8A
€ 8888
17
500
a95838
FIRST ACTIONS
The Paley Report made The memoranda issued by the Munitions Board and Mr Foster devastating analysis of the exist represent the first actions by the Ing anomaly and agitation evar. Defence Department to im- the pending Tariff Commission
Telephone escape clause cases helped to plement Mr Truman's directive.
INDUSTRIALS' American" Act, de- keep the issue in the public eye. The "Buy
Mr Trumar
called last week
Cement 2, 47:1017.36 1000 # 11:50 scribed by the Paley Report
100 & 11.10 Advisory the President's on the M.S.A. Public (Issued by
STORES, ETC. Board I to undertake a
Dairy.... a study of the
18.70 Commission) Materials Policy
entire
Wation trade policy with of depression
American relle
the idea of obtaining the psychology, provides that maximum publicity and the American bidder must get any broadest public discussion. The Covernment contract over
bidder
plan is to avoid a mere one-shot unless the foreign
bidder's American
report but to obtain debate by public hearings even in arcos unreasonable.
where feeling is highest.
aš 冠
an
n
is
the
mistaken or prejudican" law but recognises also that it could
notion that the "Buy
awards, precludes all foreign would ignore foreign
bids altogether, except when harassed by the State Department on, the case coming 10 its attention.
The considerations Mr Foster requires the Service Secretaries to take into account in letting contracts make an award to a contrac low foreign bidder far from automa automatic. No hats should be thrown into the air in thought that the "Buy American" law is dead.
the
RESERVATIONS URGED
or more of the Where one following factors exist, Mr Foster said, careful discrétion must be
in determining exergised award
the
1000 24.80 60024.00
18.60 18.80 BOO 24.70 24.00 200
Crawford 33
7.00
160
Enne Crawford
Sinceres COTTONS Ewo
4300 7.00
21% 2000 2.43
Quiet Day In
Wall Street
New York, July 28, Prices moved within a narrow range on the stock exchange in quiet dealings.
A few specialties moved out of the narrow range, Several pivotals held at the previous level.
the
"TUWANGI”.
"BOYREVAIN" "TJITJALENGKA"
Aug.
APK
"STRAAT DANKA”, - AVE.
TJIBADANI "TJIBODAS”
#İJLUVACÍ
*VAN HEUTEZ" HINWANDF
"STRAAT
MAKABIASH "TSPONDOK”
"D015SKVAIN"
"TABMAN" "THLUWAR”
WTHRADANJE" #THKAMPEK”
TRGELDANO" #TJIWANGP
"VAN HIRUTSZ" "STRAAT
MAKASSAR” "TJIPANAS" "THBODAS"
"THLUWAR”
**TJIWANGT"
"BOISSEVAIN"
"TITTJALENGKA” "STRAAT DANKA" “TIBADANE"
"TJILUWAH”
"VAN BEUTSŻ"
BAILINO B
Aug. 17
·Aug. 15.
Aug. 11: Bopt.#
Sept. Bept. Bupt. $
Kept. 14 Bept, 18
Sept. 10
Bept. 23
Sept. 30
OCT.
Oct.
Oct.
Oct.
Đ
Oct. 22
Oct,
“រ
aimenpera,,, jakarta
· Beviating
· Kurawan · k' Machanar Japan Evia Munda) Singapore, Mauritíny, #. Atrien à
8. America
Munting • By Porja - Bingapore,
“Valang. Belawan Dill, Mombasa, DTakgar Lägildah, Balvi-Balaatu,
3.Atriles 2:42. Amstjek
Djakatarekin,
A komaráng,
Buradala akaenizat shigaporey--Djakatta; – Bemiarády, up: Burabila a Marasiny
Singapore, Penang & Belawan Den Biorapors. Dakarta,
Hurabila a DEMEANIA?
Nemarang,
Semarang.
Djakarta, Tjirabats,
Butabala & Macatuar
Blogipore, Mauritius, 8. "Abrien, â '8. America Japan
MIKALIA,
muigapore, Djakarta, Bemarang.
อาหt to Meeratt
Singapura; Pinoty & Belawan Deli Djakarta, Tiirebon, Semarang.
"Burebala & Macassar 1
Japan
Bingapore, Djakarta, Bemarang,
Burabila a Macksur
Ringapore, Penang & Belawan Dol Manu Bingapore, Mauriun
6. Africa “B. America
Гарал
DjAkartą, Tjirebon, Semarang
Buradnia & MacassaY Singapore,
Djakarta, Semarang.
Hurabala "Macasing
ARRIVAL A
In Part
Aug. 1
Aux.
Aus.
Aug.
Aug. 11
Aar. 19
From
Djakarta, Rezarang, Sorabala
MOCASSEY
•
1.America, B, Africa, 38auritiua,
Singapore
Japan
Zapan
8. Amarica, K & S Africa
Mauritius Amgapore Macassar,
Sprabela, Bemarang.
“jakarta ✯ Singapore
Zar A
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, DALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOSˆANGELES AND PANAMA.
:
M.S.
NEXT SAILINGS
"JEPPESEN MAERSK”
M.S. "HULDA MAERSK”
ARRIVALS FROM U.S.A.
M.S. "TREIN MAERSK”
M.S. "TREIN MAERSK❞ M.S. "PETER MAERSK”
M.S. "NICOLINE MAERSK"
July 30 Aug. 16
Sept. 2
Aug.
7
Aug. 11 Aug. 80
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building.
PENINSULAR
Tel. Nos. 86066-9.
& ORIENTALİ
STEAM NAVIGATION COMPANY
R.M.S. "CARTHAGE"
NOTICE TO PASSENGERS
price By a regulation fairly general
CLOBING DOLLAR GAF through the Government Depart
The Administration is confident mente, unreasonable is taken to mean a price 25 per cent above that a $2,000m (£717m.) increase the lowest foreign bidder's landed in, imports, which would practic- price. In practice, many field ally solve the dollar cap, would
noticed by procurement officers, in the lazy, scarcely be
American economy as a whole,
well Injure a town hero or a factory there. It feels that too little thought has been given to this in the past, with the result that opposition to liberalisation persists in areas where it might be avoided.
Trading was quiet, Investors. Another angle may be stressed | held on the sidelines in face of to tain support for trade few labour disputes. The liberalisation, namely, the helpful possibility of a strike in effect of foreign competition in aluminium Industry dampened American monopoly or combine buying enthuglasm somewhat, areas. It is obvious that the
Transactions totailed 1,030,000 anguished cries from American chares. Of 1,056 issues
traded, electrical manufacturers no closed lower, 968 higher and strangers to
anti-trust citations 203 were unchanged. New SAILS: to the Ferranti award and the highs were registered by 25 recent Reclamation Bureau con- stocks and 12 made new lows. Lracts
Electric and English to
Dow Jones averages at the end Oerlikon' are not based on the of the session stood as follows:
277.04 (A) Strategic Considerations: fear of losing a large volume of 30 Indutrials
all 1. A foreign source would be business, since the heavy 20 rails
102.39 BAGGAGE: of limited electrical equipment Imports in
50.24 10 utilities higher at or near the day's despatched to Indonesia follow-unreliable because
1951 were only one-tenth of one location in an
40 bonde
08,338 capacity or its ing a formal
by the area where political or economic per cent of the total American Indonesia'a Mono instability might hinder Director of
por-production, recently formance.
The protests are poly
Bureau
motivated visited Japan.
2. Articles and their related instead, it is believed, by the The same company will be in production facilities in the U.S. prospect that a cosy price strute- upact by foreign charge of drafting a plan for the
are of such strategie importance ture will be projected Indonesian soda plant that of the
domestic self-sumelency competition. and will offer the necessary
must be fostered.
"TRADE, NOT AID", technical assistance for the con-
3. No oppreciable logistical | It is impossible to foresee what struction and operation of the plant which will be used for the advantage to collective security concrete results the Administra manufacture of soaps and petro-is served by maintaining or in- tion's campaign may have. The creasing production capacity in Incoming Congress, perhaps, will leum refining.
The Nihon Keizal did not give the foreign source involved, be no more able to withstand off to and soybeans were
Un of 1% to up 4. Prices of grain | EMBARKATION: dotalis of the plan for old to (B) Domestic Economile Con- protectionlat pressure groups
Congressca UVD
over since the Emoot- futures closed as follows: soia-manufacturing siderations:
Wheat-price per bushel would have to Hawley days. Nevertheless, there spol Burma's
1. The U.S. furnish too much scarce produc-aro encouraging signs in the Beptember tion materials
a foreign willingness of Congress to
remove tha thus interfering with the worst features of the May JAPANESE BONDS the build-up of the Industrial "Chonser
amendment Detence Production Act
Act (restrict Spot
Beblember December 2. The competing American ing imports of fats and olis), in necem
be classed as a the Tariff source would
Commission's
ton's willing-
May ness to
Rya small business, or in an area of to reject the escape clause
July **. high unemployment, or as a do- against British motor-cycles, and pressed industry. In all such in the fact that Mr Truman is
The
to héca competing soon' to issue a refusal source would be legally of the Tariff Commission to
the ridiculous
recommendation entitled to special favours.
invoke a clause for domestic
• MARKED ADVANCE Even with, these reservations, guriic-growers.
Heavy buying came largely through commission houses, sup- plemented by trade price fixing.
mainly
dry
~ Dalia
and was sald to result front
of reports ther over large areas central and castern cotton belt.
Belgium
0198 .1453
France
0020-0/18
West Germany
4.20
Helland
.20.37
Italy
0018
.1405
0370
best levels.
0345
0023
Switzerland
MIDDLE EAST
Expl
2.8012
Iran
03125
Iract
2.7014
Turkey
$375
LATIN AMERICA
}
Argentina
0640
Driz
.D500
Jolivia
Chile
0055
Colombia
4023
Cuba
1.00
Mexico
.1181
0650
Uruguay
Venezuela
2003
FAR EAST
In 11a
200-4
T-kistan
2010
1755
.3010
*3295
Peru
Jongkong
Indonesia Kingapore Japan ...
550 yen to USȚI
-United Press.
LONDON TIN
MARKET
London, July 20.- The tin market was casier 'this morning with a turnover of 60 tons of which 40 tons were for cash. Prices closed today at the end of the official morning
session as follows*,
Foot tin, buyers
Fool tin, milers
Pusiness done at
Three-month Un; húyera Three-mantha tin, sellers
Pines done at Geitlement
Trade circles note that the market is apparently discounting the lower than expected cotton crop estimate as a result of rapid deterioration being reported. Speculative short covering found offerings limited with a leading spot house supplying most of contracts.
At the same time word came that cotton manufac- turers in New England are step- ping up production for the first ilme in 10 months, reflecting a pick-up in business.
the
Prices closed today as follows: 40.40 nominal
Spot
October
December
March (1853)
May
July October December
$7.55-37.65 37.40-37.43 37.30-3733
57.17-3720 30.70
34.95 nominal 34.75 United Presa
NEW ORLEANS MARKET
Społ October December Match (1963) May July 967.600 October
December
39.00 37.-31.00
3137 big
5477.bid
oltră: Press.
request
who
plant-France-Presse,
mobilisation base in the U.S.
London, July 28. Japanese bonds
811/2 "A" (49, of 1800)
09 "B" (4. of 1010) "C" (49, of 1007) "D" (5 of 1934)
124
111
-142
Smerican sour
"" (0, of 1934) Console
7
BUS4 United PreKK.
Copra Quotation
reason.
to
of the
United Press.
Grain Prices
In Chicago
Whent
December
ALLIA
Corn
September
July
Chicago, July 20,`` futures closed today
8.24.32514
3:44.
0034-1
September
New York founter 200 15. BIẾT. $1245 nominal-United Press.
admittedly capable. of much Indeed, the present climate of Exchange Rates stretching by a Service Depart opinion auch that Aineries ment not anxious to help foreign may well be ready to listen to -the trade, Mr Foster's memorandum economic New York, July 28, Copra was quoted today at represents a marked advance in Administration keeps up steam $127.50 per short ton, nominal, the Defence Department which on the theme of "trado, not ald,” Coconut oil was quoted at hitherto has manifested not the significant, if plecemeal, pro 9 cents a pound, asked slightest concem over the fact grees in the next couple of years
that its own procurement policy is a distinct posability. -Unibush Prosi, –
Business was done in the foot this exchange market noma morning at the following rates:--- US dollars (per 11) Starling note. (per £1) indonesuliders (per 100) + 1.80 Blain Ticala (per 1003 ) at...... Singapore (Btraits)
1.
FIC pientres - (per 1100)
31,60 1.74
SPECIAL NOTE:
FRIDAY the 1st Aug. at 12.00 Noon for the UNITED KINGDOM vlá Straits, Colombo, Bombay, Aden and Port Said,
ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co's Godown at NO. 2 GATE, CANTON ROAD. ENTRANCE BY NOON on THURSDAY the 31st July, 1952.
With the exception of hand packagoa carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.
Will take place on FRIDAY, the lat Aug., 1952 between 9.30 am, and 11.00a.m.
To ADVERTISERS
PRESS
SUNDAY POST-HERALD PHOTOGRAPHS
„Space" for
commȧrelal advertising should
be "booked · not fater than
of photographa Copies hoon on Wednesdays. |taken by the South. China
Jena Morning Post, South China- For the SOUTH CHINA Sunday Post-Herald,* and MORNING' POST and the
China Mail Staff Photo- CHINA. MAIL, 48 hourm hofora date of publication graphor aro on view In the, Morning Post Building,
· Opeofal "'' Anhtundemänte "and" · "Dlgsniked Advertise- ∙ments as usual,
ORDERS BOOKED