THE CHINA MAIL, FRIDAY, AUGUST 1, 1952.
Page. D.
MESSAGERIES Y MARITIMES Japan And The Tariff Pact: ROYAL INTEROCEAN LINES
M
"GRENOBLE" "FALAISE"
Arriving Leaving ..Aug. 27
Bept
}
..Яept, 10
Sept. 21
*+"'MEKONG"
| Keeluny
Aug. 19
Aug. 11
\ Hoatkong AME. 12
Aug. 13
Aug. 18
'COURSEULLEB"
.....8apt. #
Берь я
.
For passenger and freight.
*"FELIK ROUSSEL” ...........AHE. I
M
Outward For
Europe Europe ITameward for
N. Africa & Europe
Marsejies via Manila N. Africa à Euṛpye
For freight to Salgon, Aiglers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdom,
Accepting CATSO:
Vis Marseilles to all Mediterranean & West Africa Ports. via Djibouti to Madagascar.
Subject To Change Without Nollen.
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong
Queen's Building (gr. floor)
Tel. 26651 (8 lines).
EVERETT
E
LINES
EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space available for Koren, Japan, China, Philippines, Indo-China, Slam, Malaya, Burma and East Coast Indian Ports,
"REBEVERETT”
D
Arrives Aug. from Singapore. Salis Aug. 10 for Japan.
"BRADEVERETT"
Arrives Aug, 12 from Manila.. Sails
Aug. 13 for
Port
-Singapore, Swettenham, Penang, Rangoon & Calcutta.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Siam, Malaya, Ceylon, West Coast Indian and Persian Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION
M.S. "STAR ALCYONE”
Arrives Aug. 4 from Kakinada.. Sails Aug. 5 for Kobe, Osaka
Yokohama.
M.S. "THAI”
Arrives Aug. D from Philippines. Sails
&
Aug. 10 for Kobe and Yokohama. (Accepting cargo for transhipment Kobe/Pusan and Hobe/Okinawa) *
EVERETT STEAMSHIP CORPORATION-S/A- Queen's Building, Telephone 31206. Chinese Dapartment: Telephone 28293.
THE
"POST" TYPHOON
MAP
10
Incorperating amend. menta the Local and Non-Local Storm Blgnet Codes.
Mounted $5.00. Unmounted $4.00.
Obtainable from
SOUTH CHINA MORNING POST. HONGKONG and KOWLOON
ITAGE TACO TACO ZAGE
BUSINESS REGULATION ORDINANCE
1952
Copies of the prescribed Forms 1 (á) 1(b) and (c)
Now On Sale at
S. C. M. Post, Ltd. Hongkong and Kowloon
TEN CENTS EACH
Japan-Thailand Barter Talks
Bangkok, July 31, Negollations for the re newal of the barter agred. ment between Thailand and Japan began in Bangkok today.
mic
Thalland in represented. by the Minister for Econo-, Affairs, Vorikarn Bancha, and Japan by the Counsellor to the Japanese Embassy, Mr Okuma.
The new agreement is expected to deal with goods up to the value of $00.000,- 800-France-Presse,
Another Advance
In Cotton
New York, July 31, Cotton futures advanced near- ly $3 a bale in active trading be fore hedging and liquidation ap- peared to pare gains slightly.
months were the Nearby
strongest,
The list opened 5 to 20 points higher and moved up as much as 53 points, then was pared to the final range of 18 to 21 points higher.
Continued reports of serious drought and high temperatures (with the fear of extensive crop over sections of the damage) cotton
ption belt were the main cause of the advance,
Britain Faced With
A Difficult Problem
London, July 31.
Japan's formal application for membership of the General Agree- ment on Tariffs and Trade (GATT) forces on the British Government the need to make up it's mind on a matter of policy which has embarrassed it since it came into power last October,
The question is simply whether or not the British Government should agree to Japan's participation in GATT and extend to her the special trading rights due to all signatories of the agreement.
Ever since it entered office, the Conservative Government has ovaded ra. quests for a definite statement of policy regarding futuro British trade rolutions with Japan.
former
necessary against abnormal and injurious competition,””
Tho Labour Government,
When a country applies for membership to GATT, it names which preceded it, had no mich
Last Spplember, Britain's op- the members with whom it scruples. It categorically stated
Into taris that most favoured nation posilken to Japanese member wishes to cater treatment would not be extend- ship of GATT was taken to negotiations. Japan, for instance, to to Japan. This pleased its
Geheva where, with the support has homes Britain as one of the lks to of a number of Commonwealth 20 countries it would fortowera in the country, who
Japanese countries lod by Australia, it negotiate with, with a view to remembered pre-war
expressed strong feeling against arranging tariff concessions, composition and feared that a
The Japanese
next step in the pro- the admission of revival of Japan's
to a full session of the cedure is for the Executive would contracting g' alleged
trade
practicts
Secretary of GATT to usk each parties. rad to unemployment at home.
of the 34 member countries to DILEMMA The Conservative. Party, how-
give their vlows on the
matter, Britain's objection was over Existing members must then which is a strong faction ever, has a though not opposed to trade with ruled, but not before the constate,
within 30 days, (a) British trade Japan
as such, belleves that tracting parties had accepted ita
whether they have any objection tics with the suggestion that a condition Commonwealth should be main-
ain- should be attached to the ad- to the accession, and (b) whether
they wish
baye tariff taines and strengthened. Their mission of the Japanese observo negotiatlans with the prospective
that full membership member. quarrel is not so much with This was
of GATT would not necessarily competition
“unfair" trade
they recognise the danger of it follow.
as with any agreement which, like GATT
Country countr
Government's
4
to
CLUE
THTV
The Socialist
If three or more existing mem- prevents this objection to Japanese member-bers objpet to the accession the
then
before gorg from extending its ship of GATT was clearly based matter
the next full session of GATT. system of Imperial preferences. on fears of a revival of Japanese The matter is then discussed and
by the powerful competition. In the British home
ypted upon once the a scale, that might member has negotiated for tariff The Agriculture Department Beaverb
Press, these market on declared
that the State of
difficult 10 maintain concessions with a certain nun- Tennessee and parts of Missourially-minded Conservative make it
have demanded Britain's full employment.
ber of countries. A two-thirds and Arkansas are disaster withdrawal from GATT and a The Conservative Government, majority is needed to secure areas" and Arc eligible for
dilemma closer integration of Common- however, is in a
admission, Government loans,
wealth trade.
quite a different order. Historically, the question of
The Conservative Party Is Japon's accession to GATT traditionally
"empire-minded" bristles with thorns for British and many of its members and it politicians, either Conservative difficult to reconcile their belief in the development of Inter- In March at year. Mr Harold Commonwealth trade with the Wilson, then Socialist President obligations accepted by
It said it Is considering | bringing further areas under the
ruling.
Prices closed
follows:-
Spot
October
December
March (1933)
May
July
October
December
today 45
10.00 nominal 33.23
37.00-30.00 33.00-30.67
37.73 37.00
34.88 nominal United Press.
New York Stock
or Socialist.
of the
Japan.
ot
We ship of GATT., The Agromant
"Pitain's
If, however, a country, has no
objection to the applicant's ad- mission, it can still refuse to Article XXXV of the General negotiate tariff bargains with it, Agreement provides the appr- priate "estapo clauso.”
It mys the Agreement chall
Board of Trade, asked by Mr. Anthony Green-
en is opposed to systems of pre-not apply between one party and 35.13 nomina) Wood,
one of Labour's rising ferential tariffs and specifically her unless they have had tgrift neroliations with cach to make a state- forbids the extension of exbiing other. young men, ment of Government policy proferences. with regard to the granting of like a half of
something This gives a clue to Britain's most likely course of action. On most favoured-nallen rights tial position In Commoth the one hand, the Conservativo markets has been whittled away. Government must placate lis Strong pressure is being exerted own "Empire Trade" on the Government by a Cons which is oppooed to GATT and faction servative greys of MBs and by would therefore object to
to any Lord.
of the principles of
particularly to which is undeniably a Britain's post-
Exchange
New York, July 31.
PARAMOUNT CONCERN Mr. Wilson pointed out that Britain was already extending the some treatment to Japanese
Stock exchange prices gained trade as to the trade of coun- to "verbrook's newspopors
further to new high levels in moderately active trading. the main industrial group, gains were mostly fractiongi," Ex- perts believe that the market reflects the favourable upswing crop developments.
Dealings totalled 1,230,000 shares. Of 1,068 issues traded, 457 advanced, 333 declined and 277 were unchanged.
-and
pay-
10
Faveran
status
has
gut of GATT"" before the. tries that are parties to GATT.
remaining preferences po. Imports from Japan wire then
FUTUBE RELATIONSTIE restricted for balance of
The sppelfie
question
of grave onwealth' markets. ments reasons as they are today Japanese participation in GATT on in
and in this respect policy to- does not worry the present On the
other
hand, wards
Japan did not differ fapm
Government so much as it did now achieved policy that may be adopted the
once again. previous
World opinion under GATT toward member What does worry the
avours full Japanese
participan countries with which the United tives in the whole question of tion in all international agree- Kingdom had balance of pay-Britain's future relationship with ments would denounce any a ments difficulties.
GATT. Clearly, however, the tempt by Britain to exclude hér The Government, Mr Wilson Conservative Government - as | from one as important as GATT.
•had
to the back-bench. considered whether opposed went on; 270.58 it should enter into a formal Empire group-does not want to
SAFEST COURSE 103.82 underloiting to continue to ax-rent
renounce is participation
Therefore, the British Gov-
Dow Jones averages at the end of the session stood as follows:- 30 industrials'
20 rails
15' ulilitics
40 bonds
New York Sugar
Futures
1
6p.
higher with sales, totalling 423 which was from!
Prices closed today as fol-Japan with
upon employment in U.X lows:-
dustries before the war."
Contract No. 4 (world)
September
4.0$ blu
mole,"
we
denounco
We denounce it as a he told the House of
and choose. After all no one can Lords. "We cannot just pick
terlous to us."
PA
ΤΟ
members,
In
Scent,
which now has to scams likely-it invokes
are
"TIWANOU.
"THTJALENGKA"
"STRAAT BANKA"
"TJISADANE" "TJIDODAS"
"TILUWAERA
"VAN HEUTAZ "TJIWANGI"
RTRAAT
Aus
BALLING BA* Tor
•
Aug. ADE.
12
Aug. 15
Ang.
Sept.
MAKASIADK "TJIPONDOK"
Sept.
έργα,
Sept.
9
Sept. 24 Sept. 16
Sept. 19 Bapt.
Hept.
Oct.
"VAN HEUTAZ".
Oct.
"STRAAT
Oct.
MAKASSAR"
Oct.
Oct. 12
Oct
"BOISSEVAD!"
"TASMAN" "TJILUWA{"
"THISADANE" "TJIKAMTEK"
"TEGELDERG" *TJWANGM
"THPANAS" "THIBODAS"
“TJILUWAN”
"TJIWANGI "ADISSEVAIN"
"EJITJALENGKA" "STRAAT DANKA" "THISADANE"
“TJILUWAH
"VAN HEUTSZ"
:
KING
Ringapore, Mauritian, B. Africa,&
11. Amarica Mania, F. 1. Ports, Singapore, Penang, Delawan: Dell, Mombasa, Tanga, ZaBelhar, Dares-Balanta, 2008. Atrțea &18. Ameṛica Japan 17
Djakarta.
Theban.
Surabala & Maraisar
Somaring.
Singapore, DJakarta, Semarang,
Strakala & Maestrar
Singapore, Penang · 6 · Belawan Do
Singapore. Dinkarta.
Burakala & Macaviar
Japan
Djakarta, Tiirebon,
Barabala & MacassaT
Semarak,
Semarang,
Manila, Stugapore, Mauritum
4. Arict & 8. America
Japan
Bingapore,
Djakarta.
Surabain & Maexaaar
Semarang,"
Bmgapore, Penang & Belawan Deli · Hakarta, Tlizabet; Semarang,
Sugakpia & Macassar
KIDRATATE: Djakarta, Semarang,
Sprabala & Macassar
Ringapore, Penang & Belawan: Dell Manila Singapore, Matrium
8. Attica # 6. America
Japan
Djąkartą, Tjirebon,
Bemarang
Hürabain & Maenasar Singapore DJakarta, Bemarang.
Hurabala Macassar
ARRIVALS
In Port
Aug. 3
Aur.
S
Aug.
B
Asg. 7
Aug. 12
Aug. 20
From
Djakarta, Remarang, Surabala
Macass
8. America, B. Africa, Mauriiing,
Japan
* Bingapore
Japan
R. America, EA
A Africa,
Mauritius & Singapore Mincasar Furabala,
Dakarta & Bingapore
Харам
MAERSK
Semarang,
LINE
FAST FORTNIGHTLY SERVICE TO.
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via
SAN FRANCISCO, LOS ANGELES AND PANAMA,U
NEXT SAILINGS
MS. "HULDA MAERSK" M.S. "TREIN MAERSK” M.S. "PETER MAERSK”
Aug. 16 Sept.
2 Sept, 15
ARRIVALS FROM U.S.A.
M.S. "TREIN MAERSK" M.S. "PETER MAERSK❞ M.S. "NICOLINE MAERSK"
Aug. 7
Aug. 10
Aug. 80
AGENTS:
For Freight and Further Particulars please apply to:--
JEBSEN & CO.
Pedder Building.
HONGKONG
SHARE MARKET
(From Our Carraspendent)
Electrics, Lights, Cements and Dairies were all in demand
this the Stock Exchange
for the morning; furnover morning WILS $217,212.50, Noon prices and the morning's
on
50.85 tend most favoured-naon treat-GATT. Its views on the subjecernment will probably take the 98.83 ment to Japan, and had decided have recently been put by Loed --United Press,
"in all the circumstances" not to Cherwell, the Paymaster-General course which would enable it to (one of Mr. Churchill's closest achieve the safest tegal compre- mise, Britain would offer no In announcing this decision, ndvisers). "If
objection
to Japan's participa- Mr Wilson pointed out that "If
Hon in GATT, refuse to on- must be the paramount concern
ter Into negotiations of the British Government to
which yould
putomically entitle uphold the United Kingdom's New York, July 31.
economic interests and to say that GATT entirely dele-pan to claim the benefit of all the farli concessions previously World sugar futures closed to-
tain full employment, and
Fortunately, from the British granted by this country to other day 2 higher to 5 lower with the Govertiment must have re
point of view, there are " sales totalling 03 contracts,
gard to the quite special charac
dlausos
one way, however, Japanese in the General Contract No. closed 1 to 2 teristics
of the competition cope
Agreement
Tarifs and
and participation in GATT would ho And the Conservative embarrassing for Britain, oven. contracts.
transactions Japanese membership these two escape albuses" The Payments. difficulties This statement was repeated of GATT with its own Empire balance of
SHARES BUYERS SELLERS BALES trade traditions, Probably
will t P
last for 4.09 bid four months later in very much
them as a means to ever, and when
BANKS solved 4.2 nominal the same terms by Sir Harticy welcome
TIK Bank .. 1400 1413 1 & 2400 above Britain from samp of Britain would be bound by the
ameraber 2 ก
spirit, if not the letter, of the INSURANCES as head of the Board of its obligations
Union its the Agro-Agreement to free imports from The purpose in mind the Trade. "Boring
all restrictions. pre-war record of Japanese ment was to encourage multi- Japan from
lateral trade basis
of non-
Scoondly, Britain would be on competition," he said, "we have
against the im-dangerous ground if it still re- discrimination decided not to accord most
ports of another signatory, fused to enter into tariff nego favoured-nation rights to Japan
that wo must Nevertheless, Article XII of the Llations with Japan after the because we feel for the present retain our free General Agreement states that present justification
for with the holding its consent to them has may restrict dom to protect our peonomy if a member
quantity value of mer disappeared. In point of fact, as chandise permitted to be im.
will undoubtedly be parted in ander
ler to safeguard in London, Brithin already given emphasised Its external. Anencial ⚫position most-favoured
{real- and balance of payments."
meat to our nation ment to Japaneso imports
corts into The British balance of pays the U.K. Socialist Ministers mentu problem. fa well known, insisted that they did not want so the Government would have convert this de facto arrange no difficulty in making outs ment a contractual agree case for the restriction of Im- ment.
March
3.BT asked
385 nominal walls, who succeeded ME
3.30 nominal 3.80 bid
October
January (1933)
MBY
July
September
$.07
Contract No.
September November
6.01
0.02
March (1959)
4.57
May
3.00
July September Spot
Thai Airways
CALCUTTA
CO.LTD
3.72 nominal
6.70
4.00
United Preet.
TAG
"THE TRADE ROUTE OF THE ORIENT"
BANGKOK
RANGDONAS
PENANG
SAIGON
GAPORE
HONGKONG
TAIPEI OKINAWA
Enjoy "SKYMASTER" comfort and spood.. For business or pleasura
THAI AIRWAYS CO. LTD.
Peninsula Hotel Lobby,
TACE ZICONZ
Epona: 68600.
TOKYO
ARCOTIC STAGE FACE FACE 7
לית
оп п
portu from Japan as $2
deod,
has
atrendy
done on
could not long po Japan has built up a large sur violated the code of "reciprocal criticism if it plus with the Sterling
advantageous**
Arou
of the and mutually during the first year Anglo-Japanese payments agree trade arrangements which GATT ment, and both British and lays down-London Expresa Japanese policy is now directed Service, towards a reduction of the re sulung Japappso Sterling ba lance.
ANOTHER CLAUSE
While the present balance of payments d{{quities exist, thero- fore, Britain la mot, otaliged to give complete freedom to Jepancie imports, qven if Japan entered GATT.
LONDON TIN
MARKET
London, July 31. The in market, was sically
HK Fire.
DOWS, ETC.
K. Wha
13
.39 58 1
N. Pt. Wharf 5,00 -0,06 Dock...... Provident...
Ahal Dock
Wheelock Hongkew
LAND, ETC.
HK ble ZIK Land HK Land
S'hai Land Humphreys, UTILITES
200 @ 18:10
12 30.20 500 iş 32
150
Tren 10.30
P. Tram (0) PTY (N)
Star Ferry
1.45
15
འགས།
C. Light (0) 0.00
C. Light (N) 5.00
Electric... 20.30 22.30
Macko Elec. Telephone 29 $7,40 17. INDUSTRIALS
Cernent
500 @ 1940
1500 1 1.00
1000 & 2000 $32 2000 F 6.40
* 22.30
122.20 500 € 22,50
030 17:5
500
.... 17.20 17 AD 1200 - 69 17.25
Ropa ....... 13.30.
STORES, ETC..
Dairy 10%
Watson
La Crawford 20.20 Lane Crawford
COTTONS
EWO this morning at lower levels There is also another escape with a turnover of $1 tons, of
close" It can be invoked by which 4 tons were for cash
countries having na: objection to
饥
opplicant Joining GATT, but. Priver closed at the end of the
Which do unt, hopselves, wins, officiat morning Bossion us
follows:
to conclude fresh tariff bardain spot tin, buyers
"externi most-favoured-spot tin, lors
nation treatment. In the few sint domh bi
member
This might do the exact pobl
tion adopted by Dritain towards, Japan.
Three-mon Three-month
Bunitiesa, dovo st Settlement
ited -Preni.
Tel. Nos..86066-9,
The Rubber
Markets
London, July 31.
Prices of rubber futures closed
today as follows:-
Number 1 rubber,
la pence per 1 September October/December Jünuary/March April/Juna
2015-16-
24-241
-United Pres. SINGAPORE MARKET
Singapore, July 31. Pricea of. rubber futures
B2-7
805-
89-60
closed today as follows:- Number 1 rubber, per'lh,
August
September
October
Number 2 rubber,
August Number 3 rubber,
August
Number 4 rubber,
August
Spat rubber, unbaled. Blanket erEDE”
No 1 pale crepe
... 2013-14
73-74
68-70
100-113 United Press,
Weekly Bank
Statement
London, July 31.
The Bank of England · state-
ment for the week ending July 30. reads as follows:-- Netan ial Fetroulatibué à 1,815,000,000 Publie deposita, Private deposits... Government arcurilles
Other securiiles
Receipts
Rank ratio
209311,000 40,037,000 -30,777,000 10.3
-United Press,
Seeds And Oils
New York, July 31. Prices In the reeds and ols $24.90 market closed unchanged with
the following exception:
Flaxseed, per bushel, FOB. Minneapolis $4,03 →Päljed
BH715 3,4215 2000 m. ŽAO
Exchange Rates
Pre-B
4
JAPANESE BONDS
Londth, July 31.
Business way-done-in-the-Los Japanere bindi unofficial mchanga, -market
*6.45:
10.90
· moriing at the following, zaten--- U.B. dollar (per 41) Busty {fiterling_note nor. 41) 55-
Indonesia guliders per 100) Siam ficats (per 100) .**** Hingapore (Širmata) FIC plastron (per 100)
7.60 33.40
(4 of 1910). C41 of 1807) 125
51 of 1034) 914 (1. of 1034). 124
United Pros.
17 Consola 11.00