MESSAGERIES
M
"GRENOBLE” "FALAISE"
MARITIMES
Arriving Leaving
.ABE. 27 Sept.
Bopt. 10 Sept. 21
*"FELIX NOUSÕEL” .......... Aug.
+"MEKONG"
Keclank Aug. 10 Hoogkong Aug. 12
Aur. II
Aug. 13
'COURBEULLES”
.....Sept. 3
Aug. Sept.
18
9
•
For passenger and freight,
M
Outward For
Europe Europe
Homhward. For
-N. Africa Enrope
IN.
Mamelles via Manila
N. Africa & Eutópa
1 For freight to Saigon, Airiers, Oran, Tangier, Casablanca, Havre,
Dunkirk, Antwerp & Rotterdam,
Accepting cargo:
-via Marseilles to all Mediterranean & West Africa Porta.
via Djibouti to Madagascar.
Anbject Tu Chango Without Notice.
CIE DES MESSAGERIES
MARITIMES Tel. 26651 (3 lines).
P.O. Box 63, Hongkong
Queen's Building (gr. floor)
EVERETT
LINES
EVERETT ORIENT LINE
Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya, Burma and East Coast Indian Ports.
"REBEVERETT”
Arrives Aug.. 8
from Singapore.
Sails Aug. 9 for Japan.
"BRADEVERETT”
Arrives Aug. 12 from Manila.. Sails
Aug. 13
for
Singapore, Swettenham, Rangoon
&
Port Penang, Calcutta.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast cargo and refrigeration spaces available for Koren, Japan, China, Philippines, Indo- China, Siam, Malaya, Ceylon, West Coast Indian and Persian Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI”
Arrives Aug.
9
from Philippines.
Sails Aug. 10 for Kobe, Osaka, Nagoya
& Yokohama.
M.S. "NORDSTJERNAN” Arrives Aug. 15 from Japan. Sails
Aug. 16 for Singapore, Madras, Colombo, Bombay, Karachi, Kharramshahr & Basrah.
(Accepting cargo for transhipment Kobe/Pusan and Robe/Okinawà)
EVERETT STEAMSHIP_CORPORATION S/A Queen's Building, Telephone 31206. Chinese, Department: Telephono-28293.
Decline In The Rubber
New York
Cotton Price
Now York, Aug. 5.7
the Beneficial showers over central belt restions dampened the bull movement in cotton. Prices dropped back as much as $2.75 a bale. It was the first major sceback since the bull movement got under way in mid- July. Prices closed today fellows
Spot
October
December
March 1953)
July
October
December
NEW ORLEANS
Boot.... October December March (1053)
May
July October December
Markets
futures
Singapore, Aug. 5. Prices of rubber closed today as follows:--- Number 1 rubber, per lb.
September
October
November
Number 2 rubber,
September September 1 Number 3 rubber, Number rubber,
15 September *******
Spot rubber, unbaled Blanket crepe
41.45 nominal
39.85-78.87
30.03
30.47
39.20
37.61 bid
35.69 nominal 35.45 notani MARKET
40.25
34.15
30,61
30.27
30.47-38.00
37.64 bid 35.71 bid 55.43 bid United Press,
Sino-Japanese Fishery Talks
Tokyo, Aug. 5.
represented
No. 1 pale crepo
001- 0374-80
01-01%
74.78
713-714
00-8714
QT-07
100-114 United Press.
NEW YORK MARKÉT
Prices
New York, Aug. 5.
of rubber futures
closed today unchanged to 10
with higher
14 contracts.
September October
November
December
Jay (1053)
February
March
April
Nay
June
July
August
Spot
September
Epica
tofalling
20.75 L 29,24 nominal 28.72
28.30 bid
27.66 nominal 27,53 27.20 bla
27.00 nominal 20.80 bid 26.72 hominial
25,05 Bld
20.45 nominai 20,25
-20.75
United Press.
LONDON MARKET
Landon, Aug, 0. Prices
of rubber
futures closed today as follows:- Number 1 rubber, in penca
*per 1b. September October/December by January/Marsh
April/June
The initial session of a corn- mitten set up for the establish- Joint Sino-Japanese ment of a Fisheries Company took place Bero today.
Japan was Tojei Iiyama, deputy chairman cf the Ocean Fisheries Delibera- tive Council, and six others, and Nationalist Chinn by Hua Shou- chung and three other Nation-
int Government offelals. The Chineso delegation at the conference introduced a proposal dehing and sales by the two on an equat basis, zuntrica
counter-proposal The Jugando counter prop the next committee session to morrow-France-Prosse,
20-2014 20-2014
2650-40
231-20
*United Press,
Tung Oil Price
New York, Aug, 0. Prices in the seeds and dis market closed unchanged with the following exception:
Tung oll, in tank cars, New York, F.O.B. 38% cents United Proazs,
THE CHINA MAIL WEDNESDAY, AUGUST 6, 1952.
Indian Mission To Japan
Tokyo, Aug. 8.
The Indian trade mission due here next week) iz ox- pected to improve industrial co-operation between Japan and India.
The leams, headed by f1. W. Gupia, leading Indian businessman, will seek to copelude trade agreements for factory equipment and Industrial goods. It will also request the Japanese Government to mend komme fechnicians to Tedia, ro- ports sald-United Press,
To Remove Restrictions On Steel Exports
Tokyo, Aug. 5. Kyodo News Agency sald last night that the Japanese Government has decided to remove its April restrictions on iron and steel exports to the Sterling Area,
ban was imposed as part of the to stop a of unwieldy
A partial Spring last Government's drive mounting surplus Sterling credits.
The export quota was set at 495,000 Long for the Sterling reduction from
Arca, a sharp the year before.
The Ministry of International'
Industry, Kyodo Trade and said, now believes that this will have to be lifted-mostly world loss of because of the about 15,000,000 tons from the U.S. steel strikes.
sald, Japan's Also, Kyodo trade balance with the Sterling Area has levelled off because of Britain's recent import cuts and trade can now be increased. planned to resume It is also steel exports-Associated Press.
BUYING OF COTTON
Tokyo, Aug. 5. The All-Japan Cotton Spinners Association yesterday decided to form a special association to ac- celerate the purchasing of thw cotton from Pakistan, according to the Kyodo News Agency to- 'day.
The presidents of five leading cotton spinning firms, including Kunitake Muroga of the Shiki- shima Spinning Company, were chosen as members of the pre- ommittee paratory
for the formation of the planned as50- ciation.
The commitee will hold its Initial meeting today. Organiŝa- tion of the asociation has been by the recent prompted Palokinni offer to increase, cotton exports to Japan,
Jepunere cotton men had been slow in purchasing Pakistan raw cotton in the hope that this would rarult in price cute to at least the level of American cotton-France-Presse.
FOREIGN EXCHANGES
IN N.Y.
New York, Aug. 5.
US$1.031
Canedo England-omclei
unofficial
30-day futures Bo-day futures
2.7031/10 2.0T bld/
2.7831
2.77
Australia
New Zealand
2.704
South Aften
Belgium
23
230-11/10 .01994
Denmark
France
West Germany Holland
0923-0/10 4.20 MZTAT
Italy.
Norway, Portugal Spain Sweden Switzerland MMdle Eart
Egypt
Tran Kroq Turkey Latin America
Argentina Brazil Bolivia Chilo
'Colombia Cuba Mexico Peru Uruguay Vearzucia
Far East
India
Pakistan Hongkong Indonesia Singapore
Copra
Copra
TUG-OF-WAR BETWEEN BUYERS AND SELLERS IN INDIAN ECONOMY Contradictory Influences At Work
Bombay, Aug. 4.
A tug-of-war between buyers and sellera
which has been going on for the past six months Trading
Contradictory in-
continues unabated in India. fluences appear at work in the economic field.
The money market is tight.. The Reserve Bank, the country's central banking institution advancing finance, seems to be vigorously pursuing its policy of contracting the money supply. Bank returns show that between the middle of April and the end of June, notes in circulation have been reduced by Rs. 360,000,000.
On the other hand, commodity prices, after touching new lew in' May, have resumed their up- wars movement. The trend was mere pronounced during the later part of June. During the month, the overall price index went up two per cent over the May Ievel.
After the recent price stake- up, the return of business con- ndance has been slow-rather painful. However, the announce- ment of liberal export quotas by the Government in June has given trade zome ground for export optimism, as far as the outlook and earnings are con cerned.
Japan Inquiries from
and the price to £154 per Australia for linseed oil boosted average during the second week of July compared to 148 the previous week. Exporters quoted £128 per ton for groundnut oil as against 123 the week before Mercury on African inquiries, closed the week at Rs. 393 per flash, a rise of 35 rupees over the previous week's level, due to speculative and export buying, Black pepper, another export re venue earner, stood at Rs. 3,350 for spot per 544 cwis-an time high for the year 1952-due to persistent U.S. buying and growers are reported to be bold- ing their stocks tight in the hope Cotton and higher of still
prices. artincial ilk yarn prices also recorded sizeable improvements due to exporter reports of marked Increases in overseas demand for Indian cloth,
All
Gold and silver generally showed a steadier tone with the rates around 88 rupees per toln ard Rs. 158 per 100 tolas respec- tively a rise of about two and Ave points.
TURNOVER DECLINING
Conversely, on the domestic consumer market front, reports from trading centres indicate that production and turnovers are declining. Shops and theatres, for the first time in several years, are complaining of less money moving about. Everybody szems getting more conscious of the value of money in hand.
Trade advices state that the, Government is still considering ways and means of wiping out the country's Inflated paper money. The total of such money is believed to be about Rs. 121,- 200,000,000.
Feeling the pinch due to turn- over contraction, one Bombay restaurant in a fashionable local- ity Introduced a combination meal system for lunch, marking down the overall price more than 30 per cent compared to its previous a la carte rates. When asked why he did so, the rani proprietor said! "The days of making profts seem gone. it is a ends miel. It is now ntcessary to alm at greater volume turnover on a smaller percentage of proft so we can carry on with our business."
HONGKONG
SHARE MARKET
With
Red China
HOPES IN JAPAN
Tokyo, Aug. 5. Japanese traders are hopeful that a £10,000,000 trade with Communist China will materialise by the end of the year follow- ing the relaxation of the banned list in Washington.
The Japanese Government, however, seems to think just the opposite...
Trade clrcles, upon learning of the five-nation decision to admit (From Our Correspondent)
Japan to the Parts Committee on Tade with Communist Coun. Yesterday's increase in busi-tries, pointed out that four items
on the had been struck off the let ness was maintained
machines
woollo: Stock Exchange this morning. spinning Dealings were fairly distributed goods, dyestuff and paper and throughout the list with total were included in the $13,000,000 barter accord Smo-Japanese Noon $825,664.40. transactions:- quotations and the morning's privately signed on June 1 in
Peking. SHARES DUYERS BELLER: SALES
Tumover
BANKS
HK Bank Float Asta ... INSURANCES
Canton Union
1338
A20
76315 74715 BK FU.... 134 Arla Nav. 1.BTIL SHIPPING DOCKS, ETC. W. Whart
4100
600 14734
03. 103 87 N. P. Wharf 8.00 Dock
18.30 16.60
1000 @ 8.00 Provident 12.40 12.89 4580 @ 12.40 Wheelock ... 4234 43. – 100 en siya,
800 a 423 6004294 C00 @ 43..
MINING Raub
8.30
LAND. ETC.
JUK Hotel... 0.40 016 UK Land (0) 4835 4815 Humphreys.
Realty
UTILITIES
Tram
1000 5.35
12.10
1000
2.16 10.80
....... 10.60 10.00 1000
· Peak Tram
(Old)
20.10
(Now)... 13.10
Star Ferry 100 10116
C. Light (0) 0% 8.00 6327 815
2000 8.00 C. Light (N) 3.00 138 8.30 1000 @ 3.90 21%
Elettric.... 22.30 22.00 700 MACHO
Electric
2015 Telephone 17.00 17.30 700 INDUSTRIALS
Coment Rope
18.73
STORES, ETC.
Dairy
Watson
ميد
The uitreament had been signed by two Japanese Diel members, Mme. Tomi Kora and Keisuke Honshi, and Red China's Trade Promotion Committee Chairman, Nan. Han-chen.
Those truders
expect that spinning machines will be the No. 1 ftem among goods to bu They xported to Red China. claimed that negotiations STO woll under way for a barter tude of 50,000 Japanese cotton pindles and 200,000 tons of Kailan coal.
They cleo
stressed
that
Japanese exporters are ready to ship out large quantities of dyestuffs to Red China now that the ban has been lifted.
On the import side, they listed as immediately wanted by Japan 5,000,000 pounds of namie, 100,- 000 tons of coking coal, 20,000 logs of soyabeans, besides tung oil, lacquer and gypsum.
GOVERNMENT VIEW
Those are the Items Included 17.70 in an import list prepared by the Sino-Japanese Trade Pro- 17.70 800 17.70 motion Association; a group of
1000 # 10.70
leading Japanese firms eager to 10.70 19 100 a 18,80 reopen commerce with China, 25.30
310 25 240 25.20
1. Crawford 24 COTTONS
1
Ewo
2,40
New Zealand
Beef For America
of
The value of import goods wanted by Japan already amounts to £17,200,000, it was pointed out.
Meanwhile, the Japanese Government does not seem to share the rosy view held by traders, The Minister of Inter- national Trade and Industry, Ryutaro Takahashi, commenting on Washington's decision, stressed the precarious nature of the current commercial relations with Peking.
Washington, Aug. 5. He pointed out that there is The U.S. Government yes still no way to negotiate on bank credits and claims even though of'terday authorised the sale Now imported New Zealand beef in Japan may be theoretically free a struggle 10 make both this country to replace Canadian to trade with Communist China, barred bc- Observers here noted in this beef, temporarily
the lack of an outbreak of fool- connection that cause of
'shipping will prove an immediate and-mouth disease in Canadu,
The Once of Price Stabilisa obstacle in carrying out trans- tion amended its beet price re-actions-France-Pierre. The Plonter Coffee House in gallon to permit sale of New Banbay's Churchgate Street was Zealand bec The ceiling on the first middle class restaurant
"CHEAP SALE" BOARDS
lower than
Easier Trend
lu Grains
to introduce this systeem and with beet delivered in this country a sharp price reduction in the will be 50 cents per 100 pounds
the ceilings 2.00 asked
Lace of the rise in prices of stapic food-bread, zice and wheat American beef at the same port the consequent upon the removal of of entry. This will be at the
wholesale level. At relall the food subsidy.
New Zealand bect will have the sathe cellings as domestic beet.
The OPS said about 50 million of New Zealand, beef Smaller shops are conspicuous pounds
by contracted for with "Ceap Sale" "boards, dis has been played in front of them. Almost American Importers.
sufficien! of
The ban all report lack
on shipments customer attraction and turnover. Canadian beef to this country The result has been that their became effeclive last February. funds, locked up in goods, con-
OFS sald that approximately tinue locked up, resulting in loss in milion pounds of Canadian of interest.
Money does not seem to beet were imported last year. as follows;
Associated Press, fast enough or, smooth enough to stimulate business activity.
005
200 yen to USŢI
-United Press. '
Quotation
New York, Aug. č.
$15200 as quoted to at
Cocoanut oil was quoted at 9, conds a pound.--United Prem
The Ditsensus seams to be that
sfter nearly 15 years of inflection, Pepper Market
the economy is now getting vul- nerable to a painful retreat from a trade boom to a trade slump.
United Press.
LONDON TIN
MARKET
London, Aug. 5 The tin market, pianged more than £20 this morning. Turnover
New York, Aug. 5.
Chicago, Aug. 5. Grada futuros and most major commodiieread today. The wheat market was steadfer thin the other grain ratures, finishing with minor femotional changes, Wheat closed 16 higher and soybeans were 2% 10 21% lower. Prices closed today
|Wheat-price per bushel
Spot
September December
March
MAY
Con Spol
Spice dealers reported a con- Beptember United pausa in demand for black December
material was pepper.
Spot Indicated at f between
can $1.76-$1.00 nge
a
March May
a pound, and Socia awaling Spot release at $1.741,76.
September
On shipment positions, August Gats was indicated at $1,55 and Spat
September
lower to 34
2.2016-3.2542 2.3914-2.40 2.412-14
1.08514-1.87 1.7546-36 1.BOT 1.81-1.8.
2.08 2.001
Brews
September $1.41.30 a pound, New York four-per 200 lb. Back. all on an ex-dock busi-United 12:10,mited Press. Preps;
was 156 tons, all for forward. Exchange Rates JAPANESE BONDS
closed at the end of the
marning
scoalori
omcini
follow
Spot Lin, truveta"
Spot Ln, sollers
10
גןד.
23
Businem was done. In the local
-Kondón, Aug. 5.
utiofficial - ekubaliks
market this | Japanese bond
morning at the following rates: U.S. dollar (par $3,00 Aibling rate (për (21)
210-010
Axtoneal guilders (of 100).. Blam,ticals (per 100)
16.00
31.00
14.. at 1934
140
United Press,
Bitgapore Biralta) FIC pleatres (per 100)
174 Conso
4716.
United Prese,
Business dona ni Three nonths 10. Buvert. 963. Three-monthia tin, seifers 044 Purpem done at
Settlement
1
Page V
ROYAL INTEROCEAN LINES
"DO:BIEVAIN» A -TIINALENGKA“ "STRAAT BANKA“
Aug.
"TADOVAS,
"VAN HEUTE **HWANGI*
*STRAAT
MAKASEAN "TJPONDOK"
STARMAND ***JILUWAR*
"TJISADANE"
TIKAMPER"
· "TJIWANGI"
TEGELBERG *VAN HEUTIZ” "STRAAT
MAKASSAN* "TIBODAS”
"TILLUWAN" :
THPANAS" **TJIWANGI
"DDIBSEVAIN”
"BTRAAT BANKA” "TJTJALENGKA" "TJIBADANE“
"TJILUWAR"
"VAN BEUTSZ"
BAILIN 0-8
ng. Aug. 11
Sept.
Sept.
Sept.
Sept. 14
Bept. 14
Bept. 11
Seit 25
Ort.
Oct.
fet,
Oct,
flet,
Got 18
Det.
Nov.
Jasin Pola Rasisi
"AIKENDATAJNIKAÜGA, A. APHA &
VEN ABARCH
Manita, Jakarta, · Bolswan
Dali
Aingapore, Pirani? Mombasa, Tangs, Zamılbar, Dares-Batnam B.. Altles & 8, "America
JAPAN
Burkbala & Matasar
DJkarts.
sing=pate..
DJARSITA,
Surabala & inexstar
Remarank,
Bemariat,
Semarkdj.
singaporn, Penang & Belawan Dəli
Bingapore,
Djakarta,
Búrábala & Mac
Japan
jakarta, Titebon,
Burubala • MERCATIAE
Kianila,
Semarang.
Ribjapore, Mauritius
n. Alrich & 8. Amèřích JADAM
Bingapore, Diskarta, Bemarang,
Surabala & Minchchar
Singapore, vnâng & Delaware Deli Ujaknita. Tjirebon, SEMATADE,
Surabala & Macasíar
stogapore, Djakarta,
"Bütrbála á diacassar
.Japatz
Becharabe.
Blagapore, Penang & Belawan Dell MANUA dingapore, Mauritina,
5. Africa & 8. America
kreton, Burabola de Macartar
Djakke,
Betnraba
Singapore, Djakarta. Bemarang.
"Kurábala do KYRERIGAT
Гарап
Aingapore, Djakarta, Semarang,
Burabola & Macanar
ARRIVALS
In Port
In Port
From
5. America, 6. Africs, Mauritius,
Singapore Japan
JAGAD
B. America, B & B Africa,
Musirikan & Singapore
Bumbia,
Aup.
Aug. 1
Aug. 12
Macassar,
ARK, 20
Japan
Djakaria & Singapore
KING'S BUILDING, Ground Floor,
Semarang,
TEL. 28015/18.
CHINESE AGENTS: 82 CONNAUGHT RD. U. TELŠ. 31190, 25193
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND FANAMA.
NEXT SAILINGS
M.S. "HULDA "MAERSK” M.S. "TREIN, MAERSK” M.S. "PETER MAERSK”
Aug. 16 Sept. 'Sept. 15
2
In Port Buoy A5
Aug. Aug. 30
9
ARRIVALS FROM `U.S.A...
M.S. "TREIN MAERSK” MS. "PETER MAERSK" M.S. "NICOLINE MAERSK"
For Freight and Further Particulars please apply to:-
AGENTS:
JESEN & CO.
Pedder Building,
Tel. Nos, 86066-9.
Mines
Mechanisation In
Japanese Paying
Dividends
Tokyo, Aug. 5.
Japan's coal production is steadily rising, to the accompaniment of falling costs, under the influence of an extensive mechanisation and rationalisation programme.
Production costs are still high, but Japan is one of the few nations in the world which is con- sistently and steadily increasing coal output per.. miner.
German methods, and German still be imported from French equipment are largely responsible | Indo-China, India and the United for the continuing transforma- States. Cheap Chinese coal from tion in Japanese.methods. Some the Kailin mines remains a Juro been imported to Japan's heavy Industry. The equipment has from the United States, but Ger- present polley of the Government man machinery is more suitable is to suspend coal imports from for Japanese coal mines, which the United States in favour of Japan is resemble German mines in size India, whose trade doggedly cultivating. and layout.
Wages bave risen and are rising as trade union influence. Accordingly, some mine owners, are pressing for a repeal of the excessively de mocratie" pccupation legislation which keeps girls of from 16 to 10 years out of the mines.
Adcording to a current three- year plan, based on United States expert advice, coat production is increases. scheduled to be 53,500,000 tons in 1954, or 15 per cent more than the 1951 totol.
£10m, EQUIPMENT COST The output of the 1s big com-
panica (which produce 10 New York Sugar
cent of Japan's aggregale coal output) is expected to gain as much as 17 to 18 per cent, with
a monthly output per miner of 17 tons d
18
nt
£10m. for
,,
Futures
New York, Aug. 5, World sugar futures closed that, It is predicted rallonellustion is not hampered, unchanged to 1 lower with sales the 20-ton mark will be passed totalling 66 contracts.
Contract No. 0 closed un- by 1934. The cost of completing changed to 2 lower with raloc the current mechanisation plan toth Bing 416 contracts,
estimated
CONTRACT NO. 4 (world) alone.
September Japan ranges now from 3,000 to January (1085) 4,300 you
b. tch. (1,000 Yen March
May 21.) Atcording to
July The Industrial Rationalisation | September Council here, this cost compares Spot with Germany's, 3200 you, Reptember
tho United States 2,100 ych, a November
che production cost of coal in October
Britain's 2,700 yen.'
4.63 4.00 bld
*4.0 bla
3.70
3.03 motthal
5.85 nominal
4.13
CONTRACT. NO, 8.
Match The local industry”, banh, "nov | May. undercut Torölen Dituminous coal July.
September (because of freight charges), but | öpet anthracitic and coking coal munt
1
0.01 più
6,33 11
3.47 HEL
3.71-nominat 5,73 hornina).
5.05
United' Prem.