THE CHINA MAIL, TUESDAY, ́AUGUST 26, 1952.
MESSAGERIES WAY MARITIMES Monetary Fund UNITED STATES MOVING
M
"GRENOBLE”
"FALAISE”
Arriving Leaving
-Gept. 0
Bept, •
"LA MARSEILLAISE"
Hept. 15 ...Bept. 23
Bayt. 16
Sept. 24
.ADE, TI
Aug. 27
Sept. II
Sept. 27
5
Oct.
•
"TAURUS"
†"COURSEULLES“ .....Sept. za
**LA MARSEILLAISE" Bept. 20
*
"GRENOBLE"
......Oct.
For passenger and freight":
દ્વારા ત
M
Outward For
Гарад
Yokohama & Koba Japan
ILOTOWNIC·Wat
Balgon & Haiphong N. Africa & Europe
Marselion via Salzon
N. Africa & Europe
For freight to Salgon, Alexandria, Genoa, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:
via Marseilles to all Mediterranean & West Africa Ports, -via Djibouti to Madagascar.
Subject To Chenge Without Notice.
CIE DES MESSAGERIES MARITIMES
P.0. Box 53, Hongkong
Queen's Building (gr. floor)
EVERETT
E
Tel. 26651 (3 lines).
LINES
EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya, Burron and East Coast Indian Poris.
"NOREVERETT"
Arrives Sails
Sept. 3 from Singapore. Supt. 4 for Japan.
"REBEVERETT"
Arrives Sept. 10 from Manila. Saila Sept. 11
for Singapore, Penang, Rangoon & Calcutta.
(Accepting marzo 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. "THAI"
Arrives Sept. 4 from Japan. Saile
Port Madras, Colombo, Bombay, Karachi, Basṛah Kharramshahr.
Sept. 5 for Singapore,
Swettenham,
M.S. "STAR BETELGEUSE" Arrives Sept. 9 from Singapore Sails
Sept. 10 for Kobe & Yokohama (Accepting cargo for transhipment Kobe/Pusan and Kebo/Okinawa)
&
EVERETT STEAMSHIP CORPORATION S/A. Queen's Building, Tolephone 31205. Chinese Department: Telophone 28293.
America Returns
To
Wartime Pricing System
Washington, Aug. 25.
more
Meeting
Washington. Aug. 26. Tho seventh Annual meetings of the Inter-
Fund national Monetary and the International Bank for Reconstruction and Development will be held from
In
Mexico City
Sept. 3 to 12.
Recti Mr
Managing Director of the Fund, whil present the Fund's annual the Board of report to Governors on Sept. 4; Mr Eurene Black, President of the Bank, will present its annual report on Sept. 5. Both meetings will be open to the public.
Closed sessions will take place later in the week, but the final meeting of the two Boards, on Sept. 12. will also be open to the public.Reuter,
Rubber Workers Gain Point
Columbus, Ohio, Aug. 25. The President of the United Rubber Workers Union said to- day that the Firestone Tyre and Rubber Co. has agreed to a full union shop and 10 cents an hour general pay rate for 24,000 workers,
Mr L. S. Buckmaster said a contract agreement reached last night raises to 110,000 the num- ber of rubber workers through- out the industry covered by full union shop contracts.
the The pay raise increaseA average Firestone wage to $2 an hour, he said. A total of 94,000 rubber workers have won pay increases in the current con- tract drive, he added.
Mr Buckmaster issued his statement after a joint company- union anouncement that told of the pay raise but did not men-
on the union shop.
president Baid:
The URW "Not only were we successful in winning a full union shop, but we were able to improve the working agreement all along the line,"
Firestone and the union have been negotiating here for eight weeks.
The pact must be approved locals, by the eight Firestone the URW General Executive Board, and the Wage Stabili- sation Board before it can be- como effective. It would be retroactive to Aug. 18, and extend to June 10, 1954.
The
provisions require all employees to join the union as a condition of employment.
Associated Press.
new
Early Gains
In Cotton Meet Selling
New York, Aug. 25. Colton futures started on met higher ground but rallies atiffening opposition.
The ensi- ness in grains and securities and the expectations of increased hedge offerings brought realising after an advance of almost $1.50 a bale,
There were spurts of activity the opening and close, In nt between, trading volume slack- ened and come to a halt at frequent intervals. Mill interests mand from that sector lacked its recent snap, redeeling
The Government reports that
than half the nation's 500,000 grocery stores will be required to post dollars-and-cents ceilings on a wide range of items by bought on the declines but de
October 1.
In a return to the uniform community pricing pro-slowdown in textile demand, gramme of World War II, the Office of Price Stabilisation (OPS) said it hopes to:
1. Let housewives know at a OPS made clear that the posted glance the celling prices on many prices will be ceiling prices and not selling prices. Grocers can basic foods they buy, and
still sell at any price they choose
The
Price
Stabiliser,
Arnall, said the community posted
pricing programme has been on cereals, irid since January in the market- and crackers, ing areas surrounding Jackson-mixes, cammed f
and
the
TOWARDS A NEW BOUT
OF INFLATION
New York, Aug, 25.
Industrial production is fitting high levels and the economy is almost back in its pre-steel strike stride.
But as the factory wheels increase their pace, the country is moving rapidly toward a new inflation spiral.
Freight carloadings are the highest since December I as raw materials roll into' the nation's manufacturing plants and Inished goods move out at a growing rate,
Electrid
power is at a hich since January.
as generating stations meet the increased de- mands of industry.
A
HONGKONG
SHARE MARKET
Construction awards have hit
More record $1,366,008,000. than a billion dollars of the awards was for atomic energy construction But it all means lots of work for more people.
· Crudo oil is pouring out at the highest rate since May. Soft coal production is the best since March.
The
Only $42,312.50 high coal production is
transacted during nocded, however, for lean business was
a
this morning's session of the ten days ahead.
Stock Exchange. Noon quotations and the morning's transactions:-
It will build up stocks to carry industry through the halt in coal mine operations called by John L. Lewis as a memorial to miners who have died in oc- cidents.
RETAIL BUSINESS
Even the cotton textile mlils,
been which have
enjoying a spurt in civilian orders, received another shot la the arm-the Government called for bids on 27 million yards of cotton sateen, Retail business is reported a little
above the level of the previous week and somewhat better than a year ago.'
the
Dun and Bradstreet, business reporting service, said shoppers responded to summer slock clearing-out sales.
There is a stirring of interest ເດ in autumn goods as store- keepers begin featuring back-to- school and other seasonal pra- motions.
It is a prolly picture. But s business and industrial activity climbs, the cost of living also advances.
LIVING INDEX UP
The Government's cost of
un
living index hit all-time high in July. it reached 100.3 per cent of the 1935-1939 average. The index was 1.2 points above the June figure and the cost of Hving
moderate income families was 12.1 per cent over pre-Korea prices and Ave per cent
above the level of last January when Federal price and wage controls took effect.
for
The biggest factor in the rise from June to July was a sharp increase in the food prices.
(From Our Correspondent)
1015
worth
01
SHARES BUYERS BELLERS SALES
HANKS
Bank East Asia
INSURANCES
Canton Union SHIPPING
An Nav.
DOCKS, FTC.
200 208
1,00
N. PL. Wharf 0.45. 015 500 in 0.45 Provident .. 12.84 S'hai Dock 1.30 Whoolock.... 42!%
LAND, ETC.
LK Hotel 0.30 0.00 IK_Lama (0) 4521 4615 Humphreys 13.30 12.50
UTILITIES
Tram XO
Train (0)
101%
P. Tram (N) 234
C. Light (0) 095 0.90) Electric... 02.20 Telephone. 1720
INDUSTRIAIS
The rising index gave another three conts un hour to more than a million motor-car workers whose wages are tied to ille rise and fall of the consumer price. Index,
Coment Hope
STORES, ETC.
Dalry Watson
20.70 47.10 .10.20
100 @ 133
200 212
100 5 1330 300 € 1730
20.002723 250 € 27 Crawford 3.20 L. C. (RL)
COTTONIS
MISCELLANEOUS
Yangiame
9
Th 0.10
214
2000 # 5
Foreign Exchanges
In NY
Canada England-official
*
New York, Aug. 25.
US$1.04!”
2.70
unofficial
Walter Reuther, head of the Australia CIO United Auto Workers, sald, New Zealand however, that bis union does not Belgium
South Africa welcome the circumstances of Denmark the automatic pay increase.
"The wage increase," he said. Holland
West Germany "does not compensate for all the Italy damage done to the people and our nation by runaway inflation."
"A BOOMERANG"
Norway
Portugal
2.50 bid
2.773
Japanese To Sign
Trade Pact With Italy
Tokyo, Aug. 25. Informal talks are in pro-
between
the
Japanese Kress Government and the Italian Embassy preparatory to formal negotiations for the conclusion of a trade and payments agree ment which will open early in September when on Itallon trade mission is to visit Japan, of sccording to a spokesman Ike Ministry of international Trado and Industry.
A spokesman said current in- formal talks concern themselves with an item by item xrview of goods on the proposed export- import Ust. He revealed that
"TIWANDI
*TJ{PONDUR"
"DOIESEVAIN"
"STRAAT
MAKASSAR" UTIIWANTIRN "THBENTENGTM
"TJISADANK"
STJILUWAI"
Dept.
Bapt.
Bept.
}
Fept. ท
Art. 30
Hopt. 13
Sept. 15
Bapt. 14
ROYAL INTEROCEAN LINES
SAILINGS:
'EmExpers,
BREITENL
DKT. TfirsDUD. ŚWIDNICKS.
Burabala, Mincassar
Menua, Singapore. Mauritius,
B. Africa 8 America
Japan
drogan
Mania, Singanore, E. & D. Afélca ingapore, Fenang & Bolawah Den
. Stogapore. Djakarta.
Surabala a Mnommar
Japan
Djakuria, Tire brom
Surabaja B Mincassar
Singapore, Djakarta, Bemarang,
Surabala & Nincasar
Japst Japan
Manila,
Abgapore,
8. Africa & S. America Singapore Yenang & Beinten Neli Manila, Dingapore. E. & §., Ahica Djakarta.
Semarang, **Treben, Burabala & Macassar Bingapore, Djakarta. Semarang,
Purábala & Mincuent
Заряд
Barabain & Machikar
Singapore, Penang a Delawan Deli
Singapore, Mauritus, 8. Afrion &
8. America
ARRIVALS
"VAN HEUTSZ" НЕЗАКАЗЕРЕК"
"TJIWANGU
"TJÍSAÐANK"
"TEGELTENO"
"STRAAT
MAKASSAR”
*VAN HEUTSZ"
"TSINANTIET" *TIONA#"
Dept. 18 Bopt, 29
Det 2
Oct Oct. 8
Oct.
Ort.
10
Oğl
'030
Mauritiu
singapore, Djakarta. Semarang.
*TJILUWAII**
Oct.
10
*TSIPANAS" "RUYE" “TJIWANGI"
Oct.
17
Зарам
Nov.
Nov.
"TAIMAN" "TJIPANAS"
TJISADANE"
Nov,
Nov.
Nov.
"THIYANGI"
"BOISKEVAIN" *STRAAT"
MAKASBAR" "TJFONDOK" **TIBANTJET" "TIMENTENG"
"TLUWAT" way annually
the Japanese Government would attempt to set the trade volumo between the two countries at $20,000,000 cach in order that dhe dollar open account will work without leav Ing Japan with a large over- balance,
Much will depend
on how much rice Italy in prepared to export to Jupon, he said.
Meanwhile, the Foreign Office refused to comment on Press reports that Japan and Italy are signing a provisional treaty of commerce and navigation probably by the end of this month.
Prese reports said the treaty contains provisions for most
nation treatment favoured
Router.
TEXTILE OUTLET
Osaka, Aug. 26. Osaka collon textile exporters have urged the newly-appointed Japanese Ambassador to Pakis- fan, Mr Kiyoshi Yamagata, to de his best to develop Pakistan into a major outlet for Japanese tex- tile goods, the Press reported today.
Aug. 27
Sept 5 Nept. @
Bent. Sept. 9
Bept. 10
Sr. 12
Djakarta. demarang. Burabzin
Маслид
RENCASSET.
Jupi
*
From
Somatang.
Burabola, Djakarta & Singapore
#. America, B. Africa, Mauritium,
Singapore & Manha
JADEN
Indonesian Poria
Japan Macassar..
Aurabals, Hemarang,
Diskarta & Singapore
KING'S BUILDING, Ground Floor,
TEL. 28015/18.
CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS, 31190, 25113
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "TREIN MAERSK❞
ARRIVALS FROM U.S.A.
M.S.
PETER MAERSK"
Ex-
M.S.
"NICOLINE MAERSK"
M.S.
M.S. "ANNA MAERSK❞
M.S. "LEXA MAERSK❞
Mr Yamagata, now on a four of Japan before leaving for his now post, was asked by porters to negotiate with the for the Pakistani authorities establishment of "branches Japanese textile firms in Kera- chi and other cities because the Pakistani Government favours allowing branches of Japanese firms dealing in capital and construction materials.
Referring to the deadlocked negotiations
оп raw cotton the Purchase,
exporters told the Ambassador that he should rot misjudge Pakistan's potentialltles
# stabilised market for Japan on the basis of "what is seen and heard ut the present moment".-France- Pressc.
ts
The Rubber
Markets
London, Aug. 25.
Prices of rubber futures
Number. 1 rubber, per Ib.
September
October/December
January/March
United Prem.
NEW YORK MARKET
New York, Aug. 25.
Prices of rubber futures
Sept. 2 Sept. 15 Oct. 2
"NICOLINE-MAERSK”.... In Part Buoy A-2
Oct.
Sept. 19 2
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel. Nos. 86066-9.
natin.
Dates, and rotation subject to change without
PENINSULAR
QUI
SEPARABL
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CORFU"
1.63 asked
30-day futures 90-day futures
2.751
1.78
2.79
030035
1455
.00201
7335
2037
0010
.1435
closed today as follows:-
0350
Spain
in pence
2012-2
Sweden Switzerland MIDDLE EAST
1835
2014-12 24-2112
2.3312
April/June
23-231%
03125
2.70%
.1575
0725
0350
0103
1,00
closed today 90 to 130 points lower with sales totalling 80 SAILS: contracts. Easiness in London
1104
.0044
3100
0003
and Singapore, plus continued lack of factory interest, spurred liquidation and a hedge-selling
2002
September
October
1750
,0000
November
December
22:00
360 yen to US$1 United Proj.
January (1033) February
25.50 nominal 30.23
March
April
May
Juna
July
25.40
August
25.12
September
October
22.08
November
24.30
Spot
21.24
Iron Age, metal-working trade Egypt weekly, referred to "the next Tran round of inflation" and said the tran
Turkey entire cycle was started by "the LATIN AMERICA super-generous ware increase
Argentina rise suggested by the Wage Brazil
Board" in the steel Boilvia Stabilisation
Chile industry.
This
Colombia boomerang will increase Cuba sts to thousands
of mana- Mexico facturers," Iron Age vald, "and Peru
Uruguay now threatens to afflict many Venezuela with higher wage contracts. FAR EAST Whether subsequent indiation will | TRAI
costs
be moderate or sleep is guess-Pakistan work."
Factors helping to hold ag gressive selling in check in- cluded the continued hot and dry Texas weather and the un- volume of light
Census Bureau The ginning through mid- at 442,430 bales or an August increase of 268,083 bales over
tors, washing machines and other August 1, but showed a sharp reduction
home appliances are compared with the
going up 653,153 bales reported for the same time last year.
Honghong Indonesia Inflationary indications closer Singapore
included such Japan to the consumer items price
la increases carpets, higher rates for car lability insurance and indica-
tions that the prices of refriger-New York Sugar
soon.
to
the
Running contrary general trend is an item from New England.
vill, Fla., Fargo, ND., and gelatines and puddings, lard and other quarters said it is too earlyants agreed to accept pay cuts.
Futures
movement,
21.75 bid 28.00 nominal 17,42
20.76 bul
23.00 bid
23.75 nominat
$25.50 bid
23,45 nominal
-United Press,
LONDON TIN
New York, Aug. 25. World sugar futures closed unchanged to 3 points lower with sales totalling 12 contracts. Contract No. ◊ closed 1 higher with sales totalling 15 contracts.
Prices closed as follows:-
Contract No. 4 (world)
4.05 nominal 400 bid 200 nominal this morning with turnover of
2. Relieve grocers of calculating so long as it does not exceed the Individual ceilings on the Items ceiling. which must be posted.
food Items on Among the Ellis which ornet
cellings will be
dairy Aro
products, coffee, cocoa, biscuits flour and four
In view of the large crop pro- and meals mise this year, the difference
At Pawtucket, R. 1., some was rather surprising. However, 2,000 workers in two textile Freme, Calif., and has proved a shortenings,
mayonnaise success, Both consumer and trade i salod dressings, spices and to draw a definite conclusion on
A CIO textile workers official groups have asked that it be con- seasonings, pet
milic, that score. More interer, were foods, tinued, OPS officials said.
sald 1,750 workers at one plant syrups and many canned soups.
directed toward Now the programine
thetook an eight and one-half cents being will be
will not include Government crop report of Sept. hourly cat extended to 52 more areas, In The ceiling
and 250 at another the which 75,000,000 people do their fresh, frozen and canned fruits 8. The deterioration in agreed to a nine-cent-an-hour October
Cst because.
the shopping
and vegetables, which
is expected to be im- said about 40 per cent of longer wubject to price controls. OPS
These roductions ard in line July portant yet other quarters feel the approximately 5,000 items These items, making up
that af a sold by grocerS
will be eligible estimated 21 per cent
the improvement in the for selection for price posting.
food family's
costs,
were Eastern and Central belts since the last Government report will however.
be a compensating factor. Meats account for the remain- will
The celling its showing the ing percentages of food items.
The community pricing pro- seiling food Items in a particular gramme will not immediately community.
require pablle posting of collings Under the new method, OPS on boot, pork, veal and other field offices will determine menta OPS hopes to have meat points higher. Prices closed to
dre no
Not all of them will be empted by Congress on July 1, :
OPS district
on about 300 of the best-
of
un-
markot opened changed to up 13 points. It rose to net gains of 15 to 28 points, then casod to close only 4 to 11
wholesale
ceiling's ́costs in the area and
postel
day at follows;~~~ eventually
must label on Spok then apply the species mark uby: Thi will provide the uniform the selling price on meat disctober celings which will be printed on played in counterenses. clikits and delivered to the Will continue to do so, and inust groods for public posting: |not sell for more than the celling Generally, OPS said, retall | in their area. Aksociated
Press, prices, will not be affected.
Butchers now
$50 nominal
38.30-18.51 3843-30.48
pay cut.
-to
September
January ΜΑΤΕΠ May
да eight and one-half | September with Cont eut by
arbitrator Spol Fall River and New ·Bed-} November ford, Mass., texiko workers to place the mills in a better com- petitive position with Southern plants-Associated Press.
JAPANESE BONDS
Japanese batām,
They December
Monch Hay July October December
20.10
20.70.
Consols
United Pete.
London, Aug. 15.-
M
(54, 0f 1910),, : 08; (4. of 1997).. 1244 158, of 1931).. 93 (Dīša, of 1930) 1851)
w-Unitad Press,
March May July Beptember Spot
MARKET
London, Aug. 25.
The tin market was steady
75 tons of which 35 tops were
3.03 nominal | for cash. Prices closed at the
end of the official
9.00 Dia
Contratt KA, GÜ
JDE DIJ
4.01
0,97 Dia
8.58 bid
5.12 båd
Unified Prem;
Exchange Rates
jmcasion as follows:-
Spot tin, buyers
Epot in, salfors
Business done at
Tinee-moniitä tin, buyerD [Three-months tin, welters
Business done a Bottlernent
Buses was done, in the oral thomcial exchange market ป Tortung: mi the fällowing, zatest-
0.00 U.8. dollar (per: 81) Sterling nale (por({1}
| Blam:ticala (per 100)
18.63
Indostala guilders (per 100) 20,00 H.00
* Amgupoew · (Straits).
FIC plastres. (per 100)
11.00
morning
United Press.
Copra Quotation
100%
New York, Aug.” 25. „Cópra „was quoted today at $140.00 per short ton, asked. Cocoanut oll was quoted at 0 sents a pound, arked-United Prcco,
NOTICE TO PASSENGERS
BAGGAGE:
THURSDAY the 28th August at 12.00 Noon for the UNITED. KING- DOM via 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 WEDNESDAY the 27th August,
1962.
SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co's Godown for loading on board by ship'a slings only.
EMBARKATION: Will take place THURSDAY, the 28th August, 1952 between 9.30 am, and 11.00 a.ni.
Business Cards?
Orders Completed
In 24 Hours
The South China Morning Post
PRINTING DEPARTMENT.