MESSAGERIES
MARITIMES
MO M
*GRENOBLE"
Arriving
..Sapt. 0
**LA MARSEILLAISE” „Sept. 15
"FALAISE” .............................Sept. 23
"TAURUS"
+"COURSEULLES"
"GRENOBLE"
Leaving
Outward For
Sept. ⚫ Japan
Sept. 18
Mept. Ri
Aug. 27
Aug. 27
Sept. 10
Sept. 12
Sopi, 27
Oct.
"LA MARSEILLAISE", Stpt. 28
....Oct.
* For passenger and freight.
ย
Yokohama a Robo
Japan
Hotnoward For
feron a Truong N. Atrion ↳ Kurope Marsellies via Salzon
N. Africa & Karope
+ For freight to Saigon, Alexandria, Genoa, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:
Via Marsoilles to all Mediterranean & West Africa Ports -via Djibouti to Madagascar.
Bubject To Change Withons Nolics.
CIE DES MESSAGERIES MARITIMES
Queen's Building (gr. floor)
P.O. Box 58, Hongkong
Tel. 26651 (3 lines).
EVERETT
E
LINES
EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space available for Korca, Japan, China, Philippines, Indo-China, Siam, Malaya, Burma and East Coast Indian Porta.
"NOREVERETT”
Arrivos Sept. 5 from Singapore, Salls Sept. 6 for Japan.
"REBEVERETT"
Arrives Sept. 10 from Manila. Salls Sept. 11 for Singapore, Penang,
Rangoon & Calcutta.
(Accepting carzo for transahipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Slam, Malaya, Coylon, West Coast Indian and Persian Gulf Porta.
FIRST CLASS PASSENGER ACCOMMODATION
M.S. "THAI"
Arrives Sept. 4 from Japan.
Balls Sept. 5 for. Singapore,
Port
Swettenham, Madras, Colombo, Bombay,
Basrah Karachi, Kharramshahr.
M.S. "STAR BETELGEUSE" Arrives Sept. 9 from Singapore Salls
Sept. 10 for Kobo & Yokohama (Accepting cargo for transhipment Hobo/Puzan and Kobe/Okinawa)
&
EVERATT STEAMSHIP CORPORATION S/A -
Queen's Building, Telophone 31206. ́Chinesa” Department: Telephone 28293.-
Spirited Rally In Cotton
New York, Aug. 20, Cotton futures milled spirited- ly at the close, ending a session cf graduaty rising prices.
Shorts
Стор deterioration reports from Texas seemed to be exert-
and more influence ing more over market sentiment.
unetey in became increasingly face of the Texas and Oklahoma they movedi crop nows. When
Agreement On
Payment Of Pre-War Debts
Tokyo, Aug. 26. The Japaneso Vice-Foreign Minister, Mr. Shinichi Shibusawa, stated today that Japan and France had agreed that a "cer- lain sum of money" from Japan's balance (or surplus) in the trade open account be earmarked for preliminary payments of Japan's Pre-war debts to France.
Mr Shiburawn
to cover at the close, stiff com- specify the amount. petition was met from
trader
Interests for the limited supply
of contracts.
THE CHINA MAIL, WEDNESDAY, AUGUST 27, 1952.
European Trade With Brazil ROYAL INTEROCEAN LINES
London Stock Exchange
BUSINESS SHOWS IMPROVEMENT
A
over
(From Our Correspondent)
London, Aug. 26, Businces on tho Stock Exchango has shown marked improvement the last three working days, and brokers, aftor watching prices in all sections alide for many months, now hope turn has been
that the reached.
For works back investors and speculators have been idle, and brokers, who more often than not swim with the tide, have advised clients to delay their purchasca.
May Be Carried Out
On
A
Barter Basis
Rio de Janeiro, Aug. 18. There are indications that Brazil is consider- ing a resumption of barter trade.
Pressure is being exerted by Brazilian and European interests who see in a renewal of barter trade the means to sustain their market hero, to secure supplies and generally tide over the present altuation.
Official Brazilian views are divided on the malter,
but, meanwhile, Britain's competitors are exerting all efforts to establish themselves in the U.K.'s place in the Brazilian market. Authoritative observers here wondering just how long Britain can afford to continue her policy of "walt and sec."
are
monthe
exports around
British and Brazilian Interests. During the first six here, except for urging the of this year Britain's negotiations to Brazil amounted to necessity of trade Et official level, have put for £91m. (A good part of theso ward no real cohesive solutions came in under extended com- to the Anglo-Brazilian trade pentation licences granted Jast The market, however, is now problem.
The main items were year). showing a sudden liveliness and
But
whatever the official again machinery and vehicles, samo the tone has considerably im- British view may be as regards Britain's Imporis in the proved following its long shake-barter, it was, and many traders | period, on the other hand, out.
here feel it could be again, a dropped to £10.1m., of which means of restoring life to trade coffee accounted for just over between the two countries. £3m.
The improvement, led by gilt edged, is due to a number of reasons,
For one, slumps and booms are nearly always "overdone" and the bellot is gaining ground that the recent month's slide has also been overdone. Further, Jobbers, In view of the heavy fall in In- dustrials, have been bears of War Loan as a hedge against stock held on their books. And bears have recently been covering in view of the danger of being caught short.
GOOD NEWS
The small Invertor, who has been hanging back for a long time, in showing signs that he wants to "got in at the bottom". though the bottom may possibly have already been touched and passed.
Also, there is good news in the Treasury's monthly economic which stresses the
COTTON PURCHASES
Taipei Experts
For Japan
Taipei. Aug. 20, A troup of Chinese shipping and navigation experts headed by General Yu Fel-peng la to leave for Japan on Thursday for one-month inspection tour,
The
troup is comprised of
and representatives experts of the Nationalists biggest shipping companies and dockyards. — Unlted Press.
HONGKONG
SHARE MARKET
(From Our Correspondent)
AHARES DUYERS BELLERS BALES BANKE
Barter meant that Britain was
It is not clear what Britain's able to buy in Brazil at world prices, and la some cases at purchases of Brazilian cotton below current levels. More im- will be this season, if any, and portant, the British exporters normal sterling trade has de Business improved On the received prompt payment.
pended on
on cotton as dollars do Stock Exchange this morning. Today, Brazil lacks exchange on coffee,
with $100,032 worth of shares all over the world. The official British view cover
is changing hands. Noon quota- Sterling awolting remittance in that these purchases "are sub-tions and the morning's trans- August is estimated at around Ject to price. But the inescap-uctions:- £33m. As ragarda dollars, withable fact is that the price
almost im- Brazilian cotton, today
20 per cent, higher than prices, has little chance coming down. Paulista cotton is being bought up by the Bank MEETING SITUATION
of Brazil at a price which ex- To meet the situation Brazil cludes it from normal resale. faces either devaluation, a step
The only solution might be ter for which she has repeatedly de
de the proposed free exchange nied she
will take; free CX-
exports of certain higher-priced change for exports of certain
Brazil, howoVCE, LAND, KIC. tain commodities. goods; or a reintroduction
of still hopes to dispose of cotton barter transactions. At this in part payment of some of her stage it would seem that che
a tightening-up of dollar ports and with coffee shipments now moving, the position tends to improve slightly.
Lost
in the balance of Ƒ cannot quite make up her mind.
And
J
arrears,
of
US
JK Bank.. 3420
10 1434
of
INSURANCES
Unson..
150
SJILPPING
1.00
Asia Nov.. DOCKS, ETC.
1. Whart... 0814
1K Hotel
N. P. Wharf 0.40 8.55 Provident... 12.80 S'hal Dock. 133 Wheelock
4214 63
0.35 0.00
13
HK Land
(01
40 1015
de- CX-
(N) 76 437
100
Humphreys. 13.70
UTILITIES
Peak Tram
With her big plans for velopment and industriai pansion, Brazil is badly in need of capital goods, a wide rango thent
of engineering products and raw materials. Germany and
to a lesser extent Japan, and Italy, France and other Euro- are not only en suppliers,
goods but offering those also apparently prepared to dis- cuss with the Brazilians on the
Under the barter system in- Industrial companies, troduced by the former Govern- which over recent months have ment and discontinued in prin
early last year, been sellers of git-edged for ciple
between capital expenditure, have
now difference
the world price of Brazilian products and In the main brought this action 1o an end.
their
quotation internat
was 10
Finally, there are big Govern- passed on to goods specifically conversion operations imported against these exports, ment
amounted This difference looming ahead and the market anything from 20 per cent, to to 80 per cent. countries
Less than a year ago only 14 portunities for British than Brazil.
Brazil in 1051 Imported from Britain well over one-third as much in value as the US or and almost half as Canada, much as either India or New Zealand.
will have to be "preparod" for them.
In November,
£450 million of serial funding stock will be converted. In March, provision must be made for the final
of £522 maturity
million of National War Bonds,
NEW YORK
FOREIGN EXCHANGES
New York, Aug. 20.
US$1.04
Canada England-ofcia)
H
unomcial ....
30-day future 90-day futures
Austraila New Zealand
Spain
2.787 2.30 bid/ 2.63 asked 1.77-7/16 2.70-11/16
South Africa
Belgium
2.70 01
Dazumark
.1455
Prance...
.0020
West Germany
#2385
Holland
37
Italy
,0010
Norway Portugal
1405
.0350
0264
Sweden
1035
Switzerland
MIDDLE EAST
Egypt
2014
Iran
03125
Ireq
2.701%
Turkey
3315
LATIN AMERICA
would
not
Argentina
0725
Brazli
.0350
Holivia
0103
.008
Colombia Cuba Mexico
4025
1.00
.1164
Peru...
0044
Uruguay
3700
Venezuela
3003
FAR EAST
India Pakistan
2004
2025
3750
Indonesia Singapore Japan
0000
1200
340 yon to US$1 United Press.
Chile (Some tima ago Japan tet aside £20 million in London and $20 million in New York, to honour Steadiness of the other out-mark her intention to side markets alded the rally, her pre-war external debts. Also a feeling has developed
lull in textile
D
(Japan's pre-war debt to that the current
was temporary, that France is estimated at approxi- buying manufacturers were still under-mately 580 million gold francs tongkang
sustained Her surplus the trade open bought and that
withs France is period of stability in raw colton account will find manufacturers back estimated at £10 million. in the goods trade for more sup→ plies.
(Talks between British, bond and American
Trade reports from Memphis French
that area holders and Japanese Govern- New York Sugar said that fariners in wore selling about 80 per cent ment representatives on settle
governmentment of Japan's pro-war debts
of ginnings.
The
now proceeding
weekly crop summary was mixed are
York)-Reuter.
but was considered mostly un- favourable. Urgent demand for contracts at the finish followed
Spot
points. the Government summary.
It sald
the follows:-- that in Texas serious drought and intense heat generally caured the condition october of the crop to decline consider December ably. The Southern Oklahoma May drought sections also suffered July
October severely.
December
There was improvement in the castra and Middle sections but.
traders doubled
whether
March
in New
Prices closed today as
51.84
30.72-38.74 30.03-30.01.
33.40 37.00
Futures
offered bettor
op-
exports
Bre
Spot means to establish a two- U.K. ATTITUDE
way trudo,
A resumption of straight bar- ter dealing between Britain anti Brazil would be against, all the trends of the United Kingdom's current trade polley,
Such deuls are contrary to many international agreements and to the whole spirit of a liberalisation of world tratte and on these lines there is little hope of Britain changing her attitude that Brazil must bring
But today, due to circumstan ces, some of them admittedly inevitable and beyond control, Britain is threatened with 10s ing a market to a competition prices of her oxports into line which would seem to take with world prices. long-term results, 34 distinct Times,
from immediato causes,
Into account
more
U.K.'s TRADE POLICY Britain's trade policy towards Brazil is described as being ont of "wait and see.' The with drawal of cover by the Export Credits Guarantee Department of a ified as evidence
of
Financial
The Rubber
Markets
Tram XD. 10.30 18.00
(N) 13:
Star Ferry
est
100 100
C. Light (0) BB0 8.35 1300 8.80 CLight IN) 500
... 22.30 Macao Elec.. Telephone INDUSTRIALS
Comen. 16.00
1012 .. 17.10 1
0
200 22.40
17
600 10.80
000 10.00
Rope
STORES, ETC.
Dairy Watson
19.20.
10.70
2727.40 2111 27
"TJIWANGI*
TJIPÒNBOK"
"DOIGGEVAIN"
"STRAAT
__MAKAJBAR" "THIHANTIT "TJIMENTENG" "TJIBADANTS "TJILUWAI
"VAN HEUTEZ" "TJIKAMPEK"
"TJIWANOP"
*TJIBADANK" "TEGELBERO"
MAKABBAR”
*Maps.
Sept.
SAILING B
Singapore,
Beph T.
Dept. BOL. 10 Babt, 12
sept. 18 Rept. 10
Sept. 18 Sept. 2
To
BIMATANE,
Marabála & Mačacie Djakarta, Titrebon, BUKETARS,
Borabala Macarsar
Manus, Singapore.
Madelika
1. Atties à à America
JAPAN
Jepan
Manila, Singabote, E. & §. Atzich Hingapore, Penang & Delawan De Min part, 1)jakarta. Remarang,
Surabala & Macassar
JAPAN
Djakarta, Tiretrom, Seinatang.
Surabale & Macassar
• Bingapore, Djakaria,
Búrabíla & Mathiker Japan
Japan
.
Semarang,
·
Atantia, Bingapore, Mauritius
M.Africa &. Amarten
Singapore. Ponaḥg & Relawan Deli Marille, Singapore. §. & D... Afric Bjakarta, Titebon, Semarang.
Surabala & Mackier
Oct. A
Oct
Get.
"STRAAT
Oct.
"VAN BEUTIZ”.
Oct.
10
"TJIDANTJET"
Des.
10
"TINUDAS"
Uci. D
"TJILUWAN"
Oct. 15
"TJIPANAB" "RUYS" "TJIWANGI
Ort.
• Sxpan
Nov.
Japan
Nov.
Ningapore,
"TARMAN" "TJIPAÑÁƑ”
"TJIJADANE”
Nov.
Nov.
5
Nov.
9
TUWANGI"
"BOISBRVAIN" "BTRAAT"
זן
Яingapore,
Djakatin
Aurabala & Macar
Djakarta.
Mirabain Machtans
BOMAZEDS
Bematang,
Bingapore, Penang & Belawan Dell Djakarta Beniarang, Durabala a
Macascar
Hingapore, Mausklai, B. Afstra
S. America
ARRIVALS
From
MACKIJAT, Surabala,
Djakaria & Bingapore
• Japan
SEMATADE.
8. America, B. Africa, Mauriting
MAKASSAR" "TJIPUNDOK"
"TJBANTJET"
"TJIMENTENG"
Aug. 21
Sept. Sepi. 4
t Rept. 9 Sept. 10
JAPAN
Sept. It
Macasar.
"TJLUWAB"
Sept.
Aingapore & Manila
Харад
Indonesian Ports
jakarta & Bingapore
KING'S BUILDING, Ground Floor,
Surabata, Bemarang,
TEL. 28015/18.
CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS. 31190, 25131
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO;
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA. NEXT SAILINGS
M.S. "TREIN MAERSK"
M.S. "PETER MAERSK” M.S.
NICOLINE MAERSK”
M.S. "ANNA MAERSK”
'M.S.. "OLUF MAERSK”
ARRIVALS FROM U.S.A.
M.3. "LEXA MAERSK"
NON
Sept. 2
Sept. 15
Oct.
2
Sept. 10
Sept. 22.
Oct. 24
For Freight and Further. Particulara please apply to:-
AGENTS:
JERSEN
Grain Prices Fedder Building.
In Chicago
Chicago,--Aug.-26.
Chicago grains were generally mixed, stemming mostly from the weakness of vegetable olis while most major commodilles moved
Irregularly In
quiet trading with the balance slight by favouring the higher sido. Wheat closed Y lower to
** higher
soybeans were 34 higher to lower. Prices closed
and
today as
follows: Wheat-price per bushel
Spot
Maren (1983)
2.20-2.23
5.203 2.3931-** 2.4214-70
2.43
1.7846-12 1.7915-1 1.77%-
September
December
24-2614
May
24-2432
Corn
24-2432
Spo!
21-242
September
2355-25
December
23-2345
March (1833|
May -United Press.
1.78%
NEW YORK MARKET
Prices
New York, Aug. 20.
of rubber, futures
Rye Spot September Osta Spai
1.952-1.03 1.00-14
September
0316-77 656-14
of objectivity," and these views are, now being widely
London, Aug, 20. ochoed in the Press.
Prices of rubber futures closed Meanwhile, other European today as follows: countries are taking over from Number 1 rubber, in where Britain is leaving off, pence per lb, and trying
their October establish to
December
Delober/December position for the future.
already Japan,
has January/March Who
April/June favourable balance with Brazil of over US$10m., is negotiating an agreement which should this guarantee her a share market which otherwise would
ould closed today 20 points lower to gone to Ger- probably have
the 10 points higher with sales many. Japan will supply
US$35m. totalling 68 contracts. Replace- equivalent of over worth of machinery, equipment ment buying for technical rea
zons and higher cables promot- and ships in exchange for coted the early firmness. Prices
and other hides, confec
closed today as follows: agricultural products amounting September
20.63 bld October
3139 nominal 27,43 nominal A German mission is now in November Rio reviewing the whole ques December tlon of German-Brazilian trade January (1953)
February and Brazilian debts on what is March Hescribed as "a pre-determined April basis that this trade should not May
Juna suffer restrictions, much Icas
July interruption.
August September October November Spot
(to some US$38m.
PATTERN CHANGED The lists of goods to be ex- changed under the Brazilian- German trade agreement are to be reviewed as regards quan tities and Germany, Is clearly
trying to avoid an impasse such na is now faced by Anglo- Brazilian trade,
past
The pattern of Brazil's 1m- ports hor changed in the four years and Britain's exports to this country since 1948 are a
20ns bid
26.00 nominal
26.43 nomunal 20.10
25.85 nominai 23.60 bld 25.52 nominai 23.45 nominai 28.34 nominat 25.2% nominal
24,45 nomina! 27.75
New Tork Bour-per 200 1b, Back, $12.00.- United Presi,
LONDON TIN MARKET
London, Aug. 26. The tin market was steady in the morning with á turnover of 60 tons of which 45 tons wero for cash. Prices closed at the morning
25.00 nominal end of the official
Bessian as follows:- Spot tin, buyers Bpat tin, Bellers Business done at Three-months tin, buyers
-United Prosth
JAPANESE BONDS Three-months tin, sebers
London, Aug. 26.
Japanese bonds
"A" (98, of.1899) "E" (4 of 1810) "C" (43. of 1007) "D" (0s. of 1084) "E" (3s, of 1930)
Consols
2014
133
03
154
60% —United)Press. ›
Manganese In U.S.
New York, Aug. 20. World sugar future closed 1 point higher to 3 lower with zales totailing 20 contracts.
Contract No. 6 closed gn-
gaugo of tke trend. Whito in 10.50 nominal changed to 1 paint lower with 1940 six broad categories of
sales totalling 74 contracts.
goods namely, machinery; Price clomil today as follows:- vehicles; chemicals; non-ferrous Contract No. 4 (world)
metals and manufacturco; tools, 4,05 naked September
401 azked
cutlery and Implements; October
34 nominal steel-Becounted for 98 per cent. 330 nominal of imports from the UK, in 300 nominal 3.01 mathinat 1901 this proportion, had risen
to almost: 72 per cent.
shift is accounted for al .The most entirely by the intronso In imports of machinery and vehicles, two itere particular ped by the former, which are at the
35,85 bla 19.73 bid -United Press. NEW ORLEANS MARKET
betterment there could offset the Spot lapses in the Western belt. The October tendency now is to look for a pesenter s
March lower Government crop estimate | Mit-
July
on September 8.
October
The market opened up 7 to 10 December pointă und closed up 22 to 84)
38.05 36.77-35.79 38.00 $8,40 30.40-30,42 27.07 Did
35.00 Dick United Press.
January
March MAY... Jub September Apot, ki Contrapt No, d November Merci MAY
3.01 G
BAT
bid'
September Spot
0.12 nominal
United Prek
And
Busine dont at Battlement
003
9:0
-United Press.
Exchange Rates
Ikwinews was done in the local
Dielai exchange market morning at the following U.S. dollar (par $1) Sterling Note iper 411
Indonesia rullders (per 100)
Slam cats (per 100) | Singapore." (Siralls)
FIC piastres (per (to)"
this
Tates:-
0.43
18.23
23.40
34,00 (0,10 140
Copra Quotation
Santiago, Aug. 20. A shipment of 2,400 tons of manganeso to the United States -was- authorised by the Chilean Government today. The Minis try of Economy and Commerce
↑ New York, Aug, 20. said, the motel would be ship-|Gronto (van quoted today at $140.
from the
minesin per short ton, nominal, Cocoa- Northern Chile, mainly Id-nut'off' was quoted at 95 cents. top of Brail's list of priority Coquimbo provines. - United - pound, nominal - United.
Preas. Imports.
Press
& CO.
Dates and rotation subject to change
PENINSULAR
SEPARABI
Tel. Nos. 86066-9,
without notice,
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CORFU"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
SPECIAL NOTE:
EMBARKATION:
THURSDAY the 28th August at 12.00 Noon for the UNITED KING- DOM via Straita, 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,
1952.
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.
Will take place THURSDAY, the 28th August, 1952 between 9.80 a.m. and 11,00 a.m.
Business Cards?
Orders Completed
In 24 Houra
by
The South China Morning Post
PRINTING DEPARTMENT
t.