Y
THE CHINA MAIL, THURSDAY, AUGUST 28, 1952.
MESSAGERIES MARITIMES STRIKE POLICY FALLACY
MOM
Arriva
"GRENOBLE” (A...Sept.
**LA MARSEILLAISE” ..sept. 15
*TALAISE”
**COURSEULLES"
Leaving
..Sept. 23
Apt. * Sept. 10 Sept. 1
Sept. 10
Sept. 11
Supk, 17
*
Oct.
LA MARSEILLAINK” ..sept. ze +"GRENOBLE”
...Oct.
For passenger and freight.
MAmerican Steel Walk-Out A Typical Case
Outward For
Japa
Tokohama & Kofa Japani
Homeward For
N. África & Europe Magpofiles via Bulgon d N. Africa Europe
↑ For freight to Salgon, Alexandria, Genoa, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdamo. Accepting cargo:
-Via Marseilles to all Mediterrancan & West Africa Porta. -vla Djibouti to Madagascar,
Kubject To Change Without Notion,,
CIE DES MESSAGERIES MARITIMES
P.Q. Box 53, Hongkong
Queen's Building (gr. floor)
EVERETT
Tel. 26651 (8 lines).
LINES
EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Slata, Malaya, Burma and East Coast Indian Ports.
"NOREVERETT”
Arrives Sept. 5 from Singapore. Sails Sept. 6 for Japan.
"REBEVERETT"
Arrives Sept. 10 from Manila.
Salls Sept. 11 for Singapore, Penang,
Rangoon & Calcutta.
(Accepting carzo for transhipment lobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Slam, Malaya, Ceylon, West Coast Indian and Persian Gulf Porta.
FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI”
Port
Arrives Sept. 4 from Japan. Sails
Singapore, Sept. 5 for
Swettenham, Madras, Bombay,
Colombo,
Karachi, Basrah Kharramshahr.
M.S. "STAR BETELGEUSE"
Arrives Sept. 9 from Singapore Sails Sept. 10 for Kobe & Yokohama
(Accepting cargo for transhipment Kobe/Puma and Kobe/Oklisawa)
EVERETT STEAMSHIP · CORPORATION 5/A Quson's Building, Telophone 31206. Chinese Department: Telephono 28293.
&
Active Trade Mixed Trend
In Cotton
In New York
New York. Aug. 27. Colton market bulls fastened their hold on the situation.
In Grains
Chicago, Aug. 27. Chicago grains were mixed generally, with a slightly higher avertone stemming from the strength of vegetable oils whilo most other major commodities showed a higher trend generally. Wheat closed today 10 higher and soybeans were 1% to 2 higher.
In active dealings, prices pushed. ahead from the start to finish almost on the tops and up as much as $1.80 a bale.
Concern over the crop situa-Spot tion
the generated
power.
Prices closed today 403 follows:-
Wheat-price per burhel September lifting December
Atarch
May
The failure of hedge-selling Com 10 Increase material after Spot
September 'October crossed the 30.00 cents December
March level made bulls more daring.
At 30.20, October was at its highest level since August 8
The market opened up 3 to
11 points and closed 6 to 38 poln's higher.
Pricea follows:
Spot
-October
Decarbor
March
May
July
October December
closed
today
49
40.10 nominat 39.20
30.05-28,07
34,00
34.01
33.77 bid
United Prem
LONDON TIN
MARKET
May
Rye
Spot Beplember
2.28-2.014 2.3014-7
1.0419-1.0512 1.7015-2 1.73-
10414 1971.
1276-81 pat September
07-0734 New York Hour-er 200 lb. Sack. 12.10.-Unlied Prem.
New York Sugar
Market
New York, Aug. 27. World'sugar futures closed to- day 1 lower to a higher with cales totalling 49 contracŢA,
Contract No. 6 closed 1 to 3 points higher with males totall- ing 202 contracts.
Prices ckned today 46 follows:-
Contract No. 4 (World)
September
October London, Aug. 27. The tin market was steady January
March
but viktimlly Idio with turn-May over only 10 tons, all for Jay forward. Prices closed at the September
Spot end of the official morning
session as follows:-
4.03 nominal 4.00 bi
356 nominal
3.33 Bld
...
201 Dominat
301
4.07
Contract No.
Spolin, bayars",..........
Spit Unbellen
90-4
Duvirions dorsé að
ThưOn the tin, buyere .. DLS
Three-monthe tin, soliera zv. pep Bus crónid, at
Ballethorit
D43 903 United PrUM.
November March Magy
September Spot
4.7G
· B.24 morninni *0.98
United Pre
Filipino Trade With Japan
Manila, Aug. 21. Now is the line for the. Philippines to consider possible expansion of trade Зарап, ас- relations with Gardins to Dr Roland Reune, Chief of the United Пепле, States Mulcal Security Agency Mission, who re- furned here today from Jagrat
Today, Dr Renne said, Japan was exploring every possible
for raw ROUTCO materials to feed her CX- panding industry and wanted contracts and trade Agreemenis with other countries-Reuter.
British Car Sales Drive In Canada
Toronto, Aug. 27.
Grave Effect
And
Effect On Industry Country's Economy
London, Aug. 19.
A spirit of moderation pervaded the deliberations of the Confedera- tion of Shipbuilding and Engineering Unions in its approach to the problem of wage increases.
Two factors may well have contributed to this; the firm hand of Sir Walter Monckton at the Ministry of Labour and the refusal of the rank and file of the union members to be stampeded into premature strike action.
It is perhaps too early yet to dogmatige but it would esrtainly seem that the day of the "show of hands" at unofficial meetings fostering strike action seems to be nearing an end.
the Second World War and by resistance under the Colombo the destruction of the ten planta- Plan is expected to go for to re- tiens in Indonesia by thehabilitate this S. E. Asia country. Japanese, and by the bulk purchase system of the United Kingdom are
now past, and difficulties and more difficulties seem to be ahead of the ten in-
The cumulative effect of strikes on industry and the country con- cerned is well summed up in the current monthly letter of the National City Bank of New York, commenting on the settlement of the steel strike: "The feeling of relief with which the settlement of the 53-day strike was grect-dustry of Indla." ed," the review observes, tempered both by sober appraisal of the effects of the long work stoppage and by realisation of its utter needlessness.
tons
"AL Cost of nearly 21 million DES of ingot steel, and the equivalent in the innumerable products variety of fabricated which American industry re- The second biggest marquee inquires for its operations, the steel the world, smaller only than workers Bained
wage increase with ad- Barnum and Balley's circus big of 16 cents an hour, top, contains cxhibits by British ditional fringe benents of about
This for the Canadian 54 cents. car makers
wage increase in essenco had been available to National Exhibition.
So that nearly four million them for the last three months. people expected
visit the They also won a modifled form to exhibition may be convinced that of union shop, on terms available British cars in Canada are here for their acceptance some weeks to stay, t the British makers joined before the anal settlement. together for the biggest show "Even now, as the steel mills they have ever staged hero. return to full production, stocks
The range of nearly
every
in mlil yarda begin their travels
PRINCIPAL FACTORS
per
lb.
of
the
A
CETLONESE ACTIVITY Meanwhile, Ceylon pursues her foreign trade activities, her ex- ports being chiefly tea, rubber and coconut. Judged by thes commodities, 1951 was a good year for Ceylon. Exports and re- exports totalled Rs. 1,904 million and Imports Rs.1,550
million. On
had these figures, Ceylon
trade balance of Rs.845 million, as compared with Rs.390 million in 1950.
Among the features in Ceylon's pattern of trade now are (a) re- appearance of Japan as a source of textile supplies, (b) decline fr exports (principally rubber) to the United States, (c) develop
a market ment of
of Germany as
heralding a revival exports, of Imports from that country. Ten headed the list of exports, totalling 320 million lb. and, valued at Rs.804 million against Rs.755 million in 1930. Rubber Rs.682 million shipments were against Rs.405 million, although the U.S. purchases have in meantime fallen off heavily.
for
From the Indian point of view, the main factors contributing to the difficulties include the reduc- tion of the U.K. subsidy of la favourable
ib. to
8d
in per
and 1051,
the September, subsequent abolition subsidy entirely in March of this year. The burden neeruing from this was to be thrown on to the British consumer who, however, within the past week or so been presented with a a reduction in price of up to 4d 1b.
per More reductions should follow; cost of shipping is tumbling down, and that cost should be translated into lower prices of imported goods in the near future, the index of tramp ship
a peak ping having fallen from of 2038 in May, 1951, to 00.2 last month. But perhaps the price of
tea is the
disappearance of the bulk buyer and the entry into his own of the free enter- priser in the International tea
British car from $500 to $5,000 to manufacturers and bullders; main reason for the fall in the|
WIN
will include the first public showing anywhere of the £5,000 North Amercin of the Rolls Royce and Bentley tourers.
Daimler tourer and the first in
Josses
and ore shipments resume, the long-range effects of the pro- duction cannot be assessed. Stock piles of steel and of steel parts and components, built up to ensure continuous and enclen! markel, ending the "halcyon The Pily attending her ex-
Since the war one in every 10
production, have disappeared or new cars sold in Canada has been British but sales have slumped become so unbalanced as to stop since the imposition of the anti-
production. Many manufactur- dumping taxes last year that
ing firms have Installed ope
closed down or resulting in £800 model wage losses
cura raised prices on a
operations,
10
of a by as much as £150.
upwards workers outside the British sales dropped to 12,317 million
The next few units in the first six months this steel industry.
weeks will bring further curtail year, compared with 34,329 units for the first six months of 1951.
ment in plants which to date. have maintained production from stocks but must now wait for more steel or for parts from seriously hit suppliers."
steel Industry, that The U.S. country's economy, the financial standing tent to
At the same time American sales have almost doubled with the abolition of Canadian restric- tions on spending in the United States.
in the big
Now the British have joined together borrow the circus tradition of staging the "greatest sbow cn carth." — London Express Service.
U.S. FIBRE MILLS ON FULL SHIFT
of
employers and workers all have been affected by this "heedless" 53-day strike. Millions of dollars have been lost. The strike in fact, as needless and as senseless as the two weeks' strike in one South
The United Kingdom. led all export markets; the purchased half, by value, of all exports to Commonwealth countries, almost one-third of Ceylon's total trade.
days" to the producers of India, ports
Ceylon to increase and other Eastern Imports by Rs.392 million in
her Ceylon countries.
1951 over the preceding year. World production of tea is The U.S. supplied over 20 per currently at 50 million b. In cent of the Imports; Burma came Decreased excess of world consumption; second as supplier. that in itself is another
sales
of ten and rubber to the to India and
United States meant lower dollar Un- Cerion.
Indonesia, earnings, with the result that fortunately,
also,
trade balance, in which had a pre-war production a favourable of 109 million lo., has currently 1950, fell from Rs.379 million to regained half of that crop, East Rs.181 million in 1951. This is Africa is steadily increasing pro- regarded, and hoped, ELS duction to 37 million lb., Formosa abnormal, and there are prospects has passed the 1939 Agure of 282 of improvement in the trade with million 15. to 28.7 million lb., the U.S.A.-Liverpool Journal
are ap Indo-China proaching pre-war gure levels, Iran's has, risen from 1.9 to 11.4 million b. between 1939 and 1931, and is expected to supply the home rmarket entirely in ave years' time. Other countries de-
Ation
And
Wales coal mining area, involving voting attention to tea cultiva- a loss to the men alone of £10 on are Malaya, USSR., Tur- million in
key, B
Brazil, Wagos, over the Belgian Congo B principle of an insignificant in- Argentina, along with Mozam- crease of personal transporta bique and Mauritius,
tion cost to and from the pits amounting to about sixpence per week per person.
in
of their Overseas
area
The whole situation presents 1944, when India and Ceylon a volle face from conditions of
held what was to all intents and purposes, a world monopoly and
imposed an export and excise duty on their tea exports. The cost of production must brought down-but how?
be
BURMA'S REVIVAL Among the South-East Asian countries, Burma, one of the most prosperous, has signifled her device to assist in the prosecution of the Colombo Plan. She has
of Commerce.
HONGKONG SHARE MARKET
(From Our Correspondant)
business on the Volume Stock Exchange this
morning tofalled $174,484. Noon quota- the morning's trans- tions and actions SHARES DUYERS SELLERS BALES
BANKS
Je
150
1.00
1K Bank... 1420 East Asia... INSURANCES
Valon... SHIPPING
Asta Nav.. DOCKS, ETC."""
K. Whart N. PL. Wharf 0.35 0.53
***** 18.ED
13
B Dock...214 LAND, ETC.
Wheelock .***
EK Hotel
HI L (0) 40
143
40 100 9.4331⁄2
6.40 6.00
HIK Land (N) 4334
100
281
Shai Land.. 1.35 300
Humphreys. 14,70
trylleries
1.30
Tram XD 18.40 18.60 3000 @ 161⁄2
2. Tran (0)
P. Tram (N) 132
Star Ferry C. Light (0)
100
03/
DIRECT HEADING All labour disputes, with or without ulilmate Increases in New York, Aug. 27.
abre wages, have a direct bearing on America's synthetic
the tolls are again working on a the exports position of full shift basis--for the first United Kingdom, creating more and more difficulties for our time in nearly a year.
Man-made Aibre shipments, manufacturers and shippers while still far from the peak selling their goods at less cost
than those reached In March last year, aze elimbing fast, trade
sources competitors.
We are all importing more had, however, to accept E.C.A. report, in an effort to catch up with
the long-delayed, textile then we export and scom to be
approaching a position of "lose assistance to repair the part of picenta of
rayon
and and less exparts," although this Rangoon and five of her nearby smaller ports. Last year the scotato in June totalled 6.8 may be caused not so much by
total seaborne trade of Rangoon million pounds, on increase of
a slackening of efforts but by the
was 1,901,108
exceeding reductions imposed by Common-
Lons, 15 per cent over May.
that of 1950
by 320,000 tona. and steritag July shipments are expected wealth
Meanwhile, the cont to show an even larger advance countri
Exports
rose from 1,010,000 tans of our imports is rising. Beef, to 1,200,000
4,000 tons, creditable over June..
be mutton, lamb and dairy produce performance bearing in mind that Producers are reported to
the reconstruction work under hopeful of
Zealand and Aus- maintaining full from New
only in the capacity operations through the tralla alone have been contracted C.A. ald started
course of last year. at increased prices, costing as rest of this year, at least.
The # 1874 per cent more.
rice trade is, of course, And their long range outlook much
tho backbone of Burma's this state of is highly optimistle Associated Perpetuation of
oconomy, alth
although offairs will have serious Press
exports of con-
In 1951
were sequences to us at home and of that commodity
tons, the host unsympathetic towards only 1,250,000
against a pre-war total of 3,600,000 tonsa decline which has
welghod proposal before heavily on the
of subcontinent the business community hero that free enterprise be invoked India in post-war years.
The
ather main exports of to aid our position in E.P.U..
the Burma, timber, minerals und vll, that is, our trade with the
remain New York, Aug. 27.
much below pre-war Railwaye led the stock market
Recent agreements with today. There were moderately
the Burma Oil Company hold out higher prices, ranging from frac purchase in dollar countries and the hop
in Europe, a a share, dollars tions to two
a triangular form the hope of a speedy revival of
with the
export of
of oil. Des- the the country's throughout the Ust. A total of of trade at variance 000,000 chares was traded.
systems dislocation of transport and
pito bilateral 1
Business was done in the local activities, Bura
Unofficial
market by the Socialist Govern-
exchange achieved during and airerans joined the railwaya ment. Free enterprise jumped at favourable trade, balance of US dollar, (per )
the year a morning at the following rater
#4279 this opportunity to be able to Rs. 63 million, this in spite of flexing note (per t at the show what it could do for the
Indonesia guilders (per 100) 29.00 the absence of normal supplies Stom deals (per 100) stood as good of the country, but the
of rubber as one plantation-after Slugapore (Stralia) Bank of England how hina 273.84 decided
to go slow for the other fell to insurgent occupa-PIC plastre (per 106)
New York Stock
Exchange
us abroad."
There was
European countries. Under this lovels.
scheme the British trader was to
Some steels, cars, petroleums (Diisheet
in the advanco.
und of the
Dow Jones averages
session
follows:-
30 industrials
20 rails
ns.bustlep
101.00 60.05 0853
Copra Quotation
tion.
Bu
Page
ROYAL INTEROCEAN LINES
HAILINO'S.
Stagapsis,
*TJIWANGI"
"TJIPONDUZ".
"BOISSEVAIN"
*STRAAT
НАВЛЯЗАП" TSHANTIFTH ***THENEND” *FINÁDÁNT” *Y SILUWAES"
"VAN HEITSZ"
"TJIKAMPEE"
Brit.
Sept. 7
Dijakarta..
Manila
Begt. D Arp Ja flap. 11
Brph. 15
Hept. 10
Sept. 18
Oct.
Oct. "
"
JADER Лятал
out.
D
10
Och, 12
Oct.
14
**TSIDAĦAR.
Oct.
Nov.
*TJIWANGI" ·
Nay,
NOT.
Nov.
Nov.
"TJISADANI"
TEGELBERO" **STRAAT
MAKASSAR”
"VAN REUTRE" "TJIBANTJET" "TJIBODAS"
*T-IILUWAIT”
*TASMAN "TJIFANĀS"
*T31SADANE"
"TJIWANGI"
"BOISSKVAIN" *STRAAT
MAKABHAN" UTJIFUNDOK" "TJIBANTJET
*TJIMENTING"
TJLUWAR"
To
SERRATURE,
menátske,
Dakarta,
America
Surabata à MiensLP
Singapore. -Mauritius
8. Africa & B
Japaia
Je par
Manila. Bing#dáře,~ R. & B. Aften Hingapore, Penang & Relawan Dek Ringapore, Djakarta, Bemarang,
· Purabila a "Macauiar Jaban
Djakarta, firebon, SemaisAg,
'Kuratata di Metastar
Hingapore, Djakarta, Bemarang,
Kurabala & Markojar
Singaporo, Statistics,
8. Africa & S. Ameries Bingapore, Penang & Delawan Def Manila, Bingente. ¤, & 8.. Africa Djakarta, Tincton. Semarang,
gprabafa à Marasinë
Singapore, Djakarta, Semarang,
Gurabala & DIACARIET..........
JAPEN
ZADLA
Djakarta. Semarang,
Sutabala & MAZANING
Singapore, Penang & Delawan · Dail Djakuria Bemarang,
MACAF KNX
Singapore, Mauritius, B. Atries &
8. America
Singapore,
ARRIVALS
Aug. 20
RepL 4 Sept. 8
Beyt. Bapt
Surabala A
From
Semarang.
Macatur, Rurabala,
Djakarin Singapore
Ispan
9. America, 8. Africa, Mauriting,
Singapore & Manila
Japan
Tydensian Porta
Sept. 10
Japan
Sept. 2
stacassaz, Aurabala, Semarang,
Djakarta & Singapore
KING'S BUILDING, Ground Floor,
TEL. 28015/18,
CHINESE AGENTS: 12 CONNAUGHT BD. C. TELA, 31196, 25133 -
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, "BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS ANGELES AND PANAMA.
M.S.
NEXT SAILINGS
TREIN MAERSK” M.S. "PETER MAERSK”
M.S. "NICOLINE MAERSK"
2 Sept. Sept. 15
Oct. 2
•
Also accepting cargo for Portland ARRIVALS FROM U.S.A.
M.S. "SALLY MAERSK"
Aug. 30
M.S. "ANNA MAERSK”
Sept. 10
M.S. "OLUF MAERSK"
Sept. 22
For Freight and Further Particulars please apply to:-
AGENTS:
JEESEN & CO.
Dates and rotation subject to change without notice.
Pedder Building,
Cotton
Board
Prediction
Supply May Again
Exceed Demand -
Washington, Aug. 27.
Tel. Nos. 36006-9.
RUBBER
FUTURES
IMPROVE
Singapore, Aug. 27. There was .some further liquidation but on the whole there was better trade buying and the market closed steady, The supply of cotton in non-Prices of rubber futures clored Communist countries during the today as follows!~~ 1952-53 season may again ex-Number 1 rubber, per Ib. ceed demand, the International October Cotton Advisory committeo November predicted.
The
September
Number 2 rubber,
September
Number & rubber,
September
Number rubber,"
September
committee, which repre sents 27 cotton exporting and importing nations, estimated the total supply for the season which ended on Aug. 1 at 38 Epos ruber, unbaled million bales of 500 pounds.
No. 1 pale crepe worldwide textile slump
caused
umption to drop: sharply, the committee reported. Leaving about 13.8 million bales of cofion on hand at the start of
the new crop year.
Banket crepe
7021-79
704-70
78-2-70
724-732
6731-0834
64-00
7016-79
08-59
00-104
-United Press,
NEW YORK MARKET
New York, Aug. 27. Prices of rubber futures closed umthanged to 20 higher with sales totalling 97 contracts. The first evidence in a long time of previous year by 1.3 million bener inquiry fram leading bales in the United States, 400, manufacturers had a steadying
Demand was down from the
C. Light (1) 5.00 6.0 50 5.90 000 bales in the United Kingdom influence at the close. Prices
and 300,000 bales in Japan, the closed as follows; 49 23.39
Electria
..... 22.40 Macso Elec. 1015
17.10 To epheme INDUSTRIALS
Cement....... 16.00 27,10 300 a 17
10 STORES, ETC.
Dary
Watson.....
Crawford C. (ts-2 COTTONS
Ero
18.00
37 37.20 100 @ 27.10
300 27
2.40
Exchange Rates
10.02
33.00
10.17
11.00
Linseed Oil Up:
moment.
What free
Timber production went up. can do is enterprise 40 benda
Asociated Press and United shown in the change which has Some, 65,000 fans arrived in come over the international tea Rangoon by the Irrawaddy river
New York, market, and its effect, already and other routes: 40,000 tons of
Aug. 20% Prices of linseed oil have beedi Home teak were exported from the port evident, in the British
-Addressing the
annual de prices, during the carller part rulsed à cent to 104 cents a Romeral meeting of the Indians Tes of me year which tooched an pound, New York, delivers, in
•New York, Aug. 17. Cours was quoted today. at Planter; Alaodiation, Sri all-time peak. Timber production tank cars, effective on the open $102 per dhort tor-nomusal. Birendra - Chandra! Chode, the on the whola' is not favourable ing business day on Thursday, remarkid; "The for the immediate Cocoanut oll was quoted 0%1⁄2 chairman,
'future; only) The advance followed the high- cents a pound, nominal United halcyon days offered to the ten three out of the 31 forest areas er prices for cash flax seed et Prett
industry of India and Coylon by are
operate, -- but ! Minneapolis,-United Presa.
oble
to
September October.
commitice re
Added over, which is about 2,5 million December
reppurent carry November
to the
ales above the stock reported January (1053)
year ago, will be production of February about 27.8 million balce in the March coming crop year-about the y
April-
same as last year the committed June July estimated, this will bring the Aust
around 41.5 September total supply to million bales. Consumption last October season totalled about 20 million November
Spat balce.
Just what the Free World will
this 41.6 million balo
do
supply
With
is
commiller saki.
20.55 bid
29.05 nominst
27.55 27.03
1
26.70 nominal
20.45
28.20 bla
20.00 nominat
23.30 bid
67 nomina}
2015
25.45
240.15
24.05
22.73
-United Pres.
LONDON MARKET
London, Aug. 27. lpdetaminate." the Frices of rubber futures
cload today as follows:--- "Due to the extensive curtailumber 1 rubber, In pence ments Іл textilo production,''
per lb.
the committes said, "there are October few indications that the turning November December point has been reached, though October/December the situation in tho United January/March States and Japan has become April/June more stabilised." Prots.
- Associated
Tung Oil In NY New York, Aug. 27. Prices in the seeds and oils market here closed unchanged with the following exception:
Tung oil, in tank caro, F.O.D. New York, por lb. 3814 cents. ---United Press.
United Press
JAPANESE. BONDS
zapanese bonds
London, Aug. 27.-
"I" (be⋅ 1010) "", of 1010) "ET" BT. OF 1004)
Consola