THE CHINA MAIL, WEDNESDAY, SEPTEMBER 10, 1952.
MESSAGERIES MARITIMES Singapore Rule Self-Help Plan
M&M
*"LA MARSEILLAISE" ..sept. 16
"TALAISE"
"COURSEULLE:"
""LA MARSEILLAISE”
"GRENOBLE"
+"FALAISE""
.Bogh. 27
Leaving
Gutward For
Bept, 17 Yokohama & Fobs Sept. 294
1
14
..epl. 7
Sept. 16 Sept. 28 Oct. #
Kazteward For
N. Africa & Maropa Marselilas vin Saigon 2. African & Karopa ...Get. 14 Oct. 27 N. Atzien & Enrope
• For passenger and freight.
↑ For freight to Saigon, Alexandria, Genoa, Algiers, Oran, Tangler, Casablance, Havre, Dunkirk, Antwerp & Hotterdam.
Accepting cargo;
via Marseilles to all Mediterranean & West Africa Ports. -via Djibouil' to Madagascar.
Bubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong
Queen's Building (gr. floor)
EVERETT
Tel. 26651 (3 lines).
LINES
EVERETT ORIENT LINE
Fast cargo and passengers service refrigeration space available for Korca, Japan, China, Philippines, Indo-China, Slam, Malaya, Burma and East Coast Indian Ports.
"REBEVERETT"
Arrives Sept. 11 from Manila. Suils
Sept. 12 for Singapore, Penang,
Rangoon & Calcutta,
"LENEVERETT"
Arrives Sept. 23 from Singapore, Sails Sept. 24 for Kobe & Yokohama.`
(Accepting carzo for transhipment Kobe/Posan and Kobe/Okinawa)
EVERETT STAR LINE
Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Blam, Malayn, Ceylon, West Coast Indian and Persian Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION
M.Ş. "STAR BETELGEUSE”
Arrives Sept. 11 from Singapore Sailo
Kobe, Sept. 12 for
Osaka, Nagoya, Shimizu. & Yokohama.
M,S. "STAR ARCTURUS”
Arrives Sept. 17 from Japan. Saila
Sept. 18 for Singapore, Port Swettenham, Madras, Colombo, Bombay, Kara- chi, Kharramshahr & Basrah.
(Accepting cargo for transhipment Kobo/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Quoen's Building, Tolophons 312065- Chinpsp Department: Telephone 28293.
Trading In German Issues Postponed
WORLD
PRODUCTION
OF COTTON
Washington, Sept. 9.
The International Cotton Ad- visory Committee predicts that world cotton production in 1952 will be somewhat less than 130 27,800,000 bales harvested the 1951-52 season.
in
Relaxed
Singapore, Sept. 9. Dierchants who agreed 10 sell hard currency goods to Thailand for Sterling which they should have accepted hard currency have been giyen permission to execute their transselfang.
"In relaxjpe the rule, the Bingapore Government said the merchants had in fact misunderstood present ro sulations which require that hard currency be paid for goods imported into the Colony from hard currency areas.
The Indian Chamber of Commerce stated merchanta should appreciato the Gov- ernment gesture and ther should now ry to clear outstanding commitments. -Associated Press.
British Warning On Japanese Competition
London, Sept. 9. The Daily Mail carried this banner headline today "Japan
Steps up Trade War
The first shots will be fired at the international cotton trading conference at Bexton, Derby shire, next week when Japan's 10 delegates plead for the lifting of textiles an embargo entering Colonial markets.
A spokesman for the British Colton Board said today, "Our delegates will
go to the
on their
con-
ference with a full sense at
responsibility to Lancashire" Britain's leading textile centre..
Mr Kennelli Boardmon, Manchester Chairman of 14 textile manufacturing firms, gave this warning: "Japanese salesmen are on the spot to wipe out Loucashire overnight,"
He said 400 of them had visited East Africa in the last six months quoting prices 30 to 50 per cent below Lancashire prices. "The position is the same in Malaya and Pakistan," he said.
The Cotton Board spokesman said that delegates to next week's conference are concerned abiqui the future of the Trade.
The aim of the conference "was to see what the future holds and to promote "orderly progress and healthy competition."
The conference is the first international "get-together" cotton trading since the end of the war-Associated Press.
International Harbour Conference
Tokyo, Sept. 9. Some 20 nations will send delegates to the International Harbour Conference to be held in Kobe for three days beginning on October B under the sponsor- chip of the Japan Harbour Association.
The conference is the first of its kind in Japon since the war, and will be attended by representatives from the United States
Canada. Korea, Taiwan, Hongkong, French Indo-China, Thailand, Malaya, Burmu, India, Indonesia, the Feyzi Argentins, Australia,
New
other
countries.
|·
For Development Of Ceylon
No Need For External Loans
London,
The Ceylon Government and the International Bank haye published a report by a mission which the Bank had sent to study the programme of economic development In Ceylon.
Ceylon's population is one of the fastest growing in the world: the annual increase is 24 per cent.
pf
used
In spite of this the mission reports that the resources the country it properly aro adequate not only to frod the new mouth, but also to raise the standard of living.
The report adds that this cari be done without extemal Jonpa.
The mission
recommends
new six-year plan of develop- ment to begin in October, 1057, at the end of Ceylon's present six-year plan.
One part of the effort is 10
be the improvement of the present production of rice; the
other part is to reclaim Jand by Jungle clearance and irriga=
tion.
The mission says that the cultivated area of Ceylon could be nearly doubled, though much
of the reclaimed lonti
would not be as ferillo os land al- ready cultivated.
TOTAL COST
Will
Industrial development follow the improvement in agriculture.
The total cost of the six-year-
be about £ 120 plan would millions,
The mission reports that Ceylon should be able to find this sum itself and the country has also the administrative and technical staf, needed for the
programme.
HONGKONG
SHARE MARKET
(From Our Correspondent)
INVESTING IN SOUTH
AFRICA
Minister's Romarks
Capetown, Sept. 9.
Page
ROYAL INTEROCEAN LINES
*STRAAT
There would be no heat- tancy by overseas investors IWANO!" to invest their money in "THDANTJET" South Africa if they had "STRAAT.
MAKASFAN" not been told by people in
*TEGELDERO" the Union that their money
“ESBARANE" was not safe, South Africa's JĀPAT Minister of Economic AL- fairs, Mr Eric Louw, said "" today,
BAILINGB
Diskurth, Samaisña) Burukula
Manlia, Aingen979 F. * *. ADIA
A.
Djakarta,
Remeras
"TSIBADANE"
#TJDIENTENG"
"YAN HEPTBZTM
Sept. 17
-Bapt. 10 Sept. 21
"äärabkla & Macazear singapore, Pjakarta Palembang •
Belawan Dell
P.F. Porin, Singapore, E. & §. Afțion Amaren.
"THRAMFER"
Bapt, XI
A
Oct,
1.
Bist Dort. Diskarta,
"Eurotala &"Miscabar
Bombrant,
98.
T
Oct. #
Manila, Hingapore,
Aauritius,
Atrics &.B, America
Gel. 11
Janja
Pet. 13
Jabi
Oct. 10
*TLUYA"
Nov. *
"TWANGI"
"TASMAN"
Now, 2
Nov. E Nov. B Nov. #
Nov. 10
Nov. X匠
#pita, Bingapore, 8. Africa, ✯ B.
Ahierica
Jakarta,
Blachasar
Semarang,
Federated Chamber of Indus- TJIPANAS"
kres
Ho told the South African
here: "Any | "THJAPANK" Congreen South African has a perfect fight to diciamo and
to disagree "STRAAT
MALABEA violently
he wishes, with the Government's policy with re-
Bund to any matter, but however "TUWAN“ nation taken by the Government, disagree with the
be
he may
should not ipke the matter beyond the borders of the Union and certainly not to attempt to
country. that
effect
ion against | "TIILUVAŊ“
Macar
Begaraok
Djakarta, Semarang. Burgbats &
Singapore, Djakarta.
surabila Mpeg
Зарад
Bingapore, Kjakarta. Semarang,
Burabila 'Macassar
Singapore, Penang & Belawan Dell
Japan
Bincapere, Baurlilas, B. Africa, a
8. America
Singábora,
Surabala
ABRIVALS
"STRAAT
MAKAṆŞAR”
Sept. 10
Sept. 12
Sept. 19 Sept. 17 Bepl. 17
made here to be "TJIBADANE" Overseas investors "TIMENTINO"
would no longer have confidence "VAN HEUTEZ" Ex-abroad, together with lurid ac-
3usiness on the Stock change this morning nmounted to B134,145. Noon quotations and the morning's transactions.
SU4EN AUYERS SELLERS SALES
BANKS
HK Das... 1423 East Asia....
SING
Ama Ngv, XD 1.4214
DOCKS, ETC.
N. PL. Whart 01% 0.70
Dock
Providens, 12.20 12.40 3700 € 12.20
B'bat Dock.. 1.05
Wheelock ..4315
LAND, ETC.
|
in South Africa have been cabled
counts of conditions which were supposed to exist in the Union".
"As a result, Mr Louw said, a number of British and Ameri CAN journalists had during the this descended like fast six months quitures on the
of local lib no knowle conditions, they sent despatches which could only be described as a issue of misrepresentations and fabrication,
"Judging from
# number of
Press despatches which I have
200 @ 43% in my possession, it would ap
inic Hotel 28 0.03 1500
HKC Land (0) 5011⁄2
HK Land (N) 40},
S'hal Land 1.35 1.30
UTILITIES
with
p.00pear that few of these visiting
Journalists are troubled scruples of any kind. After all, they are gelting free trip and
Tram XD 19 10.20 050 @ 10.10 drawing good pay.
Peak Tram (8) 30
Peak Tram (N) 15
Star Ferry 201
C. Light, (0) 935 930 1000
2:00
9.20
U20
Light (N) 0.18 0% 000 Electric Xb 22002210. Macao Eléctric 10.30 Telephone 27.00 17.00 600 a 17.70 INDUSTRIALS in
1
that The report argues present circumstances the coun- try may gain more from large number of arnall develop- ment projects than from small number of large-scale projects.
PRIVATE INITIATIVE
#
Cement. 17.30 1735 Hope STORES, ETC.
Dairy..... WALIOS
10.30
like it,
ECONOMIC KING-FIN "The stronger the stuff they send
OVET, tho more their readers will
So why Worry if a friendly country. whose hospitality they have enjoyed, in slandered in the process?"
In years past, said Mr Louw, people in Britain and, the United Stafes had taken tile interest Mapeim too p 1740 In South Africa. For example, 1. Crawford 201
legislation on exactly the same COTTONG
Ewo
as that being now so avidly discussed in overseas nows- papers, was passed by the Union 1945. Then
2.10
It found that the ultimate Grain Prices
possibilities of hydro-electric power were smaller than had been supposed.
It stresses the need for prl=i vate initiative · as well 05 Government action.
was
In
Chicago
Chicago, Sept. 9. Chicago grains Joined the The chair an of the mission major commodities in
a mixed Sir Sydney Caine whe performance featured by casiness Was formerly Financial in soybeans under pressure of Secretary, Hongkong, head of The British Treasury delegation quidation..
at Washington and is Vico- Wheat closed today 1% higher Chancellor Designato, of the to 4 lower and soybeans were University of Malaya.
1% to 3% lower, Prices .closed Eight countries were repre- today as follows:— septed among the twelve per-
composing
the mission, which spent ten weeks in Ceylori. FAO, and WHO. nomi- nated the members who specialised in problems of food and health.
Sons
The Rubber
Markets
and,
Singapore, Sept. 9. and other
Prices of rubber futures closed The conference will exchange today as follows Information and views un Number 1 rubber, per ib, muttera of trade, harbours,
Mexico and Washington, Sept. 9. To keep the Russians from cashing in on approximately $476 million worth of looted Kierman bonds, the U.S. Gov- The prediction came in the harbour facilities and other ernment has asited dealers to wake of the disclosure that the technical matters. hold off trading in them for a United States cotton estimates while longer.
had
The Japan Harbour Associa- been
downward, tion will propose at the meeting revised this time o 13,000,000 bales.
Unless bad weather inter-the creation of an international
harbour
organisation.---France- production out-
Money borrowed abroad dur- Ing Germany's. Ilitler and provenes, cotton Hitler regimes is to be repaid side the United States generally Presse. under a recent law passed by will be at a continulag high
the West German Government, level, particularly in
Egypt,
In the debate, it was stated that Pakistan and Turkey. In Turkey, there had been four billion a record crop may be harvest- deutsch marks (about US$950, ed. 000,000) worth of such bonds, payable
the cotton produc-
Howeco will be appre- |
In dollars, Pounds tion In Sterling, Frenchi
trones and clably under the last season duo to drought and insect damage, he report såld.
ather foreign currencies,
Under
Hitler Govern the
Tokyo Stock Exchange
with
Tokyo, Sept. D. national attention con- centrated on the general cles 1lon on October i activities on the Tokyo Stock Market ere Hight.
Qelober
November
December
Number 2 rubber, Octobe Number 3 rubber, October Number 4 rubber, October
spot rubber, unbaled
Blanket crepe No. 1 pale crepe
100-107
United Preza.
NEW YORK MARKET
Governmeri in there had been no combined sitting of both Houses of Parlia ment
70 two-thirds majority, but no one in Britain or the United States showed the least interest, Nor did if cause any comment in South Africp.
Other reasons must be sought
for
the present "campaign of vituperation and slander" in the overseas Press.
Mr Louw could see no reason to expect an economic setback in America. America was the king-pin" in the world's economic pet-up.
depression there would have repercussions in most Wheat-price per bushel
countries, including South Spot
3.3314
Africa, but he could see no September December
2,30-2.301 reason to expect it. Reuter. March
2.44 May
2.4416-2.45
Cor
Spot
1.0314
September December March May
1.78 4.713-4.78 1,70 1.8033-6
Byo
Spot
September
Oats
Spot ..... September
United Press.
LONDON TIN MARKET
Optimism Over Japanese Debt Talks
From
B. America, 8. Africa, MaSTIILIE,
singapore & Mania
Macassar Burabala, Hematang,
Djakarta singapore
Харад
Терап
Belawan Dell, Penang, Ringapore
TEL. 28015/18,
KING'S BUILDING, Ground Floor. CHINESE AGENTS: 82 CONNAUGHT RY, Q. JELS. 31196, 28193
MAERSK
LINE
FAST FORTNIGHTLY SERVICE TO
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA VİL SAN FRANCISCO, LOS ANGELES AND PANAMA
NEXT SAILINGS
* M.S. "PETER MAERSK"
M.S. "NICOLINE MAERSK”
"ANNA MAERSK”
M.S.
*
Sept. 16
Oct. 2
*** Oct 16
Also accepting cargo for Portland, Maine
ARRIVALS FROM U.S.A.
M.S.
OLUF MAERSK"
MS.
"LEXA MAERSK”
M.S. "LAURA MAERSK”
Oct. 2
-Sept. -22
Oct, 18
For Freight and Further Particulars please apply to:
AGENTS
JERSEN & CO.
Pedder Building.
Tel. Nos. 36086,9,
Dates and rotation subject to change without notice.
Economic Expert
Urges Increased U.S.-Japan
Trade
New York, Sept. 9.
Mr Reginald Marlow, former Controller of the Economic Section of Far East Command today urged the United States to develop and maintain increased reciprocal trade with Japan.
It was the beat means of ensuring her continued friendship and forestalling the possibility that Japan will be forced to seek renewed trade with Communist Chins, he said.
London, Sept. 0. Financial circles believe that the conference on Japanese He is credited with miny
Japan -Ho emphastood that "external" debts now being held economic and banking reforms is a logical bastion in the Far
in New York will be success- in Japin during four years' | East against Communiem fully concluded in the near
Ervice as qn, economic ad the United States and Jopen future.
viser,
-have: 4 mutuni need of tach
other.
Since the declaration last week of the Japanese Finance Minis ter, Mr Theds, to the New York Journal of Commerce, the Bri- Aish delegation has submitted new proposals.
He told the United
and
Press that export is the lifeblood of "Japan and Russia do not which like each other and Japan the Japaneso economy
Pent is in a good condi- would be drawn into that pr tion but mainly because of hit only as a last respet
$700,000,000 accruing Mr Ikeda had said that the about
"The best safeguard is re- question of knowing whether or annually from the Korean pro New York, Sept: 9.
not Britain would accept a Forces expenditurca.
curement and the Occupation ciprocy trade because happy people don't embrace Commy- settlement in the devaluated
This figure would Pound Sterling was a major diminish as the United States
probably hism
United Press. obstacle in reaching an agree withdrawal progressed and the
Korean situation become more New The new British proposals stabillecd. deal with a jemporary solution
London, Sept. 9. The tia market was firmer this morning. Turnover was 85 tons Prices of rubber futures closed of which 35 tons were for cash. today 45 points lower to 10 Pricor closed today at the end of the official morning session higher with sales totalling contracts.
September contracts
as follows. showed Independent strength in covering before the position ex- Foot un, buyers
Spot tin, selfers pires on Wednesday. The later pure done at positions eased with lower Lon-Three-monus Un, buyers Prices closed today on follows: Betlement don and Singapore cables. Tren-months in, selfers
Business done 'at. September
20.20 bid 28.00 nominal November
Decemlir "Fluctuations in speculative January (1063)
It added: "Texule demand In ment, it was said, about half the United States has broadened of them had been bought back and they were in Berlin banks recently and prices have ad- when the city fell to the Red sumption rose in July, sales ex- vanced. In Canada, mill con- Army. Soon afterwards, the
panded and inventories drop- Germans say, they disappeared. ped."
issues was the only notable ac- A month
In Europe, there are reports tivity. Fluctuations ranged from ogo, it was an- nounced that
on occasional rise in textile 200 o 300 yon in a single day. agreement had been reached on the settlement demand but the situation is still
Japan Light Metal, which June German
debts. disappointing. foreign
had been Ingering around 130 July Germany and Its private firms
Japan,
---" however
the yen due to the pending problem August are to resume
had decided to of paying interest Government
merger with Canada Solomber eld bonds, and will issue raise the limit on colton yarn Aluminium, for new bonds for the sum of the production.
Induction, went for November
up over Spot capital
of
on
of
In
The SEC bald gain, Europe and Middle Eastern
countries.
of
February Mardi April May
Ectober
28.03
25.00
23.54 nominal
934-049 Dod -United Pres.
ment.
London
Plus in
York Futures
Sugar
Now York, Sept. 0. Prices of rubber futures closed today as follows
Contract No.
pas to the dollar clouse. The now me emphasized that Japan proposals are insed on the re-economic vacuum, nasmuch Agreement reached in as this special income repro- re- cents over half of Japan's total concerning the imbursement of the German exports this year, estimated at. loans, which provide for payapan will solve her future
$1,130,000,000. pient' in spypjusted. Pounds oc-
on her own self-interest and I October think it in short-sighted France-Presse
Exchange Rates Fonding to the dolier clause.
· Ikusiness was dose in the Jacpl
24.00 nominal | unofficial exchanga market
25.IT
29.00 bid
24.15 hominal
21.30 bid
24.50 bid
morbing at the following rates:-)
24.39 nominal
5 Galar (per 33) 247
24.00 idi.
Sterling nate (per £)
15.33
13.40 nombuł
Indonesiays gouders (per 1001"
24,50
Ham Ticals per 100)
34.30
10.10
225.75 -Inited - Prem.
12.079
21.30
intercat that has not been paid. International trude in cotton 140 yon upon tin: approval Since then the US. Securities is still very largely confined to the project by the Foreign
LONDON MARKET and Exchange Commission has old crop barter transactions in Capital Induction Commission. received me
dollar cotton between mony Inquiries about
Sifice the end of the week bo-
London, Sept. B. when trading cen
fore last begip
there has been solid Prices of rybbër kituren closed bond-
demand for textile shares for today as foliowa- holders may
consult want to
A much lower-U.S. crop Investment
- purposes. Tokyo -Humber 1 rubber, in pence their banks or brokers on the estimate will undoubtedly be Spinning was quoted at :: per 25.
Qotobor current market value of Goren-extra Patrong. bullish in yon and Telkkoku Rayon, at 185
November man securities as an indicationfluence on the world cotton yon, on the expectatio of a "December of what their value may be markets and particularly in the capital increase through a free under the forms of settlement. United States itself. --- United grant of new shares, sUnited ---Associated Press,
Freas.
Press
208
October/December.
January march April/June
22 2116
21-22
Bingapore 18ITO!#) FLC plasted (ber '100)
JAPANESE BONDS
Americans not to recognise the Zay Importance of increased -- 20
Pepper Market ciprocal trading with Japha.
Strengthens
187 nomina!
September Oftober January Spot
Context
$30 bid
Blatch
Boihinal
MUST EXPORT : "Since Japan must export to November New York, Bept. 9.
live," "end" should The United MAY The atoper anarkat strengthen- Blaten not maintain such trade, my
tone, although us | Japan will it long-Replember aces was reported on the quieting syce at side. Deniers believed that the
edin
appeared
potter Inquiry
Spot
think most intelligent
to be ins; United States and huch trade
Trom
will assial the Japanese to solvo the problem of surplus popula
London, Sept D Japanére bonds d
Kés, of 1899) 004
Spel material was gisted upon and burntessi, 1331⁄2 40 61.00 a pound, with no offer, I materials from
94 On shipment position, the first States, 1541⁄2 half of September was indicated 00-5/10 at around $1.54, a pound, on an „Uplied Frem ex-dock basis-Uniteji Press.
- *}* (4), of 1910)
"D" (83 07:1934) ****** ((5345: of 1930):
"When people are happy and contented they are not likely to turn to Communismo.
Copra Quotation
New York, Sebt. D. Copra was Augied today at $147.00pm abortion, nominal Cocoanut oll was quoted today at: 10 cents a pound, nominal.
United Press.