MESSAGERIES
M
Arriving
Noy,
"SAINT MARCOUF" ....Oct 20 "FEI NO"
'FALAISE"
THE CHINA
THE GENERAL
MARITIMES ELECTRIC CO. LTD.
Leaving
M
Outward For
Bet.
22
Гаряв
Nov. 19
Japan
.. Nov, 2
Nov.
1
***FELIX HOUSSEL”
> -- Not. * Nov. A "SAINT MARCOUF” ....May, 18' Nov. 30
For passenger and freight.
Homeward For
N. Africa de Europa Marecilies Via Saigon
N. Atria & Europe
For freight to Salgon, Algiere, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Accopling cargo:
--vin Marseilles to all Mediterranean & West Africa Ports. -via Djibouti to Madagascar.
Hubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong
Queen's Bullding (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, Slam, Malaya, Burma and East Coast Indian Poris.
"LENEVERETT"
Arrives Salls
Oct. 22 from Manita.. Oct. 23 for - Singapore,
Rangoon *
"REBEVERETT"
Arrives Sally
Penang, Calcutta.
Nov. 7 from Singapore.
Yokohama.
& Nov. 8 for Kobe
(Accepting carro 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 Perslun Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION M.S. "NORDSTJERNAN”
Arrives Salls
Oct. 24 from Singapore. Oct, 25 for Kobe & Yokohama.
M. S. "STAR AlcyonE"
Loading Sails
Oct, 24
Oct. 25 fr Bangitok, Singapore,
Colombo, Basrah
Khorramshahr,
Bahrein,
(Accepting carro for transhipment Kobe/Pusan sod Kobe/Okinawa).
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophone 31206. Chinese Department: Telephone 28293.
OF ENGLAND
Chairman's Speech
ANNUAL GENERAL
MEETING
At the panel Anual General Maet- ing of The General Electric Co., Ltd.. of Faid on September 2513, the Chairman, Ale Hatry Hmiling, esporte. ed that a further moderate increa had been made in the Company' avtt proft.
'Sur Harry then staind that con- siderable study had born gives to future capital requiretsovila, Un- fortunately, the recession in the de- mand for constimer goods had con- tinued into the current year, it offer enhanced by Purchase Tax and fire Purchase restrictions in the home market, and by Import tavizici tions imposed by overadas countries. This had naturally led to note accumulation of stock in the depart- ment concerned. which, with increasing output in the aphere of heavy engineering and capital goode, had mado considemble demanda upons esph resources. To put the capital structure in order the Com- pany therefore proposed to capitaliseer rome £5,077,000 out of the £7,000,000 now standing in the credit at Share Premium Account and apply it as a bones laue, are for share, to th Ordinary Stockholders. To put this proposal into effect, corresponding Increase in authorised capital had to take place, and it was prpposed to Increas the authorised capital by The creation of 12,000,000 Ordinary Shares of Ei each.
ccomo
The Chairman then gave a brief survey of the year's activities at home and abroad. and regretted Bint in China it was necessary for the OEC as it was for other Erfah Companies practically to operation after 40 years of success- ful work. The continued world-wide demand for capitet equipment, had amply justified the erection of the new Heavy Engineering Worka st Witton and the decision to expand the capacity of the Fraser & Chal- mere Engineering Worka at Erith. A noteworthy order had been received for a 2.500 KVA horizontal water wheel plternator for Norway, whic will be one of the largest installed in Europe, Car Switchgoor Works had developed new 112 kv outdoor circult breakers ot 3,600 MVA breaking capacity for use in connec 1k with B.E.A. and Overseas con- tracts. The aircraft lifia, telephone exclunge, fuorescent lighting and other equipment supplied for the aircraft carrier H.M.S. "Eagle" were alt now in servlet. Comprehensive cual treatment planta suppised by Mesar. Fraad & Chalmers had gone into service in India and South Africa; an order for iron ore crunt- Ing. Boreening, conveying and storage plant to the value of over £1,000,000 had
осл received from tho Yugoslav Government. A typlent example of the contribution of out Telephone Works to the country's export driva la the autonsile ex- change at present being installed d Cali, Colinbla. position of the GEC as fluminating engineers back been maintained. Installations completed during the year included the lighting scheme the works of C.A. Parsons & Co., Ltd. the most extensive cold cathode Buorescent Hghting - project in the world. Contracts fad been secured for the lighting and other electrical equipment of many over. seas airfields in South Africa, West Africa, Iraq, Burma, Norway and elsewhere.
MAIL THURSDAY, OCTOBER 16, 1952.
Stringent Economies
In Rubber Production Absolutely Essential'
Proposal For
Jap Trade With Peking
Tokyo, Oct. 15,
The Japan-Chipa Trade Promotion Association has made to Communist China a third proposal for more trade to the extent of about $2,000,000, the magazine "Commerce" re- ported today.
was made
The proposal In response to requestsa from manufacturers in the areas Nagoya and Kobe who would like to Import graphite, resin oil, woollen yarn, raw cotton, fluorspar, peanuts and Boya beaus from China,
In return, they hope to sell to China bicycles, weaving machinery, knitted goods, rubber and leather shoes.
The Peking Government has made two proposals to Japan for trade totalling 20,000,000 or about $14.- 100,000. Negotiations are still going on,'the magazine safd.---United Press,
JAP BANK
TO
IN
OPEN
INDIA
Establishment of offices
C
London, Oct. 15. 'Stringent economies in production costs are absolutely essential if natural rubber is to compete on equal terins with synthetic rubber, say Messrs Lewis and Peat Ltd. in their rubber market report. The high prices reached for natural rubber during the last two years were the industry's "worst friend", the report says.
ROYAL INTEROCEAN LINES
To
Bingapore, Djakarta, Remarans
Nurabria atacantat
Djakarta, Semarang, z Nutabata
Japan
B'AILING'S
“TJILUWAR*
Ock, 16
Oct, 18
"TJJBODAS"
"TJISADANE"
"WA "TEGELBERG
*VAN HEUTEZ”
»
Djakaria, Semarang. „Kutabain
Statist Singapore &
Surabala & Macassar
singapore, 'Mauritius, 5. Afiles,
B. America Djakarta, Bemarang
MACAKLA
Surabats
Manila, Belawan Dell, Hingapor
6. Atrica
Singapore. jakarta, Bemarang,
"Burabala & Marmar
Japan
"STRAAT
MALAKKA
"VAN BRUTAL”
Oct.
Oct. 21
22
Japan
Japan
"TASMAN"
Del
"MARTBŰVEKERS. ' 27
Jake.
"RUTA"
"TJIWANG?"
STUPANAB" “ŢJIBADANI"
**TIPONDGR“
"STRAAT
MALAKKA
Nov. Nov, E
Nor. D NOT-,
Japan
Singapore. Djakarta,
Japan
Nov.
A
Nov. 10
Nov. 16
Nov. 20 Nov, zł
Doc. Dec.
"TIRAMPE:K»
Ocl.
"TEGELBÉRG"
Vec.
1
"STRAAT SORNDA”
"NILUWAI{"
Doc. Dec. 10
Dec.
Dec.
30
Ja
2
Singapore,
JATE 7
Japan
Jan. D
Jan. 14
During this period production costs soared, ind estate workers' wages rose by over 250 per cent.
The report deals fully with the "synthetic question", and
calls for a more réalistic attitude, on the part of natural rubber pro- ducers towards the problems presented by the rise of the American synthetic rubber in- dustry.
"To
producer average synthetic rubber still Bures as something in nature of an in- terloper and an enemy of natural," it says,
the
"This thought must be des- troyed. Without synthetic the supply of natural would be in- sufficient to meet world demands of rubber and prices would roar to fantastic levels.
Pakistan Irrigation Project
London, Oct. 15,
"TITJALENGKA" "TJIWANGI"
*JINODAS"
"B019SEVAIN" *TJRWWANGI“
"TJIDANTJET"> "RUYS"
"TJILUWAH"
"STRAAT
→
MAKASSAR" Feb. 1
An area of 100,000 acres of land, once barren and de- solate, is now bearing crops Jonas" as a result of a barrage built the Colombo Pinn across Pakistan's great River Indus.
"This consideration can be dis-under missed because synthetic is here to stay and will bet as a brake un the price of natural, the pro- duction of which is loaded with very
great overhead charges. The price of 23 United States centa ex plant, at which synthetic
The barrage forms part of a Eve-year zeing carried out in the Thal colonisation project Plain, between the Indus and This schema
is being sold to United States Jhelum rivers. consumers, must be accepted as envisages the irrigation of one -callatic, showing neither profit
nor loss to the producers..
A FAIR PRICE "The Amerleau.
|
and a half million acres.
Water will be drawn from the Indus into a canal system all the year round,
Principal crops are 10 ht wheat,
for food).
gram" (a_chick-pea used
cane.
· sugar
cotton and
Settlement follows irrigation. It is hoped to place 250,000 people on farms, each of about 15 aeres, and to construct about 000 villages.
Schools and hospitals will be built in each villago, which will be linked by roadways. And cudy 240 villages have sprung and 2-4,000 familjes have
public owns the synthelic Industry and would not be prepared to see It muke a profit at the expense of their tyres, neither Tokyo, Oct. 15.
would they be The Bank of Tokyo, one of prepared to subsidise it were it of to be sold at a loss. In other Japan's largest undlers
excliange business words, it is a fair price showing foreign
loss to the during The pre-eminent
is to either profil nor pre-war days, open branch offices in Karachi taxpayer.
is a well-known fact that *or in and Calcutta'' thigi
the United States Government carly
at intends to dispose of its synthetic these points was tentatively plants to private enterprise but approved
the Finance Minis- there are grave difficulties to be started new lives there. by try recently.
surmounted before such disposal
A Ilvestock research farm is place. But Kyodo News Agency said can take tonight that similar applications under private exterprise de-mised to help by providing an also planned. Australia, Canada "It must be remembered that
and New Zpuland have pro- from the
Full and Teikoku unde
administra- Banks have been shelved by preciation of plant,
tion the Finance Ministry.
experises and taxailon on, profits would have to be taken The two banks were formerly
by The Yasuda and into account before the synthetic Authority has been set up by owned Mitsui
product could be sold at a price the Pakistan familles, respectively,
Government "Zai- remunerative to
private were powerful
carry out the project.-London Japan's big business producer,
Express Service. "It is thus fair to assume that ac-private enterprise would be faced cording to Kyodo, has not yet with great difficulties in holding decided on whether to permit the production costs down to the more than one bank to establish present level. overas offlees In 21 single location
Bir Harry then dwelt on the need for Commonwealth plan.for_co- ordination and stressed the overall Importance of the electrical industry to all human activities.
The General Electric Co., Ltd., of England, known
throughout the world as the GEC., la represented in China by The Brish General Electric Co. Ltd. of Hongkong. Shangha and Tientsin. The con- solidated accounts of The General Electric Co. Ltd. show that the capital employed at 31st March. 1032 amounted to approximately £45,150,000 and that the profit for the year to that date after taxation amounted to approximately £2,091,^- 000. The dividend on the Ordinary capital is 211⁄2 per cent for the year less income tax.
The Company has over £4,000 employeed.
Optimism Spreading Among
U.S. Business
Leaders
New York, Oct. 15.
A fresh batch of industrial and financial executives are taking a cheerful view of the future.
Financial
Joining the long list ofcording to Colonel William M. Chairman of North businessmen who are on Spencer, record as optimistic about American Car Corporation. His prospects are spokesmen in hon a fleet of 10,000 refrigerator
company makes freight cars, and
Talks End these fields: hardware, home cars it lenses.
London, Oct. 15. British Commonwealth officials who have been examining the Sterling Area's problems here, concluded their private talks today.
appliances, electrical equip- For the economy in general, ment, television, freight car Alan H. Temple, Vice-President makers, bankers and finance and economist of the National City Bank of New York, sees company officials.
good times for several months The growing trend of hause-ahead. He tells the Controllers holders to "do-it-yourself is Institute of America that for The officials, in session since the bright spot in hardware several months to come business September, 22. have been pre- men's lives.
will stay at present high levels paring for the Commonwealth The home appliance industry and perhaps will go slightly
is looking up, says John W. Craig, higher. ference in London in November Vice-President of Ayco Manufac Bank eamings reports now and December.
It is believed that the officlate furing and General Manager of being published make that busi-
Prime Ministers' economic con-
discussed matters Preferences" and
its Creste Division.
ness look good., New York bank of Imperial
"As far as we
can see cer statements, show that in July, relationships
tainly through the first half of August end September their with the General Agreement on 1953 production and Trade and Tariffs; the European should maintain high levels," he est for any three-month period salça carnings after taxes were high- Fayments
Union and other
in recent years. world finance agencies.
Sterling convertibility wad
The consumer finance business M. L. prosperous, toq,
the of
also analysed.
asserts.
ΟΙ
Ralph J. Cordiner, President General Electric, predicts that
in the next 10 years the electricis
The officials took no decisions As these will be left for the industry in the United States Googlein, President
ment
Rubber Futures twice as
In S'pore
I
Commonwealth Prime Ministers, men as it did in the last 74 Association, mays that this is the will turn out much equip National Consumer, Finance --Reuter.
years. And he thinks the olce-best year in the coneumer manufacturing industry's finance industry's 40-year his- irical growth in
In the next 10 years will tory. He says the future looks
as rapid D.S the rest of still brighter. the economy.
But there la. one set of Utilities will profit from the doubters who seem unconvinced spurt in television which Dr by all this. Down In Wall Street Charles B. Jolliffe, Vice-Proddent bearish sentiment has been on
Radio Corporation of the increage of late. America, foresees. He thinks The bears have their eyes on, Number rubber. per: 1. 7996-12 [60,000,000 sols will be in that nt spending In mid-1933 1994- use in this country within a fow-wiren Number rubber, November 6-Year Already, he adds, TV set for defence stops ita climb. "The is too good to owners power consumption is present boom is 01-02 adding $200,000,000
to last," in their motto: IN utility reverCH.' A
And they have Been: discount- Prospects are good in the ring the slump they think. in.. frigerator car leasing deld, ac- evitable Associated Fress, Para
Singapore, Oct. 15. Prices of rubber futures closed today as follows:
November December January
Number rubber, November si-cul Number, ♣ rubber, November Epot: rubber, unbaled
Blanket crepe
Bo. 1 pale ETEDS":
Press
cartels
The
Finance Ministry,
the
the
CONSIDERABLE SCOPE
of
to
"TJISADANE"
Djakarta. Semarang. Surabala
Jason
cascat
Bingapoer.
Djakarta. Semaran Murabola flaensur
- Djakaria Hearing, Surahala
Macassar
Manka
*
Singapore, Mauritius 4. Africs &. America Manila, Singapore & 8. Africa Singapore, Djakarta,
Bemarang, Nurabala & Macair Djakarta, Senatang, Surabata
MACMSar Гарал
+
DJakarta, Surabala & casar
*
Semarang
Manlin Singapore. Mauritius,
8. Africa & S. America Aingapore, Djakarta, Semarang,
Bursbala & Macassar
Japan
ARRIVALS
Japan
From
Djakarta, Palembang, Belawan Dolla
Singapore
Bemarang,**** Sucabala,
In Port
In Port
"VAN HEUT8Z”
"TASMAN"
Oct.
21
Djakarta,
ALLCASSAT Singapore
Drt.
Тарар
TEL. 28015/18.
KING'S BUILDING, Ground Floor.
CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS. 31196, 28183
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PIULADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
*. M.S. "ANNA MAERSK”
M.S. "LEXA MAERSK”
M.S.
"LAURA MAERSK"
equipment and the services of experts, The
Thinl Development
HONGKONG SHARE MARKET
In Port Buoy A2
Nov. 2 Nov. 15
Also accepting cargo for Portland/Maine.
ARRIVALS FROM US.A,
tp
M.S.
"LAURA MAERSK” M.S. "LEISE MAERSK”
"On the other hand there are Plans for setting up of oflees
over 60 different types Singapore and Dinlene,
are also being made synthetic and this affords con. by other foreign exchange siderable scope for the produc- banks here, but this may prove tion of different qualities design- difficult since all governments, td for the specifle use to which
wishes manufacturer except Taipei, must grant ap- proval tirat, Kyodo caid, apply them.
*It seems Associated Press.
that producers of From Our Correspondent)' natural have to take a realistic
Business, done on the Stock view of the whole Exchange this morning amount- problem and recognise that costa ed to $405,504.90. Noon quota have to be reduced to a @gure tions and the morning's trans- where they show an attractive actions:
Titanium Deposits In
S. Africa
very
SHARES BUYERS SELLERS SALES
HK Bank
... 1405 141 East Asia. 148. INSURANCES
Union 76
7 41413
0 6 14:0
comparison with the price of cynthetic.
"Moreover, it appears that any BANKS such lowering of production costs must be of a permanent nature because unless consumers can be assured that the.
price of
of natural tuber will remain competitive with that of synthetic, they not consider It worth while lo modify their formulae to use the balance,
250,000 some
tens annually, which is the difference between their present mandatory use of synthetic and the aetun amount they are already using,
WORST FRIEND
"The high prices reached for natural during the last two years were, as pointed out recently in the Press, the natural rubber in- dustry's worst frland,
costs soared and estate opera- "During this period production tives' wages rose by over 250 the per cent.
"It is realised only too well
Nav
Asia Nav.... 1.0 DOCKS, ETC.
X. Whart
N. 1. Whart Dock
02
6.00
*****... 21.40 Provident. 12.70 S'hat Dock 1.03 Wheelock...
13 1000 @ 12.70.
100 g 1.DU 4435 1200 M
500 or $415
0.40
0.40 0.0000
LAND, ETC.
UK Hotel
Land (0) DO HKC Land (N) 40% S'hel Land Hunph:cys UTILITIES
Tram
·.1.20 +
300
12.60
10300
20.30
P. Tram. (0) 91% P. Tram (N Star Ferry
6000 20.40
1100 2015
1000 6.40
M.S, "GRETE MAERSK”
Oct. 20
Nov.
2 Nov. 19
For Freight and Further Particulars please apply to:-
AGENTS
JEBSEN & CO..
Pedder Building.
Tel, Nos. 36066-9.
Dates and rotation subject to change without notice.
At liberty to proceed via other ports to load/discharge 'carko.
U.S. Auto Industry
Plans Production Increase For 1953
Detroit, Oct. 14,
The nation's car makers will bulld· 5,000,000, passenger cats next year if there is demand for that many vehicles.
That is the view of the industry's expert analysts in appraising prospects for 1953. These experts, along with the senior executives of the industry, are convinced there will be plenty of steel for all the cars the market. can'
absorb.
Some of the car makers still that comes with the advent of insist there will be more steel Spring and runs through the than civilian industry needs by Summer months. next Spring. On this basis they While production is expected aro reiterating earlier assertions to continue at high that all controls ca the use of through to the end of the materials will be dropped early sent year, there probably will
be some material carryover in-
levels
Johannesburg, Oct. 15. South Africa may have some of the largest deposits in the world of titanium, regarded as the metal of the supersonic age. A company has been formed to recover it from sand dunes 50 miles from Dughan. Large deposits are
also understood to have been discovered in iron extracted at Airlie ore being in the Eastern Transvaal.
An Americen geologist in Johannesburg
says that South Africa's deposits of titanium would become vitally important in another world war and that titanium might become world's major structural material in 10 years' time.
Titanium, which is 40 per the difficulty of adjustment to cent lighter. than steel and lower production costs, especially stronger than aluminium, has in the face of the present situa
tion in Malaya, but in view of the great virtue of high resis tarice to heat. This makes it a the ever improving quality of
· Cement *.......... 17.00 valuable substitute for steel in synthetic we believe that really
Ropa ab-iSTORES, ETC.
******* 19.30 engines designed for supersonic stringent economies
where, heat resistance is
is solutely essential.
Dairy
strike, they say 1914 of cardinal importance. Another speeds
300 19.50 further need for materials con- Watson 26.00 27.30 of its. virtues is that does not and gold at a price, level
that COTTONS Its maximum
Ewo rust and this enhances its value would encourage as a me
metal for domestic usage. use for the additional demand Research is being carried out which exists over and above the of 460,000 tons per America and Britain to re minimum
the cast of producing annum at present laid down by titanium. It is very, expensive the United States Government as at present: world output is only being the minimum quantity of
synthetic that must be used. about 5,000 tons a year—AKSO-
London Express Service," clated ProsE.;
C. Light (0) Dás 945 3000 @ 9.45,
02 0.40 C.-Light (N) 0.40 0.45
in the second quarter of 1953. 250 ( 6.35
The car makers are not unto the new year. That can be. Eledalo £2.80
blased in their viewpoint, but used also, if precedent is fol most of them say the industry's lowed, to permit an even higher 500 # 3716 ability to try production output of 1053 curs.Associated
Press..
In
duce
JAPANESE BONDS
London, det. 15. Japanese bonds.
A. (4 of 1800) .......... 80 "B(4s. of 1010). 12.14 "C" (5a. of 1007). "D" (5s of 1934) “E' (5% of 1930) Consoir
arc
"Natural must
must be pro
produced
Macao
Eire. 10.70 Telephong 2. $7.250 Telephons *(RU) INDUSTRIALS
1000 400
27.60 22.09.
1000 .17.70
500 or 17.80
200 19.40
2.40 215163 @ 2.40
LONDON TIN
MARKET
London, Oct. 15. The tin market was quiet this
rane for cash. Prices closed at the end of the omeial morning Business was done in the local session as follows tmomcial. :exchange market thin Spot in. buyers. mominar at the following rates:on: Bpot tin, gefiers
Exchange Rates morning. Tinover was 25 tons,
0.305 Busheks done at
10.78 Thron months tia/i BUYME
Indonesian Falldorn" (poś· 100) 26.50 Three-months in emileli
138
US dollar (per #1)
1014.
Steding note (per &1)
103
08-7/10
am Ucals (per 100),
Slogadoro. (Straka)
34.30 110edes done al 10.168211lement
Unifed Press,
FAC plastres (pta, 100)
Pressi
civilian-military
clearly
programme has been demonstrated since the Korean outbreak. Even with the set-
,back: caused by the recent steel there is no
Irois,
Japan - Formosa Trade Ties
Taipei, Oct. 15.
So far this year, despite the steel
airike, materials difficul- Mr Kenkichi Yoshizawa. ties and labour troubles in Japanese Ambassador to the cuppilos plants, the car Indus Nationalist
on
Coverurient try has built 2,000,000 passen-Formosa,; sold here · today, that Her ears. Its assembly lines are economie co-operation between. currently rolling at a rate that Japan and Formosa should be
output to the first step taken. in re would bring 1962 about 4,350,000 cars and more establiming
the frierully rela than 1,200,000 trucks. Home Hons between the two com
wo coun assembly line momentum may triest south b bo lost in the change-over, to Ilo spoko for the fist time now model output, but it will publicly In Formou at the not amount to much,
opening of the Sino-Japanode?** Barring another chango In ] Trade Fair Preliminary E materials allocation offers the hibition, at ang Industry will get enough Elect Closer erotiomie lee would
in the January-March quarter help bring prosperity to both," next year, to build at least countrios, Me Youhiawn saldas 1,280,000 cars. This volume will The Fair, lanting a waric, wa be needed, to stock dealers for opened by Governor K., C. Wu the sonsonal buying upturn -Itouter