MESSAGERIES M
THE CHINA MAIL, MONDAY, OCTOBER 20, 1952.
MARITIMES U.K.'S TRADING FIGURES M Striking Features In September Returns
Arriving
Leaving
Nov, sie
22 Orl. z Now: 19.
"SAINT MARCOUF"...Oct.
*"PEI 10"
PALAIBE"
Nov.
FELIX ROUSSEL” .......... Nov.. 4 "BAINT MARCOUP" Nov. 18
• For passerer and freight.
Nov. Nor Nov. 18
3
Outward For
Japan
Homeward For
N. Africa & Europe Mářečištěk vía Balghi
N. Attila & Eurobe
For freight to Balgon, Algiers, Oran, Tangier, Casablanca, Hayre, Dunkirk, Antwerp & Rotterdam.
• Accepting cargo:
-via Marseilles to all Mediterranean & West Africa Ports.
-via Djibouti to Madagascar.
Bubject To Change Without Nottes,
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong
Queen's Building (gr. floor)
EVERETT
Tel, 26651 (3 linė).
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 Ports.
"LENEVERETT"
Arrives Salls
Oct. 22 from Manila, Oct. 23 for
"REBEVERETT”
Arrives Salts
Singapore, Rangoon *
Nov. 7 from Singapore. Nov. U for Kobe
Pinang, Calcutta.
& Yokohama.
(Accepting cargo for transhipment Kobe/Pusan and Hobe/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. "NORDSTJERNÄN”
Arrives Balls
Oct, 24 from Singapore. Oct. 25 for Kobe, Nagoya, Yokohama
& Osak;
M. S. "STAR ALCYONE”
Loading Salls
Oct, 24
Oct. 25
for Singapore,
Bangkok, Colombo, Cochin, Bombay, Karachi, Kharramshahr, Basrah & Bahrein,
(Accepting cargo for transhipment Kabe/Pasan and Kobe/Okinawa)
EVERETT STEAMship corpoRATION S/A
Queen's Building, Telephone 31206. _Chinese_Department: Telophonc.28293..
Lumber.
Industry
In Trouble
Santiago, Ost, 19.
industry 15 both: in the
Chile's lumber
having trouble
HONGKONG
SHARE MARKET
(From Our Cortespandent)
country and out of it, and the Business done on the
temporary
loss of onc major customers looms
the debit sheet.
After a bogin
Still In Front
Technically
Mirmingham, Obt. 19. Britain has nothing to
, fear-tochtaleally-from the
COD
or
Increasingly severg petillon of West Germany Harold Japán, r Walkinson, Parliamentary Secretary to the Labour Mistry, salg here, yeïder=' day.
тех
- dive are some distancë tá
frent of both,” he added.
· Mr Watkinson, who addressing the annual cot- ference of the BHI In- siltute of Works Managers, said that in Japan at
the end of last year the average hourly earnings of a maid wdrs: worker equivalent to 1/54d, of a Woman SL. and of workers generally · 11d- Reuter.
Japan & SE Asia Trade
Tokyo, Oct. 19. The Japanese Foreign Office is drafting its own version of a
trade polley towards South-East Asia, according to Foreign Office officials.
new
Trade Gap Shown To Be Lowest In Two Years
(FROM OUR OWN CORRESPONDENT).
-
London, Oct. 19.
There are several striking features in the United Kingdom's trade figures for September.
The first, of course, is the fact that the "trade gap"--the excess of imports over exports was, at £44 million, the lowest since November, 1950. This was an Improvement of no less than £30 million compared with the previous month.
The narrowing of the trade gap was due in large measure to d reduction of £25 million in our Import bill-evidence that the import cuts announced earlier in the year are now having a substantial effect on our external trading position.
It has never been suggested, There'uté certainly signs that however, that a lasting mit is. But, if that is the case, provement in our balance of how are British Industries to payments could bo effected be reloved of some of the bur aimply by the exportient of den impressed upon them by one cutting imports.
aspect of Government economie policy to enable them to piny their part in carrying out an- other and perhaps more im partant aspect of that polley?.
It is far more desirable that the Improvement should be brought about by an increase in exports.
Mr Butler, Chancellor of the Exchequer, drew attention to this aspect of the problem when he was questioned in the House of. Comthons last week on the the recent White Paper on balance of payments.
The improvement in our ex-
position ternal payincrits
ion is nol ment in
vented in that publication; ue Chancellor said, was partly due to a movement in the terms of trade in our favour.
He continued: "I regret that the balance of payments sllun-
better by an improve the export position, towards which the country They said that the Foreign should certainly devote its atten- Ministry would seek to layton in future it we are not only major stress on imports from to maintain our position but South-East Asia rather than effect a lasting improvement." definite trade relations, which were admitted to be impossible due to reparations,
the complex Issue of
NO EVIDENCE Unfortunately, the September The draft plan will be incor-figures show no evidence of any porated into the overall Govern improvdinent in this direction. It ment post-election trade polley is true that exports last month
towards South-East Asla along with those plans blueprinted by te Finance Ministry and the Ministry of International Trade and Industry.
10
The Foreign Office plan is said to envisage the following:
(1) Purchasing missions be sent to South-East Asia to buy as much rubber and iron ore as possible, wid
were £6 million better than m August but the daily rate of ex- idatured by this stcddard ports continued to decline. they were down by one per cent the rgonth compared with six
between July
per cent August.
There can be little doubt that this trend is causing grave "con- cern in official quarters.
THE ANSWER?
There is a growing-school of thought which believes that the answer lies in a reduction of Government expenditure. This would inevitably entail minor hardships for certain sections of the populullon but the need
for it is becoming increasingly apparent.
The monetary action taken by the Government in the last only, partly successful. Budget to combat ination last been But that is not the fault of the public-or the policy.
REVISION OF TARIFF
AGREEMENT
ROYAL INTEROCEAN LINES
DÁRSTÍA......... BERFUNƒ. . #diABRIS
Ringapore Djakarta
}
"VAN HALWER
TASMAN
*MARTBUYCKER" det.
"RUYS"
Nov.
Japa
"TJIWANOI"
Nov.
Hingapore.
"TJIPONDOK
"TJIBADANE" “ERPANAG” **SILUWAL"
*BTRAAT
Nov.
Nov. JD.
MALAKKN
“TEGELBERÖ***
VAN HEUTSZ“ -"TJIWANUI".
“ILÕELDERO“
Nov. 11
Nov. 10
Nov. 22
fie.
Dec.
bac.
THAAT ROKNDA- Dec. 10 "FIIFJALENGKA”
*TIILUWANT"
"TJIKANPËR”
"BOISSEVAIN”. "TJIWANGI”.
"KUYA"
Djakaria,
Buranala MECHELET ›
Semarang,
bjakarta, Belidrang BAMÀ
MACASAAN
Minxspore.
Djakarta, ・・ Mauriline,
5. Aliita & B., América
Singapore, Djakarta.
"Burabola a kimenetar
Asanile, Belawan
Stmárdiga
Dall. Aingepor
FAB. Africa 8. Amèrica
Jasna
Djakarta. Semarang, Burabaja
Macassar
**Aläggöra.
Jakarta,
Burabila Ntacassar
Semarang,
~Djakiris Bemarang. Burabala &
Macar
Kinila Hingapore. Wirkkuta,
Mauritius, 8. Afetes à ́8. America Mantis, Blogspore & 8. Airlea . Japan
Singapore, Djakarta,
Surabala & Macassar Djakarta, Semarang,
Machmar
Bumerang,
Sutabata A
Singapore,...... Djakarta, Bemarang,
Burabala & Macariat
Manila, Singapore:
-Djakarta,
Mauritius, B. Africa à 8. America
dae.
Dec.
Deci
vit. 31
Japan
Jan, 2
Jan. •
"FAN SISUTSZÉS “TJILUWAR*
Jan. 19
"TSUBANTJET
10
Japan
"BTRAAT
"TJIWANGI" "ZÍTĪJALENOKA"
MAKASSAR", Feb. 1 VID. Z
Feb D
Заран
Manis,, Singapóte ́4. 8. Attica Blogapore, Djakarta, Bemarang,
·Buraknin & Macassar
Singapore. Dr. Bemering
Sutabria & NAGRESAT
amanpate, Djakarta,
8. Afṛten & 8. America,
ARRIVALS From
"VAN HEUTEZA
el 20
02. 4
Oct.
Britain And Canada TASMAN”
In Favour
Geneva, Oct. 19. Britain and Canada have given the first clear-cut in-
dications that several coun- fries would favour
a re- vision of certain clauses of the General Agréement of Tariffs and Trade (GATT).
Increasing concert has been It is the fault of the Govern-expressed at the weakness of Article 10 of GATT, condemning ment for having offset the con- traction of credit in the private export subsidies, which permits sector of the otonomy by an the United States to subsidise almost equal expansión bf a surplus ́crops, àở, they can be borrowing from the banks to exported at less than world mar-
ket prices. finance its own spending.
Addressing the seventh session of GATT, In sesalon here, Mr
John Locke, leader of the Beluar delegation, recalled that whent the flavana Charter was being drafted, the United Kingdom had pressed for stricter control over the use of export subsidles.
The relevant provision in the charter was considerably stronger than that in the General Agred
NEXT YEARY
"TJIWANOV
"RUYB"
Djakarta,
Bemarang, • Вставнія,
Bincassar & Hingadore
Nacusezt, Burábala, Bantarang,
Djakarta & Singapore
B. America, 8. Atrica.
Bingapore & Manlia
Mauritius,
KING'S BUILDING, Ground Floor. CHINESE AGENTS: 82 CONNAUGHT RD. O. TELS. 31196, 25183
TEL. 28015/18.
MAERSK LINE
FAST FOETNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis BAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
ARRIVALS FRÖM U.S.A.
MS.
LEXA MAERSK”
M.S. "LAURA MAERSK"
M.S.
"LEISE MAERSK”
M.S.
"LAURA MAERSK”›
M.S.
LEISE MAERSK
M.S. "GRETE MAERSK"
AGENTS:
However, there arc nov
the Government will keep a curb genuine grounds for hoping that on its expenditure in the future. Mr Butler last week-end gave the nation a promise. "I tinder- take," Ho said, when the National Exchequer looks in November at the Estimates including the Defence Estland tes antito try to make a fair deal, but definitely to reduce expenditure in such a way that we may have some hope in the next Bulget, ment. at any rate; of not increasing succeed Two days after Mr Butler's taxes and, if we can
It the contracting
parties (2) Invitations to De CX-
sufficiently, of trying to make statement in the. House of
should decidé át imme futuro tax burden less." the tended to economic missions from
Commons, Mr Peter Thomey-
time to If the Chancellor does, "Er
review the balance ht South-East Asia to Japan for excroft, President of the Board of fact, succcod in reducing laxa-GAT 18 a whole, Britai Lonsive inspection of Japanese Trade, warned British manufaction, he will have gone a long would undoubtedly press for industrial developments.
furers that the decline of ex- way towards solving the prob-stronger and more
specifie France-Presse.
ports could only be arrested by lems of British export, in-visiond guterning Export sub-
reduction of prices. ›
dustries.
Bidles, Mt Leckie said, "Otherwise," be said,
· "we
by C. M. Isbister, Canada, shall find ourselves out of the
said that, export subalities had markets upon which we depend
bten increasingly used in re- for food and raw materials"
cent-years. They could be dé- trimental to the trade of other
ánd distort countries.
tho paltem of trade, established Success of the Government's The relative article in GATT funding operation was welcomed
was not strong. In fact GATT the gilt-edged market but had comparatively little to say in turnover was small and prices abnut
exports, being almost generally showed only minor wholly concerned with import PENINSULAR
onem
BANK' MISSION ·
Washington, Oct, 19.
Bank for The International Reconstruction and Develop ment announced Here today that it would send an economic mis- sion to Japan, as requested by the Japanese Government.
Tho
Survey mission will Japan's comomy and collect information about her capacity Lo carry present and future debts,
cut specific projects be examined, the would not bank said,
The mission, consisting of Mr B. C. De Wilde, economic ad- viser to the bank's department of operations for Asim and the Middle East, and Mr William M. Gilmail of the same depart ment, is expected in Tokyo next Tuesday-Router.
BURMESE MISSION
Tokyo, Oct. 19.
61 First representatives Burmese trade mission secting
Slock of 15 Exchange this morning amount- big oned to $420,932.50. Noon quota- tions and the morning's trans- period from actions:- 1915-1950, when the British- owred Pacifle Stean Navigation BARES BUYERS SELLERS SALES to buy Japanese rolling stock Company's boats loaded millions of inches of wood for shipment to Britain from Chilean ports;
Calle is losing for a time third-1
customer -best lumber market.
its
in
the
that
This is due to the fact
Arms have suspended licences for Chilean products for the rest of the current year.
After the United States Argentina, Britain is the best customer for Chilean lumber. The Argentine Government has also ordered credit restrictions which affect this market.
Doustically, the lack of ade- and rond transpor! quate
of the biggest fucilities in one headaches faced by the lumber industry
Observers say the Govern- ment should seek new marketa for lumber or channel à larger quota into domestle Industries.
-Associated Press,
Building Awards.
4
New York, Oct. 19.
U s. heavy construction Con- tract awards reported in the week ended Monday totalled $333,337,000.
BANKS
East Asia INSURANCES
Centon Union
DOCKS, ETC.
140
200-
Waterbud Asia. Nav.
K. White N. Pt. Whort 6.0 6.00 17ock Provident
Provident (Now) Wheelock
LAND, ETC.
k Hotel in Lond
S'hai, Land
ant small boats arrived at Tokyo International airport this afternoon.
a
of
FAMILIAR ARGUMENTS British export prices, he pointed out, have risen in the past year by only one per cent, compared with an increase over 20 per cent in the year before.
"If we can keep our export reasonably stable over prices the next year," he added, "we shall have made
im- a very portant contribution to winning the export battle of which our livelihood depends."
THE STOCK EXCHANGE
It has been a dull week in the stock marketa but most prices
have reitialhed steady on the whole.
changes on the week.
Interest was mainly in long- dated stocks, especially 3 cent War Loan.
were
Mactices.
It is felt in GATT circles per here that a conference to redraft the
Shipping shares brightest spot in a dull market for Industrial equitiès. Else- where buying was of a selective shares advanced on substantial capital
nature.
But when it comes to deciding how export prices can best be
Colliery reduced or at least prevented
hopes from rising further the discus ion revolves around familiar returns in the coming months. arguments,
following, higter, auctión mand fores were again in de- prices but base metal shares were weak.
Indeed, the President of the Board of Trade himself touched
arguments the question of on the most popular of these whether or not proils are too i high.
He refuted the suggestion that cut in company prents could A second group of the misa aten, je expected to reach Japan bring about a reduction in a
The party port prices without affecting on Oct. 28 by air.
who sup will include the Transportu wages. Those
Win this argument, he said, tion Minister, Mahin
that taxation already takes Making
per cent of company Burma plans to purchase six about 60
profits. The femalrider goes not paris, diesel locomotives and
me only in dividends but has to pro- freight cars
SOMLO coaches. vide for the building of new The mission is also expected plants and the modernisation of
200 00
12.80
“T3 1000 en 17.0
600
6,20
ま
o
t
2004 014
Bali
10k land (N) IS 12.60
Humphreys
UTILYFIS
Tram!!! P. Tram (0) 50%
P. Tram (N) Star Forry
375 @ 1270
(20.70 2000 @ 20.00
a
100 @ 113
25.40 2000 & 25 26
C Light (0), 9.00 9.70 3500 C Light. (X) 0.95 0.00 N Izectrie Macab Elec. Telephone INDUSTRIALS”
Hope | STONES, ETC.
Dairy Watson
16 16.40 10.30 2013 1000 © 19,30
19.00 20 1300 20
20 20.40
Ainteres Stm Co COTTONS
Zwa....... 240
Japanese
and
passenger
to order 50 passenger ships of 180 tons each for use in inland waterways-Associated Press,
Power Production In America
New York, Oct 19, Electric power production In the US. rose to 7,697,080,000 kilowatt hours in the week ched October 11 from 1,005, 408,000 th's previous week, Eulson Eléctfie Instituta 2059feported.
greater
20.40
This was 7.6 per cent than the year-age week's output of 7,160,300,000 kilowatt hours
Associated Probes
old plants without which we cannot hope to compete in the world markets."
A CONTRADICTION Company directors were bo doubt "pleased to hear these obvious facts stressed by Cabinet Minister but they must de have wondered how Mr- Thorney croft expects British export prices to remain cont potte whether we like it or willle 00 per cent of conta er öronts are belig taxed
aldo
! been
enough
Tea
Copper states were depressect by the news that native workers in the Rhodesian copper helt are to go on strike for higher wages.
Other base metal shares re-
hected the reductions in the selling price of commodities, especially lead and tin.
US Production
Of Petroleum
certain articles might be called sometime next year,
But much depends on the dutcome of the Commonwealth
Prime Ministers Conference ins
London next month, when the Commonwealth's
attitude Lo- wards GATT és à whiờlé will be discussed. Router.
FEARS OF A SUGAR SHORTAGE
Washington, Och 19, Fear of a silkar shortage "wai volved yesterday by a group of major sugar users who said the exceptionally low qualis sel by the Secretary of Agriculture, Charles Brannan, cannot Ali, their needs this year.
Νον. 2
Nov. 15
Doc. 2
Oct. 21
Nov.
2 Nov. 19
For Fraight and Further Particulars please apply to:-
JERSEN & CO.
Pedder Building.
Tel. Nos, 86060-9.”
Dates and rotation subject to change without notics.
ports to load/discharġa cargo.
At liberty to proceed via other
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CARTHAGE"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
SPECIAL NOTE:
The group filed with Repre- New York, Oct. 19. gentative Harold Cooley, North Dally average gross crude oil Carolina Democrat, diirman of and lease, condensate production the House Agriculture Comeniilee in the United States increased a request that he ask Mr Broh 2,600 barrels in the week ended nan to make available under October 11, totalling 6,517,100 quota chough sugar to mice EMBARKATION: and compared with 0,929,350 | cóntikner requirements för 1959, Barrels a year ago, the American Pétroleum Institute said.
我
The statement argued: 1.The 1952 sugar supply
Reports from refining com- elsta set by the secretary is panics indiente that the indus 100,000 tons below his butt try as a whole operated at 98.5 estimate of what would be away.
The damaging effects of budi per cent of capacity in running actually required by American Hailstries to stills 0,054,000 barrels of consumers and users in 1952, high taxation on
This allotted 1,760,000, toñS' TOP whose first need la to equis crude oil 'daily. themselves to dece the
Finished and unfinished petrol the use. it. Competition for world urban stocks totalled: 120,940,000 bar-st
360,000 tids strtoond
oftero compared with 110/100,000y
noted that barrels an of the previous weak sheba uf 1901. It MADRID 246 question is now isbitlá | and 121,895,000 barrels, a you i Juhlar.'ntock - It commercial whether the Government go. Unfinished petrol stocks thinhtis are about 300,000 Lons tah Washington, oct Estol. policy is not defeat the totallot 7,303,000 barrels. The statement added that; lite
bolow inst World outgayon he purpose of commercial fetal herited petit pro présent dicipi, points to the
policy Ang wreck Inst guar," "The | US. dollar (98%, $1) latest total consisted of $200,- Sterling natë (ptr 21).
reach a level du per bent higher in short, is the patch High duction 10 ile united Bates possible. nood of action by the 213,000 in private construction1 Indonesian · guilder (per 100): 20.50 than 1061.prochaction by isto zavel of taxation meiing it im mounted to 29,032,000 barrels, next Congress to bar the soiting
next year, the Govament repossible for British Andinarios to against 23,401,000 barrels last of "unduly restrictive quotes,"
mad reompete in thesexpert markets?
Associated Pres. ported
This was 10 per cent above the average week to date this
year and compared with $341,-
Exchange Rates
6156,116,00 a le correspont-surgical or pra ea
673,000
preceding week
Budines, was dálò fil the thčal:
1344
and $127,124,000 in public con- Singapore (Straits) Pas
as struction Associated Press. FIC planyes-ipar, 100) sitt.) 11.m29
Blamticals (per 100),
Rayon
Production
FRIDAY the 24th October at 12.00 Noon for the UNITED KINGDOM 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 THURSDAY the 28rd October, 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's slings only.
Will take place FRIDAY, the 24TH OCTOBER 1962' between -9.80 a.m. and 11.00 a.m.
Business
Cards?
Orders Completed
In 24 Hours
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