MESSAGERIES
MARITIMES
M
"SAINT MARCOVF" **5-Oct. "PEI HO"
*"FALAISE"
*FELIX ROUSSEL"
**SAINT MARCOUP"*-
Lesting
M
Dutward For
undig' ta 'po
Arriving
23
...Nov. 18 Nov. 19
Nov. 3 Nor. 3 Που. 4 Nov. 5. .Nov. 18 Nov. 19
For passenger and freight.
Japan
Homeward for
N. Afries & Europe Marseilles via Balgos1
N, Africa Europe
+ For freight to Balgon, Algiers, Oran, Tangier, Casablanca,
Havre, Dunkirk, Antwerp & Rollerdam,
* Accepting cargo:
-vla Marseilles to all Mediterranean & West Africa Porta. -via Djibouti to. Madagascar.
#ubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong
Queen's Building (gr. floor)
Tol. 26651 (3 lines).
EVERETT
E
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 l'orts.
"LENEVERETT"
Arrivez Sulls
Oct. 23 from Manila. Oct. 24 for Singapore,
Rangoon &
"REBEVERETT"
Arrives Sdil
Penang, Calcutta.
Nov. 7 from Singapore. Nov. 8 for Kobe & Yokohama.
(Accepting cargo for tranabipment Kobe/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 Ports.
FIRST CLASS PASSENGER ACCOMMODATION M. S. "STAR ALCYONE”
Loading Soil.
Oct. 24 Oct. 25
for Singapore, Bangkok, Colombo, Cochin, Bombay, Karachi, Kharramshahr, Busrah & Bahrein,
M.S. “NORDSTJERNÄN”
Arrives Salls
Oct. 25 from Singapore. Oct. 28
for Kobe, Nagoya, Yokohama & Osaka.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206. Chinese Deportment: Telephone 28293.
Decline
In Bombay Bullion Dealings
Bombay, Oct. 21.
A sharp contraction in turnover is believed to be causing concern to bullion dealers in Bombay, where the volume of business every month was once usually the biggest on any exchange in India.
The Rubber
Outstanding transactions at the end of every settle- ment in Bombay used to average between 20,000 and 30,000 bars of silver in the past, as against about 7,000 and 10,000 bars at present.
Some quarters fear this is largely due to the diversion of business to up-country centres. the more important of which are situated in Calcutta,
Indore Cawnpore, Jaipur and Delhi.
They reason that Bombay's already existing stamp duty of sx annas per bar of silver as the present traded, as well Multiple Sales Tax Act, which imposes a. similar duty of six annos every time a
ma e bar changes hands, have
militated against trading enthusiasm in the elty.
taxes,
they point out, ard provincial and do not apply
other centres to
which
These
STC
situated in different provinces in the country, and have thele
own sales tax laws.
་
BOARD'S REQUEST Others, however, maintain the causes Aro different.
They argue that there have been long spells of dullness in the bullion trade in the
past, and that the lack of incentives in the recent
Markets
Prices
Singapore, Oct. 21. of rubber futuros closed today as follows:- Number 1 rubber, per th
November December January Number a rubber,
November
Number 3 rubber,
November Number 4 rubber,
November
7316-74 手の指
GU-055
04-0434
Spot rubber, unbaled Blanket crepe No. 1 pale crepe
07-102 -imunited Press.
NEW YORK MARKET
New York, Oct. 21. Prices of rubber
futures closed today 25 higher to 5 points lower with sales totalling 11.contracts. Dealers described tightnces in the money markel, the spot market as extremely and the tendery among power- dull with only a
Low sales re-
past has thrown
Own a col
cold damper
on trading enthusiasm... -
also maintain that the
ful sections of bullion dealers corded.
to form syndicates
the market... os
to squeeze | November opportunities December
*** January (1933)'
présent, act as strong deterrents ebruary
to less powerful sections to enter arch,
the market
for
speculative App.
May June order to elicit general July
dealing on a large scale.
October
opinion on the cousts. of the Aurist alump the Bombay Bullion September Boards
reported to have November circularised its members, and December their reaction is. awaited. January (1904) United Press,
Spot
2710 nominat
2005 bid 20.31-nominál
25. nominal 15.25 bil 25.02 nominal 34.00 bic 27 nominal
23 bid- 24.22 nominal 34.30 norminal 29.15 nominal 24.10 nominat 36.10 nomin 4.30 nominat
THE CHINA MAIL, WEDNESDAY, OCTOBER 22, 1952.
DECISIVE CONTRIBUTION Colonial Role In Sterling Area Trade With U.S.
Burma Unable
To Repay
Rangoon, Oct. 21.
A Burmese financial mission is going to tell Britain that Burma caETAGÈ yet repay £27,800,000 debt she promised to start paying off in April this year, according to ugually well informed sources here.
20
Na provision for pay. mont promised in equal instalments, WRI mado in the Budget passed Last month,
Termi of repaymani in treaty were agreed
nigned in 1947.
The minion, led by the
National
Planning Minis
ter, is to leave day.-Reuter.
on Satur.
Japanese Trading Policy
The
Only Countries
Increase Dollar
Not To Imports
London, Oct. 21:
Page
ROYAL INTEROCEAN LINES
TARMAN S *VAN BRÜTAZ”! "MARTBUYCKLA“
*UK" "THWANGI" *TJIPONDOR"
*ISIBADANG"
*TIPANAS” “TJLUWAM".
MITRAAT Sch
MALAKKA
"TEDELDERGİS
The report on Commonwealth trade in 1951, published by the Com monwealth Economic Committee, shows that once again the contribution. "VAN ETS2- of the Colonies in the trade between the Sterling Area and the United States was absolutely decisive, says the Financial Times in a leading article.
F
All other countries belonging to the Sterling Aren increased their Imports of U.S. goods, some of them by appreciable amounts, the paper points out. The Colonies alone did not.
At the same time, the Colonies carned some 250 million dollars more than in 1050 by their exports to the United States, a much bigger rise than that achieved by- any of the independent members of the Sterling Area.
01
to
"What this means," the Mr d'Egville goes Financial
goes on, "fs | advocate "an all-embracing plan Times that the. importing spree in for Commonwealth co-operation which many Starling Area and development," the first alm countries, including the UK, of which should be an expansion indulged in 1981 was only made of trade to "a volume hitherto possible by the restraint of the undreamed of." This, he adds. involve wlth- Colonies, coupled with the ex-
will necessarily pansion. of their collar drawal from GATT. "Imperial earnings."
preference has been hamstrung too long."
It has been suggested that Britain
exploiting the Colonies, and that this fact is shown by the continuous rise. In their Sterling balances. The truth, the paper says, is that the London, Oct. 21. benefits of this "exploitation" Today's Daily Telegraph are much more widely spend.
that India stressed that it was neces-To the extent
Ceylon's
Trade With
Red China
Colombo, Oct. 21. Export trade between China and Ceylon is expect. ed
"TJIWANĢI
"TJIPANAS"
"TEGELDERON
USAILING BY FELTÉ
singapore & Ojakarta
Nov. Nov.
*4, Japan
Nov.
Ribgapore, Bjskarta,
Djakarta, Kamarang ►
Heniarang,
Nov. 11 Kor. 16
Nov. 18
Nov. 20 Nov. 22
MÉKEKMAK,
Singapore, Djakarta, Mauritius.
1. Alekah., 84, Amerien.."
Bingapore. Djakarta, · Semarang,
Sarabala, A" Macassar."
Manila, Helawan
Ringapara 2. & B. Africa & 82 America
-Jeputa
Djakarta, Remarang," - Eurábala - A
Alkisar
Sematang<
Djakaria
ReTabela & Mincantar
Dec. 2
BlogGra
Dec. A
Des.
"STRAAT BORNDA" Dec. 10
"TITTJALENGEA":
TILUWAU"
"PJIKAMPKK"
"ROSESSVAIN" "TJIWANGI"
"RUYS"
"VAN 'HEUTS2" "TJILUWAN"
"THDANTJET" "STRAAT
Djakarta Semarang. Buranala, a
Bincassar
Manila,
Ringapore. Djakaria, stamritius, S. Africa & 8. Americx Manila, Singapore, & 8, -Aftles Japan
Blugapore. Bjakarta. Semarang,
Surabala atacakar
Diskurts. Semarang, Burobkia
MACHARE
Djakatls,
Burabale & Manusiar
Manila, singapore.
Dre. 12
Dec. 10
་
DIC.
13
Ner, 31 240. Z
Jan,
Japan
Altgapore,
Jal
10
Jan.
18
Гал.
14
Fab.
Japan
Feb, 2
Feb.
MAKASSAR” "THIWANOP".
"TJTJALENGKA”
Bemarang,
Djakarta,
Mauritius, 5. Africa & 9. America
Mandia, Bingapore & B. "Africa
Bingapore, Djakarta, Beniarany.
Gurabals & Macrisar
Jipat
Singapore, Djakarta.
Surabats & Macausar
Bemarang
Ringapore, DJakarta, Mauritius,
9. Afplen & 8. America
From
ARRIVALS
Djakarta,
Nemarang, Kurabata,
DESCRIEAT & Singapore
"VAN BRUTIZ“
"TABMAN" "THWANGE
17 Part
In Port Ort.
·Japan Масалан,
Det.
Surabria, Reniarang," Djukaria & Singapore America. 8. Africa, Mauiilor, Singapore à Manila
to reach approximately "vs" £18,750,000 annually on ench
sary to be sure that Japan Australia use more dollars, as contend that large-scale migra- } side.
conducted her trade on fair basis.
A
But the Conservative paper also argued that it was
they did last yoar, there are fewer dollars available to cover the Colonies' needs.
"This,"
Im-
It continues, "la an
of
The wider Commonwealth plan, Mr d'Egville confinues, should alm al decentralisation of population and Industry "which means that Britain's re- luctance to export her youth and technical skill needs to be and overcome."
The enswer to those who
lon is a mistakon policy is, according to Mr d'Egville, seen The Ceylon Cabinet approved today in South Africa, where on Friday a trade agreement British traditions and the
between the Government of rule of law
in jeopardy because Ceylon and the Central People's brant that Jupan should be aspect of Sterling Area finance of our past failure to contribule Republic of China, which was signed in Peking on behalf of faced by the independent The movement of
by Mr Richard member countries in the past and capital shoul integrel
the Trade and There has been a tendency to parts of an imaginative migra- Commerce Minister, who headed
"the think of the Colonial balance of tion policy, and this new Im- payments as 'Britain's business perial conception needs to rest mission to China,
recent Ceylon official trade And so it has been, up to ย
on the
secure foutidalion of "Jugan's application to be-
point,
education and knowledge of each come n party to the Central
"But it is ceasing Agreement
Terlife
to be so other. und awk-as some of the Colonies assume
The Commonwealth and nearer
its
conduct of their own economic subject in the curriculum of affairs....The conclusion is that schools; advanced studies should self-governing be instituted at the universities the Sterling Aren and technical colleges," will have to adjust their be- d'Egville concludes. when the dollar haviour 10 a new situation, corntage of
able to sell her goods where which has never been frankly more settlers to that country's s
they were wanted.
Otherwise
she
would
bc
forced into the arms of Moscow and Pelting, the Daily Telegraph velled.
on
increasing responsibility for the
members of the present
Trade brings here my people would like to postpone.
be admitted at the "IL
Bay outset that a densely populated of islands like Japan group
must trade to live..
"We are in the same position ourselves.
Colonial costs in some of the present "How
territories will not be made
can wage
Japan be levelled up to ours, automatically available to them or ours lcveiled to the Ameri wing the Daily Telegraph ask-at the behest of Whitehall.
ed.
"Even if they could be, the problem would not necessarily be solved with materials and access to markets entering into the trade.
NATURAL MARKET "Japan is moreover denied access to a natural market in China and it is therefore all the more important to her that she should be able to sell her goods in other parts of Asia and in Atries where they are wanted.
"Otherwise we should force har into the arms in Moscow and Peking.
་
WILL WANT PROOF
ཝཏྟཱཝཱ།། the new ex-Colonles agree to continue to exerelse restraint in, their dolle import policy, they will expect proof that. other - members of the Sterling Area are doing the same
and also making the maximum effort to Increase their contributions to the dollar pool....
"The problem of the economic future of the Colonies which are now moving lowards inde. pendence should stand high on the agenda for the Commmmon- wealth Prime Ministers' Con- ference in November."
The Economist" also com- ments on the increase of £75 million in the Colonial Sterling balances, reported in the White Paper on the UK's balance of payments for the first half of the year. These balances,
have points
more than
"We should have grounds for complaint if Japan resorted to the misuse of murks of origin, or other malpractices that have not been unknown in the past.
"That is why the appointment of a committee to study the labour and commercial laws re- cently passed is the right line of approach to the Japanese ap-doubled since the end of 1047. plication.
**TIE fact," it DAY'S, "West Africa and Malay seent to have been second only to the United States as capital exporters in the last few years.
"We want first of all to be sure that Japan trades fairly.
"We want also to ensure that our supremacy in high-class goods continues.
"But we never can be sure, and perhaps never ought to be, that fair competition in lower class goods will be eliminated," the Daily Telegraph concluded. -Reuter.
"Many Australians would no doubt be surprised to know how far thoir uneconomic in- dustrialisation
programme has been financed by Mr Nkrumah's Point Five aid."
should form
significance should be a distinct
•Seylon ke..
agree-
The preamble to the ment said that it was moved by a desire to promote and enlarge to the greatest possible extent
two countries.
coninterse and trade betiveen
Mr the
-(London Express Serolos)
HONGKONG SHARE MARKET
(From Our Correspondent)
Business Exchange this morning amount- done on the Stock ed to $277,033,85. Noon prices and the morning's
trans actions>- SBAREB ́BUYERS BELLERS SALES | BANKS →ng
HK Bank 1410 1420 East Asia INSURANCES
Canton Union Underwrliers HK Fire
SHIPPING
Waterboat Anta Nav
140
7071
130
DOCKS, ETC.
K. Whort 01 N. P. Whart 6,00 4.79 Bock
................ 21.00 21.90 Provident...
12.00
Shal Dock 1.90 Wheck 2. 4032 4422-400 LAND, ETC.
lk Hotel
HK Land (0)
0.00 0.70 1000
+
1.
(N) 'bal Land 13% Humphreys .. UTILITIES
23
TYRTH
Peak Tram
(0)
Penk Tram
{N}
WIDER AGENDA QUOTAS ABOLISHED
Tokyo, Oct. 21, A closely integrated Com- Japan has abolished quotas monwealth economic policy musi fur exports of steel and textiles be aligned with migration and to the Sterling Area, the political, educational and Ministry of International Trade cultural matters, wrlies Mr and Industry has announced.
d'Egville in the sama
From October 18, steel and
be needed for Quotes
Geotion.
the Commonwealth
"Commonwealth solidarity de- pends in the long run on the pooples and individuals who contribute to it, whether their contributions consist of financial and commercial genius, inven- tiveness in the arts and sciences,
While the exportable quanti- ties of rice and rubber will form he subject of special proposals, the agreement lists a variety of exportable
commodities In- cluding coal, wheat, flour and newsprint from China to Ceylon and coconut oil, cocoa and hides and skins from Ceylon to China-Reuter..
BRITISH ACTION
London, Oct. 21. Britain has transferred £9,- 400,000 to Ceylon to be held by the Central Bank of Ceylon es a currency reserve, according to a White Paper issued today.
Ceylon has agreed hot to draw British Government previous consultation with the upon this sum without
20
KING'S BUILDING, Ground Floor. TEL. 28015/18. CHINESE AGENTS: 82 CONNAUGHT RD, U. TELB. 31198, 25133
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. “LEXA MAERSK” M.S.
"LAURA MAERSK”
M.S.
"LEIBE MAERSK”
M.S.
"LAURA MAERSK"
M.S. "LEISE MAERSK”
Nov., 2 Nov, 15
Dec. 2
In Port Buoy A5
Nov. 2 Nov. 19
ARRIVALS FROM U.S.A.
M.S. "GRETE MAERSK”
For Freight and Further Particulars please apply to:
;
AGENTS:
JEBSEN & CO
The White Paper contained Fedder Building.
of letters an exchange
dated September 9, 1952 between the two governments, concerning Ceylon's Sterling nssets.
The White Paper states that paragraph six of the annex to the agreemerit of April 30, 1948 no longer apply from January 1.
الأي
Tel. Nos, 86066-9.
Dates and totallon ambject to change without notice.
At liberty_to proceed_sla....other... porta - to - load/discharge-cargo:-
Paragraph six of the annex PENINSULAR dealt among other things with arrangements pending the esta- blishment of a Reserve Bank by the Ceylon Government
Ceylon's Sterling balances, which stood at £51,000,000 in 1948, were believed to be about 445 £40,000,000 in December 1950.
Router.
2000 0.00 58407
100 08 100 G 3715 1095015
-1000 1.30
374 +1-2718
20 20.30 1000 € 20.20
400 @ 133 400 114
C. Light (0) 9.00 9.70 150
1.00
100. 0,05 000 0,00
Japan Second To
Britain
London, Oct. 21,
& ORIENTAL
KOS SE
STEAM NAVIGATION COMPANY
R.M.S. "CARTHAGE”
BAILS:
NOTICE TO PASSENGERS
Japan became the jeading BAGGAGE:
C. Lt (N) 0.43 015 1000 6.49 country Macho
Elec. 10,00
180011-
in shipbuikling after
Telephone 1740 17.70 1200 17.70 Britain, this year, according to
500 € 17.60 Lloyds, INDUSTRIALS
of steamships The tonnage Cement... 17,70 18.40 100 20 Rope
and motorships under construc- ...I HAO 1000 101 on In Japan in the STORES, ETC.
quarter Dary
ended September 30 was 603,- Walzon
500, coTTONS
Z. Crawford
Ewo
19.90 20.10 2014 1000 '0 20
2030 2500, @ 2013
11.45 2.50
LONDON TIN
MARKET
London, Oct. 21.
an increase of 146,887 tons.
Of Britain's 2,802,482 tonnago SPECIAL NOTE:
of under construction a totel 645,017 representing 93 ships, was for registration abroad or for sale.
The total world steamship and motorship tornage,
clusive' of Britain, China
textile exports have been He urges a widening of the freed from restrictions, agenda for
all except that licences, will still Frime Ministers' conference to stcol exports. include discussion of all Com- will also be retained monwealth relationships-"even for textile exports to distribu- those which, at first sight, seem tion centres,
ea, including Hong- to be only remotely connected kong and
Bingapore,
with economies." The restrictions were imposed In March because of growing accumulation of Japanese Sier Ung holdin resulting
from excosa exporta in earlier mouths, Trade sources sold the Japaners Government is now seriously
Found and Rumia, being built EMBARKATION: considering measures to promote
The tin market was very at the end of September, was or achievement in the humani-steady, and exparts to both the Sterling and
quiet. Tumover 3,802,301 gross, an increase of open account areas because of if over there was aharp declines in exports to there destinations.
opportunity for
for cash. Prices closed at the with last June, Q. Comumon end of the official
morning March, Sterling Area wealth Since
now surely if session as follows: 1th crusade, nations have limilled Imports the moment, he states. Such a Epos un, burgers from Japan) and the Japanese crusade would be far removed Spot un, sellers
from outmoded
Business alone at restrictions have been : máln- i tro
conceptions of. Three month tim, buyers tained in name only Reuter, Imperialism, and
and would have re-rea-months tin, wellers to the Otitaidots of countries Burner done t
Commonwealth. JAPANESE BONDS
Britain "must recast her trade polley and "redirect; energies and Inventive tenius, into new channels, ho
London, Oct. 21. Japanese bonds
"A" (4%, of 1800):
"B" (4.,of 10)0)
"C". (08, 01-1907)'
fier." Mr d'Egville Coa and was 20 tans, including Rye tons 264,419 tons when compared
working towards
•het
on
Settlement
:」
1641/
强
95414
United Pres.
Figures were not available for China, Poland and Russi→→→ Reuter.
NY Soods And Oils
New York, Oct. 21,
FRIDAY the 24th October at 12.00 - Noon for the UNITED KINGDOM. vin 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 23rd 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 FILIDAY, the 24TH OCTOBER, 1952 between 9.30 a.m. and 11.00 a.m...
BUSINESS REGULATION
ORDINANCE
1952
Prices in the seeds and olla Copies of the prescribed
unthanged
Exchange Rates marked closed banged with Forms 1 (a) 1 (b) and 1 (c)
on. By *Thinines was done in the local
Peanut oil per lb. 7.0.0. in unofficial exe
market this New Yoric, 184-cents. 1854ogration the wealth can 1 möning at the following rates
0.8) dollar (per #1) 102 attain a degree of self-sufficiency Sterling note per 211
60
12
*D (58. of 1934).
"E" (5148, of 1020
nominai Consols
19.78
Cassin oil, por: ib. F.0.B. New York 3.00-6.25.
Now On Sale at
United i
S. C. M. Post, Ltd. Hongkong and Kowloon: TEN CENTS EACH:
Flax seed, per bushel, F.ON, 1100 Minipolis $4,05.
151 matched only by that of than Indonesian gilderss(per: 100) 2079
United
States, and greatly lam tenis per 100).
"Bingapors (8ifa:10); exceeding that of Russie,,
"FIC@plastres (per, 100)
1 Press.
SWING-O-RING. STUDENTS
NOTE BOOKS
IN THREE COLOUna $6.00
BUT YOU MERILLO $1.60
BC. M. PORT- HONGKONG and KOWLOON,