MESSAGERIES M
"TRI HO"
Arriving
THE CHINA MAIL, THURSDAY, NOVEMBER 6, 1962.
Paro
but quellid onlimuovit poN
MARITIMES Colonial Contribution To The ROYAL INTEROCEAN LINES
Lenying
Nov. 13 Nov. 1
M
Outward_Far
JADAD
Homeward For
1
"FALAISE"
Nay. ("SAINT MARCOUF“ ... Nov. (#
"PEI HO"
.Dec. *
Nov. *
1 Nov. 20
Dec. 3
N. Africa & Europe N. Mrica & Europe N. Africa & Europo
1 For passenger and freight.
t. For freight to Saigon, Algiers, Oran, Tangier, Casablanca,
Havre, Dunkirk, Antwerp & Rotterdam.
Accepting cargo:
-via Marseilles to all Mediterranean & West Africa Ports.
via Djibouti to Madagascar.
Subject To Change Without Noties.
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong Queen's Building (gr, floor)
EVERETT
Tel. 26051 (8 lines).
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo. China, Siam, Malayù, Rangoon, Calcutta and Chittagong.
"REBEVERETT"
Arrives Satis
Nov. 10 from Singapore.
Nov. 11 for Kobe Osuka, Yokohama
Nugoya,
"NOREVERETT"
Arrives Swils
Nov. 23 from Singapore Nov. 24 for (Accepting cargo for transhipment Kobe/Fusan and Kebe/Okinawa)
Kobe & Yokohamuí.
EVERETT STAR LINE
Fast regular freight-refrigerator--passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
M. S. “STAR, ALCYONE"
Loading Sulla
Nov. 7
Nov. 8
Singapore. Colombo, Cochin, Kharram- shahr, Basrah & Bahrein.
for Bangkok,
M.S. "NORDSTJERNAN”
Arrives Salis
Nev. 10 from Japan, Nov. 20 for Singapore. Pori Swetten- Colombo, Madras, hum, Bombay, Karachi, Kharram shahr, Basrah & Bahrein.
(Accepting cargo for aranzhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION 5/A Queen's Building, Telephono 31206. Chinose Department: Telephone 28293,
American Business
At
Takes Look Future Prospects
New York, Nov. 5.
There is a rash of reassuring reports today about the state of the economy for the near term. Here is what a for business and number of responsible sources see industry in the weeks and months ahead.
Business looks good to the National Association of Purchasing Agents well into the first quarter of 1958 at least. But it predicts a steady movement toward a buyers' market with prices levelling off, or declining.
Easing inflationary pressure is any shortages over by the middle also foreseen in the monthly re- of 1953.. port of the National City Bank:
of New York.
the
new
The predicted drop next year in business spending on
equipment may not Business continued good in plants and October,
the Bank says, and be as sharp as some think. The the country is ex-McGraw-Hill Publishing Co., in although the
Plans periencing a boom, it is fortun-ja preliminary survey of of large manufacturing otely a sober one.
Clting
Federal Reserve pantes, finds their tentative pro- Board's report that its industrial grammes indicate their spending now programmes will be eight per production Index is at á post-war high, the Bank nays: cent lower than this year's re- "It would be hard to find any cord-a much smaller drop than significant evidence of weaken-some have been predicting.
LOW REACHED In mining circles, there was a Corporations, are doing better
autumn as far as profits are rift in the gloom. Lead and zing The Bank reports prices have dropped in recent concerned.
combined earnings weeks. Some
high-cost mines That
after taxes of 525 corporations have closed, and many in the Ji- for the July August and Sep-industry were having the tember
perters. quarter was three
But Industrial users made substantial purchases late dust weeks.
tho
cent above their pronts in
the
same months of 1951.
EMPLOYMENT UP
曝
of load And now many ac-in the metala trade think the
The job outlook is rosy, cording to the Labour Depart-price has reached its low. ment. It reports that employ Santa Claus is coming to the ment in manufacturing indusaid of business, too. Next month tries rose during September to a record $1,023,000,000 will be a new post-war high, with the distributed to Christmas Club consumer goods industries load-members. Edward F. Darect, Club, ing the way. The Department President of Christmas
trend
tach
To persons,
Pakistan Coal Output Up
Karachi, Nov. 5. Paklatan increased coal production in the first half of this year as com- pared to the same period of 1951, said an announce- ment of the Ministry of Industries.
It reported the mining of 321,907 tons as compared to 205,981 tons in the first aix months of last year, ap Increase of 21,05 per cent.
Petroleum production for the first half of this year was 070,030 barrels pepiņst 672,460 for the outthepond- ing period of 1951; SYPSUM
against 7,525 13,753 tons tons; chromite, 0,308 tons, increzae appreciable 10 over 1951; limestone, 88, 800 tons against 173,119 tona; fireclay, 3,089 tona against 980 tona-Associa led Press.
Export Drive By Engineers
Of Canadian Sales
Dollar Pool. Of The Sterling Area
London, Nov. 5,
Do the official figures published by the British Treasury exaggerate the Colonial contribution to the Sterling Area's dollar pool?
Dr Ida Greaves, an economist who specialises in Colonial affairs, believes they do,
Her argument, outlined in an article in New Commonwealth, is that the official Ogures bverrate the Colonies' dollar contribution because there is a "dollar" cost" of Britain's exports to them.
The imports of the Colonial territories, this argument goes on, constitute a far larger dralu upon the dollar pool than op- pears from the official figures of their purchases for dollars.
"If the total demands of the
territories Colonial
upon dollar sources were estimated, instead of their ol
direct
Imporis," Dr Greaves
doubtful said, "It Is whether the net contribution they make to the dollar pool would be worth mentioning."
This argument has now been refuted by another student of Colonial economic affairs; Arthur Hazlewood. of the Oxford University Institute of Colonial Studies.
an
ما
|
dollar cost of their imports from Britain, IL should also (credited with the "Colonia)-
raw material content" Britain's exports to the dollar
arca.
Mr
of
Stocking Makers Will Save
Length › Variations Eliminated
London, Nov. 5. Nylon stocking makers will eave hundreds of thou- ONLY ONE ASPECT
sands of pounds yearly as a Hazlewood proceeds: "Colonial imports from Brilainsult of a new method of varia- between 1947 and 1951 totalled preventing length £1,200 million. Four per cent tous in the manufacture of (the estimated dollar content of stockings. Hitherto, pro- Britain's exports) of this figure ducis, have differed in gives £48 million as the length by as much as four proximate dollar
inches. imports,
*TJIPANAS" "STRAAT
MALAKKA
Mauritius, V. Atties & £. America Japan
ampaspore pipkarta.
"TEGELBERO" *VAN HEUTSZ"
Nov. 13
Nov. 15
NOT. LE
Nov, 21 Nov. ĖS
Manila, Kingapore, E. & &. Aicion
-Japan
*TUWANGI"
"TABMAN"
Dec.
TJPANAS“
Dec.
"TFORLBERO"
Dec.
Manja,
"STNOST BOENDA” Dec. 15 "TJITJALENGKA?? Der. -THLUWAR*
"RUYS" "TJIKAMPEK”
13
Dgc. 10
Der, 20 Dec. 23
Djakarta,
“POISSEVAIN"
TASMAN". "TJIMENTENG" "TJIWANGI"
"TIRODAS"
"RUYE
Bec,
28
Majan
Dec. Dec. Di Jan..
ZA
Japan
«VAN HEUTEZ" **JILUWAN”
Jon.
Jan. •
Jun, 10
T
Jan, 10
(*THBANTJET" **WANG!"
fan.
19
Jappy
Web,
2
*STRAAT
MAKASSAR" "TJITJALENGKA"
TJIMENTENG"
Feb.
3
Гарка
rab.
Bingapore
Manritly
Pob. 11
THPONDOK" **TJILUWAI
"УТПЛАТ
MALAKKA"
SOMATADE.
Burabala
Diska, Kopjarang, Barabala
Diskaria
Singapore, Penang & Bolawan Dill tajala priprang. Burabigla a
BEACAMAT
Djakarta. BiMenpora, Mauritius, B. ASTICs & 8. America Singapore, E. & 8. Africa Japan
"Burabija • Hacamat
Japan
Macar
Djakaria, Serantes.
pjskaria · Bemarang, Surabpin
Bacar
Manila, KINKADORA, Djakarta, Mapships, §. Africa &, 8. America Bispo, R. & 8. Aizka
Blogspore Jakarta, Semarang.
singsport, Djakarta Semarang
Piekarta, *#* Affles & J. Amories brafilla," Singaporó & 8. Africa
ARRIVAL, S Уроку
*
Nov. 5 Nov. # Nov. 12
Japan Japan
BRCAJKAT, Bagabata.
Bjakarta & Sipsipore
Semarang,
Nov. 1.
Japen
TEL. 28015/18.
KING'S BUILDING, Ground Floor,
cost of these
"The direct Colonial contribu The method has heen per- to the dollar pool over there - fected by the Hosiery Rescaroli five years amounted to the Association and should make equivalent of £377 million. If nylons cheaper. It is being kept Mr Hazlewood points out in this amount is debited with the secret so that it cannot be BADANE"
article published in the cur- £48 million worth of dollar "pirated" by oversens Com
indirectly used by the Colonies, petitors rent Issue of New Common-
and United Kingdom Plan For Expansionwealth that it could be just as their contribution still amounts Brms which have not helped in
the research. easily argued that there is a to £330 million.
"Even If allowance was made dollar cast
cost of the Colonies' ex-
But Dr David Starkie, director for the dollar cost of Colonial of the where ports
Britain,
Association, disclosed from London, Nov. 5.
and materials im- machinery
non-that the variations produced by other, An intensive drive has
British been used in their production.
hardly possible that the con-reduced to less than an inch. boen started by
Similarly, it is arguable that tribution would be reduced to A way has been found of manufacturers to capture
less than £330 million.
setting machines to an accuracy from America the Canadian if the Colonies' dollar contribu
with the
"It is dificult to agree with of one ten-thousandth of an inch Dr Greaves that
a sum of this for each of the 2,000 horizontal market for the export of tion is to be debited
magnitude
not worth rows In
stocking. The engineering industry
mentioning."
stockings can also be accurately But this argument about dollar | measured while still being earnings,
Mr Hazlewood con- knitted. tinues, deals with only aspect of Colonial trade and payments.
ducts.
pro-
Ported from the dollar area have Colonial Sterling countries it is one knitting machine kaye been
A group, to be known as the OFFERS
Engineering Industries Associa
tion Canadian Export Group, Is being set up.
It will consist of 30 or 40 members of the industry, and will open premises in Toronto early next year to dent eft inquiries.
y
Weatherley, Mr R. S. managing director of a London firm of storage equipment manu- facturers, who has just returned in from a 22,000-mile tour search of orders, said: "America taking 80 per cent of the possi bie engineering business from Canadia. We are only getting something like 8 per cent.
tremendous There Es amount of business to be done.. It is
only question people over here being alive to the fact that everything today turna on speed--speed getting out quotations and speed in delivery.
#
OF
JAPANESE
ISSUES
Attractive Deals In New York
Is of
ond This is of paramount im- portance. A setting error, of one-thousandth of an inch can make 2in difference to the length of the finished hose.
FEWER "CASUALTIES"
"A blu saving will be said Dr Starkic. pussible," "ilitherto there were too many casuallies among fashionable. finc-gauge nylons just before packing and despatch to the shops.
when
AS A WHOLE The conventional view of Sterling Arca trade "triangular" pattern, in which the Colonies' dollar surplus is offset by a Sterling deficit.
It is, then, at the Colonial trade
whole that we must us a look, if we are to discern both the main
and problem
the reasons which have brought the question into prominence.
"They suffered In the fivu
between years 1947 and 1951, the Colonies had being matched and paired. With now are an export surplus £200 59 many variations coming fram
the same machines on the market. Of these, 10 million. Yet during these years
aid stock dividends or the
the professed policy of the have
shareholders the British Government was to help right to
to develop their at par (almost always 50 Yen) economies and to raise their standards of living at a greater in the last or three
Carl
New York, Nov. 5. A variety of stock issues of companies is being Japanese offerod in New York in deals buyers call attractive,,^_
Twenty-four
Issues
of the have ribe to new shares the Colonies
in
oľ
M. Locb, REVERSE and | rate than they could be expected
snags
highly skilled job; done mostly
CHINESE AGENTS: $2 CONNAUGHT RD. C. ÆKLS. 31196. 20173
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELFIA
SAN FRANCISCO, LOS ANGELES AND PANAMA NEXT SAILINGS
*M.S. "LAURA MAERSK” M.S. "LEISE MAERSK”. M.S. "GRETE MAERSK❞
Nov, 18
Dec. Dec.
ARRIVALS FROM U.S.A..
• Calling Vancouver
this is a
M.S. "GRETE MAERSK”
M.S. "JEPPESEN MAERSK"
M.S. "OLGA MAERSK”
by men with long experience.'
Despite the care taken, snags were still caused euslly, and this we
the kept ป
proportion of "seconds" produced by a Lac- tory. "Now, however,
Jess time and Space will
Girts and loans were therefore hotely a surplus of search
hns expressed interest in to achieve solely from their own STEEL DIFFICULTY
the
American resources.
devoted to this risky extra "There has, of course,
been underwriting
depository receipts for eight
and that should tend the difficulty of getting steel,
The fund will be used made to the Colonies to enable
to make nylons but we are getting all we want Issues.
them to pay for now, and we have been promised for trade.
A number of the Japanese imports. But, in fact, they have
是 workers by the
the every possible support
arms are preparing to register had a surplus of exports and
Association's Nottingham labora- Bosed of Trade-have- vastly.
their stock with the Securities this, together with a private tories hope shortly to announce more confidence in taking or
and Exchange Commission, so capital inflow, resulted
they have been able to that now thon ders
of Colonial Sterling adapt the new they may be listed on the New increase months ago."
method to all Curb Exchange, and
balances of £472 million, from forms of knitted wear. Thus bli £495 million at the end of 1940sleeve, foot and other sizes will "Financial sources say that this to £987 million at the end of be exact. marketing is very important to 1951. Japan, where post-war inflation pushed money rates extra high and left Japanese companies
in in I had three
Mr Weatherley's tour, in addi-York tion
10
Canada, covered Holland, marketed. Sweden, Norway, Italy, Belglumi and Elre. "Sweden is promis ing. They are always interested in something new, and although there are economic difficulties in Norway they are going ahead there..
much under-capitalised. The report is that, even with recent offerings, there is not a Japanese company with share capital of over. $10,000,000, restricted Associated Press.
"Australia seems to be picicing up again, too. We have recent- ly had a licence enacing us to reinstate an order which was Australia
cut when
her imports earlier this year. That is a good sign."
Despite the recent decline in
some British exports, partieslar: The Rubber
ly in the car industry, a note of was found among optimism several other export concerns. An official of the Britishi Agri- Manufac- cultural Machinery
"We turers' Association, said: are putting in a most tremendous drive everywhere we can.
"Our machinery is wanted, are competitive and our prices equivalent to anyone's, and our deliveries from the manufac- turers are good." An oficial of Manufacturers' the Locomotive Association said they had orders booked up for about two years.
LONDON TIN MARKET
Markets
Singapore, Nov. 5. Prices of rubber futures closed today as follows:
Number 1 rubber, per lb.
December
January
707-1 Ta-12
February Number 2 rubber, December Number 3 rubber, December Number 4 rubber. December 66-681 Spot rubber, untaled
67-00 902-207
Blanket crepe No.. 1 pale crepe Unlied Press.
LONDON MARKET
·
The
⚫ rubber
23-231/
There will be fewer nylon THE FACT
stockings in the shops during the It is the fact that events have next six months. Manufacturers falled to conform to the pro-have been informed that their tessed intentions of policy which allocation of nylon yarn will be accounts for the interest now cut during the period Nov. 2-Moy focused on the Colonies dollar A Board of Trade spokesman earnings, says Arthur Hazle- said that the cut would not be wood.
azi
requirements must be met.
MNS
Nov. 18 Dec. 1 17 Dec.
For Freight and Further Particulars please apply to:---
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel, Nos. 36066-9.
Dakoj" and "pitation eplezt to change without notice.
At hory to proceed via other porta to load/discharge cargo.
Canadian. Wheat Sets A Record
Western
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning totalled prices and
3701,607,70. Noon AUSTRALIAN
ure the
"I
Colonial territories large, but export and defence were obtaining
adequate supply of Sterling imports, of appropriate kinds at appropriate prices, to raise their standard of ilving and to help their economic development, the
situation would be greatly changed,"
ged," he writes. "The Colonial dollar surplus would then be seen as one side of a mutually beneficial Sterling Area trade pattern, and would cease to be sem as an example of Colonial Exploitation."
-(London Express Service)
Sugar Output Forecast
GIFT OF TRACTORS
Wheat Board
the morning's transaction93— SHARKS BUYERS SELLERS ĮSALES BANKS
INSURANCES
Contor Indon
111413
229
780
Winnipeg, Nay, 5.
Canada's record wheat crop has been harvested in good condition, demand is excellent and export sales are being made in record volume.
Canadian Ад official of the
confirmed ports that forward commitments
ship Bank 1410 made to thin wheat to other countries future months,
-- *** heavier than at any time in history....
SIDERING The port of Vancouver ... is
Waterboat unul the end : nf : booked solld the crop year, July 31, 1953, DOOKS, ETC.
K. Wharf N. PO Whate and the Wheat Board is turn-
Djock calling for the Pacific Ing down busincas shipments through const .port.
Aamilar situation is rapidly being reached in connection with export sales for shipment through Eastern ports.
officiala said Canada's
under The Interna
meu!
tional tional Wheat Agreement. Is just
Colombo, Nov. 5. ... Book The Government of Australia has made a gift of 100 tractors, with equipment and spures, to Ceylon under the Colombo Plan, In making this announcement, the Minister of External Affairs New York, Nov. 5.
E. C. Casey, sald that the Gov Western Europe's sugar aut- ernment of Ceylon had brought London, Nov. 5, put during the current crop year to the attention of the Australian
market was will be about the same as last Government
a programme for steady today. Prices closed as PCGSOD, B. W. Dyer and Co, overcoming food shortages and sugar economists and brokers, or reduction of Ceylons dó- follows:-
estimated. Production was propendence on uncertain supplies Number 1 rubber, in penca
dicted at 6,900,000 metric tons, of rice from overseas sources. per lb.
value, compared
'with December January/March
0,032,000 tons last year. April/June
Lower output in France and 215-23 July/September
United Press.
Germany is expected to be cfset by higher yields in other NEW YORK MARKET
New York, Nov. 5.
European areas. Associated rubber futures Press. of Prices 350 closed unchanged to 20 points higher with soles totalling 15 buying Scattered contracts. appeared with higher cables and the rise in securities. Prices closed as follows:
nominat
London, Nov. 5. The un market was steady this morning. Tumover was 30 tons including 25 tons for cash. Prices closed at the end of the
ression official morning follows:-
Spot in, buyers
Spet tin, willers
Business done at Three-months tin, buyers Three-months tin, sellers Business done at Settlement
da
050
as
0201
סנט
United Press.
New York Metals
November
December
January February New York, Nov. 5. Prices in the incial market March 11,712,000 also cites a significant down Inc, say, will get en following exceptiores
The pril closed unchingda with
"May: June 1rend
Jobless in
benoit also -a record,
Amerionn, 1994) July average of $87.35
Antimony payments.
Marrshunts, who have been
Septembar The National Production Au-
per cent trade in bulk) carload August
Texas, in eonis lots, FOB.
October thority, looking at the fight predicting store sales will est a
A November supply in some heavy construc-record this holiday season, ex-: 3409.
Lead, common, New York, December that poot a major portion of the. tion equipment, reports
flow per 1. 14,00 centa United January
Spot production is increasing and Christmas Club funds to
Press Thinks that builders should and their way-Associated Press.
20.AS
08.70 bid
2131 nominal 26.74
25.00
New Motor Oil
"
Provida,53
12.00
80 304 2230 @ BOLS
0.00 0.05
6'hal: Dock: 1.00 Wheelock LAND ETC.
HK Hote HS Land (0)
!} 'Lead {N}
Ebel - Land Humphreya Holky...
TELES
Eltar Terry 110 C." (Q), 0.00 14 (NÍ, 0.49 Ta phone INDUSTRIALS
Cernem Rops
about filled, with not more than about 5,000,000 bushels remain-
Tesen The Intention is to applying to be sold as wheat in the mechanisation to Coylon's rice final year of the agreement. fields and, to extend the acreage Canada started the new reason commitment of IWA under cultivation.
with an 235,000,000 bushels of which som sere 50,000,000 bushels were to be taken as flour.
Trade repods, here yesterday aid 100,000,000 bushels of the Brotts remaining 105,000,000, bushels of wheat had been sold.
Sales agreements with Britain, COTTONS
Ewo India, Japon, Norway and Switzerland had necounted for the bulk of the IWA comerit-
The Australian Government has decided at it can make an effective contribution to this programate in the form of a gift of 100, actors with puncilfury and agriculturai
equipment cpares to the value of A£200, 000 United Press,
Outstanding Cadetment Associated Preis,
130
3000 € 2.18
20:30
0.00
23.10
200 † 1840
120.20
Dary
10.30
2000-020.401
220 230
Exchange Rates
New York, Nov. 5. Development of a new, all- weather motor oil particularly multed to modern high-com- preadon engines was announced. yadterday by Standard Oli Development Co., research and 20.37 nominal engineering afiliate of Standard
London, Nov, D. Second Lacutenant B. D. 2372 nominal Oll Co. (New Jersey), 25.43 kaked Company official. uld the Richardson of Camberley, Sur 2350 nominal lubricant will make it possible rey, hink, receiver the prize: 2010 asked
for high compression ratio on-sword as the most outstanding ginds to operate efficiently on gader to unter the Boyal Army petrol having a lower detana Ordnance Cóeplatom the rating than would otherwise be Royal Military Academy, Sand-tealing his 35th bike, Asso-am uicals (per 100) required.Apsociated Press.
2015 nominal
$50.00
died Press,
turst, last year-Reuter.
Bicycle Thiet
Cagliari, Nov. 5. Sardinian bioycle thiet as arrested here today after
A
clated Itress.
unofficial
-market ibis
Fradreilng 'et"the" following rotes
Buntont-wen done
in the Tocad
A. Alar, (per)
Bierbing, note" (per" Indonesian gulders
Singapore (Birafta)))
PICS, plaatzen +(pwe"100)