+
MESSAGERIES M
Apricing
"LA MARSEILLAISE” "FRY-HILL."
"ST-MARCOUF"
**PEI HO" ·
THE CHINA MAIL, WEDNESDAY, NOVEMBER 19, 1952.
Page
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Leating
........ Jan.
.Der, 4 Bee.
23 Ja
M
Confward Va
Yokohama & Nobe
Homeward
Krelant Nay, 18
Hongking Nov. 21 Nov. 2. Africa & Europe
*"LA MARSEILLAISE”
*MONKAY"
Dec. 8 Dec. 10 Deo. 13 Dre. 10 Ja
N. Aftira & Europe
Marseilles via Drapilą
Jan.
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• For passenger and freight.
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Accepting cargo:
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object To Change Without Notice.
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EVERETT
Tel. 26651 (3 lines).
LINES
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Fust regular freight-refrigerator-paasenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"NOREVERETT”
Arrives
- Salle
Nov. 24 from Singapore. Nov. 25 for Kobe
"REBEVERETT"
Arrives Soils
& Yokohama,
Dec. Dec.
U
8 from Manila,
for Singapore, Rangoon
Penang, Calcutta.
(Accepting cargo for translipment Kobe/Pusan and Kobe/Okinawa)
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Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Stam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
M.S. "NORDSTJERNAN”
Arrives Sallg
Nov. 22 from Japan, Nov. 23
M. S. "THAI“
Arrives Soils
for Singapore, Port Swetien- burn,
Colombo, Madras, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein.
Nov. 24 from Singapore.
Nov. 25 for Kobe 8 Yokohama.
(Accepting surgo for transhipment Kobe/Pulan and Kobe/Okinawa)
EVERETT STEamship corPORATION S/A Queen's Bullding, Telephono 31206. Chinese Department: Telophone 28293.
Problem Of Dollar Payments Solved?
New York, Nov. 18.
An International Monetary Fund official reported
that a greater part of the world's dollar payments problem has been solved,
Mr Ivar Rooth, Managing Director of the Fund, told the delegations to the 30th National Foreign Trade Con- vention that pessimistic views about the dollar problem are unjustified and do positive harm.
to
a
Differences Of Opinion Between Two Countries
Sugar Talks
A Failure
Tripel, Nov. 18,
Talwan Sugar Corpora- tion sources stated today sell to that Degollations
Japan to Talwan sugar have falled due to the lower prices of the item un the international market. These sources belleved that it would be neosmary the prices of locally-produced sugar in order to compota with International market prices. -France-l'rosse.
to
American Canners Worried
Competition From Japanese
of the local industry into con- fusion.
Is
Britain Believes Japan
Pursuing Wrong Policy
(FROM OUR OWN CORRESPONDENT)
London, Nov. 18.
British Government officials are surprised at recent reports from Tokyo that Japan has asked for a meeting with Britain to discuss all out- standing questions of trade and payments between the two countries.
In fact, no formal request has yet been received from the Japanese . Government for talks, even on a renewal of the Anglo-Japanese payments agreement which is due to expire in six.weeks' time.
Reports of pending trade talks between Britain and Japan probably arose out of a misunderstanding of the purpose of the recent exchange of memoranda between the two countries.
It is known that this was con- cerned with the future of Angio- Japanese trade relations but there is no suggestion that either country has asked for formel talks on the subject.
There are, however, certain differences of "opinion between
Britain's restrictions on imports | from Japan. This would not corno within the scope of the forthcoming payments talks, he sold.-Unlied "Press,
JAPAN'S ECONOMY
Tokyo, Nov. 18.
The Japanese Finance Minis».
atly
Britain and Japan on the que ter. Mr Tadaju Mukai, today tion of trade and payments which the British Government are no less anxious than the Japanese Government to resolve as soon as possible.
to
Washington, Nov. 18 The former chairman of the f Basienlly, these outstanding Fish Conners' Association of differences are concerned with California, Mr James B. Lane, the accumulation of a large aid here today that the mass Sterling balance by Japan and import of Japanese tuna and arising out of this, the restric- -bonita from South Americations which certain Sterling Aren has thrown the price structure countries have been compelled
imposo on
Imports from Japan. Mr Lane, who is representa-
Japan's Sterling balance has live of the San Diego Tuna
result of recently fallen as Canning Factory, said during a
Increased Japanese purchases of Press conference. which coin-steell
Area raw materials but, Sterling cided with the opening of the even at the present reduced investigation af the tuna level, this accumulation of market by the Custonis Tariffs Sterling funds remains a source Committee, that it was neces-of acute embarrassment to the sary to have rapid protection British authorities,
the local
Tunn industry through tariffs or import conditions,
The tariff of 55 per cent on tuna oil was insuficient in view of Japan's cheap production, he said,
for
the imposition of
Attacking President Truman for his policy. Mr Lane said that the State Department ex not understand fire fact that North American tuna produc- tion was adapted to American standards of living and it can not compete with production of exceptionally low cost in Japan and other countries..
Mr Lane said that the crisis In the national luna industry when Japanese began in 1848 industry once
more became a serious rival.
le claimed that American luna producers do not wish to cut uns Imports but the local survive if the industry cannot home market becomes a ware house for foreign competitors.
Japanese exports of salted una increased to 8,000,000 pounds in 1951 and will reach pounds this
BRITISH VIEW
dented that Japan's conomy was on its way back to normal.
Mr Mukai said that his denial was perfectly justinable if one takes full cognisance of the current lull in foreign trade, It was impossible for Japan alone. to be an exception in a world suffering from a recession. ports that the Japanese economy was "in the process of return Ing to normal."-France-Presse,
He was commenting on re-
IMPORT LICENCES
London, Nov. 18, The Board of Trade announced today that it is now prepared it grant licences for import from Japan of a limited amount of silk piece goods during the period unding September 30, 1883. This continues the arrangement which expired at the end of September but the value of Imports in the The British view is that the new period will be reduced by Sterting Area restrictions on im-one-fifth-Unlied Press. ports from Japan must remain in forte until Japan shows morg Come of willingness to switch her purchases from the dollar area to Sterling countries.
would onl
enable Japan to This reduce her Sterling balance to normal working level and at the same time make it possible for Sterling countries to adopt rigid attitude towards imports from Japan.
Less
There is no lack of under- standing by Dritish official cir- cles of Japan's internal economic problems but it is felt that Japan's external trading policy as it has developed since the end of the war is not in her own best interests.
What is needed, it is felt, is a complete readjustment of the Japanere outlook in the light of post-war economic reflity."
a totalled an astro-- extent
year. This nemical increase.
Another contributing factor to the critical situation in the home industry was the increased exports of bonita from Peru and other South American coun- tries.
result of the present
The
CHIEF FACTOR Japan's large and to
-fortuitous-dollar in- come from American military
in corection purchases
with the Korean war is seen here as the chief factor in Jepun's pro- dilection for trade
with United States since the end of the Occupation. This is sald
in London
tho
10
situation, he stated, was that account for the complaint often the 12 principal tuna, companies heard from Japanese officials in the United States lost near-that Sterling is over-valued. ly US$500,000 in the scal year But the fact that there is of 1951-France-Presse.、
premium on non-dollar goods is evidance of the world dollar shortage (from which Japan has been sheltered since the war) and not of over-valuation of
The Rubber
Markets
Situpapore, Nov, 18,
these temporary fidantly believed in London that trade between the Sterling Area
W however, it is con-
Prices of rubber futures closed and Japan will be balanced today as follows:-
Number a rubber, per lb..
February
Deceraber
$31-641
January
837-04
Number Brubber. December 8011-2 Number 3 rubber, December 7612 Number rubber, December 731-32
63%-04 72-74 105-110
next year..
HONGKONG SHARE
MARKET
(From Qur Correspondent)
Vital Empire Meeting
"TUPAÑAS" "TEGRIÜRICH “VAN. URUT?"
"TLIWANGI"
"DOBJEVAIN"
"TABMAN" "TIMENTENO" "TJIWANGI"
"TJIUODAS”
"RUVA"
BAILINGA
*TASMAN" "TUPANAN”
nec.
Dec.
Dec. ガ
“TEGELUKRCam ';
"STRAAT.SOENDA" Dec, 10 “TJRŁOWAIF"
Urt.
"TJTJALENGKA"
MTJEKABIDEK"
Dec. Dec.
20 21
Dec, 28
Dec. 20 Dec. 31 Jan.
Jan. }
Jan. •
Jan. 10
16 10.
Jati.. 14 Jan. 19 Jan. 23
Febr E
Feb. 3 Feb,
FOD. 11 Fab. 16
Mar.
+
"VAN BEUTSZ" "THLUWAR"
TIBANTJET" "TASMAN" "TJPONDOK"
"TJIWANGI“
"STRAAT
MAKASSAR' "TJTJALENGKA"
“TJIMENTENG" “TJLUWAJ”
"RÓIBSEVAIN".
London Estimate Of] "zuPANAS".
Financial Talks
the
London, Nov. 18. The London Evening News today described forthcoming Commonwealth Prime Ministers' economic as potentially conference the most important Com monwealth gathering since the end of World War II.
The Prime Ministers will meet here on November 27 for about ten days to discuss the Sterling Area's problems.
The newspaper In Its editorial said that every country in the Commonwealth has its part to play. All are vital and all are in different phases of economic evolution.
This makes the working out of a policy or policies a good deal more difficuli.
The Evening News made these observations on the various Commonwealth nations taking part:
Britain-Her industries sal economie world supremacy have gone and she is in a stiff process of adjustment.
Canada-She is turning over from being a primary producer to being a big industrial power and Is experiencing an unprecedented boom in many folds of develop- ment.
Australia and New Zealandhum They are beginning to step out the primary production cra South Africa--She sees pros- transperity overshadowed by politi-
cul uncertainty.
Businasa done on the Stock Exchange this morning amount cd to $462,009.10. Noon prices and the morning's actions:-
SHARES BUYERS SELLERS SALES
BANKS
...1418
HK Bank East Asia... INSURANCES
Canton
150
235
Unton ..... 77715 HK Fire SHIPPING
20 € 700
140
1.40
asia Nov DOCKS, ETC.
K. Whart
DO 15
India, Pakistan and Caylon- They are faced by the vast prob. Iems of poverty und
over- population.
"How to weld these diyerse elements to achieve strength instead of frailty?"
"This is the,, baste question which the conference has to tackle," the Evening News sold.
N. P. Wharf 0.45 600-Reuter.
Dock ....... 20.00 21.20 321 Provideni 11.00 13
730 € 4.00 1270 4 50
(N) 5.00 Wheelock 4834 LAND, ETC,
tik talel
Bt Land (0)
(N)
2.37
Shol Land 1.50 1.40 Humphreys 13.30 13.00 Tica By
UTILITIES.
Tram
****** 2014 Star Ferry
70000 3.2246 1200 2.35
100 20.00
110 C. Light (0) 8.7 81, 3030 # 9.70 C. Light (N) 940 ©ŽD Electro
* 20,10 200 & 23.10
10
200 23.10 31 22.00 200 23.10 300 23.10 600 7 23
German Trade
Mission To
Indonesia
Djakarta, Nov. 18.
Japan' Vapen
Alxçasar
Bemarang.
Kurabala
slugapuro, Diskarte, Semarang
Burnhala & Macausar' Ningapore. Penang
Beaver Del *
Djakarts. Gemarang.. Nurahata Manila, Singapore. Manellius,
Marassar
R. Africa & 8. America Singapore & 8. Afrien -
Singapore. Djakarta, Gravuralık,
Kurabais & Maconsar
Jagtan
.jakin.. Sensarone, ayrabalu
Macr
Japah
Japan Japan
⚫ Blog poro, Djakarta,
Surenaja & "Marasta
Semarang.
5)Jakarta Hemarang. Surabala
Stacara
afani singapore.
Maärilinx, 8. Atrien & N. Amerles
Singapore, C. & R. Attīra
Singapore. Bjakarta.
Würzhala de "Stackskar
JADER
Remarang,
singapore, Penang 2 Belawan Dell
Jakarta Weimarane, -- Nurabalaj de
Atergaar
Singapore. Dijakneta.
"Barabala, de "Macassar
Карал
Singapore, 2 Djakarta, Maurius,
B. Africa & N. America
Manila, Singapore & 8. Afrira Singapore, DJakarta. Kematang..
Búrabala & Maraisar
MARIIA, Singapore. Bjakarin,
Sfauritius,
8. Amerles
ARRIVALS
From
Africa
E. 28. Africa, Mauritius, Singapara
Djakarta
Japan
"VAN HEUTAZ"
"TJIWANOF
"TASMAN"
in Port
Nov. 21 Nov, ZR
Ter, C
Japan
Micasar, Aurabala, Retnaraht.
Qjakarta. & Streapare
KING'S BUILDING, Ground Floor
TEL. 28015/18.
CHINESE AGENTBi 82 Connaught RD, C. TELS. 31156, 25133.
MAERSK LINE
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·NEXT SAILINGS
*M.S. "LAURA MAERSK"
M.S. "LEISE MAERSK" M.S.
"GRETE MAERSK"
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GN
· Nov, 20
Dec, Dec.
2
16
ARRIVALS FROM ́U.S.A.
"JEPPESEN MAERSK"
M.S.
M.S. "OLGA MAERSK”
M.S. "HULDA MAERSK”
Nov. 28 Dec. 18
Jan./
4
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AGENTS:
JEBSEN & CO
Pedder Bullding.
Tel. Nos, 86000-9,
ŋates and rotation subject to change without noties. "
At liberty to proceed via siber posts to load/dlicharge cargo,
PENINSULAR
ORIENTAL
STEAM NAVIGATION, COMPANY
R.M.S. CORFU"
A West Germa... Trade Mission is expected to arrive in Indonesia carly in December this year to negotiate a new 'trade pact to replace the agreement which ex- pired on November 1 1 last year,
This 500 18.50
25 SAILS: Was revealed morning by Dr Ramaun, high the Economic ranking official of the
Affairs Ministry,
recently returned from a visit to West invitation of
Telephone INDUSTRIALS
Cement Rupe STORES, ETC.
Dairy
20.40 Watson
25.10 L. Crawford 30,70
COTTONS
17 £7.70
10.10
2003 191 1000 2520 1000 * 20.70 1000 31
1.20 2.30
1003 8.75
And that in turn depends in New York Sugar
the level of future Ame:lean military spending in Japan and therefore on the outcome of the Korean truce talks.
But the lovel of trade and the He said: "I believe that a principally to the 1949 devalua-
of the severe Sterling Luture greater part of the problem has tons. Monetary policy in most
will Area import restrictions and 1 see no reason European countries is better been mot
depend on the extent to which for assuming that the remainder directed toward avoiding in-
Ewo Japanese importers are prepared MISCELLANEOUS and returning cannot be met by the right flatlon
or are permitted to twiten Yanglate Spot rubber, unbaled ..... balanced payments structure." measures."
Blanket crepe He believed that it was in the
more of their purchases to the No. 1 palo crepe ga
Sterling Area. United Prose. Ho pointed out that the world | best
United interest of the dollar deficit had decreased Kingdom to work for rostera-
NEW YORK MARKET
New York, Nov. 18. from about $13,000,000,000, totion of Sterling-convertibility. about $2,500,000,000 in the last With
Pricts of rubber futures closed inconvertible Sterling,
100 points five
and that Import British traders and
75 points lower to Anandlers restrictions are considerably less could not fully perf
perform
rm, their higher with ales totaling 64 of limited Reporta Bevere now than In 1947.
merchants contracts, customary role as and bankers to the world.
shipment offerings at higher It should not be
He suggested that the greatest prices Influenced both the spot that the goods and services gap contribution that the
and futures markets. United would be completely closed, States could make, toward closed today as follows:-
December or less Par balanced world economy would part of it more.
its imports and manently was covered by capital outflow from the United be to increase
- United ted foreign investments.
years
expected
the
States plus privato donations Press. Moreover, a substantial propor
tion of the remaining deficit was
attributable to the Increased
expenditure in Lenco
EuroJAPANESE BONDS
and to the disruption of East West trado,
the
"The Improvement in European payments position 18 'phonemeson; not a temporary it reflecta roul
a
improvement
in the whole economic environ- ment of Western Europe.
"Industrial production Western Europa is between 40
in
London, Nov. 18. Japanese bonds
"A" (45. of 1839) "B" (49. of 1010) "C" (63. of· 1907). "D" (55. of 1834) " (525. of 1030) Consols
7831 198.
100%
1694
00%
United Preas.
لالماني
March May
Kastember December
poi
·OFFICIAL. STATEMENT
London, Nov. 18. The Board of Trade said to- day that talks with Japan arg being planned for rovision of the existing payments agree- ment which expires at the end
Futures
Now York, Nov. 18. World sugar futures closed today unchanged to 2 lower with sales totalling 19 con- tracts.
Contract No.
Ú closed changed to 2 higher with sales totalling 273 contracts,
Prices closed as follows:
Prices
20.21 bid 28.09-29.00 20.10 34.00 bld wm blú
of this year but there were Contract No. 4 (world) 27.00
www nominal plans for high level trade falks, Janusty Unlled Press.
An official said: "We know of Starch no high level trade talks with lay
|
New York Stock Japan. Reports that such are september
Exchange
March
being made might relate to pay October
the January menta talks which are in. offing The existing payments Spot
greement with Jupon expires at Contract No. 6
January New York, Nov. 18.
the end of this year." Prices or the Stock Exchange
The Board of Trade, ho add- May responded with a burat ofed, had noted Japanese reports September strength stemming from the that Japan Intended to
cok November accumulation of favourable
more trade with the Sterling Spat market sentiment.
Dealings totalled 2,250,000 Area and that proposals had
from Britain' to
and 30 per cent that could Taiwan Investments ref 1,105 Issues traded, been made for Japan's importa
1947. believe it
4.09
300 naminal
3.09 bid
3.71 blu 9.73 bid
5.64 nominal
B.74 Bid
United Press,“
Germany, at the
who
NOTICE TO PASSENGERS
the West German Government, BAGGAGE:
Dr Ramun has prepared a report on his recent visit for the Indonesian Government.
He said that in West Germany be had met various tradera, industrialists and bankers and had paid.special attention to the iron industry where he studied the new method of preparing. iron org-Reuter.
LONDON TIN
MARKET
London, Nov. 18.)
SPECIAL NOTE:"
The tin market was barely- steady this morning. Turnover EMBARKATION: was 60 tons including 20 tons for cash. Prices closed, at the end of the official morning session a follows:
Spot tin, buyers
Spot tin, sellers 007. Business done at :........ “b7d-DLE Three-months 11n, buyers' -94755 Three-months tin, mefiera, 942, Business done vas (94-947}{2-947- Settlement
19—United”Press.
Seeds And Oils
**New York, Nov. 18, *); be incribed Exchange Rates 800 advanced 171 declined and from £100,000,000 to £200,
Prices in the seeds and alls be increased further and with-
Talpel, Nov. 18.110 were unchanged.
Business was done in the local market closed, unchanged wh annually. out the addition of new capital
Dow Jones average at the end 000,000 The Ministry of Economic
marker the the dollowing exceptions He pointed out, however, that whomein) exchange mero Intensiva Affairs is reported to be of the session stood as followay equipment by
the Japanese proposal referred morning at the following. Tales:
1.8. dollar (per #13" GOKARN 30 industrials
27.04 w-bow orgmising a special committpo application.at; know - technique.
to deal with the question of 20 rails
105.148te "two-way trade, with the sterling note pe 10 utilities
2 41.67 Inference that Japan's heronsert Indonesian lidare per 300 The strunturp of prices in encouraging everon Chinese
40 bonds
imports from Britain would do iam ticals per 100)
Biturbo (fenits) Europe is more competitive now investments in Talwan-France-
United. Press, pend of $0.2 relaxation of || TIC pipfires (per 100) than it was fivo years ago; duq}Presse."-
Cassia all, per : AD.B. New York, $5.70 0.00; Flax Seed, per bushel, FORA
Minneapol
· Press
$4.10. -- United
FRIDAY the 21st November at 12.00 Noon for the UNITED KINGDOM Avia Straita, Colombo, Bombay, Aden
und Port Said..
ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Ca's Godown at Nò; 2 GATE,, CANTON ROAD: ENTRANCE by NOON on THURSDAY, the 20th November, 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. BAGGAGE' COOLIES WILL BE REFUSED ADMITTANCE TO THE WHARF..
Will take place FRIDAY, the 21st,
9,80 NOVEMBER, 1952 between p.m. and 11.00 4m.
BUSINESS REGULATION ORDINANCE 1952
Coples of the prescribed Forms |(a) 1(b) and 1 (c);
Now On Sale at S. CM. Post, Ltd. HONGKONG AND KOWLOON. TEN CENTS EACH