Page
MESSAGERIES
MARITIMES
M
"LA MARSEILLAISE” "FRY-MILL"
**TEI 10"
· •"LA MARSEILLAISE"
+"MONKAY"
Artising
Leaving
.Dec. 4. Dr. 5
Jan, 20 Jan. 21
•IC. 器 Dr. P
Des is Dec 10 FOL
Jan. 0 5
For passenger and freighL.
M
Outward Yar
Yokohama & Kobe Japan
+
Homoward For
N. Africa & Europs Staručities Via Mantia N. Atites & Enrope
↑ For freight to Saigon, Marseilles, Algiers, Tangier, Casablanca,
Havre, Dunkirk, Antwerp & Rotterdam.
Accepting cargo:
Via Marcelles to all Mediterranean & West Africa Ports. -via. Djiboull to Madagascar,
Subject To Change Without Notice,
CIE DES MEssageries MARITIMES
P.O. Box 63, Hongkong
Queen'e Building (gr. floor)
EVERETT
Tel. 26051 (3 lines).
LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Sjam, Malaya, Rangoon, Calcutta and Chittagong.
"REBEVERETT”
Arrives
Scus
Dec. 10 from Manila.
Dec. 11 for Singapore, Penang, Rangoon & Calcutta,
"LENEVERETT"
Arrives Suits
Dee, 16 from Singapore.
Dec. 17. fur Kobe & Yokohama.
(Accepting cargo, for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
M. S. "THAI"
In Port Soils
Loading
Nov. 20 for Kobe, Osaka, Nagoya,' Kamalshl & Yokohama.
M.S. "STAR ARCTURUS"
Arrives Sails
Dec. 11 from Singapore, Dec. 12 for Yawata, Hirohata, Kobe, Osaka, Nagoya & Yokohama,
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen'■ Building, Telephono 31206. Chinese Department: Telephone 28293.
Trading Revival The Aim
The
Ottawa, Nov. 25. Prime Minister, Louis St Laurent, tak Parliament on the eve of his departure today for the London Economic Con- ference thal he was confident of Britain's future and Canada would help to seek ways to re- that prevent move roadblocks the resumption of world trade.
It would be wrong to give
that the the impression
ference, which he and Finance
con- the Minister, Douglas could by
Abbólt, will attend,
Itself make Sterling convertible ar remove all the roadblocks to trade.
"We share the view that it may not be too optimistic to hope that the Western world will so rearrange trading that the great nations of the East will feel it is advantageous to remain with us to maintain the standards of freedom," Mr St Laurent told the House Jast night.
He and Mr Abbott would try to work with other Common- wealth delegates at the; conter.
to find ways to remove trading restrictions Britain- and Commonwealth found the necessary to impose.
enco
it
The Opposition party leaders, Mr George Drew, Progressive Conservative, and Mr M. J. Cold- Common-. well, Co-operative wealth Federation (Socialist), said Canada should de her ulimest to revive trade with Britain and the Commonwealth, She was too
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning amounted to $842,344.80, Noon prices and the morning's transactions SHARES BUYERS SELLERS SALES BANKS
H.K. Rank.. 169 East Asia.** Canton
Union ....
243
Underwriters 5%
SHIPPING
Waterboot
Asin Nav... DOCKS, ETC.
K. What ... $115 Dock
Provident
S'hai Dock Wheelpek
20.00 12.70 13.90 1.50
0.00
5 3430
933 20.00
300 63
4000 $4
200 64%
1000 54 1000 + 5415
500 FF 54
200 or $3.
THE CHINA MAIL, WEDNESDAY, NOVEMBER 26, 1952.
·
CONVERTIBILITY ISSUE Two Preliminaries Before Step Is Taken
Free Commodity Markets Of Waste Elimination
Controls May
Be Lifted
Washingtoni Nov. 25. President Trumat is con- widering the question of Ming wage and price con- trols in the near future, according to a statement made today by Senator Maybank, Chairman of the -Senate Banking Committee.
Controls were Imposed after the start of the Korean conflet. France- Presst.
Rubber Control Ordinance
Comes Into Force In January
Singapore, Nov. 25.
A new law will come into force in Singapore and the Federation of Malaya January 1, 1953, which will help to avert complaints from purchasers of Malayan rubber.
&
London, Nov. 17. In the Debate on the Address last week Mt. Atlled and Mr. Gaitskell, as leaders of the Opposition, were professionally shocked by all the Chancellor's doings.
They appeared to believe that the worst thing Mr. Butler has done has been to toy with the idea of making the pound convertible.
Their opinions on convertibility seem to have undergone a remarkable change.
When
of this moment it was a matter
roaming around cadging money from the Amerl- London threatening that Britain cana, Socialist Ministerà paid will get no more American aid more than lip-service to the idea. If the Free lead market remains Then they proclaimed themselves open. mbst anxious to atiain con- vertibility. Indeed, was it not De Dalton
who, ns Chancellor of the Exchequer, made a premature experiment In convertibility five years ago?
And when his. experiment
tearfully told falled he
The
country over the air what a "grievous dicappointment" it was that this great effort in post- reconstruction
war financial
SOMERSAULT
The reason for this is that before the British market was reopened the price of lead war arbitrarily fixed in America by a few genliemen sitting in back
and room,
utterly without relation to world trends.
Reopening the markets puts an end to the stratospheric price- Axing of raw materials.
World Sugar Output
Rome, Nov. 25. Preliminary estimates are that world production of A SARDINE CHRISTMAS which we have made together
sugar (exclusive of Russia) has resulted in this setback." Consider what is happening to amounted to 35,000,000 Successive Socialist Chancellors commodiles that are stat do- metric tons in 1951-52, strice have admitted their obliga-minated by the buying and over-
compared with 33,500,000 ilon under, the terms of the buying of civil servants,
There is the Raw Colton Com-the previous year and an American Loan agreement to make the pound again con- mission which not long ago had average of 25,700,000 in the ver vertible, whenever that might a great deal of money at its dla- | 1934-38 period, according be feasible. But i wasposal.
Socialists Most of tune "the different
this has now been to the United Nations Food spent, and in exchange the Com- and Agricultural Organisa. played last Tuesday.
mission boasts 4 vast and tion annual report. ill-assorted supply of cotton. How,
In 1050-51, Time after time Mr Attlee used and when, they will be able to to deny that the Socialist Party dispose of it all, who can say? wanted to plan for planning's For In the meantime there has sake. I one reads the speeches been
partial restoration of free of the Socialist. leaders in last buying in cotton, weck's.
how debate one sees
Consider also the Ministry of hollow this claim was.
Government Convertibility may or may not wished to proclaim Sardine be feasible at present. But why Christmas, it could easily do du, do the Socialists object to 11? 'for we are told that the Ministry The answer is
is only too evident. owns at least two years' stocks A convertible pound would of sardines and is still adding to encourage a greater freedom of them. trade throughout the world, and The reason for this is that the
of Portuguese and Moroccan pro-world market. Govern- thus diminish the power
Socialist politicians. if ever they hold unlimited power again, to maintain a Schachtlan economy
Complaints about receipt of in- Ierlor grades of rubber have been received from the United States, Soviet Russia and other European continental buyers but the issue was recently brought to a climax by importers In Japan
Dan who ac- companied
complaints with their mild threats that unless the situation could be improved, they would switch their purchases to Indonesio.
and
The Rubber Shipping Packing Control Ordinance has the blessing of both the Sings- pore and Federation ments, and Malava is expected to "set its house in order" as far as bad rubber shipments to overseas
markets are concerned.
These shipments have
Brilain.
the
ducers of sardines insist on the Ministry's purchases; otherwise, they say, they will have ne sterling with which to buy British manufactured goods. If we had free markets and the pound were convertible, all this nonsense of barter by blackmail, would be swept away.
about 11,500,000 tons of sugar entered world trade as compared with 0,800,000 in the pre-war period.
arc
But there are indications that the rate of increase in interna- tonal trade may diminish since Importing countries trying
30 expand their own production.
countries where sugar is entioned, could return to pre- levels, there war consumption would be
demand for another
1,200.000 tons annually on the
Cuba alone will have for ex- port this year more than a million tons more than in 1951, while supplies from non-dollar ste still
There is no doubt that a great harm to Melaya's reputa- convertible currency is a check tion,
and the now punitive on wildly spending politicians, powers under the Ordinance, The only point of agreement be- and Beven and tween the Attlee prompty expected to act effectively.
splinters of the Labour Party is The Board is a body corporate that the casiest way to presCIVE with #1 scal and continuing their domestle peace is to spend
Mr
Gaitskel! spend. powers, in the legal phraseology and "capable of guing and being admitted as much when, speaking of the Socialist years in office, he said: "We were able to make
because we de this progress
exporting countries done
surd."
In
case
of
power's
used
of
by
substantially lower than before the war. Aside from a "artl- ficial price boom early in 1981,
re-
FAO
wore sadd, prices markably stable during the year. Cuban world market prices fluctuated between 4.5 and 4.2 certs a pound.
END OVERBUYING - Of course, it is true that the great capitalists of the past are and that
NO GREAT EFFECT no longer with us skilled technicians in the com.
"While the appearance of the RIGHT OF APPEAL
modily markets are a diminish- Ing race.
large 1952 Cuban crop tended to New York and Tokyo would be economie planning to maintain al 25 ma conditions in which the| suppiles but also of sugar from
Firms of standing in London, liberately
Some people therefore argue weaken prices not only of dollar level of demand by appointed as their agents to act high lev
markets could flourish soft currency areas (except from solamodlly for them and report on bad manetury polley."
do not exist, and of
that the the British Commonwealth, where This is a high-falutin' way shipments.
despite confessing that,
Mr necessary finance would not be the price was fixed in negotia- extreme Attlee's reiterated promises to forthcoming.
tions at the end of 1951y it has member of the A seriousness a
debis,
But these objections were not yet greatly affected market Board might fly from Malaya to scale down war maintain a raised against the reopening of prices," FAO said.
they were make direct investigations.
A shipper-or-packer-whose
the lead market and have bech "The Cuban Government has proved wildly untrue. The basis established a single seller for certificate has been withdrawn by the Board for bad shipments will
of a free market is that it bitys special quota' sugar, for the what it really requires and does world market and a 'sugar have the right of appeal to a
not olutter the country up with stabilising reserve of 1,800,000 tribunal to be appointed by the
fantastically huge stocks. Great tons to be marketed over a period of the
Anancial High Commissioner
BACK TO THE GALLOP
resources are not of not more than five years. Gerald Federation,
"Until The Debate on Tuesday last essential; all that is needed could overnor of Singapore, was very rugged, but one thing with comparative ease to sup- have met with a high
these measures Mr John F. Nicoll.
This tribunal will consist of clearly emerged. The Socialist piled by the City, and Mincing success and have
Peda Party's policy is to return to Lane could then do a very much steep decline in prices but it is chairman (who must be an
galloping inflation. Hitherto they more competent jobs of work too early to judge the long-term officer of high judicial standing) have tried to conceal this desire, than the Ministry of Food, cifecta especially; us seems prob- and two other members.
but now they have let the cat Not only the Ministry of Food able, production in importing and
and the
In fact used
to
high level of demand" in India and Middle Eastern countries Many of our troubles today are due to consequent exports from Britain without payment.
11 is.
of
countries in-
The Board would endorse that out of the bag and an ugly brute should be abollshëd, but also the other hy during the
mark or the estate name or the curer's licence number:
2. The type of grade-Unital Press.
the
on every bale of rubber shipped
Ministry of Materials and, for creases abroad there would be stencilled:
the Economie 1932/63 crop year." It is worth while remembering good measure, 1. The number of the packer's
This
Indications now are that there registration certificate, or the Fe-that to Socialist candidate can be Section of the Treasury. Eistered house symbol, trade adopted without the approval of section has had the misfortune will be a further productions in
to be perpetually mistaken in its crease in 1962-33 but weather Solulist Patly Executive, No other party excercises this prognostications about stocks, conditions can affect final out- rigid
prices and, indeed, about every-put by as much as 10 per cont. ut censorship. power It is not surprising, therefore, thing else. Its operations inter- United Preas that the politicians on the fere with wise financial manage- Socialist, Executive. who
the Treasury, and it professment in thefisdives ant! illationist, costs a lot of pubile money. should have concurred in provid-
DRASTIC CHANGES ing one of the safest Sotibilst seats in Britain to the former
When General Elsenhower goes spandthrift boks of the ground to the White House, drastic nuils scheme, Sir Leslie Plummer: changes may be expected.
Capital Goods
From U.K.
London, Nov. 25. Statesmen of under-developed LAND, ETC.
countries will Commonwealth 2000 @ 0.00 3.K. Hotel HK, Land
press here this week for more (014)
57
capital goods to speed their In .14 1.30 2000 @ 15 Stial Land
13.00 1C0013dustrialisation plans. Really
* 240 2.45 7000 or 2425 Tram....... 20.000 20.00 Stor Ferry 117 110
C) Light (N) BY
...
effected
For
The Rubber
Markets
Prices
closed today as follows:
futures
Singapore, Nov. 25.
of rubber
Number 1 rubber,
per lb. December January
February Number rubber,
December
Number J ́rubber,
December
0315-7
B124
70-00 100-113
OPEN THE MARKETS! one thing, there will certainly It we are to have convertibilly, be a purge of the vast collection two preliminaries are essential. of ageing New Dealers who serve First, all Waste Kust be cut out as heads of bureaux, counsellors, there is an personal assistants and publiere at home, and enormous amount of waste in lations officers.
There will also be extensive Britain today.
to thrusting
changes in the fringe of the Partly, this is due to far too many functions upon American Civil Service, though
nothing
the quite like Government perhaps and local central
purge
by Governor Number & rubber, servants, and partly to the effects
[Stevenson's grandfather, who was
December The statesmen will be attend- of excessive taxes on Industry,
afterwards Democratic Vice- got rubber, untaled The depredations of the thland ing the Commonwealth Prime
Blanket crepe ........................ President.
becsine No. 2 pale crope United Press. through all sorts of First
When he Ministers economic conference Revenue
Assistant Post-master- Light (0) 0.30 10.105000 beginning on
on Thursday.
em. taxes notoriously make
dentral in Grover Cleveland's NEW YORK MARKET 2000 0.45
They
state ployers are expected to 1500 0.43
ployers careless about Eusta.
Administration, and.
"Mr Adlai
New York, Nov. 25. convertible that if Britain 2000 0.45
A sound could, increder
Prices of rubber futures closed Stevenson Sr sacked no less than 10000
regained cannot be its supply of capital goods at
today 25 to 70 points higher Electric... 23.10 23.00 27002340
currency carly delivery dates and com- unites industry did Individunts 40.000 postinastera. 2000 EF2
We may
also expect drastic with eales totalling 115 con- drain on have rostored to them the power Telephone.. 17.40 17.00
petlitve prices the
cuts in American aid to forelga December
tracts. Telephone
the Sterling Area's cold and to Rave 3.69
But the most important prelude countries. The American budget INDUSTRs. 3.00
dollar reserves could be.. Cement .......... 18.30 16.50
to convertibility is the restora: this year is running at u figure u Rope
20ÃO STORES, ETC.
dicates say Some 19.30 20 1000 @ 12.00 Dairy
countries go to the dollar area always lived by its wits, of feet years before the outbreak of war. Selember
it was
at only $10,000m. spol Watson
23.10 19
running Britain for capital commodity markets A budget and outside Lane
ASP.
which
been Fecause all their re fccds only Crawford-
mulugudent d - AMERICAN THREAT COTTONS
nuirements, 10 hot met by MISCELLANDOUS
British production, Putting bateriing price of dozen years is surely more than
through the any country can bear. give speelfie examples be every commodity Yangisto
Dear JAPANESE BONDS mchinery and
other Foods operation of the British init kot
The biggest appropriation of
› budget which Japan and West Germany would greatly strengthen the all in the American
for
London, Nov. 25, Japanese: böfida foreigners,
-Year Lief" ok? $40,000m. There is hydusiy
"(4 of 1010) "C" (ar. of 1907).1: room for plenty of cuts hore, The of free spending - In
"D" (59, of 1934) Washington are in our opinion
(848 of 1030)- over, and a good thing too—| Consola“ The Financial Times,
536
150 2.40 8.90 630 11000 en a
dependent on the United States Exchange Rates
market, they added.
វ
M: Drew said currencies should be freely interchangeable, and Mr Coldwell said. Canada. murt | Sięcking note: (per (61) 996) help non-dollar countries to markot exports « In North America-Routen-
Business was done in the local this tinofficial exchange mackel morning at the folowing rulenta US dollar (per $1)
6.015
MAT
preciably stemmed 20 taletion in this country, which has [Ilttle over $80,000m.; In the last July
which for
December
31.10
20.00
23.00
20.45 nominal
20.10
20.10 3023 nomina “United · PreKS.
can supply morb quickly and at pound in the climation of military, expenditurers over 1 HAM (45, of 1099) -
cheaper prices
It would do, bring down the Development projects. In the Colonies, which will be repte price of many commodities, as rented by Mr Oliver Lytteltott, has alreads Happened with led days 15.63
the Colonial secretary, will did since it was freed. be considered at the conferenco. ---Reuter.
Indonesian' gulders (per 100) 27.00 Siam iteals (per 100)
20.00 Singapore (Btratti) FIG misstros (per 160)
18.35
Fome Representatives of American mining interests are at
ROYAL INTEROCEAN
"THWANDA" “IJIKÄMPER"
HARMANT "TEGELÚERO"
**K**
"BOISEVAIN'S "TAŠMAN** "TJIWANGI"
"THIBODAS"
***
"VAN HEOT:Z" "TITLUWATE" -
Der
SAILINGS
bee. ↑
Dec. Dec.
LINES
(Ningapore), Bjakarta, Rymark.
"Buzabala da "Macarist
bjakarta. Remaratig, Mürabala,&
Macanar
Hingapore. - Pasang Belawan Beit- Manila.
Mauritius,
8. Altra S. Amets a Bjakarta, Beinachssy, Murabala
Macassar
Singapore, H, Abrira & E Africs Singapore., DJARMILA, Semarang,
Surabata & MacAMA)
*
"TJPANAS”
Dee, JA.
*RTHAAT KOENDA" Bes,
THLUWAR*
10
Ber. 10
“TUTJALENGKA”
Der. 16
Japan
Dr. 1x
Japan
"TIMENTEN("
Dr.
20
Japan,
Bes.
28
Гарад
Dee.
Japan
Jail.
2
Bingapore,
Djakarta,
Mentarang
Burabila a htarakiNE
Jon,
jakarta
Remarang,
Hurabata
+
МАСАЛАГ
Jan,
Afanita.
Džulinėču,
Jan.
Jan.
Jan. 155
Зарал
Jan. Jaw.
23
"TJIWANGI"
Felt 2
MAKASSAR" -TJINALENGKA“
Feb. 3 Teb. 1
Feb. Feb.
Feb. 1
#
Feb. 19
Feb. 23
31ar. 2
MAN h
ATINANTJET"
"TASMAN" "THPONDOK"
"STRAAT
"TASMAN" “TJIHANTJET”
“TJIMENTENO" "TJIKUWAIT
"TJIKAMPER"
OTSIWANGU"
"DOISSEVAIN”
*TJIWANG
Singapore,
Mauritius, 8. Africa & §. Anseelea
Alagapore, E. & 8. Afrles
Singapore, Djakarta. Reninrang.
Norabala & cor
Singapore, Penang & Belawan Delf
Jakarta Kenaran. Hurnhala
Minealar
Ringapore. Diskarts. Remarang
"Burahala & Micum
Гаран
Singapore, Djakarta.. Maurtisux,
8. Affles & N. America
Japan
Djakarta, Semarang, Suratzada
Maranest
Manila, Singapore, E. & 8. Allen, Singapore.
Djakarta. Semarang,. Mirabala "Miscansar
Djakórta, Semarang.
Diacanar
Sorabala
Singapore, Djakarta, Semarang.
Murabála de atacantar Manita, Singapore, Bjakarta,
Mauritius Ꭼ .
5. Amerira
ARRIVALR
Marassny, Sarabula. Semarang.
Djakarta;& Singapore
Nov.
ZR
Japan
Der. 筋
Japan
TEGEL,Brno" Jer, 7
Japan
"STRAAT BOENDA" Der.
TARMAN"
KING'S BUILDING, Ground Floor
From
P
Africa
22
TEL. 28015/18.
CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS. 31190, 28133.
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELFÍNA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
.
.
NEXT SAILINGS
M.S.
"LEISE MAERSK"
Dec. 8
M.S.
"GRETE MAERSK"
Dec. 16
M.S.
"JEPPESEN MAERSK"
Jan.
2
Arrivals from U.S.A.
M.S.
"OLGA MAERSK"
Dec.
18
M.S.
"HULDA MAERSK"
Jail.
3
M.S.. "PETER MAERSK"
Jan.
15
or Freight and Further Particulars please apply to:---
AGENTS:
JERSEN &
Pedder Building.
& CO.
Tel. Nos, 30066-9.
Dates and rolatles subject to change without astice,
At liberty to proceed. via other ports to tond/discharge cargo.
Japanese May Relax On Re-Exports
Ban
Tokyo, Nov, 25. The International Trade and Industry Ministry. intends to ease partially the current ban on the re export of Japanese goods to Indonesia via Hongkong, sources close to the Ministry reported."
The Ministry is said to be in favour of relaxing the embargo on some goods. If their total shipment value does not exceed a certain fixed amount,
The reasons for casing the ban are reported to be:
(1) Exports to Indonesia are at present very sluggish;
(2) It is better to receive Pounds
for Sterling
goods shipped to Indonesia than to have an over-balance.
Trade
To
Experts Confer
London, Nov. 25
Mr Fazlur Rahman, Pakistan Minister for Commeren, Economic Affairs and Education, has rou- vened a conference in London of The decision rests with the Pakistan trade commissioners in Ministry of Finance-France- Western Europe. Presse.
The conference is expected
to
DISCUSSIONS END be held while Mr Rahman is here Djakarta, Nov. 23.
for the Commonwealth The leader
of the Japanese Prime Ministers' economie talks economic goodwill mission to on the Sterling Area,
Pakistan trade: commissionera Indonesin, Mr Takahika Hupa-
to discuss their guchi, left for
Tokyo this mornare expected ing after the conclusion of pri- various local problems with Mr. vate trade discussions between Rahman,
the Japanese delegation and the Indonesian Economic Council.
in
The results will be laid down
report to both
Mr Suchjor,
The Pakistan Minister is like- The Pal
to consider with them ques- ly to
ons relating to the export ot vernments. Pakistan juto
the and cotton, country's largest dollars cornèrs, The trade' commissioners who Chairman of the Indonesian Economic Council, folil the will attend the Pakistan talks Press at Indonesian mission will include those stationed at may pay a visit to Japan within Donn, Romo and Paris-Reuter. some months to. Implement the
LONDON TIN
proposals.
He suid salt was one of the Indonesian products to be ex- ported to Japan in large quan- tities, if the proposals were ap proved-Reuter.
MARKET
Lonton, Nov. 25. The tin market, was stondy this morning. Turnover was 05 NY Stock Exchange tons, including 35 tons for cato. Prices closed at the end of tho
New York, Nov. 25,
Dow Jonca averages at the official morning: session" as fol end of the stock market sessión | lows:- INS
Sport, buyoin
pot iin, ellers
| Dualness" dana, at
105.08 Three-months tin, buyers
0812
¡stodil as follows:---.
30, industrials
"FILIS"
173 60-9/10 40 bonds United Preal..
20 rails.. 18. olitics
-United Press.
99.13 settlement
50.87 Three-months tin, sellers Business dont at
Unite