MESSAGERIES
MARITIMES
M
Atrizing
"LA MARSEILLAISE” Dec. 4 "FEY-HILL”
Leaving
Bed, B Јад, 24
1"PEI HO"
E3
Deo, D
*"LA MARSEILLAISE", Dec. 15
Det. 24
*MONKAT".
Jab,
Jan. 4
**REST"
*Web, 9
Feb. 10
For passenger and freight.
M
Ostward Yor
Yokohama & Fode Japan
Homeward Bor
N. Africa & Europe Matsallies via Maglia N. Atries ́& Europe
N, Africa & Europe
For freight to Saigon, Marsellies, Algiers, Tangier, Casablanca, livre, Dunkirk, Antwerp & Rotterdam.
Accepting cargo:
-via Marsellies to all Mediterranean & West Africa Porta.
-via Djibouti to Madagascar.
Subject To Change Wilbot Notice,
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Hongkong.
Quoen's Building (gr. floor)
EVERETT
EVERETT
Tol. 26651 (3 lines).
LINES
ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoun, Calculta and
Chittagong.
"REBEVERETT"
Arrives
Sails
-----
Dcc. il from Manila. · Dec. 12
for Singapore, Rangoon,
Ac
Fenang, Calcuta.
"LENEVERETT"
Arriva Salis
Yokohama.
Dec. 17 from Singapore, Dec. 10 for Koba
(Acceping cargo for transhipment Kobe/Puan and Kobe/Okinawa)
EVERETT STAR-LINE
3
Fast regular freight-refrigerator-passenger service to Korca, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Poris.
M.S. “STAR ARCTURUS”
Arrives Salls,"
Dec. 11 from Singapore, Dec. 12
M. S. "THAI"
Arrives Soils
for Yawath, Hirohata, Kobe, Osaka, Nagoya & Yokohama.
Dec. 20, from Japan. - Dec. 21
for Singapore, Port Swetten-
Madras, hum,
Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein.
(Accepting cargo for transhipment Kobe/Pusan aud Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephono 31206. Chinese Department: Telephone 28293.
American Steel. Companies To Add To Capacity
New York, Dec. 2,
American stoel companies are adding more than 7 million net tons of ingot capacity this year to lift total capacity by the year-end to close to 116 million, the Iron Age, metalworking trade weekly reports.
The publication said the industry's newest expansion programme involves an investment of more than 4% billion dollars on the basis of certificates of necessity approved by the Defence Production Administration.
1952 capacity
East.
Fairless U.S. Steel
tons,
four
at
new 230-ton open
THE CHINA MAIL, WEDNESDAY, DECEMBER 3, 1952.'-
Jute Crop In
Pakistan
Į.
Karachi, Doo, 2.
About half of the cur rent year's output of iaW Jute has been disposed of, either actually exported or contracted for, export ofl. cials said today.
Final estimates of the year's Jute, crop is about 7,000,000 bales cut of which about 3,000,000 bales have been disposed of.
of India tops the lirt foreign purchasers with 1,200,000 bales. --Associated Press
NewTM Jute
Factory Operating
In Manila
Manila, Dec. 2.
A major addition to Philippine Industry, a 300 loom, 5,040- spindle jute factory, designed eventually ไป produce keraf baga, is now In operation in Manila, Colonel Andres Soriano, president of the new $3,750,000 Industrial Textiles Manufactur- Ing Co. dlaclosed.
sub.
Capable of producing a stantial portion of the needs of the Philippines, the Company. when it increases to a two-shirt operation in early 1953, will have the productive capacity 10.800,000 Eur bags or 22,000, 000 rice sacits per year, Col Seriens said,
Col Soriano charceterised the new company not only ES AN
|
FINANCE
Far East Sugar I
Output Still
Below Normal
Increase In Demand Expected
PLAN ATTACKED
Proposal For The Backward Nations
ROYAL INTEROCEAN LINES
SAILINGR
"Hingapore, Tenang & Relawan Dall Vijakarta, .... Homarang, Surabala de
MACARA
| Manila, Kingapore, Mauritius,
8. Africa & R. America Djakarta. Bemarang, Surabala
Mianit
Singapore, B. Africa & K. Africa
Japan via Alanija
HTABMAN"
JIKA PEK"
"TIGELNIRU”.
"TJIPANAS"
"STRAAT 8OINDA” PTJITJALENGKA" "THLUWVAKI
*DUTA"
London, Dec. 2. The Idea of an Inter national Finance Corpora
work | Uon -- to
"branch" of the Interna- "TJIDODAS" tional Bank for the purpose
ng
JIWANGITM
New York, Dec. 2. A leading New York sugar broker reported today that the Philippines and Formosa are of participating in private | “RUYS" making rapid progress in increasing their sugar production while Japan is becoming a bigger market for sugar.
An analysis of the Far East sugar situation, prepared for the United Press by B. W. Dyer and Co. showed that there is still a sugar shortage in the Far East in contrast to the Cuban surplus.
The reason for this shortage is that Indonesia is producing barely enough to meet her own requirements,
The firm's economists said that, in some cases the prices paid, to Far East suger producers will be somewhat lower than in recent years, reflecting a lower competi- tive price for the available Cuban world sugar,
permitting greater foreign trade and ability to buy mom sugar. "These, matters of trade con- trols, currency restrictions and so forth have been the chief restraining action in both the In both the Far Eastern sugar consumption and world A
sugar consumption;
As controls are removed, sound currencies instituted and foreign exchange controls and import restrictions removed, the demand for sugar in the Far East should expand," the report concludes United Press.
business enterprises in *VAN BEUTBZ" under-developed countries- TASMAN"
Dic.
በዙ D
Dec.
10
Dec. 10
DNE.
[160.
16
Bingapore, DJakarta,
Burabala & Macassar
nic.
"TIMENTENG" Dr.
Janan
TASMAN "DVISIEVAIN"
Dec. 20
JAMAR
20
Jan
2
Jatt. *
JAN. 8
Jan
Jan.
10
Jatt. 16
JAN,
"TJIPONDOK" TJWANGI"
Fabr
*
#BTRAAT
МАКАЯНАП® TARMAN”
Feb.
Feb.
4
Feb.
B
Feb.
“TJIMENTENG"
Feb. 13
*THDANTJET“
#TJIWANGr'
"BOISSEVAIN"
Feb, 16
Feb. 23
Mar.
Mar.
D
has been given a lukewarm "HLUWAR* reception by the National | "TJIBANTIET" City Bank of New York,
Under the original proposal, the International Finance Cor-
poration would be supported by
These
funds specinly contributed the International Bank, the member governments OK | "TJITJALGNOKA"
funds would be used for loans "TIKAMPEK“ wilhout government guarantees and also for equity investmeniz.
The National City Bank, how "LUWAII" ever, believes that rather thon burden taxpayers
this with additional expense, tax reliefs and the creation of a "welcome atmosphere" to foreign capital would do more to foster private Investment in backward coun- trics.
However, this Was not uniform altuation, because sugar prices were sot for certain arcos on the basis of factors other than the world price.
For example, the Philippines have sold and will sell almost all their sugar States market in the United which has been near the post- war high in the last two years.
NEW YORK MARKET” While Number 0 futures prices
New York, Dec, 2. Indicate that there may be some
The world sugar futures mar- 1933. U.S. sugar price decilne in the administration of the Sugarotas dominated by short Act, which determines the U.S. Covering in January delivery, Refiners and commission houses price level, will un- doubtedly be along
were reported on both sides of preneurs. lines that
a quiet market for domestic will sustain U.S. prices over
contruct world sugar prices.
sugar
Thus 1053 average prices reserved by Philippine growers should be rather close to the 1852 levels.
Important dollar-saving industry but eventually scheduled ta develop inte a dollar producing industry
The chief production of sacks nt present will be those manu- A slight decline in ocean factured from jute but, of more freight rates from the Phillp vital long-range significance, ex-pines to the United States should perimentel runs are now in also fond to help Philippino process blending jule with kenal grown in the Philippines. Even- tually the company will produce kenaf material solely.
Two fibre technicians, Ignacio Warner, Cuba agronomist. and Dr R. V. Allison, have been brought
to the Philippines by the company to aid local kennt
In growers.
addition
to technical assistance, the company is providing kenaf planters with seed at landed cost, and full in formation and advice on growing the best possible crop..
The
FTALIAN EXPERTS
19,162 square
metre
factory and warehouse buildings, domestle Philippines útilising construction materials, completed in slightly more than eight months:
were
wili
Contract No. 4 closed & higher to 2 lower with sales totalling 102 contracts.
Contract No. 0 closed un- changed to 2 higher with sales totalling 143 contracts.
"TASMAŃ"
"THIKAMPEK”
STEGELDERd”
"TJIPAÑAS".
A
Semarang,
**
Japan
Singapore, Djakarta,
Semarang.
Hurabala "Macassar Djakarta Bemarang, Surabata
Bachatar Bangla Ginrapors Djakarta,
Mauritius, &. Africa & 8. America Singapore, Penang. Belaw Dell
B. 8. Africa
Singapore, Penang & Belawan Dell Singapore, Djakarta,
Burubáta & hîncariaz
Japan
Semarang,
Djakarta Semarang, Rurabila
Bingapore, Djakarta.
durabala di Atacazzar
Japan Japan'
Bemarang
Singapore, Sjakarta, Ataurtiius,
8. Afilca & 8. America Djakarta, Semarang, Surabala &
Macassar
Manila, Singapore, C. & 3. Africa Singapore, Jakarta, Hemarang,
Surebala di, Macuatar
Djakarta. Beniarang, Surabala
MACALIAT
Singapore, Djakarta, Semarang,
Burabata & Maraskar Manila. Singapore. Djakarta,
Mauritiu B.
5. America
...
ARRIVALS
Гараа
Der.
Japan
Dec.
Japan
Dec.
'Japan
Dec. 1
Гаран
Discussing the proposal for as International Finance Corpora- "STRAAT BOENDA” Dec. tion in its monthly review uf world economic affairs, the National City Bank of New York says: "A Corporation of this sort would be a far riskier proposition than the Bank, and it raises the question whether the tax-payers of the world are not already without sufficiently budenea being tapped to provide risk capital to would-be entre-
MANY HANDICAPS
"There are moreover a legion of handicaps, freely recognised in socialist countries, when gov directly or indirectly in the ernment money operates, either equity capital area. Judicious tax rellef, on the contrary, could 4.10 nominal M afford broad stimulus to enterprise, not to mention the
of creation
* welcome at- mosphere to foreign capital in
3.30 bld 3.01
3.60 DIA. adibid
3.83 nominal relatively undeveloped areas, 3.87 nominal "Seizures
of foreign-owned properties, of which we have had - recent examples in Iran And and Bolivia, and and
4.00
'Prices closed as follows:-
Contract No. 4 (world) January producers.
March says: "In the May The report
July coming season, the Philippines September
probably fill their U.S.October quota (874,000 short ions) and January their local consumption and they Spot
Contract No. G might
have even
ቦ small
January quantity, perhaps 25,000 to 76,000 starch short tons, for export to marketa 3148
United States. Fu other than the
September Philippines production will prob- November ably be about 20 per cent above | Spot the 1935-39 average.
TAIWAN SITUATION "Talwan has not made the samo progress in restoring suger production to pre-war levels on
the bas
Philippines. Some estimates place the Talwan pro- duction this season 35 high as 800,000 tons but their es- timates recently have been high.
Taivan
somewhat rer, arranged to bring ten doubtedly Italian technicians to the Philip lower prices for their sugar in of the decline in because of 1053 pines
for a year
to supervise world prices but they will prob- installation of machinery and to
ably trade with
B. Campiglio, teciuical advi-
train the
mechanics and workers Gly-be-be by increasing
In the bag.
well over
plant.
Thus
by
5.03 nomina!
545
5.70
0.00
6.73
arbitrary
nominators on
withdrawals of
-United Press.
HONGKONG SHARE MARKET
From Our Correspondent)' Business done on the Stock Exchange this morning amount- and the mom 'ng's transactions: ed to $159,782.50, Noon prices
SHARES BUYERS BELLERS SALES BANKS
H.K. Bank
.. 1423 Fost Ask ..
201 INSURANCES
Canton
240 Unbor Underwriters,
The company wlli eventually making transactions on a barter basis or any soft currency basis, employ, when it reaches two-
returns to Formosa shift
operation carly in 1953, the actual
still compare 1,100 direct
labour employees producers may
favourably
that with an estimated annual payron fairly
with the high prices of resulting from $1,000,000.
Elpidio
Quiring the last two years.
"In Indonesia, dedicated
Gugar produc- the new
tion will probably be between plant, taking the occasion to stress that the influx of foreign 450,000 and 500,000 short tons as SHIPPING
1,448,000 capital into the Philippines has compared with the
due to the security and average In 1935-30.
the Government 1s 1oreign investment.
industry.
been
new
he
our
"It is very risky for while men to go into the Interior of In- donesia because banditry and terrorism
reign. Under such is fresh evidence of conditions, it is diff decizred,
it is difficult to obtain bur progress to secure for our skilled technicians to run pinta- country the basic requirement
tions and
milla. of the contentment of
sugar "It is also
an unfavourable people."-United Press.
climate
for capital needed, to rebuild mills and plantation. In addition, the system of land rente, Oxed by the Government, of prosts makes the question from
cane sugar planting
to year uncertain from year which tends to limit both canc investment of planting and capital in sugar mills.
Unbalanced
Trade Still
A Problem
The
10 @ 243
10 7 776
NK. Fire
140
Waterbout
129
Ada Nav.
166 1.35
DOCKS, ETC.
K. Wharf,
N. Pt. Whart 6.40 6.00 Dock
Provident
21.10 G003 21:
500
20.00
12.70 32.00
0.20
+
100
40 50 100 0011⁄2
6.00 0.35
sident (2) Dock.. Wheelock...、 LAND, ETC. B.K. Hote H.K.Land (0) 5015 S'hat Land.. Humphreys
UTILATIES
1
Tram 21.40
Star Ferry... 110
300 7 67 6000 130
1260 @ 2315
|
and profits, do more to the supply of foreign equity capital than an Inter-
repair.
national Finance Corporation
possibly
could
"There no escape from the principle stated by President Black at the annual meeting of the International Bank a year ago: 'Development is primarily the responsibility
deve
of the
loping country itself. There is
From
Africa
&
TEL. 28015/18.
KING'S BUILDING, Ground Floor CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS. 31100, 25133.
MAERSK
LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK. BOSTON, BALTBIORE & PHILADELPHIA vis
– SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "LEISE MAERSK”.... In Port Buoy A-4
M.S.
"GRETE MAERSK”
Dec. 16
*M.S.
"JEPPESEN MAERSK"
Jan. 2
• CALLING
VANCOUVER
ARRIVALS FROM U.S.A.
MS.
"OLGA MAERSK"
Dec. 16
MS.
"HULDA MAERSK”
Jan.
3
Jan. 16
M.S. "PETER MAERSK"
not, and cannot be, any subst-For Freight and Further Particulars please apply to:-
tute for internal effort. Foreign capital cannot be broadly effec- tive in the absence of locat
uscless
*
capital. Foreign advice will be unless there are roots for it to nurture.
At best, outside aid can provide only a margin over and above what a people are doing margin for themselves. It can be the between failure and success, but only when there is substantial local effort. And there can be such an effort only when a nation has a will to develop when there is a drive within the country itself to improve the living standards of its people, and a government
which re- flects that drive."
Grain Prices
In Chicago
Chicago, Dec. 2. Chicago grains were lower in
C. Light (0) 10.10 10.20 1000 © 19.10 tale trading under December 2000. 10.10liquidation. Other leading com- C. Light (N) 0.05 6.70 7600 20,70 modities Electric
2314 23.09 000 € 239
исто Eectric
Telephone Zelephone
DECLINE LIKELY "Hardwork, ingenuity and nDUSTRIALS, saving are pointless where the fruits of these 'can be snatched away by arbitrary Government action.
years.
£1.20
17.60
2000
3.00 114 a mi
330 3.00
2000 a 20.DO
moved Irregularly lower in quiet dealings as traders watched the action in securities. Wheat closed to 14 lower and soybeans to 14% lower, Prices closed as follows:-
Wheat-price per bushel
Spot December
2.35414-21
2.4136-2742 2.4412 24122-14
AGENTS:
JEBSEN & CO.
Pedder Building.“
Tel. Nos, 86066-9.
Dates and totailan subject to change without notice. at liberty to' proceed via other ports to load/discharge caATED.
M.V. "LA MARSEILLAISE”
will sail for
Yokohama and Kobe
on
FRIDAY, 5th DECEMBER 1952
AT 10 P.M.
Passengers are requested to board the vessel with their cabin · baggago, on the 5th December, between 5 and 9 p.nt. Baggage Room and Hold Baggage will be registered at Kowloon Godown No. 50 (No. 2 Gate, Canton Road Entrance) on 4th December 'between 2 and 5 p.m. and on the 5th December from
9 a.m. to noon only. No baggage will be registered: after this time.
COMPAGNIE DES MESSAGERIES MARITIMES
Camtas 100 STORES, ETC,.
Dairy Wataon COTTONS
Ewo
20.70
#D.70 34.00
20
March
· 200 @ 23
2.30 330 @ 2.20
May,
Yangieco
**** 5.80
0
July Beptember
Corn Spot December
·March.... May July September
Rye Tragerber March Osta
1.6076
1.0741.0716
1.71%-%
1.75% 1.75 daked
ADII
Queen's. Building
2.0334-20-7
December
In
S'pore
Singapore," Dec, 2. Prices
futures of rubber closed today, as follows:- Number 1 rubber, per lb.
January Tehnuary March
March
New York flour-per 200 15. Back. $12.70 nominal,, United Press.
These certificates cover ex-1750,000 tons of new open hearth pansion in sted finishing capacity. The trade weekly said
expansion forges and Youngstown capacity, foundries, lake and river transportation as Indiana Harbour was offect by
Washington, Dec. 2. well as steel melting expansion. scheduled elimination of 330,000
Commerce Department The Iron Age said the new tons of Bessemer capacity.
suld today that the decreasing "Indonesia is just about meet- capacity is a potent factor in
Early 1953 additions Include: surplus of United States exports Ing its local consumption MISCELLANEOUS industry arguments for decontrol
works, over imports is evidence of the requirements. Unless there is a of steel.
Geographically, It said, more 1,200,000 tens; Pittsburgh Steel, improved economic
position
the the the
and Government, than three militons tons of new 25 tons open hearth enlarge- i foreign countries but that drastic change in the policies of i
is in the Mid-ments; Detroit Steel, Portsmouth
by no means completely solved. Improved, It is unlikely that West and over 215 million in the plant, New Boston, Ohio, 750,000 br en of unbalanced trade is personal safety of white people Rubber Futures
In the first three years follow- Indonesia will be producing Of the 1952 total, the trade hearths; Tennessee Coal and Ironing World War II, the United nugar for expert in any signi weekly reported, more than six division, Fairfield Ala., 200,000 States exported twice as much as ficant volume in the next few
tons, open hearth enlargements. it millon tons is now open hearth National Steel also will bring in
Imported. Exports of goods and services Thus about a million short capacity
the balance and
леш capacity electric furnace expansion.
next year in the 1946-48 period totalled tons decline in Indonesian sugar Associated Press.
$61,500,000,000,000,000,000. U.6. average levels is in prospect while Imports production from the 1095-30 COMIC foreign aid of $15,000,000,000 in 1.Prices in Indonesian CUFTENCY Number 2 rubber,
January the be determined by AMERICAN SILK these three years helped to offset | will
Government polleles in Indonesia Nun rubber,
January IMPORTS
world and not by the Foreign nations also received
world sugar Number rubber.
January another $5,300,000,000 from.such market price trends, Foot rubber, unbaled New York, Dec, 2. sources as private American "In recent years,
Blankes crepe donkie Imports of raw silk rose to investment abroad and from the quantities of Cuban sugar, have
and the Inter-been shipped to Japan. As pro-TER and Clevoland 800,000 tons; US. 5,387 bales in October, com- World Bank Steel, at Fairless works. 600,000 pared with 3,184 bales in Ocio- national Monetary Fund, the duction in
800,000 tons; ber last year, the American report said.
increases, it will reduce the de tone; Bethlehem, Republic,
During the next three years, pendence upon Cuba ne à sou tons of open Silk Comell reported. 40.000
electric hearth and
Stocks increased to
** WES, done; In the ́ ́ loent lowe 5,000 however, foreign countries were of furnace
of supply emotion is unonicial
Exchange markot thisSpot tin, capacity: Northwestern Steel and balos at the end of last month, able to pay for nearly chicusristos rapidly and expand or an owing rates
Us dollar (passenge Wire, Starling/1504,000 tons compared with 4,768 pales at quarters, of their US, purchases
In dollars they earned by selling in consumption will to fadial glering hots par dil ke
· of electric fumice covacity: Lone the end of Septembv thars abode they produced themnative"; //ed by the presumed, gradini Indonesian guildere (per 1007: Star Bioelo Star, Texas, As of October BBQ,000 tons of open hearth were 2,003 bales in trannit according to the report United freeing of all restrictive controla ameals (per 100)
Stinami pore"'( Biraits) our we pingtres (per 100) – Infant Steel at Indiang Harboury from Napanupciated Press. | Prost 17,
NEW CAPACITIES Major new capacities being brought in this year were listed
by the Iron Age se:
Youngstown Sheet and Tube. Indiana Harbour works 1,200,000
tons of open hearth Cachurch
Jones and Laughlin at
the imbalance.
the For Fart aros.
a source
on the Japanosa economy,
thus
No 1 pale prepe
6235-14.
TIME FOLL 1100 114 United Prem
LONDON TIN
MARKET
Londen, Dec. 2.4
The tin market was steady fifa mbradriz. Turnover was 60 tons, pluding 20. tons for eah;
official morning sesalón, as 101
inso
Exchange Rates Pricca closed at the end of the
Boot tin, selfers KU13 Banhoss: doneraL.
buyers. 984 1441.Three-monthatin, 17.30 Three-months": tífi, zollern 33.50- Business done at
18.33 . Settlement...
Villed pol
Tel: 26851
BUSINESS REGULATION
ORDINANCE 1952
Copies
of the prescribed Forms: (a) 1(b) and
Now On Sale at S: C, M. Post, Ltd.
HONGKONG AND KOWLOON
________TEN_CENTS EACH