MESSAGERIES
MARITIMES
M
Arriving
Jan.
"FRY-HILL”
MONKAY"
+"BREST""
Jan.
Kabschfung Jan
Leaving
Jan. 24
M
Outward For
Inpat
Homeward For
N. Arrira & Europe
endung
Jan.
Jan. 1
9
1 Feb. 10
N. Africa & Euroje
Jangkong Jan. 9 Jan.
PULA MARSEILLAISË". Feb. 12 Feb. 15
For passenger and freight..
Marseilles via Manila
† For freight to Saigon, Marseilles, Algiers, Tangier, Casablanco,
•
Havre, Dunkirk, Antwerp & Rotterdam.
Accepting cargo:
-vin Marseilles to all Mediterranean & West Africa Ports.
-vlu Djibouti to, Madagascar.
Bubject To Change Without Notice,
CIE DES MESSAGERIES MARITIMES
P.O. Box 53, Ilongkong
Queen's Building (gr. floor)
EVERETT
Tel. 26851 (3 lines).
E
LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"BRADEVERETT"
Arrives Salts
Der. 31 from Singapore. Dec. 31
"LENEVERETT"
Arrives Salls
for Kobe & Yokohama
Jan. 14 from Manila, Jan. 15 for
Penang,
Singapore, Rangoon & Calcutta,
(Accepiing 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. “STAR ARCTURUS“
Arrives Solls
ย Jan.
from Japan.
Jon, 9. for Singapore, Port Swellen- bars, Madras, Colombo, Bombay, Karuch), Kharram- shahr, Bosrah & Bahrein,
M.S. "STAR BETELGEUSE”
Jan. 22 from Japan. Jan. 23
Arrives Sais
for Singapore, Port Swetten- hun. Madras, Colondo Bombay, Karachi, Khurran. shahr, Basrah & Bahrein.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206. Chinese Department: Telephone. 28293.
The Rubber
Markets
Singapore, Dec. 20.
Prices of rubber futures closed
today as follows-
Number & rubber, per 10.
- January
February
March...
Number 2 rubber, januty Nissher B rubber, January Feber 4 wubber, January Spol rubber, unbated Tiket rrepe
No. 1 pale repu
DEL-12K
4744- BI 80Like 023-24
10-12
111-120 United Press. LONDON MARKET
London, Dec. 29. The market was quiet today. Prices closed as follows:-- Number rubber,
in pence per ib.
February
March....
Apet1/June July/September
2012-1
CEYLON
EXPLAINS
DEAL
Colombo, Dec. 29. Ceylon charged today that she had been forced to conclude a rice and rubber barter deal with Communist China,because the United States failed to assist the Island's food shortage problem.
Sir Oliver Goonetilleke, Cey lon's Food Minister, told the Planters' Association that on
visit recent
to the
United States he inforined the Secrc- 2016-ary of State, Mr Dean Acheson, of the grave food crisis facing Ceylan and warned that if im- Uned PresS, mediate aristanco were not NEW YORK MARKET given Ceylon would havɑ to Inok
elsewhere for elee, New York, Dec. 29. Prices of rubber futures
Sir Olivér sald that Mr closed 40 lowor fös higher withi
Acheson's roply Avan sales totalling eight contracts.
by no 31,00-31.40
means satisfactory and that ivas the reason why Ceylon 29.33 nominal turned to China for rice.
Ho described the
March May July September
March
Spol
December
*3.0.3
28.03
24,45
23.47
31.75
+
----United Press.
T THE CHINA MAIL, TUESDAY, DECEMBER 30, 1952.
Record Note Issue
Tokyo, Dec, 20'
The currency issue of the Bank of Japan on Satur- day hit an all-time high amounting to X010.508,- 000,000.
J
This represented à Jumb of more than 22,000,000.- 000 from the preceding
lay.
Bank
authorities
pre- dicted that the. amount would reach Y040.000,060,- 000 on December 30.
Advances also soared -by nearly 14,000,000,000 10 reach Y268.314,000,000 an Saturday.
France-Presse,
HONGKONG SHARE
MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning semounted to $179,755, Neon quotations and the morning's transactions:-
SHARES BUYERS SELLERA SALES
BANKS
JK Bank. 1410
INSURANCES
101420
Unkn. 7920 000 30 705 Underwriters
SHIPPING
Warbont Asia Nav.
DOCKS, ETC. K. Whart
1360
1.40 1.50
петь
45
... 13.10
#00
N. Pt. Wharf Provident
Provident
17134.3
S'hal Dock. 1.35
Wheeluck
Wheelock
FRts... 11 60
LAND, FIX" IIK fotel
.. 760 7.00 3000 m 13; 1000 or 7.89
S'hat Land. 11:30
UTILITIES
Team
23.10 2240 300 12.30
P. Tram 101 34 Star Ferry
117
CL 1 9.33 9.50 3000 m 1,45
C. Light (N) 629 8.30 1000
Electric ..... 23.50 23 20
Telephone ... 19
INDUSTRIALS
Comment
STORES, ETC.
Dalry
Wation
COTTONS
Ewo
G
In 10.40 200 20.40
10.10 640 a 20.00 050 2014
19.80 10.10 1000 « IN
000 @ 24,
3000 2.20
MISCELLANEOUS
Yangtsre ... 5.10 as 1000
U.S. Federal
Reserve Statement
Opponents Of Tariff Treaty Disappointed
By
Premiers' Decision
BY A CORRESPONDENT)
London, Dec. 17.
The Commonwealth Economic Conference has been a keen, dis- appointment to those in Britain who advocate the strengthening of Im- perial préférences and the repudiation of the General Agreement on Tariffs and Trade (GATT).
The Prime Ministers firmly rejected the notion of the Common- The Commonwealth coun: wealth as "a discriminatory economic bloc.". tries, they said, look outward to co-operation with other countries, not inward to a closed association.
It was their common purpose, by their own efforts and together with others, to increase world trade for the mutual benefit of all peoples.
HD
Having adopted this course, thorough examination of all the the Conference could hardly then possible repercussions of her ac- accept the United Kingdom'a cession before full membership proposal that all Commonwealth is granted. countries should Join in secking In fact, the inevitability of release from the "no, new pre- Japan's ultimate. re-entry into ference" rule which, as members world trade 4 0 full-fledged of GATT. they have agreed to member of GATT was probably observe.
the
main reason for the British The
proposal was nevertheless Government's anxiety to
which re-examination of the "most- supported by Australia, Bus strong political as well as favoured nation" clause in economic reasons for wishing to threat" of Japanese competition GATT. For it is still the strengthen Imperial preferences,
the other
HC
İron Ore Find In Canada
had
Into the
ROYAL INTEROCEAN LINES
151-4 STASMANNI
"TJIWANGI"
Jan.
2
"RUT!"
Jan.
"TJUODAS"
Jan.
8
"VAN HEUT82-
Jan.
10
"TASMAN"
**TIILUWAI
Jan.. 13 Jan, 10
Jan,
"TIPONDOK"
“TJUDANTJET "TJIWANGI
TARMANI "EOISSEYAIN" "STHAAT
4
LAMIŞLAR. BABAJA
Kingidornato DJSHAY{A}** Gemiatang,
durabata & Macassar
Atablia,
Sincapota, jakarta, Mauriling, B. Africa À R. America. Djakasi-Bemarang, Surabhia
Singapores y Penang, Belawan, feil,
hu Rèunphy « BRB Atrial per Bingsparo, Penang, & Ustaveni. Dėl Bingapore, UJARAT
Sethafa Gurabala & Nagavar *dingspor, Djakarta, 22
8.Africa B. Amerien ·
23
Jan. 23 Feb. Σ
Feb,
Feb,
Feb. 1
Feb.
Feb. $D
Feb. 19
MAKARBARA "TJIHAMPER"
TJILUWAN"
TIMENTENG
"UGISSEVAIN"
*TJIDANTJET"
"TASMAN” "STRAAT SOENDA" Feb. **TJIWANGI
"TJIBODAS"
"TIJADANE” "TJLUWAR"
**TASMAN" "STRAAT
"་ ན བ སྟ ཨཱ བལ
Feb. 22
Feb.
13
Feb. £5
26
Вежата. Butabal
Bracassar
Japah
Slogapore. *Djakarta, Semarang
Surabala & NAGISAT
JADAN Japan
Japan
Djakarta,
SEMATARE
Kingapore.
Marktage
Surabala
Djakaria, Semarang.
Burabala & Macaklar
Manita. Blaganare. H. & H. Afclea
H. America
Singapors,
Bjakarta, Mauriti
8.Africk & 8. Amezlea. jakarta. Semarang, Burada A
Macassar
A
Singapore, Penang & Belawan Delf Japan
Singapore, Djakarta. Semarang.
Burabala & Maca312P
blac,
Mar.
D
Djakarta.
Kemarang,
Machar
blar.
Japan
Alar.
14
Singapore.
Surabala & Marsiar
Mar. 17
Зард
Singapore Djakarta,
MAKASBAR" Mar. 22
"THWANGI“
"TARMAN" "IJIWANG?
"RUYS". “TJIBODA
Apr.
2
Surabala
یک
Djakaria, Semarang,
Mauentins,
Semarang,
8. Africa & 8. America
Singapore. Djakarta,
Surabala de Sarasar
ARRIVALS
From
Penang. Belawan Dell & Kingapore Macassar,
Burabala, Semarang,
In Port Part
Djakarta & Hingapure
Jan.
Japan
Ja,
Japan
TEL. 28015/18.
CHINESE AGENTS; 82 CONNAUGHT RD, C, TELS, 31100, 25135.
Quebec City, Dic, 29, and the Colonial territories, that Britisht industrialists fear
The American Industrialist, which have close economic ties
Cyrus Eaton announced today with the United Kingdom,
Strong political pressure would that his geologists, aided by 100 But
members
found mulli- of the undoubtedly be brought to bear Eskimos, Commonwealth opposed it on the on any Beltish Government million-ton iron cre deposits grounds that "such an approach which appeared to expose do- Dround Ungava Bay, 750 miles KING'S BUILDING, Ground Floor
to "unfair" | north of here. would not advance the agreed mesile industries objective of restoring
Ten teologists multi-
from Ontario ill-competition from Imported goods lateral world trade."
this is when the tariff and Quebec, The, con-
accompanied by ference therefore rejected the instrument of polley, especially new find during,
the weapon would prove a useful Eskimos, located and staked the a six-month proposal and thus, in the words
ir
means could be found of journey of one
northern "sounded the observer, death-
knell of Empire Free wielding it without risk of hurt-wilderness. The team returned
ing another member of the here on Christmas Eve. Traders,"
said, "Our Kroup has However, the United Kingdom Commonwealth family.
The real significance of the located and staked a large aren was not entirely without success in this matter.
that has immediate deposits of communice, It obtained the Commonwealth
concentrates of promise of co-operation from its however, lies not in its velled medium grade
*** | iron ore”. Commonwealth partners in an hint of future tariff action, but
The Canadian-born Cleveland industrialist approach which is to be made to in its positive rejection of dis-
said, "The new other GATT countries to meet crimination by import quotas, bhali
deposits are so located that particular difficulties arising on exchange restrictions. the United Kingdom turist.
transportation to Europe other paraphernalia of the
would be the logical route for British "planned economy".
them to follow although with TWO-FOLD PURPOSE The
gained by other three rivers capable rough nattens
supplying The object would be to enable multilateral world trade would electric power and energy we the United Kingdom "consistent far outweigh the inarginal losses might be able to do more after ly with the basle provisions of suffered as a result of possible GATT," to continue to permit increases in British tariff rates. the duty-free entry of certain Commonwealth goods,
4
ever
to
on
though it may from time time
duly increase the similar imports
countries.
11
to return
from foreign NEW TEA
This would serve a two-fold purpose. In the first place, it would continue to give Com monwealth producers a favour- able market in this country, while leaving the United King- dom free to raise duties or foreign goods In order to pro- tect British industry and agricul ture.
The effect of this would be to raise the margin of preference .enjoyed in the British market by Commonwealth exporters. But, as this would seem to run con- trary t
Washington, Dec, 29. U.S. money in circulation - creased $270,000,000 during the week ended Dec. 21, the Federal Reserve Board reported.
to Article of GATT which requires that any advantage, Following is the text of the favour or immunity grunted board's statement:
ans country must be uncondi. tionally accorded to all other contracting parties," the consent of other GATT countries would first have to be obtained.
FACTORIES
IN SOVIET
Meow, Dec. 25. Twenty-six new tea factories are being built in the Georgian Republic.
An announcement sald they 40s_of_leaf per year_and_are
and with electric
power
of
research and experimentation. facilities port We might, with
avaliable hydra- produce resources, un the spot concéntrutes which then could be shipped to re- Aneries and final mills.".
treatment
Mr Eaton added, "Christmas Eve brought us final stakes to a new enterprise in Ungava which will beneft many In Quebec, in
Canada and in the United States.
I am 60 but not too old to launch a new enterprise in this promis ing province of Quebec which is on the threshold of, iremendous Iron are developments."---United Press.
are designed to process 78,000 Giant regions of the Kutaisi going up in the tea growing
Oblast,
of Adzharia and Adkhazla.,
Some of them the Kingd, the Tskhakacy and Ordzhon). kidze factories have already been put into operation,
During the period ended Dec. 23 member bank reserves de- creased $148,000,000. The prin- cipal changes reducing reserves The second purpose of the were increases of $270,000,000 in British bid for a relaxation money in
the "no new preference" rule is tea in efrculation and $287,- 000,000 in treasury deposits with rather more subtle, federal reserve banks, and a de- crease of $01,000,000 in gold steek. The principal offsetting changes were
an increase of $400,000,000 in reserve bank credit and a decrease of $27,000,- 000 in foreign deposits with federal reserve banks.
The increase of $400,000,000 in reserve bank credit resulted from increases of $356,000,000 in loans, 000 in U.S. Government securities discounts and advances, $70,000,-
and $25,000,000 in
float.
Hold Ings of U.S. Goverment securl- ties reflected an increase of $81,000,000 in bills and a de- crease of $11,000,000 in certi- fleates. Associated Press.
ONLY WEAPON LEFT
of An official said the Georgian
factories will Lurn |0,000,000 more kilogrammes
tea in 1053 compared 1950.
Tanker Being Built
London, Dec. 29.
An oil tanker of 32,000 tons is now under construction in a British yard.
It will be the first of six large out ships ordered by a British of tanker company early in 1951. with Seven more tankers of 32,000 lons were ordered by the same
The Commonwealth has re-
A great deal of work is being company last June.
Fourteen new tankers are to solved to work towards the done to further mechanise the be launched for the company in abolidon of trade restrictions.
manufacture of tea. In ad- 1953 of which four are of the But this might expose British dition to the building of new 32,000-ion class. The fleet now Industries and agriculture to an factories, the capacities of numbers 153 ships of varying existing enterprises are being undesirable degree of competi
Bizes, no increased. The re-designing of This large tanker can be em- factories hos already ployed on only certain Joules completed. Associated notably between the Middle East and the Caribbean and the
where United Kingdom.
ports con accommodate them. -
U.S. Gift To
Pakistan
of
tions. No government matter how blamiess its motives) 28 ca
could afford, to stand by and been sce industries decline or workers Press, unemployed as a result of foreign In the domestic competition market, It is certainly not the Intention ol GATT
1 should.
Therefore, if the removal of trade restrictions resulted in a positive threat to British Indus- tries or agricultura, the Britten
Chittagong, Dec. 20. Government would then be com- The United States is giving pelled to use the only weapon of $500,000 (£178,000) worth defence left to ff-the tariff machinery to develop Chitta- weapon.
gong's forest resources. Indeed. Mr Butler, the Chan-
Under
scheme 15,000 cellor of the Exchequer, has in- Montreal, Dec; 20. timated that tariffs "will come tons of timber will be extracted world's output of restrictions and all the other de-
from the forests annually. when quota accord nickel this year will approximate res
This will cost $300,000 and under which Ceylon will x-315,000,000 pounds, with Canada vlees now used to protect the take two years to prepare. change 50,000 tons of rubber accounting for 90 percent, Dr balants of payments are to- annually with China for 250,000 John Thompson, Chairman of moved,
A second scheme will of rice over a Ave-year International Nickel Company of I the time should come, how-tablish
Canada Ltd. sold today.
ever, when the British Govern- here. Government could have taken
ment is forced to raise tariffs to solve the grave food prob- lem.-United Press,
tons
New York Sugar period as the best action the
Futures
New York, Dec. 20. World sugar futures closed today 9 higher to 3 lower with sules totalling 13 contracts.
Contract No. 0 closed 2 to 3 lower with sales totalling 20 contracts.
Contract No. 4 (world)
January "March
May
July
Beptember
October
January
Boot
Contract No. 6
March
May July
September
November Spot
4.00 nominal
3.03 bld 3.04 bid
LONDON TIN MARKET
London, Dec. 20. The in market was dull this 3.05 bla morning, Turnover was 20 tons, Including Ave tons for casti, 3.66 nominal Prices closed at the end of the
3,08
3.00 nominalomeint
3.70
6.51 hid
5.59 bid
5.70 Jac
5.00 bid
5.ni morninal
0.53 United Prose.
morning
World Nickel
Production
The Lice
back into fashion"
onc
ቲዩ
France-Presse.
CRUDE OIL PRODUCTION
New York, Dec, 20. Daily average gross crude oil and lease condensate production In the United States increased 40,200 barrels in the week end- ed December 20, totalling 6,010,- 800 and compared with 0,203,000 barrels a year ago, the Ameri can Petroleum Institute report
The Industry operated at 03.5 # research laboratory per cent of potential.
Finished and unfinished petrol stocks totalled 131,017,000 bar- rels compared with 120,902,000 of the previous week, and 128,145,000 a year ago. Unfinish- ed petrol stocks totalled 7,324,- 000 barrels-Associated Press.
to East Pakistan'. ---
In his year-end review of the against foreign imports to pro- The American elit, follows, a visit by two forestry industry, Dr Thompson said that tect domestic industries it would recent the free world's production of be very reluctant to withdraw experts Reuter. nickel believed to bo more the, present right of duty-free than five times.that of the rest entry now accorded to many Im- of the world. The 1952 output ports from the Commonwealth represents a gain of about 20,- and thus destroy
the basis on
world's output of 295,000,000 Ib. been built. But that is what it In 1991-United Press,
000,000 pounds over, the free which Commonwealth, Irade has JAPANESE BONDS
•
LL
Exchange Rates
Iuliers Wa dòng đồ cho loài unomialul - exchange) market:. this morning at the following ratestma US dollar. (per- $1).
.6.930 fiterling molo [per: A13-Jan. 19.62 Indonesian gylläom (per 100) 27,00 Siam icals (par, 100)TM .......... 23.40 Singapore (Strasts)
session
DI
follows:-
Spot in, thyers
048
Sipat tin, sellers,
130
Business done ut
D
Thren-maniba tla, busteen.....
046
Three-mantha tin, sellers..
Business done at
Settlement
040
fed Press.
PIC plastres (per 100)
18.37
11.73
wil have to do unless other GATT countries agree to allow some relaxation of Article 1 of the General Agreement to meet the British case,
London, Dec. 20. The London Stock Exchange opened quietly after the Christ- mas recess.
CAR OUTPUT.
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA,
*M.S.
NEXT SAILINGS
"JEPPESEN MAERSK”
M.S. "OLGA MAERSK” M.S.
"HULDA MAERSK”
• CALLING VANCOUVER
Jun. 2 Jan. 18
Feb. 2
ARRIVALS FROM ́U.S.A.
M.S.
"HULDA MAERSK":
Jan.
Y
M.S.
"TREIN MAERSK"
Feb.
4
"NICOLINE MAERSK"
Feb. 16
M.S.
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel. Nos, 36066-9.
Dates and rotation subject to change without notier."
At Bberly to proceed via other parts to_hand/discharge_cargo,
Liquidation
Decline In
In Chicago U.S. Cotton
Grain Market
Chicago, Dec. 20. Chicago grains declined re- gularly, stemming frem renewed liquidation and selling.
Other leading commodities were irregular.
Wheat closed 1 to 1% lower and soybeans highör to lower.
Prices closed today as follows: Wheat-price per bushel
Spot
March May
July
2 nominal 2.39%
2.301-1
1.607-14 1.0992-1 1.6822
Prices
New York, Dec. 20.
Colton futures turned irregu- for after a steady opening with prices dropping back under increased quidation and year- end tax selling. But overall, activity was on the quiet side with fresh commitments being avolded pending development. In the consumer market and the Korean war news.
#
The market opened 2 to 4 points lower and closed 2 points
polats lower to
higher. Operators from New Oricans were on the selling side, but light support developed from the trade. There was no par- ticular feature to the market. Dealers felt that the rate. of Joan entrics is now at a pace sufficient to lend some stability to free the market for splurge.
September
Com
Spot
March
1.50% 1.42
May
July
September
Ryo
May
July,
1.00% nominal 1.0139 14
Ost
Spot
March
017-7 0144-14
Zarchi
May
July
October December March May
Maya
New York flour-per 200 ib. Back. $12.00.-United Press.
Record Oil Output?
Prices closed today 打吗 follows:-
33.39 monstrat
33.04
34.10
34.15
34.13
34.15 nominal
34.13 nominat -United Press.
NEW ORLEANS MARKET
Spot
March
May
July
Dctober
London, Dec. 20. World oil production is. Hikely December
March
12.0
33.82-33.64 34.11-34.12
34.17 34.10 bid 24.14
34.12 bld United Press.
In The Doldrums New York, Dec. 20, Trading in spot black pepper pretically came to a standstill
to reach the all-time record 640,000,000 tons this year, the May Petroleum Information Bureau Detroit, Dec. 29,
of London said today, Mator, vehicle
Quiput in 1991 was €10,000,000 outpul In the tons. United States this Christmas
the More than 50 per cent of week will total, 109,787 vohl- cles, Ward's automotive report estimated 1932 output will come from the United States, the Official conamation. from
Bald
Bureau said, but there wire blg Tokyo that the Japanese Star)»
The agency... counted 88,973 output increases by most Mid Ing balances fell below. 280 cars and 20,704 trucks in the East oll-producers except Iran. today and prices, on a nominal 000,000, caused a fall of ano de total. Last week, $9,500 cars Biggest pingid risa. this year basis, declined,. Spot material two points in Japanese bonds and 28,300 trucks were bullt for was in Iraq, whore # new pipeiling was ofered between $1,20 and although few people really be a total output at 127,070. In the to the Mediterranean
pound. On shipment helped $1,30 a leved that the recent debt cemparable week In 1951; 24-boost output from 9,000,000 tons position, Malabar December was
is la any way right to admission agreement
042 cara und 11,181 trucks were last year to 10,000,000 tons, quoted at $1.18 and January but that there, should be
bulli-Associated Press, al danger-Franco-Presse.
Associated Press.
$1,10-United Press,
JAPAN'S CASE
The British Government's off elal view of Japan's application to Juin GATT remains at-li has always been that Japan has a clear
In