MARITIMES CAMPAIGN AGAINST R.F.C. ROYAL INTEROCEAN LINES
MUS
Arriving framing
Jan.
Feb. 23
Mar.
14
www
"LA MARSEILLAISE" ..Feb, 24 "VIETNAM"
+"BREST"
•Feb;
+"FRY HILL"
--Mar.
*"LA MARSEILLAISE".
. Mar,
Mar. Mar.
B
*"VIETNAM"
Mar. 15
• For passenger and freight.
•
Outward For
Japan
Tokohama & Kohe
Homeward Fór
Feb. 10. N. Afries & Europe
N. Africa Europe Bartulijos via Manila Marseilles via ·Manija
For freight to Saigon, Marseilles, Algiers, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
Accepting cargo:
-via Marseilles to all Mediterranean & West Africa Porta.
—yia Djibouti to Madagascar.
Bubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 63, Hongkong
Queen's Building (gr. floor)
EVERETT
E
Tel 26651 (8 lines).
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam. Malaya, Rangoon, Calcutta and Chittagong.
"BRADEVERETT"
Arrives Sails
Jan. 31 from Manila, Feb. 1
4
"REBEVERETT"
Arrives Suits
for Singapore, Rangoon & Calcutta.
Penang,
Feb. 2 from Singapore, Feb. 3 for Kobe Sc
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, Slain, Malaya, Colombo, Bombay,
Karachi and Persian Gulf Ports.
"STAR ALCYONE"
Arrives Salts
Jan. 24 from Singapore, Jpn. 24 for Kobe & Yokoliams.
M.S. "STAR BETELGEUSE”
Arrives Soils
Jan. 24 Jan. 25
from Japan. for Singapore, Port Swetten-
Madras, ham,
Colombo, Bombay, Karachi, Kharrum- shahr, Bosrah & Bahrein.
(Accepting cargo for tranghipment Kobe/Pusan and Koba/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A "Queon's Building, Telephone 31206. Chinese Department: Telephono 28293,
Business Slump In U.S. On The Way?
New York, Jan. 20.
US Politicians' Efforts To Dissolve Organisation "A Useless Agency Making Questionable Loans"
Pressing For Freer Trade
New York, Jan, 20. Western European nations are pressing for freer trade, an American foreign trade expert, Dr Michael Helle perin, reported. He has just visited a number of Euro- pean countries.
Dr Heilperin said those countries generally are hard on Internal anti- work on Inflationary
prorsumes that WHI enable thera eventually to do their part In restoring currency con- vertibility and in expanding multilateral trade. — AS- soclated Prem,
Future Course Of Sterling
Changing Opinion In Britain
London, Jan. 20. Opinion is now hardening in Britain that progress towards Sterling con- vertibility, as called for by the Commonwealth Prime Ministers, will be confined during the coming months to the re-opening of
com-
Washington, Jan. 20.
A powerful political group will this year renew its efforts to get the United States Reconstruction Finance Corporation (RFC), one of the world's biggest banking businesses, abolished.
These politicians claim that the RFC, set up by the United States Government in 1932 to combat disastrous economic depression, has out- lived its usefulness.
Headed by the veteran Senator, Mr Harry Byrd (Democrat, Vir- ginia), the political group will present to the session of the United States Congress a new bill to dissolve the RFC.
horrible
Smotor Byrd alleges that the target for many years, and the RFC has "degenerated into a measure of support which example of a non- Senator Byrd commands on his essential, useless government efforts was shown by the fact money. making questionable that a similar bill which ho involving non-asential | attempted to get through Con- expenditure ol tax-payers gress, last year (1052) was de- money, and contributing to In- feated by 10 voles. flation.*
Joans
"A non-political Ilquidation of this agency wil} disclose many evidences of favouritism, collusion, improper influence. und perhaps criminal practices," ho says.
The big government lending agency has been a political
Decline of
British
Exports To
modity markets in London. Far East
Already there are free mar- kets in London for many com- modides which, until recently, were subject to strict Govern- ment control. The latest markets to re-open have been those for lead and zine.
Further
progress. In this direction, liowever,
will be mited by balance
tee of payments considerations. For example, though the re-opening of a
market in
free
copper expected some time this year, there are difficulties hère which dld not apply with such force in the case ni lead and zinc.
The Commonwealth produces about one-quarter of the world's
Debut
π Canada, which copper orc, is a dollar country, in excluded, Commonwealth production pc- counts for a much smoller pro- portion of the whole. The other main producing countries in the free world are the United States and Chile,
London, Jan. 20. Increased competition from Japan was the main factor in last year's decline of British exports to the Far East, accord- to the annual report of the Far East section of the chester Chamber of Commerce.
The RFC has been severer criticised from many quarters, particularly since it hit the head- ines throughout the country by cengational graft
exposures in
Warning To U.S. Business
**JIWANGI"
*TAISIAN" *TIÖISBEVAIN” *STRAAT
BAILINGS
་
Το
dingapore, Bijakarta, Mauritius,
B. Africa & H. America Djakarta femarang, Suraba
Osaka, Kobe, Yokkaichi), Nagoya
auraħala & storasiar
·
Yokohama, Nagoya, tsaka & Kaba
Djakarta' Semarang,
MACRSIAL
Surabala
Manita, Aloganore, E. & H. Afilia de
8. America
Singapore.
Djakarta. Semarang,
"TJITJALENGKA“
**TIPONDOK"
za
Jun.
*THIDANTJET"
Jan.
25
- Yokohama.
rots.
Singapore, Djakarta, Semarang,
Feb,
Japan
Feb.
Feb,
Japan
b.
treb.
19
Feb. 9
Feb. 22
Yeb. 23
Feb. #1
Mar, 2
"STŘKÁT SOENDA" Mar. *THODAN"
MAT.
**TJILUWAN"
War.
15
MERY. 24
Japan
FY
Japan
#
MAKASSAR" "TJIKAMPEK”
**ITMENTİNG" SILKUWAR* KROJANÉVAINTM ATTYBANİJET
"TAIMAN"
*TIWANUI**
TIRADANE" "TASMAN" "STRAAT
DIAKASHAN"
"TIPONDOK"
"TJIWANO!"
*TYPANAS" “TJILUWAII"
"TITWANGI"
1051. But it has played a big "Dangerous Form Of "TarJALENGKA“
Wishful Thinking"
part in the nation's economic history and today conducts a mammoth financial business.
On
New York, Jan. 19. ROLE IN DEFENCE
Henry Ford II said today that great numbery the credit
of side of its balance sheet for 1952, just re- businessmen had been in- and covering a period dulging in a dangerous form under which it has come most of wishful thinking by pre- under attack, the RFC can show dieting that Dwight Eisen- a major role in developing the
leastd
United States defence produc-hower's inauguration auto- don programme, agriculture, and matically will usher in a essential civilian Industry of all great, new era. types.
It has expanded its synthetic rubber and tin smelting opera tions which supply most of the nation's needs, and given ex- tensive aid in tornado and flood relief loans in a bad year of ruch distresses,
Its balance sheet also shows that during the year it has carn- Man-ed more than $12,000,000 (over £1,000,000) for the United Stries Treasury.
imposed
Despite restrictions la rectify the balance of pay-
The RFC have made loans to- ments poultion, the report adds, talling more than 350,000,000 Japanese exports to the Sterling dollars to big and small busi- Area are still fac-in excess of nesses engaged on military con- her imports. The report retracts or planning to switch from cognises that these restrictions civilian production to military. give Lancashire only a bem- porary respite from the force of Japanese competition.
full
MAJOR LOANS
To Increase domestic produc- tion of copper, a vital defence material, the RFC made loans of $57,000,000 (over £19,000,000}, The steel industry received $12,- 000,000 to increase production for military uses.
"Business is on wrote M- Ford, President of the the spot" Ford Motor Company, in an editorial in a special business issue of the Saturday Review.
Many businessmen had pre- claimed that the
introguration of the first Republican President since 1933 would' open un great, new era. This sedimed to that a bright new world wax about to be achieved over night.
"We seem to forget that eros do not begin at the last stroke of midnight on December $1 of any year or at high noon on either," he Inauguration Day continued.
"If there is to be a great, neg era it will be attained only # American business demonstrates the kind of leadership and re sponsibility which is unpre cedented in American History
"Whether we like it or not business is on the spot. In the vyes of people everywhere, the 'Mijor foans have been made new administration will be re- for aircraft construction, ma-garded 119 representative c | chine" tool""manufacture," and "to" budness" "thinking" and "respon- Japanese competition, especial- specialised radio and electric Fibility, in fazt, a close icok zi ly in textile goods, resulted in equipment makers, to increase the new men in key Government
Discussing the possibility of a resumption of trade with China, the report points out that al- though Lancashire merchant consider this desirable, there can be little hope of creating The whole question of ro-friendly relations with the opening the London
new rulons of China as long as copper market is examined in the the Korean conflict continues. Financial Times, which points
out that balance of payments problems
enter more Into
nio the copper trading than was case with other principal non- ferrous metals, The Treasurv therefore give its consent so readily to the re- opening of the copper market as I did to the resumption of free trading in lead and zine.
may
пов
COMPLEX POSITION
Even allowing for a satisfac- tory understanding on trentmeat of existing supply contracts, stocks, and other mettons asso- clated with the end of Govern- ment rare, the Financial
remain aderinistrative and other dimantles
In the middle of a flood of optimism about the Times while sat there still outlook for U.S. business, jobs and incomes, the Council of Economic Advisers has sent a trouble- some bottle floating.
And in the bottle are two notes. One reads: Is a slump on the way? And the other: If so, what to do about it?
F
|
a marked decline of British ex-output. Elg loans for conversion posts would seem to indicate ports to Malaya, During the
to defence purposes have been
that the barricades have been first nine months of 1952, made to many businesses,
slormed" Japanese exports of cofion goods
to
LED BY NOSE
by
Malaya Increased by 3 An organisation making million quare yards to 50 laundry and dry-cleaning equip- Mr Ford said that as business million square yards, willement is using RFC funds to turn moved into this new and Lancashire's exports during the over the manufacture of sirerat unfamiliar role" in Government same period declined from 41 parts. A kitchen equipment it should not forget that million square yards to only frm is producing aluminium recent strides in productivity 19 million square yards.
sheets for fighter aircraft, all and bigher living standards oil extraction machine company have been mande more Competition from Japan in will make machine gun the Malayan markets had even rocket parts, and a
and business ability to respond to furniture circumstances beyond its control moro drastle consequences for frm will make metlical therapy than by its own Lancashire in the case of rayon tables and stretchers, thanks to intent."
-purpose and pleee-goods.
RFC loans
He added, "Opportunity In On the civilian side the RFC the form of dark and desperate in the past year has made loans forces has, in effect, fed us by the BOSC up the road ok or totalling more then $35,000,000
progress and inter. which Lancashire supplied only (about £8,340,000) for agricul-national
national responsibility." 4 million square yards. Of the tural development (form He said that this was not
de-tilisers, grain yards machine
time to turn thoughts to elevators, canning processes),
traditional construction (buildings, high- Instead, "business has a chance business interesis. Molayan imports of textiles ways, railroads, airports), ser-
to provide the kind of leader from Japan for 1953 have been vices (transport, communica- ship thot acts rather than Iniited to 80 million Malayanlons), and non-military manu- reacts and which selzes the dollars, but the report points facturing.
Initiative." out that this reduction is Ukely
Mr Ford added that this was to be nullified by the big fall in
the greatest opportunity and the price of Japanese textiles.
responsibility business ever had. -United Press.
Malnya's total imports of these Hoods during the first three-quarters of last year were
square yards,
rezt 93 million square were imported from Japan."
The supply pœillion of copper Is complex, and not nearly 10% million sound as that of lead and zine, where considerable stucits were held by Ave Ministry at the moment of decontrol," Labour troubles in Chin, though Britain does not obtain much copper fram that scarce. could resul in American demands on the London market if there an mxxy Intensification of present dellery etikes.
The Soultion in Rhodesia ir
Businessmen are asking the ment, should plan to meet any same things...
klump that may develop,
Businessmen, however, prc And both businessmen and the more inclined to go along with masterminds are divided on the the Council majority
in the enswers to both questions. The belief that a slump is coming. A two queries reveal one of the recent poll' of top executives of deteste, the cuticle continues. fundamental splits in economic the New York Journal of Com-A:bitration on the Airtoon copper thinking in this country.
meroe shows three-fourths of
Dminers wogca disputes has them seeing a business dip- In both the ranks of business about a third of these thinking hearing and then comederation opened a Kitve. The process of (probably three to one) and it will
year, and by the Tribunal of Eh report and the Council (two
come this to one) a two-thirds of them thinking it its pubention may well take a majority thinks a lump is sure, will be next year,
month or more. Unit Aerican sooner or later.
reaction to the findings is losown.
A vociferous minority insists; "It isn't necessarily so."
1
Mr Clark disagrees. He thinks by of turpplies from this them need be no real slump be-prinsip Steading Ares cource Cousc the rearmament plans, carnot be taken as automatic. But if a slump is coming when even after they pass. their UK. demand for copper fell detence spending aides off, what pending peak, should be further first ad measures should be enough to support a fully taken? What preventatives? What ployed economy.
curca?
em-
Į
bo
But if business does slow A majority of the Council down, Mr Clark says th00 (two) thinks Government should measures already adopted and act, It should prepare now on the law books should total anti-recession economie enough to prop the economy and strategy" which in the main start it back up again, as they seems to mean Government pump did in 1940. priming, with a lesser assist from
Many businessmen agree with industry.
this view. They cito tho Some businessmen (probably a cushions of unemployment in minority) go along with thisjsurance, the ability to speed up view, as expressed by Council the arms programme again if Chairman Leon H. Kayverling heeded,
December, against a monthly level normally of geme 30.000 tons, imdustry took only 18,000 tand, oompared with 20,000 tons in Novemba,
Best Year Ever
Will Increase Wool Yield
Sydney, Jan 20. A new sheep-branding fluid is expected to add millions of pounds to Australia's annual wool cheque. The fluid, known 83 LIE will not staln permanently, and will increase
STRONG OUTCRT
During World War II, when the RFC authorised expenditure of more than $35,000 million, government programmes gave it virtual control over the deve lopment of synthetic rubber and Industries in the tin processing United States. The
United States is the world's largest consumer of rubber and in and the move was designed to reduce her dependence on for- eign sources which were largely inaccessible at the time.
The RFC
of
Maize Yields
In India
Lucknow, Jan. 20.
Proper exploitation of hybrid maire imported from the United | States was the best method for Increasing the present low acro yield of maize in this country, according to G. 8, Murphy, who submitted, a paper to the Intian Science Congress meet ing here.
factories in 105% produced almost 200,000 tons of synthetic rubber; represent Ing more than 65 per cent the nation's rubber needs. Tim has smelting operations produced 22,000 tons of metal.
A strong outery against the RFC followed exposures In 1991
*TJYPONDOK",
STEMAT
MAKANNAR"
BIKE.
ל
Mar, 21
Xpr.
ADT. Apr. 10
Un Fort
Bursbala antaranaze Singapore. Djakarta. -Mauritāte,
B. Afeien à 8. Amerion Djakarta Remarang, Kurabala
Kamasant
Singapore, Penang & Belawan Deli Bingapore.
Djakarta, Nemarang.
· Fürabala &” Maraskar Japan
Dikaria. Remarang. Anrabala
BLACKSELI
Singapore, Djakarta, Semarang,
Barabala & Macassar
Singapore Djakarta. Mauridus,
B. Africa & 8. Aineries - Djakaria, demarang, Surabata
Macassar
*
Singapore, Djakarta, Semarang,
"Buradaka # "Macanjar Mandia, Hingapore, E. & S. Africa Hingapore. Jakarta, Meratang,
Búrabala & ́ Mneasiar
ALLIVALS
From
Djakarta, Remkrans. Burabata
Machar
Зарал Japan
10 Port
Jan. 21
Feb. 2
S. America, 8,
Africa, Maurkitur,
Singapore & Manila
TEL. 28016/18.
KING'S BUILDING, Ground Floor
CHINESE AGENTS: 32 CONNAUGHT RD. C. TELS. 31190, 25133'
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
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NEXT SAILINGS
MS. HULDA MAERSK”
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• Calling Vancouver.
ARRIVALS FROM U.S.A.
NICOLINE MAERSK”
MS. MS.
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AGENTS:
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Mar. 4
Feb,
G Feb. 18
Feb. 28
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Bates whè veflation subject to change without notice.
At Uberty to preced via other porte to Mad/discharge cargo,
Shifting Pattern
Of U.S. Trade With The Pacific
Washington, Jan. 19. The year 1952 confirmed the post-war trend toward a geographical shift in the United States trans-Pacific commerce from Western 'Asia to the southern and south- eastern part of that great continent,
The new situation awakened keener consciousness among all commercial clements in the United States con- cerning the trade potential of India and mutual convenience of attempts to expand economic relations.
VOTO
For a century and a huff, the $230,508,000. Imports from the average American las booked to Philippines in the correspon the "China Trade" is a great uning period of 1952 realised potential of trans- $206,240,000. Pacific commerce.
United States exports to Today, trado, other directly or British Maluya during the same indirectly, with China tas period in 1052 were only
become
a thin Krickle while $30,759,000, despite the fact that United States commerce w imports, due to large purchase Japan is Bolstered above
of in and rubber, amounted to $331,555,000.
normal buyers and sellers volume by Government-aided military
US importa from Indonesia in shipments and the effects of the the 10 months of 1052 Korean war,
wero
$240,700,000, US exports to The once farge commerce with Indonesia normally are littlo above are half of the Importa from there-United Press.
Marichuris has vanished.
Commerce Department statis
SPIRALLING PRICES.
communer
|
Ties Boe 1932 are not yet com- pete, but in the January-October pardod, the US exports do India aled $354,370,000 compared attractiveness of wools,
with $310,550,000 in the one according to a spokesman for
period in 1951 x $402,582,000 the Council for Scientific and
for the entire year in 1951. Industrial Research (CSIRO),
United States fempio:ls from
Karachi, Jan. 20, Word Scientists estimate that two
India In the 10 months
The Pakistan. Government i per, int of Australia's wool
Mr Murphy claims that the
$230,022,000 compared with studying measures to be adopted Now York, Jan, 20.
$239,9$1,000 clip is spolled by unsourable
in the BRITIO to check Boaring of corruption among officials, of quickest way to attain spéreased The US. oll Industry did ́ito bost business in history in 1952, have a tar base that adheres to
brands. Most branding fluids loans to luxury hotels, gambling yields seems to be to use some period in 1952 and 6290,578,000 prices as a result of its recent according to
ban on unlicensed imports. houses and bars, and even one of the double crosses already for the entire year. the American wool and is costly to remove.
The US
Japan exports to
An Inquiry corrică out by of $25,000-lo a man who claim-] evolved in other countries. Petroleum Instituto, Seles The LBE branding Huld has
4xceeded those to India during Government Investigators show. ed ho, had Invested in a rattle volume une reported three por Q Janeline base. It .Wha
Reporting on; experiments the #make faren.
January-October, period of ed prices of consumer goods tho *. various cent higher than in the 1951 developed by the CEO after
conducted with U.S. hybrids, i. 1852, amounting to $517,485,000, spiralled 13 to 70 per cent since and member Robert Turner. stingitants to business which record year.
In Washington there is con- Mr Murthy sald hybrids from! But seven years research - 'and ~ 13
the obviously abnormal the Open General Licence for Council Vice-Choirman, Government agencies can apply The Institute said there was already being Tho
widely used. alde ble speculation whether Texas, Indiana, Iowa and Ohio foundation of the present US Imports was cancelled in D.
who once was through the manipulation of an overall supply of 7,823,000 Average wool clip-in post-war the incoming Republica ad had proved superior:
Japan trade was indicated by August, barrels per day last year, against years has been 3,000,000 bales, ministration" will consider It was proposed to increase the fact that US imports from The OGL was cancelled due Indiana, thinks no further pump Thy aid that Government a demand of 7,000,000 barrels, each weighing 300 pounds abolishing the NFC, established imports of various In-breds that Japan in the orme, 10 mmihs to the sharp drop-in " exports priming plans are ricoded, - |could always give business n This includes imports of an According to s‹ the " scientists" in one of the funtik nets of the go into double crosses with a were only $168,707,080,
Dajana dd during the first half of 1952 and, And so do most businessmen, lift by lowering taxes and thus average of 940,000 borrela n tay | estimate, the new fuld, would | igst United States - Republican view to, ullmately -producing Exports from the US to the the romulant adverso brianos Ar to Judge to what they say, They increasing the purchasing power and exports of about 420,000 add 70,000 bales to the average ! government, under President double cromes in India--United · Philippines in the Jammry-prymenta in the country's think, business, and not. Goveans of customers,--Associated Press, !. barrelst--Associated Press,-
annual clip-United Press. -ÏLoover 20 years ago.Router,- Press
October period last your wero foreign-trado United Press.
Vice-President of Standard Oll of money and credit.