*
MESSAGERIES
10 MARITIMES
M
Arriving Beaving
"LA MARSEILLAISE” ....#.b. 24
"MEINAM"
"HEEST
"FRY HILL"
"COURBEULLES"
"LA MARSEILLAISE”
DIEINAM"
Feb.
23
Mar. 18 Mar, 19
Feb. 10 Feb.
.Mar. 7 Mar. +
NET. 7 BIAR.
霍
Apr. R Apr.
Apr. 13 Apr. 13
For passenger and freight
M
Outward For
Vakokami & Kobe Japan
Homeward For
N. Arlen & Kurape N. Africa & Europe Atarees via Manila
N. Alrica & Europe
N. Africa & Europe
For freight to Saigon, Morseilles, Algiers, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.
• "Accepting cargo:
via Marseilles to all Mediterranean & West Africa Ports.
-yls Djibouti to Madagascar.
Subject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
THE CHINA MAIL, TUESDAY, FEBRUARY 10, 1953.
Profits Frittered Away
Geneva, Feb. 9. Mr R. B. Vaasvada, Indian workers' delokale to the International Labour Organization's Textile Committee. told today's meeting that Indian em- ployers had "frittered away" wartime profits.
10
"During the "war," declared, "the industry had ween RM unprecedented period of prosperity. The government warned the Industry
fritler not to away its funds and to save for bad days.
"The warning was given seriously, but WILS
Hot melod upon and funda were frittered away. Now, we are told that the la- dustry faces a crliis,"-- Reuter.
F.O. Box 53, Hongkong
Queen's Building (gr. floor)
Tel, 26651 (3 lines).
Steel
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.
"NOREVERETT"
Aurives Solls
Fob. 18 from Singapore. Feb. 19 fur Kobe
"REBEVERETT"
Arrives Salls
Demand Near Balance
Cleveland, Feb. 9. Some sellers of premium-priced steel plates are having to look for customers. Indicating further movement toward supply and demand balance, Steel magazine sald today..
the
Yokohama
Mar, 2 from Manila, Mar. 3 for
Kangoon
Singapore, &
Calcutta,
(Accepting cargo for transhipment) Kobe/Pusan and Kobe/Oklunwa)
Penang,
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"STAR ALCYONE”
Arrives Salls
Feb. 19 from Japan.
Feb. 20 for Singapore, Port Swellen- ham, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein,
"NORDSTJERNAN”
Arrives Salls
Mar. 2 from Japan. Mar.
3 for Singapore, Port Swetten-. ham, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein.
(Accepling cargo for transhipment) Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophano 31206. Chinese Department: Telephone.28293,
British
Govt's Sharp Losses In Cotton Slump
London, Feb. 9.
Sir Ralph Lacey, 52-year-old head of Britain's Raw Cotton Commission, will soon report on how his Government bulk-buying concern scraped through last year's slump in cotton.
In Liverpool they say it will be a startling tale, Local guessing is that he may show losses of £15,000,000 to £20,000,000.
This is no reflection, of course, And
was
In
Liverpool, In
cotton
Pointing out that dealers in high-priced steel always ure the first
to feel a decline in demand, magazine added "While freight car builders are retaining
fcr prossure
steel plates they are shunning co7- version material. They want plates, but they don't feel the situation warrants paying the high prices of conversion steel." Calvanised sheets, extremely tight just a few months ago, also ordered with less zeal, boing weekly report said.
are
The
The domestic supply-demand picture improved, Steel said, us additional foreign iron and steel is being offered for sale in this
country
"Growth of steel shipments from Japan has forced European steal almost off the West coast market for galvanised sheets, black plate and plates." the magazine continued. *There is bellet the rebullt Japanese steci industry will mean inure com- for West Coast steel pro-
ducers."
Dutch foundry steel also was reported to be available on the East coast at prices not much above domestic ones.-Assoclated
Press.
N.Y. Stock
Exchange
New York, Feb. 9. Stocks recavered sharply after heavier carly losses. The final losses were generally amall. The dcelines folalled $1,700,000.
+
Of 1,177 shares tradeti, 312 -advanced, -583 declined and 280 unchanged. The analysta nt- tributed the action as largely technical and as further test of the lows. There was nothing in the news to affect the situation, Motors were lower. Texas and Pacific railway were down closing 123 while others were about A point lower. Movic stocks did well with gains ranging to over 1, stem- ming chiefy Lrom the enthusiasm over the prospects of the new third dimension movics.
Dow Jones average at the of the session stood as follows:
end
30 Industrials
40 bonds
New York
Japan's Longest And ROYAL INTEROCEAN LINES
Wildest Share Boom:
Exchange Calls Holiday
Tokyo, Feb. 9.
The booming Japanese stock market decided to take an unprecedented holiday today because, the Securities Exchange Commission said yester- day, all hands are exhausted.
The Exchange said many workers in the Tokyo and Osaka markets are worn out from handling "too much business" In Japan's longest- and wildest stock boom in history.
and
HONGKONG
SHARE MARKET
(From Our Correspondent) Several securities companies rose several hundred per cent
Business was inclined to be have been
Kiving workers tr. a year, Nippon Cement, vitumb-enriched menle and for instance, rose from 90 to sluck cn the Hongkong Stock the vitamin Injections, plus dolly | 430,
morning, Morinaga Confec- Exchange this
being of bonuses to keep on hundling tionary 84 to 305, Only ship- transactions reported the terrific volume.
pings and textiles, which have the value of $195,609.30. Noon been hard hit by recession, quotations were: have stayed quiet,
SHARES BUYERA SELLERS BALEY BANKS
The market has been boorn- ing for the last 13 months, shattering records almost daily in the past month.
"INCREDIBLE"
Its
HK Bak INSURANCES
Canten Union
Underwriters SHIPPING
Asta Nav. DOCKS, ETC
.
"TASMAN" *TJILUWAIT AN
"DG16SEVAIN"
"TJIDÄNTJET"
"TRBODAR** "TJIWANUI
SAILINGS:
Feb. 16 Fab. I
Peb. zo'
Feb. 22
Feb. 23 Mar.
K
Mar. 17
"EYHAAT BOENDA" Mar.
*TIILUWAU"
*THISABAṆE"
*STRAAT
- MAKASSAR"
"TIPONDOK"
- "TEGELNERO”
hiar. 17
མ ཐ་
Alar,
21
Mar. 29
**TJIWANGI"
Apt.
"TJIVANAS"
J
"VAN BEUTNZ"
Apr.
"TJIKAMPEK"
Apri
STIILUWAIr
"TEGELDENG"
**THHANTJET"
"REYS"
Apr. 23 "EJWANGIT"
May 2
"STRAAT BANKA” May 4 *THLUWAH"
MERY 14
Apr.
16
Apr. 22
Apr. 21
Kobe
Bingapore.
Djakarta, Burabalam” Mačanaar
SEMİRTANE,
Penang, Singapore, Djakaria, Mauri-
Liu, S. Africa & 8. Amerien Djakarta • Bemarang,
AIRCASES
Hurabala
Afanita. Hingapoře, F., & K. Africa
Bingapore, Djakarta,
Surubala, Narabenr
Japan
#emarks,
Bingapore, Djakarta, Nematau,
Hurabáfa & Macassar
Гарац
.
* Manila, Milet, Aingapore, Djakarta,
Mauritius, 5. Alléa 2 8. Amorjes Djakatt, Remarang. Kurábala
stacarsar Japan
Kingapore. Djakarta," Armatang
Buranela & Maravane
Manila, hingapore; K. & S. Afrien Jan
karia Herbarang. Sutabala
Starovar
Sincapere,
Djakarta. Semarang.
Kürabala & Marnarne Hingapore,
Djakarta. MRUTIIN,
4. Atrien A 8. Amertra Djakarta. Renating. Surabala
Alatasar
Japan
A
Hingapore. Bjakarta. Kenistani,
Aurabaja & Macassar
Mattila, Ringanere, E. ~82 8. Africa Hingapore, Jakarta, Remarank,
Burabala & Macuniae
ARRIVALS
From
Maras, Kurabala, Remarang,
Djakarta & singaporn
1470
740
70349
30 TATIS
836
1.05
N. t. Whart
0.60
up
pock
2020
provide 12.00
13
"TJIPANAR" "THLUWAI"
"TASMAN" "HOBSEVAIN"
Feb. 11 Feb 12
Fed Feb,
Japan
12
Pravtent
11⁄2 113 11.10.
WBetlock
'h41 Dock
1
1.00 7.30 000 ₫ 1.63
LAND, ETC.
Still wilder are a few hun- In the past 70 years. the dred other issues traded on the market has been suspentled | Curb. Shown only rarely-for a declaration of war or a great earthquake.
The average of 225 issues on the Tokyo Exchange ad- vanced from 107 Yen to 363 Yen last year. And in the last month, the average rose to 471 Усп
Most Japanese stock par value of 50 lasues have a Yen,
has been Not a low
The rise universal.
Against
Japanese
nearly issues
Competition
Geneva, Feb. 9.
The special working party el the General Agreements on Toriffs and Trade (GATT) hus now almost completed its work on a draft text with regard to safeguards against possible un- fair Japanese competitive prac- tices, it was leamed yesterday.
The working party has spent the past five days considering means of protecting GATT mern- bers from unfair Japanese con- petition and working out safe- guards under which Japan could eventually become a member of the GATT.
Aircraft was quoted at 100 Yen in January. 1082, when Ita factorles were idle. With resumption of activities, the lasuo went like a jet. Now you must pay nearly 20,000 Yen to buy it on the Curb.
Until two 5,000,000-share Way novelty.
years
8 ago, นาง 1
Now 15,000,000-share day does not excite anybody. February 3, 22,000,000, shares were traded in the Tokyo Ex- change, in a half day session.
"Incredible," is the
unani-
mous word murmured by · nll stock market veterans in Kabu- tocho, Japan's Wall Street, in commenting on the boom.
has Only the stock market boomed, while
-exports dwindled, the windfall, Korean war orders slackened and prac- tically all commodities mar- kets have floundered.
(New)
HK Intel.. 7.70 1.80 1000 7.70 2000 à 7,75
10
HK Land **
K Land (N) S'hat Land
UTILITIES
Star Ferry ..
1.6256
.សារ
22 27.20
113 316
500 @ 7.70
C. Light 101 0.13 9.20 1000
다
9.20
1500 15 0.20
100 40 0.20
933 1 1+15
40 B.15
1000 + 0,03
200 +1
1.05
2316 23.70 XCO » 23.60
Cement..... 1715 37.00 1000 » 17.70
C. Light (N)
Electric
Telephone. 1050
INDUSTRIALS
tope
20
STORES, ETC."
Dalry
19.00
Watson 2013
24
1000 20
EWO
3.45
500 I 2.45
3000 w 2.40
0000 M 245
La Crawford COTTONS
SUCCESSFUL SYSTEM Speculative funds are con- centrated on the stock market now that commodities markets are slumping, some profes- sionats say.
The professionals alse elle a MISCELLANEOUS successful Investment fund sys- tem as one of the reasons for the boom. The Investment fund system was reopened in June 1961, and has already drawn some 50,000,000,000 Yen from the public.
Unometal statistics indicato that most of the subscribers to the fund are working people, who now prefer stock to e- posits in a bank.
"It is understood that the
The Allied occupation broke draft text may be completed
up many huge trusts and car- by today and its recommenda- tions considered by a full meet-tels and ordered public sale of stock issues formerly held by ing of the CATT Inter-sessional
a few wealthy men. At least Committee Loday.
this Democratisation pro- gramme seems to have blos- Gomed into an unprecedentett boom now.
the
After discussion before full committee, it is possible that some Banouncement may be made an Thursday or Fri- day.-Reuter.
Chicago Grain
Futures
and
Yantsze Itongkew
3.15 6.93
Canada's
ཀ་་་
1.70
Exports Soar
Winnipeg, Feb. 9. Canadian exports for the pre-
be- sent fiscal year will be
ween $4,000,000,000, a $4,500,- 000,000, Finance Minister Dou-
reported. glas Abbott would be five times. the World War II figure,
This pre-
WIS
Minister The Finance Einest speaker at the concluding session of the National Liberal Progressive Association's annual convention last night. He said capital expansion in the Domi- nion, largely flounced by pri- vate investment, amounted to $25,000,000,000 In the pust three years.
Of the 225 issues, only about 50 most active ones can be traded short. All others must be paid in full with physical exchange of the certificates And most of the stock market customers in Japan buy sell only a few hundred shares cách:
NOT MECHANISED Moreover, the Japanese stock market
is not highly mechanised. No telephone ders are taken now; most ar ders are filled in the applica- tion forms, and brokers
Mr Abbott said there is an in the check prices by phone. There opportunity for saving is just be-
is practically no ticker-tape. Defence Department. However, For the past month all he did not belleve the Depart- workers in the securities com-
ment Was extravagant. --- Associated Press,
Chicago, Feb. 0. Wheat futures prices slumped today to the lowest point since the start of the Korean War. Experts said: "It
centa
perts
cord under its loan programme
avoid the low fcrmers try to market prices.
Prices closed today as fol-
OT-
must
Belawan Bell, Penang & Singapore / Japan
KING'S BUILDING, Ground Floor
TEL. 28015/18.
CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS, 31180, 25135,
MAERSK LINE
FAST FORTNIGHTLY ́SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
*M.S.
NEXT SAILINGS
"GERTRUDE MAERSK”
M.S. "TREIN MAERSK”
M.S. "NICOLINE MAERSK”
M.S.
Calling Vancouver.
ARRIVALS FROM U.S.A.
"NICOLINE MAERSK"
M.S. "PETER MAERSK”
M.S.
"ANNA MAERSK”
Feb. 11
Mar. 4
Mar. 18
Feb. 18
Feb. 28
Mar. 4
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Bulldtog.
Tel. Nos. 36066-0. Į
Dates and rotation subject to change wlibant notice,
At liberty to proceed via other ports to fund/discharga' cargo,
Capital flow.......from...outside sources, principally the United States, had been high during this period. But what Canada had lent and invested abroad PENINSULAR exceeded the total foreign in- vestment here:
啃
Second Best
In History
New York, Feb. 9.
cause there is too much wheat in the world". Wheat prices at tho Chicago Board of trade slumped 734 cents to $2.174nies worked until midnight to Rort out order forms, and yet per bushel. Grain ex-failed to do it.
they Today, predicted that the Gov-
will take over the re-worked a full day on sorting out high amount of grains backlog.
Until last. November, Japan's stock market opemted five days and a half in a week. In De- cember, the market decided to Major American Petroleum- take a half holiday on Wednes- companies had their second day. On January 29, the market higest earnings in history lost eliminated all afternoon ses year, topped only by 1031, In- sions. Last
30 dustry week, further
sources report. Net were clipped from the income of the 37 leaders in 1952 morning sessions. was estimated at $2,015,000,000, And now the market has closed down 3.6 per cent from the down for a full day on Mon- $2,000,000,000 reported in 1951. day.
U.S. petroleum consumption in The record-
business of 1952 reached a record 7.7 million 22,000,000 shares on February 3 barrels daily, an increase of 3,4 does not show the real amount per cent over 1951. The industry of trading.
Although it is expects an additional four illegal,
consumption securities com-cent Increase in known to
balance this year, panies are buy and sell orders within the
industry spent office, passing on only the dif- estimated $3.6 billon on ex- ferences to the market. The real pansion last year, and plans to business is simply stupendous increase the sum to over $3.0 -Associated Press.
billion this year. Asscelated
281.10
20 ralls
107.24
15 utilities
52.25
58.10
lows:-*
United Press,
Wheat-price per bushel
Spot
March
May
July September December Corn
2.10% 2.18-7.17% 224-221 7.233-2.211 2.3414
Spot
1.523%
March Млу July September December
ILYD March May
March
1.40
1.
1.53-153- 1.853-1.53
1.5211
1.09 nominal 1.73
Rubber Futures
on the abilities of Sir Ralph. merchants are stirring up a plan For with raw cotton tumbling, ready for when they can reopen these are losses that would have their "futures" market--where lu be faced by someone.
the world used to deal in risks in
cofion. In the old days, when Liverpool raw
the great centre of free
James president trading
sales cotton, Reynolds they meet to talk about enterprise
world over have it. speculators the
And one of their problems kaken of them.
will be most
how to raise new capital their job to run risks, for the job. was
For the Brst time we may see And if they were wrong it was Just too bad.
rich cotton-using firms like Coats and Dunlop forming off-shoots the become members of
BIG RESERVES
year to
Last year-and every since bulk-buying started-there market. has only been. Sir Ralph's "Arm" here to take such chances..
When prices were booming
everything was fine. It made big profits,
But as soon a slump.comes along a mighty crack, if the
Bussers are right.
TIN
LONDON
MARKET
Tho
London, Feb. D. tin market was steady
To mop up the losses now ex-today. Turnover was 85 tons pected, the Commission has including 25 tons for cash, reserves of £30,000,000. But Prices, closed today at the end after doing so, little may be left) of the official morning session as over to cushion further knocka, follows:
Luckily, there is a rush of pot tin, buyer
enthusiasm
among.
Spot'tin, seller. colton Business done at
Three-months tin, buyers
pinners to do their own buying
under
aw "freedom" rules. MORE CHEAPLY Four months ago, when they to cut loose bulk buying, few did so.
first got a chance
Now many moro want to follow
Three-months ting Businem done al Settlement
VTO
DOO
$45
$47 048-DAT 950 United Prem.
New York, Feb. 0. Security and commodity man- when the next opportunity comes kota throughout the United rotin. They have seen how States will be closed on Lin- much more cheaply they can buy coln's Birthday, Thursday, that way?
February 12-Associated Press,
New York, Feb. 0. . Prices of rubber futures closed today 40 to 49 points lower witla contracts. totalling 57 Tradings were quiet and feature- less. Prices closed today follows:- March May July September
December
March
#901
27.11
20.30
20.15 bid
29.73 bid
23
23.40 nomina! 25.40 nominal
"Ünited Press.
LONDON FRICES
London, Feb. D.
The rubber market was caster today. Prices closed today, as follows:-
Number 1 rubber, per „ib,'
La pence
March...
April/June
July/Beptember October/December
73-1316 MAY
731-1 New York flour-per 200 lb. Back. 11.80 nominal-- United Press.
NY Cotton
Futures
New York, Feb. 0. Prices of cotton futures closed today as follows:---
Apot March
2236-223 22-12
2215-32 221
“United Pres.”
MAY
July
Rubber For China
Colombo, Feb, D.
The 4,716-toi Polish freighter, General Waller,sa today Cond ing 1,700 tona of sheet rubber destined for Commmmist China under Ceylon's five-ocar trade agreement to all China, 30,000 tons of rubber a year.
Reciprocally she will buy 270,000 tons of Chinese rice annually-Reuter,
·MAT July.... October December
March
33.56-33.00 33.87-33,87 33,25-33,39
*United Press. NEW ORLEANS COTTON FUTURES
Spot
MAY
March
July
December
May
July.
Some
New York
The
Press.
per
חה
Sugar Market Singapore Rubber
New York, Feb. 9. World sugar futures closed today & lower to 5 higher with sales totalling 168 contracts.
Contract No. 6 closed today higher to 3 points lower with safes totalling 400 contracts.
Prices closed, today as · fol-'j lows:-
A Contract No. 4 (world) March
3.56 bið MAY
·387 bia July
3,88 bla September October Халиагу Murchs, May
......
Futures
futures
Singapore, Feb. D. of rubber Prices closed today as follows:- Number 1 rubber, per lb.
של גמד
March April May Number. I rubber, March 7344-7 Number 3 rubber, March 70 Number 4 rubber, March Snot, rubber, unbaled .... Blanket crepe ....
-3
NO
5.79 morninal 4.00 bid
3.50 nominal
spot
Contract No. 8
6.03
May
5.00 Birk
B.01
5.93 nominal
1. pala crepe,
United Press.
Exchange Rates
Business was done in the focus (markei ; this unofficial exchange morning at the following rates
1967
1,5. doller" (per Biscui Sterling note sper, 21). Indonesian guilders (pec 100), 2120
1/45 NOMINAI Siam thelapar 500)
Preis.
BiGpore (Birattu)
PIC pinotren (pee 100)
10,34 11.77A
PARABIT
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CORFU”
SAILS:
NOTICE TO · PASSENGERS
BAGGAGE:
WEDNESDAY the 11th February at 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.
SPECIAL NOTE: With
EMBARKATION:
•
ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No.2 Gate, - CANTON ROAD ENTRANCE by NOON on the 10th February, 1953.
of hand the exception 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. WEDNESDAY, the 11th February, 1953 between 9,80 n.m. and 11,00 a.m..
BUSINESS REGULATION
́ORDINANCE 1952
Copies of the prescribed Forms 1 (a) 1 (b) and 1 (c)
Now On Sale at S. C. M. Post, Ltd. HONGKONG AND KOWLOON:
TEN CENTS EACH