Page
WE
THE CHINA MAIL, WEDNESDAY, FEBRUARY 11, 1953.
MESSAGERIES MARITIMES East German British Undertaking In
M Bid For Trade
M
Arriving
Leaving
"LA MARSEILLAISE" . Feb, 24 Feb. 23 1"MEINAM"
**REST"
+Jfar. 15 Mar. 19
In Port Feb, 11 SFAC. 7 Mar. T "LA MARSEILLAISE" . Mar.
+"FRY HILL"
+COURSEULLES"
**MEINAM”
Mar. ་
?
Al
# Apr.
·
Apr. 11 Apr. 13
• For passenger and freight.
•
Outward For
Yokohama & Robo
Japan
Homeward Far ·
N, Africa A Europe N. Airtea Europe Marseilles via Manila N. Africa & Europe N. Africa & Europe
With Egypt
Cairo, Feb. 10.
An East German trade dele- gation arrived in Egypt today- just ng Egyptians wero 'sitting in at a series of conferences with a West German delegation.
At a Press conference later fu the day, the Egyptian Minister
of Nationale, Gound
Calal, said the
German
For freight to Saigon, Marsellies. Algiers, Tangler, Casablanca, delegation "has come by itself
Havre, Dunkirk, Antwerp & Rotterdam.
Accepting cargo:
-
-vla Marselites to nil Mediterranean & West Africa. Ports, -yla Djibouú to Madagascar.
Bubject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
P.O. Box 58, Hongkong
Tel. 26651 (3 lines).
Queen's Building (gr, floor)
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Maliya, Rangoon, "Calcutta and Chittagong.
"NOREVERETT”
Arrives
Sulle
Feb. 21 from Singapore. Feb. 22 for
"REBEVERETT"
Arrives Sails
Kabe & Yokohama
Feb. 28 from Manila.
Mar, 1
for
Singapore, Rangoon & Calcutta,
Penang
(Accepting cargo for transhipment) Kobe/Pusan
and
Kobe/Okinawa)
LINE
EVERETT STAR
Fast regular freight-refrigerator-passenger service to Koren, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports,
"STAR ALCYONE“
Arrives Salls
Feb. 19 froin Japan. Feb, 20
for Singapore, Port Swetten- ham, Madras, Colombo, Bombay, Karachi, Khorram- shahr, Basrah & Bahrein,
"NORDSTJERNAN“
Arrives Salis
Mar. 4 from Japan, Mar. 5
for Singapore, Port Swetten- ham, Madras, Colombo, Bombay, Karachi, Khurram- shair, Basrah & Bahrein. (Accepting cargo for transhi!pment) Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Tolephone 31206, Chinoso Department: Telephono-28293.
Japan Planning Big Trade Drive In Middle East
to investigate the possibility of establishing trade relations with
Enked whether the delegation
had come uninvited, he replied: "I mean exactly what I have Just raid."
He added Egypt was "rrady to listen to what the East Ger inans have to propose."
Cairo
Bonn 1st year elgoed
a trade rgretment pro- viding for exchange of US$100,- 000,000 worth of goods on barter basis. Egyptian
to
n
To-
officials have peatedly stated they were ready sell Egyptian cotton "to who- ever wants to buy it."
Egypt and other Arab states have threatened to sever trade
olations
with Bonn if West Germany pays reparations to ISTRC). Recent
sald reports East Germany had made a bid loward replacing West Ger- many it a break in trade with Bonn became effective. — As- sociated Press
Chicago Grain
Futures
Chicago, Feb. 10. Chicago
advanced grain strongly in the late rise attri buted to the increased short covering and buying of wheat credited Lo export dealers. Wheat closed 15% to 3 higher 324 and soybeans were 2% to higher in sympathy with grains noted less selling as traders pressure. Prices closed today as follows:-
Whost-price per bushel
Spot March
May July
September
December
March May July
2.21% nom
2-2434-36
2.261)-3
1.5816-4 7.30-15
Commonwealth Talks Now Put Into Effect
From RONALD BOXALL
ROYAL INTEROCEAN LINES
ROYAL
SAILINGS
"TASMAN"
"TJULUWAL"
"DOISSEVAIN"
*TJIDANTJET"
Feb. 16 Feb. 19
Tub. 10
Feb. 11
"TJIDODAS"
Feb.
ZETBAAT BOENDA" Mar.
#
1
"TLIWANGI"
*TJILUWABTM
Mar. Atar. 18
"TJISADANE" "STRAAT
MAKASSAN"
London, Feb. 10. The undertaking given by the British Government at the ro- cent Commonwealth Economic Conference to facilitate the TIPONDOK financing of development schomes in other Commonwealth countries has now been put into effect.
This has been done, first, by making £60 million of Sterling avail- able to the International Bank for lending in the Sterling Area, and, secondly, by asking the Capital Issues Committee to regard Common- wealth development projects as desirable objects of investment. “
The Capital Issues Commii- | quest that "clear priority should i tee, under the chairmanship be given to projects which are of Lord Kennet, vols applica~ | errentially and positively
of lated to the tions to raise large sums
rearmament pro money on the London capital gramme, to the stimulation of market.
It then advises the exports to desirable markets, to Chancellor of the Exchequer the eaving of imports, parti- whether to grant or withhold | cularly from dollar resources, permission for the money to be and to the relief of basic de Falcki.
ficiencies, especially of Tow The C.LC. has now been materials" requested to give sympathetie considerations to projects which appear likely....to contribute materially to the Improvement
EXPORTS PRIORITY The types of project to which the C.I.C. wlu in future give special consideration are those
of
Barter Deal
With India Speculation
Washington, Feb. 10.
to lead to an expansion The textile trade is speculating
of the Sterling Area's balance of Commonwealth exports, par-jon the probability of a new bar-
the
HOU
connection
*TEGELDERO" "TZWANGI"
Afar. 17
atur. 17
plar. #
Atar. 20 Apr...
Kobe
To
4
Singapore. Djakarta, Bemarang,
Buzabala 25. 85acasar
Penang, Singapore. Dijakarta, Mauri-
tus, 8. Atelen & N. Amezies Dinkarin Semarang, Bucabela
Macasat
Manus Bingapore, K. & 8. Africa
Semarang.
Japan
Singapore,
Djakaria,
Surabain à Dincassar
'Singapore, Bjakarta) Bemarang,
Bursbala Alacamar
Гарад
– Manila, Miri, Mingapore, Djakarta, Mauritius, R. Aftlea & 8. merien
trabala
Djakarta, Bemarang,
Macatar
Japan
Bingapore,
Djakarta.
a
A Semarang,
Butabala & Macassar
Manila, Singapore, 1. & 8. Affles
Kurabnia
A
Jakarta, Remarang,
Aŭrabnia & Mar
"TJIPANAS”
Apr
"VAN HEUTSZ" "TJIKAMPER"
Apr.
Japan
Apr.
Djakarta, Semarang,
Macassar
ADE. 14
Aingapore,
Apr, t
Apr. 23
Apt. * May
"TILUWAN"
"TEGELBERG"
"TIDANTJET"
"HUYA** "TJIWANG
"STRAAT BANKA“ **JILUWAR"
MAY 4 Mxy 14
Singapore.
DINATIA, Atamriftit,
8. Africa & 9. Americk Djakarta. Semarang,
Atucar
Japan
Klagtpore, Djakarta. KrpanBE.
Hurabala
& Marassar
Meulis, Ringapore, E. & M. Aftlen Ningapore. Djakarta, Semarang, I Surabala & Morassar
ARRIVALS
"TJIPANAR" "TILUWAN"
"TASMAN".. "BOISSEYAIN"
11 Feb. Feb. 12
Feb. 10 Feb. 19
Japan MacAART,
From
KEMATARK.
Burabala, Djakarta & Aingapore Belawan Dell, Penang & Singapore Japan
TÉL. 28015/18.
payments with the non-Sterling
world."
ticularly of raw materials, or jer deal between Argentina and | KING'S BUILDING, Ground Floor the Committee a reduction Until now,
of imports
as a result of greatly im- from India hes scrutinised applications to non-Sterling Arms,
proved agricultural prospects in CHINESE AGENTS; 82 CONNAUGHT RD. C. TELS. 31196, 25138. raise now capital in the light of,
British company Argentina this year, Chancellor's previous
Argentina requests large quan- ng to raise new capital inj
tities of Indian jute products as with un Oversea Commonwealth development wrapping for wheat and other project which will beneft the commodities. Her present stocks Sterling Area's bolance of pay. said to
to be snail. According to rumours, the new ments, can expect its applica- tions to be granted by the C.I.C. dont would involve 80,000,000
Similarly, an application from yards jute products, an oversia Commonwealth company,
HONGKONG
SHARE MARKET
on
(From Our Correspondent)
Business transacted the Hongkong Stock Exchange this marning totalled $274,138
in value. Noon, quotations and the morning dealings, were: SHARES BUYERS SELLERS BALES BANKS
K Bank... 1915
East Asia... 145
INSURANCES
Canion
Union
Underwriters
BH Fire
031420 20 ve 1420
150 200
70%
1.30
Corn
Spot
1.31 nom
150
1.55-41
SHIF ING
Aa. Nav.
1.00
DOCKS, ETC.
N. Pt Whart
8.00
Dock
20
Providents (N)
11
S'hal Dock
Wheelock
LAND, ETC.
September
1.5619
December
Ryo
March
May
"Oats March May
1.70 nom
1.7473-15
7432-78 7412-74
New York hour per 200 1b. Sack. $12.83 --United "PrOKS.
New York Sugar
Market
New York, Feb. 10. World sugar futures closed to- day one to points higher with sales totalling 64 contracts.
Contract No. ( closed today unchanged to 1
point higher with sales totalling 71 contracts.
Prices closed
today hs
follows:
Merch May
July
Contract No. 4 (world)
September
October January
March
MRY
3.00-3. 1.68
3.61 nominal
3.03 nominal 3,80 · noruinal
1.42 nominal
3.33 nominal 3.58
5.81 bid
Spot
Contract No.
Mareli May July Feptember November
Spol
5.61 bld 3.53
Tokyo, Feb. 10. Japan plans a new trade drive into traditional March
An 11-man British markets in the Middle East. delegation is due to leave Tokyo this week on a two months tour of Egypt, Syria, the Lebanon,
Iraq and Persia.
"Its members include representatives of some They of Japan's greatest industrial combines. will offer cheap textiles-at a third of the British prices; bicycles and sewing machines-not such a good bargain; a wide range of excellent electrical mostly equipment and industrial machinery cheaper than comparable British products. And every type of ship from tugs to ocean linera.
-
5.00 bld
5.93 nominat
5.45 nominal United Press.
New York
Rubber Market
New York, Feb. 10. Prices of No. 1 rubber tutures closed today unchanged to 20 points lower with sales totalling 43 contracía. Spot and futures cared with dealers reporting only senttered buying interest with Far Eastern pefees calling the highest. Prires closed today. as follows:-
27.10 25.24-
The chips urc expensive. and in South-East Asia. They March Owners who buy in Japan pay are demanding the right to sell May July nearly twice as much as they more and do it soen-before September would in Britain. But delivery Japan's supplies of Surling run: December
March (1954) is promised in nine months, not out.
Spot three yours.
:
They are Hoping that existing The Japanese would, like to widespread Sterling Area rẻ-
Mocatiegh strictions against sell torcers to
Japanese
28.00 bid 35.75
Area
being
wiill
or
reveive
are
De-
Reports to the Commerce seeking now capital partment state that the Argen in London
for a project de tine wheat crop prospects signed to expand the exports of wheat this year against only Or for 7,000,000 metric tons of reduce the imports of a Sterile 1,000,000 tons in 1050 when
country.
fore Argentina suffered IL severe favourable consideration. Before
large drought. The Argentine rye crop મૈં permitted to raise large sum of money in London, how-is estimated at a record about companies will 1,000,000 tons with a similar ever, overseas
Committee amount of barley and onls. have to satisfy the
The US. juto demand has that it cannot be raised in their own country,
since the progres- Though the emphasis on de-sive reduction of Indian export
The taxes.
price in America sirable projects shifted to bring Commonwealth reversed the earlier trend among development nearer the top of US, farmers to use cotton and the Committee's "priority list", paper Instead of jute bags.- this does not mean, that it sell Unlled Press. grant oll application sub. mitted to it. For example, project that might otherwise be considered desirable would not be granted if it was likely result' In Increased consumption ra materials, without compensating balance
* 7.00 73 000 @ 2.63 of Imported
HK Hotel... 7.03 7.75
UK Land (0) 83 50 100 -5515
11K Land (N)
S'hai Land
1.00 1.80
Humphreys..
13.30
UTILITIES
1000
Train ....***
C. Light (0) 9.15
22.10
0.28
1000 F 0.20 1000 0.10 C. Light (N) Electric
23.70 504 c zas Telephone 10.40 10.00 200
(N) INDUSTRIALS
hos now been
of payments advantages.
a
to
the
NY Foreign
Exchanges
unofficial
* 30-day futures
Closing rate February 10.
D0-day futures..
NO GUARANTEE Nor will the fact that Capital Issues Committee has Canada (deitar) England-oficial "desirable" project approved a 24.10 Star Ferry 113 116
be
any guarantee that the money needed will, in fact, be avail- able for that particular purpose. Australia (pound) In advising the Treasury New Zealand (pound) whether or not grant mission for a capital Issue London. the Committee has take nocount of the amount Jnoney likely to be on offer the time. But it doesn't-and carmot-guarantee success,
As far as can be judged, the new request to the C. I, C. will
30
131 & 1715
17.60 17.80
20
18.00
500 * 10 500 10 23% 23.70 12222113 2.45 2.53
Cement Rope STOLLES, ETC.
Dairy COTTONS Wation MISCELLANEOUS
Yangiaze Ilongkew
Ewo
5.80
1.10 1.00 2000 +
New York
per- South Africa (pound)
In Belgium (Tone) in Denmark (drone) 10 France Franc) "of West German
US$ 1.02-11:10
2.93 asked
2.62-1/33 200 bid/
2.06-12/10
2014
2253
2.15%
2.021
.01093
.1403
.002316
2383
0010
Norway (drone)
1405
| Sweden""" (drone)
Portugal (escudo) Spain (peacta)
1933
Deutciemark Holland (guilder)
| finly foficial
1 make little or no difference to Switzerland-free
Cotton Market
Atlanta
an
run-
the
present arrangements
for
Issuing
even
the
the
.43123
2.027
.3583
Argenting official
.072
Is
0500 .0103
4020
1,00
11104
0045
.2005
2117
.1755
.0000
Indies
Japan
300 yen to USS 1
-United Press.
New York Stock
Exchange
MAERSK LINE
FAST FORTNIGHTLY ŠERVICE TO: NEW YORK. BOSTON, BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS *M.S. "GERTRUDE MAERSK"
M.S. TREIN MAERSK". M.S. "NICOLINE MAERSK"
Mar. Mar. 18
4
.. In Port Buoy A6
Calling Vancouver. ARRIVALS FROM U.S.A.
M.S. "NICOLINE MAERSK"
M.S. "NICOLINE MAERSK” M.S. "ANNA MAERSK"
Feb. 18
Mar, 1
Mar.
5
For Freight and Further Particulars please apply to:-
AGENTS:
!
JEBSEN & CO.
Pedder Building.
Tel. Nos. 80066-9. ]
Dates and rotation subject to change without notice,
At liberty to procted via other porta to loaḍ/discharge eNTEO,
MORE GOODS Britain's
PRODUCED.
Washington, Feb. 10.
at
U. S. manufacturers last year delivered
valued goods $276,500,000,000, three per cent more than In 1951, the Depari-. ment of Commerce reports.
The gain was all in actual volume of goods delivered, since manufacturers" prices declined somewhat during the year.
Stocks held by manufacturers were also higher at the end of end of 1951, 1952 than at the $43,600,000,000 on a seasonally basis at the end of adjusted December, compared with 40,-
Rising Food Supplies
*
London, Feb. 10. ably better meat supply and
Britain can expect a consider- modest rise in supplies of bacon, butter and cheese during 1053, according to the current issue of Commonwealth Economic the Committee's Intelligence Bulletin. The report said Britons ate more bacon and meat in 1952 but less butter and cheese.
The report which reviewed * imports of 1952 said mution ad and lamb supplies roso by 130,-.
000 tons. New Zealand sent
000,000,000 also seasonally justed, at the end of December, 1851. Here, too, a slight decline
284,076 tong and Australia in prices of materials during the 18,532 tons. year indicated that the rise was all in the volume of goods held In stock by manufacturers Associated, Press.
Caspian Sea
Beet and veel dropped by: 75,000
supplies tons. This WAS used mainly by smaller sid piments from Australia and from New Zealand. Imports Australia fell by 31,000 tons and New Zealand by 13,000 tons.
Middle East Egypt (pound) overscas Common- Iran (ral) wealth Government loan stock Iraq (dinnar) in London. In any case, the Turkey Lira) failure of this week's Southern Latin America Rhodesian issue chowed that,
Brazil (druzeiro) when permission Bolivia (boltylano) granted, the outcome of govern- Chule-free ment loan operations in. the Columbia (peso) Now York, Feb. 10.
Cuba (60) The cotton market today reopen market depends primarily Mexico (peso)
terms offered to, Peru-free
Uruguay (over) versed yesterday's pattern and upon
Investors.
Venezucia a higher ground moved into
Indeed, the shortage *of Far East after
irregular opening.
private capital for this purpose India (rupes) higher Nearby months
opened on trade buying which was at- was one of the chief factors in Pakistan rupee)
British Government's decl- Hongkong tracked by yesterday's sharp de sion to
make £60 million of Netherlands Zari Concerning the
spot Sterling wadiable for leniling Slogapore market, favourable reports were by the International Bank over
colved
from Atlanta and the next six years. This money Houston an- will be lent to Sterling Area Memphis, while nounced that a casier tone was governments which cannot raise noted ira spot cotton there.
money for development schemes interests reported by any other means,
CLEAR rather active mill inquiry" for
BENEFIT This will clearly bereft the spot cotton on deliveries
Area's balance of ning forward on for as autumn Sterling
In months".
another report payments with the non-Sterling from Houston, Texas will have world it World Bank loans are
Now York, Feb, 10. will slight increase in cotton applied to. projects that 11
Stocks declined for the seventh Increase exports ог aercage this year, according to either
reduce dependence on imports. consecutive session with utilities all indications...
Moscow, Feb. 10.- A big off-shore oil well has duction in imports from Australia But even in cases where they alone of major groups closing
small galos, "Social" with
Poatings been struck in the Caspian Sea, which fell from 667,617 tons in are applied to the
totalled 1,330,000.
Of 4,153 according to N. Baibakov, Minia 1051 to 277,011 in 1952, *** development type of projects--
Cheese Imports from Australia which have no Immediate effect lastes, 385 advanced, 453 declined ter of the OLI Industry,
He said 25 kilometres (15) rose about 201,410, tolis to 207, on a country's capacity: to and 304 unchanged. Industrials
will expert-they
simulate in averages lost 29 oenis, rails miles) of treaties had been bullt 672,
Ex imports from Australià fris Motors weakened. Ralls and more than 40 individual Imports of capital goods from 35.- Briluft And this will help were lower slightly. Olla changes bases for prospective drilling creased by 42 per cent. Totat
anlected.
Imports wero 10,028,000 'dozen Britain to build up a surplus in were very small. Utilities had
"The all refining industry is compared with 12,718,009. dozen its trade with the rest of the gains ranging over a point, Gold Sterling Area-which is the chares had gains ranging nearly improving its work, cald the in 1051,Reuter. only way that money can be sol 2.
Minister. "In the past year now aside for direct lending to the " Dow Jones averages at the capacities for the primary re
fining of ell and for cracking. overseas Commonwealth.
end of the. (sezlon" stood as
have been brought into opera follows:-
ton
At the same time, the Minister admitted there are shortcomings. “In the work of the¦ of in- dustry," he said, "There are many shortcomings, the elimination of which would allow it to develop El moro rapidly."--Associated Press,
The market opened up 11 points to off & points. It ad- vanced progressively to close up B to 37 points. Prices closed today as follows:- Spot! March May
23.40 nominal
25.40 77% United Press. LONDON PRICES
July
Outaber
December
London, Feb. 10, Prices in the rubber market
March
May July
Spot
March
May
2016-12
July
October
News that the aged oil dictator goods will be modified or lifted closed today quiet as follows:
his own tankers in may buy Italy has caused .considerable The declaten concerning this No. 1 rbber, in pence per Interest in Tokyo,
Th.
resta with Britain and other March
| members' of the Sterling" "Aren.: Apri/šnje "We will naturally discuss the 11 is
recognised that Japan Juby/September matter whilo
дго in must trade to Live, but it is October/December Teheran," a member of the equally entsion sild:
must be held
Many orders
essential for
tho
Bierling Area to pay its way.
Bartor Agreement
Cairo, Feb. 10.
LiUnited - Press.
Doplers Mark Time Now York Feb. 10N
ar less stalematest today. Buy cia
Popper trade remained moro
and sellers marked Ume. Sput
|
33.59 nominal 32352-32.91 123-3.25 33.38-33.19 33.88 'nt 33.70
31.00 nominal $4.38 big United PreER,
NEW ORLEANS PRICES
32.60 37.30-23.85 33.17-33.30 ·
December March May
33.54 bid
33.70
33.27 bid
- 34.03),
21,00 bid
Upitaď Proku
Singapore Rubber
Quotations
Bingapore, Feb. 10. Price of rubber, futures closed
Number 1,rubber, per iþ,
March 44
Exchange Rates today follows
up, however, until after the conclusion of the present Anglo- Japanese trade talks in Tokyo, The talks have been temporarily mispended While facts and
material; and stock awalling | Businam was done in the local ord
exchange Agures are referred back to. Egypt will supply cotton is release were both quoted at imoinetal Landon.
exchange for Dutch Industrial around:#1.18 a pound. Maane) matig, at the followin
V.B. dollar (p«r, $7)) Bierling note = [per #1 The Japanese are pressing products under a trade m pay-while-Tebrimary shipment was for a considerable traite increase monte egreement Between the quoted at around 1.17, March indonealar mutida (oer with the Sterling Area, two countrjed ilgned here today. 1.15, and April 1:14 u posted, diameals per D)
Aingapore (B{{M}]}} particularly in the Middle East |--Reuter,
United
ZIG: plastres (per 100).
Number rubber, Number & rabber, Number & rubber
Blanket crepe No pale grupe
·30 Industrials
20 ralls.
15 utilities
40 bonds
100.00
281.07 52.40
United Press.
DR.10
Seeds And Oils
Oil Well
1
New York, Feb. 10. Prices in the seeds and Copra In New York
Butter and cheese consumption warg the lowest for many years, The drop in butter supplies was caused mainly by the severa 're-
LONDON TIN MARKET
Londen, Feb, 10,
•The in market--war dull:to- day. Turnover was 10 tone in cluding, 5 tons for cash and 6 tons for early May,
Prices closed today at the end of the official morning, session an fölm lowed Spot tin, buyer
spot tin, seller
olla market "hero clored bøday: 7
Business done at Unchanged, the Kollowing
New York, Feb. 10' Three-months tin; buyer with Copra was quoted today at Three-months tits, soiler lax good, per bushel, 503 $220 per stort to Coconut på mininese done.at Bainheapolis 39.85; ——— United | was quoted today. 184 centa," a Settlement
pound, nominal United Press.
075
United Presa