Page
THE CHINA MAIL, THURSDAY, MARCH 19, 1953.
British Government And Anglo-Japanese Trade Agreement
London, Mar. 18.
The British Government has not yet decided its attitude towards future trade relations with Japan, but in doing so it will take into account the fact that Japan's right to claim most-favoured-nation treatment from Britain was denied to her under the terms of the Japanese Peace Treaty.
Removal Of U.S. Controls
Appears To Be Working Well
New York, Mar. 18. The old law of supply and demand has gone back to work in the United States. And, sa far, the Govern- ment, producers, sellers and consumers appear delighted with the way it is operat- | ing.
The
Republican ministration has put
new
011
Ail- the ald law to work by removing most Government controls materials, prices and wages,
controls
invoked The sonic two years ago coon after Korean of the the outbreak war-by the Truman Adminis-
tration.
In
were
Ανε rapid-fire orders, Government price ceilings have
from been removel variety of products und
H
wide ker-
vices. In most cases they di not make any difference 'cause prices were below their ceilings.
bc-
Price limits now remain vn only 3.9 per cent of the stem:
Government's i covered by the consumer price index. Most of Use 1st still eurbed consists of
industrial materials inclutting
sleel,
must chemicals, metallic build- ing materials, iron auct sume other metals such as nie- kel, and large quantities af and machinery, machine-tools,
11-
Tome heavy manufactured
dustrial equipment. More ut these are expected to be De- controlled soon and almost all controls will go by April 30.
#
President Eirenlower told news conference that Are business has shown adancing moderation in price policies since price controls started to tume off,
ONLY MAJOR CHANGE
The President noted that
major about the only
price change was for copper. The red metal has risen about six cents above its former ceiling price of 24.5 cents a pound Eince it was de-controlled," That won to be expected because it is scarce and had been selling' far below the world urice.
This was stated by the President of the Board of Trade, Mr Peter Thorneycroft, in reply to a question in the House of Commons.
Licut-Colonel M. Schofield, Conservative Menther for the cotton town of Rochdale, had pointed out that Japan's admission to GATT would enable her to claim the most-favoured- nation treatment denied her under the Peace Treaty,
Harbour Jam Company Chairman MESSAGERIES.
Colombo, Mar, 18.
Ships queued for bertiis In Colombo harbour today because of jams caused by a wharf workers' “go slow" campaign, now in His ninth day.
The men are demanding a 50 cent (ninepence) mid- day meal from their em- ployers-Reuter.
YUGOSLAV
ORDERS IN JAPAN
Tokyo, Mar, 10. The three-mon Yugoslav trade misalon will order six 30,000-kilovolt ampere thermal generation plants--the largest
makers Japanese
have produced since the war,
The mission, headed by former Vice-Premier. Serbis Voja. Lekovic, arrived on Mon-
the
He asked the President Di day.
the Board of Trade to take i this into account "in opposing
oration,
New Agreement Japas membership of the or
On Wheat
Not Expected
Sydney, Mar. 18. The Chairman Australkın Wheat Board, Sir John Teasdale, said to- night that he did not ihlok that there would be a new International Wheat Agere- ment,
"The current International Agreement expires in a few mouths time.
Sir Jolm Teasdale, who had returned by air from America, said that when h left Washington the talus for a new agreement
hart reached stalemate.
He would not disclose the difference which sepurated selling and baylag prices. -Reuter.
American Maritime Policy
New York, Mar. 18.
Mr Thorneycroft agreed that if Britain assumes the obilga- tions of the General Agreement
Negotiations on the
plant, which costs some $12,000,000 are being conducted between The mission and the Calicht Trading Company.
According to present
the
on Tariffs and Trade towards manufactuz calls for
Japan, she would also assume
an obligation to accord her Just - favoured - nation treal- ment.
Speaks On
Capital
For The Colonies
London, Mar. 18.
Capital for the development of Colonial in- dustries would not be available from London or anywhere
Outwards
M
MARITIMES
M
PASSENGERS/FREIGHT SERVICE
"FELIX ROUSSEL”
Homewarde
"FELIX ROUNSEL"
Leaves Marseilles fengkeng
Mr.
Hongkong
* 12 Apt.
via Marseilles to all Mediterranean & via Djibouti 10 Madagascar.
Outwards "MEINAM"
else unless it was offered the "MONKAY" opportunity to earn a fair reward.
So said Sir John Hay in his annual chairman's address to the shareholders of Linggi Plantations Limited.
Penal taxation, he argued, was one of the greatest drawbacks to investment of this type.
Taking his own company G EN example, Sir Jolin pointed out that U.K. and Malayan taxes absorbed over 70 per cent of Inst year's profit.
In addition to the taxes to which industry at home was subjecte. income tax, profits tax, di tax, distribution tax, and excess
pronte levy →the Malayan plantation rubber industry was subject to heavy export calculated on output, irrespective of whether profits are made or not.
tax
"Under this system," sald Sir plans,
the John
John Hay, "an owner who has his land with high of dynamos, tur-replanted ins and boilers by three yletding stock has to pay export separate leading manufacturers
fax at the rate of, say, 1,200 lbs. in Tokyo and Yokohama.
Other technical points" con- cerning the order are expected
be settled to be
during the current talks. The order calls for the
Bat he reminded the House that the GATT inter-sessional cenumittee had suggested, in its recent report, certain provisionsshipment of plants 15 months for periniting a suspension of after the
of the conclusion obligations towards any coun- contracts, Seltlement of the
tsused | fry, whose competition
would be made over acontints violent disruption to trade,
"No deelsions have
ve years. been
Payment through direct bar- made on this matter,"
Mr
ter or through a triangular trade Thorneycroft went 0/1, "ond
System with italy and Spain, con. klering" these
suggestions,
with which Yugoslavia has a we shall certainly take into ac
favourable balance, is also con- count the polits to which
sidered,
Although there may Lieul-Col. Schofield has re- ferred."
10
MOST POWERFUL
Livut-Col Schoßelt then arked whether ir Thorneycroft was aware that the right deny Japan most-favoured- sation treaiment is Britain's most powerful weapon against "eut-throat Japanese competi- tion, and that there would be much misgiving in Lancashire if it was thrown away.
Mr Thornycroft replied that this raised large and complex questions of commercial policy. Mr Philip Noel-Baker, So- ciult-t, pointed out that while important to
protect arish industries against "uri- Japanese production" the International Organisation und in
The Eisenhower Administration it was will continue to promote strong, active, privately-owned fate American- feel, the Under-Secretary Ful Comme
nesthrough Labour for Transportation, Robert E. other ways, we must neverthe Alutray Jr., naid.
les "bold out, the hope of a It's Mr Murray also diclared that bra
prosperous future to The his department is aware of the Japanese people if they are to need for Guernment financial remain a democratic and peace- assistance to support a fleet prful nation." gramme.
market ublican
Pederal funds for this) Mr Sidney Silverman, So- he said, are considered clalist, said it was even more purpose,
investment 123 American important to guaranteea · economie stability and national prosperous future for Lancs- sceurity.
hire. He asked what steps the Mr Murray's statements, made Government was taking to pre- in a suereh, gave the first inkling vent Japan "seizing for its own of what policies the
new Re advantage the tratie with China, Administration in which the pulley of the Govern- Washington may adopt towardment has prevented us from the American merchant marine.
doing." mammer in which this i Mr Thorneycroft assured Mr curbsncial) support can be ex-Silverman that he had the in- best in needing these terests of Lancashire very close have objectives," Mr. Munway said, to his heart.-London Express reruined about the same and will be a matter of continuing Service. few have Heclined.
study in consultation with the Several
Prices of cigarettes and other items have moderately since price were removed but most
a few risen
The
major companies industry itself and Government
raised the price of petrol short-
ly after controls were off but,encies.
The Under-Secretary stressed:
in less than a week, they drop the need for a strong American
of supply and demand was
ped them back again. The law marchant marine both in peace- working again. There is ample time 1 wartime, declaring: petro, and other companies iG- fused to raise prices.
Many persons thought the price of bread would go But brend makers
aro
in the event of locals23 war. not be
in which we might
HONGKONG
SHARE MARKET
involved, we could be reriously | Injured through failure to secure lly adequate bottoms for trade with promptly said no price increases
other neutrals. In the event of
(From Our Correspondent) planned. Some Douglas fir and War involving our own nation. Western pine lumber products we dare not depend solely on
We should Business done but the foreign slipping. have gone up slightly
on the Stock Some immediately Head American Exchange this morning amount- increase is not general. price firmness is expected
experienced crews and fed to $145,805. Noon quotations to flagships. develop in custom-moulded and trained omcers fur military and the morning's trans- fabricated plastic products be- auxillary demands and for our actions
of higher production own commercial life lines.
cause costs.
the SHARES BUYENA BELERES SALES Mr Murray sale that.
profitable and | DANKS The motor-cor industry In-maintenance of
IK Bank XD 136 will equitable world trade, in which dicated no price changes
East Asia... 148 result from de-control. and fair competition can flourish, INSURANCES
flagships able UNIS. IT' some industry spokesmen pre-calls for American
fair share of this
SHOPPING dicled a sharp drop in prices of to carry a used cars. As for makers of country's foreign commerce. appliances,
He observest that the United spokesmen point out that the industry is far too States now is the world's greatest Decan-going merchant ships of
competitive ut The moment Lo maritime power, with 3,349
permit price increases.
or in reserve
So, the old low of supply 1,000 TOSS tons or uver, now and demand is working again on octivé duly. and de-control has eliminated a fleets. mountain of paper works for "We attained this top grade producers and sellers who had through necessity," Mr Murray to make
full reports to the said, "and we do not intend to Government un sales. -- Asso- {relinquish it."--Associated Press. clated Presa.
LONDON. TIN MARKET
London, Mar. 10. The tin market was steady today. Turnover was 40 tong including five tons for cash and 25 tons for early, April. Prices
Asta Nav... DOCKS, ETC.
2. Wharf :..
live
per acre.
"An owner who has neglected to do so may pay at the rate of 300 lbs. per nere.
Thus is celency encouraged and rewarded!, Verily the ways of modern economic planners are strange and past understanding."
New India-
Pakistan
Trade Talks
Progressing
New Delhi, Mar. 18. New tria talks between India and Pakistan have opened in a well for a salsictory agree- friendly atmosphere auguring incat which may start coal and fute moving once more between the two countries.
The present talks have momentarily lessened the ten- sion which has embittered rela- tions between the two countries over the past years since parti- tion.
The trend ig at present so be barely percep- slight as to tible and may ultimately prove Sir John recalled that ted emerged in the past two weeks, illusory, but there has definitely British Government had promised at the recent Commonwealth in both Press and Parliament, Economic Conference to maintain a more friendly tone on both and increase the How of U.K. sides.
Members
INCENTIVE NEEDED
be some differences on price. capital for overscas develop hath Doth!
cement purposes.
It is believed that the contract will
be signed during the three month visit of the mission.
The Yugoslav mission is also expected to order mining machinery and ball bearings.— France-Presse.
The Rubber
Markets
J
Singapore, Mar, 19.
to the A technical reaction default by a Chinese firm was largely responsible for the im provement in rubber prices by 1-5/8 cents per pound
ם
steady market here yesterday.
The market was somewhat erratic, at one stage dropping from 72 cents per pound for first grude rubber for March ship- ment to 715 cents and then moving up to 73-1/8 cents at the close.
---A ̈ ̈fair-activity was reported with small overseas and short covering which contributed the steadiness
to
on the market. At noon, prices were about a cent above the previous day's levels.
Prices of rubber futures closed Ds follows:-
Number 1 rubbor, per lb.
April
May
June
Number 2 rubber,
Number 3 rubber. Apr
Number 4 rubber. April
Spot ruber, unbated
Blanket grape
No. 1 palý črepe
C03-7015
6435-0032
-United Press.
NEW YORK MARKET
New York, Mar, 18. Prices of rubber futures clused today 15 to 30 points higher. Trading was limited and featureless. Prices closed today as follows;
May
September December
July
March
May
Spot
26.10
2323
24.80 bld 24.85 bid
20
United Press,
LONDON MARKET
London, Mar, 18. The rubber market was quiet. ly steady today. Prices closed ns follows:-
Number 1 rubber, in penes
per lb.
April/June
50 750 April
May
1.35
June
0.35
500 p 19.48
1000+ 121
N. I Wharf Dock
10.50 Provident st
Proviilent (New)
Whecock
LAND, ETU
11 500 € L
7.03 108
HK Land (D) 403% S'hai Land ... 1,40 TÊ 2009 e 1.40 ]· Humphreys
12.20 1234
XD
UTILITIES
19.30 20.10 900 € 19.00
104XD
Tram XD Star Ferry..
Cg N 5.03 Electric XU21
* 1000 x 5.00
-800 vt 20.30
JAPANESE BONDS
London, Mar. 18. Japanese bonds,
"A" (45.
of 10001 48" (43. of 1010),
(53. < 1007)
"E" (5. of 1030)
500 20.3
Tel. XD
15.80
1000 21, 2000- 16
02 71
STORES ETC..
Dairy
20.00
18.70 18.00 500 € 18.00
123 COTTONS
Ewa
1435 Yangiaro
"D" (55. of 1924) 1002 MISCELLANEOUS
-United. Press.
closed at the end of the oficial Grains In Chicago Exchange Rates
morning session as follows:---
Spat tin, buyers
Spot tin, geilers ...
Dukes done at
| "Pireo-months tin, buyers
Three-monthia tir, sellern
Businos dona at Bettlement
United
047
943
matkat
July/Beptember October/December
United Press.
Cotton Prices
In New York
New York, Mar. 18. Prices of cotton futures closet today as follows:-
34.15 gýminal Spol March May July October December March May
23.02
43.74.4
July
33.30 hid
Epot
-United Press, NEW ORLEANS MARKET March
8.00)
October ||10,80 || December.
March 33.20 May 18.30 Jut
Chicago, Mar. 18. Dualnega was done in the local
unofilcini exchango were higher Chiengo grains Dis with other leading commodities morning at the following rates:-
1 dollar (per, #1}] 45 irregularly ligher. Whest clos- | sterling nole (per £1 941ed % to 1% higher and spy-indonesia, guilders (per 1ody 11:00
a beans were to 1% higher amicals. (per 100)
Unlied Press.
Singapore (Straits) FIO plastre (per 100)
341-347
bid
of Parlament - in and Karachi have recently referred to defence co-
Cation between two tries. yesterday, struck
Mr Nehru too, in a' speech
But capital front London or elsewhere would not flow unless it was offered Incentive in te form of opportunity to earn a fair reward for its expenditure. could be beginning
enlightened made to this more policy, Sir John asked, tha quick and substantial tax relief to the rubber-producing industry outlook.
What botter
—"the greatest of our existing Colonial enterprises
and out-
dollar carner?"
standing doll
Discussing the
company's
note emphasising permanent position
He appealed
neighbour.
coun-
moderate Pakistan's
Da India's
to Indians
to
avoid falling prey to a blased
This
tenuous trend towards friendship is possibly due to the sobering effect of the recent
financial situation, Sir John said riots in Lahore which made
both countries that although last year's crop
aware of tho an unstable
from dangers
was 70,000 lbs. higher than in the previous year, such was the situation arising in Pakistan, decline in the price of rubber pest indicated by an
India's foeling is perhaps proceeds were nearly £$50,000 less.
that
BRITISH CAB
when
EXPORTS
London, Mar. 18.
urlicle yesterday by the political com- mentator of the Hindustan Times, a newspaper in clase touch with Government opinion,
"No one in India As happy about the developments in Pakis- ton, for only a stable and pros- perous Pakistan can
pull its
-Reuter.
Britain shipped 3,030 cars to weight in the affairs of South- Australia in January, in a month east Asia," the commentator said.
exports and production were both above the average.
The Society of Motor Manu NY Stock Exchange facturers and Traders said to day the number sent to Aus-
New York, Mar. 18. tralla showed a continued im- Stocks moved idly most of the provement un the lowship session, leaving the spotlight to ment of last August.
specialties. Industrials finished Daring the
month,
41,110 32 cents lower in the averages. cars were produced and the Rails lost 41 cents and utilities commercial four cents, weekly average of
Or 1,182 issues traded, 478 January exports numbered | closed higher, 433 lower and 279 21,850 enrs valued at £7,700,- were unchanged. Steels and 000.-Reuter.
motors cased.-United Press,
vehicles was 5,159.
International Bank Reports To UN
Washington, Mar. 18.
The International Bank reported to the United Nations today that admission of Ger- many, Japan and the Hashemite Kingdom of Jordan have brought its membership to 54 nations and its subscribed capital to $9,036,500,000.
The report was prepared for¡ing that Ceylon's chief task is the United Nations Economic to expand and diversity its pro- and Social Council and covered | duction so that productivity can the last eight months of We keep pace with the growth of Bank's operations. EL sum-¡ population. marised the loan activities of
4-Made two loans to India..... the Bank in general and then
for an fron one of $31,500,000 gave brief sketches of the pro and steel company as a result of Jects it bas undertaken in Europe, Asia, Africa, Australla the Bank mission which went has there in June, 1952, and a loan en The Bank and America.
of $18,500,000 to the India, Gov- made loans to 28 countries totalling $1,673,700,464 of which emment for key projects in the Bamoder Valley, including Д hydro- period covered by this report electric plant and an irrigation They wero to Australia,
eight loans were made in the development of the
Colombia Finland, Iceland, system,
India, Peru and Yugoslavia.
5.-Sent a mission to Japan
the including
Bank's Vico-
In Asia the Bank listed these President, part of the time to activities during the period appraise Japan's economy and under review:
coflect Information on under-economic prospects
capacity
foreign scryc
Bank's director
1.
Ficid studies" taken on the Indus system of rivers by engineers of Indi şi and Pakistan looking toward
to
and
-The
Philippines to advise the Gév- 2. Sent a mission.toernment on the development at Burin In response to a eloquent market for Government by the Government to approlac bonds.
the evolution of a programme made a two weeks' visit to the for interconed water use."
and
Thal-
nation's
7-Sent. Ecoliomy
mixion to A potentialities and examine its land to review the general a financial and economic position
development plan,
3-Presented to the Govern ment of Ceylon the results of a general survey mission suggest-
further development. United Press.
there and to examise prospects for
Homewarde
MEINAM" "COURSEULLES" "PEI-HO"
"MONKAY"
20-22 Apr.
Due Marseilles
FREIGHT SERVICE
Leaves
----Bunkirk—xalted
....... Antwerp——* Ape,
Leaves kerlung- 5 Apr. „Keelung-28 Apr. „Keelung¬Z#* May Keelung-18 June
23 MAY
For
MADGA
Vis
Balkon
West Africa porta.
Hongkong
For
3 Apr.
Заран
23 MAY..
Japan
Hongkong
For
Apr.
+
+
30 Apr.
30
May
20 June
† Salgon, Marseliles, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam' & Dunkirk CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong Queen's Building (Gr. Floor) Tel. 20051 (3 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPUJA via SAN FRANCISCO, LOB ANGELES AND PANAMA,
NEXT SAILINGS
*M.S. "NICOLINE MAERSK" *M.S. "ANNA MAERSK" M.S. "LEXA MAERSK"
M.S.
Calling Vancouver.
ARRIVALS FROM U.S.A.
"LEXA MAERSK”
M.S. "LEISE MAERSK"!
M.S. "JEPPESEN MAERSK"
Mar. 22
Apr. 2 Apr. 17
Mar. 21
Apr. 14
Apr. 24
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building,
Tel. Nos. 36006-9
Chinese Freight Booking Office 27, Connaught Road, C.
J
Tel. 20461
Bates and rolation subject to change without notice.
As liberty to proceed via other ports to load/discharga cargo.
EVERETT
++
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to. Korca, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.
"NOREVERETT"!
Arrives Salls
Mar. 23 from Manila. Mar. 24 for Singapore,
Bi
Rangoon
"BRADEVERETT"
Airives Salls
Mar, 25 from Singapore.
Penang. Calcutis.
Mar. 25 for Kobe & Yokohama.
(Accepilng cargo for transhipment) Kobe/Pusan and Kabe/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,
"THAI"
Arrives
Sails
Apr. 2
from Japan. Apr. 3 for Singapore, Fort Swel
Colombo, tenham, Madras, Bombay, Karachi, Khor-
Basrah
ramshahr,
Bahrein,
"STAR ARCTURUS“
Arrives
Bouis
δε
Apr. 4 from Singapore Apr. + for Kobu & Yokohama.
(Accepting cargo for transhipment) Kobe/Ppian And Kobe/Okinawa)
EVERETT STEAMSHIP CorporatION S/A
Queen's Building, Telephono 31206, Chinese Department: Telephone 28293.
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