Page
MAERSK LINE
FAST FORTNIGHTLY SERVICE' TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA viz SAN FRANCISCO,, LOS ANGELES AND PANAMA.
PANNA MAERSK” *m. V.
m.v. "LEXA MAERSK" m.v. "PETER MAERSK"
NEXT SAILINGS
Apr.
Apr.
May
• Calling Vancouver. ARRIVALS FROM U.S.A.
m.v. "LEINE MAERSK"
"SEPPESEN MAERSK”
m.v. "ONETE MAENSK"
..
Apr.. Apr.
Apr.
For Freight and Further Particulars please apply to:-.
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel. Nos, 36066-9
Chinese Freight Booking Office
27, Connaught Road, C.
Tel. 20161
Dates and rotation subject to change without notice.
At liberty to procred via other porte to load/discharge cargo.
PENINSULAR
EPARABIT
THE CHINA MAIL, WEDNESDAY, APRIL 1, 1953.
Empire Development Finance
Record Taiwan
Exports
Talpel, Mar. 21.
Sugar exports frotn Formosa will hit a teostd high in April when 172,600 sons
will be shipped
abroad.
This compares with the previous manihly high of 110,000 tons exported la March 1951.
Of the April total, 80,000 Lona will go to Japan, 73,600 to Britain and 19,000 lons to the United States.
The surar shipped to the United States will be bar- tered for fertiliser-B¢u« ier.
PLASTIC BODIES
FOR CARS?
Detroit, Mar. 31, The car industry will find out this year how much of a market & ORIENTAL there may be for sports model
cars with plastic bodles.
Chevrolet has announced de- Bnitely it will build 300 such
STEAM NAVIGATION CO.
R.M.S. "CARTHAGE”
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
•
SUNDAY the 6th April at 12.00 noon (Hongkong Summer Time) for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.
Passengers are requested to send ALL baggage to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 Gate, CANTON ROAD ENTRANCE, by NOON on Saturday, 4th April, 1953.
SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading board by ship's slings only. BAGGAGE COOLIES WILL BE REFUSED ADMITTANCE TO THE WHARF.
on
EMBARKATION: Passengers should embark between 9.30 and 11.00 a.m. on SUNDAY, the 5th April, 1953.
Italy
The New
To
Menace
British Textiles
(By Yorke Henderson)
London, Mar, 31.
tari this year; Kaiser-Frazer
A
Company Given
Cordial Reception
London, Mar. 31.
An important change has taken place in the public attitude towards the idea of a private company to finance economic development in the Commonwealth.
Three months ago, when it was first mentioned by the Common- wealth Economic Conference, it was felt that the need was for men, money and machines, not more organisations.
The Commonwealth Development Finance Company has now been formed. Doubts remain; but now that more is known of its aims, and the method by which it proposes to achieve them, the venture has been given a more cordial welcome.
fs
The new Company will start International Bank, which business with an authorised willing to co-operate. capital of £16,000,000, of Through such understanding. which £6,750,000 is being sub it has been suggested, the Com- scribed by the Bank of England, pary might smooth some of the and the remainder by a group constitutional difficulties which of Important British business Imit the work of the World Bank Interests, including industrial, in the Dominions und the commercial, mining, shipping Colonies. and financial companies.
markets.
Effects
Shaken Off
Upset Caused By
Once a firm relationship hús Only 10 per cent of the been established with the World authorised capital is being called Bank, it should not be dimcult up for the present, and the Com-for the Company to extend its 10 foreign capital any will have power to borrow activities up to £20 million.
Korean War The sum
involved is small in
And the fact that it has the proportion to the amount of
Washington, Mar. 31. needed
backing of world-famous British for Common- capital
business concerns, as well as the The U.S. Federal Reserve wealth development, plans an even larger number.
But the nims and composition support of the British Govern- Board reports that gold and The "test run" to be conducted
should ment, should have an important dollar movements in the last of the now Company manufacturers these by
foreign that, though the quantity psychological effect on ensure determine what doubtedly will
most free several
may be modest, the quality of iis investors, who have thus far year indicate operations will be high.
shown no great Interest in Com-world nations have shaken do about plastic body automo-
These operations will be con-monwealth development schemes, off effects of the economic bites.
Several top
ducted along sound business lines.
upset caused by the Korean producers car have been experimenting for There is no question of financing Ill-conceived schemes of the years with plastic bodies. How-now-famous "groundnuts" type.
war, ever, none of them is prepared to say what price tags will have to be put on the cars that so far have been purely experimen- tel.
un-
other car makers will
will be bullt next year.
Of course the project could be dropped even before the 1954 model season if retail demand doesn't measure up to expecta- tions.
o!
Commonwealth
be
DIECTORS' HOPE
the Company should command in In fact, it, is the prestige that international nancial circles that has captured the imagination of British public opinion.
As the Financial Times com- ments: *The directors of the
that
billion
The Board said foreign countries had about $1,200,000- NO PUBLIO MONEY
000 more in gold and dollars at Nor will public money, be
the end
the of 1952 thin at Involved. Rather, the Company
beginning of the year.
During the year, it said, the There may
may not be will seek to encourage private
United Kingdom and the Ster- that capital to participate in schemes Commonwealth Finance Companying Area as a whole, despite significance in the fact
that fulfil Chevrolet, the world's largest car
fundamental condi-
hope that, in time, the knowledge improvement in the last half of that a small amount of capital maker, has decided to feel out Lions of commerelai soundness.
financing
dollars of its gold and the retail market for a plastic. It will also engage directly in is being provided by themselves the year, lost about half body car. Chevrolet's announce-
approved
will confer on an investment pro- dollar reserves. ment said that while 300 of the projects.
fect the same kind of status in The Company's interest in the world's capital markets as
Western European continental plastic models are planned for
countries, on the other hand. of a built up given by the name
of this year an even greater number development schemes will depend
their reserves upon the fulfilment of three London acceptance house to a
dollars and gold by $1,200,000,- basic conditions:
bill
reserve net build- 000. Other scheme must (1) The
10 atrengthen the
reported in Canada, "It is by this means
ups were designed
Latin America, and Asta skill can be Sterling Arca's balance of pay- London financial
The Federal Reserve report ments position. This is in line widely and fruitfully spread over
was based
gold and on toin! with the polley inid down by a great variety of resources." dollar
Prime
not transactions,
just the
U.S. A The doubts that remain about transactions with the Ministers last December and now
from the U.S. Depart- adopted by the British Capital the usefulness of the new Com-report
pany are chiefly related to the ment of Commerce three days Issues Committee.
of setting aside ago on balance of payments (2) Applications will be ac-dimculties
firms and resources, from, internal savings with the U.S. alone said foreign of countries gained $182,000,000 in authorities. Before the as well as from balance cepted from private public-
funds into payments surpluses, for invest- gold, and dollars during the Company will sink
year in such transactions. The a proposed venture, however, it ment in the Commonwealth.
the Commerco must be shown that the necessary These problems are certainly Sterling Arca,
gained is not available from not minimised by the formation Department reported,
1952 $431,000,000 in "normal" sources-eg. of the Company, but it is clear some
In- local capital markets. Applicants that much valuable work remains transactions with the U.S.. must, moreover, be willing to for it to de-London Express cluding
The Federal Reservo report put up some ot the money Service.
that indicated, therefore, themselves.
Hie British pald
elsewhere out about twice as much in dollar and gold transactions as they gained with the US in 1052:
The Reserve Board sald the United States at the end of 1952 heid gold valued at $23,300,000,- 000. Gold purchases here by
It is fairly well understood throughout car circies that a car with a plastic body, cannot be assembled as quicidy as can the standard steel body type. The plastic that goes into the type of sports cars shown at the various car shows during the last few months requires a lot of costly handling, shaping, treating and reinforcing. Associated Press,
Spanish Production Of Steel
finance more
(3) The
proposed schemo
HONGKONG
Ja
..
com-
SHARE MARKET
(From Our Correspondent)
on the Stock Business done Exchange this morning amount-
foreign countries since then have brought the total down to
$2,600,000,000 at
at present.
The Federal Reserve sald general improvements of gold und dollar reserves abroad re- nation in many countries, plus flected measures taken against ed to $625,035.40. Noon quota-proving production, as well restrictions tions and the morning's
transghtening of
against dollar imparts. The sactions:-
improvements, it added, have plans for making currencies convertible (freely exchangeable for other curLTCA- ales) and loosening trade re- strictions.
must hold out definite promise of being remunerative. Appli cants will have to satisfy the Company that the scheme soundly conceived and that ex- pert
has management
been Aviles, Spain, Mar. 31. Spanish steel production is ex-provided. pected to surpass 1,500,000 tons
BY OTHER STANDARDS annually by 1058, according to
of estimates
the National The real value of the new Industrihi Institute.
Company cannot be judged by Spain's current annual produc- its ability to provide funds from tion la estimated at 800,000 tons. its own resources. This must
sald this
necessarily be small in Government officials Agure would be increased to parison with the total need.
within the next 1,300,000 tons
Its value must be judged by with completion of other standards
example, for two years
and the quality of modernisation
of its directors and plant expansion at present under the strength of the links they are
ne between able to forge
Common- To this figure must be added wealth borrowers
ers and interna❤ the 350,000 tons of steel to be tional Investment organisations, INSURANCES
by the new both public and private. produced annunily
The Board of Directors Aviles plant. Plang call for this plant to be producing by 1958-7. certainly able to bring a vast now £10,000,000 plant amount of experience to bear on non - Sterling will be built by the British the problems of Commonwealth
The bid development. engineering industry. represents the biggest and most
its chairman is Sir Frederick Now Italy,
that single Important
order
that Godber, head of Shell Petroleum, boosting her extensive rayon In-British industry has received "Shell" Transport und Trading. dustry since the end of the war, since before the war.
and United-British Ollfelds of
Japan may have to yield pride of place as the number one bogey of British textile manufac- surers. The new menace is Italy.
And already British rayon exporters are scaring themselves with speculations about the possible results of an unrestricted flow of Italian rayon goods into world markets.
Cotton manufacturers in Eng-1 their hans land have made plain their imports, concern about the prospect
of competing with low-price Japanese ection. plece goods if
Britain Colonial markets raise
on
which has been
Large-scale
way.
is
The Rubber prices with a view of capturing arms. The remaining 24,000, of Robert Fleming and Company.
Markets
Singapore, Mar. 31.
today as follows;-
April
May
markets, particularly
in East
Africa and the West Indien.
a
in East Africa, British rayon supervision of British contrac-
do
handsome tors.-United Press. exporters businese with what the trade known as "two-way stub rayon",
Prices of rubber futures closed a baste material much in demand. New York Sugar
Number 1 rubber, per .
Junio
Number
rubber. April
69-603, 003- 601-4 08-67
0115-03
especially in Uganda.
Futures
England; Sir
uve Chairman of Anglo American
is offering the same sort of Under agreement terms a total Trinidad. threat to Britain's rayon men. of £0,000,000 worth of orders
The Directors include, Mr British Similarly. Italy a slashing will be placed with
R. E. Fleming, managing director
out to formed be 000 will
director of and a Spanish
the bankers, firms under
Barclays Bank; Sir Geoffrey Hayworth, chairman of Unilever; Mr H. C. B. Mynors, an exccu- director of the Bank of
Sir Ernest
Corporation of South Africa and The British rayon industry
mining com- ; other important makes a wide range of materials,
panies; Sir Edward Peacock, a but the head of one of the main
New York, Mar. 31.
of Baring exporting concerns rayon
closed managing director In World sugar futures London admitted that, quality today to points lower with Brothers, bankers, and a director of the Canadian Pacife Railway: for quality, the Italians seem males of 113 contracts. 11-05 ablo
undercut British prices. Contract No. B closed un-Sir Robert Sinclair, chairman of changes to 4 points lower with and a director of the Finance the Imperial Tobacco Company SALES TO RUSSIA
sales totalling 77 contracts.
The weakness in the outside Corporation for ladustry (an Prospective customers in East The rubber markat was Africa and the West Indies are urme drop in eccurities and the relation to British
commodity markets, plus the organisation which fulals,
Industry, a that now offered Itellan dress dullness in the raw market, similar purpose to
at 28 3d and 23 ed a fumished a combination attract undertaken, in relation to Com 2012-21 2013-31 For the same sort of material ing scattered liquidation in both monwealth development, by the
contracts. British manufacturers cannot go Prices closed as follows:- 20K-T
below about 3a a yard and stay 2017-4|in 1 business. United FrOK.
Number 3 rubber, April ..
Number, 4 rubber, Apri
Spot, rubber, undaled
Blanket arepe
No. 1 pale crepe
69-10
פו-דין
--United Presa,
· LONDON MARKET
London,. Mar. 31.
irregular today. Prices closed being
as follow Number 1 rubber, in pence
por b..
May
Jung
July/Beptember
October/December
January/March
fabricz yard.
Contract No. 4 (world)
1.13 bid
bla 3.14 bid
May July And the fears of British rayon September men are in no way allayed by October
to sell March
JAPANESE BONDS or reaching City quarters January
Jan London, Mør, 31.
Japanese bonde
HERREAN, DE 1901 **** 100% of 1024)
that
the.
May
3.19 nomina): 9,40 kominkal
539 nomina)
bag bla
Italy managed £1,000,000 worth of rayon fabrics Spot (f.6.b. Cuba) 3.13
Contract No. and yarns to Russia during
"May. July Another country making pro- Beptember samo feld in November
March
pot (0.1.£. New York,
first 10 months in 1952.
2014 gress In the
DOYL
141 Czechoslovakia which is offering
leven Italy keen competition.
in
C. D. F. C.); and Mr 1. A. R. Stedeford, chairman of the Tube Investment and a director of the National Provincial Bank.
FIRST TASK
It is clear that the Board has not only men of proved ability but also the necessary, prestige to attract foreign Investment in Commonwealth. devolop ment schemesky
Led Preis.
[att
I first task-will be to reach
understanding with
the
784
1.40
BHARES BUYERS BELLENS SALES spurred
DANKS
East Asta... 143
Union SHIPPING
Asia Nav.... DOCKS, ETC.
K. Wharf... 7014 N. PL Wharf B.10 Dock ...... 18.30 Provident, 1140 1111⁄2 2500 e 131
250 to 11.40 4000 h 11 Wheelock *7.45 4100 7.00 LAND, ETC.
HK Hotel
7.35 7.40 1300 140
• Land (0) 63 57 100 49 BB S'hai Land.. 11 1.00 Humphreys 13.35 UTILITIES
Tram..... 213% Blar Ferry 102
Light (0) DOO
C. Light (N)G
.... 22.80
Electric
30031.40 250 of 102
9.55 9.00
200. $3 -0.55 100 ** 0.45
400 22.00
2006 22.4G
500 22.00 17.00 17.20 1000 17.40
Telephone INDUSTRIALS
Cement
14.00 STORES, ETC.
Dalry
......... 20.20
MESSAGERIES
Outwards
M
MARITIMES
M
PASSENGERS/FREIGHT SERVICE
"FELLI BOUSSEL”
Leaves Marittlen Hongkong
anilad
"LA MARSEILLAISE" 12 Ape.
Hongkong 1
Komawarda "FELLE ROUSSEL” "LA MARSEILLAISE” 23 May
10 Apr.
19 Apr.
1
10 May
· Marsellies
20 MAY
15 June
For Stanila Vakotinsan
Vis Ralgon Nalgon
yle Marseilles to all Mediter runean & West Africa ports, via Djibouti to Madagascar,
Outwards "MEINAM" "MONKAY"
Homewards "COURSEULLES”
"MEINAM" "PEL-NIO"
"MONKAY"
...
FREIGHT SERVICE
Hongkong
5 Apr.
27 May
For Japan Japan
For
LWAY RO
·Dunkirk-sailed „Antwerp- Apri
Leaves
Salled
· Kerlung-23 Apr.
............Keasung-22 June
flongkong
2 Apr.
20 Apr.
30 MAY
24 June
+ Salgen, Marsellies, Algiers, Oran, Tangiers, Casablanco, Le Havre, Antwerp, Rotterdam & Dunkirk CIE DES MESSAGERIES MARITIMES P.O. Box 59, Hongkong Queen's Building (Gr. Floor) Tol. 26651 (8 lines).
EVERETT
E
LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator--passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"LENEVERETT”
Arrives Salla
Apr. 7 from Manila, Apr. for
"REBEVERETT”
Arrives Salle
Penang.
Singapore, Rangoon & Calcutto.
Apr. 23 from Singapore,
Apr. 24 for Kobe & Yokohama. (Accepting cargo for transhipment) Kabe/Purin and Kɔbe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Koren, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"THAF
Arrives
Sails
Apr. 2 from Japan.
2
Apr, 3 for Singapore,
Fort Swet-
tenbam, Madros, Colombo,
.Khor- Bombay, Katachi, ramshahr, Basrah & Bahrein,
"STAR ARCTURUS”
Arrives Sails
LAO
Arrives Sails
Apr. 5 from Singapore Apr. 6 for Kobe &
Apr. 9 from Japan,
Yokohama.
Apr. 10 for Singapore, Port Swet- tenham, Madras, Colombo, Khor- Bombay, Karachi, ramshahr, Basrah & Bahrein,
(Accepting cargo for transhipment) Kobe/Pusan and, Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephono 31206, Chinese Department: Telephone 28293.
The Hongkong & Yaumati Forry Co., Ltd.
FERRY SERVICE TO OUTLYING DISTRICTS (In force on and after the 1st April, 1953.).
CHEUNG CHAU FERRY SERVICE Leaving HONGKONG for Leaving CHEUNG CHAU for
(Direct)
CHEUNG CHAU 6.20 a.m. 0.55
HONGKONG
4.00a.m. 6.45 nm,
1.80 p.m.
(To- Aberdeen)
(Via B. M. B,
& Ping Chau)
(Direct) (Direct)
Via
Via S. M. B. & Ping
Ping Chau) (Direct)
Via
(..)
9.00
-(Via Ping Chau
7,45
& S. M. B.)
• 10.20
10.00
(Direct) ・・
11.00
11.00
(Via Ping. Chou
& S. M. B.)
11.16
§ 11.30
(Direct)
1.10 p.m.
its
1.30
Via Ping Chau
1.45
& S. M. B.)
§3.00
4,20
(Direct)
4.30
4,30
4.45
& Ping Chau)
** 5,00
(Direct)
+1
0.15
"As 1952 ended," the Federal Reserve Board. sald monthly bulletin, "most coun- tries of the free world were ex-
levels high periencing
of expnomie activity without marked inflationary pressure."- Associated Press,
Grain Prices
In Chicago
Chicago, Mar. 31. Prices of grala futures closed today as follows:-
Wheat-price per bushel
1100 27.70
+
2.30
Ar
150 20,10 Spot May July 20.30 Wation CoTTONS 21% 21.70 2300 21.09 December
EWO MISCELLANEOUS
Yangtern
September Corn
Brot
May
July
September
December
Byo
LONDON TIN
May
July
Only
July
Now York
May MARKET ⠀⠀
London, Mar, 31. The ́tin · market... was very weak today. Turnover was 170. tons, including 35 tons for enah. Prices closed at the end of the offlelal morning session fallows
'10
Spot Un, buyers Spot Un, or Business done at t Threw months in, buyi Three months tin;, wollers Business' done at
tuleuvent
929-010
05
2.3415
(Via Ping Chau
9. M. B.)
(Via Aberdeen) |↑ 6.30 (Direct)
0.45
5. M. B. & Fing Chau) (Direct)
21
:
(via 5. M. B
SILVERMINE BAY FERRY SERVICE
Leaving HONGKONG for
SILVERMINE BAY 8,150.m. — (Direct) 0.00 9.10
#1
| Leaving SILVERMINE BAYK for
4.30
HONGKONG
7.15 am.
(Via Ping Chau) (Direct)
11.30
11,00
(Via Ping Chau)
2.00 pm.
1.30 p.m.
(Via Ping Chou) *
5.00
3,20 .4.80
(Direct)
5.15
0.40
(Via Ping Chau)
(Via Ping Chau) (Direct)
mục Via Phong Chan)
(Via Ping Chau)
(Direct)
(Via Ping Chau)
(Via Choung
Chau)
SUNDAYS & PUBLIC HOLIDAYS ONLY.
From Wilmer
*• From
St. Ferry Pier. (Bandays excepted)
Wilmer St. Ferry Pler.
PING CHAU FERRY SERVICE
Leaving HONGKONG for
11,00
PING CHAU
9,00a.m.
1.30 p.m.
4.30.
Leaving PING CHAU for HONGKONG 7.35 0.
11,50.
2.20 p.m.
4.35
#
TAI O - CASTLE PEAK FERRY SERVICE Leaving-¡LONGKONG
Hongkong
200 tb, Back Kap Sul Mun
Chitto Pesk
four-per #13.10 nominal--United Press.
Exchange Rates
Business was done in the locat unometal exchange market this morning at the following rates La dollar (por 31)
Bierling note (per-41) Indonesian gulidern. · (pkr, 100)
135-82514 | Blum Ucale (per4100) | United Press. [FIC" plastrós- (per 100)
Tung Chung
Leaving TAI Oʻ
2.00 pm. Tal O
7.00 am.
3,00
tị Tung Chung
9.00
3.45
#
Castio Peak
8.45.
4.80
Kop Sul Mun
0.10
5.40
Arriving Hongkong. 10.30
SPECIAL FERRY (VIA ABERDEEN),
Arrlying Toi O
TAI O-
pet (From Wilmer: 61, Ferry, Pier) -
HPT Leaving TAI O for Leaving HONGKONG
for TAI O
4,00, p.m. 17 HONGKONG.. SUNDAY EXCURSION — Direct to TAI O
| Leaving Hongkong" 8.00 min.) Leaving Tai O W
4.00 am,
5.00 pm (Calling" at "Tung Chung)