Japanese Skill For Oil?
Abadan Project
Tokyo, May 26.
The Japanese Idemitsu Kogah company, owner of the tanker Nissyo Maru, 12,000 tons, which recently brought 18,000 tons of
of
to Japan from Abadan, is going On with
arrange ments to obtain more oll from Persia.
On the other hand, other com- pantes in Japon report that they have been afflelady informed that oll further dollar allotments by Government will the Japanese specify that the funds are not to be used for the purchase of Persjan oll.
is reported that the itemit company. with funds ofready allocated for oil purchases, plans to send the tanker to Alada for a third voyage, when she returns from her second tilt on which she aniles a week or so agi
The
is also said to company is Intend making future purchases by barter If the Government does not allocate funds, The, prst- ferred method would be exchange Japanese technical skill for all for oil.
tro
In Tokyo it is considered unlikely that the Japanese Government would refuse Jo permit Japanese technicians wil Travel to Persiu.
CHEAPEST DEAL
Revelations In Singapore's Annual Report
THE CHINA MAIL, WEDNESDAY, MAY 27, 1953.
The Singapore Annual Report for 1952 con- tains some interesting revelations.
Singapore's public finances are described as healthy. There is likely to be a surplus on the
This will bring the general SIDa revenue balmmer to over millons. The public debt
Provision for $115 millions, sinking funds and payment of Interest amounted, in 1852, to ander 50 millions, less than 34
of the pur vent
Colony's 10- venue.
Secretory could not bring him self to admit that the cast would have to be in by Hi- ertnsed taxation. Part, he pro- re- mised, might come from serves,
report
BONN AND THE SOVIET
Talk Of Trade Resumption
·
P.O, Box 83. Queen's Bldg.
MOSSADEGH HAS MESSAGERIES
LOST OUT IN OIL DISPUTE
In the year which has passed between the publication of the 1951 and the 1952 accounts of the Anglo-Iranian Oil Company the Persian oil dispute has remained an unsolved Issue.
M
MARITIMES
Tel: 26061.
M
PASSENGERS/FREIGHT SERVICE
Outwards "FELIX ROUBBEL"
Jomawards
•
Leaves Matsetiirs
# June
Ilongkong
"FELIX ROUBBEL" ..fuis July
Jongkong
10-11 July
For Manila
lue Marseilles
VA
23 August → Yokohama
via Marrellies to all Mediterranean & West Africa porta. via Djibouti to Madagascar.
Outward
Increasingly, however, Dr Mossadegh and his supporters appear as the losers by their own ONKAY" hand.
üssels.
"MEKONG"
Homewards
FREIGHT SERVICE · ·
LIVEI ................Europe -Salted
....Hamburg-21 May
Leaves Keelung - Sunr
..Kedjong-2¢ Jute alicelung–31 uy
tlongkong
4.10 June
3.14 July
Hongkong
10 he # July
amy
1 August
For
Japan
Fot
↑ Salgon, Marseilles, Alglers, Oran, Tanglers, Casablanon, Le Havre, Antwerp, Rotterdam & Dunkirk.
BUBJECT TO CHANGE WITHOUT NOTICE
(From Donis Martin)
Bonn, May 26, West Germany hopes to year's working of over $38 millions (about £41⁄2reopen its traditional ex- change of goods with the millions).
Soviet Union within the Except for the trickle of piralę | success of emergency measures, a { "PEI-HQ"
oll-which is vigorously hunted d:ethe in trading profits from "MONKAT" next few months.
down In the courts by A.1.0.C-C110in. 1950, Negotlaligns have already be-
the 1st year Persia's position
"SILVER, SANDAL” gun-a well-kept secret disclosed has ceased, to count.
as a producer when it had the full use of its "MEKONG" by the "Eastern Committee" of
Persian properties, to £50m, lat The world vil the powerful Federation of Gor-adjusted itself to the loss of those ass
industry has year, the first completely without man Industry. In one part of the
The Nussions,
supplies, from that quarter. So,
OUTSIDE PURCHASES say German there are claims that "great spokesmen, have submitted a list extent-though
too, has Anglo-Iranian to a large The contraction in trading effort was made 1952
of goods which they would like resilience in this
the company's profit last year compared with tackle the shortage of houses,
respect can the £71m. of 1931-n year when to, order from the booming in- never be allowed to obscure the Ferahan supplies were available "one of the Colony's most in-
dustries of the Ruhr. by tractable problems," pro
The list has not been published, priation of the Persian field and largely the additional cost to the
damage done to it
by
the expro- for the first six months-reflects social research progranime sviding Geronimodation "elt of funds."
about ten Bducand ple but according to the Germans, it
people
the Abadan
refinery. Elsewhere the Singapore's wealth is not re-
materials admills "etratugle value." The Russians,
company of outside purchases. The contrast of its own resulta fleet in the Colony's rates of
that the only way 1 suive the
ans, with the general trend of world of crude which it obtained from To supplement the 2014 m. tous It is understood, are particularly oll salus is sufficient Illustration the Kuwait, which pubile assistance,
problem, in view of the are
anxious to exchange
food and to be well that the population is increas- icially admitted
of this latter point.
Qator and Iraq below subsistence level. To get
an-grain products for machinery and
fields, it ing at the rate of 30,000
Whereas it could
bought
tons nearly 7m. even this charity
nually, is to provide, at rents. Contact was
have ex- of all, mainly refined producis, consumer goods from Germinny. there is
established with pected, in normal circumstances. There was also, for most of the n
meldition to
which tenants can afford to pay, test, ita
to participate in the benefits of at least sixty thousand
at last month's the upward trend of world con- freight rates in forte, wiilch ac- the Russians
a high level of tanker meeting in Geneva of the United sumption ki the past two years. centuated the cost problem for Jawellings immediately.
Nations
Economie Commission
It has seen instead, despite the the for Europe,
despite company, possession
of a fleet totalling close on 2m. tons and an almost
substantial equally
long- chartered tonnage,
Yet the explanation Biven abandonment for major,
most anal
residential lest
of necessary.
This residential test appears to be based on the strange as- Aumption that an old person who has lived in the eolony for ten years does not need sa much to keep him alive as perron the same age who hap ilved in the colony for twenty NOBA.
INCOME TAX It is estimated that the Angle-
Even in face of Communist Iranian refineries, running under threats to solve all social prob-
Japanese technical supervision, | Jenis through unorthodox could put it in a fraction of one methods, the Singapore Govern- day enough to supply all Japan's it still hesitates to merease needs
the income tax (witch at pre- sent produces 36%% per cent
for a month.
30
report
BAD HOUSING
fact
new
If the present rate of popu- lation Increase goca nu, and the present rate of building is nat meceased, the need in ten years. will be for a hundred thousand dwellugs.
The simple truth is that thousands of Singapore's home-
·less tarn less than $200 (£22) a month, which, the Govern ment argues, means "that it is not possible to build for this
economie
contains
no
of
There, for the first time since the war, a team of German ex- perts put out feelers to the two European Iron Curtain states with which
trade-Running still has no
Ressin.
DIRECT TALKS Lists have now reached Bonn from both cow
countries, and direct
negotiations between
een Bucharest
and Moscow and Bonn are ex- pected to take place sour,
developments
cum como ad charge
R is hardly to be won- Allied security oftelals are at if poor people hwatching these
feeling themselves closely, particularly the Ameri neglected by thit authoritics, cans who have been trying for are knipted to listen to tho
years to close what they call the Communists' promises to solve "back door to China" vin the the problem for them?
Bonn Republic and the Soviet Zone of Germany.
This would offer the cheapestf the total revenue) from the burter
tleal ever dreamed of. even with cheap manpower.
per vent charged companies Another threat of stlif com-
and the 3 to 30 per cent. petition to British and American charged Individuals. interests in Japan is the Soviet Union's offer to export Russian controlled North Sakhalin oil to Japan.
**huls would be 10 pir cent chepper than British and Amer! сла oll and there will be freightage advantages.
O.S. K.
Cons:quently the Kep be- tween the very poor and the very rich in Singapore remains much too wide.
Yet even in his reference to
of the expansion
the saelat services "planned for the next few year::" the Colonial
LINE
Have Pleasure in Announcing the Opening of JAPAN-HONGKONG-EUROPE
Fast Regular Freight Service
M.S. "ANDES MARU"
Sailing on or about 1st June
-for-
SINGAPORE, PENANG, ADEN, SUEZ, PORT SAID, ALEXANDRIA, GENOÀ, MARSEILLES, TANGIER, CASABLANCA, LONDON, ANTWERP, ROTTERDAM & HAMBURG.
Tanks Available for Bulk Oil Space for Refrigerated Cargo
For Freight and Particulars please apply to the
AGENTS:
In the elty area alone there are 150,000 people living in
111
The
Illegally constructed houses of hand, beliey, on the other that they must in plank and attap, corrugatel the long ruci turo is Eastern iron and old kerosene lins, Europe for a soutien to their huddled together squalia export problems.. insanitary kampongs with adequate access of drainage and without proper facilities for conservancy Q1 nightsoil
disposal.
There
$11
drains,'
and
Forced to do something about this shocking situation, the Government is now offering, at a nominal rent, a small pleez of land, provided with roads, comununal latrines bathing areas, and hardstand- inga, upon which squatters chit put up their own shelter, Even this is a temporary expedient. no guarantee that they will not be moved after ten years.
Very little reference in the report
is made to the growth of prostitution in
Singapore, apart from the explanation -that-it-is-not an effence-Yet-it- is well known that several thousand girls, many guder the age of 18, have been forced in- to this profession economic pressure.
through
Cotton Prices
- - -
In New York
The so-called "Eastern Com- mittee was set up many months ago nad. Includes representatives of all important Industries in the Bonn Republic.—London Express. Service.
The Rubber
Markets
Singapore, May 20. Prices of rubber futures closed today, as follows:- Number 1, rubber,
HONGKONG
SHARE MARKET
(From Out Correspondent)
This kind of exceptional cost is diminishing rapidly, however, Lin
the current year as the com- pany's own resources continue to develop.
Crude production is expected to be around 35m. tone and re- finery capacity, both there and overseas is being steadily ex- panded. By the end of 1954, Indeed, refinery capacity, Includ- Business done on the Slocking the new Aden and Australlan Exchange this morning amount installations, is estimated at 30m. cd to $244,432.20. Noon quota- tons per annum, which may be tions and the morning's transas-compared with 32m. tons in 1950, when Aufdan was last in full operation.
tions:
SHARES BUYERS SELLERS BALES BANKS
Asta Nav
Tik Bank... 3451 14a East Apla...
INSURANCES
1.30
10
1810 10.00
Docks, ETC. JC. Whet
N. I Whart
XD
Deck
Provident
11.30 335 300
Stal Dock. 1.008
Wheelock ...
LAND, ETC. 10 latel IIK Larid S'hai Land Realty
UTILITIES
מה ברלב
500
715 1500
Bre
DIVIDEND POLICY These encouraging ngures must not, however, be automatically interpreted US meaning that resulta
dub
to show spectacular Improvement.
As the chairman, Sir Williani Fraser points out in his state- ment, conditions in the world vil market have btcolit very 11.19 competitive once again.
Thus although the
company's 1130 edles in the opening months of
1953 show an
encouraging ex- bansion, they are being made
1850 200 5055 2:39 330 20000
at profit margins smaller that was the case last year.
It is natural enough, in the 246 | light of these conditions and the Iminense capital Expenditure 2.10.20 000 20 which the company faces, that C. Light (0) 10.40 1050 1009 » 103 the question of dividend policy
S08 F 10.42 should
assume particular in- 500 10.50 C. Light (N) 8.60 4.70 1006 6.00 portalice.
The raising of the 1932 bay- 18.30ment by 5 per cent to 33 ber
tent was hot,”
Electric
Telcphote 1820 182 600
per b. June
July
70% 7056-35
August
Number 2 rubber,
June
07%-60%
-Number- nibber;
Jurie
0482-0311
0214-031 70!
STORES, ETC.
61-63 77-02
Dalry
Watson
18.50 18.00 21.70
609 m 18,70 400 gr 24
Number 4 rubber.
June
Spot rubber, unboled Blanket grepe
No. 1 pale crepe
valled Press. LONDON MARKET
INDUSTRIALS
Demont... 18.30 1512
L Crawford 27.30 27.00
London, May 28. The rubber markel was steady, Prices closed as folloAgi-
COTTONS
Ewo
Number 1 rubber,
In Deitce bee it.
2016-211
21-212
MISCELLANEOUS
215-43
Yangtere 0.38 0.23
31-2112
July/September
October/December
2014.11
2014-24
July
August September
January/March
-Unlled Pros
NEW YORK MARKET
New York, May 20 Colton traders crowded all of today's netivity into the open-
New York, May 20. ing and closing transactions. In No. 1 standard elored today between time, the market 10 to 10 points higher with sales drifted simiessly in quiet deal- of 17 contracts, No. 9 standard ings.
contract closed-15 points higher A spurt
of covering by day with no 'sales reported. Traders traders at the finish cullidedl coupled the steady undertohe with
with the trend of other com- scattered trade demand. Closing at the day's best levels, cables.
modities and sleadiness af
Deelers reported Was 70 to 10 points
an higher, The
extremely quiet situation in the Tels: 38661 & 32369
opening feature came in this sale of around
and spot market. Prices of No. 5,000 bales of July by a broker
standard ribbed smoked sheels Chinese Freight Agents:
often acting for Dallas In-
were quoted at around 25% Tel: 26624. terests. The selling in July was
cents aTM pound. Prices closed put down to liquidation for the
as follows:- account of the
same mill in- terests which took up the bulk of the cotton put out on the
The Hong Kong Eastern Shipping Co., Ltd. the st
French Bank Building.
Great Eastern Hotel, 1st floor.
O. S.K.
LINE March and May deliveries.
Have Pleasure in Announcing the Opening of JAPAN-PHILIPPINE-H.K.-NEW YORK' Fast Regular Freight Service M.S. "KYUSHU MARU” Sailing on or about 2nd June- M.S. "TOKAI MARU” Säiling on or about 15th Juno
for
'KOBE,--NAGOYA, SHIMIZU, YOKOHAMA, SAN FRANCISCO, LOS ANGELES, CRISTOBAL, NEW YORK; BOSTON, PHILADELPHIA & BALTIMORE.
1
For Freight and Particulars please apply to the AGENTS:
wzi dut th
The Government weekly crop summary took a decided turn_{ for the better this week. Clear ing conditions with warmer temperaturca were favourable for planting, replanting, chon ping, cultivation and other form work in the main belt. Trac- ters in the central belt are going full binst day and night in. a feverish attempt to plant as inuch cotton as possible before June 1. Prices
closed as follows:
Spct
July
October
December
March
May
July October
34.20
33.77-93.70 39.80
33.83-33.00 33.00
18.57 Nominal 33.02 nominal -United Press,
Gold Napoleon Drops
July Heptember December Marchi May
July
No. 1 standard
24.03 bid
Chaltitbi admits, as substantial an increase
as could be warranted.
GREAT STRENGTH The group earnings cover was about sixfold. But the company's great financial strength—whileli, 233 2.45 1000 @ 2.40 together with its International Textile Coru. 3.10 3.10 2000 5.05 trading status, has enabled it to 13.000 a 819 survive Dr Mossadegh's blows-
2000 et 1.10 Bur
hns, as yet, to be the first con- sideration. Capital expenditura last year, for exemple, was £57m., largely met from retained profits. The balance was found from existing liquid, resources. leat which on December 31 showed some reduction.
But again, the proceeds of lost
Elom. do January's issue of benture stock will have since restored the position. It is fol unreasonable to hope that Chicago, May 26. except in the unlikely event of Technical replacement buying a catastrophic collapse
in the
and
Grain Prices
In Chicago
short covering steadied world oil market-the company grains and cotton, although the will be able furifier to relax its Capital ex- advances ran into hedge selling dividend policy. And liquidation following impenditure estimated this year proved crop news. At Chicago, at £75m-is likely to be financed wheat closed up 1/4 to 1 cent in part by fresh laques of loan and maybeans were up 1/4 to
capital.
The rese
reserve position is 1-1/2 cents. Prices closed
strong-the present total of follows:-
£07m. 113m. Including
reserve. suggesting, Indeed, that some adjustment
Whest-price per bushel
vary s
general
present
lokal would not be out of place in the £20m. odd of Issued Ordinary capital. The Financial ~Tling
24.00
24.43
34.15 nomina) £3.99 nomini
13 housit
Spbi July
23.45 Kamina) 23.10 BuiltIBI
September December March
2,1012-21 2.13%
2.201
21.01 nominai
Corn
1.4m
„No.0_8 andard..
July September Becember. March MAY July
24.03 hondrial 22.95 MURATA:
27.06 nominal United Press.
LONDON
TIN
MARKET
London, May 26.
Spot July Belitember December March
RYD
July September Dala
The tin tracket was sleafler July - today. Tumover was 40 tonr, Including 50 tons for carh. Prices closed at the end of the official torning session as follows!
Spat n, vers
730
7814:31
September
Boybeans
#pai
Aukutt Reptember
5251-2.65
77749 pollers 700
230-712
November
Jamitry
Match
Spot Alt, sellers... 34 But the t Three-manika 154. buver
Three-months til,
Bu done at
· Selllemet
--Unnad Press.
JAPANESE BONDS
London,
New York Sugar
Futures
New York, May 26. World No. 4 sugar futures closed today 9 to 3 points lower with sales of 191 contraéta. Do- mestic No. 0 closed 2 points higher with sales of 30 contracts. The activity in both contracts was light while traders paused to the foreign political appraise
and awaited the raw news
Pricea market developments.. closed as follows:
Contract No. 4 (world)
July „New York hoursiper 100 1b. Back | Reptember. $13.20 nominal-United Press.
October
Exclunge Rates
3.01
3.71 nomina)
33 nominal
2.50 bid
3.52 Paked 3.00 asked
3.00 arked 3.70
May
2G.
Jattunty March May July Beptember Epät
Contract No. O
01
100
1224 tra. dollár <per *11:25
Bierling note (par·21)
Bba nominal
of 1030)
18.00
July
마
United Presa
||Niam ficala_(per 100) var. 31.00
Singapore: (Biraits)
FIQ plasties (per 100)
1.825 0.67
Reptember
pot
$57 Nominal
inited Prosa.
Paris, May 26. The price of the French gold napoléon dropped 60 frader to- day from 3,000 to 3,040 franes. Japanese borida The Hong Kong Eastern Shipping Co., Ltd. The bincit
Inarket
currency rate French Bank Rullding.
Tela: 38661 & 32369 on the dollar compared with the
also dropped-truth 414 to 410 "D" (s. at 1010) (53. 0119023 /
legal rate of 300. The drop was "D" (58) 61-824) belloved to be explained by ME (6 Tel: 20024 speculators taking their pronta. Consola
-United Press.
it fomob
"Chinese Freight Agents: Great Eastern Hotel, 1st floor.
Históri¿ Why QuNb-TJH [8h lokal | July uhonicle exthopae fonrkets September ninenilik, bt, the following Tick:
November March
130% Indorieplan guliders per 100) 23.80
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEIV YORK, BOSTON, BALTIMORE & PHILADELTINA via SAN FRANCISCO, LOS ANGELES AND PANĀMA,
hi.v.
"LAURA MAERSK” m.t. PORUA MAERSK"!
..JULDA MAERPKC”
NEXT SAILINGS
ARRIVALS FROM U.S.A.
M.V. "ARNOLD MARRBIC" m.. DA MÄENSR"" m.v. "CHIASTINU MAERSK”
June n June July 2
17
June 1
June June
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. 20461
Dates and rotation subject to change without, notice.
At liberty to proceed via other ports to lend/discharge catgo.
EVERETT
T LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calculin and Chittagong..
"REBEVERETT”---
Arrives Sails
May 20 from Manilu. Miny 29 for
"LENEVERETT"!
Arrives Salis
Singapore, Perang,
Rangoon, Chittagong Calcutta,
June 1 from Singapore,
June 2 for Kobe & Yokolama.
(Accepting cargo for transhipment - Köbé/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- Chlua, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Perts. "NORDSTJERNAN”
Arrives Solla
May 31 from Singapore. June Moji, Kebe, Osaka, Nagoya,
Shimizu & Yokohama.
"STAR ALCYONE”
Artives June 4 om Japan.. Shily
June 5
for Singapore, Port Swatten. ham, Colombo, Bombay, Karachi, Khorramshahr B Babrein.
(Acceping catgo for transhipment Kohe/Fusan 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