HONGKONG SHARE MARKET
From Our Correspondent)
Business done on the Stock Exchange this morning amount- Ed, to $471,983. Noon quotations and the morning's transac-
ilons:-
SICARES BUYERS RELLERS SALES BANKS
V Pank: 1405 Es Anta
INSURANCEs
348
14 d. 149
Criton
230
Union XU
10 700
HR Fire XD 139
SHIPPING
Asta Nov. 1.30
cks, ETC.
N. P. Whart
Piny.dent
312
1.20 11.405831130
20
Shal Dock. Wheelpek
71⁄2 700 420 @
LAND, ETC.
K and
7.63 765 900
50 2016
.246
Sami Land
Tram..... 22.10 22 30
TULITIER
k Tim
(XD
2735
71
THE CHINA MAIL, FRIDAY, MAY 29, 1963.
Mission Will Investigate Rubber Industry
(By Norman Crump. Sunday Times City Editor)
A fact-finding mission is about to go from tho United Kingdom to Malaya.
Among the questions to be considered by the mission are the incidence of taxation on the industry and ways of attracting fresh capital for development.
It is now estimated that 70 per cent of the Malayan. industry's proflis are taken in taxation. To that extent· the answer to the second question, as well as to the first, is obvious.
All these figures suggest thut
There are, however, the wider likely to be less than had seemed questions of supply and demand.) probable. prices and costs. The peak price) of rubber In 1951 was 74d. per lb., and last week's price was 21d. While the former price. was ab- 2.3norinally high the latter is loo
tow for comfort.
it would not take much to restore the Malayan rubber industry to an even keel.
Now Malaya is in the front line of the light against Com- munism, arti a reasonably Again there is now the cum- prosperous rubber industry is an petition of synthetic rubber.
To-essential part of Malaya's de- day, United States consumption fences. Co-operation between and the c. Light (0) 1015 10.60 1791 10.00 costs of three-fifths rynthulle the United Kingdom
to two-fifths natural and the United States over rubber prices United States accounts for three-and costs would be one way of ths of the total world consump-achieving the maxinum defence tion of rubber of all kinds,
against Communism at the least possible cost.
38 t lo 10 10.0)
le Lime (N) 1.70 ans 1500 20 0.70
24 21.20 5070 2,24 Electric..
Mgear Ele.. 10 20 Toleplangin .. 10.40
INDUSTRIALS
Cement. 13.00
STORES, ETC.
Dairy
Watron
...10.20
..... 21.10 Crawford
COTTONS
3000 24.10
52
18.40
Nevertheless the nutlook for natural rubber is much better 1001 than these figures suggest. As the price falls, many amall- 400 13.00 holders abandon tapping and -TRO #4 10
switch over to other crops.
In 1951, the year of peak prices, 10 2400 19
2100 Indonesian sinnli-holders
pro- 2:0 14 12
duced 591,000 tons but In 1952 They produced only 440,000 tons.
GROWING CONSUMPTION
215 Textile Curp. 3.15 52ú 4009 » 5.15
BRITISHI BELIEF
The American synthetic rubber Industry is still under Govern- ment control, and, although it is to be handed back to private enterprise, the trunsfer may take some eighteen months.
1952, the price of in March, synthetic
rublier was reduced from 20 cents to
to 23 cents per Ib.. where it now stands, For the American fiscal year ended June
Production Riso In Japan
Tokyo, May 28. Showing a 2.1 per cent increase from March, thé mining and manufacturing Indusies prodpation index
"Abril" stood st
The
PFILE the
secarding to the Board.
Index eight per evernes stinthis lifex for
calendar year. Woods rose
Fix
per cent and téramica by 9 per cent from Mafch, while the bulgut of öthéj esmitdalites showed alight decrease.France-
Presse.
E
Foreign Capital In Greece
New Law Drafted
Athens, May 28.
A new draft law concerning
the Investment
foreign of capital in Greece is now ra- poited to be ready for approval
JAPAN COTTON SPINNERS ASK
GOVT. ACTION
.!
MESSAGERIES
PO. Box 03. Queen's Bldg.
M
MARITIMES
Tel: 20051.
M
PASSENGERS/FREIGHT SERVICE
Gjutwarda **FELIX ROUSSEL”
Leaves Marseilles
9 June Homewards
Hongkong "FELIX" ROUSSEL” ..24.29 July
Hongkong 10-11 July
Fer Manila
·Flue Marullos
25 August
Via Yokohama
via Marseilles to all Mediterranean & West Africa porta. via Djibouti to Madagascar.
Osaka, May 28. Dissatisfied with trade results under the re- cently concluded Anglo-Japanese payments agree- ment, the Japan Cotton Spinners' Association has urged the Japanese Government to take more posi- tive action to expand textile exports to Australia, "MONKAY" Ethiopia, East Afrlen and Commonwealth coun- tries generally.
Duwarde
"MEKONG"
Homewards "FEI-JO"
· PŘEIGHT SÉRVIČE
Leaves --Cutane --Kalled
·Hunburg-21 May
Leaver
„Keelung-0 June
"SILVER SANDAL" ..Keelung-20 dilly
"No concrete measures have yet been taken | MONKAY" by British Colonies to relax import restrictions on Japanese goods,"
"MEKONG" the association complains, "although this policy was promised at the time the agreement was concluded.".
The association has demanded specifically:-
I-That restrictions be
cased
on entrepot trade through Aden, vin Singapore
to
and Hongkong.
exploit the profitable Ethioplan and East African textile markets.
ment seck authority to establish 2--That the Japanese Govern
Japanese consulates In all British Colonies which hove
and
which
by the Minister of Co-ordination een requested by London to
restrictions on his return from the United relax States. The draft law is re-
offer any degree of hope for ported to make the following Japanese textile sales. provisions: ..
13
(1) Special profcetion will be
granted to foreign capital which invested δει "productive" enterprises,
L.c. projects for extending the county's national Production;
(2) Enterprises instituted on the basis of the new law can- not be nationalised, but in the event of war the State can use the payment of a just indernnity,
MUST BE TWO-WAY
3 That
First Jap Passenger Vessel
The
New York, May 28. Japanese freighter Nippon Hikawa Maru, of the Yusen Kaisha Line, would be extensively reconditioned for operation as a combined passen- ger-enrgo ship in the North
sources said today. the Government America-Japan servier, Irade
would be
Ilangkung
For
4-14 June.
Japan
1-10 Joly
Зарла
For
* June
T
我每
Hongkong
21 - July --Keelung-31 July 1 - August
† Saigon, Marseilles, Algiers, Oran, Tangiers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk.
SUBJECT TO CHANGE WITHOUT NOTICE.
MAERSK LINE
FÁST FORTNIGHTLY SÈRVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
#
June
June July 2
11
ARRIVALS FROM U.S.A.
MY. "ARNOLD MAERSK” m.v. HUDA MAERSK" M.V. "CHASTINE MAENSK"
June 3
June D
June 18
negotiate directly through the
io,y, "LAURA MAERSK” Sha particularly
M.V. "OLGA MARRSK” first the highest channels. with Australia, to if the prescrit Japanese
M.V. "HULNA MAƐNSK" to return ንዑ bans on Japanese textiles and so msenger
de since the start help improve Japan's highly of the Second World War. unfavourable balance of Trade She would operate between with the Commonwealth.
Yokohama, Danka and Kobe to the United States West coast "It must be understood," a ports of Portland, Seattle anti
The
Meanwhile the world consump 30, 1932 the cost of production † the enterprises' facililles against spoksman for the Association |
Ac-
tion of rubber is growing. Feording to an American estimate,
Exchange Rates per lb.
Business was done in the focal
unoticial Exchange unrket this morning at the following ratest- Uy dollar (per $1) .................. #100125
15 ኪ/ Sterthur note (per £11 ... Indonesian guilders (per 1001 27.50 Siaticals (per 100}
Aingepure (Struite
FIC plastres (per 100)
O. S. K.
31.00
6
has been estim
estimated nit 23.9 cents gures are taken rubber was tons. This year and next. It is synthetic
sold at 5
at a loss.
of the “The.kernel maiter is that some British rubber interests
sald, "Uat Jupan needs market::
at least as urgently as Britain Maru would be
docs.
withi passenger (3) Enterprises cannot mono-
Trade must be two-way. accommodation for 34 in first polise production of any article;
"With the best WI in the class and 200 in third class.
• (4) Special
Before the permits must be world, Japan cannot increase its
war she had ne- obtained from the Ministry of Imports from the sterling area commodation for 76 in the cabin
antcrprises;
rocal selling also.**
belleve that if the synthetle priceCo-ordination to establish such unless there is scope for recip-/ class, 60 in the tourist class and
likely to be over 2.5 million tons and will rise to 2.7 a year, million tons in 1957.
Reverting to this year, with were restored to 26 cents per tb., production falling and consump-natural rubber would be able to tion growing, surplus rubber compete on terms which would stocks at the end of the year are meet the need of many rubber
estates.
LINE
Have Pleasure in Announcing the Opening of JAPAN-HONGKONG-EUROPE
Fast Regular Freight Service M.S. "ANDES MARU"
Sailing on or about 1st Juno
for
SINGAPORE, PENANG, ADEN, SUEZ, PORT SAID, ALEXANDRÍA, GENOA, MARSEILLES, TANGIER,
CASABLANCA, LONDON, ANTWERP, ROTTERDAM & HAMBURG,
喀
не
Tanks Available for Bulk Oil· Space for Refrigerated Cargo
For Freight and Particulars please apply to the
AGENTS:
The Hong Kong Eastern Shipping Co., Ltd.
French Bank Building.
Great Eastern Hotel, 1st floor.
(a)
The
INDIAN PROPOSALS
300 in the third class.
She was said to be the only survivors of the pace extensive Japanese passenger fleet. The Association decided to
the sources said, the But, "withheld a reply" to that is, vessel's conversion for patenger politely refuse a proposal by use would not reduce her cargo the chief of the Indian delega- capacity. tion to the International
Cotton
Present plans were to keep Conference ak
(Mr her Buxion
regularly scheduled freight service, making Ave Lalbhai) to Japan: ICasturbahal
meeting to
ол
(6) Imports of machinery are to be considered as Imports of foreign exchange: Now it is dangerous to be dog- cannot be re-exported until companies capital matic about the costs and prices of Government-owned. Industries. one year from the time of its It is much wiser to endorse the wards, the companies may re
importation, From then on- recent injunction of Mr John L. W Collyer, President of the B. export one-tenth of the original
F. Goodrich
the capital per
Twelve per "Until the Company: Government-owned facilites are
cent of the capital can also be
made three-party disposed of, maintain the selling
(7) The
here, the ece "expand cotton transactions and several appearances Bank of Greece
first being in February 1952. prices of Government-produced
undertakes to deposit abroad сесту
year
Mr Lalbhal made
the Japanese cargo ships assigned in foreign exchange for servicing suggestion recently during a the. Now York run. end is a guarantee of the im-
vessel was ported capital;
rubber at levels which will re- cover full costs, and return a reasonable profit on the invested capital."
also
ROOM FOR BOTH
This recommendation does not answer the question, what are full costs? They may now be less than 23.9 cents, for generally speaking alcohol-based rubber.is more costly than petroleum-based rubber, and the cost of alcohol hns recently fallen. There are
suggestions
ons that lately the American synthetic industry has been earning a profit.
Once the industry is restored to private enterprise, all theso will answer themselves. questions
Private owners will see to it that they sell at
remunerative and
will
mean
thin. straightforward competition be
and synthetic. tween natural Meanwhile, if
If production tundi consumption maye. on the lines suggested above, there will be roam for both kinds of rubber at reasonable prices.
This, however, 1 looking eighteen months ahead, and the
Interval, intervening
short although It Is, needs to be bridged.
'UP TO US.
Tels: 98601 & 82869
If there lap temporary drop in Chinese Freight Agenta:
sales of synthetic rubber, ane Tel: 26624. expedient would be to reduce the price. That would be wrong, and my Information is that it is unlikely.
O. S. K.
LINE
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” Sailing on or about 15th June
for
KOBE, NAGOYA, SHIMIZU, YOKOHAMA, SAN FRANCISCO, LOS ANGELES, CRISTOBAL, NEW YORK, BOSTON, PHILADELPHIA & BALTIMORE.
For Freight and Particulars please apply to the AGENTS: The Hong Kong Eastern Shipping Co., Ltd. French Bánk Building.
An alternative would be for the American authorities to resume stock-piling, although that course would meet with opposition. The simpler emirse, perhaps, would be to close down some of the synthetic plants until demand revived.
annum.
end the United Kingdom to hold round trips a year.
Tho ilikuwa Maru
exported each year as
As profits; a
to
a consistent sum in
uvold wasteful competition. when she was one of five
visit to this country,
The twin screw
Japanese textilo representa- built in Japan in 1930-Reuter. (8) Special tux facilities aro
tives argued that its too early t be granted to such enter-hold such conference after the prizes;
Buxton meeting and that, in any event, the international must remain too unstable for worthwhile discussion until the
(9) By special decree cortain banies will be allowed to receive foreign exchange deposits for a pericd-not-longer-than-lx months and at an interest rate not higher than cent per annum; be granted to Greek shipowners (10) Special facilities are to for the transfer of their ships
eight
per
under the Greek dag.-Router,
The Rubber
Markets
Singapore, May 28. Prices of rubber futures closed today as follows:- Number 1 rubber, per ib.
June
село
Korean situation Is "resolved one way or the other.
Meanwhile the Cotton
nation treatment to the import Spinners' Association is asking that Syria accord mast-favoured- of Japanese cotton cloth.
Grain Prices
In Chicago
Chicago, May 26. Wheat closed off 1% to 1% cenis and soybeans were up to 1 cent. Prices of grain futures closed as follows:
Wheat-price per bushel
Syria, which is now conduct ing trade talka with Japan, has already agreed to grant this treatment to all Japaneso ex-Spot poris except cotton cloth.
Juty September December
Corn
BRITISH COMMENT March (1954)
2.07 nominal 2.0771-2.07 2,101
2.151-9.10
2219
1.041/
13818-% 1.333. 1.4TY
1.503
14412 148-1.204
701-1
Manchester, May 28. Spor Relaxations which had been July announced so far in the restric-Beptember
December Honk on Import of Japanese March (1954) goods into British colonial fer- Iro ritories do not incrense very [Juży
the scope for cotton September
Oats from Japan, says the
July Guardian trado
September
Boybeans He was commenting on the Spot the Japan Cotton July nows that Spinners'
Association suggested Augint that a mission be sent to the September
| November
2.45-2.6414 sterling area to promote cotton | January (1054)
March
2.073% textile experts.
New York flour-per 200 16. Sack
7052-24
July
70-6-12
greatly textiles Manchester
August
071-A
Number 3 rubber. Jung
044-12
001-0215
Number -rubber, June
Nuntar 4 rubber, June
Spot rubber, unbaled Blanket crepe
No. 1 pale crepe
Valted Press. LONDON. MARKET
London, May 28. The rubber market was in- active today. Prices closed as follows:-
Number 1 rubber, in pence per 19., 20%-21-United Press.
All this is a 'matter for Ameri- can decision. For British rubber 10
NEW ХОДК МАПКЕТ
New York, May 28. No, I standard closed today
поп-
2.83% 2.05-1.05
AIA
2.09-2.6315
2.019-9
mo instances relaxations $1320 nominal-United Prens, GOTT.O have been
confined to taxule goods, in others increased fnclities have been given only for a few types of texilies and in others again a specific and by no means generous mit has been set to the total value of Japanese textiles which may be imported.
Japanese grey cloth now ac to 20 points lower with counts for about two thirds of
companies the important points spies totalling 14 contracts. the top of British grey cloth No. 3 standard closed nominal-Imports, but this trade is now Iridged is comparatively small, ly 10 points lower with no much smaller
are that the price-gap to be
only
and I at the worst should exist for a limited period. One Thust, assume that there is
non trade recession, and
sales reported.
Scattered selling in futures
than in earlier pest-war years
exported However Japan was coupled with a lower stockmore cotton piece goods, in the market trend and continuing
first quarter of this year than uncertainties in
the foreign either the United Kingdom or political situation.
India.
Cotton Prices
New York, May 28,' Prions of collon futures closed {today as follows:-
Spot
October December
Mincch
May
July
October
33.00
33.47-35,48 23.47
33.68-33.60
33,42 nominal
.88 nominal “United Press,
NEW ORLEANS MARKET
Apot
Gotaber Docomber March
July
October
33.00
33,45-33,40
33.00 hid 13.61-33.42
33.48 bid
23,47 blu
32,13 hid
United PreIS,,
no fresh outbreak in Malaya.
It follows that holders of shares
received Lancashire traders In sound rubber com
In the spot market, dealers companies should continue to hold and see things
reported a dull situation with with mixed feelings statements through. But, even
even with their
consumers looking on while by the now Japanese Premier shipment offerings were in that Japan was not in a post- tempting yields, running in many
of small supply
tion
threat cent and
to create and rather high cases up to 30 per higher, it would
competition priced. No. 1 smoked ribbed strong take a brave
economie sheets wore quoted today at 25 urid man to buy rubber shares, except
that the days of cheap LONDON TIN Japanese cenia a pound. Prices closed as
labour wore gone, as a small section of a widesprend
follows:-
the trade culler continued. portfolio.
JAPANESE BONDS
July
No. 1 standard
Boptimber Decobar. March (1954) Mas
Tel: 28624 Consols
London, May 28. Japanese bonds
of 1800) 02 (48. or 18073
08 40 (53.
of 1010 13146 "D". (§¤, 2 of 1924) 100 "E" (53⁄41⁄25, of, 1030) · 13834 012 Unlled Press.
May
Tela: 38801 & 32869 Chinesɓ Freight Agents. Great Eastern, Hotel, 1st floor."
No. O standard.
July Beptember December Marets tipsi)
United Frem.
At the moment Japanese
Britiati
ED-
MARKET
grey cloth prices do not pea greally below those for
London, May 28, goods The tin market who pasier. comparable though Jaban lias à marked turnover was 160 tons incluu- adveninge in Anished cloth. Ing. 55 lons for cash. Pricos
"Mayements
Japanese closed at the end of the offelal quolation
are not al-maining session as follows: However, ways in the direction which Foot Up, buyers cunipelitata opeet and there and id, collera knjige fla are grounds for Believing that dona at 70-733- they are not always determined Three months un sellers s by, or proportionate to, changes Tuition done at
Bettlement in costs."----Neuler,
Three-monidan · Lin,
מתעוות
Intted Press.
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.
Tel. 20461
Dates and rotation subject to changa without notica.
At liberty to proceed vix othée parts to toad/dlscharge cargo.
EVERETT
LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo China, Slam, Malaya, Rangoon, Calcutta and Chittagong,
"REBEVERETT”
In 'Port Soils
Loading
May 29 for Singapore, Perong,
"LENEVERETT”
Arrives Salls
Rangoon, Calcutta.
Chittagong
June 1 from Singapore, June 2 for
Kabe, Oraka, Moji, Nagoya, Yokohama & Tokyo
Uny.
(Accepilog cargo for transitipment Kobe/l'usan and Hobe/Okinawa)
EVERETT STAR · LINE ·
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Peralan Gulf Ports.
"NORDSTJERNAN"
Arrives Salts
•
May 31 from Singapore. June Moji, Kole, Osaka, Nagoya,
Shimizu, & Yokohama,
"STAR ALCYONE” -
Arrives Sails
June 4 from Japan. June
6 for Singapore, Port Swolten- ham, Colombo, Bombay, Karachi, Khorramshahr & Bahrein.
tAccepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION SIA
·`Quech's Building, Telephone 31206. Chinese Department: Telephone 28293.
BUSINESS REGULATION
ORDINANCE 1952
Copies of the prescribed -Forms 1(a)](b), and 1 (c)
Now On Sale at S. C. M. Post, Ltd.. HONGKONG, AND KOWLOON..
TEN CENTS EACH