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་
THE CHINA MAIL, WEDNESDAY, JUNE 3, 1958.
Oil Share Prospects On The London Stock Exchange
S. AFRICAN
TRADING CONDITIONS
Cape Town, June 2. The Standard Bank of South Africa reports as follows tracliti conditions In Union:
on
the
itia-
Although demand for mondsscas.ng slightly. sales of recent sights in London and Kimberley continued Gatistar tory. The Union's exporta diamond in January to March BA £0.020.082 compared with, SA C8,000,101 in the first quarter of 1952.
Union's sales The minerals excluding gold diamonds in
were
10
rose
L
Tubeless Tyre In Britain
London, June 2.
of
The It British lubeless tyre
for cars and commercial vehicles has been announced by the
|
(By Norman Crump, Sunday Times City Editor) During the past three years commodity prices have risen almost to the skies, and have since come down again, Many a company's accounts bear wit ness to the resulting disturbance.
Thus only a few days ago J. and P. Coats showed a drop in profits from £8.1 to £3.9 million, entirely explained by the need for writing down stocks by £5.6 million.
British Rail Schemes
Big Improvement In
Services
The Railway Executive has been authorised by the British Transport Commission to proceed with three major improvement schemes, at a cost of nearly 4m, which will lead to fister passenger und freight services on
several main lines.
the widening of the east const The largest of the schemes main line by the addition of two more tracks between Greenwood signal-box and Potiers Bar sta- tion at a cost of £1,750,000.
will link up
This
Yet, amidst all these violent fluctuations, one com. modity (apart from gold) has remained relatively stable atruction in price. This commodity is oll.
Abadan
In
MORE COMPETITION
con-
So far as world demand for oll went, there was a boom during
the two years following the out- break of the Korean war.
that
year's time.
>
shares yield 0.0 per cent, but even
with
P.O. Box $9. Queen's Bldg.
INTERNATIONAL MESSAGERIES
FAIR OPENS
IN TORONTO
Hong Kong An Exhibitor
Toronto, June 1.
M
Outwards
MARITIMES
Tel: 20001.
M
PASSENCERS/FREIGHT SERVICE
**FELIX ROUSSEL"
Homewards
Leaves Marseilles tongkank
June
Hongkong *FELIX HOUSSEL” .2423 July
(0-21 July dine Murselffer
25 August
Fer Manita
Via Yokohama
via Marsellies to all Mediterranean & West. Afrlen porta, via Djibouti to Madagascar.
Outwards
"SILVERSANDAL "MEKONG"
The world's market-places were jammed into "MONKAY 263,000 square feet today as 1,400 exhibitors from 27 countries, including Hongkong, unveiled tional products ranging from cocktail shakers to "PEL-HO hair drivers and electronic appliances.
na-
The External Affairs Minister, Mr Lester Pearson,
officially opened the 6th International Trade Fair.
Japan, South Koren, Ireland, the and Austria were exhibiting for widening and station recon- the first time and every inch of scheme at Potters space has been snapped up by
other Bar authorised last year of ne
nations trying to overcome estimated
an adverse balance of trade with cost of more than
Canada, £500,000.
Nearly Lim, is to be spent on the modernisation of Crewe North motive power depot, and about the same sum will be spent on a new motive power depot at Theinaby, brough, mainly to handle the growing industrial traffic of the north-east.
Dear
NEW TUNNELS
At least 44 new industries and more rpics agencies many
the established in Canada In
resulted past five years have from succeESCH at similar past folrs.
and
INTERIM LICENCES
IN SPORE
Construction machinery Middles-
Singapore, June 2. Lools were the biggest display- ers but there were also clothing, of wheat flour under the Inter- No quotas for the importation glassware, household furnishings,national wheat agreement will be delicale woodernfts from India. issued to Malayan importers for Ashing equipment, shot-guna the next wheat year starting from
in
and steel vauita.
Malayan Importers, however, for leences to con now apply import wheat from the free
for importation
A Dutch invention, expected August 1953. to attract the crowds, performs
duties, including the shaking | no of cocktails.
An electronic brain, originally mar intended in the United States July for work on guided missiles, is be on its first display for use in in-holders for dustry.
BIGGEST · DISPLAY Canada's exhibits, machinery responsible for its industrial
floor space, The United King-
with their slightly lower yield my viaduct, except for 21⁄2 teeded exports by
Sheit shares look more attractive.
New Delhi
May Relax
Import Ban
Between 300 and 350 trains a day pass over the pair of nes through the Hadley and Potters Bar tunnels, and the addition of another line in each direction over this sirgtch will provide a continuous four track route throughout the suburban area.
Other exhibitors
market.
Homewarda
"MONKAY" "SILVERBANDAL"
"MEKONG"
FREIGHT SERVICE
Tenyen
•Paraje -Bnited Curape -Nailed
.Hamburg-23 May
LATEX .Krelung - June Keetung-10 July
Jangkang
For
14:16 June 28-29 June 18-19 July
Hongkong
"Гарад
Japan
Jayan
K June
#2 July
Keetung-26 July
25 July
10 Au
...Keelung-August
for
† Saigon, Marseilles, Algiers, Oran, Tangiers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk, SUBJECT TO CHANGE WITHOUT NOTICE
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA. NEXT SAILINGS
m.v.
M.Y.
June
June
17
July
?
ARRIVALS FROM U.S.A.
1 Port flurry B-15
Jute P
June 14
"ANNOLD MAERSK“
"LAURA MAÈRBR" after
m.. "OLGA MAERSK" Interim. licences will Issued to existing
m.. "HULDA MAERSK" quota Importation before the end of July.
Notice of the new arrange- ments was given by the Colony's Controller
Imports and Exports.
The changes
were brought because Britain the largest importer amoor
of
.
international
NO SERVICE OF LOANS
4
This suggests that all shares is that not only does Shell yield should have certain attractions a fraction more, but its com- for the investor
who wants mitments are spread more widely, stability. But it ell prices have whereas Anglo- Iranian atiil❘ remained stable, this is partly draws its all from around the due to the way in which Ameri Persian Gulf. Thus Shell may can producers hold back produc-be a better "political risk." *** |tion" through their system of
TRUE COMMENT "pro-rationing."
Broadly
roadly speaking, the and
The Turmah dividend is 15 per of oil in bighly- January andumption
cent compared with 21 per cent varies February were SA£8.1 million industrialised countries compared with SA £7.3 million with the general state of trade, pald in each of the two previous Ordinary capital in the same months of 1952. At the moment it would be true years on an
since Increased by 50 per cent, The widening of the east coast Sate-of
from to say that there are. signs copper rose
In effect. therefore. the main line, of which a preliminary un vil surplus, except in the case dividend has been increased from announcement 5,230 jiort tans worth SA £1.5
was made of aviation spirit, where there is 21 to 222 per cent, million to 7,385 short tons
March,
the 1932, will involve SA £2.0 worth
million and still n
In view of Burma's fargo in-construction of new tunnels at One
ion of this is that! substantial increases were "t:=
terests in both Anglo-Iranian and Hadley South, Hadley North, and ore the refinery capachy lost when flected in figures for iron ore
reconstruction of of the Persian authorities seized Shell, there had been hopes that Polters Bar; and manganese are. Sales
Wood station; the chrome ore and bestos were
has now been regained the dividend Increases announced ladley
these last two companies abolition of Greenwood signal- by below fiotals for the first two by the opening of new refineries would be more fully reflected in box; and an extension of colour- months of 1952; the volume in Great Britain and elsewhere. Burmah's dividend.
Hight signalling and track cireult- Great Britain now hus. fact, of coal sales reflected a slight
The true comment is that theseing arrangements. decline but value
from
for the first time, a surplus of res higher dividends will only come SA 23.3 million
SA £2,7 1ned oll available
for export. By wwwzll
inte
This route, which is used by income for the Burmal's million.-Reuter,
Again, whereas in 1959 and 1981
This holds out the "Flying Scotsman" and other growth, took up over half the about in current year. world consumption of oil was In- crossing at the rate of 12 per possibilities of a higher Burmah famous expresses to the north, domn was the second biggest
dividend in
has at present four or more tracks exhibitor, Germany, whose im- signatories of the cent year, in 1952 the increase
Meanwhile, et 2%, Burmalt for 22 miles from King's Cross to poris from Canada last year ex- wheat agreement has was only 5 per cent. A few
agreement, which more than renewed the months ago a pessimistic vlew
from Greenwood box to ve Umes, is third in a deter-expires on July 1.--United Press, was taken of the 1953 rate of
Putters Bar, and for many years mined bid to gain her prewar increase, but some people ne
this has proved a bottle-neck market. The United States is now feeling more hopeful.
restricting movement over the the fourth largest seller. whole line.
The biggest single display was a combination drilling and boring machine. It is so heavy that I sagged through the con- crete floor when it was set up
Athens, June 2. in the automotive building.
No Belgium
provision for service of and France both emphasised
pre-war foreign loans has been machinery. The Netherlands and Austria special-made in next year's Greek bud- ised in textiles and furnishings, et, according to Mr Papayan- of Greek Minister This will enable more trains to sweden, Japan, Spain, Finland,
were India, nis,, the
Finance. be run, will improve punctuailty South
The only loans that will be Denmark, Africa, by reducing the extent of re- There arc
(1) the Import-Export Bank Colombia, Guatemala, Hongkong some are delayed by the battle- and Pakistan.
loan of 14 million dollars the Government of India may percussion on other trains when Jamaica, Norway, Switzerland serviced will be:
for the liberalises its policy
and will neck
will as at present, because of
Austria had to order a rush granted to Greece in 1946, latter half of 1053
provide for
(2) the U.S. Treasury loan the planned develop shipment of a second consign- the improved balance of payment of Hertfordshire, where the ment of exhibits when the first of 52 million dollars given ments position.
by stations was tipped by a loading cranc- population served
Greece, to help her
purchase As Japan la
stockt. a Sterling Area from Hadley Wood to Royston and grand planos, oil paintings American Army surplus country for all practical រ៉ន
-Reuter. to be doubled. It and other displays toppled Into expected 23 flecnets for purposes and
will take live years to complete Toronto harbour.-United Press. imports do not mention the
the scheme. on which work will country of origin there are begin next spring. prospects of more Imports from diesel particularly of
MODERNISING DEPOT Japan, engines, machinery and ment for cottage industries.
Modernisation of the Crewe In this connection there is motive power depol, which MOSTLY SATISFACTORY Interest in the visit of Mrs Yoshi- services between 120 and 150 zawa, former chief of the General locomotives, has been designed This is the background against Affairs Section of the Foreign to. Improve the day-to-day which the latest accounts of all Exchange Bureau of the Bank of inspection and maintenance work sold here that Australia is keen payable to the order of a speck companies should be judged. On Japan.
on the large express locomotives the whole they are satisfactory. Mrs Yoshizawa, who is arriv-kept there. The tracks in the
the on establishing free convertibility fled person, loans and advances Anglo-Iranian is still feeling the ing this month, will go to New old sheds, which date back nearly stimulate a greater circulation of term treasury bonds and on other Mof currency which would In current accounts, on short- effects of the loss of Abadan, Delhi to meet Ambassador 100 years, tire so close together and the gross profit of this group Nishiyama, who is reported to be
Belgian public stock. This is that this work has been diflicuit. private capital among nations. fell from £52.2 million in 1951 coming to India to open a busi- The new works to be provided Mc Cormack, who is here on effective from May 21. Other
"observation" visit, rates of the National Bank remain The Bank Deutscher Laender to £47.1 million in 1952. Never-ness office of the Bank of Japan include two round-houses built a five-day
theless the 1951 dividend of 25 in Bombay and to investigate around 7018. tumlables, which added that Australia was
attract unchanged. has announced that it has au-the
foreign per cent was supplemented in economic and trading conditions o
for 58 ing foreign capital for her own thorised West German
bonus of 5 per in India and the possibilities will provide
The reduction is linked with locomotives to
berthed large development programmes. be trade banks to purchase D-mark 1952 by n cush
of promoting Japan's foreign
Double taxation had been the imminent issue of a loan, by acc:ptences drawn on persons
simultaneously.. The market had been hoping trade.
abolished and attempts were the Belgian Government and or organisations in Austria. The
Meanwhile, Indian business-
The Thornaby depot will re-being made to make the repatria- with the latter's Intention to acceptances must originate from for more, but the chairman sald
while a more men during the past week were
place the 70-year-old depots at last week that,
lan of profits casior all the time, reduce medium and long-term exports from West Germany of substantial distribution would be cheered by the agreement
interest rates.-Reuter. Newport, he added.-Reuter. West Berlin to Austrlu and SUL
India and Middlesbrough and mude payable with the Austrian warranted, it still seemed wise to signed between
India will and will be situated between the National Bank or with a com- conserve the company's financial Egypt under which
become chief buyer of Egyptian
marshalling yards and Newport
Thorn merelal bank at one of the fol- strength.
coflon. Egypt is expected
main lowing places: Vienna, Bregenz, Yet, taking the parent comony crease purchases Indian Middlesbrough road, opposite the
Innsbruck, alone, rev
and Eisensindt, Graz,
goods to adjust the hitherto ad- Stockton racecourse, Klagenfurt, Linz, Salzburg and undistributed proats are
£99 verse trade balance. The main depot, which will employ a staff PENINSULAR Villach.
of compared with an issued feature of the agreement is that of 1,000 and have an allocation million, The discount rate was fixed at capital of £33 million,
India will pay for a certain pro- 229 locomotives when completed, There is also
from a special con- portion of her purchases
will have two round-houses, each four per cent.-Reuter.
tingencies
account of £50 Egypt in Rupees and the rest in with a TOIL.
and turntable, million, no doubt carmarked Sterling. The ratio is 00 per provision will be made for a against the loss of Abedan. Stili cent Sterling and 50 per cent third if necessary. free reserves amounting to three Rupees.-United Press, times-tho-total-capital-and-
prevents
The boom is now over, and demand has shrunk to normal Dunlop Rubber Company dimensions. Simultaneously the
In inner tube, the increase
capacity reilnery Instead of ou
meang the
the industry has tyre has a rüliber lining and pressure of the beading against become much more competitive. the aim of the wheel is claimed Thanks to the
continued growth is proot in world consumption, all pro- to give a seal which
gainst any escape of air. The ducers and refineries are doing alra larger volume of business; but lining Lubber escoping to the fabric of the tyre they are having to do it at and the valve is sealed into the f narrower profit margins.
Oil freights have also follen, and this makes oll cheaper to the though ultimate consumer, even the price of crude oil may have remained unchanged.
But this decline has naturally Carnings; and affected tanker several oli companies derive part] of their income from their tanker feets.
wheel rim.
An offein of the company claimed that the resistance to Was twice as pressure loss
ficient- As that of a tyre with an ordinary inner tube, and in addition a punelure-seal layer, would prevent the escape of air even If a nail pierced the tyre.
The price would be only 20 per cent more than the combined price of an ordinary cover and Inner tube.-Reuter.
BANKS GIVEN
PERMISSION
Frankfurt, June 2.
Arab Economic
Conference
Belrut, June 2.
or
The Arab conference on finance
and economy ended after achlov-
cont
cent
revenue reserves
to nearly five times the Ordinary
capital are on
anomaly, which cannot persist indefinitely.
Sooner or later, some of them
ing what G. Hakim, chairman of will have to be capitalised and
A
wide,
and
the conference, called “a large issuet as bonus shares, step toward
more simultaneously the amount dis- realistic economic collaboration", tributed in dividends could, to The conference cailed on the quote the chairman's words, be Secretariat of the Arab League made "more substantial."
to examine ways of forming an
SHELL'S DIVIDEND
■
onganisation for the financing of To a limited extent this is what major construction works and to forn a committee to consider Shell Transport has done. The setting up an Arab steamship actual rate of dividend for 1952 company.--France-Presse.
Japan's Bid
Bombay, June 2.
Indications that
equip-
to
Luxembourg
Fair Space Taken Up
Luxembourg, June 2. Every inch of floor space at the is. 15 per cent, tax-free, which is fifth Luxembourg Sample Fair. the same as that of the previous which runs from July 11.to 20, year. But in the meantime there has bren allocated, the DT- was a one-for-four bonus share ganisers announced....
いつ
current; meeting, is: Vienna this month
in the meth
the method of compiling the The
space
now
The project involves alterations to the existing rail connexions to the Newport marshalling yards to provide G speedy passage for the locomotives to and from the new depot, and there will be on additional goods reception line to Improve the working of the Newport No. 2 marshalling yard.
POINT FOUR- AGREEMENT
Calro, June 2.
Free Currencies Advocated
Luterest Rate
Reduced
Brussels, June 2. Colombo, June 2.
The Belgian National Bank is A member of the Australian reducing from 5 to 4.5 per cent Senate, Mr M. C. Cormack, hos the rate of interest on
bills
m.v. "HULDA MAERSK"
m.v. "CHASTINE MAEUSK"
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 change without notice.
At liberty to proceed via other paria to load/discharge carto,
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight—refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"NOREVERETT”
Arrives Salls,
June 12 from Manila, June 13 for Singapore,
Rangoon
"BRADEVERETT"
Arrives Sells
June, 20
&
Penang Calcutta,
from Singapore. June 21 for Kobe & Yokohama,
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight—refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"STAR ALCYONE”
Arrives
Sails
& ORIENTAL
SEPARABIT
"THAI" Arrives
Salls
STEAM NAVIGATION CO.
1
R.M.S. "CANTON"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 5th June at 5.00 p.m. for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Sold.
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 Thursday, 4th June, 1955,
NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading. on board by ship'a alinga only, BAGGAGE COOLIES, WILL NOT BE PERMITTED
THE TO... ENTER "WHARI'," "
issue from reserves, and so the German Arms, trying to regain A "Point-Tour" agreement Tokyo, June 2. Arue dividend
comparison is 10 their pre-war markets in neigh-fald to underdeveloped countries) Japan, the foremost industrial per cent against 15 per cent.
bouring countries, will form the has been signed by the American ration in the Far East, has made
Shell Transport's net revenue backbone of the Fair. A total of Ambassador to Egypt, Mr Jeffer- SPECIAL a bid to the site of the 1053 Improved from £7.4 million in 1,171 firms will exhibit, compared sud Caffery, and the Explian nnnual meeting of the Inter-1031 to £0.6 million last year. with only 328 last year. After Foreign Minister. Dr Mahmoud national Chaher of Commerce. The earnings of the complete Germany with 414 exhibitors Faway: It provides for the study The Chamber is holding its Shell-Royal-Dutch group aro comes Belgium with a total of the needs and resources, of
considerably larger, but a change of 290.
Egypt in agriculturs, forestry and organisers have been: fishery.
The United States Goverment group's accounts makes it difficult forced to urn down dozens of
carry Tokyo will be selected as the to compare the two years. late applications for floor space has authorised $760,000 for
Last week Anglo-Iranian was in spite of having increased the ing out projects recommended by Ichiro Takawo,
of the quoted at 57% offering a yield of area available. :
a joint Egyptian-American com- Federation of Economic Or 6.9 per cent.. Shell stood st The Fair will be divided into milice of experts and approved EMBARKATION, guications, dia menage sont to 4 3/10, equivelant to nyient of industrial groups, including by the Egyptinn Government. Vienna::Wo.hope all member 0.5 per cent.
agriculture, heavy. Industry, The Egyptian Government has countries will support our bid. Both are sound investments, lexulos, food, heating, glassware pledged an equivalent amount in ---United Press. „TAI
and the most that can be said Hualog—United Press, acrylees and material.-Router."
"It is our fervent wish that
rite for the 19 sold!
Band
Passengers should embark between 2.50 and 4.00 pm on FRID tho 5th June, 1958.
June 5 from Japan. June 0 for Singapore, Port Swotten- Bombay, Colombo, Karachi, Khorramshahr & Bahrein.
June 11 from Singapore,
June 12 for Kobe & Yokohama,
(Accepting cargo for transhipment Kobe/Tusa and Kobe/Okinawa)
EVERETT STEÄMSHIP. CORPORATION S/A Queen's Building, Telephone 31206. Chinoso Department: Talophane 28293.
BUSINESS REGULATION
ORDINANCE 1952
Copies of the prescribed Forms 1(a) 1(b) and (c)
Now On Sale at S. C. M. Post, Ltd. HONGKONG AND KOWLOON
TEN CENTS EACH