THE CHINA MAIL, THURSDAY, JUNE 18, 1958.
Nationalised Steel Industry Discloses A Big Increase In Profit
London, June 17.
Britain's nationalised steel industry now to be returned to private enterprise increased its profits in the year which ended on September 30 last, it was announced here today.
The annual report of the Iron and Steel Corporation of Great Britain, parent body of about 300 companies, shows the Corporation's con- solidated profit before tax at £64,400,000.
HONGKONG STOCK EXCHANGE
on
(From Our Correspondent)
Business the Hongkong Stock Exchange continued active with a volume during the morn- ing up to noon of $512,300.80. Transactions recorded and noon
quotations were:
SUARLES BUYERS SELLERS SALES DANKS
.. 1810 15307
JK. Dank
2 Alo110
INSURANCEÈS
Canton
Underwrite
JK Fire
Waterbout ...
SHIPPING
Ana Nov.
DOCKS, ETC,
K. Wharf
230
780 783
4.70
140
134
3.35 1.43
10
500- 5.65
N. PL. Wharf 5.00
Pick
500 60 8.70
20 30 1300 14 QUEZO
Provident ... 11.ED 11.00 1425 11.90 158 11 33 Wheeluck... 7.05 7.00 200 19 7.85
LAND, ETC.
4300 $ 70
400 7.85
000 € 7.00
J. Rutel. 7.00 7.05 3000 » 7.003
JK
Humphreys
Realty UTILITIES
015
1000 7.85
200 € 7,80 1000 7.83
03 300 or 0115
G06 of 15 200 0 15.10 2.45 21 1000 or 2
Tran ...... 23.00
Star Ferry
112
5. Light" (0) 11:30 TIR
C. LARM IN) 7.15
Electric.... 25.40 23y
Margo Flee
Telephone. 19.40 10.60
• INDUSTRIALS
Cement
Stope STORES, ETC.
Daśmy Watrons
|
This is after charging £17,- | sale of companies to privato 100,000 10 normal plant de investors. preelation and £10,000,000 fur Addition depreciation, The previous report which covered ʼn period of seven and a half months showed a consolidated prust of £34,000,000 equivalent to an annual rate of £54,400,-
000.
Last year's profit therefore improved by ten millions.
Today's report comes shortly before the Conservative Govern- ment starts to hand the industry back to private ownership.
The Government has appoint- ed un iron and steel board to exercise general supervision over the industry which the Labour • Government tionalised in 1940.
It has 1.90 appointed! special agency to handle
Synthetic
Rubber
Proposal
314-
4
the
New York, June 17. The House Armed Services Committee agreed
to recom- mend that the United States rubber industry be required to
orders 21.40 plus fir or 23.70 month sopply of synthetic
rubber according to a Washing tan
626316 C
19.40
1056
for D
731x0~+
By the end of this year it is expected that a major portion of the industry will be in' pri- vate hands:
for Parliamentary sanction denationalisation was obtained |cariler this year in the face of
strong Labour opposition.
Labour has repeatedly de- cared it will relationalise the intiustry if returned to power at the next election..
EXPORT PREMIUMIS
main reason for the rise in pro- The report discloses that the nts was the increase in export premiuins the difference tween export
steet prices for Ant the lower (controlled) prices charged
domestic
usera,
tu
U.S. TRADE Strenuous Effort
POLICY FOR JAPAN
Washington, June 17,
A new test of United States
commercial Dolley toward Japan began when the offcial Torift Commissjon held public hearings to help decide who ther
to raise Import duties on watch bracelets, most which come from Japan Hongkong.
of
and
This hearings were based on
an appeal from domestic watch
To Repair Ravages Of
War
the destruction done throughout the world
in the late war was the worst ever known, the money and effort since poured out in restoration is no less without equal.
MESSAGERIES
P.O. Box 63. Queen's Bldg.
M
MARITIMES
Tel: 26081.
M...
PASSENGER/FREIGHT SERVICE
Outwarde
Loaves Marsulites "FELIX ROUSSEL"
• Batied "LA MARSEILLAISE" ↑ July “VIETNAMI Homewayde
.17 July
Leavas Hongkong
"LA MARSEILLAISE" Aquat "FELIX BOUSSEL" .23 July "VIETNAM"
..22 Augu
Janzkonk
For 10-1 July.・・ Yokohama
$-10 A
Due Martelitos "Via
23 Aug.
27 AUS. 14 Sept.
Yokoham
MANUA
Falgon
Nalgon
vin Marseilles to all Mediterranean & West Africa ports. via Djibouti to Madagascar.
"MONKAY"
In addition to the thousands of millions of Outwards bracelet manufacturers who dollars given by American generosity, the United "SILVERSANDAL"
Nations is the parent of several organisations—“MUKONG" one can think of at least ten off-hand-whose ex-MONRAY General Agreement on Tarifs penditure in reconstruction runs annually to many "SILVERBANDAL"
per
want the Import duty Increased from 65 por vent to 110- cent which was the rato be- foro the US, entered into the
and Trade in 1949.
Imports of watch: bracelets
more millions.
for
1
in the last two years hovo A deeply interesting illustra- the world than St Dunstan's been valued at somewhere bo- tion of this, activity is given In Britain tween $3,000,000 and $5,400,000 the
overcoming the at the retail level, according published, of the United Nations
report of 1952, recently terrible handicap of blindness. to testimony submitted by im- Technical Assistance Adminis- In Egypt, too, T.A.A. is helping porters to the Tariff Comunistrati which
tration,
establish slon.
operates chiefly to
demonstration through seven The volume of imports was Nations' offspring, such as the ton of the blind where it is in- of the United centre for the social rehabilla- only 104,328 bracelets in 1947 Food and Agriculture is tended to train Egyptians for but increased 10 713,032 1940 and to an averago of 3.604,484 bracelets in 1851 and 1952.
Health Lotts
World
the same good work in other Deseo, &c. for social
Arabic-speaking countries. But economic development, and publicit is not only in Arab countries Domestle manufacturers
administration-a phrase, as the
that ignorance aproport showe,
and dirt cause pealed to the Tariff Commis-
which is inter-blindness that need never have preted In the widest possible happened. slon in September last year to
sense, apply the "escape clause" In
Lastly one may mention the the GATT agreement so as to
caso of Greece. Since the end of 1951, TAA geological mapping for the dis- Besides be free to restore the Import has extended be-
its work to 77 dute on bracelets. Tho
of minerals and under- pur-
countries and territories-10
around water, pose was to reduce or halt" the more than in the previous 12 oil-cloth and
12
development of influx of Asiatic bracelets.
Inoleum manu- months. It has increased Importers appeared to
the do-
facture, and the organisation of number of expert advisers sent a Government statistical service, fend the present duty rate and
abroad from 165 to to oppose any change in it fellowships
and the T.A.A. 451;
at work among the United Press.
and
scholarships
them to granted to persons in under- develop a developed
a "community" sense, countries to study and special subjects abroad fren 451 and to pool their labour in the 10 720. Its total expenditure making of roads, water and
systems, and 1952 was £2,504,978, more than reclamation for the common use. Jand sewage four times that in
in 1951; and its Already, one reads, so much estimngod
this year has been done as to afford n epending will be about £2,681,285. Part model for use in other countries,
In many ways T.A.A,
Since the end of the financial year these premiums have be- smaller, come progressively and
in some items, notably Linplate, have now
virtually disappeared, the report stated. Recalling that domestle geel prices were increased In February 1952, the report sald
ત
this was not sufficient to cover all the increased costs and consequently profils fell in the Jatter part of 1952.
Taxation of the Corporations profits took no less than £38,- 000,000, compared with £10,- 600,800 In the previous seven
and a half months period.
Current and future tax liablities total £94,500,000, capital expenditure on new plant etc. totalled £52,400,000,
Commerce to the Journal of compared with a annual rat
of £57,000,000 for the previous
Ai present the Reconstruc-period. tion Finance Corporation which
Outstanding capital expend!-
is sole producer and supplier ture estimated at £133,000,-
of synthetic rubber, requires 000 and the cost of new pro-
N.Y. Stock Exchange
New York, June 17.
ot
is
Chia large sum is drawn from
Toul warde
"MEKONG"
FREIGHT SERVICE
Lestra
Europe -Balied
·Europe -Salleg
· Tamburg—Salted
LAYER
:
#rugkong
19-20 June
For
Japan
2-1 July
Japan
19-20 July
Japan For
Heelast...}} July 14 July
.. Kraleng-30 July
1
., Keelung–9 August 11 August
† Solgon, 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.
In Port Buoy A-10
July July 17
NEXT, SAILINGS
m.Y.
DI.V. "OLUA MÃEEBK" M.V. "HULDA MAERSK” to
"CHASTINE MAERSK"
ARRIVALS FROM U.S.A,
July July 10 July 13
to-
to many
the United Nations' budget, part operates with those Ane organisa-
voluntarily contributed
by tions,
the Economic Commissions diferent Governments. The Stock Market staged in
for But this is not the whole story. Latin Americs,
for Europe, and for Asia, heartening recovery today, run- Little
whose annual Norway,
for example, ning up $2 and $3
runs share to besides contributing $1,400,000 to millions of dollars, and. In ad-
expenditure wipe out completely the $1,250,- T.A.A raised the same amount dition, there was the tremendous
| 000,000 loss in market valuations by public subscription exclusively of the two previous sessions, for India's bencilt for example, in
work done the United Nations
by The only thing to spoil the day in developing fishing and im-1displaced on the hordes of for the bulls was the lightening proving conditions
I persons in Europe after coastal the war and the core still being of volume.
villages of Travancore.
given to millions of Korçan
and Palestine-Arab refugees.
Such be re- splendid work should A new feature lust year was mombered by those who so glibly the rising tendency of improve-
under-cast stones at the United Nations. developed countries give-The Scotsman,
to technical assistance Instead of But hardly only receiving it. any country seems without its obligation to TAA. Even
rule. The overage 10.00 17.10 1000 17.19 purchasers to place order only jects yet to be approved at about
13.40
500 17
20.00 20.80 3500
.... 34.30 241⁄2 500
Lane Crawford
XD...t
COTTONS
Ewo XD MISCELLANEOUS
1.10
21.20
ess:
500 2990241
Texule Corp. 54 5.30 1000
Yongue
(N) 5
150
one month in advance and for £130,000,000,
only a 30-day supply of rubber, For several years to come the
total
capital
expenditure la
The committee rekely to average at least £60,-
tion was linked with
transfer plants
a of synthetic rubber 000,000
Pn from Government to stated. private ownership in June next
year. The committee's council
5.30 pointed out
Chicago Grain
Futures
Chicago, June 17, Pricas of grain futures closed today as follows:---
such
Tho
them with two
hand when DII sells the plants.-Reuter.
05
усаг, the reporta
OUTPUT TARGET
wem
Oils and rails
the pivotals on which the advance centred. Gains in these groupa of $1 and $2 a share were the
ment of $2.01 in ulls was the largest major groups and the best. Industrials, however, ran up $2.86 in their widest gain. Utilities had a
a 12 cents gain. The ma improvement in wheat weakness. The
gain in heat today as much as 10 cents a bushel at government announced the de- one time.came whep the
in
NEW FEATURE
market was helped by the develop Canada was awhly
cision to make
on emergency price torn an wheat stored on the ground
in
stir
last
.In
it
Confidence In Natural
Rubber Field
a social welfare fellowship for the study in Europe of housing and town and country planning. that temporary For planning purposes British
the world. But perhaps it is Denmarks stands high as one shortages may occur during the steel output in 1957 is visualised
best administered 4.53 transfer period and suggested as 20,000,000 ingot tons,
cred countries
that
This a Iwo months' supply
about conditions may be supplemented by about should Inventoried in nd 500,000 tons
be
enland, of reclaimed re-
year vance to provide
a buffer for usable steel and 500,000 tons of that the worst of stock solling is
The experts generally agree | obtained à fellowship "to study and observe the administration of
New York, June 17. shortages told the com- 1210007
............imports, making a total of over and a new base is being | Arctic territories in Canada. "My ̈ ́Harvey" 6. Firestone ̈ ̈ ̈ ̈Jr. council
tons, sumelent for andoned for the traditional summer mittee that
Within the matter-of-fact returned from Europe today and that rubber consumers estin
estimated home demand should be required to pluce 18.000.000 tonn and for export as thin as today's, a decline could to
uf | rally. They noto that in a market records of Tia.A. there is much sold that "an expression of con- orders in advance covering their of 3,000,000 tons.
the Imagination.fidence in the future natural be touched off easily. prospective needs as well enough extra to leave each of ingot tons and in May, 1953 yas
Olls were helped by higher Afghanistan, to most Western rubber was a significant out- (In 1932, output was 18,118,000
minds, sucgests ♫ land very growth of the International prices for crude oil and gasoline. difficult to get at, full of wild Rutor Corderence in Copen- months' supply running at an annual rate of Gains in the group ranged to $5 men
Government 18,230,000,000.
men armed with very long hagen." In Texas Pacific Land Trust.
knives. In fact,
Normal market economic
forces will Supplies of sheet and, tiplates Steels advanced fractions, help development there seems to be adjust any difference between are expected to have shown the ed by the peaceful labour settle the order of the day, Geologists supply and demand of natural greatest proportionate expansionment in the industry and the ever current levels, followed by subsequent price
and engineers are bringing to rubber during the next increase for light mores of underground water according to the concensus of tubes and light rolled products,
their products with heavy steel products log-
for the benefit of the Kornkui the U.S. 1,051 issues traded, 672
manufacturing rubber sheep. whose necces are industry, Mr Firestone reported. were higher, 162 lower and 217
Afghanistan's best paying export.
opinion
that unchanged. United Press.
"emetent rubber plantations have nothing to tear from com- A great Irrigation and hydro-petition with synthetic rubber.
Firestone electric scheme in the Holmond
recommended Valley will bring 500,000 acres rubber plantations to take carly into cultivation. Roads are being steps to assure "productivity on built through mountains where a large scale and the replacement once ever Kipling's "Lost of low yielding trees with high Legion" could hardly have found yielding stock
The industry alto should plant a path. And 13 fellowships and additional trees to meet the scholarships have been granted
1.40%-12 1.475-34 1.421-43
Wheat-price per bushel
Sput
2,00
July
September
December
March
May
1.0915 2.00 2.04-2.04% 3.10 2.142; -2.15
Carn
Spot
1.51%
July
September
December
Marchi
1,481
May
nye
July
September
1.402
1.3076-15 1.2%~4
Dais
July
September
Spal July
August
September November
January BATH
Soybeans
N.Y. Cotton Futures
New York, June 17.
ого
DA
sinome production of iron ore should rise to 20,000,000 tons in 1057 from 14.000,000 tons in 1941.
Total requirements of imported
are expected to Cotton futures today ended a riso quiet and featureless session with to about 10,000,000 tons in 1957 from 0,000,000 ions in minor prices changes. Traders 1951. The
now ore felds such kept their attention focused on
being developed in ar that Korean
while developments 1.50-1
Conakry in French Gulpen, are 230-39 they watched the rally
contributo Eub- 2.6315 wheat and securities, Firmness Xpeeled securities caused some day stantially
2.8511 2.1512-12
2.924
2.6612
to
to Britain's Increased
New York Flour per 1 back. traders to cover at the finish. requirements of foreign ore; the $iz.70 nominal-Unlled Press,
LONDON TIN
MARKET
London, June 17. The tin market was quiet to day at a slow decline. Turnover was 85 tons including 25 tons for cash. Prices closed today at the end
In
Final prices
to
A
were unchanged report statedReuter.
up 4 points. The market
unchanged
to Dit 4
small amount of activity was given over to evening up operations in July before the first notice day on Wednesday. Open contracts in
the spot months at the start of trading today totalled 646,700 bales.
210,040 bales.
of the official morning The certicated stock totalled
cossion as follows:-
Epota elas, buger-
Spot in Beller
Business done at
57216 073
NY Sugar Futures
•
N.Y. Rubber
Futures
New York, June 17.
ISRAEL'S PROBLEMS
RAVO
the
year,
No. 1 standard rubber futures to Afghans to study petroleum world deficit in rubber supplies
Futures cased with the primary, Ting, trado
development, expected in four to avo years."
closed today 10 to 24 polats lower with sales of 21 contracts.
markets on a mixed between- dealer trade in September de livery.
In the
In
旮
spot market. the market steadied after a shaky start, but buyers backed away again and
"seller over" situation
prevailed in Inter New York, June 17. trading. Spot No. moked World No. 4 sugar futures ribbed sheets were indicated at Loading spot firms bought closed
2434 cents a pound. today unchanged to 3 476-97215 July against salca. of October points higher with sales
Prices closed today as fol- of and December, supposedly to 400 contracts. transfer hedge positions for-
Domestle No. 6 closed loday ward. In view of the big open unchanged to une point higher interest outstanding in July,
July with sales of 257 contracts. technicians are beginning to
July World futures leadled on that
buyer 01214 „Three-months kin, seller #15
Busines dong at Settlement
370-67214
Unlied Prea.
Singapore Rubber
Futures
Singapore, June 17.
wonder whether any duly notices short covering. The news
will be taken up with the same Germany has.set June 24 as the promptitude as in the case of day it will buy 30,000 tons of
public utilities, &c.; Mr Firestone concluded.United
Preis. Dae. of the most serious of the
problems with which israel is bravely struggling
lack of 19
houses. For foreign exchange to London Rubber
buy materials abroad is short,
costs are local buliding
very high, and there is a continual inflow of Jewish Immigranis from
Futures
London, June 17.
abroad. Experimanta are being The rubber market Way
made to build with stabilised carth-apparently earth pressed sicadier today. Prices closed as into bricks; for T.A.A, is helping | 101low with laboratories to test the mori o rubber, in pence
per ib. 23.25 bid sultable earth and block-making| ady" 23.96 bid machines,
August
lows:- July Reptember December March May
ALBO bid 28.50 bid
23.50 Dia
-United Press.
the preceding March and May Cuba kaws under its trade treaty JAPANESE BONDS
Prices of rubber, futures closed ported domestic consumption of
today as follows:-
(Number 1 rubber, per lb.
July
August
Beptember „Number – rubber, July (Number 3 rubber, July
Number rubber, July #Spot rubber, unbälei
Blanket credi
No. 1.pale- crepe
.
Azure
bales. The generally in line with
780 5714-4 0714-15
016-9-
deliveries.
with Cuba influenced the menti» The Census Bureau today re-ment.
Domestic futures held steady raw cotton during May at 747,- in mixed dealings. Prices closed
was today as follows:-- expecta- Hons Consumption for the same period last year was 680,901 July 51-011
bates. The consumption for the september 6036-36 671-284, 10-month period ended May 31,
totalled 7,030,500 bales against March
22 January (1904) 7,747,070 bales last year,
May Prices closed today
130%
September Bpot
United Press.
Exchange Rates follows:
Spot
„Burizer way done, in the local July (Whobjetal, excbailya narket This October
**** | Bocember.
morning at the following less March 1904) UB. dolar (per 31)
Sterling note: per £1)
15.7% May
Indonesians #gulider (per 100) '21.00 | July
- Siłam kiekis per 100) jäsen., 31,60 October
FIC DIAstres (per 100)
1.79 December
October
'Contracts No. 4 (World)
$26 bid
3.88
.co
bid
3.62 nominal
1.43 nominat
3.45
3.43 nominal
?
34.35
33.01
Contract No.
30.00
13.00
34.01
23.78.bid 33.07 bid
1July
September November March May
-5.88 bkl
$43 blá
15.00 bid
21.67 nominal Spot:
---United Press.
London, June 17.'
Japanese bonds,
"A" (48. of 1809) "E" (4% of 1910)' "C" (BA of 1007) "D" (5%, of 1924)-
(5% of 1990) Consola
In ways too numerous to quote July/Beptember
October/ReCRIHET TAA helping Israch-one January/March interesting one is the develop-
ment of peat deposits.
Another
Pretz
is the recharging of New Orleans Cotton |
water reserves by
storm floods with check
and
Housing is also a serious need in Lebanon there is mention of "alum clearance and resettle-
Those
acquainted with Spot
8314 dreadful hovels
the
the
121/
70
121
61%
--United Press.
N.Y. Tin Quotation
New York, June 17.
in
in which July.
16. Detober millions of human beings in the December Middle East and Asia are herded arch
Western Hay together in - by standards Inconceivabla cun-
October What will | Degeraber ditions of dirt; and know what those words mean.
TRAINING THE BLIND Dre very appealing denis
entry with the training of blind people
Prices in the metal market to become" soll-responsive and
July
Futures.
Closing rate
June 17. 21,10
33.17
-United Press.
Copra Quotation
New York, June 17. Copra was quaiad, today of here closed today unchanged oven self-mtipporting-in Italy.) $170 per short ton, naked, for with the following exceptions!---|| Fellowships, have been granted | Immediato shipment; cit, Panife
· Tin, Grado A. (99.60 per cent for the study of what is being | Coast, Cocknut oil was quoted ́or higher) | New-York," per lb, dane in this direction in Britabi today at 13% (5 cents a pound, United Press. : 52.30 United Press,
There is no better institution in asked.-- United Press,
m.v. "ELSK MAERSK" M.Y. TREIN MAEOSK m.v. "MABEN MAERSK"
For Freight and Further Particulars please apply to:-
AGENTS:
:
JEBSEN & CO.
Pedder Building.
Tel. Nos, 30066-9
Chinese Freight Booking Office
27, "Connaught Road, C...
Tel. 20461
Datre and rolaŭon subject to ebange without notice. At überly tp procegă, via other porti to load/discharge cargo,
EVERETT LINES
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"BRADEVERETT"
Arrives.
Salls
June 22 from Singapore. "Jung 22 for Kobe, Osuku, Yokohama, Tokyo Bay, Shimizu & Nagoya,
"BRÅDEVERETT”
Arrives
Salls
July 15 from Manila.
July 16 for Singapore,
Rangoon & Calcutta. (Accepting cargo for transhipment Kobe/Pusan, and Kobe/Okinawa)
Penang,
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Blain, Malaya, Colombo, Bombay,
"Karachi and Persian Gulf Ports.
"STAR BETELGEUSE”
Arrives
Balls
"LAQ”
Arrives Sails
June 25 from Takno June 28 for Singapore, Port Swolten- bam, Madras, Colombo, Bombay, Karachi, Khor- ramshahr, Basrah
Bahrein.
from. Singapore.
July A July 3 for Kobe & Yokohama,
(Accepting 'curgo for tennshipment Hobe/Pusan and Kabe/Okinawa)
EVERETT STEAMSHIP CORPORATION SIA Queen's Building, Telephone 31206. Chinese Department: Telephono 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