MARITIMES
Tel: 50031.
M
PASSENGER/FREIGHT SERVICE
Outwards "FELIX ROUSSEL”
Leaves Margališes
Balled
LA MARSEILLAISE” 7 July VIETNAM ........17 July Homewards
Leaves Hongkong "FELIX ROUSSEL” 25 July
LA MARSEILLAISE" 4 Augu
Itongkang 10-11. July
2-4 Aug.
For Yokohama Balgon Yokohama
D-10 AUT.
Duo Marselites Vla
24 ADE.
Manila
21 AVE. 14 Sept.
Malgos
HAICON
vir Marseilles to all Mediterranean & West Africa ports. vis Djibout! to Madagascar.
"MEKONG" "COURSEULLES”
FREIGHT SERVICE
LJAVCE
•Europe-Sailed
„Europe-Salled
Leaven
Italy's State-controlled steel industry, coming | “VIETNAM ................ 22 August up from behind in a rush, is nearly ready for a dangerous challenge to Britain and other European steel producers on the world's export | outwarde markets.
Its leaders are confident' of success, in con- Homewards verting Italy, traditional steel importer, into an exporting country, thanks to the new glant | "Cornigliano Integrated Steel Plant" at Genon. It is to be the most up-to-date on the continent→→→→ at least equal, it is claimed, to the new plant at Port Talbot, of the Steel Company of Wales.
the Iast 10-
Ald. dollars. begun, three
exports, about £145,175,- 000 were £0.000.000 down.
the
rold output is taken into considerallon, though, there was
favourable balanco of trade of about
£8,000,000
for the fve months,
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business done on the Stock
Exchange this morning amount- ed to $700,780. Noon quota- tions and the morning's transac- tions:-
In other fields it is the same
of trade story
opportunities inised by
mostly through
Promotion kecnicas.
American buyers have complained at the leisurely and old-fashioned way of business in texiles. The greatest source that of irritation seems to be deliveries of fine cotton goods months but are taking six-
BANKA used to 30-day Americans are deliveries.
Britain fails, too, lo
tap the American sudden tremendous vogue of summer clothing. It is a well-known fact in indus- try that British tropical wor steds are the world's best.
Fet ste
themselves
paign to prove by their failure to run a cain- British Brms allowed Italian manufactures to sweep the field, Silke from Italy have made Vast Inroads. Japan swept up the culton print trade.
MARKET FLOODED
Other fields neglected by Britain include sporting goods (particularly golf equipment) and small boats for yacht en thusiasts, the flower seed trade, cameras, stainless steel cutlery modities for which Britain still and sewing machines-all com-
"has a name."
tallans, Germans aud Japanese have flooded the United Sintes with sewing machines during the past few years, a field they never before touched.
"Britain's balance of trade with Canada is growing steadily worse and, to trade, you need not only a willing seller but a willing buyer. You can't sentiment as a basis for trade
us
ing Money court. It is only natural to cell to the highest bidder,
He did not
Canada blame selling where she could get the Britain bul highest prices, Lomon, July 7. would be lor to the Canadian The Anglo-Italiani Mixed market
permanently unters teenamke Committee met today prices come town.
review trade
WITH ITALY
wo countries.
between the
The Committee examined laly's balance of payments ith the sterling area of which Britain in the banker, necording authoritative source.
nn
British and Italian officials of he Committee began their re- ular half-yearly meeting here review Anglo- esterday to
Anancial lalian economic, rarling questions.
The source said that the Com-
mittee would
Laly's
views
to the
21:0
consider
an problems re- various necessary
itions for propress towards |
Earnings Of Oil Companies
In Britain
London, July 7. Although the major British onvertibility of currencies and oil companies have paid out a emoval of Iratic restricions. little more by way of dividend Britain has already exchanged in the past year or two, their iews on this question with Del-distributions are still remark-
West
Germany, the ably conservative compared lum, Netherlands and Scandinavian with American standards, writes
City Editor Emest Eve. ountries.
Britain is believed to consider The average oil company in hat minimum necessary condi- the United States, for example, lons for progress towards con- pays out about half its profits vertibility
eurrencies of
are to the shareholders. Ferti
ound internal financial policles, jour
he pursuit of good creditor boiteles by ercditor nations cdequate and yellability of inancial support,
These IWO Jast conditions vidently refer respectively to United States trade policies and he policies of the International The United Monetary Fund. States as the largest contributor has the dominant voice in it.
The talks are expected to end later this week.
LONDON TIN
1
MARKET
London, July 7.
Prices of tin closed today at
the end of the oMcial morning
ersion sa follows:
Spot, tin, buyers
Spot, tin wolters
Flurineas done at...
Three months tin, buyers
Three months tin, aellers
Business done of
Sestlernent
The market was easy.
over was 25 tons.
605
010
Mit.
Turt
were There co cash sales reported.Unlied Press.
con-
Despite the prestige held by British stainless steel, American commerce
both experts Say and Sweden have now the greatest hold in the United States.
Denmark
by
+10
vacuum
13
to feld-
RHARES HUYENS SELLERS SALES
C'enten
Union
1K Fire
SHIPPING
Ama Nav
Waterbool
DOCKS, ETC. K. Wharf Dock
Three-quarters of the money Immediate operation, the others that went into” the Italian con- are in the final stages of con- struction, were, in fact, Marshali etruction.
A When work was
"Mesta" hot strip mill, years ago, costs already installed, will handle 120 were estimated at £34 million. tons an hour at a speed of 17
the Inst stage is
m.p.h..
producing 3.3 yard wide to £50 million expenditure | sheets down to about 0.1 inch
is taken for granted.
thickness; a cold strip mill will process 60 ions at 34 m.p.h. down to about 0.000 inch, both, the Company's chief engineer proudly told me, Europe's Jargest and most modern.
In one effort the Cornigliano ugement has already failed in recruiting workers, it had as, taken every possible
precaution
to
но plek non-Communists,
Just
what Cornigliano involves for Italy can best be explained by saying that the country's total output of steel is now running at 3.3 million tons unrunity. It and when this mill can produce all of which it will ultimately be capable, it will turn out 1.200.000 tons all by itself, all of it high- to be sold, class steel sheels under favourable conditions, at in the first election of shop
to 4d. 3d.
pound
under stewards, the other day, two of id, per resent world market
the nine members of the plant prices.
to Ly means to the committee turned out production managers members of Italy's Communist eventual purchase of coal and trade-union. North
African ore at British, French and German price levels, forced whereas at present Italy Is
to pay up to 30% more, receiving, since the war, no coal from Britain, very little from America, all from Germany. practically Below-International-level pay for its 3,000 workers should do the rest to lower production costs to better-than-competitive levels.
MEETING
NEED
Sugar Prices
In N.Y.
New York, July 7. Prices of
futures Suztar elosed today as follows:-
Contract No. 4 (world)
By this autumn Cornigliano July will be able to produce as much September
October sheet steel for ship's plates, ear: January (1999) bodies and the like as Italy's March Industries
thus May may require, closing the country to steel sheets Sub imports. By next July, produc- Spol techts per b. fo.h. FOA 20.0G
tion will suffice to initiate a full- scale export
directed drive primarily though by no means exclusively to the Balkans.
HK Bank East Asia INSURANCES
1500
1 1500
734
20
785
141
16.20
1.30
130 0512 2015 1000 201,
12.10 12.20 2500 12.10 3500 12.09
1.00
6.10
4000 г Д
1500
0,10
1000
1.10
2009
6.15
100 7.05
500
unique distinction
7.00
literally
1500
7.95
C
04 357
03
territory.
Proviilent
S'hat Dock Wiecinct...
LAND. ETC.
1K Batel
IK Land Sial Land..
1.35 Humihreys. 10.10 UTILITIES
Tram
24.20
24.70
25 500
500 24.30
Star Ferry... 17 C. Lk 10, 12.10
109924.70 1000 24.70
500 12.20
2000 * 13.50 1000 12.0
500 12.30
C. Light (N) 8.30
Becirle 25.60
"Muçao Elec ̈ ̈ ̈31⁄2
Telephone
..21.20 INDUSTRIALS
Cement
Rope
17.10 STORES. ETC.
Datry
...... 22.10 22.30
000 11.30
500, B.20 1600 M 2015
2000 20.70
500120
.... 17,30
1008
500
1714 12
500
17.70
1800 #300 21
21.00
100224.20
506 22.20
Watson
....21.80
100 6 24,70 500 24.00
L. Clawford 23.20 COTTONS
Ewo
1.20 2.30 do Tuxille Corp. $.33 MISCELLANEOUS
Entertainment 17.70 Yangiste (0) 6.63
But what seems most missed Britain is the catering for a huge private label" manufac-
well FIOW turing vogue, ganised by Jupanese exporters,
From
cameras to cleaners
commodity uny available in mass production for
any American buyers lebel as his own. This Britain has never touched.
Mr G. A. Gauerke, director of the German-American Chani- ber of Commerce, claims that of crockery German exports into the United States are now the on a better footing than British.
· "Germany takes more trouble in finding out what crockery is wanted in the United States," he said.-London Express Ser- vice.
Yangisze (N) 4.90
sen
3.38
1.57 bid
3.04 notulmal
3.44
3.43
343
September
Cibar
3.43 namal
3.59
Contract No. C
July September November
BNI bid
The Comigliano Mill has the March (1054)
of having May increased! Italy's national July
September in a sense trod the November
7
5.92
5.57
5.02 nominal
four sugar
5.17
New York ex-dock) 5.90
World number closed 2 to 3 points lower with sales of 361 contracts,
lodny, when
hen Inspecting the Spot cents per ib. c.f.f.. impressively spacious, sun and nir-filled work shops, bordering
the Port directly
of Genon, Italy's Number One.
The Mediterranean had lapped
Domestic number six futures
a small strip of sandy beach closed one point lower to one und point higher with sales of 82 in bygone days the playground contracts.
until
of Genon's aristocracy
June 1950 when work was begun.
Dealers
the attributed In the world futures trade selling. scattering pointed They - Little
When, last September, foundation casiness work was completed, the beach
out
Germany
as well as a rather ugly! bought 4,300 tons of Cuban- 31 castle nearby fund disappeared.
raws at a price equivalent to the During intervening months
8.55 around rock one million tons of sand,
f.o.b., compared and rubble had been poured onto
price of as far spot the sea's rocky bottom, as far pound yesterday.
The domestic with
2000 5.41
1000
3000 0.63 4000 vr 5,70 3000 0.70 1600 5.00
down as 210 feet deep to reclaim industrial edged
an really situated
area of about 100 acres,
a stone dyke, and protected by 114 miles long and two-fiths of a mile from the old shore.
U, S. ENGINEERS Now "Begin Production Day, often announced and as often One of postponed, is at hand.
the mill's two Marlin blast furnaces (750 tons per day each) is approaching the end of its one-month warming up process; the second monster will go into
"MONKAY" "SILVERSANDAL"
"MEKONG"
.Keetung-ja July
Hongkong
For
23-21 July
29 August
Заран Japan
Hongkong
För
13 July
..Kretung 2 Augant 4 August .Keelung-18 August 20 August
3 October
"COURSEULLES. Keelung 1 deleber
+
↑ Saigon. Marseilles, Algiers, Oran, Tangiers. Cusablanen, Le Havre, Antwerp, Rotterdam & Dunkirk. Subject to change without notice."
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHA via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
13. V.
"CHASTINE MAERSK“
July
30
m.v. TABIS MAERBK” 1.V. "MAREN MAERSK”
Aug. AH
2
. ARRIVALS FROM U.S.A. m.v. "TREIN MAERSK“
July
10
m.v.
"MAREN MAERSK"
July AUG.
.14
*
1.v. "OLVE MAERIK"
For Freight and Further Particulars please apply to:---
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel. Nos. 38066-9
Chinese Freight Booking Office
27, Connaught Road, C..
Tel. 20461
Daten and rotation subject to change without notice,
At tiberty to proceed vla other ports to load/dischargÓ ERTED.
EVERETT LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"BRADEVERETT"
Arrives Salis
July 18 from Manila, July 17 for
"REBEVERETT"
cents per
pound, with a world 3.50 cents
a
Arrives Salla
raw
market, was limited oltering, held at 6.45 cents
pound with altributed in the steadiness part to the fact that Philippine shipments have declined sub- stantially, relieving pressure/ United Press.
London-Foreign Exchange
The Rubber Operation before the end of the New York
Markets
Singaport, July 7. Prices of rubber futures closed
Grain Prices today as follows:
In Chicago
In contrast the Government- controlled Anglo-Iranian cern distributes little more than one-fifth of its profits, and the Shell company only one-sixth.
British, oll men have plenty
for this state of excuses affairs. They point out, quite rightly, that United States all companies are much better. treated regarding taxation, and as follows:- that fast write-offs allow more profits to be paid out in divi-
Spot dends.
British companies have also September
to face a much bigger pro- March 1934 portionate capital expenditure May 1954
hac
Chiengu, July 7. Prices of graina elcsed today "Wheat (No. 2 red. per bushel
In cents),
1084S 109/
July
December
in cents)
208-1
2011-1
2:394-114
since the war. The ten-fold Com (No. 2, yellow, per bushel boost in this country's refinery capacity, for example, has cost po
July £100 September the industry well over
Decriber million.
Replacing old tanker tennago March 1054
May on'd sdding another 2,000,000
17
20342-10 142H
3401
140-147
No. rubber, per Ib.
July
August
*September
03-60]
799-5300
No. 2 rubber, per tb, Judy 6
Nu. 3 rubber, per ib. July 0135-0175
No. 4 rubber, per 1b. July 60-1
Spot rubber, intrated
Blanket crete
No. pale trepe
57-58 72-70
After opening with casiness the marke steadied later on trade and factory buying with sellers reluctant.-United Press.
LONDON MARKET
Lendon, July 7. Prices of rubber futures closed today as follows:-
No. 1 rubber, in pence
per ib.
August
September
October/December
January/March April/June
Montreal year.
Amsterdam the Brussels The blueprint of Cornigliano Mill was planned by Oslo
Zurich American engineers. The McKee | ficutsche Mark Company provided three batteries Copenhagen of 20 coke ovens each; also six Parts
Stock hatm open hearth furnaces of 183 tons each. The first is ready for
Blocked Mark.
Landon, July 7.
2.81 0/10-28 11/16 2.70-2.7031 10.38-10.5 193.71 % -1,3009315
39.5922-1930 12.18-12.18!
Singapore, Fering, Rangoon & Calcutta.
July 20 from Singapore,
Kobe July 27 for
& Yokohama,
(Accepting care for transhipment Kobe/Pusan and Kohe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"THAI"
Arrives Salls
July 11 from Takno
Juty 12 for Singapore, Port Swelton- Colombo, ham, Madros, Bombay, Karachi, Khor-
Basrahy
ramskar, Bahrein,
"STAR ARCTURUS”
980-98035
14.51-14.62
United Press.
Sails
M.V. "FELIX ROUSSEL”
WILL SAIL FOR
YOKOHAMA and KOBE
COHAMA
Saturday, 11th July, 1953, at Noon EMBARKATION:
10-19 BAGGAGE: ·
2032-1914 1915-154
1945-29-13
ID P
30%-194
Rye (price per bushel in cents).The market was steadier after
tons to Britain's tanker Beuth Zuly the past seven years has prob-September ably cost nearly another £200 million.
Roybeans (price per bushel in Apot to July
| August,
cents).
$249
quietness with No. 1 RSS quoted 23016 at 19% Unlett Press.
NEW YORK MARKET
Now York; July 7. 270 nom. The point of Interest
27214
Prices of rubber futures closed De follows:- shareholders in the British com- September
2014-12
23.10 bid 285-2513 July panies is that this huge capital November
26814 September
23.00 bld expenditure programme should January 1854”
201 now be starling to tall off. March 1954
Harley-price per bushel in cents). Providing profits are maintain- Bpot
130-100 cd-that is really the big query New York flour-per 100 lb. sack | May
cash 12.53 nom-United Prons. avaliable for dividends.
Exchange Rates there should be more
December March (1954)
|July
29.60 23.40
30 bld points
Business was done in the local unofficial
thu should be raised. Having seen market Exchange moming at the following rates:
millions of their money put 15M back into the industry. Inves Japan Indonesian guiders (per 1001 20.40 tors are entitled to some rc
If there is, then payments JAPANESE BONDS higher with sales of three ebb
US dollar ther. $1)"
0.02573
Sterling noto iper £1)
Stam ticals (per 100)
Singapore (Siralis)
FIC plastres (per 100)
ward for their palience.-Lon-consol Eden Express Service,
Futures closed 10 to 15
tracts. Dehlvis said there was some manufacturer buying. They part to attributed the rise In covering against the late arrival ong boat carrying rubber. — United Iress.
Londen, July 1. Bonds "A" (48. of 2009) 7
13" (52 05 1910)
ba, of 1907 183 (519, 1990), 20of
-United Prem.
Passengers are requested to board the vessel between 9 and 11 a.m. on Saturday, 11th July.
Baggage room, hold and cabin luggage will be registered at the Kowloon Godowns, Godown No. 50 (No. 2 Gate, Canton Road entrance) from 9 a.m. to noon, and from 2 to 5 p.m. on Friday, 10th July,
CABIN BAGGAGE: cannot be accepted on board before embarkation time. Passengers will therefore have to collect their baggage from the godown between 9 and 11 a.m. during which period cabin baggage may also be re- gistered.
Passengers are requested to note that ALL BAGGAGE must be registered as prescribed above.
Compagnio Dos Messagorios Maritimos
Queen's Building.
Tel: 26651.
Arrives
July 22 from Singapore July 23 for Naha & Japan (Accepting cargo for transhipment Kobe/Fusan and Kobe/Okinawa)
&
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophone 31206. Chinoto Department: Talophone 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