MESSAGERIES
P.O. Box 43.
Queen's Midg.
Ontwarde
M
MARITIMES'].
Tel: 2003).
M
PASSENGER/FREIGHT SERVICE
Leaves Karsošies
"LA MARSEILLAISE" nalled
Hongkong
2-4 Abs.
For Saigon Yakima
*VIETNAM"
#äljed
9-11 Agg.
"CAMBODGE"
* Jнly
28 AVE.
Homewards
Leave Tingkang
Das Marcelites 'Vix
4
27 Aug.
Saigon
"VIETNAM"
.... 22 August
14 Sept.
Halgon
"CAMBODGE"
.... 28
Aug.
20 Nept.
Kaigen
"LA 'MARGFILLAISE" August
via Marseller to all Mediterranean & West Africo ports, vin Djibouil to Madažarear.
Onwarde
"COURSEULLES”
"AURAY"
RAQUADDY"
Homewards
"BILVERSANDAL“
"MEKONG"
"COURSEULLES"
"AURAY"
FREIGHT SERVICE
Dewyro
....Europe-Salles
Europe Salled Hamburg-25 Aug.
LAVED
..Keelung- 3 August
Подкопа
For
31 August
Japan
22 Sept.
2 Get.
Hongkong
Japan Japan
Far
4 August Keelung-19 August 20 August „Keelung-4 October 5 October Kerlung-22 Oct. - 24 fet.
† Saigon, Marsellies, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk. Subject to change without notice.
EVERETT LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Sium, Malaya, Rangoon, Calcutta and Chittagong.
J
"REBEVERETT"
Arrives Salls
July 31 from Singapore. Aug. 1
"LENEVERETT"
Arrives SJils
for Kube & Yokohama.
from Manik
THE CHINA MAIL, THURSDAY, JULY 30, 1953.
SHIPOWNERS PROTESTING Increasing Cost Of Ships In British Yards
HONGKONG
SHARE MARKET
(From Our Correspondent)
the Stock
Business' done on Exchange this morning amounted
to $343,314.80, Noon quotations
and the morning's transsekons
SULATES DUYERS SELLERS SALES 16 @ 1523
DANKS
H.H. Bank... 1520XD Kas Ana 151
INSURANCES
Canton
Unior
1.K. Fire
SHIPPING
_Asia_Nav....
DOCKS, ETC.
K. Wharf *Dock
Brovident
S'hal Dock
Wheelock
LAND, ETC.
I.K. Hotel
000 012
100
1.45
M
... 055 001 DOO POG
Some Cancellation Of Existing Contracts
The customers of the British shipbuilding in- dustry, the shipowners, British and foreign, have recently been protesting about the rising cost of new ships.
In some cases their protests have been backed by the cancellation of existing contracts.
This is an unfavourable environment for the ship.
building trade union's claim for an increase of soms 15
per cent in wages, for the days when shipowners were obliged to build replacements for war losses, perhaps. without meticulous regard for the cost, are necessarily
over.
ANOTHER
THIN DAY
Damper Thrown On Trade Hope
Tokyo, July 29. The Chairman of the Japan- Red China Trudo Promction Council, Kjonaight Yamamoto, declared today that the signing of the armistice in Kagen will not bring about the resumption of large-scale trade with Red China beoque it entirely de- pends on the post-ormistice political conference.
Me Yamamoto, who recently returned from a trip to Europe, Soviet Russia and Red China, said that in accepting Ameri- Act ald, ca's Mutual Security
agree on restricting Japan's trado with Red China.
IN COTTON Jopan should be careful tiot to
New, York,-July-20. Cotton trading today again proved to bʊ a klow affair.
Prices see-sawed narrowly on Apart from Japan, Britain's, Now the Immediate require-either side of the previous clore, principal competitors for shipments of Dutch shipowners have and at no time showed a de- building are on the continent of been practically satisfied, Dutch finite trend. Europe
The launching output shipbuilders have succeeded in Local realising in a thin market the
principal shipbuilding securing a good programme of closed the list on a reaction and countries for 1032 in shown in orders
ab final prices were off nine id ̧11 Finnish, points. for French, the accompanying table, com-Indoncalan und British owners, 400 41.18 pared with their output for 1930, for
New Orleans closed off ning. 4200 6.70 the last pre-war year for which specialised output of the
yards
21.60 22.10 500 4# 21,00
2500 ** 21.00
12.20
110 DR.70 3000 un 4.70
· S'hat Land......... 1.521⁄4μ 1,50 Humphreys
UTILITIES
10 COUN
10,70
+
Tiam ........ 34.00 23.20 1000 23
Prek Tram
(Old) ..... 4215
Penx fram
(New) 211s
the news strong
which have no important ship-for foreign tankers, mainly for on crops, and the private surveys
for example, apart from the 12 points. Traders found
smaller # 810 4500 ur 8.05 figures are available.
building dredgers, river nothing in R.K. Lund .. DOUG
lines. All these countries, except and harbour eratt, etc. Similarly, hough to get them off the side- the French yards have been able Norway, are. buliding ships for to affect the dwindling domestic wall for the Government report All hands appeared satised to export, not only to countries demand by socuring contracts building capacity of their own, the major oil companies. but also to other shipbuilding so, there are emply berths in countries. Ships for British 12.00
the French shipyards, which the 300 12.70 registry, for
build- example, ore Light (N) 5.00 5.70 2133 e coing in Japan, Germany and the ulders are only too anxious to
11. 27.30 27,40 100 27 Netherlands, and Britain
DEMAND DRYING UP 24 1000 v 21.80 building ships for most of these
countries cxcept Germany, Shipyards In Denmark have Japan and Italy. Of the ships so far been kept fully occupied launched in Germany last year, with domestic orders, apart from for example, no less than 53.3 occasional contracts for foreign
Star Forry
100
C. Light 101 12.50 12.70 13300 er
13.20
908 7 27,40
Electric
Telephone INDUSTRIALS
Coment
1000 19.40
Aug.
Rupe STONES, ETC.
17.00
Aux.
& for Singapore,
Rangoon
&
Penang, Calcutta,
Dairy
221 22.70 1700 2260
33 Go 23.00 400 G 23.90
Crawford
24.10
Ewo........ 3.63 2.70
(Accepting cargo for transhipment Kobe/Punan and Kobe/Okinawa)
EVERETT STÅR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Porta.
LAO
In Port Salls
Loading
July 31 for Singapore, Port Swetten--
ham, Penang, Madres, Colombo, Bombay, Karuchi, Khorramshahr, Basrah Bahrein.
"STAR ALCYONE”
Arrives Sails
Aug. 21 from Singapore.
Aug. 22 for Naho. & Japan.
(Accepting cargo for transhipment
Kobe/Pusan and Kobo/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A
'Queen's Building, Tolophane 31206. Chinoso Department: Telephone 28293.
PENINSULAR
SEPARABIT
Walion
Lane
COTTUNG
Textile Corp. 300 5.75
MISCELLANEOUS
Yangiate
Yangtze (N) !
ANOTHER
RALLY ON
WALL ST
stocks
in an
losses selling.
and
other
frage improvements, new
list of
U.K.
World total
Japan
Gerniany
Sweden
Netherlands
France
13
LAUNCHING OUTPUT-
(tona gros)
between now ផ Even August 10,
Most of the business appear- ed to originate among the along with a little locals routine buying by domestic mills and shippers.
Crop news was considere-1 favourable for normal development by the experts
plant
Tomorrow's mid-June parity price report is awaited with interest since it will be the Brial basla
for calculating the Government 1933-4 loan rate.
An interim minimum loan has been established at 32.70 cents per pound for middling 15/16 cotton based on a parity of 34.22 cents per lb.
If the June parity should go above the level, the new loon rate would be proportionately increased.- United Press.
1932
4,195,578 1.302.448
1938 3,033,593 3,030,273
071
441,720
480.707
450,349
285.901
Z39,945
213.541
47,200
Italy Denmark Norway
93,601
103,306
- 18#,430
24,654
Source: Lloyd's Register of shipping.
apol
Oct. Dec.
SO AS
have
脊
|
The
is suffering also from
are
signa
Prices of cotton future: closed today na follows:-
Oct.
34.50 om.
13,88
24.18
5443 nom. 343
33.56 nom. 8353 nom. Unked Peres.
NEW ORLEANS PRICES
New Orleans, July 29. Prices of cotton futures clored
Spot
33.14
24.08
3443
34.40 bid 34.24
23.70 bid
-United Presl
In Chicago
Chicago, July 20.-
Analys's of Kabutocho Japan's Wall Street, agreed to
FOREIGN EXCHANGES
Canada
IN N.Y.
Now York, July 20.
England-omics!
ре
unofficial
ay faizture 90-day falure New Zealand Australia South Africa Belgium
Denmark Franco German Heliang Italy Norway Portugal Stain sweden Switzerland.
....
03.01%
1.70-1.13
2.231 F100-4 2.0115/10
0200%
.1455
.0028
.2005
184
0910
luati
10200
343%
Afiadie Bat
2.30%)
Latin America Argentina
Brazi
olivia chilla
Egypt
Tran
Turkey"
day that despite the signing of Columba
Korean armistice, higher Cuba the
Mexim quotations may appear this
Peru autumn due to a possible ensy Uraatny money market.
Vahetuol
Far Eas
for the
4020
.1750
3280
300 you to US! -United PMI.
JAPANESE BONDS
They predict that Government India
Pakistan will begin to pay for more than
Hopakong 1 receives Erwin around tho Indonesia coming autumn as the result of Singapore the certain Dlet approval of the | Jam so-called "Inflational" national budget
present Rocol year,
They pointed out that traders tre pinning their hope on MSA aid,
Ior special proguremesit Korean rehabilitation, America's. guarantee on its spending Japan during the forthcoming two years and Japan'a tratta with Confols Red China-France-Presse,
10
London, July 29.
Japanese
bonds "A" (45.
"B" (45.
(65
HDS.
of 1800)
of 1010) 71% of 1907) 124 of 1024) 101 (38, of 1030) 145,
60-8/10
United Press.
Remarkable Feat Of Industry
In United States
The prodigious rise in American Industrial production was halted in March. Since then it has been maintained just below the peak peace. time level reached by the end of the first calendar quarter.
That in all conscience is a remarkable enough achievement. It means that the Americans have been steadily turning out one-tenth more goode, than in the same period a year ago.
1952 itself was a year of in- dustrial stagnation, in the United States; the volume of output then hotely reached the level of the previous year.
On the other hand, the weak- nesses in this picture are equally Impressive.
First, there
is
the CX-
In order And a record of treesdinarily rapid growth of that which is now Being witnessed, one has to go back to 1951, when the initial impact of the rearmament pigramme produced another 10 per cent -riso-in-Industrial-output.........
HIGH DEMAND Thus the problem
-American
Taking only instalment debt-- that is leaving aside tho pay- menila due on retall charge accounts the increase in the total obligations incurred by the buying public "It"the" past year is over 30 per cent."
Obviously they cannot, unleas there Is Home revolutionary change in the US. credit struc- ture, continue to mount at the
per cent of the tonnage was for owners, but sooner or later they March 1951 export. In Sweden the Aguro i will return fibly Into the May was 60.4 and in the United competitive field..
Nor- Judy Kingdom 31.8 per cent.
weglan industry, although it is Dec. New York, July 20.
being expanded, cannot hope to Industrials carried their
MODERN SHIPYARDS ---
satisfy even the minimum re- market leadership:
Most of the European shlp- **** through the
quirements of Norwegian ship- second session today, pacing yards, except those in Sweden,
OWNICTS; but Belgian shipyards, advance which were seriously damaged during on the contrary, aliqugh limited today as follows:- wiped out about half of the the war, Particularly those in capacity, must depend on
suffered in the past truce France, Holland and Germany export orders to keep going. Dec. on Dot, itself. The destruction was so Italy Industrials cloved 1.30 higher ins it was possible completely Simpty berths, despite the efforts July
thorough, in fact, that out of the
March 1051 on average as oils ran up a
afford Oct. point or more, and steels, motors to redesign the layout of the of the Government to
Anancial support to prospective Dec. install ta. and groups improved yards
new owners. machinery
to tako the
Everywhere there fullest possible advantage of Rails 46 cents in a long full profabrication methods of dem
the In Sweden, 100, demand for shipbuilding berths Grain Prices growth on a similar scale to consume indebtedness. Utilities were 24 cents higher, shipbuilding.
is drying up, and this means o The rise was achieved on amali where there was no war damage,
perlod of shipyards
Intense the volume, however-an even ono
been competition for the orders that milijon shares compared with reorganised on modern lines, Bo are going. In these circum= that the British shipyards, which stances the three vital factors 1,080,000 yesterday.
It was a continuation of the were also brought up to date are price, delivery and quality: recovery which
late youterday during and since the war, no and of these the most decisive Prices of rain closed today as pulled the list up sharply be longer have the advantage in is inevitably price.
follows:- fore the
Wheal (No. 2, red, per Brokers said this respect which they enjoyed British shipyards have not lost bushel in cents) close, the market apparently had, ad- during the reconstruction
period
their lung-standing reputation spot Justed to the Korean truck
1321 Continent. on the
for
quality in shipbuilding; but Sept. 1984)(H) 103%2(L) - The demand for new ships to many foreign, builders can viestach 1954 While many uncertainties re- main to plague the market as a replace those lost during the with them in this respect for May & ORIENTAL |
is worked out, many war, and to provide sulfielept many types of ship. peace Wall Street brokers feel the tanker tonnage to keep
pace market may take the opportun-with the increasing world con- Their reputation for prompt bushel in conts) lly to consider the good sumption of oil, has ensured fullness of delivery, however, bas Spot of the world's growing red recently because of the pec use Dow Jones closing averages: end of the war, except perhaps and their spasmodic flowMay
shipbuilding capacity since the pronounced shortage of steel March 15A'
Bye (Prices the steelworks. 109. In the United States, where costs promises of Improvement are suly
Even if
cents) 90 high 05 to 48.89 are
De fulfilled, it may be some time sept 105.37 uneconomical for shipowners before the effects of delayed
out in receipt of special subsidies delivery wear off.
Dale (Prices par bushel in 05.12
'cents). Comm. Prices Inex
180.00 from the American Government,
Judy
744-34 The 1052 launching output of
Sept. -United Press,
SHORTAGE OF PLATE Japan and
Continental yards, it must be example, waa composed mainly noted, do not seem to have bushel in cents) ot replacements for the national suffered to the same
extent sep. Sport or of tankers built for from the altortage of shipbuilding Nav. export,
France's output was plate.
This is
Jan. 1954 parlly becauSÓ entirely for rebuilding
*** | March the their overall
aromag not so large,
erall requirements French fleet.
and partly y because Barley (Price per bushel CHANGE IN SITUATION they do not seem to have had in centa), These
replacement pro-any difficulty in obtaining per-spot grammes, however,
buy abroad, are now mission to
from coming to an end, and a pro Japan and the United States, for nouneed change in the situation example, regardless of price.
STEAM NAVIGATION CO.
R.M.S. CORFU'
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 31st July at 12.00 noon
UNITED for the
KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.
Passengers are requested to send ALD baggage to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 Gate,
· CANTON ROAD ENTRANCE, by NOON on Thursday, 80th July, "1953.
SPECIAL`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's slings only. BAG- GAGE COOLIES WILL NOT BE PERMITTED TO ENTER THE WHARF.
EMBARKATION: Passengers should embark between 9.80 and 11.00 a.m. FRIDAY, the 31st July, 1958.
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
reports Carnings favourable items.:
30 Indusclels
20 rails
15 utilities
06 stocks
40 bonds
anti
270.44
Sugar Prices et
In N.Y.
to
bà
Germany for
New York, July 20, Work! sugar futures close today two to six points lower
becoming noticeable. In One of the chief advani with-sales of 571 contracts.
shipbuilders hai Domestic No. 8 was one point Japan, for example, the latest for British lower to use point higher with gramme has been reduced to as cost is gradually rising, 11 is
"zational" shipbuilding
pro always been, and still is, the price of British steel. Although sales of 300 contracts. Domestic
alow-mere dozen cargo vessels; and its contracts raffected the
despite a
ninarked reduction in Continental shipbuilders, how
still the cheapest in the world. down in redmary demand. The quotations recently.
faw
foreign closing prices were as follows:-orders for tankers are coming
often offsel Contract No. 4 (world) •
cha la. In fact, well over half the fa September
3.54 bld
labour costs. berths in the principal Jogancso
only October
3.45
shipyard Continental 370 nom. shipyards are now vacant.
works 3.33 bid In Germany, Allled restric-generally work much longer 1.33 bla 328 nom. tions on shipbuilding delayed hours in France, for example,
January (1054)
March May July September
Spoi cents per Ib. 1.0.b.
Cuba!
Contract No.
September
November
January (1954)
can
do
Coru (No. 2,
Sept.
Boybeans
pf the economy, now that the expansiva impetus given to it by the 2014-1
rearmament pro- 287-206
gramme is wearing off, is how 2015-1 to find u market for a volume yellow, per
pf output which is onofth larger than it was throw years 100 $4734-14735 480.
DATT
มน
per bushel in
་
(Prices per
200 nom 25612
24754-16
unquoted! New Work oue-00 The Bock, 12.70-United Prog:
TIN
LONDON
MARKET
London, July 30. this mornicy
The tin market was neglected with spo tin marked down £3 to £370 per lon and three months in down 10/- to 237344. Turnover wis only 10 tone, all for cash. The closing prices at the end of the official morning session were as spot to, buyers
3. nom. the building up of the dry cargo the normal working week is of follows:-
feet, a pituation which the 40 hours but they do not have ip, their best the same expensive trade union Germant turned in fatin on restrictive practices,
3.58
4 **
|advantage by
886 bid 3. Bld |modern fleet of extremely 5.78 nom. efficient. vessels which
is now 8.65 5.50 bid
March May Apot (cents per ib. c.l.f.
[NY ex-dock) July
8.00
September November
8.71. 12.
in nam -United Propy.
PRODUCTION COSTS
STO
sellers
usine
Three montiu tin, buyers
Busine
477EL 15774% 5771
Bollere
In the coming months of Bettlement almost sufficient to make the growing international competi- host of existing finding pro- tlon for a reduced number of
i spects, particularly
same pace,
VERY VULNERABLE
Worge all, the greater part of the recent increase in instalment debt has been for the purchase of motor-cars.
Perhaps the most impressive thing in the experience of the past few months has been tha Thus the industry. which way in which US consumer many
would regard as demand has promptly taken up the Lingh-pin
of American by easier sup business prosperity is it an ex- plies of materials.
The offstandig demonstra
bc- Hon of this calence of Amer- can demand has been the boom In the motor industry.
But other industries making consumer durable goods have benefited too.
METAL GOODS
At the mumo time, the ro covery in texule enlou, which has been a world-wide: phonor menon, has added to the volume Į GLU.S. putput
ceptionally vulnerable position.
It is vulnerable not only cause its current rate of output seems to depend on increasing an already large burden of con sumer indebtedness, but also because any drop in people's earnings la likely to mean more than proportionate drop. In demand for new cars.
D
There are, in fact, already. some slags of strain: the current output of cars exceeds the rato of aboprption by buyers, reinil stocks gre unusually high, and "It Is," however, the métal second-hand car prices. have goods Industries which have been falling.
been responsible for much
the
gröstes!"bart" of the 10 per cent
ANOTHER SIGN
increase on last year,
Another obvious sign of Their prosperity is, of course, danger at the moment is the by no means exclusively due to rapid accumulation of unsalable the buying
spree in consumer farm surpluses and the drop la durable goods.
Increased output, of capital farmers' Incomas caused by it.
· This is admittedly a process goods, notably machinery and which has been going on for electrical equipment, have con some time: in 1952 total farm. frikujed largely to it, and the Rustained building boom has income was 6 per cent dowis on helped
order book decline of the same size is cx- oks the previous year, and another hal
1053iza Indeed, the second important that id potentially a more feature making for optimism in disturbing surplus is in stool,
to
the current UiB. 'oconamie scena
le the evidence of rising demand 4774%
tor industrial plant and equip United Press
compell-shipbuilding contracts, produc London Foreign
378 nom. Ugg with upeconomical war-tion costs are going to make all
bullt ships.
Lus! year, then the difference between work and shipowners were
were anxious to payment 3. British!" ship- sure the reservation of building
will no longer be able berths, the Germans were able to pass on increased wage
Exchange
costs New York to secure many contracts from to their customers, and even Monter."
Amsterdam
Exchange Rates crema particularly far when pront marine are cut to
-Business was done in the ⚫ local
unofficial exchange
tankors; but they have suffered the bone there is Utile room left one market this roccally from several cancella- for trimming quotations to the rich moming at the following rules:tions.
level to which foreign com- S
Copenhagen France and Holland
pelliere
1}.sk" dollar^{per #3}. Sterling neta (për 21).
Indonesian guildery "(per 100)
Blani Iicals (per: 100) ·
Ringapore (Birmita)
Indo-China piastres, ¿der 100)
18.33
mayda prepared to stockholm
19.00 particular, have been clever in descend when present building Deutsche Marc
1.78
Financial „Timer,
17.00 their timing of the transfer from les come to: „an- and Blocked Mark
oldomestic to export bullding.
London, July 29.
indet.
+
WEAKNESSES ·
which seems. Inevitable by the end of the year if the new steel Is fully used, oven as- capacity suming that the demand for metál goods; remains stabilo or increams alightly. The latest offlelat (estimate): "Yet none,nfibes obvious based on an analysis of the in-dangers bederis to affect the vestment plans of buinémuền, current mood of buoyant oplie palts the total éx páñditúral in valen, in U.8.. builnons, and this fhin field during thà fist nine | paychological factor in Baolf an thorth of 1859 7 vor cons important element im way jud
Judg above the corresponding
oing level ment of the situation of the previous year.
not appear to This projogled expenditura is, by our flatened by the throat. moreover, ifmily: pound on # or surpluses at hay used to bec higher level of sulane prunte,, But that does not provide a a trend, which will no doubt reason for the rest of his world. United have its effect in sustaining de to fear them any. lets---The
„mind' in other falls too.
Financial Times.
EXTEL