MESSAGERIES M
Queen's Bldg.
Outwarde "VIETNAM" "CAMBODGE"
H&mewards
"VIETNAM”
"CAMBODGE"
THE CHINA MAIL, TUESDAY, AUGUST 11, 1958.
MARITIMES Wage Increase
M
PASSENGER/FREIGHT SERVICE- ··
Lænven Margelten
....Яalled
... 21 July
Leaves fonakong
.:25 August ***Aug.
Hongkong
For
12-14 APE. Yokohama to Aug.
Due Mortaillon- Vla
17 Sept. 3 salgon 24 Nept
Salgon
vis Marsellies to all Mediterranean & West Africa portą. vix Djibouti to Madagascar.
Outwards
"COURSEULLES"
"AURAY"
"IRAQUADDY"
Howarda
"MEKONG"
"COURSEULLES”
"AURAY"
"IRAQUADDY"
FREIGHT SERVICE
Leavra
... Europe--Balled
• Rurope-Halled
Antwerp- 1 Sept, Graves
•Reclung-20, Aug.
• Keelung→ 4. Get. -Horlunf27 bệt. ..Keeling-1 Nov.
Hongkont
2 Sept.
21/20 'Sept. 12/14 Q5. Hongkon
22 Aur.
Oct.
28 Det.
* Not.
For
Japan Japan Зарад For
Saigon, Marseilles, Algiers, Oran, Tangiers, Casablanca,
Le Havre, Antwerp, Rotterdam & Dunkirk.
Subject to change without notice.
m.v. “VIETNAM”
will sull for
YOKOHAMA AND KOBE
on
Friday, August 14, 1953,
EMBARKATION:
BAGGAGE:
at 7
p.m.
Passengers are requested to board the vessel between 4 und 6 p.m. on Friday, August 14th.
Baggage room, hold and cabin luggage have.to 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 Thursday, August 13th, 1953.
CABIN BAGGAGE: cannot be accepted on board before embarkation time. Passengers will therefore have to collect their baggago from the godown between 4 and 6 p.m. on the 13th August, during which period cabin baggage only may be registered. Passengers are requested to note that ALL BAGGAGE must be registered as prescribed above.`
Compagnie Des Messageries Maritimes Queen's Building
Tel: 26661
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 Soils
Aug. 23 from Singapore.. Aug. 24 for
́"REBEVERETT”
Arrives *Sails
Kobe & Yokohama.
Aug. 28 from Manila, Aug. 29 for
Rangoon
Singapore,
Penang. Calcutta,
(Accepting carco`for transhipment Robe/Pusan" and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo China, Siani, Malaya, Colombo, Bombay, Katachi and Peraian Gulf Porta.
"STAR ARCTURUS”
Arrives Sails
Aug. 19 from` Japan, Aug. 10 for Marlin.
"STÄR ARCTURUS”
Arrives Suits
Aug. 24 from Manila. Aug. 25
for Singapore, Port Swetten. harn,
Penang, Madras, Colombo, Bombay, Karachi, Kharramshahr, Basrah
Bahrein,
“STAR ALCYONE"
Arrives Sails
Aug. 25 from Singapore.
Aug. 20 for Naha & Jagan.
(Accepting carzo for transhipment Kqbc/Pusan and Kobe/Okinawa)
6
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophone 31206. Chinesa Department: Telephono 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.
HONOKONG AND KOWLOON-
TEN CENTS EACH
Page: 9
Drive|| Pacific | BRITISH SURVEY
Economic OF JAPAN'S
Described As Threat
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock
Exchange this morning amount ed to $277,024.40. Noon, quota- tions and the morning's trans- actions:
BHARES DUVER: SELLERS BALES DANKS
HK Ink XD 1623 1540 East Asia
INSURANCES
151
Canton
249
HON
105
137 610
IIK Fire
150
SIILPPING
As Nav ... 143
DOCKS, ETC.
K. Whort
Provident
Wheelock ..
LAND, ETC.
17 250
1250
1300
6.0 8.10 2000
IK Hotel... 1.50 HK Land S'hal Land Humphreys UTILITIES
Train Peak Tram
(0)
1
Peak Tra
(N)
12
To
Exports
The Chancellor of the Exchequer in a speech called urgent attention to the threat to the whole future of our export trade, resulting from the current drive for widespread increases In wages. A general rise in wages on the scale for which many trade unions are now pressing would destroy the present competitive price margin of British exports.
It is right to emphasise the keenly competitive markets both fatal character of this threat in the dollar area and in Western with all possibio vigour.
Europe, the aggregate, value of But equally the Chancellor's British exports in the first six statement
to underline months of this year has risen only the position of strength of 3 pcreent above the relatively
serves
Britain's export trade as it stands low level of the second, holl of at the moment; the competitive 1052. price margin does exist.
**
That in itself is, of course, not
Why then is there such wide- Compared with the first half of spread uncertainty about the last year, British export earnings prospect of fulfilling the objec- In the latest perfod were sharply tive, reiterated by the Chancellor down. 11.00 recently, of achieving a' sub- 12 stantial increase in the total of 8.65 British export earnings even on
the basis of present prices? NON-STERLING MARKETS The scepticism derives in large part from the experiences of ex porters during the past few
25 1200 24.00 months.
1.40 11
104
21.00
42
21.10
C. Light (0) 12:40 12%
021 # 12.30 3575 or 12.40
C. Light INI 8.35 8.40 27 27.24 Electric Telephone. 31.30 21.00 200 21,00 INDUSTRIALS
STORES, ETC.
Cement .... 18.00 18.0
500
1100
18.70 18.00
22.20 221
100 7.30
23.30
1500
500
Dalry
Wation
L. Crawford
COTTONS
Texile Corp. 5.60 52%
In spite of a highly successful sules drive hi some of the most
EUROPEAN OUTPUT
OF STEEL
surprising. The major effort of exporters in the past 12 months has be
been to find replacements in
non-sterling 'markets for the
business that was lost to them when some of the most important sterling area outlets were sud- denly closed In 1952.
THE RESULT They have in many instances been remarkably successful. And the result is that a lot more
|
Crisis
Warning Given By U.S. Journal
ECONOMIC LIFE
Japan has been made the subject of an over- scas economic survey issued. By the Board of New York, Aug. 10. Trade. It deals with events and affairs up to the The U.S. was urged to
1 of 1951. explore the possibilities of Pace Treaty lefe Japan with an ad
an ocean-going.. Facine aren where, it was capacity Japan expects to rate her merchant flect from rendering assistance to the
shipbuilding capacity of 600,000 tons annually; with that said, an "economic grisla”
two to four million tons by 1055. For domestic account, appears to be developing on
berths for between 300,000 ? and 500,000 tons · will be the heels of falling markets, and mounting coate of Im-
ported manufactured goods.
The Influential business daily. Journal of Commerce, sald buch action is very much in the in- terests of the United States, and would. counter-act Communist propaganda blaming the colonial imperialists powers for the plight of those
nations. The editorial said in part: "Now th
that the
(in Korea the nightige has stopped, it is only a question of time before the realisation is fully brought home to Washing- ton that rew crisis is brewing In the Pacific, this one more than
in nature. my Buntin, Indonesia, Indo-Ching and Thailand are sil involved in it and seriously so But neither die Philippines nor
India is
dontirely immune nor Japan."
"In o offsetting Communist
Pro
paganda 'in the Pacife area," clttorin said, "tho
Important thing is to counter, within the means available, the growing on- pression that our policy in that
largely negative
ател La
for tons
upkeep and for the provision of coastwise tonnage. occupied, the balance being available for repair and
"This leaves a capacity export of about 100,000 annually Japanese
silpbuild- Ing prices, closely following the prices of Japanese stec), are now about double those of the United Kingdom; yet Japan
present obtaining export shipbuilding -orders because of early delivery dates
Assuming by 1955 her mer- chant fleet reaches
the four. million tons mark, Japan may have to (a) continue to
crease her ocean-going" feet-to-
д
Sugar Trade's Problem
London, Aug. 19.
a considerably higher figure, or Britain's sugar, trade is (b) concentrate surplus hip- studying methods of im- building capacity on export
others rather than let it De plementing the Common-
to
ments/
Government depart-
idle.
wealth. Sugar" dgreement "In the event of (a), Japan without day-to-day control will be a serious competitor to by all nations of sea; in the event of (b), che, will be a serious
The trade is in contact with competitor in shipbuilding for export-with the United King- the Commonwealth producers,
and talks with British Govern dom, particularly
By
ment 1955 the present demand Departments ore. Ikely for shipping
fence thortly after sugar rationing ends created by defence
beon in the United Kingdom! towards British axparis than a year ngg) concerned more with explaining / require "Japan will, in
may have
that the end of
of Seplopher, satisfied are genuinely requited in terms what we cannot do, as with
would These
with the carte, be forced to reduce her instead of being
deal of Bard cash,
for a minus thark against commodity agreements than what present chipbuilding costs, and whole question of treesom merely a
wo"can." somebody's sterling balance.
may well "Certainly it should be worth
Ho resort to subsidise-augar trading in Bellali. V
The trade is now working on this. That is an important gain, and looking into the subject to usver
Issue of the "Japan ways to ensure ́that the full. recent it has only been possible because tain whather, without incurring Maritime Journal furnishes in- quota Britain guarantees to buy British exporters have been able tabustle costs, more cannot be
annually at fixed price urider the teresting data and comment on to maintain thoroughly competidoric to encourage the marketing the foregoing. At the beginning Commonwealth sugar agreement Live prices and at the same of the area's staple products in While Britain's steel out-time offer greatly improved de-the
s of April almost three quarters 1,040,000 tons can be marketed West, to extend
U. S. of the dips of 24 of the latest in competition with free sugar. livery times.
Currently the price of this technical d put during April and May
I assistance, to train the The mood of self-congratula- young men and women of the beauty yarns were stated to Commonwealth sugar is roughly be empty. Unless present con-18 34. per owt to.b. compared broke new high records, in tion induced by this reflection is, area in Amerkan ochools, and dillons Improve the percentage with 28-201. ruling in free world other countries it has re- however, disrupted by the re-
to extend de minder that
sufficient may rise to $0. other countries, credits
possibly
to mitigate
flute the worst
THE REMEDY notably Germany, have been able effects of this developing crials. to increase their exports to the
out it turns out that some non-sterling markets by much
·Indeed be can more than Britain
tangible help during the offered, we think. Mr Dulles same period.
do
than sponsor some sort of Asian or East Asian economic conference to explain dearly how far we can go and why we cannot go further: ~This would not solve the area's prob- lems but it ought to help,
concluded. United
Traders Inmained stable or even
Singapore Complain
This is made known by the United Nations Economic Com mission for metal in lis quarterly bulletin of steel statistics, Just published.
Why
cannot Eritish exporters | do as well as the Germans?
Part of the answer is that in particular markets, in the' dollar botter. In other places, where area for instance, they do much the struggle is most direct nerce, in Scandinavia for instance, they manage to maintain their hold on a'much higher pro portion of the total trade than before the war.
and
Press!
In April Britain's steel pro- duction was at the rate of 13,431,000 tons yearly and soared to 18,625,000 tons in May Singapore, Aug. 10.
cditorial sayIn Western Germany output Many Singapore tradera they are being ruined because of dropped steeply after reaching a the uncertain market for rubber post-war high in the first quarter and tin. They are undecided of, 1953. about
advantage of the taking
The Western German produc- relaxation of the ban on Imtion in the first quarter was only than from ports
tons lower Japan announced 1,000,000 three weekš ago,
Mr W.H. Walker, Controller
But during the month of May of Imports and Exports, sald Western Germany produced at there was no rush for licences the rate of only 13.880,000 tons
cameros,
Britain's.
THE ADVANTAGE Any attempt to explain the contrast in the aggregate export earnings of the two counteles must, moreover, make allowance
WOTSC
the
BIG DROP IN COTTON
MARKET
New York. Aug., 10. Cotton futures fell more than a dollar a bale today on selling
to import Japanese goods as annually-4,545,000 tona less that for the fact that the compoeltion traders appeared to be cautious. Britainritish coke exports for of British exports is much more
Some traders, however, have The shown interest in Japanese sheet the first quarter rose by 16 par heavily weighted by textiles, for remains com- and window glass,
dest to 4,616,000 tons. Western which demand
Watively wenic binoculars and toys.
Demand is fair for dried ash 000 tons were almost half as figh
crop forecast exceeding loeq! and salted vegetables. Galvanised again as in the same period for present circumstances not only sheets," padlocks, bicycle parts 1952.
in the composition of her export expectations. coal and trade
in is normal trade, but also
At the close, the list ruled off The six Schuman and accessories are among goods
3 to 21 points-25 cents to $1,55 for which import licences are steel nations (Germany, France, geographical distribution.
1 bale from Friday. It had Her traditiona now asked.
Belgium, Italy, Luxemburg and
economic the Content of opened unexchanged to oft five Of the quota of Straits $70,- the Netherlands) show a steady hinterland is
except for Europe, where she sells about points. by the Singa- drop in production, p00,000 allowed
New Orleans closed four to 23 of her exports; for Japanese Italy, since the cool and steel two-thirds pore Government
went into action Britain's economie hinterland, points lower.
The
Government estimated texilles, local traders asked for community
daking approximately one-italf of
the 1053 'worth early this year.
cotton crop only. Siralts $24,000,000
her total exports, is the sterling 14,500,000 bales, off 3.5 per cent up to the end of June-Reuter,
Last
SIPP 'year's Export demand
fallen from
15,130,000 bales, but some sharply in the second, while it has remained fairly buoyant in 500,000 bales larger than traders
had
T expected. [the first.
Traders indicated that a crop of this size would call for Federal
rext marketing on year's crop because of shrink- Ing export markets and growing surpluses.
German imports of iron at 2,596.- parative has the advantage in touched off by the Government
Sugar Talks
Continuing
London, Aug. 10,
The 35-nation sugar con-
The Rubber Markets
Brea.
FLEXIBILITY
to
The essential problem would, Singapore, Aug., 10. Indeed, appear to be the speed The rubber market was quiet with which British exporters are rapidly changing market' con- ference, working out an agree. during the whole session of the able to adjust themselves ment to control price fluctu- day with sellers reserved.
Rubber futures prices closed ditions.
Germans have shown The tions, today began an examina- tion of what stocks should be as follows:
No. 1 rubber per 16. Aug. 1.641 themselves exceedingly flexible
this -September
They would say respect. 04-64% that October
have be: their they had rubber per lb. Aug. 8212-63
held by signatory countries.
The delegates also alscussed
A sub-commitco today biso continued its alscussion of the problem of adjusting the amma BUZAT
gat export quotas
The London conference atms at Imposing export quotes and fixing a price level to maintain fair labour standards in the in- dustryRouter,
Blanket erepal (17)
No. 1 HSS spot Business
Beltiement
101%
1814-
of this
at
pro-
only
ar-
monites.
Plans now under considera- To remedy, this situation, in tion by the trade would, bava addition to the present
Iwo
similar separate markets gramme of constructing
United States to present 120,000 tons per year, an extra ran
rangements one for fixed- 200,000 tons may have to be an
be price Commonwealth sugar and bulit. including 130,000 tons of
the other for free sugar. 70,000 ratio would be dry-cargo carriers and
axed firm the
for tons of all · tankers, and finance for the construction of the amount of fixed price-and- the 200,000 tons may have to free sugar which British in- be raised by an appeal to public porters could bay, subscription.
dy would be statutory body A The banks, however,
Act up which would isme that the public will not respond, certificate
cates in these axed pro- and that the only recourse wil portions. Importers would then be to Government aid to ship undertale to buy
full builders and shipowners alike. amount of their quola of fixed.
finatico price sugar. They would not be The banks at present 70 percent of the cost of new compelled to buy their full cargo carriers, and are seeking quota of free suget, authority to raise from 20 to 40 Certifonics for this would be percent, the amount of the freely marketable.
EQUALISED PRICE finance which they at present...
fear
the
however,
advance for tanker construction. A system of weighting 'import A concurs licences also is being worked out buliding or repair. futaished by the trade to ensure that co- by the experience of the US. finers pay in equalled price for Hawaiian Steam Ship Com all imported sugar, pany. It appealed for tenders
The chief diniculty in the way for the
of three of
of of it free market for sugar, other thethan the fixed-price Common-
és the dollar pa each of 10,554 gło (ons
gross
and lem and of the C4 type. By the ad sterling, as the bulls of the dition of central Ecction of world's exportable
Californian and the Hawwa waalth me nood to protect
supplica
opening of
100 ft.
the deadweight of the
is dollar sugar, three ships was to be raised free markoot pught mean by drain from 14,040 about 20,000 tons
of dollars by heavy cott-currency 10 enable them
carry minerals and/or oil in
of
OL
A crop the size of today's forecasts plus 5.500,000 Sales carried over from the preylous year's
erops would bring the season to total supplies this 20.105.000 bales.
Domestic and export needs
London, Aug. 10.
but
ensure
saics of sugar for which British The Japanese tender was for importera paid dollars, qua
per ship in the face The trade is currently work-
to safeguards mpion from one Frenching on yard, one British yard and three dollar sugar is suld only for dollar or, alternatively that US. yards. The lowest tender
amounts from à U.S. yang was $3,173,- any
whileh could 113 per ship. The contract is officially be sold, for soft cur to be carried out in Japan, reacles equld be limited as re- Liverpool Journal of Commerce, quired.
trado belleves futures
The
Trading is essential for pulcient working of the free market. It
Grain Prices only actuals were dealt with the
In Chicago
The prices
CONTRACT FOR
In cents)
Boot
180
LANCASHIRE
Bapt. Déc.
March 1994
"Elay
181
· 187}={\" 191 1914-192
(No. 2, yellow per bushel In cents)
159 1963-1 1330-16
fa
building up goodwill acting on behalf of the
London,
Chicago, Aug. 10, export-import relationships be- No. 3 rubber per ib. Aug. 01.01% survival has depended on capturare currently estimated of $13
of grain futures tween members and non-mem- No. 4. rubber per lb. Aur Baying a foothold in odd corners of million bales. Some covering bers. These aspects of the pro- pot rubber unbated 27. mi-
markets where
of claims had was "in tvidence at the "close, today closed as follows' ---- . 65-08 1
out. But it traders reported. United Press. Wheat (No. 2, rça, per buthe fested
five-year world commodity No. 1 pale crope
been 71-70 may be that in -United Prem. were discussed at com- Potten meetings
LONDON MARKET
rate the survival, or at any
The London Aug. 10.
prosperity, The rubber market was very country depends on the develop
similar talent for quiet today. Futures, closed as ment of a follows:-
"market hopping."
Platt Bros (Sales) Ltd., Old-Com That might well mean a ham (Lanes) have secured pot radical reorganisation of the contract for cotton spinning Beat
of Bellish, export solos | machinery valued at £850,000 No. 1188 General market
not in Telt basis DEMIJA MANI! 10%
by uch'n "Way
placed the Crown Agents Estalo crepe
thick.
the well-tried for. the.
Colonies In
United sellers
22
methods
of Estate crepe agg, thin, sellars _2136-
in -United Press.
markets, but to Nations Korean Reconstruction long-term
op addition to them. Agency in New York.
directed sup is strictimes
The contract provider of the Gov
the Government' representa
spinning and winding machines tives of British commercial in together with accessories for tercets abroad, and at home, for three cotton spinning mills their failure to
exploit these Mexico City, Aug. 10, transient export opportunities. The first concrete step to- Perhaps too little is mald about **wards the formation of the emperomental Imitation of Indo-China plustres (per 100) #725 Mexican merchant marino will the Brith
businessman Film- be taken during the next for self-The Financial Times. Built For Russian months according to the Corl-
federation of National Wipers') Flushing, Aug. 10. of Commerce,
Exchange Rates
Business was · done in the local Anofficial exchange market this morning at the foligwing rates:-- V.B. dolar (per #1) ...ETCOSULES Sterling notes (per E1) DATA. Indonesian guilders (per 100) 10.50 Blam Ticals (per 100) Bingapore (Biraita)
Mexico To Start A Merchant Maring
The President at The first of three freighters
the Can- being built here for the Baylet federation has announced that a Union under the Netherlands, comeday will be formed with an Russian trade agrecinent --- I the initial capital of 16- 6,500 ton, Lena; -- has been pešos, ¡ADITTY-One por cyst' efe
launched here by the wife of stock
I will be Held by
the Soviet Embassy's Cornmer- ernment and 49 per cent offered cial Representativo in Amster to the public. Chiba Mail dain-China Ball Special
Spesial.
JAPANESE BONDS:
Japanese bonds
London, Aug. 19.
array!
(Tokyo diss Di
TORTO, ES of 1911):
Doc.
March May
(Prices per cents)
Sept.
Doc.
How for
Osla
Prices cents)
Sept Dec.
totalling over 50,000 spindles China Mail Special
London Foreign
New
Exchange
market would still be largely dependent on New York owing to the importance, of hedging in world suger trade, trade
quar ters my. They add that, a turn- over of 1,000,000 ton yearly In fact the figure would probably be acarér 1,500,000 tons would provide adequate basis for futures trading. - China - Mail Special.
LONDON TIN MARKET
London, Aug. 10, bushel
The tin market was very: steady today. Spot tin jumped. 12434 120 "Lay to ''£586 per ton; and
rosa 23 per bushol in three-monthis th
to £6834 Turnover was 03 tons 70%
For which 2p tons were for cash. 4743-14 Prices closed as follows: bustiel spot tin. Buyers
ellers 88551⁄2 nom. | Business
Soybeans-(Prices, per
'H' conta)
Epot
Sept.
NOY,
Jan, 1994
Starch
Three months tin buyurs
seltenais tusitors
Bettlement
• 24814-19
Bartoy-(Price per bushel in
Spot
10,
New
stour.
unquated.. Iblack,
--United
NY Stock Exchange
New York, Aug. 10%- Dow Jones alosing averogen Wall Street were as
fission In Taipei 30 Industriais
20 Rails
· Takel, Aug; 10% 15 Uinities
A Japanese economie musión 65 Stocks
of six arrived: today." The | 40. Bonds
a week.
275.82
105.00
*******
*$049
·10771
9540
155,26
United
| mission will stay in Taiwan for | Comm. Prices Index