MESSAGERIES
P.O. Box 53, Queen's Bldg.
M
Outwarde ́"VIETNAM"
"CAMBODGE"
Homewards.
"VIETNAM"
"UAMBODGE"
MARITIMES
Tel: 20051.
M
PASSENGER/FREIGHT SERVICE
Leaves Marseilles
Bntled
.............. 1 Avg.
Graves Inngkang ........21 AugHAL ................28 Aug.
Hongkong
12-14 Aug.
27-28 APE
For..
Yokohama
Duo Marsailles Via
14 Sept.
20 Brpt.
Nalgon Salgon
via Marseilles to all Mediterranean & West Africs porta. via Djibouti to Madagascar.
"AURAY"
Gutwarda
"COURBEULLES"
"IRAQUADDY"
Honsuwards
"MEKONG"
"COURSEULLES"
"AURAY"
"IRAQUADDY”
FREIGHT SERVICE
Leaves
Europe-Sailed
• Europe-Salted
Hengkang
2 Sept
25/25 Sept.
.Antwerp-1 Sept,
1.raves
12/14 Oct.
Itongkang
For Japan Japan Зарап
For
-Keelung-20 Aus.
22 AUE.
1
• Keelung→
Oct: Keelung-20 vel.
5 Oct. 28 Oct. Nov.
.....Keelung-7 Nov.
↑ Baigon, Marseilles, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk.
Subject to change without notice,
s.s. "VIETNAM”
will sail for
YOKOHAMA AND KOBE
. on
Friday, August 14, 1953, at 7 p.m.
EMBARKATION:
BAGGAGE:
Passengers are requested to board the vessel between 4 and 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 baggage from the godown between 4 and 6 p.m. on the 13th August, during which period cabin buggage only may be registered. Passengers aro requested to note BAGGAGE must be registered as prescribed above,
that ALL
Compagnie Des Messageries Maritimes
Queen's Building
EVERETT
*
Tel: 26651
LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"NOREVERETT”
Arrives Salle
Aug. 23 from Singapore. Aug. 24 for
“"REBEVERETT”
Arrives Salls
Kobe & Yokohama,
Singapore,
J2
Penang, Calcutta.
Aug. 28 from Manila,
Rangoon (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Koren, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"STAR ARCTURUS"
Arrives Salis
Aug. 18 from Japan. Aug. 19 for Manlin.
"STAR ARCTURUS”
Artivos Salls
Aug. 24 from Manila,
Aug. 25 for Singapore, Port Swellen- hum, Penang, Mudras, Colombo, Bombay, Karachi, Khurramshahr, Basrah & Balurein.
"STAR ALCYONE”
Arrives Salls
Aug. 25 from Singapore. Aug. 20 for Naha & Japan,
(Aécepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa).
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Tolophone 31206. Chinose Department: Telephone 28293.
BUSINESS REGULATION ORDINANCE 1952
Coples of the prescribed Forms (a) 1(b) and 1 (c)'
Now On Sale at S. C. M. Post, Ltd.
HONGKONG AND KOWLOON
TEN CENTS EACH
THE CHINA MAIL, THURSDAY, AUGUST 13, 1953,
Improvement In U.K. Gold And Dollar Reserves In July
HONGKONG
SHARE MARKET
{From Our Correspondant).
Business done on the Stock Exchange this morning amouni- ed to $212,010.50. Noon quota- tons and the morning's transac- toru:-
SHARES BUYERS SELLERS BALES
BANKS
k Bank XD East Ana
1540 151
INSURANCES
Contoon
240
HK Fire
150
SHIPPING
Waterboat
30.40
Asia Nov ... 1.45 115
DOCKS, ETC.
K. Wharf. 45% Duck
Provident Wheelock LAND. ETC. HK Hotel HK Land
.. 11.00
IX 2000 or 11.90 1.00 8.65 2200 or 8.5
7.60
001 01 201
LARGEST SINCE APRIL
:.
The improvement in Britain's gold and dollar reserves in July was the largest since April and was a third higher than the average for the -second quarter of this year.
This is particularly encouraging as July can- not, for seasonal reasons, normally be expected to be a good month for the sterling aren's dollar earnings..
It i true that the balance for any individual month should not be given a great deal of weights: much depends on the fortuitous timing of receipts and payments.
moro
636m. from sld, ¡movements
and provided
It is in these final Gigures that the real results of dealings between the sterling and dollar areas are to be found.
SHIPBUILDING IN
Striking Economic FOREIGN YARDS Parallel COSTLY PROCESS
Pattorn In Britain And Germany
London, Aug. 12. The similarity of the broad economic pattern in Britain and Germany is at the moment striking, the Financial Times said today.
both
countries total Industrial production has risen above last year's level, and in both the current bulldlig boom has played an important part in the process.
"The revival in the output of consumer goods has been the other major contributory factor.
London, Aug. 12. While British shipbuilders are being criticised for their high costs It may be consoling to recall that costs in overseas yards are generally higher, and that the shortage of new orders that is begin- ning to cause anxiety in Britain has become more acute overseas.
In a fairly competitive world the prospect ought not to occasion undue pessimism in Britain.
If freight rates should contiaue at their current depressed lovel the less economie shipyarda. should reduce activity first.
A comparison of costs ***dimcult to make, but some in-
Sugar Prices Within
But the capital goods industries
edication of the relative standing Move
In Gukmany, which have. Mtown
steadily rising curve of pro- duction for some years past, seem to be incapable of rising above last year's level of out- put."
Nevertheless a markedly ime | ERU.. proved result in a month that other
The boom In consumer goods might have been expected to $51m. produce a poorer one is some-
in Germany zeems to be on a thing
than merely
much larger scale than in Bri- satisfactory.
tuin, the Financial Times states, It the figures for July are
Going un to discuss trends in with those compared
of June
for en- world export markets in detail this favourablu im-
gineering goods, the newspaper Is confirmed. pression
The straight comparison bo- declared: "The German statis In June $46m. was added to
tween 38m. in June and times make it clear that the de
clinc in new. orders for the reserves, of which the In July cannot, however, bomachinery la largely due to E.P.U. settlement, always for made. the previous month,
In July the total was $89m,
which $2m
from
came
|
SPECIAL PAYMENT
provided In the earlier month there $10m.
and American aid pro-was a special payment of $22m. vided $28m. All other gold and for the largo U.S. holding in 00 dollar movements produced only associated Electrical Industries,
$8m.
Properly speaking, therefore, after excluding Amorlean which is Irrelevant to the real balance, and the EP.U. soltic. ment, which does not refer to earnings in the month in which is paid, the July figure shows an Improvement of $1m, on that for June, an improvement to any single
S'hai Land Humphreys ..
1.40
-1615
of
UTILITIES
Tram
24.00
12
...... 21.10
23 1700 21.00
*
Peak Tram
[(3)
Peak Tr
INI
32.40- 0.49
"Light (0) 12.40 1215 000 C. Light (N) 0.40 8.43 3300 Electric
27 27.20
12 Macau Elec Telephone 23.10 21.00 100 21.03 50021.30
INDUSTRIALS
Cuinent ... 18.70 18.00 1000 18.80 STORES, ETC.
22222.40 500 47 22.00
2.40
Daley
Watson
Lane,
Crawford COTTONS
Ewo
24
911⁄2 2.00
6.00 1.00
MISCELLANEDUS
В
Yonutse
RALLY ON N.Y. STOCK EXCHANGE
Advocate
More U.S. Investment
Abroad
not attributable obvious factor.
Various reasons can be given for the improvement.
Certainly it is not due to the commodity
market. During July commodity sales aru nor- mally on a comparatively low level and prices of sterling area commodities do not appear on average to have been rising.
JAPAN BUYING
New York, Aug. 12. The United States Council of the International Chamber of Invisible carnings almost cer- improved, and it is Commerce today Issued a report thinly designed to induce more Ameriposable that the earnings of ail can businessmen to extend npanies contributed to the overseas operations,
Improvement.
to
Aro
Entitled "Doing Business It is also reported that there Abroad" the report is intended have been substantial Japanese of sterling with serve those contemplating purchases International business operations dollars, to rollove Japan's sterl and anticipate possible ob- ing shortage.
to
In addition there has been ex- stacles."
made in the The report said "Methods of cellent progress
Kingdom doing business, lew, customs expansion of United
to the United States. often exgainst and
this
apparently favourable trend-for of these opble factors only one, the Japanese purchases, is probably non-recurrent-there are several
to be sot. points
For one thing in July there was a deficit,
though a small and expected one, with E.P.U. WARNINGS
New York, Aug 12.
today Stocks rallied smartly
conditions under the leadership of oils and
different in foreign countries Iow individual specialities
and yet they constitute
no which met investment demand
Irregular special hindrance to investment The market
dragged
those who adopt an in- of the Passion for ly through most in the dulles trading in a month, quiring approach to them."
Obstacles dealt-with-included- traction Prices moved only a
exchange and the problang e way. Oils, helped by antara rerrictions, the failure of eliher nouncement of new discoveries nations to adopt
uniform theory had gains ranging to 3 points of taxation, inbour laws, restric h Texas Pacifle Land Trust. tions on corporate taxes and the
in Volume picked up sharply
Д
row
Lack of demand from Industry at home.
"There are
no comparable
which British figure
would allow one to judge whether the same factors are at work here. But there at least, clear In-
arry dications that delivery times for
of types
machinery many bought for Installations in this
much ro country have been duced."
The Financial Times drew at- tention to the decling of domes- tic ortiers in Britain and Ger- many.
"That does not mean that the capital goods industries are now moving into a roccasion; some of them are still doing extreme- ly well.
But it does scem that the tempo of the post-war drive for Industrial re-equipment in the manufacturing countries as well Da in the primary producing Drcas, la slackening off," this newspaper submitted. Mail Special.
China
PLANNING TO RELAX
THE BAN
Tokyo, Aug. 12. The Ministry of International Trade and Industry is planning to relax shortly its export bon -on-galvanised sheet,--sulphato,- penicilin and caustic soda to Communist China, Mr Ushiba, Director of the Trade Burcau of the Ministry, vald, -
He ao salt the Foreign Ministry is now studying the possibilities of granting per- mission for businessmen to travel to Communist China, but his Ministry believes such per mission should be given.
fear of the investor that his pro- This was partly the result of the last hour boosting the total party could
be taken away the tourist expenditure on for the day to 900,000 shares automatically.
higher allowance, partly of from 940,000 yemerday,
An added obstacle to doing trade Liberalisation measures business abroad, the Council said, and partly of the normal sun- was that
hat "State trading organismer decline in European pur-
acnerally develop into chases of Commonwealth tions monopolies and drive out private materials.
in
Nevertheless it is, the drat the deld. The enterprise operation of many such organisa E.P.U. deficit incurred this year, tions has
There are also the warming? Ushiba sold that actually resulted in lowering production."-Reuter, of the Treasury bulletin and of
the trade figures, with the sug gestion that the surplus may again begin to contract.
In rails, gains munged to 14 points. Motors closed unchang ed. with Crysler at $60, up . to $70% in their ex-dividend group. Bethlehem added to
Steel $5226
up to $384 US in the steels,
Of the 1,050 issues traded to
201 declined day, 482
and 203 The New
York
bond
Stock Exchange volume was at $2,370,000, and the American Stock Exchange volume was 330,000 shares.
Dow Jones closing averages:
30 Industrials
20 Rate
15 Utilities
Că. Blocka 40 Bonds Coinm.
index
Tuture
215.30 270.42 103.11 105.73 00.71 50.8i 107.56 108.03
05.45. 05.40 prices
150.15 150.33 United PreKE.
Export Ban Lifted
Colombo, Aug. 12. Ceylon has lifted the ban on the export of scrap iron,
Oficial sources sald not much of it is likely to find its way into
Communist countries,
Officials pointed out that the Export Controller has discretion
to refimo a licence for no co
port of strategic materials In which category scrap metal is included.
Bearish Mood
In Cotton
Cotton today
close.
New York, Aug. 12.
futures went lower
Indeed, the official view seems to be that not only is July's sur plus small compared with the need to rebuild the reserves, but that it will be followed by months later in the year which will show a considerably smaller surplus.
These warnings
obviously
the reserves of the
ATU
with
•
of shipbuilding in the principal | countries concerned may be
dorived from an analysis of the Sinall
orters placed overseas by United | States shipping firms,
dollars, in value.
Sugar
from
Range
New York, Aug. 12. futures continued to
DOWN
Since 1948 they have ordered 230 ships from yards outside move within a narrow range to- Americs, totailing 870 million day as traders awaited
the International Sugar The orders were distributed Conference In London. World as follows: Britain 103, Ger- No 4 sugar futures closed three many 53, Holland 22, Japan 22, points lower to one point higher France 1, Belgium 10 and with sales of 225 contracts. Sept.. contracts accounted for Sweden 0.
most of the total.
When it is recalled that Ber-
Domestic No. 6 futures closed fish yards were throughout the
one point period congested by long order 2 points higher to books their competitive pre-lower with sales of 249 - eminence appears even more tracts, mortly in the September marked than is Indicated by the and commission house selling and November positions, Trado
figures.
Woo 痛 fenture with support
mainly from scale-down urchase credited to short cover-
Is
comin
BUDSIDY INCREASE Unfortunately ship ordering| Ing.
determined as much by Reports from London Jester- reasons of national prestige and day indicated that an Interna- security as it is by profitability. total sugar agreement bringing supply and demand into balanco may be in the offing. Prices of futures closed as follows:
Contracts No. 4 (world)
Tam. 1054 March Miny
- Many overseas builders already enjoy Government subsidies, and there are signs that these will be increased to enable then to sept. tido over the present trend, Oct. towards stronger competition,
Thus in Japan an agreement Sy has been reached between the sept. political partico for subsidies to Spot (cenis per reduce the prices of steel for Japanese shipbuilders.
Cube)
Contract Ne
Sept. Now. Jan. 1954 March
May Jul
These, together with modernisation plan for the ship bullding Industry itself, are ex-. pected to reduce Japanese Sept shipbuilding costs by 10
cent,
per Spot-cents per lb, off
The Transportation Ministry estimates that the break-evon price of a 20,000. deadweight ton oil tanker will be lowered to $133 per ton, compared with the present $170.
The
ITALIAN ACTION
Italian Minister of Merchant Marine has disclosed
3.50
United Prodk
The Rubber
Markets
Singapore, Aug. 12.
a bill, to be submitted to the The rubber market opened Parliament in mid-1964, grant-
and
ta
ing subsidies and other help to steadier with sellers reserved with BOXYLO Continental Italian shipyards.
The Minister estimates that demand for lower grade.
The afternoon-prices-based- these yards have an estimated capacity of 300,000 tons yearly, bringing a little factory 10-
Prices closed while their orders totalled only terest. 200,000 tons, kbout half for follows:--- domestic, and half for foreign | No. 1 rubber per ib. Aug.
September buyers.
October The projected, aid will take No. 2 rubber par lu. Aug. the from of subsidies to rexico No. 3 rubber per 1, Aug. to a more competitive level No. 4 rubber per ib. Aug.
Spot, rubber unbaled high Italian raw material costs. Blanket crepo
Its amount is calculated to at- No. 1 pale, crepe tract a further 100,000 tons of now orders to talian yarda so that they may be
to employed capacity.
Referring to trade relations Mr Slates, the United
prospects bre that the United States in the next year will not raise its im-of port duties.
Measures of Government Sep-
United Press. LONDON MARKET
London, Aug. 12.
The rubber market was quiet. No. 1 RSS spot was quoted at
port to the les economic sections 184 pence per ib. Prices closed
tho
World's shipbuilding as follows: coperity are obviously demiging No. 1 RSS, pot to the prospects for the Brush Settlement Industry
PROLONGATION
Busines
General
market basla No. 1 ISS
10%-1#$%
19
Estato crepe Ag. thick unquoted Estate crope Aug. thin
saliore
-United Pres
NEW YORK MARKET
New York, Aug. 12. rubber market closed
The
from
He did not believe the United States will increase the import levy on china and procelain from Japan because the United States
Also they must prolong the President
1 not likely to authorise such a step..
period of adjustment which atra Even If the Import duty iscoms fikely, following the truce raised by the Anierican Con-concluded in Korea and the end
Such gre, it will bo vetoed by the of the prolonged post-war boom,
adjustmen Can
be today 20 points higher to 10 all day with increased have to be taken seriously, and President when it comes to thonchloved only by scrapping unpoints lower with sales of 44 bedging In evidence near the it is perfectly clear that, at White House, China Mail economic chips and, if necessary, contracts Activity picked up
by closing uneconomie yards, sharply
yesterday' ustil supply again meets de extremo slow pace, when only mantt of a gymunerative freight two contracts were sold.
The spot market contimsed to be prevented by Government to be featured by a lack of action the period of adjustment offerings at prices that would attract a larger volume .of. could be prolonged julefinitely.
Various
DETERM International
Interest factory ments exist for the control of World crude rubber stocks it acement Juno export subsidies, but
30. amounted unlikely that any of them can 62,800 tons against 817,800 be effectively brought to bear tons at the end of 1982. Pro- on subsidies of the Italian or
duction during the first half of 2. rod, Der Japanese form of subsidy on consumption was 702,500 toas
types. These
Bota 1953 came to 827,500 tons, and tako
Grain Prices even if the closing of yards is
New York cotton futures
Inadequate, Special. convertibility is closed 2 to 14 points lower, New
Commonwealth Orleans futures closed 8 to 15 a purpose of points lower. Offerings for the polley.
But, allowing for all this, it is most part were absorbed through all possible to take considerablo mills.
encouragement from July's thought to be against export agures, for it has been at the
sales.
Somo
demand
Was
Sentiment continued bearish vory point where the trend
might have started to
lurn
In view of the Government's - against us that it has moved in expectedly high 1053 crop fore our favour, The Financial cast which, traders belleve, in- Times. dicates an excessive supply this
season.
pro close The fact that prices bre
to the loan kevel he had to NEW VARIETY
minimum.
do keep activity 7. Several months are expected to
before clapec, however,
In Chicago
Chicago Aug. 12. Prices of grain futures closed today as follows:- Whenă -- (No. bushel in cents)
Spot
Dec.
OF COTTON
March 1954 May
Bombay, Aug. 12.
י.
this
non-
to
and Ir materials,
No. 1 rubber smoked sheets heation It must be recalled
were quoted at 23% cents par: that the British Government pound. Futures prices closed as
has long been criticised for follows:-
pricing of coal and stoel;
182 nout.
raw
1974
per
duni
Hept.
Id
a
technique which effectively
Dec.
140
subsidises the homie at the
March 1904
1303
of the foreign consimor. Palma Mall Special.
Nay
July
Sept.
Corn(No, Z, yellow, bushel in cents)
Spot
Supt.
Dec.
Mercha
Ceylon was a party to the quantity under loan is suficient- agreement reached at the recently large to have any noticeable
An improved variety of cotton Commonwealth Premiers Con- effect upon the free supply. ference in Lozion on the ex- Exports for the week were has been down in an increased area in Bombay State. The now port of sinftyle materials to placed at 0,752 bales against variety, which is stated to bo Communist countries. The only 22,827 bales. In the like period suitable for spinning highes cents) excepilon the made was in the a year ago---United Pros, case of home produced com- modities, Including rubber.
Router.
JAPANESE BONDS
Exchange Rates Japanesć bonda
* Businem' was done in the local Unofficial ·Exchango markal
Sterling notes (par #1) Aug 15.30
London, Aug. 12..
“A” (48 of 1009)
Lagalba 1007)
"B1910)
this
morning at the following 78{"#{ V.B. dollar (per 9)
Indonesian guilders (per 100) 18.99
Starticals (per 100)
Singapore (Stzalta)
123 Condos
Indo-China piastres (per 100) ..70
6474 717 1294
15
counts of yarn, was In tho Surat Sixperimental Farm Two PED Last year, Ure Which was tried in the
Bye-Prices per bushel in
11834 Oats (Prices per bushel m cents)
Dee.
new st
Acid,
showed good results in an area of about 2,000 acres. This year.
là cuộc 12.000 nerol
1024) 1012 tha
50ybean (Prices por buguel in cents). Spot Sept.
203 nom. #30-2497
the new variety nu: 041 NOV Ascultural, officials bellove M
Portion will be replaced | May by the new various in a few Tokyo 14# of 1926) · DO (Tokyo 89%. af 1913 97 Fears. Cotton, growers find that in cenfe)
Noel 01%% the yield from the new variety
New York Flour, 200 16. sack)||$13.50. is higher-China Mail Special..
Unlied Fress.
London Foreign
Exchange
Now, York Montreal
Amsterdam
(Price, por bushel in Fas
London
Copenhagena.
Brockholm Deutscho" Mark Blocked Mark
-19.34;
29.00 Did
LONDON TIN MARKET
London, Aug. 13.
The iin market was steady and quiet, Pricha closcii - follows:
5002 un burare"
Tures mantra tla, parkin
Ekisiness Settlement