MESSAGERIES
P.O. Box 63, Queen's Bldg.
M
THE CHINA MAIL, MONDAY, SEPTEMBER 7, 1953.
Pago 9!
MARITIMES DECISION TO LAUNCH NEW TRADE DRIVE Effort To Expand British Exports To Dollar Countries, Europe, Middle East
M
FAST PASSENGER/FREIGHT SERVICE
Outwards (from - Europa) Leaver Marseilles
"LA MARSEILLAISE" 15 Kept
"VIET-NAMI”
"CAMBODGE"
s Oct. 13 Oct.
Due 1.K. For
2. Oct. Yokohama
Nov.
Yokohama
VIL
H NÀY.
26 Nov.
Halgon Saigon
Homewards (10 Europe) Leaves Hongkong, Dug stapelijgi "LA MARSEILLAISE" 21 Oct.
“VIET-NAM”
"CAMBODGE"
1 Nov. 18 Nuv.
11 Dec. Nalgon
Vix Marnestles to all Mediterranean & West Africe Ports Vin Djibouti to Madagascar,
FREIGHT SERVICE
Outwarde, (from Europe) "AURAY
Leit
..Antwerp -27 July
"IRAQUADDY"
....Antwerp -
Sept.
Homewards to Europe) Leaves
II.K. Due 20 Rept. 15 Oct. Leaves H.K.
For
Mantia & Japan
·Manila & Japan
Tot
"COURSEULLES
6 Oct.
7 Oct.
"AURAY"
30 Oct.
•
"IRAQUADDY"
} Nov.
+
Nov.
10 Nov.
Saigon, Singaporę. Djibotili, Marseilles, Algiers, Oran, Tanglers,
Corablonen, ie Havre, Antwerp, Rotterdam & Dunkirk. subject to chango without noties,
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippinca, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.
"BRADEVERETT“
Arrives Solte
Sept. 17 from Singapore,
Sept. 18 for Kube & Yokohama,
"NOREVERETT"
Arrives Salts
Sept. 20
from Munila,
Sept. 21 Jor Singapore,
Penang,
Rangoon 品 Calcutta, (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator—passenger. service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"STAR BETELGEUSE"
Arrives Sails
Sept. 16. from Singapore, Sept. 17 for Pusan,
Yokohama,
"STAR ALCYONE”
Arrives Sulls
Sept. 20 from Japan, Sept, 21
Kobe &
for Singapore, Port Swelten- ham,
Madras, Penang, Colombo, Cochin, Bombay, Karachi, Kharramshahr, Basrah & Bahrein,
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A (tocorporated in the Republic of Panama
With Limited Liability
Queen's Building, Telephone 31206. Chinese Department: Telephono 28293.
To Discuss
Revision
Of Pact
Tokyo, Aug. 3.
BRAZIL
GETS A
The International Bank
for
Businessmen Pleased By Churchill Appointment
(FROM OUR OWN CORRESPONDENT)
London, Sept. 6.
Mr Derick Heathcoat-Amory emerges as a very important figure in Sir Winston Churchill's reconstituted Government.
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning amount- ed to $124,285. Noon quotations
morning's transac
and the tiona
BHARKS BUYERS SELLERS BALES
DANKS
IK Bank
East Asia
1910 153
INSURANCES
Canton
230
Union ....... Underwriters
000 $10 20 004
3
300
1 Bre...
SHIPPING
Waterbuat
Ana Nav.
DOCKS, ETC.
K. Whart Dock... Provident Wheelock
LAND, ETC.
HK Hotel HK Land S'hat Land
UTILITIES
Trom
P. Tram (0)
200
1.47;5
21.00
11.70 1.80 1000
7.80
8888
ទ
Hig task in the newly-created post of Minister of State at the Board of Trade will be "to" give special attention to the promotion of exports and to problems of overseas trade generally.
This appointment will be popular with British businessmen. Me Heathcoat-Amory known the sort of difficulties exporters are constantly coming up against in overgens markets,
one a
Increase
Before taking office ca Minister, that Britain Increases har of Pensions in 1951 he was share of trade in these areas. BA active member of hla It will not be easy family's textile Arm director of Lloyds Bank-cx- perience that will serve him Him that awaits well in the job
The will in any case, be far from simple. Anyone who has tried to assess Britain's trade prospects from the vbat amount of iterature on the subject will appreciate the complexity of the situation with which Mr Ligethroat - Amory myst deal.
nowy
of
could
LOSING TO GERMANY British exports The United
ponts to States have foughly kept pace with the
In U.S. imports but Britain's sales to Canada have risen less rapidly than the market has grown.
In the most important dollar countries, the Latin-American British share of total imppris is only just over four
per cont compared with over eight per cent before the war.
In Western Europe the United ground heavily has lost
the waitert micreased its
The optimistic tone recent trado reports 10% easily lead one id assume that all is well with Britain's export trade. Exports in July, for which were the Agures are available, kighost since March, 1952.
The visible trage gap was the smallest of the year.
Britain, moreover, continued tp benent by the movement in a terns of trade during the first six months of this year.
CUT IN IMPORTS
0.35
001% 61% 150 @ 0015
24.00 800 @ 2415 43
P. Tram (8) 21.10
Bar Ferry.... XD
C. Light (0) 12.00 12.00 Light (N) 03 8.03
'2015 Fectric XD
Macao Elect.
Tilephimo
.. 21.00
.
to
in
Aid For Taiwan History Compiled
Shipping
Talpel, Sept. 0. Nationalist China's Economic Stabilization Board tine decided to ald the island's hard-hit ship- ping industry with a loan
$15,000,000 US$1,000,000). reliable sources
of Formosan (about isually sald today.
ationalist
shipping.
to anly 240,000
bar suffered a big
#
Mpep the Korean truce talks began.
Regents there was plan to sak for American ald in order to buy a fleet of merchant ships with payment to be made in Instalments Rentet.
New Cargo
möre bu
Liner For
Far East
Service
W29
37.20 23.40 500 @ 23.39 | Zalf of 1952 and still import a King aspects of the pelted | Mâlgy shortly
23;
of
he
was
renomed
Of Oldest Shipping Firm
Compilation of the history of Thos, and Jno. Brocklebank, Ltd., the oldest shipping firm.in the world, must have been a monumental task, says the Liverpool Journal of Commerce.
J
The work proceeded over a number of years, and the result, ""Brocklebanks, 1770-1950," in two volumes, has proved it well worth while.
There would have been, in-
| deéd, a serious gap "in 'the "mari- time history of this country i! this history had never been written. That it Is not as complete as might have been wished is the fault of no.one at least no one living today.
It was perhaps inevitable that over the
events
which at the time
I have appeared to
significance re- mained unrecorded; and docu- ments loat ог
Inadvertently
Highlights
Of U.S. Business
New York, Sept. 0..
deilroyed. But the author of Automotive: Automotive Re- cklebank history hos ports output of cars, buses
the
And
and
In the US this week estimated urlis compared with 102,806, (revised) the week before. Banking:
in
money in circula- money
$12,000,000: Holding of
on
US
44.0
per
to dato
to find most of the and trucks In what might be likened Canada total exports to éléd by one- Latest addition to the feet of to complex Herary Jigsaw 187,998
Austasin Line Ltd., of third between 1950 and 1832 tho
established over a period while United Kingdom a restablished to operate services
Singapore, which has been 180 years, and the line's makes interesting, in fact
Federal Reserve- little more than one-seventh.
Australian ports and fascinating, reading. In fact,
week ended August 20, mem- the only
to between area which Britain might sell more Indonesia and Malayu, is the
bank, "That it all begun with the ber
commercial, Booth with relative case appears
Cargo linernetivities of age man, Capt. dustrial and ogricultural loans the the big off-producing code of gross tons Daniel Brocklebank, is neither in 94 leading cilles $891,000,-
which
ba
surprising nor
000. unusual, since
Gold reserves, week potential customers for more Mandama.
most of our arres of today
Industrial ended Sept. 8, $221,780,000,000; British development goods. The first ship of the feet, the enterprises and
Excess reserves, estimated tons dead-ad humble. Malay of 200
in sama On ANOTHER VINO
weight,
launched Whole House the
by instances even casual begin- Pickersgill and Sons, nings. does not seem unduly William
$250.140,000,000; The prices Britain pays for Treasur
There was, however, Lot Sunderland, on raw pessimistic about Britain's, ex- especially
little that was her imports
casual about Ratio
cent; New York Daniel Brocklebank, when he City brokers loans $1,300,000,000. materials have fallen much port prospects But some more steeply than the prices of dependient
*are
Bank Clearing: Dun & Brad- left Morland Vicarage, in West- Alvo transferred to the har exports. As a result she stressing anofferte INDUSTRIALS
was able to cut down her disturbing side of the pleure. Star Line while under construc-morland, and salled across the street, inc.weck ended Sept.
The London and 2002, 1815 18.70 1500 15.04 mänthly Import 'bill by 2.85
Cambridge tion, and launched as the Malay Western Ocean to start his 2, clecrings in 25 leading effica Cement
$10,421,380,000. ciceer in merchant shipping. millon compared with the first Economic Service finds grounds Star. Her name was changed to
Carloadings: Association of STONES, ETC.
after Jaunching
NEW BASE
American Railroads week Dairy
sepnomy for beleving and
untiter for Aus" Walzon 22.30
greater volume of goods.
On the other hand, he appears | ended August 20. 814,4817 £ Crawford
that "the ingofionary The value
move-tralia in February to inaugurate to have been determined to loadings for Wns exports
year
COPTONS
Austasin Ling servict. down between January ment has acquired considerable the also
The momentum." wald June Ewo
The second ship, of the oct como a shipbuilder, and had, 25,900,000 cars. capitated with
in fact, served his apprentice- Construction: Engineering Despite defence aid from the first half-year of 1562, but the
Is the
Mandawl, built by
in ship
News a shipyard. Further, first hal event of luz, baller United States and the continued Mess Pickersgily as the Cris on his arrival in America he at Sept. 3.
(7,250
tons deadweight) actual fall in import prices, It says, pip than the drop in the volume Expats that lay Britain's current account sur for the Booth Line in 1951. She once turned his attention to $293,524,000, 1953 to date awards
the buliding of ships, and estab= | $10,519,427,000... behind it.
plus in the first half of year has been
I at Pickergoing alterationslished a yard where he cop bere are reasonable grounds | Dertainly much lösx' (Kất” the April to make her suitable for structed five vessels. Five years Institutowock ended August
shipyard since £300 million
later, Civil War in America lęd 29, output 1,539,557,000 kilowatt Per her new Eastern trade, Afend mian, têg in the recent
ar production and target of
ahnum wanted for repaying -ployment.
Failures: Dun & Bradstreet, debl
building up reserves and due to sail from the United to Daniel Brocklebank's return hours
of this to England as master of the Kingdom ht
this nt the
ended August Treasury
27, the beginning of next. Castor, the last and best of tha bulletin for industry last week, ture in the Commonwealth."
The third ship, In the second quarter there built in Industrial production was bur
Indices: Production Stan- to be he selected Whitehaven as 1940 and now
dard & Poor's industrial per cent higher than
pro- a year may even have been "a small renamed Mandama, arrived at new base for his business.
He had a spell of private imated at 232.3 per cent of the
duction index this week carlier and between
and Payments deficit.
Sunderland on July 31 and is. Explanation of the risa in the und first two per cent up on the gold and dollar reserves which
before in this ship-Letters of Marque King George
1035-39 half of 1951.
by war continued in August-seems, if missioning in her new-ser ware granted
towards the end of the 12 in 1779"so Capt. Daniel This increase, however,
the throughout says, to be the surpluses of the year.
Brocklebank, of not evenly spread
Textiles, rest of the Sterling Area. Industry as a whole.
Mr W. G. R. Douglas, who at authorising plm "to dothing, leather goods, food, DISQUIETING ANALOGY
the time the Austasia Line was destroy the ships, depols and cut. Barron's
for building and contracting
established, and
goods belonging to the King of appointed Industries all increased vehicle
"The analogy with the first manager at the Singapore head- Spain" before he production in the January-June half of 1031 though hot per quarters of the company, period,
fect,
the been succeeded as manager by Willchahe first disquieting.
Mr J. E. Lynch.
13 being built in 1788, some économie service' confitiues,"
"In particular there are signs
in the years after his return
21 2.59
Textilo Corp. 5.40
MISCELLANEOUS
Yangi (N) (19
Shipments Of American Rice
To Far East
The Office of International Trade of the Commerce Depart
for ment has made it easter United States rice to be shipped to Cuba and the Far East.
announced
in
seems to have been small ----
and is
Rt:cord-week ended engineering ewords
Electricity: Edison dicin
Inc.-week
Electric
In the Arst half of 1053, thencing our capital expandie month or the the Cuthbert, Ves that he had. bullt, and business failures totalled 182.
опо
alterations undergoing
WAS
*
Castored seize and
291.1
average, compared with
the week be-
dox
weck
237.0
Index, nausica Industry and
long term the woelc
commenced population EN 22 per cent
Effective immediately, exports
at has his shipbuilding activities rice to Cuba will be allowed under general licence,
of
validated export
Dags
to
and
the
bewil
for
Lo
0
the our
15
the
of
The general agents
S'pore
Rubber Market Quiet
Shigupore, Sept, §.
Vessel
ended August
of the 1935-39
average.
from enVeroduation:
American
;
Cotton Prices
•
In Karachi
Q
NOT CONCERNED
Institution week August 29, Gasoline Offico no od. On
July 3, the
Home demand accounted for that the rest of the Sterling U.K. for the Austasin Lina are America..
24,048,000 bbls daily average Agriculture Department Kranted
will be increasing to the Blue Star Line Ltd.
When he died, in March, 1801, cruda oll 0,620,700, bbls, daily mast of this Fise but there was Arta Cuba a quota of 3.350,000 100-15
increase "In the imports én welcome
a notice in the local newspaper average crude oil, runs to ma ner future needs
Felaxation her
and when, for example, IPF volume of textiles, cars
described him as "Mr Daniel,234,000 bbls: meet
distinte light of the Australian restrictions BANK LOAN the six months ending on De aircraft exported in the second
shipbuilder Brocklebank,
and fuel oil 10,307,000 bbls-United cimber 31, 1053.
was no.resi If shipments quarter compared with a year becomes fully effective.
"It is most important that
rope maker," There
of bla mention
shipowning. under the general licence to Cuba
earlier.
manufacturers should be of this in excess were much
Against this must be set
activities,
was he although actually
builder the
and Reconstruction and Development figure. Oft ofcials said they decline of production in the both opportun caste has decided to open has made Japan
a loan of $7,300,000
000 would investigate.
caglacering and other metal- this
master/owner of the Castor. talks at the Hague shortly for for electric power development International Trade Office using Industries apart from exports by quoting attractivo
It was on their father's death revision of the current Japani-
also
announced that while ex- thase producing vehicles, cranes prices and short delivery dates. Largo arrivals of Indonesian that Thomas and John gave the Netherlands Trade Agreement in the State of Minas Gerais in
Brazil.
"And this Power from Д INW
Twenty and excavators and other plant port licences would continue to
course in order to increase the trade
be done at the Remorqubber lod to hedglag by Ideal firm its present title. shipments of for civil engineering.
the expense sellers during the week
but years were to pass before ́efforts to sell in volume, and remedy Japan's un-actory templated will be be required
used chiefly by manufacturing American
rice
the Far This decrease the Treasury of relaxing
was started
Karachi, Sept. 8. favourable balunce, Japanese and mining Industries in the Eastern countries,
including says, largely reflects the fall in non-sterling turkets, the results business conllmed to be quiet. shipping service
Lewis & Pet's week and res from Liverpool, and since then the whole
The Karachi raw cotton mar- Government soitrees reported
Japan,
the which may on letters of credit, which the volume of exports it
reasonably port said rubber prices fluctuated the great House of Brocklebank ket closed this tuday.
wook rather considered compared be been required; The joint borrowers were the wreviously had have been with the surus period of 1952,
cou- has been gradually and surely easy owing to the absence of encouraging In view of the within hiperony Brits and
there dificult
wig te ins built at the port, albeit en Japan will propose the exien-
the foreign/demand plus expeota- conditions prevalling in Zar Minns pany applications for export concerned there has been an many markets over
as employment is
last 18 nation' to trade.
foundations laid by
Dantel tion of a larger American cof- sion of the trade volume from Centrals Electricas de
of remilled gade, Brocklebank In 1770, 3,000 miles (on US$7.5 millon ti year each way, spelares, como perting licences. office added that no increase in the number working months."
to goods industries
away lo Americe. But, with rising home de- were more plentiful owing do Alto Rio Grande
in consumer
arrivals of milling" "strets the slack in the million, record, to US$13 million cach The loan was guaranteed by the
partly at the expense of some mand and Government of Brazil,
loss of manpower in the metal-system much reduced, it warns, from Indonesia, the report said.
ta Britain's Malayan exports for August manufacturing and metal-using the
exports 19
were 40,422 tons compared withi undertake 22.222 tong industries.
potentiaccative The project to be financed, The current agreement was
work
July--United "The Treasury does not appear, the slow and hazardous the help of the Bank's signed in the Autumn of 1951 with
Edditional however,
export be particularly of cultivating and was later extended, with no loan, Includes the buliding of a
concerned at this loss of labour the results which are needed.
Inadequate to secure Grande sinte axed for its expiration. As River at Itutinga Falls, a
the Rio dom across
in the vital exporting indus- the of July 10, the trade bilanes Rive
It is tries.
a perplexing situation; but the decision to launch un-house with two 12,000-kilowat million
generating units, 130 kilometres The Japanese Government at of transmission Unes, and several
State,
with wing secount of US$2, Companhia de Ele-
way.
under
stood at US$2.2
the
favourable to Japan.
current
the forthcoming negotiations an
will request the Netherlands to peeled to
sub-stations. The factory is ex- begin operation in January 1055 and to be in full at the beginning of
spread their Imports over operation
wider range of Items-France-1980. The total cost of the pro
Presse.
ject was estimated to be
the
equivalent of 18,000,000 dollars, of 7,300,003 The Bank's Jonn
changes were being made in its present system of licensing rice exports to Latin Americh and Europe-Reuter
Not Affected
By Japanese Competition
New York, Sopt, 6.
A spokesman for the
cotton
of
to
THERE TO WIN
B
In the past •year It points new export drive and to place out, industries which have been a new Minister at the head of Winston able 40 Increase the volume of it shows tout Sir exports or which were on de- Churchill and his advisers are
Press,
Tariff Increase
Objection
Washington, Sept. 6.
An Argentine official sald to-
fence work seem generally to / dolermined to strike the right day. that any increase in the
hour workers are
balance betweeg and defeatism.
complacency
Shipping Line's dollars will be used to pay the textile merchants of New York appear to be any general short- Dollar, Receipts
Profits
the
foreign exchange costs.
Principal consumers will be a ferro-alloy factory soon to bo Sydney, Sept. 6. constructed, a cement mill now construction, and a tin The Commonwealth Bhipping under
The remainder of the Line, owned by the Australian mine. Government and subject to salb power will be taken by utilities negotiations, earned a profit of serving several small towns. about four per cent for
Tho Itutinga project wag financial year ended last March.
Announcing thin, Shipping prepared by the Joint Brazil Minister Sonator George McLeaf United States Economie De sald the latest rate. reached velopment
Commission in after provision had been made co-operation with the state of for normal
Grande Electric Company. The was not exrcerive:
Nogotiations, were proceeding Commission considered the pro- to sell the line, of 32 ships, to jeet to be of high priority in the Australian steamship owners economic development of Brasil,
-Reuter, -only.—China- Mall Special....
Cut In Chile
West German
Of
Fleet Merchant Ships
Hamburg, Sept. 0.
was said to be keep- Ing out pending
I Pakistan Government import policy an- nouncement.
According
to
present
the crop Ideas, Pakistan will have sbout one million boles portable surplus
1953-84 season,
ex- during the
Raw cotton prices closed this week-ond as follow
4-F "PRAJAU, Hoji)" Qui, "
Rupees per maund
189 Roller Gan Rupees par
kuhu
za
FN'T Sind, Roller Gin, Rupees. por- inkund
07-13
47
06-0
00.0
-United Praw
Bank
The Wast German merchant 1280 NT Sind, Baw Cin
Rupees per mound Halted States wool taflix would feet totalled 1.7 million grosse FNT Punjab, Roller Gin contradict this country's positons as of July 1, of which 45.3 upees per maund
of free trade in a free
per cant consisted of new 109 FNT Funjab Baw din
Rupees per maund world.
Vémoly beult since the end of the Sodor Cesar Bunge, Economie war, according to the Marine Federal Sounsellor of the Argentine Department of the Embassy proteated at the US Ministry Transport. Tarif Copnmission hearing up to the beginning of July New proposal by, the Agriculture De-this year, 301 merchant vessels partment that wook import duties be increased seven cents of all types aggregating 591,250 hard-gross tons were bulit under the Den bound to
Protect espressed domestic growers. —
successive buliding pro-
Santiago, Sept. 6, Private enterprise The Chilean State Bank has grammes. United Prose,
In the same period bullt 151 begun operations. The new in- *ESTegating. 478,200, gross stitution is designed to control
Up
State In Chile
have been able to secure the they needed.
so motak want there Industries
docs not
said the Japanese have pro pentod no great difficulty to the age of manpower.
The Treasury belleves that industry so far.
circumstances "In In the past three or four you should not be cult t82“ pro- there have been some temporary duce most
Tor export
Santiago, Sept. 8. upsets caused by Finance im when we
Lower prices for copper found the
and nitrate have cut offre ports, he said, but they usually markets for theat have been mixed
-And the of table linens, doubtedly
there for Bestimated dollar exchange
Brijjah | capta" this year. kays- 400,000,007, an oficial spokesian gildi" (os some trouble but experiencing som
According to the
Ocar" Homers. President the Industry In general has opportuniles exist for
* Trade not been hurt, he' mid
siderable expansion of British the "In general," "Fractions of sales in the United States,
Bid the orging T Businem was done in the local talking, lato, account bulldjag on Tho formar National Savings * 94% E140,002,00%, 7 dol- undmmar
Ihr privalo account, it is expected Bank. Agrarian Credit been mixed.
"Law, my there American countriei, Western Jar exchange, wote had bude to MCME Com a 2 is ho "danger" from panee Europe and some Middle East reduced to $100,000,000 due id
the price slump of Chile two morentinulider 10 competition and a few others countries.
the Japanese must 150
Iteathcoat Part of Mr Amary's task will be to ensure watched.-United Press.
on-
company taxation, Minas Gerais and the Rio I American manufacturers' havo †chimádó,' { some yndelier : Latin? U
Exchange Rates
chief export products United Sim-ticals (per 100)
Endoscillia" plasires (per: 100)
10.90%
37:30
عالمانه
tops
prodit and to channel it into After the completion of the increased farm. Industrial and current bullding programme and mining production,
Bank
dogy, have between More Bank and Industrial
minfans frockton Credit Inalifute wire me
* marchant "Whipping by the in to the new bank which has
of beginning of 1955, China Maila capital Special
United Press,
$49,000,000