MESSAGERIES
Queen's Bldg.
M
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 9, 1953. *
For
MARITIMES TARIFFS IN THE COLONIES U.S. Cotton HONGKONG
M
FAST PASSENGER/FREIGHT SERVICE
Due 11.K. Tot ...Oct.
1 Nov
Yokohama
Outwards (from Europa) Lényei Marocútes
13 Sept.
* Nov.
Yokoham
Bafgun Ralgon
11 Oct,
Honkong
#del.
Nov.
JE Nay.
parties a
'Nov.
I NOT.
it Dec. Batson
"Via" Mätreifies to all Mediterranean & Wem Afrifg Fort
boulf to Medagsscar.
V
Sfrom Entore)
FREICHT SERVICE
Left
DUB
11.K. For +AK{WIFP −27 July 30 Sept. A1 Sept. 15 ft.
•Balik early del, zi Nav.
Homewards (to Agropy? Leyte Keelung
Oct.
janua & Japan Bugtlu & Tapes Madla & Japan
Leaves 18.K.
For
7 Oct.
1
Nov.
10 Nov.
H
10 Oct. "INGQUARRY"
Nov. *f*Bälgòn, "Singapore. Djhduft, Marselilen, Algiers, Oran, Tanglers, Casablanca, Le ilavre, Antwerp. Roterdam & DunkNR.
to change without notice.
EVERETT
LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Blam, Malaya, Rangoon, Calcutta and Chittagong.
"BRADEVERETT“
Arrives Salle
Sept. 18 from Singapore.
Sept. 20 for Kobe & Yokohama.
"NOREVERETT"
Arrives Balls
Sept. 20 From Manila, Sept. 21. for Singapore,
Rangoon
Pening,
&
Calcutta,
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Of{fawp
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”
Arriver Sails
Sept. 10 from Singapore, Sept. 20 for Puson,
Yokohuma.
"STAR ALCYONE”
Arrives Salla
Kobe &
Sept. 20 from Japan. Sept. 21 for Singapore, Port Sweiten-
.ham, Penong,
Madras, Colombo, Cochin, Bombay, Karachi, Kharrarashabe, Basrah & Bahrein.
(Accepting cargo for transhipment Hobe/uson and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A (thcorporated in the Republic of Panama
With Limited Liablity
Queon's Building, Telephone 31206. Chinese Department: Telephono-28293.-
Pakistan Decision
To Lift Control On Jute Exports
London, Sept. 8.
The Pakistan Government has decided to lift the export price control on jute, according to official re- ports from Karachi today.
"
This was the first of several measures which form part of a new jute polley for the current year which will be shortly announced by the Pakistan Government.
Other measures were reported ty that the Arst half of 1954 may to include the free licensing of witness wider price fluctuations
during the past exports and a price support than
scheme which
will probably months-United Press.
be Introduced next year.
Jute trades in Dundee and London are forecasting the com-
bined 1953-54 crop
from
to be be-
Pakistan and India tween 6,000,000 and 6,000,000 balce against the 11,500,000 bales in the 1950-53 season.
estimato Tradera hero
that with the carry-over from Inst acapon the total world supply be frem 10,509,000 to 12,- 500,000 balos.
willi
Trade Mission In S'pore
w
Singapore, Sept. 8. A three-man Burmeso trade mission arrived today to survey the poealbilities
of expanding
trade between BurTTA
1911 estimate in causing de Molaya. preciation on the market hero
Question Not To Be Raised At GATT Meeting
German Chemical
Exports
· Frankfurt, Sept. 8.
The Farbwerke Hoechst AG., one of "The Breest Miccessor Companies of the former 1.G. Farben chemical combine, pects
that production
CX- and
year will consider-
Board Of Trade's Denial
Of
Press Reports
(PROM AN ICONOMIC CORRESPONDENT)
London, Sept. 8. The Board of Trado today denied reports that the United Kingdom is to raise the question of Colanial tarifs at this monin's GATT (General Agreement on Tariffs and Trade) meeting in Geneva.
"At the moment,” an öfficial said, "there is no intention on the part of the U.K. Government to propose new arrangements for securing more ably exceed those of last year, flexiblity in Colonial tariffs, as suggested In the Press,"
sales tils
according to the firth's business.
reports for 1932 Just published!
here.
Turnover of the firm and its four main subsidiaries in
the
If Colonial tariffs were discussed at all, lie added, it would be on the initiative of other Com- monwealth governments.
Arst half of this year amounted
At their Just full-scale wealth countries in their trade to 424,400,000. marks compared with 736,100,000 marks in the economic conference in London whhin the Empire,
the Comportwealth Prime Under GATT's "no now, DTC- whole of 1952. The gure for
however, the last year was lower than pre-Ministers agreed to condider ference" us, viously published (700 million sympathetically certain special situation cannot be remediod problems sceling the WATT for a special disperation Lariif
the importing country saks marks), because sales among Colonies." tho Farbwerke and its ab-IOR
This referred to the affleulty to make the necessary adjustment siljartes were excluded.
which has been experienced be in its torlit.
"It is therefore possible, granted cause, come pretorences between Commonwealth not considered extended to the Colonies."
1947 were not informed London quarters, that countries before
certain Commonwealth countries The Colonies Concerned are might ask GATT to approve the at a disadvantage gxtension of previously withheld thus placed
to the colonies compared with diper Connan preferences
fected.
The company's export rate rose from 21 per cent. tust year to 25 per cent in the first half of
1803.
The firm spent about 47 milton marks on research work inst year. More than 30 mil- Ilon marks of that total were used in the company's main plant pt Hoechst near here. More than 50 million marka as investments for were spent building and rebuilding produc-
ond exten- | tion installations sion of existing plants.
A spokesman of the firm sald that the investment rote' would remain unchanges during the next three years owing to work sill needed an modernisation, and extension of the plant
CX-
NEW YORK
STOCK EXCHANGE
or
APPROACH TO GATT
It is expected, however, that the United Kingdom will seek OATT& permission to Incredse bestpin of its own tariffa" while, of the same time, continuing to admit. Commonwealth goods free of duty.
OUTPUT OF
GOODS IN BRITAIN
Increase Recorded:
London, Sept. B. The quantity 25 goods and services produced In Great Britain ingreased by 19 per cent between 1940 and 1952, accord- ing to the latest publication of the Central Staustien! Office un national Income and expendi ture.
Valued at 1048 prices, the increase amountext to £1,500 million. As imports Increased by £400 mlllon the total in- crease in supplies was £1,909 million. Nearly two thirds of this increase went in higher experts.
It is understood that this move will be made in an attempt to
Of the extra supplies lett for protect domestic food producers. home use, about half went to At the moment, protection for consumers and half to fixed agricultural products takes the capital formation. The risoid restrictions on consumers' expenditure (valued
1948 Government now maximum
to the more
at
of £8,711 million. 1952 fi had fallen to £8,574
New York, Sept. 8.
upward Stocks nices eged agal today but volume dwindled still further to the Ughtest level form of quota foreign imports. Sales of dyestuffs by the Arm siray Sept. 6, 1049.
reached prices) The U Just year were described
Ds Ralls and some specially issues
want to return generally maintained but with provide a few wide gains in n
By of adjusting million, but some of this fall Only normal procedure Tallink exports. Sales of generally to market. pharmaceuticals
satia-990 istucs appeared on the Ippo tariffs as and when forest city was regained in 1933. were
stability petition threatens and the factory,
production of with 420 higher and 303 lower.
the domestic producer's The day's turnover of 740,000 of new
770,000 markel. with phan Was
shortly. Re-shores compared
This, too, would require some search work in the Year shares on Fraty arid was less mineral ull chemistry was in- than half of the total considered modifitpion of GATT rules. For
prift on an ogricul creased in view of the progress necessary for brokerage houses tural
is raised while similar the
products still adritted duty free, this Bredential pargir diloved by the Empire grower And GATT rules specifically forbid any ad- justment in tariffs which pad this
to
Investors
onwealth
The increase ip capital forma- tion was similarly largely com- pleted by 1950, while exports
The
expenditure of public continued to ruse until 1951.
and authorities fell after 1040 reached a low point 1948, when I amounted to £1,700 1048 his ex- venditure
the development of these goods to break even. had made abroad, These pro-
approached ducts had become a serious market with caution
As a month! on the basis of for bears and the many uncer tainties in the business picture,
Industrial stocks gained $1.08 on average today helped by rises ct. of 'a point in Cot effect. producis, 4 in Goodygar
Manvile, 7%
of
threat to solvents made by the September's history, view act of increasing the million ounted plondily to
Farbwerke acetylene.
Special attention was devoted to the manufacture of artificial Aures produced by the Bobingen AF fuur Textilfoss: at Augsburg, and Johns
subsidiary of the Farbwerke,
This factory, KRW producing only point in Union Carbide and a rayon and perton fibr
will start long fist of smaller gains, fibre,
Halls improved two cents in reis average with industrial ains righhing to or a poim in Atlantic Coast Line.
stood out as Chemical
UNLIKELY NOW
vand
from
£3,294 million In 1952 1948
prices). In 1952 About 45 per cent of the goods and services pro- duced in Britnin "came from
Fer manufacturing: about 12 cont camta
distributive At this stage, however, it is trudts, ning per cent from trans- unlikely that the UK. Govern-t
cent
from ment would wish to throw the port and alx per whole vexed question of Imperini agriculture, forestry and fishing.
Since 1948 income tax an the "GATT
National Insurance have taken Preference
13 to 14 There is no doubt that the
debate.
Into
per cent of personal
turning out perion continumus filament yarn in a new plant lo bb completed by the end of this year. The Grin sald that pro- duction of perion tilament yarn day outstanding feature. I would account for 85 per cant rose 53 points to a new high to see certain clauses of GATT love ̋tákon another 18-per-cent of Bobingen's total production at $39 on news that Mr W
next year.
For the
tho
income
and indice! taxes British Government-would like
People with Incomes between especially is "no new pre-
£600 and £1,000 a year pald H. Giage is seeking purchase ference" rule-revised or even
one per cent more of their In- confrol through Acquisition of abolished.
comes in tax; *people with Arst time since the 18,000 shares of stock at $40 But it is just es anxļous not to | £1,000 to £2,000 pală five per war. the. company acquired share. The Company's preferred appear to be advocating a policy cent more, old these with shares in foreign firms at the shares climbed 16 354. Olof Pestriction which might £2,000 to £10,000 15 per cent end of last year. These rm, were steady 10 Arm.
outcome of the Ex-prejudice the
more. People with Incomes the Vedepha at Vienna and the The New York Stock
United present enquiry into
over
year pald 24 £19,000 n Pontósan
de Janeiro, change bond volume at Flo
States foralen economic policy. were chiefly intended to act as $950,000, and the
rer cent more. Exchange was
Indeed, in the present stage of roles organisations abroad, the Steck
Defence absorbed 51 per cent uncertainty about America's
of public authorities spokesman
expepiti- future trade policy, no discussion
diture in 1959. Survices to person, of GATTI · future,
10 mostly education and I health, voncerning known bo
to member countriju, is ikely to absorbed 30 per cent.
On the fixed capital formed take place at Geneva this year.
by industry in 1952, industry "Xanal ducision on this ques and trade look 60 per cent, and tion, Uke that of Japan's ad-
A new housing 24 per cent meion to CATT, will probably China Mail Special. be postponed until af
after the
of the firm said.shares.-United Press. General rebuilding of the com- pany's sales net abroad made
was ot American 250,000
good progress.
A four per cent dilvdend was proposed for holders of the firm's share capital of 285,700,- 000 marks. Net profi last year was 12,100,000 morks, while the balanco cheet" total was 890,090,- 415 marks. China Mail Spécini..
New York
Foreign Exchange
New York, Bep!
01:01 1/32
Canda England (official)"
funnel
30-day duțiare K-day future
Auzicalta
New Zealand
and.
South Africa
Helgti Deniatk
Germany
Holland
Norway
Portugal
Epaka Breden
The leader of the mission, | Fraries since even the lower of these U Ayo Cho, executive officer of Agures would still leave a sur-the State Agriculture Marketing y
the Board in Rangoon, sald Burma plus over consumption on 9,000,000 bales or so experienced in keen to expand its trade with
during the past two seasons.
DEOP IN PRICES
other countries in Aga end his country has, besides rice, cotton and maize to offer.
Switzerland
Egypt Iran
During their stay here mem For the past few weeks prices
will al both for raw jute and jute goods bars of the misalon
IT have lost their firmness and visit factories in Singapore and
Turkey have begun to drop following the Federation of Malays. It is tise general world trend of other to visit Indonesia, Sarawak,
Ceylon and India before return- | Aregina commodities.
attribute this ing to Burma-United Press. to consumors
Traders here
Jack of demandt
drawin
stocks
felriy heavily on N.Y. Cotton Prices
Despite the cut ordered
In
ملا
Holivia
Colombia Cubo Mexico
New York, Scht. 8. acreagon and potential yields Prices of cotton futurca closed Uruguay in Pakistan following inst rea- today as follows B00's
sto lag. hehind pro-
In consequence, the juto trado koro is presumed for the possibili-
oyer prodhuaction, mumption in the Enturo in, still sapegtett duction
соры
Spot Marcin. 1984
MAY
July
વ
Middle East
Latin America
The Rubber
Markets
severni
The market opened onsier on pollsson on forele New York Sugar |
polley
America Singapore, Sept. 8.
disappointing orders and close
d slightly steadier tone. Prices were as follows:- No. 1 rubler per 15.
on
'fhis reported Flamboyer
In the meantime, the American delegation is expected 14 beck a Japuneso request for wt-temporary membership.
Sept.
git. Nov.
No, 2 ribber par 10,
Bept. No. 3 rubber per jb,
Beat.
unquoted 0316-6311
63-0214
No. 4 rubber per 1b.
Sept.
Spült rubber unbeled Bianka! crepe A No. 1 gale crepe
Market
***New York, Sept. 8. World No. 4 sugas futures clared today one point higher BRITAIN'S ATTITUDE
to two Japan
with lower points Under this proposal, would receive the penght of the scles of only eight contracts.
Dometic No. 0 sugar thrift concesions previously closed unchanged to one polot say-bit negolinlod
member 84!1-6422
milment with 71-70
regard to her own wuchs. Bell markets were
dealing while traders prints. This arrassement would awaited developments in the ke a purely temporary one until
raw market. Prices closed as how found of such time as
follows:
United Prezz LONDON MARKET
Lordon, Sept. 8.
conTM
Production Estimate
Washington, Sept. #. Colton production in the United States is expected to redth 15,150,000 bales tá the 1953 setson, apourding
1slest 10 1 estimate. This
bales 854,000 above the August forecast and about air a million balesTMaGoyo`linde expecta-
tions.
qmela}
With a cotton carryover on Anaust 1 of abous live
daler, in the United
States are now estimated at more than 20,000,000 bales. On present demalki pross bocti, a further inpresse Ini alcoks on hard by next Aprust la ndteated--China Bfall Special..
Grain Prices
In Chicago
Chicago, Sept. D.
Paces of grain filines closed today as follows-
Wheat (No. 3. red, per bushel in
Spot
103
Sept, 1935( 190 ) 1994-15
Doc.
March 1854
2003-
. Mer
Como, 1, yellow, per bushël în crnits)
Spot
Bont.
March that May
15221-33
R20 (Prices per bushel in gentaj
Hept
27000 12431-135 Ons Prices per bushel in cente
Sept.
729) Dec. Soybeans Prices per bushel In cenis)
Spot
Sept.
Nov,
Jan. 4064
March
Xay
263 nom.
25934
25-01-14 2005
SHARE MARKET
(From Our Correspondent)):
Business dead on tip Bloch Exchange Whis morning rincun.ed to $180.120. Ncbn quotators nod the morning'e transactions→ SHAKEN BUYERS BELLUKS SALES BANKS
*HK/Dank INSURANCES
Union
Underwa ilk. Fire DOCKS, BIS K. Whan Dock
rovklont
Wheelock,
LAND. ETC.
4.00
**{. Hotel. 708 7.00
HI Land UTILITIES
TTER XD ... 34}1⁄2
Pak Tina
(olg) *****
Peak Tran
42
(Now... 21.10
SIGT FATTY
£
30 #
125 100
List (0) 12.80 17.70 7300
Taght (N) 0.90
Electric D 20.60 1700 25.00
21.70
STORES, ETC.
Dairy
20.30
W
COTTONS
Tenille MISDELLANEOUS
Yongtard
$45
.... 5.00
LONDON TIN
MARKET
London, Sept. 4. The tin market was firmer. Spot tin was marked down 43 to £819 and three-renthe Un rose £44 to £612 per long son. Tumaver was 40 tons of which five long weig for coch. Closing. pripes were:
Bpolin, buyers
sellers Diners
Barley-Price per busted in cents) is month tin, büyen qili
Epat.....*********
200 lbs. New York flour, $13.70 nom-United Press,
dick.
Helfern Buithesa Settlement
dils to dio
—United Prof.
JAPANESE BONDS Exchange Rates
London, Sept. 8.
Japanese bonda
"A" 148 of 1809; "D" (48 of 1019) "C" (da of INIT) "D" (6s
of 1729)
"E" (54% of 1050)
***** (Tokyo Sijs of 19201 "G" (Tokyo 39 of 1912) Conasia
8212
713
1290
Busines was done In the local niambia "
4th matkat exchang merung at the following rates:wed 1009, US, aditur per #1)
132
Sterling notes (per £11 (80%) Indunoslay guilders ((per- (50) 100
001%
| Štark Lipnim (per 100) 17
Singapote (Streite)
Indo China plastres - (per 100)
Ugly Situation In World Wheat Markets
By Sydney S. Campoil, Router's Financial 'Editor)" ·
There is at least a chance that the weakness of Wall Street and of wheat may herald the post. war U.8. business setback which hitherto in the past-war period has been constantly predicted and constantly falsified. Wall Street acts very badly. Weakness is too mild a word for whent s statistical position, which begins to look very ugly The artificial stability of world wheat Indeed. export prices is increasingly precarious. It is in more danger of collapsing than at any time since the war. If it did collapse, it could bring other things down with it.
"The major determinant of the payers being short of money in U.S. and world business outlook, take up tax anticipation perila namely the U.S. money position, tates adequately, they hayd After Honey cnough to take up swinging from pa extreme of Hight | Treasury bills and the
looks
4
Ilttle better.
the
Oftacting the
April id ab azurenje of a-septetiber Of Freieury's
In June and July, casy money
may be only because pollex hay swing back to lightly the business prospect itself is re tight of centre.
gürded more catiously, In ́ u In the past few weeks the U.S.slump monty i always cogy! It banks have averaged anall not joins Hi the general un
· unamplay= the from futures borrowings
central mont; but that végs bank banking system, contrasting with of how to vold a the heavy not borrowings which the Federal Reserve enforced in ought to be merely a
the one extreme, and The dificulties created by the April at with the large free reserves which ceiling on the national debt are the Fed allowed the banks to a temporary accident arising out have in June and July at the of U. S. constitutional proce other extreme.
dures, seasonal factors, and the The money position is easier timing of Congressional sittings than money policy. As the car on
the
one hand ood porations seem to have large tree Treniúty's
annual funds, the Treasury, bill rate has income
the other cycle on
countries in relum for com- higher with inles of 13 ไป
The rubber market was multilateralarin nedollatione contract No. 4 (world) quiet with No.
1 RSS spul could be bold. quoted at 194 pangg pound. Prices
1.00-2.09
7.BO
$20
closed as follows:-
02001
Settlement Hoved terms;.
.1458
Oct.
00234
Nov.
1
Dec.
Oct./Dec.
Jan Marcia
Apri/June
Tip 1914-1924 1001
July/Bept:
-United Press.
NEW YORK MARKET,
New York, Sept. 8.
The British Government has so of futures | tar refused to disclose iis afištudo
dwards this proposal.
It is pointed out in informed quarters. howiver, that much as Britain might dislike the arrange- ment, a declion whether to oppose it or not must take full account of the possible font of Its detions upon American opinion.
This means that Britain may
Rubber fúlurea closed today | hayo ta gruent.
Ays points tower to two points with other cou
higher with fales of "233 cqn" its own and Colorilat mückets in tracts.
Viarcli
Bept. Nov
per lb. fob contract". Ng.
Nove Jan. 1954 March
5.3 bla
3168 DOM.
3.ba nom. 231 bid ५-३०
060
bla
器
intled Press.
been falling and the Treasury's It would be quite prom the
big mid-September refunding my central bank to perform looks like being successful technicalities pozded to affect though successful
The
only In relation this technicality, Navertheless,
to Washington's endly reduced they, will have to be performed Afranions for funding and vi* and as they do not accord well...
national debt. tending the
with Republican monetare: Fedoral Reserve was philosophy, there is bound to be bound to help the Treasury's some uncertainty, until they arq operation, If its
help was Perform of the sellers on Wall
for ble querilor all merkals was how far the sme
nocenary.
The
fear à, repetition of the
Intra-degler switching oppra-London Foreign market, breaks which oc
between March December Hergijnted for all
bu
the total contracts made "market,"containe
Exchange
the Com
to extend
10 New York
Affsterdam
gule with traders at 10 da
Udaymoods, Spot. Smoked steeld werg' ayöte
Venetijela
Far Eat
closings ye
India rubitan Hongkong Judonesia Singapore
1934
United Press.
Der
mep
utmost.
Zurich
London, Sept. A. 2.00 5/8 - 2.00 12/10
1959 LOPK 310.00 - 190.35
10.98% -10.00 -
Bioekbo.m146632MMESS?
at involve Copenha the Idenj.df the Tasben nom Board of" Trade," has decided to Destaca
1330 nom. lead the British team to Geneva slasked Mark 1736-174,
·Mark
2.30 HOTL
himself.
- 11.6936 - 13.004% ?
United Press.
410 banks had to raise money by cirred "just" after" Helling tax anticipation Girline
entes fpater then taxpayers des
cundulated
'thio
the"
and
| 1940 for, the Fort", Abelkremir
Grul Dalwall street mayʻtaka.
mana to buy the
·üßd 'all
thèm: and the ima efee. Brinkola", "WHICH." J4. thong "Worth"
of the Treasury withdrawing" (14
can breathe money from the banks in the US, han cycle
under the debt again. If the money managers ka eltoit to stay celling,, (In practice the Treasury Washington keep the'r
Harve rotrains from paying money into after the Teftamity's" | |; sted". the banks, but that comes to September financing, all may be well. Fill their nýrys, pay be ́pressures | severely deiled and, pending, the 80 far from | outcome, markets are likely to
the same thing:)
"The first" of
does not yet arisa,
| corporations and
other" tax, i remain, cautious/Router.