MESSAGERIES
P.O. Box $1. Queen's Bi4g.
M
Tel: 26651.
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 23, 1953. ▼
MARITIMES DELAYS IN SHIP REPLACEMENT|New Oil Caused By Taxation & High Costs Of Construction NEW YORK Projects
M
FÁST PASSENGER/FREIGHT SERVICE
from Marseilles
"LA MARSEILLAISE”
“VIET NAM
4 Get.
For Yokolia:na
Yokohama
kenves Marseilles
15 Sept
Lite II.K. * Oct.
Nuy.
"CAMBODGE"
#1 Bet.
4 Nov,
To Margaller
Leaves Hongkong
"LA MARSEILLAISÉ“
21 Oct.
1. Not.
"VIETNAM
......
3 Nov,
26 Nov.
19 Nov,
12 Dec.
Balzon Nalgon Helgon
"CAMBODGE"
སྙད་
Via Marselles to alt Méditerranean & West Africa Poria VI Djibouti to Madagascar,
From Europe
AURAY
"IRAQUADDY
"MUNKAY"
To Europo
"COURSEULLES
"AURAY"
"IRAQUADDY"
FREIGHT SERVICE
Left
Duo LK.
•Antwerp-27 July
20. Bept.
....Antwerp-- 1 Rept.
Dunkirk early art.
Leaves Kering
9 Del.
20 Oct.
12 Nov.
10 Oct.
21 Nov Loves T.K.
ม
Oct.
Nov.
I MUST.
For
Manta & Japan Antifadapan Stalls & Japan
For
F
(Hatton, Singapore, Djiboull, Mariellen, Algiers, Olan, Tanglers, Casablanca, Le Havre, Antwerp, fötterdaft & Dunkirk. #abject to change without notice.
EVERETT LINes
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korca, Japan, Philippines, Indo- China, Slam, Salata, Rangoon, Calcutta and chittagong.
"LENEVERETT"
Arrives Salls
Oct. 5 from Singapore. Oci, é for Robe
"BRADEVERETT”
Oct. 10 om Maalla.
Arrivés Satis
SAMMA
HONGKONG SHARE MARKET
(From Our Correspondent) Bustiera, done on the Stock Exchange this morning amount- ed in $281,053,75. Noon quota- tions and the morning's transac- SHARES BUYKDN SELLERS SALES HANKS
1327" 2 0 370
Err Ald INSURANCES
Underwater 5.10
Fire
137
SUITING
internat
19
170 19
DOCKS, ETC.
K. Whart INICK
Go
22 500 g 21.40
230 12
1 0.65 000
2000
2300
Provint shat Bork
<< vt
LAND ETC
Tin Hotel
hh Land XD Trampreys
2 7 90 500 1
30
43
... 21.to
ITA
Jak m
T
Pk Tram
Star Ferry
120
C. Eight
1 10
C
Luty 20
& Yokoham”.
et X1 26.90 Macau Bice.
..21 4he panora
H
Oct, 17 for Slogapors, itangoon
*
PeDank. Calcutta,
(Accepting cargo lór trambipment Robé/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 ALCYONE”
In Port Salts
Loading
Sept. 23 for Singapore, Port Swetten-
ham,
Penang,
Madras, Colombo, Cochin, Bombay, Karachi, Kharramshahr, Basrah & Bahrein,
1.80 |
Deterioration
Of Merchant
Marine Causing Concern
Jubilee_report_of the council, of the Officers' (Merchant Navy) Federation, which was incorporated on May 14, 1928, says it is most con- fident in its belief that the Merchant Navy has never been hi better heart
than it is today.
"At the dawn of what, under God's Providence, will be a forg nhd happy reign, the officera of the Merchant Navy pledge themselves to unswerving loyalty and devotion to her Majesty and her house, to the service of their peoples, to the main- tenance of scamanlike efficiency, to loyalty to their ships and to those who own and manage them, and to their brother officers, in the maintenance of those things to which they aro most justly due.''
the
to
of
ing
be
less
STOCK
Refinery
Sydney, Sopt: 22. A large new oil refinery is sprouting on the shores kpot where Captain Cook first Janded In 1778.
EXCHANGE Botany Bay, the historic
Widespread Gains
New York, Sept. 22. Gains ranging to $2.00 and more in all sections tolay gave the market one
of its best advances of the
year.
An
It is one of four large refinery projects now under construction in Austraila. The Anglo- bulding Ferth cut- Tranian Oil Company le "litt ban ot ing nearly, USSD0,000,000.
of New York imperative therut US35,000,000 Aust
cnlarging its Installation nt Melbourne. Shell is pulling up
15
The rise added some $1,500. 000,000 10 the paper value of all o Hiled storks.
rafix
ubillary
of
at
Victor refinery at Geelong,
The £2,000
project It got under way at the
tion by the middle of 1933. and ained momentum opening under the leadership of Buldny Bay is due for comple- gains - Australian Oil Refining, a with wide
[ California-Texas- vie | subsidiary steels, for molors,
televisions, aircrafts Oil Company (Caltex), hopes to turt out 430.000 gallons of took their
པས climbs following petrol a day when this refinery
Treasury
end carth-moving Bulldozers machines have already, flattened sandhills and changed the con- peninsula lours of the Kurnell refinery site, about 15 miles from the heart of Sydney. The company is also busy putting in s:wertige roads, power, water, ant other services.
10
In
high
Reviewing the general activities are not only dependent on milittle, but nevertheless going for of the post, the report elates that for power, but diso are specially | towards providing a more con-
pearing federation has continued built for the chrringe of a pro-lented and hence mbre efficient ately
chemicals, c/fectively to fulfil its funcion of duct primarily found in foreign sea-going staff.
Summing up. muld-1053 inds through countries from whöni it munt
and tyres. Prices providing a medium
before it is trans- the Basic conditions of service which the fates organisations be bought
e-arid the overall position of the sharpest Britnin
itie 1.0 can maintale contact, and where parted
for
of British seafarer generally satis-1 Seetary reassuranca that necessary ince joint action penning.
Lactors:
Huned Aty concern for the common tantiers of a general There can be no question
the
tax cuts will promis of future must be based on the 1.03 nature offecting thet: member the reversal of this trend,
fear
that, in an era of intensify-into effect on schedule. ship. In recording this fact,
for the session Total rese course, but until atomic power
maritime competition, the council thinks that it is timely to
Пес! shipplag
will remounted 10 1.300.000 chards. proposition, Britain's 100 e 23.10 point out the membership of the has been developed as a com- Brigh
Industrials up 3.27 points well- Omeen Federation does not in merefal
almost ressively
than its foreign com-threin average, tails were up 1.00 any way restrict the full inde-industry must remain
the Market analysts penters and liberty of action of wholly dependent upon a pro- petitori;, that the tendency to and utiles gained 48 cm's. the individual crganisations induct which has to be brought wards the present unbalance In 3000 13.10 dealing with there matters which from abroad in ships which can such a fleet will become even Tretoury Secretary's eassurance 300 13.20 are properly their sole respon- be used for no other purpose, more apparent; and, finally, that that the Government "dedicated
ibility as autonomous organim-In, particular, both clef and artificial trade barriers all so-to the maintenance of a
military avlation would be im- called "fldg discrimination will level of employment and pro- British Seafarer, duction and will putrue police mobilised within a relatively prevent the
that end" helped brief space of time should the from demonstrating his tradelleviate any fenes that might
the herited skill
President Product with 1 in the flow of this essential As was foreshadowed
Bedjükred
froin generations. of have stemmed from forebears
Eisenhower's speech last night 13 40 18.00 500 6 10.30122013 do: 1992, the number of ever be halted.
com-sen-going Recently, 500 et 18. federated organizations was in-
creased during the year as d paties have been affected by The council's report will be Fnplying a possible continued
submitted to the governing
heavy lax burden. inta what is rowadays known as a
Gains in olls soft spots result of the acceptance
ranged to $4.00 In encenbership of the Aden Harbour
en hour "recession," but which can affect bodies of the federated organisa- Pilots Asociaubt.
incmbers of the federated tions for consideration and, if yesterday
$2.25 in the the total number of organisations organisations in the same way approved, adoption at the 20th Texas Puellie and Land Trust,
annual general meeting to be Dupont gained amitated within the federation to #5
Or 1,113 issues traded rexili. Corp 5 sa 535 ion 3.60 12, and the lims of preparation Reference is made in the report held in the council chamber of chemicals
advanced, 108 declined and 235 of this resort a further applica to one aspect of this, bearing Lloyd's Register of Shipping, at
ich is for Hand from the Milparifeularly on those serving
ving in 11.30 a.m. on Thursday,
were unchanged,
York Stock Union of Pakistan, which has yet
The New Where once a slump
change bond
the American Steck Exchange 320,000 shares.-United Press.
INDUTHALS
Centr
BI STOIS, Erc Duty Xi
B07 91. 2000-
22 000 21.00 M12
27.78
23.30 23.00
24.10 1300 - 24
WAIMA
1... Crowfotel 3 COLTONS
MISCELLANEOUS
Yangiaze
2.25
1.90
The Rubber
Markets
:1
"THAI"
Arrives Salls
Oct. 5
from Sandakan, Oct. 0 for
Pusan, Kobe
Yokohama.
No. 3 rubber per th
Nov. Dec. No. 2 rubber per t.
Oct.
631-63' 03-0314 16-01
$8241975
(Accepting carro for transhiptment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the Tepublic of Panama
With Limited Liability
Queen's Building, Telephone 31206. Chinese Department: Telophonë. 28293.
PENINSULAR
& ORIENTAL
SEPARABIT
STEAM NAVIGATION CO.
R.M.S. "CARTHAGE’
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
Friday the 25th September at 12.00 noot for the UNITED KINGDOM vla Straits, Colombo, Bombay, Aden and Port Said.
Passengers are requested to send ALL buggage to the Hongkong & Kowloon Wharf Co's Godown nt No. 2 Gate, CANTON ROAD ENTRANCE, by NOON on Thursday, 24th. September 1953.
SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co's Godown for loading on board by ship's slings only. BAGGAGE COOLIES WILL NOT BE ENTER THE PERMITTED TO WHARF.
EMBARKATION: Passengers should embark between
9.30 and 11.00 am on Friday, the 26th September, 1963,
BUSINESS REGULATION
ORDINANCE, 1952
Coples of the prescribed Forms 1(a) 1(b) and 1 (c)
Now On Sale at S. C. M. Post; Ltd. HONGKONG AND KOWLOON TEN CENTS EACH
Lens.
FEDERATEN BODIES
the
did once
Sinkers.
tanker
д "slump.
to be considered formally, by tied to the laying up of indivi- London Foreign $3,050,000 and volume was
cowic, but which is posted.
will
result in the acceden te dual hits of a deel, beginning the least economical to membership of a further repre
<fferent considerations sentative Commonwealth officers'
scem to apply when laying up organisation.
tonkers,
run,
and
Lisbon
Exchange
London, Sept. 22.
Deutsche Mark Blocked Mark
it remains a matter for regret
In a fleet composed partly of New York Government trat o effective
Montreal Singapore, Sept. 22.
the new class of "supertárker"
Amsterdam sarpaction has yet been taken to
of smbiler units, BrussCIN Liquidation caused
partly dip in the rubber market to facilitate the progressive replace-
Oslo experience has shown that u however, were ment of Britain's obsolescent day. Offering
esent number of the smaller vessels Zurich the shipping
the present casing by absorbed tri Hradually
the report can be laid up and effectively Copenhagen closed stentler. burien of taxation, afternoon and
so far as carrying Stockholm the replaced the eiosed of futures
asiates. During Prices
yeur, shipping Press has continually capacity is concerned by one follows:-
supertar ker. Additionally, re- No. Fulber per ib.
featured warnings of the poten- Lally dienstrous consequences of duetion of the ruling speed of Oct.
982211 neglect. Example after the larger tanker eat also show exemple has been quoted of the substantial ecoramics both in shipowner's need to be able to fiel consumption and in the of carrying capacity set aside each year approximate amount
an-which would otherwise have to ly one-twentieth of the ticipated t
replacement cost of
only INDUSTRIAL RELATIONŠ each ship la his fleet, 521-53%
its original nulluin the feet al
The effect of this is that one The continuing de-| supertanker manned by a crew strength. mands of uixation, however, and very little, if any, greater in the tinherited rise in the cost of ruimber Bian that of a smaller
frustrating the thinker, can was new ships are
substitute Cumber carrying out-of-this-prudent-and in-time-et-simp-for-2 necessary practice.
Oct
No. 4 rubber per tb.
Oct.
09-09
0711-671%
Spot rabber tales 62-621 Flanket crepe
No. 1 pale crepe
10-72 -United Premt. LONDON MÄRKET
London, Sept. 22. The rubber market steadier after early easy
No. 1 RSS session with
spot again reaching the year's low 1. Settlement: 78-11/18 per house terms for futures were ns follows:-
Nov.
Dec.
Jan./March
April/June
July/Sept.
10%-187' En2-10
11-194
FOREIGN COMPETITION
lifetime
be devoted to bankers.
of smaller táncers. The coh sequent effect on the membera
of the federated organisation is
Within the
of its most disturbing, as is the fact members, the council has seen that the more arduous duties of Brinin's merchant fleet decrease the
relatively sthall ews
No
2.00 -2.00
2.75-2.75 44 10.62-30.02
106.05-140.13 19.06 -19.90. 12.17-12.17%. 18.33 15-18 30 981 14-001 44
14.43-14.44 12 79.67-80.10 11.6034-11.GD 1526-153, -United Press,
volume
710
Ex- at
WES
Js Balshed.
Engineers estimate that within two years the plant will be ready to start refining 770,000 gallons of crude oil a day or about 8,000,000 barrels year.
Running well on schedule, the engineers already have:
1. Pumped about 2,000,000
Jotty 2, Built cubic fards of silt from the bay. nearly a mile long.
a concrete
cap-
3. Erected steel tanks able
of holding 70,000,000 lionsVORLDWIDE. FLAŃ
roTM
Collex decided to establish this refinery
Australia 13
de parl
worldwide centralisation plan. The parent American oil
is company ported to be Investing more thum $30,000,000 in materials, equipment and capital contribu- uns. It niso sent a team or to head the experienced experts
JAPANESE BÖNDS construction of the refinery.
London, Sept. 22,
Japanese bonds
"A" (1 of 1) | "D" (4 of 10)
045
15% of 1007
129
(59 of 19241
18 of 1030)
"1"
Tokyo 5s of 1026) "G" (Tokyo As of 1013) Console
10043
Umited "Pies.
Evidence Of Wheat Offers By
Russia, Argentina
London, Sept. 22.
Canadian officials may be right in asserting that there has been no recent evidence of either From 42 pbt cent. of the world's operating supertarkers on Argentina or Russia offering large amounts of total shipping in active employ-be assumed to be contributing
potential unemploy- Wheat bn the world market. ment in 1913 to a figure of 24 towards per cent, in 1952. As the elected ment among their fellow sea
who
farers, representatives of those
In the conclusion of the re- must
that, in 1933, man and sail Britain's
It is stated chips, the council Industrial relations in the ship- mereliant views with the gravest concern
universally the continued deterioration fnping Industry
stand at this situation. Particularly does acknowledged to
ever before, 11 deplore the fact that members higher level than
effort necessary.pn The extra 22.80 bid of the federated
organisations Th
101-10 291%-10% United Press, NEW YORK MARKET
New York, Sept. 22. Rubber futures today closed 5 to 11 pointe lower with sales of 5 continets,
Spot No. 1 RSS were quired nt 2214 cents per pound.
prises closel as follows:-
Dec.
Merch 1954
May
July
Doc.
Futures
22.50 hid
22.15 bid steadily
22.75 bid from
22.75 bldH
United Prem.
LONDON TIN
MARKET
üro
But one reason may be that neither country. sees much point in pressing offers on what it would be flatter- ing to describe as an unwilling market-dried-up or non- existent would be more accurate at the moment and anyway some of the offers and even some of the sales by
Canada's competitors are not to be sneezed at,
2
Main units in the refinery ure ticlude two-stage crudo unit, a fluid catalytic distation cracking unit with gas ricovery,
propane, decarbonisation unit, inhibiting and plant for treating,
blending the products.
The refinery's design allows for modifications to treat crudo oll that may be discovered in or tear Australia. Caltex is' cur- rently
för oli
at
ntrol.
searching Exmouth 'Gulf in Western Aus- trulla. Oil searches are also being pushed in Northern Queensland and in New Guirica.
The
will produce relinery
kerosene, dis- lighting tinte, industrial diesel oli and Mtel o!!, Frolitics are also planned tor the "ethylising** und blending of high netona aviation petrol.
(Ethylising is the addition of lead-tetra-ethyl and other com- pounds
reduce engino
ta
"krock".)-United Press,
Firmness In
New York
Cotton Prices
New York, Sept. 22. Cotton futures today opened closed firmi in steady and moderately active dealings.
The stock market rise, along
On one single recent day, indicate that some countries are confident as they 22.70 bid are being called upon to uncer both sides to maintain and over Argentina sold 124,500 tons to nol feeling":
to raise this level
can be re- Japan and Feru. That was an were. Markets sumetimes get competition Intl growing
50 far as the exceptional day - small.
into the state where they modern, effelent,
and individual seffarer is concerne-sules, are sporadic-but Canaday stand everything except emcial with covering in October de- economically operated foreign ed, the
livery before, first notice day on contribution ho
cad which has far more to sell theri reassurances, ships while serving in vessels make in this respost, and In
Argentina, actually sold, in the,
Tuesday and a reduced volume tob many of which are the more efficient running
NO MEANING whole of that week, 3,000 tons
of hedge-selling, all helped to lifting power. It would be entier to decipher generate the price appreaching the end of the his ship, will naturally vary within the International Wheat effective working life, and which according to the degree of re- Agreement and precious Hitle these Canadian contentions if Ring exports cold that outside
AS they
the "world wheat price had commission houses were buyers sponsibility he is called upon to outside it. cannot be replaced should,
bear.
Canada herself of October in the belief that Russia has no real surplus of any raconing. On the owner's side, en
Hii contract.
tenders
may be The olitcome of such a frend
the IWA light is Inevitable. Past events have couragement for the seafarer in wheat she never has but she holds her wheat not merely
The open position in maximum of $2.05, Britain's extreme making such efforts can most probably would sell if she could near but jammed at shown
October, at the start of trading And a market and if she could
On every single day for more today was 250,500 bales. Tho event abundantly clear that is with her seaborne trade,
There may be more dielly when this has
IWA wheat has been precisely 133,555 bales.
London, Sept. 22. The tin market was firmer Prices the day. throughout
scssien as follows!
elesed at the unofficial afternoon vulnerability to any interference | simply be expressed by make get what she wants' I return than three weeks, her price for certificated stocks umounted to
Spot tin, buyers
Bellero
tuxiners
3-month tin, buyers
sellers
Burtness Settlement
been largely jelloris are appreciated as being out finding the markets, that the maximum, varying only |Prices closed, as follows: 015-012 tried in her own ships. How responsible and valuable com hout finding goods for Bush to with the trifling Buctuations Spot
015
€1711⁄2
503 004 GOL-002
Turnover: 130 tons of which 15 lons were for exsti-United Press,
Commodities In America
niuchi, more vulnerable will she become in the future I, as now seems inevitable, she has to be come increasingly, dependent on
the services of ships sailing should in no elreilhstarices give also wants some goods which he non-IWA,` wheất has
bo
A
3906!
.
5345
-33.01.
of tributions to the furtherance his
buy. She wants some consumer company's affairs.
tho Canadian-U.S. dollar 'ex- October which
December Above all, the treatment by a
are plentiful.
change rate. On every day March (1954) inly for political reasons shu sc-going stan
throughout that perled her price Mar company of its sca
bluty on the banned list ON
BIB October been the IWA maximum, except necember Всеп under the flags of other nationst the impression that either their
services
c but there ought be status are of bus or
strategic
23.19 bid The council aincerely hopes tie
United Press. opparent account. It is less dimculty in liberalising that three days when the price was Merch (1955)'' that
come unfortunately the fact that in list now that Russia, herself as what are supposed to
cont above it. For the day will never
is about
NEW ORLEANS PRICES be. free
New Orleans, Sept. 22,'- what would seem when
officials of too many instances
markets, this is the type of ghrome, tungsten and stablilly" that begins to manganese,,
Prices of cotton futures closed develop
look 101167, butéohte shore štails of shipping criminering, such straterie goods as New York, Sept. 22,
banies have treated even senior
nior #latinum. As to Canada's other
today as follows: At the same shipmasters off-hatid
offeers in are
competliers Bri wheat
Bri- more like rigor mortis. Mixed price changes and quiet ultimate test.
but deplord arrogant and
This pricing," so Manner
reckon that dealing featured the overall time,
December that any British Government which it is hard to believe can they needed it and could finance meeting the world price and commodity trading today.
Grains were steering opera- such a risk.
Soybeans is apparently prepared to run have been know to, and ter-It, they could buy up to 14 continuing to remain competl May
tairily
not approved by, the millio
fons from what are tive, does not strengthened on com
meet the July even
October Some export covering
The council has referred in directors of
Importing countries price asked by the other mem-
ukan | December, consernio
American March, (1956). developed in corn against over-conto some of the panics
such as France, Sweden and ber of the North
United Press. GRANTING sales to Norway aid the personal problems facing mem
"OF LEAVE Greces
It is the exporting cartel. By subsidising its ex- night
the all too many countries that are not offering ports United Kingdon,
well below to downt
Dar-es-Salaam, Sept. 22: selling
muck wheat at WA maximum, the U.S. does At Chicago, wheat closed up bera of the federated organish Additionally,
ptions who serve in oil tankers, chees are known of an apparent or 14
Traders, gave a cool reception 11 hot manage to sell very much, to off cent, Boybeans
of During the year, attention has indiference being shown in the present 354
Canadian Other to cents.
contentions but it sells more than Canada to news that two classes been drawn to the general carrying out of the netbssary
formalities: preceding, the At Winnipe
are that the fact that the IWA can sell at the maximum. The Japanese textiles are to be question of whether it can be considered, afi. entirely heality is of leave, with scam
2
wheat was priced at 180 cents per bushel.
Unked Press.
it cannot
the
con-
far
from
October
March (1054).
31.12
13.10
development from the Brittny/being paid to the sling
price holds, near · thò | Canadiah dsking price for wheat' l'aimilited to, the African market
Vi theo khi đóng của 186, Toi Chia có in the burrites, or off,
the Bra, can
this
maximum of 2.03... U.S... dollars resembles Chile'a recent asking next year.
Both
classed grey unbichthea of view that such a high effects which this will have un indicates that the exporting price for copper. It is lie sheet by and 'kikol--are at prem bold
As much as any qther countries feel that there is no price that is not being paid. Exchange Rates percentage of her ships, ard the personal life of...thorojopa
or heed to pante, and that
The Canadian Wheat Board, ent imported from India et this apparent dlarbord pr
Cuhada Instead of the majority of
In meeting the world wheat cannot and buyers of If, and the prices below those-chargeti-ky,
Japan,
it India' removed the export her ships deriving their power deprecated feeling of frustration price and will continue to re- Canadiais farmern, cannot di 11 from ma *** being
Capable of and dillonment in a marter main competitive. Certainly no because, with exports paralysed, duty, as has been rumoured, Thero la clear room exporting country to Panicking there is to storage this watch then Japan would be left further 10.50 Transfling coal,, ninetal or officer.
trade circle8--8 32.70 existing in abundance. In the here for an improvement in In--not yet, at any rate-but these they can deliver and get våld behind, sald
themselves China Mait Special, 340 islands, the incredsing, majority dustrial relations costing but omcial reassurances
invening at the blowing kate
UB. dollar (per, 81)
Sterling Holder excitons
Indonesien guliders (per 100)
Blam licals (per 100)
Ringapore (Btzita)
Indochina plastres (per 100)
1.78
Router