ANSPORTATION
Home Ship Expansion Second To Export In Japan
THE Japanese Government has decided that the national interest lies more in encouraging the export of shipping than it does in expanding Japan's domestic shipping lines,
War
177-
This atillude has been eleorly | chipping lines to prevent
the expressed In the decision to sale of top-grade cargo-liners to allow the sale of 12 fast cargo | Oje Philippines
Government liners to the Philippines under disguised that the the Philippines-Japan Repara-had itle choice but to approve the deal, stand publicly lens Agreement.
convicted of using reparations Japantee shipping lines were further Japan's commercial bliterly opposed
interests.
to the Rule. more
which they held up for
thon six months. The new | A CRISIS- Suspola, they fear, will be used
or
Ten sourets painted out that
to compete with Japanese-Dug ships on the For East-New York Japan did not accept the pro- | poder contracts, they would be et to ither West Germany, or
jun.
However, Japanese Govern-Holland. In addition, of course, ment officials have muce li clear rufusal
The orderi to accept that they are in favour of any- | under the reparations agreem thing which might help to linement would bring about a crisis In Philippines-Japanese rela- prove Japanese "economie ca- operation" with Southeast Asian ¦ tions. countries.
-- "The Japanese pre particularly sensitive to the charge that they are using reparations to gain a fouthold in the Southeast Asian Market.
The pressure brought to bear on the Government by Japanese
Jet Invasion
Of London
[ANY more jet airliners Airport this summer, British
¦
The opposition of Japanese, shipping concerns to the con- tracts was not, however, based so much on fear of direct com- petition as on the fuel thist the
ma being offered were from more favourable than anything which could be obtained by Japanese interests.
The tentative terms for the ships, which were agreed upont by three Mitsubishi
concerns
the
eight-year with
ane
the National Development Company of the Philippines isle last year, call for a down pay- ment of 15 per cent and payment of the remaining sum an annual Interest of 4 per cent. Overseas Airways Corpora- These terms meos that each tion expects to have about a ship would cost roughly dozon of its 19 Comet 4's by £25.000 less than a Japanese mid-Juno, and many more company would have to pay for it. The Japanese shipping com- Comet servicos are being panles fear that the freighters built up this year.
Boac's rivals on the Atlantic service, Pan Amorienn Airways. Ja through the summer lying two Boeing 707's a clay rachi way between London and New Yeric.
TU's
CARAVELLES
In May or June, Londen Airport will hear the thunder of the Russian TU104's as the Sovie! airline, Aeroflot, opens up the Moscow-London service in agreement with British Europeen
Airways.
French Caravelle bo dying
Jela will In and obl
e.
Lonci twice a day front early Jung Air France puka the new, fast cirliners ca services 16 Paris and Nice
Live
In July, mure Boeing 707's,
in the colours of Australia's Qantas Empire Airways,
be flying in from Sydney.
will
This service will bring Sydney and Londen withtri 38 hours of euch cher, by way of the
B Racillo accosta United States.
end over the Ailantie.
will be placed on the profitable Far East-New York run, which is now rigidly controlled by a shipping conference.
THE CHINA MAIL, TUESDAY, APRIL 14, 1959,
IRREGULAR TRADING HONGKONG
IN LONDON AT ACCOUNT ENDING
London, April 13.
The stock market moved irregularly in subdued
trading today,
STOCK EXCHANGE
Our Own Cazzapond at
Busine done on the Hong- kong Stock Exchange title Free State Development & Invest- | morning_amounted to approxi
mately $544,000. 10: ments 71.
Noon quota- tion and the morning's trans- actions:
Buyers had Uttle incentive
ending with the account Morrow,
Gill-edged securities, under the influence u! new Irauca, The foreign bond. mir- kot was quiet with Greek bonis down
dolinr Foreign some.
cart.
alocks were mixed.
Among the Industrials,
machine tool gineering shares Improved
crafts
wend
and other сп
bút steel eared. Motors and air- qulat. Textiles Armed in ight volume, Oll and rubber shtres moved erratically and Anished quietly irregular." Johannesburg buying rolled gold shares briefly bui market
was quiet neat the cloze.-U.P.1.
Closing Prices
the
Closing prices on the London Murkel were:
Gledard Bonds Brill Transport 3. 100/- €00-8/10,
Console 24-912. Consule 12-£16-5/16
Conversloh Loan 5. 1669-
Funding Loan 216. 1900/00- 2011/10
339%, 1029/2004-
1500/00--
Funding Block
2734.
Funding
401-3/10.
Saving
Loan
Saving, 1939/83-EM.
03 34.
П
190/75-270.
Irtered Uonk-47 Od. Jongkong - £45.
Southern Kini Con LA-211
Longkong Arts 1991
Petalind.
Tin-di G.
29.
Went
Union Corp-540 Tijd.
Driefontein
Khares BANICS
Duyara sere SAJAY
Goldmining-
HK Bank.
020
20 B1212
2248 4:56.
West Rand Cons-340.
13
Waterbost
231
Wherlock
Brille Borneo Petroleum Synol-
Britiuli Petroleum Co., Ltel,-B20, Burmab-dim od.
Royal Dutch Petroleum-430-3/10. Shell Transport & Trading=1504 Bd.
New York
Cotton Market
القاسم
INSURANCES
Unloa... SIPPING" Lombard
DOCKS, ETC.
Book 3014 Provideni,
120 47
300
0.00
30 200
3072
(0) .... 21.40 11.30
Talkoo.....
LAND, ETC. HK Jctel
33 331
400 hr