1946-08-22 — Page 7

DE LA RAMA LINES

EXPRESS CARGO LINER SERVICES

TO AND FROM PACIFIC & ATLANTIC COASTS

VESSEL

DUE

9.3. PANAY

27 Aug.

LOADING FOR Manila. (Immediate

*M.V. BENGAL

25 Aug.

M.V. TRAVANCORE

2 Sept.

Discharge) Pacific Const via Cobu Pacific Coast via

M.V. DONA NATI

27 Sept.

Shanghai & Philippines Pacific/Atlantic Coats

(Accepts Passengers for Cobu)

· THE DE LA RAMA STEAMSHIP CO,"ING.

Pedder Building

6th Floor

TEL: 23876

Cable Addreon:

"RAMA"

BUTTERFIELD & SWIRE

1. CONNAUGHT ROAD CENTRAL Telophones: 80831-8 Private Exchange.

THE CHINA MAIL, THURSDAY, AUGUST 22, 1040;

Pare 7

Chinese Dollar Move JARDINE, MATHESON & CO., LTD.

No Surprise

London, Aug. 21. Yesterday's substantial devaluation in the Chinese dollar caused no surprise to Eastern bankers here, the Times city editor commented. The open market rate of CN$3,600 per US$1 im- plies that the new exchange rate can have no finality as long as there is an increase of un- covered Government expenditure and the internal strife continues.

Exchanges In London

га

Agents: CHINA NAVIGATION CO., LTD. Uruguay

"TSINAN"

"FENGTIEN"

“HANYANG"

"FENGTIEN" “HANKANG"

"TATSHAN"

SAILINGS TO

Swatow & Shanghat 4 pm. 25th Aug. Shanghai 4 p.m. 25th Aug. Shanghal & Tientsin 4 p.m. 29th Aug.

ARRIVALS FROM

..... Whampoa 3 p.m. 24th Aug. Aug. Tientsin and Shanghai 20th CANTON RIVER LINE

Arrives 3 p.m. 24th Aug. Salla 0 a.m. 20th Aug. Arrives 1 p.m. 28th Aug. Salls 8 a.m. 30th Aug.

Agents: BLUE FUNNEL LINE

NEW YORK SERVICE

"AJAX"

"GLENSTRAE"

"BELLEROPHON"

"SAMJACK"

"BENRINNES"

"AJAX"

New York end of August

VESSELS DUE

30th August Early Sept. 29th August Mid Sept.

.from New York via Shanghai 23rd August

AUSTRALIAN

"YOCHOW" "TAIPING"

Agents:

ORIENTAL LINE, LTD.

OT

SAILINGS TO

about 27th Aug. Sydney Melbourne on

Sydney on or about 5th Sept. ARRIVALS FROM

“TAIPING".. from Australia vin Japan on or about 3rd Sept.

All The Above Subject To Alteration Without Notice. For Passage and Freight Particulars Apply To The Above.

DOUGLAS STEAMSHIP CO., LTD.

S. S. "Haiyang"

Sailing for Swatow & Amoy on 22nd Aug, at 3 p.m.

Subject to alteration without Notice.

For Particulars of Freight & Passago. Please apply to:---

DOUGLAS LAPRAIK & CO.

General Managers.

P. & O. Building. 5th, floor. Tel. 23755.

or

CHINESE SHIPPING DEPT. 20 Connaught Road, Central. Tel. 24639.

AMERICAN PRESIDENT LINES LTD.

Speed-Frequency-Dependability

Refrigeration-Special Cargo Oil Tanks-Cargocaire-Specia

8.8. "IRAQ VICTORY"

S.S. "GENERAL MEIGS"

·99, "SAN MATEO VICTORY"

S.S. "GENERAL MEIGS"

SAILING

FOR

22nd Aug. San Francisco & Los Angeles. 23rd Aug. Manila (passage only) 26th Aug. New York & Boston. 31st Aug. Shanghal & San Fran-

cisco. Singapore, Colombo, Bombay,

Suez, Port Sald, Alexandria, Naples, Genoa, Mar-

S.S. "LOUIS MCHENRY HOWE" 7th Sept,

A VESSEL

seilles, New York & Boston.

ང

2nd half Sept. New York & Boston. For Passage and Freight apply to:-- AMERICAN PRESIDENT LINES LTD.

At Goorire's Bldg.

Tel. No. 28172/28175.

London, Aug. 20.

|

When these handicaps have been removed and when trans- purt allows free movement from the interior, the foundations will have been laid for a stable currency. Until then the Chinese authorities can

only hope to hold the exchangà for limited periods at gradually de- preciating rates for the Chinese! dollar.

Cost of living in Shanghai is roughly 4,000 times pre-war while the exchange rate is about 2.000 times prewar.

Price inflation in the interior is much more modest and with adequate transport, the Shang- hai price level could be drasti- cally reduced and China's porta increased.

London Stock Exchange

ล

London, Aug. 20.

SHIPPING DEPARTMENT

16 Paddor Atroci Tel. 0811.

General Manager.

INDO-CHINA 5. N. CO., LTD.

The stacks market remainas.s. "EMPIRE PERLIS" highly professional, Business was small with prices tending to drift aimlessly..

S.S. "WINGSANG" 5.3. "TAKSANG"

[S.S. "WINGSANG"

SAILINGS

(no passengers) to Shanghai 25th Aug to Shanghai 27th Aug.

to Singapore & Penang 20th Aug. ARRIVALS

from Shanghai 23rd Aug. from "Calcutta & Singapore 23rd. Aug. from Shanghai vla Keelung 25th Aug.

IN FORT

.Kowloon Dock Kowloon Dock Buoy A.12.

Subject to alteration without notice.

There was not great change in, industrials though small inquiry appeared on Calcutta Electric.

Tea and rubbers wexo rather S.S. "EMPIRE PERLIS” neglected. Jutes also lacked sup- SS. "TAKSANG"

banke were ir ort. Eastern regular, with higher but Hongkong and Shang- S.S. WOSANG Chartered 1/10

hai

Bank half lower at 90.-Reu- S.S. "EMPIRE FARRAR” Mor

is.s. "MAUSÅNG", Consols, 2% per cent 1945/75 07. Conversion Loan, 3% por cent 112%, War Loan,

per cent 100-15/16. Now War Loan, 3 per cent 106-11/10, Victory Bonds, All intending Passengers are requested to register their names as per cent 118% German Loan, far as possibis in advance of the time at which they wish to teare per cent (Dawes) 10%, Japaness Bonds, 5

21%, coht. 1967, per

Agants: GLEN LINE LTD. Canton-Kowloon Railway 22, Tien- tein Pakow Railway. per cent SS. "SAMSETTE"

U. Hai Rly. 25. Lung-Taing

$5. 'TROMETHEUS” **ss. "GLENAFTARIC per cont. 1918 22, Reorg 6 per cent 1913 (London I56) 48. Crise Loan, 5 per cent. 1911 [M.V. "GLENARTNEY" 45, Hukuang Railway. G per cent, M.V. "GLENSTRAE" loads for Rotterdam, Antwerp Amsterdam & The new exchange rate with 1021 27. Honan Railway, 5 per removal of export duties cent, 1005 30. Shanghai Nanking should benent exports just as a wank of India "A" 22, Char- long as it is not offset by rising tile

6 per cent 27, Morcan-

19

Loan.

On New York 4.025, 4.035, Mon- trea! 4.02, 4.04, Zurich 17.84, 17.38. Stockholm 14.47, 14.00, Buenos Aires

unquoted, Brazil 75.4416, Brazil

(Fallers)

unquoted, unquoted, Belgium 107.50, Faris & French Empire 479.50, 480.80.

Syria 881, Lisbon 98.80, 100.20, Swiss Bank Notes Middle 17.25, 17.60, Nother- lands West Indies 7.68, Holland 10.63, Panama

4.02.

4.04. Den mark 19.32, 19.36, Prague

1201, 202, Norway 19.98, 20.02.

Forward

One Month Rates: D. Canada United States น D. Switzerland P. D. prices but it is unlikely to rebred Bank of A. 6. Cr

P

13% Sweden 1 g 1% D, Paris 40 duco imports much while the H.K. & Shanghai Banking Cor- conta. 40 cents, Holland 1 cent, existing very high profits cauporation 90, Lydenburg Estates

be obtained on them.

120/7, South

Africa Townshipa S.S. CANONBAR 31, Selestion Trust 60, South M.V. KAFTRISTAN Africa Torbanites 11/6, Canadian S.S. PERIOD Pacific 22, Mexican Eagles 14/0.-Router.)

cent.

Bank of England clearing Rates: Madrid 44.00, Italy 71.25.

the

N.Y STOCK MARKET

New York, Aug, 20.

duo irom UK. 23rd Aug. due from UK. 7th Sept. due from UK. Mid Sept. duo from U.K. End Sept.

London about 20th Sept.

Managing Agents: AUSTRALIA CHINA LINE

due from Sydney 24th Aug. ... due from Melbourne 2nd Sept. due from Sydney 3rd Sept.

Agents: PRINCE LINE LTD. Chinese Freight Agents: CHEONG FAT CO.,

54 Bonham Strand E. Tol: 20087.

Agents: THE WESTERN CANADA

No Surprise The Free Market Rates; India 17.94,

Financial Times Bald 18.06. Australia 125, 125.60, New that the new devaluation in Zealand 124.37, 126, South Africa Chinese currency was not sur 100, 100.50, Teheran 128, 130, prising. For some time the Alexandria 07.875, 97.625, Singa-Chinese authorities have been pore 2/4-1/32, 2/44, Hongkong having considerable difficulty in

-1/10, 1/3-1/16,

Philippines holding the exchange rate. 8,10, 8.16, Rangoon 176-

1/6-16/10, The United States dollar 1/6-1/16, Shanghal unquated.

Special A/C Rates: Lima 20.10. I notes reached CN$2,700 or more 26.10. Lapar 108.82, 170.32. Val- while the official rate was 2,020.

A mild rallying furry in the Price inflation seriously ham-final hour led by rubbers, steels porabo 100.025, 101.800, Turkey

pered China's exports.

Tho 620.

and assorted industriale brighten- devaluation should nasist themed the stock market picturo al-S.B. HASTINGS PARK ....... due from VANCOUVER 27th Avıg.

many leaders but by itself it can never sur-though

failed toss. KITSILANO PARK due from Vancouver/Shanghai 12th Sept. mount the immense difficulties make much progress. arising from China's, unbalan-

said public participa- Brokers 'ced economy.

tion was still slack.

Bids, by professional traders were attributed to the belief that thevival.

is ready for a moder-

Central American A/C Rates: Mexico 19.45, 19.66, Bogota 7.00, 7.06.-Router.

New York Exchanges

ato

STEAMSHIPS LTD.

PENINSULAR & ORIENTAL STEAM

NAVIGATION COMPANY

Bonds Steady Chinese bonds were steady on the stocka miarket to-day, acar- cely affected by the devaluation

Bullish contingents operated of the Chinese dollar.

cautiously while awaiting price The latter was

labeur obviously decontrol and

develop-

Ship Imotivated by pressing internal ments.. New York, Aug, 20.

Numerous

pivotals were un- American A/C Sterling 4.03 considerations and probably not

"ATREUS" 7/16, 4.03-9/16, American

external changed. affect A/C designed to Sterling

Transfers were around 700,000 "SAMDARING" Months 4.03-7/18, bondholders either way. I

Anything which helps China shares. 4.03-9/16, On Sweden 27.81, 27.84,

"SAMETTRICK" France 84, 84, Switzerland (Of

ulti- Closing stack market grūta-

"BENALDER" ficial) 23.40,

mately benefit, Chinese bonds tious:

Adams

ims Express

Alaska "TREVETHOE". 10%, 9.20, Portu- but the exchange devaluation is

Juneau 7%, American Can "GLENIFFER" gal 4.04b, 4.000, Australia 28, obviously only the first of very 100%, American Smelting 01, New Zealand 3.26, South Africa many steps which need taking 4.02% British East Africa

American Telephone 196, Ameri- India 30.33, China 3,320, 3,380s,

before China is herself again.

Tobacco can

03%, American SAMSOARING" The city's faith in Chinese Waterworks 23%, Anaconda

Cop Corporation 80%.

(Free) 23.06, 5. Switzerland towards normalcy, must

Art

couting "he (Official) 20.78, honesty remains undiminished. 45%, Aviation

рег

Ship

From

U.K. KARACHI

Due

End-August

End-August

KARACHI & BOMBAY

End-August

U.K.

Early September

U.K.

October

U.K.

Loads For

October Ready Mid-September :

UE via Straits ACCEPTS CARGO FOR LONDON,

ANTWERP & ROTTERDAM- BOMBAY

(Free) 24.80 offered, 5.36, Belvia (Official) 2.00, It is taken for granted that, Baldwin Locomotive Bolvin (Free) 2.38, Chile (Off! China wants to honour her ex- Barnsdall 23%, Bendix Aviation "SAMNEAGH".

5.10, Chile '(Free)

3.26, ternal obligations as soon as she 46%, Bethlehem Steel 112, Boe- Chile (Export) 4.00, Colombia can, But the internal economic ing Aircraft 20, Borden Co.

62,

Mid-September

60.98. Cuba 100, Ecuader 7.00, and political chaos must firab Canadian Pacliffe 13%, J. I. Caco BRITISH INDIA STEAM NAVIGATION CO., LTD.

Guatemala 100, Holland Maxico 20.60, 20.63,

37.76, be rectified and more currency 47. Chrysler 116%, Colgate 69%, Peru 16.60n.

.bun, devaluation ទ obviously

in-Commercial Solvents 274, Corn 60.00b. Venezuela 20.00, sufficient for that.-Reuter.

Products 69%, Dopont de Nemoura Uruguay Netherland West Indies 63.05,

210%, Electric Light & Power 23%

Datch Guiana 63.35, Montreal on London 4.02. Montreal on New York 07.000, Swiss Bank Notes rate 28.00, 30.00, Belgian Franc 2.23% 2.28} Reuter.

Chinese Cargoes Confiscated

Singapore, Aug. 21. The Overseas Cainesc Impor tera and Exporters Association of Singapore has protested to the Chinese Consul-Generals at Singapore and Bulavin against the alleged confiscation in the Netherlands East Indies of two shipments of sugar owned by Chinese merchants, the Chinese language newspaper "Nan Yang" reported.

LONDON DISCOUNT

RATES

eral

Passengers and Freight to India

General Electric 45 Gen EASTERN & AUSTRALIAN STEAMSHIP CO., LTD.

SHIP

Motors 68%, Goodrich 89, Goodyear 70%, Homestake Min- ing 42. International Harvestor 12 International Paper 60%, In- London, Aug. 20.

ternational Tel & Tol 23%, Johns "NELLORE" Manville 188, Kennecott Copper Day to Day loan per cent, 56. Montgomery Ward 81 Na. "EASTERN" Short Money to 1 per cent,

tional Distillera

30% National Bank Bills, 3 Months 17/82 per cent, Bank Billa, Months 9/16 Lead 37, New York Central 23%, Packard Motore 8. Pan- to, Fine Trade Blis, 3 Months American Airways 18% Pennsyl- 1 to 1, Fine Trade Bills, 6

RR 38, Radio Corporation "NELLORE" Months 1% to 2, Treasury Bills, 1814, Republle Steel 375, Bay. "NELLORE” 2 Bfonths to 17/32, Treasury holds Tobacco 43% Schenley 96%,

vania

Bills, 3 Months to 17/32-Reu- Scare Roebuck 44, Sheil 01 37, ter.

N.Y. COTTON

New York, Aug. 20. Cotton futures jumped almost $6.00 a bale in, the finst hour of trailing but reacted partially.

Mill baying against textile ox- ders, together with short cover ing encountered a scarelty of I offerings.

Futures closed B5 cents to

a bale.higher.

Dec. Oct. 35.80-83, March 36.70, May 85.38-40. July 33.10, Middling 34.88-89, Oct. epot 36.02 nominal-Associated Presa.

The Association charged that the Navy confiscated 1,182 bags of sugar en route from Java to Singapore and intercepted off $3.00 Banka Island, and a abipment of 99 bags of white sugar and 800 Jags of rock sugar seized off Singkep Island. Associated Press,

H.K. CARGO HELD UP

the

the

THE SWEDISH EAST ASIATIC CO., LTD. vessel struck a floating mine in

M.V. "TRAVANCORE” M.V. "NAGARA”:

Outwards

........duo Hongkong and Bopi. ....das Hongkong End Sept.

For further particulars, apply to:- GILMAN & CO., LTD. `(Shipping Dept. Phone 27871).

35.85-89,

Socony Vacuum 17%, Southern

Pacific 68% Standard Brands

40%, Standard Oil of Calif 58%, Standard Oil of N J. 77, Stode baker 31, Union Bag 374. Union Carbide 111, U.8. Rubber 72, U.S. Stoel 90%, Westinghous 30%, Youngstown Sheet & Tube 180%-Associated Press.

2

Super Liners For Pacific

Washington, Aug. 21. The plans of the United States

020-foot superliners for the Paci Maritime Commission to build two Ac Ocean 'service and three 650- foot vessels for The Meditor rapean has been slicuttled for at least a year by the Administra- tion economy programme, announced on Tuesday,

was

CHICAGO GRAINS Chicago Aux, 20. Continued light export demand Bide of $15,495,000 have already Singapore, Aug. 21. Cargo for Hong Kong aboard and short covering against small been approved for each of the 4,000-ton steamer Boncattered offerings provided wore three smaller vessels, but have under Bullgot the only stimulatants for grain boen withdrawn when Lomand, delayed

futures, as pro

brokers awaited price Bureau orders, the announcement Commission wald it decontrol decisions on whether sald. The collings should be roimposed. hoped the programme, might bo Corn closed 13-14 highar: date started in suring of next year 4th lower to 1% higher; barley Associated Press.

- higher-Associated Presh REUTERS U.K. INDEX

the Straits of Malacca in July, will be transhipped from Singa pore.

The vessel has been towed from Penang to Singapore and will be unloaded here as soon ∙as berthing space in the, crowd- ed harbour area in available.and Associated Press,

Alexandria, Ang. 20. Gold: per fine jOUBOS Plaatras/-Reuter,

London, Aug. 20. Industriain 158.9, Kattire 118.7, 108Home Balls 92.7. Commodity 288.7.

Renters

LONDON SILVER & GOLD

London, Aug. 20 Bilver, Spot, per? fine os 558, Silver, Forward per Ono os 55%d,

·Bar, Gold, Fine, oz. 172/4---Beuter.

. SHIP

FROM

AUSTRALIAN

PORTS AUSTRIAN

- PORTS

· LOADS FOR

SHANGHAI

SYDNEY...

For full particulare apply to

DUE

Discharging

Early Sept

READY

*

End August Mid-September

MACKINNON, MACKENZIE & CO.

Telephone No«. 27721-4.

MAERSK

LINE

M.S. "TREIN MAERSK”

Loading for New York, Atlantic Porta vis Los Angelos, Panama 24th August. (No Passages available)

for Particulara please apply to:----

JEBSEN & CO., Agents

Pedder Building, 7th floor." (Bhipping Department Tal, No. 22863)

BEN LINE STEAMERS LIMITED.

BAILINGS TO UK. VIA STRAITS. PREIGHT ONLY,. "EENRINNES" loads for UK.

"BENURUACHAN”

"EMPIRE WITILAZE"

VESSELS DUE

wecond half Sept.

mid. Sept. mid, Sept.

(CHINA), LTD.

*For particulars apply jot W. R. LOXLEY & CO

York Building

Tat, 14188,