1946-10-09 — Page 7

THE CHINA MAIL WEDNESDAY, OCTOBER 1946

De La Rama Lines NY. Stock China Should Return

DE

M.V. DONA NATI

"LOADING: FOR:

HONOLULU, LOS ANGELES, CRISTOBAL

& ATLANTIC COAST PORTS

- via MANILA

15th OCTOBER

THE DE LA RAMA STEAMSHIP CO. INC.

Pedder Bullding

TEL: 23676

BUTTERFIELD

Chinese Shipping Offes

Tel. 2378820153

& SWIRE

1 CONNAUGHT ROAD CENTRAL Telephone: 80351-8 Privata Exchange,

Market

New York, Oct.

Steels led a quiet and selective. recovery jaunt on the stock mar- ket although many leaders ware

column;

To Gold Standard

Shanghai, Oct. 8.

unable to emerge from the losing To speed up the financial and economic rehabilita tion of the country, China should return to the gold standard and issue a new currency this Is the opinion of Mr. Huang Yuan-bin, nem- ber of the Planning Committee of the National Government and regarded as an authority on economics and finance.

Mild support arrived after the opening. Initial declines running two or more points were reduced fato advances by or converted midday.

Assorted early gainers backed

near the close and the; down direction remained cloudy

Transfers held under 1,000,000 shares,--

TH

ช front were Bethlehem, Youngstown Sheet, General Motors, Goodyear, and United States Rubber. Stumblers in eluded - Chrysler, Woolworth, Caterpillar Tractor, Anaconda, Dow Chemical. Philip Morris, wa up better than two on mesyre sales and a weak bongtin eicarette prices.

cautious buying was at.

Agents: CHINA NAVIGATION CO, LTD.tributed partly to the belief by

"HANYANG”

"ANHUT" **TSINAN" "FENGTIEN"..

"PAKHOY"

"TSINAN"

"ANHUI"

"KWETYANG”

"NINGHAI" "SHANTUNG

"FATSHAN"

A SAILINGS TO

Amoy & Swatow 7 am. 15th Oct. ..... Swatow & Bangkok 15th Ott. Singapore & Penang 1 p.m. 17th Oct.

"ARRIVALS FROM

''

Alaska

He says that the Chinese masses have lost confi- dence in the present currency because of un- controlled inflation, which has been mainly responsible for the continual increases in-the prices of commodities" and foodstuffs.

London Stock

Exchange

London, Oct. 7.

The behaviour of today's stocks market was distinctly encour ing. As an influence. Wali Stress has been put completely into the background.

and

|

The only way the Government can regain the confidence of the nation in its monetary policy. "Mr.: Huang says, is to scrap its pre sent' currency system and adopt. aew ane based on gold.

ho

He suggested that this should done without waiting for an provenient in the present con- fused political situation. other- wise the financial rehabilitation of the country would he

unduly de- layed.

SINO-RUSSIAN TREATY

Nanking, Oct. 8. Negotiations for a commer cial treaty between Chins...“ and Russia are making bead- yay and the pet prodably south be signed after the Sino-. "American" commercial ' treaty is concluited, diplomatic cir

cira discloser today.

The treaty will be similar in naturtenmÅssociated Press.

Exchanges

In London

London, Oct. '7. soni customers that the list mas

On New York, 4.025, 4.035, Mon treal...

4.02, 4.04, Zurich 17:34, have touched bottom and is due

17.35

Stockholm 14:47, 14,50, for a technical revival. Shanghai 4 p.m. - 13th Oct.

Alres unquoted, Bachos

Brazi The Dow Jones Averages:. 20. Industrials 188.87, 16 Rails

196:4416, BEAT, (saliers) d 10 Utilities 34.38, Stocks The nature of buying indicatel

Uruguay Based On Gold

unquoted, the return of smaller investors to

167.50, Paris & French Empire 08.777

Closing quotations

the market.

Among other things Mr. Huang 479.50, 480.90, Syria $81, 895 Giltedgade spent a quiet day suggests:

Lisbon 90.80, 100-20, Swiss Bank Adains Express.

Indus- A. Saigon 10th Oct.

Junens & American Can 81

1. The new doller should be Notes Middle 17.25, 17.50, Nether- closing without alteration.

met .. Shanghai & Swatow 10th Oct

good demand based on pure gold and its value landa West Indies: 7.53 Nether American Smelting 49, Ameri

of all United | lands East Indies 10.08, 10,70, can Telephone 172. American from the provinces and some ap about one-sixth ... Singapure 14th Oct

Tobacca 77, American

Water preciably gains were recorded States dollar.

Holland 10.03, Panama 4.02, 401, Bangkok, Salgon & Swatow 15th Oct.

with nationalisation Anaconda

issues Copper

2. Circulation of gold and sil-Denmark 19.32, 19.36, Prague 201. Singapore 18th Oct.

works 15%.

breweries prominent. 37. Aviation Corporation

ver coins should be reintroduced. 204 Norway 19.08, 20.02; Pales- Shanghal 17th Oct.

Baldwin Locomotive ion 35 both teas and rubbers also had present currency should be issued

Ols made a good showing and

3. No mor

more banknotes of the tine 99%, 100%,

Forward Rates. One Month:- Bethlehem Steel 96, Boeing

inquiry.

and, following the introduction of United States

D. Canada craft

Borden Co. 47

bond market with the culation Canadian Pacific 13, J. 1.. Casc

Chrysler 85 Colgate 484, Greek resumption Commercial Solvents 224-Corn having a general influence. Products 62%. Dupont de

Nem-

Consols, 4 per cent 1945/75 ours 180, Eastman Kodak 205 97, Conversion Loan, 33 per Electric Light & Power 16h rent 112 War Loan, 87% per General Electric 38% Genera

eneral cent 107, New Motors

15%, Goodrich 32*, Good- per cent 108% Victory Bonds,

Saving 26 54. Homestake year

Mining per cent 119% International.

72% In 1965.65 106-3/16, Saving Harvester

3% 1960.70- 42, Inters national Tel

German Loan,

CANTON RIVER LINE-

Arrives 5.30 p.m. 11th Oct. Sails 11 .. 13th Oct, Arrives 1.30 p.m. 16th Cel Soils dam. 17th Oct.

Agents: BLUE FUNNEL LINE

PROMOETHEUS"

"ANTILOCHUS"

"SINKIANG"

UK SERVICE

Salling

16th Oct:-

dall 24, Bendix Aviation 30 were good

in the the new dollar, the notes in elr-n. D. Switzerland 12 3/{

37

of servicingly withdraw should be gradual- Sweden. 14 p, 1% D. Paris: 40

Bonds B

Bands

cente.

4 cents, ent..

Holland 1 cent,

1754, 18.06. Australia 125, 126.50,

4. No more than $3,000,000,- | 1 000 worth of the new currency Bank of England Clearing should be issued in the first Rates: Madrid 44.00, Italy 71.25. two years, of which $1,800,000,095

Frer

Market Rates: India should be set aside for balancing 5. There should be a gold re-

of the note issue.----

the national budzet.

ternational Pael 175, Johns 3% 1965.75 102 Saving Bonds serve equivalent to 60 per cent 130, Alexandria

For

·Port Said, Liverpool via Strait.

21st Oct.

Arriving

Mid. Oct.

14 Oct.

Mtd. Oct.

From

U.K, via Straits

indo windo

21st Oct.

do

From

New York

For

31

"SAMAFFRIC" "ANTILOCHUS”

NEW YORK SERVICE

"LYCAON"

Arriving

"GLAUCUS”

And week Oct.

“EURYBATES"

Sailing

18th Oct.

Agents:

New York, via Suez.

AUSTRALIAN - ORIENTAL LINE, LTD.

"YOCHOW"

Arriving

3rd Week Oct.

From

Australia

All The Above Subject To Alteration, Without Notice, For Passage and Freight Particulary Apply To The Abouc.

DOUGLAS STEAMSHIP CO., LTD.

8. 8. "Halyang".

Sailing for Swatow, Amoy & Foochow ||

on or about 10th October

Subject to alteration without Notice:

For Particulars of Freight & Passage. Please apply to:—

DOUGLAS LAPRAIK & CO.

General Managers.

P..G O. Building, 5th floor. Tel. 23755. CHINESE SHIPPING DEPT. 20 Connaught Road, Central, Tel 24639

BEN LINE STEAMERS LIMITED.

SAILINGS TO UK VIA STRAITĄ.

"FREIGHT ONLY.

VESSELA DUE

ES: "BENLOMOND!.

BS

RENLOMOND"!"

·B.3.

ENCRUACHAN":

LOADING

ថវ

1

8.10

New Zealand 124.87, 125, South Africa 100, 100.50, Teheran 128, 97.375,97.025; Singapore £/4-1/2, 2/4-, Hong- kong -1/16, 1/3-1/10, Philip. Manylile 123, 1807 Nationalisation Of Gold pines

8:15, Rangoon 45 Montgomery

Ward 6944 Na snese Bonds, 5 per cantay!

Mr. Huang says that this re unquoted. tional Distillers 123, National 20 Canton-Kowloon

1/5-15/16, 1/6-1/16, Shanghai York Lead 29%, New

Centrai 23, Tientsin Pukow Railway, serve should be constantly main- 16%, Packard Motors 6%% per cent 26%, Lung-Taing.

Pan-

Lapaz 168.52, 170.32. Vai country's armed forces which Jameson Away 14%. Pennsyl-Hai Rly, I per cent, 1913 25, tained until the neorganisation of 26.10. 11 A/C Rates: Lima 26.10,

5 per cent, 1913uld go a vants RR 25%, Radio Corpora13) 5015 Crisp Loan, we wing to buraties the budge Central American A/C Rates: way towards Paraiso 100.625, 101.300, Turkey

unquited. tlon 10. Republie Steel 20%, Key-

46,. Hukuang after which the Government in his nolds Tobacco 38, Sc

8. Schnell Oil

-624, & per cent 1911

1911 29, Raliway 6 per cont. Sears Roebuck 38%,

Socony Vacuuma

Cum 14% South

nationalise gold. -Nanking Railway,These Pacific 12 Standards, per cent crn

measures Mr. Huang 28. Mercantile Bank of 40, Standard Oft of

thinks, would

ine confidence Oil of N.. 67%, State India, " 22% Chartered Bank among farmers, who comprise 80 Standard baker 20% Union Bag 27%, of 1. A. & C. 12, R.K. & Shanghai per cent of the Chinese population Union Carbide 94. U.S. Rubber Banking Corporation 88, Lyden and who, because of their lack of 7. US Steel 68%, Westing burg Estates 113/0 South Africa house 254, Youngstown Sheet & Townships. 27/9, Scicction Trust confidence in the present inflated currency, turn all their APATO

Washington, Oct. 8. 43/1, South Africa Torbanites Tube 63-Associated Press.

Rold.

~~Asiatico,——-—Europeans and 11/0, Canadian Pacific 18% Cash inte

They would also help to stabilize Latin Americans all fear an- Mexican Eagles 15/3-Reuter...

the price of commodities and food-other. United States business de- stuffs-Reuter.

pression.

New York Exchanges

Mexico 18,46, 19.65, Bogota 7.00,

Shano5 per cent, Indon should make an eltart to 4.00.-Reuter,

Give Up Hope Of Russia

Cost To Public

The

Washington, Del. 8. The OPA said today it has a

Gen-

Fear Of Another Depression

Wall Street's 1929 crash and the repression in the thirties

dried up American purses 80 that every natic with which the ́· United *** States traded felt the backfire,

The situation could be even

more pronouncod new with Americh the world's biggest buyer and supplier..

This situation and these

New York. Oct. 7.. American A/C Sterling 4.03 4.03, American A/C Sterling

Washington, Oct. 7. Months 4.03% 4.03%, On Sweden

World Fund and Bank officials 27.86 offered, France 84.-$4, Switzerland (Free) 24.50. 24.05, o hopes of Anancial cooperation ready estimate of how much the Switzerland (Official)-24.56.-21.70, are about ready to cast off their

9.20, Portugal 4.04b, 106, with Russia: Barring a great im- recent price increases will cost the Australia 1.23, New Zealand.

d 3.35, provement in political relations, American public. South Africa 4.02%, British Ext American officials privately-pre. A statistical expert for the Africa 20

20.20

30.29, China leted today that chances are vir agency shuffered at reporters fears added meaning to signs 2nd (Oc

en of a forthcoming recession-a tually nil that Russia will enter questions prompted by this year hence noted by come unquoted.

tence in. Reconversion Director Argentine Bolivie 29.78,

(Free) 24.70 the $150(0,099,000 international John Steelman's quarterly report Washington economists.

tom-lending agencies by the Dec. 31 24.74 Brazil 6.45,

last week:

One Government economist "Prices already have cial): 2.00, Bolivia (Free) 2.38, deadline.

5.10, Chile (Free) After that, chances will be sen further in three months stated there are "certain danger Export) 600, Calem- worse, they believe. Russin would act expired, than they did in signals which show sare simi- in the arities to the 1920. postwar 100, Ecuador

have to apply as a new nation previous 38 months. 7.60n.

Guatemala 100 Hailand one which did not sign the Bret-The OPA

recession-Associated Press. statistician said there 37.78 Mexico 20.57, 20.81. Peru ton Woods agreements as Russia have been thousands of increases,

tered. Uruguay 56.08.

LONDON SILVER 58.50, Vencsucin 29.30, Nether did and would have to submit so many it was difficult to estim Inud West Indies 53.05, Dutch newly figured and less favourable ate the total. Guiana 63.36, Montreal on London quotas of contributions to the The agenc

Bank Associated rest of the orien boosts resulted 4.02. Montreal on New York and und

from terms of the new Price Con- 08.000 Swise Bank Notes rate Press.

trol Act Congress passed after the original OPA statute expired June 30-Associated Press.

Chile

29.00,

Franc 31.00, Belgium 227 2284-Reuter

U.S. COTTON

New York, Oct. 7. The cotton futures market closed 76 cunts bale higher to ten cents à bule lower,

Buying was stimulated by trade expectations of the Government cotton crop forecast to-morrow showing a decrease of less than 200,000 bales from the Sept 11 fofetast of 9,171,000 £ales

October 38.78, December 1869, March 38.25-30 May 27.86 37.06 October 33.55 bjd. Middling spot 30.68 nominal.

New Orleans cotton fatures ad- vanced in early trading but hedge

Discharging Kowloon Whart, selling trimmed prices. in later

dealings, the market closing bare

y steady, unchanged to

to-30 cents 2nd half of Oct.higher.

Qet, 98.49, Dec. 38.45-48 bate of Och

sociated Press.

W. R. LOXLEY & CO. (CHINA

LTD.

SWEDISH EAST ASIATIC CO., LTD.

M.V. "NAGARA”

AMY. “BENÄRES

MV. “NAGARA"

Pórt Bikl,

OUTWARD

discharging Hong Kong end October. discharging Hong Kong mid November.

HOMEWARD

loading Hong Kong mid November.

Antwerp Rotterdam, Copenhagen, Gals and

Gothenburg

CO., LTD.

BOMBAY SILVER

| CHICAGO

GRAINS

than

emphasized that

Chicago Oct. 7. Curn led an upturn in graia futures based an strong- demand in the cash markets and fears that box car shortages will zkow the movement of grain, to ter-5.3. "SAMMEX" minals

The visible supply of corn fell 1,366,000 bushels 3,376,000 bushels.

to

Wheat closed

to: 1% higher. January 2.04.

Earlier January 2,04%, the highest price for any wheat fature since January (1942-Agi zociated Press, dry

",,t"

SUGAR DENIAL

Ort: 2. Washington, Production, and Marketing "Ad- ministration today denied reports that 30,000 tons of sugar hail bean allocated to United States hard catdy manufacturers.

explained

The

, administratiop

Cuba insisted on retaining 30.400. tons of sugar for its own confec Honers drinarly for hard candies“, for export to the United Sta Associated Preas.

& GOLD

Bombay, Oct. 15

Rupees Annað 187

148

Buver, Ready

Silver. Forward

Gold Delivery

Gold Forward

Sovereigns

Reuter,

10.3

LONDON

118220221 DISCOUNT RATES

-Der 183 tolas per 100 tolaa $10

por tola

London Bet Ty Day to Day Loan 1⁄4 per cent, Ghert Mond to 1 Bank Billo, 8 Months 17/82, Bank BILL, O tala propthy 4/16 to 17

Bills, 3 Months: 1 to Each Ted Billd & Monthe

| Treasury Bill 2 Mon Ma

17/82, Treasury Bong Morthe York Oct 7 to 17/22 Reuter

Following lowar prite i Laqon mirkst, hers fa now jag per junge, althodgi price remains 3299 to

Under the new settigmant re-

the Stock Exchanes an- day that the fret fört.

& GOLD

London, Oct. 7. Silver Spot,.,per fine oz. a *d, Silver. Forward per fine oz. 56d, Bar Gold. Fine, oz. 172/3, Beu- teri

PRINCE LINE

Due from U.S.A. & Shanghat End, Oct.

JARDINE, MATHESON & CO., LTD. Chinese ght Agents: CHEONG FAT CO.

Telephone 20037,

BURNS, PHILP & CO., LTD.

S.S. "MAROSA"

from Australian Forta

Expected arrival

27th October, 1946. For further particolare apply to

GIBB, LIVINGSTON & CO., LTD.

JARDINE, MATHESON & CO., LTD.

SHIPPING DEPARTMENT

18 Pedder Btrosk

UTALA 30311.

General Managers.

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

S.S. "KUTSANG" „SS "ESANGH

S.S.. "WOSANG"

S.S. "WOSANG"

3.5. EMPIRE FARRAR" S.S. “ESANG""

S.S. EMPIRE WITHAM" 5.S. "EMPIRE FRASER”

S.S. "KUTSANG" S.S. "LOKSANG”

SAILINGS

to Shangbal 8th Oct

to Singapore vin Saigon öll öét. d: to Keelung 17th Oct.

ARRIVALS:

from Straits via Salzon 15th Oct. IN PORT

Kowloon Bay. Buoy, B.4.

(Ben Linn Berth) Kowloon Dock

Cosmo Dock. Kowloon Wan MIN. Buby An11.

Subject to alteration without notice.

All intending Passengers are requested to register their natiça; Ka far as possible in advance of the time at which they wish to lente.

Agonta: GLEN LINE LTD.

S.S. "GLENAFFARIC”

6.S. "SZECHUEN” M.V. DENEIGHSHIRE

S.S. "GLENSTRAE"

Taikoo Sugar Rednery, Cof inences loading for Rotterdam Antwerp, Amsterdam & London 9th Oct.

And, from UK Buoy Ba due from U.--end Oct, Landa for U.K., Rotterdam ““Ant- werp Amsterdamn-November,

Managing Agents: AUSTRALIA CHINA LINE

SS PERIOD“ MY. NEWBROUGH

due from Sydney stid: Det. ....due from Australla →→ carly Nov.

Agents: THE WESTERN CANADA”

STEAMSHIPS LTD.

3.5. "LAKE NIPIGON

due from Vancouver

PENINSULAR & ORIENTAL STEAM NAVIGATION COMPANY

Bbzu

"BENALDER"

"OTRANTO"

"EMPRESS..OF AUSTRALIA” "SAMLAMU!! "TREVETHOE" "GLENIFFER"

TREVAYLOR"

Ship

SAMETTRICK"

Loads For

Strails, Bombay & UK.

20th October

Accepts cargo for LONDON, ANTWERP & ROTTERDAM

Straits & Bombay "SAMLAMU"

End

BRITISH INDIA STEAM NAVIGATION CO., LTD. SHIP

"EINFIELD! "SILVER GUAVA” "PASHA"

SHIP

"EINFIELD"

FROM

Rangoon

(Madras

Caleu de

LOADS FOR

Straits, Madras, Calcutta.

DUE Mid October 12th

End:

EASTERN & TEAMSHIP CO., LTD.

SHIP

"EASTERN"

FOR

Sydney & Melbourne

For full particulars apply to

BEADY

18th October

MACKINNON, MACKENZIE & CO.

Telephone Nos. 27721-4,

AMERICAN PRESIDENT LINES LTD.

Speed

Cargo Ge

SS. PRINCETON VICTORY" "18 Oct. S.S. MARINE LYNX":

TOB

18th Oct. 8an

8.S. MOUNT DAVIS"

End Oct New

Early Nov. New.

via Singap

8.S. MOUNT ROGERS"

For Passage and Freight apply to-- * AMERICAN PRESIDENT LINES LTD.

Tel No. 28172/2ITÉ.

35 Geary's DiE

Tel 28031 & 81178,

P.&O. Bailding.

M.V. "BENTONG“

Balli

10th October

FOR SINGAPORE

For frel ht particulars please apply:

THE HO HONG CO (CHINA) LTD.

Bubject to

TAK CHEONG SHIPPING CO.

"EMPIRE JAMAICA”

Loading 12th Oct

Salling 18th Oct. 6 p.m..

SINGAPORE & PENANG

nt Particulars please suby

...