1948-01-29 — Page 10

ROYAL INTEROCEAN LINES

Incorporated in the Netherlands as

KONINKLIJKE JÄVA-CHINA PAKETVAART LIJNEN N.V.,

Amsterdam

King's Building. Connaught Road,

Tel: Shipping Dept. 28016. Passage Dept. 28017. ainene Agents, Connaught Road, C. No. 82, Tel. 25188.

CHINA and JAPAN LINES

"TJIBESAR”

DUE FROM Japan

2nd Feb,

"Tjitjalengka”

Java poris

15th Feb.

SAILING FOR

Batavia, Semarang,

Soerabaya

& MacassaT

3rd Feb.

Batavia. Semarang,

Sammation, Maenssar 17th Feb.

ORIENT-JAVA-AFRICA LINE

SOUTH-ATLANTIC LINE

TEGELBERG

Due from

In Port

Bailing for Shanghai

5th Feb.

Loading for Molla, Singapore. ` Mauritius.

Lourenco

Marques, Beira. Durban. East London. Port Elizabeth, Mosselbay, Capetown, Buenos Aires, Monte- vidro. Santos. Rio de Janeiro. 12th Feb.

Saling 14th Feb.

Transhipment cargo on through bill of inding sccepted for

Dar-Es-Salaam. Mombasa & Zanzibar.

'STRAAT

SOENDA"

RUYS

South America,

South Africa

1st Feb.

South America

South Africa 31st Jan.

Shanghai, Yokohama 2nd Feb.

South Africa South America 5th March

DELI-STRAITS-CHINA LINE

Due from

"HEINRICHJESSEN" Belawan Dell

Agents

Fenang &

Singapore

2nd Feb,

Suiling for

Swatow & Amoy

Sailing for Singapore-Penang

Belawan Bell 13th Feb.

HOLLAND-EAST ASIA LINE

LEOPOLDSKERK" Due from

Japan & Shanghai,

8th Feb.

Loading for

Manila/Singapore/ Colombo/Suez/ Fort Sald/

Alexandria,

Genoa /Marseilles/ Antwerp/Rotterdam/ Amsterdam/Hamburg/

Copenhagen/

filthenburg/Oslo 8th & 9th Feb.

MOLENKERK" Shanghat & Japan Manila/Singapore/

'ZERKERK”

nu or about

24th Feb.

Europe,

Mid Feb.

Agents: SILVER

HENDONHALL" Due from

Colombo/Suez/

Port Said/ Alexandria

Genoa /Marseilles / Antwerp /Rotterdam/ Amsterdam/Hamburg/ Copenhagen/

Gothenburg/Oslo

on or about

21th Feb,

Mania/Singapore

Colombo/Suex/

Port Sald/

Alexandria / Genon/Marseilles /

Antwerp/Rotterdam/

Amsterdam /lamburg/ Copenhagen / Gothenburg/Oslo early March,

LINE LTD.

Sailing for

U.S. Atlantic ports, D.S. Atlantic Coast on or about 9th March, Poris via

Singapore and Sues,

DE LA RAMA LINES

Loads

EXPRESS CARGO LINER SERVICES

T AND FROM PACIFIC & ATLANTIC COASTS

Pacific Coast

Atlantic Livast

Los Angeles

From

Atlantic Coast

Los Angeles

atlantic Coast

via

Los Angeles

U.S.A. LOADING DATES

Date

THE CHINA MAIL. THURSDAY, JANUARY 29, 1948,

AMERICA AND THE FRANC Might Hurt British Commonwealth

London Stock Exchange

London, Jan. 27.

Prospects Ahead For Pound

New York, Jan. 27.

American financla, and commercial interests to- day generally welcomed the franc devaluation, although some feared the action might hurt Britain and her Dominions.

The Chanedion of the Exchequers Opinions varied among unofficial experts as to

-

Sterling overnight

that devaluation W.LY neither necessary sor dekicable, eorbed yesterday's en tarias ic buying of Kathir shares an today encouraged some profittsking an! n{si vyfr

vome hear covering.

marking Consequently, there was dosen of prices in this section but as the session progressed, with currency talk remaining as the tople ul Interest, price levele improved, lost were regained and in some cases ne gaien o

on the day were recorded. Gilledgest stucks benefittest from Chancellor's statement and improve ments of half a point were fairly this Referal, Consols. 2 armount better at 795, while Traps port 3 robe a quarter to 96%.

There was not a great deal of in although terrat among industrials

eltered gains were recorded, parti- among rabaccos, with British- Cuan

1/16 higher at 6%, OL also met

met with selective Inquiry, Butanding being

being Shell new sharen with a time of 1/1 to

*5/3.

were

Today has been the last of the pre- seal account, this has been one reason for a jaking off in the volume of busincey but soie quarters are look- ing for an expansion tomorrow. AECURITIES,

794

Brith Commula, 1145/75 Conversion L, 34, 1981. 106% Fanding Low, 190R/DO

Wer Loan,

Courtaulda, ord.

whether sterling would have to be revalued.

The "Wall Street Journal" ng erted that actuni devaluutio: had already taken place.

"All the French Government Ed was recognize it.., the deti- franc tious value put on the had strangled French trade both at home and abroad...

"The British, who have ob pected strenuously to France's lang, know they cannot long maintain the fictitious value of sterling in the free market... the prospect of a free money market in France upsets Sir Stafford Cripps, not because it would affect the real value of the pound, but because it would make it doubly difficult for Bri. tain to maintain the arbitrary value placed upon it."

One New York banker dia counted the fears of unfavour- able consequences on currency relations throughout the ster ling area. He said that if France succeeded as planned in drawing back to France and out of hiding within France any substantial part of gold dollar and other foreign exchange as- sels long believed to have been flight from France, this in bia would hasten rather than delay

currency stabilization through out Europe.

כא

Logical But

MR. ECCLES DEMOTED

Washington, Jan. 27. President Truman

today demoted Mr. Marrine Eccles from the chairmanship of the

Board of the Federal Reservo Bank (United States fiscal agent) to the Vice-Chairmanship.

Mr. Eccles, who has been at varlance with the Secre- tary of the Treasury, Mr. Jolin Snyder, on credit policy, was replaced by Mr. Thomas Bayard McCabe, who was only appointed to the Beard yesterday. Reu-

ter.

N.Y. Stock

Market

New York, Jan. 23. Stocks generally sat up and nibbled the with at recovery on Tuesday overall market average, for the first time in nine straight sessions, posting

modest advance. Another source agreed that

Further

short covering and other this was logical, but feared the having of calls and industrials by Parla action would require sev-paufessionals was based mainly eral months to regain these as the idea the list was avresold and sels and expressed fear of the due for a good technical comeback. consequences to sterling in the meantime.

Transfer totalled 110,000 shares.

Hong Kong Stock Exchange

The whape was a BB resttalust com pared with. To niny wod petts gunstnikert- amed of. At the can, however, sommavi was fairly well an tunne,

11.8. GOYZ, LOANS

457 Loan 1945 m.

Lens 100n.

NANKS

I.K. 8. Rank 2040b. 2010.

(Lon. Reg.) £1801. Chartere lank £11 7/100. Mercantlie k. A. li. £22n. Bank of East Aalm 125h.

INSURANCES

Canton Ina, 375b. Union Inn. 782%b. 78308. * China Underwriters 6% b. H.K. Fire Ins. Both,

SHIPPING

Nouzle 2005.

I.K. & M. Steamboats 160. Indo Chinns (Pref) 100n. Indo Chinas Def.) 300. Bhella (Teater) 88/20,

U. Waterbente (011) 47ýb, (822. U. Waterbomba (New) 44h, klus. DOCKS, WHARES, GODOWNS, ETC.

H.K. A K. Wharves 10ld) 1008.

L

H., Dock

(New) (F. Pay 14to. (New) [P. „J')

26. Nõup. China Providente 20, 2451⁄2/2dom. S'hai Dockyarda 2tb, 27%, 20%an.

MINING

Raub Mines 54b.

K. Mince 62566, 0.

LANDS, HOTELS ♣ BLOGS.

B. S. Botels 245, 24«, 24%as. II.K. Land (Old) *1#, #14AM.

R.K. Lands (New) ka.

Khai Lande da, Gau.

Xumphry Estates 20%. H.K. Realties 18.

Chineer Existem 18ßr2.

PUBLIC UTILITIES B.K. Tramwaya 21h, tús, 243%an. Peak Tram (id) 17. Peak Trus (New) On. Btar Ferri 183b, 18Gen.

Yaumet Ferries 3714b.

C. Lights (Old) 25% b. 21%, 2lsa.

Lights (New) 15.

IER. Electries (Old) 5(b, 8¢1⁄4•, $1/

11/Am.

HI.K. Electrica (New) 51b, 324, 62

on

,

Mara Electrics 28.

Dow Jones Average: Stock 62.00, 20 Industrial 171.42. 10 1 50.42, trusler 32.30.

11:

War Loan, 247. 1991

1034

102

Victory Bonde, 4%

114

INNUP ̃RIALS:

Portland Cement Co.

TI

D.AT. Co., and.

Delush Celanese, unit.

25/9

Carrera Ltd., "A". ord.

04

J. A. Conta, urd

07/19%

AUTH

Diller

Ca, ord.

NO/

Dunlope, ord,

17/0

LCL, ord.

50/20

imperial Tubaren Co.

1-6/18

Lever Bron

80/44

Vickers Ltd., ord.

RAVI 14

MINKS:

Hurma CarTY.

Grown Ming

4%

Nundydrons Minen

12/6

Rand Minn

G-1/2B

Spring Mines

10/4

Roli-NS1e

Tavoy T

4-9/17 ZAT

Union Buneration

7-

civis

t.

01 SBARTS:

sta

1

l defender.

3

T5 am 4 C

1

Merlina begle

15,14%

Trinidad Lowards the

129

Royal Dutch

HEA

The "New York World T KARI" financial editar. Rad Hender, ho. predicted:

freebetomper 24%. Avalo

kemonette 14, Mundell 334, Bendix

Actorbeer

Berkochene Steel 334,

Cevonlah Pen 21 2.1 C

125. "Bri-Throulér 15, Cente

Commercial

Linz den 4.

42.

Bell Transpart

Vanéturinn o

4.3/10 127/6

CILTRAGEN1

Conversion Loan 1 1918/53

(exdiv)

Funding Loan, 3

101

National War Bondo 2145%:

1049/1

101

1952/64

1987/88

Auglaston

Allock Di

tatem

Cloning 1%. Alaska June 4,

Express Atların

American Can

Perhaps because United States economic problems have been thus far less acute than most others. American Aberlen S 615, American Telephone 1994, Antirah Tolmero 01. 74. Anacondu Corp. 5. Urldwi

יו

Being Ame

al Paper 48. International Tel. à Tel ·

trin's economy will be affected Solvent 22%, Corn Products 41. Dupont 17. Fainiau Kulak 401 Electric General Electric adversely if she does not follow Liph & Power 16, France's lead. But there is no 31, General Motors 53%, Goodrich 02, all Western Goodyear 42%. Homentake Mining 395. good reason why CDJL

Europe should be held back International Harvester NHTS, Internation- merely because she ands it een venient to retain the artificial value of her currency.

"Even one prospercus natior in Europe should give renewed hope to the people in that part of the world."

100-$15 100-11/10

K06

201

100

National War fonde, 3051/83.. 100-10/20 Being Poende, 85%, IDE5/46 .. 101 Bavings Bonda, 14, 1980/70.. Aaving Tonds, 3.5, 1366/13 Exchequer Bonde, 1060

... Redemption Steek, art, 1948/96 2 POREIGN BONUS: German Lesnar (7drome) 7!..........

Attacking Symptoms

11%. John Manelli 14. Kennent Copper 4%. Montromery Ward 50%. Natural Distiller 19, National Len 30%, New York Central 14%, Packard Pennsylvania RX 17. Real Blk 25%. Itcpubile Bleed 24%, Fay.

Motora 4. Pan Aerican Airways 995. Radiu Corp. li.

nalde Tobares 29. Behenley 20%. Bear Roebuck 98%. Shell Oil 324. Босадт Varnom 14. Southern Tarife 41. Standard Brunds 25. Standard 0 of Calit. 6, Stodesker T. Dulon Dox # UA. Rubber

The "New York Sun** in an 30. Un Car

cd forini said: "The United at, that Bull taty, tha. Lines 19%.

States and Britain have yet t: Westhrone 20. Youarstown Sheet & pem to grips with the real The

Gen, Pab, rütive

malady of inflated money, but Astoriated Pres

bith are busy attacking the

symptoms...it would indeed be

dangerous if frane devaluation

and an open market for quote Bank Of France

334

Logrono e ata, BALAN

30

Marhurine Stly., 1938

KR

BANKS:

Cheronet Dek

Hong Kong & Shanglisi

1.7/16 120%

Mercante lank

MINING BAUER,

Congalidated Gol@elife

70/0

Cunselinted Tin

3/0

New Uulan

W/7W

Orange Free Trai

40/734

West Rand

4B/142

Vessel

Free States Dev.

11/8

m.v. "DEMLAND"

Conn Main Stort

13/14 IN-

Wet Drifontiers

302/8

m.v, "MINDORO"

Lydenbur Ealaten

12/0

Bouth African Township

25/6

Relection Trusts

08/11/2

Terbuntien

Welkom!

(Ự 60/44

2-10/02

"Too not be

Mid. Feb.

Mld. Feb.

ARRIVALS

traco

30th Jan. 10th Feb.

SAILINGS

Dato

1st Feb.

21st Feb.

Vessel

13. “DONA AURONA” BLY. "DONA NATI"

Vesel

. "DONA AURORA" 1.v. "DONA NATT"

BOOKING AGENTS for P.A.L.

THE DE LA RAMA STEAMSHIP CO., INC.

MARINA HOUSE

Tol. 28676--22075

CHINESE SHIPPING OFFICE

Tels. 28788—20153"

CHINA MERCHANTS S.N. CO.

15 Connaught Road West.

SAILINGS

Shanghai, Jan. 27th, Singapore Jan. 30th,

S.S. HAI HSIA

S.S. HAI CHIAU

Rooterand

Tobneed Becurities Grosviti Mini -Ruler.

New York, Jan. 28. The ceiling price on Stralis and English refined in (99.75 parent minimum) in Canada will advance to 96 tents delivered in Montreal and Toronto in wholesale quantities, affor❘ tive: January 21, vald the Amfricin Melk Marker. The old price, f.to cantà has been in effect 10′ modlki, Aociated Prew,

New York, Jad. dt. The name of the Standard Oil Company of New Jersey bat bees changed to the Emo Standard, oft CompanyAsociated Press Kőv

tion of other currencies should precipitate a wave of currency depreciation over the world. A large body of opinion in Britain!

is apprehensive of just that, for the British pound clearly is over-

Communique

Sandakan Lights 10.

Telephones (Old) 201ýk, 400m.

Telephones (New) Bla.

Shanghai C b

INDUSTRIALS

Cald. Macz. (Ord.) 201, Centum

Ires In.

Cementa (014) 514, 87, 38/861⁄4em. Cements (New) Abe.

H.K. Hopes 2015, 215, 21mm.

STORES A.

Dairy Farms (X. B) BG, GR. Dairy Farm Bluhta 402, 424, 40%/0/0

Watw Com. All 17%, 70%

Lane Crawfurde 53b, Air 8.40m.

China Emonelum 1.800. Sun Co., Ltd. n.

Kwong Bang Hons 2001. Wing On (H.K.) 15. Wm, Powell, Ltd. 321⁄2n.

MISCELLANEOUS

China Entertainments 50nt.

H.K. Constractions 10ld) (n. R.K. Constructions (New) Bo. Vibro Piling 17.

Maruman invetznente 1 tu Marian, (..) 1.401. COTTONS Ewon 17b, 17%/%/%40.

Money Market

Gold fell back to $333.50 # tack yesterday after a day of heetle ups and downs. The sudden reversal of trend follow. ed the scntching of rumours of any devaluation of Sterling.

The marker had opened a

five $339 which In less than minutes climbed to $342. Heavy Belling then Hert the price After toppling down to $384. the tiffin interval it continued to Paris, Jan. 27, The Bank of France issued slide till it reached $331,75, from valued at the present rate....... this evening the following com- which point it rallied to close

at $339,50. much sympathy need munique:

Plastres had an equally hectic wasted on embarrass- As from January 26, 1948, ment among officials of the the Bank of France buys gold day. Opening at $10.10 a 100 International Fund. When the from the public at the following the rate dropped to $9.95; but strong bullish influence sent the late Lord Keynes suggested prices:

Bulion: Per kilogramme of price spurting to $10.95.

close it the pooling all national currencies in one fund, to be managed by fine gold 237,400 franca.

amall group of men, he was

$10.77.

Chinese National Currency under the delusion that gold was an anachronism in the new

opened at 82% cts for futures and 85 cls for spot, and closed field of monetary technique.

at 82% cts and 86% cts respec tively (for CN810.000).

}

United States $20 piece: 7,100 francs.

United States $10 ploce 3.550 francs.

"Common people of lesser A 20 franc plocs of Fao 1914 mentalities do not think so. The Latin Union:-1,808 trance. Fund must take a loss and per- A 10 franc ploce of Pan 1914 haps many more losses, which Latin Union:-684 francs,"

A

PRESIDENT LINER

* SAILING

REFRIGERATION—SPECIAL CARGO OIL TANKA.

CARGOCAIRE-SPECIE

TO SAN FRANCISCO

SA "General Melga" (via Shanghal, Yokohama &

Honolulu) Feb. 14 #

98 "General Gordon" (via Manila & Honoluta)........ Mar. 6 58 "President Clevelania" (vía mausta & Honolulu) Mar. ∙12 $8 "General Meles" (via Daulla)

April

TO SAN FRANCISCO AND LOS ANGELES S5 "President Madison" (5. F. Direct)

68 "President Grant" (via Shanghai & Yokohama)

BS "President Taft" (8. F. Direct)

S.8. "President Pierce" (S. F. Direct)

Feb. 11

... Feb. 22

Fob.

25

Mar, 10

TO NEW YORK AND HAVANA VIA MANILA.

SINGAPORE, COLOMBO, COCHIN, BOMBAY,

SUEZ AND MEDITERRANEAN PORTS

SS "President Polk"

85 "Mount Davis"

58. "Mount Rogers"

SS "Furman Victory"

SS "Marine Leopard"

Bt. George's Bldg.

Jan.

30

Feb. 10

Feb. 21 Mar.

Mar,

8

AMERICAN PRESIDENT LINES, LTD.

Tel. No. 28172/28175 +

American Pioneer Line

Arrivals from New York. Boston, Other Atlantic Ports via Panama

B. "STAGHOUND"

8.8. "AMERICAN MERCHANT"

Sailings to Manila

8.8. "STAGHOUND" BR. "AMERICAN MERCHANT"

Due Feb.

19

Feb. 2

Salls, Feb.

Feb, 20

Sallings to New York, Boston, Philadelphia Baltimore & Other Atlantic Ports via

Panama Canal Special Cargo Oil Tanks-

6.7.

"GOLDEN WEST"

Due Feb. 12

Salls Feb. 1

For Full Particulars Cali

UNITED STATES LINES CO.

General Agents

814, Queen's Buliding.

Tel. 81251 (3 Unes)

The SWEDISH EAST ASIATIC Co.,Ltd.

"

M.V. "NAGARA Loading Hong Kong 22nd February

for

ADEN, PORT SAID, GENOA, MARSEILLES, ANTWERP, ROTTERDAM (AMSTERDAM), COPENHAGEN, OSLO

and GOTHENBURG

Tanks available suitable for the carriage of oil in Bulk.

For further particulars apply to:--

GILMAN & CO., LTD.

Agents, Telephone 81146.

KLAVENESS LINE

SAILINGS

Direct to LOS ANGELES, SAN FRANCISCO PORTLAND, VANCOUVER & SEATTLE,

SAILING 6th FE m.e. "CASTLEVILLE"

ARRIVALS FROM PACIFIC COAST m.s. STIRLINGVILLE”

easter

A1 at

ms. "BOUGAINVILLE

Ticals firmed up again to $28.60 a 100, as also NEI

will mostly be chargeable to the British sovereign:-4,720 Guilders to $30.70 a 100.

-U.S. dollara, following the United States which supplies francs, most of the Fund's seal assets.— A. British half-sovereign:trend of gold, cased off to $5.09.

United Press.

868 francs--Reuter,

Pacific For East Live, live.

Fast Regular Trans-Pacific Service

OVERLAND

NEW YORK.CHICAGO.DETROIT-TORONTO, MONTREAL AND ALL AMERICAN & CANADIAN CITIES.

DIRECT SAN FRANCISCO TOS ANČELES'

Telephone 31639,

VERAKL

Arrivin

Froma

Salls

For

Feb.

San Francisco Via Manllà

Feb.

*

San Francisco

も

Fod. ID

via Bhanghai

San Francisco vis Kobe

Feb. 13

Feb, 15

Fab. 14

San Francisco

via Shatishal

via Kobe

Feb. 18

vii. Maulia'

IGERATION

Cargo for Ting-Two, Hankow ★ Tientsia acceptabia

on through hills of lading......

FOR- FULL" PARTICULARS PLEARE APPLY TO THE ABUTE.

LR "TRADE VERND" 24. "PHILIPPINE. BEAR”

#LUKUMBOURG VICTORI" Oba 08. "SKA BERFENT"

DRY CARGO

San Francisco

TANKS

CARGO ! OIL TANKS

un-

Sterling appreciated, to $12.77 Australian pounds were changed 'at $12.51.

SILVER & GOLD MARKETS

Бас

London-Sifres. Spot, per aunce 45d; Forward, 44-d

Bar Gold, per Ane ounce 173/1. New York-Ulver, Bar (asked price) 74-ct.

Bar, Golf, per fine gunce (official)

Bombay Silver, Ready, por 100 toles 170 Kupecs, 12 A; New 163, 03; Geld, delivered, per tola 104, 12: Barereign 69, 00,

One Tola is equal to 1/8ths of mó

ounce.

Bonos hire-Sovereign, buyers Eagles. 69.20, pellam 71.00: U.8.

127.006, 129.494) Gold, Bar, Grainme. 6.70b, 6.95.

Brogkoks-Gald Bar, per kah- weight of 15.344 Grammen 3is dents. Stanacor Baten (Qalling).

DUE 17th FE DUE 23rd FE

PASSENGER ACCOMMODATION. BULK OIL TANKS

Chinese Freight Agents.

HOO FOOK PING

THE BANK LINE (China) Ltd

Apply:

THE BANK LINE (CHINA) LTD. King's Building. Tel. 877

THE EAST ASIATIC CO., LTD.

OF COPENHAGEN

M.V. “MALACCA

loading about 8th February

for

ADEN, PORT SAID, ANTWERP, BOTTERDAN

OSLO, GOTHENBURG AND COPENHAGEN

C

Tanks avaliabin for the Carriage of Oli, in Bull K

The_East_ASIATIC C CO., LTD.

24133.2»SALTE