1949-09-22 — Page 14

ROYAL

INTEROCEAN =

THIS CHINA MAIL, THURSDAY, SEPTEMBER-72, 1949.

FINANCE AND

COMMERCE

LINES CEYLON BREAKS RUPEE

LINK WITH NEW DELHI

JAYA PORTS and MACASSAR

"TITTJALENGKA”

“TJIBADAK”

“TJISADANE”

"STRAAT MALAKKA”

"BOISSEVAIN"

"STRAAT SOENDA”

SAILINGS ARRIVALS

1st Oct.

15th Oct.

MANILA

SINGAPORE, PENANG

SAILINGS

22nd Sept. 7th Oct.

5th Nov.

30th Nov.

29th Sept. 13th Oct.

ARRIVALS

26th Sept.

18th Oct.

and BELAWAN DELI

SAILINGS ARRIVALS

"VAN RIEMSDIJK"

"VAN HEUTSZ"

EAST & SOUTH AFRICA & SOUTH

Hong Kong Stock Exchange

Colombo, September 20,

Mr. Jayawardene, Ceylon's Finance Minister, an-

nounced in Parliament today that the Govern ment had decided to sever the link between the Ceylon rupee and the Indian ruper. The step had been taken to legalise the position following Sterling devaluation and because Ceylon desired to have a free currency.

Mr. Jayawardene announced that the new gold rate for the

A sticky and uncertain Market rupee would be defined under the

H.K. GOVT, LOANS

Lan (3034 1846) 100%, WAG LEAD (1949) 100 Baza.

BANKS

H.K. AS. Rank 158th, 1950/6Jxx.

(Les. Tex.) 4120. Chartered Bank £10

3rd Oct.

19th Oct.

29th Sept. 13th Oct.

499 Loan 15.

51

AMERICA

SAILINGS

: ARRIVALS

"STRAAT MALAKKA” "BOISSEVAIN”

7th Oct. 5th Nov.

30th Nov.

26th Sept 18th Oct.

"STRAAT SOENDA"

* not proceeding beyond South Africa. Calling at Mombasa & L. Marques direct. --Transhipment cargo accepted on through B's/L to

Dar-Es-Salaam and Zanzibar.

"STRAAT MALAKKA"

"BOISSEVAIN"

JAPAN

SAILINGS

ARRIVALS

22nd Sept..

27th Sept.

5th Oct.

9th Oct.

29th Oct.

"STRAAT SOENDA" ......20th Oct..

Agents: HOLLAND—EAST ASIA LINE

EUROPE via MANILA and MALAYA

"MARIEKERK”

*MOLENKERK”

SAILINGS

Ist Oct.

.End Oct.

ARRIVALS

Early Oct.

Transhipment cargo accepted on through B's/L to India,

Mediterranean and Northern European ports.

"MARIEKERK”

"MOLENKERK”

JAPAN

SAILINGS

ARRIVALS

. Early Oct.

30th Sept. End Oct.

KING'S BUILDING: TELS: 28015 to 28017 CHINESE AGENTS: 82. CONNAUGHT RS. C. TELS: 30196-25133

DE

LA RAMA LINES

ARRIVING FROM U.S. ATLANTIC COAST VIA LOS ANGELES & SAN FRANCISCO

5.5. "DONA AURORA"

m.v. "DONA NATI"

.15th Oct. ..Early Nov.

SAILING FOR U.S. ATLANTIC COAST.

VIA LOS ANGELES

5.5. DONA-AURORAZ~

m.v. "DONA NATT

Tr

Krenntile. Hank A. & E. EXO. Fan of East Asia lien.

Canton

INSURANCES

Ina, 315h

Valon Ins. (70b, 6304, 135/2014. China Underwriters $lia.

X Fire Ins, it

SHIFTING

Danclases 20ła.

H.K. & M. Steamboats lla. Indo China (Prof; 89% a

(Del.) C.

Sbek (Bearer) 75-

Uelon Waterboats

Aria War. GA

IULÄÄ, MHARVES, GODOWNS, Etc.

E. & K. Wkarves North Parme Wharks Ben

106 x 105ea

Shanghai Hotskew Wharves 14. H. Ducks 172

China Providents 1156. 12%* Shanghai Dockyards 78. Wheelocks 14.

MINING

Bach Mines 5.trb.

S.K. Mines .01%%%%

LANTIS, HOTELS & BLDGS.

is

H. & S. Rotels 1932,

HK Lands 45b.

Shangha Landı 215

Humphreys 10%

H.K. Realties X.D. 1.98m.

Chinese Faber İdin.

PUBLIC UTILITIES

H. Tramways (6300, 1672/%s

Peak Troms (Old) JER.

· New) 101.

Star Ferries 1835.

C. Lights (Old) 12.8%, 11,50,6-70mm.

(New) Nirb, 4.10%, Reixa H.K. Einetrics 193, 19 Matao Electrics 203:32, Sectshan Lirkta St.

Telephones a Shanghai Gas

INDUSTRIALS Cald. Mac. (Ord) *.En. Canton Ices. Th Cement 19 20 HK. Ropes 196/

STORES, EL. Dairy Farm 4034*

E. Crawfords 171. Simecres 4.2Gb, China Emperium Fa. Sun Co. Ltd, 2001,

Wine On (KK) 750. WE Powell, Ltd. 250.

MISCELLANEOUS

China Entertainments 13. I Constructions (Old) 2500.

(New) 20

Vibro Piling

Marsman Investments 1/-2. Marman (HK) 20.

Shanghai Lowa 1891. Yangtze 8.

COTTONS

Early Nove Late Nov.

"En 4.20 456

THE DE LA RAMA STEAMSHIP CO., INC.

(Incorporated in the Philippines)

MARINA HOUSE

Tels. 2367622675

CHINESE SHIPPING OFFICE Tels. 23738—20133

ISBRANDTSEN

Isbrandtsen Company Inc.

26 Broadway.

New York 4, NY.

FAR EAST STRAITS INDIA

PERSIAN GULP • MEDITERRANEAN

UE & CONTINENT ́• W. INDIES S. AMERICA

STEAMSHIP DIVISION

FROM

SAILS FOR

6.5. “FLYING TRADER"

In Port

Pusan, Japan San Francisco & New York via. Panzma Sept. 23.

A. P. PATTISON & CO.

GENERAL AGENTS: CHINA, FORMOSĄ, KOREA, JAPAN & HONGKONG

12-14, QUEEN'S ROAD CENTRAL, 4th floor. TEL: 25340. Chinese Agents:-LAM KEE SHIPPING CO. 20 Connaught Road, C. Tel. 24639,

“WEEKLY CHINA MAIL”

CONTAINING ALL THE LOCAL NEWS

OF THE WEEK FROM THE

“CHINA MAIL” & “SUNDAY HERALD"

Price 50 Cents

ON SALE EVERY THURSDAY.

RUBBER, Exc, COMPANIES Alma Exiles 140. Anglo-Datch 3. Anglo-Javas n. Batu Arams (On. Ente l'antations Chore Laited.. Chena Rubbers 208, Consolidated Rabbers in. Dominion Habbers In. Renah Rubbers 201 Rubber Trusts Ma Samazags Bubber Ban Semamba Rubbers. Shanghai Kedaks Ik Shanghai-Malaya 120. Shanhai Sumatras in. Sateci Durh 13. Tanah Merahs Con Teben Rubbers Ain.

Ziangbe Rubbers 12.

:

Money Market

new regulations at 2.83 grains.

Minister was introducing Bill to amend

a

The

Ordinance

which the Ceylon

the currency

No. 23 of 1941,

by

rupee 1*33

linked to the Indian rupee.

Earlier, Parliament had agreed

that the 1

N.Y. Stock Exchange

New York, September 21. Relentless selling. hit the stock market one of the worst blows of the year on Tuesday. Key issues fell as much as three points. The market value of all listed stocks drop- ped US$1,000,000,000.

The general price level re- cated to the lowest point of the the month. Coal and steel labour troubles, and international furr ency devaluation were blamed.

showing.

any

of

Rootes To Unly the gold stocks as a group Open India Factory

20 the motion moved by the Lender of the House

New Delhi, September 20. amending Bill should be rushed Informed sources kay that the through all its stages.

Rootes Group of British motor Mr. Jayawardene said that it manufacturers will establish a was not the place in the Ceylon jedlapany in India to assemble and Parliament to discuss the merits ultimatly manufacture cars and or demerits of the British Gov- trucks. cmment's action Sterling.

-·

in devaluing The sources say the majority stock will be held by Indian nationals, with Indiane among the directors. British technicians are. to be replaced when Indians have ben trained.

The fact was that Ceylon was aced with Sterling devaluation and all its consequences.

Uncertainty Over India

"We did not know what in dia wis going to do and we wanted to devalue the Ceylan

rupee on

The factory is to assemble, and later manufacture 3.000, units annually for use in India.

The

the same terms a source added. that there will be

the Pound Sterling," he added. no restriction on the number of *Under the Currency

Orcars expertable. dinance the Ceylon Government

The factory may start com-

had no right to fix the value of plete manufacture of cars in from Meanwhile, its rupee but we did not know fire to seven years.

Rootes will Indian Government manufacturers in producing com. co-operate with other

ponent-parts.

Until India tightened its in-

the what proposed to co,

"We therefore decided im- mediately to define the Ceylon rupee in terms of gold and this port policy, 25,000 cars and 15,000 was done by the Board of Cur-trucks were imported annually. General Motors and Ford, which rency Commissioners ca Septem-assemble in New Delhi, are re- ber 19 at

at 2.88 grains.

ported to have told the Govern "The effect of this was that wement that they do not believe the broke with the Indian rupee." market justifies manufactoring in

Mr. Jayawardene continued.

will

"It was only later that' We learned that India, had also de valued. The present Bill legalise the position.”

Inconsistent With

'Free Country

India-Associated Press.

TEXTILE MARKËT

New York September 21. The cotton textile market was Mr. Jayawardene declared that the Ceylon Government, had in steady on Tuesday. Prints for tended at any rate to break with the rest of the year were scarce, the Indian rupee when it intro- Small sales were reported for the Broadcloths duced a Bill in the near future first of next

year. bank were in good demand. to established a reserve The Government" "thought

Woollens were quiet with-mer- the present time

chants appraising the effects of was good opportunity to sover the con- devaluation of foreign currencies nection with the Indian rupee on woollens. Rayons held steady, immediately, as "one never knows Yarn producers expect increased what, India will do tomorrow competition from Britain

other yarn producing nations as of devaluation.-Asso-

he said.

that

India had devalued withouls result consulting Ceylon and It was siated Press.

possible that she might fix an-

other rate also without com.

and

sulding the Ceylon Government CHICAGO GRAINS

Mr. Jayawardene continued

"To be attached to the currency

value of another country and be

devalued automatically is not!

淼

consistent with our status as free country but our action is

Chicago, September 21.

Wheat Grain prices sagged closed unchanged to 2% lower.

September. $2.08%-: Decem-

higher to low- Corn Was er. September $1.264-.

Oats were to 1% lower. September 65%-66. Soybeans

consistent with our desire for a ber$2.11%; March $2.10%; free currency, the value of which Bay $2.933-14 July 31.84%. can be decided

accordance with the best -interests of our people.

Replying to certain critics, he said that Ceylon had not been forced to fix a par rate of is, 61. to the Pound by the British Gov- ernment which had done nothing beyond informing them of its own decision to devalue-Reuter.

Notice To Consignees CONSIGNEES PER BARBER- WILHELMSEN LINE

M.V. "TARN"

2

to were -13% lower.

November $2.25--Associated

Press

Notice To Consignees

Consignees Pri

STATES STEAMSHIP COMPANY

33. "WYOMING"

are hereby notified that their

are hereby notified that their cargo is being discharged into

Several golds hit new peaks in carly trading but then fell back- ward. Benguet Consolidated Min- Benguet ing dropped to M. was the third most active issue en the board. Selling arver got cut of control, but the retreat W***

steady

AMERICAN- PRESIDENT LINES

The Global Fleet

TO HONOLULU & SAN FRANCISCO.

"General Gordon"

via JAPAN

Art. Sept. 27

.. Sails Sept. 27.

*President Cleveland"

Ar. Oct. 15

"President Wilson"

Salls Oct. 16 Salls Nov. 3

Art. Nay. 2

N TO SAN FRANCISCO & LOS ANGELES

"President McKinley” "President Taft?

via JAPAN

.Arr. Sept: 23 Art. Oct. 3

Sails Sept. 24

Sails Oc. 4

TO: NEW YORK, BALTIMORE & BOSTON Yią PACIFIC COAST & PANAMA

"President Grant"

"Marine Snapper"

Arr. Oct. 4 Sails, Oct. Arr. Nov. 1. Sails Nov. ROUND THE WORLD

5 *

-VIA MANILA, SINGAPORE, COLOMBO, KARACHI. SUEZ, PORT, SAID, ALEXANDRIA, NAPLES, MARSEILLES,

GENOA, NEW YORK and BOSTON--

"President Jefferson." "Willamette Victory"

In Port..

Arr. Oct.

1

Sails Sept. 22 Sails Oct

2

TO JAVA

& STRAITS

Stocks

15

"Marine Snapper"

Opposite Star Ferry

Att. Sept. 22

Salls Sept. 23 Tel.28172/5.

Of 1,112 issues traded, 882 de- clined, $6 advanced and 1,350,000 shares

were sold. Dow Jones Averages:

63.61

20 Industrials' 178.04 a 45.93 10 Utilities 37.43.

Cloking quotations: Adams Express

Alaska Juncau American

Can

195%

94

American Stel

en Smelting 464

American Telephone 142 American Tobacco 72 American Waterworks T Anaconda Copper 26% Aviation Corp. 54 Baldwin Locomotive 9% Barnsdall 49

Bendix Aviation 28 Bethlehem Steel 26% Boe Co. 45%

Aircraft 18%

Berden

Canadian Pacific 13%

J. I. Case

Chrysler 2014 Colgate 38

Commercial Solvents 15 Cars Products 62% Da Pont 50% Eastman Kodak 424 General Electric 30% General Motors 60%. Goodrich 62

Goodyear

334

Homestake Mining 444 International Harvester 26 International Paper 54%

Tel & Tel 8% terville 39%

Johns

Kennecott Copper -4534 Montgomery Ward

und 521

tionalistillers 20

Lend 32910

New York Central 10 дет

-Packard Motors 3%

Pan American Airways & Pennsylvania RR 1412 Radio Corp. 114 Remington Rand 9 Republic Steel 1914 Shell Oil 3514 Sorony Vacuum 164 Scar Roebuck 4 41

Schenley 28

Reynolds Tobacco 38%

thern Pacific 39

Southern

Standard Brands 204

Standard Oil of Calif. 664

Standard On of N. J. 63

Studebaker Union

US

Union

21%

21

38

Rubber 2234 Carbine US Steel +2720 *2234 US Lines 14k

Westinghouse 24

Youngstown Sheet & Tube 531⁄44

Gen. Pub Utilities 14-

Associated Press.

NY SUGAR

New York, September 21. Domestic sugar No. 6 was un- changed to one higher with sales of 42 contracts.

November 5.50; January 5.41 bid: March and May 5.22.

World sugar was 12 to 13 low- er with sales of 14 contracts.

March and -May 201--Asso- clated Press,

Notice To Consignees M/V "REINHOLT”

Having arrived Hong Kong

Demand strengthened yesterday for S. dollars as the rate gained cargo is being discharged into the Hongkong & Kowloon consignees of cargo are hereby Acarly 20 points between morning the Hong Kong & Kowloon Wharf & Godown Co's godown notified that all goods have Wharf & Godown Co's godown where it will be at Consignees been landed and placed at their and afternoon

Open at BE46.11% there was where it will be at consignees risk and subject to the Wharf's risk and expense into the go- little demand Entil after the risk and subject to the Wharf's terms and conditions of storage, downs of the Hong Kong and luncheon interval, when it touched terms and conditions of storage, and where delivery may be Kowloon Wharf and Godown $6.20. At closing time there were and where delivery may be obtained.

Co., Ltd. where, delivery may buyers at $6.27

be obtained as soon as the goods are landed..

TVT was put through from HK $6.034 to 86.27.

in

Rumours of possible increase

the world

price for industrials, up 15 points

obtained

No claims will be admitted

Damaged packages are to be Damaged packages are to be left in the godowns for exam- left in the godowns for ex-ination by Consignees and the emination by Consignees and Company's Surveyors, Messrs after the goods have left the as compared with the previous the Company's surveyors, Carmichael & Clarke at 10 godowns or failure to attend days closing quotation 10. on the 24th September

Messrs. Goddard & Douglas atain on September 27,

the survey. notes climbed to $15

To comply with General!

eral pr after two days of a To comply with the General Bonded Warehouse Regulations aged goods are to be left in the All broken, chafed and dam- certainly following devaluation.

Australian pounds were station-Bonded Warehouse Regula Consignees must-have a Re- nry at HK$11.

tions, consignees must have a venue Officer in attendance godown where they will be Prastres were again nominal Revenue Oficer in attendance when damaged dutiable goods Examined in the presence of Messrs. Goddard and Douglas at HK$12 à 100.

when damaged dutiable goods are examined. Ticals at HK$26.50 a 100 were

on the 23/9/49 at 10 am. are examined. unchanged.

NEI Guilders headed downwards after opening at HK$24.50 1,100, and closed at $24

No claims will be admitted No claims will be admitted after the goods have left the To comply with the General after the goods have left the steamer's godown, and all goods Bonded Warehouse Regula- steamer's godowns, and all remaining "undelivered after tions, consignees must have a goods remaining undelivered September 27, 1943, will be Revenue Officer in attendance. after the 25th September, 1949 subject to

when examining damaged duti Tent. will be subject to rent. All clafras against the stea- the vessel must be presented to able goods. All claims against New York, September 21.

All claims against the mer must be presented to the the Undersigned within four- Cotton was irregular, closing steamer must be presented to Undersigned on or before teen days of the ship's arrival, 20 higher to five lower. The the Undersigned on or before October 4, 1949, or they will or they will not be recognised. American Cotton Shippers Asso, the 1st October 1949 or they not be recognised. ciation said Japan wants 12,000 will not be recognised.

ANY COTTON

bates of United States cotton, but

the call for offers may be post, No Fire Insurance will be poned for a few day's because of effected

the unsettled condition of Anan

cial markets

October 29.79- December 29.56-

67; March 29,51) May-29.55; 185-

DODWELL & CO., LTD.

Agents

28.99; Midding spot 30.78 ndma Hong Kong, Sept. 20, 1949,

Associated Pres

BEN LINE

SHIP "BENAVON”

*"BENWYVIS”

“BENVENUE”

"BENLEDI”.

"EENLAWERS”

"BENRINNES"

*"BENARTY”

"BENYORLICH”

SHOP

ÎBENAVON"

"BENVENUE” """BENLEDITM*

"BENLAWERS”

"BENNEVIS"

"BENWYVIS”.

“BENARTY" "BENRINNES"

++

ARRIVALS

FROM

DUE

UK. via Singapore

6th Oct.

15th Oct.

27th Oct.

31st Oct

19th Nov,

21st Nov.

28th Nov,

10th Dec.

SAILINGS

TO

London, Antwerp,

LOADING 11th Oct.

30th Oct

Rotterdam, Hamh Nov. burg & Hull

23rd Nov.

Liverpool, Glasgow, 8th Oct. Dublin, Havre, Antwerp, Rotter dam & Hamburg.

Genoa, London, Hall & Leith ....

7th Nov.

20th Dec.

25th Nov.

via Malaya, Colombo, Aden, Port Sudan & other way ports.

* Accepts cargo for Japani.

Omits Hamburg, calls at Genoa.

Omits Hamburg, calls at Leith

For Further Particulars, Apply Zo-

W. R. LOXLEY & CO. (CHINA) LTD.

York Building.

Agents

Telephone: 34165.

THE EAST ASIATIC CO., LTD.

S.S. "NIKOBAR"

.

LOADING ABOUT 25th SEPTEMBER for

SAN FRANCISCO, LOS ANGELES, PORTLAND SEATTLE & VANCOUVER

M.S. “MORELIA”

LOADING ABOUT 7th OCTOBER

·for

ABEN, PORT SAID, ANTWERP; ROTTERDAM, HAMBURG, OSLO, GOTHENBURG & COPENHAGEN Tanks avaliable for the carriage of all in bulk

"THE EAST ASIATIC CO., LTD. Queen's Bldg, 2nd floor.

Tel 34111 & 34112

KLAVENESS LINE

SAILINGS

Direct to Los Angeles, in 16 days Thence San Francisco, Vancouver, Seattle & Portland M.S. “SUNNYVILLE” · Loading 29th Sept. ARRIVALS FROM PACIFIC COAST

M.S. "FRANCISVILLE" M.S, "CASTLEVILLE”

22nd Sept. 21st Oct.

23rd Sept.

Balk Oil Tanks

Sailing to Singapore, Port Swettenham, Fendig, Belawan & Batavia

M.S. "FRANCISVILLE”

No fre insurance will be ef

No fire insurance will be tected. effected

DODWELL & CO., LTD. Agents Hong Kong, Sept. 22, 1949.

WALLEM & CO.

Agents, Telephone 34177-8;

Hong Kong, Sept 20, 1949,

Passenger Accommodation Chinese Freight Agents. HOO FOOK PING

King's BuildLi

THE BANK LINE.

(CHINA) LTD. CHAME, LINE. (China),I^d,