1949-09-24 — Page 12

ROYAL

INTEROCEAN =

LINES

JAVA PORTS and MACASSAR

SAILINGS

.1st Oct.

15th Oct..

*TJITJALENGKA”

"TJIBADAK"

MANILA

"STRAAT MALAKKA"

*BOISSEVAIN"

"STRAAT SOENDA"

"TEGELBERG"

SAILINGS

7th-Oct.

. 5th Nov.

30th Nov.

28th Dec.

ABRIVALS

29th Sept 13th Oct.

ARRIVALS

27th Sept. 18th Oct.

18th Nov.

ཝཱ

SINGAPORE, PENANG and BELAWAN DELI

"VAN RIEMSDIJK"

"VAN HELTSZ“

SAILINGS

ARRIVALS

3rd Oct.... 27th Sept. .. 19th Oct.

13th Oct.

EAST & SOUTH AFRICA & SOUTH AMERICA

SAILINGS

ARRIVALS

"STRAAT MALAKKA"

7th Oct.

"BOISSEVAIN”

5th Nov.

"STRAAT SOENDA”

30th Nov.

TEGELBERG”

28th Dec.

27th Sept. 18th Oct. 18th Nov.

Calling at Mombasa & L. Marques direct. Transhipment cargo accepted on through B's/L to

. Dar-Es-Salaam and Zanzibar.

JAPAN

ARRIVALS

SAILINGS

"STRAAT MALAKKA”

5th Oct.

"BOISSEVAIN"

28th Sept

10th Oct.

"STRAAT SOENDA”

20th Oct.

29th Oct.

"TEGELBERG"

20th Nov.

2nd Dec.

Agents: HOLLAND-EAST ASIA LINE

EUROPE via MANILA and MALAYA

"MARIEKERK”

"MOLENKERK”

SAILINGS

3rd Oct.

End Oct.

ARRIVALS

Early Oct.

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

Mediterranean and Northern European ports.

"MARIEKERK”

MOLENKERK”

THE CHINA (MAIL; SATURDAY, SEPTEMBER 24, 1949.

FINANCE AND

COMMERCE

International Fund Chief New York

Describes Devaluation As Peaceful Revolution

Hong Kong Stock Exchange

Washington, September 22. Camille Gutt, managing director of the Interno- tional Fund, today described the devaluation of currencies in the last five days as really a revolution a peaceful revolution.

Mr. Gutt told a press conference, "The fact that these great changes which involve most im-

"

portant national economic interests of so many countries have been carried out by internation-

Stock Exchange

New York, September 23. Railway stocks were in front of a rising market on Thursday. Gains for the rails ranged to m extreme of three points. "Gen- erally the market was up” Irae- tions to a point

Transfers totalled 1,280,000 shares. Demand as stimulatei chances by optimism over the for industrial peace Gainers in- cluded Nickel Plate, Santa Fe,

al agreement within the framework of the loNorthern Pacific, Dougins Airerat,

ternational Monetary Fund is a convincing de- monstration that international co-operation begins now to be a reality.'

The first affect of devaluation of the Pound Sterling stimulated the Market. This, however, petered out and the Market fell sway when it was realised that

Mr. Gutt said devalution would make no differ-

the hope was ence one way or the other to that the action would increase purely local companies. The gains sales by countries to the Western Large registered at the beginning of the Hemisphere, including a week have not been fully main-part to the United States, but be! tained and the tane at the close warned that there was always the is uncertain.

danger that internal prices would now rise and this would dissipate or wipe out the advantage gained by the devaluation.

HE COYT, LOANS Lown 1006.

31 Loan (1994 & 1843) 10Jb. 360 Loan (1988) 189150.

BANKS

H.K. & S. Bank “15208, 150bRA

(kon, Reg. ÆSON, Chartered Bank I.D. £1189. Mercantile Bank A. B. n. Pank of East Aain 1145,

INSURANCES

Canton Is. 315. Union Inn, CoÜD, OTTE. Chins Underwriters Plin. H.K. Fire Ins. 25ơn.

SHIPPING

Docker 200,

B.K. & M. Steamboats H Indo Chinas (Pre)

(Def.) 200m. Shells (Bearer) · 71/10150. Union Waterboats 20. Asia Max. 185a.

DOCKS," WHARVES, GODOWNS, Etc. I& Wharves 105th,

North Point Wharves E.4th, 5.50%. Shanghai Honskew Whzzres 14a. XX. Docka Tím

China Providente 111⁄2n

Shanghai Dockyarda 6ijo, Wheelocka 258,

JAPAN

SAILINGS

ARRIVALS

2nd Oct.

Early Oct.

End Oct.

Ranh Wines #b. H.K. Mine

KING'S BUILDING: TELS: 28015 to 28017 CHINESE AGENTS: 82. CONNAUGHT Ra. C. Tess: 31196-25133

DE LA RAMA LINES

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

Es. "DONA AURORA”

m.v. "DONA NATT"

..15th Oct.

.Early Nov.

SAILING FOR U.S. ÁTLANTIC COAST VITA LOS ANGELES

AS DONA AUROBA” -

Early Nov.

Late Nov

THE DE LA RAMA STEAMSHIP CO., INC.

(Incorporated in the Philippines)

MARINA HOUSE

Telt. 23676-22875

CHINESE SHIPPING OFFICA Tela, 23733-20153

ISBRANDTSEN

isbrandtsen Company Inc.

26-Broadway.

New York 4, NT.

PAR EAST STRAITS • INDIA • PERSIAN GULF • MEDITERRANEAN

UK. & CONTINENT • W, INDIDS-- #. AMERICA

STEAMSHIP DIVISION

FROM

SAILS FOR

£5. "FLYING TRADER"

In Port

Pusan, Japan

San Francisco & New York via Panama Sept. 24

A. P. PATTISON & CO.

GENERAL AGENTS: CHINA, FORMOSA, KOREA, JAPAN &

HONGKONG

12-14, QUEEN'S BOAD CENTRAL,

4th floor. TEL: 25346,

Chinese Agents:-LAM KEE SHIPPING CO. 20 Connaught Road, C. Tel. 24679.

MINING

140. LANDS, BOTELS & BLDES.

HS. Hotels (16,Mm.

EL Lands 4850), 49% Shanghai Lands 1.800.

Humphreys 100.

H.K. RAD 13. Chinese Estates 167a.

PUBLIC UTILITIES

EL, Tramways 166, 26124, 10.30/18an. Prak Trama (0%) 18.

(New) 10

Star Ferris 15043.

C. Lights (Old) (11488, 1190, 11.50. (New) . 8.50. B.CW/1630. EX. Electrica 8th. Bilia, Sen. Mano Electrics 20%. Sandakan Lights $45. Telephones 29

Shanghai Gon En.

INDUSTELALS Cald. Kacy. (Ord) 25.591, Canton fees în. Cements 1931, 19m. HK Rope 20.

STORES, Elc. -Dairy-Faricano, 19

Wamous 42b, cia, fina 1. Crawfords 110. Sincerea 4.8.

Crios Emporium Sa.

Sum Co., Ltd. 270b.

Irons Seer Boot 20

Wing On (K) 130

W Powell, Ltd, 940.

MISCELLANEOL'S

China Entertainments 15a.··

B.K. Constructions (016) LEE.

(New) 22.

"Vibro Pilings 15% 0.

Margman Investments 9/-2. Kaminan (KK) 2 Shanghai Loan 150. Yertizes in,

Ewas 4704.

COTTONS

Money Market

US dollars again took the up grade yesterday. After opening at HK$6.23 the rate clrsbed steadily to $6.28, though at the close it eased off slightly to $6.-7 281.

T was put through fram HK$6.23 to 58.27.

Sterling was maintained at HK$15.40, and Australian pounds.

80.

vere also unchanged at $11

Plastres remained nominal at HK$11,70 a 100,-

Ticals went up to HK$27 a 100 after opening at $26.50 at which it had stood for the past two weeks.

NEI Guilders dropped further to HK$22.50 a 100.

Mr. Gutt said, “The exchange adjustment which is now taking place should provide a basis for a return to the expending level of world trade on a multilateral casis and this is one of the Fund's principal objectives, "Unless the effects of the exchange adjust

the

ment are offset by a rise in local prices and costs or by inappro priate domestic policies followed by

member

governments, the ad- justment should help to restore international payments by expansion of exports on the basis of relative prices and costs rather than by contraction of imports through restrictions and discrimi nations."

Paves Way For Action Mr. Gutt said the devaluation. paved the way for other actions which will be necessary to ful- 141

the these purposes Monetary Fund).

(of

He said the adjustments. were the most extensive realignment

Treasury Makes Useful Profits

London, September 22

British Treasury it- The self is believed in Landen financial

be quarters to among those who have, made

of useful profits out

this week's boom in gold shares. Since the end of 1946 the Bank of England has held blocks of South African gold-

shares for the- producing

Treasury.

The shares were requial- tioned from French owners by the French Government British to the and handed Treasury in part payment of France's deficit with Britain. The British Treasury fixed price limits at which it was prepared to sell the shares, and this week, it was believ ed, some market prices rose above these limits, enabling the Bank of England to un- Icad.

Market reports suggest that its sales this week Included 80,000 Crown Mines and 100,- 000 Spring Mines, · involving almost £500,000-fleuster,

double

of exchange rates ever carried out in a short period of time. More important, they have been achieved with far more interna- United Kingdom is to have ne tional agreement than was the more than the same dollar pro- case with major currency adjust-ceeds as before depreciation To ments of the part

their dollar proceeds, Mr. Gott added, "Unissa un their smiling receipts frem expor dermined by domestic action into dellar countries will have to

countries, the ex-increase

nearly threefold." change adjustment now taking United Press. place should help to avert wome of the dangers cited in our an. nual report"

member

Notice To Consignees

CONSIGNEES PER KARBER- WILHELMSEN LINE

Mr. Gutt continued, “In tha! report

cort we said the world is now tending to divide into high price markets of countries dealing mainly in convertible currencies

MV. "TARN" and low price markets of coun- tries dealing mainly in converti- ble currencies

are hereby notified that their The exchange adjustments

now taking place cargo-is-being discharged into for the Hong Kong & Kowloon „provide 2 -Feat opportunity

higher level Wharf & Godown Co's godown progress toward of world trade, progressive re- where it will be at consignees moval of exchange restrictions risk and subject the Wharfe and "restoration of convertibility, terms and conditions of storage, which are among the principal and where delivery may be abjectives of the Fund.”

#

obtained.

Damaged packages are to be left in the godowns for

ex-

Mr. Gutt edded, "The purpose a devaluation is to increase ex- ports. This calls for leadership by governments and, co-opera amination by Consignees and tion by their citizens to make the Company's surveyors, goods available by restraining Messrs. Goddard & Douglas at home demand and by keeping 10 am. on the 24th September. down expenditures on consump

tion

and investment, including To comply with the General the expenditure of the govern- Bonded Warehouse Regula- ment...

fiers, consignees must have a "But

it is not sufficient to Revenue Officer in attendance make those goods available You! must be able to sell them...It is when damaged dutiable goods

deprecia- important the effects of

"It is for this reason

that

are examined.

Dow Chemical, Texas Company.

Dow Jones Averages.

Stocks 65.00.

20 Industrials 180.83.

15 Rails 47.33. 10 Utilities 3801. Closing quotations: Adams Express 20. Alaska Juneau 3. American Can 9474. American Smelting 47%. American Telephone 142. American Tobacco 73. "American Waterworks 7.

Anaconda Copper 26%. Aviation Corp. 5. Baldwin Locomotive 93%. Bamsdall 493.

Bendix Aviation 294. Bethlehem Steel 28. Boeing Aircraft 19. Bonier Co. 45.

Canadian Pacific 14.

J. I. Case 3714.

Chrysler $2.

Colgate 39%.

*Commercial) Solvents 16.

Corn Products 62%. Du Pont $216. Eastman Kodak 43 General Electric S. General Motors 61. Goodrich 63. Goodyear 3934.

Homestake Mining 44. International Harvesters 26%: International Paper 574. International Tel & Tel 9 Johns Manville 40%

Kennecott Copper:46 - Montgomery Ward 511 National Distillers 20% National Lead 32% New York Central 10 Packard Motors 3% Pan American Airways 844 Pennsylvania PR 14 Radio Corp. 12 Remington Rand 9% Republic Steel 20 Reynolds Tobacco 3914. Schenley 29

Sears Roobuck 41 Shell Oil 36

Socony Vacuum 101⁄2

Southern Preiße 4044

Standard Brands 20%

Standard Un of Caffe &% Standard Oil of N. J, 69 Studebaker 72%

Union Bag

24%

Union Carbide 39%

US Steel 23%

US Lines 14%

Westinghouse 2512

Youngstown Sheet & Tube 55

Gen. Pub. Utilities 15

-Associated Press.

Notice To Consignees

Consignees Per STATES STEAMSHIP

COMPANY

3.5. "WYOMING”

tion in lowering "dollar prices No claims will be admitted are hereby notified" that their should not be offset by a rise in after the goods have left the cargo is being discharged into home costs.

stearner's godowns, arıd all the Hongkong & Kowloon countries that have devalued goods remaining undelivered Wharf & Godown Co's godown cannot now afford to let prices after the 25th September, 1949 where it will be at Consignees of their goods rise in terms of Will be subject to rent.

risk and subject to the What's their own currency. They can -

terms and conditions of storage, and where delivery may be obtained.

:

Au claima

egainst

the

not let the costs rise without steamer must be presented to risking the Joss of their

the Undersigned on or before markets."!

He warned that the advantages the 1st October, 1949 or they of devaluation may not accrue will not be recognised. immediately and the dollar pay- ment problems of some countries during the next few months may even become more acute.

No Fire Insurance will be effected.

Damaged packages are to be left in the godowns for exam- ination by Consignees and the Company's Surveyors, MesstB. Carmichael & Clarke

at 10. am. on September 27.

DODWELL & CO, LTD.

Agents.

He said, "For example, a 43 per cent increase in Sterling ro- ceipts from exports to dollar Hong Kong, Sept. 20, 1949. countries. is necessary if the

Pacific Far Cast Live, Inc.

Fast Regular Trans-Pacific Service.

OVERLAND NEW IORE-CHICAGO-DETROIT-TORO MONTREAL, AND ALL-ASEANCAN & CANADIAN CEPARA

DIRECT

·SAN-PRANCISCO, LOS ANGELES

- Lerivy

· San Francisco

"WEEKLY CHINA MAIL”

CONTAINING ALL THE LOCAL NEWS

OF THE WEEK FROM THE

"CHINA MAIL" & "SUNDAY HERALD"

Price 50 Cents

ON SALE EVERY THURSDAY.

“SURPRISE” "CHINA BEAR" "FLYING DRAGON" 12 ́"CREAT - ELPUBLIC"; † SCALIFORNIA BEAD"

San Prune

San Francisc

San Francisco & Inc. Angden. But Francisco via Takas & Robe Ban Franciscs & Los Angeles. Ban Francisco & Los Anpošės. San Francisco & Los Angeles Via Kobe & Tokihama

AMERICAN, PRESIDENT LINES

The Global Fldet·

TO HONOLULU & SAN FRANCISCO

via JAPAN...

"General Gordan" *Président Cleveland'

.Arr. Sept. 27 ‚'Arr. Oct. 15 Arr. Nov. 2

Sails Sept. 27 Sails Oct. 16. .Sails Nov. 3

"President Wilson"

TO SAN FRANCISCO & LOS ANGELES

"President McKinley" "President Taft”

via JAPAN

Arr. Sept. 24 Arr. Sept. 23

Sails Sept. 25

Sails Sept. 29

TO NEW YORK, BALTIMORE & BOSTON via PACIFIC COAST & PANAMA

"President Grant" "Marine Snapper"

Arr. Oct. 1 Sails Det.

Arr. Nov. 1 Sails Nov.

ROUND THE WORLD

VIA MANILA, SINGAPORE, COLOMBO, KARACHI, SUEZ. PORT SAID, ALEXANDRIA. NAPLES, MARSEILLES, GENOA, NEW YORK and BOSTON

"Willamette Victory”

"President Polk"

2-

Arr. Oct. 1 Sails Oct. Art. Oct 18 Sails Oct. 20...

TO JAVA & STRAITS

"President Johnson

Opposite Star Ferry

Ars. Oct. 21

Sails Oct. 22

Tel 28172/5.

BEN LINE

SHIP

"BENAVON" *“BENWYVIS”

MEENVENUE"

“BENLEDI”

"EENLAWERS” "BENRINNES" *BENARTY”

"BENVORLICH"

SHIP BENAVON" "BENVENUE"" "BENLEDP

"BENLAWERS"

“BENNEVIS" "BENWYVIS”

"BENARTY"

"BENRINNES"

TUR

ARRIVALS

FROM

.UK. via Singapore

SAILINGS

ΤΟ

DUE

5th Oct.

15th Oct..

27th Oct.

31st Oct.

19th Nov

21st Nov.

28th Nov.

10th Dec.

LOADING

London, Antwerp, 8th Oct Rotterdam, Ham- burg & Hull

38th Oct. 5th Nov.

23rd Nov.

Liverpool, Glasgow, 8th Oct.

Dublin, Bavre,

Antwerp, Batter dam & Harburg,

7th Nov.

20th Dec.

Genoa, London, Hull

25th Nov.

& Leith

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

Accepts cargo for Japan.

Omils Hamburg, calls at Genoa.

+ Omits Hamburg, calls at Leith.

"For Further Particulara, Apply To-

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

York Kaiding.

Agents

Telephone: 34165.

THE EAST ASIATIC CO., LTD.

S.S. "NIKOBAR”

LOADING 25th SEPTEMBER for

SAN FRANCISCO, LOS ANGELES, PORTLAND

* SEATTLE & VANCOUVER

M.S. "MORELIA"

LOADING ABOUT 7th OCTOBER

ford

#

ADEN, PORT SAID, ANTWERP, KOTTERDAM, HAMBURG, OSLO, GOTHENBURG & COPENHAGEN Tanks available for the carriage of oil in bulk..

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

Tel: 34111 & 34112

To comply with General KLAVENESS LINE

Bonded Warehouse Regulations Consignees must have, a Re- venue Officer in attendance when damaged dutiable goods are examined.

No claims will be admitted. after the goods have left the steamer's godown, and all goods. remaining undelivered after, September 27, 1949, will be, subject to rent

All claims against the stea- mer must be presented to the Undersigned on or before October 4, 1949, or they will not be recognised.

No fire insurance will be effected.

-DODWELL & CO. LTD.

Agents

Hong Kong, Sept. 22, 1949.

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. “CASTLEVILLE” M.S. “BOUGAINVILLE'

21st Oct.

21st Nov.

Sailing to Singapore, Fort Swettenham, Penang, Belawan & Batavia

M.S. "CASTLEVILLE”.

Passenger Accommodation Chinese Freight Agents, HOO FOOK PING

King's Building Tel 27702,

22nd Oct.

Balk Oil Tanks

Applu

THE BANK LINE

(CHINA) LTD.

THE BANK LINE (Cinna) Ltd,