1949-10-18 — Page 14

ROYAL

INTEROCEAN

THE CHINA MAIL, TUESDAY, OCTOBER 18, 1949,

FINANCE AND

LINES

U.S. FINANCE "REVIEW

ARRIVALS

JAVA PORTS and MACASSAR

28th Oct.

AERIVALS

**TJITJALENKA”

SAILINGS

.........30th Oct

MANILA

*BOISSEVAIN”

8th Nov.

"STRAAT SOENDA"

30th Nov.

"TEGELBERG".

28th Dec.

23rd Oct. 18th Nov.

"TJIKAMPEK”*

25th Jan.

SAILINGS

8th Dec.

* No passenger accommodation available.

SINGAPORE, PENANG and BELAWAN DELI

"VAN HEUTSZ"

"VAN HELTSZ“

SAILINGS.

ARRIVALS

21st Oct.. ..16th Nov.

13th Nov.

EAST & SOUTH AFRICA & SOUTH AMERICA

"BOISSEVÄIN

-"STRAAT-SOENDA"

"TEGELBERG"

TJIKAMPEK"*

COMMERCE

Raw Cotton

LABOUR CONDITIONS Prices Up

11

AFFECT INDUSTRIES

•

Hong Kong Stock Exchange

New York, October 16. Highly unsettled labour conditions forced new cut- backs in business and industry this week. While there were only a few cases of slower activity due to an actual shortage of steel or cool, it was a case of general belt tightening all along the business front in preparation for anything that might develop from the prolonged labour crisis

Virtually all major barometers feurrent strikes. The effect on The improvement observable of business and finance dipped the overall economy is somewhat tast Friday was maintained yestrife or held about even with like a pebble dupped in a quiet terday. It was fairly general levels established last week, the pool spreading is impulses i all with Electrics, China Lights and first in which full effects of the directions Trams in the forefront.

twin walk-outs in coal and steel could be meas

measured.

B.K. GOVT, LOANS

SAILINGS

ARRIVALS

8th Nov.

30th Nov.

·;--་

28th Dec.

23rd Oct 18th Nov.

** Kry -Lown ̈ITON"-----

Loan (1934 ✯ 1940) 1005,

35th Jan

8th Dec.

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

Dar-Es-Salaam and Zanzibar.

No passenger accommodation available."

JAPAN

4J

ARRIVALS

20th Nov.

SAILINGS

"STRAAT SOENDA"

...3rd Nov.

"TEGELBERG"

29th Nov,

2nd Dec.

TJIKAMPEK”*

10th Dec.

21st Dec.

* No passenger accommodation available.

Agents: HOLLAND—EAST ASIA LINE

EUROPE via MANILA and MALAYA

* "MOLENKERK” "MEERKERK"

SAILINGS

.14th Nov.

Early Dec.

ARRIVALS 19th Oct. Early Nov.

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

Mediterranean and Northern European ports.

"MOLENKERK"

"MEERKERK"

JAPAN

SAILINGS

ARRIVALS

23rd Oct. Early Nov.

13th Nov. Early Dec.

·KING'S BUILDING: TELS: 28015 TO 28017 CHINES AGENTS: 82. Connaught Ro. C. Trus: 31196-25133

LA RAMA LINES

DE LA

ARRIVING FROM US. ATLANTIC COAST VIA LOS ANGELES & SAN FRANCISCO

5.5. "DONA AURORA”

m.v. "DONA' NATI”

....La Port ..Early Nov.

SAILING FOB U.S. ATLANTIC COAST *VIA SAN FRANCISCO & LOS ANGELES

*.3. "DONA AURORA” ..(Calls Japan) mv. "DONA NATT"

(Calls Japan)

.Early Nov, .Late Nov

THE DE LA RAMA STEAMSHIP CO., INC.

(Incorporated in the Philippines)

MARINA HOUSE

Tel. 2367-22875

CHINESE SELFFING OFFICE

Tela. 27733—2015-

AMERICAN PIONEER LINE

to and from

Atlantic Coast Ports of

the United States and Far Eastern Ports

NEW FAST CARGO SHIPS -SPECIAL ANNOUNCEMENT

Following vessels will load ai YOKOHAMA FOR HONGKONG

at Yokohama October 23 to 24 November 10 & 11 Nov. 30 to Dec. 1

5.5 "PIONEER LAKE"

AS "PIONEER SEA”

5.5. "PIONEER COVE"

LOADING HONGKONG FOR AUSTRALIA

5.5. "PIONEER WAVE

will call at

loading Hong Kong October 22, 1949

· Adelaide, Melbourne, Sydney & Port Pirie accepting cargo and passengers

For rates, special information call

UNITED STATES LINES Queen's Bldg." COMPANY Tel, 3125:

Pat

The shore Est inhcutes the principal ports of landing and -dacharpe av prently intended, but not their goistisk., further." Information achilpẫe aế”” the Company's Office.

34% Loan (17491. IND

BANKS

Total industrial production this week was leaner than last week

despite a tiny improvement in

HK. & S. Bank C08, 145, 1318/2, output of steel and coal, Retail

(Len. Heg.) £53n

Chartered Bank £12 1/168. Mercantile Bank A & B. 227. Bank of East Asia 1975,

INSURANCES

Canton In 2103.

Union Ins, 647b, Evük, 630/45mm. China Underwriters 6.

1. Pre in. 2758, 229am.

SHIPPING

Douglass

KK & X. Steamboats Sin Inuu China (Prof.) 29.

(Del) 2000. Shells (Beurer 61/40 Chivo Warbasta saa. Asia Nay, n

DOCKS, WHARVES, GODOWNS, E HK, X. Wharren 1943,

North Point Wharren 31. Shanghai Honskew Wharves 110. EK, Docks 12345. 15. China Providents 11b. Shanghai Dockyard Wheelocks 246,

MINING.

Rath Mines GIGS,

LANDS, BOTELS & ELDGS, HS. Hotel 10tis. 101 2,7,10mm. HK Lands leg Shanghai Lande 2b. Humphreys labi H.K. Rim 2.73b,

Chinese Estates 1496

PUBLIC UTILITIES H.K. Tramwaya 16324, 155/1694. Peak Trams (014) 195,

(New 140.

Star Ferries ib.

C. Lights

-- (d) 11.805, 12.109, 11.30/9/22.

(New) £525, 9%. 9.88/wk.

H.K. Electries 3b, 31, 0/30. Macao Electrics 200. Sandakan Lighus. Telephones 17 by 19%. Shanghai Gas En

INDUSTRIALS

Cald, Macg. (Cm) 25.603.

Cauton Jers a

Coments 18an.

H& Ropes 136.

STORES. Etc. Dairy Farma 39h, dir1za. 3172/19% sa. Watson 42b, 438, 4175/674252. 1. Crawford 26

Sinerre XD, 4.4in.

Chica Emporium in,

Sun Co. Ltd. 2.sto.

Kane Sang Hong 1021.

Wing On A.K.) *20. Wn Powell, Lad, inn.

MISCELLANEOUS.

China Entertainowat 14%.

II. Construction (01) 2366

(New) Za.

Vibro Pilir 120. Varman Investments 9/-8. Maraman (HK) In. Shanghai Lomp 1.SVR Yangtzes 2.80 3.455

Eneas $h.

COTTONS

RUEBER. Et COMPANIES Altex Estates iin, Anglo-Dutch Am.

Anclajara în. Batu Anams Ca

Hute Plantations zn.

Chemor United „fun.

Cheng Rubbers 20

Consolidated Rubbers In.

Dominion Rabbers 1. Longhats in

Renah Rubbers Jan. Rubber Trate in.

Seranza Rubbers (850. Semambo Robbers 45. Shanghai Kedaha 10. Shanghai-Kalaya 120. Shanghai. Súmatres in.

Sezrel Duris 13. Tatah Merahs .com. Tebong Rubbers 10: Zianrbe Rubbers in.

trade sagged badly in areas where a sizeable portion of the popula- tion is either on strike or has

been affected by some phase of the present labour troubles. Pri- mary textile markets were fairly busy, but there were reports of lessened forward buying in most all lines. This type of buying principally to build up depicted

inventories in anticipation of a

structure in

тесет

big Christmas business has been ane of the main props under the business weeks.

And topping it all of wasan unknown amount of damage to business sentiment by fears. justified or not, that the county may be in for a long siege of in- dustrial strike

Wall Street Opinion The staggering loss of millions of dollars a day in wages more than a million strikers, the loss of more than one and one- quarter million tons of steel and more than 10,000,000 tons of saft coal weekly is only part of the

economic consequences

of

Japanese To Buy American Raw Cotton

N

Tokyo, October 18.

Manchester, October 17. The Raw Catfon Commis sion announced today higher selling prices to British mill owners as a result of riscs in British cotton prices at Alex- andria.

The Increases were: Brazil- lan and East African cotton, up one farthing to a half- penny per pound. Egyptian varieties, up by twopence to 2:54. Sudan and West In- dian types, up twopence.--- Associated Pres

AMERICAN SHIPPING POSITION

Even the optimistic New York stock market appeared leas confident that industry would escape any serious set-

Washington, October 16. back. After rising to new Senator Owen Brewster (Re- highs for the year early in the publican) today called activity in week, prices set led down when the Swedish and German ship- operations were resumed after the Columbus Day holiday and sellers held

the upper hand most of the time thereafter.

Retail

trade declines ranged from five to 10 per cent in the South and Mid-west, six to nine on the Pacific Coast and four to eight in the Middle Atlantic and Eastern States.

2

Business failures this

week were the highest in around month.

The cumulatin

cumulative effects of the small cutbacks in major lines of industry showed up clearly in electric power production which fell behind a year ago for the first time since August, 1946.

ping industries "disquieting."

He contended that the United States is "nancing itself out of existence in the commercial ship- ping field and said the US bad rendered obsolete 500 ships of the American merchant marine" by financing in Britain which re- sulted in expansion of that coun try's ship-building industry.

Senator Brewster also charged the United States with fostering a policy of starvation by failing to recognise Franco Spain

Senator Brewster hinted that he had learned that the Spanish Loyalist government in might move soon to regain power.

exile

He asked the U.S. people to "consider well the implication of

our current foreign policy" to-

ward Spain

He claimed that the Spanish in exile took A government US$500,000,000 war chest with it when it left home.

Bank Clearings Lower

Steel production ***

was but shadow of its normal pattem at this time of year but showed a the tiny bit of recovery from

In September. Senator Brew- initial shock of the work stop-ter made a trip to Europe that page in the industry last week.

the

to

The Japanese Government is shortly expected to buy $10 million worth of American raw cotton (about 60,000 bales) from the United States aid counterpart

it was learned yesterday. This purchase is to be made as part of the raw cotton purchases programme, under which the Goy ermanent was authorised by SCAP

10

Freight carloadings continued included

talks

with Gerusal

drop from the lack of coal Francisco Franco in Madrid. movement and a general decline United Press,

in the mass movement of goods.

Government Buying In Pakistan

Automobile production was less affected by steel and coal strikes than the general run of business operations but here too.

there were minor dislocations.

Curtailed business in stores and the general tendency to contract in other fields was reflected in lower bank clearings, demand de- posits and money in circulation The changes were generally small, however, and were partially off set by another rise in business, emment loans by banks, the ninth increase in a row.-Associated Press.

U.S. Honour For Cosmos Co.

to utilise counterpart funds total- ling $81 million for the purchase of about 500,000 bales of Ame

American raw cotton during a one-year peri- od from

Cosmos Acrated July 1919, to Jane 1950.

Water

Karachi, October 16. Jute and cotton in Pakistan will now be purchased by the Gov- and not by private enterprise.

Finance will be provided by the proposed National Bank of Pakistan, which will soon come into existence

The "ordinance which sets up a of semi-official National Bank Pakistan with an anthorised capi. tal of 60,000,000 Rupees, is re- Ceported

The Government, in the mean (HK) Ltd., bottiers of "Cosmos"paration" be in course of pre-

time,

decided to recently

let pri- beverages, has attained another A promoters company, estab- vate cotton dealers bandle the re-honour in the USA. It gained lished eight months ago, has com maining purchase of American wide recognition in the bottling pleted all spade work and the raw cotton as soon as possible. industry field when it was fea-National Bank will start its work រ A official of the International tured in a whole page of the initially with five offices in cot-

Trade and Industry Ministry said "Squirt Reporter," a well-known ton and jute areas. that Japan was able to buy some publication in Beverly Hills, Cali-

The Government's share in the foodstuffs from the non-dollar fornia

Bank: would areas-Reuter,

Money Market

Mr. Hubert G. H. Wong is Pre proposed National sident and General Manager of be 25 per cent.-Associated Press.

company, which has gene through hazardous times since i was founded in Manila in 1918 by the US dollars dropped to HK$6 ate Mr. Wong Ning. father of yesterday but went up again to the two

brothers who $6.03 at the close, the same as the opening rate.

MOLI

operate

NEW BANK POST

Washington, October-16.

of

"Bankz

the branches in Hong Kong and announced the appointment

The International Bank today Manila, respectively.

During Walter Hill of the United King- T was put through from World War II, plant In Manila

dom as special representative in TAKSE.05 TO SELL

smrktakar om The Japanese, Park in charge of Te was uzchanged at and Wong was imprisoned office here.

during the Japanese occupation. Australian pounds were higher He died

The Bank also announced few months

before

closing of its offices in the Hague liberation,

After liberation the and Copenhagen, which have at HK$11.90 a 100 plant was razed to the ground by been supervising the use of loans were

unchanged, as also were fire, and his sons undertook the made to those two countries. Ticals at HK$27 a 100.

reorganisation and rehabilitation Their functions are being trans

7

HK$15.60.

at HK$11.85.

Plastres

a

NEI Guilders were stationary of the present bottling factories. at HK$25.40 a 160.

Japan's Membership Of The ICC

New York, October 16.

THREATENED

the

- Notice To Consignees

ferred to Paris, with Andrew Detctthatchet, now of the Hague,

·METAL. INDUSTRY in charge, and Andre F. Goelo, now of Copenhagen, as assistant succeeds. J. Grant Mr. Fill Cleveland,, October 16. Forbes, who has reached the The metal-working industry is Bank's retirement age. United threatened with creeping paralysis Press, as a result of the

the steel and coal strikes, the magazine Steel says.

While

Comparatively new fabri-1 cators have

operation Mr. Henry J. Heinz, president of the United States thus far for the lack of

S.S. "LOKSANG" Council of International Chamber of Com- an unprecedented contraction of

activities

is, forecast for

From Calcutta· Straits merce, said the matter of Japan's re-admit-month unless the labour disputes tance as a member of the ICC had not been de-

are settled. Steel observes.

arrived: Oct. 13th 1949 The magazine said that by the cided.

end of this monit

consumers Damaged cargo ex this vessel inventuries will begin to evapor-will be surveyed in the pre- ate of become too unbalanced to mises of the Hong Kong & permit economical production in Kowloon Wharf & Godown

many plants-Associated Press.

next]

Notice To Consignees M.V. "AUTOMEDON

Co., Ltd, at 10 am on Tues- day, October 18, 1949. Con- signees are advised to have their Representatives present during the Survey,

AMERICAN. PRESIDENT LINES

The Global Fleet

TO HONOLULU & SAN FRANCISCO

"President Wilson" "General Gordon" "President Cleveland"

via JAPAN

Arr. Nov

..Arr. Nov.

Sails Novi. 5

4. Sails Nov. 5

.........Arr. Nov. 29

Sails Nov. 30

TO SAN FRANCISCO & LOS ANGELES

"President Madison" *President Pierce"

vio JAPAN

Arr. Oct. 26

... Art. Nov. 8.

Sails. Oct. 27 Sails Nov. 9

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

"Marine Snapper"

"President Johnson"

Arr. Oct. 30 Sails Oct. 31

..Arr. Nov. 29 ---Bails Nuv;==84) ROUND THE WORLD

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

"President Polk"

"Mount Davis"

..........ÁIT. Oct. 19 Sails Oct. 20. Arr. Nov.---4---- Salls Nov. 1

TO JAVA & STRAITS

Arr. Oct 23

"President Johnson

Opposite Star Ferry

Sails Oct. 24

TCL 28172/5.

BEN LINE

SHIP "BENNEVIS" *"BENWY VIS”

"BENVENUE" "BENLEDI" "BENLAWERS”

"BENRINNES"

**BENARTY"

"BENVORLICH”

SHIP

““BENVENUE”

"BENLAWERS"

ARRIVALS

FROM Japan

DUE

-Ja Port

U.K. via Singapore

In Port

27th Oct.

31st Oct.

do

19th Nov.

do

21xt Nov.

-do-

28th Nov.

do

10th Dec.

SAILINGS

ΤΟ

London, Antwerp, Rotterdam, Har

J burg & Hull

“BENLEDI" .....: Genoa, Liverpool,

*BENWYVIS” IN

"BENRINNES"

“BENARTY”

Glasgow, Leith &

Dublin Liverpool, Glasgow, Dublin, Havre & Hail Genoa, London' Leith

LOADING 30th Oct. 23rd Nov.

5th Nov.

11th Nov.

&

22nd Nov.

Liverpool, Glasgow, Dublin, Havre, Ant- werp, Rotterdam & Hamburg

20th Dec..

via Malaya, Colombo, Aden, Port Sudan & other way port

• Accepts cargo for Japan

For Further Particulars, Apply To-

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

York Building.

Telephone: 34165

THE EAST ASIATIC CO., LTD.

S.S. "SERAMPORE"

LOADING ABOUT 30th OCTOBER for SAN FRANCISCO, LOS ANGELES PORTLAND, SEATTLE & VANCOUVER

M.S. “KAMBODIA”

LOADING' ABOUT 12th NOVEMBER for

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

il in buik.

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

Tel:34111 & 34113.

KLAVENESS LINE

SAILINGS

Direct to Los Angeles, in 16 days Thence San Francisco, Vancouver, Seattle & Portland. M.S. "FRANCISVILLE”

29th Oc

ÅRRIVALS FROM PACIFIC COAST

It was the opinion of the Unit better integrallon of the Japanese ed States Council that she should trading economy in multilateral be admitted on the same status world trade.” as Germany as an observer only.

Ee said, however, that the Bir. Heinz made the statement: prior to his departure yesterday average American businessman is afternoon for Paris where he will labour would make very difficult concerned that low wage Japanese attend the semi-annual meeting competition in the United States of the International ICC on Tues market. This is particularly true day. He was accompanied by Mr. in the sales of electric light Damage cargo ex this vessel claims for damage or shortage M.S. "BOUGAINVILLE”

are warned that M.S. "CASTLEVILLE” Philip Cortney, member of the bulbs, textiles, bicycles, toys and will be surveyed att Holt's may not be accepted if the executive committee of the Unit novelties ed States Council,

Consignees

Wharf between 10 am. and damage is

:

Mr. Heinz said it was de noon on October 17 and 18, Messrs. Goddard & Douglas in not surveyed by: Mr. Heinz said Japan's ap plication for membership in the

batable whether the fears of 1949, and consigbees are re- the presence of Consignees' American' business ICC had been received - and

men requested tto have their repre- Representatives at this ap. Clearance

Justified. had been obtained

sentatives present during the pointed time." from the State Department.

If the matter of Japanese entry survey. Pointing out that the ICC is into the ICC was brought up at * business

ness body" Mr. He

Mr. Heinz add-the Paris meeting he would en. ed that since trade after the war courage her participalog ay an must bclude: Japan just as be observer but had not decided

BIFFTERFIELD & SWIRE-

Agents.

fore the war, it would be appro-whether the American delegation Hong Kong, October 17, 1949. priate that they should be mem- would bring the question upe bere. It will be the first step in United Press,

JARDINE, MATHESON &

COMPANY LTD. General Managers; Indo China. Steam Navigation

Co. Ltd

21st. Od 21st Nov

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

M.S. "CASTLEVILLE”.

Passenger Accommodation

Chinese Freight, Agents, HOO FOOK PING

King's Building.

22nd Oc

Enik Oll Tanks

Applysa

THE BANK LINE

(CHINA) LTD. Tel 27792 THE BANK LINE (China) LA