1950-07-12 — Page 14

R.I.L.

ROYAL

INTEROCEAN

SINGAPORE, JAVA

PORTS and

-MACASSAR

"TJITJALENGKA"

"VAN HEUTBZ" *

"TABMAN"

ARRIVALS

In Part

LINES

п

SAILINGE

20th July

14th July 25th July

25th July

29th July

* only to Singapore, Penang & Def. Dell

• MANILA, EAST &

SOUTH AFRICA &

SOUTH AMERICA

"RUVG"

"BOISSEVAIN"

"TJIDADAK"

JAPAN

"TJIKAMPEK"

"RUYS"

"BOISSEVAIN"

THE CHINA MAIL,

FAY, FURY

FINANCE AND

COMMERCE

EGYPT AWAITING DROP | New York

IN WORLD OIL PRICE

H.K. Stock Exchange

A slightly better sentiment provalled in the latter part of the day's trading and there was quiet demand for popular Indus- trials. Hotels proved an excep-

lost tlou, however, and ground, closing with sellers at $7.10. The undertone was stendy.

H.K. Govt, Loans

ARRIVALS

SAILINGS

In Port

12th Aug. 27th Aug.

6th Aug. 5th Sept

ARRIVALS

In Port 3rd Aug.

13th July

15th July

4 Lens Dfb.

3rd Sept

15th Aug.

SAILINGS

Agents: HOLLAND-EAST ASIA LINE

EUROPE vio MANILA

and MALAYA

"LANGLEESCOT"

"MARIEKERK"

ARRIVALS

SAILINGS

12th July

In Port

"MELISKERK"

carly Aug.

early Aug. carly Sept

Through B1/L Istund

to

Mediterranean and Northero

European ports,

JAPAN

"MARIEKERK”

"MELISKERK"

early Aug.

early Sept.

14th July

early Aug.

MÆLKING'SŤ BUILDINGJETELERTONESE ÉMISZTUSPRRITES E

SCHINENUSTALONI SE IZLOUNNAMÜHTERBABECZN|182119,723113 2

TOTA

ISTHMIAN LINE

(Isthmian Steamship Company Now Yerk)

DIRECT MONTHLY SAILINGS TO NEW YORK

VIA LOS ANGELES AND PANAMA "AKTION" "GREENHAVEN TRAILS"

.24th July

2nd Sept.

SAILINGS TO SAIGON, BANGKOK &

DJAKARTA (BATAVIA)

"STELL ROVER"

*STEEL ADMIRAL"

ARRIVALS FROM U.S.A.

“STEEL ROVER"

STEEL ADMIRAL”

.28th July .20th Aug.

Sails N. Y. Sails S.F. Due II.K. Salled Salled 27th July 11th July 29th July 19th Aug. ̧.

GILMAN & CO., LTD.

Tel: 31146

Chinese Freight Agents:- HIN FAT & CO., LTD.

--Tels: 28823,-25553 & 23483.

SWEDISH EAST ASIA CO.,LTD.

ARRIVALS FROM EUROPE

MY. "SUMATRA"

.14th July

.18th July

IV. "DUKAT”

B.V. "MINDORO"

.28th July

SAILINGS TO EUROPE

my. "SUMATRA”

m.y. "MINDORO"

FOR

.30th July

.Mld Aug.

ADEN, PORT SAID, ALEXANDRIA, GENOA, MARSEILLES, ANTWERP, ROTTERDAM, BREMEN, HAMBURG,

COPENHAGEN, OSLO & GOTHENBURG Deeplanks available for Bulkeil

GILMAN & CO.,

Tel. 71148

% Love (1134 & 1940) Malin

Loan (1048) 962, D,

Banks

H... Bank 1220.

+

(Lon. Reg.) £7836 Chartered Bank 40 1/18

Mercantile Bank A. ♣ B. $22lin. Bank of Edit Asla 101b.

Insurances

Cantor 110, 2256. Unlon Itu. 611b.

Chlua Underweilere in. H.K. Fire Jus. 100b.

Shipping

Tuglase ID.

...Steambosta 21a. Indo Chitis (Prof.) 10.100.

(Def.) 6.

Shelia (Urarer) - #3/114m. Unipes Waterboats 18,

Asin Nav. 60b, 65.

sonit

Docks, Wharves, Godowns, Etc.

., & K. Wharves T.

North Point Wharven Sm.

1

Bhasha Itongkow Whirvm fn.

China Providenta 9.300.

R.K. Bocks 10% n.

Shanghai Dockyarda 2.704.

Wheelocks 3.

Mining

Taub Mines 4.300.

H.K. Min■ .01ļām.

Lands, Hotels & Buildings

if. & 3. Hotels 1.10%, fok.

HK, Lands 381.

Shankhal Lunds 1.050. Humphrey Ert.

H.K. Renes 1,908, 2,10%. Chinese Estaten 12an,

Public Utilities 1.K, Tramway 1019, 10.800. Peak Trams (01) 150,

(New) 80.

Star Ferries 680.

C. Lights (013) 9.065, 9.307.2008,

(New) 0.6%, 035am K.K, Electrica 216, 21am. Aseso Electrics 11350. (Now 10%.

(Bunús Bh.)' 10%. Bandakan Lights Blin. Telephones, Ema.) 3034.

(R.) zob. haushal Gas 1.

Industrials

Cold. Mac. (Drd.) =¦¤. Canton Jers u Cemente 4,70b. 1.K. Kopen 180.

Stores, Etc. Dairy Farms lätt.

(Nie) 8)ás. Watson 16. 1. Crawforda 200.

interes in.

China Emporium - in. Sin Co., L, 1.70. Kmont Sank Hung của Wing On (.K.) Ben. Wm. Powell, Ltd. in.

MiscellanaGLiS

- Chilea• Entertalatnents“ 1455.**

Hi

Constructions (Did)

(New) 1,301.

Vibro Tiling 11. Marsman Incealmenta 9/-a. Mareman (KK) SUM. Bhanghai Lot

Youngtota Al

Ewus 11.

700.

Cottons

Rubber, etc Companies

Alma Ett

Anglo-Dutch :300.

Anglo-Java 15n..

Batu Anemi

Duta Plantadona 500,

Cin,

Chenier United 455. Cheng Rubbers 1216h. Consolidated Rubbers 11⁄2D Dominion Itubber. In. Java-Consolidateda Kuta Dahror .80. Kroewoek Juras 16h. Langkats 15. Padang Rubbers 106. Repah Rubbers 12. Rubber Trasts 3.200. Somugega Rubbers · 150. Semambu Rabbera „802. Shanghai Kedaha 434. Shatha-Mainys 10. Shanghai Pabang 40h, Shangbet Bumatras in. Bun 10, Sungel Daris 173yží. Tunalı Metabs 48h. Tebong Rabbers 11%. Wangbe Rubbers Bio.

BUSINESS. DONE

(* Direct Buzalzamon)

Unlop Ine, &·m) $669.

Wheelock 100 at $11.

Cairo, July 11,

Conviction that the predominant position of the United States in the world oil picture, will be overthrown in the near future, and with it the prevailing world price structure for potroleum, has caused the Egyptian GovemTM mont to refuse to accept to date proposals of oil companies for a petroleum products agree- mont based on so-called world price.

consumers.

Stock Exchange

New York, July 10. Stocks alloped lower today, A morning decline was checked by a ponderous rally, but at the close small losses predominated. In the early declino radio tele- vision issues broke as much a US$5 nuharo. Sugar showed independent strength,

The issue that has been and Socony are expected to use raised is whether petroleum principally their Iraq "sterling

One million alno hundred and thell" to meet their commitments in throughout

were tracted—the world are not being held to derationed Britain, it is a question sixty shares

month. Or ransom under a price struc-how much effect the now agree largest figure this

meniz between British and 1,002 issues traded, 530 declined,

the ture based on the high cost of oil companies is going to have on 343. advanced, More than 100

for American Aramco and Issues hit new lows the States.

Wonkness In

half

year.

television op.

production of oil in the United merican Kuwait company.

In felds which are freely coin- An things sinnd now, it scams tently is based on the possible

petitive, the murket, with

open men in the Near Eastern fold that : price competition, would have to the presence of dollars in invest- radio drastically curtall production be ment continues to

of

פנון

rearmament on industry. Zenith Radlo blight pro- closed down 4 at 47 cause of the impossibility of over-duction. Above all it is not be- Philco of 2 at 37 T, Motorola,

the coming

great advantages llaved here the situation can con-1 at 37 %, Admrini, 2 1⁄2 at under which crude is produced in tinue indefinitely in which world 24__. the Near East.

prices remain American oriented

Daw

Jones Averages: Stocks The belief of Egyptians, who are

with United

United States Gulf Coast 30-73.14; 20 Industrials 208.10; 15 hesitating to make any agreement degree gravity base price around Rails 52.03: 10 Uunities 40.22. based the prevalling fashion of $2.67 a barrel and the price at the Closing lock quotatioria: computing world prices primarily Persian Gulf believed to average, Adams Express

American Gulf between $1.37 and $1.87, Oll men Alaska Juneau relation to Coast prices, is that the pricing here, for example, boligve Near American Telephone

Tobacco structure is wholly out of line Eastern fuel oil he delivered.

Waterworks with low Near East production at New York at only two-thirds of costs. Reports

Anaconda Copper in the all industry; the United States price.

Aviation Corp.

in the Near East are that new basing points for prices are bound

to emerge for the Eastern Hemi- aphere and that it probably will; be the at the Mediterranean.

prico end of the Suez Canal and at Mediterranean outlets of new major pipelines.

To stabilise prices The contention is that the world price system, based on the neecs. sily to prevent price wars stabilise prices in an industry iri- valving immense investments and heavy risks, can be expected to lost but that the present world

In a

pricing system,

scase

cap

Peking's finance

measures

Hem Steel

J. I. Cusc

Du Pont

PRESIDENT

The Global, Fitn

TO HONOLULU & SAN FRANCISCO via JAPAN

"President Cleveland"......Arr. July 14 "General GordonTM "President Wilson”.

Arr. Aug. 1 Arr. Aug. 3

TO SAN FRANCISCO & LOS

"President Madian" "President Piores"

vio JAPAN

...Arr. July 13 Arr. July 28

Salls July 15 Sails Aug, 2 Solls Aug. ANGELES

Salls July 14 Salls July 29

TO NEW YORK, BALTIMORE & BOSTON vio PACIFIC COAST & PANAMA "Willamette Victory" ...Arr. July 19 "Dartmouth Victory" ... Arr. July 29

ROUND THE WORLD

Sails July 20 Salls July 30

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

"Bresident Jolinson” "President Monroe"

Arr. July 21 Y. Arr. Aug. A

Bulls July 22

Salls Aug.

Arr. July 25 ..Arr. Aug. 18

Salls July 20 Salla Aug. 19

TO JAVA & STRAITS

"Mount Davis" "President Fillmore"

St. George's Bldg.

Tel 28172/5.

21%

BENT LINE

ARRIVALS

FROM

QUE

204

1504

04

30%

Baldwin Locomotive

10

Bendix Aviation

4584

Boong Aircraft Borden Co.

37%

29

49

Canadian Pacific

15%

38

Chrysler

6034

Colgnic

405

Commercial Solvents

16

Corn Products

84

SHIP "BENAVON"

U.K. via Bingapore

13th July

735%

BENVRACKIE”

on or abt,

27th July

29th July

434

"BENVENUE"

44%

"BENDORAN"

8th Aug.

08

"BENLAWERS"

14th Aug.

40%

"BENATTOW**

27th Aug.

H

3734

GENALBANACH"

20th Aug.

30%

"BENCRUACHAN”

12th Sept.

SAILINGS

Tel & Tel

10%

$8,14

50%

"DENAYON"

16th July

2136

"BENVRACKIE"

"BENLAWERS"

London, Antwerp, Rotterdam, Hamburg & Hull

31st July

17th Aug

"BENGRUACHAN”

58th Bept.

"BENDORAN"

Genos, La Havre & Liverpool,

13th Aug.

10%

"BENVENUE"

01st July

"BENATTOW"

81st Aug.

San Francisco, July 10. and

Communist China is avoid-Eastman Kodak ing inflation and yet finding General Electric enough money to carry out Goodrich financial pro- Goodyear the State's

gramme, Peking Radio said International Harvester tonight.

Paper

ase too closely related to of an essentially no longer corn petitive producer such as the United States therefore may erumble at any time. Egypt, sitting right next to the big Near East low cost producing fields, would then and herself perhaps obligat-| ed to pay the no longer accurate "world price based an an but- dated standard.

Homeslake Mining

#

#

It reported that the Feople's Bank of China has been calling Johns Manville in Communist dollars through a Kennecott Copper nationwide network of publie Montgomery Ward treasuries and has in this way National Dailllers been able to concentrate on the

Lead provision of money for realising New York Central the Stato's financial plan without Packard Motors having to resort to the printing Pan American Airways

Pennsylvania DR press,

Radio Con

Corp. Remington Rand

Measures taken to protect a no

A longer competitive part of the By this method the Bank has Americas all industry from Near contributed towards stabilisation Eastern competition is showing of the nation's financial position, Repubile Steel Increasingly drastic effects in the the Radio alded.

Reynolds Tobacco Persian Gulf oil old region. The It reported that 1,867 public Sears Roebuck Near Eastern oil boom is continu-treasuries have been established Shell Oil ing steadily

Iran and Iraq throughout

during Socony Vacuum the country where investment is primarily in the past three months. Thero Southern Pacific sterling.

have been more cheque than cash Standard Brands On the contrary, Kuwait, in transactions between enterprises,

Oil of Calif. which investment Is half Amerl- and this sparing use of actual

Oll of N. J. can and in which heavy American money has enabled the Bank to Union Carbide expenditures have recently been increase loans to industries. Pri- US Rubber made, and in the wholly Aniori-vately-owned industries as well

can. Aramco fields of Saudi Ara-

M

Steri

bia, producilon is far below what hunts have been helped is" Lines

thi

had been expected at this time. Kuwait, production has been eut back from 400,000 barrels to 300,000,

Only three plus are working in 2 which is one of the richest in the world and an extremely low cast producer. Kuwalt Of Company, which made plans for building pipelines to the Mediter ranean Coast, has abandoned the Iden "until some distant future date.

Employment cut

Westinghouse

From the end of February to Youngstown Sheet & Tube the end of May total dapusits Gen, Fub. Utilities with the Bank rose four times.

0534

2034

33

$134

10

10%

Foreign dollar bonds droppe During the samo period loans and to more than five points nude by the Bank increased 10 The Associated Press average for mes, the Badlo sald-Reyter. these bonds have dropped 30 10

30 sessions to 71.4.

Money Market

US dollars opened yesterday at HK$0.044 and later dropped to $6.04. Ei the attarnoon tay went up again, closing at $605. opened at HKAL.12 arch closed at 10.13.

On the curb, Raytheon, Solar Airdraft, Kaiser Frater. Fained. Utitles and Radios dropped- Associated Press.

NOTICE TO CONSIGNEES

CONSIGNEES PER

STATES STEAMSHIP

COMPANY

Employment In the field has been cut back steadily. The sun bar of Americans in the employ K gold (industrial gold)' fluç- of the Kuwait Oll Company has tuated betwee HK$289 and been cut to. the absolute mini- $287.25 a taol in the morning mum and now consists of only a and between $281 and #289.40 in few men in top management and the afternoon. The opening and

B.B. "OREGON" baker's dozen of specialists, closing rates wore $288,50 and Surplus equipment of all sorts has $200.50.

are hereby notified that their boen

sold in great quantity • to Sterling dropped four cents to cargo is being, discharged into other all companies. Some has HKD15.06,"* been thrown onto the Kowalt Australian pounds were Wharf & Godown Co's godown the Hong Kong & Kowloon market to get rid of it. The situn- three cents to HK12:25.

Plastres continued nominal at where it will be at consigneos tion is not quite so striking in

dak and subject to the Wharf's the Aramco holdings of Snudi HK$12.100. Arabia but two gelds which have Guilders at HK$2100, were and where delivery may be Ticals at HK$27.25, and NET- terms and conditions of storage. boen

up are lying idle. unchanged. En opened The number of American ployees ta being steadily reduced! and according to

Oyewit

971-

ness reports there is evidence of deler Ridg determined, retrenchment every- where. Ibn Saud has bean

NY COTTON

obtained.

Damaged packages are to be halt in the godowns för ex; umination by Consignoes and New York, July 18. the Campány's surveyors, 11.K. Team 1004 $11,00 a $10.50, of his royalties in sterling in the the 1050 Aunerican cation plant at 10 a.in. on July 12, 1959.

usteed 'to.taka' considerable part MA“ low. Guvernicht sellmate of Masars." Cirmichael & Clarke future instead of gold woverning ing touched off a wave of buying

LTD.

I.K. B. fiatal 2,000, at $7.

Shanghai Lanil 1,000 at 81.98,"

8,800 $10.39.

19.30, 500, at 1950, 197

ILK. Electris 300 at $11.

Aala Nav. 3,000 at 65 cents.

Chine Lashs, (**): 1590. at $9.

.

China Light (014) 509, at 19:19. 400 will dollars which he has on the cation exchange. ·Fuliites To comply with the General

received to date. The royalty side closed US$10 to US$1435 a bale Bonded Warehouse Regula of the picture has been somewhat higher. casad recently

tlors, consignees must have o Crop Reporting Board of

King was paid in gold sovereigns.

Gort. %% Loan.(1848) #119,000 at:38. † 75 In the price of 'gold, since estimated 19,032,000 meren" wern), When, damaged dutiable goods for Aramco by the Department of Agriculture Revenue Omcer in attendspoe

Pacific Far East Line, Inc.

DIRECT

Fast Regular Trans-Pacific Service

BAN FRLANDIBOO, LOB ANGELKO,

OVERLAND

NEW YORK DIECAGO-DETROIT-TORONTO, NOTREAL AND ALL AMERICAN & CANADIAN CITIRA.

Ball

From

"WILLIAM LUCKENDÁCHTM "JACOD ·LUCKENDACI

Indie, Stratis

San Franciore

In part

July 10

được th July 17

Okbers, · Kebu

**TRADEWIND

Kan Francisco

July 10

MOTIDINA" BLAR”.

SPLEETWO

the

but marked difficulties are boirig planted as of July 1, compared are examined. encountered with the Saudi Art with 27,719,000 fast Year: Lowest blan. Government for the same private forecast for this year

was well over 120,000,000, On the contrary Anglo Iranian, An expected increased military half owner of the Kuwalt com- demand also boosted prices. pany, has gone up to 200,000

July bordiciober

which are

wholly

December

Drition Marat Hettich May

Traq company, pre-dominantly

*** Midd}{ng, spat": French, where the American part nors, gland id of New Jersey and ዓ. Socony, agreed to comalder : their part of production in alerting. U [2012) #2 meter skpansion ach-R

Ci dule, under way. With completion

BUSE, MOTA TAMBAY 350,000, barin

30.00-17.

35:39 bld

No claims will be admitted after the goods' . have left the steamer's godowns, and all goods remaining undelivered after July 19, 1950, will be subject to rept.

All claims

the steamer must be presented $8.00 nominal

ciated Press, the Undeigned un or before

faks 20,

Liverpool, Glasgow, Dublin, Antwerp Rotterdam.

↑ Accepts Cargo far Japan.

) Omite Hull,

Leading on or abt.

Via Singapore, Colombó, Port Sudan, Adan, and Busy Cabal

For Further Particulars, Apply To-

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

Agents

York Building.

Telophone: 34165.

THE EAST ASIATIC CO., LTD.

-1

M.S. "MALAYA

NOW LOADING

for

"

ADEN, PORT SAID, GENOA, ANTWERP, ROTTERDÁNÍ,

HAMBURG, OSLO, GOTHENBURG,

COPENHAGEN & GDYNIA

"THE" EAST TÄSIATIC CO., LTD. Queen's Bldg., "Zad Boer,

BRITISH

Tel. 24111 & 34112-

INDIA

STEAM NAVIGATION COM

(APCAR LINE)

·Offer:

LTD.

SPECIAL ROUND TRIPS TO JAPAN AT THE REDUCED FÁRES

HK$600.00 (Tat Closs)~HK$450.00 (2nd Class)

during the Summer Period

rom 1st May to 31st October, 1950 Length, of voyage appro

mately 15 days

For smilings and full particulars

NOM MACKENZIE & CO.

Ker-#nil Bärt!!