1950-10-19 — Page 12

THE CHINA MAIL, THURSDAY, OCTOBER 19, 1950.

R.I.L.

ROYAL

INTEROCEAN

℗ SINGAPORE, JAVA'

PORTS and

MACASSAR

"TJITJALENGKA"

"VAN HEUTSZ"

"TASMAN"*

ARRIVALS

-23rd Oct.

1st Nov.

8th Nov.

"only to Singapore, Penang and B. Deli.

MANILA, EAST &

SOUTH AFRICA &

SOUTH AMERICA

TJIGADAK" •

"TJISADANE"

*TEGELBERG"

ARRIVALS

LINES

SAILINGS

26th Oct.

10th Nov.

1st Dec.

SAILINGS

In Fort

20th Oct.

22nd Oct. 30th Oct.

Plot Nov.

*not calling Manila and South America,

O JAPAN

"TJIBADANE"

"TEGELBERG"

ARRIVALS · SAILINGS

21st Nov.

18th Nov.

24th Oct. 4th Nov,

Agents: HOLLAND-EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"RYNKERK"

"LANGLEESCOT"

"MARIEKERK"

Through

DO/L

lagued

Mediterranean and Norther

European ports.

O JAPAN

"RYNKERK"

"LANGLEESCOT"

*MANIEKERK"

SKINO SABUDD

"BOULE

THE WORLD

SAILINGS

ARRIVALS

20th Oct.

19th Nov.

mid Dec.

Oth Nov.

9th Dec, early Jan,

7th Nov.

22nd Oct.

7th Doc. early Jan.

22nd Nov Mid. Dec.

IN ROAD, JEURI KUSKAL 2

ISTHMIAN LINE

(Isthmian Steamship Company, New York)

DIRECT MONTHLY SAILINGS TO NEW YORK VIA LOS ANGELES AND PANAMA

“STEEL DIRECTOR"

SAILINGS TO SAIGON, BANGKOK ́&.

DJAKARTA (BATAVIA)

“STEEL SEAFARER”

FINANCE AND COMMERCE

CAPITALIST RULES Hong Kong

SET SOVIET

New York Stock Exchange

PRICES

Soviet industrial prices are now being set with the help of principles similar to those used by business men in capitalist countries, the Bul- letin of the Soviet Union's Academy of Science reveals.

Prices charged by Soviet enterprises must now be set high enough to cover costs and to permit profits to be made.

In addition they must be based on demand and supply so that prices for scarce com- New York, October 17.

modities will be sufficiently The stock market advanced to-high to stimulate increased reduce con- day for the first time since as production and rise was the Wednesday. The

weeks. Final sumption of such scarce items. steepest in two prices were at or near the best But these prices are still de- termined by planning autho- levels of the session.

rities rather than set in mar- kets through the interplay of competitive forces.

Key issues innved up fractions to more than a point and neatly 100 stocks sold at new highs for the year. Only two touched bot- tom for the year. Transfers were 2,010,000.

Chesapeake

These principles were apparent- ly used to help frame the major revision of the Soviet wholesale Among the gniners were Ad-price structure at the beginning miral Corporation, Motorola, of 1949 and the changes that took

und place this year. Sunray Oil,

During and immediately after Ohio. Willys Overland, Baltimore World War II Soviet economists St. Regis boasted that wholesale prices of industrial commodities had re mained stable despite sharp rises in costs. Only later did they re-

and Olue.

Stumbleis included Paper. Emerson and Zenith.

Tolly's rise got its start late on Moulay when a flurry of deveal that this polley had been mand for radio television shares possible because of very large helped pull the entire market out Government subsidies to many of an carlier stump. Television plants.

issues continued

to

rise

this mowing, sharing the honours for while with automobile issues. A weak strain cropped out in the TV :ection during the afternoon. however, and several finished in the minus column.

Dow Jones averages: Stocks 83.28: 20 Industrials 220.22: 1 Bails 70.10; 10 Utilities 40.73.

Closing quotations:

Adams Express Alaska Juneau American Can

22

103

A major objective of the revised price system is the avoidance of losses which require sucji stab- sidies.

A complication

Another newsprint price rise

Toronto, October 17.

An increase of ten dollars a ton in the price of standard news- print, effective from November 1, the today by was announced Abitibi Power und Faper Com- pany, Limited.

Canadianı It was the second company to announce a $10 boost in newsprint price in four days. River, Limited, al- Powell

Friday it would nounced on charge $100 a ton, $10 more thar it had been asking. It gave in- creased production costs as the reason for the boost.

Powell River, à major West const producer located at Howe Sound, North of Vancouver, Bri- tish Columbia, put the new price

U.S. warning

The setting of prices to cover costs, however, is complicated by into effect on Monday. the fact that different Soviet plants making the same product have widely different costs, the 2 latest issue of Voprosy Ekono

miki, organ of the USSR's In- 04% stitute of Economies, indicates. 151 in the case of pig iron, the

most 68% Magnitogorsk combine is

9 efficient Soviet enterprise. The 30 unit cost of pig iron is 38.8 per higher in the Novo-Tagil 774 cent higher

plant in the Urals and an average of 70 per cent higher in five Iron and steel plants in the Ukraine.

Before World War II, the cost of Donbas was roughly twice as great as that of coal produced In the Kuznetsk and other Eastern Soviet coal areas. In the post-war period the cost disadvantage et 444 the Donbas has grown even wider.

0745

In Los Angeles earlier this

representative

Em- week, US. anuel Celler, New York Demo- crat, chairman of a U.S. House of Representatives Committen In- vestigating the newsprint situa- tion, said if American companica followed the end of the Powell:

ask for River firm, he would prosecution under the anti-Trust laws.

Smelting Telephone Tobacco Waterworks

Anaconda Copper

Aviation Corp,

Baldwin Locomotive

14

29th Nov.

Bendix Aviation

48

Bethlehem Steel

44

Beeing Aircraft

Borden Co.

25th Oct..

Canadian Pacific

19th Nov. 5th Dec.

Case J. 1.

52

Chrysler

1st Jun.

Colgate

Commercini Solvent

20

Corn Products

Du Pont

Salls N. Y.

Sailed

Salls S.F. sailed

Duo II.K. 24th Oct.

Eustinan Kodank

44

General Electric

48

10th Oct.

28th Oct. 18th Nov,

52

STEEL TRAVELER” “STEEL ROVER"

“STEEL ADMIRAL”

ARRIVALS FROM U.S.A.

"STEEL SEAFARER"

"STEEL TRAVELER"

STEEL ROVER" "STEEL ADMIRAL”

27th Oct.

24th Nov.

13th Nov. 4th Dec. 8th Dec. 30th Dec.

GILMAN & CO., LTD.

Tel: 31140

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

Tels: 28823, 25553 & 23483.

SWEDISH EAST ASIA CO.LTD.

ARRIVALS FROM EUROPE

.13th Nov. ..4th Dec.

Goodrich

Goodyear

Motors

Homestake Mining International Harvester

50% 191

79%

1144

014

3914

31

Paper

474

Tel & Tel

40%

·00 35%

27

51

41

Pan American Airways

9%

20

17%

19

Johns Manville Ketinecott Copper” Montgomery Ward National Distillers

Lend New York Central

Packarit Motors

Pennsylvania R

Radio Corp.

Real Silk

Remington Rand Republic Steel

Reynolds Tobacco Schenley... Sears Roebuck Shell Oll Socony Vacuum Southern Pacific Standard Brands

1.v. "BALI” m.v. "CEYLON"

SAILINGS TO EUROPE

m.v. "TONGHAI”

.31st Oct.

m.v. "BALI”

.20th Nov.

LY. "CEYLON"

..end Dec.

1

+1

FOB

ADEN, PORT SAID, GENOA, MARSEILLES, CASABLANCA,

ANTWERP, ROTTERDAM, BREMEN, HAMBURG, COPENHAGEN, OSLO & GOTHENBURG

+

coptanks availablo for Buikeli

GILMAN

CO.

• LTD.

Tel, 31148

THE EAST ASIATIC CO., LTD.

M.S."

ANNAM

LOADING 25th OCTOBER

for

ADEN, PORT SAID, GENQA, ANTWERP, ROTTERDAM,

HAMBURG, USLO, GOTHENBURG & COPENHAGEN

THE EAST ASIATIC CO., LTD.

Oil of Callt.

Oil of N. J.

Studebaker Union Bag

Carbide US Rubber "Steel

Singapore short of

currency

Singapore, October 17." This wealthy British colony found itself short of Straits 17% currency today.

The

Rep. Celler said the Powell advance undoubtedly will be followed by all newsprint comp

both in the US. and panics Canada." He added that this is: nothing but a price squeeze

ana

If the American companies follow suit, I am going to ask President Truman to exercise his power under the defence production act to provide for cutbacks."-Asco- ciated Press.

Money Market

Stock Exchange

The market presented a firmer appearance yesterday and rates were inclined to improve." Rub- bers remain strong and Sungel Durls changed hands at $27, a riso of $3 over Tuesday's quotation: The undertone at the close was very steady.

HK Govt, Loans

1 Loan Vihi.

Loan (1814-1918) Dan. 31 Lonn (1018) b.

Banka

BK & Shandbal Bank' 2,4256.

(Lon, Reg) £87, Charterrit Bank 210 5/16, Mercantile Bank A. & B 52311. Bank of East Alu 107.

Insurances

Canton ins, 2004.

Union Ins. CHO

China Underwriter: 1.30.

IK Fire Ine. 145.

Shipping

Dougie Bon.

Kreso Seambuts 11. tula Chin (Prof.) 12.

(Det.) n. Shells (Ilearer) Ga/t. Unlon Waterbeats 182. · Ain Nov. sb.'‚1⁄2.

Docks, Wharves, Godowne, Etc. H&Kowine Whineves F&T, North Point Wharva 3,491, 5,60%, 2žárn. Shanghai Hanukew Wharva 541. 11K Docks 10n.

China Provbléntaj 12h

Shanghal Dockyards $15. Whelka 256, 2514.

Mining

Raub Mines '4.77m.

HK Mine.01.

Lands, Hotels and Bulidings K&Shanghai Hotels 8.15.

HK L 45h, 14, 45on, Shanghai Latids 1.0.

Humphreys Un

HK Meniti 10m.

Chinese Estate 719.

Public Utilitles

KK Trys 113, 14!k; ziwa. Peak Trams 40d 18.

New, 8. Star Ferries 7, 72, China Light (014) 13.107, 13/133jum. (New) 9.10, 0.10/1 HX Eletries 2714b, 299, 27/271240. Magno Eleriries -11 m.

(New) 10in.

tion b.) 10an. Bandakan Lights R Telephones föld: 12.

(New) 16925. Shanglu Gas 11gn.

industrials Cali, Mars, (Ont.) 22731, Canton era 311⁄2n.

Cemetits 196, 194s, ƒâ1⁄4ása.

MK Ropes 15k.

Glores, Etc.

Delry Farms (Qld) 1311⁄2b, 14», 133⁄44/1486,

[New] 12.

Watsons 256, 26##.

L. Crawford 230. Blocores In

China Emporium An. Sun Co., Ltd, 1.7on. Hient Bank Hong bồn, Wing On (KK) 43n. Powell,.Ltd. Kn.

US dollars opened yesterday at HK$6.19% and closed at $8.17. The rale went "up-to-86.2014W.. shortly after the opening, the highest of the day, but almost Immediately weakened, was brought down to $8.18. It was maintained more or less at this level until the close when it suddently slumped to $6.17.

and it

Bankers said they were having difficult time trying to get adequate supplies of banknotes to meet demands, and that Siralts

Transactions in TT were ro- $10 notes were the most penice. 14

shortage is caused corded from HK$0.22% at the currency 43% by unprecedented increases in opening down to $0.17% at the 381 bath production and prices of close. These were the highest

and. lowest rates. 33% ubber and tin. 523% The government has put about

Industrial Kold opened .ut 54

(Straits) worth of $100,000,000

tact and closed at circulation. In HK$284 a 245 banknotes into

highest were the since the beginning of $282. These 60 Malaya 2234 the year. But it is not enough to and lowest rates of the day.

improved to $15.90 at the 744 of tin mind while railing prices but pro opened at HK$15.83

00

3431

40

3514

514

40

18

33

Lines Westinghouse Youngstown Sheet & Tube, 513% Gen. Pub. Utilities

Bonds were higher. curb gainers were Louisland Land, Atlas Plywood, Cities Ser- vice, Electric Bond and Share- Associated Press,

and rubber. Rubber

sold at $1.02 (Straits) per pound. There are now $600,000,000 (Straits) worth of barknetes circulation in Malaya 'and Singa- port, an all time record.

Rubber men need a lot of cash to handle the daily rubber trans- here. Most of the rubber actiona 10%

Is bought from small-holders who are paid in cash. Among The demand for Straits dollars In Indonesia is also said to con-

to the shortage: tribute to

Finahelers said the shortage is not caused by inflation. They said the Straits dollar is stronger than ever and many say It is worth

than

the official rate $4.07 to $1.00 (U.S.). Since Straits dollar la pegged to the

—L'ONDON STOCK MARKET QUIET

London, October 17.

more

pound.

close.

Australian pounds were 15 cents down to HKS15.75.

Plastres continued, nominal at HK$13, a 100.

Miscellaneous China Entertainmenta 1319h, IK Construeilona (01)

(Now) 130- Vibro Pilings 1th.

Marsman Investments 97-. Marsman (HK) 51) Ebanghel on 10. Shanghel Explor, 20m. Yangice 24

Evros Jļļa.

Cottons

Rubber, etc. Comparler Alma Flates 14.805, 176. Anti-Dutch .40.

Anglo-Javan 26).

Hatu Ananas 20h.

But Plantations 955, 20sa Chemor Valikt „sob” Cheng Rubbers £76. Consolidated Rubbers 1.555. Dominion Rubbers .76h. Js. Java-Consolidatede „GA. Kola Baron th. Irwick Javas 20h. Langkats 10.

Padang Rubbers 17”. Repah Rubbers 155.

Rubber Truita 2.600.

::

Ticals at HK$27.10 a 100 were unchanged.

NEI Guilders opened at HK$4 a 100, and dropped '20 cents 'aț the close.

AUSTRALIAN WOOL FOR AMERICA

armament, tequr chil

be

Washington, October, 18. British pound sterling, the oficial A reliable diplomatle source rate cannot be chttaged unleas said today that the Australian The London Stock Exchange Britain changes the value of the Minister of Commerce and Agri- closed quietly steady."

culture, John McEwen, is ex Industrial Issues showed a mixy Government sources said the pected to assure high State ture of small gains and losses, shortage would soon be overcome; partment and Agriculture officials Government issues gained email as newly printed supplies are en that the, United States will amounts on buying attributed to route to Malaya from England able to get all its wool for re- long term investors. American Associated Pres.

through for issues

the system of tinfformly down.

open auction in Australia.

Government The Australian does not see any likelihood so far of Soviet Rusai and her satel

les trying to outbld the United economic Slates as a policy,

purchases Their total":

were almost

Financial Times indax 116.0 Associated Press.

QUIET COTTON

TEXTILE MARKET

New York, October 10,

TITO'S APPEAL FOR UK LOAN

London, October 16, Sir Charles Penke, Britain's

weol in

Ambassador to Yugoslavia, will warfare, wears are the total |

support Yugoslavia's appeal, for a

fri

Iess

Belish.loan, when he meets the five per cent or had uverages

Unite!

The cotton textile market was Foreign Secretary, Mr. Bovin quiet but resale offerings of print a day or two, diplomatig quarters state should consider the pro cloths ficreased slightly,

This brought an easier tene to understood here." that section of the market. As

Me, MoDbwen, sald the bought in Australla.

prices she is paying

for Australik

Air Chartes Jeft Dolgrade for for woot as "Poini

sent

predicted in trade circles, the London kuddenly during the Week Four program develop Aus-

will which will

Army called for invitations on

here forgeant that big trails, and consequently render 13,300,000 yards of duck fabrics. This is expected to tighten up the personal intervention was likely her strategic situation In markot duck cloths consider to tip.the

the Pelic still stronger.

BGeorge Parkink Amistant Be

auly

The wood foods market was alkyla to buy stendy,, Demand for pless: goods

Bamagar Rubbers 56b.

+

Bemamba Rubbera .456. Bbanabal Keiluhy dith, 45, Gam. Hbanghal-Malaya 100. Shanghal hair 76h. .500. Shanell Buidhtina 1.200. Bus Maserit „Ach" Bungel 'Dürü 286) 27mm. Tanah Moruba „00), 1 Telona Rubbers Rib. Zingbe Rubbers .40b.

BUSINESS DONE (Direct business) Wheelock 100 •m? • #2535/7

North Folet Wharre 1.000 at $535. HK Landi 300 et £. **!

ཧཱུྃ།

XK Bhanghai Hotel 227, at 13. JIK. Tram 200 at #15%, BOD`at $14. Obins Light (Old) 600 ks 512, 538

$13...

China' Light (New) 1,000 st 19,10,

IK Eléria 300 ■-827, 138 at #27, 140 'at $17, '#58' at $273%, '€39 at 43734!

12000 41 18735N MA dement

cost $1316, 500 mi 8131⁄2, Dairy Farm (Old) 818 at $1494. 1,009

at $19, 200 at 913, -

Whalenent,301 ÁÐ

1,000 al 1956

`2.200 42 B2437)

Blar Fürlès 100 at $72) 2

"Asia. Nav, *1;ado at 9235 cents, 500

lat Tajā vente..

Daley Farms (New) 160 m3 75%. "Buto Plant, 5,600) at 10 centi

Bhaha! Kahe 500 at #1, Bhanghai Pihanke: 8,000m 85 deule Búngát" Durk #500°nd $27,

UK AIR

The

expor

AMERICAN PRESIDENT LINES

The Globul flect.

St. George's Bldg.

Tel.: 28172/5...

October 28th

ད་

S.S. PRESIDENT TYLER

Sailing direct for NEW YORK-BALTIMORE-BOSTON).

via Los Angeles and San Francisco

16 DAYS LOS ANGELES'.

19 DAYS

37 DAYS

SAN FRANCISCO

NEW YORK

Speed-Regularity—Froquancy Dependability

BENYLINE ALINE

SHIP "BENYORLICH" "BENMACDHUI"

"BENALDER" "BENAVON" "DENVENUE"

"BENLAWERS" "BENMHOR" "BENATTOW" "BENLOYAL" "BENCRUACHAN"

"BENVORLICH” "BENALDER" "BENVENUE" BENWYV18" "BENMHOR” ***BENATTOw"

"BENLOMOND"

"BENMACDHUI" "BENAVON"

"BENLAWERO"

"BENCRUACHAN"

FAL

PAR

SPIVALS

PKOM

DU!

U.K. via Bingapore on or abt. 26th O

#

2nd N

14th N

1st D

.14th D

tet J

10th J

17th J

23rd

29th J

SAILINGS

Loading on or E

28th O

17th

17th

London, Antwerp, Rotterdam, & Hamburg

27th

14th

21st

20th

Liverpool, Glasgow,

5th

Dubili, Antworp Rotterdam.

5th

5th

Srd

*Accepta Cargo for Gonam, tAccepts Cargo for Havre.

† Omita Antwort vonzza

Via Bingapore, Colombo, Port Budan, Aden, & Suez,

For Further Particulars, Apply To- W. R. LOXLEY & CO. (CHINA) LTD

York Building.

Peninsular

Agents

QUIS NOS

Telophone: 3416

& Orient

STEAM NAVIGATION COMPANY

P

R.M.S. “CORFU

NOTICE TO PASSENGERS

SAILS: Friday, the 27th October at 6 A.M.. for the Un

Kingdom via Straits, Colombo, Bombay, Aden and F Sold.

܀

A

BAGGAGE: ALL passengers baggage must be sent to

Hongkong & Kowloon Wharf. Co.'s Godown, at NO GATE, CANTON: ROAD, ENTRANCE BY 5 P.M. Wednesday the 25th OCTOBER,・・

"SPECIAL NOTE: With the exception of hand packages o ried by passengers themselves ALL BAGGAGE Am pass through the Whart Co.'s Godown for loading: board by ship's slings only.

EMBARKATION: Will take place on THURSDAY the

OCTOBER between 4 P.M. and 6-P.M.

MACKINNON MACKENZIE & CO.HA

COLLISION

CONFIRMED

AGENTS.

London, October 17.

ACHESON NOT

TO RETIRE

Washington, October:11

collision Involving two novel The State Department les Naval cruisers. Gambla (9,000 denied rumours that MIC"P tons), and Phoebe (8,100 10ns) of Acheson would retire na Secteu the coast of Malta during cherr of State at the end of the sDER clata yuzlarday, was condemned, by da

the, Adijitaly, in London" today. The rumours had been circul Amplying, for some time following cri when alam of Mr. Achèpon by, Lapi Pod from can Congressmengde

BUIN UZA State, Départien

urred