1950-12-11 — Page 11

THE CHINA MAIL, MONDAY, DECEMBER 11, 1950.

A Quiet

R.PL Week In

ROYAL

INTEROCEAN LINES

• SINGAPORE, JAVA

PORTS and

MACASSAR

"VAN HEUTBZ” •

"TJISADANE”

"NIEUW HOLLAND"

"TASMAN" -

"TJITJALENGKA"

· ARRIVALS

14th Deo.

IN Dec,

.22nd Deo.

23rd Deo,

6th Jan. 51

• Only to Singapore, Penang & B. Dell.

• MANILA, EAST &

SOUTH AFRICA and

"SOUTH AMERICA

"TJIPONDOK"

"TJIKAMPEK”

"RUYS"

"BOISSEVAIN”

"TJIPANAS"

• JAPAN

"TJIPONDOK”

"RUTS"

"TJIPANAS"

"BOISSEYAIN"

ARRIVALS

12th Dec.

In Port

18th Dec, 19th Jan, 51 20th Jan. 'SI ARRIVALS

Et Jan. 51

7th Feb. 61 7th Mar. '51

SAILINGS

18th Dec.

26th Dec,

2nd Jan, 51 11th Jan,'51

SAILINGS

110i Dec.

8th Jan, '1 Din Mar. '51 0th Feb. '51

SAILINGS 15th Dec. 22nd Deo.

23rd Jan. '51 21st Jan. '51

London

London, Dec. 10.

The Stock Exchange went into semi-rotirement this week under the stress of the inter- national situation.

record ol the The official

was dealings for the week 34,503, which showed a fall of

which

10,000 compared with the pre-

ous week.

was the vious lowest since Sept. 8. Much business done was of techni- nimed at cal

nature, mustly keeping the books level since it had seemed obvious that almost any hour n statement might come from Washington or there might be some development in Koron to alter the whole ple- ture.

because

3

11

Stockpiling Presenting JARDINE, MATHESON & CO.,LTD.

Experts With Problems

(OUR OWN CORRESPONDENT)

London, Dec. 10.

*,

FREIGHT AND PASSAGE DEPARTMENTS

18 Pedder Street. Tel. 80311,

INDO-CHINA S.N. CO., LTD.

1

0.6. "EASTERN

QUEEN"

One of the problems facing the Anglo-American working party which was set up following the talks between Mr Attlee and President Truman on the economic implications of Western European defence pro- grammes will be to decide to what extent American stockpiling purchases are depriving Western European industries of their "fair share" of raw materials. And having, decided, to do something about it.

Few people would disagree in principle with the American stock- piling policy. Its purpose is to build up stocks to ensure that in the event of war American industries would not be handicapped by shortage of raw materials,

the form

lease would

There is, however, a growing] Countries to which releases are] well above yearly totals of 1938 degree of resentment in Western to be made will receive them in and 1939.

The second largest exporter of European governmental and

of capital goods to

was India industrial circles over the rate assist their development pro- cotton plece goods

square yards had Gold

which shares,

at which the American stockpile grammes. We are thus back to with 750,000,000

the old steadily declined since the oul-

problem of "unrequited while Britain fell back to third! being accumulated.

totalling with exports place break of the war in Korea.

The actual amounts of raw exports.

the American section of materials which

If world conditions were what 390,000,000 square yards.

The were the steadfest

British figures are the market this week. This stockpile alms to absorb have we wished them to be these re-

too nothing to be ashamed of. They not impose of the always been and remain A was probably shake-out Inst week when closely-guarded nceret. But the great a strain on our economy.represent more than a 100 per-

But

be remembered cent increase over last year's it should "carry-over" facilitles were re-

re-following Bgures give some idea that they will be drawn during total. fused to many speculators. The of the extent of this "non-

is But British exporters are far Industrial market was bolstered commercial" demand which has a period when this country

all the more concerned about the Japan- actively re

rearming and extent by

fri- up to a certain

upset the world markets.

while the terms of trade

figure. The Japanese moving against us, necessitating dustry has grown since 1946, even greater efforts to increase when it exported only 200,000 our exports. This three-way square yards of cotton plece streich may yet prove to be goods, into something of a mon- more than our economie fabric ster in the eyes of Lancashire

exportero. can stand.

Agents: HOLLAND EAST ASIA LINE shal

EUROPE via MANILA

and MALAYA

"LANGLEESCOT" #

"MARIEKERK"

"MELISKERK"

Through BB/L Issued to Mediterranean and Northern European Ports.

JAPAN

"LANGLESSCOT"

"MARIEKEEK".

**MELISKERK"

ARRIVALS

15th Dec.

... Mid Jan '51

# not calling at Manila ARRIVALS

.22nd Dec.

7th Jan. '51

9th Feb. '51

SAILINGS 24th Dec.

11th Jan, '1 1012 Feb. 'B1

SAILINGS

1911 Dea Mid Jan. 51

AE CEKINGSNHUILDING, TELECHONGS V21015210T28011-20

V MACHINISKEAGENTSTIE NAUGHT, HOAD, CHISINAN

2 FLIGHTS WEEKLY!

a

sharp rise in tramp shipping shares,

only and showed small average fall over the

weck.

1939.

arc

It has been reported that the stockpile has already absorbed 400,000 (short) tons of copper. It aims to accumulate 2,500,000 tons roughly the amount that With freight rates rocketing is expected to be produced in upward, shipping shares en- the whole world during 1950. Joyed a boom. China bonds The price of copper has in- also made a slight improvement creased by over 300 percent share section had an uncomfor~ The table time. Apart from

at an annual rate of between possible threat to the source 50,000 and 60,000 tons a yent. of supply, the contend with the Malayan ex- of 250,000 tons-cquivalent to port duty and possibility of about one and half years' pre-Britain's intention to translate change in the American buying duction at the present rate. The policy-United Press.

price

of tin has increased by nearly 1.000 per 48 ITEMS

cent since 1939.

over the week. The rubber since ckpile is absorbing tin and it is to be hoped that this for these goods must return to a

Whether events prove we have bitten off more than we can chew or not, the fact remains that the gesture has been made British initiative will not be wasted.

Refusal to enter

ture by this country is proof of the idea that was born at Colom- bo into action as soon as possible. THE STOCK EXCHANGE The Stack

While the world wants cation plece goods the market is bla enough for everybody. Sooner the demand or later, however, more normal level. What then?

its pre-war practice and start undercutting prices? Time alone will tell.

market had 10 Its aim is to build up a stock counter-claims for war expendi hey ask. Will Japan revert to

NORTH To

TAIPEH & TOKYO MONDAYS & FRIDAYS

SOUTH Jo

SINGAPORE via BANGKOK WEDNESDAYS & SUNDAYSY

Express Skymaster COACH SERVICE at reduced rates!

PACIFIC OVERSEAS AIRLINES,SIAM

ASIA ADE

PENINSULA HOTEL, KOWLOON. PHONE 58865.

The wars our generation has witnessed have brought what wars have always brought disturbances, unrest and a feeling of general insecurity-that's the way of all wars. Industry and mutual trade-useful pursuits of peace-are the endeavours in the opposite direction. This concern has argued whenever it could, that free access, free intercourse and trade between peoples, contributes to peace and friendliness and security and takes the tension off whore diplomats seem to fail. For, when all is said and done, people want the opportunity to work for a living. Trade and industry, free and untrammeled, not only con- tributes to that opportunity, but is a way of life. Vessels of our Line are plainly marked and can be recognized easily when they sail in and out of the principal ports of the world, and we like to feel that they are practical symbols of this philosophy:- Isbrandtsen

INDEPENDENT

DEPENDABLE

Regular Sailings from Hongkong to New York, Baltimore and Philadelphia via San Francisco or Los Angeles

S.S. "FLYING CLOUD"

DUE FROM:

New York via Manila Last week of Decem- ber

SAILS FOR:

Tsingtao, Taku Bar, Kobe, Nagoya, Yokohama, San Francisco, Los Angeles, Now York, Baltimore, Philadelphia, Boston via Panama Canal. Last week of December.

TOTAL

The stockpile also aims to accumulate 3,750,000 tons of manganese (2,752,000 tons more than it has

far);

1.000.000 tons of rubber (equal to more than half the total estimated world production of 1950); and to add 10,000,000 lbs of tungsten to its present reserves of 47,- 000,000 lbs.

13st

The Stock Exchange had patchy week following week's wholesale marking down

War fears.

The markets were

events. awaiting

on war

10

1

HONGKONG SHARE MARKET

The

hesitant,

Brightest spot was in the ship- where broadening ping group demand for "tramp" issues re- sulted from rising freight rates. Gill-edged showed tendency

business on volume of and last week's the Stack Exchange this mor- downward

reversed, trend

wasi the

oversed ning was valued at $449,735. The day's business and noon Japanese issues were strong on closing prices were as follow:-~~ news that the Japanese Govern- SHARES DUYERS SELLERS BALES ment was seriously considering GOVT. LOANS resumption of interest on UX- 4 con-ternal bonds but later there was BANKS.

amount a certain

of proft- taking and prices olosed below

The stockpile is also absorb- ing other scarce raw materials such as sisal, aluminium, zinc, nickel, cobalt, chrome and lead. The price of all these raw materials has increased siderably since 1930.

Altogether there are 78 items: materials which on the list of are being stockpiled,

The danger of this huge pro- gramme is twofold: It is largely for the alarming responsible rise in the price of certain saw materials and it is depriving in- dustries of other

countries in

best.

recover

foreign ban

bands market half

HK Bank

INSURANCES

Union...ARKA SHIPPING

Asin Nav and prices; DOCKS, ETC.

Activity In the industrial shares market was again limited to selected issues, were generally at lower levels.

Rubber shares were weak on renewed fears of war in the For East. These fears were also re- the Western Alliance of theflected in the weakness of tin means to carry out their own contribution to the common de- tence presTANTIC,

shares,

some

of

Coppers were firm and oll shares regained

last week's losses.

During the week Cadbury Brothers announced a £3,000,- 000 issue of four percent un- secured notes. The notes are to be placed privately and the

1. "PRONTO" .4%. "WINGSANG"

*4. "KUTSANG" 9. "CHUNBANG"

1. "PRONTO" 8.1. "WINGBANG" 9.8. "KUTOANG"

BAILINGS TO

Singapore Calcutta 11 am. Tientala

Koolung

12th Dec.

14th Doo.

18th Dac.

Yokohama, Nagoya & Kobo..

19th Doo..

17th Doo

ARRIVALS FROM

Tlontein

Tiontein

Koelung

Calcutta & Stealto

11th Doc.

13th Dec.

13th Dec.

Cargo accepted on through Bill of Lading for MADRAS A PONDICHERRY via Bingapore and for KUDAT, JEBBELTON, LABUAN , TAWAU, LAHADDATU Gandakan.

SEMPORNA VIR

AUSTRALIA CHINA LINE LTD.

*m.v. "KAFIRISTAN"

SAILINGS TO

Lao, Brisbane, Sydney, Melbourne & Adelaide 14th Dec. (Limited Passenger Accomodation Avaliable)

ARRIVALS FROM

m.y. “KAFIRISTAN"

..... 13th Deo. Japan *Cargo accepted on through Dilla of Lading to Tasmania, New Zealand and Pacifio laland Porte.

GLEN LINE LTD.

SCHEDULED SAILINGS TO V.K. AND CONTINENT

m.v. "BRECONSHIRE"

Loads 23nd December, Sails 25th December, for Straits, Colombo, Aden, Buez, Port Sald, Alexandria, Genos, London, Rotterdam/Amsterdam, Hamburg and An- twerp. Duo London Ist. February. m.v. "GLENEARN"

•

Loads 4th January. Balls 8th January for Straits, Co. lombo, Aden, Suer, Port Sald, Tangler, Casablanca, London, Antwerp, Rotterdam/Ametardam, Hamburg. Due London 14th February,

(Carriera option to proceed via other porta to load/dlechargo cargo)

SCHEDULED ARRIVALS FROM LONDON

m.v. "GLENEARN" m.v. "GLENGARRY" m.v. "RADNORSHIRE"

Leave London

Dus H.K.

Balled Balled

14th Doc.

24th Doc.

5th Dec.

10th Jan,

INTERMEDIATE SERVICE

m.v. "FLINTSHIRE” m.v. "PEMBROKESHIRE"

(All outward

Sailed

15th Dec.

Balled

20th Jan.

vomela accept Cargo

for Japan)

PRINCE LINE LTD.

ARRIVALS FROM U.S. ATLANTIC & PACIFIC PORTS

Ballo N.Y. Balls 6.F. Dua H.K.

Balled Salled

Salled Gth Dec

EAST COAST, CANADA & USA. via SUEZ

12th Dec,

2nd Jan.

Loads 12 Dec., for Wanishi, Philippines, Java, Singa. poro, Straits, Colombo, Halifax, Boston, and New York Vessal may call at Saigon and Slam.

m.v. "EASTERN PRINCE"

Loads 2nd Jan, for Wanishi, Philippines, Java, Salgon Colombo, and Glam subject to inducement, Straile, Halifax, Boston and New York.

m.v. "BRITISH PRINCE"

m.v. "EASTERN PRINCE"

134,000 09

1230

31300

20 @ 1200 120 1230

m.v. "BRITISH PRINCE"

635

05C

7000 @ 671c

13

... 103%

3.15

7.40

S'hai Land 1.10. UTILITIES

Tran... 1232 Star Fx C. Light

X, C.R.

600 TEO

500 7.50

100 12,73

10

1280

13 100 @ 13

register

their

names as far as possible in advance

of the time

1000 @ 12.50

at which they wish to leave.

C, Light (N) XD, C.R. Electric..... 2014

a

1000

83%

27 200

Dock Provident S'hal Dock LANDA, ETC. HK Hotel

BRITAIN CO-OPERATES The United States Govern- mont has taken strict measures to control civilian consumption of certain raw materials but the amounts thus sot free have not been made available to money is required to finance other Western countrica-they company purchases of cocoa, have merely been transferred HONGKONG'S POSITION

that

that Hong-INDUSTRIALS

Telephono merchants were selling Coment

to the stockpile. The fact

thene controls have been im- Although reports

posed, however, makes it dim- vital war materials to Red China STORES, ETC. cult for Americans to under- have been discounted here, they

the European point of ❘ seem

seem to have a more recep- Live audience in

stand view.

States

Before the United Government agrees to cut down

the United American anxiety to

ite stockpiling purchases it was its own exports unding i

1000 @ 12.90

10%

23

Daly

13

Dairy (N)

11.75

..... 2135

21% 2.83 1000

1000

2000

Watson

way Into Chinese Comm COTTONS hands is understandable Two require evidence that Western ist European countries are them while Chinese troops are making war against the United Nations selves taking steps to control forces in Korea. If there does

acceece coo

civilian consumption. So far as happen to be a leak it is wine New York Cotton Britain is concerned these steps to close it while it is still no

The

have now been taken. Government this week ordered more than a trickle. cuts in the consumption of zinc,

aluminium and nickel. Coppe

room, however, co-operation in the allocation of essential raw materials to those countries which form the North Atlantic Alliance.

New York, Dec. 9, But the restriction of exports

Colton futures today turried to Hongkong presupposed that

firan start. the local authorities have failed irregular after a in their efforts

25 points to prevent the The market closed from the Colony to the main- liveries closed higher with the nearby.. May. land. This is simply not true, exception at

today, as tol- an Mr E. G. A. Grimwood, the Frices closed Hongkong Government's repre- lows sentative in London, has been pot

December at pains to point out during the arch (psi) last few weeks.

MAY

for a much greater, degree of export of strategic materials higher to three lower. All de-

October

THE COLOMBO PLAN Britain has taken the lead in making

avaliable money

to Anance the Colombo plan for

If trade is in fact restricted, July economic development in south and south-east Asia by announg Hognkong will suffer unneces- December

Most of ter raw March (1937) ing the rate at which Sterling sarily balances held by India and Cey- materials imports from America Mar....

for local industry, lon will be released during the are needed

and without them there will be next six years.

43.00

$1.00

41.80

42.20

40,77 - 40.79 37,04 30.00 nominal

34,43

*

-36,25 United Prem,

hold by grave dislocation of trade and Exchange Rates

Storing bolances India will be released at the rate possibly unemployment. As al- the wrong people will

Business was done in the local of £35,000,000 for each of the ways,

unoMelal exchange market tile six years covered by the plan, suffer.

JAPANESE RECOVERY

morning at the following rates: and Ceylon will be able to draw

15.00 The remarkable recovery of Sterling note (per &) £21,000,000 of

Sterling its

Indonesia guilders (per 100) balances during the period July Japanese industr, is reflected in US dollars (per 31)....

the world export agures for slam ticais (per 100) 1950 to June 30, 1957.

30,1

cotton

goods, These Singapore Straita) Negotiations

plece with Pakistan regarding her Sterling balancos figures show that Japan is now FIC plastres (per 100) (Transhipment cargo accepted for Jamaica, Havana and other are still proceeding, and agrees the world's largest exporter of

Cuban Ports, also Venezuela.)

LIMITED PASSENGER ACCOMMODATION AVAILABLE

For Information Apply to:

1,

these goodn.

0.10

4010

27,00

1725

11.00

Now York, Dec. 0. ment is expected soon.

During the first nine months Although these announcements

Prices in the metal market closed unchanged with ware undoubtedly designed to of this year Japan exported

square yards

of hero give the Colombo plan a flying 803,000,000

the following exceptiona start: not everybody is satisfied cotton place goods. This was Tin, Grade A (19.50 per cent,

times ità total or higher) New York, per, ib. 141- that our economy can stand the more than four

and was also strain of such large releases exports for 1940

-Unlied Prem.

Pacific Far East Live, Inc.

Fast Rogular Trans-Pacific Service

OVERLAND

NEW YORK-CHICAGO DETROIT-TORONTO- MONTERAL AND ALL AMERICAN - CANADIAN CITIES

Above Dates Subject to Change

A.P. PATTISON &

CO., INC.

DAN FRANCISCO, LOA ANGELES:

Vesni

From

Arrives

Tel: 25840.

"NORTHWESTERN VICTORY” "EDWARD LUCKENBACH- ***, '7. LUCKINDA CIP": “CALIFORNIA: NEAR”

traits

Dec. 15

· Dec: 10:

Dec, 10

Deo, 17

San Franci

GENERAL AGENTS; CHINA, FORMOSA, KOREA, JAPAN AND HONGKONG,

12-14 Queen's Road Central 4th Floor.

OVERSEA – CHINESE STEAMSHIP CO., LTD.

48. Bonham Strand.Wost, 1st Floor.

CHINESE AGENTS:

Tela 1:26127, & 81119;

Dec. 18

Ban Franciero via Kolo,

Yokohama. Valcouror San Francisco & 24s Anguins

Bingapore, Diskarta." Bombay,-

Karachi or Thos

San Frandleng de Low: Angeles

Jan. 11-omgapore, Djakarta, Dolembe

Cargo for St John (N. B.). Montreal and Bermuda with tran shipment at Halifax or New York,

All the above subject to alteration without notice. All Intending Passengers should

PACIFIC TRANSPORT LINES

ARRIVALS FROM SAN FRANCISCO

8. "PACIFIC TRANSPORT".

L. "AMERICA TRANSPORT" L. "CHINA

"PHILIPPINE

TRANSPORT".

TRANSPORT"

Duo H.K.

Ballo 8.F.

Balled Salled 23rd Nov. 9th Das.

20th Deo.

·27th Dec.

29th Dec,

10th Jan,

TO KOBE, NAGOYA, SHIMIDZU, YOKOHAMA, SAN FRANCISCO, &- 108 ANGELES

** "PACIFIC

TRANSPORT".....

Bulls H.K.

21st Dac

TO MANILA, CEBU, KOBE, NAGOYA, SHIMIDZU,

· YOKOHAMA & SAN FRANCISCO

* Dalle R.K.

... "CHINA TRANSPORT? ********** 29th Dec..

TO CEBU & LOS ANGELES 2. Balls H.K. : 27th Doc.

"AMERICA TRANSPORT

Due 8.F.

19th Jan.

Duo:8.F. 80th Jan,

Duo L.A. 22nd Jan,

Through blils of lading issued to any Port In North America a to Bouth American Ports.

JARDINE, MATHESON.

18 Pedder Street

WATERMAN

CO. LTD.

¿Tel:80811

STEAMSHIP CORPORATION

MOBILE ALA USA

WATERMAN LINE EXPRESS

FREIGHT SERVICE ***

FROM US, ATLANTIC COAST YLA JAPAN

1:a. "LAFATETTT""

6. 6. "WAR HAWK"

Duo about

DIRECT FOR

anh theo 120

NEW YORK, BALTIMORE & PHILADELPHIA VIA JAPAN & HONOLULU:

B. 5. “LAFATSTIB

Galls, bout

15Ah Doc.1930 2013: Tree," 1840: ING TRANSHIPMENT CARGO TOR

GULF FORTS.

1. K. "WAR MAWAY.

ALBO

WALLEM & CO., LTD.

gkong a Siadebüt Khák, Bürdi