1951-01-05 — Page 11

Rushes To A New High

America Gropes For Solution Wall Street To Drastic Shortage STEEL

Of Newsprint

New York, Jan. 4.

With United States newsprint consumption outstripping production,' publishers and manufacturers are groping for a means of putting the two in balance,

In its simplest form, the answer to the news- print shortage appears to be: 1. Cutbacks by the publishers or, 2. Increased production by manu- facturers.

However, with present planned exparsion of pulp mill facilities apparently unable to keep up with the present rate of demand, publishers will probably be forced 'to take the first step.

Industrials Higher In London

One newspaper authority be lieves the Ume of decision will) come early In 1931.

HONGKONG

SHARE MARKET

on

The volume of businces the Stock Exchange this morning was valued at $80,739.50, The "The inability of the dollar- half day's business and Toon short sterling market to pur-closing prices were as follow: chase newsprint Is the

only SHARES DUYENS BELLERS BALES

thing that has saved us thus far," he said.

Publisher savings may be A fifth effected in four ways. possibility, consolidation of London, Jan. 4. Industrial

shares newspapers, has been ruled out were generally higher on the by experience which shows that London Stock Exchange today. British Government bonds were at present when firm.

papers consolidate,

Leading

DANKS

East Arla

EXPANSION

SEQUEL

MOST LEADERS SHOW GAINS

New York, Jan. 4. The stock market rush ed ahead today to a new high for 1950-51.

Washington, Jan. 4. Swift expansion of the United

Most of the leaders scored States steel industry for de-

has caused a "chain galas less than $2 a share, but fence reaction" in the world iron some went beyond that.

to Transfers situation, with a stimulus

were

9,300,000 new production of iron ore In shares. many countries and the pro- spect for expanding commerce in ore, and pig iron

came

on

A til of 717 locs advanced and 204 declined. There were 100 new highs and only two new lows.

NOTICE TO, CONSIGNEES

Consignese por

BARBER-WILHELMBEN LINA

́ma “TUNGUS"

from Japan

are hereby, notified that their cargo is being discharged into the Hong- kong & Kowloon Whart & Godown Co's" godown where I will be at consignoes risk and subject to the Wharf's termu аться condition of storage, and where delivery may bo obtained.

Damaged packages are to be left in the godowns for examination by veyors. Messrs. Goddard de Douglas Consignees and the Company's mat-

at 10 am, on the eth January, 1971.

To comply with the General connees must have a Revenue

Warehouse Donded

Regulations,

Offloor in attendanoo when damaged dutiable goods are exaruined.

No claims will be admitted after the goods have left the sleamers Godown, and all goods remaining undelivered after the 8th JanuRTY, 1931, will be subject to rent.

All claims against the steamer must be presented to the Under- nigred on or before tho January, 1051, or they will not be

The huge new burden

Only two stocks on the list of United States keel production 15 most active were lower,

at a time when higa

Among guiners were Armco, grade iron ore reserves of the United Aircraft, Texas Com-recognised. Lake Superior region are fac-pany, Zenith, Superior Oil of Ing steady depletion, con- California and Sinclair OIL sequently the United States is

Dow Jones averages: #lready looking to greater de-

Stocks pendence on imported ore.

Government economists sald that Canada, Venezuela, Chile, Brazil, Sweden, Spain, Liberia, Spanish Africa and the Philip- pines are among the countries most likely soon to feel the stimulating impact of the ris- 630ing world need for iron ore.

90 110

two the

new paper 13

total than the

news- circu-

INSURANCES

Union DOCKS, ETC.

K. Whart..

Dockc ghai Dock Wheolook.. LAND, ETC.

EK Land

020

200

12.29 3.16

700 18

TILITIES

Tram

of the

of

Oils were mainly lower belation of the cause of profit-taking by specu-more lators who bought

in on the circulations of the two popers. tho New York strength of unexpected high Merger

dividende announced at the end Workd-Telegram and the Sun of the year.

de- Japanese bonda pressed by United Nations set- backs in Korea,

301 1920% closed nt The

the 1930s closed down, and at 58, down .

Gold mining issues were quiet, with some minor losses.

Financial Times' Index: 115.8. --Associated Press,

Anglo-Danish

Trade Talks?

Copenhagen, Jan. 4. Denmark is considering seek- ing trade talks with Brilain on ministerial level, informed circles here said today.

Since the devaluation of the Pound Sterling in September, 1949, trade relations between the two countries have deteriorated and the British trading policy has been repeatedly attacked by the Danish Press.

The influential Bnancial news- Fina Natidende declared paper today that Britain was regain ing her feet economically at the of the smaller European expense nations-Reuter.

Rescinding

Red

Trade Agreements

Washington, Jan. 4.

is a prime example.

The four meapa of saving, one or more of which may have to be laken, are:

FOUR POSSIBILITIES

I, Cul down advertising which had risen to 2.3 billion lines in 1049 from 1.2 billion in 1939. Even now some papers are rejecting ads, and others have gone into the gray market to get paper for their adver- lisers.

2. Cut down news content which

edged has

forward steadily since the war. This could be done by closer editing and more compressed writing

3. A combination of the

Bhai Lund, 1.15 1.25 500 @ 1.15

Star Ferry

C. Light (0) 5.00 6.20

C. Light (N), 315

C. Light (Banis

Sithric Electric INDUSTRIALS

Ropo **** STORES, ETC,

Dairy (N)

Watson

COTTONS

Ewo

10

1000 11%

500 11.

BOO @ 11.

000 11.

G

3%

✩ 3.00

114 3

1000 @ 5.03

21 100 @ 20

2.00

Japanese Ships

In Distress

San Francisco, Jan. 4. Paciße Far East Lines said today that two of its freighters were still standing by a pair of Japanese ships in distress in a typhoon 500 miles cast ΟΙ Japan.

The United States in October was already importing plg iron; from Canada,

20 Industrials 15 Rails 10 Utilities

Ext

No Fire Insurance will be effected.

DODWELL. & CO., LTD. 80.00

Arenis. 240.30 Hongkong, 31st December, 1909.

79,03 41.75

-A800ciated Press.

BANK OF

Germany, Aus ENGLAND

The

trin and the Netherlands. United States steel production

is now around 07,000,000 tons [STATEMENT

Sicel

companies

annually. have promised to step up to 112,000,000 tons as soon as 114,

and copacity may be installed,

requirements

all out defence

of free nations may bring the total eventually to 125,000,000 tons.-United Press.

Truman Mum

On

Controls

Washington, Jan. 4. To inquiries whether he will the law recommend changing

NOTICE TO

CONSIGNEES

**. “WAR HAWK"

Having arrived Hongkong con signees of cargo ære hereby notifed been landed that all goods have and placed at their risk and expense Into the godowns of the Hongkong and Kowloon Whart and Godown Co., Ltd where delivery may be oblazed as doon as the goods are landed.

No claims will be adzlited_after the goods have left the godowns. or failure to attend the survey.

London, Jan. 4. The Bank of England state- ment

All broken,, chafed, and damaged for the

week ending January 3, reads as follows:

goods are to be left in the godown Notes in circulation

where they will be examined in the £1,333,207,000 presence of Messrs. Goddard Public depoells

25 332,000 Douglas on the 6th Jan, 1951, at ID Private deposits

390.127.000 44.0 Government securities 344,046,000 152,000,000

Other securities Receipts

Bank ratio

43,487,000

103

United Pre Paris, Jan. 4.

and

General

withi the To comply Bonded Warehouse Regulations, consignees must have Ilevenue Uloer in attendance when examine ing damaged dutiable gooda. All

presented to the Undersigned within

The Bank of France statement claris against the vessel must be for the week ending Decem-fourteen days of the ship's arrival,

ber 28, rends as follows:

Total gold huldings Pro. 153,754,771,240 Total of other cur- rencies ****** Sight balances

abroad

POLARIT Advance to cur.

rency stabilisa- tion fund Bill discounted in

Franco abd Abroad

on food controls, President Tru- man told reporters on Thursday to walt for his State of the Union Message to be delivered in person to Congress on Mon- Notes in circulation

day.

Asked if rationing will be part of the anticipated complete con- trols, the President said that was a bridge to be crossed when the Government came to ft.

Repeated efforts to get lines two to reduce the size of news-aboard the two Japanese vessels papers which has climbed to an have failed, the skippers of the average of about 37 pages from Pacific ships radioed to thear 34 last year and 27 in 1946,

home offices. Both the American 4. Elimination of editions. freighters, the

Matthew Bock Each succeeding edition makes and Edward Luckenbach, said obsolete

the one which went they would stand by until the before it, causing some waste.

arrival of Wig Japanese Coast Elimination is difficult, how Guard some time today, ever, in highly competitive

The

number of crewmen ing the markets.

Bboard the two Japanese vessels granume was not known.-United Press,

Press,

CANADA CRITICISED John Hinman, President of International Paper Company, expressed the opinion of news- when he

Jap Banker Leaves

The Government mobilisation set-up meanwhile is concentrat- ing on driving defence output from the planning to the pro- duction stage. Defence mobliser Charles Wilson started crack-

whip on that pro- on Thursday-United

Haifa Shops May

Close Down

Print manufacturers

told a congressional committee earlier in 1950 that the serious

San Francisco, Jan. 4. Atsumi Iwasa. President of problems of the newsprint,

the Fuji Bank

Hala, Jan. 4. manufacturing business

of Tokyo, left come

San Francisco this morning on foodstuffs hero may

Importers and wholesalers of mostly from the irregularity

decide to Pon demand. Owners of Canadian board

American plane close their shops and disrupt Six resolutions were intro-mills were criticised for "wild to return to Tokyo after a two- the distribution of supplies, a

the opening day of

over-expansion"

they month business tour of the the now Congress to favour the had an average idle capacity of

Unlied States

Associated Spokesman of their union said of foreign trade

here today at a Chamber of rescinding

more than 1,000,000 tons a year Press, with Communist |

Commerce meeting. agreements

trom 1935 to 1945. "The de- controlled countries.

of mand nowspaper publishers.

duced on

whea

it does on

In addition, Democratic Re-he said, "cannot be accurately presentative Donald O'Toole in troduced resolution to suspend diplomatic and commercial re- Iations with Hungary.

Republican Representative John Hoselton Introduced a re- solution asking for an investi- gation of

the enforcement of export policies and control re- gulations-United Press

forecast, resting us advertising, which in turn rests

upon the business cycle."

Canadian International Paper Company, the world's largest producer, to meet demand, boosted its production to 788,000 tons in 1949 from 544,000 in 1945, an Increase of 40 per cent. has come about This increase partly through stepping up existing facilities and partly

New York Sugar through now building.

Market

New York, Jan. 4, Domestic sugar futures No. 0 closed one higher to three lower

March May July September

Japanese

Wholesalers who complained

Bonds their benefits have been reduced

Advance

New York, Jan. 4. Foreign dollar bonds general- ly were a bit lower today.

However, most Japanese issues advanced, with City of Tokyo 54 adding 35 at 455- Associated Press,

Exchange Rates

from ten per cent to three per cent during the past two years, accused the Government of try- ing to eliminate them alto- gether.

They say that for 12 months no reply has been received to

asking for Router,

or they will not be recognised.

4.483,220,001

101,030,530,154

No fire insurance will be effected,

WALLEN & CO., LTD. Agents, Telephone 38041-5. Hongkong, 2nd January, 1031,

131,100,000,000

427,220,771,002 NOTICE TO CONSIGNEES 1,560,061,200,470 -United Pres

Selling Pressure In Chicago

Chicago, Jan. 4. A slight rise in selling pres- sure toward the close left most grains with all tosses. Corn, however, ended higher.

The market opened in a bursi of commercial house buying, but this demand failed to fol- Tow through and in the Anal 15 minutes selling became generul. Wheat closed tower to 15 higher,

March

$1.40%-42 May

10.43%+14 July

$3.41-$3.40% Com was -3% higher. Oats were 34- lower, Rye was 11e11; lower. Boybeans were 32-134 lower, Associated Presa.

Ruhr Steel Production

letters to the Ministry of Trade Shows Drop

profit.--

Seeds And Oils ped more than 150,000 tons In

In

JA

was a

14. "ANTILOCNUS"

Damaged carga ex this vessel will be surveyed at Holt's Wharf bo- tween 10 am. and noga January and 8. 1081, and consignees are requested to have their representa- · tives present during the survey.

BUTTERFIELD & SWIRE, Agents.

Hong Kong. 8th January, 2001.

R.I.L.

ROYAL

INTEROCEAN

• SINGAPORE JAVA PORTS and

MACASSAR

"NIEUW HOLLAND"?,

**TIITJALENGKA” "VAN HEUTSZ"

"TJISADANE? "TASMAN".

+

to Singapore & Jaya,

ARRIVALS

Port

In

7th Jan.

LINES

SAILINGS 22nd Jan.

9th Jan,

11th Jan.

10th Jan

22nd Jan.

27th Jan,

..23rd Jan,

29th Jan,

only to Singapore, Penang & B. Dell. *only to Singapore,

O MANILA, EAST &

SOUTH AFRICA and SOUTH AMERICA "RUTS" "BOISSEVAIN" "TJPANAS" "TJMADAK”

8 via Japan,

O JAPAN

"BUYS"

**TJIPANAS"

"BOISSEVAIN"

ARRIVALS

19th Jan, 27th Jan.

28th Jan

SAILINGS

16th Jan. 9th Mar, 10th Feb.3

ARRIVALS

SAILINGS

.15th Jan.

10th Feb,

7th Mar.

↑

21st Jan,

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"MARIEKE KO

"MELISKELKY

"AAGTEKERE”.

Through Ba/L ligued to Mediterranean and Northern European Poris.

• JAPAN

ARRIVALS

SAILINGS

11th Jan,

Mid Jan 4th Feb.

10th Feb, Early Mar.

ARRIVALS

"MARIEKERK” *MELISKERK" "AAGTEKRIK”

8th Jan 9th Feb.

SAILINGS

Mid Jan,

....... Early Mar.

8th Feb.

AMERICAN PRESIDENT LINES

The Globel fleet.

· ST. GEORGE'S BLDG.

PHONE 28172/5.

TO HONOLULU AND SAN FRANCISCO via JAPAN PRESIDENT CLEVELAND PRESIDENT WILSON

Arr. Jan. 13 Balik Jan. 14 Arr Feb. 4

TO SAN FRANCISCO AND LOS ANGELES vía JAPAN PRESIDENT MCKINLEY

Arr. Jan. 12 Sails Jin, it

TO NEW YORK, BALTIMORE AND BOSTON via PACIFIC COAST AND PANAMA MARINE SNAPPER

Art. Jan. 20 Salin. Jan. 21

ROUND-THE-WOILD Via Maulla, Singapore, Colombo, Cochin, Bombay, Karachi, Suer, Port Sald, Alexandria. Naples, Marseilles, Genos, New York & Boston. "PRESIDENT HARDING"

Arn, Jab. 12 Balle Jan. 12

The wars our generation has witnessed have brought what wars have always brought disturbances, unreat 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 where diplomats seem to fall. For, when all is said and done, people want the opportunity to work for a living. Trade and industry, free and untrammelled, not only con tributes to that opportunity, but is a way of life. Vessela of our Line are plainly marked and can be recognized easily when they sall in and out of the principal ports of the world, and we like to feel that they are practical symbols of this philosophy: Iébrandtsen

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

Bonn, Jan., 4. Ruhr steel production drop-

December because of shortago of coke, the West German gov- FROHIBITIVE COST :

New York, Jan. 4. erament announced today, Busines we done in the locat Prices in the seeds and oils With the cost of an economie- ocial

Ruhr production boomed after exchange markob

this market here closed today un- the Korean ally-sized newsprint mill-one morning at the following rates

war began and producing 300-350 tons a day-U.S. dollars (per 91) 6035 exceptions:

Sterling note (per £) .......:15.40 changed with the following reached its peak in October. S.S. "FLYING TRADER" running around $40,000,000, few Indonesia guilders per 1003..

November there Flax Seed, per bushel, F.O.B, slight decline of 24,000 tons in Slam cala (per 100) companies will consider building, Singapore (Straits),

20,30 Minneapolis Before such plants.

4.30 United steel production to 1,111,988 plastres (per 1001 such a mill cost about $20,000,- 000, M Most of the increase in capacity, consequently, Is coming from the speeding up of existing facilities. Fear of war-induced materials shortages is another 635 nominal deterrent to construction. Asociated Prem

5.37 bid 6.50

0.43

1.60

World sugar futures No. 4 closed one higher to two lower, March

3.47 bid

Moy

July

September Naw sugar spot

0.47

8.46 BAT

NEW YORK BANK QUOTATIONS

New York, Jan. 4. Closing bank quotations:

bid asked 2534

Bank of America Chase National National CUT

27

Associated Press.

wor

the

Nevertheless, one new mili lo now being built by the Elk Falls Company on Vancouver Island do British Columbia. With planned capacity of 75,000 tons, it is scheduled to go into production by Dec. 1, 1952.

Robert M. Fowler, President of the Newsprint Association of

Natural

4.70

1513

11.70 Press.

Rubber

Price On Decline

In

Singapore

Singapore, Jan. 4.

3512 374 Canada, told United States The price of natural rubber has been sinking

40% publishers recently that 11

"economics are right."" the here since the United States Government decision Canadian industry can increase to take over purchasing of the commodity. its annual capacity by 200,000 tons a year for a good many years merely by speeding up existing machines. United Prest,

Exchanges In NY

New York, Jan, 4.

Foreign exchango:

Canada

Britain

Belgium

Holland Switzerland

04.31% K200 3.00

26.20 23.34

-Amociated Pres

SILVER PRICES

"How York, Jan. 4. -

Silver, per ounce as quoted by, Monera ilandy & Harman, bo cents

United Free,

Metal Market Prices

Now York, Jan., 4. Prices in the metal market

tons. But In December the total slipped below the million moric to "95,839 tona-Ass clated Press.

Textile Workers Get Bonus

San Francisco, Jan. 4. Peking Radio reported last nicht that the Peking Govern- ment had appropriated a special bonus totalling 500,000,000 Communist dollars to establish amenities for textile workers.

This

was in acknowledgement by 16.23 per cent of

them by the State in the middle of last October, the Radio said. -Reuter.

ment of their successful over-fulfi- special production targeta set

NOTICE TO CONSIGNEES

First grade January shipment has lost 14% up its rubber buying polley.

rubber for the US Government in setting t Straits cents a pound, falling | Quoting

usually

rollable from Straits $1.00 on Dec. 28 market sources in Singapore, to about Struts $1.78

today. the paper sald However, the price is being such mover is already contribut

anticipation of supported by fairly large United ing to the remarkably steady Kingdom and continental Europe behaviour" of the rubber market orders, and come UB. orders here---Associated Press, boing placed pending introduc- tion of official

purchaso machinery.

The Singapore Standart

here closed today unchanged dicted today that placing a pur- closed 2.00 tower de

with the following exception London, Jan, A.

Tin, Grade A (09.30 percent

Silver, Spot per fine course Bivšo, Tammi, per me cubon 700,

or higher) New Losk, per 1.

* ... 107. Delta Pro

ļas, “şın 19MN FRANKLIN" Voy-1

LE "ILTING CLOUD

Voy--10

NEW YORK MARKET Consignons of cargoes: Dotsigiedi

New York, Jan. 4..

to Norin. Chins porta un subject vemote are hereby advised" that ail Gruda rubber No. 1 futures | such cargoes have been discharged at Dotribey, all ktoregs expvores old. July Ave 47.00 bid to be account cargo.. Spot No.4 ribbed sinoked for April, May and June will be sheeta 60 montinalamoclutna p

DAJ PU PATTISON – among the firm actions taken by Prom. mutt

chase calling of 10,000 tone of rubber a month and fbeing prices

DUE FROM: SAILS FOR: New York via Kobe, Nagoya, Yokohama, San Manila Jah. Francisco, Los Angeles, New York, Baltimore, Philadelphia, Boston via Panama Canal. Jan. 19th

18

S.S. "SIR JOHN FRANKLIN" New York via

S.S. "FLYING CLOUD”

Manlia tast week of Jan,

New York vin

Manila 10st week of Jan,

Pushan, Kobe, Nagoya, Toko- hama, San Francisco, Los Angeles, New York, Baltimore, Philadelphia, Boston vla Panama Canal, Last week of Jan,

Kobe, Nagoya, Yokohama, Sag, Francisco, Los Angeles, New Yerk, Baltimore, Philadelphia, Boston via Panama Canal. Last week of Jan.

(Transhipment cargo accepted for Jamaica, Havana and other. Cuban Ports, also Venezuela.)

LIMITED PASSENGER ACCOMMODATION AVAILABLE

· Above Dates Subject to Change

For Information Apply to:

A.P. PATTISON & CO., INC.

GENERAL AGENTS: CHINA, FORMOSA KOREA, JAPAN AND HONGKONG.

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

Tel: 25816

CHINESE AGENTS;

OVERSEA CHINESE STEAMSHIP CO., LTD.

ING.

48 Bonham Strand West Art