1951-01-10 — Page 11

Spending More Britain

For Less

London, Jan. 9. Britons греді мого money in the third quar. ter of 1930 than ever be- they fore in history---but

did not get record quanti. tlem for their record spending,

The British Govern- of meal's monthly digest sintiation disclosed this today. Spending went up to £2,287 m' Hon.

The

previous record was 248 milion in the

£2.

last

quarter of 1049.

of

1948 prices;

Reckoned in terms'

the

Latter figure WAN worth £30 million less than the ear-

ller record, the digest salu. -Reuter.

BRITAIN CALLING

FOR TALKS

ON WOOL

Washington, Jan. 9. United

States Government experts told the United Press tely that Britain is anxious to have an international wool con- ference in Austrails about the end of this month, but Australia 19 apparently against this Idea

at present.

Rubber

OVER TAX

R. G. L.

Considering Ban On PROTEST Shipments To Wall Street ON COTTON ROYAL

Russia And China

London, Jan. 9.

Informed sources said tonight that Britain is considering a ban on the sales of rubber to Russia and China.

Surges To A New High

Manchester, Jan. 9.

A strongly worded protest against Egypt raising her export tax on cotton has gone from the International Federation of Master Cotton Spinnors to the Egyptian Finance Minister, com- mercial sources here sald today. New York, Jan, 0,

They said that Manchester In the midst of a Washington manufacturers' associations bad debate over higher taxes, the also protested. stock market surged ahead to a The tax increase to £3 ster- But they said that such a move would be conditional on a general

1950-51 and the ling for 220 lbs. of cotton was new high for agreement with the United States, France, the Netherlands and other free best level in

than

20 announced In Cairo two days ycara. Gains ranged from frache proles: contended that the countries to place a share-out of rubber under closer supervision.

lons to more than two points.

The market bounced British officials belleve that growing shortages of just about every obstacle out in heavy losses to spinners holding over move wouki cause Immediate

one of the vital ráw. niaterials. for roarmtats path and lost only a portion would also cause immense i

collon.

rubber,

FIRM TONE ment,

ON LONDON EXCHANGE

London, Jan. 0. The Stock Exchange was mainty Armer today on COM. tinuation of recent investment and speculative demand for first grade Issues,

Some

bonds of a point

Government j were a quarter

higher and improvements were shown

most Industrial Kroups.

J

Motor shares, however, were hesitant in later stages of the clay after it was learned that many companies will start + week because work The United States has neither four-day.

of a sheet metal shortage, received nor requested an in- vilation

Oils a conference

advanced and fold to such

in view or and does not plan to start any shares were firm

recent Ilses

free in initiative In the near future.

Kolo priers.

dis-

They believes that an inter- national wool conference may be held later this year to cuss allocations and price cell- ings, but thought it more likely to come after the present wool season in Australia,

The experts

Shipping shares made further Financial Times Index: 118.1.

advances.

-Associated Press.

PARIS RUMOURS

London, Jan. 9.

more

20

It

tion of future supplies in line with other scarce raw the final hour, when profit-tak- long-term damage to producers ing appeared in considerable and spinners of Egyptian cotton materials.

volume.

by giving impetus to the manu- Steels, motors, rails, aircraft facture and sale of alternative and airlines led the advance. fibres.

Transfers

The Federation urgently were 3,780,000 share a million more thanquested a reconsideration of the

Unless such an agreement is renched it would be difficult for Britain to stop rubber sales to Russia unilaterally, because it would amount to imposition of sanctions. Moreover, Russla would still be able to get sup- plies from sources' outside the

British Commonwealth.

One handicap in controlling rubber exports to Iron Curtain countries stems from the fact that the British Commonwealth

HONGKONG

SHARE

MARKET

Monday.

Among the gainera were Bas- ton and Maine, Baltimore and

tax. it was learned-Reuter.

Ohio, Pepsicola, Curtiss Wright, S'pore Rubber Up

Eric Railroad, Douglas Aircraft, Zenith Radio, Western Union and United Airlines.

The twelfth most active stock

chuet Mining-closed

at 1-1/2. of business on The volume

Dow Jones averages: of the the Stock Exchange this

Stocks areas, morning was valued at $170,-

977.50. The half day's business 20 Industrials

16 Rails and noon closing rates were as

10 Uшlitico follow SHARES BUYERS SELLERS SALES

.. 1200 1250 50 1220

51210

controls less than half world rubber producing and Russin and China might therefore be able to buy ele- where if Britain cuts her sup- piles. However, it is believed that up to now, substantial Russian rubber purchases have come from Commonwealth sources, including Britnin

Ofelal trade figures disclosed that Britain's re-exports of raw rubber to Russia between January and the end of Novem- ber last year were 22 times the quantity of the previous year.

BANKS

UK Bank

Enst Anta INSURANCES

Union

103

020

30 23

50 x 625

20

020

Fire...

DOCKS, ETC. K, Whort Dock Shal Dock Wheelock LAND, ETC.

HK Hotel HK Land Shal Land UTILITIES

Tram

Star Ferry C, Light (0) Electric

rubber

Singapore, Jan, 0. First grade Malayan for January shipment changed un-hands at Straits $2.09 a pound, an increase of 20 cents in two days, Associated Press,

09.80. 243.50.

79.75. NOTICE TO CONSIGNEES 42.04.

--Associated Press.

Rubber In

London

London, Jan. 9. Prices in the rubber futures nrket 450 closed today os follows:-

March

Aprli/June July/September

30-14 50-52-

56-56-12

53-53-42

50-50-44

04

1216

3.00

30

0.00

No. 1 rubber. (In cents

1.09

per lb.)

13-14

February

10 10.50 500 10

2009 70

0.000

Telephone any INDUSTRIALS the

Cement Rope STORES, ETC.

Dairy

20 21 300 @ 20%

211

113 12

000 12

30 11

400 10%

200 € 1014

400 0 0.4

2014

311 2.50

They amounted to more than 10,000 tons

ons compared with 500 tons during the same period in Gold shares were active to-to the Soviet Union rose from 1949. The value of these sales day on signs of worldwide

£67,052 in 1949 to £2,230,429 gold-hoarding as well as on a Pnels theory" that the United last year. This exceeded Bri- States may suddenly terminate tain's rubber exports to

other right

Toreign of

country, including United States, dollars convert their dollars into gold to withdraw gold. and theory was ridiculed here bui it does seem to have come cur- renry among agitated men property abroad.-United Press.

said Australia apparently feels that the inter- national wool glady group, In London should decide when the new conference should be call-the ed. This group has a stand-by owne plan for wool allocations if they prove necessary, which could serve as a basis for an agree-

ment. They understood that

some OEEC nations have asked to take the US. Government this maller up with the chief wool exporters and importera.- United Press.

Black Pepper Futures

of

to

The

of

RUSSIA'S SHARE

Malaya, chief rubber supplier of the Commonwealth, sold to the Soviets last year one-tenth of Its entire annual production of some 680,000 tons. The Mala- yun Information Ofice said that Malay exports of rubber to the Soviet Union last year were 68,- 058 lons.

Bridges For vi exports of

day

Formosa

said rehabilitation

alist governmen

of

In addition to rubber, Russia also has been a large-scalo buyer of wool on international markets and has been purchasing more than pro-war from British

Dairy (N) Watson COTTONS

Ewo

11% 500 11

Boost In Wage

Shipyards

October/December

-United PreSË,

NEW YORK MARKET

New York, Jan. 9.

Crude rubber No. 1 futures

closed 3.05 higher.

July 57,05 bid,

Spot No. 1 ribbed smolced sheets 75 nominal---Associated

Press.

LONDON TIN

MARKET

*. "IR JOHN FRANKLIN" Voy-12

1.1. "FLYING CLOUD" Voy-10

Consignees of cargoes consigned to North China porta on subject vessels are heteby" advised that all such onrgoes have been discharged at Bombay, all storage expenses etc.

to be account cargo.

A. P. PATTISON & CO., INC. Agents.

INTEROCEAN

• SINGAPORE JAVA PORTS and

MACASSAR

"NIEUW HOLLAND"‡.

"TIITJALENGKA”

VAN HEUTSZ" •* "THISADANE” "TASMAN"*

# to Singapore & JaVA,

ARRIVALS

LINES

SAILINGS.

22nd Jan, 12th Jan.

In Port

Jn Port

12th Jan.

18th Jan.

22nd Jan.

24th Jan,

21st Jan.

28th Jan,

only to Singapore, Penang & B. Dell,

•

..

only to Singapore,

MANILA, EAST &

SOUTH AFRICA and

SOUTH AMERICA

"RUYS" “DÕISSEVAIN” "TJIFANAS”

"THBADAK”

#vla Japan.

JAPAN

"RUYS"

"TJIPANAS"

"BOISSEVAIN"

ARRIVALS

. 19th Jan,

27th Jan. 28th Jan.

ARRIVALS

14th Jan.

SAILINGS

16th Jan, 9th Mar,

10th Fob.g

SAILINGS

7th Mar.

. 10th Fob, 21st Jan,

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

“MARIEKENK"

"MELISKERK"

“AAGTEKERK”

Through B/L issued

to

Mediterranean and Northern European Ports.

• JAPAN

"MELISKERK” "AAGTEKERK”

ARRIVALS

.In Port .11th Jan, 4th Feb,

ARRIVALS

0th Feb, Early Mar.

SAILINGS

10th Jan,

10th Fob. Early Mar,

SAILINGS

10th Jan

8th Feb.

KINGS BUILDINGZCILERRONESTIRE MEJORA801796

ECON

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 where 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 untrammelled, 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 sall in and out of the principal ports of the world, and we like to feel that they are practical symbols of this philosophy: Isbrandtsen of the official morning session

London, Jan. 9. The tin market opened steady with strong demand for San Francisco, Jan. 9. cash tin which absorbed 120 West coast shipyard owners tons at prices from 1,185 announced today they were sterling to 1,175. Turnover Russia is paying for her ruberanting SOME 25,000 yard was 125 tons. she gets by supplying Britain increase. ter purchases in sterling which workers a 12-cent hourly wage Prices close today of the end

Commonwealth sources,

1.375

1.180

1.109

1.175

United Press,

Price In

Washington, Jan. 9. The

Economie Co-operation Administration announced to- New York, Jan. 9.

That the United States Black pepper futures closed would ship 50 tons of Japanese- today inactive and nominally made bridge spans to

to Formosa

with grain and timber. A new The boost followed a break- as follows: unchanged to 5 cents a pound ns part of the railway re-

grain deal was concluded last down in wage negotiations last Spot tin, buyer higher. The spot market was construction project there.

year

deliveries ECA

to cover

this Saturday after the workers, re-Spot tin, seller quiet with dealers reporting n

Three-months th, buyer presented by the Pacific Coast Three-months in, seller tight situation in spot and the Formosan ailway system year.

con- Metal Trade Heretofore, the British

Council, turned Settement nearby supplies, following the was "vital to the development

has been tention

that raw down an offer of six cents and of the island recent absorption by grinder of the economy Interests in meeting Govern- bastion of the Chinese Nation- materials such as wool, cotton clung to their original demand ment orders.

and rubber are not essentially for 19 cents. and added

their purposes and had been for war given the highest priority in supply should therefore not be the ECA Pacific programme.

stopped.

But the present shortages and The 50 tons will cost $220,-

of raw materials, Press. 000 and will be used to replace stockpiling the most seriously damaged

including rubber, have given to calls for international bridges

Al-res on the island. together $3,500,000 In ECA measures of control of produc- funds will be spent for Fortion and allocation within the

Western

world. If

rubber is included

a scheme its in such sales to

Iron

ron Curtain areas would probably be stopped by Britain. The question of raw

"The Army Quartermaster an- nounced an additional award on the purchase of 230,000 pounds of ground black pepper for the United States army and air

forces.

Prices closed today as fol- tows:-

January (1951)

February March

May

Zinc

1.77 asked

1.63

1.65 nominal 1.50

United Pick

Stocks At Low Level

New York, Jan, 9. Continued heavy consumption of zinc, even with production climbing, has brought smelter stocks of the strategic metal to the lowest level in more than 25 years, the American Zine Insti- tute reported.

that

the

rehabilitation railroad mosan this year. United Press.

Restrictions On materials control will be con-

Car Makers

London, Jan. 9. Many British car manufac- turers will be able work only a four-day week from next imports of fallen and Monday because sheet sice! bave because of rearmament,

the

Society of Motor Manufacturers announced today.

This quarter's supplies are the being seriously reduced, Stocks at the end of Decem- Society said in a statement here. ber were 8,062 tons compared Output might drop by 15 to 20 with 9,255 the previous month, perccent from last quarter's and lowest since November of timated output of 140,000 cars 1025 when the total was 0,922 and 65,000 commercial vehicles. tons.-Associated Press.

-Reuter.

Silver And Gold

Prices

Soaring

On New Demand

New York, Jan. 9.

The prices of silver and gold have taken a leap upward. Soaring demand for both metals,

Company spokesman said the 12 cents was given on a volun- tary basis and would go into Jan. 16.-Associated effect on

Bye

CHICAGO GRAINS

2.4036

7.4014-7% *2.474-11

2.4115-15 2.433-15

1.791

X-794-36

1.704-14

Sugar

-New York

New York, Jan. 9.. Domestic sugar futures No 6 closed four to nine higher. March May

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

S.S. "FLYING TRADER"

DUE FROM:

Now York via Manila Jan. 23rd

New York via Manila last week of Jan.

5.72 bid.

5.73 bid.

S.S. “SIR JOHN FRANKLIN”.

July

5.70 bid

September

5,78 bid

World

No 4 sugar futures closed, four to seven higher, March

May

5.08 bid

5.02 bid

5.62 bild

S.S. "FLYING CLOUD”

September

5.02.bid

New York via last Manila wook of Jan,

March

5.291nominal

€33' nominal Associated Press.

Haw sugar spot

Foreign Bonds

1.7724 Mixed In NY

1.7034-1.00 1.3214

Chicago, Jan. 9. sidered in Paris later this weck Prices in the grain futures by the Organisation for Euro-closed here today as follows :- { July pean Economic Co-operallon.— wheat price per bushel, United Pres.

Spot December March (1951) SHIPMENTS TO U.S.

May July New York, Jan. 9. Com Many thousands of tons of Spot crude rubber from Southeast Decembe

March (1951) Asia are expected to begin arriv-|ky ing soon in US. ports as the ty Government asked the rubber

from December

New York, Jan. 9. industry to move stocks

May (1931) producing areas as fast

Qata

Forelan dollar bonds were possible.

March (1951)

mixed in today's trading with Spokesmen for large rubber New York four per 200 lb. ck Australian and. Canadian issues priced lower and Danish louns companies here confirmed that $13.05.-United Frem.

crude

strong. stepped-up shipping of rubber was getting under way as a result of the Government decision of Dec. 29 to become the sole purchaser of the commodity but they were una

unable to produce figures concerning stockpiling activities because these

classifed and subject. considered

regulations. security Rubber industry circles point-

to

were

Abaca, Output Increase

ས

Manila, Jan. 10. Abaca production In the Philippines for 1050 showed very substantial increase of ed out, however, that imports 238,213 bales over that of

1040

for stookpiling would run con-

according to figures

given by

sklerably higher than normal given the Rehabilitation shipments, which thus far have needs,

been

Japanese istues

were mixed. The best performer was the Great Consolidated Electric Power Seven, .which gained '30 at 500,-Associated Press,

Wool Auction Prices Up

Early

reared only to meet current Finance Corporation Chairman, wool auction today were even

production

ve

spocial

They Government

asked that this effort be

made in January

Lin

or February.

In 1940, fals

general Services Administratie significant that the production Wales

Mr Mapa said it was

announced that the object of the

as a sideline to the rearmament programme, was down the time lag la shipping the Abaca production fer 1950 given as the cause.

Sydney, Jan. 9. prices at the Sydney said Mr Placido L

higher than yesterday when the was 613-price level claimed 20 per cent 720

walle in. 1950 the over December, bales, totol was 752,933 bales of

The best early price was 270 In Washington, Mr W. Larson, abacar equivalent to 1,805,000 Australian pence, which WILE

piculs.

sixpence below the New South record high for greasy of merino accelerated Imports was to cut increase followed 'ddoption

fleece. Associated abaca financing program- Press. arrangements following the Government's emergence as the provided income of 90,000,000 NEW YORK, BANK South

only burying agent. According to pesos for the country and Africa is restricting the enle of her gold, and the Mr Larson, the Government's an export product it was our Belgian Congo has rained. Its decision was based on a desire passed in value only by copra price to $4323 an ounce, for to avold a rise in rubber prices and sugar, two leading dollar

carnera United Press. United Press. total jump of $8 since DecTM 30. now got substantially as much price of liver and commercial ended a stalemate for their motzl in the commer cial market as they can at the in the market, where foreign

Silver in a ten-cent an ounce Jump on Monday is now sell ing at the highest price in 30

years.

Domestic oliver miners, ' carv

allvča mostly

becau

:

Copper

Futures

Exchange Rates

"EXCLUDES

00

this

from Mexico US. Treasury, which has been had been the sole source been

Bodhi pustnem was flors try, the tool)

market trothiotal bring up their entire output domestic silver all went

Now York, Jan, 0. the for youre at the Congressionally Ugurerary

Copper

closed futures

20 morning at the following ratow

Sterling note, (pert)... est price of 90% corria.am ounce,

fuppliers of foreign üliver to-higher to 10 lower." Gold' 'ti 'up another $1.50 ad fused to well any longer at the March QUDOD on the world's freo 90 cent price in effect "exico May rosckota.

25.75 bid Indonesia"guilders (per 100).

Been tickle: (por "100)" 20,75 bla gigapore (Biraits).

FILMTen (per 100)

mAssociated PrUM,

QUOTATIONS

New York, Ja Closing bank quotations;

Bank of

America

* 2515 bid, #73% woked Choc National, 90% bid, 3314, asked

„Pasoolabed From.

Nat

Exchanges In NY

-New-York, Jon-

sing' foreign,

*

SAILS FOR:

Kobe, Nagoya, Yokohama, San Francisco, Los Angeles, New York, Baltimore, Philadelphia, Boston via Panama Canal Jan. 24th

Fushao, Kobe, Nagoya, Yoko- hama, San Francisco, Los Angeles, Now York, Baltimore,

Boston Philadelphia,

via Panama Canal, Last week of Jan,

Kobe, Nagoya, Yokohama, San, Francisco, Los Angeles, New York, Baltimore, Philadelphia, Canal, Boston via Panama 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.

Tel: 25846 12-14 Queen's Road Central 4th Floor.

CHINESE AGENTS:

48 Bonham Strand West. 1st Floor.

OVERSEA CHINESE STEAMSHIP CO., LTD.

Tels: 26127 & 31119.

Pacific For East Line, Inc.

Fast Rogular Trans-Pacific Service

OVERLAND

NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES

DIRECT

BAN FRANCHICO,, LOS ANGELES

Vemal

From

·Arrivos,;"

salta.

San Francisco San Francisco

Jan. 18

Jan. 17

Jan. 19.

·Jen. · · 19

Atralia

"CALIFORNIA DEAR" "PHILIPPINE "BRAR", ~BAN'ANGELO · VÍUTOBY"

**J. L. LUCKENBAC

FINDIAN DEARS.

Feb,

Jan. 30

Teb. 0

For

San Francisco & Los Angelos Singapore, Djakarta, Colombre, Bombay, Karacht de Bera Ban Francisco, de Los Angeles

vin Japans

Bingapore, Djakarta, Dubay,,

Katif de Baraki. **

Via Robe

| Den Francieço de Leon Jungeles