1951-01-12 — Page 11

Anti-Hoarding Measure

Washington, Jan. 11. The United States' today rado it illegal to board supplies of natural ΟΙ synthetle rubber.

The Nations! Predaction authority added rubber to the materials subject to anti-hoarding provisions.

Other

items were; dustrial

eibyl, alcohol,

vinc dust and

and these textile

materials:--burlap

1

(hen-

sian), cotton pulp, high tenacity rayon yarn and

nylon staple

and nylon

Alament yarn-Heater.

Bulk-Buying Contest In May Develop Between America And Russia

(FROM OUR own corrESPONDENT)

London, Jan. 11.

Rubber

Malayan Tin

L.

Hits A New R...

NEW YORK High Level

COTTON MARKET

Heavy Buying From Europe Reported

Singapore, Jan. 11. Malayan tin skyrocketed New York, Jan. 11. to a new-all-timo record The diminishing fears of imprico high today of $666.- mediate price. control action

at one time it Following yesterday's rise in the price of rubber touched 58, 4d, a pound -London rubber dealers are wondering whether and the strength in the stock 50 (Straits) per picul.

market combined to send cot-

The price, which has risen a "bulk-buying contest" between the United States and Russia is begin-ton futures sharply higher 111

the last half-hour.

the past two The final steadily over ning to develop.

trading

carried nearby March over Wednesday's closing,

weeks, jumped $25 (Stralto) It was suggested this morning that the recent contr

contract to 41.18 cents ង the highest

The highest previous figure heavy purchases of rubber by Russia may be a pound,

level in recorded was $042 Inst Nov. 8. cight years in the history of sign that she is alarmed at the American decision the New York 'Cotton Ex-

Brokers reported, good all- Russia may change.

round demand for Malayan tin, to bulk-purchase the commodity.

with heavy orders especially from continental Europe and South America. Associated Press

Wall Street AMAZING

Recovers

fear she will be squeezed out of the market. BIDDING

Lost Ground IN WOOL

Amazing Display Of Strength

New York, Jan. 11. The stock market leaped ahead today in an amazing display of strength and established a new 1950-'51 high.

the

Sydney, Jan. 11,

at the

The world record price for greasy Merino wool was broken five times today in an astonish- ing bidding sequence Sydney wocl auction.

ใน A new record

of 30% Australian was reachen twice in the first per pound

half hour of the sale.

pence

Earlier in the session, prices ranged up to 207 pence. 200

The previous record high was

pence set in Geelong

Prices recovered all ground lost in Wednesday's Nov. 10. severe slump-and more.

Gaing

ranged to $1 and $3 a share among leaders, and some cases much higher.

Superior OIL of California jumped $25 to $300.

market

Од average, the again stands at the highest level in more than 20 years.

Inflation

psychology, plus

pener feelers

renewed Korean

in the United Nations backed by the British, were taken into account by brokers in explain- int the upsurge of prices.

The

On

record-breaking prices were paid for extra superfine wool from Yass and the New Zealand districts,

An Australian record high of 223 pence

for per pound comeback wool was pald today at the Albury auctionAs-

ociated Press.

INCREASE

IN

PRICE

Reports that the British, American and French Governments have approved a scheme to allocate supplies of scarce raw materials — including rubber -may also have prompted Russian buying.

US Silk Import Increasing

New York, Jan, 11. Final figures from the Silk Council American showed that 1950 raw silk Imports fotalled 71.412 bales, compared with 29,- 000 bales in 1040. In December 5,817 bales were received, including 4,823 from Japan, 1,008 from China and 121 from Italy. Stocks on hand on Dec. 31, 1950 totalled 11.587 838 another bales with bales on the pier. Estimat- cd deliveries of raw during 1950 including exports amounted to 67,- 214 bales, compared with 36,561 bales in 1949,- United Press.

OF CEMENT Allocation

Just before the close, there W13 N big forward push that gave a sharp lift to falls and Prices of British radio television issues.

ordinary

and rapid burdening Portland coments have been raised by 45

This is to cover the a ton.

cement and

عائد

Of Defence

Contracts

ro.

The tape was latent thef close. Transters were 3,490,000. cost

Among the gainere were Pep the Continent of

selling imports from sicola, Baldwin, Lima, Balti-the more and Ohio, Hayes Manu- cement clinker this year.

The increase is announced by facturing, Standard Gas and

the Cement Makers' Federation, who state

that imports will conform to British standard 90.44 specifications and will be re-sold contracts last year but only one-

same prices as British

Electric.

Dow Jones averages: Stocks

20 Industrials

15 Rail

10 Utilitie

244.72 at

the 80.67 cement. 42.09 Virgin aluminium In Ingot Aroclated Press form will cost manufacturers

HONGKONG SHARE MARKET

The volume

3.3 per cent, mort. The Ministry of Supply announced that the price would go up from £120 to £124 a ton. This would apply only to metal of a purity of 99 per cent. to 99.5 per cent.

The price change, due to a rise in the cost of supplies. would have a "negligible effect"

the be

11.

Washington, Jan. Small Arms got nearly three- fourths of the nation's detence

Heavy buying by Hongkong and Tokyo has also contributed to the new rise in the price of rubber.

to.

The background factors in the rally included the aiding rumour that the E.C.A. shortly would allow cotton purchase followed the Spain, this Announcement Agency had granted $1,000,000 credit to Australia with

to contracting begin

оп Запцату 17. also traders understood that the country by country breakdown of the remaining 600,000 bales of cotton for export would be announced on Friday.

44.20

NEW YORK RECORD

New York, Jan. 11. Sales of grade A tin were ro- ported at $1.70 a pound here to- day-five cents shove the top quotation on Wednesday and a new record high.

The market closed, howover,

caalet at $1.73, reflecting on closing trend than in the pace- setting London market-Asso- asciated Press.

Meanwhile London rubber traders are sill discussing the

The market opened up 11 to possible effects of the American 20 points and closed up 6 to 34 decision to centralise rubber

points. Prices closed today buying.

follows:- Spot Lewis and Peat Limited Bay March 41931) that as far as can be ascertained, May the United States Government July

October has not yet commenced nny

December serious buying.

March (1051) May

Ira tils connection they may It was reported an average of some 75,000 tons per month will be bought.

ONE ESTDIATE

44.10 - 44.12

43.60 43,68

43.24-43.30

LONDON MARKET

London, Jan. 11.

The tin market had a firm and

40.22-40.23 active morning session today. Turnover wD3 210 tons, including 125 tons for cash,

30.01

30.06 39.40 -United Prem.

NEW ORLEANS MARKET

Spot

March (1951)

May July

The American fiscal year October ends on June 30 and It is thought December that purchases will be limited to May

March (1952) the first half of the year/after which new funds will be made available for further operations.

According to males, the United States Gov-

reliable esti-

Closing rate January 11 44.18 44.10-44.11 43.04 - 43.08

Prices closed today at the end of the official morning sesalon

ROYAL

INTEROCEAN LINES

• SINGAPORE JAVA -PORTS and

MACASSAR

"NIEUW HOLLAND"‡.

**TJITJALENGKA” "VAN HEUTS27” •- "TJISADANE” "TASMAN" *TJIWANGI"

+ to Singapore & Java

ARRIVALS

In Port

1

In Fort

13th Jan

,22nd Jan.

:21st Jan,

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

• MANILA, EAST &

SOUTH AFRICA and

SOUTH AMERICA "RUYS" "BOISSEVAINTM* "TJIPANAS"

SAILINGS

22nd Jan,

13th Jan,

18th Jan.

27th Jan.

Bath Jan

28th Feb,

SAILINGS

ARRIVALS

16th Jan,

.22nd Jan,

27th Jan.

"TJBADAK”

lat Feb.

via Japan,

O JAPAN

"RUYS" "TJIPANAS"

"BOISSEVAIN "TJIBADAK"

ARRIVALS

15th Jan,

.15th Mar,

17th Mar, 10th Feb.

SAILINGS

10th Feb. 24th Jan.

5th Feb.

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"MELISKERK" "AAGTEKERK” "TJIWANGI"

Through Ba/L

fasued to

Mediterrancan and Northern

European Porta.

© JAPAN

"MELISKENK"

"AAGTEKERK”

.In

ARRIVALS

Fort 4th Feb. 5th Feb.

SAILINGS

10th Feb. Early Mar.

SAILINGS 10th Jan,

8th Feb.

LEPHONESZRBUG=Z10=2801122

ng follows:

Spot tin, buyer

1.275

ARRIVALS

Spot tin,

aller

1,200

Business done at

39.64 bid

1,275-2,200 1.205 Three-months tin, buyer Three-months Un, softer 1.27D

1275-1.203 Busincas done at Settlement

1,375 United Frenz

9th Feb.

Early Mar.

EKINOS BUILDINGS

43.18

40,23

30,70

39.34 bid

United Press,

CONTROLS IN

ernment will not be able to U.S. FORECAST

complete their stockpile of na- tural rubber in 1951.

The

United Baltle Corpora-

Washington, Jan. 11, President Harry Truman sald

tion catirnates that the United today that price and wage con- States will absorb 538,000 tons trols are en the way,

of natural rubber during 1931 out of the estimated available supplies of 900,000 tons.

If these estimates are any-

They will be put into effect

as soon as possible, he told his news conference.

As to whether prices will be where near correct, they say rolled back to some previous 384,000 tons of

natural rubber level, he said he would have to will be available for the stock-cross, that bridge when he got

pic.

LONDON BLANKET

to it-Associated Press.

Prices in the rubber futures New York Sugar

London, Jan, 11. fourth the total amount of money spent, the defence De-market here closed today as partment reported on Thursday..

follown:

No. 1 rubber (in cents per lb.)— March

585-24 April/June

BOW G July/September October/December

49%-4

Big bustness took the bulk of the defence funds, particularly on orders, for heavy ordnance, planes, engines and ships. Smaller firms handled most of the purchases of clothing, con- tainers and building materials.

United Press-

Lower

5.80 nominal

0.50 bki

0.10 but

New York, Jan. 11. Domestic sugar futures No. 6 closed one lower to two higher, March May July September

6.73 bki World sugar futures No.4 closed four to six lower.

March

May

July

NEW YORK MARKET

New York, Jan. 11. The report said $5,395,000,000 Rubber futures closed today on retail prices. A shortage is was spent for defence orders 175 to 205 points lower, with expected to persist during the last June 30.

during the 12 months ending sales totaling only 3 contracts. early months of this year, but business

of this, small Prices closed today as follows:

70 employing spot concerus

September total year's supplies should fewer than 500 workers got 24.5 May

04.00 nominal Raw sugar Epot 1950. during higher

60.00 United Press. The maximum prices of bright percent or $1,210,000,000.

little

fellows did better and

washers have also been

Ministry of cording to the report. They gut increased under

73 percent of the 1,738,000 orders A spokesman safet Supply order. the increases

were

"not sub-placed.

sub-contracts let to small firms stantial," but covered too wide

business of transacted on the Stock Ex-

than

The July

change this morning was valued nuts and bolts, set screws, studs amber or orders received, a

The

half day's closing

at $68,050. business and noun prices were as follow:- SHARES BUYERS SELLERS KALES

East Axta

GOVT. LOANS

316% (1948)".

BANKS

IIK Bank

.. 1155

105

$10

216

145

79

20%

INSURANCES

Union

Underwriters HK Fire**

DOCKS, ETC.

K. Whart

Provident

S'hat Dock

LAND, ETC.

IIK Land Humphreys UTILITIES

TIRM

GOOD BO

2009 @ 3

20. 31 300 @ 30

it-

This did not include Firmness In

a range of small articles to en- by larger contractors, the re-

able details to be given.

Gloves

eves made of sheepskin but not containing any other kind of für skin, will be subject to purchase tax of unly 33 1-3 per cent. Instead of 100 per cent. Hitherto the lower tax rate has applied only if the gloves wore designed for industrial use.

Cost

port specified.--United Press.

Exchanges In NY

New York, Jan, 11,

Closing foreign exchange: Switzerland

时时

Associated Press.

Motoring In Britain

035

9.80

000 a 10

Star FerryY

71

C. Light (0)

500

5.00

Of

C. Light (N)

316

Electric

20

000 20

1400

20

Telephone

914

Up

Hope

11 12

INDUSTRIALS

Cement.... 10.10 2014

STORES, ETC.

Dairy (New) Watson

20

LONDON STOCK EXCHANGE IN

A QUIET MOOD

was

London.

Motorists and transport undertakings begin

The

Cotton Textiles

New York, Jan. 11. cotton textile market

pressing for goods in all direc-

was firm today, with buyera

tions.

5.63

8.51 bit

5.51

6.52 bkd

0.32 nominal -Azpolated Press.

NEW YORK BANK QUOTATIONS

New York, Jan, 11.. Closing bank quotations; Bank of America

2574 bid 27, pakted Chase National Bank 37 bid

33 asked National City Bank... 4535 bid

471% asked -Asociated Press.

NOTICE TO CONSIGNEES

m/v "LEISE MAERSK"

higher prices, with the popular 80 square

number moving up 4 cent to 28 % cents a

yard, Army in In wool goods an [quiry for 4,000,000 wool blan kets highlighted developments. This was the largest order for blankets since

last the war. Meanwhile, there

Some print clothe sold at having arrived from New York and Ports of call, Consignees of Cargo are hereby notified that their goods

And are being landed

placed at their riak and expense into the Hong Kong & Kowloon Whart & Godown Company's godowne at Kowloon, where delivery may · be obstained as soon as the goods are landed.

ports that worsted

were re-

the New Year with still higher running costs. Carrer prices about US$I a yard but carries on from port to port to tyres are up by about 20 percent.

Motor-cycle tyres are 15 per Motor and tractor oils are up id cent dearer and cycle tyres cost and 1s a gullon respectively. Cor 10 per cent more. Shell-Mex ofs from the, pump in London announce increases of between will be 9s 6d a gallon. 81 and is in lubricating oils.

Tho increase in

price of

distillate, White spirit and the tyres is the fourth and heaviest by-products of relining used

largely in industry and

to dearer rubber, cotton and prices. other baste materials, These have gone up at least fourfold during the past year,

CARS MAY COST MORE Other increases believed

be imminent affect:

Corn Leads

Decline In

Grains

Corn

the

Chicago, Jan. 11. lead gralna lower. Larger movement of cash corn from

country depressed prices of that cereal and had some effect on wheat,

Wheat closed 14-% lower. March

MAY

$2.404-4 2.454-56 2.3876-

Corn was 4-1% lower. Oats were 14-14 lower, Rye was -1% higher. Soybeans were -1% higher. -Associated Press,

AMERICAN PRESIDENT LINES

The Globelifl

ST. GEORGE'S BLDG.

PHONE 28172/6.

TO HONOLULU AND SAN FRANCISCO via JAPAN PRESIDENT CLEVELAND

Arr. fan. 13 Sulla Jan. 14 PRESIDENT WILSON

Arr Feb. 4 Bulls Feb. 5

TO SAN FRANCISCO AND LOS ANGELES via JAPAN PRESIDENT MCKINLEY

Arr. Jun. 13 Balie Jam 13

TO NEW YORK, BALTIMORE AND BOSTON via PACIFIC COAST AND PANAMA PRESIDENT FILLMORE

Arr. Jan. 10 Salle Jan. 11

BOUND-THE.WORLD Via Manila, Singapore, Colombo, Cochin, Bombay, Karachi, Sues, Port Bald, Alexandria, Naples. Marseillea, Gença, New York & Boston.

Arr. Jan. 14 Fall Jan. 11 KARDING"

"PRESIDENT

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 cop- tributes to that opportunity, but is a way of life. Vessels of our Line aro plainly marked and can be recognized earily 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, Baltimoro and Philadelphia vía San Francisco or Los Angeles 50

Optional cargo will not be landed S.S. "FLYING TRADER" here, unless notice has been given mills may 40 hours prior to vengal'a arrival.

the port of to quarter delivery in option extends. the popular price field, with possibly larger Increases Од Лlne type worsteds.

Rayon goods were quiet. after the 18th January, 1951, will bö Associated Press.

No claims will be admitted aftar

the Goods have left the Godowns. S.S. "SIR JOHN FRANKLIN”

and all goods remaining undelivered

subject to rent.

All broken, chafed, and damaged Gooda me to be left in the Godowas. where they will be examined 17th January, 1951, at 10 all.

on

by our Surveyors Mesara Goddard S.S. "Flying cloud"

im

New Members

& Dougins:

to

Of Cotton Committee

To comply with the General Band-

ed Warehouse Regulatione

-100

signees must have a Itavenue Oficer

in attendance when damaged duti-

able goods are examined.

All claims must read us before the 11th Wedruney, 1931, or they will not be recognized.

No Insurance will be electoď.

JEBSEN & CO., · ́

London, Jan. 11. The London Stock Exchange in a little over 12 months. Like chemical processes, are up by quiet and occasionally the last rise of 17% per cent d a gallon. The reason given lowor today under the in-

on Oct. 1, It is stalej tó be due is a further advance in world fluence of the rather gloomy forecast of Britain's prospects for 1051 by Chancellor of the

Exchequer Hugh Gaitskell.

Government bonds. WATC The manufacturers say that

Sooondhand Cars-As a re- fractionally down where only the actual additions to

sult of the threat of reduced changen were registered and factory costs are being passed on

to the consumer. There will be production and extension of the

increase in retailers proft. Dovanant scheme to two years. Examples of the now prices are of the big manufacturers to peg New Card Despite the policy as follows:

Small Cars (440 by 17 tyre);

prices

at existing level, In-

The ICAG and their, mem- NOTICE TO CONSIGNEES Covers £6 70 24 (old price Lasteasps would be caused by

lower production raising thebership, dpplications were : op- Ds 4d), tuba £10s Ed (old price average of overhead costs and proved by a vote of Committee an expected rise in the basic membership at a meeting on 10-12 hp. Care (600 by 10 price of non-ferrous metals, Wednesday tyre): Covers £8 18 78 (24 10% 4d), tubes 1 0s Ad (17%),

Modium Cars (000 by

of a few pence

were

· 1085ès shown by many industrials,

and shipping issues maintained their positions but gold shares were lower.

£10

Financial Times' Index: 118.0, | 178). ---Associated Press.

10

Exchange Rates tyres): Cover £7 169 18 (20

Washington, Jan. 11. The International Cotton Ad- visory Commities announced to- day that Japan and Sweden are the latest countries to become members of that group.

Insurance Premiums.-Leading The acceptance of Japan companies bellow increases pro Swedan brings to 20 the nitra- neccosary because accidents ber of countries on the commit have been more frequent since Lee. Members represent about Ga, 3d), tubes 1.70.00 (£1 28 petrolerationing was abolished, 00 per cent of the world's pro- pad herause of bigger claimeduction of cotton and almost 80 Big Cors (700 by 10 tyren): awards in

In the courts.

per cent of the world's.com Covers 12 11 d. (R10 Da Fot. 1001/willbe, the

sumption. The Committee an 0.019), tubos £1 78 od (£1.2a 11d). motoring yet on record; with nounced that its tenili, pleasry The increases announced by more cars, motor-ʊycles, com- meating will be held at Lahore, Pakistan, boginning on Feb. 1 |-United Pross, lubricauta dos Monsod, than ever.

Doziness was done in the local 11d). imomcial exchange merket This morning at Rhus following' rilassa,

'/Aleriing' note (per(2)

17.4. dollars (per #1)

***

Indonesia guliders (per 100)

Diam ticals per 100)

Singapuro (diralbe)

d" plastcas (per 109)

30.BO

OVE.

8000 Shell-Mox cover Industrial mercial and pubile-nervied volt

1.09

1175 marino and

motor

Hongkong, 11th January, 1951.

m/ "CHANGRIA” Arrived 10th, January, 1951 Damaged cargo ex this vessel will be surveyed by Messrs, Goddard & de Kowloon

Douglas at Hongkong from 10 Wharf, No. 30 Godown am on Monday, 15th and. TuradaY, 11th January, 1951, and consignees representatives are requested to be present during." BURVEY,"

3

BUTTERFIELD-a (WIRE, Agenta, Australian Oviontal Zing "LIA. China Navigation Co., Ltd.

DUE FROM:

Now York via Manila Jan. 23rd

-

New York via. Manila Last week of Jan,

SAILS FOR:

Kobe, Nagoya, Yokohama, Son Francisco, Los Angeles, Now York, Baltimore, Philadelphia, Bouton via Panama Canal Jan. 24th

Pushan, Kobe, Nagoya, Yoko hama, San Francisco, Log Angeles, New York, Baltimore, Philadelphia, Boston. via Panama Canal. Last world of Jan.

New York via

Kobe, Nagoya, Yokohama, Son, Manila Last

Francisco, Los Angeles, Now week of Jan. ́ ́ York, 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 Queen's Road Central 4th Floor.lib bonti refocuḥ ax: Tel: 25846

CHINESE AGENTS:***

OVERSEA CHINESE STEAMSHIP CO., TED

48 Bonham Strand West, 1st Floor.

Tels: 28127 & 81119.

|