1951-01-17 — Page 11

Britain

Postpones

America Encouraging

Metals Ban Japanese Merchant

London, Jan. 16.

Britain heeded distress signals from industry today by postponing for a month her ban on the use of copper and zinc for non-defence articles.

W

The ban, slated to take effect on Feb. 1, was postponed March 1 by a Ministry of Supply announcement.

The Ministry said the move was made after several of the expressed Industries affected

serious

anxiety lest early enforcement of the prohibitions would cause distration for many Arms s and in some cases cessation

production. Meanwhile,

of

Marine

UNCERTAIN

TREND IN

COTTON

specu-

New York, Jan. 10. Price control and the Korean uncertainties kont cotton close to the sidelines. from several taders

to rise and corners of British Industry came Prices continued

nation's fall within moderate limits on indications that the defence shoe is starting to pinch.reduced volume of business but underlying steadiness. Cowley,

Oxfordshire, showed AL several hundret employees of Local professionals and

kapt moving In the giant Morris Motors plantative traders

trying to week because and out, started a

apparently a four-day

|"scalp" a few points on any of material shortages

In Oxford, the Pressed Steel ikely opportunity. Company, whose big plant sup- plies cur bodies for leading auto manufacturers, put 9,800 m- ployees on the four-day schedule for the same reason.

At Loughridge, near Birming ham, the Austin Motor Company shifted 2,300 of its 20,000 workers Same to the four-day week. reason.

At Birmingham. Mr Barry Kay, the Board of Trade's Min- Land Regional Controller, warned

over

Mid-session flurries of selling reflected disappointment the long delay in announcing the country-by-country break- down of export allocations for un0,000 bales, Some additional scattered selling followed the recommendation by a private market advisory service to "sell May and October."

Development

Washington, Jan. 16.

Defence Department officials said today that the United States is encouraging the development of the Japanese merchant fleet to help Japan regain its economic self-sufficiency.

The officials said that is why President Tru- man, in his budget message, urged that some funds be set aside for "partial restoration of the Japanese merchant fleet."

BUYING

RUSH ON WALL ST.

New York, Jan. 18. A buying rush sent stock prices into new 1030-31 high price ground today.

The Defence Department said | Japan has been urged to "put a substantial number of ocean- guing vessels Into the Com- mission to help carry its exports and imports."

Japanese S Japanese Silk At Now High

Tokyo, Jan. 16. Heavy domestic buying today pushed the price af raw silk at Yokohama to a post-E record prico of 210,000 yen (£240) per halo for A20/22. BO. cording

the Kyodo news'sgenicy today.

Raw dik has gone up KINDO 14,000 yen (214) tile stars of the New Year trading 10 days ago.

Repter.

to

HONGKONG

SHARE MARKET

on

The volume of business the Stock Exchange this mom- ing was valued at $209,100. The

and noon half duy's business

closing prices were as follow: SHARES BUYERS SELLERS SALES

The President asked tho Congress to appropriate $150,- 000,000 for economic rehabilita- tion in Japan and the Ryukyu BANKS Islands during the next fiscal year. But he did not specify merchant what he wanted for maring aid.

HK Rank 1210 INSURANCES

Union

Defence officials indicated that the fund's earmarked

for

BK Fire

X. Wizard

Galos ranging from Q few merchant marine assistance DOCKS, ETC. cents to more than $9 a chare would be small but the Govern- were common. Minus signs apment would give the Japanese peared infrequently.

overy encouragement to build with While volume piled up at 4 up their feet themselves New export allocations de-

was privale capital or counterpart tails were

the rapid pace, the market held up by

orderly most of the time. The funds that industry's long-term sui-State and Defence Departments, ticker tape ran late during two i

officials of the Agriculture Dec

sald. Prices partment

closed Loday as follows:--

plour

outlook

is particularly gloomy-Associated Press.

New York Sugar Futures

New York, Jan, 16, Contract No. 4 closed today 13 lower to 15 higher, with sales totalling 789 contracts,

Contract No. 6 closed today 2 I, 7 lower, with salos toalling 773 contracts.

Prier closed today as fol- lows:-

Contract No. 4 Evrorid)

January

March

May

July

Spot

Cuntract No. 6

January

March

May

July

Spot

5.00 hid

5.01 traded 5.19 traded

6.01 traded

5.00

5.40 bid

3.40 bid

5.44 bid

5.50 bk

5.40

-United Press.

New York Metals

New York, Jan. 16. Prices in the metal market here closed today unchanged with the following exceptions:

Tin, Grade A (99.80 percent or higher) New York, per lb. 172. United Press,

Copra Market

New York, 10,

Sellers offered copra for near-

were

Spol

March

July

Clober

Decriter

March (1952) May

Spot

One spokesman said, "We are periods of unusually heavy buy-

On ing activity, but on both

of money oc-spending a lot

to and the only way 45.16 nominal casions the trouble was quickly | Japan

ease the burden is to make it

$4.05 - 44.09

43.37

42.07

30.08

39.40

3636 nominal

30.05 id United Press, NEW ORLEANS MARKET

Match Casti

May July

October Dreenber

March (1952)

May

Closing rate

44.03 noining! 43.93 - 43.97 43.44-43,45

42.07 42.80

39.40

$19.51

39 27 bid

39.04 1

United Press.

Grain Price

In Chicago

Chicago, Jan. 16. Prices of grain futures.closed today as follows:-

Wheal price per bushel Spot

March

242

2.4334-76 2.3014 - 16 2.3714-

Püreember

May

July

Corn Spot

December March

1.7436

1,703

May

July

1.70%-% 1.7415

Rye Deechber

1.7334

добну

1.761

9414

DALE

December

March

NEW YORK

rack, $13.00.

unsnarled.

Other groups strong and se-

trade."

more

money

013 635 40 0 (05

50 100

70

100

8888

ដដដដី

*999

Provident S'hal Dock Wheelock LAND, ETC.

IS 1056

3.20

HKC Land

1734

33

UTILITIES

111.00 300

11.34

1000

1100

Star Ferry

C. Light (0) 1.00 130

C. Light (N) 3.40

C. Light

(13)

Electria.....

Transfers were at the rate of self-sumcient. The best way to ido this is to encourage it to close to 4,000,000 shares for the

in such full session, making it

the make busiest trading day of the year.

things as shipping and foreign Rails, already a strong spot,

The Japanese shipping indus- caught the fancy of more buyers

Iry would presumably be railroad Industry ap- when the penied for a six per cent boost in allowed to expand to the limit

of facilities. present freight rates.

The spokesman sald, "Of General MacArthur Live

included steels, motors, course, rubbers, radio TV, chemicals and would have the final say."

message, President airlines Farm implements, oils Truman said he would

submit and building materials

were detalis of a Japanese economic mixed

ald

programme later. He said the marine expansion would be only 240.05.

one of the six ald programmes 03.03.

requiring appropriations. He did 42.25. not

further-United COTTONS

Dow Jones averages: 20 Industrials

15 Rails

10 Uulities

-Associated Press

Wool Marks

Topple

In his

Pross.

comment

TO VISIT GERMANY

Tokyo, Jan. 17. Japanese merchant ships have been authorised to enter the ports ot Western Germany, General MacArthur's Hend quarters announced here today. This action brings to 39 the number of countries which have reopened their parts since the war to Japanese vessels.

SLOWNESS IN RUBBER

IN RUBBER RI, L.

New York, Jan. 10. Rubber traderu reported D slow alluation in both the spot and futures markets, Brokers reported n stalemate in the spot. market because of the wide price spread existing between Government buying and ship- pera' selling ideas.

closed

Prices follows:-

Spot

March

May July

today 115

ROYAL INTEROCEAN

• SINGAPORE JAVA PORTS and

MACASSAR

"NIEUW HOLLAND". "VAN HEUT8Z" **

"TJISADANE”••• "TASMAN"*

71,00

"TJIWANGI”

00.00 bid 03.00 bid 68.00 bid

-United Press,

STORE MARKET

Singapore, Jan, 10. Prices in the rubber futures market hero closed today as follows:-

Number i rubber, per I.

January

Febriinty March

Number rubber January.. Number 3 rubber, January.. Number 4 rubber, January

to Singapore & Java.

ARRIVALS

LINES

SAILINGS

25th Jan,

In Port

1812 Jan.

.22nd Jan,

27th Jan,

.21st Jan,

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

not calling at Singapore.

O MANILA, EAST &

SOUTH AFRICA and

SOUTH AMERICA "HUTS** -"BOISSEVAIN”

"TJIPANAS”

ZOJ-204

107-158

"TJIRADAK"

108-200

107-10

§ via Japan,

153-104

Spot rubber, untated Black repo No. i palo crepe

216-217

• JAPAN

381-183

"TJIPANAB”

410-223

-United TreRA.

"BOISSEVAIN"

"TJIBADAK”

Nickel Plant

Washington, Jan, 10. The Government announced an agreement today for rehabili- tation and operation of a nickel plant in the Oreint

rent province of Cuba. The announcement was made by Mr Jesse Larson, Ad- ministrator of General Services. The Mining Equipment a Corpora- York, will operate the Lion,

1000 -11.50 1000 11.50 1200 11.80 | P

500 @ 11:30

2334 24 1000 @ 23.

200 23.

2006 2314

1000

1000

BDO 24.

200 24.

INDUSTRIALS

Telephone

Tele. (New) 815

Cement .... 111. Rope

11.50 STORES, ETC.

Dalry

11% 18% 300 @ 11% Watson

2015 Crawford 20

2.30 %

A

300 @ 0.25

1000 11

Ewo

NOTICE TO CONSIGNEES

CONSIGNEES PER STATES STEAMSHIP COMPANY

■.. "CHARLES E. DANT

Melbourne, Jan. 10.

are hereby notified that their cargo Four world's recorda were

is being discharged into the long- 1/76 made at the opening of the 1951

kong & Kowloon Wharf & Godown Con Hodowa where it will be at Geelong wool sales today.

The first ship to enter a West constances risk and subject to the A bale of Merino

fleeco German port will be the Pack-Whart's torrms and condition of brought 309 pence a pound, a fic Maru, at present en route to

storage, and where delivery may be obtained. periny mOVE than

record in Sydney he previous Hamburg and Bremen to load

on Jan. 11.

Comeback fleece sold for FLOUR-per 200 lb. 243 1/2 pence, easily beating

last

Thursday's world record of 216 1/4 pence.

-United Press.

Wolfram Up

by shipmen; at $260 per ton. Buyers

indifferent. In

London, Jan. 10. The price of wolfram cocoanut oil, all positions were

in offered at 19- cents a pound London has risen a further 20 asked, F.O.B. mills-United and was quoted today at 480 to 480 per unit.-United Press. Press,

AMERICAN PRESIDENT LINES

The

PHONE 28172/5.

ST. GEORGE'S BLDG.

TO HONOLULU AND SAN FRANCISCO via JAPAN

PRESIDENT WILSON

PERSIDENT WILSON

Arr Feb. 4 Arr. Mar. 23

Balls Fab. B Salin Mar. 24

TO SAN FRANCISCO AND LOB ANGELES via JAPAN PRESIDENT TAFT

Arr. Jan. 31 Balls Jan. JÍ

TO NEW YORK, BALTIMORE AND BOSTON VIS FACIFIC COAST AND PANAMA PRESIDENT FILLMORE ......ing Arr. Feb. 10 Sail Feb. 1

ROUND-THE.WORLD

Via Manila, Singapore, Colombo, Cochin, Bombay, Karachi, Butz, Pert Said, Alexandria, Naples, Marseilles, Genon, New York & Boston,

PRESIDENT JEFFERSON

Arr. Jan. 30

Baits Jan. 30

M.V. "LA MARSEILLAISE

Roundtrip to JAPAN

via Manila

13 days away

99

ΟΙ

The December record of 372 ponce a pound made at Geelong

bales was broken by two Merino lambs' wool which brought 391 pence. Associated Prest

LONDON TIN

MARKET

London, Jan. 16. Prices of tin declined sharply in the monung session today. Turnover was 150 tons, including 10 tons for cash,

a cargo for delivery to a United States Atlantic port, the nouncement cuid-Reuter.

an-

Japanese Rice

Target

Tokyo, Jan, 18. The Japanese Government has sel the 1881 rioc crop, target at 05,101,000 kokus (roughly 323 million bushels),

The preliminary estimates for the 1950 crop put the figure at (313 million 62,600,000 kokus bushels)-Reuter.

Prices closed today at the end Exchange Rates

of the official morning session as

follows:-

Spot tin, buyeru

Spot tin, sellers

Business done ặt

Three-months tin, buyers Three months tin, sellera

Business done at Settlement

1,175

1,180

1,185

Buriness was done in the local unoMcial exchange market thi morning at the following rates:-* Sterling noté (per &).

15.49

1,175 U.S. dollars (per $1)

1,100

1,170

Siam teal (per 100)

1180Singapore (Straits)

-United Prem

Record Out

16"

Damagal packages are to be inft In the godowns for examination by Consignees and the Company's sur- veyors, Messrs. Carmichuci & Clarke at 10 BIT. on the 22nd January. 1951.

To comply with the General Bonded Warehouse Regulations, con- signees must have a Revenue Officer in attendanco when damaged duti- able goods are examined.

No claims will be admitted after the goods have left the steamer's godown, and all goods remaining undelivered after the 23rd January, 1951, will be subject to rent,

All claims against the steamer

plant and act ag engineering consultants for the rehabilitation project. Mr Larson said the facilities are expected to be pro- ducing nickel oxide in months.

10

The present market value of nickel is 60- cents a pound,

United Press,

ARRIVALS

Port

In .23rd Jan, .30th Jan,

Ist Feb.

ARRIVALS

16th Mar.

Iat Feb,

28th Feb.

SAILINGS 17th Max. 17th.Mar.

15th Feb.fi

SAILINGS

15th "eb. 25th Jan,

5th Feb.

Agents: HOLLAND EAST ASIA LINE

• EUROPE við MANILA

and MALAYA

*MELISKELK” "AAGTEKERK”

**TJIWANGT

Ds/L

issued

to

Mediterranean and Northern

Through

European Porta.

"MELISKERT” + "AAGTEKERK” +

O JAPAN

+ vla Manila,

BAKING S

ARRIVALS

.In Port

4th Feb.

5th Feb.

ARRIVALS

9th Feb.

4th Mar,

SAILINGS 10th Fob,

5th Mar,

SAILINGS 17th Jan.

11th Feb,

BEDING, TELED most unis TOPTI

SAUCHT, mnchEET INS

The wars our generation has witnessed have brought what wara 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 sail in and out of the principal ports of the world, and we like to feel that they are practical symbols of this philosophy:- Jebrandtsenh

INDEPENDENT

DEPENDABLE

Regular Sailings from Hongkong to New York, Baltimoro

and Philadelphia vía San Francisco or Los Angeles

S.S. "FLYING TRADER"

must be presented to the Under S.S. "SIR JOHN FRANKLIN"

signed on or before the 30th Janu-

AS, or they will not be re cognised.

No Fire Insurance will be effected.

DODWELL & CO. LTD.

Agents

Hongkong, 17th January, 1001.

NOTICE TO CONSIGNEES

3.40 Indonesia guilders (per 100)..

FIC plastros (per 100)

Gold

Of

27.00

1.70 11.00

Flow

America

New York, Jan. 6.

I

CIE DES MESBAGERIEA

MARITIMES

Consignees per Company's D.V, "FELIX ROUSSEL"

are hereby notified that their cargo is being discharged into the Hong- kong & Kowloon Whart & Godown Co's Bodowns, where it will be at Consignees' risk and subject to the Wharf's terms and conditions of storage, and where delivery may be obtained as soon as the goods ara landed.

Damaged packages are to be left in the dedowns for examination by Consignees and the Company's syr- veyors. Messrs. Goddard & Douglas

at 10am on Saturday, 20th Janu-

ary, 1957.

Consignes muel have a Revenue

More gold flowed out of this country in 1950 than ever before in history, but the loss of the pre-

To comply with the General cious metal failed to affect the economy adversely.

Bonded Warehouse Regulations

Omeer in attendance when dam- Final statistics for the year The movement of gold to nged dutiable goods are examined. will show that the nation's other countries, authorities

No claims will be admitted after golden stockpile contracted by point out, strengthens the cur- | the goods have left the steamer's more than $1,500,000,000. How-rencies of such countries and godowns, and all Koods remaining increased undelivered after 21st January, 1031, ever, even after this loss, gold furnishes them with holdings at the year-end ware purchasing power for the future, will be subject to rent.

The30 developments, in furri All claims against the steamer (000.

to the under- tend

to stimulate greater must be presented

sirmed on or before 20th January, amount of world trade,

1931, or they will not be recognised. This total compares with the

come extent, at least, this No Fire Insurance will be effected. peak holdings of $24,091,000,000 country's loss of gold during 1950

CIE DES MESSAGERIKS attained on Sept, 21, 1949, and reflected uneasiness -- whether also compares with a stockpile justised or not--in foreign fiscal

Sailing from Hongkong 26th January 8 p.m. stil well in excess of 322,750,-

to MANILA, YOKOHAMA and KOBE.

Arriving from Japan 8th February, 6 p.m.

1st Class

Tourist

KOUNDTRIP FARES

HK$810 to HK$970.

HK$580 and HK$615.

Excursions in Japan arranged on application. CIE DES MESSAGERIES MARITIMES Queen's Building

Tol. 26051 (3 Lines)

MARITIMES

of only $0,238,000,000 at the close circles about the stability of the liongkong, 18th January, 1931.

of 1934, after the price of gold had been boosted to $35 from $20.67 per juneo,

Prior to 1050, the largest out- flow of gold from this country ooctured in 1044, when the loss amounted to $1,840,800,000.

United States dollar. How great

a factor this was in the outward

movement can never be deter-| NOTICE TO CONSIGNEES mined accurately.

KEL MEDENTOR"

So long as the dollar remaine Pegged to a US price of $35 per ounce for gold, foreign countries ard no better off holding Fold The main reason for the loss than they

Damaged cargo ex this yesmo! will are with dollars. be eveyed at Holt Whart "be of gold during 1060 was this However, should this country tween 10 am, and Noom On FRBATY country's programme of stock-boost the price it pays for gold 17 and it, 1981, and consignes ziu piling strategic, materials for to, say, $50 per ounce (a devolop requested to have their representa delenco purpleads... This mon which seerias contremly during the survey. Involved buga spending in unlikely at the moment), foreign countries, with the foreign nation helding gold latter using some of the pro-would be much better or than ceeds of this buying, to build | one bolding up their gold reserver.

A

KABUXTEKFIELD A› FEVIOLIN,

Agrotu

Hongkong, Jankowcy) 14, 1986.

S.5. "FLYING CLOUD”

SAILS FOR:

DUE FROM:

(Uhcalling Hongkong Hongkong Cargo

CLOUD" transhipped to 8.2. "FLYING Singapore.)

New York vin Manila

Jan. 20th

New York via Manila

Feb. 1st

at

Pushan, Kobe, Nagoya, Yoko. hama, San Francisco, Los Angeles, New York, Baltimore, Philadelphia, Boston vin Panama Canal Jan. 21st

Kobe, Nagoya, Yokohama, Ban, Franciaco, Los Angeles, "NOW York, Baltimoro, Philadelphia, Boston vin Panama Canal. Feb. 2nd

(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.

Tel: 26846

CHINESE AGENTS,

48 Bonham Strand West, 1st Floor.

OVERSEA CHINESE STEAMSHIP CO., LTD.

Tels: 26127 & 31119,

Pacific Far East Live, Inc.

Fast Rogular Trans-Pacific Servico

`OVERLAND

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

DIRECT

SAN FRANCISCO, LOS

ANGELOH

Vossel

Frata'

Artivon

"CALIFORNIA BEAR”'

“PHILIPPINE BEAR”

San Francisco'

San Franci

- "BAN 'ANGELO VICTORY"

Strália

Jan. 10

Jadi '90 ·

Jah? so

3. 10

1. L. LUCKENBACIS

San Francisco

B

* Feb." 19"

["INDIAN "BEAR?”"

For

San Francisco &. Los Angeles Sinisipers, Djallacia, Colombe;

Bombay, Karmant de Bearcats). Banandton & Live Angulor Singapore, Tafakario, Bombar

Francico a Les Angulin Via Kobe

For falt pachechutiť osta Gometni danado, Untied Distritzkis Ovà quency MATHING,