1951-01-18 — Page 11

THE CHINA MAIL, THURSDAY, JANUARY 18, 1951,

WAGE & PRICE High Wool Price Further

CONTROLS IN U.S. FORECAST

Philadelphia, Jan. 17.

J

The Defence Mobiliser, Mr Charles Wilson, gave the signal tonight for swift imposition of mandatory wage and price controls and informed 'Washington sources that the broad new order

might be issued within a week.

In a speech here, Mr Wilson all but ordered the Economic Stabiliser, Mr Alan Valentine, and the price chief, Mr Michael Di Salle, to quiet feud- ing and get on with the big job of halting inflation. He said flatly that voluntary curbs had failed..

Another Rise In Stocks On

Wall Street

New York, Jan. 17. The

dock market rammed through another price advance today after beating down an early burst of selling.

Smalt

selling flurries in the fint minutes helped to set the ticker

for the behind Lape third time in the session. These however, failed to cut sales, very deeply trend.

tightening

Continuing

Melbourne, Jan, 17. High prices were again realised at Geelong wool males today.

A bale of lamb's wool was made

per perd.

dlay'a

at 301 pence

equal to Tues-

The top price for Merino Becce was 293 per pound,

The market dverages five to 744

Der

cont abovo Tuesday's prices,

American interests again led the competition, follow- ed by Great Britain.- Associated Press.

FBI CHIEF

APPEALS

TO ATTLEE

Increase

In Newsprint Prices Forecast

Buffalo, New York, Jan. 17.

NOTICE: TO CONSIGNEES

CONSIGNEES' PER

STATES STEAMSHIP COMPANY

KL “CUARLES E, DANT”

are hereby notified that their cargo is being flacharged into the Hong- kang & Kowloon Whart & Godown Co's godown where it will be at consignees risk and subject to the Wherl's terms and condition of storage, and where delivery may be obtained.

A spokesman for the Canadian newsprint in the godowns for examination hy industry said on Wednesday that defence pres-veyors, Messe, Carmicisset & Clarke sures may force cutbacks in American newspaper advertising and trim British papers to their four- page editions of World War II.

R. M. Fowler, president of the Newsprint Association of Canada and head of the Canadian Pulp and Paper Association, coupled his forecast with the warning that the recently rumoured Government controls over newsprint would not work.

Mr Fowler told a meeting of the New York State Publishers' Association that defence

pro- jects have taken up the slack In unemployment In Canada. and hinted the price of paper on Nottingham, Jan. 17. Sir Robert Sinclair, pre-which newspapers are printed sident of the Federation of boosted by $8 per ton late last It was might soon be raised.

British Industries, ap year.

pealed to the Government, Mr Fowler said: “If you want

"Whatever the causes for de- lay up to now, we must proceed with speed and forthrightness to admit controls which will insure stability and fairness in our civilian economy," said Mr Wilson. He

served notice that civilians must face tharp new cuts to hasten rearmament and urged Congress to extend the Federal

rent controls beyond the expiration date of March 31 as part of an overall stabillaa- today to postpone the take- tion programme,

over of the nationalised Simultaneously

It was re-

that the iron and steel industries, ported in Washington forthcoming

rall now fixed for Feb. 15. order would

1 and prices back to Jan.

dato

Nationalisation

now, he said "stabilise" wages at that

of any at That would take care

a luncheon, would entail Mr Di "Inevitable dislocation und dia- price increases since Salle's abortive

30- traction" plan for

at a time when vital day wage-price freeze, which Mr industries Valentine vetoed last week

are into the upward

The opening carried pricos generally lower, This was the market's brief reaction to the Federal Reserve Board's order stock buying up

record as Having

Kone on disliking the move, the market then reversed its course and for the rest of the session prices headed higher.

credit. zelit.

the

DESTY

tearmament.

the

to

swift

newsprint production to be malalained or expanded, you must during the labour shortage be prepared to leave nowsprint manufacturers free to meet the conditions of the labour market and to accept the rising costs when they are inevitable.

"Arry Government controls over newsprint at this time will be ineffcetual and will lose you supplies in material volume."

EFFECT ON BRITAIN

were

Bigns

IN BETTER SHAPE Mr Wilson said the United "Surely the circumstances of States was in better shape to today, the situation which now the freedom-loving block the aggressive designs of confronts

of the world, have He said, there was to peoples Russia thun it Soviet

ght Hitler in the start of World materially changed since in the that publishers are not likely War II. The United States and carly autumn the February date to have as much nowsprint in 1051 As you would like to its allies potentially represented was fixed," he asserted.

have." strongest aggregation of power on earth.

enemy does have more Rubber, radio television and human bodies than we have. We bleel stocks reflected the most cannot match them in that. We demand. Corper don't have to. We can design Buggressive mining and oil shares perform and produce better weapons and e

Motors,

aircrafts, we have better means well.

With a and cliem!cals

force in a superior being, we can

American and Allied lives. We may also 248.01. be able to save a few millions of

84.43, those

Russian todles from

cails,

were

utilities

mixed.

Dow Jones averages:

20 Industrials

"The

them.

save

10

ህዳር

42.35. destruction and preserve them for a better life."--United Press.

15 Rails

10 Utilities

-Associated Press.

Grain Price

In Chicago

Chicago, Jan. 17.

Prices of grain futures closed today as follows:-

Wient-price per bushel,

Spot

December

March (1951)

May

July

Com

Spot

December

March (1031)

May

July

Пур

December

May (151)

(ale

Deccraber

March (1951)

1.75-1.743

1.7846-15

1.744-

HONGKONG

SHARE MARKET

"The steel industry," Sir added, "is at this Robert

doing magnificently. moment

it in any way at Why disturb

this

critical stage in our history?" Associated Press,

Dullness In NY Rubber Market

New York, Jan. 17. Dullness featured both the spot and the futures market for crude rubber. Prices closed to- day as follows:-

1-15

€0.00 bid

01.00 bld

Big American Loan To Indonesia

Washington, Jan, 17: The Government's Ex- port-Import Bank announced Wednesday the signing of an agreement for $52,245,- 500 în loans to the Republic of Indonesia.

These credits will be charged 0 $100,000,000 fund ogainst carmarked by the Bank for the лету Pacific Island Republic last year.

The loans will be used to pay for productive equipment and materials imported by Indonesia for economic reconstruction and development They will bear interest of three and a half per

cent.

Indonesia is to pay off the loan in 30 semi-annual in

1950.

Damaged packages are to be feft

Consignees and the Company's sure,

of 10 ban on the 22nd January,

To comply

the with

General Bonded Warehouse Regulations, cun- signees must have a Revenue Officer In attendance when damaged duti-

be goods are examined.

No claim will be admitted after

godown, and all goods remaining undelivered after ute zard January,

the woods have left the steamer's

1951, will be subject to rent.

All claims against the steamer must be presented to the Under- signed on or before the 30th Jan- ary, 1031, or they will not be re- cognised:

No Fire Insurance will be effected,

DODWELL, & co. LTD, Agents

Hongkong. 17th January, 1951,

NOTICE TO CONSIGNEES

CIE DES MESBAGERIES

MARITIMES

Consignees per Company's

MV, "FELIX ROUBBEL"

are hereby notified that their cargo

being discharged into the Hong kong & Kowloon Whart & Godown Co's godowns, where it will be at wharf's terms and conditions or Consignees risk and mtbfeet to the

storage, and where delivery may be obtained as soon as the goods are landed.

in the Godowns for examination by Damaged packages are to be left Consignees and the Company's sur veyors, Messrs. Goddard & Douglas

ary, 1951.

at 10 on Saturday, 26th Janti-

To comply

the General with Warehouse Regulations Bonded Consignees must have * Revenue officer in attendance when aged duuable goods are examined.

dam.

No claims will be admitted after the goods have left the steamer's 1,1 godowns, and all goods remaining undelivered after 21st January, 1951, will be subject to rent.

He warned they may have to ration advertising slightly, cul down on return privileges and stalments beginning March special issues, and "may have to tighten

your papers to a The agreement made these small extent."

of loan specific Mr Fowler added: "In

funds: Great Britain. there is a real

The

of $20,000,000 for ponsibility that the newsprint shortage will reduce British trucks, buses, jeeps, ambulances, some passen- motorcycles and newspapers

four page

for road- ger cars; $2,100,000 editions."-United Press.

to

Japanese

Trade Chief

In Britain

58.00 bid Trade Unlied PA 15.

S'PORE MARKET

Singapore, Jan, 17. Prices in the rubber futures 21210 market here closed today as

follows:

B1210

Spot

2.43

2.4316-%

2.45%-2 2.3776-9%

The volume of business transacted on the Stock change this morning was valued at $183,426,50. The half day's business and neon closing prices 2.39-2.3014 were as follow:-

March

Ex-

May

July

1.7436

SHARES BUYENS SELLERS BALES BANKS

1K Bank

1210

3.78-1.7814

INSURANCE

Union

015

20 → 05

50 x

30 @ 825

135

71

15 10% 1000 1

6.70 300 @ 0%

2006 33

Spot rubber, ambaled Black crepe

No. 1 pale crepe

1.05

11

1000 @ 1135

400 5.00

000 64 5.00

500 1.00

133 3.40

1.74 *

1.7814-15

0314 93-95

New York four-per 200 lb. sack, $13.00.-United Prod.

APL Buys 2

More Ships

San Francisco, Jan. 17. American Prezident Lines said today that it has bought two more ships, the Willametle Victory and the Dartmouth Victory.

The Willamette Victory will be renamed the President Garfield: A new name has not yet been selected for the other ship.

The 17-knot vessels, purchased from the Maritime Administra- tion, will be added to the trans- Pacific service. Associated Press.

PETROL IN

British

UP

BRITAIN

London, Jan. 17.

oil companies in- creused the price of petrol to- day by one halfpenny a gallon effective Thursday.

.The

The price of petrol in Britain will range from 3/1 d. to 3/20. depending on the distance from the supply ports.

Anglo-American Company said the increase, In- eluding similar boosts of avia- tion gasoline and motor prices, were due to increased ocean freight charges approved by the Government.-Associat- ed Pruss,

મ

Cotton Export Allocations

HK Fire..

DOCKS, ETC.

K Whart Provident .. LAND, FTC.

IIK Hotel

HK Land Sthal Land UTILITIES

Train

--

C. Light (0)

C. Light (N) 3.40 3

C. Light

Electric

Sharen

Telephone INDUSTRIALS

Cryment Rope STORES, ETC.

Detry

1000 @ 35%

470 @ 5.70

23 233 500

100 0 234

600

011⁄2 2009

11 000114

etete

1.1

11%

1135

1134

800

1115

300 115

20% 400 @ 2012

21

Watson L. Crawford 10 COTTONS

Ewo

LONDON TIN MARKET

London, Jan. 17. The tin market turned much firmer today with the help of

213-214 100-162 204-200

London, Jan. 17. Ryuji Takeuch!, Foreign administrator of the Japanese Ministry of Inter- national Trade

and Industry, talked Wednesday with officials of Britain's Board of Trade.

Board of Trade oudain said the talks were unofficial.

His London discussions followed talks in Manchester on cotton. Britain and Brital

Japan are stiff

sum

allocations

building equipment; and

All claims against the steamer must be presented to the under- signed on or before 29th January, 1951, or they will not be recognized.

No Fire Insurance will be effected,

CIE DES MESBAGERIE:

MAILITIMES

Hongkong, 15th January, 1051.

for telecommunications ment; $6,700,000 for dredges steel, cement, and other ma- NOTICE TO CONSIGNEES terials required for rebuilding port facilities; $17,100,000 for rallway equipment, chiefly eny Diesel electric locomotives, freight cars and track-laying equipment; $0,000,000 for eight spare parts, to aeroplanos and

be used by Garuda Indonesian Airways in supplying air ser- vice in Indonesia.-Associated Press,

NY

COTTON

MARKET

New York, 17.

Prices of cotton futures closed

Spot

March

45.91 nominal:

43.91-43.94 49.41-43.43

42,80

31.90-39.93 30.40 39.43 bid

Number 1 rubber, per lb.

January

104-103 competitors in the cotton goods today here as follows: Number 1 rubber, February 154-195 Number 2 rubber, January 105-107 trade, Number 3 rubber, January '100-102 Mr Takeuchi is making a May Number rubber, January 182-184 world tour primarily to study July

trade in the Western

hemia- October

December phore. He plans to go to Paris March (1902) -United Press Thursday, Associated Press.

39.15 bid Mny

-United Press, NEW ORLEANS MARKET

Closing rate

43.00-nominat 43.78-43.79

Substitutes For

Leather In Use

In Britain

London, Jan. 17.

Spot

March (1051)

May

July

October

December March (1852) May

43.38-43-29

47.15

30.00 bid -United Press.

New York Sugar

Futures

New York, Jon 17, Domestic sugar futures No. six closed one lower bɔ one

May

September

One everyday requisite which has risen steep- ly, although unavoidably, in price since pre-war higher. days is shoe leather. Since this price is governed by March the cost of imported hides--still becoming dearer —it is easy to understand why housewives have †sometimes shuddered at prices shoe manufacturers

and repairers, have been obliged to ask.

And it is equally easy to development has been carried a substantial turnover of 200 understand the interest being out while still keeping down tons, divided equally between shown by the boot and shoe the cost of the substitute pro- spot and three months.

industry in an innovation which duct to well below that of the Prices closed today at the has now been made possible in

variety. leather end of the official morning Britain-use of synthetic rubber That being so, it might be session as follows:-

and other substitute materials, considered surprising that 90 sSpot tin, buyer

derived from petroleum, as spot fin, sellers

as soles por cent of all footwear made Business done at ......

in Britain today is still leather for footwear of all types.

This alternative to expensive soled. But there is a good rea- Tree-montha tin,

buyers

Three-mentha tin.

sellers Business done at Settlement

1.3215 2,200 1,715-1,220

1,205

1,210

1920

In the

ditico U.S.A. almost 50

40

40

-United Press,

MALAYAN

3.39 bid 640 bid 3.45 bia pie 350 bid World futures No, four closed two higher to 17 lower, March May

July

September March Naw społ

PIA DON

m/v "AUTOLYCUS" ·

Damaged cargo ex this vessel will bo surveyed by Messrs. Goddard Be Douglas at Holt's Wharf from 10 a.m. on January 19 and 20, 1951. conslimees are requested to and have their representatives present during the survey.

BUTTERFIELD & BWIRE

Agenta Hongkong. January 18, 1951.

•

R.I L

ROYAL

INTEROCEAN

SINGAPORE JAVA

PORTS and

MACASSAR

"NIEUW HOLLAND" ‡ "VAN HEUTĒZ"

"TJISADANE" *** "TASMAN” ► "TJIWANGI"

·

to Singapore & Java.

ARRIVALS

LINES

SAILINGS

25th Jan. 19th Jan,

.In Port

.In Port

22nd Jan.

27th Jan,

21st Jan,

1st Feb.

28th Feb.

only to Singapore, Penang & ·D, Dell.

only to Singapore.

not calling at Singapore.

O MANILA, EAST &

SOUTH AFRICA and SOUTH AMERICA "BOISSEVAIN"

"TJIPANAS”

"TJIBADAK"

# via Japan,

*TJIPANAS" "BOISSEVÄIN"

*TJIBADAK"

⚫ JAPAN

ARRIVALS

23rd Jan 30th Jan, 1st Feb.

ARRIVALS

10th Mar,

SAILINGS 17th Mar,

15th Feb.

SAILINGS

15th Fob.

25 Jan

5th Feb.

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA "MELISHERK”. "AAGTEKERK” *TJIWANGI"

Through

to

B/L issued Mediterranean and Northern European Puria.

O JAPAN

ARRIVALS.

SAILINGS 10th Feb.

4th Feb.

5th Feb,

Bt Mur,

ARRIVALS 9th Feb,

SAILINGS

11th Feb.

"MELISKENK”---+ "AAGTEKERK" +

+ via Manila.

4th Mar.

AMERICAN PRESIDENT LINES

Global Flee

ST. GEORGE'S BLDG.

PHONE 28172/5.

TO HONOLULU AND SAN FRANCISCO via JAPAN PRESIDENT WILSON

Arr Feb. 4 Bail Feb. 4 Arr. Mar. 23

BAI Mar. 24

PRESIDENT WILSON

TO SAN FRANCISCO AND LOS ANGELES vi» JAPAN PRESIDENT TAFT

Arr. Jan. 31 Salla Ja. 31 TO NEW YORK, BALTIMORE AND BOSTON via FACIFIC COAST AND PANAMA PRESIDENT FILLMORE

Arr. Feb. 19

Balls reb. 1

ROUND-THE.WORLD

Via Manila, Singapore, Colombo, Cochin, Bombay. Karachi, Sues, Fort Bald, Alexandria, Naples, Marseilles, Genoa, New York & Boston

Arr. Jan. 30 Ball Jan. 38 PRESIDENT JEFFERSON

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 sail in and out of the principal ports of the world, and we like to feel that they are practical fabrandtsen symbols of this philosophy:-

INDEPENDENT

DEPENDABLE

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

3,02-bid

6.02 b24

5.03 14

4.80-4.100 5.99

S.S. "FLYING TRADER"

----Associated Froes.

SAILS FOR:

DUE FROM: (Uncalling Hongkong. All non-positive list cargo transbipped to s.a, "FLYING CLOUD”

Japan.)

New York via Manila

S.S. "SIR JOHN FRANKLIN" at Singapore; positiva list cargo off-loathed in NEW YORK BANK S.S. “FLYING CLOUD"

QUOTATIONS -

New York, Jan. 17.

Bank of America: 26 bid, 27-

Feb. 1st

Kobe, Nagoya, Yokohama, San, Francisco, Los Angeles, New York, Baltimore, Philadelphia, Canal Boston via Panama Feb. 2nd

leather has been widely adopted son. Until now, British boot 1/2 asked.

Chase! 37-3/8 bid 39-3/8 (Transhipment cargo accepted for Jamaica, Havana and other 1.210-1.200 ou fillon pairs of shoes manu- | the type of synthetic substitutes 48-1/4 naked-Associated Press.

UP AGAIN

1940, and shoo amanfacturers have not asked. 60 per cent of the enjoyed any domestic source of

National City: 40-1/4 bid,

New York Metals

or higher),

factured in America's factories being used by their contempor annually aro

solod with sub-aries in the USA. Nor could TIN stitute materials. In the cheaper these raw materials be import-

lines, the 4150

of such sub-ed owing to need of conserving stitutes to

the

New York, Jan. 17. especially popular. dollars. How petroleum- .

swiftly Nino

children's shoes, Nine out of ten

market developing

Prices in the metal for example, have substitute chemicals Industry resulting closed today unchanged with Singapore, Jan. 17,

The toughness of there

trom the expansion of our oll the following exceptions:-— Heavy European and South soles was amply demonstrated refineries is rapidly changing Tin, Grade A (99.80 per cent American demand pushed the during the recent war, when the picture. price of Malayan tin to $3000 footwear Lued to the U.S. Already one leading firm

New York, per Ib. 175-United per ploul Wednesday. This was aimed forces had perforce to shoe manufacturers has reach Press. a rise of S$7.00 over Tuesday's mako

Utilo demand as od an agreement for supplies of closing,

possible upon stocks of rationed a now-type substitute material, NY Copper Futuros The all-time record high of feather.

and as the volume of by-pro- B$800.75 was reached on Jan. 19. Since

Since -ఔhop. tho various ducts from the refineries and

New York, 17. -Associated Press. The United States allocated

petroleum-barod alternative petroleum-chemical

Copper futures closed quiet. materials have been radically finute to even plants con- on Tuesday 653,000 additional

new rub-There were no sales-Associated colton for export to

efficiency and suitability. Be- | for sto foreign nations.

sides .*

durability-cane, of

of the

the come correspondingly Most of the now cotton was Bustna was done in the local new-type synthetic soles

This should carmarked for Italy, Trieste and some Japan, the Agricutiate Depart sering note: (parte 1948 long 08-0919 made from natural gra, and make bingoding

mening at the following roles claimed to last, right times as far other beadeccome new

• New York, Joni. 17. ment announced: Japan will US dollars (pek 31) itu. || 5.99 | Inath camach characteristics as exponses over shoo repaira and Foreign exxtiange closings: get 170,000 botes, while Italy Indonesia muilders (ner 109) .. 240

20 porosity, flexibility and opse of replacements much enalar for Britain 2,80, down 1/16th · of: and Tricate will receive 117,000 CAMP 199) Prales ---United Frem

To matistature, have been ryshem housewivor with whom every· a croll": Switzerland 23.4. Othore X75) pómetran (pes. 1003 zuen. 11.00 | atically developed, Anzl this 1, copper comida.

boles

Washington, Jan, 17.

so will pro-

Exchange Rates Improved in regard to all-round duction of suitably her - Peci

exchanga

poes(Alewine?"

Kiin

for

Exchanges In NY

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 Contral 4th Floor.

Tal: 25840

CHINESE AGENTS:

48 Bonham Strand West, 1st Floor.

OVERSEA CHINESE STEAMSHIP

CO., LTD.

Tels: 26137 & 81119.