1951-01-22 — Page 9

MESSAGERIES

M

"LA MARSEILLAISE”

"GRANVILLE

ARRIVALS

MARITIMES

M

from Marseilles via Salgon 28th JaIL

from Europe SAILINGS

PASSENGER/FREIGHT SERVICE

"LA MARSEILLAISE" "LA MARSEILLAISE" "FELIX ROUSSEL"

"ST NAZAIRE”

"BEAUVAIS"

"COURSEULLES"

to Japan

5th Feb.

Manlia 28th Jan, vla

9th Feb.

to Marseilles via Manka to Marnelles vla Manila

FREIGHT SERVICE

1st Apr.

N. Africa & Europe 23rd Jan, N. Airlea & Europe 18th Feb,

..N, Airlea & Europe 10th Mar.

for

PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORLAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

"ST. NAZAIRE"

to Salgon

23rd Jan.

Bankers' Prescription For Dealing With

Inflation Bogey

The

(FROM OUR OWN CORRESPONDENT)

London, Jan. 20.

Outside of the Treasury's inner circle of high officials there is probably no section of the community in a better position than the big bankers to observe the state of the country's economy in all its various aspects.

The crop of bankers' reports which have been published this week are, therefore, of more than usual interest if only because the state of the country's economic health has never before been a matter of such wide

concern.

CIE DES MESSAGERIES MARITIMES

dozen or Tel. 26651 (Threo Lines) Queen's Building

AMERICAN PRESIDENT LINES

The Global Fleet

ST. GEORGE'S BLDG.

PHONE 28172/5.

TO HONOLULU AND SAN FRANCISCO via JAPAN

PRESIDENT WILSON

PRESIDENT CLEVELAND

Arr Vob. Arr. Feb. 27

Baile Feb. 5 Balls Feb. 28

Arr. Jan 31

Sails Fab. 1

TO SAN FRANCISCO AND LOS ANGELES via JAPAN PRESIDENT TAFT

TO NEW YORK, BAL IMOBE AND BOSTON via PACIFIC COAST AND PANAMA

PRESIDENT FILLMORE

Arr. Feb. 10

Ball Yob, 11

ROUND-THE-WORLD

Via Manita, Singapore, O lombo, Cochin, Bombay, Karachi, Suez, Port Said, Alexandria. Naples, Marsellies, Genoa, New York & Boston. PRESIDENT JEFFERSON

Arr. Jan. 30

WATERMA

Balis Jan. 30

STEAMSHIP CORPORATION

it

1s

effort or fresh wage demands philosophically that "It is use- less for the ordinary investor to or both.

battle against this tide."

NOTICE TO CONSIGNEES

Consignees per

*DENKHOR"

me hereby notified that their cargo

la being discharged into the Hong- Kong Kowloon Wharf & Godown Co's godown where i will be at Consignee riak and subject to the Wharf terms and condition of storage, and where delivery may be obtained.

་

Damaged packaged are to be left In the Godowns for examination by Consignees and the Company's sur

Mcn Carmichael and Clarice, AL 10 am., 23rd January,

1931.

то comply I Use Cemeral Bonded Warehouse Regulation*. Consignees mut lave a Revenue Ofear in attendance when damaged dutiable goods are examined.

No claims will be advallied after the foods have left the steamers sodowns, and all goods remaining undelivered after the 24th JanBAFY, 1051, will be subject to rent.

the

A claims against

stcamor te the under- Inust be precated signed on or before the th February, 1931, or they will not be recognleed.

No Fire Insurance will be affected.

W. R. LOXLEY & CO.,

(CHINA) LTD.,

Aponta,

The amazing success of the NOTICE TO CONSIGNEES new Kenya loan stimulated the Colonial Market.

In the past few days half a so big bankers have dingnosed a serious case of in-

BANKERS' ARGUMENT flation. It does not perhaps need

The nearness of a large-scale a banker to point out that in-

Profits are on the up and up issue of steel stuck (Govern with us flation is

even before

and there are signs that the ment takes over the Iron and the rearmament programme gets policy of restricting dividends Steel Industry on Feb. 15) and properly under way but Interesting note their unntil-is beginning to crumble as it the possibility of a new defence

to

was bound to do when the wage loan to raise some of the money for dealing mous prescription

restriction polley was abandoned needed for rearmament kept with this financial disease.

the T.U.C. But profts are the gilt-edged market in a

Ben Line Steamers, Ltd. by First of all they are agreed

up to on what should not be done. not likely to keep pace with buoyant state. Gains of

were registered but Hongkong, 18th January, 1951, We are perllously close to the the rising production costs and one-half

are now finding the upward trend was reversed Ilmit of our "taxable capacity" many firms

dimculty In great

financing at the end of the week. and any further taxation would stocks of raw materials at their defeat its own purpose, they

present enhanced

prices. This munt,

have of course,

Any further taxation of pro- occurred to the mind of Mr Bits, if it is to contribute any

In the industrial section fur- Galtskell who is now wrestling thing worthwhile to the coun-

bill, the bankers ther signs of a general break- with the problem of raising try's arma

14. "PYKRUUS“ £4,000,000,000 argue, must reduce the rate of away from the dividend freeze something like which, it is estimated, the re- capital investment with ultimate policy caused a fresh spurt in "Rearmament" shares.

Damaged cargo ex this versed will damage to the fabric of na- prices. vised rearmament

were again in demand, Most be surveyed at Holt's programme

Wharf be- intional economy. 19 going to cost the country in

tween 10 am and Noon on January the next three years.

Exactly the same argument is shares benefitted from the new

wave of buying but Many 21 and 25, 1951, and consignees are The case against more taxa- being put forward in reply to

recorded

the 3110 | requeried to have their representa- tion is well put by, Sir Thomas the demand from certain back-10550$

end of the week.

natives present during the survey. Barlow, Chairman of the Dis-bench mombers of the Labour Rubbers and tins had a good

BUTTERFIELD & SWEE trict Bank. He says, "

"Bearing Party for a capital tax.

110 earlier probably week in mind that so much of the If he has dimeulty in deciding hopes of a peaceful settlement nation's income is already taxed

on the question of increasing with China. Gains of up to burden con direct taxation Mr Gaitskell is 5s were made in rubber shares Hongkong. January 22, 1931. heavier hardly be borne by the current hardly on safer ground when but these were not fully held income and

his attention have to may

be he turns

to the and the Market dropped under largely out of savings. possibility of increasing indirect the week-end influences. defence the Government would increase the tobacco tax, beer feature but there too lost ground

at the week-end. nation."

as these extra burdens would So far as direct taxation is have to be borne largely by and women on concerned the limit is undoub-working men

that Any fur- whom tedly close at hand.

Government for their ther large deductions from the depends

continued national war packet would prob- support, such a course would ably lead to a stackening of not find much

away,

CORPORATION Thus, by its extra spending on laxation. lit could, of course, be actively creating new in tnx or entertainment tax. Bul

MOBILE ALA. USA

WATERMAN LINE EXPRESS

FREIGHT SERVICE

FROM U.S. ATLANTIC COAST VIA JAPAN

n. a. "ANDREW JACKSON" ...Due about..... Z1th Feb. 1951 S. 8. "HYSKA"

#

+

DIRECT FOR

12th Mar. 1951

NEW YORK, BALTIMORE & PHILADELPHIA

VIA JAPAN & HONOLULU,

4. 6. "ANDREW JACKSON” ..... Salls about ..........

3. s. "KYSKA"

28th Feb, 1951 13th Mar. 1031

ALSO ACCEPTING TRANSHIPMENT CARGO FOR

GULF PORTS.

WALLEM & CO., LTD.

Agents.

Hongkong & Shanghai Bank Building Telephones:---38041-5

M.V. “LA MARSEILLAISE”

Roundtrip to JAPAN

via Manila

13 days away

his

favour In mind. Nor would he be any happier about increasing the purchase tax. In any case, as puz

Price Freeze purchase tax is charged on the

In America Being Planned

Washington, Jan. 21.

The Office of Price Stabilisa- tion (OPS) almed today at a simultaneous freeze of about 8,000,000 prices by the end of the coming week,

Oils

were

were

on

Dgain -

nt

strong

HONGKONG SHARE MARKET

a fixed percentage of the retail price of Rn article. It

automatically as risca

the price of the article increases-

The volume of business trans- which, as another banker poin- ted out this week, is a further acted on the Stock Exchange this morning was valued ot inflationary tendency.

Having told the patient that $111,103. The half day's bust- closing prices his constitution will not tolerate ness and noon a further dose of taxation the wero bankers

nkers tell him what he must to regain his economle

they He must, health.

say, "Increase productivity" and restrain his appetite for wage increases.

do

NO SOLUTION

to

They do not believe, La the Government was inclined believe in the early days of rearmament planning, greater productivity alone will

SNARES BUYERS SELLERS SALES BANKS

KK Bank

INSURANCES

Union

...... 610 0.45 DOCKS, ETC. K. Wharf N. Pt. Whart Provident

..200

++

71

94

1000 @ 4.30

1000 915

1000

1000

Shal Dock.. Wheelock ...

1000

10

400 100%

HK HK Land

4.70

S'hat Land

1.08

1000 @ 1.10

UTILITIES

11%

C. Light joi

0.10 400 5.80

400 @ 0.00

If they fail to issue the order by that time, OPS ometals think It will be largely because of formalities and mechanicol detalls, not disagreement over policy consultants have est- mated, on the basis of World solve the problem. They mere- Hotel War Two experience, that ly say 11 would help. general controls would apply to On this problem of produc about 8,000,000 different prices

that

and three or fourmi

million com-vity and wages, Mr A. Harold Bibby, Chairman of Martins panies.

Bank, is most eloquent. "Wealth created," he says,

The order will be only tem- cannot be porary, designed to put a brake "Just by taking off a ticket on on the climbing cost of living a pair of shoes valued at £2 опе marked until detailed ceiling prices cou and substituting

be worked out on about-8,000,- £3."

of

Tram

C. Light (N) 3.30

B. Shares

Electric.

Agente.

R. I. L.

ROYAL

INTEROCEAN

• SINGAPORE JAVA PORTS and

MACASSAR

"NIEUW HOLLAND" ± "TJISADANE” ***

"TASMAN" •

"TJIWANGI"

"TJITJALENGKA”

+ to Singapore & Jaya.

LINES

SAILINGS

25th Jan

*ARRIVALS

.In

In

Fort Fort

17th Janu

.In Port

2nd Fob

28th Feb.

9th Feb.

⚫ only to Sturapore, Penang & B, Dell,

not calling at Singapore,

• MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA ***TJIPANAS”

"BOISSEVAIN” "TJISADANE”

"TJIBADAK"

vis Japan.

ARRIVALS

.30th Jan. 20th Jan

1st Feb.

** not calling Manila & 8. Americs.

O JAPAN

"BOISSEVAIN”

"TJIPANAS"

"TJIBADAK”

ARRIVALS

.16th Mar.

11th Feb,

SAILINGS

15th Fob.3 17th Mar 20th Mar

SAILINGS

28th Jazz.

15th Feb.

5th Feb.

Agents: HOLLAND EAST ASIA LINE

⚫ EUROPE via MANILA

and MALAYA

"MELISKERK"

"AAGTEKENK”

"THIWANGI'

Through B9/L

issued

to

Mediterranean and Northern

European Ports.

O JAPAN

"MELISKERK" ↑ "AAGTEKERK" + + vla Manila, SINGSEMINGS

ARRIVALS

5th Feb, 3rd Feb.

ARRIVALS

SAILINGS 10th Feb.

5th Mar.

SAILINGS

Duh Feb, 3th Mar,

10th Feb.

HEIONIST 28013 10.801

The wars our generation has witnessed have brought what ware have always feeling of general insecurity that's the brought disturbances, unrest and a 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 diplomata 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 Isbrandtsen symbols of this philosophy:--

INDEPENDENT

DEPENDABLE

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

3.00 500 3.40 S.S. "FLYING CLOUD"

1000 225

100

140 @ 22

Coment... 10% 11% 1000 11

Kope 'TURES, ETC.

Dalry Wamon COTTONS

Ewo

1014

2.30

industry. Similarly in £ world 000 items industry by

It is no1 INDUSTRIALS The price freeze will exempt salaries and wages

to give those food prices which cannot possible solution

holding additional increase unless there be restrained without holding the Larmers' prices

below is a corresponding Increase in parity. Parity is a long-stand- production. This, in the may ing formula

designed to give jority of cases, he adds, can y

in done without fair income

any increase in hours

full by giving relation to the prices of things ho

The Defence play to the ever-growing mech- must buy,

anisation Production Act says no prices

of industry and by Can be

frozen below parity. greater personal effort by each. Most farm prices now are be- and every individual.

The true nature of the prob-

Sailing from Hongkong 26th January 8 p.m. the farmer

to MANILA, YOKOHAMA and KOBE.

a

Arriving from Japan 8th February, 6 p.m.ow that level.

1st Class

Tourist

ROUNDTRIP FARES

HK$810 to HK$970.

HK$580 and HK$815.

Excursions in Japan arranged on application.

CIE DES MESSAGERIES MARITIMES

Queen's Building

2

Tel. 25661 (3 Lines)

FLIGHTS

WEEKLY

Only

of Wages

rolled

10

are unlikely back. On Government labour say that it is impracticable roll back wages outside totalitarian country-Associat- ed Press:

I

The price freeze will be ac-lem now becomes apparent. companied, or followed shortly Wage-carners cannot bear the

a greater burden of direct taxa by a wage control order. required by the law. This will lion because it would be re- flected in reduced personal probably be a flat freeze, but

now wage claims. a temporary one until the effort and

Industry carmot be taxed any WSB

cut has completed a wage further because it would control formula it is working; 11;

across their capital investment mechanian- to be programme, delay this score,tion and thus put a brake on

productivity. experts

Near as we are to the limit of our laxable capacity." in-

some direction creases in Inevitable, The bankers accept this fatalistically but not with- out reservation. They are in condition full accord

on the which must be attached to any increase in taxation cuts, large cuts in public

expenditure. There is every reason to be- Heve that Government is fully aware of the need to wield a mighty axe in their own de partments. The difficult thing they have to decide is in which direction to swing the axe.

NORTH D

TAIPEH & TOKYO MONDAYS & FRIDAYS

SOUTH B

SINGAPORE via BANGKOK WEDNESDAYS & SUNDAYS.

master COACH SERVICE at reduced rates!

PACIFIC OVERSEAS AIRLINES, SIAM

in deen ding

PENINSULA HOTEL, KOWLOON. PHONE 58865.

STOCK MARKETS

views on

are

now

1000 @ 114

2035 000 20,

130 220

Exchange Rates

was, done in the local exchange market

this

unofficial morning at the following maten:

14.45 Sterling note (per 2) U.S. dollars (per $1)........... B.DEZS 3.90 Indonesia guilders (per 100) Slam Ueals (per 100)

16.63 Singapore (Straite) FIC plastres (per 100)

NOTICE TO CONSIGNEES

CONSIGNEES PER

STATES STEAMSHIP COMPANY

5.6. "CHARLES E, DANT"

are hereby nolthed, that their cargo being discharged inte Use Hong- kong. Kowloon Wharf & Godown co godown where it will be at consignees risk and subject to the Whost's LETME and condition of storage, and where delivery may be obtained.

Damaged packages are to be left in the godowns for examination by Consignees and the Company's Bur- veyors, Mesars. Carmichael & Clarke at 10a.m. on the 22nd January, 1031.

No claims will be admitted after the goods have left the termer's

To comply with the General Bonded Warehouse Begulations con- Not until the last day of the signees must have a Revenue Omeer week were the Stock Markets in attendance when damaged doti. daunted by the uncertainties of able woods are examined. the political

Prices outlook. went ahead in every acction, godown, and all goods remaining reflecting the investors firm undelivered after the zard January,

of 11, will be subject to rent. the possibility fresh ingatlan. Although the

All claims against the steamer not as strong 03 New York counterpart, ne bo presented to the Under signed on or before the 30th Jan24- web is reaching Ito higheatary, 1951, or they will not be re- level of activity for 20 years, comised. it has nevertheless managed to equal its own performance of February 1049. Most observers put this renewed activity down unreservedly to idation and Itongkong. 17th January, 1801,

commentator remarked

Market was

ono...

No Fire Insurance will be effected,

DODWELL, A 10, UTIK Agents

DUE FROM:

New York vin Minila

Feb. 1st

BAILS FOR:

Kobe, Nagoya, Yokohama, Ban, Francisco, Los Angeles, Now York, Baltimore, Philadelphia, Boston vla 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.

Tel: 25946 12-14 Queen's Road Central 4th Floor.

CHINESE AGENTS:

OVERSEA CHINESE STEAMSHIP CO.,

48 Bonham Strand West, 1st Floor.

LTD.

Tels: 26127 & 81119.

Pacific For East Line, Inc.

DIRECT

BAN FRANCISCO, LOS ANGELES

Vesel

"CALIFORNIA BEAR" "PHILIPPINE HEAR”

"EAN_ANGELO.VICTORY".

*J. *. LUCKENBACH" "INDIAN DEAN"'

Fast Regular Trans-Pacific Servico

OVERLAND

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

For

Jan. 23 San Francisco & Los Angeles

Artives

San Francisco

は

San Francisco Jan. 20 San Francisco

Jan 24

straite

Jan 31 Feb. 10

Feb. 19-

Jan.

23.

Fot. LI

Feb. 30

Jan. 31

Singapore. Djakarta, Colombo, 1-Dombay,, Karachi '&_Dasrati San Francisco & 1/0s Angries

via” Japan).

Singapore, Diakarta, Berobayy

Karachi & Basesh,

| DAN TIEDONCS R Les noguión.

Vla. Kobe

For full pactivulaku onli Gizaterai Aponte, Unftéd Blattu Kino Os, Queen's, Building, Tot: 181