1951-03-05 — Page 7

Page

THE CHINA MAIL, MONDAY, MARCH 5, 1951.

MESSAGERIES MARITIMES Headaches

MM

**MEINAM”

ARRIVALS

from Japan

SAILINGS

PASSENGER/FREIGHT SERVICE

"FELLX ROUSSEL" "LA MARSEILLAISE" “LA MARSEILLAISE”

"DÈAUVAIS"

"MEINAM"

GRANVILLE”

to Marseilles via Manlia to Japan

24th Mar,

1st Apr. 8th May to Marseilles vis Maulla 19th May

FREIGHT SERVICE

N. Africa & Europe 8th Mar, N. Atrion & Europe 28th Mar, -N. Africa & Europe 27th Mar.

for

·

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

CIE DES MESsageries maRITIMES Queen's Building

Tel. 26651 (Three Lines)

WATERMAN

STEAMSHIP

For U.S.

Britain Confronted

Business By Serious Shortage

New York, Mar: 4., Rapid changes in prico und wage control regula- tions kept industry and business hopping this week. It was a struggle to keep up becausé of the Govern- ment awitching signals on several of its orders.

Under the changing rules, clothiers had to unfreeze present prices. In the future, the freeze will be on the percentage of mark-up--the margin between what the retailer pays and what he charges customer for na item.

Automobile

manufacturers

received permission to incrensa their prices for new cary 3 per cent

Wage controls were amended

Of

Commodities

(OUR OWN CORRESPONDENT)

London, Mar: 4.

The Labour Government has suffered two week-end, defeats in sue- cession. The second of these, last Friday, was on a private member's motion criticising the Government for not stockpiling vital commodities and for not making more use of private traders to ensure continuity of supplies.

Members listened to a long statement by Mr Harold Wilson, Presi dent of the Board of Trade, in which he outlined the raw material situation with special reference to the now critical shortage" of sulphur.

At the end of it Conservative members were, still far from satisfied that the Government was

to permit payment of cost of doing all in its power to build up the nation's HONGKONG

living increases above the

stocks of those commodities which will be most ceilings recently imposed.

The

reaction of many necessary to enable the rearmament programme businessmen to the price and to be carried out. wage control changes was that they would like to see a little stability the stabilisation

programme,

CORPORATION Industry were not confined to crimination, tempting

MOBILE ALA USA

WATERMAN LINE EXPRESS

FREIGHT SERVICE

FROM US. ATLANTIC COAST VIA JAPAN

4. a. “KYSKA”

Due about

DIRECT FOR

21st Mar. 1951

NEW YORK, BALTIMORE & PHILADELPHIA VIA JAPAN & HONOLULU.

4.1, "KYSKA”

Salls about 22nd Mar. 1981 ALSO ACCEPTING TRANSHIPMENT CARGO FOR

GULF PORTS.

WALLEM

& CO.,

LTD.

Agents

Hongkong & Shanghai Bank Building

Telephones:-38041-5

GREAT SALE

RUGS

PALACE RUG CO. 4. Granville Rd., 1st Fl. Kowloon.

PRESS PHOTOGRAPHS

Copics

of

photographs

The worries of business and

controls alone. The big woollen and worsted mills still

were shut down by a, wage dispute. Labour trouble threatened in the cotton

and

rayon industries. General Electric sala It would sell its Oakland, Calif., trans- former plant, closed since last last

by a strike, October Production remained high, however. high level

to keep

ย

The

SHARE

MARKET

of

volume

business transacted on the Stock Exchange this morning was $178,230,80. The half day's business and noon closing prices were as follow!

SHARES BUYERS SELLERS HALES DANKS

4 @ 1300

IK Bank East Anda

INSURANCES

Canton Union

1900 XD

101

It would be dangerously easy| suffident quantities to ensure to join in the condemnation of a steady outflow of defence the Government but what we equipment, which is by no means. desperately need now is not re-something that can be taken though for granted) we find that there that might be, on purely political are very few commodities which grounds but a way out of a are in anything like adequate situation that is becoming more supply. critical for every day action is So far as foods are concerned delayed.

(and

food has the lion's share of the money set aside for stock- "The Economist" says piling) that cocoa, sugar and possibly. wheat alone among the staple when

are likely to bo foodstuffs available in large quantities this year. Those three commodities constitute a strategic stockpile of food,

On the raw material side metal is in practically every

degrees of shortage. varying Such metals as copper,

zinc, nickel,

chrome, DOCKS, ETC. tungsten, molybdenum and some other alloy metals will be extremely difficult to obtain but without

TestTVCS of

these sufficient

the country materiala

cannot feel adequately prepared for the worst that could happen.

So far as the merits of private trading are concerned Mr Wilson pointext out quite justinably that commodities for which there are free markets have experienced It had to stay at the same rise in price as those

ahead of | mounting military contracta." which are bought on Govern- alone could hardly be said to

General Motors Corporation, ment account. for instance, announced it had

It might be added that if the recived more than US$3,000,- Government is to blame for not 000,000 worth of defence orders, starting to accumulate stocks This is about one-fourth the before shortages and high prices dollar volume of military goods overtook it, private businessmen In- General Motors made during were no more prescient. World War IL-Associated dustrial stocks generally are Pressi.

Below what is considered

Is normal level, and this applies just

much

freely modities which are available in world markets.

Worth St. Trading Held Down

Corn-

RODO HOUSE at 100s of widespread building up a stockpile of those

EMBARGO POINTLESS

Little could be obtained for our own stockpile by banning exports of raw materials to the iron curtain countries.

Except for rubber the amounts of raw materials which we export to these countries are

very small

and we would probably stand

to lose more than we would the gain from an all-out trade

embargo.

Mr Wilson pointed out that when goods were available, dollars were not, and when the dollar position improved, the commodities were not there. But But this only applies to commodities which are bought in the dollar atch. The Government's critics are on safer ground when they New York, Mar. 4. The price ceiling uncertainties blame the Government for not

strikes in cotton and rayon commodities of which the 249, Tal Po Road, Kowloon, mills continued to hold business | sterling countries

Tel. 60976

down last week in the Worth principal producers and which it Cable Address: "RODOḤOUSE" Street cotton goods trade. is now belatedly trying to ac-

The suspension of trading inquire. 1st class and comfortable

spot cotton and futures markets living

available quartere

for the fifth week and signs of moderate prices.

increased buyer resistance to Meals are cheap (38 for 3 high prices

goods of finished meals) but they are wholesome. further complicated the picture

political events overtook Hotel Car provided for our for mills attempting

more concerned with building guest.

plans. formulate future

up dollar reserves than with Roglater in the RODO HOUSE

Burlap trading remained at a UP

building up commodity reserves. virtual standstill. while Y. H. CHAN,

It is now being criticised for trade awalled a decision Manager. ceiling prices.

One report said not still having the cake it has that American Interesta first already caten. would seek to obtain from India

now.

ESSENTIAL

SUPPLIES

CERTIFICATES

Application Forms

at

for

Certifi-

to

on

THE QUESTION

comi-

Underwriters

NK O** SHIPPING

10 GA 30

8

677,50

143

Asik Nav. 000

K. Wharf ... $1,50

P. Where 5.100%

13 Providone 1134 Shal Dock.

LAND, ETC.

HK Hold..

HK Land Humphreys UTILITIES

Tram ....

Star Ferry

C. Light (0) C. Lin (Bonus)

Electria

Cement Норе

STORES, ETC.

Daly

The Government's hopes now phem to be concentrated on the INDUSTTUALS cutcome of the various modity groups which are being There can be no doubt that set up in Washington. If some-

Government

11th beag enn be dode to ensure a Wos,

It,

of more equitable distribution available sup

supplica among the free nations by a reduction in Am American abockpiling these hopes Failing may yet be realised. that, the building up of strategie cán only be accompanied Nirther restrictions

The Government has already Civilian consumption a de-

12%

0.00

Dairy (New) 114 Watron

20% XD L. Crawford 2115

12,90

3 5000 @ 2,585

500 € 5.50

អ

R.I.L.

ROYAL

INTEROCEAN.

• SINGAPORE JAVA PORTS and MACASSAR **TASMAN”. “ **TITEJALENGKA" "VAN BEUT8Z” * "TJIWANGI"

ARRIVALS

In Port

16th Mar.

.27th Mar.

⚫ only to Bingapore, Penang & Dell.

MANILA, EAST &

SOUTH AFRICA and SOUTH AMERICA "TJISADANE” ↑ "TIIPANAB” "TJIBÉJAR” •*

+ "BOISSKVAIN?” "STRAAT SOENDA”

• JAPAN

: ARRIVALS

In

Port

LINES

SAILINGS 7th Hir. 18th Mar. 24th.Mar.

1st Apr.

SAILINGS

700 HERE. -19th Mar

**

La Port not proceeding to 8. Americn.

5th Apr.

† not calling Manila.

ARRIVALS

SAILINGS

.14th Mar,

.20th Mar.

.28th Mar.

18th Mar.

4th Apr,

"THPANAS”

"TIIDE:AR”

"BOISSEVAIN”

"VAN HEUTEZ”

"STRAAT SOENDA”

20th Mar,

Agents: HOLLAND EAST ASIA LINE

EUROPE við MANILA

and MALAYA *AAGTEKERK”

"ALMKERK” "LANGLEESOOT"

Through 'Bi/Led to Mediterranean and Northern European Porta.

JAPAN

“AAGTEKERK” ↑ "ALMKERK” + "LANGLEESCOT”

+ via Manila,

ARRIVALS

.20th Mar, .Mia, Apr.

ARRIVALS .10th Mar, ....2nd week Apr.

May

SAILINGS 11th Mar. 2nd wook Apt. MAY

SAILINGS

26th Bar. MIA, Apr.

KIMOS BELDINGE KLEPHONES AMATOR2m7.

SRRECTUMISERADENÍ SERZIOISA AUDITZHGADZIZIMASEUDUJVE,

MAERSK LINE

FAST FORTNIGH TLY SERVICE TO: ~

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis SAN FRANCISCO, LOS ANGELES AND PANAMA

NEXT SAILINGS

M.S. "LAURA MAERSK"

M.S. “HULDA MAERSK”

M.S. "TREIN MAERSK"

Mar. 15

Mar 80

Apr. 14

TANKS OF ALL SIZES AVAILABLE FOR BULK OIL

ARRIVALS FROM U.S.A.

400

1000 @ 15

M.S. "TREIN MAERSK”

M.S.

Exchange Rates

Busines

this

to maintain the announced that £140,000,000 is civi

was done by the loc commitments present celling prices on export to be spent on stockpiling in the privation which would inevitably unofficial exchange, market

morning, at the Zollnetner -rated- ing in bebe borse for the most part by a note (per 4).... burlap before the United States year 1951-52.

the home market or in com- U.S. dollars (per Ministry makes it plans for dollars divided between and cents ceilings here.United

pethion with other stockpiling Indonesia kunders (per 1005... authorities-tits giving the im-Ban cal per 100)

Aingrøder. (Strakti) inflationary FTC pretres (per 100) Petus to another price spiral.

Pres.

Tin Conference

But

This

the taken by the South China

of Food, the Ministry of Supply and the Board of Trade. Morning Post, South China

the mere fact of setting aside Sunday Post-Herald, China

money for accumulating strategic stockpile does not add Mail and Hong Kong Tola-

a single day's supply to our depleted stocks. Washington, Mar, 4.

The questiba graph Staff Photographers Essential Supplies

not so

so much

whether we have A diplomatic melul told the the money as whether supplies catės may be obtained from United Press that the State will be available for us to buy. Department had fixed March 14 South China Morning Post as the date for holding a pre-spent on stockpiling could be Even if the total amount to be liminary tin conference here to used for acquiring commodities Limited.

consider setting up a tin alloca we would most like to put by, tlons committee under the cen- tral allocations group.-United We would Press,

are on view in the Morning Post Building.

ORDERS BOOKED

10 CENTS EACH.

2 FLIGHTS WEEKLY!

IT CO-OPERATION WITH CAT

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SOUTH Io

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WEDNESDAYS A. SUNDAYA

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PACIFIC OVERSEAS AIRLINES, SIAM

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PENINSULA HOTEL, KOWLOON. PHONE 50045.

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Dorcy

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*PHILIPPINE BEARS?

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Yokoham

Saa Pemachico & Lom Angsion

STOCK EXCHANGE Rubbers provided the wock's highlight in the Stock Exchange. The boom started on Thursday and gained such momentum that prices went ahead by as much Jobbers were unable to keep up as three and four shillings." with the rush to buy and were roun short of stock, leaving them no alternativo but to raise prices

further to

to bring in sellers. Other commodity shares con- thued their advance. Sical gains have been fully held on the higher price of the com- modity and the benefits gained by the change of domicile.

Gilt-edged

made gains and

still have only a pitifully small reserve to fall back on in the event of war. The foot must be ideed that i War comes the free world might be cut off from some sources of vital raw materials and the sequisition of others would be come even more difficult than It is today (although in total war, expense would no longer el dock ended the week at its highest Level Several [be a deterrent),

Colonial 1 borrowers are awaiting We could, it is true, build up an opportunity to enter the useful

stock of raw materials market but it is believed they by further

restricting civilian will hold off until the market consumption but there are strong has been "groomed.” reasons why the Government is hesitating to do this, For one)

civilian consumption of commodities has already been restricted to make greater supplica available to industries engaged in rearmament work. To extend these controls would undoubtedly cause some unem- ployment, and the présent Government could hardly do this without inviting criticism from its own supporters.

certain

NO ALTERNATIVE

Japanese

Industrial

Mission

Tokyo, Mar. 4. ́ ́· But the real reason why the Mr Shigeru Yoshida, is selecting The Japanese Prime Minister, "civilinn" producer cannot be entirely deprived of those raw members for a special "Industrial materials of which shortages mission" to be despatched to the exist is in simple fact that the United States shortly, according country is not. ́at whr.

to One

the Kyodo news agency often hears it said that if we today. managed to do those things The despatch-of-key-indus-? through ave years of total war trialsts will be separate from why on earth can't we do them the proposed despatch of the now that we are at peace? The Finance Minister, Mr Haysto anewer le simply that we are Ikeda, and the Prime •Miniator's (technically at least) at peace, personal Indivimor, · Mr Jiro Much can be done in wartime Buram, to Waington to ox that no government would oon podite the settlement of a praco template dolbg in

peacetime.

said:

Nevertheless the present altus-

Lion

JOUYOR? DO alternative to

Industrial mlation will be

greater: two of controls to limit posed principally of sup

Ipvel businy civilan consumption of row concludl

maderiala :: that are: Ingently

needed for the rearmament pro

gramme and

PETER MAERSK”

M.S. "LEXA MAERSK”

Mar. 14

Mar. 23

Apr. 21

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Pedder Building,

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