1951-03-07 — Page 7

THE CHINA MAIL, WEDNESDAY, MARCH 7, 1951.

MESSAGERIES MARITIMES London Stocks Strong Reaction In

M&

"MEINAM"

ARRIVALS

from Japan SAILINGS

M

....................... 24th Mar,

PASSENGER/FREIGHT SERVICE

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

"MEINAM"

"GRANVILLE"

"CDT DORISK”

to Marseilles vis Manila at Apr. 8th May to Jupan

to Marseilles vis Manila 19th May

FREIGHT BERVICE

.N. Africa & Europe 25th Mar, N. Africs & Europe 27th Mar, .N. Africa & Europe 28th Apr,

for

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

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Three Lines)

WATERMAN

STEAMSHIP EX CORPORATION

Easier

London, Mat, B.

The London Stock Ex- change was mainly easier today under the influence -of-the-recent-- downward trend in Wall Street and while awalling tonight's statement on the economio siidation by Chancellor of the Exchequer Hugh

Gatiskell

Profi-laking depressed rubbers and lins and there were widespread #mall declines. In indpstrials and gilt-edged.

Otis and minings followed the prevailing. trend.

Financial Times' Indece 121.1, of 1.3.-——Associated Press

Britain To American

Criticism Over Tin

(OUR OWN CORRESPONDENT)

London, Mar. 6.

The report of the United States Senate Preparedness Sub-com- mittee on the price of tin has led to some of the most uninhibited com- ment heard on the subject of raw materials since the Korean crisis began.

The report could not have been published at↑ a worse time. Nor could its indiscreet wording] have been better designed to provoke the already ruffled temper of British opinion in regard to the

Weakness On U.S. raw materials policy. Wall Street Continues

Now York, Mar. 6, Weakness persisted in the despite market today

alock

CORPORATION buyers Hlaing General Motors

MOBILE ALA USA

WATERMAN LINE EXPRESS

FREIGHT SERVICE

FROM US. ATLANTIC COAST VIA JAPAN

1. "KYBEA"

Due about..... 21st Mar.

DIRECT FOR

NEW YORK, BALTIMORE & PHILADELPHIA VIA JAPAN & HONOLULU."

1. "KYSKA”

1951

Sails about.... 22nd Mar. 1951

ALSO ACCEPTING TRANSHIPMENT CARGO FOR

GULF PORTS.

WALLEM & CO., LTD.

Agents

Hongkong & Shanghai Bank Building Telephones:-38041-5

MAERSK LINE

FAST FORTNIGHTLY 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❞

.

TANKS OF ALL SIZES AVAILABLE FOR BULK OIL

ARRIVALS FROM U.S.A.

M.S.

TREIN MAERSK"

M.S. "PETER MAERSK”

M.S. "LEXA MAERSK”

and

Packard. These stocks stood out on the

the up-side as result of carnings and orders.

The remainder of the market withi the narrowly sagged

WIN heaviest losses barely reaching a dollar. Volume of trading was again small at 1,500,000 shares.

Rails as a group did fairly well in early trading and later still turned in a better performance than the market as a whole.

U.S. Government securities in

market over-the-counter were affected by the US. Trea- sury's new interest rate policy. The 2% percent bank eligibles of 1907-72 sold off as much as 10/32 of a point. Offerings were heavy, but actual sales were Hight. The rest of the Govern- ment market was steady. The corporate

bond market WIS slightly lower.

the

The curb market was narrowly mixed with trading netive.

Dow Jones averages:

Stocks

20 Industrials

15 Rails

10 Utilities

Its criticism of Eastern producers and its im- plied threat to free markets do not meet favour in a country which is virtually starved of raw materials

some of the most important of which American origin.

་

HONGKONG

SHARE MARKET

on the

·

and noon Ds follow; QUARES BUYERS SELLERS BALES BANKS

XK Bank .. 1500 XD East Ant

aro

of

Slump In American

Silk Stocks

bales of

New York, Mar. 0. Government

badly Raw silk on hand at the end? shaken by the adverse yote in the Commons on Friday on she of February slumped to 0,018 private member's meilon criticis-bales, including 35 ing them for their failure to Japanese silk on the pier, com- build up a stockpile of strategic pared with 8,125 bales on Jan commodities. It is now an open 31, the American Silk Council

21 reported today.

secret that Government

worried about seriously materials shortages and Mr Hugh Gaitskell,

Chancellor of the Exchequer, is due to go on the

with

Not sur-

Of the stock on hand, Japanese silk represented 4,408 baler;

The

air tonight to explain the effects China 2,354 bales and Italy 151 tho special bales. Stocks on hand in The volume of business of rearmament transacted

reference to these shortages. Stock Ex-

same month of last year were change this morning was $227, that the Senate Sub-committee's received during February 3,300 It was against this background 8,356 bales. Or 4,020 bales 059.80. The half day's business report was received.

closing prices were prisingly, therefore, comment on bales were from Japan 620 from

me China and 95 from Italy. [it has not been on - the same Polite level as recent discussions total compared with 4,079 bales on this problem. If one or two received during January and painful home truths" have been 4,464 bales during February last uttered

is not to be year. wondered at.

Total imports in this year were The Financial Times, which is usually restrained in its com 8,103 bales, compared with 10,118 nent

when Angio-American reales in the come period of last lations are in danger, today fires year-United Press, 300 a 13.45 all its big Juns in defence of tin 500 @ 13.50 producers. It says, "the Mala-

INSURANCES

Canton

Union

Underwriters DOCKS, ETC..

K. Whart N. P. Whart

101

755

070

10 @ 200

3.10

Dock ....... 1334

Provident... 21% Shal Dock 2.09 Wheelock 1034 3.08 Yangiares... LAND, ETC.

93.01

251.55

HK Hotel

$4.00

IIK Land

43.41

-Associated Press.

The Rubber

Markets

New York, Mar. 6.

closed today Rubber futures 100 points higher to 100 points lower, with sales of 0 contracts for May delivery at 70 cents a pound. In the spot market. dealers reported that the Gov ernment had obtained fair quantities of rubber from Slam and Indonesia.

Prices closed today 48 follow-

S'PORE MARKET

13.00

13.00 bid

S'hat Land Humphreys UTILITIES

Tram XD

•

Star Ferry..

C. Light (0)

C. Light (N) C. Light

B.55 XD

600 à 38 1.35 1.48 3000 @ 1.42

8 XD

to yan answer

the report is that "in the first place the producers do not and cannot control the price of tin; secondly since the war that producilon has

the maximum beon at possible; thirdly that American themselves largely buyers are responsible for the present price; and finally that since the Ameri cans would not agree

on the 5.50 scheme for control Inst Novem

ber mey have the couse to complain now.”

11% 1000 116

11

6:10 000 @ 6 3.76

B. Share 5.00

Electric XD INDUSTRIALS

Rope XD... STORES, ETC.

Dalry ..........

5.70 233

1500 5.70 2315 200 2314

124

13 1331⁄2 5000 @ 13 1400, 13

400 @ 13 700 23 500 13.25

200 @ 12 2000 61134 000113

18 300 171)

Dairy (X) Watson

.. 11

XD

Crawford

2.70

COTTONS

Ewo

2007

1000 ✪ 173

NEW YORK BANK QUOTATIONS

New York, Mar. 6. Closing bank quotations; Bank of

26% bid, 264

Spot

March

Mar. 16.

May

68.00 bld

July

03.09 bia

Mar 30

Unlied Press.

Apr. 14

Singapore, Mar 0. Prices of rubber futures closed

hore today as follows:-m

America

Number 1 rubber. bar ib.

March

April

22535

Chase

National

Mar. 14

May

Mar. 23

Apr. 21

Number 2 rubber, March Number 3 rubber, March.. Number 4 rubber, March Spot rubber unbaled Black crepe ........

220-221 210-220

300-207

National City

106-197

2295734

asked 48% bid, 50% asked -Associated Press.

*

163-185

230-235

For Freights and Further Particulars please apply to:- No. 1 pale crepe ......

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 26661-8.

Fly CAT

REGULAR SERVICES

in association with other carriers

--Ünited Pick. LONDON MARKET

London, Mar. 0. Prices of rubber futures closed here today as follows:--- Number 1 rubber, in cents

Der ib. April

April/June Juty/Beptember

October/Dececabar

naked

30% bld. 41%

TALKS PREJUDICKD An International tin

COD- ference foreshadowed 'by your correspondent some time ago will be brought a step nearer at a preliminary meeting due to open at Washington on March 14 to discuss the proposal for a tin The success commodity group.

of this meeting must, however, be prejudiced by the remarks of the Senate Sub-committee and by the fact that an international tin conference at Geneva last November failed because of the attitude towards international control.

American

_The_Financial Timos makes a pointed reference to this in its cultorial this morning. It says the report of the Sub-committee will hardly sweeten the atmosphere for the preliminary

R.I.L.

ROYAL

INTEROCEAN

• SINGAPORE JAVA - PORTS and MACASSAR

"TASMAN" •

"TJITJALENGKA" **

*VAN HEUTS2" **

"TJIWANGI"

ARRIVALS

In Port ..........16th Msg.

27th Mar,

* only to Bingapore, Penang & D. Dell.

**

not calling Singapore.

• MANILA, EAST. &

* SOUTH AFRICA and

SOUTH AMERICA "TJISADANE” ↑

"TJIPANAS"

"TJIBESAR" **

"BOISSEVAIN"

"STRAAT SOENDA”

In

ARRIVALS Port

LINES

·SAILINGS.

7th Bour. 18th Mar

SAILINGS Yth Mar 19th Mar,

28th Mar

In Port

5th Apr.

** not proceeding to fl. Americs.

† nos calling Manila.

• JAPAN

"TJIPANAS?

"TJIBEBAR" "BOISSEVAINT

"VAN HEUTSZ”

"STRAAT SOENDA"

į..

ARRIVALS

14th Mar, «201** Bar.

24th Mar.

SAILINGS

18th Mar.

4th, Apr.

20th Mar.

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"AAGTEKERA”

"ALMKERK"

"LANGLEESCOT"

Through B#/L. larped to Mediterranean and Northern Europesa Porta.

JAPAN

"AAGTEKERE” + "ALMKERK" + “LANGLEESCOT”

✦ via Manila,

ARRIVALS

SAILINGS 18th Mar.

20th Mar, Mid. APT.

End wack Apr.

ARRIVALS ..12th Mar. ...........2nd week Apr. May

SAILINGS

26th Mar. Mid, AUF.

RING'S BUJEDINCZELCEDONISEQUENZAROTE

| SZERHANNELAGENORISAL LOANMOBLE MAKEOUSING AD

ISBRANDTSEN

Understanding between nations and peoples, fostered by the bonds of industry and commerce--the necessary flow of goods that keeps the wheels turning all over the world-is basic to peace.

It is our fervent hope-one which we believe is almost universally shared that the statesmen on both sides of any and all existing disputes and misunderstandings will get together and set things to rights. We still hold to the view that mutual trade does most to promote friendship and understanding between nations and peoples, and that we, as business men, should argue that point wherever and whenever we can:- Isbrandtsen

INDEPENDENT

!

DEPENDABLE

Fast Direct Sallings to JAPAN and

WEST COAST-U.S.A.—EAST COAST

meeting..... at least, however, with transhipment cargo accepted for Jamaica, Havana and other Cuban Ports, it has brought out into the open the issues that the committee will-have to face."

As it was precisely those samo issues which caused the last liternational in conference to break down, hopes for a success.. ful agreement now must recedo

tone of the 'oflelal American re- part

Exchange Rates as stilt of the provocative

Business was done in the focal uncficial, exchange market this moralby: at the folowing Fric 72-4-23-14 69-14-54

15.55 Sterling noto (ver 2) 65+67

deuts U.S. dollars (për $1)

Indonesia guilders (per 100)

35-14

Riam teal (per 100)

tiominal -United Press.

Singapore (Straits),

FIC plastres (per 100)

East Germany Big

Supplier

Of

HONGKONG – TAIPEH-TOKYO Communist China

€46-DC-3-DC4 Aircraft

Monday Tuesday Wednesday

Thursday. Friday

Arstra

LARVO

Arrive

Leipzig, Mar. 6. Communist East Germany is second only to HONGKONG TAIKE TAIKH HONGKONG the Soviet Union as supplier of Communist China,

08:00 11:80 12:15 15:46

it was announced here today. 18:00 16:00 09:00 12:00 18:00. 16:00 09:00 12:00 '08:00 11:80 12:15 16:46 18:00. 16:00 09:00 12:00 08:00 11:80 12:16 18:45

Grain Prices In Chicago

Chicago, Mar, 6..

Prices of grain futures closed

here today as follows

Wheat fries par inabal

Spot

1.42

March

うー

May

July

September

December

2,03/2011

Corn

Spot

March

1.763

·MAY

December

July September

1.77.

By

Ma

1.854-1.08

July

Date March New

George, Handtke, Minister of Foreign Trade for the East German Government, told a Prèss 13.10. conference, "We follow the Soviet Union in trade with the People's Republic of China as a result of Express Skymaster Service At Reduced Ratos our trade agreement."

Saturday

TAIPEH

0036

Flour-per 200 155, sack.

Cotton Trading

To Resume

tho

p.m.,

and other Eastern Even bigger exports would be China sent to both China and the Bo-European States. Leave

Arrive

Nonetheless, ho viet Union in the next year al-

ropeatedly

New York, Mar. 6. HONGKONG 17:00 Mon., Fri

20:00 Mon, FL though he lambasted the West demanded that trade between

The Board of Managers of

Now York Cotton TÀIFER 22:00 Mon, Fr. ТОКХО 00:20 Turn, Sut, German Republic and "Ameri East and West Germany he

can imperialists for proventing restored: At the same time. He change

declared that the West

decided today ✅ to re- TOKYO 20:30 Tuts. Bat. ТАРКИ 02:44 Wod, Bun. inter German trade.

bach West Would same trading in cotton futures Hondike said a largo Chinese bave

to

"at 1800 hrs, GMT (11 HONGKONG 07:00 Wed., Bupations in Leipzig for the principle of our trade polley Hongkong time) on Thursday. TAPEU 04:15 Wed., Bar.

Fair which opened! on Monday that tindo depended jüpen 2. Trading fhraw cotton Was SPECIAL EXCURSION RATES

to negellate further exchanges which nation the East Germans suspended in January following and that the Arst ship' bearing considered friendly wife said

the Imposition of the Governs cargo from China for East Ger Russia and China are on his ment wage and price tracks. **** many had arrived at Antwerp Int inst Week and was on route Industrial minces reported United Press,

Handke

not give any that the orhnary mast German any exports to China included ma= figures: on East German exe tools and agricultural mas centage barta

CIVIL AIR TRANSPORT

Booking Offices!

PENINSULA ARCADE. KOWLOON. Tel: 58758 CHINA

SERVICE,

Road. C.

the thakalutyan Ortinmay exports had been-stren an assignment to

Wheat Quotation

"Winnipeg" NOTIK

"mmit ""countrie

day

also Venezuela, at

COMPETITIVE RATES OF FREIGHT:

DUE FROM:

s.s. "FLYING, INDEPENDENT” New York vin

Manila. Third Weok 01 March.

SAILS. FOR:

Kobe, Nagoya,;` Yokohama, San Francisco, Los Angeles, New

Baltimore, - York, Philadelphia,

MOJPOSI

Panama Canal: · Third Wook of March,

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: 25846

CHINESE AGENTS:

OVERSEA CHINESE STEAMSHIP CO.,

48 Bonham Strand West, 1st Floor.

LTD.

Tela: 20127 & 81119,

Pacific Far East Line, Inc.

Fast Regular Terns-Pacifio Service

LOVERLAND BOARD DETROIT- MONTERALS AND "ARL AMIBIGAN: W.GAM

SAN FRANCISCO, LOS ANGELES

Утоя

Mat

Mar. 16

3. LUCKENBACI