1951-03-08 — Page 7

Page

MESSAGERIES

MARITIMES

THE CHINA MAIL, THURSDAY, MARCH 8, 1951.

Widening American Tin Decision

M&M Demand For

""MEINAM”

ARRIVALS

from Japan SAILINGS

PASSENGER/FR EIGHT SERVICE

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

"MEINAM"

"GRANVILLE"

"CDT DORISE"

24th Mar,

to Marselles via Manila 1st Apr. to Japan

8th May to Marsellies via Manila 10th May

FREIGHT SERVICE

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

for

port baid, tUNIS, MARSEILLES, ALGIERS, ORAN,

CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM,

TANGIER,

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Three Lincs),

WATERMAN

STEAMSHIP CORPORATION

MOBILE ALA USA

WATERMAN LINE EXPRESS FREIGHT SERVICE

FROM U.S. ATLANTIC COAST VIA JAPAN

*. ■. "KYSKA"

Due about

DIRECT FOR

Auto Shares Causes Sharp Drops

In World Markets

LEADS TO GAINS

IN WALL ST.

QU-

New York, Mar. 7. Widening demand for tomobile shares spread through the stock market today and pushed prices higher all around, Galns were not specta- cular, most of them

being around A dollar. There

also

were some scattered losses gu-

Ing beyond a dollar.

Volume of trading expanded to nearly 2,000,000 Mars,

and General Motors Packard

(OUR OWN CORRESPONDENT)

London, Mar. 7.

R.I.L.

ROYAL

INTEROCEAN...

• SINGAPORE JAVA PORTS and MACASSAR "TJITJALENGKA* ** "VAN HEUTSZ” • *"TJIWANGI"

Suspension of all new purchases of tin for the American stockpile will probably bring the price of the metal down to about £1,000 a ton from its present level of £1,325 a ton within a few days, it is authoritatively⚫ believed here.

Before the London Metal Exchange opened ware most selive, as they were this morning dealers were speaking of an im-

mediate fall of about £100 in price.

of

on Tuesday on the basis G.M. earnings and Packard war orders. Chrysler

Stude- baker today, however, made the best progress in price.

Steds and rails joined in the milly. Both Eastman Kodak and Distlers Corporation made a fine showing in their own sec- tions after good earrings paris,

submarine plane.

and

pur- that

HONGKONG SHARE MARKET

But it is not believed that all American chases of tin will cease. It ia pointed out America still has long-term.contracts with Indonesia and Belgium for the purchase of tin and these con- tracts are not thought to be affected by the American decision.

and

he

forecast

nervousness further price declines.

Malayan tin exports totalled 5,412 long, tona In February, against 4,514 in January. The U.S. received 1,200 tons Associated Press.

London Stock

The price which the Americans; Glenn Martin forged ahead in pay for tin under these contracts, aircrafts. The company an-however, la pagged to the cur nounced its fourth order from rent world price, and if the the Navy for its new anti-Americans succeed in forcing down the price by boycotting the world markets-as it is believed they will-the

they obtain under

contracts will be correspondingly cheaper.

The Americans are thought to be thinking in terms of tin at about 2970 £1,000

too that is the average price ruling from the outbreak of the Korean war to the end of last year. This is the "reasonable price" they are belleved to have in mind.”

But

It is being stressed most strongly in London that the Americans have very little cause The Stock Exchange was un-

The curb market haid a slight edge on the upside. Moving up were Hartford Rayon, Northeast Airlines, Raytheon, Apex Elec- trical, Cosden Petroleum Electric Bond and Share.

bank eligible Long- Government bands steadied somewhat in quiet trading on the bond market.

21st Mar, 1951

Dow Jones averages: Stocks ....

20 Industrials

15 Rails

03.03 252.45 85,01

10 Ualities.

43.42

NEW YORK, BALTIMORE & PHILADELPHIA

4. R. "HYSKA"

VIA JAPAN & HONOLULU,

Balls 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❞

Mar. 18

Mar 30 Apr. 14

TANKS OF ALL SIZES AVAILABLE FOR BULK OIL

ARRIVALS FROM U.S.A.

M.S. "PETER MAERSK"

M.S. "LEXA MAERSK"

·M.S.

"SALLY MAERSK"

Mar. 29 Apr. 21 May 8

►

-Associated Press.

Grain Price

In Chicago

to

to complain about the current

:

Exchange Unsettled

London, Mar. 7.

was

int

The

of volume

business transacted on the Stock Ex- 550. The half day's business change this morning was $109,-

and noon closing prices were as follow:

SHARES BUYERS SELLERS JALES BANKS

HK Bank XD 1330 10 @ 1320 East Asia

27 101 INSURANCES

Canion Underwriters

DOCKS, ETC,

K. Wherf

320

al

N. P. Wharf

Dock

1000 5.19

400

Provident

S'hat Dock Wheelock

11 2.75

13 500 @ 12

213% 300 @ 209% 000 20%

5.00 500 5.45

1.45

LAND, ETC.

it fotel XD HK Land S'hai Land

.. 371

Tram XD. 111⁄2 111⁄2 1000 @ 11.50 Star Ferry 6314

C. Light (0) 6.05 0.10 C. Light (N)

world trend of raw material settled but mainly easier today. Falls were particularly marked prices. It was pointed out today in oils but final levels general-UTILITIES by a company which deals not ly were above the lowest, Rub- only in tin but in all non-bers and tins met fresh selling ferrous metals that the price of and there

dullness zine has risen by foreign bonds and gold shares. American 300

per cent and moreover the

Industrials and gill-edged metal cannot be obtained.

were quietly maintained. Now they are "squealing" be- News of the assassination of cause the price of in has risen

Premier All Razmars by 80 per

dropped Anglo-Iranian Oil Ave Nobody here 1s prepared to shillings to 115 shillings. The predict the full effect of the stock rallied to 117/9 at 2.40

American decision

tin close. on the 2.43% price but it is believed

that 2.4412-

Persian Chiengo, Mar. 7.

Prices of grath futures closed here today as follows-

Wheat-piere per bushel

Spot

March

May

July

September

December

Cern

the

2.48-2.401here will be 'n big reduction in brspension of U.S. stockpiling |

2.4074:2.40 u

tin' shares down 2.459-45 rice due to lack of buyers

price the next few days.

2/10 d. to 30/~~ Tin Financial Times' index 121,0. during

extremely sensitive to world conditions and when the world's 1827-1.03 biggest buyer withdraws from

1.04-1.04 1.812-

Spot

March

1.81 12703

May.

July

September

December

1.7132

fyr

May

1.894

July

1.0014-16

Dais

March May

0214 bid 0036-** New York four-per 200 15. sack. $13.20.- United Press.

Associated Press.

the market and the commodity New York Sugar

is in fairly easy

result is obvious. ut present, the resupply, as it is

A PISTOL The tone of the Senate pre- paredness sub-committee's re- port on the price of tin, with to "price gouging," is reference to still rankles here. Some quar ters of the London metal trade belleve

Anglo-Argentine holding a pistol to the

Americans are

Trade Talks

Buenos Aires, Mar. 7.

Futures

New York, Mar. 7, World sugar. futures closed today 1 to 2 higher, with sales totaling 951 contracts.

Contract No. 4 closed today

Prices closed today as follows:

6.40 bid 549 bid

5.15 nominai

5.45

Contract No. 6

that

1 higher to 3 lower, with sales pro- totalling 270 contracts, ducers head before pressing the demand for international allo- | Contract No. 4 (world) cation of tin. A report The heads of the British and day says the American Bureau September

of Mines, a Government Argentine delegations to the partment, states that free stock de- trade talks held a two-hour of un in America at present closed conference this evening, outside the stockpile-would be September substituting it for the plenary enough to meet the basic needs Spot

eling of the Anglo-Argentine of the industry for two years.

"On that basis," the Bureau

Commission,

May

from America to July

Spot

May

July

„B.40 bid.

0.02 bid

0.07 bid

1.45

United Press.

MARKET

At the end of the conference, suye, "in producers are going COTTON TEXTILE the British representative, Mr to have an awful lot of tin on Edwards, sald he

und the their hands if they Argentine delegate had a cor-delay being reasonable dial and long exchange nt prices," viewpoints and ideas on all

For Freights and Further Particulars please apply to:-problems

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 26661-3.

The Rubber Hectic Time

Markets Ahead In

New York, Mar. 7. Rubber futures closed 100 points lower, with sales of 8 contracts, Prices eased in gym- pathy with the collapse in tin prices and on apprehension that restrictions

rubber Block-

on

plling at the current prices may be made by the United States Prices cloved today as fol- lows:- Spot

March

May July

71.00 12,00 traded

62,00 bld

·66,00 bid -United Press.

LONDON MARKET

London, Mar. 7. Prices of rubber futures closed here today as follows:-- -Number 1 rubber.

in cents per lb.

April

April/June

July/September

October/December

Cotton

New York, Mar. 7.

of

Anglo

with no specific

to any problem.

to

Ho

want

to

about

New York, Mar. 7, The cotton textile market was

It would DESITI, therefore, |quiet today, awaiting the

Americans that the

are now reopening of the country's cotton threatening to producers with exchanges now that the Office of a burdensome surplus a possi-Price Stabilisation has establish- amplify his statement, but bility which they refused to ed a fat celling price of 45.39 said

the plenary meeting was acknowledge when the pro-cents a pound on futures.

The called off because he and the ducers askood for international New York Cotton Exchange will Argentine representative thought control at Geneva last Novem- resume trading on Thursday. it batter to have this meeting ber.

The Wool

goods market was frst-United Press.

quiet. Washington price officials were still studying the entire wool problem, with a view to clarifying ceiling regulations.

The rayon goods market was dull-Associated Press. NEW YORK BANKİ QUOTATIONS

PRICES SLUMP

Now York, Mar; 7. Tin prices in the world's Singapore, London and York-nose-dived today in the wake of the Washington de-

Ordered To Use the leading tin markets

Less Steel

cision to stop stockpiling

Cotton traders prepared for a during an average hectie reopening of the market the first half of 1950, Associat-strategic metal on Thursday after a shutdowned Press,

of almost six wooks. The con- sensus suggested that old crop Price months will sell up to or close

has

New

of the been

บ

419% šnicled

bid

Bi asked

-Aclated Pro

Pepper Stocks Drop

Washington, Mar. 7. until costs reach a "reasonable The U.S. Government today level" ordered the makers of 150 con-

At Singapore, tin akidded the sumer durable goods, ranging equivalent of 6% cents a pound

Now York, Mar. 7. from cara to pocket-knives, to from Tuesday's close. At Now Bank of America

Bank quotations:- use less steel.

261 bid York, late

,203, asked They will be limited during at $1.62

today, spot tin sold the second quarter of 1951 to from Tuesday's final price.

pound, off 12 cents Chase National Bank

National City Bank.... 20 percent less than they used

American stockpiling quarter in

mainstay of the world tin mor- ket for many months.

Private

here had Importing

New York, Mar, 7. Increases been virtually at a standstill

since the general price freeze Stocks of black pepper in late in January,

warehouses during but foreign licensed In Cars

prices continued to rise. Brokers February dropped to 233 bags in Singapore said speculators of 140 pounds each, the smal ́est Washington. Mar. 7. The Exchange. Board of Man-

Automobile dealers were given kept bidding quotations higher in total in the records of the New

the bellef that defence needs York Produce Exchange. agery announced that trading in Government permission today to

would nearby

eventually force US. the end of January, stocks March wil be

Increase the retail prices of new. for

totalled 1,893 bags. There were liquidation purposes only. The prices charged by manufacturers.

cars in order to ofset higher buyers to re-enter the market.

At today's New York price of no February receipts while Board concluded that an at-

An

Stabilisation authorised 21 cents below most importers' bags. business under the Government them to pass on to customers the prior cellings. Before the Korean

war began, tin cost 76% conts order but reiterated belief that made by a manufacturer under pound.

exact amount of any incresise cellings on raw cotton prior to March 2 orden which allowed FURTHER DEOLINEST

to

the ceiling level of 45.99 cents a pound,

"At!

64-65 tempt must be made to conduct/Pri order. from the Once of $1,02, tha was selling about 10 to withdrawals amounted to 1,650 |

-United Press.

84 nom. STORE MARKET

Singapore, Mor, 7. Prices of rubber futures cloned here today ng follows:- Number 1 rubber, per Ib.

Merch Number 1 Number 1 rubber, Bay 210-2101 Number a rubber, Marvis, 81735-310(% Number rubber, March, 204-200 No. 4 rubber, karuh way- 104 -150. "Spot rubber, unnalen ( 217-421- Black crepe

103 -100

No. 1 mais cRUDE.

22016-22736

the manufacturing level were dealers to increase their prices the price weakness reflected the unworkable and tend to a-pos- 31⁄2 percent Associated Press.

fble impairment of the long catablished treding machinery,

Tire Arat notice day, for March will be March 9, with dealings

that

New York trado sources auid opinian at many traders that with the Government out of the markot be a buyer, tin supplies Now York Metals would be more than adequate to

meet all demands in the US. New York, Mar, 7. view of restrictions on use of the in the spot month to cease at Prices in the metal, market motal for non-defence

PUPOEGS. 2005 on March 23. The final here closet today unchanged The New York market was Singapore decliner was Nio lost truding dayTin, Grade A (99.80 per cent the aburpens for a Because to last trading for marels occurs on Good Fri- or higher) 1 1.04 her rooord price,

single day inco mil-February · when th whother Now York per

[ delivery day will.ba: Match: 20% with the following: exceptiona umetn

Exchanges In NY day, some doubts unist

New York, Mar. 7 Cloding foreign exchange

ceste,

Canada

the Exotinage will observe that nominale goddhists ghdy traditional holiday this year. Coppers(cloctrolytie? withough the final decision on 101,

theis meilterswill" bhi heldum Now York, par 13 19: abeyance ganding market, dove Lead, Common, Joptoente, United: Press

$783 (5)aita) apicul

have

Thero

The largest amount of pepper held in licensed warehouses was 073,527 bags, reported on April 13, 1989-United Press,

BANK DIVIDEND

The Board af Directors of

(B)

Electric XD. INDUSTRIALS Rope XD... STORUS, ETC.

Dairy

Dairy (N) Watson XD COTTONS

Ewo

ཋནཱ

5.70 200 @ 3.55 4.60 1000 GF 5.78 2006 8.70 231% 100 @ 23

1234

900 13 700 @ 12

77% 300 1745

2,75 1000 @ 2.00

Exchange Rates

"TASMAN" w

ARRIVALS

,10th Mar.

27th Mar.

21st Mar,

⚫ only to Singapore, Petang & B. Dott.

not calling Singapore,

MANILA, EAST &

SOUTH AFRICA and SOUTH AMERICA "TJIPANAS” **TJIBESAR” **

"ROISSEVAIN”

↑ .........

LINES

SAILINGS N 18th Mar. B4th Mar.

ist Ast.

8th Apr.

SAILINGS

ARRIVALS

18th Diaz..

Sist Mar.

25th Mar

"STRAAT SOENDA" ...... In Port

** not proceeding to ́§. America.

+ not calling Manila,

• JAPAN

"TJIPANAS"

"TJIBESAR"

"BOISSEVAINTM

"VAN HEUT8Z”

"STRAAT SOENDA”

5th Apr.

ARRIVALS

SAILINGS

14th Mar,

20th Mar,

24th Max.

18th Mar,

4th As..

10th Mar.

Agents: HOLLAND EAST ASIA LINE

⚫ EUROPE via MANILA

and MALAYA "AAGTEKERK" "ALMEERK”

"LANGLEEBOOT"

to

Through Ba/L izazed Mediterranean and Northern European Porta

• JAPAN

庭

"AAGTEKERK” ↑

"ALMKERK" +

"LANGLEESCOT"

+ via Manila,

ARRIVALS

.2013 Mar. Mid, Apr.

ARRIVALS

12th Mar,

SAILINGS 18th Mary

2nd work Apt. -

May

SAILINGS

2nd week Apr,

May

20th Mar, Mid. Apr.

KINGS RUCHINASAT EXCEMONEST2280113STU S280156 SETUNGSRADENTS5782 CONNAUGH FERÐABEGEHELSEA 201

RODO HOUSE

249, Tai To Road, Kowloon, Tel.. 30978

Cable Address: "ROBONOUSE"

The only House that offers ex- cellent and comfortable accommo- dation at moderate charges.

Bigh class culino cost 16/per day.

where meals:

Car provided for convenient travel..

ESSENTIAL

SUPPLIES CERTIFICATES

for

Application Forms Essential Supplies Certifi

cates may be obtained from Register now, to avoid disappoint- South China Morning Post

Itermember our slogan, "A little Limited.

Stam ticals (per 100)

Business was done in the local unofficial exchange market

this moming at the following rates:- Sterling note (per E)

15.53 U.S. dollars (per 413

G.08 spent, a lot gained." Indonesia guliders (per 100)

ment.

3.00

20.00

1.755

13.80

Singapore (Straits)

FIC plastres (per 100)

the Mercantile Bank of India, Ltd., Have recommanded" pay- mont of a Anal dividend of six (cont, » Zone? Income tax, making 12 per cent in all for the Fost, 1950, to begynt 1

Copra Dullness

Ka Naw, Yorkumar, toll The pupra mathes coullayed: BNA bead, wow declares alace dull, with deploy de hogies

1975 8287.50 per ton: CAL #the Faci One of Singapore's loading Coast: Coconut oll war oftere York, in brokers sold the US,MON MEZA dentu a pound, 7.0,2. mili

Y. n. Chan,

Manager.

10 CENTS EACH.

Of 631 experienced B.O.A.C. pilots,

over 130 have logged

over a million miles,

seventeen have more than doubled

"

that, and one has flown

more than three million miles

-equal to 120 times around the world.

B.O.A.C. TAKES GOOD. CARE OF YOU

FLY BO-A-C

BY

́ ́Information & Bookings: Consult your usual Travel Agent or Jardine, Matheson & Co, Ltd.

General Agents in HK, & Chino)jináð Fedder St, HK) Tel. 27765.0. Peninsula Arcade, Kowloons, Telephone 3901-2-3. BURITISH, OVERSEAS AIRW CORPORATION