1951-03-09 — Page 7

Page

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MARITIMES

MOM

- “MEINAM"

ARRIVALS

from Japan SAILINGS

PASSENGER/FREIGHT SERVICE

"FELIX NOUSSEL" "LA MARSEILLAISE' "LA MARSEILLAISE”

"MEINAM"

"GRANVILLE” "ODT DORISE"

24th Mar,

to Marsellies via Manila 1st Apr. 8th May to Japan to Marseilles via Manila 19th May

FREIGHT SERVICE

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

for

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

CIE DES MESSAGERIES Maritimes Queen's Building.

Tel. 26661 (Three Lines)

WATERMAN

STEAMSHIP WA CORPORATION

MOBILE ALA USA

WATERMAN LINE EXPRESS

FREIGHT SERVICE

FROM US. ATLANTIC COAST VIA JAPAN

4. 9. *KYBKA"

Due about..... 21st Mar, 1851

DIRECT FOR

NEW YORK, BALTIMORE & PHILADELPHIA

1.1. “KYSKA"

VIA JAPAN & HONOLULU.

Bails about .......... 22nd Mar. 1931

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

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Mar. 18

Mar 80

Apr. 14

TANKS OF ALL SIZES AVAILABLE FOR BULK OIL

ARRIVALS FROM U.S.A.

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M.S. "LEXA MAERSK"

M.S. "SALLY MAERSK".

Mar. 28 Apr. 21

May 8

For Freights and Further Particulars please apply to:-

AGENTS:

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Pedder Building

Tel. Nos. 26681-3.

Board a B・O・A・C ARGONAUT

to

Singapore

Twice a week 8.0.A.C', big, glosning Argonauts leave Kai Tak for the South-

offering the finest flying service to bo had between Hongkong and Singapore, under B.OAC's tradition of speed, comfort and courtery, All arrangements can be made through

JARDINES AIRWAYS DEPT.

Tel-21366/07

107th Podda St. Hong Kong 4:Pastarelo Aitada. Koulain

THE CHINA MAIL, FRIDAY, MARCH 9, 1951.

Cotton Prices Soaring

New York, Mar, 8.

Cotton-now one of the world's scarce commoditico- soared to the maximum price allowed by tho American

Dent

SHARE

US Tin Decision HONGKONG

Under Fire By New York Journal

New York, Mar. 8.

An editorial in the Journal of Commerce today Government when the New York criticised the United States Government's suspen- Colton Exchange resumed sion of tin stockpile buying and warned that in trading here today.

Arst transaction the long run the decision might not have the effect The March and May cotton to 45.39 of causing lower prices. centa a pound, the Government's declared limit:

For the bale, cotton futures jumped $5.75

to as much as $10, Confusion over the dally Hmit. the Government's price stabilis... tion order had kept the exchange cloood since Jon, 20, Well before its opening today buying orders flooded into the "ring" trom all directions.Router.

CLOSING PRICES ·

New York. Mar. 0. Prices of oction futures closed here today as follow:- Spot

March

May

July

October

December

March (1952)

May

July

NEW Spot March May July

October

December

ORLEANS

March (1902)

May

July

PRICE

48,00

48.39 bid

45,30

43,01

43.33 - 42.37

41.77

41.83-41.07

$1.60 nom, 4120 nom. United Press.

40.33 bid

While it is true that prices have already dropped sharply, the editorial said, they would stay down only as long as the suspension lasted.

It said Britain. and other countries which have had against U.S. difficulty bidding dollars for world in would lose no time

getting into market with heavy orders.

in

the

In this connection, it pointed out that Britain was allocating about $400,000,000 for stockpil

In 1951-52, which Ing

WEL

close to

to US. spending for the tin stockpile.

It added: "So we doubt that tin prices will drop very far, particularly if speculative buying continues

abroad, and in the meantime the United States will be acquiring no tin for stockpiles

MARKET although others will.”

44.91

concluded that The Journal

machinery оп 1536 ki international

pricing and distribution should prove more effective in the long run than any unilateral buyers' 4158 bistrite-United Press. 41.25 bi

44.56

42.32

41.70

47.74

-United Press. CONTROLLER'S

STATEMENT Washington, Mar. 8. The Price Controller, Mr Michael Disalte, told a Congres- sional Commitice today that he will stand by his collon price celling order until and unless the Congress writes a new law to control cotton.

"I have found nothing in the law that says we have to sta- bitse all prices except cotton," he said.

Mr Disalle testified before the Join! Congressional Committee on cconemle controls.

The Secretary of Agriculture, Mr Charles Brannan, told the Committee that Mr Disalle uverrode his recommendations to issue price cellings on raw cotton at the form level. United PreYS.

Big Ore

Discovery

Wall Street

Has A Slow

Tin Markets

Continue The

Down Trend

MARKET

Tho volume of business transacted on the Stock Ex- change this morning was $120,- 725, The hall day's business and noon closing prieca were as follow: SHARES BUYERS BELLEDS BALKS BANKS

3340

1423

201325

HK Bank XD

Exert Ant

102

INSURANCES

Canton

Union ste -643

$0.5

50

1:00

Underwriters 3.10

DOCKS, ETC.

01

N. P. Wharf

5.20

**** 13.23

1.75

K. Whart

Dedic

B'had Dock

LAND, ETC.

HK Hotel X0 1,20 3,00 S'ha Lebd..

UTILITIES

1.40

Troms XD... 111211.00

Star Fiary .. Bois

C. Light (0) 5.00 4,06

C. Light (N)

C. Light (1)

Telephons

R.I.L

ROYAL

INTEROCEAN.

• SINGAPORE JAYA PORTS and MACASSAR

**TJETJALENGKA” ** "VAN HEUTBZ” *

"TJIWANGI"

"TASMAN" •

ARRIVALS

.16th Mar.

4

27th Mar.

„Mist Mar..

* only to Singapore, Penang & D. Dell

not calling Singapore,

• MANILA, EAST &

SOUTH AFRICA and SOUTH AMERICA **TJIPANAS"

"TJIBESAR” ** †

"BOISSEVAIN"

"STRAAT 80ENDA”

ARRIVALS

In Port

** not proceeding to 8. America.

"TJIPANAS”

↑ not calling Manila.

3.70

• JAPAN

ARRIVALS

5.00

.16th Mar,

Electric XD INDUSTRIALS

2012

“TJIBESAR"

.20th Mar.

"BOISSEVAIN”

..24th Mar.

13%

"VAN HEITSZ"

.18th Mar.

TOO

"STRAAT SOENDA”

114

2716 300 @ 17%

1.30

Rope XD STORES, ETC.

Dairy Datry (N) Watson

prices COTTONA

Singapore, Mar. 8. Malayan tin tumbled heavily again to- day, continuing the down

trend which began after the U. S. announced it was

Exchange Rates

suspending tin buying for morning at the solowing katrs the stockpile.

The price for tin was (Straits) $570 a picul, a drop of $79.50 from Wednesday's close.

The drop was sharpest ever recorded for D single day's trading

Continental European and South American buying orders which came in a flood during the weeks when the price of tin was soaring, tapered off to a trickle

-Associated Press, NEW YORK DROP

New York, Mar. 8. Tin prices continued tumbling for the third day today and New York, Mar. 6. were quoted at mid-afternoon slickr market closed at US$1.40 a pound compared barely higher today in one of with yesterday's close the slowest trading scesions of US$1,80Associated Press.

Session

The

the year.

shares.

of

LONDON SLUMP

London, Mar. 8. Transfers for the day were

1,500,000 around

Prices of tin dropped heavily Modest demand for a few fa- again this morning. Turnover hold the Ilst was 100 tons, all for three- vourites helped stendy on average.

Packard had another day of; active

trading at a narrow end of the official morning ses-

sion os follow:--- fractional advance.

months.

Prices closed

today at

the

1,210

1,225. nil

months tha. buyera Three

months tin, sellers Business done al

1,005

1.105

Spot tin, Bellers

Pacine Western Oll, whose Spot tin, buyers directors approved # proposed Business' done at three for one stock split, was Three- little better than even, al- mue

It jumped more than though four points yesterday.

Other Kainers included Settlement Standard Oil, Missouri, Kansas and Texas common and pre-. ferred, Nickel Plate, Chrysler, 1 Dow Chemical, United Air Lines, Trans-World Airlines, Ottawa, Mar. 8. Montgomery Ward, U.S. Rubber, LeHigh Portland Cement Flying Government prospec- lors claimed

credit today for and American Woollen.

were Depressed

Kennecott,

In Canada

the discovery

A mull-Smelting, of

American Zenith

of deep Radio, Consolidated Natural

million ton deposit

iron ore near Belteville, Gas and American Can. lying Ontario.

Dow Jones Averages: The Canadian Mines Minis-

Stock Georgo tor,

Prudhom, said 20 Industrials Bethlehen Steel Company is

15 Rails expected to begin operations 10 Utilities soon on a 400-acre tract

Marmona, Ontario,

dear

The deposit, buried under 100

feet of limestone, was pinpointed

iKI10 1,000

1,235 United Prest.

The Rubber

slow

Markets

New York, Mar. 8.

at a Liquidation proceeded

rubber futures pace in with business

limited to one at 03.09, contract for March delivery

252.81 of cents a pound.. Closing bid

were

100 to 200

7th Apr

LINES

SAILINGS

18th Mar. SIUM, Mar.

1 Apr.

8th Apr.

SAILINGS

- 21st Mar, 22nd Mar. 25th Mar.

8th Apr.

SAILINGS

29th Mar,

Agents: HOLLAND EAST ASIA LINE

⚫ EUROPE via MANILA

and MALAYA "AAGTEKERK”

*LANGLEEBOOT"

lasued to

Mediterraneša and Northern

ARRIVALS

20th Mar. Mid, Apt.

"ALALKERE”

Bukken was:done in the local unofficial exchange market this

Sterling note (per) zvanike U.8. dollars (per 1) Indonesia guilders (per 100)

Through. Bafla

16.60

6.078

3,00

European Forts.

4:0 325

1.17 13.30

• JAPAN

“AAGTEKERK” †

"ALMKERK" +

"LANGLEKSOOT”

2nd week Apr.

May

Gam inal(per 100) Singapore (8{c={a} FIG piastres per 100)

New York, Mar. 8. Prices in the metal market here closed today unchanged with the following exceptions:- T. Grada A. (99.30 per cent

1.60 or higher) New York, per Ib. Load, common, New York,

per ID. ***United Press.

*** 10-20

+ vin Manila,

ARRIVALS

19th Mar,

..

SAILINGS

14th Mar,

Zed work Apt,

SAILINGS

28th Mar. Mid, Apr.

BEKING'S BUILDINGSTELPUONISERIOUÆUIZ

ZESTUOSE SEEMENTSTILE CONNAUGHT ROADE

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-la 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:- Iabrandtsen

INDEPENDENT

DEPENDABLE

Fast Direct Sailings to JAPAN and WEST COAST—U. S. A.-EAST COAST

05.01 prices 43.41 palmis. The lower trend was

with Icars coupled

that the United States will refrain from with transhipment' cargo accepted for Jamaica, Havana and other Cuban Ports, further stockpiling of the com-

-Associated Press.

by flying magnetometer crews New York Sugar

of

the

Federal Geological

Surveys Division, who

dis

covered a 400-mile area of eastern Ontario trailing magne-

tle instruments plane.

behind their

modity except at lower prices.

Prices

follows:-

Spot

March Alay

closed today 08

72.00

70.00 bid

United Press. MARKET.

also Venezuela at

SAILS FOR:

Futures

COMPETITIVE RATES OF FREIGHT

64.00-bid

July

80.00 bid

New York, Mar. 8.

DUE FROM:

- LONDON

London, Mar. 8.

Prices of rubber Futures 5.5. "FLYING INDEPENDENT" New York via

Manila. Third

Wook March

of

100

08 -855

0314-0414

8714-8832

World sugar futures closed.to- Dr G. C. Monture, chief of day 6 to 7 higher with sales the Minerals Resources Division, totalling 587 contracts,

closed today closed here today as follows said, "The iron ore in that Contract No. 0

Number 1 rubber, în cente 11 lower,

per. ib. region has been known for 80 11 higher to

Apri years, but it was the recent sales Botalling 616 contracts.

Amil/June Prices closed today as

July7/September geological surveys uring flying

October/December lows:- magnetometer, technique that

Contract No. 4 (world) found the concentration of or May deep below the surface."- United Press.

Grain Price

In Chicago

Chicago, Mar. 0.

63 nominal -United Press.

S'PORE MARKET

Singapore,. Mar. §.

Prices of rubber futures closed

with

fol-

5.55 bid

B. bid

July

September

det bid

Spot

5.35

Contract No. 8

5.49

May

September Spot

8.67

| Number 1 rubber,

per 1b, March

13.45

222-22215

United Press.

April

21856-215

May

Number 2 rubber,

214-715

March

213-211

Number 3 rubber.

March

200-201

Number 4 rubber,

March

Pepper Dullness

here today as follows-;

Spot rubber, untaled Black crepe

New York, Mar. 8. The black

market No. 1 pale crepe pepper Prices of grain futures closed remained dull with not enough buying interest apparent to toat prices.

Spot March

here today, as follows;; Wheat-price per bushel,

24596 2.43 2472-75 2431 244-4

May -July.

Beptember December

Com

Spor

March May July September December

nye

May July

Marcis May

·

On nominal basis, im-

A

190-191

101-103

---United Press.

Chartered Bank Dividend

mediate supplies were quoted at between 170–1.72a-pound, with stocks awaiting relcuse of around 1.60-1.70. Dealers re- ported 10 tons for March ship 2.74% asked ment were done 1.55'a pound, 2.011-12

with subsequent offerings to of The Chartered Bank of

India,

Australla **&*: China--will 1.305

appearing at concessions of a

recommend a final dividend of

24 1.036

1204-1.00 1.87

0014 0853

New York flour-per 200 155, anck. $13.21—United Press.

Price Index Up In America

The

At the Stockholders Mooting to be held on April 4, the Direc

will

cent or two, April shipment was ne

8% actual subject in quoted nominally at around 1.53 making 14% for the and May at 1.52 a pound, on an against 12% for the year 1949). ex-dock basis--United Press. They

recommend the following allocations: £125 – 060, Pension Fund; - £20,000, Widows & Orphans: Fund; £250,000, Bank

Bank Prumises; £100,000, Contingencies; £305, 836, carried forward. will be

to

Copra Price Down

Now York, Mar. 8. The price of copra dropped

$286 per

In addition the Reserve Fund ton, CIF. the

increased from £3, Facide Const, from Wednesday's sellers' price of $287.50. How 000,000, to £4,000,000, ever, interest continued dull. Cocoanut oll was offered at 22

Now York, Mar. 0. Dun and Bradstreet buyers seemed more interested

conds a pound, 7.0.3, mills, but Bank Of England

wholesale food price Index in 21% conta-United Press.

climbed two cents, this week to

a level only cats below the

| all-time high, reached-32 months

ngok- The index for the week

ended yes the

Seeds And Oil.

stood at $7.27;

New York, Mar. 8. ^ #746 on July Prices in the needs, and olla

Statement

London, Mar, 0.-)

The Blank” of. England, stato". racat for the wook "ending-Mar, 7 reads as follows:-*!

and $5.85 a your 387, market herd closed today,une" | Notes:m etruskison,

Index which hina<shot up | changed with the folloJONARNE Pubig: debonyER WEARA

reeks sine 16 orean ceptions.

Waltham Castor Good, par

war

total of the price par, pound of FO.DEN.

31 fooda la general troncolind Brasilan Port,

long

Sterling RUN

Kobe, Nagoya, Yokohama, San Francisco, Los Angeles, Now York, Baltimore, Boston via Philadelphia, Panama Canal, Third Week of March.

LIMITED PASSENGER ACCOMMODATION AVAILABLE

Above Dates Subject to Change

For Information Apply to:

A.P. PATTISON & CO., INC.

GENERAL AGENTS: CHINA, FORMOŠA, KOREA, JAPAN AND HONGKONG,

12-14 Queen's Bond Central 4th Floor.

CHINESE AGENTS:

OVERSEA CHINESE STEAMSHIP

48 Bonham Strand West, 1st Floor.

FLIGHTS 2

WEEKLY

Td::25840 in ml

CO., LTD.

Tels: 20127 & 81119.

IT CO-OPERATION WITH LAT

NORTH to TAIPEH & TOKYO MONDAYS & FRIDAYS

SOUTH to SINGAPOREvia BANGKOK

LÄNYS DIESDAYS'S SUMDAYA ILMI

COACH SERVICE at reduced

PACIFIC LIVERSEAS AIRLINES SIAM

HOTEL/