1951-03-12 — Page 7

Page

MESSAGERIES

M

**MEINAM**

ARRIVALS

from Japan

SAILINGS

-THE CHINA MAIL, MONDAY, MARCH 12, 1951.

MARITIMES HONGKONG

M

PASSENGER/FREIGHT SERVICE

"FELIX ROUSSEL" "LA MARSEILLAISE”

·"LA MARSEILLAISE"

24th Mar,

to Marsellies via Manila, 1st Apr. to Japan

8th May

to Marnelles via Manila 19th May

FREIGHT SERVICE

-"'MEINAM"

"GRANVILLE"

"CDT DORISE"

N. Africa & Europe 25th Mar. -N. Africa & Europe 27th Mar. ....N. Africa & Europe 28th Apr. for

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

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel, 20051 (Three Lines)

HONGKONG Britain Expecting An

SHARE

MARKET

The volume of business Transacted on the Stock Ex- change this morning was $94,- 450. The half day's business closing prices were und noont

as follow:

SHARES DUYERA SELLERS HALES BANKS

HK Bank XD 1320 East Asia

**

102

INSURANCIES

Contuli ... Unli

Underwriters

645 #La 20170 320

12%

SHIPPING

Asia Nav.. 70%

DOCKS, ETC.

Increase In Taxation

In

April Budget

(Our Own Correspondent)

London, Mar. 11.

The season of Budget speculation is now officially open. The Chan-

cellor's task between now and April 10 is to decide how the extra £400,000,000 needed mainly for rearmament is to be raised.

R.I.L.

ROYAL

INTEROCEAN-—- LINES

SINGAPORE JAVA PORTS and MACASSAR

"TJITJALENGKA"

SAILINGS

18th Mar.

ARRIVALS

10th Mar.

"VAN HEUTƏZ” • *TJIWANGI"

24th Mar,

.27th Mar.

1st Apr.

"TASMAN” •

31st Mur.

8th Apr,

鄘

only to Singapore, Penang & B. Dell.

not calling Singapore.

It now seems as certain as any Budget forecast can be that he will MANILA, EAST & raise this sum by one of three different means or a combination of all

three.

He can:

500 70c

1.

2.

Raise the standard rate of income tax; Increase the profits tax; or

**** 1314

3. Reduce Government expenditure on other U.S.

METAL

1000 a 2015

N. P. Wharf Dock Wherlock

LAND, ETC.

ધ્રુફ

projects.

Only Arm guidance we havej" Bankers warned recently that from the Chancellor himself is the country is nearing the limit that everybody will have to of its taxable capacity which

MARKETS

carry a share of the burden ac-f merely means that it has REVIEW

..11.10 11.00 D60 a 111⁄2 poorest.

FK Hotel XD

6.50

HK Land

36

Humphreyn ·

XD ......

UTILITIES

Tram XD

Star Ferry"

100 70

C. Light (0) 5.00

400 00

500

C. L. (N)

C. Light (B)

3.70 8.50

Mostric ... 22.00 2334

INDUSTRIALS

Coment XD 10

Rope XD...

123

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

• NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND 'PANAMA

NEXT SAILINGS

M.S. "LAURA MAERSK”

“HULDA MAERSK"

M.S. "TREIN MAERSK"

* This vessel calls Vancouver prior to San Francisco.

ARRIVALS FROM U.S.A..

STORES, ETC.

*M.S.

M.S.

"PETER MÅERSK”

M.S. "LEXA MAERSK"

M.S. "SALLY MAERSK”

5

cording to their_capacity, the about—inken—all it can sland. least falling on those who are if there is some small amount of slack somewhere, the Chan- take it in. But it ccller will should be remembered that whatever happens on Budget Day will probably be mild com- pared with what may bappen next year. when the rearma- ment programme swing.

With this as a rough guide we may assume that nobody will be as well off after April 400 210 as he is now. What we don't know and cannot know is how the burden will be apportioned between the various sections of the community.

100 22

1944 194 Dny Dairy (N).. 11.75 123

000

13% 100 @ 12′

ΟΙ

Mar. 18

Mar. 30

Apr. 14

Mar. 23

Apr. 21

May 3

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Fedder Building

Tel. Nos. 20601-8.

The

in ful

Exchange Rates want the Chancellor to make it pilo until the price was more

0.0775

Ard fears

Now York, Mar. 11. Tin prices plunged this week when the U, S. balted stockpile buying, but market conditions In other metals were little changed,

Per

1

cent

Use of copper was ordered trimmed back five more for the second quarter. Tight controls were alopped on The Trades Union Congress STOCK EXCHANGE

consumption of bismuth. And has recommended the Chen-

tungsten cre Importers withdrew Stock Exchange camc cellor to raise the standard rate| of income

under the influence of several quotations, saying they could do seems tax, This strange advice coming from outside factors during the week. business since foreign prices trade unions. But they have Tins were weaker on the news had climbed well above cellings

In this country. not forgotten their responsibil- that the U. S. Government was

Tin was being quoted nt ties and loyalties. They also to stop buying in for its alock-15$1.82% Just before

Senate Sub-Committee "reasonable,"

that Preparedness workers possible for lower-paid

taxpayers Junner was done in the local to earn more before their wages this might herald a go-slow in charged that U, S.

American stockpiling generally, were being "gouged" by Un Unofficial exchange market this are subject to taxation. moming at the following rates

might be taken, co This advice

contributed towards the reacties producers and speculators. The Sterling note íper )

13.55 for # raises U.S. dilam (31

a very important in rubbers from last week's Government halted sicckpiling. The tin market broke in New boom level. Indonesia gulders (per 1001 3.50 paint, Under the present system Slam teals er 100)

27 50 of unxation,

At mid-week the assassina- York, workers are re-

tried to unload. Singap + Straits)

1.17uctant to FIC plastres (per 1001

14.00 cause

work overtime betion of Central Razmara,

almost dried up. the

extra money

a degline in oils. The £20,000.- carn by doing so is as 000 Anglo-Iranian Oll Company not taxed at a higher rate

and is under threat of nationaliss- their ordinary earnings, the benefit they derive from to increase with the murder of tion-a prospect which seems their New York, Mar. 11.

exira

The Government did not an- greatly diminished. It is obvious that General Razmara who only last nounce what would be con- The silk trade remained in

Saturday expressed his opposi- cidered a reasonable' price for a state of suspended animation in a period of semi-war effort tion to nationalisation.

re-entering the market, Some Inst week. Export prices one men are going to be re-

Elsewhere in the market the tin trale sources here predicted quuted by hu Japanese were quES

quired to work longer hours,!

four-power conference in Paris it would be somewhere between still far uboye United States and if they are to do this with-

was a sobering Int

influence. bel they

On US$1. and US$1.25. The stock- importers' frozen maximums.-99 United Press.

the whole, however, the market pilers apparently could afford to a larger stood up well. Activity was at sit back and allowed to take hame proportion of their earnings.

walt, for their Falling that the only alterna- week. Declines were small and to be

slightly higher level st

strategic reserve of tin is known tive is a

of wages

were partly-offset by support the claims,

Inflation market, at the lower levels. fears are much of the investment demand.

Silk Trade Idle

above the weather in a

HIGH

Fly

The

the

mean

four glant english of

D.C.6 "Cloudmaster"

power to take you to

the calmest altitudes. Air.

conditioning and radiant-

heating in your extra-pres.

eurized cabin provide the

right atmosphere all the time.

B. A. 8. offers the famous

"D. C. §. fervice to Israel,

italy, Switzerland, Germany,

Scandinavie, and North

and South América,' (close ̈ ̄ ̄ ̄

connections to all larger |

gities all over

the world).

SCANDINAVIAN AIRLINES SYSTEM

"Agents: "THORESEN & CO., LTD.

ZAP

Pacific Far East Live, Inc.

*DIRECT

·BAN FRANCISCO, LOS ANGELBA

“F, J, LUCKENDACII"

"CALIFORNIA BRAN“ **PHILIPPINE BHAR”

MEL, LUCKKVERACIT "EDGAR "LUCKRÍTKA CH

Fast Regular Trans-Pacific Service

OVERLAND

NEW ́ TORE.CHICAGO DETROIT TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIRA

From

Siratta

Atradiu

Straits

Ben Franciaco

For

Artimpa

Batte

Mar.15

Mar. 10

Dan Triciclico y Kobe

Yokoham

MNT.. 30

5 Trancisco via Tolodaria-

Apr. 11.

Untied Sisiós Line Os.

San Francisco, vis Kobe &

Yokohama

Singapore, D}

Lee Angled

Colimpiyo

out grievance

zcal

new round

*{

must

SAFE ASSUMPTION

the Spec Singapore and London as they Persian Prime Minister, starica Trading wock's close, tin had

than'

So we may fairly safely as-i sume that higher-paid workers

plummeted 48% cents a pound here and even at US$1.34 was considered still wobbly.

the

And

out

with of the tin was comparatively

still responsible far plentiful for Industrial con- sumers at prices far below the

will have to pay a stightly U.S. Plans

increased rate of Income

Lax

(say a standard rate of 9/6d

instead of the present 9/- in

the pound) while lower-pald For

workers will get some

beneat

by readjustment in the lower reaches of the laxation scale

if not in actual cash at least 1

incentive to earn more.

It is, however, virtually im possible for a socialist govern- ment to raise income tax

with-

Huge

Tankers

-New-York,Mar-11:

eclling-Associated Press,

NFA ORDER

The National Authorities new

SOUTH AFRICA and SOUTH AMERICA TJIPANAS" “TJIBESAR" ** "BOISSEVAIN” "STRAAT SOENDA” "TEGELBERG”

+

not proceeding to 8.

+ not calling Manila.

• JAPAN

*TJIPANAS" "TJIESAN” "BOISSEVAIN" "VAN HEDTSZ” "STRAAT BOENDA”

"TEGELBERG”

SAILINGS

ARRIVALS

21st Mar

22nd Mar.

25th Biar.

In Port

8th Apr.

4th Apr, America.

ARRIVALS

17th Mar..

.20th Mar.

24th Mar,

16th Mar,

7th Apr.

oth May

8th May

SAILINGS

20th Mar, 6th Apr.

Agents: HOLLAND EAST ASIA LINE

• EUROPE via MANILA and MALAYA "AAGTEKERK" "ALMKERK"

"LANGLEESCOT"

Through

to

Bs/I, issued Mediterranean and Northern

European Ports.

→ JAPAN

"AAGTEKERK” ↑

"ALMKERK" + "LANGLEESCOT”"

+

via Manila.

ARRIVALS

20th Mar. Mid, Apr.

ARRIVALS

.13th Mar,

SAILINGS

14th Mar.

2nd week Apr.

May

SAILINGS

2nd week Apr.

Mny

26th Mar,

Mid. Apr,

BERINGS BUILDINGS TELEPHONES (240) 38TOKOIZ

CHINESIVATIENTSEMLE CONNAUGUIERDADECE TALNE11021150

Encouraging Signs In American Business

New York, Mar. 11.

Defence orders really began piling up this week. Backlogs at the mills and factories were growing. A larger part of the nation's produc- tion facilities was busy on military needs.

The Commerce Department

Production copper order restricts. fabricators' - use of repeated that backlogs at the 75 end of January climbed to $41.7 copper, and copper alloys to

an increase of 3.7 percent of the amount used in bon, billion In the

during the month. a comparable period first half of 1950.

Despite the growing emphasis The limita

011 military needs, the nation's manufacturers still managed to Alvaninum fabricators can keep civilians supplied with

gooda,

tion is 80 percent this month.

out making similar-demands on ridering construction of a dozen, efter April 1 use of cop- tocles built up by a terrifle pro-

on

его

to

The

SLOWER

TRADING IN

· COTTON

Now York, Mar. 11. Nearby March and May cotton contracts continued to hold at

use 65 percent of the average for the first 1850 half, the same The civilian demand was met curb in effect this month. An American firm in con-

to some extent through inven

profits. At

ent, Arms

per is banned in few additional duation present,

nav pay

rato

viace Korean 87- in the pound on profits dis- tankers with nearly twice the civilian items such as auto-hostiles began that June. tributed to

and carrying capacity of the largest mobile radio antennae, shareholders

clothes ·Price and wage controls com- 2/- in the pound profits now being built, the Journal of hangers and key chains. tinued to bother business and the ceiling level of 45.39 conta ploughed back into business.

Commerce reported,

The bismuth control order industry but amendments, not--a pound, while distant deliveries National Bulk Carriers, largest prohibits all but certain speci-ably in the cotton regulation, declined. The rest is taxed as income so

Trading however, the overall rate of taxation independent owner and operator fled uses of that soare metal cleared up some of the com→ was at a slower pace than in the paid by a company is about of fankers in the world, is beginning next month. Also, fusion. 12/ In the pound.

two previous sessions. Prospects negotiating 10 build the big produce

There producers will have to accept

were signs too that for heavy production of cotton A firm which is left with ships in Kure, Japan, the new priority defence orders for up some of the heat may be drain- this year induced selling in late only 8-of every pound it paper said. Blueprints call for

half of their scheduled ing off inflation, which has be- months. carns obviously cannot be tax- two 60,000 tonners and five monthly production, and pro- come increasingly explosive. Prices closed today as follows: ed very much more. The com- 50,000 tonners. The largest shipa ducers and importers will have

Treasury

Department spot themselves panies

say they now under construction cannot be taxed any

32,000 tona more at all. Their argument is that with The United States Company at Tising production costs any fur- present operatos 25 tanker ther taxation would prejudice ranging from 15,500 to 24,000 their ability to increase produc-deadweight' tons.--Associated tion.

In this

case political can- siderations may play

a vital art. The £400,000,000 must be raised by some means or other. Some of it may be forthcoming from Increased revenue genera- ted by the arms programme but not all. If, therefore, the Chancellor decides to increase income tax (and he has the backing of the TUC if he does) It follows almost automatically that profits will have to suffer

at least proportionally,

GOV'T SPENDING

Prega,

October December

45.08

49.39 bid 45.29 64.91

41.00-41.58 -40.80

PAULES

40.42 nominat

40.0%

Halted Press.

NEW ORLEANS MARKET

contribute 20 percent of and the Federal Reserve Board Martha their monthly supply to a re- were on speaking terms ogni. May July serve which the MPA may use A few prices dritted lower. There were indications that to case emergency altuations.

Permitted uses for

is home appliances March (1953) blamuth such items

May under the new order include were not as scarce as some con-

July bushings and parts in machinsumers believed.

These brends were small ery, dies and punches for sheet metal tumbossing, patterns for number and the optimistic signs dental and medical models and

were seen by comparatively few people. But they pointed in an encouraging direction. preparation. maceutical

WAGE INCREASES Demand for copper, lead and zinc

Many thousands of workers May pressed

unabated. Orders

received wage increases during July on copper producers

October the books now call for delivery of automobile industry.

week, principally in the

December March (1962) around 93,000 tons in March,

Many companies reported their] Bay and with April books only ro- 1950 earnings this week and the Jur cently opened the sales for that not profit reached astronomical month already aggregate around gres General Motors Cor-i 15,000 tons.-Associated Press.

Grain Price prosthetic devices, and

In Chicago

Chicago, Mar. 11. here today as follows

Prices of grain futures closed Whent price per bushel Spot March May

The third method open to July the Chancellor is to order cuts September

in

Government

chuirica

considers that

expenditure, December

Cora: The Federation of British In-

Spot 12 he arch does this, probably there will May be no need for further taxation July

September

at all. But here the FBI seems December

to be falling into the trap that Onta:

ensnared much public March

has

| thought since the rearmament | May

2.4516-14 2.41386-% 2.4235 2.401

1.81 1.7034

1,003⁄41⁄2-16

1.78-1

00%-14

lb.

programme, was first announced. New York flour per 200

We are

ndt at war-we hope sack, $13.20-United Press. we never, will be—and we can-

not act as though we were.

If reductions are Government

made

Price Control

"Confusion",

01

phar-

Still Cautious

poration reported the highest profit in the history of any corporation.

The nation's steel mills were: rolling it out at a cate that reached 101 percent of rated capacity. Freight

our loadings

New York, Mar, 11. The establishment of a ceiling 785,807, compared price on spot raw cotton and 734,704 the previous week.

Crude of production was up

the

ensuing resumption, -of

Spot March

Closing rate March 11.

44.91 45,31 bil 45.37 bid

41.50-41.55

40.79

$0.65 bid. 40.45 pla

40.00 bid

United Preis.

Worldwide

Scrap Drive

trading in the futures markets and soft coal output was above| Advocated

went a long way this week to the previous week. ward reviving interest fabric market

In the

Automobile production was

· 180,532 ́ ́ units against 177,950 While the six-week full in the previous week. -- Associated business showed signs of ap-Press.. proaching the end, there were

Pittsburgh, Mar. 11. The United Staics steel in- dustry, greatly concerned over diminialling stock piles of Iron and steel scrap, wants a world

drive to keep its widescrap

rolling.

New York Stock expansion programme thabituation un

still guito a few producery and lo spending and

buyers adhering to

Jago slow doubtless there are ways this

policy could be done without, causing

folds further. Cautious mill- too much damage to the

the frame-

men wanted to see whether the Washington, Mar. 11. work of the social security that

threatened industrywide strike A Democratic Representa in cotton and rayun been-built up since the end of the

extremely tive, Mr Frank Smith, today materialses, United Press. Ja unlikely that they will go far urged the House Banking Com- ohough to absolve the tax-mitise to hold detailed the

W

Exchange

United States Steel Corpora tion that possible) (nourODE DE munken ships off the historia Normandy beaches, obaleta Now "York, "Mnr. "11.

army equipment, automobile

・me Trading virtually dried up on graveyards

Abandoned the Stock Exchange, leaving equipment in Germany and the New Trade Pact price just about where they Far East.

altogether. Lignana the Apart from thsee three means cotton price control ordene Dow

closed on Friday. The mariest C A Ligenfritz, Vice-Chair there are of 'course other ways He said that the Price Stabi-

Bombay Mar 11,

averages showed a minor no man of the American Iron sno open to the Chancellor of raisisor, Mr Michaol Disalle's order

Lodia and Iraq will shortly clino largely on result of the Sice. Instituto Scrap Committee ing the required reveque. He for a baric olling of 1070 cent sign a trade agreement, it was weakness is the chanical group and wrap will be required Ja could incrodon the purchase: tax a pound,'s

Can League

Learned

| Iapontură Allled amounts greater than orig. be some other form of indirect created great confundon within

A representative Iraqi delope Chemical wonkond Rails and fore Lasation But, tds would only the entire cotton industry. Me too of eight arrived in New utilities declined a little.

Far East has

the aced inflation and oralo pro Smith said in a letter to the Deiht on Feb, 18 and negotiations Day Jocs ang

-hong today!

where

babylond 'to now wage clima. Casitman, grMrs. Bryntj«Bostice) | havoi-boën-going-on since then one of the noasion" stood to 9; SIFm.i}

leave the waxeded the cloud on as understood that under the 10 and Question of, the bus itaponial attention when hearings DENNE CONTROLE will spend 1:50. Indreshcha is équtiful whelier, Llings have start; on continuation robed duchyany pour that this defence Production Act which moni partilos, cotton and Jule 10 all

goods, timber mod teng 3819%. Zakome methods

i will be bouddaved égiócBERMANIA ASADfres on ... (1*1% 30 ----United cuntsmanen for Iraq's datos: berier (240) bondi

202.02

try/cntimates that stay fast!

пред

6478) collected on the Pad 48.87 and brought back. (The 20184) 10m. In the russtion, OR, AW

KELİZA\mpciated Press