1951-03-14 — Page 7

"

MESSAGERIES. MARITIMES Formula

M

"MEINAM"

ARRIVALS from Japan

SAILINGS

THE CHINA MAIL, WEDNESDAY, MARCH 14, 1951.

M For World

PASSENGER/FREIGHT SERVICE

"FELIX HOUSSEL" "LA MARSEILLAISE" "LA MARSEILLAISE"

"MEINAM”

"GRANVILLE"

"CDT DORISE"

24th Mar,

to Marseilles via.Manila 1st Apr. Bth May to Japan

to Marnellles vla Manila 19th May

FREIGHT SERVICE

N. Afiles, & -N. Africa & ..N. Airlea & for

Europe 25th Mar. Europe 27th Mar. Europe 28th Apr.

PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN,

TANGIER, CASABLANCA, HAVRE, DUNKIRK,

ANTWEEP & ROTTERDAM,

"DOCTEUR YERSIN” ........for Salgon

20th Mar,

CIE DES MEssageries MARITIMES

Tel. 26661 (Three Lines)

Queen's Building

SERVIS

MAERSK LINE

FAST FORTNIGH TLY SERVICE TO:

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

NEXT SAILINGS

M.S. "LAURA MAERSK"

*M.S.

"HULDA MAERSK"

Mar. 18

Mar. 30

Apr. 14

M.S. "TREIN MAERSK"

This vessel calls Vancouver prior to San Francisco.

ARRIVALS FROM U.S.A.

M.S.

"PETER MAERSK"

M.S.

"LEXA MAERSK"

MS. "SALLY MAERSK"

Mar. 23

Apr. 21 May 3

Currencies

Sydney, Mar. 18. A leading British-In- dustrialist

cited today Canada's and Switzerland's withdrawal from the Inter- national Monetary Fund in urging the revaluation of the Australlan pound;

Mr WJ; Derby, Managing Director of the Berger Paint Group-an association of firms In England, Scot'and, Ireland, South

Africa, New

New Zealand and France gold,

irade illa wo cuire the world's We are

American Intervention London Stocks

In Tin Tin

Blamed For

High Price Of Metal

London, Mar. 13.

The United States policy was responsible for the high price of tin, Mr W. K. Davey, the Chair- man of the Committee of the London Metal Exchange, claimed today..

are

| Decline

London, Mar. 13. Weakness. of. British Government bonds led to a fairly general doclino in

a light trading sonelen of

the London

change

Stock Ex-

the

`today Losses in

Gover- ment list ranged up to one- fourth of a point, Indus- trial stocks followed sult, with textile and brewery Issues under some selling pressure.

Mining stocks Inclined lower. Commodities were steady.

Financial Times' Index: 120,6 - Associated Press.

In a letter published in the London Times, Mr Davey declared: "I feel it incumbent upon me to to express my opinion upon. the views which must stabilise the world's cur- reported to have been expressed by the members rencies in relation to the Ame- of a United States Senate Sub-Committee in BIG rican dollar The truth of the world's trading position is that regard to the buying of tin for the American the Amorkan dollar is ova strategic stockpile.

valued.**

Mr Derby forecast that the International Monetary Fund would eventually be cancelled by the agreement of its mera- bers. and world currencies would then be allowed to find

their own love),

"That will be a good thing, beenuse it will reduce the price of overvalued American dollars,"

He said this would enable the rest of the western nations tled to the necessity of importing from dollar areas, to buy their necessities more

"Most of the criticism may be thought to be directed against: British and Bolivian producers, but in so far as it was suggeslod that the recent advance in the price of the metal was, in some part, duo to speculation and i was proposed that the tin mar- kets In Singapore, London and New York should be closed, it obviously becomes my duty to comment upon the report of what was said.

HONGKONG

The

SHARE MARKET

R. I. Le

ROYAL

INTEROCEAN.

SINGAPORE JAVA PORTS and MACASSAR

“TJITJALENGKA” **

"VAN HEUT8Z" •

"TJIWANGI”

"TASMAN” •

ARRIVALS

18th Mar,

27th Mar.

29th Mar,

• only to Bingapore, Penang & B, Dell,

*

not calling Singapore,

• MANILA, EAST &

SOUTH AFRICA and SOUTH AMERICA

BREAK TANAS".....

ON WALL

STREET

New York, Mar, 13.

A short-lived selling wave to- day knocked the stock market; down in the sharpest break in more than three months,

"BOISSEVAIN" "STRAAT BOENDA" "TEGELBERG”

> not proseeding to 8.

† not, calling Manila.

⚫ JAPAN

"VAN HEUT82”

"TJIPANAS"

"TJIDESAB”

"STRAAT SOENDA"

"BOISSEVAIN"

*TEGELBENG”

ARRIVALS

In Port 4th Apr. America.

ARRIVALS.

,17th Mar,

17th Mar.

.22nd Mar.

24th Mar.

7th Apr.

6th May

LINES

SAILINGS 19th Mar, 20th Mar.

1st Apr.

8th Apr.

SAILINGS

22nd Mar 24th Mar.. 25th Mar. 8th Apr.

8th May

SAILINGS

20th Mar. 6th Apr.

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

The blow fell shortly after noon. Sellers crowded into the markot with offerings so large "Ia so far as the strictures

volume of business that the quotation tape ran as the Stock Ex-much as three minutes behind might be thought to apply in part transacted on

in reporting floor transactions.

and MALAYA cheap'y and to the London Metal Exchange, i change this morning was $295," The worst of the selling pres-

half day's business Th

"AAGTEKERK" wish to emphasise that specula-975. The

closing tion on the Exchange in this and noon

prices were sure was over in less than 90

"ALMKERK” minutes, but prices never made motal has been practically non- as follow:

SHARES BUYERS BELLERS SALES real recovery effort the rest existent.

BANKS

of the day. HIK Bank XD

to halt the world's inflationary spiral almost overnight.

He sald

revaluation of the Australian pound would help to check Inflation here.-United Press,

American

Shipments Of Rayon

For Freights and Further Particulars please apply to:-5 percent to 99,000,000 pounds,

AGENTS:

JEBSEN & CO.

Pedder Building

PENINSULAR

QUIS HOS SEPARABIT

Tel. Nos, 26661-8.

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CARTHAGE"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 16TH MARCH" at NOON

UNITED for the

KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at NO. 2 GATE, CANTON ROAD ENTRANCE by THURSDAY the 15TH

NOON on MARCII.

SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.

EMBARKATION: Will take place on FRIDAY the 16TH

between 9.30

and

MARCH 11 a.m.

Exchange Rate In Pakistan

Karachi, Mar, 13.

The State Bank of Pakistanı today authorised its branches to buy from and sell to authorised dealers in Pakistan, Indian Rupea at the following rates:

a.m.

American Output Of

to

"As it has often been pointed cut, prices on the London Metal Exchange

alt merely

barometer as to what is going on

i elsewhere," the letter continued. || INCIANCES

is going on elsewhere

ls due mainly to the interven-

30 @ 1130

Declines went to around US$3 falling as

Brokers

They had break like

Sume

were not surprised.

been expecting a this for some time. The market reached a 20-year peak about a month ago. A

1330

20 1343

20 1350

20 a 1360

a share with

10 1360

much as six.

Past Arla

102

Union

$70

50 000

Unterwriters

3.90

JIK Fire

140

Asia Nav

700

United

KS, ETC.

K. Wharf

N. P. Whart Dock

al

13

tion of governments, and the principal offender in this re-554 speelt may be for perfeely

sound reasons

States of America.

the

Provident 11,00 S'hal Dock.. EX Wheelock .. 20% LAND, ETC.

HK Hotel XD IIK Land S'hai Land UTILITIES

RED LIGHT United States is the "The richet and most powerful na- lon in the world, and if she acts and speaks in such a way as to show the rest of the work that she is determined to absorb at loast the world's surplus of any commodity, hor words and ne- Mons are bound to be in the n- ure of a red light to every one else, warning them that if they wish to acquire any of the raw INDUSTRIALS materials in question they had better do so, more especially as time is an essential factor,

"It is this policy of the United

New York, Mar. 13, Shipments of rayon by U.S. producers in February declined

compared with 104,700,000 pounds shipped in January, the statistical bulletin of the Textile Economic Bureau Incorporated reported today. Delays in re- cerpt of raw materials were due

the railroad strike. Shipments for the first two months of 1951 totalled 204,300, 000 pounds, an increase of 4

which hos caused tin percent over the same period of States Last year.

Tutal flament yarn and many other commodities to shipments, rose 3 percent to rise to such levels, It is a com- 153,000,000 pounds, Including piete misunderstanding of the 50,500,000 pounds of viscose high facts to suggest that this is due of the open tenacity yarn, 53,200,000 pounds to the existenco of viscose cupra yatn and markets. 50,100,000 pounds of acetate. "I do not lose sight of the Staple shipments totalled 50,500,- fact that it might be possible to 000 pounds. Rayon flament yarn set up such a scheme as was stocks held by producers In existence during the laat amounted

require a to 9,000,000 pounds, war, but it would compared with 10,300,000 in the war and command of the seas previous month. Rayon staple to do Go and in peacetime I stocks totalled 3,800,000,

belleve it would be impossible With producers' stocks at to devise any scheme which nominal levels, it is pointed out would be effective/-Reuter. that future shipments of the

LONDON MARKET Industry at best can reflect only

London, Mar. 13. the current production.

The tin market was steadier Imports of rayon staple in 1950 this morning. Turnover was 115 reached a record-breaking total tons, all for three months.

ננת

Tram XD

100 @ 01 5.20 7000 G 5

314

1.30 1.45

11.40

1000 @ 11,00

reaction from that height was

схрест

totalled 2,330,000 shares-biggest shico Feb. 13. Nine hundred and ninety-six issues declined and only 81 ad- 900 2015 vanced. Among stumblers were Nickel Plate, Illinois Central, Sunta Fe, Superior Oll of Call- fornia, Western Union, Dow Chemical, American Wooltea,

Dow Jones Averages: Stocka

C. Light (0) 5.00 6.10 500 a 3.00

3.70 C. Lht (N) C. Light (13) B.01 Electric XD 21 223:

Cement

10 XD STORES, ETC.

Dairy

Watson COTTONS

EWO

U.S.

134

20 Industrials

500 6 2216

200 2335

15 Rails

10 Uulities

91.14

245.88

01.42

42.65

-Associated Press.

2000 New York Sugar

2.65 500 m 219

Cotton

For India

Oakland, Calif., Mar. 13.

Futures

New York, Mar. 13.

futures closed World sugar here today 4 to 7 lower, with sales tolalling 171 contracts.

Contract No. 6 closed today unchanged to 6 lower,

with sales totaling 316 contracts,

Prices closed today as follows:-

Cotton for mills In India is May

Contract No. 4 (World), being received at the port of July Oakland through March 30 for September the Wolverine State, a States Spot Marine Corporation steamer Contract No. 0 due to sall for Bombay about July Apr 1 with 22,000 bales of September cotton, the Port Authorities an- Spot nounced today,

The holds of the steamer will

from

Mpy

9.50

5.40 bid

6.40 bid

SAD iraded

5.44 bid

8.50 traded

5.02 bid 1.45

United Press.

twice the previous record year's of the official morning session as of 91,199,000 pounds, almost Prices closed today at the ̈end ime imports of 47,402,000 pounds in follows:- 1939. Imports in the last quar-Spot tin, buyers

1250 of ter

1950 averaged over spot tin, sellers

1270 11,000,000 pounds monthly. Business done att France supplied

of Three-unis tin, buyers 1,005 18% percent the imports.

only port of call for the Wol- The next largest months in, sellers 1.100

Business done at ..... 1.100-1,000 supplier was the United King-Settlement

with 17 percent followed by Belgium with 13 percent, Ger- many 9 percent and Switzerland 8 percent. In January, rayon staple imports amounted to 10,744,000.pounds, a 5 percent increase from the average

| be' filled with 500 lb. bales New York Rubber

California's San Joaquin Valley, one of the nation's largest cotton producing areas. Part of the cotton was loaded in Los Angeles. Bombay is the

monthly level during the first quarter of 1050-United Press.

Import Permits

Granted

1.200

-United Press.

LEVELLING

OFF IN

NY COTTON

Futures

Prices

New York, Mar. 13. Rubber futures closed today verine

State on her outbound unchanged to 200 points lower,

with no sales reported. voyage,

Cotton shipments to India are were around 5 to 8 cents lower a seasonal service each year,

Prices closed today 08 States Line officials said. Cotton

than a week ogo.

is now California's number one follows:-

Spot cash crop, according to the March

of Com-May California Chamber merce's Agures. Cash income July from cotton amounted to $25,- 000,000 in 1949. - United Press.

00.00

80.00 asked

(2,00 bid

59.00 nominal United Press.

Rubber Futures

New York, Mar. 13. Japs To Control In Singapore

Oil Refining

to

the

Singapore; Mar. 13. Prices of rubber futures closed here today as follows:- Number 1 rubber, per ib.

March

April May Number 3 rubber, March

208-209

204-205

199-200

100-199

183-185

"LANGLEESCOT"

to

Through B/L issued Mediterranean and Northern European Ports.

• JAPAN "ALMKERK" † "LANGLEESCOT"

❤

+ via Manila.

ARRIVALS

In Port ..2001 Mar. Mid. Apr.

ARRIVALS

..2nd week Apr,

May

SAILINGS

14th MET,

2nd week Apr. May

SAILINGS 20th Mar, Mid. Apr.

WAKINGS/BUILDINGSNTELEPHONES) 520015 ATO Z2801724

STANCHİSESİ ARNISČMIŽ CONNAUGHTÉROAD, GEILIS MING BU

BEND LINE

AND

FAST SERVICE TO UNITED KINGDOM AND CONTINENT

BY

S.S. "BENVORLICH"

LOADING HONGKONG 20th MARCH

FOR

LIVERPOOL & ROTTERDAM VIA

KOHSICHANG, STRAITS, COLOMBO, ADEN,

PORT SUDAN & PORT SAID.

W.R. LOXLEY & CO., (CHINA) LTD.

New

стор

cotton futures showed sign of levelling off Buenos Aires, Mar. 13. after four days of sagging prices. The Central Bank of Argen-Nearby old crop March and May lina announced that it will au- deliveries rill held tight to

the

Tokyo, Mar. 13. tomatically grant impart per- celing price of 45.39 cents

a General Douglas MacArthur mits for newsprint and other pound. Trade buying orders for

transferred goods from Sweden,

those months

continued today The Bank issued two lists of exceed the volume of offerings, authority over the allocation Number rubber, March

Japanese Government complete Number a rubber, March..

173-174 articles that Argentine importers March position at the start of and refining of crude oil.

200-210 Spot rubber, unhaled ! could

tom Sweden under trading had been whittled down buy from

146-140 The Kyodo news agency, re- Black crope trade to 100,000 bales. A private mar- the Swede-Argentine

206-213 No. 1 pala erepa treaty. The first list includes et advisory service urged its the

said that porting the. transfer,

United Press. Economic Stabilisation goods importable at the official cilents to "ell October down to

Board had plans to increase exchange rate and for which 40 the

cent

the will grant automatic

daily allocation of crude London Rubber The market opened unchanged oil to refineries from the pre- Include new to off 18 points. After casing to sent 34,800 barrels permits. They

to 43,000 Los Angeles, Mar. 13. print, certain types of paper, losses of 11 to 18 points, the next month Reuter. The nation's synthetic rubber communication sets, wires, car market rallied 30 points from

Synthetic

planta by June should be pro- tain

Bank

Pricca closed today as fol-

Spot March May

40.00 45.38 bid

types of iron and steel, the lows to close a net 2 lower ducing 900,000 tons a year, lumber. Buying: Indian

industrial textiles, Rupees 133, forestalling any

to 11 points higher. shortage of ma Annas O, Plas 9 to 100 Pakistan Vice-President J. Ward Keener United Press.

or other rubber products, parts and railway

machinery

automobile parts,

material.- Rupees.

of the B. F. Goodrich Company said today.

Mr Keener, also a member of the President's Wago Stabilisa- tion Board, estimated that tolal military and civilians rubber

this demands

will year

bo 1,200,000 tons. He predleted in lent of 50,000 Pakistani Rupees. | an interview that synthetic rub.

Selling: Indian Rupees 143, Annas 13, Fies 8 to 100'Pakistani Rupees.

All sales

and purchases are to be in amounts not less than

and in multiples of the equiva

Rutes for forward dealings in

an Indian Rupees will ba nounced when fixed-Amociated Presa

Pakistan

her will make up nearly three-

fourths of that amount.

Any temporary shortages, Mr

Keener explained, have been

Grain Prices

In Chicago

due to Government restrictions here today as follows:- on exude rubber while eyelhelle Wheat-price per bushed plante were being retooled .for

full production Fabrumy was

Search the low month in rubber output,

For Oil

Karachi, Mar. 18,

Pakistan'a fret oll, company,

but production, is now on the upawingAnopciated Press,

Copra Offors

New York, Mar, 18.

Spot

| March

*MAY

July

October

December

46.50

44.73

41.04-11.06.

40.20

March (1052)

50.0%

May July

Futures

Pepper Market Number rubber, in cents

London, Mar. 13. Prices of rubber futures closed here today as follows:-

per lb. April April/June July/September

New York, Mar. 13. In the black pepper market, October/December dealers reported that a fair-sized business was accomplished in nearby afloat supplies and for 10.81 nominal | March shipment. Loc ro- 39.48 nominal sellers quoted spot at between -United. Prem. 1.64-1.05, awalling release NEW ORLEANS MARKET

Closing rata March 13.

44.91

46.39

4330 bid

44.02 bid

10.93

at

1.02-1.63, nearby afoots, at 1.00 and fafer steamers at around 1.50 a pound,. all on an ex-dock basis.

March shipment was quoted at 1.58 a pound, April 1.57 and May 1.80 a pound -

40.00-40.13 Unifcki Press.

Chicago, Mar. 13. Prices of grain futures closed

Spot March

May July

October

2.4336

December

March (1932)

May

July

20.37, bid

-United Pres

RUBBER ESTATES

BY DIVIDENDSAY

Beptember December Corn:

Epot Xdarch May July September December

began its soorch for out today compared with $280 at the

MAY July withtyfest⠀e drillingu In 100 previous. close, Cocoanut oll Oatay Fatbaria Huis of East Pakistan, continuest at. 21: "gents. bordering on. Buma Asao pound, 3.0.3. mills. United slated From..

Pakistan Petroleum, Limited,

Copra was offered 'at $277.30.

ton, C.LF, the Pacific Coast Bres

Per

Prem

17013

1.783 bid

March May (“New York, Dow

200 1b. Back

$9.33 bid

39.475 bid

ני

0335-0835 03-0334

01942-02

5344-001

62-6714

United Press.

York Building.

Tel. 84165 & 88710.

S. A. C.

Every TUESDAY is SAC DAY to BANGKOK and DIRECT FLIGHT to RANGOON

BANCKOK/PENANG & SINGAPORE ON WEDNESDAY BANGKOK/RANGOON & CALCUTTA ON FRIDAY

For full particulars, please apply:

General Agents:

SOUTH EAST ASIA TRADING CO.,. (SIAM) - LTD.

69. Connaught Road, West.

Peninsula Hotel, Kowloon,..

Booking Agents:

Tel: 24292

Tel: 56416

AUW PIT SENG'S TRADING CO., LTD,

10. Pedder Street, Tel: 26733- CHIANG HOAT HONG

340-Queen's Road, West, Tel: 36204 -

Pacific For East Line, Inc.

Fast Regular Trana-Pacific Servico.

DIRECT

BAN FRANCISCO, LOS

ANGELES

!#TOM

ZOVERLAND

NEW YORK-CHICADO DETROIT-TORONTO KONTREAL" AND ALL. AMERICAN • CANADIAN CITIES

Bars Francisco

Straits

Ban Franciscó

Balfa...

For

Exchange Rates

“T. JĄ LUCKENBACI“ "CALIFORNIA' DHAR“ The Director of the Kota | '~PHILIPPINE ‘URAR" Bahroo Rubber Fatates ((1921)

“J.-L. LUCKENBACH"

Duwines was done in the locata, have decided to pay lán

market this interim: dividend, for the year "EDGAR LUCKENBACH" exchange morning at Uis rodowi

ending 30th June, 1031 at the rito' of twenty cents per share, Shea+of+kuk,” to be"payable": to Members" on: record on Aprit; 9;

10.00) 19513

Wer full märtsislara önti Cinora Agendă,

San Francisco via Koba

Yokoham Ben-Frenchico via Tokoba

San Francisco via Kobe

Yokot

·Bass: Franco

+fXEnpore, \Djakart

pel Dombay de Marsand"