1951-03-19 — Page 7

THE CHINA MAIL, MONDAY, MARCH 19, 1951.

MESSAGERIES MARITIMES HONGKONG Persian Oil

M

*MEINAM"

ARRIVALS

from Japan

SAILINGS

M

PASSENGER/FREIGHT SERVICE

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

"HEINAM"

"GRANVILLE"

"CDT DORIBE"

26th Mar,

to Marsellles via Manila 1st Apr.

6th May to Japan

to Marsellies via Manila 19th May

FREIGHT SERVICE

..N. Africa & Europe 27th Mar. ...N, Africa & Europe 20th Mar, Europe 28th Apr. ........N, Africa &

for

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

"DOCTEUR YERSIN" ..for Saigon

21st Mar.

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "LAURA MAERSK"

"HULDA MAERSK"

*M.S.

M.S. "TREIN MAERSK"

Mar. 19 Mar. 80

Apr. 14

• This vessel calls Vancouver prior to San Francisco. ARRIVALS FROM U.S.A.

M.S. "PETER MAERSK❞

M.S. "LEXA MAERSK’

M.S. "SALLY MAERSK”

Mar. 29

Apr. 21

May 8

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 26661-8.

BEN LINE

FRE FAR EAST

FAST SERVICE TO UNITED KINGDOM AND CONTINENT

BY

S.S. "BENVORLICH"

LOADING HONGKONG 21st MARCH

FOR

LIVERPOOL & ROTTERDAM VIA

KOHSICHANG, STRAITS, COLOMBO, ADEN, PORT SUDAN & PORT SAID.

The

SHARE

MARKET

volume of business transacted on thie Stock Ex- change this morning was valued at $100,480. The half day's bus- Bees and noon closing prices were as follow

#HARES DDYERS SELLERS BALES DANKS

15 @ 1315

I Bank XD 1300

205

12 0 00 0

000

Underwriters 3.20 3.00

INSURANCES

Oneston Union

DOCKS, ETC.

K. What .. 80 N. Pi, Whart Dock*** Provident. 1993

8.20

13

LAND ETC

Nationalisation

CU

Would Leave Vacuim In R.J. L

The Country's Economy

(Our Own Correspondent)

London, Mar. 18.

There is every reason to believe that responsible opinion in Persia realises that if the threat to nationalise the Anglo-Iranian Oil Company is carried out it will leave a vacuum in the Persian economy that no amount of nationalist zeal can hope to fill. The difficulty is to convinco the nationalists of that.

-

capital. and "know- The company has what the country hasn't how," without which an oil industry cannot be run. No doubt technical 12 700 11% and financial assistance could be obtained from some other foreign power but even if the Persian nationalists were able to reconcile this with their fanatical xenophobia they would still have enormous problems to face.

•Inc Hotel 5.20 5.00

TIK Land... Humphreys

UTILITZES

Tram XD

C. Last (ERO) biective D Telephone

.... 20.00 1131⁄2 1200 @ 1

5.50

INDUSTRIALS

Cement XD Hape XD

STORTS ETC,

Warbor

24 022

B0010

Britain To

Get Sugar

From Cuba

1

India's New

The Anglo-Iranian Oil Company runs one of the largest tanker fleets in the world but this would not be included in the nationalisation "prize." The Persians would therefore be left with the oil but no means of transporting or Trade marketing it. They haven't oven roads or rall- ways to enable them to sell oil to Russia or Palds- tan.

reforms.

their

It

Pact

ROYAL INTEROCEAN

℗ SINGAPORE JAVA

PORTS and

MACASSAR* ·

"TJITJALENGKA”

"VAN HEUTSZ” •

#TJIWANGK

"TASMAN" •

ARRIVALS

21st Mar.

In Fort

.27th Mar,

..... 20th Mar,

部 only to Singapore, Pentang & B. Dell.

*

not calling Bingapore,

• MANILA, EAST & SOUTH AFRICA and

SOUTH AMERICA

"TJIPANAB” "TJIRESAD" ** "BOISEVAIN"

"STRAAT SOENDA"

"TEGELBERG"

*

+ not calling Manila

ARRIVALS

LINES

SAILINGS Zird.Mar.

21st Mar,

- 1st Apr.

8th' ADT.

SAILINGS

20th Mar,

In Part

24th Mar,

27th Mar.

In Port

8th Apr.

4th Apr,

not proceeding to 6. Amerion,

• JAPAN

“TJIBESARN

"BOISSEVAIN” "STRAAT BOENDA"

"TEGELBERG

ARRIVALS

„ztod Mar.

20th Mar,

6th May

Bil May

SAILINGS

20th Mar,

6th Apr.

Agents: HOLLAND EAST ASIA LINE

New Delhi, Mar. 18. India and Egypt have signed a new.trade agreement, it was

• EUROPE via MANILA Moreover the Persian Govern- policy is to "et the inflation that officially announced here today.

Egypt will export to India raw

and MALAYA ment

to receive is already in the blood stream would cease

fax cotton, yarn, gypsum and royalties from the company and work its way out in rising prices

oils and off "LANGLEESOOT" the bulk of

national (with all the handships and at- and Impant to manufactured "ALMHERE”

tobacco, certain oils

abellac, Goods,

coffee, cotton “ARENDSKERK" would mitomatically ficulties that that involves) but Revenue

manufactures of disappear nong with any hopes to resolve that there should be plece-goods,

-Through B8/1, fssued to they have of carrying out social no fresh crop in 1962 so that fron and steel, cutlery, electrical

Mediterranean and Northern price will before too long reach goods and sanitary wares.

European Ports. Set against those very real a plateau and level of

The present agreement, which disadvantages the offers made by

however, that intakes retrospective effect from● JAPAN admits, the Anglo-Iranian Oil Company practice neither tail of this Mar. 1, wil be in force for ane

"ALMKERK"+ can be filled com-year. They scom very generous,

with cription concluded

aim should bc, an agreement

It makes no provision for the "LANGLEESCOT"+ Havana, Mar. 18.

the

late Prime Minister, General Pletely. The

however, to get rid of "all art-export of rice to India for jute "ARENDSKERS"

+ via Manila. An authoritative source said Razmara, providing for increased ficialities and distortions that a goods to Egypt but it was under-

the today that

negotiation royalties but it was not ratifled.

decade of suppressing inflation stood that a separate pact would butween Cuba and Britain for a They have now put forward pro- has produced."

be concluded later to cover these sharing and selling prosnis for a 50-30 long term buying

In principle prices should be commodities. other

trade agreement Too agreement on sugar and

with the Persian Govern- allowed to find their own level profits

Last commodities are well advanced.

the Persians and "there should be a deter between India and Egypt expirod ment but so far

mined effort by using all the in July, 1030-Reuter. The informant said talks are have not reacted.

although the

remedies old-fashioned Meanwhile,

- by under way at Torquay which

monetary

ary polley, by restriction involve a trial three-year agree-agreements for increased royalty

of credit

dit and public retrench- ment under which Britain will payments was never ratified by of purchase

least the Persian Parliament the comment to cure inflation in the at annually .5,000,000 tons of Cuban sugar pany has agreed to increase its only way it can be cured-that and make small initial purchases royalty payments in 1951 con is by pulling the total of demand down until it is no greater than of Cuban fruits and vegetables, siderably in excess of those due

under the original agreement in the available supply" principally grapefruit,

In return for these British 1933. purchases, which are to be paid

The

and

of

the which

seem pre-

and

Tho

STOCK EXCHANGE 1

significance of the

to extent tor in dollars, and not sterling, Persian Parliament Cuba will

make sweeping parod to cut off their nose to elimination of United States spite their face can be judged Northern Rhodesian loan failure that it puts an end, tem- preferentials on 40 to 50 pro- from the fast that the agreement is

Tatify made porarily at least, to any hopel

medium- ducts, including automobiles, so they refused to as to enable Britain to enter the provision for royalty payments of raising further

Government loans at Cuban market and earn dollars.

1048 and 1949 of £18,067,786 dated --United Press.

compared with three and a half per cent. £22,890,201

The loan reached the mar- corresponding payments under

o particularly unfor- the terms of the original agree-ket at

On Wednesday, ment of £9,172,245 and £13,- tunate time.

the gilt-edged market ex- decline perienced its biggest for some time. This was due to a combination of factors. The present account closes on Budget Day and this does not make for strong nerves. More- In Wall Street and this had its effect in London. over there has been a decline

In its

Bank Mission In 100,271. These and other equally the day before the lists open-

Iraq

generous offers' were down by the Majlis.

It

turned ed,

FALSE ARGUMENT Baghdad, Mar. 18.

has been said that the Khwaja Ghulam As Saye- dian. joint

adviser British Government, which has economic to the Government of India, carried out many nationalisation International Hank Mission. The in no position to object when an arrived here today to join the projects on its own account, is a vital advising Industry in which it has

• Presen

interest is

is nailonalised by the country on whose soil it stands, That argument has no relation to the present case.

Mission is atTM the Iraq Government.

Mohammed Yunus, the Indian Charge d'Affaires, and Mr Ivan Rooth, the Swedish chief of the International Bank Mis- sion, met Khwaja Ghulam on his arrival-Reuter.

Sudan Stops Trade With Israel

The British Government has pointed out in a note to Persia that under the terms of its agree ment the company's operation cannot be terminated by an act such as "nationalisation."

Moreover, the more extreme elements in Persia are now de-

Dot

has

present overloaded issue on the was bound state any new git-edged market

on

to have an adverse effect

+ few days prices but even

go the most critical observer than that the Northem Rhode

to say more was not prepared slan terms were "rather close to the knucide." In the event, 94 per cent of the foon

WEB

ARRIVALS

.21st Mar. .18th Apr. 18th May

ARRIVALS

Mid. Apr. „Mid: May

Mld, June

SAILINGS

MA, Apr. MIA. May Mid, June,

SAILINGS

27th Mar,

24th Apr,

2412 May

MAKING'S BUILDINTERI BELEPHONEST 2MORENO PRISE

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 held 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 Sailings to JAPAN and WEST COAST-U.S. A.-EAST COAST

left with the underwriters. The with transhipment cargo accepted for Jamaica, Havana and other Cuban Ports,

WDD

Northern Rhodesian issue manding

that the British be "thrown into sea" and the oll of £5,500,000 of three and a

without seized Cairo, Mar. 18.

in-half per cut loan stock dated Industry

1970-72 at a price of 99. The Egyptian Minister of demaifying Britain.

This

These terms suggest that the Sudan Affairs salā today that

latter threat may trade

to the authorities had taken care not relations between the make much difference Sudan and Israel were going to situation because not many of to make the same mistake that share caused 43 per cent of the re- company's 40,000 be ended. Egypt would buy up the all the Sudan's simplus goods. holders are naive enough to be- cent Southern Rhodesian Loan love that their shares will be to be left with the underwriters.

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

York Building.

ESSENTIAL SUPPLIES CERTIFICATES

Application

Forms for

Tel. 34165 & 38710.

RODO HOUSE

240, Tai Po Road, Kowloon, Tel. 5097's

Cable Address: "RODÓHOUSE" The only House that offers ex- vellent and comfortable accommo dation at moderate charges.

High class cuisine where meals cost 40/per day.

also Venezuela at

COMPETITIVE RATES OF FREIGHT

DUE FROM:

bought by the Persian Goverz But, although the terms of the S.S. "FLYING INDEPENDENT" New York via

British latest loan compared favourably with those of the Southern

+

ment

shares Q3

in nationalised industries were

Exchange Rates bought by the British Govern- Rhodeslan Loan, they were not

FIC plastres (per 100)

ment

Manila March

24th.

SAILS FOR:

Kobe, Nagoya, Yakškama. San Francico, Los Angeles, Now

Baltimore, Philadelphis, Boston

Panama Canal. March 28th.

LIMITED PASSENGER ACCOMMODATION AVAILABLE

Above Dates Subject to Change

Rufficiently generous to draw a markel which is still trying to Thirstow wow done in the local

INFLATION. MENACE digest the overdose of nation- Thi unofficial exchange

alised steel stock. moredog at the following rates:

15.58

'Inflation

Rhodesian gathering is now

The Northern Sterling note (per_2)

404 US. dollar (per $1) ....

3.80 momentum at such a rate that failure caused a further decline Indonesia guilders (per 100)

$0.00 it can no longer be ignored. "The in

gill-edged market on the Bem tica (per 100)

1470 Beonomist," one of the soberest Friday, and dealings in the now Singapore (Stratta)

14.00 of the week-end reviews, says stock opened at two discount, today that in the next twelve After. fuotuating between 2-5/8 nonths the British people will and ver, the new scrip Anished and 1-6/3, with a considerable experience a foll in value of turnover,

at two discount. The Essential Supplies Certifi-

their money such as they have back

at the now * stock rarely if ever known before.

cheapness

amount Tokyo, Mar, 18.

certain cates may be obtained from

There are two ways of dealing caused Kobe trade circles reported

with

an inflationary problem, as switching and this was reflected South China Morning Post ment

of import Remember our slogan "A littia the receipt

lowering in the price of offers The Economist" points out. The in a for cement Limited.

Pakistan spent, a lot gained,“.

from ranging from 6,000 tons to 10, first, and one we have been try other Colonial stocks which lost GENERAL AGENTS:

la to up to a quarter. past ten years, ing 000 tons. - United Pre30.

suppress it by imposing controls, rationing, raw material alloca cation and all other means of

10 CENTS EACH.

for convenient

Car provided travel.

Register now, to avoid disappoint-

Y. II. Chan, Manager.

2 FLIGHTS

WEEKLY

Pakistan Offers

IT CO-OPERATION WITH CẠT

NORTH to

TAIPEH & TOKYO MONDAYS & FRIDAYS

SOUTH to SINGAPORE BANGKOK

"WEDNESDAYA A"SUNDAYA juda

aster COACH SERVICE at reduced rates!

PACIFIC OVERSEAS AIRLINES, SIAM

"10%

the

with which we

A

of

For Information Apply to:

A.P. PATTISON & CO., INC.

CHINA, FORMOSA, KOREA, JAPAN AND HONGKONG.

Tel: 25346 12-14 Queen's Road Central 4th Floor.

CHINESE AGENTS:

curbing creegs, mending power Coal For Japan OVERSEA CHINESE STEAMSHIP CO., LTD.

familiar in this country.

The danger of this method,

Is that it must go on

Tokyo, Mar, 18.

A total of 64,072 tons of cok-

48 Bonham Strand West, 1st Floor.

however, for 'ever--Or invite even worse ing coal from the United States inflation when controla are and India between Mar, 12 and the Mar. 31 is expected by In a yawata eventually dropped. event, to attempt further up Co., including 44,180 tons from Iron Manufacturing

pression now would merely be the United States and 20,492

to

invita more trouble, since the mainstay of wartime controls from India,

freeze-lan Nearly one-third of the Amer the voluntary wage

coal has already arrived. Lons, i Cocond method of dealing

The

remainder, 9,445

Indian The with inflation is to let it run expected on Mar. 18. its course. If this method were coking coal of 8,671 tone is due

adopted prices would continue to on Mar. 10, and 7,310/ tone is soar until they reached a point due on Mar. 25-United Press. where they would level off. But

this phen for, all" melled sof

T

dooling with Indation would be, Japan's Trade With "CAL to usg The Economist's" term; "socially corrosive."

HARD CHOMIE

This is a difficult choice to have to make? There is no doubt that, politicians, Will favour, the frat petfiod or an attempt combine to two.g

Indonesia

Tokyo Mat,18,"

favourabie Japani hanka balance of trade of $20,000,0 with Indonéma, urider the Change iunderdo (now) trade cirates

option cloth

Tels: 26127 & 81119.

Pacific Far East Live Inc.

Fast Regulat Trans-Pacifio Servico

OVERLAND

·NEW-YORK-CHICAGO DETROIT-TORONTO MONTIRAL AND ALL'AMERICAN & CANADIAN -CITINS

DIRECT

BAN FRANCISCO, LOS ANGELES

Froma

Artivos

Bom Trancis

Mar

Stráite,

San Francisco

HWÄLUCKENBACH":

INIA: DEAR",

"PHILIPPINE ;ZHAR"-

San Francico vil Yokobati Sen Tranule

Yokohan