1951-03-26 — Page 7

MESSAGERIES MARITIMES MOM

"MEINAM” "GRANVILLE”

ARRIVALS

from Japan

from Japan SAILINGS

PASSENGER/FREIGHT SERVICE

-“TELEX MOUSSEL” "LA MARSEILLAISE" "LA MARSEILLAISE"

"MEINAM"

27th Mar. 20th Mar,

to Marcellies via Manila 4th Apr.

8th May to Japan -*-

to Marwellies via Manila 10th May

· FREIGHT ́SERVICE

"GRANVILLE"

"CDT DORISE"

.N. Atrica & Europe 28th Mar, N. Africa & Europe 31st Mar. .N. Africa & Europe 28th Apr. for

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

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

*M.S.

NEXT SAILINGS

"HULDA MAENSK"

M.S. "TREIN MAERSK"

M.S.

"PETER MAERSK"

THE CHINA MAIL, MONDAY, MARCH 26, 1951.

AMERICAN Good Financial Yea

SULPHUR

FOR UK Expected In Britain: R.PL.

Washington, Mar:-25.------ Commerce Department of- cials said today that Britain has been given a supplementary ex- port quota of 10.000 tons of sulphur to meet the current production: noods. This is part of an additional "quota of 30,000 tons for Marshall plan countries

Budget Relief Hopes

(FROM OUR OWN CORRESPONDENT}

London, Mar. 25.

It is now certain that the results of the financial year just ending and 20,000 tone for non- will show that the surplus for which Sir Stafford Cripps budgeted hus

Maruthall plan countries GR- nowmood earlier this woek

04

a supplement to the drst quarter export quotas.

was

been far exceeded-perhaps by several hundred million.

This has raised hopes that the Budget which Mr Hugh Gaitskell!|

than was at first expected. will open on April 10 will be less save re The 10,000 ton gure

It is true that this surplus is to some extent disclosed in answer to inquiries a reflection of the increased revenue arising out of the present inflationary situation. But this is only part of the story.

about reports that the United States is cutting sulphur con, sumption to give Britain extra

supplies in the second quarter.

sucr

PRESSURE

ROYAL

INTEROCEAN TELINES

---SINGAPORE JAVA

Bolts and

MACAESAR

"TJITJALENGKA" **

"TJIWANGI”

"TASMAN" •

"VAN HIEUTSZ“

ARRIVALS

In Port

1st Apr. .20th Mar,

13th Apr.

only to Singapore, Penang 2 B.. DEIL

not calling Singapore.

• MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA "HOISSEVAIN"

"STRAAT 8OENDA" *TEGELBER G“

ARRIVALS

4th Apr.

** not proceeding to 8. Ansorlon,

The surplus is largely the result of a shortfall of ON COTTON JAPAN

Government, expenditure below the original Estimates. This is partly due to genuine economies on the part of the Government. But to a much greater extent it is due to the fact that the nation's stocks of food and mw materials have been allowed to run down to a dangerously low level.

Officials pointed out that the supplementary quotas were i

as advances chargeable against quotas for futuro quarters of this year and may not result in any overall increase in sulphur shipments to Britain for the whole year. They recalled that United States sulphur producers cut shipments for the frat quarter.Lcom 8-15 per cent for U.S. consumers and 20 per cent for export. The now supple- mentary quotas restored Bomo of the 20 per cent cut.

that while Officials added sulphur delivery has been re- duced by individual phones in the United States, there been no culback in sulphur for begun

Mar. 30 Apr. 18 Apr. 29

the

* This vessel calls Vancouver prior to San Francisco.

ARRIVALS FROM U.S.A.

M.S. "LEXA. MAERSK"

M.S. "SALLY MAERSK"

M.S.

"CORONA”

National

of

next budget year when prices lies of raw materials was 30

the next

MARKET

goal

19

in

of

"TOISSEVAIN”

"STRAAT SOENDA" "TEGELBERG”

ARRIVALS

28th Mar.

7th Apr,

6th May

SAILINGS

STAN BEST, 8th Apr.

8th Apr.

„24th Apri

SAILINGS

20th Mar, 9th Apr. 5th May

SAILINGS

6th Apr

Agents: HOLLAND EAST ASIA LINE

• ̧EUROPE via MANILA

and MALAYA “ALMKERT"" "LANGLEESCOT

ARRIVALS ..

.SAILINGS

In Port

18th Apr,

M14, Apr. Mid. May Mid. June.

Through BS/L. Issued to Mediterranean and Northern European Ports.

“ARENDSKERK”+

+ vis Mansla,

18th May

ARRIVALS

Mid. Apr. Mid, May

SAILINGS

29th Mar,

24th Apr.

.Mid. Juno

24th May

GERINOS BUILDINGUTTELEISHONEST 2801T0=8017

Now Yark.. Mar.. 28. With the exception of near

May and July, which held But the reverse argument is by To the extent that thờ current |

cation at It is

the celling level, convincing.

met pressure on ax- year's surplus has been achieved even more

of a 60 pectations at the expense of vital national pointed out, for instance, that futures

per cent bas not be sot against American stockpiling stocks it cannot

needed for been entirely responsible for the boost in cotton production this "ARENDSBERE” the extra milions rearmament. Stocks that have rising commodity prices. It has year, been

because run down

been psychological rather than

After the opening, the mar a physical Lector in the markets.

to shortages and high prices must a

was unchanged Bakket The Jmnowledga that America points be buil up again during the The

lower, and the list n In the market for large the

close ruled unchanged to JAPAN points lower.The New "ALMKERK”+ may be oven higher.

hand, higher often exrough to start private Oricans market finished un-"LANGLEESCOT" On the other

inflationary consumers stockoiling their

changed to 31 points lower. developments prices and other

have only just own account while supplies

were to reflect in higher still available and before the At the annual meeting of the

increased even further. Texas Cotton Association export for civilian economy by revenue. This trend is certain | pric, ther countries have now Dallas, Mr Ralph B. Trigg, Ad-1:51

Production to continue through

to the started to accumulate strategic ministrator of the Production Administration Agency, which Budget according

year alloentes scarce materials under amount of inflationary stress that | stockpiles and would bring said that the United States 1951) real sign of aard Marketing Administration, as the rearma-

ma-recession in prices the defence mobilisation pro- is brought to bear

production unfolds, and them into the market in carnest, cotton ment programme this will have to be taken into Marcover there is no sign of any

(no.

4000,000 bales will probably bei demand,

The now goal is up 60 account in deciding how much recession in civilian

remains abnormally high, and

000 bale crop and calls for when the Chances, however, on hardly begun.

estimate of the Apart

from a large-scale trade Planting of 28,300,000 acres of upland cotton, 10,000,000 more Inflationary gap recession, the only hope for than were planted in 1950. which will open up this year. really lasting decline in primary The news from Korea also I his Budget 13 to be prices la

ls to increase production

help to shape the trend of the nothing and this point has been stressed market. The volume continued Some reports also stated courageous one and

*at erroneously--that

United else will suffice in the circums- at all recent international con-

GB“ | dovelopments, States is revising its "stock-tances the amount of "public" ferences on raw materiais. Un-all as traders awaited fresh

enforce

ree fortunately many of will

со the

Prices

closed -today ns piling poltey" to lower its tar saving that it

and other modities which are now in short

follows:- gets in regard to sulphur. through taxation

do not lend themselves measures to curb spending must supply United Press.

May to rapid expansions In be at least big enough to fill easily

production. Morbover,

gro-July ducers' proflis which, more than October angels, should encourage December

March (1052) maximum efforts to step up May output, are being reduced by July export taxes and other devices to slow down Inflation in the producing countries.

gramme.

discussion of of the cost rearmament is to be rearmament. Genand has per cent from last year's 30,000,-!

Apr. 22

May 8

May 15

A NPA omeloi sald has been some restrictions on sulphur, but no controls have been approved yet. He did not know

there

coming.

borne by the taxpayer.

Much

For Freights and Further Particulars please apply to:-uch restrictions might be forth size of the

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos, 26661-8.

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NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES

Vog

Sen Franchion

Strate

Btralia

Mar. 20 Mat. 17

·Apt.

Apt.

4.

'Gan Francised via· Kobe Di

· Ban - Tranej200

MY

serai Arvota, Unfied Sistos Line Cha

the gap.

COMMODITY BOOM

TAILING OFF"

Is the commodity boom be- ginning to tail off? Certain signs have appeared in the past few weeks to suggest that it is," but it is too early yet to say whether the recent recession from peak prices shows any promise of into a permanent

and

and.

this

40.00

1

-43.39 bid

45,39 bid

40.72

40.62

40.48 nominal- 4010

United Press. NEW ORLEANS MARKET

44.51

46.35

Spot

Japan's Exports

Show

Sharp Increase Owing To The War In Korea

Tokyo, Mar. 25. Japan's exports during 1950 were more than 75 percent higher than in 1949, the Japanese Finance Ministry announced yesterday.

The Ministry said that exports rose sharply with the outbreak of the Korean war, but world- wide competition for key materials and the ship- ping shortage, resulting from the Korean war, 1000 had hindered her imports.

40.40 40.Ji bid

40.00 d

-United Press.

These rose by only 17.14 per cent in the same period, the Ministry sald.

Japan's Imports exceeded exports during 1950 by 38,029

Wall Street million yen (235,815,000).

Out of a total foreign trade of yen (£628,323,- 832,093 million 000) exports reached 208,032 million yen (2290,255,000).

The

December exporte reached

Has A Dull Week 43,000 milion yen

a new post-war monthly peak at Average monthly imports for the latter half of 1950 dropped New York, Mar, 24. to 26,500 million усп from

offer greater, inducements 10 The feature of the week's 20.100 milion yen for the pre

Silk Expert

On Mission

•

To Japan

STOCK EXCHANGE

July The Stock Exchange

hus October

December presented a dull appearance this ac (1051) week. Besides: the normal pre-ay have Juty Three views of the commodity Budget hesitancy there price situation have been ex-boca the adverse influences of pressed, this week-end by well- the Feralan all dispute, the con- known economic commentators. finuing raw materials shortages Oscar H. Hobson, Inancial editor and the lack of progress at the of the "News Chronicle," affirms Paris talks to contend with. definitely that "The tide has In the gilt-edged market the turned."

But he admits that breaching of the four percent

in buyers "all that is in prospect at the lino" brought. moment is a slow and gradual led

conditions at the to firmer and

the week on

on Thursday. possibly not long-continued close of retreat of Primary

But the level of gilt-edgesi prices. "The Economist” makes that confirms the view that Colonial

Los Angeles, MRT 25. guarded statement that there borrowers, who are said to be

Mr. Paolino Gerli, President of are growing signs that the forming a long queue to raise

the International Silk Asocia

wbio general scramble for commodi loans in London, will have to

tion, is en route to Japan at ties has begun to exhaust itself

Government with whom he will the invitation of the Japanese while the "Stock *Exchange

Investors than the Northern Gazette" says recent falls in the Rhodesian Government, whose Stock Market was its dullness,vious six months.

Fibre and its products topped discuss the stabilisation, of silk price of tin and rubber should loan flopped so dramatically last It was shortened by the Good

Friday

prices, said, "The holiday. The volume the export list with 148,550 mil

and downs not be regarded as a herald of week.

was the smilest of the year. Hon yen (48 percent of the have violent On Tuesday, sales fell to the total) including cotton textiles 2 am going to try by mutual lightest level since Inst Oct. 3. with 74,100 million yen (24,9 discussion to find a way to Prices Armed in the industrial pero

and synthetic fire minimise the fluctuations and

the department and cased In

with

consumer a feeling of 18,030 million

J'en rail and utility divisions.

security (six percent),

Mr Gerii sald,

"I also will Metal and metal products Cizme zak? with 37,340 million discuss plans for promotion of

advertising... in several 'sessions. The

The publicity.. fa yen (19 percent). tremendous audience for sta

Indes, arid stock exports to keep silk before the Buble's television show put on by the doubled - those

of 1949 and eyes". Senate Crime Investigation

pointed out that the cum- Committee turned the atten- copper tripled

rent celling price in the United HE PURCHASES defied this movement and con-

tion of traders to television

United States topped States is lower than the cost of tinued to rise while wool His

New York, Mar. 25.. slocks, despite the fact that in both exporting and importing raw silk in Japan and he was also remained very firm

to try to remedy the Japan bus replaced Western venterics of sots had been The American stockpiling

He added, however, Germany as the leading buyer pilling up and some companies countries, accounting for 84,540

yen. (21.7 percent of situation. polley, which led to the present of second-hand ships

ho carries been forced to cut their million

no authority total

144,740 exports) and boom in commodity prices, now British market, the National prices. Oils were bid in several million. yen (43.3 percent of and can do nothing except as socza to be contributing to Federation of American Ship- sessions. wards

movement.

a general

cral collapse in world

commodity prices.

rubber have

been

Tin and rubbe outstanding "retreat in temples, of this in primary prices but other commodities notably grain, tungsten, and

Egyptian (but not American) cotton-have

LED tended to fall

away from

the peak levels attained at the beginning of March. Sisal and

jute, on the ou

other hand,

have

Japanese

Buy British Vessels

Following the

pension of all ping reported today,

of tin for the

now purchases

the tort)

Airlines had a good market

on the hnd

The

the total imports).

was the

American reasonably been bought by Japanese ship- Steels were in demand at one ports with 20,000 million yen

+

2.

that

ups

markola

Sounds Like

a private eftizen. He is com tactable second

in Japan through The Industry continued to Pakistan

at near-record levels biggest buyer of Japanese exTokyo representative, Mr T Thirteen vessels had already operate

Wakimoto,United Press. until the

followed by price, was more

the

percent) under a recent time

4 (8.7

with 19,121 million Hongkong hesitating ping Dams markets have been

Government aid grant of $10

Auto issues.ruled firm when it General belled is that the Ameri-

(6.4 percent) and Indonesia yen million.

was indicated that the industry with 16,663 million yen (5.0 cans will not stop at this attempt

Japanese to force down commodity prices

merchant marine wild break all wecords in history percent)...),

Formosa, South and, that the

of fin growth, had been so rapid that for the Arst quarters of produc- Thalland, cessation purchases heralds a so-slow her shios would be able to carry on Container lastics, had Africa, Britain, Australia, Ar- movement in American stock about half of the anticipated good market at one time. There gentina and India followed In

Montevideo, Uruguay,**** piling generally. Rubber, Which 1951 import volume of 13,000,000 were strong spots in issues of a that order, Ly

commodity haltro mich "as cop-

Mar 25. Second on the import list was like tin owes much of its recent tons, the report sald.

pers and corn predmet stocks.-- Australia, accounting for 260,190 A Uruguayan poper-making strength to American sloékpiling,

Tilted: Press.

million yen (7.8.,percent) fol- export was reported to have was naturally one of the first to

lowed by Thailand with 15,360 developed a now process, Lur climb down.

million yen (4.8 percent) and making newsprint

SOME HOPE

· E-

The Federation recently pro- Truman tested to President about the unwarranted pansion of Japanese shipping the United a menace to

merchant

The argument, that a general recession from peak prices has States

Router. begun is based on the evidence of American and British com modity price indices. evidence

along the

On

this

argument COTTON MARKET

REVIEW

3

Prices

Grain

In Chicago

Prices

not seem very convincing. as we have had ample proof in the cost of living index of the

New York, Mar. 24. unreliability of this method of

Tryders concentrated their here today levels But measuring price:

for the attention on the current March there may too some, bure,

Liu, Bolivery which went wollthe Spot. belief that pricus will soon begin Board at noon on Friday at 45.39 to loyal alt the fact

bid. M.Friday's close, the list DORMITIEK resistance bas Falcoady ruled 18 points lower to 24 pointe bocoa evident, long before the herd0 cents bale, lower to affect of riding commodity prices 41:6 4.

balo

higher-comparest = sha han: beesy fully refecand in the price of

theʻrising freDKI JOB:15

renowed

by month period ended Bla

substitute the 2/8mArticulaty 6,072,428 bados, ita dzie: o

for fures and theme dronte are ing period of last now beginning to yield results. Prem

hlongo, Mar. 24.

futures closed

The Solution

from

ico

Gozalbo

wLS/

the Chinese mainland with. 18,- and wheat straw.

million. (4.1 percent). Raul Garcia Maloys, Fakistan, Formosa, said to buve solved the probe, Argentina ag the Philippines lem of using air for paste followed in that order-Reuter,

Japanese Get

Big Contract

The Australian his awarded wit Japanese flex one milion

Max," 26" Government

Innocent demonstrado

demonstrallong- bes ford the Ministers of Indust

and National Defence and load ing nowspaper.

Gombo was said to have his strawlinoweprint series of successful festa, from pine-a-making to the winding int rolls for the pres

Gazalbo wadd his procons Fisica ton of paste from cover) two tabs of straw and that que Lun of the paster mando a litt over one ton of paraprintS

sega rica and

nest #1,000,000

to