1951-04-09 — Page 9

Page

THE CHINA MAIL, MONDAY, APRIL 9, 1951.

MESSAGERIES MAINTIMES Peking's Colonies Play Major R.I.L.

MOM

"ONEST"""

"LES GLIERES"

ARRIVALS

from Europe

from Europe

SAILINGS

PASSENGER/FREIGHT SERVICE

"LA MARSEILLAISE” "LA MARSEILLAISE" "FELEX ROUSSEL"

"GRANVILLE"

"COT DORISE" "BREST"

11th APT. fat MAY

8th May

Trade

Claims

San Francisco, Apr. 8. Peking Radio reported to- night that China's foreign trado in 1950 was several times greater than in 1949, achieving a favourable "ex-

to Japan via Manila .... to Marsellies via Manila 19th Mayport balance of 9.84 percent

to Marseilles

FREIGHT SERVICE

N.

for

..... 23rd June

Africa & Ёдгоро 0th Apr N. Africs & Europe 8th May. N. Africa & Europe 14th May

4

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

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Three Lines)

MAERSK LINE

for the first time since 1877. ~Mozt”of China's exports went" to Russin,

Exports were 52.23 per cent

in 1950, the Rallio said.

China's chler imports last

Role In Improving

UK's

4

Gold

Reserves

(FROM OUR OWN CORRESPONDENT)

London, April 7. Colonial territories contributed more than the rest of the Sterling area put together towards the improvement in our gold and imperis 47.77 per cent of and dollar position last year. They earned no less than the total value of foreign trade $438,000,000 out of the total surplus of $805,000,000.

This trend was apparently continued in the first quarter of 1951, when the year included installations and central gold and dollar reserves of the Sterling area rose by $458,000,000 to $3,758," raw materials for industry (78000,000. The rise in reserves in the January-March quarter was $86,000,000 lesa

of total imports). per cent

The Radio

than the surplus for the last quarter of 1950, but this is accounted for mainly by a pointed out that China

which proviously im-

reduction of the Marshall Aid receipts of the United Kingdom, and by the fact that pored rice, was now able to

the inflow of "hot money" which accompanied rumours of revaluation last autumn export-that--commodity--

Her main

~was withdrawn or used for trade payments, exporis in 1950 were soya baxin, lea, eggs, hog

bristles, tung oil, peanuts, handicraft products and mineral

Gres.

Nearly a quarter of China's total foreign trade last year was

COM-

with the Soviet Union, pared with 7.76 percent in 1049 and 0.35 per cent in 1930, the

Radio said.

Since ERP, receipts for allotments made before Marshall Aid was suspended amounted to $47,000,000 less than receipts from this source in the previous quarter, and "hot money" was withdrawn to the extent of $100,000,000, it is obvious that the sale of Sterling area commodities, particularly those produced in the Colonies, carned more dollars in the first three months of this year than they did in the last quarter of 1950.

It added that machinery and

An analysis of the net equipment. The "gap" must industrial equipment Imported from Russia

the gold and dollar earnings of therefore be filled with consumer wrig on

goods--textiles, clothing, etc.- 20 par cont average

area during and this will of course, be re- cheaper the Sterling than Dose from "capitalist 1950 shows that the United nected in the home market in a countries.

China had signed five irade Kingdom had a deficit of shortage of these goods. agreements with Poland, $310,000,000 with the dol-

The Survey calculates that if NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via Czechoslovakin, North

Korea, lar area, while the rest of these alms are achieved, the SAN FRANCISCO, LOS ANGELES and PANAMA,

Hungary and Eastern Germany, the Sterling area had a eur- extra burden of reximament the Radlo said.-Reuter,

a cut in plus of payments with the can be borne with

personal consumption of no more dollar area of $507,000,000, than £80,000,000, or about £1 and contributed a further per head of population on the

FAST FORTNIGHTLY SERVICE TO:

NEXT SAILINGS

MS. "TREIN MAERSK"

M.S. "PETER MAERSK" M.S. "LEXA MAERSK"

M.S. "LEXA MAERSK"

M.S. "SALLY MAERSK"

ARRIVALS.FROM U.S.A.

M.S. "CORONA"

Apr. 19 Apr. 30 May 15

Apr. 29 May 8 May 19

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

PENINSULAR

AQUIS

Tel. Nos. 26661-3.

& ORIENTAL

SEPARABIT

STEAM NAVIGATION COMPANY

R. M. S. "CORFU "

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY, the 13TH APRIL at NOON for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said,

EMBARKATION: Will take place on FRIDAY the 13TH APRIL between 9.80 a.m. and 11 a.m.

Sharp Break 3281,000,000 in gold to the basis of present taxation.

In Karachi

Cotton

Sterling area pool.

No details of the earnings of individual colonies are available, but it is clear that Malaya, which was

Out for singled

But this does not mean that

year.

extra taxes will not be necessary. savings will have to be some It is estimated that personal £110,000,000 larger than last Price special praise when Mr Gaitskell me The Survey frankly

admits, however, announced these figures to the savings will be greatly reduced that public House of Commons, made the

from they the increase in defence ex- biggest contribution

panditure unless Makes are sale of rubber and tin,

raised

It is probable, then, that Mr Gaskell will freed

to

ralse something over £150,000,000 by now taxes in the coming financial year if undue inflation is to be

HONGKONG

SHARE MARKET

Business totalling $95,757 was put through during this morn- ing's session on the Stock Ex- change. Transactions and noon prices were as follows: SHARES BUYERS BELLERS SALES

К Валк .. 1310

INSURANCES

BANKS

Union

SHIPPING

Asta New.

ROYAL

INTEROCEAN.

SINGAPORE JAVA

PORT and MACASSAR ·

"TJIWANGI” “TJMODAS”

VAN HEUT82” –

"THITJALENGKA”

ARRIVALS

In Port 11th Apr.

12th Apr.

27th Apr,

only to Singapore, Penang & D. Dell.

MANILA, EAST &

SOUTH AFRICA and

SOUTH AMERICA

"STRAAT SOENDA” "TEGELBERG" ***TJIMENTENG"

JAPAN

*TEGELBENG" "TJBŪDAS"

"TJIMENTENG"

† via Manila.

....In .In

Port 8th May

LINES

SAILINGS

0th Apr.

10th Apr.

1st May

SAILINGS

ARRIVALS

Fort

10th Apr. 13th May

ARRIVALS

SAILINGS

11th May

10th Apr.

13th Apr.

11th May

Agents: HOLLAND EAST ASIA LINE

EUROPE vía MANILA

and MALAYA

"ALMKERK” "LANGLEESCOT

"ARENDSKERK”

Issued

ARRIVALS

15th Apr.

· 18th Moy

to

Through BE/L Mediterranean and Northern European Ports,

ARRIVALS

SAILINGS

18th Apr, Mid. May

Mld. June

10 a 1303 10 1470

JAPAN

730

10€

500

Fe

"ALMKERK” † "LANGLEESCOT" + "ARENDSKERE” †

17th Apr.

Mid, May

Mid. Jang

SAILINGS

18th Apr. 24th May

DOCKS, ETC.

N. Pt. Whart

5.10

+ via Manila,

S'hal Dock 2.00

1000

3

LAND, ETC.

HK Hotel

5.40 1.00 200 0 8.00

3000

1.20 800 @ 14

HK Land S'hal Trand.. UTILITIES

Tram ... P. Tron Star Ferry C. Light

C. Light (B.) Electric.... Telephone INDUSTRIALS

Cement

Rode STORES, ETC. L. Crawford COTTONS

Ewo

Karachi, Apr. 8. A sharp

break

in cotton prices is reported here by Inative sources, with the deeling

The rise in price of Sterling ranging from 20 to 25 Rupees area commodities in the second por 80 pounds the Last

two half of last year is reflected in weeks.

the steep rise in our gold and The sudden reversal is attri- dollar surplus between July and buted to the total absence of December. The total not gold avoided. This should come as export demand from foreign and dollar surplus of the Sterling no great shock to the population, Ceylon buyers. Exchange difficulties area stood at $220,000,000 at the which has prepared itself are keeping Japan out of the end of July, but by the end of the worse. marleet. rising prices have the year it had risen to $805,-

and discouraged buyers in neigh- 000,000.

ring India. France. has been raw cotton from Turkey at more favourable prices than In Pakistan.

Karachi markets are also re- acting to forecasts of a new crop of 10,000,000 balck in the U.S.

The

bullish outinok of a month ago has ended in Kara-

who withheld

chl, and those their stocks are facing difficult times. Associated Press.

Inflation Spiral Halted

.

for

Corresponding figures camnings of dependent overseas territories were $174,000,000 and $438,000,000.

for

STOCK EXCHANGE

The Stock Exchange is had planty to chew on this week. Revenue figures at the end of the financial year showed that the overall marplus was no lose than £247,000,000, and talls naised hopes that the Budget Mr Galiskell said the United might not be so harsh as some Kingdom self-appeared to have people expected. Any hopes

U. K DEFICIT

remained in defelt with the invat quarter of 1951. The substanilal Mr dollar arca

gold and dollar surplus in

wäre, thus red were

quanter was mainly do that Secretary to the

-that the

112

600 @ 10%

11

24

2.00

Increase In Duties

un

The

Washington, Apr. B. The Agriculture Department reported today that Ceylon has increased ita export duties some cocoonut products, duty per long ton of copra has been increased from 300 to 400 coconut poonae has been rupees, The export duty creased from 100 to 200 rupees per long_ton.

on

that

during ite first que

quickly dampened, however, by The Department sald, "The Douging Jay, Financial current trend indicates

who palm oll output In 1950 will Got re- waar

rise to a new record level. of high dollar carnings by countries gretted the recent tendency on possibly 103,000 tons." Congo in the rest of the Sterling area, the art of some companies to exports of He reminded the

palm oil in 1950 House that increase their dividend pay totalled 143,443 tons, An in- these earnings by the rest of ments. This, in turn, gave rise crease of 7 per cent over-1040 the Sterling area have no doubt to fears that the Budget might and nearly double the pre-war clso been reflected is the in- contain some bad news for iri-

average.--United Press. crease in our Sterling labilitles | vestors.

Still Producing The Goods

Shortages might be ahead on: some goods, Economic Mobilisa- tion Director Wilson this week warned they were in the offing. -Associated Press.

to those countries. Theso The Economic Survey was not liabilities amounted to £3,757,- exactly a tonic for the Stock 000,000 at the end of 1950. Exchange, but it is probable that most investors had come to much There has been surprisingly the same conclusions themselves. New York, Apr. 7. ALL passengers baggage must be

It became pretty clear this little criticism of the Economic

The news next day that our sent to the Hongkong & Kowloon week that the inflationary Survey for 1951 which was gold and dollar

reserves had Wharf Co.'s Godown at NO. 2 GATE, spiral of prices had been halted published by the Goverment continued to mount during the

New York, Apr. 8. CANTON ROAD

this week. ENTRANCE by at least temporarily and trade

This is not to say first quarter of 1951 did nothing Signposts by the dozen in- NOON on

circles watched THURSDAY the 12TH

anxiously for that there was no criticism at all, so affect the gloomy tone of the dicated this week that business any signs that a major decline but comment had been mainly Survey, and one observer re- and industry were meeting de- APRIL.

might be in prospect.

confined to re emphasising marked that the

of tho House was manda

defence em dimculties Most analysts felt that inter-

in the way of now more concerned with the Bency, and the needs of civilians SPECIAL NOTE: With the exception of hand packages national developments precluded achieving, in the face of ruw United Kingdom's balance of without missing a step.

carried by passengers themselves, decline.

the

material possibility of any sizable

shortages, extra pro-payments them with the dollar duction, on ALL BAGGAGE must pass through

which the whole carnings of the Sterling area as In viewing the situation, the argument of the Survey depends. a whole. the Wharf Co.'s Godown for loading Wall Street Journal of Com-

But the Survey itself does not on board by ship'a slings only.

merce summed it up this way, overlook these difeuities. On

FAVOURITE HEDGE "The steam has certainly been the contrary, it says with com-

The result of all this was a sentiment by the recent declines prospects are in many ways in Gilt-edged. But Industrials taken out of the inflationary piete candour that our éccomic reversal of that week's advance Aid For Indonésia in the sensitive commodity harsh, and unpleasant ቃ Ha stood up well, and the Flamelal prices and by a rather sudden authore admit they have had Times Equity rea'isation that Inventories are more dificulty than in previous by one and

Index advanced

Bombay, Apr. 0. Sir Mirza Ismail, former excessive.

a. bait points. Prime Minister of the State of years in forecasting, what lies Equities still seem to be the "This is no time, however, to ahoad.

Hyderabad, tonight left here by hedge agadnet Lavourite assume that inflation is a dead

Inflation that most investors now his post

Wair for Lake Success to take up issue. If there were no huge The main conclusion

of the on

consider inevitable. | One reason

as United Notions and

expanding defence

in pro-Survey is that the extra burden for the strength of Industrial representative Indonesia. gramme In the plcture and if placed on the economy will have shares was the lack of sollers. |Sixty-eight-year-old Sir Mirza, there were no International to be borne by consumers.

The main feature of situation that might turn de

IMPORT

Nations programme technical eldedly worse almost overnight,

chares the result of a crop of aid to the Indonesian Republic. there would be

little doubt that We will need more imports good divkiad natoouncements.-Reuter. Stock Exchange

were soored the fuse advance Week facturing and distribution chan-pasticularly of now materials, demand. The rear moderate Now York, Apr. 7. weeks. Cotton futuros

Grains, however, were nel coupled with suffered the not sharp, but still the largest oss of public buying £700,000,000 on account of price

a sudden Our import costs will rise by developed an Irregalar trend. sharpest reaction of the year for a single wock since the proving the general commodity imot bill for 1031 may be us

would constitute a

a basis for im- Increases alone, and the total this week, undergoing losses up readjustment phate, bogan a price decline of major propor- tigh as £3,200,000,000, compared to $3.50 per bale before regain moot two months ago. ing a measure of stability.

tions. These two Ife are too with rather over £2,350,000,000 A considerable number of big to be ignored, however, even last At Friday's cooc, the list ruled investors continued in the side though currently they may To meet this enormous import unchanged to 110 points lower, pending developments in beem to be hidden or buried bill we will have to do without the foreign altuation-par- under the stack of inventories." the overall surplus of £220,000- than the

Now, York, Apr. 7. Previous week. ticularly Favourable

Korea.

Thoy crop nows, along centreti

also United Press,

The Colken gry goods market which with continued slow constimer Washington. Considerable con-

their attention

our man showed, more stability, this week oconomic achievement last year, demand for drygoods and

and affi Instead for a balance as the pressure of re-salca abbied the fusion at probent exists in Wall development of labour troubles Street as to the next tax move in a large number of Southera by the Administration.

In our overseas payments. This en light weight apparel fabrics

cotton mills, were upsetting in

Cotton Has

Sharpest Setback

Wall Street's Advance

New York, Apr. 7.

Pirious on the

New York

on

000,

your.

MILL

EKINCSEBUILDİNGSITEDIDONESTORTZTOSARGE

BENN LINE

TEL

FAST SERVICE TO UNITED KINGDOM AND CONTINENT

BY.

S.S. "BENALDER"

LOADING HONGKONG 11th APRIL

FOR

LIVERPOOL, GLASGOW, DUBLIN, ANTWERP VIA

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

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

York Building.

Tel. 84165 & 88710.

S.S. "LAURE PATTISON"

Direct for

PUSAN

LOADING THE 11th APRIL

SAILING THE 13th APRIL

For Freight. and Particulare, please

apply to

weaks must go that there in of shoes Not one in charts for United PATTISON ORIENT LINE, LTD.

GREY

GOODS STABILITY

Malayan Rubber does not include the 1100,000,- following the strike among

Price Drops

Singapore, Apr. 1.

000 which is apparently to be Southern mill workers. wildrawn from monetary The Govestrament preshing reserves to ba

to pay for stockpiling. There will be a further in that some form of fationis for raw tomay be decessity crease in our invisible commings, unless a bumper crop is hár- which should nisa to something vested this

aentiment, buat

fluencca. May contract went Foroonatis in businices elreles below the celling price of 45,39 revealed that rails, which show- conte a pound, falling 50 points, ed poor resuly in February, but it subsequently recovered will do much better for March,

--"The price of Ma'ayan rubber {ijke £450,000,000. The rest wDE | saduance rever, also acted to of the low on aggressive April, May and June. Raid mill and exporter buying... sparked the advance this week to Straita $2.12.

has dropped oight centé pound bave to be met by increase in overall activity remained on They touched off the rally on Meanwhile, the New York Wednesday, which carried to

The dip was believed to re-brica and expansion of volume quiet do. Buyer and sellors Colton Exchango announced the other departments. Gains

flect announcement that the of our exports, by authen

were fererally reluctant to suspension of trading on all mile, widened on the wook.

Malayan Government would, EXPANSION OF EXFORTS

200 for alther WAY. until Saturdays during the period of

after tomorrow, restrict all ex daylight eaving

Next to malls, all equities ports to countries other than mencing May through Sept. performed well. They sale Britain and the Sterling area volume of

the fored padow of more than a Dominions, the US and other of maintaing

1. The Cally opening

30, will be daleysi kimi an host more windin 00:1020, A.M. tutduar to fepta a la fuwan nimes

Arnog

The dimeine

net prices vadyanced tj. to coraider shares 6T55015, per: picul from Thirai sod

move

unsongnably cool

Exchange Rates

Buations was done in the local

urb oficial . ' exctiange

market morning at- the following ratosi Sterling pote (per 2)

UB. dollars (per $1) Indonesia guliders (per 100)

Slam tepla (per 100)

Klingspore, (B)(and to)

FIC plastrée (per 100)

16,50

0.03

28.00 1.775

13.00

12-14 Queen's Road C., 4th Floor. Tel. 25846

or Chinese Agents:

OVERSEA CHINESE STEAMSHIP COMPANY, LTD.

48 Bonham Strand West, 1st Floor.

Tels. 20127 & 91119.

Pacific Far East Line, Inc.

Fait Regular Trans-Pacific Service

DIRECT

SAN FRANCISCO, LOS ANGELEI

“GEORGE, LUCKENDÁCII” "EDGAR "LÜCKENDA CE”

LUCKINDA CIT

ÖVERLAND ¡psi NEW YORK-CHICAGO. DETROIT-TORONTO. MONTREAL AND ALL AMERICAN & CANADIAN. CITIES

Manilk

San Francisco

Birato Barancio

Attiyan

Apr. 10

For

- Nagoya de Tokobama

May

Ban" Syloclico