1951-04-23 — Page 9

THE CHINA MAIL, MONDAY, APRIL 23, 1951.

MESSAGERIES MARITIMES Japan's Exports Torquay

|| MOM

ARRIVALS

LES GLIERES“

from Europe

SAILINGS

PASSENGER/FREIGHT SERVICE

"LA MARSEILLAISE"... to Japan via Manila

"LA MARSEILLAISE”

"FELIX ROUSSEL"

"CDT DORISE"

"DREST"

"SAINT VALERY"

1st May

Cik May to Marseilles via Manila 10th May 23rd June to Marseilles

FREIGHT SERVICE

..N. Africa & Europe 8th May ..N. Africa & Europe 14th May ..N. Africa & Europe 23rd May for

FORT SAID, TUNIS, MARSEILLES, ALGIERS, Oran, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S.

"PETER MAERSK"

M.S.

"LEXA MAERSK”

M.S. "SALLY MAERSK"

ARRIVALS FROM U.S.A.

To Sterling Area

Tokyo, Apr, 22.

Japanese traders repor. ted today pouring exporta of cement to the sterling area, filling in the rap resulting from reduced ex- porta from Germany and Britain

From a record post-war outpat of 4,990,000 tons, Japan sent abroad £90,000 tons, including 97,000 tons to Singapore and 20,000 tons to Australia, which is

ocment boying Japanese

for the first time since the WAP.

This was only ong symp. ..tom of Japan's rapidly im- proving coonemle position. Exporters of textile ma- chinery reported a buoyant market, with contracts doubled as compared with Last year-Beuter.

Defence Programme Hitting U.S. Industry

New York, Apr. 22. The first real impacts of the defence programme hit business and industry this week.

Apr. 90 May 15 May 31

to

Torquay Conference Has Achieved Some Noteworthy Results

Bilateral Tariff Treaties

FROM OUR OWN CORRESPONDENT) =

London, Apr. 22.

The international conference on tariffs and trade, which held its final meeting at Torquay yesterday, has not been an outstanding success. It has, however, achieved some noteworthy results.

Nearly 150 separate bilateral negotiations have been completed. These included 21 each by the Federal German Republic and Austria, which were among the seven countries acceding to the general agreement. on tariffs and trade (GATT).

In addition, the assured life of tariff conces-

sions resulting from previous conferences has HONGKONG

been extended for a further three years.

now

tariffs Now

agreements on between the original contruct ing parties were disappointing ly few. This disappointment is most keenly felt in the failure to complete any

ne United ments between

the one hand, and States

tes, on the United Kingdom and the Dominions of Australia, Zealand and South Africa, the other.

New

on

FEARS OUTWEIGHED

SHARE MARKET

Transactions on the Hongkong Stock Exchange this, morning toiniled $207,174.95. Noom clos- ing prices- SHARES BUYERS SELLERS SALE: BANKS

IK Bank.. 135.

East Astar 103

60 a 1300

@ 1300

Canton

270

Unfor

740

10 A 740

745

STOPPING

Asia Nav...

Most investors seem to believe has under- that Mr Gafiskell

size of the in- estimated the flationary "gap" that has to be covered this year, and they have also been encouraged by the realisation that the Government itself expects a substantial rise in profits this year.

First reaction

to the Budget was relief that no steps had been to limit

company proposed Reason for this failure was dividend payments. Since then apparently the refusal on the the new

new instructions given by Mr part of the United Kingdom Gaitskeli to the Capital Issues and other Commonwealth Committee seem to suggest that he is prepared to countenance a to meet American countries it Many economists believed would be summer before the full demands for reductions in Im-"modest" increase in dividends INSURANCES

this year and this has also been Preference

margins.

a factor in the general rise in effects are felt. But high inven- perial

pre- tories, conversions from civilian America, It seems, was

share prices. In a long way military goods and Govern- pared to go

tariff reductions to ent restrictions were becoming offering

their their aim but achieve painful. increasingly

Mr Gaitsfooll's proposal to Industrial

how-affers were far more numerous production,

discontinue initial allowances ever, moved along at a fast pace, than useful.

Hefly

doubtful. however, next year has been severely cri- Defence orders rolled in.

were planned. First whether the British delegation ticised as a measure which can expansions quarter earnings were setting would have considered any offer only result in a slowing down of

industrial expansion with sufficiently attractive to justify indus in records

industries,

bad effect many

on the The seel industry was operat-uny serious breach in the Im- especially

Industry. But this has nce, front. ing at 100.9 per cent of theoreti-perial Preference.

The Colonial territories were not prevented a considerable rise

in the shares

of shipping and represented by British Board shipbuilding companies. Fear of For Freights and Further Particulars please apply to:cal capacity. This exceeded the

previous week's figure,

General Electric, which spent Trade negotiators, and The

Initial Economist

what na

when may happen questions on new plants US$425,000,000

allowances

abolished arc and equipment in the past five their interests were well looked outweighed by a more immediate years, will spend more than after.

the form of consideration-in "It concedes that the British $350,000,000 in the next four

dividend announcements Imperial higher expansion delegation defended Minnesota Tel. Nos. 26661-3.

Mining and Manu-Preferences with ferocity but by the F. and O. and Cunard, facturing Company outlined a wonders whether West Africa, two of the largest companies in

the shipping world. dependent US$0,500,000 plant expansion. Malaya and other

were further advances in- are not more The Bureau of Employment territories

mmodity rinares but rubbers į Security said 50,000 unfilled terested in importing whether in

received 1 setback on the Jos were jamming State Em-from the United Kingdom or the

or the American

announcement

that United States capital ployment Offer rolls but Indus-

of rubber stockpiling tries where civilian output pre-consumer goods they need than the end

were beginning to in retaining the existing margins was in sight.

Now paper shares were again feel the pinch. Shortages of of preference they enjoy in the copper and steel items forced Commonwealth and in building Kalser Frazer to halve its nu-up impressive Sterling balances tomobile production, eliminate in London. second shifts and lay off about 3,000 workers.

M.S. "SALLY MAERSK"

M.S. "CORONA"

M.S. "ANNA MAERSK”

AGENTS:

May 8

May 19 May 30

JEBSEN & CO.

Pedder Building

New Delhi Fixes Cotton Production Target For Year

ties.

The announcement referred to j

a two-day meeting here between the National Planning Commis- sion and members of the official- ly sponsored Development

discus

mittee. The detonthe crux

the supply of

of India's textile Industry

problem-and

facts other uts relat-

ing to the formulation of a five-

New Delhi, Apr. 22.

years

on

dominated

further

-

BITTER BLOW

whether

Stromberg Carlin Company It is true that huge Sterling idled 200 employees because of balances are being bullt up by lagging demand for television these Colonies from the outskie receivers. Other workers were world, shifted to its busy telephone and apertion, that if this trend con

The

but "The Economist's"

for

on more than 200 civilian pro- agree that the Congested

Situation

year development plan for the In Cotton

Industry. Officials of the Com- merce and

and Industry and Agricul

Ministers attended" the

ture meeting.

.

cotton

Cutures

market

The

increase,

trade.

blow.

a much

A further difficulty the

in demand on rumours that in- creasing production costs would soon result in a rise in price of the penny papers.

Marking Time In Textile Markets

com-

1.05

-1000 @ 1

2000 @ 1.053

DOCKS, ETC.

N. Pt. Whart Wheelock... 233%

LAND, ETC.

HK Hotel KH Land Shai Land ..

UTILITIES,

Tram

.

6.10

100 231

5.00 40

41

1.25 1000 1.15

12.10

7174

Star. Perry 2. C. Iaht (0) 0.20

C Lat (N) 15

C Light (13.) 5.8G

Elctric Telephone 10 Tel. (New), 020

INDUSTRIALS

24

eceset

333888

Cement..... 3035 2134 000 10% STORES, ETC.

Dalry. XD .... 0914 Watson ... Wing On

COTTONS

Ewo

1200 @ 101%

375 1000 8 ม

2.00

MERSEY BACK TO NORMAL

Liverpool, Apr. 22.

Meracy Shipyards along the River will be back to normal; tomorrow after a three-months". long dispute which cut output.

R.I.L.

ROYAL

INTEROCEAN. LINES

SINGAPORE JAVA

PORT and MACASSAR

"TIITJALENGKA" ("TASMAN"

"TJIWANGI" "VAN HEUTSZ"

MANILA, FAST & SOUTH AFRICA and SOUTH AMERICA "TEGELBERG" **TJIMENTENG" "ТЛКАМТЕК" *BUYS"

⚫ JAPAN

"TASMAN"

"TEGELBERG?” TJIKAMTEF”

"RUYS"

"VAN HEUTSZ"

ARRIVALS

.20th Apr. 3rd May .11th May 21st May

ARRIVALS

8th May .17th May .14th May

ARRIVALS

11th May

,30th May

SAILINGS

1st May

17th May

SAILINGS.

18th May

Early July

SAILINGS

8th May

10th May. 10th May

£2nd May

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

ARRIVALS

"TANGLEEBCOT" ........In Fort

"ARENDSKERK"

to

Through Ps/L fasteă Mediterranean and Northern European Ports.

JAPAN

"LANGLEESCOT" + "ARENDSKERK” ↑

+ via Manila,

... 18th May

ARRIVALS

14th May

.Mid. Jung

SAILINGS 16th May Mid. June

SAILINGS

28th Apr.

24th May

NINCESSBUDDINGSTEIERTONES: FERIÖTŐ SZRITEN

M.V. "LA MARSEILLAISE"

12 days roundtrip

To Manila and Japan

Sailing from Hongkong

Sunday 6th May, 11 p.m.

Back in Hongkong

Friday 18th May, 6 p.m.

Cie Des Messageries Maritimes

Queen's Building

PRESS PHOTOGRAPHS

Five thousand ship repair workers along the river banned

work all overtime

Jan. 29

Copies of photographs because a wage award did not beneilt men nlready earning taken by the South China more than the new minimum

ban and to

ORDERS BOOKED

Tel: 28651 (8' lines).

ESSENTIAL

SUPPLIES CERTIFICATES.

Application

10 CENTS EACH,

India's cotton production target for 1951-62 has been fixed at 4,000,000 bales, it was officially announced.

Requirements of Indian mills for the year-were-sound equipment departments, tinues "the Government will Some small cotton and rayon have earned the reputation of estimated at 4,300,000 bales 3,700,000 bales of

to bo were reported

rediscovering the

not

Empire Indian cotton and 600,000 bales of imported varie-milla

starting to

the will anal capacity to curtall production but

be and return to a five-day week. live its back," may

Live on dimeuls to justify.

One won- HCL UP

ders.

whether

Forms For instance, aluminium order WD3 changed to lift the May 1 ban the people of the Colonies would

New York, Apr. 22. ability to

buy

Pricing uncertainties,

Morning Post, South China Essential Supplies Certifi- ducts. Now it is a 50 per cent more capital and consumer goods bined with large distributors rates. cut in the use of the metal from the dollar area is preferable inventories and slow consumer

Post-Horald, and The dispute spread until Sunday

cates may be obtained from to a system which safeguards during May and June.

demand, continued to cripple 25,000 workers in the North China Mail Staff Photo- Government's

Interests over latest their

activity in the basic textile West of England were operat

South China Moming Fort cost of living index-the one longer period than that likely markets this week.

ing the ban and production was graphers are on view in the for March 15-was not ready to be covered by the present of world

Limited. for official announcement dur-abnormal conditions

The Worib Street cotton goods seriously affected.

Morning. Post Building. ing the week.

trade did little more than mark

Today the Merseyside men But it was reported to have The announcement early in time. Mill executives saw little New York, Apr. 22.

up enough over Sept. 15 the Torquay Conference that the chance of a revival of Interest voted to end the Rone Strength in old crop de- levels to give

70,000 CIO United States would not ratify until the long awaited price reopen negotiations with the liveries was overshadowed Electrical Workers at General the charter of the International celling regulations for cloth and employers--Reuter, The meeting suggested that owing to the influence of the Electric planta Д nine-cent Trade Organisation was a batter

apparel materialise, out of the Indian production of 4,000,000 bales, 3,700,000 bales

The wool trade was kept on this hourly wagen Price Direc-Conference had to contend with! weok: Current May delivery In Washington

by the wiki price be made available for spinning remained wedged tight at 45.39 tor Michael Disalle said the was the fact that most of the edge by Indian mills with the can'ts, the celling price,

with nation may be reaching a peak countries which took part and fluctuations in the futures mar-

the best part kets. remainder for export and other traders reporting a congested in the rising cost of living. He already used up

Wool tops slumped as podian mills-600,000 bales notle by

notice day оп Apr. 25. The levelling off,-Associated Press. previous conferences and were rallied haltingly as the work would be imported.

spill-over of unsatisfied buying

not in a position to reduce their closed. Traders and manufac This year's cloth production

torit ព

ris much further.

turers are striving to gain price Moreover

no thi official protection through hedging was expected to be 5,000,000,000 orders from the spot month into yartis-3,809,000,000-yards mil July lifted that position to near

United Nations

announcement futures against cloth ceiling limit and to made and 1,200,000,000 yards highest level since late March.

points out, with the steady in- torice. At Friday's

of trade close, the list

crease in the volume

Some of the smaller woollen NEW MILLS

which has been liberalised from woulded 89 points higher to 50

New York, Apr. 22, the

during

1930 mille reported curtailing pro- Export for

quoas points lower or up $4.45 to

Volume of retail spending particularly yards-down $2,50 a total

in Europe tariffs duction or closing down because 900,000,000

tale, compared 600,000,000 yartis of inc

to their traditional of uncertainties, generated by and with the previous week. Octo- turned upward in the week or Whats for protection { pricing problems,-United Press. superfine and 200,000,000 yards ber 1952 delivery came on the ending on Wednesday for the role as inst

first time since before Easter, for of cloth for the country which board for the first time during Dun and Bradstreet sald. While gri

and domestic industries

speak- worked out a per capla con- the week. It started about 109 Dua allar sales also acceded culture. Gene

Generally under the

ing, it says, Cho

the significance of of 11.7 yards which pointe

preceding tota meeting considered in July delivery, but-inter-widen los comparable week a year tariffs as instruments of national

ed to ar

ago by a considerable margin, to around 200 points.

toonomic adequate. It

policy is increasing, Was recognised,

New crop 1951-52

noticeable were less however, that the country necta

-52 deliveries unit sales

and the dimculties encountered above the 1950 level.

in lowering rutes of duties aro moderate

Vigorous promotions by ap- clearer view of the crop out-

**to be helping. weather delayed

Boll

handloom.

cumption

The balance required situation there prior to the first believes prices definitely are of the

their bargaining power at much as 70 cents a pound, then

the year

socsarwed

over

the

U.S. BUYING

MORE

total

the foreign exchange earned by mlt. Traders there, waited for jparel merchants were reported Pably greater today loan ati

cloth exports in order to pay

for cotton imports.

a

Look

The

A review of the post-war y Planning Committon's cherno rainy

fog

the development

arty

time since the end of the

recent cold and Total retail dollar volume Detalia

bextile industry went to show South-West, but traders felt Associated Press. that 24 new mills with a total that all of the lost

time can

of the negotiations can be of the preparations, growth and need-Wan estimated at 13 to 17 per completed et Torquay

of the cent above the 1851 week which released Ing over a wide area

by the governments followed the Easter holiday-concerned on May D, and three days later the schedule of the tarif concessions as a whole and the text of the Torquay Protocol will be published in Geneva.

BOOM IN SITAREA The post-Budget Hooin`in the

spindlago of 200,000 had been 1111 anfoly be maito opened since 1945. Machinery Untied Pres

for 19 other mills with a total spindlage of 104,000 was in the process of being installati

Uncertain prospects of the in dustry, owing to cotton shortage and: high-prices of machinery wore the reasons given, for the alow pace of implementation of the scheme.United Press,

Exchange Rates

- Mundnams “WAN

་

Rubber

up.

Futures

Russo - Swedish Trade Pact

In Singapore.

Drastic 'Action On Newsprint

inven-

Ottawa, Apr. 22. With the world clamouring for her newsprint, Canada, haa takery an initial step to preparo for ambre bulamood" Inter national distribution of her huge productión. –

newsprint and

Stockholm, Apr. 22. Block Exchange gathered pace | In a nove unprecedented in Sweden and Boviet Russia this week. The Financial Times' peacetime. Singapore, Apr, 21. have made a trade agreement Industrial ordinary shares Index; mechanical and chemical pulps Prices of rubbar futures for thin your calling · for ex has risen no less than 2.2 points were declared essential materials, closed here today as follows:-

chiengoa valued at 40 million since the Budget and now atends The Defence Production De Number & rubber,

employed crowns du both directions the at its highicet level for almost partment 150-16-100-Swedish

per Ib. April **** May

Number 1 rubber,

Arri done in the Jocal Number rubber.

LipofTeta exchango market

morning, at -kha Kollowing «ARLEND

pitelizzanots (pir, £1) * 14,99)

Number 4 rubi

Indonesia rullden (per 100) (lekaru Sunbsled Bluray Lionis {{par:100)

106-187

104-10

102-108

Soviet Tubma Sweden -- maize,”

will

FLIGHTS TWICE WEEKLY!!

TOAS

A NORTH & SOUTH

SINGAPORE BANGKOK✩HONGKONG TAIPEH TOKYO CALL 58865 PENINSULA HOTEL KOWLOON

Pacific Far East Line, Inc.

DIRECT SAN FRANCISCO, /LOS ANGELES

Fast Regular Trans-Pacific Servica.

OVERLAND

NEW YOUNE-CHICAGO DETROIT-TOKONTO MONTREAL AND ALL AMERICAN à CANADIAN CITIES

Vasel

to

“EDGAR LUCKENBACH” *J, L ́ LUCKENDACTI

том

Barrancisco

Arrives

May 4.

MAY

Birutte

May

May

- "ILIAMMA” KA

"MATHEW LUCKENBACH”

San Francisco

BUN LUCKENBACK"

Foreign Offico an- zout yours, jedan nama being them under deveryment. nounced today.

Tuo acramble for industrial control, send oquitica has been accompanied

MFRM Fowler, President ositio, by a during decline in sile

and odgod prices rolling in n of the Canadien Pity and Paper narrowing of the dimerential Associations wus Camry Dincas between the bʻieldy on Comour toe of or newly formed. Depet and whisk in better plass. In's mental branch which will have

manganese orn 2. Kimbotte and ferrous:

Bweden

·For

Singapore, Djakarta, Dombey

Karachtg

San Francisco' via Kobe,

Nagoya Yokohama

-vis Koba, Nagoya de Yok