1951-05-02 — Page 9

Page

RIL

ROYAL

INTEROCEAN.

SINGAPORE JAVA

PORT and

MACASSAR

**EJTJALENGKA"

"TASMAN"

"TJIWANGI"

"VAN HEUTBZ”

MANILA, EAST & SOUTH AFRICA and

SOUTH AMERICĄ.

"TEGELBERG" #TJIMENTENG"

"TJIKAMPER”

"RUYS"

JAPAN

*TASMAN"

"TEGELBERU"

"TJIKAMPER"

"RUYS"

"VAN HEUT6Z"

ARRIVALS

In Port

5th May

.13th May

.201h May

ARRIVALS

11th May

19th May

15th May

ARRIVALS

Late May

15th May

.Early July

LINES

SAILINGS

3rd May

late May

17th Aisy

SAILINGS

17th May

Early July

THE CHINA MAIL, WEDNESDAY, MAY 2, 1951.

Stocks At New 20-Year High

In

New York, May, 1," Industrial Blocks spurted to the highest ground 20 year today. Rally continued to move within a narrow rango.

There is nothing in the nawe to account for the sharn spawing by indux- trials in the afternoon. United PreRK.

Sterling

Japanese Industrial Machine Reviving:

Output Jumps Ahead

WORLD'S BIGGEST CURRENT

(By RICHARD HUGHES)

BOOM

Tokyo, May 1.

In the world's biggest current boom, war and the threat of war are

Area And completely rebuilding the giant Japanese industrial machine which pro-

Japan

SAILINGS TALKS ON A NEW

9th May

21st May

Mid Juno

21st May

AGREEMENT

a new

London, May 1. Talks on

pay. ments agreement between

Зарап will be resumed shortly in Tokyo, it was learned in London today.

Agents: HOLLAND EAST ASIA LINE the Sterling Area and

•

EUROPE via MANILA

and MALAYA

"LANGLEESCOT"

"ARENDSKERK”

Not calling

at Monija

Through B/L Listed to

Mediterranean and Northern

European Ports,

JAPAN

"LANGLEESCOT”

"ARENDSKERK"

ARRIVALS

18th May

SAILINGS

20th May Mid, June

ARRIVALS

Mid. June

+ via Manila.

........ 18th May

SAILINGS

24th Mayt

Less Working Time

In

Lost In UK Labour Disputes

London, May 1.

The number of workers involved in industrial disputes in Britain last year was the lowest for 10 years, it has just been revealed.

Altogether, 302,000 men and women lost a total of 1,380,000 working days, which is equiva lent to a loss of just over four days per person, These 302,000 represent, moreover, only one per cent of Britain's tolal labour force of more than 23 million,

time

wha of

ECA Funds

Dispute Settled

More 'than twice as many people lost working through. disputes in 1947, while the average for 1948/0 424,000. In 1940, 'Battle

Washington, May 1, The Economic Britain Yeor, the number was

Co-operation Administration 299,000.

(ECA) today announced that its talks with Comparison of the four main | the Belgian Mission on the periods since the end of the first freezing of Greek Marchall Aid world

the war,

twentles, funds In Belgium had succeeded, Marshall Aid to Belgium was 'thirties and war and post-war

number yours, shows that the

suspended

on April 9 following of people involved in labour a Belgian Court order freezing disputes fell from а

high Yery

over $7,000,000 worth of Greek level in the twenties to a very Marshall Aid funds. The funds low level in the thirties (from were seized to recover an annual average of 024,000 Belglan crediter money owed to 324,000 while the average in by the Greek Government since

1020. the war years rose to 504,000.

a

The ECA contended that Since then on almost

con- Marshall funds could not be tinuous downward movement used to pay a private debt. It has brought the post-war set April 30 as deadline for the average to 450,000. The January release of the funds,

of returns, which show a total

A spokesman sald here that only 24,000 (equivalent to on the

early agreement reached annual rate of well below 800,- today awaits only mal con- 000) Indiente the continuation firmation by the

Belgian Gov-

of this favourable trend intoemment, A joint announcement 1951.

UNINTERRUPTED

number of working days lost in

in

la expected here and in Brussels tomorrow, he added.

A Brussels

court yesterday upheld the freezing of the From the industrial produc- | H

meeting of tion viewpoint,

however, the funds. A further

the Brussels civil court was more important than the numcide upon the eventual release summoned for May 29 to de- ber of workers Involved, Taking of the frozen Greek funds the same four periods, the curve favour of the Belgian Company shows an uninterrupted down Soco-Belge. word movement: from an on- The United States

decision nual average of just under 33% two weeks ago in effect warned million in the twenties to op- Belgium that unless the money proximately three million in the was freed by yesterday Belgian thhties.

Marshall Ald would be cut by a similar amount-Reuter,

The___nvorage-for-the-war (1940/5) was 1,924,000

years

while in the first five post-war Grain Prices

years it stood al 1,948,000,

for

The very high' returna 1020-29 were of course influenced by the General Strike of* 1920. But even if this your lp ex- cluded the average stands at 723,000 workers and just under 10 million working days-well over twice as many and fourteen (mos ag working days lost as in 1360.

In Chicago

Chicago, May, 1, Prices of grain futures closed. here today as follows:- workers Spot

Wheat-price per bustick

2,48-34 meny May

2.40-44~15 EXT-11 2.10-218-1 2.67-931-41

7.81

July September December

Cern

May

Washington, May 1 Empat Tho National Shipping Au-Jut thority in the Commerce Do. Beptember partment announced today that December

* morn, ships have been allo-

caled for the transportation of 702 ecal and grain to Marshall Pign countries, bringing the total In

UAINA Fress,

180.14 1.81-16-14 1.31-14 207-16.

On the British side the talles will be led by Mr H. H. Thomas, Resident

British Financial Adviser in Tokyo, M J. D. Løynes, of the Bank of England, is expected to leave London within the next two days to join he mission for the talks.

By the previous financial

SCAP agreement

had the option of

of converting into dollers any Japanese sterling balance above a specified figure.

British objective in the teiks will no doubt be to get rid

of

this clause, sinco Britain notoriously dislikes convertibility

clauses.

Bilateral talks in Tokyo will be Independent of the peace treaty talks in Washington.

But

any new payments agree- ment between the Stering Area and Japan would no doubt link up with the financial and economic clauses of the peace treaty

With the approach of the treaty, the Tokyo talks will be with the Japanese authorities rather than with SCAP. Com- petence {21 many economic affairs has been handed back to the Japanese--Reuter,

Bond Issue By Israel

vided the sinews for Japan's bid for Pacific domination.

First, the Korean war and, now, the West's gathering rearmament drive are re-establishing Japan's great industrial potential which, less than six years ago, appeared to be wrecked or doomed to dismantlement after Japan's crushing defeat,

Despite the Japanese national habit of "crying poor in the honourable mouth," the evidence of the nation's dynamic resilience and industrial resur- gence-stimulated by war orders and emergency aid-is astonishing.

Recently, Japanese Gov. crnment leaders had be- fore them two private ro ports from Japanese econo- mic experts and American Occupation advisers.

The first report said Japan could increase heavy Industry production immediately by 15 per cent, and gradually to 65 per cent, under pre-peace plans to gear Japanese industry with

mounting United rearmament tirive.

the

|

HONGKONG

SHARE MARKET

Transactions on the Hongkong Slock Exchange this morning States mounted in value to $142,070, Noon prices and the morning's transactions: BANKS SHARES BUYERS SELLERS BALES

HK Bank.. 1300

The second report made it clear the United States will guarantee adequate supplies of the raw materials which Japan lacles.

INSURANCES

Canten

Uislam

of

The following estimate Japan's present annual heavy machinery production, with an, indioption In each classification of the surplus available for ex- port, has been, drawn up by the Japanese Economic Stabilisation| Boaret:

Bridge Girders: 250,000 pieces with a surplus of 50 per cent.

Large and medium-size (rucks: 40,000 units, with a surplus of 15 per cent.

Rolling stock: 10,000 cars, with a surplus of 50 per cent.

Hydro-electric

generators: Facilities for 1,000,000 kilo- watts, with a surplus 60

per cent.

of

WELL AHEAD Already, it is further reveal- ed, Japan's production figures in

heavy industry, mining, metals, machinery, chemicals, ceramics and lumber are sub- stantially ahead of the produc- tion index in 1939-55.

Since

the Korean wer, the output of special and ordinary steel, electric wire, tails The

galvanised dron has increased by 60 to 60 per cent Gas oll and kerosene production has increased 2.7 times; leather, shoes, dyes and

Now York, May 1. The first bond issue of the Slate of Israel, a $500,000,000 "Independence issue," was offer ed publicly on Tuesday. proceeds of the sole will be used io Anance one-third of a three- year economie expansion pro- gramme.

Two types of securities were offered coupon bonds bearing 32 per cent interest, maturing in- 15 years and subject to redemp- tion in

1956, and non-interest bearing savings bonds of the capital application type.

The saving bonds will mature in 12 maturky value of 180 per cent of

have the purchase price. The bonds will be non-transferable until May 1, 1954 when they may be exchanged for freely transferable bearer bonds,

1

Trael will redeem the bonds in US dollars in the event of the death of the registered owner until May 1, 1954 when coupon bonds come transferable. Thereafter, the country is obli- galed to redeem them before maturity only in Israel currency, Payment at maturity will be in US. dollars-United Preas.

Bad News

་

For

Auto Makers

Washington, May 1. The Government today ex- tended indeinitely its price freeze on passenger cara and served notice that the present restrictions dustry's sicel and rubber sup- on the Ruto in- plies will be continued.

The Office of Price Stabilisa- Ulan said that the freeze, limit- ing auto

prices to 314

per cent above December levels, will bo continued indefinitely ponding in- a thorough study of the dustry's profits.

Car makers

got more nows in the form of an order to cut rubbor supplies for ear tyres and tubes,

farm

heavy

bad

pulses by about 10 per But it cent the amount of national and synthaile rubber that will be available for truck, trailer, other equipment and

tyres as well na for hundreds

civilian other goods,

The N.P.A. said $7,000 tons of rubber - will · bo 'available for elvillan use in May compared with : 80,000 : · in April---United Prose

· London, · May

grid

SHIPPING DOCKS, ETC.

30 1300

760

10

730

10 7 147.50

Aula Nov. 150

H. Whort.. N. P. Whart Dock

Provident

LAND, ETC.

HK LA XB

Shol Land

UTILITIES

1214

ANOTHER

DECLINE

IN

COTTON

New York, May 1. Cution market bears tightened their hold on prices on Tuesday, forcing values down for the third day in a row, Traders favourable crop eited. more news, constant pressure of May liquidation and unverified as the Korean peace rumours main reasons for the decline.

A rapid rate of liquidation in May delivery gave impetus to the belief that at the end of the season, the supply shortage of be as treat raw cotton may

Voted.

Slow as recently demand for apot cotton,

discouraging reports on bust- ness in the dry goods trade and

Government's the

MESSAGERIES MARITIMES

MOM

"LES GLIERES" "CDT DORISE"

ARRIVALS

from Europa from Japan -eval SAILINGS

PASSENGER/FREIGHT SERVICE

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

"CIT DORISE" *SAINT VALERY" "DRIANCON"

to Japan via Manlia

...

3rd Mar

6th Mar to Marsojiles via Manila 19th May ...... to Marseillas

23rd June

FREIGHT SERVICE

N. Africa & Europe 6th May .N. Atries & Europe 23rd May .N, Africa & Europe 23rd June for

FORT SAID, TUNIS, MARSEILLES, ALGIERS, OBAN, TANGIEŃ, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

CIE DES MESSAGERIES MARITIMES Queen's Bullding · Tel, 26651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "LEXA MAERSK"

M.S.

"SALLY MAERSK”

*May 15 May 31

M.S.

"CORONA"

June 14

overnight

ted said.

action In allocating another 200,000 bales for export, suppor

that impression,

traders

ARRIVALS FROM U.S.A.

M.S.

"CORONA"

31

0.20

Leading spot interests con- 1.03 2000 m 3.03 tinued to pour offerings of May

the 370 into

ring. Sales were estimated at 25,000 bales, with

May 19

M.S. "ANNA MAERSK"

June 2

.M.S. "GRETE MAERSK"

June 26

400

500 4.75

Tramp. 31.30 11.30 100

C. Light (0)

C. Light (N) 348

C. Light (8) 5.15 5.5

ring demanil temporarily Allad, For Freights and Further Particulars please apply to:- 580 Spot month broke

23 2315-1300 @ 23 10.18

IN) 0.20

Electric Telephone INDUSTRIALS

Cement Ilope STORES, ETC.

Dalry

10% 1015

Watson

1715 1714

L. Crawfor Kwong Ston

Hond

13

11.00 12 100 1

1000 # 14.75 GOD 11.75

200 @ 26

200 e 4

The Rubber

Markets

London, May 1, Prices of rubber futures closed hare today as follows:- *** Number 1 rubber, and wool-

doubled; autoradio sets have

70

len textiles have increased by per cent, maching oll by 60 per cent, caustic soda, rubber shoes, silk textiles, coal tar and weaving machinery from

40

June

conta per lb. July/September October/December January/March

34 points under the ceiling price during the

but

mid-afternoon

quickly

dealings

It

rebounded. marked the first time May was sold undon the ceiling price since the resumption of trading on March 8..

The Government weekly crop proved favourable. It sald Shat preparation, planting, germination and growth in thỏ

main belt were

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 20661-3.

generally Be protected, anytime, anywhere in tho favoured by the above-normal the world — everywhere you go.

warmth and considerable sun-

shine. The additional export allocation of 200,000 bales would boost exports for the scuson to around 4,200,000 bales against 6,000,000 shipped overseas last

year.

Travel Accident

Insurance

The market opened unchanged for the duration of your trip, by land, sea

to off 9 points. Thereafter it remained under gradual pressure 835-1 Bail-junili maximum lösses of 34 10 48 BJ12-52 points were chatted up late in 4014-5014 the afternoon. it rallhd slightly 48-4814

at the close on technical replace- ment buying but still finished off 16 to 41 points.

-United Press. SINGAPORE MARKET

Singapore, May 1. Prices of rubber futures closed here today as follows:~~ Number i rubber, per th

Mary

to 50 per cent The list could be continued indefinitely.

On the rocclyng

end, Japan is romping similar and corres- pending advantages.

105-180 The United

Jun Blates National

182-183 Security Council

July

1701-18031⁄2 has already Number approved of the release

rubber, May 180-181 Number 3 rubber, May 374-175 Japan of strategic materials

Number 4 rubber, May 300-170 needed for the manufacture of trucks, communication equip. ment, bicycles and binoculars.

1,800,000 BALES

now

to

Japan, thus encouraged, has specific order for the following boldly lodged a first raw materials in 1981-82:

1,800,000 bales of raw cotton, 400,000 bales of wool, 100,000 metric tons of manganese ore 20,000 metrla

tons of copper ore, 3,000 metric tons of lead, 10,000 metric tons of zinc, 1,500 metric tons of nickel, and 100 metric tons of cobalt

Japan also needs and must therefore be granted supplies coal, pig iron, crude

of rubber, salt, copra :

oil,

and

Those were among the con- tial raw materials which Japan went to war to seize 10 years ngo. They will now be gencE- ously and lavishly pressed upon her under the threat of war elsewhero.

spot rubber, unbaied 186-181 Black crepe.... No, i pale crepe

FIRM

IN

246-140 197-207

-Unked Prens.

Closing prices:---

40.00

or air, at low cost

Benefits and cost.

Policy pays full'amount indicated in event of death or dismemberment, and medical expenses up to

$250 for each $5,000 of coverage.

Metals Aniount of Insurance

US $5,000 $10,000 $15,000 $20,000 $25,000 TERMS

Spot

May

July

45.32 bill 45.07

RATES US $

October

December

3Days

$1.10 $2.20 $3.30

$4.40

$5.50

March (1032)

May Datuber

30.05-39,00 30,81

7Days

2.00

4.00

6.00

9.00 *10,00

36.44 nominal

ToDays

2.70

5.40

7410

10,80.

13.30

United Press.

14 Days A

*3.33

670

10.05

13.40 1675

Closing rate

17-Days

*3.80%

*7.50% 11.O

15,20.0* 19,00

24 Days

4:50 9.00 13.50 5.40 10.80 16.20

18,GD. .-22.00"

Spot

MARKET y

1.170

1,700

TIN

London, May 1. and closed steady.

The tin market was firm today Turnover was 100 tons, Including 45 tons for cash.

Prices closed at the end of the official morning scesion follows:- spot tin, buyers pot un, saliers Business dope at ...... 1,175 Three-months tin, buyers Three-months tin, sellers 1,175 Buincm done al Sotulerment

1.175 -United Press. New York, May 1. Prices in the metal market here closed today unchanged with the following ex-eptlons:- Lead, common, New York, par lb. 20.00-22.00 cents.-

United Press.

168-1.160

Pepper Market

Meantime, with the national income up 32 per cent over last year, the Japanese Govern- ment-alone of al governments in the world todays slashing taxation, cutti toxes on

New York, May 1. liquor and amusement in half The black popper market ra- and reducing the tax on per- mained a slow affair today, On Bonat, incomda by as much as a nominal basis, dealers 'quoted 81 per cont.

the market around $1.65-2.00 "Japan's Imports and exporta pound, with tentative, buying will ambiant in at least 1,000,- Interest Indicated at 1 to 2 cents 000,000 dollars (sixteen hun- lower, dred million dollars) in 1951-

Bombay advices Indicated cgulicila Finance broadening European interest In Minister Ikeda, Tonabling Japan the primary market, Quite few manage without further offerings were reported around special (ie., hand-out) ald '1.99. a) pound, including cost from the United States,"

and freight-United Press,

52."

to

Copy Quotation Exchange Rates

New York, 1.

Duchask, “was done the tom Copra was quoted nominally will chur merges this at $240 por short ton, C.LP. the muring a chefaliqwing rates Pavilo. Coast. Cocoanut: DIL 00-th was quoted at 18-3/4 cents

pound, 70.1emils me. United Praze,

„Dienres (per, 200)

NEW ORLEANS MARKET

October December

March (1952)

May July October

May 1.

46.91 45.30 bid 45.00 bld 30.47 30.03 -38.07 38.95 bia 33.77 bld 38.35 bld 30.38 uld

-United 're,

New York Sugar Futures

New York, May 1.

futures closed

World suger

here

today unchanged to 8

higher, with sales totalling 204 contracts.

Contract No.

0 closed un- changed to 1 point lower, with sales tatalling 74 contracts.

Conteret No. 4 (world)

MY

pat

Contract No.

July September Бро

4.00 bid

-0.00

8.07 traded

6.77 traded 8.50

United Prekk.

31 Days 60Days

90 Days

120 Days 150 Days 180 Days

21.60*****27.00 8.10 16.20 24.30

(32.40****** (0.30. .10,80 21.60 32.40 43.20. 54,00 13.50 27.00 40.50 54.00 67.50 16,25 32.50 48.75 65.00 81.25 18.95 37.90 56.85 75.80

Or equivalent in other currency, 1792

PROTECT WHAT YOU

94.75

INSURANCE COMPANY

OF

HAVE NORTH AMERICA

609 Bank of East Asia Bldg. Tel. 31295.

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From

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Arrives

Straits

May 6 San Francisco May 20 May 10 Stroit

·May 10:

MAY 19: Ban Francisco June 4.

Jun. D San Francisco Jun," 13 Jun 24

May 6

FAT

San Francisco & Los Angeles

via Kobe, Nagoya de Volodymma.. Bingapore, pisicants, Bombay!

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