1951-05-04 — Page 9

RIL

ROYAL

INTEROCEAN.

SINGAPORE JAVA

PORT and

MACASSAR

"TASMAN"

"TJIWANGI"

"VAN HEUTBZ”

MANILA, EAST &

SOUTH AFRICA and

SOUTH AMERICA

""TEGELBERG-

TJIMENTENG"

"RUYB"

"ТЛКАМРЕК"

JAPAN

"TRGELBERU" "TASMAN"

"ТЛКАМРЕК"

"VAN HEUT8Z"

"RUYS"

vin Manlia.

ARRIVALS

LINES

THE CHINA MAIL, FRIDAY, MAY 4, 1951.

BOOM ON FRANCE'S EXPORTS TO

LONDON DOLLAR AREA AT NEW EXCHANGE RECORD LEVEL

London, May 3. Brisk buying buoyed up prices in all sections of the London SAILINGS

Stock Exchange today.

5th May 13th May 22nd May

Early June 17th May

SAILINGS

ARRIVALS

.11th May

.15th May

17th May

Early July

. 19th May

ARRIVALS

15th May

Early June

.Early July

SAILINGS

10th. May 21st Mayt 23rd May Mid June

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"LANGLEESCOT"

"ARENDSKERK"

• Not calling at Manila

Through B/L lared Mediterranean and Northern European Porta,

JAPAN "LANGLEESCOT" "ARENDSKERK"

ARRIVALS

17th May

ARRIVALS

SAILINGS 20th May* Mid June

The rally was led by shares of heavy industry, engineering firms. Brewery and textile issues were also prominent.

British government bonda scored gains ranging up to

5/16ths of a polit.

were quietly Government

Foreign bonds firm. Japanese issues andshed strong, the 19076 up at 30, the 1910s up at 40%, and the 1930s up at 70.

Financial Times Index: 135.5, -Aspociated Press.

NY BUYING WAVE

New York, May 3. Outstanding strength in rails brought a buying wave today that pushed the stock market to a new high for the year.

There was some hesitancy In the list about mid-way through the session, but it was smothered in the final hour when virtually every major group plunged for-

ward.

The

market simply Ignored anything of an adverse nature and put a bullish Interpretation on everything at hand,

Along with railroad shares, substantial advances were made copper by steels, chemicals, mining issues and a long list of Individual issues, including SAILINGS Pharmaceuticals.

18th May

Mid June

· 22nd Mayt

† via Manila,

KINGS BUILDING MUTERHOSESTEMU TO PRO LIAVE

STATES STEAMSHIP CO.

S.S. "COLORADO"

LOADING ABOUT 10th JUNE

FOR

VANCOUVER, SEATTLE & PORTLAND DIRECT

DODWELL

Agents

CO., LTD.

Tel: 28021/6.

Farmers In Russia

To Lose Private

Of Land Plots

New York, May 3.

Automobiles closed about unchanged after logging ulmos! all day, and the uircrafts were unchanged to

Motion lower. pictures didn't do very well, and advanced utilities on average slightly,

Transfers totalled 2,000,000,

Six hundred and seven stocks advanced and 312 declined. There were 78 new highs and 22 new lows.

Gainers included Santa Fe, Union Pacific, Nickel Plate, International Silver, Phelps Dodge, Columbia Carbon, Allied Chemical, Philip Morris, Sterling

Calumet Drug, Armour,

and Hecla, Colorado Fuel and Iron.

Dow Jones Averages: Slocks

20 Industrials

15 Railroads

10 Uullties

95,93 203.13

85.72

12.63

-Associated Press.

NY Cotton Futures

New York, May 3. Prices of cotton futures clos

ed here today as follows:-

Spot

May

July October

46.06

45.39

45,01

39.53

December

10.99

March (1052)

33.80

May

July

October

33,03 nominal 33.33 nominal 36,30

New York, May 3.

Value of exports from France' to the dollar areas have reached the highest level they have ever attained since the end of the Second World War.

They stood at 12,700,000,000 francs. This is two-and-a-half times as great as the monthly average in 1950, and five times greater than the monthly average in 1949.

The Increase, states

the has been.) "New York Times,"

since the particularly marked Korean war, and has largely resulted from the export of steel products. In the first half of 1950 sales to the dollar area. were about 3,500,000,000 francs a month. monin.

Three-quarters of French ex- porta to the dollar area went to the United States. The remain- der Was divided

ded between Canedo and Central America.

HONGKONG

SHARE MARKET

Transactions on the Hongkong Another notable

Exchango point, it is Stock

during this stated, has been the reduction morning's session totaled $402, of the French trade deficit with $41.05 in value. The morning's the dollar аrеа.. While this business and noon prices were:- amounted to a monilly average SHARES BUYERS BELLENS RALES af 14,200,000,000 franes in 1949, BANKS it was 10,000,000,000 a month In the first half of 1950, and only 6,000,000,000 a month second

HK ap

East Asia INSURANCES

Canton

.. 1365

.100 1370

102

230

Union

HK Fire

350 74736 495 $ 135

1000

1

in the

At present, French imports of 37 per cent. are comprived

area, 28 per from the sterling cent. from Marshall Plan coun- tries outside the sterling area, ·SIUPPING

from the dollar Aala Nav 17 per cent,

rest from other area, and the countries.

France's ex- With regard to ports abroad, 50 per cent, went to Marshall Plan countries out- 20 per side the sterling area, cent, to the sterling area itself, 13 per cent to the dollar area, and the rest to other countries.

ROOM FOR EXPANSION The view that the United States exports could reach a value of $12,000 million this year if American exporters did not succumb to fears or in- difference in the face af new problems and dangers, was ex- pressed by Mr J. Clifford Stark,

the McGraw-H

Interna- tional Corporation, when ad- dressing members of Export Advertising

Association, in New York, Exports from the United States in 1950 were valued at $10.000 million.

The realisation of this objec tive,

Mr Stark said, was not a question of how much the Uni- fed States could sell, but of "how much we will, and must sell."

210

Noting that dollar shortage lunger existed in a broad sense, and that the

United States depended on others for materials, Mr many essential Stark cited 4wo other considera- tions for maintaining export Irade for reasons other than ordinary business prudence. They were:

VITALLY IMPORTANT The vital importance of Im-

DOCKS, ETC. K. Whart N. P. Whoe Dock

72

6.30

2214

Provident Wheelock

LAND, ETC. HK Hole!

HK Land XD

UTILITIES

Trum

Warner

Brothers

May Sell

CONFERENCES

SHARE OFFER

ON

New York, May 3. Two of the three fabulous Warner brothers appear to be on the verge of retiring from the big motion picture concern bearing their names. Conferences are expected to оп д begin here on Monday $25,000,000 offer for the 24 percent of the $28,000,000 shares of stock in the company held by Harry, Albert and Jack L. Warner and their families.

While

minority holding, in control of the company. this represents practical work-

The offer has been made by 101370 an investment group headed by 21370 Louis A. Lurie, San Francisco banker and real estate operator, who says his associates include Trans-America Corporation.

Harry Wamer, President and Board Chairman; has confirmed that he will

Mr meet with Lurie on Monday and calls the $25,000,000 offer an agreeable figure, adding "The chances are we can make a deal."

The hour and place of the meeting were not made known, and considerable secrecy cloak- 330 m 0% ed other details.

11.50 11.00 500

11.50

500

1150

1150

777

0.10

C. Light (0) 0.10

Laghi (N) 3 C. Light (8) 3.60 5.85 Electric

INDUSTRIALS

Cement Hope STORES, ETC.

Dairy COTTONS

Ewo

While Harry Warmer indicated that he and both his brothers would retire from the $101,000,- 000 company if the deal were completed, Mr Lurie said Jack L. Warner would continue to

Pictures at the firm's make

23 studio. Jack Warner is Vice- President and executive pro- ducer of the company, which produces about 25 feature films short bumerous year and subjects.--Associated Press,

2

10-20% 12%

32 1231⁄2 800 a 12%

2.50

The Rubber

Markets

London, May 3. Prices of rubber futures closed here today as follows:- Number 1 rubber, in cents

per lb. June...... July/September Detober/December January/March

5374-54

5212-12

5016-51

4834-49 United Pross. SINGAPORE MARKET

Singapore, May 3,

United-Prem.porting-strategic-materials--It Prices of rubber futures closed

Spot

May

July

3. May

44.31 43.30 bid 45,00

October

30 38-39.39

Desember

38.84

March (1953) May

October

38.80

33.60 bid

NEW ORLEANS MARKET

the US. was to sustain and ex- Cloning rate pand its productive machine for military and civilian purposes, with other countries demanding increasingly that America should supply them with essential goods in return.

Economic co-operation maintain stable civilian econo- mies, and

further to promote economic development 09 * safeguard against the spread of

are losing July

that each once allotted for

The Soviet farmer and his family their last means of enjoying the fruits of their own labour. The small private plot of land member of a collective farm was

his own use will soon be a thing of the past, accord.

ing to The New York Times.

Until recently a peasant family in a collective farm

was allowed to cultivate and to raise livestock on this

private plot of land after each member of the family over the age of 16 had given the collective farm some 120 workdays of his time.

After paying taxes and meet in regime, at least by passive But under the new ing the State's demands for means, heavy deliveries of produce at agricultural town system, it says, one-fifth its market value, the the monolith of the Soviet State pensant family was allowed to will be complete, with party of the peasants eat the balance of the produce supervision

vastly. facilitated by centralised or sell it in the public market.

administration. However, the Times reports

The Times quotes Soviet that Soviet collective farmers are now being forced to leave sources that acknowledge that

the shift

will to agrogorods

The

behind their private plots of land necessitate a vast construction under the agrarian programme

newspaper the Soviet Union Le carrying out. programme.

15 says the precipitous shift to the peasant population now going "Liquidate" the existing structure on illustratos the utter

This

programme secks

of collective farms, or kolkhozi, and amalgamate the collectives Into large agricultural-town, agrogoroda.

But

for regard

human fcollags

it says,

Grain

In

30.23 bid 30.10 bic

United Press.

Prices Imperialist Communism.

Chicago

Chicago, May 3. Prices of grain futures closed here today as follows:- What-price per bushel.

Corn

2.4014 2.484-% 2471481

to

He declared that the "threat we now face is not alone a milltary one, but political, ideo- He logical, and economic." stressed also that other coun- tries still had noods for goods of the dollar unfilled because shortage.

New York Sugar Futures

here today as follows:- Number 1 rubber. per lb,

May Juna --- July

184 -187 1814-1842 181 Number 2 rubber, May 1806-18115 Number a rubber, May 115-178 Number 4 rubber, May 11-172 Spot rubber, unbaled Black crepa

187 -188 14814-140 No. 1 pale crepo ...............A 135-205 -United Pres.

膜

NEW YORK MARKET

New York, May 3,

Crude rubber: Spot No. 1

ribbed smoketi sheets 60 asked,

Associated Press.

TIN

MARKET STEADY

#1

U.S. Money Circulation

Increases

Reserve

Washington, May 3. Money in circulation increased $133,000,000 in the week "ended May 2, the Federal Board reported today.

The Board's statement said: the week ended May 2, bank reserves decreased $234,000,000, The

principal changes reducing reserves were

increases of

of $133,000,000

in

money in circulation, $29,000- 000-in-Treasury-

deposits with Federal Reserve Banks, and do- creases of $65,000,000 In Re- serve Bank credit and $52,000,- 000 in gold stock.

The

principal offsetting change was a decrease of $05,- 000,000 in other Federal Reserve accounts

Associated (net)." Press.

Tidewater Oil

Co's Activity In Japan

New York, May 3. William Humphrey, president of the Tidewater Associnted Oil Company, told stockholders to- Londen, May 3. The the market was steady day that the company's activi this morning. Turnover was 85 ties in Japan are assuming siz tons, including 16 tons for cash, able proportions again.

Prices closed at the end of the Tidewater will spend $1,600,-

000 as its share of the expan morning New York, May 8, official

the don programme World sugar futures closed follows-

Mitsubishi Company in which unchanged to 10 Spot tin, buyers here today

Tidewater has half Interest, points higher, with sales total pot tin, seliers

und der

Mitsubishi's present refining Three-monthsa

buovers New York four-per 200 m. sack, ling 132 contracts.

Contruct No. 0 closed 2 to 9 pointe higher, with sales total-The-months tin,

meter. ling 227 contracts.

Business done at Settlement

Spot May July

September

December

nyo

May

July

Oate May July

$13.03.-----United Press.

1.005%

2.0036

0.0214

Weekly Bank Closing prices-

Statement

May

Judy September Бров

July September

Contract No. 4 (world)

16 bi 140 bai 5.33 nominal

34

0.49 134

London, May 3, "The Bank of England state= | Spot ment for the' wbek ending May

2 reads as follows

Notes in circulation... £1,318,842,000 Publia. deposits

involved in Soviet state plan- ng, because both rural and urban hotising always hns The ostensible purpose of this Lagged in the Soviet Union. programme according to the Soviet magazine Bolshevik, ia the the shifted peasants are going

"It is evident," it

"that Lestruction

of the contrast to have a hard, time next win- between town and country."

It is officially admitted the Times says that Ler,

Soviet Union three years to construct the 960 students of the believe the ultimate result will residential buildings in the new bo · thd liquidation of the peasan

Bankrolla Stalin Agrogorod near Kher try, as it is consututed.

now

son. Despite

this, there is They say this will be done just as efficiently as the kulaks (in-apparently every intention of

the plan dependent farmers) were des pushing

that

a it will, for example, tako

troyed in the 1930s and as many regardless of hardships." kulaks are now being eliminated infthe Soviet satellite countries.

STATE MONOLITH

Among the effects e' the pro- gramme that the Tim

through

SIGN OF TIMES

Private deposits Government avcurities Other securities Receipts

20-240,000 *SIDAR1,000 318,050,000 85,050,000 31-219,000 United Press

Bank: Quotations

Now York, May 3. Closing quotations:

HERTEREN bladed Bands of America 24. 27% 28% Chase National 36 38 National City 4·407%.

Aasoolatodi Prošs.

Malayan Tin Production

session

DS

1.140

1,145

1,143

4,325

1,130

1,130-1,120 1,145 -United Press.

Dull Market-In

Textiles

New York, May 3, The cotton textile market wa dull,

Re-sale offerings increased in print cloths, with plows heavy. Washington reports indicated that specific ceilings on cotton textiles may be released by the OPS into this week,

capacity of 4,500 barrels daily will rise to 7,700.

Humphrey sald Tilewater's Arst quarter net income was $8,020,000.-United Press.

Japanese

Japanese bonds,

Consola

Bonds

London, May 3.

..4014

“A” (41. at' 1899) 4133

(48. of 1910) 'The of 1997) "D" 15%, af. 1924)

-United Pren. Now York, May 3, 2 „Japanese : Bonds were irre- gularly lower in the foreign dollar section of the bond mar- ket today.

Singapore," May 3. The production of tin con- centrates in the Federation of Malaya for the fest, quarter of this year amounted to 18,399 The wool goods markat was tons and, was the lowest sino quiet, the second quarter of 1949.

The export girs for the more active, with prices mixed: added one and the 61s mice was 10370 tons as --Associated Press, compared with 10,014 in the corrobonding period, of 1950– Router.

Rayon goods were a litle

Dar-es-Salbam, Giay 2 Dar-es-Salaam la

Exchange Rates

Exchanges In NY now 480,000 port which

Beattle, May B. forssees When Manchuria was in' Ja- are the creation of landless panese custody before World and impoverished peasantry, the War II, shiploade of soya mgal disappearance

the old village from Manchuria used to arrivo of communities, and a reduction in hore.

his year'a grain, harvest. -

Now Cirnos Fave thanged. The The Timer explains that the steamalti · Purpllo Star is

Tork, May 3. peasant class is the lost largo loadings 5,000, on koostat: 8038 Closing, foreign exchange population clad in Fuse meal here from U.E. domestic Canadian!

thestouts and mulla tomorrant-for Othe capability of resisting, the Krem-Japan, lasociated. PrRIBUT

will be one of the best in East mosules at the following twin -

the: sirport een koperd Late should be ready by August, blogipor={(5traita),

1952, Associated Prem.

Tokyo City. Fives lost two points and Tokyo Electric Light] Rixos dropped one; Japan

gained Press,

n

fraction-Associated

· US Import Price

Regulations.

Washington, May.. 3.

MESSAGERIES 1 MARITIMES

M

"CUT-DORISE”

"LA MARSEILLAISE"

ARRIVALS

from Japan from Martellier

SAILINGS

M

PASSENGER/FREIGHT SERVICE

"LA MARSEILLAISE” "LA MARSEILLAISE” "FELLE ROUSBEL"

"UDT DORISE” "BAINT VALERY" #BRIANCON"

to Japan via Manila ...

5th May

Bit May

6th May to Marseliles via Manita 19th May to Marseilles

23rd Juno

FREIGHT BERVICE

‚N, Africa & Europe 6th May N. Africa & Europe 23rd May

·N. Africa & Europe 23rd June“- for

PORT SAID, TUNIS, MARSEILLES, ALGIERS, OBAN, TANGIKÉ, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26651 (Threo Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "LEXA MAERSK” M.S. "SALLY MAERSK" M.S. "CORONA"

"ARRIVALS FROM U.S.A.

"CORONA"

M.S.

M.S. “ANNA MAERSK”

M.S. "GRETE MAERSK”

May 15 May 81

June 14

May 19

June 2

June 25

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder "Building

Tel. Nos. 26661-8.

M.V. "LA MARSEILLAI

will sail for

MANILA, YOKOHAMA and KOBE. -

on

Sunday the 6th of May

at 11 P.M.

Passengers are requested to board the vessel-with- their cabin baggage on SUNDAY the 6th of May Between 7 PM and 9 PM.

Baggage Room and Hold Baggage will be registered at Kowloon Godown No. 50 (No. 2 Gate Canton Road, Entrance) on Saturday 6th of May between 9 A.M. and NOON imperatively.

No baggage will be accepted for registration after this time.

CIE DES MESSAGERIES MARITIMES Tel: 26651 (3 Lines) Queen's Building

APA

PATTISON ORIENT LINE

Limited

S.S. UNION TRADER

DEFINITELY CALLING HONGKONG

ON OR ABOUT MAY 13

DIRECT, SAILING

NEW ZEALAND

́(AUCKLAND —— WELLINGTON) 12-14 Queen's Rond.C.

Tel: 28340

The United States Govern- OVERSEA CHINESE STEAMSHIP CO., LTD.

ment today issued price regula-

Chlabse Agents:

*

27.00

1.703

goods. "ranging fabera Beetch whisky to French china-A$$]= ciated PreRE.

48 Bonham Strand, West.

wakasiga tione dealing with imported

Tel: 26127

& 81119