1951-05-10 — Page 9

a

Page

BRITISH

THE CHINA MAIL, THURSDAY, MAY 10, 1951.

PROPOSAL

R.PL ECONOMIC INTEGRATION

ROYAL

INTEROCEAN ̄ ̄ ̄ ̄ ̄ ̄LINES

SINGAPORE JAVA

PORT and

MACASSAR

"TASMAN"

"TJIWANGI"

"VAN HEUTSZ"

"TJIBADAK"

"TJITJALENGKA”

ARRIVALS

In Port

. 13th May

24th May

22nd May

31st May

not calling at Singapore,

MANILA, EAST &

"TEGELBENG"

"TJIMENTENG”

"RUYS"

"TJIKAMPEK"

SAILINGS Early June 18th May

6th June

SAILINGS

OF

WEST EUROPE AND

STERLING AREA

HONGKONG

SHARE

MARKET

The volume of business on

the Stock Exchange this morn- ing was valued at $102,375, The morning's transactions and noon prices: ~*~

SHARES DUYERS. SELLERS, SALES BANKS

HK Bank 1340 1360 Font Aria

SOUTH AFRICA and

SOUTH AMERICA

ARRIVALS

161 May

.16th May 18th May

18th May Late June Early July

101

SAILINGS

INSURANCES

Un XD.

700

720

Underwriter

3.25

SHIPPING

Early June

10th May

Ania Nav

1

21st May

DOCKA, ETC.

"

23rd May

K. Wharf

75

GM

1000 74

105

25th May

N. P. Whart

Provident

23rd May

23

1812 24

Mid June

LAND, ETC.

JAPAN "TEGELBERG;" "TANMAN”

"THIKAMPEK”

"TIMENTENG"

"VAN HEUTSZ“

"TJIBADAK"

*RUYS"

via Manila,

ARRIVALS

16th May

Early July

Agents: HOLLAND EAST ASIA LINE

EUROPE via 'MANILA

and MALAYA

"LANGLEESCOT"

"ARENDSKERK"

not calling at Manila,

Through Bs/1. Issued

10

Mediterranean and Northern European Paris.

JAPAN

"LANGLEESCOT"

"ARENDSKERK"

+ via Monila.

ARRIVALS

SAILINGS

20th May*

18 May

12th June

ARRIVALS

SAILINGS

18th May 10th June

24th May+

SERING'S BUILDING CHAMAHONESTO28815102

MAZIGRE

STATES STEAMSHIP CO.

S.S. "COLORADO“

LOADING ABOUT 10th JUNE

FOR

VANCOUVER, SEATTLE & PORTLAND DIRECT

DODWELL & CO., LTD.

Agents

Tel: 28021/6.

Credit Restrictions

Affect US Building

Washington, May 9.

Wheelock

TX Land XD

Shal Land

UTILITIES

Tram

. 1.10

Light (D) 0.10

. Light (Ni 350

C. Light (B) 473 Electric

Telephone

INDUSTRIALS

Cement

liepr STORES, ETC.

Dairy Watson

01

237% 100 a 23

Strasbourg, May 9,

Mr Robert Boothby, leading British Con- servative, today proposed the integration of Western Europe's economy with the Sterling Aren's.

He told the two-year-old European Parlia- ment here that the immediate creation of this great, new economic bloc represented the only means of expanding output.

He told representatives of 280,000,000 West Europeans that it was

An illusion t believe that the transform:- tion of the individual nations of Europe into a single mur- ket would lead to greater output.

To add to the trading deficits of 12 countries would not re- sult in a total trading surplus, he maintained,

The economies of the coun- tries of Europe were not com- plementary, Mr Boothby con- 10 10% 500 m 104 | tinued.

1000 10,

12

But if the countries of the British Commonwealth, as well 17 17 300 a 17 as the overseas territories of France, Belgium and Holland, were added to the West Euro- pean economy, a balanced economic unit would emerge.

"This would enable us to participate on equal terms with the United States in the econo- mic expansion of the tree world us a whole," he spid,

The Rubber

Markets

London, May 8. Prices of rubber futures closed here today ar follow- Number I rutier, in cents

per ib.

June

July/September

Oclober, Decetuber January/March

SINGAPORE

47-4-40-1

48-48-16

47-4-48

45-14-47

40-14-40

United Press. MARKET Stugapore, May 9. Prices of rubber futures closed here today as follows: Number 1 rubber per 1b.

May

June

Juty

Number 2 rubber,

May

Number 3 rubber,

May

Number 4 rubber,

May

Sopt rubber,

unbaled

Black crepe

No. 1 pale crepe

170-14-171 186-15-187 164-1-103

168.160

106-107

161-75-102-15 171-172 140-14-142-14 180-190 -United Press,

NY MARKET

Mr Boothby later said he had drawn up a motion in the fol- lowing terms:

EMPIRE'S PART

The Assembly requests the Economic Committee to study methods of achieving a closer co-ordination between the cconomics of the meinber States of the Council of Europe and those of the countries overseas having constitutional links with them and to report,"

Mr Boothby added that he very much hoped that the repro- sentatives of the Commonwealth would be present at the next

ADVANCE IN

COTTON FUTURES

NY

New York, May 9. Firmness in old erop deliveries {catured the cotton futures market. Crop news was again mainly favourable, Activity was centred on May position.

private

crop summary estimated new cotion acreage at 27,780,000,

compared 18,654,000 acres last year

with the Government's present goal of 28,503,000 acres,

A

and

The market opened unchanged to up 6 points and clored up i to 16 points. Prices closed follows:-

Spot

May

40.00

48.39 anked 49.30

July

October

30.03

December

March (1952)

30.00.38.01 36.01

May July

October

ар

30.65 nominal 38.23 nominat 36.20

-United Press.

NEW ORLEANS MARKET

Closing rate Moy B.

May

Spot

4121

45.38

July

43.22

October

30.30

December

33.79-38.00

March (10521 May July. October

39.70 bid 38.03 bid

38.21 bid

meeting of the Council of Europe BIG

in the Autuma, when this sub- ject could be discussed.

Must of the other speakers from the 15-member nations

Now York; Moy 0. greed today that. (1) Europe Crude rubber Spot No. 1 can only defend herself if she ribbed amoked sheets 06 asked.rently increases production; and Associated Press.

(3) the shortage materials is gravely threatening this defence effort.

LONDON TIN MARKET

London, May 0. Prices of tin cloved here to- -day-at-the-end-of-the-oMelal- morning session as follows:

Spot vers

Spot in welleza Busines done at

Three-months tin."

.buyers

A levelling off of home building has resulted Three-months ta. from United States Government restrictions on

housing credit that are

inflationary tendencies and

designed to curb

conserve scarce

materials needed for the defence programme.

This February was the first) one since the end of World War

Il when the number of non-furm dwelling units Pul under

construction failed to set a new record for the month.

About

BD,000 units were

started in February, a month in

which home bulking activity

usually rises. This volume was

Grain Prices

In Chicago

Chicago, May 9.

8 per cent below that of January Prices of grain futures closed and slightly under the number here today, as follows:

Wheat price per burhel.

of units begun in February 1950. Sput

The credit restrictions Intended to keep construction of September

non-farm dwellings town

are May July

to December

Corn

300,000 to 350,000 units in 1951, Spot

compared with the

1,302,630. May

units started in 1950,

on

selter Business done at Settlement

1.140

1.150

1,120

1.1224

1,123

1,145

United Press.

New York Sugar Futures

New York, May 9. World sugar futures closed bere today unchanged to 13 points higher.

Contract No. 6 closed 0 higher to 3 lower, with sales totalling 470 contracts. Contract No. 4 (world) May

IN

36.22 bid United Press.

London Stocks || MESSAGERIES

Irregular

London, May 8, Industrial leaders го- covered early lower but some other sections finished lower in

Irregular ession of the London Stock Exchange today.

Gold and copper stocks scored small gains on light buying. Olla closed with minor minus signs, British Government bonds Were quiet.

Financial Times' index: 130,4,-Associated Press.

NOVEL

M

"LA MARSEILLAISE”

ARRIVALS

from Japant

SAILINGS

MARITIMES

M-

PASSENGER/FRKIGIÏT SERVICE

18th May

"LA MARSEILLAISE" .... to Marsellies via Manila 10th May "FELIX ROUSSEL"

"BRIANCON"

UK

TRACTOR PRODUCED

London, May 9. Poultry farmers, nurserymen, market garduners, builders and surveyors are just a few of those likely to be interested in the roller inuictor, a remarkable and novel lightweight three- wheeled unit. Easy to handle, work can cart, carry and pull this petrol engine "maid-of-all- and be turing, weeding, bedding

used for such jobs as rolling, transporting water and cut, food for animals and for carry ing domestic loads, machine to traverse paths,

Its narrow width enables the through Entes and even operate Inside sheds for loading

cutting,

go

and

out

unloading-thus double handling. Powered by three and a

half horse-power Victor

Petrol engine, thes in Albion gearbox with three forward and one reverse positions. Forward

speeds of three to 18 miles (4.8 to 28.0 kilometres) per hour are ob- tainable. The engine is fan- cooled and it has double covers to protect it from dirt and

rain.

The operater sits on a sprung saddle on

the right of the engine and steers with a tubular handle-bar

On which

to Marseilles

FREIGHT SERVICE

23rd June

...N. 'Africa & Europe 25th May

for

PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIEŃ, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & NOTTERDAM. ·

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. "LEXA MAERSK"

May 15

M.S.

"SALLY MAERSK"

May 31

M.S.

"CORONA”

June 14

ARRIVALS FROM U.S.A.

M.S.

"CORONA"

May 19

M.S.

"ANNA MAERSK"

June 3

M.S.

"GRETE MAERSK❞

June 28

throttle and brake grips, A For Freights and Further Particulars please apply to: damper on

the steering

minimises shocks

when

travel- ling over rough

ground, A novel feature Is a patent foot brake which has two posillons- pushed down with the too the vehicle Is temporarily stopped, forward pressure locks 11 in a ratchel,

Between the two back wheels Arc two side-by-side rollers

ADVANCE which act as a fly-whee! and

WALL ST.

New York, May 9. Railroad issues dominate

a rising stock market day

aid traction over rough ground, It the wheels are removed (an operation

taking about the machine minute)

can be used

Ds a roller. Normally a over these wheels which removable bucket is mounted .con a load of about three

of raw Trading was petive. Generally, | credweight (162 kilograms).

The Consultative -Assembly of the Council had before it a number of proposals to incet the

raw

materials crisis and to boost production in an effort to cut unemployment-Reuter.

Car Factory Converting

To Planes

Detroit, May 9. The world's biggest manu- facturing plant under one roof Kaker-Frazer's Willow Run -will become symbol of this nation's

a dramatic and butter" economy before the "gun end of 1951.

Passenger cars for civilian use and glant cargo planes for the air force will roll out of the 80-acre factory

the same

GAD bid

2.43

2/43 -2,42

22 14

2.50 -2.50

July Replember Spol Contract No. 0 July September Spot

0,50 traded 0,30 6.45

time.

0.00 bid 5.95 traded

-United Press.

Pepper

Market

took

1.817

1.701 J.0612

2.01%-2.02

87%

July On Oct. 12 restrictions were December

September placed

private credit

nye Government housing loans and May July special

Oata wor veterans' May homes and farm housing.

On July Jan 12 restrictions were also

New York four-per 200 lb.. sack. placed on the financing of multi-

$13.15.-United Press. -family housing.

loan Insurance, and Anancing for

In general, these restrictions require larger down payments find shorter-term

-Lower-percentage

mortgages.

down

pay-

at

the advances ran to more than

$1 a share, with a strong spurt Trailers can pushing into the $3 to $5 range.

be towed behind The phenomenal St. Louis such as a mower can be hauled

the tractor, or other

appliances $20 to US$300 a share, up $58 Southwestern Railway jumped

The along.

whole apparatus measures only six Leel (1.82 tured by H, R. Nash, metres) long. It is manufac-

Branscombe, London Road, Dorking, Surrey. 95.40

this week.

Volume of business expanded to about 2,000,000 shares.

Dow Jones Averagos; Stocks

20 Industriais 15 Railroads

'0 Utilities

201.49

85.32 42.58

-Associated Press.

Mexico Lifts Restrictions On Cotton

on a

Subsidies For Shipyards

Paris, May 1.

today

The French Cabinet

AGENTS:

JERSEN & CO.

Pedder Building,

PENINSULAR

Tel. Nos, 26661-8.

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CANTON"

SAILS:

NOTICE TO PASSENGERS

decided to present o Parlin BAGGAGE: ment a Bill to subsidise French shipyards.

on

The object of the subsidies, the Information Minister, M. Albert Gazler, sold, is to en- able French shipyards to meet International competition

equal footing. The Bill also sidles for new shipbuilding and proposes sub- for ship repairing--Reuter.

.on

Shipping Cuts

Car

Exports

London, May 8. In February 63,112 motor vehicles were made ini

SATURDAY. the 12th MAY at 5.00 p.m. for the UNITED KINGDOM vlu Straits, Colombo, Bombay, Aden and Port Said,

ALL passengers baggage must be sent. to the Hongkong & Kowloon Wharf Co.'s Godown at NO. 2 GATE, CAN- TON ROAD ENTRANCE by NOON on FRIDAY the 11TH MAY.

SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.

EMBARKATION: WIll take place on SATURDAY, the 12TH MAY between 2.00 pm, and 4.00 p.m.

the NOTICE TO CONSIGNEES

from which thou of 129's said that despite recent United Kingdom, against 68,164

War 11.

in January. Exports were 37, 459, agninst 47,798.

CONSIGNEES PEN AUSTRALIA-WEST PACIFIC LINE

Mexico City, May 9. Mexico today, lifted the last restrictions on cotton exports,

The Economles Ministry said that the embargo was removed because the foreign trade bank had acquired enough fibre to supply Mexican textile mills with all the raw material they As Kaiser and Henry J autos need. The Ministry also

sald are hauled to dealers across that the recent decreases in the country

an undisclosed cotton prices on the International number of the C-119 Fairchild market had placed price levels curgo ships wil military

be flown to abroad almost

paraiteli Dases

directly from basis with Mexican quotations, Willow Run Airport the one

The Agriculture Department off

during

plagues and other disasters, The auto company said that Mexican cotton production is ex. within a short time the complex pected to surpass the all-time New York, May 8. job Black pepper offerings were third of the factory's 3,000,000 United Press,

of converting about one-high of 1,100,000 bates in 1960, avaliable pound on

at around $1.00 square feet of floor

space an ex-dock basis. plane production will be under News of Army inquiry for around 335,00

pounds excited

At the same time, output of Bids will be 900 cars a day will not be in- here on May 15,

terrupted in the remaining 2,- The New York Produce Ex-000,000 square feet of assembly change reported that stocks of lines and pressed steel shops.

Washington, May 9. black pepper in licensed ware-

To accommodate C-110 houses on April 30 amounted duction,

The Economie Co-operation 119 pro- 'to 0,040 bags-United Press.

machino Administration announced today. shops, paint spray lines and the that it had authorised $220,000

In the godowns for examination by Anal auto trim

Consignees and the Company's zur- dnes, are now for equipment to rehabilitate the day

veyors. Mere Carmichael & Clarke being re-located. This will re- Lo Bande College of Agriculture the two-cent a pound import

at 10 am, on the 10th May. 1051. and the Central experiment duty on foreign copper, sembly lines.

station in the Philippines.

To comply with the Central By the

Warehouse The suspension of the import and of this year, the

Regulations This brought total authorida duly firm's

under current 11,000 employees tions,

the legislation, nes must-have Revenue under the

Officer in attendance when damaged on clvitian production will be interim pid programme,

$15,000,000 which is to be retroactive to · dutisble goods are examined. 1843 reinforced by on estimated 0,9874,000-United Press.

10 April 1, 1951, will run to Feb. 6.175 000 to 8,000, more war workers.

18, 1953, or the end of the pre- 27.00-United Press.

sent. emergency, whichever is Booner. Reuter.

Ceiling Prices For Wool

1

Washington, May 9.

pct

ments required for low-priced homes, and preference is given The Government today ex-Servicemen through lower dollars and cents ceiling prices down payments and longer on standard grades of wool. mortgage maturities,

Government estimates

In

1030 indicated that

about

-

Price

Control officials sald the results should be to crease wood imports and prob- 1,250,000 additional farm and clothing during the next year.

ably increase prices of wool non-farm unita of housing would

The order from Omice

of

be required each year for 10 Price Stabiation is effective years to catch up on existing at once. Celling prices, poner- demand, meet new needs, and ally, are 45 to 70 per cent higher rehabilitato or replace standard housing,

sub- than before the Korean war.—

Associated Press:

This was the general objec- 4ive of the national housing. policy until the Communist

Invasion

of the Republic

of

Korea forced in revision of the

Bank Quotations

and finaling that

New York, May 0. Bank quotations: amount of housing construction Bank of Amenten 2114 big, 2015, acad

could be has National porilled,

National City. 44ft bid, 4511⁄2 naked.

-Associated Press.

WAY

awever,

to

Exchange Rates duce the capacity of auto 95-

Diginos was done in the loon unoffici

**chanze markot

moming "at the following rates:- Berling note (per_K) UH. dollars (per $1) Indonesia guildets (per 100)

Blom Lirale (per 100) Singapore (Birafta)|

FIC plastrée (per 100)

300

4.700

13.40

Exchanges In NY

New York, May D. Foreign exchange: Candda Data in

Ostern

unchanged.

Associated

· Offers Of Copra Now York, May D

Sollers offorest coprn at #222.60 per short ton, C.LE. the Pacife Const. Cogosmat oll was offered

ECA GRANTS TO PHILIPPINES

Japanese

Bonde

at 17 gente a pound, F.O.B. | Coriol; Milla-Unite Prose,

zy London, Mar 0. bonde

Cut in exporia, said the Society of Motor Manufacturers and Traders, reflected shipping dim culties, particularly to Australia and New Zealand,

SUSPENSION OF COPPER DUTY

Washington, May 9, The United States Senate to. passed a B, to suspend

Textiles Quiet

Now-York, May 9. The 'colton textile market was quiet today. There were i sent- tered sale of print cloths. The; jwool: goods imṇarket was: dull, Rayon goods were steady, and quiet hajociated Press.

1.3. “BRYNJE"

are hereby notified that their cargo kong & Kowloon Wharf & Godown

PRESS PHOTOGRAPHS

Copies of

photographs

ja being discharged into the long-taken by the South China

Co godown where it will be at Morning Post, South China consignees risk and subject to the Wharf'o terms and condition storage. and where delivery may be obtained.

of Sunday Post-Herald,

and

China, Mail Staff Photo-

Damaged packages are to be left; graphors aro on viaw in the

Bonded

No claims will be admitted after the goods have left the steamEE'S godown, and all goods remaining undelivered after the 19th May, 1951. will be subject to rent,

J

All claims against the steamer must be presented to, the Under. signed on or before the 24th May. 1961 or they will not be recognised. No Fire Insurance will be effected.

BODWELL & Cos tip, Agents. Hongkong, 10th May, 1951.

Morning Post Building.

ORDERS BOOKED

St. John Ambulance. Brigade

FREE AMBULANCE SERVICE

Tel. Hongkong

Kowloon

50000