1951-05-14 — Page 9

MESSAGERIES MARITIMES

M

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ARRIVALS from Japall

BAILINGS

M

PASSENGER/FREIGHT SERVICE

18th May

"LA MARSEILLAISE" .... to Marseliles via Manlia 19th May *FELIX BOUSSEL"

to Marseilles

"BRIANCON"

"BASTIA"

"AURAY"

23rd Jung

FREIGHT SERVICE

N. Africa & Europe 24th May N. Africa & Europe 15th June N. Africa & Europe 13th July

for

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

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26661 (Three Lines)

SERVICK

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vla SAN FRANCISCO, LOS ANGELES AND PANAMA,

NEXT SAILINGS

M.S. "LEXA MAERSK"

M.S. "SALLY MAERSK”

M.S.

"CORONA”

MS. "ANNA MAERSK"

M.S. "GRETE MAERSK”.

ARRIVALS FROM U.S.A.

M.S. "OLGA MAERSK"

May 15 May 31

June 14

June 4

June 23 July 24

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 26601-8.

STATES STEAMSHIP CO.

S.S. "COLORADO"

LOADING ABOUT 10th JUNE

FOR

VANCOUVER, SEATTLE & PORTLAND DIRECT

DODWELL

Agents

US Coke

CO., LTD.

Tel: 28021/6.

Industry

Heads Consumers Of Soft Coal

Cincinatti, May 13.

The increasing use of Diesel engines by the American railroad industry has resulted in a sharp drop in the industry's consumption of soft coal.

Long the Nation's leading All other industries used a users of soft coal-the raffroads total or 08,100,000 short (80,- fell behind coke producera in 271,000 metric) tons in 1950, 1948, and today they are also which also was approximately t:pped by the electric utility the same as in 1940, industry,

Retail dealers who sell coke to small

business concerns,

Diesels now handle 00 per apartment buildings, and pri eent of railroad pazsenger ser- vate homes purchased 80,000,000 vice, almost 50 percent of the shert (78,800,000 metric) tons in freight, and 60 per cent of all 1050. In 1910 they bought 90,- switching. About 98 per cent 200,000 short (82,082,000 metric) of the orders for new locomotans,

tives are for Diesels,

From a record of 155,800,000

short (141,778,000 metric) tons

THE CHINA MAIL, MONDAY, MAY 14, 1951.

Australia Buys Great Britain's Trade

Jap Iron

Toyko, May 13.

The Yowala Iron Mann- froturing Compatty han Rold some 2,000 tons of galvanised slicet Iron lo Australia and the Phdilp- plues for Junte August allpment, reports the Jiji frem, quoting Osaka trade circles.

pur-

Rellippines,

elsaken by the

contraels were

But

War

no Import Heences inued by the Philippines Government, the sources said.

The price in sald to be around $37

per ion, F.O,B. for No 20 sheet - United Press.

U.S. RAYON

Position: Exports

Short

Of

Estimate

London, May 13.

(FROM OUR OWN CORRESPONDENT)

Though the figure of British exports for April was a record, the first four months of this year point to our overseas payments not being securely balanced.

Last month exports at £241,000,000 were somie £34 million higher than in March, and £11,000,000 higher than in the previous record month of January. But our imports also rose in April-to over £311 million com- pared with £303 million in March, itself a record month.

Taking the first four months together our exports at £855 million were £166 million higher than in the cor-

SHIPMENTS responding period of last year, while our imports totalling

INCREASE

New York, May 13, Rayon shipments to domestic consumers in the Arst four

months of 1951′ totallest 426,700,- 000 pounds, an increase of 8 per vent over the same period last year, the statistival bulletin of The Textile Economies Bureau reports.

April shipments totalled 199,- 10,400 pounds,, a deeling of 3 per cent from the 112,900,000 pounds delivered in March, bul 7 per cent more than the 93,500,- 000 pounds reportext for April last year. The four months 16tal included viscose cupra yarn 111,500,000 pounds, viscose high tenacity yarn 104,800,000 pounds, aretatt yarn 195,800,000, acetaté Staple 40,900,000 and viscose Maple 63,790,000.

|

£1,159 million exceeded the 1950 figure by £345 million.

Sterling to find true equilibrium in the free market.

His reasons for doubting this are set out in an article in the The need to

Increase In Demand For

Petroleum

of

New York, May 13. Although consumption crude oil in the United States in 1951 is expected to be almost double that of recent years, twa leading American oil companies

target which takes into ac- Secondly, he believes forecast a yearly growth in

of

capacity.

But

and un-peg Sterling? He

The trade gap in April was narrowed to £70 million which, after allowing for the difference between CIF Financial Times. and FOB values of imports, restrict the flow of capital out represents an annual visible of the Sterling Aron, he says, implies that exchange controj deficit of some £480 million.

must

be continued in the near if invisible exports reach future, which in tura implies the Economic Survey's some restriction on the entry of estimate of £450 million-Sterling into the free market.

that a relaxation of the quantitative count- the extra money restriction of imports into the demand of from 3 to 4 per cent.

in the

next 10

10 years, expected from tourists in "outer Starting Area"-meaning

that most non-dollar countries- Current prospects аге Festival year-the position would do great good by reducing consumption this year will total 7,000,000 barrola (11.130,000 at the moment does not ap-claims un British manufacturing 7.08 pear to be too bad.

This would is il seriously hectoutres) daily. But our ability to keep exports proposed, he asks, that by one represent an increase of about at the Auril level over the rest heroic stroke the United King- 500,000 barrels (795,000 hecto-

litres)

over 1950

daily con- the year is in some doubt, dom should remove all import litr Some of the exports included restrictions (other than tariffs) sumption and about 1,250,000 in last month's total might have saves that such a move would over the 1940 figure.

be-barrels (1,687,800 hectolitres) been included in the March

Yet in the face of this great figure if there had not been ship-be unwise. Yet in what sense

would the free market enable increase in US, all demand, the ping difliculties during that Sterling to month. To that extent they do squilibrium if Import restrictions Jersey predicts that by 1860 find its "true" Standard Oil Company of New

U.S. petroleum demand will rise in production of export goods. Thirdly, he asks what would to

about

8,000,000 barrela Some part of the April.figure

many countries with

hectolitres) (12,720,000 happen if

dally. was probably due to price in-

balances at Sterling Economic frozes

present | The Sheli Oll Company forecasta crcases which the

dally

demand frozen were free to throw them ja Survey. Look into account as a

ranging into the murkol?

between 0,000,000 und 10,000,000 Mr Harrod makes his chief burrels (14,310,000 and 15,000,000 point on the

question of British hectolitres), by the end of the The annual rate of exports internat inflation. "When there's decade.

months;

Internal Geraany tears supers to the during the first four

inflation, whether open United States in the fire quar-however, shows that they stillt

fall sho of the Economicor suppressed a free exchange ter, delivering 21 per cent of

Survey's estimate by £200 market will

he says. "But this the spare capacities built up k will tend in recent years. Consequently, the 12 por est, United Kingdom 10 per cent and italy and Switzer Expectations. fand 9 per cent. Rayon filament

internal swaroves that the alt industry will nathing can be more yarn imports for the first quar- totalled 3,407,000 pounds, for compared with 145,000 pounds. the lowest figure since August 1950.

At the end of April, producers Glament yarn stocks totalled 1,100,000 pounds, Imports of rayon staple in March amounte:l

6,408,000 pounds, the lowest since April 1950. The cumulu- five finst quarter imports totalled 24,991,000 pountis, a gain of on per cent over the same perit or 1950.

not represent any actual

increase

factor in the balancing of our

overseas paymen13.

remain?

Current demand, fraco

the totai staple imports, France million while imports exceeded ourrency tend to undervalue sources say, is rapidly using up

Domestic production of rayon in the first quarter of 1951 totalled 326,200,000 pounds, only 1 per cent las than the record of 320,700,000 pounds produerd in the fourth quarter of 1950 and 8-12 por erit ahead of the Ane quarter of 1950.

First quartia prodation in- cluded high tenacity Viscose year-80,200,000-pounds, viscose cupru yara 83,800,000 pounds. acolate you', 81,700,003, viscose taple 249,500,000, acetate staple 230,900,000 pounds, United

Press.

Indonesian Materials

For America

Washington, May 13. The Indonesian Ainbasslor, Mr Ali Sistroamidjojo, said to day that his country is demand ing that rubber and fin prices

be maintained at least at the present level,

He also told the United Press, afler a visit to the State De partment, that Indonesia ex- pects capital goods in return for raw materials to the United Stales,

Mr. Sastroamidjojo spent on hour with the Assistant Secretary of State, Mr Dean Rusk and declined to say what was discussed,

of soft coal used in 1923, rail- US Bankers On charged

road consumption dropped to $1,000,000 short

(75,989,000 Visit To Japan

metric) tons, in 1930 and to 60,-

970,000 short (55,482,700 me- tric) tons in 1080,

The electric

of

But, he said, talks are con- tinuing on prices, that will be for rubber and tin for the Free World's rearma- ment programme. No decisions had yet been reached.—United Press.

Japanese Steel Output

undervaluation

increase

con-

•

Page

R. IL

ROYAL

INTEROCEAN~~ \\

SINGAPORE JAVA

FORT and MACASSAR "TASMAN" "TJIWANGI“

#TJIBADAK"

"VAN HEUTSZ"

"TJITJALENGKA"

• Now calling at Singapore

MANILA, EAST &

SOUTH AFRICA and

· SOUTH AMERICA

"TEGELBERG" "TJIKAMPEK" · "TJIMENTENG”

"RUYS"

JAPAN "TEGELBERG” "TASMAN" ***TJIKAMPEK" "TJIBADAK” "VAN HEUTSZ" "TJIMENTENG” "RUYS"

+ via Manila,

ARRIVALS

In Port £2nd May .24th May

15 June

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16th May 18th May 22nd May

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SAILINGS

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Late June Early July

SAILINGS

Early June

20th May

23rd May

25th May

Late Juse

31st May

MJ, JuRe

Agents: HOLLAND EAST ASIA LINE.

EUROPE via MANILA and MALAYA

"LANGLEESCOT" "ARENDSHERK!

to

• not calling at Mantia,

Through BS/L lasted Mediterranean and Northern European Poris,

JAPAN "LANGLEESOOT" "ARENDSKERK”

† via Manila,

ARRIVALS

IRI May

ARRIVALS ........ 18th May . 10th June

SAILINGS 20th May. 13th Jund

SAILINGS

24th Mart

KING STRUALDINGEFFELTERONE SKELBIU SITO Z2101792

NOTICE TO CONSIGNEES

CONSIGNEES PER AUSTRALIA-WEST PACIFIC LINE m.. "BRYNJE"

are hereby notified that their cargo Is being discharged into the Hong- kong & Kowloon Whart & Godown Co's godown, where it will be at consignees risk and subject to the Whart's lenns and condition of storage, and where delivery may bublained.

Journal of Commerce here be This suggests that the increase in the price of raw maleria) and

its prox It follows that Me Harrod re-have to expand producing food imports expected during

alid reflaing capacities 1951 has been under-estimated. while

jects the setting free of Sterling r more than had been

the

rearmament pro- Our exports in May will have to

10 malotain originally planned in order rise substantially

ксер above their gramme is bound

with pace

increasing some degree of Inflation. level if our overseas

civilian demand

Ta in the next STOCK EXCHANGE payments are to balance. This

few years. is a cardinal factor in provent-

The rise in industrial equities This expansion

current

to

Damaged packages are to be left in the godowns for examination by Consignces and the Company's sur veyors, Mesara Carmichipel & Clarke nt 10 a.m. on the 1st May, 1031.

comply with the General Bonded Warehouse Regulations. comalgnees must have a Revenue

dullable goods are examined.

ing inflation at home and so it continued this week though ac- led, the Jourani". will be requir❘ Officer in attendance when damaged ;

is a serious matter.

No Sir

in

for defence

points out, tivity in the Stock Exchange addition to the new reserve pro- THE BIF

was on a more moderate scale. [ducing and refining capacity of The world situation British we The most successful

continues 1,000,000 barrels (1,590,000 industries Fair ever

and held has uncompromising

one hectolitres) daily which the U.S. just come to an end. According server sees the ban on rubber Government has asked the oil

the shipments as "yet another move industry to build Hartley ShawerOSS,

of the late 30's.' new President of the Board of reminiscent

purposes. Trade export order exceeded The electricity cuts this week reminded Investors" of "the" dif- expectations.

Jikely to reappear next ficulties winter, and Mr Gaitskell's

at macks on dividends, hinting Government action if the

ENT restraint policy is not respected, acted like a douche of cold water on the Stock Exchange.

The full results of the Fair cannot be assessed for some time but certain signs are available, Most notable was the increase in the number of overseas buyers who visited the Fair and the number of genuine enquiries and Arm orders they placed.

Foreign buyers seemed

tha: consumer assume

reached their | 00

prices have noi

These adverse factors

were

to partially offset by the news that Mr Edward E. Wilson, American goods industrial mebilisation chict, has

the

JAPAN GETS

U.S. ORE

1

San Francisco, May 13. Iron ore from Nevada is arriving at San Francisco Bay for shipment to Japan.

A local firm has signed con- milla

prak. However; the number of returned to Washington with a tracts with three Japan home buyers at the Fair de-Proper appreciation of our row ereased and this suggests that material problems and also by to supply 100,000 tons of ore. retailers and the public have

results

of Dunlop Rubber, The Japanese companies are the been buying up their future

ure Morris Motors and others which Yawala Iron and Steel Company, of showed that proflis exceeded the Fuji Iron and Steel Company needs. in anticipation

and the Nippon Steel Tube "rearmamen!" shortages and did even the most optimistic ex-.

Company. not wait for the BIF. Home Pectations.

Between ·500 and 1,000 tons have also seemed to duffleulty in financing new stocks. restraint and demand was more Richmond Terminal in Rich

ocks but In

Investors exercised greater daily are arriving at the Port A third important trend was

buyers

Industrial shuros went ahead

the difficulty experienced once that last wee

selective than of late. Hopes mond.

you

peter out. This has recid

of

No claims will be admitted alter

the goods have left the steamer's down, and all goods remaining Undcilvered after the 17th May, 1951) will be subject to rent.

All claims against the steamer. must be presented to the Under- signed on or before the 24th May, 1931 or they will not be recognised.

No Fire Insurance will be effected.

DODWELL & CO. LTD. Agents,

Hongkong, 10th May. 1931.

The Hong Kong Countryside

Throughout The Seasons

by

$25

Second Impression

again by manufacturers of en in gilt-edged marked the end of ship. Canadian Bear, will begin The Pacific Far East Lines last week's partki recovery to promise [1082

to loading the first shipment in the decline failed in time to suit potential their long delivo products buyers who were there in plenty. materialize and prices have now last week of May.

drifted back to their

The former had to Indeed, many exhibitors

to levels.

first 200,000 tons are G. A. C. HERKLOTS

from the being obtained discourage buyers from placing

in commodities some signs Standard Slag Company erder's altogether. The explana have been read to indicate that Gabbs, Nevada-United Press. tion "Raw material shortages,

know"

Was heard

often. the price boom is beginning to Some overace buyers who had favourably in oll ehares which been sustained activity in cop- seen recent European trade fairs did not believe the excure.

had been rother

by pera due to reports that America Excellent business has been investors but

the hag agrood to pay Chilean copper done by textile fruns which is recent fall in the price of the producers three cents a pound not surprising since the factors have led to a "shake- Copper prices generally are ex

commodity and other adverse more than the present price. Kelly & Walsh, Ltd. Court soction of the Fair was largely given over to dis-out" and prices have been mark-pected to be raised soon to this playing British textiles at their ed down drastically to absorb new level. Tins were weak on

the deterioration in the Eastern S. C. M. Post, Ltd best. But there was also keen the wave of selling. domand for such consumer goods In mining sharos there has pion as toys, leather goods, pottery and hardware,

Orders placed by Colonial buyers indicate the increased demand which has accompanied the higher income from Colonial commodities. Hardware and cotton plocegoods seemed to be

after, the goods most sought afte

Anancial

PIE

in

On sale at

and

| HONGKONG & KOWLOON

Pacific Fur East Line Inc.

Fart Rogular Trans-Pacific Service

DIRECT

BAN FRANCISCO, LOS ANGELEI

Vessel

WILGLA

OVERLAND

NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL AND 'ALL AMERICAN & CANADIAN CIXIKS

Sails

For

EOD 250.000 short (80.307- Bess with the Japanese in the steel and Iron products, ac- |-HEO Tarned that

Honolulu, May 13. Two Now York banking off- Coke producers uped 103,000, clals stopped here en route to 000 short (03,730,000 metric) Tokyo where they will in-

1050 compared fons in

withvestigato the possibilitics 91,000,000 short (82,810,000 extending commercial credits metric) tons in 1949, 05- to Japanese industries.

STERLING AGAIN Conis, cording to Appalachlan

Mr Seymoun Deibbon, Vice-

More arguments on the Incorporated, an industry mar President, and Me Charles F.

Tokyo, May 13. revaluation of

ion of Sterling have re- kating agency. Coke is used to Richardson, Foreign Department manufacture steel, certain p

Representative of the Chemieni

cpr- The Japanese Steel industrycently appeared in the the chemicals and synthetic gas, Bank and Trust Company, sald during the 1850-51 fiscal year respondence columns of

utility industry the Bank has been doing bual produced 11.957 tons of primary Anan

The view hus before. re- past 10 months tons in 1950, com-

under SCAP cording to a survey by the In-

valuation, Sterling should be EDGAR LUCKENBACH” pared with 88,700,000

ternational Trade and Industry allowed to find its own level in short aantoo

Mr

"MATHEW LUCKENDASI” Dribbon said, "we have Ministry. (80,717,000

a free, market. metric) tons In treen extremely

plensed with

Mr Roy Harrod 1949. About 47 per cont of the the way the Japanese handled

blographer of "OKORGE LUCKENBACE" Output Included 2,433,000 John Maynard Key

Keynes and trim-ke Nation's kilowatts are generated themselves financially under tons of plg: tron, 0,207,000 tons self, a by_ezaf-produced steam,

the Occupations and

rovalustion."fas:a Cement manufacturers.

of steel: Ingots and 3500,000 recommends now commit; INDIAN BEAR" ne going there to renew our con- tons of ordinary steel (rolled). quick expedient seedily available? counted for 7,007,000 short (7-nots with a view to working Secondary steel

ond Iron to check inflation and to facilitate 105.370 metrio) Jong In 1950, with Japanese banks and the products during the period pur production and defence effort For fall particulary, sati United". Bisten Line Do, Deboral Agen ta, Queen's Trailding. Toi: ps196. about the sÉMO is their con- | Governments älter the SCAP 13: reached: 488,000 tons, the in the next two years." But ho sumption in 1949,

survey, revealed. United Pre does not believe in the ability of

gone.”—United Pros.

we are

.

ARTivis

un Franction San Francisco

Ban Francisco: Gas Francico

May 18

June 4

Jun 18

July 10

July (11.

May 10 ..

Jun. A

Jun 14

Bingapore, Diskarto, Dombay

de Karacht

San Francisco & Los Angeles

vis Japan

Singapore, „Djakarta, Dombay

Karachi

FLY

WATAN

P

TAIWAN

HONGKONG

A

S

SINGAPORE

2 FLIGHTS Weekly

Spry Franco & Los Angeles NORTH & SOUTH

via Yokoham