1951-05-16 — Page 9

THE CHINA MAIL, WEDNESDAY, MAY 16, 1951.

MESSAGERIES

M

MARITIMES Selling

Wave On

M

ARRIVALS

"LA MARSEILLAISE” from Japan

SAILINGS

PASSENGER/FREIGHT SERVICE

"LA MARSEILLAISE" "FELIX ROUSSEL,”

"BRIANCON"

"BASTIA"

"AURAY"

18th May

to Markelites via Manila 10th May to Marselles

23rd June

FREIGHT SERVICE

N. Atrien & Europe 24th May N. Africa & Europe 18th June ‚N. Africa & Europe 13th July

for

FORT BAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

CIE DES Messageries MARITIMES Queen's Building

Tel. 28651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "SALLY MAERSK”

M.S.

"CORONA”

M.S. "ANNA MAERSK"

ARRIVALS FROM U.S.A.

M.S. “ANNA MAERSK”

11.S. "GRETE MAERSK"

M.S.

"OLGA MAERSK”

May 30

June 14 June 30

June 4 June 23 July-24

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 20601-8.

S: A. C.

Every TUESDAY is SAC DAY to BANGKOK and DIRECT FLIGHT to RANGOON

BANCKOK/PENANG & SINGAPORE ON WEDNESDAY BANGKOK/RANGOON & CALCUTTA ON FRIDAY

For full, particulars, please apply:

General Agents:

SOUTH EAST ASIA TRADING CO.

69 Connaught Road, West.

Peninsula Hotel, Kowloon.

Booking Agents:

(SIAM) LTD. Tel: 24292 Tel: 56416

AUW PIT SENG'S TRADING CO., LTD. 10. Pedder Street, Tel: 26733

CHIANG HUAT HONG

340 Queen's Road, West, Tel: 36204

Economy Drive In Hollywood

U.S. Increases Cotton Export

Allocations

Washington, May 15. The Agriculture Department today increased by 10,000,000 pounds the overall export allò- cation for all types of soft cot ton wastes for the April-July period.

New York, May 15. Twentieth Century Fox Film Corporation called on its 130 top executives today to accept

The increase brought to 27,- voluntary Day cuts ranging 500,000 pounds the total export

allocd'ions for the four months. from 25 to 50 per cent.

Cotton wastes ate a by-pro- the Company's duct of textile mills and are Pointing to reduced earnings

year, used

mainly for cleaning Spyros Skouras, President, told machinery. the annual meeting sweeping

Omciale sald stocks in execas economies will be effected, of

of domestic demand accumula- which the voluntary pay cuts

ted in recent months will be a part.

result of higher consumption of raw cotton by mills.-United

last

He said the salary reductions, Press, which will go into

effect on

July 1, are exported to result

Ds D

in a saving of $2,500,000 over Red China Cuts

a period of 2 years.

Actors have not been in-, cluded in the plan, but Skouras said similar co-operation wil be sought at a later date from the stars and their agents.

Cement

Prices

San Francisco, May 10. Peking Radio reported last night that coment· pricón in China had been eut from 10 10

Skouras told stockholders an 30 per cent below last year's "under-inflation" of motion ple- | level becauser of a great expon- turu salaries: developed during slon in output, and a big, In- the last war. He also acknowt added that cement output

ergase in sales this year. dadged inroads made by telivis last year rose to more than

alon.-Asscalated Press.

double of 1949,-Boular.

Wall St.

Stock Market Takes Severe Beating

New York, May 15. The stock market gave way today before a selling onslaught that forced prices down by as much as $5 to $6 a share.

than $1,500,000,000

the quote value of all listed stocks,

Selling pressure reached penk shortly before noon that was 50 intense 1 pui the ticker tape four minutes behind in reporting business on the floor of the stock exchange,

The congestion lasted about 30 minutes. and thereafter trading progressed at an order- ly pace.

The loss amounted to more

No single cause for the rush to sell stood nut in the opinion of brokers. It was an accumu Iation

of developments, all bearishly interpreted, that bore down on sentiment.

These items were cited: The State Department fell i necessary to say it knew of no peace feelers from Red China or

Korea.

The House Ways and Means Committee voted to add another half cent to petrol taxes.

Eric Johnston, Government Stabiliser, asked for a national crackdown on rising profits in the light against inflation.

Eight hundred and ninety- four issues declined, only 110 advanced..

The number of new lows ruse sharply to 84, and there wbre only seven new highs for the

were

year

There were no plus signs in the list of 15 most active issues, Nickel Among losers Plate, Santa Fe, Cilies Service, U.S. Gypsum, Douglas Ariecraft, Barber Oil, Dixie Cup, Interna tional Silver, Universal Labora tories,

bries, RKO Pictures, Benguet totalled 2,020,000

Mine.

Transfers

|

CONTROLS ON PROFITS ASKED BY U.S. ECONOMIC CHIEF

Washington, May 15.

Mr Eric Johnston, Director of the Economic Stabilisation Agency, today asked for powers to enforce controls on profits.

He told the Senate Banking Committee that there were six major threats to a "sound dollar" and he laid down a six-point programme for flatten- ing the inflation spiral.

we

"Unless we huve u slabilised economy,

unless we hold in- Sation in check, We cannot mount the

defence effort need," he said.

Mr Johnston outlined there xfx threats to the “soung dollor." The expected spending of $1,000 million a werk defence Inter this year.

High profits, price and wage demands.

3,

on

HONGKONG SHARE MARKET

Rising food prices, --se scare buy-

Business done

on the Stock ing and

when coll. Exchange this morning Waj sumer shortages appear.

valued at $118,945: The mom-

5, Break in the presenting's transactions and noon pence between Jabour and em- prices:-- ployers.

SHARES DUYERN SELLERS SALES

HK Bank

0. Goneral unwillingness | BANKS to recognise the existence of a national emergency.

THE REMEDIES

He proposed . that Congress should provide these remedies: 1.Pay us we go" taxation to take spending money out of circulation.

2.-"Pay 13. We Ko" credit

policies to avoid credit which "merely allows more people

and more business to blå för a tightening supply of goods,"

-Increased savings. 1.-General economy-"non- essential essential consumption and Government, busines waste by and individuals must be

eliminated,"

-Materials control the allocation of materials for both tiefence and civilian needs, with the production of luxuries limited to what is left over,

G-Strengthening and con- tinuation of direct control.

Mr Johnston

the called for removal of the $10,000 limit un fines

of the agulnat violators

He Defence Production Act. 42,35

said that the present limit was an invitation to try to get away with bigger pickings. Reuter.

shares,

Dow Jones Averages:

Stocks

91.93

20 Industrials

15 Rultrouds

252.06 80.72

10 Utilities

-Associated Press.

Sydney Wool Sales

Sydney, May 15.'

Copra Nominal

East Agla..

INSURANCES

300

Underwriters 3.25 SHIPPING

Asia Navy DOCKS, ETC.

LAND, ETC.

Itk Hotel

S'hai Lamal

NY Cotton

Market Drifts

The

New York, May 15.

cotton, market closed with minor price changes after twisting within a narrow limit Orleans professional operators on both sides were trading against the New York and New Orleans differences or attemp- ting to scalp a few points either way

In slow dealings. Local and New

The situation in the recently expired May delivery came back into discussion while the mar- ket drifted. There was guessing as to whether penalties would

be imposed on the shorte who

failed to make delivery.

R.I.L.

ROYAL

INTEROCEAN

SINGAPORE JAVA

PORT and .MACASSAR "TJIWANGI" "TJIBADAK" "VAN HEUTSZ" "TJITJALENGKA" "TASMAN"

MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA **TEGELDENG“ #TJIKAMPEK” "TJIMENTENG”

·"RUYS"

JAPAN #TEGELBERU" ""TASBIAN"*

**THIKAMPER” "TJIBADAK"

The market opened points

to. 8

ints higher with lively firm. But shipper

July

rola-

"VAN HEUTSZ“

de- mand for July tapered off and drifted the market thereafter

"TILHENTENG"

"RUYS"

off irregularly in company with the weakness in the stock mar- ket. I finally closed I lower to 1 point higher,

30.59

30.08

NEW ORLEANS MARKET

† via Manila,

Agents:

Prices closed as follows;-

.. 1319 1560

30 7 1330

Spot

40.00

Miny

July

October

December

1

10,500 1.00

March (1952)

30.01

May

38.67 bid

K. What

73

July

38.48 nominal

N. P. Whoet 4.00 Provident

Gelüber

38.30 nominal

-United Press.

1014

Yangts

4000 2.80

600 2.80

Closing rate

May 10.

•

0%

HK Land XD

Spot 3119 100 m 3115 | Jay

44.01

45,16 bid

UTILITIES

Trom

1.30

11.25

•-

Star Ferry

Dotober December March (1952) May

39.47

33.97

0.00

Хр

52

Dotober

36.37

C. Light (0)

XD

6.73

400 5,75

хр

2.30

Electrio

Telephone.. INDUSTRIALS

Comment

Di

10

100 m to

Rope STORES, ETC.

Dairy

114

2000 et 13

Watson

17

4

10 G

200

Wing On

(HK) COTTONS

סיאנו

United Pies.

Grain Prices

2214 1000 Grain

1000 L 23.43

The Rubber

ARRIVALS

In Fort 22nd May .24th May. 1st June

ARRIVALS

17th May

18th May

. 22nd May

ARRIVALS

. 20th Mixy

.Early June

LINES

SAILINGS 18th May

6th June Early June

SAILINGS 18th May

Late June Early July

SAILINGS

-20th Mart

23rd May

25th May

Late lune

31 Mart

Early July

Mid, June

HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"LANGLEESCOT"

"ARENDSKERK”

•

not calling at Manila,

10

Through Ba/L lastel Mediterranean and Northern European Ports,

JAPAN

"LANGLEESCOT" "ARENDSKERK"

† via Manlis.

SAILINGS 21st May*

ARRIVALS

. 20th May

12th June

ARRIVALS ........ 20th May

... 20th June

SAILINGS

20th Mayt

SEKINGS BIEDINGELEPHONESEgan ID 117

In Chicago M.V. "LA MARSEILLAISE"

Chicago, May 15.

Prices of grain futures closed

here today as follows:-

Wheat-price per bushel

2.44-3

Spol

2.40

Riny

2.40

July

2.43-14-%

September

December

2.47-44-14

Corn

Markets

Spot Moy July September December

1.78.31 3.70

3.76-4-14 1,70

1.08-12-2

London, May 15.

Prices of

rubber futures

May

July

OLE

May

per Ib.

-3939-45-

July

པz-ཡི་k-i

4416-45

44-44%

New York, May 15, Prices of Merino made some

Dealers quoted copra nomin-losed here today as follows! recovery at the Sydney woul sales today compared with the ally today at $212.50 per short Number 1 rubber, in cents previous day when there was a ton, C.I.F. the Pacific Coast. June

Come- Cocoanut oll was offered again narrow drop in price. backs were unchanged-Asso- at 10 cents a pound asked.-- cinted Press.

United Press.

US Urged To Back

Unions In Free Backward Areas

Washington, May 15.

In its report to President Truman, the Inter national Development Advisory Board recommends the continued encouragement of free trade unions, as a means of opposing Communist infiltration and raising living standards in under-developed areas of the world.

July/September October/December January/March

417-42 -United Press. SINGAPORE MARKET

Singapore, May 15

rubber futures closed here today as follows:- Number 1 rubber, per Ib.

Prices

May

June

July

Number 1-

May

Number

May

Number

May

میری

rabb:

rub

Spot rubber, unbated

Black crape

No. 1 pale crepe

2.01-1

1.97-1.00-7

¡BT-34-15

New York Hour-per 200 lb. rack. $12.90.-United Premi

New York Sugar Futures

New York, May 15. 24733-3481% 14446-14945 World sugar futures closed 1419-1424 | here today 1 to 15 points lower,

sales totalling 78 145 -14815 with 14216-14415

1374-1301

152-1631

114-115

155 -103 -United Prom.

com

tracts,

Contract No. 6 closed, heno today 4 to 8 points lower, with sales totailing 154 contracts Prices closed as follows:-

Contract No. 4 (world)

STOCK MARKET Spot

PETITION

New York, May 15. Backers of ឌ movement to

force a referendum on Saturday closing of the New York stock exchange today said they had

vote.

advice from U.S. trade unions. LONDON TIN

May July September

0.44 traced

0.44

5.35

0.30

Contract No. 6

July September Spo

6.81 traded 5.85 bid 6.05

United Press, Boston, May 15. Rovere Sugar Refinery today

anounced a 4 cent per pound increase in prices effective on Wednesday, except for wrapped tablets-Associated Press,

4

Bank Quotations

New York, May 15: Bank quotations:

... 21% bid, 2014

will sail for

MARSEILLES

Via

Manila, Saigon, Singapore, Colombo, Djibouti and Port Said.

on

Saturday the 19th May 1951 at Midnight

Passengers are requested to board the vessel with their cabin baggage on Saturday the 19th of May between 5 PM and 7 PM.

Baggage Room and Hold Baggage will be registered at Kowloon Godown No. 50 (No. 2 Gate Canton Road, Entrance) on Friday the 18th of May between-2 PM. and 4 PM and Saturday the 19th between 9 AM and NOON Imperatively.

No baggage will be accepted for registration after this time.

CIE DES MESSAGERIES MARITIMES Queen's Bldg.

Tel: 28051 (3 lines).

NOTICE TO CONSIGNEES | NOTICE TO CONSIGNEES

Consigneer per

"DENVENUE"

are hereby, notified that their cargo is being discharged into the Hong- kong, & Kowloon Whart & Goldawn Co.'s godown, where it will be at Consignees wide and subject to the Whart's terms and condition of storage, and where delivery may ha obtained.

Damaged packages are to be left in the Godawns for examination by Consignes and the Company's eur, veom Mesma Carmichael and

Clarke, at 10 min., 17th May, 1951.

Baked

anked

To

National City.... 44 bid, 10 asked.

Associated Press.

NOTICE TO CONSIGNEES

The Board was appointed by the President to enough signatures to take the review the objectives of American economic aid to question to the membership.

The petition may be presented the under-developed countries in relationship to to the Board of Governors soon national security and the defence of the free world. as a prelude to a membership It is composed of private citizens representing all The petition proposes amend- sectors of American society, including organisedment of Article 18 of the Ex- Bank of America

change's Constitution to provide Chase National ...... 30% bid, labour.

closing of the exchange all year Infiltration. while on Saturdays, except under ex- The Board's report makes the Fascist

better the lot of traordinary circumstances.—As- following recommendations on striving to

In this labour's role in the US, inter- their members,

they sociated Press, national development pro- have been alded with funds and gramme:

Advisory Board recom- "Throughout the under-deve The loped

the continued en- objectives mends

of froe should not be to 'mine and get couragement out, but to strive for a balanced unions in the under-developed

London, May 15, economie development which areas.

miket improved will

lay enduring base for

somewhat nt the morning continued economic progress.

"Over the last three decades session. Turnover was 40 tons, development pro- "These

recognise the the International Labour Organi. all on forward contracts. gammes should reco

Prices closed at the end of atay, 1951, and expansion of all salon (HO) has developed a need for an

They number at conventions and re- the official morning session assent during survey. Industry types of local

for desirable | Yollow- a full share commendations should give workers

labour standards, especially spot tin, buysEW in the benefits as quickly as

framed or under-developed spot sellers possible.

Advisory Board Busine done at "That is not stressed merely areas. The out of sympathy for the people endorses these ILO fair Inbour Three months in, buyers... in these countries, but in realis-standards as a guide for mini-

mum labour standards in

arcus our

an

COMMON. STAKE *

trade

IMPROVES

The

tin

M/Y "CHANOSHA" Arrived 11th May, 1951 Damaged cargo ex this veel will be surveyed by Mears, Goddard & B Rowoon Douglas at longkang Wharf from 10.00 m, ea Wednes day, 10th May, and Thursday, 17th consignece repre- scriativom are requested to be pre-

1,110 1.120

BUTTERFIELD & SWIRE, Aguris, Australian-Oriental Ita. China Navigation Co., Ltd.

1.000

The the altere done at the Settlement

In the ultimate sense, all our

1.094

1,000

1.125

riented Prem.

Rates

tic awareness of what the Unit-under-developed areas. ed States is trying to do.

The

experience of workers and shape for continued co-operation Exchange ployers in the United States has with the free peoples of the shown that proper labour-man-

must rest upon our reulis- world highly agement relations are a valuable rational st

"Improving the standard livine

of the people of the under-developed areas, is a Anita strategle US, foreign

grievances are vo

de-

ing that we all have a common Bunton was done in the local

market 1h3 stake in the future, or that unofficial exchange

morning at the following rate: senso of being in it together in sering note, (per 4!) .... to be genuine and lasting it 1, dollers (per #11.

CONSIGNEES PER

AUSTRALIA-WEST PACIFIC LINK

m. "BRYNJE"

are hereby noticed that thair cargo is being discharged into the Hong kong & Kowloon Whart si Godown Co's godown where it will be at consignees risk and subject to the Wharf's term and condition of riorage, and whwco delivery may ba obtained.

Damaged packages are to be left- in the godowns for examination by Consignees and the Company's 107- vayors, Marera Carmichaël de Clarice

comply with the Generaat 10 a.m. on the 10th May, 1951,

"Warehouse Bonded

Regulations. Consignees must have a Revenue Omeer in attendance when damaged dutatile goods ara, examined.

No claime will be admitted after the goods have left the steamer's godowns, sixi all goods remaining undelivered after the 1ših May, 1931, will be subject to rent.

All risima against the admirer must be presented to the under #igned on or before the lat June, 1951, or they will not be recognised. No Fire Insurance will be effected,

W. R. LOXLEY & CO.. (CHINA) LTD. Agents,

Ben Line Steamers, Ltd.

Hongkong. 14th May, 1931,

To comply with the General Bonded

Warehouse Regulations, consignees must have a Revenue Officer in attendance when damaged dullable goode are examined.

No claims will be admitted after the goods have left the steamer's rodown, and all goods remaining undelivered after the 17th May, 1931, will be subject to rent.

All claims against the steaner must be presented to the Under- signed on or before the 24th May, 1981 or they will not be recognised.

'No Fics Insurance will be effected.':

DODWELL & CO. LTD. Agents.

Hongkong, 10th May, 1951,

Pacific Far East Line, Inc.

Fast Regular Trans-Pacific Serviço

DIRECT

16.33 6.100

SAN FRANCISCO, LOS ANGELES

5.00

OVERLAND

NEW YORK-CHICANO DETROIT-TORONTO MONTERAL, AND ALL AMERICAN & CANADIAN CITIES

For

$7.00

3.700

13.00

'Artiven ·

Balla

improving Exchanges In ↑

NY

EDGAR LUCKENDACE"

Ban Tranelico

į"MATHEW LUCKENBACH” #GEORGE ZUCKENBACHY!

"INDIAN DEAR“

Bari Franekseti -

fan Trancijom

San Francisco

May 20

June J. 13 (July 10

Mary

Jun

| Ringspore," Djakarta, · Homi

Karachia

Fly 12

must be shared by all segments donde mildere Took 100)

Bem (pse 100) of lot the population. That Amerion's

•has TIC patron (per 100) own experience has inpore (Balta) being shown that the surest guarantee by subversive forces of polit exploited

political

.and orderly hardly needs--oladoration.

Programs boots par standard of living, a Soviet agents have Heularly diligent in efforth to the word

New York, May 15, improving' rather iban

Closing foreign exchange: propagandise and control in- better living?^ More · Important

1.98 chanarial and eural'wrkore. then the par Soular, loval of itvin Belgium

20.30 under-developed

The free trade unions, in the which may prevail as any ions, Holand

29.11 areas have time is that things should be Switzerland done praee-worthy job in getting better, Hope is really our Others, unchanged. Associated

Frem ‚ of....... Communist and I strangest aligns lighting spọ

Singapore, Djakarta," Homobay

Karachi

THIS TYRICING & Los Anguiss

Ban Trancisco # Lóa Ang

For full-paxifonlara/call-United Bistes Line Co. Genest Agais, Queen's Buliding..Twit