1951-05-23 — Page 9

R.I.L

ROYAL

INTEROCEAN

SINGAPORE, JAVA

PORTS and MACASSAR

"TJIBADAK"

"VAN HEUTAZ”

"EASTWAY"

"TASMAN**

TJTJALENGKA”

TJIWANGI"

ARRIVALS

24th May

.25th May

2nd June

, 17th June

• For cargo to Singapore only

4 To Singapore, Djakarta &Belawan Dell.

MANILA, EAST &

SOUTH AFRICA and

SOUTH AMERICA

"TJIKAMPEK" "TJIMÉNTENG"

"RUYS"

JAPAN

"EASTWAY"

LINES

SAILINGS

27th May* 31st May Gth June

22nd. June

ARRIVALS

In

Port

.In Fort

SAILINGS

12th July

18th July

SAILINGS

ARRIVALS

.26th May

THE CHINA MAIL, WEDNESDAY, MAY 23, 1951.

London Stocks REMARKABLE

Rally

London, May 22. Bear covering and in- vestment buying coine to the rescue of the Lunuton Hlook Exchange today after two gloomy sessions.

Selected Industrials, and minings scored modest gains. British Government bonds were slightly higher,

Financial Times' Index: 135,4.—Associated Press,

olls

HONGKONG SHARE MARKET

(From Our Correspondent)

the

Trading livened up un Stock Exchange this morning. the volume of business being valued at $310,000. Nun prices and the morning's transactions:—

SHARES BUTERS SELLERS BALES RANKS

12000 1325 30 1310

100

NK Bank

East Asia

"TASMAN"

29th May

"TJIKAMPEK”

10th July

"TJIBADAK”

24th May

"VAN HEUTSZ"

26th May

"TJIMENTENG"

8th June

INSURANCES

"RUYS"

28th June

Union XD

SHIPPING

Art Nav

700

I

DOCKS, ETC.

FAO K

25 700

1

450

3272

91023

† via Manila,

16th July

Agents: HOLLAND EAST ASIA LINE

EUROPE via MANILA

and MALAYA

"ARENDSKERK"

not calling at Manila,

Issued to

Through B/L

Mediterranean and Northern

European Ports,

•

JAPAN

"ARENDSKERK”

↑ via Manila,

N. P. Whart Dark

Provident

LAND, ETC.

UK Land XR S'hat Land.

UTILITIES

TIRI

Star Ferry

XD

3315 100 m hi 1:05

H

ARRIVALS

SAILINGS

11

12

.In Port

12th June

C. Light (0)

XD

5.00 0.00

Light (N)

XD

335 353

C. Light (B)

XD

315 500

Flectric

10).

J1.35

ARRIVALS

SAILINGS

- 10th June

24th May?

| SENINGS BUILDINGSSTELEPHONESTE235LZE1052801755

BCHINSKAGENTSSUB CONNAUGHT TË ROMËLZEN SEINA

S. A. C.

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

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

For full particulars, please apply:

Ceneral Agents: ́SOUTH-EAST ASIA-TRADING CO-ISIAM)—LTD.-

Tel: 24292 69 Connaught Road, West.

Peninsula Hotel, Kowloon,

Booking Agents:

Tel: 56416

AUW PIT SENG'S TRADING CO., LTD.

10, Pedder Street, Tel: 26733

CHIANG HUAT HONG

340 Queen's Road, West, Tel: 36204

Navy Not In Competition

THE RUBBER

MARKETS

Prices

London, May 22,

rubber fatures Los Angeles, May 22.

closed here today as follows:- Navy Under-Secretary Dan A Number 1 rubber, in cents

defended the per ih Kimball today

Military Sen June

July/September October/December' January/March

Navy-operated

Transportation Service and said

it is not in competition with pri- vately-owned

shipping.

American

Mr Kimball, in ̧ ed for a

iing

an address Maritime Day

of the Propeller Club, said: "Our experience in the little less than two years since MSTS was created has given us abundant opportunity to prove of the MSTS the soundness

P concept.

This

1

Hvered

in

43-4315

4232-43%

425-94

41-419%

1914-40%

-Unlied Press,

SINGAPORE MARKET

Singapore, May 22. Prices of rubber futures closed here today as follows:- Number 1 rubber, per lb

new agency lus de men, materials, food, Number"

petroleum and other supplies, Spot rubber. unhaled

the quantities required, to

the points where they have been needed. At no time has any phase of the operation in Korea been delayed because MSTS

deliver the did not Boods

Segments

of the shipping industry!! said Mr Kiraball. have criticised the Navy and MSTS, charging that some of

functions the MSTS coolly

bo fulfilled by private industry. Much of this critician I bellove tas ranted."

Telephone

XO STORES, ETC.

Daly

Wation

7500 2214

Wall St. In A

Timid Mood

New York, May 22. A limid stock market backed confronted down today when with only mild selling pressure. There was fairly substan- tial advance shown

an the books at noon, but the advan- Inge faded under the, erosive action of selling.

Was

This is the second straight decline and comes after Just

fall which

the week's greatest since the week ended July 1950, when the US.

2, intervened in Korea.

AL

no time Wan pressure severe, and the fall was widely scattered through rails, steels and oils.

Losses generally were under $2 while a few gains went as

high as $1.

Among stumblers were Hud- son Motors, American Airlines,

Nickel Pinte, Merck, Citi's vice, Colorado and Souther

Gainers

Includeri Northern,

Pacifle.

Five hundred and thirty- seven issues declined, 304 ad- vanced. Transfers were 1.440,- 000 shares.

Dow Jones Averages; Stock

ON UK

FIGURES

ACHIEVEMENTS OF SHIPPING INDUSTRY

The Demand For Tonnage Continuing

Remarkable figures bearing on the achievements of the British shipbuilding industry have lately been published.

At the end of the March quarter the order book totalled 5,002,000 gross tons. Of this total, 65.5 per cent was for British owners and 34.5 per cent was on foreign account.

Nearly two-thirds has still to be laid down. 'At March 31 last, 58 per cent of the order book was for tankers, the next largest proportions being 17.7 per cent for cargo liners and 12.3 per cent for car- go tramps.

three

For Cargo liners and cargo | ftably. employed

some

Ox years

more ahend. tramps have lately been

Holders of the company's stock ordered more freely. The

units should retain them, value of orders on hand and vessels under construction at March 31 last was £435,- 000,000.

was £70,200, after tax of £37,- 500, and covered the repeated dividend of 40 per cent on the 'small one-class copital of £150,- 250, moro

The than twice. distribution company's

polley has lately been exceptionally conservative.

The consolidated balance sheet dated December 31 Inst, is well

constructed. Reserves of CUNARD ACCOUNTS

£801,000 are several times the In his review of the 1850 ac-amount of capital in lasue, while Cunard Steam-current assets of £400,000 - counts of the Ship Company, the chairman.

clude £330,000 in cash. Capital Mr F. A. Bates, takes a cau- bommitments total £300,000, book In the first quarter of the tious line, The operating sur- however. The feet has year new orders received plus rosa. over the year, from value of £093,000 after deduc totalled 1,500,000 gross tons, a £1,805,000 to £10,781,000, butting depreciation of £184,000. figure not far short of the full says Mr Bates, indications based It will be increased towards the total for 1950 and more than on the results of the group for end of next year when the com- three times the 1949 intake. the first quarter

of 1931 are pany will take delivery of Figures such

tell that the operating ng these

surplus for new diesel tanker. eloquently of the efficiency of the whole of this year will be the yards and of the continuing | down On that of 1950. The henvy demand for

describes аз д

he past year and for tonnage, says special correspondent of the "penk" year. It was to this Journal of Commerce. Though warning that the market gave

supply most supply and

altention. Devaluation position generally hav

have never hrought the group passing bene- been easy, the shipbuilders com-t, but costs have so risen that mented work on 1,400,000 tons they and excessive taxation

the steel

NY Cotton Traders On

Defensive

a

in the 12 months ended March

are digging deep into earnings 31 last; they raunched 1,352,000 which should

be set aside for tous in that period, and com-

come the inancing of replacements. pleted 1,319,000 tons,

At the in this

connection, Mr Bates

New York, May 22. close of the quarter the gross points out, that to replace the tonnage under construction was

Cotton futures tried to rally 2.073 000. A steady flow of work group's fleet, the book value of but ran into 100 much opposi- which Is £28,724,000 after tion. Old crop July delivery depreciation, would now cost tended off pressure but new

£120,000,000.

crop months cased gradually. The past year's depreciation October delivery was sold down

is thus being maintained,

STEEL POSITION

MESSAGERIES

M

"BRIANCON"

ARRIVALS

MARITIMES

fromHaiphong

SAILINGS

M

PASSENGER/FREIGHT SERVICE

"FELIX' ROUSSEL” "LA MARSEILLAISE” "LA MARSEILLAISE"

"BRIANCON" "BASTIA" "AURAY"

to Marseilles

to Japan

to Marseilles

FREIGHT SERVICE

31st May

23rd June 11th Aug.

22nd Aug.

N. Africa & Europe 31st May, N. Africa & Europa 14th June „N. Africa & Europe 13th July for

FORT SAID, TUNIS, MARSEILLIES, ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK.. ANTWERP & ROTTERDAM.

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26851 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "SALLY MAERSK" M.S. "CORONA”

M.S. "ANNA MAERSK

May 30 June 14 June 30

ARRIVALS FROM

U.S.A.

June June 29

4.

July 24

M.S. "ANNA MAERSK” M.S. "GRETE MAERSK" M.S. "OLGA MAERSK”

a pound, the For Freights and Further Particulars please apply to:-

In view of the threat to U.K. | charge of £2,513,000 18 to chart readers' resistance steel construction by reason by |"notional" ngure, being based point of 39 cents of the shortages of iron ore and on the original, but now un-lowest for that delivery since of scrap, the question arises as realistic first cost. Tax, which Dec. 28. Other new crop to whether the shipbuilders will hos mopped up £15,000,000 of months hit the lowest level in be able to accomplish the duni group resources in the past four about six weeks. task of completing orders for years, took £4,018,000 last year

Recurring talk of a possible merchant delivery dage by reasonable and the net surplus emerged

peace in Korca, plus the in- and of playing at £3,478,000, against £3,502,- vourable tenor of the crop their

-part

in the rearmament 000. The dividend of 122 per news, kept recent buil traders programme. Here the point

cent, compared with

10 per on the defensive. still holds cent has been made, and still ascent Was thus covered by Aldener WDS further under- good, that the nation, for strate-earnings of 82.4 per cent mined by the slow demand for gie and commercial reasons, before pension

sion fund and other cannot afford

supplies.

starve the

arc

spat colton.

acr

Their con-

the reserve transfers.

Southern yards

reports said some and repair establish- Group finances

very

mills are still willing to seli ments of on economie supply of

Reservas strong

and The

their

stocks of raw surplus components, and carry-forward amount to £28,- steel, limber,

cotton at the colling price, so on. Tho industry should 715,000, compared with the

Textile mill executives won- therefore get its fair share of issued ordinary capital of

der whether the drygoods mar Current ossels of ket could £7,798,000.

operate under the The supply position will not. 31,014,000 include 27, and new celling price regulations. of course, be easy. But the 000 in cash tax certificates, builders and marine engineers, quoted Investments.

A group of merchants in Now Capital York unged the

Washington Price Controller to postpone date for the May 28 effective the new ceilings at least 30 days.

by skilful use of resources and commitments were £3,200,000 by the employment, where at the close of the year. Finally, necessary and possible, of sub- the fleet of 807,000 gross tons

valued stitute materials, by elasticity is moderately

in the

ELDER DEMPSTER

The Governmen! weekly crop was favour-

able.

The market opened 3 higher to 6 points lower. It seesawed tarrowly for a time, then hit the

AGENTS:

JERSEN & CO.

Pedder Building

Tel. Nos, 26661-3.

PATTISON ORIENT LINE

LIMITED

DIRECT

SAILING TO PUSAN

Due:

Sailing:

June 6th.

of gradual downgrade to Anish S.S. "LAURE PATTISON" June 2nd:

of method in yards and berths, books on a £33 por tan basis.

the Ingenuity which and by problems, will assuredly make overcome so many of their

The Elder Dempster group summary report trades wit West Africa und the best of the means it their Canada. The West African disposal.

Colonics prospered last year by At the end of March last reason of the high prices around

10 per cont

of the commodities, but group operat- labour force in private yards in Dr

around the lows for the session. Ing profits fell in 1950 from July closed up 1 point and naval work. was engaged оп

£3,146,000 to £2,331,000.

Re-

mother months were off 32, to 35 The percentage will substanti sults. are

com- not strictly ally increase in the coming

however, since

points. the

Spot months. Much of the addi parable,

balances are struck after ex- July Jabour required tional

will

differences, reserves, Oclober change doubtless come from shiprepair, and 42,03

provisions of unstated December whose activities -Associated Press,

have in some

15 amount. The dividend of centres fallen away following the completion

ading per cent, against 12 per cent, or near-ending on the one-class capital of of post-war reconversion and

£2,749,000, had 37 earnings deferred repair and survey pro cover of 75.1 per cent, so the grammes. Thus the shipbuilders, distributions policy thus remains given the steel, expect to be able to work out their merchant

order shipping

books while moiting their full contribution the Elder

20 Industrials

15 Railroads

10. Ulities....

00.34 240.30 78.10

Grain Price

On Up-grade

Chicago, May 22, Chicago wheat, influenced by export sales and prospects of early House

of the passage Indian grain bill, pushed up- were all day although other grain futures fluctuated before finishing generally higher. Wheat closed up 1 and % to

25%, soybeans were unchanged to down 2%.

Prices closed as follows:- Wheat-price per bushel.

230 2.3919-14 03075-24 2415-3 2.487-74

3.7472 6.704-24 1.72-1.73 0.7172-1.72 1.03-1.63%

2,00-2.00% 19315-24 3011-01 0212-1 July

New York four-per 200 117. Back, $12.70-United Free,

May June July Number May Number May

May

Black crepe

140-140

rubber

rubber

143-140 143-144

14534-1401 143-144

128-140

Spot toy July

September

December

Corn

Spot

303-154

May

110-138

July

No. 1 pole crepe

150-100

Beptember

-United Press,

December

NY MARKET

Rye

Now York, May 22.

May

Crude rubber: Spot No 1 rib. bed smoked sheets 66 asked, bed smoked sheets 60 asked.- Associated Press.

July

QAL

May

Could Pepper Market

been unwar-

"Wo of the Navy do not consider that the operation of the MlHary

Prees,

Cautious

New York, May 22.*

In the black pepper market Sea Transporta- buyers and sellers moved cauli-

at

art

I

to rearmament,

conservative.

SAILING TO NEW ZEALAND

46.00 nominal

45.74

S.S. "VALLES"

30.01-39.02

39.59

March (1062)

30,50

May July October

38.30

37.57 bld

25.07 bid United Press.

NEW ORLEANS MARKET

Spot

July

December March (1002) May July October

Like all shipping companies, October Dempster group is able to show a very strong financial position; the result of CAMMELL LAIRD

of long

dividend practice restraint. At December 31 last Since the Anancial year of rese totalled £10,749,000.

reserves Cammell Laird closed on De The fleet account of £7,399,000

expenditure 31 last, the cember

company (Including Iron and tonnage building) has received British

is 0 modest Steel Stock in exchange for its valuation, representing no more

of 410,873 preferred than holding

£27 per gross ton. The and 300,510 deferred 21 shares actual tonnage figure is 279,000 of English Steel. In all, with gross including further similar receipts for ex-1

on

Closing rate Mar 21,

4431

43.20

*38.80

38.43

33.48

30.42

37.23, bld

35.82 bla

United Pres

New York Sugar

Futures

0,02

New York, May 22, three vessels Domestic sugar futures No.G cach

tons. of 5,060

closed Bix to 17 higher. propriated interests, the com- Ouslanding commitments for July

Teptember £3,500,- new construction were pany will have received over new

the November Steel £7,000,000 of Iron and

000 at the year-end, when the May Stock. The market is naturally group held £3,084,000 in cash September anxlous to learn to what use and short-term loans, £1,838,- this large sum of compensation 000 will be put. No light is thrown оп this subject in the bccounts

the

for of

tho company calendar year 1050, but markel

liopes that stockholders

6.00

7.02-03

7.05 1924

5,50 nominal -Associated Press.

0.01 6.66 nominal 8.07 Domestic sugur futures No,3 in tax certificates, and dosed quiet with no antes.

World sugar futures No.4 £3,740,000 in quoted securities.

Col, A. C. Tod, chairman of closed four to 20 higher.

has July the Holding's company

September the valuable comment to make on March Cammell the year's figures and on trad-Raw Sugar spok Laird

will being experienco

and prospects. given some special distribution Very pertinent is his reference from the proceeds,

to the wastage caused by port Meantime the latest balance delays. They, with the all- of the company is around increase In operating sturdy document. Reserves total costs and charter

in the £3,483,000, compared with anja 20 per cent deste caused issued

liner one-class capital

result of the of voyage

riso The

in £3,050,000.

time shares in as company, The Gociated companies these in-charter rates, indeed, had the "considerable Totsco" clude

Metropolitan Cammel result that "co

Bome of the Carriage and Wagon are much were incurred on som undervalued,

current chartered ship voyages. Stock tirad

be glad of £18,078,000 include holders will, therefore,

to learn that an 0 in cash and £2,280, to

arrangement quoted securities, mainly has now been made with the shippers to allow the continuing

shoot

Exchange

Rates

Busker was done in the loen! tandfficial exchange

market

this

mang at the following rates:-

Sterling, note (per £1) *****

15.00

US, lern (per 41).

0.200

Indotsenin guliders (per 100)........

5.00

asocis

Star Me (per 100)

27.00

Shgapore (Straits)

3.73

000

1332

FIC pastra (per 100)

Bank Quotations

tion Service is in competition' | ously, apparently awaiting some with private owned American new incentives, Spot, supplies

Associated were quoted nominally flagshippingg."

around $103 a pound, with ten- etative buying interest in early

June arrivals indicated

New York, May 22,... Closing banks quotations! around $1.01 n peland on an ex-

Bank of America.. 27% bid, 281⁄2 New York, May 221). dock basis.

asked Closing forelan".exchange:

Bombay offerings

Chase Nationale, were report- Ioland

20.07 | ed light and“, running around Others" inchanged Awociated $1.00-1.02

pound, inchading National City

Exchanges In NY

cost, and freight. United Pron.

45%

askod

Associated Prem,

it-cdg of the company fan of chartweing for essential pur- |

Income lightly last

year.

from poses without loes to the coin- £1,200,000 to £1,105,000 but II OIL'AMIPPING there

was left a not-pront of Tile Intent accounts of the £405,000, after tax of British Oil Shipping Company 000, which amply covers the dividend of 12 per cent, against cover the calendar year: 1960,

and make a antiatactory, aliow 75 per cent.

The company has work in | Ing...

Profits

ware virtually, hand and In project which maintained at 12100, 400, com- should keep it fully and pro- pared with "£170,000. Net profit

loading, second

week June with

transhipment cargo accepted for TAHITI, FIJI, SUVA and PORTVILA.

12-14 Queen's Road C.

Chinese Agents:

Tel: 25346,

Oversea Chinese Steamship Co., Ltd. 48 Bonham Strand W.

NOTICE TO CONSIGNEES

"PYRRAUS" Damaged cargo ex til vansel will bo mustreged by Meme. Goddard & Douglas et · Holt's Wharf froETS 16 am, on May 26 and 25, 1951, and corsignSER

wee requested to tave their representatives present

during the survey.

BUTTERFIELD & SWIDE, Agents.

Hongkong May 23, 1081,

Tela: 25646, 26127 & 31119

St. John Ambulance Brigade

FREE AMBULANCE

SERVICE

35035 Tel. Hongkong

Kowloon 52222

Pacific Far East Line, Inc.

Fast Regular Trans-Pacifio Servico

BIRKUT SAN FRANCISCO, LOS ANGELES

OVERLAND

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

Fox

San Francisco & Los ÁngilM,

Singapore, Djakunta, Bombay

Be Karschi

"MATHEW - LUCKENBACH”

-"GRÖRÜB LUOKENBACK"

"RDOAR LUCKENDACH”

From

Ban. Francisco

Ban Francisca

diratta

Arrives

Balis

Jun 8

Jun, 13

July 10

Jun.

7

Jun. 14

July 17

San Francisco &. Los Angeles

vin Kobe, Negoya de Yokohama

fill particulate cati, United, Bisten Line Co., General ́Agents, Queen's Building, Tel: 2519h //