1951-05-29 — Page 9

ون

-

Page

R. I. L.

ROYAL

Dale

In Pot

INTEROCEAN

Hhip

ARRIVALS

"VAN HEUT:2"

TIMENTENG"

In Port

"RUYS

1

Port

29

Muy"

2nd June

“TJITJALENOKA"

17th

June

10th July-

"RUYA"

29th May

30th

May

Eth June

22nd June 2431

181 July

Date

Early June 11th June Early July

Mid Jane 1216 June Early July

"TARMAN"

--THWANGT”

"VAN HEITSZ"

"TASMAN"

LINES

From

%%. America, S. Africa & Singapore,

H. America, S. Africa, Singapore &

Saigon.

Macassar,' Java Porte & Bingapore, Зарап.

Macassar, Jaya Potts,

Macassar, Jaya Porta & Singapore: Japan.

SAILINGS

Sapan.

**TJITJALENGKA"

"TIMENTENG"

"THWANOJ“

"RUSA"

"RUYS"

Agents:

Ship

Та

Singapore, Djakarta & Dafawan Dell Singapore. Java Ports & Macassar. Japón via Manila.

Singapore, Java Poris & Muesstar. Japan,

Manila, Singapore, S. Africa & R.

Numerica

HOLLAND EAST ASIA LINE

ARRIVALS

"KIELDRECHT" "ARENDSKERK** PRIEIDRECAT"

"KOELDRECHT" PATLEEN 1981CELIC “KILDRECHT“

From

Encope & Slogapore

Japast.

Japan.

BAILINGS

To

Japan via Manka. Manila, Singapore & Europe, Manila, Singapore & Europe,

AKINGSEBUILDING TELEPHONESÆ280152T0228017

SOLSENGAGES OFERECONNAUBIOZROADZCZIUNGIGAUZ

Rising Newsprint Costs "Kill" More British Papers

London.

The mortality rate of British newspapers has reached a peak as a result of rising newsprint costs,

Arash of suspensions and mergers in the United Kingdom, and in the Sterling Area as far as Aus- tralia was announced as a new £10 per ton boost for Scandinavian paper imports was disclosed.

Trade circles reported that Venstreblad, stopped publica representatives of the Publishers tion because of increased new- Newsprint Co-operative, negotia. sprint cost. ting in Paris with paper sellers

from Sweden, Norway and Fin-

land, reached agreement on

3

£10 per ton price for imports to Britain during the second half of 1951.

The new price is said to in- clude the export taxes on news- last month by

print levied

Scandinavian Governments,

In Britain, the

Axminster

and Lyme Regis Clarion sus- pended publication owing to

the

Agreement On Newsprint

THE CHINA MAIL, TUESDAY, MAY 29, 1951.

Cautious Air

In London

London, May 28.

The report by the U.N, economic commission say- Stig the British Pound should be revalued caused some buyers to adopt a wail-and-sea attitude.

on

the London Stock Ex change today.

British Government bonds nhed early gains during the afternoon, Small de- clines predominated among Industrial and ell shares.

Gold and copper 'issties drifted lower.

The Financial

Index:

Уген.

Times'

130.8.-Associated

Continuous

Mining Machines

Pittsburgh, May 28. Mechanical devices are being

in the United States flint mine soft coal In less time and at lower cost than conven- tional methods require.

The volume of soft coal mined by these so-called extinuous mining machines in 1950 was about 4,000,000 short (3,040,000 metric) tons, or approximately times the amount

they mined in 1949. In 1951, they more are expected to mint than 14,000,000 short (12,740,000 metric) tons.

four

re- the

Ordinarily coal mining four processes al

the mino-cutting, of drilling, blasting, and loading The continuous mining machines cut and load the coal in one operation and

climinate need for drilling and blasting.

The first machine, developed here three years ago by the Joy Manufacturing Compuny, was

the

put into service in an under- ground mine in this State. The has about 110 company now machines operating in', 50

mines.

Its machine has a flexible ripper bar which is driven into

the coal at the base of the seatn. Moving upward, the bar rips the coal out and in the

wanc

motion discharges it into a con- veyor that transports it fo hopper.

The continuous mining machines

have demonstrated that under suituble-conditions they can triple production and reduce costs by 30 to 50 per gent, according to The Walt Street Journal. One machine made by Joy Manufacturing Company averaged more than

chart (282 metric) tons of soft coal per shift of five, men, or more thun 60 short (54.6 moiric)

tons per man. This compares with the output by ordinary methods of about 20

metrie) lons short (18,2

рег

Other manufacturers have slightly different developed types

continuous mining machines that do the same-job-

man. Montreal, May 28, Lord Layton, Chairman of the British Newsprint Supply serious and uncertain | Company, announced today that position of paper stocks and agreement has been renched future supplies."

with Canadian newsprint mills Gosforth Guzelle alot programme of supply to Gosforth, the Dufftown News at Great Britain during the next Banffshire, and the Ulster Post three years,

The

at Belfast, all weeklies--also

The agreement had been con-

ended publication during thecluded within the framework of week.

In Colchester, the 93-year old Essex County Telegraph merged with the 120-year old Essex County Standard, as did two other old-established weeklies, the

Buxton Herald and Buxton Advertiser.

Earlier,

weekly Perthshire Constitutional and Journal ceased publication due "the rise in cost of newsprint and general costs of produc- tion," and was acquired by the Perthshire Advertiser in Perth, Scotland,

10

the

same

"FOR, FEW YEARS"

Britain's long-term which extend to 1958.

contracts

Lord Layton gave no indica- tion of how much newsprint is involved in the agreement. He left by air for New York Inime. dintely after issuing his state- ment. Associated Press,

New Steel Process

Washington, May 28:- Scarce metals needed for the In South Africa, the import- United States defence

production ant Afrikaans paper Die Volk-programmes are being

suspended, because of by the manufacture

of "c

LONDON TIN FIRMER

London, May 28. The market opened Arm- er. Turnover was 90 tons, in- cluding 10 tons for each.

here Erices closed

at the end of the official morning session os follows:- Spot Um, Buyers Spot tin, sellers Business done at Three-mopthr¬tin.

buyers

Three months in

sellers Business done al

Settlement ............

1.147

1,145

MESSAGERIES MARITIMES

On

M

Western Germany

Way Back As Major Maritime Country

Hamburg, May 28.

Western Germany is on the road back to a

place among the world's leading seafaring nations. NY Cotton

With the post-war occupation shackles finally lifted from her big shipbuilding and shipping in- dustry, Western Germany hopes to raise her ship- ping tonnage from 750,000 to 1,000,000 tons within the next eight months.

That would be almost one fourth of all Ger- many's pro-war tonnage, which then put her in fifth place in the world list, behind the United States, Great Britain, Norway and Japan.

The

lust

remaining

restrictions on West German

shipping and shipbuilding HONGKONG

were lifted on April 4 by The Allied High Commission. The Allies still retain overall control of the capacity of the¦ shipbuikling industry inj general.

This notion was hailed by the West German Government and Shipping circles as the begin. ning of a new ori,

Homburg celebrated by dressing all ships

SHARE MARKET

(From Our Correspondent)

A liveller tone was evident on the Stock Exchange

and

this

Again Plummets

New York, Moy £8. Cotton futures today plum- mated as much as $2.45 a bale on liquidation and hedging operas tions. The market opened 8 to 14 points lower and closed 28 to 47 points lower.

Rallying tendencies were dis- couraged on. the sell-off. The favourable tenor of the Korean war news and weather reports Blong with pessimistic сгор Ideas continued to shape market sentiment. The unfavourable consumption showing for April, indicating that the season's total may fall below previous trade ideas, also helped to shape the market trend.

Many held to the Bidelines, awaiting the mid-Max cotton parity which is scheduled for Issuance on Tuesday. The price is expected to be a slightly high- theer than the 33.73 cents a pound

posted in April.

in the harbour with dogs aud morning, when business smount- Riving the children a holidaying to $369,128 in value was

Noon prices from school,

done. morning's transactions— SHARES BUYERS SELLERS BALEB DANKS

K Bank .. 1030 1350 180 1340 INSURANCES Union XD

720

710

DOCKS, ETC.

Hamburg's Lord Mayor, Max Brauer, a. former German-born American citizen, described the ction as "the most decisive step German toward freedom and equality." He predicted that shipyards would now be flooded with German orders.

But shipping boates complain that the removal of controls came a year too late. They say that a year. ago, for example, they still had some foreign cur- rency from Marshall Plan aid to satisfy the most pinching ship shortages, And they say that

the past six months thel: shipyards have been clogged with foreign orders, This forces German shippers to line up at the end of the

N. Pt. Wharf 4.20 XD

Dock

Wheelock

S'hat Dock.. 211

LAND, ETC.

HK Hotel RK Land S'hat Lanet UTILITIES

Tram

"BRIANCON"

ARRIVALS

fromHaiphong

SAILINGS

M

PASSENGER/FREIGHT SERVICE

"FELIX ROUSSEL”

*LA MARSEILLAISE" "LA MARSEILLAISE”

"BRIANCON" "BASTIA"

"AURAY"

to Marseilles to Japan

... to Marseilles

PREIGHT SERVICE

2nd June

23rd June

11th App. .... 22nd ADE.

N. Africa & Europe 3rd June .N, Africa & Europe 14th June N. Africa & Europe 13th July for

PORT SAID, TUNIS, MARSEILLIES, ALGIERS, ORAN.

TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 26661 (Three Lines)

MAERSK

LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vis

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

25 $

ราย

£100

2.80

110021

Another depressing factor was reports of the continued poor demand in the spot cotton market.

The weekly report Commodity Credit Corporation did not show any entries into loans or withdrawals.

M.S. "SALLY MAERSK”

M.S.

"CORONA"

May 31 June 14

M.S.

"ANNA MAERSK”

June 30

of the

ARRIVALS FROM U.S.A.

M.S.

"ANNA MAERSK”

June 4

5.10 5.30

Prices closed here today as follows:---

M.S.

"GRETE MAERSK”

June 23

37 XB .. 1.10

11.80 121% 100

1000 12

M.S. "OLGA MAERSK”

500

1.10 July

Spot

46.00 nominal

July 24

44.00-44.31

1180

October

37.01

December A

37.23-37.25

March (1967)

J7.12

May

36.84

24 500 @ 231:

July

30.43 bld

October

NEW ORLEANS

9.00

Spo!

July

October

500

1315

December

1800 17

25

6. Lalu 101 5.83 XD

1) Electric

Telephone

INDUSTRIALS

Oefpont Rope queue. They STORES, ETC.

Dairy don't expect to fill all foreign Wation orders now on hand until 1853,

Crawford COTTONS

EWO

WELL ON WAY

men

are

In addition, the Korean war has brought about a scarcity of shipbuilding materials. The last big quantities of materials available in

Germany have already been bought up to All. foreign orders.

Some shipping grumbling about the supervisory control the Allies relafn over the Industry's enpacity, They would like to see revival of the dismantic Blohm and Yartis, but capacity rules stand In the way, Smaller shipbuilders would like to expand, but unless the Allies say so, they must wait for a further relaxation.

Despite liese difficulties, how- over, the Germans seem well on their way up the ladder to their place. They have had ex- at starting over again.

perience

21

Afarch (1032)-

May 900

July October

AGENTS:

34.48

-Unlied Press.

MARKET

Closing rate

For Freights and Further Particulars please apply to:-

JEBSEN & CO.

Pedder Building.

Tel. Nos. 26601-3. ·

May 28.

44.01

44.82

37.53

37.15

3370

37.11

34.03 vid

-United Press.

The Rubber Grain Prices

Markets

In Chicago

Chicago, May 28. Prices of grain futures closed here today as follows:- 43-434 | Wheat-price per bushel 4234-43 Spot

London, May 25. Prices of rubber futures closed here today as follows:- Number 1 rubber, in conta

per lb. Voss June......

July/September October/December January/March

414-42 July

37-38 September 3315-36 ***United Press. SINGAPORE MARKET

Singapore. May 28. here today as follows:-

Prices of rubber futures closad Number 1 rubber, per ib.

May June July

In 1918, for example, only half Number a rubber. Mey.. a million tons of 6,100,000 tons Number 3 rubber. May.. of German shipping were left Number rubber, stay.

when the war ended. By 1089. Tack crepe

100 Spot rubber, unbaled Germany had rebuilt to 4,800,000 No. 1 pale crepe shipping ions, including the blue-ribbon liners, Europa and Bremen. The Europa is now in service for the French as the

ship "Liberte."

1,147-1.14 man builders got busy as

1,125

J330 1,130-1,120 1:150 United Pres. New York, May 29. Copper and zine futures closed quielly. No sales.-Associated Press,

roon

PATTISON ORIENT LINE

LIMITED

237 2.30-14

2.401-$

DIRECT SAILING TO PUSAN

December

2.445-8

Com Spot July September December

3-7324-%

Due:

Sailing:

1.711

1.03

S.S. “LAURE PATTISON"

June 6th

June 9th

Rye

May

188

145-14514 13935-140 12744-138 May 14242-1414 July 130-130

July Ox

1.8z

8314

845%

New York four-per 200 lb. Sack. 13315-1345 $13.00.-United Press.

162-163

112-114 155-105 -United Press.

Pepper Market

Idle

as controls were lifted. Four days after the Allied an-

New York, May 28. nouncement West Gormany's

The price of spot black pepper two biggest companies, the was lowered to $1.58 a pound, Hamburg-America Lines and off 2 centa from Friday's level. North German Lloyd, ordered However, husiness continued at 14 new ships with a total 128,- a minimum. 000 capacity tons, and turbines developing

It is believed that the price speeds of at least will go atill lower due to the knols. These ships are lack of interest. - United PreS3,

for Launching in

IC

steadily rising costs." In Aus- steel. This is steel New York Sugarut a year and a halt.

trolla, the Adelaide Weekly with Expess closed down "for a few years" because of the newsprint situation,

Herber, Cater, editor of the Oldbury News, told a journal- ista' conference this week that newsprint might rise to as much as £80 to £90 per ton for British consunters.

London publishers, who an- nounced price increases to one and

one-half

репсо

Pional

for the

or nickel, copper, aluminium, that large quantities of these columbium. It is reported critical materials can be saved by using "chad" metals instead of solid materials.

Ten American companies are now manufacturing limited amounts of "elad" steel to meet specific problems of defence production.

Producers of the now produc: say it can be used in chemical mass circulation nationals and plants, food plants, oil refineries,

raises for most

host pulp and paper plants, power today announced plants, heat treating shops, and would cut soap factorles. It can also save their advertising space to in- scarce metals used in building

rease editorial content in the construction.

that some dailles

more expensive papers.

The News Chronicle and the

Star sald that "for the Ume

being they would reduce World Reserves

ad columns as much as 20 per

cent on six-page issues and

more on four-page editions to print more nows.

The Adelaide Express censed publication

April 1, and or Afrikaans on March 90.

1

Of Crude Oil

The Hague, May 28.

Futures

FASTER BHUPS

New York, May 28. The Hamburg-South Ameri Worki suger futures closed can Line has ordered three hero today & to 21 poinė lower, with sales totalling 141 contracls. Contract No. 0 closed 4 10 7 points lower, with sales totalling 218 contracts.

Contract No. 4 (world) July

TEXTILE MARKET QUIET

New York, May 28. ships, the Woerman Line an- The cotton textile market other three for their African was quiet today. There was

and the Hons and the some scattered selling of print. traffic,

Lines. German-Africa

and have cloths

broadcloths

but ordered two each.

lower buyers generally had

ideas. The new, ships barely exceed | price "

liesitancy Some the provious 7,200-ton limit, was created by the more fa- faster vourable Korean news and fair- than the old 12-knot maximum ly sharp declines in the cotton ollowed.

futures markets. Passenger

Woot goods were dull. Milla to re-enter being built yet, but freighters were not inclined ordered will be equipped with the market because 'indications passenger space to permit com- pointed to a poor demand for bined service.

ships

6.83 nomina!

September

4.84 nominal

January (1952)

6.17 nominal

but they will be much

March

May

July

spot

3.30 nominal 5.31 nominal 6.31 nominat 0,00

arc not

Contract No. C

July

5.90 traded

September

6,91 traded

Jahuery (1953)

March

September

May

July

Spot

5.00 bid

6.61 numinal

5.01 nominai

buyers D+ this time. Rayon

West German Transport goods were slow:-Associated

801 nominal-Minister Hans Secbohm thinks | Press.

3.01 hominal that fast, medium-sized ships

3.95 United Press,

Exchanges In NY

The world's reserve figures on crude oil indicate the necessity The Gosforth, Belfast, of stimulating exploration and Canada Colchester and Buxton suspen-production and of further im- Great Britain slens and mergers, took place proving

Now York, May 20. Closing foreign exchange:

,93.75 2.801

*

1,98 %

.2046 20.37

procesinde, chair-

methods, Belgium this week.

O. C. A. Lidt de

France Another suspension which man of the Third World Petro-Holland took place last month was the leum Congress, declared at the Italy Garioch Gazette and Central opening of the Congress today. Portugal

Aberdeenshire Advertiser, a Estimates on world reserves of Spain weekly et Inverurie, Scotland, crude all varied from the belief Argentins which gave lacic of Advertising that they were adequate for 25 Brazil

years to pitier schools of thought Mexico

support: ana reason.

| On April 1, two Dahlah pro- who thought reserves sunelent Venezuela vincial; newspapers, the fan- for the next 25 to 100 years, he Hongkong dera Amaildende and - Hobro zaid,.--Associated Press,

.10.14.

3,30

.19.35

.07.10

.05.30

.11.57

will be Germany's sentoring

future for many yours to come. Exchange Rates

Ho

loniz

Bays big ships take too long

to build and the more expensive

desinem was done in the foca)

market exchange

to operate. Shipowners, yord tunontein operators and the West German mornag at the following rater: Federal Republic, which in-¦ Fiteria poda) (43) vested big sums of money in Indones susidore (per 500) rebuilding Germany's merchant: Blam sesin (nee 100) fleet, want a quick turnover on TC) Ghamon, (per, 400)

Bingletscara" {iltraita). their money-Associated Press,-

Sales Of Copra

New York, Moy: 28, Copro was sold at $160 per 120.05 short ton, Cocoanyt oll was

U.S. TREASURY ›

Washington, May 20, Treasury poesion: Total debt US$254,949 £35,204.04.; Year ago US$250,180,923,470.09,

Gold aste) US$31,205,009,- 17.00 offered at 18% cents à. pound. | 070,38. Year ago U9:21,230,486,-

854.81-Agonisted Press:

ated Press:

[United"Proms,

Japanese Bonds

Japanese bonde

"A" (45. of 1090) H" (45. of 1910) "C" 182. of 1907) "D" (58. of 1031) "E" 15. of 1930 Concia

-

SAILING TO NEW ZEALAND

with loading second week June transhipment cargo accepted for TAHITI, FIJI and SUVA,

$.S. "VALLES"

London. May 23.

48%

401%

12-14 Queen's Road C.

7

Tel: 25840.

01,

559

80

0812

Chinese Agents:

קס

United Press, New York, May 29. Japan 5-28 gained 1-1⁄2 the band inarket, Tokyo Elec- tric light da lost 1-% and Japan. 8-as dropped one point.-Asso- ciated Presa.

Oversea Chinese Steamship Co., Ltd.

48 Bonham Strand W.

Tela: 25646, 26127 & 31119

NORTHWEST

AIR CARGO

TO

SEATTLE, CHICAGO, NEW YORK Detroit, Cleveland, Pittsburgh, Washington Connections to California and All Major U, S. Cities Via Connecting Carriors to Tokyo

$109 (Under

$57 (100b

and over)

(lama caso applies to all major £3. 5. ciles)

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Phone 28171..

NORTHWEST

AIRLINES

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