1951-05-30 — Page 9

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Date

-

In Pori In Port

In Pott

June Jur

Ship

ARRIVALS

wwwwwwwwy

TJIMENTEND"

"RUYA"

"TASMAN"

**TITJALENGKA”

"TJIWANOP"

-2nd

31:01 16th

July

"RUYS"

From

9. Ameris, S. Africa & Singapore.

N. America, S. Africa, Singapore &

Astron.

Japan.

Macassar. Java Poris,

Macamat, Java Porta & Singapore. Japan,

SAILINGS

**FAKMAN“

TJITJALENGKA" *FTIMENTENⱭ"

2011 May _fit_June

4th June 22nd June 2 June

THIWANGI"

**RUYS" "RUYK"

18th July

To

Singapore. Djakarta & Belawan Deli Singapore Java Porte & Marastar. Japan Vla Manila.

Singapore. Java Ports & Macassar. Japats.

Manils, Singapore, S. Africa & S. Amerleg

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Date

Ship

Farly Juke ith ar

"KJELDRECHT“

1 arty July

“ARENDSKERK“ "BIELDRICHT"

BAILINGS

Wild June

12th Jutr Party any

"KIELAKECHT" "ABENDSKERK”

"KÆLARECHT“

From

Europe & Aingapore. Тарат Japan.

+

ΤΟ

Japan via tani Manila, Singapore & Europe, Europe. Stania, Singapore &

3 BEZKINGSÉRÜN,DING TELEPHONESZOMSTOLMES E

S. A. C.

THE CHINA MAIL, WEDNESDAY, MAY 30, 1951.

Better Tone Little Chance Of

In London

London, May 29. There were few Im- provemente in the London Stock Exchange today al- though hopes of a compro- mlse in the Iranian oli alisation helped the under

tobe.

Glit-edged itsuen Jost their initial gains . And drifted lower by closing but there was a firm tone to oils and sølented in- dustrials. German bonda encountered fresh profit- taking but mining shares registered email advances. Financial Times" Indexi 130.7.—Associated Press.

Newsprint Supplies For Britain

Ottawa, May 29, British and Canadian newsprint

have officials renched agreement on in- creased supplies for Britain. Other newsprint-short over- seas countries are exported to obtain some relief from un- other conference in Washington to allocate Canada's Important production.

Layton, Chairman of the British Newsprint Supply Company, said yesterday. it an agreement has been reached with Canadian newsprint mifls.

Well-informed quarters

here estimate that Britain is likely to get

four or five times 20,000 tons of newsprint she got from Canada. In 1950, or more

ore than 10 per cent of her total consumption,

the

#bout

She may get even more in the following two years, dependent en world demand for Comedian newsprint.

But other overseus countries --France, India, the Philippines, Italy, Turkey also want news-

Every TUESDAY is SAC DAY to BANGKOK Print from Canada.

and DIRECT FLIGHT to RANGOON

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

For full particulars, please apply:

General Agents:

SOUTH EAST ASIA TRADING CO., (SIAM) LTD.

69 Connaught Road, West.

Peninsula Hotel, Kowloon.

Booking Agents:

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

Britain Undergoes Greatest Jump Yet In Prices

London, May 29.

The biggest jump yet in the cost of imports of food and raw materials was announced by the Board of Trade last night.

Prices rose eight points last month to a new peak of 80 per cent. above the 1950 level," në over 75. in the £.

This represents an increase in the annual import bill of some

£800,000,000-more

than

our total defence expenditure lost year.

Increases have bean steepest in prices of raw materials for in- dustry, which shot up in April to 69 per cent, over the 1950 average,

J

Prices of nearly everything in

Wall Street Records Big Gains

New York, May 29. Without fuss and with very

the shops are affected by the little encouragement, the stock east of imports,

Unless there is a break in the commodity markets the increase

of

the

Their need may mean that emergency international alloca tion may be just around the corner for Canada's precious newsprint,

Informed officials report this may develop out of the Wash. Ingion conference of 10

roun- tries, now studying means 10 help overseas countries face a crippling newsprint shortage.- Associated Press,

Indo-Iraqi Trade Pact

Upward Revaluation Of Pound Sterling

VIEW OF FINANCIAL CIRCLES

(FROM OUR OWN CORRESPONDENT)

London, May 29. There is little chance at present that the British Government will accept the advice of the Economic Commission for Europe and mark up the value of the Pound against the dollar.

-This-is-the-view-expressed almost unanimously-in financial circles-

today.

Öné financial commentator says the chances of the Economic-Commission'a advice being" acted upon. are nil. Reverting to racing terminology — no doubt under the influence of tomorrow's Derby

"It isn't even a starter.”

The Financial Times re- ports that the British Trea- were not consulted Bury about the currency revalua- tion question.

Although Whitehali had prob- ably been impressed by the.ad- vice tendered to it recently by British economists, and now by the Economic Commission for Europe, that Sterling should

be raised to a higher level, the view that such a step might pre- cipitate a new external pay- ments crisis is still widely held in Whiteball, says its money.

market expert.

The argument that revalua- tion would help solve the terms of trade problem is discounted here.

he saya

HONGKONG SHARE MARKET

Ex-

(From Our Correspondent)

Business on the Stock change this morning was valued at $371,640. Nood prices and the morning's transactions:- SHARES BUYERS SELLERS SALER BANKS

HK Bank.. £345

INSURANCES

Union*** Lindemellers

Oscar Hobson, the News Chronicle's city editor, says it is for from certain that the prices

of raw materials-for example wool, rubber and tin DOCKS. FIC. in the Sterling markets would fall in proportion to the rise in Sterling parity.

It is even more 'doubtful whether we could count selling the same volume of exports at higher dollar prices in America and other dollar area countries or even in Sterling markets whose purchasing power would be reduced by lower prices of tin, rubber, wool etc.

A CONTRADICTION Financial commentators also remark on the implied contra- diction between the views put forward by the Economic Com- mission for Europe and by the International Monetary Fund over the week-end.

those

While the former body was recommending upward revalua tion of European currencies against the dollar, the Monetary Fund was reminding member countries of their. Ündertaking lo remove

or justify the ex.. change restrictions by March.

next

Where

N. P. What

XD Book Provident

LAND, ETC.

200 @ 1340 41340 26 6-0 1345 20 1343

30 6 1348

705 715

ક

TO 74 100 cm 72

4.30

03% 301

UK Hotel $5.20 * Land XB 32 S'hai Land. 1.10. Humphreys. 6550 UTILITIES

રૂમ

Trem

C. Light (0)

XD

C. Light (N)

XD

23.00

0.90

9,45

0.50

23.10 231

C. Light (B)

Electric INUSTRJA

Comer.t

Rope

Dalwy

Waloop

L. Crawford 2344

13

Rubber Export

Duty Up

Jakarta, May 29. Indonesia announced to- day that the export duty on rubber would be raised effective an July 1 from 1.08

Indonesian

conts per kilogram

to 1.20 сепи It

sald

that rubber is

Indonesia's richest national

cresses

and

de-

sharp in shipments in

the past few weeks have made it necessary to And a means of stabilising the national income. United Presa.

NY Cotton Market Recovers

New York, May 29. Colton futures turned higher today following Monday's sharp decline with the exception of neorby July which closed unchanged at 44.80 cents a pound. The remainder of the list finished 20 to 38 points higher.

At the close, the Agriculture Department issued the May 15 cotton parity price of 33.85 cents a pound. which was in line

with expectations and com- pared with 33,79 a month be-

·Pricas closed as follows:- Бров

1815 300 1 12% | fore. 17 200 @

The Rubber

Markets

New Delhi, May 20,

London, May 29. An Indo-Iraqi trade agreemen!

Prices of rubber futures has been signed to run to the end

closed here today as follows: of the year.

The Fund approves the pre-Number 1 rubber, in cents

per lb. rates but con July

4314-15 India will import wheal, rice, sent exchange millets, barley and dates from siders the time ripe for mem- | July/September

4134-42% Iraq-and-export-cotton-piece--| ter- countries-to-follow-up-de-- October/Decenter. goods, jute, tea, coffee, limber | valuation and combat inflation and pwood. The customs duties are subject ta most favoured nation treatment,

It was officially stated that the Indo-Pakistani financial

talks

were

will

postponed unill August. The Financial Ministers of India and

Pakistan with the Governors of the two Central Banks discuss various monetary and Gnancial issues arising out of the partition. Both sides wanted fur- ther information on matters to be discussed and agreed to defer

the discussions pending the col-

tection thereof.—United Press.

LONDON TIN STEADINESS

London, May 29.

The tin market closed steady at noon. Turnover was 100 tons, all on forward contracts.

Prices closed at the end of the official morning 50ssion

as

follows:-

Spot in. buyers

1.130

Spot in, sellers

1.140

Business done of....

Three-months địn, buyers

mil .1.115

Three-months,tin, sellers

1.11195

Business done at ......... 1,22735-1.112 Settlement

-United Press New York, May 29. Prices in the metal market closed unchanged with the fol lowing exceptions:

January/March

July

October

December

March (1952)

May

July

October

40.00 44.80 37.89-37.00 37.49-37.50

37.41

NEW ORLEANS MARKET

34.66

Unked Presa.

Closing rate

May 20.

4.91

44.03

37.70

MESSAGERIES MARITIMES

MOM

"BRIANCON"

ARRIVALS

from Haiphong SAILINGS

PASSENGER/FREIGHT SERVICE

“TELEK ROUSSEL”

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"BDIANCON" "BASTIA" "AURAY"

to Marseilles to Japan

;» to Marseilles

FREIGHT SERVIOS

1st June

23rd June

11th Aug.

32nd Aug.

•N. Africa & Europe. Snd June N. Africa & Europe 14th Juno N. Africa & Europe 18in July for

PORT SAID, TUNIS,-MARSEJLLIBS, ALGIERS, ORAN,

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

CIE DES MESSAGERIES MARITIMES Queen's-Building

EWAR

Tel: 20851 (Three Lines)~

MAERSK LINE

FAST FORTNIGUTLY SERVIOR 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"

M.S. "ANNA „MAERSK”

M.S. "GRETE MAERSK”

M.S.

ARRIVALS FROM U.S.A.

“OLGA MAERSK”

May 31 June 14

June 80

June 4

June 28

July 24

"For Freights and Further Particulara please apply to:-.

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos, 26881-3.

37,33 bld

PATTISON ORIENT LINE

LIMITED

DIRECT SAILING TO PUSAN

37.34-37.75

Spot

October

July

-December

March (1959)

July 38-38 303-3014

May

October

31.34 bi 38.82 bld

-United Press,

Duo:

B.S. “LAURE PATTISON" June 4th

414

Sailing: June 9th

-United Press, BINGAPORE MARKET

Singapore, May 29.

by removing the restrictions on payments, particularly thase

Prices nate between

which discriminate hard and soft

of rubber futures

COTTON

closed here today as follows: JAPAN QUOTA soft currencies. The implication of the Number rubber, par ib.

May Monetary Fund's "reminder" is

Juric that Pounds and other cur-

July rencies which were devalued Number

May fully Number In 1940 should be made convertible before upward re-

May valuation is attempted.

Reductions

In Retail

Prices

3

2 rubber,

rubber

142

Number

May

151

140-147 14046-14131⁄2 13876-100%|

-143

13314-13914 133 -124

OF

112

Spot rubbar, unbaled Black crepe

No. 1 pale crepe

-LIA 150 -160

-United Press,

Grain Prices

Higher

2.4814-16

Chicago, May 20. All futures Anished higher today. New York. May 29.

Wheat futures closed A Burry of reductions ranging do 1% cents higher. Soy- to more

than 10 per cent on bears were to 3% higher.

Wheat-price per bushel. hitherto "price-fixed" merchran- spot

2.36% dise gave New Yore's retail July ....

2.30%-5% 2.4175-2.49 stores all the atmosphere of a Bestamber

December "price war" today,

→ Corn But an Associated Press sur-Spot vey across the nation failed to July disclose a central price culting Beptember December

Пус Most cities indicated that May merchants planned to hold the Jur, line on prices if possible. At the

me time they said they were Juty... Prepared to prices.

movement,

same

Oats

| May

market rolled up sizeble gains.

The impressiveness will be even price performance was lessened

meat competitora" by a lack of buying enthusiasm and by the narrowness of the forward movement,

in the cast of cipated.

greater than

WOOL DOUBLED Here are

some examples of what the rise in world prices

means to Britain:

Among the leaders gains ex- into the $1-$2

and some

In the first four months of last year the bill for 272,000,- tended" 0001b, of wool was £68,000,000. rather frequently

This

year 226,000,000lb, have moved a little beyond, lost £114,000,000.

area

Row cotton Imports have But the volume came to only gone up from £31,000,000 to 1,100,000 shares, the lowest in £88,000,000, and the bill for more than a month. coffee was £4,500,000 instead

of less than £2,000,000,-

The

Copper, (electrolytic export) F.O., New York, per lb. 27.50 ce.ts-United Press,

New York Sugar Futures

New York, May 29. World sugar futures closed today unchanged to 15 points higher, with sales totalling 209 contracts.

Contract No. 6 closed 2 to 7 points higher, with sales total- intering 201 contracts.

Contract No. 4 (world), July

Jusry (1957)

Trading starlod-quietly on the one bright feature is upside and continued in that wool prices hova dallen veln plmost considerably since last month. ruption.

that

Exchanges In NY

Now York, May 29.

Foreign exchange:

Cariada...

Holland

Switzerland

Venezuela

Pross.

without

Among gainers were Northern September

May

Pacific, Superior Oll of March | California, Cities Survice, Tekog

Company, Consolidated Copper July Mines,

03.004

20.20

23.09 30.03

Dow Jones Averages; Stocks ........... 20 Industrials

15 Railroads

Others unchanged. —Associated} 10⋅ Utilities

בנאדם

July

Contract No. September 00.58 January (1959) March 248.44 May 70.02 ) July 42.25 September

Spot

Associated Prom.

4.80 nominal

6.17 nomina] 5.35 nominal 4.35 nomina} 5.45 nominal 7.09

5.97 nominat 6.99 bid

nominal 6.63 nomina

5.03 nomink

United Prom..

Today's price cuto stem from a US Supreme Court

decision that stores which hava not signed "fair trade" agree- ments are not obligated to ob- serve the retail prices fixed by manufacturers. Prése,

1.7032 4.744-3 1.7213 4.05-1.04

1.80 1.03%

6316 69-843

New York Boup-per 200 ib, mck. $19.06––United „Press.

TEXTILE 'MARKET

The

QUIET

New York, May 29. cotton textile market

Same quiat, Associated was

quarters blamed the complexities of pricing orders more than heavy inventarios · for the

continued dullness in the goods market.

Wool

goods were quiet. Some

Japanese Bonds mills which are offering goods

Japanete boner

London, May 29,

"A" (x. of 1899) "D" (4 a. af 1910) "C" 16 B. oF HOTE "D" # of 1939) "E" (K140, of 1934) Consola

United Press, New York, May, 29. 25 Japanese bonds, declined in the foreign dollar section of the bond market today. Japan B and Orient Development Blixes each lost 11⁄2. Other? Japanese issues werd mixed Fractionally, Associated Press.

under the latest pricing orders were reported to be folding it difficult to pollu

Rayon goods were sluggish.--- „Asociated Press.

Exchange Rates

255zukamata was done in the Joeal thip market rock! Exclings

teri note, INTRA), KAN midening: ps the following retaking U.B. Challata (per/4b) Indonesia (quilders (jær 100). ; # Ellam tionis (per 100) Bingapore (SILEMAAN) VIC. Dimirea (per 100):977

Washington, May 20. Agriculture Department oM- cials disclosed today that Japan will get 15,000 more bales of the United States. retton from than had been expected for the period from April 1 to July 30. However, subsequently it was found that two errors in the Commerce Department's export

months of ponie The two

licensing division. azo had deprived previous errors have delayed the ship- ment of 15,000 tons to Japan.

supplies.

The errors were made during the August-March perlod when Japan was allotted 883,000 tons of American cotton. -- United

Press.

JAPANESE DEAL WITH INDIA

Kobe, May 20. The Daido Kikai Book Com- pany has concluded an export deal involving the shipment to India by the end of this year | of 8,300 diesel engines of below 10 horsepower at about $3,000,- 000,

The export price is $470

per engine-United Press,

SAILING TO. NEW ZEALAND'

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

S.S. "VALLES”

12-14 Queen's Road C..

Tel: 25346.

Chinese Agents:

Overson Chinesa Steamship. Co., Ltd.

48 Bonham Strand W.

NOTICE TO CONSIGNERS

*.. "CHANGTE" Arrived 24th May, 1951.

Damaged cargo ex this vesiel will bo mælayed_by Mém. Goddard & Douglas at Hongkong Kowloon Wharf from 19.00 16. on Weddes- day, 30th May, 1911, and consignees representatives arò, requested to be present during survey.

BUTTERFIELD & SWINE, Agente, Australian-Orfantal Line Ltd.

Tels: 26646, 20127 & 81119

St. John Ambulanco Brigado

FREE AMBULANCE

SERVICE

2 Hongkong 35035

China Navigation Co., Ltd

Kowloon

32222

Pacific Far East Live, Inc.

Fast Regular Trans-Pacific Service

DIREOT

SAN FRANCISCO, LOS ANGELES

الرقم

TO OVERLAND

A NEW YORK-CHICAGO DETROIT TORONTO MONTREAL AND ALL AMERICAN A CANADIAN CIEDEN

"MATHEW LUCKENBACE"

“GEORGE ZVORNŃDEGR“

“RDGAR LUCKENBACE"

From

Asa Francisco.

Aniver

Jun. 1

Bingapore, Malertą; Homi B

Biralte

Jubr

July 17 San Francisco & Los Angelee

For full

call United Bisies Lino Go, General Agen is, Queen's Buildbor, Tali náinÍ