Page
R. I L
ROYAL
Dale
In Por!
10 Port
2nd Jane 17): June
16th July
Eni 22425
22nd June
zetl Jone JUFLA July
Datr
Ship
INTEROCEAN
"TIMENTENG" "RUTS"
ARRIVALS
**TJITJALENGKA"
*TIWANG **RUYS"
From
LINES
8. America, 8. Africa & Singapore.
8. America, 5. Atties, sługapore a
Salzon.
Maraktar, Java Porte,
Macassar, Java Porte & Singapore. Japan.
SAILINGS
To
*THTJALENGKA“
STJEMENTENG**
Singapore. Java Poris & Micavar. Japan via Atenita.
Singapore, Java Ports & Macassar. Japan
Maulla Singapore, S. Africa &
America.
9.
"TJJWANG **RUTS" "RIAN"
HOLLAND EAST ASIA LINE
Agents:
ARRIVALS
Ship
June
-KIELDRECHT"
Early July
ARENDSKERK" "KIKI.BAYCAT
Oil Shares Supported
THE CHINA MAIL, FRIDAY, JUNE 1, 1951.
London, May 51. There was fresta support for all aliares on the Lon- don Block Exchange today, with the market but mainly firmer,
quiet
Britta bonds caned slightly on emali sales. Gold and coppers 'Inclined lower, Leading industrials encountered Investment demand
Financist Times' Index: 137.2-Assoolated Tren
Grain Prices
:
Higher
Chicago, May 31. Went futures closed today un- changed to 3% higher.
Wheat-price per huchel
1.78-1-1.75
1.73- 104~14
Spot July
Exptember
December
2.30-12 2.30-15-92 2.42-15-1 2.45-
Com
From
Spot
1.00
July
September
Europe & Singapore,
December
Japan
Rye
Japan,
MAY
July
Date
SAILINGS
To
Moy
July
Bo June
"AKENDSKERK"
Jarly July
"IGELBRELUT" *KIRIDAECIFT**
Maalia, Singapore & Europe. Japan via Manila,
Mablia, Singapore & Europe.
תנו !!!
FE KING'S BUILDINGËTTLECHONIST 200GSTONZERVEZ
FLY
JATAN
P
O
HONGKONG
A
S
SINGAPORE
2 FLIGHTS Weekly NORTH & SOUTH
PACIFIC
OVERSEAS AIRLINES (Slam) LTD. ASIANDS
1.8
1.82.1%
New York Flore-ver 200 115, Sack $1305.- United Press.
Exchanges In NY
New York, May 31. Closing foreign exchange: Caunda 93,50, Holland 26.27. Switzerland 23.10. Others un- changed.Associated Press.
How Peace Rumour Panicked The NY Stock Market
From NEWELL ROGERS'
New York.
An obscure business man in Sweden, 4,300 miles from Wall Street, last week helped to bring on a 40-minute near-panic in New York's stock market.
Dollar-Saving Need Fostering Growth Of World's Ship Fleets
New York.
The threat of war and the need for dollar-saving have fostered the growth of merchant fleets flying the colours of nations” which have never before been known on the sea.
Of eleven countries whose ships have appeared in increasing numbers on the seas since the outbreak of World War I, three have only recently achieved statehood.
All of them, however, have in common the aim of becoming self-sufficient on the sea.
Contrary to the traditional tons which he calls necessary sengoing powers, such as Greul for Argentina's needs. Britain, Greece and the Scun- Chile's Compañia Sud Ameri- dinavian lands. thest new cana de Vapores hus been I comers do not maintain
service since pre-war days but their fleets primarily for competing has recently expanded, Its seven for world trade, Rather they | shipa, including four modern C-2 look forward to having enough type vessels, now operate from bottoms
own Chile to New York and thence to carry their necessitles In case of cter. to Europe. xency,
Nor are they, as in the cusc of Panama, Libeyla and other nations, merely places where shipowners register vessels for legal, labour or other reasons In each cuse the governments have taken a hand, whether supervisory or only helping in the development of the feet.
Manpower problems beset all of these nations as they drive to crew their vessels with their own mutionals. In the case of Switzerland, it is dificult and only an occasional Alp-dweller Is fourid on Swiss deep-sea ships.
The Irish, Indians, Pakistania and Egyptians have reservoirs of skilled scamen who saw service under the Bri-
who were
com-
Firmer
Tendency
In Cotton
New York, Muy 31. Collon futures Armed at the close after moving erratically throughout most of the session, Late in the afternoon
prices were 5 points tower to 10 points higher but at the close goins were from 5 to 20 points.
The late
Selling in spot month was stimulated by indications of an The Swiss and the Irish are
casier spot market tone. Stiffen- two nations which have ex- tints
fag, but some of the coun-ing Communist resistance In panded their merchant fleets
trien find a shortage of licensed Korea and a less optimistic out- since 1940 when needed im- ports could no longer be carried officers particularly in the en-look for a quick end to the con- fict, along with the need for on chartered tonnage or throughneering department,
Israel, which has had to start more moisture in the important regular services which
encouraged from scratch, has about 1,000 growing regions, during the were suspended
and Israeli
buying
other in
positions, captains war, The Irish started with seamen, .**** two vessels in 1940. Today,
lay, have replaced the foreigners traders said.
Int spurt
cattoli originally in there are seven new vessels in the service of the Irish Ship-mund. Yugoslavia has prac prices came in the face of gen- ping Limited. They operate tically no foreigners aboard her eral easing tendencies in most from Ireland to Canada, the ships which are manned by the the other markets. United States and the Bakle. doughty Dalmatians who have
Prices closed as follows:- SWISS FLEET
always wrested п livelihood Spot During
the war the Swiss from the sea. South American short when Italy countries have also hat little were caught invadat Greece and prevented difficulty
erewing ther chartered Greek tonnage from vessels.' delivering produce
bound for Switzerland.
With ment approval, Swiss men gat imo the shipping in-
ling
dustry. Of eleven ships, total- 40,000 tons, in service, four were lost due
to action
in
July
October
December
March 11053)
May
Ju
October
MESSAGERIES
MARITIMES
MOM
**BASTIA"
ARRIVALS .from Balgon SAILINGS
....... . . . . . . . 14th June
PASSENGER/FREIGHT SERVICE
"FELIX ROUSSEL" "LA MARSEILLAISE" "LA MIARBEILDAISE"
"BRIANCON" "BASTIA" "AURAY"
to Marsellies
10 Japan
10 Marsellies
FREIGHT SERVICE
23rd Janą 11th Aug
1204 Alf.
N. Africa & Europe. 2nd Janu N. Atrim & Europe 15th June, N. Africa & Europe 13th July for
FORT SAID, TUNIS, MARSEILLES; ALGIERS, ORAN, TANGIEL, 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, via..
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. "GRETE MAERSK"
M.S. "LAURA MAERSK❞
May 31 June 14
June 30
June 26
· July 19
Aug. 7
For Freights and Further Particulars please apply to:-
AGENTS:
44,00
44.85
M.S. "OLGA MAERSK"
38.00-18.09 37.09-37.70
37.61
37.50
37,04
15.00
United Pres.
Closing raie
May 31.
37,03
Pedder Building
37,53-37,55
31.50
37.47
NEW ORLEANS MARKET
HONGKONG
Spot Waly
by
October
December
March (19521
May
July
After the war, Switzerland de-
belligerent powers. He tipped off the Swedish Foreign Ministry that an unidentified Russian had tipped him to something important about the Korean war.
The fip was that the Kremlin would consider a settlement in Korea on the basis of a cease-
Are plong the 38th Parallel.
Sweden possed along the tip to UNO. And it was given "smash:
Advertising
play" en page one of authorita- In America
tive New York Times, whose headline read. "Soviet proposal ! to discuss truce in Korea
revealed."
is
At New High
National
New York, May 31. advertising
in
Thirty minutes after the mar- ket opened a violent selling wave developed. Prices of share after share-rails steels, newspapers soured to an all- motors, chemicals, oils, rubber time high last month, "Printers
lumped.
Ink" reported today. And the general Index for all advertis- ing media was up slightly," re- vorsing the downward trend of the previous two months.
Among leading stocks losses ran as much as xlx dollars a share.
·Declines often ranged between one and three dollars. Millions of dollars were wiped out
values. in market The licker fell behind five minutes.
Contributing to the selling wave started
by the Swedish business man, market experts report, was a bear roid and a report from Washington that in- come taxes are to be upped.
In 10 minutes it was all over, Prices began 10 rise again. Buyer's came in.
TIP PASSED ON
By the day's close more than balf of the losses had been wiped out. Nel loss for the day averaged · only
50 cents per
share throughout-
for the leaders.
Newspaper advertising in April was up 14 per cent from the previous month and up six per cent from a year ago. Total national advertising expendi- tures in all media increase of four per cent over showed an
March and a gain of 22 per cont over April, 1050.
cided to retain its fees. Several companies, embarked on plan of replacing their more ancient tonnage. In 1948, the first ship ever built for Swiss intercats
SHARE
MARKET
entered service. Today the (From Our Correspondent
nation's fleet, consists of thirteen
vessels displacing upward of Business on the Stock Ex- 01,000 tons, including one change this morning was valued lanker.
serve
at $157,475. Noon prices and the morning transactions:- BHARES BUYERS HELLERE SALES
BANKS
in Bank 1305 1390 East Asia
101 INBURANCES
Unton XD.707 710
Israel, a late starter, hag ut- ready amassed a merchant fleet of seventeen ships, a total of 70,000
which tons, European and North American ports. Of these five are in passenger service in the Medi SHIPPING
Asia Nav. terranean where
they help | DOCKS, ETC.
K. Wharf ..71 724 N. PL. Wharf XD
4.30 4.40 Duck Wheelock
carry thousands of immigrants to the new land. Fivo vessels, large 10,000-ton freighters, and from Haifa to New York and other East Coast ports.
INDIA, PAKISTAN Most of the ships are operated by organisations which derive their incomes from public, but not governmental, sources. Ap- other trans-Atlantic company which
more
ore recently entered the service is underwritten com- pletely by private capital.
C.
"
Hotel 5.25 HK Land XB Shal Land UITIES
Biar Terry
23 m 110 10 715
હીલ મ 1.05
Delober
44.01 44.82
37.00 bild
34.04 10
United Press.
Weekly Bank Statements
London, May 31,
The Bank of England state- ment for the week ending May 30 reads as follows:-
Noto in
pirculation
Public deposits
Frivate deposits
Government
Other securites
100 @ 72
securitiew
Receipts
Bank ratio
600 21%
200 A 211
50 21
1.131.632,000
27,013,000
331,125.000
378,770,000
33,961,000
19,223.000
United Prem.
BANK OF FRANCE
33 100 321 ment for the
Tram....
1.15
2133
12
C. Light (0)
C. Light
2. Light
(B) XD
5,00
23 231%
2500 3,95 2000 3.85 4000 5.00
Dairy
19 1215 1000 ₫ 139, 1816 L. Crawford 244% COTTONS
Ewo
In Asia, India and Pakistan
Electric bave
ave also turned to the sea since
Tel XD 0% achieving independence..
The INDUSTRIALS Scindia Steam Navigation Com STORES, ETC.
Hope Telewiston, business papers end outdoor advertising show-pany operates thirty-one vessels ed fairly
Watson under the flag of India, mostly large gains over. a war-built tonnage. year ago. General
Pakistan magazines W and radio showed small losers, has only two main ports-Kar-.
Jachi, -Associated Press.
on the west coast, and the newly developed port of Chit- tagong on the east side of the .subcontinent. Still the new nation's privately
owned chant fleet totals 27,000 gross tons or five ships.
two doors New York Sugar
Over 2,500,000 shares changed hands.
Futures
New York, May 31. here today 2 to 18 points higher, World sugar futures closed with sales totalling 282 con- tracts.
The Swedish business man's Up ww passed on to United Na- flons' Good Offices Committee the committee which would l to have Communist China use its good offices to negotiate peace..
There it has been noted and filed, for the Committee not feel it can get on tips from private individuals, no matter January (13) how the stock behoves.
Contract No. 0 closed 2 to 0 points higher, with sales total- ting 128 contracts. docs Contract No. 4 (warld),
July Beptember March
United Nations officials and May British and American diplomats 50
Spot assigned to United Nations re-
Contract No. fuse to take the tip seriously. July Some of them express doubt tha September
January (1953)
It is a genuine Russian feeler, March though not questioning May Sweden's good faith in passing september
July it on,
Бра
LINGERING HOPE
.
Japanese
Sald a United States official: "Russia has made no overtures to discuss peace in Korea either directly or through any inter- medlary."
Sald
| Japanese bonde a spokesman for the British delegation: "We have
St. John Ambulance absolutely no sign of a peace
Brigade
FREE AMBULANCE SERVICE
Tel, Hongkong
15
Kowloon
35035 52222
hint from Russia.
1.14 nomina! 7.16 meminat 6.10 nomina!
5.41 bid 5.42 traded 6.42 nomina! 7.15
0,03 bid 6.05 traded 5.07 bid 5.43 nominat
5.65 nominal
5.43 nominai 6.68 nominal 0.00
United
Press.
Bonds
London, May 31.
"A" I *. of 1000! "n" (4 s. of 1910)
***" (5), of 1034)
Sald Russia's chief delegate, Consol Jacob Malik: "No comment,"
But there is a lingering hope United Nations
001
0536
Unlied Press. New York, May 1. Japanese issuou were mixed
mer-
The Rubber Markets
London, May 31. Prices oť rubber futures
Paris, May 31.
4.7
The Bank of France state- week ending May follows:——
24 reads as
Total guit!
taklings
Total of other
Currencies
Sight balance
abroad Advance to
currenty stabi Ilsation fund Dills discounted In France and obroad
Notes In
circulation
Current accounts &
deposits
Fra 101.410.678,020
3,200.302,173
164,514)630,837
-141,300,000,000
447,008,000,734
1.581.328,004,900
204.001,130,505 -United Press.
TIN
LONDON
*MARKET
London, May 31.
The tin market was steady this morning. Turnover was 35 tons, all for forward contracts.
Prices closed at the end of
the omelal follows:-
morning session as
Spot tin, buyers
Spot tin, vellers
1,18215 1125 nil
Eusiness done at 435%-44%
Three-monthe tin, buyers' 1130295 Three-months tin, geilers 1,310 4312-44
Flu Iness done al 4234-43
1,110-1,105 1,124 United Pr
Egypt's leading shipping com- pany, the Khedivial Mall Line, operates fourteen vessels, in- cluding two in passenger ser vice to New York. The De la Rama Steamship Company in the Philippines is taking over closed here today as follows: three mode
modern new freighters Number 1 rubber. which were built in Japan. Plune July are afoot to order from threo to slx more ships.
Yugoslavia's State-controlled merchant marine numbers forty- six vessels, 224,587 tons. Eleven of the vessels were ac=" quired since the end of the war, them newly built in the BOVCA ol Netherlands.
or
in cents per ib. July/September October/December January/March
304-14
United Press. SINGAPORE MARKET
Singapore, May 31. Prices of rubber futures closed here today as follows Number 1 rubber,
por ib. May
140-100
Gran-
July
July
142-143 139-140
the Number 2 rubber,
of May
Number 3 rubber,
May
143-144
The Fiota Mercante
representing investment Venezuela and
Colombia,
Ecuador, stated service in 1947 with four ships. Now the line Eleven operatos thirty vemels. are owned by the line and the Another 50,000 rest chartered, gross tons is being added to the fleet now by the construction of Ave modern
Vessels Canada
ARGENTINE FLEET
in
The Argentine State Line, which is Government-controlled, owns upward of 250,000 pros tons of shipping More than ships
the *carry flag to Europe and
diplomats that. Malik when he in tho foreign dollar section of North Americe, Including three
Number rubber,
MAY
Spot rubber, unbaled Black crepe...... No 1 pale crepe
13945-140
133-134
153-154
113-118
***** 150-100
-United Press.
NY MARKET
New York, May 31.
Crude rubber spot No 1 rib.
Settlacht
TEXTILE MARKET
New York, May 31.. The cotton textile market Was qulot, Scattered lots of print cloths and broadcloths
were sold through third quarter Prices on re-sale cloths were slightly
delivery. prini
lower.
The wool goods
market was
dull. There was practically no elvillan demand for mill offer- Ings.--Associated Press.
Seeds And Oils
New York, May 31.
Prices in the seeds and oils
bed smoked sheets 00 asked.-market here closed today un-
Associated Press.
Exchange
among Somc
takes over the presidency of the Bond Market, Japan 6-143 new liners which come to New the Security Council on. June 1 added:11⁄2 and Talwan Electric York and two new ones in the -might have
gained ip hoppy prace Rower tha
1-European service. President surpelte for them--Landon Ex- Bilnystuu Kisetrie: 6-149 löst 1- | Forda has est as the gost of his press Servico,
34.--Associated Press.
nation a fleet totalling 1,800,000 Bingapore (Straits)
Rates
0.000
Business was ' dané In the locat unofficial wxchange Imarket ibli morning ai the following rates:-. Alerting note (per 21. U.B. dollars, (Der $1) Indonesia guilders (ner 100) Hium tiesle - 40er-100)
·VIC "plasiren (Dar. 100)
changed with the following exceptions:
Linseed OII, in tank cars,
New York, per b. 21 cents
United Press.
Copra Quotation.
JEBSEN & CO.
Tel. Nos. 26661-3.
PATTISON ORIENT LINE
LIMITED
DIRECT SAILING TO PUSAN
S.S. "LAURE PATTISON"
Duc:
June 4th
Sailing: June 9th
SAILING TO NEW ZEALAND
B.S. "VALLES"
loading second week June with transhipment cargo accepted for. TAHITI, FIЛ and SUVA.
/ 12-14 Queen's Road C,
.Tel: 25846.
Chinese Agents:
Tela: 25646, 26127 & 31119
Oversea Chinese Steamship Co., Ltd.
48 Bonham Strand W.
BENS LINE
FAST SERVICE TO UNITED KINGDOM AND CONTINENT
BY
S.S. "BENLAWERS' LOADING HONGKONG th JUNE
FOR LONDON, ANTWERD
ROTTERDAM,
STRAITS, COLOMBO, ADEN PORT SAID.
MANILA, SANDAKA
New York, May 31.W.R. LOY
no-
Dealers quoted copra 100minally at $105 per short ton York Bui 27.50 Coconut oil was offered at 14,
up1⁄4 ̄cent--United (Press.
& CO., (CHINA) LTD.
Tel. 34105 & 88710;
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