1951-06-04 — Page 9

Page

R. I. L.

ROYAL

Date

In Part

In

Port

In Forf

17th June

16th July

GAR

h

June

June

22nd June

Ship

INTEROCEAN LINES

"TJIMENTING”

"RETS"

ARRIVALS

"TUTJALENGKA“ #THWANGE "RUYA

From

S. America, S. Afties & Singapore. 5. America, S. Africa, Singapore &

Salzon.

Macassar, dava Porta.

Macassar, Jaya Porte & Singapore. Japan.

SAILINGS

*THTJALENGKA“

TJ)MENTENG"

TWANGI"

23th June

"RUY"

18th July

"BUY"

་

To

Singapore. Java Potis & Machanar. Japan via Manila.

Singapore, Java Potis & Macassar. Japan.

Manila, Singapore, S. Africa & S.

America.

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Date

Ship

Jath 2000 11th June Early July

12016 June

130 June

Early July

"KIELDRECHT" "ARENDSKERK" "KJELDRECHT"

From

Europe & Singapore, Japan.

:

SAILINGS

То

"ARENDSKERK"

Manila, Singapore & Europe, Japan via Manita.

Manila, Singapore & Europe,

"KIELDRECHT "KIELDRECHT"

EEKING'S BOLDING, TELEPHONESZ20015210281:

SETHELSEZAGUS ISTALE CON SAGALE ROMË GEIGERNES

PENINSULAR

QUIS NOS SEPARABIT

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CARTHAGE"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 8th June at 12.00 Noon for the UNITED KINGDOM vin Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CAN- TON ROAD ENTRANCE by NOON on THURSDAY the 7th JUNE,

SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, Alli BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.

EMBARKATION: Will take place on FRIDAY the 8th JUNE between 9.30 am. and 11.00

11.131.

|

THE CHINA MAIL, MONDAY, JUNE 4, 1951.

SURVEY OF Revaluation Proposal Gets Mixed Reception

S. AMERICAN

TRADE

In

Financial Circles

(FROM OUR OWN CORRESPONDENT)*

London, June 3. An important international organisation-the Economie Commis. sion for Europe-has recommended appreciation of European currencies as a means of solving the present problems of inflation.

Mexio City, June 3. Trade between "Latin- Amerien und Europe is lower now than it was Before the First World War, according to report to the United Nations Eequo- mic and Social Counell yesterday. The joint survey was mudo by staffs of the

for Economic Commission Latin America and the Economic Commission for Europe. The Latin-Ameri- can Commission 18 now price spirals. meeting here.

--Despite the present-low-level, the report said, there a hope fat trade between the two areas soon will begin to climb. Ac- cording to the survey, the fallure of any trade expansion between Europe and Latin-America after World War I can be traced to the following factors:

1. Lack of many commodities for export to Europe,

2. High prices of some pro- ducts.

The Commission's argument is that currency appreciation would make it possible for European countries to obtain more raw materials and thus carry out their rearmament programmes with less risk of Inflationary

This advice has had a mixed reception hore. The "revaluationists" naturally welcome it while others counsel greater caution. They point out that the strength-of- Sterling-largely the result of the present high prices of Empire raw materials-is only transitory.

We have to face the upon the steps eventually taken problem of paying our way by the governments In carrying |

out the recommendations." during the rearmament

STOCK EXCHANGE This week oils captured the period, and this would be made even more difficult if attention of the Stock Exchange

and helped too

appreciation equlty

litt the industrial husty

market out of the should result in the Pound doldrums into which it had re- becoming overvalued and lapsed. An unexpectedly large

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business on the Stock Ex- large change this morning was valued

Oll started the movement but the morning's quatallons- thus necessitate another de-dividend distribution by Burmah at $81,280, Noon prices and Oil made the SHARES BUYERS SELLERS SALES Anglo-Egyptian

valuation.

3. Monetary difficulties. The report said this situation is the opposite of that which followed World War I when The advice proffered by the biggest advance on news that the International Monetary Fund- At

company is to move its domicile trade also failed to gain, thnt ume,

that it is time for more relaxato Cairo. Latin-American countried suffered from

tlon of exchange restrictions and towards con- supply of goods while Europe further progress

vertibility has hac

n only failed to make rapid enough industrial recovery.

slightly better reception.

over-

DANKS

1K Bank 1000 East Asia. 101

INSURANCES

Union XD

Underwriters

DOCKS, ETC.

10 1370

710 330

10 @ 700

N. Pt. Wharf 4,30XD 4.40XD Proviilent

H 10% S'hal Dock 1, 2.00 Wheelock ... 2114

Apart from a momentary and unsustained rally in gt-edged securities.

short-lived on tine belief that Britain might take | is true that Britain had the advice of the ECE and The report noted the fact that relaxed its dollar restrictions last revalue the Pound, the beginning

live handl Europe has long been depen-year we might now

from suffering dent on imports of foodstuffs bigger sincks of raw materials of the week found the markets

indecision after LAND. ETC. and raw materials while Ex- which are no longer avat

available their recent hectic activity. porting products of its factories,

now that we have dollars.

Derby Day brought its usual It said that therefore the ex-

the IMF seems

to be decline in business and it was the pansion of Latin-American food!

that not under

impression

until Thursday, when and raw materials available for Britain can act Independently of dealings for the new account export is needed for the re-

the Sterling Area as whole.

began, that industrials came back stomation of European, export

into their own. industries. This would be the prline factor for the beginning of expanding trade between Europe and Latin-America.

RAW MATERIALS

Another need is Increased confidence that much trade will

for grow. This is necessary financial backing to start the flow of raw materials across the Atlantic. Both America and Europe must correctly Judge each other's needa.

ability

Latin-America's buy imports from Europe's industrial contres will depend heavily on how much raw ma- teriat those contres buy from Latin America. It said the im petus for this trade musi come from Lati

Latin-America "since that is the source of raw materials.

will have

to Latin-America increase its export output be- fore an expansion of trade can take place. This will require the creation of a greater mea

are of confidence in the future prospects of international trade which can be achieved only by the development of au increas

inst

number

measures,

of stabilisation

of

The report said that one the main reasons for the failure of increase In trade between the two reas in the period between the two world wars was the low level of European Investment In its export in- dustries. The situation is now changed, giving hope of ex- panding trade.

The report will be studied by the Latin-American Com- mission now meeting here and the European Commission in Geneva.-United meeting Press,

Slump In

PATTISON ORIENT LINE Grain Prices

LIMITED

DIRECT SAILING TO PUSAN

S.S. "LAURE PATTISON"

Due:

June 4th

Salling: June 9th

SAILING TO NEW ZEALAND

8.8. “VALLES”

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

with for

12-14 Queen's Road C.

** Tel: 26940,

Chinese Agents:

In Chicago

Chicago, June 2.

The grain markets slumped at the outset and showed little rallying power throughout the session at the Board of Trade an

But

Our gold and dollar reserves have been built up largely as a result of the high price of Sterling Area commodities and they have been accompanied by an enormous rise in Sterling balances held by our partners in the Commonwealth.

NO RELAXATION

way

Porthoses

Price War Expected To

JK Hotel HK Land S'hai Land

UTILITIES

Tran** C. Lipit (0) XD Zlectrio Tel. XD INDUSTRIALS

Cement Rope STORES, ETC.

Dairy Watson

Crawford

COTTONS

Ewo...

1.15 1.30

101

MESSAGERIES

M

"BASTIA"

MARITIMES

M

ARRIVALS

from Haiphong

SAILINGS

PASSENGER/FREIGHT SERVICE

"FELIX ROUAARL" "LA MARSEILLAISE” ́"LA MARSEILLAISE”

"DASTIA" "AURAY" "QUINTREHAM"

+

to Marseilles to Japan

to Marseilles

FREIGHT SERVICE

11 June

Jard Junia 11th Aug.

22nd Aug.

N. Africa & Europe 13th June ....N. Africa & Europe 13th July .N. Africa & Europe 12th-Aur- for

PORT SAID. TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CARABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

__CIE_DES_MESSAGERIES MARITIMES

Queen's Building

Tel. 26651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vĨA

SAN FRANCISCO,"LOS ANGELES AND PANAMA,

NEXT SAILINGS

M.S.

"CORONA"

June 14

2000 @ 214

M.S.

"ANNA MAERSK”

June 30

M.S.

"LEISE MAERSK"

July.16

ARRIVALS FROM U.S.A.

M.S.

"GRETE MAERSK”

June 26

M.S. "OLGA MAERSK”

July 19

M.S. "LAURA MAERSK”

Aug. 7

kho tàu 1009 BỊ

15 600 2322

914

2012 124

17 500 15

25

A

Spread WORTH ST. IN

New York, June 3. Price cutting wars are OK- to break out in Ban

Francisco and Omaha on Mon- day, but the leader of the Now York war said it was ready for a truce.

These balances would have been a source of great CITY. barrassment if the rest of the Commonwealth had not been content to let them accumulate. We cannot now, therefore, restrictions in relax the dollar such J

that the reserves i pected built up from the earnings of, for instance, Malayan rubber would be dissipated in

of

non - essential consumer goods from America.

Financial observers have been quick to remark on the apparent contradiction between the of the Commission and is due to difference Inductions at six per cent. in line work This

policy at prices, emphasis rather than in funda- with the traditional

The Commission "six per cent less for cash,” mental sims.

Strect But competitor cried that believes inflation should be Macy's offer was

Interest a false truce. watched with growing tackled at once and as a separate Thoy charged

that when they the battle of prices in the problem by appreciation European

neet Macy's six per cent cuts,large department stores here. currencles ̧vis-D-vis

the big store chops off another They hoped that the fever would the Dollar.

in intensity and bring The Fund believes that by

six per cent. 11 appeared that grow

with it a heavy demand for the New York war would go on removing trade barriers more

and bo taken up by other nest textile items. oconomic use could be made of

experts believe that day cloth cities, the work's resources which, in

buying movement which may itself, would be a disinflationary

develop at prosent will peter om rapidly.-United Press,

DOLDRUMS

New York, June 3. The cotton goods market con- tinued in the doldrums last week, reflecting nervous trading for row cotton together with greater resistance to current i prices.

Mary's, the largest depart ment store in the world, which precipitated New York's rush Buyers in the grey goods mar- of bargains last week, said it her preferred the sidelines as would be satisfied to stop re-commission

houses sought to out the new ceiling

the

measure.

A DISAPPOINTMENT Those who expected quick results from the International

In San Francisco, Weinstein's Department store announced in e newspaper advertisement that prices on many "Calr tradio" items most drugs and sund- will be cut On Monday. rics -

The reaction Was felt im- when Weinstein's retorted that they

Materials Conference which mediators

set up months

in Washington three to study problems 320

of raw material shortages will would not be underscid. be disappointed by the progress so far achieved.

has just issued of the first three months

em~

A

for the spokesman porium sold tartly that his the The central group of the or-organisation did not

યુ

largest store ina Son ganisation report work of the various commodity cmmittees, in which it notes one definite result of their labours they have conclusively proved that raw material shortages do in fact exist.

But to leave it at that would be to give an unfair estimation of the work done by the com- mittees some of which have not been in existence for even three months, Their hardest task har been to collect and collate data. In "establishing an estimation of available resources and needs which affords a general view of the situation of resources in short supply," the committees have contribution made a valuable towards eventual solution of the problems.

Each commodity of which a shortage exists has to be treated

by selling at higher prices than other merchants. Weinstein's said that electric toasters would be cut from $28.5 to $21.19, and electric razors from $24.60 to $19.50 and

cigarette lighters from $0.00 to $5.29. United Press,

Review Of

NY Cotton

Futures

New York, June 3, Cotton futures were a dull

Saturday. The markets opened Irregularly lower as colling far- tors came into play, meeting little or no buying response. Renowed rumours of peace, based on speculation that Britain individually. Production pros- and two-sided affair last week Is attempting to convince the peste differ from one commodity as dealers watched outaide Communists that a truce should to another and on the consump- developments for fresh trading

be called in Korea, 'bad a

depressing effect on the market

Prices closed here as follows:- Wheat-price per kaske)

2.5716-2.30 Spat Fisły Reptember

Milimen

in

Worth

However,

Rubber

In S'pore

Futures

►

AGENTS:

For Freights and Further Particulars please apply to:-

JEBSEN & CO.

Tel. Nos. 26661-3.

Fedder Building

BEN LINE

FAST SERVICE TO UNITED KINGDOM AND CONTINENT

BY

S.S. "BENLAWERS" LOADING HONGKONG 5th, JUNE

FOR

LONDON, ANTWERP & ROTTERDAM,

VIA

MANILA, SANDAKAN, STRAITS, COLOMBO, ADEN- & PORT SAID.

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

York Building.

75

Singapore, June 2, Prices in the rubber futures market here closed today follows:- Number rubber,

(per 1b."June

July August Number2bber.

Jurse

Number 3 rubber, Number 4 rubber,

June

Jum

Spot rubber, unbaled. Black crepe

No 1 pale crepe

Exchange

1451⁄2-2401)

430-15019 230-107

190-141

134-137

13049-1326 1471-146) 110-412 #55+10% -United Pres.

Rates

Business was done in the local unomictal

this exchango market morning at the foliawing rates:— Sterling note (per 1)

30,76 U.S. dollars (per 91) ******* Indonesia guilders (per 100)

027

3.70

Slam teals (per 100)

27.50

Singapore (Btraits)

FIC plastres (per 100)

Tel. 34165, & 38710.

STATES STEAMSHIP CO.

S.S. "COLORADO"

LOADING ABOUT 13th JUNE

FOR

VANCOUVER, SEATTLE & PORTLAND DIRECT

DODWELL & CO., LTD.

Agents

Tel: 28021/6,

mPacific Far East Line, Inc.

tion sido "the prospects are no incentives. At the close of the less varied."

week, the market. ruled 20 points and held the volume of trade at

Then

again there is the ques- lower to 30 points higher er off- light to fair. The weather was

tion of satisfying all the various 21 a bale to up $1.00 a bale again favourable for the gow-

interests involved, and the com- from the previous week. ing crops throughout most of the

miltees have set themselves an Nearby July delivery remain- nation.

onerous task by declaring that ed under the constant pressure

house the

and Now needs

of all interested of commission countries are to be given full Orleans liquidation, Influenced

of a conskleration and are to recolvaby

a softer tane treatment with equal

those in the spot mass rallied after a

Vanel positions de buyin. Other Lower

"GROEGE LUCKENBACH” by the The central group also reveals

encouraged

ptioning Dat with two exceptions the Communist resistance in Kore "MATOR LUCKENBACE" committees have initiated it and the less optimistle outlook

"OFOROK LUCKENBACH” study of allocation systems. When for a quick end to the conflict

the with

need for they

10T WEDGAD, LUCKENBACH" down to recommending deilalte, steps to alleviate the folrain in cortions of 140 and Fastary belts. shortages they may be up against Central their greatest dificulty,

Atlanta and Memphis advices

BAI92-15

December

2.4512-6

Cora aput

September December

1,70-1,50! 193

1.123-1

Rye

Oversea Chinose Steamship Co., Ltd.

MAY

July

}

48 Bonham Strand W. Tels: 26640, 20127 & 31119

GALE

May

represented

on any

start on

Fast Regular Trans-Pacific Servico

OVERLAND

NEW YOUK-CHICAGO DETROIT-TORONTO · MONTIKAL AND ALL AMERICAN & CANADIAN, CITIES

DIRECT

SAN FRANCISCO, LOS ANGELES

#TOZE

San Francisco San Franciaco

Arrives

Jun. 14

สนิ

Strait

Strait:

· Jun. 14

July →

- Jun. 2

Jun. 18

July 4

Strella

July 10

July, 17

For

San Francisco # Los Angeles Ban Francisco & Los Angeles Ban Francisco de Los Appoin

vis Kobe, Nagoya &"

In the words of the report, reported persistent Ught demand For fall particulare call United States Lincs Co., Gerismi Agents, Queen's Bufiding, Tel: 28105, New York flour-per 200 b. anokhe results obtained will depend for spot cotton-United Frest,

Closed-Ualted Press.

15