1951-06-11 — Page 9

Page

MESSAGERIES M

"BASTIA" "EPINAL"

ARRIVALS

.from Halphona

from Europe SAILINGS

THE CHINA

MAIL,

MONDAY, JUNE 11, 1951.

MARITIMES EUROPE'S Government To Press

M

PASSENGER/FREIGHT SERVIOR

"FELIX ROUSSEL"

to Marselles

"LA MARSEILLAISE ... to Japan

"LA MARSEILLAISE"

"BASTIA"

"AURAY"

"QUISTREHAM"

10 Marseilles

FREIGHT SERVICE

13th June .18th July

23rd June 11th Aug. 22nd Aug,

N. Africa & Eurono 15th June N. Africa & Europe 18th July ...N. Africa & Eprope 18th Aug

for

PORT BAID, TUNIS, MARSEILLES, algiers, oRAN, TANGIER, CASABLANCA, HAVRE. DUNKIRK, ANTWERP & ROTTERDAM,

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel. 20651 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO;

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

ARRIVALS FROM U.S.A.

M.S. "CORONA"

M.S. "ANNA MAERSK'

M.S. "LEISE MAERSK"

M.S. "GRETE MAERSK❞

M.S. "OLGA MAERSK"

M.S. "LAURA MAERSK"

AGENTS:

June 18

June 30

July 16

June 28

July 19

Aug. 9

For Freights and Further Particulars please apply to:

JEBSEN & CO.

Pedder Building

Share Boom In London Continues

The

Tel. No. 26661-3.

Wall St. Continues Cautious

ECONOMIC

PROGRESS Ahead With Colonial

10-Point Programme

Outlined

Paris, June 10,

The 18-nation › Organisa-- tion for European Economie Cooperation, in its third annual report published to day, set itself a 10-noint programme aimed at main- taining Europe's economic progress despite rearma

ment.

The report said that the over- ng problem was to continue driving das complete recovery while keeping up the prosecÝ: defenas effort.

The report

declared

that

action would have do be taken Alates but by chi ather mailons associated in the common defense effort, wherever that was possible. Above all colla-

not only by dhë 10 Marshall Plan

boration with the United States and Canada war of the utmost Importance.

The 10-point programme, the report said, contained the general lincs which Q.E.E.C. members mus pursue, both individually and in common.

The poin's are:

(1) A vigorous attempt to increase production of key materials to Western Europe and

(2) In

ter ritarica.

the

overseas

เด

(3) Concorted measures спвуго that scarce materials are used where they are most urgently needed.

(4) Measures Lo ensure oquitable distribution of these materials among the

scarce nations.

(5) Ménsures to Increase agricultural production not only to feed growing populations with more money to spend on

food, but also to help solve balance of payments problems,

to

Development Schemes

(FROM OUR own corresPONDENT) ·

London, June 10,

R.I.L.

ROYAL INTEROCEAN LINES

Dále

In Port

In Pott

14th Jun 14th June SIN FRO

Mr James Griffiths, Secretary of State for the Colonies, said in his Annual Report this week that the rate at which Colonial development programme can be carried out will be affected by the rate at which ữ materials like steel can be supplied, as well as finance.

The Government, however, is determined to press ahead with the policy of Colonial development in spite of the complications of the world situation. The voting of an extra £20 million under the Colonial develop- ment and welfare legislation is proof of its determination not to allow the development programmes to lag,

At the same time, however, the Government has impressed on Colonial governments the need, in forwarding their development plans, to use their own financial resources to the maximum de- gree consistent with financial stability and to strengthen these resources by encouraging schemes of economic development,

to

In his Report, Mr being prepared allow the proceeds of loans to Colonial

used be Kovernments 10 Griffiths noted that as a re- ault of the war

In Sterling and the roarmament needs and local

the

in Korea financomes.

narrowing

HONGKONG

SHARE MARKET

From Our Correspondent)

Business on the Stock Ex- change this morning was valued the morning's transactions:- SHARKS BUYERS, SELLERS JALSS BANHE

States, higher prizes were interest charged by the Interna- being pald for certain tional Banks and those ovialped Colonial products, and some on the London market is another territories were again factor which may well open the

way to use by Colonial govern=¦ threatened with inflation:

ments of the facilities provided by the Bank.

of Britain and the Unitedaterengo bolween the rate of at $217.764.70. Noon prices and

..

Hi Bank 1300 102 East Asia INSURANCES

710

Union KD..

DOCKS, ETC.

N. P.

Wharf XD

Dock Provident LAND, ETC. HK Hotel

B'hal aid tum planin

TIDIES

Trom

帽

-17 1300

400

110

5073034

1$ 200 0 20

4.30 4.40

DX1-2014

ਸਤ

In 100 0.11.TO

(0) AD

€ 200 @ 1.09

C. Light

(N) D

2. Light

(B) X ....

Birctrio

5.70 $49

The increase in the cost of

all raw materials has STOCK EXCHANGE enriched some Colonial territories but

time it has Industrial at, the same

made equities diminished the capacity of this further gains this wock, and the country to contribute all it Financial Times industrial or- would like to do in the form of dinary shores index is now with- Anance and

one point of goods to forward in less than Colonial

Sentiment has development pro-all-time peak.

been influenced by good again grammes.

company results and further that the dividend Moreover, the problem of in-indications flation in Britain takes the form freeze has definitely melted PRODUCTION DRIVE

in of rapidly msing prices while

away some Colonies 1 has appeared Now that the May figures drive (0) A conţinued

in the form of a rapid rise in have been added, the Financial increase productivity generally incomes from their primary during the Arst five months of Times' profits table shows that - by well directed investment

is not to say policies, technical assistance products. This

that

from increased

this and malaionance

year grass missions

Profis

profits in all | INDUSTRIALS of raw materials has spread its sections, including mining, o

Hope internal financial stability.

STORES, ETC. benefielent effects equally

and plantation enterprises," was

Wetagn nearly £195 million, an increase of 22.9 per cont on the returns the previous accounting tia are passing through a for

of comparative prosperity periods. to be taken as evidence that

After

provision for deprecia- they are less in need of outside tion toxation and sundry other assistancy, It is,

direction in up, earnings for equity showed which the home Government's an expansion of 80 por cent.

Most of this, however, was polioy may be shifting.

Industry into ploughed bac

and Mr Griffiths Report devoles a the ext

the extra cash distributed in a whole chapter to Colonial

10 per cent increase in

net it notes that dividends of £71.8 million, was certain Colonial governments only £6.4 million. have increased their revenues

Company results announced during the period under review this week included Courtaulds,

August one of the leading companies in by raising the income tax

Number Industry, which

Juna be done in this showed companies and export duties. the rayon More might

a doubling of gross Number direction before the effects of profits to over £17 million. rearmament and the worldwide run their full shortages have course.

Hons

лог

(7) Intensifed efforts to help some European countries over-roughout the Colonial popula- is the fact that some come structural problems which prevent them from making full use of their human and physi- cal resources.

(8) Further reduction of trade barriers and measures to

prevent the raw material short- indication of the wover, an charges, all of which have gong Rubber Futures

of

age from creating now ones.

(0) The continuation of the fight for

balance a stable Dayments by all O.E.E.C, mem- ber nations.

(10) Strenuous efforts on the part of member nations to con- inflation and maintain trol stable internal anançes

On this last point the report eaid that it would call both for measures to maintain a proper balance for higher wages and salarios. The emphasis would

action,

the report said.-Router.

New York, Jane 10. London, June 10.

Stocks made small gains for London's boom in "blue chip" stocks took a fresh the second week but the volume remained low, averaging about

ance in which week. 1,000,000 shares each session. lanse of life last

market news continued dull Some of the leaders like

ad. with investors cautious pending Imperial Chemicals

developments in the foreign vanced only Bd. or so, but situation. others

ahead Automatives xored test gains. moved

Chemicals scored wide gains "strongly."

up more than Mongunio will Courtaulds, despite consider-2 points and Allied Chemical

1 tran when bumained

MOTE

point. able profit-taking per earnings and an increased Chrysler felt 2%. General Motors

equities dividend were announced. gain-

ed 2/-lo 51/, Dunlops rose 1/08, modest gains. and rails were to 67/3d, grid Ford motors higher with some gaining more

than a point coch.

be

on

national

on

JAPANESE BONDS"

Now that investors have got used to the idea of bigger prar fits and better dividends they are spreading their nets wider

few meters have combined Grain Prices Report, "In conditions of rising in scurgh of shares in companies

not

Lower

able to

not

In S'pore

Singapore, June 8. Brides of bbpr futures closed as follows:- Number 1 rubber, per lb.

June July

June

Number

June

14th June 13th

tud Juni

June

FOL Joly isth July

Akip

"TJIMENTENG" "RUYE'

ARRIVALS

"VAN BEUTSZ" "TJIWANGI" #JITJALENGKA"

TJDMENTANG" HAN DEUT

"RUYA"

From

8. Ameijis, 8. Africa & Singapore. 8. ACUTER. §. Africa, Alagapore &

SAFOD.

Зарад

MSPRISET, JAYa Porte & impéndors, . Mickor, Jays Torta & PopupDPTO Japan.

SAILINGS

TJITJALENGKA"

To

Japan vis Manila. -

· Almenpore, Forlánx & Del. Bell. Kingsport) Jhún "Parts & Macassar, Japan.

Singapore, Java Porin Macaesar Billa, Singapore, 6, Africa & S.

Americk.

Agents: HOLLAND EAST ASIA LINE

A

ARRIVALS

Date

12th Juma 14th Barly July

Ship

VARHNDSKERE" "KİELDERCHT"

13th June 11th June Surfy July

From

Japan.

Europe & SingaDDṬY. Зарад.

SAILINGS

"ABENDSKREK" "KIELDRHONT "KIELDBECHT“

To

Manila, Gingapore & Ekrope. Japan via Kekkila,

Manila, Singapore & Europe.

PATTISON ORIENT LINE

LIMITED

DIRECT SAILING TO PUSAN

Due:

Balling:

8.S. “LAURE PATTISON" In Port -June 12th

·SAILING TO NEW ZEALAND

8.8. “VALLES”

LOADING HONGKONG JUNG 22 FOR AUCKLAND & WELLINGTON.

152-153

100÷148-

rubber.

145-140

12-14 Queen's Road 0,

rubber,

Spot rubber, unbated Black crepe | NG." ozle crene

102-172 United Press.

included among the leaders. Molybdenum To

of dealing this week a marked Improvement.

were

to

Be Controlled

Washington, June 10,

ONLY SMALL PART Mr Griffiths said in his Annual

1/0d, to 60/Ud.

and increasing index of average price to stop inflationary trentis, at The

burdons arising from develop-Volume least temporarily. First, The of leading industrials closed al

ment schemes, fundamental im- showed

he altached to all-time 130.7.

pealt credit restrictions placed by the

portance will The

Olis

the main 9gain the revenues of strengthening roached in January 1047 at the Government to stop inilation are

feature in the markets. A Less Colonial territories top of the immediate post-war holding down'sales of such items

pessimistic view-If not exantly as television and autos. Second,

ensure that they are boom was 140.6. 11. the mar-

Chicago, June 10, ket now rises above that level large inventories are forcing

dispute, together with The Defence Minerals Ad Prices of grain futuras were maintain and gradually expand in optimistic one-of the Anglo- tower breaking. merchants 10

their without immediately

lower, continuing the sell-oft in their social services."

the favourable showing of the ministration said i will place will that

Felday's market during most of according to prices, since scarcities due to mean,

molybdenum concentrates under accounts be consolidated Consequently, after the extra "SOD chart followers, that investors defence production have

by Shal, led to an Government controls on June 30. requirements of research and published

James Jate in a mass have changed their resulted as quickly as expected.

Trage believe Third, the announcement of lay dealings.

surveys have been provided, the active market in the leaders In

Admin Fed, Defensa Minerals minds and no Langer

said that after Soveral contracts

this section. further in the present

circumstances offs by the automobile Industry came

bonds

data, delivery and receint Japanese came up from extrema lows of greater part of the

million provided for Colonia that prices are too high, even because of shortage of critical the as short covering and

likely additional Evening up for

development is

to be outstanding feature in the foreign of glybdenum concentrates will buck to January materials. if they pro

the devoted to

that are pond regalon. These made good be permitted anty pon schemes 1947 level.

written authorion Ford announced that 50,000 week-end

into play. como

especially tho four

The ander agency. Japanese bonds rose under workers

bo will discharged However, the weakness of the economically productive or are rains,

basic to future economic develop per cent 1898 Issue, on prospects tho theory that the outlook will indefinitely in the next two opening persisted throughout

of early settlement of peace exports and domestic shipments.

-Assoolated Press. improve with signing of the months, General motore closing most of the trade when liti}=

Terms for Japan. a Some, like the| from July 28 to August will PERCO Treaty.

demand appeared to offast the 1800 loan, rose £5 to a new effect over 200,000 workers. selling factors. high for the year of £53-14. A four per cent "productivity" Wheat-pris per bughet. but others like the polive 1830

groated sutomobila increnso Lean rose andy £3 to

workers is likely to be more

£82-12

sesion at the Board on Saturday

There is a lot of pessimism than offset by unemployment December in the market about Japan's until defence orders catch up. ability to resamme her service

Defence orders are going to

On

the Sterling debt. Other factories at a rate of $1,000,000-

000 a week-United Presa.

foreign lean including Germon

were idle,United Press.

of

Inquiry Bid Rejected

RUSSIAN. WHEAT

FOR INDIA

San Franeleco, June 10.

paid tonight Peking Indio that two alilipments of wheat for India reached Bombay fram the Soviet Union by the as ang Krasnodar and the

on June and Jun Mendeleev

Washington, June 10. The Tariff Commission

In all, 30,000 tons of wheat would be shipped to India by Russia in June, the Badip add- quoting p New Delhi

Rouler

noureed that it has dismissed a roguest for an investigation af dyed or coloured Imports stencil sit

A New York firm had asked for investigation under

the $4 clpuso of the general Anton tariffa and trade. | Such

when a firm fools that the im port duty should be raised to from Proiect domestic industry. Low-price competition.United Press

QUAKE IN JAPAN

Tokyo, June

A devora sariliquške rocked

Wwadwo Prof solare in Demirel Japan today,NO SAIRAO WI

JAPAN'S OUTPUT OF FIBRES

Spot Jay September

March Cora Spot

2.3034

2.44% 1.2415

July

1.70

Beptember

December

March

143 3.601%

1.03

By July September

July

Beptember

0136-41 New York four-per 200 lb. "Back. 1150-United Press,

ment.

+

were

an

Mr Grimths explained that Kafira were one dull spotign. the £20 milllan represented but these brightened up later

portion only a small

of the when Mr Snyder, US. Secretgry Anancial assistance which of Treasury, came down heavily Colonial governments would on the side of the Hanifrovalúa. need in order to implement flonists. their

more important develop- ment projects. It was especiall

important, therefore, that the 如 spent in the money should best possible way. No general system of allocation to individual territories was to be employed. The greater part of the money would be held in roservo for allocation during the next five years to schemes of the greatest priority and urgency particu Jarly

whose In Teritorion financial aituation

do. has

been or has not markedly improved, as a róxulf of rearmament impąets.

U.S. INDUSTRY teriorated

RECORDS

010

The

thui

Chinese Agenta:

Tel: 25946.

Overson Chinose Steamship Co., Ltd. 48 Bonham Strand W. Tels: 25046, 20127 & 01119

STATES STEAMSHIP CO.

the his

S.S. "COLORADO"

to

Exchange Rates

Business was done in, the loss!

market. glit.edged market gained igenialal kemijto

support at the end of the weekening at this fallowing rates:==

despite the further half-yearly open for 10

million of coat | sdonkstų guilders (bey 100) 3 roue of 19

compensation stock.

Trade Pact Concluded

The Hague, June 10. A preliminary trade arrango- Desplie this some Colonjos are ment between the Netherisrids still in need of putelde Annage and Spain, providing for an ex- to enable them to complete their change of goods valued development programmes, and 80,000,000 Gulders has been row not surprising therefore, concluded here, the Dutch that the queue of Colonial Ministry of conemple Aspira

| knnounced) borrowers walling to raise Jeane

form

་-༥-་་་

Siam tease_fper 350)

PIC Vlasires (per 1001

LOADING ABOUT 13th JUNE

FOR

VANCOUVER, SEATTLE & PORTLAND DIRECT

DODWELL & CO., LTD.

Agents

Tel: 28021/6.:

Pacific For East Live Inc.

HAN #HANGINGO, "LAS -

in London a beginning to room or the AT NA

Nelierlends clude: iron ore,

New York, June 10.

FAVP an excellent Industry account of itself last week de

restrictiona materials and price control bat- United States Steel Company, Tokyo, June 19. The output of all chemical for instance, reported a new

The recent experience of the fibres, except rayon, established aileting mantbly record in May. post-war highs for the month 2,050,408 tons of ingots from the City Council of Nairobi, show of May, according to the Inter- furnace of is Pittsburgh and willing even

that private investors Trade and Industry

Chicago district plants.

BADUCTIONSA រ furnaco aku!!

Colenial. Joon Ministry

regghça tepla Onia works

the terms are Younts 21.00 Paulo en trebuie in a recantile else interesting to nato ore, chen,

Fin hindiégek) angisan, mineraligat Nylon purtout reached :: 134,000.| breaking” four months and 16 | shot Məz. Grimths- adid pounds, palyamid, 65,000-pound" | mywer Tum job, usually jakos Repers that there are randinavia, alsmenios?

nine months to a year. Asr : próspartans of the International | dyos and Taven 41,5 pounds,

sociated Press.

di Bank in certain groumstances

United Press,

na

licz, ting om, long in blocks, rágokÓR LVORBIS Twincs elmande, Bute; "OZOBOR LYSNING npplect pulp and oplath. v.

The main Dutch experia to "RDGAR LUCKENRA

Fret Regular Tranë-Pasifle Service

OVERLAND

|_NEW* VORU+CHIPADO PETRDIE TEMONROD"} MONTREAL AND FALL, AMERICAN ■' CANADIAN 'GIFTER

Απέτει

San Francisp dan Prakolaça

| diretta

traits

Juty

For

San-Francitos.