1951-06-14 — Page 9

Page

J

R.I.L.

ROYAL

Date

to Post

Ship

INTEROCEAN LINES

**EJIMENTANG" "RUTS"

*TJIWANGE"

ARRIVALS

ta Port

-15th Jube

16th

th

June July

#TJITIALENOKA"

16th July

**RUTS"

10th Jun

17th June

"VAN REUTAZY

"TJIMENTENO"

"VAN BEUTAZ"

TJIWANUI"

21st Juh#

25th June

**RUYS"

"RUY"

10th July In July

From

R. America, R. Atries & Skagapore, 1. America, 5. Aftien, Hingapore à

Nalgon

Macacuar, dava Ports & Singapore.

·Japan

Macassar, Jaya Porte & Kingapore Гарап.

BAILINGS

"TJTJALENGRA“

To

Japan via Manlis.

Singapore, Penang & Bel. Dell.

ingapore, Java Porte & Macassar. Japan.

Singapore Java Portacamar Mania, Singapore, B. Africa & S.

America.

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Date

. Ship

nd July Mid

A cus

"KIELDRECHT" "KIELDRECHT "AAGTEKERK" "AAUTEREAK”

SAILINGS

10th June

Parly July

19 June Early July

"KIELDNECHT "KJELDRECHT" "AANTEKERK" Angus "AAGTEKERK"

End July

Mid

From

Rurope & Singapore. Japan.

Europe & Singapore

ובין ב!

· Το

Japan via Manila.

Manila, Singapore & Europe.

Japan via Manila

Marla, Bingapore & Europe

PATTISON ORIENT LINE

LIMITED

DIRECT SAILING TO PUSAN

S.S. "LAURE PATTISON"

Due:

In Port

Salling:

June 14th

SAILING TO NEW ZEALAND

9.9. “VALLES”

LOADING HONGKONG JUNE 22 FOR AUCKLAND & WELLINGTON.

12-14 Queen's Road C.

Chinese Agents:

Tel: 25346.

Oversea Chinese Steamship Co., Ltd.

48 Bonham-Strand W.

Grants To Far East Countries

Tels: 25646, 26127 & 31119

New York Sugar Futures

New York, June 13. World sugar futures closed foday 1 to 7 points higher, with sales totalling -154 contracts.

Contract No. 6 closed today 2 lower to 1 higher, with sales totalling 129 contracts.

Prices closed here today as follows:

Contract No. € (wortd>

Washington, June 13. The Economic Co-operation Administration authorised the Philippines today 10 spend $1,130,000 for recovery goods,

July September The sum included $1,000,000 January (1952) nitrogenous tértilisers from the March

May

7.48 bid 1.40 traded

6.40 nominal 5,48 nominal 0.48 nominal 0.49 bld 8.49 nominal

7.50

Contract No.

U.S., Canada, Chile, Western July. Germany, Austria, Belgium and September the Netherlands; 479,000 for con- Bpot struction, mining and conveying equipment from the U.S. and Ful

September Japan; $50,000 for scientific January (1952) Instruments and $70,000 for March motor vehicles.

May July Other Far Eastern allocations Spot

September Included $347,000 for Burma for metals, machinery, medicines and motor vehicles; $189,000 for Formosa for tallow; $91,000 ter

.

THE CHINA MAIL, THURSDAY, JUNE 14, 1951.

Mixed Session State And Shipping:

In

London

London, June 13,

The London

Block Ex-

change traded through a

today light pension

with price movements mixed.

Government issues cases fractionally on Lalk of dcarer money, Smalt plus and minas signs sprinkled the industrial fist. Motorn and aircrats stacks gen- crally were stronger.

The Financial Tunes' dally Index: 140,4.---Ax- Roolated Press,

WALL ST.

HAS SLOW

4

SESSION

New York, June 13. The stock market closed to- day with a mixed price pattern after a

slow seaston

of Irie Kularly swinging prices.

Prices were

a shade lower to in little above a dollar a' share higher among the leaders. Trading WAL about 1,000,000 shares in contrast to a dally

about of

1,700,000 average

thus far this year.

Shares Of

The Risks

And Profits

London.

Much has been spoken and written in recent months on the incidence of taxation upon the ship- ping industry in this country, says the Journal of Commerce.

HONGKONG

SHARE MARKET

(From Our Correspondent)

We have received from a leading shipowner a

Business done on the Block Exchange this morning was document phrased in the form of a partnership valued at $318,118. Noon prices agreement, which states in a dozen paragraphs, his and the morning's transactions: interpretation of the relationship between the BANKS Board of Inland Revenue and an imaginary ship-INSURANCES ping company, which he calls the "Golden Eggs Shipping Co., Ltd.”

The two parties to the agreement are described respectively as the sleeping partner and the working partner, the onus being very definitely upon the lat-

tor.

of

emelency in comparison with the fests of its foreign com- | petiters, irrespective of the more favourable terms of taxation which those competitors may enjoy.

The document is drawn up in the style of heads of årrange-] ment of partnership agreement flax computation) between the Board

Inland Revenue (hereinafter called "the sleep- WOR the ing partner") and the Golden

EYES

Co., (hereinafter called "the work- hereby acknowledges that any-

Shipping

Ltd.

ing parmer"). It reade 09 follows:

Benguet Mining fourth most active stock, clos

ing at 1. down .

Rails were mixed, steels un- changed to lower and motors mixed. Olls kept to the high side most of the day.

Dow Jones Averages:– Stocks

21

The 'risk capital' re- quired for the purchase or acquiry of the ships and other 91.01 plant needed to establish and 250.03 maintain the business shall be 78.21 wholly found by the working 42.56 porines.

20 Industrials

15 Rails

10 Utilities

-Amociated Press.

Giant Plane

May Start

New Tests

London, June 13. After three and a half years

idleness in dry

tock In of California, the biggest aircraft in the world is once again being prepared for the air.

This

almost forgotten giant is the

Howard Hughes eight- engined Hercules flying-boat, which has cost the American Government about £6,000,000 and Howard Hughes almost the same amount.

It is believed that the ply- wood-bulle

whose air-bont,

320ft. wing-span is 90ft, greater than the Brabazon's, is to | begin nov fight tests next month. It has flown only once- In November 1947.

There is much secrecy around the preparation of the big flying-boat for its new trials.

There is a theory that it may ultimately become the world's first atomic-engined

plane.

Work has already started, in the United States on the design of

atomle-energy plune engine, and it is known that, to carry the weight caused by the huge shields necessary to guard against radiation, the first atom-plane will have to be something like the size of the Hercules.

The flying-boat is 218 feet Jong, against the 117ft. of the Brabazon,

The wings, where they join the hull, are 52ft. across-London Express Service,

Grain

Prices

In Chicago

Chicago, June 13. Prices of grain futures closed here today as follows:- Wheat-price per bushel.

2.3016

Spot July Beptember

December

March

MOY

Cora

Spot

6.10

United Pregi.

July September December March Кур

July

Boptember

1.7236

1.07% bu

1.00 1.05

July

Indo-Ching for medicines and Keen Bidding In

$42,000 for Thalland for technical assistance-United Press.

Mexican Beef For Britain

Wool Sales

Bydney, June 13. Competition was keep at the final wool sale for the season at Newcastle today. However, the market showed some ir- regularity.

September

New York four-per 200 1b, ak, $11.30-United Prem.

NO LIABILITY "10. The working partner

thing done or not done by him which

the would result in businem becoming bankrupt would be contrary to the spirit and intent of this agreement and is therefore to be avoided, but nothing herein contained shall be deemed to bring the sleeping partner into disrepute The annual profit earned

to put him under any

whatsoever by the business shall be divid- lablilty

the ed, in the

first instance, be- business becomes bankrupt or tween the partners

Incapable of being carried on under the terms

in force from

of the time to by

sleeping partner's association with it. time, in regard to income tax

**11. profils tax, but nothing offence for the working part- It shall be a criminal And herein contained shall be strued

on nor to attempt to remove the as to have

business

any

resyon

Gut

limiting effect on the right of Kingdom without

of the United

the consent writing of the steeping

the sleeping partner at any in

and with ap- partner. time to devise,

4114

proval of Parliament, impose, other taxes for the purpose altracting to the sleeping part-

by this agreement for so long as the business continues, ner a greater share in the pro- and no unilateral alteration in fits of the business. Subject thereto and dependent on the extent to which

working the partner exposes the business to distributed

tax, profile

the minimum share of the

year sleeping partner, 1951, of the shall be 73.75 per cent and the; minimum share of the working partner 28.25 per cent of the total

divisible between SUTTY the partners.

art bound The working partner is

NO OBLIGATIONS

"3. The sleeping partner shall be under no obligation to devote any particular time and attention to the business and, in fact, will devote none. The working partner shail, vis-a-vis the sleeping partner, be under no such obligation, the sleep- ing partner being content to know that it must be the aim of the working partner to foster and promote the business, with necessarily resulting benent to the sleeping partner if he succeeds and without detriment to the sleeping partner if he falls in that aim.

+4

its terms shall be competent to him. The sleeping partner Forliament, at any time alter may, subject to the approval of all or any of its termes irres. pective of the working part- ner's consent,"

NY Cotton Market Improves

New York, June 13, Prices of cotton futures closed here today as follows:- Spot July October December March 11052)

Ahry Judy

October

NEW ORLEANS

Spof Jay

October December March (107) May

October

In computing the annual profit, under paragraph 2 above, allowance may be deducted for the year's wear and tear based on the original historic cost of the ships, but it is to be under- stood that the sleeping partner July accepts NO responsibility and NO charge for making any provision whatsoever for the extra

and cast of the worn torn tons of steel due to current rises

in price, owing to the fall and devaluation of the £ sterling which is solely the responsibility of the working partner to and out of his share of the profits under paragraph

above.

NO SHARE OF LOSS "5. The sleeping partner will Invariably take his share of the profit (if any) but will bear no share in any loss that may bo incurred.

40.00 nominal 4450-44,5)

3241-3753

37.30-37.31

-37.30----

37,17

"

BHARES BUYERS SELLERS BALEN

1K Bank

571-420

1410

Union XD ..71231⁄2

720

Underwriters SHIPPING

311

L

8300 I

12

**

TO

11⁄2 1800 4.40

12

10 101%

100 211

01

Aria Nay... DOCKS, MG. K. Whart N. PL.

What XD Dock Provident Wheclock...

LAND. ETC.

HK Hotel HK Land XD 3045

S'hai Land

Humphrys 13

UTFONTS

Tram

1000

12 * 46

11.35

C. Light (0)

Light (N) 3.00 Light (3)

1000

8.00 500 5.03

108,70

420.4 5.80

23 23! 3333

0:00

3.85

200

231

014

500

932

Electric

Tel. KD INDUSTRIALS

Cement Rope STORES, ETC.

Dairy

Waisen

12 13:4

Crawford 2015 2015

COTTONS

Ewo

$*gg

1600

4500

23

MESSAGERIES

M

"FELIX ROUSBEL" "EPINAL"

ARRIVALS