THE CHINA MAIL, WEDNESDAY, JULY 4, 1951.
Pattern Of World Trade:
Talks On
R... UN ORGANISATION REPORT: Newsprint
ROYAL
INTEROCEAN LINES
Date
July
10th July 10th July 24th July 21th July
31st July irth. Aug.
11th July fith July
1th July
1st July
2nd Aug. trd Aut. 2018 Abs.
Ship
ARRIVALS
"TJTJALENGKA" "VAN HEUTER" "BUYS"
"TJIWANGt" *BOISSEVAIN"
*TIISADANE”
"DOISESVAIN="
L
From
Ataensuar, Java Poria & Singapore Belawan Doll, Penang & dingipUE Зарад
anar, 21, Forte
are
8. Ameris, 8. Africą Bingadore
3. America, 2. Atelça, & Sinqapers,
Japan
BAILINGS
"VAN HEUTAZ" DEJTJALENGKA”
"RUYS"
"BOJJSEVAIN”
TISADANE"
PENWANOF"
"BOISSEVAIN"
Japan
Ujakarta,
Memar
B. America
Japan
Το
Bemarang, Sazabaya
Maalla, Singapore,
Japan
*
9. Afties &
Ringapore, Jaya Ports & Macaesar
Manila, Bingapore, S. Africa &,S.
America
Agents: HOLLAND EAST ASIA LINE
ARRIVALS
Date
Ship
"KIELDRECHT" "AAGTEKERK" "AAGTEKENK"
WI July End July Mid August
15th Joty
End July
Mid August
"KIELDNECHT”
"AANTEKERK"
"AAGTEKERRY
From
Japan Europe & Singapore Japan
SAILINGS
Τα
Manija, Hinsspore & Europe. Japan vis Manila
Manila, Singapure & Europe
KINGSEBOILDING, TELLPHONES/22401531 OPPRETTERE
European Output Of Steel On The Downgrade
Geneva, July 3.
Shortages of scrap, iron ore and coke are be- ginning to affect adversely steel output in Britain, Western Germany and France, Western Europe's chief producers, according to figures compiled by the United Nations Economic Commission for Europe.
Estimates in the quarterly steel bulletin show that Britain was turning out steel in April at an annual rate of 17,000,000 tons.
Were
not for a shortage of scrap and iron ore, It could
an
Attempts To
Widen Cotton Rally Fail
AMERICAN MOVES TO HALT
MENACE OF INFLATION
London.
--In London, Mr Hugh Gaitskell, Chancellor of
the Exchequer, commenced negotiations with HONGKONG representatives from Pakistan, the object of which is the release by Britain of some of the sterling funds which we have been holding.
During the year ending June 30 Pakistan, under a one-year agreement, can draw £15 million. Sho wishes to fall into line with India and Ceylon which, under a six years' agreement, can draw upon the funds for the purposes of their contributions to the Colombo Plan.
SHARE
MARKET
From Our Carrespondent)
Shortage Called Off
Paris July 8. The United States and Canada today forced with drawal of a plan to call a new international conference on the shortago and high price of newsprint.
Raw
•
#L
The proposal had been made by France and Belgium at the an nual conference of the United Nations Educational, Scientifle and Culturat Organisation (UNESCO).
The opposition pointed out that the International Business done on the Stock Materials Conference
morning was Washington. has already formed Exchange this valued at $400,903.30. Noon a wood pulp and paper commiş- These three countries have
"Since this policy requires the prices and the moming's teams-tec. joined with Britain in aiding the application of a greater pro-actions; development of the countries in portion of the country's man- East and South-East Asin, par-power and materials to SHARES DUYERS SELLERS SALER ticularly by irrigation, construc- | armament and capital goods than tion works, and agricultural in the past year. it nisa re- projects.
The primary object of the Colombo Plan Is to raise the standards of living and, in con- sequence, the purchasing power of the peoples to the east of the sub-continent of India.
|
BANKS
HIK Bank .. 1400 1400 10 a 1461
East Asia
Canton Valon UnderwrkerE HK shipPING
10 a 1470
100
250
730
3.40
140
800 € 3.50 host
3300 #
1
70
1040 .2.20
77 130 @ 77
noa 10.59
presents an Inflationary danger. unless there is a corresponding CS diversion of purchasing power from consumers goods armaments, · primarily through insation, and to capital goods, primarily through saving and investment.
F. A. O. REPORT
"The danger is simply that the Coincident with the news that diversion of purchasing power these negotiations had begun will fall short, and that the total came a report from the United of government and capital goods Nations giving details of the expenditure will execed the total steps which the Food and of taxes and savings. In that Agricultural Organisation case the deficit will have to be (F.A.O.) has taken to lead to financed by expansion of credit, greater economic development and there will be an addition to in agriculture, Asherics, forestrymonty purchasing power with- and nutrition.
out an equivalent increase in the The
listed some of the supply of goods report
for the co- seven projects which the F.A.D. { sumer." has already completed and of the
54 it has initiated. They range
SOLUTION OF PROBLEM
from the breeding of Karakul The article then points out that
sheep survey's nutrition
Pakistan.
In
In
Afghanistan,
Asia Nav DOCKS, ETC. K. Whart Dock -Providens
S'hal Dock
LAND, DIC TK Hotel HK Land
ES
**
$.20 300 6 0.20
1100 10.40
Tram ... 13.25 13.70 2400 @ 1325 Blur Forty
C. Light (0)
ཚུ
03
100 # G
4500 0.70
-
The U.S. and Canada made
it clear they would not support the French and Belgian resolu- tion. A special conference, their spokesmen said,
cause confusion. then
Franco
and
necessary steps
would only
Introduced cubsutute resolution calling on the countries in the Wood Pulp
Paper
Committee "to take to ensure that the Committee takes into not only immediate account emergency needs for newsprint printing paper, but also long-term needs
and
This resolution was approved without dissent by any of the
member nations..
It begins by calling attention the dimculties being C. Light (16.45 085 12541 000 experienced by many countries
C. Lim (N) 3.00
26,75
2000 90 to
1000 @ 0.55 |
Electric
21 213 & 20.30 in getting newsprint. It notes
9700 20,78
with satisfaction the creation of Telephone 10.85 1900 10.38 the Wood Pulp and Paper Com-
· 18% 2700 € 11,75 mittee, but notes also that it is not constituted as a permanent organisation. 14 1100 t
1400 18
Kop
INDUSTRIALS
Cement STORES, ETC.
***
13.75
(3.73 1745
2.20
6000
1.20
Dairy Wotron
COTTONS
The Rubber
soll to keep the situation in balance
Ewo Ecuador, and the problem should be attacked education in Finland from all sides. First, non- to the training of agricultural detence expenditure should be economists and statisticians in reduced,
not only by rigid economy, but by elimination or deferment of pubile works
works and private capital projects that are HIG not essential for direct defence, or to support the defence pro gramme. To accomplish this the Government has powers over the allocation of materials, which, if used rigorously, can effectively screen and limit the amount of work which local governments and private builders can under
10
01
take.
Markets
London, July 3. Prices of rubber futures closed here today as follows: Number 1 rubber. In cents Augus
per lb.
September October/Decembur
42-14-44
projects Amongst various are (a) Jordan has requested advice
and on a development reconstruction
10 programme absorb the Thousands of Palestinian refugees who desire to remain in Jordan; (b) Saud Arabia has asked for a survey of land for Irrigation of arid soils to increase the water supply by and storage pumping
systems; (c) Syria would like similar assistance to reclaim over
teres
Second, Congress should levy 7,000,000
of 01
unused cultivatable land; West taxes not only for the purpose Pakistan needs irrigation in the of balancing federal receipts and Indus Valley; (e) East Pakistan expenditures, but for the purpose
- NEW YORK PRICE wants advice on the area be-of repressing private spending.
emphasis This implies the the Ganges and
on taxa-
New York. July 3. the tion Brahmaputra rivers, the irriga-brackets where the
or personal incomes in the
The Government selling price the bulk of the for rubber was unchanged today tion of which would create
increased spending power now at 52 cents a pound, but trade potentially fertile orea.
or alternatively, exists;
taxation sources understood that the buy- on 10 Eypt, where
reached of spending directly, by the img price will be reduced half a agreement has been. whereby
will provide position of sales ievies. PÃO.
cent to around 48-4 cents a to assistance in
credit, pound. Unlied Press. access control
government or private, be dimeult rather than
tween
RO
"(d)
ຕາ
work to
the cornworm, whe
which also attacks other Beldin order ip--avert-a
crops, doing damage estimated
at US$100 million annually, and wholesale substitution of credit
to Chile to help her expand and expansion
by
January/March Aprli/June
30-14-34
33-12-34
31-14 nemingl
United PrekL.
LONDON TIN MARKET
actually be producing ot estimated annual rate of 17,500,- 000 tons and possibly 18,000,000 tons at the end of the year.
The tables show French pro- duction running at an annual rate of 10,000,000 tong. It -newly-emerged
sborloges In sleel-making materials, mainly coke, could be overcome, it is
for saving and to estimated that output would risc yearly by about 1,000,000 tons.
modernise her fishery industry limit the use of credit to pro-
ductive
and.
non-inflationary Western Germany is proceeding
Now York, July 3.
research and development
purposes, to produce steel at an annual
schemes. Cotton prices softened when
Fourth, savings should be en-
London, July 3. male of 13,500,000 tons, but ex initial attempts to extend Mon- All this will take time before
and induced In all the schemes reach fruition. Their couraged
Prices of tin closed atendy perts here believe it could reach day's rally failed to attract any
ways-by fixing attrac- this morning. possible 14,000,000 tons if the Ruhr had followers. It was a typical pre-
Turnover was Inception, however, will bring a scrap
Steel production holiday session, with dullness measure of hope and of more ve rates on savings instruments, 205 tons, including 13 tons for
and cash. actually dropped in January prevailing throughout. The New
employment to the population. by appropriate publicity and February due to a shortage York and New Orleans Ex-
This,
latter
itself is an augury sales campaigns, and finally by of coat and cake.
changes will be
and for adherence to policies which will closed on
for politicni stabilty The tables show that the Wednesday for the Independence that increased purchasing power maintain confidence in the future British rate
of scrap imports Day
suuch needed to ensure the purchasing power of the money holiday. fell from # monthly rate of The market opened unchanged absorption of all the production saved,
5,000 tons last 105.0
year to only a up 11 points, dipped to 19
by the Western Powers which 50,000 tons in the first quarter points then closed off only 6 to 12
escapes the maw of rearmament. 1951, or by more than two-points on the day. thirds
more
of
The fall in imports was due largely to a considerable drop
in German exports and a drop to some extent in French ship- ments.
SHIPPING SHORTAGE
West Germany was producing scrap at an average rata of 220,000 tons a month last year but these fell to a monthly average of only 100,000 tons in the Drst quarter of this year.
Is that German Main reason
steel output rose by 12,000,000 tons la 13,500,000 tona. Also, German war reserves of scrup
arc
rapidly disappearing.
Iron orc
Prices closed as follows:- Spot July October December
March (1952)
May
July
October
40.00 nominal 44.05 30.37-38.33
15.09-36.00 39,02 nomina! 35.30 nomina} 24.05 nominal
NEW ORLEANS MARKET
December
39,82 nomina!
-United Press.
Closing rate. July 3:
Spot July
44.81 nominal
October
30.21-36.24
December
25.02
March (1052)
30.04
May
July
October
December
33.03 bid
38.07
34.07 bld
33.72 bid
-United Press.
supplies dropped New York Sugar
primarily because of shortage of shipping.
the
Futures
Now York, July 3. Contract No. 4 (world sugar
totalling 178 contracts.
In
YEAR SINCE KOREA
PROGRESS MADE
lines Along these
much being done, Progress is being In the monthly letter of the made in restraint of credit, both National City Bank of New York directly and through general Government on economic conditions in the monetary policy. United States, it is stated that expenditure in the first year end of June completes the after Korta has been more than of covered by receipts; with new first year since the beginning the Korean war and the en- tax increases in the making the largement of the US. defence cash defeli in the forthcoming
can For the next 12 Ascal year
the
MortimĘ.
+
be held to be held
running through June, relatively small proport 1953, few assumptions may be not completely avoided.
on non-essential projects confidently made. One is that tlons on defence expenditure will rise are operating with the voluntary programme to again by as great ar
an amount as credit restraint
expenditures in the capital
UNESCO, it continued, is
that convinced
long-term must solutions
be sought through international organisa→ tions, working if necessary with the associations of producers and consumers,
For these
iese reasons, pecording
the resolution,
UNESCO
to urges steps for the solution of both the short and long-term problema. It suggests co-opera- tlon with the UN and offers to co-operate by estimating world needs-Associated Press,
Irregular Market
In Grains
Chicago, July 3. Chicago grain futures moved regularly, with praft-taking carrying many deliveries lower Wheat closed % to 1% lower, soybeans were 29% higher to 33% lower closed today ̈
Prices follows:-
Whoat-price per bushel
as
MESSAGERIES MARITIMES
M
"EPINAL" "AURAY
ARRIVALS from Europe.
from Japan SAILINGS
M
PASSENGER/FREIGHT SERVICE
MARSEILLAISES . to Japan "LA MAREEILLAISE”
"AURAY" "GRENOBLE" "QUISTRENAM” "MERONG
to Marseilles
FREIGHT SERVICE
8th July 14th July
Dth Aur. 22nd Aug.
«N. Africa & Europe 13th July .N. Africa & Europe 28th July N.Africa & Europe 12th Aug ...N. Africa & Europe 30th Aug.
for
PORT SAID, TUNIS. MARSEILLES, ALGIERS, ORAN, TANGJER, CASABLANÇA. HAVRE, DUNKIRK,
"ANTWERP & ROTTERDAM,
CIE DES MESSAGERIES MARITIMES A LIMITED COMPANY INCORPORATED IN FRANCE Queen's Building
Tol. 28061 (Threa Lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vla
·BAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. “LEISE MAERSK" M.S. "GRETE MAERSK” M.S. HOLGA MAERSK”
..
July 16
July.30
Aug. 14
ARRIVALS FROM U.S.A.
M.S. "GRETE MAERSK"
July 6
M.S. "OLGA MAERSK"
July 19
Aug. 9
M.S. "LAURA MAERSK"-
For Freights and Further Particulars please apply to:--
AGENTS:
JEBSEN & CO.
Pedder Building
PENINSULAR
Tel. Nos, 36060-9,
& ORIENTAL
HOS PARA
STEAM NAVIGATION COMPANY
R. M. S. "CORFU"
"NOTICE TOTM PASSENGERS
BAGGAGE:
Spot
July
September
December
2.34 2.33%
2.411-14
SAILS:
•March (1052)
May
2.6412-15
Corn
Spot
$.7434
July
September
December
10015
Prices closed at the end of the official morning session as follows:
March (1952)
May
Ky July
1043
1.881) bid
201
Reptember
via
Gali
Busindes done at
904
July
Three-months tin, buyers
248
Three-months tin. sellers Business done al Settlement
September
1:08
731% 161-15
050
#53-845
903
In New
United Presa.
Spot Un, buyers Spot tin, sellers
New York, July 3.
New York four-per 200 lb. Back. 512.05.
FRIDAY, the 6th July at 12.00 noon "for
the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.
ALL passengers baggage must bè sant to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE BY NOON on THURSDAY the 5th July.
York, Winnipeg wheat SPECIAL NOTE: With the exception of hand packages
was quoted today at 2.20-United Press.
Copper, lead and zinc futures closed quiet. no cales-Ass Small Gains clated Press.
Quiet
Trading In Pepper
New York, July 3. Spice dealers reparted an the extremely quiet situation in
It increased during the post or field within what can be black pepper market as traders
the other
werk
to bring coal from the United futurça) closed higher with sales been so Br. Probably 'has nover | ¿xcise taxation, which is put basis the market was quoted af
Vessels which carry ore from Sweden, North Africa
and Newfound- being diverted land are now States to meet Europe's new coal donck. Experts here
Contract No. 6 closed 6 to 10 predict the shipping shortage
points higher, with sales totalling will case, however, as an in-193 contracts. creasing number are removed from "mothballe.”
The tables show that output of steel is going up well in Tinly, has reached its maximum
In Austria, and is proceeding |
at a rate never before attained and Larxembourg.
in Belgium
Nine western European coun- produce steel are
trios which
currently turning it out at an sanual rate of about 55,000,000 fans-Unked. "Press,
Textiles Quiet
New York, July. 3.. The cotton textile market was quiet today. The wopł goods market and rayon goods were both dull. Associateci Press
hord
probably mense supplied. months, and
held aloof pending Wednesday's During the past year the Increase
hand, the re-
holiday and the Korean develop spending, from an in defence annual rate of about $12 billon, luctance of Congress to concentments,
Dealers expected a tightening- to a current rate of nearly $30 rate new taxation in the income billion, has been supplied out of brackets where the bulk of the up in supplies due to the reported from India lies is small shipments an equivalent increase in overall spendable income now
which June The general an obstacle to effective inflation during Production.
ven variously estimated at between The effect of oven standard of Uving has not been control.
300 and 600 fous. · On à nominal reduced:. It
high
Licularly desirable now because
between 41.06-81.67 a pound on on: "It is it falls on spending directly, is
an ex-dock basis-United Press. price o
he expected that a weakened because the taxes arg greater, increase in defence included in the price. quotations expenditures during the next 12 from which the cost of
be met months can also entirely index
compiled. Where 703-7,04 traded through expansion of physical escalator contracts
are in effect, the cost of Mr wages rise - output. Tac planning of Wilson and his aides does not rest living. Hence the taxes may be on such Bh expectation. On the
the escaped by becoming indirectly contrary. Mr. Wilson asks every- the basis for higher wages, one to accept some reduction in that extent they idigally hava
Inflationary effectis consumption In order to make infinilor
applying materials in and man- power Anoth available for defence prepara to the next 14.
out may be confidently made is that and for necessary expansion average wage rates, Industrial
Contract No. 4 (world)) September January (1052) .. March
May July
September Spot
Contract No.
September
January (1932)
March
May
July September Spot.
4.44 nominal
8.58 traded 0.47 nominal
1.56 nominal
K.58 nominal 7.04
8.83 traded
1,86 bid
· 8,40 nominal
440 nominal,
847 nominai.
5.50 nach(nal
United Fresa.
perforartuäl ärmament
is
with
Exchange Rates
Business was done in the local exchange market thin unometal moming at the followinal rates!— Tometki) note (per 43 44.4. 11.00 andelen (per *****
3.30
Indonesia mailõerm (ber 190) L flam desta (per 100) Singapore (Kiraita)
Another tummon the which TIC: plastres (pogr. 100)
London
In
London, July 3. Prices in most sections of the London Stock Exchange held their own or registered small gains in light trading today. Commodity shares were dull. Selected gold mining stocka finished higher.
Financial Times' dally Index: 135.0, up 0.1.Associated Press.
American Holiday
New York, July 3.
and commodity Financial, markets throughout the Untied States will be closed on Inde
Day, pendence
Wednesday, July. 4-Associated "Preis,"
carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co'a Godown for loading on board by ship's slings only.
EMBARKATION: Will take place on FRIDAY the 6th July between 9.80 A.M, and 11.00 A.M.
New Republic
ISSUE 2ND JULY, 1951 NOW ON SALE
AT ALL BOOKSELLERS
or P.O. Box 718%-
Pacific Far East Line, Inc.
Fast Regular Trans-Pacifio Servical int
1.73
DIRECT FRANCISCO, LOS ANGELES
In bu
business plant and equipment costs and wage-incomeswili 10 per cent rise (over January, that total outplit önn bo-in-irke contributing to narcaics formula adopted last February.
The In
In 1950) allowable ‚under the Tensed,
dationary forces. Wago ork as intended the granted since Hop Japanese Bonds it works a
ince Koren
*still | 73° soems apparent that a new result will bu that when enough spreading, and negaliations for formula will be evolved under new plants are brought in and further advanced tre beginning which further widespread ad- materiali provided, progress in la important, Induriries, a The vances can occur, and that rating livinillafandardasilican | Wage Stabilization Board is now gradually Wage rator in general again be reúmod, and defence dealing with some 2,000 applica= |with adjust to a higher level. : in needs likowise supplied, out of tions" (at last report):" for in= | short, wage stabilisation le faaso,
the increased vulpit,
cremes which would excood tho | noi tight. 5,
Japanese bandanga "A", {12:01 1809)
COS of
London, July 3.
\"GKÖRÜR LUCKENBACH”
PEDOAR LUCKENBACH"
#PHILIPPING › BRAN
や
'OVERLAND
NEW YORK-CHTOAGO DETROIT-TONONTO HONTREAL AND ALL AMERICAN & CANADIAN CITIES
From
Stratte Miratta
July July
July
Los Angeles & San Francisco
July
San Francisco & Loy Angeles,
ViaKobe, Nagoya &
Ban Trenolico
Ban Francisco.
BASAN Tengco de Los Angeles.
Tokokistaa
| Mypt. -- 4.17 | Ban-Francison, de Los Angeles
| Vim Yokoitamme
For fall parkenfarn call United States: LAños Co., General Agunta, quosh's Buliding, Teli 28196.
No comments yet.
Private notes are available after approval.