1951-07-09 — Page 9

TH

THE CHINA MAIL, MONDAY, JULY 9, 1951.

Market Resurgence Of Japan

R.PL Confounds And Germany As Trade

ROYAL

Dale

15th July

17th Jus

24th July

25th July

VA

AUS.

21st Aug.

12

July

1201 Jaly 100 Zub

29th July

3rd Aug.

6th Aug. 11th Aug.

23rd Aug.

Date

14th #blv

24th July

15th August

15th July

24th July

17th August

Ship

INTEROCEAN... LINES

ARRIVALS

"TJITJALENGKA” "VAN BEUTAZ“

RUTS "THWANGI" "BOISSEVAIN"

“TŠÍŻĄDANE"

KTASÍAN" "BOTAREVAIN"

From

Macázar, Java Porte a singapor Belawan Dell, Penang & Singapore

JADEN

Macassar, Java Porta & Singapois

H. America, 8. Africa Ningunere di

Halgon,

8. Amaries, S. Africa, & Kingapore, Japan Japan

SAILINGS

"FAN HEUTEŻ ****TJITJALENGKA"

-- "RUYS"

"DOISSEVAIN"

TITWANG

"TJISADANE"

TABMAN"

"BOISSEVAIN"

Japan

To

Experts

New York, July 8.

Stocks confounded the experts last week and rosa sharply at a time analysts said a when

WAS in order. decline Prices rose all around un- til the Friday session when the usual week-end realis- ing selling started.

*

On Thursday, the 1st made

its second best gain of the year Hingapore, Java Paris & Maranas the best was made on January 2, the year. Sales were light,

anila.

Singapore, H,

Africa

A

B. America Japan Kingapore, JAVA Parts & Macassar Japan

Semarang. TE. Priok * Belawan

Deli

Manila, Singapore, S. Africa à 8.

America

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Ship

"KIELDRECHT" "AAGTEKERK" "AAGTEKKNK"

"KIKLBRECHT" "AAGTEKENK” "AAGTEKENK"

From

Japan. Europe & Hingapore Japan

SAILINGS

סני

Manila, Singapore & Europe. Japan vla Manila

Manila, Singapore, & Europe

BORINGS BUILDINGA TUBEPHONES: 28NISTERO SAROTZAR

Plans

Japanese

For SE Asia Trade Expansion

Tokyo, July 8.

Increased foreign trade, with particular em- phasis on commerce with the Southeast Asian trade report countries, was recommended in a issued today.

which was the first: session of

however, and daily average for the four full sessions worked out at 1,295,767 shares daily, compared with 1,744,802 shares

lally in the preceding week.

There was nothing in the news to sway the market. movos toward a truce in Korea

The

came simultaneously with the market improvement. Not long however, the market

truce prospect In the belief that it would result

Avon

in cutbacks in war production. In this connection, Washington elrefes denied such a situation and held that there will be no change at all.

Competitors For UK

REVIVAL OF OLD ISSUES

(FROM OUR OWN CORRESPONDENT).

London, July B.

Ex-enemy

In contrast with the threats of further economic stringencies for "Britain: contained in the Chancellor of the Exchequer's antioùncement on Wednesday of the sterling area's worsening dollar position, two features in the London market this week reflect the rising

hopes of countries-Japan and Germany.

Main feature of the foreign market indeed has been the persis- tent strength of "Jap" bonds on the prospect of a Korean truce,

Renewed support came during the week for German bonds, a sequel to debt settlement hopes. The first meeting of the tripartite commission on terman debts, attended by a German delegation, has opened in London.

It

HONGKONG

SHARE MARKET

on

The re-emergence. of wonders whether any time will Japan and Germany as com- ever sult Britain for "shaking off the shacktes of the war economic forces economy." petitive

tho "The Economist" fears the im will ralee sharply in

(From Our Correspondent) pression being created here and near future old-time con-

abroad "that there never again troversial issues.

Business, dona

the Stock will be a fair fold in Britain for

Exchange this morning was Recently in London your enterprise and efficiency."

volued at $322,785. Noon prices had laiks with urges correspondent

0 plungo back into four people intimately interested freedom from controls to avoid and the morning's transactions:.... of on economic SHARES BUYERS SELLENÍ BALES in the future economic relations the penalty of Japan and Germany with the isolation.

One was a rest of the world.

The Chancellor's hints

This BANKS

TIX Bank ..1470 1000 so riad from businessman

Tokyo, the week of yet more controls do

104 East Asia second was a trade officiul from not exnolly encourage any Western Germany, the third was thoughts of shaking off the

INSURANCES

Uniem Lancashire cotton chief and shackles "The Economist" dis-

Underwritern 3.40 the fourth a Kenya businessman. cusses so pessimistically. They had four questions chiefly in mind.

visitor

In the Colonial field Rhodesia asked: The To

has naturally held the spotligh! "When is Britain to give us a real chance in Colonial this week. Almost simultaneously came news of an inter-territorial markets?"

The

asked: commission's Lancashiremanı

electric £74,500,000 bydm do to Lancashire from Japanese come help for the Rhodesian railways. and of $5,000,000 ECA petition?"

Both schemes will have their The Kenya man's question was effect on the copper belt.

The expected interest in

Prices rose on Monday and Tuesday, Then came the holl- tary. Ол Thursday, stocks and this made further 'gains time the market did its best of with the exception the year of the Arst trading day.

Railroad IRSLICS made sub- stantial recoveries. Domestica

gaing of one to issues netted more than two points each. Oils, steels, motors and most other

Improved. groups Numerous special Issues rose sharply. Anderson Clayton rose 13 points to close

at OD14. Prices sharpened off highly on weekend profit-taking on Fri-what day-United Press.

Activity

In Textiles

The report said there is still further need to Shackled expand trade with the West Pacific and South- east Asia areas. It revealed that Japan's trade is now 30 per cent of the pre-war volume.

The

of expansion

capital goods export should be given primary consideration, the port said,

According to the report, tex- tiles comprised 48.7 per cent of last year's exports followed by sundries, metals, metal pro- ducts and machinery. Food and

raw materials for textiles

ac

counted for 79.5 per cent. of last year's total imports.

The 1950 exports totalled $824,000,000 and Imports $970,- 000,00 the highest post-war figures, which are stil only 30 per cent of the pre-war

gures United Press.

CHINA TRADE NOT NECESSARY

trac

Tokyo, July 8. Japan does not need to do business with Red China, A former Occupation offelat sald here,

Inst week in the

New York, July 8. The

Korean developments over the and the uncertainty economic effects of a quick Mr Walker sald Japan will cease-fire agreement

shackled sove her raw materials prob- activity lem by turning to the Philip- primary textile markets. Th pines, Indonesia, Southeast | mid-week holiday, stong with Asia, Australia and America,

the mill vacation period and new pricing complications grow- "The ingenuity and technical ing but of the latest celling ability of industrial manage price freeze as of June 30, and ment in Japan today is at its the ban dh' rollbacks, furnishes peak-much-of-li-coming from additional trading handicaps. A generation trained leaders who were sky-

છે. technically But the uppermost interest was

centred on the foreign political rocketed to

top positions by picture. the purge of war-time exzcu- tivos," Mr Walker said-United

Tress..

Japanese Toys Being Cut Out

New York, July 8. Quality toy production by Britain and Germany is cuting Into Japan's market in this

"There was a time when the Joss of Manchuria threatened Japan's cennomy and when the loss of China's markets was country, the New York Journal serious, but new and successful of Commerce reported today. patterns. of trade are born," said George T. Walker, who served for two years im mediately after World War 1 as the top industrial engineer for Allied Headquarters.

being

Mr Walker is now Manager of the Far East operations of the Overseas Carbon and Coke Company, Inc., of New York.

new

"Japan does not need to do business with Red China be cause at

markets and sources of supply and because of Industrial advances here lit the past six years," Mr Walker sold.

at

Japan had made particularly great advances in the usa marginal raw materials,

NEW PEAKS

"And with the re-location of hermal industrial-centres," Mr Walker said, "It is believed that Japan's production reach peaks during the next five years that will be grbátor than anything she has seen be ford.

Importers reported that they had already placed heavy or- ders in preparation for the Christmas holiday, trade and in wholesalers have

many cases, already received deliveries.

In Worth Street, most cotton goods sellers willdrow. Execu- tives preferred to sit tight and wait." Some

mills

have enough to

through to- Curry ward the

quarter. But else- where producers disclosed the possibility of extending the vacation period unless there is quick pick-up in textile orders. Rayon goods distribu- tort reported that activity re- min ined extremely quiet. - United Press.

Average Week In London

London, June 8. The stock markets had o rather pedestrian week, with the Financial Times' index of industrial averages closing at- 135.8. the same as the previous week.

can

е

STOCK EXCHANGE

save

scheme

for

a rejoinder to the Lancashire rel query: "What can anybody do! mares duly rescited. Exot

provide A

news

In the minds of

A

DOCKS, ETC.

K. Whart

N. P. Wharf 4.70

S'hat Dock

Ducit

Wheelock

✨RKAN

Page

MESSAGERIES MARITIMES

M

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ARRIVALS from Europe

from Japan SAILINGS

M

PASSENGER/FRRIGHT SERVIĈE

chih MARSEIL "LA MARSEILLAISE"

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to Japan

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ith Aur. 2200 Aug,

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MAERSK LINE

FAST FORTNIGHTLY BERVICE TO:

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NEXT SAILINGS

M.S. "LEISE MAERSK"

July 16

740

2000 355

M.S. "GRETE MAERSK"

July 30

M.S. "OLGA MAERSK"

Aug. 14

14%

$2000 4.000 600 @ 1415

ARRIVALS FROM U.S.A.

2.40

M.S. "OLGA MAERSK”

2515

July 10

M.9.. "LAURA MAERSK”

Aug. 8

5.10 2000 @ 3

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Aug. 21

30

400 3814

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P. Tram (0) 141⁄2

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to slop Japanese competition?"

to 74:

· Today comes

Which rose yesterday an eighth to

Rhokana

the rose By

Jame should

satisfactory

20% to

"Rho- amount

and answer to the absorbing question Anglo" by 4/20 to 59/42d. Japaness There was a stimulus also for businessmen today. San Fran- Wankie Colliery

shares, which INDUSTRIALS cisco's Mayor has stated that the Japanese peace treaty will be jumped d to 24/9d. Another

good feature in coppers signed in that city-birthplace Messing, which spurted 6/32's to of the United Nations-curly th September.

Was

Αντ

There has been comment on LANCASHIRE'S FEARS the fact that the main U.S. Tho German query about motive in its approval of the Colonial markets may have a ECA loan to Rhodesia lies in the part answer at least in the clear- fact that the agreements provide Ing of the ground for the desired for increased deliveries of raw export drive that might result materials to Amorien. from a satisfactory outcome of the debt settlement question with the U. K

on

Cement Rope... STORES, ETC.

Watson

11 1000 (

300 10%

111⁄2 1500 # 116 14

14 14700

fi

10 19 1000 EDía

LM Crawford corrONS

Evo XD.... 1.90

Bumper Crops

In Korea

Korea, July ā.

There will be a bumper crop the of barley and millet to Korea,

according to a survey made by

civil nasis. the Eigth Army's |tanen section.

A few buyers have been sufficient to create renewed firmness in Colonial Government Lancashire's hopes of mecung stocks. Kenya 3 per cent the inevitable surge forward of 1973-78 rose another quarter to Japanese competition in Colonial 37 per cent, and South Rioden

In other markeis doubtless stocks 15

were prominent, rast now on the talks beginning 21 per cent 1965-70 improving

July 10. Sir Hartley

to 86%, and the 3 per cent of the 1980-85, to 94. Shawcross, President Board of Trade, is due then to

Kaffir's continued to drift meeting of address a private about 100 leaders of the cotton and rayon textile industry. His object will be to secure co- operation in the drive for creased exports of textile goods. It is unlikely thit his listeners will miss the chance of

The report followed an agri-

downward but most of the other cultural forecast of two months mining groups were fully firm. ago which predicted the summer **** | Treasury consent hos been crops would be only 65 to 70 are obtained for bonus proposals per cent. ΟΙ normal-United

which which are to be considered at Press. an extraordinary meeting of the Uganda Co. Ltd. The company hove decided to offer 74.250 at 37/6d a

ing home once again pary 10/- shares.

the

five

fears of Japanese competition, Memories of Lancashire's dit-share in a proportion of one new Aculties 20 years ago as a result ordinary share for each of Japanese activities have not shares of present capital, and as dlod; they have been seriously soon es practicable thereafter to of capitalica- revived this year particularly issue free by way

tion of part of the share premium the approach of the pence

account 445,000 107- shares treaty,

It is understood that. Sir proportion of one new ordinary share for each ordinary share of bo forthrightly Hartley will

In the capital In warned of the dangers of the the then issued

result, the lasted, share capital rapidly growing textile plant in would be increased from: £183,-

of He will be told, too, Japan, Lancashire's concern about the 825 to £445,500 in 801,000 or bigger allocations of American dinary 10/- Mares. The directors recommend otton arranged for Japanese expect to be able to

United States dividends in respect of the year mills by

ending August 31, 1951 équiva- Government.

Businessmen in East Africa ient to not less than 12% per cent on the final increased or- Colonies and other

concerned over competition in textile dm-dinary capital. fact, over the past two ports will doubtless be as anxious

the to know

answers of Sir weeks, this

Da will the promising from the standpoint fiartley Shawcross

a boom-has prevailed in good folk of Lancashire five trading days out of ten.

DOMESTIC WORRIES Last Christmas, 64 per cent. After having reached a peak of

To return to Britain's domcalle of imported toys were Japanese. 140.4 in the middle of June, Onancial worries. The Chancel- the current American price the average promptly fell back for's review of the rold and control regulations continue in some three per cent and has

dollar position. for the second stuck there. force during the next few years,

quarter of

of the year has brought US. Importers may swing even more sharply toward purchases

Perala considerable heart-scarching as to the road-obviously a hard of higher-priced European toys. seemed to have much influence Importers say German and on the markets, at least as com- one-Britain must now

Such lines of action as Mr with. Chancellor Galt-Buch lines skell's threats to do something if Galiskell suggested are viewed on there were any more increases restrictionist.

.He

Japanese toys still represent more than half of the total U.S. imports, but German

and United Kingdom manufacturers are making heavy inroads into the Japanese leadership, the Journal reported.

British manufacturers are meet-

ing their style and quality speci- cations better than the Japan

034.

of

In

Neither

pared

overage-so un-

nor Koren

in dividends. Another restrain- ing. Influence was a stump in The anticipated lowering of the sterling area's gold and US. tariffs against German toge dollar reserves, Despite the under the Torquay arrangements stodginess of the Industrial at is also contributive to the in-average some well-known shares

aliced. United Press,

Tho" pattern of foivod: Increase in orelors from Germany | monope

dustrial expansion to the North

to the Inlowd of Hockaldte due to the Manchurian adven-

Lako,

Trade Plan

Extended

Tokyo, July 8. The trade. pf between the Philippines and Japan which expired on June 30 this year has been extended for a period not exceeding ond year, SCAP'Y economic and acientine section

0$100,000,000

today

deemphasised the extreme Palacintos

cate

was

09

P

OAS

71.

Tel. Nos. 86066-9.

SOUTH CHINA MORNING POST

TOKYO

THE CHINA MAIL

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COLOUR IS AVAILABLE TOO

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that will be needed in dollar expenditure, his emphasis in regard to a new export drive per year in export and import

on the Imitation of home business is expected to be trank noted under the trade, plan, offi market supplies..

today on what it elals said. They odded, how- Commenting

qute! is merely "Britain's descriven Improved 1/30. to

in-ever, that this

on part per 06/08.4 letter to a newя-

Nationary excess of demand" noh

The BCAP officers

• Vanki calling attention to the home, The Exkiomist" declaren merils of the South Manchurian

that externally British Trade, emphasised that no limitations will be placed on Philippina-

POEGEDE LUCKENBACIN, the trade plán no future adequate

stipulates that there shall be ho RDGAS LUCKENBÁUÀË “ mord equal distribution over the

In general counte Entrena, výha dong in the incal

general country's needs other in a their Incation in- Country

from the Philippirks | UPHILIPPINE BEA duenced by parts, power and morning at the following mates-

IZENDOIAS -- @xchange marionn --disin || wearp

bonds were up one on the whole

nemate lo pesoddEEN indude irões pré, mangeriano; available local raw materials.

BURLINE mots (IMS A1) ... 1850 Koreanis pictures. Pathumpete. Sterling is to rural indennitely wil

lumber, rattan, mangrove This lindre romcion and 241) as most seniman fature of the one major turrency Lust toore huma

(975 100)

BED work who the continued dime effective exchange control Dark, sum, kapokaramie, cupra, nods of British Government This paper wedde, tht the abaca, and invisible and mircel- bonds-United Izumi,

res outalde in world | Locrenali

ingly leneous producti

for now, berend toward Exchange Rates Tallway lined the price £6% viable, and into the Japan trade

today show a

Huharon by industry kathorumpor (stralia) the KlovBrement: control

and pind Chinese 1tinuing cold war or hi #om/bas on trede võlude, B

pipe dVÍÁLAND-

ANEW YORK-URICAGO ERTRÓIF-RORDATO MONTERAZ AND, ALE, AMERIÇAN & CANADIAN CYZIRE

Stom

straile

Juby.

July

Ban Francisco de Los Ange

San Franciscń &c, Lou

Ban Franchide