1951-07-10 — Page 9

1

MESSAGERIES

MARITIMES

MOM

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ARRIVALS

from Europe

from Japan

SAILINGS

PASSENGER/FREIGHT SERVICE

"A MARSEILLAISE" "GA. MARSEILLAISE”

*AURAY"

"GRENOBLE”

"OUISTREHAM”

"MEKONG"

to Japan

to Marseilles

FREIGHT BERVICE

14th July

20th July

Dib Aur. 22nd Aug.

N, Africa & Europe 21st July N. Africa & Europe 28th July

N. Africa & Europe 12th Aug, ‚‚N. Africa & Europe 30th Aug, for

PORT SAID, TUNIS, MARSEILLES, Algiers, oran, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM,

CIE DES MESSAGERIES MARITIMES A LIMITED COMPANY INCORPORATED IN FRANCE Queen's Building

Tel. 26661 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via

BAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "LEISE MAERSK"

M.S. "GRETE MAERSK"

M.S. "OLGA MAERSK"

ARRIVALS FROM

M.S. "OLGA MAERSK" M.S. "LAURA MAERSK” M.S.

"HULDA MAERSK”

July 16

July 30

Aug. 14

U.S.A.

July 19 Aug. 3

Aug. 21°

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 30066-9.

Of

U.S. Shortage

Expected

Copper

To Get Worse

New York, July 9.

A strike has closed a major U.S. copper smelter-threatening to tighten the squeeze in the nation's supply of copper.

In other top developments, Economic Stabiliser Eric Johnston said he will soon have to approve either a copper import subsidy or a price boost, and the Government announced that slab zinc will go under complete allocation on August

1.

50 as

Some time in the coming week, found violating NPA regulations Au- and controls on critical metals, the National Production thority is also expected to Issue an NPA official said.

In Washington, a Senate Pre- a directive for full allocation of

Sub-Committee re- lead, beginning next month. The paredness

lead produ- leased agency has notified

a report orders for sharply crinitions Board for sport on tungsten. both the Army to accept cers not August delivery before July 13, and the

falling to nat together to assure to avold confusion.

vital The strike began at the Gar- adequate supplies of the field, Utah, smelter of American steel-hardening metal,

Most US. tungsten formerly Smelting and Refining Company.

China, Kerca This smelter processes all the came from

and now largely under production of Kennecott Copper other areas

Cannon Communis: control. The Sub- Corporation's Graham mine, the

nation's largest. prolonged

shutdown could result had not taken adequate steps to in the production loss of from encourage domestle and foreign 22,000 to 24,000 tons of refined outpu: of tungsten or Investigate

methods for conserving it. copper a month,

NON-FERROUS PRICES Major non-ferrous prices:

eents a pound Copper-24.50 delivered; foreign 27.50, York,

THE CHINA MAIL, TUESDAY, JULY 10, 1951.

Marking Time Economic Blueprint"

In

London

London, July D.

The Stock Exchange marked time today awali- Ing developments in Korea and Iran.

Government bonds skid- iled one-eighth lower and olla tost some ground. Foreign bonds were firm and Industrials remained steady.

Financial Times' ladex: 135,7-Associated Press.

Severe Slump

For India Announced:

A Five-Year Plan INDUSTRIAL EXPANSION

New Delhi, July 9,

The Indian Government's Pla'nning Commission today announced a five-year national development plan, involving an outlay of 17,980,000,000

In New York rupees.

Cotton

ACREAGE REPORT MARKET AFFECTS

New York, July 9.

Cotton futures sagged as much as $3.10 a balo fol- lowing the issuance of the Department of Agricul- ture's surprisingly large cotton planting report for 1951.

Dealings in cotton were sus- pended at 10:55 nm. and re- sumed at 11:15 am, Price ruled 7 higher to 1 points lower at the mid-day close and reopened 14 to 36 points lower,

the

11

The plan envisages increased agricultural production, expansion of major industries in the private sector (non - nationalised industry), streamlining transport and communications systems, and raising the general standard of living of the population.

The plan also recommends an effective check on India's increase in population through official support of a "planned parenthood" campaign.

HONGKONG SHARE MARKET

The Planning Commission, which visualises the establish- ment of a "Welfare State" ir India, urged "a centrally directed economy in which the State plays an active role with co-ordination between the publle and private sectors."

RALLY CUT

DOWN BY

SELLING

New York, July 8. A forward movement in the

today ran

Pare

R.I.L.

ROYAL

Data

Ja'

Port

July

24th

Jul

25th July

4th Aug,

Ith Aug. Sint Aug.

17th July 18th July 19th July

29th 2017 14 Aug sth Auf. 11th Air.

Bird Aug.

Date

14th July

Nth July

15th August

Into

15th July

од

The report on national plan- ning, running to more than 300 stock market foolscap pages of typescript, is

Inte seiling that clipped widely

S regarded

India's

the advance. most of "economie blueprint," following Prime Minister Nehru's "State

Prices among leaders spread out over a range of a dollar last in of the Nation"

week-end.

This Ave-year

report

either direction. In the backward class were aircrafis

and some radio-tele

plan, accord- distillers ing to the Commission, "repre- vision issues. sents an advance on the Colombo Trading-volume was estimat- SHARES DUYENS SELLERS BALES plan for suuth and southcasted at 1,100,000 shares. The best performers were steels, cils, motors, and chemicals, with motors making less pro-

than the others. There was comment in the

1400 1500

(From Our Correspondent) Sume dealers foresaw possibility of 17,000,000 Business done on the Stock

Exchange bale or better crop as against

this morning was the Government goal of 18,000,-

valued at $337,885, Noon prices 000 bales, In the

.the previous and

morning's trans- season, only 10,012,000 bales actions- were produced. The market ! rolled feebly from the lows un the belief that any

Surplus cotton stocks could be siphoned off through the elimination of the export quote programme,

The Agriculture Depart- ment's crop report revealed that although the number of this Spring was bol weevils generally less than last reason, infestation was increasing. rapidly in the month of June.

The market opened 5 to 28 turned irregular points lower. before the issuance of the re- port on short covering and then closed 8 to 54 points lower,

Prices closed today as follows: Spot

Ontober

IIK Fire

Some schemes Oguring in the Colombo plan have been ex-

750 clutied or modifled und some 750 new schemes have been in- CD troduced. The first part of the plan, involving an expenditure of 14,930,000,000 rupees

over na Ave years. according to the 4.00 Commission, should be "imple- 14.86 mented by the country at all 14.00

BANKS

Asia."

HK Bank

50 1500

East Asia ‘.. 104

INSURANCES

Canton Union

240

743

100

10

10

10

140

DOCKS, ETC.

K. What

0115

14 100

14.90

15 000

500

1200

1013

40

25

5.10

N. Pt. Whorl 4.80 Dock

Provident

Shat Dock Wheelock

LAND, ETC.

HK Hotel

lik Land

S'hai Land

UTILITIES

3815 40

1.25

13% 13% 5000 # 4316!

P. Tram (0) 14

costs."

The second part, costing 3,000,000,000 rupees will be taken up it "sumcient external assistance becomes available".

FOOD PRODUCTION

first part is directed 8.90 mainly to the development of irrigation projects and the in- production of food crcasing Telephone 101 11 0000 20% grains and commercial crops, which are expected to yield the 11.40 following results in 1955/1956:

44.00

July

44.10

Tram......

33.05

December

33,34

P. Tram NJ

March (1052)

15.29-35.40

Star Ferry

May

35.20 bid

3430 bid

C. Light (N)

October

33.45 bid

December

33,20 bid

-United Press.

July

NEW ORLEANS MARKET

Juty

C. Light (0) 6.85 74000

4

4.30 200 Light (B) 6.35 0.03 5500 we 6.60 Electric

2015

000 in 2014

1111.40 200

145

I 141 3500 2 14.10

The

1300, 14.23 1. Additional production of 1974 200 6 19,357,200,000 tons of food grains.

Closing rule

July

INDUSTRIALS

Cement Поре STORES, ETC.

Dairy

Spot

43.00

11.07 bid

-Walkon

October

35.50

Lane Craw-

December

33.18-3320

ford XD

March (1932)

35.37

Empat m

231% บ

24 400 24

*500

D

May

33.27

COTTONS

July

1.30

EAD XD ... 1.00

23.37 1fti

+

33.12 bd

5000

October December

-United Press.

"TEXTILES QUIET--

The cotton textile market was

Department

of cotton

New York, July 9. quiet today. The United States Agriculture estimated

acreage Su cultivation as of July 1 at 29,310,000 acres. which almost 1,000,000

WOR acres more

than the government goal,

Dealers sow in this report better chances for a lorgé cotton production this year, possibly more pressure for still lower. prices which might be reflected in textiles.

on

The wool guods market was dull, penting the opening of invitations

new, military orders later this month,

The Rayon goods market was Fluggish. Associated Press.

A Commitice report said officials New York Sugar

The strikers, members of the United Steel Workers of America (CIO), are seeking a pension plan, social insurance and holi- day concessions, and a wage in

crease.

Mr Johnston's remments on

now

New

Lead-17 cents New York; 10.80 cents St Louis; foreign 21.5

the copper price situation were to 22 cents, nominal, Gulf ports, made to the Senate Finance Zine 17.50 East St Louis Committee. The present two- 18.25, New York; foreign 29 price

system,

which up, nominal, Gulf Ports. 27-1/2 Aluminium-19 cents ingots, Chilean producers cents a pound for copper while shipping point; pigs, 18.

under

Antimony-43.30 Cased,

Futures

New York, July 0. World sugar futures closed today 0 to 17 lower, with salca totalling 110 contracts.

Contract No. 6 ́closed 4 to 5 lower. with sales totalling 173 controats.

Contract No. 4 (world)

September

Jonuary (1932)

Maish

May

July

September

2.04 bid 0.29 nominal 3.08.24

5.63 ponital 8.35

Icl

Spol

7.10

Contract No. €

September

&.DI traded

January (1952)

8.DI

March

3.40 nominal

May

8,40

H

July

8.42

September Spot

0.02

US. producers are price-con- trolled at 24-1/2 cents, is un- New York; bulk 42 cents, ear- tenable, he said. Indicating that lots. Laredo, Texos; 50 cents, were either a Casade, Idaho.

the alternative: boost In the US. price or a Manganese-Ore contracts of 78.081.8 cents a long ton unit, three-cent subsidy to users

nominal elf US ports, daty for ore $10

the imported metal, the Stabi-

liser said, "We are going to have

to do one or the ather soon."

STILL SHORT

buyers, account; India

nominal.

Ferromanganes: $105 a gross

ton unit, shipping point.

-United Press.

Nickel-50.0 cents a pound Order To Mr Johnston said this country will still be short 100,000 to 150,- electrolylie cathodes, Pont Col-

000 tons of its copper neods thisborne, — 300-

refall.

Ontario, duty included.

дл ounce year despite efforts to boost pre-

Wholesale; $93 duction.

Silver-00,10 New York; NPA sald is zinc allocation order, which has been anticipo. 78.5 pence London..

Tin-$1.00 a pound, New York, ded in metals circles for several

Quicksilver-4310 to $213 a weeks, was, 'made necessary by the needs of the iron and stool ask, New York. industry for zine for galvanising calling Associated Press.

Tungsten ore 365 a ton unit, After August 1, NPA authorisa tion will be required before de- livery of slab zine for any pur poso ir permitted. All grades of slub zine ste covered, including that produced from scrap.

Mills

MISCELLANEOUS

Rubber Trust

LONDON TIN

MARKET

London, July 9. The price of tin was steady this morning.

Turnover was 120 tons, including 20 tons for cash.

Prices closed today at the end of the omela morning session as follows

Spol tin. buyers

Spot tin, sellers Iusiness one of

BSN 871

170

Three-months tin, buyers 027 Three-months tin. elters 830) Business dune al Settement

2. Over 2,000,000 bales of Jute,

3. 375,000 tons of oilseeds.

On

4. 695,000 tons of indigenous sugar.

Irrigation. The plan provides for an expenditure of 4,510,000,000 rupees during the Arst five years.

The Commission has assured industry that private enterprise "will continue to play an Im- portant part in production ДВ well as distribution", while the direct Stote will control and

foreign investment, regulate trade, conserve foreign exchange

standards and safeguard

the essential consumption in community.

of

industry that an end of the Government's bon on apare tyres as original equipment might lead to a larger rubber allocation:

American Cynamid was at- other wide mover, up as much

5 $3,50 at

fairly times, in active trading

Stocks gaining Included Bethlehem Steel, General Motors, Standard Oil of New Jersey Texas

Dow Co.,

Chemical, Dupont, US Rubber. American Telephone, Kennecott Copper, Smelting, Westing- American house Electric and Southern Railway.

Curb

mostly higher including Molybdenum, Monogram Pictures, Pancoastal Oll, Stinnes, US Foil B and Imperial Oil,

Lower

Jersey Zine, American Republics, Fansteel Metallurgical, and Glant Yellowknife Mines. Dow Jones Averages:

Stocke

stocks were

were New

20 Industriels

10 Ullities

15 Ralls

89.07

250.65

75.74

42.90

-Associated Press.

In

Firmness

U.S. Grain Futures

27th July 17th August

ship

INTEROCEAN LINES

ARRIVALS

KIJITIALENGEA” "YAN HEUTSZY "BUY"

UTJIWANOM "BOISSEVAIK"

«THIBADANË” "TALMAN**

"DOISIEVAIN"

From

Machisar, Tara Porta & Singapore' Belawan Dels, Penang & 8LREADORS JADRO

Macassar, Java Porta à ŠIMEKSOTO 3. America, B. Africa Fingapore &

Saigon.

8. America, 8. Africa, & fingapore. Japan Japan

SAILINGS

*VAN HEUEAZN "TITJALENGKA”

_*RUYS"

"BOISIRVAIN"

"THWANOI" "THISADANI”

TASMAN"

"BOISSKVAIN"

Japan

To

Bingapore, dawa Ports & Macassar Malia, Singapore,. 8. – Africa.... ♣

8. America'

Зарк

Angapore, Java Porta & Macaman? Japan

Remarang, T. Prick

Dell

Belawan

Manila, Singapore, 8. Atelen & B

America

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Ship

#HIELDRICHT "AAGTEKERK" "AAGTEKENK"

"KIELDRECHT” HAAGTERERK" "AAGTEKERK”

2xpan.

From

Europe & Ringapore

Japan

BAILINGS

W

То

Manila, Singapore à Europe. Japan via Manila

Manila, Bingapore & Europe

HEKÜPHONE SE-2990125AAN, PRUNIT

PATTISON ORIENT LINE

LIMITED

S.S.. "LAURE PATTISON"

DUE FROM: LOADING:

Kobe July 17th 18 & 19

12-14 Queen's Road C.

SAILING FOR: Pusan & Japan July 20th

Tel: 25846.

Agreement MORE ECA

On Double GRANTS Taxation

ANNOUNCED

Washington, July 9 The Economic Co-operation Administration today allocated $10,151,000 to

Formosa, the Philippines, Burma, Indo-China, Indonesia and Thailand. Theo

in-

cement

London, July 9, The House of Commons today unanimously ap proved a Government me- tion confirming a five-year double taxation agreement ECA said this brings the total with BurmM.

of Far East aid to $495,384,000,

For Nationalist agreements prevent $2,975,000 ls to be spent mostly Chinesa These companies and individuals being for

Industrial taxed twice in their own concluding materials for

equipment, try and the country in which plant, railroads, alkali plant, they reside.

well drilling and coal mining, agreement with Burma Most of the equipment can bo covers income tax, surtax and purchased

from

United States, Japan, Western Germany business profits tax.

Main types of income exempt for the United Kingdom. from double taxation are trad- For the Philippines, the ECA ing profits in certain cases, authorised $2300,000 with which shipping and transport profits. the Philippines.may make new

Mr Frederick Erroll, servative member of a

Parlia purchases,

Following are the new pur→ mentary delegation which visit-

authorised for. ed Burma last year, said that chees

the the Britsih

were

$1,270,000 receiving Philippines:

the alyrogenous fertilisers from the treatment from the U.S.. Government because

Belgium, the Austria from Netherland,

or the German Republic: $007,000

Chicago, July 8. Chicago grain futures were generally firm, although some INDUSTRIAL CAPACITY wheat and soybean futures

slumped below Friday's closing. The Commission's five-year Wheat futures closed lower

The 82715-825 plan for industry includes ex- to higher, soybeans were 870 panding the present capacity of higher to lower, United Press, Industries like jute, textiles,;

Prices of grain futures closed New York, July 9. Copper, lead and zine futures steel and iron, heavy chemicals, today as follows;

soap, which are "of Wheat price per bushel sugar and clostri quiet,

sales,-As- no

basic importance to the general Spot sociated Press.

econo

development of the July

September December Referring to the rapid growth March of the population and the con- Corp

resources of the country, the July Commission has urged that September programme of (amily limitation December mus, be made a social movement, May which would call for initiative. on the part of individual families July and the general development of September public opinion.

May

Pepper Market sequent pressure on the limited Spot

Quiet

11

March

Rye

July

2,2854 2.30 2.331-

2.4134-15

2,4235

1.842%

1.7191-1.12 1.0012 1,009-12

1,0334-1.04 1.05%

1.99 1.72

generous

Burmese

they

Con-

the

stood to gain more

West the agreement in the present circumstances than the Burmese US or Canada; $80,000 in elec

in pulp and paper from the

from the U.S.; apparatus $50,000 in vegetable products

"We

welcome; this ngree. ment," he said, ádding. "I work flour-per 200 lb. Sack. wish the Government of India from the U.S.; and also in con-

New York, July 0. The black pepper market continued extremely quiet with prices generally unchanged, Dealers apparently awaited de-

Emphasising the limited role September velopments in the Korean

situa-

which the State could play in

1,42 | $12.06.–United Press...”- tion and other fresh. Incenilyas checking the growth of the

Spot and shipment positions pot were quoted nominally at Population, the Commission has

expressed

ssed full agreement with $1.07 on an ex-docle basis. In the recommendations of its sub- dian offerings held at from

committee on population and pound-family planning. to $1.87 $1.00% United Press,

London Rubber

....

Market

London, July 9 Prices of rubber futures Steel closed today as follows:-

Washington, 'Júly-D.

The Government today order- ed steel mills to act aside a major part of their monthly out- pui for allocation to essential users under the new Controlled Materials Plan (CMP), Harting In September, marting The National Production Au- thority ruled that 15 por, cent of Copra was reported at 1.67.- the steer output be "carmarked 60 por short ton, Coebamit was || for military, and assential elvilian

Now York, July D..

The Government is going to offered unchanged at 21 capta frms holding CMP allotment arack down on persone or sarma, a pound.-- United Press.

certificatenanociated Prezen

Number 1 rubber,

in cents per, 16... 48-4515 August

September

October/December

Jantiary/March Apri/June

sik nominal

United Pre

The sub-committee. recom- mended popularising birth con- idrol methods and educating the

masses on the need for family

limitation-Reuter,

Dollar Spending By W. Indies

left

Exchange Rates Government sources are now

73-747%

7636-13

Jap Bonds' Big

Advance

New York, July 9,

Japanese bonds advanced gen.

do trical

might look to the east, ses what the Burmese Government has accomplished and de-like wise."—Reuter,

Ban. Ôn

Spares

cally today, turning in gains To Be Raised

struction equipment Industrial materials, motor vehicles, engine

medical parts and

apparatus. Burma Way bilocated $343,- 000; Indonesia $809,000: Indo- China $2,790,000; and Thailand

900,000 United Press.

U.S. Supplies For India

Tho

ranging na high as 10° polnis on prospects of a cease-fire in

· Washington, July 9. Karea and an early Japanese

The

Defence Production peace treaty.

Administration announced it Gresk Consolidated Electric will lift this week its ban Power Sevens gained 10 at 80% against equipping new automo- and Shinyetrų. Electric. 04ɛ| biles with a spam tyre.

Washington, July 0. Manly Fleischmann. gained Ave at 734-Associated

Indian DPA

Ambassador, Administrator, said, "This is Mre Vijaya Lakshmi Pendit, Preas.

being done because

States United of an Im-rid 56-provement in the rubber situa Secretary of Stato, Mr Dean

Acheson, - tion and a reduction in passen-

signed ars today car

covering voluntary production."Associated agreement

American relief parcels and

donated to India. - supplies theso

Japanese bonds

“A” (4% of 1890) "" (de. of 1910)

"C" [BE. of 1007}"

**** {5}km, af: (934)

-Press.

United Press.

****** NEW YORK BANK

QUOTATIONS

Oilawa, July 0. The British announcement that dollar holdings hád slumped came Just a few days after à British West"="Indian" delegation ¡Ottawa ́ after conferring with;

Trado:

Department omncers. Pocoulating the British

கர- Business was done in the local houncemem prebably vocans, that morning at Us-follow he ate there will be no Increase in

· Sterling - mote//ipse: £3] qam | dollars, the West. Indira mean

·U.B.· Dollars"^(per, #1) **** 1914 spand. There had been hopes Indonesia qulders (per 406)

that trade between the rich singapore (Siraits 1

The West Indies and Canada might be

ravived.→→Valled Press.

ØSTLANEO

#002: pimeican (pam: 199) karvike 18.39

That

New York, July 9, *Closing brunk quotatóriagio

Bank of America 27/61d; 3811⁄2 area: Chate Nailom, 33-bid

orked;; National: City: 4494) blu,

Saturday Closings

free

Vetoed

New York, July A

tho

to permit

supplies

and to pay

the cost of

distributing

The bill lending India $180,

e00:000 to buy food graine

The New York Block Kza authorised they Leonomia: Cos change" membership today voted | Opération: Administration, la auralat closing the exchange of pay ocean freight charges o

Saturdays "throughout the en- supplies donated by qualified Like Tendenciandocities. Pren reilet agencias, mitentera