1951-07-11 — Page 9

THE CHINA MAIL, WEDNESDAY, JULY 11, 1951, 7′′

MESSAGERIES MARITIMES Record Harvest PHILIPPINES NOW

M

KEPINAL"

"AURAY

ARRIVALS from Europe

from Japan

SAILINGS

M

PASSENGER/FREIGHT SERVICE

MLA MARSEILLAISE" "LA MARSEILLAISE"

“AURAY"

"GRENOBLE"

"OUISTREHAM"

**MEKONG"

to Japan

to Marseillen

FREIGHT SERVICE

15th July 20th July

9th Aur. 22nd AuK.

N. Afries & Europe 21st July .N. Africa & Europe 28th July .N. Africa & Europe 12th Apk N. Africa & Europe 30th Aug. for

PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CABABLANCA, HAVLE, DUNKIRK, ANTWERP & ROTTERDAM,

CIE DES MESSAGERIES MARITIMES

A LIMITED COMPANY INCORPORATED IN FRANCE

Tel. 26651 (Three Lines)

Queen's Building

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 U.S.A.

M.S. "OLGA MAERSK”

M.S. "LAURA MAERSK"

M.S. "HULDA MAERSK"

July 16

July 30

Aug. 14

July 19

Aug. 3

Aug. 21

For Freights and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 36OGO-D.

Pakistan Expects Record Jute Yield In Coming Year

Karachi, July 10. Pakistan expects a yield of over 6,500,000 bales of jute during 1951-52—the maximum quan- -tity-ever-fetched in Pakistan.-

Forecast

of

Washington, July 10: The Department Agriculture forecast: today that the 1951 harvest whil be one of the greatest in history.

Wheat and corn estimat- ed at 1,070,132,000 bushels will be one of the targeRI over harvested.

The third largest malze urop-3,295,103,000 bushels forecast.--Associated

Press,

Rubber For The

Soviet

(Our Own Correspondent)

London, July 10, Further large quantities of rubber have been reach. ing Russin from this coun- try in recent weeks, accord- ing to the London columnist "Peterborough," writing In today's "Daily Telegraph." He recorded on May 24 that London insurance Orm had

declaration {

ol incuronte for rubber shipments this country to Russia trom covering €2,080,000,

Since then. he reports,

new declaration has been received on the London market covering, a tresh amount of £3,000,000.

received

#

When Sir Hartley Shawcross, President of the Board of Trade, announced the Government's decision to finish exports of

China it was rubber to nounced that watch: would be kept on undue increases in ollier directions.

ሰኒ

Exports to Bussin ni that lime, May 10, were announece as being £1,325,000,

"It would be worth knowing," "Peterborough," "what says

the Board of Trade-ussuming they know of this last trans-

undue action-regard as creases,"

in-

U.S. Warned

Of Lead

Shortage

be

Sun Valley, Idaho, July 10. Felix Wormser, secretary of the Emergency Lead Committee and vice-président of the St today Joseph Lend Company, warned of CITY impending shortage of lead unless the ceiling price of 17 present

a pound is lifted. Speaking to the Idaho Mining Association meeting here, Mr Wormser said that unless con- trols were yoon modifica development-of-local- lend A target of 5,000,000 bales of jute has been ear-

would be retarded. er, there would marked for export to varlous countries other than India.

to drive less lead for petrol to

lower octane Pakistan had already broken automobiles or all previous records for jule ex-rating for petrol and therefore less exports the world by ship.

patrol consumed.

Jess

lead ping 4,350,000 baies during the land to paint homes, 1050-51 crap season. Besides the

10 Install phones and power 5,000,000 bales export goal a

cables, less lead for plumbing sizable quantity will be left supplies and many other uses. aver to supply India sufficiently, against this, there is only Infinitesimal saving in the cost The Government expects to of living through price control amend ils present jute policy in

on lead." view of the anticipated increase in production. But no major policy changes are expected.

Brisk Trade

In Chicago

Grains

Chicago, July 10. Chicago

wheat lod groin futures higher

brisk In trading. Wheat futures closed to 24 higher, and soybeans were unchanged to 4% higher.

Prices closed as follows:- Whest-price per bushel,

2.3715 20316-4

more

Page

HAVE FAVOURABLE R. 9. L.

TRADE BALANCE

Significant Turning Point In Post-War Rehabilitation

Manila, July 11.

The Philippines at last has regained a favourable balance of trade after five difficult years of huge unfavourable balances.

Facts and figures compiled by Government agencies prove this achievement a significant turning point in the story of this country's effort to recover from the ruin and devastation of war.

n favourable trade - In 1941, the Philippines had -balance of 51.1 million pesos. Imports that year totalled 271.2 million, while exports were valued at 322.3 million, for a total trade of 598.5 million.

HONGKONG

SHARE MARKET

Following the long nightmare | of Japanese occupation, libera- toin in 1943 found the country devastated and economically prostrate. But the Filipinos were flushed with

victory, overjoyed at their recovered freedom and cager to have again the materia! things denied them during the A spending spree, and in 1940, the

war,

Phlippines ty

a total of 501.7

while

Sharp Fall In Cotton Futures

New York, July 10. Cotton futures fell sharp-

under

pressure of in liquidation, influenced

ROYAL

Date

Port

Pors

24th July 23th July

412 Azte 8th Aul 21st

Aug.

INTEROCEAN

LINES

Ship

ARRIVALS

»TITJALENGKA” "VAN HEUTIZ" "BUY"

"TJIWANGI”. "BOISSEVAI”

THADANE" TASMAN" "DOINJEVAINTM

From

Macasta?, _JAVA_Poris & 'Singapore Belawan Dalit, Penang & Singidors Japan

Macantar, Java Porta - Ringadors 8. America, 8. Africa Singapors m

BRIKOT

5. America, A. Africa & Singaporn. JADAN

"RUYB"

SAILINGS

12th July 1201 July

HVAN HEUTSZ” "THITJALENGKA"

LOEN July

24th July

3rd Aug.

ti Aur. --

11th ARE.

23rd Aug.

Date

14th July 24th July 19th August

13th July

"BOISKEVAIN" "THWANGT "TJISADANE"- "TASMAN"

B018REVAIN"

JADAR

Kingannie, Java Poste & MIRCASERT Bianlia, Stogapore, ́8. Atrics &

M. Amagic Japan

Singappro, : Java Ports & Fincassur

Japan

Seidarang,

Dell

T. Priok & Belawan

MANUM, Singapore, 8, Africa à 8.

America

Agents: HOLLAND EAST ASIA LINE-

Ship

"KIELDRECHT" "AAGTEKERK” "AAGTEKERK"

"KIELDRECIT"

"AAGTEKENK"

"AAGTEKENK”

ARRIVALS

From

Japan. Europe & Singapore Inpa

SAILINGS

TO

Manila, Blagapore & Europe. Japan via, Manila

Manila, Singapore &. Europe

EEKINGSTRUÜLDINGS TELEPHONES. 2015 (10) SMART

paid

by 27th July pesos for imparted foods and

the larger than expected $7 August exports (From Our Correspondent) commodities,

totalled only 128.4 million pesos. Government acreage fore- Business done on the Stock The unfavourable trade bainuce cast. Exchange this morning was was n shocking 403.3 million valued at $592,735, Noon prices | pesos. and the morning's trans- actions:--

SHARES BUYERS SELLERS SALES BANKS

$310 100 1400 JIK Bank

65 e 1400

130*240

The gross disparity between Imports and exports continued on on ever-increasing seale, und in 1940 the unfavourable balance reached the sum of 605.3 million pesos,

The market opened irregular and then slumped as much as $4.75 bale for nearby July delivery. Nearby October posi- on dropped to 35.21 ccms a the lowest level since pound, record-breaking

October 21, 1950, while new post- The total unfavourable trade crop July and October

slipped to new seasonal 1948 up to and tons lows. including 1950 was 12,187,500,- GOD.

Fast Asla INSURANCES

104

Canton .....

Union

243 20* 205

balance from

745 130

207 750

30 133

DOCKS. ETU.

50 & 03

A 4500 M

11 Fir

K. Wharf, 4212

N. P. Whart 489 Duck 14.00

Provident

Shal Dock. 2.40 LAND, ETC.

HK Hotel

HK Land

302

S'hal Land 1.16

Humphreys

UTILITIES

Tram

300 14.00

300 @ 15

1315 131% 2000 131

Peak Tram

jo,

14%

Star Ferry. 63 C. Light (0) 720

оп

The morkel made a feeble In 1950, however, with the im- | recovery short covering position of import and exchange early in the stsalon and then controls by an alarmed fell into new low ground na Administration, the picture began liquidation increased. Some of change radically. From the selling in old crop July de- to July of 1950, the livery was attributed to the

all suffered

un-weakness in the spot market. favourable trade balance of 111.3 The

for the average prico

to

million

S. A. C.

pesos, but in the last five markets in the past avpels de Every TUESDAY is SAC DAY to BANGKOK

of that your there

clined more than 24 cents

$4 a

favourable balance, pound

C00 #15.60 of 101.3 million, leaving a ne! unfavourable balance of only 10.6

300 7.18 1000 720

millio

"CAUSE OF RECOVERY This year, the Philippines thus 3100 1.25 far has continued to sell more than it buys, ond statistics issued

C. Light (N) 420 4.20 1000 410

2000 @ 4.20

2500 6.00 1000 30

C. Light (3) 4,80 71000000 by the Central Bank show that in the first four months of 1051, the country rolled up a favourable trado balancu totalling 15. million.

Electric Tolephone...

INDUSTRIALS

27 27.10 1000 27 11

1500 / 21

Continued favourable growing weather over the belt aided the liquidating movement. Certificated stocks cose 3,207 bales. The open interest in July dropped 19,900 bales to 74,000 bales.

44.05 nominal' 43.15-43.25

The market locally opened. 11 points lower to 6 higher and closed off 12 to 05 points. i Prices closed today as follows; -, Spot Cement. ....11.30 3311⁄2 500 44 3130 | "Statisties on foreign. trade for July May

not yet October 10011.10 avaliable, but a high Central December 14 16

March (10521 Bank official said the trade December 14.20 141⁄2 1000 14.40 balance remained favourable

40%

during these two months:

Rape STONES, ETC.

Dairy..

Watson

1. Crawford 231⁄2 COTTONS

Ewo

2

600 63 13.30

1000

24

and June are

This spectacular recovery in the matter of foreign trade was! duo to several factors, notably the outbreaks of the Korean war, which created-a-big

35.32-33,40

33.22-35.23

33.21-33-20

23.10

Valted Press.

NEW ORLEANS MARKET

Spot „July

-demand- October for Philippines raw materials,

The Rubber higher prices for export pro-

Prices

Markets

Singapore, July 10. of rubber futures closed today as follows:- Humber 1 rubber, per ib.

July August September Number 1 rubber He explained that lend wan July

Nuniver being produced and sold in the

July United States at a celling price Number 'A'

July 17 cents a pound, far below of the outside world market price nt 23 to 26 cents a pound,

ኢና

The Ministry of Commere? unnounced, that exports will continue to be free of licence to

a result, he said, lead produced countries in the dollar area and

in foreign countries that would to Argentina, while a provisional quota of 372,125 tons of jute has

normally be imported Into the

States reverted United been fixed for export purposes

American C:011- during 1051-32 for the following Europe,

and countries:

sumers were deprived of much- Jiceded lead.

Spot

July

Beptember

Deevu:ber

1.3034-4

March (1032;

2.1741

May

2.42

Corn

Apot

July

1.001% 1.74

Reptember

1.7216-

December

March (1952)

1.005%

May

1.07

Пус

en

July

September

Onta

July

1.03 1.7214

709; 78-77-13

September

3.0212-14

New York four-per 200 lb. Sack.

$12.05 United Press.

to

with

Australia 5,000 tans; Austria Lead Imports this year are

to amount to n 0.500; Chile 2,000; China 7,500; expected Denmark 1,500; Egynt 3,000: 250,000 tons, compared Finland 625; Grecce 3.000; Hun- 550,000 tons imported in 1950, Kary 4,000; Iran 2,000; Trog 3.- Mr Wormser added, Domestic 000; Ireland 7,000; Norway 3,000; lead production is expected to Peru 1,000; Portugal and Portu- be about 400,000 tons this year. with scrup. Trad output about guoso East Afries 10,000; Swed-

10,000; Switzerland 6,000; the same, making a total of Union of

Consump- South Africa 5,000, about 600,000 tons.

tlon Yugoslavla 4,000; Uruguay 5,000.

has beon estimated at about 1,200,000 tons for 1051.... EXPORTERS ADVISED United Press.

There quotas can be lifted up to June 30, 1953, Annual quotas for other countries cannot be

finally determined until the size of the crop is more preeksely

New York Sugar known. Provisionally, however.

Futures

New York, July 10. World sugar futures closed today 3 to 10 lower, with sales totalling 144 contracts.

Contract No. 6 closed unchang-

ed to 3 lower, with sales totalling 188 contracts.

Prices closed (oday as follows: Contract No. 4 (world

September

January to

March

May,

July.

Septemb

#pot

Con

4.03 traded

4.16 nominal

Boa traded

0.50 bid

$5a nominal

6.67 nominat

7.00

1.80 bin

nina)

the following quotas aro xnd

which are valid for shipment

up to October 31, 1951 and a further announcement will be

Wall Street Stagnant

130-131

124 125

14513-14019

But on

the other

it

December

Marck (1652)

October

December

Closing rate

July 10.

43.00

42,80

35.23 23.45-35.07 35.22

31.14 bld 34.75. bid

33.28 bld

33.00 bid

-United Press.

TEXTILES QUIET

New York, July 10. The cotton textile market was quiet.

The large cotion plantings reported by the Government make on Monday failed to impression on gray goods; prin.. elpally because buying Interest remained nominal.

The wool goods market was quiet. Rayon goods were dull.— Associated Press.

ducts, and increased production May of export commodities, principal-July ly cocoanut oll, sugar and hemp. Partly

result of this 04 1 recovery, the financial position of the country has become much more stable than I was a year Other

the

encouraging 144:4-145 trend in the field of foreign trade will continue remains to 1315-13295

he seen. The price of copra, 130-137' for instance, may drop with

may be Korean pence. There less demand for Philippines ex- Port products due to temporary eluts in the American market.

ther hand Western rearmament continues in the face of the Red monace. and American military pre at should be reason to expect still

tion gets fully under

way, there

bigger exports' at good prices.

OTHER FACTORS Besides the bright foreign

London, July 10. are other trade picture, there

Most sections of the Stock factors pointing to the graduni

Exchange drifted lower in quiet}} stabulsation and improvement trading today. Losses in British of the nation's economy.

Government bends ranged to Among them are American aid

of a point. of through

tho Economic Co-

of Korean truce! The start operation Administration, in-

was reflected talks

In good creased taxation, development buying demand for Japanese of local industries, a decline in bonds. The 10078 jumped one

and prices,

Indleations point to 68%, the 1910s 4 of a

rubber

Spat rubber, unboled Black crepe

to -103 No. 1 pale crepe Ünited Press. 155 -105

NEW YORK PRICE

New York, July 10. Crude rubber spot No. ribbed smoked sheets closed 52 asked.-Associated Press.

Onc

LONDON TIN MARKET

London, July 10. The tin market closed today barely stondy at the morning session, Turnover was 110 tons, including 30 tons for cash,

Prices closed at the end of of

cerinin

London Stocks

Lower

the, oficial morning session aa of foreling heavy investment Į point to 62 and the 1930s one

follows.d

ago tin, buyers. Spot tin, sullers' Business done at Three-months tin,

buyers Three-months tin,

Kellers Business done at Settlement

DIE

DATE

capital here. Caltex is authoritatively stateci

ready

10 bo

point to 07.

The Financial Times' dally

and DIRECT FLIGHT to RANGOON BANGKOK/PENANG & SINGAPORE ON WEDNESDAY BANCKOK/RANGOON & CALCUTTA ON FRIDAY For full particulars, please apply:

General Agents:

SOUTH EAST ASIA TRADING CO., (SIAM) LTD,

69 Connaught Road, West.

Peninsula Hotel, Kowloon.

Booking Agents:

Tel: 24292

·Tel: 56416“

AUW PIT SENG'S TRADING CO., LTD. 10, Pedder Street, Tel: 26733

CHIANG HUAT HONG

340 Queen's Road, West, Tel: 36204

PATTISON ORIENT LINE

LIMITED

S.S. "LAURE PATTISON":

DUE FROM: LOADING:

Kobe July 17th 18 &.19

12-14 Queen's Road C.

Chinese Agents:

'SAILING FOR: Pusan & Japan. July 20th

26846.

to establish here index wns 135.7, unchanged,OVERSEA CHINESE STEAMSHIP CO, LTD.

017-873 one of the fluest oil plants In

1977!1

1129 135-127 077736

the world. The project will mean an investment of $42,000,- 000 and will take 2 years to complate. The oil will come New York, July 10.

from Indonesia. -United Press, Trading fell off to the lowest

stilt-bas to Now York, July 10.

The Philippines made in October for more ex- level since June 1 end tha'stock

Copper, lend and zine futures lek its No. 1 problem-the Com- ots port:

market sild downward in the closed quiet, no sales. Asso-munist-led Huk rebellion-but on i Bilglum 24,000 tans; Brazil

the absence of demand,

American whole, as na 5.000; Czechoslovakin 5,000:

economist put it, all signs augur The volume was only 890.000 clated Press, France 30,000; Germany 23,000; shares, Industrialy test the same

well for the political and 0,000; amount they aained on Monday,

economia sintility of the Philip- Philippines-United Press.

aly 25.000; Japan

Netherlands, 6,018 Lond; 3,000; falls ranged to over a pin Pepper Marketpines and the prosperity of the

Boaln 2,500; USSR 4,000; and lower, Utukles nelted, a small Unlied

ted to

• sallim 50,000,

improvement. The market: suffer

Pakistan

Is exper-ed "more from inattention than

Juts

New York, July 10.7 India with 145,- any position developmen's Of The binek pepper market con-

Associated Press.

48 Bonham Strand W:Tels: 25646, 28127

81119.

Pacific Far East Line, Inc.

Fast Regular Trans-Pacific Servico

'DIRECT

BAN FRANCISCO, LOS ANGELES

Vanil

“PHILIPPINE DEAR”

000 tons up to October 31, 1051. 1.039 Isskos draded, 15 declined, tinued quieb and generally Exchange Rates EDDAR LUCKENBACHI

An unspecified quantity or 234

advanced and 201 were unchanged. Dealers has also been reserved for unchanged. countries not named Individually above. Exporters who wish to do business with any such coun- iry have been asked to apply to the Jule Board which will issue ficenass freely until the quota Lis exhaunlod-United Press.

250.00

some interest in July shipment póź

Builhete was done in the locat Don Jones averages at the end $1.85 a pound, but sellers held |

tinofficiales hangosnarket; this at the soulon stood as follows: out for 61.60 on an ex-dock basis. morning at the following rates)

According to trade rumours sariling note.(per (33) a 16 23. 1, LUCKENBACIT 775,19 aome inaterial might be available US Dollar" "(par" #1) joTOTE

49.00 on a bid of $1.00, indian offer Indonesia, sunders, por 3005

Hism Heals' (per: 109) centMAY 27,00 170.88. ings ranged from $1.00 to $1.00. Singapow!{Stroma)|iryRARED 1700 United Frossa pound. Unikou Press.

·FIC panel (por-100), kivita.) 15.20

20 Industripls

20 rails

18 uulitles

40 bonds

200

· OVERLAND ·

NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CIZIKE

San Francisco.

Arifves.

Bapt

Bath-Trancisco Be: Los

For full-partioniars csil: United Bistes. Linea Cos Coneral Arenia, Queen's Building, TI