THE CHINA MAIL, TUESDAY, JULY 17, 1951.
MESSAGERIES MARITIMES Big Oil Strike
M
"AURAY "GRENOBLE".
ARRIVALS from Japan
from Europe SAILINGS
M
PASSENGER/FREIGHT SERVICE
**A MARSEILLAISE" "LA MARBEILLAISE"
"AURAY”
"QUISTREHĀM”
"MEKONG"
"MEINAM"
to Japan
to Marsellies
FREIGHT SERVICE
20th July 23th July
'th Aux. 22nd Aug,
‚N. Africa & Europe 21st July N. Africa & Europe 17th Aug. .N. Africa & Europe 20th Aug, ..N. Africa & Europe 3rd Oct. for
FORT BAID, TUNIS, MARSEILLES, ALGIERS," ORÁN, TANGIER, CASABLANCA, HAVRE, DUNKIRK,
ANTWERP & ROTTERDAM.
In Montana-
Rich, Montana, July 16,
Shell Ou Company has made, an oll strike rear hero that la 'producing about 1,000 barrels daily, and is rated by old timers Sti the business as a “momen- tous Bnd."
An all-industry spokes- sald the Company planned to go 10,000 feet down but hit ofl at 7,300 feet.
He said the "whown there is more all in the structure than in the entire State of Oklahoma," Apsoclated Fress
Effects
British
Government
British Considering Removal Of Price-Fixing
London, July 16.
Britain's Labour Government-taking a cue from classic capitalist theory is thinking out loud about freeing retailers from price-fixing
· arrangements.
*
The move is in a formative stage. Apparently the bulk of the re- thilers do not want to be emancipated. They helped to forge their chains theinselves.
Nor is there any great public clamour on the! subject. Price-fixing by businessmen has been so
CIE DES MESSAGERIES MARITIMES Of Truce much a part of the British economy since World BUYERS IN
A LIMITED COMPANY INCORPORATED IN FRANCE
Queen's Building
Tel. 26051 (Three Lines)
On U.S. Business
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHILA, vis SAN FRANCISCO, LOS ANGELES AND PANAMA.. -
NEXT SAILINGS
M.S. "LEISE MAERSK" M.S. "GRETE MAERSK" M.S. "OLGA MAERSK"
ARRIVALS FROM
M.S. "LAURA MAERSK" M.S. "HULDA MAERSK” M.S. "TREIN MAERSK”
In Port July 80 Aug. 14
U.S.A.
Aug. 8 Aug. 21 Sept. 1
War I that the system was seldom questioned here until quite recently. Attention was focused on it this year largely as a result of the world-wide jump in living costs.
on
per.
LONDON MARK TIME
Obviously, if the Labourites! Such price cutting in Britain hope to pull down or even sharp in the late 19th century planted
London, July 16. New York, July 16. ly modify the pricing structure the seed for the association sys-
interest tem of control. The Proprie į Buyers on the London must steam American they How would
among consumers,
tary Articles Trade Association Stock Exchange were in- business be affected by
To this 2nd the Party's (PATA) was the first such clined to mark time today cease-fire in Koren? Most Nations! Executive Committee organisation and is still prob- while awaiting develop. observers
the im- Issued a statement saying price-ably the strongest. agree
about one- fixing now COVCIS
Formed iti 1890, it enforces ments on the international effect would be third of all goods sold in shops mediate
prices on patent medicines, scene. fewer sules and at lower and "means high prices to the veterinary. toilet and
consumer and increased slagna- fumery preparations and infant Price trends were irregular in prices.
tlon to the distributive trades."
and invaild foods. By 1947 its light trading. British Govern- Prices on a numbered There is general agreement on protected list included about ment bonds were fractionally off have already be- cause of huge stocks and slow the scope of price-dixing but
but 2,000 articles representing about at the close. sales. In the week ended June intense disagreemen the 90 per cent of nationally adver-
Thousands of tised medicines and drugs and Textile and oll issues finished 23, department store sales were system's results,
In the mining only six per cent above a year British manufacturers, whole- 70 per cent of the trade in toilet mainly lower.
and drug store section, blue chip coppers ran ago in dollar volume, with unit sabers and retailers contend
against the trend with Arm volume well below the year age present pricing methods make Preparations level. Some businessmen be for stable marketing conditions sundries.
Many of the associations in gains. fleve in end to hostilities in and ensure businessmen a fair other trades based thelf consti-
Resumption of the Korean Korea would reduce present return.
tution and rules for this view the PATA.
truce talks
inspired fresh selling by around 10 per cent.
What resistance there has speculative buying of Japanese As for range from six.to 25 per cent.
been to price fixing has come bonds. The 1007s closed at 75, In New York City, department
chiefly from large rotail estab- up one, the 1910s at 56, up 4, store sales in the week endled
fishmeals such as department and the 1930s at 95, up 114. storca and Co-operatives,
Financial Times' daily index: June 20 were nine per cent above
Many large stores resent sur-
130.8-Associated Press, cials sald sales were still show-
rendering pricing policies to an ing the Impact of the price war,
outride body. Some feel they
prices down but that it was tapering off. But
could bring
by they said an end to the shooting
efficiency and instituting now! in Korea would be likely to drop
methods along such lines as the both sales and prices.
self-service system.
A spokesman smid:
the
price cuts, predletlouis point, do not believe the con- sumer is victimised. Quite the contrary, he has protection of knowing what price he should pay for gouls.
ㄧˋ
For Freights and Further Particulars please apply to:-the same week a year ago. Om-
AGENTS:
JEBSEN & CO.
Pedder Building
Sharp
Tel. Nos. 36066-9.
Decline In
Cotton Futures
New York, July 16.
Cotton futures declined sharply today, reflect- ing the resumption of peace talks in Korea, favour- able growing weather in the belt and continued dullness in the textile markets..
Grain Prices
Decline On
Peace Talks
Chirago, July 10. The resumption of the Korean peace talks carried grain futures lower today with wheat elasing und soybeans 1% to 3 lower 3% to 8% lower.
Prices of grain futures closed today as follows:-~~
Wheat-price per bushel
2.364
2.342
1.2014+ 2.4152-2.41 2.4311-43 2.64-2.43% 3.70%
After opening 8 to 30 points lower the market at the float bell was down 38 to 42 points.
There was more talk among dealers of the possibility of a large movement of “cotton-into Government loan in the next season. Some felt that if futures moved down to 34 cents a pound a minimum of 3,000,000 bales of 1951 crop would go into the lonn.
advices
On
were
trade Washington
farmers many said planning to put cotton in loan in the belief that prices will
later
next work higher season. Others look for exten- sive hedging operations in the futures market when the crop movement becomes heavy in the Autumn due to the prospects of a large cotton crop.
Pres elcsed today as follows: 41.74 nomina} Spot October
34.02-34.03
United Press.
tence
อวW
"If the system was changed, there would probably be specta- cular bargains here and there when shops offered lost leader items to attract new customers, But for every item sold below cost
retailer has that way, the to more
OFFICIAL VIEW
many
10
on those of
WALL ST DECLINE
New York, July 16. Prices were down sharply in the stock market under light but stendy selling pressure.
The downturn hit bottom a! the close after prices milled around the better part of the version without developing o decisive direction. Lossen ran to between one dollar and two dollars a share among leaders with some off more than that.
Volume of business was held within strict limits, coming to Sir Hartley intends to move an estimated 1,200,000 shares for
Last
in Washington, De-
The Co-operatives, started a How Cobiliser Charles Wilson
century ago, do Д sizable sold he regards the present on other goods. The consumer's amount of the total trade in economic lull as temporary. He total purchases would come to
lines. Bald when military
production pits going full blast stocks about the same amo piled up will disappear and it will be harder to replace them. In Detroit, u spokesman fot automobile manufacturers pre- dicted: "It will be difficult to buy a new car by the year's end."--Associated Press.
HONGKONG SHARE MARKET
[From Our Correspondent)
Business clone on the Stock
this morning
was Exchange valued at $803,780. Noon prices the morning trans- and actions:- SHARES DUYERS SELLERS SALES
HK Bank .. 1190 1519
DANKS
East' Anta INSURANCS
Conton Union _HK_Fire_ DOCKS, ETC.
103
740 700 435
K. Whare .. 13295 N. Pt. Wharf 450
1300
1,000
6
23
500 39
The Board of Trade has n different view. It believes the present system prevents the alert, progressive retailer from passing on the results of His
nes, particularly food and clothing. They are allowed to distribute dividends on some The articles but not on others. prohibitions have always an noyed these powerful organisa- tions.
| efficiency to the consumer in the carefully, A source at the Board the 2.000 shares the total |
of legislation
now
of lower prices.
of Trade said the bill hitting was This is stressed at a nows price-axing will not be in-
nt
Big gains were made by issue: conference when Sir Hartley troduced in Parliament un mentioned as being candidates
President
after of the soon
it reconvenes in for splits, Rohm and Haas Shawcross,
(Chemical)
by far the Board of Trade, discussed the November-Associated Press.
biggest
jump-nine
dollars. Others in the group soared ut times from one dollar to around four dollars a share. They in- cluded American Cynnamid Dow Chemical, Mercy, and US Gypsum.
"We
drafted, He said:
want
to make it clear:
Wo
that it is no offence, civil or criminal,
to sell cheap. would reconsider the matter, if tho competition became too ferce. But we want to set the traders free."
motorcars
and
STRIKE AT
SMELTER
system is a... DRAGS ON
are
Storm
tho
Another issue mentioned as a split possibility-Zenith lost
than three dollars
more
share.
♪
252,31
75.00
R.I.L.
ROYAL INTEROCEAN LINES
Dutè
18th July 2nd July 27th July..
27th July 4th Aug
1th Aug.
_ROM AUG
21st Aug.
31st July
tóth July
1th July
314 Ang. sih Ang. fith Aug,
21st Aug. *24 Aug.
Date
Bhip
"RUYA”.
"TJIWANGI" “2018SEVAIN"
"VAN TEUTSZ" FJIHADANE"
ARRIVALS
“TASMAN”
TJITJALENGKA"' "BOLIEVAIN"
-RUYS*
«VAN HEUT#Z”
"BOISHEVAIN"
TJIWANGT
«TIIBADANK"
#TASMAN"
Japan
Fram
Mer, Java Porte
Singapore
3. America, 8. Adrien, Ringapore,
Saigon Mantis
Japan
8. America, 8. Africa, Singapore di
Manli Japab
Macarent, Java Porte &
арал
BAILINGS
To
Singapore
Manita, Aingapore, 9. Africa, &
1. Amatien
Ribespore, Penang & Delawan Doll Japan
BIDEAPATS, Rya Forts & Macassar JADAD
Bemarang, T. Priok
Belawan
Dell
#TIFTJALENDRA".
0189EVAIN"
Singapore, Java Parts & Marase Manila, Singapore, B. Africa & 8.
America
Agents: HOLLAND EAST ASIA LINE
ASRIVALS
Ahip
"AAGTEKERE”.
From
Europo & Singapore Japan
it foly 11th August "AAGTEKKBE” 208 Merk Aug. "ALMIKERE”. Mid. Sept.
24th July 17th August
"ALMKERK"
"AAGTEKERK“
Europe & Blogapore Japan
SAILINGS
KERK" V
tod week AJI. "ALMKEAR" Mid. Rept. "ALMRERK"
То
Japan via Diamila Manila, Singapore & Europe Japan vla Manila
Manita, Bingapore & Europe
# KING'S-BUILDING SHELL PHONE SĄ 2801 ET MÊMET
PATTISON - ORIENT LINE
LIMITED
S.S. "LAURE PATTISON"
LOADING:
DUE FROM:
Kobe July 17th 18 & 19
12-14 Queen's Road C..
SAILING FOR:
Pusan & Japan July 20th
Chinese Agents:
Tel: 26846.
OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W. Tels: 25646, 26127 r 81119
Peace Talks
Make
Little Impression On U.S. Industry
New York, July 16, Cease-fire talks in Korea have made little impression on business and industry.
Britain's- web-like
*IL struelure.
has
The bulk of the list was lower grown up a bit at a time and
and included such major groups operates with many variations.
New York, July 16.
motors, utilities. the as covered
steeks, warnings from Among articles toilet and medicinal
oils, copper mining, prepara-lobeur sector of the non-ferrous railroads, 30 a 1495 tlons, patent fasds, swees metals industry went up as a and rubbers.
most 'Among Gots 1500 tobacco, hairdressers'
active stocks supplics,
strike at one of the nation's 30 # 1490
stationery,
hardware, books.
amelters was Benguet Mining, unchanged copper bicycles and
motorcycles, principal
dragged through its second at 13% on 14,800 shares. accessories, dragg
Dow Jones Averages:- Stocks radics and electrical appliances week with no sign of settle-
Manufacturers may
deal ment
The strike at the American 20 Industrials
There is a growing feeling that defence production to distributors directly with
Garfield, Ulah, 15- Railg
43,50 10 Utilities see that prices are kept at a Smelting,
would continue in high gear despite the outcome of any already has curtailed S'hat Dock. 240
certain level. More commonly, smelter
Corporate bonds were nar-
peace manoeuvres. Wheelock •
light trading. operations at the Ken- however, this is done by asso- some
rowly mixed in
per cent higher in Some business man took the were one LAND ETC.
gintions made up of represen-necoit Copper Corporation re-tilities were in some demand. HK Hotel 4.90
Issues continued view that a real peace might car vohme than in the cor- of 1950-A- Japanese 1X Land 39 3915 500 31.50 tatives of manufacturers, whole-finery In Utah, supplied from The
mean a temporary sackening responding we smelter. Garnett
for thele rally to turn in gains salers and retailers.
in some industries but that the sociated Press, PROTECTED LIST
entire smelter processes the
the most
from part running
tempo of defence work would ef Kennecott's Bisam fractions to nearly three points, In a typical case each manu-| output
roon pick up again, steadied 100 m 7315
' in the
which accounts Governinent bonds asseclation Canyon mine 10023facturer
Ary softening, they believes, 400
on his article. for around 25 per cent of the after a slight softening early 730 places a price
About three-would esme principally in in- in the session. 500 Enforcement is the duty of the US. domestic production,
out civilian dozen dustries turning 3000 1,25
for copper, quarters of some Urgent demand
The goods industrica which have C, Light (N) 430 4.55 2000 430 association,
Issues closed unchanged, Often the associations distri- lead and zinc continued 500 4.35 700 Gbute a "protected List"
to re- abated. Mine production of cop- others added 1/32nd to 2/32nd already felt the Impact of
mounting defence orders. 7. 0000 45 0.96
1000 8.00 dullers selling out what the per declined in June to 70,804 of a point each,
The factories rolled out their Bond sales on the stock ex- from May's 80,809, the 5000 A 6.96 prices should be. Sometimes tons
371; the associations make test pur-Copper Institute reported. Re-change totalled $2.443,000 par products at a fast pace, which chases to see if price cutting is fined production in June totalled value compared with $2,470,000 was not always reflected in the
105,127
lons, End of month on Friday,Associated Press. weck's stallstier. Many of the
lafest figures. were for perfor golog
Retailers selling below me stock were virtually unchanged
mances turmad in the preceding list prices are warned, and if at 09,912 tons-lest total so far
weck. 11400-101 they fail to take heed their this year.
1942
source of supplies can be cut off. The warning is usually enough, that its proposed order. taking Some associations also encour-over complete allocation of lead
UTILITIES
Tran
Star FerrY
P. Tram
C. Light (0)
1319
છે.
Spat
July
September
December.
March (1952)
May
Corn
December
34.78
Spot
July
September
December
March (1952)
Moy
3.7315-6 1,2011-1.11 1.019%-% 1,05% 11.0611
March (1952)
34.84
May July
34.75
34.45 nominal
October
32.00. bid
December
37.40 nominal
Rye
September
1,92 uld 3.3515
NEW OELEANS MARKET
C Light (B)
ÙALS
July
September
New Orleans, July 16. Cotton futuros closed" barely standy $1.05 $2.25
bole
Oct Dec. March
34.74 34.82-04 34.75-76
34.67 bld
a
Electric... ชุ
7000 Telephone 114 1714 1000 INDUSTRIALS
Cement...** 11 11.30 1700 STORES, ETC.
Dairy Watson 34.33 bid COTTONS
Ewe XD
**
14
1.05 #7.20
July
7514 7019-34 New York four-per 100 lb. Sack, lower. $12.95.-United Press.
New York Sugar May
Futures
New York, July 10, Worki sugar tulares closed today 3 to 8 lower, with sales totalling 28 contracts.
Contract No. U closed 1 lower to 2 higher, with sales totalling
140 contracts.
Prices closed as follows:- Contract No. 4 (world)
September January 1952) March
May
July Beptember Spot Contract No.
September January (10522
Morch May
September
July
Spot
O
July
Spot closed stendy $1.25 bale lower,
Middling 38.00-Associated | German
Press.
TEXTILES MARKET
New York, July 16. The cotton textile market was quiet today with most mills on the sidelines-Associated Press.
OTT
un-
N.P.A. notified lead producres
Debtage members to inform on com-will not became effective until
Problem
London, July 18.
petitors who cut prices,
widespread Clearly,
maite
by
13
The American Zinc Institute
Είνα
AIRLINES SET RECORDS
New York, July, 10. Trans-World Alrilnes pod
09-
The Rubber Markets
London, July 18. Prices of rubber futures closed here today as follows:- Number 1 rubber, in cente
per .
The over-all rule was gratify August ing and in the case of the 30-September tomobile Industry the catpic Deleber/Desember
January March was remarkable,
April/Juno atrikes, materiala Despite
auto and holidays, shortages
117,938 units. production hit
But
40%-4735 4574-4014- 414-4214
35-4
33 nominal
imited Press.
SINGAPORE MARKET
Singapore, July-10. Prices of rubber futures closed hero today as follows:- Number 1 rulber, per lb. August
September instead of August 1 co-as earlier phunned.
Felix Wormser, vice-presiden! and retailers
St. Joseph Lead Company and Brilleh. Overeens Airways Core That is well under the 194,073 优 to necessary
both reported new
of a year ago and not impres- the set-up work. A Gov-president of the Lead Industries poration
sively above the holiday week's Association, predicted that lead business. records. committee report,
Trans-World sold a record A steering committee today ernment
08,087.
STEEL ACTIVITY A began to examine and collate issued in 1840, said the present imports will drop to around
from "dis-250,000 tons this year compared number of nearly 63,000
its international
in the fac three separate secret reports system developed
routes during the first half of troubles that beses the Imhistry drawn up in conference here by tributors attempts to organise with the record 550,000 tons last sengers flew
your. 19
increase of 16.5 per 1051-an IN the tripartite commission on themselves in such a way
German debts.
to bring collective pressure on reported that elib zine shipments cent over the same period last are we bids.
The steel mills, eperated at Number ΟΙ branded
100.5 per cent of rated capacity. Its Andings are expected to manufacturers PRICES {
BOAC reported its May re- Their activity has been, phero- Number be made known tomorrow at a lines to fix and enforce retall rose to 70,299 tons in Jum from year.
menat for some time plenary session of the comunia-
for their goods."
Zine stocks held try #meltere ver.ue exceeded $7,000,000. were Some manufacturers London, July 10, slon's three working committees.
dropped to 15,791 tons from the first tlino in its history,
month's high
War Prices of in fell rather sleeply: Present preliminary talks on hesitant in the beginning. Most 17, during the months, Smelter Previous today. Turnover wha 170 tonk, Clermany's pre-way debla esti- of them went along, however, production declined to 77,070 $0,720,000 in April-Associated including 90 tona 'for ensh,
ions in June Crom May's 80.430. Press. mated at between £357,000,000 for the fobvious reason that Prices cloed at the end of the and £713,000,000 would then
they had eelal morning acssion ns be concluded, bet m
The three committees were set and
Find wore
6.04 traded
0.00 nominal
+
7,00
BIG FALL
TIN
4.07
Bed
5.54 nominal
3.54 nominal
3.03 -United Press,
U.S. TREASURY
POSITION
Washington, July-16, ---
follows:-2
Spot tin, buyers.
spot. Uni meliora-
Business dona et
"
77407 in May.
the distribu- |-Associated Press.
they found it
live lahed condi-
up a fortnight ago to study to change
detailed aspects
245 300-050 separate
the problem.Reuter, og
Three-montha sin," httydre, 120
Three-monitis
Duation done" al
of tiona of
stabli
this
23736-13016 13112-18312
alf the
September
October
Number 2
Mugust
for
August
August Anot rubber, unbal The American Iron and Steel Blacle erepe Tristitate reposted, for instance. No. palo eropo
In the Unika that blast furnaces Siales turned out more steel in
sub
3
103-100
-United Press.
the dicet half of 1961: 1tman over
before in blatory-production cf Ingots and size!
reneling 32,273,000
casting NY EXCHANGES
Britain
in a position errand voorat aine
Seeds And Oils They also Exchange R
Now York, July 16, c^ Rates
This was nearly be much tz New York, July 16.
200 1/10.00 Canada the combined cutput of Britain, Want to WAR FEARE Business was done in the loct
Prices In the keeds and oils France and Russia during all of 94.0014 Betgum. 1.90 Franke market horeclosed today un-1950 It compared with a total 0.28% Holland 20.32, Italy. Now, York, July 16. Even now the Labour Gov-noticial exchange market
mornbig at the following ralesh---
af 47,200,000 tore in the first 0,104, Sweden 19.30, Switzer= Dealers quoted copra no- ernment shudders at the proteins, note: (per £1) 15.da changed with the following ex-
haf cf last years and 23.00 Argentina 7.25, Bracti .... 61075 coptiona minally unchanged at $162,50 pect of touching off a stice war Ut. Dollars (per 843
ton
Tise Federal Reserve Board 5,50, Mexico. 11.57, Venozóin A year ago US$257,190,040 220,10 19 New York, July 30,
KEMET · 13CASH (per 1003- Gold Assets U8421,766,407,008-18 Copper, lead and dine futures per short ton Coboknúť bil Almilar to the one that deve-Bidonesiayuilders (per 100)...
at 12 loped recently in the United Singapore: (Bermitu),
reported that department stores 30.03, Hongkong 17.60, Portugal sales in the frat & wenke in July 8.50 Amoclated Premi A year ago: US$24,200,642,010,61 closed quist, no egles Associat- was quoted unchanged
conts & pound United Press. States. 77
Treasury position:
Total Dabu: US$204,932,920.200,10
Settlement.
olated Pressed Press.
United Prost
FIC plastres (per 100)
3.30
17.00 Castor Seed, per fond
1708 FO.B. Brazilian port, 2.36 bid 13.10United, Press.
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