1951-07-18 — Page 9

R.I.L

ROYAL

Date

Ja Port

72ud Joly

1

Aug

151 Aur.

4th ADE

Atte.

8th Aug.

210 Alg

מוו

201

Judy

3rd

AUK.

5th

Aug.

602 Aur.

GI

Aug.

ANE.

ALE.

23rd ABE

Dale

Ship

"AUY"

INTEROCEAN · LINES

"TJIWANCr* "BOISSEVAIN"

ARRIVALS

*VAN HEUTAZ" "TJISADANE“

"TABMAN"

**THITJALENGKA" “DOIRSEVAIN"

"RUYS"

**TJIWANG

"HOUSEVAIN"

OVAN HEUTAZ”

"TJIBADANE"

"TASMAN"

Здран

Fram

Marantar, Java Ports & Sngapore 3. America, 8. Africa, Ningaperr,

Saigon & Manila

Japas

8. America, S. Africa, Singapore &

Manila

Japan

Macasar, Java Fori Alatapare Japan

SAILINGS

STJITJALENGKA”

"B015SEVAIN".

Το

Manila, Hingapore, 8. 8. America

Africa

滥

Singapore, Java Parts -de MacanuST Адрад

Singapore, Penang & Delawan Dell Japan

Weimarang, T. Frick 2 Belawan

17e26

Singapore, Javn Ports & MACARRAY Mantia, Singapore, 8. Africa & 9.

America

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Ship

21st July

"AAGTEKERK"

13th AuguAL "AAGTEKERR"

2nd week Ang. "ALMKERU" "ALMKERK” Mid. Hept

24th July

"AAGTEKERK"

17131 August "AAGTEKERK”

2nd week ARE. "ALMKERK"

Mild. Sep. "ALMKERK"

From

Europe & Alngapara Харат

Europe & Singapore Japan

SAILINGS

Japan via Manila

To

Manila, Singapore & Europe Japan via Manun

Manila, Hingapore & Europe

B BAKINGSEBUILDING=TELEPHONESİ="BOTSTOVODGE |

Foreign Buying Of Gold In U.S. Shows Big Drop

Washington, July 18.

THE CHINA MAIL, WEDNESDAY, JULY 18, 1951.

Kwangtung's American

American Move To End

Grain Crop

Tokyo, July 17, Peking Radio sala lo- night that the grain crop In Kwangtung Province was expected to friertane by 107,000 tons as a result of irrigation works con- કાted surlor" the past half year,

The

Radio

added that

sugar cane, jute, tobacco. alik egroan and fruļi trops had also. Increaseit greally-Reuter,

DULL DAY

ON LONDON

EXCHANGE

London, July 17. Trading was light and price changes minor on the Stock Exchange today.

Brigh Government boods held steady. Shipbuilding stocks. and other selected Industrials scored small galus, Texile shares were slightly lower.

World Monopolies In Rubber, Tin And Wool

CALL FOR UN EFFORT TO CRUSH

"RESTRICTIVE PRACTICES”

United Nations, July 17.

The United States gave strong indieations today that it is going to ask the UN to do something about world-wide monopolies in wool and rubber.

Without specifying the countries or products aimed at, the US. delegation has announced that it will ask the UN to create international machinery to crush what it calls "restrictive business practices."

The move threatens to tramp on the toes of America's allies in the UN, as well as some enemies.

any negotiations, theso Eources said.

That may be why Isador named to head the British team Lubin, head of the U.S. mission to the Economic and Social Council meeting The Financial Times Index in Geneva, is unwilling to

was 130.8, unchanged.

Japanese bonds

"A" 14. of 1000)

“D” (51. of 10101

"C" (B%. of 1907)

"D" 18 of 10345

1115

me names until he gets into the 18-nation session 151 opening on July 30.

An aide said, "The State De- partment is playing its close to the vest of this one. We are not going to tip our hand."

He added that the US, state-

"E" (899, of 1934) Consola Associated Press and United Press.

ADVANCE IN NY

New York, July 17. The stock market advanced today after early hesitancy was erased by modernte buying in- 1erest

Leaders limited their gains to around the dollar a share lovel. Fractional losses were scattered. Volume was around 1,200,000

shares.

Chief interest

was the sharp advance of Shell Oll, Northern Pacife, Amerda Petroleum and Montana-Dakota Utilities. These tied together be- Issues were cause Shell brought in a new important wildcat oil well in Jensed Montann on property from Northern Pacine near Amerada's Discovery well in the Williston Busin of North Dakota, areas served by the

Bonds were mixed, with changes narrow.

Foreign purchases of United States gold have Montana-Dakota Utilities. dropped sharply after a year-long splurge reduced this country's reserves by more than $2,500,000,- 000.

The Treasury reported today that the second quarter of this year's net sales of gold to foreign governments totalled only $55,000,000.

be-

The sherp drop was ileved to have been caused in part by the reduction in the States United amouni foreign aid-a nujor source of American dollars which could

be used to buy gold.

The United States bought large quantities of gold from

THREAT TO

CUT QUOTA

foreign countries during and OF COPPER

imtmediately, after

World War

If when selling gold, was one

of the few ways Europe could

guld source of dollars.

Washington, July 17.

the

Curb stocks tended lower. On downside were Consolidated Smelting, Crepio Mining and Petroleum, and Kaiser Frazer.

Dow Jones Averagest

20 Industrials 15 Rails

10 Utilities

Associated Press.

cards

ment was issued at the urge of numerous other

delegations who were mystified by the U.S. entry on the heavy Council agenda. They wanted to know U.S. more about what the

wants to do on "restrictive business practices.".

Rearmament commitments under the North Atlantic treaty. have put a heavy drale on Britain's finances, and the Gov ernment was convinced that now is the time to put the brake on prices terials.

In the past year, raw ma terials Imported by Britain have gone

up by 72 percent and the overall import bill in

of raw ma-

creased by 42 per cent.

On the other hand, export prices hove

risen only by 18

percent.

TERTURES MADE

sald MI sources Gaitskell outlined the plan to

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this

morning was valued at $218,404.85. prices and the morning's trans- acions: SELABES BUYERS SELLERS BALES

BANKS

HK Bank East Apa INSURANCES

I re...

K. Whatt..

42

***

Noon

ધ્વ

MESSAGERIES

MARITIMES

MOM

"AURAY "GRENOBLE”

ARRIVALS

from Japan

from Europe SAILINGS

"PASSENGER/FREIGHT SERVICE

"LA MARSEILLAIST”. "LA MARSEILLAISE.

*AURAT*

to Japansk

10 Marnstijan

FREIGHT SERVICE

20th July 24th July

Dth AM. 2201 Aug.

....2, Africa & Eurono žixi July „N. Africa & Europe 17th Aug, ....N) Afelen & Europe Bath ARE. N. Africa & Europe 3rd Oct. for

PORT SAID, TUNIR, MARSEILLES, ALGIERS, ORAN, TANGIED, CABABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

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

Tel. 28851 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY BELVICE. TO: A

NEW YORK, BOSTON, BALTIMORE ♣ PHILADELPHIA, vis

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "GRETE MAERSK"

...1405 1500

100

July, 31

243

Union

745

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

Aug. 14

Aug. 28

Underwriter - 3.60

4000₫ 3.50

135

ARRIVALS FROM U.S.A.

0 2900

M.S.. "LAURA MAERSK?

Aug. 8

14

2.40

M.S. "HULDA MAERSK"

Aug. 21

M.S. "TREIN MAERSK”

Sept. 4

600

For Freights and Further Particulars please apply to:-

AGENTS:

the Organisation for European DOCI ETC. Economic Co-operation in ilke in Paris last week. He was re- ported to have made dennite

N. P. What 4.35 Dock

S'hal Dock

105 Koiaj .. 4.00

HK Land

Shat Land

Humphreys

UTILITIES

.. 2001 0015

1.15

0.00 0.50

Tram ... 131⁄2 131⁄2 200 m 131% Glar Terry .. 7214.

C. Light (0) 7.10 1.20 331 17 C. Light (N) 430 4.50 2000

The U.S. answer is that the U.S. has had a trustbusting policy in this country for years. overtures to other countries aim-LAND, ETC. It has tried to stimulate tradeed at lining up support for the although he pro- and competition by entering programme

to be

"thinking tariff-lowering barriers. It ap- fessed only

the aloud." proved the creation of

If Mr Gaitskell wins enough It Europeau Payments Union.

pro-support to overcome any pos the strong applauded

sible. United States objections visions against the monopoly and set up international con- restraints in European coal and trois, it would have definitely steel

included in the industries,

favourable political repercus- Schuman Plan.

slons in

In Britain as

led by "The U.S. is convinced that

Left-wing Labourites, the facts will show that mono- Mr Ancurin Bevan,' charged that polistic practices on an interna- the Government was neglecting Bonal scale can and do keep | Britain's. damestic econcile

priess unduly high....and hold pechisms in an attempt to korp real wages down," the U.S.! LM with America in the arms statement said.

rate

2:000

C. Light (3) 0.90 0.95 6540

Electrie

27 27% 100Z Teicnbon ..21% 1335*

INDUSTRIALS Cement... Rope STORES, ETC.

Dairy

Watson

FRIVATE CARTELS

Although it was still unknown. 253.89

Charging that private cartel what the United States attitude 75.93

international price Axing interpose an arrangements woul 43,67

restrictions that stunt indus would be, these scances pointed COTTONS

Ewa Tejcolad trial and

growth,oul, the United States commercial

Sur proposals from and defeat trade stimulation similar

the Stafford Cripps, Mr Galtakel's moves already

years ago, predecessor, twa United Press.

Decline In

NY Cotton

March

May

July

October

December

34.01

34.66

3468 ME

34.ta

New York, July 17. Colton Cutures closed 75 to 95 obtain badly needed dollars. Commerce Department oM- cents a bale tower..

34.74 But the Marshall Plan

October re- cials said today the United

December plaused

the primo States copper export quota for

Eventually,

India will be cut drastically if there is any indication that the foreign govern-

war ments with enough dollars to metal might be used for

gold they cold with Pakistan.

Omeinls in

Com- both the merce and State Departments expressed growing concern over The United States gold reserve the deterioration of Indo-

about $22,000,000,000 Was

resulting

It provided

buy back the

to the United State a few years earlier,

to $21,750,800,000.

NOT ALARMED

relations

in Pakistan 1840. By the end of 1949 from the massing of Indian reached the pealt of nearly troops on the Pakistani frontier, $24.200,000.000. ow it's down Events there are being watched closely and a State Department official said information was ex- Treasury officials were never | pected at any moment through almed at foreign purchases,

oficial channels from

New because the United States st Delhi and Karachi to shed morn had far

than it light on the situation there. more gold. actually nerded, There

A high polley-making official

legal minimum which must be in the Commerce Department held in the Treasury -- about said the copper export quola for $11,000,000,00q-to back up the India will depend

on further information on the possibility The males also turned out to of war between the two coun- It is still too early to

currency.

བ

•tries.

he a handy tool against inflation, tries what the result will be, he because

foreign governmenta say deposited in American banks 10 said, because the present, ple- pay for gold, thus reducing the ture of events there is based on amount of money in circulation. } rumour, claims and counter-

But United States oifleials pre claims.

suspicious that some of the gold The copper export quots for lu found its way into the black the third quarter is expected to market abroad where It is

net within the next two

be

being sold for $12 per ounce weeks, he said, and if there is compared with the $35 official

any good indication that India

sale price in the United States.

32.73 nominal 32.50 bid

38.30 nominal

Middling spot

NEW ORLEANS MARKET

Cotton futures closed 45 cents to 75 cents a bale lower.

October

34.61 34.47-48 34.02 34.56 3421 bid July Spot closed $3.75 bale lower. Middling

37.25 Associated Press.

December March

May

TEXTILES STEADIER:

New York, July 17. The cotton textile market `display- en lightly steadier tone today. The wool market was quiet, with interest

Government Socused on orders.

Rayon goods were elated Press.

taken..

statement went on:

."Many of the private ar rangements which restrict trade extend boyong the juris- dletion of any one country. In- ternational collaboration there- -Core-is-necessary.

Biggest Works In

Europe

"Much is already being done within the UN on the subject of governmental barriers to the International movement of There is at present no goods,

of the problem consideration created by private cartels.

Port Talbot, July 17.. U.S. considers It highly impor

The biggest steel works in tant that this subject also examined by the UN and will Europe-It took four years

form of inter- build the tional action which will best promote competition, as against restrictions, In

be

11.54

11.40

11 11.10.

24 141⁄2 100 m 3415

10

1000 14.30

1000 14.39

21.30 2100 cm *2.50 2000 2.30 2000 230

·TIN MARKET EASIER

London, July 17. Prices of tin were casier this "morning." Tumover wagTM-110 tons, including 30 tons for cash. Prices closed of the end of the official morning session as follows:-

at

JEBSEN & CO.

Tel. Nos, 860G6-9.

Pedder Building

PATTISON ORIENT LINE

LIMITED

S.S. "LAURE PATTISON”

DUE FROM:

LOADING:

Kobo In Fort ̄ ̄ ̄ ̄July 18th & 19th

€37. 94214 84211-840

8:0

12-14 Queen's Road C.

Bia

Spat tin, bayers Spot up, sellers Business done st Three-months tin,

buyers Three-months tin,

sellers

017-815 Rusiness done

BID United Press. Settlement

New York, July 17 Copper, lead and zino futuros Owned by the Steel Company closed quiet, no sales.----Asso- of Wales, the Abbey Works,ciated Press. covering over 240 hectares, re- present the greatest industrial

£00,000,000 and cost was opened here today by the Chancellor of the Exchequer, Mr production Hugh Gaitskell.

and distribution of goods."

Informed business quarters recalled that much has been said in recent months about the

rising prices of tin and rubber, project undertaken in the Br Rubber Futures

controlled by British interests. SOVIET ATTITUDE "The same goes for wool and for the cocoa that

tish Isles since the war

Altogether, the plant will produce a million and a quarter goes tons of steel sheet and tinplate into your chocolate bar." one year and will employ 8,000

British men. authority said. "The

may deny it, but either.

thoy

The plant has one of the

In S'pore

Singapore, July 17. Prices of rubber futures closed day as dollows

159-13915

133-1331

or their Commonwealth coun- largest steel strip mills in the Number 1 rabber, per lb - slow.-Asso-

tries have a great deal to say world, producing 500 kilometres about supply and price of of steel sheet a week.

Do

August September October

Black crepo

] Number 1 rubber, August Built with the help of dollars Number 1 rubber, August 129- raw materials.

U.S. has

real from Marshall Aid, it includes Number rubber, August monopoly. There are other big nearly 20,000 tons of American Spod rubber, baked

to pcbinery costing $20,000,000-No. 1 pala crego all interests in the world. challenge ours, we have bigi Reuter, but not the only aluminium industry, and agreed to

TheThe

Grain Prices

In Chicago

Chicago, July 17. Prices of gin: futures closed,

The International Monetary might divert its copper imports here today as follows:-

Fund rerently asked all mom- ber countries to guard against the black market because of resulting pressure on the United States to raise its oMcial prico The

stead- Treasury refused Instly

this. United Press.

to

DUPONT! SALES INCREASED

Wilmington, July 17. The E, I. Dupont de Nemours and Company reported sales for the first six months of this

totalled $770,000,000 year

32 per cent higher than a

to bullets, the Indlan quota will

be cut-United Press. ·

Conference On Germany's Debts Ends

London, July 17.. The three-power preliminary Germany's ex- conference on ternal debts ended successfully here tonight according to usually reliable source.

Wheatprice per buchel,

2014-1

just we have

ощ allocato

sup

Chinese Agenta:

SAILING FOR:

Puson & Japan'

July 20th

Tél: 26846.

OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W. Tels; 25646, 26127 r 81119

THE TWO GREATEST NAMES IN NAVIGATION

KELVIN & HUGHES

(MARINE) LTD..

REPRESENTED BY:—

JAMES J. KING

The Hong Kong Countryside Throughout The Seasons

NAUTICAL OPTICIAN. G. A. C. HERKLOTS

-United Pred,

ST. GEORGE'S BLDG. TELEPHONE

35993.

Dileg of industrially important New York Sugar Exchange Rates REPAIRS TO ALL TYPES

sulphur conomic

and

Social The Council has three Soviet bloe members in Russia, Czecha- slovakia and Poland.

The U.S. move at

Geneva

OPTICAL, SCIENTIFIC, AND Binlinech was done in the Ineal NAUTICAL INSTRUMENTS

by

$25

Second

Impression

On sale at

morning at the following FALE CARRIED OUT BY HIGHLY Kelly & Walsh, Ltd.

713 TRAINED

TECHNICIANS UNDER PERSONAL SUPERS, C. M. Post, Ltd.

Futures

New York, Jiya 17

lower, 126 con-

unofficial

marker exchange

Sterling sale. Îner Sik, ka** US Dollars (per, si ... Indonesia “güthiers" (per, 300) so sickle cper 100) Mingapore (Bernika) MIC, plutoser (per 100).

this

16.43

3.30

1.201

113 VISION

machine-tools

and

closed 5 to 10

strategic material

World sugar futures closed ls expected to bring an out today 7 to 13 points

the Soviet bloc, with sales totalling cry from which wants ball-bearings, tracts.

other

Contract No No.

the West points tower, with sales total- bars to them because they are ling 128 contract. afraid it might be.. fred back

Prices closed as follows:-'

Spot

July

September

December

Blarch (1982)

May

Corn

Brat

243-43 2.438

1.00

July

September

December

In bullets, and bombs

some

March (1033) May

September agen

day-Associated Press.

BRITAIN'S ATTITUDE

Merch

*1.036 bid

1.031

May

Britain's

78 bid 7714-

Jittery

By July Beptember July September New York four-por-200 1. Back. $12.85.-United Press.

Seeds And Qils

Loudon July 17:

· Contract No. 4 (um103

Jonakry (100DZI

A

2.41 614

0.91 iraden

BÃO natainal 1.41 Omahal

* Dominat

and

HONGKONG & KOWLOON

Pacific Far East Line, Inc.

Fast Regular Tramp-Pacific Service...

StatutorERLAND

NEW KOBR-CIÍÇANG DETROIT-TORONTO MONTREAL, AND ALL AMERICAN D DANARIAN, CETIKK

DIRECT BAN, FRANCISCo, Los AnⱭkleS

2.4t rettung

Vol.

Hallow

- 8.00 nominal

"ERQAR LUCKENBACI“

·July 23.

Ban Tranciado

Has PranešiOO:

Labour Government | september about, the country's spal

Contract. Not traced! delicate conquile balance, will september klajt soon ask for international pricey (1852) controls. Informed sources, said today. A final conference of about

The

for Morkethe'; 25 natio

nations will be held in Lon- don in September to work out

Exchoquar, Dr. Hugh Geliskall, tho was expected to: present similar period last year, an overall formuld for an in-

In

Now Yarit, July 17. House of Commons with a pro- П preliminary report which does not include net international agreement on Ge

many's external

Prices in the goods and oils posal that the International

Ini come for the. · period the Come The representatives who at market here closed today un-Commodity Conference

With the following Washington take up, the que par firat & bhi framings for the tended tho discussions will, now changed? pany

Bald

to 12.00 study.privately the various | exceptions;

́tion of controlatazu woll us quote share. Last year cuttings for other aspects of the doble prob- Castor Beod, per long ton allocations of stringit materials, and traders and they could da the six montha, equalled $2,69 lem until they reconvenein |FOB,

Mr R. Stokes, the Minister { business at that level. asharaAssociated. Pross, September.Router.

of Materiais, would probably-ba | Prass,

Brazilian Port,: 2,40 nomibal,United Press.

Bept,

6 m la gua! For

Ban Fringisco à Los Angeles

vin Kölờ, Nadora' & Yokohama

San Francisco di Loe 'Angeles -

via: "Tokohama.

"Los Angeles:

For full particulars' onli United Staion Lizen Co.... Ceteral Agoniu, Queen's Building, Tel: 28198..