1951-07-20 — Page 9

THE CHINA MAIL, FRIDAY, JULY 20, 1951.

MESSAGERIES MARITIMES Newsprint Co's Fall In

MOM

"AURAY "GRENOBLE"-

ARRIVALS

from Japan

from Europe

SAILINGS

PASSENGER/FREIGHT SERVICE

21st July

-28th 'July.

"LA MARSEILLAISE"

to Japan

"LA MARSEILLAIЯE"

to Marseilles - versa •*

oth Aze. 22nd Aur.

FREIGHT SERVICE

*QUISTREHAM"

“AUBAY"

“MEKONG"

"MEINAM"

IN. Africa & Europe 22nd July .N. Africa & Europe. 17th Aug. N. Africa & Europe 30th Aug. N. Africa & Europe 3r og. for

PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, 'DUNKME, ANTWERP & NOTTERDAM,

CIE DES MESSAGERIES MARITIMES

A LIMITED COMPANY INCORPORATED IN FILANCE Queen's Building

Tel. 28851 (Three Lines)

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "GRETE MAERSK"

M.S. "OLGA MAERSK”

M.S. "LAURA MAERSK”

M.S. "LAURA MAERSK"

M.S. "HULDA MAERSK"

M.S. TREIN MAERSK"

ARRIVALS FROM U.S.A.

||

Big Profits

Vancouver, July 19. The Powell River Com pany, one of Canada's bir- gest newsprint producers, reported on Thursday it made $1,245,914 net prot

the six months ended June 30, a gain of about $200,000 over the first alx

of 1950. months

The President of the Company. Mr Harold S. Foley, ld the high profit was due to increased re- from pulp sales. venbeg Iumber operations and froin subsidiary, companies. -Unified Press,

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning was Noon valued at $324,239.20. prices and the morning's trans-

actions:-

SHARES DUYERS SELLERS SALES

1500

BANKS

HK Banka. 1480

50

East Asia

103

100 103

INSURANCES

Canton

245

745

40 @ 750

730

139

01

Union

FIK Firs

DOCKS, ETC.

K. Whart

St. Britain's

Balance Of Payments

The first important function attended by Mr Hugh Gaitskell after he became Chancellor of the Exchequer was the dinner given by the Lord Mayor of London ‍to the city's bankers and mer- chants.

British Policy On Japan

BUILDING

Page

R. I. L.

ROYAL

Dato

In Port 22nd July

UP OF July

Skip

INTEROCEAN LINES

ARHIVALS

"RUVA"

"TWAKOri

VAN BRUTAZ“ "BOIBARVAIN"

THE AUE

5th Aug.

811 Aug. 8th Aug. AUS.

TIIBADANE”

TARMAN"

3rd Aug. 1rd Aur. 5th Aus.

ECONOMY Manchester, July 19. Britain intends to help ard On that occasion Mr Gaitskell sounded the Japan regain her position first warning on the increase of our exports in as a sovereign nation and the coming months necessary to maintain the build up her economic stabi-th July

lity, Sir Hartley Shawcross, 1950 value of imports. He assessed that increase President of the Board of to be £150,000,000 to £200,000,000, but rather con-Trade, said today.

Th AUR...

Ah, Aus on tac fidently dismissed the danger then looming ahead, Here for conferences

the cotton and 21st ATE created by the rising prices as a result of the problems of

Mayon textile industry, Sir 25th Aur. Korean war.

Hartley told a news conference: "We had the alternative of treating Japan os a defeated enemy, imposing severe retalla- lons on the possibility of her making a recovery,

Only three months later the Chancellor amended his estimate to £300,000,000; later, in a matter of a few days, he raised it to £400,000,000. Today, his estimate would be well over the £800,000,000.

י

ต

DS

would de-

the other hand, there was the policy of enabling her recover her position пя 4 Small wonder then that he spend on European travel:

sovereign nation and building should be gloomy when he an-this year continues the credits in nounced the economic and the London which, the travel dis- up her economic stability.

"We have felt in common financial position of the country, bursements will pile up will be

United States that and the repercussions on then added factor in developing with the sterling

the dollar and

areas post-war trade with the Western while the former course might may!

the Liverpool "Journal of European countries, This month lead to an alignment between com- the Japanese and the Commu- may Indeed, SC3 the

"of world-wide nists, the latter course We been living too well mencement

promote the at home, spending acarly £200,- purt and confidence in Inter- he likely to 000,000 more in the first half of national trade, if only we pro-velopinent of the new Japan on a partner this year than in last, said Mr duce more" to enable us to reap democratic lines as

with the Western powers.' the benefit of such spurt, Galtskell.

No doubt most

Sir Hartley sald Britain had of that in- 40 000 2 39

obtained certain important con- crease has been caused by en- 13 1311 300 @ 13.20hanced

prices

lessened

Our need for dollore, is as sessions in the Japanese peace volume of purchases.

Great as over; we are constantly treaty which will provide some the Lancashire being enjoined on both sides of textile industry from Japanese

of protection for bedge ceivably be

urgains!

the Atlantic to intensify our Inflation or a saving against de- preciation the

He said the Government is purchasingve for that currency, whether competition.

it be U

U.S. or Canadian. A quez power of the 2, or both.

in Korea could well lead to a watching to prevent any unfair of consumer prices in Japanese trading methods. - reduction of North America, leading to Associated Press.

N. P. Whart 1.30 Wheelock..

LAND, ETC.

HK Hotel 1 Land UTILITIES

..

Tram **

རྒྱ ུ་༢ ལ་ ༔

July 31 Aug. 14

Aug, 28

Peak Train

Peak Tram

(0)

(N)

Star Ferry

75

74

Aug, 8

300

Aug. 21.

C. Light (0) 4.05 1.10 2000

Sept. 4

73 7.00 500 Gr 7.10 1000+

200 Er

C. Light (N) 4,10 4.30

For Freight and Further Particulars please apply to:---

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 36066-9.

Sulphur Plentiful

C. Light (B), 6.70

201

Electric......... Telephone

INDUSTRIALS

Cement

STORES, ETC.

Debry

0.00 000 $ 3.80 1:00 9.70

17 5007834 11000 11

500 11.40

.. 2112

31.30

1334 14.10 1000

14.30

2300

14

1814 1915

400

2315

+

Watson LCrawford COTTONS

Ewa X✡ ........

Region, The Rubber

In Arab Geologist Claims

London, July 19.

Markets

London, July 19.

futures Prices of rubber closed today as follows-

for

And such purchases can con-

LK

GRADUAL FALL

Mr Galleken himself has not hesitated to tell of the gradual fall in the value of the £, yet he, no more than his predeces

NEED FOR DOLLARS

DOLLAR TRANSFER · reduction of impart prices pald

Tokyo, July 20. by the US.A. and Canada for

The Japanese Government the goods from the sterling arca. The complexity of that possi-will gain control of all United in Whitehall States dollar funds now being

operated by

or, does not seem to be able to bility is puzzaghiarion

**

no less than in

the Occupation

the close of

offer a suggestion which might 'cad to an arrest of that de- The problem is one which Authority at preciation accompanied kry arrest

of rising prices. confroms ofher countries, Ger- business on August 15, General many may be mentioned, also Ridgway' announced on Friday once orders must be met," said her drive to acquire dollar cu:- (Tokyo time), Mr Galtske, "exports must be reacy, German business men are The transfor will provide

with a te We cannot do both cracking the tough American Japan acreased."

to Hollar may market through

super- funds amassed and will permit the German- the restoration of norma:

Promotien commercial

relationships be-

n volume, weight;

of prices which, alter

We

a new

achieve the latter in the matter sales organisade, leading in-ween Japan' and foreign banks

all, do American

maller more Ihan volume or Company, set up

veight for the time being.

do 10

dustrial and conmarelal /

exports rentis wili bave Ridgway's announcement quid.

Date

22nd July

"TJITHALENORA” "DOINAEVAIN"

"RUTS"

"TJIWANOM

“VAN KEUTSZ" "BORRVAIN" "TJISADANE" "TASMAN"

Japan

Froni

Miquastar & Jaya Pott JAJAN

A. Awaniem. B. Atrica,

Baigon & Manila

singapore,

1. Amerina, H. Atrira, Singaporr &

Manila

Japa

Miramar, Java Porta & Singapore Japan

SAILINGS

"TÄITJALENGKA"

“DOISSEVAIN”

Το

Bianlia, Singapoco, 9, Africa

A.. America

Bingapore, Java Parta & Marstiar Atacapore, Senang & fleiawan Dell Yokohama & Japan. Port Yokohama & Japan Porit

Semarang, T. Priok A Belawan

Deif

'stugapore, "Java" Porta-Aa Marksser MiniTa Bingapore, 8. Afri & A.

America

Agents: HOLLAND EAST ASIA LINE

Skip

"AAGTERENK" 15 Augilat "AAGTEKKEK"

2nd week Aut. "ALMKERK" Mid. Repl. "ALMKERK**

26th July WAAGTEKKNK" 19th August "AAGTEKKAK"

2nd week Avg. "ALMERIK" Mid. Sept. "ALMKERK“. ·

ARRIVÁLS

From

Europe & singapore

Europe & Albgapore, Гарал

SAILINGS

Jaban via Manila Manila, Singapore & Europe Japan via Manila

Stanlia, Bingapore & Europe

BEKINGS BUILDINGS: FEFEPHONES: 28015: TO280117AM

BARTEHEMUSKENGESTALES DESNABBA; HAAD LOSERING AGE

negotiations for private A few days later Mr Alfred with the support of the

dollar Robens,

Creditt. Minister of

West Labour, rican occupation amelals.

Document making clear the echoed Mr Gallekell, in an op- German exports to America

hayo legality of the transfer vho are able to during January-May

this peal to workers

of

signed by the to seek priority jobs in year were iwies the 1850 com already been rearmament even it son

some dis-parable volume. If this rate of Occupation Authority and the Japanese Government, General to December, ance from their homes. By the time

drive the rearmament

the total teaches its full force, labour reached $200,000,000 this year.

The action is in line with General Ridgway's policy to engaged in defence production

Behind this ph:

phenomenal spurt will have

be increased by les the effective work -of

financial refum this

Operational to the Japanese more than 500,000 workers. If trade organisation. It has spread authority

bay well be that many of these

to exercise sue sa nominal workers wit be withdrawn frost export-mindedness among Ger- Government as soon as it is

ron man business men and advised

prepared -Baltad Press. export production, thus adding on marke's, packaging, dis-

dis- ceponsibility. BINGAPORE MARKET

Big funds now operated by to the deficit in our balane: of "bution and other key ques- Singapore, July 19.ayments which, in turn, will tons, Such is the view expressed the Occupation will not be re- Prices of rubber futures breed a lack of confidence again by Mr Paul Nevis, chief of turned Immediately to Japan. closed here today as follows:- In the £

in cents per 1b. August

Shortage of raw materials?. Nonsense, says Number 1 rubber, 4514-49 34-year-old scientist and geologist Herbert Cross. It's just a matter of knowing where to look.

Japanese Agency In

The

America

Washington, July 10.

Back at his home in Lytham. Lancs. Mr Cross, Bft, and a bit, tossed a piece of rock sulphur` in his hand.

And he said: "It's high-grade pre I can get thousands of tons of it from a mine near Muscat in Arabia, And lead, too.

"The

country Is rich minerals, King Solomon's mince

know."

country, you

Ho made the

Jon to prove

ment

September

October/December January, March

April/June

Number 1 rubber, in

cents per lb.

433-4 35-381

35-3512

$814-49

September October

134/5-133

in

August.

Number

August

6,000-mile

Number 3 rubber, rubber.

Number 4 rubber,

135-134

120-130

Spot rubber,

150-131

ove that Govern- spokesmen are wrong State Department on about at least one of the raw nounced today that the United materials which they say are

so scare these days.

States has approved plan for Japan to establish an "oversens agency" here to promote trade between the two countries.

The agency will be staffed with Trade, Financa and Foreign Office representatives and will operate under

the su

supervision of the Japanese Foreign Office. It

Japanese will not have diplomatie status, the announcement said.

tween

In the hold of the freighter Kohistan at Bristol is further proof-five-ton sample sulphur brought back by Mr Cross.

of

They

JUMP AT CHANCE He went on:- "Politicians' inik about Bhortage of raw materials makes But it is no use Full diplomatic relations be- mo mad.

the two countries are not sending bulk buyers, expected until the signing and wouldn't know the difference ratineation of the Japanese between a diamond in the rough This agency Is and a a pebble," peace treaty.

The Board

ard of Trade jumped looked upon by experts, how-

of the at the chance of investigating My mbussy.

Cross's claim for sulphur is Japan already has a mission wanted for almost every industry, here, but its work le largely for fertilisers, textiles, dyes. confined to working on alloca- rayon, steel, point, plastics, tion and procurement of raw paper materials,

15

the forerunner

August

unbaled

Black crepe

No. 1 pale erepe

00-1000 155-165 United Press.

LONDON TIN MARKET

tin, buyers aliers

£45 860

10

EMPIRE ENDEAVOUR

be modernised and extended fairs in the U.S. A. are

further

in the arcns

В

USEFUL EXAMPLE

no- This move has been deferred

Government-

Weekly Bank Statements

14.545,000 309.801,000

PATTISON ORIENT LINE

LIMITED

S.S. “LAURE PATTISON”

DUE FROM:

Kobe In Port

LOADING:

SAILING FOR:

July 18th & 19th

Pusan & Japan

July 22nd

12-14 Queen's Road C.

Chinese Agents:

Tel: 25346.

OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W. Tels: 25646, 20127 r 31119

U.S. Control Measure

Near

Total Defeat

Washington, July, 19.

Price Chief Michael V. DiSalle angrily charged today that the House had voted to destroy the entire price control system.

The Defence Mobiliser, Charles E. Wilson, assert- ed that disabling of the Act will increase the danger of World War III.

They fired their blasts as the to avoid a third world war with Republican-Southern Democra- all the frightful toll of blood tic coalition continued to defeat and destruction such the Administration in section would take."United Press. etter section of the,new con

356,088.000 Government securities

Publie deposite ...... Private deposit

Other scurities

32.021,000 33.040.000 Mi

-United Press. BANK OF FRANCE

Paris, July 10.

necessary what

dollars: WES re-

Mr DiSalle's chief targot'wis House-approved amendment

amend--

Sterling Balances Criticism

*

War

export

promotion for the Econo- mic Co-operation Ad

Administration

tion pending conclusion of negotia- In Frankfurt. This organisation tions between the United King- July 1 saw the commence collects S. trade facts for dem llaison mission here and

and export- the Japoneze German producers ment of the Colombo Plan, es-

bulletin United Press. information ora. Its a Cominouwealth 2ntially endeavour to bring stabliity by is distributed bi-weekly to 7,600 1225-123% confidence to South and South firms. Advertisements in U.S.

America East Asia.

publications Of the countries principally firms to sub-contract their zonoerned, India and Pakistan Cers to German companies and attractive catalogues are dis- ave large Irrigation projecttributed to American firms te for famine avoidance to b financed. Road and railways ing them what Germany has to Exhibitions and trade

London, July 10. and river communications have offer.

carefully

The Bank of England state- watched, and German dems are ment

ending east. Their kept advised as to where they July 18 reads as follows:

for the week zomplotion will take time, but the big factors are the increase can be: display and, sell their Noter in circulation & 1,207873.000 trol bill. In

purchasing power of the products. rations as a whole to implement London, July 19. the wealth which the tow have

which he - said guarantees it seems that Mr Geftshellaceipts The tin market was quiet this

acquired from the sale of some

excess profits to every manufac- morning. Turnover was 70 tons.f nature's products during the could usefully allow our busi-Bank ratio

turer and processor, ** Prices closed at the end of the past year or so, and the es-ness men to do likewise by pro-

session moming

confidence | viding the cficial

as tablishment of

Ho belaboured the duplicate which has not been there since to follows:-

The Bank of France statementment In a letter to chairman the commencement of the civil cently Spot tin, buyers

set up in Toronto, for the week ending July 12 Brent Spence of the House Spot tin, milers

13-000 war in China and the raid by an Anglo-Canadian trade or-

reads as follows:-

Banking Committee who 13 then Business done at

the North on the South of

would

Total gold holdings Frs, 100.440.078.920 piloting the controls bill through ganisation.

the Total of other cur be able to shut down Korea,

Meanwhile, a cessation of the costly Civil Service trade consul Korean war would open all offoes in the U.S. A. and apply poris of China to international the dollars so saved for an ad- Advance to curren unrestricted trade; it would en-vertising campaign. In doing so fund

beaccepling ablo a broader Colombo

merely be the to Pepper Market or Ualled Nations Plan

spplied to the 500 million people Wiljon, when he was President Abroad in China, the

mase in Japan of the Board of Trade, at long Notes in circulation with Indonesia, possibly, added. last reached that to "erask" Current accounts &

be Trade is there for the taking this tough market should 'the but unfortunately, as yet, there prime responsibility of privat is to be no slackening of the enterprise which can secure the New York, July 19,

when the New York Sugar profit computed on the basis of in the House of Commons that

enough to return them that Boyd Carpenter, Coaservative,. or planned In several other island in the Persian Gulf. Ex Spot black pepper was quoted defence, the rearmament effort maximum

higher production costs than this moriey should be stopped countries and some other U.S. perts had said the mines there again at $1.68 a pound with the even if the Korea ellustion is wares we have to offer.

Inescapable edoclusion is But he market extremely quiet. Higher resolved.

The

they actually pay, "

ntli Egypt had made repart cities, including New York. San had been worked out.

that

Germany is reducing · her

flon and given assurances about Francisco, Seattle, Los Angeles took eight test drills and found cables from Indin along with

PAYMENTS PLAN

New York, July 19:

LAST-DITCH MOVE British shipping. mineral each and Honolulu, according to the the

news of Russian buying, falled

This month has also wren, the dollar defiell; we did that from

World sugar futures closed oments-United Press.

Last work from Mr. Cross to simulate trade here, "You can't find raw material

Mr DISalle sald the provisions Mr Edwards said that the was commencement of the second mid-September, 1949, and can July/August shipment

con-would make food price control covernment did not think "It what others have been doing. with sales tolalling 215- from a desk" in Whitehall. I gubled at $1.05 and August/year of the European Payments therefore view with equanimity today unchanged to 13 higher.

ineffective and without effec- right to Interfere with an are Government really Wants September at $1.84 pound. Union. The first year was a U.S. PLANT FOR sulphur at the lowest price

have to

look, for more than

so recently con- expected to ar period of trial, of strains and is to the future, however, we tract

Contract No. 0 closed 2 to 3tive price control, wage controls rangement Black Proper will and i!.London Express rive here very shortly, was quotices. First one country, in ever in the dollar consumer higher, with sales totalling 102 cannot be maintained cluded betwene Egypt and Bri

His letter was a marke, there will have to be a contracts. COURTAULD'S

izst-ditch tain because of a dispute when Service.

ed at $1.07 a pound, op, an ex- another, exceeded their trading

quotes: they exceeded dock baria-Unlied Pross.

sterling kredits and could no greater volume of goods with longer continue to buy from us, loss of swollen prices. Germany Contract No.94 (world)

other and Japan end, to a lesser September

January. (1900) Utenporary alch, and

extent, Brance, seem art on out- ji Merch engasures to meng Exchange Rates med to demaisy bidding us for Anal market.

Seld an officist: "We should

ISLAND FIND

In addition to trado matters, like to see Mr Cross. We knew the new expanded agency will of deposits in Arabia, but nol handle afnirs concerning particularly at Muscat,"

and civil status of nationality

In the Kohistan, as well, is Japanese living in this country.

related 2,000 tons of oxide of iron. Comparable or

Mr Cross found it on a rocky Japanese ngeneles are operating

Countould's, British

London, July 19.

rayon

the

time.

manufacturers, announced today Seeds And Oils

would build a $10,000,000

ory at Huntsville,

in the United States.

Albernia,

Permission to

build the plant

has been granted by the Na

Bew York July 10,

Three-month Three-month Business done at Seulement

235

United Prest

Quiet

the

reacles Bight balance

abroad

stabilisation

bo Pinahe on Watch Me Harold 7 Bills discounted in

their

and atollend, but all through Ev

Prices in the recde, and olla Ihmines was done in the local litro. market here closed today un- umcial exchange

mommand the following UR ES SA tional Prockathon Adminiale changed with the, tonka Washington and the ceptions:

following ex-

plan will supply myon yarTIE Linaped Oll, in lank cars, New: - Indonesia sulmon (me

and "etuple to the American York,per. marketinUnitekt Predo,

Unked pore (traits)

+

France and

deposits

3,480.470.058

the House.

104,058,270.504

London, July 18. Mr Winston Churchill and The amendment, would ruise

other Conservativa criticised price ceilings to

a level

the Government today, for re- manufacturers 150.300,000.000 assuring

and lensing sterling balances to processors a profit equal ig 85 | Egypt at a time, when Egypt maintaining, an inegal 418,371,356,778 per cent of the best three years was

out of a four-year period blockade of the Suez Canal.. 1040-49.

Mr John Edwards, 'Economic Processors of farm products Secretary of the Treasury, had would be allowed to charge rejected a proposai by Mr John

1.711,084 385,755 154,485.124.122 -Unlied Press.

Futures

Prices closed as follows:→→→→

000 traded

6.90 nominal

May

Reptember

redhor lives, New York, July 19. septe

be guas came the ow

other artuber bi Copra was offered again":"at ngakast 05376 Lions in Z.P.UU. We tried to #160 per "hort tom. The asking 1950 | 1939-bysthe unorthodox-step of price of cocoanut oil war, 113 doughing the payment of foreign contaža pound. There 121% CUFTOECIe, aliowed oltiaras to na takers--United Premad

warp.

323-5.3 traded 853 nominal

777 0,30 nominat-;

5.78 Did" 44) nominat 0.40 nomina nominis

move to persuade the House to action had been taken in other reverse soli.

Mr Wison spoke before any AFL convention. Eleading for Mr Churchill-mold that there was considerable divialon at stronger economic controls 10

curb inflation and referring to uplion as to whether Britain who want to weaken the should go on paying these those who controls bill, Mr Wilson said,ypt mattilaining on üllegal large sums to Egypt as long me myself would shudder to blockade of the Suer Canal, accept the horriblo esponsibil

તથા Aakk

ty for insisting on disabling the "He added. Wat it might vert Defence Production Act and well be made the feat of thereby lessening"; "our chances "debate !!-Beuter El