1951-07-24 — Page 9

R.I.L

ROYAL

INTEROCEAN

TJWANG"

LINES

From

Marassar & Java Porte Japan

ARRIVALS

K

Dale

Ship

In fori

30th July

"VAN HEUT#2"

3rd Aug.

"BOISSEVAIN"

5th Aur.

"TJISADANE"

BIA AVE.

"TARMAN"

"TJITJALENGKA“

"BOJASEVAIN"

14th Aug. 23rd. Aug.

3rd Aug

3rd Ave.

ן

ANE.

7th

AUK.

11th Aug.

23rd Aug.

25th Aut.

Dala

#TJIWANGI

"VAN HEUTSZ"

"NOISSEVAIN "TJIBADANE"

"TASMAN"

8. America, A..Africa,

Salon & Starlin

Bingapore.

9. America. 8. Aftien, Hingapore Be

Manila

Japan

Maranar, Java Pork & Singapore Japan

SAILINGS

PTJYTJALENGKA”

"50188EVAIN"

B. America

Τα

Singapore, Java Ports & MuenzaNT Singapore, Penang & Belawan D31 Yokohamad Japan Porik Yakuhama & Japan Pors Semarang, T. Prink

Dell

#

Belawan

Singapore, Java Ports & Macassar Manila, Kingapore, 8. Africa & H

Aineilea

Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Skip

From

Ta Port

"AAGTEKERK"

15th August PAAGTEKERK"

2nd week Aug. "ALMRENK" "ALAKERK"

Mid, Sept.

Circope & Aingapore Эдуар

Europe & Ringapore Japan

26th July

17th August

"AAGTEKERK" MAAGTEKENK” 2nd week Aug. "ALAIKENK"

Mid, Sept. "ALMKERK"

SAILINGS

Japan via Manila

To

Manila, Slogapore & Europe Japan vla Manka

Atánila, Singapore & Europe

KINGSEBUNDISGRETELEPHONESËRI GEOZIROMA

In

Rough Spots

U.S. Industry: Buyers Reluctant

New York, July 23.

many

Factory wheels are humming again in most of the nation's industries. But there are rough spots due to floods, strikes, slow.consumer buying and delayed defence purchasing.

The steel industry, basie to most others, continues its phenomenal output at 101.9 per cent of rated capacity. Freight carloadings are higher, showing that goods are going to market.

Electric

power

is flowing

along the transmission lines utj

a high puce to keep the fuc

fary wheels turning,

Crude oil production is

in

the upper brackets, engineer-

ing awards ure up.

Mainy a large manufacturer | is planning to expand his foci- ities with one hand while he turns out goods at speeds he seldom attained in other years

-with-the-other.

But there are, soft spits In the economy, notably in the textile Industry.

OIL SHARES RECOVER

London, July 23.

Oil stocks recovered_on

THE CHINA MAIL, TUESDAY, JULY 24, 1951,

Wool Sales A India Relying Upon

Record

Bydney, July 23, Australian wond sold for L030,330,574 in the 1950- 1 season ended June 30, the National Council of Wool Selling Brokers reported today,

It was more than twice the previous record high the of £280,028,019 In 1949-50 season.~~Associated

Rally In NY Cotton Price

New York, July 23.

futures at the close. The nows

Short covering railled cotton

continuell mainly against the market, highlighting favourable crop accounts along with slow Gemand for textiles, the spot market dullness, the uncertain ties of the Korean picture and The Washington alluation on the priec

control bill, Buyers practised considerable caution, Prices

a slow eased untler dribble of hedge selling, some originating in the South Texas rections, along with liquidation by discouraged speculative interests.

Traders' attention was turn- ing more toward the

Govern- ment's first trop estimate of the senson, due around August 8, und the mid-July party price report to be issued after the close on Friday. The parity report will give a close indica- tion of the Government loan rate for new crop. If the parity for July holds unchanged at Joan 33.98 cents, the average rate for 15/16 Inch middling would be 31.03 cents a pound.

Private estimates on the size of the new crop are expected to appear slowly.

In the export pleture, China will receive offerings on July 25 for an expected purchase of 3,500 bales of raw cotton with prices to be based on October 1964

futures contract.

Help From Japan In

Industrialisation

HOPING TO ATTRACT CAPITAL

Tokyo, July 23. India is leaning heavily upon Japanese know-how and machinery— and hoping to attract Japanese capital once a peace treaty is signed-in

carrying out its rapid industrialisation.

Reliable sources told the United Press that more than twenty Japanese technicians are

already at work in India, drawing plans, giving

advice and supervising construction and tion of new plants.

opera-

Almost half of them are being paid for their services by the Indian Government and the others have been re- tained by private industries.

HONGKONG

SHARE MARKET

Some of the Japanese tech- nicians are assisting in the de- Industry velopment of heavy And others are

concentrating of a "cot- on an expansion tage Industry of small home plants.

American Firms Accused

Washington, July 23. Chairman Herbert O'Conor, Maryland De- mocrat, said today a Senato Sub-Committee on Export The country is now seeking Controls has received re- Ameri- Japanese specialist to aid it ports that certain in setting up and putting into

can insurance companies are operation

ter- a tremendous

trade with Red tiller plant which, when com-alding in China. pleted, will be the largest

(From Our Correspondent) | Asia

Business done on the Stock "We have found the offee these insurance firms, in co-

morning Exchange this

Com- operation was of the Supreme Allied_

inander

the and

Japanese Government most

helpful In Aluding and engaging these echnicians," the source salt!.

valued at $277,470. Noon prices and the morning's transactions:

HARES DUYERS SELLERS SALES

50 1400 31450

PANKS

HK Bank

East Ardo INSURANCES

Canton Union Underwriters HK Fire

DOCKS. ETC.

.. 1400 1500

103

"And we have high hopes of Increasing the number Japanese advisers as soon as a

ence treaty is signed."-

JAP MACHINERY

"We are told," he said, "that

with British comi- tantes, are helping to make possible u continuation of the now of materials lo our enemies by jointly underwriting mari- time and war risk insurance on

the vessels engaging in trade

with the Communists.”

Hr Sald information abou the "reinsurance pool" to pro- vido coverage for foreign ag ships carrying! cargoes to Red

MESSAGERIES

MARITIMES

MOM

"GIENOBLE"

ARRIVALS

from Europe

"LA MARSEILLAISE" from Marseilles

SAILINGS

PASSENGER/FREIGHT SERVICE

"LA MARSEILLAISE”

.... to Japan "A MARSEILLAISE".... to Marsellies

"AURAY”

"OVISTREHAM" "MEKONG"

"MEINAM"

FREIGHT SERVICE

27th July 8th Aug.

9th Aug. 32nd Aug.

N. Africa & Europe 24th July N. Africa & Europe 17th Aug, N. Africa & Europe 30th Anɣ.

......N. Afties & Europe 25th Sept. for

PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIEÉ, CASABLANOA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.

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

Tel. 28651 (Three Lines)

MAERSK

LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, VİL

SAN FRANCISCO. LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "GRETE MAERSK”

July 31

M.S.

M.S.

"OLGA MAERSK” "LAURA MAERSK”

Aug. 14

Aug. 28

ARRIVALS FROM U.S.A.

M.S.

"LAURA MAERSK”

Aug. 3

M.S.

"HULDA MAERSK”

Aug. 21

MS. "TREIN MAERSK”

Sept. 4

Most of the machinery goingChina was obtained recently by For Freight and Further Particulars please apply to:- into India's now factories is or Sub-Committee investigator

K. Wint N. PL. Wharf 4.00 500 G 4.00 Supanoce manufpotura. Henvy, the Far East, Provident S'hai Dock

LAND, ETC.

ૐ હૈ ક

Under such

סנאן

arrange-

rufustrial equipment constitutes the bulk D India's exports nents, Mr O'Conor sald, ench 4.80 from Japan. It has taken the participating in earmarks

315

16

.74716 745 100

3.40

1.35

700

135

04

1013

111

2.40

HK Hotel (IK Lond Humphreys UTILITIES

4.75

G 1600

2012

11

Tram

13.25 10 1200 13.55

P. Tram (0) 15%

Star Ferry

75

34.71-34.73

C. Light (0) 6.00

34.00

31.32

..32.42

C. Light (B) 0.00 Electric...

2815 28% 1000

32.02 nomina)

United Press.

88 20 200 201

:

The market opened off 1 to 9 points, dipped 17 to 19 points! lower, then steadied Anally to close 5 lower to 5 points higher. Prices closed today as follows:--

30.90 nominal Spot

... 34.00 34.2

pctober

December March (152)

May

July

October

December

NEW ORLEANS MARKET

Closing mte. July 23.

Spot

October

December

March (1033)

May

July

· October December

place of processed consumer

oods as the number one item purt of each polley Issued by portion of its assets to reinsure of Indian import.

"We find Japanese machinery suite satisfactory and,

C. Light (N 421 440 2000 ( 430 | important, within

runge."

Telephone 114 12 INDUSTRIALS

Cement. 10.00 11, 209 m, 10.90 | have

textiles.

"AI-

means

con

a member company in the

In effect, he said, "this mo most that

the funds of American our price insurance companies are helping he continued.

to make it possible to keep this though our country no longer legal trade going by paying Luys consumer goods, particu- art of any loss sustained when Tarty

from the Part Japanese Japan can expect to ship insured by any member firm is sunk or captured while Д Inarket for its

attempting

turnish 500 1855 machinery in India for many trabont

to to aur Communist years to come:"

The Indian Government, the Chemies."

Mr O'Conor suid he had been Source disclosed, also

Informed that "the American hopes of attracting Japanese capital for new industries once companies concerned have been the peace treaty is concluded. careful not to write the policies But he added that directly". was "negligible detall if they are participating in the reinsur- "Of course, we don't expectance pool and in the profits de- too much at first because the

rived from that poul." Japanese arc In a similar Earlier Mr O'Conor had said position of desiring outside in-that in

recent wecks "thousands vestment.

37.25

Rope

34.72

34.02

34.70

13% 1415 STORES, ETC.

Dairy..... 11 141, Watson

2000 521

34.60 bid

34.23 btd

32.70 blo

32.50 bid

United Presy,

TEXTILE MARKET

New York, July 23. The cotton textile market was slow today.

There were

scattered sales

Crawford a

The Rubber

Markets

of print cloths and broadcloths, the

London, July 23. Prices of rubber futures closed with prices generally displaying today as follows--

heavy tone,

Number 1 rubber,

in wats per 18. August

London Stock Exchange today un the prospects of a compro- mise in the Iranion oll dispute. Domestic Issues declined, Some of the Northern and however. This was attributed Southern mills have extended to nervousness. among traders vacations or discontinued over the possibility that Chan- shifts us they cut down pro- cellor of the Exchequer Hugh duellon to meet the demand.

Galtskell would suggest

Industry spokesmen explain-dividend limitations.

ed that an ability to produce

Copper and diamond shares Pore then they ever believed were frm. Japanese bonds possible is

Alling

and store shelves.

warehouses improved.

FLOOD DAMAGE Reluctant buying by the con- sumer and delays in long cx- pected defence

orders, they

added, have contributed to high inventories.

In Industrial sections of the

Mid-West, flood waters caused damage measured in hundreds

of millions of dollars.

A month-old airiks at

the

of:

Aluminium Company America's Cleveland plant beginning to worry plane en- gine manufacturers.

The Financial Times' daily Index was 132.7.

Japanese bonds

"A" (49, of 1800).. "B" (4s, of 1010).

(5s. of 1907)

5514

044

7614 74

"D" (58. of 1934) "E" (54s, of 1934) DO Conacis 654. Associated press and United Press.

WALL STREET UP

New York, July 23. is The stock market moved for- ward today with moderate vigour. Oils and rails hended the advance

which favoured

Operations at Hudson Motor-

Car Company In Delrolt con- virtually every major section of tinue to be halted daily after the market.

n few hours' work. This situn-)

The wool goods market was low. Mills showed no inclina- September tion to make offerings because October/December of lack of buyer intcrest at the January/March

April/June moment.

Rayon Koods were dull.- Associated Press.

Courtaulds'

New Plant

London, July 23. Details of a plan by Cour- taulds, Limited, to build a blg! rayon plant in America will be inade public by the Chairman, Sir John Hanbury-Williams, at the annual stockholders' meeting on Wednesday.

A spokesman would neither confirm nor deny Press reports

that Huntsville, Alabama, will

be

4036-50'; 43114

4445-45

2014-40

2014.37

334 nominal

-United Prem.

SINGAPORE MARKET

Singapore, Jul 23. Prices of rubber futur: closed today as follows:-

Number 1 rubber, par Ib.

August

September

October

14 -14414 137-138

Number 2 rubber, August 13732-13815 Number 3 rubber, August 1301-13115 Number 4 rubber, August 123-124 181-152 Spat rubber, unbaked .. Black crepe No. 1 pale crepe

100-102

163-108

United Prust.

Report On Jap

Stock Market

Tokyo, July 23.

It was revealed today that

be the site of the new factory, trading on the Tokyo Stock Ex- |

which will cost $10,000,000 and change dropped to its loweat have an initial capacity of 50,- level of the year during the week 000,000 pounds of viscose rayon of July 9, when the Communist staple a

year,

and United Nations negotiators During World War II Cour-began their preliminary cease- trulds was forced by the British are talks. Government to sell all but five per cent of its 06 per cent holding in American Viscose to raise dol- inrs for Britain's defence effort. The sale brought $54,500,000,- Associated Press,

CAPITAL TOO

has

uf tons of highly strategie mate- very rials" have been delivered to indus- Communist China by ships fly- ing the British and Panamanian flugs-Associated Press.

"But India is relying muchon-Japanese -help-to eflect the

complete trinisation it plans.

"We ure getting Japanese inachinery and know-how and

we hope to attract Japanese New York Sugar

The

Japanese aid is welcome in India," he continued. Indian people have never felt the intense antipathy for the | Japanese

many" Asiatic countries

have." United Press,

that

Futures

Now York, July 23. World sugar futures closed today 6 to 15 points lower, with sales totalling 72 contracts.

Contract No. 6 closed 3 to 4

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 36066-9.

BENN LINE

2317 692

FAST SERVICE TO UNITED KINGDOM AND CONTINENT -

BY

S.S. "BENVORLICH"

LOADING HONGKONG 30th JULY

FOR

LONDON, ANTWERP, ROTTERDAM AND HAMBURG

VIA

MANILA, CEBU, SANDAKAN, STRAITS, ADEN

PORT SAID.

AND

points lower, with sales totalling W.R. LOXLEY & CO., (CHINA) LTD.

125 contracts.

March

Contract No & (world)

6.09 nominal

LONDON

MARKET

TIN

September

11.08 -4.60

January (1059)

3.37 -0.30

May

3.37 nominai

July

September Apni

5.30

4.75

Contract No.

September

5.70

January (1052)

3.77 nominol

Marchi

May

137

July

$.42

September Spat

$40 anminal

ensier

London, July 23. Prices of din turned this morning. Thurnover was 105 tons, including 10 tong for cash,

Prices closed today at the and of the omelai morning session as follows:-..

Business done at

8321,

853

$10

Spot tin, buyers Leading issues added a littla

Spot tin, sellers tion has prevalled for six more than two dollars o share

Three-months tin. weeks. The dispute involves at the bist.

There WAN not the manpower on various jobs.

Thresinonths the sellers 518 mucli

01935-818 advance. Bust- There have been retail cuts vigour in the

Bustos done al Settlement in some shirt prices. Battery ness amounted to an estimated

New York, July 23. prices and carpets hove gone 1,200,000 shares,

Copper, lead and zinc futures Along with oils and rails, the down a bit.

The Federal Reserve Board advance Was bolstered by in- reports department store sales dividual issues from chemicals, 10 per cent under a year ago utilities, motors and aircrafts.

The market vinrted with an In dollar volume, and Dụn and Bradstreet noto a slight decline upward trend and extended it- in consumer spending, attribu- self steadily into the final hour.

ting it in part to abnormally

o. President Truman's mid-year

warm weather through much economic

of the Press.

report gave a firm

country.Associated base for the advance but it did

noi louch DIT any heavy buy- immediately anywhere in Ing the list.

Benguet Mining was the most

·Mexico Reduces active stock, advancing 1⁄4 to

Export Taxes

Mexico City, July 28.

112 on 04,000 shares.

The curb

market advanced. were Cuban Atlantic

Imperial Creole Petroleum.

Mexico reduced export taxes - Dow Jones Averages:- today on some of her most 20 Industrials important products, including 15 Rojle

shrimp, fish,

beans, cocon vanilla, tobacco, citrus fruits,

cotton Jewellery.

toxtiles and silver

Soon, which ranged from Producers

and

0.00

-United Presa.

PRICE CEILINGS

LIFTED

Wadington, July 23,

Higher prices on some cloch-

by closed quiet, no sales-Also-ing and a limited number of

other manufactured goods were permitted torlay by the Office of Price Statlisation.

The operations report General Ridgway's Occupation clated Press, Headquarters said today the shares transactions for that week averaged 1,500,000 shores daily, the lowest of the year. It said, Ometals rald today that the of un OPS order of June 30 The market was irregular with United States Government had freezlag most price ceilings. --

U.S. POSITION

Washington, July 23.

It was the first break-through

Grain Prices average price Buctuations near mado no docielon, as to when Arsociated Press.

Again

Down

Chicago, July 23. Wheat futures closed 34 to 24 lower and soybeans were % to 1% Jower, Prices of grain futures closed as follows~-~~-

Wheat-price per bushel Spot

Bagtember

Elecernber

Spot

Oil,

205,01 77.71

March (1952)

-Associated Press.

May

Cora

September

U.S. TREASURY

December

ach (7052)

May

US$314,101,704 2.00

July

Data July

September

september.

-Asociated Prem,

No reason was given for the

to 83 per cent. However,

Washington, July 23. Treasury position on July 19: of many Mexican

the Total Debt products have been asking reductions on the ground that A Year Ago:

Gold Abe A Year Ago

their costs are going up dun to Ingation. Associated, Press.

337,182,904476.00

LATOT,194,431

24207,000,163

2.3274-16 9.37-0301% 2.30%-7

2.40

1.77!

1.7276-36

(3,03%) 1.0012 1.67% bid

1,07%

1.70%

the levels of the previous week." The reaction was closely parallel that on New York's Wall Street United Press.

to

Exchange Rates

market

mid

at what price it would resume buying tin,

NY EXCHANGES

Britain.

York Building.

A high source said there was absolutely no truth to reports

New York, July 28.

2.80-1/16; Canada, Bombay that the U.S. would not resume purchases until tin 94.375: Belgium. 1.80; · France, fell to 90 cents

He 0.205 Holland, 20.32; Italy a pound. said, "I have never heard thunt 0.10; Sweden, 10.35; Switzer- 23.05: Argentina, 7.25; Business was dors in the local gure discussed." No declsion Land

5.50 Mexico, 11.57; its has been made beyond that to Brazil, exchowing rates to be reasonable, umomcial

Hongkong, hold off until the figure appeared Venezuela, 30.05; morning at the Bterling note (per 41)

17.80; Portugal, 3,50.-Associated 6.233 UB. Dollars (per $1)

The US. Government, which Press, Indonesia guilders (per 100)

alt tam tionis (per 100)

tin

for tha buying 27.00 does 1,705 country, stopped purchases an Bingapore (Strats)

17.00

March 4, declaring that it was FIC plastres (per 100)

sellers, "gouged" by Some tin has continued to

but cante into the country. this

2.34

New York, July 23. Prices in the seeds and oils market here closed toxiny un

the following. changed with axceptiona

Castor Soed, par long ton, Brazilian port 2.30 Inaminna-nited From.

New York flodisper too ludo F.O.B. $12.00/United Prem.

Pepper Market

P

Tel. 84165 & 88710;

PATTISON ORIENT LINE

LIMITED

S.S. “LAURE PATTISON”

DUE FROM:

Kobe In Port

LOADING:

SAILING FOR:

July 18th & 19th

Puann & Japan

July 25th

12-14 Queen's Road C.

Tel: 25848,

Chinese Agents: OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bouham Strand W. Tels: 26046, 20127 r 31119

NOTICE TO CONSIGNEES | NOTICE TO CONSIGNEES

m/v. “TAIYUAN"

Arrived 214 Joly, '1951)

Damaged cargo ex thie

VEDRA)

will be surveyed by Mesra, Col. Best fas at longhong

& Douglas af toughong đ New York, July 23,

Wharf from 10.00 am. on Wednen. The black pepper market re- mained inactive but steady in day 4th July and Thursday, 26th repru« | July, 1981, and corzignnea“ is under ok contract purchases tone following firmness in Indian wentatives are requested to be pres

enblea, Dealers indiented spot sent diring survey. made before Murch 6,

Cormation of American buying basis of around $1.70 a pound, at August/September - has driven fin down from Its with

and October at high: early this year of $1.80 around $1.69

for arrival por pound to a little more than $1.68, either;

dellvory.-Uälled Press. a dollar-United Fress.

NUTTERFIELD & 'AWINE, Agenta, AustraÏjau-Oriental Line' Ltd. China Navigation Co. Yadı

KA "ENGNING"

Arrived 20th July...... URL- Damaged cargo ax this

by 2ženja, Clog Kowloon Whazz from 20,00 FAKTA On Wednesday 29th July and |25th-July, "1931, "and"consign presentatives are requerimi frement durtig murvey,

dard de

NUTTERFIELD (ąWAWIRE,

·Asenia Asstralian-Oriental Lior TASK. China Mavigation Do., 244.