1951-08-03 — Page 9

Page

MESSAGERIES

MARITIMES

MOM

KARSEILLAISE”

"QUISTREHAM”

ARRIVALS.

from Marseilles from. Japan

SAILINGS

PASSENGER/FREIGHT SERVICE

to Japan

to Marlies

"LA MARSEILLAIST":

"LA MARSEILLAISE”

FREIGHT BERVICE

“QUISTRÉIIAM”

"MEKONG"

"MEINAM”

Bib Aut.

14th Aur.

sch Auf. 2200 ADS.

.N. Africa & Europe'15th Aug. ...‚N, 'Africa Europe 30th Aug ...N. Africa & Europe 26th Sept,

for

FORT SAID, TUNIS, MARSEILLES, ALGIERS, ORAN, TANGIEE, CASABLANCA, HAVRE, DUNKIRK,

ANTWERP & ROTTERDAM,

"ALEXANDRE DE RHODES" to Saigon

7th Aug.

CIE DES MESSAGERIES. MARITIMES A LIMITED COMPANY INCORPORATED IN FRANCE Queen's Building

Tel: 26651 (Three Lines)

Indian

THE CHINA MAIL, FRIDAY, AUGUST

Cotton

For Red China

Bombay

India la to allow the

· export of cotton to· China- and Ceylan, it was Hounced today.

The Deputy Chief Con- trailer of Exports mild that licences would be granted to established skjøpers.

*Reuter.

HONGKONG SHARE MARKET

1951.

Industry In U.S. Busy

On Defence

Contracts

New York, Aug. 2,

ECA Aid's ROY seat

Tangible Results

Washington, Aug. 2.

ROYAL

Port

1. Kort

aid 11th AUR.

27th Ang

Business and industry are, basily adding to

The Economic Co-opera- the nation's stock of defence materials even as

tion Administration formal conferences aimed at ending the Korean programmes in Southeast 22nd Aus war are being held.

Asla have been operating 29th Aug. It is increasingly apparent that an armistice only less than a year, but aro beginning to bring in the Far East would not alter the defence pro- tangible results to the duction picture to any great extent, both President people, the agency, sald Truman and Mobilisation Director Wilson making today. that clear. A

(From Our Comaspondent) Business done on the Stock Exchange this morning

Was

and those Basic Industrien valued at $161,008. Noon prices and the morning's trans-gid en military orders are working their machinery to the actions:-

init

Even SHARES DUYERS SELLERS SALES facilities. BANKS

K Bank XD 1400 1838, : East A

100

SUIPPING

Steel is being turned out at the envious rate of 101.4 pér

Uncertain

gent of ruled capacity. Freig Trend In

darloadings of 804,570 show a of raw materials healthy Bow and finished goods to and frem the

milla.

But the economy is not all There are and creamLÚ labour troubles.

INSURANCES

Union ******

745 923 Underwriters 3.00

250 750

1000 3.45

UK Fire

133

Aala Nav

4000 13500

peaches

DOCKS, ETC.

civilian stod

體

IDO

BO

N. P. Wharf 4.00 4.95 1000 100

4.55

4.95

1100 @ 25

freely.

Provident... 11 1235

Wheelock

LAND, ETC.

4.83

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, VİS SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

HK Hotel

1 Land 2

S'bal Land 1.10 333 -

UTILITIES

M.S.

"GRETE MAERSK❞

MS. "OLGA MAERSK”

M.S. "LAURA MAERSK”

M.S. "HULDA MAERSK❞

M.S. "TREIN MAERSK"

M.S. "PETER MAERSK”

ARRIVALS FROM U.S.A.

Biar Terry..

1376 1396 1000 @ 13.30

C. Light (0)

1000 7.00 1000

7

Aug. 4.

Aug. 14 Aug. 30

C. Light (N) 430 440 C. Light (8) 400 Electric 2034 Telephona..

300 # 27

INDUSTRIALS

►

Aug. 20 Sept. 3 Sept. 14

Cement....* Rope ******** STÓRKS, ETC.

L.

Crawford 24

COTTONS

Ewo

... 2.10

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

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 36066-9.

Kuwait Oil Steps

Up

Production

By

One-Third

London, Aug. 2.

20.90 21.20

10

NY Cotton

un the Philippines, the ECA pregramm: is progressing to cope with the two central and related problems of inferior and low gricultural productivity, the ECA said in a repar! et netivity for the Arst quarter of this year..

was sent to Con- The report gress today by President Truman without comment.

During the first three months this year

the

ECA obligated 26,2 million dollars for ECA

programmes In Boutheast Asla Formosa, the report said. Thle

raised to 61.5 million dollars the and

by

ship

VAN BEUTKEZ ~DOJISKPAINT

"TITJALENGKA” "TASHAN"

ETJIÐESAR” *BOISKEVÄIN"

RIVALS

From

Eva, Porte dapan 4"* \ 3

** Amérien, and S. affi,' 'sinikyre,

Saigon & Manila

$.. America, S. Africs, Singapore #

Makija

Atacama Java Paris, da? Ringspors. Japan

S.. Africa, Mauritian & Ringspers "Japan.

Mama 99, 0SAILINGS ·

***TITWANGI 4th ANE..

Kila Aug.

ra Ang. 26th Avg. Jist AB

"DUISBEVAIN*** IWAN BLUTAZI

"TJISADANE"

-"TASMAN” 1

VTIFTJÁLENOKÁ“.

****ZINERARY ARROJSSRVÄIN.

Eingspare Java Porte & Anenusky Yokohama a Jagan Ports. 522 1 Singapore, Penang' & Balawan, Dell Yokohama & Japan Ports Singapore, Hemarang.

Djakarta B. Belawan. Deli paylo Bingapore, Java Porta a Alacatiar, Yokohama & Japan Port

kraniin, Bingapore, S. Africa & -3.

Amefies des

gents: HOLLAND EAST ASIA LINE

MINS ARRIVALS

Date

13th, ASE.

Ship

MAAGTEKERKY

WALA

th ARK 19th Sept. kud Sept. and week Ort.

amount authorised

Zist Aur: for commodity and 17th Rept assistance to the Mild Bent.

New York, Aug. 2, Small Inventories ct

alternate flurries of The trade buying and hedge selling are high.

to buy kept prices bobbing · up CCESATIET is reluctant

down in the afternoon dealings. soft spots have resulted The final price ruled 0 higher Asia area since June, 2nd wrek Get.

price reductions and to a points lower. In some some curtament by makers of

Prices of cotton futures closed civilian goods. But mest busi- nessmen and industrialists be- as follows:- lieve these are temporary. -

Spot noyances rather than long-term Dclober

December

MORE INFLATION March (1953) The Guaranty Trust Company stay of New York echoed the feeling it said in: ita of many, when

con-

October December

34.50-34.34

technical

5,- 1950, the grammes

date. thos pro- begun, the agency

sald-Associated Press. -

LAND

REFORM

Washington, Aug. 2.

President Truman "sald at a

36.40

34.40

30.35

34.25-34.27:

12.50

news

3245 nominal

Unhed Press,

NEW ORLEANS MARKET

monthly servøy, 19

"Personal income has tinued to rise. Plans for business October

investment in

and December new plant equipment

ment have been stepped up. March (1953) The

of the May preparatory phase

Dalry 14.30 14 100 14.00 rearmament programme has been October Watson... 10% 18%

The Rubber

Markets

London, Aug. 2. Prices of rubber futures closed today as follows:- Number 1 rubber. In

cenia per ib. shelve

September

October...

4284-34

November

4014-

October/December

405-41 361-37

January/March

April/June ******* 3911 nominai The market will be closed from 1 p.m. on Friday until

Tuesday morning-United Press.

SINGAPORE

MARKET Singapore, Aug: '2. Pilces of rubber futures closed

"The Kuwaft Oil Company in the Persian Gulf has stepped up oil production by about one-third today as follows:- over last year's record, it was announced today.

The announcement by the Anglo-American-owned Kuwalt Oil Company coincided with the closing down of the refinery in Abadan in Iran.

The Kuwait Olt Company is 1 considered one of the richest areas in the world.

It now produces at an annual rate of over 20,000,000 tons and experts believe that the output raised. could be substantially

The company is owned in equal shares by the Anglo-Iranian Ol Company and the American Gulf ou Corporation. refining capacity reaches 25,000 barrels a day. The reserves of the area are estimated at 7,000,- 000,000 barrels.

with: 7,504,040 tons in the first half of 1950.

But bulsat in June alone in creased about two-thirds

(ho level of a year ago.

Partial Relaxation

*

· Of Ban

London, Aug. 2. Britain today partially relaxed the ban on future emigration of and on the British companies

brought closer

to

completion December with a sharp increase in Govern

In the INCTY buying expected recond half of the year.

"All these factors paint to a revival of demand and renewed

inflationary pressure in coming months"

There is concrete basis for this in several ロー iine of thinking nouncements.

343

331-342 34.35 blo 34.33 bid 24.09

22.04 Bid

11.43 bild

-United Press.

conference

that the United States delegation to the United Nations Econgmic, aud was authorised Social Council to discuss the question of land reforin

and in Asia, Africa America

Ja Council

now in session in Geneva, Switzerland,

The President did not elabor- ate on his statement or explain it further. The comment was

in answer to reporters' ques- tions whether the United

TEXTILE MARKET

New York, Aug. 2. States would make land reform The cotton textile market was in those areas of the world slow today with prices tending the min plan in its platform for world economic develop- ment.

to move lower in the re-sale market.

The wool goods market was President Truman, in his mid-quiet. Rayon goods were slow. year economie report, talked of-Associated PresMS,

$30,000,000,000 increase in the

annual military spending rate during the year ahead.

FEELING FINCH

He said million more workers, a five per cent. boost in national output despite cuts. in civilian goods. and still taxes and controls to offset a widening "Indationary gan,"

aid this would require two London Stock

The castera air, procurement strict reported that as of Juns 80 air force prime contracts valued at close to $1,500,000,000 were held by 833 firms in its area.

Bon

Exchange

London, Aug. 2.

Japanese bonds

"A" (is, of 1999) "B" (s. of 1010) (88. of 1907) “5” (ás. of 1934) "E" (527 of 1934) Consols, 65-13/10.

Curtis Wright Corporation said it had received defence con- 144-144 tracts totalling more than 5,1- Press 13412-136000,000,000. Presiden: Roy T.

130-13014

Number rubber, per ib.

August September Octobber. August 188-196 Number 2 Number 3 rubber, August 131-133 100-103 No. 1 pale crepe

-United Press.

TIN MARKET

EASIER

Londin, Aug. 2 Prices of tin were easier this morning. Turnover was 140 tons, including 20, tons for cash.

Prices closed at the end of the official morning session follows-

Spot tin, buyers Spot in, sollers, Business done ot Theme-months tin,

buyers

Three-months tin,

as

800

807

Production of the Kuwalt Ossue of shares in their overseas Company in the dust half of the | subsidiaries. current year was recorded, as The ban was imposed in this 10,937,188 tons. This compares year's Budget to prevent such companies from avoiding Bri- tish taxation. The most

important of the over relaxations is that in future the

ury, will allow the emigro The Treasury annual output in Iran was tea of any company formed refining after the passing of this year's 31,000,000 tons. The

on an entirely capacity in Abadan is 23,000,000 Budget to carry

If more or higher) New York, per Ib. 103 new trade er business

capital is owned abroad. The cbvious purpose of this

Americans

tons a year.

Harley said the volume of bath

military and non-military bust- ness continued to increase.

NY

Although President Trumsa only condrened that the Vatted Stater delegates were prepared

lo: discuss the question, other

"ALMIKKILICHOLA

"ROOGKERK'

01

Japan

Rurope

Харан

From

Europe & Aingapore Japan

"Manlia, Singabors A. Ruropa-

Japanvis Manila

Manila, Singapore & Europe, Japan via Bianlia

Mamita, Singapore, &: Europa

KINES: BINDING "TÜLPHONES: 28615) TO - 280)!

AGENDA AY IOANALGNI HEPATE IN

INDEPENDENT

ISBRANDTSEN

DEPENDABLE

Sailings to New York, Baltimore and Philadelphia

via San Francisco or Los Angeles

Dne from

Salls for

Direct for

Eva-Manila Aug. Fit

Japan Porte & the U.S.A

Aug, 10th

officials had long indicated that S.S."FLYING INDEPENDENT" New York

this Government

looks favour-

ably on land reform wherever and when it can be accomplished if such was as to increase pro- duotion and contribute to the economic welfare of the general community without Berious tecnomic disturbances

United States officials looked Upon

Hand reform as a measure

which

For Freight Rates and Passenger Accommodation,

please apply toʻring carton

A. P. PATTISON & COMPANY, INC.,

in some places can btt adopted in an orderly and care General Agents: 50% fully planned way as a boon to

64%

83

75

TDİSİNG the living standards

the

eammon people. But

they

United and little has been said

-1011⁄2 † approached the matter in?2}

RECOVERY New York, Aug. 2. The stock market continued But business and industry are a recovery movement today. A beginning to deel the pinch of last-minute buret of profit higher toxes, higher material taking caused scattered inroads and labour costs. The forests of but not enough

to affect the early 1951 are beginning to be realised margins of profit would pace materially. be lower, although sales would he higher-Associated Press.

Grain Prices

In Chicago

Chicago, Aug. 2. Prices of grain futures closed today as follows;—

Wheat-peles per bushel.

Trade expanded to proximately 2,200,000 shares.

ap-

and

ོན་་ཉི་

about

details since the Govern

ment feels that different methods

CHINA, KOREA, JAPAN & HONG KONG,

12-14 Queen's Road, C., 4th FL., Tel 25846.

would be more practical and pre- Chinese Agent: OVERSEA CHINESE SHIPPING CO., ferable in different places.

48, Bonham Strand West. Tels, 25648, 26127 & 31119, United Press..

Relaxation Of Control

The advance was helped along by rails, oils, rubbers

Washington, Aug. 2 The Government relaxed its chemicals. American Cyananide hit a gain of $8. before falling controls on the production of back, and Dow Chemical second civilian goods today to permi preferred at one time gained manufacturers to use their strel $11.55.

supplies to make any items they choose. Previously, manufactur-- ers. had been allocated skel for specific purposts. For example, for refrigerators steel allotted could be used for nothing else. The manufacturer may now use

sata or part of it for mak his quota or

Pittsburgh Steel rose

more

then after reporting first half carnings or $3.98 per share against $2.11 a year ago.

Dow Jones Averagos-ak- Industrinis

Business done at Settlement

200-705 Spot 007

September

United Prem.

December

New York, Aug. 2.

March (1952)

Prices

in the melal market closed today unchanged with the following exceptions:-

May

234 2.41-15 *A3**~2.42%

201,69

Rails.

Corn

Utilities

Spot

1.99

81.08 45.45 Associated Press.

September:

December

March (1983)

May

Rye July

September

1.7336

July

September

New York dour-per

Back

Tin, Grade A (90.80 per cent

The other Mid-Eastern -oil than 50 per cent of the com-cents--United Press, supplies are as follows:

pany's

1. Saudi Arabian production is now at an annual rate of 37,000,-xemplion

is not to deter from and others

000 tons. Last year, 23,600,000| lons were produced in that area, forming companies in Britain te

2. Baltrein produced 1,500,000 develop new industries.

for

Individual cpplications crude oil per annum and the re exemption will also be consider-

140,000 bar-

Ded.--Reutsr. rels daily.

fining capacity

is

3. Iraq oil, production now

runs at an annual rate of some New York Sugar

8,000,000 tons a year.

A new. the South near Baars, la expootert to start production next year at an annual rate ali 2,000,000 tona.

allfeld nt Zubair, in

further 13,000,000 tons

year of new production

peated by 1983 after the comples contracts.

of a new pipeline

tion

Futures

Pepper Market

Firmness

New York, Aug. 2 Sustained firmness in the Indian market bolstered the

black pepper market bere,

1985 - Undbed Press.

PRICE ORDER

CRITICISED

·

ing ranges, vacuum cleaners: or

other item. апу

"

July

London Financier Buys Furness

Shipbuilding Yard

London, Aug 2

A cheque for nearly £4,000,000 slid across the table of a West End office and 47-year-old financier Charles Clore had bought a shipyard, CUS

French pusistance during the The shipyMAKES Furners

Land Company Shipbulking

of war. Middlesbrough for Started by

When Clore is not working-

the

The quotes themselves remain Thelma Lady'y Furness & late hours 8 am to 8p.m. in May- They have been husband, the first Viscount fair's Park-street-he has one unchanged.

hobby, turining at his 500-acre fixed ist 85 per cent of the amount Furness. DEZE COMI used before the Korean war At least ten of the wealthy home in Oktarilshire/ during the

Although Clore Joins -September Furness damily: headed by-the

Leonard Salper making rest of the year.

share the Clore millions." enable new order will

For West End (Unaricier directurhips more than 60 a manufacturers: 16 let up on Charles Clore, it is the biggest Furneas will still be at the head pleatiful Rems Nike refrigerators deal; he has pulled yoff da 25 of the budness. He is Stephen and washing machines and years of densate si Noel-Furness

Weekly Bank per and per cent for the 22-year-old second Viscount, will board with his lawyer friend

Statements

London, Aug. 2.- The Bank of England state- ment for the weckeriding August 1 reads as follows:

Noter in circulation 24,361,634,000 Public deposits

389,300,000 Government

Chicago, Aug. 2 though business remained quiet. Dealers indicated, on a nominal: The American Meat Institute Private_depoalle basin, $1.69 a pound for spot, declared donight that the ex- Other Past "Now York," Aug, 2.

port trade in meat and meat Rele nearby and expected early arri World: sugar futures closed

products was grinding to a full Bank atto with gfurther today 2 points higher, to 3 points.

the new on as a restit lower,

#ia postali order issued with sales totalling 43 around one

Tuesday by gher replacement

are also being taken into the Once of Price Administra- Contract No 3 closed 3 higher consideration. That idea was tion. Kirkuk to Banias on the Syrian to lower, with a rales tofalling strengthened by reports of de- cost of the Mediterranean An 200 contracts,

Presum The Institule said, other spices United Press ably all the American export for the trade will be similarly affected, reads as

It referred to the export price control order whing, broumu, effective next Monday

sancement, had been ecocted in Prices closed as follows →→ ¡veloping buying intorest in

principio. In Baghdad sarller last; week between

contries. No. *: Twärlay (98) 1000 bid

17) nominal

3.99,naminál

controlled Iraq Petroleum Tomé 1952) pany and the Iraq Governätbar)

United PressO

Now

Bilers offered

320 morningi

1,00 traded

Exchange Rates which prohibits all sp

nited" "Pram.

L

centrate 'on goods for which. there is strong personal demand.

United Press.

Israel's New

Freighter

They started with a roller- skating rink in his early 20's- Since then he has bought and gold, mainly at a prest when has made him a rich man.

He made a quick, (£60,000 ph a bus-body doul, Ho, has been in Woit End theatres, In en

out

again as a proxit.

Ship Delivery Blocked

The last: big deal was für Brutodie Womington, Aug 2

BANK OF FRANCE"

Paris, Aug, 2 The Bank of France statement: Israeil fag

14zhë Cloch techu anding Fly 28ive other of its ships already

["ply" this route, p

a, butines (bui MAnother 10,000-ton WTK, 221,046,478,800 || Has been zoguired by 'thài

he does not Comgång, fory the before the ort of bulk ments neds, no build

urdors. mainly for

* Halla, Aug. 23. £1,128,000, when he sold a The Slate] Department - die. The Israel-America The

the United Line has chain of dress shops und cloud today and livery of bangkit 10.000-ton freighter for store.

is blocking States trans-Atlantic service under the

small German ships to Russia, nins already

got word the

stfile anyway.

ble Tranch