1951-08-22 — Page 9

MESSAGERIES M

Arriet

*"LA MARSEILLAISE", „AUK, PO

THE CHINA MAIL, WEDNESDAY, AUGUST 22, 1951.

MARITIMES TIN PRODUCERS FOLLOW

M

1.PAVINE

Aus.

Maruriltes via Manila

Aug. 24 N. Africa & Encope

"MEKONG"

...ANK. จ

"MAGELLAN"

.kept. A

**FELIX ROUSSEL”

**MEINAM"

..Brpt. 14

.Sept.

9#pl. 13

Alardellies Brpt. N. Africa & Europe

subject to change without notice.

passengers & freight

† freight for Portsald, Tunis, Algiers, Oran, Tangier, Casablanca, Invre, Dunkirk, Antwerp, & Rotterdam.

CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong

Queen's Building (gr. floor) Tel. 20651 (3 Hires).

M.V. "LA MARSEILLAISE"

Will sail for

MARSEILLES

Via

MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI and PORT-SAID

on

Wednesday the 22nd of August at MIDNIGHT

Passengers are requested to board the vessel

RUBBER GROWERS' LEAD

FINANCIAL

STRAIN

IN INDIA

Bombay, Aug. 22.

Bank of India

The Roservo

enld in a report today that the

year 1050-51 had been one of "erent stress and strain."

Fresh Inflationary forces

htt

bern generated by the outbreak

of war in Korea in June, 1950,

to

the

Exemption From Dividend Limitation Sought

(FROM OUR OWN, CORRESPONDENT)

-London, Aug. 21.

ROYAL HINTEROCEAN

Dala

In 'Fort

In

Port 27th Aug. ZELJ Λαγ

Sik

Rept,

7th REPL

[11th Sept.

[2141 Sept.

Tin producing companies have been meeting in London to decide whether they should approach the Chancellor of the Ans. Exchequer, Mr Hugh Gaitskell, with a plea similar to that sub- - 28th Aut. mitted yesterday by the Rubber Growers Association for exemp-

tion from dividend control,

The Malayan .tin producing companies could These Included "natural make out a case for exemption equally strong as

which had been added disturbances in India.

Indo-Pakistan

calomitics," the

trade deadlock and the acute that put forward by the rubber growers. Indeed, FAILURE OF

hortage of essential consumer some companies believe the case to be even กรม capital goods

and raw

today

materials.

The report published disclosed that India's total ro- venue (excluding

stronger

They argue from the ground that tin is a

RED DESIGN

Holsting wasting asset which, unlike rubber, cannot here PREDICTED

for 1051-52 was estimated of 7,880 million rupees (£BRA,

að with expenditure 500,000) 7.360 million rupees (£501

250,000), leaving a surplus of 230 million rupees.

Expenditure on security sCT- vices, including defence, was estimated at 3,100 million rupees on social (£232,500,000) and Kervices 1,500 million rupees (£112,580,000). ~ Reuter.

with their cabin baggages on Wednesday the 22nd of Black

August between 5 P.M. and 7 P.M.

Baggage Room and Hold Baggages will be registered at Kowloon Godown No..50 (No. 2 Gate, Canton Road Entrance), on Tuesday the 21st of August between 9 A.M. and 4 P.M. and on Wednesday the 22nd August between 9 A.M. and NOON. No baggage will be hccepted for Registration after this time.

CIE DES MÉSSAGERIES MARITIMES

A LIMITED COMPANY INCORPORATED IN FRANCE Queen's Bldg.

Tel: 26651 (3 lines)

America Expected

To Push

Cotton Exports

Washington, Aug. 21.

A delegation of Southern Congressmen re- ported that they were assured by the Secretary of Agriculture, Mr Charles Brennan today that the Government would push exports of cotton as a major means of stabilising declining cotton prices. Senator Richard Russell (Democrat, Georgia), the spokesman for the group, said after an hour's conference with Mr Brennan today that the Gov- ernment expected exports from this year's bumper crop to run between five million and six million bales.

Such a total would be about

110

million bules more thou

Market Allegation

placed. At the best estimate, known deposits of tin in Malaya will be exhausted in about 20 years though this period may be extended if the present negligible rate of prospecting is speeded up.

Any further restriction that'

long-term invest- discouraged ment would, therefore, seriously

the companies undermine ability to develop newly dis- covered deposits.

Meanwhile, the rubber rowers' letter to Mr Gaitskell Las aroused considerable in- terest in business circles in London.

HONGKONG

SHARE MARKET

Frankfurt, Aug. 21.. Mr. John J. McCloy, United States High Commissioner in Germany, declared today that the Communists had launched a new campaign among German ex-Servicemen to weaken Ger

for Western man support defence,

He predicted that the campaign would fall.

In his latest quarterly report to the United States Govern- ment, Mr McCloy said, "West German determination to un

and resist Communist (From Our Correspondent) cover

subversion has matured apprect- Business done on the Stockably, Even the baile play ot Exchange this morning was fear of Soviet attack has worn?

with excessive Noon thin

nctions:

Use and

It will be recalled that t hia recent statement on divid- end limitation, Mr Galtskell Para

ald that the Bill would make provision for

the Treasury, in ΣΟ exceptional circumstances, 10 valued at $838,419.20. decide that the amount ΟΙ Washington, Aug. 21. General Electric Com-dividend permissible might be prices and the morning's trans growing Allled strength. The

On

German stressed, how SHARES BUYERS SELLERS SALES

the proposed formerly headed creased. He

Mr contribution, pany, a firm

defence. Mobiliser, ever, that this power would be by the Defence

McCloy said that "the accent is Charles Wilson, was accused by exercised only in very special

Republi- cases.

no longer placed primarily on Senator James Duff,

whether or not the Federal can, today of dealing in the

Republic should actively partici. nickel black market.

pate in its own defence, rather, much of the debate contres on the manner and conditions of such participation,"

FAVOURABLE REACTIONS

He made the charge at a con-

General feeling among busi- gressional hearing after George nessmen in this country is that Williams of the GE Small A rubber companies operating in pllance Division testified that Malaya might well come into the firm paid M. C. Thomas of this

"very special category of tes

they Norwalk, Connecticut, $4.50 per cases. The diffe

pounds of have faced since the Second pound for 10,000 nickel.

Williams said the World War have been market price was 59 to 6?whelmingly greater than those cents a pound.

experienced by any other indus "When you are paying eight try except perhaps by the tin

rp,, : or nine times the market price, producing industry. don't you think you are in the market? Senator Duff black demanded.

BANKS

20 11434 -220.119

IIK Bank XD 1500 1520- Fast Asia

750 700-

4.10 135

INSURANCES

Union Underwillers. XK Fire. DOCS. ETC. K. Whart

N. P. Wharf 520 5.55 4500 6.43 2000 cr 6.30 Dock

1314 14.00 Provident

2.20 Bhal, Dock

over-LAND ETC.

11 Hotel HK Land Humphreys Tram Ko Peak Tram

·10) PA

foreign

UTILITIES

5.00 8.00 500 0.0 419; 4274 858 42.

7000

13.00 60438.30 CGQ 13.30

the rise of the Reporting an neo-Nazi Socialist Reich's Party (S.R.P.) in the British zone stale of Lower Saxony, Mr McCloy said that the United States "does not intend to per- to mit any radical rightist force seize power in Germany.

In the economic fleld the past quarter had brought a remark

PRIK LAGE.

Ext Arti. Ith Rept. 1214 Rept. 15th REPL

ara Bapt.

Date

Ith Rept 17th Rept. 27th Sept.

1 Bept. 18th Sept. and Bapt..

t

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81able improvement in West Ger For Freight and Further Particulars please apply to:

115 many's export position, the re-

139 1112

a

Rubber growers make, the point that natural rubber, has played and is still playing a vital When Williams shrugged a part

in the overseas trade of the in our past lenial, the Senator snapped, Sic Area and

C. Light (0) 7.25 7.40 220 "Well, I can tell you-you are.

to close the dollar gap.

3000, @-7.25 Williams and Sidney Gould. Hy lost much ground in the

C. Light (N) point out that Britain has

1.00 500 4.60 port added.

This economie recovery was C. Light (B), 7 130 4000 i 7

notwithstanding nickel products manufacturer of

Electrio 29.10 29.00-000 e 29 achieved Brooklyn, New York, testified plantation industry to

373 2014 Telephone

11:26 13.75 2003 steady decrease, in West Ger- man trade with he Soviet orbit. before the Senate Small Busi- interests and add: "Any checke

dropped East-West trade .... 11.60.11.00 1000 Cement

.150 nese Sub-committee investigating now through lack of confidence INDUSTRIALS

Gould said he would. Inevitably worsen their "groy markol

1000

113 from an average of 15 per cent. of West Germany's trade before was forced into the "grey mar-position vis-a-vis their competi- ket" to stay in business.

tors by forcing capital to shy

the war to 1:8 per cent. for the British Nickel was placed under the

enter- STONES, ETC.

Dalry

15.1 month of May, 1051. This docs geheral

1000 5 13.19** price freeze on January prise.. indeed

certain strategic not include 19 19.03 $400 a formidable 25 and a a special price order for

materials believed to have been new nickel was lasued on June argument and one that should

siphoned from Western Ger prices for carry great weight to Treasury

many into the Eastern zone 2. Tailored ceiling scrap nickel were handed down officials who are now looking for..

through illicit channels. on May 8.

n way, out of Britain's balance, While both buyers and sellers of payments dilemma. are liable for nines and Imprison- price ment for violating the ceflings, the committee chairman,

The "Financial Times" poses Senator Blair Moody, Derno-

said the Senators have not the question squarely this morn- "Can

nway

POSES A QUESTION

were shipped abroad last year NATO Get Downried to find out if either Gening in a leading article:

under a rigid control programine, Senator Russell said that ex- ports of the size contemplated would reduce reserves to a level which should have a strengthen- ing effect on prices.

To Economics

new

or

Saudi Arabian Oil Interests...

..

cral Electric Thomas violated it be supposed that todný any- one would set about investing ceiling, price, the

cums in say Malayan Mr Wilson severed 'all connec-ast The Hague, Aug. 21.

the firm when he rubber production?". tions with The

The paper stresses the need economic law accepted the President's offer to

the North head sponsored by

the mobilisation

safeguard the Sterling Arca pro- to

industries Atlantic Treaty Organisation to gramme-United Press.

primary producing which, it zoys, are vital to our The Congressional delegation help build up Europe after its

existence. "Continuous develop called on Mr Brennan to report | defences' are secured

may be

ment and exploitation of the the widespread dissatisfaction suggested to the Ottawa NATO

by among growers with the cotton Conference

tho Dutch

Sterling Area's supplies of raw materials should be right in the price situation and to appeal for Defence Ministor, M. Staf, it was

forefront of Government policy. stronger Government price sup- Jearned from: authoritative

"Every

effort London, Aug. 21.

be should sources here today.

The Saudi Arabian Foreign offered

to persuade capital to The Dutch feel that for the

of these Members of the delegation said that they had received no present the organisation should Minister, Prince Ernir. Faisal, has go abroad in search

keep to the broad scope of North postponed his departure for supplies... without them this

a member of country has no Paris tomorrow,

future," the commitment from Mr Brennan

co-operation

his sta

staff said tonight.

"Financial Times" concludes. to raise the Government price Atlantic support for cotton or for Gov. complete the plan for European

The reasons understood to of his oll ernment purchase of cotton for defence by 1954,

Cat Ahe stockpiling purposes. · ·

port measures,

nad

After that, it is NATO could well discuss a plan interest

bulldup of British Foreign Office. the economic

felt the be the commissions

They said that Mr Bronnan for told them that the Government Western Europe.-euter, was exploring the stockpiling suggestion. They added

that

they had no doubt about the Comet Off For

legal authority of the Munitions

Board to buy and store cotton

for future military ulo.

OPPOSED TO SUPPORT ・・

Senator Russell said that Mr

Test

Final

London, Aug. 21.

The Comet, Britain's jet air-

The Emir State visit here onded last, week but: ho re- mained to discuss with British

oficials the frontiers of Saudi

Arabia Reuter.

India's Exports Of

New York Stock

Exchange

New York, Aug. 21.

A 1wave' of profit-taking knocked the stock prices down in the last four and the las Anished Irregularly lower. The decline

for lis final test in Africa... liner left London Airport today Cloth To China extended In a most scations of

Bombay, Aug.

Broker were, afe opinion, that

Пол

1714 10

19 18.15 2000

2.40 2.05,

Watson COTTONS Ewo XD MISCELLANEOUS

Entertai

..ment

12.76

LONDON TIN

MARKET

London, August 21. The tin 'market was very irregular. Turnover was: 140 tonncluding 20 tons for

at the morning

683 B07 683-000 Business done at Three-months in, buyer 04215 Three-months in, weiler 843

84714-010 Business Gone at Settlement

603

cash.

Prices closed today

the official end of session as follows:-

Spot tin, buyer apot, tin, weiler

tor

Chicago Grain

Futures

Chicago, Aug. 21. gain futuro moved Chicago higher

on exporter buying of wheat against eales of 1,000,000 bushels to Mexico for Septem- ber shipment.

Prices of grain futures closed today as follows:- *United - Press. - Whoal-price per bushel.

LONDON RUBBERptember.

FUTURES

4335-443/2 4236-49

Boot

biarch (1932) May

• Согд Бро London, August 21. Prices 'of rubber futurea September

December closed today as follows:- Number 1 rubber. In cents

per ib. September October November October/December January/March

(1032)

April/Juna

་་

2034 nominal -United"-PrSIN.

Singapore Rubber

Futures 2008

Singapore, Aug. 31. Prices of rubber futures clover

Brennan was opposed to raising Aboard as passengers was the will port 20 millions the carrot fight industrial rket today les follow the price support for cotton be

famous test pliot, cause producers of other, orope tain John Cunningham,

who in yards of coarse and medium is day for correction. were likely to demand similer Tripoll will fly the Cornet for cloth to China during the next comes dent then send und treatment

special weight texta... will be in here today added that setstogtumber

four months, it was announced leadership), of airliner

trual average around the Sonator Rumeli anid that Mr I think the Comet

1962, he

The commercial Anein":"

announcement Brennan told the group that:

the purchase will be made on a Jura 1930, the Department of Agriculture sald-Itouter.

tree-on-board basis--Router.

Ascingh thuth was working with the Expert Import Bank on the matter of Napier, NZ., Aug. 21.". giving carly four to foreign rahasia has been buying inferior countries for the purchase of weds do which the was always interested and has roots tho price about za par pound. Elut“ boller qualities weal was lightly cu easier. The Unkest Staten bought sh Favery Aula Volled Press, 20

tako.

He said that, an announces ment along this line was ex

Printed and published by HILLIAM ALICK: GRINHASE: TH

and on behi

Bouth&China

of Victo

Post Limited at: 149 Colony of Hongkong u

Francisco

Landons Aug 21.!

in the

Francisco

March (1932)

-May

Hym

July

July

Bsptember

September

New York Hour-per 200 lb., Back. $12.30 United Press.

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