1951-08-24 — Page 9

THE CHINA MAIL, FRIDAY, AUGUST 24, 1951.

MESSAGERIES MARITIMES Korea's Effect America Sells Wheat

MOM

*"MEKONG"

"MAGELLAN"

Arriving Leaving

Sept. 15 Meliler

For

Ganz, za "Aug. 21 B. Albek & Europe

Rep hept. 14 ..Nept. 24 Sept. 21° N. Atītes à Europe subject to change without notice,

FELIX ROUSSEL" *"MEINAM"

#

passengers & freight

† freight for Portsaid, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, & Rotterdam.

CIE DES MESSAGERIES MARITIMES

P.O. Box 63, Hongkong •

Queen's Building (gr, floor) Tel, 26061 (3 ilnes),

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

+

On

Prices

New York, Aug. 23, . Commodity prices surged. upward here today on the news of the suspension of the truce falks in Korea.

24

#

Wool future prices rese

misel an 7.8 cents pound and New York cat- lon jumped by a much as 1.50 dollars balo.

Prices on the New York Block Exchange, after a mira opening, began to climb,Rauter.

HONGKONG SHARE MARKET

(From Our Correspondant)

Business done an the Stock) Exchange This meralag was valued at $200,820. Noon prices and the morning's trans- Rellons:-'

SHARES BUYERS SELLERS BALES BANKS

IK Bank.. 1000 East Asia ...

117

10 119

N. P. Wharf 6.10 8.30

To Western Germany

London, Aug. 23.

Sale of 334,000 metric tons of United States wheat to Germany was the main feature of business notified under the International Wheat Agreement during the week ended August-17.

Substantial sales of United States wheat to Belgium and of Cana- dian wheat to Belgium and Cuba wère also recorded.

Page

R. I L

ROYAL

Date

fr Port 27th Aug. 7th AUF. 4th Sept.

Kapt. 11th Sept.

Britain's purchases were again trifling, presumably reflecting the sept. still unresolved dispute over the six cents "carrying charge” which Canada and the United States have added to `the agreed maximum price.

Over the whole of the past i four week Britain Bas bought at

From a crop officially forecast |

n record of 102 "million

only 29,000 tons of her import bushels, plus a huge though quola of nearly 400,000.

very low quality carry-over of Canada's total sales are lag- 100 million bushels, Canada hus ging correspondingly.

Upsurge In Food Prices

New York, Aug. 24. News that the Chinese Com- B 750

munists 4

broke 2000 Gr

off the

truce talks in Korea caused an up- surge on Thursday In the prices of major food and manufoc-

Provident... 11 113-000113 ring raw materials for future

INSURANCES,

Union ....

745

40 a 730

M.S. "LAURA MAERSK"

Aug. 30

Underwriters 3.00 KK Fire

155

DOCKS, ETC.

**

M.S. "HULDA MAERSK"

Sept. 14

M.S. "TREIN MAERSK"

Sept. 29

LAND, ETC.

ARRIVALS FROM U.S.A.

In Hotel

HIK Lond

5.00 5.40 1300 5.00

42

606 421%

M.S. "TREIN MAERSK"

Aug. 30

M.S. "PETER MAERSK❞

Sept. 14

S'hai Land. 1.10 Humphreys

10 1015 2000 30

M.S. "NICOLINE MAERSK"

Sept. 29

UTILATIES

Tram XD

For Freight and Further Particulars please apply to:

AGENTS:

JEBSEN & CO.

Pedder Building

Star Fetry..

13.30 BO

ཝུ

C. Light (0) 7.30 75 1000 ̧#

Electric

delivery.

A burst of trade demond and commission house covering sent wool futures prices up as much as 78 cents a pound in carly trading. Wool tops advanced (almost as much.

New York cotton climbed us 7% much as $1.30 bale shortly 7.25 after the opening, but the 7.35 market subsequantly fell back 4.401ighly on profit-taking and 291⁄2 hedging.

so far sold less than 20 iniion", bushels under the agreement, evch though she has slashed the price of lowest quality wheat to far below the agreed maximuti.

This quality-grade No. 6 manitoba-la unfit for human conption but has A bikb protein conterit for livestock feed.

"Australia's - mies have been negligible. In 'recent week, but this is seasonni, Well before the new

crop year started on August 1, Australlo had sold forward

about a third of her total export quota,

BIG UNCERTAINTY

Australia normally goes slow cm sales at this time of the year, until she sees definitely how her .comes out. In the dw crop present year it will not neces-

Capitalists Behind The Iron Curtain

„New Tik, Abr. ÉL.` There are still muster Capualists, behhad the fron enrtain, the United States Bice Corporation disclosed

In a report on the dis- tribution of its securities,

路

by

the corporation mia: 453 He common alock and bight shares of ferred were

held sidents of IRÉ. sklents of Communfal China owned 2,000 Shares of cons« Ion stock, Exechoslovakia. 104, Poland 15 and Roma

*36, the Cohipáný, said. The total foreign · bold- fágs of US. steel chintion slock were listed as 825,- 198 sharès-United · ·Press.

·32k Aux. BUY AVE.

In Sept.

Ship

ARRIVALS

"TJITJALENGKA" *HOISBEVAIN" "THINEBAN

"TJIWANGr'

"VAN BEUTAZ”

MINES

From

Macassar de Java Forte.

JADATI

8. Aftea, Mamelting M. Bingapore Ni-Macassar, Tara Porta a släpipota

„Ktzaile”, si: Ziglawin Delt

"ITRAAT SOENDA” 'K. América, 8. Altick, Sinkxpore

"THĦADANE"

STARĒJA.

ppan

BAILINGS

"TJITJALENGKA“

"HOHARVAIN"

~THINKSAD"

"VAN HEUTA7""

1 Napt,

"THWANGT

1th Repl.

13th - Rent, Sird Sept.

Data

ith sept 17th Bept. zith Sept.

Ti Sept. 18th Sept. end Repl

母

„Singapore, Java' Path & Macarist sianlia, Singapore, 8. Aftles, & A.

America

Yokohama & Japan Poris

Japan l'ortR

Hingapore, Hava Patik & Macassar!"

"STRAAT BOENDA”. 'Inpan Ports OTJISADANE"

1

:Manila, Ningapore," R. Africa' & Я..

America

Agents: "HOLLAND EAST ASIA LINE

Ship

"ROOGKERK* "ALMKERK" "HOOGKERA"

"HOOGXERE". "ALMKERK” "HOOGKERK"

KINGS BUILDING.

ARRIVALS

From

Europe & Ringapore Japan

BAILINGS

Japan via Mánla Bianlia, Ringapore & Europe Manila, Hingabere & Europe

TELEPHONES. 280115 TO 28017

LEMENTAL AQUAIS BALKONSAGHT, READ A

DECLINES

Truman's

sarily prove to be good policy. Big Sulphur IN LONDON Request On

D

The big uncertainty is over, Comda's rather than Australia's markets. So far Canada has old hardly over a tenth of her quota for the year, while the United States has sold a fifth 20.40 Cocon WRA

than and Australia two-fifths. If the 29.60ne-half cent a pound at one agreed maximum price remains 12.50 time.

Coffee

vegetable olls were strong.

markét · price, Early gains below the free a world sugar

should eventually be futures prices Canada went up a half-cent a pound-able to sell her full quota and the daily permissible trading may be able to force Billain to limit before profit-taking

the disputed carrying

3500

C. Light (N) 4.40 4.00 2000 2011 300

1000

Tel. Nos. 26056-9. «,

303 400

Telephone. 124 1234 1600 INDUSTRIALS

Cement. 1145 1 Hope

. ព

STORES, ETC.

Dairy

L1 Crawford

COTTONS

Ewo

14.00 152100 a 18

1011 24

2.40 2.00

FOREIGN Shipping

EXCHANGES Agreement

IN NY

Canada

(dollar) England

New York, Aug. 23.

US$0.04%

2.30

3.10 31 asked

2.802 2.001

• ometal uneficial

30-day futures

90-day futuren

Australia

(pound)

421

New Zealand

(pound)

2.7016

South Afrlen

грош

7,80

-Belginny -

01091%

.1456

6024

4.20

[franc)

Dewmark

(krone)

West Gennart

(gällderi

030

France

(Franc)

Dratchemark

Holland

Italy-

umelal

Nomuny

(krone)

Portugal

(excudo)

.1406

.0048

Spain

(peseta)

Sweden

(krohe)

.0930

Switzerland

free

.2004

Middle East

Egypt

(pound)

2.001

Iran

frial)

Irad

dinner)

03123

2.61

Turkey (lita)

.5375

Lalin America

Argentine

official

0710

Brazil

R550

(eruzeiro)

Bolivian

(boliviano) Chile. free

With Japs?

Washington, Aug, 23. There may be

a move

to set the stage for a "unique" shipping agree. ment with Japan during. the Japanese peace con- ference at San Francisco next month.

Senator Warren Magnuson {Democrat) feld the United Press today that he would try to launch the idea Informal discussions and wh delegates from Japan ether maritime nations.

Senator Magnuson, a member of the Semte Foreign Commerce Committee and special United States cbserver for maritime affairs at the conference, sald such a pact was necessary to prevent Japan from driving other I'merchan marines cut of the

Pacific.

Japanese agreement on ship- ping rates and maritime prac- flees would clear the way quick reincation

of the peace treaty,

Waison

New

up more

pay

trimmed the gains sharply. charge.

super rose

more

Deposit Discovered

STOCKS

Lhodon, Aug. 24. The adverse news from the; Korean cease-fire talks and New York, Aug. 24. the Anglo-Iranian olls talks led The discovery of new targeto moderate declines in most sulphur deposit which promises.

rections of the London Stock to case considerably the world- wide thoringe of the vital in Exchange today. dustrial chemical was chneuticed yesterday by Freeport Sulphur Company.

Domestic

The deposit is at Ganden modestly, At Chicago most But from a total supply of grains were firm.

700 million bushels, and after Island Bay, lower Mississippi deducting generous allowances Delta about 100 miles southeast Block prices on the New York for Canadian home consumption of New York. Exchange, attór a mixed open-mid for carry-over at the end ing, tumea higher,

Ti and rubber prices were reported higher in both Singa

London. They had been relatively strady for UTOKS.ASKociated Press,

Economicore and

Agreement

Tel Aviv, Aug. 23. Ismel tonight announced the] signing of a treaty of friendship with

Urilled States “In" The Washington,

A Foreign Ministry announce ment said that a treaty of friendship, commerce and navi- gation was signed by the U.S. Secretary of State, Mr Dean Acheson, and Mr Abba Eban, Track Ambassador in Washing.

ton.

Pakistan's Economy

London, Aug. 23.

The Board of Trade today published a 172-page book on Pakistan in its Overseas Econo- mic Surveys series.

It deals mainly with econo- The Foreign Omec said: Thele and commercial conditions,

The book, which has several treaty makes a signideant con-

to the pattern of charts, statistical tables and a tribution

already map, has been written by. Mr economic agreements

Godfrey, former senior concluded between the United Walter

British Trade Commissioner In States and Israel"

Pakistan.

This is the first treaty of its

(of the crop year Canada will It la of the cheapest and obviously want to sell more than purest of the various forma of her quota of 232 million busfiels | sulphur, John Hay Whitney, under the agreement.

chairman, and Langbourn M

news conférence,

It is difficult to see where Williams, Jr., president, told 'a she can find enough markets, against the subsidised and aided United States whent and the Australian and East European rell currency wheat.

The Company plans to bulld a huge plant at the saree with the object of producing 500,000 tons of sulphúr a year.—Åsso-

Of her competitors, Argentina clated Press.

n:ay have another indifferent trop but

European the East countries seem to have their best harvests since the war,

NOTIFIED SALES

Sales notided. under the week agreement during the ended August 17 totalled 530,- 600 metric tons, against 411,000 the previous week and 142,000 two weeks before. The total of 836,000 comprised:

!

WOOL SALES FORECAST

Sydney, Aug. 23. Wool-growers bellave Prime Robert Menzies' an- Minister nouncement hap Australia would not participate in the

wli! wool allocation scheme United States 453,000; Canada | result in a firm market when 80,000; Australia 3,000.

wool sales re-open in Sydney on August 27. United States sales included: Germany 334,000, Austria

Brokers forecast little if any 12,000. Belgium 33,000, Brazil

variation in prices compared to. He conceded, however, the the

It is divided into eight chap- 10,000, India. 9,000, Holland the June closing rates. State Department had been

kind to be entered into by ters on the Dominion's creation 5,000, Peru 10,000, 5witzerland "cool" 10 the

trode and 0,000, Britain idea-United Israel. It provides among other and constitution, Press.

things for conditionis favourable finance development, agriculture Venezuela 2,000.

and and industries – Including 10 private investment designed to promote economic minerals and power-communi- cations and social and other questions affecting commerce.

The Ave-sbilling book's six

The appendices statistically analyse

International Wheat Pakistan's trade and give

Council has corrected the ex- necount of the country's agricul port quotas by transferring tural projects, industrial pro- 85,000 tons from Canada to the gtammes, And commercial United States. policies-Reuter.

Rubber Futures development. Reuter,

In Singapore

Singapore, Aug. 23.

Prices of rubber futures closed

today as follows:-

October

0.150

Columbia

(pero)

-4024

Cuba

(Peso) Mexico

1.00

Ypear)

.1165

Per

tree

LOGGO

Number 1 rubber, per lb.

Uruguay

August

(pena),

4000

September

14544-148 1835-143

..Venezusia

(bolivar)

.2005

Far East

August

Number 2 rubber,

141 142

Indid

1

Trunce)

2103

(rupee)

Hong Kong

Netherland East

Ingles

2030 21753

2040

Number rubber,

August

Number + rubbers

August

Singapor

Japan

380 jan ta. USȘI

Prem

Pakiston

13418-135

12735-12815 Spot rubber, unbaled ... 2452-1491 Black crepe

No. 1. pale crepe

104-108 105 -170 Usited Press.

STEEL CONTROLS More Power For

IN W. GERMANY

Benn Aug 23.

Swiss Industry

The West Colman konomiesey Rovereto, Aug. 23. Minister, Mr Ludwig Khhad, Borg power will be available today... decided.

Industry when, the to ev-establish to Swis dinibution controls over fret Calaneasca power houses near and steel..

hero begin produsijon at the,end Stof this month, you and This will assure to all cust

The two hydro-electria inatal, sombre monthly delivery at at

per cent of the Intions tmave an annual capoolly quartitig they fista in Noverns of 07,000,000 kilowatte, or which ber and Decenkernut, gaar 200,000,000 WIN DE Winter power

REORGANISATION OF RAILWAYS

Khatmandu, Aug. 23. The Nepal Govertiment wi shortly bring under a central

And 6,000

*

Canadian sales included Belgium 27,000, Cuba 32,000 Peru 1000, Britain -3,000 and Venezuela 2,000.

The revised totals are United States .6,044,000° and Canada 6,341,000,

Considerable conjecture was rife whether the United States would again restrict carly buying activities. United States buying last season skyrocketed prices-United Press.

Stendier Tone In Pepper

The

administration the 63-mille rull-New York Sugar The error dress when Japan ing

way system in the State, ac«- cording to Press reports here.

The 20-mile Westem Rail-

and the 39-mile ways systent eastern section will be merged with the State-owned narrow gauge railway--Rriter.

Japanese Ship

In Boston

2

Boston, Aug. 23,

Futures

New York, 22. World sugar futures closed 6 to 21 points higher with today Adles totalling 385 contacts.

Contract No. 8 clused 8 to 14 points higher, with salch total- ling 282 contracts.

11:

Prices closed as follows:-

(world).

1 Contrnet, No..

Bestenber

January (1035

March

May

The Arat Japanese vessel te sapienter arrive in Boston 'since the start: Boot of World IX docked at the Army :bate here today,**

6,850-ton motorship Holan Maru of the Nipper

·arrive Yuan.. Kalkhane kang with Sixto or funa fish, löys and Chrismas tree crudimenti,

United, ProIF.:

Contract No.1

..

Controls

Washington, Aug. 23.

President Truman asked. an unwilling Congress to- day to repeal three sections of the new controls law which, he said, would add vastly to the cost of living and and "put the black mar- and keteer back in the

Turnover was drailngs Chinese

small Japanese bonds were up

British Government

polnis.

two business,”? ? """

meat

In a special message to the bonds, uncertain carly, closed House and Senate, Mr Truman

firm,

Japanese bunde

"A" (45. of 1899)

"D" (42 of 1910)

"C" (5% of 1907)

"D" (B. of 1934)

VE" (85% of 1004) Consola

warned that. failure to amend the law he signed so reluctantly

szi | only-23 days ago would-endan- sager the military and economile safely of the nation and the entire free world.

7239

103

60%

-Asociated Press and United Press.

WALL ST. MIXED

The President's ownCon-* gressional lieutenants hold out

no hope of favourable action on his request, but implicit in his New York, Aug. 24. message was, the warning that The stock market felt the im- | he would hold Congress respons- "pret of the break in the Kresong sible to voters in the 1952 elec- armistice negotiations on Thurs- tions If it failed to act and run- 'day and responded with a split

inflation away and peace movement

United Press, stocks.

of war

Aircraft and steals were higher while motors, and radio televi alon issues were loweringkat

That is a traditional reaction to any development that assures a continuation of heavy American defence spending.

The movement was not clear- cut. Railroads, which would be likely to beneft by heɗvy röve- ment of military supplies, were narrowly mixed and not very ad- tive.

took hold

Reports earlier this week that. Mr Truman was planning such a request caused strong criticism by some Congressmenes

The President had denounced the present control, Jaws which become effective on August, 1 as inadequate to cope with in- flationary trendy-Reuter,

LONDON TIN MARKET

Free Port sulphur provided all the Arcworks in the wake of

London, Aug. 23. the announcement of its big now.

The tin market was strong this the sulphur deposit, found at mouth of the Mississippi morning. Turnover was 175 tons, Jumped more than ten points including 15 tons for cash.

the opening after

and then Prices closed at the end of the settled down slightly under that

official

morning peak. It was not very active,

followe however:

Texas Company was up around two points and active.Atsocial- ed Press,

Cotton Futures:

In New York

New York, Aug. 23. black pepper maricet ruled quiet and steadier follow- the uncertainties of the jalned the agreement at the Korean situation.

· of this beginning

month Japan's import quota of 500,000 Dealers reported that some

New York, Aug. 23, tons was then assigned 362,000 business for October shipment pound: to the United States and 148 was done at $1.70 DR.

Prices of cotton futures closed 000 to Canada. Ita revised split Sollers were -reported to be today as follows: is United States 407,000 and offering spot material at be Conada 88,000..

Japan has not yet nolined any purchases under the agree, ment. The only other substan tipi importing countries in that porillon are Denmark, Egypt,

Philippines and Spain.

dod nominal Reuter.

bla

4.4 traded

-D40 nominal ‚8,48 ended,

"Did nommal

nomin

Exchange - Rates

Dunia was done in the loci

· nosusinai - Bierling@hotelper:

twoen $1.00 and 3.81 a pound. October September ehipment was offered December at $1,79, on an ex-dock" basis. India was sold to have offered Beptember at. $1.78 a pound.- United Press,

GOA IRON ORE PRODUCTION

Tokyo, Aug. 23.3

of 600 million sens to aldu

34.90 34.86-24.07 United, Presa.

Spot tin, buyor - Spot Unsellors Business done, at

Three-months - tin.

buyers Three-months tin,

Business dahe at Settlement

Bossloh

008-070

Weekly Bank Statement

Paris, Aug. 23,5

The Bank" of "France""" staty- ment for the week endida

A

New York, Aug. 24. The Census Bureau reported August 10 reads as follows that 038,400 running bales of Total gold" cotton from this year's crop .holdings were ginged prior 16 August 19, Total of other This compared with 474,648) currencies bales ginned for the admb| Bighton period last year and 655,100 lance abroad two years ngo.

Were Advance to curren

France, and abroad

-The "Japanelo į Export, Bank ||223,500 bale:KARED FOR Databllication: fund has approved a long-term loan crop ginned prior to august b which were counted in the company, and a cont supply for the 1950-61 ORBOT, Conrk to develop Iron compared with 20312435bates of Neiss in direul org, production in Goos Records "the 1980 crop, and 292013 of "newspaper rreporta the 2- 1910, in crop A stogiated

here today-Beuter Press