1951-08-28 — Page 9

Page

THE CHINA MAIL, TUESDAY, AUGUST 28, 1951.

Quiet Day FEARS IN AMERICA OF INCREASED INFLATION: WAGES ON THE WAY UP

R.I.A. On London

Exchange

ROYAL

Date

25LN ARE.

Skin Sept

INTEROGEAN LINES

60/p

ARRIVALS

"TSITJALENGKA".

From..

Macansat & Java, Poris

Гарам

8. Aftien, Mauritius & Kingsport Macassar, Zara Porta & Singapore

Szexité & Betawan. Dell

London, Aug, 28. There was little action in the London Stock Ek change today. Leading industrials and British Gov ernment bonds closed mainly unchanged from their Friday levels, Some There was a slight burt or section with Japanese bond The Financial Times daily

Londen, Aug. 21.

"STRAAT BOENDA" B. Americk, B. Africa, Singapore, & oils stocks drifted lower.

10

Part

Port

"DOISSEVAIN"

TIMESAN"

5th Sept.

"TJIVANGI"

ith Bapt.

"VAN HEUTEZ"

Manua

"TJISADANE",

Japan

SAILINGS

*THTJALENGKA"

"DOISSEVAIN"

-THERAN“

21st

Sept.

29th Aug.

20th Aug.

Jud Repl

7th Sept.

Rent. 14th Best.. 23rd Sept.

Data

4th Rept. 17th Sept. 27th Sept.

7th Sept. 18th Sept. end Aept.

-VAN BEUTAZA

"TJIWANGr"

"ATRAAT BOENDA" "TJBABAN?".

Το

Singapore, Jaya Patta & Machetar Manila, Singapore, A. Afrita & 1.

America

Yokohama & Japan Ports

Jasah Porta

Bingapore, Java Portu & Itxeassar "Japan Perly

Manila, Singapore, B. Aitiem & 8.

America

Agents: HOLLAND EAST ASIA LINE

Ship

"NOOGENIC** "ALMKENK" "HOOGKERK"

"100GKERK" "ALMKERK"

“HOOGEKRK"

ARRIVALS

From

Europa & Slogapore Хараа, Japan

BAILINUS

To

Japan via Manila, Manila, Singapore & Europe Manüs, Singapore & Europe

PEEKINGSZBUILDINGAITĖLIPHONES: 2015; 10: 280

CHINESEBAGEN I SEBLOCOSSAIN: MAAR CONTOH, BAB.

Wool Prices Drop In Sydney But Recover In

NZ

London, Aug. 27.

Wool prices fell from five to 15 percent at the opening of the Sydney auctions today from the record height reached at last June's "stockpiling" sales.

activity in the foreign bond

hedging to point

index of stocks was 131.7. Japaneza bonds

**** (414, of j

E

164. of 19071

•*• “D” (0%, of 1904)

"E" 10155, of 1960)

Consols

New York, Aug, 275

A tightening labour market, higher costs and increasing dangers of inflation are among the forecasts as some of the basic industries hit record production peaks.

Inventories were shaved a little more. Retailers were doing a little bettor business, and the profit margin 'was narrower but earning reports continued to make pleasant reading,

New defence orders were a shot in the arm for several segments of the textile Industry. Civilian business in the soft goods market was not quite as lackadaisical as it had been. There was talk in some quarters of inability to get good. workers easily, and storekeepere, looking thead Toto Christmas, were looking to housewives for

part-time work.

470

Associated Press and United Press.

WALL ST. DECLINE

WIS

The

became

HONGKONG

SHARE MARKET

'SHARES BUYEES. BELLENS SALES

BANKS

KK Flarik

14 1825 East-Axis

K. Whard.

119

*

N. PL. Whart' 5.29 0.35

Dock

Pruvisent Bhai Dock Wheelock

LAND

New York, Aug. 27. :

It was not hard to find the America Smelling and Re- (From Our Correspondent)

tendencies. The | fining and The stock market declined tallonary

In Ollawa, local

United

Business done on the Stock moderataly on Monday with Commerce Department reported

American income In 1050 | Packing "House" Workers-fame Exchange this morning. 'សូ trading slow. Business fell away averaged $1,430 for every man, up with a new one. Demands valued at $530,587.60. Nooh. in each suceceding hour through

on John Morrall and Company prices and the moming's trans- the fourth hour and the total man and child. This was

of $110 over the previous included o free la-pound amor actions: for the day camo to around

those figures

even divalent to each. employce 1,100,000 shares.

Prices among car, and since

vere sot, many active leaders were down less has had a raise, with more in

a wage-carrer on

Traders on the New York than dollar n_share with a few

more. Stock Exchange thought over There exceptions.

Government's cost of live the week's domestic hous and sparkling of plus signs. They ing index his an all-time peak the uncertainties of the cruce NEURANCES were almost all small,

Union M

750 talks in Korea and 185.5

per cent of the 1935-39 nationwide

Underwriters 3,00 striko Unioh average in July. This was a rise cautious, pastato

of

IK Fire ... 133 Workers in the copper industry of 0.2 per cent points from June Speaking of stocks, U.S. Steel DOCKS, ETC.

depressing effect on 15 to July 15, and was 0.1 above Corporate, world's largestcel trading in copper shares the old record of 185.4 in May, producer, said that 3,260 of Us throughout the day.

Beyond that it meant a one-cont 28,109,000 commoes shares were Benguet Mining topped the is most active stocks with sales of our pay rise for around one held by residents of Tren Curtain

million workers

whose wages countries, kit they were held 33,700 shares. It closed are fied by contract do the index. by fewer than 50 persons, indaily. down %. Lower were Phelps. That is more, wages; more money former employers who returned Dodge, American Smelting, to spend; a possible greater de-

to their Homelands after re- Anaconda Copper, Youngston mand for consumer goods

irementAssociated Press. Sheet & Tube, U.S. Rubber, International Nickel, General economist

New York Electele, New York Central and University professor, summed it United Air Linés,

The Federal Reserve Board up':' this way: Jong as the Curb stocks were mixed. rearatamant programme and reported today that American Lower were Ainsworth, Glant capital_^, expenditures

industrial production, dropped Yellowknife, Gold Lacreda, procen: magnitude

continue, | In July to the lowest point in Christy & Lionel Corp. Higher business is bound to be

10 months—and appeared to be He urged that Government making only were Aero Supply, Imperial Oil,

a mild recovery Kerby Petroleum, Solar Air business and the individual this month.

restrain their spending in order The Board said that seduced to 'curb. price increases and consumer-buying was a big in- 205.59 added that inflation remained the fluence In the decrease in

78.47 No. 1 economic problem.

production. 44.59

With retailers selling tower for months, have, really, goods and stocks piling up. flared lib "bgain lit Washington, factories had reduced produc- President Truman had hardly tion to get in line with the Bnished his message to the Benate slow-down in selling. blastra Jaw

the new Economic

The July output was record- than the three ed on the Board's seasonally

craft.

Dow Jones Averages:- Industrials

Rails

Vities

-Associated Press,

But at Wanganui, New Zealand, wool recover Irregular

ed slightly from the crash of 12 days ago and rose

from 10 to 12 percent.

The Australian drop was not as large as experts had antici pate The heaviest fall was in strong quality wools. Comebacks and crossbreds were 10 to 15 per cent below the closing prices of last June's sales but Merino wools showed only a five to 10 per cont fall.

}

Mining Strike In U.S.

The chief buyers were from Europe, inainly from France, Belgium, and Italy, with good support from Britain, Japan and local Australian mills.

Denver, Aug. 27. "The Continental und Japanese Production of strategically buyers seemed to have more important copper, lead and zine elastie limits than the Bradford victually halted today with men, In nearly every bidding strike called by the Interns. duel, when buying orders clash- tional Union of Mill and Smel- ed, it was the British who gave ter Workers.

Way.

Session In

NY Cotton

New York, Aug. 27. 1

de

MDEVIES N. Fadler

of

the

inmle control, an active.

!!

PRODUCTION DROP

Washington, Aug." 27.

بینیم

tréican senators accepted the adjusted.Index of. Industrial pro-·!

อง

તું

a á politicát challenge and Introduced a Bill to repeal the three provisions of the law the President disliked.

TWO RECORDS Amid the welter of events,

The cotton market was irregu- business and Industry produced Jar on Monday, Nearby deliverice at a high level. Some of the were subjected to hedging key production figures were off, pressure and profli-taking

contracts, However, held there were slight declines iri f

October December March

Misy

July

34.67-70 31.65-67 31.74 34.72-75 34.20 33.20

another and there were tivo

1935-39 at 18 per cent of the mark was 222,

that

average,

The June

Preliminary Indications are

output In August will be: abave July, but... somewhat be- the first six months of the 1850 level, the Board said... Heuter.

EXCHANGES

IN NY

New York, Aug 27. Canada (dollar) US$0.9 England-oficial unometal

30-day tuturom zi 90-day, futures

Australia (pound)

New Zealand

scady with commission houses tusty records. providing principh! support. The output of crude oil reached Beckers sald that the market wat 6,158,950 barrels, a pdcord for called upon to absorb a week-end the second week in a row. accumulation of hedge selling The electric. nower companies against increased movement of whd in the wheels of thuisry the new crop. Futures closed 65

reported

ted all-time ton produc- conta to 31.15 a bale lower than

Lion of 7,154,400,000 kilowa!! hours. Freight carloadings ron the previous close,

to 820,398 compared with the previous week's 800,364-show-

goods

materials were and

the country record Business loans were at a

:at 35.88 n. high Middling Spot

$10,379,000,000 0.8 New Dricans cotton futures clound industry bought and expanded. South. Antes (pound)

were barely Steck prices on Monday

was 100,4 per Denmark (krone) ...

| Belgium. (franc) hateady, 73 cents to $1.15 a bale lower. Steel

production 3154 cent of

drop rated

capacity, a

France from the previous week's 101.5. West Germany (deutsche-

mark) it was the 25th successive But Mabid week that the Industry Depart-Holland (guilder)

Italy-omclat reflected the tremendous Norway, (krone) ment production job private industry Portugal (ecide) has done in the past months. Its Sweden (krunt)

Spain (posata) agures also showed the increas- Switzerland-free...

Impact of the growing De- fence Programme.

Total our put

Tran (riál) for the good fand ervices

Iraq (dinnar) second quarter was, at a record | Turkey (tru) $320,000,000,000 a fehr pace.

The independent union-ex- Ä

ble alump in the New pelled from the CIO a year ago

the Communişı October Zealand sales in the past two for follow estimated

December 58,000 weeks had prepared the wool Forty

workers went off their jobs. men for a heavier fall.

Included a number of PLANS

members of the AFL craft of Aus- unions and Nailroad Brother- wool-gruwers them-

roods who refused to cross selves was shown by their re-picket lines.

ALTERNATIVE

But the optimism

tralian

jection by referendum, three Work atoppagos spread days ago, of a minimum price through

October December March

May July

34.01 34.00

mine smelters and Spot cotton. closed steady $1.29

Prem,

schcane. News of this was re- final production lines of Anish-bale Jower Middling 34.05-440 ceived with much

concern by

_^ | ing plants.

New Zealand New

growers and There was no immediate White

many experts thought that the House

A

reaction to Union Rubber Futures Australians had been too op-request that the Government

of take over the industry.

timisite about the outcome

today's

sales.

and Britain to support prices

times.

In Singapore

But Government officials ex- The scheme had envisaged a

some action soon. They

Shgapore, Aus pect partnership between Australia, made no forecast of what the New Zealand,

South

Prices of rubber futures closed Africa action might be.

The Union estimated that 95 today as follows- in bad times by levies collect per cent of the nation's copper Number 1 rubber, per 1b4

248-240 August ed from wool-growers in good production was affected as the September

145-140 October.gada strike hit the big four and in-

12339-13355 The New Zealand Wool

Major

Number 2 rubber, August: -144-145. Board will

companies Number a rubber. August 130-130 dependents. this week tied up are study

Anaconda Copper Number 4 rubber, August 12-133 alternative proposals for wool Mining Corporation with its big Spot rubber, unhaled 156-157 marketing, the Chairman of the subsidiary

... 106-107 Brass Block crepe manei American Board, Mr N. R.. Jameson, sald Company, Phelps-Dodge, Ken-No. I pile crepe

****** 100-174

United Press, today in Wellington."

necolt and American Smelting.

BYNTHETIC UP.

Washington. Aug. 27.1 The Reconstruction Finones

He said that the Board was and Relining. A wage and pen- disappointed at Australia's ro-alon increase involving an over-

of

HK Hotel Hi Land Bhai Land Humphreys UTILATINS

Tram XD P. Yam star #ertY C. Light

MESSAGERIES MARITIMES

MOM

"MAGELLAN"

FELIX “BOUSSEL" "MEINANI"

Яері. 20

LA MARSEILLAISE" W. MOTONNAY"

*

Leaving

For

Rep 21 N. Africa & Entops Oct 29 Kobe & Yokohama ...deti, 23 Oct. 2 N. Altea, di Eufɔpe subject to change without philce..

passengers & freight ́

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

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

Queen's Building (gr, floor) Tel. 26651° (3-lines),

MAERSK LINE

FAST FORTNIGHTLY, SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, vla SAN FRANCISCO, LOS ANGELEŞ AND PANAMA{

NEXT SAILINGS

M.S. "LAURA MAERSK" M.S. "HULDA MAERSK” M.S. "TREIN MAERSK"

Aug. 30

Sept. 14

Sept. 29

1315

#198

ARRIVALS FROM U.S.A.

M.S. "PETER MAERSK”

Sept. 14

M.S. "NICOLINE MAERSK

Sept. 26

M.S. "SALLY MAERSK”

Oct. 20

Electric

3244

Telephone... 1215 INDUSTRIALS

Cement Rope

11.0041,60 2000 @ 11.03

18

RES, ETC. Dairy Watson

15.43.

COTTONS

18% 19% 5000 10

Grains Drift Lower

Chicago, Aug. 27.

Most graine drifted a little lower in quiet dealing on the Board of Trade on adonday, Aside from initial buying in wheat the market did not show any response to the impasse in the Korean cease-fire talks. Wheat closed 15 lower to higher. Corn unchanged to h higher. Oals 6 to % lower. Rye

(new style) unchanged. Soybeans I to 21⁄2 lower.

230 346 bid.

·ZAD naked,

250

Closing:

Wheat Sept.

Dec.

March

010055

.1458 .002346

July

May

Corn Sept

400

Oats Sept.

2030

Soybeans Sept

.110031

$405

· MIDDLE, LAST.

ypt (pound)

72815

LATIN AMERICA

Brazil (cruzeiro)

The $7,000,000,000 increase Argentine omcial during the quarter was attributed Bolivia boliviano) wholly to "the gathering | chila-free momentum of the National De- Columbia (peso)

Cuba. (peso) fence Programme.”

DEFENCE SPEED-UP.. Moblikation Chief Charles E. Wilson moved to get things going faster in the Defence Programme. He appointed Clay.P. Bedford to speed

the lagging output of tanks, Jet caghors and nearly a hundred other maltary items.

Automobile production was

lection of the proposals as it was all boast of 30 to 32 cents par Corporation announced today a w satisfted the scheme would have hour was, the key issue. Ao benentied not only wool-growers einted Press.

but all sections of the com-

two

Board was now left with

funds fotalling £24,000,000,

which had

been levied from European Coal

growers In anticipation of a favourable Australian decision,

he satd.-Reuter.**.*

יד'

IMPORT OF FATS

INTO LU.S.

Situation

boost at 1% cents a pound in the price of synthetle rubber it sells, to the Industry.

of

40.

to 189,145 units compared a year ago of 170,042, but was better than the 129,001 the provie

previous week,

> in

Wholesale food prices cased The new basin of 20 cents o pound will go into effert, with oft a bit for the second week I thei

deliveries a row, while noteworthy changes September

in Fatali, food prieds were hard United Fress.

Preet price cellings may go Up à many cuts'-

cuts Instead of down 10

to and Forliwo & pound on

Swiss-Rumanian cenu as the

Trade Pact. MULOJ TE BERENT FON

· Switzerland brand's "Rumania on the ments agreement under which Rumania will pay BW 47,500,000 Swiss Kones, ap som pensation for. & Swise obočia“ na-

tonalised by Branta.

Maxico peio) Peru-free

*-2.40%

3.44-4

2.40

2.451

For Freight and Further Particulars please apply

AGENTS

JEBSEN

N & CO.

Tel, Noa, 86066-9,

Pedder Building.

PENINSULAR

ORIENTAL

STEAM NAVIGATION COMPANY”

R.M.S. “CARTHAGE”

SAILS:

NOTICE TO PASSENGERS

2.3534 ›BAGGAGE:

1.744-%

·774-73

2.934

Associated Press.

LONDON TIN MARKET

London, Aug. 27.

·Prices of tin jumped tinder the. Influence of pu üheönfirm- ed... rumour that Caucasian North troops had entered Korea. Turnover was 85 tons,

,0130

4000

1.00

1153

0000

A250

ail for forward positions.

2005

2102 2020

Prices: closed at the end of the oMelal morning sdccioni aš follows."

Spot tin, buýorð

£105

360 yen to US):

Bpot tin, saljers

1,105

·Business đême at ve

-United Press.

Miree-months Un, buyers

Uruguay (peso)" Venezuela bolivAST

FAR India (rupen) Pakistan (rupee)

Netherland. Bäst Indies Singapore Japan

India After Machinery From Japan

Washington Aug. 27 cont, la vitally necessary, states have reichen “s, trade and pay leon womenwistocking, Indiain

Bwitzerland

Paris, Aug. 27. Increased production of coul by European countries, runking them independent of American.

United States fats, oils and the third report of the OEEC cilseed imports during the first Economic Committee, half of the year boomed to 677, raw materials, situation, lasu

here today,OPY 300,000 pounds, the

the Agriculturo Department said..

increases in bil Falling an increase of the spectacular Increases in Imports brought the six-month coal production, the expansion total to 21,800,000 pounds of European Industrial produc- some 20 ppg, cent more than lion will be greatly impeded,

vital that the entire monitis of 1950.

estern seeds firewood wood Castor oil Therested" to 64,800 Europe becomes dependent Ullation of uch Compounds and rapeseed fo of United Blatos eval: deliveries, chemical piprania in

100,000 and Edible alive and achieves a marginet Switzerland allmezivain of 3,000,000 pounds security Interval production watch industrie were double last year's-United sufficient to remove the thronin tiles, dysg

Bücts and mas

Three-months fin, ⠀⠀ seller Business deña al: Bettlement,

923. .923-893

1,000 United Press,

New York Sugar Futures

o New York, Aug. 27, Tokyo, Aug. 21. World sugar, futures closed

the Gai

Government The Kogyo Shimyb Shimbun, today 0 to 25 points higher, planned, m

an industrial newspaper with sales totalling 21, contracts. A carpet

announced ported today that inquiries for roductione in floor coverings, and hydro-electric power genera Prices closed as follows:- another kallting concern was flon plants have been received Contract No. 4 (world)

from: Madras and Spot Those v reducing" atided ifờ

Hyderabad, September... the

0.06.nominal

while Par loading manufacturer

total value of two plants The said that, the price of a penny-wanted by Madras and thres

#matchen will; remain a Hyderabad, together, with ac- at around ecesories, was eetta 1.500,000,000 yen.

venty Rumonia L to tonir, Swit-29ABOUR TROUBLES SA

Labdie troibits" were hartat» zotland with oriental em

Pa major

Talica Preis,

FRIDAY the 81st. August ́ at 12,00) Noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and -Port Said.

·ALL › passengers baggage must be sent to the Hongkong & Kowloon - Wharf Co.'s Godown at No. 2. GATE, CANTON ROAD, ENTRANCE - BY NOON [gn=THURSDAY, the 30th August.¦y fac

| SPÉCIAL 'NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf-Cola Godowns for loading on board by ship's slings only. ******

EMBARKATION:

Will take plaće on FRIDAY the 31st August between 9.00 AM. and 11.00

NOTICE:-TO: CONBIONEES,

CONSIGNEES PER LLOYD TRIESTINO ¡ma, "CABOTO"

are hereby notified that their cargo is being discharged into the long- kong & Kowloon Whart & Godowis Co's godown where it will be at Consignees risk', and, subject to the Whart's sermik- and condition Of storage, and where delivery may be obtained...

ST.

· JOHN AMBULANCE

BRIGADE.

HONG KONG DISTRICT

Damaged packages are to be. Jett In the godowns for examinationg by Consights and the Companga pre veyors, Meta, USATA ANDOREE

10,00 kn the zelo Apart, 3064 | Books,

To comply with the General Bent- for distri

Lendaal hella Camil

gooda are 'examined..

No "clafine wildne the goods have godown, - and undelivered after: Lid 1981 will tre subject.

All claim In

***** Exchange Rates –

paper. quoted - machine

長

hero

the logot

signed

bogcized.

"No Fire Ianiran

Please communicate with

of the Brigade Bag" Road, 53on lang...

MR. K. C. WONG, Room BOP, Marina House