1951-08-31 — Page 9

Page

MESSAGERIES

ARITIMES

MOM

Arriving

Leaving

Sept. 15 Matkritica-

“MAGELLAN".

Rept, $

**FELIX ROUSSEL"

'MEINAM"

Sept. 201

**LA MARSEILLAISE”

..Oct. 20

+"OYONNAX"

subject to change without molled,

passengers & freight

sept. 29. Atėjen). Europa Oct. 21 Kobe & Yokoham

Ort. 25 N Atries #Europe!

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

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

Queen's Building (gr. floor) Tel. 20661 ((3.lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PIILADELPHIA, via

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

ARRIVALS FROM U.S.A.

M.S. "LAURA MAERSK"

M.S. "HULDA MAERSK"

MS. "TREIN MAERSK”

M.S. "PETER MAERSK”

M.S. "NICOLINE MAERSK”

M.S. "SALLY MAERSK"

AGENTS:

Sept. 3

Sept. 14

Sept. 29

Sept. 14

Sept. 20

Oct. 20

For Freight and Further Particulars please apply to:

JEBSEN & CO.

Pedder Building

Tel. Nos. 36066-9,

Indian Proposal For Refinery

New Delhi, Aug. 30, India has proposed to three oil companies- two American and one British-that they should set up an oil refinery in India which would be guaranteed immunity from nationalisation for at least 30 years, it was learned authoritatively here today.

·

The companies are Caltex, Standard-Vacuum and Burmah-Shell,

The proposed refinery will love an

annual

two million tons.

capacity

•

of

The proposal was made as the result of the closing of the Abandan refinery and is now being considered by the three companies.

A similar proposal made in 1948 was turned down by the companies because of the heavy cost involved after...a som- mitteo of six dad spent three months touring India to study possible sites for the erection of the refinery.

The present proposal by the Indian Government is that the companies agreeing to work .the scheme should have full control over both capital and management.

The

4

Government would guarantee not to nationalise the

Trade Talks Agreement

ET!

Pretoria, Aug. 30.

Western South Africa and Germany reached complete agreement in trade talks held here

offlelat this month, statement said today.

"The statement was issued by of Commerce

The talks were held here from August 3 to August 25 between senior officials of the Depart- ment and four-member Ger-

the

ond

A

intend-

man delegation heated by Dr

Cherpenberg von The discussions were ed to settle questions which re- mained outstanding at the Tor-- quay meeting on tariffs and trade

Industry for at least 30 years held from September, 1950, and I nationalisation came April 1981-Reuter. later due compensation would be paid,

SAVING 'CURRENCY The suggestion made by the Government is for either a two- million ton refinery in Bombay State or two refineries of one million tons each, one of them in Bombay and the other. In Mudras State.

THE CHINA MAIL, FRIDAY, AUGUST 31, 1951.

Jap Export Empire Ministers To

Control

Tokyo, Aur. 30.

The Ministry of Inter- nationa, Trado and 'Indus- · try... has – decided......... la.. add. seven items to the list re- quiring an export permit.

They are secondary, tex- Illès, (except linen/zvoda) EXURE) Buna, ForKIITOS, porcelain and earthenware for dinine ure and ens melled iron wares.—Unit- ed Press.

Firmness

Discuss Questions Of

Materials And Goods

ALTERNATIVE

SOURCES

Fort 4th Sept.

12th Sept

21A Bepl pich, Heft.

London, Aug. 30. Commonwealth Ministers are due to meet here next month to dis- cuss the supply of raw materials and manufactured goods. They are On London expected to give a good deal of thought to the possibility of developing in

Exchange

- London, Aug. 31. Prices on the Stock Exchange |

day.

were generally firm on Thurs

Textile Issues led a rise in the

British domestic section.

Olls were slightly improved; few British Government bonds marked up gains,

The Financial Times" dally In- dex WAS P:CIS.

113.0-Arsectated

JAPANESE BONDS

New York, Aug. 31. Japan bonds advanced frae- tionally 30 13% points in the foreign dollar section of the bond market on Thursday,

bonds advanced Corporate narrowly as exceptionally heavy trading in a number of indus- trial Issues gave the market its busiest day in more than month.

A

U. S. Government bonds were unchanged. Associated Press.

WALL BT. ACTIVE

New York, Aug. 30. Stock prices pushed higher in the most active session since August 2 with a turnover. totalling 1,950,000 shares.

The industrial average closed up $1.70 at 209.84 to 'set a new high.

Average gains of Rolls was 18 cents, Utilities 30 and General 50.

E

alternative sources of raw materials in the Commonwealth to obviate the need to import many of these raw materials from the dollar area and other hard currency countries.

A few months ago this might have been considered desirable simply for the sake of the expanding Commonwealth defence industries, but

since then a new reason for urgency has emerged: The shift in the terms of trade against the United Kingdom, followed by a recession in the price of many Sterling Area commodities, is beginning to. open up new dollar "gap,"

HONGKONG SHARE MARKET

The Inflow of, gold and dollars resulling from the high prices of rubber, tin, and wool, has come to a slop, and (From Our Correspondent) our, need to go on importing large quantities of American

Business done on the Stock raw materials will andoubtedly become on. Increasing| Exchange this morning WHE drain on our reserves. This drain' may be accelerated If valued at $332,033. Noon prices

the morning's we are deprived of the product of the Abadon, refinery and

actions: and have to spend more dollars on oll.

SHARES DUVERS SELLERS BALES BANKS

10 6 1530

!

1525

ast Asia...

רי

K Bank

INSURANCES

Tinion... 78245)

wealth primary producing in- dustries that may prove to be supply uneconomic when the position becomes easier, they

Underwriters a will be running grave risks.

In Fre... 135 SHIPPING

DIFFICULT DECISION

of com- Under the pressure bined raw material and dollar hostage, the Ministers will un- doubtedly examine the possibility of solving these problems in a way that has met with some short, success in the past. wealth for new sources of supply. discussion on whether to they will comb the Commen

In the present situation any But in so doing they may be ex-bark upon the large-scale

15 a velopment of posing the Sterling Area new set of problems for the material producing industries future through the distortion of must begin with certain neces-

sarily arbitrary assumptioris, the normal pattern of trade.

These dangers are discusa d by Political and Economic Plan- Metals and oils led the rise. Į ning, on Independent research Coal got a good play hear the erganisation, in a recent report end and shares

rose over a un the. Sterling Area's policy Rails had good gains for|and prospects. point. the third successive day.

Of 1,115 issues traded, 614 advanced, 207 declined end 234 were unchanged---United Press

Weekly Bank Statements

ment

London, Aug. 30.

1

Tow

trans-

.50 @ 120

4:10

6800 4

NP Whart 5.20 6.30

Anin Nov

DOCKS, ETC.

cm-

dc-

Dock

raw

Fabyident Whorlack

LAND, ETC.

HK Hotel.... HK LAT... Humphreya

Tram XD Star Ferry

24

1124

500 5.00

10%

(103) = 360 @ 1135-

C. Light (0), 7.35 1.30 1500 @

C. Light

·2.20

500

2nd Sept.

ABRIVALH'

LINES

"Katrien, "Mabritons & colppapore "TJWANDE

Mávastar,' žava Paija'&„Alagapars, "VAN BEUTER” 'stralia, & Delawar Dell "STRAAT KOENDA" B. Ameries, 8. Atrien, Bintapote

"Mañlia

CATIIRADANELORagan

#TIITJALENGKA”

POTJIBERANS

--

Marnstar, "Java" Pores & sthrapor

SALLINGS

Yokohama & Japan Tora

»VAN VERUERE“ Japan. PortR “TIWANDI“ Mkingapore, "data Porte & Macaq HERRAAT BORNDA”. Japan: Porta de mate “THRADANE“ Aranda. Alógapore, B., Abies & A

America

18" Get. PTJITJALENGKÁ“ Singapore, Java Potie of Maentear

Agents HOLLAND EAST ASIA'LINE

Dete

in Septi

hept.

"BODAKLAR”

(31 Sept end Sept.

"ALMKRAK”İ"

ABRIVALS

From

Europe & Stag pare Japan

Japan

BAILINGS

Japan' via, Manila

Manlia, Singapore 3. Zumpe atania, Singapore & Europa,

10817

KINGS HER BASE

PERFEJEONES

28015

PATTISON ORIENT LINE

LIMITED.

Due From:

Light IN) 4.40

2. 1. “LAURE PATTISON

In Port

Electric

31%

1000

Balls Forr

Direct to Pusan- & Japan Sept. 18th

1500

to Telephone

INDUSTRIALS on Cement

13 200

17.30

Tel: 28346.

Rope

If the Commonwealth Minis- UTILITIE ters are convinced that raw material shortages are likely to continue for some years to: come, they will be fully justified in furthering schemes for de- veloping alternative sources or The first danger, according to supply to supplement present PEP, lies in the encouragemen; world production and also

Industries and of new

raw slow down tho drain material supplies which, if more Sterling Area dollar reserves. free trading were to become pošali elble, would prove uneconomic utit, on the other hand, al This, it says, is the basic weak consideration of the stresses STORES, ETC.

Dairy and strains of the world pollti- cal and economic situation Watson leads them to the conclusion that scarelles will shortly dis- COTTONS,

will appear they

.no doubt exercise the utmost caution in colecting schemes for develop

驱

L.* Crawford,

24

*2.40

Dwo

The

Rubber

ness of our oft-proclaimed suc- casa in developing alternative the ources of

supply" in Sterling Area.

As an Temple P.EP, cites the The Bank of England state-assed thesefing up at a motor

for the week ending Industry (both for assemblag ing alternative Kources of -sup- August 29 reads as follows- tød full manufacture) in Austra-] ply.

£1337,000.003. There will soon be a grave, Notes in circulation Public deposits

372507,000 danger," it warn

"it warns, "that now or This will be an extremely Privata deposits......

whichdimcult decision to make. At Government securities 301,600.000 xpanded industries in Diler securities

$470,000 here has been much investment the moment, many Receipts

43,000,000 vill

markets 3 bankrupt, or, equally dematerial

are sull de- United Press. picrable, that present disguised dominated by American BANK OF FRANCE

protection will be regularised, as mand. Some prices notably Paris, Aug. 30. result et scellonal interest or those of Un, rubber and wool from The Bank of France statement | pressure, and that consumers have already receded

last the high lovels. reached be dented for the week ending August 23 will

non-Sterling reads as follows-

goods which they would prefer Spring, and last month, for the Number rubber. in conta per Ib ls buy."

first time since the outbreak October of war in Koren, United King- November dom import prices dropped Decriber slightly.

Bank allo

Total gold holdings Fra. ......

Toul of otlier : eur-

renclus

Sight balance abroad Advance to currency sshilisation fund Bus discosittled In Franco and abroad Nales In rculation Current accounts &

deposits

1031

3

raw

Markets

London, Aug. 30. Prices, cf rubber futures closed day as follows

October/December'・ ;. January/March (1953) April/June:

434-41

43 434

4135-42

12-14 Queen's Road C.

Chinese Agents;

OVERSEA CHINESE STEAMSHIP CO., LTD.

48 Bonham Strand W. Tels: 26848, 26127 & 31110

Germany &

Sterling

Area.

London, Aug 30,

· Germany' is to join the trans- forable Sterling grea..

It was underfeed in London "today that, the British Treasury $3,570,003,632

I admits that there may be 144,000,010.00G

4216- 31⁄2 would very shortly announce the an economie Justification for

is exteñzien to her of transferable 127,000,000,000 protection, of whatever kind, on

infant industries" the

But the experience of the tin

Untied Press, 401,076,004,057

argument

dnd rubber. market, where

✓ SINGAPORE MARKETE pre- 1.706,720,700.340ha new firms should be

American stockpiling, purchases tected while they pass through an have been suspended in order

Singapore, Aug. 30.. 1349.000221aitial period of high casts, pro- la force down prices, has been leday as follows

Prices of rubber futures clcred vided that their costs may be ex- {sceted

warning to other raw Number 1 rubber, become competitive in 10

material, producers whose re- the future. But the proviso is cent high carnings have been

per ib. August September largely due to the fantastically high level of American dum mand.agen

-United Press.

Grain Prices importants.

In

Chicago

Chlepgo, Aug. 31. wheat futures closed today unchanged to 1 lower. Prices closed as follows:-

Wheat price per bushel. September

Spot

December March (1952).

May

10

Corn Spol Heptember December

March. (1953), May

Bye

July

Beptember

BOTTLENECK IN- SHIPPING

Ottawa, Aug. 30. Canada today appointed Mr. Roy Milner as Transport Con- break the troller in an effort

Great Lakes' shipping ""bottic-" nock which threatens to delay the delivery of this your's record 682,000-bushel wheat crop

CAUTION

The

t

*

FIVE-YEAR

PLAN FOR

EUROPE

The European

Paris, Aug. 30. [Orgarijiation of Economid --Co- operation announced today a bold five-year plan to in- crease, mefibers (agricul- tural and industrial pro- duction 25 per cont.

'Germany's intention to accept

Pointing to the 24 per cem. them was gazeşted in Bonn as production increția, Achieved In ng ago as April 12, member nations in the past Since then it has merely re- Council inid dawna six-point three years, the 18 - nation format letter which

14015-11735 | quired

evidently has at lost arrivet from programme The

German

to the British authorities.

pinn

electricity a aroused cont

Recently rumours were 1501-13719 that some American authorities

An stockpiles are "completed,

October Number x rubber.

August. Number a robber.

August Namber. 4

141 -167

142-143

*August

unbated

paid crops.

00: The palletes governing the groundou: scheme show how easily acvern- a large demand will be with Spot rubber.

drawn and prices will begin to ignore drop, unless this demand 18 Black crepe ment-promoted bodies: the long-term economic argu- replaced as it may well be

memts in favour of Immediate by private and Government do- problems which may have large mand as armament programmes ly disappeared before their plans gather momentum. The raw come to frutica. The possibility material outlook is 2.3811⁄2-35-

clouded that the Pound may one day be with uncertainties, and di will 2.4322

valued upwards should, enforce be greatly to their credit if the 2400

very great cauilon on those res Commonwealth Ministers orc acrrible for

speciile able to make an accurate fone- 1819 1.34-1.931% dollar-saving

cast of future prospects 12014-36

1.71%

133 -132

147}%=X6B}}

110 -ui 160-173 United Press.

LONDON TIN MARKET

London, Aug 30, The Un market was easier to=" resen: pound-dollar ex

|_ DOLLAR, EXPORTS- The presen change rate has stimulated the

Say. Turnover was small A Political and Economie Plan: Prices elsard at the end of the development of alternative

another offelet ning also ́ ́ questions': the

morning session ga 1911 bia sources of nipply within

bffcilewat generally accepted aspect Sterling Area. But P.E.P.

PP. Argues that provides a "natural" in British economic policy the Spot it, buyers dellar export drive, which, nusiness done at It|Spot Lin, sellers only where there says, may prove neither pro Three-months Br which are strictly limited. The table nor economie In The same rigorous selection might be long run

foster policy of Impared when new production is "The official promoted by more "artificial ing dollar exports at the ex- Battlement means, but it is loss likely, jo pense of exports to the Sterlin

Arent says, has only ros

Qxis July

Norw York Four-per.; 200 Back, $13.35 United Press,

September

JAP CELLULOID

FOR PAKISTAN,

• Of "producing at conts |

930

啡

buyark Three-months in.

#clic Dualneas done at

Press,

Exchange Rates

Tokyo, Augi: 30. The refinery would be able

The Prst shipment of collu- PEP. afgument prems to be cently been questioned in off- to supply about two-thirds of

bidancets to Pakistan will be bored,en,sa egymplon chalf cial quarters, and was accept- Indin's estimated needs of three

Mr Milner will have power million times of petroleum pro to break contracts and re-direct made soon, by the Guyo Trad- the development chew sources ed by Mr Galiskell as lata n ducts yearly. Most of the oil traffer on waterways and rail-

Ing. Company," ThơṇCompany / of raw materials in the Common-finst June STATA DALAMITONI SVA has just concluded a contract wealth were sound finado al "But, it is burely obvious |Busigtegi tamn done in the local would be imparted as the off way lines. He is the first, man

to export: 60 kilograms of col-

private that It le qually useful thunonicle exchange, mined in Azam is already being to hold the position) in peace Intold sheets to Pakistan:

aawith; inzening at the following gater refined in Instin's only refinery time. Those

have::newspo/upply the Sterling

Bierling kote (por £1) disobeying his at Digbol, in Assam.

waims Buy from Britain

the indonesia sulders (per, 100)

1 Hingapore (Biraita)

and

PHOT.C

True, but if G"

Any goods it was bred to 19%, Poftum (par. 51} /

orders will be liable to, punish-Nippon Calluloid Company, this (rapp')

og Care expected on that culture to suggestehet, the government warns lil to export that Bamaticalist per 100) But picspecting for /olliment Beuter. going on in other parts of India • ***

shipments, tos include čeliliiäia.f F-United | Would be foole3što beziden Assäin s

Press

The Govannhans

in maling

deving

the

Experts For PI

may efi'the Comniënwealth Stounities fo

today almod World Bank Meeting Pa

Nonfagreement with UNESCO,

under which two JIN, Hor will como to. Shà,inland) to In theɑdeval

In where | force

15 treads to Amer

for

Dumbani KIC, plastrog:(pog: 1001--

dollar shoric

thai Am

• jüve-year The alma Wero: To

overcome shorfages ‘of

and steelkl To strengthen defencer. 3. To Increase agricultural production.

were opposing the move, Laus- peeting that anything connected with Sterling exchange control

have some sort of blipteral programmes..

4.To Jaunch now housing

foundation for the 5. To cut

unemployment. sumeurs was known in London, which totals two million. Membership of the transferable Italy, and one million In azama Sterling exchange Western Germany, entrek but the relaxation of one. -Reute

Conference On German Debts

0. To curb indationary price. rlees, which Jeopardize the ex- pansion of production-United

BUILDING IN BAN AMERICA

·New.

York Aug 31 Industrial bulding contract. awards reported in the week-

La Londen, Augờ:30) The foal.conference of about 23. hatibak on, Germany's exa ternal debty will now be held in endel Monday, topped all other London in October und, notypes of ponstruction with va total or $88,200,000/ Engineering September as-originally

News Record- anid on Thursday. according to usually reliable However the overall

here today,

AMMERN Was only $267,881,000 or This source ‘said that,

fourco

д

bad-yet been fixed-foljek Maskijimeekite dato this yelp conference, which will work out

in private housing mmercial constructi

this

a forinula for an internntjónal agreement on Cermany's ex-

debts 10:22 tornalt

The three-week rect 20.01 minary.conférence

tripart

rolte

tho

1.770

can,

·ronist

concluded In

unders

en bor:

jjoned

cand