1951-09-05 — Page 9

Page

MESSAGERIES

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For

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*PLA MARSEILLAISE” ..Oct. 20 {"OYONNAX"

...tree. 23 Oct. 25 N. Africa & Europe subject to change without notice.

•

passengers & freight

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

CIE DES MESSAGERIES MARITIMES P.O. Box 63, Höngkong

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

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

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ARRIVALS FROM U.S.A.

Sept. 6

Sept. 14 Sept. 29

Sept. 14. Sept. 26 Oct. 20

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

UNION ALLEGATION

Tel. Nos. 36066-9.

European Cartels

Re-created

With

ERP Assistance

Blackpool, Sept. 4.

An American trade union leader said here today that the Marshall Plan had helped re-create the cartels of Western Europe to the detriment of the working people. -

JAPANESE

TRADE

af

Mr Charles J. McGowan, fraternal delegate from the American Federation Labour, told the Trades Union Congress' annual meeting that Uus was not what American labour had expected when it poid higher taxes.

WITH INDIA supported the Marshall

to

"Labour in the United States Plan, with everything we had. thinking that we were not only economy pl revitalising the

that. wo were Europe but opening the door to the advance- ment of wage earners," he sak.

Tokyo, Sept. 4. Prospects of trade. be- tween Japan and India are most promising, according

Mr McGowan added: "Re- Miratsuka, Yasuaki Japanese member of anctionaries stood on the door of Congress and repeatedly alleged joint United States

that our taxes were going to Japanese investigation further social nationalisation In

re: Englant who has just team

tour of turned from.... a South-East Asia,

"The truth of the matter 19 that our taxes have Rone to re-create the cartels of Western Europe to the Cetriment of the working people."

Mr Miratsika was quoted by the Kycle news agency as saying that India had surplus iron ore for export and was interested in Japanese supplies of rail freight sident locomotives and other cars, transport equipment.

India could start exports Japan if Japanese refinery equip ment was made available, he said,

Mr Mitalsuka said that Burma wanted Japanese help in develop- ing new kad and zine mines.

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 5, 1951.

Britain High Cost Of Living 9. Lue

May Cu!

Dollar Imports

London, Sept. 4.'

Britain, facing serious. difficulties in world trade, may soon have to deelde j = new cuts in dollar imports,

This was learned, from In- formed quarters tonight as the the Exchequer, Chancellor of Mr. Hugh Gait kell, flew from London for the International Monetary Fund

and Work Bank meetings at Washington.

sterling

In Canada Leading

To Political Storm

Ottawa, Sept. 4

ROYAL

Ďale

In Port

sch Bapt.

tie pl,

2irt 'Repi."

Brut Bet

7th Sept. 6th Oct.

A major political storm is brewing in Canada over the high cost of living. There are plenty of signs that the Liberal Government, in power since 1935, will be fighting for its life when Parliament opens on October 9.

Political commentators here are already referring to it as the forthc coming "Battle of the Bulge" the bulge being in the cost-of-living index.

The dollar surplus of the Many people belleve the fate of the Govern-

area slumped from $380 million in the first quarment in the next election depends on what success ter of 1951 to $54 million in the it has in coping with the Inder's apparently in

second quarter, and is expected

to

become a serious deficit in exorable advance. the current quarter.

Moreover, the first instal ment of repayment and interest on the American loan of $8,750 million is due at the end of this year.

taxes.

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning Was prices and the morning's trans- actions: SHARES BUYERS SELLERS ŠALEB

DANKS

Noon

The Government has con The situation, it is learned, sistently resisted a growing de is causing the Government the concern and some mand for price controls, claim-keenest

of the Cabinet Dre ing that they would not work. members Instead, it has sought to punc-advising yielding to, the clamour It amounts to about $120 ture the inflationary balloon by for price controls; even against million, and is a subject that imposing higher interest rates, the Government's previous de-

policy. Mr Gaitskell in likely to discredit restrictions and, heavier clared

That is u ticklish decision. cuss in Washington-Reuter.

It the Government decides on EMPIRE MEETING

"Too many dollars chasing too price controls, It,will be assailed valued at $652,025.00. 4. Ottawa, Sept.

Low goods" has been

the for not taking action years ago. The

queglion of Common-Government's diagnosis of the If it refuses, the fat will be in wealth Sterling

ATC restric-

Inflationary situation, which has the fire and the biggest Parlin tions against trade with dollar

mentary been badly undermined by the me would be re-fect that there are now more 20 years will ensue,

flare-up in the fast area countries opened at a meeting Commonwealth Finance Minis-goods than ever in the shops be-

cause people cannot afford tere in London next January,

buy. the Canadian Press learned to- day.

From "February to July this The whole field of general year, the Government's official

relations cost-of-living index has Anancial trade and between various member coun- from 175:2 to 187.0 (1039 equal-

would tric:

probably covered.

Particular attention was ex pected

be given to the question of a relaxation of the sterling area restrictions against dollar area trade--Reuter,

to

of the

NY Cotton

Futures

10

rlsen

A great many people believe that the Liberal Party's future is hanging in the balance.- Reuter.

beling 100). After every monthly EXCHANGES

New York, Sept. 4. Prices of cotton futures closed today as follows: December

March (1952)

May

July

October

December

34.31-34.22

NEW ORLEANS MARKET

34,41 34,40

31.90

2296

37.82 blu

October December

March (1952)

May

United Pre

34.79 34.22-34.99 34.41-34.42 34.41 33.09 bid

United Press.

Juty

LONDON TIN MARKET

London, Sepi. 4. The tin market opened quie.-

cash

ly this morning. Turnover was 15 ouns, Including 15 tons for Prices' closed at the end of the offlain? morning session as follows:-

Three-months Business done at Settlement

Spot tin. buyers Spot tin, sellers Business done at

Three-months

11:1, tin,

0472

950 805 Buyers ellers 29715

000-595 050 -United Press,

Dockers'

Irish

murling.

Decision

of

IN NY

Government rise,

spokesmer announced have optimistically that the peak has been reached. But every new publication the monthly index has reveale a higher level.

Food, the indispensable item in every family budget, has risen 25.3 points since February. Despite wage increases, there is no doubt that inst Catholic families are not eating as weil as they were two years ago.

The greatest food Increases have occurred in such staple commodities as mcat, milk. eggs, fresh fruit and vegetables. PRIME TOPIC

New York, Sept. 4.

US$ 0.04%

Canada (dollar) England.official ***"unofficial

J

30-day futures 90-day futures Australia (pound) New Zealand

(pound)

South Africa (pound)

Belgium (franc)

Denmark (krone) France (frane) West German

Norway (krone)

Middle East Egypt (pound) Iran (rik) Iraq (dinar} Turkey (lea)

2.79-15/16 2.48bid/

2.0 arked 2.50-1/10

-0340

HK Bank

+

1545

INSURANCES

East Asia..

Union Underwritera HK F DOCKS, ETC. K. Witarf

19th Sagt.

12th Rept,

12th Repl

23:0 Repl

28th Repí.

jel Get. 9th Oct, 13th Oct.

Date

4th Sept.

17th Sept. 27th Sept.

18th еля

9th Sept

Sept. Верв

20 1330

41350

20 3350

120

770

30 @ 770

02.0

4.10

135

500 515

N. P. Whart 5.35

14.75 15.10 Provident .. 12

Wheelock LAND, ETC.

HK Hot..

+

6.00

1.15

HK Land

S'hai Land

Humphreya 10%

UTILFIXES

Tram XD... 14.10 Peak Tram

(0) 10% 101

Star Ferry

600 14.20

500 1214 1000 125

500 68 1919

100 @ 6

0, 1000 A

500 48 100044

200 ♫ 10123

200 m 20

41 331

2,80-11/18 22311

2.79%

C. Light. (0) 7.70 7.90

500 m 100,

1500 W 7.00

2.801

300

01991

500, 7.50

1455

.0025

e. Light IN) 4.05

5 2000 4.85

2000 63 · 4.90

Dentchemark

4.20

< Light (B) 7%

3000 7.53

Holland (guilder).". Italy.emciat

2030

1000 * 7,50

110034

5000 € 7.30

1000 1.00

.1403

100 T 7.35

.0265

Electrte XD. 1314 8934 1100' 33

.0935

2200 ár 33%

2402

100 2311⁄2

1000. 3015

2.08!

£125

2.01

Telephuric INDUSTRIALS”

1212

13

Cement

.6375

1000 134

Lain America

23001

Argentino-official Brazil (cruzeiro) Bolivia boliviano)

.0718

3550

do

0130

Rob

1741824

4025

STORES. ETC.

1.00

Dairy

1269

.0000

.4125

2003

Far East

.2102

2030

3750

.3040

3395

to USI

The cost-of-living Index is no

Portugal (escudo) longer a mere mathematical · Spain -(pesētu) formula for. economista and | Sweden". (krone) statisticians. It is the prime Switzerlarid-free

tha conversation in topic of coffee houses, on the trams and at public meetings.

Korea and the Kremlin aro secondary problems as Canadian families grapple with the prob- lem of making ends mest.

Political

Chile-free commentators hesitate

Columbia (peso) to escribe

Cuba (peso) defeat of the Government

Mexico (peso) in four recent by-elections Peru-free three of them were traditionally Uruguay (pes)

Venezuela (bollvar) Liberal seats to public re- sentment over high prices. This

not

the

Liberals has galvanised Opposi- Hongkong unprecedented setback for the Pakistan rupee). tion parties into action and the Netherland

East Indle in Singapore' hammering has now begun earnest.

Japan

G

Normal summer holiday quiet has been broken by what amounts to virtual election campaign, Government speakers are touring the country to offer The defenco that the rise in living costs is due to world conditions and beyond Canada's power to stop.

300 yen

Income Tax

Exemption

Ship

INTEROCEAN

*TJIWANOT"-

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From

LINES

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→TJIKAMPER" - “TEGELBERO”

-

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Singapore, S. Africa & §. America Singapore, Penang-&-Helawan Dell

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Japan Porta

Agents: HOLLAND EAST ASIA LINE

Skip

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*HOOGKERK"

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ARRIVALS

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SAILINGS

To

Japan via Manila Mantis, Singapore "A Europa Manila, Singapore & Europe.

8%KING'S = BUILDINCESSFULİPHONESTE SÁDIA TO 2017.

FÖRINGSTELAGENESTRI, CONNÁLGUY RÐAÐIG. 115, HM, path

BEN LINE

1000 7.90

7.30

332 1500, 13:2

1000 13.10

1000 13.10 1500 or 13.10

10% 1614 2000 G 10%

500 10

·500 @ 1814

FAST SERVICE TO UNITED KINGDOM

AND CONTINENT

BY

S.S. “BENALDER“

LOADING HONGKONG 7th SEPTEMBER

DIRECT FOR SINGAPORE

THENCE

"LIVERPOOL, DUBLIN, HAMBURG,

AND ANTWERP,

*

W.R. LOXLEY & CO., (CHINA) LTD.

Tel. 34165 & 88710.

S. A. C.

1. Crawford 24

Watson

*** 1016

COTTONS

20

300 101

400 1014

"ats 1001 62.40

York Building."

The Rubber

Markets

London, Sept. 4..

Prices of rubber futures eidsge

4534-463

4574-76

1422-47

April/Jung

4312-44

today as follows New Delhi, Sept. 4. Opposition speakers are mak

The Government of India has Number 1 rubber, in conts

per lb. ing the most of the situation in attack. Mr George Drew, the decided to exempt from income geber

tax the pensions of retired November leader of the Progressive Con-officers of the Secretary of State Beermber Dublin, Sept. 4. Dockers at a mass meeting servatives, who swept the last services and high court judges tuber/December

4012-14 here today decided to join the four by-elections, is accusing who are now living permanently priarch (1952)

the Government of a fatal "do- outside India but were in ser-

United Press... SINGAPORE MARKET Irish scamen's strike unless the dispute was ended by Saturday nothing" polley in time of crisis, vice after the now Indian con

Singapore, Sept. §. 1. stitution had come into force on 'CONTROLS ASKED

Prices of rubber futures closed. Their decision has been ap-

January 20 last year.

A Finance Ministry com today as follows:- proved by the Union Executive. Although the Progressive

dockers would Conservative Party is the tradi-munique today said the Gov- Number 1 rubber, per 19. Almost 1,000

decision followed September

October be involved in a strike and the tional champion of free enter-ernment's

liberal interpretation of cer- priso and business port would be paralysed.

Mrtain articles in the Indian con- The seamen's strike began Government

stitution, assuring, these officers when a Inbour court recom-Drew is touring the Liberal mended wage increase

of cervice 9/4d. a week. The Union had wked for 23/0d-Reuter.

a

without

restrictions,

Havenber

Number

*

rubber,

4

rubber,

rubber.

September

September

of stronghold of Quebec demanding and Judges the same conditions Number 3

Bs: before thought Number

International New York Sugar

Mr McGowan, who is Pre-

of the Brotherhood of Boiler-makers, Iron Shipbuilders and Helpers of America, said that he would raise this question at the forti coming American Federation of Labour Convention 教 Son Francisco.

TRADE WITII REDS

Futures

price controls on essentials. there is no speelfle mention of Mr M. J. Coldwell, the leader exemption of pensions from in-

the Socialist Co-operative come lax in these. Commonwealth Federation,

of

13

telling his meetings that Gov-Router.

ernment inaction will allow the cost-of-living index to go to 200

articles.

September

not rubber, unhaled

Tlack": crepe No. 1 pale crepe

end of the year, causing U.N. Economic Exchange

widespread suffering

among

New York, Sept. 4.

closed World, sugar futures

2 to 7 points higher, today with sales toalling 78 contracts, ers whose allowances are geat-

Prices closed today as follows:+ ed to 1932. price levels ate January(1052)

March May July September

Spal

5.45 traded

5.4 nominal 5.06. United PTON),

In Industrial policies, he said, the Briikh and American or ganisations were not far apart Japan will import US$9,000,000 but in the political fickt there irs worth of machines under the now were substantial differences

trade their methods, .. Germany Jopan-West agreement, according to the Mr McGowan appealed to Japaness International Trade and Britain to stop all trading with the enemy" so far as was Industry Ministry.

reasonably possible. This would restore the solidarity of feeling of the American people,

In the United States, he said, authorimtion totalling they were somewhat disturbed 200,000 tor

low-income families,

Military andy!

elvilian pension-

ad

140 -130 -1476-148 145 -145

14415-16555

139-140

130 135 14092-15015 1-113

* 166_ -173.

United Press,

Rates

Every TUESDAY is SAC DAY to BANGKOK and DIRECT FLIGHT to RANCOON BANGKOK/PENANG & SINGAPORE ON WEDNESDAY, BANGKOK/RANGOON & CALCUTTA ON THURSDAY BANGKOK/SAICON ON FRIDAY

For full particulars, please apply:

General Agents:;

SOUTH EAST ASIA TRADING CO., (SIAM) LTD.

69 Connaught Road, West.

Peninsula Hotel, Kowloori.

Booking Agents,

Tel: 56416

AUW.PIT SENG'S TRADING CO. LTD.

10, Pedder Street, Tel: 26733

Council

Gènova, Sept. 4..

Busters was done in the, looit unoffeli exchango market 3719 morning at the following rhien:-*

19.00 Sterling note (per 1) 'U.S. Dollars (per #1)

0.01

3.10

$20.00

1.170

340 Queen's Road, West, Tel: 36204

12280

SAD nomina mittedly suffering considerable Mr T. T. Krishnamachari Indonesia vuliders (per 100).

Eingapore (Birslin) 6.3 nominal hardship, Thousands who have (thelay was today unanimously glam tenis (per 100) 545 nominal retired on modest Axed-income clected acting chairman of the pic piastres (por 100)

Economic Committee of the annullies oro in dire straits,

Labour unions are gearing for United Nations Economie and new rounds of wngo boosts to Social Council.

and WesterT! Both Eastern meet

the present

conditions,

the 18-nation. on that these delegates Funds For Formosa Manufacturers, claim

aigher | Council

supported Mr. Kr do nothing but bring Talpo, Sept: 4.

candidaturs and Econcrilc Co-operation costs and prices pre-paid tributes to the role he has The

All across Canada the pala Administrations: Headquarters

Council's pro- has issued a new procurement sure is tightening and the ter- played in

ald for Felon' rising.. `No, one profesoda toʻ coodingston AN ADULT

Mr Krishnamachari replaces Mri Gaston Byskens (Belgium) who la temporarily absent

from: Geneva,Router.

cni

BOO the end or predict the even

This will be one third of the 1otal volume of goods to be -imported from West Germany under the trade agforment which

that while the Americans were against the July and August tunt outcome, was elgriest on August 3.

Trade with West Germany in oren 10,000 casualties in Intenim allocations, the DCA the United Kingdon and China Mission announced today,

4

expected to show -o favmurable name

of her allies were ill heuter, though LONGER TILBYK balance. A large volume of tex- trading with the People's Gov

Itile goods and whale all is to be ement of China in critical war Copper Strike Move

median materialNeuter, babaangen

shipped by opens a

Included in the imports will be

•Machiner-engined."

duction of rubber a dude, New York Bers

ptical tristro Coprá

BTWOKLISII, DECISION.

Adding to the Government's blem tho' duct, that the inco i Minister, Mr Abbait, a surplus of only

(the) firak

"ind

CHIANG HUAT HONG

Pacific Far East Line, Inc.

Fast Rogular Trans-Pacific Servico

RLAND NEW YORK CÚICAGO DETNOIT 'MONTREAL”, AND: ALL AMERICAN & DA

DISSOT

BAN FRANCISCO, Log andrLES

Vessel HJACOB LUCRENAKTIS

Manila

Chicago Grains Up

ing, by