1951-09-06 — Page 9

Page

THE CHINA MAIL, THURSDAY, SEPTEMBER 6, 1951.

MESSAGERIES MARITIMES DANGERS OF

M

"MAGELLAN**

Artising

.kapt.

*"LA MARSEILLAISE”..Oct. 20

Y

Leaving

M

Marseilles

Fot

N.. Africa & Eutopi Kobe 4 Yokohama N. Africa & Europe

**FELIX ROUSSEL"

....Sept. 14

*"MEINAM"

.Sept. re

"OYONNAX"

Rept. 13 Rept, 27 Oct. 21 ..Ort. 23 Oct. 25 subject to change without notice.

passengers & freight

† 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. 26651 (3 lines).

Colombo Aid Plan

INFLATION

Warning By Secretary-General Of UN

Encroachment Of

Of Armament Plan On Living Standards

India's Trade

Position

New Delhi, Sept. 5. India's favourable irade balance in regard to both the dollar and sterling Areas was revealed· In Parliament on Wednesday.

and

The Commerce Minister disclosed that Indian ex- porta to the dollar ares. during the half year ended June approximated 980,000-

impor 000 rupees 940,000,000 rupees. India's

to

sterling area exports the during the same period were approximately 1,980,- 000,000 rupees and imports 1,290,000,000 rupees, United Pres.

New York, Sept. 5.

Pago

R. I. L.

ROYAL INTEROCEAN. LINES

Date

In Pert 17th Sept.

tech dept

Mr Trygve Lie, Secretary-General of the United Nations, warned m 3th Det today that when the full impact of the war in Korea and rearmament made it off. itself felt on world economy, it might result in serious inflation.

In his antiual report to the General Assembly published today he Itth. Sopi. said that it was the general view that by performing its duty in accordance with the Charter, the United Nations had emerged with added stature ara spat from the test it had to face in 1950, World peace had been strengthened.. in o

Mr. Lic thought that it should be noted that

a section of the American public complained that

the United States had had to shoulder a dispropor- HONGKONG

tionate burden in Korea.

"The result has been tain Impatience

a cor-

May Be Reviewed MIXED DAY spallero with the Unit

Early Next Year

London, Sept. 5.

The progress and prospects of the £1,868 million Colombo Plan for economic development of South and South-East Asia may be reviewed in reliable London next January, according to source here today.

The British Government is understood to have made tentative enquiries from the other interested and Commonwealth Governments about whether it would be possible for their Finance Ministers or representatives to meet here in January to discuss the six-year Colombo Plan.

The source disclosed that noi dates for the suggested meeting had yel been fixed, but he said of the governments thpt some had already spproved the idea.

Replies from the others were being awaited.

Include

re-

Seizure Of Germany's Assets

IN NY COTTON

New York, Sept. 5. Cotton traders crowded all of the boy's action into opening and closing dealings. In flattened out with between that time, the market business standstill ut Prices coming

at the close, frequent long intervals.

nishing at the best levels after a shaky stars pushed values into

to B

rallied smartly

.1

the lowest levels in a month.

Short covering competed

interests for with inde reduced volume of offerings at the finish. Outside speculative interest, however, was limited. The Government' weekly crop mixed. summary report was The poor progress in Texas was offset by the favourable con- ditions in the main cotton belt. The market opened off 2 to up 2 points. It cased irregularly to losses of 2 to point. Then firmed at the close moving up 12 points from lows to close off 1 to up 4 points,

If the idea is agreed to by all the interested governments, their Finance Ministers or presentatives will meet here as of the Consultative membera

of the Colombo Plan. Committed States is

Tepic- The

Bonn, Sept. 5. sented on the

Consultative The Western occupation Other Committee.

members

on Wednesday non - Commonwealth Powers countries in South and South- killed German hopes East Asin which are participat- regaining control of

$2,000,000,000 May ing in the plan in an advisory estimated capacity.

worth of former German said that the The source

foreign

by pro- assets

law meeting was necessitated by

1.

which world

economic and financial claiming

since the Ministerial makes final the seizure of

the

Consultative such property for repara- of

London in

tion..

changes BLESION Committee

in

September, 1950.

The Committee last met on

34.24-34.80 34.30-34.33 24.42-34.44

34.39

of

Prices closed as follows;--

13.03 Spot October

December

an

October

March (1052)

July

December

Chancellor Konrad Adenauer an official level in Colombo in and other officials of the Bonn February.

SECRET SESSION

the

They

34.00

12.17

12.84

Urted Press,

NEW ORLEANS MARKET

Spot..

October

December

March (1052)

May

July

October

Government-thus-lost-their-long-December- running battle to get the assets back in German hands.

to offset the The Commonwealth countries hoped to use them

Rome $4,000,000,000 on the Consulta-burden of represented alve Committee are Australia, in external debts for which the West German regime. has as- Canadu, Ceylon, Indin, New

sumed responsibility, and. Pakistan Zeeland, United Kingdom.

South Africa does not parti- cipate in the Colombo Plan.

The September meeting in London was also attended by delegates from Cambodia, Laos, Thailand

The Allied High Commission announcement pointed out that the new legislation modernises and reinforces. the 1945 law.

Allied Control Council. That

የም

und

Vicinum, and

Burma from observers Indonesia.

owner asserling any right

from Ceylon, the India, Pakistan,

making any claim to Federation of Malaya, Singa-

such property. A study of the that it pore and British North Borneo new law will show and Sarawak technically put does not impose any new or their programmes, under the additional burden

upon Ger- Plan, into

on July 1.

muny, nor does it take any new properly, or Jeopardise Germany's. emerging reignty."

Both

Theth Finance measures directed against Ge

man

4.

of

בבטן

13.00 34.25-34.21 34.24-34.25

34.40 bid 23.04 bid 32.03

32,70, hid -United Press,

London Stock

ed Nations in some quarters of de United States," he declared..

There had also been Bome criticism in Western Europe, Particularly on measures adopt- ed with regard to the Commun- Ist Government in China.

"Nevertheless it remains truc the whole the United Nations' action in Koren hos been regaided by the majority ef people in most of the member States as being both necessary

that on

the

EXCHANGES

IN NY

Canada (dollar) England-official

ungficial

SHARE MARKET

(From Our Correspondent)

Business

New York, Sept. 5,

done on the Stock US OH-11/to

this morning WBS 2.70-15/16 Exchange 247 b/ valued at $907,084. Noon 2.80 Baked prices and the morning's trans- 2.30-1710

actions:-

30-day futures "DO-day futures Australia (pound) New Zealand

(pound) South Africa

(pound)

Belgium (trano) Denmark (krone) France (tranc) West German Deutchmark Holland (guilder)

italicist Norway (krona) Portugal (escudo) Spain (pere la)

and useful and as marking a turning point in the Organisa- tlon's history." Mr Lle sald.

The outbreak of hostilities in 1850, and the Korea in June,

snnouncements by they subsequent Intended to make considerable many Governments that increases in their defence ex penditures introduced into world economic outlook entirely new elements, the full impact Switzerland-free of which has yet to be felt.

"While the extent to which Feypt (pound) these programmes have mani-tran (ral)

Turkey tira) tested themselves in actual ex-

Latin America penditures by Governments re-

limited thus Argentine molat mains relatively

up) Brazil (cruzeiro)

Bolivian (boliviano) Chite-free Columbia (peso)

far, the rise in the prices of all types of goods, especially of primary products, has now be exert a profound in gun to

both upon national fluence

upon interna economies and ional economic relations.

BASIC PROBLEM........ "The basic economic problem of the period ahead is to contain the inflationary pressures result- ng from the great demands upon he world productive resources generated by the new rearma- nen!

programmes and to limit the encroachment of these

pro- #rammes upon the standards of living of the peoples of the world.

on

not

cannot imprindustrial

are

with

Sweden (krano)

(dinar)

SHARES DUYERS BELLENS SALES BANKS

HK Bank .. 1540 1550 GO GA 1830

INSURANCES

Unlon ...

760- Underwriters 410

135

10 1643

12350

Det

15th Oct.

·Data

Tu Port 17th Sept. 77th Ropt.

10th Sept.

Rept and sept.

ARRIVALS

Ship

"TJIWANGI. "STRAAT, SOENDA"

KVAN TEUTSZ" "THISADANE”.

TAIMAN "TJITJALENGKA” "VAN BEUTSZ"

· "TJIKANPERS "TEGELBERO"

From

Macarkar, Java Ports & Blogadore K. Ametien, 8. Africa, Singapore

Manila

Stralis & Betawan Bali Japan

Bilawan Dell, Penang & Singaporə Muessine, Jaya Ports & Singapore Janin

· A. Africa & Singapore

B..America. B. Africa, Bingapore.

DTRAILS.

SAILINGS

The

Aingapore, Java Poris & Macassar

**T JIWANGI" "STRAAT JOENDA” Japan Parts -

··*VAN-JEUT87"--- Japan- Poria -

#TJISADANE"" "VAN KEUT 877. "TJITJALENGKA“ *TJIKAMPEK” "TKOELDERO"

Hinkapócs, B.-Africa & 5`Amérlen Singapore, Penang & Belawan Dell - Singapore, Java Ports & Machssar

Japan Ports Japan" Porta

Agents: HOLLAND, EAST ASIA LINI

Rhip

*NOOOKERE” "ALMKERK” "HOOGKERK"

"HOOGEREK SE ** "ALMKERE” "HOOGKENK"

KING'S. BEILDING.

ARRIVALS

From

Enrapa & Singapore Japan Japan..

SAILINGS

То

Japan via Manita Manila, Singapore & Europe Manila, Singapore & Europe

TELEPRONES:... 280167-TA-LAAIT

2.50-11/10) 123

2.70%

2.8014

0199

1455

East Asia

..002536

4.20

1500 @ 4.10

2630

BK Fire-

$100

DOCKS, ETC.

.1405

K. Where

.. DOL

92 1300

0340

OZS

N. T. Wharf 650 612

,003S

Dock. ***... 14.80 13

500

1000

2300

700

Middle East

Provident 1234

2,53ja

1000

03124

600

2.31

5373

Wheelock #75%

LAND, ETC.

Hotel

0.25 0.40, 4500)

500

.0330

1000

800

.3165

HK Land,.. Humphreys

40

1014

200 13 4036

UTILITIES

4135

Tram XD.. 14.00

2008

P. Tram

P. Train (0) 19%

2112

Star Ferry

BT

DINO

C. Light (0)

7.85 1000 7.80

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

.1765

3040

M.S. "PETER MAERSK”.

M.B. "NICOLINE MAERSK” M.S. "SALLY MAERSK”

Cuba (peső) Mexico (peso) Peru-free Uruguay (peso) Venezuela (ballvar)

Far East

india Crupen) - Pakistan rupee) Hongkong Notherland

East Indies Singapore Japan

Intere

3301

300 yen

to US$

-United Prosi.

Air Fares May Be Increased

fare

...

C. Light (N) 4.80 4.95

C. Light (B) 75

Electric

Telephone

2300 14.50 200 @ 14.10

XD 13 1000

IND SATRIALA

Cenwend.... 1317

Rope STORES, ETC.

Dairy!

Waston

branch

The

D3

€200

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, TÍS

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

ARRIVALS FROM U.S.A.

Sept. 8

Sept. 14

Sept. 29

Bapt. 14

Sept. 20

Oct. 20

2001.40 For Freight and Further Particulara please apply to:

1500 6) 13IS

1700101

1:00 200

AGENTS:

JEBSEN & CO.

4400 @ 1314

1716 1014

(101

101%

1000 10.75

-700 @@• V7-

20

2300 A 20.

-Peddor-Building:-

110047 20

209 @ 14

2.45

200'de 2012

Rubber

Markets

4074-4734

4524-40

4314-44-

The hoovy demands in the 4.42-34.43 United States of America for foreign goods has been reflected. in further increases in the gold 2nd dollar asects of other coun

indicating in return toward EXPORT LICENCES

balance in the foreign transe ons sf countries hitherio

New York; Sept. 5. La Crawford *** Washington, Sept. 5.

suffering from a steady pressure

Trans-Atlantic

nir passenger COTTONS The Commerce Department

their balances

payments. fares and freight rates will go up reported that inday

""But export

these achievements on October 1 if a new agree- licences covering 313,376 bales

should

be mistaken for ment of the International Air of cotton were Issued from insting improvement in

Transport Association is ap- August 20 through September national economic relations. proved

by the The indications are that with 773,- This compares

the cerned, the Association's Con. 417 balus licensed during the recent

is tem

announced here. two weeks.

The porary.

nations They will be the came passed by four-power preceding quantity

the

licensed

bound to be affected the those recommended by the joint law, the announcement recalled, during the past two weeks, 31 increased burden of armaments meeting of. I.A.TA. traffic con-1

for shipment to and nasociated inflationary ferences at Bermuda in May, and "prohibited a former German per cent

man the United Kingdom, 104,890 pressures and by the deteriora- but omiiting a 17-day excursion

London, Sept. 5. bales; Japan, 62.104; Germany, tion in their terms of trade."

during the first Virce 'Prices of rubber futures closed BACKWARD NATIONS months of 1952.

today as follows: 28,838; Indis, 23,100; France,

Dealing 21,834 and Spain 131,178.-

tho special

The basic trans-Atlantic tare Number 1 rubber, in cents

per ib. of United Press.

under-developed will be $385 for the one-way October question territories, Mr Lie said, "One flight between New York and November of the greatest problems facing London with variations for December the United Nations in the flights between other trans-October/December

January/March (1937) coonomie

and social field is Atlantic points.

AUTH/June Brithh Overseas Airways the vast and steady increas

There will discrepancy ing

between how charges $375, atrndards

round-trip, of living in the be provision for

off-season and other discounts. anch politicians

the

highly

----Reuter. developed countries and in the Fress bitterly criticised what

under-developed" they referred to as "belated confiscation.”

The London Stock Exchange people of which comprise some Snapping back against this was quiet but firm on Wednes- two-thirds the day before,. speech, A considerable misunderstand day.

Number à rubber, Chancellor of being," the

Commission by the

September long

New York, Sept. 3. Number 4 rubber, tatement stressed that under Exchequer, Mr Hugh Gaitskell, stantial past year has seen sub.

pro-Organisation toward .a warning that the arms

September World suger futures closed the long-standing Allied re-

Black crepe parations agreements "in point gramme will pose, new grave term solution of this problem."

A further development of today unchanged to lower, Spot rubber, unbaled economic problems for Britain

#25 a Gaman owner was

had with sales totalling con- No. 1 palo crepo. of

in outstanding significance ronewed interest deprived of his properly a long

boen

by the adoption

the tracts,

Contract No. 8 closed 6 to 7 The Commonwealth Finance time ago as a result of action foreign stocks..

Canadian Issues ware es Economic and Social Council of

lower, with sales, totalling 80 Ministers agreed in July, 1949, of foreign countries.United

A Very

resolution on extensive that some of the Commonwealth | Press,

pecially active,

contracts NA The Financial Times daily full employment.

men | Prices closed us follows: --," index.

"This resolutein, which was.

132.8 Associated

pro-

Contract No. 4 (word)) vides a basis of agredment, for

(January, 1907).

6.09 nomina1 March concerted international action

0.30 bkt NEW YORK MARKET

New York, Sept. 5. to maintain economic stability. Magy

July

3.23 hid Prices spuried in fractions to at the full employment level

DIED D point on the seek marks the culmination of much pot exchange with Industrials reach-

work over several January (1963) BAS preparatory ing new high in over 21 years.

years." Mr Lie said, Dow Jones averages at the end:

For the coming year. Mr Lie: May of the session stood as follows: estimated that the United: July

Ministers or representatives. after discussing the Colombo Plan, are expected to have secret session to consider sterling area's problems.

DOLLAR SPENDING One important

the

question that to dimusy is they are likely whethon the dollar relaxations made in some of the Common- area countries wealth sterling

should

Last

rovoked.

November There has lately been deterioration in Britain's balance of payments and in dollar and hard currency earnings.

nations of the sterling area should

cu: their dollar and hard currency

expenditures by about 25 per

cent.

High.

SOVC-

This figure was relaxed and SYNTHETIC IN expenditura November last year..

Iberale:d 111

the

This session, and when, it dakes place, with follow Commonwealth.... epnference on raw materials and manufactured Rods problems which is due to begin in London on September 24-Reuter

CHICAGO GRAIN FUTURES

GERMANY

Washington, Sept. 8. The Senate. Armed Services Sub-Committeo on Prepared- 10s has recommended restora- tion and expansion of Ger- many's synthetle rubber, pro- duction.

A report Issued by the Sub- Comumlites last Might Gold, "Western Germanynthetle So Chicago, Sept. 6. rubber should play the part in Chicago grain futures closed supplying the rubber neods of today mixed despite paport friendly nations and in hastcn= trade demand, but the remain Germany's pie returns to der of arding advanced ma

Wheat Clored 4.74figher to 214 lower and soybeand were

in

Dokmanya had developed

Grubber

Press

Exchange economically

London, Sept 0.

ao Industrins 20 rails

15 unties).

the

more

arcas,

of the

PIONICES

by

the

world's New York Sugar

Futures

the

Nations would require $40,600,- 900 which was, '

less

272.418 $480.87*

45.10

United Press,

the last budget,

NEW YORK BANK QUOTATIONS

Closing ban

Sept. 0.

than the gum inndropriateli. In

September

March

Contract No;^@.

-United Pines,

SINGAPORE MARKET

Singapore, Sept. 6.

Tel Nos, 86066-9..

BENTLINE

FAST SERVICE TO UNITED KINGDOM AND CONTINENT

BY

S.S. "BENALDER"

Prices of rubber future closed LOADING HONGKONG 8th SEPTEMBER

today as follows:

Nimmber 1 rubber, per 15,

September

October

November

Number 1 rubber,

September

137-107%

10512-150·

103-104

103-154

147-140.

142-143

15714-33831

114-110

173-178

DIRECT FOR SINGAPORE

THENCE

LIVERPOOL, DUBLIN, HAMBURG,

AND ANTWERP:

*United Press W.R. LOXLEY & CO., (CHINA) LTD.

LONDON TIN MARKET

London, Septerby

The tin market was quiet but steady. Turnover was 50 041 nominal 6.53 nomiasi tons, including 5 tons for cash) 0.30 09 -Prices closed at the end of By the official, morning, 'sension an 16 $30 ---United Prem COMPANY DIVIDEND

Beptember

Spot

follow

Spot.in buyers;

New York, Sept. 0, Spot tin," sellers

Businearitons at

• The Cuban-American Bugar Tresnonthe sing buyom in foreword to the report In Mr. Lo sald that he had Co. today declared a dividandirenthe tin, roserved his usual world review of $1.25 on cummon

festa. Eusiness, gone, at

Bettlerpent

ntil a data cearer the opening. Drynble, on Sept. 28 to bette at the Assembly's sixth seasons,total dividends for, the fecal Paris In November. Router year ending Sept 30 to $2.25, the same in 1930 when

Copra Quotations

11.20 was: alike. at the class Exchange Rates

of the

Fasulated Endividena of s

a

York Building,

Tel. 34165 & 88710,

PATTISON ORIENT LINE

LIMITED

24. GF "LÁURE PATTISON"

Bopt.

12-14 Queen's Road C..

OVERSEA

48 Bonham Str

Tel:-25840*