1951-09-12 — Page 9

Page

MESSAGERIES MAY MARITIMES

MOM

***FELIX · ROUSSEL” +"MEINAM"

Airiwink Leaving

Bept. 14

Mireilles

Par

..Sept. 14 Flußept. 22

Bept. 23. N. Africa & Europe *"LA MARSEILLAISE” ..Det. zo Oct. 21, Kobe & Yokohama 4"OYONNAX”.

Oct. 3 Oct. 25 N. Africa & Europe subject to change without moslem,

* passengers & freight

tfreight for Fortsaid, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, & Rotterdam.

CIE DES MESSAGERIES MARITIMES P.O. Box 58, Hongkong

Queen's Building (gr. floor) Tel. 28651 (3 lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTI MORE & PHILADELPHIA, via BAN FRANCISCO, LOS ANGELES AND PANAŠÍA.

NEXT SAILINGS

M.S. "HULDA MAERSK”

M.S. "TREIN MAERSK"

M.S. "PETER MAERSK"

MS. "NICOLINE MAERSK”.

M.S. "SALLY MAERSK”

M.S. "LEXA MAERSK"

ARRIVALS FROM U.S.A.

Sept. 15

Sept. 30 Oct. 16

Sept. 26 Oct. 20

Nov.

7

For Freight and Further Particulats please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 86060-9.

International Silk Congress Decisions

London, Sept. 11.

THE CHINA" MAIL, WEDNESDAY, SEPTEMBER 12, 1951,

Cotton Duty Lowered

Karachi, Sept. 11. - The Pakistan ·Govern» ment today 1cwered the export duty on collon to 180 rupees per bate an_all varieties

Deal except which is set at 100 Rupees

tale.

"The invernment strul-

taneously announced

the ting of the ban on for.. ward, trading, permitting businers" [ 1951-1952. deliveries-United Press,

AMERICAN BUSINESS CONDITIONS

World Payments Now

Closer To Balance

Washington, Sept. 11.

The annual report of the Executive Directors of the International Monetary Fand, which was issued on Tuesday, said that generally ipenk

much closer to balance · than they ing the world's payments were now... were two or three years ago..........

The report said these improvements have been associated in Europe with peralatent increases in output and real national Incomes. As a re- sult, the abnormal reliance on U.S. Imports, which characterised the re- construction period, is now being reduced.

The report said: "When the post-war period

is viewed as a whole, substantial advances toward monetary stability are evident.

"The budget position his greatly improved, Latent infa- tion, carried over from the was years, was it appears, general Goods Piling Up In climinated by the middle of Dealers' Hands 1980 as a result of early post- war monetary purges of budget- ary, Burpluscs in some countries.

of post-war and

price in- creases."

Advice from loading merchants in the United States Indicates that

American hard goods, notably cars, are piling up in dealers' hands, and that manufacturers welcome the Government's edicts ting down allotments of steel, etc.

cut-

The report added that the development of Intra-European trade has been an important element in the recent evolution

substantial improvement in 1950; and that the exchange tax adopted by the Philippine Con- gress was somewhat lower than that recommended by the mir

It said the slon's report. Fund, taking into consideration that related measures were also being taken to increase produce tion and achieve Internal Anan-15) cial stability, approved the use of such exchange tax as a tem- porary measure

10th

HONGKONG.

SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning was valued at $235,073,50. - Noon: prices.anchtho Ivar Rooth, of Sweden, the transactions --- Managing Director of the Fund,

Press.

RI.L.

ROYAL

4th Oct.

CUTITWANGP

ARRIVALS

AN

LINES

Macassar, Javá: Ports & Blogspores.

**MSTRAAT BORNDA” 8. America, 8. "Africa," Ringspare

»VAN MKÜTİZE

**JIBADANK”.

„TARMAN"

ESITJALENGKA**

MAKASIAN"

"YJIKAMPAR!

“TJIWANGU

Mania

Siralla a bezawan tivel

Japan

Belawan Doll, Penang ↳ Altrapora 'Macasaar," Java Poria & Ringapore -

Holland (Maiden: Voyage)

·S. Africa' & Singapore

1. America, 8. Atries,,, Bihrapara

Manta

SAILINGS

‚ singaporė, Java Porti & Macassar

Japan "Port

#ATILAAT 10RNDA"' Japan Porta "VAN HEUTAZZ WTSISADANRY "ESTFJALENGKA”- "ETBAAT

MASAZHAR”

"VAN HEUTEZ” '* "TZIKAMPER" U

"TEDELBERG"

Bingapote, R. Atzten & N. America Kingaporej Java Poris & Mackstar

· fapan Porta

Singapore Penang & Belawan Itell Japan Part

Japan Porta

Agents: HOLLAND BAST ASIA LINE

· Data! ·

· morning's

tith dept.

ARRIVALS

-"HOOGKERK" fnd week Det. '“ARENDEKERK"

DANKS

IK' Bar East Afis INSURANCES

15:23 1540 # @ 1830 |,"

16th Rupt.

Mia Det.

KINGS

of Europe's balance of presented the report Unlied BABES BUYERS BELLERS BALES ments with the outside world, It pointed out that recent price trends, have caused substantial

PROMISE OF AID changes in terms of trade, in all parts of the world.

Washington, Sept. 11. Television sets are selling re-

The International Monetary fall at 25 to 40 per cent below The report continued: "In Fund today promised its 80- the retail list, and refrigera- | general; the movement has

member countries that it would tors are at 20 to 25 per cent been against the more indus provide more aid out of its less.

trialised countries in America $8,000 million pool of curren and Western Europe." The directors urged Fund members clebat it attached brings.

30

Manufacturers' recent TC- quests to Government for higher prices are, in part, effort to scare prospective buyers' into taking action.

It is predleted that there will be a gradual lowering of prices

the next six months. during

ed

to rely on monalary and fiscal measures to counteract Infla- tionary tendencfis.

Canton Union

HK Pire

Docks, Etc.

700 783

K. What N. P. Whet 6.85 Provident Wheelock

The conditions will be that those seeking aid shall adopt anti-inflation programmes to pui their currencies on

a stable LAND, ETC. The report said: · “Further-

basis and sot

up programmes to In more, It should be borne nelax

measures or remove trade resrid- in accord with Fund alma. they

Mr Ivar Rooth (Sweden) the UTILITIES

ker, it is also consider-n.ind that extensive

Logs

KK Hotel IIK Zand Humphryys

of direct control, unices that Government, un- der pressure from business in-

are accompanied by fiscal and Fund's aw managing directory.... terests, will keep business and

monetary measures, carry with stated the Fund's policy at the them the risk of building

UP sixth annual meeting of the Fund Industry at a high level.

anew situations

of latent and its financial twin, the World flation, which would threaten

It is not expected there will be any permanent softening of prices, and that 1952 will bring further inflation in the United States,

One

18 probability

that American manufacturers will once again seek foreign

mar- kets.

Japanese To Initiate Trade Talks

Four hundred delegates from 17 nations

Tokyo, Sept. 11. attending the International Silk Congress in Lon-

The Japanese Govern don have decided to spend $500,000 on publicising ment

hopes to open silk, officials announced today.

separate trade negotiations Their aim is to educate the within the next few weeks 'British, Common- public. on the qualities of silk with and the advantages which wealth and South Ameri customer may obtain from its can countries, according to

Japanese officials here to day.

EXCHANGES IN NY

New York, Sept. 11.

Canedo (dollar) England Melat

unofficial .....

30-day futures 50-day futures

US$4.01-11/16 230-15/30 2.40 bld 2.40 asked 2.00-1/10 2004

Australia (pound)..... New Zealand (pound) Bouch Africa (pound)

2.7972 2.201

Belgium (franc)

Denmark (Gerone)

France franc)

.0100 1454 00259%

4.20

+3630

West German

Deutchemark

Holland (gulider) Italy-omelai Norway (krone) Portugal (do) Spain (peseta)

Sveden lerone) ·

13003

Switzerland-free

MIDDLE EAST

Egypt (pound)

2.88$

Irma (al)

03123

Iraq (Binar

201

Turkey (ra)

5370

· LATIN AMERICA

Argentine-oficial

DT03

Brosi) (enneiro)

0350

Bolivia (boliviana)

Cille-frey

0150

Columbia (poco)

4013

?

Cubs (pelo

100

Mexico" (po90)

Peru-free

Unjury- (DEM)

Venetista (bolivari

2005

FAR EAST

India trupes)

Paldiafers (trupeo)

Hongkong

Singapore

Japon

Netherland East Indies

-2101

UASI

New York Sugar

Futures

tisc.

An International scal for household laundering materials for silk has also been approved Scientists have perfected tests to be applied to such products to enable them to bear this seal as a guarantee that they will not harm the material.

The International Silk Asso ciation has decided to concen- trate on the technical improve- ment of silk itself and on manu- facturing methods, the officials also said,

Important questions at the prosent four-day Congress in eluded the stabilisation of rew silk prices and the establish ment of rules. to govern the buying of raw silk on primary markets.

Mr Bottomloy, British Secre➡ tory for Overseas Trade, who opened the conference, today

and that the Government was fully committed to a policy of international

co-operation in the economic as well as the political sphere.

for a long time in the future

Bank.

Impair again the effectiveness Though the Fund's credits of monetary policies. The re- over its five years of operations lative degrees which

to

coun-total $850 million, complaints tries are successful in contain-have been voleod, because the ing or

reversing Infla- Fund made only one advance even tionary pressure whit directly since April, 1950. That was $28

the balance of Interna- million to Brasil. tional payments. Experience has shown that deficits tend to amerge In countries where Inflation. Is greatest.”

affect

PRICE INCREASES The report pointed out that improvement in the balance of payments had been stimulated It said. by increased prices. for example, the 48 per cent Increase in value of United States raw material imports be- tween the first half of 1050 and the last quarter of that year, was

Mr Booth, who replaced Mr Camille Gult

(Belgium) Fund thief Ihst month, acknow fedged" "that “even the Fund's friends are concerned about the recent limited

of lis resources."

U150

TOUGHER POLICIES

But he gave notice that the new policy means that govern ments wishing to tap Fund resources will be expected to

curb spending at home, adopt tougher tax policles and speed removal of their restrictions on

currency exchanges.

.. 12.85 13.28

1.00 18.10

1414 26.70'2000 @ 14300

C. Lini (0) 1.70-1.95 2000 6 18 C.-Hght

C. Light (D) 13% 7.05 4200 Electric

Telestions... INDUSTRIALS

13

Cement

Rope

STORES, ETC.

Datty ........... 18.10 1014.

Watson LeCraeforst

COTTONS

LONDON TIN

MARKET

due largely to price increases the volume of these imports

London, Sept. 11: The tin market, was "steady. rose by 10 per cent, but their average price by 34 per cent.

Tumover was 95 tons, including 55 tons for cash "Goverments must discipline. "If for any reason the current. abnormal demand for raw mate themselves in these times to. Prices closed at the end of the

morning rial Imports were to be reduced, cut down on every dispensable oficial

Eession there would be immediate reaç- public service and they must follows:

kööt tia, tty

pot in peltis

formal talks between

Trade · officials said that in- various Commonwealth representatives and the Japanese Ministry for infes." International Trade and In-

indicated that dustry

there should be no snags in the way of starting negotiations.

Talks with Australia, Britain, India and New Zealand would. be held in Tokyo..

Japanese trade negotiatora hoped soon to travel to Pakistan, South Africa, Ceylon and Burma for conferences."

a

The existing Japan-Sterling Area trade agreement conclud ed by the occupation authorilles on behalf of the Japanese Gov- ernment would be nullified with the the coming into effect of Japanese

peace treaty, Japanese official said."

Therefore, the Japaneso Goy. crnment would act as quickly as possible to arrange separate Agreements to come into effect, probably from the first day of Japan's ratified peace treaty. --

Mr. Bottomley said that those | Reuter. who had followed the develop- ments in the silk industry in recent years were aware of the quality and beauty of the pro- ducts now being produced.

"The main aim of your As- sociation is to demonstrate: to the world the beauties and lasting qualities, of slik and the theme of this Congress is the renaissance of silk," be sold:

Tonight

the delegates are attending a banquet at the Guildhall of the City of London. -Reuter.

JAPANESE POLICY

London, Sept. 11, The French delegation at the. International Silk Congress conference here today expromed fears, over Japan's raw k price policy.

Rubber In London

London, Sept. 11. *Prices of. rubber totures closed today as follows: Number 1 rubber vän, ku

cents per ib.'

October

November

December

Gctober/December, January/Borch..

48% mom

40+49

47-40

4013-47

- 473–48.

Prem

trees, dons at Three-months tin, buyers Three-months tin, sellers Busse cone p Bettlement

tion from higher price levels Jund taxes and credit that would reverse the current strictions, however burdensome balance of payments trends of they seem, to reduce private raw material producing econo-expenditures," Mr Rooth said.

Noting that members will The Directors' report pointed be required

to justify to the exchange out that despite substantial re- Fund any currency

in many restrictions

Initiat they covery in production parts of the Fur East since the maintaining, after next March, end of the war, important basic Mr Rooth indicated that the

to Fund will follow a dough policy. production

problems remain bo solved. I cited rice in in those cases too. Burma and Indo-China,

and

below

ten in Indonesia as products which were still well pre-war levels,

on

„United Iris.

Japan

Japan

From

Europe ★ Singapore

BAILINGS

"ALMKERK" " "HOOGEKEK” PARENDERERE".

DIA DES

To

Manila, Blogapore, di Europe Mania, Singapore & Europe Japan via Manila si

TUTE PHONEN.

$R045 101 26017

m.v. "FELIX ROUSSEL"

will sail for

MARSEILLES

vía

Manila, Saigon, Singapore, Colombo, Djibouti,

and Port-Sala

Saturday Sth of September

11 P.M.

Passengers are requested to board the vessel with their Cabin baggage on Saturday the 15th of September between 6 P.M. and † P.M.

Baggage Room and hold baggage will be registered at Kowloon Godown No. 50 (No. 2 Gate, Canton Road Entrance) on Friday the 14th of September between 9 A.M. and NOON and 2 P.M. and 4 P.M. No baggage will be accepted for Registration after this time. CIE DES MESSAGERIES MARITIMES

'P.O. BOX 68, HONGKONG

Queen's Bldg.

д

Pepper Market

Now, York, Bept. 11.

Tel: 28651 (8':Lines)

A C.

"We intend to discuss with The peppar market cafilimi Every TUESDAY is SAC DAY to BANGKOK

such members the manner in stow with prices showing little |which these restrictions can be change. Spat Wes quoted relaxed or eliminated before nominally at ; around $1.30-131

and DIRECT FLIGHT 16 RANGOON

It said: "There has

an improvement in become an Impassable obstacle however, the balance of payments of job frètr flow of international the majority of countries, which trade" and payments,”! · þó, Bald.

in {'--Reuter, was particularly noticeable 1950, During that year, the exchange holdings of Ceylor, Japan und Thalland increased. In India, substantial payments deficits of previous years were converted into a surplus."

been, the vested interests they create a pound, October delivery at BANGKOK/PENANGSAMRUTHAL KANG NAGAR

JAPAN'S POSITION -

Il.andel:

NY Cotton Market

New York Sept. 11.)

· Prices of cotton fitures closed today as follows: Epit

The report said the ameliora tion of Japan's payments poli- tion was duo primarily to re covery of production. N

Improvemands the trade balances of Cayton, Iratonesia, Pakistan, the Philip October pines and Tualland were mainly December due to inferensing world de- March, (1903) mand and higher prices for M their products, as well as, in October some countries, to 1949 devalun- | December Bone, and, in the Philippines, to restrictners.”

$1.79-1.80 and November-do-

very at $1.76-1.77 a pound.

Dealers reported September: shipment offerings from India at aroundt $1.70-1.77 4 pound find December new crop ship- ment at around $1.83 « pound, on an ex-dock basis. United Press

Exchange Rates

Business was done in this: Joeni market this unofficial exchange | morning, at the following rated an

Besting pote per £1) UB. Dollars, (per Mayedari

24,48-54.46|||Tdonesia guldiers (per 100)

|Siem licala (per 100): Mjämvesparo (Stráža). SLBI-SLOI | NTC. plasteca (per 100)

102.30 bid

--United Press.

NEW ORLEANS. MARKET

It add the Philippines in the past your had been faced wilts Boot the noctuity of, taking further October imedatures to - overcome grave economic dimeuldés :: what, may still be dotiskteroci direct legacy of the devastation; of-ward- recalled; tant, the verktis, açono» mic straits in which the Re- publle found twolf, Singapor Sept. 11, The Govenment: in 1950: Prices of rubber - futuros" quest the closed today as follows

United State Number rubber, per

oconomie

SINGAPORE

New York, Sept. 11. Domestic, sugar: futures No, closed sang to two lower, j

The French say that Japaneng November

5.60 bid - producéts and farmers are op- MAY

3,340.32 bid. Pared to the stabilisation of raw Domestic augur futures No. Balk prices which is one of the

vital

to be debated by | Number: 72 closed:

y cuestione

· Beblommer futures No.: 4 But, Mr. Y. Nishimon (Yoko Number unchanged to eight lower.

in member or the Japan, Number

World

aï not opposing price, Sirbilleation). final" In fuck we are-in favour of it/!.

・

October?

Noyember

LONDON STOCK- EXCHANGE

& SINGAPORE ON WEDNESDAY. BANGKOK/RANCOÓN & 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, Kowloon.

Booking Agents:

Tel: 24292

Tel: 56416

AUW PIT SENC'S TRADING CO., LTD. 10, Pedder Street, Tel: 26733-

CHIANG HUAT HONG

340 Queen's Road, West, Tel: 36204

Pacific Far East Line, Inc.

KALAND

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