1951-09-18 — Page 9

MESSAGERIES MARITIMES

MOM

**LA MARSEILLAISE"

"LES GLIERES"

**MEINAM"

"OYONNAX”

Arriving

.Oct. 20

Leaving

..Nov. 11

Ort. 21 Nov. 17

Artward For

Yokohama & Robe

ilomeward For

.gopt.

Sept. 24

N. Afrien & Europe

..Oct. 3

Oct. 25

Nov. *

Manila, Raigon &

Marieilles

**LA MARSEILLAISE” Novi z

D passengers & freight

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

Rubject To Change Without Notice

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

Queen's Building (gr. floor). Tel. 26661 (3 lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

THE CHINA MAIL, TUESDAY, SEPTEMBER 18, 1951.

JAPS RAPIDLY BUILDING Jap Bonds UP NEW FLEET OF Advance In MERCHANT

London

London, Scp. 17.

SHIPS

Tokyo, Sept. 17.

Japan, which lost nearly 9,000,000 tons of shipping during the war, German and Japanese bonds is now making great efforts to build up to her former place on the world's

scared today following favourable Press reports here on prospects of a debt settlement, German five

per cen: issues were up 2,1 B1, Japanese 1007s elmbed 7% to 95 while the 1930s were up

41⁄2 4 1142.

Industrials and clis were quiet

and little changed.

The Fleancial Times' index of stocks was 133.7.

Japanese bends

"A" (4s, of 1899) "B" (43, of 1010)

"C" (59, of 1907)

dally li

8en lanes.

Anticipating the signature of the peace treaty, the occupation has loosened former controls on Japanese ship operation and "Maru" ships are now operating their first major post-war scheduled ser- vices to North America and west to Siam, Pakistan and India.

Other developments are expected as Japanese companies increase their tonnage but the high cost 00% of shipbuilding and high prices for second-hand 584 vessels are limiting factors.

95

70% 114

"D" (59, of 1934)

"E" (5s of 1934) Consols 0474-Associated Press and United Press.

NEW YORK

MARKET

New York, Sept. 17. Stock prices were entier today after the carly attempt to con-

NEW YORK, BOSTON, BALTIMORE & PIILADELPHIA, vis 000 shares for the first time in

SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

!

M.S. "TREIN MAERSK"

Sept. 20

M.S. "PETER MAERSK"

Oct. 16

M.S. "NICOLINE MAERSK"

Oct. 31

ARRIVALS FROM U.S.A.

M.S. "NICOLINE MAERSK”

Sept. 26

M.S. "SALLY MAERSK"

Oct. 20

M.S. "LEXA MAERSK"

Nov. 7

For Freight and Further Particulars please apply to:

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 36066-9.

Belgium Abandons

Restrictions On Capital Export

Brussels,

HONGKONG SHARE MARKET

(Our Own Correspondent)

Business done on the Stock

R.I.L.

ROYAL INTEROCEAN: LINES

Date

2013 Sept.

24th Ropt,

20th Sept.

Bed

Bet. 10th Ort.

12th Ort. 2nd Ney

4th Ort,

Oct. 1201 Oct. 13th Oct.

Deto

AHANKS DUYERS SELLERA SALES

IK Dank.. 1325 1840

5th Oct,

10 700

195

01 200 ₫ 39|

7th Oct. Mid Oct.

1000 13.30

Union

K Fire.**

DOCKS, ETC. K. Whort

Nevertheless, Japan hopes to ¡ berth-line service to North Exchange this morning have built

up her shipping America, was reported to be 807 | values et 8277,027.50. Noon strength to a total of 2,657,000 ships totalling 1,785,470 tous prices and the morning's trans-

gross, or 2,470,030 tons dead-actions:- tons by the end of next year.

Permission to re-start the weight, America This

145 regular Japan-North

included

ships DANKS service after operly 10 years was engaged in foreign shipping, given on June 12 last.

totalling 344,136 tons gross or 1,266,207 tons tendweight, and INSURANCES 682 ships plying in the domestic trade, with a gross tonnage of|

and

п deadweight 941,354 tonnage of 1,144,723.

Japan expects to add to this 100 vessels by the end of next year, either by new construction under her sixth and seventh Post-war, ship-building program- mes or by the purchase second-hand ships from abroad, making an approximate overall tonninge of 2,657,000 tons gross, or 4,000,000 tons deadweight. Rouler.

Announcing approval of Japan's re-entry into this service, the tinue Friday's late boom. The occupation authorities said that volume diminished, falling be-

the step was prompted by the low the 2,000,000 mark at 1,030,-

of. performance

the industry and recent six sessions. The general aver-Japanese shipping ind

mra- uge slumped 30 cents and indus-y Japanese Government

which Sur£3

ensured tal trials lost 97.

practices" and prohibition of After a Orm. modcrate and "false billing, weighing, tallying and Invoichg of cargo to obtain netive opening weakness ap-

a lawer freight rate." the of group peared in

on

The resumption of this ser- alnckening volume.

vice is part of a programme which the Japanese hope will eventually enable Japan to carry up to 50 per cent of her export and Import trade in her own vessels.

Television shares beld galna and non-ferrous metals leaned to the

but upside

slcels weakenal.

Profit-taking bit olls. Halls lost up to n point. Chemicals as 2 points. Motors gained fractionally," UNI-

les case.

declined as much

į

|

But Japan's present shipping facilities stil inadequate for this volume of freight.

pre

MAJOR STEP

Before the

SKIPPER FINED

of

N. Pt. Whatf' 0,55 Dock ....... 10.75 19 Provident Wheelock .. 2011⁄2 2735

LAND, ETC.

HC Hotel

Hi Land XD · 40

Shal Land 1.50 Humphroy

020

200付 40

. 10%

UTILITIES

Tram....... 1455 144 2000 145

Peak Train (0) 19,75

C. Light (0) 7,98

1000

7.00

1000

7.00

500

C. Limt 4.00

C. Lich H) 1.20

Electric, XD 33 3316

Telephone... 1311⁄2

Cement..... 13.10 13%

STORES, ETC.

Dairy....... 16.36

Watson

2014

L. Crawford"7.10

2.70

Perth, Sept. 17. The captain of a Japanese vessel The Kyoyo" has been jfined A£500 and the 43 mem-INDUSTRIALS

bers of the trew lesser amounts for a fishery offence in the

Island

New war, Japanese Hermit ships carried up to 80 per cent Guinea, it was disclosed here of the nation's foreign trade, today. Japanese skipping experis es- Mr Paul Hasluck, New Guinea timate that for some time to Territories Minister, said that COTTONS as come,

Ot 1,139 shares traded, 501 declined, 334 advanced and 251 were unchanged.

Dow Jones averages at the

end of the session stood follows:-

30 Industrials

20 Rails

15 Ututes

40 Bonda

group,

Bio

Financo

*** 2.50

even by mobliising the the Japanese master was abo whole of the country's shipping fined a farther A£70 for other MISCELLANEOUS

Yangi.ab tonnage, Japanese shipping will infringements of dshing rights not be able to carry more than in the area. 45.40 most 40 per cent of Japan's

foreign trade. 181.05

275.00 84.22

-United Press.

JAPANESE BONDS

Even this would involve the completion of a seventh past-

ship war

construction PTO gramme; remodelling of war New York, Sept. 17. time standard ships; salvaging Japanese bonds advanced of sunken vessels; purchase of fractionally to three points on second-hand ships from abroad;

todny smail sales

with

chartering the and

of Orient Development six per vessels. cent advancing three on a sale of 10 bonds-Associated Press.

Belgium has abolished all restrictions on the Increase In-

export of capital to European Payments Union countries as part of an effort to rectify her balance of payments position.

Belgium is-a creditor against most other na- tions in the E.P.U. and is also so much in credit with the E.P.U. fund that other countries have drawn their full quota of Belgian francs,

The ending of restrictions 1 Belgians have in practice already does not apply to Switzerland, been able to spend abroad as with which Belgian payments, much as most of them can afford. Including tourist traffic, are in deficit. There are niso formall- Western Ger- 1les regarding many and Portugal.

EFFECT

DEALINGS ON

DECREE SIGNED

Brussels, Sept. 17.

Belgium, to halt inflation, 10-

cating an "economic dê-

U.S. Steel

Production

New York, Sept. 17. Production of the nation's steel plants is scheduled to rise this week to 2,028,000 net ton of ingots and sleci for casting

Steel the American Iron and Institute said today,

This estimate is based on the Industry's

operate plans to facilities at 101.2 per cent of

foreign

1951. At the end of March, Japan had

more than 1,500,000 gross tons of operable shipping, including both coastal and son-going vessels,

This was considered enough to carry little more than 22,5 per cent of Japan's foreign trade

volume during 1951, metrie estimated at 22,600,000 tons.

Japanese shipping circles

greeted permission to

resume

The entire crew of the Kyoyo New by the were arrested Guinea authorities on August 22 and were tried on poaching charges at Lorengau in the Ad- miralty islands nearby.

The trial insted 11 days- Reuter.

Another Decline In

Grain Price

Chicago, Sept. 17. Prizes of grain futures moved North American run asainio lower ground. Wheat closed major step towards rehablita-1% lower to higher.

Prices dosed as follow:- ition.

At present Jupan is allowed to make monthly sailings on the following international shipping routes: four to North America, including New York; one

10

South America; four to Okinawa; two to India and Pakistan; and three to Bangkok (Slam).

TO HONGKONG

run.

Wheat price per bushet Spot

September

December

Atarch (1952)

Corn

May

Spot

September.

Ship

ABRIVALS

"TJIBADANE" "TARMAN". "TJITJALENGKA"

"STRAAT.

MAHARRAEL" "VAN HEUTKZ"

JIKAMPRE“ "TEARLBERG“

**THWANG" "ATRAAT

Japan

From

Belawan Dell. Penang & Bincapara Mackaert, Java Poria & Bloxspore

Holland (Malden Voyage) Japan

8. Afries & Ringaporn

8. America, 8. Atilen, Ringapore

Stabila

Machitar, Java Ports & Binganore

MAKASLAR” Тарап

BAILINGS

"YSIRADANE" "TJITJALENGKA“

TRAAT

'MAKARBAR" - "VAN HEUTST TIKAMPER"

"TASMAN"

"TEGELDERG"

"TWANGI"

Kingapore, 8. Atrira & 8. Ametlen Singapore, Jaya Parla & Macposar

Japan Porta ***

Singapoer, Penang & Relawan Delt Japání Poří

Singapore, Panang di Belawan Deli Japan Porta

Singapore, Jaya Parts & Wreksize.

Agents: HOLLAND EAST ASIA LING

ARRIVALS

Japan

From

..

To

Ship

"NOJOKERT Ind week Ort. "AJENDAKENK"

Europe & Singaparo

BAILINGS

"NOOGEEBE" "ALENDSKERK”.

Mantis, Hingapore & Europa Japan við Manila

TELEPHONESA PRATS

JOS PRO47.

British Wheat Crop Is

Down By 500,000 Tons

London.

Corn in the stook is sprouting in Britain's rain-swept fields. And in the thousands of acres 1000130 that are not yet cut over-ripe grain is starting to 300 21% fall from the ears.

1000 150

The Rubber

Markets

In many countles, too, uncut¦ corn has been so fattened by starms that it may never be harvested.

Even with good harvesting weather, the wheat yield was. Ikely to be 500,000, tons below last year's 2,000,000 tons-main- ly because of the bad spring, Now the drop will probably be greater.

EXCHANGES

IN NY

·

New York, Sept. 17, Cannda (dollar) | US$5.94-11/10

Half a million tons of whent England-omeini Is worth £14,000,000, and island-nomeini enough to feed the people et Manchester and Bradford fer aj

year. London, Sept. 17. Prices of rubber futures closed today as follows:- Number 1 rubber, in cents

per ib.

October

December

November

Dctober/December

January/March (1032) "April/June

STOCK-FEED CUT The oat crop is, likely to be 190,000 tons down. Fed to cat- 4794-404tle, that would produce 0,500,000 48-4011

gallons of milk,

So after thunderstorms, which elmost stopped

43-44 401 -United Press. SINGAPORE MARKET

Singapore, Sept. 17. Prices

futures of rubber closed today as follows:- Member I rübber, per .

Beptember

40-day futures Po-day turen Australia (pound) ... New Zealand (pound) South Africa (pound)

Bolghun Urane) Denmark (krane) France (franc)

West German

Deutschemark

2.79-13/10

2.40 uld-

240 anked

*

2/70-13/18

2.791

2.50%

012915

1435

4.50

2430

1106-24

1609

.0035

2.8814

0312

Holand (rulider) harvesting for Italy-officini

Norway (krone) the woek in ROMO places, Parigal (escudo). farmers stood looking Sadly Spain (pereta) at sodden fields, hoping for sun Sweden (krone)

Bwitzerland-free and dry winds.

There are some bright spots Egypt (pound)

MIDDLE EAST In East Anglia, farmers, who teari (503) have been working by hend- Iraq (dinnar) lamps at night, report

barley Turkey_(ra)

LATIN AMERICÁ 160-1684 yields of two tons an nere

Argentine-official 155-10G And 41 Northumberland, arazit (eruzeiro)

Westmorland and Cumberland, Bolivia (bolivianej the harvest a little later than Choreo usual, and will be safely in if Columbia (pero) there is a fortnight's sunshine,

October

1,101

- November

2.41

24172

Number 2 rubber,

September

2.48

Number

3 rubbor

2.473%

Bopterbor

201-157

140-347

Nunber 4 rubb

3.027%

Beptember

140-141

3.70

Spot rubber, unbated

183-360

December

1.72% Black crepe

118-120

March (1052)

1.70

No. 1 pale crepa

178-180

May

1.7746

-United

Ityo

Jul

September QAts July

1.60% 1245

September

DEL 05

NEW Work flour-per 200 ib. Sack. $12.55.—United Press.

Metal Price '

Increase?

their rated capacity compared In addition. the Japanese All debtor nations are to be day froze for six months five with 160 per cent in the preced- have applied for permission to to send per cent of all payments during week when output was open regular shipping lines to approached officially more goods to Belgium. Theo Belgiin exporters for gomis placed at 1,909,000 tons,

the Philippines, Indonesia. obvious doubt is whether, under shipped to European Poyments rearmament conditions,

they

and Union (EP.U.) countries

A month ago the steel plants Hongkong, Formosa, Korea, the have any more goods to send the Sterling Arca.

worked nt 100.4 per cent of Martonas, the Bonins and Aus- At the same time, Belglan ex- The decree the first ruling capaelly to turn out 2,007,000 tralia."

For the time being, Japanese Countries are of International ports to E.P.U.

tons. Importance to

to concentrate lincs intend to be discouraged and the Bel-be signed by the new Belgian

In the comparable week their best Diesel-engined shilps glon exportera are sirendy King Baudouin hopes to halt

year ago, when the industry's on the recently resumed North being charged differential rates "excessive

foreign indebted-

capacity was lower, a similar Amerela service, Four Jupmaze on their bills.

ners threatening inflation" by operating rate of 100.4 per cent lines are operating on the re-

resulted in production of 1,030,- opened

New York, Sept. 17. North American tence

100 tons.-Associated Press.

Metal men believe that domes cach with one sailing a month.

They are: the NYK Line, the tie prices for lead and zine will Mitau

the Line,

OSK-Shin

be raised shortly, according 10 Nihun Line, the Kokusai Line Dow Jones & Company, publish- (incorporating the Lino Marine ers of the Wall Street Journal.

to bring the United States qu bichy Steamship Co

more in line with the tions Nissan Steamship Co., and the price in order to

attract metal Toho Marine Transportation here. If these prices are per- Co.).

[mitted to rise, some Rources Under present plans, the four guessed, might parallel the lines

will place a total of 22 recent boost made by Canadian ships in the North American prothicers for metal sold to the service NYK, Ave; Mitsul, six; United States.-United Press

SK-Shin Nihon, seven; and

Not much increase in stock

The

divert

decree aims to exchange business is expected part of Belgium's exports from Sterling E.P.U, and the either at home or abroad. Belthe

deal in the zone to several Latin American

glans can already

London marked if they can on-countries including the Argen- Bill

Sine

dollar paying and to the United States and Canada.

Through tighter controls and limitation of non-essential dol-

lar

Belgient enforced by

the

inin "swlich sterling." Dealings in Franco remain hampered by exchange regula- the Fronch tions,

There is some prospect that

earlier this

this month, Belgian capital may flow abroad

will try to increase her by direct investment in

the EPU purchases within Industrial

companies financing new companies. The thereby off-setting its dedcits cent duty

towards Belgium attracting auch possibilty of

to Holland was under same time, saving capital

in

To Taxsportation Co., the Mitsu- Purpse of the move would be

Washington, Sept. 17.

Jap

Tuna

·

nt

the

Aullute

A bill to levy a 15 to 15 per

an imported from tuna was

the introduced in House today by Representati

(Democrat McKinnon

Coll

Belgians, cluiming to be fernia). discursion in the Benelux talks only all-round creditor country in August. Belgian official Inter- lin: the EPU say that they con

the

Kokusal, four. They will draw from their combined these ships fleet of 20 large ocean-going Mr McKinnon said a "food" vessels now available or under vention might prove necessary, no longer act as "bankers" of Japaneso tuna and de- construction for complotion be for example, by Belgium spon- their Western European part-moralised the market for tunn fore the end of this year, with soring a lot to build the much-

oggrogate deadweight dis- to linkers for both their economic re- discursed Dutch canal Antwerp with the Rhine, There equipment and defence build

up-Reuter.

may conceivably be opportunities

for Belgian capital in the sterling

arch.

Bolglah capitol, however, will Turks Sign Protocol

not readily take the risks of

of

in the United States and most an

operations for the season.

tunn Brherinen und abandoned placement of 270,500 tons,

bill would allow the Hils averago amount of tuna im→

in under 16 per cent duty, with

180 NEW

U.S. Shipments

Of Wheat

Д

LONDON TIN MARKET

Lccion, Sept. 17. The dia market was quiet Turnover was 35 ons, Including

03

15 tons for crab.

Prices closed at the end of the amelot

Crзion mening follow-

nos Spat tin, bayern

910 Spot in, clions

010-000 Three-mantha in, buyers 870 Bushness done af Three-months in, sellers 830

0774-072% Business done et

United From:

Bettlement

The Pound Weakens

In America

was

Cuba (pero) hiexico (pčno) Poru--free Uruguay (poc) Venezuela

+

(bolivar) -FAR EAST Indin trupea} Pakistan rupes) Jongkong Netherland East

Indies Singapore

Japan

2.61

0373

SOLO"

,050

0130

3393

360 yen to US$1 «Välted PresR.

New York Sugar Futures

New York, Sept. 17. World Bazar fartures closeri oder 1 do lower with sales. totalling 20 contracts.

New York, Sopt. 17. The British Pound Sterling weakened in New York today on the

eve of the second nn- niversary of its devaluation.

Sterling for forward delivery offered at a discount In New York foreign exchange cir- cles for the first time in more

Centrest No. 6 closed unchang- than a year,

ed to a lower, with antes tololllung The markdown was consider-201 contracts. ed a reflection of the worsening

Prices closed as chicos:— of the British foreign tinde Continct No. 4 (voeld)

Januty (1054) position plus a nervous renetion

Arch to rumours of further devalua- tion.

These numours have been

Pepper Market denies in British Government

Quiet

Now York, Sept. 17.

reported quiet situation black pepper and other items.

Spot black pepper was

Spice dealers extremely

ed at around $1.78-1.70

In

with October, November and

n

bagis

ported in normal years to cont being dispossessed by nationall- United Nations, Sept. 17.

the tax Increasing for add cation pr hampered by undue Selim Sarpóf, Turkay's per. tional amlunts.

the against investment in Britaland United Nations, signed

Torquay protocol to the General five cents a pound France, Fat in

2 cents fower, White muntok | "pot" wra ounted nominally at between $2.00 and 2.05 Washington, Sept. 17. Overscar shipments of whent pound, on nn ex-dock showed

Increase United Press. -marked Inditiding ships owned O during the past week, Agricul- lines, Japan's total fleet of ships The omelais said shipments fo sull'under construction by other lure officials reported today, eventually avaliable for berth® | inlled *** 4,300,000 bushels fine service was given at the naminst 3,334,000 bushels the

ing of July as 40, total-week before.

United Kingdom was bouclat

1,500,000 morpg at the following calos -- Allocated Dearly on una gross.k

#beriku nata “per morchant bushels, Netherlands 1,700.000, Bitlane iper Agreement on Tarifle and Trade Imports was introduced inst. The entire Japanese at a brief ceremony here today world by Topresentative-Hubert cargo feet ns of June 12, 1941, Belgium 000,000, Japan 200,000 indoorain authors ide

antonio, (onk: 240)- come into force Scudder (Republican), also of when permission was alvan for and Switzerland,100,000. This act will

the resumption of a Japaness. United ProsNTRY on October 1. — Reules, California United Press,,

restrictions.

This will militate | mantent representative at bli to place a flai duly of line oplos

The de-restriction also applies to tourist expenditure by travellers' cheques. This will not, maka masinii différenONE DE

+.

circles.

The British Pound on Sep- tember 10, 2010, was cut to Today US$3,80 from US$4.03. Storling for inmediato delivery was quoted in New York as $2.70-1. the first change. since August 22, when it was $2.00 Associated Press,"

AMALGAMATION

APPROVEDEN

Cor

Many

JES

Retitemher

Spol

Contract No.

January (18R3)

March

ainy July

Septeraher Spot

18.33 nominal

0.16 traded

6.10 hid

Did nominai "

5.10 nominal 0.40

BA sided

340 İnder

542 dea

BAll nominal

3.00 nermine)

“United Prean, a

Less Newsprint Consumed

Now York, Sept. 17. Daily newspapers reporting

to the American Newspaper

per

San Francisco, Sept., 17.- Consolidated Grocers poration of Chicago today ac- Publahera Asociation quired Union Sumar Company of 344,470 "tous of newsprint California, wholly-owned sub- August, the ANPA sold, todny. aldiary of Union Buzar Com This was a detrene of seven-

one nd the requisition at 1030, Tind

at a meeting 340,796: Loile tused, in". "August, nn Increase over the * Qao Requisitions" plan calls f

for of Issuance of 245,430 share

August 1940. It was Consalidated Grocers Comion fourth time, this your coumimpi stuck in tachungo hot nii tho | Hon hád: bệch" below the cor- shares of Union Sugee Company responding month of last year. of California-Associated Press, Astuðlated”: Premi

Exchange Rates pans. Both companies appens tenths of cont from the Businovas deno in sha: Jocs At:010 tony-consumes/data.

market

11