1951-09-19 — Page 9

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 19, 1951.

MESSAGERIES VAN MARITIMES ANGLO-U.S. DIFFERENCES

MM Disagreements Over East-West Trading

Arriving Keaving Quiwaza TAT.

LA MARSEILLAISE" .Oct. 20 “LES ÒLIERER” .....................Nov. 11. Nay, 11 | |

"MEINAM"

{"OYONNAK”

Yokohama & Robe

flomeward For

...Sept. 1

Tot 11

Rent, 24

Oct. 25 Nov. 3

N. Africa & Surepä

.

Manila, Salon &

Marseilles

4LA MARSEILLAISE" Nov.

passengers & freight

I freight for Portsaid, Tunis, Algiers, Oran, Tongfor, Casablanca, Havre, Dunkirk, Antwerp, & Rotterdam.

Subject To Change Without Nolles

CIE DES MESSAGEries marITIMES P.O. Box 58, Hongkong

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

Synthetic EXCHANGES

Petrol

Project

PLANT IN INDIA

TO BE SET UP

New Delhi, Sept. 18. India, it was announced in

IN NY

Canada (dollarl

New York. Set, 10,

US40.35

unomical

Denmark (krona)

2.79-26/10 2,43 !! 2.46 asked

حمد

| EnglandoMetal

30-day futures 90-day futures.

2.-13/16

Auxiralla (pound) ..... Now Zealand (pound) South Africa (pound) Belghun (trone)

2.2116

2.2011

2.001

0100 1435 00233

4.20

20.30 110011 .1405 .0140

.0033

West German

Deuichemark

found (guider) Norway (krone)

Italy-omelal

Parliament today, has ac-France (frame) cepted the broad principles of a scheme submitted by the Koppers Company of America to get up synthetic petrol plant.

The question of capital outlas is under consideration.

The National Planning Com- mission and. Speelal Committee of the Council of Scientific and Industrial Research arc now examining the Koppers Com-

report, it was added. paris announcemes: avas made

Portugal escudo) Spain (perl) Sweder krona) Switzerland-free MIDDLE EAST

Egypt, (pound) Iran (ral) Traq idinar) Turkey (1)

LATIN AMERICA

Argentine offieint spokesman Brazil (cruzeiro) answering questions on the alivia (bailvisno)

by

Government

Persian oil crisis,

Other peints emerging from his

replies

The

were:

closing of the Abadan rednery has not affected India's oil supplies at present, except for Jute batching, oil and aviation spirit,

2.80%

2.81

03125

5576

0705

*500*

Chile-free

0130

Columbia (pex)

cuba (peso)

1.00

1185

Mexico (peto) Per-free

Venezuela (bolivari”

Uruguay (peso)

FAR EAST-

India (rupec)

India le trying to Import pakistan (rupes) suficient quantities of thesfongkong two products from "producing Netherland East Indies countries in the Middle and Far Singapore

East and other dollar sources."

Koppors will

Synthetic

petrol

106

two up plants-ope

producing 70,000 tons of avia tion petrol, 28,000 tons of motor petrol, 1,800 tons of phenol (carbolic acid) and half a mil- of domestic coke a lion tons year, and a bigger plant pro ducing 100,000 tons of aviation

tons petrol, 85,000

of motor petrol, 3,600 torta of refined phenol, and 1,000,000 tons

domestic coke. Reuter.

of

Japan

300 yen to US$1 *-United Press,

Gaitskell's

Concessions

London..

Essential For Britain To

Trade

With The

Soviet

London, Sept. 18. Differences of opinion between Britain and the United States over East-West trade may shortly be forced to a head.

This possibility is inherent in the passing by the American Cón- gress of the so-called Battle Bill (otherwise known in this country as the "Congressional battle axe"). which gives the U.S. Government power to suspend military and economic aid to countries who trade with the Soviet Union or her satellites.

American

Loans For

Far East

Washington, Sept. 10, H. Gaston, chairman of the Board of the Export Import Bank, testined today that the bank's landing activities in the next several years will include loans to the Philippines and pos- sibly other countries in the Far Enst

1

Commenting on the new outlook, the Financial Times today makes an oblique reference to the privileged position of Japan in the American way Lof thinking,

"Broadly speaking,” the news= | paper says, "the Americans, ex- rept where Japan is concerned, have tended the view any trade i with Russ or her satellites t- creases Russian war potential."

Hitherto Anglo American

the question of differences on East-West trade havo centred เ the shipment of British machine-tools to Russia and the oil from export of rubber and Honglong. Now, however, as the Financial Times points out,

uch

as the A development Fasting of Uic Battle Bill and Mr Gaston appeared in hear the signing here of timber and Ings of the House Banking and

with Russia grain agreements Currency Committee on a bill "may make the next overt to expand the lending nuthorlly difference, should it occur, much of the bank by $1,000,000,000, miére difficult to resolve,"

Explaining why the additional Trade between this country authority is required, ho sald and Russia has now been cut to the Bank ought at all times to a point where any further reduc. substantiation would reflect seriously an be provided with a

the British economy, reserve fund.

British imports from Russia There was now $500,000,000 unobligated,

but more autenti Eastern Europe-consisting thority would be needed to con- mainly of foodstuffs could only tinue normal activities and still be replaced by purchases from maintain large enough, a

the dollar countries, and it has sorve to meet any emergencies. already been announced that The Philippines was the onlyollar imports are to be further country he mentioned specifical-

:estricted. ly as being likely to receive bank

Moreover, under articles in loans in the near future under the timber and grain agree- what he called normal lending ments with Russia, Britain activities United Press,

undertakes to make Sterling goods available in return, Russia, In fact, can suspend or redues her exports to this country they cannot buy rubber with their Sterling.

TC-

Bad Working Conditions On Liner

HONGKONG

SHARE MARKET

(Our Own Correspondent)

Japan To Start Trade Talks

Tokyo, Sept. 18. Тво

Japancro Govern. today mena announced that 11 will start talks with Thalland and Indonesia in Tokyo early is October to speed ocmmercial agree- ments to remain in effect after ratification of the Japanere

peace treaty.--. Assoolated Press

.......

Rush To Buy Jap Issues

London, Sept. 18. Brokers besleged the

Japanese section of

the

R.I.

ROYAL

Bate

20th Sept. ta Hapt. 271h Wept. 2013 Arpi.

Est Oel.

3rd Oct.

1th Oct.

12th Dri ith Det. 2nd Nov.

21st Sept.

**

Elet

Ist Del.

tis nel.

ch Oct.

Izth Oct,

1401 Och

Ct Ort.

17th fret.

Date

5th Oct.

tim, Oct.

INTEROCEAN:

satr

**TSIRADANI "TAMMAN

ARRIVALK

"PEITIALENGKA" "STHAAT

MAKARSATE" "THKAMPEK” · "VAN BEUT82" "TEGELDER"

"THWANOIT --CHIDERAN"

STRAAT

Page

LINES

PRODI

Belawan, Dell, Penang & Kingapore Marakat, FRUa Perle & Singapore

gitoBand (Malden Voyngs! Atria & Alscapate

Japan

* Amerfen, B. Atries. Singapora

· Manlin

MENEROKAY, ANY?.. Porta & Singapore Jenan

MAKASSARN Ingras

BAILINGS

"THISADANE "THTJALENDRA” (

STRAAT

MAKASSAR" "VAN BEUT<2" **TIKAMPER"

TARMANS

TFOELBERO" "TJIDESAT"

*THWASOI"

Fo

Mustapare, N, ADICA & R. America Mingapore,, anya Party & Machasse

Alägapore, Penang & Belawan Dall Japan Vorth

Singapore, Pamra & Belawan Del Japan Persa

Masla, Hlagapers, E. & S. Afrien

48. America

Kingspare. Java Porta & Maennice

Agents: HOLLAND EAST ASIA LING

Ship

ARRIVALS

"RDOOKBARO" HARENDAH TOKY

·WARENDSKENK" and week Not, “KIELDRECHT"

11th Nov.

Fait

Ispan

Furope & Ritenpare

Japan

Evrops & Slaaprie

SAILINGS

}

Oct.

"HONGKKAK "AHENDAKERK".

London Stock Exchange_to- day in a new rush to buy Oct. bonds.

Both short-term gambles and long-term investors have been Business done on the Slack buying Japanese issues before Exchange this morning

since the Japanese pract was and valued at $700,331,60, Noon treaty conference at San Fran- prices and the morning's trans- cisco.

In recent days leading Japanese by Issues have risen steadily almost £10..

SHARES DUVERA SELLERS BALES BANKS

HK Bank

1540 5 @ 1435 INBUILANCES

German issues have also shared Upion

770 20 10215in the Japanese bcom as both

40 700 DOCKS, ETC HK Fire

speculaters and investors rush:a to buy in the hope of on

carly K What!

settlement of outstanding deb!.

133

20

93

N. P. Wharf 3.75 3.85 2000 5000 Dock

16

1000 Provident .. 13.20 LAND, ETC.

HK Hotel.. 6,10 9.20 BOOG

HK Land XD 50

- 101 Humphreys

fl

UTILITIES

Tram ................. 10.10 1011⁄2 1900 e 15

10.24 Star Ferry

.100

C. Light (oi 8,20

Some German issues Have notched over £5 in the past few days.

th

Nov.

"ARENDAKENK”

1450l. Khuzapore on BIFOTIA Japan visa Manila-

MARUA, WINKapore, & Europe.

KINGS, BIEDINGS FETEPHONES:APROTS, 10. 28017

MAERSK LINE

FAST FORTNIGUTIN SERVICE, TO;

NEW YORK, BOSTON, HALTIMORE & PHILADELPHIA, VIS

SAN FRANCISCO, LOS ANGELES AND- PANAMA.

NEXT SAILINGS

Japanese bonds

"A" (4s. of 1800)

70

"B" (4s. cf 1010) "C" (5s. of 1907)

58

በዐጻ

"D" (5s. cf 1034)

79

0.10

"E" (54s. et 1934) Consols United Press.

110

044-Reuler

and

M.S. TREIN MAERSK❞ M.S.. "PETER MÅERSK"· M.S. "NICOLINE MAERSK"

MS. "NICOLINE MAERSK”

M.S.

500 .0.70 1000 0.20

B000,30

200 3.25

3000 @ 7.00

Light (1

· (N) (B)

Electric XD 34 34%

1000 € 14

Telephope.. 1515 INDUSTTUALS

NEW YORK MARKET

New York, Sept. 18.

Stock prices closed lower tier:

a late buying movement failed to erase all the early losses, Declines at the close range from fractlens to around a point.

rolls. Aircrafts

Cement ALS. 1346 32.00 1300 @ Hardest hit were olls, metals and showed gains throughout the session, Telc-

Hope the

STORES, ETC.

Dairy: 16.05

Watson

A FARADOX That is the nature of the liter

the British facing Government. The position is not made easter by the know- ledge that American Congress men who supported the Battle Bill consider the United King- Bombay, Sept. 18. dom the worst offender in East- The Polish Nner Batory sailed West, trade and therefore for Southampton, England, to most likely to be punished. day without 34 Indian seamen

Paradoxically. British control of the of a large signed on herë,

The Indian Government re- Eastern

Jy growing in- Family businesses which havo.

fused to give the men par- dustry which did

much-to- ploughed back pronts for many mission to leave, contending close the old "dollar gap" be-

unsuitable for Indian panies whose shares are issued were

up, now becomes the subject of COTTONS to the public are to receive railors.

a tug-of-war between America The liner arrived here a week and Russia - with Britain tied "consideration" for exemption

in the middle, from Mr Galtskell's comingco inaugurating a service be

tween India and Britain with al.

It has been obvious for some Dividend Control Bill

call at Karachi, Pakistan. She time that rubber exports are Chicago, Sept. 18.

trans- off the Slow domestie and export

This is implied

was pulled in man-

the biggest cause of resentment Ailantic service after being demand, plus favourable crop

nouncemeat by the Treasury. #rnin

barred from docking by Now America over trade between futures carried

Britain (8 the responsible Balory

of Malaya "guardian"

atl Holding companies, too, which York nuthorities The i-3/0

an established the ship on which Gerhart Hongkong) and Russia. have acquired were 14 business and whose "standard Eisler, now a Communist lensee dividend" under the Bill would in East Germany, fled the be "smaller than that of the United States.

Besides objecting to working company required" will also be "considered

conditions aboard the

Grain Prices and returned into com that conditions aboard the ship fore the new one began to open

Lower

news,

lower today.

Wheat closed

14

10

lower and soybeans

10 34% lower.

RYE

Prices closed as follows:-

July

Soptember

OATS

July

September

New York four-per

312.45.-United Press.

12

1.6036

80%-T

เม

}

Indian Government af als de One definite exemption is an-manded, that wages be paid 18 nounced for the first time-the months in advance is a deposit 200 lb. Back. distributions of a wholly-owned while the Pollsh line offered

subsidiary. company to ita year's wages in advance.--Asso parent.

ciated Press,

Price Of Wool

Again Lower

The

Adelaide, Sept. 18. second Adelaide

wool

salo for the season opened to- day with valuds for best wool and average 15 per cent lower fleece wools and skirtings 10 to 15 per cent lower than the average reached in the three days of the first sale last month. Brokers estimated that, com- pared. With Eastern States rates

..

Shipowners Plan

Against A Slump

In fact rubber, in the words

of the Financial Times, has be

come "political dynamite."

DOUBLE FOLLY

Though there is scope for lat tudo in the administration of

L. Crawford 2773

1.70

Ewo...

1900 @ 1334

500.0 10

visions advanced.

17 1200 16.30 | M

400 10.65 averages lost

ARRIVALS FROM U.S.A.

BALLY MAERSK",

M.S. "LEXA MAERSK”

Sept. 30 Oct. 16

Oct. 31

Sept. 26

Oct. 20 Nov.

General For Freight and Further Particulars please apply to:- 20 cents with

100 10.00 utilities the only section to show

1500 10.00 а

250m 2214 gain-of cents. 1000 1224 VAS 2,030,000 shares,

Turnover

300, d. 2296 | declines were attributed 10 pront-taking. or 1,145 sues declined, 366 advanced and 257 were un-

The Rubber

Markets

London, Sept. 18. Prices of rubber futures closed today as follows:- Number 1 rubber, Les

cents per lb. October

December Times says, the Americans have October/December the Battle Bul, the Financial November laid themselves open to the ac-January/March (1853) cusation that they are acting Apri/June without understanding of Bri- tain's special needs,

fall

And, since the export rubber to China is still banned. the paper goes on, the British have laid themselves open to the chargo not only of breaking the rank but of illogicality as well.

The paper "most

these slims up

develop- unfortunate ments" by fmping that things than they op- aro not worBo

pear. London.

•

47-474

United Press.

SINGAPORE MARKET

Singapore Sept. 18.

rubber Pricce of

futures closed today as follows!—

rubber, per Humber

lb. September October "oškin Number 2. rubber,

Bertember Number rubber,

Septemlior

Number 4 rubber,

September*******

Spot rubber, umbaled Flock crepe

The British Government, it No. With a nice boom on their hands the rugged concludes, mado no effective about the Battle Bill

last week, best wools were realists who run Britain's tramp ships have started protest

when a protest might have had slightly easier.

However, average fieces wools to plan themselves out of the next slump-just in some effect. It would be gully and skirtings were firm.

was strong at case the other planners in Whitehall let them down. of double felly if it had on prepared the American public Leading tramp ship owners, ships had difficulty in making or even official opinion for de- tails of dis trade agreements American and Australian mills have formed a Tonnege Stabill- profts,

with the Russians-Londeri the principal buyera-As-

Express Service.

Competition lower ratos with European,

sociated Press,

tion Association. Its object--

to compensate members against

losses from ship-owning,

VOLUNTARY. SCHEME Joining the association wi

D

1 pale crepe

10135-102 190210055

186-157

131 153

146-195

10015-1614%

120-lu

175-100 United Press.

LONDON TIN MARKET

London, Sept. 18. The tia market was stendy. Turnover was 80 ions, including Prices closed at the end of the officiat morning session as follows:

Consumption Off will work ko the old be voluntary. The backers noz NEW ITALIAN 25 tons for cash

Tobacco Up

Schlerwater plan for tankers only hope to pull in all the Bri back

In the black thirties, owners but foreigners as when there were more tankers thon oil carpés.

A

LINER

lipotu, buyers **Spot 'un, sullens.... Að Trieste, Sept. 18. Business dona ave ***11,600-ton Italian Three months un buyers

Naturinoms done'' at

dettlement

re-mastus tin,meliers

well.

Such

sare bad things. schemes They protect the lazy and the Amsterdum, Sept. 18. Many countries spend from (For the very young-Harry Inediclcht Going to

Always bon chancy busines three to five per cent of thoir Turnde Schletwater was

will ply between Italy and I total Incotes on tobacco ord-United Molissen boos when to But you do not get a healthy the 18, Victoria, which

merchant marine by

was launched here today.. paying ducts, the American "doleanto, arginated, his,

men not to go to do,

Thio- Econointe Co-Operation the top money-spinning States contributed 40 per cour

·the

Arst world tobacco

Mr Jolin Hatson, said today- ht sehetne.)

con-

famous tanker,

dio

The tramp owners will pay a forckers of the tabome · 18+ | Administration of the United |

of

Victoria which is owned Llyod Triestino Company.

United Prem

traded, 522

changed,

Dow Jones averages, ut end of the resclari follows:-

30 industrials

20 rails

15 utilities

40 bonds

The stood.as

274.38

83.77

45.84

179.18

--United Press,

German Debt Question

London, Sept. 18. The British, French and Unit- ed States Commission on Ger- many's external debts will meet here again on Thursday, it was authoritatively learned here to-

day.

The Commission will con- Hinue its study of the pros. posed settlement of Germany's external debts which it began in London, carlier this summer,

Germany's pre-war external debts are estimated at between £357 million and £714 million. In mid-November a full-scale conférence of 20 creditor na- tions will meat. in London to conclude the settlement-Re|- ter.

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Noa, 30066-0,

S. A. C.

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

For full particulars, please apply:

General Agents:

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

69 Connaught Road. West,

Péninsula Hotel, Kowloon.

Booking Agents:

Tel: 24292

Tel: 56416

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

CHIANG HUẬT HỒNG

340 Queen's Road. West, Tel: 36204

Paciffic Far East Line, Inc.

Fast Regular Teanu-Pacific Service

DIRECT

SAN FRANCISCO, LOS ANGELES

NOVERLAND

NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL AND ALL AMERICAN 4 GAMADIAN CITIES Guam, Marians Talands, Micron esian Islands - Regular Service direct or with transhipment.

MY Hutson President of Levy into post thered oil freight trapp outerie, Stambon the connue cad by the Exchange Rates "LING GRACIÓN Tobacco Amiciatta Incorporat rates, If bad unes come to the tack edy of Washington, said that tramping business again. owners Ropners, Runelman, and Hald, despite the reduced tobacco who lay-up their ships will be who have cung through ekump

compensated from the pool "consinption?! 4h some countries

the average" por cipitat com The scheme, els destined, to will giÞIN creased slightly in the past 20 cign, which in the past slashed of HOTELEMATIA yourseUnited Press

{/*/ freight rajen to, a level where I shipping coing

~initish ). Com-

•Was done

SAMOBORGW.LUÇRENDACK”,

this

“TRADE WIND":

From

Artivas

Kari · Francisco

tidpt.

San Francisco & Xon Artgelsa San Frances & Loa, Angeles;

„Nov.

·& Jos Angeles

okohama