1951-09-26 — Page 9

THE CHINA MAIL, WEDNESDAY, SEPTEMBER

26, 1951.

MESSAGERIES Y MARITIMES Sterling Area Ministers To RIL

M

M

Arriving Leaving

Outward For

Nav, 11

Nov. 14

**"LA. MARSEILLAISE" .Oct. 20

"LES GLIERES"

"GIALONG"

+"OYONNAX"

**MONKAY"

"LA MARSEILLAIŠE”.

Yokukama & Kobe

flumewaed For

Phanri Raton

N. Atrira & Enrage Manila, Saigon &

Marcilles

Use Of Copper Restricted

Paris, Sept. 25. Member countries of the O.E.E.C. (Organisation for European Economle Co-Operation) have decided to meet the world shortage nerdest for "Copper, defence purposes. by restricting its une,

Rept. J

...Oct. 21

Nay.

៨៧, 25

Nov. 1

of

Nov, 20

Nov. 23

N.. Africa & Europe

passengers & freight

على

† freight for Saigon, Port Said, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam,

Subject To Change Without Notice

CIE DES MESSAGERIES MARITIMES P.O. Rox 53. Hongkong

Queen's Building (gr, floor) Tel. 20051 (3 lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

I

M.S. "TREIN MAERSK"

M.S. "PETER MAERSK“

M.S. "NICOLINĘ MAERSK"

ARRIVALS FROM U.S.A.

M.S. "LEXA MAERSK”

M.S. "SALLY MAERSK"

M.S.

"ANNA MAERSK"

Sept. 30 Oct. 16 Oct. 31

Oct. 17.

Oct. 20

Nov. 13

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building

Tel. Nos. 86066-9.

NY Cotton EXCHANGES

Futures

New York, Sept. 23.

Prices of potten futures closed

today as fellewg-

Spol

Culober

December March 1952)

May

"July"

October December March 178531

37,30

34.50

30.37-35.40

36.30-30

30.35-36.30

- 4-3-11

34.49

IN NY

New York, Sept. 25. (dollar)

C'anatia England-felal

uno letal

2.79-15/16

2.47 biel/- 2.50 neked 2.7915 30-day futures

2.7024 D0-day futures

nominerance (tranet

34.45

-United Pres

NEW ORLEANS MARKET

West GenBan

Deutchemark

As from October 1, the ure of copper alloys will be protiblled in the manu- facture of more than 200 the O.E.E.C.

articles anitounced today.

may

Member countries grant exemptions In cares where copper is needed for repairs or essentia) tech- nies work-Reuter,

Japanese Issues In London

London, Sept. 25.

Japanese bonds

"A" (4. cf 1800) (42. et 1010) "C" (35, f 1907) "p" tas, et 1934)

(54. cf 1934)

Discuss The Empire's

Dollar Crisis

(OUR OWN CORRESPONDENT)

London, Sept. 25.

A meeting of Sterling Area Finance Ministers will be held in London at the beginning of next January. Mr Hugh Gaitskell, Chancellor of the Exchequer, announced this at a Press conference this evening.

Mr Gaitskell said the Ministers would deal with the dollar problem as it affects the Sterling Area as a whole. This implies that one of the chief topics for discussion will be the proposal to cut dollar imports during the present dollar short-

age.

Mr Gultskell said these cuts would affect the Sterling Area as a whole. No decision had yet been reached as to the type of Imports that would be restricted was under re- but the matter view.

The Chancellor will make a statement on the Sterling Area Kold and dollar reserves - morrow nigght. This will show

"substantial" that a developed in the

60

57

POTA

775

of this year.

$17

05

deficit third quartersen'atives

bilateral this

already

of the four

on

HONGKONG

SHARE MARKET

(Our Own Correspondent)

Business done on the Sock Exchange this morning was valued at $350,095. Noon quota- tens and the morning's transae-

tions

HARES BUYERS SELLERS RALES

DANKS

IK Dank .. 1530 1360

INSURANCES

Uniors

700

HK Fire.... 133 · 130 DOCKS, ETC.

K. When

N. Pt. Wharf 8.70 Dock

R.I.L.

ROYAL INTEROCEAN

Data

2013 Heat. Zani девя 2001 Hept.

20th Sept.

Bih Oct

13th Det.

16th Oct. 20th Oct.

2nd Nov.

1st Oct. 2nd Oct.

3rd Oct..

Ship

ARRIVALS

"TJTJALENGKA" "ТНКАМРЕК" "TARMAN"

"STRAAT

MAKABBAR" VAN BEUTSZ" "TEGELBERG"

"TUWANGI" TJIBEBAR"

*TEGELDERO”. "ATRAAT

MAKASSAR"

LINES

From

Marakane, Jave Poria & Aingapore 8. Africa & Singapore

Belawan Dell, Penang, singapore d Halgon

Holland (Malden Voyage)

1. America, 6. Africa, Singapore i

Manila

ALECKEKET, JAYA Porta a Singapore Japan Харил

Japan

SAILINGS

"TJTJALENGKA"

"STRAAT

MAKAIBAR" "THKAMPER"

"VAN REDTE2" *TEGELDERG "TASMAN

"THIWANGI"

7th Oct,

With Det.

·12IN Oct. 17th Oct.

.3 a 1540

18th Oct..

TJIBESAR”

4th Nov.

*STRAAT

МАКАВЯАП"

10 @ 700

200 19

Singapore, Java Porta a MachSTAT Japan Poris

Japan Ports

Singapore, Penang à Belawan Deli dapan Porta

Singapore, Panang & Belawan Doll Singapore, Java Porte & Macaviar Manila, Singapore, E. & 1. Afeten

America

Manita, Singapore, H. Airies *

Ameries

General Agents: HOLLAND EAST ASIA LINE

Dale

3th Oct.

2300 0.75

Provident"

S'hal Dock ..

145

3.50

15 690 ŝi 14.00

lith Del.

Wheelock ... 2731⁄2

1000274:

1 Nov.

LAND, ETC.

HK Hotel

11 Land XD 511 Shal Land 1.65

55 700 911

7 Ort.

13th Oct

Bib NUT.

schedule and to have reached the third points on its agenda.

It is now likely to end Thursday evening.

The delegates stin have lo of manufac- discuss problems tured goods and survey future prospects of British exports.

Ministers and Colonial repré- UTILITIES

ure

ulso

Tram holding

...... 10.5 10.10 1000 € 19.20

1500 10 discussions during

Star Ferry

100 week un various raw C. Light foi 821 8.83 2100 4 8.90 To a large extent this defcit material questions of Individual

C. Light (N) 4.60 37 1000 was dee to temporary factors concern.

1000 My Gaitskell said. Scasually,

C. Light (0) 8.65 8.20 1000 2212 300 The

the least quarter was

Electric X Gordon-Walker,

Electric (M) 201 favourable of the your. We had Commonwealth Relations Secre-

Telephone 15.26 imported greatly inercased tury, and Mr James Griffiths, amounts of dollar goods and Colonial Secretary, will prob- INDUSTRIALS

Coment. 13, 14.10 1800 mude "some specially heavy

Rope non-recurring payments." Loxy attend the final sessions.

They returned to London to- * the Persian oil had been drain on the dollar reserves.

Fortunately, In other activity in the forelan

the Chancellor collar Kroup in New York, went on, our reserves, though Australian issues gained narrow-not as large as we should like tv 10 hold demand.--United them to have been, were built Press and Associated Press,

Consel

were

In New York, Japanese bonds lower Lit] irregularly sentteril vales in the foreign dollar section, Several Issues lost functionally to more thin four

oints with Orient Development 5-19s dropping 4-% on sale of

ngle bond,

NEW YORK MARKET

·

New York, Sept. 25. Railroad stucks, radio and mining shares léd a general ad- vance in the stock market tu- day.

Prices moved ahead tractions

to

Mr Patrick

day from the Victoria Falls, STONES, ETC,

Dairy

Rhodesia, talks on a federation for Central Africa-Reuter,

•

up strongly in the last 18 months and were In July two and a half times above the level of two us the Save years ago. This essential element of time correct the situation.

to

Unions Not

In Grip Of The Reds

19, 600 18.71

17:40 173% 200 or

ARRIVALS

Ship

From

Japan

Rurope Singapore

To

"HOOGKERK” "ARENDSKERK”

*AREND KERK"

Ind werk NGV, “KIELDREENT"

Зарай

Europe & Aingapore

SAILINGS

"BOOGKERK" "ARENDSKENK"

“ARENDAKERK”

Kianila, Biorepare & Europe Japan via Minisita

Manila, Singapore, & Europe.

SÁKINGSERBIEDINGSTELEPHONES):260(3) TOL2801TAS

PENINSULAR

Watson ..... 2235

COTTONS

Ewo

100 2

........ 205

Agreement

On Mails

Washington, Sept. 25.

RAW MATERIALS Debling with the question of to around a point. In some in-Sterling Area raw materials Mr

San Francisco, Sept. 25. stances the

The United States and Philip- gains

Gaitskell said he had discussed ranged

Mr C. around two points, but they with United States officials in

P. Dave, assistant pires Post-Office Department were exceptions rather than the Washington a "programme of Secretary General of the All- agreed today that a mail agree rule.

steady purchases by the United Pakistan Confederation of La- ment between the two countries SAILS: The uptum1

after the

Area raw bour, addressed the 73rd annual will be divided between the States of Sterling

of the American Philippines Air Lines and the market got off to a hesitant start materials at reasonable prices, convention

the

and other measures designed to Federation of Labour and said American airlines operating to and activity increased us

Communists do not have the Islands. The advance got rolling.

reduce the impact of external the

on the trade uniois volume

was around 1,700.000 factors upon the economy of the any hold shares,

ttle better then on United Kingdom and our defence movement in Pakistan. Monday.

In late trading

Came

Nickel Plate was un as much as-three-points at one time and Union Pacific gained up to 1%. Other active rails were ahead fractions.

programine."

Mr

Gaitskell said that

ald

NOS

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "COREU“

NOTICE TO PASSENGERS

The Post Office Department said the agreement, effective BAGGAGE:

PAL It was the responsibility of October 1, provided that the Asian countries to develop will carry 200 kilos of American their potential resources with air mail to the Islands monthly. and Pan American Airways not necessarily imply a price fixing scheme. What we wantedwill and vigour, he said.

Northwestern Air Lines will most was an assurance

"Asian trade union leaders bring a similar amount from the regular buying of Sterling should not only fight the ecoPhilippines to the United States

for

UI

thenomic

battles of organised monthly, workers but also educale workers on genuine democratle

The Department

the

menace

sald

the Answering a question, Mr lines so that they are in a post- agreement will mean Improved Galtskell said no formal tion to fight the

of service to the US through-using machinery existed for fixing a international Communism." hex fights weekly from Manila

rubber old "reasonable price"

convention. United compared with the present two

by PAL but he thought there would be Press, Many of the advancing issues no great dimculty in establish- their initialing such machinery If it be still after stcod fractional gains, But in most

if

extend they didn't their advance they didn't back their high points away from

Australia poundi “

New Zealand (pound) South Africa (pound) Belgian ranc) Denmark kronel

2.22 2.721

a scattering of gains of as much as two points cropped up. chiefly the ratt and mining sections.

In

2.80

0199

.1155 .0023

Arca raw materials by United States.

4.20

Holland tulideri

.2030

*11063

Norway (krone)

.1403

Spot

October

33-36.37

Portugal tendaj

0740

December

3.34-30.2

Spain peseta}

0263

Sweden (krotie)

.09335

March (1952)

Among those issues up : much two points at times were American Smelting. Zeni'h Radio, Reynolds Metais Aluminium Limited.

cara

| Switzerford-freie

20017

35,80 bid

34.51 bil

MIDDLE EAST

Expt pot

03

tran trial

Tran (kar)

03125 2.01

cases,

Turkey (test

.5013

LATIN AMERICA

Argentine--official

0310

Brail teruzeiro)

atler

.05,50

0150

ly higher ground.

.4023

Gainers Included

ན་

Cuba (pere!

1.00

Texted (peso) Port-free Uruguay (peso)

.1155

0430

4075

Venezuela (bolivar)

2003

May

July

October

December

March 053)

34.36 d United Press.

EGYPTIAN CROP

Wahington, Sept. 25.

A record cotton crop for Egypt for the 1951-52 season is forecust by the United States Cle-tree

Department of Agriculture.

An estimated

of 478-pound

predicted.

2,280,000 bales weight each Is

Columbla (peso)

The largest previous Egyptian FAR EAST

cotton production was 2.241,000 India trupee) bales, grown in 1937, the De- Pakistan trupee)

Hongkong said. Last season partment

bales, Nerrand East Indies 1,702,000

Singapore Josan

Egypt grew

while the previous crop was 1,- 763,000 bales.

The survey estimated Egypt's acreage this year to colton would compared with be 2,255,000 2,050,000 acres just year. Even with the expected heavy cotton: crop this season, Egyptians did not expect it would be sumelent to meet world demands, survey said, Reuter,

2102

.2030

1759

3010

3303

300 yen to US1 United Press.

elther.

come necessary.

US Steel remained steady terials, Mr Richard Stokes, told

a brief sojourn into slight- Commonwealth

American General Westinghouse, Can, Electric, American Woollen and

International Paper.

declines

were

A NECESSITY

London, Sept. 25. Minister Britain's

for Ma

in delegates London today that the produc- tion of all. vital raw materials must be increased..

Their

SPECIAL NOTE:

It desires to have specified afr EMBARKATION:

In mail

Manila originating equally divided between

Associated Press.

Pan

Rubber Futures American and Northwestern.-

In Singapore

Slugapore, Sept. 25. Prices of rubber futures closed today as follows:-. Number 1 rubber, per

ib. September

Gctober ......

prices must also be stabilised at a reasonable level. Number 2 rubber," Among the Kennecott Copper. Johns Manhe added, according to a usually ville and Certainteed.

September

Number 3 rubber,

rellable source,

September The Curb market was mixed

Mr detive issues

Stokes was addressing Number 4 rubber, with most of the

September the gainers. Advances the

Commonwealth secret amoed

Spot rubber, unboled Bond and Ministerial conference on supply | Black crepe Electric

pale crepe Share, Fansteel Metallurgical and, and production being attended No. 1 Molybdenum.

The declines in- by Ministers from nine nations cluded Sherwin Williams, US and over 35 British colonial Radiator and Ginnt Yellow territories and areas. Knife,

Dow Jones Averages:-

Industrials Rails Utilities

Stocks Grain Prices

the In Chicago

Trade Minister

Visits U.S.

New York, Sept. 25. The Norwegian Trade Minister,

Mr Erik Broffess, arrived today for a two-day stay before going

I

157-137 15375-456

162-155

LONDON TIN MARKET

London, Sept. 25.

Prices of tin clased, today at the end of the offelal morning

34035-1495 Bession as follows:

141-143 -10035-15716 117-18 102-108

United Press.

The materials were copper, 272.24 rubber, sulphur and pyrites, tin, 80.03 tungsten and melybdenum, wool 40.31 and zinc.

99.93 coon, feud, manganese, nickel New York Sugar

Associated Press.

Futures

New York, Sept. 25. The general view of the con-

Domestic sugar futures No. 6 fcrence was that Increased pro- duction of these materials offered closed ene to five lower. Sales Chicago, Sept. 25.

scope but depended on were 09 contracts. Prices of grain futures closet Seeds And Oilsal and manufactured goods November

such as farming equipment. lodny as follows:--

New York, Sept 25.

World sugar Whrat price per bushel

Increased production of raw the seeds and oils Spot

market closed today unchanged materials depended very closely closed unchanged to one higher. with the following oxceptions:-- on the supply of manufactured Sales 37 contracts.

1.74% 24

Reptember December March 1952)

May

Corn

Spot September

2,40 2.4444-14 2.404-6 2.403- 24211

1.302

March (1032) ∙MBY.

1.785- 1.00- 1.81

nye

Senteinber

GREE

1.76 asked

RAI-84

to Washington for talks with US. December officials.

Mr Brolloss was a member of the Norwegian delegation to the July NATO cenference in

Ottawa. After the conference he spent July several days visiting relatives Beptember

New York four-per 200 tb, Sack, near New York. He will represent | 912.40.- United Press. his Government here on Thursday

for the inauguration of Norway

Ilouse-United Press.

Popper Stoadior

Prices in

Tung Oil, in tank cars, F.O.B.machinery. New York, per Ib. .30-36% cents.

New York peanuts, Virginio, Medium, por lb. F.O.B. shipping point. 18% cents.

cars, Linseed Oil, in tank New York, per ib. 17.7 contr United PresA,

Metal Prices

March

• March May September One Commonwealth' delegate law suger spot described the position as a vicious circl?, since raw materials were needed to produce equipment for producing more raw materials.

WILLING TO HELP

3.37 nominal

5.32 bid 5.37 nominal futures No,

5,09

5.02 nominal

5.09 bid

5.44 nominal

ASOCIATO Prem.

Wool Prices

Increase

Melbourne, Sept, 25. Some wool prices rose at the Melbourne wool sales today and no decreases were recorded.

Spot tin, buyers Epot tin, seller

103714

$40

Businem done at

LHO

Three-months tin, buyers

Three-months tin, sellors...

DOO

Business done at

B03-090 040

-Unlied Press.

Seltenient

Exchange Rates

Business was done In the local thia unomiclat exchange market morning at the following rates:- Sterling note (per £11.

18.73 U.S. Dollars toer 31).... Indonesia autlders (per 100) Slain leals per 100) Singadore Birgital FIC matres (per 100)

FRIDAY the 28th September at 12.00 Noon for the United Kingdom via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must bo sent to the Hongkong & Kowloon Wharf Co.'s Godown at NO. 2 Gate, CANTON ROAD ENTRANCE BY NOON on THURSDAY the 27th September.

With the exception of hand packages curried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.

Will take place on FRIDAY the 28th, September between 0.00 A.M. and 11.00 A.M.

SOUTH CHINA MORNING POST

H

3,50

20,00

1.70

THE CHINA MAIL

SUNDAY POST-HERALD

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ASK FOR PARTICULARS AND RATES COMBINING THESE LEADING NEWSPAPERS

Paciffic Far East Line, Inc.

Fast Regular Trans-Pacific Service

DIRECT

BAN FRANCISCO, LOS ANGELES

OVERLAND

NEW YORK-ÇİNÇAGO: DETROIT-TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES

Guam, Mariana Islands, Micronesian 'Islands -- Regular. Servios direet of with, transhipment.

Vessel

Mr Stokes, the chief British вілес spokesman, has Insisted: the talks opened "yesterday: on an active policy. of Increased production within the Common wealth to meet the growing de New York, Sept. 25.

"TRADE WIND". mands of the next 10 years Non-ferrous metal prices:

He Copper-34 cents a pound,

has told the Comman- Merino fleece skirtings wero “SKA SERPENT" New York, Sept. 23,

countries not to hold ove per cent more expensive. L. LUCKENBACH": wealth market Connecticut Valley. B The black pepper

Lead-17 cents a pound, Now back through fear of supply be- while comebacks and crossbreds developed a atendier undertone

"EDWARD LUCKENDÁCH" cause Britain was willing to were the same as yesterday.' Copro was quoted today, at although trading remained on

pound, help in suitable cases. $182.50 per short ton asked. the quiet aldo.

Competition was good both Coconut oil was quoted today livery was quoted at $1.07 bid

The conference was reported here and at the Bydney salas.---- al 13 cents a pound asked and $1.08 asked a pound Tin-$1.03 pound,

today to be working ahead of Reuter. United Press.

United Press.

Copra Quotation

New York. 'Sept. 25.

York.

Zinc-17 centa October do-

East St. Louis,

York 12ociated PresI.

· Nów:

Tron

Arrivin

San Francisco

Tranciaco

Oct. 30,

Nov,

Ban Frencieco

San Francisco

Nov,

Dec.

Hallo,

For

Oct. 21 San Francisco & Los Angeles,

· Nov. 5 Ban Franciaco & Los Angeles

•Nov. 23:

|Singapore & Djakarta

Dem

Ben Tranciscn' &r: Los Angeles;

via YokohamINA JES

Fer. falt pakiloufarn onll-Unlied Bates Lines Co., General Agents, Queen's Bulking, Tol: X3195,