1951-10-02 — Page 9

י

THE CHINA MAIL, TUESDAY, OCTOBER 2,

1951.

MESSAGERIES MARITIMES TREMENDOUS RISE IN US.

MOM

Arriving Leaving

Ontward for

LA MARSEILLAISE”, Oct. 20' "LEN GLIERES"

Oct. 21

Yokohama & Robe

Noy, Is

Homeward For

+"OYONNAX"

........Det. 24

Nov.

2

.....Nov. 24

Oct. 28 Nov. 3

Nav. 25

8. Africa & Europe

LA MARSEILLAISE”

+"MONKAY"

•

passengers & freight

Manila, Raigon & ·

Marsellies

N. Africa & Europe

† 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. Box 63, Hongkong

Queen's Building (gr. floor) Tel. 20651 (3 lines).

Gold Prices Break

On World's Free Markets

London, Oct. 1.

Gold prices broke on the world's free markets today, following Friday night's announcement by the International Monetary Fund that it will no longer try to suppress the free market.

The so-called European free price, which was $40.50 on Friday morning, fell to $38.50.tonight. The premium over the official price of $35 has thus been slashed by more than a third.

Rayon Mills

In U.S. Cut

Operations

Now York, Oct. 1. Most of Americo's major 10yon curtailed fabric

have mokers production because of the slow movement of goods. Several ef

the big mills have cut their work week do only three days, while others have cut to four.

mills are

In very late dealings, prices spemed to be partially rallykg. Gold in Zurich slumped from $40.75 on Saturday to $38.75

this afterncon, but partially rallied to $39.25 this evening.

In Paris, where the price was 507

franes per gramme last Friday, gold was freely offered today at 545 francs.

With this happening at a time when there are predic- tions that the franc must be devalued, experts are asking what would happen if it were actually, devalued and French- men unloaded the gold which buying as an devaluation

they have been insurance

against

of the franc.

Today's price weakness was The move reflects the heavy inventories of rayon cloth in the ascribed to fears of unrestricted South African sales rather than harris of manufactures.

Some smaller

re-of new competitors. Only portedly working only two days Southern Rhodesia was regarded

have as definitely week while others

likely to join in closed down completely.

the free market, Australia's Because of the depressed con- decision either way was de-

unimpor

4

dition in the toxtile Industry. ¡cribed as relatively

antant. Canada was given a 50-59 American Viscose Corp., nounced it will "drastically" cut chance production of its viscose and acetate textile yarns early October-Associated Press.

U.S. Textile

Market Quiet

int

New York, Oct. 1. The cotton textile market

LESS INHIBITIONS

A suggested source of com- petition with South-Africa - wns certain central banks. After Monetary

the

International

Fund. annoimcement

they may Inhibition have

about intervening in their local gold markets. They were always en- led to do so but they had some and they were compunction particularly sensitive to sugges- tions that their sales were And-

ing their way into the Inter-

was quiet today partly because national market. most of the converting finns

But late last week, when the were closed for the Hebrew

Fund's a more International Monetary holidays. There

WOR

was known to be in mill surrender optimistic atmosphere

however, quarters,

influenced imminent, the Bank of France

to Intervene partly by the recent Increase in appeared

to curb the Paris gold the pace or military buying and

more

a slightly better civilian inquiry boom. Its sales were regarded

for sheetings and print cloths in reflecting rising prices for row cotton. The Army was reported negotiating for 3,700,000 yards of sheetings.

The wool goods market was quiet. There were reports in the market that the milltary services will shortly issue an in- vitation for about 2,400,000 yards of worsted nylon serge cloth.

Rayon goods were dull- Associated Press.

LONDON STOCK

gaina.

index

134.5,

Pross.

Was

да London

attempt to

legitimate the franc.

No London's formerly

cliance

perfectly defend

that was seen free gold market- the most important in the world-would be allowed to reopen ---Reuter.

WALL STREET

CAUTIOUS

New York, Od. I. The stock market took a cau- tious but firm step ahead today with inning stocks and oil Issues leading the way.

WHE

gyod

the forward

but

and

INTERNAL ECONOMY

HONGKONG

SHARE MARKET

(Our Own Correspondent)

Business continues on

the

eluck side by comparison with

recent weeks, The total value of transactions registered this

morning was $221,925. Noon quotations were:-

AHARES BUYERS SELLERS SALES

BANKS

31 Bank

INSURANCEZ

Canton

Unte

Underwriter 4.15

BIC Fur140

DOCKS, ETC.

K. Wharf

N. P. Wharf

Dock

1340

240 760

Provident 141 14.00 1030

National Income Nearly Trebled Over 21 Years

Washington, Oct. 1.

Infringement Case Adjourned

New York, Oct. 1. Resumption of the trial of the #541,600,000; palont infringemeni and'

anti- śrust sult brought by Delfish Inventor Harry T. Ferguson against the Ford Motor Company and others scheduled for today was adjourned until Thursday. The adjournment Whe requested by counsel both nidex. Associated Prens.

GLASS

The US. economy has grown tremendously since 1929, the Government reported. The dollar value of total goods and service produced increased 172 per cent from 1929 to 1950, while national income rose 175 per cent in the same period.

of goods Last year's production services reached $270,000,000,000, compared with $103,800,000,000 in 1929. In terms of 1929 dollars, the Government said, the rise was still 80 per cent. IN JAPAN

agr

0.00

500

200 @ 94, 19 000

Shri. Dock Wirelock

3.31 30

1000 14.50 10

200 @ 30

100 % 30

LAND. ETC.

HK Hote!

NK Land

0 6.40 50

S'hal Land

1.75 1.90

Hannphreys 1145

UTILITIES

15.50 ...... גנדי

Star Ferry.

103

C. Light (0) 8.73

C. Light (N) 5.53

and

OUTPUT

in

for

the

National income last year was tween declining orders and pre- $239,000,000,000 compared with duction," said the September re-

Tokyo, Oct. 1. the part of

NAPA Business The $87,000,000,000 in 1929.

Gentral. Headquarters The Government

Economic and Scientific Section Sold

taxis Survey Committee. now take about 10 per cent from There has been a deeld: reported today that Japan's personal Incomes, compared with upswing in defence orders and production of ordinary sheet 10.35 three per cent in 1929. They production. However, much of glass

August reached an 10.50 take nearly 50 per cent from our civilian production appears all-time high of 421,500 canes. 14.20corporate profits, compared with be unsulted for conversion to The August production CX-

prezent delence requirement and ceeded

Cases by 17,800 per cent in 1929, General

arca blisiness

of our improved this

industrial previous high of 403,700 cams slightly in September, the firs.economy is beginning to muffer registered

preceding step-up since April, but inerent-frem lack of orders or from month of July. ing difcuttles connected with shortages of the controlled the defence programme threaten terials for orders on hand.

operation during August, Stocks some part of the economy in the "Faced with an ever-increas-nt the end of the month stood

National Asing break-even poin: and severe at

228,800 cases, an Increase last quarter, the

Purchasing Agen's cuts in fourth quarter material of 37,100 cases from July's sociation of reported.

alictinents, such manufacturers figure of 190,700 cases. "Production increased a lit: may be moving into a difeuli Headquarters also reported but there is still a wide gap be- last quarter.

01. moderate Increase in output of pig iron, steel ingets and rolled steel products during the June-August period.

1000 15.0

109 7 105

500 8.70

2200 83%

100.00

1000 8.75

3000

4,80

5.00 1000 2000

5.60

4.5

C. Light (B) #CO 1500 0

Electric

100 G 8.50

500 8.th

100 G 8.50

2115 211 Electric (8) 20 Telephone

14.00

800 m 212

INDUSTRIALS

Sement .... 13.50 14 200 13.5

Rope

STORES, ETC.

Dairy

Watson

17.30 11.50 800 9 17,40

22

L. Crawford 21,76 COTTONS

Ewo

Japs To Discuss Immigration

Pakistan Oil

Prospecting

ma- All

"Prices seem to be levelling off but are considered stable. Employment Is high, being up for defence and down for civilians."

PRODUCTION HIGH

さ the

furnaces

were

Page

R.I.L.

ROYAL

Data

in, Port In Port

In Port

3th Oct.

3th Oct.

12th Oct.

13th Oct

trnd Oct.

23rd Oct.

24th Oct.

End Nov.

Salp

INTEROCEAN

LINES

*TUKAMPER" "STRAAT

MAKABBAR”

APTAIMAN"

VAN HEUTSZ" "TEGELBERQ"

*TJIWANGTM" *TJIESAR” **TJIBODAS" "TEGELBERG” "THBADAK“ "STRAAT

ARRIVALS

MAKASSAR"

"STRAAT

MAKASSAR” "THIKAMPER" "VAN HEUTSZ" "TRGELBERG"

TASMAN "TJIEKSAR"

3rd Oct.

3rd Oct. Ith Det.

8th Oct.

12th Oct.

14th Oct.

17th Oct.

24th Oct.

24th Oct.

"TJIWANGr" "THIBODAG "TJINADAK"

4th Nov.

"KTRAAT

MAKABAR"

From

3. Africa a Blagapote

Holland (Maldèn Voyage)

Belawan Doll, Penang," singapore a

danti

5. Amerter. 5. Africa, Singapore d

Manila

„Vinegarar, Jays Parts & Singanora

Japan

Japan Porta

Japan

Java Paris, „Matkatar & Ringaporn

Japan

SAILINGS

Japan Vorle Jahnu Ports

To

Singapore, Penang & Delawan Doll Japan Portu

Singapore, Panang A Delawan Delt Manila, Singapore, K. & 8. Africa

B. Ampsies

Singapore, Jave Paris & Mackinar Japan Ports

Japan Perta

Manlis, Singapore, S. Afries & $.

Amarles

General Agents: HOLLAND EAST ASIA LINE

Data

4th Oct.

ARRIVALS

Ship

"NOOCKENK" PARENDAKENK" 5th Nov. "ARENDEKEZK“ 2nd werk Nov, "KIRLDRECHT"

11th Oct.

the

6th Oct. 15th Oct.

Sth Nov.

The comparative figures are outlined below in metric tons: fron, March-May 746,175; June-August 314,290. Rolled June-August 1,244,994;

June-August 1,715,180.

Labour troubles, material steel sherleges and slow consumer 1,245,327, Steel Ingots 1,649,- buying harassed business and in- 487; dustry last week but overall Cast and forged steel 65,250, production remained high. June-August 60,741 United

London, Oct. 1. Chaudhri Nazir Ahmed Khan, Pakistan's Minister for Indus- Walk-culs threatened more Press, tries, said here tonight that the than a $1,000,000,000 in defence Pakistan Government had very production, Material shortages recently given several foreign

resulted in lay-offs in metal in

oll concerns a number of con-dustries. Stow consumer buying cessions to explore and develop brought idleness to texille cen-

oil in Pakistan.

Defence orders and plants in

He disclosed in an interview many Industries, however, sent

shares

be

WOOL PRICES

INCREASE

Melbourne, Och 1,

The Pakistan Govern- Crude oil production for in- įteday some 15 to 20 por cen!

of Controller

capital stance was at a new record for above Wednesday's closing. ---- would

shortly

850 barrels, compared with . 6,-

SALES finalising the basis on which this the third week in a row6,217,- United Press. new oll company would operato 202,050 the previous week and in Pakistan.

5,825,500 a year ago.

Freight carloadings hit

N.Z.

.

to the conclusion law 30 per cent of the shares the highest since last October today were fully 12 pence per

*HOOGKERK" "ARENDSKERK" “AREŊUSKERK"

From

Japan

Europe & Singapore Japan

Europe & Tingapore... »,

BAILINGS

To

Manila, Bintapara & Kuropa Jagan via Mantla

Manlis, Singapore, & Europe.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TOIL**

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

NEXT SAILINGS

M.S. TREIN MAERSK"

3

M.S. "PETER MAERSK"

M.S. "NICOLINE MAERSK"

that the Burma Oll Company | overall industrial and financial The competitional wool sales, was in the process of forming figuros to record or near-record stimulated by the resumption of kyo, Oct. 1. the Pakistan Petroleum Com-heights,

American buyers, fed prices A Brazilian Mission will dis- pliny. cuss with the Japanese Government's ment the possibility, of. In-

Auckland, Oct. 1. migrating Japanese to Brazil, a Government source here said

Prices at the Napier sales today,

The talks

Stating that under Pakistani were described as

pound above the last major preliminary

agreement in any oll venture were to be This was an indication that raw sales at Christchurch and of an immigration after

the Japanese

pence Pakistani, the Minister added materials were moving to the pence above the last Napier factories and goods were going sale in August. The top priec thut the Pakistan Petroleumi treaty comes into force.

been

to market at a rapid pace.

was 72 perice for lincoln cross- given par- The

Jiji news agency of Company had

Engineering awards were the breds and one lot of coarse Japan reported today that Mr mission to explore an area in highest since last July. The total crossbreds fetched 70 pence. Roberto Alves, Secretary

to Baluchistan in West Pakistan, It President Vargas of Brazil, wag was about to begin operations was $334,002,000 compared with United Press.

London, Oct. 1. coming to Tokyn with two other in the Sul area near Jacobabad, the previous week's $232,081,000,

The Ministry of Materials to. oficials-Reuter.

in Baluchistan, but drilling there and $244,011,000 a year ago..

day, reduced the price of Im- had not yet started,Router.

ported good soft pig lead to the 5 sterling to 175 sterling per United Kingdom "consumera by

on Unital Press.

Exchange Rates LONDON TIN

thin

Business was done in the toes! unoMetal exchange market. morning at the following rates:-

15.75

Sterling note (per £1) .... U.B. Dollars (per $1) Indonesia guliders (per 100).. Blar tica (per 100) Singapore (Straits) FIC plastres (per 100)

GAS

3.30

MARKET

London, Oct. 1, The tin markel was strong. 27.30 Turnover was 110 tons, in

190 cluding 5 tons for cash.

10.30

LEAD PRICE CUT

Prices closed today at the end of the official morning

session as follows:

Spoi tin, buver Wellington, Oct. 1.

Spot tin, eller Following up the important Businem done at Napier sales, fleece wools have Three-months in. buyer advanced 35 to 40 per cent Three-months un, selfor

Business done at and lamb wool by 15 to 20 per settlement cent-United Press.

1000 1,002% 1,000 935

33744

035-130

United Press,

Liberia's Iron Ore

Shipments Run Into Difficulties

Боль

been-

New York, Oct. 1.

tho

BUSINESS LOANS

The nation's steel mills ran at 102.1 per cent of rated capacity The previous week, their opera- tlons were at 102.2 per cent and a year ago, at 100.7.

Business Loans hit $19,938,000,-

000, a record for the third suc-

Egyptians

cessive week. Borrowings were Deal well above the previous week's $10,842,000,000 and way over a year ago's $15,517,000,000,

Seek

in Bonn

Bonn, Oct. 1. Hamed Aki Pastin, the Egyptian The money being borrowed was for varying purposes but a Economics Minister, today dis- good part of it was for

Wistinghouse

ci

West German Electric Pansion.cussed with the

Cor-Agriculture. Minister, Dr Wilhelm

the announced a $200,000,- Niklas,

possbilities poration

ex-i 000 expansion programme German-Egyptien agricultural ce-

1053.

tending through

It was operation, a German spokesmen designed to increase productive sated. capacity by 50 per cent.

The Ministers also studied the Soverai clectric power pre-exchange of exports. Ald Parha ducers reported plans for new was expected to leave for Briman construction or speeded up tomorrow on his way to Copen- schedules already blue-printed, hagen. Over the week-end he power shoringe in the Pael-received German Industrialies, and Governmeni where there is exporters Be Northwest, heavy concentration of power ofhelais-Reuter.

Α

gobbling aluminium

planis,

brought Interior Department and

Congressional pleas for building Singapore Rubber

fuel-thed generating plants in that section.

DARK SPOTS

The dark spots in the economie picture included labour trouble! in varying industries in scattered

More than 18,000 aircraft, rub-

*

Futures

Singapore, Oct. 1. Prices of rubber futures closed here today as follows:- Number rubber, per lb.

154-15433 23231-10315

October

November

December

Number 2 rubber,

October

Number 3 rubber,

October Number 4 rubber,

11055-14031

14785-14435

October

13714-14 Spot rubber, unbaled... 104-108 114-116 Black crepa

160-18 No. 1 pale crepe

United Prest.

New York Sugar Futures

Bow New York, Oct 1, World sugar futures closed unchanged to 1 lower, con-

Shipments of Liberian iron ore to feed section. MARKET

American steel mills have been curtailed by load-ber and ell workers were affec London, Oct. 1. It was slow making up its ing problems in Monrovia, industry sources said, ied in key New Jersey defence plants. A mariiime strike thecat- Developments in the Anglo-mind but once

but these difficulties are expected to be overcome ened. A walk-out curtailed con- Iranian oll dispute prompted movement got underway there

struction at the Paducah, Ken- no retreating. Most ad- by the end of the year. traders on the London wiock was

tucky atomic plants. were fractional

Material shortages were hitting exchange today to proceed with vances

there were a

fair number of First shipments from the industry sources say there is caution.

Price changes in British do- gains of around a point.

mountain of fine ore located 30,000,000 tons of it. The rich an increasing number of indus- discovered trier. Many of the larger automo- Activity

around deep in the Liberian Jungles deposits were rot only mestic stocks were alight and

Company

manufacturers planned tem- bile were started last June, after a by a Dutch Mining irregular. Selected foreign bonds 1,400,000 shares.

porary closings because of lack 38-mila

built in 1994. railroad Most traders took an optimis-

of were stronger. Some gold min-

consumer buying. the through the almost impene- Three large rivers and

Jacob Potrifsky, President of marked up minor tie view of the long range ing stocks

trable area to haul the ore te jungles separating

ore future Aguring the huge detence

the sea. A number

of other from the sea delayed develop the Amalgamated Clothing Work- The Financial Times dully programme would make for con-

ilnued

shipments have earnings of London stocks

made ment of the project until after is of America, told President vince,But ships are

scarce, the war. It was completed by Truman there was a great deal

In the clothing today al Associated dividendsAssociated Press. oft

Industry because. unwilling to use their vessels York firm.

tracts. The deposits form a nearly buying as expected;

Prices Retall buying ing a whole was, Hand-loading is perpendicular ella of Iron ore the only method so far ayall which is a mile long and varies about land a little below the Contract No. 4 (World)

level with the previous follows Lable,

from 30 to 335, fest in height.

January (3652)- reaches corresponding week of 1950, Mechanical leaders are ex- When the project New York, Oct. 1.

The wholesale food price Index May at Mon-capacity operation, about 1,000, Closing -foreign exchange pected to be dues and the 000 tons of ore will be ship edged slightly higher for the Spot

rovia before January, (Britain in dollars, others nors of tour 22,500-ton ore ped annually: It will be load-first time in seven weeks. The ships is due to begin carrying ed on ore ships at a rate of Government raised her prices of de the butchers counter an overage the ore to the US at about the 3,000 tons, an hour." čame time,

Experts have estimated that of 1-1/2 to two cents, a. pound.

New York, Oct. 1. This Liberian Dre to said to this project and other develop. The rebovery from the Sumer bethe richest in the worldments in Liberia will boost, the mer lull, was not coming a swift-Copra was quoted today, at 25% of a cent' richer even than the. Kicia country's trade by 10 per cent fy as many expected but' econo- $187,00 to $100 per pound vaara mines in the Arelle Cir- within five years, with 1833,- | misle said last week that recent naked. Coconut oll was quotes clo of Sweden. It reported 000,000 in exports by 1930.oth pots should be about ler at 13% cents a pound asked..

málnaleđe-Associated Press ? 3 United Press. toʻke:08,625' per cent pure. And Associated Press,

Rice Output

Be Higher

To

N.Y. Currency Quotations

Singapore, Oct. 1.

canta):

Delegates from 21 consumer · Canada and producer countries attended | Belgium the third meeting of the Con-tatian sultative Committee on rice Portugal hero today.'s DAN

Bracl Tiritala ..:: Several producing Countries Frenop were expected to report in Maty

Sweden creased rice production this Mexico year.-flouter.

048144 100%

20.30

3.45

5.50

51.79-16/14

.18% of a cent

10.30 11.47

dech Prom.

and shipowners are said to be a Rotterdam 'firm and a Now of unemployee acople aren't with sales totalling A

for this trade because of load-

.March

closed today

пя

-5.14 bla

5.14 bid

wtfnited Prep.

Copra Quotations

ARRIVALS FROM 'U.S.A.

M.S. "LEXA MAERSK" M.S. ANNA MAERSK" M.S. "LEISE MAERSK"

Oct.

Oct. 16

Oct. 81

Oct. 18 Nov. 14

Dec. 2

For Freight and Further Farticulars please apply to:-

-AGENTS:

JEBSEN & CO.

Pedder Building

Tel: Nos. 86066-9.;

PATTISON-ORIENT LINE

... "LAURE PATTISON"

LIMITED

12-14 Queen's Road C.

Due From:

Kabo, Oct. 10th

Chinese Agents:

Balls For.

Direct to Puson & Japan, Det. 14th

Tel: 26346,

OVERSEA. CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W. Tels: 25646, 26127 & 81110

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