1951-10-12 — Page 9

THE CHINA MAIL, FRIDAY, OCTOBER 12, 1951.

MESSAGERIES MARITIMES STERLING AREA & JAPAN

MOM

**LA MARSEILLAISE"

"LES OLIERES"

Arriving. Leaving

Outward For

.Nov.

Oct. 20 Del 21

A

Yokohama & Kabe

Nov

**

Homeward For

"OTONNAX"

.....04.

21

K

0+1

Nov.

#

N. Africa & Europe

3

+"'MONKAY"

Nor

74

Nov. 25

passengers & freight

LA MARSEILLAISE"

Mantis, Raigon &

Marsollbea

N. Aften & Europe

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

Rotterdam.

Bubject To Chan ze Without Notter

CIE DES MESSAGERIES MARITIMES

P.O. Box 5, Hongkong

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

Bolivian Attitude

Said To Be Cause Of High Tin Price

London, Oct. 11.

The Financial Times in an editorial asked to- day "Why has tin recovered from £800 to about | £1,000 a ton despite the continued abstention from buying by America, the largest consumer?

[

Spectacular Trade

Trade Increase

Pound Soars On

Black

Market

Paris, Oct. 11, The Pound Sterling to- day reached its bighers poft on the Paris black market since Sterling was devalued op September 20, 1949.

notes cose

All foreign spectacularly, the Found by 20 frames to 1,000, the dollar to 428 and the Swis frane to 09, compared with 421 and 8614, their respen- five records for more than two years,

The Bank of France's notion in raising discount rates, considered In Bourse eireles us a move against inflation. was one reason for the rush.---Reuter.

Rumours On Fate Of Franc

"Settling Down

Unlikely Period" Of

Six Months Planned

(FROM OUR OWN CORRESPONDENT

London, Oct. 11.

Trade between the Sterling Area and Japan is not expected to show any "spectacular" increase as a result of the recent payments agreement, a Board of Trade spokesman said today.

It is intended that there should be a "settling down period" of about six months in order to see

how trade between the Sterling Area and Japan HONGKONG

develops under the new payments arrangements.

Until this period has expired it is not intend- ed that any formal trade agreement between the United Kingdom and the Colonies, on the one hand, and Japan, on the other, should be concluded.

for

tradc cannot component"

bc a l of the

is that is

bilateral Japanese NegotiationS agreements between the over- "missing seas Sterling Arca countries enci Colombo Plan.

"The inference Japan may, however, be held.

The Board of Trade denies the relative backwardness of recent reports from Tokyo that Japanese industry, not its enter- bllateral negotiations between prise, which is reasor for concern Japan and the United Kingdom in studying the Asian scene and

of the will be held in the interests anc Colonies

Western Japan next December

countries in Asia," the Guardian concludes.

So far as trade between this country and Japan is concerned it is Def experter that there will be any large expansion of British exports above their re- cent "modest level.

Although Britain

PAKISTAN & JAPAN

Karachi, Oct. 11. Pakistan's trade with Japan in 1950-81 showed a favourable no balance to Pakistan of 135,934,-

SHARE MARKET

(Our Own Correspondent) Business done on the Stock Exchange this morning was valued DE $604,008. Noon quotations and the morning's transactions:----

SHABES BUYERS SELLERS SALES BANKCS

HK Bank 1830 1640

INSURANCES

Canton Union

HK Fire

SHIPPING

As Nav

Dal

Ship

ARRIVALS

Date

Port

"TASMAN"

IR

Port

VAN BEUTSZ"

Pori

“TJIWANGr

16th Oct.

"TJIEKSAR"

11h Oct.

23rd Ori.

24th Ock 24th Oct

30th

Det.

2nd Nov

"THBODAS“ *TEGELBERG“ TUBADAR“

“STRAAT

MALAKKA"

-TJITJALENOKA" "STRAAT

From

Belawan Bell, Penang. Bingapore &

Raigon

Japan

Macyskar, Java Ports & Singapore

Japan

Jaya Ports

Japan

Java Ports, Macassar Singapore

B. America Africa,

Manfa

Macawsh?, Jive Ports

MAKASSAR" ...Japan

Singapore &

$

Starspore

SAILINGS

TO

Lath Art 17th Oct,

“VAN HEUTWZ“ «TANRESAN”

Singapore, Petang

R

Beawar Belt

Manila, Mingapore, K. &N America

Airtex

17 Oct. 18th Oct. 22nd Oct

28th Oct. 27th

3rd Nov. 411 Nov

"JJBWANG?"

JIBODAS" "TASMAN"

"TJISADAK" "STRAAT

MALAKKA" "TJITHAJENIKA"

PETRAAT

MAKASSAR"

singapore, Java Ports J MACARRAI

Japan Ports

Salinn. Djakaria.

Aarabala Japan Porta

Japan Porta

Singapore, Java

Poris & Магаска

Manila, Kingapore, S.

America

Atelea

Ceneral Agents: HOLLAND EAST ASIA LINE

Date

ARRIVALS

Ship

"ARENDSKERK"

"ARENDSKEEK"

In Port 5th Nov. 2nd week Nov. "KTELDRECHT""

19th Det.

7421

750 500 100 €

6th Nov.

"ABENDSKERA” "ARENDRRERK"

760

Underwriters

45%

146 160

11.65 135000

5000

4000 150

K. Whart

102

of

N. Pt. Wharf 0.80 6,85 3500

Dock

1015 3.90

(6.89

18 183

014

36 384 1000

1100

6,20 0,30 6000 @ 028

G4 000

54

2.20

11 11

Paris, Oct. 11. The Finance Minister, M. Rene Mayer, met with chief economic experts to day amid ever stronge. longe: required after a certain 483 Rupees as compared with "The principal immediate reason for the re-

rumour of the impending point to settle its trade account the adverse balance the previous cent market strength is the fact that Bolivia has

the franc with Japan in Collars, the your of 49,567,987 Rupees, Large-scale purchases resisted the price terms which the United States devaluation of

and reports that M. Mayer Government do not intend that

Provider to reinstitute Japan should be allowed to bulk cotton by Japan accounted for is willing to offer as part of a new contract.

! has decided

parge Sterling balances. the increase in trade, Pakistan

Our imports from Japan will exports to Japan in 1950-51 The Bolivians poun to their coinage of gold.

totalled 324,347,200 Rupees and while

US

therefore be kept at s reasonably high Cost

the

With the black market rate of

low lovel and other Sterling Imports, 188,412,749. Rupees.-- negotiators point out in reply

the dollar curing to a leve main That heavy axation is a

Area countries will be asked to Associated Press. higher than

1949 since Bry

restraint in their ingredient of these costs,

Anuncial elreles believe that exercise devaluation is immineat despit repeated offelai denials

EXCHANGES

IN NY

New York, Oct 11 Canada dolları Englund official

-

mark

18$0.95

West German Deutsche-

Holland (guilder)

Italy-official

Norway (krone) Portugal (escudo)

279-18/14

15

-Tu thus The Bolivian

their that Julner

ronomy depends on tin, danger of social disturbances

real one and

therefore be ready to concede

去 is virtually certain, now-

ever, that this would be treated by the US. as a special #X- 0928-P/IR ception to the general level of

world tu prices.

"Another factor affecting the marke may be that some buyers

bren

secur! anxicus 10 have suppues of tin in anticipation of a possible international scheme for allocations"

in

ve- whol.. The and political Bolivia the U.S.

a

ma:

unoticial

273 bid.

Z 10 asked

futures

go-day futures

274

Australia (pound)

2.1A

a large part claims.

of the Bolivia,

New Zealand (pound;

1

South Africo (pound)

2.60

Belgium (franc)

0199

Denmark (krone)

.1455

France

(franc)

420

2630

11002:

1405

034

Spain (poeța ) Sweden (krone) Switzerland-free

0230

A1035 22pr

MIDDLE EAST

Egypt (pound)

2.88

Tran (rial)

Iraq (dinnar}

Turkey (m)_...

03125 2.81

1375

LATIN AMERICA

Argentine-official

0710

Brazil

(cruzeiro)

IIBE

Bollylan

(boliviana)

Chile-free

U150

Columbia (peso)

4025

3.00

1153

0650

Uruguay (post)

4150

tbolivar)

2005

FAR EAST

India (rupee)

2100

Pakistan rupee)

2030

1783

3040

3305

350 yen to US$1

Cuba (pes> Mexico (pesa) Peru-free

Venezurie

Hongkong

Indonesia Singhport Зарат

-United Press

PROBLEM FOR PERSIA

The Financial Times noted that th? Mr Symington, Director of Reconstruction Finance Corpora - tion, sole American buyer and seller of in, had said the United States had no intention of paying unfair prices Just because she needed tin.

Tin prices have shown

remarkably little reaction 40 this evidence of a continued

offclai U.S. attempt to force them down. Despite the surplus' of tin which

the statistics show to exist, there has been little evidence yet any beavy weight of tin

shadowmg the world

U.S. has even while the boycowing it.

This

ri

Over-

market been

tends to suggest that outside America, some of the be surplus has tir. thought to actually been absorbed in in- creased consumption.

If, in the U.S., tin was avall- able more freely to consumers, the statistical position and the appropriate price level of the metal would be easier to ascer- And the lain."-Reuter

New York. Oct. 11 Persia could find technicians and buyers for oil produced at Abadan but could not tankers to transport it. the ma- gazine Newsweek said in week's issue.

this

LONDON

MARKET

London, Oct. 11. Prices of tin were firmer today In a three-page survey of the Turnover was 75 tons, including Anglo-Persian

oil

Newsweek published

dispute. 30 tons for cash.

chart

Prices closed at the end of the showing the following figures of cfficial morning session as follows: tankers: United States 6,004,000 Spot tin, bayers tons, Britain 6,045,000 tons, Nor-Spot tin, sellers

Business dome at ions, Western Three-months tin, buyers way 4,410,000 Europe outside Norway 4,014,000 Three-months lons, other Westen Homisphere Business done at

Liberia Settlement 1,239,000, countries

756,000 tons, Japan 454,000, So- viet Union 188,000 tons.

Western

The writer emphasised the world shortage of tankers and sold no American or countries would sell to Persia Router.

New York Sugar Futures

New York, Oct. 11. Domestic sugar futures No, closed 1 to 8 higher. November

3.50

0.45 uked 6.47 nominal

1,015

1,020

1,015

tin. sellers

04712 16236 950-04746 1,017 -United Press,

Grain Prices

Go Lower

Favourable hervest

Chicago, Oct. 11.

i

-

if the trancs devalued to the rate of 400 to $1 in contrast 10 the present 340 exchange and the black marke. rate of abnu 430, it is believed that such tion would have little effect on France's earning power since he cxports are falling because of a decreasing market in some case. and because ofinereusing do- mestic usage in other cases.

On the other hand, it would increase French expenditure:

materials which for raw already so high that the dolia. gap is becoming alarming.

dollar The

on the black

13 market zoorned

to points 435 per $1 for denominations af $10 and above, while the rate for single dollers went from: 421

to 428,

Gold climbed frum frence

arc

577.000

E

10 582,000, per kilo Kain of 14.30-United Press.

Two-Sided

Market In

NY Cotton

01

New York, Oct. 11 Cotton trading became more a two-sided affair. Thr evening-up for the holiday, and possible Washington wesk-end announcements on the suggent- cd price propping proposals. caused speculators to even up positions.

imports.

In INE meantime trade between this country and Japan: will be closely Scrutinised

from Japan will be Imports

last year higher than slightly but for balance of pavienis

will be stricte reasons they to essentials

IMPORT LICENCES

The Board of Trade announce"! that they will therefore grant import

Dispirited

Market

In Wool

Shat Dock.

Wheebok

LAND, ETC FR Hotel BR Land S'hai Land Humphreys

UTILITIES

Trum

P. Tram (0) 22

*** 5 setet&c

885 3 40.28 3x

16.00 £7.10 9200 & 17

131 110 C. Light (0) 920 850 500

Star Ferry

4 6.29 2700 C. Light (N)

C. Light 81 910 9%

From

Europe & Singapore Japan

Europe & Singapore

SAILINGS

ΤΟ

Japan via Mondia

Marta Mingapore & Europe

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

Electric

234

Telephone. 18 15

Hope

Cement 1434 143 500 @ 2014 STONES, ETC.

M.S. "PETER MAERSK”

M.S. "NICOLINE MAERSK”

M.S. "SALLY MAERSK"

Durity

Watson

19/40-18.30 200

324% 23

Sydney, Oct. 11. Wool prices fell again in both licences for limited Sydney and Adelaide today. amounts of raw materials and

INDISTRIALS At the fourth day of the semi-manufactured goods, such Sydney sales, price for all types as cotton and rayon grey cloth of wool closed from 10 to 20

cent for processing and re-export to per

below yesterday's certain markets, räw silk, rates.

Prices closed 25 per cent be- timber, certain types of paper. chemicals, iron and steel pro- low yesterday's levels at ducts, non-ferrous metals and third day of the Adelaide sales. Bidding at Sydney was spas- some types of food.

There is no intention at pre- medic and the market was sent of fixing a "target" level tmts lifeless and dispirited

the animated with for trade between the United contrast Kingdom and Colonies and bidding of Monday and Tues- Japan. Further talks will be day.

held between the two countries

France,

the

BL

in

Belgium and

other

at the end of the "experimental European countreis pre- period" which is due to end in dominated, while Japan, Britain March next year.

and local milis gave moderate

Meanwhile the Manchester support.-Reuter. Guardian says today that Japan should be allowed to co-operate In the Colmbo Plan, not only to supply south Astan countries with capital goods for develop- purposes but also to provide a market for Japanese industry.

ment

Quiet Day In Textiles

New York, Ort. N. The cotton textile market

L Crawford 291⁄2 COTTONS

Exmo

9.89

+

600 2000

3/70

8.90

London Share

Buoyancy

London, Oct. 11. The London Stock Exchange woe buoyant today.

There was widespread buying the in most sections during early part of the session. Part of the gains were shed near the close, but plus signs were plentiful at the end.

British Government bonds, textile issues and building shares BITL O stocks were were

Sutex of The

But, it warns. many of the schemes now put forward by the Japanese are really no more than a resumption of the economic relations which existed was quiet today with prices mainly steady.

about unchanged.

Financial Times' daily with south Asia before the war,

There index of London stocks today and these were not of revolu- print cloths were light.

interest in was 137.0. up 0.4-Associated was some further tionary beneflt.

Press. Rapid extension of Japanese bag sheetings.

NEW YORK MARKET Wool goods were dull. Mills industry is necessary to pre-

New York, Oct. 11. vent "troming new millions of continued to await some signs

Steck prices moved higher on Japanese population from seek-of stability in world raw wool ing salvation by desperate prices. For the past two days all fronts with industrial issues means, the paper says.

Australian wool prices havej scoring the best gains in over a In the Arat general turned lower following a sharp week.

over the past advance of the week, ralls, steels, spurt in value

olls, farm implements and certain three weeks. It is being said in America that if more dollars are to be the slowdown

Rayon goods were sluggish. specialties rose smartly.

Most

gained fractional- utilities in activity was Invested in Asia they should reflected in statisiles on

although volume Sep-19, be added to the already very

with sales totalling tember rayon shipments total-

This shares. The

The industrial average ling large sums sent to Japan rather

82,100,000 pounds. than dispersed elsewhere, for

shop was 16 per cent under the levels rose 1.34 and rails 37 cents, while

utilities if Japan became the workshop

average dropped per cent the of August and 25 In Washington, a delegation of

of south Asia the dollars in- Southern Congressmen and vested there would also

under the average monthly level 6 cents. Or 1,143 issues traded, in-

for the second quarter of this 532 advanced, 309 declined and growers conferred on Wednes- directly benblit. the southern

242 were unchanged. day with the Agriculture Secre-

year.-Associated Press, tary, Mr Brennan, tó demand higher Government support for cotton next year.⠀⠀

New The New York and Orleans markets will be closed on Friday for Columbus day.

Nearby October delivery went off the board on Wednesday Traders assumed that moderate there ehort interest remained and its growing tightness caused mills to cover. The firmness in October delivery spilled over into succeeding December Ilvery which widened over mark to as much as 25 points at one time.

de-

the

STANDS TO BENEFIT

countries,

b One dollar would thus made to do the work of two.

Japan stands to beneft from Hodge selling became more apparent today on the rallies expansion of trade with south and was more than sufficient to Asia, the Guardian goes on.

Today sells 姐 the demand from domestic of its exports to the Sterling high proportion and Canadian mills along with of

Area but continues to pay for a supporters

offerings Producer

high pro

proportion of its Imports had undoubtedly been attracted high by the higher prices in relation in dollars. It

ย

fol-

Anja,

Weekly

Bank Statements

ARRIVALS FROM U.S.A.

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

Oct. 16

Oct. 81

Nov, 15

Oct. 16

Nov. 13

Nov. 30

For Freight and Further Particulars please apply to:-

AGENTS;

JEBSEN & CO.

Tel: Nos, 36066-0,

Pedder Building

P

PATTISON ORIENT LINE

LIMITED

2. 1. “LAURE PATTISON"

Due From:

In Port

Salts For: DIRECT to Pasan & Japan, Oct 18th

picked up 1,760,000

Dow Jones averages at the end

of the session stood as follows:

30 Industrials

20 rails...

15 utilities

40 bonds

274:10

46.86

London Rubber Futures

weather and the higher than expected.

London Oct. 11, thereforo possessos The Bank of England state- Government crop estimate sent grain futures

a standing surplus of Sterling ment for the wook ending Octo- lower today. to the loan..

which it needs to convert into her 10 reads on follows Wheat closed % to lower

The market opened or 4 to 2 dollars. It will goin if it can Notes in Clroomtione #1383,107,000

London, Oct. 11 and soybeans were unchanged

103,040,000

rubbor futures points and closed off 17 to 27

Prices Por of fis raw materials Private deppelte obtain more of to 1% tower.

34,065,000 Gyvachment securitien points. Prices closed as

the Storling Area-of south other arcurities ...... from

Soma 000 closed today as follows: Prices closed as follows:-

lows:

1,000 Number 1 rubber, there ||:Hemipts, WHEAT—price per bushel,

27 34 nominal But this picture of an ideai| Homie ratio .... 241 Spot

Delober September

Asian economic structure December

rather too simple, the news- Barel, (1803) May

CORN Spot 195 nominal Reptember

Decembre March (1903) May

RYE July

World suger futures No. 4

MATC!! MAY July

closed:

March May September haw sugar apot

0.11 d

4.17 bid 8.1A bl ociated Prav

New York, Oct. 11, Prices of copra were quoted pember today (198.00 per short ton

DATS aded Coconut oil was quoted JAYHUTS |Beptember Koday rat: 14– vents" a pound

1.50-16 2.00

Pember

Murch, (1063)

5.301 2.44

July

Dalobry

27.50 bid

90.19-24.00 35.35-38.57 $8,03 34.02

Mecember

1.75

Maron (1908)

NEW ORLEANU MARKET

1.00%

Spot

In

paper says, Will the United which to finance its

Unlled Pres BANK OF FRANCE pay Paris, Oct. 11. The Bank of France etatement

creation, sequiesce in Japan's for the week ending Cofober 14

transserie to

ith Azin some bends as follows {gorith

Df its ension: Los lamporte?

Total gold holding 11,440,873.500 scles and other cur

velSheen (physical jobsearisión" night online. abroad: 334,186,204,0

En bild in the way of further?

$4.00%

Advenos to currency ·

thens med for skillaid machinery, anggot and the price of slapinare" ex»

Ar mul too high

bald to woul

open's

best be useful contribution.

November

December?

January/March (1969) April?füre July/september

Bosa in the foot

12-14 Queen's Road C.

Chinese Agents:

Tel: 25846,

OVERSEA CHINESE STEAMSHIP CO., LTD.

48 Bonham Strand W. Tels: 26646, 26127 & 31119

M.V. "LA MARSEILLAISE"

12 days roundtrip

MANILA and JAPAN

Exchange Rates Salling from Hongkong →→ Sunday 214 October, 10 P.M. Back in Hongkong. - Friday 2nd November, 5 P.M. CIE DES MESSAGERIES MARITIMES Queen's Bldg.

Tel: 26051 (8) Lines))