1951-10-17 — Page 9

THE CHINA MAIL, WEDNESDAY, OCTOBER 17, 1951.

MESSAGERIES MARITIMES US-Russian Clash At Overhaul M Singapore Meeting

M

"LA MARSEILLAISE"

"LES GLIERES”

OFONNAX"

Arting Leaving

Outward For

..Ort, 20 Ort Zł

....Nov. F

Yokohama & Kobe

Nov

Π

Homeward For

LA MARSEILLAISE”

MONKAY

י

20

f

27

Nov

Nov

3

.Nov. 20

NOT. 25

passengers & freight

N. Africa Europe

Alanita brigon

Marselies

难

N. Africa & Kurope

↑ freight for Saigon, Port Saidi, Tunis, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp &

Rotterdam.

Subject To Change Without Notler

CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong Queen's Building (gr. for) Tel 26651 (3 lines).

Inflation Danger Minimised In U.S.

New York, Oct. 15.

Many United States businessmen now think the nation can get through its multi-billion dollar defence programme without further serious infla- tion.

In this they take the opposite view to most Government officials and many bankers, insurance executives and some industrialists who warn that inflation--born of Government spending-will hit hard next year.

Il

Public psychology will have! hat 10 do with it, dusalatlest the publi

1. srve about seven per cent of its in- come after taxes, rather than rushing by gsnis because [ears the dolin woll luge

value as time goes on

k

tben 1

will counteract a large extent 1

the flationary pressure of the

EXCHANGES

IN NY

billions which the Guverneul canada th>" will spend on the defence - Popland officia gramine.

Some think the time-tabl further inflation will be shown pretty clearly in what business men do about inventories be tween now and the end of

year

Inventorus reflect pubby psychology or the guessing of business as to what the poblac is gone to want to buy

Retail

inseptories

but they penk in Aperint almost $19, 000 000,000 They continued to

through

the

summer

adolfeind

30-day fut

th-du futures

New

Australia pound: NOW Zealand

Soc Africa

and

Belgium tranny Denmark to Le

Prpore Cynzie.

ent Gear: Deterrimack

Holland

Maly official

Red $18 billion. Because

ontinued manufacturers produce at the old rate, even Faye (pound)

Iran al the stures cut back on fra idinary after their orders, manufacturing in-Turkey (ra)

climbed steadily to ventories 541 billion last August.

York, Oct 16

US$ 0.99-1716

2.35 bid,

2.38 p

2 77

27

Li

70%

20%

P01984.

14:45 unza-10

4 20

26330

1100

Norway,

(krane)

1405

Portugal tescudoj

034H

Spain pemerk

0205

to

Sweden throne!

0935

Switze land- -free

22412

1

MIDDLE EAST

2.00

03125

2.81

AMERICA

0710

0560

0130

4025

2 40

1155

41.10

200

2100

2030

1756

341

3395

to US$:

- United Press

LATIN Argentine official Brazil teruzeiro) Bolivia (holiviano › Code-free Columbia (peso)

i puso Cuba Mexico UPNDI July, Pen-Ster

(peso Uruguay

(bolivar Venezuela

FAR EAST

But the net result of retail unventories falling and manufac- ixentaries Tising has

during 1

Living

Bat been August and September quarter | Intal inventories have been ai- most unchanged.

Inventory accumulation during the first half of the year was one of the chief bulwarks of inflation, Some economists tigare that the levelling off of inven- boriea during the summer offse! the pressure of rising Govern ment spending, so that inflation and deflation played a see-saw Some businesses engagement,

were definitely on the down- grade, while others-lied to the defence production - were booming.

FURTHER SPENDING

Government spending

India trupHNEI Pakistan (rupen)

Hongkong Indonesi Singapor Гарал

Appeal To Unions

The

wilt Union

CIO

continue to expand in the next strikes of

few months, implying pressure

for

allocations

of scarce materials doing some

On Trade Promotion

American Rejection Of Soviet Charges

Singapore, Oct. 16,

At the ECAFE conference here today the United States rejected Russian charges that American rearmament was ruining world trade.

The Russian and American delegations clash- ed after the Soviet delegate, Mr V. P. Migunov, said that consumer goods had been affected by the scale of United States rearmament and serious losses had been caused by a blockade of the Communist China coast.

HONGKONG

SHARE MARKET

(Our Own Correspondent)

Business done on the Stock

Exchange this morning was at $146,919, Noon valued quotations and the morning's transactions

stARES QUÝERS SELLERS SALES

BANKS

HK Bak 1326-1540- East Asia

Dr Eugene Braderman, co-, silent but unconscionable act of Chairman of the United States near-belligerency. Small coun- INSURANCES

especially delegation. reserted the Russian tries,

agricultural charges and bluntly said that countries, must be affected, in- the American coord for econe- cluding the Philippines. ine aid and commercial exports could stand and speak for itself.

We think we can contribute best to the conference by talking about what we are doing and ant about what others are or aro doing, Mr Braderman

United Press.

RUSSIAN CHARGES

Singapure, Oct. 18. The diversion of enormous 10 Western productive cort

affecting actuament

the vbipment of Asian and Far Eastern entries, accord- ing to.MP V

Migunov. hief Russian dekgate to the Coated Nations Fur East Trade Pomotion Conference.

ECONOMY STRAINED

113

For The "Queens"

London, Oct. 18.

Plans are being made for the "spring cleaning" of the world's fastest lñer; the Queen Mary; tid the world's largest, the Queen | Elizabeth. Work will be. gin at Southampton neft month.

Dase in

Ship

ABIAN

Port

In Part 17th Oct. 20LM Oct. mid Oct.

"TJIWANGI" "JIBEBAR"

on

25th Oct.

30th Oct

2nd Nov,

The Queen Mary to due to arrive from New York November 12 and ŵ not sati again until December 18.

The Queen Elizabeth will bề out of service from January 3 till February 12,

More than 1,000 men needed for the work.

arc

In the Queen Elizabeth there are six miles, of carpet to be cleaned; 600,000 pieces of china, glass and silver to be inspected; 210.000 towels, 30,000 sheets and 150,000 other finén articles to

be examined and repairéd, and | fresh-water tanks winch. hola 1,600,000 gallons to be internal. ly cleaned

are 1,300

ta be examined. Even the inside of the

Ldder has to be tested.

TESTING CABLE

Outside the ship one of the asks will be to examine every ink in more tiran 900 fsel of anchor cable,

for

over-

Canton Union Underwriters 4.55 HK F

DOCKS, ETC.

220 145

Electricians wil

test 80,000

10

750

lights

and

there

1000

4.30

ejecirle motors

140

K. Wharf

100

N. P. Whart Provident Shai Dack Wheelack

600

14 14:

41% 474

354 36 2003

LAND, ETC.

HK Hotel HK Land

5.75 0.05 599 x 0.80)

50 82

200 W 51 49 50

S'hai Land.. Humphreys

2.16

12

#s

TILITIES

Tram

... 16% 16%

500

100

160

C. Light 0) 8.90 91% C. Light (N)

300

в

C. Light (B)

f

Electric

29

Telephone

15%

the

The Philippines had been!

in rehabilitation, progressing reaching almost the plateau of

and stability

when Prosperity the ugly monster again reared Its head, and crucial problems the roming thick were

upon The country.

weak economy was being strained in an un- precedented manner by this war of arsenals and stockpiling.

The Philippines' position was not precarious but the situation great was giving

comern controls at the sources of raw materials and capital goods were being tightened and gaps in the country's économy became

Mendinueto urged

INDUSTRIALS

M Migunov is the of the 130 | wider. Laude Experts +lending the

Mr Cute Nalons Eernomic Com- mission for Asa on the Far countries in the ECAFE orbit de East (ECAFE, conference devise ways and means to aid and help each other as certain hom held here.

economy were STORES, ETC. the san

e of the most phases of their strous losses suffered by Asian complementary United Press.

Far Eastern countries as a result of this rearmament wa The ercation of embargoes and Instructions

{

trade, capita

un consumer goods.

-Production of the fully conomically developed

coun-

Juies is being transferred from peacetime to wartime", he added

The result was that there was

o possibility of satis lying even

the minimum requirements of backward countries.

(India)

Mi Jogindra Singh braid his country lad found it' mereasingly difficult to meet he Legurements of raw materials He welcomed and equipment. suggestions for co-operate action and suggested thai ECAFE should set up a regional com- mttee to deal with the problem.

INDIA'S OFFER

Singh said that ECAFE

encourage the

U.S. OIL

SUPPLIES

AMPLE

Providence, RI, Oct. 18. Fuel oil and petrol supplies should be ample to B all re- quirements within the United States this

winter, despite the Anglo-Persian of dispute, cording to Admiral H.B. Miller, Executive Director of the Industry Information Commit-

Lee.

ac-

Cement

Dalry

Watson

Sun Co.

VOTTONS

Ewo

Other liners, due 995 hauling at Southampton are the Maure.ania, due from New York on December 15 and "off duty" 11 January 22, and the Samaris and Scythia, both ch the Canadian

un, between December 20 and 16.50 January 17 and March 28 and 1615 April 26. 10.30 The Catenda will be over- 0.90 hauted at Liverpool. Her last Atlantic yoyage will begin frôm New York on October 27 and she will be put back into sérvice again on December 11-London Exprees Servic

74 000 14

500 & 13.00

17.80 17.90 1300 @@ 17.75

22

4.30

11600 @ 4.40

500

4.30

The Rubber

Markets

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

in cents per lb. November December January/March April/June

Admiral Miller reported in a July/September speech here that although Unit-

4734-8815

37-48 4716-J

(1052) 401-47

45-451

ed States of companies were SINGAPORE

considerable fuel to sending

offset the

should

forma- tim of international allocation committees with due represente- Europe to

shortages

436 nominal -United Press.

MARKET

Singapore, Oct. 18. Prices of rubber futures closed today as follows:-

Number 1 rubber, per id.

October

15032-157 150-150)

ion of countries of the region caused by the shutting down of India could still muke avail- the great Abadan refinery, dis- able tor export quantities of tillate stocks in storage on the

al, tanned or dressed hides

east coast were up almost 40 per and skins, tobacco and lac (the

cent, as compared with this

November December raw material from which shellac period a year ago.

15912-163 Number 2 rubber, October 131-192 as made).

Turning to the long-term Number 3 rubber. October 148-147 The American delegate, Mr

Number 4 rubber, October 138-137 the outlook, Admiral Miller said Spot rubber, unbaled... 1509-18719 Eugene Bruderman, told

that demand could be filled by Black crepė conference that he wanted reassure all friendly countries the world petroleum industry,No. 1 pale crepe in the region that their needs which had stepped up operations would be fulfilled, The record during the last two years to à meet American economic ald und position where it could exports stood for itself and increases of more than one mil- needed no apology or explans-lich barrels daily.

Jon.

이

111-112 157-162

-United Press.

LONDON TIN MARKET

London, Oct. 16, Prices of in were straply this ex-morning. Turnover was 60 tons,

including 15 tons for cash.

Washington, Oct. 15. Government asked the United Auto Workers the today to call oft

two Californja ankl

This could be done without New Jersey aircraft plants

Uni.cd Spales exporis to too great a strain, he said, if an- the production

full-scale war did not inflation, higher prices, where

year exceeded break out and it controls did not months of this cheapening dollar. "But against transport planes and jet engines ECAFE countries in the firs. six other

ratc the 1950

by 20 per cent interfere with the efforts of the this will be the forced cutbacks has been halted.

and it was likely this volume | United States industry to The appeal was sent to the in some industries:

Union by the Wage Stabilisation et exports would conthe. pand its present 2,000 million

Miss M. W. Denneby (Britain) barrels a year production by an of the enforcement, and apathy Board which had been handed 'disputes by President.

said the picture of supplies was other 400 million barren-Reu- of public buying demand holding the others down.

Truman. The Beara traditionally rot discouraging She did not to. An example of this might be refuses to Investigate any dis want to minimize dinculties Federal pute while a strike is in pro- but felt that fears entertained by the auto Industry.

somt did not appear to be justi- controls will cut

production

to work appeals fled. The back back below last year and the

were sent to UAW locals at the Exports of engineering pro- Industry contends that there may Douglas Aircraft Company, Gucts from Britain would prob- be a shortage of cars. But some other observers wonder if Long Beach, California, where a ably show a small decrease in the industry won't be making strike of Just about as many cars as the halted the production public would be buying nor transport

mally.

gress,

10,000 workers has 1952 but exports of other indus- of big rial products would increase, planes and at the he said.Reuter. Woodridge, New Jersey, Wright Corporation where a walk-out of

The auto industry may have some 8,700 men shut down jet been saved from running into the engine output-United Press, over-production and atacked Inventory difficulties which beset the wheel industry earlier.

If, therefore, the slowdown in sonte consumer industries offects

the inflationary pull of Gover

ment pending in defence Indus

to would be found in what

PI SUGAR FOR

AMERICA

Marilia, Oct. 16.

PI ARGUMENTS

Singapore, Oct. 16.

The Philippines, which was

the only country which apcke yesterday rearmament

ference here on

again

New Ship For B-I Line Launched

Newcastle, Get 18. Neptune Shipyard

Prices closed at the end of the official morning session as follows:

Spot tin, bilyers

Spot tin, sellers

1,000 1,005 1,005-1,000 Business done, at Three-months lin. buyers B42 Three months tin, sellers 150 Bullrices done at Settlement

London Stock Decline

London, Oct. 18. Anti-British rioting in Egypt depressed the London Stock Ex | change today.

Trading was light and losses small,

Leading industriale, oils and mining issues shed minor frac- tions along with British Gov- ertinent bonds. Japanese bonds

“A” (45; 'bf 1899) "B" (48. of 1910)

08

"C" (5% of 1907)

35 107

"D" (3s, of 1984)

1204 85

"E" (81⁄2s, of 1994) Consolé -Associated Press and United Press.

NEW YORK MAKKET

New York, Oct. 16. Stocks finished, lower, today despite a late rally which theŭ values from the floor. Trading was moderate. Chemicals

motors eased.

weakened while

Of 1,146. issues traded, 683 Geclined, 224 advanced and 239

were unchanged.United Press.

17ib och

18th Oct.

22nd UCL E2nd Oct

26th Oct. 29th Oct.

Jrd Nov, 4th Nov.

"TJBODAS".

TEGELBERG- UTJIRADAR "STRAAT

ARRIVALS

MALAKKA”.

HOTJITI KLENGÏÀ”

"STRAAT

MAKASSAR

“TJIWAŃGI "TJIBERAR"

"TJISOBAS” "TASMAN”

TIBADAK"

“STRAAT

MALAKKA"

From

delawan, Deli, Fenadů, Singapore &

Kalgon Atecassar. Java Ports A Singapore Japan

Java Ports

Japan

Java Ports. Starossar & Singapore

America, Aftica & Singapore Naramar, Java Porty

Japan

SAILINGS

"TITJALENGKA"

"STRAAT

MAKASSAR-

ΤΟ

Singapore

Singapore, #ava Porte & Maraskur KIAñila, Bingapore, R. & 8. Mriej

8. America

Japan Ports

Saigon & Dakarta

İstran Ports

Japan Ports

Singapore, Java Ports

← ÄÁŠ

Mánils, Singapore, S. Affles & 5.

Amerira

General Agents: HOLLAND EAST ASIA LINE

Date

ARRIVALS

Ship

From

Japan

Europe & Singapore

TO

8th Nov. "ARENDSKERK" 2nd week Nov. "KIELDRECHT

ath Noy.

"ARENDSKERK" 2nd week Nov. "KIKLDRECHT

BAİLİNGS

BALKA

Manila, Bingapore & Europe Japan via Dianila.

MAERSK LINE

FAST FORTNIGHTLY SERVICË TO:

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

NEXT SAILINGS

M.S: "PETER MAERSK" MS. "NICOLINE MAERSK" M.S. "SALLY MAERSK"

ARRIVALS. FROM U.S.A.

M.S. "LEXA MAERSK" M.S. ANNA MAERSK”

MS. "LEISE MAERSK"

Oct. 18 Oct. 81 Nov. 15

Oct. 18

Nov. 18

Nov, 30

For Freight and Further Particulars please apply to:----

AGENTS:

JEBSEN & CO.

Fedder Building.

Tél: Nos. 36066-9.

Grain Prices PATTISON ORIENT LINE

In Chicago

Chicago, Oct. 18. Prices of grain tires closed today, as follows

Wheat-ptice per bushel Spot September December March (1983)

May

Corn Spot

September

December

March (1932) May

94736-935

Tys

JULY

United Press.

1.034

July

Soviet Offer

Accepted

Teheran, Oct. 16. The at the ECAFE con-

fran has accepted a Russian the impact of launched the 7,150-ton motor offer to sell 32,000 additional on trade,

salp Chakarta here yesterday, started the ball rolling on this is the last of a series of four tons of sugar to this country,

The Finduce Ministry: yeKA subject today, when the meeting tips, built for the British India continued.

Steam Navigation company. terday Instruébec ita, Jokelgr Mr S. R. Mondinueto, chlef

The ship was named by Mrs trade Reportment to buy the Philippine sugar exports to the Philippine délégate, reminat Kirkwood Brown; wife of one play offered such sat

Seplenifor

Seitenber

New York four-per 200 $12.75-United Press.

Aries, the important els United States this crop year are the conferences that 10 years of the direclits of the Com-September xafts a supplement / KAN: PRANO dren, particularly manu expected to total 821,000, short | dgo a' greit/catis.tophe visited.

in

facturers, do

the next few forsan increase of 101.000 ops this suffering world of our dry's mining agents to the existing bateragres months about inventories. Volun over last year, Sugar Administra Fle cald that a monster ran Mackinnon, Mackenzie munt between the two cou

trfen. Amoolated. Prent. today

It the whale amok

World

and Company Ltd. 162 tary liquidation of Inventories for Vicente Bundan said

This digute, however, still the

19 could make the inflationary pres

mangled

and The s

Chakarta.

with a sing quilo welt-Associated 181,000 tons short of the annual

Prostrate

I wake totul capacity of 14,000 cubic Press,

wound Heated, the monster was

modern features and special

under the baters the feet. I designed with the mori Exchange Rates the Philippine Trade Acto gain rearing sta v hend

The mands pre-war

merkin

8. aged 1,100,000 tons of which now practically on the rampage requirements for her cargo. New Yoift, Oct. 18. 962,000 1cns were sent to Copra lovas quoted today at United States and 100,000 tone it battle was raging and the ship whit neve Accommo

tam if

engulfing the

T:TUBE $188 bew short for sale, Cooogused dofnastically, Mr Bunuan world" deulozanour entthole dation for nut, on was husted today ab je erithated this year's total outpost arsenals and toning, Comal, a pond, küreden Unived me,001,000 lontanoclayed All countries were anected in four (Wolberth the towen 13

some degree or other by this barth rooms,Reuter.!

Prass..

LIMITED

9. K. LAURE PATTISON

bạc Fram: In Port

Sails For: DIRECT to Pisan & Japan, Oct. 20th

Tel: 25346.

12-14 Queen's Rond C.

Chinese Agents:

ÖVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand W: Tels: 25546, 26127 & 81119

Pacific For East Line, Inc.

Service OVELLAND

Los Blatti

CAN • CANADYA

Earviðs, direot-ot with sentuhipment

Lón Angeles.