1951-10-24 — Page 9

MESSAGERIES M

Arriving

THE CHINA MAIL, WEDNESDAY, OCTOBER 24, 1951.

MARITIMES UNDER-DEVELOPED AREAS

M

Leaving

Nov. Jo Thes

"LES GLIERES”

FELIX ROUSSEL"

Dex

C

"OYONNAX”

*A MARSEILLAISIE"

NGA

[

'MONKAY”

Not 30

passengers & freight

Outward for

floor Waret tur

. Aula & Europe

alant, saigon &

Markiftes

N. Africa & Europe

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

Rotterdam.

Robject To Chance Withou! Notice

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

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

PENINSULAR

& ORIENTAL

FPARABITE

STEAM NAVIGATION COMPANY

R.M.S. "CANTON"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

SPECIAL NOTE:

EMBARKATION:

FRIDAY the 26th October at 5.00

Greater Effort Needed For Advancement

Italian Rice

For Japan

Rome. Oct. 23.

The Italian Government

is about to conclude plans to stulp 100,000 tons of rice to Japan at the free market rate. It Globo, Italtun financial newspaper an- nounced on Tuesday.

If the rice is sold at the

price

about average

of $170 a ton, this would not Italy some $17,000,000 the said, Asko- newspaper clated Prem

HONGKONG

SHARE MARKET

Better Living Conditions And Adequate Capital

(By RONALD BOXALL)

London, Oct. 23. The problem of economic development in backward areas figured prominently in world politics since the end of the war.

Most authorities now agree that the need exists for a greatly intensified effort to promote econòmic advancement in the two-thirds of the world that is more or less under-developed.

The need is two-fold: first, there must be an adequate flow of capital to finance basic economic development. New roads, bridges, railways, irrigation systems, hydro-electric schemes, and so on, are needed before the work of secondary development--the promotion of new industries-- can begin.

ان

has

Aid Plans

For Asian

Countries

San Francisco, Oct. 29. The head of the United States Asian economic ald pro- gramme said today that agricul- tural and economic programmes for the six Asian countries now receiving U.S. aid will be dis-

that begins on October 31.

Secondly, living conditions | many of the backward coun- must be raised by the provision tries.

hospitals, schools, social "Development," said Mr Black,cussed at the Baguio conference

is primarily the responsibility of the developing country, itself. There is not, and Cannot be any substitute for internal effort. Foreign capital cannot be broadly effective in the absence of local capital. Foreign advice will be useless unless there are roo's for

to nurture."

From Our Correspondent institutions, etc. Only thus can a suitable labour force of healthy, educated and contented people Stocke made available to man the Was new industries at the various Noon levels the morning's

! Extonge

123 are on the this morning

8332,647.60.

xh

d. m actions

SÆLARES AT VERS HANKS

1th Jak

ANLI

12.

1.m for the UNITED KINGDOM via | :ssoHANGES Strait, Colombo, Bombay, Aden and Port Saidi.

ALL passengers luggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No GATE, CANTON ROAD TRANCE BY NOON on THURSDAY the 25th October.

نده را

15

1.SGAI 2D 1569

150

are

Bul

now S

Promises made by the British political parties contesting the argeneral election should be judged

Mr R. Allen Griffin, Economic Administration Co-operation (ECA) chief for Asia, said in an interview that only heads of ECA missions Jo the Asian others from countries plus Washington

the would attend meeting.

The countries are the Asso- clated States of Indo-China- Cambodia and Laos- Vietnam Burma, Thailand, Indonesia, the Philippines and Formosa.

These

needs adequately recognised. SELLERS SALLA realise what should be done is not the same as knowing how to go about doing it. There are now several organisations and agencies--and an even greater gains: this background. There can be no question but that both number of plans for providing

parties have the cause the necessary flow of capital

economic development, particul- į the backward arcas. Some, like

arly in the Colonies. at heart. Mr Griffin raid the $220,000,- The International Bank

But they differ over the question 900 appropriated for 1951-52 is Reconstruction and Development of how this development can best being used for technical assis-

Government's be achieved

fance in such divers fields and the British

public health. Colonial Development Corpóra-

The comparatively slow rate agriculture,

and banking. tion, are achieving worthwhile

investment of private

in the Lgineering Technicians Others, like President Colonies since the end of the results.

the various Truman's Point Four Programme

felds have been sent, he said, to supply the needs of the countries.

105

17 17 1080 174

230 210

EN.

I'm m

malerwers IK Fe

DOCKS, ETC

K WHI

What Dowk Provident Shat Deck Wheelock

4 14%

510 1006

J

37

500 or 3 Tâ

!ANDI, ET!

1K H

+ 6 15

HK Lard

M

54 1000 52

100

5'7

Shak Humoplate..

2.15 $500

12

13 1000..

2 in bogged 19, ficulties

With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through ITIES the Wharf Co,'s Godown for loading was bourd by ship's slings only.

Will take place on FRIDAY the 26th October between 2.30 p.m. and 4,00 p.m.

Steadiness EXCHANGES

In Cotton

Futures

Cotton

CASTE

New York, Oct. 23. futures showed nu!

stead press it'

T

Peak Th

1k Tran

IN!

Star Ferry

|||

Lieu 100 1

GOU16 75

Plan seem 10 have

become initial dil-

and the Commonwealth Colombo War and the success of Govern- ment - sponsored development schemes (which remain, despite the greater amount of publicity would given to their failures)

Socialis:

doven in

These are two aspects of the problems which affect all plats for economic development, alike. There is the short-term problem The necessary supplying resources during the period of 995 world reumament. This problem.

formidubic

the though

at

means

5050

2215 23 390v 22%, MOMENT, IN Dy no

162824 insuperable. But the long-term

problems will be less

easy to solve.

500.

1

Jaght N

Lig (0.15 930 Eletric

Electric N

21

Thleyphus

15 15 1900 .. 14

INDUSTRIALS.

Cetheni

1414 145, 2005 y 1133

Rope

2:

IN NY

STORES. EV

Dan

00

IR 271...

500 17,90

2:4

Wat

2375

24

300

New York, Det 20

US$0.95*,

1:15:

i Crawlerd 21)

2.43 146

2 20 25%

Canada dollar: England ertical

Authen

33-33 fanges . - 14

flatsires And is abunda

New Zealand

closed on the rally. The market | Sa Af Upd

point; fie to stane) opened wachanged to 7

seesawed i Bestark (krone?

lower. Thereafter

Pangrang

within a range of 30 points West German Deutchs- alternate flurries of trade buys!

ing and hedging

Bruders and revewed mult mySwitzerland fre

po Middle East

Prices closed as follows Spot

30.415

: Eppt 15450

I l

hay nam

200

The Rubber

Markets

23

Lendom, OL Pees of tugbey Junielewa day as follows. -

TAN problems

تورا

were

seem

to Justify the belief that the days of large- scale private investment in the Colonies are gone forever and thai Governmen! investment must take its place.

for

investmen;

There has been ample evidence in recent years to show that private capital will no be forthcoming overseas, and panticularly an

S under-developed countries, while there are better opportunities for profitable investment at home. enumerated recently

M. The fear of war currency con- of taxation. Black. Eugene R

rates President of trols, high the World Bank, which has

Tears of expropriation (in foreign i countries) and other drawbacks the five years.

to investment galned

portant though they are from the investors' point of view, are secondary to the main considera- tion that while capital can be usefully and profitably employed at home, there is no inducement to send it abroad.

of its existence experience more

לנ

di velopment problems than any other institution or government agency of its kind.

LONG-TERM PROCESS

Economic Black said. was objective for the munity of nations. long-term prɔCESS, which could

development. Mr an important entire com-

I

was a

overseas,

RECOGNISED FACT

זמן

ཐང i

14'The purpose is to build. economic strength and the ad-i ministrative capacity to cope with the Asian countries' problems that affect the messes the people," he said.- Associated Press.

<!

Japan Bonds In London

Londen. Oct. 23.

im-

Japanese honde

"A" (45. of 1899) "B" (4%, of 1910) "C" (53 of 18073 "D" (6). of 1834)

68

57

67

119

"E" (31⁄21⁄25. of 1934)

Consols 66-3/18.-United Press

NEW YORK MARKET

New York, Oct. 23. Stocks snapped back after week of skidding prices had The shortage of private capital clipped over $5,000,000,000 from

While the rise failed to make up the losses of the previous week, it never- theless carried the averages with

market valuations.

not be carried out sporadically, is not a matter of opinion; it is

|રા Foreign capital alone was not the

fact recognised by every and international only facter bearing on the rate institution

Equally of development.

im-agency set up for the purpose of portant were the social institu- promoting economic development the exception of the utility in- Anciens of the country receiving in backward areas.

But that is dex, into the plus territory. The

49, help. the distribution of wealth tot to say that private enter- 45 450 and opportunity among the prise has no part to play in the people, the effectiveness of the provision of capital and skill for 419-42

educational effort, -United Prest

development purposes. the energy and competence

The Conservativo of government

Party on- administration, and the charac-visage a

Empire

1465

28-6, 14

しず

4 20

Roland kitilderi

2630

Hals willend

11001

Norway kemasa

14:00

The

steady

оп

market closed very covering by

Portomal resetadat

+349

clav Spain (est.)

OZE.

Savoury skropen

skaber er til

ing unchanged to 11 higher.

November

December

January/Maren (1552)

211

April June

Turke

5373

July/September

Latin America

Argentine -tiplak

0710

SINGAPORE MARKET

Bazil terazeiro)

0500

Bolha Choliyjanos

35.10 35.09

Chile free

0130

Singapore. Oct. 23.

Columbia (pevol

4025

notesimal

Čuba pasti

1.00

34 96

Moxien pesut

1153

noosimal

Per free

Percus of rubaer futures closed day as follows:- Number 1 rubber, per in

-United Press.

truguay 11661 Ventu

belavni

4173 2000

October

November

133 -186 135 -156

Far East

Number

2 rubber.

India frup^ }

2000

October

36.75

37.11

38.92-30.03 Indonesia

Pakatan trapers Hornkung

2030

Number 3

1755

October

3940

3395

380 yeni

US1

May

December

March

13952)

July

October

December

March (1953)

37.10 30.00-36 91

35.75

30.28-30.20

NEW ORLEANS MARKET

Spot

December

(1952)

March

May

July

October December March (1953)

38.70-36.80 Starapove 36.30-30.31 Japan 85.16

15.07 bid

34.00 bid

United Press.

Grain Prices

Close Lower

www.

United Press

Italian Tariff

Concessions

Washington, Oct, 23,

The State Department said today that American exporters would benefit from tariff con- Chicago, Oct. 23.

wide range of Graitifutures finished irregularly cessions on a icwer under the pressure of products coming. Into effect with realising near the close. Wheat Italy on November 17. futures closed 4 higher to lower and soybeans to lower.

Prices of grain futures closed as follows-

The concessions tinted with Italy

were nego- at the recent International Tariff Conference England, Bridl nt Torquay, supplement others already in- cluded in the general agroëment tariffs and trade. Italy 2.4014

signed the Torquay Protocol on 2.13 October 10-Reuter. * 401

2011

Wheat-price per bushel,

on

Munbe 4 10bber.

October

Spot rubber, unbalca

Black crepe

No. pale crepe

40-15 1444-145

1351-196 109 110 158 162

-United Pros

LONDON TIN MARKET

London, Oct 23.

The tin market was steady this morning. Turnover was 50 tons, none for cash.

follows:-

Spot tin, buyers

Spot ib, sellers

Business done at

1,023 1,030

nil

plan

general average gained 35 cents. industrial $1.21 BIN rail 37 cents while utility lost 3 cents. The upward move was so vigor- ous that tickers fell a minute

Date

Porl

in Port 30th Oct.

10121

Orl. 2nd Nov.

th

Nov 01h Noy. ESTE Nov 19th New

Free.

RIL

INTEROCEA:

Ship

"TASMAN"

"TEGELBERG" "STRAAT

ARRIVALS

MALAKKA“ TMITJALENGKA“

"STRAAT

MAKASSAN"

"TASMAN"

VAN HETSZ *THWANDT

STRAAT

MALAKKA“ “TEGELBERG

"TARMAN" "STILAAT

Belawan Br

Saigon

Japan

From

Penang. Sincopate &

*. Amerien, Africa & Singapore VİACARAƏT. Java Poris A

Japan

Japan

Singapore

Penang. Relawan Deli & Slugspare Macassar, Java Ports & Singapor

Japan

Japon

SAILINGS

MALAKKA“ TATJALENGKA“

MAKASSART

TO

Japan Parik

Japan Ports Singapore, Dava

Manila, Singapore.

America

75th Oct.

2nd Nov.

3rd

Nav

4+3x

Nov

"STRAAT

10th

Nov.

-VAN HEUTSZ"

Japan Porta

Istit

Nov

"TEGELBERG"

20th Nov

TJIWANGI"

21st

Nov

"STRAAT

MALAKKA"

Japan Porta

Ports

Singapore, Jaya Porty

Manila, Singapore,

N Amerten

VÁ Mteassam Africa A

কই Muentuar

Africa

General Agents: HOLLAND EAST ASIA LINE

ARRIVALS

Ship

Date

5th Nov. "ARENDSKÆNK" 2nd week Nov. “KIELDRECHT

"ARENDBKERK" 4th Nov.

2nd week NOV. “KJELDRECHT"

Japan

From

Europe đ Singapore

SAILINGS

TO

Maula. Sinzapore & Europe Jupan via Manlia

KING'S BUILDING TECEPHONES 28015 TO 28017 - 34

CONNAUGHT RÖRD L. 785 31496-25183

MAERSK LINE

£

FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA,

NEXT SAILINGS

M.S. "NICOLINE MAERSK"

M.S. "SALLY MAERSK"

M.S. "LEXA MAERSK"

ARRIVALS FROM U.S.A. "ANNA MAERSK" M.S. "LEISE MAERSK" M.S. "GRETE MAERSK“

M.S.

Nov. I Nov.

15

Nov.

30

Nov. 16

Nov. 30

Dec. 20

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

AGENTS:

JEBSEN & CO.

Pedder Building

Tel: Nos. 36066-9.

S. A. C.

e of the policies governing the development in which publie behind for a few minutes in the Every TUESDAY is SAC DAY to BANGKOK

and mid-afternoon.

Lee of the country's resources. private enterprise will play com-

Sales totalled 2,110,000 shares. plementary roles. Their "Im- perial Policy" contains plans for Of 1,134 issues traded, 597 ad- declined and 241 encouraging private investment vented, 298

So far as private investment is concerned, the last two factors are probably the most important. This is not to say that companies operating oversens are indifferent the standard of living of their scally-recruited labour. On the contrary, many of them have helped tremendously to improve the living standards of workers and their families. But the fact emains that private capital shys away from countries

in the Colonies, subject to the were unchanged. Oils perked up following conditions:

Sleets moved bigher. Raits im- sales totalled Curb 480,000 and bonds 3,518,000.

Dow Jones averages at the end

of the

scrsion stood follows:--

1. That the proposed enterprise proved. fits in with any general economic plans approved by the Colonial Government concerned.

Os

263,50

82.04

45.52

30 Industriols 20 rails 15 utities 40 bonds

185.95 -United Press.

2. That the enterprise pays its fair share of Colonial taxation.

3. That the management of the whose enterprise conforms to a proper pre hostile to code governments

of labour relations and fcrcign enterprise. Misguided meets the obligations # good nationalist zcal, can do. inore employer. Harm to the cause of economic 4. That all companies operating development by private enter-In Colonial territories make prise than restrictions on the re- for provision for local people to mittance of profits, excessive give financial support to the Copra was quoted today at luxation, elc-although these, enterprise and enjoy a fair share $192.50 per short ton asked. to provide ample reason for the of the additional employment in Coconut oil was quoted at 183 lack of private investment in all grades for

which their cents #pound asked--United under-developed countries.

abilities and skill may fit them, Press:

These four conditions govern

Even if an adequate flow of

Prices closed at the end of the official morning session as capital to backward areas could the use to which private captial be maintained, this would not can be put in Colonial develop- a certain extent, cature the necessary degree of ment and, 10

exploitation of economie devolopment. A short-enure against

Colonial

and man- and trained Col

resources age of technicians workers

power. But they provide no in- receiving countrics 15, according to the investment of private funds ducement, In themselves, to 14 Black, "one of the greatest and in Colonial countries. Private mert Intractable obstacles

capital will only be invested in development,"

Three-months un, buyern UND Three-months sin, sellera 957;6 Business done al Settlement

p33-552

1,030 -United Press,

Spot

September

December

March (165)

2.00%-36

THE STERLING

May

CRISIS

Corn

Spot

Seeds And Oils

September

Desenber

13112

Murel (10GS>

1.85

May

-1.6255

Ryo

July

September

Sepbember

1384-6 1.90%

New York Bourger 200 lb. Sok.

New York, Oct. 23. Prices in the seeds and olls market closed today, unchanged with the following exceptions

Tung Oil,

unk

Cars, F.O.B.

New Yorit, per ib. 30 cents.

Cassin Oil, per ab., F.O.B, New York, 6.6040.20 19 MA

· Flax 'Seed, per bushel, 'FOB. -Mimeapolis, 4:09/--United Press.

in the

MENTAL ATTITUDE

Australian Treasury oficials Nalicis, has

framework of

New York, 23.

and DIRECT FLIGHT to RANGOON

BANGKOK/PENANG ON WEDNESDAY BANGKOK/RANGOON & CALCUTTA ON FRIDAY BANGKOK/SAIGON ON FRIDAY

For full particulars, please apply:

General Agents:

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

69 Connaught Road, West. Peninsula Hotel, Kowloon.

Booking Agents:

Tel: 24292 Tel: 56416

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

CHIANG HUAT HONG

340 Queen's Road, West, Tel: 36204

Pacific Far East Line, Inc.

Fast Regular Trans-Pacific Service

Colonial enterprise after the BAN FRANCISCO, LOS ANGELES Initial work of basle development has been completed. Since this

DIRECT

Veurek

OVNELAND

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

·Tróm

Artiver

RAIIN

For

San Francisca Bar #romelsSO

Ban Francisco.

Nov.

Nov

· Det; . '20.

Nov, 0

Nov 16

Han Franplace, de Lo. Anggies.

San Francked Singapore & Dinkaria.

Bi

Los Angeles

San Francisco

San Francisco & Los Angeles #

via Yokohama

The World Bank, # nam. political, nen- profit-making pro vlopment includes the Guam, Marinas Zalando. Mloron esian Islandı – Regular Service direct or with transhipment.

the necessary provision of

politi institution, established within the cal, and social Canberta, Oct. 23..

institutions .03 United which further economic develop. Tho Icarus are to go to London for a can- : | NBA

to ment can be based, capital for TRADE WIND" ference on November 10 on provide not only francisk but this purpose must obviously come

also technical and other nasis from government sources,

"SEA BERPENT' the British Sterling crisis, The mesting is to

fence to under-developed coun chablo fries. Yet there is one problem (Tiile despatch on scossos ("8. In LUCUENHACO” omcials from all British coun- which cannot be solved by the development in the backward PACIFIC HEAR" tries to prepare recommend provision of material and dresa in the fires of a Person Of tions for Commonwealth Minia-man resources, alone. The three which tolik dojame let thiệ Mail” Phy awcond teis "duat

neet in the problem of the mental Chiffa *CONVENO January-asociated". Proke.. attitude towards foreign aid in despanels appears 'tomÖTTÉK.)

Får full" partiostare ball Volled States Linen Co., General Arentia, queen's Buliding, Tel; Elied,