1951-12-24 — Page 9

THE CHINA MAIL. MONDAY, DECEMBER 24, 1951.

Royal INTEROCEAN LINES STERLING AREA'S FUTURE

"TITWANGI

TASMAN

- 35"

1946 AMP K"

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AAN 1357"

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Interocean Lines

SAILINGS

iver.

24th

To

Singapore. Java &

Ringapore Djakartu,

Penang

Macassar

Belawan Deil

Sikk

Mantiu

Singapore,

击 Ateleu

H

America

Sura

داد

Jul, Threbon. Sematang

bula Macassar

MAIDEN VOYAGE

To Sugapore, Javi

1 N 1

A

Marasnat

Jap

KAL

Japan Ports

1.2

17th

Singapore Penong A

Belawan be

"HOANINGKA

Japan

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JAPA

Caper Parts

J

2400

Japan Po1!

24

Singapore, Java &

Macassar

514

Alba

Amerira

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120

Macassar

LIWANGI

DEALINGKA

WAH"

14W ANGL

MAHINADANE

A 390

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Mania Singapore,

Abgapure. Jayn &

Singapore

Ayunila, Kingsbure. ATTICA

Jaya

America Singapore

Java

Macassar

From

Singapore

Singapore

Nagapote

ARRIVALS

ENGRA

Fat

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AAN BA 187 JASSEN MIN

4th

Magasnya. Japan

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EIRANGE

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General Agents.

Alrea

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Jasp & Ningapore

VIN

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SABINGS TO EUROPE

"PREKERK

"AAGICKERK

FRESEL"

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ABRICAT-

Зап

341

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SAILINGS FROM EUROPE

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Arrives stungkong

"OVERLISEN

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"MORALIS ĻAUN “

1

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14h

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3000

Mar

614

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3th

Apr

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KING'S BUILDING. TELEPHONES: 28015 TO 28017 AGENTS: #2. CONNANGUT ROAD, & TELS: 41986, 25133

CHINESH

US Tin Stockpile Could Be Used

To Lower

Prices

London, Dec. 23.

&

MESSAGERIES MARITIMES

Critical Task Confronting The Empire MM

Drastic Action Required

Solve Financial Crisis

FROM OUR OWN CORRESPONDENT

London, Dec. 23.

Το

A critical task awaits the Commonwealth Finance Ministers who are due to meet here next month for a full-dress review of the present economic situation as it affects the Sterling Area.

Mr R. A. But-

The gravity of the situation itself is well-known. lor. Chancellor of the Exchequer, has summed it up thus: "The whole Sterling Area is in deficit all round the world .... all foreign currencies are, alas, now hard."

Japan's Rayon Yarn Exports

Tokyo.

Fle 23 Japan has exported in TE months ending November a total of 15.. 425,000 pounds of rayon International yat, Trade and Industry nounced

the

This figure represents a monthly average of 1,402.-

valued 441 pounds

at

do).

the

$1.398.000 The total

lar Income for

ments totals $15.387,817

- Inlied Press

New Gold Strike In California

Washington. Dec. 23.

21

The danger of Americans using their tincent $17-a-ton doldrums. stockpile as a price-lowering weapon is alarming more than tin interests.

Strong comment on the possibility comes in the current issue of Natural Rubber News (pub- lished in Washington by the Natural Rubber Bureau).

Israel Fuel

Corporation

ne

A

Katha

Leaving

"LA MARSEILLAISE

On

"ZELIDJA"

tel 21

Feh zy

Far

-FA4 12 Jaf 13 Manda Yokohama &

Kobr

Salzon Homeward For

Report U.S. Rayon Industry

New York. Dec

23

The United States rayon - dustry had a producing capacity at 1.444,000,000 pounds in mid- November. 1012 Der con:

By Oreber 1953, the capaci's more than a year ago

to exceed 1.700.000.- expreted

pounds or

or 18 per cent mere

capacity than the pre

present

The statistical by vey made

000

It is clear, therefore, thaf the crisis cannot be dealt with as it was two years ago by the simple expedient of cutting dollar imports. More drastic,

action will be needed but if it is to achieve its pur-

pose it must be taken by the Sterling Area as a whole and not by individual member countries.

This raises an immediate question. Is the whole- hearted co-operation of all member countries likely to be fortheuning In the degree necessary if we are to sur

The answer, unfortun- mount our present tßculties? ately, would seem to be "no,"

Several members of the bloc Are iskely to express grave Juhts about the present con- splation of the Sterling Area.

las, verte L MI

Ponation Minister

Cry sountra thark the who tait at the rules and conven

Stochang Area with particular reference to the

and

the ceny.bution to the doll

will be reviewed lev fr Comtenwealth Monst

Ceylon, ex

howevel.

ןןןן

ports from the United States: and Canada.

a sur

bulletin of the Textile Econo the industry, is operating at

mical Bu. :au indicated. Currant

1 cent of the total rayon yarn and staple capacity

November shipments of rayon by United States producers pounds, in- talled 84.800.000 cluding 84,000,000 to domestic pounds consumers and 809,000

with

for

compared export 83,000,000 pounds reported for October, or 24 per cent under the 1951 second quarter averige of 110,900,000 pounds

11,100,000

Rayon yarn and staple stocks ajas of Nov. 30 totalled 95,200,000 The present year has seen

Including 84,100.000 marked change in this altuation. pounds, The dollar gap has opened up, pounds of yarn and

alarmingly than punes of staple stocks

review of the In its annual ༑་ལ་ and the deficit hus spreadi

wani si uation, the bulletin at:- Fatind the world.

What then. 13 the future mated production for the 1951- 4.100.000.000 likely to hold for the Sterling - 32

peards This represented an in- Arcu"

One thing only is clear Short Trease of two per cent over the new crisis on the political previous reason and the largest This 9- front the favourable conditions at since 1943-44.

wool production is expecte theed to be about 10% per

J

tx

1

1 1950 are unlikely to return. This in itself is part

mais pesadar dr questiofi Vader to herself of fl part:- The Sterling Arra pation as

kistan, has also madarated dis satisfaction with the preseul

attangements,

HD-

215

<

to the suggestion that higher than the post-war 3,710.000.000 pounds in String Arts arrangements are

the intresta Halter Press operiting against of the m material produring countries.

STRONG ARGUMENTS

Moreover. 14

*

earner

RIK HAKEIM

L7

N. Africa & Entbpë

Marsellies via Manf

& Salzon

Jan

A

Jan

LA MARSEILLAISE"

JAM

21

+"BASTIA"

A 1

N

"MORTAIN"

Mar

passengers & freight.

LA

Africa & Europe

Mus 4 X Africa & Ruropt

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

Subtel To Change Without Salter

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

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

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S.

"LEISE MAERSK"

M.S.

"GRETE MAERSK"

M.S.

"OLGA MAERSK"

Jail

3 Jan. 16 Fel. Z

low

ARRIVALS FROM U.S.A.

1947 1

M.S. "GRETE MAERSK"

Dec. 27

M.S. "OLGA MAERSK"

Jan. 6

M.S.

Jan. 14

Increase In

World Nickel

JEPPESEN MAERSK"

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building Production

A report from a usually well- A new gold strike, assay-formed source in Karachi says

The Exte ton, has, Pakistan may even go so far s mg $400-$700

points out this week, af skyrocketed the little Cal- to call for the winding up of the

Areu. Pakistan Sterling

the United States porststs of i ifornia mining town

developing and using synthetle parently feels that certain mem-

materials, Britan's importive Sutter Creek out of its re-bers of the biter are "living be-

to the Sterling Area ak a dollar amet

So far Their means"

might

increase. well Goth. I are concerned.

material argument The strike was made at

Pakistan il SC45 wonid, This is the

breakaway by stone Central Eureka (

prefer to trade direct with the against any that began operations

The Sterling Area anlar area and use the proceeds

Ontario. Dev. 23 The moval argument WIR development

The Free world

of This is, in the

output copically strong.

nickel words of "The Economist," that

increase more than ! the of members

cent this year, and by 1964 most Sterling

per Commonwealth are experiencing production should be 30 per cen: quite sizable trade deficits this higher than the pre- Korean which have contributed figure, according to the head of towards the strain upon Sterling the International Nickel Com- Di John as much as Britain's own trade pany of Canada 'd., defcit.

Jode

for 1:0

Pemes

1869

Im the other Situated

the Sierra Nevadas, district

of 34 miles southeast Saamenin, Butter Creek is

12

me that Agured prominently the country's greatest gra- Mr Htt

Ten the Califunisia gold rush, Warren S

1. Natimad Geographic Society ecalls That shondri

1

The two ERGES. Bugton at Mi 24 Lock wood withdrawals of the tom US cockpale taie pime

buy on the basis of me of a pavale wire

Merkur, far

T

30

T

Tel-Aviv. Der

22

ste kjoje

Wood

11

“become in

bric buffer

eption of an Trael Fuel poffint Co uratujund was of ally. Sonsuz tumight:

A

Govers : 4

at that the at compatry

wh. Then shahal

ed-

24)

Sir

COPLAND THEORY

Au-iraha, toll. has been vited to associate herself more closely with the dollar re-by

personage than no less a Douglas Copland.

Various arguments have been! but for ward m oppastton to this of Sutter Creek ausgestion. and the Australian

hes officially mattg sampede of Government"

Nevertheless the Fug- jected it. Two years but the dis-

of quartz gald in the gestion has been made and many Australians have 1851

pened the bonanze made fortunes for Alvinza Hayward. Hetty Green, Lelanci Stanford and others.

FORTUNES MADE

C

loven 3 Y ST: 5

'44 LYY covery

1 a I wil to be ! luwe, the price of as maporkant.

W

CHI-

IS

il.

8 ולך

רת!

from

IN

The night conclusion In draw

from the various 21oss-cur-

་་

re-

Thompson.

Dr Thompson, Chairman and International President

estimates that the free

E union would seem to Nickel.

of

be that the Sterling Area and world's production of nickel in

Turconey upon which el based can only remain

countries tmber

1 1 195) will be approximately 205- strong| 000,000 pounds, which is heteved continue to be several times greater than

the output behind the fron Cur tain.

Canadian producers. he point- ed out,

were responsible 275,000,000 pounds, or more than 90 per cent of the total this year. compared with their 1850 output of 247,000,000.

pounds.

India

somewhat dif- support it in bad years with yame regard for the com- feteni position. The Sterling the

mon interest as they have done John A. Sutter the man for Area golf and dollar deficit has

good years. the Dominion whom Sutter Creek was named, raised Tears

United Kingdom

will The Edlord statenval

wes a Swiss immigrant who had that the

Countries to re- shqi think that acquired

50,000 acres ask member

expenditure as strict their dollar "somewhere in the interior as naught be somewhat

He de sul further, olajter, melu hing of clining a perturbed at the idea of per a grant from Mexico

het proft from 1:16 aiscovery of gold within his "harony. His vust holdings were lost in the wake of the frenzy,

the Gove me, would deal with trous

alisaties compete with the

mitting price runsiderations

The porn sumus - pasi 1 that

a petalivan pre the th 1-a is

muntenance of as an inviolate duets were growing, and that the the stor kittle 1 Puci Corporation wou!!

entity except in cases of large national emergency ril saying pernd

foreign ::f

CH LAUTY anotas

the purchase of i prouts.

1

fur

!

India having already practised the utmost economy in the use of dollars feels that further re strictions might have a serlour strictions effect on the country's internal cousiomy.

to

Grains In

The fifty cents worth of gold that started the 1840 rush to

So far from feeling able "We believe that the stockpile California

was discovered by principle WILS conevived and Salter's foreman, Charles Mar- make further cuts in dollar ex-

india may soon

be in the war nest-shall. in the tailrace of the penditure The programme of the new designed us a

40 miles compelled to take the opposite was net to be used us a Sutter mil), about company mludes the building of and a ve bire between Haita ann leilion cennomy price weupon north of Sutter Creek. T-Aviv the communique com- ; at clue France-P. esse

Stock Exchange lo NY

New York, Dec. 22. Prices declined irregularly on

ther tuck exchange in

3 scrire rif valuable material reserves

be caused

voiton

too

termary,

were

+9

course.

and

Chicago

Chicago, Dec 32. An easier undertone prevalied market. grain futures

was reflected in Liquidation

e declining prices with much selling atributed to evening-up for the holidays. The marke!

gno

ignored the adverse weather

and

prospects

A CLEAR THREAT DESERTED BY WORKERS

continued of With the

of cry

"gold."

Higher food imports from the

At the "We can weil imagine the Sutter's Fort at New Helvetia,

heavy export business. dollar area, to offset the effects

cent lower wheat was close, dire consternation which would now Sacramento, and his mill, of internal crop failures, the

blanket chistillery,

to higher, cott 2/3 to 1 cent the anbe the

interest on of

the lower, oats to I cent lower, farmers of the United States if weaving shop, and blacksmith payment

grain loan, United States a shop a foreign power accumulated

deserted

hig by

make rye unchanged to lower, and purchase of dollar oll to strategic stockpile of cotton and skilled

bent on Jabourers

good the loss of Persian supplies soybeans unchanged to 2 lower.

Prices closed as follows:--- then proceeded to dump it on

to import more the need

WHEAT-price felt making their own fortunes.

per bushel the market whenever they Frenzied crowds from the east capital goods from America be-

2.57 nominat Spot

2.60-3- cotton was the

(1932) price of

of Britain's rearmament | March overran Sutter's properly, stole

facturs, Miny these his cattle, drove off his Indian cause

10 which will tend workers and disputed his rights programme-all

increase July

September The final blow dia's need for dollars. 10 his land.

CORN cathe when the United States

The Sterling Area, therefore. Spot his

dis- March 19621 clearly faces a threat of

May But the danger integration.

July Millions in gold dust

exaggerated. Septembe should

RYE taken from Suiter's empire but Sutter himself lost everything. Commonwealth trade is subject

to sharply fluctuating dortunes December that He moved to Pennsylvania in

change As and views may 1873 with only a small pension Generally speaking, the best wiree of his former wealth.Tapidly as the periodic transi- December

Inderd. He died in Washington, D. C., ons from surplus to deficit.

high."

a very

4

mixed

cult Saturday session. All

depin treats joined

sjeching.

PRICE DIFFICULTY

com-

The Editors also comment on Strels ticket around the the difficulty of determining a

close. vious

Automobiles "fair price for a given

Producing interests c. Ralls were very tuli and medity." practically unchanged, Utilities felt that one price was fair and

felt were almost unchanged. Indus-consuming interests trials and utilities were very another price was fair. dull. Storks sales Lolailed

why was to let the law of sup- what at the ply and demand decide

was a fair price any given time. Certainly it was hardly playing the game to thwan, the

price level by in supply-demand $2,00 Jecting a consumer buffer sock

picture Into the

4 pro-

450.000

hares.

Dow Jones averages

end

of the sersion

follows:-

30 inch trials

20 Ails

15 utilities

40 bonus

gloo as

256.04

United Press.

In

Rubber Singapore

A1

46.97 clement 100.03 worst this could drive

ducing industry to disruption and at best would produce an unpredictable nurkret situation, subject to the wülms and

Singapore, Dec. 22,

· Number 1 rubber, per ib.

Jaburry (1965

faelca of a small enterle of ad- ministrativa officials.

Supreme Court found

Mexican grant invalid

were

be

many

of the

2.04.7

2.40--

2.49-

JB nominal

3.03-3-2

1.32--1.93

1.00-3

2.10-211 2.08-2 March (1302)

OATS

05-1 93-12-34 March (1062)

New York Bour-pur 200 lb. back view $13 D.-United Press.

in 1880 after vainly appealing expressed by dissentient mem-

to Congress for the restoration bers of the Sterling Arza seem more appropriate to conditions

of his property-Unked Press.

US Consumption

Of Sugar

Washington, Dec. 29.

ity 1050 then in 1901.

Last year the Commonwealth earned

a large surplus In its trade with the rest of VIRIDIC the world.

In 1940 there was

an even Jurger deflelt. This year

is again in defekt.

It

Last year,

The Agriculture Department exceptionally

balimbtes United States

1952 for thelly M

sidered In Isolation

Elsewhere in this issue, the sugar consumption rarements that reason cannot

This is un Editors make a plea for tnore at 7,700,000 tons. "American Goodwill in effect

revised tries

Jap Agency Argentina

In

Buenos Aires, Dec. 22.

The Foreign Ministry today was an announced that Argentina has

one authorised the Japanese Gov- and for ernment establish commer. be con- tial agency here for the purpose

Discussing

elforts to

1.

the The in iustre's increase supplies of nickel. Dr Thompson noted that i International Nickel had zehlev ed a 12,000,000-pound

year-

ly increase in its micket produc- tion bringing current production to 252,000,000 pounds annually. United Press.

Cotton

Futures

In New York

New York, Dec. 22.

futures opened

A$

Tel: Nos. 36066-9,

See the Orient the easiest way- for the most effective coverage!

FLY THE

POAS

'COMMUTER' SERVICE

The Trade Route of the Orient"

TUESDAYS

to Taipeh & Tokyo

WEDNESDAYS to Bangkok & Singapore SATURDAYS to Bangkok

PACIFIC OVERSEAS AIRLINES (SIAM) LTD,

Cotton cents to $1,20 a bale lower.

41.01-03 41.67 March May July October

December

41.03-07

32.35 Unquoted

ASIRÅDS

Unquoted.

March

May

-Aszociated Press.

Credit For Bolivia

-

Washington, Dec. 23. The Export Import Bank nounced today that it has es- tablished a credit of $1,000,000 for the Bolivian Tin and Tungs- ten Mines Corporation of finance expanded tunga.en produit:69.-- United Press.

Peninsula Hotel. Tel. 58865,

DON'T WASTE

WATER

A.

¡St. John Ambulance Brigade

FREE AMBULANCE SERVICE

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Pacific Far East Line, Inc.

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OVERLAND NEW YORK-CHICAVO-DETROIT-TURONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES

Gunni, Marisks islandi, Hildrohtesian Islands - Regular Bervice direct or with transhiyinent.

of prompting interchange study.

of markets, intensi aither to Sunt which coal fisual estimate, which, is core of countries erated Prom the wing mucual tourish and story- Palces of rubber futures closed visited Malay to study the Un number of supplying areas. The steep rise in world commodity Ing local commercial relations today at follow

industry.

estimate

compared with the prices which followed the de- and practices.

elakon In many Western coun Аз regards Japanese subjects driginal 1951 estimate of 1,000,

to bar upon a pro and their interests, the agency We strongly urge a mission 000 tone and the

granine of arma production, will handle such fasues as ro- ALASKA MKAK" devoted to rubber, composed of gute of 7,800,000- or

iso rose but less almal would record

or renouncing their PYLYING SOUins industry executives a well the

Are+Bel Dopuri sharply. They be Govertiment "officials,"

The Commonweallw. Anvade birth death and wellwer: erives a visilum today, Malave Ambung kom poduze (Inventorieni gains a friend. Let's have inord in rent month has weakened the dollar, head, movers wild the infirestar deceased rosidents: -- United goodwill mission-London the demand for ugne United low due to increw dollar ex Japanese Exprons Bervion.

pond ihka to reductions in In- Prome.

Tecember

(Number 2, 1sæbber,

Decmibér

20sher || ribber.

*Declinber

Nombre, Chibber,

Eleckinber

Spot Milber, umbaled Ha, 1 pela arepe au

34036-h

130-

13146-339}{

107-100

Prom

ZHUBINA BRAMA

From

Arrivas

For

Btrast

San Francisco San Franbloo

Nee. 20

JRO, '

Feb. 0

Dec. 20

San Francisco de Los Angeles

vis Kobe

Jan. 1

灃

Ben Tragebido e fós Angeles

via Yokonamas

Einlied Blasen’Lanse Co. Cántent Aavalia, Queen's Batidir. Tel; BISON,