1952-01-14 — Page 9

MARITIMES

MESSAGERIES

M

Arriving Leaving

"ZELIDJA"

LA MARSEILLAISK"

BASTIA"

**MORTAIN"

“ZELİRJA"

Feb.

13 Feb

23

תו: $

THE CHINA MAIL, MONDAY, JANUARY 14, 1952.

UK'S

PAYMENTS

1

DEFICIT ROYAL. INTEROCEAN LIves

MEstimated At £400 Million In Past Year

Ostward For

Salzon

Homeward For

Marsellen via Manila

A Saigon

Africa & Europe

Fan

23 Jan

26

27

Jan. 28

N

Mor

Mur Mar 25

MAT }

4

N

Africa & Europe

26

N

Attica

Enroj

passengers & freight

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

Subject To Change

Without

CIE DES MESSAGERIES MARITIMES

P.O. Box 59, Hongkong

Queen's Building (gr. floor) Tel. 26661 (8 lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S

RETE MAERSK"

M.S.

"OLGA MAERSK"

M.X.

"JEPPESEN MAERSK"

ARRIVALS FROM U.S.A.

M.S.

"JEPPESEN MAERSK

W

M.S.

"HELDA MAERSK"

M.S

TREIN MAERSK

n

Jan. 1X Feb.

2

Feb.

Jan.

IC Jan. 16

Feb. 16

For Freight and Further Particulars please apply to:--

AGENTS:

JEBSEN & CO.

Peter Building

Tel: Nos. 36066-9.

REPORT ON VENEZUELA

A Small Nation

With A Large

Overseas

Trade

London, Jan. 13.

Venezuela, if she continues her present rate of development, will become one of the world's largest economic markets, a Board of Trade sur- vey said.

The survey, compiled by Arthur C. Maby, Commer- cial Secretary in the British Embassy in Caracas, devotes most of its 254 pages to a complete economical and statistical survey of the country.

11

2

In Mix for and to the NAN Y

M Maby and Barons

be more wave of

should

VERS

locma

zuelan economy than they were Jarge as the country simong the countries producing

survey

it forecast an unprovenent in overseas trade within the next few years.

Steel

British Output Down

London, Jan. 13. British steel production 654,200 topa dropped by

last year.

The total for the 12 monds was 15,638,500 tutm compared with the record 18,292.000 tons of 1950, the British Iron and Steel Federation announced.

Production of steel ingoin

month castings asi

and

ת!

fell to an annual rate of 14,953,000 tons from a rate 16,437,000 tons November

and

15,498,000 Long In December the previous year.

Pig-iron production last year rose to 9,888.000 tons against 9.632.900 tons in 1950.-Renter.

Labour Government Export

Policy A Clear

Failure

(FROM OUR OWN CORRESPONDENT)

London, Jan. 13. Britain's overall balance of payments deficit in 1951 can now be estimated at £400 million compared with an overall surplus of £221 million in 1950.

This is indicated by figures published this week-end for the United Kingdom's trade last year which show that with total imports pro- visionally estimated at £3,916 million and exports at £2,707 million the visible trade gap was over £1,200 million.

Since the figure for imports includes cost of freight and insurance, the greater part of which is payable to British companies, the actual deficit on our visible trade account was around £800 mil- lion.

'Boom' In Australia ping.

Slowed

RECESSION IN SPENDING

Churchill's talks with President

From this must be de Great significance is attached ducted a further £400 mil- here to the reference in the com- lion--the estimated value of munique issued at the end of Mr invisible exports, mainty Truman to the United States from such sources as ship-need for increased supplies of and tin and the insurance,

profits aluminium

United Kingdom's need for more from overseas companies

stoel. and the tourist trade. This leaves some £400 million-- the extent to which the ! United Kingdom's overall balance of payments was in deficit.

was only

31 is interesting to note that Washington, Jan 13.

although the

value of net UK £126 of The Commerce Depart- ·

(exclusive exer's today that million of re-exports) was ap-| ment reported

on: per cent up the recent Australian busi-proximately 19 ness boom is being slowed the 1950 figure, the actual ex-

recession in pansion in volume down by a spending and the recent fall- per cent compared with an increase of 15 per cent in 1950 Against this our imports in 1951 ing off in demand in some

cost £1,368 million more than in industries.

1950-an increase of 50 per cent in value bur only 15 per cent in volume.

of

was

thầu, thi analysis

conditions, Australian economie

The export policy adopted by written by Harris R Hungerford,

the Socialist Guvernment at the 05 Consul Sydney, publisher the Department's outset of 1981 has clearly failed, the Foreign M. Gaitskell, then Chancellor of ma) magazine,

The Exchequer, calculated that Comuncare Weekly

The increased expor bill expect.

world theted as a result of higher Hungerford although Australian business prices and the extra demands of

rearmament

programme still very active several branches the

and industry have would be largely offset by the of trade

B falling off

nitrease in our exports of con experienced

sumer goods demand recently

M-

any single factor.

wrole

This has not, in fact, proved Exports of con- to be the case sumer goods have recently de. clined as a result of the com- bined effects ol consume:

resistance to higher prices and ncreasing foreign competilon.

HONGKONG

SHARE MARKET

(From Our Correspondent)

דם

The volume of business done the Stock Exchange this morning was valued at $519,- 108.76.

and Noon quotations the morning's transactions:- SHADES BUYERS SELLERS SALES

BANKS

This is taken as an indication United States will that the shortly resume its purchases of Malayan tin-the suspension of which has been a contributory cause of the deterioration in the Sterling Area's gold and dollar position-and that extra supplies

American steel will be made INSURANCES available to this country.

QUICK ACTION NEEDED

Meanwhile, on the eve of the; Commonwealth Finance Minis- ters' dalis in London, it is be- That coming increasingly clear tuts in imports, especially from the United States and European Payments Union countries, will members of the be urged on Sterling Area.

The extent of the Sterling Area's gold and dollar deficit in quarter of last year, the final however, underlines the need for speedy action.

The immediate steps to be taken to prevent a continuation of the heavy drain on the central dullar reserves must, gold and therefore, include cuts in the in- dividual import programme.

Even with larger supplies of capital goods from this country these cuts are bound to mean the slowing down of development programmes but this must be accepted as part of the price of Sterling Area in keeping the

existence.

Hardships

must be expected hut the Finance Ministers' con- ference will surely have failed if it does not in its purpose

beyond the immediate problems and lay the ground- work for a more constructive policy based on a long-term ex-

He reported that buyer resist- 15 spreading from small ance

This goods to cars and houses. suggested a recession in spending on the part of consumers of a magnitude not to be ascribed to Many factors the applied credit stringency.

NEW APPROACH of living the increasing cost

Meanwhile our exports of heavier taxation, irregular wool value and Brought and bush capital goods, for which there is

es in the agricultural districts still keen world demand, have louk

probably all

combined been held buck by a shortage of have

and

psychologically raw materials, particularly steel. Anancially

The new to brake the momentum of the

Government has, which characterised the therefore, decided to adopt a new boom local situation for some time.

oppinach to the problem of cx- ports. Stress will in future be laid on exports of capital goods and other engineering products and raw materials are to be for this purpose made available

at the expense of home consump-

on the steel In a statement

pansion of exports.

Inquiry Into Steel Dispute

Washington, Jan. 12.

Union Underwisters

SHIPPING

Asia Nay

DOCKS, ETC.

K

**TJIBADAN"" “BOISDEVAIN" “TJIWANGI

-VAN HEUTSZ"

TJINALENGKA"

WingsMore, Penang, Djakarta D

Sapan Ports

Blagapore. Diakerta, Semarang.

Surabala & Macassar Singapore, Penang & Belawan Deli Singapore, Mauritius, R. & 8, Africa &

8. America Japan.Ports

Bjakarta. Surabals & Macassar Djakarta. Semarang,

Macassar

Singapore,

JÁN. TYES Jan

Jan

29th

Feb $1

"TASMAN

TILUWAH"

"TJIBÓDAS"

~TJIWANGI”

Feb,

9th

Feb.

13th

Singapore.

Feb. 14th

Feb 29th

"TABMAN" --TJISADANE"

Feb

Mar. 5th

"TJILUWAR"

"BOISKEYAIN"

Mar. 15th

Mat. 24th

Mor, 28th Mar. 31st

Apr.

"VAN BEUTEZ" "TIWANG?"

"TILLUWAH”

"STRAAT

MAKASSAR” "THWANGr"

"THLUWAR”

"TEGELBERG"

"BOIRSEVAIN" "TJIWANGI"

"TJIPANAS”

תור!

13th

Apr 19th

Apr. 301

Max 15th

May 17th

Jakarta,

Barabala & Macassar

Sezporabe.

Hurabala

Semarang.

Singapore, Penang & Belawan Delt Mall, Singavors, Mauritius, E. & S.

Airten & 8. America

Singapore. Djakarta,

Surabala & Macassar

ACITARE.

Mania Singapore, Mauritius, E. & 8.

Africa à 8, America

singapore, Penang & Belawan Delt Singapore.

jakasta,

Surabala & Macuimar Singapore, Djakaria,

Sematang.

Semarang,

Surabalu & Macasar Manila, Singapore, Mauritina, E. & S.

Africa & S. America Singapore, Djakarta, Semarang.

Barabain & Moonswar

Kingapore,

Djakarta, Semarass.

Surabain e Macassar

Manila, Kingapore, Mauritius, E.

8. Africa & 8. America

From

ARRIVALS

Jah. 14th Jan. 19th

Jan. 23rd

GETIMALENOKA” Feb sch "TABMAN"!

Feb ATHLUWAN”

Feb. 18th

Feb. 25th

"VAN HEUT6%"

#

5. Ameriça, Africa & Singapore Macassar. Surabala, Semarang.

Bjaknyta & Singapore

H America, Africa. Singapore

Manila

Japan

Penang, Belawan Bell & Kingapore Macassar. Sumbata, Semarang,

Jakarta & Singapore Penang Belawan Deli & Singapore

General Agents,

HOLLAND EAST ASIA LINE

TELEHONES: 28015 50

DANNATO, HI KOAÐ

11th

22017

BIG VAN

SAILINGS TO EUROPE

"AAGTEREKK"

Jan.

13th

"OVERIJĄ BL"

Fed.

7th

"HOOGKERK"

Mar

7th

ARENDEKERK”

Apr

7th

Nails

BAILINGS FROM EUROPE

Hatterdam

Arrives Hongkong

HK Bank Eay! Azia

1555 1578

140

30 g

1670

"OVERIJSEL"

Sailed Neç. Ist

Jan.

14th

"HOOGKERK"

Salled Jun. 3rd

Feb.

4th

ARENDSKEEK"

Jan

Mar.

6th

"KIELDRECHT"

Mal

5th

Apr.

2014

Ba

"AAGTEKERK"

Apt.

2nd

May

4.90 0.20

1.40 1600 1.30

KINGS BEE DING,

JONENE

AGENES

101 103

6.70 6.90

1315

13.80 2500 13

316

3815 39

5.80

1.25

300 @ 5.00

50

15

PENINSULAR

UTILITIES

4

16.06 17.10 200 @ 18.83

4000 16.90

117

1000 @ 116

C Light (0) 435

300 6.55

2000 @ BAŬ 1000

Wher! N. P Whart Dock Provident S'hat Dock Wheelock

LAND, ETC HK Hotel HH Land S'hai Land Humphreyan

Tram

Peak Tran

(N) Star Ferry

C. Light IN) Klectric

Electric (B) 215 Telephone 142

INDUSTRIALS

Cemen:

STORES, ETC

Dairy

Watson

L Crawford

1670

6

23 1300 23

361 62291

100 211

17 3000 @ 10.80 1000 16.75

19 10% 1900 18

1139 1050 20

38

Talks On Rice Purchases

Rangoon, Jan. 12.

Mr A. Ratnayake, Ceylon's Food Minister, today opened 'alks with Burnèse Government officials here for the purchase

QUIS NOS SEPARABIT

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CANTON"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 18th January at 5.00 p.m. for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE BY NOON on THURSDAY, the 17th January, 1952.

of Burma rice during the year. SPECIAL NOTE: With the exception of hand packages

Mr Ranayake who

arrived

here last night, is expected to

sign

R

rice agreement with

Burtne during his eight days'

stay, official said.

Ceylon's

ORDERS CANCELLED Manifestations of this Austra- the Venezuelan; however, the survey said, and lian business trend were seen in bargain sales by stores. cancella- that Venezuelan cronomie imp rtance is out of pointed out

other thanting of domestle and overseas

because of tion. all proportion to ner still small exports in fields.

orders by traders petroleum had not had the same population.

However,

accumulated stocks, the need for enrouraging results.

liquid capital, the active market

སལ

with in second-hand cars further financing of such pur- chases (or of new cars run only for

pleasure) by the Common- BEST CUSTOMERS named I!

the Netherlands wealth Bank, and curtailment in Indies AS Venezuela's house building owing also to the materials which matter in the West

credit restriction. The world

quoted most important export market.

The article analysed Australia's

LIBES. figures to show that Venezuelan followed by the United States,

foreign

"trade·

during most of 1951

home production of While only Trinidad, Canada, France oil production is second

and noted that these figures to that of the United States in Britain.

Venezuela would indicate that imports con- steel had dropped as a result of the world.

The

survey

those fortunate tinued to exceed exports and that lower imports of German scrap Was one of

be and foreign iron ore, the needs prices, not The survey is divided into !!

shown a the trade position will countries which had

Otis Brubaker, union sections dealing with organs of

regula constant favourable balance in reversed unless wool prices rise of the defence industries would

steel-decline in imports continue to rise for some time research director, presented 150 trading government, laws and

Tokyo, Jan. 13. finance, power services, their visible overseas

takes place. lons, and agriculture, indus

The deficit on longer before levelling off. account.

four-man Japanese tuna! "In the face of a trade deficit pages of graphs and statistics t invisibles also will be higher, the

a special Wage Stabilisation Venezuela's imports showed a

gravity," the of unparalleled

trying to settle industry mission is expected to Bourd panel The in-report concluded.-United Press.

statement continued, "it is now

United for the before the CIO'S leave the dispute and trade. A special section is similar steady rice devoted to petroleum, Venezue-crease in the value of imports

apparent that the best prospect strike deadline on February 21. States to petition the Congress of achieving an increase in ex-

Mr Brubaker said the steel for postponement ports is to produce for overseas workers' demand for an 18% proposed bill for a three per sale larger quantities of plant

cents hourly pay increase, a cent duty on taw tuna, accord- machinery and steel goods of all kinds."

situation the Government recent- Holy pointed out that in the face ur of the national steel shortage of 1,500,000 tons, the mounting

Premier, Dr Senanayake, EMBARKATION: claims of the tlefence programme

The first phase of the Governinitiated talks with the Burmese

of investigation

a Premier, Thaicin Nu, for the steri ment's it imperative to allocate and the export drive had made supplies to the most important threatened steel strike ended to- purchase of 600,000 tons of rice day with the CIO Steelworker when he visited Rangoon two Union claiming the industry months agui--Reuter.

50 cents an hour without raising could raise wages as much as

4x

transport, public

works

said

and

la's principal export and the into the country since 1943 hud

main foundation of her seus trade.

over-

been amazing.

"Since Venezuela has no syg

The survey said petroleun: tem of exchange control, trade export figures rose slowly dur-with individual countries does not have to be in balance over ing the period between the two world wars and immediately either a short or a long period: Sales nevertheless with exception after World War Two.

the

had been irregular since 1948, of the British and Dutch West

ECAFE

TALKS

IN RANGOON

Inly survey

of

1 or

Nearer To Reparations Agreement

DOUBLE ADVANTAGE

Mr

Japan Worried

A

soon

on the

guaranteed anal wage and 19ing to Kyudo Press. other concessions were reason-

The decision to send a mis- ables and jualfeble, They wonid not, under existing wage-

wesion was made by the Council price regulations, make the inon Tuna Exports on Saturday, try eligible for a price rise. the report said. It will be head- Tsunejiro Hiratsuke, He disputed industry claims ed by

carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings, only.

Will take place on Friday the 18th January between 2.30

p.m, and 4.00 p.m.

AMENDED

HONG KONG GOVERNMENT IMPORT & EXPORT

LICENCE & DECLARATION

FORMS

THESE FORMS ARE NOW IN FORCE,

ON SALE AT

This policy has double advantage. In the first place it should make it easier for this country to correct the serious de- icit in its visible trade account. Agregate a 50-cent hourly raise Company and ex-Transportation SOUTH CHINA MORNING POST, LTD.

by exporting targer that the steelmakers could Indonesia moved Surons of capital goods and afford even that much without

that the union demands would adviser to the Nichiro Fisheries

but declared Minister-United Press.

for the workers

propte

Hong Kong & Kowloon,

Pacific For East Line, Inc.

Indies, which take large quan titles of Venezuelan exports of crude petroleum for refining and reshipping, and which have

Tokyo, Jan. 13. corresponding share no Venezuela's import trade, most Japan and of her best markets are also closer to #reparations agree-

ment yesterday when both coun- other engineering products to increasing prices by dipping among her best sources of sup-

it into their excees the survey said,

tries made concessions, becord- the rest of the Sterling Area

At the industry's request the Canberra, Jan. 12.

said that trade ing to Foreign Offee pources, should help make it easier for

want Mr. Richard Casey, Australian with Western Germany had now

inio recess until Service reported those countries to make cuts in WBB

their imports from America and February 1. It will be resumed External Affairs Minister, a recovered to the pre-war level do News

today.

in. New York with economist nounced today that Australia and will probably soon exceed

Europe. Director Eli Wijami of the Western will send two representatives to that level. It added that in Asian Affairs Bureau of the Supplies of steel to the export- Murray Emer

detailing the the United States Japanese Foreign Office and Dring ind

industries can

abdel workers meeting of the United

arguments for Nations Ecchamic Commission ports from

cham Common were considerably less in 1950 Djuands, chief of the Indonesian assured, however, if correspond the guttenloed sandal wage, a for Asip TECAFE) in Rangoon this than in previous years, although delegation, met for two boursing cuts are made in Home conayemand The Industry SAN FRANCISCO, LOS ANGELES

imports from France, and the

The third Japanese sumption. The Government is, begin: telling its wide of the month.

to Include dispute on Fetery 4-/United Netherlands rore in compari resterday

therefore, expected plan was presented Imports Iron Britain oorweghe ER that time.

further restrictions on capital in Pre Mr R. J. A Dunlop, Trade on

the talica, Indonesia

in this country among during Commissioner in Calcutta, will were slightly less in 1950 than

hav accepted the economic measures shortly attend the sub-committee on in 1940: H

reported to Venezuela wanted to secure Iran and steel on January 16

Muraduation to 17. Mr Thomas Crithity, entry of her rude all into the the purereview that the to be announced.

the

to

da

vraiment

only

be

Only the rpoel esential invers. Exchange Rates Japen Trade Dr Japan the present crisis. Coal trahi will attend the sub-corante favourable as those which pre-would offer would mat hamper meat will be undertaken during sary for port and power production, will

Acting Commissioner in Malaya,

Lerma United States on

印刷

on Industry and frude, opening Velled before the termination

on January

日 in 1051 at the US and that

Mexhan agreement, the beng balvotog

They with... vene var delo. Aty of which venezola

ates on the mall Commission, by virtue of the port favourA which opens its Cirblini nekalon en nation polity

United two whiels

nesia. will be borne by the other thinki

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