1952-01-17 — Page 9

MESSAGERIES MARITIMES MOM

"ZELIDJA"

**LA MARSEILLAISE"

"BASTIA"

"MORTAIN”

+"ZELIDJA"

*

Arriving Leaving

Fab

15

Feb

Outward For

Guigen

Homeward For

Marseilles via Maulla

* Saigon

22

24

Зад, 39

3

Mar. 24

Jan. 31

* Mar

Mar. 26

N. Africa & Kurope

F. Africa &

2. Africa & Europe

Europe

Mar

passengers & freight

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

Subject To Change Without Notice

CIE DES MESSAGERIES MARITIMES P.O. Box 58, Hongkong

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

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S.

"GRETE MAERSK"

M.S.

"OLGA MAERSK"

M.S.

"JEPPESEN MAERSK"

M.S.

"HULDA MAERSK"

M.S. "TREIN MAERSK"

ARRIVALS FROM U.S.A.

MS. "PETER MAERSK"

Jan. 21

Feb. 2

Feb. 13

THE CHINA MAIL, THURSDAY, JANUARY 17, 1952.

BRITAIN AND COLONIES Economist Expresses Critical Views

Sino-Japanese

Trade Talks

Tokyo, Jan. 18. Japanese ami Chinese Nationalist trade officials met today under Occupa tion spatteorship to work out

extension of the existing trade and financial agreements 10 that they would not expire when the Japanese peace treaty cothes into effect,

Japan is expected to seek further shipments of Formosan rice and BREAT snd sell the Chinese Nationalists mainly ferti- lisers and cotton textiles.— Reuter.

Gains In Output In 1951

DISCLOSURE IN

Continued Accumulation Of

“Unspendable”

Sterling

(FROM OUR OWN CORRESPONDENT)

London, Jan. 16.

A critical view of the Colonies' position in relation to the present Commonwealth finance talks in London is given today by the noted West Indian economist, Professor W. Arthur Lewis.

In a feature article in the Financial Times he points out the disadvantage to certain Colonies of continued accumulation of "unspendable" Sterling balances and predicts that they will go on rising throughout this year and next.

an

This will happen, he says, because the Colonies have no direct representation at the present Common- wealth finance talks and therefore have not the op. portunity of "directing their searchlight upon those British policies which prevent them getting adequate supply of manufactures from Britain.”

Professor Lewis points out that the Colonies are the only group territories whose Sterling balances increase all the time.

"Britain tothis of Colonial development." he goes on, "hut on the contrary It Is the African and Malayan peasants who are putting capital into Britain

af

"For the first time since Free

TRUMAN REPORT Trade was adopted in the middle

Port In Feb. 16 Feb. 29

1w0

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel: Nos. 36066-9.

Philippines Views

On Reparations Talks With Japan

Manila, Jan. 16.

Hope that the Japanese in their own interests will be willing to go beyond the wording of article 14 in settling reparations with the Philippines was expressed today by Foreign Affairs Secretary Joaquin M. Elizalde.

Artic 14 provides that Japan may enter into dis- cussions with claimant nations for reparations payments in "skills and services" of the Japanese.

Celluloid

Factory For India

Tokyo, Jan, 16. The Japan Celluloid Company and an Indian frm are pushing properations for the establish- meat of a joint celluloid pro- cessing company in Bombay.

The new Foreign Affairs Secretary in his first interview said that as matters stand at present, he can only hope that the Philippines Senate will ratify the peace treaty which the administration signed Jast September in San Francisco,

A great deal will depend upon the attitude

of the Japanese delegation which is due here on Jan. 25 for exploratory tulks on the reparations problem, Elizalde said.

Mr

United

far

Since neither the States nor the Philippines has ratified the treaty as yet. he said, the discussions with the will be delegation The plan was undertaken Japanese

informal and preliminary, The because of the present circumstances under which Japan agenda for the discussions had experiencing great diiculties no been well defined in the

thus communications celluloid arud exporting

between the two governments. celluloid ware into the Indian markets.

"I don't believe it will he Japanese exports of celluloid impossible for Japan to go are at present hindered by the beyond the wording of article high import tariff the Indian 14 of the treaty,

commented Government

Mr Elizalde. "The future ad- imposes 15 per cent on sheet celluloid and 85 vantages that would result for per cent on celluloid, although Japan in the way of trade and india offers a good market for good relations with her Pacific celluloid.

neighbour, if she takes a liberal The plan

view of the reparations clause the the of the treaty, are a great that following points: (1) of joint company's capital, half she cannot will be paid in kind by the them." Japan Celluloid Company which,

STARTING POINT according to agreement, will

that the Mr Elizalde sald offer processing machinery and

а use as technicians; secondly it will pro- Philippines would res only shoot celluloid of the starting point its claim for $8.-

Wo He said: Collutold Japanese

Company: 000,000,000. thirdly, its Initial processing have to have a starting point capacity will be somewhere and that is the one the experts around 100 tons per month; and, I have arrived et." fourthly, it will start operations But the Secretary hinted that anand April.

Meanwhile, it was said that the Japatieso Celluloid Company expected to receive

mom Inquiries along a simling line from Pakistan, and that if the

encompasses

afford to overlook

HONGKONG

SHARE MARKET

а

(From Our Correspondent)

means of economite ex-

of the 19th century the British Colonial system has become major ploitation."

The volume of business done

Quiet Day In Cotton Futures

New York, Jan. 16. Cotton futures were steady in quiel trading today. Milt

Bud

export buying, along with persistent short covering, led to early gains extending to better than $1 a bale. The market later reacted partially on profi-taking.

The Census

Bureau repcried December domestic cotton con- sumption At 672,715 bales which was about in line with trade expectations.

*TBABAR**

"BOISSAINGOS -

VAN HEUTSZ" **TJIWANGI"

CPFITFALENGKA"

IPTARMAN" *TIILUWAN"

Jan. 29th JRM. 31st

Feb.

10%

Feb. · Eth

Feb, 13th

"TJIBODAS",

TAIMAN "TJWANGI""

"PIJADANE"

**TIILUWAN"

Feb. 14th

Mar

Feb. 27th Feb. 28th

Minr. 5th

dier. 15th

Mar. 24th

2kch Mar. Sist

Apr.

"BOISSEVAIN"

"VAN BEUTEZ-

TJIWANGR

"TIILUWAB“

*STRAAT

MAKASSAR" *THWANOM

“THLUWAH"

TRNÉLBERG”

*TIIWANGT"

"IJIFANAB"

15th

Apr 19th

Apr. 20th

May 15th

May 17th

Page

Singapore, Penang & Belawan Beli Singapore. Djakarta, Semarank,

·Burabola & Macassar

singapore, Mauritins, E, * 8. Atries a

*S." America

AJARAN PINE

Singapore, Djakarta, Semarang,

Surebula & Macassar Djakarta, Semarang, Buradata &

Singapore, Penang & Belawan Dell Djakarta, Singapore.

Semarang, durabula & Macastar Singapore,

Mauritius.

E

Alrica & S. America singapert.; Djakarta,

&

Semarang,

9.

Surabaka & MALANKAR Manilla, Siigapore, Mauritius, B. & 8.

Africa & 8, America ....

Singapore, Penang & Belawan Dol Singapore. Djakarta,

Surabaja & Muenssar

Singapore, Djakaria,

Bemarang.

Bemarang,

Surabala & Macassar Manila, Singapore, Mariliis, E. & K.

Africa & S. America

Aingapore, Bjaltarta. Semarang,

Súrabala & Macamar

Singapore, Djakarta, Semarang,

Surabala & Macassar

Manila, Ringapore, Mauritius, E. &

S. Africa & 8. America

From

ARRIVALS

Jan. 19th

Jam 3rd

"TITEJALENGKA” Fab Sch *TASMAN" "TJILUWAƑ”

Feb. #th

*VAN BRUT$2"

Feb. 10th

Feb. 25th

Macassar. Kurabria, Semarang.

Djaknyia & Singapore

Ameztos, Africa, Singapore

Manila

B.

Japan

Penang, Belawan Deli & Shiri pore Macassar. Surabala, Semarang,

pjakarta & Singapore Penang. Belawan Dell & Sapore

General Agents,

HOLLAND EAST ASIA LINE

SAILINGS TO EUROPE

"OVERIJŠKL”

red.

"HOOGKERA"

"ARENDSKERK"

7th Atur. 7th

Apr.

7th

i

possessions from the loan were 33,639 bales.

The latest C.C.C. statistics showed that cotton kans for the week ended January totalled 11,514 bales, while re-

SAILINGS FROM EUROPE

Saute Botterdam

Arrives *Jongkong

10

"HOOGKERK”

Sailed Jan. 3rd

Fed

"ARENDSKERK"

Jan.

N

Mar.

414 6th

"KIELDRECHT"

MRI

sih

Apr. 19th

"AAGTEKLEX"

Apr. 2nd

May

8th

KINGS BEEL DING

KEENUSE

Washington, Jan. 16. The non-Communist areas of the world during 1951

This result was not intended. on the Stock Exchange this scored gains over 1950 in

No Engilshman desired to ex-

morning was valued at $323,850. ¡ Traders did not find anything every ploit the Colonies, the production of

To those Noon quotations and the morn- unustad major commodity except who reallsed what was happen- ing's transactions:-

ing the present system was tin and lumber.

cause of shame. It was the un- This was disclosed today in

economic foreseen and unintended result President Truman's

of domestic economle policies report to Congress which show-

which had kept Great Britain ed that the largest percentage | WHI

insolvent Fluce the end of the gains in the "Free World's" pro-

1861 were durtion in

in lung- sten, cofion and iron ore.

war.

in the President's economic message to Congress in which he again asked for

to con- Government authority troj margins on commodity markets and called for repeal of provisions in the the flexible Farm Price Support Law.

Futures closed 30 cents a to 10 cents lower

а

1670

780

GHAKÉS BUYERS SELLERS SALES BANKS

HK Bank INSURANCES

@ 1580

5 5.10

ren

$.80 7 4600 6.80

1736

885 bale higher 200

than the previous close.

Professor Lewis says the dis- of the inconverti- Tungsten production of 11,- advantage

to hard eur- 400,000 tons in 1951 was 27 per bility of Sterling

earning Colonies 19 in 1950 while rency cent more than

Without obvious.

exchange collon production amounting to

they lose nothing by 27.635,000 bales was up 26 per control

of the Sterling cent over 1950-most of the cof-membership

gain from the free ton gal being registered by Area and United States producers.

The non-Communist world's iron ore production for 1951 was about 245,000,000 metric tons, a gain of 24 per cent over 1980.

from

The United States, with an production last year of about 190,000,000 tons, was res- ponsible for more than half the free world's supply.

22 per cent over 1950.

movement of capital

WORSE OFF

But since they have been clearly worse oft than they would be outside the Stering Area.

This, however, is not the case with those Colonies who would be selling their produce for Ster- TIN OUTPUT

ling whether they were in the out- Sterling Area or not which is Aluminium production side the Iron Curtain totalled probably the majority, he con-

gain of tinu 1,583,000 metric tons, a

would still be earning Sterling, would Tin production totalled 105,- inconvertible 000 tons, while lumber produc- still have to spend it on British was 56,500,000 goods and would still have to tion for 1951

cent less accumulate unspent balances. two per

The way 重大 make Sterling than the previous year.

and stop further The percentage of production convertible gains in 1951 of some other im-accumulation of balances. Pro- tessor Lewis says, is to make British manufactures available Crude

in such quantities and at such prices that they displace dollar manufactures both in and out- side the Sterling Area,

board feet,

pertant com113270 74":

per

cent, cobalt 14, zinc 12, wood pulp 10, lead B, nickel 7, manganese ore 6, newsprint 4, copper 4, wool 3, coarse grains 3, bread grains 2. fats and oils 1, native sulphur 1-United Press.

Japan May Borrow U.S. Vessels

NO CASE

Union Underwriters DOCKS. ETC.

K. Wharf.. N. Pt. Wharf

Book

Provident Shal Dock Wheelock

LAND, pre

13.25 13.00

39 39

500 ₫ 38% | Kev

1000 @ 39 300 @ 30

BK Hotel FK Land

$.00 500

.. 041⁄2

March

July October

March

3.89 May

64

S'hai Land..

11:40 3000 1.30 Humphrey's 19.80 14 2300 @ 14 UTILITIES

Tram ..... 17.10 17.20 100 #: 17.10 P. Tram (0) 233–24 C. Light (0) 8.75 8.80 844

GÜLign (N) 5.90

Low ligh

Close 43 42.13 49.17-30 42.10 43.93 41.94-95 41.75

$1.50 41.55

39.80 30.02 38.75

38.55 38.01

28.57 38.44 38.44 Middling spot 43.05 nominal. Unchanged. Associated Press.

NEW ORLEANS MARKET

New Orleans, Jan. 16. Cotton futures closed 5 to 20 vents a bale lower. 1600 @ B

B3

March

PENINSULAR

FLEDPHONES: 28015 TO 28017 CONNATE *** ROAD, JEES 3096, 23

GUS

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CANTON"

42.30

1000 4

41.97 -88

500 # 89%

July

$1.53 -55

1000 à 6

100 23 200

Deicber

39.07 -09

December

38.73 Did

500 @ 22

Spot cutton closed unchanged. Middling

42.00 Associated Press.

SAILS:

Fen. (Boner) 2I?% Telephone. 18 15 INDUSTRIALS

Cement..... 16 17 100 18 Rope STORES, ETC

Dairy

Watson

Crawford MISCELLANIOUS

Yangtze

28

19.20

1000 101 2000 m 101/

36

4.10

1000 4.10

Foreign Exchanges

In NY

The method which appealed most to Great Britain was the alternative method of imposing cuts on dollar purchases so that Canada Sterling

are forced England-aftcial either to buy expensive British goods or accumulate still more Sterling.

holders

Norway

This was the debtors' care; Australia

New Zealand the creditors could hardly be

South Africa expected to accept it,

Belgium "There is no case for cutting Denmark Tokyo, Jan. 16.

Safety the Colomies imports," Professor France Maritime

West Germany Japan's Board, roughly the equivalent of Lewis concludes. The Colonies! Holand

Coast Guard, is are exporting far more than they-aly the American planning to borrow 10 2,000-ton Import and are building up large Portugal

patrol balances. They cannot get all the Spain frigates and 50 200-ton

need, especially Bweden boats from the United States, the imports they Kyodo News Agency said today. capital goods, and their develop Softzerland

take placement programmes The loan would

Egypt peace sequenze retarded. of the ratification

"They are, In effect, paying | tran well Britain for goods which she does req The plan is apparently advanced, for today's Cabinet not deliver. Mast further cris meeting approved funds under fices be imposed on them?" this year's budget for training of crows for tha, vessels.

after

trosty,

The chief duty of the increased

New York, Jan. 16.

LISBOA

2.78-3/16 2.34 bid-

2.38 asked 2.774:

Grain Prices

Recover Lost Ground

Chicago, Jan. 16.

Grains held to a fairly steady

course despite a monetary mid-

NOTICE

BAGGAGE:

TO PASSENGERS.

FRIDAY the 18th January at 5.00 p.m. for the UNITED KINGDOM vla 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.

day dip on the Board of Trade SPECIAL NOTE: With the exception of hand packages

today. Ground lost on the short- lived slide was Dartly 1'0- covered later.

Export salts helped wheat, Record chicken production was a factor in a steady trend for corn. Oats Jagged behind other

that cereals on fears

price ceilings might be imposed. Most soybean contracts had easier tone, but January

was unchanged

an

beld

Wheat closed 14-% higher. Corn

to 4% higher. Oats were lower to % higher, Rye was 1 to 1% lower. Soybeans were 4 lower to one cent higher.

WHEAT

Jácin)

30-day futures

90-day futures

2,7616

2.324,

2.7814

firm.

01001

1469

0038-9/18

4.20

-11064

.1405

..0370

0206

0935

2201

March

May

MIDDLE EAST

July

2.2811

September

SOYBEANS

03126

2,81

January

March

Turkey

May

LATIN AMERICA

July

2.40%

3,003% 280% 2.94-7-2.03!4 2901%

Meat Rationing

Argentina Brizl Bollyis Chile Columbia

0705

Heptember

November

2.76%

#130

Peru Wrbay

Venezuela

FAR EAST

are in con-

sea force w be to protect atter Japoneze fiching boats peace removes Line" sea frontier around Japan. In the tow years, Japanese fish- Ing vessels have been seized from time to time by both Red and Nationalist China, South Korce and the Soviet Union.

The new

would re- CTEWS quire an MSB personnet in crease to about 21,000 men from its prosent 13,500-Arsodated Press.

the "MacArthur In Argentina?

New York Sugar

Futures

$370

Associated Press.

America Facing

Competition

Washington, Jan. 16.

EMBARKATION:

* 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.

The Rubber

Markets

London, Jan. 16. Prices of rubber futures closed today as follows:-- Number 1 rubber, in cents

por lb.

Tobrunty

March

April/June

July/September

October/December

4014- 404-

United Press.

SINGAPORE MARKET

Singapore, Jan. 16. Prices of rubber futures closed today, as followe Nathber rubber, per lb.)

January

February

March

Number

rubber.

The National Federation, jot

Јапияту

American Shipping agid today

Number

Janisty

Slitgmpora Japan

2208

•

rubbe

260 yan in US71 -UnitedPress.

January

Spot rubber, unbated

Black "èrepe A

Buenos Aires, Jan. 16, Mest rationing in Argentina, ia the world's greatest exporter Pakista of meat, is proposed for the Hongkong Arst time in the country Indones history

The food caterers' union insi to the Ministry recommended of Industry and Commerce that

that the United States merchant | Number

| Beet is facing increased forėlign

competition.

The Federation reported that

14 countries which possessed no Merchant knipe: prior to Worki

all hotels, restaurants and other Exchange Rates we now have a total of

Zood establismatics förungtout

the country should have okie

mestissi day “a work

The recommendala

to the desirblis of

nstiphit diet, and made no ma

te Phdippiner posliion was not adamant and that a combebanisa could be reached if the Japanese

New York, Jan. 18. whored willingness. He waS not expecting any help from the Domestic sugar futures: No dilen of shớg.

rated States in dealing with closed unchanged to 3. lower

3.97 bid. 6.40 bil

March

Bontbay project provos profi depan on the reparations sette-May qule, it will go ahead with the establishment of more celluloids for Japan's empacity to pay pocketories in Inuja and ipaglarutions, Fiz. Elizalde buld he

World" sugar futures

In that event, u was further stredy made a condenselerer og ut

polisted out,E Japaniss' tider

celluloid, makuru whose monthly,

Would

Bank

2,011,300 deadweight tone fall

In the local |<ing on the high sear.

Lived land-locked Switzerland

T# { now..owris “more than

deadweight tons of mÈI ship, the report, saldēm

BONDS

Ho. 1-pelo drugë

New Zealand Wool Sales

Auckland, Jež ̧ 16% Wool prices

dropped from

234 to 7 per cent on last Friday's Wangapul sale rates two-day when the Auckland auction opened today.

Prices of good crassbred were. down from 2 to 5 per cent.

However, coarse crossbród was Arm on the opening rates for 1952.

The main buying activity was equally divided between Brad ford and the Continent. They sought well-grown crossbred 13914-35 wools showing good length.

The Continental buyers do 1355-34

minated the market for skirt wcols and addments, 13412-135

Was American activity fined to course wools Some buying was reported on behalf of Saputt,

13112-

LONDON TIN

MARKET

It

ronis

seemed doubtful whether any of the reverti agencies La buying for Russia, New Zen- land, wollen milis' activity was

negligible United Press

London, Jan. 16. Prices of in were very firm

Turnover wal A

this morning. 120

toss, including Ove tor

Prices closed at

colclafaz mornin;

Seeds And Oils Market

New York,

the weeds

here closed