1952-01-25 — Page 9

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21

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Djakarta, Bemarang, Abrabala & Macassar

Singapore, Mauritius, Dar-es-Salam, Zanzibar, S. Africa & 9. America Japan Porta

sincapere

Djakarta. Bemarang,

Butabala & Macassar

Djakarta, semarang, Botubula

Macassar

Singapore, Penang &

singepera, Djakarin, Bemarang.

Kingapore, Maurtina,

Jan 21h

Зарат

VAN BEUTSZ"

Jam. 29th

Singapore.

Jan 13st

Bingafroze.

"TJIT JALENGKA“

Feh

€14

"TASMAN"

Feb Ish

"TJILUWAB”

Feb :301

**TJIBUBAB

1'eb

150

TJISADENE"

feh idth

Japan

"TASMAN'

Feb 2731

Belawan Bell

*TJIWANGI"

Feb.

201

Hurabain & Macassar

"TJIPONDOK"

Mar

5th

Diskarta.

Tjirebon,

Bemarang,

Burabala & Macassar

TJISADANE"

Mar

Sin

5. Africa

&

8. America

"THPANAK

33 мг

702

Mantle,

Singapore

&

"TJHLUWAR"

Mar

15th

Africa Всомагани

**THIKAMPEK"

Mai

23rd

Djakarta,

Bemarang,

"BOISSEVAIN"

Mar

23rd

"VAN HEUTSZ“ "TWANUF

Mar 25th

Mar 3150

"TZIBonas”

Apr. 14th

"TJN.UWAR”

Apr. 15th

"TASMAN

Ap 254h

"TJIWANGETM

Apr 30th

"STRAAT

MAKASSAR" "TAL.CWAN"

May ond

May 15th

Kingapore. Djakarta.

Surabala & Macassar

Tjirebon,

SpraBala & Macassar

Manila, Bingapore, Mauritius, E. & 5.

Africa 5. America

Singapore, Penang & Belawan Detl

Singapore, DJakarta.

Burabala & Macassar

Tjirrban,

Jakarta,

Surabata & Macassar

Singapore.

Semarang.

Semarang.

Jakarta, Semarang.

Surabaja & Macassar

singapore. Penang & Delawar Dell Singapore,

Jakarta, Бетагаль

Surabala & Macassar

Manlia, Singapore, Mauritius, E. & 8.

Africa R. America Hingapore.

jakarta, Bemarang.

Macassar Burabala &

ARRIVALS

From

"TJIPANAS"

Jan. 23110

M

America,

Adrien, Singapore &

Dlaniti

"TJITJALENGKA”

Teb

4th

Japan

"TASMAN"

"TJA.LWAH“

Feb. Feb.

Rih

FOLD

"TJIKADANE"

Feb

Izth

3 America,

"VAN BEUT52"

Frb. 24th

Penang Belawan Deli & Singapore Sarabala. Мисавлат

bemarang, Djakarlz & Singapore

F. & S. Afrin Singapore &

Manto Petang. Belowan Deli & Gingapore

General Agents,

HOLLAND EAST ASIA LINE

SAILINGS TO EUROPE

"OVERIJGEL"

Feb.

7th

"HOOGKERK"

MAI.

7th

"ARENDSKERK"

Apt.

7th

"KIELDRECHT"

May

tch

BAILINGS FROM EUROPE

Salu Rotterdam

Arrives Hongkong

"HOOGKERK"

Solled Jan 3rd

"AREND KERK "

Jan.

Frb

·lar.

Beh

Sch

"KIELDRECHT"

Mat

5th

..pr

19th

"AAGTEKERK“

Apr.

2nd

May

8th

"OVERUJBEL"

May

2nd

June

7th

28017 3016, 25113

KING'S BUILDING. TELEPHONES: 28015 10 CHINESE AGENEN 82, CONNALRAFT ROAD

FIE

American Analysis

Of Japanese

Prospects

Trade

Washington, Jan. 24.

a continued

The short-term prospects of Japanese trade expansion appear to be favourable, but over a long run they would depend on con- tinued intensive economic activity and world trade, the Federal Reserve Bulletin said today.

The Bulletin is issued monthly by the Govern- ors of the Federal Reserve System, the centrai banking system of the United States.

Stressing Japan's extreme de- to the Dodge stabilisation pro- pendence on foreign trade, the gramme may not again hamper

said that the further expansion in

and production of Japanese tracke trade," it said,

1 depend largely

Bulletin

recovery would also

the

introduction

fist al.

credit and exchange rate policies designed to maintam the com- petitive position of exports.

THE CHINA MAIL, FRIDAY, JANUARY 25, 1952.

Japan's Import US Policy In

The

Tokyo, Jan. 24. Japanese Ministry

of International Trade and

industry hopes to step up

Japan's

bas

Emporis

from

ала

Pound Sterling, areas

scheduled talks next week for that purpose,

The Kyodo news agency today that the reported

Trade Ministry seeks to fix quarterly or yearly quotas of imports from Australia, Bodia, New Zealand, Hong- kong and Britain.

is to pare

Pound

The abjeci Japan's mounting reserve.--Regler,

Japanese Membership In IMF

REPLY AWAITED

Dominant Factor MESSAGERIES World Economics

Review By Experts | HONGKONG

London, Jan. 21.

Report to the Economic and Social Council ol the United Nations on "Measures for International Economic Stability" has been issued.

SHARE MARKET

From Our Correspondent)

Business

On the Stock done Exhange this morning was Noon valued

$358.455. Suedations and the robing's

The report was prepared by five experts who were requested by the Secretary-General of the United Nations to formulate and analyse "practical ways" of reducing the international impact of economic recessions and to give attention to concerted international action to reduce fluctuations in the volume of trade and in the prices of Viennya tidas primary commodities, and thus to moderate the swings SHARES BUYERS SELLERS SALES in the terms of trade of under-developed countries which accompany such movements.

Professor Considering what may happen erly aller the present period of rearm-National School Lament

ut the:

BANKS

500 13.85

ак 33k

KS ETC

1582

Evorions s

10%

150

1. 321 What

5

4

204 171

izvidual 1300

... 1390

Son Dock Werk

3:10

44 500 43

700 43%

6.60 5.70

and infelion, the nu- Mexico; M: Hia Melint be true.

in Colonial University, formerl "if a future recession size and duration of that of the Economies. Rango, Phiveraty. Washington, Jan. 24.

Sun Pa Trevo W 1930's het to be contemplated. and Mr Japan * expected to reply

we would be unable to sugge fessor of Econuen. Australian LAND ET by the soon to a suggestion

At the an measures that would make much National Unive International

Fuod Monetary

to its Internationa!! vitation of the group. Mr Angell difference the that the Japanese quota in

impact and which at the same acted as chairman IMF be set at $250,000,000.

This was the figure arrived cable or acceptable."

time might be regarded as prac

al by JMF officials after con- sulation with Japanese repre sentatives here and

If accepted, it would set a pat- fern also for Japan's quota the World Bank. which traditionally has placed the quota of a member at the same figure as the Fund

תּן

The group met Nations

permamen!

Their

the Unit

*Think

57 50

1:0

14 141 500 I 144

17.56 179, HALS CO

HK Hote! Ik Land S'ha Land flumphos -

CTULITIES

Tran : 23%

34

P Tin (NÍ 114

Star Ferry 113

Lgh rh ABG 1 90 1000 m

73

2000 or 8.80 5.16 1000 7 0.10 2324 24 300 24

nea qu during seven They assume, however. that ters. Nez York.

week frm August to October country industrial every large 17 Tokyo.

sport which would seek to act in accre dance last year. with the full employment pleiges has been dist ruted to all mem- anbodies #

in the United Nations bar governments of the Daitei

In other natimal Nations, will be consite ed at Elee Bonus) 221, 22, 3000 225 Charter and

international Instruments the next session of the Economic

it That assumption.

is noted, and Social Counci would still leave the way open- for

whose recessions Lional impact might present other countries with very serious problems.

The importance of the quota figure a member country 18 that it governs the voting power of the and borrowing capacity country concerned. if Japan

in at comes

the $250,000,000 figure, she will be eighth in the Bank and Fund hierarchy.

The top quota is that of the United States, which 1, assessed

Others highe ut $2,750,000,000.

17

MAIN RECOMMENDATIONS

#:

-

Canadian

Dollar A

Paradox

Three specie kinds of recent – imendations for international ac

tion as a "small insurance mium against recessions" made by the group. They

International commodity agreements (such as multilateral quote systems or buffer stocks to reduce the impact of sho:1-

New York, Jan 24 "in the

demand and run swings

New York

Canadian supply of primary products,

final circles are attempting (2) Expanded long-term lend- to anulyse the paradox by ing by the International Bank which the Canadian dollar has for Reconstruction and Devetop-reached parity with ment to help prevent the setback American dollar and seemed to national development pro be headed for a slight premier grammes that would be caused one

and

than Japan would be the United Kingdom, China, France, India, Canson and the Netherlands.

The general rule applied by and Bank is that a the Fund nation may borrow no more in foreign exchange during any single year than 25 per cent of its quota. This would mean Japan could get up to $62,500,000 hard-currency Joans any year for development projects drop in export receipts and over the latter currency.

In private international invest- approved by the Bank and Fund.

ment; The Fund, in arriving at a

(3) Larger international mone- quota. lakes into account the

Lary reserves, provided through historic pattern of trade for the

the International Monetary Fund, country concerned. In the case

an to offset short-run fluctuations of Country such as Japan.

in foreign exchange receipts. which is expected to be one

It is pointed out by the larger traders in the world market, the quots is permitted perts that the economic principles day's

a

2

ex- the

The

1000 22

Teleshon

246

500

1000 4 16

INDUSTRIALS

+

37 10 17 80 4000

600 x 17.73

Home

2415

15:00

255

177

25

STOKES ET

T

19

Kalvan

1. Cywfound

COTTONS

Mw.

3 3 20 1000 @ 310

MUNCULLANEOUS

Entertalar 38+25? 18

Yangtze

10 4.10

Cotton Price

In NY

New York, Jan. 24. Prices of culton futures closed Euday as follows:-

The paradox was that The chief impetus behind the Canadian dollar's stendy rise, since il was decontrolled

pro- Su September 29, 1950, was vided by a steady flow of U.S. Man iny setment dollars auto Cenada.

With a 3. 16 gam over Mon- closing level. the

May

May

42.05

41,70

41.43-41-46

- United Press.

41.56 4156-41.67

40.97-410)

NEW ORLEANS MARKET, to be larger than the case of on which these recommendations Canadian dollar reached parity

the US. d.lar un

Tues March comparatively re based are already tamiliar. With country with

But no international machinery day in New York and London. smell world trade interests.

According to Pick's

World July IMP officials said the Japanese can be effective unless the great had given

indication yet industrial countries, and espectul Carency Report, Canattian cur-

henry went to a premation on March 1953 figurely the United States, provide the whether they found the

Tuesday in Parts, Vienna, Milan May necessary leadership.

Judy agreeable-United Preas

Beyrouth. It was worth more than the U.S.

110

FOREIGN EXCHANGES

IN NY

The short-run prospects of continued Japanese trade expan- sior appear to be favourable.

"Over

a longer run, the ex- of Japan will Japanese term position

depend on the maintenance of Canada

England official clear that the in-high levels of economic activity

trade. which re-und world flationary pressures tarded Japanese recovery prior

"It is no!

The Rubber

Markets

London, Jan. 24. Prices of rubber

futures closed today as follows:-

Number rubber, in cents

per lb.

401-15

40-14

40-4014

393%-40

March

April

April/June

July/September October/December

of

mate-

It said that plans for economic development in Asia and the development of new sources of food and industrial raw rials to replace Chinese suzd Manchurian sources should help to bolster the Japanese economy. A TRIBUTE Acknowledging the resource- fulness of Japanese cial and industrial interests, the Bulletin said: "The constant

for

from protection pleas

other Japanese competition in

commer-

countries attest to the ability of

Japan to

to penetrate foreign mar- kets and to create a demand for Japanese products."

New York. Jan. 24

unofficial

30-day futures 90-day futures

Australia New Zealand South Africa

France

US$0.99-1/33

2.70%

to

the

that

and

level,--

REAL DANGER

Land Economic fluctuations in the two brunes United States, it is believed, are dellar in the Paris free market. At the opening of New York the real danger to world econo

Cuna:lias: dollar mie stability, because of that trading country's dominant position injecraimed at parity. international trade and pay-

Foreign exchange circles hore ments, and because af institu- see no reason for expecting cional

economic and

factors to fall below, parity again which make the United States many predict that will

internal shghtly beyond more sensitive

United Press. fluctuations.

As an instance, the experts note that during the United States recession of 1937-38, mer- chandise imports declined by 36 w

gimtia: per cent. Today, a

ion would

reduction cession of United States dollar receipts by the rest of the world (over two-year period) of as much $10,000,000,000 compared with current annual receipts of about $20,000,000,000 excluding military

BS $1

ald.

mean

له

а

LONDON TIN

MARKET

London, Jan. 24. Prices of in were

very ri this morning. Turnover was 17 tons. Including 30 tons for cash. Prices closed at the end of the

session morning

The report adds that present official levels of gold and dollar reserves follows-- in most countries, together with Spot in, buyers such assistance as the Interna- Spot tin, seliers, tional Monetary Fund can pro- Business done ift

Three-month tia. vide with its existing resources, Three-months tin. quota provisions and policies, Businest done at

to Settlement inadequate quite

drop are

2.33 bid/ 2.38 asked

2.77

2.75%

2.2214

27834

Belgium

0198!

Denmark

1455

.0028-4/16

West Germany Holland

4.20

2635

Italy Norway Portugal Spain

11063% .1405 *370

Sweden

0935

Switzerland

7289

MIDDLE EAST

Egypt

2.88

Trac

Tran

Turkey LATIN Argentina

Brazil

03125 281.

5375

AMERICA

art support.

0705

IR

0500

Bry serious dollar receipts,

Nor

Bolivia Chile

0150

$4025

1.00

it

.1156

0500

Uruguay

ABO

Venezuela

2005

FAR EAST India

Pakistan

2030

Hongkang

1750

Indonesia

3040

Singapore Japan

300 yen to UBĻI

United Press.

The article said that the ter- of American aid to United Pre

mination Japan last June had presented SINGAPORE MARKET

the fundamental columbia Jepan with

Im- Cuba Singapore, Jan. 24.

problem of reducing the

Mexico Prices

rubber

futures balance of trade with the Unit-

Peru.. closed today as follows:----

ed States. Number 1 rubber, per lb.

This

problem would tend to become increasingly critical in the event of a settlement of the Korean war, as more than half Japan's dotar-earning exports were special procurement de- Nations liveries to the United Command,

January

February

March

Number

rubber,

January Number 3 rubber

rubber.

January

Number

4

- January

Spot Tubber, unbated

Black crepo

No. 1 pale crepe

139-130 1281⁄2-

13414-45

13114-302 1,29-12912 139-130 105-106 145-100 Untied Prem.

ECONOMIC AID

REJECTED

It said that a barger volume of Japanese trade with the Ster- ling Area might result from the new financial agreement con- eluded last September with Britain.

WAB CLAIME But as Japan's holdings of Sterling were inconvertible -

the resources of the Internation- al Bank adequate for the anti- recession task they would assign

The report is the third in a series of major economic reports prepared by United Nations' ex- perts. In the two previous re-||

"National and Interna- ports, tlonel Measures for Full Em- (December, 1848), and for the Economie De-

Under

-Developed 1951), proposals were made

far-reading for changes in the organisation and

of

Countries" (May

Grain Prices policies of the International

In Chicago

Bank for Reconstruction and

he Interne Development and the tional Monetary Fund.

PANEL OF EXPERTS While agreeing with the broad economic analysis in the pre-

the

Chicago Jan, 2 to dolls her exports to the Prices of grain futures clowedvious report on full employment, Sterling Ares might be limited today as follows:-

the experts reporting in the pre- Rangoon, Jan. 21.

Wheat price per bushel by her inability to obtain the

int study point out that Burma has virtually rejected desired amounts of

Repsi nominal specific proposals they of importa Spot that

Murd

soptione ald under the Ameri-n that exchange Beblemben

can Mutual Security Act, a "The Bulletin.

diplomatic source disclosed herotial transfers,

but rabelansu

May

The Government is understood would be required to service the Corn

to have argued that the demand various external claims against ch

that signatory countries take no Japan arining from the war,

tion with Amerter in promoting a further expantion of the

world peace would conillet with forelan -trga zarative.

Burma's neutral poation,

May

forward differ sinsel

put for from those in the previous re

The group included Mr James WiAngell, Protemor of Econo

Fylkestry Officer of

R2

October Decemties

37.74 hid

37.20 bid

United Press.

Weekly Bank Statement

London. Jan. 24

state- The Bank of England

the week ment for

er ding January 23 reads as follows:→→ Notes in circulation £ 1.353.2,000

Public depois

15.205.000

Private deposits

Government securities

Other securites

Rereipia

Bank ratio

M

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Arriving Leaving

#rb

Frh 15

Outward For

24

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Homeward For

In Port

Lip

26

1

290

Jan,

N

Mar

Mar. 25

Mar

Alar 7

26

passengers & freight.

Marsellies via Mantia

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Subject To Change

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CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

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M.V. "LA MARSEILLAISE"

will sail for

MARSEILLES

via

MANILA, SAIGON. SINGAPORE, COLOMBO, DJIBOUTI PORT SAID.

mn

Saturday the 26th of January at 10 P.M.

Passengers are requested to board the vessel with their cabin baggage on Saturday the 26th of January between 6 P.M. and & P.M.

Baggage room and bold luggage will be registered at Kowloon Godown No. 50 (No. 2 Gate, Canton Road Entrance) on Friday the 25th of January from 9 a.m. to 4 p.m. and on Saturday 26th of January from 9 a.m. to NOON. No baggage will be accepted for registration after this time.

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NEXT SAILINGS

M.S. "OLGA MAERSK"

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M.S.

HULDA MAERSK"

ARRIVALS FROM U.S.A.

291,413,000

10,496,000

48,317,000

133

M.S.

TREIN MAERSK"

unted Pre

Trade Pact Ratified

New Delhi, Jan. 24. India and Afghanistan today of instruments exchanged BU

ratification of the trade treaty 990

signe:)

on April 4, 1930. The 900-929

valid .for three years, treaty. buyers 22O sellers 9012 provides most-favoured-nation

987-985 treatment for bath countries

090

-United Press

Reuter.

M.S. "PETER MAERSK"

M.S. "NICOLINE MAERSK”

Feb.

Feb. 14 Mar

Feb. 15

Feb. 29

Mar. 17

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