Royal Interocean Lanes
"VAN BEDTSZ""
TJIWANGP'
SAILINGS
To
Singapore, Penang & Belawan Dels
Singapore.
Djakarta, Bemarang. Burebala & Macassar
Slogapore, Mauritius
Dar-es-Salata.
Zanzibar, 9 Africa & 8. America
Japan Ports
Маслакаг
Djakarta.
Singapore,
Remarang,
Djakarin
Surahala & Mincasar
Japan
Singapore. Penang Singapuré, Djakarta,
Surabhia & Macassa
Jakarta,
Tjirebon,
Barabala
&
THE CHINA MAIL, THURSDAY, JANUARY 31, 1952.
DISINFLATION STARTING? MESSAGERIES
British Home Trade May Be At Its Peak
Nationalisation Bemarang,
Belawan bell
Surabala & Macassar
Manila, Niggature &
Singapore, Mauritius,
8 America
S
R
Bemarang.
Bemarang.
Africa
Africa
✡
Singapore. Djakarta, SemiADE.
Sprabaja & Macassar
Manila, Singapore, Mauritius, E. & 5.
Africa & S. America
Tjirebon,
Fah
2nd Frb 2nd
"TJITJALENGKA”
Fr
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Feb
"THLUWAI”"
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Mar
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Mar
16th
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prabasa & Macausor
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Singapore,
Jakarta. Semarang.
Kurabala Macakuar
"VAN HEUT82"
Ap
201
"THIGODAN"
Apr 14th
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TWAR
Apr
Tech
Singapore,
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MY
214
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May 2nd
МАКАЯКАК
STJUU WAH
MIN 161k
Singapore,
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ARRIVALS
From
*
Japan
"TITJALENGKA“
Feb Kih web
Japan
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"VAN BEUTSZ"
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Singapore, Penang & Belawan' Dell
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Singapore,
Surabala Macki
Manila. Bingapore, Mauricius, E. & 1.
Attica & America
Surabala a Macassar
Dril Surabnia, Jakarta & Ningapore
Penan Relowan
Maçanhat
Singapore
Semarang.
. America, S. Africa Singapore &
Manha
Pebate. Belawan Deli & Singapore
Geniera, Agents,
HOLLAND EAST ASIA LINE
SAILINGS TO EUROPE
"OVERIJBEL"
Feb
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น
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KING'S BUILDING. TELEPHONES: 28015 TO 28017 CHINISI, AGA NIS 8L CONNAUGHT ROAIE C. ITIS: BEROK, VATR
Interim Treaty On Reparations For Indonesia
Tokyo, Jan, 30.
The Japanese Foreign Office today released the draft of an interim agreement on reparations with the Republic of Indonesia that sets up
final treaty framework for a
some time in the future.
In Philippines
Manda, Jan. 30 Legislative moves
for nationalisation of cer- lam aspects of Philippine
now
belug economy Bre embodied in separate bills
filed to be
for Lower House consideration.
The measures
inetude
labour.
retail trade, and the drug
nationalisation
dispensing
business
fourth
Ineasure.
teaching profession
elementary
the
the
from
pre-
nationalisation of
paratory collegiate courses,
being drafted,
France-Presse.
fs
Right To
Adequate Safeguard
Indications That Prices Of Goods May Begin
(BY NORMAN CRUMP!
M
"ZELIDJA"
To Fall
"MORTAIN" +"'ZELIDJA
London, Jan. 80.
More than two months have elapsed since the present Government took its first steps to arrest inflation at home.
Already the 21 per cent Bank Rate, with its concomitant measures, has made its mark on security prices.
Even if bankers have not yet done much to restrict bank loans, it is clear that many people feel that they will have less money to invest, while some of the largest and most prosperous firms realise that they will have to seek from their new finance from the investor rather than bankers.
Here is one explanation of the Indust: vals, which Call D
en #ccentuated,
If the general home-trade curve will be because we baselines, it
cannot afford to buy as much as
The most important question. however. 16
which the Next those new monetary mea:ures are having on the general course Int home trade
I have recently made inquiries
parts of the country at many The replies naturally Fixing, and any generalisation
a'e ron
would be dange:our
Yet there are indications that the home-trade curve
may be
RUBBER EXPERT'S ginning to turn downwards,
OPINION
Colombo, Jan. 30. Sir John Hay, director of British rubber and palm oil enterprises in the Far East, said here today that rubber- producing countries had the right to demand safeguards against low prices should an organisation Or country want them to embargo ship- ments to Communist tories.
fand that we may get real disin
flation in the sense that numbers
will luck the th If people desire the ability to spear as much as they have hitherto,
he long before the priest of goods begin
to fall
it should not
SOME INDICATIONS Some of these indieations Thus it is
far apparent to all easie: today to proce an order with a tailor than it was a few
years ago
Tracing the clothing wad tex- territe trades to then roots, I have La report from Mancheste Which ways that people no longer talk shipa temporary recession," and could that "ther Pan be no real Papravenant until present heavy tocks are cleared."
Many of
by
Bestetun ot rubber irvint 1.
Cunty OPA ady be gais 15 a whole pobey wtech pro in ung count les usic
and be actequateḥ protected, | Shn added
these stocks
Jank loans, and is real apprehension of what might happen if the banks csolutely carry out the Govern- ment's desire to restrict cred.
He is leaving fo the United the e
tay after
Kingdom
mouth tour of Majaye.
AWD-
rubber
What would happen in fact South-Bast Asian countries,
would be forced sales, heavy the world's main producers, should be safeguard-business losses, and a sharp fall
in the price of cloth e1 against low prices in
we would like, while manufac- turers will be unable to obtain as much money or law materials as they would like.
It is as simple as that. Workers whole will not suffer, for as a there will be ample room for them in the rearmament lades The chief victims will be those frons which cannot switch from market into either the home rearmament or exports.
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock this morning was Exchange valued at $1,006,020 Nocn and the quotations
mornitig's transactions:- SHARES BUYERS BELLERS SALES BANKS
RK Bank
INSURANCES
1non
Underwriters HK Fire bocks, Erc.
K. Whart
1560
240
782!
陆
140
103 106
Study Of
Empire Resources
London, Jan. 30. Commonwealth
experts
began a detailed study here today of the natural and other resources and poten- tial economic and Busacial wealth of the Sterling Area. They were considering spéci- feally the equipament and other casential goods and mani- factured commodities needed by the industrially under-develop- ed countries of the Common- wealth.
The experts, who are mein- Hers of the Commonwealth Com-
mittee fo examine in vestment. development and long-term borrowing plans, were holding The
+
Arriving Leaving
Feb 14
Mar G
Feb
MARITIMES M
23
Mar *
Від. 26 Mat. 25
passengers & freight.
Gutward For
Kobe. Yokohama Homeward FOT
N. Africa & Europe A Africa £ Europe
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 53, Hongkong
Queen's Building (gr. floor) Tel. 2665) (3 lines).
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S.
OLGA MAERSK"
M.S.
JEPPESEN MAERSK”
second officiul private meeting under the presidency of Mr John Foster, Under-Secretary for Commonwealth Relations.-
Heuur
M.S.
"HULDA MAERSK'
M.S.
TREIN MAERSK"
M.S.
"PETER MAERSK"
TIMBER RESOURCES
M.S.
London, Jan. 30 for A plan
Commonwealth Lumber conservation 19 jo be suggested in Parliament 10- marrow by Mr Peter Smithers (Conservative). 15 @ 1565
The proposal 1516671⁄2takes the form of a question to
141585 the Servetary of State
II 1585
10 1970 Commonwealth Relations acking
what steps he is Laking 1
N. P. Wharf 0.06 7 4000 ? Provident 141 14.65 1000 / 14.40
Wheelock..
it long-term agreement ihe conservation
گاری
"mber risaurcas of The Com- monwealth as a whole and for Qheir most efficient utisation.
Mr Smilthers thinks the most 6400 14.20 suitable Idea would be to have 48 400 & 4425 a timber conference u London 700 14.50 on similar lines to that recently
concluded
the by
Finance
200 44.75
8 3500 @ 3.80 Minister.
2500 50
50 100 250
order
a
This has
4 to raise their living standards. Tot happened yet, and the Gov- pro- maintain economi stability and crament does not want to
voke
Apar a business crisis. prevent Communist inroads, he from its effects at home, it would saul.
LAND, ETC.
HK Hote
5,00
HK Land
58%
S'hai Land Humphreys
1.30
14 142%
UTILITIES
Tran
Peak Tram
(0) ... 238 Star Ferry 1152
The draft leaves a number of important mat- ters still undecided. These will be tackled at another conference to be held in May at Djakarta, the Indonesian capital.
The
The
mangaphe arrived at
Indrama
an Nouvele bring Ber obligelante tej ka cakap daunen.
reparation
inserend
inf thin Japan, whole nege of Uas plu be alowed ..forea CX- will not be shane banden
the exact types and aamupt. of the ser- vices wat be set late
Toy Boře Th
Crotonly can reasonably stup!
No amounts were set, how-
are Mill von even
must grave disturbance to our already seriously Ralibes prices for 1952 depend-export Trade.
reatened by Japanest COMI- ed largely on the United States i thre
pelation policy, he added.
execeded In 1951. production
400,000 lons. consumption by which were absorved by stock piling
SHEFFIELD CONTRAST As matters fland, precautions are havut to be taken, and these
certain amount of veclude a shurt-time working.
other Ir parts of the country I hear of reductions in staff the workers concerned being readily absorbed by rearmament factories.
In the melal trades one has to distinguish sharply between re- armament and expert work, and Consumer the manufacture of goods for the home market. This emerges from a Sheffield report The war damage period wasturbing effects on the economies which says that while the only
of South-East Asian countries," defined from
Sir John said thamilar surplus was likely in 1952 and this too "gust be taken over by stockpiling or there will have to be some modification of the United States rubber poley."
rubber
Also to be we'd lider are the pering of reparations payments and
"If neither happens. a formula for selling dis- putex under the treaty.
fiets by tween the two counther j
be will danninges how
only
prices
would drop
he added.-Reuter. while
damages.
some
calculated.
Japan wants to tuum:
ciarage, malecial Indonesia, in a long list defining what lie considere
for wantz compensation things Japan might not consider material losses. Some of these are losses sustained by issue of Japanese neempation: PETTY,
decrrase in production, delav in repair and reconstruction, shf the adverse effert un social rehabilitation.
A final threshing out was set over for the next conference.
CAN'T SIGN YET
Dec. 8, 1941, to Sept. 2, 1945 concession by Indonesie which had wanted it extended to the end of 1940.
with dis-
LONDON MARKET
London, Jan. 30 Prices of rubber futures closed today as follows:--
Number 1 rubber. in cente
per b Karen
In an exchange of letters C- companying the draft Juichi Tsushima, the chief Japanese delegate, and some things In- donesia had Ust. asked for were,
in Japan's view,
outside the peace treaty obligations, However, he said, Japan would co-operate as
July/September far as possible in granting them since they in- volved beneficial operation between
trics.
economic co- both coun-
discussed in- of certain
of
The matters In any case, Japon rennnt sign
cluded transfer any final agreement on the i-ue
dustries to Indonesia, use until the treaty of peace is rati-
indonesian as well as Japanese Bed,
Furthermore, Japan wants to shipping agents and furnishing
reparations has re-
delay
final iny
she settlements until ceived ali such claims former enemy nations.
de-
goods and plant equipment.
Indonesian chief The legate, Dr Raden Djuando, re- from plied that
he and his Govern- ment deeply appreciated
and
The draft agreement, however, welcomed the understandings
dors settle
some
outstanding and intentions of the Govern- points as the result of the open-ment of Japan as described in Ing conference from Jan. 22 to Jan. 28.
Among these are definitions of Just what services Japan will perform and pay for although
the amounts were not decided
Tsushima's
ciated Press.
letter.---Asso-
These are in four groupings: Grain Prices
CAPITAL GOODS
1. Services in production of
capital goods, machinery
consumer goods.
2.
and
Services in salvaging
sunken vessels..
In Chicago
April April/June
October/December
of stedmakers is the anxiety shortage of scrap, many cullery firms regard shortage of orders rather than shortage of steel as their main problem of the future. Tees-side, of course, has little Anxiety. The steel, shipbuilding a31 and chemical industries are
and my hard at
work,
report adas "there is no sign that we have reached a peak." Blackburn 3-404 engineering works, though dis- satisfied with their steel alloca- tion, all need more workers, IMPORTANT EFFECT
readise
40-%
9-
38-39 37-
United Press.
PHILIPPINE
ECONOMIC
SURVEY
The salient features results are:
Rapid expansion supply:
of money
It is important to
what all this means in terms of em- ployment and human relations.
# Even
the home market shrinks, there is no for: of un- On the contrary, employment. the rearmament Industries will be able to obtain the workers they BO
need.
Some parts of the Common- wealth had ampie forestry re- scurces but others were not su fortunately placed, he said
The conference's task woujo to arrange for supplies to be availabic where แย when 8.65 needed.
17.60 17.80 1500 € 17 7U
C Light 10! B.Bu
Mr Smathers mid Uut under
Ð 2000
4000 # B.BU
1000
8.85
1000
0.00
C. Light IN) Meuric
0.30 2800
8.10
23.03 34 100 623.85 700 23.75
the present system, where earn territory was responsible for 11
Electric Macao
(8) 22% 22% 2000
22.25
own timber policy, there was no hope of making the fullest
e
123%
17% 15100 500
17.25 17.40
Electric Telephone INDUSTRIALS
10% 18% 4900 à 18.55 300 @ 18.45 29% 25% 3000 e 25
20% 20, 3300 201
27 #TE
50 27.25 300 ₫ 27,15
Cement
Rope STORES, ETC.
Dairy Watson
L. Crawford COTTONS
Ewo MISCELLANEOUS
Entertain-
ment. 19%
39
9 3.15
290 35%
Barter Of Oil For
Machinery
of Empire resources.
What was peerted was not local but Empire-wide planning. he asserted. London Express Service.
French Hunt
The
For Oil
new
Paris. Jan. 30. French agents of the Standard Ol Company will soon launch a nation-wide search for oil while other firms will con- centrate in Southern France, The impetus for the drive the threatening ex- haustion of the famed Pechal- Pro- bronn wells in Lorraine, duction there dropped from Teheran, Jan. 30. 75,000 metric tons in 1939 10
56,816 tons in 1951. OD- Iran's Government has
The
French National nounced that it will sign a
Oil отте with year
Com-Company agreement
will of Aquitaine munist Hungary this week to prospect for oil near Pau in the barter Iranian oll for Hungarian Pyrennes while the National manufactured Oil Company of Languedoc wis machinery
look for oil in the Gard depart-
Never some displace. Hunds.
and
The pact will be the Aret to ment and in Camargue, near
oll abroad since the Southern send Iranian
Rhone delta.--- Mohammed Mos- United Press.
Western
US Search For
Machine-Tools
Washington, Jan. 30.
ment of staff is taking place, and some factorles report a consento quent improvement in discipline. Premier
No one likes losing his job,adegh's Government took over Manila, Jan. 30.
even when he knows that he the wells and refineries of the British-owned Anglo-Iranian at once. of the can find another job The Central Bank Philippines last night released That is why Aberdeen says that Oil Company last Spring.
The Iranian and Hungarian the the results of its survey of the Year of being transferred to
must ratify overall economic situation from rearmament areas has undoub Parliaments
tedly generated + little more pact before it is cffective.
The Government's announce- January to June, 1953.
ship- energy in factories and of the yards." I have heard exactly the ment set no value on the goods did it Same from the other end of the to be traded. Neither British Isles,
explain how the oil products
A special mission will fly to The recent Incident at Wolver- can be transporter to Hungary
in face of a boycott of Iranian Japan on Friday to search for hampton, when 11 people were
by dismissed for attending a football all shipments
machine-tool building capacity Extraordinary heavy exports match in working hours, is an- nations who control most of the which may be used in this coun-
and the and receipts
ittry's mobilisation programme. other straw in the wind. No world's tenkers.
Britain also has warned States Government expendi- employer would have dared to
The National Production ‚Au- will try to confiscate any oil tures;
do as much a year ago, and no shipped out of the country be-thority, announcing the three- Aggressivo bank support to shop-stewards would have sup-fore settlement of its dispute week survey, said the Japanese
such action
nation machine tool industry is proba the stockpiling programme of ported
MARKET INDICATOR" alisation law. Associated by the only one in the world and manufacturers; Importera
not operating at full capacity war and
NPA sald the mission determine Japan's ability to Exchange Rates produce the types, sizes ap
quaillies of tools needed Busines was done in the toril American defence contractors.
exchange
market this of bemele marking at She following rate the approximately 80 major Was 355,000,000 pesos on Jan. pertainty but stock market play (per 91) Chester 1918 to me US moeds, NPA WIL Japanoge lool Builders are able 1 1963, and come to 591,000,000 prices often anticipate the general sterling note (bar 211
3.00 Direct dsforke contractors pesos at the end of April. Since course of trade, and they have indonesia guilders (per 100)..
slam. Ciening per 100) technical fields, Including ex-Y part training in factories in New York Beurer 2001. Sack. May, however, it has started to recently moved downwards in no
uncertain way, decling-France-Prose. $13,00,--Unlied Press.
3. Services of technical and
Chicago, Jan. 30, Prices of grain futures closed toddy as follows:
managerial assistance in the wheat price per bushel
deld
of
industry, mining, spot agriculture, whipping. fishing. March selentific research, banking and May commerce, so long as Indonesia's July
September resources are inadequate in this Corn respect and during the period spon In which Indonesian personnel March are being trained in such fields. May July 4. Services in providing
us September much opportunity as possible to yo Indonesium nationale for ac-March
quiring theoretical and practi- May cal education and experience in Onda : JOHN
Таран.
March
2,01 nomual 2.5075 2,551- 2494- 201
1.94 nominat
1,931-1.91,
2.04.
United
A straw of an entirely different kind is found in the possibility. The International reserve in- that the drift of men away from WESTBO creased by a not of $27,400,000, the railways, which
Horious not so long ago, may
have It may be pointed out here that been checked. the total international EVOLVE.
It is ton curly to write with
with Iran over
Singapore (&lentin);
FIC plastres. Ipay 100)
the
21.00
19 to Japanese sources of supply, ERARSociated Press,
ARRIVALS FROM U.S.A.
"NICOLINE MAERSK"
3 Pub Feb. 14 Mar. 2
Fob. 15 Feb. 29
Mar.
17
For Freight and Further Particulars please apply to:-
AGENTS:
JEBSEN
Pedder Building.
CO.
Tel: Nos. 36066-9.
British Bank
Iran
In
Forced To
Close Its Doors
Teheran, Jan. 30. The British-owned Bank of Iran and the Middle East announced today that it will close its doors in Iran by July 30. after 63 years of opera- tion because of Iranian Government restrictions.
At the same
that Premier time, it was learned Mohammed
is preparing Mossadegh's Government orders to force the shut-down of British, American and other foreign cultural organisations operating
outside Teheran.
The date when the axe will, British employees transferred to fall on the British Council and other branches. The bank once Anglo-Iranian Institute branches had 24 branches in Iran but has at Tabriz and Meshed was not been gradually closing them.- known.
Associated Press.
It was believed the shut-down. order will be applied also te United States Information Service branches, and possibly decree forbidding such foreim cultural activities outside the capital
The British bank's four pros vincial branches will be closed on April 20 and the main office in Teheran on July 30, leaving Iran without foreign banking representatives.
did The bank business until
Big Plunge
In
Cotton
Price In NY
New York, Jan. 30. Catton futures today abruptly nose-dived at the close, halting thriving an irregular rise which carried Dr Mossadegh's the market to the highest levels Government banned it from in the week.
1]
foreign exchange transactions.
Hedge selling increased ap Nationalists had watched its
afte: preciably
nearby March doors, jotting down the names delivery crossed well beyond the of Iranian traders entering the 42-sent level. The market opened Teheran office.
steady, then edged up gradually The bank has Iranian to net gains of 12 to 28 points. branches in Isfahan, Shiraz, The parity price report issued Khorramshahr and Ahwaz. after the dose showed a 25-point rise to 34.35 cents a pound for middling -inch cotton on the farm.
Month-end mill buying and local and New Orleans
professionals tant ad- ditional firmness
CAN'T CONTINUE
A letter today from the to Dr Manager, C. F. Warr,
said Mossadegh
the bank's covering by of Directors "teels
Board
impossible for
the bank
to
to the prices
Tho late.
continue to do business under in the mid-session.
existing regulations that govern operations of foreign banks
Iran."
reaction forced the market
as 40 points
ja
down as much from the highs list 9 to 22 points lower the day.
to close the
∙on
The Commodity Credit Cor-
The Government had ordered the bank to transfer 55 per cent of its deposits, amounting to poration reported that producer about 2400,000, to the National loon entries for the week ended Bank of Iran.
January 24
only amounted to Mr Warr announced that the 5,002 bales, compared with bank's remaining 14 branches redemptions of 30,789 bales. outside Iran in Iraq, Lebanon, The net stock of 1051 crap! Syria, Jordan, Saudi Arabinland cotton in Government. hands: the Shelkdoms of Bahrein, on that date was 5,027 bales- Kuwalt, Muscat and Dubai will United Press. - stay open. bank could not cover its main
No Copra Offerings
Mr Warr's lotter said the tenance expences In Tran and New York, Jan. 30.
- Nó --first-hand copra, offerings. baantee ill is unable to operate
on behalf were available. Resellers quoted. in foreign exchange of the Iranian Government, le copra at $140 por short ton, C.I.F. transactions have further been the Pruine Coast Cocannut oil wreatly reduced,
l/wab, traded..ni 93⁄41⁄2 cento ʼn pound, Me Ware, here 27 years, eald with resellers later quoted at big building in 9 vents (4 pound, United the bank's
Teheran will be sold and its 20 Press,
No comments yet.
Private notes are available after approval.