1952-02-06 — Page 9

THE CHINA MAIL, WEDNESDAY, FEBRUARY 6, 1952.

MARITIMES US Investigates High Plan To Royal InterOCEAN

MESSAGERIES M

Arriving Leäving

""ZELIDJA""

"THEOGENITOR" .....Apr,

Veb, 14

Mar.

: Apr. 1

Mar. 6 Mar, 10

MAJ. 7.

Mar

BEAT. JU

*"FELIX ROUSSEL" ...Mar. B

"MONTAIN".

†"ZELIDJA"

passengers & freight.

M Price Of Newsprint: Committee's Charges

Outward Yar

Kobe, Yokohama

Haiphong

Hosteward 'Vor

Mamaltes via Mandia

N. Aftica & Europe N. Afilea & Europe

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

Subject To Change Without Noties

CIE DES MESSAGERIES MARITIMES P.O. Box 68, Hongkong Queen's Building (gr. floor) Tel, 26661 (3 lines).

The Colonies & Food Problems

London, Feb. 5.

The Secretary of State for the Colonies, Mr Oliver Lyttelton, belleves a flow of savings into the development of Britain's own soil and the wealth which lies in the Colonial territories is of utmost importance if food pro- duction is to be increased.

"Wherever you look, that is what is needed," he said, addressing the Basingstoke branch of the National

Farmers' Union.

"We have to bring to our aid every device of ingenuity and

METHOD OF modern practice and we must

PAYMENT

THE SNAG

also give the former assurunces which enoble capital forward to

Washington, Feb. 5.

The House Monopoly Sub-Committee charged today that international price-fixing agreements have inflated the cost of wood pulp, á chief in- gredient of paper products.

At the same time, the Mutual Security Agency told the Special House Sub-Committee on newsprint that Economic Co-operation Adminis- tration funds did not cause increased U.S. exports of sulphur, another important newsprint in- gredient.

The Monopoly Sub-Commitico charged that American users are fed with high prices mainly because a "Scandinavian pulp cartel," representing mills Norway, Finland and Sweden,

In

SERIOUS

has conspired to fix the prices DECLINE

for pulp sold within the United States,

The Congressmen ulso said there is hearsuy evidence that Canadian pulp producers have engaged in price-fixing activities and that individual mills in Swedon even attempted to get United States producers to join In similor a

agreements.

The Sub-Committee sald the, Scandinavian cartel was helped

IN PRICES

Exchange Reserves In Pl Affected

Manila, Feb. 5, in axing prices by its American

Copra and coconut oil prices In Manila have declined to half agents who, with the others, of what they

were a year ago have organised the Association of and to A post-war low, with American Wood Pulp Importers.prospects that Philippines The report said: "This As foreign exchange reserves will be sharply affected in the near future.

a

REO

the

.

Japanese Coal Output Up

in

per

Tokyo, Feb. 5 Coal production Japan Increased 12 Contin

zains 1951 with Paistered in all four .ot the nation's mining dis- triots, Allied fleadquarters announced today. Total production for the усаг was 43.252,088 tans, com- pared with 38,459,222 Conn In 1950.

The Allled report also said tho Japanese ship- building industry turned out 174 steel vessels, not including fishing shine,

Attract Foreign Capital

Feb. 13th

Feb. 18th

Fo. IRA Feb. 20th SAN

АТАЛМАН... TJIBODAS “IJILUWAN "TJADANE”.

"BOBSEVAIN" JIWANGI"

“TJIPANAS

Jul

Bear. Ind

Mar.

A hill relaxing the restric- "TJEPUNDUK" tious on remittances of In-atsADANES

Mar.

teta

Mar.

Eth

Japanese

"TJILUWAG"

"BOISSEYAIN"

Mar. 14th

Tokyo, Feb. 5.

terest and, principal of in- vestments

In

shares will be submitted to

the current Diet, the Fin- | "THKAMPEK“ ance Minister, Hayalo Ikeda, }"rawanɑr", told the Diet yesterday.

Mr.Ikeda said that if the B

YANAKUTAZ" "TJILUWAN"

is approved it will become effec« | "TJшOD&S" tive from April 1.

"STRAAT

"TABLAN" Under the proposed revision, | "KJIWANGE" foreigners who have invested i Japanese socks will be permit- MAKABIAR" ted to remit dividends in accord- "TJILUWAU" ance with epecific yardsticks. provided the dividends are paid in reasonable amounts, Mr Ikeda Bald.

Mar. 25th

Apr. Apr. ti Apr. 10in

Apr. 11th

"Apr.- 25th

May | 206 May, 4th

"Page"

Zawitinr, 8. Africi a 3. Amselen

Diskarta, Semarang, Surabala

Macassar

Kingspora.

Ujakarta,

Kurabala, a Macasiór zada

Japan

Bingapore, Penang & Palawan nati Japan, Say

singapore, à – Djakaināsi Seinatang,

Burabila, MS CASERE { Manila, Bingapore & #jakarta,

's: 'Afrien Tilrabon,.... Semarang, Suunhala & Macassar. Ringapore. Mauritius, B., Africa, ar]

1. America

Blogapore Djukasta,"

sabala Macariar

Manila, Singapore, Mauritius, KM 1.

Africa di B. America Djakarta, son, Tjirebon, demarang,

Aumbala, & Btacaxtar,

Bingapore, Djakarta, „damarang,

Búzakála a atacassar) (RE Kingapore, : Penang & Belawan. Dell Bingapore, Dakarta, Ai, SumaranĮ,

Kümbila & Macassar.

-jakarta, Tjirebon, *** Bumarang, Surabala & Mienagar (AS Stagapers, Penang. & Belawan Doll mipigapore, Djakarta, Jemarang,

Bürebila & MECANIKE Stania, Singapore, šiauritius, E. & S.

Atrica, &· B. Amaries Singapore, Lijakarta, nemBYADE,

Surabala & Sinenser

Japan

May 14th

ARRIVALS

“TJITJALENGKA“ | Fab. | Tub "TASHAN"

Tab. 10t

“TJILUWAR"

"TJISADANE"-

"STRAAT SOENDA” 7th 28th

** Feb, 19th.

Feb. 12th

'Che Finance Minister 4x- plained that the term "reason- able" means three

an equitable sum which reflects the real business | "VAN BEUTSZ" Feb. 7th conditions of the enterprises con- cerned...

during Alo Aral quarters of the 1951 "fiscal. year. Their aggregato ton- noze was 274,003 tona.---- United Presa.

HONGKONG

SHARE

MARKET

(From Our Correspondent)

was

Business done on the Stock Exchange this morning valued at $695,085. Noon quotu tions and the morning's actions:-

trana-

Rescenda, best grade of dried cocdanışs ingat, wad quoted to- day in Manila at 2350 pesos per 100 kilos, and coconut oil at 45 centavos per kilo: A year prices, respectively, were 40 pesos and 87 centavos,

Several reasons have been SHARES BUYERS SELLERS SALES.

| BANKS given for the preral casing of INSURANCES

decline, in- BK Bank carding the generat the post-war world shortage of fats. the use of chemical deler- gents in the laundry and clean-

cf songs DOCKS. ETC. the in industry instead

made from animal any vegeta- ble fats, and the extraction of edible cils from other vegetable sources in larger quantities.

The latest

sociation has discussed prices at its meetings and recommended uniform pricing practices to its principals to look

abroad

and served as proper reward if it vehicle for transmitting collec

decisions of Scan- is invested in agriculture."

tive pricing dinavian It was necessary to increase

producers to their output of many agriculture agents in the United States."

pro- ducts In the Colonica and to The Sub-Committee charged increase

production of the that the Association has also tried to prevent importation of coal,

and copper, minerals,

paper trom Scandinavia phosphates which ile beneath the

that of some

might disturb its alleged price surface of territories.

Axing activities. "Dimeulties are still massive,”-

relate entirely to this matter of Being Keen

capital investment, which has focused on what form of pay-capital ment will be made for scrap to got to be most carefully planned be imported by Japan and how and spent. Indonesia will pay for the order 90,000 tons steel products

Tokyo, Feb. 5.

today said Industrial circles that current negotiations for the purchase of 100,000 lons

thosc

scrap iron from Indonesia are sald Mr Lyttelton "and they facing considerable difficulty.

is

attention

which Japan is to ship in ex- change for

scrap.

put our Sterling house in we have to be extremely tender about the amount of capital monies which we invest anywhere, and what we want to gel out of agriculture is the and Steel Federation, set up maximum output by only making test yesterday Invited - the most essential capital invest- ment, ternational Trade and Industry

A sub-committee of the Iron

Ministry

officials for an elange of views,

Inment.

ex-

be

........... HEARSAY. EVIDENCE

available reports foreign trade. for las! November, show that out of a total Import-export

trade the valued at $75,100,000 for month, there was an unfavour- able balance of $25,950,000. For phed a year so ble Philippines a favourable trade balance of $10,550,000.

.. 1500 1000

...... 780 78

400

Union Underwrkers SHIPPING

Asla. Nav......1.50 1.75

X. Wharf

10235

N. P. Wharf 7.10 -75% Dock

Provident

Wheelock LAND, ETC.

I Д 50-yen shore is trans- acted at 500-yen, or if dividends are being paid at such high rates as 50 to 80 per cent, limits on remitances will be determined on the basis of the par value of the shares in question, Mr Ikeda stated.'

From

Perang,Betawan, Deli &' #tugupora MECAREAT, surable, Remarang,

Dakaria & Singapore 1. America, K. & B. Africa Blogapdre de

Manila

Penang. Belawan Daži &, Kingaporə 8. America, S. Affies, Wingapore

6. Manila

General Agents,

HOLLAND EAST ASIA LINE

SAILINGS TO EUROPE

"OVERUSEL" \ "HOOGKER»-

Mar.

Apr.

May

"KIELDRECHT" SAILINGS FROM EUROPE

"ROOGXENK"

"ARENDSKERRY "KJALDKECHT" "AAGTEKETT" "OVERUJNAL”.

Mr Ikeda suld the Govern- ment was currently negotiating "ARENDOKERK“ with the International Monetary Fund with a view to raising the allocation of Japan's allocation from $250,000,000 to $300,000,- 000. He was extremely dis- satisfied with the proposed of $230,000,000 allocation because St meant that they a third-class regarded Japan as country,

Mr Ikeda declared that the Government would try to repay all its foreign debts to maintain fts high international reputation and pave the way for a flow of foreign capital-France-Presse.

84100,617.83 17.70

1500 17.00

Ik Hotel .... 5.10.

While Its evidence on Canadian price-Axing is entirely hearsay, the Sub-Committee said, "It nevertheless suggests that the Canadians.... have not been guided by the broad principles of the anti-trust laws in their dealings within the United States.

As regards sulphur exports, the Director the. Mutual

of Security,

materials Agency's branch, Mr T. L. Sweet, told the Nowsprint Sub-Committee that increased foreign purchases of

The Philippines had a favour- U.S. sulphur began long before

able balance in November, 1931 E.C.A. funds were being distr with

Japan, Great Britain. abroad to bolster the Belgium, the Netherlands, Italy TILITIES

of

the

friendly free Denmark. But economles

and

with the nations..

United States, which accounted The Sub-Committee, heades!

for 73 per cent of Imports and by Mr Beckworth, held hearings 54 per ceat of exports, last September on the newsprint Philippines had an unfavourable shortage. At the same time, bstance of $23,700,000. Canadian newsprint makers said that they would not be able furnish their full the

of quota unless paper

they were assured of more sulphur,

The United States produces about 90 per cent of the world sulphur supply.

ELECTRIC RESULTS "Whenever investment has to cut down, either in industry Indonesia has demanded that or agriculture, you are, of course, Japan pay in dollars for scrup striking blow

at the pro- while Indonesia will pay inductivity of that industry. Pounds Sterling for the steel

"We

just cannot help that," he products

which it intends to

But the Bold"

return on invest import. This, these circles point

ment in agriculture

now, in neur out, will bring about a further buildings, In grain driers and plling of Pounds Sterling modern milking equipment and

up which Japan already possesses so forth, yields a return which in excess.

would make the mouth Meanwhile the United States ordinary industrialist water.

expressing considerable anxiety over the Import of Japan's steel products by In- donesia because of the possibility

merchants

that Chinese Indonesia may export them to Red China-France-Presse,, -

Record Output Of Rayons

New York, Feb. 5. Domostic rayon and acetate

production

yam

reached

pro-

recard, peak in 1951 but

ducers

stocks swelled

100,500,000 pounds, an increase

of neary 1,000,000

with 1950.

compared

Rayon and acetate production

figures do not

cellulose.. base

Include

manufactured

non-

Mr Lyttelton added that where he had been responsible for the Investment of trust funds in agriculture, he had, in quite a short time, seen electric results achieved, eved,

buted

Ja

to Mr Beckworth, a letter Mr Sweet showed by chorts that "I believe profoundly there is

a large Increase in sulphur ex- no contribution so great or 50 ports to

nations the European valuable to this country, or to

the in 1947, before Occurred

the Sterling Area, than this one E.C.A. programme began. Since of grawing more foed." London then, he sals, there has been a

Express Service.

+

Foreign Exchanges In NY

Conada yarns and fibres such as dynel, England nylon, protein abre, soran, etc., Dalicia! which in

the aggregate

unemeist pro- duced an estimated total

30-day futures of

00-day futures 210,000,000 pounds in 1951, an Australia increase of 34 per cent, com- New Zealand"

3

with 1950.

rayon

steady decrease in sulphur ex- ports.

NOT ECA'S DOING U.S. sulphur expor-s from 1947 through the first six months of 1051 to all countries outside

the

S'hat Land Humphreys

1.80

15

4335 -200 66 43%

3500

2000

1000

# 0002

3200

1000

750

7.89

72

7.6Q

500 g 732

1000 7,5 8500 @ The 300 7.05

2000 5.10

Germany Wants More Cotton

.

Washington, Feb. 5. The Agriculture Department's "Foreign Crops publication, and Markets," said today

that

the German colten industry has placed is overat requirements for the period at about 1,025,000 then bales, considerably more the 925,000 bales imported last season.

Sirlyek Hongkong

Baila flotterdam

Balled Jan. 3rd

Fab. Biti

Bailed Jan. 31st

Mary

Mus.

Apr.

Apr.

May

June

Bib yog

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND -PANAMA,

NEXT SAILINGS

M.S. "OLGA MAERSK”

Feb.

M.S.

"JEPPESEN MAERSK”

Feb.:

M.S.

"HULDA MAERSK"

Mor.

ARRIVALS FROM" U.S.A..

M.S. "TREIN MAERSK"

Feb. 16

10

M.S. "PETER MAERSK”

Feb. 29

more

M.S. "NICOLINE MAERSK”,

Mar. 16

is *TYAM

• 17,85 2000 @ 175, "The sum of $81,000,000

B500 17.63

available for the import of del Star Ferry 11735

3000 1185 C. Light (0) 872 8.60 500 12 0.80 lar cotton. The higher prices 2000 DAS of other foreign cotton relative 1000 8,00

the to the United States and 1000-exican growths are reported 24500# 0.80

Mectric

the

C. Light (N)

.8.20 24

Electric

2345

2214 1400 4 zajk 500 2 23.10

The peso is selling on black market at 2.00 to the dollar and above. It officially is pegged by treaty with the United States at two pesos for! INDUSTRIALS

a tollar.

T

! Telephone

Cement .... 18.40 1816 2000 # 15.70 Rope

2424 The price of rice is up 2.35 STORES, ETC.

Dairy ...... 2012 2014 pesos over a month ago. A 50. kilo sack sells for 23.60 pesos, → Associated Press.

Recovery In

New York

North America totalled 3,497,007 Cotton Price

long tons. E.C.A, funds, he said,

had Ananced 31.8 per cent of the total.

Despite this," Mr Sweel said,

Watson

Word 201

COTTONS

Ewe

500 a 2016 800 201

201

250 @ 2016

14 3.20 500 a

Grain Prices

In Chicago

to

to have ed some spinners feel it imperative that dollar cotton, be purchased

sure to German goods a com- world reiitive position in the textile market.

"Current consumption is ex- pecled to be slightly below the 1,007,000 bales of last season, and as of ast Dec. 30 were only about 70,000

there

bales In stock. This compares with 163,000 bates. In stock on August 1, 1951. United Press

The Rubber

Markets

Singapore, Feb. 5. *Prices of rubber future closed today as follows:- Number 1 rubber, per lb.

2.55%

2.31%

24818-4 2.47%

February

March

Number 3 rubber,

February

nominal

Number 4 rubber,

2.503

$85

18- 1.844-

Chicago, Feb. 5. Prices of grain futures clososi New York, Feb. 5.

today, as follows:→→ Cotton futures came "we do not belleve one can as-

back Wheat Price per bushel

The Spot sume that Increases in the US strong after a weak start, export of sulphur can be attribu-overy in grains and securities March

helped to turn the tide. Prices May Joly ted to the ECA's activity."

ralled as much as 50 points from September Foreign countries would have the lows and closed around the December found dollars to buy sulphur

highs for the day. The action Corn from other sources because, they of nearby March delivery con- Spat needed it for sound economie tinued to make strong impression say

World production of sulphuron some buyers, bearing pyrite fell to a new low 0028-9/14 immediately after World War II. Mr Sweet sald U.S. sulphur was of the highest quality and much cheaper, to foreign sources dropped their traditional sources. of

These pyrites. now are being built up again," especially in Spain, Mr Sweet said.

New York, Feb.

........ US$0 99-15/16

2.7812 231 Baked 2.77%

2.761%

2

-

2.793%

0198 .1455

West Germany

.20

2020

.1405

.0370

Bouth Africa Belgium and acetato Denmaric production last year also sut arunce

with п

pounds. Holland

Italy

new all-time record,

total of 3,000,000,000

estimated for all producere on Norway the globe, which is a gain of 13 Portugal per cent compared with

the Spain

previous "record established the Sweden

Switzerland

year before, The U.S. produc-iddle East tien in 1951 constituted 39 por Egypt cont of the world, total against | Tran 30 per cent in 1930 and 17 per rag cent, in 1939, United Press.

Tobacco Crop In

Turkey

Lath America Argentina Brazil Bolivia Chile Columbla Cuba

South Africa Mexico

Paru

Washington, Feb. 5.. Uruguay The unofficial forecast of Venezuela. South Africa'd 1051-52 tobacco Far East

India

production was 12 to 10 per Pakistan cent less than the official crop | Hongkong estimate for the previous year, Indonesia the Agriculture Department re- Singapore

Japan. ports.

The unofficial forecast is 40

to 43 million pounds, compared

2.8816

12.03.

$375

1500

0100

1,00

1185.

650

2008

2:030

(2030

1750

USIL

340 yen to

United; Press.

purposes.

sources

United States sulphur exports to the E.C.A. countries increased from 109,400 long tons in 1939 to 569,300 tons in 1947. Sinse" then, Mr. Sweet said, there had been only a slight rise · in ex- ports and they totalled 282,500 tons in the first six months of 1051-United Press.

LONDON TIN

MARKET

London, Feb; 8.

The tin market was firm this

morning. Turnover'; was

Spot March,

March

July

· 1.843%-31⁄2

Prices closed as follows:-

September December

1.7935

Rre

42.47

41.00

| March

41.42

40.61

May Usta

1.0634-1.07 1,021

37.67

December

37.40-37.41

March (1053)

May July

May

July

October

37.27 nominal

37.07 nominal

38.71 via

United Press, NEW ORLEANS MARKET

Spot March May July October December March (1053) May July

40.65

57.24 tild

50.58 bid United Pres

'March

Kay

February

Spot rubber, unbated.

Black crepe

No. 1 pajo crepa

.t

120-12016

For Freight and Further Particulars please apply to:--

AGENTS:

JEBSEN

Pedder Building.

& CO.

Tel: Nos. 36066-9. ̧

PATTISON ORIENT LINE

5.S. "LA

231-13135 13134-13115

Duo From:

Kobe Feb:

127-123 131-131%

150-159

United Press

LONDON MARKET

London, Feb. 5. Prices of rubber today fell

24 877-4 four-per 200 lb. Gack 14 d. a pound. The decline New York

reflected the weakness in, the 812.60-United, Pren

Enst where the price dropped six conte a pound, in Singapore on the variation of the Indo-

New York Sugar resan exchange rates, United

Futures

New York, Fell: 5.5 World sugar futures closed today. unchanged to 11 higher. with sales, totaiļinga 224 cons tracis.

Press.

10th, 1952

LIMITED

·PATTISON"

12-14 Queen's Road, Central,

Sails For:

DIRECT Pusan” & Japan Feb. 15th.

CHINESE AGENTS:

Tol. 25845!"

OVERSEAS CHINESE STEAMSHIP CO. 48, Bonham Strand, West, 1st Floor,

Tels. 26127, 31118 & 81119. ¿

Pacific Far East Line, Juc.

Fast Regular Trans-Pacific Service

Contract No. 6 closed 1 to 4.

DIRECT higher with sales totalling 230

SAN FRANCISCO, LOS ANGELES

Fepper Market contracts,

with the eflent estimate of Exchange Rates ometal morning canon among grinders,

th

47,700,000 pounds for the pre- vious crop year! The reduced total production is primarily Dysiness was done in the local due to the change in the type nafclaschetre market this

morning at the following ratest- or car produced, plus un dollar (per: 81}· faldurable growing conditions, sering note per cij inbluding storms, which Indonesin gultiform (per

*3,000,000

destroyed about pounds,United. Press;"

Blanton + {peg 100); Bingapore (8)raitey FIC plaetena (per 100)

-0.708

CONTRACT NO, 4 {world}"

4.43 4.45 hid

New York, Fab, 5, The pepper market, ruled March 110 | firmer" with dealers reparting day. tons, all for forward. positions. | Improved buying

interest Reptember

July Prices closed, at the end of the

A November. Spot block pepper was quoted Spot at $1,40-and-affonts at $1.30 a pound. On boats about to clear from India local resellers starih Indicated at $1,34 to $1.38 aday pound. February shipment was Jabr quoted at $1.34 2 pound, all on alex-dock... basis, United

| Spot_

followk

Spot ta. buyer's Spot tin. sellers : Esiness done at Three nonths tin,

buyer. PAJARNAS "Thres-months ta..

sojiars

·Bizniness done at Settlement

1,002154 1,004

j-1,0023

Novem

· OVERLAND V- NEW YORK-CHICAGO-DETROIT-TORONTO 'MONTÉEAL AND ALL AMERICAN 4. CANADIAN CITIES

Guam, Mariñas Islands, Micronesian Kalands - Regular Sölvion direct or with transhipment.

From

Artip

(4.48 Uid:

Vessai

*WILLIAM LUCKENDACJI“

San Francisco

Nr. 10

CONTRACT NO.

8:36 nominal

"TRADE WIND":

San Francisco

·Blar. 20

0.81 Bid

3.07

6.70 but

„United PreOK.

Balls

Papang & Port.

"For":fn)] = particulara call' United States Lines Co. General Agonis; Queen's Building, Tölz 22194,