1952-02-19 — Page 9

THE CHINA MAIL, TUESDAY, FEBRUARY 19, 1952.

MESSAGERIES MARITIMES JAPAN

MOM

"ZELIDJA"

Arriving Leaving

Feb. 22 Feb. 26

Apr.

Apt.

2

**THEOGENITOR"

*FELIX ROUSSEL" .. Mar,

1"MORTAIN"

*"ZELIDJA"

"

blar. 7

Mar, 17 Apr.

Mar. 18

Apr. 0

1

passengers & freight.

Outward For

Koba, Yokchains Uctphong

Domaward for

Marzellen via Manila N. Africa Europe

N. Africa & Europe

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

Subject To Change Without Nottre

CIE DES MESSAGERIES MARITIMES

P.O. Box 58, Hongkong

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

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO;

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

NEXT SAILINGS

M.S. "HULDA MAERSK"

M.S. "TREIN MAERSK” M.S. "PETER MAERSK”

ARRIVALS FROM U.S.A.

M.S.

"TREIN MAERSK"

M.S. "PETER MAERSK"

M.S. "NICOLINE MAERSK”

Mar.

CH

Mar. 16 Apr.

In Port

Feb. 29

Mar. 15

For Freight and Further Particulars please apply to:--

AGENTS:

JEBSEN & CO.

Pedder Building,

Tel: Nos. 36066-9.

Defence Orders' Growing Effect

On US Industry

New York, Feb. 18.

A shortage of customers is a greater problem in some civilian industries than the lack of raw materials to make the goods.

Unemployment

Up In UK

London, Feb. 18. Unemployment in Beijsin rose by 78,800 between Dec. 10 last year and fan, 14, when the number of people registered as up- 378,700. employed

Roonring to igures inmed or tonight by the Ministry o Labour.

This Sgure represented 1.8

cent рет

of tho estimated total number of employees, compared with 1.4 per cent in December, 1951.

Of the total figure of 378,300 unemployed Britain, 117,000 had been out of work for more in richt weeks.—Reuter,

HONGKONG SHARE MARKET

(From Our Correspondent)

AS MARKET FOR

BRITISH GOODS

London, Feb, 18.

British exporters who have regarded. Japan solely as a menace to their markets abroad, should now consider the idea of Japan as a potentially valuable market for British goods. This is stated by Dantel Duxbury, writing in the Financial Times.

1

At present Japan. imports three-quarters of her motor cars from the United States, he says,

Yet anyone who has tried to drive or park a car in the narrow congested streets of Japanese cities, where pedestrians would consider a British road the acme of safety, knows that the American car is unsuited to Japan.

POTENTIAL

MARKET FOR SOUTH AFRICA

The British car, with lower

petrol consumption and more carlly manoeuvred and parked, is Ideal not only for truffe conditions but for the Jagapezp themselves with their'smallness of stature.

Trading Almost Dries Up

U.S. EXPORTS TO SOVIET RUSSIA

Page.

Japan

Singapore, Bjakarta,...

Africa

Singapen, Tenang & Belawán" Dalí

HOMAJADE,

*THISADANUA “VAN KUFAN

HTHAAT SORNDAM FOR BANJA..

*DOISSEVAIN

Mar.

"TUWANG**

Mar.

2nd

-Y

Kematang,

"Burabila &" bincassar

"TJIPANA" "TABKAN"

TJPONDOK”.

*TJISADANE” "TJILUWAR" *DOISBEYAĮN*

"ETBAAT

Mar

Sunita, Nor

Mar

Mar

Diuinisaj› Titleban,

MAKASBATE" TJIKAMPEK"

TJIWANGIN

"WAN HEUTZ“

Mar. teik

Mar. 24th Mar. 27th

Burahata & Magnúsar Singapore, Maŭṛlitus. 1. & H. Africa*

B. America

Singapore, Djakaria, Semarang,

"Butabais (& "Muenslage Manija, Hipgapore, Stayrstiqs, 2. 4 8.

PAULA E′′B. Amerirà

Japan

Djakarta, Tirokom,

Burakala 2 Macunar

Apr. 2nd

Hingapore,

Apr. 718

"STRAAT SOENDA" Apr. 14th

TJILUWAIT

"THIBODA"

TJIWANGI"

New York, Feb. 18. Russia received only about | “TASMÁN!!. $52.000 worth of American goods in the Brat eleven months of last year, export sources reported.

In 1938, when relations bo- Similarly, Mr Duxbury con-tween the two countries were not so strained, the Soviet tinues, Javan imports 70 per cent Unical

imported $70,000,000 of fis, from the United States.

worth of U.S. products. Again, anyone who understands the Japanese mind and attitude

In October, exports but an consisted

"STRAAT

Apt. 18th

Apr. 17th

Apr. 15th May 2nd

May

Eng

MAKASSAN”

"TJIPONDAR

May

7th

May

“TJILUWAN"

Semarang,

Djakarta, Séparabe. Hurmania & Krossar Singapore, Penako & Belawan "Deli Manila, Singapore, B. MITIES Singapore, Djakatia, Semarang,

Burabala de "Macanar

Djakarta,

Tikabon. Semaraus, Burubala · Sincassar

Singapore. Renang & Belawan 'Dell, Wingapore, Djakarta, Hemarang,

dorabala & Macassar

Manila, Blugapore, Mauritius, K, & 8.

Africa & 6. America

*njakuteng Tjirekon, Remarang,

Surabala & Macasize

Singapore. Djakarta,

"Burabgia, & Mecaniar

From

醫ㄔㄔㄔ篊露‡ ゚

Singapore

America, 8. Afiles, Barabala & Manila Penang. Belawan Deli & Singapora

· Burabats, Macha?

Bamara

·Djakarta Az Singapore

ARRIVALS

"STRAAT (QENDA” feh 27th

B.

"VAN BEUTAZ" · "TJIWANGI"

Feb. 27th

- Fab, rith

**TJILUWAB"

Mar. 13th

Macassar, Burakain,

MATARK,

Djakkeja de Singapore

Mar. 22nd

America, E.

Africa:

MAKASSAR”

Mauritius, Singapore & blanila.

General Agents,

to life is convinced that Britishll-time low. They Alms are nearer to Japanese of 100 dollars worth of closing.

"STRAAT American imperts Dem Russia taste than many American pro- in the first eleven months of ductions.

$24,851,000,

op

'They

ed furs, unstem-

1951 London, Feb. 18. A third example is that Japan Mr H. O. V. Jensen, South recently

spient a considerable Africa's Senior Trade Commissum

med cigarette loaf, cotton lin- tean racehorses sioner in East Asia, said in California, ignoring the high re-ters, palladium and asbestos.

The United States formerly that Japanese putation of British bloodstock.

imported large quantiles ot Hongkong Hotel shures were Johannesburg

It will, morcover, be surpris- mangmiteso from

Furth, but in increasing this morning. torta

numberi Stock Exchange

drive to export capital goods, no The market maintained its re- within the next year or two,

the total cent activity, and

If South African exporters attention is paid to the Japanese volume of business during the avall themselves of the oppor- market.

But in considering the morning session was valued at Munky, they would be carrying

mounting. tonnages of prospects, Mr Duxbury $1,418,377.50. Noon quotations away

warris, British exporters will have to und the morning's transactions;- Union goods.

"Trade potentialities in the bear in mind that it is senselors SHARES BUYERS SELLERS BALES

Our though it has been done to Far East ore enormous.

Chine,enquire about the marketing DANKS

with Maloya, 1585 400 @ 1873 trade

Japan and the whole of South possibilities of consumers' goods expand such os pots and pans and cheap

tin trays.

again much in demand on the ships would be coming to ong if in the forthcoming British his steel-making material has :

K Bank

INSURANCES

Union SHIPPING

Asia Nav.

790

141.825 1000

1000 my 1.831

500 1.62

2000

3.00

K.

N. PL. Whart

Wharf

105

400

106

18.00

141 14.00

$315445

DOCKS, STC.

Dock... Prouident

Wheelock

LAND, ETC. HK Hotel

BI Land

shai Land.. Humphrey.

UTILITIES

Tram

Star

Asia

should

East rapidly.

"Shipping is a handicap and have An here the Japanese advantage for they are increasing to Africa their shipping lines and elsewhere," Mr. Jensen said. "Japan wants our wattle bark, Asbestos and iron ore. She can supply textiles, machinery and steel

"South African fresh fruit, B.RO 6.95 1000 12

and canned fruit, vegetables 5004053 other foods are popular in China, 2004 8.65

Malaya and neighbouring coun- 102003

At least NIX times the 19150 0.90 trics,

200 800 current exports could find a 6135 63 1025 0185 Curces

255614 rendy market. 700

14.10 1435

OUT OF BALANGS

Traders and .the

British Government, too, may have to consider also the extent to which any such exports are laying the foundation of future competition in other goods,

Hope that Japan may turn in- creasingly to the Sterling Arca for her import requirements is seen in the fact that Japanese overcas trade is dangerously out of balance.

all but disappeared from import Lats."

Steel

of these imports are being carried by chartered Greck and Scandinavian ships, import circles said,

Moscow will play host to businessmen from a number of Western countries in April, in an effort to revive trade.

More than a score of Améri can businesSJ leaders have res ceived invitatiata ta tha one- week conference, but only threo have accepted so far. --Aso- ciated Press.

Wall Street Prices

In the first 11 months of 1051 Drift Lower

Japan obtained 58 per cent of her ex-imports from the United States

-New-York, Feb: 18. B236 "Canned Kranes are

The stock market presented a 1.10

ceedingly popular but the Union and 25 per cent from the Sterling

'Arca,

ruggedly lower price front to- shortage of in-plate is a prob- At the same

time, howover, day with trading quiet. lem. Export to the Orient of only 24 per cent of her exports

Losses went a bit past the tinned pilchards could be

the United States two-point mark while gains ran

Sterling Area.

downside crowded.

1.00 1000

1124

1020 € 10

120

went to Light (0) 974 800 1000 8.83 trebled."-London Express Ser-agamist. 42 per cent to theto nearly two points with the

C. Light (N)

Electri

....23.9024.30 2850 6 24

vice.

£50 of 24

23 250 22.60

Elec. (Bonus! 1714 075 17.10

Teleplione ..

INDUSTRIALS

Cenent Repb

1315

.... 241

054 20.00 1150 @ 2014

1

STORES, ETC.

Dairy Walton XD

COTTONS

Ewo

0.20 3.30 2000 3.20

Entertainment 21 2115 300 @ 21 Yangtze 6.15 8 6533 su

GOOD @ 525

It took lively sales promotions and markdown MISCELLANEOUS prices to move many consumer items.

Military orders became in- But the American creasingly important

40

Woollen

the President said it was Govern- health of the economy. They ment contraels that accounted accounted for a growing pro- for most of the sales and near- portion of the nation's produc-ly all of the proat.

tion.

ap-

This was particularly parent in the textile industry,

business where civiliun

Hai been at depression levels and many mills have been-existing on a diet of Government de. fenea crelers,

The carnings report

American Woollen

■

Government

PRICE REDUCTIONS "Without these contracts," he sald, "1951 would have been a most unsatisfac- carnings lory year from the standpoint.

Price reductions have been announced on varying lines.

Celanese Corporation ani

of the Tennessee Eastman Corporation

Grain Prices

In Chicago

May Company, cut the price of acetate staple

a pound-from of six cents

cents to 42 cents.

the world's largest maker

fabrics, nointed up this trend sharply.

woollen and worsted

20

Foreign Exchanges

In NY

New York, Tob, 18.

US$8.89-10/10

2.78,3/19 2.20 bid- 2.32 died

Canada England-offietal

unomelal

30-day futures 00-day futures

Belgium

2630

.0370

of

THE CHALLENGE

Volume of trading contracted 10 about. 1,100,000 shares.

year,

rally.

made n

Buying and selling were on a highly selective basis, und thery were few sustained grouf movements in any direction.

Dow Jones averages:

The

result was that Japan's around the lowest level of the Sterling holdings inorensed from

Oils and chemicals were in £43.0 million at the beginning the forefront of the fall while

July to £68.6

million ba vain attempt was. December 20. Her credit balance one time by rails to start u st that datê was £84,4 million,

At the same time. Japan had a 500 million dollar delicit with the United States, and this was covered by receipts for supplies and services fo: Korea and for the U.S. forces in Japan, neither of ¦ Industrials which can be regarded as per Rolls manent features of her trade. Utililles

The challenge

before Sterling Aren governments and exporters is to break down the Japanese

with preoccupation dollar imports.

now

As Mr Duxbury points out, The Japanese have become sa used

to using dollar funds that they tend to look naturally to the United Statcs for the majority of imported materials." |--London Express Service.

The Rubber

". Australia

2.77-13/16 2.76114

2.21%

New Zealand

South Africa

2.784

01931

Denmark

.1493

France

0023-9/16

Wen Germany

Thoy did not explain reductions {figures showed

48

the

Chicago, Feb. 18. Prices of grain futures closed today as follows:- Wheat-peter per bushe Spot March

July September December

Holand

aly

Norway

Portugal Spaln

Sweden

2.5374-15

Switzerland

MIDDLE EAST

2.4734

Сога 'Spo:

1.80

Egypt Iran Iraq Turkey

0311

2.61

6373

LATIN AMERICA

.0720.

0500

0114

Prices

May

1.9194

of

March May

634-83

2014-16

New York Plour-per 200 b, Sack. $12.00.Uned Press.

Columbia Cuba Mexico Peru Uruguay Venezuela

1.00

1135

Number 1 rubber, in gengis

per ib,

0500

Murth

4223

April

.2005

Agrli/June

July/Beptember

FAR EAST

October/December

India

Hongkong Indonesia Singapore

Japan

1154

1770 550 yen in UB41 -Unlied Pre

American Woollen's 1951 not stocks of rayon and acetate March

climbed to 100,500,000 May earnings were equal to $9.20 a yarn common share, compared with pounds at the end of 1051 from

$4.30 a share the previous year, And the company's sales were against $253,338,098 last year $150,124,000 in 1050.

Filipino

Official's

Mission

Manila, Feb. 18, The general manager of National Power Filomon C.

Rodriguez,

July September December.

Rya

at the only 0,100,000 pounds end of the previous year).

the Concerning

stretching March out of the defence programme, many took the ylow that i would prolong the period high activity and would tend to alleviate the economie ad-

justment that must follow.

AT HIGH LEVEL

As a whole, Industrial acti-

1.01%-7%

1,0494-% 1.301-2.03 1114

Argentina Brazil Bolivia Chilo

vity remains at a high level. EASIER TREND Pakistan

followed this

The plature frend:

Stepi:-production dropped a

·

hit from the previous

week.

The industry operated at 100.1 per

cent of rated capacity

IN LONDON

London, Feb. 18. The Landon Stock Exchange with was mainly caşler today

but well above buyers holding off in view o New York Sugar

the

Budget uncertainties.

оп

Industrials Leading countered light selling pressure while shippings cased on profit- taking on recent rizas. Rubbers were weaker in sympathy with but further decline in price,. the gold shares were very firm with good support for selected South Africans.

silghtly below the 100.0 of the the week before Corporation, the 08.5 of a year ago. Pro- .the now duction in January, was en route from Rangoon to the highest ever achieved in any

Stotes 10 United

according to purchase month, tunnelling equipment for the American Iron and Steel Ambuitino project, will discuss stitute,120,000 not tons,

Car production: the best the details at a 20,000,000-peso loan, from the Export-Import the year-113,043 units, com- Bank to the corporation.. parod with 107,044 the previous week and 178,141 a year ago, The Philippine official will Crude oil production-out- also discuss

7,685,550 barrels, 'priority for maputof chinery and equipment needed above both the previous week's index was

And Cor-4,131,150

a year by the National Power poration with the State De-6,703,000.

The Petroleum. "Administra- partment, National Production Administration and DCA chier tion for Defence planned, a

The Financial

aga'a Press,

Futures

Now York, Fob. 18, World sugar futures closed today 1 to 3 lower. with unles | totalling 160 contracts.

1

Markets

Iqadan, Felz, 18,

205.33.

8.3.20 49.09.

Associated Press.

Cotton Price

Rallies In New York

New York, Feb. 18, Cotton futures staged a rally after a shaky, stort. Prices closed today as follows:

40.60 nominal

Spot

March

Atay

of rubber futures Marels (1053)

closed today as follows:--

2014-05

100%

30.24.30.27

38.70 -30,75 26.45 -30,60 .36.20-30.30

56.10

35.40 ict

ted Prox

NEW ORLEANS MARKET

30.43

30.18-3020

July

October 1)hoombor

May July

Spot

March

Alay July

October

December

36.20

futures

March (19 May July

63,62 bil United Pies

112-1134 11

*100+100%

107-30754

United Press. SINGAPORE MARKET

Singapore, Feb, 18. Prices

rabber closed today as follows: Number ruhbar, par-lb.

February

March

April

Number

February

Number

February

Number

•

February..

Spot' rubber, unbaled Black crepe

No. 1 pale crepe

100-105 1825-115

133-140 -United Press,

LONDON TIN MARKET

HOLLAND EAST ASIA LINE

WA INDOKERK

“NGOGKERIN

SAILINGS TO EUROPE

Mat.

I

Apr.

“KIELDEÈCHT"

May

"AAGTEKEES"

June

"OVERLIBEL"

July

BAILINGS FROM EUROFE

Rotterdam

Arrives Moarkoag

Balled Jan. Sist

Mir.

Blar.

Apr. 10th

Apr.

MAY 20th

MAY

June

Tth

Bay

July

HABEN

KIKLI "AAGT

HOVERIJHEIM

"HOODKLEK”

PENINSULAR

STEAM

ELD

& ORIENTAL

NAVIGATION COMPANY....

R.M.S. "CHUSAN"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

SPECIAL NOTE:

EMBARKATION:

SATURDAY the 23rd February at 12.00 Noon for the UNITED KING- DOM via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers haggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE BY NOON on FRIDAY, the 22nd February, 1952.

With the exception of hand packages. 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 SATURDAY, the 23rd February between 9.80 am, and 11.00 a.m

American Bond Issue

A Success

New York, Feb. 18.

LONDON FINANCIAL TALKS END

31,

London, Feb. 18:

peris studying Investment, Initial offerings of the US development and long-term bor- 30.76 77 Treasury now bond issue-its rowing projects within the British 38.04-38.00 flist maitotable long-term irsue Commonwealth have ended their

to the market in many private falles here.

The committee, which won set months-produced a flurry of up at the recent Commonwealth activity among Clovernment bond | Finance Ministers. conference. investors today.

will submit a secret report to the Wovernments concerned. Dealers reported considerabla

A second committee, which is switching among holders of the handling: the Sto:ling converti- Treasury 24s for which the now|bility programme to meet the 294 per cent itens can be traded present economic crisis, reported. The 24s, which were issued into the Finance Ministers a week

colled for been

ago. rafamation on March 18 In the The Treasury is expected to amount of $1,023,588,350 and the issue a statement tomorrow an new 21 were lasurd to replace the work of the two coramitties. A conference of the Common- them.

wealth's senior finance officials! Demand for the called 21s was and economie experts will lio strang

·Convened in London late in May to examine the current position. Sources close to the Treasury The representatives from sald the apparent demand for the Canada, Australia, New Zealand. new 24 Indicated there is a South Africa, India, Pakistan. good market for long-term Ceylon, Southern Rhodesia, Government obligations. North: Ireland and the British

colonies will rotum home this wock-Reuter,

London, Fob, 10. Prices of tin were easier this morning. Prices closed at the end of the afficin! morning gassion as follows:-

Seeds And Oils Spain, buvors

Market

Contract No. 6 closed 2 lower to higher with sales totalling Times daily, 108 contracts per 113.2Assoclated

Prices closed as follows:......

New York, Feb. 10. Contract No. 4 cw4134)*** Prices in tha 'zeeds; ~ and olla

4.37 nominal | market closed 'today::/un

changed with the following 447 old

exceptiona, pomiral Peatus oli, pe 15. 2.0.B.

New York

in the Philippines,, Roland R. special stort for its Now York Exchange Rates

Renne J

Office to direct handling addi-:- tional heating oil suppiles for Mr. Rodriguez' arrived" In the East coast. It was an at Germany last week, and In- [fempt to avent wilst the agency spected a firm which is con- anys in a threatened healing oli structing a pyrite-hurning plant shortago along the topit Torih for the Mark Cristina for fliser of Norfolk, Virginia, Ali -project.-—Franos-Pronan,

ciated Press.

Business was done in the local unofficial excitange MATKOL morning at the following rate wariciar, (per:$1) Sterling pêtes (per: 61) Indonesia ruilders. (per 100) sam leaks (per 100) Singapore (ELL/W100)))

plasizes (peg (100)

Marca

May July Baptenber vember

Contract No.

"Casior" study, perllong nominat F.D.3. Breziden

$0.3

New York

Madhume pe

ebiøping point

15 cents

Spet tih, sellers |Businers dond gr

Tpred-imonilis. Un, buyers. Three months tin, tellery Business done al Bolilement

97%*

After that the of

DIN

[==United - J^zen.

U.S. TREASURY:

1011, have

High-grade

2

coporates held fairly steady, but the list osa Washington, Teh, 18.

whole was thoroughly mixed, The position of the Treatury with plus and'zninus marks about en Fol. 14. Compared with the only divided-Rall-were barresponding date a year: egɔ;.

Irregular. Total deut 1260,241,136, 2005 ARA

$33,000,000.603.01.-**) $32,200,108,405,63

-Åácontated Presi

Copra

Quotation.

A B Em Now, Yoriz, Feb. 18,

Copra wns'; 'qualed';, today at $159 09: short ton, Cocoanus til was quoted at 9+3⁄4"dents 'a pound gaked-United Press,'

Joannero bonds were mostly flom in a quiet foreign dollar section-Associated Prom