1952-02-28 — Page 9

MESSAGERIES M

"LA MARSEILLAISE" "MAPIE KOLL"

.*"*FELIX, ROUSSEL"

"MORTAIN"

{"ZELIDJA"

·

THE CHINA MAIL, THURSDAY, FEBRUARY 28, 1952.

Page

MARITIMES DOLLAR EXPORTS LOWER ROYAL INterocean Lines

Arriving Leaving

Mar. 24 Mar. 30

Apr. 5

Mar,

Star. 7

„Mier. 13

Apr. 4

Mar 18

Apr. 3

passengers & freight.

M

Outward For

Kobe, Yokohama

Homeward For

Marielles via Mania

N. Africa & Europe

N. Attles & Jurape

† freight for Saigon, Port Sald, Tunis, Marseilles, 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 (8 lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHILA. Vis BAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "HULDA MAERSK❞

IN SPITE OF U.S.

Japanese Role In

PROSPERITY

London.

Despite the fact that the value of exports last month at £250 million is stated to be a record, and

SE Asia that the adverse balance was reduced, Mr R. A.

INVESTMENT OF LARGE SUMS

(Our Own Correspondent)

London, Feb. 27. The British Government has no objection in prin- ciple, either on political or economic grounds, to the Japanese proposal to invest large sums of money in the development of Southeast Asian countries, including Malaya.

|

Butler, the Chancellor of the Exchequer, cannot derive much satisfaction from these Board of Trade figures in view of the decreases in the value of exports to our priority market-the dollar

area.

Last month we exported to the United States goods provisionally valued at £10.9 million, and to Canada goods valued at £8.5 million. The U.S. population totala 160 million, and that of Canada 14 million, so that export figures mean that, per capita, the USA imported 1s. 5d. from us and Canada 12s. 2d,

our

Record Imports From Japan

Singapore, Feb. 27, Malaya's mounting traile with Japar reactied-a re- cord total of nearly ST930 raillion

Imports lant according to official vis nublished today.

This puis Japan third an the lt of countries from which Malaya bought moel goods, fim being Britain (8T$89,250,000) and second Indonesia (STS86,457,000). ----Reuter.

Fresh Tin Discussions

In Offing

Washington, Feb. 27.

TJIWANGT

INTEROCEAN

SAILINGS.

Feb. 2443 "VAN ZUTSE"

ROSSEVAIN" * Yet, 19h... STRAAT SUENDA" Feb. 22th

Afxe. 200

Mar Mar. th Mar.

“TJPANAS” "TASMAN *TIPONGOK"

"TJISADANE"

"TJIĻUWA{"

"STRAAT

MAKASSAR" "BOJSSEVAIN"

"TJ{KAMPER"

"TJIWANGI"

"VAN HEUTS2"

Mar. 19th

Mar. 16th

Mar. 24th Mar. 201

Mar. 27th

Apr.

2nd

Apr. 70%

Apr. 16th

"STRAAT ROENDA" Apr. 14th

"TULUWAIT

THROBAS

"TASMAN" "THWANTIT"

"STRAAT

MAKASSAR" TJPONDOK"

“TJILUWAN"

-TEGELDENO"

*VAN HEUTSZ" **TIWANGI"

“VAN HEUTSŻ"" "TIWANG

Apr. 17th

.Apr. 24th Stay 2nd

May 204

May 7th

May 18th

May 2015

May 25th June, Ind

1

Risan

Jakaria,

Japan Bingapore,

Manila, Hinganure

dutabela & Siavashar

SIKAMANG,

Africa

Singapore, Penang & Melawan DeLİ DJAMILA,

jusken, METATRA

Surabala Macassar

Hingapore, Mauritius, Tanga, Zi”

zibar, Dar-e-hataam, N. Afte

H. America

Singapore. Jakarta,

Surabata Matassar

Japan

Manila, Singapore. Mauritius,

H. Africa & S. Antorica

Djakaria, Tirabon, Semarang

Burabala 4 Macassar

Singapore, Jakarta, Bemarang,

Nurabala Macassar

Singapore, Penang di Belawan Dall Mantin, Ningaboré, & K. Africa Kingapore, Djakarta, BAMACARE,

Burabaja & Macarier

Djakarta, Tjirebon, Bemarang,

Surabala & Macatzar Singapore, Penang & Belawan Doll Singapore, DJAKSITA. BRACE

Burabala & Macau

Manila, blagapore, Mauritius, E. & 6,

Africa & S. America 1Jakarta, Tilreton, Semarang,

Murabala di Macassar Singapore,

jakarta, Samarine, Surabaia &” Macassar

Manti

Singapore, Maridus, E&H, Africa & S. America Singapore, Penang & Belawan Dell Singapore, A Manto

Djakarta.

Semarang. Burabala & Maesmar

From

ARRIVALS

Feb. Zah

Feb. 28th

Mat. 13th

Mar. 18th

Mar Sih

It provides a sad commentary with wool from Argentina which on the proposals of the Colombo reportedly, resulted in Argenting A representative of Bel- Plan, which aims at raising the banning all shipments of woo gian tin producers is pre- standards of living and the intended for third countries ane pared to negotiate tin sales purchasing power of the millions Intimating that, henceforth, ex-with the United States but living in South-East Asia, port licences will not be granted -

regards the price which the TLUWAH" An

Asian for triangular trade.・・ The Japanese plan provides! increase In S, E for five-year investment pro- purchasing power of only is per

This is a re-affirmation of the United States is paying for

MAKASSAR" and im- Malayan tin as completely gramm costing £32,6 million, week-per capita would give:

Under the plan funds would the export world a huge increase practice of exporting

porting only for equivalent in-unfair. be made available for private of revenue.

porting and exporting, a systern M. Henri Depage, represen- Japanese investiment on a 50-50

A similar increase by the 1740s pornicious as bulk-buying and tative of Belgian in producing basis with Jocul intereals In

butk-selling. It is millions living in North America

is a system of enterprises, has begun consulta- schemes to encourage the pre-marisfactory, and would bilateral agreements between tians with Dolgian diplomatic duction of scarce raw materials needed by Japans industry.

seem more easily attainable froin contracting countries which ex-officials, preparing for inter dis- the trade covered russions with the Reconstruction cludes, from

all other Finance Corporation, the sele

In Malaya, the Japanese hope richest per capita, countries in by such agreement

the U.S.A. and Canadu. the dovetop iron ore production world, than from the poorest countries unless they resort to purchaser of tin for the United

case their present acutu

the

steel-making who inhabit of

Burma, Indonesia,

The scheme has "the blessingpines, &c.

Mar.

M.S. TREIN MAERSK"

2. Mar. 16

M.S. PETER MAERSK”

Apr. 2

to shortage materials,

ARRIVALS FROM U.S.A.

of the British Treasury which

M.S. PETER MAERSK"

In Port

M.S. "NICOLINE MAERSK"

Mar. 17

M.S. "SALLY MAERSK”

Mar. 25

IMPORT CUTS

States.

"STRAAT

“TASMAN"

Surabata & Manila

Prong. Belawan Dell & Singapore

Macassar, Surabala,

Dijakarta & Singapore

biscansar, Kurabaik

Djakarta. Stugapore

Hemarang.

Semarang,

郭。 America, E. &. Alrica,

Mauritius, Singapore & hianlia,

Japan

General Agents,

HOLLAND EAST ASIA LINE

SAILINGS TO EUROPE

"UDOCKERU”

Mar

th

Apr:

"KILLDRICHST"

MAY

"AAGTEKERK" “BLITAR”.

Juno

70

July

SAILING FROM EUROPE

Baile Hotterdam

Arrives

#ARENDSHEEK"

Saited Janist

Mer.

Apr.

5th

May 2nd

Hongkong

Mar. 5th Apr. 10th

May 10th

June 7131

-Ray ---- 2812

July

States Indla Malaya, similar agreements.

It would be laudable to feel

Although Belgium is tradi-ARENDYKELR the Philip-

that we could, with assurance and tionally a supplier of European safetyce

dictate to the foreigner (in needs, the United States has the price at which we will buy purchased some tia from the takes the view that Japanese There may, of course; be his

Only goods.

Inst week we Bolgian Congo under a now sus- copilut should rank equally with psychological factors in

That contract the told the Scandinavian producerspended confracl,

we were

the interna- that of other countries in the situation: ruthless curtailment of wood pulp the prices we

eas! Agla.

British approval is subject to certain safeguards.

COLOMBO PLAN

simliar

to pay them for their vided that If

perlod

economle development of South-of Imports from an area do court production. Wils can hold out during a six months

tional price of in was raised For Freight and Further Particulars please apply to At the same time, however, ar reprisals from that same longest, the Scandinavians or above $1.03 per pound in New

AGENTS:

JEBSEN & CO.

Pedder Building,

Tel: Nos. 36006-9.

Singapore Move To Prevent Rice Price Increases

tion.

"As a matter of fact, this

Miron

Carter

associations In the the British? Wil need for

United States, could States expressed fears of wondpulp force us to buy at the suspend the agreement. It did so such a contingency when Mr producers' prices? The boot was when the Korean war started. Meanwhile discussions are Butler's predecessor in onice,

on the other foot recently in M. Depage said in an inter- going on between the Com-Hugh Cinitekell, announced his respect of cont. The Danes and view that the price under which. monwealth governments couts in the late autumn of last the Swedes could not hang out the United States recently cerning Japanese participation

Mr Butler's recent cuts indefinitely against our scarcity agreed to purchase 20,000

tens the Colombe Plan, No de- year.

Britain cision has yet been reached but have but aggravated the position of export of this commodity and of Malayan in from

its high cost delivered in their si.18 it is thought probable that the Mr Gaitskell created.

pound in Singapore or Interest taken by Japan in the The people in North Amerien

ports

They had to pay, in the about

Yorkm $1.2114 in New development problems

of are enjoying a period of highest long run, as truch almost for one was a completely unfair price.

A fair price corresponding to Southeast Asia will strengthen wages in their history; living ex- ton of coal as they earned by the the care for Japanese participa-penses are admitted to be high, anic of one ton of bacon..

the increases in prices of other the incidence of taxation for Over a year ago we cased up metals, he saki, would be be-. The matter is expected to be general rearmament outlay is on our purchases of sulphur from tween $1.50 und $2 a pours.

the consultative now upon them. raised during

of the U.S.A. We had declined Restriction of

fle could not stale the mini- committe meeting of the credit for hire-purchase transac-pay prevailing prices in the hope mum price he is prepared to ac-

Plan countries in tons has resulted in a wave of Colombo

of reduction. Within

A redi

mattercept until after the

negotiations Karachi next month,

savings which is put at about 10 of weeks we were scrambling to either succeeded or failed. The question of the re-entry of per cent of the weekly

But he indicated that he pay-get sulphur anywhere at what-

ever cost, only to find ourselves following closely the Japaners notionals into British| packets of the workers. colonial territories in Southeast)

there Nevertheless

ร aup against serious shortage. negotiations here between Asia is now under consideration resistance somewhere Lo pur- Again there

is the case of donesia and the R.F.C. These by the Colonial Office.

chases from the United Kingdom Argentina, and the price of meat negotiations are currently dead-

over It is understood that present which, by refusing convertibility, to us. Refusal to negotiate, by locked

price. — United conscious of regulations forbidding Japanese has developed a form of inter-bulk-buying, at President Peron's Press. The Singapore Government

LONDON MARKET nationals to enter colonial ter-national trade regulated by the "ridiculous" high prices, higher we were asking New

London, Feb, 27. the political potentialities of rice and concerned at ricres will soon be revoked or simple formula of importing and than

to allow Japanese

Australio to tell exporting only that value of Zealand and

The tin marke! was steady businessmen and technicians to

Turnover was currencies derived the recent rise in price of the staple food of Asians laxed

from goods their meat to us, just resulted this morning. exported and imported.

in in our having to go "cap

175 tons. has taken steps to prevent further price in-assist in drvelopment schemes.

The emphasis is on "goods hand" to Argentina and pay

Prices closed at the end of exported,", whether to us or by amended, upwards considerably, the official morning session as

follows: Rearmament has curtailed price. our ability to provide

creases.

Singapore, Feb, 27..

It has appointed a three-man select committee to EXCHANGES

consider ways and means of keeping the price of rice down and study the best propaganda methods to encourage the eating of substitutes, like wheat.

HONGKONG

SHARE MARKET

Slum

Rice, mainly obtained from by the Government, is rationed to the population,

The

Siamese

Government recently increased the price to the Singapore Govremment,

sitating

neces-

a consequent increase

in the retail price.

Councillors immediately warn-

in price ed that the Increase

Ice the would create 'hardship poorer classes. They called for

subsidisation Government

(From Our Correspondant)

Sock on the Business done Exchance this morning amount-entire ed to 3840,446.85. Noon quota- tions and the morning's transac-

lons:-

Canada

IN NY

England-onlelui unamficial

*

New York, Feb, 27.

US$1.00

2.301

... 30-day futures 30-day futures

New Zealand

2.30 bld/

2.78

$33 asked

2.67%

0100

1455

0018-9/10

us:

to

Spet tin, buyers Spat tin, sellers Bulnera dono at

Grain

is current In-

072

973

nil

Prices

In Chicago

Chicago, Feb. 27. Prices of grain futures closed today as follows:

for PRIVATE ENTERPRISE equivalent export that volume The moral from all these and value of the goods many illustrations

Is that the British Three-months in, buyers 072 Three-inantlis in seller 073 countries send, or would like to State should now give way to Business done at

973-972 send to us. That Inability has the British individual or corpora- Settlemen!

1721 in the accumulation of on

-Uniled Pres sterling here, blocked in the tion, and leave him to conduct the country's business. The in- form of unrequited exports. dividual may quarrel with his

Many countries in the sterling vic area no longer whey want goods. not, however, attract the world- want these unre- opposite number over prices, quantities and delivery; he doc. quited exports. Unable to obtain these from us wide publicity with which the they are placing their orders movements of Government buy- elsewhere,

Western ing, or with the

selling missions are European countries, or with the enshrined

defeats, and whose hard currency areas, procedures publicised to the world, merely which are adding

the other foreigners to do the spur Treasury's financial dificulties,

to our financial dis-

Spot involving outlays in gold or

advantage.

March "Last year was another year of May dollars from our aiready scanty

July The time is fast ap-record reserves.

production, record Cal-

September when

drastie proaching

stepa,ployment and record expansion Decenter exceeding past measures, will for the Canadian economy," states

CORN have to be taken, or else we will the current monthly review Spot be denied the supplies of necessl- of the Bank of Nova Scotia. "The March

the July ties of life or of the materials for gross national product for processing by Industrial past year, recently estimated at September plants.

about $21 million, was $3 billon Dreetber

KYE higher than that of 1950. Though higher, prices account for the May Even Jugan is prompted to re- greater part of the increase, the

March Japan had agreed to let us have output appeara

New York flour-per 200. 19. Sack, 100,000 tons of steel; the Japanese some six per cent larger than 12.50.-United Press. Foreign Exchange Board has in- timated to its government that in 1950, and no less than 85 per greater than in 1939. Em- foolhardy Japan's already large in any previous year." sterling balances with us,

Australia

Souh Africa

Helgum

Benmark

France

West Germany

uf

Holtand

Italy

HK Bank XD

Eats Asla

INSURANCES

200

said Government The purchases. would give consideration to the

It also problem.

that Importation of nounced

rice avalable on the Siamese tree markot in Bangkok,

Lime some

ago, suspended

be resumed. A250- SHARES BUYERS BELLERS SALES would

ciated Press. BANKS

1310

174 @ 130 128

2070715

Norway

.1403

it

Portugal

Spiin..

an-

Switzerland

Sweden MIDDLE EAST Ewypi Iren 1521 Turkey LATIN AMERICA

2301

2,285

2,81

03125

5375

Argentino

.0725

Brazil

.0500

SIAM EXPLAINS

0115

4025

The

EX-

4.13 100

CUDA Mexico

frain

Uraguay Venezuela

.2005

FAR EAST India

2001

3040

Unifod Press.

360 yen to Uss

Canton *****

Union

Underweiter

HK Fire

SKIPPING

Asla Nov.1.7236 1.7745

DOCKS, ETC.

K. Wharf

N

PL. Wha:1

H

1716

Deck

Provident

Wheatosk

LAND ETC. HK Intel

IDS Land

100

►

Bangkok, Feb. 27. Thal Government

Bolivia Chitc Colombia

plained today that its embargo Paru

on all rice shipments on Monday was due to increased hoarding

109 by merchants and millers,

The Government sald they were speculating on price in- 4315 creases, and that the hoarding not only was hurting the Thoi public, but was hindering the of Government's procurement pro-

gramme,

45

8,40 800 830 ( 9.45

10 t

S'hai, Land-, a Humphreys 13.00

Iranty

UTILITIES

Tram

F. Tram (0)

Atar Feres

2.49

1.43

1350 € 259.

2000 14

(The Government has con- tracted 800,000 tons with other countries.)

Customs officials halted all loading after the broadcast sruptions,

A supplementary, order halted all rice movement in the Bong-

1710 18 600 @ 1738 kok aras

17,50

Last week the Government au- 200 a 17:30 nounced. willingness to give private exporters 100,000 tons ir 6.00 they assisted the Government in

its

contracts.-Asso- meeting zi soclated. Press.

125

C. Light (0) 8.00 8.30 2000

INDU

47 8.05

1000

3000

1000 de 21.50

101746 1000 dk 17.10.

50,10

Exchange Rates

•ITURINGON was dona, in the local. *00-19.50) 200 de 3414 ynamicist --exchange marizes this?

morning at the following PEJEN)- Usado for iper: $11- Stering note 1per £1) Jadersssie Builders ingr, 160) 1922

PLkiston

Hongkang indonesia Singapore Japan

·

The Rubber

Markets

Prieda

$2-3416

Gur

JAPANESE REACTION

"KIELDRECHT" "AAGTEKERK" -BLITAR" -"HOOGKERK"

EASTERN & AUSTRALIAN STEAMSHIP CO., LTD.

S.S. "NELLORE" Loading

MARCH 3rd

for

PORT MORESBY, SYDNEY & MELBOURNE,

+

For further particulars apply:—

|MACKINNON, MACKENZIE & CO.

P. & O. Building,

Tel: 27721-4.

ITALY. RAISING STEEL OUTPUT

new

Genoa.

At Cornigliano, adjacent to the port of Genoa, work is proceeding rapidly on a steelworks which is expected to raise Italian steel production by 20 per cent-from 2,500,000 tons to 3,000,000 tans annually.

The plant which, when completed, will be among Europe's biggest and most modern, belongs to the Government-controlled joint stock company Finsider.

WHEAT-price per Bushel

2541 nomainai

2.50%-

イリュージョ

3.4012

2,401

1.82 nominal 1.7512

lean

3.70%-%

1.7742-4

1.70

1.94"

1.0232

0022-35 22-893.

May

March

OATH

from trading with physical quantity of the national tay

to have been

considers it would be playment was also greater

to increase

Circumstances our 'relations

BIG EXPANSION

with Japan may result in our The review goes on to say that ultimately obtaining that steel perhaps the most striking feature

.get release of the record expvestment, and

This concern is investing the finished steel to a point where live equivalent of roughly £30,- Ttaly can compete with finished in the project. The products in International mar- 000,000

Ad keta. The works will Economic

employ Co-operation ministration has approved the between 2.800 and 3,000 per- £10,340,000 ns. Besides increasing crudo Anal szetica of a

to Finsider, which pro- steel output, the plant will pro- duces to 10 parent of duce the large-size rolled steel sheets required by modern la- Italy's steel.

The site thosen for the newdustries.

Finsider is at the same time a strip of flat land be- plant, tween the Maritime. Alps

going ahead with a plan to re- Its modernise The Mederranean, was

construct and to be too narrow for the pur-three chor big eelworks-at de-Ficmbino on the mainland-op- Engineers therefore Dcso.

the cided to secop earth and rock posite the island of Elba. from the foothills und Up it in-source of most of the Italian At Bagnoli, near to, the sen to extend the shorefron

of land Napics, and Temi la Central

100

and found

'0.30

New York Stock line, adding tres already, avail- Haly ECA also agreed to help

Exchange

Now York, Feb. 27. Prices closed hihor on the

to

able. A stone dyke to hold back with these profcels.

wh

are.

The

almost

Recovery In

NY Cotton

the sea is nearly completed and about 14.500 cub. yds. of earth. rock and rubble being tip- for which the British Iron and of 1951 was the very high rate of Stock Exchange today after pea into the sea between dyke Steel Corporation recently con expansion in the, national pro- moving lower earlier in the nd shoreline every day,

GOOD FROG the new. tracted.

ductive capacity, as indicated by session. Trading was moderate-

The framework of of $4.0 ly active at 1,260,000 shares. Unable to

Rails recovered in lost-hour plant is rising quickly, storting Japan is unable to pay billion on capital

furnaces are for coct-20,000 tons she needs, by the Influx of approximately dealings with gains ranging to blast London, Feb. 27.

New York, Feb, 27... of rubber futures and which she can obtain from 175,000 immigrants, the largest over a point. Other improve Balshed, The open-hearth tur

total

ment was very small with many nazes annyal

be ready by July, Collon futures closed "today," since 1913. Soviet Russia, closed today as follows-

Instance of the

Issues "holding at the previous Commenting on the prospect This in but one

steel-making is due to 1 point lower to 17 pomis when Number 1 rubber in conte ple

displayed begin, and, the stage of full higher, pee...

frustration of trade throughout for this year, the review does not close. Some olla Asell

******** the world, arising from the look for any recession in the Automotives

the in- strength. Steels were mixed

reached spo Of operation sheuta. be weakenedi

Narcis 11053 Moy

arly 31-311 absence of free convertibility distrial machine to which will 1,000 issues trade, 450 ad-

Comigliano July May JUDE S

Work meet be added the steadily expanding variced; 374 declined and 272 scheme begon in the autumn of October

on the 313-3 and Britain's 30-imports

will

industry. ARGENTINE

states.core

Before the end of 1952 were unchanged United Press.

1010, on adite where Finalder December outlays are South America

had a smaller plant before the March (1053)

HIC MAY are expected to be at #

war. The retreating Kiermans July And JAPANESEħ¿BONDS similar difeult trading situation rate of $1,500 million a

portroue million a year and.

away Canadian anned i in' addition, goods Production.

| NEW ORLEANS MARKET Urray London, Feb 27, dismantled 1, carrying. A year or so ago Brazil,

Leof defence further abipment

Lot UIS,

Send Japanese, bonds, f

42,000 tons of machinery. The

pot. Holland, which, that country had European account, may reach-a

(4s, of 1800) *** 67 site was steined for the new r (45. of 19107574 roject bespuse of is position May re-exported, and wished to rate of around $150 milliona continue to export, to the U.S.ALFyear Defence putput will thus

(61, of 1907) 107 near Glenos

shou'd "n". (5s, "od 1934)

The Cornigliano work Goldber Brazil wanted the dollars as the be exparising markedly during proceeds of her sales of that 1952, and, indeed, the peak wil,

(0% of 1034) 1184 20 tap towards making. Italy March, (1933) cammodity. Recently, Hollend probably not be roughed until Consolt eziyay a00% self-ufficient in xteek; produc- Unité Pretation and lowering costs of semi- attempted similar: Transactions} Well into 195145ALE

Apr2/June

July/September

October/December

-Press. SINGAPORE MARKET.

Singapore, Feb: 27.. Prides of rubber folures closed foday as follorgómetraying, Nomber: 3-rubbar, pet ib,

Number 3 rubbi

Number 4 rup

alek Brppa

100-11014

On this it

}

on

mber.

-40.95 nominal

40.49

33.78-30.82

39.61-39.00 56.30

$6.23

United Praus

13.30 bid