1952-03-06 — Page 9

MESSAGERIES

M

MARITIMES

Arriving, Leaving

"LA MARSEILLAISE” Mar. 30 "MAPIE HILE"

APC.

•"FELIX ROUSSEL” ....Ma.

1"MORTAIN"

"ZELIDJA"

Mar. 31

Mar. 1

Mar. 15 Mar. 16

алг 霉 Apr. 3

passengers & freight.

M

Outward For

Kobe, Yokohama

Homeward For

Marsellies via Manlia N, Attica Europo N. Milea & Europe

† freight for Saigon, Alexandria, Tunis, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES P.O. Box 63, Hongkong

Queen's Building (gr, floor) Tel. 20051 (3 lines).

M.V. “FELIX ROUSSEL”

will sail for

MARSEILLES

via

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

on

Friday the 7th of March at 9 P.M.

Passengers are requested to board the vessel with their cabin baggage on Friday the 7th of March between 4 P.M. and 8 P.M. (Dinner for passengers at 7 P.M.)

THE CHINA MAIL, THURSDAY, MARCH 6, 1952.

Smuggling In Singapore

Singapore, Mar. 3. Walch dealers have Issue.i a warning that smugeling of good quality watches

Colony Into the will follow the cut tu im- Rats to 25 per cent of

the present volume,

and The

Elugupote Malayan Governments ar- dered the cut to consyryo hard dollars and other eurreneles now being a- pended on watch Imports.

A Swiss watch importer wald good quality watches were being ommuggled into the colony from longkong Gud Bangkok during 1950 a. this is likely to hap pen again. Associated

Prest,

REACTION

TO SOVIET INVITATION

Washington, Mar. 5. The Indonesian Govern- ment has advised private traders in Indonesia that it has no objection to them sending representatives to the Moscow trade con- ference in April, it was learned here today.

However, the Indonesian not send an Government will official delegations to the affair. of tour committee Instead, Pasens, including a Government

been set up official, bas

In to provide informa- Djakarta

wish ไป sena delegates Moscow.

Baggage Room and Hold Baggage will be registered at Kowloon Godown No. 50 (No. 2 Gate Canton Roadtion to organisations which may Entrance) on Thursday the 6th of March from 9 A.M. to NOON and 2 P.M. to 4 P.M. and on Friday March 7th from 9 A.M. to NOON ONLY.

The Indonesian Government specifled that those, who go to be bona fide" Moscow must traders and not persons In-

_No_baggage__will be accepted for registration terested in ideological considera- after this time,

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong.

Queen's Building.

Tel: 26651(3 lines).

Anglo-Japanese Pact Revision To Be Proposed

Tokyo, Mar. 5.

The Japanese Ministry of International Trade and Industry will propose later this month a con- ference with Britain for a revision of the current overall payments agreement between the two coun- tries, sources close to the Ministry said today.

tions

Philippines Dispute R INTERN Lams

Over

Abolition Of

Foreign Exchange Tax Discouraging Investments

Manila, Mar. 5.

The Central Bank Governor, Miguel Cuaderno, today demanded that the 17 per cent sales tax on foreign exchange remittances from the Philip- pines he retained until the Bell Trade Act governing commercial relations is either repealed or amended to favour the Philippines.

Mr Cuaderno testified before the House Ways and Means Committee which two days ago heard a group of American businessmen ask for abolition

of the foreign exchange tax.

The Americans pointed out that the tax applies

remit to their home countries and said its continua- tion discouraged investments here..

to capital and profits which investors desire to

The

agriculturists and

American group also underpaid pointed out that other countries, labourers. such as Japan, India, Pakistan Lollars are pouring into the and Burma, as well as a number country at the present moment in South

America, are offering due to the seasonal milling and good opportunities for invest- espeat of sugar. Ehit a financial ments. without such restrictions crisis is expected within six as taxes on exchange remit montre unless there is an abrupt change in present trends. The Central Bank has not an- nound nounced Ats dollar reserves since the end of, last year but

tances.

the

manager

A. of

elated Press,

The

COPRA'S NEW LOW

HONGKONG SHARE

MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning amount- cd to 8552,274.75, Noon quota- tions and the morning's trans- action:-

AHARES BUYERS SÍLLERS BALES

12 v 1400 130

DANKS

IK Bank XD 1470 1500 East Asia ............”

Canton

Union

Underwriters

N. PL. Dock

Wheelock Hungkew

1.701.7715 0000 4 1.72%

ROYAL

**TJIPANAS" "TASMAN" “TJIPONDOK”

ETUIKABANE"

**ȚIU,UWAR* "STRAAT

SAILINGS

MAT, Mar.

8th

Mar. 14th

MP

MAKASSAN" Mar. 20th

PODIGNEVAIN"

“TZIKAMPEK"

"TUWANGI"

"VAN BEUTSZ"

"STILAAT HUENDA” Apr. 14th "TJILUWAU!?!

**JODAS"

"TEGELBENG“ "NTHAAT

MAKASSAR“

"TASMAN"

TJIWANGI"

"TJIPONDOK"

"TILUWAH"

TEGELBEN("

VAN HEUTSZ" TRIWANGI"

"TJILUWAI

"TARMAN" "TSISADANE" "TJILUWAH"

"STRAAT

MAKABRAR" *THIWANGI"

TASMAND

Stantia, Hingapore

8. Afcles

Singapore, Penang & keluvenn. Veh

Jam Tjirebon.

Bulabala & Machisar

Bemarang,

Singapore, Mauritias, Cangs, Zan

albar,' bar-es-Salaam, 8. Atdien

. Amerira

Semarang,

Singapore.

13Jakarta,

..Butabata & Siaczu

Japan

Hana, Shgapore, Mauritius, Jakarta, Tiirebon. Semarang,

B. Africa & 8. Aineclea

Surabala & Marakone a

singapore,

jakarta,

SCOLATADE.

Stabala & Mincausar Singapore, Penang & Belawan Dell atañita, singapore, & H. Atrich

Mar. 20th

Mar. 23th

zad Apr

Apr. 74

Apr. 16th

Apr. 12th

Apr. 25th ... ich

JABAR

27th Apr. May 2nd

7th May May 14th

May 2014

Ringapore, Diskarta, ŠETCITADE,

Surabaja & Mucasian

fijakarta. Tjtreban,

Surabala & Macauay

Semarang,

Manila, Singapore, Mauritius, E. & B.

Africa & H, America

Singapore, Penang & Belawan Dell Singapore,

Jakarta,

Surabala & Macassar

#jakarta,

Tiirebon.

Surabala & Muenster Singapore, Djakarta,

Bratpis & Marasiar Muntia, Hingapore,

Yemarang,

Nemarang,

Semarang,

Mauritius,

E. & S. Africa & 5, America

Slagapore, Penang & Relawan Bell Sincapart.

jakarta, Semarang, stirabila &. Marasiar Singapore, Djakarta,

Surabala ke Macassar

From

..

24th Jilno 2nd

June

10th

ARRIVAL B

Star. GU

Mat 13 Atar. 13th

Mar. 18th

Mar, 29sh

Apr. th

General

Japan

Japan

Surabala,

Bijakarta & Singapore

Semarang

Semaran

Africa,

America, N. 8.

Macassar,

5.

Stacer,

'Malektion, Singapore & Manila.

Surabais,

Semarang,

Djakarta & Singapore Penang, itelawan Beti, Palembang,

Djakarta & Singapore

Agents,

HOLLAND EAST ASIA LINE

"AAGTEKENK"

"BLITAR" "HOOGKERK"

ECHON

SAILINGS TO EUROPE

"UGOGKERK"

star.

200

60 gr

735 770 42 v4

2.30.

200 705

"ARENDSKERK"

Apr.

Bila 7th

"KIELDRECHT"

May

บ

"AAGTEKERK"

June.

Th

1 Fire 162

+

"BLITAR"

July

SHIPPING

Asia Nav.

SAILING FROM EUROPE

Sail Itotterdam

Arrives Вопсколе

DOCKE, DIG.

"ARENDSKENK"

Balled Jan. 31st

Mar.

Cth

K. Kawart

100

*KIELDRECH?

Apr.

10th

Apr.

Sch

MAY 10th

$5

800 174 40 300 4534

May

2nd

Juna Th

Play

2512

July

4th

IK Hotel XD 730 HK Land

nralty

1000, 7

62 8100 4G11

242 g 615

25

UTILITIES

Tram

17%

2000 17

C. Light (0) 8.40

Electric XD.

Telephone... 1874

INDUSTRIALS

Cement

Rope

STORES, ETC.

Dasy

Crawford

17

17 200

300 @ 10,70

a 1000

2315

10.30 304 1800

Some Philippines newspapers in their stories on the hearings said that this implied a threat to withdrew investments here, the depletion is expected to be INSURANCES

the larger than

unfavourable Parrish, general

wade balance of about $35,000,- Standard Vacuum Oil Company 000 would Indicale, Asso- here; told The Associated Press that no such threat was made or implied by the American group.

has long The exchange lux

bone of contention be- been n

Manila, Mar. 5. tween foreign businessmen and

cocoanut

industry Government. received a staggering blow when Philippines The businessmen say it imposes the price of copra, the country's addit,unal taxation on then, principal dollar producer, ro082- | LAND, ETC.

-Under-the-Bell-Trade-Act, dived yesterday-to.a. now low- The Soviet traile conference is

American goods are admitted 19 pesos per 100 kilos. designed, according to the Com-duty free into the Philippines, } The weak

weak marke, was traced munist sponsors, to relax the xps for a retail sales tax of y coconnut exporters and pro- tensions which restrict trade be-

and a two perducers to the excellent harvests seven per cent

soya tween the Soviet bloc and the cent processing levy made by and heavy stocking of

for control West and bring about

ssu and other sources office general the import

beans, babassu In return Improving in the living conditions handling permits.

turn of oil and fats. given a

The Philippines sugar is

all-time high of peoples of the world.

price of American

officials consider the quota of 850,000 lung tons in the copra was reached in 1940 when conference as a Soviet United States and other agricul- it was sold at 63 p2905 per attempt to break down from tural products are admitted 100 kilos. In the wake of the

or on a quota price. within the United States-inspired either duty free

is an announce- decline restrictions

basis.. trading

ment by members of the Philip- on

pine Cocoanut Association that strategic materials with countries

NEEDS REVENUE

they will work for the establish- of the Communist bloc.

of a "system of world They report that a number of

The Bell Act has provisions ment

market to ensure top-level Amerlenn businessmen

which gradually

diminish the cllised price level for Phillip have received invitations to the

amount of duty free Philippines conference but all declined or

imports into the United States pine members will meet on failed to answer. The sponsors

The Philippines Government

United to urge the then sent

Invitations to other

needs additional revenue. For Mar. 15 businessmen who presumably

Licht reason it is seeking revision States Congress to enact the

Bill abolishing of the act in order to be able Havener

Мосоч

Vere

1h

more

considered

The results of "sympathetic." the second group of invitations are not yet fully known.

Mr Oscar Lange, foriner Polish Ambassador to the United States, is general director of the Moscow trade conference-United Press.

The payments agreement signed last Septem- The Rubber

ber abolished the dollar clause and resulted in ex- cess Sterling reserves in Japan amounting to £90,000,000.

The

Government, produels, optical Japanese

UL the con-Shelt buttons, will seek to th

10 prevess | chinery ference

Icons further piling up of Serling re-principal

serves,

instruments, ceramies, mu“ The equipment, Swedish exports to in 1952 will be pulps, and steel products, char- coal, pig-iron, machinery parts, chemical ond pharmaceuties products and dry skim milk.

The announcement said addi- commodities such Tron and the Foreign Ex- tional change Control Commission be-ore, used ships and others will

be shipped

The Ministry, at p.esant work- ing in its play at the talks, will have to len out differences views on how to solve the Pound

Minist:y with the issue Finanze

fore the conference takes place.

cf

of

Financial observers said, how availability of ever, that dimculty by expected

belare the three Ministries reach

permit.

the open

Os

Markets

Prices

London, Mar. 5. closed today slightly easier after a firm opening. Number Tubber, In' cenis

per ID. April May June

April/June July/September

October/December

33-334 927%-3344

013-20

304-4 20%-1 United Press. SINGAPORE MARKET

Singapore, Mur, 5. Prices of rubber to Japan as the

futures closed today as follows:- these items will

Number 1 rubber, per lb.

108-24 Aprit

20096-33 May June Number 2 rubber, April 1854-10012 Number 3 rubber, April 70315-104 003.100 Number 4 rubber April Spot rubber, unbaled.. 10814-24 Black crepe

24-27 133-137 No, pale crepa

United Press.

account system in agretment on a unified payments terms of United States dollars policy.

established in agreement be- Ministry

that tween Sweden and the Supreme 90arees Spid while the Exchange Control Com- Allied Command in Japan on mission and the Ministry of April 1, 1950, now superseded, Floance are insisting on the has been adopted with modified- restoration of the "doller clause" tions to meet later develop- and participation in trade rela-ments in the trade relations of tions with the US dollar account the two countries, United countries, the MITI expresses the Press. view that the restoration of the dollar clause is not necessary. —— France-Bresac.

FACT WITH SWEDEN

Tokyo, Mar. 5

Japan and Sweden today signed new trado agreemer''s providing for the exchange of

TRADE FIGURES

Tokyo, Mar. 0.

#

Showing

decrease of $21,000,000

frem December, Japan's exports in January amounted to $129,000,000 the Kyodo News Agency reports.

An International Trade and Ministry survey

goods and services during the shat the month's 'ex-

to

porta to

the Sterling Aren

improximately $17,000,000 dropped to $67,000.000.

The

area

Cotton

In New

PCA

+

the

Grain Prices

to impose

pose tarifts for revenue three cents processing tax per even though these levies will pound on Philippine coesanut eventually be passed along tooll,-France-Presse. the customers in A country which is already suffering from Inflated prices of consumer

foods. goods and

At the Lame time, the hear- ngs, in Congress indicate, Fili- blandly assume that they ploss

send their continue to agricultural products into the duty free, OF

can

United States

nearly so.

In Chicago

COTTONS

EWO

MISCELLANEOUS,

IK Construction

(Old)

34

100 &54

... 340

1800 & 315

Foreign Exchanges In NY

Canada

H

w

New York, Mar. 3,

US$100+3/32

2.701

2:31 bid/- 234 asked

Chiengo, Mar. 0. Prices of grain futures closed England-oficial

unamiclai Some Filipinos are against today as follows:-

Wheat price per bushel

30-day futures 2.71 epening up the Act for revision

March at this time because they feel certain that the sugar, dalry-May

and lumber

agricultural July ing

September witt pecember Washington tobbies

Cort to press reize the opportunity

Larisch high protective for

May are ngalost the products which

July the life-blood of this nation's

September December economy.

Пур These Filipinos are those who

Marels are cognisant of the fact that May back in the 1930's the bill which

established their March! eventually independence Was pushed through Congress by the pres- interests American Eure of which wanted to halt the com

of petition

cheaper agricultural products, principal. ly sugar.

THE LONG VIEW

Jsland

1.06154

1.0215

Portugal

Spam

2.3ZE:

» 20-day futures

2.77%

2.50

Australia

22

2.44

New Zealand

*2.77

2.4331-**

South Africa

7.7822

2.40

Helg 41171

2013!

Denmark

3455

1.011

France

0030-0/16

1.7812

West Germany

4.20.

3.829

Halland

дезб

1801

1.03-1.54 Italy

Norway

1405

1.71

.03747

0213

Sweden

.0033

Switzerland

.2293.

Liny

03 - 2344-32 New York Flour-per 200 lb. Sark. Egypt

Iron $12.60 nominal- United Preas.

Iraq Turkey

MIDDLE EAST

2.0053

03125

2,81

.5375

LATIN AMERICA

Argentina

0723

Brüzl

0300

Bolvin

Chlie Columbia Cuba Mexico

.0115

4623

5.00

Hides Trading

To Resume

New York, Mar. 5.- The commodity Exchango While there is a temporary

Far announced today that trading

Prices shortage of sugar inte he hide futures will be resumed on Uruguay

York

New York, Mar. 5. Pricen of rollon futures closed today as follows;- Spot March May July October December

40.93 nominal

40.44

30.77

70.07

35.04

29.61 nominai

calendar year 1032 amounting

from Sweden and exports $10,000,000. In

Exports to the Open Account March (1853) from

May.

3343 dropped by $4,000,000 to Japan.

July

35,10 in the agreements were signed $37,000,000, and those

NEW ORLEANS MARKET Daling

$5,000,000 10 Spot

30.95 March Minister for Foreign Affairs The Sterling Area' accounted May

$23,000,0rch by for 52.3 per cent of the total export Agure, the Open Account area 20.2 per cent and the Dollar unbalzerd Area 18.5 per cent, the same as

by

Vice- Mr Sadno Iguchi,

and Baron K. G. Lagerfjet, Swedish diplomatic representa

tive

in Japan The Forcim Officò announce- mora! said:

The

trade plan is based upon the December but lower than the

Iden that I

July October December March (1033) Muy July

Seeds

Bangkok Action

Bangkok, Mar. S. ́ ́%

la desirable that 22.3 per cent for the last your.--

the voluma ef trade between Associated Press,

the two countries be maintained

at least at the normal level and

that the net amount unfavour-

able to Sweden, which resulted

30.03

34.65

33.82 bid

39.01 bla

And Oils

March 10, after Venezuela Filipinos to produce and sell to Monday, other countries a pront for suspension since March 31, 1951. FAR EAST

Members of the Exchange to India short time, in the long run

*** Pakistan

Japan

the nearly restored sugar pro-day approved a new hide con- Hongkong Individual hidea Singapore ducing orca in the East Indies tract dealing with specifle grude indonesia will be able to undersell the weight and

instead of selections of hides og local product

Informetly-United Press. Already there is a crisis copra, largest foreign exchange

producer for the Philippines in

the

cra. post-war The price New York Stock

of copra has dropped to a six-

year with quotations on the

top Bride yesterday; at 20 pesos

(U8410) Per

100 kilos (220

pounds). Shipments have fol-

Exchange

New York, Mar. 6,

2003

3015

3270

300 yen to US$1

-United Presa,

LONDON TIN MARKET

London, Mar, 5. Prices of tin were steady this morning. Turnover was.75 tons, including Ave tons for: cash,

Prices posed tra end of 264.66 the official morning morsion na

len off, cutting into the income Dow Jones averages at the of one-third of the Philippines end of the stock market season populla lon, which

stood as follows

already

on little more than a bare rub-30 industrials sistance lovel

The

80.73 follows:

08.95 Spot tin, buyers

978

181.37 Spot tin, sellers

07814

United Press.

Business done at Thres-mantha fin, buyate "Tree-months, ūmi, seilorn, Duziness done t Settlemant

070

010

07434

D16

178

United Pres.

JAPANESE BONDS

London, Mar. 5.

20 rolls United States Mutual 15 utilities

pouring 40. bonds Securtly Agency is -United PresŠ.

$32,000,000 into the Philippines the present fiscal year during and apparently plans to send in evin a larger, smount next year for the purpose of reviving the New York, Mur. 5.

drop in copra coonomy. The Prices in the seeds and olla prices, if continued, will just Japanese bonds, Tho Thal authoritita tiny from Sweden' overbuying in 1951, be offset by means of partially lifted the embe en market closed today unchanged about cff: thi, acme observers the flow of goods during the rice experts, which was impered with the following exceptions: believe,

Tung oll in tank cars FOB. of the calendar year Feb. 25, by permitting the

Landing! of government-to-New York, per Bb, 40-421⁄2 The pricinal exports trom government rice, on which export Flax seed, par bushel, F.O.B. United Japan in 1052 will consist of duty had already been palā. Minneapolis 4.10%. textiles, chemicals, agrigultural | Router.

Courso

$1802

Pr095.

The purpose of the American id for ambillas the compo cnd improve the tot of the masses as on andole to Communium, which is largely : sprend among

"A" {4s. of 1899) "B" (48, of sio)' C(58 of 1907) "D" (8% of 1034) .......... *" (5% of 1994) Consols

2614

Exchange Rates

Aunther was "done" in the lacul:

exchange.. market -- 60% Punonigini 100 morning at the following rates

1.8. dollar (her $1) Laonaige 70% Sterling, nots; (net £}} \ig

Indonesia guilders (per 100) 122

Slam Uicals (mar 100) Bingapore (Straita).

80

United Press.

VIC Diusirde (bar 100)

£48228

20.00

MAERSK

LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S.

"TREIN MAERSK"

M.S.

"PETER MAERSK”

M.S. "NICOLINE MAERSK"

Mar. 16

Apr.

2

Apr. 16

Mur. 16

*Mar. 25

ARRIVALS FROM U.S.A.

M.S. "NICOLINE MAERSK"

M.S. "SALLY MAERSK"

M.S.

"OLUF MAERSK”

Mar. 27.

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel: Nos. 36066-9.

195.22US

International Trade Directory

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FREE LISTING → Firms whose names have not yet, been-listed under the HONG KONG "SECTION"arð" requested to send in their entries on or before, March 25, 1952; after which date no entries will be accepted, Advertising Rates can be obtained on application to. the above address. ̈