1952-03-07 — Page 9

}

MESSAGERIES

THE CHINA MAIL, FRIDAY, MARCH 7, 1952.

MARITIMES Gold Reserve

M&M

"LA MARSEILLAISE”

"MAPIE HILL”

Nerlying Leaving

Mar, 31-

Apr.

D

FELIX ROUSSEL“ ... Pent {"MORTAIN"

{"ZELIDJA"

Apr. -t

futword For

Kube, Yakuhajna,

Homeward For

Mar. Marseilles la Marilia Mar, 10 N. Ablea Europe Apr. 5 N. Attica & Europe

:

passengers & freight. freight for Saigon, Alexandria, Tonis, Murzeilles, Algiers, Oran, Tangrier, Casablauen, Havre, Dunkirķ. Antwerp & Rotterdam

4 Sabject To Change Without Nolder."

CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong

Queen's Building (gr. flour) Tel. 26651 (3 fines).

M.V. "FELIX ROUSSEL"

will sail for

MARSEILLES

vin

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

CIST

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

Passengers are requested to bird 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.)

Baggage Room and Höld Baggage will be registered at Kowloon Godown No. 50 (No. 2 Gate Canton Road 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 AM. to NOON ONLY.

Below The

Safety Level

A

Leudon, Mar. 6. qualified Informant said yesterday that the Stating Areas roli and dollar seseryes have slipped below $9,000,000,000-leng regarded as the minimumi safely, level.

There is some colleern that by June 30 these re serve the Sterling Area's capital for trade with the arst of the world-may sluk as low as $1,000,000.- 000.

This wonkel be only $250,000,000 more than the crisis level Teached Just hefore devaluation of the Pound Sterling in Septem- ber, 1040. From that low potal of $1.350.000,000 the reserves had climbed, al- amast to $4,000,000,000 b

of last year the mide hefave the current decline started. Associated Press,

FOREIGN EXCHANGES

IN NY NNY

Canada Emai

anolli

30-day 1-chay

Australia

New Zealand South Africa Belgian Demosak

Francy

West forumDBY Tolland Italy

Portal

Społ

No baggage will be accepted for registration Ty after this time.

New York, Mar. . US$100-1/16 2.7%

future. fatores

2.31 bid/ #34 askedł

2.77 2.774.

0100% 1-153

0920-0/10

1.20

2630

1402

0370

.465

Sweden

0933

Switzerland!

SOULE BANT,

Enro

Ba

03125

Iraq

2.111

LATIN AMERICA

Argentina

trazil

R300

Holyla

Chile

0115

Cumbia

4028

1

100

Mexico

1753

56

Tel: 26651(3 lines).

U vergis

1940

Venezuela

2005

FAR KAST

*

Erudia

Pakistan

DEN

Hongkong

Indosta

Singapore Japan

J013 3270

CIE DES MEessageries maritimes

P.O. Box 53, Hongkong.

Queen's Building. -

STARTLING RISE

IN COSTS OF OIL INDUSTRY

London, Mar. 6.

The startling post-war rise in oil industry costs is revealed in figures just published by the American Petroleum Institute.

and yes to US$1 -Unlfen Pres

The Rubber

Markets

Landon, Mar. 6. Prices of rubbor futures claves today as follows:-~ Number 1 rehber.

In cents per th

April

May

מוגז

July/September October/December

To take one example, drilling. Although April/June revenue per foot drilled remains about the same as in 1941, drilling costs have risen. by over 80 per cent since that date.

war

Refinery construction creased by between 125 per easts likewise are some cent and 140 per cent, while 100 per cent above pre-a pipeline which cost, on an level And market average, the equivalent of costs have in- £4,000 per mile to build in between 1938. now cosis £7,000 to £8,000 for the same distance..

Regrouping

Of Factories

In Japan

Tokya, Mar. 0.

To carry out the ncccszary replacement, modernisation and undertaken expension schemes

in the USA. Itself during the Eve years 1946-1950 the oil men spent the equivalent of well over £3,000,000,000 and re expected to spend another £1,300,000,000 in 1952 alone.

That sort of expenditure-~ typical of the oil industry's

The Ameriena nulliorities plan outlay in all parts of the world to regop Japanese plants underwhere it is now operating- dheet and indirect control of the garrison forces, according to emphasises the need of capital resources on the largest possible well-informed circles,

* scule, Sala-owned plants requisi- It also emphasises why such a oil tlunod

by the Americans-large proportion of the earmarked for reparations--will Industry's earnings is being re- be

the direct invested in future operational placed under control of the garrison forces projects. while civilian plants will be

controlled indirectly through an|les, the annual report of one

American supervisor,

of

oll group, published only inst June, showed that, taking depreciation and the reserve According to the newspaper allocation together, close on Yomiurl, the Americans plan a £100,000,000 had been allocated huge motor-car plant embracing out of the year's earnings for the Full Motor Works in the modernisation and extrision Oppama area in the vicinity of the group's undertalings. Yokosuk About 20 Japanese plan's in the area would be requisitioned and incorporated in the huge plant together with their present workers-France Presse.

SMALL WONDER

Small wonder that one City "'ploughing Editor called this back' on the granit scalet" NA

And within a few months of this announcement, an executive of the same oil group forecast that Britan and Britich Dutch companies were to hold

Jap Freighter's

India Trip

3124-341

3333-34

33-33%

32-3352

33-5312

31-311 30-303 UntiedPress. SINGAPORE MARKET

Singapore. Mar. 6. Prices of rubber futures closed today as follcs- Number 1 rubber, per 1,

April May June

12014-2 10015-34

Number rubber. April 10724-108

Number 3 rubber, April 105-1087

Number 4 rubber, April 101-103

Spot rubber, unhaled Black crepe

No. 1 pale crepe

1104-14

B0-83 132-137 United Press.

Jap Metal

Production

Tokyo, Mar. 6. Japan's production in January

1h3

Britain To Bring Up Japan's Sterling Debts At Financial Talks

}

(OUR OWN CORRESPONDENTI

London, Mar. 6.

Taiks which are due to begin at the end of this month between the British Treasury and the Japanese Government, to review the working of the new Sterling payments agreement, are expected to include at least some reference to Japan's Sterling debts.

The suggestion may be made that surplus Sterling balances built up by Japan since the agreement came into operation last September should be used to redeem part of her £90 million debt to Sterling bondholders,

Signing of the new payments agreement, which ended the previous dollar conversion arrangement, was welcomed as a means of increasing trade between Japan and the Sterling Area.

was foreseen

The possibility that Japan might, build up ar- ger stocks of Sterling but this was considered not inappro- printe in view of Japan's need for larger reserves from which to meet her outstanding liabili ties

Holders of Japanese bonds. however, have been disappoin ed with the method-chosen by Japan to reduce her Sterling holdings.

HONGKONG

SHARE MARKET

(From Our Correspondent)

World's Output

Of Tin

Roy

***PANDIAN"

**TJRADANE”

“TJELUWAI

"STRAAT

MAKASBAR" "THESBEVAIN

INTEROCEAN

HAILING'S

Star. ኹና!! Par Mar. Esta

Mar

6th

Mar. 20th

Mar 27100

**FIJKAMPER"

"TJIWANUP!

Apr.

Zna

HASTWAY'

Apo

Eili

"TASMAN"

A

K

PSTRAAT BORNDA" Air.

DIM

"PIILDWAJU"

Apr.

Josh

TINOBAS"

Apr

Apr. 2544

"TEGELBERG" "STRAAT

MARASSAR**

**TARMAN" "TJIWANGI"

TJPONDOR"

**TILUWAIL"

TEGELBERG”

"ÉRIVAT “TJIWANGI"

**TJULUWAI

TJIPONDOK" The Hague, Mar, G.

TASMAN" Statistical figures publish- "ramADANE" ed by the International Tin "JILUWAIF" Study Group today reveal-"STRAAT

MAKASSAR" ed that the world producTJIWANGI tion of concentrated tin

"ŢASMAN" dropped from 14,300 long tons in November to 14,000 long tons in December 1951.

The producten of tin meta trs from 13,700 15ng tons frt 13,100 long tons in December,

They consider Japan should now use these balances or at least that part of them that is

Business done on the StackNovember to considered in excess of current Exchange, this morning amount- needs to resume interest payed to $279,875. Nuon quotations ments m her Sterling debts

rather than enforce a reduction and the morning's transactions: by restricting Japanese experts SHARES BUYERS SELLERS SALES to the Sterling Area,

The Brillsh

Government has BANKS already stated that the question of debt repayment is a matter between the for settlement Japanese Government and creditors but this does not pre- elude the possibility of inter- vention by the Treasury in the British bond-

Interests

holders-

of

DATE REQUESTED

It is recognised, hinwever, that any arrangement which did not alt ไป give equal treatment Japan's foreign cred

creditors would unlaubtedly arouse strong feel- ings in other countries.

DOCKS, ETC.

-

0001 200 « 41!;

100 00

Apr. 25th.

Ape. th

• And

May 7th..

Alny

Stay

IGI

1798

Jene Ent 6. Jwie, Ind

Juta 15th

To

Page

Singapore, ennne & Relawan. Beli akaria! Thepon, SEMATE

La surabaja & Maraxnar ·

Singapure, Mauritius; "rangu, Zan- bar, Dar-e-Naldus, N. frien

8. Ameriva Singapore. Djakarta,

Burabata & Macasin

Japan

Branila,

Semarang,

Singapore, Mauriting. 8. Africa & 8. America Bjakarta, Tjirebon, Semarang,

Surapala & Besar RESEAZIDTO.

jakarta, semarang.

Búrabala & Maraisar

Singapore, Penang & Relawan Bell

Japan

S. Milva Jakarta, Semanļu, mahala & Macassar jakarta, Tjirebon, Retarang

Surabala & Maraisar

Manita, Stoperate, & Singapore,

Japan

• Manifa, Ningapore. Mauritius. 1. &,9,

ARI 28. Ataerien

Starupore, Penang & Relawan Dall SERATANE,

singajure,

Surabala vassar

Tjkaricu. Semarang, istrubala & MacASSET Slag-pute.

SUBIACANG,

Manakala & ~ Marpakar

Slugapore,

Stardu

plautitles,

E. & S. Africa & 8. Amertes

Japon

Singapure, DJakarta, Semarang,

suzabala & Macassar Slugapore, Djakarta. Semarang.

Sarabalu Macaesar

From

ARRIVALS

Alur. Mar. till JINY. 13. Mar. 1

Wh

Mar. 18th

Mar. 2011)

Japan Japan Гарал

stacassar. Kurabala, Semaraut,

Djalaria & Singapore

$.

America, R. & K. Mfrlen, Mauritius, Niugapore & Maulla. Macawar, Surabala, Semarang,

Djakarta & Singapore

Penang. Tletawan Delt Palembang.

Jakarta & Hingapore

General Agents,

HOLLAND EAST ASIA LINE

In January 1952, Britain "HOOGKERK"

"ALENDSKRпк" PRISLURECUT" promised to deliver 20,000 long Tors of lin to the United AAGTEKERK” States during 1952. The first "KLITAR" shipment of 75 tons to

the

די

SAILINGS TO EUROPE.

Mar,

TIM

Apr.

7th

Alay

June

71

July,

7th

$110 Пetterdam

Star.

5th

Apr. 100%

Ass.

501

May 10th

STAY

2nd

Jurie 7tta

May

28th

July

Juno 2nd

AUR.

United States sine: Merch 1951 SAILING FROM EUROPE left. Singapore on f. 20.

"KIELDRECHT"

World production of tin plates «ÄÄGTEKERKS"

during 1951 dropped to 5,640,-

000 tons compared with 5,853.00000GKERK" in 1950

It was the first time sins. 1945 that production during-one year was lower than the year

The

decrazsa was ceused by smaller production in the Dited States and Nevertheless, world

Britain. productica

HK Bank XD 1476 1549 INSURANCES

2-1400

Canion Union HI Fire Ils

SHIPPING

200

769

150

Ald Nav

15,000 4500

1.7212

1.724

K. Wharf.

107

N. P. Whart

500

6.00

Provident XU Wheelock

121

4069 100% 14

before.

300 x 43

mainly

LAND, ETC.

HK Hetel XD 740 7.00 JIK Land

2007

1.10

さい

17.10

24

C. Light (0)

500 op 9.40

C.

Light 12:

Electric X13

INDUSTRIALS

Cement

It is unlikely, therefore, that any agreement will be reached on. the Sterling debts prior to the debt conference attended by all Japan's foreign creditors.

British The point of official intervention would be to remind the Japanese that means Br available to them when repay- ment begins.

Meanwhile the Council of Foreign Bondholders, acting on behalf of British creditors, has again asked the Japanese Government to fix the date for a full-scale debt conterence. FUNDING OPERATION Such a conference, it is pointed out, could not take place until the

present German debt talks end-probably in two months time-but the Council would wel- come the Axing of a definite date. Actual method of repayment would of course be matter for discussion by the conference but It !! considered unlikely that the Japan will be able to repay whicle of her Sterling debts at of funding once. Soine form sparation will almost certainly

necessary.

Meanwhile, indications from America that the Truman Administration is anxious to secure speedy ratification of the have peace treaty Japanese been favourably interpreted on where Stork Exchange the Japanese bonds have made some notable gains,

Weekly Bank

Statements

of ferrous metals, particularly. Iron and steel, continued upward trend established in the fatter months of 1951, azzording to statistics compiled by SCAP's Economic and Selentifs Sention.

Compared with year ago, the January 1992 output of pig iron increased 44 per cent. Steel intial ment for production showed an increase

the

of 10 per cent over that of a yen ago.

"

London, Mar. 0.

S'hai Land

Humplicys XD 13 Really UTILITIES

Trem

Peak Tram

(0)

Hope STORES, ETC.

Dalry

G

30 3.43

2000.

Sou 20.50

009 20

still 50 per cent above the pre-war figure.

In sme smaller countries, tin plate production is still grow. ing.

third the the world. closely followed by Germany

Capada is

now largest producer in

240 5.0 and Japan. Canadian production 2005.03 is ten-times their pre-war out- 20.00 550 21 put.

which Mexica and Braz, did not produce tin plate be- fore the war, joined the pro- during countries since 1947. Production, rose from 2,400 and

0,210 tops,

2001 100 ft 1815 300019

respectively,

in

their first production year to 13,000 and 42.000 tons, respec-

"ARENDSKENK"

KING CHINE

Arrives

Hongkong

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA yls SAN FRANCISCO, LOS ANGELES AND PAŇĄMĀ.

NEXT SAILINGS

1000 722.30

10 10 200 101

M.S.

TREIN MAERSK”'

1000

2001tively, in 1851.-United Press.

M.S.

PETER MAERSK"

2412

3512

M.S.

NICOLINE MAERSK"

5000 5,05

Waisan XD 1. Crawford MISCELLANEOUS

Yangisze ... 5.03

Waiting For The Budget

Landon, Mar. 6. Business in the London Stock ! Exchange remained from today but traders appeared content to const until they get a look at the Churchill Government's Budget.

Gill-edged

securities moderate support.

The new Budget will presented to the Commons Tuesday.

The Financial Times' dally index was 113.3. Associated Press..

Exchange

Rates

thals

Business WAS Gune in the local upoficial

market exchange morning at faltowing ratus U,B. dollar (der $1) A

The Bank of England state-Sterling, uple in £1

Indonesia guliders per 100)... the week endingam Ticals (pur 162 Mar. 5 reads as follows:-- Notes in ciréúlation

Publio deposits

Private denali

that

The statistics showed 300,700 metric tons of pig iron were turned out in January 1952, and 505,000 metric tons of hat rolled steel produced in the same period.-France-Presse.

CHICAGO GRAINS

Chicago, Mar. 6, Only very small price changes were recorded in grains at the opening on the Board of Trade today. The trading pace was slow and the market licked any real trend..

Wheat started unchanged to 1⁄2 cent higher, March $2.524.

"Soybeans were cents lower to higher, March $2.95 - thel own in the world's o Asociated Press. marieel they would

to spend nearly another £500,000,-

Have

000 on new plant in the r

the next NY

Government securities

Other securities Receipts

Τα τρία

Singapore (Siroita) 21.315.111.000 FIC plastres (ver 100)

20.103.png

337,031.009

33-358.000

39.209,000

20,777,000

United Press.

2.0

BANK OF FRANCE

Paris, Mar. q. The Bank of France state- ment for the week ending Feb. 20 reads as follows:- FTS, Total gold holdings 101,444,078,023 Total of other cus

3,009,030,044 rencies

13.500,748,272 sight balance abroad Advance to currency

stabilisation

13,400,000,000 fund Bills: discounted in

680,322,480,609 France and abroad Notes in circulation 1,630,033,383,235 Current accounts &

depselly

202.400,707,207

Hatted Praty

JAPANESE BONDS

London, Mar, 8.

This, of course, will mean y. Cotton Markot Japanese bonds

Tokyo, Mar. 4. The Kokusal Line's Nissan few years. Maru, 8,898 tons, is to leave Nagoya on Mar. 22 or 23 with more ploughing back of incomo

'full load of cargo for India and the need of large enough and Pakistan, the Jiji Press Incems to enable such sums to reperied this morning.

this

be found: Shipping circica said that this That Is

Is why budgeting even Is the first time any Koins with many millions of pounds

avaliable in the form of corn-. Linp vessel operating on touty has carried a full cargo ingameans such meticulous steel planning and wolghing 'of The SAFFOOD includo Brogues, machinery, ceramic priorities for large industries as goods and

៨០ចំ

well, an for the man-in-the- ∙sundry Franco-Presse.

BreetLondon Express Service..

40.42 39.60-70

630,76-77

New York, Mar. 0. Cotton futures opened un- changed to 30 centy a bale

·Idwer

March May July October December March May July

95.07-00

35.53:

25.41

78

6814

·00125 100%

"A" (48, of 1820)) "T" (4n, of 1010) C69, of 1007) "D" (5s of 1034),

E1525, 91-1034) 4211⁄2

00-3/10 Consola

Mais Valted Fross,

Washington Mar. 6...

• The Corama.co

Department.

sald today that it this Angraped. export licences for abirint of cotton pulp (Bleached inters) 'to ----Associated. Frost. Israel United Pros.

LONDON MARKET

London, Mar. 6. Prices of tin were steady this morning. Turnover was 55 tona. including Ave tons for cash.

'Prices closed at the end of the official morning session

follows:-

Spat tin, buyers

Spot tin, sellers

Business done Al

Three-months tin, buyers Three-months in, sellers Business done at Settlement

05

970

United Press.

ARRIVALS FROM U.S.A.

M.S. #NICOLINE MAERSK"

SALLY "MADRSK"

MS.

M.S. "OLUF MAERSK"

Mur. 16 Apr: 2

Apr. 16

!

Mar. 16

Mar. 25

Mar. 27

For Freight and Further Particulars please apply to:-

AGENTS:

JERSEN & CO.

BBC

Pedder Building:

Seeds And Oils

New York, Mar. 6.

the seeds and oils Prices in market closed today unchanged with the following exceptions:

Peanut oil per lb. F.0.B. New York. 14-%

Flax seed, per bushel. F.O.B. Minneapolis 4.14.-United Press.

Food Prices Down New York, Mar. u.

Wholesale food prices,

S

Tel: Nos. 36066-9.-

ESSENTIAL SUPPLY CERTIFICATE

DECLARATIONS

Forms 3, 4 & 5 as amended- by the Government of Hong Kong

NOW ON SALE

at

4.1 measured by the Dun an SOUTH CHINA MORNING POST LTD.,

15.07

2.30 Bradstreet index, fell two pea's

25.0 in the week ended March 4 19

$6.50, the lowest level in six

1.75

13.40

non ha-United Press.

Hong Kong & Kowloon.

These amended forms come into force on March 7th.

UMAI AIRWAYS CO.LED

TOKYO TAIPEI HONGKONG BANGKOK RANGOON

CALCUTTA PENANG SINGAPORE SAIGON

"THE TRADE ROUTE OF THE ORIENT”

TO BUSINESSMEN:

Connect your trade around the Oright by personal calls on your business friends.

Use this most convenient of all Asia air networks to discover

now business opportunities.

and explicult TAG on how to plan your tours at the lowest cost and

maximuni convenience.

BRANCH OFFICE (P.OJA.S.) Peninsula Hotel Lobby. Phone: 58865