1952-03-11 — Page 9

MESSAGERIES

MARITIMES

MOM

Arriving Leaving

"LA MARSEILLAISE" «NT

"MAPIE HILL"

"MORTAIN

"ZELDJA"

"LA MARSEILLAISE”

3"BEAUVAIS"

coutward For

20 Kobe, Yakoftaria

Mar. 30

↑

Mar.

13 Apr. 4 11 Apr. May 1

passengers & freight.

+

ተ

freight for

Saigon,

Itoninward For

Africa&urone Mar. 16 N, Aur K. N. Africa Europe Apr. 12 Marcillos via Maulta z N. Alrica Europe May

Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Cumblanca, Havre, Dunkirk, Antwerp & Rotterdam,

Subject To Change Without Notice.

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

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

Nigerian Foreign Trade Reported

At A New Peak

London, Mar, 10,

Nigeria's up and coming trade reached a new peal in 1951, it is revealed by official figures published today.

Exports were £130 million (£77 million in 1950). Imports were £83 million (£63 million) and this gives, the country a favourable trading balance of £47 million.

Biggest buyer from, and seller States, which bought £13 million

million), Germany ia, Nig.a was the British Com-, (£10

Cominon-inillion (£1 monwealth, for wealth Lought 400 million worth Netherlands Migerian_produce and sold million).

The

Cheon was

million) and the £3 million (2)

Nigeria E51 milhon of gunds.

Nigerin's binner! Next biggest costumer For money-spinner, nelling 5:37 Nigerian produce was the United million, valued at pries paid by

buyers world

(13 million, valued in 1958 at prices paid by the Me

Marketing Board to growers), followed by palm kernels, £22 million (£16 million); palm £14 million (£11 million); tin, £9 million (£4 nullion): rubber CB million £2 million): hiries and skins, £7 million (£6 million); timbor

million CURA million); Colton million (£3 million).

increased trade higher prices as well as to on increased volume of irade.

- Reselling Of Silk

Has Japan

Worried

Tokyo, Mar, 10. The Ministry of International Trade and industry is deeply upprehensive

that Mie

current

was due

1u

COMMODITY SLIDE

Meantime, trade officials are closely watching the present

Durch inned of reselling Japanese silk to America may; spread & the Sterling nations, chrsing policy of the Marketing Bertung stain.

Dutch impertits, it is stated, are buying it from Japan and reselling Amerlen under the Pts) Goverrunent's ten per Incentive scheme for dolor experts.

slide in commodity values.

Even though markets may fall further, they slate, the par-

Boards will prove their worth.

The Beards nce at

present Nigerinn

producers paying

ru'ing lower prices than those in world markels.

However, they have built up sufelent reserves ta guarnatec

THE CHINA MAIL, TUESDAY, MARCH 11, 1952.

Outlook For ··

Newsprint

Johannesburk. Mar, 10.

British newspapers had Bite or un hope of being able to increase their sixo In 1952, Mr P. R. J. Fitt, Director of the Bowater Corporation, news- Pape

print producers, said here today,

Mr Fitt added that the

six - page daily present newspapers in the United

Kingdom would have to be sufficient because new- print stocks, while a little better than last year, were still too low.~Reuter, -

Living Costs In The ROYAL INTEROcean Lines

Philippine Islands Still Soaring

Manila, Mar. 10.

The average Filipino citizen makes more money today than he ever did but he has to spend much more than over and generally has to tighten his belt a little.

-

The reason is high prices — usually three to EXCHANGES four times pre-war levels and sometimes much

IN NY

Now York. Mar, 10. Closing foreign exchange rates (Great Bain in dollars, the.s in cents):

Canallan dollar in New York open naikel 200. Us rents, tinelang d

Great Britain $2.78-3/16, up là of acent.

Greut

30-day Britain

futures $2.77-7/18. up of a cent,

60-day Great

futures

I

5: 7-1/13, np 1% of a cent.

Grenl Britain Do-day futures $2.74-1/10, up 1⁄4 of a vent.

Belgium (8", unchanged. France 2 of a cent, unchanged. 1lland 26.35, unchanged.

faker a cent, unchanged.

Portags 1.50, unchanged.

Sweden 10.35, unchanged.

Kavireland 9291, unchanged.

Argantia 1.22, unchanged,

.

Pradl 550, unchanged.

Mesin 11.37. unchanged. Veneur 30.03. unchanged. Hongkang dollar 17.50, unchanged.

scated Press.

Free Trading Discussions

Manila, Mar, 10. The current move to substitute a selective free trade arrange ment for the present free trade provision of the Bell Trade Aci of 1948 between the Philippines and the United States fores serious abstacles because both countries are members of the general agreement on trade and

aviff

fame

more.

Manila, capital and nervei centre of the Philippines, is)

one of the most expensive HONGKONG

cities in the world to live in.

The average Manilan to- dny is worse off than before the Pacific war.

Out in the provinces, however, Hife is generally easier on most Filipinos, even though hundreds

of them of thousands unemployed or can find employ- ment only part of the year.

SHARE MARKET

Exchange

Awaits Budget

GOOD TONE ON

THE MARKETS

*

London, Mar. 10. The pre-Budget period has produced a surprisingly good tone on the Stock Ex- chango.

The Financial Tiraea' index of a market value of leading in- pari durata rose during the week by 3.3 points to 113.0. The lowest so far this year was 110.3 in February and the lowest last year was 115.5, in January, 1051, On the whole the picture sug- (From Our Correspondant); gests that the market is ready to

face the Budget. Business done on the Stock

Every sort of forecast has raced Exchange this morning amount- The minimum wage for the

ed to $184,187.50. Noon quota- through the markets. Manila area is four pesos or twotions, and the morning's trans-that Mr. R. A. Butler, the Chan- U. S dollars a day, but that is supposed to be the lowest

aro

uctions:-

pesonal labouring class income. | SHARES DUYENS BELLENS SALES

The average ware earner gets! BANKS 1200 to P250 ($100 to $125) a mith and if he has a wife and three or four children he almost INSURANCES never has enough.

A DEFICIT

Usually, he spends all that the carns and has a small dellelt at the end of each month.

The creditor, most likely, is the corner store owner, where the worker gets his prime needs

reputation On his

as a good

Here's an estimate of what the debtor, when the cash runs out. average Manita family man has to pay for monthly:

Rent, least P40 (920). Rice and brend, P25. Fish, vegetables, pork, meat, and eggs, P60.

$70.

le

Coffee or cocoa, sugar, and milk, and margarine, P10,

Electricity and other fuel, P7. Delerrent is in the "most

LITTLE LEFT OVER favoured nation" clause of the GATT agreement, which would The total

or is P142 require both the Philippines and leaving a balance of P58 to P108, the United States to extend the The balance will go to cloping,

selective free trade also a major

expense, and to other GATT children's arrangement to

school expenses, member countries.

transportation, medion! bills, This aspect of the proposed cigarettes, recreation such as the selective pact will be looked cinema, and possibly a

gambling. into on Thursday by a technical

The average family can afford estom tre of

The

National

to buy only a little meat or Economic

Council. However,

be pork, usually on Sundays. generi application may avoided if two-thirds of the costs P2.80 and kilogra GATT countries approve Philip-

other meat costs between P Stator

scicclive and F5, depending on pine-United

the quality. Eggs are a prohibitive item. They cost P.20 (ten U. S. cents) each, but if bought by the dozen at the market they may be had ́for P2 or $1 a dozen. Before the be had for as low as two and a half centavos cách.

trade-France-Presse.

A

One is

cellor at the Exchequer, will an- nounce steps to make Sterling convertible. If this were one then the dollar prices for Ster- 349ling it is assumed, would at leasi

temporarily fall.

HK Bink XD 1499 1103 The Asa..........

140

120

139

i

Canton Union

200

2020 1

740 165

100

DOCKS, ETC. K Whart N. Pt. Whart Dock Provident... Wheekek...

LAND, ETC.

HK Hotel XD 6.60 74% IK Land Shat Land.

Humphreys

Realty st

UTILITIES

C. Light (0)

C Light (N) Electric XD Telephone ***

INDUSTRIALS

1500 43

1.00

13XD

1000

200

107) —17, 7400

2000

-17.

18.90

200

17.

68.20 500

200 * 5.0

315

There has been demand for dollar stocks, especially for U.S. Government short-term bonds whose dollar price scarcely moves. If convertibility becomes a fact and Sterling falls in terms at dollars, then the Sterling price of these US. Government bonds would

today's rise, netting prudent, well-to-do Englishman a nice little tax-free profit,

AT A PREMIUM

All these dollar-stocks have.u scarcity value here and

stand

at a premium over the equiva-

100 020 land of their price in New York.

545 20-40 10000 166

10 1036

Comment... Hope XD... 20%

STORES, ETC.

Dairy ***** 181

Watson XD..

COTTONS

Ewo MISCELLANEOUS 1K Cunziruotion

Yangisze....

3.40

rose

700 20.40 The premium Inst week

from 10 per cent to 14-1/2 per 500 15.76 cent.

Gold shares refused to respond to any of the forecasts involving the future

They of Sterling, 19 500 1934) have danced to so many wild D00184 theories that they seem com-

pletely played out.

24

2.70 1075 25

2000 6 2000 M

!

One of the interesting fea- tures has been the quiet exodus 3% out of Australian Government 4.03 bonds. Australian 3-1/3 per cent 1861-65 bonds huve fallen E1-1/2 In the past fortnight 02-1/4 compared with last year's Japanese bonds were active but faced plenty of selling. Most of them closed last week un- changed,

br 1930' goined £1-1/2 to 2122-14 which is new high for this year.

Food Prices high af 103.

kilogram (2.2 pounds) of park In America

producers a fair rate by supple Responsible Forggs could

Under lite Dutch Government incentive scheme Dutch im-meniling payments out of reserves,

porters are able to gain a profit even

they sell silk imported Japan live from

per cent lower than the importing price, because of the 10 per bounty.

sent

Ministry officials are arduous- ly working out measures to cope with the Dutch reshipment business, since it will certainly affect the nation's direct exports of silk to the United States.

The Ministry, however, has

found counter the Dutch

not

the

any incasure

practice.

necaesary,

world

should values tall much below their own current purchasing pricts.

London Express Service.

Sharp Fall

In Grains

some

Unemployment?

Washington, Mar. 10.

Materials The International Conference, set up by President Truman and Mr Clement Alice, was blamed for unemployment in the United States by Mr Martin, Republican Joseph

rader of the House of Repre- sentatives, today.

He is to have talks tomorrow with 70 Republican members of

the House.

Cigarettes (usually American; cost 90 centavos ($0.45) a park. United Press.

LONDON

MARKET

TIN

May Decline

Washington, Mar. 5.

The averago family's grocery bill should drop in the next few months but there sury

of knowing

is

much.

nu

CX-

не

how | Government officials sald to

day.

Agriculture Department

food supplies perts suld increasing because of seasonal factors. Cattle shipments ១. above last year's level and are still Increasing while milk, bufter and cheese should be more plentiful soon.

German issues were weaker and Mining shares completely idle-United Press.

Buying Rush

On New York

Cotton Market

New York, Mar, 10. Colton futures were firm in With food supplies advancing early deatings today as a rushi farm prices can be exported to of London, Mar. 10.

buying ermmission house The Prices of tin were erratic.

skid below present levels.

and short covering found offer- Gains extended Prices big question is how much of the ings limited. 40 tons, Turnover was closed at wie end of the official decrease will Alter down to retail to about $2.50 a bale, paced by

The dermand for

naw сгор inorning session as follows:- Spot tin, buyers

months

Prices reacted some- Spot tin, sellers

Bry Di Agriculture Charles what from the day's highs on Business done at

08015-080 F.

Brannan recently Senate

002 123

Chlengo, Mar. 10. After an early bulge, which Some Ministry officials suggest sent prices ahead as much as a

settled back adoption of a price check cent, feed grains ystem for exports of silk to quickly on the Board of Trade Holland, but this involves the today. They came back to far

"We must have full knowledge complicated procedure of adding that

deliveries sanle of the facts if we are to make Three-months tit, buyers 970 ullic to the list of lleence- under Saturday's close."

cclain that there is no injustice Three-months in, sellers 980

Business done at

97714 under the Items

The initial required

upturns

American in feed

werkers," Mr Settlement

382 Jaited Press. fed export trade control ordinance.

commission. Martin said.-Reuter. grains,

by The Ministry of International house buying, found no reflec Trade and Industry fears that lon in wheat. The bread Sterling Aren countries, incercat was barely steady at the cluding Britain, may follow start. As the sexston developed, the Dutch prictico by taking it 100 zee back. Rye showed advantage of the current do

Independent some clining value of the Pound early. Sterling-France-Presso,

Jap Export

Statistics

Tokyo, Mar. 10: The Trade Ministry revealed

today that export validations for the month of February declined almost $20,000,000 from the pre- vious month.

The February total of export contracts approved by the Trade Ministry was $108,026,000.

The decline occurred in spite

with dollar countries.

firmness

Wheat near the end of the first hour was 310 cent

lower, Murch $2,57,

Com was unchanged

to

higher. May $1.84%.

Oals were 5% lower

to

1/2

higher. March $87.

Soybeans were unchanged to cent lower. March $2,01% Associated Press.

Plans Pakistan

For Cotton

•

US Unions Reject

Red Invitation

Washington, Mar. 10,

levels.

Ometals noted

the

that Secrez-

told profi-taking.

CUTİNADLANE"

"THLUWAIT"

*STU1A7

„NIVÆISSION,

SAILINGS

5. Tichy

Mar 10th

TH

Tanga, Zas-

Singapore, Maurilga.

zuar, Bar-en-Kainan, 8. Attlen, 48. America'

Skipare, Bjakarta,

Gúrabala & Macar

Janon

Staalla, Singapore, Mauritium,

5. Afelia, & 9, America Dakarta, 1 Bredon,

Muralla A

MAKASSAR"

"TJIKAMVER" ·

Mar. 201 Alar. And

Mar. 27th

"TUWANGI"

Dr

2nd

Kingapore,

"EASTWAY"

Apr.

4th

"TASMAN"

Apr.

11

"STRAAT ROENDA" Apr.

9th

TJIBODAS

ኢቦ፣ .

"TIHLUWAN"

AKT.

IGIN

"TEGELBERG" "STRAAT

MAKASSAR”

"TARMAN"

TJIWANGI"

*TIPONDOK”.

**TJILUWAH"

"TEGELDERG"

TJIKAMPEK"

"THIWANGI"

"TJILUWAII"

"TJLUWAI"

"SINAAT

MAKARBAR" "TJIWANGI"

"TABMAN"

Apr. 25th Npr. 23:

Apr. le May Zd

May XTIL

May, 15th

May 17th

May 27th

June 2nd June 2014

June 10th

Maraskar

Semarang,

jakarta, Semarang.

Surabata & Macassar

Singapore, Penang & Balawan Doll Зарад

Manila, Shogapore,, &

#. Africa 'jajakarta, Turebon, Brottany,

Surabala de Maramar

singapore, Bjakarta, ・ Semarang,

Nurabala & Macassar

Japan

Manila, Blagajte.-Mauritium, E. & M.

Africa * 8. Amerier Singapore, Penang & Belawan Doll Singapore, Jakarta, Beniatka,

Nurabula & Macausat jijakarta, Titration. SEAIRIAUS

Hurabala & Macassar

Rincepute, Djakarta, Semarang,

Strakātu & Maraskur

Stanila, Singapore,

Maurielu,

E. & S. Africa & 8. America Djakarta, TJirebon, Semarang.

Surabala & Macassar.

• Japan

Singapore.

Sakata. Senterang,

Murahata & Masankar Singapore, 1Jjakuria, Semarang.

Burbála & Macantar

ARRIVALS

Mar. 17th Mar. th

Mar, 201

Apr.

Мисалкат

From

Burabala,

Djakarta & Singapor

5. America,

Semarang,

Africa,

Semarang,

Mauritius, Singapore & Manila,

Surabala,

MARKANT,

Djaka & Blugaporr

Penang, Belawan Dell, Palembang,

Djakarta & Singapore

General Agents,

HOLLAND EAST ASIA, LINE

طار

SAILINGS TO EUROPE

“ARENDBEERK"

Apt,

7th

"KILLBRECHT"

May

“AAOTENENK” **BLITAR"

Jana

71

July

SAILING FROM EUROPE

"KIELDRECHT"

Bailed MaY.

Salle Rotterdam

Sea

Arrives

Apr, 5th

May

2nd

Hongkong

Apr. 10th May 10th June

7th

May

2hh

July

Vale

zad

AGE.

7th

TO 8017

"AAOTEKERK"

peITAR" "HOOGKLDE”

"ARENDSKERK“

LUGHTEROADS GARUSTUSED*

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "TREIN MAERSK"

M.S. "PETER MAERSK" M.S. "NICOLINE MAERSK"

ARRIVALS FROM U.S.A.

M.S. "NICOLINE MAERSK"

M.S. "SALLY MAERSK"

M.S. "OLUF MAERSK"

Mar. 16 Apr. Apr. 16 j

2

Mar. 16

Mur. 26

Mar. 27

For Freight and Further Particulars please apply to:-

AGENTS:

JERSEN &

Pedder Building.

per Interest in the new crop monha PENINSULAR

WPS based partly on price con- average sideration snd expectations of a

80 that cent of US$37 rise in the

a

the annual cost of

market WES American to higher marketing costs

dus small cotton carryover at he

and

end of the current season 0.1 bigger profit margins by whole-July 31. There were 95 Marz salers and retailers.

transferable notices Issued One expert said there la some New York this morning, but it feeling that current pork prices falfed to bring selling pressure do not reflect in full the recent into that delivery. leading decline in live hog prices of spot firm promptly stopped the

he though

conceded

there March notices Issued since firs: probably has been some increase notice duy,

in marketing charges. Markat

October

Futures closed $1.00 to $2.05 ing costs are expected to rico a bate higher than the previous

this year more sharply

than close. they did in 1952 particularly | May If the Inter-state- The American Federation of Labour (AFL) Commission approves a pending December

Commerce July and Congress of Industrial Organisations (CIO)raliroad request for a rate which March

would boost, rutes 15 per cent May July said yesterday they are not going to attend the above Jast year. United Press. trade conference in Moscow from April 8 to 10.

30,18-80

$21.60-01

30.31-24

36.04 nominal

39.03 35,70-78

in

Exchange

Rates

34.37 naminal Middling spot, 41.10 nomlari, up

Asociated Fress. NEW ORLEANS MARKET

New Orleans, Mar. 10. Catton futures closed steady, 'Business was done in the Tocal $1.25 to $1.95 a bolo higher,

markot 11 | March

40.63 19.7880 May In July

100 October

20.00 1.75 15.15

Associated Press.

"We herewith unequivocally Mr Green made public . rejoel your invitation," APL letter to Mr Chambeiron, President William Green wrote which he said in part: Robert Chambeiron of Den- "It is, our firmest conviction ravit; General Secretary of the that every American business- unofficial exchange committes which issued

thomation

backer, cecnomist, labour morning at the following rates:- 5.10

U.S. dollar (per #1) ... Invitations.

and

industrial Sterling note per £11 Honry Fleisher, Publicity corperation should boycott: the Indonesia guilders (per 1003

S'am tteals (per 100) Director of the CIO, told #re Moscow meeting

Sittgapore (8trulta) porter that the organisation has "It is not A conference to TIC plastres (per, 100) recolved a number kit invita- promote normal economic and tions und "we're filing them peaceful relations among the all in the wastebasket."

Tiens of the world. Instead, t The announced purpose of is a transparent trick by the the Acasiona is to promote Soviet regime to

destalse

Karachi, Mar. 10.

nearly Pakistan hopes to double the annual cotton yleld of a $28,293,000 export trade in the next five years through improved planting and cul- Thio major cause for the drop tivation methods. was the temporary Japanese Gov- The Central Cotton Com- crament, policy <f discouraging mittee's meeting t Kirschl exports to Sterling countries. approved a five-year cotton was replaced this month by development scheme for the policy of balanced Stering trade, development of better agricul The result was a $4,300,000 drop ture methods, pest con- ncmal trade

and agricultural extension in.export validations to Sterling trol countries from January.

services, involving an

It

totalenatians of the world.. andar

The tatak Tobruary, validation expenditure of 4,400,000 rupees, to the Sterling blog was $5-The scheme is expected to in 667,000, Contracts with open ac- creasd the present annual colton count countries also declined by crop yield average from 1,200,000 811,000,000 to $20,706,000,--United to 2,000,000, bales per year.--

·Press.

United Press, -

relations among

business, economy.

.

to

ww

Rico Import Talks

80.87 HD 30.23-

JAPANESE BONDS

London, Mar. 10. Mansa, Mar 10. Japanese bonds

of 1800) Negotiations for Philippine of U.S. number

importation of rice from Thai "B" (, of 1010). labour or The AFL spurns, the idea of land will be renamed this week; "C" (58 of 1007) culture and gantes fons have been invflodi

as utial with the It was learned from the "D" (58-61-1934)

business

100 7734

1214 00% Unitad Press.

A few Individual businessmen enemies of human freedom whe Nationalitico and Cern Cor" (649, of 1934) from this country have seek to conquer the world,poration this morning-France- Consola incumed they will attend.

Asociated Press,***

Prosso.

NOS SEPARAB

CO.

Tel: Nos. 30066-9. I

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CORFU"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 14th March at 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden und Port Said.

ALL passengers baggage must be Rent to the Hongkong & Kowloon Wharf Co.'s Godown at NO. 2 GATE, CANTON ROAD ENTRANCE BY NOON on THURSDAY the 18th March, 1952.

SPECIAL NOTE: With the exception of hand packages. carried by passengers themselves, ALL BAGGAGE must pass through tho Wharf Co.'s Godown for loading on board by ship's slings only;

EMBARKATION: Will take place on FRIDAY, the 14th March, 1052 between 9.30 am. and 11.00 a.m.