1952-03-14 — Page 9

MESSAGERIES M

THE CHINA MAIL, FRIDAY, MARCH 14, 1952.

MARITIMES CRITICISM OF MARINE

INSURANCE IN BRITAIN; RATES SAID TOO

tete Paving

"LA MARSEILLAISE" Mar 31 Apr. 1 "MAPLE HILL"

M

Ontward for

Yokohama & Kobe

Nomeward For

CApr. '

1"MORTAIN"

+"ZELIDJA"

"LA MARSEILLAISE”

"BEAUVAIS"

star. Apr, 4 Apr. May

15

Mar. 14 N, Africa & Emoye Apr 5 N. Atrica & Europe 11 Apr. 12 Maceoilies via Manua 1 May 2 N. Africa ⭑ Kuropa

Genoa,

† freight for Saigon, Alexandria, Tunis,

Marseilles, Algiers, Oran, Tangler, Casablanca, Huvre, Dunkirk, Antwerp & Rotterdam,

Bubject To Change Without Notice.

CIE DES MESSAGERIEs maritimES

P.O. Box 59, Hongkong

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

Decline In Jap Exports To Sterling Area?

Tokyo, Mar. 13,

A gradual decline in Japanese exports to the Sterling Area is likely to follow the overall tighten- ing of import restrictions by the United Kingdom.

Japan, to cope with an expected new British trade offensive, will have to make an extensive and basic re-study of its economic policy, Government* circles said.

She would have to-push-ahead more vigorously, with policies to improve production methods, and lower prices.

TRADING IN develop new economic resources

NY COTTON Ministry

!!

International Trude and Industry officials feared that Japan might lose her Sterling area markets it her

IRREGULAR present polley of restricting

New York, Mar 13. Cotton futures were irregular today, with activity centring on nearby March futures in which evening-up operations were extensive or to its expiration at noon.

95

exports for Sterling was main- tained,

Government and banking cir-

eles perceived in the Chancel- for of the Exchequer, Mr R. A. Butler's budget speech Britain's Arm determination

not devalue

the Found Sterling, Bank of Japan officials paid particular attention to the in- crease in the bank rate of in- ferest. They believed this step would check inflationary effects caused by the reduction in im- ports.

The final trading range for March was 40.15 cents to 40.55 cents a pound. In the trade, it was estimated that around 225 March transferable notices were Issued at New York which were shid to be promptly stopped by

lending

After spot firm. March expired, the balance of the market

New railed on

and Orleans buying

short- covering and then ensed same- what on local selling.

is

In the

the export situation, there were reperts that a large cotton please credit to France

Some of the demand the old crap montha was predicated ca the belief that the spot cation supply wit be Night towards the end of the curent, season,

(31

Futures closed 20 to 75 cents a bale lower than the previous

close.

March

May

July

October

December

March (163

May

July

40.15-55

39.73

38.76-78

35,07

35.00-73

35,64

35,43 nominAJ 35,05

A spot 41.65 nominal, of B.

--Arsuciated Press.

NEW ORLEANS MARKET

New Orleans, Mar, 13. Cotton futures closed 15 cents

to $1,50 cents a bale lower.

March

May

July

October

Ceylon Slash In Imports?

Colombo, Mar. 13. A usually well-informed source said today that Ceylon may further slash Imports from dollar and hard currency countries to contribute to the Common- wealth's joint effort to ease the Sterling --Area's difficulties.

The Government is now examining the extent to which further cuts can be made,

Financial circles here Bald that the increase in rate bank the British would not affect Ceyloti'n economy though certainly this country will have to share adversely the fall in Sterling value of securities.-Reuter,

the

HONGKONG SHARE MARKET

LOW

Liverpool.

At the annual meeting in Liverpool of the Liverpool Underwriters' Association, Mr T. H. Blackham, the retiring chairman, referred to hull and cargo insurance.

As regards the former, he mentioned that the "chief event" last year was the increase of 10 per cent applied to all renewals, and suggested that this "was only intended to be a token ad- vance."

-It was, he saith, a preliminary gesture that would give the Joint Hull Committee en opportunity of assessing the actual and pros- pective increase in the cost of hull repairs."

Foreign Exchanges

In NY

Certainly in the light of recent statistics of casualties and conts the inadequacy of present rates? would seem to be established but a further increase in hull premiums should be avoided it at all practicable, or, if not, con- fined to the absolute minimum Canada compatible with

a reasonable England-oficial return for underwriters' risks, the Liverpool Journal of says Commerce.

New Zealand South Africa Belgium Denmark France

►

New York. Mar, 13.

As far as cargo insurance is concerned, there is evidence that the law of supply and demand has been re-estalilisher; in fact the pendulum. appears to have West Germany swung a little too far from the land

Italy point of view of many engaged Norway

the nuring insurance Portugal

Spain business.

UB$1.00-7/16

2.70-7/18

2.39 bid.

NOTICE

THE "STAR" FERRY, COMPANY, LIMITED.

Notice to Shareholders

ORDINARY GENERAL

MEETING

Royal InterOCEAN

*TJRABANK"

"T21LUWAR" -BOISSEVAIN”.

MAKARBAR";

BAILINGS F

Afar. 14in

Mar: - - 16424- May. 22nd Mar. Zuh

*Mar. 24th

Apr. Ind

NOTICE is hereby given "STRAAT that the Fiftieth OrdinaryJIKANYEK Yearly Meeting of the #TJIWANGI"' Members of the Company will be held at the Office of "4" Messrs. Jardine, Matheson & "STRAAT BOENDA” ADF,

“TJIDODAS" Atreet, Ltd., Pedder Co.. Hong Kong, on Friday, 28th | "TJILUWAN"

TASIAN"

March, 1952, at Noon for the "TEGELBERG":

following purposes:

"TABMANP

→TIWANGI"

1. To receive and consider "STRAAT

the Report of the Direc-"TIFONDOR" tors and the Statement of Accounts for the year unded 31st

December,

1951, and the Auditors' Report thereon.

2. To sanction a dividend in respect of the year 1951.

3. To elect Directors,

4. To appoint Auditors.

CLOSING OF TRANSFER BOOKS Notice is also given that the Transfer Booka and Register of Members of the Company will be closed from 15th March, 1952, to 28th March, 1952, both daya inclusive.

Ape, 011,

Apr.. h

Dit Apr. **s

Apr. 15h

Apr. 2513 Apr. 280

To

LINES

Singapore, Mauritius, Tanga,- Zan- "giwwe, · Baz-e9-Balsam, W. “Atries; .& 8. America

dentarang,

Hingapore. Ijakarta.

Muralista de MACKLERE Manka, Singapore, ata melius,

5. Attica & S. America

Japan-

* DJAMRYER; ~ Trebon,

Surabala & Machinar

Seman

Storsport. Djakarta, Kekarang,

Surabala & Macamint

Kingapuze, Jakarta & Belawati belt

Japan

Maklisningapore,, & 8.. Afric

Djakartz

Tjirebon,

Nurabala & Macawear

singapore,

Djakarta,

-Sucabal & lacassar

Зарда

Nomacang,

Reinrang.

Singapore, Penang & Delawan Doll Bingapore, bjakarta, КОМАГАНЕ,

13 Mürabala di Mučníkar

Manila, Singapore, Maurlies. 5. Afzlen

* 8. America

Jakarta,

jhon,

Rúrabula & Macassar Kingapore.

kajakarta,

Süerbala A" Marasser

Djakarta:

Semarang,

Sentang

rlfrðua. Semarang.

Surabala & Macassar.

Japan

May Ind

May BIL

MAKABBAR"

Máy BIL

"TJILUWAB"

May 10th

**TIKAMPER

"HUYS" #TJIWANGI

"TEGELBERG"

Stay 27th

June 2nd

June

Singapore, 2nd.

June Hil

June 13th

June 18th

ARRIVALS

"THBŪDAS” "TJILUWAR

"STRAAT

MAKASSART” “TJIWANGI"

PASMAN"

Mar. 23rd.

Bjultartar.

Surabala desôfacassar

Singapore,

Manlia,

Semarang,

Maurkitun,

E. & S. Africa & X. America Djakarta. YJgho1. Seorang.

Buradala Singapore,

& Macastar Djakarta.

„Aurabala A Macassar

From

*

Semarang,

Afelcă,

V. &

H. America,

Mauritius, Singapore & Manila.

Semarang, Surabala,

Diakarta & Hingadore

Palembang.

Mar. 29th

MACARERS,

Apr. 7th

Penang. Belawan Dell,

Djakarta & Singapure

**TINUWAİt"

Apr. 13th

Macassar. Surabala, Semarang..

Ujakarta & Singapore

General Agents,

HOLLAND EAST ASIA LINE

unofficial

2.39 asked

11

..

30-day futures 2.781

2.77 sö-day futureS

Australia

*.2314

2,700

2.70%

.D198

2455

.0026-0/10

4.20

2036

.1403

.0370

-0769

SAILINGS TO EUROPE

Sweden Switzerland

Egypt

0236

2107

By Order of the Board

KARENDEKEERM“

Apr.

21h

MIDDLE EAST

4

of Directors.

*KIELDRECHT"

MAY

2.8812

"AAGTEKERK”

June

7ch

.63126

G. B. S. THOMSON,

*ELIŢAB”

July

7th

2.31

4375

Secretary.

BAILING FROM EUROPE

Salle Rotterdam

Arrives Hongkong

LATIN AMERICA

.0725 ,0500

Hongkong, 5th March, 1952.

**KIELDBECET"

Balled. Mar,

5th

Apr.

10th

Apr:

*5th

Atay 10th

May

2nd

June

7th

.0115

May

28th

July

441

June

2nd

Aug. Jits

1.00

HEAVY COMPETITION Intense

competition, from a From Our Correspondent)

greatly expanded world market, fran Business done on the Stock his, as Mr Blackham remarked, frag

Turkey rates below reasonable Exchange this morning amount- forces ed to $382,702, Noon quotations levels, and, despite wider cover

Argentina Brazil and the morning's transactions: given by underwriters, "man

rates are lower than in 1939." Dolivia

From

the standpoint of the Chile insured this would appear to be 46 1475 a satisfactory state of affairs; it fexico

could hardly be otherwise at a Peru

Uruguay time when the costs of all goods Venezuela and services are increasing.

SHARES BUYERS SELLERS SALES

BANKS

HK Bank XD -Eat-Asia -140

INSURANCES

Cantun Union

SHIPPING

La Nav

DOCKS, ETC

K Whart

1403

ZEU

740 760

1.70

103

N. P. Wharf 6% Deck

16 17 Provident XD 11 Whectuck

... 4454

LAND, ETC.

But it is

Columbia Cuba

Pakistan

It is not satisfactory from India the underwriters' point of view Hangitong since transport hazards have indongala certainly not declined compare Singapore with pre-war, and consequently Japan do not justify lower rates than obtained in those days,

At the same time it is reason-

43 800 ₫ 4415 able to suppose that some under- writers are making these rates

HK Hofel XD 1.70 - 9 500 7.18 pay, even though they may nai,

1000 720 appear to be commensurate with 1000 ut 7.30 the risks, in the opinion of 1000 7.40 others.

2000'

ta

500 @ 719 4500 Gu 794

UK Lond

UTILITIES

60 0144

FILM XD Peak Tram

15)

15.40 16,05

24

104

However, they were appre- hensive that Japan's textile and sundry goods exports would suffer as a result of the new Commonwealth drive to set up other than exports in areas Western Europe.

Government and business.cir- cles were also concerned over a statement on Tuesday by the SCAP economie and selentle section chief, General Marqunt, that Japan would find it dim- cult to obtain foreign capital in future.

}

MUST BE JUSTIFIED

General Marquat said that economic Justification must provide a basis for any type of U.S. Government

or private Joans to Japan.

Star Ferry XU

IMPROVED DESIGN The chairman recalled his "mixed feelings" when, in 1945, he read articles stating that ex- perience gained during the war would lead to the production of ships of improved design with

2003

FAR EAST

2003

2050

3015

270

Small

In

..

340 yen to US$1

United Press,

Gains Wall St.

New York, Mar. 18. The stock market made quiet progress with steels showing the way.

The gains throughout the lat went to between 1 and 2 points in active areas, Losses went a

1 10 8.30 8.50 100 8.40 such modern aids to safe naviga-little past a paint..

1000 & B.35 tion

that recidents would $340 6.30

40 5.70 practically disappear. C. Light (N) 6.65 571

15008.co Electric XD 2074 21 700 @ 21 Tel-phone 16.10 17 1000 10.50 200 16.40

X 14.10 14 500 & 14.25

INDUSTRIALS

Cement STORES, ETC.

Japanese requests for loans had been in too general terms and had not been justlited in specifie economic

he terms,

sold.

Dairy

vation X

10 1700 44 19

Fire detection and suppression, had been per- it was claimed, fected, and hold ventilation and.

the latest mechanical methods of

dealing with cargo would ensure clean

delivery.

"It seemed to me," Mr Black- ham added. "that underwriters would no longer be needed, and I lost sleep imagining that I 'would have to seek other em- 2.35 800 42ployment."

1000 2.40 |

23914

L. Crawford

COTTONS

Bu

MISCELLANEOUS

Entertain-

Yangtze

4.0$

4000 i 1000 **

3

Business came to an estimat- ed 1,200,000 shares as compared with 1,320,000 shares traded on Wednesday.

Dow Jones averages: Industrials

Rails

Utilities

204.24.

88.84. 49.06. Associated Press,

LONDON TIN MARKET

MOST PROFITABLE No doubt he had in mind

London, Mar. 13. 250 181iterature issued by the manu-

Prices cf tin were steady 4.05 [acturers of the equipment con-

this

turnover cerned, or articles written by only 70 tons et which 30 tons

morning with people with optimistic imagina- tions-people who considered, for weio ft cash. example, that the advent uf radar would mean the reduction the oficial meraing session as of strandings and collisions to vanishing point.

The Rubber

Markets

Singapore, Mar. 13. Prices of rubber futures Meanwhile a spolcesman for closed today as follows:- the Finance Ministry said that Mr Butler's budget speech is not likely to affect Jupan to any serious extorsi.

Igh Low Clos. 40.54 40.29 40.25. 30.01 30.60 30.71-72, 33.02 340

33.75-77 30.10 35,80 25.00. 35.82

35.68 bid, 35.77 25.00 35.54 bid, not Spot catton closed 20 cents a bale lower.

December

March

15.03

Middling 30.00. Associated Press.

Firmness In Grain Prices

Chicago, Mar. 13, A firm tone prevailed in grains en the Board of Trade today even though thero wan no great buying rush.

Toward the close the March wheat contrast sonk below the finish but deferred previous months held up well. March soybeans at one time got over the $3 mark, only to slip back. Wheat closed lower to higher;.com - higher; onts 1/4 to one cont higher; rye lower to 14 higher; soybeans 34 lower to higher. Wheat

Bach... May...

July

deptember

December

Soybean

March

May

Judy

Beptember

Dals March

November

He believed the Pound would be devalued becauso would elther compel the British to curtail their living expenses, already at an austerity level, or to abandon their rearmament programme.

Number 1 rubber, in

Streita cents per April

1121-15

May

100-10% June Number 2 rubber, April ... 10015-110 Number 3 rubber, April Number rubber, Apr 101-102 Spot rubber, unbaled

Black crepe No. 1 pale erepe

112-117" 80-867 134-137

United Pro

NEW YORK - MARKET

"At the same time," the highly- "Mr placed spokesman ... said, Butler's speech has made no change whatever in the fast that ; totalling 38 contracts, Japan must adopt some, measure September 40 straighten out her excessive Pound holdings altuation unless the position of the Found should Improve."-France-Presse.

New York, Mar. 13. Prices of rubber futures clored

50 to 70 points higher with sales

Less Sugar

For Japan

New York, Mor. 13.. Jepantse raw sugar importa for the 1031-82 season will ap- proximants 440,000 short tone, a drop at 229,080 tons from the 089,000 tona imported huskyeur, B. W. Dyer and Compano, sugar broken and -- egondinlate, 781-60% reported today.

Consumption is

0.13-821%

2494

MOBIL

·2:00-16:14

Oktober November December January (1933; February Marcil April May Jurie

33,75

33.14 nominal 38 nominal

This has not transpired, and on our part we did not expect that

would,

ras it

Perhaps it is without significance that many insurance companies, according to their annual returns, enjoyed n mast profitable period at the time when world trade was at. very low ebb, viz., during the depression years of the '30's.

Recovery

On

London Exchange

London, Mar. 13. Government bonds staged a

Trices closed at the end of

Follows:-

Spai tin, buyers Spot tis, sellers Thusiness done at Three-mentha fin,

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

07732

9T0

07719

0771L

010

971 15

B77!

-United Press.

Ceylon-Japan Agreement

+

Colombo, Mar, 19. Ceylon and Japan have con- cluded a trade wartement follow- ing joint talks here but neither of the delegations has disclosed details.

The agreement was announced yesterday by Ceylon's Minister of Commerce and Trade, Mr H. W. Amarasuriya,

Mr Shinsuke Hori, of the 22.00 nominal recovery on the London Stock Japanese Fordgn Office, who 13.75 nominal Exchange today from a stump toole part in the trade talks hore, 3150 mominal 31.21 aromina precipitated by the new Budget, left for Tokyo a week ago with 34.75 nominal

At the close the Government a copy of the draft agreement 40 30.25 nacinal isques were 4 to 4 higher than consult his Government-Reuter. United Press. the closing prices Wednesday, when they were sharply marked

20,35 sominai

LONDON MARKET

Londes, Mar. 13. Prices of rubber tuturés closed

today is follows:-

Number 1 rubber. in pence per 15. 'abril May June April/June July/September October/

i-United PreER,

down in response to the increas New York Sugar

in the bank loan from, 2%.

Domestic

sent,

Futures

New York, Mar. 13. Domestic curar Jútures Nó, Q losea 1 to 3 lower,

industrial shares mostly reduced or recovered early losses prompted by the Budget's new 20 per cent tax on

xcass profits,

The Financial Times' daily andox

of London locks was May [July 100.0-now 1981-33 - Low, MI | September 10.4..

November

World sugar, futures: No. 4. closed 1 to a lover.

expected Exchange Rates Japanese bonds

fall around 800,000 tons from the 40.000 tons used last year. Inventaries on Aug 31,1053 win be around 100,000 abort tam compared with about 100, 600 tons en hund at the same time last year, the report added.

United Press.

Burners was done in the local

:

Homela “exchange market morning, at the following rates:- 1.9 dollar, (per 81),

this

07

Birling nate, (dez 41)

ndeneila calidere (per 100)

30.00

WA(48 of 1090) "B" (fa. of, 1010)'

(8 of 10071) VD (86, of 1094)

(5345, of 1934). Consols Ascelatod Press and 1530 | Press.

70. 40

112

Mar

79% July

125

United

March

|

Biom Uzall (uor:100);

huryJporo (Straits)

$112 parties (per 100)

8.63 hid

6.63 hid 6:00 DIA

4.32 bli

4,38 14:

NOTICE

UNIVERSITY OF

HONG KONG

1. Applications are inylted for the post of Secretary to the Registrar.

2. The salary is on the scale month, 3600×25-725 .per with temporary and variable high cost of living allowance. The post carries with it membership of the University Clerical Staff Provident Fund.

"AAGTEKERK” "BLITAR" "BOOGKERK"

“ARENUSKERE"

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. MS.

"PETER MAERSK"

“NICOLINE MAERSK"

*

Calling Vancouver.

ad-

MS. "NICOLINE MAERSK”

MS. "SALLY MAERSK"

M.S. "OLUF MAERSK”.

3. Qualifications. Applicants should preferably be under 35 years of age, and should be first-class stenographers, Ample experience of office routines and ability to handle routine correspon- dence and to anaume re- sponsibility are required. A. knowledge of Committee work would be an

The duties will vantage. Include those of Confiden. tial Secretary and will require tact, discretion, and a readiness to work out of office hours from Lime to time. A good education and a complete command of English aro essential.

4. Applications, typed in triplicate and accompanied by copies of testimonials,

Bent to should be Registrar, University Hong Kong, before March 24, 1852,

the of

B. MELLOR,

Registrar.

NOTICE TO CONSIGNEES

هست

MARISK LINĖ

/ "ELA MAERSK“ having arrived from Karachi and l'orts of on. Consignees of Cargo are hereby notified that 1116, woode are being landed and placed at their risk and expenst into the Hong- kong & Kowloon Wharf Godown Company's godowns, at Kowloon. where delivery may be obtained o soon as goods are landed

ד ..

Optional cando will not be landed hora, ale nolice has been given 48 hours ofjoy in vessere arrival, but carried of ben part to sloth to the final port of call to which the option extends

No clakna wit be admitted, stier the Goode have lest the Godowas and a goods remaliing Uhdaßvored atter, the Kist March, 1855, will be drject to rent.

All brokem, thafed, and damaerd Goods are to be left in the Godowns, where, they will be examined, on 120111 March, 1997, ne 19 am by our

Surveyorą

Goddard &

To comply with the General Bond- ed Warehouse dégulations, cost meet must tavis å levencia Qafter, in al tendano, when, damaged, "datjable - goods are exniainda.

All cialis hurt reach us before CHO E ALEY, DELT 195%, or they will not.

No: Insuranes will be difędis:

330 nominal Hongkong, fath March, 19522" Baw ruger spot' 6 15 modi]ña),—AS;ɔ~ elated · Press.

ARRIVALS FROM US.A.

Mar. 16

Apr.

Apr.

16

Mar.

16 Mar. 25

Mar. 30

For Freight and Further Particulars. please apply to:-

AGENTS:

& CO.

JERSEN &

Pedder Building.

JUST ARRIVED

Tel: Nos, 80060-9.

1952

International Trade Directory

Didat-Bottin Co., Ltd.

155th year of Publication

OVER 2000 PAGES, WEIGHT OVER TEN POUNDS. ONE DIRECTORY IN THREE LANGUAGES:-

English French ⚫ Spanish

This world-wide Directory is an indispensable guide for all firms engaged in export or import trade. The Directory contains:

•

Lists of Manufacturers, Wholesalers. Importers throughout the world, arranged by trades and countries.

General information on all countries.

Maps, Miscellaneous data, etc., etc.

Obtainable from

THE INTERNATIONAL TRADE JOURNAL

LIMITED

·Room 62, Printing House : ' 16. Duddell Btreet, Hong Kong ... Talg: 36030 & 25037. ask for Ext: A Solo Distributors: TERRY ADVERTISING AGENCY

FREE LISTING — Firms whose names have not been: listed under the HÒNG KONG SECTION ɔře requested. to send in their entries for 1953 Edition, 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: