1952-03-18 — Page 9

THE CHINA MAIL, TUESDAY, MARCH 18, 1952.

MESSAGERIES MARITIMES NERVOUSNESS IN INDIA

MSM

Arriving Leaving

"La MarsEILLAISE”

"MAPLE HILL"

*Mar. 31

Apt.. 1

Apr.

†"ZELIDJA"

Apr.

+"BEAUVAIS"

Apr. 31 May I

Apr Apr. MNY

"LA MARSEILLAISE”

Outward For

Yokohama & Kab.

Homeward For

N. Africa & Europe 12 Marseilles via Manila 2 N. Africa & Europa

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

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Rox 63, Hongkong

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

TALKS

Warning

RUN INTO By Bank

SNAGS

Japan-Nationalist Trade Agreement

Tokyo, Mar. 17. Wide discrepancies of view dominate the current

a new

negotiations between Japan and Nationalist China in Tokyo for

trade according agreement, reliable Government sources. agreement between the two nations expired

The last trade

to

last July and has been extended indefinitely since then.

---- Negotiations fiave been held in

Tokyo

the between

Chinese diplomatic mission here and the Japanese Government,

view

Major differences of between the two parties are:

1: Japan Insists on dividing

Governor

EXCHANGE TAX REDUCTION

Manila, Mar. 17. The Central Bank Govern-

or, Miguel Caaderno, today strongly opposed a bill reduce the 17 per cent tux on purchases of foreign ex- it change, warning that would

to decrease further the country's dollar

reserves.

serve

Britain And Asia Aid

London, Mar. 17. Britain i expected 10 reaffirm her. full support of the Colombo Plan for the economic development of South and South-East Aala at a meeting of the Plan's Consultative Com- mittee from March 24. to 31 at Karachi, capital of Pakistan,

of

The Marquess of Read- ing, Under-Secretary State for Foreign Affairs, will leave by ale on Wed- nesday to attend the meet- Ing.-Reuter.

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning amount- ed to $338,354.40. Noon quota- tions and the morning's trun- Acctions: -

SHARES BUYERS HELERS SALES

BANKS

NK Bank Fast Asia INSURANCES

Canton Untun

HK Fire... SHIPPING

139

tu

Asia Nav DOCKS. ETC.

1.72%

K. Wharf.. Pock Provident XD

LAND,

Whew BTC

ભગવ

Mr Cuaderno testiñed at the House of Representatives-Ways and Means. Conmitire hearing on Congressman Danil: Romual- dez' bill to reduce the tax to 12% per cent.

The proposal hus the support goods to be traced between the of business interests.

The Bank Governor said the categories essential and non-proposed reduction would essential.

the loss of about 40,000,000 pesos

two

countries

lato

the

mean

*TİK lintel XD 7%

INK LAND XD Shal and.. Heality

UTILITIES

Tran XD

1. Tham (Ô)

38

104

30 k 1460

200 €

ה

OVER THE EMPIRE

CUTS IN

IN IMPORTS

Calcutta, Mar. 11. India's businessmen are growing increasingly nervous about the Commonwealth import restrictions. They fear that a new round of cuts will further attack their toppling money market.

*.Hundreds of thousands Sterling have been wiped out in the past week in the biggest financial slump since the great depression.

Bankruptcies are mounting as frenzied gold and commodity speculators try to disgorge hoarded stocks in the wake of plummetting prices.

New

and austerities in Britain, and factories

launch an would reduce British buying of economie and political crisis Indian commodities “and Induce | from which bnly the Communists benefit.-London Express fresh price falls. If these go will on at the present rate they will Service. threaten the stability of India's fnunces.

DUTIES REDUCED

The

New Delhi, Mar. 17. Ministry of Finance

SPEEDING

TROYAL INTEROcean Lives

"LOISSEVÄIN

"ТЛКАМРЕК"

"STILAAT. 1

MAKASSÁR” "TWANGr"

8A1LIN dlat

Mari.- 201h

Mar. 24th Apr. 2nd

Apr. 2nd

"VAN HEUTSZ"/ Apr. 516 *TARSIAN"

"STRAAT BOENDA" Apt.

"TJIBODAS"

*THUWAI

**TEGELDERO" "TABMAN "TJIWANGY"

"TIFONDOK"

"STRAAT

Apr. th

Stil Apr. 13th

Apr. 15th

Apr. 25th

- 281

May

Alay Ah

2nd

May Oth

May 16th

MAY 270

ne

THE FARM TIANGI"

"THPANAS"

2nd Juho 2nd

June STIL

June 131

June 16th

July and July

UP ON

Washington, Mar. 17. On a huge farm, near the announced a reduction of export little town of Gray Summit, duties as a result of constant Missouri, a livestock feed con-.

review of present market trends. ceru is busy introducing that

The Indian Government is understood to have prepared ar

take approuch 10 Britain to more jute, tea, manganese and cotton goods should it became necessary to save the rupee,

But stready

raw materials have fallen by at lens 50 pir -cent in recen weeks. Unreined sugar, which could hardly be bought at all six months ago, toony costs 5d per ib-the same as in 1939.

an

some

1

Catlon goods are down by 35 Der сеп with

estimated 100,000 bales of cloth still unroid in the warehouses.

Two marble palaces, a private aeroplane, half a dozen Rolls- Royces and Cadillacs and a 19 15 500 @ 17

amall mound of gold bars are on 1212

sale today at

· 100

givenway prices in Calcutta.

They

belong to one

Indian

44

2500 1500 2 7.60

7.50

40

.

15 13.30 400 63 13.30

1. Tram N 121) Star Ferry XD

2010 8.20

Electric

She calling for an overall '6$20,000,000) to the Government, is phone

trade volume of $154,000,000 involving $70,000,000 each for and non-essentia) essential

now

which would serve to reduce the dollar reserves further.

Theat

reserves

totalles $280,000,000 which he describe

reserves

DS

TOW

The Central Bank of

*XD 20.00

Cement XD Rope XD

883

100

10.50

14.20

1014

STONES, ETC.

Dairy

10

200

700

Watson XD COTTONS

Ewo

23

216

Food

Nationailst China seeks to

$80,000,000 worth export

im totalle: $355,000,000 at the end MISCELLA goods from Formosa and port $92,000,000 worth of goods of last year but decreased due to from Japan, leaving a favour-to a decline in exports and able balance of $6,000,000 Japan, Japa

Yangtze

1

for Increase In Imports.

Mr Cuaderno said the needs more income Government In order to raise counterpart funds for Mutual Security Ad-

ministration assistance,

of

Nationallat China desires to export 120,000 tons of rice in

for 300,000 tons return

from sulphate ammonium Japan white Japan insists she will not be able to export

Without the counterpart funds the Philippines would not get

300,000 tons because of domes-American aid allocations.

*tic demand-France-Presse.

The Rubber

Markets

London, Mar. 17. Prices of rubber futures elored today as followe

Number rubber, In pence

per 1

April

May

June

April/June July/September.. October/December

136

33-334

321-24

3315-33

302-314

204-30

-United Press. SINGAPORE MARKET

Singapore, Mar. 17. Prices of rubber futures closed today follows:-

Number I rubber, per lb.

The Finance Secretary,

ATS

འབ༴

Jap Experts In Britain

15.40

of the wealthy

merchants who

Cambled

pushing up the price of guld. He and a few colleagues began tour large quantities buying

1340 months ago at penk post-Korean prices. Now the value of gold has crashed and so have th syndicate.

283.

18.70

Their losses are be- lieved to total over £1,000,000

RACKET BROKEN

the The collapse of goki market has virtually broken the world's most profitable smug gling racket. Millions of pounds been worth of bullion has smuggled Into India since the outbreak of

the Korean war people rushed to invest in

and

The Government of India most American af characteristics abolished, effective yesterday, the │---the restless speed-up - to export duty on groundnut oil, | future pork chops, chickens and kardi seed, niger seed and raw eggs. wool. On the same dale the export duty on raw cotton was

There are about ten million reduced from 400 to 200 rupees farm hands in America,

like everyone else these days they have to be paid more.

So the formuln now sought is how to

to produce a given amount of animal with less costly grain and fewer hours of work.

bale of soft cottor and waster from 50 to 20 per cent ad valorem.

The export duties on other oii seeds and oils were unchanged.

-United Press.

Tourist Travel To

U.S. Booms

London, Mar, 17.

A seasonal falling off in first- class travel on the North AL

*T! unile has brought a boom tourist (third-class) crossings.

The Queen Mary, now on her way ta Now York, has more passengers in the tourist class than in the other two classes (first and cubin) put together. In the height of the reason, touris; passengers in the 81,000- ton liner are outnumbered by

but cupronickel rupees. Bearly three to one.

They, paid almost any price- crooks reckoned to make 30

are

4

turn-

The firm is succeeding, too. It can grow a 3 b. brolling fowl in nine weeks and on 9 lb of grain--which is about 1 lb of grain and one week of growing time below the 1945 average,

Then they feed the so-called wonder

drug

things likė nureomycin and streptomycin, to the turkeys. The turkeys like this so much that they are on average two pounds heavier at 26 weeks than they were in' the old scratch and shußle days. -London Express Service.

Grain Prices

In Chicago

Chilcago; Mir, 17. Prices of grain futures closed today, as follows: Wheat-price per bushei

3.503-240%-

nominal

305-25515

24%

1.49%

1.84!-1.85

23056-16

J.7721

2.09%

2.04.

Spot On her next west-bound crossing the liner America will gre have every tourist class

May berth July occupied. Many of the passen- September gers will be Germans, joining December the ship at hor Anal

.Corn Spot round point Bremerhaven.

March Shipping companies report May bookings "fairly"

well main- July tained" between here and the December September United States and Canada dur- Rye ing the winter.

March Liners operating on the North May Atlantic huye been helped by Oats the absence of such big ships. as March the Caronia, Britannic, Nieuw May

New York tour-per 200 h. Beck, Amsterdam and Liberte on $12.68.United Press.

shillings profit on every Pound Sterling's

worth of smuggled gold.

An Arab merchant this morning was walking around Calcutta's gold trading centre with A waistcoat containing Manchester, Mar. 17. £7,000 of bullion. He arrived Three Japanese authorities on by air, expecting to get at least

But there Ir labour and Industrial problems, £12,000. Aurelle Montinola, also opposed, me month's our buyers,

unlen

gold crisis has been ac- companied The hearings will continue to representatives here today.

by a panic on the The visitors, all from Toky3, stock exchange. Share volues morrow.--United Press,

Ayusawa, Pro-hava What are Me Iwno

tumbled adds France Presse

US frightened Labour Relations at earlier local American business-fon Charlton Univers: operators liquidate their hold-doar-cruise programmes.

the Japan men had threatened that unless

Miss Huru Ono, Chief of the the tax

abolished they Women's Division of the Al-

Lo It is considered impossible to would transfer their investments Japan Express Workers Union, stabilise the situation until cor-bound Atlantic

fidence is restored." 204 Mrs Ayull Yamashita, a member of the

the bill.

was

to other countries,

LONDON TIN

MARKET

London, Mar, 17. The tin market was steady this morning. Turnover was 80 toris, including, 10 tons for cash. Prices closed at the end of the official morning session of follows:-

local trade

mittee of the

Divizion,

Federation

Unions,

of

Central Co- Cotton Spinners

ings.

the

DEADLY DEFLATION

the National India is today tasthig of Fibre Industry swiftest, deadliest dose of du- station it has experienced for many a year,

They are guests of the Foreign Ofee and the Ministry of Labour.-Router.

Exchange

Rates

Prices are dipping daily worry grips. the Bombay and Calcutta Stock Exchanges - fortunes invested in speculation are being wiped out.

This sudden economie squali is Commodity unexpected.

in the local

not

April

May June Number 2 rubber, April.. Number 3 rubber. Aprli.. Number 4 rubber. April.. Spot rubber, unbaled'

10015-24 108-100

102-10715

Spot tin, buyers

Spot tin, weilers

Fusiness done at

10429-105

Three-monthx iin, buyers

Three-months tin, sellers

976

Indonesia gliders (per 1901

Blanket crope

No. 1 pale crepe

1124-

76-78. 132-137

Business done at

Slam ficuls (per 100)

Seillement

076

Singapore Stralis)

2000 1,75

United Press.

United Press.

B0-100

Claims To Be

Pressed

Manila, Mar. 17. Collection from the United

States Government of

$24,000,000, representing

about the

the

proat of the Philippine Gov- deposits in the ernment from its US Federal Treasury at time of the dollar devaluation in 1934, will be pressed anew.

The sum represents the At computed on the Revoluated gold contents of the US dollar out of the Philippine deposit of $54,000,000 at the time.

money,

There vessels will come back normal service as the east- season bulids

up. It is already difficult to get top-class accommodation in spme. ships in June-London Express Service,

Supplies For

#1-3 6311-1

Higher Trend In Cotton

New York, Mar: 17. Cotton futures opened 61 10 $1.70 a bale higher. May July October

March

Can Makers December

Washington, Mar. 17.

May

July

tohs of secondary tin milli plata

10 Business was done 975

market a prices are declining all over the Can makers will get 109,000 unofficial exchange 9752

org at the following rates world. Reduced 070

U.S. dollar per $1)

uced stockpiling, the general Play | Sterling note (per es

shortage of Ведени growing import restrictions are turning the tide which rocketed 12.073 riches into raw material produc- ing countries after the outbreak- of the Korean conflict.

FIC plastres (per 100)

Bankers Backing

Migration Scheme

Melbourne, Mar. 17.

Three Australian industrialists, and bankers are launching a scheme for the migration of people and Industries from Britain to the Dominions as a means of restoring the Empire to a position of power and in- fluence.

They suggest using dollar help, out Britain's prospects of paying It is

to further the for imported food, for 55,000,000 held here that the Philippino from America bid to collect should be pressed rcheme. They are seeking every people are "rather glm","

since the US Government made Government financial and pub-

averue of publicity to gain

of $2,000 milljon. —

a guin France-Presse,

TOURIST BODIES TO MEET

Salgon, Mar. 17. The International organisation

of official tourist organisations

will

But in India, which did well out of the boom, speculatora gumbled on world wor..

40.68 35.0347 -73 30.45 - 53

30.72

38.37 *36.21

35.85 The broad covering movement

in the first half of this year in i cotton futures that got under addition to their quotas, the way last Friddy was resumed in dealings today. Trade and Early Government announced today..

Canners and packers can use commission

house. buying

before the market reneted any quantity of the secondary extended gains to $2.29 a bals metal to package anything. { " without charging the

material somewhat on profit-toicing and against their

the hedging. quotas,

Mid-morning prices were Vast stocks of textiles, food Government said, About 35,000

to $1.60 a $1.30

bale higher grains and

be available in the than the previous close. and manufactured goods tons will were hoarded away for future. first quarter and 68,000 tons ir

Mny

40.73 profiteering. Prices soured: col- the second quarter.

30.41 ton, shirts from 13s to 37s. 8d.. The Government · bala

36,69 shoes £2 to £5. 10. A. cake bonus la being given because Engilsh soap cast 12s. 6d., a secondary tin enill products are tin of English peas 7s. Razor.nccumulating at mills with blades, cosmetics, watches; chance that present outlets will caméras became · high-priced or dispose of them. Assozlated

Proti, grew scarce.

"

Abaca Output Increased

July the October

no

-Associated Press.

Fertiliser. For Formosa

CUT PRICES These stocks are today being

Tokyo, Mar, 17. hurried into the market. Shop-

Japanese trade circles" said keepers are begging customers to

today that a total of 35,000 toris buy. Satermen follow possible

of chemical fertiliser will be purchasers around with offers of

exported from Japan to For the latest export motor-cars at

mosa during March, April and Manita, Mar, 17, President of the Australian cut prices. Shuwrooms are full

May this year. ile support.

Chamber of Manufacturers, I of fampus British makes for Stendy progross in the con-

Government The Japanese troef abiga mosaic disease in Ministries concerned have al The General Manager of the C. N. McKay, says the scheme months, unsolid.

been schloved, Bank

However, Indians are enjoying Mindanao has of New

South Wales, Aus- should be bared on the transfer tralia's biggest, most influential tren Britain of complete infuse the unfainillar experience of thereby increasing Philippine ready allotted manufacture o and oldest private bank, Mr S. J. tries-manufacturing units, men ting their salaries grow, more obara proditellon in 1931 it the fertiliser to seven makers, Gandon, puts forward the for-phi machines.

v in value. The cost of living. has was reported today by the United Prest malion in Australia and Britain.

8 per cent in the last Department of Agriculture and

It of a body to consider all aspects They want to campalen in two

and finan-America to get dollara for the further and faster in the next may dron Empire

weeks.

could become scheme on the ground | thật thờ would be well spent? on

Governments, de

do months.

Natural Resources.

pine abaca production hes

Fhr, the past two years Phiip- JAPANESE BONDS chaply, feclined due to the prevalenes of the mootle pent,

"meat in New Delhi, onersonal, poigration and development of, the migration to situation to the Indian Philippina.abaca, has been one March 24 to, set up, a regiona... envirages, a bodyco-Americans can ho convinced thent. Most of lis revenue of the majte dollar garners of i

and the

E for operating throughout the Empire mon

which has beðn a to distribute population an

and in peoples and their Industries comes from export duties and the

which de aligned with the India's main export, Jute and absolute, which enjoyed

member of 1OTO singt 1951 wil dug

be represented by: the. Direktor |nhà th find. Nhoppa) BLECHTTelted. Stelės, against~ Com='l'ten, are not selling so well abroad iduellen Pole, tone, bringá

the

"monopoly of dia pron- of Aviation, Li Cong Trinh Sir Herbert Gepp, one of the muniam London topress Seras previously. Any deepening of Second World War France France-Presse,

nation's

the depression will shut mills Presso, top industrialists, points vicd

London, Mar. 177 Japanese bondskampa "A" (496 1890) 7 **B": (45, at 1010)- Cor. 1002): “D” (5%, of 1934)

(8 of 1984). Consols (* 188-11/10. Press

United

MAKABBAN!" "TILUWAL"

"THIKAMPER"

"BUY" ***TIWANGI"

"TEGELDERO"

“TJIBODAB

"TJILUWAIT"

"STRAAT

MAKASBAR"

"TJIWANGI"

"TASMAN-

“TILUWAR"

ath

Manila, Singapore, Maurizing

5. Africa 4. Americ Djakarta, TJ/bob. Numarang.

Surabala & Macassar

Зардл

ningapore, a lijakarta, Bemarang,,

Buzabala di Atacansar Hogapore de East Africa

Japan

Manila, Bingapore, & 8. Air{c», Djakarta: Trebop, KOMBINE

surahain'... MACKMAT Singapore. Lijakarta, Bomarine.

Burahila 2 Backyar

Japan

Singapore, Pegang 2. Doliwan Dell Kingsport,

Surabala & blacksist

Djakaria, Tilreboa.

Suraħala Bi. Macassar.

Hamatans.

Semarang,

Mania, Singapore, Mauritius, 8. Atelen

& S. America

Singapore, jakarta,

aŭrabila & Macastar

Bordarang,

Djakaria, Tilrebon, Hemarang,

Husabala & Macarar.

Japan,

Hingapore,

Djakarta, Semarang,

Búrabala, & Macassar

Manila,

Singapore, Maurite,

3. Africa 478, America Djakarta, Titrabon,. 'Hemarang,

Surakkia Macau

Singapare

Djakarta,

+ Surabala Macassar-

Semarang

Singapore, Djakarta. Keinafand.

Muraifa, & Macassar

Hingapore, Penang.

Manila.

2. . 9. Africa

ARRIVAL B

Mar. 26th

Mar. 29th

Apr. 2th

Apr. 130

From

Atherlea, E, 25. Afrten, Mältritius, fizikapors & Manila. Atacassar, Surabain, Rematant, a. Pikkarta & Singapore Pening, Belawan Dell, Palembang,

Djakarta & Hingapore Macassar, Hurabala,

Djakarta & Sincapora

General Agents,

HOLLAND EAST ASIA LINE

Bemarang

SAILINGS TO EUROPE

**ARENDSKERK"

Apr.

6th

"KIELDRECHT"

May

7th

"AAQTEKERK" *ELITAR"

Энде

7th

July

7th

Balla Rotterdam

1

Arrives Bongkong

Balled Max.

Apr. 10th

Apr.

Octa

May

2nd

May 10th June

May

28th

July

June

2nd

Aug.

SAILING FROM EUROPÉ

"KIELDRECHT"

"AAGTEKERK" "ELITABŤ "HOOGEERE"

“ARENOSKERK".

7th

th

MAERSK LINE

FAST FORTNIGÍÏTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "TREIN MAERSK". *M.S. "PETER MAERSK"

M.S.

NICOLINE MAERSK”

* Calling Vancouver.

ARRIVALS FROM U.S.A.

M.S. "SALLY MAERSK”

M.S. "OLUF MAERSK"

M.S. "LEXA MAERSK”

In Port

Apr.

2

Apr. 16

Mar. 25

Mar. 30

Apr. 17

For Freight and Further Particulars please upply la:--

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel: Nos. 36066-9.

BEN LINE

FAST SERVICE TO UNITED KINGDOM AND CONTINENT ·

BY

S.S. "BENAVON"

› Loading Hongkong 23rd March

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THENCE

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ALSO ACCEPTS CARGO FOR PORT SUDAN,

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52222