1952-03-24 — Page 9

MESSAGERIES M

"LA MARSEILLAISE” "MAPLE REL"

THE CHINA MAIL, MONDAY, MARCH 24, 1952.

MARITIMES DOG BITES

M

Criticism Of Cuts

Arriving, Leaving

.Yar. 31

Apr. ย

Apr.

Outward For

Yokohama & Kohe

Homeward Yor

"JEAN DUFUIS"

Mar. 27 Star. 29

#hiptrong & Salzon

1"ZELINJA"

Apr. +

"LA MARSEILLAISE"

5 N. Africa & Europe Apr Apr. 12 Marseilles via Manila

"BEAUVAIS"

Apr. 10 May 1 May 2 N. Afries Europa

Genoa,

† 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 53, Hongkong

Queen's Building (gr. floor) Tel. 26661 (3 lines)..

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BONTON, BALTIMORE & PHILADELFILIA vis SAN FRANCISCO, LOS ANGELES AND PANAMA,

NEXT SAILINGS

*M.S: "PETER MAERSK”

"NICOLINE MAERSK"

M.S.

M.S.

"SALLY MAERSK"

Ai

Calling Vancouver.

M.S.

"SALLY MAERSK”

M.S.

"OLUF MAERSK"

M.S.

"LEXA MAERSK"

ARRIVALS FROM U.S.A.

Apr. Apr. 16 May 2

17

26 Mur. Mar. 30 Apr. 17

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN

Pedder Building,

& CO.

Tol: Nos, 26066-9.

m.v. "LA MARSEILLAISE”

10 days Roundtrip, to JAPAN

Sailing from Hongkong 1st April, 8 p.m.

India-Pakistan Finance Talks

The

Karachi, Mar, 23.

2:12

Finance Ministers of India and Pakistan will hold exploratory falks this the outstanding *eck

between financial Issues

the the 1wo rountries, Indian Finance Minister, sold here Mr Deshmukh today.

Mr Deshmukh is here to irad the Zaulan delegation

In the Colombs Plan talks. -France-Presse,

DOG' POLICY ROYAL INTEROCEAN LINES

In Empire Imports

Serious Effect Of Measures

On Britain's

Exports

(FROM OUR OWN CORRESPONDENT)

London, Mar, 23. Southern Rhodesia will probably be the next Commonwealth country to announce cuts in her import programme. It is unlikely, how- ever, that these will seriously affect trade within the Sterling Area.

**TJIKAMPEK"

"STRAAT

MAKASBAR" *THWANGI",

"VAN BEUT1Z"

"EASTWAY"

"STRAAT

SAILING'S

To

Djakaria, Tjitskan,

Nuralisia & Machasar

Jakarta,

hurabala & Macassar Megaporn Kay Africa

BemarABS,

Betnrang.

-Singapore, Djakārta & Belawan Delt

Japan

Manila, Singapore, S. Africa

Bjakarta,

Tjirebon,

Surabain Macar

Bingapore. Djakaria, Semarang,

Surabala "Mineassur

Blogapore, Penang Belawan Dall Singapore,

jakarta,

Sarabia & Moennaar

Djakarla,

Semarang.

Tjirebon, Setantang,

surahala &"Marausar

Manita, Singapore, Mauritis», 9, Africa

& 5. Ametles,

Djakarta,

Semarang.

Afar, th

Apr. 204

Japan

Apr.

2nd

Apr.

ath

Ap

ርኒ

*TASMAN"

ቦ.

ALIY

"STRAAT SOENDÁ" Apr.

6411

TJODAS"

Apr. 3301

+

"TAKUWAU"

Apr. 10th

"TABMAN"

Арг, 28

"TJIWANUT"

ALAY

End

TJIPONDOK"

Stay

May th

MAKASSAR” "TEGELDENO"" "TIHLUWAH"

"TJIKAMPEK"

MAY

1310

Japast

May

16ft

Singapore,

May 24th

alay 27th Jo 2nd

Заран

Singapore,

Juno

Oth

"TJIRODAS“

June 13th

S. Mrica &8, America Djakarta. Treban.

"TILUWAH"

June 16th

"TJIWANGI"

July

2nd

"TJIPANAS"

July

#th

Manita.

"BUY"

July 9th

ARRIVALS

From

Mar. 26th

America, E. &

*KUYA"

TJWANGI"

Like those made by the three East African colonies they will probably be designed to reduce imports mainly from non-Sterling TEGELBERG" countries.

Mr Whitehead, the Finance Minister, revealed that Southern Rhodesia had an adverse balance of

Decline Intrade in 1951 amounting to £34 million. Its balance

U.S. Cost Of Living

of payments deficit was 241-million.

Long-term borrowing und) Textile exports present a more exports difficult problem. Our private investment helped toot textiles last year amounted to fill some of this gap but £535 million compared with

re- £415 million in 1950,

overseas reserves were

Africa

HONGKONG SHARE MARKET

duced by nearly £11 millión. Australia took 20 per cent of

(From Our Correspondent) exports of cotton Main reason for this, Mr the British Chicago, Mar. 25.

Business done on the Stock food prices have Whitehead sald, was the wursen-piece-goods and South

At best, Exchange this morning amount- U.S.

ing of Southern Rhodesla's terms another 13 per cent.

therefore, it is unlikely that again dropped and the af trade. Tobacco exports were more than 25 million worth of ed to $258,805.10. Noon quota- Government reported

the down by £ 3 million-the result textile exports could be diverted i tions and the morning's trans- sharpest decline in the cost of diught--and the price of gold, to other markets.

other country's

importunt of living since 1949.

export, was pogged until towards the close of the year.

Price declines were reported on a wide range of commodities, from butter and eggs to television

Ta Chiengo, chan stores cul Later another 2 to 4 cents for at overal decline of 17 rents n pound see Feb. 29. One store old top grade butter at 77 cents

pound,

the

On the other hand, drought had made it necessary to import large quantities of grain and stock feeds, and stockpiling had further depleted reserves.

While prospects for 1952 were much

brighter, certain import cuts would have to be made, he Most of them would fall said, on non-Sterling goods but Mr Whitehead warned that there In New York the Department would also have to be "a small uf Markets reported eggs, in- but not really serious net decline duding large grade "A" varies in Southern Rhodesia's Sterling "Wait, "salling" at a six-year-low.imports."

Hog prices on the major markets in the Eastern portion of the cornbelt were 25 to 50 cents

100 pounds lower.

The declining price of wool and leather goods prompted the re- moval of price ceilings earlier last week.

In New York, Emerson Radio and Phonograph Corporation cut

prices by more than 25 per cent un some motiels. The price cuts ranged from $20 to $100, Earlier, Electric find cul General television prices $20 to $90.

to Yokohama and Kobe

11th April, 6 p.m. ending Feb. Arriving from Japan

Roundtrip Fares

1st Class

Tourist

HK$910 to HK$1,160 HK$600 to HK$ 640

Excursions in Japan arranged on application.

This would be mainly on the consumer goods, side.

SERIOUS CONCERN

Prospect of further cuts in inter-Commonwealth trade is certain to lead to fresh protests against this method of bringing the payments accounts of in- dividual Sterling countries into bance this year,

circles.

. From these "guesses," "The Economist" estimates that some £130 million out of the cul of £280 million might be diverted. leaving a net decline in total exports of about £150 million.

actions:-

SHARES BUYERS SELLENS SALES BANKS

1470

1 Bank XD East Astu

INSURANCES

Union SHIPPING

Asta

..14012

"STRAAT

MAKASSAR" "TJIWANGI"

"TABMAN"

"THUWAÐ"

Mar. 2912

Hurabala & Alacasar

Djakarta, Tillion, Rematang.

Nutrabala & Macassar.

Bjakarta,

Surabala & Macassar

Manilo,

Benirrang.

Bingapore, Mauritius,

Surabaja & Macassar

Semarang,

Singapore, Djakaria, Semarang.

Surabala & Macassar

Singapore. Djakarta,

Surabain & Macassar

Singapore,

ES. Atries

Semarang,

Prosur.

&

Manila, Ningapore, Mauritius, S. Africa.

A S. Ameriza

Africa,

Semarang,

Mauritius, Singapore & Manila.

Surabala, Djakārta & Singapore

Palembang,

Semarang,

Магдалг

Apr,

7th

Apr. 13th

Penang, Helwan Vell,

Djakarta, & Stugapore

Surabala, Macassar.

Djakarta &.&ingapore

General Agents,

HOLLAND EAST ASIA LINE

"ARENDSKLOK“ "KIELDRECHT" 733AAGTEKERK"

720 73714 20 735 "BLITAR

89 50007

107% 27.75

No 1,70 DOCKS. ETC.

K. Wharf XD Dock Wheelock...

the LAND, XTC.

ཥ

EXTRA EFFORT

But, it adds, this Ogure is not put forward as a factur forecast-"It merely shows extent to which extra effort must be made to expand exports so that there will still be some promise that the British pay- inents account can be brought into balance.”-~-

Public discussion of these cuts has centred on the question of whether or not Import restric- tions within the Sterling Area were visualised by the Common- wealth Finance Ministers at their recent London conference. Mr Butler, the Chancellor of has said that

the Exchequtely no under-1

on

SAILINGS TO EUROPE

Apr. May Juno

Eth

1th

July

BAILING FROM EUROPE

Salla ILotterdam

Arrives

Hongkong

"KIELDRECHT"

Halled Mar.

3th

Apr.

103年

Apt.

3th

May

10th

May

2nd

June

2th..

"OGOKKAK“

May

26th

July

"ARENDSKERK"

Jano zad

ABE.

7th

TO 2801

43 431 500 # 131⁄2"AAGTEKERK"

500 40 "BLITAR

190

3000 43

HK Holel XD 7.00 5.10 1860 HK Land XD 42 1.33 0766 r. 14

Shat Land. UTILITLES

Trom XD

.. 15.550

1300 16.30

1000 G 15.0

500+ 13.75

100

P. Tram (01 24

100 200 6 Star Ferry X C. Light 0.40 25 340 35 500 8.40

C. Light (N) 5.00 5.70 Electric

XD 20.30 2015

GDG 20.40

40

5

2400 f 5.60

1000 20.38

30 10

500 l 2017

Telephone INDUSTRIALS

Cement XD. 13

Roge XD... 173, STORES, ETC.

Dairy

14 500 13.45 500 13.75

18.00.10.40 1300 10.70 Watson XD, 21:50 Walton (Ris) 1.80

21.00 L Crawford 321% COTTONS

2.06 MISCELLANEOUS

Yangisze... 4.85.

EWO

Stock

Exchange

New York, Mor. 22. Stocks drifted irregularly tedny nod only a few in-

there star was Effect of this policy on Britain's standing at the conference that

one overseas trade has become the cut imports from another.

Sterling Arca country could widely discussed of all

"All aspects of the matter were ost current economic problems in considered," he added, "but we political as well as financial had

that would no idea Serious concern has been ex-of our

necessarily

conference as a result In Washington, the Govern-

This bro ment reported that the cost of pressed lest the restrictions im-

an immediate and New York brought an living had declined for the first posed by certain Commonwealth indignant reply from Australia, make it, im-where Government spokesmen time since last July in the month countries should

The drop possible for Britain to balance are reported to have said that 15,

Tick own-overseas account.

although specific cuts were not brought an automatic wage cut

to 1,150,000 On the political side, fear of agreed upon, restrictions of a cent an hour

the consumer whose wages unemployment in railroad workers

trade Sterling

were clearly. are tied to the cost of living by goods trades-particularly in the meant to be included in the dividual issues managed to pull

textile contract,

industry-has proused

used general overall policy of reduc- out of the price rut. Oils re- strong criticism of what is re-

gistered the greatest changes Labour garded as "dog bites dog" policy. Imports,

Motors had little The

both ways. by Australiu cuts imposed by are, from the British

attention. Utilities were slightly exporter's

This apparent Inck of co- better. point of view, the most sect ordination between the Common- Dow Jones averages at the

these will Exactly how British exports is not yet known wealth countries

maiters end of the session:-- economic 30 industrials but it has been estimated that of affecting a common

polley has the £600 million reduction

been deplored by 20 rails Australian imports no less than politicians on both sides of the 15 utilities £250 million will fall on goods, House of Commons as well as by 40 bands from this country.

large sections of the Press and public opinion.

ان

The Bureau Statistics said the cost of living decling was 6/10 of one per cent, since December, the sharpest 1940.

The National Industrial Con- Terence Board in New York re- ported that its consumer price index last month fell back to the level of October, 1951. The Board said it was the first sizable

COMPAGNIE DES MESSAGERIES | den since early 1950--United

Queen's Building.

MARITIMES

Investors Hunt For

Bargains

London, Mar. 23.

Investors have had ten days

Tel: 26651

NEW TRADE

TREATY PROPOSED

France has

Tokyo, Mar, 23,

semi-affleially

In which to think out the im-proposed to Japan a trade, and plications of Mr Butler's Budget. navigation treaty.

The strength of Sterling has encouraged investors to resume

bargain-hunting

their

Government stocks,

in

This bargain-hunting has con- centrated upon nationalisation Brush Trans- stacka, notably

to conclude

The proposal is under study by Japancre experts,

Japan wishes similar treaties shortly with the United States, 'Italy, India, Pokiston and Indonesia.

Press.

Investment Promotion Advocated

GRAVE THREAT

New Zealand's exports are expected to decline by about million, of which a little

£50

by the

has

MP DEMAND

on

A

Асустве cuta

265,00 80.00

BENN LINE

FAST. SERVICE TO UNITED KINGDOM AND CONTINENT

BY

S.S. "BENAVON"

Loading At Buoy A-2 24th March

DIRECT FOR SINGAPORE

THENCE

LIVERPOOL, GLASGOW, DUBLIN, AND HULL.

ALSO ACCEPTS CARGO FOR PORT SUDAN & PORT SAID.

50.44 W.R. LOXLEY & CO., (CHINA) LTD.

181.13

United Press.

GRAIN EXPORTS BY AMERICA.

Washington, Mar, 23. The Goverripent announced that commercial and Govern- ment exports of bulk wheat, rye, coarve grains and oil seeds are scheduled at 1.983.000 long 000,000 1012 in May. tons in April, and about 75,-

Certain Socialist MPs have gone so far as to demand completely new Commonwealth economic conference to recon- alder

ilder the decisions taken in more than half might be borno January.

and Sterling Area

Conservative MPs, have not Western Europe, while the £70 gone to this extreme but many million cut in

South Africa's of them are nonetheless concern bill import

reduc- might mean a

ed about the possible tion in Britain's exports to that effects of the import country by som £1 million.

Britain's economic situation. Altogether it

been

Several of them have revived estimated that of the £550

the demand, often heard during million of import cuts imposed the Finance Ministers' talks, for clude

The April shipments will in- | by these three countries alone. some

about 1,482,000 tons of form of permanent bread grains and 501,000 tors some £280 million might fall machinery to co-ordinate. Com of contre grains and oil, sauce Washington, Mar. 23.

A. Johnston Chair-

on Britain.

will include Mr Eric

these figures this monwealth economie palley along May shipments Analysing

agreed lines.

44,000,000 bushels of man of the Foreign. Aid Advisory

Tho

Economist" all-out week-end, Board, today urged

This, they believe, is the only bread grains and about 19,000,- Government campaign to pro- calculates that perhaps some £75

in way of preventing further mis-000 bushels of coarse grains and s'of Brlish business and ease the foreign aid burden the American laxpayer.

"With

about

mate private Investments abroad lielos (p3riicularly mater cars) | Understandings arising in future oil seeds---Associated Press.

ut?

Jap Shipping

may be lost, up to £100 million and of avoiding any repetition of on textiles (after taking account the damage caused to exporters stocks existing in by a unilateral breach of con- of of the large the greater use

tracts, private capital," he said in an the three southern Dominions), interview, much of the costly some 205 million on consumer foreign assistance programme goods such as pottery, vacuum could be eliminated entirely." The Japanese Government also

cleaners and refrigerators, and portation, which have risen wishes to conclude an agreement

£40 million on caplial goods and Mr Johnston submitted the raw materials. for restoration of similar treaties Movements in industrials have with Sweden, Brazil, Argentina, iden for the campaign at a meet- It is obvious from these rough

yesterday

that the cuts im- been erratic, Rayon shares have Uruguay and ether, countries ing

President calculations been weak with Courtaulds

which were

at war with Truman's Foreign Aid Advisory posed by Australia, New Zealand losing 1/3d. and

Board. British Japan.

and South Africa constitute Celanese 3/~

Before the war Japan had

grave throat to the British export Consols gained 12/04, to trade and

navigation treaties

programme and to full employ- ment at home. £50 and War Loan 3/9d. to with 32 £44.

Presse. 21972

Old

erratic.

shares were equally

were Royal Dutch

not

countries.-France-

active with large gains and Rubber Futures

lasers, but succeeded only in

closing unchanged at £28

Anglo-Iranton and Burmese both rosu 1/3d-United Press.

In S'pore

Singapore, Mar. 22. Prices of rubber futures closed today as follows Number 1 rubber, perib.

April MAY Juno

Apol

April Number

April- Spot rubber, unbaled Blanket crepo No. 1 pale stepe,

** ́ ́ rubber," ".. the Number

Oil Tax Proposal Washington, Mar. 29. State Department officials, and Congressmen gave a cold recep- tion today to a report that the Philippines cocoanit Industry is sending a mission to press for the Number passage of a bill eliminating the cocpanut oll tax. The bill would eliminate the three per cent pro cessing tax on Philippine cocoa- mut oll-United Press,

rubber,

11344-11236 11174-94

1101-111

2003-200

133 -137

United Press,

of

The

Revival

Tokyo, Mar. 23.

Transport Japanese

He also proposed

a unique partnership Investments plan under which Americans and Fortunately, however, there is Minister, Glicht Murakami, 10- foreign businessmen would

a chance that part of this loss day disclosed that Japan would Jointly finance overseas enter-

bo offect might

by diverting prises.

some of our exports to other within three years be able to

handle 50

'per cent of her im- Foreign business opportuni- markets.

00 per cent of ports, including tics are plentiful, he said, but

The oil products. TEXTILE PROBLEM Americans avold, them because

Me Murakami, who was speak- Continuing its analysis, "The ing before the Budget Commis- Economist" points out that theresion, sald that the Japanese Gov Americans are extending only should be little dimculty in dia- ment had decided to build by a few hundred million dollars a posing of the £40 million worth 1055 a total of 250,000 tons of year for foreign development, he of capital goods for, which there freighters and 60,000 tons of

Lankers added, but with proper incon-1s a

lively tive the fatul could be closer to markets.

ely demurid $7,000,000,000 annually.

of various restrictions and the threat of nationalisation.

in other

Japan at present has 273 If the Canadian market could seagoing cargo ships, represent He concluded; "Undor the be reopened and a successful ing 1,500,000 tons, and 33 font- partnership plan I am suggest drive launched to expand excru totalling 340,000 tons.

Japanese shipping at pto- ing, there would be fewer foreign port to other parts of the world, restrictions, and more protection about £80 million of additional sent tromporta la per cent of for the American, Investor." car exports could be achloved the country's imports-France-

Presse. Unitod Press

this year.

Exchange Rates

Business was dona' In the locat unomcial exchange market morning at the following rales U.S. dollar (per 1) Sterling Koty (per, Cij Indonesia guilders fner. 160) | Slam licala (per 100)

Singapore (Stralis)

Fid plastres (per 100)

this

15.84 3,01

30.50

1.022

15.25

York Building,

Tel. 34165 & 38710.

PATTISON ORIENT LINE

LIMITED

S.S. "LAURE PATTISON"

Due From:

Japan,

Mar 30th..

12-14 Queen's Road, Central.

Sails For:

DIRECT Pasah & Jajan, Apr. 4th.

Tel. 25846.

CHINESE AGENTS:

OVERSEA CHINESE STEAMSHIP CO., LTD.

48, Bonham Strand, West, Tels. 26127, 31118 & 31119.

Pacific For East Live, Jure.

Fast

DIRECT

JAN FRANCISCO, 1,03 ANGELES

Regular Trans-Pacific Service

OVERLAND

NEW YORK-CHICAGO-DETROIT-TORONTO MONTERAL AND ALL AMBULAN 糙 CANADIAN Cities

Gham, Marinas Xalands, Micronesian Islands -- Regular Service direct or with franabipment,

Vemal

From

Arttres

Balls

For

"TRADE WIND"

WILLIAM LUCKENDACI

"PJ LUCKENBĄ OIT"

San Francisco

Siralty

Mar. 25

Mar. 23

San Francisco & Los Angeles

Apr.

San Francico.

Apr 14, Apr. 17.

San Francisco de Los Angeles

Eingapore. Penang.& Port

Bwettenham

For full portioniare cali United States Lines Co., General Agents, Queen's Building, Tel: 28188: