1952-04-07 — Page 9

THE CHINA MAIL, MONDAY, APRIL 7, 1952.

Page. 9.

MESSAGERIES MARITIMES MATTER OF CONFIDENCE ROYAL INTErocean Lines

M

"MAPLE HILL"

"LAKE MICHIGAN"

Arriving Leaving

Apr. »

.. Apr. 24 Apr. 29

1ZELIDJA"

Tu Port

"LA MARSEILLAISE"

Apr.

+"BEAUVAIS"

May

JL

H

Apr. 7

Apr. 12 May

9

M

Outward For

Japan

Homeward For

N. Africa » Europa Marselliès via Maasim

N. Africa & Europe

† freight for Saigon, Alexandria, Tunis, Genori, Marseilles, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all. Mediterranean ports vin Manila,

Bubject To Change Without Notice.

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

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

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS-ANGELES AND-PANAMA..

M.S.

M.S.

NEXT SAILINGS

"NICOLINE MAERSK"

"SALLY MAERSK"

M.S. "LEXA MAERSK"

ARRIVALS

Apr. 16

May. 2 May 16

FROM

U.S.A.

M.S. LEXA MAERSK"

M.S. "LAURA MAERSK"

M.S. "LEISE MAERSK"

Improvement In Gold & Dollar Reserves

Japanese Desire

To Trade With

Red China

Singapore. Apr. 6. Japanese businessmen want "to re-estabilah irade iles with, Red China, bat are hoping to be able to do It without rousing American ire, according to a Japanese journalist,

Rene-Georges Inahaki, en route to Montevideo, Uruguay, to work as cor- respondent for the Kyodo -News Agency and Jiji Press, at fit Singapore that Japanese businessmen, how- ever, would do nothing to hinder the Japanese peace trealy,

He claimed that Japanese far roods today were superior to those of pro- because they Wat

were subject to rield tests before they left Japan, --' Asso- · clated Press.

A Genuine Achievement To

The

Chancellor's Credit

(FROM OUR OWN CORRESPONDENT)

London, Apr. 6.

The improvement in the Sterling Area's gold and dollar position during the first quarter of this year seems to have resulted almost én- tirely from a revival of confidence in Sterling following Mr Butler's Budget.

This impression is borne out by the fact that the gold and dollar loss in March. was much smaller than in the preceding two months-$71 million against $299 million in January and $266 million in February.

This improvement took place, moreover, in the last 20 days of March during which time the behaviour of the foreign exchange markets demonstrated in dramatie. fashion the efficacy of the bank rate as a weapon against | speculators in Sterling.

A

While the sudden improvement creating

the

in

Our

HONGKONG

SHARE MARKET

(From Our Correspondent)

SAILINOR

Apr. Apr. Sim

#EASTWAT? "VAN HKUTAT!" VETRAAT SOUNDA" APr.

"TJODAS"

STARMAN" **TASMAN" "THWANGI"

*TJIPONDOK”

MAKASSAR"

singapore, Dakaria & fefawmi tiell, Singapore"&" Mast AfriEX

Manlik, Bingapure, Aunka 1, ...

Marques à 8. Afplea Djakarta, Tjirebon,

Burabata & IRANJAT

Japan

NAKUTANE,

Singapore. l'exiang & Belawan Daily Bingapore.

Burahsiam incar

Sinarancs

Djakarta, Tiirebon, firtaarangi

Surabala di Maciuit

Maulla, stagepote, Maheitluses. Vielea.

Japan

Jaran

8. America

Hingapore, DjAkita, brindars

Apr. 11th

Apr. 2111

apr.

Serti

May

ΕΠΑ

May

74]

"KTRAAT

May

**EASTWAT"

May 1

~TKGELDENG"

ALAY

1300

"TJILUWAD"

May

16th

May 22nd

“TASMAN”.

"TJIRAMPER"

MAN A

Juno

June 115

June 131

June 16th

Japan 24.

3711

Djakarta,

2nd

Singapore,

-RUYS"

*THWANGE

"TEGELUKUG"

"TAMODAS"

"PJILUWARE"

"TJPANAŠ“ »TJIWANGI

"VAN HEUTRZ" "TJIPANAS"

"TJIPONDOK"

"RUYS"

"TINOWAN"

June 11th July 2nd

July ach July

શ

July KIR July th duly 10th

Mürabjle, &” Mincaviar

Japan

Treban. SMALLCADE,

Suchala Marassar.

1jakarta, Semarang.

Surabala de Macandar

Manks,

Kingapore,

Mode

S. Africa de S. Amorrica jehere,

Tjireboti.

Sarubala & Marayar

Singapore,

Dakarta,

Bitabala & Macassar

Japan

Sofurang,

singapore, tijalaria, Remztabi,

Nurabala AlensSE

Japan

Manilla, Singapore, Perang,

E. & 6. Aftles

A

bjakarta, Thieben, SERANS+

Burabala & Makassar

Mantia, Singapoje, Matinumus, S. Aclea

8. America

Singapore, #jakar

Surabala & Massar

From

Penang, felawan Dell, Palembang,

Diskurta Slugapore

Kurabalo,

Maraar.

Djakatia & Singapar

Kenarang.

ARRIVALS

"TASMAN"

“TJLUWAIT"

Apr. 10th

Apr. 13th

external

Business done on the Stock | "THWANGP". Exchange during this morning's session amounted L $404,8u. Noon quotations and the morn- ing's transactions:--

"EASTWAY"

Apr. 280

May .:WiFi

Singapore,

Surabala & Magassar Djakarta, Belawan Bell & slaapors

right economle in the gold and dollar position climate for a more tasting, Im-

welcome provement has been wholly development, too much stress position. cannot be laid on the psychölögi- cal factors which lie behind it.

WILL IT CONTINUE? The question now whether

For this was an improvement the recovery which took place in SHARES BUYERS SELLERS SALES

Distribution Of besed almost entirely on semi-March will continue during the BANKS

Sugar In U.S.

Washington, Apr, 0. Sugar distribution in the con- tinental United States during the week ending March 20, con- tinued ahood of last year's figures during the same period, Agriculture Department statis- ties showed today.

+35

Jakarta. Krinarang.

General Agents,

HOLLAND EAST ASIA LINE

HK Bank

1370 1300

731985

SAILINGS TO EUROPE

East An

INSURANCES

Canton Union

· 140

RENDSKERCİN

"KIELDRECHT"

May

'AAUTEREYK"

June

7th

*55

«ЦЕЛТАД

July

7th

730

Underwriters 4.70

4 G

50

735

SAILING FROM EUROPE

Balin -Rotterdam

Arrives Hongkbag

"KIELDRECOT"

Salled Mar,

5th

Apr.

"AAGTEKENH”

Apr,

5th

102 May Toch

Astu Nav.

1.70 1.15 on a

$10 910

1.70 BLITAR"

May

2nd

June 7th

May 24th

July

4th

July

01

2nd

Aug.

speculative movements. The present and subsequent quarters, } relief-ealag in this way, wel- Mr Butler, in his come as it is, must be regarded the gold with caution; s "The Times" stressed the effect that

had hod points aut, "It depends entirely non-recurring receipts

These, he figures. on confidence, which is a sensi- on the March

estimated, amounted to no less tive and delicate thing, and it could disappear in a moment than $75 million. They included

the confidence fai

failed."

to the United SHIPPING special sale

Africa there is no cause Kingdom of gold But, although

by South do $28 million; for self-congratulation, the fact

received under the Katz- DOCKS, ETC. of gold and Apr.

that the outdow 18

(covering dollars in March was

agreement down to Apr. 28

less

Di than ane-third

the the reimbursement to the United May 13

week The Jast

of March February Agure marks real Kingdom of gold losses incurred showed a distribution of 189.789 achievement and credit for this from the use of existing Sterling balances _by_other members of short tons, with the year's total must go to Mr Butler

Union, 1,889,013. During the corres- Crude though it undoubtedly the European Payments Un

535 million from speciat ponding week in 1951, It show-is, the manipulation of the bank and

of rubber, tin proved 10 ed 117,389 tons with the year's rate

and lead to United States under the total of 1,715,075,-United Press. tremendously powerful factor in

recent inter-governmental com- modity agreements.

For Freight and Further Particulars please apply to:-

AGENTS:

& CO.

JEBBSEN

Pedder Building.

PENINSULAR

QUIS NOS SEPARABIT

Tel: Nos. 36066-9.

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.Ş. "CANTON”

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 11th April at 5.00 p.m. for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the longkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE BY NOON on THURSDAY, the 10th April, 1952,

SPECIAL NOTE: With the exception of hand packages curried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only. Will take place on Friday the 11th April between 2.30 p.m. and 4.00

EMBARKATION:

p.m.

PATTISON ORIENT LINE

$.5.

LIMITED

"LAURE PATTISON"

Due From:

Japan,

In Port.

Sails For: DIRECT Pagan & Jupan, Apr. 8th.

5.S, “ADELANTO”

Loading From: Apr. 7th.

Sails For:

DIRECT Pusan Apr. 15th.

12-14 Queen's Road, Central.

Tel. 25346.

CHINESE AGENTS:

hus

bc a

sales

the

Cotton Industry

Wants Purchase Tax Abolished

(FROM OUR OWN CORRESPONDENT)

London, Apr. 6,

A deputation from the cotton and rayon in- dustries has called on the Government to abolish the purchase tax and the D-Scheme as they affect cotton and rayon goods.

These receipts are all non- recurring in character though some part of them-for example, through payments for special commodity sales-will continue to benefit the reserves for sume

months

GROUND FOR HOPE

On the other hand, the United

K. Whart XD M. P. Wharf 6.40 8.60 Dock

18.00 Provident XD Wheelock ... 45% 40%

100 48

LAND, ETC.

HK Hotel XD 1.20

7.26

1400 30

FIK Lar

10) XD

44

11

12 XD

(B) rom. (Ris) nom #prey

UTILITETS

Tram XD

·

15

1600 15.20

100

P. Tram (0) 2435 P. Trum (N) 14% Star Ferry XD

C. Light (0) 8.15 8.25 3300 120

C. Light (N)

Electric X

201

SOU w 8,13

700 40 20,24 Tele lione .. 151 10 1000 1

Kingdom muk CommonwealthINDUSTRIALS

import restrictions, have not yet had their full effect and these can be counted on to play an

Increasingly important part in reducing the loss of gold and dollars.

American ald, which hardly affected the first quarter's figures, should bring further improve-

the

All

all there seems

level of American buying of peltes

ment in the present quarter. reasonable grand to hope the improvement will continue A good deal all! depends on the

the Sterling commodities, The D-Scheme (this is the name given to the of which have recently tended scheme proposed by the Douglas Committee) was to drop, and also on the degree introduced in the Budget to take the place of the efforts made by the Common- old utility scheme of which the textile manufac-wealth

bring their own payments into turers themselves were among the strongest op-balance with the rest ponents.

of success which attends the

to countries

Sterling

10%

Cement XD 13.20 13.00 Hope XD STORES, ETC.

Dalry XD .. 152 1913 1600 15.90

Crawford 14

Walion

COTTONS

Wo

2003 1900 +

MISCELLANEOUS

Yangtze 5.40

2.30

1000 5.40 37,000 * 5.49

Grain Prices In Chicago

the market

of

ensed

Wheat futures closed to cans a bushel lower, co was ingher to lower, oats 1 higher la 4 lower, rye higher tougher and soybeans

Chicago, Apr. 3.

mostly of the Grain futurez wore world.

steady with little change from

closings, Much But a lasting recovery must be Friday's Under the utility scheme an The purchase tax provides based on more solid foundations. Saturday's demand appeared to

in of the whole. the long run confidence in be week-end evening up pending ever-widening range of textile nearly one-tenth goods were.

freed from the tax income of the country and to Sterling can only be maintained developments over Sunday, Near ff our trading purchase tax and this was be- abolish It altogether would not

position shows the close,

off. lieved to have had a bad effect only deprive the Government of real signs of improvement. And on Britain's textile exports.

矗 A powerful

means of checking that is one of the least certain also factors of our present situation, The argument was that the consumption but would incidence of the purchase tax necessitate a rise in other forms on non-utility goods discouraged of taxation to offset the loss of

market and revenue. sales in the home therefore ingreaded the risks The Government will also have involved in the production of tu consider the effect that re-

goods for export better-quality

moval of the purchase tax from manufacturers

claimed cotton and rayon goods would that concentration of home de have on the longer-term problems mand on utility: goods deprived of the textile trade. them of a "testing ground"

" for

THE EFFECT export lines and an aliemative outlet for "frustrated" exp

exports.

Immediate effect of an aboll- The D-Scheme was intended

of tion

this

would fax

The

to meet this argument but instead

Weekly Bank.higher to 1 tower.

Statement

Paris, Apr. 0. The Bank of France state- ment for the week ending Maren 27 rends as fllows:- Total gold holl ngs.. Total of other Cit

reueles

Whent-price per bushel:

Spot

May

2.01 nominal 2.405-16

July September December

2.4044-14

2.41% 2.45

Согд

Trs.

101,446,078 020

Spot

3.652,043.201

May

the

Sign balance surund Advance to entrenes

stabilisation Bits discounted

11,131.877.:140

870,449,084,351

September Docenber

1.84 nominai 1.8776-1.83 10412-6 1.80 1.77%

it appears to have intensifled it, undoubtedly be to start supplies

moving again. all Under this scheme

goods wlume wholesale price falls uncertainty

this has the desired

Frence and stiroad Natès in eirculatini » 1,801,001,422.729 Current account and

With removed monly below a certain level are free of people who have been waiting tax while those above the so- for prices to reach bottom before 80 buying would replenish their called D-line are subject to

deposits stocks and this would case tho purchase tax.

immediate situation. While

But what would happen when. effect of smoothing out dif- that phase had passed? Sooner ferences, in price between tax or later supply would again the outstrip demand and the funds-

problem of Over makes matters production would reappear. The D-line has industry would have gained a brief respite, consumers would have had the benefit of cheap, supplies and the only loser would be the Exchequer.

free and taxed goods, textile manufacturers believe

present scheme

worse because the been set too low.

mental

ABOLITION WANTED Faced with a serious recession in trade they have now demanded

It is unlikely, therefore, that complete abolition of the the Government will fall in with

مزاده ل

204,572,058.860 United Pren

Stor

1.03

Italy

1.06-1.05

Oats

Rubber Futures In S'pore

Singapore, Apr. 5, Prices of rubber Kutures closed today as follows:- Number 1 rubber, per lb.

May June July

10014-210 108(4-14

purchase tax on coffon and rayon the Industry's request for Number rubber, May 107-166 goods in the hope. that lower

abolition

the Number 3 rubbar, May, 104-105 complete

of prieca in the shop will revive the purchase tax though It might Number rubber May, 00-101

Spot rubber, unblad demand that has been so offer some reile! by raising the Blanket / en conspicuously absent in recent D-line on textiles and thus free No. 1 pal, crepe imonths.

п wider range of there goods The Government is therefore from indirect taxation. faced with a difficult problem. - If Some action of this sort is

the purchase tax on, clearly required

130-135

United Press.)

Mny

8416 July

0112-15 New Yarit hourper 200 15, Sack. #12.30.United Prem

"HOOGKERK” HARENDSKERK“

BENTLINE

FAST SERVICE TO UNITED KINGDOM AND CONTINENT

BY

S.S. "BENCRUACHAN"

Loading Hongkong 14th and 15th April

DIRECT FOR SINGAPORE

THENCE

HAVRE, LONDON AND HAMBURG.

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

York Building.

Tel. 34165 & 88710.

M.V. "LA MARSEILLAISE"

will sail for

MARSEILLES

vin

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

on.

Saturday, the 12th April, at 10 P.M.

Passengers are requested to board the vessel with their cabin baggage on the 12th April between 5 P.M. and 9 P.M.

Baggage Room and Hold Baggage will be registered ut Kowloon Godown No. 50 (No. 2 Gate Canton Road, Entrance) on the 11th April between 2 PM, and 5 P.M. and 12th April from 9.A.M. to NOON. '

No baggage will be registered after this time. Compagnie Des Messageries Maritimes

Queen's Building..

Tel: 26651,

Pacific For East Live, Jive

nuect

•

OVEILLAND NEW YORK-CHICAGO-DETROIT-TOMONTO MONTREAL AND ALL AMERY FAN

Fast Regular Trans-Pacific Service. SAN FRANCISCO, LOS ANGELES

Guam, Marious Islands, Micronesian Talands

these goods the Exchequer stands the textile industry breathing Exchange Rates LLA LUCKENBACH-

CANADIAN CITIES

· Regulat ̧” Service direct or will transhipment.

con

Artiris

Eatla

Straita

Apr. D

Apr.

D

Ban Francisco

Straits

*Apr. Apr. 10

17.

Apr 20.

Apr. 30-

Ver

Ban Francisco Los Angeles

*** via Kobu & Nagoya

Gingapore, Tchang & Pat

Swettenham

Busbwa was done in 2001. LUCKENBACKP

officiat excherige market morning: at-rise following, trieg:-..

doller (per #1)

NBAÇU” stenting notepar 41) 11636,"P. J. LU Indonesia guilders (per 100) Dern ticala (per 100)

2000 re-singapors (štrpita)

1.24 For "fall particulars' call United States Lines Co., General Agents, Queen's Huilding, Tel: 28106,

to lose about £80 million a space in. which to prepare itself year. Even If that loss could be for the stern, fast which awaits absorbed what guarantee have it in the wider field of world

trade. of also auffering froni

Any rate, the dovernment consumer resistance, will not be have been given the opportunity encouraged to demand similar to review their whole policy treatment?

garding the purchase tax.

OVERSEA CHINESE STEAMSHIP CO., LTD. they ich ane digo quaterias try GAL:

48, Bonham, Strand, West, Telg. 26127, 31118 & 81119,

|_ WIC)"plastewa (per 100)

San Francisco & Los Angeles'

Via Kobe