THE CHINA MAIL,
MONDAY, MAY 5, 1952.
MESSAGERIES Y MARITIMES A MATTER OF BALANCE
M&M
"LAKE MICHIGAN"
Arriving Leaving
May “DOCTEUR YERSIN” .....Mɔy 7 "DIR HAKEJM"
{"BEAUVAIS"
"LAKE MICHIGAN"
"FELIX ROKABEL"
Outward Wor
May 0 Japa
Balkan Zapat
• Jur
IG
MAY 11 June 22
MAY 20 May 19 May 23 May 23
Itine
Jung 3
Homeward For
N, Africa & Europe £largeisjes via: Manila
N. Africa & Europe
† freight for Saigon, Alexandria. Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre Dunkirk, Antwerp, Rotterdam & all Mediterranean ports vin Marseillen
Madagascar by Transhipment in Saigon or Djibouti Subject To Chango Without Notice,
CIE DES Messageries MARITIMES P.O. Box 53, Hongkong Queen's Building (gr. floor) Tel. 26661 (3 lines);
EVERETT
E
LINES
EVERETT ORIENT LINE
Fast cargo and passengers service refrigeration space available for Korea, Japan, Chine,. Philippines, Indo-China,, Siam, Malaya and East Coast Indian Ports.
"REBEVERETT"
Arrives May 8 from Singapore. Sails -May--9-for-Japan.
"BRADEVERETT"
Arrives May 12 from Manila.
Sails May 13 for Singapore, Penang, Calcutta,
Rangoon
&
EVERETT STAR LINE
Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Slam, Malaya, Ceylon, West Coast Indian and Persian Gulf Ports,
FIRST CLASS PASSENGER ACCOMMODATION M.S. "NORDSTJERNAN”
Loading May 12 Suling May 13
M.S. "THAI"
Loading May 19 Sailing May 20
for Singapore, Bombay, Karachi & Persian Gulf Ports.
for Singapore, Madras, Colombo, Bombay, Kara- chi &
Gulf Persian Ports.
EVERETT STEAMSHIP CORPORATION. S/A Queen's Building, Telephone 31206, Chinese Department: Telephone 28293.
OFFICES AT
TOKYO-YOKOHAMA-KOBE-OSAKA SEOUL-PUSAN
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S. "LEXA MAERSK"
M.S.
"LAURA MAERSK❞
M.S.
"LEISE MAERSK”
M.S. "LEISE MAERSK"
M.S. "GRETE MAERSK”
M.S. "OLGA MAERSK"
ARRIVALS FROM U.S.A.
Butler Revelations On British Trade
Japanese
Dollar Exports
Decrease:
Bonds
Decline
London, May 3. Tokyo's May Day rlots shook the London Stock Exchange.
noi
Sterling Trade Higher
(FROM OUR OWN CORRESPONDENT)
London, May 4.
Mr R. A. Butler, Chancellor of the Exchequer, in a speech last week to the association of British Chambers of Commerce, gave further details of the trends in Britain's overseas trade which gave rise to the recent heavy losses of gold and dollars.
Part of the story has already been told in the United Kingdom balance of payments figures for last year.
Our overall deficit of £521 million was made up of an even larger deficit with. the non-Sterling world-amounting to £760 million—and a surplus of £239 million with the rest of the Stering Area.
It was
the round of hends being cracked in the street on that historic day-tra market is rather used to that -but the intense nationalisni
rioters displayed by the stuntly valsed the question Govern- whether the Yoshida ment, with its marited friendli
The greater part of the de- ness towards its foreign credi-
than eripration in our non-Sterling ters, could survive more
irade took place in the second a few months
Thus, while Japanese bonds were heavily half of the year.
of the exports to the rest Rold but borgain hunters, cone
Storling Ar
Area rose in value by 21 vireed that
attair the Tokyo
the Arst and per cent between per- was a solely Communist formance, rushed in and bought, second halves of the rest of the
Japanese 1030's gained £2 to year, these to the rest of £144% compared with their world actually fell by four per pro-Monday peak of £140, and
This tendency for British ex- 1007's gained £1 to £130.
All this took place in the
porter's to seek the relative week
which the safety of Commonwealth markets neglect the important, Japanese Government deposited and to £20,000,000 with the Bank of though
risky, more
markets England as evidence of its good outside the Sterling Area showed intentions to redeem part of little sign of diminishing in the
Its Sterling dicht.
frst two months of the present year.
Sta
Gorman bonde fluctuated a mrst violently Ds Japanese bonds.
The 7 per cent potash ipans closed with a loss of £3 to
£ 106.
The markets elsewhere, free from Incidents, drifted mostly bit lower, though Rolls-Royce gained 15.
tent.
tho
In these two months, Mr Butler said, our exports to Sterling countries were at a rate per cent higher than in the second half of last year.
But the increase in the vitally important sules to nen-Sterling countries was only two per cent. and dellar experts actually fell
Dunlops improved 94. but Vickers lost Bd, and Woolworths | by 13 per cent.
Turnover was very small.
The Chancellor gaye figures to British Government's unitariyilustrate the lack of balance be
tween: Sterling and non-Sterling drifted lower, with Old Consos tende in some of Britain's chief Josing to 80% and other issues mostly down United export goods. Most striking af were for textiles and
Press!
HONGKONG SHARE MARKET
(From Our Correspondent)
Business was almost stagnant this on the Stock Exchange
during morning, total volume the session being only $92,497. Noon quotations merning's transactions:- SRARES BUYERS GELLERS GALES BANKS.
HK Bonk East Asia
INSURANCES
1303 1460
14
Teton XD
720
5%
1nderwriters
HK Fire
SHIPPING
Asta Nav.
DOCKS, ETC,
K. Whal
N. PL. Whait
1.45 1.70
Dock XD
..10.70 Provident ... 11.00 Rhal Dock. 1.63 Wheels:...
4116
LAND, ETC.
11 Hotel
HK Land
HIC Land (B) 405
HK Land (B)
18
S'haf and 1.35
Humphreya 1015
UTILITIES
Гекль
and
the
ISCO on 5 50 40142
200 6.70
100 43
these
clothing.
RECORD SPOILED The whole of the fall in value of exports in this category between the Arst and second halves of last year occurred in non-Sterling markets which, by January and February this year, were taking 27 per cent less, while Sterling countries were taking seven per cent more.
cent
Exports of engineering goods showed much the same fondeney, Eetween the two halves of 1951
they rose by 21 per cent as far as the
the Sterling Area was con- cerned, while those going elsewhere fell by four per rent. But, though machinery sales outside the Sterling Area in the frat two months of this year wors 19 per cent above the rate for the Brst half of 1951, the record was smewhat spoiled by the fact that the increase in machinery exports to the rest of the Starling Areo was even greater at 43 per cent. The Chancellor, therefore, stressed the importance of in creasing the non-Sterling propor- tion of our trade.
The
engineering industries
have the best chance of auccess in this new export drive, he added, and it is in this section of the economy that the greatest Improvement in production is ex-
1.70 600 * 732 pected.
DOUBTS ́EXPRESSED But it is one thing to expand 1000 150 production and quite another to
sull
16.10 16.30 600 x 10
ТУ Trate (0) 25
Star Ferry ..
C. Liget
XD
C, Light
(N) XD
Electric Telephone INDUSTRIALS
Cement
Detry
Wation
Watson
it. Already doubts
being expressed about our ability
to
And
400 10.10 take the place of those which
have either been restricted through direct government action 8.5 or are less Important to
Our
alternative markets to
4.40 B.13 Bon th
5.40
ན་
-21 21.10
15.10
May 18 June 2 17 June
14%
Rope
17.70
STORES, ETC.
14.50
May 14
Juno ཚོ། June 16
For Freight and Further Particulars please apply to:-
AGENTS:
JESEN & CO.
Pedder Building.
Tel: Nos. 36060-9.
L. Crawford
COTTONS
Ewo
والد
2.40 2.20.
MISCELLANEOUS
Yangtze ***
1500
4.40
1800 a 1983
500 62 23 131 2
purpose of
base of achieving an overall bulance of trade.
It has been pointed out, for example, that
exports of
oltr
i machinery may be adversely
affected by the present worldwide recession In the textile industries und the amalier, though still serious, decline in demand for certain other consumer goods.
nur IZ this should happen, efforts to achieve a balance of payments by the second half of
Exchange Rates this year-largely through a shift
Business was done la the local this unofficial
market Exchange morning at the following rates:-
4.515 1.9, dollar (per $1), Sterling hots (per dij
14.04
Indonesia guilders (per 100)
Piam ticals (per 100)
Hingapore (Straits)
FIC plestres (per 1001
20.50
in the emphasis on exports from consumer goods to engineering goods-would be seriously under- mined. The
worldwide trend towards 3.05 higher interest rates, and other measures which have been taken 1.745 to restrict credit, will also have. 12.70 their effect en British export
prospects.
Pacific Far East Live, Juc.
DIRECT
Fast Regular Trans-Pacific Servico
HAN FRANCISCO, LOS ANGELES
OVEMAND NEW YORK-CHICAGO-DETROIT-TONONTO MONTREAL AND ALL AMERI CAN 8. CANADIAN UITIES
Guam, Marinas Islands, Micronesian Islando - Regular Service direct or with transhipment.
Vessel
Frens
... LUCKENBACHI"
"CONTEST"
“HAWAII HEAD".
Streita San Francisco San Francisco
¿
Linnita
Arsiyon
May 6 May IL
May 27
June
May
May - 129
May June | 2
"JAWALI, BEAR"
FOT
San Francisco, Be Los Angeles
vip Kobe San Francisco & Los Angeles Fenne, Singapore & Manila
Says Pranelice & Los Angole),
via Spe
For full pariloufars all United States Lines Co, General Agents, Queen's Buildior, Tel: 28190.
Cuts In Government expendi lure, in particular, are bound to reduce demand for heavy capital equipment for development pro- jects equinmont, which this country hoped to supply in targe quantities.
AUEFFIELD SPEAKS UP But these are not the only Bimculties confrenting the
exporter,
day The British after Mr Butler delivered his messago to the Association of British
Com- of Chambers merce its members heart an outspoken attack
by Government's export polley. ane of the delegates to te ang nual meeting.
on
pletely hamstrung by Govern- ment departments.
"The markets of the world ere being closed against us.. first by our own oficialdom in this country, and secondly by our own restrictions oversens."
This is a point of view that has been heard often in recent weeks, How, it is being asked. can British exporters hope to develop new marketa when the Government
made
more difficult for other coun- tries to trade with us?
· Page
Royal Interocean Lines
#TASMANI "TILPONDOK
"STRAAT
MAKĄSPAR" -TEGELDFAGG "TJILUWAIF
**TJIKAMPEX"
**RUTE"
"THWANO"
"EASTWAY** **TEGELBERG“
SAILINGs
May
May 10 May 14
May's
May 20 June
June 1 June 8
- Singapore, Perapy & Melawan; Delu
Manila, Singapore,
9. Africa 4. Amarlen
Japan
Mauritiu
Hingapore, Bjakarta, HIBATAGE.
y dúrabala & Maraisar
DYAKRETA, Titrebon, Hemarang,
Nutabala Atacamat
Japan
Singapore, Djakarta, Semarang,
Burabala & Marine Singapore, Penang & Belawan Beij Manila Singapore, Mauritius,
5. Afțies à 8. Amerion .. Djakariak: Tärsbon, · · Bemarang,
Surabala & MRCASMIT
-Homarang,
Singapore,
27jakarta,
surabila; "&" diktatura
Djakarta,
Sürahila & Mazatlar
Bemarang,
Silrahan, Aamarangé
VRUZADAIR 4. MegaKapr Manija, Bingapore, Penang
1944. Africa i
"THRODAS"
dune 30
"TJLUWAU"
June 16
"TJITIALENOⱭKA" "EIWANGI"
June 25
Japan
July
Bingapore,
"TJINONDOK”
July
2
Djakarta.
'#TJIPANAS"
"BUY"
July
#
July
THLUWAIT
"TIKAMPEK" "TJWANGI" "TJIBODAS"
July 18
July 23
Aug. 2
AVE.
,
'Aug. . D
planlia,
"STRAAT BANKA"
To yield to their demands "TITJALENGKA” and retreat from the principlus established by the post-war in- ternational trade organisations, however, would
this expose country to even greater criţi- cism,
QUOTA EXHAUSTED But the alternative is to in vile retaliation
countries by which have been fur by our import restrictions.
Europe, Exports to Western however, now rank equally in the importance with those to doilararen, for in future the A large part of the recent
whole of any British deficit British
import restrictions fell
with the European Payments an goods which this country Union will have to be cellled roimally imports from Wes-in
ern Europe, Now some of the countries which have been. affected by these cuts are be- ginning to complain,
THE FUTURE
Already this has resulted in the breakdown of trade talks between Britain and Holland over, the question of
special treatment for traditional Dutch exports to this country.
Holland's complaint, moro- over, shared tern European countries rely upon the British home market for the maintenance of their own export trades in specialised goods.
sold from Paris say that.
Britain's deficit with the Union In April was only a little be- low the March figure, so that have to pay we, will
Again some US$50,000,000 in gold.
This virtually exhausts
the United Kingdom's quots with the Union, so that in future any deficit will have to be settled entirely in gold or dollars.
by other Wes- New York Stock
which
Thoir orgument is that they should have been granted at least a minimum share of the British market for their tradi tional exports instead of hav- Ing to compete with other countries within the limity Imposed by
quatas"
Exchange
"TASMAN"
TIPONDOR" "BTHA AT
Aug. 14
Manila, singapores.Mauritius,
B. Africa & M. America
Singapore, Jakar
"Mūrabala d' Maraskar,
Sakarta,
Firebon.
"Hurabalk & Macassar
Singapore, jakaria,
surahiala & Macassar.
Semarang.
Bemarang,
Hergareng,
Plakaris, Tjirebon, Sentarang,
Hyrabają de Maraisar
*Blogayare, ・
·S. AEPICA 4 .. America
Bingapore,
Mansliiga,
Djakarta, Semarang,
Surabala & Macauer
ARRIVALS
1
+
la Port
play
MAKARBAD" "TEGELBERG"
"THLUWAJE
May
May
HAY Iz
Japan
Здрав
Frota
America, 8. Africa,
Singapore, Djakarta
Maukiu,
* Manila
Macassar, Karabala, Semarang
Djakarta & Ringapore'
General Agents.
HOLLAND EAST ASIA LINE
SAILING TO EUROPE
"KIELDRECHT“
AAGTEKERK" "BLITAR
"ALMKERK**
SAILING FROM EUROPE
"AAGTEKERK"
"BLITAR"
"ALMKERK" "ARENDEKERK" "KIELDRECHT"
New York, May 3. PENINSULAR "Wait and sec was the watchword on the stock market today.Traders beosted--prices fractionally indull dealings
Steels were steady. Motora were quiet. Of 749 issues traded narropy562 advanced, 229 were "global changed and 108 declined.
This raises the whole quen tion of future trade relation
has tried to ships. Britain preserve the principle of "non- discrimination but in doing BO hos antagonised come
most valued customers.
Dow Jones averages, at the end of the session stood follows:---
30. Industrials 20 rails 15 utilities of its 40 bende
.260.65
£3.50
48.55
98.05
United Press.
BEND LINE
FAST
SERVICE
TO UNITED KINGDOM AND CONTINENT
"BENLEDI"
Loading Hongkong 16th and 17th May
'W.
DIRECT TO. SINGAPORE
THENCE
LIVERPOOL, DUBLIN AND HAMBURG.
R. LOXLEY & CO., (CHINA) LTD. York Building.
Tel. 84165 & 88710..
Eastern & Australian S.S. Co., Ltd.
S.S. "NANKIN":
direet for
PORT MORESBY, BRISBANE, SYDNEY, DUNEDIN, LYTTLETON, AUCKLAND.
LOADING 10th MAY SAILING 11th MAY
For Freight and Particulars please apply
the MACKINNON, MACKENZIE
Mr G. N. Flathor, a' shemeld steel manufacturer, said:
are quite frankly completely tired of being told export of die' when our efforts are "com-
May 10
June
July
Aug.
Balls
Rotterdam
Arrives Hongkong
Salied
Apr.
R
*Miny
Apr.
India
ajay
July
July
2
Aug,
Aug.
Sept.
& ORIENTAL
QUIS HOS
STEAM NAVIGATION COMPANY
R.M.S. “CARTHAGE”.
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
SPECIAL NOTE:
EMBARKATION:
PENINSULAR
FRIDAY, the 9th May at 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Rombay, Aden und Port Said.
ALL passengers baggage must bo sent to the Hongkong & Kowloon Wharf Co's Godown at No.. 2 Gate, Canton Rond-Entrance by Noon on Thursday the 8th May, 1952.
With the exception of hand packages, carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co'a Godown for loading on board by ships's slings only.
+
WII take place. FRIDAY, the 9th May, 1952 between 9.30 a.m. and 11.00 a.m.
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M. S. "CHUSAN”
BAILS:
NOTICE TO PASSENGERS
BAGGAGE:
SPECIAL NOTE:
&
CO,
OF HONG KONG LTD.
Agents. hone: 27721
EMBARKATION:
THURSDAY, the 8th May at 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Bombny, Adlen and Port Said. '·
ALL passengers baggage must bat Bent to the Hongkong & Kowloon Wharf Co's Godown at NO. 2 GATE, CANTON ROAD ENTRANCE BY NOON on Wednesday the 7th May, 1952.....
With the exception of hand packagos carried. by nassengers themselves, ALL BAGGAGE must pass through the Wharf Co's Godown for loading on board by ships's slings only."
Will take place THURSDAY, this 8th- May, 1952 between 9:80, 8.m, and 11.00a.m.
No comments yet.
Private notes are available after approval.