1952-05-15 — Page 9

THE CHINA MAIL, THURSDAY, MAY 15, 1952.

MESSAGERIES MARITIMES THE COTTON SLUMP AND

MOM

"NIN HAKEIMI”*·

+BEAUVAIS"

"FELIX ROUSSEL"

"LAKE MICHIGAN"

Arriving TanYIKE

10

June 23

.May 10

.May 23

Outward "PAT

Тарап

Homeward For

. Attica & Europe MAY 20 May 13 Marcollies via Mispūą June 5 Jung 7 4. Africa & Kreepy freight for Saigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Hayre Dunkirk, Antwerp, Rotterdam & all Mediterranean ports via Marseilles.

Madagascar by Transhipment in Salgon or Djibouti

Subject To Chance Without Notice,

CIE DES MESSAGERIES MARITIMES P.O. Box 58, Hongkong

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

EVERETT

LINES

EVERETT ORIENT LINE

Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya and. East Coast Indian Ports.

"BRADEVERETT"

In Fort

.loading

Sails May 13 for Singapore, Penang,

Rangoon &

"NOREVERETT"

Arrives May 20 from Singapore. Sails

May 30 for Japan.

EVERETT

Calcutta.

STAR LINE

Fast cargo and refrigeration spaces available for Korca, Japan, China, Philippines, Indo- China, Slam,Malaya, Ceylon, West Coast. Indian and Persian Gulf Ports.

FIRST CLASS PASSENGER ACCOMMODATION M.S. "NORDSTJERNAN”

In Port

loading

Sailing May 15 for Singapore, Bombay. Karachi & Persian Gulf Ports.

M.S. "THAI”

Loading May 20 Sailing May 21

for Singapore, Madras, Colombo, Bombay, Kara- chi & Persian Gulf Ports,

EVERETT STEAMSHIP CORPORATION S/A Quoon's Building, Tolophone 31206. Chinese Department: Telephone 28293. OFFICES AT

TOKYO-YOKOHAMA-KOBE-OSAKA SEOUL PUSAN

PATTISON ORIENT LINE

LIMITED

S.S. "LAURE PATTISON”

Due From:

Japan

In Port.

12-14 Queen's Road, Central

Sails For:

DIRECT Puann

& Kobe - May 17th,

CHINESE AGENTS:

U.S. Cut In Rubber Price

Washington, May 14. The United States Gov- erument today reduced the price it charges for prude nalgrat rather from 1815 cent (about 34. 24.) to cents (about 28, 43.)

18

a pound.

Jca Larson, the General Services Adminis. tralor, Bald that the new would be effective price

1 Jung 00 when the give up Government will

excluilve import au- over rabber,

thorlly Renter.

Anglo-Soviet

ITS EFFECTS ON LANCASHIRE

́(By RONALD BOXALL)

There is no difference of opinion in Lancashire over the chief cause of the present cotton reçes. sion. Both sides of the industry are agreed that the sudden decline in trade-at home and oversens -was the result of a world-wide buyers strike against high prices,

And neither side. attempts to disguise the fact that these high prices were the outcome of the inflationary effect of an unduly prolonged sellers' market.

The recession came with dramatic suddenness. Mills, which a year ago, had enough work to keep them busy for six or nine months ahead, found themselves with less

Agreement On than a week's work in hand. Herring Deal

London, May 14. Britain signed a contract with the Soviet Union today to send rer £150,000 worth of cure herings.

Mr James Henderson Stewart, Under-Setary for Scotland, announced the deal in the House of Comptons today. He said that deliveries would be made from Scotland and East. Anglia and if not enough this delivered this the contract, year deliveries would carry on next

your.

The

10

(

of

was agreement negotiated between the Scottish Association of Herring Mer- counts and the Russian trade delegation in London.

Such

large

quantities hering have not been sent to Russia since 1914. Before the 1914-18 war Rusin was a big Berting buyer but

Germany took her place after the 1917 Revolution, Reuter,

Nationalising Bolivian Tin Mines

Patino,

Opinion differs over the exact ended April 12, the total of all timing of this contraction in de yarne spun was 11,040,000 lbs. but most people in the Production in the corresponding mand,

that it would week of inst your was over 23 Industry believe

But since' Good. have been felt sooner thaugh million lbs, with less drastic effect-had it Friday fell in the week under not been for the length of order review, the more accurate com- Good Rection of the

would be with books in every

when week Jast year, Friday trade.

WDS nearly 1714

down and in those

parison

HONGKONG

SHARE MARKET

Page

Royal Interogean Lines

UTUŁYWAH" -TJIHAMBEKÜ

"TJIWANGI"

"TCORENENG" "TJIDORAS"

"EASTWAY"

TĻUWAN"

SAILING 8.

MAY 19

Singapore jakarta,

Remarang,

Kurabija MUCHACAT Galgan, Kilakaria, Tfirebon, Semarang,

Rurakala & Macámar

Japan

Singapore, Djakarta, Semarang,

Surabula & Mikeassar Manila, singapore, Mauritius,

8. Africų & 6. America Djakarta, firebon, Sp.

Surabala & Macuaine

Bingapore, Penang & Relawan Dell SIRIADATO, Jabarta, Kemareas, Ringapore, Penang & Belawan, Dell Japan

Djakarta, Bingapore,

SEMATADE, Hurabata de Markscar Djakarta. Jirebon. Remarang.

Sumabala 29 Marassar

· Miny.

May Julie

2

June, 4

Jane 10

June June 10

13

"TABMAN"

TATJALENGKA"

“TJIWANGTM""

Joly

"TJIPONDDY"

July

"TJIPANAS".

**RUY'S"

July

Manila,

July $

July

16

July

23

201304

"TJIBODAS"

"TJITJALENGKA" "TJILUWAB

TIPONHOK”

"TJIWANGI"

July 27 Aug.

JUE. .7

2

Aug. 9

AME. 10

Aye, 23

Яept. 3

(From Our Correspondent)

activity Slightly, increased was noticeable on the Hongkong "TJILUPÁR" Stock Exchange this morning,

**THKAMPER"

although transactions recorded up to noon did not EXCƑeð | "EASTWAY"

$170,617. The noon quotations

were:

SHARES DUVERS SELLERS BALES BANKS

10% Bank East Asla INSURANCES

Union Tindere

SHIPPING

At Nav,

:333 ግዜ

DRICKA, ETC. 1.50

•P Wharf Am Docks,

S'hai' Dock wheen k

D 20:

1944 4134100 41

! 7-00

Frak Land HK Land (R) M'hat Land UTILITIES

Tram

131 130

JIWANDI"

བྷུ་རྨ't

کو

Singapore, Irnant.

11. & 1. Atrica

4

Manila, Singapore, Mauriuos

8. Africa 4. §. América Kingapore. Djakarla,

Bucabala de Macaskar Djakarta,

Thebon. Remaras,

Suraħala & Mronisas

Singapore, Penang & Belawan Doži

Singapore, Djakarta,

Surabala & "Macassar

Komarang,

Jakarta, Thicsban, SKUSTADE.

Surabala & Morasant

Sania,

Singapore. Mauritius,

8. Africa 48. America

3)Jakarta.

Sturapure,

Suentāla & Macassar

DJakarta,

Tilrebon,

Burstala & MacaskT

Semarang,

Semarang,

Singapore Djakarta, Semarang,

Surabala & Marntiar

ARRIVALS

₤.70

**TJILLWAH" "TJIKAMPEK" "RUYS"

"TJIWANGI"

"TASMAN"

In Port

May 24 Леду 20

29 Jay

May 31

700 10

"BLITAR"

Japan

5. America. $.

From:

Africa, Mauritius,

Singapore, & Maniin

Macariat, Surabala,

Selentargi

Djakarta & Singapore Penang, Belawan Bell & Singapore

General Agents.

HOLLAND EAST ASIA LINE

BUT Terry*** 1500 C. Light (0) 539

100

50.00

SAILING TO EUROPE

"AAGTEKERK" DATA

June

July

"ALMKENK"

Aug.

"ARENDSKENK"

Heps.

Saltı

SAILING FROM EUROPE

noiterdam

Artiyan Hongkons

2,40

+

"AAGTEKENK"

In Part

"BLITAN"

galled Apr.

Зале

"ALMKERK”

May

July

Juty

Aug.

Aug..

Sept.

Electric120.6041.10 600 Telephona 14.32 18 1000 $ 14. INDUSTRIALS

-14.10 14.60 ......'.

17 20

70.20 20.00

Crawfort 33 3345.800 & 334

215 6930

Goods which had, for nearly Production

lbs. six years, sold freely in almost

Fifty-six mills closed world, every market of the suddenly stopped flowing through during the week

which remained open only $1 the "pipeline. The first impate per cent of ring spindles and 67 of the reccasion, so far as the homa market was concerned, was per cent of mulo spindles were

Serious thours. felt by retailers. They reacted active.

this Joss of

Попа by cancelling orders-placed-with-

wever, it 1s Jass wholesalers. Even so, they had production is,

to the STORES. ETC. concern

Dairy to carry large stocks which had

Watson been built up during the boom leaders of the industry than tha effeos of short-time working on period. perio

effect

the manpower situation. Opera- COTTON This had its

right

A trade. ives are leaving the mills at BELLANEOUS the cotton

rate of between 1,000 and 2,000 a through Wholesalers, faced with heavy week and many of them will losses on stock, cancelled orders

return. with the merchants who, in turn,

The industry's peak labour Lake found themselves unable to

forca

Wan

vas reached in November, delivery of orders placed with

1951, when over 270,000 opera- Anishers. The

Atoppage, tives were employed in spinning, the which had

in the shops, weaving, and finishing. So for, begun way quickly

through the 39,000 have left, and the spread

drain

Is weaving and spinning sections, continuing al an undiminished until large stocks were piled up rate.

with

might

never

at every level of production.

This movement away from the This situation, however, not have had such drastic cotton industry has had interest- In effects on recruitment had it not coincided ing consequences had

mant to

other industrica. There is very little

evidence so far to show restrict imports into the Sterling that the slump in the cotton in- Area Commonwealth countries,dustry resulted which had agreed at the January dust: la the number of

with a concerted movement

of the

New

in an

workers employed in defence and engineering occupations--as the Government appears to hope it will,

Ewo

Vingtrze.

N.Y. Foreign Exchange

Canada (deltar) England-official

>

unonjela!

30-day futures „10-day futures Australia (pound) New Zealand pound) South Africa (pound)

·Beigiuri (trane) Denmark (krone) France frant)

West German

Deutchemark Holland under) Italy-ocial Norway Krone) Portugal şeSCURU) Spain (pesetni Aiveden (krože)

Switzerland-fres MIDDLE EAST Egypt (pound)

Iran (diar Turkey (lira) LATIN AMERICA Argentine-official

Finance Ministers conference to increase put

their balance of payments position to right, made sweeping cuts in their import programmes Australia, which In 1951 in-

ONE RESULT La Paz, May 14. The new revolutionary Boll- ported nearly 188 million square varda of Lancashire's Woven

This is because a large prò- vian government

took its first step toward nationalisation of piece-goods, slashed imports of portion of the workers engaged cotton Industry are the tin mining industry today consumer goods to 20 per cent in the

1950-61

level.

women-in some mills over half when the Cabinet approves Zealand also imposai import of all

employed. oncratives decree setting up a commission

rictions which, though less Women of restrictions

the mills Women who leave to study ways and means expropriating the mines of the severe than thbes of Australia because of the slump are, for are nevertheless likely to result the most part, giving up their in the loss of £10 million of employment altogether and going big three companies Rochschild and Aramayo.

Lancashire's export trade. South back into their homes.

Brazit (cruzeiro) Juan Lechin, labour leader

cuta which Their menfolk, either through. Bolivia belivinas)

Chile-free and foremost exponent of im- Africa, lan, made

1 ex-further restrict Lancashire's out the lack of work in the cotton mediate nutionalisation.

Commonwealth industry er becausa of the fear Columbia (pesa)'

Cuba (peru? pected to head the commission. let to overseas

that it is heading for another Mexico (pero)

Peru-trev was directed to markets. The commission was

a plan days

CANCELLED ORDERS slump of the pre-war variety,

Uruguay(bolivar

(pero) prepare within 120

are Anding jobs in public trans- for the "complete legal expro- The effect of those cuts on

port, the police force,

FAR EAST of the tin mines.

or. priation"

Lancashire's overseas trade can Post Office. Youngsters, too, are India (rupcy) The phrase "iegel expropria- bu judged by the fact that in leaving, and one

interesting tongkong

Pkkutan Triple) tian" indicated that an indem- 1951 nearly 40 per cent of all its resalt of this has been that Netherlands East nity would be paid to the owners

of cotton piece-goods exports

waiting lists have been opened of the mines which represent

and over 23 per cent of its ex for

to enter the Singapore youths wishing greatest Bolivia's

national

ports of cotton yarn went to Lancashire coal-mining industry. wealth. Associated Press.

these three Dominion markets. This loss of

The situation has been comel, is less serious

manpower, In plicated by the fact that many industry's long-term prospects

New York

Cotton Futures

New York, May 14.

cents

the

10 the

Inates

Closing rate US$1.01-7/16 2.80-9/15 2.38 bid/ 254 Jaked 2.83-5/10 2.79%

2.61

2,81

019 .1433

.0028-9/10

4.20

"ARENDSKERK" "KIELDRECHT"

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "LEXA MAERSK"

ARRIVALS FROM U.S.A.

M.S. "LAURA MAERSK”

0035

M.S. "LEISE MAERSK"

0500

M.S. "LEISE MAERSK"

M.S. "GRETE MAERSK"

M.S. "OLGA MAERSK"

$108

May 18

June 2

June 17

In Port

June

June. 17.

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN

CO.

Tel: Nos. 36066-9.

3013

3213

369 you 16 US$I

-Uusisa Press.

Pedder Building.

of the orders placed in Lancashire than the effect it has on the New York Sugar

by Australian importers had to average age of the labour force. be cancelled because goods what the industry needs most already in the pipeline

than accounted for this years of all is to attract young workers to its ranks, Factory Improve- quote of permitted imports. The ments and recruiting campaigns effect of this was to enlarge the were having some success in this

17

in

cotton in- the

World

Futures

New York, May 14. sugar futures clused

191 COIL-

4.20 bid 4.30

• nominal

stocks already held by traders direction before the present today one Bigher 10 A lower in Britain stocks which, Prices of cotton futures took incidentally have to be financed, recession set in. Thus, in 1051, we

leaving school in Lancashire. In steep note-dive today with the despite the restriction of bank, per cent of all young people tracts.

Contract No, G closed today fro credit in this country. bears concentrating their

wero entering Nearby on old crop months.

Faced with this contraction in July plunged a 37.70

More im- sales totalling 500 contract per cent in 1038

Prites closed as follows:- pound. The follure of July to demand at home and aversess dustry, compared with only nine unchanges to two lawer t

on studying Enow sustained rallying power and the need to carry cunt portant still, young people were

or partly-

becoming keoner

Contract No. 4 (world) May contract went some stocks of finished after the

zome May Tuesday processed material, mill owners cotton with a view to fling board on the Tel. 25346. | On

took the

the only possible course on

of the Дара

the industry's July brought out considerable

Septembar to them. Production had

of key-workers. This is November ranks Jiquidation

by speculativo

the to be geared to now lovel

Upot dement.

only 3,000 youngsters were discriminate closing The market opened off 6 to of demand, but not by an iny shown by the fact that in 1980

down of

of studying

ing cotton at technical July 29 points. Thereafter

The

schools; by 1851 the number had September hand, was to reduce production schools, by 185

Spol The confidence which was built sufficiently to keep stocks with-

and up in the post-war ydars has} ··· on the other, to

enough now been seriously undermined, the movement of young wark to prevent the

people into the industry has been reversed.

OVERSEA CHINESE STEAMSHIP CO., LTD.

48, Bonham Strand, West, Tels, 26127, 21118 & 31119.

New York Stock Singapore Rubber

Exchange

New York, May 14.

Futures

under gradual

thained mod put pressure very and, on covering by day traders but still shaved losses

ореп

In manageable and

of

of 18 to 52 points at the final. Proes closed as follows-

30.16 nominat the industry's hard-won labour

Spot

July

two.

Singapore, May 14. Prices of rubber futures closed Stock exchange prices dropped about $500,000,000 in valuation today as follows:- with widespread small toes, Number 1.rubber, per .

1024-001% Dealings picked up to 050,000

#31-80 shares for the best of the week. Number 2 rubber, Jime ..

July

604-07 Motors generally casa. Oils Number 3 rubber. June..

4312-04 Of Number 4 rubber, June.. 81 -2 dropped a point or 1,050 issues traded, 261 ed-Spot rubber, unbaled... vanced, 478 declined and 31 crops... No. 1 Dale crepo unchanged,

June

30-00 sa-ca 110-115

Unit: Pre

Brat July October December March May July

Zetaber

Dow Jones averages at the end

pt the cealon stood as follows:

30 industrials

20 rails

15 utilitics

40 bonds

260.00

93.56

49.21

08.04

Unted Press.

METAL PRICES

"New York, May 14,

Pelets in the

OILS MARKET

New York, May 14. Prices in the seeds and oils

market here closed today, un- with the following

changed.

oxéuplions:

Tyng Dil, in

tank car F.0.5.

cars, 15 99%-9

New Yo

Peanut oil, per lb. F.O.B. With the following exceptionsNew York 14.4 cents.,

hero

metal market centy, eloged today unchanged

Solop lead. F.O.E.. per ton,

Flax seed, per bushel, F.O.B. (krovy, sort,) - $11.00 19 $11.25. Minneapol $3.834 United

United Pross

Prusa

37.70-37.80 35.87-26.200

October

25.70 December

35.05 March May

3551-35.85 35.24 July

33.66 nominal October

NEW ORLEANS MARKET

Closing rate May 14.

37.76-37.78 *. 19.05-35.07 99.73 bla 15.60 bid 3344 bid

33.09

33.70 bid United Prest.

London Rubber

Prices

Number 1 rubber, in pence

nor Ib.

force. Even so, however, some employers have found it im- possible to avold shutting down their mills for periode, up to a fortnight. And this has already resulted in serious loss of mah power, as workers have sought

more secument...

Nearly

FOREIGN WORKERS

The number of foreign worker in the industry is also likely to become an increasingly serious problem.

Fifteen thousand people of all mill in nationalities worn brought to in both the spinning Lancashire after the

the Case

critical manpower sections of the is now working a thico shortage,

Some of them'lëve since re- turned to their own countries, show, that weekly but those who remain form un of the labour Cotto proaction of cotton and | important part

ond

or

aur-day week. The latest

oficial figures, issued by the

average rayon sloth in the five weeks force.

雛 was reduced to

the presence of these far, onded Tols 55.22 million yards-three million foreign workers has not been

yards less than in the cor-major problem, but if the situation grows worse and more period of last year.

tween 40 and 00 wesving mills are forced to close dow

Atveraber

4.01 nostal 4.25

Contract Na. 6

5.02 bizi

5.98.3.03

0.00

b.08

-united Press,

London Tin

Market

́London, May '14, The in market broke rammer this morning with sharply

turnover only 70 tons, none for

cash. Prices closed today at the

BEND LINE

ZAT

FAR UN

FAST SERVICE

TO UNITED KINGDOM AND CONTINENT

"BENLEDI”.

Loading At Buoy A-4 15th and 16th May

DIRECT TO SINGAPORE

THENCE

LIVERPOOL, DUBLIN AND HAMBURG.

end of the oficial morning W. R. LOXLEY & CO,, (CHINA) LTD.

session as follows:-

Spg tin, buyer

Business done at

Spatta, voiler

Three-months. Un, Three-nopile unes done at Settlement

Exchange

buyer

038-03615

-United- Press.

Rates

1.5576

London, May 14. mills were closed at various the question of deciding who

way dond in the logi Prices of rubber futures closed times during February, and in should go first the British Business

exchange marks? today as follows:-

those which remained open oply worker or the foreigner will unarucial

ten looms throw a great responsibility on morning at the following rates eight, out of every

dollar (par 91) employers and trade unionists,stering note (per wore active.

Indonesia puliders (per' 109), :.. The latest Bzures for yarn alike, production toll an equally de- (Tomorrow: The Purchase Tax amastiga (per 188)

Slugspore, ((Blzatts) Controversy)

F80 piertres tyre; 100) testing story. During the week

Junin

July/Heptimber

October/December January/Mart

2012-15

York Building.

Tel. 94166 & 38710,

The following publications are now here

IT'S FUN FINDING OUT? "NO HIDING PLACE” "ENJOYABLE COOKERY"

POST.

HONGKONG and KOWLOON.