1952-05-30 — Page 9

MESSAGERIES M

"DIR HAREIM”

"LA MARSEILLAISE” """"MEKONG"

THE CHINA MAIL, FRIDAY, MAY 30, 1962.

MARITIMES UK INDUSTRIAL OUTPUT

MGain Of Only

Only Three Per Cent In Year

Arriving Leaving

June 22 ́ Juno' 29 June 30 July 1

·July, 19. July 14.

+"LAKE MICHIGAN” .....June +"MONKAY"

"LA MARSEILLAISE”

*BIR HAKEM”

June 11 July 1 July 11 July 12 July 10 July 20

*For Passenger and Freight.

Ontward For

Japan

· Kobe 4. Yokohama Japan

Homeward for

H. Africa & ED100# N. Africa a Eurova

·Marselfies via Balgon N. Africa & Enjoya

r

† freight for Salgon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Autwerp, Rotterdam & all Mediterranean ports via Marseilles,

Madagascar by transhipment in Salgon or Djibouti.

Bubject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES P.O. Box 58, Hongkong Queen's Building (gr. floor)

EVERETT

Tel, 20051 (3 lines).

LINES

EVERETT ORIENT LINE

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

"REBEVERETT"

Arrives June 6 from Manila.. Salls June 7 for Singapore, Penang, Rangoon & Calcutta.

"LENEVERETT"

Arrives Sails

.

June 20 from Singapore. June 21 for Japan.

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. "STAR BETELGEUSE"

Loading June 24

Sailing June 26 for Singapore, Madras, Colombo, Bombay, Karachi, Basrah & Bahrein.

EVERETT STEAMSHIP CORPORATION S/A

Queen's Building, Telephono 31206," Chinoza Department: Telephono 28293.

HONGKONG

SHARE MARKET

(From Our Correspondent),

Malayan

Smelters By-Passed

Tin-producing

countries

Asia Economic Conference A Possibility

Karachi, May 29, The special envoy of the Japanes Premier. Mr Tuketera

Ogata, declared today that Japan is com sidering calling an Asian economie confcranes to study the question of the rebuilding of South-Engi Asia, which, he said, la necessary in the face of the Communist threat, «^

Dir Ogala wae speaking on his arrival from Now Delhi. He is on his way back to Tokyo after an ex- tensive tour of Asian coun- triển.

The sole aim

of his missfost, he stated, was to renow contacts with the Asian countries interrupted by the war. He will leave for Bombay and Colombo on May 31-Franċe-Prosse,

House Loan

Interest Going Up

PRICES MAY BE FORCED DOWN

Startling Contrast With Former Enemy Countries

London

· Industrial output in the United Kingdom last year rose only 3 per cent compared with 1950, Japanese production rose almost 40 per cent, and in both West and East Germany the increase was over 20 per cent.

Of 30 leading industrial countries, all except Denmark increased their production more than did this country.

World production, as a whole, increased by about 12 per cent, largely owing to rearmament, although the supply of civilian goods was main tained, and even increased in some countries.

Was tho These figures are given in the ; current account, deficit "World Economie Report, 1950- United States to decline, was

prepared by the United reversed in 1981. : *** S Nations for the session of the Economic, and Social Counell,

51,

The report observes that, after a year-and-a-half of rearmament activity, the world produced more 1951 than in any goods in previous year,

The expansion In Industriet production last year was even greater than in 1950, chlaßy be

the

expectations couse

of scarcity, on which the raw material boom in the second half of 1950 had been bared, provet | exaggerated,” and, secondly, rŮS armament was slower than expected.

LENB DEMAND

The rate of growthy of in- dustrial

In production

the developed private enterprise economics appears to have slowed down during the second half of

a

1951 and early in 1952. While the production of armaments and London, May 20.

continued to investment goods ex-rise, the output of consumer Property prices are

owing pected to go down because goods dropped

Blackening

of consumer demand. of the higher interest de-

In the centrally planned manded by bullding economies increases in Industrial socleties on their loans. production, in 1951 wore general- ly in line with economic plans. The

to 300

bulkling main

The report draws attention to societies have put up the mini- the fact

throughout the the mum rate of interest on ad-post-war period there has been

owner-occuplare

to little

in progress in 4% per cent. Before, in most many of the under-developed cases, was 4 per cent.

countries. Increases in industrial

vances to

The Council of the Building dedded Socletles' Association

or no

that

industrial

|

"Or major importance, finally is the fact that the recent apurt of production In

the Industrially developed countries, while, the progress of the under-developed countries has remained slow, bas served to widen still further the production gap to be bridged by the under-developed countries.

"Indications. are that the technical obstacles to expanding production in the industrialised countries which had been feared in 1850 wore rapidly overcome in 1951 and are of diminishing concern in 1932.

"There is, indeed, evidence of available capacities in these countries not only in Light ID- {dustry but in certain branches of durable goods production as well. NEED FOR ACTION "Supplies of capital goods available for

export from the industrialised countries are not likely, even under current conditions, to be smaller and in some cases may well be larger than in 1951.

in .1092

"Theat facts lend new emphasis to the present need for some kind of inte

international action designed to bring about an adequate in- ternational flow of capital to the underdeveloped

countries, elaborate now techniques for stabilising the demand for and prices of primary commodities traded internationally, or to in- traduce other arrangements that would, under mutually acceptable conditions, enable the Indus- trialised countries to increase the supply of machinery azd equip ment to the this

under-developed

production in these countries be- tween 1950 and 1951 were, with some exceptions, small by com- to recommend this increase to parison with those achloved by its members. The council also other countries during recommended that socicules

Hesperiod.

on shares and 2 per cent. on ordinary deposits, Income tax being paid in each case by the society.

should consider Increasing or investments to 114 retts Industribilised countries, which are predominantly exporters of manufactures and importers of raw materials, suffered a de- terioration in terms of trade of about 10

10 per cent between the first halves of 1950 and of 1961, in the second half of 1951. Losses followed by small improvement

of the raw material importing countries in terms of trade were the counterpart of the Hains of raw material exporters.

Each building society have to decide if the higher her should be rate

charged on existing mortgages or only on new loans. Many will try not to pass the extra charge og to old customers,

_LONGER_TO_PAY

are

Some building societies already charging 4% per cent. on their loans. It is unlikely that they will increase charges further.

If this has to be done, it will tant the not generally mean weekly repayment amount will go up. It will meen a longer period of repayment.

The Government hope the higher interesl operate in this way

that

rate

will

A

man.

can

knowing how much he

afford to repay a building society

loan,

will drive û harder bargain in buying his house to allow for the extra in- terest. This will harden in

the market and make sellers drop their prices.

Singapore, May 29. Business on the Stock Ex-Southeast Asia. are by-passing change this morning amounted Malayan smelters and selling ore to $67,022, Noon quotations direct to the United States in and tho morning's trans- actions:

SHARES DUYERS SELLINS, SALER

BANKS

Dank

Fort Asia...

INSURANCES

Canton

Union

1360 141

GO 22715

140

Underwriters

5.00

lk Fire...

-142

SHIPPING

Asta Nav... 1.80

DOCKS, ETC.

K.. Where .. 70 7744

N. P. Wharf

XD******

Provident 10.70

Shal Dock..

#16

10.70 114

Wheelock... 4014 415

LAND, ETC.

TIK Hole!

lx Land

Bhai Lanet

UTILITIES

Star FerrY

C. Light (D)

6007

14

1.

C. Light (NÍ 129

Nectria

INDUSTRIALS A

Cemente

STORES, ETC.

Dalry Watson

Crawford

8

180721

.700 0.14

return for dollara.

Mr E. M. F. Fergusson, Chair. mon of the Straits Trading Company, told the annual meeting of the company that tin ore available for melting lost year showed a drop of three per cent from that of 1950 owing to smaller imperis,

"The objective of a largo portion of International trade nowadays is to acquire U.S. currency," he said.

"The devices which are used for this purpose are many, and to the disadvantage of normal trading,

"The remedy lies in freely convertible Sterling, but how this will be achieved is difficult 10 Gee nt present, though naturally we all hope that a right solution will be found."

MY

referred to ill- Fergusson feeling in the United States

by created

sentiment that Malayan tin producers were "gouging" American buyers.

Since the visit of the American Tin Mission last year, no added, 18,70 18.00 500 16.00 there had been a cessation of

the ill-natured comments.- Associated Press,

20.70

3911

Aid

Exchange Rates Formosa Plans

JMC

Business was done in the local. unatical: archanio morning the followinE · RAVES?=

Talpal, May 20.

A leading Surrey estate agent said: "We are already anding

dimeuit

sel houses."

it

mord

to

MAJOR ELEMENT These developments constituted. a major element

affecting the balance of

payments of most countries.

With

the notable exceptiona of France and the United Kingdom,

most of the lending industrialised countries increased their trade surpluses or reduced their deficits in 1951. At the same time, the tendency in 1950 for the rest of the world's

Philippines Faced With Flour Crisis

Manila, May 20. The Philippines, already faced with a rice shortage, is running out of another staple food-flour,

to

countries so as to enable them develop their abundant name t resources as well as to meet the demand of their trading partners," the report concludes.

Firmness

In Cotton Futures

Now York, May 29. Colton futures showed flirtass $2.50 a bale, from start to finish. Gains ran up

The uncertainties in the Berlin situation and eltowhere in the foreta political picture put dampening

effect on selling activity.

With offerings on the slim sido, the market became more sensitive to persistent month-end mill buying in July.

Britain Given Warning

"TOUGH TIMES AHEAD"

London, May 29. Sir Patrick Hannon has given warning that we are in "for a very tough 'time ahead. A

་

He calls for a strong Empire

10 development polley

help the Britain to sell

it goods makes.

And he added: "We must do as Lord Beaverbrook has asked us to do again and again-think more of the Empire, of lis pas- sibilities and its Immento re- sources."

Sr Patrick, vice-president of the Federation of British In- dustries and a member of the Dollar Export Council, Was speaking in Birmingham.

He talked of America, where a sirong feeling had arisen that "British goods going in there more are becoming more and U.S. contpetitive with

pro ducts.

has

"A series of proposals been made by US. manufac- turers for revision of tariffs on aynumber of-articles: Imported from this country. We do not know what action the US. Government will take on be- half of the continuity of our export strength in that Coun try.

VITAL FACTOR

"But I we cannot export our manufactured goods to the US, on a fair competitive level we cannot pay for the tobacco, cotton and other raw materials. Our balance of trade will be seriously disturbed.

"During the last generation we have been fighting for...the maintenance of Imperial Pre- férence, and the right within the Empire to exchange manu- factured goods from this coun- try for raw materials from the countries of the Empire.

"The implications of the policy must be revised and re- vived with sympathy And understanding by the Primo Minister and the President of the Board of Trade.

"What we need is a give-and- Rubber tyre mentsfacturers

take spirit throughout the Em- became more noticeable buyers in pire, all branches of the Domi now crop positions, supposedlynions, the Colonial Empire, and to fority inventory positions mandated territories. It means against anticipated requirements, so much to the future of this Some, speculative Investment country. That is why I say buying was also evident in later Imperial Preference is a vital months at a discount of 211⁄2 to factor in our national econo- 2% cents under July,

my."

The market opened up 8 to 23 points. It edged upward per- levels in the last half troun. It pistently, achieving the best closed slightly off the top but up 22 to 88 points on this day-- United From.

NEW ORLEANS MARKET

Higher Trend Hisation Corporation (PRISCO) So

In Chicago

Grain Prices

Chicago, May 20.

Wheat futures closed, 1% to 1% higher and soybeans were to 3% higher.

Prices of grain futures closed today as follows:

The Government Price Stab-

July said stocks on hard were sum- October

December cient to lost only a month.

Merch May July

October

an

The Philippines receives anuual alivention of flour under the International Wheat Agree- ment (IWA), but it usually falls short by about 600,000 | bags.

PRISCO has instructed Im porters to bring in sufficient supplies of IWA flour to close this year's gop.

10da

20.00-09.01 36.13-25.85 20.00

136,43

ka.ng

34.68 bid

United Press,

LONDON TIN MARKET

London, May 29, The rice situation remained: The market. was armer. this morning. Turnover was 85 tons

morningceiston

13

Cotton Committee Reports

Rome, May 20.

The International Colton Ad-

con-

Ro

"TRIWANGI"

•EJTONDON-

→SHPANAS"

"RUYA****

B'A'T'L'INGE.

*TEGELBER (1"

*TJRODAR”

June

June

June 10

"PIILUWAR*

Jane Je

“EASTWÄT",

"TASMAN

Juho

MEJIWANGI

July

Joly

July

July

10

July 14

# July

July 27 Aux. Aug.p Aug. 13

Aug. 19

STASHAN" Payswakar

Aug, 21

dept.

*

TIPONDOK

"BOJBSEVAIN" “TIILUWAŃ"

Sept.

Bept.

Sept. 14

7

*T){LUWAR*

#TJIKAMPEKU HEASTWAY **TJIWANDI"

**TIITJALENGKA”

JIBONA

“TJILUWAR*

TJIWANGE"

"TASMAN"

TEGELBEC" *THLUWAN"

Page

EINES

lang Singapore,. Diskarta, Bemarang. "Borgbala & Macassar Atatiza Binenpore, Mauritium

5. Africa 8. America-

DJakarta, Tiirebon, adiderant,

surahain & Macassar

Singapore,. Djakarta, Semarang.

Surebals & Macastle

Singapore, Pohang '& Belawan Dell Singapore, Penang & Bulawan Beli Singapore,

Jakarta, Semarang,

Butabala & Machitar Djakarta, Tilsohen, - demarrog,

Hurabala & Macasar

Atenia, Singapore, Penang

E. 8. Africa

Manila, Singapore, Maurition

9. Aftica à 8. Alterica Зарад

Singapore, Diakaria,

SemaranÉ.

Surubala a Dinesscar Djakarta, Tiirebon, Semarang,

Burebala # Ancausar

Singapore, Penang & Delaian Doll AMMERITO, Djakazi,

Madila,

rabala & "Macassar

Singapore,.

p. Antica & 6, America

Djakarta,

Demarang,

Mauritiu

Jirebon, Sumarang.

Barabala & incassar...... Singapore, Djakarta. Bemarang.

Hurabata & Macassar

Singapore, Penang & Belawan Bell demaraus.

His spote, Djakarta,

Surabala a Macassar

Djakarta, Tirabon, Semarang,

5.

Burable & Macassar Manila Bingaporo, Mauritius,

Africa & S. America Singapore. Djakarta. Semarang,

Swabale & Macassar

ARRIVA L-8

in Port.

JUBE 4 June

J10 12

From

Macri, Burabals, Semarang,

DJakarta Singapore

Penang. Belawan Deli & Singapore. Japan

Macassar. Surabala, Sebintang,

Djakarta & Singapore

General Agents,

HOLLAND EAST ASIA LINE

"AMENDSKENR"

SAILING TO EUROPE

MAACTEREDI”

Juna

"ALITAN"

July

"ALMKERK”

Sept.

Bas

Botterdam

Balled Apr.

29

May

Jnly Aur

SAILING FROM EUROPE

“OLITAN" "ALMK ERE” "ABENDİKERK" "EIELDRECHT" "AAGTEKERK”

Sept.

----

Arrives Hoogkour

June

Aug

舞站。

Oct.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK. BOSTÓN, BÁLTIMORE & PHILADELPHIA vẫn

BAN FRANCISCO, LOS ANGELES AND PANAMA, -

NEXT SAILINGS

M.S. "LAURA MAERSK” M.S. "LDISE MAERSK” M.S. "GRETE MAERSK”

ARRIVALS FROM U.S.A.

·M.S.--- "GRETE – MAERSK” MS. "OLGA MAERSK” M.S. "JEPPESEN. MAERSK”

.......

June June 17

July

June 7

June 19

June 29

For Freight and Further Particulars please apply to:--

AGENTS:

JEBSEN

Pedder Building.

The Rubber

Markets

Singapore, May 29.

Prices of rubber futures clos- ed today as follows:-

Number 1 rubber, per ib.

June

July

August

Number 2 rubber, Juna Number 3 rubber, Juno Number 4 rubber, June Spot rubber, unbated Hanket crepe No. 1 pile crepa

CO.

Tel: Nos. 36086-9.

FOREIGN EXCHANGES

IN N.Y.

Canada -England-oficial

02-2314

010-201

17-774 | Australia

25-20

unoMetal

New Zealand

32-821% South Africa

02-05

100-105

United Press... ¡

LONDON MARKET

London, May 29.

| visory · · Committee, which

cluded it-eleventh meeting, wild that the consumption of cotton Number 1 rubber, In pence during 1031' would, show, one of the three highest figures of · all' time.

Prices of rubber futures closed today as follows:--

World consumption of cotton level in 1930-51 in some mea- was pushed to a record high

confused.

of which Ave tons were for cash. sure by speculative buying and Wheat-price per bushel

Faced with a shortage of Prices closed at the end of the holding of cotton goods. 150,000 tons this year, the Na- official 3.423 nominalonal Rice and Corn Corporation follows

36-3.34%

(NARIC) has been attempting Spot fin, buyers to bring in the much-needed Spot un, geileri, cereal within the shortest pree-mantha in. sible time.

Bugners done at Battlemens

Spot July September December

March (1953)

Coru

Bpat

July Reptimber

December

21arch (1953)

Ryo

July

Mr. C. L. Terrel, deputy chiet September

market

ABIA

U.S. Qullac (par:$1))

6.143

Bierling nots (ave 43)

10.99

Indonesia" "Kullders (per 100) 450 3:14

'Blah_tleafs (per/100)

Singapore (Beralla).

FZC" piastres (per 200)

$3.00 1.70 21.15.||

of the Mutual Security ARCTICY in Formosa, left for Washington yesterday to discuss this year's July Industrial and economic asala tance programme for the laland,

Associated Press,

Oala

1.3.0214

1213-77 Beptember

7016-38 New York Beutuner 300 b. sack,

It has signos contracts for importation cí,88,000-tons of rich, but so dar no performance bonds have been posted by importers.

Bukineza dene At

per ib. Juine Augurt September Juy/Eeptentier October/December January/Marchi

New York. May, 29.

US$1,017

4.781

2.00 bid-

21.03 skod

#

30-day futures 90-day future

2.785

2.2014

2.7812

1465

France

*u;:

D023-0/14

West Germany

Holland

Italy

Belgium

Denmark

Norway Portugal

Spain Swordan Switzerland

Middle East

2434-35

2.88%

Iraq

2.31

Turkey

4315

United Preis

Latin America

Argentina Braxit

$500

Bolivia Chille

Colombia

exte

Uruguay

Venezuela

Far East

Statement

Paris, May 20

The International Committee Bank Of France concluded its 10-day session of the Food and Agriculture Or ganisation 1 Headquarters, horo

Statements from delegates of soais-bar|the 25 member governments da the 'cetion situation” în „their Fed Brass.

countries and un conditions. In the world as a whole were

buyets.

Previous attempts to bring in JAPANESE BONDS published

nice have Talled no a xerult of the failure of importers to post such bendi.

* Japanese bonds

London, May 29.

N7"A" (43. of 1889). Jag 10.

"B" (48 of 1819)

(7 of 1934) CHS OF 1907)121

A Congressional commition of Inquiry investigating the short- uge diamed the MARIC for 1 emizleney, and effort-sightedness, in failing to bring in a rumdient supply at rise carlier,Astaclated Console Prais

84

**** (0kn, of 1984).

ATTRADITYA

120

-

-The statanonta såld that world chiton slook had materially in- creased and had now' reached a tovel where the avaliable supply was deproximately, in balince- with demand for

year ago WEX & source of concern The supply position, which is to empering countries, had 57% becothe Homeyart essier United.

From?

|

"The Bank of France statement | Pakistan for the week ending May 21 Tongkung 44) Indonesia, reads as follows:--- it

Bingapore Tetal gaid holdings Fri. 191,448,578,928 Japan. Total of ather cur-

3,385,004,203 16,318,003,000

rencies...SHE Bight DALANEGA

Abroad Advance,to surrens,

sy stabilization

Bills discounted' in. France...and. abroad. Notes in circalation Current: accotusta

, and, deppeita manera

1188

340 yen 10 US$1

-United Proks.

Pound In Brussels Brussels, May, 201 The Pound Sterling reached 630.204.300,002 the official rate-140-Belgian 1,965,007,930,070 francen a

Belgian Troo

2-906,410,253

markot Prem

Joday

Ascociated