1952-06-11 — Page 9

THE CHINA MAIL, WEDNESDAY, JUNE 11, 1952.

MESSAGERIES MARITIMES OUTLOOK FOR AMERICA ROYAL

ROYAL INTEROCEAN

M

"KIR HAKEIM”

*"LA MARSEILLAISE”

"MEKONG"

+"MONKAY"

Arriving

Leaving

Jung 36 „July

Jan 24 June 30

July

10 July 10

Tome 20

July

**LA MANSEILLAISE” „July 11 July 12

BIR HAKELM”

July 20 1 ANK

""MEKONG"

Jul 24 Ang. 20

For Passenger and Freight.

M

Outward For

Вирад

Kobu & Yokohama Japan

Minuleward For

N. Attica & Euroas

Marseilles via Sigua

N. Africa & Europe N. Africa & Eurupa

t freight for Saigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterranean purtu via Marseilles.

Madagascar by transhipment in Saigon or Djibouti,

Subject to Change Without Nolice.

CIE DES MESSAGERIES

MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 26061 (3 lines).

LINES

EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space avaliable for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya, Burma and East Coast Indian Ports.

"LENEVERETT"

Arrives June 23 from Singapore. Sails June 24 for Japan.

"NOREVERETT"

Arrives June 30 from Manila.

Sails July 1 for Singapore, Penang, Rangoon & Calcutta.

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 Porta

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "STAR BETELGEUSE"

Loading June 21

Sailing June 25 for Singapore, Madras, Colombo, Bombay, Basrah &

Karachi, Bahrein.

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206. Chinese Department: Telephano 28293.

BELL ACT REVISION DISCUSSION

Manila, June 10.

A 15-man committee on the revision of the 1946 Bell Trade Act between the Philippines and the United States will presa for selective free trade und will not consider extension of the pre- free trade arrangement, according to the committee'r Andres executive secretary, Castillo, today. Meanwhile,

The Rubber

Markets

Singapore, June 10. Prices of rubber futures closed today as follows:--

Number 1 rubber, per 15.

July

August September

Number 2 rubber, July Number 3 rubber, July Number 4 rubber, July 2 Spot rubber, unbaled Blanket crepe

No,

8415-** 022-22

0114-3 7732-7022 74-70 144

101-103 i onie erone

United Presi LONDON MARKET

London, June 10. Prices of rubber futures closed today as foliuws-— Opposition Number 1 rubber, in pence Nacionalista Representative per lb.

2474-2515 25 -2313 Dahidi 2. Romualdez attacked July the

announced

stand

of

Auber

October/December January/March

opposition Senator Gil Puyat and July/September Administration Liberal Repr Bentative Cipriano Allas wha favoured a 10-year extension of the present trade relations with the United States.

Το

be discussed at public hearings

Thursday and Friday are general classifications of items which will be included in the Free import list, such as rubber and manufactures, olla, non-mótpille minciais, anch electrical

and

materialo

oppliances.France-Presse,

Pepper Market

In New York

New York, Junė 10.

The pepper market, rulca quilt with buyers holding off awaiting developments in the primary market.

237-23 2240-2414 2316-22 United Press.

NEW YORK MARKET

New York, June 10. Prices of rubber futures closed today 65 to 80 points higher with sales totalling US contracts. The market closed active and fem.

September October November December January February March April May

Juna July

August

23.57 55.14 nominál

27.40 nomblat

-

25.63 mönsinal

No Serious Recession In

In Next Two Years

Decline In U.S. Trade

Washington, June 30.

United States exporta and Imports tell during April, the Census Bureau reported today.

Experts from the United States fall from 91,417,000, 000 In March to $1,331,- 000,000 in April.

000

Imports decreased from 5932,000, 8903,000,000 to

April exports were about six per cent higher. than the average monthly exports in 1951. Imports were near the 1951 month- ly averace. - United Press,

Lisbon's Plan For Colonies

Lisbon, June 10.

to

But

Some Slackening Off In Business Expected

Washington, June 3.

Government economists, who have recently been exchanging views on long-term prospects, find themselves in pretty general agreement in forecasting that there will be no big depression or even serious recession with intolerable unemploy- ment in 1953 and 1954.

A slackening of business from present peak levels is anticipated, however, with economic activity continuing at a high level, but in 1953 not as favourable as this year, and in 1954 not as good as in 1953.

Unemployment, now at about 1,800,000, may possibly rise to as much as 4m. or 5m. by 1954 or 1955 about the same as or a little more than during the reces- sion of early 1949, according to the economists.

Those predictions, it must be sinted at once, are conditioned th iwo basic assumptions, either or both of which could bo false.

The Birst is that there will be no radical change, either milltary pr. psychological. the present course of foreign affairs,

In

· Development projects are being blueprinted here exploit strategic and pro- tional defence programme

The recond at the na- wil duction potentials of Portu- be carried cut more or less as gucee Africa, an "unknown it is now planned, with expen- at about country" of more than dilures 800,000 square miles and $55.000m. to 360.000m, annual

fy in 1953 and 1954. 10,000,000 people.

DEPRESSING FACTOR

The chief Portuguesa colonies

1

Tunning

of Angola and Muzambique. There are many other uncer- rich in farm land and minerals, tainties cloud the outlook,

attracting atten- and the dra currently

forecasts are neces- lion both from United States

sarily speculative. But, from Mutual Security

Administra- The faci at present avaliable,

tion officials and from indepen-top level Federal officials con- dent financial experts.

cerned witth the Cconomic

One

key to new colonial | scene see the general picture development is considered here as set out below.

HONGKONG SHARE MARKET

Co-

"TJINEKÍLNG"

TJIBODAS"

"TJILUWAN" "EASTWAT

SAILINGS

Jane 13

Juno IG

LINES

skah-ni-Udang, khabere, E.

Afle Dfakarta,

Tjitoben.

Buzabala & REACHERST

Djškaria.

Semarang,

Semarang,

Hingapore, l'endon, Port, Kwelteńhdirs

eltwil Det

Kingapore, Penang & nolawan

Jakarta,

Tilrebon,

8. Abilen 4 "8.. America

Bingapore, DJAMILA, Bemarang,

Sematady,

Bingapuro,

"Burabile de Macassar

June 20

TASMAN "EJIWANGI"

Jóná

July

Kingniore

Beli BATANE.

"Nurabals & Macassar

“TJIPONDOK"

July

Djakarta,

Semarang.

sutaðlia & Macasse

JITIALENG

Japan

JIPANAS"

July

Dianita,

Bingapore,

I'cuans

S. Africa

Jus

9

Bingapore,

Madritius

"TJLUWAR"

"TIRAMPER" JAWANOI

July 10

July

Aug.

Bürabula & "Macassar

Djaltarta,

ANE.

0.

∙A. 17 Aug. 10 Aug, 21

Bept,

Sept.

Sept. ·

Sept. 16 Bept, 25

Oct.

2

"EASTWAY" "TJITJALENGKA" Aur

TODAS

*THLUWAR*

"TASMAN"

TJIWANG” (From Our Correspondent)

"TJIPONDOR" Slightly moro active ditions prevailed on the Stock

-"DOISSEVAIN" Exchange this morning, with "THLUWAII" total business valued at $922, TIKAMPEK” 705, Noon quotations and the

morning's transactions:- SHARES NUVERS SELLERS SALES

MANKS

x Bank ... 1305 East Asia ... 141

so bad, because there are many "liberalising." stimulating acts which the Government la in u INSURANCES

position to take.

Burebala & Macaskar

#ingapore, Újakarta, Bemarank

Burabain & "BACALAN

Singapore, Panang Delawas Bell

Sung:5010. Mauritius

8. Africa & 6. Amèrica. Djakarta, Titebon.

surabala & Macismy

Singapore, DJikaita,

Bemarang.

Surakāla & MACASSAY Singapore, Petráng, & Belawan bel Singapore, DOJAMBIES, Bemustang

Gurabola & Blacklear

Djalcaria, Titebon, . Komating.

Burakala Macassar

Manika, Singapore. Mauritius

8. Africa & 8. America

Bingapore, DJaunrta, Semarang

Surabala, & Macassar

Djakarta, TJirebon,

Burabala a Macassar

Semarang,

Singapore, Djakarta, Semarang,

Surnbala & flacassar

ARRIVALS

12 Jung Jane 13

June 19 June

Japab

Macassar

Froin

Barabala,.. Bemarang,

Djakarta & Bingapore

Japan

Airica, Mauritius singapore

General Agents.

HOLLAND EAST ASIA LINE

"TRANGI"

Union.... 70246 73746 178 735 20 bg 735 Underwriters ·

0.04

1% 1.00

70%

· “THIBODÁS" "THLUWAI”

"EASTWAY" "TJPANAS"

LOWER TAX RATES Among these, a blg "made work publle works programme SHIPPING immediately comes to mind,

Asha Nav DOCKS, ETC. K. Wharf

N. P. Whatİ 5.65-

Dack ...... 16.10 Provident...10.20.. 1000

But it is by no means cer- Zain that such a step will be nicessary. 'The silmulating effect of lower tax rates and of relaxation of the Gover- ment's tight money and credit Pulicy might well be potent LAND, ETC. enough forces in themselves to prevent anything like a heavy recession.

NY Cotton Closes On Easy Note

New York, June 10.

to be the Portuguese Govern-

Next year many divergent ment Bill to permit foreign banking houses

and fresh trends will be at work, point- Ing in total to fairly high colonies.

Cotton prices closed today on Anancial blood into the

al- a note of casiness after swaying Recent MSA reports have level of business activity,

the underscored both

though not as strong as it pre-feverishly over a range of arcuni strategic

$1.25 a bale. and

economie Importance of cent. Angola and Mozambique.

Spread 1,000 miles along both of South Central Africa, the natural harbours of the two colonies are gateways to the Wealth of Interior Africa, especially for the mineral de-

Coasts

posts of Rhodesia, The

The Belgian Congo and the Transvaal of South Africa. For years the east coast port of Lourenco Mar- ques, Mozambique, third largest port in wouthern Africa, has been the outlet of Transvaal coal.

UNTAPPED WEALTH

Diamond

mining has tucrative in Angola,

Dealers were scared of getting

too far out on either side of the

fac!- market.

The very high post-war ex- penditures by business for capi- tal equipment-plant and Ulles are no lchger expanding! and, in fact, are due to tract. This is the chiot pressing factor,

The collapse of the steel strike con-settlement negotiations and Pre- desident Truman's request for steel seizure legislation injected new uncertainty.

some

If

not

HIC Hotel...

40

Wheelock.... #2 4215 10

6.10 6.80 2000

10.70 10.030 42

100 42%

0.70

SAILING TO EUROPE

"BLITAN"

July

"ALMKERK"

Aug.

ARENDAKERS"

Het

IK Land..

"KIELDRECHT"

Uct.

(13)

(ts)

15

100 &

SAILING FROM EUROPE

Saite Rotterdam

Atrives Hangkon

10.20

"ALMKERIC"

Trum ******* Star Ferry

10 1300 10

"AKENDSKERK"

Spiled May

le

July.

"KIXLBRECHT”

AUK.

04

8.40 1.35

"RIDDERKERK"

Hent.

1000 @ 0.35

Urt.

Humphreys

UTILITIES

C Light (0)

Light (N) 3.25 3.570 Electric

Telephone

INDUSTRIALS

ment

Ropa

STOLES, ETC.

Dairy

nd er d

21.30 22.40 890 a 21.30 100 or 21 40 28.40

24

17,50

13.30 103. 20 Cho t

Watson...... 21.06

2100 18.40

Sharp Wave Of Selling In NY

New York, June 10. Prices on the stock exchange declined with losses ranging to more than a point in moderately active trading.

sections were included la the sell-bff which was considered

to all of the not wartled,

fron fair to mostly good. ---

The market opened up

that the market j

@ points. After mid-day, prices overdue.for a correction in vici fluctuated irregularly but favour of the recent upsurge. ed the downside, closing almost President Truman's request for on the lows and off two to 22 steel selzurd legislation had little points net on the day.

effect on the market.

37.23-37.24

Prices closed today us fellows! Spol

4155 July

40.10 October December Dorch May Jul

October

2623 oral 34.71 nominat -United Pyran.

ORLEANS MARKET

40.00 4020-532

37.20-37.22 20.01

Rails bore the bht of the zell-ulfs

with losses ranging over point.

a

Some steels were down.

A few oil specialties registered

wido declines.

Chemicals were irregular. Aircraft makers were slightly

higher,

Dealings totalled

glares.

1,220,000

or 1,002 issues traded.

NEW PLANT

The caution increased among Nevertheless, the rate of in-perators who thought that the vestment for new plant and recent sharp advance made prizes

still be at a

vulnerable for the time being. equipment will

Despite spurts of activity in the high level, even though not as

textile market, dealers felt that high as in the last few years.

Many industries have from the overall picture in the cloth commitments

has

improved for Jong-term market

materially. capital exponsion programmes.

The Government weekly All For example, a great expan-

weather and crop summary ald Although the predominantly sen

slen programme is scheduled in

the condition of the crep ranges the chorpest over two months, native. population mostly... farm the electric utility industry, to general and cotton crops over be carried out over the next the vast emply grass and wood-five years. The chemical in- lands of the colonies, there are dustry, also. has broad expan- believed to be huge untapped sion plans, particularly for new sources of mineral

wealth, products in the synthetic, plas

teen tie. antibiotic, and

petroleum chemical flelds. Emigration la the colonics These are all Teng term and from crowded metropolitan provide a good base fer Portugal has been steady, but is capital expenditures for

10 increase expected

In the tune. wake of further development.

spending Similarly, defence Medical and agricultural ex- to scheduled to be maintained

say that anany areas ore throughout the year. Even peris Sa

NEW the limit set by the House of suitable for white settlement,

Spot Unlike those African coloales Representatives on defence ex-

July disrupted by

nation-penditures violent

Q celling

Ocluber allem, Portugal's syslem ΟΙ $40,000m. for the next Ascul

Becember March pr years retained by the Senate, humane colonisation has served peace among the native the rate will still be high with out There is no racial the addition of Federal

lays for the atomic cacrgy pro great lack has been

and stockpiling. cramme modern communications,

but

In the Grea of

consumer improvements are being made. spending, demand may.com.

telegraph and

glück, telephone ປnte as it is now, for the goods such as cars and house- mmunications both in colonies and to Lisbon have hold appliances. But demand is been established. Railways and brick; and is likely to be main- and highways are being improved tained, for food, clothing

sarviter while for housing it 19 and extended.

indeed: And although still in their very vigorous

Washington, June 10. The cutlook for 1054 do con- economic. infancy, the colonics

The diliated by

the

Department of Agricul- much

kama have

substantiat contributed

elements.

lure says that world sugar pro- wealth to Portugal already

The drop in business invest-duction will reach a new high through the export of primary

ment will continue to have. record with the production of JAPANESE BONDS products to shortage-ridden depressing effect, and there chalrifugal Canis boot industrial countries, United

also the probability that the estimated at 38,200,000 short Press,

anticipation of falling defence tons in 1931-02. Office

Foreign expenditure in the future will

Agricultural Relations cald, the emphasise the down-swing.

indicated world production of AN "ADJUSTMENT-

non-centrifugal sugar Increased Consta

6,200,000 short tomb In. 1951- Economists

therefore, sce, whit they choose id enil "adjustment," but not a

de pression.

ppction in the colorles

The

New York Sugar Futures

New York, June 10. World sigur futures closed feday 1 to 6 lower with sales totaling 100 contracts,

TITI

May July October

.30,04 bid

20.09

0022 hid

34.30 bid

United Preis,

World Sugar

..

Record.

of

sugar

52 from 0,100,000 tons tho pré- vious year.

It baid, "The world oentrifu-

the edge sugar production is

21.21

5.63 bld"

28,43

2.12

25,80

25.40

-United Press).

“Contract Nó, 4 world July

4.04

September

4.09

November Spot

4.03

Contract No, U'

·

alace (zimort 50

July

11.00

....

September. November.

00-0.01

Now, in terme. Per cent more production by:

0.03, bld

ho

-Unlied Press,

LONDON TIN MARKET

London, June 10 With Indian quottohy renerel- Priced of til Were steady is lyon garity with the morting Turnover was 18 tons, inoritet, dealers felt Including live tons for cash. that changes there would be Prices closed at the end of the quickly reflected in the local ofielut inofili benston market. Dealers quoted abot follows:-

domcsile

pepper. nominally at $1.52 a Spot tin, buyers pound, while afloats were from put in, gellers

Fusiness eng ab depending on Three-tuantur, thy busiërs

Shipment Three-months Ln, Eellats

Bunes dona at donerally

un Bettlement

ion.

$140 to steamer pricea Were changed.—United Press}}

Prem

as

dca

The

gol As sustaining factors in situation, they cite a steadily estimated how to total 24,100,000 destens in 1951-52, an increase or growing population; the Continets No. 6 closed to manda

and local 10.8 per cent over the 21,000,- of State follows:-

moro Bir 000 tons of fost season. government for

public works, such as relidolo, high 1051-52 production exceeds the ways drid sewers; the need for year averages for 1945-49 and replacement

'મ thonnous

the

1839438 by 31.3 and 40:0 per cent respectively, clock of capital equipment

"Cuba along has increased

1,000,000 of plant facilities and machines, than and the production That at the end of World War II); is 800,000 tons greater than and the need of consumers to that of last year" _The_esti-

durable replace

mated Philippines.production purchased this yder and adituros Presa

1a 1,000,000 Igns. - United

Copra Quotation

New York, June 10, Copra was quofed today at 970 $140.00 per short ton, nominal

Cocoamit oll was quoted at 10 cinta per pound, asked, follow. ing salos at 4 cents a pound. -United

Proga

The decline in:

or capital goods may produce { for:

a sizable deurco of unemploy- mens in particuler arzan ond industries, with a total of per- hapa shy,

"IILITAR

Nov.

MAERSK LINE

FAST FORTNIGHTLY SERVICH TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPINA VIS SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

ARRIVALS FROM U.S.A.

M.S. "LEISE

MAERSK"

M.S.

"GRETE MAERSK”

M.S.

"OLGA MAERSK”

M.S.

“OLGA MAERSK”

MS.

M.S. "HULDA MAERSK"

AGENTS:

"JEPPESEN MÄERSK"

June 17

July

in e

July 18

June 18

Jate 29

July 17

For Freight and Farther Particulars please apply to:-

JEBSEN & CO.

Pedder Building.

304 advanced, 134 declined and PETER MOK

254, were

Trees,

unchanged.--United

Exchange Rates

Busthers was done in the Ideal unofficial, exeliange

market norring at the following rains:~. U.9. dollat (per $1)

this

Sterling nate (pez £1) Indonesia

Stam leaders (per 100)

(per 100) Singapore (Hiraits) FIC plastres (per 100)

London, Jung 10. Japanese bonds "A" (45. of 1809) 7774

"D" (4%. 6: 1010101 """ (5%, of)007) 2201 "D" (68..ot 1034)

"E" 1835, of 1934) 120.

HIM YICK HONG

MACAO

MANUFACTURERS' REPRESENTATIVE

Agent for AUSTIN CARS

M.V. LEE HONG

China Mail Distributor.

83 RUA V.P. ARCOS' TEL. 085 Cables: Peter Macao Agencies invited

Tel: Nos. 36066-9.

:

PRESS PHOTOGRAPHS

Copios of photographs taken by the South China

Morning Poit, South China Sunday Post-Herald, and

China Mail Staff Photő- glaphamaro. ch view to the Morning Post Building..

ORDERS BOOKED

Pacific For East Line Inc.

Fast Regular Trans-Pacific Service

BAN FRANCISCO, LOS ANGELES

DIRECT

tons

Wool Prices Firm

Sydney, June 10, Values at the Newcastle, wool But the codicnsus of opinion, eles todo el firmant worso Sydney's closing. rates last Is that it will not be than this, and may not be ovoh | wyeck-Associated Presb.

VERLANIE

NEI YORK-CHICAGO-DETRÄTT TÖRÖNTð / BIONTREAL AND ALL AMERILAN & CANADIAN CITIES

Guam, Maritas Islands, Aeronbitah Isländi — Regular Service direct or with trackshipmins

Vedet

KITAWAII BEAR"

"WILLIJA LUCHENDATU”

"WILLIAM LUCKENDADITY

Avelyek

June, 11

June 17

June

Jube 12

Jungle

*June 201

San Franchen & Los Ahjolaà

evin dapan.

Blogspore, Penang & Pott

'-, Nwotterham

Bart Tranelreo & Los Angélés

via Kebo & Nagoya

For full partionisry call United States Ilver Co., Ocnomal-Agenta, Queen's Muilding, Teli 28104