MESSAGERIES M
Arrivilig
THE 'CHINA MAIL, THURSDAY, JUNE 12, 1952.
MARITIMES DILEMMA IN AUSTRALIA M Reconciliation Of Progress & Stability
Leaving
"DİR HAKEIM”
•June 24
"LA MARSEILLAISE”
June 20 July
"MEKONG"
July 1b
July 16
MONKAY"
*"LA MARSEILLAISE"
''LIK HAKEIM”
1"MERONG"
July 1 July 11
July 12 July 20 July 2 ..Ang. 3 Aug. 31
For Passenger and Freight.
Gutward For
otokima
Japan Kaze Jabah konieward For
N. Alstea & Europe Marketfter via Búlgöd be, Atrich & Eurode N, Attich & Europe
† freight for Suigon, Alexandria, Tunis, Genoa, Marseilles, Algiers, Qran, Tangier, Casablafica, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterranean ports via Marseilles.
Madagascar by transhipment In Saigon or Djibouti.
Subject To Change Withbut Ndiice.
CIE DES MESSAGERIES MARITIMES P.O. Box 58, Hongkong Queen's Building (gr. floor)
EVERETT
Tel. 26661 (3⋅ Ines).
LINES
EVERETT ORIENT LINE
Fast cargo and passengers service refrigeration space available for Kores, Japáñ, Chinò, Philippines, Indo-China, Siam, Malaya, Burma and East Coast Indlah Ports.
"LENEVERETT"
Arrives June 23 from Singapore. Sails
June 24 for Japan.
"NOREVERETT”
Arrives June 30 from Manila. Salls July 1 for Singapore, Penang, Rangoon & Calcutta.
EVERETT
STAR LINE
Fast cargo and refrigeration spaces available for Korca, Japati, China, Philippines, Indo.. China, Slam, Malayn, Ceylon, West Coast Indian and Persian Gulf Ports.
FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR BETELGEUSE”
Loading June 24
Salling June 25 for Singapore, Madras,
Colombo,
Karachi, Bahrein.
Bombay, Basrah &
EVERETT STEAMSHIP CORPORATION S/A -Queon's -Building, Telephoho 31206; Chinese Department: Telephone 28293.
HONGKONG
SHARE MARKET
(From Our Correspondent)
Business on the Stack: Ex- change this morning was volued at 3131,673.75. Noon quotations and the morning's Iransactions:- SHARES BUYERS SELLERS Bates
BANKS
Et Aila.
INSURANCES
Iinien
JK Fire SHIPPING
705 740 10
13715
منست
Foreign Exchanges In NY
Canada
England-ital
unolicial
New York, June 11.
US$1.07-1,30
2,70
30-day future DO-lay Fulares
Australia New Zealand South, Africa Belgium Denmark FTANCE
Norway
Portugal
135 Spain
2.50 bid/ 2.02 arked
2.78-7/16
גדליס
Japan, Indonesia To Try Again
dhkarts, adhé, 11. Negotiations betweth Japan And Indonesia for d and trade new payments agreement tickan here to- day. The feelings are a Hntinuation of the talk of Jakt November in Tokyo, which broke down because Indonesia refused to pay baldhebu In dollars
De R. A. Açmauh, head of Indonesiah Welekatēs, hope Indonesian experia to Japan could be in- creased, while are Katsumi Ohiro, head of the Lix-thal Japanese delegation, agree- far with Dr Atmaun, sald the trade balance between both countries showed a $59,090,000 in surplus of favour of Japan-Reuter.
the
Another 'Abadan'
In Bolivia?
Manchester, June 11.
Manchester Today's Guardian suggested that the United States and Britain lose an important may source of lin in Bolivia.
So far, the Bolivian Govern- ment Isid. taken no measure to
Outcome Of The Tightened Financial Situation
London:
During his discussions in London, Mr R. G. Menzies, the Prime Minister of Australia, will have had. much in common with Mr. Winston Churchill, our Prime Minister, and his two' Heutenants, Mr R. A. Butler, at the Treasury, and Mr Peter Thorneycroft, at the Roar! of Trade, says the Liverpool Journal of Commerce.
Apart from the temporary phases of surpluses and deficits within the sterling area, and between the sterling and non-sterling areas, there is the greater issue of the long-term view complicated by political and military issues in Korea and Malaya, and the civil disturbances in Berlin and in Paris.
tion compared with the rest of 1 dolar-earners the world and its potential trade.
for the sterling area. Malayan trade in 1951 is the subject of a recent Overseas Economic Survey, which records that last year the United King-
million-worth of goods,
HEARTWAYO
"TARMAN"
ERWANDT
**kwa SMIIKAMPEK”
LINDS
T
icon-ki-kakk, kingapore, E. ***,
Tärchen,
森蹴
11
Dakarta.
„Remarang,
Surabaja A” pluenssar
14
Kingapore..
ᎰᎪᏪᎸ
Неллик
20
1 ཎྜ སྒྱུ སྐད
TAIMENANTS.
OTJHODAN"
Jame
"TULUWAR"
Дете
Jone
June
July
"TAIPONDER"
"TJPANAS"
Juty
7
Bijakarta. Ton
July
ร
Xanila, Kingapore,
8. "Aftlog
UZZATSALUNOKA"
July
July
31A51
July
14
Suly es
AUR
Aug. G All Aug. 14
Djaka
mjhtearth, Techou,
"TASMAN" *TJIWANGI
“TJIYONDAK"
"EOISSEVAIN”
AVE. 14
Aug. 21 Kept.
3 Bent.
Best. 9
Sept. 14
Sept. 23
Det.
HOLLYWÍANCÚP *KARTWAY! PETTELALANGKA"
PEJIDODAS"
*İJİLUWAR**
A
Kingapore,
Semarak
Semarang,
Remacht,
Semarang.
Aurahala. Macassar
Shenpore, Peyang, Port Swellendam
Belawan Ben
Singapore, Triang. Heiwan belt Shignore. Bjnkaria,
Suradnia & Micassar
Nurubala & Maraisar
Japan Evin Merilla)
*Semarang.
Penang
A
Kingapore. Atauriing,
5. Affles America
singspate.
DISKAMA,
Surabala & Sansar
egeben,
sintubata & Mheásikr
shizapore.
Sutabaki & Marawar
singapore, Penang, &. Holásend, Bhil Stinfia Singapore. Mantilus,
Arlen & b, Amerlen
Hemantahk.
sumbath & streamah Binzapałe.. Jakarta, Brinātaña,
Surabala Marossar
Singapore, Penang, &, Heinwhh, Děli
Djakhrá
"Murabalu 4. MACKAERT
DJMart
Titebon,
Notabila & Macassar
Mand
Bingapore.
8. Africa & §, America *Singapore,, Jakarta.
Surabhia di incassar nikkarta, Trebun,
Surabala, & Sjacassar singapore,
Manice, "Sekarang,
Semarang,
Djakarta, semiarant,
Surabala & Markisar
ARRIVALS
Juno 12 Jnne 12
June 19
Гарам
From
Surabala, Semarang,
Djakorta & Hingapore
Japan
Africa, Mausliter & Singapore
General Agents.
HOLI AND EAST ASIA LINE
"TURAN“ *THIKAMPEK"
“TJIWANGI”
"TJIDODAR"
*THUWAIK
"EASTWAY** "PHPANAS"
JHIC 19
to
In 1943, Malaya had an adverse visible tarte balance of Malaya should$1,024 million out of tumover $3,517.2 million, In 1050 the balance
favourable
50,848.7, million turnover, and
has been compelled to reject
In the Mey ohthis summary conditions, pub- of Australiah lished by the National Bank of
It has been facetiously put that Australasih, tome interesting data
many of our captains of industry are given on the balance. of pay need to find a rest from the goll i dom exported to her some £90 ments and on the long-term
course by "recuperating in their Issue, Dealing W
with the present
crisis the le
ollices. But to our mind the Australian thancin!
plea by The "Dilemma is most quixotic summary states: surmmonly the outcome of association to Mr Menzies was
Australian the that the
buyer Ant Lightening situation,
the m make up the loss to the British dilemin between policies of in- Hation anci of restraint which seller if the latter had to sell at now confrent Australia is the loss goods rejected by Aus-
For some reason the de- yn, $1,088.5 million oil of a outcome of a tightened financial putation scened to ignore theirst year it was again favourable situation." This has been em- |
to the extent of $1,270,2 million fact that the whole sterling area phasised by the under-subscrip-
cut cf $10,710.8 million. tion of Ei milon to the £75 million Commonwealth cash and conversion leza in Apri.
During the first six months of 1951-1952 fancial year, the Australia's income from current overseas transactions was £358.7 and expenditure £674.7 million,
a deleit million, resulting in a
the first £316 million. During hair of the 1950-1951 year the million, expenditure 410.2 £438.6 million, and deficit £19.4 million, respectively. Between the periods there was a totul adverse movement of £290.5 million.
ht
Mãenvår
Semarang,
Kemarang.
Mainy's principal exports were inillions of Malayalı
SAILING TO EUROPE
"LITAN"
July
"ALMENNK”
Aar.
To
1951
1050
"ARENDSKERK"
Sept.
RIELDREMİT
Chri.
1,193.7 1,048,2
SAILING FROST EUROPE
487
251
164.5
"ALMKERK"
Balled May
Sank Stotram
25
Arrive Houskoht
"AKENDSKERK“
"KIELDRECHT**
"RIDDERKERK”
July
Sept.
Nov.
hurried measure of stuve quin of its commitments in a their line of prut; otherwise action on the two steps quoted dollars); here is quite inexplicable. Mr Menzies in his reply, gave the United Kingdom 1,215.5 36.9 only answer posible, that was United States to wall upon the discussions he Indonesia was having with Mr Churchill | France and his Ministers in the hope of Australia a solution to the ultimate good Japan China US.S.R.
take over the tin mines them-omparable figures were income of all.
seluca, this paper said.
it is in a dilemma frmiliar to Dr Mossadegh (the Prime Minis- ter of Persia).
"The nationalisation of the things is though! cssential
economic Bolivia is to achieve freedon, but dconcenie freedom will mean eých greater poverly than before unless foreign capiinl can be brought in to develop the country and, above all, to use its raw materials for industrial pur- poses.
LONDON TIN MARKET
the
Y
Big as are, the figures of in- come ind expenditure, and of thents of such, to the Australian capital Investment. and repay
mai-in-the-street, his British vis-a-vis has been given more than food for thought by the answer in the House of Commons
Arthur Salter
of by Sir details
the volume of loans we have the
received from the United States **since 1914. The Australian may
that was very
322.8
293.1
141 157.1 115.4 99.5 124 73.0 121.7 Commenting generally on these exports, the survey states that the decline in the trovenient to China and the U.S.S.K. came after the embargo on the export of strategic materials to those two countries. For the same ranson, exports to Hongkong had declined in rubber and tin. The high position of Indonesia-and this is an entrepot trade-is to be noted...
imparts into Mainyo, In millions of dollars, were:--
ENTREPOT TRADE
Kingdom
1051 1030 708,5 505.8
218
89 1:429.2 770.3
55.3 21.3
142.2 110.9
03.5
no record
FALL IN RESERVES
Explaining the income and expenditure, suminary states that in the first rece hult of 1950-1951 there had been, *Sul, feeling tgatnet foreign an addition of £28.6 million to shrug off the significance of his not pounds; the Briton cannot shrug International s exploitation' seant to run high | LAC nation's and is undoubtedly being en-monetary
51equenes this dollar borrowings, couraged by the, new champion 1052 compa; In the 1951 Off the sigilßenhce or the can- werlod there fic has to buy food for m mtre
in such existence and of depressed South American re-
a heavy was
decline reserves. On the last balancing nearly being denied as in the publics, Argentina.
Source companies may day in June, 1951, the reserve zulumn of last year. Astronomi- "The mining
United yet meet their Abaden and Bri- aggregated
£813 million; by
United States tain and the United States lose December 26 last they had fallen as these figures are, or may
alle merely seem to the prople, they Indonesia £544 an portant source of tin," the to
millon (all figures have to be realised and their France.... Manchester Guárdium concluded. } being for Australian pounds), -Reuter.
consequences faced. hence the necessity
Australia of cuts in imports by Australia, even in the
Our total borrowings from the Japan.. intra - Commonwealth (sterling United States of one category of
Chinn arca) trade transactions.
another since 1041 up. to May 10 U.S.S.R. Thailand this year
were $0.503,000,000.
India We have repaid in the period
Germany leaving, for "the objectives of progress and $500,000,000. of stability, are of course, bothulure consideration and action,
In its comments, the survey 50,034,000,000, chuivalent, on the legitimate in themselves, yet basis af 50,000,000 of a populà-
underlines the importance of the dilemma arises in that the
entrenet trade in S. W. Asin and and lengkeng generally benefi the Far East. in which Singapore Imports into Malaya from Thai- land, were
mainly rice, and_n small proportion of tin and rub- ber from South Thalland through the Penang
entrepot.
From Indonesia they were mainly rub- ber, timber and jungle produce. This trade marks the importance of Singapore and Penang as en-
Imports from trepats. countries were mainly consumer goods,
London, June 11.
firmer The tin market was this morning with turnover of 105 tons of which 10 tens were fre cab. Prices elried at the end ef the official morning
sessien as follows:-
Spet in, buyers
Spot t, sem.
Business done at
074
Three months tin, buyers Three-ninnths tin, sellers Business done at SetUtmint
Ma
069
974
niied Iress.
Mixed Trend In Grains
Chicago, June 11. Grains joined the major com- modities in a mixed performance with little price change in the overall level featured by scy besma'rength. Wheat futures clored higher to 4 lower and roybeans were 14 to 3% higher. 023-5/10 Prices closed today as follows:
Wheat-price per bushel Spat
2.23
2.78%
1453
"On the broader issue, there- the summary, fore," comments
muz:
INTEREST REPAID
pursuit of one seems to Thynive, to sial, br £64 10s, per the sacrifice of the other. The capita ut the present arbitrary question to which Australia murale of exchange of $2,80 now And the answer is to what extent these objectives can be pursued concurrently and, to the. extent to which they are in- compatible, which one must give way. The bank's view on this is: "There is a
is a powerful case for developing the material equip- ment and increasing the popula- tion of Australia as rapidly as possible. It is a case which not only appeals to those who see visions and dream dreams, but
that
243.9
227.1
05.7
383.4 315,3
200.2
105.7
76.0 21.7
other
In the period under review we have repaid in interest $2,203.- 030,000 and, when the 1957-1953 financial year comes round, we will have to meet $90,000,000 of interest, not including a repay nient to the principal suns, on four loans alone. It will be little use the agitator attempting to befog the issue with the mas
mas-In- the-street
Of the imports from the 104
10s plus that
U.S.A. In 1951 ($218 million), which rests upon the sounder 13s for the coming interest, can less than $70 million represented grounds of ceonemic experience be squeezed out of the "rich" by
Inxation
o an expenditure of U.S. dollars confiscation ΟΙ and strategical necessity."
levies. The United States--and by Malaya; the balance re- Opresculed goods which entered applies to other
via Hongkong against payments creditors went tangible goods, i sterling to Hongkong increasing or gold or services. Australia,
merchants, Germany's increast material equipment and also her The dollur debt to the U.S.A.
of shipments was due mainly to population by cubsidlifed im- is no mere irrelevant abstraction. ferrous metals and machinery. extensive and Japan's to lexilles and cheap migration is going to eat much. Its reality demands money.
yet
the surest cons and repeated bbeldation by Mr consumer goods. tribution she can makb to her Buller, with
with the obvious remedy own, and world,
indicated security ops partly
by has to be in expanding Hercroft and Sir Walter me
the
SUREST CONTŘÍBUTTÓN
Το
this
effective resources did numerical at
West Germany
4,20
Folland
sly
2018
2.35-14
,001B
Joly
1403
170
September
0.483
December
Sweden
DIA
March
2.01-4 2.0012-2
2.41 nominal
51tzerland
2313
Corn
Middle East
Spot
1.07-5
Fypt
Tran Turkey
2.001;
July
1.0372-7%
03125
5373
September December March
1.74-24 1.77-22
Such
Latin America
Ryc
Amentina
0015
July
2.14-
BYAZI
0:00
September
Bolivia
Qais
Colombla
July
Asta Nav... 1.35 1.60 1000 @ 1.55 fran
K. Wharf
DOCKS, ETC.
N. PL. What 55
Dock
.....2035
Provident.... 1980
S'hat Dock 120
Wheelock ... 4433 000 uta Chile
HK Hotel.. 0.70 0.90
LAND, ETC.
HK Land 401
300 Land (33)
UK Land (1) 13
232 8 13
EL
DOO 4 20.30
numpnicya
S'hai Land. 1.10
#7
UTILITIES
VIYGI ..... faso
10
BIC FRITY
100
C. Light (0) B2
C. Light (N; 140 of
Electric
Telephone
INDUSTRIALS
cement
Lopa
2014 Uruguay
212021.40 100 ₫ 21.00
10.50 10
... 14.30 131
£7.40
STORES, ETC.
Dairy V, 43,40 20,00 2500 * 1015 Watson 996. #40
200 65 4
MISCELLANEOUS
Yangtze .......... ED
Cuba Mexico Peru
Venezuela
India Fekiston Hongkong Indonesia Singapore Japan
Far East
2001
360 yen to Usşi ---United Press,`***
New York Sugar Futures
New York, June 11, World sugar futures closed to- day 1 to 4 higher with salos totalling 120 contracts.
Contruct, No. elotted 2 tbs B higher with tales totalling 349-
Contract No, a twoitd).
Ah hid 4. namika? 403
Exchange Rates contracts.
Buglich, Wai đône ih i idering at the following Tales
2.3, dönsk (hör 31), voogdie Hierung nele (her 41)-99AL Indonesia gilidote (ner, 100).... Siam Loss (per 100) .../ singapore KA{ral{g}] PIC plastres, (per 100):
racat | Sebleniller
Opht
10.28 Jut
5.14 September November 1,745Bpct
210.4
1.0336-12
2.12-3.13-13
of Labour. The Ministry of
strength against future dangers. old orthodox meliods will fail in Famine, Drought
may be the strategical effecting
a solution br
(Hitler
it is supported an semblance of settlement. The
by the "servitude" to Interest grounds partly developed, and by the one of his
existence of resources as yet only eded, mazats Afinst the
ment would yield.
it was
need for the extra food and Jewa) has to be borne unless September New York flour-ber 200 lb. Sack.materials which further develop some moratorium can be worked $12.50 nothinal.-United Press.
out to give effect to the plea of the Duice of Bedford,
recently Bolt Mr Menzies and Mr ventilated in the House of Lords Churchill must know that under and, in une sense, supported by Wheat Estimate Investment, with unemployment Mr J. Caldwell, leader of the
and waste of productive capacity, | Canadian Socialist Party in Ot Is as much to be avoided as į tawa, Washington, June 11. The Agriculture Department intallon which the cuts in im- today made its fire estimate of pests are basically desigard to the total whent production for curb. And Australia's dilemma al the 1052 at 1,320,157,000 bushele is also the dilemma of
Commonwealth countries largest crop on re- the
second
exception be made of Increasing of the United Population Wheat Kingdom.
corded total was made the
The
up of estimated winter. du'può ef 1,060 298,000 bushela and, an expected production of 265,859,000 bushels of Spring- planted wheat-United Press,""
It
would
would
CANADIAN PLÅN
Strike India
"BLITAR"
July Au Sept. Oct,
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vla SAN FRANCISCO, LOS ANGELES AND PANAMA,
NEXT SAILINGS
M.S. "LEISE. MAERSK” M.S. GRETE MAERSK" M.S. "OLGA MAERSK”
ARRIVALS FROM U.S.A.
M.S: "OLGA MAERSK”
M.S. "JEPPESEN MAERSK" M.S. "HULDA MAERSK"
June 17 July July 16
2
June 17
June 30
July 18
For Freight and Further Particulars please apply to:
AGENTS:
JEBSEN
Pedder Building.
CO.
Tel: Nos. 36066-9.
The Rubber Cotton Price
Markets
Singapore, June 11, Prices of ruliber future: closed today as follows:-
Number 3 rubber, per.lb.
July Aughat September Number #rubber, July Numiner cabber. July Number, 4 rubber, Zutz Spot rubber, unosled näzniket `everë tio. 1 pale close
2.
#3%-
In New York
New York, June 11.. Prices of cotton futures closed today as follows:-
Spot
| Júty,
Ortoher
2514-00 December 847-8314 March
May
1244-24 78-70
77 -73 131-12
67-60
103-103
October
41,33 nominal
20.02.0
37.00
30.00
30.71
35.65 nomina}
30.10
4.30
-United Press.
NEW ORLEANS MARKET
Spot -United Prein.
NEW YORK MARKET
.arc
contracts.
20.60
New Drill, June 11. Famineind draught striking at the heart of India's
New York, June 11. huge southern State of Medras,
Prices of rubber futures closed More than ten million pen- today 10 higher to 10 lower with rants are critically eliort of food sales totailing 34 and water in the area, the Inter-Prices closed as follows national Federation of Agricul tural Producers says. The State September
CCWONT Governor, Sri Prakasa, says the
LOVENIJET peasants are on the threshold of
December January clarvallon because of the fifth
February consecutive -year of severe 'MANCH drought. The · Madras Stato apel Goverment har set up severni hundred centres where women; children, invalids and the aged receive a cup of gruel once a dey.
Commenting on the lack of sales of bacon, cheere and apples abroad (Britain obviously meant) his suggestion was that Canada should postpone repayment by Britain of the 1918 toon with the As already repotied, a depus proviso that the dollars to re- tion from the Associated British leaned be used to buy Canadian Chambers of Commerce wallet goods. Such a trading method upon Mr Menzies and urged upon po repayment of the loati
only be temporary JAPANESE BONDS Him TelefiKI steps, the trend which was: to-
and the interest would protect British Intercals,
have to Anancial
way
to be met zone lay, d that our monitfacturers well; os tha stressed New York, June 11
nams Bug.
Bug. to and traders would im
US:A "fered with the sods and oils and t Prices the market closed unchanged with disaster if they had in face the Malaya is, geographically, a consequences of Australia aver-Antall country, but, like Indonesia, „the followide excipuentes, A
Flax seed, per bushel, F.O.B.buying, hithough surely this is she is rich in valuable" natiorial United an exaggeration to place the onus resources, rubber and in, for Minneapoli, $3.08-12.
on that country small in popula thatance, being two of the best
Soeds And Oils
Press
Preas
ܐ܂
Lolidon, June 11 Jupances bonds,
*12
LACH fás Of 1997) 120-
D(5, of 1021).
Consols
"E" (a, of 1034). 126 57 United Press.
hi5/ Itine July
Augus
Beptember
23.10 nomina!|
217) nominal
27.30 asked
21.70 somna!!
July October December
March
May
Julv
October
40,40 39.00-20.95 37.07-37.10 20.13 30.09 30.84-30,53
30.04-30.08
34.64-3458
-Utilted PreKN.
Pepper Market
New York, Juno 11. The pepper market remained 23.03 ibminat quiet but prices were steadier 24.75 bid in tono. following the develop- 20.63minalment of n ilille bidding for June 33 110mini
13.01
Honda Chipineat, ";
23.23 meininal Dealers called spot at between 2193 todama $3,51-$1.52 United Prez
a pound, June arrivals $1.49 - $1.50. The first Bheir Judd chiphien: $1.30, and July $1.20 – $1.21 a pound, all- oli, an ex-lock brats-United Press.
LONDON MARKET VA
London, June 11. Prices of rubber, futures; closed today as followay
Number 1: rubber, în pence re
per; ib, Jus
Aurut
September, July/Septembar
October/Decejaber:
·||| January/March.
2056-16-
Copra Quotation
New Yeric, June 11, Copa was quoted today, at $150 per short ton, romlinti
24241. | Coczanut oll was gold zu 914. iteď Press, centa a pound, - United Pro13:
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