1952-06-16 — Page 9

THE CHINA MAIL, MONDAY, JUNE 16, 1952.

Pago

MESSAGERIES 107 MARITIMES UNCERTAINTY IN LONDON ROYAL INTEROCEAN Lines

MOM

"BIR HAKEIN”

Arriving

Lenting

June 2 June 20

"LA MARSEILLAISE", June 10 "TIEKONG"

July

10

July 1 July 16

+“MONKAY","

*"LA: MARSEILLAISE"

DIR HAKKIM"

+MEKONG"

**

July ........Jane 30

July 11 July 12 July 20 July 22 Aug. 3 Aug. 11

For Passenger and Freight. + freight for

Outward For

Заран

· Kubo & Yokohama Japan

Homeward For

N. Africa a Europe

Marseillès vis Gaigon N. Africa & Entode N. Africa à Europe

Saigon, Alexandria, Tunis, Genou, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterranean ports via Marseilles and West Africa by Transhipment. Madagascar by transhipment in Saigon or Djibouti.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong. Queen's Building (gr. floor)

EVERETT

E

Tel. 26651 (8 lines).

LINES

EVERETT ORIENT LINE

Fast cargo and passengers service refrigeration spaco availablo for Koren, Japan, China, Philippince, Indo-China, Siam, Malaya, Burma and East Coast Indian Ports.

"LENEVERETT"

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

"NOREVERETT"

Arrives June 30 from Manila. Sails July 1 for Singapore, Penang, & Calcutta. Rangoon

EVERETT STAR

LINE

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

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "STAR BETELGEUSE”.

Loading June 24-"

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

-EVERETT-- STEAMSHIP CORPORATION - S/A --

Queon's Building, Tolophone 31206. Chinese Department: Telephone 28293,

Share Market Investors Still Cautious

Oil Prospects

In Taiwan

Talpet, Jane 15.

A one-year U8500,000 project to cover the ex- penser of two survey teams to explore all resources in Taiwan has been proposed by Howard Moyers, petroleum

expert,

Mr Meyers is confident that the southern part of Talwan hides important oil resources and has 815- gested that the survey be. carried ̈etit as quickly ca possible.--France-Presse,

American

Rayon Statistics

per

New York, June, 16. May shipments of rayon and acetate by U.S. pro- ducers totalled 92,400,000 pounds,

# 15

cent increase over April, accord- ing to a statistical analysis, However, the first five months' shipments this year were 22 per cent under the similar. 1951 period.

Man-made 1956 world are production totalled 4,211,000,000 pounds or a 15 per cent Increase over 1050 with production exceeding consumption on worldwide basis.

Concern Regarding British Economic Situation

(FROM CUR OWN CORRESPONDENT)

London, June 15.

Concern regarding Britain's economic situation and uncertainty about possible developments in Korea kept investors away from the markets last week and bargains totalled only 29,000 compared with more than 50,000 for the same week last year.

Óvor the market hung the prospect of the issue of another £30 million of coal stock, and brokers expect many sellers.

Kaffirs only

Gilt-edged issues continued their downward trend, showing losses up to 25/-, and industrials, taking their cuc, sagged also. held their own.

Economis!" puts it.

Japanese bonds met with small, is to be attained"-os "The selling, partly due, to fears that America will oppose the honour- ing of the dollar clauses and partly because speculators need ready cash to meet recent losses,

German bonds staged

slight

recovery due to the continuation fo

of the debt talks, although it is are apparent that the Germans are seeking to drive a hard bargain Base metal shares showed some small advances due partly to bear covering and fears that fighting In Korea may start again,

Commodity prices, following their heavy falls, may have tom porarily grounded, it is believed. But neither speculators nor investors have the confidence market necessary to cause upswing in shares.

2

The 44 per cent drop in rayon production lust April, announced last week, came as a severe shock and this was followed by a warn

ajog

поп-

Total world production con- sisted of 3,358,000,000 pounds of rayon, 500,000,000 1b8, of nectate, and 281,000,000 169, at cellulose man-made fibres.

Compared with 1900, rayon output was up 10 per cent, neelate two per cent, and non-

eilulase Abre 52

per cent. Geographically,

rayon and acetate output

were up 40 per cent in Africa and Australla, South America

13 per cent, North America three per cent and Europe 10 per cent.

WORLD POTENTIAL World potential capacity of inan-made fibres 15 3,104,000,000 lbs, of which 4,020,000,000 lbs are rayon, 755,000,000 ncetate and 399,000,000 non.cellulose fibres. By the end of 1953 the capacity figure is expected tu increase 17 per cent over the present potential.

rayon

from

the directors of Courtaulds that the dividend for the current financial year might not be earned

STERLING'S WEAKNESS

The trade figures (when tho usual allowances are måde) show a deficit on the United Kingdom's running between visible trade

million and £550 million With visible trade in such unbalance, the fact, announced by Mr R. A Butler, Chancellor of the Exchequer, that the gold reserves decreased only $10 million, is regarded duc solely to the incidental factors of American aid and good fortune.

מיד

13

The one bright spot in the United Kingdom trade position is dollar carning.

Some exporters profess to find Improved United States markets Bikely, and Canada has revived rapidly as a market since the lifting of hire-purchase controls.

EUROPEAN TRADE While the United Kingdom's Britain's European trade has been dollar Lrade has been doing well,

costing dolkets and gold.

This

nast

week (in the midst

Merger Planned In Japan

FORMER MITSUI COMPANIES

Tokyo, Juno 15. Four companies of the former Mitsui Bassan trad ing affiliation Have reached an accord to reorganise themselves into a new com- pany.

The four companies concern- ed in the merger ate the palchi Tsusho, capitalised at 150,000,

70,000,000 yen, Kyokuto Bussan, 000 yen, the Tokyo Shokushin (food dealers), capitalised at also capitalized at 70,000,000 of a conflicting prophecy from yen, and the Saredila Seal (lex-

dealers),

capitalised the Premier and the Chancellor)

34,000,000 comes news of the transfer of

10 million Continental "money" club"-the European Payments Union.

In the accounts kept by the Payments Union, European

tite

at

for the merger

Negotiations of gold to the

The shump in the textile trade come about gradually but rayon producers have met with difficul- ties only during the last few months.

Adding to the general market uncertainty is the weakness in

visualise another

and little Belgium the heaviest devaluation, and dealers must nevertheless watch creditor. the exchange rates closely, and A rather sensible solution has it is having an unsettling effect, now been found that seems to However, the commodity price indicate the cause as well as the slide was last month followed cure. by many price declines.

Sterling. While Lew can Britain now the heaviest debtor

Lead dropped by 15.6 per cent; zinc, cotton, hides and skins and rubber fell about IB per cent. and

Also cheaper are lace canvas goods, hostery, made-up clothing, boots and shoes, whale andoll, linseed oil, and imported soft

and hard woods.

Japon's 1951 acetate yarn and stople produr

tion reached 368.700,000 pounds, The current capacity is 346,150,- 000

pounds which is expected to rise to 501,251,000 by the end

of 1953.

There are--310-rayon--and acetate youn and staple plants

EMPIRE CONFERENCE.

It seems likely that there will

Commonwealthi be a

Finance Ministers meeting in London around September.

This suggested conference of the Sterling Area is the British answer to the The US. leads all countries Government's

inion in the world with

20

construction,

are to commence around Jumo. 20 and will be concerned with decision, on the new name of the company, the terms of the merger and other detalls.

#

Besides these companies, there are 23 other companies opara- ting today in Japan which belonged to the former Mitul Bussan organisation out of the Britain, and France, are 100 when the organisation was both to pay off part of the indissolved under the Occupation

regime. debtedness to Belgium in the form of arms.

Of these, the most important are the Dalicia Bursa, Kydato

Belgium has scarcely

gay Book!, Nihon Kikai Booki armament industry and that

for some of Murenach Busin, Cayo Bock! perhaps accounts her earning power.

this neat Despite

trado is European biggest headache.

pared with

and General Etiškán.

Merger

det projects within the solution Mitsul affiliates, hoitever, have Britain's been relatively low when con- those within the Mitsubishi amillabes,

fa vald that the smooth It Progress of the mergor plan of the Mitsubishi affiliates WILS

REVERSING A TREND Tory Chancellor Butler has imposed import cuts on European produce-semi-luxuries such as cheeses, wine and fit-that will make fum certainly, un- popular with the British middle- class housewife when the cuts come into full vigour.

In the non-cellulose category irritation Australia feels at the with production of 210,000,000 prosent Sterling arrangements. But the European

pounds or 80 per cent of the world total. United Press,

Pacific For East Live, Juc.

Fast Regular Trans-Pacific Service

DIRECT BAN FRANCISCO, LOS ANGELES

OVERLAND

NEW YORK-CHICAGO-DETROIT-TORONTO MONTREAL AND ALL AMERICAN & CANADIAN CITIES

Regular Service direét ór with transhipment.

Guam, Marinas Islands, Mlaroneslan Islands

Vezet

From

Arrives

Sall

For

“WILIJAM LUCKENDACE”

Gingoporo

June 20

June 29

Ġan Franclado & Los Angeles

via Kobo & Nagoya

For fall particulars call United States Lines Co., Goneral Agents, Queen's Building, Tel: 28100.

TACOTACE TACOSTACO

Thai Airways

CALCUTTA

RANGOON

CO.LTD

countries

chiefly due to the active tacking of the Chiyoda Bank, the former Mitsubishi Bank, as a major financing zounce, France. Press

~TIILUWAR*

"EASTWAY"

SAILING

Jun 20

June 30

July

July

July, 10

STARMANN *THWANGT

July

JPONDUR"

Jutt

HERPANAS

July

#THTJALENGKA"

*LUXE" *TJILUWAU”

"TJKAMPEK“

July 27

"TIWANOF

AGE.

"EASTWAY"e

Aus.

SITJALENGKA" Aug. 9

“THICDAH*

Aug,

AUK.

Aug. 21 Bapt. I

*THLUWAH"

"TASMAN" "TAWANOT"

"TJIPONDOK" "DOISSEVAIN" **TJILUİYAH” ."TJIKAMPEK"

"TJIWANGI"

.*TJILUWAH”

"EASTWAY" TJIPANAS" "THWANGU"

Supt. 5

Верк D Bapt. Is

Sept. 15

Oct. ล

Statute, Diskaffa

"Buraukia" at "Natakuaf

· Bingapore, •Belawan Doll, Penang &

Port Owettenitate"

Aingapore, Penang & Belawan Dall Mogapore, Djakarta, Bentang.

Suradila, a Macassar

Djakarta, Jirebon. Semarang.

Surabula & Matancer Manila, Bingapore, Pamung

B. Africa

Japan (via Manila)

Manife, Mingapore. Mauritiuk,

8. Africa & 8. Amorten Binkpore, Djakarta,

Surahafa di "Blackstar Dijakarta, Tieben,

warabala de Macassar

stazapore, DJakarta,

Burabola de Macassar

Retrazab

Semarang.

Semarang,

Hingapore, Penang Belawan Dolá Madila, Singabois, Mauritius

B. Afriend B. America

Djakarta

Tjirebon,

Surabala da Maonicar

Singapore. BJakarta,

Burabola & "MacassST

Benistang.

Setang,

Bemarang,

Singapore, Penang & Belawan Doll

Singapore, Djakarta,

Būrabaix & Matratar

Djakart

Titzeben.

Burabala & Macassar

Bemarang,

Manila, Singapore, Mauriifua,

8., Africa & B. America'

Singapore, Djakarta, Semarang,

Surabala & Macassar Djaketa. Tfirebon, Semarang,

Burabala MacayxAT Bingapore, Diskarta, Semarang,

sorabila de Macassar

ARRIVALS

Port

Гиля 30

June 19 SEAD

"TABMAN"

Juno

D

Starmar,

From

Buzabala,

Djakarta & Bingapore

Japan

Semarang.

Africa, Maurids & singapore Завсахнаг, Bumbala, Semarang,

Djakarta & Singapore

Japan

General Agents.

HOLLAND EAST ASIA LINE

· SAILINGS TO EUROPE

*ILITAN

"ALMKKER" PARENDSZERK”

"KIELDRECHTTM

BAILINGS FROM EUROPE

"ALMKERK"

ARENDSKERK”

"KIELDRECHT "RØDERKERK" "ALITAN"

Jolly

Atc.

Bepl

Och

#alls Lotterdam

Arrives Hourkene

sallad Mey

Aur.

Beut

Sept.

Nov.

Oct.

MAERSK LINE

FAST FORTNIGHTLÝ SERVIĆE TO:

NEW YORK, BOSTON, BALTIMORE ♣ PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND PANAMÁ,

NEXT SAILINGS.

MS. "LAISE MAERSK” M.S. "GRETE MAERSK”' MS. “OLGA MAERSK”

ARRIVALS FROM U.S.A.

MS. "OLGA MAERSK”

M.S. "JEPPESEN MAERSK” M.S. "HULDA. MAERSK”

June 17 July July 16.

2

June 17

June 30

July 18

"AÏECHAFT INDUSTRY

Tokyo, June 15, the Australian have retaliated with cuts against The International

Trade and Premierly

Mr Robert Menzies, British Industrial exports. during visit to London, has

Industry Ministry has tapped For Freight and Further Particulars please apply to:-- his

The trade balance, therefore, out a five-year plan for develop had no fortune with the Treasury gets no better-merely trade is ment of Japan's aircraft indus-

try, the newspaper

reported today.

or in raising a a loan with the more restricted. banks. He is staunchly sticking

Tokyo

The British policy is reversing Shin calls for & produc-

to his determination to maintain tho trend

pressed by

the

his own Import cuts against Americans during the Marshall tion United Kingdom

Goods.

Plan period for Australians are disillusioned | European trade. also by the report of the com-

end Quotas

on making Sterling a increasing,

The

of 800 aircraft in target more intra- 1055 and 1,500 to 1,000 planes In 1859. The aircraft will be barriers are largely small jeis and hellcop

for except

Westters, the paper ssid.-Associated Germany, which is now conduct- Press. There are unmistakable signsing a vigorous campaign to obtain of impatience, and the Finance | International permission to make Ministers' conference in Septem- the D-mark Into 4 freely ber may be stormy-with threats | convertible currency.

convertible currency.

of departure from Pakistan as well as Australia.

TRADE PROSPECTS The latest United Kingdom trade figures, just published, for the month of May, Indicato that "Imports will have to be cut back very substantially in the second half of the year if solvency

74C74CENTACOSTACOZ

“THE TRADE ROUTE OF THE ORIENT"

SODANGKOK

PENANG

SAIGON

SINGAPORE

HONGKONG

TAIPEI

OKIHAWA

Enjoy "SKYMASTER"! comfort and speed. For business or pleasure

THAI AIRWAYS CO., LTD.

Peninsula Hotel Lobby Phone: 88805.-

STACOSTAC

Tuna Tariff Prospects

Tokyo, June 18.

HONGKONG SHARE MARKET

(From Our Corrospondant)

There was Boine Improve- Both Japanese Governmentment in business on the Stock and trading circles are optimistic Exchange, this morning, total that the bill for higher tarifs value of shares changing hands on Japanese canned turn im- being $284,031.30. Noop quota- ports into the United States will tions and the morning's transac» not go Into

tions:- This

optimism is BHARES.

8_BUYENS SELLERS SALES based on the fact that although BANKS

IX Bank... 1278 1400 Congress is due go into recusa Kast Arla, (INSURANCES

on July 3 and the bill will have

оп

lo be approved by the Senate by June 24 to avert the Presidential

been

Union ............. 73715 740. 59.0 T3D Underwritur SHIPPING

pocket veto, the bill has not yet Asia lav

placed before the Senata | DOCKS, ETC. plenary session.

Japan hopes that the' tuna tarif increase bill may not para the Senate by this dendling and, if passed later, may meet the pocket-veto-France-Presse.

· Rubber Futures

In S'pore

·Singapore, June 16, **Prices of rubber fülutes closed

today: as followɛ;~-

-Number 1, rubber; ner ihya

August

Number, 4 rubber,

Nimber, rubber, July

Spat rubber, unbill

Hilankot, crepin

No1

100-110

ifted Fres.

K. Wharf, N. P. Whart Prevident Wheelook

LAND, ITC.

2516 Mcket RIK Land

Humphrate

UTALNYTIM

0.00

14

635 2006 à 0.70

AGENTS:

JEBSEN &

Podder Building.,

Record

Business

CO.

Tel: Nos. 36066-9,

IRREGULAR

TREND

Transacted IN COTTON

New York, June 15. The cotton dry goods mar- Keis did the biggest business of the year this week.

Now York, June 15. Cotton futures turned irregu- lar this week after nearby spot wellvery touched the highest

said it ran level in two months.

Just how much business was done became a moot questión.

Some converters into millions of yards.

While the rise in row cotton

feured

At Friday's close the list prominently in stirring rulot 36 points higher to B buyers out of their year-long vulnis lower or $1.80 a bale lethargy, influential mikimen higher to 40 cen's a bale lower abid it was the fact that whole than the preceding week. railer and retaller inventories expartly have been utilized

to the bone la some intion on July delivery, before stances and that a more than the first notice day on June 25.

kal

amount of replenishment

tuving had become necessary.

Traders, centred their atten-

Spot month toughed 40.48

One expressed viewpoint was cents a that an even

could have

larger

volume Somo of

pound on Monday, establishing is highest prico

the big producers had not since April 12, and then dropped

withdrawn from the market.

segment of the trade

back to close this week at 40.19.

Open contracts, in July this that a rise in raw cote week ton above 40 echts a pound made 500,000 bales, traders estimated. reached approximately siness unprofitable and como Tram, 25 2016.10 800-10.19 of them hela

out for higher Certificated stocks available prices;

for delivery. amounted to 80,070 Colion yu

prices

deobales. A showed diardening - trend.-a? United Pres

C. Light (6). 8.35

C. Light (N) B.CO -Electric

INDUSTRIALS

Cement

STORES, ETC.

Dalty

L. Crawford- COTTONS

FAWD

413CELLANEOUS

Yongue-

8.0

Apart from the July altuation; traders found reasons for ule buoyancy in the unexpectedly, market activly, plus the Ad- tinistration's indication favour

the continuance of high price supports for the six batle, commodities through 1085 and Indonestà e guilders (per 1001 - 2013 concern over the internationak situation: ---- United

Exchange Rates bland development or texule

thing

Durness wae done in the local thofficial – exchange / market mpering at the following rates:== V.B. dollar (ber #1),

10.000

Meritna gote íper £1) MASAL 56.

Niam tigala, (nur 100).

Bingapore (Btraits)

$2.7

1.

political

#IG DIMILION (per=100)

Litato Excas.