1952-06-19 — Page 9

Page

MESSAGERIES M

"DIN NAKEGI” “

**LA MARSEILLAISE'

"MEKONG";

MONKAY”

+"MEKONG",

THE CHINA MAIL, THURSDAY, JUNE 19, 1952.

Page

MARITIMES WORLD'S RICE SHORTAGE ROM INTEROCEAN LINES

Arriving' Leaving

June 20

June 20

July 1

July 1s

July 21

1

July ...June 10 **LA, MARSEILLAISE” July 11 July 13 +BIR HAKED”

July 32 *July 20

Ang. A Aug. 10

M

Outward For

Ja

Kahi di Tikohama

הבלט!

Homeward For

N. Aftica Eproper- Marselion via Balgon N.,Aides & Enibpe N. Africa & Europe

For Passenger and Freight. † freight for Salgon, Alexandria, Tunis, Genos, Marseilles, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp, Rotterdam & all Mediterranean ports vin Marseilles and West Africa by Transhipment. Madagascar by transhipment in Saigon or Djibouti.

Bobject To Change Without Notice,

CIE DES MESSAGERIES MARITIMES P.O. Box 58, Hongkong Queen's Building (gr. floor) Tel. 26651 (3 lines).

EVERETT

E

LINES

EVERETT ORIENT LINE

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

"LENEVERETT”.

Arrives June 22 from Singapore, Sails June 23 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 Ports,

FIRST CLASS PASSENGER ACCOMMODATION

M.S. “STAR BETELGEUSE"

Loading June 24

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

Basrah

Karachi, Bahrein.

&

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophone 31206. Chindeo, Department: Telephono 28293,

REMEDY

Foreign

SUGGESTED Exchanges

FOR SLUMP

Severat

Manila, June 18. members of

In N.Y.

New York, June, 18.

the Canada

England--official

unofficial

Senate Finance Committee to- day advocated lifting the import controls for a and exchange ONO OF two-year experimental period as a means of averting New Zealand the

business slump South Africa expected

Beigtum during the coming fecal year, Denmark However, Opposition Nacions France alista Senator Cipriane West Germany Primicios, the Committee Hollan

US$ 1.02)

Aid For Japan Called For

New York, Jhuo 18. The newly-appointed Japanese Ambassador to thd United States, ALF Eikichi Araki, last night called for industrial stil for

and access to world

markets for his bountry.

Me Araki, Who wee ad- resadg members of the

Sdelity

here Japan is faced with many grievous problems. To survive, cur people must labor Hard, but they are willing and want to work. They only ask tolerance from others.

"Tilty ask for abcess to the raw materials they need and to markets for their goods," France-

Move To End Price Control

SUGGESTION BY COMMITTEE

Paradoxical Position Arises

Poorer Half Of World Eats

Most Expensive

London, June 3.

Rice is scarce and dear, standing now at a peak level of around £75 a ton for Burma No. 2 f.o.b. Rangoon, even though so many commodities,

Cereal

Japan's

including some other cereals, especially barley, Pre-war

have fallen sliarply in price during recent monthis..

ނ

For about half the world, wheat is the basic foodstuff, but for the other half rice is the staple.' Since rice is now much dearer than wheat the paradoxical position-brises that the poorer half of. the world eats what is at present much the more expensive cereal, says the "Financial Times.”

to

surprising

Debts

TALKS IN JULY

Washington, June 18. American officials said Output of rice has not ex-ful enough to contribute

the Foreign' today that. panded in the with the rapid-continuing inflation in world Bondholders Protective ly increasing population of the rice markota,

Association, a non,official Enat.

HOPE FOR FUTURE And the amount of rice en- Nevertheless, the

organisation, will represent tering world trade has been extent to which other grains the United States holders halved. Before the war the are already filling the gap of Japanese dollar bonds at Ave-year average of exports rice supplies does provide hope from Burma, Slain and Indo- for the future.

the International conference China was 0.3m. tons, of which

on Japan's pre-war external About

14m. tons went to

indebtedness, to open in Europe and the West Indies, 41⁄2m.. fons for Eastern

New York on July 21.

Its

trias

British and French holders of Japanese bonds will be repre- sented by comparable organisa tons but the Japanese deityn- tion will be a Government one. out- The dollar bond issuta standing total $76,000,000 with accrued interest of $43,000,000.

bonta Sterling

and Interect amount to more than twice tha

Without such a measure of hope the world rico outlook would indeed be grim.

The fact that rice is so dear in relation to

to other cereais hus Last year rice exports from also encouraged expansion of the same countries amounted to

and exports from 3.15m. tons, of which 2.08m. coun outside the Far East, Washington, June 18.

tors went to Eastern counttles for instance, the US.

US. Italy. and Egypt. Egypt has This fall is the result of Brazli A new move to kill all

in recent years been selling andi | in wage and price controls political strife in Burmal

Indo-China.

her annual surpluses of rice to took shape today around

have been the Eart and feeding the greater recommendations of

severo for India portion of her population with the parti repercussions House Labour Committee and for various Commonwealth wheat and flour bought at for abolition of the Wage countries, Ceylon, Maloya, Hong-something like half the price.

Mauritius

TAIWAN SURPLUS and the Sev- kong,

for Stabilisation Board (WSB),

example, Which

Taipel Melies,

always had

Mr Li Lien-chung, Commis- e to import By a one-sided vote, reported

found slaner for the Provincial Gov- to be 10 to 5, the committee rice. Lately they have

dificulty in securing anything omment Supply Board, told the last night went on record in a

quantities, be- Press today that Taiwan will be seven-word recommendation to like adequate

cause Japan also wants rice. able to export 100.000 tons of the House: "The Wage Stabilisu

surplus rice this year out of a tion Board should be abolished,"

estimated output of 1600,000 tons-France-Presse."

The committee's netion came as the House cleared the way for general debate on the Defence Production Act. Among other things, this would extend wage-price controls for another year starting June 30,

The committee's verdict gave powerful ammunition to leaders of the night to end wage-price controls when the bill comes to a vole later this week,

The

committee itself almost went all the way, and recom- mended elimination. of wage controls along with the WSB, which fixes Government policy on pay rules,

After first voting to kill off wage controls, it. reserved it self on second thoughts and left the matter to the House.

The Chairman, Graham A. Bardon, of North Carolina, told newsmen that committee meme bera concluded the subject wege controls "was a little bit out of our deld, with price controls still in effect."

of

JAPAN'S POSITION The latter country, having so far been well provided with dollars since the Korean DUI break, has occupied a strong position as a buyer.

come

Even the UK, in alling its Even ins awn relatively minor domestic consumption needs, has up against the uncomfortably competitive power-of Japanese dollar buyers.

debate A recent Commons underlined the dangers of tho rice scarcity.

.Values of commodities like which rubber, tea and copra, are experted by Ceylon, Malaya and Indonesia, have now fallen sharply, but the cost of the rlee imported by these coun- is as so far lended to rice,

of

No

June 17,

وميا

HONGKONG SHARE

MARKET

(From Our Correspondent)

amount.

"EASTHA

VAIDING E

Bildgkirt" Telawan, telt, Desaing; th

An

Singapore, Penang & Belawan Dell Bingapore, Djakarta, Bemarang.

Búzabala & Macassar,

Brabod

UNDERDELE & Blacassar Arahim Singapore. Penang

Pang Africa:

Jubari, (via Blan!la)

Bingapore, Mauritius,

10. Africa & 8, America Bingapore.

Djakarta Semarang,

* Butabala de vieratkar

Daldeta TRředon, Kétmarack,

Burabala & Alacassar

Singerāre, Djakarta Samaror.

mürabnin, de, STREBUJET

Ningapore, Paning a Delawan Dou

paulikaduro, Manil

*TIPAÑAS" "TASMAN "IJIWANGr

"TJIPÓNDOK".

July

"TJITJALENGKA" ***

"TJILUWAN"

Jaly

M

auty sa

July 21

Aug..

Auti

Aur

AUK.

Aug. 12

Aug. 10

Aug. 21 Sept.

Sept. 7 Bapt dept. 10 Sept. 2 Oct.

Hurabals & Macamar

ujakarta, Tiirebon,

Beluara

gorndala & Macáizer

"TJIWANGI" "EASTWAY". "BO188RYÄIN" "TJITJALENGKA“ -TJISADANE”. "TJIBŪDAS“

"TJILUWAII** "TASMAN"

THIWANDI: "TJINONDOK" "DO19SEVAIN” “TJILUWANI.

"THIKAMPEX"

"TJIWANGI".

"RASTWAY

·STIPANAS”

TJIWANGI “TIILUWAR* "BUYS"

Juna - 23

June 2

Zdne

June

• Africa @ 8. America

Japan. Lukatts,

Thirebon.

Singapore.. Djakarta,

Burabola di Macair,

Surabain & Niacessar

Mahfilius,

densarády,'

Singapure, Penang D-Helawan Dşü Bingapore, KJakarta, Sansamng,

Búrabala & hincasar

Djakarta, Thirebon,

. Rorabnia & Macassar

Bingapore.

8. Africa &. 8. America

Bemarang,

Mandi

Mauritiu Singapore, Djakarta, Semarang,

From

Aingapore, Djakarta, Semarang,

Barabala & Macassar

ARRIVALS

June 20

Japan

*Africa, Mauritius & Singapore MÁY, Surabala, Beinarang.

Djakarta & Singapore

Japan

барда

General Agents.

HOLLAND EAST ASIA LINE

SAILINGS TỎ EUROPE

"BLITAR"

Jely

MALMKERK"

Aus

"ARENDSKERE”-

Sept.

"KIELDRECHT"

Urt.

SAILINGS, FROM EUROPE

"ALMKERK"

Bailed May

Balla Trotterda

-28

Arrives Hongkong

as

"ARENDSKENK"

July

July ADE

"KIELDRECHT"

RIDDERKERK' *BLITAB"

Aut Bept

The amount of bands held by French WD described negligible. However,, they will

represented.

Mr Takest Watanabe, Coun- sellor of the Japanese Embassy here, is to leave New York on Wednesday for Teliyo to discuss with 106 Government the indebtednes

it is question. understood that he will be a member of the mission whileli Japan will send to New York for the July meeting,

The Japanese Guvernement flas shown itself anxious, to ɑnd d method of handling the pre-war bonded indebtedness.

The only

Harbour. Ont

the

question. is manner of taking care of the more than 10 per cent interest which has accrued since Pear!

suggestion the accrued interest bo converted into

and in- principal teres: to be paid lienceforth on Business continued very dull the inlated indebtedness. It is the Stock Exchange this believed in financial circles here morning, total value being only that the principip' is 20 be

French and American countries have in the Trust insi insisted strenuously on

of "most KEVOLTE ptication mation" treatment in such matters.-United Presa.

תם

ong denies the seriquimess $43,056, Noon quetallons and Died: do Bands and all the

the present rice scarcity, Yet in the background there are some important off-setting factors which have to fur ro ceived little publicity.

CHANGING HARITS

The bulk of the world's rice is consumed and will continue to be consumed by the familles The WSB has been under fire who grow it. -from-Congress -- since its-con-It-is-within- the - - relatively- trovarsidd recommendations in small fringe of production ch the steel dispute, Assolated tering into International trade Press,

that the present scarcity mainly felt.

Cotton Price In

New York

New York, June 18. Prices of cotton futures closed today as follows:-

Spot.....

July

October

December

March (1053)

May

July

October

December

41.00 nominat 10.63 37.52-37.53 $7.30-31.1 37.10

And despite the conservatism

food habits in

of the East,

the morning's transactions

BUATES BUYERS BELLERS SALES BANKS

IIK Bank G6 1975

· East' Asia

-8 e 1985

141

INSURANCES

Union** „Underwriters

735 745

5.00

SUPPING

Asia Năv, .. 112 DOCKS, ETC.

K. Wharf.... #7

100

N. PL. Wharf 0.50

S'itni Dock .. 1.20

0.10.

41

100 411

10.90

LAND ETC.

c Hotel...

HK Land

S'ha! Land...

Humphreys,

UTILITIES

·

Tram...... 15.70 15.90 500 13.80 C. Light, (0) 81% 0,40 C. Light (N) BIG 440 Electric .....31.ID 21.40 Telephone

rice-importing countries aro It is not

generally to onli

what extent the shortfall in rice imports to Eas. term countries has already been INDUSTRIALS made up by increased offtakte of other grain.

A recent article in the Lon- don Rice Brokers' Association's circular points out how Eastern populations are being compelled to "make do with other food. INDIAN IMPORTS Before the way alt Indià am- NEW ORLEANS MARKET ported annually, about

October

2.7016 2.00 bla/ 2.49 paked

Spot

* 30 day futures ** 00-day futures Australia

2.70 2.17

July October December

FL3% 9.77 2.7811

1485

March (1953)

May

July

4.20

.1405

.0370 .0305

0933

Chairman, opposed the plan on Norway," the groutid that the country's | Portugal dollar reserves will be drained Spain

the

proposed "free" Sweden

Switzerland.

મ

during period.

Ho stressed the necessity of aiddis Esst controls until the present trade Egypt relations between the Phillip Iren pines and the United States aro

Turkey revised

Proponents of the plot argue Latin Ameilda that essential goods from abroad Argentina could be stockpiled during the Brazil free period so that merchandise Bolivie

Colombia would be in abundance and lo trade could te entries, on at the Cuba normal pace when the controls Mexico are reinforced.

Peru Uruguay

However, they sock a strict Venezuela

faventory by the Government ef Imports to avolit hoarding and Far East. profiteering during the period of India scarcity:

Pakistan

Indonesia

According to figures complied Hongkong by Senator Primielny, there will Bingapore be a large trade decline in the Japan next year-France-Presse

.0020-9/10

December

30.07 30.51 bid 34.10 bid 36.08 United Press.

40.00

90,50-40.51 57.80 37.23 37.15 bid 30.04 bid

34.98

Préss.

Cement 24.10 400ị@ 16.20

Rope STORES, ETC

Dairy COTTONS

EWO

15.70

17.30-

10.00

1.05

Israel Orders From Canada

Montreal, June 18.. Israel has placed orders.ior more than $500,000 worth of Canadian products.

Mr Dickstein, Chairman of the

Oct...

MAERSK LINE

FAST FORTNIGHTLY SERVICE TOỂ

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via “BAN FRANCISCO, LUS ANGELES AND PANAMA,

NEXT SAILINGS

дяно

M.S. "LEISE MAERSK" M.S: "GRETE MAERSK” MS. "OLGA MAERSK"

Scheme For PI Development

June 21

July

July

June 30

July 18

Aug. G

ARRIVALS FROM U.S.A.

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

Economic For Freight and Further Particulars please apply to:-

Manila, June 18,

Dr Clarence Decker, Assistant Administrator for the Far East for the Mutual 'Security Ad- ministralion, left Manila" today for a tour of the Southern Philippines area whore the United

Stati agency plans

develop economie

A largo ment programme.

"

AGENTS:

JEBSEN & CO.

Pedder Building.

The Rubber

Markets

Singapore, June 18. Prices of rubber futures closed today as followe Number 1. rubber, yaz ib.

July Aujjust

September

Number 2 rubber, July Number 3 rubber. July Number rubber, July Spol. rubber, unbated Blanket crepe

No. 1 pale arepe

Dr Decker was accompanied by Dr Roland R. Cenne, chter fons of rice, mainly from Bur-

of the MSA mission in Manila, ma. Since the war imports by

who lus worfied oul with the, whole India of grains as a

Philippines Government a pro- Eave increased appreciably (be cause of the rising population)

grams to open up fertile regions in Mindanao to agricul- tural and industrial develop but rice has played a relative ly small part,

ment In 1951 imports of all food Canadian - Palestine Trading The MSA programe is de grains amounted to 4.7m. tons, Company, told reporters after a vated principally to

opching of this total rice from trip to Israel that the orders ronds Into regions which have New York Sugar Burma and Thailand made up

only 645,000 tons.

plies hid $200,000 worth of Futures

rrigation projects and harness- trebled asbestos and farm implements. ing of available hydro-electric Although India has

have her food grain imports the Israel buyera Now York, June 18.

power. consisted ordered book paper and news- main supplies have

The planenvisages tho World sugar futures closed of wheat and dour, maize, bar print and a large shipment of unchanged to 4 higher with salesley and ryc

eventual self-sufficiency of the lumber. Ualted Press. totalling 100 contrad's..

The abnormally high

Philippines in food production as well as mereased, exports of, raw materials for foreign ex-Margli change,

included $300,000 of medical sup- a high agricultural poteltial,

also

Exchange Rates

2.0912

2.01

.8373

Contract No. 4 (World)

July

410 bid

September

.0063

November

10 bid

.4023

Spot

Contract No. G

July

September

November Spot

4.19

8.00 bla 6.13 bid 0.14. 0,03 Press.

prico large Contract No. 6 closed 13 of rico has necessitated changed to 2 Higlier with sales | bubsidies in distributing im- totalling 558 contracts..

ported supplies and, so the In- dian authorities have preferred

Busino was done in the local to take advantage of available

thla Junofficial exchango, market supplier of other equally tutri-morning at the following rates:

aro U.S. doliar (per #1) tious food graine

10 UBE. 1

360 yen

United Press.

In Taipei

****

Japan Ships Gold

Talpel, June 18

Japan Trado Mission

Trade Increase

Predicted

new

hvaliable far cheanaich

Japan has taich similar treasures. Before the war the imported annually about 1m. tons of rica from Koren and

-4.525 10.02 Sterling note iper 411- Indonesia guliders (per 100) 314 Bin ticals (per 100). Singapore (Straits) FIC plastres (per 100)

31.00

17.20

Mindando Island, & largeht

cept for Luzon, is believed to be

to

8931-00

2015-07

832-1

Tel: Nos. 86066-9.

Grain Prices

Go Higher

Chicago, June 18, Grains joined most commodi- ties in an upswing featured by strength in soybeans, sugar and

rye,

Wheat closed to higher- 70 and soybeans were 1% to 3% higher, Prices of grain futures closed today as follows:- Wheat-price per bürhel

107-113

***United Press. NEW YORK MARKET

New York, June 18.. Prices of rubber futures closed today 15 to 20 lower with saics totalling 156 contracts... Scriember

Getober

November

December

January (1953) February

July

capable of development sum August clent to raise present Flupino Beptember living standards and to provida

room for

population growth for 1831 the next 50 you but the for- Large areas ere still unexplored, tile highlands in the centrif bron have been tested and found

JAPANESE BONDS

London, June 18. Japanese

Gorets "A" (43. of 1820) 78

“B” (43.- of 1907) 0415 14

"D" (58. Of 1034) 06 “E” (51⁄44% of 1034) 12015

FormbTHER CEREALS

These tupplies are no longer pblainable, and the doflelt to with being made up mainly

and flour, barley and Toint food grain imports have more than doubled but in the Consola apabi 1950-51 scanda rice mato up other only 700,000 tons Widje Betwee

cereal imporis reached nearly In bus m. tons. commercial relation will permit Blending of barley with rico" our factories and dus merchants has been succentful, andis place

Paris, Juno 18,' Kunno - Nishimura, Japanese Ambarsado, la France, predicted in a statement today sharp Increase soon in trade

colin Countries.

Close

tho two

capable of growing many types of crops.Associated Press;

of 1010110 Pepper Market

50

Unlles Press.

V

for!

54

Spot.

July September December

March

29.45-2040

May

Corn

28.40 nominal

2001 nominai Spol

28.03

27.10 nomihal Beptember

273 nominal

27,00

December

bre.

27-15 11h1 March, 26.63 haininal July 26.47 nomina Beptember 20.15 hominal Qata 25.73 nomina! July

25/5 nominal Beptember

faited Presă,

LONDON · TIN

MARKET

London, June 18, Tate · triärköt, turnover whs 15 this, Intelùding Bve tons fer cash," Prices, closed nự thỏ end of the official morning chrsion as follows;

spot tin, hukuru vald,

pol Lin, 'sellers Three-montits tin, buyers Düsiva, đọnò, at

Three-monthe tin, there Buning done at Spillement,

070

231-2.32 nominal

1.8912 bia

231-73114 2,1015-14

New York figurer 400 th, Back $12.60 nomina),-United Press.

Wall Street

Advance

New York June 18. Fricts bh. the stock exchange

climber fractions to over a point, Denlingi picked tip, to 1,270,000

New York, June 18,

Alrerats were Higher about a The pepper

martock ruled

point Chemienia were on the quiet today with the undertones

downside a point or more. Of 1,060 vlasuba", traded; 405 nd- Sords And Oils

somewhat softer as buyers head

vanced: 529 declined at 290) Yokohama, June 18.

more aloof,ROS

United Prose were unchanged, deta Der New Yürk, June 10. Japan today shipped $17,000, A 30-makt Japanese 000 worth of Bold Bullie

spot Prices in the studs and oils material was from $1.40 to $1.50

Dow Jones averages at the end AND NOW York, June 18.

of the sesalon stood as follow

·mleston, comprising

to create a large Incitase Ui but supplies of Japanese-grown market closed change will a pound, Mattosti 31.40 10:41,42, Copra was quotcu also industriale a budnemmen and Journalba, ar- New York, the first mich

our commercial exchanges in pice

20 rails rived here today by CAT plane, ment to letvis since the war. The.

Flax Beca per bushel, FO.D. straight June 31-35, July 120, Coconut oll was Esti... substitu“

quoted 4 16 unities kong after a few days stay in Lernational Monetary Fund two peoples" he said.sting other cercals, Japanese Minneapolle $4.02, Uniteti, August:81:25 tu pound, a on on

cents a pound, adood-United 40 bonds; United Press.

sociated Pres

buying prosruro" la stilt, power- - Press,!!

cx-dock, basis-United Press, Prons,

They hong to pitbobit to Hunf- }móhwy, will bd pali'itita' 118-The 'thu ́rectprivat ́interest of bur, l.. DUNIA RUBEN BEZAKE as this following exceptleri: 2 NOVA 2010 frat bide puta) 110-1A, AB. për, aliort teh, Dominal.

-Prosin

100.14

209,09

49.77

United Press