1952-06-20 — Page 9

THE CHINA MAIL, FRIDAY, JUNE 20, 1952.

Page

MESSAGERIES MARITIMES COLONIAL DEVELOPMENT ROYAL INTEROCEAN LINES Newspaper Criticism Of Mr. Lyttelton

M&M

"EIR HAKKIM”

Leaving

Galwird. For

Kobe & Yokohama

Arriving

.June 20

Гиле 10.

Japan

*"LA MARIKILLAISE" ..June 20

"MEKONG"

July 1

15

July 2

*"MONKAY”

*"LA MARSEILLAISE” „July BIR HAKEM” ...................ansďuly "MEKONG"

July 1

Homeward For

N. Africa & Europe

July 18 - Marseilles via Salgon

N. Ažica & Europe July 2 B Aug. 10 H. Africa à Europe

20

• "For Passenger and Freight, † freight for Saigon, Alexandria, Tunis, Genoa, 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 58, Hongkong Quecu's Building (gr. floor)

EVERETT

Tel. 26651 (3 lines).

LINES

EVERETT ORIENT LINE

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

"LENEVERETT"

Arrives June 22 from Singapore, Saila June 28 for Japan.

"NOREVERETT"

Arrives June 30 from Manila. . Saile

•

July 1 for Singapore, Penang, Calcutta. Rangoon &

EVERETT STAR LINE

Fast cargo and refrigeration spaces available for Korca, 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

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

EVERETT STEAMSHIP CORPORATION S/A "Quoon's "Building, Tolophono ̄31206. Chinese Department: Telephone 28293.

Prices Of

FOREIGN

IN N.Y.

Jap Goods EXCHANGES

Up In Pl

Manila, June 19.

The uncertainty in commercial Canada

England

2.07 bid/ 2.00 asked

New York, June 10.

US$1.031 Miciel uno meial

30-day futurem 10-day, futures Australis New Zealand South Africa of Belgium

relations between

Philip- tho pines and Japan, due to pas of Opposition Na- tagonism

the ratifi- clonalista Senators to cation of the Japanese peace treaty, is being reflected in

upswing in the quotations Denmark some Japanese goods here,

It was reported that prices of West Germany

construction

Holland materials from italy

·Japan and other steel products, Norway. including structural items, aro Portugal

Sweden moving upwards as there is Spain little hope of additional imports Switzerland to replenish

dwilling tho

MIDDLE EAST stocks.

Egypt Trade IntercourAo

between

Irant Japan and the Philippines per raq milting such importations will Turkey terminate on June 80 due to the

LATIN AMERICA non-ratification of the Japanese

Argentina Brar... treaty.

Boilvia

Colombia

The trade agreement with the Chile. former 5.C.A.P. expired Os cuba April 28 with the coming Into Mexico

Ferti force of the perce pact. It was

Uruguay extended until June 30.

Vanerunte

beenFAR EAST The Philippines has depending heavily on Japanese India wi steel and construction items for Pakistan the past few months due to the Indonesia dificulty of obtaining them from Ringapore

currently Japais the US which is

giving priority to her arma-

ments...“programme,

Presse.

France

Hongkong

MITIV

DIDSS 1455 0020-9/10

1403

2315

20815

03125

2.01

5373

,6840

0300

.cons

4073

3,00

$11:5

.06.20

.$775

2003

Japan-Taiwan Barter

Talpel, June 10.

According ta reliable sources a new barier pact is to be signed between and Taiwan, in- Japan crossing the voisine of exchanged goods 100,000,000

new dollars to 160,000,000,

from Taiwan

Each side

belde will have a

credit credit of 80,300,000 new Taiwan dollars for a year. Taiwan WUI continue to sel to Japan rico, sugar, kalt and fruite; and Japan- will send fertilisers, light machinery. metals and

texdica-Fratico-Presse,

Indonesian Financial Position

Not Enough Being Done In The Sterling Area

London, June 13.

An editorial in the influential Financial Times, giving whole- hearted support for the development of Empire resources, has prompted criticism of the Colonial Secretary, Mr Lyttelton, and the President of the Board of Trade, Mr Thorneycroft, from the Empire-conscious Daily Express.

The Express commends the Financial Times for "a closely reasoned leading article" which insists that the only way to permanent British re- covery is by the extensive development of the Colonies and by the integration of inter-Imperial trade.

*

Then, discussing the Colonial Offico and the Board of Trade, the Express editorial says the occupants of those jobs-Mr Lyttelton and Mr Thorneycroft- have much in common. "Both talk vaguely and platitudinously about the Empire. Neither of them ever makes the slightest effort to bring its glories into being.

Mr Hopkinson replied: "The "Mr Lyttelton is the big disap- pointment, for much was ex-purpose of the Committee was pected of him. It was believed to review the possibilities of in- he held the Imperial faith. Increasing Colonial production In contrast, little was expected of the light of present and

prospec- Mr Thorneycroft. But, in fact, tive world needs. Their reports intended, a Mr Thorneycroft gives less than provided, as little. Not only does he do useful background-against which nothing to advance the Empire spoelfe schemes of development be planned both ky Colonial Governments and by could

private enterprise."

“PRECARIOUS AND, he does much to impede

SOMBRE"

"The

Express refers to Mr Thorneycroft's most recent state- ment on

G.A.T.T. (General

chokes and

C

Djakarta, June 19. Agreement on Trade and The Indonesian Govern-Tariffs) "the International ment said today that the agreement which

stilles Imperial trade," Island Republic's Ünancial

"Mr Thomeycroft hints that position is "precarious and Britain may quit G.A.T.T. But sombre" and general con-when? He tells the Commons that an escape from G.A.T.T cannot ditions are "gloomy."

101?

Wis

NO SURPLUS MEAT

The Minister added that it was not possible to say which of the various schemes started since the Committee reported, resulted from the Committee's work.

Budget Deficit In U.S.

LESS THAN THE ESTIMATE

Washington, June 19.

JAILING:8

dann. 129

To

-Hingapore, Palawan Dolli Fanang d

MMERPOIN..

Djakarta, Gomaring,

Kursbala di "Discansar

Bingapore, Penang & Belawan Ddit

Japan (via Martila)

Jakarta, Tilreton, Bumarang,

Bursitis di MUTARAAT E

SISERNOTE,

Africa

"EASTWAT

#TILIANABWAS TJIWANGI"

Jaty

"TABMAN"

July

*TJTJALENGKA" July

"TJIPONDOR"

Joy

**TJRANÁE**

"BUY"

"TJIE.UWAZIW

“ZJIKAMPRE”

"TJIWANGI":

July ་

Fuly 9

Jply 14

Joly 27

ABX.

Manlie

Penang

•

Mazelting

Gurabila 4 blacassar

Djakarta, Tiirebon.

AUS.

AUR.

"EASTWAY”

"10188EVAIN”

"TJTJALENGKA” Aug.

"TJIBADANE" "TODAY"

"TJLUWAIIM

TASMAN "TJIWANGI “TWITONDOK" "T01BFEVAIN"

***KJELUWAR**

“TJIKAMPEK”

*TJRWANGT

AUE. +

Aug. 13

Aug. 14.

Apr. 21 Bapt

Dept.

Sept. Bept. 18 Dept,

Oct.

"EASTWAY" ATUPANAS" "TJIWANGI" "TAIMAN"

Singapore.

5. Aitton * 4. America Singapore. Djakarta, Batsarang

Burahsia M MACHSERT

Singapore,

Djakarta.

Semarang,

Bemarang,

Burabaja di MischiDAT Singapore, Penang &r Bolawan 'Deli Japan Manila, Singapore, Mauritius

B. Africh & §. America

Japan

Lijakarta, Treben, Bemarang,

Surabais & Macassar

Blogapore. Djakarta, HEMATADE

Burabala & hincansar " Ringapore, Penang & Belawan: Dell

singapore, Djakarta,

Surabala Macassar · Djakarta

*Roq=1][I

Barabain "Macassar

singapore,

8. Africa & E. Amozten. Singapore,

"Vorabila a Macassar

Djakarta,

Sematang,

Semarang,

Maurities,

Semarang,

Tjirebon, Semarang,

Kozabila a” Biacassar

Bingapore, Djakarta, Semarang,

Burabala' & Macassar

ARRIVALS

Zone' 2

Supe

June

Jule

Japan

From

Africa, Bauritius Singapore Metastar, Burabaja,

Djakarta & Singapore

· JADRA Japan

General Agents.

HOLLAND EAST ASIA LINE

SAILINGS TO EUROPE

"BLITAR

"ALMKERK”

"ARENDAKENK"

"KIELDRECHT"

*ALMKERK”

ELITA

Komarany,

Oct.

MAJIN Rotterdam

Arrivas Hongkong

Failed May

July

Nor.

The Government Will SAILINGS FROM EUROPE wind up its year two to Answering another question three billion dollars better But United Kingdom obtaining op- The admission came a few

about the possibility of the off than it expected. hours before Premier Wilpo's

preciable suppiles of meat from it will still be deep in the three-month old Cabinet was due Must Emolre trade perish while Colonial territories, Mr Hopkin- red.

to face a Parliamentary vole of confidence.

а

Replying to a debate on number of issues, the Promier read a statement tracing his Government's efforts since it took over on April 1, after the regime of his predecessor collapsed in dispute over whether to accept Mutual Security Aid from United States.

Regarding relations with Japan, Mr Willpo said:

the

"There is a strong trend in our country that rejects the San Francisco Treaty because it regards acceptance of it as taking sides with the Western Bloc and as deviating from дл independent polley.

cannot ignore "Howover, we the fact that Japan has now become on independent and sovereign State.

"Therefore, the Government has adopted a middle course chd awaits further develop

expansion

conTM

even be considered til after the merece trade perials while Mr Thorneycroft cogitates?"

The

Flanncial Timer centrated most of

of its editorial on the

of raw materials It production in the Empire,

the ponsibilities of greater were, of course, not unknown. Nor would the dif- ficulties which had prevented their realisation melt away before a conference. At the very best, decisions taken now would take years, not months, to fructify.

URGENT MATTER

"What an Empire conference could do, however, and what should be done even without a conference, is to publicise the implications of concentrating on production in the Sterling Area," continues the Financial Times.

"One thing is certain. longer those schemes take to longe mature the greater Is the danger that some crisis will intervene before they can make a signi- ficant difference. What is needed The Government deems t a much greater sense necessary to keep up existing urgency in hastening them for- Arade relations and for this pur- ward.” pose plans to open a Consulate- General in Japan."-Associated Picss

monts

In

Advance NY Cotton Futures

New York, June 19. Cotton futures after a buoyant start regained rallying power, finally to close within striking distance of the day's best levels. July reached 40.68 cents a pound.

The Financial

son sald that apart from a little canned beef from East Africa from the and some mutton Falkland Islands, there was no surplus meat available from the territorice.

"In most territories there is a demand for large and growing meat which is 'at, present unsatisfied. Imports of carcass meat from many parts of Africa would in any case be impossible owing to the risk of infecting our own livestock with 'rinder- pest."

Government experts, speaking privately, said today that the deficit the amount by which the Government overspends its Income Ikely to be less than 8 billion when the fiscal year ends on June 30. It might be as low as 5-1/3 billion.

President Truman, in his budget message. Inst January, felt would be $8,200,000,000. estimated the Government's de-

The President estimated total spending would jump 59 per cent above last year due “tớ a Asked about a possible ex-huge expansion in rearming the pansion of maize growing in tho

U.S. and friendly foreign coun-- Colonies, Mr Hopkinson tries. But the military expan- maize was almost entirely t

sion has not taken place on that possant crap and more exacting scale.

climatic The In to sail and

needs than other crops. Where con- Officials now say that spend- ditions were suitable, however, ing will fall at least 34 bl- cultivation was being encourag-Iion, and possibly more than cd, primarily to meet local four billion, below Mr Truman's

$70,000,000,000 needs.

spending esti-. mate.

TAXES UP

Whatever It's offect on Western defences, this fall will much more than compensate for a declino" In "tak ̈ ̈revenues below the expected total.

of

"Development of a suitable hybrid maize would increase Times added production but apart from that that the search for new sources any large expansion, could only of raw materials should not be be at the expense of other crops," inhibited. There were several he said. outstanding materials to which attention could and should be | directed straight away.

One group of raw materials on which dollar expenditure had bean greatly increased recently was the group of non-furkows metals.

COULD DE EXPANDED

"What are the resources of the Commonwealth?” asked the Financial Times. And it went in Northern on to list copper Rhodesia, lead and zinc in Aus- tralia, tin in Malaya.

"In each of these countries production could be expanded with the necessary Investment though often the Investment Experis said the rise was Im-needed is Indirect rather than pressive in view of the generally direct-on coal in the Rhodesias, favourable tenor of crop news transport facilition in Australia, plus a pause in demand for tex- and on stability followed by tiles and a growing coterle of prospecting in Malaya. observers who felt that the mar. "Besides this, however, there ket is entitled to a technical set- | are dend and zine in Nigeria, back.

bauxite to

turned be

into the Gold Coast, aluminium on and more bauxite In Jamaica: and Malaya as well.

The leading spot interest was a more active seller on the ad- vance. They were credited with putting about 13,000 bales into the ring, including 8,000 bales in July, 10,000 In October and around 3,000 bales in Decem- ber position.

market

The crop new; was regardoi

Textilo favourably. activity slackened,

The market opened up 1 to 12 points. It edged up to gains of 13 to 24 points at the forenoon. It dipped up to 20 points from the highs in the mid-afternoon, then rallied again on covering by day

"Production in all these places could be expanded ar hastened the necessary equipment werd the Financial made available," Times 'sald.

MINISTER'S STATEMENT "Expenditure within Colonial]

must be development plans related to the long-term needs of cach territory but the Governe ment continues to emphasise to all Colonial Governments the im portance of devoting particular attention to economic develop

at the present time," ment at

-Minister

HONGKONG

SHARE

* MARKET

Taxes are up-but they may fall some 1% billion dollars short of the $32,700,000,000 Mr Truman budgeted.

On the spending side, slower- than-expected military deliveries are likely to continue and to keep outlays for the year begin- ning July 1 below the $85,400,- 000,000 level almed at by the President. Congress, may reduce that further by cutting appro-

(From Our Correspondent) priations.

Business on the Stock Ex-

In any case, prospects are change this moming was valued that the Government's defjolt at 3187546.30. Noon quotations for fiscal 1053 will be scaled from Mr and the morning's transactions;--| down 'substantially

Truman's $14,400,000,000 fore- BBANKS BUYERS BELLERA SALEB cost-Associated Press.

A

1375 1380 10 130

EIK Bank

INSURANCES

Union ......70714 GHING.

Axin Nav, ....1521% DOCKS, ETC.

What

N. PS Wharf D95 B.60 Providenti Whestock ... #3}%

LAND, ETC.

HK Hotel

1 Land HK Land (R) 1340 Humphraga, 2015 Uivarres

Star Ferry

43

88

LONDON TIN

MARKET

London, June 10, The tin market was slendy this morning, though turnover 331 was only moderate, totalling 35

ions, of which 10 tons were for cash. Prices closed, at the end

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO: NEW YORK, DOSTON, BALTIMORE ♣ PHILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA.

I

NEXT SAILINGS

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

ARRIVALS FROM U.S.A.

M.B. "JEPPESEN MAERSK” MS. -"HULDA MAERSK”.. MS.

"TREIN MAERSK”

June 21 July 2 July 16

June 30 July 18 Aug.

For Freight and Further Particulars please apply to:--

AGENTS:

JEBSEN & CO.

Pedder Building

Tel: Nos. 36066-9.

Mixed Trend The Rubber

In Grains

- Chicago, June 19. Chicago grains joined the major commodities in a mixed performance with advances out numbering declines and featured in vegetable by the strength pils.

Wheat closed 1% to 1% high- er and soybeans were 2% to 5 higher. Prices of grain futures closed today as follows

Wheat-price per bushel.

Spot

July

September

Dtomber

March (1953)

MAY: 200 o 134% of the official i morning session

as follows:

18 20.10 1005 @ 10

Spot tin, buyer

Spot tih, kelior

Ĉ Light (0) 0.30-8.10 2500

C. Light (N) 630 Mectric.... Telephone. 18.50 INDUSTRIALS

Clement *.... 14.90 14.60

taders to close a no 9 to 16 Mr Harry Hopkonies, in the TONES, ETC.

closed totlay As

points higher,

Pricos follow:--- Spot July Valober

March

4,00 40,00

21.00-87.60

31-12 nominat

300

30.00 nominal

of State 10mmons yesterday.

House of

Dalry

La Crawford Dineures

Ho had been asked by hir Thomas

Lab Retd

Swindon, If "In view of the urgent need for wealth-producing schemes in the COTTONS

from

Colonica" ho would ending!!

the present practice of

under the 10-year development only about as much on plans, 70 nominal economie development as

Press,

social services,

Decem 1053) May July Oclobet December

NEW ORLEANS MARKET

40.90 37.40-37.00 1274 737 bla

350 yen to UsSt

United Press.

JAPANESE BONDS

London, June 10.

110% 10%

180

'05%

δρο July October December Maret (1935)). May July! October

34.80 bid

United Press. -

Copra Quotation Japanese bonds

"A" (48, of 1000)

(4s, of 1010)

(48, of 1007) "D" (5. of 1034) "E" (64%) of 1984)

New York, June 10. Copra was quoted today at $142.50 par short ton, nominal,

·Cocoanut ell was quoted at 974 cents a pound, nominal,-United Consola Press,

on

Bwo

MISCELLAN

Yangtzo

1730

10.70 16.00

7.70

0003

100 1.90

Business done at

| "Threo-months' Un, buyers Three-mantha tin, moller

Busincas done at Seitlament

2.504% 2.333.34 2.30-16

2.414

Markets

Singapore, June 10, Prices of rubber futures closed today to follows: Number 1 rubber, per lb.

July August

September Number 2 rubber, July Number 3 rubber, July Number 4 rubber. July Spot rubber, unbaled No. 1 pale crepe

Blankent crepe

88-92

2876-80

B212-74

10-70

1034+00

60-70

107-113

-United Press.

NEW YORK MARKET • New York, June 19. Prices of rubber futures closca today 10 to 33 points higher with sales totaling 77 contracts.

September

March April

10.70

29.20 nominal

Pia,40 +

October

Cora

November

Spot

1.8334

December

July

2.0196-4

January (153)

20.00 nominai.

DOD-003 156 00034 167-065 Deat

September December

1.8215-19

Tabruary

March (1953) May

2.2012 BAL

May

Juna

Пу

!1 July

July September

12.4336

August September

United' Press.

New York Sugar

Futures

New York, June 10, World sugar futures clored today 2 to 6 higher with sales totalling 039 contracts..

Contract No. d'vlored 3 higher to 2 lower with sales totalling

304 controls. :- asked what Exchange Rates

Mr. Reid also asked

wealth-producing schemes had

stonesa was done in the local

market unmetal exchang

been sanctioned in the Colonics as a result of the work of the Colonial Primary Products Comingning at the following ralen

this

dollar (per $33. mittee, apart from those usider stelling note (per: 21. taken by the Colonial Develop nonsiders (per 100) 3.14 ment and Oversean Foodiam dicata per 109)

Corporations.

Bingapura (Biralls): VIC plastres (per 199)

Contract. No. 4 (world), July Septembe November Spot

4M pared 2433–4,24. 420 bid

· 2300 ·

November

11.20

Press

Oats July

September

New York flouemper 300 lb. Back. $12.00 Nominal.-United 'Premt,

Weekly Bank Statement

London, June 10. The Bank of England state- ment for the Week ending June 10 reads as follows-

Notes in circulation £161,093,000 Buhle doposia DN2010

Government Other, securities

Receipt Bank ratio

20.20

Jnited Prozs.

LONDON MARKET

London, June 19, Prices of rubber rútures closed today as follows:-

| Number 1:rubber, per· 1b,

in peace July

Augu

September

July/September October/December January/March

United Press.

Seeds And Oils

New York, Juno 10. Prices in the seeds and olla market clooni unchanged with To the following exception *al £77,000 **** Flax Bend, pèr bushel; T.O.D; 20.717490 Minneapolis $4.00: Unid

DA

Press, United Press,

securities: