1952-07-09 — Page 9

Page

THE CHINA MAIL, WEDNESDAY, JULY 9-1952.

MESSAGERIES 17 MARITIMES WEST GERMAN PROBLEM

Effect Of Rearmament On The Economy

M

"MEKONG"

Arriving

11

"GRENOBLE” ............................Aug. 21

*"LA MARSEILLAISE” «July 11 +"DIR HAKELIM” ........................ *2uly 30 +MEKONG"

Leaving

July

M

Outward For

Тара

Aug. 26. Eurype

July 12 July 31 + Aug. 20

Koznematā fot

Marsailles vis saigon 16. Afrios & Kurove N, Africa & Estops

For Passenger and Freight.

Genoa, freight for Saigon, Alexandria, Tunis,....... Marseilles, Algiers, Cran, 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

Ta. 26651 (8 lines).

LINES

EVERETT ORIENT LINE

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

"BRADEVERETT"

In Port Londing

Sails July 10 for Japan.

"LENEVERETT”

Arrives July 25 from Manila. Sails

July 26

Port

for Singapore, Swettenham, Penang, Calcutta. Rangoon

&

EVERETT STAR LINE

Fast cargo and refrigeration spaces available for Korca, Japan, China, Philippines, Indo- China, Blam, Malaya, Ceylon, West Count Indian and Pergian Gulf Ports,

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "NORDSTJERNAN“

Loading July 21 Sails

July 22 for Kobe & Yokohama.

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

FOREIGN EXCHANGES

IN NY.

Canada England-official

Belluri

Denmark

France...

New York, July 1. US$1.03-7/10

2.70%

The Rubber

Markets

London, July 8. Prices of rubber futures closed today as follows: Number 1

rubber. in

April/Juno

2015-31 20%-95 20-20-1

2312-74

2412-44

2317-20

United Press.

SINGAPORE MARKET

Singapore, July 9. Pricca of rubber futures closed today as follows:- Number 1 rubber per ib.

August

2731-88

Dollar Reserve

In PI At A Dangerous Low

Bianlia, July 8,

The Central Bank Glover- nor, Miguel Cuaderno, as- nured

there

Philippines

Com today that

shortares

bo

DO

essential foods and commodities althoug he has been forced to cut foreign exchange allocations by $30,000,000 for the last half of the year.

Mr Cuaderno WAS EDDS- mazed before the House Commerce and Industry Commiller to bear protesis by Constermem over the sharp slash in dollars allocated for purobasre abroad. Mr Cuaderno tola the Congressmen that the alash could not be avoided

dollar reserves reached the dangerous low of $204,000,000 compared with $358,000,000 m aro-Associated Press.

Japanese Interested In Malaya Investment

Bonn Government Faced With New Situation

London..

In recent weeks people in Western Germany have begun to realise that the military, as well as the political, situation has changed for them in that they have now to rely more upon themselves for defence, and the sinews of defence, against any aggression from the East.

The agreements concluded at Bonn granting freedom from restric tion from the military allied occupation have quickly shown that this free- dom is going to create obligations which, hitherto, have been known but kept well in the background.

BAILING B

To

Manila. Kingapera,

"TSTJALENGKA"

"THPANAS“ "TJILUWAN

July July

Juty

Jule

Aug. 會

Afg.

VAN BIRUTAZ“ ТЛКАМРЕК" **TJIWANGT

*BOISEVAIN" *EASTWAY"

"THTJALENGKA" Atur, *

"THADANE” "TJIBODAS”.

"JELDWARS

“VAN HEÚTSZ "STRAAT

MAKASSAR”

Aug.

Aug. 19.

Ans. 10

Aug. 21

Babt. Supt.

Sept. 7

П Sept.

Bipt, 19 Bept. 25

Oct. 2

Oct, *

МАКЛОВАП"

"THWANG

"TJIPONDOK"

"DOISSEVAIN"

TIILUWAR

**TIIKAMPER"

"THWANGT

"ITRAAT

To these military and political uncertainties must now be added the economic position, says the Liverpool Journal of Commerce.

Minister The Nigerian

of between the March and the Commerce and Industries, Mr || April_totals. The department

was in A. C. Nwapa, has been telling observes that the drop the "men of Lancashiro" some pay received by workers of home truths about their methods large manufacturing concerns "TJITJALENGKA" of business and general attitude "reflecting reductions in hourS the European Payments Union towards that trading community worked

30 million inhabitants in from of (E.F.U.).

West Africa. At a Press, con- deutsche-ence in

1050 West - Germany Sinica has made great progress in for con- export trade, and, sequence, has been approximate ing to viability, becoming, in fact, a considerable creditor

1

in

and losses resulting | “RY#" labour-management dls. "TJPANAR”

mark is today one of the "hard" | Moo in Manchester be, when the first

The West German est" of the hard currencies,

Lock of the need to herself contributed

CTE

be so.

we

more

To

"We cannot accept the argument

Ambassador to the that, because the standard of United States, Mr Eikichi Araki, more than living in this country is higher arrived in Washington, he made then elsewhere, giving rise to an appeal for more foreign trado of a little to this happy state

higher labour costs, the Nigerian with Japan and her business leaders, her

industri- affairs,

now manufacturers and her export consumer must perforce payalisation for her. The bloker prices for goods have frankly admitted this higher

Japan," he said, "is faced with to be

quality. comparable

grievous many

problems. do We are' her bankers have tenable position of agreeing to

left in the

relve, our people must labour Even her

hard. They ask hesitated to be candid about the

for the the subsidise United Kingdom in- tolerance of othe ndvantages West Germany

They ask haddustry at the expense of the for

to access had in international trade, just standard of

the mw

nw materials living of the they need, to the markets that consumer. We

would let in their goods. They wek the ask privilege of buying and there essential mate-

they

ask for the sell what they manufac-

o

na now they do not hesitate to NB prepared to do that"

paint the future prospect in any- ining but rostató huca

IMPORT CUTS Import cuts by Britain and France have hit Germany hard.

مد

sho

not

aro

Nigeria is a producer of raw paying for.. commodities and agricultural rials. produce, and the prices of right these basic commodities not bo dopressed to a level to

musl ture," Mr Araki ended his speech with "Never in the relations between history of the our two countries (Japan and the United States) hás there existed such a broad Identity of interests as now.”

manke the articles processed this country, swollen by high labour costa unrelated to volume. compeutively production, saleable in Nigeria. To do so, to lower the standard of living as Mr Nwapa states, would be

of a.community in order to prop a system amugly relying upon the spalinued benefits of a disappeared, for sellers' market, now temporarily

its main

Singapore, July 8, Japan wants to invest Germany also has shared in the capital in iron and bauxite world textiles slump just mines and in rubber estates Britain has suffered, and in Malaya, Mr Tetsuya may yet have to enforce import cuts to preserve her balance of Inoue, the first Japanese payments, Hitherto every weapon businessman to visit Singa- he was prohibited from forging pore since the war's end, for herself, every ship she was said today. He is repre-debarred from building, provid- sienting Tozei Kocki Kaisha ed so much more raw materini of Japan on a fortnight's disadvantage of the North Atla

for exports to the competitive

business survey.

tic Treaty nations committed to Mr Inoue said Japan is pre-heavy rearmament programmes. Chancellor Adenauer and Herr pared to make a capital invest-

of Economic ment in Malaya of £130,000,000. Erhardt, Minister

West "We want all the iron we can | Affairs, have expressed get. We want to export Germany's readiness to take her machinery to open mines which place in the rearmament race, are not working and in the areas but a considerable period; must affectod by the

emergency claps before any worth-while (Communist guerilia infested retooling can be undertaken. It areas) and we are prepared to is not unlikely that West Ger- provide Otur own security

imany will enjoy a somewhat M

tenance.

The root of the trouble in our manufacturing industry would appear to be a lack of first- hand

knowledge of conditions and mentalities overseas; our business loadery have been too prone to perpetuate the 005y. conditions of six years of WIT and of six years of an unstable pesco.

Nwbja's challenge to

and for the taste of the Nigerian consumer? (b) can it supply the volume required? and (c) can it get down to competitive world prices now and in the future? To Nigeria can be add- ed many of the so-called back- ward nations, running to over

million thousand

HONGKONG

SHARE -MARKET

(From Our Correspondent)

There was

sharp increase the Stock Ex- in activity on change this morning, with and Cements Ficciries, Trams during the morning was $525,- 304.10. Noon quotatjana.ad) the moming's Transactions;— SOARES BUYERS SELLERC BALES BANKS

"TJILUWAI"

"TJIWANGI

"VAN. HEUTSZ”

Pare

•*-8, Africa à 8. America

Japan Crin Nassilm)

P.1. Port, Singapore, E. & 8. Africa Újakarta, Semating,

Susabala 6 Machavas

Japan Diskarta, Kiirebon,

'Sumabala & Macassar Singapore.. Djakarta,

, kurabala, si Macassar JAIATE

Kentorang

slayapgre, Penarik & Belawan Deli - Madlin, 2. Mingapore,` Mauritius

5. Anica # 1. 'America

Japan

Djakarta. Tilrebon, Semarang,

Surabals & Macassar

DİNLEADOT

Diskarta, Berstang.

Surabaja & Matar

Kingapore, Penang & Belawan Dell

Japan

Singapore, Dinkarta,

durabals & Macagyar 29JAMAYLA, Tgrevan,

Sarabala & Mucasiar-

Manila,

Bemarang,

Bematang.

Bingapore, Afauritius,

Semarang,

$. Africa 6. America Bingapore, Djakarta,

Burabnia & Macassar Djakarta.

Tilreban, Gomerang,

Brabela & MACRSOC- Bingaw Djakarta, Semaraus,

Brabela incassar

Manila, Singapore, Mauritius,

B. Atries & 8. America

-ABEITALS

In Port

In Vore

July July

July 27

July

'B

From

Auserien, E, Buritium & Singapore

JAPAL

Уарад

MACARKET,

Africa,

1

Bemarang,

&

Butabala, Diskaria & Singapare Djakarta, Semarang, Surabala

Macassar

E. Airiça, Mauritius & Singapore

MAERSK LINE

FAST FORTNIGHT LY SERVICE TO:

'NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vla SAN FRANCISCO, LOS ANGELES AND PANAMA.. NEXT SAILINGS

M.S. "OLGA MAERSK” M.S.

"JEPPESEN MAERSK“

· M.S. “HULDA “MAERSK"

ARRIVALS FROM U.S.A.

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

July 18

July 80

Aug. 16

July 17 Aug. 5 Aug. 9

He added that Japan could free run of the world's markets | Lancashire was (a) can t cater all. in demand Total turnover For Freight and Further Particulare please apply to:-

guard," Mr Inoue mid. not invest any capital unless the Government lifts its ban on Japanese entering Malaya-As Eociated Prest,

де

He added were

to

keen

in manufactured metals machinery until next spring, and her by way of encouragement, her exporters are being given "im- port. rights" for 40 per cent of their dollar exports; her exports and her services have enabled Ther lo resume investment in South America, Spain, Turkey. Australia and Canado, other countries.

a

still,

מתסומת.

one

in

* Bank East Asa INSURANCES

Cauton

Union

Underwriters

HH Fire

.. 1300 1390

**

740 760

$9.40 130

N. PL. Whart 8.30 503

エアーム

Dock

Provident

AGENTS:

JEBSEN & CO.

177 Pedder Building.

* 700 411

• Wheelock ... 41%

130041 LAND, ETC.

0.30 6.40 3000 g dan HK Hotel.. UK Lond 40%

HK Land (B) I spinning

KEEN COMPETITION

Singapore, July 8. There would be very business competition in Malaya

population.

PRIVATE ENTERPRISE if Japanese traders were allow

One satisfactory_step_towards ed here, Mr Lim Eng Sion,

it would be heartening saidi

the reduction of cost of our Singapore businessman,

gesture if Mr R. A. Butler, yesterday

cotton goods exports has boon the Chancellor of the Exchequer, Mr Lim returned

of the break-away several to announce that our

Lancashire coiton Colony last week after a three-were

exporters were

granted import firms from the State-sponsored months trip to Japan.

invest- better

Raw that the Japanese an

Cotton Commission. very keen to recover their ment rights for a modest 10 per Several of these companies now are giving private Importers pre-war trade with countries in cent of their dollar exports.

the chance to bring them com- southeast Asia and would take Mineral ores and oil are but two

their case through diplomatic of the commodities which are peuitive raw cotton; evon sew- up

to going

Iable ing thread companies intend to incalculable Ing channels.

create

buy their

supplies through Twenty-six textile factories wealth for Canada, and, as the

Common- private import will be

services. Not in Osaka alone have closed be cornerstone of the

it -only too much

L cause there were poor overseas wealth of Nations,

perienced by such private Im products right that Britain should be able markets for their owing to trade embargoes and to have a modest investment in porters in their trading with the said that development. Indeed, such non-dollar areas. To give them restrictions, Mr. Lira

with investmenta along

the dollars, bomever, Mr Butler Reuter.

invisible carnings

of insurance vary

could give our unefully and shipping and the factual motor-cor

exporters that 10 export of coal made this coun per cent "import rights"

# three-comered trade with the private

catton im wenthet porters. In other word try at one time so wealthy that allow

the motor car men would sell such nancing, to a very great extent, of two world wars.

rights to the cotton importing men,

wo were able to

pence per lb.

August

September

unofficial ... 30-day futures

2.57 ld/

October/December

200 asked January/March

2.7816

BD-day futures

2.763%

Australia

2.2311

New Zealand

2.7034

South Afri

2.7022

.01001

.1459

Doza-9/16

West Germany,

420

Helland

$39

Beptember

Italy

October

,1403

Number 2 rubber,

.0070

August

Sprin

.0303

Number

rubber,

Sweden

0035

August

Switzerland

| Number 4 rubber,

MIDDLE KAST

Augurt

Exypt

2.00

Spot rubber, unboled

Iraa

mist

Blanket crepa

Iraq

2.70

No. 1 pale crepo

8376

LATIN AMERICA

Argentina

0840

Drizl

Bolivia

bing copper and

Norway.

Portugal

10 Turkey

Ch'o

Columbia

Cuba

Maxico

Peru

Uruguay

Venezuela

FAR EAST

J:11 Fakistan

+0.

Indonesia

Ердорого

Japan

6752-83 0775-9%

03-04)

7914-00 2416-7853 6714-83 68-69 100-113 United Press.

now!

GANADIAN OIL. Only the other day, a share- holder at the annual meeting of the Suez Canal Company, held in Paris, sought to elicit from the chairman, detalls of the in- vestments of the company,

He

.10.00

S'hai Land1 149 Humphreys Really

UTILITIES

Tram

1000 210

4300 6 220

5000 3.10

17.40 17.00 100 @ 17.7

600 # 1780 1000 @ 17:30 1500 £17.00

23

P.

(0) Star Ferry C. Light (0) 035 8.00 2000 à 858

2000

C. Light (N) 5.65 5.70 1000 Erctric IPO 2210

Macao Elec. and

10

****

Telephants., 17.70 17.30 200

1200 INDUSTRIALS

1610.30 600 600 2000 13.90

2000

a cable to the home Govern-he wald, that the company's and portable, sewing machines,

Cement

16.70

Tel. Nos, 86006-9.

M.V. "LA MARSEILLAISE”

Will sail for

MARSEILLES

yla

MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ. & PORT-SAID

on

Saturday, July 12th, 1952 at 10 p.m.

Passengers are requested to board the vessel with their cabin baggage on the 12th July between 5 p.m. and 9 p.m.

Baggage Room and Hold Baggage will be registered at Kowloon Godown No. 50 (No, 2 Gate Canton Road 5000 1019 Entrance) on the 11th July between 2 p.m. and 5 p.m, and

Hope

$75% STORES, ETC.

Dairy

27 AD 17.10. 2000 @ 1740 Watson

23.70 600 2300 Lane Crawford Ch. 835 1000 €35

Yangtze

216

on the 12th July from 9 am. to NOON only.

•

No baggage will be registered after this time.

416.10.1000 € 65 COMPAGNIE DES MESSAGERIES

MARITIMES

INDONESIA PROPOSAL

Tokyo, July 8. Government officials High today discussed the Indonesian 10 per cent proposal for a deduction from the $00,000,000 Indonesia owes Japan in trade.

The current negotiations for a

Italy and Japan are displaying new financial agreement being held in Djakarta were recently reported to have reached

their export wares in New York. Italy's arts, crafts and industries a deadlock because of this pro- to which Indonesia stuck

exhibition covers Items from provolone cheese to Alfa-Romeo COSTOS posal, Bemly.

Ewo sports motor cars. Japan's cx-| The Japanese delegation. In had been under the impression, sports include

bicycles,

standard MISCELLANEOUS oli Canadian ment, asked for official advice vestment

as about do was

two electrical components, tubes and on the issue,

brass of france (£2,000,000). Bureau chiefs of the Ministries

The chalfman, deprecating

shcels and strips, and held

Businers Was done in the local concerned yesterday

unofficial exchange market this ever, binoculars, cotton and grass morning at the following rates:-- enquirer, however, Reliable

rald that that the company had an Invoal-ups, tableware, chinaware, toys, U.B. dolar (per sil

ment in Canadian oli develop dolls, even fishing nets, rods Siertog nets (per £1) the Government will fintly re-

Indonesia gulidaes (per 100) Slam ticala (per 100) jeet the Indonesian proposal menis, but only to the extent of and reels.

cause of. Its adverse effects on about 20 million francs, retrata the dollar-short countries to the Fic planincs (per 100)

The universal ples today of Singapore (troltal Chicago, July 0. other rations in the open acing from giving detalle as lo Grain futures Joined the

count

area but

may advance when, and at what rates of United States is that she should Ilght a

to allow youre of the frane, the invest commodities in major

counter-proposal.

to extend the payment was made, and thus the trading foutured by minor frac Indonesia tional changes. Wheat closed rent term dor settling its trade extent of the financial invest in the dollar-short countries' Dow Jones overigen at the

ment in Canadian dollars. moven to 1911. 9% to 1% higher atat soybeans account-France-Presse, : Malina Pronu

were 1⁄2 to 14 lower. Prices

Again, Ure United States has their standard of living. Such end of the stock market acasion

stood as follows:- hoavy investments in Canadian plças come at an

an awkward closed as follows:-

30 industrials Wheat-prico, per bushel

oil and mineral cres, and is not when many pinnis in America 19

1.00

SOND

LONDON TIN

MARKET

the

Grain Prices meeting but fatted to reach any broadcast of such details, ar- wire, optical goods, cameras and

In Chicago

Spot July September December March

May London, July #..

The un market was idla with

nurnover of only dye tonn.

Prices closed at the end of the september

Telal morning 、ression 68 December

2.20

240-2.40-16

conclusion.

BOUNCES

New York Sugar Futures

sured his

Exchange Rates

Queen's Building,

6.433 15.70 4.00 31.00 1.74

12.05

THE

"POST"

TYPHOON

MAP

unport more and more in order NY Stock Exchango to maintain a more oven balence

New York, July 6,

trade, and, thereby, maintain

247.49

49.71

101.42

08.95

United Press.

of thousands of Kedah, Plantations"

Dividend B

importing the dividends and are closing down through lack of 20 rails other fruits accruing from her steel supplies consequent on the Investments. She is ploughing

ingropont strike in the US, steci 40 bonds

its traini

A them back into more production Industry, bringing in

reduction in

the wage Britain of capital and dividends, New York, July d logs in such investment in earning capacity World sugar futures, Closed Canada,

an exception employese, sebua although an

DECLINE IN INCOMES unchanged with sales totalling to this general statement The US Department of Coin-The Directors of the Shanghai

Hudson be made in

in the Company, whose lands, still left merce, Washington has stated Kedah Pirntations Ltd. Nave 4.20 bid Mo

do it are to be found right in that in April, consumer Incomes decided to pay an Interim Divi 4.10 nominaj

of the all-producing reached a record high level but dend for the year ending 30th, Une heart 4.08 nominaÍ

areas in the profrie provinces, that wages and salary caring September 1981 at the rate of 80 7 nominal But greater investment in that which account for two-thirds of cents per share free of tax, to dollar-currency. Dominion Is the total contumor Income, be payable to Members on re- urgently suggested and needed dropped by over $100,000,000| zard on 30th, July 1002.

five contracts...

Contract No, 4, (world)

* отд

po

July

follows:

Manch

foot tin, buyers

May

Frot tin, relieru a ved

October

Business done at Sigmaan nit

July

Three-months tin, buyers'

woals | Bißtember

Merch

May

July

July

September

Three-months tin, neilere

trendono at

Settlement

Beptember

Javarry 119SI)

304 bid

4.09

4.20

Incorporating, amende to the Loomi manta and Non-Local Storm Bignal Codes,

Mounted $5.00 Unmounted $4,00

Obtainable from SOUTH CHINA MORNING POST HONGKONG and KOWLOON

Tel: 28651.

PETER MOK HIM YICK HONG MACAO

- MANUFACTURERS” REPRESENTATIVE - Agent for AUSTIN CARS

· M.V. LEE HONG

China Mail Distributor

33 RUA V.P. ARCOB

·TEL. 600

Cablos: Peter Macao Agonales invited