1952-07-14 — Page 2

Int 19 Bingapore, Djakatia,

"Furáðála" & "Machalar ' Japan DJakarta, Tilrebon,

Gurabala & Macazeny singapore.. Djakart

Furatata a staroster Japan: (via Manija).

ESMATADE,

Singapore, Maurillas, A.; Africa) di

8. America

Singapore, Penang, "Belawan Pall

Mombasa, Tangs, Zanzibar, 11- 98§ulsam,

American

Djakarta. lirebon. Semarang,

Burabatz 1. Macassar

Singapore, Djakarta, Semarang,

'Strąbkią & Macassar

singapore, Poming a Delawan Dati

July

27

Au

ABE.. 5

“TJITJALENGKA“

Aug.

"STRAAT PANKA” ADE.

"TJIADANEY * Aug.

*TZDODAS

Abp. 12

Aug. 16

"VAN BHUTI2" "STRAAT.

Aug. 21

Sept. dopt.

Japan

1

Singapore,

Sipt.

1

Djakarta,

Sept.

Manila

Bept. 1

Sept. 23

Oct.

1

2

дей, •

12 Oct,

Oct. 11

Djakarta,

MAKASSAR"

"TJIWANOP

United Kingdom exports to the outer Sterling Area dropped sharply. "TIPONDOK" in April and again in May, though imports from the Area continued to rise slightly.

A breakdown of U.K. trade during the period from January to May, however, shows a welcome increase in our exports to non-Sterling countries.

nound bf import cuts will not bo among these measures,

Mr Butler, speaking in the television programme Inet work- end, ppposed this means of balancing our trado with Western Europe. Any further import cuts, he said, might bring retaliation and that is some- thing to be avoided at all costs.

BROADER QUESTION On the broader question of ot polley-that economie: rebuilding the Sterling Area's Chancellor reserves the gold said "We've got to get an under- standing with the dollar. I want Sterling to make friends with the dollar and have an under- standing on trade.

"By that. I mean we expect the Americans to do something

Total UK exports to the. But it now seems that another Sterling Area fell in May to 102 mlillon compared with £113 million in April and a monthly average of £190 million during the first quarter of the year,

The May Agure was lower than the

average for 1051 although the average for the first five months of this year was 10 per cent higher than the monthly made in 1931, Talpel, July 18.

Exports of textiles in May Nationalist shipping circles were over £10 milion less than are reported to be apprehensive the 1051 rate and exports of of prospective Japanese com-metals and engineering pro- petlilon as the Japanese Govern-1 ducts, though sull higher than ment has authorised 24 shipping the average for 1051, fell below companies to open Formosa the high level of the drst quar- Japan routes after a navigation ter of this year. pact is signed.

Imports from the rest of the Sterling

however, were Art, The proposed navigation pact two per cent greater in the first between Japan and Formosa į five months of this year than in has been planned to ba con- the corresponding period of last cluded as moon as the Sino-

and four year

per cent greater Japanese peace-treaty becomes than the average of 1951, effective,

Imports of food, drink and tobacco in January to May Indal negotiations have been increased by 14 per cent com reported under, way In Tokyo.

pared with the corresponding of 1951, white imports The official Central Daily period. News reported that Nationalist of raw materials fell by six per and imports of manu-

But he stressed that shipping experts are worrica cant

any since Japan has again emerged factures increased slightly,

large-scale wage increases auch as one of the leading maritime

THE TRADE GAP

as a number of British trade countries in the world, with

The United Kingdom's trade unions are now demanding - more than 2,230,000 tons in her gap-the

excorts of imports would inevitably raise the price merchant marina fleet, while CIF.) over exports and make our task much

of our exports and this would Nationalist vessels are in no exports (F.O.B.) during this position to compete

difficult. with the period was at the rate of 278 fast and modern Japanese ships, million a month, 223 million

The newspaper, however, said that shipping clicies Here are now trying to seck the lease of some 200,000 tons of American thips through American

Demand For Jap Steel

BIG, INQUIRIES RECEIVED

Tokyo, July 13. Inquiries for senil- finished and finished steel

about buying our materials products aro being received wool trom Australia, rubber by a Japanese steel company and tin from Malaya, and from India, Pakistan, and forth. Then we know we have Italy, according to the Jiji

Press today.

a certain market,

"I want the United States to

lower its tariff barriers and lot.

The. Italian Inquiries included us into their market. It we one for 34,000 tons of steel ingots have

that, then we pay our and 20,000 tons of bloom, while way."

both India and Pakistan request- ed more than 100,000 tons of transactions in a single inquiry,

more

STOCK EXCHANGE Several factors dontributed a month loss than in 1951.

Sixteen million pounds of towards the continued recovery this improvement was secounted in for by our trade with the non-equities ald Sterling area and

The

Officials of the company,

the

Full Steel Company, sald, how- ever, that such brisk Inquiries were not to be attributed to the current steel strike in the United States. They said that these countries were seeking semi- Anished products instead of

finished articles)?: market for industrial Hopes of increased

They surmised in this" con- £7 million coal output, the high level of nection that these nations were Arca

that turning to Japan for these pro-

ergang to augment the Nationalist } with the Sterlingrovement in the worst of the textile depres ducts because it had becomia

merchant marine fleet,

Nationalist shipping circles

are feverishly trying to

Despito

area there was

compared

a

Belgium, which had been the principal supplier previously.

steel production card signa our trading position vis-a-vis the art improvement in

sion ta

is over-all helped towards difficult to import them from

11 market Gilt-edged prices responded to small investment support and, Australian

Conversion Loan, the slowed firm,

tities, wore

Liberty ahipe from the United the

with

Being period of last despite the appearance of the

States in order to compote with year

of

£8 million in Dur

the modem and huge Japanese balance with the dollar area. merchant marina as soon

36 3 This was offset, however,

an improvement

navigation pact's concluded bo

by mulon of

The officials pointed out, how- ever, that the prices quoted by the importers continued to bo instance, a mixed low, with Italy, for

easier.

stiares

INDUSTRIAL SHARES

London, July 13. Industrial shares

wate

"BOISSEVAIN”

"TIILUWAN"

*TJRAMPER" "TEGELBERG" “TJIWANGI

"STRAAT

"TSIUODAR

“TJILUWAR*

МАКАЗЛАДН

"TJLUWAIT"

**TIIRANGI"

-"VAN BEUT3Z" ·

#TUKAMPEK"

"DONISEVAIN"

Djakarta,

Surabaía & Miadkenar

Thebon,

Barabala a Macassar

Semarang,

Semarang.

Bingapart, Mauritius,

8.^aztiga" 4. #. America

Singapore, Djakarta, ... KOMAPANG,

Butabaja & Macassar

Djakarta. Tfirebon,

suzabala & MACRISKT

Japan

MIgAPUTO, Djakarta,

Buyabala & Macassar

Semarang,

Reparing,

Mani, Bingapore, blauritius

8. Africa & §. Ameriça

Tirabon,

1. Bemarang Hurabala & Macassar

Kingsport, Djakarta. Bemarang.

Burabala & Mincassar

ARRIVALS

La Port

July

黪

བས་

From

MACAUSAS, Sorabuta, Semarang.

bjakarta & Singapore

bjakarta, Semarang. BRIabata

· Macassar

E. Africa, Mauritius & Singapore. Japan

6. Amurica, . Attica, Mauritius,

Aingapore & Manila

MAERSK

LINE

FAST FORTNIGHT LY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHĨA via 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 19

July 20

Aug. 16

In Port

Aug. G

Aug. 11

..

For Freight and Further Particulars please apply to:--

AGENTS:

JEBSEN & CO.

Pedder Building.

the

twean China and Japan.

The Central Dally. Nows re-in respect of O.EE.C. (Western market with interest centred offering an import price of $95, maninly on oll shares. Tens C.I.F. Italy, per ton for steel ported that during the negotia-Eupean)-countries and of £16 showed SOT.C

in respect

Improvement. ingots, or $05 on an F.O.B. million tions

Tokyo It was learned maining non-Sterling countries. in

of the re- Rubbers ware mostly idle and Japan basis, compared with the the Japanese shipping interests

little Japonese cost of around $94 per want to organize Chinese and showed a sight increase in May

Exports to the dollar artapper

ton. Japanese shipping firms into a

Gvar the

for the Joint monopoly-Reuter

first

attribut United Press,

able

shipments of

Imports showed a further slight incrcaso, mainly - of Iron and steel and machinery.

Easiness In Cotton Futures

*

Kind

They believed that were the world's irons and steel market.

was actually in a clump, in

up

motor cars and whinky-while) subject of much excited dis- spite of the increase

cussion. Prices moved moderately and than moved A bit higher again and held.

Exports to

La fa-

quiries, and that the net result was that both sellers and over- as consumers were sounding France-Presse. out prices against

one another.

Grain Prices

and Ford In

It did not matter what British Goverment Issues were doing, SLIGHTLY MORE

O.E.E.C. coun- whether rising or falling in trias in May were slightly more short, industrials wora back than in the first quarter larger where they stood in the middle expority of iron and stech, of May, before the sensational machinery and vehicles being slump in Government, stocks on partly counter- balanced

by May ** actual gains were · not)

21 and 22. lower exporis of texts while imports,

though slightly sensational, mostly a shilling on

Vickers Now York, July 12.

greater than in April, remained Dunlops, Cotton futures closed the well below the level of the Motors, 1/0d, for Courtaulds, and week on a noto of epsiness first quarter.

2/- for Rolls-Royce. after backing and Aling For the non-Sterling area es a

Among gili-edgod, Old Con- moderato whode, the nervously over

value and volume of sols gained A half to £50% pad price range.

exports of metals and engineer. War Loan 8/10 to £73.0/10. AL Friday's close the listing products in the first ve

Nationalentin

stocks

like ruled 10 points higher on July months of this year maintained

gainst as and 10 to 33 points lower on

a high rate of expansion from other positiona Tho point the level of 1851.

to D equivalent changes are rise of 60 cents a bale to a do- cline of $1.05

bale. D

interest The chlet trading during the period was contred July delivery where will cease on Tuesday. month on Friday rose to Spot 40.42 cents a pound, the highest lovel in almost three weeks, as in shorts attempted to cover face of a light contract, supply situation.

10 @ 1300

in do Appt

233 76236 30 7 7421%

4.20

Unions....... Underwriters HK Fire .... 130 DOCKS, C. H. Whert N. Pt. Wharf 5,00 Frovient

...33% 12 Wheelock, eas LAND, ETC.

HK Hotel.... 0.70 0.00* diac Land

Hit Land (B)

S'hai Lord

Humphrey,

UTILITIES

Tram

1.30

270064272

200 m 45

..................... 23.00 19.10 5050 e 10.00

1800 @ 10

Star Ferry

C. Light (0) 8.00 1.70 (300 @ 0.63

Traders felt that until July position in out of the way, crop nows and other trade develop ments would be lost sight of temporarily.

This

On n the other band there was little change in imports of food drink and tobacco from this area „while the big' decrensa în im- ponte of raw materials was partly offact by increated im- ports of iron and steel.

improvement in our trading position vis-a-vis the non-Sterling world, welcome though it Is, has not yet gone far enough to justify the hops that our overseas payments will be in balance by the end of the year.

ed that the measures taken to It had been generally expect

reflected in a marked improve-

British

much us 15 or

Oils were rather out of the picture. Royal Dutch closed the week at €33, down % from

ast week's close

Chicago

Chicago, Juy 39. Grain prices held to the lows and closed the week on a lower long.

Rye acted independently and all deliveries were fractionally ahead of the previous close,

Wheat and corn held to about cent loesta for all contracts. Amonk foreign bonds there At the closes, wheat ruled 1% was heavy bidding for Young centa

so 4 bushel later Loa, which rose £8 to £724, higher Carn was 18 higher to

per cent rose 34% lower. while potosh to 80, and 6 per cent rose a

TD.

Oats were unchanged to to

Japanese were strong on the tower, Ryo was upchanged to coming debt talks in New York. higher and soybeans were

20, lower to 19% higher, Tokyo Electrics mined 1007's were up £5 to £12514 South Manchurians

up 29 t 201 and 1080's up £2 to £130.

terthe

achieve this balance would be Tobacco Output Government report on in, cultivation on Julyment in the trade Agures by the acreage had only a temporary market

middle of the year.. Influerre.

area of 20,- 081,000

between Borca WOR €00,000 and 700,000 acres under 17.00 17.00 1400 19 17.93 expectations, or seven per cent under the Government's goal for 1952. United Press,

Light (N) 5.70 5.00

22.20

Xectric

Telephone

Cerent

**BAK® cutters and industrial usere continued to limit pur- chases to Immediate needs.

Wool fabrics buyers showed INDUSTRIALIS

.... 10.40 10.00 murkod caution despite the advance in nearby wool lon STORES, ETC. futures to the highest level sluce early February,

Bayon grey goils prices held

Brokors expected

a

broadening demand for finished

woods-from cutters shortly United Fress.

Daity ......10.30

Watson

36.00 Crawford 1 Lane Crawford KELLY

0,45 Stars Co.

1,00 2.00-8.43

-Sugar Distribution

Washington, Julÿ '13.-

CONTONE

Ewo

8.70 0.05

3.70

12.10

10,00 10.00

Rubber Futures

In S'pore

STILL TOO LARGE

Prices closed today dallaws:c

Wheat-price per bushel Spot. July September December

2.40% 3.4014

Tel. Nos. 80066-9.

Fund

Monetary Hints At Grants

Of Dollar Aid

Washington, July 13.

The Executive Board of the International Monetary Fund held out prospects of financial help to member nations willing to risk losses through the elimination of existing exchange restrictions.

In its third annual report on restrictions, the Board and that member nations which took steps to modify or drop restrictions and thus stimulate freor world trade. could reasonably expect access to the Monetary Fund's resources,

of

situation,

international factors creating the restrictions, prospects

The report added that pro- meats cedures adopted by the Board roserves, would provide for consultations with such members on technical and effects of the removal of assistance and the use of funds restrictions and means of ochlov- to help them to overcome the ing euth removal, including 'causes for the retention of ex- Fund assistanco.Reuter. change restrictions NA

It noted that the ability of

a country to relax, restricta Dullness On

an objective of the Fund-flen depended on measures taken by other countries as well as many difficult and complex factors operating in the country.com- corned,

Wall St.

New York, July 13,

Last year, the report sild, A fooble rally on the stock there was considerable relaxa market greeted the nomination fun in the use of restrictions of Gen. Dwight Eisenhower for by member nations but at the the Presidency on the Republican 1.069%

frid of 1951 and In the early ticket. The rally carne late in months of 1952, there was an the Friday session. 1.00-15 3*(-1.73 Intensification by a number of countries, including, soma with important international · firan- cial positions.

March May Corn Spot But the figures for June show

Washington, July 12,

July that the visible trade, gap le sull An Agriculture Department September tar too large.

report said that the declining December Total

Pakistan's the trend in

tobacco March

May month, which had 18 per cent | outgut may, soon be reversed".

Byo In a report on the tabacon July fewer working days than the

Southem and september

In Pakistan

2.101

exports during

previous month, worn down by suation 10 per cent to 163 million Southeastern Aaix, the Office of t

while imports decified by 14 Foreign Agricultural Relations But per eent from the May level to inco

pid the production of the lent September R277 million, go

-1947 whan Pakistan: This means that the trader gap achieved Independence, averaged remained roughly the same es lo about 180,000,000 pounds per Singapore, July 12,

Pakistan 204 your. While the Prices of rubber futures closed month at about varmant pots the figure a today as follows

situation, therefore, is less than half the

· Number 4 Tube); ver

still very erillosis, it is doubinit trade, sources believe that the Business was done in the local Augu

whether the United Kingdom's decline in

had Geplember Revie unomclaiz maczango. – market – this | võetaber finger

balence of payments can new bo been in prono

Exchange Rates

we Agriculture, Department i sugar | merahy Get the following, Fatquim 1: Number S statistics for the first five months sydöllat * (par, $135 if this year reysalad in Blighttering hot (DEL) *33 Indonesia sullders (per, drop in distribution aghinst the gram tesis (per 100) "Andrresponding period of 1001 Bunapora (atratto))

million:

#734-9814

Kaye Number, ründ

Wool (juliber, 31.09mnkút, grepe

107-1135

Turkish Oil Find

London July 10, The Turkian Mineralogical Predich

Exploration measure for mladowed changes in the methods

by the drop. It..

af of large deposita golf in the the Chancellor of

"of || Bismil and Silvan regions of choquer. In his recent statement obtaining official" data-United castern Turkey, according to the

Pres. on the gold-perusvnen

Ankara HadidieReuter,

Wallo Wall Street watched and walled-on-the Republican ›con- vention result, the markot turned

and easier.

The most severe selling come The report predicted greater when Chrysler announced that it progress towards the elimination will close down most of its car of obstacles to free sintanky plants on Monday,

“Iron Age", sald, the nation's payments and transfory through

steadily being new.consntations with members Industry

strangled by the lack of steel. which began Just March..

The National Production Ad- The Board saft those com, ministration warned that two- mitations with 24 of the Fund's thirds of the berishable.

vegetables 51. membera were expected ld and fruit would be lost, because lay the basis for closer intetis of the lack of steel for cans.

tho tioil collaboreign in the industry is feeling

field and Teduca

affects of the steel strika, RT Industrials this week worn at widespread abuse, of restrictive 87422, on -0.73, Railroad, at A POC 101.15, off, 0,40, utilililo) at 49.54, radices,⠀⠀

Bach consultations could in= |off, 0.10, 'and 67 stocks at 100,874 clude members” balance of pay Ubi (3) United