1952-07-25 — Page 9

Page

THE CHINA MAIL, 'FRIDAY, JULY 25, 1952.

Page

MESSAGERIES MARITIMES STERLING AREA & JAPAN ROVAL INTEROCEAN LINES

MM

Arriving Leavint

"GRENOBLE”!.. ..Aug. 21 Bept. 1

"FALAISE"

+"MEKONG"

Outward Fet

Europe Europe

Hörükward For

Sept, 16

Sept, zi

1

13 ANE. 14

Aug. x Sept. D

N. Africa & Europe

18

N. Africa & Ehlope

*"FÉLIX ROUSSEL” ...........Aug. 1

...sept. +"COURSEULLES"

Maksoilles via Manila

For passenger and freight. For freight to Salgon, Algiers, Orún, Tangier, Casablanse, Havre, Dunkirk, Antwerp & Rotterdam Accepting cargo:-via Marsollles

to all Mediterránbán &

Ports. West Africa --yja -Djibouti to Madagascar. Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 63, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 26651 (8 lines).

LINES

EVERETT ORIENT LINE

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

"LENEVERETT"

Arrives Sails

July 29 from Manila. July 30 for

"REBEVERETT"

Singapore,

Port

Swettenham, Penang, Rangoon & Calcutta.

Arrives Aug. 5 from Singapore. Sails Aug. 6 for Japan.

(Accepting cargo for transhipment Kobe/Puan and Kobe/Okinawa)

EVERETT STAR LINE

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

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "STAR ALCYONE"

Arrives Aug. 8 from Kakinada.

Sails Aug. 4 for Kobe and Yokohama,

M.S. "THAI”

Arrives Aug. 9 from Philippines.

Sails Aug. 10 for Kobe & Yokohama.

(Accepting cargo for transhipment Kobe/Pusan and Kobe/Ok[ukwa}

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Tolophone 31206. Chinoto Department: Telophona 28293.

More Competition For Britain From Germany & Japan

London, July 24.

The rise in German and Japanese competition is the subject of comment in the Treasury's month- ly Bulletin for Industry.

in

Stressing the need for a large and

increase continuous British exports, it points out that, unless the balance of payments problem is solved, there is no solution to any of the other economic dimeuities.

In 1948, it states, West German and Japanese exports were, by value in U.S. dollars, only 13 per cent of Britain's. In 1951 they were 67 per cent. In that time, their share in exports to the non-Sterling world exports rose from 2 per world, it is pointed out, can lose cent to 0 per cent, while the £50m. a year, while a bed Brish chare fell from 12 per harvest in India might cause a cent to 0 per cent.

loss of similar magnitude

The Bulletin states that ex- porus to other Sterling countries are beginning to be affected by

restrictions. Those their

foll Australia, which

began in April, were by noticeably May little more than one-third of their high first quarter level, and this was more than enough to account for the drop in total U.K. exports in May,

"This 1038 of Sterling markets," declares, "must be

up, by expansion elsewhere,"

INDUSTRY'S TASK. Since the dollar is scarce currency throughout the world, New World, and it is in the particularly in the US, that most of the gold and dollers must be won.

It is not just a matter of exporting an amount which, to gether with net invisible earnings will pay for the present level of imperis or even the higher level we all hope for, states the Bul- letin. "It is a question of earning

Britain To Urge A. Balancing

Price Of Rice

Increases

Talpel, July 14.

A the of is per cent

In the legal price of rice has Affected The local market during the last four days.

The increase is said to have been the result of floods, which have recently devastated the Kaohsiung and Pingtung districts..

In spite of efficial on- surances that no shortage

of

food will result from the floods, rice dealers are, convinced that part of the rice crop has been affected.

France-Presse.

HONGKONG

SHARE MARKET

(From Our Correspondent)

Interest on the Slock Ex-

Of Trade

Payments Agreement Coming Up For Renewal

London, July 24.)

Britain will once again urge a balancing of trade between Japan and the Sterling Area when the Anglo-Japanese payments agreement comes up for renewal at the end of next month.

*TJIKAMPER***. "TWANG1

"RUISSEVAIN" *THTJALENGKA"

"ETRAAT BANKA"

*TJIBADANIY *TJINODARB"

BAILING S

July 21 AUK. 1

Aux.

AUE

8

Aug.

··

Aug. 10

Dikkartaji Kilisbon,"

„Kurabala &, MACERAT Blakapor, "Jakarta,

Gurabais à Mincaniar Japan (wta | Manila)

Gr

Singapore, Mauritius, 8. Atries &

8. America

Singapore, onang, Helawan Bath thom barn, Tanji, Zaştigar, pazi

5. Africa American

Japan

Djakarta. „Tiirebon,

Kuzabalà "25" Sincansar

Buravais à Machstár

Gomerang..

Semarang,!

#ingapore) Porady a dilawan Den' Singapors bjakarta, Beinarang,

Burabila & Machat

Jabah

Djakarta, Tiirebon, Semarang,

Burabala Macariat

Manila,

Singapore

Mauritius

H. Africa à 5. Amerten

AVD.

"TIILUWAGER®.

Aug. 10

&lngapore,

Dakarta,

"VAN DEUTATEM *THIWANDI

"STILAAT

Capt.

41

the

No claim for a revival of the so-called "dollar clause” in the payments arrangements will be ontertained.

old

MAKASSARM "TJITONDOK"

"DOISSKVAIN“

"TJILUWAD”

"TIBADANE" "TJIRAMPER"

Best.

Beps..

Bapt.

9

Sept, 16

sept.. 19

Bept.

"TEGELBERO"

Sapt.

*TJIWANGP

"VAN HEUT§Z"

del

"STRAAT

MAKASSAR“

*TJIBŪDAS

Oct. 12

del." 16

It will insist, moreover, that all trade between Japan and Sterling Area be financed in Sterling.

Providing these two con- | clear that the Japaricae economy ditions are observed, Britain will cannot climb out of it difficulties welcome on expansion of trade on the back of the United between Japan and the Sterling Kingdom by demanding full Area. The balancing of trade at a figure of £200 million a year, mentioned In a report from Tokyo, is not considered travagant,

convertibility for her Sterling holdings."

"In the long run," it declares, can only right her

ex-ion by ending her undue

Meanwhile, Treasury officials believe that the fallure to achieve a balance of trade during the current year rests largely with Japan herself.

of the few Japan is une countries whose Sterling balances hove

increased over the past car; they have risen by about £50 million since last December

the

dependence on the United States. And this means carrying out what

intondod, In was previous agreement. "Trade between

ween the two countries must be in Sterling, and Japan must switch more of her purchases into the Sterling Area. This is the only solution that will be to the advantage of

Service.

change this morning centred although the reduction of these both parties."-London Express

mainly on Hotels and Cements. Total turnover was $333,585.49. Noon, quotations and the morn ing's transactions: SHARES BUYERS SELLERS SALES

-BANKA-

fik Bank

Eust Aria

INSURANCES

Union

1K Fire

10

1400

141

748 250 52 134

748

SHIPPING

Asia Nav

1,55

DOCKS, ETC.

Dock

20

Provident

11.00

S'hal Dock

1.45

200 1.45

Wheelock

Ilongkew

1.00

LAND, ETC.

HK Hotel

42

1.00 200

K Land (0) 0.59 0.00 5000 6

S'hai Land.. 1.35

UTILITIES

'Iram

P. Tram (0)

42.75

10.00 10.10

2. Tram (N) 33 Star Ferry

27

C. Light (0) 8.08 0% C. Light (N)_5.70 5.50

Electric 22 20 22.30 500

Mabao

Eke.

Telephone

INDUSTRIALS

11

holdings intentions of agreement.

was one of the declared the payments

Japan's failure to balance her exports to the Sterling Area with -an-equal_value-of-imports-tram- the arcu is attributed here to four main factors:

PLANS FRUSTRATED

1. Jor expected to be able to impory large quantities n

Australian wheat and barley. These commodities, however, were unavailable.

2. It

It had also hoped to import Egyptian cotton on a large scale, deterred by artifefully 0.30 but was

high prices.

3. Japanese importers have been slow to switch their pur- chases from the dollar orea to the Sterling Area.

4. Japanese banks were, until 22.20 recently, slow in granting credit Importers who were short of

17.40

Cement..... 18.00 17,10 770011

19.30 1000 18.40 18is 16.70 000 z 19.40 500 en 18.00 24.70 24.90

RIPE .. STORES, ETC.

Dalry

Watson

L. Crowford COTTONE

Fww MISCELLA

Yangiste...

Lo

Sterling.

The fourth point is now being remedied, and this is reflected in

the June figures for Japanese Sterling Area trade which show that for the first time for years Japan had

unfavourabld. 2.50 balance.

1.30 1250

6 1.05 1000 @

B

Stock Market Rallies In NY

New York, July 24. Despite modest late Profit- taking, stock exchange prices showed net gains extending to over 2 points with the industrial averages, reaching the highest

level since 1932.

Oils gained to over 3 points. Rails were higher to over 2. Steals strengthened.

Experts think that the buying spurt was attributed to the belief that the White House effort might result in a settlement of the #vel strike.

Of 1,072 lasues traded, 327 advanced, 297 declined and 243 were unchanged, Deblings totalled 1,270,000 shares.United Press,

TIN

an

STAGNATION

But the easing of credit facili tles in Japan was only part of the reason for this. British efforts to increase

MOVE BY

CEYLON

Colossal

Spending By Oil Companies

London, July 24. Could you spend £1,350,- 000,000 in a year? No, you may say and nobody else could either. For that would mean spending at -therale-of-well- Lover. £3,000,000 a day! Yet that is the amount that U.S. oil men have just announced

1952.on operations both at, home and overseas.

FORECAST they expect to spend during

May Ask US To Buy Rubber Output

Colombo, July, 24. The "Ceylon Observer" said today that Ceylon might ask the United States to buy about 100,000 tons of rubber a year at the market price so that ex- ports to Soviet satellites can be stopped,

the entire

This figure represents almost Ceylon output of rubber.

And only a few weeks ago, a leading British oll executive spoke of the likelihood of British and Dutch oil companies spend- ing £500,000,000 within the next few years on expansion development projects of their

own.

How will the oil men

and

invert

these colossal sums? In new oil wells, refineries, pipelines, tank- ers, chemical plants, research stations, exploration projects and extended marketing and distribu- on facilities, among other items. and Expansion of such services and resources becomes increasingly 481 world oil con- how necessary

The "Observer's" Washington correspondent sald in a despatch

that today

Ceylonese United States officials are meeting behind closed doors in sumption soars as it has done, Ifrom approximately detalls already, Washington to discuss

of suggested proposals between 280,000.000 tons in 1938 10 600,- Ceylon

America on Ceylon 900,000 tons in 1931. exports, to rubber,

non-Sterling countries, and the nichrice and tech-

U.S. consumption, for instance, is now 43 per cent greater than Sirit was even in 1040, and our own consumption has risen by 32 per cent since 1948. Nor la there any indication that this global increase in oil consump

decision to restrict imports as a ouver Goonetilleke, is attending

Ceylon's Food Minister, means of correcting our serious these discussions-Router. balance of payments- situation, also had their effect.

out

British officials feel that the of Sterling in accumulation Japan le-evidence of a certain stagnation in Japanese affairs.

that

during the large extent, during War and, to the American occupation, Jepan was cut off from the business world at large.

point

been

This has encouraged Japan to depend to an undue extent on imports from the dollar area when, in fact, many of her re- |quirements could have

obtained from other sourcei

LARGE DEMAND

has been a Meanwhile there Jargo demand from rhany countries, including some in the Sterling Area, Гог Japanese goods, and this has provided the basis for the rapid growth of Japan's Sterling holdings.

SINGAPORE MARKET

Singapore, July 24. Prices of rubber futures closed today as follows: Nehber rubber, per 10.

August

September

0793-96 87-8735

Number rubber, August 0212-63

October Number 3 rubber. August 17,071 Number, rubber, August 721-78 Spot rubber, unbuled Banket crepe No. 1 pale trepe

8714-4 00-60 1074114 United Pres

Turn-Round Of Ships In

The Colonies

on hay anything like reached its fimit: on the contrary, the oil industry is expecting this consumption la redch 1,000, 000,000 tons or more within the comparativo next few years.

LARGE-SCALE PLANS

The forceceable occurrence of such

staggering demand obviously calls for equally large-scale anticipatory planning to meet it

"THLUWAN"

"TJIWANGI"

"THIRAMPER" "DOISSEVAIN”

TJIHADANE* “TÍTJALENGKA” "ITRAAT BANKA" "TJIKUWAI"

Bingapore, bjakarta, semarang,

Burabata & MACAKT

Ningapore, Penang & Belawan Dell Djakart Tiirebon, Bemaran

Surabala & Macharny

Japan

Burore,

DJakarta, --- Semarang,

Surabata & Macassar Singapore. Penang & Delawan Deti Manila, Singapore, Mauritiu

8. Antea 8. Ambries Djakarta

Tiirebon, Semarang

Burgbala & Mincassh Atngapore, DJakarta, Sematang,

Burabala & Macasany

ARRIVALS

In Port

July

From

#jakarta, emigrans, Surabaja A

MACKBEAT

Japan

8, America, 5. Africa, Baurlik,

& Ringapore,

H. Anterica, E

** Aug. 1

Ang. 4

Aur. •

Aug. d

Japan

Aug. 12

ATACRISET,

INGE

Maurius & Singapore

Зара

Burkbals,

Djakarta & Singapore

Africa,

Semarang,

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vid BAN FRANCISCO, LOS ANGELES AND PANAMA. NEXT SAILINGS

M.S. "JEPPESEN MAERSK” M.S. M.S.

"HULDA - MAERSK”

TREIN MAERSK”

ARRIVALS FROM U.S.A.

M.S. "TREIN MAERSK”

M.S. "PETER MAERSK”

M.S. "NICOLINE MAERSIÓ”

AGENTS:

July 30 Aug. 10

Sept. 2

Aug.

7

Aug. 11

Aug. 30

For Freight and Further Particulars please apply to:-

JEBSEN & CO.

Pedder Building.

Tel. Nos, 86060-9.

|ADVANCE IN NOTICE TO CONSIGNEES

COTTON

FUTURES

New York, July 24.' Cotton futures plished up as a balo today, much as $1.55 responding to the strength in stocks.

Prices edged up 3 to 5 points at the opening on light light lccal buying, then climbed more sharply as Blocks moved up with a brightening outloolt in steel as Union and management heads met with President Truman.

The list closed 23 to 31 points

Such plans are, of course, al- ready wch in hand and taking concrete shape. But they must of necessity be of a far-reach- ing, international nature. It is Infinitely more than just a mat- ter of searching for and finding fresh crude all deposits: it is a To remedy this, Japan was

matter of ensuring that all the London. permitted, under the terms of The turn-round time of ships other essentials such as re-higher, around the day's highs. the Sterling payments hgreement, in Colonial ports was the sub-ning, transportation and dis- to finance her trade with transfect of a question in the House tribution facilities are adequate spot firm sold about 15,000 bales ferable account countries in of Commons.

to the task. And this means Mr R. S. Russell, Cons, asked planning of a scale and com- Sterling. Bank of England con- sent was required for such how present-day times complexity perhaps unequalled in transactions, for

consent would years, cash, Prices closed at the end clear that

LONDON

MARKET

London, July 24.

The tin market was, firm this morning with a turnover of 40 tons of which 15 tons were

of the omcial morning session as not be with, it was made pared with those of pre-war any other Industrial sphere.

follows:

Shot tin, buyers Spot tin, Bellera Business done at Three-months tin, buyers Three-months Un. Business done at Bellement

sellers

Economic Talks

out of

now

more

Traders said a single leading

Spat

October

December

March (1963) ...................

May July October

December

04

40,15 38.97-34.90'

34,64 nominal

www

United Press.

of nearby October through May.

The tight spot Bituation. with the expectation that prices will hold fim, helped the nd- vance but the trade expects It incare, too, much

narrow and quiet Mir Harry Hopkinson, Minister

than

mere paper

planning: It generally. of State for the Colonies, said he means Japan, however, has apparently

opending-again on prob markets until the new crop be

unprecedented little use of these could not make a precise com- ably an

scale.gine to move. made very

Prices closed

today facilities, and one reason for this, parts at understood that Equipment of the type just follows Don-60% It felt, may be that Japanese corde, but it was understood, that mentioned is often fantastically

is

In some Colonini ports chips were costly, even by modern indus- businessmen are, still

turned round at least as quickly. trial standards, 1907

touch with world markets.

If not more rapidly, than before 080

from

Tokyo

the war. Sports United Press,

RESERVES VITAL that the Japanese "At those places where the vernment is prepared to ex-

The oll men are well used to rate hus deteriorated through, for band trade with the Sterling example, increases in traffic and welting

multi- cheques for Aren to £200 million in both cargo, urgent steps are being millions--perhaps forty million directions. This is to be done by taken to improve port facilities pounds or more for a new re switching purchases of rdw to reduce delays,” he added, **** finery, or for a major pipeline materials and foodstuffs from the

project; a similar amount to Aviation Export On pay for some new exploration programme (which may or may Visit To Taipei, not be rewarded by the ultimate discovery of fresh oil resources), Mr H. Davey, director for the or to buy half a dozen now Far East and the Pacific of the super-tankers and build yet an- other tanker terminal at which International Civil Aviation or-

thesd monsters can Betth. ganisation, who is in Talpel on

Sums of nature soon add a short inspection trip, had a

to. Colals resembling a two-hour conference today with up

Only, unlike the Nationalist civil aviation national debt.

such a

debt, they cannot be directorsFrance-Presse.

passed on to the community in

shape of

of taxes, the Soriano In Taipol -

The all men have to replenish Talpal, July 24, their exchequer themselves, and part Mr. R. Soriano, former pre-out of present

In Saigon

a steady and substantial surplus/ made up, and more than made Nguyen Von Tam, today. In-understood, would welcome this:

14

for many years to come."

Revlowing the problem in pers spective, the Treasury puts the rebuilding of the gold and dollar reserves as the most urgent need án earning a surplus.

Taipei, July 24.

or a

Upward Trend

In Grains

Chicago, July 24. Chicago grains joined most commodities. In an upward in trend featured by Atmintis vegetable oils of the veller that beans were substantial

Vover September contracts.

Wheat fulürbs" "closed todñy to 1⁄4 'higher and soybeans were 24 to 4% higher-United Press

Prefland at

dollar area to the Sterling Arts. Saigon, July 24.

HONGKONG'S POSITION The Vietnam Prime Minister, The British Government, it is augurated a three-week economic expansion of trade, provided that conference.

it was in balance and Ananced in from Delegations

France,

Sterling. Vietnam, Laos and Cambodia

But Treasury ofclats would. are taking part in the ton- ference. The opening session turn down flat any request, such was attended by the French as the report suggests may be Commander-in-Chief, cherol made, to make Hongkong subject account. It is clearly indicated by this

Solan, and the commander of the to a separate trading in the Bullelin that, southern rerion General Boud Hongkong is part of the Sterling

The article

view la taken here that. while new Government men- |--France-Presse

Area and must b for a renowed export Bured

be treated as Buch. roserve level of drive might be taken, in the

Commenting on the prospects £1,880m. a

of priorities, the main form "quite inadequate hope will lie in an exhortation

for Japanese-Sterling Aren trade, alddat of the Philippine Airlines carnings. That is why adequate NY Pepper Market as a buffer against fluctuations to Industry to increase its ex- in the trade of the whole Sterl- port effort,

world," Recognising

"The second quarter's reserve Agure signifies no more than the end of a downward 'alide, not a positive step on the uphill climb to security it saya.

RESERVES INADEQUATE Tho

present

£000m.

year ago

gainst

that increased ing Area with the outside In which transactions both ways exports depend In part on the fatal, about £10,000m: a year. Government's fortith

trado

A fall of 20 per cent in the negotiations, the article deciated: price of wool, or a 20 per cent "It primarily a task for The fall in the value of U.K. textiles ) dustry\!!!

Exchange Rates

J

Consignée pér Australia-Wall Paciße Line m.. "CITOS"

are hereby notiflod that their cargo 1 being discharged into the Hong. kong & Kowloon" Whart & Godown Co's godown, where it will be at condigneet rik and, subject to the What's terms and condition of storage, and wheta delivery may ba obtained.

Damaged packages are to be left In the godowns for. examination by Consignees and the Company's nur- veyors, Messrs. Carmichael & Clarke at 10 am, on the 23th July, 1932.

To comply with the General Bond- ed Warehouse Regulations, consigned must have a Ravenue Offerti. stendance when damegéd" Uulabla goods śru Bækmined.

No claims will be admitted, after the goods have left the steamer's godown, and all goods remaining un- delivered after the 20th July, 1913, will be subject to rent,

All claims against the steamer must bo presented to the Under- signed on or before the 2nd August, 1932, or they will not be recogated. Nu Fire Indir nod Will be effected.

DODWILL & CO, LTD.

Agents, Hongkong 21xt July, 1932.

NOTICE TO CONSIGNEES

CIE DES MESSAGENIES MARITIMES

Consignees per Company's 8.1. "MEKONG“

are hereby notified, that, their cargo is being charged into the Hong Rong de Kondoon Whart & Godown Co godown, where it will be at Contignees elk and subject to the What's terms and conditions of storage and where delivery may be obtained as 4005 as the goods are Janded.

Damaged packages are to be, left in the dedowns for exunicacions by Consignees and the Company's $50- Vepra Memek Goddard & Diges 161374 m. on Saturday, zdik July, 1932.

To comply with the General Bond- ed, Warbque

Con- Hegulatione zigúres trakt fara a Záverse Offcer in attendance wisen, damaged duti able goods are examdoed,

No 'ciate will be admitted after the goods five teft the steamer a godowns, and all goods, remouning. undelivered after Rail July, 193z, will be subject to rent.

+

All claims against the steamer must. New York, July 24. presents, to the undersigned on the Financial Tunes says Joppi's and now general manager of capital reserves are ahendusely

or Betoru 23in August-1953, or they adversé Balhnicè with the Sterling the Borlaho. Company, which vital to the oll

Tho

pepper markes wad | Will not be recognised, to the Area in June ‘Is 'nol "anything deals, mostly with mining and

of stendy, Traders quoted adoste awing

No Wire Insuretics will be effected. hero arrived -

911 products to modern civilim at $1.00 and 11.11: a pound. flike enough to remedy the steel industry arriv

flon, what is essential to the oil On shipment positions, duly was CIR DĖL NENADERIES “When the payments Agrédi „Mr Borlang, sald that his industry la of concern to every indicated at 1.05-11.00 ©AT- Present lack of balance in trade yesterday thent comes up for renewal, it trip was for business purposes, one else in the work-London gust $1.00 and September $1.40 Hongkong hard July, 1902.

Express: Service, 11.00 | eddaj: "11/must be made quilt France-Prosse,

a pound.United-Press.

Budness was done in the local undicial sxchange. Tharkut, this morning, at the following · rates:^«/ trid, döllar ilgt0 (1) java ptering, rate (pel-di) opium 16,4ls inabagi rudom (per 100) Singapore fair

seek FIC planfea (per 100) kuk