1952-07-28 — Page 9

THE CHINA MAIL, MONDAY, JULY 28, 1952.

MESSAGERIES MARITIMES THE CITY MARKS TIME

MM

Arriving Leaving

Outward FOY

Europo

Momoward For

“GRENOBLÉ” . ........Aug. 27 Sept. 1 "FALAISE"

.....Beyt. 10

Hept. 21

Europe

Berl Aug. 10

AUR. 11

Aug. 14

-N, Airjeg & Earoya

.....ept. #

Aug. 18 Sept.

D

N. Attick & Europa

+"MEKONG" longkong Aur. 13

"TELIX ROUSSEL" .....AVE. 18

COURSEULLES"

* For passenger and freight.

Marsailles via Man!İN

For freight to Saigon, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

-via Marselles to all Mediterranean & West Africa Paris.

-via Dilbouli to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

A

EVERETT O

Tel. 26651 (3 lines).

LINES

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

"LENEVERETT"

Arrives July 29 from Manila..

July 30 for Sails

"REBEVERETT"

Port

Singapore, Swettenham, Penang, Rangoon & Calcutta.

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

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

EVERETT STAR LINE

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

FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR ALCYONE”

Arrives Aug. 4 from Kakinada.

Sails

Aug. 5 for Kobe,

Yokohama.

M.S. "THAI"

Osaka

&

Arrives Aug. 9 from Philippines. Sails Aug. 10 for Kobe and Yokohama,

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

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophono-31206.- Chinese Department: Telophone 28293,

Advance

In Cotton

Market

HONGKONG

SHARE MARKET

(From Our Correspondent)

Awaiting The Economic Affairs Debate

Japan To Ask Revision

Of Agreement

ask

Tokyo, July 27, Japan is expected to Britain for a revision

of the present overall pay- ments agreement when the ract expires at the end of August,

Press reports so'd today. They

added that the Japanese will not necesarily seek

*** W

mediate adoption of the proposal however.

The reports quoted' a rellable

source as saying Japan intenda to point out that Japan's Sterling bold- valued at £$8,000,- fnew, 000 when the agreement

Ligned a fear

BEO, now are valued at £120,- 000,000 more than a three- fold

increase in a year. The main reason, say the the Japanese, is because

British Pound valued.

3 over-

bo.

Japan will also suggest greater co-ordination tween Britain and Japan.

United Press.

Industrial Shares Lead Way

QUIET RALLY IN WALL STREET

the

Stock Exchange Maintains

An Air Of Calm

(From Our Correspondent)

London, July 27. The City--and the country-is looking forward to Tuesday's debate on economic affairs in the House of Commons with rather more than usual interest.

Its first reaction to the announcement that the debate was to take place was one of frank alarm-engendered less by any available evidence of a rapidly deteriorating situation than by the rather alarmist phraseology of the Prime Minister's statement.

Since, however, it has been established to the City's apparent satisfaction that Mr Churchill referred to "grave and far-reaching matters," and not "mea sures," as was reported in some newspapers, something like an air of calm has returned to the Stock Exchange.

19

at

In quiet conditions most stock markets have shown a surprising resistance

of to the pressurY

as well events-abroad homo-and

prices have on the less whole remained more or unchanged.

Obviously the City prefers to at tight and wait until it hears what the Chancellor has to say and perhaps do but to judge by the relative firmness of the stock markets in the meantime It does not expect anything very terrible in the way of new

measures.

The paradox of this situation is not as extrordinary as it may. Everybody is agreed that the state of the nation's ecotiomy demands immediate action,

SCcm.

as

The measures announced last November and supplemented in March have not proved decisive, as was hoped,

Something must be done but the question is: What?

LITTLE DOUBT

If it came to a decison between

duty there popularity and ittle doubt that the Government would choose the latter. It has already lost popularity and the only way it can regain it is by putting the country's economy back on an even keel,

Nevertheless the decision is a hard one.

New York, July 27. Industrial shares paced a quiet advance on slock market last week.

The group

set a new high than 21 for more

year on on Profit-taking Thursday.

the steel strike Friday, after

moderate brought mo settlement, declines in all averages..

Traders moved with extreme caution early in the week.

of the weck, At the close

industrial average stood at the 277.71, up 3.81 railroads 1,69; ulMiles 50.20, 102.29, up up 0.04.

The rise. was predicted

early and of the steel

There is some evidence that Government policy is working along these lines.

WAGES POLICY Last week the Minister of Labour raised a storm of pro- ration by 12 Wase Councils! test by sending back for recon-

of

proposals for wage number

dis- awards to workers in the tributive trades.

a

This was followed a few days later by the National Coal Board's rejection of a clain which would have cost £50 million year in increased wages for coal miners.

essential as well as incesentipi investment in industry.

All in all, the Government's dilemma to not to be envied.

The only thing that seems to be at all agreed this week-end it will sangunco some shifting in the relative emphasis on production for export and defence.

Whether this will be enough is another matHANGE

STOCK

Very little business was done in the Stock Exchange last week and no definite trend emerged. Investors are naturally hold- A third blow was struck when ing their hand until Tuesday's further the Railway Executive turned debate reveals what down a claim from railway meastires the Government has in workshop employees for a sub-mind to correct the economie

Increase in wages.

situation. The subject o wagis has Prices showed little chango on

under active considera- the week but industrials tended by the Trades Union Con- to be a little higher and gilt- gress and the indications are edged suffered a slight decline. that it will Impress upon its members the need for restraint in wege demands.

CONTROVERSIAL

AS

At the end of the week the undertone in the market for in- dustrial equities who fem and conditions in the gilt-edged

were described market It would be dissault, however, even for the moderate Trades &pathetic.

There were few changes in to dissuade Union Congress

commodity shore prices Rubbers workers from malding wage and leas were again neglected of living, and coppers were affected' by demands if the

uncertainty as to the new pricing were to go on ma

So far as monetary policy is contract between the Rhodesian concerned

a further turn of producers and the Ministry of

help by Materials, screw might Any of the measures discussed the

At the end of the week gold in this colunin last week would reducing demand for goods re- be extremely unpopular in one quired for export-though this shares were in strong demand, quarter or another. Folitically, supposed effect of an increase specially from the Continent, on it would be safest but not wi30 | in interest rates is et @ matter rumours that the official price gold would shortly be in- to slow down the rate

controversy armament. But would increase -But, like the reductions in

reports attributed this popularity home investment brought about Goverrunent's the

to a belief that the more direct means," this demand abroad?

by A further cut in home Invest- would have a damaging sifest Pound was to be "set Trep" but

Soy long-term this possibility is, to country's ment, in order to set resources | on strike.

If it discouraged least, remote. Wall Street umot this in-free for the export drive, might prospects ddent

to conform with the give some short-term relier But Democratic Convention and itit certainly would not improve proved correct by develop this country's chances of effecting

long-term recovery, The first reaction to the A forced roduction in dorpestic spike settlement was modest, consumption would obviously bitter opposition..... the rally in the Friday oession evoke attracting profit-taling, and especially from the trade union prices closed off on the week. rank and file who are now at Steel shares steadily ignored loggerheads with the Govern

dia

туда

ments.

*

10

of re ou

the strike news, scoring smallment over the wages policy. gains.

Motors moved higher. Sever- al strong spots in ulilitics lifted

that group.

Chemicals provided several good gainers. So did rails.

A long list of special stocks moved higher in various

sessions.

Romu

kykl

our own

MONETARY POLICY Further import cuts widely acknowledged to be out of the question. Those already imposed have brought about

resistance to exports; any more would only provoke retaliation.

That leaves "monetary policy." Activity for the week wpa

aircady taken in this centred on a group of specula-direction (the raising of the bank to four per cent and the rate Some of the leaders like U.S. Steel, Pennsylvania Railroad, tighter control of credit) have General Motors and Internation been welcomed by a panel of al Harvester and Bethlehem independent economists In Steel, were in the active group. report prepared for the Q.EE.C.

dive issues,

United Press New York, July 27,

few favourable 'develop- ments, such as the alocl setite- ment, the anticipated buying by France and Japan and the tigh:

There was a spurt in business this on the Stock Exchange

total turnover morning, with quotations and the morning's transactions:——

spot colten situation helped to amounting to $444.576.80. Noon INDIA

lift cotton prices last week.

Trading continued at a slow. paco,

Friday At the close of the market, eoiton futures in New York were 27 to 35 points higher than last werk,

SHARES BUYERS BELLERS SALES BANKS

East Asia

INSURANCES

►

Union. 74744 75716

small Net

were changes throughout the week in either direction, with the widest move coming on Thursday when cotton SHIPTING followed stacks up in anticipation

of steel strike settlement,

Broad buying

from New

10 134

2 755

Underwriters 10% Fire...

134

Ash Nov

1.58

500 1.03 10000 @ 1.315

400

Orleans also helped the market DOCKS, ETC.

to break out of its narrow

that trading range of session.

The market performance on Wednesday was helped by re- ports

in export circles that the Export-Import Bank had re- activated the $45,000,000 loan to France to buy cotton here.

This had been under con- sideration for

some time but

Franco

had decided to defer

6.10

1.3

5417.30

AND

TIBET

New Delhi, July 28.

trade with Tibet ladio's

decline in 1951-52, showed a

for although it cannot be said

octails whether this was due to the Red Chinese occupation

The Commerce Minister, T. T. Krishnamachar), sold this Parliament,

replying to tions.

a

the

Brazil

of

Aug

Aug

"TJWAKO"!

"BOISSEVAIN" "TJIZJALENGEA” "STRAAT QANKA" Aug.

*TJIBADANGI

*TJIDODAN"

Aug. Aug.

12

Japan Diskarte.

PEJILUWAGA

Aug. 18

“VAN BEUZ 62"

TJIWANGIN

APE.

Bapt.

:

"STRAAT

Sept.

sept.

Bapt.

•

MAKASSAR "TJÍFONDOR"

“BOISSEVAIN*

"TASMAN "İHLUWAI"

"TJISADANE" “ŠIKAMPEK”

*TEGELBERG" "SIWANOF"

"VAN HEUTIZ“ KAYLA AT

MAKABBAR" "TJIPANAS" "TJIBQDAS"

"TJILIWAJI"

*THWANGTM"

"BOISSEVAIN”

Pase 9

BAILINDS

DBESKIDOTA. Dlakarta.

Burabals & Macassar

Japan (via Manión)

Bemarana

Singapore, Mauritius, B. Africa a

8. America

Mana.-P. I. Perty. – Bingapore, Penang, Belawan Del; BizTA DARK, Tanz, Kanzibar, Daren-Valgard, B Africa & 0. America

Tjirebon,. Bemarang,

Burapia & MACELY

Bingepero

Kerabula & blackmar

BEMAKSDS,

Hingapore Pakang"& Delawan Deb“

Siperpara, Djakarta,

prabala de Cacassar

Semarang

Jakarta, Tirabon. Semarang.

Surabats & Macassar

Manila,

Singapore,

s. Africa & 8. 'America Japan

Djakarta,

Surabala & Staszer

| Bingapore, Penang Belawan Deli

Djukićta,

TJirebon,

#arabala & Macaspar

Japan

Bingapore, Djakarta,

Burabaja & nacassar

Bematape

Htogapore, Penang & Belawan Doll

Singapore, Mauriti

B. Africa & M. America

Japan

Djakura, Tiirebon, Semarang

Burabala ' Macassar

Bingaporu, Djakarta. Semarang

Bürabula & Machine

ABRIVALB

ALLERGIAT

From

Djakarta, BOMATRIE, Buzabala

5. Amteries, S. Afries, lauṛitlus,

Singapore

Japan

Sept. 14 Nept, 16

- Sept. 19

дерт. и

Beps. 30

Uct.

Oct.

Oct.

Oct. Oct. 12

Oct.

9

14

to Port

Apr.

1

*STRAAT BANSA”

TJALENGKA” - Aug. JIKADANE" "JILUWAI

"VAN HEUTZ"

stagepore,

Mauritius,

BEATINE,

Bekarang,

Abr.

Тарка

AME.

ARE.

Aug. 12

20

H.

America,

B

Africa

Maurition & Ringapore

Machasar, Surabala

Barat,

Darts & Singapore

JAPAN

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BAL/YMORE & PHILADELPHIA via BAN FRANCISCO, LOS ANGELES AND PANAMA

NEXT SAILINGS

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

ARRIVALS FROM U.S.A.

M.S. "TREIN MAERSK❞

the

M.S. "PETER MAERSK"

M.S. "NICOLINE MAERSK"

AGENTS:

Planning To

Increase Nation's

Power

Stations

Rio de Janeiro, July 27 About 80 per cent of power consumed in Brazil comes from its forests: Firewood and charopal. From this fact it has been said that Brazil built a "firewood civilisation."

Brazil has some of the greatest waterfalls in the world. On the basis of mean annual flow combined with considerable height, Guaira Falls, on the border with Argentina and Paraguay, in the world's greatest. Urubu- punga, on, Parana River, Patos-Marimbondo on Rio Grande and Paulo Affonso on Sao Francisco River, are ainong the seven greatest.

But only about 1.3 per cent of power consumed here comes from hydro-electric sourers As to potential power from natural falls, Bradl ranks sixth among n the notions of the world, with ons, estimated 14.4 billion kilo

Their praise for the deter- mination of the Government's application of monetary policy is almost

as unstinting as their criticism of the Socialist Govern- ment for its failure to check in- dation by the same means.

The panel believed, however, that more should have been done to reduce home consumption waite through budgetary action. welcomed the cutting of the food subsidies but considered it regrettable that so much of the

oblained

was lost saving thus

taxation.

It

Now Brazil has decided to save it forests and use more of the reserves of "white coal." The output increase of hydro- electric powpe has been meat by compensating reductions in From 1934 to 1950 it increased 1932 It also expressed strong views 125 per cent, reaching 8.2 billion in on the tendency for wages to kilowatt hours in 1950. In 1932

If increased six per cent, reach ques go on rising without a proper ing 8.7 billion kilowatt hours.

Lionste Increase in productivity,

of grow But in If the

consequence

railway ing industrialisation, break. of cak. "the prospects would be electrification and expansion of goats, serious and the effects of much urban transport the butput has

of what has been done to re- rat cept pace with demand.

equilibrium would be ostabush nullified."

033 K. Whart

4635dia rectives from Tibot .N. P. Wharf

Dock

...... 18.10

raw wool, borax, hides 1000 10.20 entile, skins cf sheep and Provident... 11,70 13

tobacco, and some grains and S'hai Dock 1.50 Wheelock ... 42 4235 700 € 43

pulses

its Northern India exports to LAND, ETC. HK Hotel

200 0.56 neighbour rice, cotton, iron and lix Land

steel, petroleum, salt, sugar, tea (Old)

and tobacco, (New)

.... 423 S'hat Land, 1975

G

"

200 44

UTILITIES crop

Peak Tram 19.10 19.30 3000 19.20

until the new buying comes in.

Earlier, the trade heard re- ports that Japan will buy 450,- 000 bales of US, cotton and '50,- 000 bales of other foreign growths during July through September United Press.

Exchange Rates

Disine was done in the local tmofficial-exchange" market this morning at, the following rates:--|

6.4720 13.1. dollar (per $1) aris rowel, (her 1813 2 Indonesia kuliders (per 100); 4:56 Slain,ticals' (per 100)

$15 piksite (per-100),

31.00-

Tirant

(014)

(New)

DD

811 0.33 0000

3.03 8.70 1000

* 23.30 100

Star Ferry.. C. Light

(old)*** [Now) society

Maçao Electric Telephone.. 17.30 1714 300 @ 17:30 INDUSTRIALS.K

Cement ... 17.00 12.40 1600 17.10 1500 17.20 10.30.

STORES, ETC.

Daley Watson

21.30 14.90 2000 @ 14.80

• Crawford 22.30 COTTONA

Two

100 B

200

24.90

Peking recently rent through Calcutio 1,000 tons of cloe for Tibet-Associated Press.

woge

restraint were to

"

ONLY THREE

BIGGER

Sao

the

It is estimated that the Francisco River basin contains about 0.1 per cent of all hydro-electric potential of the country, being its fourth basin in Importance, and that the Aftonsp integral use of Paulo only will afford more than 800,000 Kw.

July 80 Aug. 16 Sept.

2

Aug. 7

Aug. 11

Aug. 30

For Freight and Further Particulars please apply to:-

JERSEN & CO.

Pedder Building.

PENINSULAR

Tel. Nos, 86066-9.

& ORIENTAL·

STEAM NAVIGATION COMPANY

R.M.S. "CARTHAGE”

BAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 1st Aug, at 12.00 Noon for the UNITED KINGDOM: vis Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co's Godown at NO. 2 GATE, CANTON ROAD ENTRANCE BY NOON on THURSDAY the 31st July, 1952.

The

Francisco Hiver Company started in 1945, as a Joint Government and private with a 400,000,000 enterprise, Cruzeiros

half of 1 Capital,

Federai State Government, the rest by subscribed by the

"Autarqulos" SPECIAL NOTE: With the exception of hand packages government,

Auto- (Federal Government.

carried by passengers themselves,. ALL BAGGAGE must pass through nomous agencies) and private capitalists.

the Wharf Co.'s Godown for loading on board by ship's elings only.

LARGE AREA

The company WOD

the

granted

vertical wells 50m

*

Will take place on FRIDAY, the lat Aug., 1952 between 9.30 am. 11.00 B.m.

BUSINESS REGULATION

ORDINANCE. 1952

and

PRESS PHOTOGRAPHS

At present there is a defeit the right to use the, hydro EMBARKATION:

electric power of the river of about 500,000 Kw and ex- USUAL FORMULA ports estimate that a yearly during 50 years and will supply must high chalon power to an area "In the present circumstan- Increase of 200,000 Kw. ces," the report adds, "the risk be made during the next few of more than 600,000 square kilometres around the plants, ma of not leaving enough margin years.

In 1040 against inflation is greater than

Company started the risks in other directions,

To attain this; one of the building a 120,000 Fw: assumption is certainly

projects plant, a 1,147 metres long of what Government's greatest against

my relaxation has

Francisca deep and seven metros, wide been done; we should regard in progress is Une hydro-Motic two ver

company of $90 Rubber Futures with grant apprehension any

River and the plant at Raulo and two trunk lines wall a total end Length of D40 klometres, fendency to greater

Aftongo Falls, 197 feet The panel's formula for Bri

The 1,000-mile long. Bao terminal, points at Salvador, sain's écórzomie rodovery, there- fore, is greater auntarly. But Fancliflower bortheast capital of Bighia State and only a limited amount could be through five Central and North Recife, capital of Pernambues Copies of the prescribed taken by the South China and Sunday Post-Herald, done in this direction without cast States, Towing into the The exponges for conclusion Forms 1 (a) 1(b) and (c) Morning Port, South China ana Autumn Budget and at Atlantic Ocean on the Brazilian of this first phase expicted to

be ready permblity: is Yuled | Bulgs, CLAPARAN eta estimated

by next year-were

China Mall Staff Photo [at]

300 1,053,448

on view In graphers are of home de- of Phulo Altona Falls Cruzeiros. Up to December, "A certain amount

glo-1850 the company had spent Dometres Dobermand for conuine code ebula spout 220 km ca 290,410,000 Cruzotros. In 1962,

bo choked off, however, allowing prices to whhe (cubic feet per cond) and Congreso opproved, abs incressé 29 3711 85% the same time holding wages only: Gurita”: Khon #Bulls: (a) in the capitate from 400,000,000

more or less at licirarement Indo-China and Nagets to the to 000,000,000 Cruzeiros Asso

ciated Press. United States, nog: pester,

In S'pore

Singapore futures

July 20. Price eloped today as follows: Number rubber.. per th..

August

September

Number rubber, August. 7732-7 Number: 4-rubber. Augus

*pos" esiper."

400 7.75 Blanket drape ****

No. 1'pale crepa

07-09 107-11

Hed-Frem.

out

IN CATS

Now On Sale at SCI

M. Post, Ltd. Hongkong and Kowloon

TEN CENTS. EACH

Copies of photographs

the Morning Post

ORDERS BOOKED