1952-08-06 — Page 9

MESSAGERIES

M

"GRENOBLE” "FALAISE"

MARITIMES

Arriving Leaving

.ABE. 27 Sept.

Bopt. 10 Sept. 21

*"FELIX NOUSÕEL” .......... Aug.

+"MEKONG"

Keclank Aug. 10 Hoogkong Aug. 12

Aur. II

Aug. 13

'COURBEULLES”

.....Sept. 3

Aug. Sept.

18

9

•

For passenger and freight,

M

Outward For

Europe Europe

Homhward. For

-N. Africa Enrope

IN.

Mamelles via Manila

N. Africa & Eutópa

1 For freight to Saigon, Airiers, Oran, Tangier, Casablanca, Havre,

Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

-via Marseilles to all Mediterranean & West Africa Porta.

via Djibouti to Madagascar.

Anbject Tu Chango Without Notice.

CIE DES MESSAGERIES

MARITIMES Tel. 26651 (3 lines).

P.O. Box 63, Hongkong

Queen's Building (gr. floor)

EVERETT

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.

"REBEVERETT”

Arrives Aug.. 8

from Singapore.

Sails Aug. 9 for Japan.

"BRADEVERETT”

Arrives Aug. 12 from Manila.. Sails

Aug. 13

for

Singapore, Swettenham, Rangoon

&

Port Penang, Calcutta.

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

EVERETT STAR LINE

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

FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI”

Arrives Aug.

9

from Philippines.

Sails Aug. 10 for Kobe, Osaka, Nagoya

& Yokohama.

M.S. "NORDSTJERNAN” Arrives Aug. 15 from Japan. Sails

Aug. 16 for Singapore, Madras, Colombo, Bombay, Karachi, Kharramshahr & Basrah.

(Accepting cargo for transhipment Kobe/Pusan and Robe/Okinawà)

EVERETT STEAMSHIP_CORPORATION S/A Queen's Building, Telephone 31206. Chinese, Department: Telephono-28293.

Decline In The Rubber

New York

Cotton Price

Now York, Aug. 5.7

the Beneficial showers over central belt restions dampened the bull movement in cotton. Prices dropped back as much as $2.75 a bale. It was the first major sceback since the bull movement got under way in mid- July. Prices closed today fellows

Spot

October

December

March 1953)

July

October

December

NEW ORLEANS

Boot.... October December March (1053)

May

July October December

Markets

futures

Singapore, Aug. 5. Prices of rubber closed today as follows:--- Number 1 rubber, per lb.

September

October

November

Number 2 rubber,

September September 1 Number 3 rubber, Number rubber,

15 September *******

Spot rubber, unbaled Blanket crepe

41.45 nominal

39.85-78.87

30.03

30.47

39.20

37.61 bid

35.69 nominal 35.45 notani MARKET

40.25

34.15

30,61

30.27

30.47-38.00

37.64 bid 35.71 bid 55.43 bid United Press,

Sino-Japanese Fishery Talks

Tokyo, Aug. 5.

represented

No. 1 pale crepo

001- 0374-80

01-01%

74.78

713-714

00-8714

QT-07

100-114 United Press.

NEW YORK MARKÉT

Prices

New York, Aug. 5.

of rubber futures

closed today unchanged to 10

with higher

14 contracts.

September October

November

December

Jay (1053)

February

March

April

Nay

June

July

August

Spot

September

Epica

tofalling

20.75 L 29,24 nominal 28.72

28.30 bid

27.66 nominal 27,53 27.20 bla

27.00 nominal 20.80 bid 26.72 hominial

25,05 Bld

20.45 nominai 20,25

-20.75

United Press.

LONDON MARKET

Landon, Aug, 0. Prices

of rubber

futures closed today as follows:- Number 1 rubber, in penca

*per 1b. September October/December by January/Marsh

April/June

The initial session of a corn- mitten set up for the establish- Joint Sino-Japanese ment of a Fisheries Company took place Bero today.

Japan was Tojei Iiyama, deputy chairman cf the Ocean Fisheries Delibera- tive Council, and six others, and Nationalist Chinn by Hua Shou- chung and three other Nation-

int Government offelals. The Chineso delegation at the conference introduced a proposal dehing and sales by the two on an equat basis, zuntrica

counter-proposal The Jugando counter prop the next committee session to morrow-France-Prosse,

20-2014 20-2014

2650-40

231-20

*United Press,

Tung Oil Price

New York, Aug, 0. Prices in the seeds and dis market closed unchanged with the following exception:

Tung oll, in tank cars, New York, F.O.B. 38% cents United Proazs,

THE CHINA MAIL WEDNESDAY, AUGUST 6, 1952.

Indian Mission To Japan

Tokyo, Aug. 8.

The Indian trade mission due here next week) iz ox- pected to improve industrial co-operation between Japan and India.

The leams, headed by f1. W. Gupia, leading Indian businessman, will seek to copelude trade agreements for factory equipment and Industrial goods. It will also request the Japanese Government to mend komme fechnicians to Tedia, ro- ports sald-United Press,

To Remove Restrictions On Steel Exports

Tokyo, Aug. 5. Kyodo News Agency sald last night that the Japanese Government has decided to remove its April restrictions on iron and steel exports to the Sterling Area,

ban was imposed as part of the to stop a of unwieldy

A partial Spring last Government's drive mounting surplus Sterling credits.

The export quota was set at 495,000 Long for the Sterling reduction from

Arca, a sharp the year before.

The Ministry of International'

Industry, Kyodo Trade and said, now believes that this will have to be lifted-mostly world loss of because of the about 15,000,000 tons from the U.S. steel strikes.

sald, Japan's Also, Kyodo trade balance with the Sterling Area has levelled off because of Britain's recent import cuts and trade can now be increased. planned to resume It is also steel exports-Associated Press.

BUYING OF COTTON

Tokyo, Aug. 5. The All-Japan Cotton Spinners Association yesterday decided to form a special association to ac- celerate the purchasing of thw cotton from Pakistan, according to the Kyodo News Agency to- 'day.

The presidents of five leading cotton spinning firms, including Kunitake Muroga of the Shiki- shima Spinning Company, were chosen as members of the pre- ommittee paratory

for the formation of the planned as50- ciation.

The commitee will hold its Initial meeting today. Organiŝa- tion of the asociation has been by the recent prompted Palokinni offer to increase, cotton exports to Japan,

Jepunere cotton men had been slow in purchasing Pakistan raw cotton in the hope that this would rarult in price cute to at least the level of American cotton-France-Presse.

FOREIGN EXCHANGES

IN N.Y.

New York, Aug. 5.

US$1.031

Canedo England-omclei

unofficial

30-day futures Bo-day futures

2.7031/10 2.0T bld/

2.7831

2.77

Australia

New Zealand

2.704

South Aften

Belgium

23

230-11/10 .01994

Denmark

France

West Germany Holland

0923-0/10 4.20 MZTAT

Italy.

Norway, Portugal Spain Sweden Switzerland MMdle Eart

Egypt

Tran Kroq Turkey Latin America

Argentina Brazil Bolivia Chilo

'Colombia Cuba Mexico Peru Uruguay Vearzucia

Far East

India

Pakistan Hongkong Indonesia Singapore

Copra

Copra

TUG-OF-WAR BETWEEN BUYERS AND SELLERS IN INDIAN ECONOMY Contradictory Influences At Work

Bombay, Aug. 4.

A tug-of-war between buyers and sellera

which has been going on for the past six months Trading

Contradictory in-

continues unabated in India. fluences appear at work in the economic field.

The money market is tight.. The Reserve Bank, the country's central banking institution advancing finance, seems to be vigorously pursuing its policy of contracting the money supply. Bank returns show that between the middle of April and the end of June, notes in circulation have been reduced by Rs. 360,000,000.

On the other hand, commodity prices, after touching new lew in' May, have resumed their up- wars movement. The trend was mere pronounced during the later part of June. During the month, the overall price index went up two per cent over the May Ievel.

After the recent price stake- up, the return of business con- ndance has been slow-rather painful. However, the announce- ment of liberal export quotas by the Government in June has given trade zome ground for export optimism, as far as the outlook and earnings are con cerned.

Japan Inquiries from

and the price to £154 per Australia for linseed oil boosted average during the second week of July compared to 148 the previous week. Exporters quoted £128 per ton for groundnut oil as against 123 the week before Mercury on African inquiries, closed the week at Rs. 393 per flash, a rise of 35 rupees over the previous week's level, due to speculative and export buying, Black pepper, another export re venue earner, stood at Rs. 3,350 for spot per 544 cwis-an time high for the year 1952-due to persistent U.S. buying and growers are reported to be bold- ing their stocks tight in the hope Cotton and higher of still

prices. artincial ilk yarn prices also recorded sizeable improvements due to exporter reports of marked Increases in overseas demand for Indian cloth,

All

Gold and silver generally showed a steadier tone with the rates around 88 rupees per toln ard Rs. 158 per 100 tolas respec- tively a rise of about two and Ave points.

TURNOVER DECLINING

Conversely, on the domestic consumer market front, reports from trading centres indicate that production and turnovers are declining. Shops and theatres, for the first time in several years, are complaining of less money moving about. Everybody szems getting more conscious of the value of money in hand.

Trade advices state that the, Government is still considering ways and means of wiping out the country's Inflated paper money. The total of such money is believed to be about Rs. 121,- 200,000,000.

Feeling the pinch due to turn- over contraction, one Bombay restaurant in a fashionable local- ity Introduced a combination meal system for lunch, marking down the overall price more than 30 per cent compared to its previous a la carte rates. When asked why he did so, the rani proprietor said! "The days of making profts seem gone. it is a ends miel. It is now ntcessary to alm at greater volume turnover on a smaller percentage of proft so we can carry on with our business."

HONGKONG

SHARE MARKET

With

Red China

HOPES IN JAPAN

Tokyo, Aug. 5. Japanese traders are hopeful that a £10,000,000 trade with Communist China will materialise by the end of the year follow- ing the relaxation of the banned list in Washington.

The Japanese Government, however, seems to think just the opposite...

Trade clrcles, upon learning of the five-nation decision to admit (From Our Correspondent)

Japan to the Parts Committee on Tade with Communist Coun. Yesterday's increase in busi-tries, pointed out that four items

on the had been struck off the let ness was maintained

machines

woollo: Stock Exchange this morning. spinning Dealings were fairly distributed goods, dyestuff and paper and throughout the list with total were included in the $13,000,000 barter accord Smo-Japanese Noon $825,664.40. transactions:- quotations and the morning's privately signed on June 1 in

Peking. SHARES DUYERS BELLER: SALES

Tumover

BANKS

HK Bank Float Asta ... INSURANCES

Canton Union

1338

A20

76315 74715 BK FU.... 134 Arla Nav. 1.BTIL SHIPPING DOCKS, ETC. W. Whart

4100

600 14734

03. 103 87 N. P. Wharf 8.00 Dock

18.30 16.60

1000 @ 8.00 Provident 12.40 12.89 4580 @ 12.40 Wheelock ... 4234 43. – 100 en siya,

800 a 423 6004294 C00 @ 43..

MINING Raub

8.30

LAND. ETC.

JUK Hotel... 0.40 016 UK Land (0) 4835 4815 Humphreys.

Realty

UTILITIES

Tram

1000 5.35

12.10

1000

2.16 10.80

....... 10.60 10.00 1000

· Peak Tram

(Old)

20.10

(Now)... 13.10

Star Ferry 100 10116

C. Light (0) 0% 8.00 6327 815

2000 8.00 C. Light (N) 3.00 138 8.30 1000 @ 3.90 21%

Elettric.... 22.30 22.00 700 MACHO

Electric

2015 Telephone 17.00 17.30 700 INDUSTRIALS

Coment Rope

18.73

STORES, ETC.

Dairy

Watson

ميد

The uitreament had been signed by two Japanese Diel members, Mme. Tomi Kora and Keisuke Honshi, and Red China's Trade Promotion Committee Chairman, Nan. Han-chen.

Those truders

expect that spinning machines will be the No. 1 ftem among goods to bu They xported to Red China. claimed that negotiations STO woll under way for a barter tude of 50,000 Japanese cotton pindles and 200,000 tons of Kailan coal.

They cleo

stressed

that

Japanese exporters are ready to ship out large quantities of dyestuffs to Red China now that the ban has been lifted.

On the import side, they listed as immediately wanted by Japan 5,000,000 pounds of namie, 100,- 000 tons of coking coal, 20,000 logs of soyabeans, besides tung oil, lacquer and gypsum.

GOVERNMENT VIEW

Those are the Items Included 17.70 in an import list prepared by the Sino-Japanese Trade Pro- 17.70 800 17.70 motion Association; a group of

1000 # 10.70

leading Japanese firms eager to 10.70 19 100 a 18,80 reopen commerce with China, 25.30

310 25 240 25.20

1. Crawford 24 COTTONS

1

Ewo

2,40

New Zealand

Beef For America

of

The value of import goods wanted by Japan already amounts to £17,200,000, it was pointed out.

Meanwhile, the Japanese Government does not seem to share the rosy view held by traders, The Minister of Inter- national Trade and Industry, Ryutaro Takahashi, commenting on Washington's decision, stressed the precarious nature of the current commercial relations with Peking.

Washington, Aug. 5. He pointed out that there is The U.S. Government yes still no way to negotiate on bank credits and claims even though of'terday authorised the sale Now imported New Zealand beef in Japan may be theoretically free a struggle 10 make both this country to replace Canadian to trade with Communist China, barred bc- Observers here noted in this beef, temporarily

the lack of an outbreak of fool- connection that cause of

'shipping will prove an immediate and-mouth disease in Canadu,

The Once of Price Stabilisa obstacle in carrying out trans- tion amended its beet price re-actions-France-Pierre. The Plonter Coffee House in gallon to permit sale of New Banbay's Churchgate Street was Zealand bec The ceiling on the first middle class restaurant

"CHEAP SALE" BOARDS

lower than

Easier Trend

lu Grains

to introduce this systeem and with beet delivered in this country a sharp price reduction in the will be 50 cents per 100 pounds

the ceilings 2.00 asked

Lace of the rise in prices of stapic food-bread, zice and wheat American beef at the same port the consequent upon the removal of of entry. This will be at the

wholesale level. At relall the food subsidy.

New Zealand bect will have the sathe cellings as domestic beet.

The OPS said about 50 million of New Zealand, beef Smaller shops are conspicuous pounds

by contracted for with "Ceap Sale" "boards, dis has been played in front of them. Almost American Importers.

sufficien! of

The ban all report lack

on shipments customer attraction and turnover. Canadian beef to this country The result has been that their became effeclive last February. funds, locked up in goods, con-

OFS sald that approximately tinue locked up, resulting in loss in milion pounds of Canadian of interest.

Money does not seem to beet were imported last year. as follows;

Associated Press, fast enough or, smooth enough to stimulate business activity.

005

200 yen to USŢI

-United Press. '

Quotation

New York, Aug. č.

$15200 as quoted to at

Cocoanut oil was quoted at 9, conds a pound.--United Prem

The Ditsensus seams to be that

sfter nearly 15 years of inflection, Pepper Market

the economy is now getting vul- nerable to a painful retreat from a trade boom to a trade slump.

United Press.

LONDON TIN

MARKET

London, Aug. 5 The tin market, pianged more than £20 this morning. Turnover

New York, Aug. 5.

Chicago, Aug. 5. Grada futuros and most major commodiieread today. The wheat market was steadfer thin the other grain ratures, finishing with minor femotional changes, Wheat closed 16 higher and soybeans were 2% 10 21% lower. Prices closed today

|Wheat-price per bushel

Spot

September December

March

MAY

Con Spol

Spice dealers reported a con- Beptember United pausa in demand for black December

material was pepper.

Spot Indicated at f between

can $1.76-$1.00 nge

a

March May

a pound, and Socia awaling Spot release at $1.741,76.

September

On shipment positions, August Gats was indicated at $1,55 and Spat

September

lower to 34

2.2016-3.2542 2.3914-2.40 2.412-14

1.08514-1.87 1.7546-36 1.BOT 1.81-1.8.

2.08 2.001

Brews

September $1.41.30 a pound, New York four-per 200 lb. Back. all on an ex-dock busi-United 12:10,mited Press. Preps;

was 156 tons, all for forward. Exchange Rates JAPANESE BONDS

closed at the end of the

marning

scoalori

omcini

follow

Spot Lin, truveta"

Spot Ln, sollers

10

גןד.

23

Businem was done. In the local

-Kondón, Aug. 5.

utiofficial - ekubaliks

market this | Japanese bond

morning at the following rates: U.S. dollar (par $3,00 Aibling rate (për (21)

210-010

Axtoneal guilders (of 100).. Blam,ticals (per 100)

16.00

31.00

14.. at 1934

140

United Press,

Bitgapore Biralta) FIC pleatres (per 100)

174 Conso

4716.

United Prese,

Business dona ni Three nonths 10. Buvert. 963. Three-monthia tin, seifers 044 Purpem done at

Settlement

1

Page V

ROYAL INTEROCEAN LINES

"DO:BIEVAIN» A -TIINALENGKA“ "STRAAT BANKA“

Aug.

"TADOVAS,

"VAN HEUTE **HWANGI*

*STRAAT

MAKASEAN "TJPONDOK"

STARMAND ***JILUWAR*

"TJISADANE"

TIKAMPER"

· "TJIWANGI"

TEGELBERG *VAN HEUTIZ” "STRAAT

MAKASSAN* "TIBODAS”

"TILLUWAN" :

THPANAS" **TJIWANGI

"DDIBSEVAIN”

"BTRAAT BANKA” "TJTJALENGKA" "TJIBADANE“

"TJILUWAR"

"VAN BEUTSZ"

BAILIN 0-8

ng. Aug. 11

Sept.

Sept.

Sept.

Sept. 14

Bept. 14

Bept. 11

Seit 25

Ort.

Oct.

fet,

Oct,

flet,

Got 18

Det.

Nov.

Jasin Pola Rasisi

"AIKENDATAJNIKAÜGA, A. APHA &

VEN ABARCH

Manita, Jakarta, · Bolswan

Dali

Aingapore, Pirani? Mombasa, Tangs, Zamılbar, Dares-Batnam B.. Altles & 8, "America

JAPAN

Burkbala & Matasar

DJkarts.

sing=pate..

DJARSITA,

Surabala & inexstar

Remarank,

Bemariat,

Semarkdj.

singaporn, Penang & Belawan Dəli

Bingapore,

Djakarta,

Búrábala & Mac

Japan

jakarta, Titebon,

Burubala • MERCATIAE

Kianila,

Semarang.

Ribjapore, Mauritius

n. Alrich & 8. Amèřích JADAM

Bingapore, Diskarta, Bemarang,

Surabala & Minchchar

Singapore, vnâng & Delaware Deli Ujaknita. Tjirebon, SEMATADE,

Surabala & Macasíar

stogapore, Djakarta,

"Bütrbála á diacassar

.Japatz

Becharabe.

Blagapore, Penang & Belawan Dell MANUA dingapore, Mauritina,

5. Africa & 8. America

kreton, Burabola de Macartar

Djakke,

Betnraba

Singapore, Djakarta. Bemarang.

"Kurábala do KYRERIGAT

Гарап

Aingapore, Djakarta, Semarang,

Burabola & Macanar

ARRIVALS

In Port

In Port

From

5. America, 6. Africs, Mauritius,

Singapore Japan

JAGAD

B. America, B & B Africa,

Musirikan & Singapore

Bumbia,

Aup.

Aug. 1

Aug. 12

Macassar,

ARK, 20

Japan

Djakaria & Singapore

KING'S BUILDING, Ground Floor,

Semarang,

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD. U. TELŠ. 31190, 25193

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND FANAMA.

NEXT SAILINGS

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

Aug. 16 Sept. 'Sept. 15

2

In Port Buoy A5

Aug. Aug. 30

9

ARRIVALS FROM `U.S.A...

M.S. "TREIN MAERSK” MS. "PETER MAERSK" M.S. "NICOLINE MAERSK"

For Freight and Further Particulars please apply to:-

AGENTS:

JESEN & CO.

Pedder Building,

Tel. Nos, 86066-9.

Mines

Mechanisation In

Japanese Paying

Dividends

Tokyo, Aug. 5.

Japan's coal production is steadily rising, to the accompaniment of falling costs, under the influence of an extensive mechanisation and rationalisation programme.

Production costs are still high, but Japan is one of the few nations in the world which is con- sistently and steadily increasing coal output per.. miner.

German methods, and German still be imported from French equipment are largely responsible | Indo-China, India and the United for the continuing transforma- States. Cheap Chinese coal from tion in Japanese.methods. Some the Kailin mines remains a Juro been imported to Japan's heavy Industry. The equipment has from the United States, but Ger- present polley of the Government man machinery is more suitable is to suspend coal imports from for Japanese coal mines, which the United States in favour of Japan is resemble German mines in size India, whose trade doggedly cultivating. and layout.

Wages bave risen and are rising as trade union influence. Accordingly, some mine owners, are pressing for a repeal of the excessively de mocratie" pccupation legislation which keeps girls of from 16 to 10 years out of the mines.

Adcording to a current three- year plan, based on United States expert advice, coat production is increases. scheduled to be 53,500,000 tons in 1954, or 15 per cent more than the 1951 totol.

£10m, EQUIPMENT COST The output of the 1s big com-

panica (which produce 10 New York Sugar

cent of Japan's aggregale coal output) is expected to gain as much as 17 to 18 per cent, with

a monthly output per miner of 17 tons d

18

nt

£10m. for

,,

Futures

New York, Aug. 5, World sugar futures closed that, It is predicted rallonellustion is not hampered, unchanged to 1 lower with sales the 20-ton mark will be passed totalling 66 contracts.

Contract No. 0 closed un- by 1934. The cost of completing changed to 2 lower with raloc the current mechanisation plan toth Bing 416 contracts,

estimated

CONTRACT NO. 4 (world) alone.

September Japan ranges now from 3,000 to January (1085) 4,300 you

b. tch. (1,000 Yen March

May 21.) Atcording to

July The Industrial Rationalisation | September Council here, this cost compares Spot with Germany's, 3200 you, Reptember

tho United States 2,100 ych, a November

che production cost of coal in October

Britain's 2,700 yen.'

4.63 4.00 bld

*4.0 bla

3.70

3.03 motthal

5.85 nominal

4.13

CONTRACT. NO, 8.

Match The local industry”, banh, "nov | May. undercut Torölen Dituminous coal July.

September (because of freight charges), but | öpet anthracitic and coking coal munt

1

0.01 più

6,33 11

3.47 HEL

3.71-nominat 5,73 hornina).

5.05

United' Prem.