1952-08-07 — Page 9

MESSAGERIES M

"GRENOBLE"

"FALAISE"

Arriving

THE CHINA MAIL, THURSDAY, AUGUST 7, 1952.

MARITIMES ECONOMIC

British Ministers

M

LeaVINE. > Outward, Wor

Aug. 27 'Sept. 1 Kurops ......Bapt. 14 KepL 21

Europs

Homeward For

:

†"MEKONG"

Reetung Aur. 10

Abr. 11

1 HongKonE AUE. 1

Aur. 14

+"COURSEULLES”

.....Hept. I

Aug. 1 → Sept.

N. Africa & Europa

•"FELIX ROUSSEL“ ............ARE, 18

For passenger und freight..

N. Africa & Burnpe Marscilics vix Manila

For freight to Salgon, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

-via Marseilles to all Mediterranean & West Africa Ports. -via Djibouti to Madagascar.

Subject To Change Without Nolice.

CIE DES MESSAGERIES MARITIMES

Queen's Building (gr. floor)

P.O. Box 63, Hongkong

Tel. 26651 (3 lines).

E

EVERETT

LINES

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

"REBEVERETT“

Arrives Aug. 8 from Singapore. Sails Aug. 9 for Jupan.

"BRADEVERETT"

Arrives Aug. 12 from Manila.. Saila Aug. 13 for

Singapore,

&

Port

Swettenham, Penang, Rangoon Calcutta.

(Accepling cargo for traanhipment Kobr/Punan 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 Poris.

FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI"

Arrives Salls

Aug. 10 from Philippines. Aug. 11

for Kobe, Osaka, Nagoya

Yokohama.

M.S. "NORDSTJERNAN” Arrives Aug. 14 from Japan.

Sails Aug. 15 for Singapore, Madras,

Colombo,

Bombay, Karachi, Kharramahalır & Basrah.

(Accepting carce for transhipment Kobe/l'uman and Kobe/Okinnus)

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Tolephono 31206, Chinese Department: Telephone 28293.

The Rubber Higher Trend

Markets

Singapore, Aug. 6.

Prices of rubber futures closed

today as follows:-

Number 1 rubber.

per 15. September Delober

November

Number 2 rubber,

September Number 3 rubber,

September

Number 4 rubber.

September

Spot rubber, unbaled"

Blanket crepe

No, a black crepe

DG34-87 80-% 03016-15 01'5-62

In Grains

Chicago, Aug. 6. Chicago grains and most major commodities showed a higher trend

the stemming from strength in soybeans. Wheat closed 14 to 2% higher ond soybeans were 62% to 7% higher. Prices closed today as follow-

Wheat-price per bushel September

704-704 Spot

7215-72 11314-41 07-60 ..... 100-174 -United Press.

NEW YORK MARKET

December March

May

Corn Spot September Déceniber March May New York, Aug. 0. Prices of rubber futures closed

nyo today 40 to 59 higher with sales spot

September totalling 69 contracts.

30,40 bid

September

October

November

December

January (1033)

February

March

April

May

June

July

August September

October

Spot

27.03 bid

20.43 nominal

29.75 United Press.

LONDON MARKET

London, Aug. 0.

Prices of rubber futures closed today as follows:-

Number 1 rubber, in pence

per th.

September

October/December

January/Marett

Apr/June

DALE Spot September

2.232-2.27

2,411-2.42

2.41)-2.47 2,473-1

1.0445-12

2.0835 2.0912

647%-001% 0014-14

New York four-per 200 lb. Sack. $12.10.United Press..

Cotton Crop

· In India

New Delhi, Aug. 6. India's XD52-53 cotton crop, may reach 3,000,000 bales, Bardar Datur Bingh President of the Indian

Central Cotton C

told tho ahnual

of the group,

"Given normal monsoon target is very rains, likely to be achieved this DAKON, he declared

June

pells dry Khandesh and Hyderabad darkened the picture

Hay, he added. But the

favourable outlook in this major cotton growing Bialen of Ahe Punjab, Vitar Pradesh, and Madaya Bharat sets as a balancing factor-Associated Press,

Demand By Empire Chambers

Britain Should Quit

CONFERENCE ROYAL INTEROCEAN LINES

Considering Policies

SE Asian Countries' Efforts

To

Balance

Accounts

IFROM OUR OWN CORRESPONDENT)

London, Aug..6.

British Ministers are now considering the policies to be put for- ward by the United Kingdom at the forthcoming London, economic con- ference of Commonwealth Prime Ministers.

Similar discussions will take place between the Finance Ministers of the countries taking part," and their proposals will be considered by officials of the governments concerned when they meet here next month to prepare the agenda for the full conference.

Meanwhile, the efforts of the self-governing Com- monwealth countries of Southeast Asia to balance their external accounts with the rest of the world by the end of this your are examined today in a leading article in the "Financial Tumos.”

Shipping Industry

Slump

Washington. Aug, 6.,

SAILINGS TO

| "BIRAAT BANKAS AUDI8.

*TITJALENGKA”

"TJIBADANEW "TJIBODANTMTM

"VAN DEUTÉZT.

"STRAAT

MAKASSARM "KINDAPPET "TIONÉSEVADIET

"TASMAN" *TJILUWAR*

"THBADANE" TIKARIYER

"TJIWANDE"

"MAKASSARP

AVE. $

Aug. App. 14

·AJE. 19-

Sept.

Oct.

"TEGELBER(" "VAN HEUTZ" "STRAAT.

Oct.

DCL

Oct.

Ort.

14

+

13

2 Nov.

PENDOPAS

“EJLUWAR”.

“TJIÐANAS? "TIWANOF"

"STRAAT DANKA" TITJALENGKA“ TISADANE” The shipping industry is

worldwide slump. "ramBODAS"

A

TJLUWAH"

1 Oct.

Diana, Djakarin, Balawan. Dell,

Tanen) Zanzibar,” Dares-SATRADO, “B” An As." America Singapore, Mauritius, 8. Africa &

A. America dapati Djakarta,

Tlieben, Bemarası

HUTAITAJA "Stackkar.

Bingapore)) Djakaila Tomarang

Buranala & Machtsar

Almexpore, Pinang & Defawan Doll;

Singapore.

Surabala Macassar

JABAD

DOJAKÄYLA,“ TJIHDON.

Surabais & Macassar

Cemarang,

Manila, Blogsporo Mauritius,

8. Africa 48: America Sapan

Singapore, Djakarta, Remarang

Garabala & Macassar

Bingapore, Penang & Belawan Deil Djakarta, Titrebon,

Surabala & Sincassar Singapore, Djakarta,

Bemarang,

Bemarang,)-

1

Burabala & Macessar

Japan Blogapore, Penang & Delawan Dell ATKUNAR Bingapore | Mauritium.

# Africa 8. America Djakarta

Semarang

"Balabala Macassar Bingapore, Djakarin, Bemarang,

Sarabaių "Minentiar

JAPRD

Singapore, Djakarta, Велзаганя

surabala & MacaSÍAT

ARRIVALS

In Port

In Part

Aug. 10

JRDME. Зарад

5.America, E

Froz

Africa,

Mabriti di Singapor

Aug. 11 Aug. 11

Зарад

Atacassar. Burabalu, Semarang,

Djakarta & 'Singapore

AUT. 20

Japan

TEL. 28015/18,

When the decision was taken, countries to stem the increasingly at the January Commonwealth heavy flow of imports, and thero | in economic conference list pay was equal relittance abito induced by decreages in menta ed each intanber of the export taxes and other restraints United States foreign aid, { "van beutaz" Sterling Arta chould be in over- upon commodity males abroad all balsace by the second half of

increased foreign production 1053, the paper mys, the COLD-

BECOMING AWARE

and continued dollar KING'S BUILDING, Ground Floor, trics of Southeast Asia which

officiala CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS, 31180, 25133 Fortunately, however, there are shortage abroad, aro now running a deficit muy have thought they had a certain now signs that the Southeast Asian said today.

Commonwealth, countries org amount of slack in band.

One high-ranking Federal These

countries Paleistan, becoming aware that merely een-shipping official said United India and Ceylon seemed then, ging existing policies may not States shipowners are feeling and for some time afterwards; be sufficient to unnally them to the pinch hardest. The chip- Funware of the stent to Johlevo an overall balance by the ping industry is subject to such which they would need to ro second half of this year.

Pakistan and India

have stumps, but this one is a little London, Aug. 6. shapo their external policies in

certain expor

port duties, and more drastic than normal," he an overall relaxed Pointing out that Japan order to achievo

the Finance

Minister of Ceylon added. balance.

has promised do Investigate com- has now asked for admission

been They may have to the General Agreement couraged to believe that no plaints that existing export taxes. on Tariffs, the Federation of urgent action was needed bere having damaging elfesta on British Empire Chambers of cau in the preceding period the export trade.

they had made no drawings on Commerce stated today that Sterling released by Britain from Britain shoukl cense to their blocked balances for the purpose of financing payments belong to GATT in its pre-burp Fancial Times

Tariffs Pact

sent form.

The Federation asked its members to campaign in favour of Imperial Preferences and sent a letter stating its views to the President of the Board of Trade, Mr Peter Thorneycroft,

The Federation considers, sald the statement Issued by the Chambers of Commerce, that as a result of GATT. Britain has completely abandoned its right to promote trade within the Empire by increasing preferen- tial rates or by introducing new preferential cates,

Stressing that Japan had now esked for admission to the Tarifs Agreement, the Federa- len Bald that the problem of Japanese competition had been discussed at the 17th Congress of The Empiru Chambers of Com- merce in London last year.

It was recognised, said the statement, that if Japan became a signatory to GÅTT, there would exist, a serious danger that other countries could not, because of the agreement, pro- tect themselves against unfair competition

prices. at low Fratice-Presse.

Foreign Exchanges

In N.Y..

New York, Aug. 6.

US$1.0

2.79-7/10 2.57 bid/ 3.00 asked 2.7812 2.7716 2.23%

Canada England-official

unoMelal

30-day futures DO-day futures

Australia

New Zealand

South Africa

Belging

Denmark

France

Norway Portugal Spain Swoien

hit

Jacques Bramhall Jr., mana- ger of the export division of the World Trade Department of the Commerce and Industry As~ svelation of New York, denied The "question, the paper says,

that there is any worldwido now is whether the problem is

alump, but agreed that United being attacked with suficient speed. Becau.c

States shippers have been hard Vigour and normally they would have been expected to run. payments de-

The American shipping in- tho ficita

dustry, he said, is feeling equivalent to the periodic Very little was done after the releases

their

competition from Mom

blocked pinch these Sterling balances,

Pakistan, nations the United States hay. India and Ceylon may foel they helped back on their economic are entitled to more latitudo in feat since World War II

Government und in interpreting the Finance Minis

Indusky officials hehe insisted, however,

continues

London conference by

HONGKONG

SHARE MARKET

There

recommendations than that the

other members of the Sterling Arca,

But

the operation of the European Payments Union is now liable to mean that even

the Sterling Area deficit with soft currency countries will to translated into a gold and dollar. loss.

"Deficits of the order shown

(From Our Correspondent) by the Southeast Asiat coun- wpd an increase in tries," the journal concludes, business on the Stock Exchange "are therefore liable to be just as damaging to the position of this morning, with total turn- over at $434,844.36. Trams, the Sterling Area ni Australia's Providents, Lights

Old and huge deficit was in the caller Watsons were most in demand, part of the year.". Noon quotations and the morn- ing's transactions:--

SHARES DUYERS BELLENS SALES

IK Bank.... 1970 1965 BANKS

141

East Axin INSURANCES

Union73711 745

SHIPPING

Asia Nav DOCKS, ETC.

K. Whart

£55

N. Pt. Wharf 6. Dock

16.30 18.00

Provident... 12.30

S'ha! Dock .. 1.00

Wheelock...

LAND, ETC.

HK Hotel

400 @ 37

1500 12.40

2000 12.30

Activity In Cotton Market

Slackening

Now York, Aug, 0.

of

They belle was worldwide. that the situation will improve this Autume, when coal shipments by sea increase. but do not piedict that the in

dust. Korean boom levels.

will climb back to the

Ly

In New

New York shipping indus representatives ald the stump do the worst since just before the outbreak of the Korean war in June, 1850

THE REASONS

- One broker said a ship can be

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

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

ARRIVALS FROM U.S.A.

M.S.

TREIN MAERSK"

M.S.

PETER MAERSK”

M.S. "NICOLINE MAERSK"

Aug. 16: Sept. Sept. 15

2

In Port Buoy A6

Aug. 9

Aug. 30

For Freight and Further Particulars please apply to:

AGENTS:

JEBSEN & CO.

Tel. Nos. 30066-9.

Increase Forecast

chartered for a run-ante Pedder Building round trip for $34,000 how com- pared with $75,000 a year ago.

Government and industry officials cited several reasons for the shipping declines. For the past two years, Congress has cut foreign

aut appropriations. Ad- ministration officials said this has acted to continue the dollar одат shortage abroad and prevent friendly nations from buying the 'song American goods. At time, foreign nations have raised their own production-particu

Cotton market activity slacken-larly of coal and grain which re- 250 @ 12.40 od today. Prices backed and quire large amounts of shipping

space.

This has cut down the 42 42 000 1211) filled over moderate limits but

needs for importing American showed an overtone of steadi-products and using Americaa

shipping

4014

lk Land (0) KK Land (N) Shat Land.. Humphreys.. UTILITIES

Trem.... Star Ferry C. Light (0) 0.75

100 203

C. Light (N) 5.80 Electric. 22.20 2215 Meczo Elec. Telephone. 17.30 17.60

10

INDUSTRIALS

Cerment .....

17.00

.18.0

2.7874 2.00.11/10

STORES, ETC.

Dairy Watson

Crawford

01901 .1455 .0020-1/10

C. (Rs.)

COTTONS

........ 2.45

100

700

1111

500

1.40

0.60

4.00

17.70

LONDON TIN

ness.

In Foreign Trade Of United States

New York, Aug. 6." American imports and exports may increase

in the years ahead, Government and trade sources

market edged above the previous tendency factor has been a predicted.

ovor as tradera

the get

ready for the Government crop report on Friday,

to increase United

The conslocation is in

line with

the Accision last month of the geceral engineer- ing arms which threw claim for a 22 a week rise for about 2,500,000 workers. ·

out a

After the opening decline, the 145 1000

A survey by the Federal Reserve Bank of New close and floated there for the States tariffs, posing new bag- 15.40 19.50 4700 @ 10.00 rest of the day. The fallure of rlers to imponts of foreign goods. York said both volume and value of imports may

7750 10.59 overnight showers in the Eastern

Administration The

arise in step with, or slightly ahead of, American 0.30 belt sections and parts of the that this polley tends to continue

Texas dry areas to bring in the dollar shortage abroad and income. more realising strengthened the President Truman has ordered 40 bullish confidence.

That in Investigation. United Press.

income bas reached, placed by a number of coun- record rates this year and, aside tries, cepeelally in the Sterling Technicians belleve that Tues-

DEMAND, REJECTED from effects of the recent steel Area, have declined substanTM day's decline came at an oppor-

strike, is expected to continue tially, London, Aug, 0. bune time and that the ranrket

Among campaigns to sell mora British shipbuilders and ship upward. Personal income in the was in a better position as a re-

rejected trade US, from January through May goods abroad is one to increLSE Hult. Signs

of broadening in repairers today

rate of 203 anies of American was at an annual

consumer In union demands for pay rises for 10.30 terest In textiles, nius

billion dollars, six per cent above goods in forem department flationary sentiment, helped to 200,000 shipyard workers. 25.00 Humo

The amounts the ualons ask-the same period last year.

Felix Lilienthal stores. future 14.00 shape market sentiment. Usually

import Co Concerning

Co., a buying organizator, plans not disclosed, but 25.70-accurate ring

WCTC.. observers supposed

study clies the to increase basic new order said prospects, the ources that the market may see-saw usually rellablo

widely-held view that crude and volume by five million dollars and even develop inoments of they were

soml-manufactured materials and during the next two years. The Auctuations Hittery

crude foods tend to make up an firm has clients in a score of next few days

share of American Increasing

countries including Egypt Aus- observed, however, imports. It that relative price movements wage, The Philippines, British Indies, Canada, South are an important factor in de- This was the biggest pay risetermining the volume and direc-Africa, and Latin American

nations.

The company's export director, demanded in the history of tion of trade. Britian trade union-management The malyala impostat Bernard Hecht, said representa

analysis of de

tives will be sent abroad to negotiations-Reuter.

pro- Wastern European nations

mote ter

items which have sold weit ample

10 opportumilies strengthen their position in the in this country, particularly American murket if they pursue those having strong appeal be

cause of American styling and pecies which will pot their

newness. At present, the com→ experts to compete in price as

200 export well as quality, with American Pany has more thon products. Prices may also play accounts, mostly in chain organi-

sations.

Tienta which will be featured, of primary products, the survey Mr. Hecht cald, will include a sald

wide variety clothing, acces- American exports, apart from

by the solida nad household wares, shipments Ananced Mutua! Securlly Agency, are some of the items will be made from the newly-intruditerá now reported to be levelling off, and sme trade sources predict whthetic fibres, such as eelon decrees nid dynel, Applicand a decina Inter this year. But wall tripludo stoves, refrigerators drives are being gunched to sell and washing machines If there more American modicis bread. is femoral for St. Mr Heacht add

DECLINE IN ORDERS

MARKET

1.80

1.32 -1.8214 9.78-13 1.033

West Germany

4.20

1303land

.2037

Italy

-0010

F

-1405

.0370 .9565

Ewo

.0035

Switzerland

.2320

Middle East

Egypt

2.0012

tran Iroq Turkey

.03125

3.7015

.5375

Latin America

Argenting

0040

Brazil

.0300

Chile Colombia CUBA Mexico Perit Uruguay Venesuela

.0085

Spot tin, buyers

0:30

Spat tin, seliora

D3

1.00

Business done ai

£31

.1103

Three-months tin, buyers

3:30

.0048

Three-minths tin, sellers

034

3050

Business done at

.2003

Bettlement

93)-RZO 011

-United Press.

Far East

Pepper Market

Easier

Bolivia

New York, Aug. 6. The pepper market ruled quiet and easier today reflecting the lagging of refiner and dealer demand. Delivery complications India arising out of the recent rejec- | 'akistan tion of several thousand tons Hongkong have been a stumbling block to

20-3612

2541-20

2514-1

2415-44

231-24

new business.

United Press.

Dealers reported that offerings of Lampong pepper were at re- Septem- latively lower prices.

Singapore

Japan

ZINC, PRICE DOWN bor shipment of Lampong was JAPANESE BONDS

reported avaliable at around New York, Aug. 0. |$1,60–$1.51, October $1.45 Custom melter interests today $1.46 a pound, all en un ex-docic cut the zine price 14 cents to basis. Spot. Malabar was in- 131⁄2 cents a pound.

dicated at between $3.78-$1.70, The spot market weakness was stocks awaiting release at $1.74, reflected in the futures market afloats $1.87-$1.60, July chip- where pelage dropped one cent a ment-1.03 $1.64, Aurumuz 61-- the daily fermasille 661.60 and September. $117. pout,

mitUnited Pres

-$1.40 a pound.United Press,

London, Aug. 5. The tin market had another precipitato fall in prices, with turnover of 85 tons. Prices closed at the end of the official morning session as follows:-

Exchange Rates

auong operators.

A good part of today's trade appeared to originate local professional Miljs were buyers. on reactions while commlision bousa brok-

TO Tuesday's era stood by after

action for a new, look at the The average of the

picture.

ave silmates was now 15,425,- New York Stock

000 Bales The average guess

of 87 members of the New York Cotton Exchango was 15,850,- 000 Lales. The highest guess

was 10,600,000 and the lowest 1,430,000 bales,

Exchange

have

New York, Aug. 0. Prices on the

but wide- points. It edged up irregularly spread advance with demand to gains of 25 to 20 points and picking up ea ples Ormed. closed 2 to 10 points higher.79

totalled 140,000 shares.

Trade Prices closed today as follows: Of

41.50 nominal vanced, 319 38.13-30.44

The market opened of 1 to 11 scorod a fractional, Nichaus, I of "r role in futurò imports |

3015

5205

yen to US$iunoillela).

Business was done in the focal

exchange market

this

morning at the following rates:-

VS. dollar, (per #1)

6.385

Sterling nata (per £1

15.TUO,

Indonesia gulidore (per 100)

201

Брот Deliber December

Binganore (Stralis)

Biaticals (per 1001

31.00

IC plastres (per 1001'

1.74 11.773

July

London, Aug.

"A" (43. of 1000)

October Desem

BL.

.00

124

01

17418

cents for August apt was of July

December

boited Press.

Japanese bonds

* (48. 01.1910) *CH (4% of: 1907) p(8s. of 1034)

·JE (5745, of 1934). Consels

28.05

Copra Quotation NEW ORLEANS MARKET

New York, Aug, 0.

Spot

Copra was quoted today at Pober

$192.50 per stort ton, nominal. | March 7 čload) *** Cocoanut oil, was sold at nina May:

674. fored 8% cents for September United Press.

wero

**

ad-

304

Olls were, generally higher in fractions to over-a-point, Steels and motors were inactive. Utili | Lick work higher in the averages,

reaching now high ground.

Dow Jones Averages at the end of the

35.97 bld United' Prem

40.16

follow ussion slood- ipa $144-330 30 Industrials.

United Pres-

30-Rails

| 15 |Utilitlenr

40 Bends

shipments in Janu, ed, they will handle food lines arg and February this your aspects of the

American

One of the moct.. Importans.

were about 25 per cent above Me Hecht said programme,

the same months last year. In

March, the "riss was around 11

will be

0:07 per cent."" In April, shipment chef American mer-

103.73 53:12

pped blighty below the month

gand display methods.

said the company, "plans'

to get around current currency

a year ago, and in May they exchange, dimeultira thaigh" vác 08.03 were about even. Since then, of third-party agreements.

exporters report," new orders | Asscelated Press,

United Press,