1952-08-12 — Page 9

66

THE CHINA MAIL, TUESDAY, AUGUST 12, 1952.

PIKE, D

MESSAGERIES MARITIMES PROTECTIONISM" IN U.S. ROYAL INTEROCEAN LINES

MM Washington Fears On The Tariff Issue

"GRENOBLE” "FALAISE"

Arriving Leaving

6

Sept. 4 Hept, Sept. 6 Sept. 21

Auk.

Aug. E

Aug.

Keelunt nun 11

•MEKONG" tongkoge Aug. 14 **FÉLIX JOYSÄEL” .......... Aug. 15

.....Sept. & Bept. COURSEULLES"

* For passenger and freight,

Outward For

Japan Зарап Homeward Por

18: atuer à tiróbá

Marselites Mia Manfik

N. Africa & Europe.

For freight to Salgon, Alplers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

via Marscules to all Mediterranean & West Africa Ports. Via Djibouti to Madagascar.

Subject To Change Without Notice..

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 26051 (3 linca).

E

Cut In Import

Licentes

Karachi., Aug. 11. The Takisid over ment faday hed almost fit the availago general number of open

Import Heences.

inanurred

piečèkogus, Jiito Foods, the cotton yarn were among -the main ilers removed

from the open list, Reuter.

Textile

LINES Show At

EVERETT ORIENT LINE

Fast cargo and passengers service refrigeration space available for Kurea, Japan, China; Philippines, Indo-China, Sinm, Malaya, Burma and East Coost Indian Ports;

"BRADEVERETT”

Arrives Aug. 18 from Manila..

Port Singapore, Sails

Aug. 14 for

Swettenhum, Penting, Rangoon

Calcutta.

"NOERVERETT"

&

Arrives Aug. 30 from Singapore. Sails

Aug. 31

for Japan.

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

EVERETT STAR LINE

Fast cargo and refrigeration spaces availablo for Korea, Japan, China, Philippines, Indo- China, Slam, Malaya, Ceylon, West Const Indian and Persian Gulf Ports. FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI"

If Port Loading Sails

Aug. 12 for Kobe; Osaka, Nagoya

Yokohama.

M.S. "NORDSTJERNAN" Arrives Aug. 14 from Japan. Sails Aug. 15 for Singapore, Madras, Colombo, Bombay, Karachi, Kharramshahr & Basrah.

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

EVERETT STEAMship corporatION S/A Queen's Building, Tolophone 31206. Chinédo Dapditment: Telephone 28293.

American Textile Industry Shows Signs Of Improving

New York, Aug. 11.

The American textile industry is continuing to show scattered, but significant signs of im- provement.

Plants, forced to close during the 16-month sot- back, are reopening. Others which curtailed opera-

Construction

B.I.F.

Industry Asked for Major Effort

London, Aug, 11. Every section of the British textiles industry is to make a being urged major effort at the Corona- tion Year British Industries Fair.

of

Europe May Be

Closer Ties

Driven Into With Russia

Washington, Allg. 11.

United States Government officials fear that European nationis will be driven into closer trade ties with the Soviet bloc unlesÿ the trend to- wards' trate "protectionism" in the United States is checked.

Président Truman is making, no secret, of his belief that the ten- dency in Congress to bow to the demands of domestic trade groups for more and more protection against foreign imports is damaging the na-

tional intérest

He feels that the increasing Insistence of certain domestic producera on higher tariffs on and limitation of foreign imports, if accepted, would lead to a disruption of economic co-operation between the United States and hör Allies.

Already, many

Europeón, more moves in other, irade úçlás Governments, Industrialists and to keep foreign products out of labour unions have lodged bitter the reach of the American con- protests with the United States sumer.

Sumer PRESS CAMPÁION nguinst the steadily-increased trade barriers sponsored American trade interests,

Their case is that the raising of such burriers 18:

A

of violation national cgeement in cases;

the 2. A

of negation principles of free trade to which the United States Government is committed; and

by

many

They belive that if the De mocrats are defeated in the and November, Congressional Presidentidictions, a Re- Administration would publican Inter-rece

bo

demands. ceptive to their

recent spate of

trade interests to by domestle tho Federal

Tariff for protection against imports, has caused many obser- vers here to think that these groups want security not only from unfair, competiiton but from any competition, no matter how small.

3. A dumuging blow to the

economic recovery plans of Europe which were encouraged by the United States through the Marshall Plan

The President and his Depart ment of State do not overlook the possibility that United States Sir Raymond Streat, Chair-

of Trade's refusal. to buy many of Europe's man of the Board

would most Committee products Working Textiles

Hikely cause European exporters to ch Exhibitions and Fairs, bos organiza-

look to

the Soviet bloe as an Bent a letter to the

outlet. tions represented on the Com mittee urging every section the textiles, industry to join in making a major effort at the 1953 BIF worthy of its great.Conference, at whichi, Western businessmen signed trade con- tracts with the Russians, in- dicates, they argue, the readiness of the Soviet Tinfob to cap(tülisé for propagandhi as well as decko- mic purposes, on the current

traditions,

The Committee

réconised that the textile industry was in the midst of a serious reces- sion and felt that, whether or not the situation might be or preclably better by the time next year's Fair, there was in in day case, much to bo gald

maximum favour of making o

most trude was. effort when difficult to flad.

The Textiles Worlding Com-

THE DANGER The recent Moscow Economic

situation trade experts. Héro are

Foreign very much alive to the signi deance of, the Kremlin-spired diference and the frustraian of many European businessmen In trying to earn needed dollars In the American market,

The Soviet Union would ob-

蟲 mittee also discussed what..viously benefit by such trade commendations should be made war, and would have scored an to the British textiles, industry initial victory in its project of the between participation in onlying a wedge regarding future British Industries Fairs. United States and her Allies,

that unless What is feared the Untled States opens its to Europe's steadily markets

Most of the nation's responsible newspapers, highly critical of the activities of the protectionists, are stressing the need for a two-way street in international trade,

They are hammelfah home the point that it jibetler to let Europe can dollars in trade than to tax the American citizen "hand-out in # frovide a folign Reuter,

ald

programmes.-—-

HONGKONG

SHARE MARKET

(From Our Correspondent)

Electrics, Lights (Old) and Trams were among shares most in demand, oh the Stock Ex- chingh, this morning, when a total of $350,200.70 worth of business was done. Noon quota

ions and the morning's trans- actions:

BANKÉ

luc Bank INSUR

ROTATION POLICY Experience over the last six years, said Sir Raymond, show-growing production, United ed that a major effort every States exporters themselves may a number of European year is more than the textiles and

on markets closed to them, industry can support; but,

Th of

Soviet

Would Union the other hand, the policy

obviously bencht by SUA alteration, by which the

trade, war, and would have dustry as a whole make a major effort every other year, created scored an India victory in a DOCKS serious difficulties for the Board project of driving a wedge of Trade.

between the United States and her Alles,

in-

there

a

The Committee had, tare, decided to recommend polley of rotation-in one, year the emphasis would be o plece gods' arid in the next on garments and fashions,

REAL CONCEIN

It is with real concern that the President, his economic, ad- visers and his Department of

SILIPPY

N... Whart

Plock Pravment Whe LAND, ETC.

If this met with approval it trade restrictions on Europe UTILITIES would not prevent a firm from political as well

chose, exhibiting whenever it but, the policy would tend

to thinking.

This concern

samo

for reasons.

us écohoffité neern is now belak even cut the "peaks and yol shared by big labour unions and leys in the demand for space the more responsfole business

the Fair, and, at the

organisations time, would absolve those who

mutual interest They are aware substantial expendi- that the United States, sells, to undert.ok ture after 1933 from being ex-Europe about two and half times pected to do so again for a fur-as much as it buys. They are not Ignoring European warnings that ther two years.

new restrictions on European

The 1853 BIF opens in Lan-

1.55

World Rubber Markets

Singapore, Aug. 11. Prices of rubber futures closed

today as follows

September

Number a rubber, per ib.

October

November Number a rubber.

·September Number 3, rubber,

September JANEI Number, rubber,

-September ....... Spot rubber, unbaled Blanket crepe.....

8711-33

073%-%

079-32

01-821%

2016-77

73-13

IFT-871

07-03

No. 1 pale crepe... 108-111

United, Pлu, NEW YORK MARKET

Now, York, Aug. 11. Prices of rubber futures closed today 35 points higher to 10 points lower with enles totalling 65 contracts. Prices closed today as follows:-

September October

November December

January (1053)'

Tobruary

March

April

May

June

July

August

September

Datober

Spot

20.83

30.21 Romindi 20.59 nominat

20.05 ild

23.04 nominial

28.32 nominai

23.00 bid

27.85 nominet

37.70 bid 27.60 nomins!

27.30 bid 27.30 nominal 27.10 cominal 28.50 nominat 30.75 -United, Press. LONDON MARKET

London, Aug. 11. Prices of rubber futures closed

today is follows:- "Number subber-

in pento per ib. September. October/December January/March Apr11/June

United Press.

Foreign

Exchanges.

In N.Y.

200 12.30 Canada

England-ometr

Australia

New York, Aug, fi,

US$3,04-11/IG 2.30-11/30

unoniclat

30-day futures 50-day futures

2.03 bid/ 2.50 asked 2.78-13/16 2.721 229:

3701

Land: (W) 4315

€3.25

43.25

195

New Zealand South Africa Belgium

Tram ****

16.80

2500 @ 19,90 !

100 10

Denmark France

Biar Fairy

West Germany

730-11/10

0020-5/18 4.20

Electric Macao Elde.

·Talephone »

Coment

200 # 5.00 4500 @ 22.20

Italy

Holland

Norway

1740 17.00

Portugal SOPH Sweden

C, Light (0) 8.70, 3.80 4000 8.70 C. (N) 5.00

INDUSTRIALS

STORES, ETC.

Dairy Watson

Clid. Macg.

don and Birmingham on April dollar-cornings would mean fess 27. It will last eleven.

(Ord.) days. orders from Europe with con- The Coronation id on June 2.sequent damage to American in- London Express Service.

tions sharply are resuming near capacity production. New Highs

facilities is

going ahead.

of some new plants and

of which were Prices, me slashed below profit margins in business a desperate bid for some months ago, are advanting on a fairly broad front.

and broadcloths Print cloths' have been selling especially well and prices are up'.

arc

Mill pestions generally reported greatly improved over

dustry and employmentt generally. These warnings have been par

Emoorium ticularly effective with American COTTONS cotton, tobacco and other major

On exporting interests.

Wall Street

New York, Aug. 11,

Stock Exchange prices touch-

hington officials are Washington Some

blame the "Buy Inclied to American Only advocates for much of the Soviet success with

the Moscow Conference of

Senator Warren

ed new high grounds but gave the Senate's Commerce Com- ground in inte trading, Indur-mittee Huntly,

Ewo

17.60 3050 17.40 Switzerland

26.80 37.10

9.20

35.50

༣ས།

4999.

'י.

MIDDLE EAST.

13.70 Exypi

ta.co

Iran

£0.80

Iraq

Turkey

LATIN AMERICA.

34401

0500

20.00

LONDON TIN

MARKET

Londan, Aug. 11.

Towels are up slightly. Many a few months ago. Most mills trials managed to hold a slight | éorsterence, dis described that j « THề fin märket - turned much

eloths have edged forward.

New York Sugar

Futures

anileipate active August selling for fourth quarter

war victory firmar it the morning. Turnover gain to reach the highest levels which he said, had been, hand-was 75 tons of which Ave tons the Kremlin by were for cash. Prices closed at since 1930 but ralts and uities ed on a p

the, ead of the official, morning protectionists. lost slightly.

the Ameet the talid 1,100, the AIR FIELD DAY sersion as follows Routine trading

special interest groups These shares. Of 1,080 Jesues demand for 000

traded; 389.advanced, 304 do-

for re-election Congressmen, up for nation's largest clined and 207 wore unchanged. had a field day in Influencing to support higher tits, fear, a

other, restalelive

schedule delivery.

The wool goods market re- porto improved.

Two of the

light-weight material.

producers of nestate glament Meteral Motors closing is higher

yarns have raised their prices,

IMPORTS UN

Corporation

of

New York, Aug, 11..

Celanese World sugar futures closed tiklay 2 lower to 1 higher with America raised its prices one to

four cents a

American Vi

sales totallingt 16 contacts,

ents. Three

at G14. Rail changes ranged trade legislation, for the benent

of domestic producers,

For example, the American

manu-

Spot tin, buyers Spot, a spliers Business done et.............. Three-months tin, buyers Three-months tin acilene Business doon at Satulombart

-United

Argentina

Brazil

Bolivia

Chile Colombia

Cuba

Mu

Pori

,000

.4025

1.00.4

Uruguay Venezuela

FAR EAST

Inclin

.2092

Pakistan

2030

Florikon

1708

3015

Şingapore

Jap

300 yeh to 1181 Unilda Préis.

Indooria

"THIBODA

"TJILUWAR"

"VAN HEUT#2" "THWANG STRANT

MAKASIAN" "TJFONDOR"

Jim B "TJIMENTENG” "TJHUWAH"

DEC702" VĖJISADANE. TIKAMPEK"

"TJIWANGI"

“TROELDENG“” "STRAATA

MAKASSAR

ARILYNGB

#

Aug.

10

Aug. 21

Bept..

Wept. 7

#

Sept. P

Sept. 10 Bept. 10

Sept. 17 Бар. Bept. 25

Oct.

#

Oct.

Oct.

Oct. 10

Oct;

Oci

12

"TJIBADANE" "THLUWAH''

Oct.

Det

"VAN HEUTEZ" "TJIBANTJET "TBODAS"

"TJIPANAS" "KDYS" "TJIWANGI"

"TJISADANE"

"TJIBODAS" "TJILUWA!!!" - VAN HEUTE "TJIWANGI

"BIHAATIK

Nov,

!

- Komarang.

'efframal,

Aurobala & Macassar Singapore, Djakarta, Semarang.

Hurabaia &" Macasine singapore.Djakarta, Lalembang Belawan Dell &, PenanÍTA KATA Binanduro,« jakostademarẳng,

Sutabala & street

demarang.

Piskarta, Thisbon,

Surabala Macassar Manua, «j«Singaporejsary Maurk --- Adrien-den-Americw・・・ P.. Poria, Singapore, E. & S. Africa Singapore, Pakarta. Semarang,

Surabala & Macasant, Japan - v.. おい!! Alugapore, Prong & Belawan Del

Semarang... Djakarta, Tjipp...

Hurabala i Madakar

Ringapore, Dialista Sem

Butabala & Kacántar

Japan

Mania, Singapore, Mauritius, Africa & 8. America Eingapore Fenant & Delawan Dill Máni, Singapore.. K. D 8., Africă Djakarta Threbon,... Bemarang,

Surabala & Machtiar Jap16 sspore plakarta.

Farabala & Macar Japan

Зарад

Singapore, bjäkäita.

Butabala & Macassar

ARRIVALS From

In Port

Aug. 12 Abr.

Abi. 20

Aur.

Sept

EZ

Semarang,

Simaráng,

5. Americ,,E, Attica

Maŭritids & Singapore Japan Macsar

Japan

Surabata,

Jakarta & Singapore

Macassar,

BuraRald;

Djakarta Bingapore

Semarang,

Bemarang.

America, B. Africa, Mauritius,

Singapore & Manila

KING'S BUILDING, Ground Floor.

TEL. 28015/18,

CHINESE AGENTS: £2 CONNAUGHT RD. C. TELS. 31190, 25133

MAERSK

LINE

FAST FORTNIGÈTÍY SERVICE TO:

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

NEXT SAILINGS

KANAN

MS. "HULDA MAERSK”

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

ARRIVALS FROM U.S.A.

M.S. "NICOLINE MAERSK"

MLS.

ANNA MAERSK”

M.S. "LEXA MAERSK"

Aug. 16 Sept. Sept. 15

Z

Aug.

Sept.

Oct.

For Freight and Further Particulars please apply to:-

AGENTS

JEBSEN & CO.

Pedder Building:

ייד

Tel. Nos. 36086-9,

Speculation Over

Effects

On U.S.

Of Steel Strike

Washington, Aug. 11. Differences of opinion among Government officials has caused confusion as to how badly Attericans will be hurt by the inflationary effects of the steel price settlement.

There was no question in the Government that the over-the-ceiling increase dictated by the Acting Defence Mobiliser, Mr John Steelman, will mean some prices will go up.

But what prices will rise, and Price officials pointed out, how much is the point of the however, that under the law, argument between the Econo- the OPS cant require distri mie Stabileht, Mr Rogu butors to absorb any cost nám. the Price Stabiliser, creases in products they coll Mr Elle Arnoti.

and in fact must give them the Stectman gave Betro Mr

pre-Korean percentage "mark- the steel industry a biste $5.20 ups on such ceste.

Inorease per ton, both Mr Put-

nam and Mr Arnall maintained

cause an

Grain Prices somewhat and

Decline

Chicago, Aug. 11, Grains were lower with other commodities, prices easing on

to. 1 Wheat closed today lower and soybeans were u changed to 14 lower. Prices closed toddly as follows: Wheat price per buzhel,

point either way. Oils lost widely in sorno cases but several higher prices cavered considerably from the lows, Slocis gained which include cheese car. Exchange Rates when for Corporation fractionally

Con- Contract No. 0 closed un-

Dow Jones averages, at the facturers, was able to get

Üldainers xả done in the local changed to 1 lower with sales announced increases of one to 12

other producers end of the sesalon stood nagreplonal approval for drastic

imarket this totalling 182 contracts.

import restrictions on foreign unofficial exchange ng recently boosted their prices. follows:

morning, at the following rates;--- 284.29 cheast and other dairy products, US dollar per 1

6,353 sources say mill, demand 30, Industrials.

*This caused a storm of protest sisting notes (per filin

10.04 for yarn has been picking up 20 Falls,

such 15. utilities

chèche-exporting pa- Indonesia.guidere. (per 100) ZES from and the industry is stepping up

Ejaz, ticale, (per 1001

31.00 40. bonds

Singapore,(BLINIC); ils operations.

21.65

Prices closed

follows;=

today

Contrácí No, ★ (wórias.*

September

Qctober

January(1953)

Murch

MAY

July

Beptember

Spot

4.00 bla 410 nominal 4.00 ง. 3 ป.4

3.50 nominal

JAN Captrict No. 0 September

November

cents,

Imports of rayon staple fibre, which fell away drastically à few months ago, are also re-

ba reviving

with "ported to

trade sources predicting the up trend will continuo at Icart

intil the end of year.

Importd them the path

5.5%-5.00

0.99

March

0.92 M

MAY

July

Beptember

371 nominat

Sweden,

Dipot

1.00

West

Preas

00%

104.40 50.97 08.77

1od Press

Tung Oil Pric

Price

tions

Swn, and the enmarc. plasties. (per 100)

When the

were coupled retaliation imports, big against American in United States -exporters took steps to protect theich own en- New York, Aug. 11.

alfa terests, and, under pressure: from Prices in the seeds and market cloned unchanged with President

Copra Quotation

Opot September December

March

MAR

Marel

Kro

Nów York; iti Cuper tvakt, quoita today at september

Truman, Collaborate short, toby somĭnál, | Onts ·

chubsu ly lead the list, followed by the following exception later modified the c

Cocoanut oll was quoted at 0% Spot Tung oil, in tank care, F. O. Bon the indications are that cents Belgium, Holland and

pound,minal. Associated New York, per b. 381⁄2 penie. But all Germany.

preparing United Press. the protectionists Uglied Prem.

September

$13.20/-United Press.

2334

aqd

The OPS is working out re that anything beyond $3 would gulations that would require

Inflationary spiral seme absorption of the bloc throughout the eccnomy.

increase by manufacturers and Since then, Mr Putnam bus other subsequent handlers apparently changed his vlows the manufacturing level,

10sg L

There is argument within the peo simistic that Mr All about OFS Itact us to how much., the consequences,

Price omcials agréo, that After the

settlement, prices

mitor-cars, for instance, Mr. Arnul said the direct and probable $10-$18 rise in cel indirect effects of the increase costs probably would hot bo, would raise the cost of living passed on to consumers, for the average American fami- ly by $100 per year. Some of his own price experts now modify this a littio

They said that, on the other

Increase wil hand, the steal shove up the prices of, military goods and many household and ISOLATION ORDER ather liems such as Alatware, Mr. Putnam sala that kilchen utensils, tools, machinery effects of the increase will not parts; hardware and other pro- be dubstantiaf at the consumer ducts where steel représents

could possibly the major production cost.

level

they

Or the $100 figure,

He sold,

simply, tint he was dot tamildt

with the arithmetic

Mr Putnam

Hop

United Press,

Instructed JAPANESE BONDS

London, Aug. 1L.

Me Amall to solato, the steel increase but Mr Artall and his staff are convinced that 18.15 Tapanese bonda plmont impossible, at least in!" {3. bf 1800] - fia long rửa

bond that

in, moon Me Putham sald areas, such as motor cars, the steel increase could be partial-

HCF (48, őt 1007)

"D" (of 1934):

"E" (8%. of 1934)

-140%

Unit: Press.

New York flour-per 200 lb Backly or wholly absorbed by matu- Consola

facturers and distributors.