1952-08-15 — Page 9

THE CHINA MAIL, FRIDAY, AUGUST 15, 1952.

MESSAGERIES MARITIMES MORE

M

M

"GRENOBLE" "FALAISE"

***MEKONG"

**FELIX ROUSSEL"

Arriving ICRYING

Outward For

Sept. Sept. B Japan Hept. 10 Rept, 21

Japan

Homeward For

M. Africa a Europe

Aug. 14 ....Abr. tn .Bapt.

Aug. 19

Avg. Bent.

18

N. Africa & Europe Matielles via Manli

•

For passenger and freight.

1

"COURBEULLES"

For freight to Salgon, Algiers, Oran, Tangier, Casablanca, Havto, Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

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

Subject To Change Without Notice..

CIE DES MESSAGERIES

Queen's Building (gr. floor)

MARITIMES

P.O. Box 53, Hongkong

E

Tel. 26661 (3 lines).

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.

"NOERVERETT"

Arrives Sally

Sept. 3 from Singapore, Sept. 4

"REBEVERETT"

for Japan.

Arrives Sept. 10 from Manila.

Sails Sept. 11 for Singapore, Penang,

Rangoon & Calcutta.

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

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

FIRST CLASS PASSENGER ACCOMMODATION M.S. "NORDSTJERNAN"

In Port

Loading

Saile Aug. 15 for Singapore, Madras,

Colombo, Bombay, Karachi, Kharramshahr & Basrah.

M.S. "STAR Arcturus"

Arrives Aug. 23 from Singapore Sails Aug. 24 for Kobe & Yokohama

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

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

M.V. "FELIX ROUSSEL"

Will sail for

MARSEILLES

via

MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ & PORT-SAID

on

Monday, August 18, 1952

at 9 p.m.

Passengers are requested to board the vessel with their cabin baggage on the 18th August between 4 and 8 p.m.

Baggage Room and Holdy Luggage will be registered at Kowloon Godown No, 50 (No. 2 Gate, Canton Road Entrance) on the 16th and 18th August between 10 a.m. and NOON only.

No baggage will be registered after the time indicated above

Compagnie des Messageries Maritimes Queen's Building.

THE

"POST"

TYPHOON

Tel: 26651

BUSINESS REGULATION ORDINANCE

1952

MAP.

incorporating amend- Copies of the prescribed

monts

to the Local Forms 1 (a) 1(b) and (c) and Non-Local Storm Bignal Codes.

Now On Sale at $5.00. Mounted *Unmounted $4.00. Obtainable from

SOUTH CHINA MORNING POST HONGKONG and KOWLOON

S. C. M. Post, Ltd. Hongkong and Kowloon

STABLE ECONOMY ROYAL INTEROCEAN LINES

Brighter Picture Outlined In New Delhi

Talks On Rice

Postponed

4.

Bangkok. Aug. 14. The Thalland Government las postponed until Sep-

discussions withs tember

countries. rlee-purchasing which include South-east Asian terrilötiek, over allo- callous for the last quarter of 1952,

The talks had originally .mid- been planned for August. Officials said they had been postponed be. cause of the inte rains, These meant that reports crop on the present rlee Drospects were incompleto

yet allow and did not review of the 1952 balance available for export- Reuter.

Japanese Foreign

Currency Balances

3

Improvement Noted

Tokyo, Aug. 14. Japan improved its foreign currency balance considerably in the first half of 1952, statistics of the Bank of Japan showed to day.

The balance of foreign cuc-

of rency accounts at the end June stood at US$1,101,000,000 $914,000,000 Ls compared with at the end of last December, or a net gain of $247,000,000,

Of the Total $671,000,000 was in dollar accounts, $355,- 000,000 in Sterling accounts, and $135,000,000 In open ac- The increase was at- counts. tributed mostly to larg: dollar in Invisible trade, receipts which jumped 29 per from $387,000,000 to $500,000,- 000.

Allled Payments from

went forces

up $205,000,000 over the Orst half of 1951.

Big Improvement

Expected

In The Next Few Months

1

New Delhi, Aug, 14,

India's economy is still in the red but is getting more stable all the time, Government economists report.

Outlining prospects for the rest of 1952, a Finance Ministry review says the country has passed its toughest post-independence tests and "the position is likely to record a considerable improvement during the next few months."

The study lists a balance of trade deficit for the! first five months of the year totailing 1,630,000,000- Rupees, a continuation of the adverse trend in the last half of 1951.

Sterling balances also dropped Jute mills are well stocked as in the first slx months, from the result of increased domestic 7.810,000,000 Rupees to 6,830,000,- | production. 000 Rupers.

But food grain imports from abroad will put dig deeply into India's foreign exchange spend- Ing in the remaining months of the year, the report continues. Mar will raw eatton at raw juft Imports,

Large raw cotton imports since the beginning of

the year have built up substantial reserves and

favourable Indian crop reports make the picture still brighter.

HONGKONG

SHARE MARKET

(From Our Correspondent)

An increase to $192,828.75 in the volume of business done on the Stock Exchange this morning was mainly caused by 209 shares of the Hongkong and Shanghai Noon Bank changing hands. quotations and the morning's transactions:-

SHARES BUYERS SELLERS SALES

BANKS

HK Bank... 1415 INSURANCES

Union DOCKS, ETC. IC. Whart

269 g 1415

5 / 1418

750

10. எ

795

8734

cent

N. P. Wharf 3.65

500 @

G

Dock

101

Provident

1115

S'hai Dock

1.70

Wheelock

4214

43

LAND, ETC.

alk Hotel

6.30 6.45

Н

IN 431

&

1.40

The report pointed out, how- ever, that a basie Imbalance sul persists in Japan's Arade pleture-over-dependence on the dollar

for imponly and of the Sterling predominance Area for exports,

aren

MAY ASK LOAN

The Japanese Government may ask the International Banke for Reconstriction and Develop- ment for a loan of $20-30- 000,000 to help develop the in- tion's electric power resources, Kyodo news agency reported 10- day.

The Japanese request, Kyodo sald, may be made to the World Bank around September 3, when a plenary session of the tilerna. tional Monetary Funt is to be held in Mexico.

in the

戰

Shal Land..

40

Humphrey's 11.20

UTILITIES

Tram

P. Trac (0) Star Ferry

18.00

110

In addition, Government restrictions have been eased with un eye to increasing exports.

DUTIES ABOLISHED

Not only have many export duties been abolished, but larger quantities of cotton. vegetable oils and wool have been licensed for export,

Licensing restrictions on Jute manufacturers and cotton tex~ tiles have been relaxed.

FOREIGN EXCHANGES

IN N.Y.

Canada England-oMelal

New York, Aug. 14.

unoficial

New Zealand

Bouth Afrien Belgium

US$1.04.5/32

*2.70%*

2.54 bid/

257 asked

+1

30-day futures

2.775

Austria

00-day futures

2.701

2,23%

2.78

2.2014

01001

Denmark

. .1459

.0028-9/10

West Germany Holland

420

2037

.0018

1403

0370

.0035

France

Italy'

Norway

"Tu

n certain extent, the adverse trend in our balance of payments position during last year and the first part of the

Portugal

pain

Sweden

current year constituted a recti- Switzerland fication of our $70,000,000 Rupees | MIDDLE EAST surplus in 1050," the review contends.

Egypt

2.381

"That surplus was built up at considerable sacrifice. Large | Turkey exports of cotton textiles in that

had begun year scarcity conditions in the country and the fall in the stock Bratti of food grains together with the

of harvests fallure

Iran Iraq

.03125

2.7919

4376

to produce LATIN AMERICA

Argentina

0340

0300

Bolivia forced Chile

Colombia Cuba food

Mexico Peru

0085

1000

1103

0844

.2005

ta Government

reduce rations."

American and other foreign Uruguay food grains cost India 1,230,000,- 000 Rupees in 1948, 1,110,000,000 FÅR EAST Rupees in. 1940,

850,000,000

Venezuela

Rupees in 1950, and 2,290,000,000 India Rupees in 1951-Including Brat Pakistan shipments of the U.S. wheat loan.

KICE FROM CHINA

India will import 737,000 tons

of rice in 1952, including 100,000 tons from China, 420,000 tons from Burtna, 100,000 tons from Thalland, and 37,000 tons from Pakistan.

The prices and financial out- lay involved have not been disclosed. Wheat stocks are

19 1600 @ 18.50 satisfactory for the present, the

C. Light (0) 8. 8.00 200 8.70

C. Light (N) 5.00 Electriu

Macao Elec.

22.02.

Telephone: 17.30 17.00 INDUSTRIALS

report

2030

**TJIBOUAS **TJILUWAII“ "VAN BIZUTAZ“

"TJIWANGI"

"STRAAT

MAKASSAR” **TJIPONDOK"

"BOISEVAIN"

"TJIMENTENG"

“JUWAH"

"VAN NEUTA2" **ISADANE” "TJIKAMPER"

**THIWANDI"

"TRGELDENG "STRAAT

MAKASSAR

BAILING B

Aug. 16-

Aut. 11.

Aug. 21

Sept. 2

Sept. Sept. 7

Repl ·

Djuhurta,

To

Nurkkala & Macuseni kingspare, Jakarta. BOMATANE,

Hirabaja & Macauat

Ringsporo. Djakarta, Palembang

Delawan Dell & Penang

Singapore, DJakarta. HEIMATARS.

Surabala de Macassar

Зарад

jjakarla. Titrebon, Semaratz.

Hurabala & Macaist

Mandin. Singapore, Mauritius

8. Africa & America P.1. Porte, Aingapate, R. & 8. Afrlea Singapore,

Surabala & Miennikar

Japan

Singapore, Penang & Belawan Dell Djakarta, Tilrabky,

Surabula de Macassar

Semarang,

Singapore, Djakarta. Hemarang,

"Bursbala & Micariat

Jipan

Maba, Singapore, Maurita,

Bept. Rept. 14

14

дере. 17

Sept. 1

Bept, 21

Oct.

t

Oct.

Oct.

Oct,

10

10

Oct..

12

"TJISADANE-

Oct.

"THLUWAII"

Oct.

Bingapore,

OTJIPANAB" "NUYS" "TJIWANGI

"THIANAB"

Oct.

37

Japan

Oct.

Экра

Nov,

Nov.

"VAN BEUTAZ”

"THIDANTJET" "TJIBODAS"

"TJILUWATE"

"VAN HEUTSZ" *"TJIWANUI" "BTRAAT"

120

a. Atelen à 8, America Singapore, Penang & Belawan Dell' Manila, Ringanore, E. & 8., Africa

TJirebo, Jakarta,

Nurabala & Macpisar

Japan

Djakarta.

Forabala & Macassar

Semarang.

Remarang,

Singapore. Djakarta. Semarang,

Surabala & Measur

Djakarta Bemaring,

Macavear

ARRIVALS

Burabala

From

&

Mutassur Butabala, Bemarang.

Djakarta & Kingapore

Sept.

MAKABBAT" #TJIPANDOR"

in Port

Aug. Aur. 29

3

Sept. H

་

Japan

"BOISELVAIN"

Sept. 7

Зарап

Kurabata, Semarang.

Djakária & Singapore

R. America, 8. Africa, Mauritiur,

Ringapore & Mania

Japan

KING'S BUILDING, Ground Floor,

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS, 31190, 25133

MAERSK LINE

FAST FORTNIGHTLY BERVICE TO:

NEW YORK, NOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "HULDA MAERSK"

ARRIVALS FROM U.S.A.

M.S. "TREIN MAERSK"

M.S. "PETER MAERSK"

Hongkong

Indonesia Singapore Japan

30 yen to Usti

-United Press.

M.S. "NICOLINE MAERSK”.

M.S. "ANNA MAERSK"

M.S. "LEXA MAERSK”

Grain Prices

In Chicago

Chicago, Aug. 14. Grain

the futures joined O states, Except

In 1950, Indin's balance major commodities

in an ir- 2000 4 8.50 of payments position-computed regularly lower trend.

Wheat 000 of 200 by

bulance and adding trade 100 22.30

closed higher to % lower and "Invisible" receipts," then sub-

soybeans were lower to 1⁄4 tracting Sterling balances used

Ceinent. Roth STORES, ETC.

Dairy

17.40 17.06.

B00 19

Watson

10.70 18.00 2030 27 500 500

L. Crawford COTTONS

Ewo

*

216 MISCELLANEOUS

Yangisze... 58.10

has remained adverse.

"The dedell ̄ran"from"630,000,-

higher. Prices closed today as

follows:

000 Rupees in 1948 to a high of Wheat-price per bushel 1,350,000,000 Rupees In 1949 Spot 2000 before 1950's surplus. Atter de-

September

March (1953)

Carit

ducting credits for the proceeds een fix of the U.S. wheat loan and May World Bank loans, the 1851 de ficit reached 300,000,000 Rupees. September

Inventory recessions in the

H22 1 December U.S., the Finance Ministry

Mareli (1953) review declares, set off an early tay

2

Aug. 17 Sept. Sept. 15

Aug. 30

Sept. 10

Oct. 3

For Freight and Further Particulars please apply to:--

AGENTS:

JERSEN

Pedder Building,

&

CO.

Tel. Nos. 36066-9.

The Rubber Weekly Bank

Markets

Singapore, Aug. 14, Prices of rubber futures closed today as follows:-

Statements

London, Aug. 14.

The Bank of England state- ment for the week ending August 13 reads as follows:-

Pubile deposits Private deposita

3.31-1.51

2.41 1.00-7.4576 2.40

the Spot

September Oxta

1.0034-1.0234 1.80 1.70-1.754 1.BO 1.8131-Tá

2.0111-16 2.13-1.14

Number rubber, per ib.

September

October

November

BOTS-873 07-07! 0032-07

Notes in circulation

Number 2 rubber, Septem-

ber Number 3 rubber, Septem

ber

8112-

76-701

Other securities Receipts

Number 4 rubber. Beplem-

ber

Bank allo

019-72

Spot

1 September

New York four-per 200 tb. Sack. $12.20.-United Press.

Spot rubber, unhaled Blanket crepe No. 1 pale crepa

3816-07

6012-6734

100-111

Cotton Price 1949 recession in Indian exports. Rye

Fund In New York

Japan's participation International Monetary will be officially permitted after the Japanese Ambassador Washington, Elkichi

to

Araki, signed relative papers on Thurs- day qualifying Japan to apply for World Bank Jeans.

Meanwhile, Kyodo alio parted that the Prime Minister, the Yoshida,

and Shigeru Finance Minister, Hayato Ikeda, latter should the agreed that attend the IMF plenary meet- ing both as a matter of formall- of the coming ty and in view election of that group's officers. -United Press.

New York, Aug. 14. Prices of cotton futures closed today as follows-

Spot...

But the tide turned in Autumn.

EXPORTS UP

"Business activity revived carly in 1850, and later, with the outbreak of the Korean war, the speculative demand for increns-

United Press.

NEW YORK-MARKET

New York, Aug, 14.

Covernment securities.

£ 1,403,134,000

12,925,000 337,513,000 264 486,000 33,10,000 38,779,000 117

United Press.

BANK OF FRANCE

Paris, Aug. 14.

The Bank of France statement

for the week ending August 7 reads as follows:~~

49.43 nominal ing stocks raised the volume and New York SugarPrice50 to 9 points, tower Total of other currencies 3,112274933

30.70

25.58-38.00

30.49-3.64 38.32-30.35

value of our exports,” says the analysis.

As

result of World War II 37.73 motinal and

and partition of the Indian sub-

into Indit

Pakistan,

October

re-

December

March (1663)

May

July October December

19.84 33.63

41

NEW ORLEANS

Spot... October December

United Press. MARKET

21.30

March (1953) May July Gelober December

31.60-37.TA 38.45-30.60 31.50 36.41

31.10

the

„United Press.

May Sell Below

World Price

LONDON TIN MARKET

London, Aug. 14.

Rio de Janeiro, Aug. 14, Brazil is considering the sale of cotton to West Germany at a price bolow the world market, a diplomatic source disclosed. The move would be made in an effort

The in market was im this to help erase Brazil's $70,000.- 000 trade defelt with West Ger-morning with a turnover of 140 many and get commerce between tons of which 60 tons were for the two countries rolling again cash. Prices closed at the end of the omoial morning session no follows:-

A trade mission from West Germany is in filo de Janeiro

discuss lo

measures 10: Associated

reviving Press,

fratio,

JAPANESE BONDS

Spot Un, buyers

Spot in, sellers

943 044

Futures

Continent

and

New Yorit, Aug. 14. India

now exports World manufactured goods in addition today 1 to 4 higher with sales sugar futures closed to supplying raw materials and totalling 192 contraale. Importing finished goods.

The

cites a jump in report manufactured goods export from 26

per cent of total exports in pre-war years to 52 per cent at

present time.

Contract No. 8 closed un- changed to 2 lower with males totalling 139 contracts.

Prices closed as follows;

·Contract No. 4 (world)

4.04-4.09 4.07 4,00 nominal.

of rubber futures closed Total gold holdings Frs. 191,448,078,020

with sales totalling 120 con- Sight balance abroad.. 20,305,314,737 trocis. The spot market ruled Advance to currency Gulet. Prices closed today | Büts discounted

follows:-

September

October

November

stabilisations fund.... 33,100,000,000

30.05 bid 29.30 nominal Current accounts 20.01

France and abroad.. 870.264.747.293 Notes in circulation.. 1,970,044,353,120

64

123,220,980,413 -United Press.

27.83

27.50 bid

deposita

20 nominal New York Stock

27.30 bid

77.15 nominal

27.00 bid

28.00 nominal

20.00

20.40

20.20

30.00

December

21.60

January (1053)

25.10 nominal

February

March

April

May

June

September Calober January Marchi May

(1003)

3.00

3.PL

July

3.93 nominal

July August September October November Брав

3.00

Spot

4.05

No.

September... November

5.01 bid

6.00 bki

March (1059) May

July

September Spot

Raw materials exports have declined from 40 per cent of all exports to 23 per cent and manufactured

goods Imports from 79 per cent to 52 per cent. September --Associated Press.

Cotton Grade

Standards

Washington, Aug 14.

3.81-5.53 8.38 bid 0.09 mil

4.12 业 4.07

United Press.

Pepper Market

-United Press.

LONDON MARKET

Lonia, Aug. 14. Prices of rubber futures closed today no follows:- Number 1 rubber. In pence

per t September

Delober/December

January/March April/Juna

}

New York, Aug. 14.

market pepper

tod

The Agriculture Department announced that several changes in the upland cotton grade stan-. Business done at

940-941 dards will be made next year, Tree nonthe tin. buyers 937

The "fair" and "strict good! Three-montha tin, sellers.. 030

middling" standards for white The Business done at

038-634 914 cotton and all standards for extra quiet today with some spot ma- Settlement

-United Press. white cotton will be abolished on terial sold to dealers at around August 15, 1933. The numerical $1.00 a pound... designation for grades of cotton

Exchange Rates

Business was done in the local

exchange

market unemelal morning at the following: ebles:---

will be deleted,

2013-14

2544-2204

23-535 2012-

-United Press,

BRITAIN BUYS

BRACOTTON A

Buttses, Aires, Aug. 14.

The British Raw Cotton Cor- mission wài” shid to have pur-

Stocks awaiting release were chased 10,000 tons of Argentine

$1,03. raw cotton which the official The present physical standards indicated at around for "good middling" and "good 1.87. Afloats were. Indiraled at Argentine Foreign Trade Mono-

On shipment poly Announced middling tinged" will be changes around $1.83.

London, Aug. 14.

Japanese bonds

"A" (4s. of 1800) "1" (4s, of, 1010)

"C" (48 of 1007)

01/2 60 1254

TEN CENTS EACH'

"D" (63. of 1034)

Consols

914

"E" (548 of 1934) ..

1401

Indonesia gunders (per 100

86%

Bum ficata (per 100)-, (***

Singapore irata)

United Press.

FIC prizes (per 100)

31.00

1. spotted" 11.85 United Pross.

US dollar (pur $1) Ja... 6.88entddling Stering note (per 61),

I WAS

#t

$1.67-81.07Avealing the pie without re

purchasers' name. the 10 descriptive standards. The positions, the first half August.

quoted

amount represents about descriptive standards for "strict w

UNE 1.06-$1.05,

· August · `

1.5

Argentina's per cent of spotted".

"middling straight

anet estimated purplus froin the pre- 15.3 spotted", "strict Tow, middling September: $1.58 $1.69

October $1.54-$1.85 a polind,sent crop of found 600,000 tons, spottes

Fond "low middling all on an ex-deels basis-United The price of the sale has not

will bo retained-

been disclosed.United Press.

Press

Exchange

New York, Aug. 14.

In the stock exchange market, dealings totalled 930,000 shares. Of 1,054 issues track, 380 ad- vanced, 254 declined and 320 Olls were were unchanged. down again ranging to 3 points. Some mila gained a polat or 10. Steels oased,

Dow Jones averages at the end of the session stood - na follows:-

30 Industrials

20 rails

15 utilities

10 bonds

277.75

103.60

60.60

98.00

-United Press.

Tung Oil In NY

New York, Aug, 14. - Prices in the seeds and oils market closed unchanged with the following exception:

Tung oll, in tank cars, F.0.1. New York, ber 1b., 384 cents. -United Fress.