1952-08-19 — Page 9

MESSAGERIES M

"GRENOBLE" "FALAISE"

"COURSEULLES"

Arriving

THE CHINA MAIL, TUESDAY, AUGUST 19, 1952.

MARITIMES Huge Profit In Election Campaigns In

Leaving

M®

Outward For

.Sept. * Sept. Adalia .Sept. 10 Bept, zi Jabal

B' Bept. ....Sept. For passenger and freight.

Homeward For

D. N. Africa & Entblo

1 For freight to Shigon, Aiglera, Oran, Tangier, Casablanen, Havre,

Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

---via Marsellies to all Mediterranean & West Africa Potis.

via Djibout! to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 63, Hongkong

Queen's Building (gr. floor)

EVERETTE

Tel. 20651 (8 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 Porta.

"NOREVERETT"

Arrives Sept. 3 from Singapore. Salla Sept. 4 for Japan.

"REBEVERETT"

Arrives Sept. 10 from Manila.

Sails Sept. 11 for Singapore, Penang,

Rangoon & Calcutta.

(Accepting carzo for transhipment Kube/lunan and Robe/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 Ports.

FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR ALCYONE” Arrives Aug. 22 from Japan. M.S. "STAR ARCTURUS”

Arrives Aug. 22 from Singapore Sails Aug. 23 for Kobe & Yokohama

M.S. "THAI”

Arrives Sept. 4 Sails Sept. 5

from Japan. for

Bingapore,

Swettenham,

Port Madras,

Colombo, Bombay,

Karachi, Basrah

Khurramshahr.

(Accepting cargo for transhipment Kobe/Tusan and Kobe/Okiiawn)

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

Rapid Recovery From

Steel Strike

Hailed

Car Field

Melbourne, Aux. 18. General Motors Holdens made a record for an Aus- Irailan Company

with year's profit of £2,710,000 sterling after paying R3,- 320,000 sterling th tastes,

It is turning but 25.000 vehicles a year.-Reuter,

HONGKONG

SHARE MARKET

(From Our Correspondent)

With reveral large deals, the trading on the Hongkong Stock Exchange this morning was of total value of $203,707.40. Noon quotations were:

a

SHARKS BUYÉNS SELLERA BÅLES

BANKS

HK Bank East Asia

INSURANCES

1420

R. Whart

Union

IK Fire...

DOCKS, ETC.

N. P. Wharf 8.10 0.00 Dock

Provalen

Wheelock

LAND, ETC.

20 157,2

10.70

12.00

4214

500 43

by 0.00-2000 4 0.53

3'rain

12

10.20

TTAM IN 1314

U.S. Bring Out Issue

Of Tariff

Problems

Reciprocal Trade Pacts Rank Prominently

Washington, Aug. 18.

SASSOON'S SELL

Diplomatic interest in United States political SHARES IN campaigns tends to concentrate on developments affecting future trends of international commerce as dollar exchange problems become increasingly difficult for many countries of Europe, Latin America and Asia.

*

In many Embassies the international balance of payments apparently causes more interest than even the security phase of the campaigns.

The Intest trade Agures here The Commission speciReally do not portend any trend to recommended "that permanent ward a permanent narrowing of legislation entirely independient the dollar gap caused by the of the Reciprocal Trade Agree large surplus of United States ments Act be enacted, authorising exports over imperis, Neither the unilateral elimination

Re-Import duty on any industrial the Demceratie nor the

crude ur publican platform has given material in either any certain assurance that the relined farm whenever It is determined that the United States United States will scon expand the total volume of normal im- 1s or is expected to become sub- perls

from

abroad, althcughtantially dependent on imports the Democratle

of the material and that such ម platform inore nearly in line with the action is in accord with national

interest."-United Press. international

than the Republican, viewpoint

In June

HK flotel

HK Land (0) 4814

Land (N) 44

Humphreya

UTILITIES

Tram 101

Light (0) 00

1000

Light (N) 0.00 6.16

Eec.

22.00

17.00

paris and

Fleetie 2240 22.70 1048 Mens

10.50 Telephone 1746 17.00 000 INDUSTRIĀLS

Cement .... 17.00 17.00 2000 à 19,70 500 * 45.00 309 / 17.30

Rope

....... 19,30 STONES, ETC.

Dairy... 7020 Walkin

2715

1500 m 1020 200 21.00.

34 11219, 920)

Umwond MISCELLANEOUS

Yongisze.... 515 5.20

Shell Of Canada Expanding

Toronto, Aug. 10.

The Shell Oil Company of Canada today announced plans to pour $10,000,000 into its expén- sion programme for its refinery facilities in Vancouver, B.C.

W. M. V. Ash, company pres sident, said the job would start this autumn and probably would be finished late next year.

He said I was hoped lo dovetail the

United Stater ex- tolalled $1,102,300,000 Import

$800,200,000. In the sume month last year exporta were $1,200,800,000 and imports $830,200,000, For 1951 United States exports totalled $15,030,- 200,000 and Imports $10,007- 000,000, Ag

the large surplus of United States exports over Import is made possible chiefly by foreign aid programmes the foreign point of view is that there con be no permanent normalisation of world trade until the United Staley is ready to absorb a larger volume of exports,

TARIFF PROTECTION While President Truman re- cently oppod many moves to- ward tariff protection On individual commodities Auth, as

of

watches and garlic, foreign opinion will remain uneasy about a possible revival "protectionism" in the United States until the complexion of the next Congress Is katown. All tariff and revenue measures ure

initiated in the House of Repre- sentatives.

moves

In 1953

If Governor Adiei Stevenson and a Democratic Congress to elected, diplomats expect curly to extend the Reciprocal Bargaining "Act and proposals for higher lariffs on 92 individual commodities would encounter resistance except in tion project with

extraordinary bases. of the $82,000,000 trans- mountainoll – pipeline from Edmonton, Alberta, to Vancouver, in which Shell has a large interest.

com

Mr Ash said expansion would result in California crude oil being replaced by Canadian oll at the Sheldurň · Belinery. Burrard Inlet, north of Von- couver.

at

. Copacily will be more than doubled, increasing to 15,000 barrels a day. ----United Press.

In America NEW ORLEANS

New York, Aug. 18.

Many of the weak spots in the U.S. economy are gaining strength and recovery from the steel strike is making rapid strides.

The cotton textile industry, which has lagged too long, appeared finally to have turned the corner toward better business.

**

The lights are burning late for sild It would lay off 500 locomo- second and, in some cases, third tive division workers on August of the textile 20 for a fortnight because of steel shifts in many centres.

shortages. Its ordnance division, which makes tanks, will not be Buying came back to New affected. York's Worth Street, centre of

Production the goods

Prices market.

And # National

said that the strengthened and remained Arm. Authority official

of farm equipment Freight carloading were the inability highest since. December 1 last manufacturers to obtain steel muy year-782,171 compared with cost them 30 per cent of next

Iyear's machinery production. 732,920 the previous week.

goods

WHE

wak

that an indication were on the move again.

CAR OUTPUT

and

Electric power production was Motor-car production dropped the highest since March to 38,205 passenger cars 7.495,322,000 kilowatt

hours trucks compared wih 43,064 the against 7,404,913,000 the previous previous week with many of the week. It showed more machines big plants closed for lack of

unc were being

in more sicel. Directories.

..

Steel production pushed close) But the industry expects its to the 2,000,000-ton mark' as output will leap ahead this week the large manufacturers additional facilities returned "to"] as

... full operation and the plants ran return to more normal production

at 95,4 per cent of rated capacity, schedules.

COUNTING THE COST

Steel markers and steel con- sumers still were counting the cost of the long striko.

The American Iron and Steel Instituto sold the walk-out

Spot

COTTON

October December March (1953) MAT

July October December

Closing rate August 10. 30.20 38.92

38.80-$3.00 28,82-33.34 53.44 bid 38.10 bid

United Press.

Pepper Prices Up

New York, Aug. 18. Spot supplies in the pepper market developed a considerable strength following the reports that addiilonal imports had been. rejected by the Government under the good drug act regula und flons. Spot material was quoted from $1.91–1.03.a pound. Stocks hwaiting release were quoted at $1.08 to $1.72, the fret half of August shipment $1.00 to $1.72 straight August shipment $1,54, September $1,56 and October $1.01 a pound, gil on an ex-dock bhisis-United Press.

Exchange Rates

3001

6.375 15,00 1.00

Businise was done in the focal tmciclul exchange THETHES hol morning, at the following rates 1.8. Uollar (ber 83) Hiering, note (pK £1) Indigneria, ylldars. (per Sam tinh non bài

ingapore strastor fic plastres (per 100)

11.05

for

However, diplomate noted that the Democratic platform also favoured expanding export markets

United States manufactured and agricultural products. Consequently liberal import policy would not by itself result in early balancing of trade. A new De- mocratic administration would, therefore, have

the

B

|

Gold Price

Soaring Paris

In

Paris, Aug. 18. Prices of gold and foreig climbed banknotea

to their highest peaks for some months here today,

British pound notes on the black market rose to 1,025 francs-their highest since the end of April, and 25 francs more than last week.

United Press one dollar bilis

were being quoted at 424 francs ngalast 415 at the end of last weeks.

LONDON

Londai, Aug, 10. The Bargoun family of million- and batikerA the merchants" have figurel in a share Heal

which lets the pubile in for the

Hest time on a tiny corner of its world-wide interests.

Pazo D

ROYAL INTEROCEAN LINES

"VÁN URUTR

"TJIWANGI"

JIPONDOK"

"STRAAT

BAILARSAN* BEVISERVAIN“

“TJIMENTENG"

MPIILUWARIN

"VAN IKUTNŻ” TJIBADANK" ATJIKAMPER"

PTJIWANGÍ"

"TEOKLNERO"

"STRAAT

MAKASSAR",

SAILINGS

Aile. "12

Sept. 2

Sept. 2

Яept, D Hept.

AliExjystė, Djakarja,, PrieNIDADE

Belawan finik de fonalis -

Singapore, Dinkarta. Semarang,

surabala Machiṣar Djakarta, Tjirebon. Semarang,

Burbaine Mackenne

Japan

atantia

beautifus.

8. Attles & K America

1.1. Porta, nitranote, R. & 8. Alijen Mingapore, Dinkatía, heimatabe,

mutabila & Masahar

Japan

Kimpore, Penang belaWAN 270)

Jakarta, TheMon, Hemarang.

Suralala & Aticassar

Bingspory SKRÄTTA. Beating.

Aufabkia & Micassat

Jubats

Manila,

B

Bept. 10

Sept. 16

1

Sept. 17

Rept, 19 Hej. 25

Oct. 2

Ort,

Oct,

VAN NEUT82"

Ort. 30

"THBANTJET"

Oct.

TIBODAS”

"TJISADANK" OTHLUWAII"

UTHANAS“ "NUTA" "TIRWANGI”

ties.

Ort.

Ort.

11

Japan

Det.

Зарата

Nov.

Z

Nov.

Nov

Nov.

ธ

**TASMAN" “TJIPANAK**

"TJIADANI?"

"VAN HEUT97” **TJIWANOL"

"STRAAT"

MAKASSAR” ***JIPONDOK"

Bingapore .. Mtaaridus,

B. Africa & B. America Singapore, Pthißka Belawan Bell Mania, Singadbik, B. & B., Africa Dakaria, Tiirebon, Remarang,

Arabais a Merasar

מבו בd

Singapore,

Frabais

jakarta. Renihrane, "MAtasıar'

singapore, Djakarta, Bemarati,

Rurabile Macassar

Hingapore, Penang & Belawan Dejl

Jakarta Hettiarank, Surabala

Stocaxxar

Singapore, Mauritius, 28. Africa,&

5. America

ARRIVALS

Aug. 20 Aug. 2}

Sept. &

Sept. # Sept. 7

JAPAN

From

jwww.com

Macassar, durabata, Bearing

Djakarta & Slaapore

9. America, 8. Atèlea, Manzktus,

Singapore & Manila

Japan

Japan

KING'S BUILDING, Ground Floor.

In its Africais Mercantile Co., fait per cent Preference slibres it je zelling £100,000 of Bix-and- at 203. f the British Shareholders

for

"BOISSEVAIN" market later this Trust incath.

Besides this, the trust also takes £100,000 worth at hew Preferences, plus £70,000 of new 10. Ordinary shares at 158.-also for putting on the markets.

It is the family's 00-year-old City frm of David merchanting Sassoon and Co. which comes in on the deal.

the firm once hended

by the Inte Sir Philip Sassoon, Cousin of Bir Victar, governing director of the E. D. Sassoon Danicing Co.

Today there is no direct link between these two great family businesses the merchants in

London and the bankers who

Inst year shifted control of their nel-work from Hongkong to the Bahamas.

The

he merchants, David Sassoon andt Co., took over control of African Mercantile more than 30 years ago when it was nearly derelict.

Under their mastery it has prospered greatly in its trading a Kenya, Tanganyika, and Zan- zibar.

in

Now African Mercantile is a £1,000,000-plus altair, handling everything from textiles to lemonade, Last-your it made popes to pay 15% dividends.

13

pröfits of E£240,000. It

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS. 31106, 25183

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "HULDA MAERSK”

-

M.S. TREIN MAERSK" M.S. "PETER MAERSK"

In Port Buoy A7

ARRIVALS FROM U.S.A.

M.S. "NICOLINE-MAENSK" M.S. "ANNA MAERSK" M.S. "LEXA MAERSK"

Sept 2 Sept. 15

Aug. 80 Sept. 10 det. 3

For Freight and Further Particulars please apply to:-

AGENTS:

After the deal is rounded olt On the free gold market, the the David Sassoon Arm will one kilo fine gold ingot jumped still own more than 44% of the 6,000 francs to 525,000 frastes shares-enough to keep effective per dilo in official trading. In control.

unoficial trading later, it was being sought as high as 620,000 It

These

beat were the since April

17. The renewed advances were

attributed to reports Cholmondeley. Her son, Lord Pedder Building. generally discussing the possibility of John, works higher "official" price for gold, Arm-Dally Express Service, difficulties over the French budget and the rising end of

franes.

and Co.? And David Sassoon

now owned mostly by women relatives of the Inte Sir Philip. One of the large share- holders 13 his sister. Lady

for the family

food prices. th France, — Reuter. New York Sugar

London Tin

Market

London, Aug. 18, The tin market was steady on consider a turnover of 60 tons of which 20 measures to increase

tons were for cash. Prices closed volume of imported

today at the end of the official raw materials 25, for

morning session as follows. example,

Spot in, buyer

B34 through stockpiling civilian as

958 Spot tin, seller well es military commodities the "balance of payments" credits.

EISENHOWER PLATFORM

General Dwight D. Eisen hower, if elected Republican President, would have to imple-

or

S

World

Futures

JERSEN & CO.

N.Y. Cotton

Futures

Cotton

advances.

!!

Tel. Nos, 86060-9,

N.Y. Foreign

Exchanges

Canada (dollar). England-officini

unoMelal

New York, Aug. 18. New York, Aug. 18.

futures

Ex- today the first major re- perienced sugar futures closed

+ 30-day fullizer today unchanged to six lower netion in the week, even though

00-day futures closed with minor Australia with sales toalling 189, con- the market

The late casiness of New Zextand tracts.

Contract No. 6 closed today the stock

brought out South Africa- market

by local day Denmark two to five points lower with sales totalling 385 contracts.

traders. The coincidence was France

West Germany in hedge Holland that Prices closed today as follows:

mall Interest

market tired Italy Contract No. 4 (World)

solling found the September

March

Busine dama at..... Three-montha tin, buyer Three-months tin, seller Business done at Settlement

964-005

October

January (1053)

040

130 055

May

-United Press.

July

Spol

September

September

ment the following declara- New York Stock November

tion

"We favour the expansion of mutually

world advantageous trade. To further this objective we shall press for the elimina-

of the Republican plat- fortn:

March

May

Exchange

July September Spot

In the stock

New Yorker, dealings

Aug. 18.

tion of discriminatory practices totalled 1,000,000 shares. Of against our exports such as pre- 1,101 issues traded, 178 ad- ferential tariffs, monetary and

222 venced, 701 declined and licence restrictions and other declined. Oll fosses extended arbitrary devices. Our reciprocal to over 4 points. Strels custd trade agreements will be en fractionally

Motors mostly. tered into and maintained on the lost a point

so-United basis of true reciprocity and to Press safeguard our domestic enter- prises and the payrolls of our

or

workers against unfair import London Rubber

competition."

Futures

London, Aug. 18. Priety of rubber futures closed today as follows:

3.97

4.02

3.07 asked

3.00 bid

3.80 bld

3.00 bid

Contract No. 0

0.00

эт

DIC

selling

after five

consecutive

rising prices.

the market

Belgium.

Porttigal

days of Norway Technicians said pain

at the carly

Sweden

was more than 100 nointerland

Middle East

the lows touched on last Mon-Egypt

day, October touched 30.18 then

Tran

cased to close 31 points under frag

Turkey the previous Argentina

the top. and the net was changed from

5.47 bid

close.

$52 btd

5.00 nominal

B.37

6.95

United Press.

Newsprint In Caninda

production in July

of

Montreal, Aug. 18. Canadian newsprint produr- tion in July amounted to 420,039 tons, an increnim of 33,084 tons 7.6 per cent compared with 1931, the Nawzprint Associatio Senator Robert A. Tat, who

Canada annotinced yesterday will still be the Republican

Canada's July newsprint ex- leader in the Senate, said before

were 483,250 tons, an in- pare of 40,084 tons.1 per the Convention that he did not favour a general fariff revision:

cent compared with July, 1151. but supported protective adtion

Shipments to the Unlled States cases where industry No. 1 rubber, in pence per ib. 20-2014 were 408,102 tons, six per cent "imperilled",

September

20-201

higher than in Juts, 1081, anú 24- October/December Stevensah, Governor

215 84.0 per cent of all July, 1852, January/March

2492-5 | expörtle-Adelated Press. elected, would have at his dis- ApriJune

"United Press. posal the recent report by the President's Material Polldes Commission

contained some novel proposals.regarding United States foreign commer clal policies, This huge five- volume report is being analysed In many diplomatie and political quarters,

in

which

if

DEMAND FOR

SULPHUR

Foreign

Washington, Aug. 18:

demand for

con-

Italian Tobacco Sales Up

potted: In the first half of this year, the Government granted.

Export

-New York, Aug. 18,

seling Increasing Italy is

flue-cured tobacco 54.10 OVERRIDING INTEREST diconed sulphur for trop dusting amounts of

the Governme

mentin

the European market, The Report said that "byer is glowing.

American fondēto épurees re riding national interest point reposted, clearly to the entry of materials into the United States"

The Commission believes that the recipiceal trade programme should be carried forward and its authority expanded. Under this system the Goyersiment should continue to reduce duties on raw materials in which the United

Before the steel strike began the 1952 output of molor-cars was estimated as high as 4,500,000 units. Now many think it will tako noine luck to reach 4,150,000. The trade paper Automotive News said the stocks pl unsold resulted in a drop to 40,037,200 new cars in the United States are net tons its steel production for at the lowest level since the end the rat soven. months of this of World War II.

Prices of copra were quoted That la a decline Retail stores reportel-à Hulk.-today--at-180-per-short ion 14,301.224 tons from a year ago. botter business than a year ago nominal. Coconut oil was quoted Among the consumers, the and about even with the previous today at 9 cents a pound, nominal. American Locomotive Company week-Associated Preps.

your.

of

Copra Prices New York, Aug.

-United ProJA.

State is deficient.

underlying

US$1.04-3/18

2.78

2.13 bkdd/ 2.80 baked

2.7734

2.70

2.23

2.18

2.18

01001 1454 6028-b/lb

2637

un- Lado America

0040

Brazil

olivia

Colombia a - Cuba

.0600

0083

1,00

Peru

3700

Local ring observers said the Chile

was "ripe for market action" but claimed that the Mexico

sentiment was su

Uruguay by the crop picture | Venetsiēls dominated plus the spot market and textile Far East trade. The hot and dry weather India over Texas and Oldahoma was tongkong

Pakistan

a source of increasing worry Indonesia Eingapore Fight now. The disparity be

Japan tween spots and futures and bren another source of support.

Closing quotations:--

BD01

October

December Mareli (1953) May

July,

October

December

40.20 nominal |

30.57-39,93

38.3-38.8

30.77-38.05

33.70-10,11

28.17-38.10

36.15 dia

United Press.

New York

Rubber Futures

New York, Aug. 18.

futures of rubber Prices closed today 10 to 30 lower with 30 contracts. sales totalling Prices closed today as follows:-- September

belaber

Huvember Becuthber

February March

Although bly hat January (1053) produced this tobacco used

in cigarettes only Apri ences for 17,374,008 peuntis chiefly for crop dusting and 1,144,020 few years, Ne output last year pounds of collon dutting formu. | was about: 21,000,000. povads, fations containing 20 per cent these sourets

Largest more › sulphür,

The Flation tobacco, they sold, quantiles-went-to Mexico, has many desirable smoking Associated Brazil Poru. Syria and Egypt.characteristics." Associated Press,

Prets.

or

wald..

May

Autum

June. July

September October November Épot

300 yen to UBIL -United Press.

Chicago Grain Futures

Chicago, Aug. 10. Prices of grain futures closed today ns follows:-

Wheat-price per bushel,

Spot ..... September December March

May

Corn

Spot September December March

May .Rye

Spot... September

Osta

2.9014-2

2.001 8.11

Spot

September

34-511

·啡

30.10

New York flotaper 200 16. Häckt. -2950 nominal $12.20-United Press.

28.99

20.40

20.00 nominal JAPANESE BONDS

London, Aug. 18.

#725 nominal Japanese bonds,"

27.73 27.40 bia

27.10 bid

20.00 záměriat

tako bla 10.00 ipminal 24.50 bid 26.30 nominal 20.10 nominai

-United : Prem.

"A" (4%, cr 1000) (4 of 1010) C (45 of 1007) "D" (55, of 1934)

" (8128, of 1034): Consols

00

1201

04%

4609

-Unlied Press.