1952-08-22 — Page 9

THE CHINA MAIL, FRIDAY, AUGUST 22, 1952.

MESSAGERIES MARITIMES STAGGERING POTENTIAL

MOM American Investors' Opinion Of Canada

"TAUBUS"

"GRENOBLE"

Arrivin

LAATIOS

Aug. 24 AME B3 Sept.

**LA MARSEILLAISE”, „Nept. 15

"FALAISE"

+"COURSEULLES”

Sept.

outward For

Balgra là Talphong

Нерв 9. Japan

Yokohama & Kobe Japan

Homeward For

Aept. 10

Sept. 24

****Sept. 10

Sept. 11

...Oct. 5

Sept. 27 Ort.

N. Africa & Enrbpa

Atarseliles via Balgon N. Africa & Europa

LA MARSEILLAISE” ..sp. 26 "GRENOBLE"

For passenger and freight,

1 For freight to Balgon, Algiers, Oran, Tangler, Casablanca, Havro

Dunkirk, Antwerp & Rotterdam

Accepting cargo:

Via Marseilles to all Mediterranean & West Africa Ports. -via Djibout! to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O: Box 53, Hongkong

Queen's Building (gr. floor)

Tel. 26651 (8 lines).

EVERETT LINES

· EVERETT ORIENT LINE

Fast cargo and passengers servico refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Slam, Malaya, Burma and East Coast Indian Ports.

"NOREVERETT"

Arrives Sails

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

"REBEVERETT"

Arrives Sept. 10 from Manila.

Sails Sept. 11 for Singapore, Penang,

Rangoon & Calcutta.

(Accepting carzo for transhipment Kobe/lusan and Kobe/Okinawa)

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

FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR ALCYONĘ”

in Port Discharging

M.S. "STAR ARCTURUS“

In Port

Sails

Loading

Moji, Kobe, Osaka Aug. 23 for

Nagoya, Yokoliama Shimizu,

M.S. "THAI” `

Arrives Sally

Sept. 4 Sept. 5

from Japan. fo: Singapore, Port Swetten- ham,

Colombo, Madras, Bombay, Karachi, Bosrah & Kharramshahr.

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

-EVERETT - STEAMSHIP CORPORATION S/A Queen's Building, Telophono 31206. Chinese Department: Tolophone 28293.

Rice Prices

Saigon

Rising Steadily

Saigon, Aug. 21.

For the last month the price of rice has risen now reached a level which, a year steadily and has ago, the most pessimistic economic observers would have thought impossible.

What would become of the situation if the Vietnam Government had not decided to suspend all exports?

In Hanol, the relatively There is no doubt that the increase in the world's market large supplies of rice from prices was one of the major South Vietnam mode it possible cause of the rise in prices, as to stop prices from getting out it prompted rice stockholders of hand and eventually bring large stockpiles of them back to their previous to keep paddy, although there is now level.

only three months left before Prices dropped from between the timo of the next rice 8.15 and 9.15 plostres per kilo

between 5.15 harvest

and

To some speculators, rice is

as good us gokl.

tes

plastres.

0.15

In July, ecal output reached 60,200 60,300 tons as against tons in June and 67,500 tons in The decrease Was duo

Grain Prices Ma

Firmer

to seasonal variations,

Cement production reached 13,000 tons

as against 19,800 tona in June and 18,800 tons in May. Chicago, Aug. 21.

As far as Imports and ex- Chicago grains were general-

87 ICT- ly higher, stemming from the ports are concerned

chantmen entered Saigen har firmness of vegetable oils, while

bour July, unloading 105,200 most other commodities were tons of goods as against 90 mer generally mixed.

chantmen and 143,300 tons in

Wheat closed lower to June. higher and soybeans were 1

There are Indications

to 3% higher on covering and there will be a decrease in im

renewed demand. Prices closed today as follows

Wheat-prices per bushel

2.9934-2.30

2.31-2.13

3.3744-14 3.43-

2.4422-15

ports in the second half of 1952.

Peking Offer

To India

New Delhi, Aug. 21.

The Peking Government has offered India a further delivery of 50,000 tons of rice in addition to the 100.- 090 fons to be delivered under a former contract,

It is believed that the extra

were originally meant for Cey- lon but the buyers had

*can- pelled the order.

Lonя 50.000

The Indian Government is now studying the offer. and It is believed that it will probably be secrpled.

France-Presse.

RAW SILK PRICE AT CEILING

Increased Domand

Huge Influx Of Capital

From Across Border

Washington, Aug. 21. There is virtually nothing that could impress an American more than a country whose currency is better than the United States dollar.

Small wonder that Americans have been rubbing their eyes in astonishment that such a situation should exist right across their own border-in Canada.

For some time now, the Canadian dollar has been "harder" than its American brother. And there is nothing to indicate that the trend in favour of the Canadian dollar and against the American dollar is going to change soon.

Дом

It sounds, perhaps, paradoxi- cal, but Canada, to a large extent, owes its prosperity to the United States.

American free-enterprise capital will always

where good profits are in prospect, and where the domestic economic situallon is sound. American adventure capitul sco

sees Canada's potential as staggering, its future unbounded, a country where today's goals will be tomorrow's norms.

its strength, and its dimensions, } that has never existed before.

is

arça

An American the other day was stunnered to be told that the United States is only one of the "smaller" countries on the American Continent. A Canadian pointed out to him that Cannin has an of 3,845,144 square miles, while the United States

3,022,387. has a moro

Though the "Bizo" of a country determined more by its economic power than by total acreage, it

eage, it nevertheless shook the

and with

All the American,

going on in development now Canada, its still vast and un- topped riches, exports,

and its sound he wondered administration, whether sooner or later Canada might not just be bigger in size. FOREIGN TRADE

Every country that imports more than it exports has balance of payment troubles. The British Government is only too well Tokyo, Aug. 21.

aware of it. Canada, too, Im- The raw silk. price on the aware of

ris, Yokohama market today reach-ports more goods than it cd tho Government-imposed but its trade deficit is more than offset by the huge amount of ceiling price of 240,000 yen.

The price almost reached the capital which is Bowing inward American carlier Deross its borders. prohibitive level once this month when the quotation dollars, by the hundreds of milllons, enter Canada freely was 232,000 yen.

Traders attributed the price for the development of its natural rise to Increased demand by resources.

As an example of the speed of domestic and foreign buyers,

is. development purchases develo

for active particularly

and the instance, the large Lloydminster by domestic weavers higher

her prices offered by United heavy crude oilfield in Western Canada. At the end of 1940 States importers,

there were 29

They said that American buy-

there

ers are ready to pay 232,000 yen | ond the year's ucing wetls, nation's foreign trade published

per bale for September delivery anti 225,000 yen for November- December

delivery (20-22

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning was valued at $254,880. Noon quota- tlone and the morning's trans- actions:--

SHARES BUYERS BELLERS SALES BANKS

Ai Nav.

ETC

1420 142

5.40..

"เ

1,60

DF Wharf 635

10-1425

18.10 1300

1500

Dock.... Provident S'hal Dock.. 1.30 Wheelock... 427% 4274

UK Bark East Asia.... INSURANCES Ottawa, Aug. 21.

Balon . 750 Canada was the world's fourth-

Underwriters nation in 1951, largest trading ranking behind

the

United SHIPPING States, the United Kingdom and France, and ahead of the Federal Republic of Germany, according to the annual review of the by the Statistics.

In At the end of 1951, the number

carlier

post-war years of producing wells had soared to Canada ranked third in world 416; and the year's production is trade, but as economie recovery in Europe has progressed, the share ot 2,000,000 barrels.

France and Germany has steadily increased.

In relation to population, how- ever, Canada's trade is greater than that of the other world

production total

led 213,000 barrels.

on consumers recently estimated to have been around began to show a fairly strong interest in Grade A 20-22 denter, they said.

The traders also said that an other big factor in the current steep price was the low stocks at the Yokohama and Kobe ex- changes.

They said that the July output was a new post-war record at 21,000 bales, but that the stocks at these exchanges remained very low at 4,700 bales at the end of July-France-Presse,

Strong Rally In NY

JUMP IN STEEL The tremendous wealth of Canada's natural resources is indicated by its position in the production of some of the world's major metals.

It is second in aluminium,

"Arst

asbestos, second in cadmium, fourth in cobalt, fourth in copper, second in gold, fourth in lead, Arst in nickel, frst in platinum, third in silver and accor

second in zinc. Its steel production since 1946 hag

gained by 53 per cent. These figures speak the most persuasive language to American adventure capital. Wall Street's second largest stockbroker only a few weeks ago paid $75,000 to be able to become member of the Toronto Stock Exchange, some- thing that has never been worth

Dominion

Kingdom

Bureau of

J

the

trailu lekters, although less than that of Hongkong and New Zealand.

U. S. FIRST Statistics published # International Monetary Fund and adjusted for International dif- methods ferences in valuation show the United States first with of $15,034,000,000 and exports imports of 312,430.000,00, the second with exports of $7.580,000,000 and im-

$10,054,000,000, ports of

and France third with exports of $4,225,000,000 and imports of $4,591,000,000, Canada's exports were $4,045,000,000 and her im porta $4,240,000,000, the Federal Republic of Germany following with exports of 93,473,000,000 and For the last six years Canada Imports of $3,500,000,000. has reported budgét surpluses, Canada's domestic exports In for the last six years it has re-1951 amounted to $270.42 per tired Government bonds. Bo-capita, which was 3.7 times the ginning in 1946, the Government | 1988 current dollar volue of his reduced taxes each of the $75.11, and had Hsen by 49 per succeeding five years. In 1951, cent in volume. Imports per capita no tax

cut was made, but in 1951 were $201.59, which was surplus of 350 milion dollars was 4.8 times the 1938 value of $60,76, reported, and a further tax reiler and had risen by 77 per cent in volume, The volume of per was proposed.

that capita trade in 1951 was below

Cotton Priceore than $25,060,

New York, Aug. 21:~~ Cotton prices made a strong comeback after a work start Initial losses up to $1.70 a bale were converted into gains up to $1.50 a bale at the close.

was

the

HEALTHY BUDGET

however, true

0

Canada relies heavily on indirect 1947 but sharply above 1949 and

taxation. In the last fiscal year 1950.

500

LAND, ETC.

HK Hotel #30 IK Land (0) 4613

4T 2000401 HK Land (NÍ

44 Thai Land. 1.40

18.70

UTILITIES

Train X 8.70 3.00 2000 4.00 C. Light

0

C. Light (N) 5.90 Electric 20.30 2213 700 € 22.49, Macão Exc. 1015 Telephony. 17.19 17.40 2500 @ 17.10 INDUSTRIALS

Cement

Rope STORES, ETC.

Dalry Watson

L. Crawford

COTTONS

Ewo...

14

10.00

2121.30

10

211

27.20

Foreign

ROYAL INTEROCEAN LINES

VAN HEHE **TJRANCK

"VAN HEUTSZ” "TJBADANE” "JANPEK "TJIWANGI"

"Murabala à" Macarant "Jepan

Djakarta,

Tilrekom,

Buradals A” Mochimar

4. Africa & 4 - America

Manila,

Singapore, E. 46. Africa

Blagapore, Djakarta.

Montaran.

Singapore, Penang & Bolawen Desi

Djakarta

Singapore,

Djakarta Semarang,

Bursbalų & Micamagi

Sept.

TJMANTJET"

Bept.

"TJIONDOK”

sept.

“DDIESKVAIN"

Sept.

"BTRAAT

"TJIMENTENG"

“TJILUWAII"

MAKASSAR” Sept. 9 12 Sept. Sept. 14

Bapt. 17

Japan

Japan

Oct.

Oct.

"VAN BEUTEZ”. STIRAŃTSETS

Oct.

Ort

det.

“TIPANAS" "UYS

Oct.

Japan

Nov.

JAPON

Stag ryor, Djakarta

Nov.

Nov.

Nov. •

"TEOKSBERG. "STRAAT

MAKASSAR"

"TJIBADANE"

"TASMAN "TIPANAB MTJIBADANE"

"VAN HEUTEZ” **TIIWANGIT

~THHANTJET"

: יך

OF

JAPAN

Afenila,

Drapere.

Bingapore, Paztang & Balawan preil

Manis, singersta L = 1.5*ATYLCH

Barabata ♣ MAGRIRE

Japan

shigapore.

Diskaria,

Surabain & Macamer

Burapala de Nacaísar

Bemarang,

Singapore, abans 2 Bolaway, Esk!

DJMakita Kamkakang,

Масация

Blagapore, Mauriting, 8. Africa'

B. APARTITAT""

ARRIVALS

In Port

ARD. I

Sept.

DOIBBEVAIN"

Bept.

"STRAAT!

APR.

KAKASBAR”

"TJIPONDOK

Sept.

C

Japan

From

Semarang. ang me

MESORTERT Surabaia,

Diskarta 4-KISSESOTH Indonesian Ponte

Зарда

9. America, 8. Africa, Matelitus,

Singapore & Manila

Japan

KING'S BUILDING, Ground Floor,

TEL. 28015/18,

CHINESE AGENTS: 83 CONNAUGHT RD. 6. TELS. 31100, 25133

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE'S ‘PIMLAHELFÍLIA, vis SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

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

ARRIVALS FROM U.S.A.

M.S. "NICOLINE MAERSK”

M.S. "NICOLINE MAERSK”

M.S. "ANNA MAERSK”

M.S. "LEXA MAERSK”

សង

Sept

Sep

Oct

Aug. 26 Sent 10

For Freight and Further Particular please apply to:-*

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos, 20010

Dates and rotation subject to channg without wollen."

Exchanges Japanese

In NY

Helgium

Italy Norway

Dallas rege in accounted for 15 per cent of the volume, were established in 1951, Portugal

peratures above the 100-cars, radios, jewellery, etc., were (bureau's review.

In

New York, Aug. 21.

US$104-1/10

2.78-7/18 2.53 bkt/

21.45 asked

Cenada England-oficial

uno Betǝi

Fr

30-day futures

2.7714

H

90-day futures

2.78

Australia New Zealand South Africa

2.234

2.18

2.79

DID81

Denmark

.1155

France

0026-9/10

West Germany Holland

4.90"

237

001

,1405

.6370

Spain Sweden

DAGE

In-

Switzerland MIDDLE EAST ERSOL

2.0014

Scen

031-5

Iroq

Turkey

LATIN AMERICA

Argentins

Briell

,0040 .0300

Bolivia Chile Colombia

.0083

Cuba

Mexica

The turnabout was reflected in covering by local and New Orleans professionals along with increased trade and commision house demand. The firmness of the outside markets and the belief that the market is ripe for a rally helped to turn

the Canadian general sales tax New records, both in value and tido, Also in the background

the fear of crop

Its total revenue,

and special excise and the prices at which transac- Texas.

taxes on 'a wide range of tions were conducted were also at day of tem- twentieth straight

consumer articles, such as motor a record height, according to the

Exports mark with little prospect of

raised to 25 p. future. the near

creased in value by 20 per cent change

With Americans aching almost and in volume by 11 per cent as Some quarters felt that any

citizens do com which has taken as much as British deterioration

ports were 20 place because of the drought has under excessive taxes, with the compared with 1950, while im- been offset by gains in the American dollar losing buying-valtic and 13 per cent greater in per cent greater in of heavy In-volume. Export prices averaged Eastern bolt since the last Gov-power because

nation, Americans are ΠΟΙ only 18 per cent above the 1930 level, emment report.

were 14 per The big trading feature today looking across their northern and impert prices was a sole around 20,000 bales in border with envy, but they seem cent higher, although they were October delivery at the opening to have almost more confidence falling in the latter part of the

of Canada than year. by brokers acting for domestic in the future

thoir own country. mill accounts.

American capital is not only seeking to invest in the develop- resources, but uncounted millions of American dollars are fleeing across the border Into Canadian bank accounts, taking rofuge Inflation is a mlbor where problem.

to

The market opened off 20 Almost points to up 3 points. immediately the market started ercep ahead with the rise gaining momentum toward the close. The final prices were up 18 to 30 points:

Prices closed today as fol- 30.90 nominal. 30.09 33.02-36.63 30.04 38.36-31.37 37.83. 33.93

lows: Spot October December

March

May July

October

December

&

33.70 nominal United Press.

NEW ORLEANS MARKET

30.00 30.67-28,78 38.60-30.01 50-20.81 33.30 bid 37.75

ment of Canada's natural

|

The Rubber

Markets

Lendon, Aug. 21. The rubber, fulures market was dull today. Prices closed today as follows:- Number 1 rubber, In

pence per b September October/December

BY INSTINCT Many countries of the Western world, including "Britain, have tried to think up ideas of how to attract American dollar invest- January/Merch

Apri/June.

ments.

Certainly moro could bo

achieved in making greater dollar Investiments possible in British Colonies.

26-2012

2334-20

2535-33

23-2014

2416-45

--United Press.

NEW YORK MARKET

New York, Aug, 21.

Peru

.4005

Uruguay Venezuela

3700

2000

FAR EAST

India Pakistan

2002

2030

Hongkong

Indonesia

Singapore Japany

300 yen to US$1 --United Press: --

Liquidation In

NY Sugar

On

Approach

"Most Favoured Nation" Treatment?

Tokyo, Aug. 21. Japan may negotiate soon with Common- wealth countries for "most favoured nation treat- ment", according to usually well-informed business circle here.

They pointed out that even if Japan obtained admission to the General Agreement on Trade and Tariffs, member countries were entitled to withhold "most favoured nation treatment" from her.

The Japanese Government practice given the benefit of it bgents here and overseas would at present.

A

therefore socn be instructed to "The alm seems to be," the seek assurances that the United newspaper continued, “to pre- Kingdom, Australia and New servo bargaining weapon Zealand in particular would against the possibility of any give such treatment in the event revival of unfair trading pre-

tlers on the part of Japan.

of Japan's admission to GATT.

The Arst of such agents, ac- cording to these circles, would

"But is the Government really prepared to incur the odium that 11, after

be representatives to the cotton would be likely

wens ering in London Japan OHO

conferener

In mitt-September.

moderato trading points to the

pleted

the procedure for joining

was admitted other members?

“Firinnel) Time" concluded,

A Finance Ministry official the GATT and becoming a full Gold today that despite reported member, Britain still refused her objections it the benefit of the most-favoured Commonwealth seemed to be only a matter of nation cause accorded to all the time before

There is no Indication, the New York, Aug. 21.

to GATT Japan w

In London, the "Financial that the Government has, In Domestlé' sugar futures con- tinued under the pressure of Times" today gave the reasons fact, made up its mind on this

nation for liquidation' in sx4 andTM Decem-

Britain delaying

matter. le essenting that it ber which declined 3

against the admission of Japan should make a clear-cut, polley General Agreement on decision me way or another before the GATT, conference The balanes of the contract Tarifs and Trade. 1. Prices of rubber futures closed

The "Financial Times' suld: meets in October-Reuter" and But American capital is hard-today 20 to 80 points lower. Soot, was quiet and steddy as trude

was centred on the "What lies behind the British France-Preise. headed. it expects good profits, along with the futures maritet. Septenter pasillon. The actual action is the perfectly legitimate and no serious restrictions. remained idio in the absence of

desire to avoid of hurried deel- Prices raw market was easier, exist in Canadá, manufacturer interests, These conditions

A The distribution of refined blon on the Japanese applica- closed today as follows: ny artificial and so without

tion." cugar, consinued on the basis of 2112123,05 bia Beptember Incentives American dollars by cctober

13:34 nominal almost a day-to-day basis,-!! instinct 'dre pouring to where November

28.87 nominal. Unlita Press; 2. Art sound. Until recently Canada was just Janua another neighbour of the United March 21.

States: It B very friendly April 81

Juns the

August 1274

now, Canada has become september 04% 1842 a respected zeighbour, looked October 08% upon with envy, Thero is also spot. United Press. an awareness of its potentialities,

that

Spot October December March May July October December

39.45

*9.01 biti

United Press.

BONDS Aanges

May.

As far as exports are concern- jed, 97′ freighters left Saigon in

July, carrying with them 02,200 nst $3 tons of goods as against freighters and 63,300 tons of and 00 vessels Goods in June, and. 1.821-1.5 and 70,600 tons of goods in

The latest figuro show that in JAPANESE July, nearly 6,000 tons of rice

London, Aug. and by-products and 3,349 tons Janese bonds

"A". (43. of -1999) of rubber were exported' from

49, of 1010 Salzon.

་ ་ "D" of 1934) "E" (51⁄2, of. 1934)

Блюв

September

December

March

MAT

Corn spot September December

March

May

5 pow

Osla

Boot

Epplember

September

$1230-United Press.

1.7034-36 1.7412-1.79 1.7835-16 1.7916-

2.0312-14 2.0944-2.00

83-433 07.07!

Foods

exported

In Phopmaper, totalled '15,919. Tons in July as against 17,300 tofit"in June arid

New York Bour-per 200 lb. Back, 19,200 tons In May-France-Consola

Preash.

December

February

8.40 bid

20110 naminati

27.50 d

27.34 nominali

head our who created a few | May ment or the Tresale Depart July

November

"

RIGHT COURSE

Pepper Market

New York, AVE 217

The pepper market realhed

Exchange Rates should be thoroughly discussed quiet and unchanged.

1.16 nominal Busines

(His

It added: "It is right that it by the GATT members in con- Spol material was ference was done in the local

before any move is nominally At About 2007 nominal | tinomelaju okuliangali market

awaiting release 'at drónnd, Am The British official - policy, to explicitly stated by the Govern steamer position,

a ment, is to raluse Jupun the | 31,88," August · slupment" $104, right to most favoured-nation September $1.56 and- October treatment, although she is in 21.61, a pound-Unlied Press,

15. nominai | nurning; at the folkwelry Pealeskilde, But Is this a Bá, añónty depending UPON

24.67. nominal V.9, dollar, (per 411

20.20 bid Sterling noté (per'"£1)

20.00 notul† Indonesia guilders (per 100) -25.00

28.10 nominal Blami sicals (per 100)

29.30

United Press.

Bingappa: (Btraits)

FIC piartres. (par '200)-

B4.20

20.14:

11.70: