1952-08-26 — Page 9

THE CHINA MAIL, TUESDAY, ́AUGUST 26, 1952.

MESSAGERIES WAY MARITIMES Monetary Fund UNITED STATES MOVING

M

"GRENOBLE”

"FALAISE”

Arriving Leaving

-Gept. 0

Bept, •

"LA MARSEILLAISE"

Hept. 15 ...Bept. 23

Bayt. 16

Sept. 24

.ADE, TI

Aug. 27

Sept. II

Sept. 27

5

Oct.

•

"TAURUS"

†"COURSEULLES“ .....Sept. za

**LA MARSEILLAISE" Bept. 20

*

"GRENOBLE"

......Oct.

For passenger and freight":

દ્વારા ત

M

Outward For

Гарад

Yokohama & Koba Japan

ILOTOWNIC·Wat

Balgon & Haiphong N. Africa & Europe

Marselion via Salzon

N. Africa & Europe

For freight to Salgon, Alexandria, Genoa, Algiers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:

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

Subject To Chenge Without Notice.

CIE DES MESSAGERIES MARITIMES

P.0. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

E

Tel. 26651 (3 lines).

LINES

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

"NOREVERETT"

Arrives Sails

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

"REBEVERETT"

Arrives Sept. 10 from Manila. Saila Sept. 11

for Singapore, Penang, Rangoon & Calcutta.

(Accepting marzo for transhipment Kobe/Pusan 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 Ports.

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "THAI"

Arrives Sept. 4 from Japan. Saile

Port Madras, Colombo, Bombay, Karachi, Basṛah Kharramshahr.

Sept. 5 for Singapore,

Swettenham,

M.S. "STAR BETELGEUSE" Arrives Sept. 9 from Singapore Sails

Sept. 10 for Kobe & Yokohama (Accepting cargo for transhipment Kobe/Pusan and Kebo/Okinawa)

&

EVERETT STEAMSHIP CORPORATION S/A. Queen's Building, Tolephone 31205. Chinese Department: Telophone 28293.

America Returns

To

Wartime Pricing System

Washington, Aug. 25.

more

Meeting

Washington. Aug. 26. Tho seventh Annual meetings of the Inter-

Fund national Monetary and the International Bank for Reconstruction and Development will be held from

In

Mexico City

Sept. 3 to 12.

Recti Mr

Managing Director of the Fund, whil present the Fund's annual the Board of report to Governors on Sept. 4; Mr Eurene Black, President of the Bank, will present its annual report on Sept. 5. Both meetings will be open to the public.

Closed sessions will take place later in the week, but the final meeting of the two Boards, on Sept. 12. will also be open to the public.Reuter,

Rubber Workers Gain Point

Columbus, Ohio, Aug. 25. The President of the United Rubber Workers Union said to- day that the Firestone Tyre and Rubber Co. has agreed to a full union shop and 10 cents an hour general pay rate for 24,000 workers,

Mr L. S. Buckmaster said a contract agreement reached last night raises to 110,000 the num- ber of rubber workers through- out the industry covered by full union shop contracts.

the The pay raise increaseA average Firestone wage to $2 an hour, he said. A total of 94,000 rubber workers have won pay increases in the current con- tract drive, he added.

Mr Buckmaster issued his statement after a joint company- union anouncement that told of the pay raise but did not men-

on the union shop.

president Baid:

The URW "Not only were we successful in winning a full union shop, but we were able to improve the working agreement all along the line,"

Firestone and the union have been negotiating here for eight weeks.

The pact must be approved locals, by the eight Firestone the URW General Executive Board, and the Wage Stabili- sation Board before it can be- como effective. It would be retroactive to Aug. 18, and extend to June 10, 1954.

The

provisions require all employees to join the union as a condition of employment.

Associated Press.

new

Early Gains

In Cotton Meet Selling

New York, Aug. 25. Colton futures started on met higher ground but rallies atiffening opposition.

The ensi- ness in grains and securities and the expectations of increased hedge offerings brought realising after an advance of almost $1.50 a bale,

There were spurts of activity the opening and close, In nt between, trading volume slack- ened and come to a halt at frequent intervals. Mill interests mand from that sector lacked its recent snap, redeeling

The Government reports that

than half the nation's 500,000 grocery stores will be required to post dollars-and-cents ceilings on a wide range of items by bought on the declines but de

October 1.

In a return to the uniform community pricing pro-slowdown in textile demand, gramme of World War II, the Office of Price Stabilisation (OPS) said it hopes to:

1. Let housewives know at a OPS made clear that the posted glance the celling prices on many prices will be ceiling prices and not selling prices. Grocers can basic foods they buy, and

still sell at any price they choose

The

Price

Stabiliser,

Arnall, said the community posted

pricing programme has been on cereals, irid since January in the market- and crackers, ing areas surrounding Jackson-mixes, cammed f

and

the

TOWARDS A NEW BOUT

OF INFLATION

New York, Aug, 25.

Industrial production is fitting high levels and the economy is almost back in its pre-steel strike stride.

But as the factory wheels increase their pace, the country is moving rapidly toward a new inflation spiral.

Freight carloadings are the highest since December I as raw materials roll into' the nation's manufacturing plants and Inished goods move out at a growing rate,

Electrid

power is at a hich since January.

as generating stations meet the increased de- mands of industry.

A

HONGKONG

SHARE MARKET

Construction awards have hit

More record $1,366,008,000. than a billion dollars of the awards was for atomic energy construction But it all means lots of work for more people.

· Crudo oil is pouring out at the highest rate since May. Soft coal production is the best since March.

The

Only $42,312.50 high coal production is

transacted during nocded, however, for lean business was

a

this morning's session of the ten days ahead.

Stock Exchange. Noon quotations and the morning's transactions:-

It will build up stocks to carry industry through the halt in coal mine operations called by John L. Lewis as a memorial to miners who have died in oc- cidents.

RETAIL BUSINESS

Even the cotton textile mlils,

been which have

enjoying a spurt in civilian orders, received another shot la the arm-the Government called for bids on 27 million yards of cotton sateen, Retail business is reported a little

above the level of the previous week and somewhat better than a year ago.'

the

Dun and Bradstreet, business reporting service, said shoppers responded to summer slock clearing-out sales.

There is a stirring of interest ເດ in autumn goods as store- keepers begin featuring back-to- school and other seasonal pra- motions.

It is a prolly picture. But s business and industrial activity climbs, the cost of living also advances.

LIVING INDEX UP

The Government's cost of

un

living index hit all-time high in July. it reached 100.3 per cent of the 1935-1939 average. The index was 1.2 points above the June figure and the cost of Hving

moderate income families was 12.1 per cent over pre-Korea prices and Ave per cent

above the level of last January when Federal price and wage controls took effect.

for

The biggest factor in the rise from June to July was a sharp increase in the food prices.

(From Our Correspondent)

1015

worth

01

SHARES BUYERS BELLERS SALES

HANKS

Bank East Asia

INSURANCES

Canton Union SHIPPING

An Nav.

DOCKS, FTC.

200 208

1,00

N. PL. Wharf 0.45. 015 500 in 0.45 Provident .. 12.84 S'hai Dock 1.30 Whoolock.... 42!%

LAND, ETC.

LK Hotel 0.30 0.00 IK_Lama (0) 4521 4615 Humphreys 13.30 12.50

UTILITIES

Tram XO

Train (0)

101%

P. Tram (N) 234

C. Light (0) 095 0.90) Electric... 02.20 Telephone. 1720

INDUSTRIAIS

The rising index gave another three conts un hour to more than a million motor-car workers whose wages are tied to ille rise and fall of the consumer price. Index,

Coment Hope

STORES, ETC.

Dalry Watson

20.70 47.10 .10.20

100 @ 133

200 212

100 5 1330 300 € 1730

20.002723 250 € 27 Crawford 3.20 L. C. (RL)

COTTONIS

MISCELLANEOUS

Yangiame

9

Th 0.10

214

2000 # 5

Foreign Exchanges

In NY

Canada England-official

*

New York, Aug. 25.

US$1.04!”

2.70

unofficial

Walter Reuther, head of the Australia CIO United Auto Workers, sald, New Zealand however, that bis union does not Belgium

South Africa welcome the circumstances of Denmark the automatic pay increase.

"The wage increase," he said. Holland

West Germany "does not compensate for all the Italy damage done to the people and our nation by runaway inflation."

"A BOOMERANG"

Norway

Portugal

2.50 bid

2.773

Japanese To Sign

Trade Pact With Italy

Tokyo, Aug. 25. Informal talks are in pro-

between

the

Japanese Kress Government and the Italian Embassy preparatory to formal negotiations for the conclusion of a trade and payments agree ment which will open early in September when on Itallon trade mission is to visit Japan, of sccording to a spokesman Ike Ministry of international Trado and Industry.

A spokesman said current in- formal talks concern themselves with an item by item xrview of goods on the proposed export- import Ust. He revealed that

"TIWANDI

*TJ{PONDUR"

"DOIESEVAIN"

"STRAAT

MAKASSAR" UTIIWANTIRN "THBENTENGTM

"TJISADANK"

STJILUWAI"

Dept.

Bapt.

Bept.

}

Fept. ท

Art. 30

Hopt. 13

Sept. 15

Bapt. 14

ROYAL INTEROCEAN LINES

SAILINGS:

'EmExpers,

BREITENL

DKT. TfirsDUD. ŚWIDNICKS.

Burabala, Mincassar

Menua, Singapore. Mauritius,

B. Africa 8 America

Japan

drogan

Mania, Singanore, E. & D. Afélca ingapore, Fenang & Bolawah Den

. Stogapore. Djakarta.

Surabala a Mnommar

Japan

Djakuria, Tire brom

Surabaja B Mincassar

Singapore, Djakarta, Bemarang,

Surabala & Nincasar

Japst Japan

Manila,

Abgapore,

8. Africa & S. America Singapore Yenang & Beinten Neli Manila, Dingapore. E. & §., Ahica Djakarta.

Semarang, **Treben, Burabala & Macassar Bingapore, Djakarta. Semarang,

Purábala & Mincuent

Заряд

Barabain & Machikar

Singapore, Penang a Delawan Deli

Singapore, Mauritus, 8. Afrion &

8. America

ARRIVALS

"VAN HEUTSZ" НЕЗАКАЗЕРЕК"

"TJIWANGU

"TJÍSAÐANK"

"TEGELTENO"

"STRAAT

MAKASSAR”

*VAN HEUTSZ"

"TSINANTIET" *TIONA#"

Dept. 18 Bopt, 29

Det 2

Oct Oct. 8

Oct.

Ort.

10

Oğl

'030

Mauritiu

singapore, Djakarta. Semarang.

*TJILUWAII**

Oct.

10

*TSIPANAS" "RUYE" “TJIWANGI"

Oct.

17

Зарам

Nov.

Nov.

"TAIMAN" "TJIPANAS"

TJISADANE"

Nov,

Nov.

Nov.

"THIYANGI"

"BOISKEVAIN" *STRAAT"

MAKASBAR" "TJFONDOK" **TIBANTJET" "TIMENTENG"

"TLUWAT" way annually

the Japanese Government would attempt to set the trade volumo between the two countries at $20,000,000 cach in order that dhe dollar open account will work without leav Ing Japan with a large over- balance,

Much will depend

on how much rice Italy in prepared to export to Jupon, he said.

Meanwhile, the Foreign Office refused to comment on Press reports that Japan and Italy are signing a provisional treaty of commerce and navigation probably by the end of this month.

Prese reports said the treaty contains provisions for most

nation treatment favoured

Router.

TEXTILE OUTLET

Osaka, Aug. 26. Osaka collon textile exporters have urged the newly-appointed Japanese Ambassador to Pakis- fan, Mr Kiyoshi Yamagata, to de his best to develop Pakistan into a major outlet for Japanese tex- tile goods, the Press reported today.

Aug. 27

Sept 5 Nept. @

Bent. Sept. 9

Bept. 10

Sr. 12

Djakarta. demarang. Burabzin

Маслид

RENCASSET.

Jupi

*

From

Somatang.

Burabola, Djakarta & Singapore

#. America, B. Africa, Mauritium,

Singapore & Manha

JADEN

Indonesian Poria

Japan Macassar..

Aurabals, Hemarang,

Diskarta & Singapore

KING'S BUILDING, Ground Floor,

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS, 31190, 25113

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "TREIN MAERSK❞

ARRIVALS FROM U.S.A.

M.S.

PETER MAERSK"

Ex-

M.S.

"NICOLINE MAERSK"

M.S.

M.S. "ANNA MAERSK❞

M.S. "LEXA MAERSK❞

Mr Yamagata, now on a four of Japan before leaving for his now post, was asked by porters to negotiate with the for the Pakistani authorities establishment of "branches Japanese textile firms in Kera- chi and other cities because the Pakistani Government favours allowing branches of Japanese firms dealing in capital and construction materials.

Referring to the deadlocked negotiations

оп raw cotton the Purchase,

exporters told the Ambassador that he should rot misjudge Pakistan's potentialltles

# stabilised market for Japan on the basis of "what is seen and heard ut the present moment".-France- Pressc.

ts

The Rubber

Markets

London, Aug. 25.

Prices of rubber futures

Number. 1 rubber, per Ib.

September

October/December

January/March

United Prem.

NEW YORK MARKET

New York, Aug. 25.

Prices of rubber futures

Sept. 2 Sept. 15 Oct. 2

"NICOLINE-MAERSK”.... In Part Buoy A-2

Oct.

Sept. 19 2

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos. 86066-9.

natin.

Dates, and rotation subject to change without

PENINSULAR

QUI

SEPARABL

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CORFU"

1.63 asked

30-day futures 90-day futures

2.751

1.78

2.79

030035

1455

.00201

7335

2037

0010

.1435

closed today as follows:-

0350

Spain

in pence

2012-2

Sweden Switzerland MIDDLE EAST

1835

2014-12 24-2112

2.3312

April/June

23-231%

03125

2.70%

.1575

0725

0350

0103

1,00

closed today 90 to 130 points lower with sales totalling 80 SAILS: contracts. Easiness in London

1104

.0044

3100

0003

and Singapore, plus continued lack of factory interest, spurred liquidation and a hedge-selling

2002

September

October

1750

,0000

November

December

22:00

360 yen to US$1 United Proj.

January (1033) February

25.50 nominal 30.23

March

April

May

Juna

July

25.40

August

25.12

September

October

22.08

November

24.30

Spot

21.24

Iron Age, metal-working trade Egypt weekly, referred to "the next Tran round of inflation" and said the tran

Turkey entire cycle was started by "the LATIN AMERICA super-generous ware increase

Argentina rise suggested by the Wage Brazil

Board" in the steel Boilvia Stabilisation

Chile industry.

This

Colombia boomerang will increase Cuba sts to thousands

of mana- Mexico facturers," Iron Age vald, "and Peru

Uruguay now threatens to afflict many Venezuela with higher wage contracts. FAR EAST Whether subsequent indiation will | TRAI

costs

be moderate or sleep is guess-Pakistan work."

Factors helping to hold ag gressive selling in check in- cluded the continued hot and dry Texas weather and the un- volume of light

Census Bureau The ginning through mid- at 442,430 bales or an August increase of 268,083 bales over

tors, washing machines and other August 1, but showed a sharp reduction

home appliances are compared with the

going up 653,153 bales reported for the same time last year.

Honghong Indonesia Inflationary indications closer Singapore

included such Japan to the consumer items price

la increases carpets, higher rates for car lability insurance and indica-

tions that the prices of refriger-New York Sugar

soon.

to

the

Running contrary general trend is an item from New England.

vill, Fla., Fargo, ND., and gelatines and puddings, lard and other quarters said it is too earlyants agreed to accept pay cuts.

Futures

movement,

21.75 bid 28.00 nominal 17,42

20.76 bul

23.00 bid

23.75 nominat

$25.50 bid

23,45 nominal

-United Press,

LONDON TIN

New York, Aug. 25. World sugar futures closed unchanged to 3 points lower with sales totalling 12 contracts. Contract No. ◊ closed 1 higher with sales totalling 15 contracts.

Prices closed as follows:-

Contract No. 4 (world)

4.05 nominal 400 bid 200 nominal this morning with turnover of

2. Relieve grocers of calculating so long as it does not exceed the Individual ceilings on the Items ceiling. which must be posted.

food Items on Among the Ellis which ornet

cellings will be

dairy Aro

products, coffee, cocoa, biscuits flour and four

In view of the large crop pro- and meals mise this year, the difference

At Pawtucket, R. 1., some was rather surprising. However, 2,000 workers in two textile Freme, Calif., and has proved a shortenings,

mayonnaise success, Both consumer and trade i salod dressings, spices and to draw a definite conclusion on

A CIO textile workers official groups have asked that it be con- seasonings, pet

milic, that score. More interer, were foods, tinued, OPS officials said.

sald 1,750 workers at one plant syrups and many canned soups.

directed toward Now the programine

thetook an eight and one-half cents being will be

will not include Government crop report of Sept. hourly cat extended to 52 more areas, In The ceiling

and 250 at another the which 75,000,000 people do their fresh, frozen and canned fruits 8. The deterioration in agreed to a nine-cent-an-hour October

Cst because.

the shopping

and vegetables, which

is expected to be im- said about 40 per cent of longer wubject to price controls. OPS

These roductions ard in line July portant yet other quarters feel the approximately 5,000 items These items, making up

that af a sold by grocerS

will be eligible estimated 21 per cent

the improvement in the for selection for price posting.

food family's

costs,

were Eastern and Central belts since the last Government report will however.

be a compensating factor. Meats account for the remain- will

The celling its showing the ing percentages of food items.

The community pricing pro- seiling food Items in a particular gramme will not immediately community.

require pablle posting of collings Under the new method, OPS on boot, pork, veal and other field offices will determine menta OPS hopes to have meat points higher. Prices closed to

dre no

Not all of them will be empted by Congress on July 1, :

OPS district

on about 300 of the best-

of

un-

markot opened changed to up 13 points. It rose to net gains of 15 to 28 points, then casod to close only 4 to 11

wholesale

ceiling's ́costs in the area and

postel

day at follows;~~~ eventually

must label on Spok then apply the species mark uby: Thi will provide the uniform the selling price on meat disctober celings which will be printed on played in counterenses. clikits and delivered to the Will continue to do so, and inust groods for public posting: |not sell for more than the celling Generally, OPS said, retall | in their area. Aksociated

Press, prices, will not be affected.

Butchers now

$50 nominal

38.30-18.51 3843-30.48

pay cut.

-to

September

January ΜΑΤΕΠ May

да eight and one-half | September with Cont eut by

arbitrator Spol Fall River and New ·Bed-} November ford, Mass., texiko workers to place the mills in a better com- petitive position with Southern plants-Associated Press.

JAPANESE BONDS

Japanese batām,

They December

Monch Hay July October December

20.10

20.70.

Consols

United Pete.

London, Aug. 15.-

M

(54, 0f 1910),, : 08; (4. of 1997).. 1244 158, of 1931).. 93 (Dīša, of 1930) 1851)

w-Unitad Press,

March May July Beptember Spot

MARKET

London, Aug. 25.

The tin market was steady

75 tons of which 35 tops were

3.03 nominal | for cash. Prices closed at the

end of the official

9.00 Dia

Contratt KA, GÜ

JDE DIJ

4.01

0,97 Dia

8.58 bid

5.12 båd

Unified Prem;

Exchange Rates

jmcasion as follows:-

Spot tin, buyers

Epot in, salfors

Business done at

Tinee-moniitä tin, buyerD [Three-months tin, welters

Business done a Bottlernent

Buses was done, in the oral thomcial exchange market ป Tortung: mi the fällowing, zatest-

0.00 U.8. dollar (per: 81) Sterling nale (por({1}

| Blam:ticala (per 100)

18.63

Indostala guilders (per 100) 20,00 H.00

* Amgupoew · (Straits).

FIC plastres. (per 100)

11.00

morning

United Press.

Copra Quotation

100%

New York, Aug.” 25. „Cópra „was quoted today at $140.00 per short ton, asked. Cocoanut oll was quoted at 0 sents a pound, arked-United Prcco,

NOTICE TO PASSENGERS

BAGGAGE:

THURSDAY the 28th August at 12.00 Noon for the UNITED. KING- DOM via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 Gate, Canton Road Entrance By Noon on WEDNESDAY the 27th August,

1962.

SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co's Godown for loading on board by ship'a slings only.

EMBARKATION: Will take place THURSDAY, the 28th August, 1952 between 9.30 am, and 11.00 a.ni.

Business Cards?

Orders Completed

In 24 Hours

The South China Morning Post

PRINTING DEPARTMENT.