1952-08-27 — Page 9

MESSAGERIES

MARITIMES

MO M

*GRENOBLE"

Arriving

..Sapt. 0

**LA MARSEILLAISE” „Sept. 15

"FALAISE” .............................Sept. 23

"TAURUS"

+"COURSEULLES"

"GRENOBLE"

Leaving

Outward For

Sept. ⚫ Japan

Sept. 18

Mept. Ri

Aug. 27

Aug. 27

Sept. 10

Sept. 12

Sopi, 27

Oct.

"LA MARSEILLAISE", Stpt. 28

....Oct.

* For passenger and freight.

ย

Yokohama a Robo

Japan

Hotnoward For

feron a Truong N. Atrion ↳ Kurope Marsellies via Salzon

N. Africa & Karope

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

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

Bubject To Change Withons Nolics.

CIE DES MESSAGERIES MARITIMES

Queen's Building (gr. floor)

P.O. Box 58, Hongkong

Tel. 26651 (3 lines).

EVERETT

E

LINES

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

"NOREVERETT”

Arrivos Sept. 5 from Singapore, Salls Sept. 6 for Japan.

"REBEVERETT"

Arrives Sept. 10 from Manila. Salls Sept. 11 for Singapore, Penang,

Rangoon & Calcutta.

(Accepting carzo for transahipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Slam, Malaya, Coylon, West Coast Indian and Persian Gulf Porta.

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "THAI"

Arrives Sept. 4 from Japan.

Balls Sept. 5 for. Singapore,

Port

Swettenham, Madras, Colombo, Bombay,

Basrah Karachi, Kharramshahr.

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

Sept. 10 for Kobo & Yokohama (Accepting cargo for transhipment Hobo/Puzan and Kobe/Okinawa)

&

EVERATT STEAMSHIP CORPORATION S/A -

Queen's Building, Telophone 31206. ́Chinesa” Department: Telephone 28293.-

Spirited Rally In Cotton

New York, Aug. 20, Cotton futures milled spirited- ly at the close, ending a session cf graduaty rising prices.

Shorts

Стор deterioration reports from Texas seemed to be exert-

and more influence ing more over market sentiment.

unetey in became increasingly face of the Texas and Oklahoma they movedi crop nows. When

Agreement On

Payment Of Pre-War Debts

Tokyo, Aug. 26. The Japaneso Vice-Foreign Minister, Mr. Shinichi Shibusawa, stated today that Japan and France had agreed that a "cer- lain sum of money" from Japan's balance (or surplus) in the trade open account be earmarked for preliminary payments of Japan's Pre-war debts to France.

Mr Shiburawn

to cover at the close, stiff com- specify the amount. petition was met from

trader

Interests for the limited supply

of contracts.

THE CHINA MAIL, WEDNESDAY, AUGUST 27, 1952.

European Trade With Brazil ROYAL INTEROCEAN LINES

London Stock Exchange

BUSINESS SHOWS IMPROVEMENT

A

over

(From Our Correspondent)

London, Aug. 26, Businces on tho Stock Exchango has shown marked improvement the last three working days, and brokers, aftor watching prices in all sections alide for many months, now hope turn has been

that the reached.

For works back investors and speculators have been idle, and brokers, who more often than not swim with the tide, have advised clients to delay their purchasca.

May Be Carried Out

On

A

Barter Basis

Rio de Janeiro, Aug. 18. There are indications that Brazil is consider- ing a resumption of barter trade.

Pressure is being exerted by Brazilian and European interests who see in a renewal of barter trade the means to sustain their market hero, to secure supplies and generally tide over the present altuation.

Official Brazilian views are divided on the malter,

but, meanwhile, Britain's competitors are exerting all efforts to establish themselves in the U.K.'s place in the Brazilian market. Authoritative observers here wondering just how long Britain can afford to continue her policy of "walt and sec."

are

monthe

exports around

British and Brazilian Interests. During the first six here, except for urging the of this year Britain's negotiations to Brazil amounted to necessity of trade Et official level, have put for £91m. (A good part of theso ward no real cohesive solutions came in under extended com- to the Anglo-Brazilian trade pentation licences granted Jast The market, however, is now problem.

The main items were year). showing a sudden liveliness and

But

whatever the official again machinery and vehicles, samo the tone has considerably im- British view may be as regards Britain's Imporis in the proved following its long shake-barter, it was, and many traders | period, on the other hand, out.

here feel it could be again, a dropped to £10.1m., of which means of restoring life to trade coffee accounted for just over between the two countries. £3m.

The improvement, led by gilt edged, is due to a number of reasons,

For one, slumps and booms are nearly always "overdone" and the bellot is gaining ground that the recent month's slide has also been overdone. Further, Jobbers, In view of the heavy fall in In- dustrials, have been bears of War Loan as a hedge against stock held on their books. And bears have recently been covering in view of the danger of being caught short.

GOOD NEWS

The small Invertor, who has been hanging back for a long time, in showing signs that he wants to "got in at the bottom". though the bottom may possibly have already been touched and passed.

Also, there is good news in the Treasury's monthly economic which stresses the

COTTON PURCHASES

Taipei Experts

For Japan

Taipei. Aug. 20, A troup of Chinese shipping and navigation experts headed by General Yu Fel-peng la to leave for Japan on Thursday for one-month inspection tour,

The

troup is comprised of

and representatives experts of the Nationalists biggest shipping companies and dockyards. — Unlted Press.

HONGKONG

SHARE MARKET

(From Our Correspondent)

AHARES DUYERS BELLERS BALES BANKE

Barter meant that Britain was

It is not clear what Britain's able to buy in Brazil at world prices, and la some cases at purchases of Brazilian cotton below current levels. More im- will be this season, if any, and portant, the British exporters normal sterling trade has de Business improved On the received prompt payment.

pended on

on cotton as dollars do Stock Exchange this morning. Today, Brazil lacks exchange on coffee,

with $100,032 worth of shares all over the world. The official British view cover

is changing hands. Noon quota- Sterling awolting remittance in that these purchases "are sub-tions and the morning's trans- August is estimated at around Ject to price. But the inescap-uctions:- £33m. As ragarda dollars, withable fact is that the price

almost im- Brazilian cotton, today

20 per cent, higher than prices, has little chance coming down. Paulista cotton is being bought up by the Bank MEETING SITUATION

of Brazil at a price which ex- To meet the situation Brazil cludes it from normal resale. faces either devaluation, a step

The only solution might be ter for which she has repeatedly de

de the proposed free exchange nied she

will take; free CX-

exports of certain higher-priced change for exports of certain

Brazil, howoVCE, LAND, KIC. tain commodities. goods; or a reintroduction

of still hopes to dispose of cotton barter transactions. At this in part payment of some of her stage it would seem that che

a tightening-up of dollar ports and with coffee shipments now moving, the position tends to improve slightly.

Lost

in the balance of Ƒ cannot quite make up her mind.

And

J

arrears,

of

US

JK Bank.. 3420

10 1434

of

INSURANCES

Unson..

150

SJILPPING

1.00

Asia Nov.. DOCKS, ETC.

1. Whart... 0814

1K Hotel

N. P. Wharf 0.40 8.55 Provident... 12.80 S'hal Dock. 133 Wheelock

4214 63

0.35 0.00

13

HK Land

(01

40 1015

de- CX-

(N) 76 437

100

Humphreys. 13.70

UTILITIES

Peak Tram

With her big plans for velopment and industriai pansion, Brazil is badly in need of capital goods, a wide rango thent

of engineering products and raw materials. Germany and

to a lesser extent Japan, and Italy, France and other Euro- are not only en suppliers,

goods but offering those also apparently prepared to dis- cuss with the Brazilians on the

Under the barter system in- Industrial companies, troduced by the former Govern- which over recent months have ment and discontinued in prin

early last year, been sellers of git-edged for ciple

between capital expenditure, have

now difference

the world price of Brazilian products and In the main brought this action 1o an end.

their

quotation internat

was 10

Finally, there are big Govern- passed on to goods specifically conversion operations imported against these exports, ment

amounted This difference looming ahead and the market anything from 20 per cent, to to 80 per cent. countries

Less than a year ago only 14 portunities for British than Brazil.

Brazil in 1051 Imported from Britain well over one-third as much in value as the US or and almost half as Canada, much as either India or New Zealand.

will have to be "preparod" for them.

In November,

£450 million of serial funding stock will be converted. In March, provision must be made for the final

of £522 maturity

million of National War Bonds,

NEW YORK

FOREIGN EXCHANGES

New York, Aug. 20.

US$1.04

Canada England-ofcia)

H

unomcial ....

30-day future 90-day futures

Austraila New Zealand

Spain

2.787 2.30 bid/ 2.63 asked 1.77-7/16 2.70-11/16

South Africa

Belgium

2.70 01

Dazumark

.1455

Prance...

.0020

West Germany

#2385

Holland

37

Italy

,0010

Norway Portugal

1405

.0350

0264

Sweden

1035

Switzerland

MIDDLE EAST

Egypt

2014

Iran

03125

Ireq

2.701%

Turkey

3315

LATIN AMERICA

would

not

Argentina

0725

Brazli

.0350

Holivia

0103

.008

Colombia Cuba Mexico

4025

1.00

.1164

Peru...

0044

Uruguay

3700

Venezuela

3003

FAR EAST

India Pakistan

2004

2025

3750

Indonesia Singapore Japan

0000

1200

340 yon to US$1 United Press.

Chile (Some tima ago Japan tet aside £20 million in London and $20 million in New York, to honour Steadiness of the other out-mark her intention to side markets alded the rally, her pre-war external debts. Also a feeling has developed

lull in textile

D

(Japan's pre-war debt to that the current

was temporary, that France is estimated at approxi- buying manufacturers were still under-mately 580 million gold francs tongkang

sustained Her surplus the trade open bought and that

withs France is period of stability in raw colton account will find manufacturers back estimated at £10 million. in the goods trade for more sup→ plies.

(Talks between British, bond and American

Trade reports from Memphis French

that area holders and Japanese Govern- New York Sugar said that fariners in wore selling about 80 per cent ment representatives on settle

governmentment of Japan's pro-war debts

of ginnings.

The

now proceeding

weekly crop summary was mixed are

York)-Reuter.

but was considered mostly un- favourable. Urgent demand for contracts at the finish followed

Spot

points. the Government summary.

It sald

the follows:-- that in Texas serious drought and intense heat generally caured the condition october of the crop to decline consider December ably. The Southern Oklahoma May drought sections also suffered July

October severely.

December

There was improvement in the castra and Middle sections but.

traders doubled

whether

March

in New

Prices closed today as

51.84

30.72-38.74 30.03-30.01.

33.40 37.00

Futures

offered bettor

op-

exports

Bre

Spot means to establish a two- U.K. ATTITUDE

way trudo,

A resumption of straight bar- ter dealing between Britain anti Brazil would be against, all the trends of the United Kingdom's current trade polley,

Such deuls are contrary to many international agreements and to the whole spirit of a liberalisation of world tratte and on these lines there is little hope of Britain changing her attitude that Brazil must bring

But today, due to circumstan ces, some of them admittedly inevitable and beyond control, Britain is threatened with 10s ing a market to a competition prices of her oxports into line which would seem to take with world prices. long-term results, 34 distinct Times,

from immediato causes,

Into account

more

U.K.'s TRADE POLICY Britain's trade policy towards Brazil is described as being ont of "wait and see.' The with drawal of cover by the Export Credits Guarantee Department of a ified as evidence

of

Financial

The Rubber

Markets

Tram XD. 10.30 18.00

(N) 13:

Star Ferry

est

100 100

C. Light (0) BB0 8.35 1300 8.80 CLight IN) 500

... 22.30 Macao Elec.. Telephone INDUSTRIALS

Comen. 16.00

1012 .. 17.10 1

0

200 22.40

17

600 10.80

000 10.00

Rope

STORES, ETC.

Dairy Watson

19.20.

10.70

2727.40 2111 27

"TJIWANGI*

TJIPÒNBOK"

"DOIGGEVAIN"

"STRAAT

__MAKAJBAR" "THIHANTIT "TJIMENTENG" "TJIBADANTS "TJILUWAI

"VAN HEUTEZ" "TJIKAMPEK"

"TJIWANOP"

*TJIBADANK" "TEGELBERO"

MAKABBAR”

*Maps.

Sept.

SAILING B

Singapore,

Beph T.

Dept. BOL. 10 Babt, 12

sept. 18 Rept. 10

Sept. 18 Sept. 2

To

BIMATANE,

Marabála & Mačacie Djakarta, Titrebon, BUKETARS,

Borabala Macarsar

Manus, Singapore.

Madelika

1. Atties à à America

JAPAN

Jepan

Manila, Singabote, E. & §. Atzich Hingapore, Penang & Delawan De Min part, 1)jakarta. Remarang,

Surabala & Macassar

JAPAN

Djakarta, Tiretrom, Seinatang.

Surabale & Macassar

• Bingapore, Djakaria,

Búrabíla & Mathiker Japan

Japan

.

Semarang,

·

Atantia, Bingapore, Mauritius

M.Africa &. Amarten

Singapore. Ponaḥg & Relawan Deli Marille, Singapore. §. & D... Afric Bjakarta, Titebon, Semarang.

Surabala & Mackier

Oct. A

Oct

Get.

"STRAAT

Oct.

"VAN BEUTIZ”.

Oct.

10

"TJIDANTJET"

Des.

10

"TINUDAS"

Uci. D

"TJILUWAN"

Oct. 15

"TJIPANAB" "RUYS" "TJIWANGI

Ort.

• Sxpan

Nov.

Japan

Nov.

Ningapore,

"TARMAN" "TJIPAÑÁƑ”

"TJIJADANE”

Nov.

Nov.

5

Nov.

9

TUWANGI"

"BOISBRVAIN" "BTRAAT"

זן

Яingapore,

Djakatin

Aurabala & Macar

Djakarta.

Mirabain Machtans

BOMAZEDS

Bematang,

Bingapore, Penang & Belawan Dell Djakarta Beniarang, Durabala a

Macascar

Hingapore, Mausklai, B. Afstra

S. America

ARRIVALS

From

MACKIJAT, Surabala,

Djakaria & Bingapore

• Japan

SEMATADE.

8. America, B. Africa, Mauriting

MAKASSAR" "TJIPUNDOK"

"TJBANTJET"

"TJIMENTENG"

Aug. 21

Sept. Sepi. 4

t Rept. 9 Sept. 10

JAPAN

Sept. It

Macasar.

"TJLUWAB"

Sept.

Aingapore & Manila

Харад

Indonesian Ports

jakarta & Bingapore

KING'S BUILDING, Ground Floor,

Surabata, Bemarang,

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS. 31190, 25131

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO;

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA. NEXT SAILINGS

M.S. "TREIN MAERSK"

M.S. "PETER MAERSK” M.S.

NICOLINE MAERSK”

M.S. "ANNA MAERSK”

'M.S.. "OLUF MAERSK”

ARRIVALS FROM U.S.A.

M.3. "LEXA MAERSK"

NON

Sept. 2

Sept. 15

Oct.

2

Sept. 10

Sept. 22.

Oct. 24

For Freight and Further. Particulara please apply to:-

AGENTS:

JERSEN

Grain Prices Fedder Building.

In Chicago

Chicago,--Aug.-26.

Chicago grains were generally mixed, stemming mostly from the weakness of vegetable olis while most major commodilles moved

Irregularly In

quiet trading with the balance slight by favouring the higher sido. Wheat closed Y lower to

** higher

soybeans were 34 higher to lower. Prices closed

and

today as

follows: Wheat-price per bushel

Spot

Maren (1983)

2.20-2.23

5.203 2.3931-** 2.4214-70

2.43

1.7846-12 1.7915-1 1.77%-

September

December

24-2614

May

24-2432

Corn

24-2432

Spo!

21-242

September

2355-25

December

23-2345

March (1833|

May -United Press.

1.78%

NEW YORK MARKET

Prices

New York, Aug. 20.

of rubber, futures

Rye Spot September Osta Spai

1.952-1.03 1.00-14

September

0316-77 656-14

of objectivity," and these views are, now being widely

London, Aug, 20. ochoed in the Press.

Prices of rubber futures closed Meanwhile, other European today as follows: countries are taking over from Number 1 rubber, in where Britain is leaving off, pence per lb, and trying

their October establish to

December

Delober/December position for the future.

already Japan,

has January/March Who

April/June favourable balance with Brazil of over US$10m., is negotiating an agreement which should this guarantee her a share market which otherwise would

ould closed today 20 points lower to gone to Ger- probably have

the 10 points higher with sales many. Japan will supply

US$35m. totalling 68 contracts. Replace- equivalent of over worth of machinery, equipment ment buying for technical rea

zons and higher cables promot- and ships in exchange for coted the early firmness. Prices

and other hides, confec

closed today as follows: agricultural products amounting September

20.63 bld October

3139 nominal 27,43 nominal A German mission is now in November Rio reviewing the whole ques December tlon of German-Brazilian trade January (1953)

February and Brazilian debts on what is March Hescribed as "a pre-determined April basis that this trade should not May

Juna suffer restrictions, much Icas

July interruption.

August September October November Spot

(to some US$38m.

PATTERN CHANGED The lists of goods to be ex- changed under the Brazilian- German trade agreement are to be reviewed as regards quan tities and Germany, Is clearly

trying to avoid an impasse such na is now faced by Anglo- Brazilian trade,

past

The pattern of Brazil's 1m- ports hor changed in the four years and Britain's exports to this country since 1948 are a

20ns bid

26.00 nominal

26.43 nomunal 20.10

25.85 nominai 23.60 bld 25.52 nominai 23.45 nominai 28.34 nominat 25.2% nominal

24,45 nomina! 27.75

New Tork Bour-per 200 1b, Back, $12.00.- United Presi,

LONDON TIN MARKET

London, Aug. 26. The tin market was steady in the morning with á turnover of 60 tons of which 45 tons wero for cash. Prices closed at the morning

25.00 nominal end of the official

Bessian as follows:- Spot tin, buyers Bpat tin, Bellers Business done at Three-months tin, buyers

-United Prosth

JAPANESE BONDS Three-months tin, sebers

London, Aug. 26.

Japanese bonds

"A" (98, of.1899) "E" (4 of 1810) "C" (43. of 1007) "D" (0s. of 1084) "E" (3s, of 1930)

Consols

2014

133

03

154

60% —United)Press. ›

Manganese In U.S.

New York, Aug. 20. World sugar future closed 1 point higher to 3 lower with zales totailing 20 contracts.

Contract No. 6 closed gn-

gaugo of tke trend. Whito in 10.50 nominal changed to 1 paint lower with 1940 six broad categories of

sales totalling 74 contracts.

goods namely, machinery; Price clomil today as follows:- vehicles; chemicals; non-ferrous Contract No. 4 (world)

metals and manufacturco; tools, 4,05 naked September

401 azked

cutlery and Implements; October

34 nominal steel-Becounted for 98 per cent. 330 nominal of imports from the UK, in 300 nominal 3.01 mathinat 1901 this proportion, had risen

to almost: 72 per cent.

shift is accounted for al .The most entirely by the intronso In imports of machinery and vehicles, two itere particular ped by the former, which are at the

35,85 bla 19.73 bid -United Press. NEW ORLEANS MARKET

betterment there could offset the Spot lapses in the Western belt. The October tendency now is to look for a pesenter s

March lower Government crop estimate | Mit-

July

on September 8.

October

The market opened up 7 to 10 December pointă und closed up 22 to 84)

38.05 36.77-35.79 38.00 $8,40 30.40-30,42 27.07 Did

35.00 Dick United Press.

January

March MAY... Jub September Apot, ki Contrapt No, d November Merci MAY

3.01 G

BAT

bid'

September Spot

0.12 nominal

United Prek

And

Busine dont at Battlement

003

9:0

-United Press.

Exchange Rates

Ikwinews was done in the local

Dielai exchange market morning at the following U.S. dollar (par $1) Sterling Note iper 411

Indonesia rullders (per 100)

Slam cats (per 100) | Singapore." (Siralls)

FIC piastres (per (to)"

this

Tates:-

0.43

18.23

23.40

34,00 (0,10 140

Copra Quotation

Santiago, Aug. 20. A shipment of 2,400 tons of manganeso to the United States -was- authorised by the Chilean Government today. The Minis try of Economy and Commerce

↑ New York, Aug, 20. said, the motel would be ship-|Gronto (van quoted today at $140.

from the

minesin per short ton, nominal, Cocoa- Northern Chile, mainly Id-nut'off' was quoted at 95 cents. top of Brail's list of priority Coquimbo provines. - United - pound, nominal - United.

Preas. Imports.

Press

& CO.

Dates and rotation subject to change

PENINSULAR

SEPARABI

Tel. Nos. 86066-9,

without notice,

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CORFU"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

SPECIAL NOTE:

EMBARKATION:

THURSDAY the 28th August at 12.00 Noon for the UNITED KING- DOM via Straita, 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,

1952.

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.

Will take place THURSDAY, the 28th August, 1952 between 9.80 a.m. and 11,00 a.m.

Business Cards?

Orders Completed

In 24 Houra

by

The South China Morning Post

PRINTING DEPARTMENT

t.