1952-08-28 — Page 9

Y

THE CHINA MAIL, THURSDAY, AUGUST 28, 1952.

MESSAGERIES MARITIMES STRIKE POLICY FALLACY

MOM

Arriva

"GRENOBLE” (A...Sept.

**LA MARSEILLAISE” ..sept. 15

*TALAISE”

**COURSEULLES"

Leaving

..Sept. 23

Apt. * Sept. 10 Sept. 1

Sept. 10

Sept. 11

Supk, 17

*

Oct.

LA MARSEILLAINK” ..sept. ze +"GRENOBLE”

...Oct.

For passenger and freight.

MAmerican Steel Walk-Out A Typical Case

Outward For

Japa

Tokohama & Kofa Japani

Homeward For

N. África & Europe Magpofiles via Bulgon d N. Africa Europe

↑ For freight to Salgon, Alexandria, Genoa, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdamo. Accepting cargo:

-Via Marseilles to all Mediterrancan & West Africa Porta. -vla Djibouti to Madagascar,

Kubject To Change Without Notion,,

CIE DES MESSAGERIES MARITIMES

P.Q. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 26651 (8 lines).

LINES

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

"NOREVERETT”

Arrives Sept. 5 from Singapore. Sails Sept. 6 for Japan.

"REBEVERETT"

Arrives Sept. 10 from Manila.

Salls Sept. 11 for Singapore, Penang,

Rangoon & Calcutta.

(Accepting carzo for transhipment lobe/Pusan and Kobe/Okinawa)

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

FIRST CLASS PASSENGER ACCOMMODATION M.S. "THAI”

Port

Arrives Sept. 4 from Japan. Sails

Singapore, Sept. 5 for

Swettenham, Madras, Bombay,

Colombo,

Karachi, Basrah Kharramshahr.

M.S. "STAR BETELGEUSE"

Arrives Sept. 9 from Singapore Sails Sept. 10 for Kobe & Yokohama

(Accepting cargo for transhipment Kobe/Puma and Kobe/Oklisawa)

EVERETT STEAMSHIP · CORPORATION 5/A Quson's Building, Telophone 31206. Chinese Department: Telephono 28293.

&

Active Trade Mixed Trend

In Cotton

In New York

New York. Aug. 27. Colton market bulls fastened their hold on the situation.

In Grains

Chicago, Aug. 27. Chicago grains were mixed generally, with a slightly higher avertone stemming from the strength of vegetable oils whilo most other major commodities showed a higher trend generally. Wheat closed today 10 higher and soybeans were 1% to 2 higher.

In active dealings, prices pushed. ahead from the start to finish almost on the tops and up as much as $1.80 a bale.

Concern over the crop situa-Spot tion

the generated

power.

Prices closed today 403 follows:-

Wheat-price per burhel September lifting December

Atarch

May

The failure of hedge-selling Com 10 Increase material after Spot

September 'October crossed the 30.00 cents December

March level made bulls more daring.

At 30.20, October was at its highest level since August 8

The market opened up 3 to

11 points and closed 6 to 38 poln's higher.

Pricea follows:

Spot

-October

Decarbor

March

May

July

October December

closed

today

49

40.10 nominat 39.20

30.05-28,07

34,00

34.01

33.77 bid

United Prem

LONDON TIN

MARKET

May

Rye

Spot Beplember

2.28-2.014 2.3014-7

1.0419-1.0512 1.7015-2 1.73-

10414 1971.

1276-81 pat September

07-0734 New York Hour-er 200 lb. Sack. 12.10.-Unlied Prem.

New York Sugar

Market

New York, Aug. 27. World'sugar futures closed to- day 1 lower to a higher with cales totalling 49 contracŢA,

Contract No. 6 closed 1 to 3 points higher with males totall- ing 202 contracts.

Prices ckned today 46 follows:-

Contract No. 4 (World)

September

October London, Aug. 27. The tin market was steady January

March

but viktimlly Idio with turn-May over only 10 tons, all for Jay forward. Prices closed at the September

Spot end of the official morning

session as follows:-

4.03 nominal 4.00 bi

356 nominal

3.33 Bld

...

201 Dominat

301

4.07

Contract No.

Spolin, bayars",..........

Spit Unbellen

90-4

Duvirions dorsé að

ThưOn the tin, buyere .. DLS

Three-monthe tin, soliera zv. pep Bus crónid, at

Ballethorit

D43 903 United PrUM.

November March Magy

September Spot

4.7G

· B.24 morninni *0.98

United Pre

Filipino Trade With Japan

Manila, Aug. 21. Now is the line for the. Philippines to consider possible expansion of trade Зарап, ас- relations with Gardins to Dr Roland Reune, Chief of the United Пепле, States Mulcal Security Agency Mission, who re- furned here today from Jagrat

Today, Dr Renne said, Japan was exploring every possible

for raw ROUTCO materials to feed her CX- panding industry and wanted contracts and trade Agreemenis with other countries-Reuter.

British Car Sales Drive In Canada

Toronto, Aug. 27.

Grave Effect

And

Effect On Industry Country's Economy

London, Aug. 19.

A spirit of moderation pervaded the deliberations of the Confedera- tion of Shipbuilding and Engineering Unions in its approach to the problem of wage increases.

Two factors may well have contributed to this; the firm hand of Sir Walter Monckton at the Ministry of Labour and the refusal of the rank and file of the union members to be stampeded into premature strike action.

It is perhaps too early yet to dogmatige but it would esrtainly seem that the day of the "show of hands" at unofficial meetings fostering strike action seems to be nearing an end.

the Second World War and by resistance under the Colombo the destruction of the ten planta- Plan is expected to go for to re- tiens in Indonesia by thehabilitate this S. E. Asia country. Japanese, and by the bulk purchase system of the United Kingdom are

now past, and difficulties and more difficulties seem to be ahead of the ten in-

The cumulative effect of strikes on industry and the country con- cerned is well summed up in the current monthly letter of the National City Bank of New York, commenting on the settlement of the steel strike: "The feeling of relief with which the settlement of the 53-day strike was grect-dustry of Indla." ed," the review observes, tempered both by sober appraisal of the effects of the long work stoppage and by realisation of its utter needlessness.

tons

"AL Cost of nearly 21 million DES of ingot steel, and the equivalent in the innumerable products variety of fabricated which American industry re- The second biggest marquee inquires for its operations, the steel the world, smaller only than workers Bained

wage increase with ad- Barnum and Balley's circus big of 16 cents an hour, top, contains cxhibits by British ditional fringe benents of about

This for the Canadian 54 cents. car makers

wage increase in essenco had been available to National Exhibition.

So that nearly four million them for the last three months. people expected

visit the They also won a modifled form to exhibition may be convinced that of union shop, on terms available British cars in Canada are here for their acceptance some weeks to stay, t the British makers joined before the anal settlement. together for the biggest show "Even now, as the steel mills they have ever staged hero. return to full production, stocks

The range of nearly

every

in mlil yarda begin their travels

PRINCIPAL FACTORS

per

lb.

of

the

A

CETLONESE ACTIVITY Meanwhile, Ceylon pursues her foreign trade activities, her ex- ports being chiefly tea, rubber and coconut. Judged by thes commodities, 1951 was a good year for Ceylon. Exports and re- exports totalled Rs. 1,904 million and Imports Rs.1,550

million. On

had these figures, Ceylon

trade balance of Rs.845 million, as compared with Rs.390 million in 1950.

Among the features in Ceylon's pattern of trade now are (a) re- appearance of Japan as a source of textile supplies, (b) decline fr exports (principally rubber) to the United States, (c) develop

a market ment of

of Germany as

heralding a revival exports, of Imports from that country. Ten headed the list of exports, totalling 320 million lb. and, valued at Rs.804 million against Rs.755 million in 1930. Rubber Rs.682 million shipments were against Rs.405 million, although the U.S. purchases have in meantime fallen off heavily.

for

From the Indian point of view, the main factors contributing to the difficulties include the reduc- tion of the U.K. subsidy of la favourable

ib. to

8d

in per

and 1051,

the September, subsequent abolition subsidy entirely in March of this year. The burden neeruing from this was to be thrown on to the British consumer who, however, within the past week or so been presented with a a reduction in price of up to 4d 1b.

per More reductions should follow; cost of shipping is tumbling down, and that cost should be translated into lower prices of imported goods in the near future, the index of tramp ship

a peak ping having fallen from of 2038 in May, 1951, to 00.2 last month. But perhaps the price of

tea is the

disappearance of the bulk buyer and the entry into his own of the free enter- priser in the International tea

British car from $500 to $5,000 to manufacturers and bullders; main reason for the fall in the|

WIN

will include the first public showing anywhere of the £5,000 North Amercin of the Rolls Royce and Bentley tourers.

Daimler tourer and the first in

Josses

and ore shipments resume, the long-range effects of the pro- duction cannot be assessed. Stock piles of steel and of steel parts and components, built up to ensure continuous and enclen! markel, ending the "halcyon The Pily attending her ex-

Since the war one in every 10

production, have disappeared or new cars sold in Canada has been British but sales have slumped become so unbalanced as to stop since the imposition of the anti-

production. Many manufactur- dumping taxes last year that

ing firms have Installed ope

closed down or resulting in £800 model wage losses

cura raised prices on a

operations,

10

of a by as much as £150.

upwards workers outside the British sales dropped to 12,317 million

The next few units in the first six months this steel industry.

weeks will bring further curtail year, compared with 34,329 units for the first six months of 1951.

ment in plants which to date. have maintained production from stocks but must now wait for more steel or for parts from seriously hit suppliers."

steel Industry, that The U.S. country's economy, the financial standing tent to

At the same time American sales have almost doubled with the abolition of Canadian restric- tions on spending in the United States.

in the big

Now the British have joined together borrow the circus tradition of staging the "greatest sbow cn carth." — London Express Service.

U.S. FIBRE MILLS ON FULL SHIFT

of

employers and workers all have been affected by this "heedless" 53-day strike. Millions of dollars have been lost. The strike in fact, as needless and as senseless as the two weeks' strike in one South

The United Kingdom. led all export markets; the purchased half, by value, of all exports to Commonwealth countries, almost one-third of Ceylon's total trade.

days" to the producers of India, ports

Ceylon to increase and other Eastern Imports by Rs.392 million in

her Ceylon countries.

1951 over the preceding year. World production of tea is The U.S. supplied over 20 per currently at 50 million b. In cent of the Imports; Burma came Decreased excess of world consumption; second as supplier. that in itself is another

sales

of ten and rubber to the to India and

United States meant lower dollar Un- Cerion.

Indonesia, earnings, with the result that fortunately,

also,

trade balance, in which had a pre-war production a favourable of 109 million lo., has currently 1950, fell from Rs.379 million to regained half of that crop, East Rs.181 million in 1951. This is Africa is steadily increasing pro- regarded, and hoped, ELS duction to 37 million lb., Formosa abnormal, and there are prospects has passed the 1939 Agure of 282 of improvement in the trade with million 15. to 28.7 million lb., the U.S.A.-Liverpool Journal

are ap Indo-China proaching pre-war gure levels, Iran's has, risen from 1.9 to 11.4 million b. between 1939 and 1931, and is expected to supply the home rmarket entirely in ave years' time. Other countries de-

Ation

And

Wales coal mining area, involving voting attention to tea cultiva- a loss to the men alone of £10 on are Malaya, USSR., Tur- million in

key, B

Brazil, Wagos, over the Belgian Congo B principle of an insignificant in- Argentina, along with Mozam- crease of personal transporta bique and Mauritius,

tion cost to and from the pits amounting to about sixpence per week per person.

in

of their Overseas

area

The whole situation presents 1944, when India and Ceylon a volle face from conditions of

held what was to all intents and purposes, a world monopoly and

imposed an export and excise duty on their tea exports. The cost of production must brought down-but how?

be

BURMA'S REVIVAL Among the South-East Asian countries, Burma, one of the most prosperous, has signifled her device to assist in the prosecution of the Colombo Plan. She has

of Commerce.

HONGKONG SHARE MARKET

(From Our Correspondant)

business on the Volume Stock Exchange this

morning tofalled $174,484. Noon quota- the morning's trans- tions and actions SHARES DUYERS SELLERS BALES

BANKS

Je

150

1.00

1K Bank... 1420 East Asia... INSURANCES

Valon... SHIPPING

Asta Nav.. DOCKS, ETC."""

K. Whart N. PL. Wharf 0.35 0.53

***** 18.ED

13

B Dock...214 LAND, ETC.

Wheelock .***

EK Hotel

HI L (0) 40

143

40 100 9.4331⁄2

6.40 6.00

HIK Land (N) 4334

100

281

Shai Land.. 1.35 300

Humphreys. 14,70

trylleries

1.30

Tram XD 18.40 18.60 3000 @ 161⁄2

2. Tran (0)

P. Tram (N) 132

Star Ferry C. Light (0)

100

03/

DIRECT HEADING All labour disputes, with or without ulilmate Increases in New York, Aug. 27.

abre wages, have a direct bearing on America's synthetic

the tolls are again working on a the exports position of full shift basis--for the first United Kingdom, creating more and more difficulties for our time in nearly a year.

Man-made Aibre shipments, manufacturers and shippers while still far from the peak selling their goods at less cost

than those reached In March last year, aze elimbing fast, trade

sources competitors.

We are all importing more had, however, to accept E.C.A. report, in an effort to catch up with

the long-delayed, textile then we export and scom to be

approaching a position of "lose assistance to repair the part of picenta of

rayon

and and less exparts," although this Rangoon and five of her nearby smaller ports. Last year the scotato in June totalled 6.8 may be caused not so much by

total seaborne trade of Rangoon million pounds, on increase of

a slackening of efforts but by the

was 1,901,108

exceeding reductions imposed by Common-

Lons, 15 per cent over May.

that of 1950

by 320,000 tona. and steritag July shipments are expected wealth

Meanwhile, the cont to show an even larger advance countri

Exports

rose from 1,010,000 tans of our imports is rising. Beef, to 1,200,000

4,000 tons, creditable over June..

be mutton, lamb and dairy produce performance bearing in mind that Producers are reported to

the reconstruction work under hopeful of

Zealand and Aus- maintaining full from New

only in the capacity operations through the tralla alone have been contracted C.A. ald started

course of last year. at increased prices, costing as rest of this year, at least.

The # 1874 per cent more.

rice trade is, of course, And their long range outlook much

tho backbone of Burma's this state of is highly optimistle Associated Perpetuation of

oconomy, alth

although offairs will have serious Press

exports of con-

In 1951

were sequences to us at home and of that commodity

tons, the host unsympathetic towards only 1,250,000

against a pre-war total of 3,600,000 tonsa decline which has

welghod proposal before heavily on the

of subcontinent the business community hero that free enterprise be invoked India in post-war years.

The

ather main exports of to aid our position in E.P.U..

the Burma, timber, minerals und vll, that is, our trade with the

remain New York, Aug. 27.

much below pre-war Railwaye led the stock market

Recent agreements with today. There were moderately

the Burma Oil Company hold out higher prices, ranging from frac purchase in dollar countries and the hop

in Europe, a a share, dollars tions to two

a triangular form the hope of a speedy revival of

with the

export of

of oil. Des- the the country's throughout the Ust. A total of of trade at variance 000,000 chares was traded.

systems dislocation of transport and

pito bilateral 1

Business was done in the local activities, Bura

Unofficial

market by the Socialist Govern-

exchange achieved during and airerans joined the railwaya ment. Free enterprise jumped at favourable trade, balance of US dollar, (per )

the year a morning at the following rater

#4279 this opportunity to be able to Rs. 63 million, this in spite of flexing note (per t at the show what it could do for the

Indonesia guilders (per 100) 29.00 the absence of normal supplies Stom deals (per 100) stood as good of the country, but the

of rubber as one plantation-after Slugapore (Stralia) Bank of England how hina 273.84 decided

to go slow for the other fell to insurgent occupa-PIC plastre (per 106)

New York Stock

Exchange

us abroad."

There was

European countries. Under this lovels.

scheme the British trader was to

Some steels, cars, petroleums (Diisheet

in the advanco.

und of the

Dow Jones averages

session

follows:-

30 industrials

20 rails

ns.bustlep

101.00 60.05 0853

Copra Quotation

tion.

Bu

Page

ROYAL INTEROCEAN LINES

HAILINO'S.

Stagapsis,

*TJIWANGI"

"TJIPONDUZ".

"BOISSEVAIN"

*STRAAT

НАВЛЯЗАП" TSHANTIFTH ***THENEND” *FINÁDÁNT” *Y SILUWAES"

"VAN HEITSZ"

"TJIKAMPEE"

Brit.

Sept. 7

Dijakarta..

Manila

Begt. D Arp Ja flap. 11

Brph. 15

Hept. 10

Sept. 18

Oct.

Oct. "

"

JADER Лятал

out.

D

10

Och, 12

Oct.

14

**TSIDAĦAR.

Oct.

Nov.

*TJIWANGI" ·

Nay,

NOT.

Nov.

Nov.

"TJISADANI"

TEGELBERO" **STRAAT

MAKASSAR”

"VAN REUTRE" "TJIBANTJET" "TJIBODAS"

*T-IILUWAIT”

*TASMAN "TJIFANĀS"

*T31SADANE"

"TJIWANGI"

"BOISSKVAIN" *STRAAT

MAKABHAN" UTJIFUNDOK" "TJIBANTJET

*TJIMENTING"

TJLUWAR"

To

SERRATURE,

menátske,

Dakarta,

America

Surabata à MiensLP

Singapore. -Mauritius

8. Africa & B

Japaia

Je par

Manila. Bing#dáře,~ R. & B. Aften Hingapore, Penang & Relawan Dek Ringapore, Djakarta, Bemarang,

· Purabila a "Macauiar Jaban

Djakarta, firebon, SemaisAg,

'Kuratata di Metastar

Hingapore, Djakarta, Bemarang,

Kurabala & Markojar

Singaporo, Statistics,

8. Africa & S. Ameries Bingapore, Penang & Delawan Def Manila, Bingente. ¤, & 8.. Africa Djakarta, Tincton. Semarang,

gprabafa à Marasinë

Singapore, Djakarta, Semarang,

Gurabala & DIACARIET..........

JAPEN

ZADLA

Djakarta. Semarang,

Sutabala & MAZANING

Singapore, Penang & Delawan · Dail Djakuria Bemarang,

MACAF KNX

Singapore, Mauritius, B. Atries &

8. America

Singapore,

ARRIVALS

Aug. 20

RepL 4 Sept. 8

Beyt. Bapt

Surabala A

From

Semarang.

Macatur, Rurabala,

Djakarin Singapore

Ispan

9. America, 8. Africa, Mauriting,

Singapore & Manila

Japan

Tydensian Porta

Sept. 10

Japan

Sept. 2

stacassaz, Aurabala, Semarang,

Djakarta & Singapore

KING'S BUILDING, Ground Floor,

TEL. 28015/18,

CHINESE AGENTS: 12 CONNAUGHT BD. C. TELA, 31196, 25133 -

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, "BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS ANGELES AND PANAMA.

M.S.

NEXT SAILINGS

TREIN MAERSK” M.S. "PETER MAERSK”

M.S. "NICOLINE MAERSK"

2 Sept. Sept. 15

Oct. 2

•

Also accepting cargo for Portland ARRIVALS FROM U.S.A.

M.S. "SALLY MAERSK"

Aug. 30

M.S. "ANNA MAERSK”

Sept. 10

M.S. "OLUF MAERSK"

Sept. 22

For Freight and Further Particulars please apply to:-

AGENTS:

JEESEN & CO.

Dates and rotation subject to change without notice.

Pedder Building,

Cotton

Board

Prediction

Supply May Again

Exceed Demand -

Washington, Aug. 27.

Tel. Nos. 36006-9.

RUBBER

FUTURES

IMPROVE

Singapore, Aug. 27. There was .some further liquidation but on the whole there was better trade buying and the market closed steady, The supply of cotton in non-Prices of rubber futures clored Communist countries during the today as follows!~~ 1952-53 season may again ex-Number 1 rubber, per Ib. ceed demand, the International October Cotton Advisory committeo November predicted.

The

September

Number 2 rubber,

September

Number & rubber,

September

Number rubber,"

September

committee, which repre sents 27 cotton exporting and importing nations, estimated the total supply for the season which ended on Aug. 1 at 38 Epos ruber, unbaled million bales of 500 pounds.

No. 1 pale crepe worldwide textile slump

caused

umption to drop: sharply, the committee reported. Leaving about 13.8 million bales of cofion on hand at the start of

the new crop year.

Banket crepe

7021-79

704-70

78-2-70

724-732

6731-0834

64-00

7016-79

08-59

00-104

-United Press,

NEW YORK MARKET

New York, Aug. 27. Prices of rubber futures closed umthanged to 20 higher with sales totalling 97 contracts. The first evidence in a long time of previous year by 1.3 million bener inquiry fram leading bales in the United States, 400, manufacturers had a steadying

Demand was down from the

C. Light (1) 5.00 6.0 50 5.90 000 bales in the United Kingdom influence at the close. Prices

and 300,000 bales in Japan, the closed as follows; 49 23.39

Electria

..... 22.40 Macso Elec. 1015

17.10 To epheme INDUSTRIALS

Cement....... 16.00 27,10 300 a 17

10 STORES, ETC.

Dary

Watson.....

Crawford C. (ts-2 COTTONS

Ero

18.00

37 37.20 100 @ 27.10

300 27

2.40

Exchange Rates

10.02

33.00

10.17

11.00

Linseed Oil Up:

moment.

What free

Timber production went up. can do is enterprise 40 benda

Asociated Press and United shown in the change which has Some, 65,000 fans arrived in come over the international tea Rangoon by the Irrawaddy river

New York, market, and its effect, already and other routes: 40,000 tons of

Aug. 20% Prices of linseed oil have beedi Home teak were exported from the port evident, in the British

-Addressing the

annual de prices, during the carller part rulsed à cent to 104 cents a Romeral meeting of the Indians Tes of me year which tooched an pound, New York, delivers, in

•New York, Aug. 17. Cours was quoted today. at Planter; Alaodiation, Sri all-time peak. Timber production tank cars, effective on the open $102 per dhort tor-nomusal. Birendra - Chandra! Chode, the on the whola' is not favourable ing business day on Thursday, remarkid; "The for the immediate Cocoanut oll was quoted 0%1⁄2 chairman,

'future; only) The advance followed the high- cents a pound, nominal United halcyon days offered to the ten three out of the 31 forest areas er prices for cash flax seed et Prett

industry of India and Coylon by are

operate, -- but ! Minneapolis,-United Presa.

oble

to

September October.

commitice re

Added over, which is about 2,5 million December

reppurent carry November

to the

ales above the stock reported January (1053)

year ago, will be production of February about 27.8 million balce in the March coming crop year-about the y

April-

same as last year the committed June July estimated, this will bring the Aust

around 41.5 September total supply to million bales. Consumption last October season totalled about 20 million November

Spat balce.

Just what the Free World will

this 41.6 million balo

do

supply

With

is

commiller saki.

20.55 bid

29.05 nominst

27.55 27.03

1

26.70 nominal

20.45

28.20 bla

20.00 nominat

23.30 bid

67 nomina}

2015

25.45

240.15

24.05

22.73

-United Pres.

LONDON MARKET

London, Aug. 27. lpdetaminate." the Frices of rubber futures

cload today as follows:--- "Due to the extensive curtailumber 1 rubber, In pence ments Іл textilo production,''

per lb.

the committes said, "there are October few indications that the turning November December point has been reached, though October/December the situation in tho United January/March States and Japan has become April/June more stabilised." Prots.

- Associated

Tung Oil In NY New York, Aug. 27. Prices in the seeds and oils market here closed unchanged with the following exception:

Tung oil, in tank caro, F.O.D. New York, por lb. 3814 cents. ---United Press.

United Press

JAPANESE. BONDS

zapanese bonds

London, Aug. 27.-

"I" (be⋅ 1010) "", of 1010) "ET" BT. OF 1004)

Consola