1952-08-29 — Page 9

MESSAGERIES

THE CHINA MAIL, FRIDAY, AUGUST 29, 1952.

MARITIMES

NZ Attitude On Tariffs Issue

MM

Arriving

LAKTing

"GRENOBLE**

P

Sept.

*"LA MARSEILLAISĖ" ..Sept. 10

"FALAISE”

Bapt. 20

..fapt. 1

Sept. 24

*"COURSEULLES”

Sept. 10

Sept. 11

1"GRENOBLE"

4

Rept. 1

Ort.

1

•

For passenger and freight.

**LA MARSEILLAISE" ..sept. 20

...Oct.

Dutward FW

Japan

Yokohama & Kaba Japan

Homeward For

2. Africa & Europe Marseilles vin Saigon

M. Afrien à Europe

† For freight to Salgon, Alexandria, Genon, Algiers, Dean, Tangler, Casablones, Havre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:

vla Marseilles to ull Mediterranean & West Africa Ports. -via Djibouti to Madagascar.

Subject To Change Without Netire,

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's-Building (gr. floor)

EVERETT

Tel. 26051 (3 lines).

LINES

EVERETT ORIENT LINE Fast cargo and passengers servico refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Stam, Malaya, Burma and East Coast Indian Porta,

"NOREVERETT"

Arrives Sept. 6 from Singapore.)

Salle Sept. 6 for Japan.

"REBEVERETT”

Arrives Sept. 10 from Manila.

Sails Sept. 11 for Singapore, Penang,

Rangoon & Calcutta.

(Accepling carzo for transhipment Kobe/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 Ports.

FIRST CLASS PASSENGER ACCOMMODATION

M.S. "THAI”

Arrives Sept. 4 from Japan. Sails

Sept. 5 for Singapore, Port Swettenham, Madras, Colombo, Bombay, Karachi, Basrah Kharramshahr,

M.S. "STAR BETELGEUSE” Arrives Sept. 9 from Singapore Sails Sept. 10 for Kobe & Yokohamu

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

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

Canadian Ford Company Gets Contract

for

Ouru, Aug. 28. Ford of Canada today obtain-

contract ed a $3,250,000 trucks, buses and spare parts to the be

under sent to India Colombo Plan,

&

Japanese Assets In Singapore

Singapore, Aug. 28. Japanese assets in Singapore at the disposal of the Custodian tatal St$22 million, of Property Mr W. G. Alcock, the Custodian, revented yesterday.

Several claims against these assets

submitted, have been The contract was part of a

arising from $4,500,000 allocation of 1951-52 especially claims Colombo Plan funds, earmarked the war itself, Mr Alcock said. hdded that what policy early this year for shipment of

followed regarding vchides to Bombay to help re- would be.

distribution of Japanese llevo 4:0 serious transport the

the assets was shortage.

a matter for legislature to decide. Under the contract, the com-

Mr Alcock also disclosed that pany will ship to India nearly local claims against German 1,000 trucks and a quantity of assets in the Colony would be small buses as well as parts. paid in full before the end of this assets exceeded The vehicles will be used year. Germon

fabilities by more than ten primarily to distribute food and

times. form produce to the

cally market.

There assets amounted τα St$3,700,000 and claims so far received totalled only Gi$325,000, The balance of Et$9,375,000

reparations-Router.

The balance of the $4,500,000 will be spent on diesel engines will be transferred to Britain as for trucks.

Mr sistant

R. W.

Rosenthal,

to the Colombo

Administrator here said

duo to

As-

Wellington, Aug. 28.

Now Zealand manufao- turers urged the Govern- ment to Inntestet ita dele- sation Lo the October GATT sesalon to withdraw from the principle of bind- ing duties or preferenco margins.

The manufacturers” an- Eual ponference which reached this decision also urged Parliament to advise The GATT Conference (General Agreement on Tarifs and Trade) that no further restriction in duften any farther. GATT sel- sons would be offered by New Zealand

at

In effect, the manufac- turers have this told the Government that they no longer wish to be bouÁ by GATT rulings---Reuter.

Cotton "Plaything

Of Party Politics

وو

London, Aug. 27. - Colton has become the play-

W thing of party politics, Mr B. Hutchinson, President of the Liverpool Cotton Association. sald today.

He added: "We rest nise that If we went whole-hez tedly for private trading and wound, up the centralised body, there would be an inevitable political squabble.

"We do not want such measure put before Parliament with the Opposition saying: "When we get back in power we will undo it.'

That is not the basis for confidence, and confidence we must have if there is to be a revival of trading."

Mr Hutchinson sald cotton- buying cannot be fully restored to private enterprise yet be- cause of the foreign exchange problem.

An experiment was now being tried based on consumers hav- ing a yearly option to buy cof- ton as free agents or through the centralised body.

a

"As.

breaks in the 100 per cent

monopoly which has ob tained since the wor, it is a big step forward," he added. "But it means that the new private. market just staggering to its feet after ten years in bed has got to compete against a large centralised, State-financed OT ganisation. It has e big task in front of it."-London Express Service.

Increases To

Be Passed. To Consumer

Washington, Aug. 23.

The retiring Rice Stabilser, M

Ellis C. Amall, said today that he would permit all of the recent ceiling price Increases in steel, copper and aluminium 10 be passed on to the consumer.

He estimated that the increases would amount to $750,000,000 a year at manufacturing levels and other officials reckoned that the eventual cost at the consume: level would be $900,000,000

year.

Mr Arnall said that the order permitting the passing on 100 would per cent of the increase be issued carly

next week. Wholesalers and retailers auto- matically may pass on the price Increases and at their pre- Korean percentage mark-up.

The Price Stabiliser said that 30 to 75 industries already had applied for price ineren to reflect higher costs of the thres metals.

Ceiling price increases on the three metals have been allowed in the last two months.

Meanwhile, the nation got a new Federal rent controller and Mr Amali's successor, Mr Tighe E. Woods, promised to consult with America's housewives be- fore taking any

major actions his new post

in

Mr Woods will become Price

Pin New York Sugar Stabiler on Monday. Mr James

that

the

the the disruption of Canadian car industry by recent U.S. steci

strike, there

WWER no indication at present when the Arst shipment would leave for India United Pro

Weekly Bank

Statement

Futures

New York, Aug. 20. World sugar futures closed 3 points lower unchanged to with sales totalling 137 tracts,

con

Melnnez Henderson was named Rent Stabiliser, succeeding Me Woods United Press.

Pago R

ROYAL INTEROCEAN LINES

"TJIWAKUM

Japanese Considering ROYAL IN

Request For More Sterling Area Goods

Tokyo, Aug. 28.

Japan is considering an approach to Britain to authorise and th- fluence the expansion of Sterling Area exports to Japan-especially wheat, barley, rice, sugar, raw cotton and iron ore, Most of these goods are now restricted Sterling exports.

Japan's accumulated Sterling holdings totalled $127,520,000 on July 19, but the upward trend has now been stemmed and holdings are expected to begin to drop this month.

Japan has already been allotted a quota of wheat from Australia under the International Wheat Agreement. Sho wishes to augment this by an additional 59,000 tons a year. The U.K. has priority in the purchase of Australian wheat.

In addition, Japan wants to buy barley, sugar and iron-ore from Australia.

Japan is prepared to buy from 150,000 to 200,000 tons of Aus-

*

tralian barley (half the total three-year surplus) under agreement, and about 80,000 tons of sugar a year at a higher price (to be determined) than Britain now pays for sugar imports from Australia.

Australia could sell from 400,000 to 500,000 tons yearly to Japan alone.

South Africa, It is asserted, could also ship Iron-ore to Japan, but transportation in fully coupled with shipments of man- Fanese ore to the U.S.

Ninety per cent of the raw co ton of Kenya mdi Uganda is currently being sold to the U.K. under priority to the British Raw

AUSTRALIAN ORE Japan also believes that Aus-Cotton Commission. tralia has a substantial surplus of iron-ore available for export, withough not ot the moment shipping any

considerable

volume.

FOREIGN EXCHANGES

IN N.Y.

New York, AUR. 21 US$104-1/16 TO

Canada England-official

Australia

New Zealand Bouth Africa

Belgium

2.50 d 153 asked 2.774%

unofficial 30-day futures 90-day futures

2.101

2.25

2.774%

2.78

01091

Denmark

-4433

France

00252

West Germany

Holland

Itly

0010

Norway

Fortumi

Spetzt Sweden Faltarland

Middle East

2.08

03125 2.79%

Turkey

3473

Latin America

Argentina Brazil Bolivia

Egypt fran Iraq

Chuile Colombia Cuba Mexico Pert

Uruguay Venezuela

India Fakistan

'Ilongkong

Indonesia Singapore Зарап

1025

1.00

.1104

.000

100

4003

Far East

2002

.0000 $260

360 yan to US$1 -Unlied Press,

Cotton Prices

In New York

Spot

October

New York, Aug. 28. Prices of cotton futures closed today an follows:-

39.70 38.83-38.90 23.70-63,75 18.53 2832-28.37 37.85 85.91 Grid 39,70 k United Fres

Ilveernber

Maret (1953)

May

July

October

December

NEW ORLEANS MARKÉT

October

Spot

Desember

Maret (1993)

Joi

October

May

December

$0.04

38.84-38.00

58.70-30.78

$8.84-30.54

28.34

37.77

63.96 tud 39.09 bid United Prem.

Grain Prices

In Chicago

Chicago, Aug. 28. Prices of grain futures closed today as follows.—

Wheat-price per bushel Spot

2.20 3.2011-14 3.30-2,357

Japanese trade planners ask that Japan be given the oppor tunity to purchase. raw cotton from Kenya and Uganda at least on the same busks as the British Commission.

BURMA MARKET

A final request is that wider access do grunted to the Burma rice market, which is now selling to the Starling bloc and to other countries paying in dollars.

An overwhelming majority of Japanese Industrialats opposed a suggested onforcement of the "actual" Pound rute for Japan's | |trado with the Sterling Area. This would make the Pound worth $2.40.

A survey by the Japan Industrial Council (Nissankyo) has revealed that of 38 member orgarilsations and corporations 127 were opposed to the Sterling rate change and only nine in favour.

The majority said that the cas forcement of the "actual" rate would reduce exports rather than promotę imports and thus further hamper Japan's economic covery.

S.E. ABIA INVESTMENT

re-

This blog urged that the Government Invest Japan's Sterling in South-East Asia ar advance the credits in the form of loans to encourage importa from the Sterling Area.

Included in the minarity or- ganisations were petroleum company, three raw silk com- pantes, and woollen, gas, optical and precision instrument com- panics.

The gas industrialist claimed that, if the "extual" rate of $2.40 to the £ were enforced, he could buy indian coal at $13 cl. per i ton

while the same quality of U.S. coal is now priced at $20.

Accordingly, with the

enforce- ment of the "actual"""

rote, he could switch his company's Im- ports of coal trom the U.S. to India and also help to correct Japan's surplus of Sterling.

Pakistan And

Soviet Seek

Barter Pact

:

ere

Karachi, Aug. 25. Official sources way Pakistan and the Soviet Union negotiating for a barter trade pact here and agretinent is ex- pected soon,

.

Paldstan would exchange raw Jute and colton for Russian wheat urgently needed by this food-short country.

Sources sald the Pakisterid had first approached the United States and Ching for wheat but had been told considerable tie- lays might ensue before de- livery.

Pakistan and tho Bavict Union so far have yet to sign a trade pact. A Russian delega 1,42-1.4336 | Ulan vislied here in 1949, seck-.

Ing such a pact, but went homo Associated -empty-handeti. Press.

Beptember

December

March

May.. Cotu Spot September December March May

1.8335-1.83

Ryc Spot

1.7035-44 1.7234-14 1.281-14 4.77/4 1.0255

September

t

Onts Spot

1.051

021-6

Barter Pact

Approved

Bangtok, Aug. 18. Tho. Thailand Cabinet has approved 'a barter trade agres- ment amoufiling to US$112 pominal million with Japan, to be effe

from

Contract No. 4 closed un- changed to 1 point lower with sales totalling 40 contracts": Prices closed today as follows; Contract No # (world) " September

4.03 nominial October January London, Aug. 28.

March Thỏ Bank of England slate-

May work ending | JUG merit

for the August 27 reads as follows: September

Epot

*,,

Notes in cireutation £ 1,438,935,000

Puulle deposits

Private, daposte

Gewernment soeurtiles

Other securities

Receipts

Bank ratio

38,901,000 November

317,213,000 March

200.234.000 MAY

34,310,000 July

$72,000 September

110 Spot

United Fre

400 bid

3.83 bid.

200 bla

3.40 Uld

2.49 riominaj

אני

0.75 2minal

0.35 -United' Pisss,

tivo for ono September 1.6,

Under the barter

year

agreement Thailand will export rice, salt,. tin, rubber and raw material

Zapun, and will import. to Japanese: tolling

stock and

September

New York flane-per-200 1b. Back, $17.10-nited Pre

LONDON TIN

MARKET

London, Aug. 28. The tin market was dull and Turnover

JAPANESE BONDS hly 10 ore.

London, Aug. 18. Japanese banda

"A" (45..of 1630) ["Ƒ" (18; df 1910).

"C" (48 of 1907),

"D":.(öd. at 2934)-

Consols

machinery, industrial equipment, ⠀ “E' (0 3⁄4#. of 1930)

textiles and manufactured goods.

--Router.

was only tots, none for cash. Prices closed at the end of the official morning sexion

7036. Followa

BUBirks 'dorra #x15

Spot tin, buyers

131-

Apatin, wellers

60

HONGKONG

SHARE MARKET

(From Our Correspondenti

Business on the Stock Ex- change this morning amounted tu $144,752,50 in value.

Nobri quotations and the morning's. transactions:---

BDABES BUYERS BELLERS SALES BANKS

HK

East Asia... INSURANCİS

.. 2.00

Union 75735, Underwriters Aala Nov.

DDCS, ETC.

Whest

3. Pt. Wharf ̃0.40

Dock 19.90 Provident. 12.60 32 Dook Wheelock ....

LAND, ETC.

: 30:

10 @ 100

13 311 12.90

0.55 1.00

Trote

JEH LAN Shat Land .. 1.50 Humphreya UTILITIES

Trem XD P. Tram P. Tram Star Ferry X

C. LIGU (N)

Electrid.... Telephone INDUSTRIALD

Cement

Rope BTORS, ETC.

.11.80

154 12

200 @ 18.40

$6.10

IT 17.20 1000

19.30

19 10.10

63300

HÉTRAAT.

MAKASSAR" **TJYGANTJIT" “EJ MIENTING" *TZIBADANEVİ, "TJILUWAIT“

"VAN HEUTAZ” "TJIKAMPEK"

"TJIWANOP"

"TJIBADANE” "TEGELDERGA "TRAAT

MAKABBAR" "VAN HEDISE"

Sept.

BAILING'S "

Best.

Bapt. 18

Oct. 2 pi.

Oct. 10

HEIMANTIET". "TJIQOPARTM** VESILUMAIN

Oct.

Oct.

"BUTE

"KIIPANAS" PEJIWANON

"TASMAN"

Ork.

27

Nov.

"TJIFANAS“

Nov.

*TTISADÁNKY

NDY.

"JIWANGI"

"STRAAT"

MAKASBAR”

"TJIFUNDOK"

"TZIBANTJET

TJIMENTENⱭ" TILUWAN

Manila.

}

Singapore,

1. Africa AR America

Japan Siban

Manila, stoganore, B.,à 8. Alries Bingapore, Panama, a Belawan Deli * Hingapore, Djakarta. Bemarang,

Surabala & Markesat

Зарап

Pjakarta, Tjirebon, Semarang,

Burabula & Maçasar Singapore.

Pinkaats, Semarang,

Barakila k” DIGELMAT

SIDA #spert

Manila, Singapore, Mauritius,

9. Atries & 9. America Kinjupute, Pedang à Dalašen Bed Blámija, štigenare, K, 'N B., Adrien Djariita,

Singapore,

Tirabo,

Djakarta, ŘEMATADE,

jan Barabála a MarziaP.

singepate, DARKita.

ayrabala a NACAMAT

Slagkbore, Penang a Delawan Trell Djakarta Bemstöng. búčakala, d

**Macazesi

Blágáguće, Mamestitis, H. ANKA a

6. America

ARRIVALS

ta Port

Rept

Sett.

+

Bert.

Sept. 12

Sept. 16

Frum

Blaesar, Surabala, Semarang,

Djakarta & Blogayara Japan

E. America, E. Africa, MADENTUR,

Buigapore di Mania

Indonesian Ports

Japan

Marakter, Buenbuta, Bemark.

Djakátia & SMKAROTE

KING'S BUILDING, Ground Floor. TEL. 28015/18, CHINESE AGENTS: 83 CONNAUGHT ID. O. TELS, 91100, 23130

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMORE » PHILADELPHIA VIS SAN FRANCISCO, LOS ANGELES AND PÁNĀMA.

NEXT SAILINGS

• M.S. "PETER MAERSK” M.S. "NICOLINE MAERSK”

Also necepting cargo för Portland ARRIVALS FROM U.S.A.

M.S. TREIN MAERSK”

Diary

Watson

27.10 8740 633 19 27 20

M.S." "SALLY MAEKSK"

MS. "ANNA MAERSK

M.S. "OLUF MAERSK"

L. Crawford 243

•U. C. [15.) 9.15 COTTONS

Ewo

2.40

The Rubber

Markets

London, Aug. 28. Prices of rubbor futures closed today as follows

Number 1 rubber.

In penes per ib. Octubr

November December -October/December

January/March April/June

20-2414

20%

United Press

SINGAPORE MARKET

Singapore, Aug. 28. Prices of rubber futures closed today as follows→→

$

Humber 1 rulber, per th

September

October

November

Number 2 nibber.

Geptember

*****

Number 3 rubber,

September ..............

Number 4 rubber.

Beptember ******

08-fic

TOTE-6016

7334-7635

Bart rubber, usbaled .. ww Biciklet crepe No21,3sli crepe

Sept. Sept. 16

Oct.

2

Aug. 81

Sept. 10

Sept. 22

For Freight and Further Particulars please apply to:

AGENTS:

JERSEN

Pedder Building.

CO.

Tel. Nos. 36066-9.

Dates and rotation, subject to chanzo withunt nuties,

Protectionism In

America: Truman's Action Welcomed

London.

Many manufacturers in Britain and · else. where will have noted with satisfaction the 4- decision of President Trumati to reject the recom

mendation of the Tariff Commission to increase the import tariff on watches.

0913-0018 99-304 United Fren.

US. CONSUMPTION

The decision followed the rojection by the commia- sion itself of an application to increase the duty on imported motor-cycles.

So far Great Britain has riot cessfully with endeavoured to export watches necessary to America, perhaps because methods manufacturers

Americans it is

to follow American

of

Hugh preSSTIO which Involves

oft

British

New York, Aug. 18. The Rubber Manufacturers Association reported that no- tutal rubber used during July decreased 11.00 per sent from

sce no prospect salesmanship the Juno totals

expenditure July totailed of successfully meeting intense considerable 32,500 long tong compared with competition from their opposite publicity and advertising cam 38.875 long tons in Sund.

numborn in Switzerland and Synthetic rubber used amount- America itali but Britain hits

Naturally enough, eto 58,882 long toms, a de- gradually built up.a flourishing

ing manufacturers would not be crosse of 10.19 per cent from trade in the exportation of keen on spending large sums of the June total of 85,888 lots motor-cycles to the North Ameri-money in this way if they thought tons.

can continent and if the applica that in the event of a corner of New rubber consumption, de- tion to increase the duty, cơh these | the American market being creased 10.78 per cent to 91,446 | machines had been successful captured they would sooner or long to

tons from the June total there might have been grave re-later be forced out of it through of 103,437.

percussions in the Midlands the pressure of political, business where most British motor-cycles and labour interests leading to

higher tariffs on their goods. are made.

Reclaimed rubber cousump, tion by industry was estlisted at 20,007 long tons, or 5.16 per cent lower than the 21,791 tons consumed In June, - United Proas

Exchange Rates

..

There is, however, more than ] Thus, Mr Truinan's decision to watches and motorcycles reject the Tarift. Commission's involved, since many European recommendations as regards in- manufacturers of a variety of creasing the duty on watches fell that if they may have the effect of removing have products wore successful in establishing doubt, and uncertainty from the goods in minds of British manufacturers for their a market America it would not be long and encourage them to take a

goods in betere prohibitive tariffs would chance with their be raised against them in con- America. fit.

sequence of the pressure brought

On the other hand, President to bear on the Tariff Commission Truman's term of office is near- by political and Industrialling a ond and no one can terests.

Business was datin in the local unofficial

Exchange, market morning at the following rates;-

US dollar, (per #1)

Sterling note (por et)

16.00

Indonesia, quliders (per 190) 35.50

Stari Ucals (per 100)

21.90

Bingapore (Struitu)

30.30

VIC pisstres (per 100)

11.STO

NY Stock Market.

„New York, Aug. Dow Jokes versgts at the end of the stock market session

es ni

30 industrials 20-120 rails

JB utilities 40 bonds

302,54 60.01

D0.70

-United PreOS."

*United Press.

Tires-montits tin, sellers

Business done at

Bettlement

A guarantee that fils sueñessor wilt polley as far as

It may well be that for this carry on his reason more attempts have not tariffs are concerned. been mode to compete with

The protectionist movement in Ameri-malls, consumer goods America is powerful and whilst in the American market, and it may be argued in this country so, the attitude of manufacturers that American would be understandable.

• UBING › D.B. HETMONS „A

tariffs- forind Cormidable barrier against free= trade, it should not be

lowing red that

many British

is not merely a multor of tariffs ngalast foreign, goods are shipping Brilish" goods to the not merely formidable they are United States and hoping that insurmountable, — Liverpool they will sell. To compote stc=| Journal of Commerce,