1952-09-01 — Page 1

MESSAGERIES 17 MARITIMES U.S. VIEWS ON STERLING ROYAL INTEROCEAN LINES.

M

"GRENOBLE"

Leaving

Arriving

.Sept. 1 Bept, 9

**LA MARSEILLAISE” „Bep. 10

"FALAISE"

•

***** Sept. 23

Bept. 20 Sept.

Sept 1 Sept. 30 dict. 5 Oct. 蠱

Oct. Oct. 20

31

"COURSEULLES” .....Nept. 11

"LA MARSEILLAISE“ „Sept. 27

"GRENOBLE"

"FALAISE

For passenger and freight.

M

Outward For

Japad

Tokohama & Kobb Jaşam

Homeward For

N. Africa & Europe Márpeilles via Balgon N. Africa Europe N. Africa Europe

† For freight to Salgon, Alexandria, Genoa, Algiers, Oran, Tangier, Casablanca, Huvre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:

vla Marseilles to all Mediterranean & West, Africa Porta via Djibouti to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr: floor)

EVERETT

Tel. 20051 (8 lines).

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 Perts.

"NOREVERETT"

Arrives Sept. 5 from Singapore. Sails Sept. for Kobe, Osaka, Nagoya

& Yokohama,

"REBEVERETT"

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

Rangoon & Calcutta.

(Accepting cargo for tranakipment Kobr/Pusan and Kobe/Ukiria ws)

EVERETT STAR LINE

Fast cargo and refrigeration spaces available for Koren, 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. Saila

Port for Sept. 6

Singapore, Swettenham, Madras, Colombo, Bombay, - Karachi, Basrah & Kharramshahr.

M.S. "STAR BETELGEUSE"

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

(Accepting carro for transhipment Kobe/Pusan and Hobe/Okinawa)

EVERETT STEAMSHIP CORPORATION-S/A- Queen's Bullding, Tolophono 31206. Chinoso Department: Telephone, 28293.

Consumer Demand Reported To Be

Easing

In America

Washington, Aug. 31.

The Federal Reserve Board, after a 'survey of con- sumer inventories and buying intentions, finds that con- sumers have built up their stocks to the point where their most urgent demands have been satisfied.

"Consumer demand in 1952, as in 1951, is less strong than in previous post-war years," the Board says,

The survey disclosed that There was a downturn during #Soul as many people were 1951 in the number buying re- planning to buy houses during | frigerators. 1032 s had planned

to make

uch purchases during 1951, but By 1952, about one-third of that plans to buy furniture and the households surveyed had About major household appliances were nequired television sets.

hewhat less frequent than a one-half of the households in year carlier.

metropolitan areas had them, The Board's findings will be of against about one-fourth of to market those in smaller cllies and ont- Immediate interest analysts, but they probably will tenth of those in the open coun- be studied even more Intensely try.

Ownership of

mechanical

Hint In Washington On Tariff Reduction

Japan Trade With Peking 'Impossible'

Talpel, Aug. 21.

Mr ileltare Inagaki, head of Japan's goodwill mission to South and Boutheast Asla, mid here today, that it was "technically impos- sible for Japan to trade with People's China.

because

of

He said that in spite of clamour of nome merchants for trade with the Chinese mainland, Japan found It de- almost impossible to velop fentle controls and Japan's free trade policy.

five-mari Inagaki's Mir mission was today enter- tained by President Chlang Kal-shek.

With them also were members of 4 group of Osaka Industrialists visiting Formosa-Reuter.

Outlook In New Zealand

Complex Problems

Melbourne. Referring to the recent heavy flow of imports and the decline in wool prices,

Scheme To Provide

Provide Fresh

Dollar Resources

(FROM OUR OWN CORRESPONDENT)

London, Aug. 31. The British delegate at the forthcoming International Monetary Fund conference in Mexico City is Sir Arthur Salter. There is likely to be plenty for discussion as the Fund is taking a more active position about loans.

In Washington there is evidence that the Americans are taking # long-term view about the future of Sterling.

Such influential newspapers as the "New York Times" have not ruled out the possibility of America assisting the Sterling Area by raising the dollar price for gold but it is quite obvious that this possibility of a raised gold price is not even on the agenda for review in Mexico City.

a halt.

Ometal American viow is thated, "even the week-end and the the United States Goverment prospect of the trades union con- should encourage long-term terence on Monday failed to agreements for bulk commodity bring the rise in the markets to

and simulate dollar purchases Investment in the Sterling Area.

At least one group in Washing- ion is holding out the bait that Amarien would further reduce her tariffs and even provide fres dollar resources if it would nusist the Sterling Area achieve con- ve: Libility.

This American scheme has mei Favoumble responte here in London in circles connected with the Bank of England.

But it is understood that the Treasury by sceptical of the prospect of any proper con- verdibility within the foreseeable future due the exceedingly large Sterling claims on London that are outstanding.

"The week was, therefore, one of virtually uninterrupted pro- gress in both gilt-edged and Industrials."

The "Financial Times" ordinary share index rose 3.4 points and the Government securities index L.8 points during the week.

Only exceptions during the week were Kafirs, which re- acted to the bad political news from South Africa, and German Bonds, which were marked down on reports from Germany that her

balanco of payment

earnings were insecure.

interest in Japanese Bonds revived towards the end of the week as there was reassurance

Lion of the Japanese Dlet on the debt conference in New York.

Exports

Rather

Than Aid

Cerman Minister's Proposition

Frankfurt, Aug. 31. The West German Vice- Chancellor, Franz Bluecher, said here today Europe should be given better

the current “Quarterly Sur. divided: City orguns are for about the effect of the dissolu- chance

vey" of Australia and New Zealand Bank Limited states in an article on "The Present Outlook in New Zealand" that:

"The combined circumstances of declining oversea assets and increasing advances in New Zealand, have exerted heavy pressure on the trading banks' liquid resources,

"Loss of

has been the roughout experienced

evidenced and is community, by the decline in stock ex- change prices and the

E.P.U. REPORT The second annual report of the European Payments Union careful is just out and gives description of changes that have occurred in the last year in this remarkable two-year-old sys- tem

Purpose of the European Payments Union is to provide

showing

to export to the United States rather than be maintained by American financial aid.

Vice-Chancellor Bluecher, who is also Minister for Marshall Plan affairs, was speaking at an opening ceremony of the annual Frankfurt Autumn Sample Falt.

said.

in

The Press in London is equal

pushing towards convertibility

"The EconomistTM has while

articles expressing published The gravest doubts whether the

Altention in the oll market Found would reach equilibrium

was chiefly in Angio-Iranians at any tolerable level above, which rose following the latest say, $2 to the Pound,

move to end the Persian dis-

Mexican Eagle pute.

and Oils were Trinidad gains of a few pence.

CONSOLS GAIN

One of the main barriers London, Aug. 31.

European exports to The market value of British guinst

were America

that country's Government stocks closed this werk back at the pre-bank rate high tariffs. Best tactical means levels.

feli They

shockdugly of overcoming American reluc- tance to tower tariffs would be after the bank rate was increased Urst to clear up the customs to 4 per cent, then steadied and

Europe, he slagnant security mars "atively a clearing account between all to

European countries, including began to recover, at first slowly..if question Britain.

then more "The purest method of over-

that are West of the

ending in a rapidly. that will burst of speed his week, those at Iron Curtain, and dimculties like

called for Herr Bluecher also coming

Old Consols rose during the bcing present

improvement in organisation of experienced" avoid countries having to settle the sitter Bank, "lies in an all their debts one with another

week by 45 shillings to 201.

Union the European Payments of export procent

in gold or hard currencies.

The recovery

from the low on increase

and for the free flow of money The article goes on to

This development, which Jane 24 has been £54.

and payments between nations. much out that New Zealand's great owes

to Sir Stafford War Loan at 70% has shown

that Gerhan He complained strength "lies In her highly Cripps, has grown steadily similer gains.

trade was meeting many difficul~ industries

the with

Industrials enjoyed more complicated

more ties abroad because of "dis- which

Dunlops criminations which have their although it has buying than selling. Impressive years, an

2 with the rase of products including encountered troubles

Rolls-Royce roots in the shillings

past," and which runge not only wool, but a large Dutch and German deficits and gained d. and Vickers 1/3d.

were designed to give temporary volume of meat and dairy pro- the Belgian surpluses, its work- Ford Motors gained 711⁄2 pence help to national economies. ducts.

ings have been smooth enough and I.C.I. and many other 68. Among Japanese bonds 1907's

He said: "The time has come The world is short of food, to warrant schemes for stretch-

£4 to and the demand for those food ing its mechanism more wide-gained nearly

£133, when such practices should be Zealand ly.

1030's £2 to £180 and Tokyo įstopped once and for all.” True products which New

£14. to £100 international economic co- Electrics

take their Oths were all down.

operation should place and subsidies to export in- dustries and dumping should be stopped.

developed primary

cover

and

southern

which

can produce-with-marked e-This past week the idea has ciency is so strong that an in- been mooted whether the coun- crease in volume of food ex tries of Latin America should ports will have a material effect

not be included. carmines at least carnings ba oversea

The

of ,countries In the foreseeable future"

with America, Latin The article concludes that

concl

Britain has been running in a although "New Zealand's im- surplus for the last four years, mediate problems may appear are. In meny

comple- ways 10 be complex",

x", the strength of mentary

the present her export

European Payments Union bloc increase in which, of course, includes the bring the ne overse earnings to correct the

oversens Sterling Arca as well Is European countries, present lack of balance,

!'should

"Increased output of primary products, particularly food- stuffs, is the first essential, and adequate supplies of farm plant, materials and labour are high in priority".

Cotton Prices Improve

Neiv York, Aug. 31, Catton prices kept edging into higher ground in quiet dealings last week as Texas deterioration reports increased anxiety over the crop prospects.

The evidence of latent buying Interest in the textile market,

plus a surprisingly small volume of hodging, aided a gradual rise Into the highest levels.

At Friday's close, the list ruled 27 to 48 points higher than the preceding week,

e:oś

ANOTHER IDEA A more interesting politica! being mooted is that the

ldcarea countries should

Sterling

form between themselves a kind of collective organisation on the plan of the one that has been

running in Europe since Mar-

zhall Ald.

*

los

man 6 per cent polash 23 at £98 and 7 per cents £1 at £107.

Coppers were mostly higher.-- United Press.

HONGKONG

SHARE MARKET

From Our Correspondent) Business on the Stock

Ex- this morning totalled

Noon

quotations morning's trans

the actiona:--

Effect of this would be to Bet some economic control over change trade

Individual $240,607.00. between Colonial and Commonwealth and areas and countries in Europe.

Valid objections to scheme are likely to be pro- rounded by Canada at the Autumn Commonwealth Con- ference,

the

The Canadians will come to that conference not only with

SHARES BUYERS

13 (199) GOVT. LOANS BANKS

1K Bank East Alin INSURANCES

Urices...

the usual blas against too strict | SHIPPING"

Asta Nav.

4.1425

SELLERS SALES 101⁄2 30,000 DO

20 € 1430

140

100 170

10

130

650 € 1.00

1.00

N. PL. Whack 145 Dock....****

ID 15 Provident *** Shal Dock Wheelock ...

centralisation of the Sterling DOCKS ETC. Area but also with specific doubts about United Kingdom financial policy as carried on by Mr R. A. Butler, the

In the tradition error, LAND, ETC

THE IMPORT CUTS Detailed

ailed British trade returns show that the heaviest of the Conservativo Government's Im- port cuts have fallen on raw materials.

in

Cost of Import of materials July 1982 was this £100 million compared with £185 million in the same month the

by the many economists who are

The uppermost interest was Increasingly perturbed about the

the

crop prospects as centred in likelihood of a recession over-refrigerators was reported by

aders looked ahead to tho taking this country after the nearly in 10 of the households Goverment's Record peak of the rearmament boom

An even surveyed.

larger estimate of the scaron, due on has been passed.

number actually had the use of

September 8. Mr Charles Sawyer, Secretary mechanical refrigerators since

The Census Bureau reported of Commerce, recently recognised | the ownership figures do not in-

ginnings from 1952 crop prior there fears by directing his clude the renting of homes zo ezentmists to make a survey of equipped,

beles compared with 170.350 the potential markets that will

About six of every ten TO-

prior to August 1 and 950,183 were halved compared with the ba nvailable to American

bales prior to mid-August last previous year and raw colton

Imports tell businessmen once defence pro-frigerators are post-war models,

In value from £20 while three in ten are less than | yese. duction has begun to recedo,

Statisticians pay the latest million in July 1951 to Among the Central Bank's three years old.

In July 1952. morb interesting findings are thete-

The number of

consumers

buying new and used molor-cors declined in 1951 for the first time

rinco World War II.

Exchange Rates but

་

121)

Budnets wat dona îà 'the' locat

· AROUT THE SAME

...: unometal (exchange / market Purchases of television sele, morning at the following rates washing machines, and radios: dollár (per $1)...

14.68 were about as frequent in 1981 as Sterling nate the Ei).

Indonesia guilders (per 100) 24,00 In 1940, and the number of con- sam tenis (per 100) sumers buying furniture In-Singapore (Siraita) creased.

|FIQ pinotros. (per, 100)

31.00

18.10

11.35

tolled vous per

and rubber imports

· on * ginnings Jaunex-tration is full in

20

Bright In view of the

005 larger crop prospect this year was due to put in quantity.

drew and not inerely, lower prices. obscrvors other

There are exceptions to this conclusive from the nothing total paying that the curly crop decline in the import of row movement had been doluyod by

Teatinathent Industry put weather comitions.

1.40

42

* t

1 Hotele din das

31K Land (0)

47.

1 Land IN) 4314

Shal Land 121

Humphreys .. 11:00

UTTES

P. Trem (0)

20

2. Tram (N) 195

40 200 431%

C. Hght (0) 6.85 0.05 2200 E BU

C. Light (30)

Medric *** 22.00

17.30 1734

160 12.70

17 1000

consumer

At the week-long Frankfurt Fale more than 3,400 firma, in- cluding about 1,300 from abivad, will exhibit mainly goods and finished goods,

The largest group of exhibitors will be the over 1,000 flims of the textile industry. The applied

trade with 430 firms comes arts next

Exhibitors from 40 European and overseas countries Include Yugo- Netherlands, Itoly, the

lavia, Austria, Britain, France, America Ireland, Switzerland, and Near Eset States-Reuter.

Pakistan's Trade With

Indonesia

Karachi, Aug 31. Despite the theoretični poten- tialities, there appears to be little

of

the prespect

increasing

In- irgigible trade between dontala and Pakistan for many years to come,

Indonesia

Pakistan needs Jute but in the form of burlap has not bago which Pakistan. yet been oble to produce

that co

*THIWANDI+

"TлPUNBUR

"DOIJBEVAIN"

"STRAAT

MAKASSAR" "TJMANTJET *TJIMENTENG"

BAILING B

每

Bupt.

#topt.

*

}

"TJILUWAIT""

beyt.

"TJIRADANK"

Brat.

*"VAN HEUTAZ"

Nept.

"TIKAMPERT

Sept.

*TJİWANGI"

Del.

Oct.

TJISADANE" "TEGELBERO” *STRAAT

MAKABBAR"

"VAN DEUTAZ“

Oct.

10

"TUBANTJET**

Oct.

"THOODAB"

bd.

*TJÍLUWAT

Oct.

18

TJPANAS”

Oct.

17

"RUTA"

Nov.

"THWANGU"

Nov.

Nov,

Nov.

Not.

*TAIMAN "TJIPANAS"

*TUSADANE”

*TJIWANGI"

Abgabe. Ditish, kilpation.

Barabala & Macaruar

MADA,

Bimacing.

Bingapore. Krem 8. "Atries à 8 Americk

Jabab Japan

P. T. Pople, stýkápore. 1. & 4. Africa Hingapart jakarta, Bomarans,

Agratkim → Atucansar

BineSpore, Djakarta & Belawak Dola Bjakarta,

Sematang,

L

Auttala z MRbassar Bingapore, Djakarta, Semarang.

Burebaja Mischaser

Japan

Singapore.

Japan

Maurtilus

8. Atrien & B. Amezler Singapore, Penang & Betawan Deži atania, Singapore, E; & S., Africa DJakarta,

Titebon. Semarang,

Rorabafa & Macassar

Blogspots, Djakarta, Bemarang,

"Bürskála a Micasar

Japah

Japan,

Sidrapore, Djakarta. Rematang,

Anrabala Maraka?

Singapote, Penang & Belawah Dell Djakarta Semarang,

Machitar

-Buckbalk

Singapore, Mauritius, 8. Ateles

8. America

ARRIVALS

From

AIACADIAT Kurahoja, Bemarang.

Djaltaria & Singapore Japa

8. America, 5. Attfèa, Maurkitus,

Singapore & Klanila

In Fort

"DOISSEVAIN"

Bept.

"STRAAT"

Bopt.

„MARÁBIAN”

"TSITUNDOR"

Nont.

B

TJIBANTJET"

Sept.

"TJIMENZENG"

Rept. 10

Украв

"TILUWAN"

Bept. 12

Підглаваг,

Japa

Indonesian Foris

Btrabala, Betharabe,

Djäkilia & Binzapart

KING'S BUILDING, Ground Floor.

TEL. 28016/18.

CHINESE AGENTS: & CONNAUGHT RD. V. TELS, $1106, 20199

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, HOBTON, BALTIMORE & PHILADELPHIA VÌR SAN FRANCISCO, LOS ANGELES AND PANAMA. NEXT SAILINGS

M.S. "TREIN MAERSK”

* M.S. "PETER MAERSK”

M.S. "NICOLINE MAERSK”

*

Sept. 31 Sept. 15

Oct,

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

M.S. "SALLY MAERSK”

M.S. "ANNA MAERSK”

M.B. "OLUF MAERSK”

**In Port Buoy A2

Sept. 102 Sept. 22

For Freight and Further Particulars please apply to:-

AGENTS:

JERSEN & CO.

Pedder Bullding.

Tel. Nos. 36066-9.

Dates and rotation subject to change without notice.

CDC Fishery Project To

Be

RUSSIAN

INTEREST

Wound Up IN CEYLON

London, Aug 31.

Colombo, Aug. 31. Russlan trade organisations;

the Ceylon have approached Chamber of Commerce and the Bahk of

the Ceylon for ecstablishment of business con- tacts here.

As forecast in the CDC 1951 Report, the Seychelles Fisheries project is to be shut down.

Government fishery research in these waters over two years bad indicated abundent supplica

Intensive efforts, however, by A Ceylonese trustriessman, Mr Corporation vessels from April R. Wantgatunga, who has just 1031 have not produced anything returned after attending the like

economie con- the quantities indicated by recent Moscow the Government survey, says a ference, said that Russia and

Soviet satellite countries were. CDC statement

establish trade con-

The sum of £350,000 was keen to sanctioned for the project, of nections which approximately £270,000 | Ceylon, has been spent.

The vessels, equipment and shore station will be sold.

Tokyo Request

To FAO

with

nationals of

Hungary was offering rice, sugar and flour to Ceylon, he added.

Meanwhile, trade talks be- tween Japan and Ceylon, begun some months ago, are taking final shape and the two coun- tries would sign an agreement early in September, usually reliable sources sald today.

Japan would supply cheaper New York, Aug. 31. foodstuffs, textiles and machini- ery to Ceylon under the terms A Food

Agriculture

the proposed agreement, despatch Organization

from of

which would provide reciprocal Rome sald that the Japanese grant of most-favoured-nation Government has requested the treatment, regarding nationals, com merchant shipping and customs

duties.-Router.

and

FɅ:0. Committee

on

modity problems to conduct a worldwide survey, of raw silk production.

A

memorandum from

the

Bureau of Japanese Agriculture Rubber Futures

and Forestry Ministry indicat-

ed that there was no inforina- tion available as to production and trade in China and Soviet Union.

Tram 10. 18.00 509, 10% although she grows 80 per cent

of the world jute supply.

Indonesia theoretically uses textiles manufactured frand Pakistan cotton they reach

but Triphone INDUSTRELLA

country in cloth. Canton Let ..

Indonesian

rubber reaches 19.30 2000 g 10.40

But Pakistan in many forms STOES, ETC.

Dairy

20 19.30 1005 ID through other countries, which

000 0.10 manufacture

rubber varied Whison...... 2TIL 27.30–154 27.40

1000 products required by Pakistan: 1700 17.00} Pakistan also requires timber

·Indo- and copra produced by heal, but Brids closer sources and of supply

from Burma 300046 Ceylon.

trade These

problema aro accentuated by the fact that neither country has a merchantsult fleet to transport, good be tween the two countries.

1. Crawford 24.70 COTTONS

Ewo MISCELANEOUS

Yangiga XD 440

2.30

Silver Shipment

New York, Aug. 31. "A large shipient of allver On Friday, the Department up the import of elals-iron coins, minted in Mexico, is on route to Saudi Arabia. The of Agriculture reported there and scrap in particulat.

The Block Marketa this post shipment consists of 500 boxes -for mid-August party price cation at 43.47 pound for week were rising steadily. As oach containing 4,000 coins then, akkiling 1⁄2 inch-United Fress. i the Financial Times" comment Associated Press,

..

The industrial déttlopment of the two countries may chahid the pattern of frate but until

trade. negligible visualised. *** United Press,

in

It said

In S'pore

tho

Prices

Singapore, Aug 31. of rubber

futures

China was the big- eat producer and Russia, ac- cording to all signs, was mak closed today as follows ing substantial efforta to Number 1 rubber, per ibi Increste coetön output.

September

November

The note asked flist the res

of the proposed survey be Number 2 rubber,

September published in the F.A.0.

publien "The State of Food and Number 3 rubber,

September riculture," and that a strong Number 4 rubber, recommendation be muão by September the organisation for the im-Spot rubber, unbated.

Blanket crepe- #lik Japan's provement

No. 1 palo crepa prpduction-United Press.

of

7814-70

7214-3

#713-08

03.04

70-781%

59-09

09-104

United Press.