1952-09-10 — Page 9

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 10, 1952.

MESSAGERIES MARITIMES Singapore Rule Self-Help Plan

M&M

*"LA MARSEILLAISE" ..sept. 16

"TALAISE"

"COURSEULLE:"

""LA MARSEILLAISE”

"GRENOBLE"

+"FALAISE""

.Bogh. 27

Leaving

Gutward For

Bept, 17 Yokohama & Fobs Sept. 294

1

14

..epl. 7

Sept. 16 Sept. 28 Oct. #

Kazteward For

N. Africa & Maropa Marselilas vin Saigon 2. African & Karopa ...Get. 14 Oct. 27 N. Atzien & Enrope

• For passenger and freight.

↑ For freight to Saigon, Alexandria, Genoa, Algiers, Oran, Tangler, Casablance, Havre, Dunkirk, Antwerp & Hotterdam.

Accepting cargo;

via Marseilles to all Mediterranean & West Africa Ports. -via Djibouil' to Madagascar.

Bubject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 26651 (3 lines).

LINES

EVERETT ORIENT LINE

Fast cargo and passengers service refrigeration space available for Korca, Japan, China, Philippines, Indo-China, Slam, Malaya, Burma and East Coast Indian Ports.

"REBEVERETT"

Arrives Sept. 11 from Manila. Suils

Sept. 12 for Singapore, Penang,

Rangoon & Calcutta,

"LENEVERETT"

Arrives Sept. 23 from Singapore, Sails Sept. 24 for Kobe & Yokohama.`

(Accepting carzo for transhipment Kobe/Posan and Kobe/Okinawa)

EVERETT STAR LINE

Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo- China, Blam, Malayn, Ceylon, West Coast Indian and Persian Gulf Ports.

FIRST CLASS PASSENGER ACCOMMODATION

M.Ş. "STAR BETELGEUSE”

Arrives Sept. 11 from Singapore Sailo

Kobe, Sept. 12 for

Osaka, Nagoya, Shimizu. & Yokohama.

M,S. "STAR ARCTURUS”

Arrives Sept. 17 from Japan. Saila

Sept. 18 for Singapore, Port Swettenham, Madras, Colombo, Bombay, Kara- chi, Kharramshahr & Basrah.

(Accepting cargo for transhipment Kobo/Pusan and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A Quoen's Building, Tolophons 312065- Chinpsp Department: Telephone 28293.

Trading In German Issues Postponed

WORLD

PRODUCTION

OF COTTON

Washington, Sept. 9.

The International Cotton Ad- visory Committee predicts that world cotton production in 1952 will be somewhat less than 130 27,800,000 bales harvested the 1951-52 season.

in

Relaxed

Singapore, Sept. 9. Dierchants who agreed 10 sell hard currency goods to Thailand for Sterling which they should have accepted hard currency have been giyen permission to execute their transselfang.

"In relaxjpe the rule, the Bingapore Government said the merchants had in fact misunderstood present ro sulations which require that hard currency be paid for goods imported into the Colony from hard currency areas.

The Indian Chamber of Commerce stated merchanta should appreciato the Gov- ernment gesture and ther should now ry to clear outstanding commitments. -Associated Press.

British Warning On Japanese Competition

London, Sept. 9. The Daily Mail carried this banner headline today "Japan

Steps up Trade War

The first shots will be fired at the international cotton trading conference at Bexton, Derby shire, next week when Japan's 10 delegates plead for the lifting of textiles an embargo entering Colonial markets.

A spokesman for the British Colton Board said today, "Our delegates will

go to the

on their

con-

ference with a full sense at

responsibility to Lancashire" Britain's leading textile centre..

Mr Kennelli Boardmon, Manchester Chairman of 14 textile manufacturing firms, gave this warning: "Japanese salesmen are on the spot to wipe out Loucashire overnight,"

He said 400 of them had visited East Africa in the last six months quoting prices 30 to 50 per cent below Lancashire prices. "The position is the same in Malaya and Pakistan," he said.

The Cotton Board spokesman said that delegates to next week's conference are concerned abiqui the future of the Trade.

The aim of the conference "was to see what the future holds and to promote "orderly progress and healthy competition."

The conference is the first international "get-together" cotton trading since the end of the war-Associated Press.

International Harbour Conference

Tokyo, Sept. 9. Some 20 nations will send delegates to the International Harbour Conference to be held in Kobe for three days beginning on October B under the sponsor- chip of the Japan Harbour Association.

The conference is the first of its kind in Japon since the war, and will be attended by representatives from the United States

Canada. Korea, Taiwan, Hongkong, French Indo-China, Thailand, Malaya, Burmu, India, Indonesia, the Feyzi Argentins, Australia,

New

other

countries.

|·

For Development Of Ceylon

No Need For External Loans

London,

The Ceylon Government and the International Bank haye published a report by a mission which the Bank had sent to study the programme of economic development In Ceylon.

Ceylon's population is one of the fastest growing in the world: the annual increase is 24 per cent.

pf

used

In spite of this the mission reports that the resources the country it properly aro adequate not only to frod the new mouth, but also to raise the standard of living.

The report adds that this cari be done without extemal Jonpa.

The mission

recommends

new six-year plan of develop- ment to begin in October, 1057, at the end of Ceylon's present six-year plan.

One part of the effort is 10

be the improvement of the present production of rice; the

other part is to reclaim Jand by Jungle clearance and irriga=

tion.

The mission says that the cultivated area of Ceylon could be nearly doubled, though much

of the reclaimed lonti

would not be as ferillo os land al- ready cultivated.

TOTAL COST

Will

Industrial development follow the improvement in agriculture.

The total cost of the six-year-

be about £ 120 plan would millions,

The mission reports that Ceylon should be able to find this sum itself and the country has also the administrative and technical staf, needed for the

programme.

HONGKONG

SHARE MARKET

(From Our Correspondent)

INVESTING IN SOUTH

AFRICA

Minister's Romarks

Capetown, Sept. 9.

Page

ROYAL INTEROCEAN LINES

*STRAAT

There would be no heat- tancy by overseas investors IWANO!" to invest their money in "THDANTJET" South Africa if they had "STRAAT.

MAKASFAN" not been told by people in

*TEGELDERO" the Union that their money

“ESBARANE" was not safe, South Africa's JĀPAT Minister of Economic AL- fairs, Mr Eric Louw, said "" today,

BAILINGB

Diskurth, Samaisña) Burukula

Manlia, Aingen979 F. * *. ADIA

A.

Djakarta,

Remeras

"TSIBADANE"

#TJDIENTENG"

"YAN HEPTBZTM

Sept. 17

-Bapt. 10 Sept. 21

"äärabkla & Macazear singapore, Pjakarta Palembang •

Belawan Dell

P.F. Porin, Singapore, E. & §. Afțion Amaren.

"THRAMFER"

Bapt, XI

A

Oct,

1.

Bist Dort. Diskarta,

"Eurotala &"Miscabar

Bombrant,

98.

T

Oct. #

Manila, Hingapore,

Aauritius,

Atrics &.B, America

Gel. 11

Janja

Pet. 13

Jabi

Oct. 10

*TLUYA"

Nov. *

"TWANGI"

"TASMAN"

Now, 2

Nov. E Nov. B Nov. #

Nov. 10

Nov. X匠

#pita, Bingapore, 8. Africa, ✯ B.

Ahierica

Jakarta,

Blachasar

Semarang,

Federated Chamber of Indus- TJIPANAS"

kres

Ho told the South African

here: "Any | "THJAPANK" Congreen South African has a perfect fight to diciamo and

to disagree "STRAAT

MALABEA violently

he wishes, with the Government's policy with re-

Bund to any matter, but however "TUWAN“ nation taken by the Government, disagree with the

be

he may

should not ipke the matter beyond the borders of the Union and certainly not to attempt to

country. that

effect

ion against | "TIILUVAŊ“

Macar

Begaraok

Djakarta, Semarang. Burgbats &

Singapore, Djakarta.

surabila Mpeg

Зарад

Bingapore, Kjakarta. Semarang,

Burabila 'Macassar

Singapore, Penang & Belawan Dell

Japan

Bincapere, Baurlilas, B. Africa, a

8. America

Singábora,

Surabala

ABRIVALS

"STRAAT

MAKAṆŞAR”

Sept. 10

Sept. 12

Sept. 19 Sept. 17 Bepl. 17

made here to be "TJIBADANE" Overseas investors "TIMENTINO"

would no longer have confidence "VAN HEUTEZ" Ex-abroad, together with lurid ac-

3usiness on the Stock change this morning nmounted to B134,145. Noon quotations and the morning's transactions.

SU4EN AUYERS SELLERS SALES

BANKS

HK Das... 1423 East Asia....

SING

Ama Ngv, XD 1.4214

DOCKS, ETC.

N. PL. Whart 01% 0.70

Dock

Providens, 12.20 12.40 3700 € 12.20

B'bat Dock.. 1.05

Wheelock ..4315

LAND, ETC.

|

in South Africa have been cabled

counts of conditions which were supposed to exist in the Union".

"As a result, Mr Louw said, a number of British and Ameri CAN journalists had during the this descended like fast six months quitures on the

of local lib no knowle conditions, they sent despatches which could only be described as a issue of misrepresentations and fabrication,

"Judging from

# number of

Press despatches which I have

200 @ 43% in my possession, it would ap

inic Hotel 28 0.03 1500

HKC Land (0) 5011⁄2

HK Land (N) 40},

S'hal Land 1.35 1.30

UTILITIES

with

p.00pear that few of these visiting

Journalists are troubled scruples of any kind. After all, they are gelting free trip and

Tram XD 19 10.20 050 @ 10.10 drawing good pay.

Peak Tram (8) 30

Peak Tram (N) 15

Star Ferry 201

C. Light, (0) 935 930 1000

2:00

9.20

U20

Light (N) 0.18 0% 000 Electric Xb 22002210. Macao Eléctric 10.30 Telephone 27.00 17.00 600 a 17.70 INDUSTRIALS in

1

that The report argues present circumstances the coun- try may gain more from large number of arnall develop- ment projects than from small number of large-scale projects.

PRIVATE INITIATIVE

#

Cement. 17.30 1735 Hope STORES, ETC.

Dairy..... WALIOS

10.30

like it,

ECONOMIC KING-FIN "The stronger the stuff they send

OVET, tho more their readers will

So why Worry if a friendly country. whose hospitality they have enjoyed, in slandered in the process?"

In years past, said Mr Louw, people in Britain and, the United Stafes had taken tile interest Mapeim too p 1740 In South Africa. For example, 1. Crawford 201

legislation on exactly the same COTTONG

Ewo

as that being now so avidly discussed in overseas nows- papers, was passed by the Union 1945. Then

2.10

It found that the ultimate Grain Prices

possibilities of hydro-electric power were smaller than had been supposed.

It stresses the need for prl=i vate initiative · as well 05 Government action.

was

In

Chicago

Chicago, Sept. 9. Chicago grains Joined the The chair an of the mission major commodities in

a mixed Sir Sydney Caine whe performance featured by casiness Was formerly Financial in soybeans under pressure of Secretary, Hongkong, head of The British Treasury delegation quidation..

at Washington and is Vico- Wheat closed today 1% higher Chancellor Designato, of the to 4 lower and soybeans were University of Malaya.

1% to 3% lower, Prices .closed Eight countries were repre- today as follows:— septed among the twelve per-

composing

the mission, which spent ten weeks in Ceylori. FAO, and WHO. nomi- nated the members who specialised in problems of food and health.

Sons

The Rubber

Markets

and,

Singapore, Sept. 9. and other

Prices of rubber futures closed The conference will exchange today as follows Information and views un Number 1 rubber, per ib, muttera of trade, harbours,

Mexico and Washington, Sept. 9. To keep the Russians from cashing in on approximately $476 million worth of looted Kierman bonds, the U.S. Gov- The prediction came in the harbour facilities and other ernment has asited dealers to wake of the disclosure that the technical matters. hold off trading in them for a United States cotton estimates while longer.

had

The Japan Harbour Associa- been

downward, tion will propose at the meeting revised this time o 13,000,000 bales.

Unless bad weather inter-the creation of an international

harbour

organisation.---France- production out-

Money borrowed abroad dur- Ing Germany's. Ilitler and provenes, cotton Hitler regimes is to be repaid side the United States generally Presse. under a recent law passed by will be at a continulag high

the West German Government, level, particularly in

Egypt,

In the debate, it was stated that Pakistan and Turkey. In Turkey, there had been four billion a record crop may be harvest- deutsch marks (about US$950, ed. 000,000) worth of such bonds, payable

the cotton produc-

Howeco will be appre- |

In dollars, Pounds tion In Sterling, Frenchi

trones and clably under the last season duo to drought and insect damage, he report såld.

ather foreign currencies,

Under

Hitler Govern the

Tokyo Stock Exchange

with

Tokyo, Sept. D. national attention con- centrated on the general cles 1lon on October i activities on the Tokyo Stock Market ere Hight.

Qelober

November

December

Number 2 rubber, Octobe Number 3 rubber, October Number 4 rubber, October

spot rubber, unbaled

Blanket crepe No. 1 pale crepe

100-107

United Preza.

NEW YORK MARKET

Governmeri in there had been no combined sitting of both Houses of Parlia ment

70 two-thirds majority, but no one in Britain or the United States showed the least interest, Nor did if cause any comment in South Africp.

Other reasons must be sought

for

the present "campaign of vituperation and slander" in the overseas Press.

Mr Louw could see no reason to expect an economic setback in America. America was the king-pin" in the world's economic pet-up.

depression there would have repercussions in most Wheat-price per bushel

countries, including South Spot

3.3314

Africa, but he could see no September December

2,30-2.301 reason to expect it. Reuter. March

2.44 May

2.4416-2.45

Cor

Spot

1.0314

September December March May

1.78 4.713-4.78 1,70 1.8033-6

Byo

Spot

September

Oats

Spot ..... September

United Press.

LONDON TIN MARKET

Optimism Over Japanese Debt Talks

From

B. America, 8. Africa, MaSTIILIE,

singapore & Mania

Macassar Burabala, Hematang,

Djakarta singapore

Харад

Терап

Belawan Dell, Penang, Ringapore

TEL. 28015/18,

KING'S BUILDING, Ground Floor. CHINESE AGENTS: 82 CONNAUGHT RY, Q. JELS. 31196, 28193

MAERSK

LINE

FAST FORTNIGHTLY SERVICE TO

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

NEXT SAILINGS

* M.S. "PETER MAERSK"

M.S. "NICOLINE MAERSK”

"ANNA MAERSK”

M.S.

*

Sept. 16

Oct. 2

*** Oct 16

Also accepting cargo for Portland, Maine

ARRIVALS FROM U.S.A.

M.S.

OLUF MAERSK"

MS.

"LEXA MAERSK”

M.S. "LAURA MAERSK”

Oct. 2

-Sept. -22

Oct, 18

For Freight and Further Particulars please apply to:

AGENTS

JERSEN & CO.

Pedder Building.

Tel. Nos. 36086,9,

Dates and rotation subject to change without notice.

Economic Expert

Urges Increased U.S.-Japan

Trade

New York, Sept. 9.

Mr Reginald Marlow, former Controller of the Economic Section of Far East Command today urged the United States to develop and maintain increased reciprocal trade with Japan.

It was the beat means of ensuring her continued friendship and forestalling the possibility that Japan will be forced to seek renewed trade with Communist Chins, he said.

London, Sept. 0. Financial circles believe that the conference on Japanese He is credited with miny

Japan -Ho emphastood that "external" debts now being held economic and banking reforms is a logical bastion in the Far

in New York will be success- in Japin during four years' | East against Communiem fully concluded in the near

Ervice as qn, economic ad the United States and Jopen future.

viser,

-have: 4 mutuni need of tach

other.

Since the declaration last week of the Japanese Finance Minis ter, Mr Theds, to the New York Journal of Commerce, the Bri- Aish delegation has submitted new proposals.

He told the United

and

Press that export is the lifeblood of "Japan and Russia do not which like each other and Japan the Japaneso economy

Pent is in a good condi- would be drawn into that pr tion but mainly because of hit only as a last respet

$700,000,000 accruing Mr Ikeda had said that the about

"The best safeguard is re- question of knowing whether or annually from the Korean pro New York, Sept: 9.

not Britain would accept a Forces expenditurca.

curement and the Occupation ciprocy trade because happy people don't embrace Commy- settlement in the devaluated

This figure would Pound Sterling was a major diminish as the United States

probably hism

United Press. obstacle in reaching an agree withdrawal progressed and the

Korean situation become more New The new British proposals stabillecd. deal with a jemporary solution

London, Sept. 9. The tia market was firmer this morning. Turnover was 85 tons Prices of rubber futures closed of which 35 tons were for cash. today 45 points lower to 10 Pricor closed today at the end of the official morning session higher with sales totalling contracts.

September contracts

as follows. showed Independent strength in covering before the position ex- Foot un, buyers

Spot tin, selfers pires on Wednesday. The later pure done at positions eased with lower Lon-Three-monus Un, buyers Prices closed today on follows: Betlement don and Singapore cables. Tren-months in, selfers

Business done 'at. September

20.20 bid 28.00 nominal November

Decemlir "Fluctuations in speculative January (1063)

It added: "Texule demand In ment, it was said, about half the United States has broadened of them had been bought back and they were in Berlin banks recently and prices have ad- when the city fell to the Red sumption rose in July, sales ex- vanced. In Canada, mill con- Army. Soon afterwards, the

panded and inventories drop- Germans say, they disappeared. ped."

issues was the only notable ac- A month

In Europe, there are reports tivity. Fluctuations ranged from ogo, it was an- nounced that

on occasional rise in textile 200 o 300 yon in a single day. agreement had been reached on the settlement demand but the situation is still

Japan Light Metal, which June German

debts. disappointing. foreign

had been Ingering around 130 July Germany and Its private firms

Japan,

---" however

the yen due to the pending problem August are to resume

had decided to of paying interest Government

merger with Canada Solomber eld bonds, and will issue raise the limit on colton yarn Aluminium, for new bonds for the sum of the production.

Induction, went for November

up over Spot capital

of

on

of

In

The SEC bald gain, Europe and Middle Eastern

countries.

of

February Mardi April May

Ectober

28.03

25.00

23.54 nominal

934-049 Dod -United Pres.

ment.

London

Plus in

York Futures

Sugar

Now York, Sept. 0. Prices of rubber futures closed today as follows

Contract No.

pas to the dollar clouse. The now me emphasized that Japan proposals are insed on the re-economic vacuum, nasmuch Agreement reached in as this special income repro- re- cents over half of Japan's total concerning the imbursement of the German exports this year, estimated at. loans, which provide for payapan will solve her future

$1,130,000,000. pient' in spypjusted. Pounds oc-

on her own self-interest and I October think it in short-sighted France-Presse

Exchange Rates Fonding to the dolier clause.

· Ikusiness was dose in the Jacpl

24.00 nominal | unofficial exchanga market

25.IT

29.00 bid

24.15 hominal

21.30 bid

24.50 bid

morbing at the following rates:-)

24.39 nominal

5 Galar (per 33) 247

24.00 idi.

Sterling nate (per £)

15.33

13.40 nombuł

Indonesiays gouders (per 1001"

24,50

Ham Ticals per 100)

34.30

10.10

225.75 -Inited - Prem.

12.079

21.30

intercat that has not been paid. International trude in cotton 140 yon upon tin: approval Since then the US. Securities is still very largely confined to the project by the Foreign

LONDON MARKET and Exchange Commission has old crop barter transactions in Capital Induction Commission. received me

dollar cotton between mony Inquiries about

Sifice the end of the week bo-

London, Sept. B. when trading cen

fore last begip

there has been solid Prices of rybbër kituren closed bond-

demand for textile shares for today as foliowa- holders may

consult want to

A much lower-U.S. crop Investment

- purposes. Tokyo -Humber 1 rubber, in pence their banks or brokers on the estimate will undoubtedly be Spinning was quoted at :: per 25.

Qotobor current market value of Goren-extra Patrong. bullish in yon and Telkkoku Rayon, at 185

November man securities as an indicationfluence on the world cotton yon, on the expectatio of a "December of what their value may be markets and particularly in the capital increase through a free under the forms of settlement. United States itself. --- United grant of new shares, sUnited ---Associated Press,

Freas.

Press

208

October/December.

January march April/June

22 2116

21-22

Bingapore 18ITO!#) FLC plasted (ber '100)

JAPANESE BONDS

Americans not to recognise the Zay Importance of increased -- 20

Pepper Market ciprocal trading with Japha.

Strengthens

187 nomina!

September Oftober January Spot

Context

$30 bid

Blatch

Boihinal

MUST EXPORT : "Since Japan must export to November New York, Bept. 9.

live," "end" should The United MAY The atoper anarkat strengthen- Blaten not maintain such trade, my

tone, although us | Japan will it long-Replember aces was reported on the quieting syce at side. Deniers believed that the

edin

appeared

potter Inquiry

Spot

think most intelligent

to be ins; United States and huch trade

Trom

will assial the Japanese to solvo the problem of surplus popula

London, Sept D Japanére bonds d

Kés, of 1899) 004

Spel material was gisted upon and burntessi, 1331⁄2 40 61.00 a pound, with no offer, I materials from

94 On shipment position, the first States, 1541⁄2 half of September was indicated 00-5/10 at around $1.54, a pound, on an „Uplied Frem ex-dock basis-Uniteji Press.

- *}* (4), of 1910)

"D" (83 07:1934) ****** ((5345: of 1930):

"When people are happy and contented they are not likely to turn to Communismo.

Copra Quotation

New York, Sebt. D. Copra was Augied today at $147.00pm abortion, nominal Cocoanut oll was quoted today at: 10 cents a pound, nominal.

United Press.