1952-09-12 — Page 9

MESSAGERIES M

Arriving

*"LA MARSEILLAISE" ..Brpt, 16

"FALAISE"

THE CHINA MAIL, FRIDAY, SEPTEMBER 12, 1952.

MARITIMES World Bank Warned Of Danger

LEAVINE

Sept. 10

Бур. та

13

Sept. 13

Oct.

Hept. 30 Oct. ...Od. 26 Oct.

.....Sept.

*"LA MARSEILLAISE" ..pt. 20

1"COURSEULLES"

"GRENOBLE"

+"FALAISE"

•

M

Outward For

Yokohama & Kobe Улучай

Homeward For

N. Attica & Europe Marseilles via Baigun

N. Africa & Europe N. Africa & Europe

For passenger and freight, For freight to Salgon, Alexandria, Genoa, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:

--Via Marseilles to all Mediterranean & West Africa Porta

Via Djibouti to Madagemar.

Bubject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Tel. 26651 (8 lincs).

Queen's Building (gr. floor)

EVERETT

EVERETT

E

LINES

ORIENT LINE

Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China; Siam, Malaya, Burma and East Coast Indian Porta.

"REBEVERETT"

In Port Loading Здійн

Sept. 12 for Singapore, Penang,

Rangoon & Calcutta.

"LENEVERETT"

Arrives Sept. 23 from Singapore. Sally.

Sept. 24 for Kobe & Yokohama.

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

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

FIRST CLASS PASSENGER ACCOMMODATION M.S. “STAR BETELGEUSE”

In Port Loading.

Sails

Sept. 12 for

Kobe,

Nagoya, Yokohama.

Shimizu

Osaka, &

M.S. "STAR ARCTURUS" Arrives Sept. 19 from Japan. Saila Sept. 20 for Singapore, Port Swattenham, Madras,

Colombo, Bombay, Kara- chi, Kharramshahr & Basrah.

(Accepting cargo for tranihlpment Kobe/Puran and Hobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A Queon's Building, Telephone 31206. Chinoso Department: Telephono 28293.

PERISHIGATOISISSIES,

NOTICE

SALE OF W.D. SURPLUS STORES

Tenders are invited for the purchase from War Depart ment of surplus stores, in five lots, as listed hereunder:—

46,800 ft. lot 1: Rusted Water Piping MS, S & S, 1"

2,000 46,000,,

Lot 2:

Lot 3:

Lot 4: Lot G:

-

"

16"

2"

30

11

3"

"

4,500 9,000

(All quantities are approximate)

These stores muy be inspected on applleation to the Omeor in charge R.E. Stores, Engineer Stores Depot, Sham- zhulpo, Kowloon between the hours of 9 a.m. and 12 noon, und 2 p.m. and 4 p.m. on Mondays, Tuesdays, Thursdays and Fridays ONLY on production of the Tender Form, which, together with the Conditions of Sale, may be obtained from the Stores Officer, Chief Engineers, Land Forces Hong Kong, A & B Blocks, Queen's Road Enst, Hong Kong.

A sum of HK$1,000.00 (in cash) is required to be deposited with the Command Cashier, Victoria Barracks, Hong Kong before the Tender Form is issued to any prospec-

i tive purchaser.

Tenders should be completed by prospective purchasers the undermentioned by 10:30 a.m. on and returned to Wednesday, 1 October 1962 and marked in the bottom left hand corner of the envelope "TENDER FOR W.D. SURPLUS | ETORES." Tenderers must quote price for each lot.

"The Chief Engineer,

A & B Blocks, Queen's Road East, Hong Kong

Both successful and unsuccessful tenderers will be notified by the Chief Engineer and the deposit,of HK$1,000.00 will be refunded (in cheque) by the Command. Caakler direct. Successful tenderers will be required to clear their purchases from the Engineer Stores Depot, Shamshuipo, Kowloon within 14 days of date of acceptance of their tender.

Creeping Inflation

In U.S.

Washington, Sept. 11. Croeping inflation in the United States is forcing the

to average American

cut

down his living standards or get into debt to maintain them at pre-Korean War

levola.

Statisticians in the Department

of Labour who surveyed 01 cities and towns report that in these In 1950, when the Korean war

urban areas the average family

Of Recession In Industrial Countries

When Rearmament Reaches Peak

Moxico City, Sept. 10.

Full employment în industrial countries would not be maintained when once the peak of their rearmament was reached, the Pakistan re- presentative, Syed Amjad All, told the Board of Governors of the World Bank here today.

Syed Amjad Ali, who is this year's chairman of the United Nations Economic and Social Council, said that when industrial production was diverted from armaments, under-developed countries could not absorb the released potential because of their low purchasing power.

"We have seen within the last ten months nome- thing of the kind happen in the toxtile industry. that

On the one hand, hundreds of mills went out of production, and on the other millions of peple are still with out a shirt to their backs.

began, was spending six per cent more than it earned,

The survey showed

ike

"Plans

Syed Amjad Ali said:

eity family average income then was 4,300 dollar: (£1.536 Poumis Sterling) a year, with average

should be formulated, rent production level probably spending at a rate of 4,700 dollars

and machinery created so that 4 year

were just returning to pre-war The 400-dollar (over £142 the switchi-over from arma levels and the food grain yield Sterling) difference was financed ments clvilion production was still slightly less than be- by either getting into debt; using could be achieved without a

tore the war, savings, or getting money from time lag and recession be avoid- such sources as inheritances or led. Insurance policies.

Much of the over-spending was traced to panle on ercdit through fear of shortages and higher prices as a result of the Korean war.

Government analysts say that the 1050 pattern is being followed today as higher taxa- tion and steadily rising living costs hit family budgets and wage packets.

to

"I would emphasise that full employment in highly-developed countries, especially those of Europe, can only be maintained by creating effective and lasting demands through raising the standards of living of the hundreds of millions of Asia,"

The Pakistan representative appealed to the mooling

"Turi your faces to the East and you will see the glorious dawn of a now morn, a new future and a

new cra,"

Soaring food prices over the past two years forcing

Are

house- millions of American

Syed Amjad Ali said fluctuation wives to adjust purchases to a in prices and commodities was shrinking purse by crossing off vitally interesting Asin end the grocery shopping list such the Middle East. Under-develope items as slonk and butter in countries

feared commodity favour of cheaper meat and agreements would fix prices at low levels unrelated to the prices of manufactured goods.

margarine.

THE HARDEST HITT The lower-paid wage earners and clerical workers are hardest hit. Their complaint is that wage increases have not kept pace with the 15 per cent rise in food prices alone since the Korean war began.

About 30 per cent of the family budget is used for food und food prices, higher now than at any time in the Nation's history, are still going up.

"The prices of some manufac lured goods have been increasing due to an increase in labour cors," he said. "Thereby, under developed countries whose stand ards of living are already miser- ably low are mide to subteribe

to the maintenance of the higher

"Meanwhlie, Asia's population has grown by upwards of 100,- 000,000

persons, leaving little doubt that the material stan dards of the average Asian have deteriorated rather than im- proved proved!

6150

Trade figures for the Far East also reflected changed economie patterns. In pro-war years, the free na a whole maintained a trade surplus. After the war,

the trade balance for the Far East as a whole showed deficits of approximately US$1,000,000,- 000 in 1947, 1948 and 1940.

BASIC CHANGE The Korean war reversed irend temporarily, and recent trade

figures for many countries suggest the area as a whole again is in a defielt trade position."

this

Insofar as these deficits were incurred to reconstruct and de- velop the economies

of under- developed Asian countries, ne considered continued, "they ought not to be Dr as a permanent

the basic post-

5

+

Portugal's Plan

For Colonies

Lisbon, Sept. 11, *The Portuguese Govern- ment has approved a 13.500 million esouces (£169,- 750,000) five-year develop. mont plan for the Portuguese Colonies.

This money is to come out of taxes, Customs dufios and special loans tho Government is to float on the Portugueso market as from next year London Express Service,

Tremendous Progress In Japan

serious symptom."

He listed standards of living of the peoples war economie change the dis- Economic Recovery of highly-developed countries." placement of sotne

The

of Asia's principal exporta by substitutes.

"Perhaps

the most striking caso of these has been the

In eight principal American | mechanism in regard to thoirtual collapse of the American recovery since World

pound,

needed

Fare 9

ROYAL INTEROCEAN LINES

STRAAT

MARAJBARY. **TJILUWAEW

"TJIBADANE"

"TJIMENTENG" *VAN HEUTEZ"

"TJIKAMPEK”

"TJIWANGI"

"THDANTJET” "STRAAT

MAKASSAN"

"TCÕELBERG" "TJADANE" "TJIBODAS”

"TJILUWAN"

"TARMAN" #RUYE" "TJIWANGI"

"STRAAT

'SAILING S

1

Sila & Bacariat

Djakarta, Semarang,

Singapore, Djakarta Palembang

Belawan Beli

Sept. 11 Bapt. 14

Тарал

Dept. 17

Hept. 19

Sept. 27

Sept. 27

Djakarta,

Oct. 1

Oct. 1

Oct. +

Det 13 Oct. 13 Oct. 14

1

Oct. 14

Oct. 20 Nov. 1 Kov. -

E

*

P.. Porte, Singapore, E. & S. Africa Bingaboro. Djakaria, Semarang,

Barabala Blackmar

Macassar

Singapore,

Semarcog. Kurabala

Djakarta, Remarang, Buradals & Macasiar

·Manila, Singapore R. & 8. Aldea Mantis, Bingapore, Mavestios, B.

Africa &B. America

Japan

Japan

Djakarta, Seniurang. Burabala

*MACHSERT

题

Singapore. DJakarta, Semarang,

Búrabala & Macauior

Aingapore, Penaliz & nglawan Dell Japan

Singapore, Jakarta, Semarang,

Burabala & Macanyar

**EJIPANAB”- ***JIBADANK"

Nov.

5

Зарад

Nov.

Kingapore, apritur, 9. Africa, & ... America

MALAKKA

DTJHUWAH"

Nov.

Nov.

10

Danila, Singapore, S. Africa, &

America

9.

Kingsport, Djakarta, Yematang

Surabals & Macassar

ARRIVALS

B: America, 8.

From

Africa, Mauritius,

Blagaporn & Maasila

Semarang,

Macassar, Burabala

"STRAAT

MAKASSAR”

"TJILUWAIT"

"THBADANE" *TJIMENTENO"

in Tort

In Port

Sept. 16 Sept. 17 SepL IT

Japan

Jupan

"VAN HEUTSZ"

Djakarta & Singapore

Nelawan Deli, Prazne, & Singapors

TEL: 28015/18

KING'S BUILDING, Ground Floor.

CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS, 81106, 25131

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

* M.S. "PETER MAERSK”

M.S. "NICOLINE MAERSK” M.S. “ANNA MAERSK”

*

Sept. 15

Oct, 2

Oct. 16

Also accepting cargo for Portland, Maine -

ARRIVALS FROM U.S.A..

M.S. HOLUF MAERSK"

M.S. "LEXA MAERSK

M.S. "LAURA MAERSK"

AGENTS:

JEBSEN

Pedder Building,

Sept. 22 2 Oct. **!**. Oct.

18

CO.

Tel. Nos. 86066-9.

Bates, and rotation subject to change without notice., At liberty to procesá via other porte to load/discharge `cargo.

BUFFER STOCKS

San Francisco, Sept, 11. of working

prica

Japan's rapid economic War creation of buffer stocks was cities during July, these were the also questioned

under-market for Japanese silk," he II is an assurance that she by average prices with which the developed countries.

mmented bright side of the will soon become a leading For Freight and Further Particulars please apply to:-- housewife has to juggle in bud "Experts have suggested that

Asian

pro- economic picture, he world power again, the

International Bank should geting for the family meals,

Jisted the efforts which the minent United States in- provide finance for the proposed prople themselves were making dustrialist said today after a Hound steak at B/- a pork chops at 6/2d, buller at buffer stocks.

to raise their standards 6/-, bacon at 4/10d, coffee at "I respectfully disagree, as t

of visit to Japan and Korea. lving, 1/3d a ib. A one-pound lont of think the finances at the dis- economic

agraiian reform and

development bread cost 1/24, a dozen eggs

pro- Nathan Cummings, chairman were 5/6d, a quart of milk cost of the Bank are vitally grammes,

of Consolidated Grocers Cor- for"

and development 1/0d and nine shillings bought that the idle resources of

He cited the technical and poration, said: "Japan is making the 15 lbs of potatoes.

economic ald which Asia re-tremendous progress in hor re International Monetary Fund

abroad and for covery and ceived from These prices represented an

cannot help but are an appropriate source." increase of more than 15 per

The problem of financing the out of comparison pointed become a leading power again." out that, exclusive of military During a brief stop here on cent over pre-Korean levels.

development of the Middle East aid, Marshall Plan assistance to his way to Chicago, Mr Cum- NOT AS PROSPEROUS

and Asia was much more gigan-Europe between July 1945 and mings predicted that Economic surveys show that the than the total foreign finance December 1650 amounted to for exports to Japan were going. markets most Americans. arc carning now-moving into the countries US$23,800,000,000 in loans and to be Arm for a long time.

ever of the East, Syed said. before. But with higher levels of In the field of technical as-grants, while Asia during the Japan's economy was recovering same period received $6,100,000- much faster than European taxation and prices they are not sistance the United Nations and

000 from the United States-economics, ganerally speaking as prosperous Its specialised agencies-tho

before

World Bank, the Korean war.

the International Reuter and United Press, The case of "white collar" Monetary Fund, the Point Four worker earning 6,000 dollars scheme for under-developed Colombu (£1,785 Sterling) a year in 1950 countries and the

Plan-were all contributing to would be spread technical knowledge. increased by 700 dollars (£250 Syed Amjad All declared that

more money

03

is taken as an

now than

Torlag, his emple.

Sterling) as

authorised under of

all countries in Asta only

wage control regulations. But Malays had a per capita in- the analysts say that his ex-come of more than $15 in 1949 penses-food, clothing, rent and

nd and only half of these countries services as well as increased had a per capita income taxation would be

be over 880) ceeding $100. dollars

*INGH PRIORITY

QX-

more for the rame living standards as in 1950, In terms Half the world population, 1930 living in Asia, shared only 15 1930,

of a 100-cent dollar in

dollar

68.8 con's.

HONGKONG SHARE MARKET

Mr Cummings, chairman of | the largest wholesale food 'dis- tributors in the United States, said that during his two and a half week visit as the guest of General Mark Clark, he was

Mintly impressed with the

and industry of the Japanese people,

350,000 tons will

"One of the reasons for their rapid economic recovery in that thooo people are willing to work seven days a week, ho said, | "Their economy is really coming (From Our Correspondent)

back by leaps and bounds,"

Mr Cummings sald Japan the purchasing power of today's per cent of the world's income.

must impont 1,008,000 tons of Business an is estimated at 62.7 cents.

the Stock Ex-unpolished rice this year, Ap- "If the numbers of economi-

"change this Before Korea, it

distressed persons be a

morning amounted was about cally

proximately to $210,150.50. Noon quotations be purchased from the United criteria of the

of urgency

and the then the

morning's trans- development On top of the weakened con-

needs,

States, he said, with the re- actions:- and needs of As

mainder coming from countries trols programme, Mr and Mrs probleins

a high BHARES BUYERS BELLENS BALES in the Orient. command America face a new assault on must the family budget through such priority," he said.

BANKS The Pakistani delegate also things as the recent 53-<lay stock strike

East Asia... 143 severe suggested that a new worldwide and the

economic conterenco such as drought.

Bretton Woods, where the Bank

to cause AA

This is expected higher prices for fresh and canned fruit and vegetables be- cause Congress exempted them from controls and they are the hardest hit crops in the drought area.

GLOOMY FORECASTS

and the International Monotary

11 Bank

INSURANCES

Union ***** Underwriters 5

Fund were created, should be DockS, ETC. called to take stock of develop- menta since 1044.

770

Last year Japan bought some 47 @ 1429 | 200,000 tons of rice from the United States. The increase in Japan's rice-buying programmne was in line with the Govern ment polley to have a reserve supply available.Unlied Press.

N. PL. Wharf 6.63 0.70 Dock

20 Provklent

12 12.30 800 € 12.50 1.03 Wheelock.... 437's 44

d'hui Dock

LAND, ETC.

Jik Hotel

Tk Land to IK Land (N)

+

035 0.05

44 XD

1004

Humphreys 12.00 12.00 1000 @ 13.00 ) UTILITIES

The post-war revival in the Far Eant was hampered by un- settled political conditions and disruption of long-estabillahod In the Southern State of commercial

economic and of crops relationships. Georgia, where mlics He shrivelled in the fields, milk

The time for a new review may prloes are headed for a peak ho at hand, Mr All said. of 2/- a quart by September.

Continuing bis description of Gloomy forecasts are that the the post-war picture of Asia, he overall cost of living will con said that it was one of further

upwards each deterioration tinue lo creep

in already low

Macze Elec. 10.40 month,

average living standards and Telephon.... 17.00 17.00 emergence of a number of new INDUSTRIALS higher economic problems.

Because the steel industry was

charge permitted to prices for steel, the cost of cars and many household appliances

going up.

Tam XD, 19.19 1920

Biar Terry 101

C. Light. (N) 6.20

LONDON TIN

MARKET

London, Sept. 11.

steady The tin market was this morning. Turnover was 45 tons of which 20 tons were for 025 cash. Pilcen clased at the end of the official morning session na follows:--

C. Light (0) 0.15 0.20 3120 48.13

2000

inspir

22.20 22.50

Spot tin, buyers

054

Coment

17.40

Поро

........ 10.ca STONES, ETC.

Dalry

1600 m 1714 1200 u 17.00

Spot tin, coliers

D56

Business done at Three-months un, buyers Three-months tin, weiler Businces done at Bettlement

053

04514 $4812

1933 1

Watson

10.10 10.40 27.40 Crawford 20.10.

2.20

DHI

-United Press.

NEW PROBLEMS This should not obscure the Because Congress permitted accomplishments which most of rent controls to be lifted after the countries had roade in n

and post-war if local authocovery from war September 30

COTTONS. ritics did not want to continue damage.

Ewo He mentioned some of the

NY Stock Market rents in many parts of the them, country will go up. Medhim new problems facing Asia-dis

Now, York, Sept. 11," priced rents for an unfurnished tortion of Japan's pre-war trade in a big city pattern, internal revolt and dis- one-bedroom flat in

Slöck exchange prices fm- refugee question, now average about 100 dollars order, the

proved slightly in disappoint- (£35..14 Sterling) month, population growth, shortage of

ingly low volume. Dow Jones The Average American's feel- rice and Increase in its world Business was done in the local averages at the end of ko

andhango market Inga about inflations are brought price by five to seven times the morning at the following rates

session stood as follows:- to a head when his city barber pre-war level,

UB doller (on:813 run dars 20 Industrials Conceding it was difficult to Bierting, note per £1) 180 20 rails. charges him approximately 9/- for, a haircut about one-third measure the effects of theos Indonesian guilders (per 100) 1400 15 utilites:

Biam icals (per 100) more than -two`years ago problems, be sald statistics in Singapore (Straits)

10.18 10 bonda Router.

divated that in much of Asia cur-|FIC" plastres. (per 100)

11.70

Exchange Rates

unoffelal

34.00

Rubber Singapore Trade Recession

Slump In

Causes

Singapore, Sept. 11,

A trade recession precipitated by the slump in rubber prices has brought failure to 15 firms in the first eight months of this year.

Two more companies are receiving orders to wind up, the Official Assignée and Public Trustee, W. G. Alcock, stated.

Financial losses are estimated discount, they are certain to get to run into millions of dollars, satisfaction. caused chicfy by price fails in Japan and Australia are re

calving the lowest grade of consumer goods.

A number of failures were rubber from textile-trading firms who blamed prices are flooding of the market by Japan- the paper

Presse. ese textiles for their collapse.

With the price of first-grade rubber well under $$1. a pound) the future of many Colony firms la thought to be uncertain

Associated Press.

JAP COMPLAINT

Singapore and unreasonably high, concluded.-France-

SINGAPORE MARKET

Singapore, Sept. 1. -

Prices of rubber futures closet Number 1 rubber, per lb. today as follows:-

October

November

December

751%-70% 203- 2012-94

Number 2 rubber, Oct:her PD) 4.703 Tokyo, Sept. 11.

Number 3 rubber, October. 6515-00 Japanese rubber importera Number 4 rubber, October are to

press Chinese Tubbor Spot rubber, unbaled exporters in Singapore to give Blanket crepe

No. 1 pair crepa discount on the purchase on

д

low quality Malayan rubber,

the journal Mainichi

icday.

reported

10:00

7012.76

104-100

alled Press.

NEW YORK MARKET

New York, Sept. 11.

Prices of rubber futures closed

50

"Japanese importers, at the today 5 higher to 20 lower with

time, decided to lodge a sales totalling

contracts. protest with the Singapore Futures tradings ruled quiet,

Arbitration Commerce

Cam-October mission against the allegedly November uhoddy quality of Malayan rub December

January (1953) ber imported into Japan.

February The decision was made by starch some 50 Japanese rubber Import- April ers based on a report from Kaoru May, Hashimoto, Director of the Kashoune

July Trading Company, who returned August free Singapore on September §. Beptember The Mainichi said that Mr October

November Hallmato, in talks with ometals;

December

of the Singapore: Rubber Asso Bp01 clation, learned that Chineto rubber exporters and not rubber growers were to birmo. for the

25,08

20.07.00 laul 20.431

20.20

23.06 nominad

253

23.20 bidd".

20.12 nominal

24.37

2490

24.00

24.90

24.00

24.00

34.00

27.00

-United PreKK.

export af low-quality rubber to JAPANESE BONDS

Japan.

Mr Hashimoto wa takd that. Germany had also auffered from Japanese bonds low-quality rubber, but that the "A" (4 of 1809) carlosgod. by Garmany. “B”” (AK. Of 1910), resulted in the shipment of "C" (46, of 1907) 08.88mproved quality,

""Gs, of 1034)

(346, of 1930)

272.11

00.11 98.65

United Press,

The Journal added that Mr Hashimoto was assured that if

Japanese Importers" press for a

Consols

London, Sept.:.11, .

8014

0814

∙182

044

153

60%

United Press.