1952-09-17 — Page 9

MESSAGERIES

M

MARITIMES

THE CHINA MAIL WEDNESDAY, SEPTEMBER 17, 1952.

TEXTILES CONFERENCE MWorld Cotton Experts Meeting In London

Arhiving

Leaving

Outward For

LA MARSEILLAISE" ..Sept, 18 Hept. 15 "FALAISE"

.....Sept. ZJ

Sept. 24

Yokohama & Kube ZADD

:

ilomeward For

3

*"LA MARSEILLABE" ..Sept. 29 Sept. 30

Oct. ...Oct.

Oct. 26 Oct.

GRENOBLE"

+"FALAISE"

For passenger and freight,

Marrabies via Balcon

N. Africa & Europe

21

·N. Africa & Europo

A

† For freight to Saigon, Alexandria, Genoa, Aiglers, Oran, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam. Accepting cargo:

via Marseilles to all Mediterranean & West Africe Ports. -via Djibouti to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

Tel. 26651 (3 lines).

BEN LINE

TO ANO

FAST

ARRIVALS

FROM

Empire Finance Talks

Preliminary Steps

In London

London, Sept. 16. Commonwealth officials: will make a general review of

..

Facing The In Britain

Vital Problems

Industry

(From RONALD BOXALL)

London, Sept. 16.

Despite newspaper reports that the international conference on cotton textiles will resolve itself into an attempt to share out world trade. by a division of markets among the chief countries, the Cotton Board, which called the conference, denies that any restrictive plan will be put forward by the British delegation.

The Japanese delegation, however, appears to be unimpressed by

the Sterling Area's this denial, finances when they,

meet

To anybody who has tried to contact them since their arrival in this coun- here on Monday to prepare try the Japanese textile industrialists give the impression of men who have been for next month's Common-invited into the lion's den and are not quite sure of the lion's intentions, wealth Prime Ministers' The intention, however, is Conference in London.

Their purpose is lo. outline

That is the view of the man who will lead the British delegá-

ton to the conference.

But it would be a mistake to assume that all members of the British cotton industry share Sir Raymond's tolerant altitude,

UNFAIR PRACTICES Lancashire folic are fainous for Bul their love of an argument.

they are all

clear enough. It is, in the words of Sir Raymond Strest, -Delegates from Britain, India, Chairman of the Cotton Board, P'ckis'en. Ceylon, Australia, lud out how best to foster Canada, New Zealand, Southern growth and stable prosperity in Rhodesia and South Africa' will the cotton trade and to escape attend the private preparatory a repetition of the experience talks which are expected to of the inter-war years without last for abait three weeks.

to eradi- expecting or wishing cate healthy rivalry"

Sir Raymond has been cri-o one abject an enda for the Promiers' teised for inviting the Japanese 4greed-they do not wish to se10 repeiltion of the pre-war conférence opening on Novem- to the

variety of cut-throat competition, bellence.

he has replied, that put so many of their work- have a contrl-mates on the dole during the "the Problems the examined by button to make to such a con-inter-war years.

Japanese will probably inference

and that we should To them Japan is synonymous see what that contribution is. with unfair competition and, they will would be to fail rightly or wrongly,

well

hold that vlaw until they see evidence to the contrary.

DUE

ber 21.

"BENMHOR"

"DENCLEUCH"

Japan U.K.

18th Sept.

21st Sept.

"BENLEDI"

U.K. via Sinzapare on or abt.

2nd Oct.

the officials elude:

"BENALDER“

"

2nd Oct.

28th Oct,

"BENCLEUCH"

+"BENMHIOR"

"BENCLEUCH"

Japan Japan

SAILINGS

Direct to Bingapore, thence Geno B London, Kotterdam and Hull.

"DENÁLDER"

*"BENLEDI"

"BENCLEUCII”

*. Calls Manila.

Loading on or abi

19th Sept:

Kure, Kobe and Yokohama,

2414 Sept.

Direct to Singapore, thenco Havre,

Hamburg

Liverpool

Glasgow, and Hull,

Avonmouth, London Rotterdam

Antwerp. And

Direct to Singapore,

thence Dublin.

Liverpool, Gilastow

and Rotterdam.

-

3rd Oct.

6th Oct,

29th Oct.

+ Refrigerated Epace Available.

All Vessels accopi Cargo for Aden, Sues and Port Bald.

W. R. LOXLEY & CO., (CHINA) LTD.

York Building,

Agents

Meeting Of

Finance

Telephone: 84165.

World

Experts

New York, Sept. 16.

The International Institute.of Public Finance, will meet in Lisbon from September 25 to 27. under Dr Carl S. Shoup, Professor of Economics at Columbia University. The Institute is an organisation of about 300 scholars and financial administrators from some 30 untions in Western Europe and the Americas.

The Rubber

Markets

Singapore, Scpt. 16. Prices of rubber futures closed today as follows:--

Number 1 rubber, per ib.

October

November

December

Number 2 rubber. October

Number 3 rubber,

41

Number 4 rubber,

Blanket crepe

Spot rubber, unbaled 2

No, i pale repe

has

1. A general review of the Not to do so

wisilim Sterling Aren, of which Britain

is the banker. since the Com-courtesy." monwealth Finance Ministers'

conference here in January.

2. The Sterling Area's gold

and dollar reserves.

3.

The balance of payments position, in the Sterling Area as

a whole and also in countries individually..

member

Contrary to Press reports here the agenda of the Prime Ministers' Conference has been finally settled,

TREASURY DENIAL

Subjects

not

as

In

HONGKONG

SHARE MARKET :

It has been said that the con- ference will meet 1 more optimistle climate than seemed possible a few months ago. The worst of the recession which li Lancashire so hard is over.

But another vital problem has arisen for the British industry.

Last week it was announced" that for the first

time

since the beginning of the war Japan ex- ported in the six months' period up to June more cotton textiles to, Commonwealth markets than (From Our Correspondent) the British cotton industry.

And this fact received wide to be discussed at Business on the Stock Ex-

publicity. the oficials asici Ministerial change this morning amounted to meetings have been under con- $132,531.50. Noon quotations and sileration by the various Com- the morning's transactions; — monwealth nations. Several, in- siARES BUYERS SELLERS SALES

have ado BANKS cluding Canada,

HK 'Bank st:ggestions.

bus The Treasury

Hentest Asia...

INSURANCES Press reports that the British tu send a Government plans

Minister or Ministers to British Washington after the Novem- ber conference to discuss long- term problems of the Sterling

Area and the part the United

States them.

ems

might play in solving

The conference's main prob- temy lic purely inside the Commonwealth and American co-operation is in no way in- volved.

* this aspect of the con- ference's work has been com- pleted the Misters may them- selves feel that close consultation with the United States would be helpful. But it cannot now presumed that they will make such a decision.

... 1400

Cantan......

alon Underwriters SHIPPING

HK Fire***,

148

200 203

750 75716

135

Aña Nay XD 1.45 DOCKS, ETC.

K. Wharf

N. P. What Dock

90 .05

20.40

1.80

DIRECT THREAT

To many people in Lancashire

this is a direct threat to the

With sa

industry's well-being. many of its pre-war markets now vastly reduced, Lancashire has become very Empire-minded. 'It has continuously stressed the importance of keeping the Commonwealth 1600 1.47 itself.

"

markets

Tokyo-Taipei

Trade Talks

Talpel, Sept. 16.

The English - language. China News today report.

ed that unofficial Degolla- tions for a US$150,000,000 trade pact between Japan

the Nationalists nearing completion Tokyo.

and

Ar

The only question to be solved I'm transportation

and

shipping problems, with the Chinese insisting on the privilege that Chinese freighters CATTY the carrots,

while the Japanese want free choloe of flag.

The paper added that if the negotiations are fually concluded, trade between the two countries will have been doubled, — Trabeș-

Pressc,

JAPANESE

APPEAL

ON G.A.T.T.

Support Wanted

Tokyo, Sept. 16.

the entry into

The powerful Japan Manage- toment Association, in letters to the United Kingdom, Australian To this end it has urged the and Now Zealand diplomatic Government to keep Japan out representatives here, has S'hai Dock..

of the General Agreement on appended to these governments Wheelock 433 43% 700 @ 431% Trado and Tariffs, or, failing to support Japan's application LAND, ETC.

that, to get out

itself.

for HK Eotel... 01 6.00 IK Land

They therefore regard the Agreement on expansion of Japanese exports Tarifs, Fhumphreys 12.40 12.80 500 @ 12.60 to the Commonwealth

as a danger signal.

It is not anough for some members of the British Industry Commonwealth many

The Association warned that markets have closed their doors

it Japan was left out of G.A.T.T against Japanese cotion goods. she would not be obliged to

(0) XD- Shai Land

VTILITIES

Tram XD Peak Tram

Peak Tram

(New

Star Ferry

49 1.25

50

..10.20 19.40 1800 19.30

30

16

101 104

520

Light (0) 9.16 0.20 1000

1500 9.15 500 G 22.49

17.00

that

C. Light (N) 6.20 6.30 Electile XD M2.30 22.30 Macao Electric 101⁄2 'Telephong INDUSTRIALS

Cement ....17.40 1744 ef Hope

10.70 20.10 ETC. STORES,

19.10 10.30 1000 19.20

27 27.40 500 6 27.20morrow's conference,

All the Commonwealth Prime Minklers, except Mr Nehru. of India

and Dr Daniel Malan South Africa. will attend the November talks.

The Indian and the South African Premiers will be repre- sented as will some of the Colonies.

52

Dairy Watson 1. Crawford COTTONS

EWO ........ 233

00 + 2.30

MARKET

was

as

$50 DGOIS

markets

General Trade and

The Association said that any fears that Japan would engage in unfair trade practices were completely groundless.

standards

They want them to stay closed.

the various accept This, then, is the atitudo of

of GATTA practices large section of British colton nations.

on and men on both sides of the In-

The Association, which dustry. It is the key to the position the British delegation presents Japan's major em- that the will have

ployers, requested to adopt al to-

diplomatic representatives ask their governments to support Japan's entry.-Router.

ANOTHER SIDE

But there is another side to the question.

Britain may want to keep the Commonwealth-and particu

PACTS EXTENDED

Tokyo, Sept. 10: The Foreign Office announced larly the Colonial-markets to today that Japan and the Philip- itself. But do the importing pines

New

ta

LX-

The Queen will give a dinner LONDON TIN The topic to be discursed will

party at Buckingham Palace on be "Financing Re-Armament." from 12

December 3 for the visiting Report on this topic

Commonwealth Ministers and countries will be distributed in

have extended until their wives. advance and discussed at the con-

countries want it too?

January 31, 1853, trade and Staffs of the conference

London, Sept. 10.

British Dominions and financial agreements duc ference.

The report on United States delegations will attend a party The tin market was fem this many of the Colonies are free expire at the end of this month.

the Palace

The the following morning. Turnover rearmament nancing has been

two Governments 100 to act as they please in trade written by Dr Roy Blough, until

tans including 55 tons for cash. matters. Beliain can influence changed notes in Tokyo today. recently a member of President

The Pakistan High Commis-Prices closed at the end of the but not dietate to them.

Reuter. stoner announced here today felal Truman's Council of Economle

morning session

Even if 11

wanted to do so that the Dominion

would send follows:-

the British colton industry Advisers, and now Director of Economic Affairs for the United six delegates to

the officials Spot tin. buyers

could not propose a division of Nations.

cellberations,

Spot in, sellers

markets. And there is no cyl- Professor Shoup, who

They are officials of the Business done at

dence to show that it is thinking 7019-74 been teaching at Columbla since Finance and Economic Affairs Three-months in, buyers

along these lines. 7019-24

inance Ministries 701-3

1920 and is a public

and the State Bankee-months in, sellers.

Business done at 701-71

Settlement specialist, was elected president of Pakistan-Reuter. 001-34 6215-634 of the Institute in 1950 for 75-76% three-year term. He succeeded

Max

former Leo Gerard Finance

of Belgium. Minister o government stonding either in the ör abroad, this country Institute of Pubile Finance has consultative status with the United Nations Economie : and Social Council,

.61-02

103-100

-United Press.

NEW YORK MARKET

New York, Sept. 16. Prices of rubaer futures closed today 65 to 80 points higher with

24 sales, totalling

contracts, Outside market Armness attracted some dealer interest but the market was generally dull. Prices closed today as follows:- 21.00 28.00 nominal 24.0 20.45 nominal 26.12 noininal

October November December January (1689) February

March

April

May

Juma

July

August

September

October November December

Spet

Although without ancial

3

porte

23.75 asked 25.00 nominal ship 25.30 nominat} fu

23.45-

25.30 23.30

5.20

23.30

24.30

H

23.16

-United PreSS.

LONDON MARKET

•

London, Sept. 16.

Prices of rubber, futures closed today as follows:- Number 1 rubber, in penos

per ib.

Oktober November Thecember

October/December

April/June

January March

Recovery. In Wall St.

Now York, Sept. 16. Failroads and high-price olla

952-030 960 -United Press.

New York Sugar Futures

་

New York, Sept. 16. World dugar futures closed 2 higher with unchanged to sales totalling 10 contracts.

Contract No. 8 closed un-

September

4.00 nominal

3.89. Bld

DIÁ

Professor Shoup has attended several meetings of the Economic

led a general recovery move-changed to 4 higher with sales and Social Council and the

the Stock Exchange, totalling 301 contracts. Fiscal Commission of the U.N.ment on

in trading increasing

Contract No. 4 world of the with representative of

volume. —

October

1.35 Institute.

January Carriers and oil stocks gains March

3.45 The organisation, which sup

5.67 its activities by member- runged to over a point with a May

of number pivotals showing July suspended yourly dues,

wider improvements. theatings during World War II.

The market opened firm and January for October Since then It has met in The Hogue, Rome, Monaco, Basto and continued this trend at the close Spot London. The London conference with the improvement attributed last

"Financing your discussed

by tradera to technical reasons November

March mastly, Under-Developed Countries."

1,140,000 July The papers and discussions at

Dealings totalled conference hava shares. Of 1,095 issues traded, September

473 adunced, 953 dedined and 270 were unchanged.,

each

subsequently been-published Associated Press,

JAPANESE BONDS

224-14Japanese bands

London, Sept. 13.

"A" (4 of 1539) "B" (da, of 1910) Hot 100) "D" (6% of 1934) "K" 10 of 1030} 222214 | Consoli -United · Press.

Di

Chemicals were higher rang- ing over 2 points,

Dow Jonesavorages, at the end of the session slowd-ez fol- lows

30 industrlots 20 rails

15 utilities

40 bonds

Утом.

My

Spal

What it does want is an ex- tention of the system of Im- perial Preference.

But at pre- sent that way out is barred to It by the obligations Britain has adopted as a member of the General Agreement on Trade and Tariffs.

Lease

Of Life

+

New York, Sept.-16. India's burlap industry gaining strength rapidly after sinking. to a low point for business and prices carlier LIES ELSEWHERE

this

summer.

an article in the Solution to the cotton indus. Journal of Commerce sald try's problem lies elsewhere, today, There are limitations to what It added that supply and they can do by themselves,

demand wore in fairly good They

could, for instance, balance and that prices showed restrict producton to what they a steadier tone. think, the world markets can

Demand has grown, it' stated, absorb. But that would not be in line with the purpose of the rise in United States stocks and Illustrated by the sharp conference, which is to expand consumption to high points for

world trade in cotton textiled.

คร

the last two years.

The conference will not have falled, however, if it aucceeds in 3.03 pointhelpiercing the barrier of mutual the

distrust that now separates the

chief Iwo Creales a friendly atmosphere for furilice discussions,

3.08

4.00

Contract No. 0

4.97

8.31 bid 8.85 nominal 5.00

0,71 nominal 0.00

United Press.

participants

and Indige

The article said that even if

long

Indo- rumoured deal materialised, milis should be able to All the world demand, In ad- dition to which the productiva

continental of

and

In any case, action along any capacity

of the lines discussed above still negligible,

Pakistan producers, although

would require a

more repre~] sentativa gathering of the in- rapidly. Rehler. tareris concerned.

The importance of the confer Exchange Rates ence may not, therefore, energe

was growing

.

Flax Seed Prico-

until long after it. hag ended.

New York, Sept, 18. Burines was done in the local By then the various governments

Prices in the seeds and oils market this will have studied the recom Unofficial exchange 269,02 meruig at the following ratesimor. mendations of their respective market closed unchanged with

1965 ngilonat delegations and decided the following exception.- 240 what action they can take to put Flax seed, per bushel, F.O.. 34.40 thun into effect. --London Express | Minneapolls

21.8, dillar-1567 $3) | 20.00 Stechnk note (per £il 40.82 Indonesian auilders (per 100) 00.50 Siam ticals per 100)

Singapore (Stra!)

United Press, TIC phitirea (per 100)

0A%

19.15

11:23 Service.

Press,

$4.11. — United

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Djakarta ningapore

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Dates and rotation subject to change without notice, At liberty to proceed Via other parts to load/élscharge cargo.

M.V. "LA MARSEILLAISE"

will sail for

Yokohama and Kobe

on

FRIDAY, SEPTEMBER 19, 1952 AT 7 P.M.

Passengers are requested to board the vessel with their cabin baggage on the 19th Sept, between 3 and 6 p.m. Baggage Room and Hold Raggage will - be registered at Kowloon Godown No. 50 (No. 2 Gate Canton Road Entrance) on the 18th Sept. between 2 and 5 p.m. and on the 19th Sept. from 9 a.m. to noon only. No baggage will be registered after this time.

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