1952-09-24 — Page 9

MESSAGERIES M

Arriving

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 24, 1952.

MARITIMES EMPIRE ECONOMIC TALKS ROYAL INTEROCEAN LINES

Leaving

M

Outward For

"SAINT MARCOUF" ....Oct. 20 Oct. 23 Jupan "PEI HO"

-Nov. 10

*"LA MARSEILLAISE" Sept. 29 **CKENOBLE" ..........Get.

Homeward For

Mutuelles via Salgon

Nov. 111

*Japan

"FALAISE"

.......... Ort.

222

Hept, 30

Uct.

Oct.

0

23

N. Africa & Europe

N. Atilea & Europe

•

For passenger and freight.

+

For freight to Salgon, Algiers, Oran, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam,

Accepting carpo:

Vla Marsellies to all Mediterranean & West Africa Ports.' -via Djibouti to Madagascar,"

Subjret To Change Wabout Notice.

CIE DES MESSAGERIES MARITIMES

PO Box 53, Hongkong.

Queen's Building (gr. floor)

EVERETTE

Tel. 26651 (3 lines).

LINES

EVERETT ORIENT LINE Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-Chinn, Slam, Malaya, Burma and East Coast Indian Ports,

"LENEVERETT"

in Port

Sails

Leading

Supt. 26 for

"NOREVERETT"

Arrives Salls

· Osaka, Kobe, Moji,

& Shimizu Yokohama, Nagoya.

Sept, 30 from Manila:

Penang.

Det. 3 for Singapore.

Rangoon & Calcutta.

(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 Porta.

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

Arrives

Sails

Oct. 5 from Japan. Oct. 6 for

Singapore,

Port

Swettenham, Madras, Culombo, Bombay, Karachi, ramshahr. & Basrah.

M.S. "NORDSTJERNAN"

Arrives Soils

Oct. 21 from Singapore. Oct. 22 for Kobe & Yokohama, (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

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

The Rubber

Markets

Singapore, Sept. 23.

Prices of rubber futures closed

today as follows:--

Number 1 rubber, per 1h.

October

November

704-77

Dreckber

Bumber 2 rubber, October

703-77 701-71

Number 4 rubber, October

Number 3 rubber, · October

Spot rubber, unbaled

...

Planket crepe

No. 1 pale crepe

63-03 732-702 62-131 10-104 United Press.

NEW YORK MARKET

New York, Sept. 23. Prices of rubber futures closed today slightly easier.

Ostrer

November

Dicember

January (1932). Trbruary

March

Anri

Mity

June

July

August

Seileraber

Cctober November December

Spot

CANADIAN

WHEAT

FOR INDIA

Ottawa, Sept. 23. Canada announced today that she would pllocate $5 million of the Colombo Plan funds in the current fiscal year 10 perm!! India to buy Canadian wheat.

India was allocated $19 million of Canada's Colombo Pian con- tribution last year for the pur- chase of Canadian wheat,

The External Affairs Deparl- ment announcement said the Government of India ha re- 26.75 nominalquested "a larger propo:llan of Colombo Plan aid in the form of 28.56 bid 20.10 nominal wheat but the Canadian author- the balance ties considered tha 25.02 25.45 bld

of the funds, available is India should be used for the provision of capital equipment directly related to the Indian economic development programme."

25.27 nominal 25.10 bid 24.05 nominal

24.00

24.03

24.80

24.00

21.03

24.50

27.75

United Press,

LONDON MARKET

•

n

The 1052-53 wheat contribu- tion to India, will be handled as it was last year, through "counterpart fund." The Govern ment of Indin will set up a fund in rupees from the sale of the Canadian wheat and will be used for internal Prices of rubber futures closed anancing of economic develop- |ment projects to be mutually agreed upon by the two govern- ments.

London, Sept. 23.

tiny as follows:-

Number 1 rubber, in pence

Der lby,

November

December

January/March

April/Jim July/September

2234-36 2212-13 224-34 2312-17

this

Officials here sald. they did not know how much wheat, the 212-22 $5 million would buy. It would United Press.

depend on what grade Government of India agreed to

the

Canada has contributed $25

JAPANESE BONDS take.

London, Sept. 23. Japanese

bonds "A" (48.. of 1800) 81 "E" (4 of 1010) 67

"C" (4%.

of 1007) 120% of 1934) D414

the

million in each of the last two fiscal year towards the $5,000 million six-year plan for

of south and rehabilitation

Asian countries, southeast

"E" (54. of 1930) 151 Canada's contribution has been

"

"D" (s.

Consols

80% split between India, Pakiston

land Ceylon--Router.

-United Press, «

Domestic Situation To Be Discussed

More Liberal Conference To Take Trade Policy

By Japan

Tokyo, Sept. 23. Japan In to life itu ban on exports to Commonwealth countries on October 1.

Imposed earlier this year because the alinistry of In- ternational Trade and In- dustry considered that Sterling funds had become too large, the ban is to go because Japan's Sterling balances have decreased. Ministry according to

statement here today.

The measure is part of a more liberal trade polley by Japan-Reuter,

Rubber. Importers' Complaints

Singapore, Sept. 23. The British-owned news. paper Straits Times, in an editorial today; urged that action be taken to put an end 10 complaints from Japan regarding the quality of rubber she was receiving from Malaya..

Up Issue

Of World Gold Price.

London, Sept. 23.

The Commonwealth Governments have agreed that their domestic economic situations should be discussed equally with the external situation at the forthcoming Prime Ministers' Conference in London, a usually reli- able source said today.

+

The source added that the extent to which the internal position of Commonwealth Governments should be taken into consideration at the Prime Ministers' talks had been discussed and agreed upon by senior Commonwealth officials.

These officials

over 50 finance and economic experts paratory work for the ministerial conference here yesterday.

an

source said today.

Authoritative Mr Lester Pearson, Canadian development External Affairs Minister, asked

The source added that this was about the Canadian attitude to

objective which the conference, said that Canada one major considered that the whole Australia was anxious to attain Anancial and economic situatio, in the conference.

sub- internal and external, must b discussed by the Prime Minis-mited specific proposals, but-the- iers.

The Canadian Authorities had criti-ised thic proposes con- ference agenda because it tender lo exclude domestic, economic and financial issues from the

Comunionwealth thiscussions,

Australia has not yet

Australian emphasis on capital for development would emerge later in the talks now being held by officials.

began the pro-

Cotton Talks Dragging

SLOW PROGRESS

of

for in-

It was probable that a special committee would be established then to examine production and the Mr Pearson understood the development projects in Sterling Area n3 part proposals utter was not now in dispute the long-term

The price of gold will be dir- cussed by the officials and also improving Commonwealth probably by

one of the com-

The Australian Prime Minis- mittees they are setting up 1eter, Mr Menzies, and other Aus-share handle particular questions.

tralian officials have emphasised 'Australia's desire for capital.

ed to study Sterling, convert. Committees are being appoint- bility, Commonwealth develop- ment UD: commodities, usually reliable source said.

ancos.

Buxton, Sept. 23.

Oct.

*TIGANUTA ***BANTSEL- ites.

"STRAAT

MAKASSAR"

"TEGELBERG“ STJAPANE” "TIBODAS"

“TJILUWAU"

“VAN BEUTAZ” "STRAAT

MALAKKA" "MARTBUYCKER" "TABMAN“ *TIANGI"

"RUYS"

"TJIPANAB" "THBADANE"

TIPONDOR"

*STRAAT

MALAKKA

"VAN BEUTAZ" "THLIWATI"

TAILINGS

7

Oct. +

Oct. D Oct... I Oct. 24

To

Singapore, Jakarta,

Surabaté & Sacanakr

Semarang,

Klanta, 14. Ports, Belawan

Singapore, a 8, Africa

Dali,

Singapore. Mantitius, 8. Aftica A

8. America

Japan *FapRa

Djakarta, Semarcal,

Macamer

Ringapore. Diskarta,

Hurobala & MDCANIAS

Singapore & jakari

Surabhia

Bemarang.

Singapore, Penang & Belawan Beit

Singapore, jakarta,

Oct. 20

Japon

Oct. 21 Oci. 23 Oct. 2 Nov,

Japan

Nov. J Nov. · Nov.

Nay,

Nov. 10

Nov.

11 Nov, 10

Butabala Macamar

Зарад

Japan

SEIDAJADE,

Singapore. Mauritius, B. Africa,

B. Amertea

Djakaria, Setharang Surzbala &

Macassar

Mahdia, Bingkodre, B. Africk, 28,

Ariertes

Singapore, Penang &. Belawan Dell

Sluggpore, fijakarta, Somaradz,

Surabala & Macassar

hanait

Dakarta Senate. Rurabala

Marmar

surabala, & Malacasian

TEGELDENO" "TUKAMPER"

"TJIWANGI".

"TEGELDENG"

TJIDODAS"

"TUWA" "BOISSEVAIN" "TUWANGI"

Nov. 21 Nov, 27

Der. 2

Singapore, Djakarta, Semarang.

Dec, ▸

Dic. 14

Ataulis, #gapore, Merius,

B.

Dec.

Dec. Jan.

16

Japan

2

Africa & 5. America Bjakarta, Hemarang, Surabała

Maccar

Singapore.. Sakarta, Hematant.

Surabala & Macassar

Singapore.

Djakarta,

Surabata & Mucatar

ARRIVALS

Semarang,

From

Yarabala,

Hemarang.

Djakarta & Bingapore

Djakarta, Remarang. Surabaja

Мисать

"THWANGI"

"THBANTJET" "TJILUWAH"

TEGELDERO"

Sept. 28

Oct. ↓ Oct, 5

Oct. 7

Масавая.

Japan

"STRAAT

MAKASBAN"

Oct.

3. America. 8. Afrien, Mauritius, Kingapore. Djakarta Manila

Japan

TEL. 28015/18. British bids for a major | KING'S BUILDING, Ground Floor.

CHINESE AGENTS; 81 CONNAUGHT RD, C. TELS. 31196, 25133

In the world cotton textile markets are believed to be holding up progress in the international cotion textile conference meeting here.

CAPITAL NEEDED The Immigration Minister, Mr Harold Holt, is pursuing in The paper, however, pointed

Ottawa and Washington an idea cut that these complaints would

discussed with European Britain is unofficially reported WORKING GROUPS not have arisen if Japanese pur-

countries in

to have put figures to the con- Other Committees will be governments that chases had been made through

terested in fostering migration ference's statistic committee for set up later to consider Te reputable firms in Singapore,

from over-populated European her future exports which do not lationships with the General

countries should help Australia at into the patterns of other ол Tariffs the Agreement "ir

andrasp The

said: paper

Ideas-claim- Trude, the European Payments increase her capacity to absorb exporting nations' Japanese persist in buying from

World Bank, Union, the

ing too large a slice of a smaller the grants. unreliable packers ot o dis-

Monetary Fund,

world export cake. count below the ruling merket laternational

pattem of Imperial price, they must take the risk and the of receiving rubber that is below preferences. It will take some days before, thele functions and would be the quality they entitled to expect if they had scope emerge. paid the proper market price.“

WPS

would buy more rubber from Indonesia it there were con tinued complaints regarding the qually of Malayan rubber.

The officials, representing ning countries, me! in working groups today.

A Treasury spokesman said plenary Session, yesterday's presided over by Sir Frank Lee, Permanent Secretary to the Board of Trade, was entirely

informal.

His proposal is that inter national action should be taken to provide capital fo: develop ment of essential services if Australia is to be able to restore the earller

flow heavy

of

of

preparing estimates

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

for each of the

M.S. "NICOLINE MAERSK”

MS. "ANNA MAERSK"

com-

M.S. "LEXA MAERSK"

M.S. "LEXA 'MAERSK"

M.S. "LAURA MAERSK"

M.S., "LEISE MAERSK"

The statistic committee, re- presenting all; the five delega- ilons Britain, India, Japan, the United

States and Western Euro habice future world exports migrants.

One cfficial said today that the of cotton textiles and the share The Straits Times said there

conference was still in the early of that trade a possibility that apen

little delegations. stage and preliminary concrete. in the way of decisions Meanwhile the other was expected to emerge. The delegates were collating data.mittee-studying possibilities of cats were cold arguments expanding orld consumption for and against proposals qui cotton textiles has run into of

gov-conflicting views.

American would not profter denile

The

delegation ernmental decisions.

wants countries to try to lit- This would be left for the

domestic sales of lex- forthcoming conference of Prime crease

tiles as Ministers.

the best way of ab

rolus mill sorbing surplus capacity.

The Japanese on the biber hand have said they cannot increase domestic consumption much because they must export cotton textiles to pay for im- ported raw cotton and other raw materials. und foodsthe. country needs.

The paper

continued: "The aggravating feature of the situa- tion is that legislative authority has been in existence for two and a half years to deal with just this stato of affairs.

"The whole question of pack-] ing and shipping rubber from the Colony was examined by u Select Committee of the Legisla tive Council before the Rubber Packing-and-- Shipping Control Ordinance was passed in March, 1950.

Today's agreement to permit Biscussion of domestic financial policies reflected the desire of all the delegations that the talks should be pcrfectly free-i

Sir Frank, who is also leader of the British delegation, will over most of the also preside

parties. working

No steering committee will be su! up

there

will and be very few plenary sessions.

The British delegation has given to the other eight visit ing Commonwealth delegations a mass of statistics and polley Heuter. documents. These deal with several-uspects-of-the-financial, economie, trading, commercial and fiscal problems of the "For reasons

which are not Sterling Area, of which Britain

the measures the banker.--- readily apparent,

It has not been implemented.

EMPIRE'S DEFICIT ruled is time that necessary were made under the Ordinance to safeguard the industry from a grave loss of reputation, if not something more material, through the methods of a section of packers."-Reuser.

Japanese Currency Allocation

The statistics and documents were prepared by the Treasury and other Ministries under the Ministers. direction of their British Ministers will now

The keep i

in the background.

will findings of the officials be referred back to them at the conclusion of the conference. There may be periodic interim references to British Ministers by the British delegates as the work proceeds.

and

One of the principal reasons for the Sterling Area's deficit thought to lle in the vast in- crease of capital outlay imports of capital goods in com- parison with pro-war years." Tokyo, Sept. 23.

The other

reason is the Japan's October-March foreign relative fall in the value of gold, currency budget, which has been drawn up by the Finance Minis- But financial observers here feel that the price of gold is not a of that the import try, $1,410,000,000 worth of goods matter en which practical con- of ser clusions can be reached by any conference at which the United and $48,000,000 worth vices.

States is not present. The draft originally made up

former E. Holloway, Dr J.

South for

African by the International Trade and Industry Ministry asked for a Secretary

ot $1,370,000,000 but the Finance and a world expert on Total

13 a Finance Ministry added $50,000, the gold price question, 000 for larger imports from the South African delegate to the

officials talks. Sterling Arca.

covers

GOLD PRICE

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business done

on the Stock Exchange this morning totalled $217,155. Noon quotations and the morning's transactions:- SHARES BUYER SELLERS RALEB DANKS

UK Dank... 1410 East Asia INSURANCES

*148

750

89

Union DOCKS, ETC.

K. Wharf... N..P Wharf 0.00 0.55

Provident

(I)

**** doc. 1.15 Whetlock 123 LAND, ETC.

HK Hotel...

Shal Dock

HK

and

(0) XD JK Land (N) XD S'hai Land UTILITIES

Tram

Star Ferry

Da 735

0.43 8.30 1500 m

4500 0.43

493/

4831

1124

19.20 10.40

100

U.S. STATEMENT...

The Chairman of the Ameri- сап delegation, Mr. Robert Stevens, Chairman of J. P. Stevens and Company, New York, today lasted a statement stating there had been a free- interchange of views about the current plight of world textile exports and efforts which

might be fruitful in enlarging that trade.

"Whatever the outcome of the conference, we of the American delegation feel well repaid for our long trip by the mast cor dial manner in which we have been

all the received by delegates and their attitude to the conference's common prob- lems," Mr Stevens said.

expect the conference to continue until

problems are

common

these thoroughly dis

discussion the

cussed and a statement sum-

using

up," he added.

Is

reli-

According to a ference's

source.

the

able steering committee work by the other

hopes that

two com

mittees will be suficiently ad- vanced for them to discuss it tomorrow. This being so, the 4100 100 steering committee hopes to call

50 19.20 nmox

C. Light (0) 0.15 0.20 100 @ 220 à full and Anal session of the 1500 0.16 conference

C. Light (N) 0.20 630 1000 0.25

Reuter.

, הס

Thursday

17.10 17.30 1000 17.10 New York Sugar

to

Electric, XD 21.10 22.30 Macan Elec. 10,00 Telephone. 1735 17.80 INDUSTRIALS

Cement Поре STONES, ETC.

Dairy Watson COTTONS

-T.. Crawford

Ewo MISCELLANEOUS

Yangitzo

10.10.19.20 200 m 19.10 700 21.00

2.33

Under

the proposed budget,

Mr Nicholas Havenga, Southi $855,000,000 worth of goods and

Africa's Finance Minister, is $42,800,000 worth of services

from the understood to have summoned will be purchased

to spécially Holloway dollar area. $488,000,000 worth of Dr goods and $3,000,000 worth of attend the London discussions.

Dr Holloway will be largely services from the Sterling Area, and $290,000,000 worth of goods responsible for drawing up a and $13,900,000 worth of services memorandum favouring a higher

price for gold, from the Open Account aren;

This memorandum-is expected

be submitted to the Com

Prime Ministers' Conference

The fixed official price of gold today is US$35 an ounce.

Business was done in the local been unchanged offcial has

This This

exchange tmarket sinca 1034 despite rising costa morning at the following raten:

... 03378 and U.S. doller (per 1 of all other commodities

Berting note (per £1) particularly mining production. Indonesian guilders (per 100) 20.00

The Commonwealth Relationk | Siam ticals (per 100)

Born Stralia) Omice will hold a reception to morrow. for the officials-ReuFIC plastres (per 100)

Final approval of the draft is expected to be given on Septem-to ber 25 at a Cabinet meeting-monwealth France-PressC,

LONDON TIN MARKET

.

London, Sept. 23. The tin market was steady at the lower levels. Turnover was 75 tons, Including Aye, tons forter.

of the omelal moining esslan as follows Spot in, Büylers

25 tales closed at the end

pot tin, sclibre business, done at Three-months tm, buyers - Three-thanthe, tin, selleri Business done at

Bettlement

..

Futures

New York, Sept. 23. World sogar futures

closed 1000480 unchanged to 2 lower with sileh

totalling 218 contracts.

Contract No. 0 closed 1 highe to 2 lower with sales totalling 20 contracts.

Exchange Rates

Conflict No. 4 (world)

To Learn From Japs Spat

18.04

October January March

14.50

MAY...

10.18

July

11.00

September

October January

Contract No.

WOTYK

November: March May July Repleinber Spot

AUSTRALIAN PLAN

London, Sept. 29.

New Delhi, Sept. 28. Australia's delegation to the

The Indian Government pro Comitibwalls Prime Militers Conference, which will be held pbees to mind á group of bericul-

Tallk November für experla in London in Decerator, wil strèed Australia's specialista) to Japan to audy D-946 desire to raise more capital advanced methods of silk worm overseas to finance esential raising-United Press,

DE81

4.02

$94 nominál

3.00 bid

3.63 bld

3.23 bld

3.00-3.87

3.01

3.08 tiomitial 4.00

abi

5.44 big

140 bid

aida nominat

5.50 nominal. 6.03

United Press.

ARRIVALS FROM U.S.A.

Oct.

2 Oct. 16 Nov, 2

Oct. 5 Oct. 18

Νον.

1

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos, 3606Ġ-9,"

Dates and rotation subjeck ̄to"change" without “notice,

ports to load/discharge cargo.

At liberty to proceed via other

PENINSULAR

QUIS HOS SEPARABI

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CANTON"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 26th September at 12,00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

ALL passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown, at NO. 2 GATE, CAN- TON ROAD ENTRANCE By noon on THURSDAY the 25th September, 1952.

SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only. EMBARKATION: Will take place FRIDAY, the 28th September, 1952 between 9.30 a.m. and 11.00 am.

To ADVERTISERS

BUNDAY POST-HERALD Space

for

commercial

advertising should bo

booked not later than

noon on Wednesdays.

+

BUSINESS REGULATION ORDINANCE

1952

J...

Copies of the prescribed·

For the BOUTH CHINA Forms 1(a) 1(b) and (c);

MORNING POST and the

CHINA MAIL, 48 hours before, date of publication.

Specia)

Announogmenta and Cikained Advertise.

menta ke vsual,

Now On Sale at

S. C. M. Post, Ltd.

Hongkong and Kowloon,

TEN CENTS EACH