1952-10-07 — Page 9

THE

Colombo Plan

CHINA MAIL, TUESDAY, OCTOBER 7, 1952. '

MESSAGERIES MARITIMES Japanese And Another Government ROYAL INTEROCEAN LINES

MOM

Outward For

Arriving

Leaving

"SAINT MARCOUF” ....Oct 10 Oct, iz "PEI HO"

• «Nov. 14

Nov. 10

Зарад Гаран

11

thel,

1"FALAIBE"

**FELIX ROUSSEL" .... Nor.

...Oct. 25 Del. 20

4 Nov.

N. Africa & Europe N. Atries Europó Marselljes via saigon

*"ĠRENOBLE"

For passenger and freight.

Homeward Far

1 For freight to Saigon, Algiers, Oran, Tangler, Casablanca,

Havre, Dunkirk, Antwerp & Rotterdam,

·

Acceptingeprgo:

via Marseilles to all Mediterranean & West Africa Porte. -via Djibouti to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor) .'

EVERETTE

Tel. 26051 (8 lines).

LINES

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

"BRADEVERETT“

Arrives Sails

Oct. 7 from Singapore, Oct. 8

"LENEVERETT"

Arrives

Sada -

for Kobe, Osaka, Nagoya & Yokohama.

Oct. 23 from Manila.

Oct. 24 for

Colombo, Oct. 6, The Colombe Plan .Consultative Commilico will discusa at its next conference the question of Japan Joining the Plan, Mr 3. n. Jayawardene. Finance Bfinister of Ceylon, Bald today.

The

Liberal Party's victory and the total defcas of the Communists in the Japanese geheral election now enspija On October Japan lo sa eperate "reply add fully with her neigh bour nations,

addća. The Internalof Con- WAS the $41 up to 'idagare Colombo Man in 1951 for the economic developpent of southeast Asla,--Houter.

110

tiative Committee

Indo-China Rice Price A Record

Hanol, Oct. G. Rice has hit an all-time re

card price of just over 44 plastres a pound in the French- held sections of Northern Indo-

Chine.

to

Singapore,

Penang,

&

. Calcutta.

Rangoon (Accepting cargo for transahipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo. China, Slam, Malaya, Ceylon, West Coast

Indian and Persian Gulf Ports. -

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

Arrives Softs

Oct. 8 from Japan. Oct.

for Singapore, Port Swettenham, Madras, Colombo, Bombay, Karachi, Kharramshahr, Basrah

Bahrein,

M.S. "NORDSTJERNAN”

Arrives Sails

Oct. 24 from Singapore. Oct. 25 for Kobe & Yokohama, (Accepting cargo for tranihipment Kobe/Pussa and Kobe/Okinawa)

&

EVERETT STEAMSHIP CORPORATION S/A Queon's Building, Tolophono_31206. Chinese Department: Telophone 28293.

The Rubber NEW YORK

Markets

Singapore, Oct. 8.

Prices of rubber futures closed

today as follows-

Number 1 rubber, per lb.

Number 2 rubber, November 68-0811

FOREIGN EXCHANGES

Now York, Oct. 4. US$1.84-1/2

Canadia Englandficial

uneficial

30-day futures Do-day futures

2.78-3/10

1.02 bid- 3.55 asked 2.78

November

7414-25

December

January

7334-74 7332-74

Number 3 rubber.

04-04%

Number 4 rubber,

01-0112

Spot rubber, unbaled

73-7412

7.78-13/10

Blanket crepe

011-012

Australia

2.2314

No. 1 pale crepe

06-101

New Zealand

2.7744

--United PICS.

South Africa

2001%

Belgium

NEW YORK MARKET

Denimark

.0200 -1455

France

West Germany Holland

.00201

2385

2030

105

24.76 nominal

New York, Oct. 0. Prices of rubber futures closed today unchanged to 45 points Italy lower with sales totalling 17 Norway contracts.

Trading wan

and featureless.

as follows:

October

November December January (1963) Tebruary March

Apell

May

June

July

August September

October

November December Spot

24.50 nominal 20.55 nominal 20.30

Empt 25.54 nominal Iran Jroq Turkey

Argentina Zatozil

25,57 nominal 24,00 bid

24.00 bid

24.57 nominat

24.85 nominat Hellvia 24.50 nominal Colle 34.45 nominat | Colombia 24.15 nominal Cuba 2443 nominal Mexico. 24.45 nominal | Peru 27.50 United Press.

LONDON - MANKET,

London, Oct. 6.

The rubber market was dull. Prices closed as follows:-

Uruguay Venezuela

Number'i hubbar,

In pence per it.

November

December

January/March April/June July/September

Loan Offer Rumoured

On London Exchange

(By Norman Crump).

London, Sept. 28.

The sharp reaction in the gilt-edged market, which occurred early last week, has naturally caused some anxiety, even although part of the losses have since been recovered.

Japanese Negotiate With Italy

An

Tokyo, Oct. 0.

"TABMAN" "STRAAT

MAKASSAR”

STJJANANE"

ماع .

PLAKATER Imarang, Surabala

Jupa

Djakarta,

Bemarang.

· PEE

FOLL

Japon

Oct.

Manila, P.I. Forte, Djakaria, Singapore, braurlius, 8. Africa a

"TEGELBERGH "TJIDODAS

Oct. Oct.

Act

Oct. 20 Oct1

Oct. 25 Nov. 1 Nay, 1

Nov. 9 Nov. 1

Nov.

P

"VAN KEUT:Z" "STRAAT

MALAKKA TASMAN

"MAETSUYCKER"

"x8" "IWANGI"

"TIPAÑARE "TJBADANE"

"STRAAT

MALAKKA

It should be pointed out, however, that there was very little selling last week, and the declines Italian trade mimion, were immediately due to an absence of buying, headed by the Minister Plenipo PONDQK”

tentiary, V. Bonprell, is to coupled with the desire of some dealers to arrive at Tokyo's International

Airport tomorrow evening to STIILUWAIT even-out their books.

This point is of Importance, when it is remembered conclude a trade agreement with

Japan,

Kyodo News Agency sald TEGELDERG"

"VAN HEHTBZ”. how earlier in the year many industrial firms were selling tonight.

Tho

mission is expected to "JALENGKĄ" gilt-edged stock in order to provide themselves with

here about a month. to JIVANGI" additional cash. This selling has now ended.

hegotiate the agreement and the

more

ALDY

The reason is that the from the last war.

exports

Annullons at $350 ports, with

"STRAAT MAKARSAN" TEGELBERO"

..One very pertinent question But there is another, and a opening of an airling connecting "TIKAMPRET today is that of future Govern-moré hopatul side. To begin Rome and Tokyo.

"TEGELBERA" Members of Next March with, a five per cent Bank Rate

the mission, ment borrowing. witnesses the maturity of £522 could do no

than the Kyodo sald, also will consult "TILLUWAH” million of National War Bonds. existing four per cent rate has with Japanese officials on the Here I have little doubt that a doné,

of trade accounts still "Tamogas”

"P0196EVAIN" conversion offer will be made, spending of the average citizen but it remains to be seen whether has already been

The Japanese Government TJIWANGI" successfully

o will su to suggest to Italy a plan that the new stock will be of a type curtailed, and what remains which will be suitable for the be done.la the curtailment of will pet trade between the two present holders of the existing spending by public bodies. bonds.

If not, there may be increase in Bank Rate cannot do and $44,000,000 this. In fact all it does

to the accounts to be settled in some slight market disturbance.

gold- Under the More imminent is the maturity the Budget. In other words, to next November of the first of the Increase Bank Rate today would Japan will import 180,000 tone

of rice from Italy annually. Serial Funding Bonds issued to be to use the wrong weapon.

Japan will export rolled steel, the banks in November, 1951, us

im-copper, slik and other products Finally, although the a means of reducing their hold-

for the gut and will import rice, salt and of Treasury bills.

These mediate outlook ings impending maturities total £450 edged market may be uncertain, industrial raw materials, Kyodo million, and the Government history shows that the average the agreement would must decide wether to replace yield on

taken them by jew offer to the banks los has never exceeded ning Oct. 1, 1952: Associated or to the public. orto

After their losses of last winter, the banks per

per cent.

пя

increase the interest charge on dollora, Kygge opened plot, uTJIJADANE”

over

effective for

Pres1.

bo

ong year bagin-

The Government has started to crack down against hoarders.

In

tho territory held by Communist-led Vietminh, the is reported to be staple food selling for 10 times that much.

The North Vietnam Governor, Pham Van Binh, ordered police arrest merchants hoarding vital food

and charging · ex- prices.

21 per cent Consols, horbitant

various ten-year He also ordered a' reinforce- ment of the blockade around the provent Red River delta to

this is to be the ure. it Communist-ted Vietminh forcer be reluctant to take any experience of the future, from getting tice in the villages. thing but a short-dated security. means that the average price of

Hungry

24 Vietminh partisans Here the difficulty is that there 2 per cent Consols over the

London, Oct. 6. have been infiltrating the delta, are already hoavy maturities of next ten years will be not lower

The Pakistan Government hopes of than 622. Lust Friday's price to seizing or buying up

rlee at Government debt in every year was 58xd. History does not tons of wheat of American origin obtain from Japan 100,000 fantastic prlees, after French as far ahead as 1950. It looks, bombings destroyed the

therefore, as if the banks will always repeat itself. Yet I can in exchange for 50,000 tons of Irrigation dams at Thanh Hoa, have to be offered a new series not believe that an investment in rice, it was leamed today.

the uidated Government stocks miles south of Hanol, and as

would save at their current jaw prices would|Pakistan $14,000,000. France; Thai Nguyen, 40 miles north of

turn out badly in the long run. I Presse. Hanoi.

30

The coming rice harvest in November is expected to ease -the demand and taper down prices. Rica svid for about nine to 13 cette a pound a year ago and 10 cents a pound during the Japanese occupation. As- sociated Press.

Spinning Factories Planned

mny

of one-year bonds.

REVENUE SHORT-FALL

Unfortunately this may not be the end of the Government needs. We are now nearly half- way through the financial year, and revenue and expenditure arg both proving disappointing, have made some rough calcule- tions, and willo' the yield from income-tax and customs seems up to expectations, death duties, stamps profite tax pral excise pré not so good. Unless the final quarter of the year proves more than usually fruitful, the year's £160 million revenue may be ahort of its estimate.

Expenditure on the other hand is running ahead of its estimate.. Here, again one can only guess. The major part of the saving

Again the slowing

IC

Wheat For Rice

Such

મ

deal

Foreign Shipping

Firms Invade

The Great Lakes

Toronto, Oct. 6.

Foreign shipping firms, determined to share in Canada's industrial expansion, have invaded the Great Lakes in force.

Tokyo, Oct. 8..... from the reduction in the food subsidies has Two Japanese fibro firma aro pushing plans for setting up

Tailoring their freighters to St Lawrence River garnered. weaving spinning and

In defence expenditure, canal specifications, they have built up a substantial-- berately factories in Formosa and Indo-

made in order to and annually increasing-flow of commerce between the

with neria, the Press reported foxtay, leave our manufacturers

hemp

The Arins are the Tokyo Fibro more scope for oxport orders Great Lakes and European ports.

Company and the Jepan Fibromay

reflected 10 Industry Company.

return for the coming half of Fibre Industry this financial year. Even so, ex The Japan Company is negotiating with penditure for the whole year the Taipei Government on the

may be £250 million-above the establishment of a plant equip-

estimates. ped with some 10,000 spindles and weaving machines in the suburbs of Taipei for the manu- facture of military uniform cloth from flax and hemp.

Plans for 4 Sino-Japanese joint enterprise in the field are be supported by reported to Chiang Kai-shek.

Meanwhile, the Tokyo Fibre

sold:

1

"VAN HEUTSZ"

Nov. 10 Nov. 10

Nov. 20 Noy. #

Doc.

Dec.

Oct

Japan

Djakarta, Semarang. Spredala

facabene

Ular pole. Dlakpile &

Bingapore, Djakarta,

Burabaja & Macajar

Гарад

Bingapore,

Bemarang

-

cije, i

Surabata

Manila, Singapore à 9. Africa

Djakarta, Bemarang.

Зара

Barbata & Macisine

Djakkata. Semarang, Barabais

Japan

Singapore, Djakarta, BRMAZAEZ.

Qurapela di hipersINST

Djakarta Semering, Surabala

Biprapore,-

Mauriti

Tica America

Burubals & Macassar

Dec. I

singapore,

Dec. 11

Djaka,

Dcc. 30

a

Japan

`Burabala

•

BIDgapore, Plakaria, Bemarsz.

Buzabala A Massa

ABRIVALS

In Fort

Oct.

13

Oct. 10

JADER

From

B. America. B. Africa, Espriting, Djekarne Palembang. Polaris Deli & Djakket." Bemarang, Surabala,

Stgcassar & GiQERDOTO

TEL. 28015/18.

KING'S BUILDING, Ground Floor. CHINESE AGENTS: 82 CONNAUGHT RD. C. TELB. 31190, 25183

MAERSK

LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK, BOSTON, BALTIMOR“ 2. PIHLADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

LAURA MAERSK”

M.S. "ANNA MAERSK

Oct. 16

M.S. "LEXA MAERSK”

Nov. 2

MS.

LAURA MAERSK"

Nov, 15

ARRIVALS FROM USA.

MS.

Oct. 18

MS. LEISE MAERSK

Nov. 2

M.S. "GRETE MAERSK"

Nov. 20

AGENTS:

For Freight and Further Particulare please apply to:-

JEBSEN & CO.

Pedder Building.

Tel. Nog. 80000-9. Daten and retailon (aphject to change without notice.

At Jiberty, to proceed via other parts to load/digobarry saree.

HONGKONG

had

SHARE MARKET

NY Cotton

Futures

Eberhard Thost, President of was a Norwegian firm, the Fjell the Hamburg - - Chicago Line, Line. summed

up the views of European shipowners when he The real boom has come since the war. In 1950, the Fabre Line, a French company, "There is a great industrial) two ships connecting Mediter Last April, Mr Butler anticl-development taking place In runes ports and Great Lakes pated a Budget surplus of £431 Canada and we are looking for a clties. This year the Line ran million. A revenue short-tail of growth in trade between Canada six ships and is planning to add £150 million plus an expenditure and Europe. There is plenty of two more in 1953, excess of £250 million would business now and we are building reduce this surplus to a mera up connections so we will. be

April £31 million, Again, last April ready when the seaway is.” In 1951, West Germany was re-

March an extra- Mr Butler expected

presented in the trade by the The Seafarers International Hamburg-Chicago Line, all motor Exchange this morning totalled

Business done on the Stock May Company has concluded a con- super deficit of £500 millio Union at Toronto has called for a

July October tract for exchanging 8.5 tons of leaving him with a final over-batt" on "foreign vessels working

Noon quotations | December

BRITIEN SKUPS

New York, Oct. 0. Prides of cotton futures closed with small net gains. Prices closed today as 'rollows: --- Spol

· 39.10 nominal

(From Our Correspondent) October

vessals. The German company defolt of £75 million. Tho

for seven $497,508.48, ramic, raw materials of Indo- | delidit

success of the housing pro- Canadian Inland waters, and has regular sallings to the

ships during 1952. China, as the first stop

and the morning's transactions a heavy tax on foreign already urges gramme, however, is plan for expanded cultivation of

that Local Authorities ships until a complete han can British ships appeared for the SHARES BUYERS SELLEKS SALES meaning to borrow more from be imposed, rumio and an Indonesian-

RTO Japanese finance spinning and weaving plant-France-Presse. the Exchequer. This may also

the extra-Budget deficit to, per haps, £580 million with only a Budget surplus of about £30' million to set against it.

LONDON TIN MARKET

London, Oct. 6. The tin market was barely steady. Turnover was 105 tons Including 45 tons for cash. Prices closed today at the end of the official moining session,

Portygal dull spala Prices closed. Sweden

Switzerland

MIDDLE EAST

2.0014

.03125

2.7034

LATIN AMERICA

0725 .0330 0103

Acas:

1.00

as follows-

3164

Apet in, buyers

.0650

Spot in, sellers

3425

2003

FAR EAST

India

2004

Pakistan

tongkong

1787

Indonesia

.0000

Singapore Japan

360 YEN to USII

--- United. - Procr.

Ba| Tanker Launched At

-United Press.

Kawasaki Yards

DANKS

20 Bank... 1410 1420

ཅན༔

December

United Press. reh (long) **... NEW ORLEANS MARKET A New Orleans,' Oct," 0.

October Dedenber

Spot

March

Mayin

July

Qelaber

March (1964)

first time this summer. The Manchester Line arranged A shipowner, James Norris of Lake Forest, Illinois, said he monthly sailings with two new would like to see all overseas motor ships. F. A. R. M., an shipping banned from the Great other British line, entered the INSURANCES Lakes. Mr Norris, a Canadian-Lakes service this year.

Union ...... 700 mp 30 0 300 Sember born industrialist, said foreign

The India-America Line plang SHIPPING merchantmen could undercut to link Bombay, Madras and North American ship operators Caloutta

Asda Nay... cities in with Lake by at legat one-third because of monthly sailings.

DOCKS, ETC. their low wages and operating

ECONOMY ESSENTIAL This implies an over-all deficit of £650 million, which is 2475 million worse than Mr Butler's coste.

These of £75 million and I should be the first to this

线

culations are very tentative,

cloiso...

wrong.

The summer of 1952 has spen

business hit

a post-war they prove to be popk. Hardly a day phases with But they suggest two out one or two ships flying points. The first is that Govern- foreign Bags locking through the ment economy is essential, not compileated St Lawrence canals only in the 1953-54 estimates avstemn but for the rest of this year 254-55435 1052-53.

105 Business done at

900-199 Three months tin, buyers 16-

Three-montiua tiny sellers. Busine dons et Selement

EX

ited. Pron.

Saving Less

Washington, Oct. 0.

aside

COUTBO

return ta

loan to the neutralisin money in the form of liquid mentio, Agiter maY

Americans put

What commodities make up the cargoes of these ships?

Westbound, they cry con- structional steel, liquor, Swiss chemicals, cheere, machine tools, che precision instruments, wood pulp, fish all and porcelain. On the way back it is, asbestos, cars metals, synthetle rubber, milk products, agricultural machinery, washing machines and wood pro- ducts. ·

30. Whatt

Docb

Providend

'hat Dock?. Wheelock

LAND, ETC.

HIC Hotel

EK Land

JDC Land §'hat “Land 4 Humphrey's LIVELATIVESS

* 38.25

33.65

2831-

1.00

Grain Prices

In Chicago

Chicago, Det. 6. ripes of gralą"tulurca closed.

per bushel

32.19

Trum 10.00 19.00, 000 @ 28.79 | BORD PTrem (N Bier Ferry i

Secop Telephone

2000 281 2500 QPER60 lec. 10.00

17.00 18 1000- 1700

• He was their biggest INDUSTRIALS

SPECIALLY BUILT

are specially The majority The next is, will the Govern ment remain content to leave built for the Great Lakes run.

These ships are not Idle in the this deficit to be nuanced by the ausged mough to withstand the

segurest of North''Atlantie blows, | winter freeze-up. In Jato banks; or will they

they must be small enough to November they shift to the former

The squeeze through the St Lawrence European and African coxrial

canale with 200-foot

trade. Many ply the Far Eastern monetary

14-foot

Jungs not

even with Jumiled

tho Great Lakes saving" in the second quarter Propeller chonn er DAY, HE A

1952 they did

when many public bodies, dimensions, these freighters will

In 1940, they carried 20,000-ton Panimanian other quarter of the past 12 in the Empire as well as af carry a pay Ipad of 6,000 grows bupingss

home, oro looking to borrow tons a corgo that can be de 20,000 tons In imports, and 12.000. oll tanker Patricia, the biggest months, the Securities and from an overtaxed public who creased inbound and increased in exports. In 1980, the figure: STORIS. ahip of its kind built in post-change Commission reported.

invest.

outbound at Montreal,

Jumpad to 25,000 tona in importa war Japan, was launched today. Mortgage and consumer debt have, jillje monoy to

As compared with four in 1933 and 30,000 of exporta. Last year at the Kawasaki heavy Industry Increases and heavy drowing This

on current accounts, plus sabes This is the bearish side of the and nano, during the second saw a total of 20,000 tons of im The ship le due to be com- of Federal Government secure outlook for the gut-edged. wala

shipa in opera. This sunumer's figures raro, ex- make, arid I have song this: the turns are now or ports and 25,000 forus of 1014 ploted at the end of January, ties, escolanted for the bilme

in vlow of the tion on the St Lawrence) pected to excood by far alle Alzobiem navkigs= } 15" in"""" detall, 153 It was ordered by the Oriental-but still

rumours which have recently The plonger in, this modem | existing records. Associated MISCELLANEOUS 58% Navigation Co. in Panama from April through Jüng

been handled about.

European-Great Lakes service Press,

Yonglor Associated Press.

sociated Prem.

JAPANESE BONDS

Задарске Бонда

London, Oct.'6.

at

"A" (41, of 1890) *B? (4% of 1010) (da, of 1907) (00, of 1934)

"E" (5%s. of 1030)

Consols

220

741⁄2 dockyard......

1377

United Pross

La

Kobe, Oct. 0.

exports.

Cepent

D

COTTONS

Ewo

December

flout

1.70-1.7013

Exchange Rates

Bundauso was dans in the loc (uneclelak

Indonesian qulklers (per: 100)

Bjam tiesls (per, 100) Sati gingapore (ltraita)

||#20 pinuses! (pár 100)