1952-10-28 — Page 9

MESSAGERIES

MARITIMES

M

Arriving

..Nov. 10

*PEI HO"

"FALAISE">

Leaving

Nov. 19

Nuy.

Nov.

3

*FELIX ROUSSEL"

Nov.

4

"SAINT MARCOUF“

.Nov. 15

Nov. B

Nov.

IS

4 Je, 5

"PEI HO"

For passenger and freight.

M

Outward For

Japan

Homeward Pot

N. Afrien & Burope Marmeilles vis felgon N, Africa & Europe N. Airies & Europe

t. For freight to Saigon, Algiers, Oran. Tangier, Casablanca.

Havre, Dunkirk, Antwerp & Rotterdam.

• Accepting cargo:

-via · Markeliles to all Mediterranean & West Airlea Ports. -via Djibouti to Modagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

EVERETT

Tel. 26661 (3 lines).

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 Ports.

BRADEVERETT"

Arrives Salls

Nov. 4 from Manila, Nov. 5, for

"REBEVERETT”

Arrives Sails

Kangton

Singapore,

&

Penang, Calcutta,

Nov. 9 from Singapore,

Kubu Nov. 10 for

& Yokoliuma, (Accepting cargo for transhipment 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 ALCYONE”

- Londing

Sails

Nov. 3

Nov. 4 for Singapore, Bongkok, Colombo, Cochin. Bumbay. Karachi, Khurramshahr, .Basrah & Bahrein,

M.S. "NORDSTJERNAN”

Arrives Sally

Nov. 19 from Japan. Nov. 20 for Singapore. Port Swellen- ham. Madras, Colombo. Bonbay, Karachi, Khurram- shahr, Basrah & Bahrein,

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

EVERETT STEAMSHIP. CORPORATION · S/A Queen's Building, Tolephone 31206. Chineso Department: Telophono”28293′′

Britain's Loss Of

Hard Currency In Tin Dealings

BANK OF ENGLAND WORRIED

London, Oct. 27.

The Bank of England has again expressed deep con- cern at the loss of hard currency resulting from dealings in tin and other metals with cheap Sterling.

The Committee of the London Metal Exchange, which has been approached by the authorities, has written to members asking them to ensure that its customers ascertain that any tin purchased is solely for industrial use in the stated country of destination.

11

have

19

In

the

the

is substantial,"

concludes.another

THE CHINA MAIL, TUESDAY, OCTOBER 28, 1952,

Huge Tax Claim Against

Tin

British Concern Over ROYAL INTEROCEAN LINES

Companies Jap Trading

Jap Trading Recession

La Paz, Oct. 27. The Bolivian Govern- ment says the country's “bie three" in companies owe another 362,082,48# In back faxes and customs duties. The amount is in addition to more than 3485 million claimed from the companies three days BZD.

The Palino, Hochschild and Aramayo mines were scizril

bionth

fer this carlier

And are being operated under Government super. Vision

formal

pending nationalisation,

The General Administra. tion of Customs said yester. day the new claims cover differences in foreign ex- change, fines for illegal ex- port of by-products and un.

The pald export duties. claims Included Fating, 523,008,741: Itochschild. $41.148.558; $2,607,188. frem.

Aramayo Associated

Japanese Export Schedule

Increase Planned

Methods

London, Oct. 27.

The appointment of a committee to study the

Fears In Japan

BAIGING B

"MÁRTAŁYCHÈR“ Del. th 2) kiszapora a bjakarta'

Парад

Singapors. Djakarta, Kematang,

Karabela & Stresssar

Jakarta, Bremarang Nurabala

MATERI

黏

Hingapore, Belawan biri, Jakarta. Manrith, B. Africa & H, America JAYED

"TIWANGTM"

**TJIPUNDOK"

"TJISADANE"

ŠTÍPANAS"" MSTRAAT

BALAKKA

"TJHLUWAM",

"TRUKLBER "VAN: HLUTĒZ”

PTJIWANGI"

Nar.' 2

Nov, 10

Nov. 16

Nov. 13

Nov, 15

Nov, 10

Nov, 20 NOV. 12

Japan

Dec 1

Tokyo, Oct. 27. Inbour and commercial laws recently passed in The Prime Minister, Yoshida, today Japan is the right line of approach to the Japanese Shigeru application to join the General Agreement on started forming his fourth | "rassian"

back- "T1PANAS" Tariffs and Trade (GATT), says the Conservative Cabinet against a

ground of increasing econe. Daily Telegraph.

mic uncertainty.

Britain, the paper observes, wants first of all to be sure that Japan trades fairly. She wants also to ensure that her supremacy in high-class goods continues.

Japanese political comment- ators predicted that the st post-independence Government would be short-lived.

"TEGELBERG*

"STRAAT SOENDA" "TITJALENGKA“ "TMLUWAN"

#JHAMPER"

"BOISSEVAIN"

fir Yoshidu's Liberals have a →THWANO)“

But Britain, the Telegraph adds, never can be sure, and perhaps never ought to be, that fair competition in majority of only nine seats in the lower grade goods will be eliminated.

Discussing the problems raised by the Japaness bpplica. tion, the Telegraph says GATT itself is not very relevant to contemporary trade condilluns.

The general Iden of GATT is ot muit- encouragement

í 09 lateral trade, That

as, the principle,

idea of convertibility. But how far is either

the

In

Idea

present? The

practicable paper asks.

al

Tariffs, against which GATT

is directed, il continues, are only

Financial Talks

With Burma

400-member House of Repre- sentatives elected on October 1.

Like the last Attlee Govern- ment in Britain, Mr Yoshida will have to cut absenteeism to to aininimum if he is hot suffer defeat in a snap vote.

are further The Liberals weakened

internal dis- by sension, which continues despite apparent compromise late last week

the Hatoyama faction.

with

Mr Hutoyama's 39 supporters have the vollng power to bring the Government down at will.

DISAGREEMENT

London, Oct. 28. one obstacle to trade, and In The Anglo-Burmese financelal

not the fact,

worst, even Intoiks, due to begin here today, América.

have been postponed by a day, Quantitative restrictions Un a Treasury spokesman said. imports have been far more im- The extra day will give the One Issue outstanding

in recent years, purtant

mission, led between the two factions is Mr and Burmese Brancial GATT permits quantitative by U Win, National Planning Yoshida's failure to reinstate the in So many Minister, more time le prepare two Hatoyama men he expelled restrictions circumstances that it may be for the negotiations.

from the Party just before the doubted whether it Is a big The mission flew into London election. factor in contemporary trade. from Rangoon yesterday,

"Japanese competition," the

U Win Is expected Telegraph says, "was, however. talks to

a disturbing factor in Interna- tional trade long before GATT, and could be, and is beening

Tokyo. Oct. 27. The Ministry of Interna: tional Trade and Industry today announced an export programme of US$1,193,- 000,000 for the fiscal year 1953 (April 1953 March, 1954).

of

The gure represents US$45,- 000,000 more than the export estimate for this fiscal year of US$1.140,000,000.

It is US$202,000,000 less than the actual export of US$1,405,- 000,000 for the fiscal year of

1951.

The export programme was drafted on the basis that there no drastic change from will be the present trade tendencies.

According to the programme, the next fiscal year's trace with the Open Account Area is expected to increase.

However, trade with the Dallar

and Pound areas will increase,

Tanzan to have One of these, Mr with British officials on Ishibashi, formerly Mr Yoshida's Minister, disagrees the pattern of Anglo-Burmese Finance trade, Burma's Sterling position strongly with the Prime Minister and her balance of payments on economie policy. so even though GATT rematting situations.

Detailed discussions with One of the biggest problems as ineffective as it is at present { Treating" feials are also likely facing the new Government

MUST TRADE

16

"It may be admitted at them the position of the £27,800,-the possibility of a substantial outset that a densely populated 000 debt which Burma promised economic recession,

Industry's ulam at the prospect group of islands like Japan to start paying Britain in April must trade to live. We are in this year.

of an unstable Government is hastening this recession, many observers believe.

A Foreign Office reunenie sur» vey issued last week said indus- trial investment was now declin- ing and production is expected to fall during the remainder of this year.

STRIKE WAVE

according to the Ministry of In-makering and access to markets, i equal instalments.

the same position ourselves. But i The first instalment was due bact after Britai how can wage exists in Japan be pott April 1 levelled up to ours,

or ours Burned down & Burmese request levelled up to the Americans?" that payment should be post-

Even if wage costs could he proner. equalised, the

Slace the dust war the British paper gues o11. the

would problem

not Government has cancelled debts necessarily be solved. The level and claims totalling £36 million. The £27,000,000 debt still out- of remuneration is only one

like access to

standing is due to be paid in 20

The survey added that United States procurement, which has The Treasury spokesman said spent nearly $800 million in entering Into trade.

the Bevanites the that no date hos yet been fixed Japan since the It is only

Korean War the left-wing for a meeting between U Winatarted, was now at a low level. Socialist policy expounded by and Mr Richard Butler, Chun-and was not likely, to increase

Spring next year. Japanese is "WIN the growing bring influence changes In the Government's cennomic policy?"

ternational Trade and industry. Exports under the new year to Open Account Area are believed to reach US$308,000,000, or US$90,000,000, more than the trade programme of US$278.000,-

000 for this fiscal year.

Export to the Sterling Arca nations is estimated at US$485,- 000,000. This is less than the US$590,000,000 Imports estimated for this fiscal year and also the actual export of US$384,000,000 to the area during the areal year

of 1951.

adherents

Manita, elawan Bell, singzOSTS, E. 5. Africa & 8. America Jakarta, Klasspate,

RENATADI.

surahala kaakaz

jakarta. Remarang, Rutabula

Mireasar

Ringarbre, Djakarta. Semarang.

Hurnbais & Macassar

Ningapore, Penang & Delawan Del 17Jakarta

Surabala Servatez,

Macathe

Mahlia, Kingapore,

Djakarta,

Mauritius, 9. Airica & H. America Mania, Singapore & S. Africa Зарад

Singapore, Djakarta, Semarang.

Surabala & Macassar Djakarta, Remarang, Surabala

Macedakt

Kingapore,

Djakarta,

་

Buzabals & Maensiar

Dec.

Dee.

1

Doc. 10 Dec. 12 Dec. 10

Dec. 23

Dec. 31 *Jan 2

Горад

"RUYS"

JAN, D

"VAN HEUTIZ" "THLUWAD”

Jan. 10

Jen 10

*TIDANTJEN

Jan 10

Japan

MAKASSAR” JWANGI"

OTJTJALENGKA"

TJIMENTENG"

Feb. 1 Fed, 2

Feb.

Feb.

9

"STRAAT

Semateng,

planita, Ringapore. Djakarta,

Mauritius, S. Africa & 5. America

Singapore, . d. Afclea

Singapore, Djakarta,

Burkbala & "Macariae

+

Зарап

Singapore.

Jakarta,

"Burabain & Mincuruat

Singapore,

Semarang,

Semarang

DJakarta, Mauritius,

8. Africa & 5. America Manila, Singapore & 8. Africa

From

Macassar, Surabala, Semarang,

Djakária & Bingapore .. America. B. Afties. Mauritius,

Ningapore & Manlia

ARRIVALS

#TJIWANG**

"HUTA"

"TJISADANE" TJIPONDOK"

Qel.

Del.

25

10

Ner. *

Japan

Nov.

Japan

KING'S BUILDING, Ground Floor.

TEL. 28015/18,

CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS. 31195, 25133

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "LEXA MAERSK”'

M.S. "I-AURA MAERSK❞ M.S. "LEISE MAERSK"

M.S. "LEISE MAERSK"

ARRIVALS FROM U.S.A,

M.S. "GRETE MAERSK” M.S. "JEPPESEN MAERSK”

Nov. 2 Nov, 16

2 Dec.

Oct. 31

Nov. 19

Nov. 28

Mr Aneurin Bevan-who think | cellor of the Exchequer.-Reuter, before question asked by many For Freight and Further Particulars please apply to:-

Britain can somehow by her own action ensure that the German and Japanese workers live at a permit her to level that will trade without fears. The Telegraph

concludes by pointing out that Japan is denied access-to-a-natural-market —in China, and it is therefore all volume to the more important to her that be exported are: textile goods, she should be able to sell her US$420,200,000; Iran and steel, goods in other parts of Asia and US$207,300,000; machinery, US-Africa,

where they are wanted. -$172,000,000; non-ferrous ma- Britain would have real

grounds tals, US$43,300,000; chemicals, for complaint if Japan resorted US$53,500,000: marine and agri- to misust of marks of origin or cultural products, US$128,000,- COO and sundries, US$159,500.- 000.-France-Presse.

Goods and their

Biggest Tanker

In The World

Tokyo, Oct. 27. Three foreign oil tankers, in- cluding the world's largest, will be launched at Japanese ship- yards In the first four days of November.

Petrokure,

The 30,000-4on bullt for the Nailonal Bulk Car- riers Company of the United States, will take the water on November 1 at Kure.

'The

Ceylon Rice Hatoyama

Deal

Starts

Controversy

Colombo, Oct. 27.

Political observers predicted that the new Cabinet would |contáln_many new names.

Almost certain to go, they Finance Minister Foreign Ikeda and Minister Katsuo Okazaki.

said, were Hayato

The new Finance Minister will The Government of Caylon face a growing wave of strikes ef in the cal and electric power has purchased 60 000 tons rice from China and this has industries. created a controversy whether other malpractices that have Ceylon should barter her new not been unknown in the post-ly-won Independence for London Express Service;

World Cotton Exports Show

An Increase

Washington, Oct. 27.

measure of rice.

EXPORTS DOWN

He will have to deal with an The first consignment of this expected decrease of from 15 to rice

is expected in or before 20 per cent in exports to the November. This quantity is re-Sterling Area, as a result of garded as the fore-runner 10 Commonwealth import restric- further purchases of rice from tions. China Ceylon

Thess have aggravated the Is willing to buy anything up to 200.000 tons. loss of Colonial and Cornmon- Although 80,000 tons of rice wealth market opportunities. have been purchased, no trade which resulted from the culling agreement, us such, has been down, early this year, of licences signed with China, according to to trade with these areas. official

circles. The Govern- The Government took that since rescinded, In an Colombo and growing Sterling bulance.

The Agriculture Department ment mission which tegotiated step,

purchase of the rice, re-attempt to hold back Japan's

the

said today that world collun the exporta for 1051-52 totalled vently returned

The Japanese textile industry 12,300,000 bales of 500 pounds, placed before the Government the result of the talks with an increase of about 300,000

China regarding the possibilities now finds itself burdened with bales or 2.5 per cent over the of trade between the two coun

raw materials bought at high decreasing prices

facing previous year,

tries.

market. The foreign crops and mar-

Meanwhile, in view of the Many textile mills, particularly kets report said that cotton ex- ports

non-Communist dimicult situation faced by the the maller ones, are looking from countries totalled 200,000 bales rlee consuming countries in the the Government for a policy world, the Food and Agricul-designed to give them seme higher that a year earlier.

Indin, France, China, Spain tural Organisation is convening long-term security, despite and Portugal increased cotton conference of rice consuming intense international and local imports by about 700,000, bales, and producing countries to dis- competition. Reuter. which more than offset the CUBS measures to meet it. The the meeting decreased

exports to nearly all date and venue of

will be decided shortly. of other countries,

The low stocks of cotton and

of 100,000 tons of the high rate of mill consump-allocation

Negotiations tion in these countries through rice from Italy. most of the year were the main in this connection are proceeding

Government reasons for increased imports, between the World cotton suppiles available Ceyton and the Italian Govern- for export in 1931-52, mostly ment through Ceylon's envoy

were in Rome, R.S.9. Gunawardene,

On the ame day, the Harimn Shipbuilding

will Company 20,300-ton tanker, launch Its Blue Sky, bullt for the Greek firm of Petros M. Nomikos.

The Mitsubishi Company at 4 will Nagasaki on November Traveller, built for the Trans- Ocean Carriers Company Liberia-United Press.

considered virtually immediately re-exported on Impossible, however, to stamp reaching a European port with- aut commodity deals involving out ever leaving dockside.

"It is apparent

from the use of cheap Sterling, and

England's latest nature of the protest made by the Bank of

launch the 24,009-ton Ionian to the London Metal the Bank of England that the

loss of dollars is sub change is not expected to

writer ve any spectacular result.

Financial "There is, the Time

"Lombard," the news- side of this question. The very piper's money market expert, nature of this trading has the that customers of effect of reducing the gap be-. points out

in London tween the official rate for the metal deniers must be assumed to have the Sterling and the transferable assurance of buyers that the tin and, such being the case, the shipped from the Straits, for instance, is destined for, say, continuance of these transactions Rotterdam,

other tends ultimately to make them Express European port, but they have no unprofitable."—London way at present of knowing Service. whether the metal is immediately moved

the vessel Rotterdam for reshipment to a dollar destination.

trom

от

any

It is ins

"Lombard" Bank of England

112

impossible,

for the

-to secure a

LONDON TIN MARKET

sworn declaration from a bank The in market was steady

New York Sugar Futures

New York, Oct, 27. World sugar futures closed today 2 higher to 1 lower with sales totalling 60 contracta

Contract Nat closed un- changed to 1 lower with sales totalling 39 contracts.

Prices closed as follows:.........

Contmel No. 4 (world)

3.06 nomine! 9.79 bd

January March May London, Oct. 27.

July. Beptember October this morning. Turnover was "43

January lona, all for forward. Prices closed at the end of the official Spot bien received into the country morning scusión as follow

In the importing country to the effect that the metal has actually passed through the Customs and

for industrial

Spot En, buyers

The business cannot go on 1, sellers unless the tin-or other coffi modity supposed to be destined for a non-dollar country. Le

elther-transhipped fat-sta: or.

9.50

3.63 asked

2.04 asked 3.23 nominal. 3.00 nominat 4.00

2.70 nomi 0.40 bid

Contract No. 0.

940

930.

January March Moy July

900 *****... $440-930

131 -United Press.

September November

Spel

Business done at Three-months tin, buyers Three-manips tin, wellers... Business done at...

Bettlement

6.71

from the current crop,

has asked for Ceylon has

an

to

Grain

In Chicago

AGENTS:

JERSEN

Pedder Building.

CO.

Tel. Nos, 36066-9.

Bates and rotation subject to change without notice. Aberly to proceed via otiser porta to load/discharge cargo,

The Rubber

Markets

Singapore. Oct. 27.

Prices of rubber futures closed today as follows:-

Number 1 rubber, per lb.

November

December

7346-32 7715-96

January

Number 2 rubber,

November

7354-16

Number 3 rubber.

00%-15

8454-55

00-601

November

Number 4 rubber,

November baled 10 Spot rubber.

Blankes crepe

No. 1 pale crepe 101-100 United Pres. NEW YORK MARKET

New York, Oct. 27. Prices of rubbe; futures closed today 70 to 75 points lower with anles totalling 23. contracts. The market steadied at the close, after slumping 100 points earlier. Active quidation followed tetback in London and the news that

General Services the Administration is about to con- clude stockpile purchase from Thalland Paces closed today as

follow-

November

December

27.50

January (1933)

February

March

April

20.00 nominal 23,47 nominat 23.05 bla 24.72 nominat 25.50 nominal 29.30 nominal 29.10 nominal FADE nominal 24.80 nominal 24.00 nominal

Prices

- May

June

July August September

November December January (1934)

@pot

United Frew.

Chicago, Oct. 27. The strength in wheat and

Ceylon's Food Department is ryd futures at Chicago more than the previous year and more awaiting a communication fr than offset a sharp drop in higher by about 2,000,000 bales

I more tolv indleating the aunnuity rubber prices while the other than adéquate to

to meet the export demand. The United States ac-be set apart for Ceylon. counted for 46.8 per cent of the ing Ceylon's failure at the last markets acted irregularly, Wheat world export total in contrast to tender to secure on allocation of cloned 1% to 1% higher and 35,8 per cent in 1930-51 when rice from Burma, It is stated soybeans were 8 to 1% higher.

are Prices closed today as follows that the Burmese authorfifes are

Whest-price per bushel export controls were in force considering a special allocation Spot United Press.

which may become available to December Ceylon before the end of this March

Seeds And Oils

month-United Press.

MAY

July

Corn

Врод

Washington, Oct. 27 The Agriculture Department Merch

| July reported that New Zealand wool May production for the 1982-33 sex- son is expected to be around December * 410,000,000 pounds, on increase

tyo'

New York, Oct 27, Prices in the seeds and oils market closed unchanged with the following exception:

Pennut all; per lb, F.O.B. New York,, 1892 tenta

Flax Seed, per bushel, F.O..of about 10,000,000-pounds. The December

Minneapolis, Pros,

New York oper $4.08. - United estimate was based on Juno, 30 Mar

theep numbers-Willed Press. |112K-United Press.

October

24,30 nominal

2440 notizial

24,50 nomina)

27.00 nominal

LONDON MARKET

HONGKONG

SHARE MARKET

(From Our Correspondent)]

Business done

on the Stock Exchange this morning amount- ed to $239,400. Noon prices and the morning's transactions:~~ BHARES DUYERS SÉLLERA BALES

10K Bank .. 1423 Как Авта INSURANCES

Conton Union

Ink Fire.... SOPPING

Waterboat...

SXNVE

12 @ 1620

130

210

90745 150

100 @ 770

13

1500 @ 1,8435

100 @ 1.40

12

Asia Nav, 140 DOCKS, ETC. K. Whart N. Pt. Whart

Dock ... 2100

S'hal Dock .. Whoclock... 473% 473%

Hongke... 120

LAND, ETC.

The Hotel ... 615 0.80 HIK Land (0) Ik Land (N) S'hat Land UTILITIES

15759

Tram 2020 2015 500 20.30 Peak Tram

(Old) ........... 316 Peak Tram

(Now)

16.00

C. Light (0) · 0% 0.35

C, Light (N) ot Electric................ 23.20 Misco

Xectio Telephiana

INDUSTRUALS London, Oct. 27.

The rubber market was unTM 公司 closed Prices certain.

follows:

Number 1 rubber, in penco

por Ib.....

December

January/Marcis

April/June

July/September

-United Press.

JAPANESE BONDS

2.3114 2.34 2.416.42

2.4812-14

1.00

2.00-0222 -2.0016

:70:

"D" (8 of 1934)'

"E" (48158, 0£ 1030)

148

I. Back,

Consuls

501

London, Oct., 27.

Jasper bonde

"A" (MI,; Of 1809)

vy 10.00

17.30 1735

Comment.. 17.00 10 2000

400

Hope

*:00

STORES, ETC.

Dairy

20.70

Watson

・Le

... Crawford .. 20.20

Exchange Rates

- this

Business was done in the local unofficial експанте market morning at the following raten :-- V.B. dollar Joer #11 Sterling note: (per &1).

Indonesian sülldara (par

Hlam ticals per 100)

FICH pleatres (por · 100)

Bingapore (Biraits).

[RGERNA