1952-10-30 — Page 9

MESSAGERIES

M

"PEI PO"

'FALAISE"

FELIX ROUSSEL"

BAINT MARCOUF”

"PET HO"

MARITIMES

Leaving

Nov. 10 Nov. 7

NOW. 3 Nay. 3 Nov. 4 Nov. μον. 15 Nov. 14 Dec.

Dec, 5

* For passenger and freight..

M

Outward For

Japan

Homeward. Par

N. Africa Europe Marseliles via Salgót N, Africa, Europe N. Africa Europe

For freight to Balgon, Algiers, Oran, Tangler, Casablanca, Høyre, Dunkirk, Antwerp & Rotterdam,

Accepting cargo:

via Marseilles to all Mediterranean & West Africa Poris.

vla Djibout to Madagascar.

Subject To Change Without Noties.

CIE DES MESSAGERIES_MARITIMES

P.O. Box 53, Hongkong Queen's Building (gr. floor)

EVERETT

Tel. 20651 (3 lines).

LINES

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

"BRADEVERETT”

Arrives Salls

Nov. 4 from Manila. Nov. 6 for Singapore,

Hangoon

"REBEVERETT"

Arrives Salls

&

Penang, Calcutta,

Nov. 9 from Singapore. Nov. 10

Kobe & Yokohama. for (Accepting cargo for transhipment Kobo/Pusan and Kobe/Okinawa)

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

FIRST CLASS PASSENGER ACCOMMODATION-

M. S. "STAR ALCYONE”

Loading Nov. 3 Spils

Nov.

4

for Singapore, Bangkok, Colombo, Cochin, Bombay, Karachi, Kharramshahr, Busrah & Bahteln.

M.S. "NORDSTJERNAN”

Arrives Salls

Nov. 19 from Japan. Nov. 20 for Singapore. Port Swetten- harm, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein. (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

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

Amsterdam Taking

More Shipments From S. America

Amsterdam, Oct. 29.

The importance of Amsterdam as a West Euro- pean transit port for South American products has grown rapidly in the last few years.

The quantity of goods flowing via Amsterdam to and from South America is increasing monthly.

have

THE CHINA MAIL, THURSDAY, OCTOBER 30, 1952.

Rice Crop In Producers In America ROYAL INTEROCEAN LINES

·P.I.

Washington, Oct. 29. The Agriculture Depart- ment today forecast the 1952-53 Philippines rice harvest at 0.150,000,000

pounds. The Forelsh Crops and Markets Report sald that this early catiquato la considerably larger

the

previous orga 6,700,000,000 pounds tyr- vested two years ago. United Press.

Export Incentives Needed

London.

The tendency for world trade to contract just at a time when Germany and Japan are engaged on an all-ny) big to regain their pre-war platus na leading manufacturing countries has inevitably had the effect of intensifying competition for available export markets, says the "Financial Times,"

One of the less desirable products of this development has been the rapid spread of and dollar-retention schemes other forms of State assistance for exporters.

Within the past year or so the system of granting special ex- dollar change concessions to

pioneered by the exporters Netherlands has been actively taken up by Germany, Denmark and France.

In addition, the competitive poslilon of many foreign ex- porters has been materially strengthened by the conclusion of bilateral

barier arrangements which assure them of markets for their produce often at the expense

Britsh of

traders. Furthermore, many foreign countries have been willing to assist their exporters to grant credit terms which-up to the time of the recent change in British policy at all events gave them considerable ed vantage over the British pro- ducer.

WELL ADVISEN

The decision to conduct an Investigation into the possibility of extending export incentives to British manufacturers To therefore well 'advised,"

In practice it is to be doubted whether a satisfactory answer to the problem presented by the spread of State Assistance for foreign exporters is to he found

by resorting to similar practices. It is

not only that the employ ment of such measures as the dollar-retention scheme might entail breaking British national commitments.

The entry of Britain into this field could also have the effect of aggravating a form of trade war that already seems likely to defeat its own purpose white leaving all those participating in it so much worse

inter-

The solution moit to be de- sired would be the elimination of dollar-retention schemes and. other equally undesirable trade weapons through International Agreement.

Fear Over-Expansion

In Some Goods Profits

DISPUTES WITH CONSUMERS

New York, Ost, 29.

The law of supply and demand — taking over from US Government controls in many industries ➡ig çanging sharp disputes between consumers and producers.

Shutdown of high-cost lead and zine mines— with attendant unemployment is feared in many mining areas. The reason: sharp drop in the price of the metals, led by weakness in the London futures market.

And oil production capacity has now outstripped current demand to the point where many domestic oil producers are clamouring again against the increasing flow of foreign pil jo the U. S.

further

On The Upgrade

Better Trend In United States

"TJIWANGE

BALLINDS

J

13

Japan

Diskarta. Broniung

· MAYALSAY

ESMATANE

Surabain

Below 5)). Bingapore. Dinlineta

"BUY"

TJIPONDOK"

"TJIBADANE-

"TJIPANAS"

Nov.

Nov. 10

Nov. 13

Nov, IN

Now, 20

Maylin. Bejawan.

Sjaspore,

Relli

JBOLJIKA

"TJUWAD"

STEGELDERO“ KVAN UKUFIZ” STIHANGE

STMINANT

|*TIKANAL":"

**FFOFFBERGT

CITRAAT BOENRA?

New York, Oct. 20. Prollts are on the upgrade | "FIRAMBEE" again-If the Bro; U.S.com is panles 19 FERAFT PEAVE Lynical.

"The first 45 corporations to announce their net carnings after taxes for July, August and September quarter show:

(1) Profid of 20 running chead of the sumo period of Government

for Due to last Summer's steel 1051; 13 proposals

making expansion of facilities | strikes, mills are behind on de-. for certain types of steel- liveries.. are meeting with making resistance from scene steel pro-industry for that by. mid-1959 spokesmen of the steel ducers, who tear over-expan sion in lines unprofitable after their fast expanding capacity will have gone beyond the point the defence programme cases.

of demand from the users both military and civilian.

|

"PFFB".

ZAN UNVER **

NEUWAR* #TUBANTJET!

(3) The 5 laving combined profits 18.4 per tent higher than | "TIITIAI

against $164,186,179 a year ago. $189,103,431

summer, "RENTING" These curly comers ore but a handful of the hundreds yet to report and contain only two of "TIINANGI" The return of striking coal

the industrial

giants. Thus miners to the pits on Monday

And others close to the in- they are far from conclusive "ROTE" assures abundant supplies of

a trend Also, they | fuel" with fncreasing

dustry report that Government evidence of

further, expansion may prove to be heavily weight petition among coal, oil and gas requests for

of facilities to for the business of fuel con- kinds of steel cepecially wanted made striking gains this - make certain; od by a few companies who sumers.

by the military la raising the mer. Fears of over-production of

But they make cheerful regd- ethyl alcohol- the New York question: Will the industry lose

money on such facilities in for stockholders when.com- pared with the profit trend Journal of Commerce reportspacetime?

carlier this

Year, is causing Du Pont to close its plant

In the April, May and June Jersey.

at

com-

Deepwater, New QYER-PRODUCTION?

+

A plant to make synthetic Still others predict that by quarter much more complete re- ethyl alcohol is being bullt at next year U.S. steel mille may ports showed U. S. corporate carnings running 13 per cent Tuscola, Hinois, by the Na- be secking new export markets behind the 1951 second quarter. flonial Betro-Chemicals Corp., to only to run into competition In the first three months of

European hydro- from

mills. And make this and other carbons out of natural gas. Du they add the warning that taxes xan around nine per cent this year corporate profits after Pont is reported as

believing are signis already of approaching that the synthetic plant will be over-production in the Interna- behind the 1951 first quarter. able to fill all the nation's lunal steel market.

HIGHER DIVIDENDS needs for ethyl alcohol by mid- 1953.

Stockholder have

another earnings during the first hold of this year, directors of many corporations maintained Di raised dividend rates.

anti-freeze,

And still another worry hangs

"Ehyl alcohol ja used in mak-/over the steel mills. How long couse for cheer. In spite of lower ing

will their coalplies last with the beverages, miners out in protest of the drugs, dyes, smokeless powder Wage Board's refusal to let the and flavouring extracts.

operators raise pay by $1.00 day?

GOAL ATTAINED

excess

In the petroleum industry the Government's goal of million - burrel -a – day productive capacity has been attained. according Suman, New Jersey Standard Oll Vice-President.

to

The Government asked the industry to bring capacity above romal domestic demand as a reserve quickly available if the nation were attacked,

The industry also has been Importing petroleum from Venezuela and the Middle East at an increased rate-more than 10 per cent of US. crude all

output,

is above

PRODUCERS ALARMED

For the first nine months of rents ran four per cent ahead this year total dividend ́ pay- of the same period last year,

Industries, earning

In many

makers stems from this Step The plight of the appliance- inventories fell during the heel strike, arid so did the Inventorie) of the appliance-makurs' pro- prospects appear öven brighter seatly increased sharply, und 1052 then for the quarter just ducts. Demand for these his for the final three months of now all the steel they want is ended. Year-end extre dividends not available under Government may not be as generous as allocations.

formerly, but many observers feel that total dividend pay ments for the year may equal, and possibly excemt, last year's record payments,

The 45

corporations reporting show the usual wido variance in profit pattern, Four of themi operated in the rod In the third quarter.

Two others were sharply lower,

One was a steel company, ro

Government officials think it will all come right later this winter, but it's the present the users are talking about.

The tussle over steel expan- sion is aired today by the ende magazine, the Iron Age.

LEAST PROFITABLE

so far

Members of the Independent Petroleum Association of "Some of the product-capa- America have protested that so clues the Government would flecting losses from the strike. great a flow of foreign oil is no like to see expanded most are The four small iron and stect longer needed, when domestic considered least profitable in a companies to report so for capacity

the Iron showed combined net profit 4D. peacetime economy." domestic needs. Mr Sumar contends that Age says. It predlejs keen dig-si cent below earnings in the some Govern-third quarter of 1957. For the the excess domestic capacity appointment in

|ment circles.

half of the year, (including should be regarded strictly as a

the strike month of Juhe), 32 defence measure.

Some steel items needed for iron and steel companies had defence and defence-supporting combined earnings 21.6 per cent

below the programmes are in extremely

first six months of In the metals field, falling short supply now,

1051, weekly the cayn, adding: "Howover, In- On the bright side, ning ol Americon prices have alarmed

the 20 with higher pornings EASIER SAID

plans arg producers of lead and zinc, dustry, expansion

substantial gainal-Asso- However this may be easier below its 19-cent celling. Zine when put to this tost some of

Lead is now 5 cents a pound based on estimates of demand show

Over the next several years. ciated Press. said than done even though a

la seven cents a pound below step in the right direction has to 194 cent ceiling.

these products do not jook been taken through the

like good breadwinners." Small American lead "of auguration, with the

approval

Many leaders of the steel in- of anzine mines are urging Govern- the practising countries, International

step dustry are on record as fearing Monetary Fundment defence agencies to

dollar-retention inquiry into

and prevent widespread that Government pressure for and similar exportTM

For one expansion of steel capacity is Incentive shutdowns of mines,

thing, many are alking an in-feinging them close to the day systems.

on foreign when with military demand The right course for Britaincrease in tarifi

metal. for the

The current lead tariff; ebbing-Bey will have too present, however, La

The civilian demand to keep clearly to make the fullest pos- is 1-1/16 cent a pound. sible study of the subject so zinc tariff is 7/10 of a cent their furnaces going.

that action can be taken if no other alternative presents it-

In the first quarter of this, Dampfschiff-Gesellschalt успе 20,000 tons of Brazilian sulceted Amsterdam ቦ። the produce (Jan-Dec. 1951, 55,000 point of arrival and departure | self, tons) arrived in Amsterdam, as for their South American compared with 10,000 tons at routes. Antwerp, 24,000 tons at Ham- burg. 7,500

and

tans at Bremen, 12,000 tons at Le Havre 7,000 tons at Rotterdam.

Freighters

of the

Now 24

freighters of the H.S.D.G. K.HL Dodero and maintain a regular, intensive traffe between Amsterdam and Royal the whole East coast of South Dutch Steamship Company America, while the K.N.S.M. (KNSM) and the Royal Dutch fleet trades to some 80 Central Lloyd (KHL) have linked American and West coast ports. Amsterdam with

The more extensive goods

numerous

South American ports for years.

pound.

and

le

From the construction industry

HONGKONG SHARE MARKET

(From Our Correspondent) The break in metals prices

Business dono on the Stock followed British action tr re-comes a similar prediction. David In the meantime much could turning lead to private trading resident of Gotham 5293,605.90. Noming totalled be done to omist British x and then selling British Construction Corp. of New York, Noon prices and the porters through the removal of Government-held lead at prices says that within a few months morning's transactions export disincentives, including well below those in the United steel mills will have to shanes BUYERS SELLERS SALEE such a powerful brake on the States.

concentrate more on export soles. DANKS The British now plan He says the mills already can

1K Bank trade flow as the complicated to do the same in zine.

Kit Aris formalities with which the

produce more than "AmericanS INSURANCES Foreign offerings of both lear! will be wanting in a few months.

Canion British exporter is at present

and zine have depressed the

Underan required to comply.

American market. The price rufs The International steel market

HI T hero, however, haye pos brought is beginning to show signs of DOCKE out any rush of American' con-falling off, he odds. But Mi sumers to buy.

'But recently, at the instigation traille to and from Amsterdam A Dutch Bank

of the K.H.L.. the Argentine is a result of the city's increas Dodero Lines and the West ed importance as a transit port Garman Hamburg - Sued for Europe the world."

Dutch, Argentine and German freighters

convey Argentine

Trade Fair In tanning material,

Holland

For Canada?

Most of them appear to think that the foreign supplies of

Pickel isn't worried.

"The building industry of thei

cheaper lead and zinc will United States is happy," he saya,

“because them developments fa».

assure them of meeting their needs both now and later on. Ifdicate we are slowly reverting to LAND, ETC.

a "peacelime economy." ---- As- so, more mines may clone.

sociated Press. Associated Press.

lipgood.

apples pears and other fruit, wool and

Montreal, Oct. 29. hides to Amsterdam, where Dutch banking" interests plan they are transhipped to various to rablish a bank in Canada, European and non-European financial circles say. The Dutch ports.

will apply for a charter at the European exporis ・・ to South next session of Canada's Par- niling new records in produce of chemical and pharmaceuti- America vla Amsterdamare Hament

Rotterdam, Oct. 29, The first International Fair

cal equipment to

In the Netherlands will

the f

bank" whi

TRYING TO ESTIMATE

New York, Oct. 20: Bleel mills of the U.S.

Hon are besloged today from

to

HK Hotel

FX Lend S'hal Land Humpitoys

Electric Power UTILITIES

Production

F. Tram

Bar Terry

1420

13.30

20.20 2015

Tephon

· 2,00

The charter is being sought pr be organised Increasing, 190. Industrialisa-

New York, Oct. 29.. be lion causes

a continuous Bow by the Nationale Handelsbanks and the doverom Producers held in Rotterdam from Octo-of motors and machinery. N. of Amsterdam, an old guess what the demand will be U. & electric "powerPro ber 21-29,

agricultural

truckstablished, trade bink. It is un- in the month chy machines,

duction: dezreamă slightly" last of Dutch mm-qual A number

rallroad equipment to derfood

Somo

#774 por try, wook" but continued “ porters will show new and Angen

don't get.. Morp and Paraguay. From oparile ao an milate of the that if the lopt, re

gboxy, the figuren of -- Sizt test now they can't all a new | modern equipment of West 1818

agoj River Plate aren via Amster-in trade and European and U.

Edison Electric Institute stones, trade dam roso from 68,000 tons to

1959 of the atomer car makers say klowatt Najje, tort week come four Managlig birectors of the The exhibition will cover 165,000 tons, while expects" to horo than three-quarters of 'an) Brazil in the hind” përíód kont Nationale Handelsbank, has made they may have to shut down by pored with 807,050,000 the several trips to Canada this February unless their steel previous work and 7,149,408,000 big Rotterdfamed from 23,000 tona' toʻ 191,500 “Aliop”. Hall-Associated Press, tons,—Associated Press..

-Associated Press,

quotas are raised,

year ago;-Associated Press,

·acto: In: the

זי

· 1951 exports to tho Amdddan bark and specialles | #1CHY OF of the Chriff://led), output at 7,081,332,005

50 12 1633

STILJAPANES "TJIFANRAK"

Dec.

*

MÉBORSSAY

ŽEMEINS

Djakarta.

Japan.....

Djakerta. Semarang, Surabela

товарога, Djaka.

"Burabola #stackssar

ajngapore, Pohang telah Delf Djakarta Semarang, Bujabel. #

Machar

Manila, in ADRES.

Mikurida, B. Africa à S. America Maple Gingapore Africa Japap

Bingkpore Djakarta, Semarang.

suduranala, a Macappar Djakarta, Semarang, Surzbala

MECASAZ

Blogspore, Djakarta,

'futabala z MacÁsiar

Manila,

Singapore, Djakaria,

Mauritius, 8. Afilea & 5. Ainstica

Mingapore, E. & 8." Africa

Bingapore), Djakarta, Bemaran

Burgbala Macassar

Japati

Japan

Singapore, Djakarta, Semarang

"Surabals #MACHSELF

Bingapore, Bjakarta, Marrias,

́6. "Aften &"8. America

· Manila, Singapore -&^4. Africa

From

ABRIVAL. 8

MECAMAT Surabala,

Djakarta & Singapore

4. Apibrien, 8. Africa, Mauritius,

Blágkpura & Manila

Гарад

Fea

!

In Fort

NAX: 1

NOY.

Japan

KING'S BUILDING, Ground Floor,

"

Semarang,

TEL. 28015/18.

CHINESE AGENT); 83 CONNAUGHT RD. C. TELS, 31100, 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” MS. "LAURA MAEESK"

M.S. "LEISE MAERSK”

-

ARRIVALSTM FROM U.S.A.

MS. LEISE MAERSK" M.S. "GRETE MAERSK” ·

M.S. "JEPPESEN MAERŞK"

NON

Nov. 监

16 Nov. Dec. 2

Oct. 81-

Nov. 19

Nov. 28

For Freight and Further Particulars please apply to:—

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos. 30066-9,

--Datey-ang-rotaliqp-spþjosh-to-change-without notice.

at liberty to proceed vis other porta to load/discharge carto.

British Approach Ta Japan

Tokyo, Oct., 29, Japanese sources today sald that the Government has re- celyed an unggelo)" communi catlon from Britain expressing o desire to hold pegotiations in London at the earliest time possible for discussing redemp- tion of British-held Japanese bonds containing the dollar pay: meat clause.

INCREASED

OUTPUT

OF TOYS

But Prices Are No Higher In U.S.

New York, Oct. 29. The production of toys in than 10 per America la more cent above last year and prices

· ΠΟ

Norman G. higher, Wintermantel, President of the

Toy Manufacturers of the U.S.A.

and · Executivo

Vice-President.

Britain and Japan agreed at of the Junior Toy Corporation, the international bondholders reports. conference on Japan's foreign

was made in His statement debts in New York on Sept. 20 connection with a pre-Christmas to settle the issup of these dollar trade viewing of new products opflon bonds as soon as possible here through negotiations both Governments."

between

"The general price level of 1052 toys is a little below or the At the forthcoming conference some as last year's," Mr Win- temantel said, "with emphasis In London, the British Govern- ment will demand from Japan on new design and construction.

that give ext play value and of Japaneży the repayment bonda in dollar currency as quality Total toy volume is estimated at between $320,000,- provided for in the original 000 to $400,000,000-manufac

turers' valuo-more than 10 per

Hon contract.

1952

production.

If the Japanese refuse to pay cent phend of 1951. In dollar currency, Britain Many toy lines already are would link this ue with the sold out on. Anglo-Japanese Trade and Limitations on metal use aggra Payments Agreement.

vated by the

steel strike There is a considerable like have cut the available supplies lihood that both "Britain and of motol toys bollow matstoe. Japan will take advantage of the turers lesup of dollar option bords to now seems probable that some rock odvantages in the Payments categoriva:

short Acco oper

the insun will thus | In

metal toys may be

earlier estimates; "80"

ts Dæmand

Supply

sull highest, he

.for.

that

cowboy-and-Indian

regarding

Big

Items, with loys arid costumes pr

involve C

greater complications.

Government dirclesbellayo sald,

the negotiations

Anglo-Japanese Payments the space-travel themb next.

6.50 Accord will take on deinito Military interest romains big

the end of Apsociated Press.

sources congidored Bri-

tain's stoposal" for the London Exchange Rates

conference as the first move to

2000 17.29 rock

advantages in the Payments

Accord.

There are six kinda pf imgenoodrecherig dollar clouse bonds at present, toteTATIE, OR SHIN

lone as the deal

markét^tika

and unpold gustatanding príncipal | Zah

and Interest total approximately Indon

£70,000,000———Associated

fate

(100)

@sand France Presio,

358227