1952-11-03 — Page 9

MESSAGERIES M

"PHI HO".

†FALAISE"

Arriving

THE CHINA MAIL, MONDAY, NOVEMBER 3, 1952.

MARITIMES ECONOMIC ACHIEVEMENT ROYAL INTEROCEAN LINES

Leaving

-Nov, 10

Nov. 19

Now, J

Nov. J **FELIX ROUSSEL” ....Nov. 4 Nov.

HAINT BLANCOUF"' ....Nov. 15 Nov. 10

..Dec. 4 "TEI HO

For passenger and freight.

Dec. 3

M

Outward Yht ****

Эврал

Homeward For

N. Africa & Europe Martellirà via Nalgon

N. Africa & Europe N. Africa & Europe

For freight to Salgon, Algiers. Ofan, Tangler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam. Acceping cargo:

-via Marsellies to all Mediterranean & West Africa Ports.

Via Djibouti to Madagascar.

#nbject To Change Without Notice.

CIE DES MEssageries MARITIMES

P.O. Box 63, Hongkong

Queen's Building (gr, floor)

EVERETT

Tel. 26651 (3 lines).

LINES

EVERETT ORIENT LINE

Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya, Burma. and Enst Coast Indian Ports.

"BRADEVERETT"

Arrives Sails

Nov. 4

from Manikt.

Nov. for

-"REBEVERETT"

Arrivos Sails

Singapore,

kungoon

S

Penang, Calcutta

Nov. 10 from Singapore.

Nov, 11 for Kobe Osaka, Yokohama

Nagoya,

(Accepiing cargo for tranaliipment Kobe/Ponan 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 Ports."

FIRST CLASS PASSENGER ACCOMMODATION M. S. "STAR ALCYONE"

Loading

Salls

Nov. 5

Nov, 0 for

Bangkok, Singapore, Colombo, Cochin, Kharram- shahr, Basrah & Bahrein,

M.S. "NORDSTJERNAN”

Arrives Salis

Nov. 10 from Japan. Nov, 20 for Singapore. Pori Swalten- ham, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basruh & Bahrein,

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

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

A New U.S.

Freighter

New York, Nov. 2.

A new and important class of

Gavanament cargo ship-the

HONGKONG

SHARE MARKET

Marines has made its debut in} !(From Our Correspondent) New York harbour to sturt operating in the arcan trades,

The first, the Keystone Mariner, arrived from the Sun Shipyards in Chester, Pennsylvania.

Thirty-four other Mariners are i in various stages of construction in seven Aanerkan shipyards.

The ships are big, fast and expensive, They are 12,910 dead-| weight tons with speeds well ove: 20 knots and the average enst is over 0.4 milion dollars.

They are said to be well advanced over other type shipa in equipment, cargo gear End hatch covers,"

Initially, the Mariners will bo ured to carry milliary cargo for the Military Sea Transpori Sor- vice-Associated Press.

Rubber Futures

In S'pore

Singapore, Nov. 1. Pricos of rubber futures closed today as follows:--- Number 1 rubber, per ib,

December

January

February an

Business done on the Stock Exchange this morning totalled

$597,715.60. Noon prices and the morning's transactions:-

10 @ 1425

1429

150

210

BILARES DOYERS SELLERS SALES

BANKS

HK Bank Enat Ali INSURANCES

Canton Tindar Underwriters SHIPPING"

Watciboat DOCKS. Erc

Asha Nav. 1 1.40

R. Wherf** ** N. Pt. Whet

Deek Providers S'hai Dock Wheelock

LAND, ETC.

HK Hotel HK Land iik Land Shat Lend Humplireys Ready

UTEITIES

2.10 2.20

Tram 20.20 20:40

B. Tram (9) B

Star Ferry

137

C. Linit (0) 0.55 9.83

7716-6 7715-30

Telephone

Number 1 rubber, December 725-1

Nimber 3 rubber, December #sj-19 Number 4 rubber, December (8íj

Foot, tulber, unbalad

inket repo

No. 1 palo crepe

64.07

Credit Due To The Conservative Government

Atlantic Payments

Union

Under Discussion

The

can

London, Nov. 1.

Security Mutual Agency Mission here said "Green the today that Benk mentioned in Ameri- reports last Press Wednesday 214 proposing some kind of Atlantic pay- mcntu union did not repre- sent the official position of the Agency.or of the United States Government.

a

But Immense Tasks Still

Lie Ahead Of

Britain

(FROM OUR OWN CORRESPONDENT)

London, Nov. 2.

A year is not long in which to rescue an economy as complex as that of Britain from a situation as dangerous as the one which faced it towards the close of 1951.

But, after 12 months in power, the Conservative Government can look back on several notable. achievements in the economie field,

A great deal remains to be done before the situation is completely restored but the immensity of the tasks ahead should not be allowed to detract from the Government's credit for the very, considerable improve- ment that has taken place since Mr Butler announced his first list of emergency measures last November.

The Government enme to power at a time when Britain was running an enormous deelt it is external balance of pay- nienis.

Between July 1951 and the of the year this defelt end amounted to £393 million, Our gold and dollar reserves were at an alarming training away currency TL object rate.

discussion I It was merely paper and materiat contained in it was how largely out of date, The Press reports described the plan as dieme for the of a surt of Atlantie creation payments union, backed by a multi-million dollar stabilisation fund.

would be to enable Atlantic in the third quarter of last to achieve a real year reserves shrunk by no less countries

They en- balance of trade with each other than $934 million,

in the Arst without the need for emergency tinued to decline

the United quarter of 1952 and at the end dollar grants from:

J March stood at $1,700 million States in Umes of crisis,

The payments salon would compared with $2,333 million at have to be backed up by real the end of 1951.

larifys

all efforts to reduse round, by an Atlantic economic beard to co-ordinate policies affecting currery relationships, commodity Allantic hard to stabilise production and prices of essential raw materials through long-term agreements, the reports said,

03

The improvement in the gold and dinilar situation dates from the second quarter of this year when the reserves fell by only $15 million. Since then they have remained move changed.

or less

Steel production was seven per cent higher between July and year earlier September than a and supplies of imported steel were three times greater in the Arst eight months of the year than in the corresponding period of 1951.

WORLD DEMAND

Coal production is also in- creasing. In the first 42 weeks of the year it was 1.3 per cent up on 1851. Coal consumption was down three per cent while exports were half as high again

In 1951.

33

ex-

have been in the mood to play for safely.

Industrial shares, however, are Tho stili largely neglected, market was depressed early in the week by a statement from a spokesman for the motor indus- try drawing attention increasing difficulties facing cor manufacture:.

to the

There has been some demand, however, for shares in stores following the recent revival of retail sales.

Copper shares Improved to- wards the end of the week on news of a good Messina dividend and also on hopes of an early improvement in the labour situa-

Kaflis were ako firmer after a dull start.

BRAZIL

By mid-October coal stocks were up 17 per cent.

Important as they are, how-tion in Rhodesia. ever, steel and coal are only

wo

sectors of Britain's ceedingly complex industrial summary of our economy. A record over the whole Beld of un-industrial production during the first half of the year shows an An even more dramatic im-improvement compared with a

carlier took place in the year provement United Kingdom's balance of aim at

payments during the first half of 1952 when Briain earned a surplus in current transactions of £24 million.

The whole scheme, according to the reports, would reddening restrictions on inter- national trade generally and would seek to bring about some sort of a managed convertibility

terms of of Sterling in. Gollar.

the

NOT OFFICIAL The Mutual Security Agency statement sied here today said: "A so-called 'Green Book' which contains various estimates, 05- sumptions and suggestions regarding the future of United States foreign assistance bas reccatly been quoted by the New York Times. This document was prepared as a discussion paper one stal suction of the Mutual Security Agency for the consideration of that and other States Goverment United ogeneics.

BV

The mission has been in formed by the Mutual Security Agency in Washington that this discussion paper has not at any time represented

the offcial position of the Mutual Security Agency or the United States

Government.

"The particular forecasts and other statistical material in the

tive and even as such are now largely out of date."

Officials ΟΙ

the

LESS ENCOURAGING

the

If recount is taken of £58 million of defence aid re-

elved from the United States during this half-year (compared with only

whale of 1051) the favourable balance amounted to £02 million.

materials, food, metals gineering, a roughly unchanged situation in vehicles, building and contracting, publle utilities and mining and quarrying, and

deeligé in most consumer goods.

TO FREE CRUZEIRO

Businessman Makos A Forecast

New York, Nov. 2.

· Brazli will create a free

#

business-

It will be seen, therefore, that the production records of these various industries corresponds roughly with their fortune. in the world export markets. exchange market for the £4 million in the Where

Cruzeiro before the end of this· world demand has!

Adhemar de Barros, сt year, as in the case of dropped away,

Brazilian consumer goods, British Indus- prominent tries have been hard hit, But

man said.. Major part of this improve where demand has been main-

nonmined, as in the case of engineer ment-four-fifths was on the good. But a less encouraging have maintained their record of Sterling account. That is all to ing products, British industries the sigu Is that Britain benefited increased production. from an improvement

In her favour terms of trade and from the effect of the im- port cuts to a far greater extent than it did from an expansion of exports.

In the

Our total imports in the first half of the yair semounted to

£1,800 million compared with 11,848 million in the previous half year and E1,046 million in the corresponding six months of 1951.

the

Exports and. re-exports, on document were entirely illustra- the other hand, showed a much

smaller improvement.

Total value of our exports In Best

six months of this year was £1,616 million compared with £ 1,405

the second half of 1957 i

Mutual Security Agency in Washington said earlier that the scheme as was caly <utlined in the Fress

planning paper a preliminary prepared five months ago. was

under discussion by oftelais of the departments con- cerned and had not yet been re- vised. Reuter.

Petroleum Production

It

La

The improvement in the terms of trade continued during the third quarter when import prices again fell faster than ex- port prices.

In

International marktons.

The new market, he added, wil be used for Imports of ducks and exports of severe about dozen essenijal pro- Brazilian raw materials which are currently not

competitive MEABURES NEEDED

in. to capital The measures needed to raise addition production are, therefore,

Among products that will be

to be bought from many cases the same as those allowed needed to expand the volume of abroad with free exchange, the Brazilian said, will be planes, our exports.

The fall in the level of pro- buses, locomotives and other duction was the subject of a goods vital to the nation's lively exchange in the House of economy, business before Parliament Commons on the last day of Such imports, he said, will was not be subjected to Government

licensing. prorogued.

This was an opportunity.... for the Opposition to draw attention to one eld in which the Goy- ernment economic policy has failed to achieve its objective.

In his Budget speech last March, Mr Butler based much of his hopes on an increase in production of three

per cent

over the level of the previous year.

Senhor. de Barros said the pro-

posed free exchange market will be used as a channel for exports of cotton, cocos, rubber and ome other materials.

This stop is expected to lead to a reduction in export prices for these commodities, since Brazilian exporters will be able 16 convert their dollar proceeds for a greater number Cruzeiros in the free markel the than at the official rate of ex- change.

of

its

Last Thursday, Mr Frederick Lee, "who once worked under SOME CONCERN

Sir Stafford Cripps when the Brazil, Senhor do Barros sald, lalter was Minister of Econo-should be able to pay Compared with the corres-

mic Affairs, reminded

the estimated $250,000,000 backtoy ponding period last year, import mic

three Government of this and asked of commercial debts to Ameri- prices

those during months fell by eight per ceut in which industries the Chan can firms within

to obtain the while export prices remained cellor expected

three per cent increase. ΑΠΟΤΟ or less unchanged, on balance a sharp drop in texto

WILL BE COMPELLED prices being offset by a rise in Sir Arthur Salter, the present the price of our metal goods Minister of Economic

Affairs, made a somewhat evasive reply, experts.

pointing out that the Chancellor had foreseen a fall in produc- tion unless we succeeded in ex- panding our exports.

was an in-

As it

New York, Nov. 2.

Result of this The daily average gross rude oil and lease condensate produc- tion in the U.S. increased 10,200 provement in our terms of trade of seven per cent compared with barrels in

werk unded the third quarter of last year the October 25. the American

and of 10 per cent compared

It turned out our export with 1981 as a whole, Petroleum Institute reported.

Ronning companies rau Recently, however, the decline prospects had worsened since

"It now

appears stills 6928,000 barrels of crude in the volume of our exports has March and

production whi for some concern, unlikely that oil dally. A year ago runs were given cause

Value of exports in the third rise as bad been hoped." 1000 1.99 8,481,000 barrels per day.

of 1952 was unfinished quarter

2574

Dospite further questions Sir Finished

and

£628 Arthur, refused to reveal what | petrol stocks totailed 120,767,000 million, compared with

measures the Government plan- barrels compared with 122,002,- million in the provious quarter.

The daily rate of exports fellned to increase both exports 000 barrels as of the previous

and production. by 13 per cent between week, and 121,189,000 barrels

quarters; since then there has year ago.

Totul estimated petrol produc-been a further small decline.

And the counterpart of this 10 22,301,000 tion amounted

cek-Associated docline of exports has been barrels last Pregs.

40

3000 44. 2.15.

20.40

100 g 20.20

0,10

Seeking A Free Copper Market

$70

(N) 0.40 0.55 200 -0,40

2321.30

17.20 17.00 600 @ 1715

TEL (RİK)....... 3.50 Ica-103 INDUSTIUALS -United Prest.

Cernent STORES, ETC.

Dairy Watson

COTTONS

Iwo....... 240

Exchange Rates

Dualnom was done in the local

unofficial exchango market

thin

morning at the following rates:-", 1.5 dollar (por $1}'

0076

Kleritus adfe, (par 21)

15.01

Indono dan guliters. (per 100) STAD

Blamicals (pår 100)

$3,70

Ringapore (Benita) •..

30.15

FIC plastres (per (100)

...... 23.49

500 6 17,00

500 17.60

203 # 330

2013.00

160 17.03 muddle

New York, Nov. 2.

the

n short time with un expansion of its exports, Senhor de Barros cafirm- ed reports that he plans to run for President ct Brazil when President Getulio Vargas term of office expires in 1934-Asso- claled Press,

NEW

OT

Japan

·Macaixar

SAILINGS

-RUYET *TJIONDOR"

**TJIBADANE"

"THANAS"

"STRAAT

MALAKEA

How

Nov. 19

Nov.

Nov.

13

Nov. 13

Nov. 19

*TEGELBENQ“ --VAN BEUTAZ”

"TJIWANGE“

"TARMAN" **TJIPANAR”

"TEGELDENG"

Nov. 21 Nov. 12

RODARRITA

Kurahala

Helawan Upll, Singapore, jakarta, Manrline 8. Attica à 8. America Гарав

Martiia, Ringapore, 15, 2-5, Attili A

B. Ameilea

Kingspora, Djakarta.

Hürabala & Macher

Japan

Dinkerta, Bemarang,

MECKLINE

Singapota, Ujakarta.

Surabats & lacassar

Remarang,

Kurabala

Bemarang,

Ringapore, Pekang & Belawan Dell Djakarta

Macarske

Semarang,

Buradair

Manila, Singapore. Diakaria. Mauritius, 8. Africa 2. Ameries Mania, Singapore 8, Africa

Dec. 2

Det.

Bor. 0

Der.

"STRAAT BOENDA" Dec. 10

*TJRJALENGKA” “TJILUWAD"

Dec. Dec.

12

TS

Sapan

Kingapore,

fice. 20

Japan

*TJINAMPER"

"BOISSRVAIN” "TJEWÄNGI”.

Dec.

31

Герад

"KUVA"

"BUYE"

"YAN BEUTAZ" *TJILUWAR*

#TJIDANTIET" "STILAAT

MAKASSAD"

· *TJIWANGI"

Djakarin,

Burabais & Macassar

DJAKHEER Semarang Agrabala

Macsavar

Hingapore,

Djakaria, Boroarang,

Surabala & Macerar

singapore,

Mauritius, M. Aftica & 8. America

Hingapore, E. & R. Allen

Ningapore,

Djakarta,

Bucabala CAKE

Semarang,

Jan.

JAIL 10 Jan. 1

•

Manila,

Djakarta.

JAD. 10

Feb. 1 Feb.

Харад

Feb. "TJITJALENORA”

PTJIMENTENG"

"BOYS"

"TJISADANE" “TJIPONDOK" *TJILUWAH"

Feb., 11

Загал

Singapore,

Djakarta.

Surabhie & niacassar

Alagapore

#jakarta,

8. Africa & S. America

Armatas

Mauritur,

Manila. Bingapore & H. Strick

ARRIVALS

From

America, S. Africa, Maucking,

見さん Port

5.

Singapore & Manila

NOT.

Japan

Nov.

ก

Japan

Nov. 12

Mirror, surabala.

Serstand.

Diskarta * Kingahare,

KING'S BUILDING, Ground Floor,

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS, 31190, 25183

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

*M.S.

M.S. "LEXA MAERSK”.

"LAURA MAERSK” M.S. "LEISE MAERSK"

Calling Vancouver

ARRIVALS FROM U.S.A.

M.S. "GRETE MAERSK” M.S.

"JEPPESEN MAERSK” M.S. "OLGA MAERSK”

Nov. B Nov. 16 Dec. 2

Nov. 19 Nov. 28

Dec. 16

For Freight and Further Particulars please apply to:-

་

AGENTS:

JERSEN

Pedder Building.

& CO.

Tel. Nos, 86086-9.

Dates and rotation mbject to change without notice.

At überty to proceed via other ports to load/discharge, cargo.

M.V. "FELIX ROUSSEL"

will sail for..

MARSEILLES

vin

MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ & PORT SAID

on

Wednesday, November 5th 1952 at 10 p.m.

Passengers are requested to board the vessel with their cabin baggage on, the 8th November between

CHAIN 5 and 9 p.m. CHAIN

OF POWER

PLANTS

Spokane, Wash., Nov. 2. American Interests are plan- ning to spend almost $2,000,- 000,000 to finance. a chuin of

Baggage rooni and hold baggage will be registered at Entrance) on the 4th November from 10 a.m. to Noon and from 2 to 5 p.m. and on the 5th November from 10 a.m. to Noon only.

the Kowloon Godown No. 50 (No. 2 Gate, Canton Road

.

No baggage will be registered ufter that time.

Canadian steam power plants to COMPAGNIE DES MESSAGERIES

But the interest taken in this matter by the Opposition and by businessmen in nearly every provide power for the United field of the export Industry States, the Spokesman-Review drop in the total industrial pro-will compel the Government to

reported last night. duction.

make its position clear on this THE FACTS

aspect of economic policy be fore the new Parliamentary session is many weeks okt.

While it is true to say that the fall in home production and the rise in unemployment would have been considerably groanjer had the Government not taken

nevertheless best

|

The project will use low-cost coal of Southwestern Alberta Queen's Building. and will send its electricity into the northwest power pool at Hungry Horse and Libby, Mont it sald. The cost of the project,

estimated at $1,300,000,000. to be built over 30 years, was The paper salt deialia were revcoled. by O. R. Angelllo, a

THE STOCK EXCHANGE The stock markets have the strong matures it did duragain been quiet this past week according to tho settled The American copper industry ing is first months of office, the and indeed,

havo opinion, has is seeking a "ree market" for Opposition metal and has asked the Gov-seized eagerly on this aspect of down to what may be a pro Los Angeles consulting engineer.

longed period of idleness.

Ho said the project'a backers for had crament to try to work a way the economic situation to try

making Ona

üssurances fon the factor

beca

tho through a multiple-price supply and embarrass Mr Butler.

un Canadian government that up to The facts of the matter are caution has

certainty as to the outcome of 10,000,000 kilowatt hours could The Industry. Is, vigorously these. 19.80 00009, JOTE

Between

and August the Americam presidential elee be genated, using Alberta's July 233 or 25.10 opposing what it calls "price

result should give many stream and huge coal 400 @ 20.00 discrimination in favour of the total Industrial production was tion. The

a positivo lend to London by deposits. Bulk of seven per cent below is level of foreign producer." 1900 @ 2.40

Ho mid 100 units in all trö clarifying the outlook, in Woll domestic copper is sold at a a year entiler.

planot, and they will bo bujit of ceiling price

24.5

cenin a In the eight months from Street

Gift-edged prices have But domestic con- January to August. It was three

year, to pound sumors have been paying 30.5 and a half per cent below, the mained cas, partly as a result the rate of two or three per (Mr Angelillo told the paper: of the Chancellor's promise.

my understandingwe cents. And the total supply of samu period of 1951.

But production in a most possible tax concessions, partly it ist metal; is: being railoned to con- Gumets on the arnals of 00 per important industries from the because Sterling strong in ought to be able to start work cent domestic and 40 per cent point of view of experts as well the world's exchange markets on the actual plants by March fortian-Associated Press, as of defenco-way still rising and partly because investors or April." Associated Press.

-Now Yark, Nov. 2. U.S. commercial and indus trial failures increased to 164 | in the week-ended Oct; 23 ̃from 130 in the preceding wrok, Dụn

Bradstreet reported.

In the

like week a year ago,casualties 11525 totalled 135-Associated Press,

MARITIMES

Tel: 26651 (3'linės)

BUSINESS REGULATION ORDINANCE 1952

.......

Copies of the prescribed

Forms (a) 1(b) and (c)

Now On Sale at S. C. M. Post, Ltd. HONGKONG, AND KOWLOON

TEN CENTS EACH