1952-11-12 — Page 9

MESSAGERIES

M

Arriving

"PEI 30",

"LA MARSEILLAISE”, Mr.

TFALAISE"

MARITIMES

Lasting

Nor. 14

Nov. 14 Dec. 3

Nov.

M

Outward for

Japan

Yokohama & Kobe;

Homeward For

Nov. 14

N. Africa & Europe

"ST-MARCOUF") Keelung Nov. 11 Nay, 17 >N, Africa & Karopa

Hongkong Nov, 12 Nov, 20 .[ ***FEI HO"

...Dec. + Dec.

N. Africa & Europe "LA MARSEILLAISE" Jico. 55 Dec. 16 Marseilles via Maslia

•

For passenger and freight.

For freight to Saigon, Marseilles, Algiers, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.

Accepting curgo:

-vla Marseilles to all Mediterranean & West Africa Forts, -vla Djibouti to Madagascar,

Bobject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

Tel. 26651 (8 lines).

EVERETTE

LINES

EVERETT ORIENT LÉNE

Fast regulur freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong,

"NOREVERETT”

Arrives Soile

from Singapore.. Nov. 24 Nov. 25 for

"REBEVERETT"

Arrives Sails

Kobe A Yokohama,

Dec. 9 from Manila, Dec. 10 for Singapore,

A Rangoon

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

EVERETT STAR

Penang, Calculta.

LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombe, Bombay, Karachi and Persian Gulf Ports.

M. S. “STAR ALCYONE”

Loading Sails

Arrives

Salts

Nov. 12

Noy, 13 for Bangkok, Colombo, Kharramshahr, Cochin, Basrah & Bahrein.

M.S. "NORDSTJERNAN”

Nov. 21 from Japan, Nov. 22 for Singapore, Port Sweiten- ham, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Busrah & Bahrein,

(Accepting cargo for. Iranshipment Kobe/Pusan and Kobe/Okinawa)

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

Farmers Advised To Hold Cotton Off The Market

Lubbock, Nov. 11. Farmers were advised yesterday by a U. S. Re- presentative to hold their cotton off the market instead of selling it at current prices.

However,

THE CHINA MAIL, WEDNESDAY, NOVEMBER 12, 1952.

Many Indications Of Increasing

Economic Stability:

World Rice Situation

Singapore, Nov. 11. The world rice Яtuation In 1953 might not be quite so difficult as this year, as export availabilities were expreted to be higher next the International Ilice Consultative Com- mittee declared today.

Rice experis and officials from 21 countries, and two United Nations bodles, concluded a

la two-day review

at the fifth meeling of the Committee today.

They noted with satis- faction the evidence of Improved rice cultivation in s number of countries considerable capital and ontlay in agriculture,

Increased exports from

Burma Slam,

and the United Slater have pre- vented serious railoning in many defelt countries, the experts added.-Reuter.

MALAYA'S FUTURE

Sterling's Opportunity

London.

Present international difficulties in trade exchanges have produced a group of pessimists as well as optimists, both of whom, paradoxically enough, may have to revise their views if existing trends and near-future situations are studied,

The idea that we are on the verge of a prolonged depression, similar in intensity and duration to the 1980's, is at variance with signs of increasing and increased economic stability in the leading countries.

It is also at variance with the stimulus which the long-term rearmament programmes are giving to production, especially in the heavy and mechanical indus- tries.

There is also the suggestion that the present phase of com. parative stagnation, accompanied by balance of payments difficul- ties and fallures to close the dollar gay, is due to a lemporary bul, perhaps, easily surmount- able lack of balance between the demand for and the supply of goods.

Industrialisation is gaining ground in some countries which hitherto have been considered essentially agricultural.

between Britain and the Com- opportunity for domestle enter- monwealth on the one hand, with prise, but when these sources of the adherence of the 18 E.P.U. supply, disappeared local entre- countries, and with

saw their these proneurs not only Mich

as a market bat Central potentially

and own country South American Republies.

also began thinking about the The desirability of greater rest of Latin America in terms contacts by Britain with Latin of foreign trade. By 1944, so America is urged in the second successful had this industrialisa- of a series of surveys issued by tlon become that 27 per cent of the Credit Insurance Association, all Latin-American imports were and entitled "Latin America-the from within Latin America

Itself. Outlook for British Exports."

SPECIAL LINKS ·

Prospects Discussed the fortunate position of being out that Britain has special links

Manchester, Nov. 11. Malaya's future

MAY hang precariously on the results of the forthcoming conference of the Interna tional Rubber Study Group, the Manchester Guardian said today.

Some of these countries are in

able to supply from within their borders the raw materials for their own industrialisation.

This changeover has resulted in a lack of exports of agricul- with which to tural products secure foreign currency necessary

to

means of development,

complete the mechanical

has

in Overseas

But Lalin America has encountered major stumbling At the outset the survey points blocks on the road, to in- dustrialisation, most of which with this important trading area have been caused by shortages. which has a population of 150 There is a shortage of electric million, ranging from 53 million power facilities, with consump in Brasil to 800,000 in Costa Rica tien already reaching levels that and in Panama, These links the planners had set for 1980.

There is are second only.

shortage of road to those buill

and rail transport, of investment rallways Latin-American

We were the capital and, above all, a short- chief carriers of its goods, and

age of skilled and experienced

public utilities.

trade with Latin America,

and

and

The area has a national in-out reducing the exports of com-

taxation, is making it in-and in the war-devastated areas { from overstas.

creasingly hard to pay for the ex- fancied police force, Home Guard units and local regiments which are carrying on the struggle, the Manchester Editorial said.

suppliers.

we provided the capital for workers in relation to the people EFFECT ON SHIPPING

economic development. Notwith- as a whole. Rural

standing these ties of old com- depopulation

Argentina are The Liberal paper submitted

will. Brazil that although intensified mill-followed and accentuated the mercial friendship there has been facing the dilemma of how to and - steady deterioration in British Industrialise, using mancy. tary and police operations had diMculties in national made life more dificult for ter-ternational economics. There

resources and manpower, with- rorists in Maloya, things were has been an adverse reaction on

come of $150 per head, compared modities that provide theyc not going so well in other fields shipping.

livelihood. their of action.

Growing Improvement in the with $1,400 in the United States nations with

and nearly $800 in the United The dilemma Is especially acute in the price of supply of goods rubber, reducing revenue from countries at one time agricultura: Kingdom. The population is of in Argentian, which has tried to mixed national origins, chiefly forge ahead too rapidly and

Such foreign

suffered from losing its position has lessened the need to import from those nations which, until residents, and their descendunts, as one of the world's greatest

were their main have an important influence on agricultural recently.

foreign trade. The foreign gaining compmable advantages colonies from Europe and Asia for its economy. are much Guardian

greater then those nose

MAIN CONCLUSIONS from the United Kingdom and the. United States. For instance,

... trade treaties recently concluded sidered the premises set out in All these factors may be con- and Brazil with by Argentina of several thousands of Italian to the conclusions it renches. Italy provide for the settlement Insurance Association leading up families in agriculture und in Some of the most important Industry with joint government The currency universally ac-financial aid.

arc

(a) There is a rich future in cepted today in the world's

Sixteen per cent of Argentina's the market. Britain exchanges of goods is the dollar

is losing is foreign-born, of ground in the face of fierce com- population (the US. dollar paramountly); whom 1,000,000

are Italians, petition from the United States. the currency of a highly tariff 913,000 Spaniards, 124.000 Poles. Germany and olher European protected country.

and 200,000 Gemmans. Time was when sterling was is at present negotiating for the

Bolivia countries. currency. the leading world

"Such little information on social and economic progress as has been made availabic - dicates that the targets set are

not being reached.

"Another serious consequence in the fall of the price of rub-• ber is the recent cut in the wages of 300,000 rubber work-

ers.

"The local trade unions con- tend that the inflated cost of living, resulting from last year's boom, has hot, yet come down

to

Added to this is the growing and emergence of Germany Japan from Industrial stagnation

active world

competition. Again, there have come about

in

and Imparts economic obstacles preventing the frog transfer of currency from one area to another.

cuts

other

the

ROYAL INTEROCEAN LINES

"RUTS" "TJIKARÍPEK“

SAILING B

Japin

Mania, Mingapuré, 1. d ́H, Afelon de

N. America

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Burzhala Marasar

Japan

Ujakarta. Nerang,· Burabala

Macauar

Singapore.

Djakarta. Šeintang,

Murabbia de Macassar

Singapore, Penang & Belawan Dell

Semarang, BUTALGIA

Singapore,

•

Djantária,

Atauritian, M. Africa & S. America Ringapore, & 8. Africa

X[ng:DĐT, Djakarta, Semarang.

Barabala & MACARIAT

Japan.

+

Djakarta, Semarang, Sorabala

**TIPANAS" "TRAAT

MALAKKA

Nav.

Nov.

“TJJLUWATE"

Nay.

14

"IEGELAURG" "VAN HIEUTSZ"

Nov. 20 Nov. 23

"TJIVANGI"

*TARMAN"

"TIPANAS"

Dec.

2

tree. [ Dec.

jakarin

ARCALLE

"TEOELBERO“

Ber

D

Manila,

"STRAAT SOENDA" "Dec.

"TITJALENGKA"

Des.

**TIILUWAN"

10

13. Bec, 18

Japan

tire. Bec. 23

Dre.. 25 SPOC. 29 her. 37

20

Тарла Japati Japan

Jani 2

"TZIDODAS”

"BUTE"

Jan,

7

Jen

*VAN HƐUTSZ“ *TJILUWANE”

"TJIDANTJET"

"TUWANGI"

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Jan. 10 10 Jan.

Jan. 10 Feb,

Hingapore/

Заран

Z

Singapore,

MAKASSAR' "THT?LENGKA”

"TJIMENTENG" »THUWAU

Feb.

PFD.

"BOIBBEVAIN" "TARMAN" "TIMENTENO" "NIWANGI“

"THLUWAN"

"TJIPANAS"

"STRAAT

MALAKKA“

"KUYS"

Macpscar

Remarang.

Semarang

•Mauritiar,

Feb. 11

Feb. 15

Hingapurr, DJAKAZEN, Semarang,

Surabala & blackkiar BJakarta SERATANK, Surabala

Anchar

Alantia, Hingapore, Djakarta,

Stattritis, 8. Afries & 8. Ämteries Angapore, E. & 8. Afrie

Ujakarta,

Buradain & Stacunsar

Djalaria,

Surabala & "Muenssar

Japan

Bingapore, BJakarta,

6. Africa & S. America Kiania, Singapore & 8. Africa Hingapore.. Iljakarta. Semarang,

Norahain & Maranar

ARRIVALS

Маслахаг.

From

Suradale, Semarang, Djakuria Bingapore 1.& 8. Atrica, Mauritius, Singaporn

Djakarta

Port

Nav.. 14

Nov. 18

Japan

Nov. 17

Гарди

KING'S BUILDING, Ground Floor.

TEL, 28015/18.

CHINESE AGENTS; 82 CONNAUGHT RD. C. TELS, 31196, 25133

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

*22

nations without

*M.S.

"LAURA MAERSK”

Nov. 18

M.S.

"LEISE MAERSK!

Dec.

M.S.

"GRETE MAERSK”

Dec. 16

"Calling Vancouver

ARRIVALS FROM U.S.A.

M.S.

"GRETE MAERSK"

Nov, 18

MS.

"JEPPESEN MAERSK”

Dec. 1

M.S.

"OLGA MAERSK”

Dec. 17

survey of

the

Credit

(b) Government and industry

and that reduced wages would There was then never any talk | nigration of 200,000 Germans must do some hard thinking and

bring serious hardships," Manchester Guardian pointed

out.

LITTLE DOUBT

"There is evidence some rubber concerns ing to use the harder

trade unionism.

or any

gup" the of a "stering

suggestion that a "shortage of sterling" a particular area or country wis hampering the flow of world trade

too that are try-

times to

BRITISH DOMINANCE

was

of this schome

ing

of factories.

and

industrial comprising

decide on their future policy, to ogricultural workers. The object decide whether to maintain our

that the migrants will assist in the build-position or abandon it to others. (e) Our balance of payments for consumer

mer position does not permit us to goods, the heavy machinery for make large-scale investment nor

exported from grant lavish measures of

credit. Germany. Today there are more Wherever possible we must sell

in markets for prompt cash.

(d) Britain's position Commonwealth has to be con-

which will be

cotton

3970

in the

3271

RIVALS' METHODS

A -(c)

detailed study of American and German methods

At that time Britain main-than 200,000 Japanese settled in obstruct the growth of healthy tained free trade and provided Brazil as specialists in market in which the debtor and and rice growing. "Rubber workers' living quar-goods and

countries could dispose of their

sidered when rearmament gives Year in,

́ ́ PRINCIPÁL EXPORTERS services. iers on some plantations have

way to the Colombo Plan and WAY Britain sent out a been put out of bounds to trade year out,

The United States, the United other measures. Latin America of investments to the then flow union organisers.

the Kingdom and Germany are the ond the Commonwealth clash in under-developed countries, the chief exporters, to Latin America. that both are in the process of "There Is little doubt that United States well as Aus-

and require the sooner or later Malayan estate workers will insist on the right tralin, Canada as well as India. Last year the United States ox-development

Our trade

to the value of same types of goods from us, and goods merely not to live independently of such

million,

the

United both would require financing by surveillance by the employers, bilateral in its daily reckoning; Kingdom $457 million (January. Britain to ensure the latter's ex-

it was more than triangular the paper predicted.

upon some countries to-June, 1052, exports were $240.2 ports being attained.

which

million). "While labour relations de-

Germany and day frown, it was multi-lateral, mill teriorate on the rubber estates, and sterling was

$270 France exported the world's million. the picture in the rice fields foremost medium for current in-

million, Scandinavia $200 million, does not look bright.

the Benelux ternational payments.

countries "Declining Malayan revenue

Above all, at that time, the million, and Italy 8141 million. might show many ways in which

The will not make it easier to im-

motor-car Industry Is a Industry's salesmanship could be by pressing on Treasuries prove matters with agricultural advice and ald. departments were not cluttered popular form of direct investment helped by more positive aid.

as an impetus to Imports into

(f) More attention should be "In a few weeks the Inter-with bureaucrats studying wall

some of the Latin American and barometers, and

pald to trade treaties and barter national Rubber Study Group

*** countries) The

Italian

Fint deals as used by our competitors building a necessitating} Company

as a means of developing their can be paper changes, nee

plant in Mexico at a cost of sales. Britain's negotiations Government and changes in

$34.7 million to produce 1,000 have not been firm enough to which are today the bane

an Italian-Brazilion firm has competitors. in world trade. free exchanges Restriction, not expansion, of een organised to produce molor-

(g) Credit insurance cover by of cycles and delivery vans. Another the Export Credit Guarantee De- trade would seem to be these Italian firm is building Д 917 bureaucrats' sole stock-in-trade, million plant to produce viscose,partment should be reviewed by as evidenced by the proceedings thread,

those firms which are not already the with the aid of

charts

and the commerce

is to meet to confer how the pointing with dithering fingers to * Company is how world price of rubber stallised.

"Malaya's future may hang policies leading only to tangled čosal trucks a year in Brazil| exact the same concessions as our

results of precariously on the this conference," the Manchester Guardian commented-Reuter.

MISSION'S REPORT

"If farmers will join in a programme of keeping cotton off the market, and give it full co-operation, the cotton market will improve considerably," said Repre- sentative Thomas G. Abernethy (Democrat-Mississippi.) "Cotton is in good relation to carry-over of textiles has dis-

Ho continued, "We appeared.

cald domestic supply," he

rates, can't get hurt badly by the pro-consumption, at present grumme and We can pront should use about 9,500,000 tales greatly. Personally, I think it this coming year.

he added, exports will work."

Rop. Abernethy is Chairman are down somewhat and stocks of a Cotton Subcommittee of the have been built up in foreign House Agriculture Committee. countries. Foreign staple, com- Cotton is selling currently at parable to U.S. cotton, is taking 31 to 33 cents a pound.

some of the market, T. S. Oliver, New Deal, TeXDE,

"If the Department of Agricul. ginner, told the group le be ture figures are minimum, Chen loved that many farmere sold the carry-over will be less," Mr Mr D. T. Waring. President cotton because they believed the

said. About 10,000,000 of the F. M. S. Chamber of market might drop badly after bales of cotton had been ginned Mines, would not say anything November 4.

that Testimony

3,000,000 bales have been gold, Pecos

are dhing

Marvin Rhodes, Director possible to hold cotton off the the Cotton Branch

of the Pro-

in

banks everything

Archio

Dean

Kuala Lumpur, Nov, 11. Malayan Un producers greet- ed with jubilation today the publication of the United States in mission's report on Malays, But leaders of the Industry in Kuala Lumpur were cautious in commenting.

of

at the present session at Geneva Mexican Government and inves using these facilities.

of the General Agreement on Tarifs and Trade

(G.AT.T.) Covenants solemnly accepted between the contracting parties, have been broken, with levity it would seem, by restrictions of

and by Imports and exports

batacles in the transfer or the acceptance of

In currencies

by October 30, but only about on the report until he had re-payment of goods,

ceived

a

A

the

الله

copy.

The

tora,

Its Colombia the

resour

(h) Lack of energy on the part of Brita:D'A salesman and lack of

French to detalls art not ac-

For Freight and Further Particulars please apply to:-

1

AGENTS:

JERSEN

Pedder Building.

& CO.

Tel. Nos, 36066-9.

Dates and rotation 'aubject to change without notice. At-liberty-to-proceed-via-elkér -paris- to; load/discharge -cargo,

HONGKONG SHARE MARKET

(From Our Correspondant)

The Rubber

Markets

Singapore, Nov. 11,

rubber futurea

Prices of

closed today as follows:-

Number 1 rubber, per .

-December

January

February

December

December

Business done on the Stock Number rubber Exchange this morning was Number 3 rubber.

valued at $408,427,80. Noon prices and the morning's quota-Number 4 rubber,

December tions:

Spot, rubber, unbaled Blanket. crepe SHANES BUTÉRS SELLERS BALES No. i pale crepe BANKS

HK Bank East Asia

INSURANCES

Conton Union HI Fire

1410 150

50. 180

135 140

1.40

6.70

74-74-14

70-2014

7814-44

08-09

102-107

United Press.

LONDON MARKET

London, Nov. 11, The rubber markt was quiet today. Prices closed today, 18 follows:-

| Number 1 rubber, in pence

per lb.

December

| January/March

April/Jime

2115 "200 @ 21.40 July/September

.. 12.00 12.50

SHIPPING

Waterboat Asia Nav DOCKS, ETC. K. Whurt Dock Prov.dent Bhai Dock Wheelock Hongkow LAND, ETC.

HK Hotel HK Land (0)

1.00

2000 ₫ 1.00

Đà 61% 1200 G BỊ 21%

1000 25

United Pres

BD.50 1000 LONDON TIN

(N) 58 Shai Land 1.30

Humphrys 13.20

UTILITIES

500 505

2000 1.30

TERM....... 20.10 20.38 2700 es 70.20 Star Yerry

118

MARKET

London, Nov. 11, The Un market was steady C. Lim (0) 9.03 9.30. 00006 9.30 this morning. Turtiover was 40

C. Light N). 8.55

Electric

22.80 3.10 5000 tons Including 20 ions for cash. 1080 in 12.80 | Prices closed at the end of the

Macro Elect, 10.20

Telephone. 17.30 $715200₫ 11.30 INDUSTRIALS

take the

Cement

Hope

STORES.

Dairy Watson Sinceres COTTONS

19 18.20

19.90

1000 20

10.30

25,10

183 837-

afficiat morning session follows:

Spet in buyers.

Spot tin, sallora

Busines done of

300.10 Three-montar un, buyer

190 Three-tnonthe, in, sellers.

Bose done at Bettlement

Renault Company is to assemble as reasons for failure to the Latin American to its production.

markcle more penetratingly motor-cars, and may add tractors invade

French manufacturers have British industry has made great etablished three chemical plants post-war progress in the face in Brazil to produce a synthetic of severe handicaps and Geree textile yarn from local materials, competition, In Peru, two French firms are

(3) In spite of our economic OVERSHADOWED

With the Peruvian difficulties we should former representative of

on a newsprint long view; wo must consider tin industry in the Federal

session present

of plant, which will use local timber Latin America not only in terms market ww given by

cannot duction and Marketing Adminis Legislative Council, Mr K. H. GATT.

resolve any ↑ PM

A $10 million iron of 1953 but also of 1903, Scott, a Peces banker.

because the and tration, said that

being erectedLiverpool Journal of Commiren. plant The reason atton is not

about 850,000 to satisfactory to learn that the member nations know that the in Poru by French Interests going into the (Government) pen have but ginnings in this Cummings, said it was very i worthwhile 'action

The Commonwealth loan is because the banks don't 700,000 bales and that a signif-report had at last been released meeting of

Prime Ministers in London this. After the Peruvians had failed to

interest U.S. financing. have the personnel to do it," he cant amount of the cotton has to the public.

14been soldAssociated Press.

had plainly month "Tho report cold.

IMPORTANT INFLUENCE rebuffed all those who sought to deliberation rahadowing

-The agenda for that meeting discredit the wrellent record, of

-Tokyo, Nov., 11/ sub- been prepared and

One of

the most significant the tin-mining industry," he said, has

Sover Thai exports who Exchange Rates -Router.

mitted for consideration to the economic influences to Lalin

industrial Inspect Japancso participating Commonwealth Amerten during impetus vento activities arrived here today for countries.

War was the

to a fortnight's stay. Among the Although details have not been industrialization by the closing, group, were Maj. Gen. Banyap

or limiting of former, sources published, I may well be that or

For Gepihaslin, Home Affairs New York, Nov. 11. the agende will foclude some Imports. While it great in Minister, and Lt-Gen. Laung All markets were closed today; general reference to Latindustrial powers were vieint Sumbin Viwat, Agriculture- Associated Associated America and the possibilities of with one another for anles to Forestry Minlater, Armistice Day) Press

greater interchange of trade Latin America there was utile Press.

"When balton is in the loon there in three times as much rai

tape," he added.

NO CARRY-OVER

Japan Paying Up

Stockholm, Nov. 11.

Similar opinions · were w pressed by Herman Miller, Japan has shipped to Sweden Chairman of the California 385 kilograms of gold, worth U.S. Markets Closed State Production, Marketing Ad- about 2,000,000 crowns,; as part ministratiu. ...”.

payment of compensation which.

John Dean, Deputy Director Japan had agreed to pay for of the Production and Marketing Swedish property seized turing Administration, tertified that the the war-United Press.

+

their

די

14

Mission To Japan

234, 2.30 8000 @ § 2.30 6.10 0000 ## 335

MISCELLANEOUS

Yanglaze

this

8,003

Business was done in the local Unofficial exchange marketi morning at the following, roles; ****.. 1,8. dollar (per 813-year

Sterling riote iper. 211 2 Indonesian gullars (per 100) Siam ticals (per 200)| Singapore (Straile)

FIC plastres (per: 100)

RS

·JAPANESE 'BONDS

London, Nov. 11. Japanese bonds. “

"A" (48," of 1890) 80 "B" (4%) of 1910) C (59 of 1907). "D" (Ga of 1934)

***E (8748 of 1030) Consols

74% 136

101% 150

00-9/18 -United Press.