1952-11-20 — Page 9

MESSAGERIES M

"LA-MARSEILLAISE”

"FRY-HULL"

Arriving

"ST-MARCOUF"

"PEI HO"

Keeling

THE CHINA MAIL, THURSDAY, NOVEMBER 20, 1952.

Pago

MARITIMES Economic Activity In South ROYAL INTEROCEAN LINES

Ling

Dec.

23

JUL. 27

Now, 18 Nav.

Hongkop Nov. 21 Nov. 27

∙Dec.

*"LA MARBEILLAISE" ***MONKAY"

亡

Dec.

Jan. 15

Dec. 10 Jan

D

· For passenger and freight.

M

Ontward For

Yokohama & Kabe Japan

Homeward For

N. Attika & Kurope

N. Afelen & Europe Marseilles via Manlia

N. Alrica & flurope

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

Acceping cargo:

-via Morsellies to all Mediterranean & West Africa Ports, ".

vla Djibouti to Madagascar.

Bubject To Change Without Notiem.

CIE DES MESsageries MARITIMES

P.O. Box 63, Hongkong

Queen's Building' (gr, floor).

EVERETT

Tel. 20051 (3 lines).

E

LINES

EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong,

"NOREVERETT

Arrives Soils

Nov. 24 from Singapore. Nov. 25 for Kobe &

"REBEVERETT"

Arrives Sails

Dec. 8

Dec. fur

from Manila.

Singapore,

Yokohama.

3- Rangoon

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

Penang, Calenta.

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- Malaya, Colombo,. Bombay, China, Slam,

Karachi and Persian Gulf Ports.

M.S. "NORDSTJERNAN”

Arrives Sail

Nov. 22 from Japan. Nov. 23 for Singapore. Pori Swellen- bam, Madras, Colombo, Bombay, Kurnel, Kharram. shahr, Basrah & Bahrein,

M. S. "THAI”

Arrives Balls

&

Yokohama,

Noy, 24 from Singapore, Nov. 25 for Kobe

(Accepting cargo for transhipment Koha/Pusan. and Kobe/Okinawa) '

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

American Business Optimism Over Trading Prospects

New York, Nov. 19.

American businessmen apparently, do not share the fears of some of their European counterparts that the new Republican Administration may hurt world trade.

Reports from a number of trade organisations and for future individuals indicate general optimism American business beyond its borders under President- elect Dwight D. Eisenhower.

"Although opinions differ on predicted there

the effect on exports

ports,

enthusiasm

Eisenhower amand foreign Bureau. traders would Indicate

that

will be fewer

Trade Mission Africa: Improvement

From

Austria

Vienna, Nov. 10.

An Austrian

economic

mission to the For East left today for Philippines,

Burma, the Indo-China

and Singapore,

wilt

The mission. endeavour to find markets for Austrian goods in those countries, Since the tid of World War II, trade between Austria and the Far East has been precile ally nit-France-Presse.

American Salesmen Confer

New York, Nov, 10. Foreign traders American salesmen who sell everything from razor blades to oli refining equipment in the far corners of the earthaired their mutual complaints yesterday at the 39th National Foreign Trade Conven

tion.

They tulitedi about lock of transport, bandit-infested roads. inferior

hotels, anti-foreign laws, discriminatory curbs on private business and burdensome currency restrictions, all adding up to a salesman's night-

mare.

But, they agreed, penetration of foreign markets by American enterprise is at its highest peaks in history.

television

•

Unlikely Until 1953

Johannesburg.

The slackening in economie activity during

the past 15 months has produced a mood of saber reflection in South Africa. Nobody has any great expectations of a marked improvement in the business situation, at any rate, until after the next General Election,

On the other hand, competent observers of the economic scene have a suspicion that the gloomier forecasts of the Immediate economic outlook must be a little exaggerated.

The present economic situation is the aftermath of the boom, which followed the devaluation of the South African pound in September, 1949, and the increase in world commodity prices after the outbreak of the Korean

war.

The spectacular rise in wool, Constructional activity, again, base metal and other commodity | has shown

unmistakable about a sharp tendency to sag from the high prices brought increase in the earnings of South levels attained last year. Africa's During 1950,

export

industries. These economie roadjustments for example, the would ordinarily have been re- volue gold) amounted to £252m, an to

(other than garded as a of exports

healthy transition more stable level of increase of £95m. over the economie activity provions year. During 1931 Unfortunately, they have taken export earnings rose by a further place in a

unfavourable most £Dim. to £343m.

political climate.

The intensification of party politieal strife, which hups reached a new phase, has un- doubtedly accentuated the mood of hesitation of the business and investing classes.

В

Never

flows from

the

Cotton Industry Guaranteed

Caira Nov. 19,"

The Egyptian Govern- ment has gone off it “limik" in sarcoing la raisa the woaranive to the cottona F£55,000,000, Miniser tipelli EI kald today. The guaranice COVERE Lost's to Farmers UR LA ER $5,000,000 Bid kana by rolfors expors fense qua to EÈ 10.000.000.

The Minlater mid the guaranice #1 the beginning of the season aimed ensuring to the Earpilan market slability in Keeping with world prices--Beater.

General Slackness

In Wool

Boston, Nov. 19. A temporary general inck- ness in wool domand hai now hit the market, according to the Commercial Bulletin.

*The worstod business has givça no clear evidence of ac- cumulating from the civilian- side

the outlook on defence account remains uncertain.

Asking prices for all kinds of spot wool are held frm distributors.

by

The phenomenal growth in export Incomes had far-reaching effects on prices, Incomes and the level of economic activity During the year 1950-51 nct national income at factor cost rose

or by 10 per to £1,070m.

19HUES AT STAKE This in cent. Th growth in incomes

Their anxiety Commercial

monetary in part Southeast Asin in about

to the con- clear understanding that what is two phenomenon,

due to

is not merely Never at stake rise u pitços. years was predicted by Walter Linued B. Schleiter, vice-president of theless, this period also witnessed principles on the basis of which Dayton, Price and Co., New substantial expansion in the the Union of South Africa came

but York.

mbring, manufacturing, agricul- into being.

the existing system of

em of Government. turni, transportation, poor Fes The present hesitation of the

constructional industries,

one case, recent quota- owing to the renewed influx of industrial and business com-

tions for territory wool ad- or take funds from abroad, the greater munity to go forward availability of mortgage facili- risks has become more marked tedly appear rather too high,

because of hdifference neon signs, lies and cosier credit conditions. since the Government introduced buyers to the class.

That is in deal with the half-bloods, with demand is measure lo "constitutional crisis."

This und

ported running chledy to other

political and medium wools, Half-blood manoeuvres for electoral advant-

has sold for $1.50 clean and a age are causing grave disquiet in

Union. the

quotations from range of Nobody

that under- ostimates their impact on

price to $1.55 is suggested -to- dny. racial

already situation

Recent business in good ane by the Government's

territory. оп д

scala, moderate Legistation.

has been done largely between present this is symbolised by a

$1.65 and $1.70, clean basis. campaign to "defy unjust laws."

are "Domestic ficece wools There is also general concern

parcel of a general at their effects on the confidence

slackening

in demand Since of the oversees fivestar.

over the past week and a balf or so. Prices 1947 more than half the Union's

are steady in a divifion pretly well sold.

601d financed by borrowing

astment programme has been abroad.

"Somewhere in Asia," he love the meeting, "every known method of sales promotion except TV is bong or has been used." Ho mentioned window displays, buldoor billboards, throw-aways, postcards, tele- phone directories, match boxes, stalls at fairs and film shorts.

Thailand, he said, is far in of the South Asiatke advance

In countries development of Ceylon has broken television,

Introduced with tradition und radio commercials.

Last year the value of building plans passed in the major urban areas, for example, amounted to some £74m. compared with

252m. in the previous year,

RECORD IMPORTS

The expansion in money in-gra theid

a

ag-

At

and economic activity "But the printed word, parti- comes cularly the newspaper," he de- generated extravagant oplimiam clared, "Is still the backbone of regarding business prospects.

This led, us result of more sales promotion in Asia,"

Protectionist

liberal issue of permita, to in

part and restrictions,

und frontier creased imports and, therefore, archale customs regulations are among the chief again to increased incomes f

rapidly expand- those hindrances of

connected With

trade.

the value

record

from

ing international air transport shipping and transport. During of imports Industry,

vice-1851 J. L. Weller,

of level president of Trans World Air- reached

During the first six months of linos Inc.,

asserted. Associated £470m. compared with £307m. this year, the net inflow of funds

in 1950 Red £315m. in 1948.

was, of course, neither sensible nor Inteligent to believe that incomes and activity could grow at a progressive rate. There

Press.

HONGKONG SHARE MARKET

core

re- fine

"Pulled wools have continued to show a fair demand, at firm prices, though not at the top of

Our ranges as a rule. from all sources amounted to

"in a port week, interrupted about 40m, an increase of some

Armistice Day. We found 15 £ 15m. compared with

they

little or nothing to roport be- almost half this amount appears noted in domestic wools. There corresponding period of 1951; yond

the scattered business to be due to arrangements

Was

doubt # Curther root wool

scoured-foreign wools to woollen mills, such as 50.50s type at $1.17 a little greasy New Zealand clean.".... Associated Press.

was always a

expansion, obstacles to continued expar

to the constitutional such as the growing shortage of crisis for financing mining and minnpower and the incapacity of uranium developments the railways, power industries as the loan expenditure of the ag-well and other public services to

Government and other pubile keep pace with proving

authorities.

AL

mands.

There were also the

de-

It is not the argument of this article that the Union's economy

по

·

slipping into a slump. On the The Rubber

contrary, economie cumulating difficulties associated

activity is

(From Our Correspondent) with the inancing of working

Business done on the Stock stocks and replacement of wor sit at a high level, while the

rices the slender basis ed to $600,350.20 Noon and the morning's trans-boomlet actions:-

Exchange this morning amount-out plant and machinery. Indeed, continuation of large publle and

KHARES BUYERS SELLERS SALES

INSURANCES

BANKS

Ink Bank... 1413 East Asia

1435

715

5.50

140

12

Underwriters

K Fire...

SHIPPING

Waterbent

of the 1950-31 became Increasingly

spending will prevent obvious after the sharp break any sharp or sudden setback. in world commodity prices in the return to more settled political What is required, however, is part of Carly

last year, which began to reflect itself in the de-conditions and a renewal of con- fidence. Then, Indeed, the clining value of exports.

DECLINING RESERVES

future would hold out to the

citizens. of South Africa # promise of economic expansion, which could dwarf the achieve- ments of the post-The Finan- apiounted fetal Times,

During the first seven months of the current year the value of merchandise exports

to about £195m. or some 8 per cont less than the amount earned during the corresponding period 1 of 1951.

Asin Nav1.30 500 @ 1.45 DOCKS, LTC' K. Wharf

90 0214 100 003 N. . Wharf

1000 Dock... 20.8021.30 1000 & 20,90

12.00

73 17.50 Provident

1.43 5' Dick

BI Wheelock XD

3 1400 @ 550

700 1

2001

LAND, ETC

K Hole) **

0.58

ik La

Kic Land

(N)

A

07

Bhial Land 1.30

Humphreys. 13.30 13.00 Really UTILITIES

Train

At the same time, the value of Imports remained at almost the same level as in the first seven months of the previous

year! The. Increase in the Union's

LONDON TIN MARKET

London, Nov. 10. The tin market was steady

trade deficit (excluding gold) this morning, Turnover was 75 during the current year has led toos including five tons cash.

10

to

Markets

Singapore, Nov. 10. today as follows

Prices of rubber futures closed

Number 1 rubber, per lb.

December

January

February

801-4 0645-12

Number 2 rubber, December 024-33 Number 3 rubber, December 79-193 Number 4 rubber, December 10-761 Spot rubber, unbaled

8815-37. Blanket crepe

74-76 100-111 United Presa. LONDON MARKET

No. I pale crepe ...........

London, Nov. 19. Prices of rubber fútures closed today, as followɛ- Number 1 zubber.

per 1b.in pence

December

Jamiary/March Apgl/June July7September

2422-23

2424-25

2415-31

24-2414

United Press.

a further decline in the prices closed at the end of New York Sugar

country's gold and foreign ex-official morning Bession as change reserves.

follows:

Despite an Indow of foreign spot tin, buyers 2.321 .40 11000 2.35 funds of almost £120m, since 500 tilfar

the beginning of 1951, exchange Fusiness done at

Three-months. tin. buyers 043 declined during Three-months Up, ...... 20.70 20.90 800 20.00

sellers 04714 110020.40 holdings have

05:54 300 20.89 this period by about 30 per cent Business done Star Ferry

£110m. This fall in Bettlement

-United Press Lign (0) 9.70 0.75 2809 @ 9.700

bod On 200-68 9 exchange reserves 0500 9.73 9379 9.79 decline

In the "cash"! of the comTA- demerical banks,

what U.S. foreign trade policy changes in tariff rates than under

Incoming previous Republican administra will be under the Republican Administration and tions. "Tariffs will be closely and im- tied in with the desire for greater Mr world co-operation," said the for

TWO-WAY STREET there is little fear of a return to Mr Eisenhower has acknow- any form of isolationistic pro- ledged that trade is "a two-way tectionism," the Commerce and street," and that "wo must ac- Industry Association of Newcrpt in imports the things that York sald.

are going to pay for the exports The Association predicted the we want and vice versa."

Congress may scrutinise Most traders appear confident American trade agreements, but the new President will shun any added:

moves toward Isolationism "Most foreign traders. ap-high-tarif protectionism,

Some business circles cite a that whatever parently believe

there contrary views

may be growing awareness that America. three hard among Republican members of must accept and of

ut choices: She must import more; Cement 10,30 3500. 20,30 Congress, the international out- leoit of Mr Eisenhower, as the or export less, or subsidise other a.. leader whose personal triumph in countries by the election brought the Party dollars necessary to purchase

new

book into power,

or

by giving them

the

114

C. Liga (N) 0.40, 0.30

Electric...... 23 23.10 833

INDUSTRIALS

23

193123

1 20.10

Dalry. 19.40 Wilson 31.20 25.00, 400 a 25.30 will prevail now

American

1. Crawford 31

80 33 products.

trend The

COTTONS Is way from the fatter

Ewe

2.30 The Association has urged

3000 6 $30 MISCELLANEOUS a liberal two choices and toward the Drst. Congress to provide

Yonglee Some foreign trade policy that will

Importers bellove there avold a destructive trade war of is a good chance the new Con- retaliation

with other countries. См

reas will pass the customs alm- The organisation noted that five plification bill which has been nations the Netherlands, Den-shelved in Congress for the lost mark, Austrails, New Zealand two years, and Canada-have claimed la--

Another proposal would create fury, because of United States an American court of claims" compensate American

to some

counterpart in

arid

reault has been a growing stringency in the money credit markets, which has been reinforced by a policy of credit Contraction. and a sharp rise in interest rates.

Compensation Discussions

Landon, Nov, 19. British and Creek negotiators. ота opened discussions today SPENDING RESTRAINT - compensation for shareholders of

Lako the British-owned Dearer money, restricted loan Copats Company, to be taken facilities, the continued rise in ever by the Greek Government domestic costs and prices, on December 1, larger supply of goods in the The talks had been postponed

JAPANESE BONDS shops, and the uncertain trend until after the Greek elections

In world commodity prices, have inevitably had a restraining in 89% ucnse on spending, In consumer

there has

to allow the Greek mission to socure definite instructions from the new Govermapen k

Futures

New York, Nov. 19. World sugar futures closed

| unchanged to 2 higher with

sales totaling 18 contracts.

Contract No, & closed 1 tower. to 2 higher with sales totalling 38 contracts.

Contract No. 4 (World)

“THEANAI" “TEURLIKHEN, "VAN BRUTEZA

"CHWANGI"

"TARMAN" "TJIFANAS"

"TEGILDERRY".

Hor Nor.

SAILINGš

Jes. Z

-Dee, 10.

A

"STRAAT SOENDA” Dre. 10 *THLUWAM"

"TITIALENOSA".

*RU¥**........

“KAMA MZEK”

IMRARMAN'

***IWANGI"

"ZZIDODAS? -

NU

YVAN BEUTAZ” SEJAK UWAU",

SEJUJANTIETH "TASMANS

"EKONDOE"

Dec. 10

pir. 13

Ro

Deo. **

霜甜:

Dre.

喜我鹉。

•

10

Jan.

"STRAAT

KARABIARA PEIKTAJLENGKA”. TRALMENTENG". ***INUMAN"

"BOIBARVAIN”

3

H

P

*TUPANJE"

“VAN BEUTEZ” "THMANGP'

IA Port

Nox. #

Nov.

"TASMAN"

Dec.

Зарад

Macaviar

· Ruzakala

Bingapore. Dinkaria: Semarang

Horabala & Macassar

Sirgaubre.. Fenaan & Belawan. Unli Djakater

Bingla Bingapore, MaUYUZON,

"5," "Atties & £. Amartes Singapore, B. Abies & B. Afries SUZEKYOTO, 'Djakasta, ・・・ Bemarang,

Barabaia di "Macassar

Japan

Djakarta,

Macassar

JADAR

Japas

Batarang,

Bukabala

Singapore, Ujskaria. SORTADE.

Surabaja ♣ "Margrier,

Djakarta, Bemarade, . SurabaÍR

Mfaransar

Manila, 8ingapore. Djakarta.

Martins, 6, Africa à A. Araries Aingapore, E. & §. Aftica

Singapore,

Djakaria,

Burabata & "Hachisar

Japan

Bemarang

Ningapore. Penang & Belawan Dell

Djakarta Semarang, Surabais

Магаздат

Singapore, Diskaria.

Barabala & Mast

Гарад

Bemarang

Bingapore, DJakarta, Misgrilius,

A. Africa 8. America

Manila, Singapore & §. Africa

Bingapore, Djakarta,

Bemarang,

Burabata & Macassar Manila, Singapore, Djakarta

Mauritius

B. America

ARRIVALS

From

Africa

E. & 4. Africa, Mauritius, Ringapore

& Djakarin Japan

Mfacasar, Surabala. SenatARE.

DJakarta Singapore

Japan

KING'S BUILDING, Ground Floor

TEL. 28015/18,

CHINESE AGENTS; 82 CONNAUGHT RD, C. TELS. 33190, 25133.

MAERSK LINE

VAST FORTNIGDTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, VIA SAN FRANCISCO. LOS ANGELES AND PANAMA. NEXT SAILINGS

*M.S. "LAURA MAERSK❞ M.S. "LEISE MAERSK” M.S. "GRETE MAERSK"

↓

In Port Buoy Ab

Dec. .Dec...10

8

Calling Vancouver

ARRIVALS FROM U.S.A.

M.S. "JEPPESEN MAERSK”

M.S. "OLGA MAERSK”

M.S. "HULDA MAERSK”

Nov. 28

Dec. 18

Jan. 3

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building,

Tel, Nos, 30060-9.

Dalgs and rotation subject to change, without notice,

At liberty to proceed via quer ports to load/flacharya CATED

PENINSULAR

EPARABIT

& ORIENTAL

STEAM NAVIGATION COMPANY

R.M.S. "CORFU"

SAILS:

NOTICE-TO-PASSENGERS

BAGGAGE:

SPECIAL NOTE:

3.80 nominal EMBARKATION:

3.69 3.00 bid

3,72 bid

3.75 nomina)

January

May Ju September October January

Contract No..

January March May Jiny Beptember November

$.48 nominal

5.33

0.47

$.60

8.75 bid

6.60 nominal

0.00

-United Press.

Exchange Rates

hil

London, Nov. 19. Japanese bonds,

Busorry we done, to the focal "A" (45. of 1899)

soofiele "B" (da of 1010) · · 781⁄2

exchange. ? market The legal adviser to the Namoralag at the folowing tales: (59. of 1007) 1974 been a marked weakening in tonal Bank of Croco, Nicoipes juks. coli (par 31)

prices, notably to textiles and Ghungie, Leads the, oficial Greek Stering Hole (per ei). "D" (53, of ; 1994): 100 International Statistical producers for losses sustained The

Clothing, though, some reversal delegation. The company owns Bureau also sold the trade through larger imports, rather

1930) 160. "E" (0% of

00% structure may be studied closely than curtalling this trade through

-United Press. by the new Administration, but higher tariffs-Associated Press.

import restrictions,

-to

Consols

in this trend appears to be 20,000 hectares of land north- taking place at the present time. west of Athens--Router,

15.51 Indonarlara gulidays (pet 100) -87.50

towa 200) Singapore (Birmity) FIC plastres (per 100)

19.1%

FRIDAY the 21st November at 12.00 Noon for the UNITED KINGDOM via Straits, Colombo, Hombay, Aden and Port Said.

ALI. passengers baggage must be sent to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE" by · NOON on THURSDAY the 20th November, 1962.

With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading board by ship's slings only. BAGGAGE COOLIES WILL BE REFUSED ADMITTANCE TO. THE WHARF.

on

Will take place FRIDAY, the 21st NOVEMBER 1952 between P.80 a.m. and 11.00 a.m. ́·

BUSINESS REGULATION ORDINANCE 1952.

Copies of the prescribed Forms (a) 1(b) and 1(c)

Now On Sale at 5. C. M. Post, Ltd. HONGKONG AND KOWLOON

TEN CENTS EACH