1952-12-22 — Page 9

MESSAGERIES M

"FRY-HILL"

*"MONKAY"

"BREST""

Arriving

THE CHINA MAIL, MONDAY, DECEMBER 1952.

MARITIMES ANGLO-AMERICAN TALKS MFollowing Up The Commonwealth Conference

Leaving

-Jan. 24

Jan. 23

Jan. * ....Feb.

Jan, *

Frb. 10 Fels, 15

*"LA MARSEILLAINE". Feb. 12

•For passenger and freight.

Outward For

Зарап

Homeward Por

N. Africa & Europe N. Airlea & Europe Marolles via Manila

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

Accepting cargo!

-via Marscles to all Mediterranean & West Africa Ports. -vla Djibouti to Madagasent.

Subject To Change Withal 'Batler,

CIE DES MESSAGERIES, MARITIMES

P.O. Box 63, Hongkong

Queen's Building (gr. floor)

EVERETT

E

Tel. 20651 (3 Ines).

LINES

EVERETT ORIENT LINE Fast 1egular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.

"LENEVERETT"

Arrives Sails

Dec, 22 from Singapore.

Dec.23 Kobe,. 'Irohata, Yawato,

Osuka & Kobe.

"NOREVERETT".

Arrives Solis

Dee, 25 from Manila,

Dee. 20 for

Singapore,

& Rangoon

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

Penang, Calcutta,

EVERETT STAR LINE

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

M. S. "THAI”

Arrives Dec. 22 from Japan.

Sails

Dec, 23

·

for Singapore, Fort Swetten- hum, Madras, Colombo, Bonibay, Karachi, Khurram- shahr, Baerah & Bahrein,

M.S. "STAR BETELGÉUSE”

Arriver Salts

Dcc. 30 from Singapore, Dec. 31

for Kobe & Yakoljama

(Accepting cargo for transhipment Kobe/Puran and Kobn/Okinawa)

EVERETT STEAMSHIP CORPORATION 5/A Quoon's Building, Tolophona 31206, Chinese Department: Tolophonė 28293.

Textile

Markets

Review

New York. Dec. 21.

Activity in the basic textil

BRIGHTER

Sharp Decline. Forecast In

U.S. Wheat Crop

·Washfugton, Dec. 31. The Agriculture Depart ment

forecast today

winter drought-hit 1953 wheat crop of 811,141.000 busheis, down sharply from this year's near re- cord output.

The first official forecast on next year's crop cam- pares will this year's erop of 1,052,801,000 bushels, the second largest on re- card, and a 10-year aver- ase production of 700,079,- 000 bushels.

Winter wheat, planted in Autuma before the the harvest year, normally, ne- counts for the bulk of the fofal wheat crop. Plani. Laik Astunin lugs

were hard hit by the drought In practically every Winter

State wheat-producing United Fre59.

British Capital In Mexico

Request For More Investment

Mexico City, Dec. 21. The Mexican Government has asked Britain to in. crease its capital invest- ments and exports to Mexico subject to national laws.

Need For Return To More Liberal Trade Polices

(FROM OUR OWN CORRESPONDENT)

London, Dec, 21.

Reports from Westminster during the week that Mr Churchill, Mr Eden and Mr Butler are to go to Washington at the end of February or the beginning of March caused little surprise...

It had long been known that the United Kingdom, Government proposed to follow up the Commonwealth Economic Conference with a direct approach to the new United States Administration for help in achieving its long-term economic ‘objectives."

These forthcoming talks, however, will not be confined to Anglo- American problems.

Mr Churchill, Mr Eden and Mr Butler will go to Washing: loy as representatives of all the Sterling Commonwealth coun- tries ond

United not of the Kingdom alone,

This agreed during the Commonwealth Prime Ministers conference, und we have it on the authority of Mr Eden that the decision presented no prob Icm,

Was

Locking ahead there can be. Ittle doubt that the Common-

aerienn

talks will

the realisation.. that

The terms were United

favourably States "cannot simultaneously received but the markets (res replace trade with aid and pro- | mained quiet throughout the lect QVLTY American product week. from foreign competition

If this bellot finds expression in Mr Elsonhower's foreign economic polley the task of the | Commonwealth representatives will be greatly eased,

U.S. TARIFFS

Earlier a further block of coal-cfook 311⁄2 per cent Treptury 1977/80'was issued at 87%. The issue, was larger than expected

82 million-but the Govern ment support enabled recipients' of the stock to sell it at little or no loss on the issua price.

Mic forthcoming

ROYAL INTEROCEAN LINES

*T JIMENTENG "TASMAN" "TJWAŊGI" {"BUYE" "

"THIBODAS"

VAN NEUTRE”

*TASBIAN"

TJILUWAN* **

"TJITJALENGKA"

"TJIPONDOK"

"THBANTJE”

TUWANGI"

*TASMAN" “STRAAT E.

MAKASHAR". "TJIKAMPEE" →TJILUWAJ"

"TIMENTEN(" "POISSKVAIN”

BAILING'

FAR. 73

13

"Kobe" "E 'Yokohama

Yokohama, Yokkaichi, * Nagoya

Itobe

* Japan -

KIRTADOCO, VIPjakarta | BomAIDE,

Skurthala á Mičesar BANUA, MingADQUO;:_Djakarta, Je MauritanKZarrita di B. Amariex

Djakarta Tomarang; Buradala

nell,

Singapore, Penang.. Belawan,

Reunión &. 13. E. Africa Singapore, l'enang ́Ar Welawan Deli

· Eingapore, Djakarta, Bemarang.

Svirakita #DERGAMA?

Bine Dore, Jakarta, Atkurtiins,

8. Affini di 6. America Djakarta Semarang. Burabala

Aucassar.

Zapen

Blagapore, Djakarta.

Surahsia & Macaria

Гараа

Japan

Sectatant

Jakarta. Semarang," Sorabata,

h

Singapore, Djakarta, Beniarang,

Burabala & Micaiar

Manila, Singapore, $i, &' 8. Africa Bingapore Djakarta, 65auritus,

B. Afera & 8. America

Djakarta. Bemarang, Kurakala

Macassar

&

Kingapore, Penang & Belawan Dell Singapore, Jakarta, БЕТАГО,

Sutabili & Mincantar

“TJIHANTIRT"

TASMANT *THWANOF'

"STRAAT SOENDA" Mar.

4

Japan

"TJBADANENS

Japan

#THLUWAJ!"

Singapore,

**TASMAN" 1'STRAAT

НАКЛЯНА" "THWANGI"

2.

"TJIMENTENG"

Anglo-BOISSEVAIN

· BRIGHT SPOTS Institutional investors are said

For one of the subjects they- are most anxious to discuss Iranian issue has had its effcct on the problems of with the new President Is the on the gill-edged morket.

world trade mutilitatoral

of American tariffs | and question Sterling convertibility.

which many people-in the On both these outstanding | Urited Slater as well as clae- issuer the Commonwealth Prime where-belleve to be 100 high Ministers have stressed the need for so strong a creditor country,

However, doncerted

a reduction of Bot American tariffs would affect the basic dollar problem. The result has been a small AS much as some observers 40cline in, güit-edged prices. seem to bellove.

for

action.

International

The Commonwealth mission's terms of reference were clearly defined

.the communique iqued after the London Econo.. mie Conference.

In

to be withholding their support while intending stags have been raising application money.

The Industrini'section has also The American commission was experiencort quiet conditions. frank on this point; even a total

Bustiers wa EVERY REASON

mainly selective, bolition of American tariffs, "The aim,"

It was stressed, pointed out, would still leave and some store shares reached new peaks on nows of better "Fis to secure

International vegans of the dollar = $aP | retail tendặng. - on the adoption of agreement policies by the creditar and

debtor countries which will re- primgh the commission was '

The British trade ralesion, headed by Brigadier-General Wconomy on H. Crossland, has been con-

dueling discussions here with official and private Mexican bankers to strengthen Anglo-

Mexican trade relations.

The British experts were told that certain possibilities exist for the establishinent of a payments twe between the twe agreement countries which would 'overcomi

the trade obstacle of dellar shortage by liquidating balance differences very six months..

He

Only other

In bright spot the markets was in gold shares which went ahead on buying from the Cape and Paris.

concerned with stere the balance in world European problems" much of its the lines of trade i report will be read with interest net ald,' and will by progres in the outer Commonwealth.

The Financial Times' Index sive

stages and within a reason. And It will be noted with able time create

of gold share effective particular satisfaction that many points on the week. an

prices rose 2,20 nullateral trade and payments of its recommendations paralles

the widest those of the Commonwealth lower selling prices

Rubber_shares eased on the for the commodity while @ tevorec movement in the recent auction prices for ten caused an upturn in tea shares which have re- cently experienced something of a slump.

covering systent possible area." There is

every reason to belleve that an approach to the United States on those terms will be favourably received.,

has

Prime Ministera.

EYE TO EYE

It points out for example that the defeit countries must adopt juternal financial stabilisation measures that deal adequately with inflation.

The phrase "trude not aid, coined by the Chancellor of the Exchequer, Mr Butler, in A moment of Inspiration seized the imagination of many

There is no difference here between the Americans and the businessmen and Amerisin

Commonwealth leaders who economists and greally pleased

for "internal the need stressed Amenean taxpayers. But the obverse of aid is economic policies designed to

and this side of the curb inflation."

the question of at- American investment,

General Crossland emphosisond Britain's Interest in moving trade with Mexico. that in the past Britain had not given the Latin American market the attention it

it deserved trade but since

all

trado

agreements would result in mutual beneßt.

He added, "Undoubtedly we committed errors In the past with because of our conceiti political and national problems, but conditions have changed."

A SYNONYM

train, on

Premiers

only

large pool of investment capital

of World War equation has not proved quite so Uie end of I she was anxious to conciule Popular with American pout the American commission and

which tions,

the Commonwealth Alistair Cooke, reporting from | Te

has underlined see eye to

The commission pointed out Washington, their problem-in-a-despatch-to

that A the "Manchester Guardian,"

had the America

available and It would, go to "The idea of 'trade not aid," countries which offered poli- he writes, "was gratefully retical and economic stability and ceived by Mr Eisenhower and "the most attractive passibili- Governor Stevenson during the ties." He said that Britain

The commission's report also leads in the production of Jet-election campaign since it cx-

administration warned that American investors propelled -aircraft, textile cused any new

the unpopular polley of should not be expected to enter machinery and other specialities from

among other. and added that his mission to give-away ald' or, as it is more countries which,

Into

CAPITAL WANTED

now

PROSPECTS Mexles would be followed by ribaldly known, Pouring money things, prohibit the conversion

+

FOR TIN?

Bangkok. Dec. 21.

in The Bangkok Post markels come to a gradual halt editorial says the

an

Ein prospects this past week as traders looked for Thailand and Malaya look ahead to the year-end holidays. bright es a result of nationalia-

In cotton goods, print cloth tion of the yarn fabries for quick and near-dustry?

by delivery received

Wie bert

others that would seek an in-down drain, crease in sales of specific arti-

their cornings back

PROFITS TRANSFER

"But neither candidate cared dollars." to beat the drum for the 'trade" Mexican economials who par-end, especially in regions whose have been hit or ticipated in the discussions xug-Industries

tion from Europe.

Lesied that British capital invest might be hit by, freer competitezence for its part recognised in new business that would pro- Trade not ald'

Cess Mexico's row. materials.

Jaws per 49 to fi per synonym for hard times in the the United States, could maka to

non-

The Commonwealth con-

important contribution may sound the

which investors outside y explained that Mexico'silke healthy evangelism in Sterling Area, particularly in the belt but it sudżęstą a the investment of cotton Bolivian in In- foreign

development ond of Massachusella economnle .cent ratio national capital, textile areas

that "every effort should The paper expects a decrease They said that the mining in and the Carolinas,

to create conditions "Consequently, Mr Eisen-be call but twills and osaaburgh in Bolivian production with con-

dustry provided excellent oppor-end the Governor were which would encourage tuch sequent Higher prices fur

tunities for the investment of lapsed in the dullness,

content to hope for an exten-investment." -The local cotton goods' trade Southeast Asian lin.

British capital,

Glon of the reciprocal trado

United Kingdom 'Govern- "It is feared that in the in-

which will suspend business from noon

removed come, upstar objection to

moreover, of a quick

agreemonta profit on on Christmas Eve until Monday terests

the better nationalisation only morning.

that." it go at the

The American problem is Investments in Britain and the areas of low-grade ore. left un- worked," the Post said.

clear; but it is equally clear Colonies by deciding to permit

the transfer officials take

that

ara so long as there

prents "American

"across Grey goods producers and decidedly pessimistic view of

creditor countries there will be

the exchanges,” finished goods distributors were rece

points on are other And so long debter countries. prospects

tho keeping a close watch on retail Government auspices.

which

Commonwealth the gullerween them is as sales of soft goods as a clue to

wide.

now leaders and the American com- of

which The usome 1 estimato

from the mission are in full agreement. future buying plans

separates, America dellverter or tin concentrates in

example, In

both have re knitting

For cotton yarns,

rest of the world, multilateral 11933 has already been reduced counts received the best call,

trade will remain a meaning- although volume was dropping 30 per cent and ometals of tho

less phros0 Texas smelter, built to taco

on impossible dream. low-grade Bolivian ore, profess

ENCOURAGING.

Year-end inventory considera- mines will be operated, and the used in the Mexican textle in for renewal next year, and let anty of profits on rioitar

tions also handicapped the activity.

off gradually late in the week.

odded.

under

When the economists sald that 80 per cent of the equipment dustry, was antiquated, members of the British trade mission in dicated that they could supply textile machinery at prices 30 to cent lower than other 40 pr Bolivinn

countries-United Press,

Weaving yarn sales continued serious concern about future on the dull side with prices supplies only about one-fifth of softening as raw cotton futures the world's tin production," it continued to work lower. "

Hard Abres were inactive. Hemp

quotations were. un changed to a trife lower, halling the previous two-week, rise.— United Press.

Rubber

Futures In S'pore

Singapore, Dec. 20. Prices of rubber futures closed today as follows:--- .. Number 1 rubber,

per ib. January February

'March -Number 2: rubber,

January arter Number rubber, -

Запояту Number 4 rubber,"

January Spot rubber, unbated Hanket orepa No;. 1. palo Crops

2016-1

The American-owned paper states the American fear

that foreign technicians will not remain in Bolivia and that the Bolivian Government muy change mining methods for the worse-Associated Press.

Trading In Jute. Futures Banned

Calcutta.. Dec. 21. The West Bengal Government Har bannod futures trading in jute. goods under the tèrms of the West Bongal Jute Goods

Act.

The ban, announced today and to take effect immediately, was necessitated saith to have been

un 7614-771% by Increasitig market

certainties and to have been Issued in the hope of stabilising "the arket--United" Press. ***

110-115

Malayans Gain In Income

Bangkok, Dec. 21, The per capila real, income in Malaya and Ceylon showed marked increases outbreak of the Korean

after

the

a

There

af

and convertibilitysed the need to encourago;

-

MARKET DISCUSSION

to

П

London, Dec. 21.. The stocks markets

сте closing the year with the usual wespread discussion what sort of shares are likely to yield most

the profits in coming 12 months.

Last year, there was general

bonda agreement that would pay handsomely, And few weeks ago there was talke

This year, up to of gold shares being the most promising, but the Common- wealth Conference has some- what deflated the hopes of higher gold price..

Furthermore, every

time and Paris have started London an

South Africa 1125 cruelly come in as a seller. So the "golds".

seem out.

a

On the whole, British In- dustrials seem the most popular for 1933. They have come through. ‚ the year's - minor trado setbacks with dividends 12n- changed even when profits had been lower.

ut

Oils were active but only two

them showed real, strength. Royal Dutch, rose 1 to £30/2 Anglo-Iranian rose $/ad. and

**TASMAN" "TJIWANGI"

Dje kurta, Semarang.

Surabala Macassar

JaDan

Bingapore, E. &. Africa

Sinxapore, Dakarti. Remarang,

Borabala & Macanuar

ARRIVALS-

Dec. 21

•

Dec. 23

PIC. *1

Dec.

29

From

E, Africa, hauritius, Djzkarta

Singapore

8. América, B. Atries, Mauritius,

Singapore & Manila

Penang, Belawan Dell

Stacker,

Hurabais,

Djakarta & Singapore

KING'S BUILDING, Ground Floor

Singapore

Semarang

TEL. 28016/18.

CIÍINESE AGENTS: 82 CONNAUGHT RD. C. TELS, 31196, 25133.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S..."GRETE MAERSK"--.- 'If Port Buoy A10 *M.S. "JEPPESEN MÄERSK”

M.S. "OLGA MAERSK"

* CALLING

VANCOUVER

ARRIVALS FROM U.S.A.

M.S. "HULDA MAERSK”

M.S.TREIN MAERSK”

M.S. "NICOLINE MAERSK”

Jan. 2

Jan. 18

Dec. 31

Feb. 4 Feb. 15

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN &

Pedder Building.

& CO.

Tel. Nos, 360G6-9.

Rains and rotation rybject in change without notice.

is liberty to proceed via other ports to 1984/discharge cargo,

HONGKONG

SHARE MARKET

(From Que Correspondent)

Buriners done on the Stock Exchange this morning amounted to $182,870.80. Noon quotations and the morning's transactions:→→→ SHARES DUYERS SELLERS FALES.

on talk of a higher dividend. Shell however, was unchanged. Japanese 1930's rose 3/- to £102. Others were Irregularly higher or lower by the shilling DANKS

or less-United Press.

Nickel

•

Situation

Reviewed

BOVClantons are likely"; ta | International Ser

war,mendeșt a more constructive ap- i pou

Bpring.

ments.

Internal saving as a Copper Clin, Ontario, Dec, 23. means

of

The Western world's produc... financing develop, ment · progTAMIN CE,

flon of: nickel, though" rising, A wide

measure of agro-still falls short of the quantity, It is encouraging, therefore, ment already exists, therefore, that would allow governments to read that a group of pro- between the Commonwealth to build up large, stockplies, De minent American businessmen

and

chairman of the the experts Thompson, and economists have seen tha

Nickel whose inlacy in the present system of influence the future course of Canada, reported today, ing

Company of "aid without into and com-American foreign oconomic * De Thompson, commenting in a year-end review on reports of the quarterly bulletin of the preath, to the problem of the

this should go along a nickel. shortage, pointed out Economic

Asis Commission for

doller, gupobie

way towards ensuring the sun that for some time nickel alloca- and the Far: East

statel.

recommendation was com

the Commonwealth tions to countries had been in. The latest issue of the his bulletin sald Burma, Japan, the by President Truman and cons migation to Washington next excess of their defence require- Philippines and Thailand were sting of four Government

Dr Thompson

son said, the 1052 countries

which ex-exopornisis, two businessmen THE STOCK EXCHANGE -- highlights of the industry were other co periencki

In national and the United States Secretary gains

accelerated expansion of existing of Commerce, Mr Charles. It has been an extremely production facilities and the incathe in 1950 and 19 Sawyer, which viated European | Hulet win; the Stock Ex• l'advent of new and potentia!

Malaya Ceylon and. succeeded in lifting annual countries to report the change. The approach of the producem.

of 1948-49 economic situation there. Christmas holidays has naturally Ho estimated the Western lucomes in

Bernis

conclusions-havo now played a part in this but otherworld's nickel output would be purchasing power above US$100 per head of the population,been published and there will factors have been at work too,

100, approximately 333,000,000 lbs. This compared with Ussain undoubtedly have

Soviet Unions US$403. Auence ort the foreign economie Iranian debenture irruey were

Dr. Thompson end the egren for: France, USI$70 for Aus policies of the new United not announced until after the

how deposits of nickól was traila, UB4713 for the United States Administration, alone on Wednesday aft Kingdom and US$1,483, for The sound tense of the com-made for quiet conditions balapus of an imprece the United States, the bullcun mision report is nowhere during the first three days of dented rate throughput saldssociated Press,

more apparent than in its business.

{| world-Itautor,

T

this year, compared with 295, 900,000 lbs. In 1051, 2

HK Bank SHIPPING

Asa Nav

... 1415

pi

DOCKS, ETC, K. Where N. Pt. Whart Provident 11.00 13

(New) 6.10 “Whestock.

(Rust

LAND, ETC.

10 or 1410

500149

8888

SEAF

551 100.0 63

HIC Hotel HFC Land

7.70 7.55

HK Land

S'ha atid

1311

ÚTLITIES

Tram

Stár Ferry C. Light

Inight. (N) 0.16

-117

1000 (a 23,30 1000 5 22.40

1000.

9.35

Telephone

10,20 (Ris) 4.10

INDUSTRIALS

Cement Hope STORES,

Dairy: Watsons

COTTONS

Iwo

10.00 19.10

Trade Pacts Extended

· Bonni,' Dec. '21, East and West Germany nye agreed to prolong t the end of next Match two trade agreements, due to capire on December 21.

The agreements, con- cluded on May 5 and August 1, provided for an exchange of 251,000,000 marks (about "£21.750,000) warth of gooils in each direction.

West Germany has been sending finished; products In from, steel, rubber, chemicals, leather and wood in exchange for agricultural produce, including põlatõe# and grain, Lostlites, oil products and chemicals - Keulch.

PI Publicity Campaign

Manila, Dec. 21.

The Philippines will soon 4.00 laimch a world-wide publicity. » 415 campaign for her handteraft

produels.

20.20 20.00, 500 (vy 20.30

Santiago

of.

de la Cruz, General Manager of the Price Stabilisation Corporation, (PRISCO) Government ency responsible for develop- ament local cottage industries roturned recently from n tour of business centres In the U. S.. Turope and South Amerien. Ho deplored

the lack

of publicity. for Philippine products.

Exchange Rates

Business;, was 'dpaye,, in the ions) [N unamcial exchange. maining at The Collowing Talentman US dollar (par $19 Kierling note -(per-21) indonesian gulder per

le Couz sak the Gov Do la

osing local products by attractive 1963 uxhibitions, in department stores 1130 at over the world, and in, tourist TV agency display rooms. A 350m 11. Clated Pross