1952-12-30 — Page 9

MESSAGERIES

MARITIMES

M

Arriving

Jan.

"FRY-HILL”

MONKAY"

+"BREST""

Jan.

Kabschfung Jan

Leaving

Jan. 24

M

Outward For

Inpat

Homeward For

N. Arrira & Europe

endung

Jan.

Jan. 1

9

1 Feb. 10

N. Africa & Euroje

Jangkong Jan. 9 Jan.

PULA MARSEILLAISË". Feb. 12 Feb. 15

For passenger and freight..

Marseilles via Manila

† For freight to Saigon, Marseilles, Algiers, Tangier, Casablanco,

•

Havre, Dunkirk, Antwerp & Rotterdam.

Accepting cargo:

-vin Marseilles to all Mediterranean & West Africa Ports.

-vlu Djibouti to, Madagascar.

Bubject To Change Without Notice,

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Ilongkong

Queen's Building (gr. floor)

EVERETT

Tel. 26851 (3 lines).

E

LINES

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

"BRADEVERETT"

Arrives Salts

Der. 31 from Singapore. Dec. 31

"LENEVERETT"

Arrives Salls

for Kobe & Yokohama

Jan. 14 from Manila, Jan. 15 for

Penang,

Singapore, Rangoon & Calcutta,

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

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. “STAR ARCTURUS“

Arrives Solls

ย Jan.

from Japan.

Jon, 9. for Singapore, Port Swellen- bars, Madras, Colombo, Bombay, Karuch), Kharram- shahr, Bosrah & Bahrein,

M.S. "STAR BETELGEUSE”

Jan. 22 from Japan. Jan. 23

Arrives Sais

for Singapore, Port Swetten- hun. Madras, Colondo Bombay, Karachi, Khurran. shahr, Basrah & Bahrein.

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

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

The Rubber

Markets

Singapore, Dec. 20.

Prices of rubber futures closed

today as follows-

Number & rubber, per 10.

- January

February

March...

Number 2 rubber, januty Nissher B rubber, January Feber 4 wubber, January Spol rubber, unbated Tiket rrepe

No. 1 pale repu

DEL-12K

4744- BI 80Like 023-24

10-12

111-120 United Press. LONDON MARKET

London, Dec. 29. The market was quiet today. Prices closed as follows:-- Number rubber,

in pence per ib.

February

March....

Apet1/June July/September

2012-1

CEYLON

EXPLAINS

DEAL

Colombo, Dec. 29. Ceylon charged today that she had been forced to conclude a rice and rubber barter deal with Communist China,because the United States failed to assist the Island's food shortage problem.

Sir Oliver Goonetilleke, Cey lon's Food Minister, told the Planters' Association that on

visit recent

to the

United States he inforined the Secrc- 2016-ary of State, Mr Dean Acheson, of the grave food crisis facing Ceylan and warned that if im- Uned PresS, mediate aristanco were not NEW YORK MARKET given Ceylon would havɑ to Inok

elsewhere for elee, New York, Dec. 29. Prices of rubber futures

Sir Olivér sald that Mr closed 40 lowor fös higher withi

Acheson's roply Avan sales totalling eight contracts.

by no 31,00-31.40

means satisfactory and that ivas the reason why Ceylon 29.33 nominal turned to China for rice.

Ho described the

March May July September

March

Spol

December

*3.0.3

28.03

24,45

23.47

31.75

+

----United Press.

T THE CHINA MAIL, TUESDAY, DECEMBER 30, 1952.

Record Note Issue

Tokyo, Dec, 20'

The currency issue of the Bank of Japan on Satur- day hit an all-time high amounting to X010.508,- 000,000.

J

This represented à Jumb of more than 22,000,000.- 000 from the preceding

lay.

Bank

authorities

pre- dicted that the. amount would reach Y040.000,060,- 000 on December 30.

Advances also soared -by nearly 14,000,000,000 10 reach Y268.314,000,000 an Saturday.

France-Presse,

HONGKONG SHARE

MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning semounted to $179,755, Neon quotations and the morning's transactions:-

SHARES BUYERS SELLERA SALES

BANKS

JK Bank. 1410

INSURANCES

101420

Unkn. 7920 000 30 705 Underwriters

SHIPPING

Warbont Asia Nav.

DOCKS, ETC. K. Whart

1360

1.40 1.50

петь

45

... 13.10

#00

N. Pt. Wharf Provident

Provident

17134.3

S'hal Dock. 1.35

Wheeluck

Wheelock

FRts... 11 60

LAND, FIX" IIK fotel

.. 760 7.00 3000 m 13; 1000 or 7.89

S'hat Land. 11:30

UTILITIES

Team

23.10 2240 300 12.30

P. Tram 101 34 Star Ferry

117

CL 1 9.33 9.50 3000 m 1,45

C. Light (N) 629 8.30 1000

Electric ..... 23.50 23 20

Telephone ... 19

INDUSTRIALS

Comment

STORES, ETC.

Dalry

Wation

COTTONS

Ewo

G

In 10.40 200 20.40

10.10 640 a 20.00 050 2014

19.80 10.10 1000 « IN

000 @ 24,

3000 2.20

MISCELLANEOUS

Yangtsre ... 5.10 as 1000

U.S. Federal

Reserve Statement

Opponents Of Tariff Treaty Disappointed

By

Premiers' Decision

BY A CORRESPONDENT)

London, Dec. 17.

The Commonwealth Economic Conference has been a keen, dis- appointment to those in Britain who advocate the strengthening of Im- perial préférences and the repudiation of the General Agreement on Tariffs and Trade (GATT).

The Prime Ministers firmly rejected the notion of the Common- The Commonwealth coun: wealth as "a discriminatory economic bloc.". tries, they said, look outward to co-operation with other countries, not inward to a closed association.

It was their common purpose, by their own efforts and together with others, to increase world trade for the mutual benefit of all peoples.

HD

Having adopted this course, thorough examination of all the the Conference could hardly then possible repercussions of her ac- accept the United Kingdom'a cession before full membership proposal that all Commonwealth is granted. countries should Join in secking In fact, the inevitability of release from the "no, new pre- Japan's ultimate. re-entry into ference" rule which, as members world trade 4 0 full-fledged of GATT. they have agreed to member of GATT was probably observe.

the

main reason for the British The

proposal was nevertheless Government's anxiety to

which re-examination of the "most- supported by Australia, Bus strong political as well as favoured nation" clause in economic reasons for wishing to threat" of Japanese competition GATT. For it is still the strengthen Imperial preferences,

the other

HC

İron Ore Find In Canada

had

Into the

ROYAL INTEROCEAN LINES

151-4 STASMANNI

"TJIWANGI"

Jan.

2

"RUT!"

Jan.

"TJUODAS"

Jan.

8

"VAN HEUT82-

Jan.

10

"TASMAN"

**TIILUWAI

Jan.. 13 Jan, 10

Jan,

"TIPONDOK"

“TJUDANTJET "TJIWANGI

TARMANI "EOISSEYAIN" "STHAAT

4

LAMIŞLAR. BABAJA

Kingidornato DJSHAY{A}** Gemiatang,

durabata & Macassar

Atablia,

Sincapota, jakarta, Mauriling, B. Africa À R. America. Djakasi-Bemarang, Surabhia

Singapores y Penang, Belawan, feil,

hu Rèunphy « BRB Atrial per Bingsparo, Penang, & Ustaveni. Dėl Bingapore, UJARAT

Sethafa Gurabala & Nagavar *dingspor, Djakarta, 22

8.Africa B. Amerien ·

23

Jan. 23 Feb. Σ

Feb,

Feb,

Feb. 1

Feb.

Feb. $D

Feb. 19

MAKARBARA "TJIHAMPER"

TJILUWAN"

TIMENTENG

"UGISSEVAIN"

*TJIDANTJET"

"TASMAN” "STRAAT SOENDA" Feb. **TJIWANGI

"TJIBODAS"

"TIJADANE” "TJLUWAR"

**TASMAN" "STRAAT

"་ ན བ སྟ ཨཱ བལ

Feb. 22

Feb.

13

Feb. £5

26

Вежата. Butabal

Bracassar

Japah

Slogapore. *Djakarta, Semarang

Surabala & NAGISAT

JADAN Japan

Japan

Djakarta,

SEMATARE

Kingapore.

Marktage

Surabala

Djakaria, Semarang.

Burabala & Macaklar

Manita. Blaganare. H. & H. Afclea

H. America

Singapors,

Bjakarta, Mauriti

8.Africk & 8. Amezlea. jakarta. Semarang, Burada A

Macassar

A

Singapore, Penang & Belawan Delf Japan

Singapore, Djakarta. Semarang.

Burabala & Maca312P

blac,

Mar.

D

Djakarta.

Kemarang,

Machar

blar.

Japan

Alar.

14

Singapore.

Surabala & Marsiar

Mar. 17

Зард

Singapore Djakarta,

MAKASBAR" Mar. 22

"THWANGI“

"TARMAN" "IJIWANG?

"RUYS". “TJIBODA

Apr.

2

Surabala

یک

Djakaria, Semarang,

Mauentins,

Semarang,

8. Africa & 8. America

Singapore. Djakarta,

Surabala de Sarasar

ARRIVALS

From

Penang. Belawan Dell & Kingapore Macassar,

Burabala, Semarang,

In Port Part

Djakarta & Hingapure

Jan.

Japan

Ja,

Japan

TEL. 28015/18.

CHINESE AGENTS; 82 CONNAUGHT RD, C, TELS, 31100, 25135.

Quebec City, Dic, 29, and the Colonial territories, that Britisht industrialists fear

The American Industrialist, which have close economic ties

Cyrus Eaton announced today with the United Kingdom,

Strong political pressure would that his geologists, aided by 100 But

members

found mulli- of the undoubtedly be brought to bear Eskimos, Commonwealth opposed it on the on any Beltish Government million-ton iron cre deposits grounds that "such an approach which appeared to expose do- Dround Ungava Bay, 750 miles KING'S BUILDING, Ground Floor

to "unfair" | north of here. would not advance the agreed mesile industries objective of restoring

Ten teologists multi-

from Ontario ill-competition from Imported goods lateral world trade."

this is when the tariff and Quebec, The, con-

accompanied by ference therefore rejected the instrument of polley, especially new find during,

the weapon would prove a useful Eskimos, located and staked the a six-month proposal and thus, in the words

ir

means could be found of journey of one

northern "sounded the observer, death-

knell of Empire Free wielding it without risk of hurt-wilderness. The team returned

ing another member of the here on Christmas Eve. Traders,"

said, "Our Kroup has However, the United Kingdom Commonwealth family.

The real significance of the located and staked a large aren was not entirely without success in this matter.

that has immediate deposits of communice, It obtained the Commonwealth

concentrates of promise of co-operation from its however, lies not in its velled medium grade

*** | iron ore”. Commonwealth partners in an hint of future tariff action, but

The Canadian-born Cleveland industrialist approach which is to be made to in its positive rejection of dis-

said, "The new other GATT countries to meet crimination by import quotas, bhali

deposits are so located that particular difficulties arising on exchange restrictions. the United Kingdom turist.

transportation to Europe other paraphernalia of the

would be the logical route for British "planned economy".

them to follow although with TWO-FOLD PURPOSE The

gained by other three rivers capable rough nattens

supplying The object would be to enable multilateral world trade would electric power and energy we the United Kingdom "consistent far outweigh the inarginal losses might be able to do more after ly with the basle provisions of suffered as a result of possible GATT," to continue to permit increases in British tariff rates. the duty-free entry of certain Commonwealth goods,

4

ever

to

on

though it may from time time

duly increase the similar imports

countries.

11

to return

from foreign NEW TEA

This would serve a two-fold purpose. In the first place, it would continue to give Com monwealth producers a favour- able market in this country, while leaving the United King- dom free to raise duties or foreign goods In order to pro- tect British industry and agricul ture.

The effect of this would be to raise the margin of preference .enjoyed in the British market by Commonwealth exporters. But, as this would seem to run con- trary t

Washington, Dec, 29. U.S. money in circulation - creased $270,000,000 during the week ended Dec. 21, the Federal Reserve Board reported.

to Article of GATT which requires that any advantage, Following is the text of the favour or immunity grunted board's statement:

ans country must be uncondi. tionally accorded to all other contracting parties," the consent of other GATT countries would first have to be obtained.

FACTORIES

IN SOVIET

Meow, Dec. 25. Twenty-six new tea factories are being built in the Georgian Republic.

An announcement sald they 40s_of_leaf per year_and_are

and with electric

power

of

research and experimentation. facilities port We might, with

avaliable hydra- produce resources, un the spot concéntrutes which then could be shipped to re- Aneries and final mills.".

treatment

Mr Eaton added, "Christmas Eve brought us final stakes to a new enterprise in Ungava which will beneft many In Quebec, in

Canada and in the United States.

I am 60 but not too old to launch a new enterprise in this promis ing province of Quebec which is on the threshold of, iremendous Iron are developments."---United Press.

are designed to process 78,000 Giant regions of the Kutaisi going up in the tea growing

Oblast,

of Adzharia and Adkhazla.,

Some of them the Kingd, the Tskhakacy and Ordzhon). kidze factories have already been put into operation,

During the period ended Dec. 23 member bank reserves de- creased $148,000,000. The prin- cipal changes reducing reserves The second purpose of the were increases of $270,000,000 in British bid for a relaxation money in

the "no new preference" rule is tea in efrculation and $287,- 000,000 in treasury deposits with rather more subtle, federal reserve banks, and a de- crease of $01,000,000 in gold steek. The principal offsetting changes were

an increase of $400,000,000 in reserve bank credit and a decrease of $27,000,- 000 in foreign deposits with federal reserve banks.

The increase of $400,000,000 in reserve bank credit resulted from increases of $356,000,000 in loans, 000 in U.S. Government securities discounts and advances, $70,000,-

and $25,000,000 in

float.

Hold Ings of U.S. Goverment securl- ties reflected an increase of $81,000,000 in bills and a de- crease of $11,000,000 in certi- fleates. Associated Press.

ONLY WEAPON LEFT

of An official said the Georgian

factories will Lurn |0,000,000 more kilogrammes

tea in 1053 compared 1950.

Tanker Being Built

London, Dec. 29.

An oil tanker of 32,000 tons is now under construction in a British yard.

It will be the first of six large out ships ordered by a British of tanker company early in 1951. with Seven more tankers of 32,000 lons were ordered by the same

The Commonwealth has re-

A great deal of work is being company last June.

Fourteen new tankers are to solved to work towards the done to further mechanise the be launched for the company in abolidon of trade restrictions.

manufacture of tea. In ad- 1953 of which four are of the But this might expose British dition to the building of new 32,000-ion class. The fleet now Industries and agriculture to an factories, the capacities of numbers 153 ships of varying existing enterprises are being undesirable degree of competi

Bizes, no increased. The re-designing of This large tanker can be em- factories hos already ployed on only certain Joules completed. Associated notably between the Middle East and the Caribbean and the

where United Kingdom.

ports con accommodate them. -

U.S. Gift To

Pakistan

of

tions. No government matter how blamiess its motives) 28 ca

could afford, to stand by and been sce industries decline or workers Press, unemployed as a result of foreign In the domestic competition market, It is certainly not the Intention ol GATT

1 should.

Therefore, if the removal of trade restrictions resulted in a positive threat to British Indus- tries or agricultura, the Britten

Chittagong, Dec. 20. Government would then be com- The United States is giving pelled to use the only weapon of $500,000 (£178,000) worth defence left to ff-the tariff machinery to develop Chitta- weapon.

gong's forest resources. Indeed. Mr Butler, the Chan-

Under

scheme 15,000 cellor of the Exchequer, has in- Montreal, Dec; 20. timated that tariffs "will come tons of timber will be extracted world's output of restrictions and all the other de-

from the forests annually. when quota accord nickel this year will approximate res

This will cost $300,000 and under which Ceylon will x-315,000,000 pounds, with Canada vlees now used to protect the take two years to prepare. change 50,000 tons of rubber accounting for 90 percent, Dr balants of payments are to- annually with China for 250,000 John Thompson, Chairman of moved,

A second scheme will of rice over a Ave-year International Nickel Company of I the time should come, how-tablish

Canada Ltd. sold today.

ever, when the British Govern- here. Government could have taken

ment is forced to raise tariffs to solve the grave food prob- lem.-United Press,

tons

New York Sugar period as the best action the

Futures

New York, Dec. 20. World sugar futures closed today 9 higher to 3 lower with sules totalling 13 contracts.

Contract No. 0 closed 2 to 3 lower with sales totalling 20 contracts.

Contract No. 4 (world)

January "March

May

July

Beptember

October

January

Boot

Contract No. 6

March

May July

September

November Spot

4.00 nominal

3.03 bld 3.04 bid

LONDON TIN MARKET

London, Dec. 20. The in market was dull this 3.05 bla morning, Turnover was 20 tons, Including Ave tons for casti, 3.66 nominal Prices closed at the end of the

3,08

3.00 nominalomeint

3.70

6.51 hid

5.59 bid

5.70 Jac

5.00 bid

5.ni morninal

0.53 United Prose.

morning

World Nickel

Production

The Lice

back into fashion"

onc

ቲዩ

France-Presse.

CRUDE OIL PRODUCTION

New York, Dec, 20. Daily average gross crude oil and lease condensate production In the United States increased 40,200 barrels in the week end- ed December 20, totalling 6,010,- 800 and compared with 0,203,000 barrels a year ago, the Ameri can Petroleum Institute report

The Industry operated at 03.5 # research laboratory per cent of potential.

Finished and unfinished petrol stocks totalled 131,017,000 bar- rels compared with 120,902,000 of the previous week, and 128,145,000 a year ago. Unfinish- ed petrol stocks totalled 7,324,- 000 barrels-Associated Press.

to East Pakistan'. ---

In his year-end review of the against foreign imports to pro- The American elit, follows, a visit by two forestry industry, Dr Thompson said that tect domestic industries it would recent the free world's production of be very reluctant to withdraw experts Reuter. nickel believed to bo more the, present right of duty-free than five times.that of the rest entry now accorded to many Im- of the world. The 1952 output ports from the Commonwealth represents a gain of about 20,- and thus destroy

the basis on

world's output of 295,000,000 Ib. been built. But that is what it In 1991-United Press,

000,000 pounds over, the free which Commonwealth, Irade has JAPANESE BONDS

•

LL

Exchange Rates

Iuliers Wa dòng đồ cho loài unomialul - exchange) market:. this morning at the following ratestma US dollar. (per- $1).

.6.930 fiterling molo [per: A13-Jan. 19.62 Indonesian gylläom (per 100) 27,00 Siam icals (par, 100)TM .......... 23.40 Singapore (Strasts)

session

DI

follows:-

Spot in, thyers

048

Sipat tin, sellers,

130

Business done ut

D

Thren-maniba tla, busteen.....

046

Three-mantha tin, sellers..

Business done at

Settlement

040

fed Press.

PIC plastres (per 100)

18.37

11.73

wil have to do unless other GATT countries agree to allow some relaxation of Article 1 of the General Agreement to meet the British case,

London, Dec. 20. The London Stock Exchange opened quietly after the Christ- mas recess.

CAR OUTPUT.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

*M.S.

NEXT SAILINGS

"JEPPESEN MAERSK”

M.S. "OLGA MAERSK” M.S.

"HULDA MAERSK”

• CALLING VANCOUVER

Jun. 2 Jan. 18

Feb. 2

ARRIVALS FROM ́U.S.A.

M.S.

"HULDA MAERSK":

Jan.

Y

M.S.

"TREIN MAERSK"

Feb.

4

"NICOLINE MAERSK"

Feb. 16

M.S.

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos, 36066-9.

Dates and rotation subject to change without notier."

At Bberly to proceed via other parts to_hand/discharge_cargo,

Liquidation

Decline In

In Chicago U.S. Cotton

Grain Market

Chicago, Dec. 20. Chicago grains declined re- gularly, stemming frem renewed liquidation and selling.

Other leading commodities were irregular.

Wheat closed 1 to 1% lower and soybeans highör to lower.

Prices closed today as follows: Wheat-price per bushel

Spot

March May

July

2 nominal 2.39%

2.301-1

1.607-14 1.0992-1 1.6822

Prices

New York, Dec. 20.

Colton futures turned irregu- for after a steady opening with prices dropping back under increased quidation and year- end tax selling. But overall, activity was on the quiet side with fresh commitments being avolded pending development. In the consumer market and the Korean war news.

#

The market opened 2 to 4 points lower and closed 2 points

polats lower to

higher. Operators from New Oricans were on the selling side, but light support developed from the trade. There was no par- ticular feature to the market. Dealers felt that the rate. of Joan entrics is now at a pace sufficient to lend some stability to free the market for splurge.

September

Com

Spot

March

1.50% 1.42

May

July

September

Ryo

May

July,

1.00% nominal 1.0139 14

Ost

Spot

March

017-7 0144-14

Zarchi

May

July

October December March May

Maya

New York flour-per 200 ib. Back. $12.00.-United Press.

Record Oil Output?

Prices closed today 打吗 follows:-

33.39 monstrat

33.04

34.10

34.15

34.13

34.15 nominal

34.13 nominat -United Press.

NEW ORLEANS MARKET

Spot

March

May

July

Dctober

London, Dec. 20. World oil production is. Hikely December

March

12.0

33.82-33.64 34.11-34.12

34.17 34.10 bid 24.14

34.12 bld United Press.

In The Doldrums New York, Dec. 20, Trading in spot black pepper pretically came to a standstill

to reach the all-time record 640,000,000 tons this year, the May Petroleum Information Bureau Detroit, Dec. 29,

of London said today, Mator, vehicle

Quiput in 1991 was €10,000,000 outpul In the tons. United States this Christmas

the More than 50 per cent of week will total, 109,787 vohl- cles, Ward's automotive report estimated 1932 output will come from the United States, the Official conamation. from

Bald

Bureau said, but there wire blg Tokyo that the Japanese Star)»

The agency... counted 88,973 output increases by most Mid Ing balances fell below. 280 cars and 20,704 trucks in the East oll-producers except Iran. today and prices, on a nominal 000,000, caused a fall of ano de total. Last week, $9,500 cars Biggest pingid risa. this year basis, declined,. Spot material two points in Japanese bonds and 28,300 trucks were bullt for was in Iraq, whore # new pipeiling was ofered between $1,20 and although few people really be a total output at 127,070. In the to the Mediterranean

pound. On shipment helped $1,30 a leved that the recent debt cemparable week In 1951; 24-boost output from 9,000,000 tons position, Malabar December was

is la any way right to admission agreement

042 cara und 11,181 trucks were last year to 10,000,000 tons, quoted at $1.18 and January but that there, should be

bulli-Associated Press, al danger-Franco-Presse.

Associated Press.

$1,10-United Press,

JAPAN'S CASE

The British Government's off elal view of Japan's application to Juin GATT remains at-li has always been that Japan has a clear

In