1953-01-05 — Page 9

MESSAGERIES

M

"FRY-HILL"

"MONKÁY"

**BEST*

Arriving

THE CHINA MAIL; MONDAY, JANUARY 5, 1963.

MARITIMES BRITAIN'S TASK IN 1953 ROYAL INTEROCEAN LINES

Leaving

Jan. i Jan. 19

፡

M

Outward

Japan

rd For

Homeward Yor

Jan Jan. N. Atrics & Eprope

Feb. 10 Feb. 15

Kaslung Hongkong

...Feb! + *"LA MARSEILLAISE" . red. 12

For passenger and freight.

N. „Africa a Europe

Maroties via Manila

+ For freight to Salgon, Marseilles, Algiers, Tangler, Casablanca,

Havre, Dunkirk, Antwerp &. Hotterdär.

Accepting cargo:

-via Marseilles to all Mediterranean & West Africa Porta, -via Djibouti to Madagascar,

Subject To Change Without Natice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 69, Hongkong

Queen's Building (gr. floor)

Tel. 26651 (8 lines).

EVERETT LINES.

EVERETT ORIENT LINE

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

"LENEVERETT"

Arrives *Sallo

Penang.

Jan. 14 from Manila, Jan. 15 for Singapore,

Rangoon & Calcutta.

"BRADEVERETT"

Arrives Solls

Jan. 30 from Manila

Jan. 31 for Singapore,

Rongoan & Calculta,

(Accepting cargo for. transhipment Kobe/Putan and Kobe/Okinawa)

Penang,

EVERETT STAR LINE

Fast_regular_freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.

M. S. "STAR ArcturuS“

Arrives Salls

Jan, 8 from Japan.

Jan. 9. for Singapore, Part Swelten- ham. Madras, Colombo, Bombay, Karachi, Kharram→ shahr, Basrah & Bahrola,

M.S. "STAR BETELGEUSE"

Arrives Sails

Jan. 22 from Japan. Jan. 23 for Singapore, Port Swetten-

ham, Madras, Colombo, Bombay, Karachi, Kharram, shalir, Basrah & Bahrein,

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

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

ATOMIC

POWER

THEORY

St. Louis, Jan. 4. Two St. Louis firms, con- vinced that electric

HONGKONG

SHARE MARKET

(From Our Correspondent) power

Business done on the Stock can be produced from atomic

Exchange this morning smount- Clergy for commercial use, are

ed to $641,100. Noon prices authority reking

to build д

and the morning's transactions- pilot plant to prove it.

McCullough,

Mon- BHARES DUYENS SELLERS SALES Rogers santo Chemical Co. executive, BANKS

NK Bank and

70 1415 31470

T

sald additional research

development work will bo| INSURANCES

to produce the design

of a full-scale plutonium-power

reactor systern.

nctor McCullough, director of n Joint project of his company bud Union Electric Co., reveal- cd the plans to a meeting of the Oak Ridge Insitute of Nuclear Studies in connection with the

·for the American Association Advancement of Science ment-

being He said a proposal is mado

Atomic Energy to the Commission · for a co-operative

actual of

with a pilot

conclusions

programme

perimental work

plant,

Some

a

'ex-

the of reached by the Monsunto- Union Electric team were that the mechaniam for power pro- duction should be a steam tur- Etcom -bine. The

would bo liquid produced through metal rather than water.

project McCullough said the .had. proceeded on the assump- tion that plutonium production must not cost any more when coupled with power production costa in reactoni that it now that wasbe the heat-Associated Press, VA

Exchange Rates

done in the local

Business was

unaincial exchange.. market

morning at the following raios:**

11.5, dollar. (per $1)

this

8.010

Sterling note (per 23).

15.03

Indonesian guliders (per 100)

Siam iltaa (per 100)-vakts Bingapore (Biraita) XIC piastres (per 100),

Canton Union Underwriters SHIPPING

Waterbost Asla Nav. DOCKS, ETC."

K. Wharf.. N. P. Whart 01 Dock

Provident S'hal Dock Wheelcek.**

250

010

6.20

13

3.40

09

20.10

2014

5500

1.80

2000

7.00

2000

Wheelock His..... 3.05

0254 3 1.80

23000

330

1.50 8.00

1.03

65

0535

54

55

19% 1.35

LAND, ENG..

HK Hotel

Ik Land (0) HK Land (N)

S'hat Land.. UTILITIES

Tram

Star Ferry

118

eta

C. Light (0) 950 015 GOO @ 1,45

Nation Must Increase Savings And Spend Less

Great Deal Depends On

Anglo-Bolivian

Tin. Talks

1

La Paz, Jan, 4.

Bolivia, is to seek a con-

tract for the sale of 50 per cent of her in to Britain, the newspaper El Diario reported today.

Diario quoted Manuel KATTAU, president of the Bolivian Mining Corpora- tion, as saying negotiations will start this mouth after the arrival of a British mlesion representing tho William Harvey Company amellers.

Britain has not purchas- ed any Bolivian tin since Bolivia nationalised FL tin industry last Oct. 30,

United Slates, Bolivia's other big market

tin, for

not also purchased any because of

The

à long-standing

disagree-

ment over price%,———A$50- ciated PresN.

A New Rubber

Process

On U.S.

Business Conditions

(FROM OUR OWN CORRESPONDENT)

London, Jan. 4.

So far as external finance is concerned the old year ended on a happy note for the Sterling Area. Although, for the first time since July, the gold reserves dipped, the underlying trend of Sterling-dollar pay- ments remained markedly in our favour.

The decline of $49 million in the reserves was wholly accounted for by the payment at the end of the year of $181 million in capital and in- terest on the United States and Canadian post-war loans.

But for this heavy outlay --- which, strictly speaking, should be spread over the whole year — the reserves would have risen more in December than in any other month of 1952.

some

As

however. the It was.

Secondly, she must save mare fell to total reserves

$1,840 at home in order to step up million malting the net loss of investment in domestic industry gold and dollars

$400❘ without cousing renewed in-

the flation, million for the whole of

Both are year.

equally important But these figures mask the but more stress will be placed very

real improvement that in the next few months on the Jas taken place since last April second of these tasks. This is when the central reserves of simply because Britain cannot the Sterling Area were down to hope to increase her exports in $1,602 million.

the face of growing internationni At their

present level the competition unless her industries reserves are still of course too are made more eflcient. low for any real comfort; Bul Economists of all shades of at loast the underlying trend political opinion are therefore is upward whereas at the out-agreed that thrift must be the set of 1952

we faced dullar keynote of all the nation's en- bankruptcy in a few months deavours in 1953. This agree- tapid and the alarming prospect of a ment on a matter of such funda-

decline in domestic mental importance is more re.. standards of life unless Arm markable than it may seem. action was taken.

was

taken

Akron, Ohio, Jan. 4. The B. F. Goodrich Co. nounces it has a new process to male cuid rubber 50 times faster than it is now produced and do

action Happily

FACING THE FACT it with plants and equipment and it was firm enough to halt For the decline of personal

per cent less. costing at least 50

the downward trend, Ana savings since the war has been John L. Coflyer. Goodrich Pre- later, despite the fact

a direct result of the redistribu- sident said the U. F. Goodrich Am

American defence ald was tion of Incomes that took place Chemical Co. developed the pro-reedived in smaller quantity under the Socialist regime. cess during 12 years of research than expected, the trend w under contract #nanced byeversed. Federal funds from the Recon- The modest surplus now he struction Finance Corp.

Jug earned by the Sterling

that

Under the new method, still in Aren In its trade with the the pilot-plant stage, high quality dollar world, together with the cold rubber is produced in stain-continued recovery of gold from less steel pipes instead of expen- the Europesa Payments Union.

em- enables sive pressure vessels now

us therefore to look into 1953 with greater ployed in government owned ahead

hope than at almost any time rubber-making plants.

The new

through pipeline since the end of the wor.

is possible of extreme

DEPENDS ON U.S.

process, Collyer active catalysis

-agents which Any estimate of our chances specto

the up chemical reaction in the new year must of course

make

American ruble based on certain broad as- sent production cumptions, ber Where present

A great

deal methods take 10 to 12 hours, the depends for example on a con process turns out rubber In 15 | tinuing high level of business to 20 minutes. Collyer sold, and industrial activity in the

Company engineers estimate United States. costs of buildings and equipment As was forcibly demonstrated for making cold rubber would be in the Autumn of 1949 even a reduced "at least 80 per cent" slight recession In American by the new process, Collyer business activity can have dire consequences for the Sterling cald.

But, he added, the new pro-j

Ares cess cannot be used in existing plants because of surmount problems," an able technical the development thus "raises the question of possible obsolescence of present facilities,"

The

been

they

What, It asles, will be the future policy of the Eisenhower regime regarding foreign econo- mic old?

The recognition by left wing economists that savings must now be Increased may not be a con- demnation of past policy but at least an acknowledgment of the fact that that polley was not without its disadvantages.

ginnd a full 10 points above the level of mid-November.

Inore

"The revolutionary design of the new H,P,-10 "bomber has caused intenss interest among im- investors but aven portant has been the announce

is to ment that super-priority be granted to the production of Comets, Viscounts and Britan- Alas,

SUBDUED TONE Export prospects before these Billis airliners is indicate Dy the fact that Arm orders £75 million in approaching value have been placed with British aircraft constructors.

Gilt-edged securities declined trectionally early in the week but these losses were later re- covered and this section finish- ed firm and fairly active.

Rubbers, teas and base metals were all quietly firm.

Looking forward into the new that the year it seems likely present subdued tone of the AL stock markets will remain least until the Budget,

announce

Tuesday's big issue of Anglo- Iranian stock is expected to be heavily "stagged" and this will make for quiet conditions carly in the week. Nobody would now wish to see Among other new Issue

Motors a change in the present structure news, Ford

to seek per- of incomes but the fact that that they intend

to rich; mission

capitalise 20 heavy taxation of coupled with higher wages 10: million out of reserves 'and the relatively poor, has led to a distribute nine million ordinary marked falling off of personal shares of £1 each to holders savings is a fact that must be jef ordinary capital. squarely faced.

the

the

And I will confront Chancellor of the Exchequer with one of his toughest prob- to dale when he comes to Budget proposals In a few months time.

Greatest immediate benefit would be gained by reducing taxation on

company profits, This would certainly result in a higher level of Investment in domestic industries.

DEPRESSING OUTLOOK

European Market Dwindling

New York, Jan. 4. Spokesmen for U. S. oll in- dustry said that, as predicted earlier, its European market for pubrienting olls has been hit by European production which was Bnanced by Marshall Plan dol- lars.

Even so, controls would still be needed to ensure that surplus funds were invested in the of project most likely to foster An increase of exports.

the

"YJIBODAS" *VÁN HEUTBZ"

*TARMAN** "DOIBBEVAIN" -STRAAT

BAILINGA

14. a Jan. 18.

Djakarta

RENCASTS!

To

Semarang.

Burabain `

Belawan Bell, Nenak. Stupore,

Neunion.

Africa

istocare. Penang & Belawan Doll

Wugapore, Djakarta. Semar

Gürshita #Blachmay

•Singaporo,

DJARATIA.

4. Atrien ài A., Ainariem

BomuTank.

Markalar

Keelung & Joran

Bingapore,

- durabila a "Manatsar

Japan

**TASMAN”

“TJILUWAR*

“TJTJALENGKA”

#TJIPONDOK" "TIMANTJET"

Jan. 情 Jari, .38

Jan. 12

Jan. 23

Diskarta

Jan. 23.

"TJIWANGI"

Feb. +

Feb. 4

Japan

Feb. 5

feb. * Feb.

Feb. 17 Feb. 'ID

Japan

Riapipore,

Bell 20

Feb. 23

Kinganze,

bjakaria,

Feb. 23 Mar.

"STRAAT KOENDA" Mar. «TJIUODAS"

*

Mar. 3

"THLUWAIPS;

1607. Mar.

16

"TASMAN" "STRAAT

MAKASSAR"

"TJIWANGI"

- Apr.

Mar, 17

Mar. w

2

MAKARBANS "ТПКАМРЕН"

"TIMENTENG"

-TJILUWAII"

"NGISSEVAIN"

#THANTIKT"

"TARMAN" "TJIWANGr"

*TJIBADANE”

.3

Sadriti

Sorabnim

Romerang

DJARATCH.

Bemetang,

jakarta.

Manritu

Surahnla

Djakarta, Acmarane, Auraknin

MACASER

Manlia. Ringanore. K. & S. Africa &

8. America

Muralala' & Murasar

8 Africa & R. America

Repistang,

Mataskar

Hingapore, Penang & Relawan Doll Bingapore, Bjakarta,

Surabala & Maraisar,

Japan

Semarang,

Djakarta,--Renarang, Burabalh

Marakkar

Japan

Singapore.

Djakarta,

Buratinia & Macassar

Japan

Singapore

Bjakarta,

2

Semarang,

Mauritius,

Bemarang,

8. Afrlea & 9. America

Singapore. DJakarta,

Burabola & Macassar

ARRIVALS

"TJIBODAA" "VAN HEITSZ" "TJILUWAII”

Jan. 4

Jau, Jan, 17

Зарап Japan

From

Macassar, Butabala, Semarang,

Djakärta & Ringapore

KING'S BUILDING, Ground Floor

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS, 31190, 25138,

MAERSK LINE

FAST FORTNIGHTLY, SERVICE TO:

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

..

NEXT SAILINGS

M.S. POLGA MAERSK” M.S. "HULDA MAERSK”

M.S.

"GERTRUDE MAERSK"

Jan. 18 Feb. Feb. 11

2

In Port, Buoy A.4

Feb. & Feb. 16

ARRIVALS FROM U.S.A.

M.S. "HULDA MAERSK” ........

M.S. "TREIN MAERSK"

M.S. "NICOLINE MAERSK”-

For Freight and Further Particulars please apply to:

AGENTS:

JEBSEN & CO.

Pedder Bullding,

Tel. Nos, `36000-9.

Dates and rotation subject to change without notice. At liberty to proceed via other ports to fuadźdireharga cargo.

CEYLON TRADE

WITH PEKING

Colombo, Jan. 4..

Trade with China will be handled entirely by Ceylonese it plans now being formulated by the Ministry of Commerce and Trade are approved by the Government.

In this respect, however, the Those outlook is reassuring. American economists who a few months ago were predicting recession for 1953 appear to have changed their minds, and their rubber companies have

general forecast is now.

. But

decision to reduce com- operating these govern- one of continuing prosperity at ment-built war-time synthetic least for a year and possibly any taxation without a similar The National Petroleum-As- reduction in taxation en private sociation said the reduction in plants

and want to acquire for two years.

incomes which would not in But if the change of adminis- itself lead to any marked in- } port soles is already, beginning |

to be apparent. ownershly announced method tration in the United States has

of personal savings...” In a statement, itadded: "In tha would of making cold rubber-which is encouraged American business-crease bc

impossible. politically mes to go ahead with plans for

past few synthetic rubber made at tem-

months, member com- Unfortunately the outlook for

panles have forwarded to us peratures much lower than were capital investment that

the present financial year which letters which they received from required in carller methods of might otherwise have postponed,

In the non-dollar world looks for ends on March 31 is depressing. foreign

Belgium, agents producing artificial rubber-be-

ward to the advent of a Repub- Figures pubished last weet Greece and France, warning that comes part of a government lan government with at least show

the governments of these coun- patent pool created early in some misgiving.

Exchequer was in serious trou-tr

tries' World War II when a serious

ble at the end of the first nine iris were planning to hapose on the further import crude rubber shortage developed,

months.

of lubricating oils from the U. S., Associated Press.

Ordinary expenditure exceeded forcing the

to obtain

The Government's Ceylonisation plans are revenue by over £500 million their

supplies

the new being co-ordinated with proposals for the establish. while the overali

deficit Europe Journal of Commerce

ment of a Commodity Corporation to handle the (ordinary and capital expendi The Ture minus revenue) was of the stated one importer sald the major imports and exports

of £1,000 million.

French Department of Industry Washington suggest that MrDespite the fact that a good and Commerce has informed the to be entrusted with the cxport from Ceylon

Ceylonese fraders ore likely The ceiling value of exports Eisenhower will not be less

to the Federal deal of revenue normally cavs Centre Professionel Des Libri- generous in this

of all commodities respect than

to China, Republic wos Rs. 170,000,000 into the Exchequer during the flants (which groups the refiners including rubber, the relring President,

and also all and that of imports from the final quarter at the financial and the major bulk importers) imports from China, with Certain changes may be made

the Republic was Rs. 112,000,000. it now of the year

seems extremely that, in the very near future,

exception of rice, which is a Exports from Ceylon to ald

pro

that the original Bud- unlikely

for the Importation of Government monopoly." credita for

Germany during this period get estimates will be fulfilled;

oil (Diesel, enterpillar, .defence

Coylanese

over Rs. I, despite this, the Chon- The 30,000-ton Andrea Dorin, ald to Western Europe will

compressors and 100 per cent who cinese rubber shippers, amounted to a little

that they initiated 98,000,000, only 56 per cent of of Italy's probably place greater emphasis cellor decides to reduce tax pure Pennsylvania) will be with trade with China despite great the prescribe celling value. latest and fastest

and in- on companies

dimculties such procurements tion

drawn.

exchange, of throp new trans-Atlantic luxury on off-shore

exports from Ceylon, also take

Importers in these products, it shipping etc., will press their rubber was the only commodity liners, will start her eight-day military supplies for NATO. dividuals, he must

strong menzuver to reduce said, have been asked to arrange case for exclusive rights in the to exceed the ceiling value, runs from Naples to New York forces and less on direct grants

Government expenditure, and gifts.

to use alis obtable from rubber trade with China.

which it topped by over Rs. On January 14,

Indeed, without drastic reFrench refiners,

According trenchment in the pubile sector

to present indica- 12,000,000 and formed nearly 30 Asked about this, the Mutual tions, China will pay, 32 pence per cent of the total exports.

All the This Security Agency said in Washing for rubber.

however,

other commoditien

about value of trade, tea being 11 per cent, copra 12 per cent, dessient-

New Liner

On The

NOT THE SOLUTION No definite answer can yet be Klven bui recent reports from

Atlantic Run in the actual pattern

Genoa, Jan. 4.

foreign American gramme; for example

e

of

receive

The 097-foot liner, with 10 But this total amount of decks, has turned in test American foreign aid will not,

the nation the economy, nots in last it is thought, be greatly reduced. will be unable either to earn a speeds of 25.30

trials in November in Indeed, the type of aid most surplus in its balance of pay-tos that Imows of the situation will be the FOB price and the fell for short of the anticipated the

needed-private Ameri- urgently

in its but, at this time, can suggest producer will rian Sea,

or invest more Sho

Investment in underments wit

1,241 par can

only that American exporters Rs. 1-40. Will carry

domestle industry. developed territories-will prob-

No. arrangements have yet ed cocoanut 70 per cent, coir de could help themselves by bulld- strigers and a crew of .375.

If that altuntion should up.

hopes foring refineries abroad.---Associated been made to import the 10,000 yarn 63 per cent and coir Obro The Andrea Doriame name ably be stepped

velop,

our bright

tons of wheat flour offered to 30 per cent less than the ceiling Prcss. ag one of Italy's only two un-

1953 would fado and our

Ceylon elent battleships follows the

by China under the values fixed for each fem. short-term agreement for 'trade Imports into Ceylon from economy would again be faced

the Federal Republic tell even between the two countries.

of the anticipated There are sumcient stocks of shorter wheat

flour in Ceylon at the values fixed under the agrees. moment, and some difficulty is ment, being only 23 per cent of being experienced by the Food the overall ceiling. authorites in finding storage accommodation for these stocks 2.3 well as other foodstuffs which are expected to arrive in

But American aid, however much it may help to close the 22.10.23.30 500 8220 Augustus and Giulio Cesare as dollar gap, cannot by itself lead the Italia Line's newest big to a permanent solution of the passenger ship, bidding for the world dollar problem. That can rich trans-Atlantic tourist only be sought through an ex- of mulilateral trade ond tension trade,

She is expected to clip a day the restoration af convertibility or 'mare of the "Southern for the world's other major cur- reute crossing", completing runs rencies especially the

either Sterling. from

¿

1000 # 019 10,000 94

C. Light (N) 620 Electric.... 23.00 24.10 4000 ₫ 23.80 23.00 Metao Elec.

11.20 INDUSTRIALS

Comeri

19.40 000 © 2012

to

20.30

STORES, ETC.

Dairy

In 1030 4000 @ 19.20 Watson

24.70

STA Leg Crawfor Wing On I 47

212 0 47 COTTONS

200 [email protected] MISCELLAN

Yengimo ... G.90 2000 5.33

New

has

Pound

with an "odd-year" crisis.

Grant Offered By Bank

A now commercial agreement countries between the two with a wider scope for trado was concluded at the beginning of last month-United Press,

COAL DEPOSITS

THE STOCK EXCHANGE The stock marketa remained

thero were quiet during the past week but several interesting features in the market for in-

Colombo, Jan. 4, dustrial starEJ,

A Grant of. R4,500,000 hos York

Interest was concentrated on been offered by the World Bank 500 19.0 Naples or Genoa in eight days, For this reason the Common shares subject to take-over re- towards the establishment of the Island shortly.

Most Southern route chasings wealth milsalon to Washington

Scientific and Toclinical

Re

The Commissioner of Food now take nine to 11 days. next Spring may have a deel-ports, and rumours but certain

Ceylon. The

Supplies explained that there The Andrea Doris, bullt in sive effect on the future world classes of shares have benefited search Institute for

from influences quite outside Bank has also offered to send a

no difficulty in procuring three economy. .Genoa shing pools, one

wheat flour normal Stock Exchango con- team of scientists to Ceylos Ceylon's needs of

Lucknow, Jan. 4. outdopr

siderations. swimming

to assist in the establishment of at the moment and the offer of

A Japanese, an Arnerican and TWO WAYS for dich passenger class.

the shores

of Collard, the Institute, The offer Is being Chinese, wheat flour would be a German frm have offered to 30 fac as Britain Heelt is

Heels stewart and wall, the restaurant considered by the Government. sccepted only if the need arose explolo soul depbalts discovered Her builders said there. was.

concerned the task 1000 3,00 one more electrle welding and

have concern,

moro than The main function In 1953 is to save more and doubled in value, over the part Institute would be to nuvise the Ceylon's exports to and in-

GERMAN TRADE in Bihar. of the less riveting in her construction

spend less. This must be done

Informed

enla than in any other passenger in two ways

few months because of extra. Government as to

to whether now poris from West Germany, these fans were prepared to ir- in Jiner yet bullt Italy

will be under

the fende First, she must earn a stable business expected to accrue iq Industrial

agreement vest nearly Rs.200,000,000 Her bridges were

completely

surplus in for the company during the Corona- scientifically sound. It would which recently expired, fell for the mines if they were given and adequate pre-fabricated ashore, for the balance of payments with tie tion celebrations

nimo-conduct scientific experi- below the prescribed ceiling lease rights for 10 or 18 you. firal tima în merino consiruće rest of the world so as to iris - Aircraft mares, have done 'ments on local building matarlala | values.

However, the Government of "The' agreement covered the India are not likely to accept tion here and hoisted aboard crasse ber Investment in the particularly as well and the and thus reduce, the cost of the hull by giant cable cranes economic development of the Financial Times Index shows building projects by utilising period November 1, 1950 to the offers, the sources and ifissociated Fresk

Commonwealth;

share valuðu in this section, now | local materials--United: Press,

Industrial Output

Washington, Jan. 3. The Federal Reserve Board's, Index of industrial production for November, was 233-United Press

setemes

September this your,”!

An

United Press.

source