1953-01-07 — Page 9

MESSAGERIES

M

"FRY-ILL”

"MỌNKAY"

"DREST

Arriving

MARITIMES

Leaving

JAN. 20

M

Outward For

Japan

7

Itomeward For

Keelung Jan. 1 JATI, 7 Hoogkong Jan. ↑ Jan. 8

Feb.

Feb. 10

Feb. 15

N. Afrion & Europe

N. Africa & Furope' Afarsellies via Niunita

**LA MARSEILLAISE". Fib. 12

•

For passenger and freight

1 For freight to Saigon, Marseilles, Algiers, Tangier, Casablance,

Havre, Dunkirk, Antwerp & Rotterdam.

* Accepting cargo:

via Mariellies to all Mediterranean & West Africa Porta. -via Djibouti to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 68, Hongkong

Queen's Building (gr. floor)

Tel. 26651 (3 lines).

EVERETT E

LINES

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

"LENEVERETT"

Arrives Sails

Penang,

Jan. 14 from Manila. Jan. 16 for Singapore,

Rangoon & Calcutta,

"BRADEVERETT"

Arrives Salls

Jan, 30 from Manila

Jan. 31 for Singapore,

Rangoon & Calcutta,

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

Penang,

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 Sails

Jan. 10 from Japan.

Jan: 11 for Singapore, Pert Swellen-

ham,

Colombo, Madras, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein,

M.S. "STAR BETELGEUSE”

Arrives Satis

Jan, 22 from Japan. Jan. 23

for Singapore, Fort Swetten- ham, Madros, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein. (Accepting carro for transhipment - Kobo/Pusan and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A

Queon's - Building, -Tolephone-31206,-- Chineso. Department: Telephono 28293.-

Germany's Economic

Position

Less Rice For

Export

Bangkok, Jun, G. Because Thailand's 1953 rice output 116 been

estimated at about ten per cent less than fast усат, available export this year Bonn, Jari; 6.

would not exceed 800,000 The West German Economic Professor Minister,

Ludwig tons, an economic affairs called on

official said today. the

tils export added more produce

Acure had been

deelded upon at a meeting attended

Ministers the

Of Agriculture and Economic Affairs and rice procure=

Erhard, today

Germans to better and cheaper goods and said that West Gemiany's ex- port surplus made the mark one of the world's hardest curren- cles.

In an article published in the

Government bulletin, he said greater, better and cheaper

by

He

ment officials—Renter.

production was the secret of BARTER PACT

economic progress. He declared that his policy of pursuing a bocial market economy (cezlate down mrkiwiatachnit) had runarkable reculls,

in-

EXTENSION?

THE CHINA MAIL, WEDNESDAY, JANUARY 7, 1953.

Japanese Sterling Balances: ROYAL INTEROCEAN LINES

Japan Being Under-Cut.

London, Jan. G Western Germany and Italy Are substantially under-cutting Japan's ex•· poria of rayon yarn to South-East Antan kets, a messago li today's Financial Times said.

The paper' correspon- dent in Osaka added that

manufac many Japanese furers belleved that, if this trend continued, Japan's sales to South-East Asia would come to a complete BandsinRouter.

New Coal Pit In Scotland

Treasury Statement On British Policy

* London, Jan. 6.

British Treasury officials have expressed surprise at the statement from Japanese Government sources that . Britain would case import restrictions "to enable its trade with Japan to be balanced" when Japan's holdings of Sterling are reduced to n'out £70 million.

€

This statement, according to Press reports, was made by the Japanese Ministry of International Trade and Industry in its official com- ment on the recent Commonwealth Prime Ministers' economic conference. A Treasury official pointed out that British policy, has always been to achieve a balance of 1rade with Japan, Irrespective of the level of Japan's Sterling balances.

.

In the space of a few months she has lost almost half the reserves she occùmutated in the first year of the new agreement.

New Steel

Plant For India

The difficulty is that trade between Japan and the Sterling Aron as whole has not been in balance, with the result that Japan accuinulated reserve of Sterling far in excess of her

According to the Governor normal requirements.

of the Japanese Central Bank, Sterling Area import restric there is a possibility that most flons

were adopted as a means

of the remaining balances will be needed to deal with the excessive of Sterling, but their current account gap Japan is to hypothetical expected to show during the next pit which will work a virgin regarded as an essential condi-

From field of coal extending to some tion of increased trade between view this is encouraging, says the mining and steel manufacturing the British point of A team of Japanese tron countries ten qure miles in the

and "Financial Times", but the actua- thern part of the deep Mauch- line Hasin.

London.

A tart has been made Ochiltree in Ayrshire on a new

of

hold educing these

atreon has never been few months.

SOLI-

The sinking, Kloch Colliery, is the fourth new colliery started in Scotland in the past twelve months with a larget far in excess of anything for achieved.

550

Wawan1th

"TJIBONAR"

"YAN DEUTSŻ

BAILINGS

Jan. 13

TASMAN"

JAN. 1 "TJU.UWAN"

JAN. 14

"NITJALENGKA" Jan. *2

Jan. 23

**TASMAN" "BOISSEVAIN" "STRAAT

MARASSAN" TUKAMPER"

"TUMENTENG.

Illakarta Semarang, Surakala

Markar

iowan Dell, Penang, RevBlan, urban A

Aitken

Ringapore.

Jr.

E.

·Stagapere, Penang & Belawan BeR Kingapore, Djakarta, -, Semarang,

Buedfikia & Maczmar

Singapore, Elfatiarla, Mauriling

8. Alèles & ș, Ainerira

* Njaktla Semarang. Surabala

Alacakar

Japon

Fingapore.

Djakarta. Semarang,

Surabala & Macassar

Japan

Japan

Japan Djakarta

Remarank.

Maraisar

Sarahata

Mahilo, Singapore, E. & 51 Arțea &

16. America

singapore. Djakorlo. Remajans,

Aurahala & Macassar Singapore.

"TOPONDOK

TJMANTJET" TJIWANGI"

Jan. 23

Feb.

Pel

Feb.

Feb,

7

Feb.

Feb. 17

Fru.

12

Feb. 1?

Feb.

**TASMAN *

"THWANGI

25

Mar.

2

singapore.

"STRAAT KØENDA" Mar.

Japan.

"TJIHODAR"

Mar. I.

kijakarta,

"T218ADANE”

Mat. Я Mar. Ja

Inpan

biar. IT

Japan

**TJU.UWAR*

"DOISSEVAIN"

*TJINANTJET"

#TIILUWAR"

**TASMAN" "STRAAT

МАКЛЯВАЕ"

1

"TJIWANGI"

Tokyo, Jan. 6.

:

Mar.

Apt.

ד

Bjakarta, Aranyklus,

H. Africa & 8. America jakarta Bemarang, Surabaia

Macassar

*

"Hingapore.' Pohang & Belawan Deil

Jakarta,

Surabala & Marastar

Macassar

Semarang.

Kemarauz.

Surabala

Singapore. Djakarta, Semarang,

Burnbala & Macassar

Singapore

Djakarta, Mauritius,

Africa & 8. America

Singapore.

"Nurabain & "Macassar -

Djakarta, Semarang,

ARRIVALS

From

“TJINODAS"

3+1 Part

"VAN HECTAZ”

next

"TILUWAU“

Jan. 10 Jan, 12

Japan Japan

Burahala, Macassar.

Djakarta & Singapore

Remarang,

tion now developing in Anglo-experts, will go to India to increase her imports from the dangers.

The need is, rather, for Japan Japanese payments also has its month to survey every possible site for a joint Indian-Japanese Sterling Area, even if this means

steel plant. switching certain purchases from the United States.

NO REASON

For while it is better to have Sterling In short rather than Once a balance of trade has abundant supply, it would clearly been achieved, the need for im- be wise to see that the shortage

restrictions would dis-docs not become scule. The pit is one of the deep port

appear. Attings on which the Scottish

It should be stressed, however, Division of the Cool Board is

that balanced trade In this relying for an increase in pro-context means в,balance between duction by 1905 of 20 to 25

Japan and the Sterling Aren as per cent above current output, a whole, and not between Japan

and Britain alone. It will be equipped to pro-

Certain import

restrictions million duce upwards of one tons a year. Reserves of coal might have to remain in force are estimated at 150,000,000 even when this balance has been tons. There is therefore for each Commonwealth govern- achieved, but this is a matter coal to keep the colliery

ment, to deelde Tor itself in the

of light

Its own internal economic requirements.

work-

full out for 150 years, The cual is described as "some of the Anest quality house coal to be found in any part of the world."

The technicians, to be select- ed from Government engineers and representatives of private tentatively Japanese firms, are scheduled to leave Tokyo ear- ly in February. They will be headed by Tatsunosuke Takasa fal. Japanese industrialist, who If, for instance, the run-down

has been pushing plans for the of their Sterling balances now joint project here in Japan forces the Japancee to answer As a result, of Takasaki's Sterling Area import restrictions

with the World Bank by restrictions on Starling arm meeting

officials and Indian

in the according to goods, the payments equilibrium United States, clearly desired by both countrica.

sources here, the three parties much lower level of trade than formation will be attained ultimately at a

have tentatively approved the $100,000,000 has obtained hitherto,

World Bank company. would finance half of the capl- There is no reason to suppose tal and Japan and India would that Sterling can be established on a permanently sound basis only at the cost of a severe shrinkage in the Sterling. Aren's external trade.

But it may

of a

・The

WRONG IMPRESSION

put out $23,000,000 each.

The chief purpose of the sur- Another aspect of the Japanese

next Ministry's statement that has

vey team leaving here. "MAGIC EYE" SORTER

month will be to study pos- caused some surprise here is its

sible sites for the joint Indian- National Coal Board selen-reference to the establishment of

But it tists at Stoke Orchard Gentral a "world democracies' payments

be impossible to Japanese steel plant. will

also study .approximate 'Research Establishment have organisation",

the ultimate end and other Sterling short costs. inventexi a "magle eye" device "seems to wait sed, stop this happening unless Japan

*argurnents Mr One of the are shown and in which the Conumonwealth nations countries for automatically separating different kinds of coal at the are trying to attain."

good time that they can expect Takasaki used to win Japanese was that of International | to sce a relaxation of Sterling Government support. The Ministry pils.

Trade an pllot The first experimental

and Industry is apt

Impparently Ares Import restrictions on their | India was inclined to sell the the

that goods If they adopt appropriate pig Iron produced at the pro- at under Installed being plant is

jected plant to Japan at prices between Britain and the Commonwealth policies towards the area's ex- Woodside Colliery,

"Financis!

jeval. Times" below the international are seeking to establish ports, the Heanor and Ilkeston, Derby countries are

Until recently, India had world

"proments union", of concludes.

strongly opposed any such con- the sort recently

cession-United Press,

IL

shire

will be operation shortly.

of

put into

by "The Excited here

It can be however,

Primc

11s secret lies in the different authoritatively reaction of the two main types that this is not part of Sterling

"dults" cual-"brights" and when a beam of light is shone Area economic polley. upon them. The reflection from bright coal is concentrated In small area and that from duil coal in more scattered area Mixed coal passed before machine on a belt emerges iwo neat piles.

the

in

The The Commonwealth Ministers communique stressed the desirability of making Sterling convertibile, but their plans for achloving tils do not include the establishment of any new International organisation. On the contrary, they made it clear that their intention is to NEW MACHINERY

work towards convertibility "as New pithead machinery just for as possible through existing

at Donisheud

dealing Col-international insti installed

ensures with finance and fiery in Leicestershire

The economic much more effective use of man-

advantages of an "Atlantic. Payments Union", power,

Nornially at a pit head small on the pattern of the prescri lubs brought up in the cages European Payments Union, have are laboriously manhandled in- not been lost sight of, but these that their loads are more than outweighed by the to position

into political disadvantages. of coal can be dumped

waiting beneath wagons

tute. Now the new machinery, chute.

Pneumatic called the Surface

docs

Mine Car Circuit,

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning amounted to $420,255, Noon quotations and the morning's transactions:

SHARES BUYERS SELLERS SALES BANKS

TIK Bask

401415 4G 1416 5 7410

East Asia.. INSURANCES

151

Union...

793 805

20 R 800

PAPER'S COMMENT Japan's decision to agree to the this renewal without modification uf is required its existing payments agreement is one man at a control board with Britain for a further period helped by another who watches of iwelve months illustrates the SUUPPING

pre- change that has taken place in

and all that is

work, and

the proceedings, where

viously 16 were employed.

the supply of Sterling during the

editorial Jn. the

The scheme cast about £80,- past 000 and has raised the carry- ing capacity of the shaft from 1,500 tons to 1,800 chift.

tons

Ceylon May

The Secretary of Commerce Form Trade

Over 15 million people were and

Cornelio Industry, Mr working in West German

Balmaceda, has COTTLE out dustry today, he said. Even the strongly for early negotiations fact that there were only 1,500,- to extend the barter trade agreb- 000 unemployed was a success.ment with Japan, which is dun He gave figures to show how to expire on January 21, it was West German food consumption disclosed today by the Depart per head of the population had ment of Foreign Affairs. risen since 1948. In nome cases

Mr Balmaceda declared that

Corporation

:

view of

gaya

few months. Financial

Tukines

The present agreement bc- countries was tween the two designed to assist the expansion of trade between Japan and the soft currency group through greater use of Sterling by the Japanese in International pay- For this reason, it brought Japan within the scope, certain limitations, of subject to the Sterling transferable ac- count system,

ments.

the

new arrange- But when tho

force in the ments came into early Autumn of last year the mounting deficits of Britain and Colombo, Jan 6. other Sterling Area countries creating a surplus of The Government of Ceylon is wore considering the formation of a Sterling all over the world. So porporation to handle all major one of the first-fruits of Japan's

association closer

the with Imports and exports. it had more than doubled, the raulfieation of the Japanese

The idea has been under con- Sterling system was a steep riso notably in meat, eggs, and fats. Peace Treaty by Congress is un-

sideration for some time and a in her Sterling balances-from Sugar and butter consumption certain,

top level decision will be made 240m. to almost £130m. in less had also risen,

than year. complaints shortly in He recommended, that early shou

The Japaneso that rubber producers

made it clear from Exports rose from 206 million negotiations be entered for the chi

were unwilling

to marks (about £17 million) in

profits; particularly in ship stockpile" Sterling. When the September, 1943 to 1,432 million extension of the present trade shippers are making excessive that they

now payments arrangements ments to. Communist countries. marks (about £120 minion) in reement with Japan, until the Poace Treaty is finally ratified.

Recently shippers hat made a come up for renewal at the end September, 1062-Reuter.

to agreed to of Rs.25,000,000 froom of last August they Otherwise the export trade of profit

China and the pro- extend them for a period of four this country will be disrupted, deals with.

ducers profits had been insig- months as a temporary measure. he said-Reuler..

nificant.In comparison.

However, since then, the The tentative proposals are volume of Sterling entering In that

of the port

Rs.2,000,000 ternational channels has been re- needed as capital for the cor- duced by import cuts and other poration will be subscribed by measures. the Government, the rest

Cotton In N.Y.

New York, Jan. 6.

Prices of cotton futures closed today as follows:--

Spot

March

May

July

October

December

March May

33.10 nominat 33.13-33.18 33.00-33,07 31.00-24.04

Wheat For India, The Buenos Aires, Jun, fett

nia

Waterboat Asia Naw

DOCKS, ETC.

14

1.40

JC. Whart

N. P. Wharf ei Dock Provident

Steel Mills

Making Up Shortage

the new year

Pittsburgh, Jan. 6. Steel mills of the U.S. started nt a production rote which is likely to wipe out the last of the steel shorluges harassing the Industry since the days of World War 1.

source

move

Producers strained every re--

to finish 1952 at top operating rates to chalk up s much production as possible. In the week before Christmas,

mada steel

plants steel than had ever been made in any one week-2,238,000 tons of ingots and steel for castings, The nation's mills finished 300 @ 1420 1952 operating at around 106

92

m 13.20

11

7,85 7.99

a 120

(N) 21.00 Shal Dock

Wheelock

(Ria) 2.03

LAND, ETC.

irk Hotel

7.90 1.00

1 Land (0)

(N) Sad Land

UTILITIES

B

1.30

་

Trim......22.20

Star Ferry · 110 118 C. Light (0) 9.35 C. Light (N) 0.20 03 Electric 23.70

11.20 Mac Elee.

Telephone 10.00

INDUSTRIALS

Cement

១

eso

KING'S BUILDING, Ground Floor TEL. 28015/18. CHINESE AGENTS: 82 CONNAUGHT RD, C. TEL8, 31196, 25135.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

ARRIVALS FROM U.S.A.

M.S.

"OLGA MAERSK".

M.S.

"HULDA MAERSK"

M.S.

"GERTRUDE MAERSK”

M.S.

"TREIN MAERSK"

M.S.

NICOLINE MAERSK“

M.S. "PETER MAERSK” ·

AGENTS:

Jan. 18

Feb.

2

Feb. 11

Feb.

4

Feb. 16

Mar. B

For Freight and Further Particulars please apply to:-

JEBSEN & CO.

Pedder Buliding.

Tel. No. 36066-9,

Dates and rotation subject to change without notice, "At" flberty" to proceed `vla otier-ports-to-load/sizeharge~ cafço,"

The Rubber TO CHECK

Markets

London, Jan, G.

Prices of rubber fulures closed i"

today as follows:- Number 1 rubber,

י་

an pence per lb.

February...

March....

April/Jun

July/September

Detober/December

2016-12

20-20%

2314 20

2215 2014-15

United Press.

NEW YORK MARKET

New York, Jan, 0. Prices of rubber futures closed 10 to 20 polats higher with sales totalling 14, contracts.

per cent of their rated capacities. Although they will be making just as much steel in coming

July months the operating

rate possibly will be under 100 per cent.

That is because the capacities of the various companies ore figured by the American Iron and Steel Institute cach January and new ratings for 1953 are due now.

the

past

1.00

Expansion during

es

of steel-making capacity and

year added about 7.230,000 tons

3000 135 boosted the nation's total to an estimated 116,000,000 tons. Ex-

5000 20

pansion

still under 'way will jirt that

120,000,000 what gure to tons by this time next year.

Many steel products, hard to get now, are bound to be sizable quantities available in by mid-summer or next tumn-Associated Press.

.... 10.10-10.30 700 160 Japanese Trade

Rope BTORDS, ETC.

Dotry Watson COTTONS

Etó

..... 20.30 2015

10.0019.20 1500

With Mexico

March May

September December March Spot

ON RUBBER

SHIPMENTS

Singapore, Jan, 0. The Malayan Rubber Export Registration Board will send representatives to foreign ports to check ahipments alleged by purchasers, to be inferior, it appeals are by Singapore made packers,, It is understood

The step follows repeated

appeals

by local

packers to

% the form of protec-

29.00 bid 20.30 bia

27.53 nominat nominal BL00 United Press,

20.30 nominal claims

Grain Prices

In Chicago

Chicago, Jan. 6. Prices of grain futures closed today as follows:- Wheat-price per bushel Spot

2.7734 nominat 2.295-3 March

2.33

2.34

1.0374

RU-

May July

September Corn

Bpot

March

1.8215-1/63

May

July

1.0813-1.GE - 1.07

Septemb

Пус

May

July

Onis

Marchi

May

Mexico, City, Jan. 6. Japan's industry is rebuilding at full speed and is now in a position to increase trade, with 1layashiya, Mexico, Elkichi

buyers.

allege that "fantastic have been made by The Board

will only send representatives to a foreim port to investigate a claim if it was considered serious,

to

The repreamtative will report

to back

the Board for further action,

The Board is also considering other stops

prevent the packers from being victimized. The matter may be brought up for discussion again at a coming meeting in Penang.Reuter,

LONDON TIN MARKET

London, Jon, da: The lin market was quiet and easier. Turnover was 40 tons,

for casti Including 15 tons Prices cloned at the end of the offcial morning session as fol- ****

*1.761⁄2 nominal lows:-

7813

Bput tin buyers Bpot 1 zellery Bulées done at Trave-months. 111, Now Yark four-per 200 16. Back. Three-s

Bomeone's $17.59.-United Press.

aattioment

045-047

040

buyers din selera

United Pres.

Commercial Attache to the NY Stock Exchange JAPANESE BONDS

Exchange Rates Japanese Einbassy, mald today.

– Business was done in the local

gial,

marathi

will be contribuied by mercam And the backwash of this anomena and mar file interssip, and the public development has so seriously 18, doline (per 13: foday for India carrying the first

payments Bierling, nolo (por el} Several panels of directors will getodappan's delivery of Argentine wheat to

working of that her cam worry seesian gulkiery (per 1001

|Klám ticola iper (100) that country under the trade supervise the 300 nominal agreement between the two various divisions of the cor longer the abundance of Sterling singapore: (suite),

but the lack of it.

Vis) plastres (per 100) apri countries-France-Preise.

poration United Press.

50.78

shind krém,

Mr Hayashiya said Japan was

Now York, Jan. 6. interested in obtaining

Dow Jones zlveral

averages at the Mexican comm-cifica including end of the stock market session cotton, call and minerals and alood as follows: "! was in n position to offer In-

202.10 30 Industrials [20, rails...;. exchange. Inlirood- -- équiminent; electrical parts .ում

62.43 15 utilities imanufactured articles, United 40 bonds Prost

many

110.23.

98.90

Inited Press.

London, Jam 0.

Japanese bonds.

"A" (4s. of 1800) J. "E", (48. ol' 1010)" "C"! (Bs, of 1907) "D" (58. of 1934). "E" (51⁄29, of 1930)

434. 10734

United Press,