1953-01-08 — Page 9

MARITIMES

MESSAGERIES

M

Arriving Leaving

+

#FRY-HILL”

"MONKAY"

"BREST"

Jan.

JAIL, 20

Bertung Jan, 1 Jan. 7

Hongkong Jan, 9 Jan. 9

...Feb.

M

Gutward For

Japan Homeward For

4.

Feb. 10 D

"LA MARSEILLAISE”, Pob. 12 Ftb. TA

For passenger and freight.

Africa & Europe

N. Africa & Europe Marseilles vis Manin

For freight to Sulgon, Marseilles, Alglers, Tungler, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.

• Accepting cargo:

vla Marseilles to all Mediterrancan & West Africa Ports, vip Djibouti to Madagascar.

Bubject To Change Without Natire.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

EVERETT

Tel. 26551 (3 lines).

LINES

ORIENT LINE

Fast regulur freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta' and

Chittagong.

"LENEVERETT"

Arrives Sails

Penang,

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

Rangoon & Calcutta,

"BRADEVERETT” ·

Arrives Sally

Jan. 30 from Manila Jan. 31 for

Singapore, Rangoon & Calcutta,

(Accepting cargo for transhipment Kobe/Puan and Kobo/Okinawa)

Peng,

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 Salls

Jan. 12 from Japan. Jan. 13

for Singapore, Port Swelten. ham, Mndras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah Balirela.

&

M.S. "STAR BETELGEUSE”

Arrives Salls

Jan. 22 from Japan. Jan. 23 for Singapore, Port Swetten- DIT, Mndras, Colombo, Bombay, Karachi, Kharrom- shohr, Basrah & Bahrein,

(Accepting cargo for transhipment Kobe/Pulan and Kobe/Okinaws)

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

Strength Of Jap Silk Market

New York, Jan. 7.

THE CHINA MAIL, THURSDAY, JANUARY 8, 1953.

Page

Coal Offer To Remarkable Record Of ROYAL INTEROCEAN LINES

Pakistan

Brisbane, Jan. 7,

Coal at cut price will be offered to Paklatan by the Atato Queensland, Premier, Mir Vincent Gujr. announced tonlelik

He said this would be Dossible after

the mechanimation of the State. owned Collinsvale zine, which will probably be completed about Junë,

Mr Gair added that the eul in price would be sub> stantial and the detalls of the offer would be for. warded to Pakistan in a few days.Renter.

Sulphur Shortage Whipped

New York, Jan. 7. The free world has ap- sulphur parcully whipped the shortage in somewhat less than

a year.

P

A year ago the shortage was acule, with avatinble supplies lagging about 10 per cent be

This hind demand.

caused serious cutbacks in many im- portant Industries, because sul- phur is one of industry's most essential raw materials.

new

Just 12 months ago, u world- wide search was under way for

of sources

sulphur. Numerous projects were launched 10 recover sulphur it from various gases whero was being wasted in and smeltering processes.

British Government

In Fighting Crisis

UK RETRIEVED FROM DISASTER

London.

The economic record of 1952 has been remarkable for three things, says the "Financial Times."

First, and most obvious, the country has been retrieved from disaster. This time last year the new Conservative Government was grappling at once with the insecurity of its own political position and the balance of payments crisis.

Now, not only is the Government self-confident, but the United Kingdom is in surplus with the rest of the world and gold is flowing back into the Sterling Area's

reserves.

With the texule crisis mostly. ; necessary savings

antist

either

a thing of the past, production is † come from greatly increased pro- rising ngain.

duction at home or from restraint in consumption. Otherwise the result will only be inflation from which will stem new balance of payments crises.

the

Secondly, there has been a sublie though significant change in economic method. At the centre,

machinery Dt monetary control has been put in working order and the Foreign Exchange market reopened; at the circumference there is there is an impressive parade of commodities in which either complete or partial freedom has been restored.

zinc,

bas

been

Teo, lead, cotton, cocoa and enffee ore now to be joined by ne, linseed oil, and the humble banana; for the new year, eggs and grain have been promised; they may even be joined by copper.

THE FIRST TEST

Savers and risk-takers will re- quire real incentives. The first test of 1953 will be to osk whether these are forthcoming.

Secondly, the compulsion of the market place must Lot merely be imposed upon the private sector of the economy.

The Government must look to its own affairs. During the first nine months of the present nancial year the Budget defeit has run out far beyond last year's to the tune of £345m. (There was Intended to be a

Improvement). relining

So far, 28. of more than 10 projects are already paying off. Located in eight nations, these 28 projects have resulted in more than 900,000 long tons per year of new productive capaci- ty since January 1.

Today, sulphur supply and temand are about in balance. according to Industry sources.

six

The International Materials Conference, which has allocated the muterin since the carly noted days of the shortage. that a cubstantial. improvement in the sulphur position 2300 taken place in the lust months.

The Conference

ence an- nounced a sulphur allocation of 1,675,100 long tons for the first quarter of 1953, which is slight- ly more than the amount for the current quarter, and said:

availabilities

**The export and import requirements for the first quarter of 1953 approxunately in balance."

are

Among the new sulphur pro- rafiks jects, the United States first with 16, accounting for about 700,000 tons of new pro-

Canada i duction annually.

Alve und second with

about 64,000 tons, and Mexico is third with two projects and 13,000 tons. Single projects are listed

Norway

tone, Sweden, 14,000, Ecuador. 10,000, England,

and Austris, 5,000 tons.

for

75,000

10,000

It is estimated that all so or the new projects will produce about 4,000,000 tons of sulphur by the end of 1855,

Allocations for the first quar- The Japanese silk markel, which has been character include: Argentina, 0,500 terised by firm demand in recent months, has turned even stronger, New York importers report.

In few of these thing has freedom been complete the operation of the gay polley has been notably cauliona even to the point of midity. But the fact remains that over a wide range the price mechanism hos been allowed to work; »

CREDITOR STATUS Finally, at the Commonwealth Conference there has been a new assessment of the task that still lies ahead.

It is a commonplace that the

of 1952

successes

were precariously hered, declares the It needed no conference paper to make this plain. But the early

stages of the return to convertibility have been brought into the reach or practical polities. And United Kingdom has announced

1963.

In spite of all official dentals, there can now be no doubt that the Budget cannot be balanced in the next three months.

can be по

Equally there question that the fulfilment of the alms of 1953 will involve not only a balanced Budget, but a

reduction in taxation as well.

THE SECOND TEST

On the one hand the Govern- ment must not undo the good work elsewhere by itself causing Inflation.

On the other hand, as the Chancellor has himself acknow- ledged, greater incentives cannot be given unless the burden of the taxation can be reduced

The second test of 1953 will Its intention, with chapter and be a double one. Is the Budget verse, of becoming, and remain-balanced and in such a way as

a creditor country.

to Increase the incentives to The fulfilment of this intention saving and production? Further, remalns as the main task for as the year develops, is the frame of the Budget holding What does It entali7 In firm? general It entails a further and To control the Budget when it necessary a more painful | inflation is not all the time advance along the path on which artificially blowing up revenue

already is a formidable last. the Government has started.

neod for it in 1953 is absolute, the Financial Times" concludes,

PRICE MECHANISM ́

the use of the During 1932 price

mechanism has been at the best experimental. At its most important point-the control of the price of money-it has, been inhibited by political necessities, WALL In the long run it may well have been the right statesman- ship for Mr Butler to soft-peda! the rate of interest (by keeping the Money Market out of the Bank, except for very rare oc

as there casions), as long any danger that the textile crisis might develop and spread.

was

But the

HONGKONG

SHARE MARKET

Bright Trading Year

Prediction In U.S.

New York, Jan. 7.

A bright year for exports and imports is predicted by US. Government and busi- ness sources.

to

Exporta may come close

1952 level the relatively high during the new year, a Govern ment report said. It warned, however, that decline In American

shipmmts abroad is in prospect in 1954,

Judging by sales of Imported merchandise

leading partment stores In 1952, tailers say they will

will buy as much and possibly more from foreign manufacturers in 1053.

In

de-

10-

the

On the export side, Government report said there Is reasonable prospect that other nations will have enough dollars available in 1933 to from

maintain their purchases the United States.

re-

The forecast was based On the assumption: that "the needs for military security will

expenditures quire continued abroad by the United States

will ha Government", there combined flow of private in- vestment abroad, and United States demand for imports will rise more or less in proportion to domestic production "if a high cutrut relative to produc- tive capacity is maintained in

this country."

THE QUESTION

The report warned, however, that "the question still remains whether there will be sufficient demand to maintain exports."

It added that "many of the factors which created the very favourable

export market for business in the immediate post-

war

years have gradually weakened and in the longer run can be expected to disappear."

The report pointed out that foreign production of factured goods is

monu-

growing

meeting larger share of

В

domestic needs and supplying more for export markels. It also said inflation-a primary factor stimulating foreign de- Business done on the Stockmand for imported goods-"ap- pears to be more successfully

(From Our Correspondent)

trans-

ex-

It was not only a political but Exchange this morning amount-controlled in most industrial a national necessity that the cd to $348,681.90. Nuon quota- countr

countries, and the need for termal economic assistance by Conservative Party should rid tions and the morning's long tons; Australia, 37,500; itself alike of the charge of war-actions:-

these countries is diminishing." Austria, 5,000; Belgium-Laxem- mongering end of promoting BARES BUYERS GELLERA BALES Meantime, rome

of New bourg, 12.500; Brazil, 30,000; unemployment. Untrue though

York's largest stores report that Canada and the United States, these charges were they had to BANKE

goods sold as well as Colombia, be disproved. 1,100,800; Chile and

Cuba. 4,400;

Denmar

Now, however, if the economy Dominican Republic,

is to be

s to

be made

responsive to 2,300

world changes and this is vital demand in Japan has kept Finland 8,500; France,

Only Japan's stabilisation law is preventing runaway prices in the current market, these sources said,"

In New York, 20 x 22 A As has been

at around $5.48 a pound, while Dupioni is listed at $4.00 for nearby delivery.

the caso for

Japanese sellers are reported foreign purchasers to compete Indin, 22,500; Greece, 600;tended and its effects must not

A January and March prices several cents a

quoting $5.25 a pound for

for

grade 20 x 22's shipment, with February

ax

7,000:

1K Bank East Asia INSURANCES

Canton Union Underwriters (20

+4

181

200

!טר ....

Waterticat... 14.29

Pt. Whart 8.00

的

“TJIBODAKS

#VAN BEUTA2"

*TASIAN"

#TSILUWAI

BAILINGS

JAN.

48

21.16

"TJITJALENGKA” JAD. 22

*TJIPONDOK"

Jan. 23

"TJIDANTJET"

"TJIWANOT*

Jan, FAD.

Feb.

Feb. 5

Feb.

Feb.

TAHSIAN" "B013EVAIN" "THAAT

- MAKABRAR" "TJIKAMPEK"

"TJIMENTENO"

LOTJILUWAII“

“DOHREVAIN"

"TJIDANTJET"

"TASMAN', "TJIWANOP

Feb. 17

Feb. 15.

Feb. 22

Feb.

23

Feb. Mar.

E

“STRAAT SOENDA" MAT,

Mat..

Marc D

TAK.

14

.

17

"TJIBODAB”

*JIBADANE"

"TJILUWAT"

**TASMAN"

"STRAAT

MAKASSAR

"TJIWANGI"

Apr,

"TJIBODA 8"

"VAN BEUTSZ" *THLUWAIP-

· Djakarta • Bemarinys“ Mirabala a

Mecantar

Singapore. Delawan Deli, nouniem,

Durban & Br. E. Atrien Kingapore,-Penang & Belawan Doll Bibgapore, Djakarta, BIOSTARS)

BATH WAIn, à Matamar Bingapore, Djakarta, Mápírithes

Mi Bleken, & 8. America, Djakarta). Bemarang, Hurabala

Japan sikgapore,

· Diskarta, Surabals & Macasar Зарад

JADĄ

Гарад

Jakarta Kematang. Sutabala

Alcest

*

Mania, Singapore, E. & S. Africa &

A. America

Singapore. Blakatto. Bemarang.

Barabala atacassar

Singapple. jakarta, Maurilios,

8. Afelea à 8. America Djakarta Remarang, gurabais

Messa

Sincabore. Penang & Belawan Dell Singapore. Djakarta, Semarang,

"Burabala & Maraxtar

Japan

Djakarta. Semarang, Antabata

Macassar

Зарад

Bingapore. Djakarta,

"Surabala & Macaviar

Japan

Bemarang.

Blagapore Djakarta, Mauritias,

Atrica di 8. America Alzzapora, Djakarta, Acmarang,

Butabala & Macassar

ARRIVALS

In Port Jan. 10

12

Japan Japan

From

Backesar, Burabala, Semarang,

Djakarta Bingapore

TEL. 28015/18.

KING'S BUILDING, Ground Floor CHINESE AGENTS: 82 CONNAUGHT RD. (). TELS. 31106, 2518%,

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

"OLGA MAERSK”

M.S. "HULDA MAERSK”

M.S.

.M.S,

I

"GERTRUDE MAERSK”

ARRIVALS FROM U.S.A.

M.S.

TREIN MAERSK”

M.S.

"NICOLINE MAERSK”

.M.S.

"PETER MAERSK”

AGENTS:

Jan. 18

Feb. 2

Feb. 11

Feb.

Feb. 16

Mar.

For Freight and Further Particulars please apply to:---

JEBSEN & CO.

Pedder Building.

Tel, Nos. 36066-9.

Dates and rotation subject to change without notice.

At liberty to proceed via other porta to road/discharge cargo.

INCREASE

IN STEEL

CAPACITY

Grain Prices

In Chicago

Chicago, Jan. ̈ ̄7.***** Prices of grain futures closed today as follows:- Wheat-price per bushel

Spot Storch

New York, Jan. 7. The steel capacity of the United States

Increased Nev July by 0,050,000 tons a year in September 1052, the American Iron

and Corn

was

101415 Imporic produced articles capacity ever made in a single July

500 $ 6,00 Provident, 19.30 13.30 3500 & 13.00

What Dock

Wheelock Wheelock

106 7.90 60 4 7.83

Grade raw silk is being quoted several months, heavy domestic | Ecuador, 1,000; Egyph 37,500; the range over which the price!

prlees at the ceiling permitted French North Africa, 24.500 mechanizm works must be ex- SHPPING by Japanese. Jaw, leaving Germany,

Israel. 1,500; be too much cushioned, the paper DOCKS, ETC. for the remaining silk avail- Italy, 42,500;

Japan. 38,000; believes.

This means a more able for export.

Netherlands. effective use of the Bank Rate; Mexico,

13,500; 700; Negz Zealand, 24,000; Nor-

Nor-if there was recession Forward purchasing is being

Pakistan, 300: America It might

mean that t tione on a large scale as buyers

3,000: Sweden had to be raised. It means that assure themselves 19,500; But there is very little raw sigh silk to cover milimum Union of South afrien, 21.200; rationalised, without a propes

Switzerland, 5,400; the

of housing must be silit obtainable for

requirements

shippers are asking United Kingdom, 83,000; Uru- distribution of housing there can

KURSAI | LAND, ETC. Jammitments

of labour, It guay, 2,000, and Venczucia. 500

be no mobility

HK Hotel that

bo made lans.Associated Press.

means above all that higher well shoad. Futures prices,

prices for the things that the

INC Land (0) BOYS Land (NS consequently, have been

world wants must be allowed to draw productive resources, talent and labour into the pro- duction of the right goods.

pound cheaper.

January.

Cotton Sales

?

By Brazil

of

seek

firm.

American sources

ex-

say the

high price of silk is hurting New York Sugar

its promotion in this country because some mills refuse

Its

to

pay the price. They say the market can only maintain expansion by lowering prices somewhat. To accomplish production will

have to much

greater

this

Futures

A BEGINNING

Rio de Janeiro, Jan. 6. President Getulio Vargas to day authorised the Bank of Brazil to seil 220.000 tons catton directly to foreign cus- tomers in an effort to improve

Japanese producers aro dollar Brazil's precarious

ported to bo making balance,

out effort to increase cocoon

Contract No. 6 closed un- President Vargas

to acted settle the dispute between his put to match the widening de- changed to 5 points higher with Finance Minister,

Horacio mand, but the amount of silk sales totalling 707 contracts. Infer, and Ricardo Jaffet, Pre sident of the semi-oficial Bank of. Brazil,

A beginning has already been made. At least some New York, Jan. 7.

of the World

sugar futures closed preconditions for success are Steel production is be unchanged to 3 points lower present.

with sales

steps are being totalling 250 con- | rising; speciat re- treets.

Laken to promote the exports of aircraft and to consolidate our every

lead in this field. .......

But what remains to be done is much greater. and is much more dificult.

LX-

At

Central No. 4 (world)

· 3.01 bid

available in 1953 is not pected to meet Hemand.

that March present it is estimated

May July Mr Later was opposed to Mr cocoon yields at least 10 per

September Jaffet's plan to have the Bank cent below needs of the reel-

October negotiate for the sale of cotton Ing industry.

January March May Spat

with Ereign customers and American imports of silk' in finance Itself purchases from 1052 were far ahead of those Brazilian producers.

in 1931, when only 39415 bales President Vargas is ales cx were sent here. For the first of 1902 receipia pected to authorise the Bank to 12 montha sell cotton on the International totalled 60,297 bales, Stocka in equal market at international parity the United States gro prices which are below the Into about one month's supply, of prevent des tornal Brailian prices-United on the basis

liveries, Associate Press. Pro

3.01

3.8 bil

3.02 Uld

#G4 nominal 3.00

Especially in two spheres a big

in

S'hai Land

UTILITIES

Star Terry

2.00 2.00 1800 A 283 200 2.00

3200

10.000

23316-34

2.3436-7

23433-34

********

33,501

It

Steel Institute, reports,

was the largest

Spot

1,654 nominal

gain

in 1 March

16492

May

1.59%

have been

year and increased the annual September

Rye capacity of the Industry to B record 117,547,470 net fons.

1.05

May

1.7915 bid

July

2.034-12.

The new capacity represents O

an increase of 25,050.010 not March

May.

2033-16

In 1952. In Rome cases. they said, more imports could been sold if stocks had

available Associated Press.

Competition On

The Increase

lons, or about 30 per cent,・ In the seven postwar years as a New York four-per 200 II. Back.

*** | #1253 nominal-United Press. result of the

stcel

companies huge expansion and improve ment programme. It also is a

more than 35,000,000 NY Rubber

tons, or 44 per cent, in 18-

.01

Chicago, Jan. 8.

ycare-a figure nearly twice Manufacturers of homo the total annual capacity

Now York, Jan. 7. furnishings, expecting to fight. Great Britain, and in extens of

Prices of Number .. 7.50 7.00 1330 @ hard for profits in 1953, will the total estimated capacity of futures closed today 50 to 85 1 rubber 0003513 draw battle lines at Chicago's Russia, second largest stoel-points lower with sales totalling

annual Winter Home Furnish-making nation.

Dealings wero 10 contracts. ings Market.

The new wookly capacity featureless. Spokesmen for the industry.igure, on which the weekly

In the spot market, dealers 22.40 which will be host to thousands operating rate of the industry reported relatively low-pricod 25 of buyer at the 10-day Baritet, will be based, is 2,254,450 get offerings from Thailand while 9.40 scem agreed that competation for tons of ingots and steel for factory buyers simultaneously

the home-aloor's doll will casting, compared with the bacleod away from the market.

keen in the rated capacity of 2,077,040

Prices closed today as

(8) મન

Tran...

23.30

C. Light (0) -

Eirculo

23.70

23,70

not

33.70 months

Macão

112

Telephone, ....-19.30

20.10 7:00 # 20

As a result, manufacturers are introducing some unusual. gadgets and bargains to

1052.

tons a week at the, start of follows:-

March

Other facilities in the Indus-suly

May

drow

try

and September,

December

Compat INDUSTRIALS

29.10 Bope 20:39 2015 STONES, ETC.

10,00 Watc

linós.

300 30

223.20 26.00

OTIONA

SOUS

5.00

advance will have to be made if MSCI 1039

tb

be

Year in which

the phoney post-war economy is

once and for all to be felt he

si

also were expanded 400 @ 10.20 consumer attention to their improved. Blast furnace capacitarch

ly went up 8,507,000 tons dur- Spot The buyers who will focle † ing 1952′ and; was'rated : ¡at through the merchandise mart 70,380,240 not tons a year lat and the American Furnituro Mart will be shown fabric art of 1953. Coke oven capacity was increased about covered refrigerators,coffee 4,100,000 tons in 1952 and now Lables topped with alainless, is rated "ut, 71,181,110 net tons sicel, and bundreds of other a. year.-Associated Proam f more or

less revolutionary

hind in its dead and design Exchange Rates

pickle of defensive despair

Unfus

The plain coroll

permanent surplus on the Un!

Tasha was done in the Kingdom's balance of payments untitlelal

exchange, market

is that there must be a rien in dig at the followin rates

xavings,hisky investment

real

Contract No. 4

March May July September Spot

5.50 bid

5.03

4.04

In the, undas developed countcles

U.8. dollar i906, #1), stelognoto ip sk£1 indonesian ru

November

5.97 bl 5.00

demand an

ric paties (dog 100);;

the Cominonwanish will tests per 100)

ndoquine reward, the

Itoms.

Appliance makers, la partien-

ar, will offer real turprisen, JAPANESE BONDS

One dim, for example, it ready Iceel with a dishwasher-in-a-range. "Ulir | Anolier" - Han. combined

8.003

clothes washier and strier. In a 16 single unit. And a' retrizerator 100) · £25,09 | 1k, offered that makes fĉo with-

out willising trays Associated

Jarionesa, bonds

20.75 nominál

23.75 bid

27.10 moninal

27.39 nominal

27.30 nominal

“United. „Press.

BRITAIN BUILDS

· HELICOPTERS Konton, Tập, Six of Britain's-10 major alw craft companies are building or experimenting with helicop

But Britain. which has logged London, Ja, 7.

helicopter development,;; only producing three- domestic Hal: 215 helicopters plus Sikorsky (01), nýst

of 1934)

3. DE 1930)

modela 106 which are manufactured bare under licence. Associated

Fress.