1953-01-16 — Page 9

་་

Page

MESSAGERIES MARITIMES

M

"FBY-HILL”

Arriving LekVİDE

Jan. 28 Jan, 19

"LA" MARSEILLAISE". Feb. #t

1"BREST"

"FAY HILL"

Feb. 13

Feb. 9

• ANTAR

Feb. 10

Mar. 2

1 Mar. B

"LA MARSEILLAISE". Mar.

For passenger and freight

M

Japan

Yokohama & Roba Homeward For

2. Africa & Ellrope N. Africa Europe Marseilles via Manlia

For freight to Saigon, Marsellies, Aiglers, Tangier, Casablancs, Havre, Dunkirk, Antwerp & Rotterdam.

Accepting cargo:

-vla Marseilles to all Mediterranean & West Africa Porta. -vla Djiboul to Madagascar.

Bubject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 68, Hongkong

Queen's Building (gr. floor)

E

Tel. 26851 (8 lines),

EVERETT LINES

EVERETT ORIENT LINE

Fast regular freight-refrigerator---passenger Bervice to Korea, Japan, Philippines, Indo China, Siam, Malaya, Rangoon, Calcutta and Chittagong.

"LENEVERETT"

Arrives Salla

Jan. 18 from Manila. Jan. 19 for

"BRADEVERETT"

Arriver Salla

Penang,

Singapore. Rangoon & Calcutta,

Jan. 30 trom Manila

Jan. 31 for Singapore,

Rangoon & Calcutta.

(Ascepting. cargo for transhipment Kobe/Pusan 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.

"STAR ALCYONE"

Arrives Salis

Arrives Salls

Jan, 23 from Singapore. Jan. 24 for Kobe & Yokokaina.

M.S. "STAR BETELGEUSE”

Jan. 24 from Japan, Jan. 25 for Singapore, Port Swetten- hnm, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein,

(Accoping cargo for tranchipment Kobe/Pusan and Kobe/Okinawa)

THE CHINA MAIL, FRIDAY, JANUARY 16, 1953.

Temporary Extension

British Drive For Capital

Canberra, Jan, 15,

Australia's Conmerco Minister, John McEwen, sald today that Britain would scrape the bottom of

barrel The

to produce capital for the Comman wealth development need. la

to meet commitments at the recent London Com. monwealth Prime Mala ters' Conference.

A private group would also try to assemblo funds for development loans to Commonwealth countries. he Reuter.

Export Of U.S. Farm Products

Washington, Jan. 15. Secretary Charles Brannan, in his final report as head of the U.S. Agriculture Department, sald today farmers face restrle- tions on production unless they can keep big foreign markets built up by World War II.

10 **American agriculture," caid. "is touted up to export at the highust rate in our history."

cord After expending to record proportions during and after World War 11, exports of farm products started declining in 1852. Foreign trade restric tions, a shortage of dollars abroad, and a reduction in U.S. economic ald to foreign coun- tries contributed eline.

to this

sald

FRICE SUPPORT

Of U.S.ROYAL INTEROCEAN LINES

Foreign Trade Bill Believed Possible

SPECULATION IN WASHINGTON

Washington, Jan, 16,

Informed Congressional sources are beginning to speak of the possibility that no positive action other than temporary extension will be taken on the Reciprocal Trade BII) which is due to expire on June 30.

Under the law the U.S. can cut import duties as much as 75 per cent in return for concessions received from other nations on customs duties.

Bome Democrats believe that the question of foreign trade should be taken In conjunction with the Mutual Security Agency programme rather than as separate and distinct project as it has been in the past.

The slogan "Trade not pid" ; speculation

as to the possible

has been elted with Increasing | revival of isolationist philosophy frequency by many public | in the now Congress, oMcials and privato Interest Proposed changes in the rates groups such as form federations of even minor commodities are and some union groups.

likely to arouse worldwide in- torest until the major trends of the US, policy become apparent.

With the gradual lesiening, and дл eventual end, of enconomie aid by the U.S. to the European nations, these officials feel that the trade programme must be revised to nil the re- maining dollar gap.

de- believed that the majority of

These

to all the gap.

GENERAL TRUISM

RESENTMENT ABROAD

The background situation In world trada foreshadows in- In the ternational resentment

representing

Debate On Aid Funds

at

TABMAN"

"BOWSKVAIN"

"STRAAT

MAKARBAR"

·HTJIRAMPEK"

BAILINGE

Jan. - 15. Jan.

Το

Singapore, Penang & Belawan Dall Ringapore. Ujakarta, ROMATEBE,

„Buradala A Macassar

singapore. Djakarta, Mauriisur,

8. Atrien à 5. America Djakarta Semarang, Mirabain

Alckmar

Tapas.

• Singapore, fjakarta, „JEMATARE,

Surabaik de xenitAr

Зарад

**TJRJALENGKA"

"TILFONDOK"

*TJIDANTIET"

12

Jaz.

"HWANGE",

Feb. *

"TASMAN"

Feb.

5

Гарал

Feb.

Japan

Feb.

•

plakarta

Feb. 11

Feb. 19

Feb. ** Feb. 23

Feb. 23 Mar. 2

· “TJIMENTENG“

"TJILUWAR* "DOÍSEEVAIN**

“TJIBANTJET"

"TAMMAN"

"TJWANG"

"STRAAT BOENDA”. Nur.

TJIRODAB"

Mar.

SUTADATA

الله

semarang.

Komarang.

Aiacaesar

stania, Sinexporr, E. & S. Africa &

8. America *

Singapore.

Djakarta,

Burabala & hincassar

Singapore. Diskarta,

Maurillus.

8. Afrien & B. America Djakarta Remarang, Rarabala

Macassar

Eingapore. Penang & Belawan Nell Singapore, Djakarta, Hemarang,

Burabala & Macasan

Japan

Djakarta, Semarang. Autabala

Placassar

Bingapore, Djakarta. Semarang,

Burabala & Sacr

"TIILUWAN"

blar.

14

4

TABMANI

THADANE".

17

Japan

ASAK. JT

Japan

"STRAAT

МАКАЕВАП"

Mar.

Blogapore

TJIPONDOK**

DIRT.

Djakarta,

Macarest

*TJIWANGr"

OTIPANAR"

Apt."

2

Apr. 3.

the

New York, Jan, 15. Both on Capitol Hill in Washington and Eisenhower headquarters here they are reported to be debating today: How many more billions of American dollars do U.S. allies actual. ly need as economic and military aid?

President Harry Truman has asked that Congress approve un- other $7,500,000,000 for spending in the current fiscal year will be In the future. Actual spending

around

some Republican law-

All commodities from 109.5 to of 91.2, foodstuffs from 95.8 to 80.7, 119.9 to 94.3, livestock and dairy e- raw industrial commodities from products 82.3 to 05.0, textiles and

But $5,750,000,000. bres from 118.7 to 93.9 and fats

75 59.5. and oils from 16 toi ave been makers say that about $5,500,000-

As foreign countries selling commodities to the U.S.000 that Congress plready has a declining average of unit appropriated for foreign aid re- values, they will be more than

and unspent

svallable And changes or legislation here that added

before the

to

contain more

moins пош.

usually sensitive to any policy $7,500,000,000, mere

they 03k why

At present, for example, there is concern in all wool-growing countries 13 to the new Administration's policies affect

must

be

money

Fiscal authorities, meanwhile, Say that in recent months the "dollar gop" has been shrinking that other nations' reserves of ing the international wool trade.ng, so that economic all is not gold and dollars have been grow- United Press.

SENATOR'S VIEWS

the acu

acute need It was in the carlier post-war years.

"TJILUWAI!"

ך >

Djakarta,

Brauriting,

Surahala

Bemarang,

B. Aftier & 8. America

Singapure,

DJakarta,

Surabaia & Machosar

Manila, Ringapore, E. & 8. Africa

ARRIVALS

Rurebala, Semarang,

From

In Fort

Mincarnar

Dinkarta & Ringapore

"TASMAN"

TJITJALENGKA“ Jatt. "TJRYANOJ"

Pert

Japan

28

Japan

20 Jan.

Djakarta,

Kurubala Semarang.

&

Maeswar

TEL. 28015/18.

KING'S BUILDING, Ground Floor

CHINESE AGENTS; #2 CÒNNAUGHT RD, C. TELS. 31196, 26138.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "OLGA MAERSK" M.S.

*M.9.

"GERTRUDE MAERSK”

"HULDA MAERSK"

*

Calling Vancouver.

M.S.

"TREIN MAERSK”

M.S. "PETER MAERSK"

ARRIVALS FROM U.S.A.

M.S. "NICOLINE MAERSK"

Jan. 18

Feb. 2

Feb. 11

Feb. Feb. 18

5

Feb. 25

For Freight and Further Particulars please, apply to:-

AGENTS:

JEBSEN

Pedder Building,

CO.

Tel. Nos. 36066-0,

The Republican Party, which event of drastle changes being US foreign trade will take control of the National madin

policles toward "protectionism,” Administration on January 20, is known traditionally as The average trend of commodi- "protectionis!"

party.

ties prices was downword in the Some of its members-includ-past year. With the average for ing some members of Congress 1947-1049

100, still favour the outright repeal Labour Department indexes for of the trade programme with American Бров primary market general increases in tariffs on all prices declined from January 2 products imported in competition to November 10 as follows: with domestic Industry but it Republicans are convinced of Brannan sak American pro- the need of maintaining a large duction of tobacco, wheat, cut-scale foreign trade and of the 140

cannot be maintained ton, lard, dried and fresh frulis fact that can be maintained at the pro- without admitting an amount of sent levels only if experts rang imports about equal to exports indefinitely the from 23 to 50 per cent of or continuing ing total production of these com- post-war policy of dollar granis modities can be achieved.

The alternative to maintain

level of the present

cabinet official the

It is generally true that many i might affect the future volume avaliable is used up. exports," said, "would appear to be the

tha | members of Congress favour of imports and prices. re-institution of production reciprocal trade in principle as allotments and a general cut long as it does not curtail the back all along the line with all activities of their particular con- of the inevitable and unpleasant stituents. Thus a member from a consequences which such action region such as New England, for would

which contains a large have for the American contration of textile manu- economy as a whole."

Mr Brannan

many facturers, might be likely

The Department of Commerce foreign countries, historically favour low tariffs generally but

Washington, Jan. 15. among America's most import-high duties on textiles.

reports that other nations gained Benator Walter George, re- more than $1,000,000,000 in gold If a large enough number of tiring Chairman of the Finance and dollar assets in transactions ant markets for farm products, have built up "an increasingly members sponsor exceptions for complex web of controls on

the particular products of their Committee, said in an interview with the United States in the six imports and

exchange."

own regions, the resulting bill today he believed that the new months ended last September

will renew the Re-period in which some $2,500,000- Congress are making it might very well nctions, he

said,

and military difficult to And markets for

exceptions

docs ciprocal Trade Agreement Act 000 of economie than

with little change.

aid was given by the United surplus farm products.

provisions.

The law glyos

sives the Government States. There has been a growing tendency

BRITISH RECORD in recent Years to power to cut import duties as

And the fireL estimates of attempt to get such exceptions much as 75 per cent.

Senator George is a democtal | 1952's foreign trade available in the bill or to sponsor separate legislation affecting certain in- and therefore is in the minority from London shows that Britain's exports to the United States dustries, although so far few of in the new Congress, but his

comment is significant since passed the $400,000,000 mark for these efforts have succeeded.

Mr Dwight Eisenhower, who many in his party fear that the the first time last year, increased will be inaugurated President on mojority Republicans would kill by $10,000,000

gver January 20, is known to favour or severely hamper the Trade before. liberal foreign trade. But Act.

Stu

another factor making the Senator George's comment was economic health of the rest of made in an interview with the the world look belter is the magazine "U.S. News and World continuing high prosperity with- Report." Asked if he thought the United States.

When that the Present supports are largely

would be extended business conditions flourish hero, Act ilmiled to such products DS It is belloved quite possible beyond present expiry date

U.S. Im

Imports June with only moderate both of raw grains, cotton, tobacco and pea- that the Trade Act will be given in.

materials and, of simply a temporary extension changer, be replied:

"I rather

finished nus, which can be stored.

products always..rise. A satisfactory method. Mr pending more complete study, think 10. There is not much Optimistic predictions of in-

Colombo, Jan. 18. Brannan sold, would be one This study might be done by disposition to repeal or eliminate creasing industrial production in

Ceylon has told the Food and Some of the Committee of any provisions in it. which would make perishables in congressional

first halt of 1953 promise | Agriculture Organisation that the available to consumers at pre- by a bipartisan commission op- them are not so workable, but

more fertile markets for other Island expects to produce next valling market prices, would pointed either by the President for the most part 1 think the

nations here.

year about 23,000,000 bushels of benefit producers by working or by the

Congress.

Agreements Reciprocal Trade

The "dollar gap" though paddy more than in 1932. (From Our Correspondent) more directly for their interest, The latter plan was formally Act will be extended with only

still exists, however. shrinking. and would benefit the nation by recommended by the American minor modifications."

exports still

exceed U.S.

"Ceylon's target for next year permitting full consumption of

Form

Burcau which was Coll- Asked if he thought there

Imports the difference

has been set at 00,000,000 bushels usually perishables in large-production

the cerned about

mora insurance might be

of being settled by one form or an- of paddy or 350,000 tons of rice, for every German family," selis in Canada for 1,750 dollar. years."

creases in U.S. exports.

protection for industries which

other of foreign aid.

and la

cheaper The M: Drannan did not mention case Bureau voted at its

Ceylon's Minister of Agricul- | (about £625) can show that they had been 11, but this definition fitted a pro-convention recently

Against all the indications that

ture, in giving these figures, has than even the least expensiva to recom- hurt by war conditions, he ro- extension of plied: " think that is right. I the need for foreign ald may be

requested the FAO to give 'ali Dosal he advanced in 1949 and mend a one-year

however, Averell

possible assistance to carry ou arrived Volkswagen manager in Says Werner Gensen, newly which became known as "The the Act plus the appointment of think it is more an administra-sening,

Harriman, who is retiring Brannan Plan." It was rejected

a commission to survey the prob- tive problem now."

the Government's food produc-

Canada, "The company, in in' The Administration has power Mutual Security Director, makes by Congress.

tion campaign. lem in conjunction with mutual FACES TASK

Canada' International to invoke the escape clauses in .plea for the full $7,500,000,000 and security

Canad the

Plan, Under

Brannon

MOSTLY MILITARY prices of perishables would be relations and to report back to cases of individuni commodities of future aid on these grounds:

its specific recom- when the domestic industry can

Some 70 per cent of it would allowed to move freely under Congress

how that it was damaged by ani mendations--United Press, infuchers of supply

This competitive imports. In practice, go for military-purposes.

and President - clect demand. When prices dropped

however, few such cases have factor, pre-determined support below a

been proven to the satisfaction Dwight D. Eisenhower's interest level, the Kovernment would

Washington, Jan. 15.

of Europe, may the difference

Prospects are that the United of the Government. United in the defence

weigh heavily with the incoming 243 producers through subsidy pay States foreign trade will continue Press. 2.43ments from the Treasury.

the present The incoming Elsenhower at through this year but officials that prices of many basic

of

̈EVERETT ́STEAMSHIP CORPORATION=S/A- Queen's Building, Telophone 31206. Chineso Department: Telephone 28293.

The Rubber Markets

London, Jan. 15.

The rubber market was uncer-

tain. Prices closed as follows:--

Number 1 rubber.

in pence per lb.

February

March

Apiti/June

July/September

24-2422

21-2414 24-24

1314-24

003-2011

United Press

NEW YORK MARKET

New York, Jan, 15. Prices of rubber futures closed 10 points higher to 5 points lower with sales totalling 41 contracts.

20.23-27,15 27.30 bid 27,40 bla 27.00 nominal 28,50 nomina) 20.50 nominal United

Press

March May July

September December

Mirch

Spot

LONDON TIN MARKET

London, Jan. 15.

The tin market was steady

HONGKONG

SHARE MARKET

Business done on the Stock Exchange this morning amount- ed to $300,230. Noon quotations arid tho morning's trans-

actions:

SHARES DUYERS BELLERS SALES 30 a 1420

HH Bank. 1400 1420

INSURANCES

Undan Underwriters

DOCKS, ETC.

་

F 1120

700 7071 570

703

K. WhartY. N. Pl. Whart Dock....... S'hat Dock 1.55

Wheelock

Wheelock

914 100 4 DI

20.

740 758 5500 $100

(33) ..... 24214

and quiet this morning. Turi- |LAND, ETC.

the end of the official morning ULITIES

over was 30 tons, including 15

tons for cash and 15 tons for

Jato January. Prices closed at

K del Shai Land

2.4

sersion as follows:-

Spot 1in, buyers

038

Spot tin. pellers

Business dono at

Three-manths tin, buyer

012

Three-mentha tin, sellers

nusness done at

Settlement

United Press.

Weekly Bank Statement

7.44 75%

500 @ 2.42!

2000

2.42

4400

2000 GN 2,4211 1000

2.4735

5.10 TB

$75 200 @ ET 1.40

22 22.30 500 11 2220 100 22.50 117 110

In his report to the President, the Secretary praised farm price support programmes developed under the Franklin D. Roosevelt and the Truman administrations. He said, nevertheless, these programmes have "grave" weak- nesses in that they provide no satisfactory method for support ing producer prices of non storable and perishable com

as meats, datry moties, such and poultry products, fruits and vegetables.

mako uv

to

whether the Congress will side with him is not yet known.

POSSIBLE MOVE

recent de-

TRADE PROSPECTS

at about

volume

the

ministration is committed to fodities will ba Influenced New York Sugarį

of

L of

price support

for perishables. by the policies and legislation

Futures beyond present farm, the new Eltenhower Administra-

problems, Mr Brannan sald Hon. agriculture 'faces a task in meet- ing food needs of its increasing population.

U.S.

the year

- Dates and rotation. anbject, to_change_wlitiout.notice.

At ülberty, to proceed via other poria to Mad/discharge cargo:

PRODUCTION Volkswagen

OF RICE

from other lands IN CEYLON

D3

Popular In Canada

Tolonta, Jan. 15. Germany's glant Volkswagen motor firm, having sold each of the 200 cars they have sent to Canada, is negotiating for a glo for an assembly factory outside Toronto.: The

Hitler's ear Volkswageni,

British make.

Our

to slay. We have made

United States is spending more i weeding addy, transplanting,/he factory in 1054 if, sales war-

aro

The FAO has also been told

Investment here and that no land will be allowed to

plans provide for spending le fallow

being without

some type, of er service and parts plant will a truly impressive acute. cultivated with food crop.

Steps that are being taken by be officially opened next month and we are considering buying a the Government to produce more site for a factory to assemble cars paddy include intensive methods here. We shall start to

bulla Administration.

of cultivation, the lasue of ling In the current fiscal year the

rant it. We have sold every ent and

The use I manuring.

delivered here and three big than $1,000,000,000 In buying of tractors in dry tone ploughin shipments

now on their military equipment and services for giving better yields is special- from her alles which could also by mentioned as

A new step way." be considered as economie old to towards the intensified scherne of their industries, Continuance cultivation-United Press.. The basic inws affecting

Now-York, Jan. 16.

of this off-shore procurement is. International commerce will be

the World sugar futures closed sought in new oppropriations Harriman says that despite worth of the 33rd compress, unchanged to 3 points higher asked. months of the 83rd congress, in- with sales totalling 150 con-

of extension cluding

the tracia

billions appropriated but "Given favourable conditions,

Reciprocal Trade Act, com-

Contract No. 6 closed un-unspent, the additional billions the answer must be resounding medities price controls and the changed to 2 points lower with should be promised so that con- tracts can be let without delay sales totalling 134. contracts. ly affirmative. It would be as

New York, Jan. 15. decide

for delivery at later dates-fanKS musi Congress The great an error to underestimate size of foreign aid appropriations.

future capaelly of our whether

December steel production in demand, the Mexican Mining the

to

and planes are not produced recommend agriculture on it would be to tinuance of the International

overnight,

the U.B. was the highest ever Chamber wald,

the other hand, plans by and underestimate the futuro re- Wheat Agreement, beyond the March.

About $2,000,000,000 of the attained in that month,

ho US Government to give the quirements of our people." present markeling year July

amount naked would go for output in the final three months the

et 1052 was higher, than any metal its real value os currency Associated Press.

economie old, n considerable part whether to encourage importa of September strategic materials at higher October January prices than the domestic prices storen and how to implement the cam May

promises

for exponding t exports of agricultural commodi-

"Can our agriculturo meet the Lime (0) 8.10 920 1000 918 challenge?" he asked.

**** 231 23.70 950 1 20.40

100 21.00)

Star Ferry

Electile

542 Telephone ..

957 INDUSTRIALS

Cement Поле STORES, ETC.

Dalry

London, Jan. 15. The Bank of England state- ment for

week ending the

January 14 reads as follows:-

Note in etreutation.

Public deposita

Private, deposits

Government securities

Other, securities

Rescipta

Bank ratio

Watson

Crawford

19.30 1000 19.90

10.70 500 → 1014 2010

10.00

19 800 18.30

COTTONS

Evo M............... 210

Exchange Rates

NY Cotton Pricos 'New York, Jan. 16. Prices of contes futures closed today as follorys:

3330 Hominat tics.

22.02.32.051 * Witho

Dusiness was dona to the focal market this 1,473,352,000 tinofficial excliange

45,101,000 morning at the following rates?— 342,673,000 || 11,8. dollar (per #1) Sep 357,040,000 Sterling note (per £1 -23,757,000 Indonesian guliders (per 1001. 25.30

0.0225

1323-4

* Bo0,000 | Slam iicals (per 100)

54.30

21.473

Bodi..... March MAJ July December važn March MAY

3,75-33.75

$3.07

29.66 nominat Kinited Press,

74 Singapore (Siraits)

"-United" Prom" |FIC partres (per 100).

the

con

or

a transition of ment from the Party's traditionally low tariffs to the Republican Party's historio nominal protectionist"

policy there, is Inevitably much international

May

+

Contract No. 4 (sorta)

2.63 pia

4.83 bid 3.49 bid·

3.84

Steel Output

In U.S.

Silver Outlook In Mexico

Mexico City, Jan. 15. Mexlean, allvor production has. a bright future since world out- put is not in a position to satisfy

372 nosinal of it under the Point Four pro- other quarter on record, the in several Asiatle nations con-

W

stramme of giving technicat | American Iron and Sieci Instituto tribute to mako Mexico's

ster, it hadeered A spokesman

advice and assistance to under-reported today.

day. Steel production developed lands and laying the in all of 1952 was the third ground work for U.. private highest on record.

while there is ever-increoaing was silver demand in the New York Investments. Many influential

The

December output. Republican lawmakers favour the DC83,000 net tons, compared with market, the US. Deferido Da- Point Four

the

revised November output of portmont is programme.

using fantastic.. But to En economy-minded 0,438,850 tons. The increase over amounts in its atomic projects, 164 nominal Congress, that $7,500,000,000 December, 1931, was 702,000 tons This will mean eventually that

looks tempting

cont Mexico, will make larger males, as cutting or nearly nine material--Associated Press.

United Press, Associated Press.

$54-5.84.

Contract No. 1-

July

september Novembr Maro Spot

: 5A0

рог