1953-01-22 — Page 9

Page

THE CHINA MAIL, THURSDAY, JANUARY 22, 1953.

MARITIMES Frank Statement By Butler

MESSAGERIES M

Arriving Leaving

"FRY-HILL"

"LA MARSEILLAISE"

"VIETNAMI"

↑"BREST""

"FRY HILL"

**LA MARSEILLAISE"

**VIETNAM"

·

Jan. - 29

Feb. 21

Jan, ከዛ Feb. 23

Star. 14

2

Feb. 4 Feb. Mar.

Mar. Mar. 7 Mar.

10

*

5

Mat

For passenger and freight.

M

Butward For

Japan

*

Yokohama 4 Kabe

Tomeward For

N. Africa & Europe N. Africa & Europe Marschiles via Miamila

Marielles via Manila

For freight to Saigon, Marseilles, Algiers, Tangler, Casablanca,

Havre, Dunkirk, Antwerp & totterdam.

Accepling cargo:

-vla Marsellies to all Mediterranean, & West Africa Ports.

-yla Djiboul to Madagascar.

Hobject To Change Without Notice.

CIE DES MESSAGERIEs maritimES

P.O. Box 63, Hongkong

Tel. 26661 (3 Ilnes).

Queen's Building (gr. floor)

EVERETT

LINES

EVERETT ORIENT

LINE

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

Chittagong.

"BRADEVERETT"

Arrives

Sails

Jan. 31 from Manila.

Feb. 1 for Singapore. Penang,

Hangoon & Calcutta.

"REBEVERETT"

Arrives Solle

Feb. 2 from Singapore.

Kobe Feb. 3 for

Yokohama,

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

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger Bervice to Korca, Japan, Philippines, Indo- China, Siam, Malayo, Colombo, Bombay, Karachi and Persian Gulf Ports.

"STAR ALCYONE”

Arrives Sails

Jan. 24 from Singapore. Jan. 24 for Robe & Yokohama.

M.S. "STAR BETELGEUSE"

Arrives Salls

Jon, 24 from Japan, Jan. 25 for Singapore, Port Swetten-

humm,

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

(Accepting carco for transhipment Kobe/Tusan and Koba/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A “Queen'sTMBuilding, Telephone-31206. Chinoso Department: Telephono 28293.

Germany Planning Trade Expansion

Bonn, Jan. 21.

West Germany, riding a boom that produced its first foreign trade surplus since the war, is aiming at new trade conquests in 1953.

The Germans are planning to invade the Orien tal car market, expand their trade with South America, Africa, the Middle and Far East, and push deeper into the rich United States and Canadian markets.

A spectacular world comeback has been scored

trade ported many German

exports by are subsidised by the Govern- the Germans while Britain and ment eɛkl in some cares German

con- prices are 10 to 15 France-their

per warlime querors have been grappling lower than the British. with serious trade deficits.

ID just four years,

bounded

Germany

up

Hamburg Gets

A Contract

Landon, Jan. 21. Quoting a report by the Hamburger Abendblatt, Lloyds announced today that the Hamburg ship- bullders, II. C. 8iveleken and Bohn, have secured a contract to build a ship yard at Karachi.

Work is expected to lake about three years and 14 German technical staff i expected to remain In Karachi an advisory capaelly after that time. — France-Presse,

Rely On American Goods

Clarifies British

Economic Policies

London, Jan. 21.

In a recent interview with the American magazine, “United States News and World Report,” Mr R. A. Butler, Chancellor of the Exchequer, clarified certain aspects of British economic policy over which a good deal of misunderstanding persists in America.

His frank re-statement of British views on a number of contro- versial subjects came at a most opportune moment.

In a few weeks' time, a Commonwealth mission is expected to go to Washington to sock United States Government help in achieving vital economic objectives. Its task will be considerably easier, however, if American public opinion can be made aware of the problems facing the Commonwealth and the non-dollar world generally.

And it was probably with this | Indo-China. And they were all

military efforts,

in mind that the Chancellor, costly to maintain.

a number of Apart from agreed to answer questions put to him by on American journalist.

the Chancellor continued, Britain and the Commonwealth had done a

great deal to foster the economie development of South and South-East Asia.

It is significant, too, that his

have

been answers should published in America so soon after Mr Churchill's personal "Indeed," bo Bald, "It is fair to

to

Тер

of

New York, Jan. 21. visit to Mr Elsenhower and other say that the Commonwealth was Four of the largest Far leaders of the new United States second to none in realising the

The

We Prime vital Importance of this. Guvernment East countries-Japan, the

avowed ритрове was started to work out the Colombo rement the bonds

of friendship Plan months before the Korean Philippines, Indonesia and

and understanding upon India rely heavily

Wo between war began. We are committed, United States, in the Plan, to release in six the United States for their Britain and the

and Mr Butler's forthright state yours about £280 million of the imports, a survey shows,

should

balances prove of immense Sterling

India, Figures compiled by the help in furthering this cause. Pakistan and Ceylon.

This is an International Monetary Fund The Sterling countries will | Immenso

contribution to the show that in 1961 71 per cent nexxi the halp and co-operation economic development of Asia, the Philippines Imports of the United States if their with all its implications for the came from Ameries. The shares policy of "trade not old" is 12 social and political stability of the area. Hatf the machinery imported into the Colombo Plan area in 1931 came from Britain."

and overseas milfary

of

for the others were:

Japan 33 per cent, Indonesia' 20 per cent and India 38 cent,

per

be fullled.

The right atmosphere in which this policy could succeed, M

was one of expanding Buller said,

Mr

British Cars Popular

of

Wellington, Jan. 21. British-made cars were be-- coming increasingly popular in Malaya, New Zealand and Jagan, Mr A. W. Hamilton Brown,

United representative of the Kingdom Society

Motor and Manufacturers

Traders, sald today,

Sales of British cars and com- mercial vehicles in New Zealand reached the highest last year ever figure for a single year, he

Ninety per cent of the 30,200 cars sold in New Zealand in 1962 and and 15 per cent of the 11.381 commercial vehleles imported from Britain.

Mr Brown Bald Japanese im- parts of British cars were in- creasing rapidly and had reach- ed the rate of £2,000,000 for the Japanese licensing year.

The Japanese proportion was trade and production, including rear trossed the effect of said.

coun-

virtually at the pre-war level. In 1937. Japon got 34 per cent of its imports from this try.

The 1951 share, however, was down considerably from other post-war years, when Japan more heavily dependent un the United States.

Was

In 1949, for example, 64 per cent of Japan's imports were from the United States. The proportion dropped in 1950 to 44 per cent.

India And

of

a high level of nelivity in the expenditure on Britain's balance U.S. Debtor countries should of payments position. "The which WC expand their production at com- amount of resources.

for defence petitive prices and order their are using

in the interual affairs SO 45 to make metal-using industries would be sure that unough was available enough," he said, "If we could for export.

use them for exports, to increase our total exports by about 20 per cont-which would solve our balance of payments problem quite comfortably,"

RIGHT POLICIES

д

"The right policies for creditor country, like the U.S.. the Chancellor said, "include to receive imports, and readiness to to let foreign goods compote in their domestic markets without artificial obstructions.

were

The motor vehicle market in Singapore and Malaya was very active and cars made in Britain becoming Increasingly were popular there.

recently

Mr

Brown,

the 'trade suppusilacation, since the the countries

Reuter.

who

Pago 9

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Japan

From

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Feb.

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S. America. B. Africa, Maurius,

Singapore & Manila

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CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS. 31190, 2513

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the

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M.S.

EAST-WEST TRADE Asked to state the British attitude towards East-West trade, Both Indonesia

In the, Mr Butler sald Britain and her have become greater markets arti Than they were before the war, U. S. that touches particularly N.A.TO. allies were all agreed visited the Far East, and Britain.

added that he considered tariff

tariff that they did not want to help in The 30 per cent proportion for upon

policy and

Far East maritet to be of grent restrictions,

tions, building up the war potential of quota India for 1951 contrasts with procedure,

value to But

potential

Britain, countries. American' legislation, the Communist 'Buy

trade only seven per cent in 1937.

discrimination

representatives shipping

and unless they could get alternative whose For Indonesia the 1937 figure

were paying much attention to pay for them (an motor vehicle die subsidies. Moreover, was 10 per cent--half

requirements of not ald' policy would be greatly import 1951 level.

in the regia. a continuance most likely alternatives would The preponderance of Ameri- strengthened by

of U.S. overseas cost dollars)-they could only und expansion the Philippines und exp in can goods reflects the strong commercial investment, both governmental dispense with Iron Curtain sup

plies ot a serious to their

cost to ties built up before the country and private."

The Commonwealth would general economy and the food became Independent. - Asso-

welcome American investment, supplies of their people. If they clated Press,

and hoped to see a great deal were to get these necessary im- more of it, he added.

porta

from Russia, they must be It also hoped to

the Russians prepared to give steady American purchases of something they want to have. reasonably Russia was not interested in stable and economic prices. This buying would be a very great help in maintaining equilibrium between

HONGKONG SHARE MARKET

1420 150

365 793 13 $30

SHARES BUYERS SELLERS SALES BANKS

5 & 1420 K tank East Ava.. INSURANCES

tinican Underwriters SHIPPING

Aala Nav. DOCKS, ETC.

raw materials,

reasonably see

Gods.

ordinary

consumer

The Chancellor-went-on::“Wz the US, and the rest of the shall continue to observe the world.

Jess than

agreements we have made with

at our allies, while reserving the

of

from

Trade Pact

Revision Endorsed

The Government

Manila, Jan. 21.

Council of

en-

for revision of

the US. Philippines. trade Dent.

special

pung body, at a

called by Presi dent Elpidio Quirino, approved a revolution to initiate negotin- tions with the US. Government. Council earlier had heard

The

a special committee report advocating limited and recipro- cal free frade with the United Statez

range of machine tools, lista Party attended the

80 on,

of the opposition meeting, despite earlier threats

a boycoll

of

The Chanceller replied length to the criticism that right, within those limits, to State today unanimously Britain's expenditure on defence, judge where the advantage of dorsed a move expressed as a percentage of balance lies for particular com- her Etots national product, is modities at any given time," (From Our Correspondent)

that

of the United Referring to

to exports Business done on the Stock States. As he pointed out, it Hongkong to China, Mr Butler Exchange this morning amount takes more than a couple of per- said this trade had been very cd to $232,241.40. Noon quota-centages to size up the relative much reduced. Two years ago, tions and the morning's trans-defence burdens borne by two despite the obvious high degree countries so different as Britain

which Hongkong's economy actions:

and the United States,

depends on the China trade, the LITTLE DOUBT

Hongkong Government imposed a A more practical way of com- total prohibition on the export to items in- paring the relative efforts of two Chine of over 200

dustrial equipment, Including a countries, Mr Butler said, was dustr by considering the impact of wide

of particular on their economies steel products rearmament

metals, importance, and the effects it had on civilian strategie

chemicals, electrical equip Nacionalista Senator Manual standards, both in consumption an

The results Brionos, president pro tempore and investment, and on the ex-ment, purt trade.

Measured by

Comparing the one point on which the Libera-

(Administration) there is little doubt which of the fist three quarters of 1932 with ton

ond the

Nacionalista parties agreed-the making

greater the same period of 1651, total ex- two

and ports from Hongkong were re-necessity

wisdom of Civilian consumption in Britainduced by 43 per cent; the China revising the trade agreement,

known as the Bell Trade Act. in 1952 was expected to be two trade was reduced

President Quirino, a Govern- or three per cent lower than lucent. 1950. Civilian

ment statement said, expressed sullsfaction al the bipartisun held down at

approach to "such an important 21.40 21.30 100 224 level, in spite of the need to develop and modernise our In-

matter."—Associated Press, In the interests of Ute dustries 4000# 920 dusti

grogramme. Morcover, 230 1.20's 1400 VIV

most promising ex- porting Industrica have been 2.60 badly obstructed by rearmament

production.

Mr Butler drove this point well home.

"Never forget the dif

our between

K. Wharf N. PL. Whart Hangkew Provident Provident (New)

... 12.30

1 Dock. Wheckck Wheelnek (11.)

LAND, ETC.

1115 21.00

1.6

500

7.20

600 2,79 sacrifice.

7.70 7.76 3000724

2.70

cent

ITK Hotel

7.88 7.00 7000 € 7.53

Land (0)

07

IK Land (N)

GO

Bhai Land

1.45

UTILITIES

From

en-

P. Tram (0) Sur Terry

10

110

to and their qual!- although not

The mission cald: "It is in West the lines which have been ours from traditionally that the Germans tratie! are

undercutting us. They are nothing to a favourable balance of about 600,000,000 Marks in 1052.

from

selling even own

goods

gineeri ty is quite was as good as o

Before 1948, the Germans had virtually no foreign trade. When

Bonn Government

the

founded in 1919, exports were paying for less than

of the nation's importe.

C. Light (0) 9.15

C. Light (2) 0.15

..... 235

Electric

Intia and Paldistan, which In

Cement one-half rank with Australia and South Africa as Britain's largest over-

In 1952, exports amounted to seas markets, Germen dishORES, ETC.

10,000,000,000 Marks compared tion is worrying the with imports of 16,000,000,000 In the past six months, several

in

Important contracts

Marks.

The "Made label is familiar again from been Singapore to Seattle and from Rome to Hangoon. The mana are exporting everything from needles to locomotives,

Their chlef weapon in their

Ger-

Rop

Dairy

Watson COTTONS

1600 10.00 (CR

30.09

1900

..... 10.50 18.50

20.30

18.80

400 18.00

24.00

2.35 100 @ 2.31 Yangtze 8.70 6.00 100 5.70 our

the

Exchange Rates

that

nor

Ewo Germany" mally would go to Britain have MSCELLANEOUS

grabbed

the Germans. by the Like other European coun- tries, West Germany's biggest foreign trade problem is dollar area. But German im- ports from the dollar area are dropping while exports to the

were now

now

this standard, the trade comist apparent in of the Senate, suld there was

investment is about the 1950

two

by 78 per

DULNESS IN

WALL ST.

New York, Jan, 21. Stock market prices cased in one of the dullest sessions in montha

New York Sugar

Futures

New York, Jan. 21, World sugar futures closed 1 higher to 1 lower, with cales totalling 140 contracts.

March

3.50 bid

337

3.30 bid

3.40 bid

3.44

unofficial exchange market this and exports. Without the ex-inauguration enthusiasm, traders March miannol invasion of the Orientlar urea are at an all-time morning at the following rates

20 et 10.00 countries," he told his American "With you, external audience.

Dealing totalled 1,300,000.

Contract No, G closed 1, lower trade is relatively unimportant. Of 1,123 issues traded, 309 ad- to 2 higher with sales totalling But the whole of our economy; voncod, 402 declined and 292 478 contracts.

the food of were unchanged. our industry, and

Contract No. 4 (world) our people, depend upon imports

The lower trend stemmed May and therofore upon a high level of exporis. Beyond cartain seemingly from its own weight July

Hoptember not a. matter of in the face of a noticeable lack clever point,

Tuesday's January Businews was done in the local choice, for us, between armament of interest. After

0.0175 poris there could be no rearma- adopted a wait-and-see attitude May

ment"

pending the President's State of "MILITARY EFFORT The Korean war was costing week, Britain £1 million a week. But Nails were mixed, moving September November Korea was only "one item in the | about a point either way. March story. Britain had nearly five | Motors moved Spot

market is the

tal car Volkswagen

which

وار

little

car) high. (people's already being sold in

American officials here say trado

43 countries. Selling prospects West Germany's dollar

in Japan, Slant, Burma, Hong-position, will probably improve kong and Indonesia are con- during 1953.Associated Press

aldered good for 1053.

U.s, dollar (per $1) ******* Sterling note (per £1) Indonadan gulders (per 100) Biam icals (per 100) Singapore (trails)

IC plaires". (Der:100)

15.01

22.00

34.40

14.30

11.05

Gpot

Centract No.

the Union speech expected next Marel

openly Peking's Trade Pact JAPANESE BONDS divisions permanently sintioned wore lower d narrowly. Stel-

BRITAIN ALARMED

The British are

alarmed at mounting: German

London, Jan. 21.

sales in foreign markets, British goods ard under pressure - În Rumania end China have many marketa by Latin, signed, in Peking a fratio, nigree- America, the Middle East and ment for 1953, trebaling the Far East from flerco German 1062 volume of trade between competition.

the two countries, a Rumanlan A British inde mission just news agency message received back from Latin America, rom here today eald-Reuter.

stood

In "Western" Europe. In the fios ensed, Rubbers were down Middle East she was the only in fractions to over a point. Western Power with the

Dow Jones averages at the 02 to protect the area from God of the session

Regression, In the Far Fast, the follows: fighting in Malaya wea

30 industrials essential to the defence of the 20 rails, free world on were the United

-10 utiles

49 bonis Nations forces In Korea or the Franco Victimnice force

London, Jan. 21, Japanese bondo jako

"A" (4s. of 1899).. "n" (4 of 1010) "C" (DE of 1007) "D" (6%) of 1934) HR? (5)», of 1930) Consola

16

133

107

304

-United PTIES.

in

J

350 nominol 3.43 nominsi 3.40 nominal 3.07

6.00 blu 501 bid 640 nominal

Unlled Press,

Soeds And Oils

as

New York, Jan, 21. Prices in the seeds and oils 287.00 | market closed: unchanged with - 109,00 | the following exception;→→→

51.05* Finx Seod, per bushel, Fon. United 98.41 Minneapolis. $4,04%. United Pres Pres

ARRIVALS FROM U.S.Á.

"PETER MAERSK”

Feb. 2

Feb. 11 Mar.

4

Feb.

5 Feb, 18. Feb. 28

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building..

Tel, Nos. 36060-9.

Dales and rotation zubject to change without notice.

At liberty to proceed via other parts to load/discharge cargo,

The Rubber

Markets

J Singapore, Jan. 21.

Prices of rubber futures closed

today as follows:-

Number 1 rubber,

per lb. February March April MAN Number 2 rubber,,

February

Number

rubber,

Teby Number rubber,

February

Spot, rubber, unbaled Blanket crepe

Downward

Trend In

US Grains

Chicago, Jan. 21. 303-04 8436-1

Chicago grains and the major 834%-6512 | commodities tended downward mostly, although trading turned 7814-4

quiet as prices softened.

70-7514

7135-73 83-0315

23-74

101-106

ited Press.

No. 1 pile 'crepe

NEW YORK MARKET

Wheat closed 1⁄4 lower to 16 higher and soybeans vers 1 higher to lower.

Prices

follows:-

closed today 03

/ Wheat-Price per bushel

New York, Jan. 21. Prices of No. 1 rubber futures closed 45 to 70 points lower July with sales totalling 53 tracts.

March

May July

September December

Mfarcts Spot

28.25

27.90

2.30% nominal

Spot

March

May

con- September

2.3010

December

2.4014

桌

Corn

1.00 nom❘nai

麵

1.65-1.491

1.07

1.04

3,03

2740 nominal] Spot $23.00

March

20.5 nominat May

20.65 nominal July

20 nominal, September -United Press,

LONDON MARKET

December

Rre

March

1.80 nominal

May

10512-1.05

futures

Oats Match. May

HI3%-82

London, Jan. 21. Prices

of rubber closed as follows;-- Number 1 rubber, in peace

DOT ID. February

March April/June

July/September

Delober/December

30-11-13 New York dour-per, 200 lb. Sack $12.00-United Press. 24-26-

United Press.

· LONDON TIN

MARKET

London, Jan. 21. The tin maritet was quiet and easier this morning. Turnover was 20 tons, all for three months. Prices closed at the end of the official morning, stasion

followa

Spot tin, buyers 500 tin, ellers Burines Bone at Three-month tin, buyers Three-months tin, sellers

her done at Seillement

as

INCREASE IN CAPITAL

Melbourne, Jan 21.

Thin Commonwealth Oil Re- fineries (COR), Australian f company "kowned by Anglo- Brand canouced today thai lại wap increasing, its authorised capitai from £850,000 to A£10 million.

Anglo-Iranian took over nil Con shares last September when it bought the Australian Govern- ment's 61 per cent interest In the

It is impending A £40, infition (£32 minion) on Australia's biggest refinery, now i being bullt ab Fiwinana, in Westori Acustralia-Router.