1953-01-27 — Page 9

Page

MESSAGERIES

M

Arriving

Jan.

"PRY-HILL"

"LA MARSEILLAISE" Feb. 24 "VIETNAM”

MARITIMES

M

Outward - For

Japan

Jokubama ♣ Råde

Leaving

Jan. 21

Feb. 25

Star. 16

Homeward For

"BREST"

+"FRY HILL"

**LA MARSEILLAISE”.

Feb. -Star.

7 .. Mgr.

#

Fab. 10

N. Africa

Mar 2

Mar.

3

**VIETNAM”

Mar. 15

⚫ For passenger and freight.

Karobe !

N. Africa & Europe Marielles via Mtaniis Marseilles via Manita

↑ For Freight to Saigon, Marsellies, Algiers, Tangler, Casablanca,

Hayre, Dunkirk, Antwerp & Rotterdam.

*

Accepting cargo:

via. Marseilles to all Mediterranean & West Africa Ports.

-via Djiboul to Madagescor..

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 63, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 28651 (8 lines),

E

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

Feb. 2 from Manila, for Feb. 3

Singapore, Bungoon & Calculla,

"REBEVERETT” -

Arrives Sails

Penang,

&

Yokohama,

Feb. 2 from Singapore. Feb, 3

Kobe for

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

EVERETT STAR

LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports,

"NORDSTJERNAN“

Arrives Salls

Feb. 5

from Singapore. Feb. 6 for Kobe and Yokohama,

"STAR ALCYONE"

Arrives Solis

Feb. 10 Feb. 17

from Japan.

for Singapore, Port Swelten- ham, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein,

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

EVERETT STEAMSHIP CORPORATION 5/A "Quoon's "Building, Telephone 31206. Chinesa Department: Telephone 28293.

Big Job

Of Salvage

To Begin

Tokyo, Jan. 20. The first batch of Japanese salvage workers salied from Osaka for Indo-Chind today to start work on refloating" 150 sunken ships.

The workers are part of 220 salvage men Who are taking part In the project in operation with Vietnam prises.

-03

enter-

BOOM ON

JAPANESE

EXCHANGE

Tokyo, Jun. 20. Amateur Investors are chiefly

the for

unpre- responsible

boom cedented stock market

Street- on Japan's Wall Kabuto Chosince the begin- ning of the year, trade sources indicated today.

CHINA MAIL, TUESDAY, JANUARY 27, 1959. THE

Rootes' Mission

To Australia

Bydney, Jan. 26.

the

Bir Reginald Roules, of the tootes car manufKO- turing group, anived by air today to study ponsibilities of expanding Live ■ Oompany's In Australia,

zeitvities

Bir

whose. William Bootes, Is Chairman of the group, told 'Press on- ference that sorde "minor price reductions for the company's cars might, be possible here if Australia bad a reasonable period of abilisation and if company could in- crease production and cut overhead costs.

Bir Reginald, brother,

the

whe

has

Sir Reginald, jast visited India, Ceylon

and Malays, will ALGO EO to New Zealand, the Unit- od' States and Canada.am Reuter.

American Trade Outlook

New York, Jan. 26. American importers fore- see a good year-perhaps even I record year-in 1953.

But exporters, with their oyes on dollar shortages and stiffer competition abroad, are not op- limistic.

Importers point out that great deal will depend upon what the new Republican Ad- ministration in Washington does about American import polley. A new record

is possible, they say, if the Government Import restrictions, passes customs simplification bill, ex terds the Trade Agreements Act in an effective form and recon- siders "buy American" legislu- tion.

wates the

these things are done promptly, traders say, merchan dise imports this year may exceed the 1951 record which was just below $11,000,000,000.

Predictions

of 1953 export prospects, however, range from a continuation of the current level of about $14,5 billion onnually to deer mees of ave lo 10 per cent or more below 1852 shipments. Exporters are feeling the bite of restrictions imposed in by other countries, potably the Sterling Area and in Latin- America, where dollars short.

are

and

BACKLOGS REDUCED These dollar shortages increased competition fromm other countries have reduced order backlogs of many **** survey porters, according to a made by the Export Managers that Club. The Club reported

RE

while

BE of 84 companies that participated in the poll have smaller alled orders of their books than a year ago, only 21 have either a greater or equal amount. Two companies reported they had no backlogs to work off.

41

of

Of the 81 companies, 28 re- ported

drop in

volume orders on hand, 13 ascribed the decline in their backlogs to the fact that they bove bean and

making faster deliveries,

the remaining 20 cited both factors.

In those cases where a slack

in incoming business was to blame, declines

unfled

orders ranged from 10 to 70 per cent below the comparable period a year ago.

་

em-

One of the striking results of the survey was the frequency foreign with which increas

from competition,

especially Western Germany, was cited by exporters to explain their loss market A stock

survey of orders. The greatest published today

about phasis, however, was placed on Boys 4,000,000,000 усп in

cash dollar shortages abroad. A The Kitagawa Industry und

changea hunds daily there, typleal comment made by one Marine Transport Company of

with most of the money coming exporter was: Osaka, which is undertaking from miscellaneous investors. four-year project, is the first Japanese Arm to close an inter-

Middle-class carners were re-

national deal on a commercial ported to be forming the bulk scale In this ling since the war of the transactors, unlike former Some 150 ships aggregnung times when a handful of pro- 200,000 tons. are said

to be fesalonal speculators with large retting under the water around

virtually of capital Indo-China since the Padne amounts War, and they include some 100 controlled the entire market. Japanese merchantmen, ne The dally turnover of shares Japanese naval vessels, and 10 is now reaching the 20,000,000 French ships,

་;

-GREAT INROADS "Our South African market has had and is having

great inronds made in it by European competitors who offer much quicker

end much lower pacoe

Sterling Area's Trade ROYAL INTEROCEAN LINES

Policy Towards Japan Outlined By Butler

OVERDRAWN FECTURE OF COMPETITION

London, Jan. 26. Mr R. A. Butler, the Chancellor of the Exchequer, has re-emphasised that Sterling Area trestrictions on imports from Japan were not imposed as part of a "firade war fat to protect our own balance of payments.

The Chancellor matle this statement during an interview with the American magazine, “United States News and World Report."

The question of Eterling Area trade policy towards Japan has been subject to many misleading statemenita luring recent months, and it was to correct these that the Chancellor chose the somewhat unusual method of a personal `Interview to restate the British position,

with

He pointed out that on British £100 million in its trade with Initiative a Sterling, payments | Jopen during that period. agreement was signed Japan two yours ago with tha object of expanding trade on both sides

This helped Japan to make a great increase in her exports the Sterling Aren between mid- 1981 and mid-1932, but to number of reasons, she failed to match this with an equivalent increase in her imports from the prea.

had an adverse balance of over

In

„Japan' then imposed controls to exports to the reduce her Sterling Aren which, in turo, toak: action to restrict the volume of its purchases from Japan.

This action was taken "In no abape as part of a trade war," but to maintain u bainnce of payments.

OVERDRAWN

Mr Butler went on "The

between

As a result, the Sterling Area need for a balance of payments will remain, but this is no reason why there should not be a useful .expansion of trade Japan and the Sterling Area. The picture of a destructive and ruthless competitive struggle between us is overdrawn."

LUMBER

PROJECT

OPPOSED

The Chancellor pointed out that in textiles and some types |of light consumer goods Japan's very competitive position is strong.

"But even when world demand for textiles slumped in the first half of 1932 we still maintained our previous share of the total trade.

Washington, Jan. 20. Representative Waller Norblad, Republican of Oregon, protested to the Secretary of State, John

"We are 'ost atráid of com- Foster Dulles, today

against 2 reported tentative agreement to petition," Mr Buller declared.

But what we were afraid of, let Japan set up a lumber mill

was action by other The he added, Southeast Alaska.

to limit the field of agreement also contemplates the countries

to cur dis setting up eventually of a pulp free compeition

advantage. mill.

And the Chancellor gave as an Instance of this type of action the "tled" loans given by the US. Export-Import, bank which bind foreign borrosiers to spend their dollars in America, instead Britain of giving

and other countries a fair opportunity to compete for them.

Both operations would be con- ducted by the Japanese Govern- ment and the output would be shipped to Japan, Mr Norblad said, adding that Japanese technicians already are in 'Alaska' making the necessary surveys.

In a letter to Mr Dulles, Mir Norblad said: "Certainly there is an adequate supply of lumber produced in the Northwest which is available for shipment welcomed In many British to Japan and which has been business circles, where reports shipped there over a period of years.

of

NOT YET READY

This statement will be

"ruthless" British action to restrict Japanese exports to the Sterling Area are deplored.

Bank Loan To

India

Paris, Jan. 26,

The International Bank

"TUWANGI

BAILINGS

Feb. 2

M

To

·Singapore, 12Jakarta.

Burabala & PERCRIBAT

Japan

Semarang,

Yokohama. Negoya, Graka £ Koba

Japans Djakaria

Semarang,

·BEACHSIST

++

Worabais

'Mabula, Singapore, K. & 8, Attien &

8. Amariex

TARMAN"

Vru;

"nois EVAIN"

Veb.

"STRAAT

MAKAIBAR”

Heb.

"TUKAMPEKO"

Feb.

"TJIMENTENG",

"TJELUWAJE*

|HIYOTKÄRVATN"

"THBANTİET"

Feb. 18

Feb. 10

Fab -Mer,

Feb. 22

Feb, 22

15

Singapore.

JAPAN

:יז

F

STARMANY #TJEYANGI" "RTRAAT KORNDA"" Mar. "TJIBODAS"

“TJILUVÄRY

"TUSADANE” ***TABKAN" #ITHAAT

MAKABRAN**

*TIPONDOK"

*THWANGI”

singapore, Djakari. Benktangs

Burabala & MACASAKY Singapore.

Djakarta.

Maurkius, 8. Africa à 8. Ameriem Djakarta Semarang, Hurabzla

Marazar

Blogapore," Penang

* Belawan Doll

- Djakarts, Semarang.

Burabila & Macassar

Djakarta. Demarang, Autabala a

Djakaris.

Surabala & Maraisar

Japan."

Hemarang.

·

NiMAPILI,

Bemarang

Djakarta,

*. Atilen & R. America

Mackasst

Semarang, Aurabata

Djakarta,

Rurabala Macassar

Manils, Blagapori, E. & A. Africa

Djakarta. Kemareng, Scrabala

Rurabila & MacARiAr

Djakarta, singapore.

"R, Artler, & 3. Amerier,

·MAT.

Mischar

Mar.

Mar. 14 hint, 17

16

*Ringapore.

Japan

ART. 22

Singapore

23

Djakarta,

Apr.

2

Ringapore.

"TJIPANAS”

Apr,

1

"TJIKAMPEX"

*THLUWAJ"

"TEGELDENO“

Apr

MacAr

Apr.

14

Singapore, · Djakarta,

Apr 22

ARRIVALS

"TJIWANGI"

"ATRAAT

MAKASSAR"

"TASMAN" "THIKAMPEK"

In

Port

Feb. 2

Feb. 1 Feb, 7

A.

REMATADE.

Mauritian,

From

Surabain

*

Jakarta. Nemarang.

Macassar

America, . Africa, Miæuritius, Singapore & Maniin

Singapore, Penang * Belawan Ball Japan

TEL. 28015/18.

for Reconstruction and De- KING'S BUILDING, Ground Floor velopment today announced || CHINESE AGENTS: 12 CONNAUGHT RD, C. TELS, 31100, 25183, the granting of a loan of US$19,500,000 to India for industrial development.

The loan will finance indus-

trial projects and will protect large areas from floods.

Irrigation and drainage canals constructed from the funds will Lotal 23,000 kilometres and cover res of 405,000 hectares in on arco

When com- Western Bengal. pleted, the netw will

network permit the production of-400,000 tons of rice and other cereals. This will be of special importance in this heavily populated Industrial belt, where there is a chronic 'food shortage,

+

The huge reservoles will be built to prevent floods, which have, in the past, caused serious damage in the Western Bengal urca, especially

the disastrous year of 1943.

inv

The main irrigation canal will the Barnetres larg, linking Damodar to the Hooghly River 48 kilometres above Cal- cutta. Barge trafile on this canal will relieve pressure on railways and provide economic means of transport for coal and other heavy goods between the

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

M.S. "HULDA MAERSK"

*M.S.

"GERTRUDE MAERSK"

M.S.

"TREIN MAERSK”

2 Feb. Feb. 11

Mar.

Calling, Vancouver.

ARRIVALS FROM U.S.A.

M.S.

TREIN MAERSK”

Feb,

M.S.

"NICOLINE MAERSK”

M.S. "PETER MAERSK"

Feb. 18 Feb. 28

Modar Valley mad Calcutta. "For Freight and Further Particulars please apply to:-

The total cost of the develop- meat projects is estimated to be and foreign currency will be me $103,000,000. Expenditure in locai

the Indian Government and by the siste governments of Blhas and West Bengal.

"With reference to pulp we

Mr Butler's remark that the

The International Bank loan not only have producers in the

need for a

a balance of payments will be used to buy tools and United States who are able to will remain implies that Britain equipment that will have to he supply the Japanese markets but American capital is current is not yet prepared to lift Import Imported. The agreement was ly investing US$50,000,000 in aestrictions at least not until signed three days ago by

Jepan shows

more willingness Indian Ambassador to the to balance her trade with the United States, M: G. L. Mehta, Sterling Area.

and Mr Eugene R. Black, Pre-

quarters, particularly in France-Presse.

new pulp mill at Ketchikan to augment our present suppliers.

"While there was a fevere

the

shortage of lumber a few years certal' 100, will be welcomed in i eldent of the International Bank,

go that situation does not exist Lancashire, where there is much

at the present time and many concern at the decline of textlio

mall mills in Oregon are run-exports.

irregular schedules ning Jon because of lock of markets.

But Mr Butler's statement was If not wholly negative.

Hla

the proposed Japanese agreement assurance that there is still room

is put into effect and this entire for a useful expansion of trade our between Japan and the Sterling market withdrawn from American producers, particularly Area is in line with British polley in the Pacific Northwest, it would to seek a widening of world be very injurious to the economy

wherever this is possible trade, of that part of the country," on mutually advantageous United Press.

Fibre Industry Research

Manila, Jan. 28. Researches that may revolu- Pilonize the world's multi-million- basis.

And

It is particularly signl dolay jibre industry are being

jointly by Valte ficant that Mr Butler made this conducted statement

American Nations and Philippine techno- an

to

The Rubber magazine, for it has been largely logists.

These investigations desi in

Markets

Singapore, Jan. 126. *Prices of rubber futures closed today as follows:- Number 1 rubber, per lb.

February mar

March April

as a result of United States post war policy that Japan has tended to increase her purchases from while seeking the dollar area, to compensate for the loss of the Chinese market by expanding her exports to other areas.

the possible industrial utilisation of fibrous materials in the manu

End paper, acture of pulp Countries with extensive fibe industries and which may proat those of in `thero studios are

Bod Southeast Asia, Central TIBING SIGNIFICANT

South America.

Preliminary roports of the the The timing of the statement is researches sald that in

Philippince along 240,000 tons also algnificant.

Labaca waste, .containing new of At the pulset of 71-78% political regime in the United valuable Abre suitable for paper 24184States and at a time when Far material, are wasted yearly.

If this waste could be con- Eastern paley is known to under review In Washington and verted into pulp and paper, it estimated this country London, a statement from a was British Cabinet Minister which would realise a yearly addition- distorting al Income of not less than re-emphasisos tro effect on world trade of the $15,000,000.-Associated Press, closure.c

o.of the Chinese markets.

Number rubber. Febniary Number 3 robber, February Nurnier A rubber, February Spot rubber, -unbaled Latest Government Ogures-anket crepe for the month of November, No, a pale crepe painted-Prem. show declines for both exports and imports. United States im-

NEW YORK MARKET Among the Japanese ships average daily transactions of

ports were valued at $803.8 are six largo vessels ranging be- January last year.

million, compared with $910.1. tween 7,000 and 10,000 tons.

Most of the buying and sell million in October. This was

mark, which is 10 times the

Now Yosk, Jan. 26,-.

The salvage experts believe | ing comes in small Lots, vr] hine per cent under the month. Prices of number 1 rubber board to have an important.} __

is average for the first nine points lower with sales tetailing But so long as the Banwar New York Sugar

over 30 of the ships could be between 100 and 200 shares of a raised, yielding some 120,000

and

even university months of 1952, and 12 per cent In iron which the

average. | stlačenits are to be in the under the

!December, however, import ace for jackpets" Trado quarters said that the Tokyo's 115 authorises nbock- sources said the situation im-awareness of Jarge stocks avall with Chin London. Express

lans of scrap Japanese want to buy.

1051

Vietnam Government appeared brokers are making about DG,-provod. in November

20.10

387.00]

contracts. The market weak-continues there can be little change in nass reflected the lower cables hope of a radical Ince the primary anatket and the American policy towards Trade able at Singapore for expo:t.Service. were Prices closed as follows-

-Barch

May

nominat

to prefer to receive construction000,000 yun daily in commis materials from Japan

rather sions, and their 6,000 employee valued at $1,177.7 million comi than dollar payments-France- are the highest paid workers in spared with $1,100,3 milion In Japan today. Their year-end October, and about six per cent bonuses corresponded to about below the monthly average for

Presse.

A NEW PLASTIC eight months salary Franch the first albe months of

New York, Jan. 20.

A new plastic for shoe, Koles

so light it will float in water

whs

Presse.

announced by Goodyear, NY Metals Market

Tyre and Rubber Company.

The plastic, called

Neolito"

New York, Jan. 20.

market unchanged with

the

yearAssociated Press.

September December

the

Math Пров

JAPANESE BONDS

London, Jan. 20, Crown

Japanese banda

"A" (4:01:1899):27%. containe raditions af Prices in the matel air bubbles, and is about three- | closed

***May of 2010); von fas, of: 1007) fourths the weight of standard following exception:---

Askanintum, Virgo, 1480p" (68,400 493633 neolite

"g". (61⁄41⁄2s of 1930) Goodyear says it resembles Ingots, base prices FOB US. but will outlast leather.—Asso- | piänta, 03-09.0

per Consols per cent cinted Pr

· 11.) · 20.40 'vents-United Press.

LONDON MARKET,

London, Fan, 0. The rubber market was castor today. Prices alored sus follows

@umber: 1-rubber,sin penc

173 373114)

300 45), March-

101 8916" -United Press

April/Tuma

Future's

New York, Jam, 20. World sugar futures closed. unchanged to 1-higher - with sales totalling 50 contracts.

Contract No. 0 closed, un-

LONDON TIN changed to 7 points lower with

MARKET

London, Jan. 2d.

sales totalling 256 contracts. Contract No. 4 (world) March

MAY

July

Bertember

January

The tin market was heady | October Cand idle this morning, Lover was Ave lone.....

closed at the end of the officialMAY morning sesfor, as follows: mege {foot in," buyers.

Thres-months Ting, pelle Vitriness: dōns: at

2.10 bid

3.00 bid

9.00 bid 364 nominal.

K47 Morsinal nominat

Centrset No. # .

TE [day! July |Beptember November

Saz nominat

Tomita)

0.57 turnínsi

United · Press.

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel, Nos, 36000-9,

Dales, and relation zubject to change without notier.

At liberty 10 proceed via other ports to tund/discharge cargo,

HONGKONG

SHARE MARKET

MITSUI

REVIVAL FORECAST

Tokyo, Jan. 26.

One of Japan's pre-wan business plants, the Mitul Buz san Trading Co., is likely to bo revived shonly, according to

(From Our Correspondent)

Business done on the Stock Exchange this morning amounted 40 $290,772.55, Neon quotations and, the morning's dransactions trade circles -HMARKS BUYRES SKLLERS SALES

DANKS

'1K Bank INSURANCES

Canton

260 'Unkan

..... 70244 800 Underwriters 5.56

SHIPPING

... 1420

hala Nav ..... 1,40

DOCKS, ETC.

K. Wharf ....

C9 0112

N. Pt. Wharf di Mongkow Provident

10

230

The Misul Busan, with its powerful compolitor, the

Mitmi bishi Shoji Trading Co. was the biggest import-export firm in Japan until the war'a end.

the notorious of part Mitsul Zulbalsu clique, it was closed at the start of General MacArthur's occupation regime. of medium and anali Scores

trading Arms grew in the wake of the Mitsui closure, chicly

the

2329 2.10rough the clever grouping of

The pany officials

for 11.39 establishment of the large, and

3.40 powerful Japanese

company

Ovo

7.80 has resulted from the weakness

former

1000

13

(N) 11.30

1140

Bhai Dock Wherlock

1.30

•

(RIF)

19400

LAND, ETC. LIK Hotel

150

12 1.83 7,50 1000

100:Land (0} HH Land (N) "Alial Land Humphrey

UTILITIES

Tram Atar Ferry

51.8815

..13.70

22.00

C. Light (0) $35 DAD

~C. "Light ~(N)''

flected

Telephone, 19.00 INDUSTRIALS

Cement ATV 18.20_18 STORÉH

Two MISCELLA

Vangiste

* 2.00 Lot the small companies, ·în 7 2.7736

3.47 competing for big international

orders.

With the gradual re-opening 1.85 of Japan's foreign trade, com

1.00

6756

175. 24.30 2.35.45 1000 2.40

Exchange

pany promoters have, mado moves to amalgamate the small "cbittren" that come from the big companies and a new Mitsul Bussan is likely to ariso on the foundation of the pros rent companio ----France, Protse.

Seeds And Oils

New York, Jan. 20. Prices in the scods and oils market, closed unchanged with the following exceptiods?---

Peanut oil-per 18. TOB New York. 22-15 Cents,."

Flax seed, per bushel, · FOB Minneapolis. $4.00. Untied Pres

Rates NY Stock Exchange

New York, Jan. 20, Dow Jones averages at the Tuinen wasdite, in the local unomielel rahanimarketishis and of the stock market station teratur 301-£rye Inkiewing ratesty stood as followatege

$280.04 20 Industrial S 15.40 20 Hallapu Indongan guilders (per 100) 149 15 Utilities Alam Ensis (per 100) w

34.30

******** 202,01 Singapore (žraštu),

170 40. Bonds

08.54 FIC plasiras (par 100) (11.83

-United Press.