MARITIMES
MESSAGERIES
M
Arriving Leaving
"FRY-HILL”
LA MARSEILLAISE" “VIETNAM"
'BREST"
M
Outward For
Yokohama & Kobe
Feb. 24
Jan. #2 Fcb, 23
Гаран
Star. 18
fel. 7 J Kestung
Feb. 8
Homeward For
Hong Kong Feb, Feb, 10. Africa & Europo
4"FRY HILL' ........... -Mar-
LA MARSEILLAISE"
*«VIETNAM"
2. Mar. .Star. * Mar. 5
MAT. IS
For presenger and freight.
2 N. Atrien & Europe
Marseilles via Manila Alarmelles via Manita
For freight to Saigon, Marseiller, Algiers, Tangler, Casablanca, Havra, Dunkirk, Antwerp & Hatlerdum.
Accepting cargu:
„„-via Marseilles to all Mediterranean & West Afrlen Ports.
via Djibouti to Madagascar.
Subject To Change Without Notice.
CIE DES MESSAGERIES MARITIMES
PO Box 53, Hongkong
Tel. 26661 (3 lines).
Queen's Building (gr. floor) -
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Tangoon. Caleuita and Chittagong.
"BRADEVERETT”
Arrivea Salls
Feb. 2 troin Manila, Feb. 3 for Singapore,
Rangoon & Calcutta,
"REBEVERETT"
Arrives Sails
Feb. 2 from Singapore.
Penang,
Feb. 3 fur Kobe & Yokohama,
(Accepting cargo for transhipment Kobe/l'usan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-pasaenger service to Koren, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf l'orts.
"NORDSTJERNAN”
Arrives
Sails
Feb. 4 from Singapore,
Feb. 5 for Kobe and Yokohama,
"STAR ALCYONE"
Arrives Sulla
Feb. 19 tron Japan. Feb. 20 for Singapore, Port Swetten- kom, Madras, Colombo, Bombay, Karuchi, Khazrum- shahr, Basrah & Bahrein.
(Aceeping carze for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queon's Building, Telephono 31206. Chineso-Dopartment: Telophono-28293.-
Buffer Plan For Rubber Meets London Criticism
London, Jan. 28.
The Financial Times, commenting today on tho buffer rubber scheme announced last night by the working party of. the International Rubber Study Group, said:
"There is little doubt that the real problem cannot be solved at all by any scheme of this kind.".
"First of all there is the prob- The paper recalled that two years ago ʼn similar scheme for | lem of international
goodwill and education.
strategy
the control of tin, which had which can only be handled by reached the same slage as has now been reached by the Rubber "This is the problem of ste- Working Party, broke down on ing that the American Govern- the question of prices.
merit's natural desire to pro- tect its own supply of rubber "Any buffer stock scheme to which an American administra for strategic
is not rensons agree satisfied at the expense of the tion could conceivably would have to operate at prices Malayan and other producers.
artificial stimulation of which took account of the pro- duction costs of synthetic rub-synthetic production for the
the fact that production can be in-
one sense,
of the future is not a wise
the Financial Times wrote S
synthetic
creased and reduced (within
If it results in the
of the Malayan
limits) fairly quickly, itself pre- against its enemy.
present wor
vides a buffer between supply | "Secondly, however, natural rubber producers must preparo and demand."..
The
THE CHINA MAIL, THURSDAY, JANUARY
British Talks
With Japan
Tokyo, Jan. 28. Japanese and British ofciats will open talks tomorrow designed to Im- prove the present trade relations between Japan and the Sterling Area.
Although The whole scope of Anglo-Japanese trade will probably be discussed during the con- ference, the Japanese will specifically ask for allevia- 1100 of current Sterling Area restrictions on im- poris from Japan and if this is refused, recognition of the Japanese plan to restrict Imports Into, Japan from the Sterling Area, United Press,
LEVELLING
OFF OF FARM
PRICES
boom
29, 1953.
Challenge To Shipbuilders
In Britain
ORDERING BOOM IS OVER
London, Jan. 28.
In the United Kingdom, as elsewhere, the ship- building industry is about to meet the real challenge of the return to normality.
This statement is made by Mr Horace Will- son, chairman and managing director of William Hamilton and Co., Ltd., In the course of an article. in the "Glasgow Herald Trade Review.".
The fact that the ordering boom in shipbuilding, is over, Mr Willson observes, is not to say that the industry faces any immediate crisis.
LAND fitting to look
Washington, Jan. 28. The United States farm land generated by fond de- marcks Browing
of
the Korean war has apparently come to a halt.
no
The Agriculture Department reported today that prices al farm real estate showed simificant
change during the four months ending last Novem- This was the first four- ber. morth period since the outbreak of the Korean war that land prices did not rise.
The levelling off game during
a period when fann
prices were
Land with
Te declining.
Indeed, It would hardly bo forward to 1953 and the two years beyond with anything like a pessimistic gloomy outisak.
u
13
от
a
When the present order book Is worked off at, it is hoped, a speedier tempo than has been possible in the last two years, because of the steel shortage, it will be the keenness of the price level, along with
emelency in production, which will determine satisfactory flow of whether
orders is maintained.
"The chill wind of foreign competition
becoming definite reality," Με Willson continues. "Germany
Holland this moment and Japan are at engaged in a small amount of new
ship construction for UK. registration. The oll companies, *** with their international ramifica- tions and their
financial resources so widely spread, are keen enough to take advantage earlier deliveries offered abrond, even at higher prices.
BOOM IN
Empire Finance Scheme
Statement By The Chancellor
ROYAL INTEROCEAN
SAILING'S'
Paro 9
LINES
*Blagapore, Djakarta,
Sokohama, Nagoya, Osaka 2 Koba
Semarang,
MACKBEAT.
Surshipla
"THWANDI
"TASMAN"
Feb. 2
Armetab
Burahaia Marasar
Feb.
Japan
"BOWSEVAIN"
Feb.
"STRAAT
MAKA88AK”
Feb,
Japan
"TJKAMPER"
Feb.
Djakarta
*TJIMENTENG”
Feb. 19
*TIHLUWAI
Feb. 15
Feb. 22
Feb. 27
25
"DOISSEVAIN"
London, Jan. 28. Progress was being made by the organising group in the establishment of the "TANTIÈT" proposed Commonwealth
finance company, referred to in the communique of the recont Commonwealth con- ference, said Mr R. A. Butler, Chancellor of the Exchequer.
The group was unable, low- ever, to make any further state- ment at present.
The Chancellor had been asked by 1 Socialist member. Sir Richard Acland. for further particulars about the proposed company. He wanted is know how it was to bc controlled, and what principles it would apply in deciding whether to make loans in respect of different
ARGENTINE projects.
WOOL
MARKET
Buenos Aires, Jan, 20. The local wool market is en- joying a very brisk season with prices up about 20 per cent in two months, and a steady de- mand both for export and for
local consumption." product'
מנו
prices usually go Increases in farm com- modity prices and ta down when the food market slumps.
The department said a severe drought over wide areas of the southwest an northern great plans also contributed to the hall in advancing tant prices.
The
general level of land prices on November 1 was 213 per cent of the 1910-14 average compared with 200 per cent year carlier. The November level was nearly 25 per cont higher than at the start of the war in Koren.
Wool
exports were jong paralysed in Argentina when licensing policies seemed based the Government, exchange- and
on the assumption that world prices would rise machi above the local level.
VALUE FOR MONEY
"The size of the existing order book must not be allowed to divert attention from These developments. Value for money is, to an ever-increasing degree, becoming the criterion of ex- on such capital goods as ships. The day of seeking to buy al any price in the Inevitably abnormal conditions of the post-war era
is past, pressure on the shipbuilding wool exporters. industry in this country lasted well beyond the most sanguine expectations. It would be un- fortunate if this caused relaxation in the drive for economy, eficiency and speed of production.
Early In 1952, the Govern- ment modifled its exchange policies and made some con- cessions to probe experts. Now the Government has confirmed 113 composite exchange
rates equivalent to 0.25 peзns per dollar instead of the old basic level
of 5.00 pesos applying The to foreign currency earned by
DROP PREDICTED The department said its formi land reporters
in- expect no erease in prices during the dx- month period endlag next May 1. Some predict a downturn.
"These
the expectations." department sald, "are
general agreement with the cutlook for a slight drop in net farm in-by
ome in 1053 due to slightly lower average prices and some further increase in production costs.
"Some casing in land prices could develop during the intter half of 1953 If farm_production. costs and prices are in line with current
expectations."
“department cald,
the
The farm, land real estate mutket was unusually inactive during the Summer zel Alt- tum, the department reported. Prospective buyers were op- parently hesitant to close deals until future trends become more apparent.
The department also reported! that there has been no sit- nificant change in credit policies of major farm land lenders Associated Press.
The Rubber
Markets
Singapore, Jan. 23. Prices of rubber futures elysed today as follows Nainber 1 rubber. per lb.
February
any
is
"Unfortunately, progress often hampered in this country
demarcation between various
arrangements trades, or by refusal to adopt new techniques without increased payment of The result is often some kind. less productivity and increased rather than reduced costs.
"No greater disservice could be done to any industry than by the false thinking that sees, security in spreading the work or spinning out the job,
That is
the equivalent of trying to take more out of a job than one puis in, with results which sooner or later will become painfully obvious,"
A STIMULUS
As far as this year's prospeeta arc concerned, Mr Willson mphasises that everything de- pends upon the steel supply position. Regretting that the re- turn lo fixed-price tendering süll seems to be far off, he observes:-
10
"There is
Conditency,
WO
is no greater stimulus but unstable make fixed prices im- possible today, and the attempt to return to this desirable method of contracting
or threo years ago was not a happy ex- perience for the industry.
"So long as there is instability, rising material costs, rising mat
and one wages application following an- other with no halt called to the spiral, so long with
the ship- builder be rendered
unable to templ orders by fixed-price In the international quotations market. And of course the long- dated deliveries for many classes of tonnage, particularly tankers, London, Jan. 28.
add to the Impracticability of The rubber market was, fen-
fixed prices. Nevertheless, in turclers today. Prices closed as
spite of these dificulties, Axed- follows:-
price tendering must remain the ,。 Number 1 rubber, in pence
shipbuilders' goal at the earliest | perib,
2331-21 2-24 possible moment in the interests 231-34
of the industry and of all those who And employment in it.".
lankel crepe
0136-4 March. April
FL3%-827 Number 2 rubber, February 7615-77 Number 3 rubber, February 701-11 Number 4 rubber, February 7315-74 Spot rubber, unbeled
1-815 70-72
*** DS-101 -United Press.
No. 3 pale repo
LONDON MÄRKET
Merch ....
Apr/June
July/September
October/December
United Pres. NEW YORK MARKET
New York, Jan, 28. Prices of No. 1 rubber futures with sales totalling 28 contracts. to 35 points lower
closed 10 Financial Times sald themselves for the competition
that rather than concentrating which is obviously on the way." on schemes of doubtful prac--Reuter.
ticability the Industry' would be
better employed in assessing
the trends which
fairly clear:
are already
"On the
'the hand ono prospect is of a rising world demand,"
newspaper wrote.
the
TWOFOLD PROBLEM
LONDON TIN
MARKET
London, Jan. 28. The in market was very quiet this morning. Turnover "On the other, prices are was 15 tons of which five tons by the were for late January. Prices Hikely to be governed cost of synthetic production, closed at the end of the official And this is likely to fall in the morning session as followa
long run,...
"No buffer stock can alter Business done et
these trends.
"The real problem before the natural rubber industry is two- fold.
Marell Mary July... September Decemb Maret (1004) Spat
27.00-2.90
21.40 20.00 nomtrai 28.40 535 2104
-United Press.
Pepper Market
New York, Jan. 28,
New York Sugar
Futures
New York, Jan. 28. World sugar futures closed '7 lower to one higher with sales totalling 159 contracts.
Contract No. 8 closed un-; changed to a higher with sales totalling 101 contracts.
Contract No. $ (world)
March
July
May
September October In the pepper market spot January inatorial held around $1:16 a
Marchi May pound. Stocks - availing release spot. from the recently-treived as.
3.55-3.00
9.39 bid
·3.64 bid
3,75 nominat 3,4n nominat 3.48 nominal:
At the same time, it announ- ced that the sales tax on wool exports will be held in abeyance until further notice,
Sir Richard then asked the Chancellor whether it WR3 wrong to assume that what wos intended was a privately-run corporation, with very con- siderable powers of distributing capital resources in different parts of the Commonwealth, but with no form of publle control or Ministerial responsibility and with no power for questions to be asked about its activities in the House of Commons.
Mr Butler did not link tho House had ever been able to ask questions about the opera- Lions of n private enterprise concern. There would, how- ever, be contact between the finance company and Govern- ment policy,
OTHER METHODS
In reply to a further question from Sir Richard Acland, Mr Butler said that the proposed finance company was only one of the methods by which capital would be provided for overscus development. There were other methods which fell within the purview of the Government,
Mr Hugh Galtskéll, a former Secialist Chancellor of the Exchequer, urged Mr Butler to give the House more informa. tion about the proposed com- pany, as it was evidently in tended to be part of the general policy The two measures have given
of Commonwealth a further fillip to the upward
governments. On what scale was price trend, which was most
It intended that this institution noticeable since the new
clip
should operate? started coming into the market.
Most in demand are Merino and cross-bred types from the Patagonian territories; Most lots have been cold for export, but local firms have alse made im- portant purchases.
ber
Mr Butler replied that the re- ference in the communique of the Commonwealth economic conference referred to a state- ment issued by the organising group of the proposed company. As this was a private body, he could only refer Mr Galtskell
to that statement. that market
Latest figures, up to Dreem- sales since July 22, when the
31, showed exchange
rate was raised, totalled 112,000 tons. from July 22 to December
Exports totalled 050,000
10 tons-Assocl- aled Press.
F
HONGKONG
SHARE MARKET
(From Our Correspondent)
Sir Richard Acland gave notice that he would try to raise the matter again on the adjourn. ment.
Later, in a written reply, Mr Butler said the Government did not intend to place new restric- tions upon existing facilities for raising capital by the Common- wealth in the United Kingdom.
He had been asked whether he would introduce some control over the export of capital from this country to the rest of the Sterling Area to ensure that it was used only for "projects in. the interests of the Sterling Area as a whole."
*TARMAN" "TUWANGI"
Fb. : Mar.
"STRAAT SOENDA" Mar. ITJIHODAS"
"TJLUWAIT"
"TJIBADANE"
TAIMANS "BTRAAT
. MAKASBAR”.
Mar.
Manila, Ringapore, 1:, & 8. Africa a
8. America
Singapore, Djakarta. Semarang,
Arabala & Macnusar
Dikkarta.
Bingapore,
*Alauristus, 8. Africa & 8. America Djakaria Remarang, Surabata
Macankar
Ringapore, Penang & Belawan Deli. Bingapore. Djakarta, ArinsTARE,
Barabaia & Macassar"
Japan
Djakarta, Semarang, Kurahala
Singapore, Djakarta, Semarang,
Buratala & MacRAKAT
Japan
HORAY Mile, inaspore, Jakarta,
Mauritius, 8. Africa
America
Jakarta.
Mar. 16
Mat. 10
Alar. 17
Mar. 17
Japan
-Тангоурок"
"TJWANGI"
“TJIFANAK" "TJIKAMPEK"
**T JILUWAI
"TKGELDERO"
Mar. 23
Apt.
Api. Apr.
Lokpri 14
Apr. **
Singapore.
demerang,
Rurabala
B.
DJakarta, Bemurage
Ruzabala Macassar
Alanits, Singapore, E. & 5. Afrien Jakarta. Memarang, Gurabata
Macassar
Singapore.
&
Djakarta, Bottarang. Hurabala & Macar Kingapore,
Jakarta, Mauritius,
5. Africa & . Amerlen
ARRIVALA
From
Buradals
Djakarta, Semarang,
MRCASSAT
"TJIWANGI"
"STRAAT
MAKABBAR"
fn
Port
Feb
Feb.
2
5.
Fet.
ANMAN" **TJIKAMPEK"
America, S Africa, Mauritius,
Kingapore & Manila
Singapore, Penang & Belawan Delt Japan
KING'S BUILDING, Ground Floor
TEL. 28015/18.
CHINESE AGENTS: 82 CONNAUGHT RD, C. TELS. 31196, 25135.
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
M.S. "HULDA MAERSK"
*M.S.
"GERTRUDE MAERSK"
M.S.
"TREIN MAERSK"
* Calling Vancouver,
M.S.
TREIN MAERSK”
M.S.
"NICOLINE. MAERSK"
M.S. "PETER MAERSK”
ARRIVALS FROM U.S.A.
Feb. 2 Feb. 11
Mar. 4
Feb.
Feb. 20 Feb. 28
For Freight and Further Particulars please apply to:--
AGENTS:
JEBSEN & CO.
Pedder Building.
Tel. Nos. 36066-9.
Dates and rotation subject to change without notice, At liberty to..proceed via other porte-to-toad/discharge: cargo:
Competition From German Freighters Worrying Europe
New York, Jan. 28, Competition by German cargo ships with skeleton crews at low wages is worrying several European maritime nations, Frazer A. Bailey. President of the
Business done on the Stock Grain Prices National Federation of American Shipping, said today.
Exchange this morning amounted $422,348. Noon quotations
to
and the morning's transactions:- SHARES BUYERS SELLERS, BALES BANKS
JK Bank East Asia... INSURANCES
Canten
Union
K. Whart
D 100 01 Provident 12.80 15.10
Provident
(New)
S'hal Dock Wheelock ... 7.00 Wheelock (R) 2.00 LAND, TTC.
HK Hotel 7.00 HK Land (0) 57ič IK Land S'hat Land Humphreys UTILITIES
*Tram
In
Chicago
Chicago, Jan. 28. Prices of grnin futures closed today as follows:-
Wheat-price per bushel
2.29% nomina? 2.2017 2.314-16
September Dcember
Corn
2.33-
1420)
150
200
Underwriters
5,45
Spot
SHIPPING
March
Ada Nav, 1-43 1.00 2000 1 DOCKS, ETC.
May
July.
11.30 1.80
500 11,40
#4000
2000 3.50 630022!
Spot
7.00
March
1.01 1.3211-1.62
1.45
200 @ 50
200 @ 13.00
22.00
MDY July September December
March MAY
105-
1.00%
2,7914 numinel 1,013
"Oats
March
B12-17
May
好
0.20 0.30 600
• Elettric
23.00 224 200
600
300 # 23,90
10.00
200 19.00
18.30 800. 10.30 20.30
13.10 10.30 800 @ 14.20
2431 5.40
23000 240
.3600 500
7.19.
7.00
6000.st. 7.90
Telephone INDUSTRIALS
Coment Rape STORES, ETC.
Dairy Watton COTTONS
wo
ડાક
500 24.
Exchange Rates
Boxinets
Unomelal
done in the local
morning at the following rates
Spot Un, buyers Spot in, wyllers
DED
901
ກ
Thred-inoniha tin, buyer Three-month tin, wollers Business dono at Sellement
DC
D4
943
SKEL
at $1.1-United Press,
Sicel Advocate were qualed at March" around $1.15, and ss, Steel May,
Julv Seafarer, due early In February, 31.10-$1.10 a pound. On shipment November pontions, January was indicated Marri
#pn
Contract No. 0°
0.00 2.77 bla
WAS
exchange market
Udollar (per $11.
September
Sterling hole (per &)
1
3.8 nominal 037 noritan 0.15
Indonesian guldiers (per 100) 21.10
Slam Leals (per, 100)
34,30
Hingapore (BET)
ted Press.
SIC plastres (per 100)
13.17 23870
New York four-per 200 fb, Back $12.00 nominal-Unfled Press.
London, Jan. 28. Japanese
bonds "A" (4x. - af 1899) 81% "" (45. of 1910). 724 "D" (58.
Mr Bailey has just returned from a six months' survey of European shipping from Norway to Sicily. Reporting to the Federation's Board of Directors, mande up of Presidents of 28 U.S. shipping lines,' 'Mr Bailoy said:
"What I was told in Finland { manning
of
scales
and
working in Une with other
Is Interesting concerning the conditions more German, operation of small Baltic those and coastal vessels all the way countries." to the Mediterranean,
owner or part owner;
กาย ในเทค
GERMAN INGENUTTY Discussing
"On ships of approximately 800 or 1,000 tons they sometimes
conditions .in. operate with a crew consisting of German shipping Mr Bailey said: the captain, who is usually the "I could not help being im
a mate pressed with the
Ingenuity of who is relief; one engineer; one this impoverished country. oller for diesel power: and two "They stated their problem men on deck, with the captain's simply. When the war was over wife for cook-a total of seven. they had
neither
money nor "On inquiry as to watches, I ships. Their Government was was told that such, sot exist." 11,000,000 refugees; it was futlic with the care of encumbered 08 overtime, simply did
can
We
and de-
shipowners col
Bald
The Danes asked me what we to ask for Government aid. The proposed to do about German picture looked very black and competition and I replied, "What still does in many respecte. They
They said the do have certain good cennomle. do?' JAPANESE BONDS German wage scale was below getors and energetic
anything cle In Northernethinëď poople with an ampla Europe, but worse stil, there was supply from which to draft no legal. manning scale and the officers and crews. Germany were operating with The German
about half the size of they had no ambition to return other North European nations in to the passenger business as
they 800 did not
how anybody, United States, "I told them of our informal specially the arrangement with the Japanese, could make any money at high that in the International trades sca-going wages prevailing. They they would conform to all said, they did hope to build back trada practices their cargo services to the extent recogniseel thir and ethics; that we had not been of 20 per cont of their pre-war able to find
tonnage, but this was as for na method of any
cor- reeting
Fto their prosen! Tho
ambitions ox- economic factors
I asked him
of 1007) --
of 1034) 105 "E" (512x, of 1930) 101 -United Press.
Zinc Prico In NY
New York, Jan, 20,
certain instances.
· Prices in the metal market, which he referred. closed unchanged with the fol- lowing exception
tended.??
if he had any suggestions and ho Germany and Sweden both sald only that: through the In offer bettor inducements for Zine, prime western, New tornational Labour Office these investment of capital in shipping: York, par 1b. 12.83 cents resurgent countries might be re-than the United States doce, Mal United Fress,
quired. to bring their wages, Balloy. said—-—Associated Press,
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