1953-02-04 — Page 9

MESSAGERIES

M

MARITIMES

Arriving .eaving

"LA MARSEILLAISE" ..Feb. 24 Feb. 23

+MEINAM"

"BREST

**FRY HILL"

.Mar. I Mar. 星墜

Kerlung Feb. Tab.

M

Outward For

Yokohama & Roke Japan

Homeward

Hong Kong Feb, 2 Feb. 10. Africa & Eurapa

**LA MARSEILLAISE”

Mar. 2 N. Africa & Europa

ง

B

*

Apr.

В

Marseilles via Manila N. Africa & Europe

.Apr. 12

N. Africa & Europa

+"COURSEULLES" ... Apr.

MEINAM"

For passenger and freight.

For freight to Saigon, Marseilles, Algiers, Tangier, Casablanca, Havre, Dunkirk, Antwerp & Rotterdam.

* Accepting cargo:

-vin Marseilles to all Mediterranean & West Africa Ports.

—via Djibouti to Madagascar.

Subject To Change Without Notles.

CIE DES MESSageries marITIMES

P.O. Box 63, Hongkong

Queen's Building (gr. floor)

EVERETT

THE CHINA MAIL, WEDNESDAY, FEBRUARY 4, 1953.

Development Of Empire

Washington, Feb. 3. Kellable Unancial sourdes said today that the British Government had subscribed £250,000,000 to the explial stock of the International Bank, for developing, the Commonwealth ares,

The sources understood this money would be used by the Bank over the next few years loans for development of strategie materials, posts and transport systems in the Commonwealth area, ja-

Af various parts of

They expected the Inter- national Bank would make an announcement on this in New York later this week. -United Press,

BRITISH

Self-Sufficien

In

Oil Requirements An Objective of Empire

Of

London, Feb. 3.

In two or three years' time, Commonwealth countries will be able to meet virtually all their oil requirements from the output. of their own refineries.

Canada is already in this position, and the

Pakistan Developing

Sterling members of the Commonwealth will soon Industries

also be similarly self-sufficient,

ROYAL INTEROCEAN LINES

"DOISSKVAIN" *THIKAMPEK"

"STRAAT

(e-'Tokohama, Nasoya, ‘Osaka. d Kabo

Djakarta Semarang,

Macar

Moratals

C

Kobe, Nagoya & Yokohama Kingapore, Djakarta, Kenarabe.

SAILINGS

rib. Feb

Fab. 7 Teh, 19

Feb. 21

"THIDANTJET""

Feb. 21

"TJIWANGI"

民营遍案。

*

"TASMAN”

Mar.

MAKABRAS *TIILUWAH"

"DOJEJEVAIN"

"STRAAT SOGNDA” Mar. . "THIBODAS"

"TIILUWAW?

"TJISADANE" "STRAAT

MAKASSAR"

"TJPONDOK"

"TEGELBERG" "TJIWANGI" London, Feb. 3, Sir Frederick Bourne, former PANAS”.

For, parallel to the expansion of Britain's own re- finery capacity, the oil industry has undertaken projects for building about 16-16 million tons of new capacity in Governor of East Bengal, ad- VAN HEUTZ other parts of the Commonwealth,

The total expenditure Involved Į

CARS SET estimated at about £150,000,000 are under way is India.

Tel. 20651 (3 Ilnos).

E

LINES

A

EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger Rervice to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.

"NOREVERETT"

Aurives Sails

Feb, 18 from Singapore. Feb. 19 for Kube

"REBEVERETT"

Arrives Sails

Mar.

02

Yokohama.

from Manila, ?

Mur. 3 for

Singapore, Penang. Ronguen & Calcutta,

(Accepting cargo for tranabipment Kube/Pusan and Hobe/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 Sqlls

Feb. 5 from Singapore, Feb. 6 for Kobe and Yokohama.

"STAR ALCYONE”

Arrives Saila

Feb. 19 from Japan. Feb, 20 for Singapore, Port Swetten- ham, Madras, Colombo, Bombay, Karachi, Kharram- shahr, Basrah & Bahrein.

(Accepting cargo for transħipment Kobe/Puan and Kobe/Okinawa)

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

The Rubber HONGKONG

Markets

Singapore, Feb. 3.

Prices of rubber futures closed

as follows:

Number 1 rubber, per lb.

March

April May

701%-1% 704-4 30-00 Number z rubber, March 742 Number 3 rubber, March 704-34 Number 4 rubber, March 68-60 Spot rubber, unbaled

Blanket crepe

77-781

68-70 93.90 -United Press,

No. 1 pale crepė v

+

LONDON MARKET

London, Fab. 3.

The rubber market "was steady

today. Prices closed as follows:-

Number 1 rubber,

In pence per 15.

March

April/June

July/September

October/December

2222-2314

痛

United Press.

LONDON TIN

MARKET

SHARE MARKET

(From Our Correspondent)

Business done on the Stocks Exchange this morning amount- ext to $510,271.30, Noon quota- tions and the morning's trans- netlons→→

RECORD

*THILUWAD"

"TEGELBERO"

"TJILJANTJET"

dressed a large gallering of the | "TZIKAMPEK" Pakistan Society at Overseas A third member of the Cam-House on "Recent Impressions of in these various schemes is monwealth where similor projects East Pakistan."

Sir Frederick, a director of the -approximately the same sum In the Bombay area, two new British India Steam Navigation Па that required to bring plants are planned with respec- Company, has recently returned Britain's own capacity up to its tive capacities of 2,000,000 tona from a visit to India and Pakis present level,

and 1,250,000 tons per annum, which will involve a total outlay of the rapid industrial develop- ton, He painted vivid picture

ment in East

Largest of the individual re-

London, Teb, 3. The value of British cars and commercial vehicles exported Jast year reached an all-time record of nearly £190 millions, next year.

of

Motor Биул the Society Manufacturers and Traders.

In

fineries will be in Adon, where of just over D. at! work has recently begun on the plant which is expected to come into operation about the end of

will

annual capacity of 5,000,000 tons when in full operation, and cost

£40,000,000.

have

תם

Before dealing.

with the main subject of address, Sir Frederick appealed to British engineer

and other engineering

In- erns for a different concerns

A third large present

under contemplation for the east coast of India.

In neighbouring Pakistan, the Government is at the moment considering plans, put forward by one of the all companies, for

business

with Pakistan. Official the erection of a plant at

Paltistani circles had expressed Even more expensive develop- Karachi,

dissatisfaction

de- at British ments are under way in Aur- This would be comparatively livery dates and had complained tralia, where the oil companies small, with a capacity

of only of

apathy, he said, are to increase annual refinery | about 500,000 tons orinually, but

Sir Frederick surveyed the

won in their handling of

throughput by 6,500,000 tons, the cost 15 provisionally-rapid progress made in build-

numbers, shipments of cars fell by almost 59,000 and commercial vehicles by just Over 8,500 on the 1951 totals. Import restrictions in AusTM tralia

and New Zealand æe-

by late 1955, at counted for the most part of the drop in car

£05,000,000. exports and

Almost half also contributed to bringing

of the total down the volume of commor-

will be at capacity

Kwinana, ndar Fremantle, whero: a new cial vehicles shipped.

refinery is planned which will

д

cost of estimated at over £5,000,000,

Car sales to the USA., over Į process 3,000,000 tons of crude 31,000, mounted by 11,500-lastoll annually, year, and higher truck and bus Denmark, British exports to West Africa, and Turkey did much to offset the reduction in shipments to Australasia.

Almost 70% of car output and 53% of commercial vehicle production TV to oversens buyers during the year.

of

ure to

END OF 1954 Two other new plants, to treat about. 1,000,000 tons of all aplece,

be erected at Geelong (Victoria) and Kurnell (New South Wales), respectively, while the capacity of the existing wh refinery at

(near Altonu Melbourne) is to be raised to a similar level.

ત્તન

of the

the exception Kurnell plant-planned to come into operation about the middle of 1955 la hoped that all

will 105,000 these refineries

be "on

Exports

With agricultural tractors were up by over 21 millon on the, 1951 total with a peak value of £42 millions

the recorded against units shipped,

stream" by the end of next year.

Farm Prices In United States Again Declining

New York, Feb. 3.

Prices of American farm products are declining again. It is even reflected in lower prices on some items at the grocery, The reason: Huge supplies.

Almost 30 per cent more wheat on hand than a year ago. Corn supplies up almost 1/10th. A record number of cattle fattening in the nation's feed lots. Farm stocks of feed grains 10 per cent bigger than last year.

So, many a former is wonder- ing if the history of the twen- ties is to be repeated. Then the farmer had his own private de- pression before it started for the general public.

There was another

carly aspect of the depression of the Iwentles a falling off in home building which is also being But the repeated these days. farm price question Is para- mount in the minds of Con- gressmen who

aware of are turm votes if not of the basic plier of form incomes and buy- Ing

American 507971 economy.

power in the

SHARES BUYERS SELLERS SALES DANKS

101425

HC Bank... 1420 1435 East Alan.... 143 INSURANCES

Untan

SHIPPING

Underwriters 550

Alla Nav

DOCKS, ETC.

K. Whart

.

is the machinery, the ferti- Users, the sprays, the labour. He also knows the spread be tween the price he gets for foodstuffs and the price the consumer pays at the store. This spread is caused by the many processors and distributors along the line who all take a pront out of the final price.

And

with the present weak- ness in farm prices, he sees his Income shrinking. The golden da cade when all the world want- ed his produce and

DÜRBAN

PROJECT

year.

in

ing, hydro-electric" and other

in projects

Enst

Pakistan. Chittagong

which, In port former

days had only five jetties, now handled liners from all over

and the the world

was rapid and ef- turn-over cient

Chittagong itself. gave the impression of a boom town with its numerous construction pro- fects both for business premises and factories.

SOURCE OF WEALTH

Finally, a new refinery is to be erected in South Africa, in the Durban area.

This particular plant-to proccus 150,000 tons of crude all a year-is expeeled to some time come into operation this year.

The output from all these new plants, when in totals over 15,000,000 tons

full operation, And to this must be added that of other plants already operation in the Commonwealth, In Trinidad there are several refineries, the principal being

and that at Pointe-a-Pierre, thelt combined output amounts

over 5,000,000 tons. The refinery at Lutong, Britisla Bornco, which W05 damaged during the war, -has also now

rehabilitated been

and con- The entire area needs to be tributes a further 2,000,000 tons surveyed," he said, "and its re to the annual total, and there is sources

exploited to the already one million teas of re-maxlentum,** finery capacity in Australla.

to

BRITAIN'S OUTPUT. Most important of all, Britain harself will be able to process 27,000,000 tons of crude oil annually when plants now almost completed are in full operation.. of output will, in

This fact,

the

With the development. of Chaina also, Calcutta had ceased to be a port of any importance to East Pakistan.

With regard to the Chittagong Hill tracts. Sir Frederick was of the view that they were a great source of wealth, particularly in timber.

In Dacca and Narayanganj also, he had been impressed by the general atmosphere of

Build- activity and confidence. ing was going ahead with great speed, and he considered that the jute mill operating near Docen turned out a high-grade product.

lovely be renched during | fast", seld Sir Frederick, "and

"East Bengal is developing.

an

present year.

less than three Thus, within years, the potential throughput of all refineries within the Com- monwealth (excluding Canada) will amount to approximately 30,000,000 tons annually.

This

with compares estimated yearly consumption for the same countries of some 45,000,000 tons (including ships' bunkers) at the present time.

Equally important, there will Arca a resuit to the Sterling very considerable saving of foreign currency as a result of the expansion of home-refining within the arba, London Express Service.

Jap Gloves Popular

as truly Pakistani as any other province in that country," The meating, which was at-

tented by Fakistani residents In

London and many retired elvil servants, ended with a vote of thanks by Sir Lancelot Graham, a former Governor of Sind.

Chicago Grain

Futures

"RUTS" "TJIWANGI"

"STRAAT

MAKASSAR“

"EJIKAMPEK" *TJILUWAII”

da mūzabila &` Macassar

Penang Bingapore. Diakaris, Matri-

tius. . Attica 8. America

Djakarta | Semarang,, Burabala

ДЕАСЯЙКАТ

Hingapore,

Djakarta, Semarang. Suradala 4 Discasar Singapore & Br. East Africa JADAR

Djakarta, Bemarang, Surahsią d

Singapore, Djakarta, Rezaarahg,

Buzabala Macanuar

Зарад

SALRY, Miri,

Singapore,

*)jakarta, Mauritius, 8, Africa &

Djakarta, Sengarang, Aurabala

Mar

Japan

AIDENDOTE. Djakarta,

•

L

Alar, 1

Mar. 11

Mar. 17

Mania.

8. America

MAT. 12

Mar 29 Apr.

1

Apt Apr..

Apr.

Apr. 18

Apr, 22

Apr.

#

23

May 2

+ ADI.

Port

In Fort

Feb.

12

Surabala & Macongar

A

Bemarang,

Manita, Ringapore, 1. & 8. Africa. Japan

Macassar

Djakarin, Remarang,

Surabain

&

Singapore. Djakarta,

Semarang,

Hurabala” Macassar

Singapore. Djakarta, Maurillus,

B. Africa B. America

Djakarta, Nemarang, Ancala

BEATARAT

Japan

Singapore, Djakarta, Semarak,

Surabal & Macassar

ARRIVALE

From

B. America, 8. Africa, Mauritius,

Bingapore & Manila Japan Macassar.

Surabala,

Djakarta & Singapore

KING'S BUILDING, Ground Floor

Rematada.

TEL. 28015/18.

CHINESE AGENTS: 82 CONNAUGHT RD. G. TEL8, 31190, 25138.

MAERSK LINE

· FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

*M.S. "GERTRUDE MAERSK”

M.S.

"TREIN MAERSK" M.S. "NICOLINE MAERSK"

•

Calling Vancouver,

ARRIVALS FROM U.S.A,

M.S. "TREIN MAERSK”

M.S. "NICOLINE MAERSK” M.S. "PETER MAERSK"

Feb. 11

Mar. Mar. 18.

4

Feb. Feb. 18

5

Feb. 28-

For Freight and Further Particulara please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos, 86066-9. |

· Dales and rotation subject to change without notice. At-liberty-to-proceed-via-other-parts-to load/discharge-cargo,.

Cotton Prices NEW YORK,

In New York HARBOUR

New York, Feb. 3.

Prices of cotton futures closed today up 3 to 23 points. Spot

March

May July

October December March

Chicago, Feb. 8.

mixed Chicago grains were while other major commodities

Irregular. Wheat closed spot. to lower and soybeans were unchanged to higher. Prices closed as follows:-

were

34.05 nominal 31.20 33.57 -33.80 308 -33.30

23.93

ACTIVITY -

New York, Feb. 3. More than 8,800 vessels, flying the flags of 39 natiohs, entered the Port of New York last year 31.17 nominata gain of nearly 10 per cent 3431 nominal

over 1851. 34,01 bla -United PreER.

37.06

on

But duties paid

thelr 32.00

cargoes were down 5.5 per cent 3128 -33.20 in 1952 from 1951. 33.57 -33.67

SELAS

33.00 Did

34.18 bid 34.13 bid 5400 bid -United Press.

May July

ing

|

.. 1.63

farm. belt

The

10

200 00

0.70 20,20

New York. Feb. 3. Japanese knilted gloves have "come of ago" end are belag was will sold in America's finest shops on Increasing a per with the best made in the prices for it seems to be draw- | USA, saya. Harman Gross of the ing-to a close.

Elid Glove Co., a leading man:- Export demand for American factures. Some Congressmen from the farm products is off. Production 5000 on 1.00

There is necessity for neither of crops given reasonable wed-pology nor downgrading ther increases right along the type of gloves now coming Now surpluses are piling up.

Mr Gross from Japani, They have

mos completo amer acceptance.

to pay over

for

Spot March MAY July September December Corn Spot March

Wheat-price per bushel

2.2134 nominal 2770-%

NEW ORLEANS MARKET

March May July October December March

May

July

2.295-

250 530

said.

May

July

con-

September December

Rye March

May

Üsta March

7031-32 May

7016-34 New York four-per" 200 Sack. $12.90, United Press.

fb.

N. PL. Whart

Dock

Provident

.. 12.70 12.50

S'hal Dock.. 2.03 2.18 1:00 a 2

2000 2.15 Wheelock

Hongkew -7.03 2:13 1000 * 772

LAND, ETC.

HK Hotel

2.15 0000 or 2

4000 4 2.10 4000 k 2.03

HK Land (0)7.00 6300 2.00

London, Feb...3. Prices of tin were firmer this morning. Turnover

100 Was

IK Land (N) pone for

Prices cash.

Sh1 Lend closed at the end of the official UTILITIES *morning session as follows:-

tons,

Spot Un, buyera

Spot tin, xeftoru

0772

Busing done at

nil

Three months tin, buyers

050

Three-months tin, sellers

031

Busine ono st

Bottlement

1150-48 071

-United Pre

Exchange Rates

Business was done in the local

Unofficial exchange

market

داول

50

57

want to raise

level at which the Government supports farm prices,

Others think the Government should start now buying up foodstuffs to bolster the prices for what the farmer still has unsold.

FIRST TO FEEL IT First to feel the effect. of Mr Grey said anal im this are the prices the farmer ports of these gloves appear gets. But wholesale prices are have levelled off et a very stable down now, akhough to a small quantity of about 700,000 to or degree. Higher operating | 750,000°

dozen

a year. expanses out Arther into

Domestic manufacturers have but retail prices are lower on not been able to make, all the many food items than 2 year good quality gloves Americans want and consumem have been Blur Ferry

The farmer's expenses haven't fortunate that these imports have C. 'Light (0) 9.15 0.20 6000 370 If a prosperity goes many instances the price of the Associated Pres

dropped as' much, if any. In been available to fill the gap-- IN) Electric 23.00 23.00 300 ** 23.70 sour, little by little it might things he sells have dropped for all the below parity with the cost of 2000# 23.76 spoil the boom

Tram

1000 € 1.73

23.10 22.40 400 22.10 600 22-20 118

It's Bkely to be one of the knottiest problems of the early days of the now Administra tion. Farm price support will come out of tax money-at a time when most people, includ- ing farmore,

for ore crying and tax cuts.

4000 # 0.10

500 23.00

00423,20 economy.

560 + 23.00

41 23.70

230

23.00

Telephone.. 19.00 INDUSTRIALS

Cement

... 17,70

500

19.00

X3 2000 1 10

19

000..18.00

600 12

24.20

morning at the following rates:- STONES, ETC. U.3, dollar (por 81) **** 0.0316

Bierling note" (ptr 21) DATA 10,75

Dairy

Indonesian gutiders per 100) 23.70 Walson

Slam ficats (per 100)

Singapore (Straits)

FIG, patres (per 100)

34.50 COTTONS

10.10 Ewo

1000 9 5.70 11.825 MISCELLA

Yangtze... 0.00 +0.00 2000 rs (6,85 *3000 130

RISE IN COSTS

things he must buy.

Under the law the Govern«

•ment supports the price of many Clly folk think the price of farm products at 00 per cent of food is still too high. So firm this parity.

it has Some Congressmen are now tell them as urging that the Government

JUTE PLANT MACHINERY,

1.800. 1.581-1.59 1.015-1 10400

1.03

1.00 bid

1.78 northsi 1.8054-7

Steel Industry

Earns Less

New York Sugar

Futures

New York, Feb. 3. World sugar futures closed today 2 lower to 5 higher with sales totalling 315 contracts.

Contract No. 6 cloned ur changed 'to i lower with sales totalling 210 contracts.

Contract No. 4 (world)

3.03 bid 3.09 bid 3.65 3.63

March

Slay

ments

In December 800 ships arrived · and pold duly on maritimo ship- totalling 20,157,498 dollars. This brought total ar- rivals to 8,816, compared with 7,071 in 105), while the year's total duties came to $210,158,- 730 against 1051.

1

$222,489,055 In,

The 8,816 documented vessels which arrived last year repres -sented a total of 30,905,230 net tons of shipping, a rise of 9.5 par cent from the 38,433,725 net, tons entering in 1951. The pro- portion of American tonnage coming into the port last year was virtually unchanged from the year beforo-42.00 per cent compared with 42,07 per cent. in .1951.

Despite the decline of 5.5 per 3,63 nominal Cent in dutica collections In

1552, the year ended with considerably brighter pictura earlier. than

for

Expter

October

-Jenters" (1994).

3.00

March

3.50

May

Spot

Contract No. 8

March

New York, Feb. 3. Steel companies in 1952 ex-

May Fiaty periencod. lower earnings for the second consecutive year but september November the earnings outlook for 1953

March (1934) is fairly favourable, according spot

national

<

1.81 bid 5.07

5.64 bid

1.93 DK

4.90 nominál

5.00

United Prem."

it had shown Monthly duties figures September, October, November and, December of 1952 all were higher than those for any month later than March of 1931-Aso- ciated Press.

4

transparting foodstuffs of pro- Credit Corporation of the Agri- machinery under the £3,500,000 wookly said a strdy of pre- NY Stock Exchange JAPANESE BONDS

The

London, Feb. 3. that 3000 17.00 in this conviction

The London firm of R.ED. little effect" all connected with the food-ki-rafan the support to 95 per cent Wilcox, agents for the Pakistan to the "Iron Age”.

Industrial Development Cor- dustry aro.constantly doing of parity.""

shipping

metal working the Commodity portion, have begun that the cost of farming, of... Others want

plant liminary carnings reports of cessing and packaging food, of culture Department distributing it and of celling selling the grain I bought pre-plan line wessel carrying the the bulk of the industry's Ingot 10 steef companies, representing

Now York, Feb. 8. victuals at the grocery, all have viously, and instead to start A

Dow Jones averages, at, tho rone ul in recent years. The buying ertin right away art for sumagot shortly to expacity, showed that earnings end of the stock market semilon

were off, 22 per cent. stood as follows: arriva in Chittagong "Cuba" lins cancelled the speciali

pays country elevators Wh tariff privileges extended 10 West

Karachi, Feb. 3.

Approximately * E1,750,000 of In: 1951 earnings of these com- 30, Industriala Other want moro 6 furels, to Germany due to the expiry of the Talke on the possibility of

15 with panles fell 13.5 per cent, ro- 20 ralla The farmer, on the other be granted other notions so that this order was placed s trade agreement between the expanding Pakistan-Indoncala - hand, is well aware of the riso they will have dollars to buy sexille machinery matters in the rufting largely from the 54 18 tallos 1wo countries signed in Septem-trade

here

40 bonds products-As-Dundes district and the rest in day strike that cut deeply into today. || in his operating costs. He knows American farmh

other parts of the country, operations.--Unitest Press, ber 1951,-feulor,

how expendva modern farming "bociated Prom

Trade Pact Expires

Kovano, Feb. 3. Karachi Trade Talks

opened

Reuler,

city man still thinks 100 much to eat.

London, Feb. 3. Japanese bonds..

"A" (AR)" of 1899) (HB" (45) of 1910)

"C" (65 of 1987)'.

of 1934) 69.07 (8x." or 1930) 98.48 Consola

United Press.

120

100%

-United Press,