1953-02-25 — Page 9

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Outwards

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20 Ja 20

To Part 20-22 Apr.

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1 Apr.

...23 ATAY

Va Balcon Baleon

West Africa ports.

One Hongkong 3. Apr.

For Japan

-Keeling 10 Mar.

12-11 Mar.

kerlung-5 Apr.

30

K Mar. AJE.

....... Keelung- Apr.

† Salgon, Marseilles, Algiers, Tangiers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk

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Tel. 26651 (3 lines).

LINES

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

"REBEVERETT"

Arrives

Santa

Mur. 2 from Manila, Mar, 3 for

"LENEVERETT"

Arrives Salts

Mar. B

Singapore, Penang

& Calcuttu,

from Singapore. Kobe

9 for Mar.

& Yokohama,

(Accepting cargo fur transhipment) Kube/Pusan and Kobe/Okinawa)

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"NORDSTJERNAN”

Arrives Sails

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Mor. Z from Japan. Mor. 5

Arrives Suits

Mur. Mar.

for Singapore, Port Swetten- hair, Madras, Colombo, Bombay, Karachi, Kharram- Shahr, Basrah & Bahrein,

from Singapore..

for Kobe & Yokohama,

(Accepting cargo for transhipment) Kobe/l'usan

Kobe/Okinawa)

and

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephono 31205. Chinese Department: Telephone 28293.

The Rubber HONGKONG

Markets

Singapore, Feb. 24.

Prices of rubber futures closed

today as follows:-

Number 1 rubber, per b.

March

Apri

May

704-79ļa

70-7 Number 2 rubber, March 745-75 7019-21 Number rubber, March Number 4 rubber, March 84-74 70-780 64-70 02-07

Spot rubber, unbaled ........ Blanket crope

No. 1 pale crepe

United Press. MARKET

London, Feb. 24.

LONDON

Prices of rubber futures closed

today as follows:-

Number rubber, in pence,

per i

May

June

April/June

July/September

October/Drewvnber

SHARE MARKET

(From Our Correspondent)' on the Stock

Business done Exchange this morning amount- ed to $348,562.75. Noon quota- long and the morning's trans- actions:-

SHARES BUYERS BELLEUS BALES

BANKS

K Bank XD 130 1310 50 1300 East Asia

INSURANCES

Lin

#217-231%

23-23!

United Press.

NEW YORK MARKET

"New York, Feb. 24. Prices of rubuer futures closed today 10 to 15 points lower with sales totalling 01

27.40 it 26,340

contracts,

March

May

July

September December

March

Spot

28:40 nominal

143

Underwaters 0.20

BINPPING

Waterbout

DOCKS, ETC.

K. What

13.10

N. Pt. Wharf 0.30 0.40

Dock

Provident

S'hat Dock Wheelock LANU. ETC.

HK Hotel

1 Land (0)

1K Land (N)

143

THE CHINA MAIL, WEDNESDAY, FEBRUARY 25, 1953.

Japanese Application For ROYAL INTEROCEAN LINES

Japan Planning Admission To GATT

Export Switch?

New York, Feb, 24. Japan in planning a pro- kramme to promote, In- creased exports Lo tho dollar market, trade sources reported.

defiallo Although

de- cisions have not been made, sobie form of organised dollar-export promotion is probable as early as April, flimshi Murata, representa- Ilve of the Japanese Ministry of International, Trade and Ladustry, nald.

"Japan must do every- thing possible to expedlie Increased salts to the dollar

than market, rather

the Sterling market." Mir Murata sald, — Associated Press.

Russian

Trade Offer

Presents Big Problem

(By Ronald Boxall)

London.

Japan's application for admission to GATT has confronted members of that post-war "tariff club” with their first major problem.

Their difficulty arises out of the basic principles underlying GATT (the General Agreement on Tariffs and Trade). Briefly, these are concerned with the prevention of discrimination in world trade and the attainment of conditions under which goods can flow from one country to another with a minimum of interference from tariffs or other artificial barriers to trade.

This ideal is embodied in the first article of the Agreement which requires that tariff concessions granted by one member to another shall be unconditionally ac corded to all the others.

This famous "most-favoured- | Article 23 should be amended to nation" clause is the very enable. 2 member to take foundation of GATT. And it is unilateral action 11 GATT de also the cuture of present fears re-layed its decision longer than 30 garding Japan's application for days. admission.

I

The conservative Daily Tele- greph focuses its comment on the proposal that a country wishing to take discriminatory action against another it belleves Given this additional rate-guilty of unfate practices, can do guard,

countries will se on its own initiative if the probably now accept Japanese contracting parties to the Agree- membership. But for some of ment do not make any decision thom this will still entail a leap within 30 days.

heavily if cheap, Japanese goods in the dark. They stand to lose

most

Hitherto, the "tariff club" has not had to deal with the new membership of a major trading cuntry. Those countries ad mitted after GATT came into operation in 1948 have played relatively minor roles in world given equal rights in their chlof export markets--which, for Britain, means the Common wealth.

trade, and their accession there- fore

did not cause concern. But Japan's application

entirely different category.

In

un

Manila, Feb. 25, Russia soft-pedaled its

Her factories accoun political

with differences

account for a, considerable Asian countries today and consumer goods entering world proportion of the offered "mutually profit- | trade, Ant ber exports able" trade in a strong engineering goods are likely to cash-and-carry bid for part in this trade in future the conditions of expanding world Asian markets.

The offer come on the second day of the nine-day United Na tion trade promotion con- ference of the Economic Com- mission for Asia and the Far East

Some 200 delegates and observers from 39 nations are atlerding.

The Soviet chier delegate, V. A. Kamensky, who lost an opening day balile to seat Red Cala at the conference, drop ped his bellicose tone and stated:

Russla wants to help re- construct and rehabilitate the countries of this region.. We are ready even now to discuss any concrete queries and offers

for the purchase and sale of goods, including the conclusion of individual trade deals."

He offered to supply capital and manufactured goods in'ex- change for Asia's rich raw materiais, including petroleum and copra.

Nationalist China

offered the only mediale retort to the Communist trade wooing.

OTHER BIDS

Chief delegate S. K. Chow declared that international trade |

Communist trade offers involve.

in

NEXT STAGE The committee foresaw this diflculty, but pointed out that towing Japan's accession the necessary adjustments (ol- to GATE on terms of full equality would be more casily made The trade.

countries.

"This proposal has plainly been The Daily Telegraph odds: designed with Japan alone in mind. If it is generally applied GATT will be as dead as Queen Anne,"

After commenting that "the spectre of Japanese competition Is alarming," it goes on to con- |clude: "It is tempting to regard all Japanese competition as un- fair. This is far too sweeping.

"Absolutely unfair the proc-

than

finest grapes'). Effective action to check such abuses, and the infringement of patents is loog overdue.

tice of selling goods whose origin or composition are other problem, however, is not caly the volunie

And this expansion, it added, they purport to be (before the but the price of

war one could buy in the Far East Japanese exports. This is well would be facilitated by a further

# Japanese' beverage Scottish below the price of similar Foods general lowering of tariffs, in-

goods volving appropriate contribu-labelled 'King Victoria produced elsewhere in the world. llons from major trading Whiskey, made only from the

The difficulty that was fore- seen when Japan made format application to join GATT was that members would be nelled, under existing rules, to treat her equally with all others. Thus the tarifr concessions negotiated bilaterally since 1947 and unconditionally extended to all members wou

would automatically apply to Japan,

But, as was pointed out when Japan's application was made, these concessions were made on

be

The committee's proposals will now be considered by the governments of member countries. The next stage will be to cull a full session of GATT at which a vote will be taken to decide whether Japan shall admitted. A two-thirds majority is needed to secure admission,

Japan's membership will not become effective, however, unli she has negotiated tariff conces- sions with other contracting portjes, It is felt by some

the basis of known production countries that this should be de- coots in countries which were members of GATT at the time the tariff talks were held. Hud

Japan been entitled to benefit from

thent, many countries would certainly not have been 50 generous in granting tariff reductions

་

A SURPRISE

Having failed in the Initial postal ballot, Japan's application came up for consideration at the Jull session of GATT Inst September. The

arguments

-

layed until another general tariff conference-such as those held at Geneva in 1947, Annecy in 1940, and Torquay in 1950 can be arranged.

In any case, it is pointed out, all existing tariff concessions are due to come up for review early next year, and some members would like to combine this re- view with a general tarii con- ference including Japan.

to the Soviet Uniomaillee has now re- embodied in Article 35 of GATT. :

and

the

"But there is nothing ffair in Japan's reaping beneft from her lower wages costs. The only real answer to fair Japanese competition is strenuous British competition."

Cotton Prices

In America

New York, Feb. 24, Prices of cotton futures closed today as follows:

Spol

March

May

July

October December March May July

"TJIWANGI"

"STRAAT #OENDA” Mar.

TJPONDOK"

"TASMAN"

"THLUWAD"

TJISADANE" "BTNAAT

MAKABBAR"

Το

Singapore. Djakarta, Kematang.

"Burabala & Macassar

Kobe

jakarta, Sensatang, Surabala &

Macauer

Mauritiu

Bingapore, Djakarta,

Búzabala 4 dincasser

Japan

Manila, Miri, Singapore, Djakarta,

Afauritius, 8. Alrica & S. Ametien

SAILING S

Mar.

·,

J

Yokohama,

Yokkaichi

4

Mar,

Mar, 0

MAT. 14

Mar. 17

Singapore, Penang, Belawan, Bell &

QUIDATACE,

MAF. 17

Mar. 23

Mar. 29

Apr.

薯

Singapore, Djakaris,

Kemerang,

Apr.

་འ

Manila, Singapore, E. & A. Atrien

Apr.

D

**TJIBANTJET"

"TJLUWA"

"TEOFI.DERO"

"TAPONDOK”

Apr.

0

Ujakarta, Semarang, Hutabla

ADT.

16

Bemarse

Apr. 22

Singapore, Jakarta.

Mauritius,

Apr. 23

A

Apr. 23

May 2

"TJIKAMPEK"

"TEGELBEBG"

"TJWANOP

*THPANAS" "VAN BEUTSZ"

**HUYS**

"TJWANGMI

"STRAAT BANKA“ May 4 "TUKAMPEK"

บ May,

"TJJLUWAI"

May 18

"TATJALENGKA“

"BUY"

"TIDANTJET”

May 10 -May 22

Atas: 23

"TJIWANGI

Fr. 26

"STRAAT KORNDA" Mar. 1 "TJIPONDOK"

Mar. 7

2 Mar.

"ΤΛΗΣΙΑΝ

inct, Вентан BuFabula a

Macamar

Зарар

Hurabala Blac

Маслякат

Bingapore,

Jakarin,

Surabain & Mach

8. Africa & S. America

Jakarta, Sematang, Surabala

Macassar

Japan

Singapore,

攀

jakarta, Kematang,

Surabala Маслянат

Taniis, Kingauore, E. & 8. Africa Djaksta. Bemarang, SBIDAIA

Macassar

Singapore. Bjakarta, Kemachtig.

Hurabala & Macaksat

Japan

Kingapers.

Jakaria, Mauritius,

South Afzien di N. America Djakarta Remarang. Korabala

Maraisar

ARRIVALS

From

Macanay, Surabala, Remarang.

jakaria & Singapore

8. & F. Meira, Statieltius & Singapore

Japan

Japan

KING'S BUILDING, 'Ground Floor

TEL, 28015/15.

CHINESE AGENTS: 82 CONNAUGHT RD. C. TELS, 31196, 25133.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

NEW YORK. BOSTON, BALTIMORE & PHILADELPHIA VİR BAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

M.S. "TREIN MAERSK” M.S.

ARRIVALS FROM U.S.A.

"NICOLINE MAERSK" ....... M.S. "ANNA MAERSK”

Mar. Mar. 20

G

Apr.

2

•

Calling Vancouver.

34.05 nominal 33.18

33.30-33,40

M.S. "PETER MAERSK"

33.76-33.71

M.S. "ANNA MAERSK”

33.70

33,80-33.02

33,08 bld

32.00

Feb.

28 Mar. 6 Mar. 22

34.01 nominal

.02

United Pre

NEW ORLEANS MARKET

33,20-33.24 33,61

33,72-33.73 333.77

13.80 bid

-United Press,

M.S. "LEXA MAERSK"

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

- Dates-and-rotation -atibfert-to-change--without-moiler.

At liberty to proceed via other porti to load/dischargo cargo,

Spot

May

March

July

October December March

3. bld.

Ma

34.07 LIJ

July

JJ,87 bvd

MAY WITHHOLD Finally, it should be noted on the Chinese Red mainland in buitined above were put formally that members may withhold the 1951 and 1052 showed what by certain delegations-notably own tariff schedule from another Agreement or application of ils He said Red China, had shown the British and the whole contracting party simply by re- matter was then referred to a fusing to enter Into tariff "unlimited expansion of Stateme "inter-sessional"

com- negotiations with it at the time and trading

Increased subor--

of its necession. This rule dination und Eastern European countries"

ported,

solution it has already been invoked by In the Russian orbit.

and Indla against J and Frames also joined suggests falls well short of the Pakistan

the bid for bigger Asian sweeping changes in GATT rules South Africa.

that many people believed to be Moreover, even if tarift nego- markets.

have necessary before Japan could be tiations

been held, a Japan's chief delegate, admitted.

the com- In fact,

country con still take dis- New York Sugar Nakagawa, declared his country mittee has proposed only one criminatory action against was ready to help neighbouring minor change in the rules to another number if it can shaw Asian countries Industrialise by enable

in bers m

whose sending them equipment and Bi

safeguard its balanc damaged by a economies are technical assistance.

Mr Nakagawa

flood of cheap Japanese Imports ments, noted that to take corrective action on their But import quotas and other Japan's

trade declined own inillative it GATT delays restrictions imposed for this last year and asked that Irn-

longer than 30 days in suggest-purpose must be progressively port regulations be eased and ing alternative arrangements. relaxed as the balance of pay- Japanese ships be

The committee considered a ments position Improves Ireer port entry,

proposal that Article 19 of the eliminated altogether when con- Fratice offered to assist Asian Agreement,

ditions no longer justify providing for ecuntries incrcate their agricut "emergency action

eir. turs)

resources in order to

cumstances causing or threaten- provide greater self-sufficiency ing serious injury," should be.

Amended. in 1001-Arreciated Press.

permitted

Grain Prices

In Chicago

Chicago, Feb. 24, Prices of grain futures elosed today as follows:-

Wheat-price per bushel

Spol

March

May July September December Corn

2.274. Holminai 2.2015- 2310-2132 2.3411-2.31 238

1.3932

1.591-44 1.03-1.023

1.9 TO

IN

12.00 11.40

2.20 100 2000 € 752

7.00

54 100 34

Spot

33 33 48216

1552

Marchi

May

July

.14 500 13.00

September

· December

4000 211

Rye

Marely

..205 r.

Oath

23.50

March

May

Few York four-per 209 tb, $13.00 nominal-United Press.

Shai Land.. 111⁄2 ́1.60 1030 er 1,00

lumphreys

26.10 nominat UTILITIES

25.00 nominal

25.00 nominal

27.50 neminal |

United leis.

SEARCH FOR

OIL

Cairo, Feb. 24.

Tram...... 21.50 Star Ferry XD 110.

C. "Light" (0) 0 9.30 85001 KE

C. Light (N)

Electric Telephone INDUSTRIALS

Cement nope STORES, ETC.

Dairy

1414

0

21.00 23.70 140 1717.30.

15,00 10.30

13.80 10,10 500 19

000 or 10.00 Wation.... 24.70 21.40 600 2.30 Sun Co ....1.00 500 1.00 COTTONS

Ewo

4.10 100 216

Yangiste ... 3.GO

The British-owned Angie MISCELLANEOUS

Egyptian Oneida Ltd. hopes to resume its acarch for oll deposits

in Egypt as a result of a new mining law announced here a

-2000 € 8.82

commany spokesman said today. Exchange Rates

Tho now law is aimed at encouraging foreign investment,

Tho' spokesman said: "In con- Business was done in the loesi junction with other measures unafelal exchange market

morning at the following rates.

which, it is hoped will shortly be us, dollar (per $1) kar* taken it will enable the company Sterling note (per *1)

in

As it stands, this Article is non-discriminatory in action. In other words, if a tarif · con- cession is withdrawn from one

that

such action is necessary to of pay-

and

Futures

un-

New York, Feb. 24. World sugar

futures closed today 1 to 1 lower with sales totalling 157 contracts.

Contract No. 6 closed changed to 2 lower with sales totalling 93 contracts.

Contract No. 4 (world) March

3.42 bid A favourable vote by a full Atay July session of GATT does not neces-

September sarily imply therefore that Japan October will automatically be granted January

treat- "most-favoured - nation"

uke.

their

ment by all members. And, even May If it is, discriminatory action

3.42

3.43

3.43 bl

3.40 nominal

3.05

March.

3.42

Spot

3.44

Contract No.

5.08 5.56 bid

September November March Spot

member it must also be withhey still be taken against it if May July its trade with another member drawn from the others.

It was tends to be so onc-sided that felt by certain countries that serious balance of payments this ruling could be changed to problems arise. enable the Article to be invoked against a particular country.... Japan-without harming others unnecessarily.

PRESS COMMENT Leading British`nowspapers react mildly to the proximity of Japan's entry Into GATT an- A SAFEGUARD

nounced from Geneva,

The "Times," concerning itself This suggestion was turned with the question of safeguards, down by the ceremittee on the states: "It is generally agreed- ground that "if additional safe however.. that any safeguards guards were found necessary to which might be introduced Into meet special difficulties, these GATT before Japan's accession should be of general application should not be aimed at Japan

that Japan would be in a individually. position to accede to GATT with

"Nothing could be

20

5.90 nominat

55.94, bld

9.30 nominał 5.70

United Press.

Trade Pact Prospects

Karachi, Feb. 24. Sources here speculated to- day that n new trade agree ment between Pakistan and India is near following the more sudden departure for Tokyo of the same rights and obligations quickly fatal to the whole the

Japanese negotiator. as any other contracting party."agreement than an attempt to

to The chief previous hitch In the event, the comitice create a special category of sui-

ngreement has been decided that members' interests peet or second-class members,

Japanese to indifference offerings iii the initial would be sufficiently safeguard-particularly if

dit- Sacked if Article 23 were amended erimination were to be practised

Pakiston www cotton and Incic to speed up the process by which against one of the principal

of Pakistan interest In pur- an injured party can seek to trading nations of the world.

chasing Japanese cloth. unduo defend itself against

"Unfortunately the only

The Japanese envoy foreign competition to its home alternative is to extend stál Korachl

report on Sunday to market,

further the escape clauses of an to his Government on his talks Under this Article, a momber agreement in which already the hero last week. Associated can place itself in the hands of escape clauses rather than the Press, GATT that is to say, of other binding obligations domitate." members-If a "sudden Booding": The Times" sana up: "But it of its hane market threatens to is clear that the process of

LONDON TIN

MARKET

left

London, Feb. 24. The tin market was steady today.

Turnover was 10 tons, produce violent diruption of weakening GAFT by additional JAPANESE BONDS Including 15 tons for cash and trading conditions with ·serious (escape provisions. cannot go any 25 tons for early April. Prices adverse repercussions for large forher after this, Japan's is a closed at the end of the offelní | sectors of production.

{ test candidature and no other In these circumstances, GATT country's, application hencefor- morning nession ns follows:

"may" relieve an Injured party ward can raise further from its obligations. But if was difficulties beyond those which

such an recognised that In

are now apparent. If the world →→→ | "omergency" much might dewants to keep GATT the adjust- pend on quick action. Therefore, meils thade to facilitate Japan's the committee proposed tha? | entry must be final,” ·

this "0.0325

Spot tin, buyers

Bpot tin, milers ava

19900

| Businow done at

059

155.137

Three-months in, buyers is

Three-months tin, allors

to investigate areas for which Indonesian guliders per 100) 2160 we have applied for prospecting iam dicats per 100) Beences some time ago."euter,

Singapore (Straita)

plastres (ver. 100)

18.

11.45

Business done at asarukicha, ni Settlement

040

talled Primm,

Japanese bonds

London, Feb. 24. "A" (4, of 1899) "B" 45. of 1910)

844

734

**CT (03, DE 1907) "DBs, of 1934) *** (825. of 1930)

120

104

185

Consols

59%

United Press.

Tel, Nos. 36O60-9.

M.V. "LA MARSEILLAISE'

will sail for

Yokohama and Kobe.

on

WEDNESDAY, 25th February 1953

at

.'

8 p.m.

Passengers are requested to board the vessel with their

cabin baggage on the 25th February, between 3 and 7 p.m. Baggage Room and Hold Baggage will be registered at . Kowloon Godown No. 50. (No. 2 Gate, Canton Road Entrance) on 24th February between 2 and 5 p.m. and on the 25th February from 9 am, to noon only. No baggage will be registered after this time.

CIE DES MESSAGERIES MARITIMES Queen's Building

Tel: 26651

BUSINESS REGULATION

ORDINANCE 1952

Copies of the prescribed Forms 1(a) 1(b) and (c)

Now On Sale at S. C. M. Post, Ltd. HONGKONG AND KOWLOON

TEN CENTS EACH