1953-02-26 — Page 91

ROYAL INTEROCEAN LINES

MAKASSAIN

"THAMFER" *TEDELBERG

"THWANGU"

JIFANAS" "VÁN MELTIN "TJUANTJËT"

זן

D

BAILING

Singapore,

Te

bjakasta. Bemarang,

Surabala Macathar

МАСЯКИЕ

Singapore, Petiäng. Delawan, Deit #

Mauritius

olgapore, Djakarta, Camerans.

Укра

Surabala a Stackzsar

Mahdia. Miri, Bingapore, Bjakarta,

Maurition, 8. Afikra & 8. America Djakarta, Memarang, Burabata &

Macassar

Djakarta, Somafab. Hurabala "Miscassar

Manua. Singapore,, E. & 8. Africa Djakarta, Betrial, Surabals

Bingapore. Djakarta. Kematang.

Arabala & hincassar Ringipore, Džakatiu, Martins

8. Africa & R. America

Djakarta, Semarang. Kurabala

Macaiser

Singapore. Djakaris,

Burabala & Macassar

Manila, Kingapore, E. & 8. Africa

Mikasar

Singapore. Djaki

Kursbain & Macausar

Singapore, DJakarta,

Häuth Africa & 8. Americs

Djakarta Semarang, Barabala

Macke

A

"TIWANGI

"STRAAT ZOENDA" Mar **TJIPONDOK"

Mar,

3

Yokohama, Yokkaichl

Kobe

Mar

1

Djakarta. Bemarang. Rurabain

"TASMAN"

*

“TJLUWAI"

STAR.

*TJISABANK "STRAAT

Mar 17

Adat.

Atar. 23

Mfar. 29 Apr.

Jati

#

Singapore,

Abr.

Apr,

Japan

Apr.

"TILUWAR”

"TEGELBERG“

Apr. 14

Apr. 22

#TJIFUNDOK"

URUYS!

Apr. 23

Apr. 23

Зорал

MAY

2

*TITJALENGKA"

*TJIDANTJET

May 4 May D

May 14

May 1# May

May 23

Зарак

ARRIVAL

New York, Feb. 25. More business and perhaps | "IJIWANGP"" more profits-are predicted "straat BANKA” for this year by a number of optimistic executives.

"TJIKAMPEK"

US. corporate ↑ "Tamuwan"

Althougli the communique, ment, early in 1951.

by the inter-sessional member countries will then have enumittee does not mention any to decide whether they wish to dates for the tariff negotiations renew them for a further period, with Jupan, it makes it clear with or without modifications, that "a substantial majority" of The British view all along has the member countries represent-been that the proposed accession

The condence note is sound- ed at the Geneva discussion of Japan ought to be considered by herds of companies in the until then the context of some such steel, oil, texifle, paper, com- conference on another round of tariif

for a general comprehensive review of existing muntentions, building and eredit tariff concessions. There have

felds. arrangements, It has beer

deen

Stabilised oll pointed but that

prices. with been three such conferences so the G.A.T.T. concessions matte world consumption Inerensing by far: at Geneva (1947), Annecy from 1047

about five per cent. is predicted onwards (1943) and Torquay.

negotiated in the light of the by Eugene Holman, President of known facts about the industrial Standard Oil Co. (New Jerrey). He thinks the profits of his ecen- cost structures of a given set of en countries. The entry of a very low cost producer, like Japan, with world-wide trading terests would obviously alter the whole pleture.

were

"BUY"

"TJJWANGI”,

In Port "STRAAT SUENDA" Mar. * "TJFONDOR"

Mat MAT. 7

"TASMAN due to

In any case, all the existing | tarift concessions negotiated

through G.A.T.T. Bre come up for a general review. under the terms of the agree-

HONGKONG

in-

in 1933 will be as good 105, which he estimated vere

little below the record 1951 carrings at $528,000,000,

D J. Rursell, President 时 Southern Pacific, thinks his In particular, Britain might railroad's 1953 revenues should wish to make fresh arrangements be as good as 1952 and perhaps about Imperial preferences. For beller. He is also optimistic 21 one of

the Commonwealth about being able to hold down countries decided 10 raise arising operating costs. He bases Import duties on some manu- his optimism in the outlook for factured item in order to protect agriculture and industry in the itself against Japanese compell-fort, growing Westerm and tion, and were at the same Southern territory, time bound by the "no new pro- Record-breaking operations ference" rule, the effective value for Armco Steel may be in the of the preference to British ex-making, according to Charles R. (From Our Cortespändant!' | porters would inevitably be Hook. Chairman, The whole

reduced.

SHARE MARKET

Business done on the Stock IMPENDING EVENTS Exchange this morning atnaunted What the communique of the to $288.231.00, Noun quotations Geneve inter-sessionat committee and the toning's transactions: indicates is that most of the SHARES BUYERS SELLERS SALES BANKS

steel industry, with its new high capacity. Inny produce more steel this year than ever before. he says. He thinks Armeo will sell about as much as it can make this year because of the prospects for continued high spending for business expansion and consimmer and defence goods. TAX ISSUE (c) the general Building prospects took good existing

tarlit con- to 0. S. Mansell, President of

GA.T.T. countries represented on it now take the view that the three Impending events on the HK Bank XD 1350 1305 10 1300

3 1360 G.A.T.T

programme, (u) the Fast Asia

70 148 tarif negotiations with Japan. INSURANCES

a fresh round 785 (b) a 13

of tariff con

DOCKS, ETC, R. Wharf Duck... Provident Wheelock Hongkew LAND, ETC.

IK Hotel

ik Land (0)

Kard (NI S'ha Land Humphrey's.. UTILITIES

Trăn

Star Ferry

145

*00

20

49.7

2900 61 7

7.00

600 $3

1.50

99999

ཝ

Long And

of

500 13.0 cessions, should be run together Celotex Corp, "We expect to da

and covered in one conference.

ence, considerably more business than

400 33

70032 3000 94

1.65

100 ve 115 2000

21.40

1000 211 110 XD

The

The opening of such a con- the $52,000,000 of last year," he ference could

be delayed rays.

not

Djakarta. Semark,

Front

Bursbala,

A

KEHATAN,

Hurabnia #

Bemarang,

Maurition,

Djakarta & Singapore

Senjatacg,

8. &È. Africa, Mauritius & Slagujorɑ Japan Зарар

KING'S BUILDING, Ground Floor

TEL. 28016/18.

CHINESE AGENTS: 82 CONNAUGHT RD, C. TELŃ, 31100, 25137.

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA.

I

NEXT SAILINGS

M.S. "TREIN MAERSK"

"M.S. "NICOLINE MAERSK”

M.S. "ANNA MAERSK"

Calling Vancouver. ARRIVALS. FROM U.S.A.

the

M.S. "PETER MAERSK"

M.S.

"ANNA MAERSK"

M.S.

"LEXA MAERSK"

beyond next Witter,, in view of Things look brighter to

one of the big textile the early 1954 deadilne for the head of completion of the review under companies. Henry M, Bilas, (b). Indeed, the scheduled date President of Pacific Mills, noting of the next full session of a big plek-up in sales and profits GATT., September 17, in in recent months, says that if Geneva, might well be taken as

The read continues the com- pany may be justified in resum- a convenient starting point.

ing dividend payments on com- © Light (0) 11, 830 500 1° 0.30

GENEVA MEETING? LIH IN) 0.10

mon stock. The Directors failed Electric

Judging

by past form, the to make.

Inst Tefeptione XD 11.20 17 1003 17.30 routine matters, which will have two quarters.

payments in the 1000 17.50 to be disposed of tirsi by this INDUSTRIALS

Western Union Telegraph is Cement XD. 15.70

session, will uccupy several looking for better days ahead, Rope

10.70

weeks. The general negotiations says Vice-President T. F. on tariffs might then begin in MoMains, on the prospects for the late Autumn, either in continued-high-level-husiness- Geneva or elsewhere.

STORES, ETC.

Dalry

Watron

23.50 23.70 243 g 23.60.

24.10 243 Crawford

28.00

Ewo ........ 240 2.35

Dr Shinkin notes that the | COTTONS Soviet Union has large reserves of minerals, "In most ferrous metals and non-metallies and in fuel," he reports. "they are adequate or abundant, to permit self-sufficiency for 20 years more of intensive economie development. On the ther hund, the reserve of most non- forsus metnic and uther

ninerais, such as diamonds and tusten, range from doubtful adequacy to negligible size.

mining

the

"But the situation os at pre- stut know reflects primarily the pioneering stage of Soviet

and prospecting! velopment. Even

pre- Jiminary geological recon naissance that sums up present knowledge of most of the Soviet Union has brought out, beyond question, the great vir-

structural diversity tsalir limitless ultimate poten- tually talities of Russia's lands, The wealth of the Urals may well be duplicated in Turkestan ond Central Siberia," — Associated Press

or $101,000,000 higher than in New York Sugar merchandise ImportsSeptember, despite the

highment in December of $181,000,- generally remained at a level throughout 1002 with a 000 payments on the Canadian decline of nine per cent from und U.S. loans.

the first to the third quarter

the lower prices and

but

The gold and dollar, holdings being largely accounted for by of non-Sterling countries

scasonal Asia increased $103,000,000

April-September, physical during

this mainly accrued U.S. merchandise exports, rise of $91,000,000 in Japans

holdings,

declines 10

volunte,

the

par

excluding those affected under military aid, declined 20 cent from the first to the third quarter.

U.S. economic aid to foreign

quarter

Futures

New York, Feb. 25, World sugar futures closed today 1 to 10 points lower with sales totalling 22 contracts.

Contract No. from the

6 closed un- changed to 2 higher with roles totalling 35 contracts.

Contract No. 4 ̈(world)

3.41

3,40 bid

3,41 bia

21.41-3,42 3.44

3.65 nominal 3.30 bid 3.40 nominat 5,40

Indonesin's holdings in March but 1952 totalled $420,000,000 declined by

to $367,000,000,

March

September

to

quarter, but dropped to $587,-

The Philippines' countrica lo the Arst

gold and Mollar holdings declined in Sep- was $387,000,000, increased

from $115,000,000 in the second tember to $329,000,000

the March total of $339,000,000.

MAY July September October January March May Spot

Bay July

Contract No. 6

5.70

September,... November March

5.03-0.04

0.00

0.50

5.30

000,000 in the third quarter,

MAIN FACTORS

in

At the turn of the year, *

improvement In addition, the U.S. capital substantial outflow receded

the most balances of payments ap- Vuring third quarter from the previous peared to be basically the out- high peaks earlier in the year, come of the high level of bual-

ness activity In the United Spal States and of a definite Bloc- The decline in the U.S. ex- kening of demand for U.S. port surplus and the increase goods" abroad which in turn In US foreign aid thus were reflected the abatement of In- mom force deterisining the falloniary pressures

The in movement in foreign gold, and major countries and areas.

Many countries appear to be

sitides greater

deint holdings.

in

Lauri Amerlen and the makin Sterling Area did not show stabilising their econimics than Apr11-September

but at any flme since the war.- gains There was a considerable sinc-+ | United Press.

United Press.

Copra Quotation

New York, Feb. 21, Copra was quoted today at $222.50 per short ten, asked. elt. the West Coast. Cocoanut oll was quoted at 17 cents a pound-Unlled Press,

700 19 500.06.19

The Rubber

Markets

Prices

of

Singapore, Feb, 25.

rubber futures closed today as follows:-- Number rulber, per lb.

March April

April

May

Number

Number 3

rubber, March

7814-24 *-

7036-97

activity.

However, so far there are no Tempering this talk of op- definite proposals on dates, Aimism, however, was one cau- final decision may well be delayed tion sounded by

executives.

most of the

for some time yet.

First of all, the report of the Profits, they uate, will depend intcr-sessional committee on the

a lot on what Congress Anally does about taxes. Associated conditions for the proposed ac- cession of Japan must be con-Press. sidered by member Guvernments. Next a full session will have be called to vote on the Japanese candidature. This seems unlikely to take piace much before mid-Summer; 11

many even be delayed until the regular full session in mid-So

-September,

7745-70 the framework of a general

68.10 D2-07

Untied Press.

NEW YORK MARKET

multilateral

Mor. 6 Mar. 20 2 Apr.

Feb. 28

Mar.

ឆ

Mar. 22

For Freight and Further Particulars please apply to:➡

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos, 36066-9,',

Vales and rotation subject to change without notice. ........................ At_liberty_to_proceed_via_other_parik..to..load/discharge, cargo,

The Outlook For British Shipping

Advance In Best To Come For Passenger Liners?

Wall St.

Stock

in

London.

The Chamber of Shipping Tramp Freight Index för January fell very slightly to 96.0 from the December figure of 98.8.

of

ONLY FIRST STAGE

New Yoth, Feb. 26, Now that Britain's insistence

prices spurted points-first that the 7924-2 on two 74 actual tariff negotiations with fractions to over a point today

The current level of freight rates could March 2013-71 Japan should take place within on the news that the Govern Number 4 ruchber. March..

ment has 11fted price controls on Spot rubber, unbsled

scarcely be said to favour tramp owners, but there Blanket crepe

a new long list of items. No. pale crepe

tarifu

Dealings totalled 2,200,000. Of is some consolation to be gained from the fact and secondly that the

1.188

issues tradert, 084 written into G.A.T.T. against

that the index has been remarkably steady for unfair competition by Japan or advanced, 247 declined and 257

the last four months, says the "Financial Times," anyone else should New York, Feb. 25.

come into were unchanged.

Tho

session operation automatically on the

was the mos! Prices of Number 1 rubber initiative of the country affected active

If the revival from the very, profit margins of the owners of this year as dealings fultires closed today 40 to 70 by It-there is no longer aty picked cn, or the

low rates fixed in August and 24m. grois tons of tramp ship- Government points higher with sales totalling obstacle to a favourable British announcement. Prices firmed at

September has, not in itself been ping-less than

one-sixth G1 contracts. Traders reported vote on the Japanese appllen- the

for Britain's merchant fleet. When the news spectacular, it represents opening, dealer covering in both spot and tion to join GATT.

that price controls, kad been many trep owners the There is more than three times futures

mor difference between a considerable the items including The vote, however, is only the lifted on

copper,

lonnage of British occan-› steri

leas and a slight margin of profit. going liners proddets

and

and as tramps. first stage: it simply allows

There is obylously no ground while there is no index of the members 10

the market Airged negellate with aluminluiti

forward. Measured Japan under the G.A.T.T, rules.

in averages, for optimistic forecasts for tramp rates which they charge, is is Industrials closed $1.45 higher shipping in 1953. Some Improve-known that they have not been 20.00

The negotiations themselves are

ment in the level of world trade subject to the name violent flue- 07.20

unlikely to be either easy or

and Utilities five cents Higher.

can be confidently predicted at tuations as affected tramp rates. 27.00 nominal short.

Dow Jones Averages at the least for the next six months, but Furthermore, North Atlantle end the

of session alood

nothing approaching the con-passenger träffle at 838,000, wos follows:-

ditions of 1951 is likely to be re-the largest in 1952 for 22 years 30 indutrials

peated.

and it is hoped that even this 20 ralis

The marked revival of in-gure will be exceeded in 15 dinitles

In Cochation year, terest in Shipping shares

une

markets along

from Inquiry factorles. Prices closed follows:-

with

ho

March: May July Suptember December March Spot

26.20

28.00

20.60 nominat

Banded

United Prom.

LONDON MARKET

London, Feb. 24. The rubber market was quiet and steudy. Prices closed a follows:-

Number i fubber, in paries

per lis

April

May

Juho

Cotton Prices

In New York

New York, Feb. 25. The colton.market closed to- day an the bottom to off 4- to 15 points. Prices

closed as

follows

Spot

March

October/December

May July

-United

April/June..

July/Beptember

October

Десстьег Maret May July

Exchange Rates E

33.07

33.55

13.07-33.68

39,70

41 04

53.09 nominai

03.14 bid

Jailed Press.

32.11-33.12

31.81% 3151

bid

40 bonds

as

284.43

110.07

52.50

07.05.

United Press.

recent weeks is therefore all the trote remarkable.

It to: tramps and cargo liners the worst is past, for pastenker

JAPANESE BONDS Ship Times Index of liners it looks as if the best may,

London, Feb. 25.

844 7274

Japanese bonds,

HA" (45. of 1899) "B" (45. of 1910).. "C" is, of 1907).12834 "D" (6 of 1934). 104% "E" (of 1930) 1554 Consols

59-3/10

Valled Press, ▾

NEW ORLEANS MARKET Flax Sood In NY

Busies was Bone In the tocal March Unofficiat Exchange market, this May inutting at the following-vatessa | July US dhline, por 61),

4.0273 October, Sterling nota (*. £li* 15.84 | Dubember Iklonesian guilders per iij: 21.43 Maro Blam ticals (per 100)

34.00 May 1033 July Singapora (straits). Fic plantes (per 100)

12.00

United Press.

Shipping shares has risen by yet be to come. nearly 12 per cent since the end of 1982. A large part of the rise was in sympathy with the sharp movements in the thares of companies which were the sub- | jel of take-hver blils.

NOT PARADOXICAL But Expectations of increazed profitability of shipping also played their

part and despite

LONDON TIN MARKET

London, Feb. 25.

ds

The in' market was steady The present state of the freight today. Turnover was 30 tons, tons for cash, market there is nothing para- Including 20 doxical about these forecasts, at Prices closed at the end of le

session least on for as passenger linere official morning New York, Feb, 25.

follows are concerned. Prians in the seeds" and olla“

The Tramp Freight Index spot tins buyer market closed unchaliged with too often,

Boot in, eilers assumed, to to Business, dana at the following exception:-

measure of profitabilliy of ship-| Three-months tiny iniyers Flax seed, per bushel, Lo.b; ping in general. In fact it is a business done et

Three months, Ein, selform Minneapolis

United gulde-which ruffers from cer settlement Press

tain technical defecisto `the|

$3.04.

Pres