1953-03-05 — Page 9

Page

Creating A New Industry

India Running Into

Difficulties

New Delhi, Mar. 4.

India is walking a shuk- ing tightrope with inter- national connections in its

effort to create a national motor-car industry.

It is balanced between presure from antiorial groups are! -

THE CHINA MAIL, THURSDAY, MARCH 5, 1953.

Prosperity In Wool Market May Continue

Sydney, Mar. 4.

Australia's wool growers today are asking about half the money of two years ago, but they are not worried. They are still the richest group in the land.

The big man who grossed £100,000 in the tereated Industrial blues to build | boom year of 1950-51 is now grossing £50,000.

Indian ears for fridit ind possible adverse effects of the -move on potential foreign invesi- tors and on completion of India's five-year development plan,

The annotineet policy of the Government

forte

assemblers of imported including American, British anel Capindian companies, into manu- facturing or out of business,

Its chief weapon is a sharp control of imports. the of this weapon brought an announeus ment from General Molors that Its Bombay assembly plant employing 2,000 Inrlians musi cluse in April

when availalde parts for assembly run out.

In 1950 the Indian Govern- ment summoned 11 car rampatovs assembling

and cars in Tria asked for a show of hands of plan for manufacture in the Jiture. It worned that the who declined to make such plans woule nd their import quita shifted in those who did.

QUOTAS SHIFTED

Behind this move was pressure Troms The Birla controlled Hindustan Motora

Congany of Calcutta-procuring * partly assembled, partly manufactured Judian version of Britain's Morris Minor--for a bigger a hare of the available market.

Five of the 1 companies shit! *10," These included Gineval Motors and Ford, which operate in Tortis through Canadian oflintes. All live said it was economically impossible to man- facture cars without on outlet for at least 50,000 units a year. 370,000,000 year India's people bought less than 20.490

Inst

cars of all makes.

The small man who made £18,000 in the boom year, will have around £5,000 this year. That is still a tot more than most city executives can show on their tax returns,

The word price today is about ; wood income at 1816-47 was only half what it was two years mo £92,000,000,

over

The biggest loser in this drup From July 4, 1952. to the enti Is the Income Tax Commissione,,ní January this year, Austration who callerts tax for the Auss word has brought Just tralian Government. He thts | £210,000 (60 at the season's taking 65 per cent of income over total looks as if it will be well over last season's £000,000,000. 5,010 and at £1000 the rate is up to 70 per cent.

Those figures make it fairly clear there has been no slump- just a bon, then a feveiling off of priems still at a relatively high level,

You can see, the wool grower, or grazier to he is called here, does not have to worry about the price of a pack of cigarettes.

The grazier in fact a pirated about the present whol price and for three very good reRRIST

1. He has hugh money not to wary about spending an oddj

For .

4. The pre seen alable, and it locks as if he can plan on his income staying at the present; level.

3. The price has not the same incentive la. the development of syntheles to replace wool, as was the boom price of two years auto, NO SLUMP The reword prices of 1930-31, when Australian wool snid fur £630,000,000 never reumed real

Australia. Lea anyone!

i

With theges stable prices for 1951-52 and the Best half of the present season, woed growers are looking into the future with con- idence that prices have stabilised beyond their wildest dreams.

Alt 100,000 men on Aus- (tralia's 115,008,000 sheep,

thousand

Ten

are big graziers wh produce about half of Australia' wool on properties of 5,000 to more than 100,000 acres.

The 10,000 small graziers felt the boom in quite a different way from the bit man, who was always well off anyway.

A MIRACLE The The small man who owns say 1,500 sheep and produced 40 bales of wond (of 300 pounds | each) before World War II, got 500 for his wood elit. In 1950-

Shippers? Warning To Ceylon

51 he got t samething like £3.00 for 40 bales, and today has ettled down to a tidy little in- cone of £4,000.

To that man the boom was a mirnele. ile

was able to pay off his dents and own a car as well The stable as a utility truck. conditions since have enabled him to improve his lund, his Colombo, Mar. 4. house, and his family's standaru ship-of diving. Now he probably has Ceylonese rubber

the fluest though

machinery o they Birla's have been given preferen-his sheep station.

The remaining six, including Premier Automobiles of Bombay

pors-even

is

(in tolliance with the American Chrysler Corporation),

The boom was on a grander Hindustan Motors (which also fial treatment-warned the scale for his big brother, the assembles Studebakers), and the Government today that the grazier whose Incume put hims Automobile Products of Indut

heading for into the millionaire class," country (85 per cent dinn-owned and

During the boom, the big man associated with

British chaos the

over its recently paid his taxes, and still found Rootes group) all promised they concluded karter agreement he had much money to spend. would manufacture cars "as suot

with Red China,

He may not have spent it all, bu as possible,"

Furthermore, they requested he spent a lot.

At the time there was the Minister of Trade and Com- merce argently to consider re-shortage of labour and material turning the business to the trade which, from Its inception Ceylon, has been in the hands nationals

Subsequently, the Indian Government shifted 20 per cent of the import quotas of the five who said "no" to those who promised compliance with Juanufacturing programme,

Import permits

the

of the British.

Thesn Ceylonese

were further have obtained a monopoly to tightened-without-a-new-public-hit rubber from Ceylon-through announcement of future police Government Rubber un A General Molors spokesian in India

Said his company hadisioner who plays the role of

pole exporter. oblained no permits for the past year.

to improve his house and land, Thus he bought a Rolls-Royce, bigger refrigerator, a deeper freezer, and radiograms for each of the chikiren.

CHANGE.

wife probably "gota ̈Tow diamonds, and together they had an nir trip round the world.

But that was all. His house Now, however they state that still needed a coat of paint, the the Commisioner experts guttering was leaking, and rab- shippers to run the risk of losing bits still ate his grass.

Men

Taiwan Trade

Estimate

Taipei. Mar. 4.

The Bank of Talwan to- tay estimated Formosa's trade for 1953 at US$254,- 120,000,

Trade would About balance Formosa's exports whitch were estimated มริ US$130,000,000 worth ant imports at US$121,620,000,

Private allocations to Im- partern this year were estimated to total US$50,-. 000,000 to US$65,000,000 out of the total Imports figure

of US$124,020,000 compared with US$63,800,- 000 last year.--Reuter,

HONGKONG

SHARE MARKET

ON

COUNTING

JAPAN FOR INDUSTRIAL AID

MESSAGERIES.

M

MARITIMES

M

PASSENGERS/FREICHT SERVICE

Cutwards "FELIX ROUSSEL"

Homewards

"LA MARSEILLAISE"

Indonesian Plans For Modernisation "FELIX ROUSSEL

Singapore, Mar. 4.

Leaver Marsellies Due Hongkong

24 Mar.

20-23 Apr.

X

Leaves Hongkong

Star. 22 Apr.

For Manila Due Marseller Vla

8. Apr.

Nalgon

Reloa

West Africa ports.

viz Marseilles to all Mediterranean &

via Djibouti to Madagasent.

Dutwarda "MEINAM"

Indonesia is anxious to get on with the work of industrialising the country as quickly as possible, and she is counting on Japan, far more than any other nation, to supply the equipment she "FRY HILL.” needs.

HomewarỦA

"COURSEULLES" "MEINAM"

Leaves --Dunkirk--ṣaffeð

23 May

FREIGHT SERVICE

Dur Hongkong

3 Apr.

For Japan

Tine Hongkong

- Keeling- 7 Mai

Keelung→ & Apr.

Fo

牮

- Kerling 2K Apr.

5-10 Mar

K Apr

30 Apr

↑ Saigon, Marseilles, Algiers, Oran, Tanglers, C'aslilanes, Le Havre, Antwerp, Rotterdam & Dankiek

[

But trade relations between the two countries are still hampered by two major difficulties: the peace treaty with Japan is not likely to be ratified in the near future by the Indonesian Parliament, and the problem of Japanese war damage is far Queen's Building (Gr. Floor) from being solved.

Mr Darmasetiawan, Secretary- Generat

of the Indonesian Foreign

Office told Agence- France-Presse that the question of Japanese war damages had bean gone into very carefully in the course of conversations with Mr Weiji

Wajima, Director of tics and the morning's trans- Foreign Office, during his re

Economic Affairs of the Japanese

(From Our Correspondent)

Business done on the Stock Exchange this morning amount- ed to $102,345.50. Noon qual-

actione:

KHLAKES BUTERS SELLERS WALER

HANKS

Kik XD Font Ana

INSURANCES,

Unkn

1364

345

734

Underweitern

SK

1.10

SHIPPING

Asta Nav

DOCKS, ETC. K. Whart N. P. Wharf Provident Shal Dock. Whylock Hongkew

LAND, ETC.

cent visit to Indonesia. But little progress seems to have been Inde toward a solution of the problem.

Japanese

Textile Exports

cx-

Tokyo, Mar. 4. Japanese cutton textile will ship less yardage abroad this porters believe that this country

year thun the amount the Government atl facturers estimated earlier this the manu-

year.

The amount of Indonesian claims was fixed, originally, by the Dutch authorities. It is i the neighbourhood of 25 million 100145 Dutch florins. Mr Durmasetiawan said that the current Indonesian demands are far less exacting. Inf fact, the Indonesian authorities asked Mr Wallma ta x the sum that

be the Japanese would willing

the to pay. What Indonesians want above all is to settle upon on inelusive figure.

72

0.40

.. 1260 13 po 500 JEDO

12.00a

2.10

1.55

7

UK Haet Xp

1K Land (N) S'ha Land 1.40

Humphr

Xp

UTRITES

Tram XD ...

1211

20 2015

C. light (0) 10 QA LEHT AND Bectric... 231 Telephone

XD

INDUSTRIALS

Rupe

STORES, ETC.

Dalry

Watsun

COTTONS

Ewo

16.20

1100 60 1.55

75 2350 1000 1840 23001030

12.20

10 10 18.30

24 527 24

2.40

1100 G

MISCELLANEOUS

Yangisay

... 5.8%

5.00

The Rubber

Markets

Prices

Slagapore, Mar. 4. of rubber futures closed today as follows:- Number 1 rubber, per lb.

776-32 April May June

79-7917 Number 2 rubber. April 734-7412 Number rubber, April 60%-70% 07-50% -Number-4 -rubber,-- Apri

+977715 Spat rubber, unholed Blanket crepe No. 1 pale crete

United Press.

NEW YORK MARKET

HAVING TROUBLE

New York, Mar. 4. 40 cents (7d3 per l. for a likely and materials were not available Prices of No. 1 rubber futures Despite the tightening of km- profit or one tent, as the Com-for repairs.

closed today unchanged to 25 Today, India's

Toen higher with sales totalling 127 "man-nissioner has suspended pur owi ports,

al that has

Prices because contracts.

closed as factured" car, the Hindustan, has chases of rubber until definite change, and largely

inate when stable wool prices have helped to follow- had trouble finding a market.

arrangements are

20.25 bid the

back level due

off the country's whole March next ship is

27.70 from Chinn, and space is avail- economy, Materials and labour

are available again.

Homes have been modernised In the nicentima, shippers are expected to buy from producers, and farms improved with new buildings and miles of new fences and stock for shipment.

to keep out the rabbits.

the The graziers look for present prosperity, to continue. Asantiated Press.

Production bes halled for several motrihs because of a the top-heavy inventory, and compony sttempted to populariso Its hybrid product by gifts of sample cars to Prime Minister Jawaharlal Nehru and President Rajendra Prasad.

able,

And the plaintive cry now from Ceylonese shippers is "low can we purchase rubber at 40 cents above the warld price if

have no

ww

manu- rubber?"

outlet for out

Executives of the Indusian Company confirmed the claim of other compantea ihal facture in India is uneconomical

European chippers In Ceylon, unless a market for at least

who felt they were treated un- 50,000 cars a year is guaranteed.

fairly when Ceylonese nationals Present output is being sold at

were given préference und the a loss, they said, in hope that bigger sh

share of the market will Government became the sole ex-

At

them to break even,

At present

permit Company engine--from a block cast England-its gear box, rear axle assembly,

the Hindustan is building its car's

Bon

and front end in Indin. The re- of the induston" is assembled from parts imported from England and processed and finished in the Calcutta plant.- Associated Press.

IMPORTS TO

BE CUT?

Sydney, Mar. 4.

Increased bulk handling of wheat is expected to cut Austra lia's imports of jute from India by 10 per cent during 1953, ac- Trade cording to the Indian Commissioner, Mr

Mr T. G.

G. Menon. Mr Menon rald he was watch- ing kenaf experiments being carried out in New Guinea. He said, however, that kenal fibre was not at present regarded ne a potential threat to the Indian Jute trade,

porter in order to meet the Sino- Ceylon trade pact, are however, imperturbed at the present trend of events.

Grain Prices

In Chicago

Cotton Prices

In New York

Prices of

catton futures closed today as follows:-

New York. Mar. 4.

3420 nominal 33.45-33.47 33,31-33.52.

December

July

Chicago, Mar. 4.

were lower Chicago grains along with the major commodi- May ties, reflecting partly the uncer-October tainty over the securities activi- December ty and the international situs March Lion. Liquidation und selling In May July grains depressed the market with soybeans the hardest hit. Wheat closed to lower and soy-

May July September December

are

h

20.75

28

20.00 nomina?

22.15

**

0.00

-United Freas.

LONDON MARKET

London, Mar. 4. Prizes of rubber futures closed today as follows:-

Nuniber rubber,

in pence per lb.

April

May

June

April/June

July September

October/December

United Press.

New York Sugar Futures

New York, Mar. 4. World sugar futures closed unchanged to 1 higher with malen totalling 67 contracts.

Contract No. 6 closed un- changed to higher with sales toiling 177 contracts.

Prices closed as follows:- Contract No. 4 (world)

3.42 bid

Spot March May July

33,70

October

13.12

33.01

March

23.01

May July

13.05

33.20 nominal

-United Prens, NEW ORLEANS MARKET Spot

33.00 33.46 Marca

35.31-33.12 33.08-33.70 33.74 33.00 31.90 bld

May

34.04 bid

33.56 kid United Press,

March

Brat

3.42 bid

3.43 nominal 3.40

2.35"

3.2421 2233- 2.20.2.20 2.304/

2.3011

London, Mar. 4. Japanese bonda

"A" (45. of 1999)

May July

Contract No. 6

4.71

5.89-1.50

04

September

5.01

of 10)

7111

November

"C" (65.

127

| March (1954)

103

Spot

2001

United Press.

beans were 1 to 2% lower. JAPANESE BONDS

Prices cinced as follows: Wheat-price per bushel

Spot

March May July September December Comi Spot March MAY

July September December ByC "I expect, an a rough estimate,

March that there will be about 10 per May cent, reduction In iute orders als here, mainly because of bulk March wheat handling," he said. United Fress.

.1.79.

at 1907) 16. of 1034)

"E" (of 1930) Consale

Metal Price In NY

Jus September October

January (1954)

1.43 bid

3.43 bit

3,47 nomina!

3.56 momina

5.94 nomanal

5,43 nomina) 3.70

Untied Press.

Exchange Rates

Business was done in the local exchange market this morning at the following rates: US, dollar (per $1) ******** Sterling note (per £1) *** Indonesian guilders (per 100) Stam ticals (per 190).

New York, Mar, 4, Prices in the

unofficial metal market closed unchanged with...... the following exception:--

Scrap copper, fo.b. per ton $22.00-$22.00.—United

New York flomper 200 10 Lack (light)

$12.30 nominal-Unlled

Press;

* **

Bingapore (Straits)

FIC plastres (per 100)

15.00 21.20

35.40

17.50

however,

in 1053 at

According to the Kyodo Press, places the the latest estimute expected cotton textile exports

806,000.000 yards more than 200,000,000 yards less than the earlier estimate 7,100,060,000

yards.

Kyodo quoted the exporters In all probability.

breakdown of the estimated 1953 Dinkarta

in walking for the shipments as follows: 126,000.000 negotiations between Tokyo and yards to the dollar area; 508,000,- Manila, on the same subject, lo000 to the Sterling Aren countries

and 202,000,000 come to a successful conclusion. and

to the open account countries. The Philippines might agree to According to this report, ex- have the Idea of an inclusive porters basen their estimate on settlement for damages in favour the following assumptions: of partial controels

covering 1-Alterations in barler setile- specific damages in a particularment methods will result in a domain: for example, Japan increase of about 4,000,000 yards would have to salvage sunken in exports to the deling blue. Filipino ships, or rebuild de-

that Pakistan molished wharves etc. in pay ment of damages.

NOT AVERSE Indonesia would not be averse to this procedure, but she insists that an inclusive figure must be Axed. With the Indonesian cialms in hund, Mr Wojimo promised to submit counter- proposals rapidly. Once assured |

inclusive

agreement, Indonesia would accept partial payments both in kind and in services.

Industrial equipment supplied in compensation for war damages would be the most acceptable form of payment.

an

2.-Assuming

will import 252,000,000 yards, ex- purters believe that at fenst $40,000,000 of this will be from

same

Japan. Shipments to other Sterling Area nations during the second half of the year will be

the about

38 the NUNES corresponding period in 1952.

3-Shipments to Indonesia are expected to increase by 10 per cent to about 165,000,000 yards If the current trade volume Is expanded and settlement made partially in Sterling. Exports to other open account nations are expected to rise by 30 per cent the Japanese export promotion drive is effective enough.--United Press.

LONDON TIN. MARKET

As for the treaty with Japan, it does not seem likely, in view of the

present polllicul ni- it mosphere in Indonesia, that will be ratified in the near future. The two parties which form the | Coalition Government, the Masjumi and the NIP, are in

London, Mur, 4. complete opposition on the sub- The in market was steady ject, the NIP stubbornly ré- and quiet today. Turnover was lusing to consider ratification. 25 tons, including 15 tons for It would take the elections cash. Prices closed at the end promised by President Sukarno, of the offcial morning session and the election of a new Parliaus follows:-~ ment, for

the Government to pain, buyers Spol tin, cilers dare to submit the San Francisco Business done at

Three-month tin. Treaty.

buyers D42 Three-montha tig Keller Вилена Доло дв

nil 139

But no one in Indonesia ex- pects elections to take place for Settlement

a year or 18 months. So at least two years will go by before the Japanese Peace Treaty has any chance of being ratified. And in cartain political

in

circles

057

15.9

040-459

United Press.

Copra Quotation

Plakarta, they advocate that this treaty

should be dropped entirely Copra and a private treaty be drawn $222.50 up between Indonesia and Japan, c.l.f.

New York, Mar. 4. was quoted today at short ton, bld, Pacific coast.

quoted at pound, asked.-

per

the

oll was

on the lines of the one which will Cocoanut bind Japan and India. France-17 cents a

United PreRS, Prosse.

+

m.v. "LA MARSEILLAISE"

will sail for MARSEILLES

via

MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ and PORT SAID.

оп

SUNDAY, MARCH 8, 1953, at 10 p.m.

Passengers are requested to board the vessel with their Cabin baggage on the 8th March between & and 9 p.m.

Baggage room and hold baggage will be regis- tered at the Kowloon Godown No. 50 (No. 2 Gate, Canton Road entrance) on the 7th March from 10 a.m. to noon, and from 2 to 5 p.m. and on the 8th March from 10 a.m. to noon only,

No baggage will be registered after that time. Our passenger department will remain open Saturday afternoon and Sunday morning, the 7th and 8th March, during office hours.

Compagnie Des Messageries Maritimes

Queen's Building.

Tel: 28051 (8 lines).

CIE DES MESSAGERIES MARITIMES

P.O. Box 53. Hongkong

Tol. 26651 (3 lines).

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO: NEW YORK, BOSTON, BALTIMORE & PURADELPHIA vin SAN FRANCISCO, LOS ANGELES AND PANAMA,

NEXT SAILINGS

M.S. "TREIN MAERSK“ *M.S. M.S.

"NICOLINE MAERSK”

"ANNA MAERSK”

•

Calling Vancouver,

ALS.

ARRIVALS FROM U.S.A.

"ANNA MAERSK” M.S. "LEXA MAERSK” M.S. "LEISE MAERSK”

Mar.

7 Mar. 20

Apr. 2

Mar. 7

Mar. 23

Apr. 14

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel, Nos. 86066-9,

Chinese Freight Rooking Office 27, Connaught Road, C.

Tel. 20461 Dates and rotation subject to change without notice.

At liberty to proceed vis oder ports to load/discharge cargo.

EVERETT

EVERETT

LINES

ORIENT LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong,

"LENEVERETT”

Arrives. . Mar. 8 Sails

from Singapore.

Mar. 9 for Robe & Vokedinmi

"NOREVERETT”

Arrives Salls

Mar. 21 from Manila. Mar, 22 for Singapore. Penang,

itangon

Caleutia,

K

(Accepting earko for transhipment) Kobe/Pusan

Kole/Okinawa)

and

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” .

Londing

In Port Sails

Mar. 5

"THAI"

Arrives, Solls

for Singapore, Port Swellen- ham,* Madras, Colombo,

Bombay, Karochi, Kharram- shahr, Basrah &

Bahrein,

1. O from Singapore.. Mor. Q for Kobe & Yokohama.

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

EVERETT STEAMSHIP CORPORATION S/A

Queen's Building, Tolophons 31206. - Chinese Department: Telephone 28293,

BUSINESS REGULATION. ORDINANCE 1952

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

Now On Sale at S. C. M. Post, Ltd.

HONGKONG AND. KOWLOON.

TEN CENTS EACH