1953-03-13 — Page 9

Page

Future For Tankers

London.

The large-scale construc. tion of oil tankers has been the most striking feature of post-war shilphullding programmes, "Financial Times."

Ky's

the

Today oll taakem represent of all merchant over one-fifth tonnage in the world and the rate of building now in hand promises to increase that pro- portion unless it is balmerd by the scrapping of older vessels.

per

In 1951 the world tanker fleet expanded by nearly per vent and in 1952 by more than 0 cent. By the end of 1952 world orders for tankers of 5,000 demi- weight

Ind Luns and over reached a new record of about 15.25m, tons, or ainest 47

cent of the existing world feet. With mereusing steel supplies, completions thin year are ex- pected to be in the region of 12

per cent of the present trummage.

The rapid development of both all production and consumption which has led to this vast built-

E programme has also served to keep in commission older vessels which under more normal mar- keting conditions would by now have been out of service.

NATURAL TRANSITION Certain unexpected stimuluses, such

the outbreak of the Korean War and the reorientation of tanker routes necessitated by the loss of Abadan, pushed freight rates to nu exceptionally high level.

*

The tanker tonnage scrapped in 1052 was negligible and the presem decline in freight rates even if at first sight it appears The startling change from previous high levels-can be sECR partly as a natural transition in a rapidly expanding industry,

To this is now added the failure ul world oil consumption to expand at the rate expected.

And the temporary oil surplus which has been experienced in the United States in recent monthy Is How having its Corollary in the tanker world.

THE CHINA MAIL, FRIDAY, MARCH 13, 1953.

Empire Association's

International

Cotton

Conference

Washington, Mar. 12. The Agriculture Deparl- ment announced today that the next international Dollan standards ference will be held here' next May 13,

con.

The meeting will be Attended by the ootton trade associations of Bel- Kim, England,

On

Attack Tariff Pact

"WHOLLY ILLOGICAL"

London, Mar. 12.

The situation caused by Japan's application to join the GATT "tariff club" is a condemnation, of Japan, but of the "wholly illogical not France,

provisions" which have been written into the

Germany, India, Italy, Japan, the Netherlands and Spain lo addition to representatives of the United States Agriculture Department and of ship- pers, mills, producers, co- and operative associations various farm organisations in the United States.

Agreement,

This is the verdict passed by the Empire Industries Association and British Empire League on the recommendations of the special GATT committee, which

the recently examined difficulties arising out of Japan's application for membership.

The conferenes, called In connection with the Universal Cotton Standards Agreements, will examine and approve coples of the revised standards promul Kated

last

the Year by

Agriculture United States

under Department

the United Slaten Cotton

in Act, United Standards I'TCAN

Singapore 'Firm Gets Contract

Sitgapore, Mor. 12.

A Singapore frm has been į

These staunch supporters of Imperial Preference point out in the latest issue of their monthly "Bulletin" that the re-entry of Japun into the free world as a trading nation is something which is by no means to be deplored. "Japan," the "Bulletin" writes, on the malpractices in which the "singularly like Great Britain Japanese were wont to Indusgo

us an Island before the war. It continues. her position territory with a large and grow- "Those were utterly to be con- ing population producing little demned, but form

an entirely nothing in the way of raw different problem. materials, Budd mist live, as Great Britain dues, by exporting manufactured goods in order to buy raw materials und food.

The mere fact that conditions in Japan enable her people to live happily in editions which would in no way satisfy most of the peoples of the Western

ster world does not entille other countries to stigmatise her trade las unfair or undemn her for her

Bciency."

Japan's position as a normat

FEAR OF OUTRUSH The fear of GATT membera la centred, the "Bulletin" says, on the sudden outrush of goods from Japan into their countries. This would undoubtedly cause im- mense dislocation apparently GATT dical.'

"with which

is unable to

One of the "wholly Blogical aspects of GATT, it goes on, is that it starts with an assumption that equality of trading facilities attained by

a level of fiscal treatment meted out to all and sundry alike.

iven the contract to hulit intruder, however, has no bearing and an expansion of trade will be

HOW

bridge $4,000,000

wide! Colombo despite world cumpetition from Great Britain, France, Germany, Japan, India und other countries.

chair- Mr J. C. Cammon, run of Gammon (Malaya) Ltd., who is lying to Colombo the final shortly to conclude formalities of the contract, con- sidered the vital fact in secur- inst

FEELING BURDEN The burden of this change will he felt by the independent owners whose tankers are on charter to the big oil companies, and the the contract was the incor- owners of older vessels.

Over 33% per cent of the total world tonnage at the end of last year was bult before the war

15

per

poration in the foundation de- sign of a new concrete pllingt gystem perfected in Malaya by Mr J. Murray, managing direc tor of the company.

-- or durmp its early years;

Piles would be sunk to rack cent built before 1932.

WIN

levet about 90 feet below the

Kelani River Charterers are now increasing bed of the, ly able to choose their ship and Colin and this would save n Will inevitably choose the more great deal of time which would modern rather than the outdated. otherwise be taken up by sink-

It can thus be expected that Ing foundation cylinders For frst time since the war the rock by mvang uf

will see Game this year

sub-presin ale. stantial and realistic --- Keraja- The new bridge across ping of older vessels.

LITTLE FEAR There is little need to fear, however, says the "Financial Times," that the new tonnage now under construction will not be fully in the long employed.

The trend of oil consumption over a long period is hard to assess, but the policy of con- refineries in the structing country where the oil products are used involves additional shipping capacity for the Import of crude instead of refined oil.

The present situation is to a great extent one of readjustment. But as such it is uncomfortable

for sume,

into

HONGKONG SHARE MARKET

(From Our Correspondent) |

Business done on the Stock Exchange this morning umount- ed to $339.470.75. Noon quota- tions and the morning's transac- tions:-

Jap

Mission In Cuba'

Havana, Mar. 12.

A Japaneso trade mis- slon has arrived in Cuba. It was met at the airport by Cuban Government repre- sentatives of the Ministry el Stale,

The 10-man mission will visit Senor Miguel de la Campa, Minister of Slate. today, and is expected to be received on Friday by President Batista.--Franzos Presse.

SALVAGE

AGREEMENT

SIGNED

Manila, Mar. 12. The Philippine and Japanese Governments today sigued

an agreement providing for the salvage by Japan of sunken vessels in Philippine waters as part of reparations payment to this country.

Peking

MESSAGERIES.

Trade

Plans

Gotwards

M

MARITIMES

M

PASSENGERS/FREIGHT SERVICE

To Send Delegation "FELIX ROUSSEL"

To Japan?

Tokyo, Mar. 12.

A Japanese just returned

Homewards "FELIX ROUSSEL"

Leaves Marseilles

ro Mar,

Hongkong

27 Apr. via Morzeilles to all Mediterranean &

via Djibouti to Madagascar.

Outwards

from Peking says Red China is planning to send a dele- "MEINAM" gation to Japan to promote | "FEI-no" trade between the two na-: Homewards tions. Kyodo News Service "ET. said today.

The report came from Yoshi- taro Hirano, a member of the which negotiated In Peking for repatriation of thou- sands of Japanese now Com munist China. The mission re- turned to Tokyo on Tuesday.

the US. Only last Sunday, and Britain jointly announced measures to hall the shipment of strategic materials to Commu- nist China calling for a virtual economic blockade,

Mr Hirano also said Chinese authorities are planning to hold a commodity fair of Red China goods in Japan, The Under-Secretary of For-

Office eign Affairs.

A Japanese Foreign Felino Neri. und

when a Tore Nakagawa,

spokesman said if and chief of the Japanese Mission in Manila, request is received from Chinese

Communists for entry, signed the agreement for their Mr rospective governments In Nerl's office.

The accord was offlelally de- scribed as an "interim agreement on reparations concerning the salvage of sunken vessels be- tween the Republic of Philippines and depan."

the

the

e-

quest would be handled in the the same manner as any which

from the might be received Soviet bloe. He added, however, policy that the Government's on how they would be handled cannot be disclosed. He did not recall any such request having been made.

China Mr Kirano said Red desires to import Japanese galvanised sheet iron and other building materials,

Communists hope The trade directly with Japan stead of through Hongkong traders, according to Kumalchi Yamamoto, head of the Japan- China Trade Promotion Council, said Kyodo, Mr Yamamoto is

The agreement provides: 1. The Japanese Government will provide the Philippine Gov- ernment with the services of Japanese, including the neces- sary operating equipment and supplies, for the salvage work;

2. The Philippines will co- operate

with the Japanese dovernment in providing locally available Lucilities for the salvage operations, The Thilip- How in Tokyo.

take This assumption

pine would

Government will valid, it saya, only if productive adequate measures for the pro-wrote capnelty in all countries was alike lection of the life and property to start with, and the conditions

of the Japanese nationals under which they were treated gaged in the operations: precisely similar the world over.

be

3. Details for the execution "Japan, by being so vastly of the agreement will be agreed

Supon through

consultation between the two Governments:

4. The agreement will take effect after it has been approved by

each Government in ne- cordance with constitutional

different from other trading nations, has dropped a bomb into GATT which may well shake it to. its foundations," the "Bulletin" states.

WOOLLY THEORIES "If it does, it will have done good work, and we may see emerging from the explosion, u General Agreement on Tariffs and Trade based on realitles

and

SHARES BUYERS SELLRES SALES instead of on woolly theorles,

COMBANKS

IK Bank XD

1350

East Asha

145

the 900

INSURANCES

Usilon ----... 77745 Docks, ETC.

would bo Kelani River" feet long. 80 feet wide and capable of carrying eight lines | of traffle, providing essential egress from Colombo to Kandy and other districts.

The present Victoria Bridge, which spans the Kelani River, has room for only two lines-of- traffic.-United Press.

Exchange Rates

Business was done the onl molliesal exchange market

murrung at the following cater

US dollar per $11 Sterling note per 1 Indonesia guilders per 100

Stam tients (per A

Singapore Straits)

Fic plasties per 100)

British Pits Lose

More Men: Recruiting

Down

London, Mar. 4.

unuz which will permit tariffs and other measures to be adjusted to sult the circumstances of each case, the elimination of the most-favoured-uation clause, and the -establishment of the 04 K. Wharf XD

sensible procedure of preferential S. Pt. Wharf Dock

.10 20 500 1 10.10 trading."

Provkten Ok!) Provident. (New).........

Wheebek

70

035

2000 * 10

500+ 12 70

11.20 6000 e 11

7.05

The "Bullelin" recommendations

application

outlines the of the special GATT committee which examin- cd-Japan's

Jar

7.40 8200°54°

IROU 7.35 membership, and

7.35

LAND. ETC.

UK Hotel XD

201

HK Land 107 4014 Shai Land

1.35

Realty

21, 2.30 2000

UTZLITIES

Tim

20

1.00

10. 21.40

35.10

18.25

$2.50

Tel. XD

INDUSTRIALS Cement XD.. Itape STORES, ETC.,

Dalry

XD...

Colliery manpower on February 21 stood where it was at the beginning of the year—at 720,700. Recruitment was well down compared with 1952 and wastage higher.

According to Sir Hubert Houldsworth, chair- man of the National Coal Board, the industry will need ten to twelve thousand more men in 1953. But they must be in the right places.

describes as "unfortunate" its conclusion that

criminate

member.

procedures and upon the ex- change of diplomatie netes in- dicating such approval;

5. The agreement will be- come an integral part of the final arrangements on repara- tlons which will be concluded between the two Governments.

United Press.

Nationwide Campaign In India

NAZAIRE "COPRBEULLES“ "MEINAM" "MONKAY"

Hongkong 20-21 Apr,

Bee Alarsellen

FREIGHT SERVICE

Leaver

+2}unkirk milad „Antwerp-- Apri

21 May

For MANJEN

VE

saleen

West Africa ports.

Hongkong

Hongkau!

3 Apr.

* May

For Jupan Зария

Leaves

Fat

23 Mar

+

Kering 9 Apr. Keelung-20 Apr, Heelung-27 Hay

. Apr.

28 May

30 Apr.

+ Salgon, Marseilles, Algiers, Oran, Tangiers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong Queen's Building (Gr. Floor) Tel. 26661 (3 lines),

MAERSK LINE

FAST FORTNIGHTLY' SERVICE TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis SAN FRANCISCO, LOS ANGELES AND FANAMA,

NEXT SAILINGS

*M.S. "NICOLINE MAERSK”

M.S: "ANNA MAERSK”

M.S. "LEXA MAERSK"

•

Calling Vancouver.

ARRIVALS FROM U.S.A.

to

in-

M.S. "LEXA MAERSK”

M.S. "LEISE MAERSK”

M.S. "JEPPESEN MAERSK" .:.

AGENTS:

Mar. 20 Apr. Apr. 17

2

Mar.

23 Apr. 14

Apr: 21

For Freight and Further Particulars please apply to:-

JEBSEN & CO.

to

Pedder Building.

27, Connaught Road, C.

Kyodo said Mr Yumamoto the council here that Peking officials also are speed- ing up plans to set up trade

enable Japanese organs to

with Red negotiate

China. In Hongkong, Mr traders Yamamoto also wrote that Red invite Chinn, is planning to Japan to open a Japanese com- Communist fair in modity, China-Associated Press,

JAPAN AND P.L

Manila, Mar, 12. "The new Japan is not in- terested in exploiting the Philip- pines but to be of mutual help," Namen Nagano, head of a seven-mian Japanese goodwill mission, said today,

Mr Nagano told a Press con- ference many morc Japanese are today sympathetic toward paying reparations to the Philip- pines.

He advocated a greater ex- change of goods between the two orc. countries. He elted fron sall, lumber and pulp as articles much needed in Japan.

"We are able to import up to 4,000,000 tons of iron ore from the Philippines," he said.

**But

greater flow of trade 7 7.10 1000 #705Lction taken to protect domestic

could only develop after we industries against on influx of

redeem ourselves to the Philip- Now Delhi, Mar. 12. should not dis- foreign goods

will pine people and to prove to them officials ugalost

Covernment any

one

the new concept of mutual help. launch a nationwide campaign 500 20

We are out to give and give, not 800 20 10

15 to popularise on March fact that The very

the 107 XD Star Ferry..

Japanese rice growing techn-give and lake." Mr Nagano said.

The mission is made up of the Light (0) 9.30 07900 Japanese application was

2009.10 subject of a special examination, recurrent famines.

ques which could banish India's

three Diet members, one busi- Omce G. Light (N) 502 1

Foreign Electre XU 21.00 21.90 600 2120 he "Bulletin" says, is a “signi-

Bombay State experiments nessman, one 700.21.70 fennt commentary" on the

have shown that rice yields member, one official from the 10.10 500 st B

o! GATT, 200 10.10 Principles

which

nich jump from the normal 1,000 Ministry of Industry and Trade assumes that if all tariffs are pounds per acre average there kept at the same level on all im- to more than 3,500 pounds per ports, whatever their source, the acre with the use of long-

of complete equality successful Japanese methods. among all trading nations will be Food Ministry officials CS- timale that rice comprises slightly more than half of In- out- The wide gap between Japan dia'e annual food grains and some other countries seems pul. Rice imports from abroad to have brought home to some average 600,000 tons members the "obvious truth"

And

eat up about that the methods employed are Rupees in faulty.

each year.

Ewo

15.30

object 10 19.20 500 19

22 MISCELLANEOUS

Yangtze 6.83 5.90

The Rubber

Markets

Singapore, Mar. 12. Prices of rubber futures closed today as follows:- Number 1 rubber. per Ib.

Apill May June

Number

Number 2 rubber. April 3-p Number rubber, April 64-647

Spot rubber, unbaled Blanket crepe

rubber April 28-co

7252-2256 No. 1 pale crepe United Pros

#13-01 In Northumberland, Durham, | 21 some 290,600 faceworkers,

London, Mar. 12. Kent and parts of Lancashire against 288,500 a year ago. On

Prices of rubber futures stating: January 3 there were 290.000, closed as follows:- there are pit notices

This colliery has no against 287,000 A year. pre-

Yorkshire, viously. vacancies." yet in

• South Wales and the West Mid-

#cw

Production

Number rubber,

in pence per 16.

Improved last

Арг

May

June

Apri/June

lands men are being sought. week. It amounted to 4.61m. During the first six weeks of tons, compared with 4.56m. tons the year 8,182

entrants

in week earller and 4,56m. tons were enrolled, against 13,319 last year. It does not, however, last year. These included 3,403 approach the extra 150,000 tons juveniles, compared with 3,779 a week that Sir Hubert wants. in 1952. Overall wastage was The record number of 704 pits 7,040, against 5,630 a year ago. at work at the week-end pro-

Since January

when ducen 269,000 tons.

school leavers had pushed

tho Stocks in the week ended force up to 721,700, there has February 21 stood at 18.14m.

been

July/September.

Oclober/December

United Press.

World Conference Of Businessmen

attained.

"OBVIOUS TRUTH"

Annually 500,000,000 foreign exchange

Chief features of the "Differences, although not so

are use of noticeable, exist between

all Japanese method

less but better quality seed. trading countries," the "Bulletin"

a raised, nursery- Bowing In asserts, "but because the results like bed, transplanting of seed- are gradual, they are ignored. Engs In straight rows to

The sudden admission of

Japan

fertilising make weeling and undoubtedly calls for some

easier, and Improved fertiliser change in procedure, but in practices.-Associated Press. reality the process is going on the whole time and must even- tually bring about the realisation that the principle laid down is fundamentally wrong."

London Exstas Beroles)

Grain Prices

In Chicago

Chicago, Mar. 12. Prices of grain futures closed lotay as follows:-

Wheat-price-per bushel 1.2753 7.753%

Sprch

May

July

Now York, Mar. 12.

Beptember December Com Spot

~2.49

a drain of 1,000. At tons-a full of 200,000 tons 720,700 there are still 12,400 from the previous week and About 1,000 businessmen from March more men than a year ago, but 321,000 tons lean than a year 10 nations will attend the bien- May Interna-July on January 3 there were 21,000 | ago,

afal congress of tha

September more men than on January 5, Exports increased by 28,000 Tional Chamber of Commerce

December 1952.

tans to 200,000 tons, compared in Vienna, Austria, from May Пус

· DANGEROUS TRENDI with 224,000.ions in 1932, The 18 through May 28, the United Matth Lubour always Buctuates but weekly rate, will have to be Stales Council of the interna-May the trend is one to be watch- increased to achieve the 15m.onal organisation announced. |・・ Oats

So far as the really, im- tone target, for 1953, but the Theme of the meeting will be portant producers are concern-air quarter of the year is not "world trade ed, there were February the peak season,

ed.

on

LONDON TIN

MARKET

London, Mar. 12.

The tin market was quiet and steady today. Turnover was 30 fons, all for cash, Prices closed at the end of the official momn- Ing session as follows:-

Spot tin, buyers Spot tin, sellers Business done af Three-months in, buyer Three-months tin, weliers Business done at Battlement

and one adviser.

The group, which arrived here last Saturday from Tokyo, will proceed to Djakarta, Indonesia, on Saturday. Their itinerary includes Singapore, Bangkok, Indin, Rangoon and Hongkong. --Associated Press.

New British Products

New York, Mar. 12. Three new British products corks, Wrenches and razorr have been introduced on the American market.

From Kinkee-Bee Characters, London, come bottle corks hand-

pointed to famous

igures of the

From F.L.. Wraight and Co., Ltd., Halesowen, come wrenches

makers any which

self-adjusting and "And from Chil-

the

come new

Ding.

ton Electric Products

Co Berks, Hungerford, electric razors with five-in-one 055 cutting heads which slice off 956 your whiskers with a vibrating

cutter.-Associated Press.

United PreHS,

250

04

JAPANESE BONDS

London, Mar. 12, "Japanese bands, '20

Weekly Bank Statement

London, Mar, 12.

The Bank of Engined state- ment for the week ending March *11 reads as follow).

Notes in circulation... £1,481,014,871) Public deposita.... Private deposita Vaga Government securities Other securities..........ot Receipla 30%

Blank ratio United Frest,"

f.

B

-1.7723-1.763

(08.

March

May

| business."--Associated Press.

is everybody's New York four-per 200 lb. Back.

13.10 nominal,mUnited Freas.

of-1600) 81 of-1010) 71. of 1907).124% of;1024) 101 ****** (834%, 'ol, 1830). 144 Consols

40,231,713

382,771,639

378,099,430

31.037.007 *United Press.

Tel. Nos. 96066-9

Chinese Freight Booking Office ·

Tel. 20461

Dates and rotation subject to change without notice.

At liberty to proceed via other porte lo load/discharge cargo.

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight-refrigerator-passenger service to Korca, Japan, Philippines, Indo- Chine, Slam, Malaya, Rangoon, Calcatta and Chittagong,

"NOREVERETT”

Arrives Salls

Mar. 21 from Manila, Mar. 22

Singapore.

for Rangoon

"BRADEVERETT”.

Arrives Sails

Penang, Calcutta,

Yokohama.

Mor. 27 from Singapore,

for Mar, 28

& Kobo

(Accepting cargo for transhipment) Kobe/Pusau and Kobe/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

"THAI"

Arrives Mar. 30 from Japan. Sails

Mar. 31 for Singapore,

Port Swet- lenham, Madras, Colombo, Khor- Bombay, Karachi, romshahr, Bahrela.

"STAR ARCTURUS“

Arrives Apr. 4 from Singapore Sails

Basrah

&

Yokohama.

5 for Kube Apr. (Accepting cargo for transhipment) Kobe/Pusan 'Aud Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206, Chinese Department: Telephono 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