THE CHINA MAIL, WEDNESDAY, MARCH 18, 1953.
Marked Improvement Noted In France To Cat
Decline In Siam's Exports Of Rice
Bangkok, Mar. 17. Thailand exported only 184,000 tons of rice during the first two months of this the second lowest year
100
ly
Malayan Conditions:
Replanting Resuming
London, Mar. 17.
The general impression left after a three weeks' visit to up-country rubber estates in Malaya is of the marked improvement that has taken place in conditions in Malaya in recent months, says a Financial Times correspondent from Singapore,
Morale has improved so much that it might even be dangerous. Tired of carrying arms, travelling in armoured vehicles, and continually being escorted by special constables and military, some planters are now inclined to cast aside these necessary precautions,
While one can now travel along the main roads throughout the country in comparative safety, with no obvious signs except an occasional roadblock and food check, it is not yet possible to say the same about some of the subsidiary roads, where precautions against ambush attacks are still most necessary.
are
reduced
stems
risk
to
Decision
To Sell Gold Mine
Imports From Sterling Area
Parla, Mar. 17. The French Government la planning drástlo cuts In Imperia from the Sterling Area during the next six months, usually rejlable quarters said today.
M. Robert Baron, Minis- ter for Economic Affairs, is drafing an "jausterity" Im- port programme for the six-month period starting on April to try to rectify France's
unfavourable balance of payments post- tion, these sources said.
Main Imports from the Sterling Area expected to. be reduced under this new plan are industrial equip- rent
manufactured
goods, as well as, to a lesseT degree, wool, cotton, Jute, tin, rubber and often- ter.
BRITISH
Butler Mission
To U.S.
London, Mar. 16. It is part of Mr Butler's intent to give the impression that the Washington talks have not
been a brilliant success, says Mr Patrick Maitland M.P.
For he must tean over back- wards not to embarrass
n new Government which has still to learn how to resist interested pressure-from abroad Bs well as ut home.
That is why U. S. Secretary of Treasury Humphrey kept on reiterating beforehand that the talks were "exploratory", why Mr Butler did the mume and. above all, why the communique confirmed this view point.
In a
nutshell, the Common- wealth Plan which Mr Butler proposed was this; The United Slater should furnish a Stabili- sation Fund for those countries embarking
On controlled COFL- vertibility; the fund would be
TRADE WITH handled by the International
PORTUGAL
Londin, Mar. 17 In a survey of Portugal as a London, Mar. 17.
traditional market for Britain, The rectors of Mount Char- the Board of Trade Journal said Iotte (Kalgoorlle) Gold Mines today that Portugal's creditor Limited have decided to nego position in 1933 will be less tlate for the sale of its mine, extreme not only because of the Chairman, Mr Thomas | the new six-year plan but be- Kenny, told the Company's un-cause the prices of sone nual general meeting.
Import-export goods have fallen.
The article
specially written for the Journal by the Commercial Counsellor of the British Embassy in Lisbon.
Was
figure for the period since the cessation of activities of the International Emer- gency Food Council in 1949. The soirees sald that this was chilelly due to the suspen- sion of Government ollocations, They said that about 200,000 tons of rice, mostly broken rice į The strain that has been barne conditions on the estates them- from the 1951-52 crop, were ill by European planters for more selves. in Hangkok an that signs of than four years undoubtedly is One visiting agent recently told deterioration were beginning to slackening. Lower rubber prices me that he considered that ex- show.
have catised bonuses, and compenditure on the provision of Rice sources sald that low tulasions largely to disappear, but new accommodation had con- exports was the chler reason for this to some
extent ita oren ferro great beneilts Yanır! considerably decreased Govern- ffset by the less dangerous con-advantages which would be lo znent revenue and high officials,ditions and
of the long-term interest of estales. including the Finance Minister,
attack.
LOWER COSTS Borlphand Yudhukleb, This makes I possible for The draft of a new Employ- have expressed concern.
planters to devote more of their ment Ordinance, which will Despite the refusal of the attention to their duties of grow replace the existing Labour Code Ministry of Economic Affairs doing rubber and the consider requests for government- the estate,
welfare of | in the Federation, has been. ta-govemment rire allocations
published and the Bill is to have RUBBER PRICE
its first reading in the Federal by importing countries there has
The Malavan rubber-growing Legislative Council later this been no rush by merchants in euch countries to buy Thalland's resignet to a
Industry
month. "free" rice.
price range - of The Labour Code is outdated The sources sald that inerchants between 70 cents (Malayan) and and the new Bill seeks to in importing countries have in ne dollar a pound (approximate modernise it and being it up to estates date and in line with changed timated that the price demanded Ad to 22% Srl), and by Thai exporters is
"As announced at the previous brranging their programmes | conditions. high despite the decline Di past accordingly,
One result of the improvement annual general meeting, opera- months. Market resistance to "A" Last December-when the price in
conditions and in morale is lens on the mine have ceased, broken rice is expected to in-almost reached a dollar there becoming apparent. The greater due to adverse conditions for crease as it continues to deferior was genuine four among pro-supervision of estate work now the gold mining Industry in
hird its effect on Western Australia,” he said. afe in godowns due to long ducers lest the price go beyond possible bus
The article encouraged British storage. The sources said that the that figure with
exporters to expand their Portu- consequent costs of production and, although
Mr Kenny said: "The persist-guese business and said deteriorating rice has to undergo damage to the long-term interests these are still high, some estates ent
that a reconditioning process which is of the natural product,
have disclosed costs during the other costs is
Increase wages and the surplus which Portugal had expected to add to its east but it) It has been obvious on several past year lower than those of
not matched by accumulated in the European рам is unlikely to fetch a better pricecensions in the past that when 1951. There is, of course, no such the gold
any corresponding increase in Payments Unlon was an as- in view of the pour narkel- the price
price. A reasonable nurance of her ability to pay is approaching the thing as average costs, as con-uplift in the price of gold might for Imports. United Press.
lower limit additional buying ditions vary so much in different justify assumption of mining i interest is attracted,
districts that no accurate con-operations comparative
stability parison is possible.
It said: "Although boom con- has now ruled in the in-
property.
ditions cannot be expected, the An estate which recently issued dustry for a year has resulted accounts for
six-year plan should produce a the year to last
"It will .be noted in more settled
from the greater demand for goods
and conditions on September showed all-in costs Balance Sheet that the available services which estates.
Labour generally is at 76 cents a pound, excluding resources
provide amount happy and contented, although export duty and replanting ex- £12,000.
to just on opportunities for U.K. firms. These some so-called labour leaders penditure.
would not be
"In view
of the competition Another estate. adequate to Annnce Chicago, Mar. 17. think otherwise,
mining from supplies in other countries Chicago grains
largely composed of Wigh-yield-operations WAGE RATES
and were mixed
the Directors who are offering ing rubber. in accounts to De-have decided to
low prices, with other leading commodities. Wane rates were determined cember last showed coëls" under the sale of the mine," he said.
negotiate for quick delivery and easy terms Wheat closed to higher for a rubber price above 70 cents i 50 cents a pound.
of payment, it would be unwise and soybeans higher to a pound, but Begotiations are The lowest costs that have been
for UK. Arms to rely makily on The Chairman reported a loss goodwill earned in the past, on Jower. The evening-up of sunt proceeding to determine disclosed that I have seen are 40 during 1952 of £1,133, but said old-established connections March contract featured the rates when the price is between cents a pound and the highest 02 that during the year arrange-on traditional methods."—United soybean trade.
Prives closed 60 and 70 cents à pound. These cents a pound.
The high-cost ments were made for consider-Press. as follows:
be found to
inable economics in London and rabber and the cost of living, what have been "dangerous" Australia. The full effect
The wisdom of tying wages to areas where full tapping of old these economies would be seen
has been the prices of rubber
rubber trees hins not been in next year's accounts. by an international due to lack of tubout questioned labour expert now in Malayo. He and supervision, and the low-
He said the cash considers that this might well cost producers are those in more had been invested cause a situation "fraught with settled areas
and
Grain Prices
In Chicago
December
•
Wheat-price per bushel
Брок
Marchi
May
July
September
2,277% 2.20% 2.30-2.207, 2.31%- 2.342 23813
Corn
Spot
March
May
July
157
1.62
1.5012-2
September
December
1.620. 1.694
Kyr
March
1.73 nominal
May
2.77-1.774
4ints March
74-1
May
Jiates are tied to the price of produ
producers are
on
the
company's
ol
resources and the
will
or
Monetary Fund.
It would be created partly by a devaluation of the dollar in terms of gold, thus writing up the value of the gold hoards at Fort Knox.
Aswather part of the Plan is his: Each Member of the in- ternational Monetary Fund would
really nee
Increase its quota con- tribution in its own currency. to $8,737 milon. Of that amount Total
contributions now amount the United States provides $2.- 750 million. The United Kingdom contributes $1,300 million, India $400
Canada millon,
$300 Australia million.
$200 South Africa $100 million, Paki
million, tan $100 million, and Ceylon $15 million.
COULD MAKE LOANS
A proportional increase all-
reund
raise the American and Canadian dollar contribu tions.
The Fund, with stronger reserves, could then make loans to member countries undertaking convertibility. The loans would be on hand to meet any run on reserves.
At the same time, the special Stabilisation Fund would be available to enter the exchange to defend any currency under attack,
This is a plan which originated early last year in the private thinking of Ottawa and New York bunkers, who put the idea up to the British Government through the good offices of the Canadian Government,
The United States Government would scarcely go on record in Wour of Invour of so complex and con- troversial a project after only n few days exposition. So while Mr Butler has come away from Washington giving the im- remains be done, the most encouraging feature in the failure of the communique to record the plan at all. It may all emerge
NY Stock Exchange pression that much
New York, Mar, 17, In the stock market Bealings on estates investments, which included totalled 2,100,000
shares, Öf The workers them-which have been able get all some of the major scives were warned of this when
Industrial issues traded, 545 advanced, 519 the labour needed
those companies on and
Britain, in
were declined and 306 were un-
danger."
in 1951 they demanded increased with young high-yielding trees. readily marketable.-Reuter: changed.-United Press. wages on the grounds that the
price of rubber had Grea:ly advanced.
REPLANTING METHODS
Many estates ore now consider-
まなぽー
restarting replanting-pro-
or
three years ago by
Labour generally throughoul grammes which were interrupted Malaya is now more New York flour, per 2016. Sack but there are still extates, parti- shortage of labour and pro-
plentiful, two $13.15 nezainal United Press.
cularly in outlying or isolated hibitive costs. New methods of areas, which And diffleulty in alling their requirements. During planting are being considered-
hedge-planting, namely,
with secondary crops interplanted, mostly food
crops, which will disappear as the young rubber
Cotton Prices.
In New York
New York, Mar. 17. Cotton futures trading today went throughi another mono- tonously slow session. Prices
closed as follows:-
Spol
March
May
July
October
December
March
May
July
Spol
March
34.30 notuinal
33.79-33.75
33.74-33.75
13.71
223.774
33.70
23,415
-United PrYMER, NEW ORLEANS MARKET
May
July
October
December
March
Мау
July
33.25
33.75-33.70
33.13
31.07
73.71
33,70 bid
33.78 bid 33.40 DIA United Prem,
New York Sugar Futures
un-
the last two years estates have to improve living dine much
The Rubber
Markets
trees grow.
ins
Spectacular Rise In German Industrial Output
still.
Industrial
was
New York, Mar. 17.
Us
at a later date as an American Idea.-London Express Service,
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning amount-
ed to $94,870. Noon quotations and the morning's transactions:-
SHARES BUYERS BELLENA BALES
HKC Bank XD 1330
BANKS
Alla Nov...
SHIPPING
DOCKS, ETC.
N. P. WhorÍ Dock
Wheelock ...
10 1340
30 700
173
1.35
2000 1.375
0.33
18 710
HK Hotel XD 6.70 11K Land (0)
40 100 41
Shat Land 136 135.
Humphreys
►
LAND, ETC.
XO.... 471$
#211 UTILITIES
Tram XD 1080 20.10 200 10,00 Star Ferry
101
Mechanical methods are being employed on an increasing scale and fertilisers are being applied at the same time as cultivation West German industries boomed spectacularly is being done by tractors, Poison last year while most other countries in Western
of old rubber trees is now preferred to destruction by Europe had trouble equalling 1951 levels. felling and I have recently seen Singapore, Mar. 27.
Britain's Industrial output fell off slightly areas up to 500 acres which had Rubber prices improved by been destroyed by poison, d from 1951 but finished strong after a slump in theNSURANCES about 3/8 cut per pound, with method
much cheaper then first part of the year. first grade for April shipment felling. closing at 71-3/8 centy per All replanting is being carried Britain 1s
und after having fallen to 71 out with proved high-yielding largest
Europe's procurement programme for the cents per pound at one stage of stock, some buddings and some Her total last year was 99,374.- most of the orders are still to producer. year ended June, 1952, but trading
from selected seed. There is s still 000,000-$201,000,000 less than be felt fully. Opening at about the same considerable difference of opinion in 1951.
the previous day's among planters
Western Europe's agricultural price
themselves as clusing levels, quotations fluc- to which is the botter material. is still a poor second to Britain, during the post-war years,
The West German Republii production has risen steadily inated mildly and at noon were
The The decision whether to use Its 1952 output 5/8 cent per pound above Men-buddings or seedlings ls, how-000,000-$430,000,000 more than estimates total farm
$0,593, Mutual Security Agency day's prices,
output in ever, sometimes dictated by the in 1951.
the Small business was reported material available as there are
six key Western European The French, however, with a countries at 115 per cent of pre- during the day with the market apparently Insufficient buddings traditional fear
C. Light (0) D.10 09 of German war for the 1052-83 crop year at one stage irregular but it and seedlings available for this militarism, point to Germany' In 1046 It was only 85 per cent. steadied at the close after being replanting season,
Industrial pace during the last Because of substantial popula well below the previous day's STRÒNG OPPOSITION five years.
tion increases, due in part to in- levels,
industry has to some ex- Last November, Latest for flux of refugees, MSA reports of food fallout rea
pre-war lovels
PRICE MOVEMENTS Price movements in Wester Europe reflect changes in the general economic situation. particularly in Industrial produc tion.
The slowing of production that
entry begon late in 1951 was followed first by a halt in the rise of wholesale prices, then by
Press.
LONDON MARKET
London, Mar. 17, The rubber market was un-
The
producers in The French industrial Index
unul 1951-52.
A fair amount of switching of tent been cheared by the prospect which totals are available, West per capita production New York, Mar. 17. World sugar futures closed positions was reported.-United of a higher consumpiler of Germany's output was 183 per natural rubber this year. It has cent greater than in 1948. For today 3 points lower to 2 higher with sales totalling 94 contracts.
not been cheered by suggestions the same month, Brlilsh pro- Contract No. 0
of a buffer closed
stock to stabiliseduction was only. 25 per cent changed to 3 points higher with
and prices supplies, although greater than 1048. certain today. Prices closed there are some sales totalling 349 contracts.
Prices closed as follows:→→→
Malaya who favour such Afor November was only. 30 per Contract No. 4 (world)
knowing its cent higher than in 1948. The scheme, 3.27
ii) { terms and conditions.
same yardstick showed Belgium 2116-6 Market interests in Malaya are with a 20 per cent increase.
strongly opposed to any such the Netherlands with 38
with 50 plan, which they say will result cent and Italy 211%-15 only in interference with the ceni.
market and stimulate the con-
July...
October
July/September October/December
2172-95
as follows:- Number 1 rubber, per lb.
ur pence.
215-44%
May
April
Geptember
3.24 bid 3.23
May
June
April/June
January
1.50 nominal
March
3.29 nominal
May Ispot
Contract No. G
May
July
Beplember
March
November
Spot
3.99
6.65 nominat
B.55
United Press.
-United Press.
LONDON TIN
MARKET
חודי
without
sumption of synthetic material.
enerally,
BIG
The big
Use Financial
factors confidence
say the correspondent,
the future of
per
Der
is still expressed in Singapore in Industry and other mota
efforts
natural
to
Ticlency and reduce machinery
provided London, Mar, 17.
costs are
a slow decline.
C. LRHL_(N) GJ5 Electric XD 20.00
INDUSTRIALS Cement XD STORES, ETC.
Dairy COTTONS
Two
2007 9.00 100 #21
10 200 ** 15.30
13
10.00 10
211
British Exhibits At Dutch Fair
Utrecht, Mar. 17. Britain has the second largest of foreign countries in the 40th Netherlands Industries it is the first time for several Fair which opened here today.
years that she has had an official sland.
FACTORS ·
As industrial activity picked in heavy up late last year, wholemle are sicel. coal, prices frmed in most countries,
Britain has 470 of the 4,127 In France, where runaway in-
exhibitors, while West Germany All elther constitute | Ration threatened products.
a year ago,
with 1,020 heads the list of 20 the tools for war or have a wholemie prices late last year foreign countries which have The Un market was barely at minxod, and research into viini effect upon their
manu- were back to the level of April. | entered the Fair-Reuter, JAPANESE BONDS steady today. Turnover was 55 not
-faclure.
1981. German wholesale prices Lac 15 tons, nothing for cash. Prices now.
Westem Europe's production | continued. stable throughout closed at the end of the gulcini planters certainzulind, Whit
will
gel and employmenf-two essentials) 1932.
aquahout Exchange Rates big bonused, or morning session as follows-
commissions,
health were economic
Cost of Living Indicos, which workers cannot get higher wages, bolstered by American orders always lag in the econvenie and shareholders will not get for $603,000,000 in
and procession, continued to drift repolition of last year's dividends, other military equipment to be slowly upward during the year, evertheless, af press prices turned out by the countries though MAA reports the rise was 4-941 reasonable profis should be themselves. These orders were small. in most cases,--Associated
possible,
I placed under the UB. offshore | Press, s
London, Mar. 17.
940
Japanese, bonds,
"A". (45.
of 1899)
Spot it, yoru *****
"B" (45.
of 1010)
001
Spot tin, sellers ....... D50 Business done at
all
"
(53.
of 1907)
Three months tin, buyers 941
of 1024)
Three-months
tin seller DIZ
141
Busnew done at Settlement
-Unlled Press.
ימיי
"E" (45. of 1930)
10
arms
market
'Business) was dans in the local unofficial exchango
this moming at the following-qates>... UB. dollar wer (3) 3-kin Biesting note (per £1) Trackowieste gallides (per 100). Rimenticate for 100) Bingapore (Btraits) FIC piastrej (per 100)
MESSAGERIES
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M
MARITIMES
M
PASSENGERS/FREIGHT SERVICE
"FELIX" ROUSSEL”
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T+
20 tar, Hongkong
Far Manila
**
22 Apr.
Die Marseliles
23 May
VIA Salgun
via Marseilles to all Mediter conean & West Africo ports, via Djibouti to Madagascar.
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7 Apr
1
Wongkong
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30 MAY
June
+ Salgon, Marsellies, Aiglers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk CIE DES MESSAGERIES MARITIMES P.O. Box 53, Hongkong Queen's Building (Gr. Floor)
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Tel. Nos, 80066-9
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LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong,
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Mar. 23 from Manila. Mar. 24 for Singapore, Penang. Rangoon & Calcutta.
•
"BRADEVERETT”
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Mar. 25 from Singapore.
· Mar, 25 for Kobe &
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Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports,
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Mar. 31 for Singapore, Port Swet- tenham, Madras, Colombo, Bombay, Karachi, Khor- ramshahr, Basrah Bahrein,
from Singapore
&
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Arrives Apt. 4 Sails
Apr. 5
(Accepting cargo for transhipment) Hoba/Pusan and Kobe/OkinaWB)
for Kobe c Yokohama.
..
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BUSINESS REGULATION ORDINANCE 1952
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