1953-04-01 — Page 9

Page

MAERSK LINE

FAST FORTNIGHTLY SERVICE' TO:

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA viz SAN FRANCISCO,, LOS ANGELES AND PANAMA.

PANNA MAERSK” *m. V.

m.v. "LEXA MAERSK" m.v. "PETER MAERSK"

NEXT SAILINGS

Apr.

Apr.

May

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

m.v. "LEINE MAERSK"

"SEPPESEN MAERSK”

m.v. "ONETE MAENSK"

..

Apr.. Apr.

Apr.

For Freight and Further Particulars please apply to:-.

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos, 36066-9

Chinese Freight Booking Office

27, Connaught Road, C.

Tel. 20161

Dates and rotation subject to change without notice.

At liberty to procred via other porte to load/discharge cargo.

PENINSULAR

EPARABIT

THE CHINA MAIL, WEDNESDAY, APRIL 1, 1953.

Empire Development Finance

Record Taiwan

Exports

Talpel, Mar. 21.

Sugar exports frotn Formosa will hit a teostd high in April when 172,600 sons

will be shipped

abroad.

This compares with the previous manihly high of 110,000 tons exported la March 1951.

Of the April total, 80,000 Lona will go to Japan, 73,600 to Britain and 19,000 lons to the United States.

The surar shipped to the United States will be bar- tered for fertiliser-B¢u« ier.

PLASTIC BODIES

FOR CARS?

Detroit, Mar. 31, The car industry will find out this year how much of a market & ORIENTAL there may be for sports model

cars with plastic bodles.

Chevrolet has announced de- Bnitely it will build 300 such

STEAM NAVIGATION CO.

R.M.S. "CARTHAGE”

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

•

SUNDAY the 6th April at 12.00 noon (Hongkong Summer Time) for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

Passengers are requested to send ALL baggage to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 Gate, CANTON ROAD ENTRANCE, by NOON on Saturday, 4th April, 1953.

SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading board by ship's slings only. BAGGAGE COOLIES WILL BE REFUSED ADMITTANCE TO THE WHARF.

on

EMBARKATION: Passengers should embark between 9.30 and 11.00 a.m. on SUNDAY, the 5th April, 1953.

Italy

The New

To

Menace

British Textiles

(By Yorke Henderson)

London, Mar, 31.

tari this year; Kaiser-Frazer

A

Company Given

Cordial Reception

London, Mar. 31.

An important change has taken place in the public attitude towards the idea of a private company to finance economic development in the Commonwealth.

Three months ago, when it was first mentioned by the Common- wealth Economic Conference, it was felt that the need was for men, money and machines, not more organisations.

The Commonwealth Development Finance Company has now been formed. Doubts remain; but now that more is known of its aims, and the method by which it proposes to achieve them, the venture has been given a more cordial welcome.

fs

The new Company will start International Bank, which business with an authorised willing to co-operate. capital of £16,000,000, of Through such understanding. which £6,750,000 is being sub it has been suggested, the Com- scribed by the Bank of England, pary might smooth some of the and the remainder by a group constitutional difficulties which of Important British business Imit the work of the World Bank Interests, including industrial, in the Dominions und the commercial, mining, shipping Colonies. and financial companies.

markets.

Effects

Shaken Off

Upset Caused By

Once a firm relationship hús Only 10 per cent of the been established with the World authorised capital is being called Bank, it should not be dimcult up for the present, and the Com-for the Company to extend its 10 foreign capital any will have power to borrow activities up to £20 million.

Korean War The sum

involved is small in

And the fact that it has the proportion to the amount of

Washington, Mar. 31. needed

backing of world-famous British for Common- capital

business concerns, as well as the The U.S. Federal Reserve wealth development, plans an even larger number.

But the nims and composition support of the British Govern- Board reports that gold and The "test run" to be conducted

should ment, should have an important dollar movements in the last of the now Company manufacturers these by

foreign that, though the quantity psychological effect on ensure determine what doubtedly will

most free several

may be modest, the quality of iis investors, who have thus far year indicate operations will be high.

shown no great Interest in Com-world nations have shaken do about plastic body automo-

These operations will be con-monwealth development schemes, off effects of the economic bites.

Several top

ducted along sound business lines.

upset caused by the Korean producers car have been experimenting for There is no question of financing Ill-conceived schemes of the years with plastic bodies. How-now-famous "groundnuts" type.

war, ever, none of them is prepared to say what price tags will have to be put on the cars that so far have been purely experimen- tel.

un-

other car makers will

will be bullt next year.

Of course the project could be dropped even before the 1954 model season if retail demand doesn't measure up to expecta- tions.

o!

Commonwealth

be

DIECTORS' HOPE

the Company should command in In fact, it, is the prestige that international nancial circles that has captured the imagination of British public opinion.

As the Financial Times com- ments: *The directors of the

that

billion

The Board said foreign countries had about $1,200,000- NO PUBLIO MONEY

000 more in gold and dollars at Nor will public money, be

the end

the of 1952 thin at Involved. Rather, the Company

beginning of the year.

During the year, it said, the There may

may not be will seek to encourage private

United Kingdom and the Ster- that capital to participate in schemes Commonwealth Finance Companying Area as a whole, despite significance in the fact

that fulfil Chevrolet, the world's largest car

fundamental condi-

hope that, in time, the knowledge improvement in the last half of that a small amount of capital maker, has decided to feel out Lions of commerelai soundness.

financing

dollars of its gold and the retail market for a plastic. It will also engage directly in is being provided by themselves the year, lost about half body car. Chevrolet's announce-

approved

will confer on an investment pro- dollar reserves. ment said that while 300 of the projects.

fect the same kind of status in The Company's interest in the world's capital markets as

Western European continental plastic models are planned for

countries, on the other hand. of a built up given by the name

of this year an even greater number development schemes will depend

their reserves upon the fulfilment of three London acceptance house to a

dollars and gold by $1,200,000,- basic conditions:

bill

reserve net build- 000. Other scheme must (1) The

10 atrengthen the

reported in Canada, "It is by this means

ups were designed

Latin America, and Asta skill can be Sterling Arca's balance of pay- London financial

The Federal Reserve report ments position. This is in line widely and fruitfully spread over

was based

gold and on toin! with the polley inid down by a great variety of resources." dollar

Prime

not transactions,

just the

U.S. A The doubts that remain about transactions with the Ministers last December and now

from the U.S. Depart- adopted by the British Capital the usefulness of the new Com-report

pany are chiefly related to the ment of Commerce three days Issues Committee.

of setting aside ago on balance of payments (2) Applications will be ac-dimculties

firms and resources, from, internal savings with the U.S. alone said foreign of countries gained $182,000,000 in authorities. Before the as well as from balance cepted from private public-

funds into payments surpluses, for invest- gold, and dollars during the Company will sink

year in such transactions. The a proposed venture, however, it ment in the Commonwealth.

the Commerco must be shown that the necessary These problems are certainly Sterling Arca,

gained is not available from not minimised by the formation Department reported,

1952 $431,000,000 in "normal" sources-eg. of the Company, but it is clear some

In- local capital markets. Applicants that much valuable work remains transactions with the U.S.. must, moreover, be willing to for it to de-London Express cluding

The Federal Reservo report put up some ot the money Service.

that indicated, therefore, themselves.

Hie British pald

elsewhere out about twice as much in dollar and gold transactions as they gained with the US in 1052:

The Reserve Board sald the United States at the end of 1952 heid gold valued at $23,300,000,- 000. Gold purchases here by

It is fairly well understood throughout car circies that a car with a plastic body, cannot be assembled as quicidy as can the standard steel body type. The plastic that goes into the type of sports cars shown at the various car shows during the last few months requires a lot of costly handling, shaping, treating and reinforcing. Associated Press,

Spanish Production Of Steel

finance more

(3) The

proposed schemo

HONGKONG

Ja

..

com-

SHARE MARKET

(From Our Correspondent)

on the Stock Business done Exchange this morning amount-

foreign countries since then have brought the total down to

$2,600,000,000 at

at present.

The Federal Reserve sald general improvements of gold und dollar reserves abroad re- nation in many countries, plus flected measures taken against ed to $625,035.40. Noon quota-proving production, as well restrictions tions and the morning's

transghtening of

against dollar imparts. The sactions:-

improvements, it added, have plans for making currencies convertible (freely exchangeable for other curLTCA- ales) and loosening trade re- strictions.

must hold out definite promise of being remunerative. Appli cants will have to satisfy the Company that the scheme soundly conceived and that ex- pert

has management

been Aviles, Spain, Mar. 31. Spanish steel production is ex-provided. pected to surpass 1,500,000 tons

BY OTHER STANDARDS annually by 1058, according to

of estimates

the National The real value of the new Industrihi Institute.

Company cannot be judged by Spain's current annual produc- its ability to provide funds from tion la estimated at 800,000 tons. its own resources. This must

sald this

necessarily be small in Government officials Agure would be increased to parison with the total need.

within the next 1,300,000 tons

Its value must be judged by with completion of other standards

example, for two years

and the quality of modernisation

of its directors and plant expansion at present under the strength of the links they are

ne between able to forge

Common- To this figure must be added wealth borrowers

ers and interna❤ the 350,000 tons of steel to be tional Investment organisations, INSURANCES

by the new both public and private. produced annunily

The Board of Directors Aviles plant. Plang call for this plant to be producing by 1958-7. certainly able to bring a vast now £10,000,000 plant amount of experience to bear on non - Sterling will be built by the British the problems of Commonwealth

The bid development. engineering industry. represents the biggest and most

its chairman is Sir Frederick Now Italy,

that single Important

order

that Godber, head of Shell Petroleum, boosting her extensive rayon In-British industry has received "Shell" Transport und Trading. dustry since the end of the war, since before the war.

and United-British Ollfelds of

Japan may have to yield pride of place as the number one bogey of British textile manufac- surers. The new menace is Italy.

And already British rayon exporters are scaring themselves with speculations about the possible results of an unrestricted flow of Italian rayon goods into world markets.

Cotton manufacturers in Eng-1 their hans land have made plain their imports, concern about the prospect

of competing with low-price Japanese ection. plece goods if

Britain Colonial markets raise

on

which has been

Large-scale

way.

is

The Rubber prices with a view of capturing arms. The remaining 24,000, of Robert Fleming and Company.

Markets

Singapore, Mar. 31.

today as follows;-

April

May

markets, particularly

in East

Africa and the West Indien.

a

in East Africa, British rayon supervision of British contrac-

do

handsome tors.-United Press. exporters businese with what the trade known as "two-way stub rayon",

Prices of rubber futures closed a baste material much in demand. New York Sugar

Number 1 rubber, per .

Junio

Number

rubber. April

69-603, 003- 601-4 08-67

0115-03

especially in Uganda.

Futures

England; Sir

uve Chairman of Anglo American

is offering the same sort of Under agreement terms a total Trinidad. threat to Britain's rayon men. of £0,000,000 worth of orders

The Directors include, Mr British Similarly. Italy a slashing will be placed with

R. E. Fleming, managing director

out to formed be 000 will

director of and a Spanish

the bankers, firms under

Barclays Bank; Sir Geoffrey Hayworth, chairman of Unilever; Mr H. C. B. Mynors, an exccu- director of the Bank of

Sir Ernest

Corporation of South Africa and The British rayon industry

mining com- ; other important makes a wide range of materials,

panies; Sir Edward Peacock, a but the head of one of the main

New York, Mar. 31.

of Baring exporting concerns rayon

closed managing director In World sugar futures London admitted that, quality today to points lower with Brothers, bankers, and a director of the Canadian Pacife Railway: for quality, the Italians seem males of 113 contracts. 11-05 ablo

undercut British prices. Contract No. B closed un-Sir Robert Sinclair, chairman of changes to 4 points lower with and a director of the Finance the Imperial Tobacco Company SALES TO RUSSIA

sales totalling 77 contracts.

The weakness in the outside Corporation for ladustry (an Prospective customers in East The rubber markat was Africa and the West Indies are urme drop in eccurities and the relation to British

commodity markets, plus the organisation which fulals,

Industry, a that now offered Itellan dress dullness in the raw market, similar purpose to

at 28 3d and 23 ed a fumished a combination attract undertaken, in relation to Com 2012-21 2013-31 For the same sort of material ing scattered liquidation in both monwealth development, by the

contracts. British manufacturers cannot go Prices closed as follows:- 20K-T

below about 3a a yard and stay 2017-4|in 1 business. United FrOK.

Number 3 rubber, April ..

Number, 4 rubber, Apri

Spot, rubber, undaled

Blanket arepe

No. 1 pale crepe

69-10

פו-דין

--United Presa,

· LONDON MARKET

London,. Mar. 31.

irregular today. Prices closed being

as follow Number 1 rubber, in pence

por b..

May

Jung

July/Beptember

October/December

January/March

fabricz yard.

Contract No. 4 (world)

1.13 bid

bla 3.14 bid

May July And the fears of British rayon September men are in no way allayed by October

to sell March

JAPANESE BONDS or reaching City quarters January

Jan London, Mør, 31.

Japanese bonde

HERREAN, DE 1901 **** 100% of 1024)

that

the.

May

3.19 nomina): 9,40 kominkal

539 nomina)

bag bla

Italy managed £1,000,000 worth of rayon fabrics Spot (f.6.b. Cuba) 3.13

Contract No. and yarns to Russia during

"May. July Another country making pro- Beptember samo feld in November

March

pot (0.1.£. New York,

first 10 months in 1952.

2014 gress In the

DOYL

141 Czechoslovakia which is offering

leven Italy keen competition.

in

C. D. F. C.); and Mr 1. A. R. Stedeford, chairman of the Tube Investment and a director of the National Provincial Bank.

FIRST TASK

It is clear that the Board has not only men of proved ability but also the necessary, prestige to attract foreign Investment in Commonwealth. devolop ment schemesky

Led Preis.

[att

I first task-will be to reach

understanding with

the

784

1.40

BHARES BUYERS BELLENS SALES spurred

DANKS

East Asta... 143

Union SHIPPING

Asia Nav.... DOCKS, ETC.

K. Wharf... 7014 N. PL Wharf B.10 Dock ...... 18.30 Provident, 1140 1111⁄2 2500 e 131

250 to 11.40 4000 h 11 Wheelock *7.45 4100 7.00 LAND, ETC.

HK Hotel

7.35 7.40 1300 140

• Land (0) 63 57 100 49 BB S'hai Land.. 11 1.00 Humphreys 13.35 UTILITIES

Tram..... 213% Blar Ferry 102

Light (0) DOO

C. Light (N)G

.... 22.80

Electric

30031.40 250 of 102

9.55 9.00

200. $3 -0.55 100 ** 0.45

400 22.00

2006 22.4G

500 22.00 17.00 17.20 1000 17.40

Telephone INDUSTRIALS

Cement

14.00 STORES, ETC.

Dalry

......... 20.20

MESSAGERIES

Outwards

M

MARITIMES

M

PASSENGERS/FREIGHT SERVICE

"FELLI BOUSSEL”

Leaves Marittlen Hongkong

anilad

"LA MARSEILLAISE" 12 Ape.

Hongkong 1

Komawarda "FELLE ROUSSEL” "LA MARSEILLAISE” 23 May

10 Apr.

19 Apr.

1

10 May

· Marsellies

20 MAY

15 June

For Stanila Vakotinsan

Vis Ralgon Nalgon

yle Marseilles to all Mediter runean & West Africa ports, via Djibouti to Madagascar,

Outwards "MEINAM" "MONKAY"

Homewards "COURSEULLES”

"MEINAM" "PEL-NIO"

"MONKAY"

...

FREIGHT SERVICE

Hongkong

5 Apr.

27 May

For Japan Japan

For

LWAY RO

·Dunkirk-sailed „Antwerp- Apri

Leaves

Salled

· Kerlung-23 Apr.

............Keasung-22 June

flongkong

2 Apr.

20 Apr.

30 MAY

24 June

+ Salgen, Marsellies, Algiers, Oran, Tangiers, Casablanco, Le Havre, Antwerp, Rotterdam & Dunkirk CIE DES MESSAGERIES MARITIMES P.O. Box 59, Hongkong Queen's Building (Gr. Floor) Tol. 26651 (8 lines).

EVERETT

E

LINES

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

"LENEVERETT”

Arrives Salla

Apr. 7 from Manila, Apr. for

"REBEVERETT”

Arrives Salle

Penang.

Singapore, Rangoon & Calcutto.

Apr. 23 from Singapore,

Apr. 24 for Kobe & Yokohama. (Accepting cargo for transhipment) Kabe/Purin and Kɔbe/Okinawa)

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger service to Koren, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.

"THAF

Arrives

Sails

Apr. 2 from Japan.

2

Apr, 3 for Singapore,

Fort Swet-

tenbam, Madros, Colombo,

.Khor- Bombay, Katachi, ramshahr, Basrah & Bahrein,

"STAR ARCTURUS”

Arrives Sails

LAO

Arrives Sails

Apr. 5 from Singapore Apr. 6 for Kobe &

Apr. 9 from Japan,

Yokohama.

Apr. 10 for Singapore, Port Swet- tenham, Madras, Colombo, Khor- Bombay, Karachi, ramshahr, Basrah & Bahrein,

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

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephono 31206, Chinese Department: Telephone 28293.

The Hongkong & Yaumati Forry Co., Ltd.

FERRY SERVICE TO OUTLYING DISTRICTS (In force on and after the 1st April, 1953.).

CHEUNG CHAU FERRY SERVICE Leaving HONGKONG for Leaving CHEUNG CHAU for

(Direct)

CHEUNG CHAU 6.20 a.m. 0.55

HONGKONG

4.00a.m. 6.45 nm,

1.80 p.m.

(To- Aberdeen)

(Via B. M. B,

& Ping Chau)

(Direct) (Direct)

Via

Via S. M. B. & Ping

Ping Chau) (Direct)

Via

(..)

9.00

-(Via Ping Chau

7,45

& S. M. B.)

• 10.20

10.00

(Direct) ・・

11.00

11.00

(Via Ping. Chou

& S. M. B.)

11.16

§ 11.30

(Direct)

1.10 p.m.

its

1.30

Via Ping Chau

1.45

& S. M. B.)

§3.00

4,20

(Direct)

4.30

4,30

4.45

& Ping Chau)

** 5,00

(Direct)

+1

0.15

"As 1952 ended," the Federal Reserve Board. sald monthly bulletin, "most coun- tries of the free world were ex-

levels high periencing

of expnomie activity without marked inflationary pressure."- Associated Press,

Grain Prices

In Chicago

Chicago, Mar. 31. Prices of grala futures closed today as follows:-

Wheat-price per bushel

1100 27.70

+

2.30

Ar

150 20,10 Spot May July 20.30 Wation CoTTONS 21% 21.70 2300 21.09 December

EWO MISCELLANEOUS

Yangtern

September Corn

Brot

May

July

September

December

Byo

LONDON TIN

May

July

Only

July

Now York

May MARKET ⠀⠀

London, Mar, 31. The ́tin · market... was very weak today. Turnover was 170. tons, including 35 tons for enah. Prices closed at the end of the offlelal morning session fallows

'10

Spot Un, buyers Spot Un, or Business done at t Threw months in, buyi Three months tin;, wollers Business' done at

tuleuvent

929-010

05

2.3415

(Via Ping Chau

9. M. B.)

(Via Aberdeen) |↑ 6.30 (Direct)

0.45

5. M. B. & Fing Chau) (Direct)

21

:

(via 5. M. B

SILVERMINE BAY FERRY SERVICE

Leaving HONGKONG for

SILVERMINE BAY 8,150.m. — (Direct) 0.00 9.10

#1

| Leaving SILVERMINE BAYK for

4.30

HONGKONG

7.15 am.

(Via Ping Chau) (Direct)

11.30

11,00

(Via Ping Chau)

2.00 pm.

1.30 p.m.

(Via Ping Chou) *

5.00

3,20 .4.80

(Direct)

5.15

0.40

(Via Ping Chau)

(Via Ping Chau) (Direct)

mục Via Phong Chan)

(Via Ping Chau)

(Direct)

(Via Ping Chau)

(Via Choung

Chau)

SUNDAYS & PUBLIC HOLIDAYS ONLY.

From Wilmer

*• From

St. Ferry Pier. (Bandays excepted)

Wilmer St. Ferry Pler.

PING CHAU FERRY SERVICE

Leaving HONGKONG for

11,00

PING CHAU

9,00a.m.

1.30 p.m.

4.30.

Leaving PING CHAU for HONGKONG 7.35 0.

11,50.

2.20 p.m.

4.35

#

TAI O - CASTLE PEAK FERRY SERVICE Leaving-¡LONGKONG

Hongkong

200 tb, Back Kap Sul Mun

Chitto Pesk

four-per #13.10 nominal--United Press.

Exchange Rates

Business was done in the locat unometal exchange market this morning at the following rates La dollar (por 31)

Bierling note (per-41) Indonesian gulidern. · (pkr, 100)

135-82514 | Blum Ucale (per4100) | United Press. [FIC" plastrós- (per 100)

Tung Chung

Leaving TAI Oʻ

2.00 pm. Tal O

7.00 am.

3,00

tị Tung Chung

9.00

3.45

#

Castio Peak

8.45.

4.80

Kop Sul Mun

0.10

5.40

Arriving Hongkong. 10.30

SPECIAL FERRY (VIA ABERDEEN),

Arrlying Toi O

TAI O-

pet (From Wilmer: 61, Ferry, Pier) -

HPT Leaving TAI O for Leaving HONGKONG

for TAI O

4,00, p.m. 17 HONGKONG.. SUNDAY EXCURSION — Direct to TAI O

| Leaving Hongkong" 8.00 min.) Leaving Tai O W

4.00 am,

5.00 pm (Calling" at "Tung Chung)