1953-04-16 — Page 91

MARITIMES

M

PASSENGERS/FREIGHT SERVICE

"FELIX ROUSSEL”

"LA MAKSEILLAISE"

XXWWAY &

Leaves Marsellias

stiled

klaughong

1- Apr.

17 Apr. Hongkong

-10-12 May

For Manila Yokohama)

"Due Marnation Vis

19 Apt,

Baigon Halgon

"FELIX ROUSSEL” ... "LA MARSEILLAISE” 12-23 May

AVEN DE

13 Jub

vin Marseilles to all Mediterroncin & West Africa porta. via Djibouti to Madagascar.

Outwarda *MONKAY"

T!omewards

The United Kingdom's "gross national pro- duct" increased from £12,537m. In 1951 to £13,648m. in 1952, or by nearly 9 per cent., ac- EINAM" cording to the annual estimates of the national income, published as a White Paper.

The items comprised in this gross total include expenditure for personal consumption, fixed capi tal formation and income derived from exports and other oversea transactions, and all of these are estimated to have been higher in 1952 than in 1951. London, Apr. 15.

It is emphasized in officina The future of the British cot-quarters, however, that these ton industry lies with fewer increases, which are EXDOLLY but better machines more econo contrary to movements

the mically worked and with a more shown in the Economie Survey deliberate selling polley in place for 1953, are more apparent than

sales of catch - as - catch - con

reni. methods,

10

All the estimates appearing

in the White Paper on national income are made at current prices, or money terms, while Agures in the

Economic Survey had been re- valued at constant prices and were therefore in real terms.

The share of the national product taken by wages and salaries increased by £545m. in 1952 or by 1 per cent from £7,790m. In 1951 to £8,336m. in 1952,

Between

1950 and increase was £000m. per cent.

This view was expressed by Sir Raymond Street, chairman of Lord Mancroft replied that the British Cotton Board, in an while the Government shared article on the past achievements e of the his views as to the potential and future prospects of Lan- importance of the Chinese mor-cashire's cotton industry. kei to British trade and com- Writing in a special issue of meree, they were obliged, In the

Guardian Manchester necordance with the United commemorate the hundredth an- Nations resolution of May

of the raising of Man- 1951, to take all possible steps

teps chrissy of the rear the British to prevent the export to China cotton industry-to the situs of of any goods which would be

a City, Sir Raymond admitted of military and strategic im-

that his prescription for the in- portance to the Chinese forces dustry was not everywhere ac- in Korea

The Government have kept cepted in Lancashire. strictly resolution and is published cinbargo list to constantly under review, The Government

will be prepared consider, in consultation with other nations, the addition or deletion of any Item if strategic considerations warrant such action."

to the

of

10

terms of the

Trade

assist

He was convinced, however, that

modern plant

and better selling methods were the keys to prosperity and stable em ployment, and he had conelder- able confidence in Lancashire's to develop on these lines. we are well organise," h went on. "No industry is better placed in that regard or from the standpoint of

he

1051 the or 1111⁄2

MAIN FACTOR IN FALL The

The gross trading profits of companies (including provision for depreciation) fell by £170m. or 7 per cent, between 1931 and 1952-the first decline since the end of the war,

The main factor in the fall was the reduction of stock up- preciation from £900m. in 1051

Tokyo, Apr. 15. The Ministry of Trade and

Lord Elibank asked if Immediate plans call for build-Industry, concerned at the re- ing up

up the merchant deet to newed decline in cotton-textle Government would be prepared 4,000,000 tons by 1957 by which shipments, is preparing to sur- to take steps to set up a com- twe Line Japanese

ships will

vey conditions within

in-mittee clther the dustry with view to shaping Board carrying 50 per cent of

new polley of ensuring ade- Lkences goods.

quate supplies, of raw cotton and reducing prices.

The chief of the Ministry's Textile Bureau stated that, with the cost of

cation Glanding at 50,000 yen (£67 cost of 10s) per bale, and the processing at about 15,000 yen per bale, the wholesale price should be 73,000 yen. In fact, however, 10,000 yen. prices have recently been about

theplaced in that lations he to an estimate of nil in 1952.

tween the different interests in- the volved. Manchester may not be Export 50

50 predominantly Coltonom its as it was, but my grandson, Department in very difficult task, or con- in 1951, will find in the 21st stitule an appeal court for Century that dextiles, even it British Industry which felt it not always made of the natural a main was not getting satisfaction un-cotton fibre, will still be a der the export licences scheme.prop to the city's economy.

"LESS SCRUPULOUS"

About half a million tons of new Japanese shipping were added last year and a similar tonnage will be built this year,

to the according

reported Japanese plans.

to

The Times said the lack of fast freighters so far hus affected the Japanese services on all runs

especially

Europe, And

Tho Australia and New York. Times summed up: "The coming uld for a better share in these the first sounds like services

attempt Japanese shipowners to their flag back on world routes," United PreES,

determined

raw

Lord Mancroft did not reply but Lord Stansgate asked if it was not a fact that an order for chemicals, worth a very

offered prevailing large sum, was

Lo the British chemical industry, that the industry was forbidden to rend the goods abroad by the Board of Trade, and that it was taken up by a German firm.

aware

Mr Tokunaga added: "It should be emphasised that, so as any plan developed by the Ministry is concerned, price

of

the

get

far

QUIET DAY IN COTTON MARKET

to

is a secondary consideration. Lord Monerofi-I_am_ Our primary objective is to of the case in point. The Red secure steady and adequate sup-Cross may not operate in China plies of raw cotton. To the ex- and are not in a position tent that prices affect the at-send supplies. A limited quan- tainment of that objective the tity is allowed to be sent factor will be considered."

normal commercial Turning to future prospects, channels for essential civilian Mr Tokunaga sald he consider purposes. I think many

other ed that a proper and reasonable countries do not carry out their export target for Japan's cot part of the bargain with 'he rame ton Industry at this

time was scrupulous accuracy as we ob- thousand million square yards serve, which is a large part of annually the figure attained the trouble." in 1951 and slightly below es Lord Stansgate said the or- fimales tabled at the Buxton der was worth £500,000, and conference. New York. Apr. 15.

was taken up by West German This target Cotton trading today again

Japon manufacturers. proved to be

falled to achieve last year by a extremely

Lord Ogmore - Have tame affair. In slow dealings, margin of 250 million square Government arrived at any de-

withla # prices ser-sawed

yards) "represents the volume cision' with reference 10 the seven-point range and manage of overseas shipments needed order for 10,000 tons of tin-

previous to keep Japan's keep about the

cotton-icxlile plate by China? That is worth industry going."

something close most of the day.

in the order of £500.000.

ASSURANCE ASKED

to

оп

The market opened up 1 to 5 interests points. Leading społ showed continued willingness to discount of 21 buy May at a points under July but succcented in completing only ů small amount of transfers on that basis,

Expectation of a belated rush

on

of producers to impound cotton under the Government loan be- fore the privilege expires April 30 has been restraining influence over sellers.

Market observers felt that enough cotton might be tied up in loans to tighten the "free" supply pleturs befo

before too long especially

If the

hoped-for

export demand materialises

The Commodity Credit Cor poration reported that loan im poundings for the week ended April 10 totalled 31,700 bales. Withdrawals amounted to 18,000 bales. Net stock of 1852 crop cotton in Government hands was 1,928,312 bales

(which

the

Lord Mancroft said that if

would put

The Rubber Lord Omore

Markets

London, Apr. 15.

May July/September October/December January/March

箍

specific question on the Order Paper he would do his best to answer it.

Lord Stonsgate asked for an assurance that the Government were

doing their best to get fair play for the British con-

The rubber market was stead tractors. He asked for a fur today, Prices closed as follows: ther assurance that the Govern Number & ruliber, in pence

par ib.

2016-14ment were making an effort to 2016-get other countries to work in June

2012-line with us.

Lord Ogmore-May we 2015-14 20-20know whether it is trae, NEW YORK MÄRKET reported, that the United States through New York, Apr. 15.

are supplying China, Prices of Number 1 standard Japan, with goods we are not

to supply? rubber futures today closed 25 to

contracts,

-United Press.

allowed

also

49

40 points higher with sales of 68 Lord Salisbury observed that the supplementary questions were getting out of the reope Ho of the original question. asked that further questions should be put down,

Number 3 closed nominally 30 points higher with no sales re- ported.

Futures firmed with higher cables but danand in the spot market ebbed following a fair- sized business in the forenoon to dealers and consumers.

Prices closed as follows:-

Number 1- standard

The mid-morning selling in October was called surprising by some traders who emphasised that the Government may call

allotments for aerenge

and marketing quotas of next year's crop. The Agriculture Secre May tory, Mr. Benson, today urged September that preliminary work looking December toward that end he started Merch Immediately United Press,

Gold Production

Me Toronto, Apr. 15,

July

May

24.21.

24.20

33.80 bid 23.78 nominal 21 03

"

No. 1 standard ·

May July Beptember December March

The discussion concluded.

Pepper Market

The

Italy Builds

Ships For

Indonesia

This means that in 1952, for the first time since the end of the war, company profits in- shuded no element for the in- crease during the year in the value of stocks caused by rising prices.

The incomes of sole traders and partnerships also fell in 1952, partly for the same reason. Expenditure on personal con- sumption in 1982 was consider ably higher in terms of money than in 1951, but this rise was moro than accounted for by higher prices. If price changes are eliminated personal con- sumption appears to have been about 1 per cent less in 1052 than in the year before.

REVALUATION The Economic Survey's Boti mate of expenditure on personal IL showed, that consumption was £3.675m. in 1051 and EB5Birth In 1952, when the figures for both years had been revalued at the market prices of 1948.

between

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning amounted to $304,020.20, Noon quotations and the morning's transactions.com

SHARES BUYERS SELLERS BALES BANKS

JK Bank .. 1300 1400 10 1200

INSURANCES

Canton Union

Underwriters

743 780

3.40

153

HK Fire SHIPPING

Walerboat, 12.40 Aslo Nav... 1.55

DOCKS. ETC.

Dock

18,70 S'hal Dock.. Wheelock .. 7.85

61300

"PEI-HO" "MONKAY"

FREIGHT SERVICE

Leaver

.............Dunkirk—19 Apt.

Lesvos

-Kertung→→

Apr.

Hongkong

4-5 June

tongkang

34 Apt.

Барад

For

1 July

JeeZUKI 2 BY *30 MAY ...‚Reefang-29 Juna

↑ Salgori, Marseilles, Algiers, Oran, Tanglers, Casablanca; Le Havro, Antwerp, Rotterdam & Dunkirk CIE DES MESSAGERIES MARITIMES- P.O. Box 59, Hongkong Queen's Building (Gr. Floor) Tel. 28651 (3 linsa),

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO!

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

NEXT SAILINGS

m.v. "LEXA maerbr” *.v. "PETER MAKUSK”

m.v. "ETÉBEN MAERSK”

Apt.

MAY

May

Calling Vancouver

ARRIVALS FROM U.S.A.

m.v. "EISE MAERSK" m.v.

Apr.

JEPPESEN MASRAK"

Apr.

m.V. "GRETE MAERSK"

May

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

400

19,00

4200 * 7,55

LAND, ETC.

7.40 TIK Itole! HK Land (0) 39

6015

100 ur si

27, Connaught Road, C.

2000 G 00

500 60.50

$300 00

S'hal Land 1.40 1.30 Humphreys..

UTILITIES

Tram

15 2000 15

1000 0.00

.....21.60 21.00 500 21.70 Star Ferry... 102 C. Light (0)

900 C. Light (N)

6.30 Electric.... 24 Telephone 17.50 INDUSTRIALS

Cement .... 14.70 15 500 14.80

STORES, ETC.

Dairy Watson

L. Crawford

3000+ 23.1D 249 11,00 500 17.30

(014 10.20 212.70 1000 21.70 200 21.00 1902134

USING MORE

"NATURAL”

Trieste, Apr, 16. Mrs Bukardjo Wirjopranoto, wife of the Indonesian Minister to Italy, today christened four constal motor ships here for the Indonesian-Government.

New York, Apr. 15. More natural rubber is going the latter estl- The vessels were the 426-ton Nakuha and

the Inle, Intata Acording to

mate real expenditure on food, into American car tyres, now and Ilosangl, of 250 tons each. household goods, clothing and that the price is slightly lower The Nakuha, 49 metres long other goods and services fell than that of synthetic rubber. and with a beam of 9.40 metres,

1951 and 1052, the

sald 40 per Industry sources will carry 200 cabin and deck most substantial fall being that cent of all rubber used by tyre

of household goods. passenger

vessels, 45.00

Expenditure drink and metres long with a beam of tobacco£1,22m. in 1982 and 7.50

will carry 100 metres,

£1,520mL in 1951-and on rent, deck passengers each.

fuel and rates, water charges, Two similar ships will be light increased.

The White Paper is entitled launched next month, a sister ship of the Nakuha, the Najra, Preliminary Estimates of Na-

hero last tional Income launched

and Expenditure 1940 to 1952.

The

WILS February.

All are part of an order for ahips for coastal traffic placed here by the Indonesian Goverment--Reuter,

on

Copra Quotation

New York, Apr. 15. Copra was quoted today at B225 per short ton, cit. the Pacific coast. Denlers said that

makers in March was the tree-

grown variety, compares with 30 per cent a year ago.

The price is now around 21.5 cents a pound, compared with 23 cents for synthetic. And the

says Government

no price are in changes

prospect for synthetic rubber. Associated Press.

Exchange Rates

Wheat Hits while the Philippine basis holds unofficial exchange

7

New Lows

In Chicago

Chicago, Apr. 15.

Wheat hit a new seasonal low on the news that Great Britain had withdrawn from the Inter- national Wheat Agreement, plus favourable weather and crop news.

Wheat closed to 1% lower and soybeans were higher to * lower.

Prices closed as follows:- Wheat-price per bushel,

2,19 nominal 2.2013-7.20

Spot

May-

July

September December

Corn

Spot May

July September December

nye

July

May

Qata May

8.23-2.2231 2.3136-3.30

1.00% 1.57-1.50 1.00-16

1.8814-36

1.603

1.00-1.80

New York, Apr. 16. pepper market ruled extremely quiet today with both buyers and sellers marking time, Spot material was quoted 'up to $1.44 a pound. Afloats were 21.90 nominal Indicated at around $1.43. April shipment was quoted at $1.42

7433-92 and May $1.41 a pound, all on

73-7216 an ex-dock basis,United Press. July.

New York Bourner 200 lb. Brek $13.10 nominal-United Press.

21.03 21.73

21.05 -United Prez

The value of gold and silver JAPANESE BONDS

produced

in Ontario during

February declined slightly from

London, Apr. 15.

February of last year, the Pro-Japanese bonds

33

" (As of 1910) "C" (bs. of. 1007) "D" (59, of 1024) "E" (2. of 1030) Consola

vinicial", Mine. Department. an- "A" (4..of 1500) nounced today. A total of mines produced 6,325,455 worth of gold had ellver in February compared with: 7,030,020 worth produend

by 40 mines in February 1952-United Press.

New York Metals

New York, Apr. 15, Prices in the metal market closed unchanged with the following exception:

834 72 Tin, grade A (09.00 per cent 127 or

higher) New York, per lb. 08.50 cents.

183

147

Lead, common, New York, 00-5/10 per lb. 12.50 cents. United United Press, Press

Seeds And Oils

New York, Apr. 16. Prices in the poed and als market closed unchanged with the following exceptions;--

Poomy all, por kb. f.oh. Now, York 22 cents.

Flax aced, por bushel, ab. United $3.85.-- Minneapolis Press

steady,

Pacific

Coast

the local Business was done in

market This morning at the following rates: VS. dollar (per #1) ................... market is easter.

Sterling note (per £1) Cocoanut oll was quoted Indonesian suilders (per 100)

Sam ticala (per 100) 184 cents a pound, asked. Singapore (Straita) United Press.

FIC plaires (per 100)

Tel. Nos, 36060-9

Chinese Freight Booking Office

Tel. 20401

Dates and rolation subject to change without nodes.

At liberty to proceed via other porls to leadƒdischarge cargo,

EVERETT

LINES

EVERETT ORIENT LINE

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

"BRADEVERETT”

Arrives Sails

Apr. 22 from Manila, Apr. 23 ̄ ̄ for "Singapore,

Rangoon

"REBEVERETT"

Arrlyes

Salf

Apr. 25 from Singapore, Apr. 25 for. Yokohama.

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

Penang, Calcutta,

EVERETT STAR LINE

Fast regular freight-refrigerator--passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports. "STAR BETELGEUSE”

Arrives

Apr. 27 from Singapore. Salis

Apr. 27 for Kobe

“STAR ARCTURUS"

35.00 1835 13.23

.Salis

M.V. "FELIX ROUSSEL”

will sail for Marseilles

via

Manila, Salgon, Singapore, Colombo, Djibouti, Suez and Port Sald

on

Sunday, April 19th, 1953, at NOON

EMBARKATION:

Passengers are requested to board the vessel between 9 and 11 am. on Sunday, April 19th 1953.

BAGGAGE:

Luggage room, hold, and Cabin baggage will be registered at the Kowloon Godown, No. 50. (No. 2 Gate, Canton Road Entrance) on the 17th April from 2 to 5 p.m. and on the 18th April from 9 a.m. to Noon and from 2 to 5 pm. No baggage will be registered after that tima. Passengers are requested to note that ALL BAGGAGE must be registered as prescribed above.

Our Passenger Department will remain open, on Saturday afternoon the 18th April during, office hours, and on Sunday the 19th April from 9 to 11 x.m.

Compagnie Dep Messageries Maritimes Queen's Buikling.'

Tel: 28051 (8 lines),

Arrives

May 1 from Japan.

Yokohama,

May 2 for Singapore, Port Swet

tenham, Madras, Colombo, Khor- Bombay, Karachi, ramshahr, Basrah & Bahrein, (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EYERETT STEAMSHIP CORPORATION. S/A Queen's Building, Telophone 31206. Chinasa Department: Telephone 28293.

BUSINESS REGULATION

ORDINANCE 1932

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