1953-05-29 — Page 9

HONGKONG SHARE MARKET

From Our Correspondent)

Business done on the Stock Exchange this morning amount- Ed, to $471,983. Noon quotations and the morning's transac-

ilons:-

SICARES BUYERS RELLERS SALES BANKS

V Pank: 1405 Es Anta

INSURANCEs

348

14 d. 149

Criton

230

Union XU

10 700

HR Fire XD 139

SHIPPING

Asta Nov. 1.30

cks, ETC.

N. P. Whart

Piny.dent

312

1.20 11.405831130

20

Shal Dock. Wheelpek

71⁄2 700 420 @

LAND, ETC.

K and

7.63 765 900

50 2016

.246

Sami Land

Tram..... 22.10 22 30

TULITIER

k Tim

(XD

2735

71

THE CHINA MAIL, FRIDAY, MAY 29, 1963.

Mission Will Investigate Rubber Industry

(By Norman Crump. Sunday Times City Editor)

A fact-finding mission is about to go from tho United Kingdom to Malaya.

Among the questions to be considered by the mission are the incidence of taxation on the industry and ways of attracting fresh capital for development.

It is now estimated that 70 per cent of the Malayan. industry's proflis are taken in taxation. To that extent· the answer to the second question, as well as to the first, is obvious.

All these figures suggest thut

There are, however, the wider likely to be less than had seemed questions of supply and demand.) probable. prices and costs. The peak price) of rubber In 1951 was 74d. per lb., and last week's price was 21d. While the former price. was ab- 2.3norinally high the latter is loo

tow for comfort.

it would not take much to restore the Malayan rubber industry to an even keel.

Now Malaya is in the front line of the light against Com- munism, arti a reasonably Again there is now the cum- prosperous rubber industry is an petition of synthetic rubber.

To-essential part of Malaya's de- day, United States consumption fences. Co-operation between and the c. Light (0) 1015 10.60 1791 10.00 costs of three-fifths rynthulle the United Kingdom

to two-fifths natural and the United States over rubber prices United States accounts for three-and costs would be one way of ths of the total world consump-achieving the maxinum defence tion of rubber of all kinds,

against Communism at the least possible cost.

38 t lo 10 10.0)

le Lime (N) 1.70 ans 1500 20 0.70

24 21.20 5070 2,24 Electric..

Mgear Ele.. 10 20 Toleplangin .. 10.40

INDUSTRIALS

Cement. 13.00

STORES, ETC.

Dairy

Watron

...10.20

..... 21.10 Crawford

COTTONS

3000 24.10

52

18.40

Nevertheless the nutlook for natural rubber is much better 1001 than these figures suggest. As the price falls, many amall- 400 13.00 holders abandon tapping and -TRO #4 10

switch over to other crops.

In 1951, the year of peak prices, 10 2400 19

2100 Indonesian sinnli-holders

pro- 2:0 14 12

duced 591,000 tons but In 1952 They produced only 440,000 tons.

GROWING CONSUMPTION

215 Textile Curp. 3.15 52ú 4009 » 5.15

BRITISHI BELIEF

The American synthetic rubber Industry is still under Govern- ment control, and, although it is to be handed back to private enterprise, the trunsfer may take some eighteen months.

1952, the price of in March, synthetic

rublier was reduced from 20 cents to

to 23 cents per Ib.. where it now stands, For the American fiscal year ended June

Production Riso In Japan

Tokyo, May 28. Showing a 2.1 per cent increase from March, thé mining and manufacturing Indusies prodpation index

"Abril" stood st

The

PFILE the

secarding to the Board.

Index eight per evernes stinthis lifex for

calendar year. Woods rose

Fix

per cent and téramica by 9 per cent from Mafch, while the bulgut of öthéj esmitdalites showed alight decrease.France-

Presse.

E

Foreign Capital In Greece

New Law Drafted

Athens, May 28.

A new draft law concerning

the Investment

foreign of capital in Greece is now ra- poited to be ready for approval

JAPAN COTTON SPINNERS ASK

GOVT. ACTION

.!

MESSAGERIES

PO. Box 03. Queen's Bldg.

M

MARITIMES

Tel: 20051.

M

PASSENGERS/FREIGHT SERVICE

Gjutwarda **FELIX ROUSSEL”

Leaves Marseilles

9 June Homewards

Hongkong "FELIX" ROUSSEL” ..24.29 July

Hongkong 10-11 July

Fer Manila

·Flue Marullos

25 August

Via Yokohama

via Marseilles to all Mediterranean & West Africa porta. via Djibouti to Madagascar.

Osaka, May 28. Dissatisfied with trade results under the re- cently concluded Anglo-Japanese payments agree- ment, the Japan Cotton Spinners' Association has urged the Japanese Government to take more posi- tive action to expand textile exports to Australia, "MONKAY" Ethiopia, East Afrlen and Commonwealth coun- tries generally.

Duwarde

"MEKONG"

Homewards "FEI-JO"

· PŘEIGHT SÉRVIČE

Leaves --Cutane --Kalled

·Hunburg-21 May

Leaver

„Keelung-0 June

"SILVER SANDAL" ..Keelung-20 dilly

"No concrete measures have yet been taken | MONKAY" by British Colonies to relax import restrictions on Japanese goods,"

"MEKONG" the association complains, "although this policy was promised at the time the agreement was concluded.".

The association has demanded specifically:-

I-That restrictions be

cased

on entrepot trade through Aden, vin Singapore

to

and Hongkong.

exploit the profitable Ethioplan and East African textile markets.

ment seck authority to establish 2--That the Japanese Govern

Japanese consulates In all British Colonies which hove

and

which

by the Minister of Co-ordination een requested by London to

restrictions on his return from the United relax States. The draft law is re-

offer any degree of hope for ported to make the following Japanese textile sales. provisions: ..

13

(1) Special profcetion will be

granted to foreign capital which invested δει "productive" enterprises,

L.c. projects for extending the county's national Production;

(2) Enterprises instituted on the basis of the new law can- not be nationalised, but in the event of war the State can use the payment of a just indernnity,

MUST BE TWO-WAY

3 That

First Jap Passenger Vessel

The

New York, May 28. Japanese freighter Nippon Hikawa Maru, of the Yusen Kaisha Line, would be extensively reconditioned for operation as a combined passen- ger-enrgo ship in the North

sources said today. the Government America-Japan servier, Irade

would be

Ilangkung

For

4-14 June.

Japan

1-10 Joly

Зарла

For

* June

T

我每

Hongkong

21 - July --Keelung-31 July 1 - August

† Saigon, Marseilles, Algiers, Oran, Tangiers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk.

SUBJECT TO CHANGE WITHOUT NOTICE.

MAERSK LINE

FÁST FORTNIGHTLY SÈRVICE TO: NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA via BAN FRANCISCO, LOS ANGELES AND PANAMA.

NEXT SAILINGS

#

June

June July 2

11

ARRIVALS FROM U.S.A.

MY. "ARNOLD MAERSK” m.v. HUDA MAERSK" M.V. "CHASTINE MAENSK"

June 3

June D

June 18

negotiate directly through the

io,y, "LAURA MAERSK” Sha particularly

M.V. "OLGA MARRSK” first the highest channels. with Australia, to if the prescrit Japanese

M.V. "HULNA MAƐNSK" to return ንዑ bans on Japanese textiles and so msenger

de since the start help improve Japan's highly of the Second World War. unfavourable balance of Trade She would operate between with the Commonwealth.

Yokohama, Danka and Kobe to the United States West coast "It must be understood," a ports of Portland, Seattle anti

The

Meanwhile the world consump 30, 1932 the cost of production † the enterprises' facililles against spoksman for the Association |

Ac-

tion of rubber is growing. Feording to an American estimate,

Exchange Rates per lb.

Business was done in the focal

unoticial Exchange unrket this morning at the following ratest- Uy dollar (per $1) .................. #100125

15 ኪ/ Sterthur note (per £11 ... Indonesian guilders (per 1001 27.50 Siaticals (per 100}

Aingepure (Struite

FIC plastres (per 100)

O. S. K.

31.00

6

has been estim

estimated nit 23.9 cents gures are taken rubber was tons. This year and next. It is synthetic

sold at 5

at a loss.

of the “The.kernel maiter is that some British rubber interests

sald, "Uat Jupan needs market::

at least as urgently as Britain Maru would be

docs.

withi passenger (3) Enterprises cannot mono-

Trade must be two-way. accommodation for 34 in first polise production of any article;

"With the best WI in the class and 200 in third class.

• (4) Special

Before the permits must be world, Japan cannot increase its

war she had ne- obtained from the Ministry of Imports from the sterling area commodation for 76 in the cabin

antcrprises;

rocal selling also.**

belleve that if the synthetle priceCo-ordination to establish such unless there is scope for recip-/ class, 60 in the tourist class and

likely to be over 2.5 million tons and will rise to 2.7 a year, million tons in 1957.

Reverting to this year, with were restored to 26 cents per tb., production falling and consump-natural rubber would be able to tion growing, surplus rubber compete on terms which would stocks at the end of the year are meet the need of many rubber

estates.

LINE

Have Pleasure in Announcing the Opening of JAPAN-HONGKONG-EUROPE

Fast Regular Freight Service M.S. "ANDES MARU"

Sailing on or about 1st Juno

for

SINGAPORE, PENANG, ADEN, SUEZ, PORT SAID, ALEXANDRÍA, GENOA, MARSEILLES, TANGIER,

CASABLANCA, LONDON, ANTWERP, ROTTERDAM & HAMBURG,

喀

не

Tanks Available for Bulk Oil· Space for Refrigerated Cargo

For Freight and Particulars please apply to the

AGENTS:

The Hong Kong Eastern Shipping Co., Ltd.

French Bank Building.

Great Eastern Hotel, 1st floor.

(a)

The

INDIAN PROPOSALS

300 in the third class.

She was said to be the only survivors of the pace extensive Japanese passenger fleet. The Association decided to

the sources said, the But, "withheld a reply" to that is, vessel's conversion for patenger politely refuse a proposal by use would not reduce her cargo the chief of the Indian delega- capacity. tion to the International

Cotton

Present plans were to keep Conference ak

(Mr her Buxion

regularly scheduled freight service, making Ave Lalbhai) to Japan: ICasturbahal

meeting to

ол

(6) Imports of machinery are to be considered as Imports of foreign exchange: Now it is dangerous to be dog- cannot be re-exported until companies capital matic about the costs and prices of Government-owned. Industries. one year from the time of its It is much wiser to endorse the wards, the companies may re

importation, From then on- recent injunction of Mr John L. W Collyer, President of the B. export one-tenth of the original

F. Goodrich

the capital per

Twelve per "Until the Company: Government-owned facilites are

cent of the capital can also be

made three-party disposed of, maintain the selling

(7) The

here, the ece "expand cotton transactions and several appearances Bank of Greece

first being in February 1952. prices of Government-produced

undertakes to deposit abroad сесту

year

Mr Lalbhal made

the Japanese cargo ships assigned in foreign exchange for servicing suggestion recently during a the. Now York run. end is a guarantee of the im-

vessel was ported capital;

rubber at levels which will re- cover full costs, and return a reasonable profit on the invested capital."

also

ROOM FOR BOTH

This recommendation does not answer the question, what are full costs? They may now be less than 23.9 cents, for generally speaking alcohol-based rubber.is more costly than petroleum-based rubber, and the cost of alcohol hns recently fallen. There are

suggestions

ons that lately the American synthetic industry has been earning a profit.

Once the industry is restored to private enterprise, all theso will answer themselves. questions

Private owners will see to it that they sell at

remunerative and

will

mean

thin. straightforward competition be

and synthetic. tween natural Meanwhile, if

If production tundi consumption maye. on the lines suggested above, there will be roam for both kinds of rubber at reasonable prices.

This, however, 1 looking eighteen months ahead, and the

Interval, intervening

short although It Is, needs to be bridged.

'UP TO US.

Tels: 98601 & 82869

If there lap temporary drop in Chinese Freight Agenta:

sales of synthetic rubber, ane Tel: 26624. expedient would be to reduce the price. That would be wrong, and my Information is that it is unlikely.

O. S. K.

LINE

Have Pleasure in Announcing the Opening of

JAPAN-PHILIPPINE-H.K,-NEW YORK Fast Regular Freight Service M.S. “KYUSHU MARU” Sailing on or about 2nd June M.S. "TOKAI MARU” Sailing on or about 15th June

for

KOBE, NAGOYA, SHIMIZU, YOKOHAMA, SAN FRANCISCO, LOS ANGELES, CRISTOBAL, NEW YORK, BOSTON, PHILADELPHIA & BALTIMORE.

For Freight and Particulars please apply to the AGENTS: The Hong Kong Eastern Shipping Co., Ltd. French Bánk Building.

An alternative would be for the American authorities to resume stock-piling, although that course would meet with opposition. The simpler emirse, perhaps, would be to close down some of the synthetic plants until demand revived.

annum.

end the United Kingdom to hold round trips a year.

Tho ilikuwa Maru

exported each year as

As profits; a

to

a consistent sum in

uvold wasteful competition. when she was one of five

visit to this country,

The twin screw

Japanese textilo representa- built in Japan in 1930-Reuter. (8) Special tux facilities aro

tives argued that its too early t be granted to such enter-hold such conference after the prizes;

Buxton meeting and that, in any event, the international must remain too unstable for worthwhile discussion until the

(9) By special decree cortain banies will be allowed to receive foreign exchange deposits for a pericd-not-longer-than-lx months and at an interest rate not higher than cent per annum; be granted to Greek shipowners (10) Special facilities are to for the transfer of their ships

eight

per

under the Greek dag.-Router,

The Rubber

Markets

Singapore, May 28. Prices of rubber futures closed today as follows:- Number 1 rubber, per ib.

June

село

Korean situation Is "resolved one way or the other.

Meanwhile the Cotton

nation treatment to the import Spinners' Association is asking that Syria accord mast-favoured- of Japanese cotton cloth.

Grain Prices

In Chicago

Chicago, May 26. Wheat closed off 1% to 1% cenis and soybeans were up to 1 cent. Prices of grain futures closed as follows:

Wheat-price per bushel

Syria, which is now conduct ing trade talka with Japan, has already agreed to grant this treatment to all Japaneso ex-Spot poris except cotton cloth.

Juty September December

Corn

BRITISH COMMENT March (1954)

2.07 nominal 2.0771-2.07 2,101

2.151-9.10

2219

1.041/

13818-% 1.333. 1.4TY

1.503

14412 148-1.204

701-1

Manchester, May 28. Spor Relaxations which had been July announced so far in the restric-Beptember

December Honk on Import of Japanese March (1954) goods into British colonial fer- Iro ritories do not incrense very [Juży

the scope for cotton September

Oats from Japan, says the

July Guardian trado

September

Boybeans He was commenting on the Spot the Japan Cotton July nows that Spinners'

Association suggested Augint that a mission be sent to the September

| November

2.45-2.6414 sterling area to promote cotton | January (1054)

March

2.073% textile experts.

New York flour-per 200 16. Sack

7052-24

July

70-6-12

greatly textiles Manchester

August

071-A

Number 3 rubber. Jung

044-12

001-0215

Number -rubber, June

Nuntar 4 rubber, June

Spot rubber, unbaled Blanket crepe

No. 1 pale crepe

Valted Press. LONDON. MARKET

London, May 28. The rubber market was in- active today. Prices closed as follows:-

Number 1 rubber, in pence per 19., 20%-21-United Press.

All this is a 'matter for Ameri- can decision. For British rubber 10

NEW ХОДК МАПКЕТ

New York, May 28. No, I standard closed today

поп-

2.83% 2.05-1.05

AIA

2.09-2.6315

2.019-9

mo instances relaxations $1320 nominal-United Prens, GOTT.O have been

confined to taxule goods, in others increased fnclities have been given only for a few types of texilies and in others again a specific and by no means generous mit has been set to the total value of Japanese textiles which may be imported.

Japanese grey cloth now ac to 20 points lower with counts for about two thirds of

companies the important points spies totalling 14 contracts. the top of British grey cloth No. 3 standard closed nominal-Imports, but this trade is now Iridged is comparatively small, ly 10 points lower with no much smaller

are that the price-gap to be

only

and I at the worst should exist for a limited period. One Thust, assume that there is

non trade recession, and

sales reported.

Scattered selling in futures

than in earlier pest-war years

exported However Japan was coupled with a lower stockmore cotton piece goods, in the market trend and continuing

first quarter of this year than uncertainties in

the foreign either the United Kingdom or political situation.

India.

Cotton Prices

New York, May 28,' Prions of collon futures closed {today as follows:-

Spot

October December

Mincch

May

July

October

33.00

33.47-35,48 23.47

33.68-33.60

33,42 nominal

.88 nominal “United Press,

NEW ORLEANS MARKET

Apot

Gotaber Docomber March

July

October

33.00

33,45-33,40

33.00 hid 13.61-33.42

33.48 bid

23,47 blu

32,13 hid

United PreIS,,

no fresh outbreak in Malaya.

It follows that holders of shares

received Lancashire traders In sound rubber com

In the spot market, dealers companies should continue to hold and see things

reported a dull situation with with mixed feelings statements through. But, even

even with their

consumers looking on while by the now Japanese Premier shipment offerings were in that Japan was not in a post- tempting yields, running in many

of small supply

tion

threat cent and

to create and rather high cases up to 30 per higher, it would

competition priced. No. 1 smoked ribbed strong take a brave

economie sheets wore quoted today at 25 urid man to buy rubber shares, except

that the days of cheap LONDON TIN Japanese cenia a pound. Prices closed as

labour wore gone, as a small section of a widesprend

follows:-

the trade culler continued. portfolio.

JAPANESE BONDS

July

No. 1 standard

Boptimber Decobar. March (1954) Mas

Tel: 28624 Consols

London, May 28. Japanese bonds

of 1800) 02 (48. or 18073

08 40 (53.

of 1010 13146 "D". (§¤, 2 of 1924) 100 "E" (53⁄41⁄25, of, 1030) · 13834 012 Unlled Press.

May

Tela: 38801 & 32869 Chinesɓ Freight Agents. Great Eastern, Hotel, 1st floor."

No. O standard.

July Beptember December Marets tipsi)

United Frem.

At the moment Japanese

Britiati

ED-

MARKET

grey cloth prices do not pea greally below those for

London, May 28, goods The tin market who pasier. comparable though Jaban lias à marked turnover was 160 tons incluu- adveninge in Anished cloth. Ing. 55 lons for cash. Pricos

"Mayements

Japanese closed at the end of the offelal quolation

are not al-maining session as follows: However, ways in the direction which Foot Up, buyers cunipelitata opeet and there and id, collera knjige fla are grounds for Believing that dona at 70-733- they are not always determined Three months un sellers s by, or proportionate to, changes Tuition done at

Bettlement in costs."----Neuler,

Three-monidan · Lin,

מתעוות

Intted Press.

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos. 36006-9

Chinese Freight Booking Office 27, Connaught Road, C.

Tel. 20461

Dates and rotation subject to changa without notica.

At liberty to proceed vix othée parts to toad/dlscharge cargo.

EVERETT

LINES

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

"REBEVERETT”

In 'Port Soils

Loading

May 29 for Singapore, Perong,

"LENEVERETT”

Arrives Salls

Rangoon, Calcutta.

Chittagong

June 1 from Singapore, June 2 for

Kabe, Oraka, Moji, Nagoya, Yokohama & Tokyo

Uny.

(Accepilog cargo for transitipment Kobe/l'usan and Hobe/Okinawa)

EVERETT STAR · LINE ·

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Peralan Gulf Ports.

"NORDSTJERNAN"

Arrives Salts

•

May 31 from Singapore. June Moji, Kole, Osaka, Nagoya,

Shimizu, & Yokohama,

"STAR ALCYONE” -

Arrives Sails

June 4 from Japan. June

6 for Singapore, Port Swolten- ham, Colombo, Bombay, Karachi, Khorramshahr & Bahrein.

tAccepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION SIA

·`Quech's Building, Telephone 31206. Chinese Department: Telephone 28293.

BUSINESS REGULATION

ORDINANCE 1952

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

Now On Sale at S. C. M. Post, Ltd.. HONGKONG, AND KOWLOON..

TEN CENTS EACH