1953-06-19 — Page 9

THE CHINA', MAIL, FRIDAY, JUNE 19, 1953.

Lack Of Uniformity In Colonial Territories In Control Of Textiles

Manchester, June 18.

A report. in.today's Manchester Guardian emphasised that the full extent of the easing of restrictions on the imports of Japanese textiles in British Colonial territories is not yet known.

"Not all the "Colonial territories, it appears, have yet decided what easing of their restrictions on imports of Japanese goods they will intro- dure in response to the British Government's recommendation on that sub- ject," this paper, said.

The original restrictions varied considerably between one colony and another, and the relaxations which have so far been reported, also dis-- play a lack of uniformity.

Argentine Seeks

New Sources For Petroleum

Buenos Aires, June 18.

Efforts by Argentina to free herself, from her dependence on British sources for most of her petroleum imports are reported here. The reason

"In British East Africa, for .example, the embargo on all imports of Japanese textiles is

throughout.

10

be maintained

the current year, and in many instances the additional facilities for Japanese textiles Аге limited either to a comparative-

amalktotal value or lo-

ly

few specified types .of goods,

ar both.

"In this way the scope for Japanese textiles is still small and in Jamaica, Hongkong. some other markets".

In

Nigeria

for admitting

satisfactory arrangements have been made imports, the Manchester Guardian stated.

"Japanese textiles will be few classes of

restricted to a

goods and a maximum #gure

Soviet Bid For

Trade

Gradual Sagging MESSAGERIES

With Argentine In Commodities:

Moscow, June 18.

» A Sprint, commercial mis- don, of six,, headed by, Mr Nikolai Chechlin, Director of Soviet Forelin. Trade, left MoscOW today by plane for Argentina,

The mission is expected conclude a, Saylet. Argentine trade peci parth $130,000,000 (about: 263, $70,000), providing for an Interchange of d

Soviet petroleum, steel products and forming and, ali drill- ing machinery; for Argen- tine mution,, pork, cheese, wool and paced all.

An Argentine malimian visited Moscow in April. Reuter.

HONGKONG STOCK EXCHANGE

Not A

(By

Slump

Standy 's. Campell, Router's Facial Editor)

London, June 17.

Box Queen'e Bldg,

Outwards

M

Paro

MARITIMES

Tol: 20051.

M

PASSENGER/FREIGHT SERVICETM

-Leaven Marmollien

"FELIX ROUSSEL" Balled 1

"LA MARSEILLAISE”

“VIETNAM"

Homewards

Hongkong 30-11 July

2-4 Aug.

B-10 Aug.

Yokohama Salzon Yokohama

Due Marscifion Via

7 July

17 July

Leaves fiongkong 23 July

*

Aug.

27 ANK.

“VIETNAM”, „an ngunde 27-Aykut

"FELIX ROUSSEL”

"LA MARSEILLAISE” 4 Angusi

* A * Bopti

Mabita

Matgen

Saljon

vin Marselilea to all fediterraneon & West Africa porta.

via Djibouti to Madagascar.

+

The news from Köreh unü. Austria'may not itself be a major market factor, Some of the com- outwards modities may still be vulnerable obviously, and perhaps also wool and coffee.

copperMONKAY"

| "SILVERSANDAL"

"MEKONG" Homewarde "MONKAY" “SILVERSANDAL"

Rurope Bailed

FREIGHT SERVICE ............

• Europe -Salted

tronskonk

19-20 June

For

Japan

2-3 July

Japan

‚ Kamburg-Halled LOATOR

19-20 Jply Hongkong

Japan For

14 July..

August

2. Reelong="D-August:11 - August: ; ma'↑

+ Salgon, Marseilles, Algiers. Oran, Tangiers, Comblance, Le Havre, Antwerp, Rotterdam & Dunkirk.

Subject to change..without notion, martie touh

But after the...falls.that most. of the com- modities have already, bad, their outlook, at worst, MEKONG should be a gradual sagging rather than a slump. Since stockpiling passed its peak impact on the markets more than two years ago, strategic demands have not, for some time, been competing greatly with commercial demands.

un-

It is the commercial demands that present the mojir certainty. Armistice in Korea, and

some belated Russinn common-sense in Austria, oro not themselves a world settle-

(From Our Correspondent) ment; more than enough trouble- still remain in Indo-China

Business recorded on-the- and elsewhere,→ But an approach Hongkong Stock Exchange this to a world settlement is not

from

LIVERPOOL

COTTON

:

morning amounted to $230,118.-be ruled out. On the Internal EXCHANGE

The morning transactions front Moscow's retreat and the noon quotations were: Stalinism is

·1% 80 latest

EO.

SHARES BUYERS BELLERS SALES

BANKS

IRC Bank

· East

1320

Agio.. 140

INSURANCES

Union

140

31.70

KK Fire STUPPING

Waterbout

has been set for their total pOCKS, LTC.

volue.

is that she is having to go short of meat, her tradi- "In the Gold Const. the posi tional diet, to pay for oil.

The

tion is ill not clear. Government has asked traders

Japanese goods during the

After Persia's, nationalisation of the Anglo-to apply for. lleences to import. Iranian Oil Company in 1951, feelers put out in Teheran by the Argentine Minister came to nothing.

The explanation

of

of

Smart

Rally

fallure was thought to be, two- fald: the shortage of ships to carry the 5,000,000 tons crude and fuct oll which Argen- titia imports every year and an

desire

not to

twelve months beginnlug July.

and the range of goods con- cerned is larger than that for the current period..

"The volumes and values of the imports

be which wil icensed in the different classes· of goods however have not been

haunted.

GREY CLOTH

March 1052 no

new

understand to British suppliers On NY Cotton echtes have been issued in the

as long as she is dependent on them,

L

report Market

Recently

from Caracas stated that the Argen- tine, Ambasador in Venezuela, Senor Carlos Dominguez, had conferred with the Venezuelan President, Colonel Marcos Perez Jimenez, on the subject

of oil.

Fordinary way for the importa- tion into this country (Britain) of Japanese grey cloth for re-

Dock ..... Provident

Wheeloc

LAND, ETC.

IK Hotel

1 Land...

Humphreys

UTILITIES

Ten

trado volu

insistence on the

flagrant violation of Stalin'ë;

barler with the peasants,

skin deep.

DELAYED

London, June 18.

MAERSK LINE

- FAST- FORTNIGHTLY SERVICE TOP NEW YORK, BOSTON. BALTIMORE & BILADELPHIA via SAN FRANCISCO, LOS ANGELES AND PANAMA, NEXT SAILINGS

in Port Buoy A-10

July July

17

m.. HOLDA MAERSK"

m.v.

mt.v.

"HULDA MAERAKON "CHASTINE, MAERSK"

ARRIVALS FROM U.S.A.

MA, "ELAK MAENSE”

July

July ,10

July 18

testaments to allow, real hope The Liverpool Cotton Ex- that Moscow's International change may also go more than change, through which Bri- tain imported most of her ...raw cotton before thom.v. There is no presumption, that an approach to a world settlement Cond, world war, will not m.v. MAREN MAERSK"

be reopened for at least an- 7.30 7.83 2500 7.50 would itself bring a slump,

Lifting of hearts on the passing other year.

22050

14.20 7,85

01 3200 14 01

1430

of a long nightmare, might, on This is the iniplication of an 23 2315 1000 m 23.20 the contrary, lift gome, markels offcial report published here

..and today. German Janexple. Japanese bonds in London, which

Reopening, of the Liverpoot:

Star Ferry * 110"

C. Light (0) 110 11.40

32110

C. Lint (N) 7.05 A300 LO Bleetrid

1930

For

23.20 29.40 1300 @ 2320 have been abnormally depressed Cotton Market. which could and offered abnormally, high provide the "Insurance" traders yields, already hova a decidedļ need ageinst price changes better tone, even though peace without involving Government in Korea can be argued as bearisix money, is handicapped by two for Japan's economy, and is so things. regarded by the Japanese,

Telephone INDUSTRIALS

Cement Hope STONES, ETC.

Catry Watson

16:20 10.20 13.30

20 20 20.30. 8200 um 20.20 21 241⁄2 471 09:24.10

100 24.tu 391 24.10

COTTONS

Iwo

2.10

export after processing. Hesitancy

cloth totalling In NY Stock

Exchange

ECONOMIC

from

the

2. An essential part of Britain's'

raw cotton comes United States.

The Government fears that if But an approach to a world the Liverpool Market were re- settlement would entall some opened, it would lead to a loss. economle.transition, which, would of

"From April.3952 to. April New York, June 18.

there

were imports of Colton traders today climax Japanese grey ed an unusually quiet session 73,000,000 square yards, with smart rally at the close. "Much of this

cloth

was! Closing at or near the top.ordered and licensed before the final prices were up to 10 issue of

of licences was suspended. points. The market opened une but some of it has been brought

into this cou

country under licences. changed to up 4 points. list of countries Prior third on the

to the late recovery, issued by Colonial Governments getting all from Venezuela but business came

complete in which it was stipulated that has to import it through British standstill for frequent long in the cloth should be finished in companies

this country before being sent to

U.S. boom under the Anglo- | tervals, making the session one

the slowest of the year, the colony concerned," the re- Argentine "meat for oil" barter, of

Venezuelan oll direct and pay

narrow range. until

MEAT FOR OIL Argentina, the report said, is

to

Now, she would prefer to options held..within o ex-port odded.-Router

for it not with meat but with the-fury-of-buying-t under.

whent.

market's

the

wny.

Traders leading toward Beltish companies, under the bullish side talked about the annual trade agreements signed

stubbarn resistance here, usually .atter much.

pressure, selling meat prices, bickering over

of prices Supply Argentina annually with proximity

of Kovernment support rate and Lors about 2,000,000 crude and fuel oil and a smaller the blurred

each

quantity of aviation spirits and lubricants. The total value of these is about' £40,000,000.

to

new

The

the

the

crop picture

have been strong deterrents to selling pressure. But they have live because

of the about

been slow to take the po

To pay for this, Argealing colly slow

sends to Britain a large quan-'

Agreement On Tin Hoped For

London, June 18. the dis-

Tin producing Interests and development traders in London. are hoping

and the

The that an international com- slow-do

-down in textile modity agreement on In will With a rapidly expanding market activity. In fact, most be reached during the meetings population eating more and of the speculative following in of the

lity of meat, mostly beef.

¡ more

of export buying. recont

country cotton appears to have trans Internating Party of the

been

meat, the in recent years has

hard put to it to maintain her exports to Britain and recently

at home.

Tin Study Group ferred interest for the present in Brussels. to the faster moving grain and

circles in London con- Tin circ stock markets.

sider

that conditions in the tin she has done so only by im Usually

ally conservative market trade are now more, propitious posing a mild form of rationing operators say they are coming to for an International control the conclusion that the, 1953:

953 scheme

under United Nations This year, even with a meat-crop now deinitely is on the auspices. Any such scheme,..if less Friday and sporadic short-defensive. They cite the lateness

adopted,

to be within. of the

would have season and the greater the terms of the Havana Charter.. area on other, days, she is behind. vulnerability of the schedule In her shipments,

plant to involving full consideration for normal hazards of a growing consuming as well as producing

But year the crop interests.

this

of centralised

be awkwardly aggravated by the ro

second snag is political.' present financial transition in the The system U.S. The proximate threat to cotton buying operated by the markets comes not from any raw cotton.commission was..act of Communist up by the Labour Government, but- from the highly un It still has the support of the certain prospects of such things Labour Party and of the Cotton as the US. automobile und steel Workers' Unions. industries--anti of U.S.imones

of the Unions have policy.

Washington's presentme

recently said

would Hit they maney managers are convinced opposa" New York, June 18.

say attempt by the Ive Government for that the threat of clump comes Conservative Stocks were chalked up

not from Moscow. but from abolish, the Commission and re- small gains todty, although the

inflamed.by..soft turn all.cotian imports session was marked by increased hesitancy in view of develop

soft money and

budgeting, private, enterprise.

The Liverpool market was ments in Korea and East Berlin.. Accordingly they are determined

Volume dwindled to 1,010,000 on a reform, and are finding it closed at the beginning of the

war-Reuter.. shares-from-1,150,000, yesterday, terribly arduous.

At the close, Industrials hold

gain only 12 cents of thele

finished 10 cents. Utilities cents lower.

ralls 17

Experts pointed out that in markets as thin as those of a change in recent sessions, direction can come suddenly.

seems The concensus, however, to be that even though there

be further setbacks, may

baso

is being formed from which

the market probably can advance.

Ralls had gains ranging to $2 in Atlantic Coast Line at the day's best. Movement was very narrow among the leading Industrials.

The market was narrow. Of 1,048

issues traded, 421 advanced, 363 destined and 204 held unchanged.--United Fress

US business has been.buoyed by faster expansion, oficon- -sumer credit than can be allow

ed to continua. but, that has In fact been accelerating,

British, markets liavo benefited from an expanalon of the money supply which is very dangerojus in the light of what is happenlig in New York.

...CHIL

W German

#2:

Recovery

to

ta

per

Washington, June 18: The Deutsche Industrie, In-|| stitut, an

ofanisation spon- sored by German industry, said. Being.otherwise, engaged, London hardly anticed that the today that industrial

produc- New York money and bond on in West Germany had in- markets celebrated, lue. Corona Croared by 192 per cent in the by having something like a Past ve years and by.56.3 tion t panie. If the National City Cent compared with 1030. Bank

Abem describe

1048, 1,700,000 now! jobs had been created in West demoralised', in May,

they werd

were Germany than that on June

and real 1 and

wages In the morning of June 2. Thero industry had risen by 62 per after the Federal Reserve, gave cent, the Institut sald in a re

entitled "Five Years them.some

psychological help view

Market Policy," Social

tho and the worst may be over,. But

the liberal there was not much practical me given, to. help and they are still very economic policies of West

German Economics

Minister sensitive.

Ludwig. Echard,

According to the. The National City--which is not an opponent but a leading Europe, Including Britain,

West A direct exchange of wheat season,

Germany now leads, for Venezuelan oil would accord-faces a particularly heavy boll The Working Parly was'

tin was quiet, advocate of the light, money The ingly go a long way towards weevit infestation and will re-created at the Group's meeting to Tu market white policypoca.co far as to say that home building, having built 30 relieving this now chronle prob-quire local weather hereafter in London last March and incuting u tons for cush, Prices, the US Treasury, has been sooms; per 1,000 people in 1952:

the handicap, was instructed to survey the closed at the end of the official "confronted by a dimeult if not Reuter.

possibilities of such an internin-morning session as follows:-

impossible situation," caused by for liquidity. The tional commodity agreement.

"a run Spat tin, buyers

#7314 Spot in wellem

75 Treasury one-your certificates Business done at ... "8121 "went begging for buyers! when Tizen-monitus tin, buyers · G70.

the banks falled,

them Three-month an agree

tin, sellers 67235-

6723-070

by borrowing more from the Fed. Settlement

was that the Eed has --United Press.

lem,

OILFIELD DISCOVERY -Another, Fund--perhaps. Joditer, terms, solution lies in the dis- covery of a new and important ofield in the northern province of Sallo..

A now well there is credited with a day yield of 600 cubie metres of oil, which leads to the hope that Salta will eventually outstrip Commodoro Rivadavio in)

to overcome United Press.

Conservation Of Tin

Washington, June 18.

i In 1050 the International Tin Study Group, meeting in Parls,

ment.

LONDON TIN MARKET

London, June 10,

drafinda was.. Nacially convened United;

schedulsiitled to usinem dojie at .........

tho

Tin

Conference In

Genova in the same year.

Owing to United States op- position

agreement .no

was! reached and the Conference was

Patagonia as the principal location, top United States Defence

The Offee at Defence Mobilisa-adjourned.

source of petroleum.

This Paris draft providei. for: Planning Apendy, announced it the creation of an International had taised the goal for electrolytic Tin Council, with equal voting.

Singapore Rubber Futures

Singapore, June 18. Prices of rubber futures closed:

Nimber 1 rubber, per ib.

July

President Peron's second Five- un plate facilities to 4,500,000 net powers for producing and con- today as follows: Your. Plan alons at reising dones- tons of annual capatybe cuming out provided for tic output from 3,508,000 tons, of reached by January 1, 1955, which about: 3,000,000 tons come

Secondly, it To meet this goal, which is a from Commodorovadavia, to target, the Government grants

port. control system 4,000,000 kona En- 1047.

the Car Wax write-offs on now facili-operated by

producing. Thirdly, it sko

and

to be

of

· September

* August

Number 1 rubber, July

Number rubber, July

for Number rubber July

Spot rubber:' unbelid

Obviously, most, if not all, of lies. The Omee said it had raised. this increase will, bo sought in the goal to conserve tin through the creation of a buffer stock.. Banket pepe

the increased use of clodialyle pettin_¡plate,” Applications,, · had

in addition to this, provision No. 1 pala crepa

WAR

timė, ank

Salts.

If the Pian's target is met, been received from American in the event

msdo

for, setion to be fakera Argentina Bhould be nearly self-compans to meet 50 per cent of

of a a shortage. sufficient in oil in four years' the new crore in facfites, the day, that the producing countrica Producers in London, said to- Office added.

An Grillial goal, announced in Ato now agreed

pn

the nood for

الة الانا

673-60

07-6715 50-60 AAA United Prées,

Change Rates

to support

One-redikúr, ther battice.10

been.

reduce their borrowings; nuother, Fominously, is that the banks

0.

"TREIN MAERSK"

For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN & CO

Pedder Building.

Tel. Nop, 36086-9

Chinese Freight Booking Office

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Textile Industry

Advances

U.8

Washington, June 18., production of cotton broad woven goods during the

fear an advance in the Fed's dis- first quarter of 1953 increased

count rate (a rise in the U.S.3 per cent over the last quarter bank rate).

of 1052, according to a report of the Commerce Department.

Production totalled 2,809,000,-

linear yards.

FORTENTOUS

000

ph June 2 was portentous. In textile industry wis also, in-

The U.S. Treasury, bul, tender

Mayaalthough, tho. Treasury, was enlarging ith the rale,

of

the consumption. of all kinds for fabrics,

The Improvement in the dicated by Bils, yarn long of 1953 amounted to 1,001,149,- Ry, June 2 on 000 pounds compared, to 947,- previous

Matially on which during the, arst. quarter

a three-months, Treasury but was 280,000 pounds Th, the p too long-term for the liquidity quarter and 918,598,000 in the Acekers. So

the t

jumped first quarter of 1952-United from 2.004 percent

centron terma perila "Proms,

N.Y. Tin: Prico

the fearle moves in pennies per, £105 that is a jump of more than Ga In the meantime, she will July 9852, det kho tagget: 10 bola echo on the lines of antiles Pani dons in the beat UU. It won n kitter Film 20% New York: June 184

of the

£100..

disappoint Prices in logically indicato top other rebced by the gear 1050 at a ces remain to becoming of the mllowing des funding.only bullion uf.a with the following exemptions:- pred policies when in condement to the Treasuryodhat, after here blood today unchanged Kources, than, the bead-oating (4,100,000 met

annually. Differences, Briah Her latest efforts in United States electrolytic capacity belved, however, regarding the

US, dollar (per 43) undir Harling noto (per &1) PORESSO SANTA

marketable debt of mora, thùn] [Tia,; Grade (09.80 per cont Caracas, ade 11 therefore being on Janusry 1, 1950, was at an target price level and the prices Indonertan gulchery (per 100) -150 $150 billion," H had to revert to] or higher) watched here with much in- annual capacity of 2,800,000 nei, at which the buffer stock should

́13 imas - Skonča (per 100) ajunsk 31.79 || bill borrowing; on Junė 2, even New York," per 15 92.00 cents. terest-Beuter

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BUSINESS REGULATION

ORDINANCE 1952

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Forms()) and 1(c)

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