1953-07-08 — Page 91

MARITIMES

Tel: 50031.

M

PASSENGER/FREIGHT SERVICE

Outwards "FELIX ROUSSEL”

Leaves Margališes

Balled

LA MARSEILLAISE” 7 July VIETNAM ........17 July Homewards

Leaves Hongkong "FELIX ROUSSEL” 25 July

LA MARSEILLAISE" 4 Augu

Itongkang 10-11. July

2-4 Aug.

For Yokohama Balgon Yokohama

D-10 AUT.

Duo Marselites Vla

24 ADE.

Manila

21 AVE. 14 Sept.

Malgos

HAICON

vir Marseilles to all Mediterranean & West Africa ports. vis Djibout! to Madagascar.

"MEKONG" "COURSEULLES”

FREIGHT SERVICE

LJAVCE

•Europe-Sailed

„Europe-Salled

Leaven

Italy's State-controlled steel industry, coming | “VIETNAM ................ 22 August up from behind in a rush, is nearly ready for a dangerous challenge to Britain and other European steel producers on the world's export | outwarde markets.

Its leaders are confident' of success, in con- Homewards verting Italy, traditional steel importer, into an exporting country, thanks to the new glant | "Cornigliano Integrated Steel Plant" at Genon. It is to be the most up-to-date on the continent→→→→ at least equal, it is claimed, to the new plant at Port Talbot, of the Steel Company of Wales.

the Iast 10-

Ald. dollars. begun, three

exports, about £145,175,- 000 were £0.000.000 down.

the

rold output is taken into considerallon, though, there was

favourable balanco of trade of about

£8,000,000

for the fve months,

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business done on the Stock

Exchange this morning amount- ed to $700,780. Noon quota- tions and the morning's transac- tions:-

In other fields it is the same

of trade story

opportunities inised by

mostly through

Promotion kecnicas.

American buyers have complained at the leisurely and old-fashioned way of business in texiles. The greatest source that of irritation seems to be deliveries of fine cotton goods months but are taking six-

BANKA used to 30-day Americans are deliveries.

Britain fails, too, lo

tap the American sudden tremendous vogue of summer clothing. It is a well-known fact in indus- try that British tropical wor steds are the world's best.

Fet ste

themselves

paign to prove by their failure to run a cain- British Brms allowed Italian manufactures to sweep the field, Silke from Italy have made Vast Inroads. Japan swept up the culton print trade.

MARKET FLOODED

Other fields neglected by Britain include sporting goods (particularly golf equipment) and small boats for yacht en thusiasts, the flower seed trade, cameras, stainless steel cutlery modities for which Britain still and sewing machines-all com-

"has a name."

tallans, Germans aud Japanese have flooded the United Sintes with sewing machines during the past few years, a field they never before touched.

"Britain's balance of trade with Canada is growing steadily worse and, to trade, you need not only a willing seller but a willing buyer. You can't sentiment as a basis for trade

us

ing Money court. It is only natural to cell to the highest bidder,

He did not

Canada blame selling where she could get the Britain bul highest prices, Lomon, July 7. would be lor to the Canadian The Anglo-Italiani Mixed market

permanently unters teenamke Committee met today prices come town.

review trade

WITH ITALY

wo countries.

between the

The Committee examined laly's balance of payments ith the sterling area of which Britain in the banker, necording authoritative source.

nn

British and Italian officials of he Committee began their re- ular half-yearly meeting here review Anglo- esterday to

Anancial lalian economic, rarling questions.

The source said that the Com-

mittee would

Laly's

views

to the

21:0

consider

an problems re- various necessary

itions for propress towards |

Earnings Of Oil Companies

In Britain

London, July 7. Although the major British onvertibility of currencies and oil companies have paid out a emoval of Iratic restricions. little more by way of dividend Britain has already exchanged in the past year or two, their iews on this question with Del-distributions are still remark-

West

Germany, the ably conservative compared lum, Netherlands and Scandinavian with American standards, writes

City Editor Emest Eve. ountries.

Britain is believed to consider The average oil company in hat minimum necessary condi- the United States, for example, lons for progress towards con- pays out about half its profits vertibility

eurrencies of

are to the shareholders. Ferti

ound internal financial policles, jour

he pursuit of good creditor boiteles by ercditor nations cdequate and yellability of inancial support,

These IWO Jast conditions vidently refer respectively to United States trade policies and he policies of the International The United Monetary Fund. States as the largest contributor has the dominant voice in it.

The talks are expected to end later this week.

LONDON TIN

1

MARKET

London, July 7.

Prices of tin closed today at

the end of the oMcial morning

ersion sa follows:

Spot, tin, buyers

Spot, tin wolters

Flurineas done at...

Three months tin, buyers

Three months tin, aellers

Business done of

Sestlernent

The market was easy.

over was 25 tons.

605

010

Mit.

Turt

were There co cash sales reported.Unlied Press.

con-

Despite the prestige held by British stainless steel, American commerce

both experts Say and Sweden have now the greatest hold in the United States.

Denmark

by

+10

vacuum

13

to feld-

RHARES HUYENS SELLERS SALES

C'enten

Union

1K Fire

SHIPPING

Ama Nav

Waterbool

DOCKS, ETC. K. Wharf Dock

Three-quarters of the money Immediate operation, the others that went into” the Italian con- are in the final stages of con- struction, were, in fact, Marshali etruction.

A When work was

"Mesta" hot strip mill, years ago, costs already installed, will handle 120 were estimated at £34 million. tons an hour at a speed of 17

the Inst stage is

m.p.h..

producing 3.3 yard wide to £50 million expenditure | sheets down to about 0.1 inch

is taken for granted.

thickness; a cold strip mill will process 60 ions at 34 m.p.h. down to about 0.000 inch, both, the Company's chief engineer proudly told me, Europe's Jargest and most modern.

In one effort the Cornigliano ugement has already failed in recruiting workers, it had as, taken every possible

precaution

to

но plek non-Communists,

Just

what Cornigliano involves for Italy can best be explained by saying that the country's total output of steel is now running at 3.3 million tons unrunity. It and when this mill can produce all of which it will ultimately be capable, it will turn out 1.200.000 tons all by itself, all of it high- to be sold, class steel sheels under favourable conditions, at in the first election of shop

to 4d. 3d.

pound

under stewards, the other day, two of id, per resent world market

the nine members of the plant prices.

to Ly means to the committee turned out production managers members of Italy's Communist eventual purchase of coal and trade-union. North

African ore at British, French and German price levels, forced whereas at present Italy Is

to pay up to 30% more, receiving, since the war, no coal from Britain, very little from America, all from Germany. practically Below-International-level pay for its 3,000 workers should do the rest to lower production costs to better-than-competitive levels.

MEETING

NEED

Sugar Prices

In N.Y.

New York, July 7. Prices of

futures Suztar elosed today as follows:-

Contract No. 4 (world)

By this autumn Cornigliano July will be able to produce as much September

October sheet steel for ship's plates, ear: January (1999) bodies and the like as Italy's March Industries

thus May may require, closing the country to steel sheets Sub imports. By next July, produc- Spol techts per b. fo.h. FOA 20.0G

tion will suffice to initiate a full- scale export

directed drive primarily though by no means exclusively to the Balkans.

HK Bank East Asia INSURANCES

1500

1 1500

734

20

785

141

16.20

1.30

130 0512 2015 1000 201,

12.10 12.20 2500 12.10 3500 12.09

1.00

6.10

4000 г Д

1500

0,10

1000

1.10

2009

6.15

100 7.05

500

unique distinction

7.00

literally

1500

7.95

C

04 357

03

territory.

Proviilent

S'hat Dock Wiecinct...

LAND. ETC.

1K Batel

IK Land Sial Land..

1.35 Humihreys. 10.10 UTILITIES

Tram

24.20

24.70

25 500

500 24.30

Star Ferry... 17 C. Lk 10, 12.10

109924.70 1000 24.70

500 12.20

2000 * 13.50 1000 12.0

500 12.30

C. Light (N) 8.30

Becirle 25.60

"Muçao Elec ̈ ̈ ̈31⁄2

Telephone

..21.20 INDUSTRIALS

Cement

Rope

17.10 STORES. ETC.

Datry

...... 22.10 22.30

000 11.30

500, B.20 1600 M 2015

2000 20.70

500120

.... 17,30

1008

500

1714 12

500

17.70

1800 #300 21

21.00

100224.20

506 22.20

Watson

....21.80

100 6 24,70 500 24.00

L. Clawford 23.20 COTTONS

Ewo

1.20 2.30 do Tuxille Corp. $.33 MISCELLANEOUS

Entertainment 17.70 Yangiste (0) 6.63

But what seems most missed Britain is the catering for a huge private label" manufac-

well FIOW turing vogue, ganised by Jupanese exporters,

From

cameras to cleaners

commodity uny available in mass production for

any American buyers lebel as his own. This Britain has never touched.

Mr G. A. Gauerke, director of the German-American Chani- ber of Commerce, claims that of crockery German exports into the United States are now the on a better footing than British.

· "Germany takes more trouble in finding out what crockery is wanted in the United States," he said.-London Express Ser- vice.

Yangisze (N) 4.90

sen

3.38

1.57 bid

3.04 notulmal

3.44

3.43

343

September

Cibar

3.43 namal

3.59

Contract No. C

July September November

BNI bid

The Comigliano Mill has the March (1054)

of having May increased! Italy's national July

September in a sense trod the November

7

5.92

5.57

5.02 nominal

four sugar

5.17

New York ex-dock) 5.90

World number closed 2 to 3 points lower with sales of 361 contracts,

lodny, when

hen Inspecting the Spot cents per ib. c.f.f.. impressively spacious, sun and nir-filled work shops, bordering

the Port directly

of Genon, Italy's Number One.

The Mediterranean had lapped

Domestic number six futures

a small strip of sandy beach closed one point lower to one und point higher with sales of 82 in bygone days the playground contracts.

until

of Genon's aristocracy

June 1950 when work was begun.

Dealers

the attributed In the world futures trade selling. scattering pointed They - Little

When, last September, foundation casiness work was completed, the beach

out

Germany

as well as a rather ugly! bought 4,300 tons of Cuban- 31 castle nearby fund disappeared.

raws at a price equivalent to the During intervening months

8.55 around rock one million tons of sand,

f.o.b., compared and rubble had been poured onto

price of as far spot the sea's rocky bottom, as far pound yesterday.

The domestic with

2000 5.41

1000

3000 0.63 4000 vr 5,70 3000 0.70 1600 5.00

down as 210 feet deep to reclaim industrial edged

an really situated

area of about 100 acres,

a stone dyke, and protected by 114 miles long and two-fiths of a mile from the old shore.

U, S. ENGINEERS Now "Begin Production Day, often announced and as often One of postponed, is at hand.

the mill's two Marlin blast furnaces (750 tons per day each) is approaching the end of its one-month warming up process; the second monster will go into

"MONKAY" "SILVERSANDAL"

"MEKONG"

.Keetung-ja July

Hongkong

For

23-21 July

29 August

Заран Japan

Hongkong

För

13 July

..Kretung 2 Augant 4 August .Keelung-18 August 20 August

3 October

"COURSEULLES. Keelung 1 deleber

+

↑ Saigon. Marseilles, Algiers, Oran, Tangiers. Cusablanen, Le Havre, Antwerp, Rotterdam & Dunkirk. Subject to change without notice."

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO:

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

NEXT SAILINGS

13. V.

"CHASTINE MAERSK“

July

30

m.v. TABIS MAERBK” 1.V. "MAREN MAERSK”

Aug. AH

2

. ARRIVALS FROM U.S.A. m.v. "TREIN MAERSK“

July

10

m.v.

"MAREN MAERSK"

July AUG.

.14

*

1.v. "OLVE MAERIK"

For Freight and Further Particulars please apply to:---

AGENTS:

JEBSEN & CO.

Pedder Building.

Tel. Nos. 38066-9

Chinese Freight Booking Office

27, Connaught Road, C..

Tel. 20461

Daten and rotation subject to change without notice,

At tiberty to proceed vla other ports to load/dischargÓ ERTED.

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 Salis

July 18 from Manila, July 17 for

"REBEVERETT"

cents per

pound, with a world 3.50 cents

a

Arrives Salla

raw

market, was limited oltering, held at 6.45 cents

pound with altributed in the steadiness part to the fact that Philippine shipments have declined sub- stantially, relieving pressure/ United Press.

London-Foreign Exchange

The Rubber Operation before the end of the New York

Markets

Singaport, July 7. Prices of rubber futures closed

Grain Prices today as follows:

In Chicago

In contrast the Government- controlled Anglo-Iranian cern distributes little more than one-fifth of its profits, and the Shell company only one-sixth.

British, oll men have plenty

for this state of excuses affairs. They point out, quite rightly, that United States all companies are much better. treated regarding taxation, and as follows:- that fast write-offs allow more profits to be paid out in divi-

Spot dends.

British companies have also September

to face a much bigger pro- March 1934 portionate capital expenditure May 1954

hac

Chiengu, July 7. Prices of graina elcsed today "Wheat (No. 2 red. per bushel

In cents),

1084S 109/

July

December

in cents)

208-1

2011-1

2:394-114

since the war. The ten-fold Com (No. 2, yellow, per bushel boost in this country's refinery capacity, for example, has cost po

July £100 September the industry well over

Decriber million.

Replacing old tanker tennago March 1054

May on'd sdding another 2,000,000

17

20342-10 142H

3401

140-147

No. rubber, per Ib.

July

August

*September

03-60]

799-5300

No. 2 rubber, per tb, Judy 6

Nu. 3 rubber, per ib. July 0135-0175

No. 4 rubber, per 1b. July 60-1

Spot rubber, intrated

Blanket crete

No. pale trepe

57-58 72-70

After opening with casiness the marke steadied later on trade and factory buying with sellers reluctant.-United Press.

LONDON MARKET

Lendon, July 7. Prices of rubber futures closed today as follows:-

No. 1 rubber, in pence

per ib.

August

September

October/December

January/March April/June

Montreal year.

Amsterdam the Brussels The blueprint of Cornigliano Mill was planned by Oslo

Zurich American engineers. The McKee | ficutsche Mark Company provided three batteries Copenhagen of 20 coke ovens each; also six Parts

Stock hatm open hearth furnaces of 183 tons each. The first is ready for

Blocked Mark.

Landon, July 7.

2.81 0/10-28 11/16 2.70-2.7031 10.38-10.5 193.71 % -1,3009315

39.5922-1930 12.18-12.18!

Singapore, Fering, Rangoon & Calcutta.

July 20 from Singapore,

Kobe July 27 for

& Yokohama,

(Accepting care for transhipment Kobe/Pusan and Kohe/Okinawa)

EVERETT STAR LINE

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

"THAI"

Arrives Salls

July 11 from Takno

Juty 12 for Singapore, Port Swelton- Colombo, ham, Madros, Bombay, Karachi, Khor-

Basrahy

ramskar, Bahrein,

"STAR ARCTURUS”

980-98035

14.51-14.62

United Press.

Sails

M.V. "FELIX ROUSSEL”

WILL SAIL FOR

YOKOHAMA and KOBE

COHAMA

Saturday, 11th July, 1953, at Noon EMBARKATION:

10-19 BAGGAGE: ·

2032-1914 1915-154

1945-29-13

ID P

30%-194

Rye (price per bushel in cents).The market was steadier after

tons to Britain's tanker Beuth Zuly the past seven years has prob-September ably cost nearly another £200 million.

Roybeans (price per bushel in Apot to July

| August,

cents).

$249

quietness with No. 1 RSS quoted 23016 at 19% Unlett Press.

NEW YORK MARKET

Now York; July 7. 270 nom. The point of Interest

27214

Prices of rubber futures closed De follows:- shareholders in the British com- September

2014-12

23.10 bid 285-2513 July panies is that this huge capital November

26814 September

23.00 bld expenditure programme should January 1854”

201 now be starling to tall off. March 1954

Harley-price per bushel in cents). Providing profits are maintain- Bpot

130-100 cd-that is really the big query New York flour-per 100 lb. sack | May

cash 12.53 nom-United Prons. avaliable for dividends.

Exchange Rates there should be more

December March (1954)

|July

29.60 23.40

30 bld points

Business was done in the local unofficial

thu should be raised. Having seen market Exchange moming at the following rates:

millions of their money put 15M back into the industry. Inves Japan Indonesian guiders (per 1001 20.40 tors are entitled to some rc

If there is, then payments JAPANESE BONDS higher with sales of three ebb

US dollar ther. $1)"

0.02573

Sterling noto iper £1)

Stam ticals (per 100)

Singapore (Siralis)

FIC plastres (per 100)

ward for their palience.-Lon-consol Eden Express Service,

Futures closed 10 to 15

tracts. Dehlvis said there was some manufacturer buying. They part to attributed the rise In covering against the late arrival ong boat carrying rubber. — United Iress.

Londen, July 1. Bonds "A" (48. of 2009) 7

13" (52 05 1910)

ba, of 1907 183 (519, 1990), 20of

-United Prem.

Passengers are requested to board the vessel between 9 and 11 a.m. on Saturday, 11th July.

Baggage room, hold and cabin luggage will be registered at the Kowloon Godowns, Godown No. 50 (No. 2 Gate, Canton Road entrance) from 9 a.m. to noon, and from 2 to 5 p.m. on Friday, 10th July,

CABIN BAGGAGE: cannot be accepted on board before embarkation time. Passengers will therefore have to collect their baggage from the godown between 9 and 11 a.m. during which period cabin baggage may also be re- gistered.

Passengers are requested to note that ALL BAGGAGE must be registered as prescribed above.

Compagnio Dos Messagorios Maritimos

Queen's Building.

Tel: 26651.

Arrives

July 22 from Singapore July 23 for Naha & Japan (Accepting cargo for transhipment Kobe/Fusan and Kobe/Okinawa)

&

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telophone 31206. Chinoto Department: Talophone 28293.

BUSINESS

REGULATION

ORDINANCE 1952

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