1953-07-22 — Page 9

MESSAGERIES.

P.O. Box 69.

Queen's Bldg,

Outwards

M

THE CHINA MAIL, WEDNESDAY, JULY 22,' 1953.

MARITIMES Franc Rumours Dying Negotiations

Tel: 20851.

M

PASSENGER/FREIGHT SERVICE

Ceaven Marnellien

"LA MARSEILLAISE" Billed

*VIETNAM*

"CAMBODue"

Homeward

"FELIX ROUSSEL"

"LA MARSEILLAIS

"VIETNAMTM"

Hongkong

*** 2-4 Aus.

311 Aug.

Fot Salon Tokohama

Justy

ZÓ AUK.

Leaves Bangkong.

"Due Marseilen

Va

25 Aug.

Manila

27 Aug.

Nalgon

14. Rept.

20 Sept.

Saigon xicom

August

....... 12 ARTIAL

"CAMBODGE" - ... Lug.

vin Marseilles, to all Mediterranean & West-Africa ports. via Djibouti to Madagascar,

Outwards

"MEKONG"

"COURSEULLES"

Homewards

"SILVERSANDAL"

"MEKONG"

"COURSEULLES”

FREIGHT SERVICE

Lenver

LoraponSalled

Europe-Halled

Leaven

Japan Japan

Ibungkang

For

21.24 July

21 August

Jongkong

for

!

.1

• Keelung-2 August (Angui Keelung 19 August 25 August ....Keelung-- 4 Elctober

October

Balgon, Marseilles, Algiers, Oran, Tangiers, Casablanca,

Le Havre, Antwerp, Rotterdam & Dunkirk," Subject to change without notice,

M.V. "FELIX ROUSSEL"

will sail for

MANILA, SAIGON, SINGAPORE; COLOMBO, DJIBOUTI, SUEZ, PORT-SAİD

on

Saturday, 25th July 1953 at NOON EMBARKATION: · Passengers are requested to board the vessel between 9 and 11 a.m. on Saturday, 25th July.

BAGGAGE:

Baggage room, hold and cabin luggage have to 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 6 p.m. on Friday, 24th 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 re- gistered as prescribed above.

Compagnie Des Messageries Maritimes Queen's Building -

EVERETT

Tel: 26651

LINES

EVERETT ORIENT LINE

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

"REBEVERETT''

Arrives

Sally

July 29 from Singapore,

July 20 for Kobe & Yokohama,

'LENEVERETT"

Arrives Sails

from Manila, Aug. 3 Aug. 4 fur Slugapore, Penang,

Rongoon

Calcultu, &

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

EVERETT STAR LINE

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

Arrives Sails

July 28 from Japan,

July 20 for Singapore, Pork Swetten- ham, Penang, Madras, Colombo, Bombay, Karachi, Khorramshahr, Basrah & Bahrein.

"STAR ALCYONE”

Arrives

- Sails

Aug, 21 from Singapore, Aug. 22 for Noha & Japan.

(Acceptlug carro for transhipment Kobe/Pusan and Kobe/Okinawa)

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

Down: Devaluation Not Likely At Present

Imports From Japan

No Approach Made By Tokyo

(By Sydney S. Gampall,. Reuter's Financial Editor)

Although the forward discounts on the French franc remain ominously large, rumours of early devaluation have remarkably died down,

For internal political reasons the Laniel Government is expected to last at least until the autumn. It is regarded as a caretaker govern- ment, whose main job will be to keep things going rather than to make major changes, let alone so drastic a change as devaluation.

Yet this is not certain. A couple of months ago the feeling in informed quarters outside France was that as soon as there was a government strong enough to do anything, it would do a devaluation,

п

but

Аз

London, July 21. The Japanese Government has made no official ap-

M. Laniel's government does That strengthens the rate proach to the United King-

not quality a strong on. It wonkens the tranc-just dom for a new series of But there is always a chance Sterling's rate was strengthened trade talks aimed at easing] that it will prove Itself to bo but Sterling itself weakened

so, and in any British restrictions on im- recent. Iden outride France was to

more when the Bank of England used CRIO

have to buy Sterling by ports from Japan.

"unknown" that some

might selling gold and dollars. become premier to Carry the This was stuted by a Treasury unpopularity of a devaluation,

following spokesman

reports whereafter some better known from Tokyo that the Minister premier

would perform the of International Trade and needed reforms. On his In- Industry, Mr Okano, had re-stallation, M. Laniel certainly quested a meeting.

qualified as an unknown. British officials, however, ex-

The French rate is not the same pressed rurprise that such a

thing as the trane. Of Jala,

the French authorities request should be contemplated at this time. It is txarely three have consistently had to sup- market, months since Britain authorised port the frane in the the colonies to step up their particularly by selling D-marks, imports from Japan as a means, ENG of arresting the Japan's Sterling reserves.

drain

on

Britain also agreed, following THE LATEST

tulks with Japanese officials in

permit Japan London, to

to raise short-term credit in tho 1ide London money market to her over the period until the relaxation of Colonial Import restrictions became Kully effective.

in view of these receat con- cessions, Treasury officials feel it is a little early for Japan to be planning a new approach to Britain.

But it is believed here that the Japanese Government may wish to discuss general trade matters affecting both countries soon as possible In view, Of the possibility of an early end

Korea. to the fighting

મ

NEW SITUATION

British officials point out that

a settlement in Korea would place the Japanese economy in serious

policies peril unless

to meet the were reorientated new situation."

the Japanese Government may now be look-

They believe

RUBBER

PRICES

London, July 21,

The rubber market was quiet after a little steady improve ment Number one RSS closed higher at 19% pence per ib. The closing rates were follows: Spot September August Business done at October/December January/Mareli April/June

1036-1919 1014-19 101-19

101

1094-1934

194-194 1924-10 United Press.

NEW YORK. BIARKET

In the upshot, France jost month had in EPU defelt of $57 million while Germany had an EPU surplus of $53 million.

Austria has ceased to be one of the EPU "wards" whose de Alclts are paid by the U.S.; France has become one.

CANNOT CONTINUE France's April and May EPU deficits were settled directly by Washington. If the ke applies

This

to the June deficit, Washington will have to pay Germany more than $50 million on account of aid to France in

single month.

cennot continue

In- definitely Or perhaps much longer. At a time when the U.S. Congress le clamouring for Rn early termination of all foreign aid, it verges

on the grotesque. Moreover, if France has a choone between de- valuation and deflation, defintion

seems impossible.

Even with Inflation and

weakness of the frane, there is persistent stagnation in general economic activity: deflation would aggravate it to a point which might be politically and socially disruptive.

Stalc ог con-

In recent months the and the Stale-owned trolled enterprises have touched off a new round of wage in- creases. Exports have been thanks

fairly well maintained,

lo subsidies and differential exchange rates which amount to New York, July 21, Rubber futures closed today | a devaluation of the frane for unchanged to 24 cinis Tower export purposes. The economic due to with sales of four contrasts. The stagnation is mainly contract and spot markets moved poor demand in the home mar- lower with the cables, and icet. Deflation might be the because of the continued manu-herole solution, but hardly ing ahead to this time and factory interest, although some practicable one.

Whatever M. Laniel might also to the end of the. Anglo- quarters supposed manufacturers Japanese Sterling

payments might begin looking over their prove himself to be, the men agrtement which has only an-aw material inventory position. behind him are forceful and other five months to run.

Spot number one HSS were his Finance Minister is energe quoted at 24 cents per pound. tic. In planning to seek a new meeting with Britain on trade Futures closings were as follows:

Japanese

Sept ministers questions,

doubt have no

Influenced ween by the Commonwealth Prime Ministers' recent decision to expand trade with non-dollar areas as a preliminary stage in their policy of freeing Imports as soon as possible, London Express Service.

JAPANESE

Dee.

March 1934

May

Jaly Sept.

23.50 bid 33.45 2320 bid 23.00 bid 21.00 bid 22.00 bid

United Press.

Small Losses

Registered

DYESTUFF On Wall St.

EXPORTS

New York, July 21, The stock market declined

losses agmin today but

small and there was a marked

·lack of selling pressure,

Only 1,015

QUITE-INSUFFICIENT -

He has had more success with the Assembly than was ex- pected, and his tenure of office will not necessarily be on sufferance: his Governmnet is supposed to be a provisional one, but there is a French say ing that it is only the pro- visional that lasts.

Yet

of his Gov- the power9 ernment seem quite insufficient to cure the deep-seated malady of France's finances.

will

For Purchase Of Sterling

Tokyo, July 21. Japaness newspapers ros porteil. —that Japan b negotiating for the purobaso of pound steelling with rea from the International Monetary Fund.

On the

thears that Japan's sterling shortage is