1953-07-24 — Page 9

1

MESSAGERIES

Queen's Bldg.

Duiwards

M

THE CHINA ` MAIL," FRIDAY, JULY 24, 1953.

MARITIMES HONGKONG New Canadian Projects Give Advice To

Tel: 28681,

M

PASSENGER/FREIGHT SERVICE

Leayes MacETLİPS

"LA MARSEILLAISE” #alled

"VIETNAMI"

"CAMBODGE"

Homewarde

*VIETNAM"

.......22 August

"CAMBODGE"

...28 Aug.

IIVNEN DIE

2- AUE.

Т

"FELIX ROUSSEL" 25 July

"LA MARSEILLAISE" 4 August

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

FREIGHT SERVICE

SHARE MARKET

(From Our Correspondent)

done on the Stock

Exchange this morning amaz ed ja $630,071.80, Hogg pyncOS and the morning'a IPANA- nctiona:--

BHANER, DUYERS SELLERS BALESM

****** Balled

D-11 AUR.

Balgon Yokohama

31 July

Legyes RogzkORE

· Das Afpreeley VH

24. Aug.

* Manila

.27 Aug.

Balgon

14 Sept.

Balgon

20 Rept.

Falgon

RANKS

Ilank.

East Ma

1

Hongkong

For

INSURANCES

215

24 July

Japan

10 010

31 Angus

HK Fire

145

Hongkong

For

SHIPPING

Ala Nav

..

14

2000 m 116

t

DOCKS, ETC.

Ontwards

Leaves

"MEKONG"

Europe-Balled

"ODURSEULLES"

..Europe-Belted

Konswarde

LOATCA

"SILVERSANDAL”

"MEKONG"

"COURSEULLES”

..epfung-1 August 4 August

B

asdır

Keelung is August 20 August

Oplader ....Beglung.. 4 claber Saigon, Marsailles, Algiers, Oran, Tanglers, Casablance,

Le Havre, Antwerp, Rotterdam & Dunkiric Bubject to change without notice.

M.V. "FELIX ROUSSEL"

will gail for

MANILA, ŠAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ, PORT-SAID

on

Saturday, 25th July 1953 at NOON

EMBARKATION:

BAGGAGE:

Passengers are requested to board the vessel between 9 and 11 a.m. on Saturday, 25th July,

Canton

Verson...

|

An Opportunity To British Contractors

The great project for deepening the St Lawrence River to link the Great Lakes with the Atlantic for ocean-going ships and for harnessing 1000 1010 200 1999 the papids to provide hydro-electric power for both Canada and the United States is now, after 60 years of Canadian-American negotiation, almost certain to be put in hand.

101

Whorf .. 151⁄2 Dodie...... 31.00 00021.70 Provident.. 13.10 13.30 2000 @ 13,20 Shat Dock Wheolock 3.00 3.05 900 a 16 1200$ 0.00

LAND, ETC.

HK Hotel .. 8.10 8.20 1500 18 HK Land .. 0832 0214 70003 S'tal Land 1.874, 38ð

UTILITIES

Tra

23.10 26.30

6:10

20.20 23.30

P. Tram (0) 41 Biar Ferry

C. Light (0) 1331⁄2 12.00

C. Light (N) 0.05

.Electric

*Telephone

INDUSTRIALS

128

0.00

● 27,30 11:30

!

A

Canada has declared-and confirmed by statute-her readiness to construct the whole of the Seaway itself in each of the reaches where the cxlating channel is inadequate, not only in the purely Canadian sections between Montreal and Lake St Francis but in the Canadian-American boundary section between Cornwall and Iroquois.

The signs are that she will in fact do this on her own. In the boundary reach (that is, the "International Rapids section") the Ontarip Power Com- mission and the designated United States authority presumably the City of New York Power Authority will undertako jointly the provision of hydro- olectric power plants developing some 2,200,000 h.p.

-

for

The start waite now only onĮment of businesses even, where ] approval by the United States prospects might be considered Government of the appropriate uncertain, cnd conftructors Layy authority on the American side particular have been allowed to and the necessary subsequent set up offices in Canada and pay tegal formalities.

the preliminary spade work. In connection with the St Laxe project, profiminary examinations have been made on the spot on behalf of the Export Group of Constructional Indus- tries.

1000 of 22

1700 of 22.10

Cement ... 69.00 10.00

Hope

550 > 15.00 200 & 181 500 0 10

Datry

Watson

L.

32.80 23 400 g 22.50 4500 2200 24.20 24.40 1000 24.50 Crawford 242420

Baggage room, hold and cabin STORES, ETC. 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 5 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

Tel: 26051

EVERETT LINES

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

"REBEVERETT"

Arrives Sails

July 31 from Singapore. Aug. 1 for

"LENEVERETT”

Arrives Saila

Kola & Yokohama,

Aug. 3 from Manila, Aug. 4 for Singapore,

Rangoon

Accepting cargo Yqr transblyment Kobe/l'usan and Kobe/Okinawa)

Penang, Coleuita.

EVERETT STAR LINE

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

“LAQ"

Arrives Solls

July 28 from Japan,

July 29

for Singapore, Fort Swetten- ham, Penang,

Madras,

Colombo, Bombay, Karachi, Khorramshahr, Basrah Bahréin.

“STAR ALCYONE”

Arrives Salis

Aug. 21 from Singapore. Aug. 22 for Naha & Japan.

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

St

EVERETT STEAMSHIP. CORPORATION S/A Queen's Building, Telephone 31206. Chinese Department: Telephone 28293.

BUSINESS REGULATION

ORDINANCE · 1952

Coples 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

Triangular

Barring accidents, the con-

tracts for the hydro-electric

power

The Tore Seaway

New York Sugar Market

New York, July 23.

World No. 4• futures closed one to three points lower with sales of 276 contracts,

Reallaing pressure caused the. lower trend in July, enntracts, while domestle sleiverles ffected the 100,000eton Incredia in the UB sucar-marketing quoin, announced overnight. Futures prices closed as follows: Contract No. 4 (world) September October January (1954)

March

May

3.00

3.09 1.59 nom. 5.33 bid 3.83 hid

July

354 hid

Beptember

3.34 bid

Spot fcents per lb. fo.b.

'Cuba)

3.40

Contract No. 8

September

8.00

November

January (19341

5.00

1,80

May

8.01 nom.

July

5.74 rom.

September

3.00 asked

November

Spot treats per lb. cit.

NY ex-duckj

5.00

3,03

United Press.

March

Germany's E.P.U. Surplus Likely

To Continue

By Sydney S. Gampoll Routor's 'Financial Editor Ending of France's EPU deficits by one means or another will not necessarily end Ger- many's EPU surpluses. Against France's. Juge deficit of $75 million, Germany had a surplus of 53 million and Britain a surplus of only $4 million, Yet Britain might be more vulnerable than Germany to a change on the French side.

scheme will start to be put out to

tendor carly next year. Action on this part of the plan is urgent, since the Ontario Power Commission will have to

JOINT PROJECT plan more therma! stations if

the hydro-electric Seven big contracting dim scheme is not sanctioned by the have combined to establish a Boginning of nxt year.

Joint Canadian office, and some COTTONS

Tenders for the deepening of others have opened up, or are Eno

2.55

the channel 1000 3.00

to provide the about to open up, en their own. Texule Corp. 6.70 8.80 4000 0 0%

Seaway will

ay will probably be invited MISCELLANEOUS

some time during 1055. helped this may approach by Yangiaze ... 5.75

This is a project to stir the being spectacular enough to Imagination. It is the realisation tract general interest. of a dream which is a century

But it is not of course possible old but has been frustrated time for finns to go straight into con and again by the controversies tencts at this ring- the St and pressures Inseparable from Lavronge contracts W81 probably the diplomatic problems of an be given out in units of about international waterway

and $30min virgin territory. from the exposure of existing Experience must be gained on transport interests to possible smaller spale work of the technis damage.

eal, commercial and labour prob PURPOSE ACHIEVED

lams of the Canoding industry. Now, though the final

For large contracts, partnership sitrafice is still Incking, Cana-with Canadian dams will pre-centrate the German surplus diamonds, even though these are dinn determination

ably be essential, :

The Seaway may provide the have achieved its purpose.

The cost at present prices has impetus and unique opportuni

આ પાના been put at various ligures from af is owEL

But who important objective is $700m, upwards.

have that British flums should be able whio studied the matter from to establish their positing in

τα Canada

that they contracting angle bellevo the total contracts involved will participate in Canadian develop stot fall far short of $1,000m, of fment at large. There is much the Bag, and there is every res- contractor, a conce Bon for Britain to sock a greater participation in Canadian deve- lopment than she has had in the

11

:

· Deal Probable

On

Some of those

05-

spons to

that

Mugh of Germany's surplus (Free gold is sold only for may be lostependent of France's dollars. deficit: the effect of the trane's weakuess may be only to con The drop in sales of gem

Tin Producers

an

Formation Of Pool To Raise Prices Malayan tin producorn aro halig urged to form their own buffer tin pool in effort to raise prices and many Chineso provent gravel-pump producers bo- Ing forced out of production, The Straits Times is carry- ing an article advocating such a move and urging producers, Federation and the Amelters

Together

- und

to

་ ༀ་

to consider

agreement

Fuggestion as prospects for an international

none too bright.

In any

were

дго

case, it agreement reached it

months before

would take

in-

the pool could function. In the meantime; the damage to the Malayan dustry, and economy could disastrous.

bo

The Singapore tin price, the

article continues, is determined solely by two factors. (1) The amount of Un available for sple and offered and (2) tho amount of bids and quantities wanted by purchasers.

OBVIOUS SOLUTION

An obvious solution to the present downtrend would be to withhold from the market, Bay, half

production of Malaya's which could be made Into pool, from which din could be. automatically released by * price celling determined by

prk

the

selves,"

Malayart producers them-

It is suggested that the pool. should be finance by the cann producers, who have cash resources, and that the Govern ment should assist the small. producer by advancing suma which would be recoverable when the tin was sold.

A

similar arrangement was made by the Government in advancing rehabilitation penditure.

It is thought that this pool. could function without pro- Judice to the formation of an international pool, which could take over the pool if and when International agreement

an

were reached.

It granted, this will be the firs which about throc-fifths would trade that follows the general situation seems likely to do as gold. At presence, and immediate

Tokyo, July 23. The Ministry of International Trade and Industry will probably authorise the Fuli Shuil Tradin Company to do a triangulan trade which $3,000,000 worth of Canadian soybean cake will be

France exportest to

open account, a trade report split today. export by Japan of dollar goods to an open account aren.

The Japanese company will get four per cent commission on the deal. Trade cheles under stood that the Japanese Govern- mans authorisation for Canadian saybans would be conditional to Fuji Shoji's agreement to export castor oil directly to France, a Losing proposition.

Half of the four per cent com- mission cecruing from the tri- for angular trade svould

the castor recouping loss from oil export-France-Presso.

The Rubber

Markets

Singapore, July 23, The rubber market opened slightly lower, and remained fairly steady buf quiet throughout the day.

Closing futures prices:- No. 1 As per Ib.

July August Sept

0531-0012 00-00!? unquoted No. 2 rubber per R. July 041-04/5 No. 3 rubber per 16, July 011-02 No. 4 rubber per ib. July 60-60% Spol rubber unhaled

Blanket crepsi

No. 1 pale stopa ...

73440 United Pres. LONDON MARHET

London, July 23.

The rubber market was quiet but demand increased in no.

I RSS up 1/16 10.10-5/16 pence per lb. Prices word!-

Spol No. 1 NSA

Edtlement

Business

No. 1 ct basis

In general markol

10-191

be attributable to the hydro- electric scheme and two-fifth

It followed

instead of its often cold for currencies other against France

among the EPU than dollars, is further evidence being spread

of the waning or satlety of the countries as a whole.

hoarding appolite. her surplus, but has ono debtor

In other words, Germany has |

Another hoardable medium. instead of several. No forti-platinum, may be tested it the coming development - libera-resumed Russian offers dovolen

or even if they do noi. Only à

The F. M. S, Chamber of lisation of German imports, re-

Mines, the All-Malaya Chinese sumption of German debt pay-few years ago it was difficult to ments, or redressing of France's sell platinum at the same price Mining Association and tha

is moro

Government are urged to take more than slow the tempo

three times, the

action - as Many accumulation

the great expansion of mines though

are now closing down Germany's

Its Industrial demand is

and others will be forced cut doubted, It scarcely seems an forem exchange.

Her balance of payments may adequate explanation for

of production if the price bo even less vulnerable than wide a price disparity.

falls to recover In the near future. The efforts of United Kingdom that of Australia who, after a establish themselves favourable swing of £600

The Withal, the price of free gold

article dismisses the initially in advance of the Spo-million a year in her balance of has managed to rally slightly suggestion that such a pool way and in advance of so many trade (comparing the year end- from its low point of 30.85 would merely other great development schernes ed June, 1083, with the pre- dollars at the beginning of July. that foam ahead deserve to be

possible way.-Tlie" "Times.

past.

to the Seaway.

The Scoway, by linking trans. atlantic ports with the industrial areas of the Great Lakes, may have far-reaching effects H firms to trade routes. For the moment Britain's prior interest is in the constructional proj

project itself. Yot the Sonway only one of

many vast deda,” schemes (helped and encouraged in every.

going on

on in

During the past six years, for example, same $1,300m. has been spent on developing the production, retning, and trans- port of oil, and the rate of development is still heroining. A $500m, hydro-electric and metallurgical scheme is in pro-

Kitimat Pre In the

area of

British Columbia.

ONLY SMALL PART

A company capitalised

at,

$225m. is opening up the iron

of Northern Quebec

ore depudor.

Incentive To Jap Exporters

of of

than

to

vious 12 months) has taken no more of EL chance than Liberalise Imports by million, bringing liberalisation

her

£40 total

to about £140

of an

eventual de

MORE TO IT?

un-

Ба

The rally may be no more than a monthly cycle: the price tends to be at its lowest at the end of each month, on the ove

of the South African monthly

of the French

fraud allocation, and to rally o triflo

have ceased to be much help in mid-month

to the free gold market. Ons

some

reason is that the frane has. But there may be a littlo come to be regarded as a a more to it than that, Middle special caso, mainly dependent Eastern and

other de- оть French Interjal. reforms, mands pre mild to have revived and not as a.general indication, slightly, and sentiment is iesa of the weakness of paper cur- depressed.

New System Being icons a whole.

Discussed

Tokyo, July 23,

The Japanese Government is planning to adopt a new preferred foreign currency system in mid-August or early September.

HIGHLY IMPORTANT

At such prices as $30.35 or $30.40 or moderately higher, there are supporting factors. The special case should be

The very low premium over highly important for the free the official prico

of $35 limits gold market, since in recent the possible loss on an "Invest- years smuggling into France ment" in from gold. has been the biggest of the

threo min demand outlots

and

Even so, as a recent review by the Institute of International

of the

"Springs of Affairs Canadian Power" put it these bi

developments account for only a small part of the present investment boom in Canado. The rate of new development of

The creasingly respectable all kinds, large and small, must

(the other two boing the Far volume of opinion in favour of be proportionately greater

East, and the Middle East for raising the official price creptes in Conada than anywhere in the

India The Ministry of Finance and

and an impression that there is s world.

such limit on the possible gain. of Traile and the Ministry Much of this development Industry are now holding talks

present it is almost in- however, long" It"may" bo in like the Seaway, demands first on the designation of goods to utile gold from the world mar cannot easily have a sustained Paris was taking coming. At present free gold and foremost civil engineering be imported with the funds work.

he

.

At

operative.

to

Bank

the

LONDON TIN MARKET

The contracts will go in the specialy allocated to exporters let even when France had no demand: but it can and some

at times does get technically over- an an incentive under the new government. The first instance to the civil con-

France conducts internal sold-Router. system tractors, who in turn will place

smoothing operations which The Government decided that make the Paris gold market tome of the largest orders for

switch could be made from

more stable. It runs a sort of cupplies and equipment.

system following Britain has not hitherto parti-the prescri

bur

by buying when Estals crepe August thick cited to any significant extent the recent visit by an Inter-market is

In Canadian development work nati

ational Monetary Fund official Paris demand revives it is sup- depressed. When the in this way. And it is natural who came here to make a check plied by tho Bank of to wander what chances there on the Japanese system.

France reselling its previous The IME is opposed to the purchases, without relieving tha tering this dificult of entering may be of but

frutiful

extra foreign currency alloca-pressure on the world market

London, July 23, market.

The Un market opened irrev strengthening Angle-tions method because it is sub- In canadian economic connections stantially a double exchange rate gold market tends to come under 28%. to thereby

theso conditions the tree gularly firmer with spot up further. It is only once the system.

£.585%, and three war that, for

thin

1912-1921

192-10

1915-1914

1 to 13 points higher with cales of 18, contracts. Dealors cover-

United Press. NEW YORK MARKET

New York, July 23. Rubbar futures today closed

export

and

ing near the close in a thin mare ing has becomin, contract... According to the plans being pressure. Offers of a large part months up £ 8% to

ket accounted for the rise in

futures

Dullness persisted in the out- sitio market. Shipment

export adustry.

7

£694.

2 to 605

300.ta 33335 --United Press,

the new system will of the world's gold output are Turnover was 150 tons of which an important

be named the Special Foreign continuous, while the deraand is 80 tons were for cash.

sporadic and often stagnant A CLOSED BOOK Currency Allocation System or The Far East has been trying The closing prices werd o Though in certain specialised the Import Exchringe Special tile, as offer

the situation there is follows, viewed optimistically despite De Spot in, buyers ings were considered high and spheres, such as bridge building, Allocation System factory dealer buying thterest the United Kingdom tua for

Syngman, Rheo. Bombay has Bellers *. - NO LUXURIES, “ interation) Spot held a heading

It will be applied to traders absorptive power and a very number remained at.minimum.

over the Three months it, No. 1 RSS were qupted at 241% positions, up to 1830 gene:mi alvil

premium

buyers spilara dollar area but also to the pound world market, but it is lagulated | cents per lb. Futures prices were ring work was coined exporting goods not only to the workably

Largely to the hama market, as follows:-

Since tifa war a lange business and open account areas while from the world

market by puriners

Bettlement Sept.

has been built up by many Bri- the current system applies to seasonal and currency Inctors: Dtc.

fish firms in mont parts of the thon exporting goods to the the prevailing winds, and the Communyealth. But Canada dollar area alone stoppage of the previous eystani Exporters under the new of financing the Imports" by way. remained a closed boolt. To establish a contracting system will be authorised to fof converling parcels of rupee business in my country requles use. 10 per cent at their export notes into dollars in the Middle a considerable preliminary outlay: Income for importa

Essieru fred markets, with undertale promacts of re- Goods which can be imported tum, and huharto do United with the funds allocator under Reelt able to allow emocessary controlled. local cows, at collars to the cast upon

March 194

May

July

Bepl

29.60 24.40 bld palla bla 23.00 bld 23.00 bla xaled nom,

Inited Press,

4

My

Exchange Rates do Government has found the system, however, will, be

Na luxury goods will be allow ls the watershy there has bears A

i Under the present, Bystem. Moro recorly. 4.0095 154% change of, heart. Though re-exporters are allowed to use from

questa for dollars ore scru:Inised Ave to 10 per cent of their ex with extreme care, dollars have port income for imports been provided for the devolop France-Presso.

Businem was done in the unamcial exchange, market morning at the following ratne:: UB., dollar, iner 41)” Hicriing nots iper 41) Indonesian (guiidge: (pae: 300) 04

33.50

Blam ticals (per 100) Singapore (Biralta).

#15 plastrès (per 100).

1.83

**

SUGAR RECORD

-Washington, July 22. Hawali will produce a record

drive customers. 10 ollier markets by saying that the only market for Straits tin is Singapore, and consumers who want and need Straits in Must get it directly or directly from Malaya.

It

OTHER SUPPLIES

in w

that no

the

Auggested America has forward tracts; with Indonesia, Belgian Congo and Brazil, a

of their production, good part is not available for marketing elsewhere and consumers there

must come to Singapara for their requirements.

fore

Malaya has no forward sales as by general agreement all. producers sell their total pros. duction to two Malayan smalters,

Straits Trading

the

Company and Eastern Smelting.

London Foreign Exchange

New York

Montreal Amsterdam Brummels Oslo Zurich .Capenhaggets Parts

Stockholm Deutsche Mark

Blocked Mark ..

London, July (23.

2810/10-381 21/10 1.79 1 10.5735-10.30% 100.03

10,3-10.209S

12.34-10.343 D75-975

14.5055-14B1 21.0914-11.2034 10.70-10.20

United Press.

JAPANESE BONDS

London, July 23.

Japanese bands

“A” (48., at 1000)

"D" (65.

of 1010)

"B" (45.

71

CH (53.

of 1907)

122

of 1024)

100%

VE" (51⁄2s. of 1030117 Consols

144.

60%

-United Proes.

NY Stock Exchanga

New York, July 23,

Dow Jones closing averages on Wall Street were as follows

30 Industrials vienna: 269,84. 20 Hats... 18 Utilities

60 Stockó 40.Bontis

194.08

48.70

105.87 94.32 Corpm. Prices Index 2):159,00

United Prem

N.Y. Cotton Futures

-Now York, July) 28,29, *Prices of colton futures clound

34.10 note

LITTLE APPETITK

| 1,078,000 short tons of sugar, this So the unabated supply of the Hawall Sugar Planters Asso-today as follową.

year, the Washington offler -of tree gold finds little hoarding clation announced today appetite. Some hoarders, hava

:

enough, Olbers simply cannot. After adjusting for Its 1952 obtain additional supplies by carryover and tamiloriai neodesys either legitimato or illegitimate the HSPA said Hawal will wind channels. Others again cannot up the your with 22.000 tors of DN for will not find the dollars, över-quola sugar.—United Press.

54.19 nocle

33.44 FOU1

United, Press,