1953-07-30 — Page 9

MESSAGERIES

P.O. Box 43.

Queen's Midg.

Ontwarde

M

MARITIMES'].

Tel: 2003).

M

PASSENGER/FREIGHT SERVICE

Leaves Karsošies

"LA MARSEILLAISE" nalled

Hongkong

2-4 Abs.

For Saigon Yakima

*VIETNAM"

#äljed

9-11 Agg.

"CAMBODGE"

* Jнly

28 AVE.

Homewards

Leave Tingkang

Das Marcelites 'Vix

4

27 Aug.

Saigon

"VIETNAM"

.... 22 August

14 Sept.

Halgon

"CAMBODGE"

.... 28

Aug.

20 Nept.

Kaigen

"LA 'MARGFILLAISE" August

via Marseller to all Mediterranean & West Africo ports, vin Djibouil to Madažarear.

Onwarde

"COURSEULLES”

"AURAY"

RAQUADDY"

Homewards

"BILVERSANDAL“

"MEKONG"

"COURSEULLES"

"AURAY"

FREIGHT SERVICE

Dewyro

....Europe-Salles

Europe Salled Hamburg-25 Aug.

LAVED

..Keelung- 3 August

Подкопа

For

31 August

Japan

22 Sept.

2 Get.

Hongkong

Japan Japan

Far

4 August Keelung-19 August 20 August „Keelung-4 October 5 October Kerlung-22 Oct. - 24 fet.

† Saigon, Marsellies, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk. Subject to change without notice.

EVERETT LINES

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

J

"REBEVERETT"

Arrives Salls

July 31 from Singapore. Aug. 1

"LENEVERETT"

Arrives SJils

for Kube & Yokohama.

from Manik

THE CHINA MAIL, THURSDAY, JULY 30, 1953.

SHIPOWNERS PROTESTING Increasing Cost Of Ships In British Yards

HONGKONG

SHARE MARKET

(From Our Correspondent)

the Stock

Business' done on Exchange this morning amounted

to $343,314.80, Noon quotations

and the morning's transsekons

SULATES DUYERS SELLERS SALES 16 @ 1523

DANKS

H.H. Bank... 1520XD Kas Ana 151

INSURANCES

Canton

Unior

1.K. Fire

SHIPPING

_Asia_Nav....

DOCKS, ETC.

K. Wharf *Dock

Brovident

S'hal Dock

Wheelock

LAND, ETC.

I.K. Hotel

000 012

100

1.45

M

... 055 001 DOO POG

Some Cancellation Of Existing Contracts

The customers of the British shipbuilding in- dustry, the shipowners, British and foreign, have recently been protesting about the rising cost of new ships.

In some cases their protests have been backed by the cancellation of existing contracts.

This is an unfavourable environment for the ship.

building trade union's claim for an increase of soms 15

per cent in wages, for the days when shipowners were obliged to build replacements for war losses, perhaps. without meticulous regard for the cost, are necessarily

over.

ANOTHER

THIN DAY

Damper Thrown On Trade Hope

Tokyo, July 29. The Chairman of the Japan- Red China Trudo Promction Council, Kjonaight Yamamoto, declared today that the signing of the armistice in Kagen will not bring about the resumption of large-scale trade with Red China beoque it entirely de- pends on the post-ormistice political conference.

Me Yamamoto, who recently returned from a trip to Europe, Soviet Russia and Red China, said that in accepting Ameri- Act ald, ca's Mutual Security

agree on restricting Japan's trado with Red China.

IN COTTON Jopan should be careful tiot to

New, York,-July-20. Cotton trading today again proved to bʊ a klow affair.

Prices see-sawed narrowly on Apart from Japan, Britain's, Now the Immediate require-either side of the previous clore, principal competitors for shipments of Dutch shipowners have and at no time showed a de- building are on the continent of been practically satisfied, Dutch finite trend. Europe

The launching output shipbuilders have succeeded in Local realising in a thin market the

principal shipbuilding securing a good programme of closed the list on a reaction and countries for 1032 in shown in orders

ab final prices were off nine id ̧11 Finnish, points. for French, the accompanying table, com-Indoncalan und British owners, 400 41.18 pared with their output for 1930, for

New Orleans closed off ning. 4200 6.70 the last pre-war year for which specialised output of the

yards

21.60 22.10 500 4# 21,00

2500 ** 21.00

12.20

110 DR.70 3000 un 4.70

· S'hat Land......... 1.521⁄4μ 1,50 Humphreys

UTILITIES

10 COUN

10,70

+

Tiam ........ 34.00 23.20 1000 23

Prek Tram

(Old) ..... 4215

Penx fram

(New) 211s

the news strong

which have no important ship-for foreign tankers, mainly for on crops, and the private surveys

for example, apart from the 12 points. Traders found

smaller # 810 4500 ur 8.05 figures are available.

building dredgers, river nothing in R.K. Lund .. DOUG

lines. All these countries, except and harbour eratt, etc. Similarly, hough to get them off the side- the French yards have been able Norway, are. buliding ships for to affect the dwindling domestic wall for the Government report All hands appeared satised to export, not only to countries demand by socuring contracts building capacity of their own, the major oil companies. but also to other shipbuilding so, there are emply berths in countries. Ships for British 12.00

the French shipyards, which the 300 12.70 registry, for

build- example, ore Light (N) 5.00 5.70 2133 e coing in Japan, Germany and the ulders are only too anxious to

11. 27.30 27,40 100 27 Netherlands, and Britain

DEMAND DRYING UP 24 1000 v 21.80 building ships for most of these

countries cxcept Germany, Shipyards In Denmark have Japan and Italy. Of the ships so far been kept fully occupied launched in Germany last year, with domestic orders, apart from for example, no less than 53.3 occasional contracts for foreign

Star Forry

100

C. Light 101 12.50 12.70 13300 er

13.20

908 7 27,40

Electric

Telephone INDUSTRIALS

Coment

1000 19.40

Aug.

Rupe STONES, ETC.

17.00

Aux.

& for Singapore,

Rangoon

&

Penang, Calcutta,

Dairy

221 22.70 1700 2260

33 Go 23.00 400 G 23.90

Crawford

24.10

Ewo........ 3.63 2.70

(Accepting cargo for transhipment Kobe/Punan and Kobe/Okinawa)

EVERETT STÅR LINE

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

LAO

In Port Salls

Loading

July 31 for Singapore, Port Swetten--

ham, Penang, Madres, Colombo, Bombay, Karuchi, Khorramshahr, Basrah Bahrein.

"STAR ALCYONE”

Arrives Sails

Aug. 21 from Singapore.

Aug. 22 for Naho. & Japan.

(Accepting cargo for transhipment

Kobe/Pusan and Kobo/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A

'Queen's Building, Tolophane 31206. Chinoso Department: Telephone 28293.

PENINSULAR

SEPARABIT

Walion

Lane

COTTUNG

Textile Corp. 300 5.75

MISCELLANEOUS

Yangiate

Yangtze (N) !

ANOTHER

RALLY ON

WALL ST

stocks

in an

losses selling.

and

other

frage improvements, new

list of

U.K.

World total

Japan

Gerniany

Sweden

Netherlands

France

13

LAUNCHING OUTPUT-

(tona gros)

between now ផ Even August 10,

Most of the business appear- ed to originate among the along with a little locals routine buying by domestic mills and shippers.

Crop news was considere-1 favourable for normal development by the experts

plant

Tomorrow's mid-June parity price report is awaited with interest since it will be the Brial basla

for calculating the Government 1933-4 loan rate.

An interim minimum loan has been established at 32.70 cents per pound for middling 15/16 cotton based on a parity of 34.22 cents per lb.

If the June parity should go above the level, the new loon rate would be proportionately increased.- United Press.

1932

4,195,578 1.302.448

1938 3,033,593 3,030,273

071

441,720

480.707

450,349

285.901

Z39,945

213.541

47,200

Italy Denmark Norway

93,601

103,306

- 18#,430

24,654

Source: Lloyd's Register of shipping.

apol

Oct. Dec.

SO AS

have

脊

|

The

is suffering also from

are

signa

Prices of cotton future: closed today na follows:-

Oct.

34.50 om.

13,88

24.18

5443 nom. 343

33.56 nom. 8353 nom. Unked Peres.

NEW ORLEANS PRICES

New Orleans, July 29. Prices of cotton futures clored

Spot

33.14

24.08

3443

34.40 bid 34.24

23.70 bid

-United Presl

In Chicago

Chicago, July 20.-

Analys's of Kabutocho Japan's Wall Street, agreed to

FOREIGN EXCHANGES

Canada

IN N.Y.

Now York, July 20.

England-omics!

ре

unofficial

ay faizture 90-day falure New Zealand Australia South Africa Belgium

Denmark Franco German Heliang Italy Norway Portugal Stain sweden Switzerland.

....

03.01%

1.70-1.13

2.231 F100-4 2.0115/10

0200%

.1455

.0028

.2005

184

0910

luati

10200

343%

Afiadie Bat

2.30%)

Latin America Argentina

Brazi

olivia chilla

Egypt

Tran

Turkey"

day that despite the signing of Columba

Korean armistice, higher Cuba the

Mexim quotations may appear this

Peru autumn due to a possible ensy Uraatny money market.

Vahetuol

Far Eas

for the

4020

.1750

3280

300 you to US! -United PMI.

JAPANESE BONDS

They predict that Government India

Pakistan will begin to pay for more than

Hopakong 1 receives Erwin around tho Indonesia coming autumn as the result of Singapore the certain Dlet approval of the | Jam so-called "Inflational" national budget

present Rocol year,

They pointed out that traders tre pinning their hope on MSA aid,

Ior special proguremesit Korean rehabilitation, America's. guarantee on its spending Japan during the forthcoming two years and Japan'a tratta with Confols Red China-France-Presse,

10

London, July 29.

Japanese

bonds "A" (45.

"B" (45.

(65

HDS.

of 1800)

of 1010) 71% of 1907) 124 of 1024) 101 (38, of 1030) 145,

60-8/10

United Press.

Remarkable Feat Of Industry

In United States

The prodigious rise in American Industrial production was halted in March. Since then it has been maintained just below the peak peace. time level reached by the end of the first calendar quarter.

That in all conscience is a remarkable enough achievement. It means that the Americans have been steadily turning out one-tenth more goode, than in the same period a year ago.

1952 itself was a year of in- dustrial stagnation, in the United States; the volume of output then hotely reached the level of the previous year.

On the other hand, the weak- nesses in this picture are equally Impressive.

First, there

is

the CX-

In order And a record of treesdinarily rapid growth of that which is now Being witnessed, one has to go back to 1951, when the initial impact of the rearmament pigramme produced another 10 per cent -riso-in-Industrial-output.........

HIGH DEMAND Thus the problem

-American

Taking only instalment debt-- that is leaving aside tho pay- menila due on retall charge accounts the increase in the total obligations incurred by the buying public "It"the" past year is over 30 per cent."

Obviously they cannot, unleas there Is Home revolutionary change in the US. credit struc- ture, continue to mount at the

per cent of the tonnage was for owners, but sooner or later they March 1951 export. In Sweden the Aguro i will return fibly Into the May was 60.4 and in the United competitive field..

Nor- Judy Kingdom 31.8 per cent.

weglan industry, although it is Dec. New York, July 20.

being expanded, cannot hope to Industrials carried their

MODERN SHIPYARDS ---

satisfy even the minimum re- market leadership:

Most of the European shlp- **** through the

quirements of Norwegian ship- second session today, pacing yards, except those in Sweden,

OWNICTS; but Belgian shipyards, advance which were seriously damaged during on the contrary, aliqugh limited today as follows:- wiped out about half of the the war, Particularly those in capacity, must depend on

suffered in the past truce France, Holland and Germany export orders to keep going. Dec. on Dot, itself. The destruction was so Italy Industrials cloved 1.30 higher ins it was possible completely Simpty berths, despite the efforts July

thorough, in fact, that out of the

March 1051 on average as oils ran up a

afford Oct. point or more, and steels, motors to redesign the layout of the of the Government to

Anancial support to prospective Dec. install ta. and groups improved yards

new owners. machinery

to tako the

Everywhere there fullest possible advantage of Rails 46 cents in a long full profabrication methods of dem

the In Sweden, 100, demand for shipbuilding berths Grain Prices growth on a similar scale to consume indebtedness. Utilities were 24 cents higher, shipbuilding.

is drying up, and this means o The rise was achieved on amali where there was no war damage,

perlod of shipyards

Intense the volume, however-an even ono

been competition for the orders that milijon shares compared with reorganised on modern lines, Bo are going. In these circum= that the British shipyards, which stances the three vital factors 1,080,000 yesterday.

It was a continuation of the were also brought up to date are price, delivery and quality: recovery which

late youterday during and since the war, no and of these the most decisive Prices of rain closed today as pulled the list up sharply be longer have the advantage in is inevitably price.

follows:- fore the

Wheal (No. 2, red, per Brokers said this respect which they enjoyed British shipyards have not lost bushel in cents) close, the market apparently had, ad- during the reconstruction

period

their lung-standing reputation spot Justed to the Korean truck

1321 Continent. on the

for

quality in shipbuilding; but Sept. 1984)(H) 103%2(L) - The demand for new ships to many foreign, builders can viestach 1954 While many uncertainties re- main to plague the market as a replace those lost during the with them in this respect for May & ORIENTAL |

is worked out, many war, and to provide sulfielept many types of ship. peace Wall Street brokers feel the tanker tonnage to keep

pace market may take the opportun-with the increasing world con- Their reputation for prompt bushel in conts) lly to consider the good sumption of oil, has ensured fullness of delivery, however, bas Spot of the world's growing red recently because of the pec use Dow Jones closing averages: end of the war, except perhaps and their spasmodic flowMay

shipbuilding capacity since the pronounced shortage of steel March 15A'

Bye (Prices the steelworks. 109. In the United States, where costs promises of Improvement are suly

Even if

cents) 90 high 05 to 48.89 are

De fulfilled, it may be some time sept 105.37 uneconomical for shipowners before the effects of delayed

out in receipt of special subsidies delivery wear off.

Dale (Prices par bushel in 05.12

'cents). Comm. Prices Inex

180.00 from the American Government,

Judy

744-34 The 1052 launching output of

Sept. -United Press,

SHORTAGE OF PLATE Japan and

Continental yards, it must be example, waa composed mainly noted, do not seem to have bushel in cents) ot replacements for the national suffered to the same

extent sep. Sport or of tankers built for from the altortage of shipbuilding Nav. export,

France's output was plate.

This is

Jan. 1954 parlly becauSÓ entirely for rebuilding

*** | March the their overall

aromag not so large,

erall requirements French fleet.

and partly y because Barley (Price per bushel CHANGE IN SITUATION they do not seem to have had in centa), These

replacement pro-any difficulty in obtaining per-spot grammes, however,

buy abroad, are now mission to

from coming to an end, and a pro Japan and the United States, for nouneed change in the situation example, regardless of price.

STEAM NAVIGATION CO.

R.M.S. CORFU'

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

FRIDAY the 31st July at 12.00 noon

UNITED for the

KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

Passengers are requested to send ALD baggage to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 Gate,

· CANTON ROAD ENTRANCE, by NOON on Thursday, 80th July, "1953.

SPECIAL`NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only. BAG- GAGE COOLIES WILL NOT BE PERMITTED TO ENTER THE WHARF.

EMBARKATION: Passengers should embark between 9.80 and 11.00 a.m. FRIDAY, the 31st July, 1958.

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

reports Carnings favourable items.:

30 Indusclels

20 rails

15 utilities

06 stocks

40 bonds

anti

270.44

Sugar Prices et

In N.Y.

to

bà

Germany for

New York, July 20, Work! sugar futures close today two to six points lower

becoming noticeable. In One of the chief advani with-sales of 571 contracts.

shipbuilders hai Domestic No. 8 was one point Japan, for example, the latest for British lower to use point higher with gramme has been reduced to as cost is gradually rising, 11 is

"zational" shipbuilding

pro always been, and still is, the price of British steel. Although sales of 300 contracts. Domestic

alow-mere dozen cargo vessels; and its contracts raffected the

despite a

ninarked reduction in Continental shipbuilders, how

still the cheapest in the world. down in redmary demand. The quotations recently.

faw

foreign closing prices were as follows:-orders for tankers are coming

often offsel Contract No. 4 (world) •

cha la. In fact, well over half the fa September

3.54 bld

labour costs. berths in the principal Jogancso

only October

3.45

shipyard Continental 370 nom. shipyards are now vacant.

works 3.33 bid In Germany, Allled restric-generally work much longer 1.33 bla 328 nom. tions on shipbuilding delayed hours in France, for example,

January (1054)

March May July September

Spoi cents per Ib. 1.0.b.

Cuba!

Contract No.

September

November

January (1954)

can

do

Coru (No. 2,

Sept.

Boybeans

pf the economy, now that the expansiva impetus given to it by the 2014-1

rearmament pro- 287-206

gramme is wearing off, is how 2015-1 to find u market for a volume yellow, per

pf output which is onofth larger than it was throw years 100 $4734-14735 480.

DATT

มน

per bushel in

་

(Prices per

200 nom 25612

24754-16

unquoted! New Work oue-00 The Bock, 12.70-United Prog:

TIN

LONDON

MARKET

London, July 30. this mornicy

The tin market was neglected with spo tin marked down £3 to £370 per lon and three months in down 10/- to 237344. Turnover wis only 10 tone, all for cash. The closing prices at the end of the official morning session were as spot to, buyers

3. nom. the building up of the dry cargo the normal working week is of follows:-

feet, a pituation which the 40 hours but they do not have ip, their best the same expensive trade union Germant turned in fatin on restrictive practices,

3.58

4 **

|advantage by

886 bid 3. Bld |modern fleet of extremely 5.78 nom. efficient. vessels which

is now 8.65 5.50 bid

March May Apot (cents per ib. c.l.f.

[NY ex-dock) July

8.00

September November

8.71. 12.

in nam -United Propy.

PRODUCTION COSTS

STO

sellers

usine

Three montiu tin, buyers

Busine

477EL 15774% 5771

Bollere

In the coming months of Bettlement almost sufficient to make the growing international competi- host of existing finding pro- tlon for a reduced number of

i spects, particularly

same pace,

VERY VULNERABLE

Worge all, the greater part of the recent increase in instalment debt has been for the purchase of motor-cars.

Perhaps the most impressive thing in the experience of the past few months has been tha Thus the industry. which way in which US consumer many

would regard as demand has promptly taken up the Lingh-pin

of American by easier sup business prosperity is it an ex- plies of materials.

The offstandig demonstra

bc- Hon of this calence of Amer- can demand has been the boom In the motor industry.

But other industries making consumer durable goods have benefited too.

METAL GOODS

At the mumo time, the ro covery in texule enlou, which has been a world-wide: phonor menon, has added to the volume Į GLU.S. putput

ceptionally vulnerable position.

It is vulnerable not only cause its current rate of output seems to depend on increasing an already large burden of con sumer indebtedness, but also because any drop in people's earnings la likely to mean more than proportionate drop. In demand for new cars.

D

There are, in fact, already. some slags of strain: the current output of cars exceeds the rato of aboprption by buyers, reinil stocks gre unusually high, and "It Is," however, the métal second-hand car prices. have goods Industries which have been falling.

been responsible for much

the

gröstes!"bart" of the 10 per cent

ANOTHER SIGN

increase on last year,

Another obvious sign of Their prosperity is, of course, danger at the moment is the by no means exclusively due to rapid accumulation of unsalable the buying

spree in consumer farm surpluses and the drop la durable goods.

Increased output, of capital farmers' Incomas caused by it.

· This is admittedly a process goods, notably machinery and which has been going on for electrical equipment, have con some time: in 1952 total farm. frikujed largely to it, and the Rustained building boom has income was 6 per cent dowis on helped

order book decline of the same size is cx- oks the previous year, and another hal

1053iza Indeed, the second important that id potentially a more feature making for optimism in disturbing surplus is in stool,

to

the current UiB. 'oconamie scena

le the evidence of rising demand 4774%

tor industrial plant and equip United Press

compell-shipbuilding contracts, produc London Foreign

378 nom. Ugg with upeconomical war-tion costs are going to make all

bullt ships.

Lus! year, then the difference between work and shipowners were

were anxious to payment 3. British!" ship- sure the reservation of building

will no longer be able berths, the Germans were able to pass on increased wage

Exchange

costs New York to secure many contracts from to their customers, and even Monter."

Amsterdam

Exchange Rates crema particularly far when pront marine are cut to

-Business was done in the ⚫ local

unofficial exchange

tankors; but they have suffered the bone there is Utile room left one market this roccally from several cancella- for trimming quotations to the rich moming at the following rules:tions.

level to which foreign com- S

Copenhagen France and Holland

pelliere

1}.sk" dollar^{per #3}. Sterling neta (për 21).

Indonesian guildery "(per 100)

Blani Iicals (per: 100) ·

Ringapore (Birmita)

Indo-China piastres, ¿der 100)

18.33

mayda prepared to stockholm

19.00 particular, have been clever in descend when present building Deutsche Marc

1.78

Financial „Timer,

17.00 their timing of the transfer from les come to: „an- and Blocked Mark

oldomestic to export bullding.

London, July 29.

indet.

+

WEAKNESSES ·

which seems. Inevitable by the end of the year if the new steel Is fully used, oven as- capacity suming that the demand for metál goods; remains stabilo or increams alightly. The latest offlelat (estimate): "Yet none,nfibes obvious based on an analysis of the in-dangers bederis to affect the vestment plans of buinémuền, current mood of buoyant oplie palts the total éx páñditúral in valen, in U.8.. builnons, and this fhin field during thà fist nine | paychological factor in Baolf an thorth of 1859 7 vor cons important element im way jud

Judg above the corresponding

oing level ment of the situation of the previous year.

not appear to This projogled expenditura is, by our flatened by the throat. moreover, ifmily: pound on # or surpluses at hay used to bec higher level of sulane prunte,, But that does not provide a a trend, which will no doubt reason for the rest of his world. United have its effect in sustaining de to fear them any. lets---The

„mind' in other falls too.

Financial Times.

EXTEL