1953-08-07 — Page 9

MESSAGERIES

P.O. Box 63, Queen's Bldg.

M

Outwards "VIETNAM"

"CAMBODGE"

'konieważda

“VIETNAM".

"CAMBODGE"

MARITIMES

Tel: 20001..

M

PASSENGER/FREIGHT SERVICE

Leaver Mutalité

.... Rafled

A

JOY

teari Habskon 啭

Atigunt:

Aux.

**A*

•

0-11 ANE.

14 Sept..

For

Yokohame

Kalich

* 20 Septe •Halzon

via Marcellies to all Mfodi;ergonean & West Africa ports. via Djibouti to Madagascar.

Outwards

"COURSEULLES”

"AURAY"

"IRAQUADDY"

Homeward

"MEKONG"

***COURSEULLES"

"AURAY"

"IRAQUADDY"

FREIGHT SERVIÓN

Leaves

EUÏQDe-Based

++ Europe-Billed

‚¤twälja 1 Sept

Leavee

Hongkong

For

* Яipt,

24/20 kryt,

18/14--001.

Tabgkong

For

-Keelung-20 Ans. 23 4.

• Kenlung-4 October 5 October ..Köetahz-24 Oct, 21 pct. ......Keelung 7 Nov,

Nov.

Expin Хорхо

↑ Saigon, Marseilles, Algiers, Oran, Tangiers, 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, Slam, Malaya, Rangoon, Calcutta and Chittagong.

"NOREVERETT"

Arrives. Sails

Aug. 20 from Singapore, Aug. 21 for Kobe &

"REBEVERETT"

Arrives Sails

Aug. 28 from Manila,

Aug. 29 for

Yokohamu,

Singapore, Penang, Rangoon Sc Calcutta.

(Accepilug cargo for transhipment Kobe/l'usan 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.

"STAR ARCTURUS”

Arrives Salls

Aug. 19 from Japan. Aug. 19 for Manila,

"STAR ALCYONE”

Arrives Salts

Aug. 22 from Singapore. Aug. 23 for Naha & Japan,

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

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

The Rubber To Import

The

Markets

Singapore, Aug, 0. :ubber market

cared slightly towards the close profit-taking. In the morning sellers were reserved. The closing

praces were

ho, 1 rubber per (b. August

Sept

Dol.

Red China Cotton?

.

Osaka, Aug. 7. on Both Japanese cotton mills

and

importers have developing great interest in the

No, 2 rubber per lb. August 63-634 No. 3 rubber per 1. August 0152-1-

No. 4 rubber per 1h. August EXER-500 Spot rubbre unboled

Blanket crepe

been

THE CHINA MAIL, FRIDAY, AUGUST 7, 1953.

Overseas Investments

Of Great Britain: Decline In Value

The decline in the nominal value of U.K, în- vestments in overseas securities, which has been proceeding almost continuously since the outbreak of war in 1939, continued in 1931 át á rather faster adce than in the previous year.

According to the annual Bank of England Survey of U.K. Overseas Investments for 1951, just published, the total nominal capital values of such securities amounted to £1,988m. at the end of 1981, compared with £2,019m. a year earlier and £2,038m. two years before,

At the end of 1939 the total nominal capital value of overseas securities owned by UK residents was £3,545m.

At the same time, the yield on between 1951 and 1952, and that oversens invertiments in interest under administrative facilities and dividends rose still further from £222m. to £170m. In 1931, the total for the year being £150.4m., compared with £143.8m. In 1950 and £118.4m. In 1940.

The contraction in turnover was probably due to some extent to the decline in the price level for

I end of the war that the yield The drop in the vo responsible i

It was the Arst time since the level, 1038

had exceeded the prewar the comparable tolat for being £155.4m.

SCOPE OF SURVEY

The Bank's survey covers the investments of UK residents through the medium of securi- ties quoted ឡាៗ. or otherwise known to, the London Stock Exchange and includes U.S. and Canadian dollar securities tor merly registered with the Bank of England under Exchange Control regulations.

дз

•his, and the fact that its cal- .

many commodities which enter largely into world trude. of trode was to

extens for the indicated reversal of the previous steady rise in the use of Sterling for financing Inter- national trade. The shortage ut Sturting which developed in the closing months of last year may also have played some part in the movement.

Despite the sharp full from 1951, however, the turnover of the transferable account system In 1052 was still almost a third higher than in 1851.

rlse

NOTE. EXPANSION The survey does not, however,

The Bank's report points out take account of certain other Important forms of British that there was * further in- crease in 1952 to £151m. In the foreign investment, such direct investment in eversons total of UK. Merchasing trans- countries in the form of the actions bettern non-Sterling establishment of

on a Sterling basis. subsidiary countries

£125m, compared with undertakings by British

Indus- This

1951 and £72m. in 1050. concerns.

is explained that the between 1 and 1952 occurred in spite of a fall in transactions under the schemes to facilitate the operation of the London commodity

markets, It was due to country-by-country analysis largely

payments of changes in the nominal value Sterling to American Account of British awned oversos tinder

under the

the Bank of England' short-lived commodity securities during 1051 shows that short

arbk. the net decline of £34m, was lovage scheme of August, 1952. the extent of £13m. dub to a shrinkage from £1,138m. £1,120m. of investment Commonwealth countries.

culations are in terms of nominal values, means that it does not provide a full indication of the fluctuations in British

OvoŢALAS

assets.

A

HONGKONG

SHARE MARKET

Largest Tanker Fleet

Now York, Aug. 5.. The largest doean going tanker fleet in the worki was under the United States flag of July 1, the National

Federation of American shipping report. On that date the tanker feet cumbered 443 vessels or 0.800 174 deadweight tons, showing a not interesse of two ships and

Best

Page

Canada Largest Importer Of Capital Goods

Brunswick, Aug. 6.

Canada has became the largest importer of capital goods in the world, according to the Monthly Review of Nova Scotia:

Discussing the Canadian import market, with particular, reference to the overseas exporter, the review said that in 1951, Canada imported more than 1,000,000,000 dollars (£333,000,000 Ster- ling) worth of machinery and transport equip-

are

124,174 deaktivolght, since the of the year. Five ships were removed from the United ment.. Statos tanker Geef during the past

six months and seven new Of this: machinery inports. Its customs. Bhips were bulit,

procedures 1038 fleet by 31 ships and was imported by any of the lower than those of the United amounted to 734,000,000 dollars simple and much less subject American-flag fanker was how larger than the three to four times as much at general its tariffs are somewhat (£245,000,000 Sterling), roughly to delay and uncertainty. In SHARES BUYERS SELLERS SALES | 3,000,000 dentiweight tous, the major western European counter1th countries, which

(From Bus Corraspondent) Busings”, donú on the Stori to $407,075. Noon quotations and Exchange this morning arounted the morning ramanetions

BANKS

Bank XD 1073 1540

INSURANCES

Cantor Union FRC Fie SHIPPING

Ada Nav. DOCKS, ETC. K, Whart pock Providmat Sh Dock Whoclock

LAND, ETC. ik Hotel IIK. Land

Shai Land Humplireya UTILITIES

Tran

1,68

6.03

સદ્ધિ ૩ ૪ તક ઉદ્દે

1.As

The

that

Briain or the Uniföd

Slates A

Have

and much lower for

Federation's report said tries the largest part of the all freighting feet operated in comparison with the print the advantage of the Bri-

preferences. the coastal and inter-coastal cipal Commonwealth countele, Canada is one of the few trade, as was the case before showed that in 1930 did 1931 important markets in the world zond en 14 the war. This part of the fleet Canada's imports of machinery free of quantitative restrictions has grown to 3,020,000 tons to-were as large as those of Indio, and similar import and ex- Hay compared with 3.200.000 Australia and South Africa change controls. 11,00 tons in 1038.

period These big machinery imports barriers to the free The report said that the

mbet

of goods across international

* 74 8 3 2 88 8

sig

-100 105

combined.

when such movement

| Ferrarigable change in American-reflect the demand for boundaries are the rule rather

In

fing tanker croployment was in highly specialised Курсе of the $40,000 tons of American capital goods arising from than the exception, this is sure- chippling trading between foreign Canada's postwar capital invest-ly a consideration of no small ports. There were no ships

ment programme,“ The review ratment," the Review sald. 1615 800 ℗ 1944 | United States reg dry ruuiing suid.

Chino Mall Special. oil products between foreign

Important as capital goods im- ports

before the war. In foreign ports were, it would be a mistake, 1,871,000 tons of said the Review, to minimise

tankers now the buperiance

now

bf the Canadian compared with 503,000 market for consumer goods 1.40 tons of such shipping so engaged 1951 imports of such

before

the war the report said. amounted to 815,000,000 dollars The Caribbean area and the (about £271,000,000 Sterling), British Lates were the biggest for 20 per cent of total imports. Cement 1810:00 poder do markets for American petroleum They ranged through all types

exports, report said Sub-of

consumer purchases from stantial shipments also went

vehicles and household northern Europe South America, appliances to clothing and foods. Scandinavia, Inila and Japan,

Oll imports from

MARKET IS THERE. Carib-

Tokyo, Aug. 6. Japanese treders are com- bean reached

average a monthly

"Although it a perfectly true plaining about the poor quality of 3,322,600 tons in 1953, with that

B.40

C. Light (0)

Light (N) 8.40 1000 Electele Telephone INDUSTRIALS

Itupo

170 1810 STORES, ETC.

122.40 22.00 300 Duty

27.10.71-30.

.21.70

40

Watson

L. Crawford COTTONS

E

3.00 7.6715 Textile Core 3.00 MISCELLANLOUS

ESTEGO

81 0.80 4000 4 0.00

ert toj motor

SAKHALIN COAL JAP COMPLAINT

American ships carrying o half of this enrgo.

Vitors of Canadian the first shiploads have started to extried consumers are met from Candive in Japan ride repert three-fourths ol Caribbean

noll dian production, there exists a

inriented today. In Imports 1940. American ships substantial market in

Following a client negotiated Canada were getting a decreasing, share for imported goods,""

beliween Tokyo Olura Shoji nald be Company and Serie: reprezenta oll imports from the fiddle Review.

Small

carrying about everyder major. pari; of the of Bokhaiin curl just na moon as

Contract For

Britain

of

These cargoes,

t

cent of

inexpensive

tives th Vapes, the band hip- cars, log at Sakhalin cool reached.

Enst, 330,400

tons

A month In 1832. quality clothing and footwear, Minoran Hokkaido, on July 23, with

American ships carrying leather goods, watches, china followed by two other shipments only 32.7, per cont of 11.

and glassware, wines and fancy delivered at Kawasaki near Tokyo contrast, Americom vessels biscuits and confections are on July 27, antr Komaht: Israte carried almost 59 par Persian Gulf and Red Sea oll which enjoy a substantial mor

examples of Imported products pudocar on suly 20.They were imports in 1949, the report said. kut in this country

carried by Japanese higitters. China Mail Special.

Upon: enoroinntion of the Canadian experience, the Re-ever con is quality was view said, bere out the prin- famtt to be inferior to what the ciple that an increasing degree of importing mums jnd expected, the industrialisation made a countryport sild.

U.S. Deficit Declines

Colombo, Aug. 6. The Bank's report contains The British firm of John C to the usual annual surveys of Gammon setured in the face of movements world competition the £500,000 in banking

king conditionis, in Interest rates, floating debt contract to build a new road transactions and other National bridge between Colombo and SALE OF RAILWAYS

Debt operations, as well as a Kandy. The realisation of investments summary of the financial agree in Canada was responsible for incals dealing with the inter-centres

a1 Sterling con £5m, of this movement, and the national use

cluded during the period. redemption of Australian Gov..

An analysis of the nolo circu- ernment and municipal loanslation by denominations show (though proceeding at

slower

that of an expansion Blmost

of in pace than the preceding € 102m in the total of notes in years) accounted for a £10m circulation to £1,470, ndarlý: W take 1,500 local people $2,159,185,836 deficit in July, requirements of many commodi-thakulacklirers, who gremrisent 'to' drop in holdings of investments £70m, was represented by an (in that country. Investment in increase in the quantity of£1

most of the African Common- notes to £1,124m. und wealth countries continued to by a rise to £178m, in the

quantity of £5 notes. Holdings of securities in nap- Commonwealth countries drop- ped during 1951-in nominal capital terms. by £32m. to £718m.

About £18m. of this move. ment

attributable to the was! sale of properties in Brazil and Venezuela by British companies which formerly operated rail- ways there.

There was also a fairly sharp decline in investment in Chile possibility of importing raw and other Latin American comm-

WALL ST

RALLY CONTINUES

New York, Aug. 8. The stock market contract

prices and

fox

a few cents In

Experts from the Arm's in Britain India and Makya will arrivo in Ceylon soon to supervise to building in reinforced ponérete across The Government has given the River Felani top priority to the fob which about two and a half years to complete.

Largest in the island, the new 80fect-wide-China bridge will be 800 feet long and Malt Special.

Exchange Rates

Bualnert won dort in the local

exchange

Washington, Aug, The Government ran up

d.

act u poorer búia Better Trade sounder pointra- out. customer of other notions.

however, this is cult have re- "Canadian Industrial produced on the Olaun: Shoji tion is 24 times as large as the contract with the Sovict Company's over-onixíely, to m was before the Second World War, the

representatives; for the client country is

supplying an increasing proportion of her

cient

Some by the local iron rúðstęs!. the list month of cavy Slush. in

to tew Escal tes, petroleum products and phase the Okura Shoji Corn- year, despite a

synthetic yarns and hbres spending,

are pony's importe Treasury figures notable exam

may not take showed

examples and the Both the panding and the new products not list of them as they were found for be previously mere "gas, coal unfit for use in- dencit were almost $700,000,000 mado. in Canada is constantly on foundries, it was reportest.

lengthening under the figures for July

said the Review.

Two che thing ringing year ago.

Income was slightly. Yet Imports have grown himest Sadhalin ecel will ek n Omka lower.

as much as domestle production cha Kawasaki early this month.

-France-Protra The Treasury took in $3,308,-

ONE DISADVANTAGE 386,075 last month. $6,007,571,711,

"The Capadian market The public debt on July 31 one major disadvantage

$272,001,407,740,

almost the point of view of oversen Inpar

unofficial

market th morning at the followmi tiek US. dollar (por $1)

and

Sterling note (per 1)

was

15.87

Siam tlcala per 100)

27,00

Singapore (Ss) Indo-China plastrus (per 100)

1.78

B2

and spent

from

business is so well

indonesian guilders (per 100) 18.30 $8,000,000,000 higher than the exporters, the fact that United

end of the last fiscal your

on States June 30, However, the Aguros entrenched in it. For mang include about $800,000,000 in yours the United States has obligations that are not subject supplied two-thirds or more of to the $275,000,000,000 debt Canada's imports”? ceiling

This state of affairs is ex- United Press,

by VOLY closer

A four-man

London, Aug. 6.

British cotton

cotton from the Chinese main-tries. But changes in Investment its rally with renewed gain to Export Team Back land, although some firms have totals for countries In other day, adding

more turnover för been shying away from open parts of the world were general-the week. The volume, which discussion of the question in ly at very small" ziñount.

had dwindlal 15 the market industry export team has ce CANADIAN $ CHANGE pausod

polttaking, picked

from Luged to Lohckin after a 12

Week The surves

estimates that D to 1,200,000 shares

East yesterday's 1,080,000. identified repatriation of UK.

Potential Oll and rall shares retained territory to investigate

Led by Mr AD with rails up markets.

Campbell, representative of a cents, while

to

80144

view of the political considera- tions involved, according spokerian of the Japan Haw Cotton Importers Association,

71-20 Uled Press.

He. 1 pale crepe

LONDON MARKET

London, Aug. 6.

He sai

provement

ty coupled with a recent im tries accounted for 213m. of the

in quality had

JAPANESE BONDS.

panese bonds

London, Aug, 0.

*** p 1010)

"C 154 of 1007). "b" 10% of 1024)

101 1900) "F" (Tokyo Aisk of "" (Tokyo in of 1013 CHEDE

set up by Congress plain "Vi", two "Intreasé, intrade:

Rails For Formosa cultivation of the market

economies, and the Gasiduous

to

said geographical proximi-investment by the deblog coun- | the fender dustriels closed fango cotion exporting company, chase of 1,500 tons of rails from service as well as In price and Japatiess Government will: ex- The rubber market was stendy, rendered raw cotton from Com- / 29. drop in the nominai į cents higher on averagti. Utilities the team had toured Uganda. West Germany.

Prices were as follows:-

No. 1 RSS spot

Settlement

Business ...

101

United Press.

to in

NEW YORK MARKET

Amall.

New York, Aug. 0.

Number

one IISS Wax

The Council said this was:a

non-

A few of

France-Presse

new

Los Angeles' New Marine Terminal

the entire plans, to permit un-lead below into the main ter Interrupted works at night, an minal. Thus, visitors can reach Three railway, tracks line the the passenger facilities on the landward side of the terminal, second floor without crossing the

a street arca- 20-foot wido, loading platform

by

Tokyo, Aug, 0. Taipei, Aug, 0. Americans. Oversca exporters The Government will raise the The provincia foreign ex-if they are to enlarge thel

tomorrow FF] "awing, ecilifig change committee has granted share of the Canadian market,

from the $8,000,000

present jo the Talvon Sugar Corpora- must be able to meet American $3,000,000 in the Japan-France tion authorisation for the pur-competition in deliveries and in payments agreement The 101-10 munist China highly attractive value of U.K. Investments over- Improved 20 cents,

The price of quality."

chunge noics with the flow of good Kenya and Zanza Falls is US$10875 per ton- continued cotton textile seas during the year. to the Japanese

Canada is an easier market to French Government for Its.com~ bar Reuter. The sterling volue of securi- earning industry and trade, which used

Canadian to the rig

contributed

'enter than the United States. Briation-France-Preise, les expressed in fairly large

timism. consume Д

President quantity of Chinese raw cotton dollars increased by £2m, as a

Blachower toda before the

****** result of a change in the value turned

the propec down war.

of the Canadian dallar. The movies tax exemption but he The Sino-Japan Trade Fro The rubber market closed motion Council said it had re-residunt decrease of £23m. repromised to recommend today 8 to 10 points higher ceived samples of raw cotton presented net sales through the ducilon (bls year in his proposals

market 10 unidentified with sales of 33 contracts. The from Communist Ching, which

Los Angeles, Aug. 6. It is so vast and complex that Fise in prices was in fine with were of the American type and residents. The net effect of the for a modified system of excess

profit taxation,

A new marine terminal one Matson contain said of 11: that in London and Singapore slightly inferior in quality various transactions catising a

to

the movie, stock witch has just been opened "Nothing like it at ang port in Volume, however, continued American middling.

dis-investment of £34m. nominal eased or point, but most

the world." was a a receipt of

cash, in £31m.

alongside this city'a largely were unchanged. Oils clim

It is like a small city under a facent to which stretches The increase at £16m. in up, ranging, from 6 to 8 pman-made harbour can be single roof. quotes at 23% cents a poutid, great improvement compared receipt from Interest and

3 cent from yesterday.. up 3

in with pre-war days where dividends between 1850 and 1051 ralis, most seues were fine lont rowed from its neighbour, Texas Pacife Land Trust. In described in a phrase 'bor-

Here are some of its statisties: covered with a glazed martuce. The bridge funds to a "con- Heavy factory buying was cotton produced in China was

Imparting Arm mostly of the Indigenous type. reported

was almost entirely explained ly higher

The landafen octuples 40 The entire area is paved so that course extending the full length undertone to the market.

acres; a car park measures 20 lorries as well as freight, trains of the wharf alde of theter- Of According to Information re by a rise in share dividend

the 1,001 Issues traded to Hollywood-"it's colossal,” ments.

acres, me dit to

minal and from this vantage. Futures prices closed as follows ceived by the

Compared with 1938, day, there were 755 higher, 251 dou-coloured wells fisting 75 cars, and tacluding a helicopter Cargo movement is expedited polat all water operations can be by the Council, Co share dividends in 1951 munist China

ins consumes about £1314m. were

እኒ lower and 287 unchanged. The feet skyward from the harbour Bcki: two 100-foot wide road by 13 huge motor operated cargo watched cent New York Stock bort volume a nually against an estimated higher, dospite the Interim con- was at 1410,000, and the Atrerie water to spot a spot of Varlegat ways serve approaches; a Fainpe bridging the space from the paschgoe necor

mission tile at the marshallng gard traction of 2333m, or 28 per can Stock Exchange volume landward end of the structure, side to serve four rallways At the landward end of the which can handle 64,

Tard parallels ona shed to chipside. barvest of 10 millici pićuls for

include

entra 2280 nom, the 1933-4 cotton year, leaving cent. In nominal share capital was 280,000---United Press.

about

bow greet. Incarning the

other hand, intèrust re-

and ship-passengers, princ

Wars

two railway terminal rises a three-storey por Hous available for export

ceipts from Yoan caplial in 1051

cd more offer bulkling," "reflecting the ing the whole vast than 10 miles of concrete pling, Spanish Influence in routhern of

For the London Foreign building, a 100-toon elbek hi can accommodate turco

corner, topping Trade sources said the best were Ciom, or 84 per cent

lower chimes the quarter. baur 16lba' at 'anë time...

California architecture, plocft,cally

Beneath

the tile roof are stages and Lardy 10-foot- Exchange

picture

shed, or main offices and hallways Anished In fed irony centul fre meThe, nushing. Is as large as pastel shades of interior slucen windows run the length of the

terminin upper portion of the building, nye football felds,

with accoustical tile celling, room set off by listening.

coloured Claimed to bo- the largest matching linoleum floors, maho- front mon

stracture of jis kind, in the gally doors and trim, venetian scenes

which guld make Of the indward side of

27.23

September December

Starch (1954)

May July

22.00 Uld 29.83 bid 22.00 bid United Press.

15 m

September

throu inillion picult

on

69 per

BORNEO MISSION doal from the viewpolut of the lower than in 1938.

Djakarta, Aug. 6.

Japanese cotton spinning in-*.

USE OF STERLING dustry under the present eco

· The annual repört öf 'the Bank nomic conditions would be either A two-man Japanese private barter between Chinese raw of England for the year to mission arrived in Tarakan, cotton and

Japanese Inished February 28 Bornico, to survey possibilities of buying Borneo produce for excotton goods or what is caled total of business hows that the New York.

process-dealing in which Bärk's

port to Japan, Ancta reports to Japanese cotton mills impart

day.

for

händled

raw cotton and, export· Anished/em daam. In '

the Montjoa?" Saph Bruwely Raccount. Amlardan

Payments

1962, as Zurich The Japanese particularly were goods

Copenhagen using part of the raw compared *** With

the interested in ralian and resin. cotton and paying for the les previous twelve monthis, an the agency added. The Jap-|mainder of the cotton with the The turnover under uttomalle Deutsche anese represent "Nampo: Ingio cost of processing, China Mailtransferable account facilities Lid."United Press.

Special.

„fell'. from £241m

Blocked

Others

QUER

from

dok

Wipe powly-completei lärminal | world, the terminal. Las facilities | blinds and fluorescent ligand l'Angeles Harbour area.

Intion

Las

var bulit, by tho, Lake Angelos to move 6,095 tons of cargo terminal, adjacent to the ear miniscent visitor Ends it hard Harbour Hoard and analged as a face to assemble 18.008 par la pavilion Building, believe that 50 years ago all this the Malachi Navigation Cafbpany after tour years of ennal

satulan tons of cargo, and, umulans

housing an escalator and a foot was only a drowsy mud-fat d 11896 and 10 years of pisteitä emergency, 100,000 tons of cargo ramp leading to an upper level. marsh--a dream in, the a minde

cost of $8,250,000 (about 22,- could be stored in the terminal United

This connects with an over-of a few far-sighted: mene 100,000).

area. Huge floodlights illuminate #hend bridge across streets that Reuter.