1953-08-11 — Page 9

MESSAGERIES M

Queen's Bldg.

Outwarde "VIETNAM" "CAMBODGE"

H&mewards

"VIETNAM”

"CAMBODGE"

THE CHINA MAIL, TUESDAY, AUGUST 11, 1958.

MARITIMES Wage Increase

M

PASSENGER/FREIGHT SERVICE- ··

Lænven Margelten

....Яalled

... 21 July

Leaves fonakong

.:25 August ***Aug.

Hongkong

For

12-14 APE. Yokohama to Aug.

Due Mortaillon- Vla

17 Sept. 3 salgon 24 Nept

Salgon

vis Marsellies to all Mediterranean & West Africa portą. vix Djibouti to Madagascar.

Outwards

"COURSEULLES"

"AURAY"

"IRAQUADDY"

Howarda

"MEKONG"

"COURSEULLES”

"AURAY"

"IRAQUADDY"

FREIGHT SERVICE

Leavra

... Europe--Balled

• Rurope-Halled

Antwerp- 1 Sept, Graves

•Reclung-20, Aug.

• Keelung→ 4. Get. -Horlunf27 bệt. ..Keeling-1 Nov.

Hongkont

2 Sept.

21/20 'Sept. 12/14 Q5. Hongkon

22 Aur.

Oct.

28 Det.

* Not.

For

Japan Japan Зарад For

Saigon, Marseilles, Algiers, Oran, Tangiers, Casablanca,

Le Havre, Antwerp, Rotterdam & Dunkirk.

Subject to change without notice.

m.v. “VIETNAM”

will sull for

YOKOHAMA AND KOBE

on

Friday, August 14, 1953,

EMBARKATION:

BAGGAGE:

at 7

p.m.

Passengers are requested to board the vessel between 4 und 6 p.m. on Friday, August 14th.

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 5 p.m. on Thursday, August 13th, 1953.

CABIN BAGGAGE: cannot be accepted on board before embarkation time. Passengers will therefore have to collect their baggago from the godown between 4 and 6 p.m. on the 13th August, during which period cabin baggage only may be registered. Passengers are requested to note that ALL BAGGAGE must be registered as prescribed above.`

Compagnie Des Messageries Maritimes Queen's Building

Tel: 26661

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 Soils

Aug. 23 from Singapore.. Aug. 24 for

́"REBEVERETT”

Arrives *Sails

Kobe & Yokohama.

Aug. 28 from Manila, Aug. 29 for

Rangoon

Singapore,

Penang. Calcutta,

(Accepting carco`for transhipment Robe/Pusan" and Kobe/Okinawa)

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo China, Siani, Malaya, Colombo, Bombay, Katachi and Peraian Gulf Porta.

"STAR ARCTURUS”

Arrives Sails

Aug. 19 from` Japan, Aug. 10 for Marlin.

"STÄR ARCTURUS”

Arrives Suits

Aug. 24 from Manila. Aug. 25

for Singapore, Port Swetten. harn,

Penang, Madras, Colombo, Bombay, Karachi, Kharramshahr, Basrah

Bahrein,

“STAR ALCYONE"

Arrives Sails

Aug. 25 from Singapore.

Aug. 20 for Naha & Jagan.

(Accepting carzo for transhipment Kqbc/Pusan and Kobe/Okinawa)

6

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

BUSINESS REGULATION

ORDINANCE 1952

Copies of the prescribed Forms 1(a) 1(b) and (c)

Now On Sale at S. C. M. Post. Ltd.

HONOKONG AND KOWLOON-

TEN CENTS EACH

Page: 9

Drive|| Pacific | BRITISH SURVEY

Economic OF JAPAN'S

Described As Threat

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Stock

Exchange this morning amount ed to $277,024.40. Noon, quota- tions and the morning's trans- actions:

BHARES DUVER: SELLERS BALES DANKS

HK Ink XD 1623 1540 East Asia

INSURANCES

151

Canton

249

HON

105

137 610

IIK Fire

150

SIILPPING

As Nav ... 143

DOCKS, ETC.

K. Whort

Provident

Wheelock ..

LAND, ETC.

17 250

1250

1300

6.0 8.10 2000

IK Hotel... 1.50 HK Land S'hal Land Humphreys UTILITIES

Train Peak Tram

(0)

1

Peak Tra

(N)

12

To

Exports

The Chancellor of the Exchequer in a speech called urgent attention to the threat to the whole future of our export trade, resulting from the current drive for widespread increases In wages. A general rise in wages on the scale for which many trade unions are now pressing would destroy the present competitive price margin of British exports.

It is right to emphasise the keenly competitive markets both fatal character of this threat in the dollar area and in Western with all possibio vigour.

Europe, the aggregate, value of But equally the Chancellor's British exports in the first six statement

to underline months of this year has risen only the position of strength of 3 pcreent above the relatively

serves

Britain's export trade as it stands low level of the second, holl of at the moment; the competitive 1052. price margin does exist.

**

That in itself is, of course, not

Why then is there such wide- Compared with the first half of spread uncertainty about the last year, British export earnings prospect of fulfilling the objec- In the latest perfod were sharply tive, reiterated by the Chancellor down. 11.00 recently, of achieving a' sub- 12 stantial increase in the total of 8.65 British export earnings even on

the basis of present prices? NON-STERLING MARKETS The scepticism derives in large part from the experiences of ex porters during the past few

25 1200 24.00 months.

1.40 11

104

21.00

42

21.10

C. Light (0) 12:40 12%

021 # 12.30 3575 or 12.40

C. Light INI 8.35 8.40 27 27.24 Electric Telephone. 31.30 21.00 200 21,00 INDUSTRIALS

STORES, ETC.

Cement .... 18.00 18.0

500

1100

18.70 18.00

22.20 221

100 7.30

23.30

1500

500

Dalry

Wation

L. Crawford

COTTONS

Texile Corp. 5.60 52%

In spite of a highly successful sules drive hi some of the most

EUROPEAN OUTPUT

OF STEEL

surprising. The major effort of exporters in the past 12 months has be

been to find replacements in

non-sterling 'markets for the

business that was lost to them when some of the most important sterling area outlets were sud- denly closed In 1952.

THE RESULT They have in many instances been remarkably successful. And the result is that a lot more

|

Crisis

Warning Given By U.S. Journal

ECONOMIC LIFE

Japan has been made the subject of an over- scas economic survey issued. By the Board of New York, Aug. 10. Trade. It deals with events and affairs up to the The U.S. was urged to

1 of 1951. explore the possibilities of Pace Treaty lefe Japan with an ad

an ocean-going.. Facine aren where, it was capacity Japan expects to rate her merchant flect from rendering assistance to the

shipbuilding capacity of 600,000 tons annually; with that said, an "economic grisla”

two to four million tons by 1055. For domestic account, appears to be developing on

berths for between 300,000 ? and 500,000 tons · will be the heels of falling markets, and mounting coate of Im-

ported manufactured goods.

The Influential business daily. Journal of Commerce, sald buch action is very much in the in- terests of the United States, and would. counter-act Communist propaganda blaming the colonial imperialists powers for the plight of those

nations. The editorial said in part: "Now th

that the

(in Korea the nightige has stopped, it is only a question of time before the realisation is fully brought home to Washing- ton that rew crisis is brewing In the Pacific, this one more than

in nature. my Buntin, Indonesia, Indo-Ching and Thailand are sil involved in it and seriously so But neither die Philippines nor

India is

dontirely immune nor Japan."

"In o offsetting Communist

Pro

paganda 'in the Pacife area," clttorin said, "tho

Important thing is to counter, within the means available, the growing on- pression that our policy in that

largely negative

ател La

for tons

upkeep and for the provision of coastwise tonnage. occupied, the balance being available for repair and

"This leaves a capacity export of about 100,000 annually Japanese

silpbuild- Ing prices, closely following the prices of Japanese stec), are now about double those of the United Kingdom; yet Japan

present obtaining export shipbuilding -orders because of early delivery dates

Assuming by 1955 her mer- chant fleet reaches

the four. million tons mark, Japan may have to (a) continue to

crease her ocean-going" feet-to-

д

Sugar Trade's Problem

London, Aug. 19.

a considerably higher figure, or Britain's sugar, trade is (b) concentrate surplus hip- studying methods of im- building capacity on export

others rather than let it De plementing the Common-

to

ments/

Government depart-

idle.

wealth. Sugar" dgreement "In the event of (a), Japan without day-to-day control will be a serious competitor to by all nations of sea; in the event of (b), che, will be a serious

The trade is in contact with competitor in shipbuilding for export-with the United King- the Commonwealth producers,

and talks with British Govern dom, particularly

By

ment 1955 the present demand Departments ore. Ikely for shipping

fence thortly after sugar rationing ends created by defence

beon in the United Kingdom! towards British axparis than a year ngg) concerned more with explaining / require "Japan will, in

may have

that the end of

of Seplopher, satisfied are genuinely requited in terms what we cannot do, as with

would These

with the carte, be forced to reduce her instead of being

deal of Bard cash,

for a minus thark against commodity agreements than what present chipbuilding costs, and whole question of treesom merely a

wo"can." somebody's sterling balance.

may well "Certainly it should be worth

Ho resort to subsidise-augar trading in Bellali. V

The trade is now working on this. That is an important gain, and looking into the subject to usver

Issue of the "Japan ways to ensure ́that the full. recent it has only been possible because tain whather, without incurring Maritime Journal furnishes in- quota Britain guarantees to buy British exporters have been able tabustle costs, more cannot be

annually at fixed price urider the teresting data and comment on to maintain thoroughly competidoric to encourage the marketing the foregoing. At the beginning Commonwealth sugar agreement Live prices and at the same of the area's staple products in While Britain's steel out-time offer greatly improved de-the

s of April almost three quarters 1,040,000 tons can be marketed West, to extend

U. S. of the dips of 24 of the latest in competition with free sugar. livery times.

Currently the price of this technical d put during April and May

I assistance, to train the The mood of self-congratula- young men and women of the beauty yarns were stated to Commonwealth sugar is roughly be empty. Unless present con-18 34. per owt to.b. compared broke new high records, in tion induced by this reflection is, area in Amerkan ochools, and dillons Improve the percentage with 28-201. ruling in free world other countries it has re- however, disrupted by the re-

to extend de minder that

sufficient may rise to $0. other countries, credits

possibly

to mitigate

flute the worst

THE REMEDY notably Germany, have been able effects of this developing crials. to increase their exports to the

out it turns out that some non-sterling markets by much

·Indeed be can more than Britain

tangible help during the offered, we think. Mr Dulles same period.

do

than sponsor some sort of Asian or East Asian economic conference to explain dearly how far we can go and why we cannot go further: ~This would not solve the area's prob- lems but it ought to help,

concluded. United

Traders Inmained stable or even

Singapore Complain

This is made known by the United Nations Economic Com mission for metal in lis quarterly bulletin of steel statistics, Just published.

Why

cannot Eritish exporters | do as well as the Germans?

Part of the answer is that in particular markets, in the' dollar botter. In other places, where area for instance, they do much the struggle is most direct nerce, in Scandinavia for instance, they manage to maintain their hold on a'much higher pro portion of the total trade than before the war.

and

Press!

In April Britain's steel pro- duction was at the rate of 13,431,000 tons yearly and soared to 18,625,000 tons in May Singapore, Aug. 10.

cditorial sayIn Western Germany output Many Singapore tradera they are being ruined because of dropped steeply after reaching a the uncertain market for rubber post-war high in the first quarter and tin. They are undecided of, 1953. about

advantage of the taking

The Western German produc- relaxation of the ban on Imtion in the first quarter was only than from ports

tons lower Japan announced 1,000,000 three weekš ago,

Mr W.H. Walker, Controller

But during the month of May of Imports and Exports, sald Western Germany produced at there was no rush for licences the rate of only 13.880,000 tons

cameros,

Britain's.

THE ADVANTAGE Any attempt to explain the contrast in the aggregate export earnings of the two counteles must, moreover, make allowance

WOTSC

the

BIG DROP IN COTTON

MARKET

New York. Aug., 10. Cotton futures fell more than a dollar a bale today on selling

to import Japanese goods as annually-4,545,000 tona less that for the fact that the compoeltion traders appeared to be cautious. Britainritish coke exports for of British exports is much more

Some traders, however, have The shown interest in Japanese sheet the first quarter rose by 16 par heavily weighted by textiles, for remains com- and window glass,

dest to 4,616,000 tons. Western which demand

Watively wenic binoculars and toys.

Demand is fair for dried ash 000 tons were almost half as figh

crop forecast exceeding loeq! and salted vegetables. Galvanised again as in the same period for present circumstances not only sheets," padlocks, bicycle parts 1952.

in the composition of her export expectations. coal and trade

in is normal trade, but also

At the close, the list ruled off The six Schuman and accessories are among goods

3 to 21 points-25 cents to $1,55 for which import licences are steel nations (Germany, France, geographical distribution.

1 bale from Friday. It had Her traditiona now asked.

Belgium, Italy, Luxemburg and

economic the Content of opened unexchanged to oft five Of the quota of Straits $70,- the Netherlands) show a steady hinterland is

except for Europe, where she sells about points. by the Singa- drop in production, p00,000 allowed

New Orleans closed four to 23 of her exports; for Japanese Italy, since the cool and steel two-thirds pore Government

went into action Britain's economie hinterland, points lower.

The

Government estimated texilles, local traders asked for community

daking approximately one-italf of

the 1053 'worth early this year.

cotton crop only. Siralts $24,000,000

her total exports, is the sterling 14,500,000 bales, off 3.5 per cent up to the end of June-Reuter,

Last

SIPP 'year's Export demand

fallen from

15,130,000 bales, but some sharply in the second, while it has remained fairly buoyant in 500,000 bales larger than traders

had

T expected. [the first.

Traders indicated that a crop of this size would call for Federal

rext marketing on year's crop because of shrink- Ing export markets and growing surpluses.

German imports of iron at 2,596.- parative has the advantage in touched off by the Government

Sugar Talks

Continuing

London, Aug. 10,

The 35-nation sugar con-

The Rubber Markets

Brea.

FLEXIBILITY

to

The essential problem would, Singapore, Aug., 10. Indeed, appear to be the speed The rubber market was quiet with which British exporters are rapidly changing market' con- ference, working out an agree. during the whole session of the able to adjust themselves ment to control price fluctu- day with sellers reserved.

Rubber futures prices closed ditions.

Germans have shown The tions, today began an examina- tion of what stocks should be as follows:

No. 1 rubber per 16. Aug. 1.641 themselves exceedingly flexible

this -September

They would say respect. 04-64% that October

have be: their they had rubber per lb. Aug. 8212-63

held by signatory countries.

The delegates also alscussed

A sub-commitco today biso continued its alscussion of the problem of adjusting the amma BUZAT

gat export quotas

The London conference atms at Imposing export quotes and fixing a price level to maintain fair labour standards in the in- dustryRouter,

Blanket erepal (17)

No. 1 HSS spot Business

Beltiement

101%

1814-

of this

at

pro-

only

ar-

monites.

Plans now under considera- To remedy, this situation, in tion by the trade would, bava addition to the present

Iwo

similar separate markets gramme of constructing

United States to present 120,000 tons per year, an extra ran

rangements one for fixed- 200,000 tons may have to be an

be price Commonwealth sugar and bulit. including 130,000 tons of

the other for free sugar. 70,000 ratio would be dry-cargo carriers and

axed firm the

for tons of all · tankers, and finance for the construction of the amount of fixed price-and- the 200,000 tons may have to free sugar which British in- be raised by an appeal to public porters could bay, subscription.

dy would be statutory body A The banks, however,

Act up which would isme that the public will not respond, certificate

cates in these axed pro- and that the only recourse wil portions. Importers would then be to Government aid to ship undertale to buy

full builders and shipowners alike. amount of their quola of fixed.

finatico price sugar. They would not be The banks at present 70 percent of the cost of new compelled to buy their full cargo carriers, and are seeking quota of free suget, authority to raise from 20 to 40 Certifonics for this would be percent, the amount of the freely marketable.

EQUALISED PRICE finance which they at present...

fear

the

however,

advance for tanker construction. A system of weighting 'import A concurs licences also is being worked out buliding or repair. futaished by the trade to ensure that co- by the experience of the US. finers pay in equalled price for Hawaiian Steam Ship Com all imported sugar, pany. It appealed for tenders

The chief diniculty in the way for the

of three of

of of it free market for sugar, other thethan the fixed-price Common-

és the dollar pa each of 10,554 gło (ons

gross

and lem and of the C4 type. By the ad sterling, as the bulls of the dition of central Ecction of world's exportable

Californian and the Hawwa waalth me nood to protect

supplica

opening of

100 ft.

the deadweight of the

is dollar sugar, three ships was to be raised free markoot pught mean by drain from 14,040 about 20,000 tons

of dollars by heavy cott-currency 10 enable them

carry minerals and/or oil in

of

OL

A crop the size of today's forecasts plus 5.500,000 Sales carried over from the preylous year's

erops would bring the season to total supplies this 20.105.000 bales.

Domestic and export needs

London, Aug. 10.

but

ensure

saics of sugar for which British The Japanese tender was for importera paid dollars, qua

per ship in the face The trade is currently work-

to safeguards mpion from one Frenching on yard, one British yard and three dollar sugar is suld only for dollar or, alternatively that US. yards. The lowest tender

amounts from à U.S. yang was $3,173,- any

whileh could 113 per ship. The contract is officially be sold, for soft cur to be carried out in Japan, reacles equld be limited as re- Liverpool Journal of Commerce, quired.

trado belleves futures

The

Trading is essential for pulcient working of the free market. It

Grain Prices only actuals were dealt with the

In Chicago

The prices

CONTRACT FOR

In cents)

Boot

180

LANCASHIRE

Bapt. Déc.

March 1994

"Elay

181

· 187}={\" 191 1914-192

(No. 2, yellow per bushel In cents)

159 1963-1 1330-16

fa

building up goodwill acting on behalf of the

London,

Chicago, Aug. 10, export-import relationships be- No. 3 rubber per ib. Aug. 01.01% survival has depended on capturare currently estimated of $13

of grain futures tween members and non-mem- No. 4. rubber per lb. Aur Baying a foothold in odd corners of million bales. Some covering bers. These aspects of the pro- pot rubber unbated 27. mi-

markets where

of claims had was "in tvidence at the "close, today closed as follows' ---- . 65-08 1

out. But it traders reported. United Press. Wheat (No. 2, rça, per buthe fested

five-year world commodity No. 1 pale crope

been 71-70 may be that in -United Prem. were discussed at com- Potten meetings

LONDON MARKET

rate the survival, or at any

The London Aug. 10.

prosperity, The rubber market was very country depends on the develop

similar talent for quiet today. Futures, closed as ment of a follows:-

"market hopping."

Platt Bros (Sales) Ltd., Old-Com That might well mean a ham (Lanes) have secured pot radical reorganisation of the contract for cotton spinning Beat

of Bellish, export solos | machinery valued at £850,000 No. 1188 General market

not in Telt basis DEMIJA MANI! 10%

by uch'n "Way

placed the Crown Agents Estalo crepe

thick.

the well-tried for. the.

Colonies In

United sellers

22

methods

of Estate crepe agg, thin, sellars _2136-

in -United Press.

markets, but to Nations Korean Reconstruction long-term

op addition to them. Agency in New York.

directed sup is strictimes

The contract provider of the Gov

the Government' representa

spinning and winding machines tives of British commercial in together with accessories for tercets abroad, and at home, for three cotton spinning mills their failure to

exploit these Mexico City, Aug. 10, transient export opportunities. The first concrete step to- Perhaps too little is mald about **wards the formation of the emperomental Imitation of Indo-China plustres (per 100) #725 Mexican merchant marino will the Brith

businessman Film- be taken during the next for self-The Financial Times. Built For Russian months according to the Corl-

federation of National Wipers') Flushing, Aug. 10. of Commerce,

Exchange Rates

Business was · done in the local Anofficial exchange market this morning at the foligwing rates:-- V.B. dolar (per #1) ...ETCOSULES Sterling notes (per E1) DATA. Indonesian guilders (per 100) 10.50 Blam Ticals (per 100) Bingapore (Biraita)

Mexico To Start A Merchant Maring

The President at The first of three freighters

the Can- being built here for the Baylet federation has announced that a Union under the Netherlands, comeday will be formed with an Russian trade agrecinent --- I the initial capital of 16- 6,500 ton, Lena; -- has been pešos, ¡ADITTY-One por cyst' efe

launched here by the wife of stock

I will be Held by

the Soviet Embassy's Cornmer- ernment and 49 per cent offered cial Representativo in Amster to the public. Chiba Mail dain-China Ball Special

Spesial.

JAPANESE BONDS:

Japanese bonds

London, Aug. 19.

array!

(Tokyo diss Di

TORTO, ES of 1911):

Doc.

March May

(Prices per cents)

Sept.

Doc.

How for

Osla

Prices cents)

Sept Dec.

totalling over 50,000 spindles China Mail Special

London Foreign

New

Exchange

market would still be largely dependent on New York owing to the importance, of hedging in world suger trade, trade

quar ters my. They add that, a turn- over of 1,000,000 ton yearly In fact the figure would probably be acarér 1,500,000 tons would provide adequate basis for futures trading. - China - Mail Special.

LONDON TIN MARKET

London, Aug. 10, bushel

The tin market was very: steady today. Spot tin jumped. 12434 120 "Lay to ''£586 per ton; and

rosa 23 per bushol in three-monthis th

to £6834 Turnover was 03 tons 70%

For which 2p tons were for cash. 4743-14 Prices closed as follows: bustiel spot tin. Buyers

ellers 88551⁄2 nom. | Business

Soybeans-(Prices, per

'H' conta)

Epot

Sept.

NOY,

Jan, 1994

Starch

Three months tin buyurs

seltenais tusitors

Bettlement

• 24814-19

Bartoy-(Price per bushel in

Spot

10,

New

stour.

unquated.. Iblack,

--United

NY Stock Exchange

New York, Aug. 10%- Dow Jones alosing averogen Wall Street were as

fission In Taipei 30 Industriais

20 Rails

· Takel, Aug; 10% 15 Uinities

A Japanese economie musión 65 Stocks

of six arrived: today." The | 40. Bonds

a week.

275.82

105.00

*******

*$049

·10771

9540

155,26

United

| mission will stay in Taiwan for | Comm. Prices Index