1953-08-13 — Page 9

MESSAGERIES

P.O. Box 53, Queen's Bldg.

M

Outwarde ́"VIETNAM"

"CAMBODGE"

Homewards.

"VIETNAM"

"UAMBODGE"

MARITIMES

Tel: 20051.

M

PASSENGER/FREIGHT SERVICE

Leaves Marseilles

Bntled

.............. 1 Avg.

Graves Inngkang ........21 AugHAL ................28 Aug.

Hongkong

12-14 Aug.

27-28 APE

For..

Yokohama

Duo Marsailles Via

14 Sept.

20 Brpt.

Nalgon Salgon

via Marseilles to all Mediterranean & West Africs porta. via Djibouti to Madagascar.

"AURAY"

Gutwarda

"COURBEULLES"

"IRAQUADDY"

Honsuwards

"MEKONG"

"COURSEULLES"

"AURAY"

"IRAQUADDY”

FREIGHT SERVICE

Leaves

Europe-Sailed

• Europe-Salted

Hengkang

2 Sept

25/25 Sept.

.Antwerp-1 Sept,

1.raves

12/14 Oct.

Itongkang

For Japan Japan Зарап

For

-Keelung-20 Aus.

22 AUE.

1

• Keelung→

Oct: Keelung-20 vel.

5 Oct. 28 Oct. Nov.

.....Keelung-7 Nov.

↑ Baigon, Marseilles, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk.

Subject to change without notice,

s.s. "VIETNAM”

will sail for

YOKOHAMA AND KOBE

. on

Friday, August 14, 1953, at 7 p.m.

EMBARKATION:

BAGGAGE:

Passengers are requested to board the vessel between 4 and 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 baggage from the godown between 4 and 6 p.m. on the 13th August, during which period cabin buggage only may be registered. Passengers aro requested to note BAGGAGE must be registered as prescribed above,

that ALL

Compagnie Des Messageries Maritimes

Queen's Building

EVERETT

*

Tel: 26651

LINES

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

"NOREVERETT”

Arrives Salle

Aug. 23 from Singapore. Aug. 24 for

“"REBEVERETT”

Arrives Salls

Kobe & Yokohama,

Singapore,

J2

Penang, Calcutta.

Aug. 28 from Manila,

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

EVERETT STAR LINE

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

"STAR ARCTURUS"

Arrives Salis

Aug. 18 from Japan. Aug. 19 for Manlin.

"STAR ARCTURUS”

Artivos Salls

Aug. 24 from Manila,

Aug. 25 for Singapore, Port Swellen- hum, Penang, Mudras, Colombo, Bombay, Karachi, Khurramshahr, Basrah & Balurein.

"STAR ALCYONE”

Arrives Salls

Aug. 25 from Singapore. Aug. 20 for Naha & Japan,

(Aécepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa).

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

BUSINESS REGULATION ORDINANCE 1952

Coples of the prescribed Forms (a) 1(b) and 1 (c)'

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

HONGKONG AND KOWLOON

TEN CENTS EACH

THE CHINA MAIL, THURSDAY, AUGUST 13, 1953,

Improvement In U.K. Gold And Dollar Reserves In July

HONGKONG

SHARE MARKET

{From Our Correspondant).

Business done on the Stock Exchange this morning amouni- ed to $212,010.50. Noon quota- tons and the morning's transac- toru:-

SHARES BUYERS SELLERS BALES

BANKS

k Bank XD East Ana

1540 151

INSURANCES

Contoon

240

HK Fire

150

SHIPPING

Waterboat

30.40

Asia Nov ... 1.45 115

DOCKS, ETC.

K. Wharf. 45% Duck

Provident Wheelock LAND. ETC. HK Hotel HK Land

.. 11.00

IX 2000 or 11.90 1.00 8.65 2200 or 8.5

7.60

001 01 201

LARGEST SINCE APRIL

:.

The improvement in Britain's gold and dollar reserves in July was the largest since April and was a third higher than the average for the -second quarter of this year.

This is particularly encouraging as July can- not, for seasonal reasons, normally be expected to be a good month for the sterling aren's dollar earnings..

It i true that the balance for any individual month should not be given a great deal of weights: much depends on the fortuitous timing of receipts and payments.

moro

636m. from sld, ¡movements

and provided

It is in these final Gigures that the real results of dealings between the sterling and dollar areas are to be found.

SHIPBUILDING IN

Striking Economic FOREIGN YARDS Parallel COSTLY PROCESS

Pattorn In Britain And Germany

London, Aug. 12. The similarity of the broad economic pattern in Britain and Germany is at the moment striking, the Financial Times said today.

both

countries total Industrial production has risen above last year's level, and in both the current bulldlig boom has played an important part in the process.

"The revival in the output of consumer goods has been the other major contributory factor.

London, Aug. 12. While British shipbuilders are being criticised for their high costs It may be consoling to recall that costs in overseas yards are generally higher, and that the shortage of new orders that is begin- ning to cause anxiety in Britain has become more acute overseas.

In a fairly competitive world the prospect ought not to occasion undue pessimism in Britain.

If freight rates should contiaue at their current depressed lovel the less economie shipyarda. should reduce activity first.

A comparison of costs ***dimcult to make, but some in-

Sugar Prices Within

But the capital goods industries

edication of the relative standing Move

In Gukmany, which have. Mtown

steadily rising curve of pro- duction for some years past, seem to be incapable of rising above last year's level of out- put."

Nevertheless a markedly ime | ERU.. proved result in a month that other

The boom In consumer goods might have been expected to $51m. produce a poorer one is some-

in Germany zeems to be on a thing

than merely

much larger scale than in Bri- satisfactory.

tuin, the Financial Times states, It the figures for July are

Going un to discuss trends in with those compared

of June

for en- world export markets in detail this favourablu im-

gineering goods, the newspaper Is confirmed. pression

The straight comparison bo- declared: "The German statis In June $46m. was added to

tween 38m. in June and times make it clear that the de

clinc in new. orders for the reserves, of which the In July cannot, however, bomachinery la largely due to E.P.U. settlement, always for made. the previous month,

In July the total was $89m,

which $2m

from

came

|

SPECIAL PAYMENT

provided In the earlier month there $10m.

and American aid pro-was a special payment of $22m. vided $28m. All other gold and for the largo U.S. holding in 00 dollar movements produced only associated Electrical Industries,

$8m.

Properly speaking, therefore, after excluding Amorlean which is Irrelevant to the real balance, and the EP.U. soltic. ment, which does not refer to earnings in the month in which is paid, the July figure shows an Improvement of $1m, on that for June, an improvement to any single

S'hai Land Humphreys ..

1.40

-1615

of

UTILITIES

Tram

24.00

12

...... 21.10

23 1700 21.00

*

Peak Tram

[(3)

Peak Tr

INI

32.40- 0.49

"Light (0) 12.40 1215 000 C. Light (N) 0.40 8.43 3300 Electric

27 27.20

12 Macau Elec Telephone 23.10 21.00 100 21.03 50021.30

INDUSTRIALS

Cuinent ... 18.70 18.00 1000 18.80 STORES, ETC.

22222.40 500 47 22.00

2.40

Daley

Watson

Lane,

Crawford COTTONS

Ewo

24

911⁄2 2.00

6.00 1.00

MISCELLANEDUS

В

Yonutse

RALLY ON N.Y. STOCK EXCHANGE

Advocate

More U.S. Investment

Abroad

not attributable obvious factor.

Various reasons can be given for the improvement.

Certainly it is not due to the commodity

market. During July commodity sales aru nor- mally on a comparatively low level and prices of sterling area commodities do not appear on average to have been rising.

JAPAN BUYING

New York, Aug. 12. The United States Council of the International Chamber of Invisible carnings almost cer- improved, and it is Commerce today Issued a report thinly designed to induce more Ameriposable that the earnings of ail can businessmen to extend npanies contributed to the overseas operations,

Improvement.

to

Aro

Entitled "Doing Business It is also reported that there Abroad" the report is intended have been substantial Japanese of sterling with serve those contemplating purchases International business operations dollars, to rollove Japan's sterl and anticipate possible ob- ing shortage.

to

In addition there has been ex- stacles."

made in the The report said "Methods of cellent progress

Kingdom doing business, lew, customs expansion of United

to the United States. often exgainst and

this

apparently favourable trend-for of these opble factors only one, the Japanese purchases, is probably non-recurrent-there are several

to be sot. points

For one thing in July there was a deficit,

though a small and expected one, with E.P.U. WARNINGS

New York, Aug 12.

today Stocks rallied smartly

conditions under the leadership of oils and

different in foreign countries Iow individual specialities

and yet they constitute

no which met investment demand

Irregular special hindrance to investment The market

dragged

those who adopt an in- of the Passion for ly through most in the dulles trading in a month, quiring approach to them."

Obstacles dealt-with-included- traction Prices moved only a

exchange and the problang e way. Oils, helped by antara rerrictions, the failure of eliher nouncement of new discoveries nations to adopt

uniform theory had gains ranging to 3 points of taxation, inbour laws, restric h Texas Pacifle Land Trust. tions on corporate taxes and the

in Volume picked up sharply

Д

row

Lack of demand from Industry at home.

"There are

no comparable

which British figure

would allow one to judge whether the same factors are at work here. But there at least, clear In-

arry dications that delivery times for

of types

machinery many bought for Installations in this

much ro country have been duced."

The Financial Times drew at- tention to the decling of domes- tic ortiers in Britain and Ger- many.

"That does not mean that the capital goods industries are now moving into a roccasion; some of them are still doing extreme- ly well.

But it does scem that the tempo of the post-war drive for Industrial re-equipment in the manufacturing countries as well Da in the primary producing Drcas, la slackening off," this newspaper submitted. Mail Special.

China

PLANNING TO RELAX

THE BAN

Tokyo, Aug. 12. The Ministry of International Trade and Industry is planning to relax shortly its export bon -on-galvanised sheet,--sulphato,- penicilin and caustic soda to Communist China, Mr Ushiba, Director of the Trade Burcau of the Ministry, vald, -

He ao salt the Foreign Ministry is now studying the possibilities of granting per- mission for businessmen to travel to Communist China, but his Ministry believes such per mission should be given.

fear of the investor that his pro- This was partly the result of the last hour boosting the total party could

be taken away the tourist expenditure on for the day to 900,000 shares automatically.

higher allowance, partly of from 940,000 yemerday,

An added obstacle to doing trade Liberalisation measures business abroad, the Council said, and partly of the normal sun- was that

hat "State trading organismer decline in European pur-

acnerally develop into chases of Commonwealth tions monopolies and drive out private materials.

in

Nevertheless it is, the drat the deld. The enterprise operation of many such organisa E.P.U. deficit incurred this year, tions has

There are also the warming? Ushiba sold that actually resulted in lowering production."-Reuter, of the Treasury bulletin and of

the trade figures, with the sug gestion that the surplus may again begin to contract.

In rails, gains munged to 14 points. Motors closed unchang ed. with Crysler at $60, up . to $70% in their ex-dividend group. Bethlehem added to

Steel $5226

up to $384 US in the steels,

Of the 1,050 issues traded to

201 declined day, 482

and 203 The New

York

bond

Stock Exchange volume was at $2,370,000, and the American Stock Exchange volume was 330,000 shares.

Dow Jones closing averages:

30 Industrials

20 Rate

15 Utilities

Că. Blocka 40 Bonds Coinm.

index

Tuture

215.30 270.42 103.11 105.73 00.71 50.8i 107.56 108.03

05.45. 05.40 prices

150.15 150.33 United PreKE.

Export Ban Lifted

Colombo, Aug. 12. Ceylon has lifted the ban on the export of scrap iron,

Oficial sources sald not much of it is likely to find its way into

Communist countries,

Officials pointed out that the Export Controller has discretion

to refimo a licence for no co

port of strategic materials In which category scrap metal is included.

Bearish Mood

In Cotton

Cotton today

close.

New York, Aug. 12.

futures went lower

Indeed, the official view seems to be that not only is July's sur plus small compared with the need to rebuild the reserves, but that it will be followed by months later in the year which will show a considerably smaller surplus.

These warnings

obviously

the reserves of the

ATU

with

•

of shipbuilding in the principal | countries concerned may be

dorived from an analysis of the Sinall

orters placed overseas by United | States shipping firms,

dollars, in value.

Sugar

from

Range

New York, Aug. 12. futures continued to

DOWN

Since 1948 they have ordered 230 ships from yards outside move within a narrow range to- Americs, totailing 870 million day as traders awaited

the International Sugar The orders were distributed Conference In London. World as follows: Britain 103, Ger- No 4 sugar futures closed three many 53, Holland 22, Japan 22, points lower to one point higher France 1, Belgium 10 and with sales of 225 contracts. Sept.. contracts accounted for Sweden 0.

most of the total.

When it is recalled that Ber-

Domestic No. 6 futures closed fish yards were throughout the

one point period congested by long order 2 points higher to books their competitive pre-lower with sales of 249 - eminence appears even more tracts, mortly in the September marked than is Indicated by the and commission house selling and November positions, Trado

figures.

Woo 痛 fenture with support

mainly from scale-down urchase credited to short cover-

Is

comin

BUDSIDY INCREASE Unfortunately ship ordering| Ing.

determined as much by Reports from London Jester- reasons of national prestige and day indicated that an Interna- security as it is by profitability. total sugar agreement bringing supply and demand into balanco may be in the offing. Prices of futures closed as follows:

Contracts No. 4 (world)

Tam. 1054 March Miny

- Many overseas builders already enjoy Government subsidies, and there are signs that these will be increased to enable then to sept. tido over the present trend, Oct. towards stronger competition,

Thus in Japan an agreement Sy has been reached between the sept. political partico for subsidies to Spot (cenis per reduce the prices of steel for Japanese shipbuilders.

Cube)

Contract Ne

Sept. Now. Jan. 1954 March

May Jul

These, together with modernisation plan for the ship bullding Industry itself, are ex-. pected to reduce Japanese Sept shipbuilding costs by 10

cent,

per Spot-cents per lb, off

The Transportation Ministry estimates that the break-evon price of a 20,000. deadweight ton oil tanker will be lowered to $133 per ton, compared with the present $170.

The

ITALIAN ACTION

Italian Minister of Merchant Marine has disclosed

3.50

United Prodk

The Rubber

Markets

Singapore, Aug. 12.

a bill, to be submitted to the The rubber market opened Parliament in mid-1964, grant-

and

ta

ing subsidies and other help to steadier with sellers reserved with BOXYLO Continental Italian shipyards.

The Minister estimates that demand for lower grade.

The afternoon-prices-based- these yards have an estimated capacity of 300,000 tons yearly, bringing a little factory 10-

Prices closed while their orders totalled only terest. 200,000 tons, kbout half for follows:--- domestic, and half for foreign | No. 1 rubber per ib. Aug.

September buyers.

October The projected, aid will take No. 2 rubber par lu. Aug. the from of subsidies to rexico No. 3 rubber per 1, Aug. to a more competitive level No. 4 rubber per ib. Aug.

Spot, rubber unbaled high Italian raw material costs. Blanket crepo

Its amount is calculated to at- No. 1 pale, crepe tract a further 100,000 tons of now orders to talian yarda so that they may be

to employed capacity.

Referring to trade relations Mr Slates, the United

prospects bre that the United States in the next year will not raise its im-of port duties.

Measures of Government Sep-

United Press. LONDON MARKET

London, Aug. 12.

The rubber market was quiet. No. 1 RSS spot was quoted at

port to the les economic sections 184 pence per ib. Prices closed

tho

World's shipbuilding as follows: coperity are obviously demiging No. 1 RSS, pot to the prospects for the Brush Settlement Industry

PROLONGATION

Busines

General

market basla No. 1 ISS

10%-1#$%

19

Estato crepe Ag. thick unquoted Estate crope Aug. thin

saliore

-United Pres

NEW YORK MARKET

New York, Aug. 12. rubber market closed

The

from

He did not believe the United States will increase the import levy on china and procelain from Japan because the United States

Also they must prolong the President

1 not likely to authorise such a step..

period of adjustment which atra Even If the Import duty iscoms fikely, following the truce raised by the Anierican Con-concluded in Korea and the end

Such gre, it will bo vetoed by the of the prolonged post-war boom,

adjustmen Can

be today 20 points higher to 10 all day with increased have to be taken seriously, and President when it comes to thonchloved only by scrapping unpoints lower with sales of 44 bedging In evidence near the it is perfectly clear that, at White House, China Mail economic chips and, if necessary, contracts Activity picked up

by closing uneconomie yards, sharply

yesterday' ustil supply again meets de extremo slow pace, when only mantt of a gymunerative freight two contracts were sold.

The spot market contimsed to be prevented by Government to be featured by a lack of action the period of adjustment offerings at prices that would attract a larger volume .of. could be prolonged julefinitely.

Various

DETERM International

Interest factory ments exist for the control of World crude rubber stocks it acement Juno export subsidies, but

30. amounted unlikely that any of them can 62,800 tons against 817,800 be effectively brought to bear tons at the end of 1982. Pro- on subsidies of the Italian or

duction during the first half of 2. rod, Der Japanese form of subsidy on consumption was 702,500 toas

types. These

Bota 1953 came to 827,500 tons, and tako

Grain Prices even if the closing of yards is

New York cotton futures

Inadequate, Special. convertibility is closed 2 to 14 points lower, New

Commonwealth Orleans futures closed 8 to 15 a purpose of points lower. Offerings for the polley.

But, allowing for all this, it is most part were absorbed through all possible to take considerablo mills.

encouragement from July's thought to be against export agures, for it has been at the

sales.

Somo

demand

Was

Sentiment continued bearish vory point where the trend

might have started to

lurn

In view of the Government's - against us that it has moved in expectedly high 1053 crop fore our favour, The Financial cast which, traders belleve, in- Times. dicates an excessive supply this

season.

pro close The fact that prices bre

to the loan kevel he had to NEW VARIETY

minimum.

do keep activity 7. Several months are expected to

before clapec, however,

In Chicago

Chicago Aug. 12. Prices of grain futures closed today as follows:- Whenă -- (No. bushel in cents)

Spot

Dec.

OF COTTON

March 1954 May

Bombay, Aug. 12.

י.

this

non-

to

and Ir materials,

No. 1 rubber smoked sheets heation It must be recalled

were quoted at 23% cents par: that the British Government pound. Futures prices closed as

has long been criticised for follows:-

pricing of coal and stoel;

182 nout.

raw

1974

per

duni

Hept.

Id

a

technique which effectively

Dec.

140

subsidises the homie at the

March 1904

1303

of the foreign consimor. Palma Mall Special.

Nay

July

Sept.

Corn(No, Z, yellow, bushel in cents)

Spot

Supt.

Dec.

Mercha

Ceylon was a party to the quantity under loan is suficient- agreement reached at the recently large to have any noticeable

An improved variety of cotton Commonwealth Premiers Con- effect upon the free supply. ference in Lozion on the ex- Exports for the week were has been down in an increased area in Bombay State. The now port of sinftyle materials to placed at 0,752 bales against variety, which is stated to bo Communist countries. The only 22,827 bales. In the like period suitable for spinning highes cents) excepilon the made was in the a year ago---United Pros, case of home produced com- modities, Including rubber.

Router.

JAPANESE BONDS

Exchange Rates Japanesć bonda

* Businem' was done in the local Unofficial ·Exchango markal

Sterling notes (par #1) Aug 15.30

London, Aug. 12..

“A” (48 of 1009)

Lagalba 1007)

"B1910)

this

morning at the following 78{"#{ V.B. dollar (per 9)

Indonesian guilders (per 100) 18.99

Starticals (per 100)

Singapore (Stzalta)

123 Condos

Indo-China piastres (per 100) ..70

6474 717 1294

15

counts of yarn, was In tho Surat Sixperimental Farm Two PED Last year, Ure Which was tried in the

Bye-Prices per bushel in

11834 Oats (Prices per bushel m cents)

Dee.

new st

Acid,

showed good results in an area of about 2,000 acres. This year.

là cuộc 12.000 nerol

1024) 1012 tha

50ybean (Prices por buguel in cents). Spot Sept.

203 nom. #30-2497

the new variety nu: 041 NOV Ascultural, officials bellove M

Portion will be replaced | May by the new various in a few Tokyo 14# of 1926) · DO (Tokyo 89%. af 1913 97 Fears. Cotton, growers find that in cenfe)

Noel 01%% the yield from the new variety

New York Flour, 200 16. sack)||$13.50. is higher-China Mail Special..

Unlied Fress.

London Foreign

Exchange

Now, York Montreal

Amsterdam

(Price, por bushel in Fas

London

Copenhagena.

Brockholm Deutscho" Mark Blocked Mark

-19.34;

29.00 Did

LONDON TIN MARKET

London, Aug. 13.

The iin market was steady and quiet, Pricha closcii - follows:

5002 un burare"

Tures mantra tla, parkin

Ekisiness Settlement