17
MESSAGERIES
PO Box 58, Queen's Bldg.
THE CHINA MAIL, THURSDAY, AUGUST 27, 1953,
MARITIMES GREAT BRITAIN'S EXPORTS
28661,
M
PASSENGER/FREIGHT SERVICE
Hernuwarde-For-Europe "VIET-NAMI"* ·
Lenyen fongkong Salled
Site Marles VIA ... 14. MORE.
Salgon
dla Marschlies to all Méditerranéun & West Affles ports. via Djibuuli to Madagascar.
Outwards From Europe
"COURSEÚLLES“
"AURAY" "IRAQUADDY"
Homewards, Por Europe
"MEKONO
"COURSEULLES”
"AURAY"
"IRAQUADDY"
FREIGHT SERVICE
Leaves
› GarageMalird
Kurope-Baßled ... Antwerp- | Bapt.
Leaves
+ › Kasinung-
Aug. Keelung-4 Oct. Keelung-30 Oct.
Due Duhgkong. Kor
Japan
2' Heple
29/30 Eept. Japan 12/14 Oct Japan
ཟོམ་/y P longkana
21 AUE.
A Oct.
Nov,
1 NOT.
For.
↑ Saigon, Martellles, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk.
Bubject to change without notice,
EVERETT
LINES
EVERETT ORIENT LINE East regular freight-refrigerator-passenger service to Koren, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.
"REBEVERETT”
Arrives
Salls
Aug. 29 from Manila, Aug. 30 for
Singapore,
配 Mangoon
"BRADEVERETT"
Arrives
Sails
Sept. 15 from Singapore,
Big Increase Unlikely To Materialise This Year
HONGKONG SHARE MARKET
(From Our Correspondanti
Business done on the Stock Exchange this morning amount-
Tin Output
Policy
Achieving Restriction Wanted
Little Chance Of
Surplus Desired By Butler
Aurrebae
London, Adg: 26.
The big increase in exports called for by the Government is unlikely' to materialise this year, according to recent surveys in the main overseas markets for British goods.,
There now seems little prospect of achieving the
ed to $201.977.00. Noon quota-£300 million payments surplus which the, Chancellor of ilona and the morning's trans- the Exchequer said, in his Budget speech would be
necessary for national economic security.
actions:-
SHARES BUYERS BELLERS BALES
BANKS
1K Bank East Asia
INSURANCES
Canton Union Underwriters HK Fire
SHIPPING
Asia Nav
DOCKA, ETC.
K. Wharf Dock Provident Wherlock
1500 183
54 1510
በቤና 8:5 66.10 150
... 1.40 1.50
91.00
n.co
22 1000 22.
2400 11 8.05
200 or 11,00 500 i 8.04
7,00
# 2000 #
Sthal Land.. inphreys..
1.35 1.50
900
10.20
UTILITIES
Petung,
l'eak Tram
(0)
..
Culcutía,
Penk Tram
(N)
45
21.30
Star Ferry
122 XD
Sept. 10 for Kobe & Yokohama.
(Accepting cargo for transisipment
Kebe/Pusan 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 ALCYONE”
Arrives Solls
Aug. 28 from Shugapore.. Aug. 28 for Naho, Kobe,
Shimizu Yokohumu, Nugoya.
"STAR BETÈLGEUSE”
Arrives Sails
Sept. 17 from Singapore,
Pusan, Sept. 10 for
Yokofumia.
"STAR ALCYONE"
Arrives Shils
Sept. 20 from Japan. Sept. 21
LAND, ETC.
HK hotel...
Hi Land ot
Tram XD... 24.00 24.00 500 @ 24:70
C. Light 101 12.50 12.70
200 12.50
200 12.7O
500 6 12.80
300
8.85
27.40 2715
21.00
500 m 2714
1600 22.10
C. Light (N) 1.85 Plecitic
Macho Elec
Telephone
INDUSTRIALS
Cement .......... 18.00 19.10 2000 x 13.90
17.00
Rope
STORES, ETC.
Dairy .....23.20 23.30 200 23.20 1000 23.30 1. Cenwford
Wing On
(1.K.
COTTONS
FWORD
Texille Cory.
MISCELLANEOUS,
Osaka,
Yanglaze
&
Kobe
&
for Singapore, Port Swetten-
Madras, kam,
Colombo, Cochin, Dombay, Karachi, Khorramshahr, Basrah &
Buhrein.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP_CORPORATION S/A
Lincorporated. In the Repubile of Panama
With Limited Liably
1.
Queen's Building, Telophone 31206. Chinese Department: Tolophono 28293.
New York
S.E. ASIA
Foreign Exchange
Canada
England Omelal
++
Auslimita
unoficial
Now York, Aug. 28.
$10135
2.61 2.C8-2.71 2.4)-5/16 2.001 2.25% 2.007%
30-day future
90-day future
New Zealand
Soy:h Africa
Belgium
Dramark
France Grenany
Holland
Korway
Portogal
katy
ECONOMY DISRUPTED
Singapore, Aug. 26. The low price of rubber to- day is threatening Southeast Aglan. vconomy in p, manner that gives the Communist creed Its disruptive opportunity, the 2.31-15/16 Straits Times says in on cdl
torial this morning.
0300
1433
204
23th
.2003
0061
.1405
.0330
Sipuln
.0215
Sweden.,
.105
Switzerland
23341
MIDDLE EAST
Egypt
2.0014
Iran
233
Iraq
0231
Turkey
3575
LATIN AMERICA
Argentina
0723
Brazil
0550
.D021
4025
1.00
Mexico
2104
Peru
0693
Uraguay
3630
3003
FAR EAST
India
3114
Takistast
3043
1700
0305
Bolivia
calle Columbia
Cuba
Hangkonit
Indonesia
Singapore Japan
360 yen to US$ -United Press.
LONDON TIN MARKET
52
+
1132
100 7 53
3.00
Unless importa fall sharply, a continued trade déficit
is probable.
pro
pub- Reserve
Merger May Have Decisive Effect
The encouraging news that But, the economic reports exports in July find been heavier lished by the Federal than in any month since, Spring suggest strongly that this is last year inspired optimism in primarily due to the amazing the City; but the grounds for boom in American incomes and optimism
Blender. The consumption.
TWO FACTons short-term prospects are for a lower rate of exports in August, Outside the dollor area, sales the holiday month, and Septem-of British goods are severely
Behind the merger of Canada's ber.
Britain's And
longer-term forecasts limited by two factors beyond Massey-Harris and vary
between...predicting. the exporter's control: the im- Ferguson Ltd, there may Hea modest, hard-won increase on port restrictions practised by revclution the farm imple- the earlier. of the
countries, and ment business-revolution a recerti
sterling to which will affect, farmers around the acute
oris in. at spend on. British, exports
countries. Important restrictions
year, and Comm shortage of :
a
if
however alight, in, America, should dayclop caisstrophic tumble,
least four
The high. polat of the July Import cali
returns was that shipments of North America broke all records.
ANOTHER
WALL ST. DECLINE
New York, Au 20. Continued Back of interest turned A modest advance in
of controls
at the world.
In theBetween them, they own the baye. chiefly workd's biggest tractor, business blighted the Australian market but British businessmen, be And although a further slight leve there was more than the casing
more advantage of a combine is hoped for maxi mouth, when the Australian behind the multi-million-dollar Government
produces its Bu- move. get, is may well decide in view of it, dependence on the un Certain American market for wool — on Д cautious Import policy.
The sterling shortage in two coses-Egypt and Persia-ts the indirect result of international politics. In the rest, it is the
of commodity-exporting
trying to
For the past 10 years, the Ferguson company has had a team of top-notch engineers pioneering, new developments. So, for, nothing startling has appeared on the market, bụt it is understood new plans which would revolutionise the business are on the trafing boards.
Massey, Harris
president
the third in a row for a loss 214 2.60 100 26716 in foibl lock market valuations of more than two billion dollars.
During most of the session to
stocks held above day
their previous close in a technical re-
stocks today into another decline their prices above won, maintain James Dungan was reported; to level. The two worst cases are be cool to the merger idea-until Brazil and Argenting, Negotia- he was shown the top-secret former's sterling debt are going
settlement of the plans
new the Whether or not stems developments
come through on, but agreement
(N) 06.15 2302
Irregular Tendency In Cotton
New York, Aup 26.
tions for a
still
At their bag, industräals some way of the sterling gup there will be distinct advant
covery. were nearly one dollar higher on average, rails about.70 ccats and utilities about 75 cents. Activity diminishak however,
The size of
firel
problem in these four countries alone can be seen when it is to them and with realised that exports
Britain in the no interest to support - the ad-
Ave months of this year were, down vance, prices drifted off.
38 per cent of the menthly in 1951. This drop repre- sented an annual loss of export earnings to Britain in the region of £90 million.
MORE COMPETITION The only quick remedy wou! appear to be a sharp reorienta tion of British exports to those
countries producing the one raw
agesi tho, lon Massey Harris are specialists in reaplag the harvest, Ferguson specialises in soil-filling, machines. Fooling will permit one firm to sell a complete range of the machines on the market.
‚་:,"རྞ་་
best
Will didnts, the
IN LONG RUN Between them, they control four Canadian Ave, in thế Vpted, States, prayling, Ferguson plant, at and smaller plants Stow-on-the-Wold in England,
in France,
Cotton traders today, tried to radustrials fell 94 cents to their material-oil-for, which there Germany and. South Africs.
Volume totalled 1,000,000 to shpres
Ralls led the early Xesterdag, red with 1.470,000 zate advance, with gains ranging to more than and point. They held fairly well, closing only 24 cents lower on average with
Justments.
of this in ex-dividend Nevertheless, rall average was at its lowest level since October 30, 1952. Ind
In the lops run, say the com- June 10 price level, Utilities no lack of demand, and which
have na lack of foreign ex- pantes spokesmen, it will mean, were off four cents after mak change to spend. It is signia at least, cheaper tarin Imple-
allowance for an eight-cent cant that Board of Trade ments. Ing Following forenbon gains up ex-dividend adjustment. Prices mission will be leaving, London Each branch will be able to to 35 cents a bale, the market turned irregular to close off in the latter group were 1/8 or shortly for an exporters' tour of
conzestrate on the types of side of the pre Middle Eastern capitala
the three, to to six points. Opening visus as a general-rule
point
Implement, which, troduces unchanged to up
Here, as elsewhere, the main most.
most, efficiently. prices weTE
Parts and soare three points. Now Orleans In Industrials, Chrysler fell
available point to a new low,, General hope of expanding. British ex- for all types will be 3/4
the closed, eix six to up two points.
companies Motors, 1/4, also to a new low. parts lies in building up sales of everywhere
wmachinery, industrial plant, and operate. The lack of buying interest US Steel set a low with a frac mach
In Canada; it will make little capital equipment of all kinds, 1ew Д was discouraging to the bulls tional loss. Oils had
Yet
Britain,
and Germany,
keep Tuesday's lale rally going bus the effort flattened after the opening.
By Thailand
Bagok: Aug: 20. Thailand is keen to see International conference discuss I achame to restrict the production of tin and also the craation of tin, büffer, stock, Nai Pathom Kachaßent, director. general of the Mines De- partment, anïd today.
Page
Opposed To Cut In Wool Raw
Imports
Tokyo, Aug. 20.,
The Japanese wool spin. ning industry is vigorously opposed to a reported - plan' of the Finance Ministry to cup raw wool, imports, from Australia from October, a spokesman of the Japan Wool Spinning Association sild today.
The spokesman said the plan was reportedly designed to re- llevo Japan's growing steeling shortage and adso to compet interense importa
·10
A cable carrying this sugges- | Australia flon was sent to the Tin Study from Japan. Group, urging early, action, and The spokesman sold the Nal Pathom, said it, was hoped Japanese wool planing industry such a conference may be held would like to secure Imports of October, possibly in Geneva. 130,000 bales of raw wool during the current financial year (April -general of to March), of which 90 per cent Taalland's directe” – the Mines Department. said a shoufti come from Australia.
The spokesman raid this was restriction...scheme and,buffer Block were, both necessary if particularly necessary in view of producers were to remain the recent high domestic price operation. However, he conceded trend of woollen and worsted that the extent of the restriction goods in Government's policy to which the might pose a major problem as Japanese countries Jike Thailand and encourage exports of these goods Bolivia, which depend largely on was mainly responsible.
He further pointed out there tin for their export trade, can-
had
been strong .
consumer not afford an extensive cut in
resistance to mixed woollen and production.
staple fibre yarns, with the result that some mills were Nal Pathom said, therefore, 1
the danger of a. was possible that opposition to fucing the of
drastic a restriction scheme would come curtailment. operations from
unless the-consuming | next your.......
raw Wool ere secured. жете Imports
Jupanese Government
not only from
countries but from the produced from Julynne
tion nation9.
He added that in his talks
of
with tin people during his recent system under which caporicts i tour even the Americans con- woolle and worsted
goods eeded that The United States were given incentives allocations may not be able to continue of. Loreign, exchange for raw
wool making stockpile purchases very
Imports-China Mail much longer anț Indirectly had Special, that some restrictivo agreed scheme was needed.
mntive
PRICE STABILITY
was to
Acetate Fibre
Production
Tokyo, Aug. 20.
The director also said a buffer stock would help to maintain Prico stability because price celling and doors could be muin- tained or the benent of both consumers and producers,,
He said if either of the two
The acetate division of the ach be agreed propesu's could upon
the International Japan Chemical Fibrers. As- in Conforace, the only her sociation has submitted to the Trade and In- have bilateral International acts
dustry, Ministry
to a plan He stressed that Thall increate production of acctato in Japan to 50 million must find new markets for Thai Abres tin. He added that because. That-lbs. In the 1957/58 seni year.
The plan was accompanied by land did not smelt its own pro- datet ita irade was limited to
for request.
Government Malaya and the United States. financial aid. He claims many European coun- tries can use Thattin but are reevented from making direct They do not have smellers for the purchases, from Thailand because
ore-United Press.
Vessel's Motor
Keel Laid
Schiedumi. Auk! 20.. The heal has been inld....here for the first of four 4,500-lon motor vessels, being built for a Venezuelan firm by Dutch ship-
and was attended with scale-up | wide moves in olther direction. America,have all experienced a year difference to the 103- yards.
hedge-selling.
Nothing hap-Dow Jones closing averages pened in the, overnight business to influence market sentiment,
traders said.
ས
Attention again was transfer- red to the higher stock market and the reactionary swing in grains, Crop news was con- sidered mostly favourable apart from the mention of dry soil conditions in the North-Central portions of the main cotton belt.
Massey-Harrio Ar
.by., GovernOTS
falling demand for, for example, once James buite
30 Industrials
as of
20 Ralls
.24 off
16 Utilities
.04 0x
and
05 Stocks
.28 of
40 Bonds
.03 DIT
Comm. future prices intlex
.46 of
United Press.
Sugar Pact
Welcomed
market
of the
+
.05%
The
Massey-Harris anisailon will also deal with Ferguson products. Each, how- over, will continue to bear. its present brand name and not the cumbersome... Massey-Harris - Ferguson label.
Caracas.
The Association said 15,800 million yen will be required to achieve the figure.
for The plan calls annual
million lbs. output of 25
of acetate
rayon, another 28 million lbs. of acetate staple Abre and 50 million lbs. pf acetyle cellulose Д *yçar. China Mall Specia).
Rubber Prices In Spore
Singapore, Aur, .26. The rubber market ductuisted
narrowly round, yesterday's losing with sellers reserved, Prices were;
No
-United Press.
the first is the Merid being prime movers, General
10: the, Compagni textile cultural,
Venezolana machinery. Duncan Will, stay, as president
de Navigacin of
rubber per lb. Aug. 6414-05 could.
054-85-% only
Reptember Here, exports
of both companies, though BH, putselling
October................... fictain's
unquoted maintained by
The Harry Ferguson will be
shipe con
12 No. 2 rubber per 1b. Aug. 132 Germans and Americans. And chairman of the board and will
sard passengers beside office and | No. 3 rubber per lb. Aur. competition is becoming severe have charge of the design and
crew.
No..4 rubber per lb. Auji, They have refrigerator The ominous truth is that in development divisions
Spot rubber unbaled space for the transport of ment
Blanket erepé recont years American Joint firm...
ond vegetables, China Mail No. 1 pale erepo Germans have both managen, 10
Special expand their share of cry, while
for machinery
of, Capital Britain's exports
absolutely goods, though
though wangu, Butler have slice of the total world market... Unless this trend. fa,imost The Influential English
mirbculously, changed, the pros- language morning newspaper
The market's proximity to the The new International sugar Feet of a substantial increase in was commenting on the warn-
generally wel- British exports as a whole can- loan basis. continued to disagreement. was Ings given
Sydney by Sir
cling but camed today in commodity and rat under any conceivable cir courage aggressive Palmer, a former chairman of
cumstances be said to be partl buying. Interest was chocked by trading circles in the City. the United Planters Association
considered .It was
a more cularly optimic. of Malaya. and the Indonesian the large supply prospects. Trade Charge d'Affaires In Washington. reports indicated that in various intelligent and efficient agres Commonwealth The Indonesian
representative sections only about 40 per centment than the
of the crop Was moving julo sugar agreement, Traders said said that unless Indonesia could sell all its rubber at a fair price, commercial channels with the the most outstanding virtue of dith-balance being held for the loon. the new world agreement was grave financial and social culties would arise.
Prices of cotton futures closed today as follows:-
cditorial warns the The American State Department that it must reallso that it will be mcult to expect Malaya and Indonesia not to turn to Communist markets in support
of the price of rubber.
The Government weekly crop summary pu./Tucudayitated that drought conditions there were expanding and becoming more
sovere,
Spot
Oct. Dec.
March 1954
BERX
July
Oct, Dec.
24.02.
34.00
33.84
nom,
33.50 bid
31.01 btd United. PreRN,
NEW ORLEANS PRICES
New Orleans, Aug, 20. Prices of cotton futures closed today as follows:--, Spot Oct. Deo, ATRICH
The State Department, the paper adds, is well aware of the dangers and of the damage which is being done to the American reputation,
the fall the price It
that rubber; now there is a small surplus pro- - cuction, has hit the smallholder the hardest and for that reasony May It has hit Indoneslu eyen harder than 4 has Malaya.-United Press.
of
.,་
London, Aug 20. The tin market was steady and quiet. Spot gained £2 to
three-months in JAPANESE BONDS 20127, and
£0004. wasimchanged Turnoyer was 25, tone, of which five funa "Wero for cash. The
closing prices were:
Spot dia, buyers
Hipot tin, wedloval
.ot
Three mposha Alo, kayasa Then manine din, sellers
Bettlement
010
BIRI
Japanese bonds.
"A” (14 of 1800)
(46 of 1910 "C" (be at 1907)
1000)
London, Aug. 20.
ล
10132
1
00716
**** [TOKYO, SISW OF 1029)
FILLS
Gizli Consoly
41
Ünited Press.
United Press,
3347
13.74
33.98 bid
July
$3.00 bit
Oct: Dec.
33.53 bid
Unked, Press.
London. Aug. 20.
its flexiblity at y
On the other hand, they said the Commonwealth, preement was characterised by its rigidity and tied up between 80 and 90 per cent of British Empire and Commonwealth sugar at a set prico, a price which might show a big gap compared with the world
HE
No conts about the prico
were heard in Mincing. Lane, the contre in London of the markets, and the commodity price range was termed "fair, and reasonable under present circum- stances."-United Press.
PE
London Foreign
Exchange
New York Montreal
Exchange Rates
e Rates Amsterda
Brumels
Buhinata was done in the local Owlo
exchange market this Zuriel:
unofficial
morning, at the following rates Copenhagen
7.3, dolar (per $19 juub
Stering moles (der £15 WI. 533 Stockholm
Indonesian gulkereix per 1001 zum Zaban
Blom teals (per, 200) ...... 32.001 Deutsche Mark Singapore (diretta)
Indo-China plastres (per 100)
Blocked Mark
London, Aug 10
2.81-5/16-231-0/10 24.
140,3540.35 19.0836-I90015 12.17-12.171 (192636-19.5674 10778462-07715
79.33-60.10 -$1.70-11.7091 .174-1794 -United Press.
Grain Prices
In Chicago
Chicago. Aug. 20. Prices of grain futures closed today as follows: Wheat(No. 2, red, per bushel
In cents)
Spot
Вро
Doc..!!!
139 Horn. 14942415 192-TOLER
Sugar Prices Decline
New York, Aug. 20.,
closed today two to eight points lower with sales of 141 con- tracts
More Co-operation Needed In Asia
Greater co-operation between Asian govern- ments would simplify their individual economie problems, says The Economist.
up
World No. 4 ur futurest is absurd, for example, that Miny of Burma's customers
Burmä should be squeezing have been reluctant to lako mency, out of its neighbours for their allocations and, there are its.... own
development pro- reports of growing unsold sur- gramme, and thereby threatening pluses piling up in the country. the development, programmes of
OBVIOUSLY WORRIED there other countries for example, Ceylon.
Domestic No. 6 futures closed point higher unchanged to one with
contricts. dues of 53 Easiness in the world tract reflected Hiquidation
COT
In recent Jedis
Burma
hús
following reports that the Cuban Sugar Institute. sold, $2,000, tous of rows to a private dealer in Chile at five points below the last tanded bas
Domestle futures, were quiet with...little. Important change.
Futures prices cloned follows:
44
Sept.
Dec.
.. March
May
inst Corn (No. 2, yellow,
in..cents)
29546 19434-15
per bushel
Sept.
25235-**
March (1954
24596 147-147
Contact No. 4 (World)
10514-jä 1113- bushel in LAY
731-10
October January (1954) March
5.30 LIF
340
July
Bepterabor Spotfoenia per lb. tab.
3.34 nom. 3:40 núm.
Bro-(Prices per bushel in centsy September
Sept. ---Dec.***** Oats (Prices
cents)
Sept
Dec.....
Soybeans(Prices per bushet Cuba)
in cents)
Spot
Sept
Nov.
nom
3,51 nom.
31 ма
T
The Burmese government has not so, får shown any sign of
ex
taken full advantage of its stroife reducing its price, though it. I position in a sollers shotket to obviously worried. Indeed, it exact high prices for rice sold to has sent goodwill trade teams to neighbouring: Southeast Asiao various countries, presumably in countries. As the entire rice order to sound out the markets.
eport Traders in the hands.
The government's own export
Jou is that pronts fromable Burnieso
the. vingation is government body, the
ent has been able to sale of fice are an. government has
unles to part of its revenue and that it is dictate, pric neighbouring countries the price working on an ambitious, plan Has for, economie, development... to an government contracts has been 26a per fon, which is more cost more than £500 million by £5 per ion than the price over eight years,
Most of this will have to b paid by Ceylon for Chinesotice.
It is impossible to make..... 6 raised Infernally as Burma, for comparison with the so-caldă reasons of its own has refused free....market
arket prices which
American ongo
Ridi bul
some help fear, 280 to 200 per ton, as may be forificoming train the
in. Burris, of, the economic positioni
or anothoritarnational Bank which has 4
these ora artificial. markota
one way of in. outside competition. government action.
There i
however, general impression be
frescat
the problem - would
thaf...since joupply Hàn nóm the Burtone COUR-
September
tected
November
JL (2006)
Jussuary (11054): March
March
Barles(Price
per bushel
Juhlar
0.73 bid
4,50 sake:
·B.70, arferd 8.74 now.
September
abck 13.40 -United. From.
1 day
rents)
Spot New York Hour, 200
November Spot cents per 15.
1.92 United Pres.
could be persuaded to
caught up with demand the price adopt, amoros-accommodating asked by Burma is out of keep-attitude in regard to future sales- ing with the current market of rice, The Economist coas situation.
cludes..
No comments yet.
Private notes are available after approval.