1953-09-02 — Page 9

MESSAGERIES

"F.O. Box 19, Queen's. Bldg.

M

MARITIMES

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 2, 1953,

MALAYAN OUTLOOK HARDER

M Situation Continuing To Improve

FAST PASSENGER/FREIGHT SERVICE

Ontwards (from- Europe) Leaver Marseitten "LA MARSEILLAISE" 15 Hept. "VIET-NAM

"CAMBODGE"

Uct

31 Oct,

Homewards (to Euror) Leaves Hongkong "LA MARSEILLAISE" 21 Oct, *IET NAM

"CAMBODGE"

) Nur. 11 NGY.

Bue Ut.16.

1 Nov. D. Nov.

Fot Oct. Yokohama

Yokohama

Vis

Dup Marseilles

13 Nov. Balzon

29 Nov. Balgon Batrón

Via Marscities to a Mediterranean & West Africa Ports Vis Dibouti to Madagerðar.

FREIGHT SERVICE

Lett

La Patlico, & July ..Antwerp 27 July

••Antwerp - Sept.

Outwards (from Europe)

"COURSEULLES“

"AUBAY"

"IRAQUADDY"

"COURSEULLES"

"AURAY"

"IRAQUADDY"

Homewards (to Europe) Leavey Keelung

Oct.

15 Ort.

7 Nov.

Due .. For '4'topt." stabila & Japan 29. népt. Maplis & Jaben 12 oct. Mantik & zapen Leaves 11.K. Fot

7 Oct.

1 Nov.

NOT.

↑ Saigon. Streepare, Djibouti, Marmellien, Algiers, Oran, Tangiers, Casablanca, Lo llawre, Antwerp. Rotterdam & Dunkirk.

Bubject to change without notice.

EVERETT

LINES

EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, l'hilippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.

“BRADEVERETT”

Arrives Shila

Sept. 17 from Singapore.

Sept. 10 for Kobe & Yokohama,

"NOREVERETT"

Arrives Salla

from Manila, Sept. 20 Sept. 21 for Singapore,

& Rangoon

(Acceping cargo for transhipment Kobe/Pusan and Kobe/()kinawa) -

Penang, Calcutta,

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 BETELGEUSE"

Arrives Sails

Sept. 10 from Singapore. Sept. 17 for Pusan,

Yokohama,

•

“STAR ALEYONE”

Arrives Sails

Sept. 20 from Japan.

Kobe

&c

Sept. 21 for Singapore, Port Swellen-

Penang, រំum,

Madras, Colombo, Cochin, Bombay, Karachi, Kharmshahr, Basrah & Balirein.

(Accepting cargo for transhipment

Kobe/Pusan ang Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION'S/A

· (Incorporated in the Republic of Panama

With Limited Liability

Queen's....Building, Telephone 31206. Chinese Department: Telephono 28293.

Gains To Business

1

From Gold Sales

New York, Sept. 1.

Businessmen in the United States and abroad have both benefitted by the recent high level of US gold sales to foreign countries, financial circles pointed out today.

The Rubber

Markets

After

Miners

Encouraged By View On Tin

Talks

US

TIMES

AHEAD? For Nationé Gold

Reserves

London, Sept. 1.

Finland Facing Crisis In Export Industry

The wheels of Finland's vital export indus tries now turn only at half speed. This summer many gaw-mills and cellulose factories are stand- ing idle for long periods.

In the face of all the The situation in "Malaya continues to improve, and this is reflected

evidence of a bountiful Meanwhile, workers find employment on the in the higher morale not only among the security forces, but also among

supply of dollars to the land until the harvest is in. Then, the effect of the planters and miners and the entire population, both European and

world and the prospects of the export crisis will finally be seen in the Asian, says the Kuala Lumpur correspondent of The Financial Times.

its continuance, the Na- unemployment figures, and so brought home to The miners have derived some encouragement tonal City Bank of New the layman, who has not yet felt the impact of the York is not alone in warm threatening economic depression about which from the news that the U.S. has agreed to the reg of possible harder convening of the United Nations International Tin times ahead for the reserves Finnish politicians have been talking these last

German Bid In Asia

1-

Singapore, Sept. 1. The-arrival of the German ship, Westerstein, in the Sumatran port of Bolawan recently is viewed by some quarters in Indonesia as a German bid to restore their trade position in Asia.

A dispatch from Djakorta mid the Germans (in Indonesia) wanted little time in extracting full publicity. for the ship's arrival from Bremen en route to Yokohama. When the Wes- terstein put into Belawan, the German "authorities rushed high Indonesian officials and preste men aboard for a gala luncheon and a tour of the newly built ship, the dispatch said.

410

The Westerstein is the first of

Acet of seven passenger

freighters to make the East Asia

run

The dispatch quoted the Ger~) man newspaper the Hamburg Anzerigieras warning that this new service will be fully utilised by German traders reviving German trade with the Far East."

Conference.

of other countries.

This is interpreted as indicating a change in Some other New York bank officials believe that the outflow the American attitude from that of outright oppo-

of, gold from the United States sition to control of tin to that of likely co-opera-

is likely to halt son, mainly tion, making an international agreement a possi-because U.S. economic akd will continue to decline, milit- bility,

ory aid will taper off in a fow

and' months,

Congress has shown no Inclination to flash trade barriers so as to

allow foreign countries to earn more dollars by selling more to the

OF

Rubber producers generally, rubber producers is opposed to что more cheerful than they any form of buller stock for were six months ago, the feel rubber.

European planterà regret the ing being that the price of rub- ber will romain within the 60-70 | dimppearance of bonuses centa a pound range for some commissions with rubber at time. They have beko en present prices, but they accept disappearance because couraged by several reports that from consuming countries, all | there is no alternative. indicating increasing consump→ Planters are not so difficult to tion of natural rubber,

obtain as they were 18 months

continue to predominato

Successes against the bandita go, and most agency houses have andupplicanda ready to All even the pocurity force casuallies to de-

casual vacancies,

eline.

Te provod security position and the easier labour

has perenkled smell reas of jungle to be feiled for planting, but other casualties ing programs has been postponetli dar many cises for lack cự cash resources,

A stoop

The number of banci.-staged ineklents also shows decline, and bandit pre Inflicted mostly in am-

bushes and traps act by the security forces on the basis of Information received from the public,

the

Public

confidence In Government is Increasing, and consequently informants longer fene reprisals as they did

no

Some producers continue to complain again delays in the nafunding of replacing or sees by the Govertment, which Svens collected as long ago as 1951.

Machinery for the quicker lid of all esses refundable to states is now being organlipd.

FINANCIAL SITUATION

18 months ago The stern measures taken by the High Commissioner against defauiting The Anancial situation of the villages have not been" without Federation gives" "gruse for con- effect, and the rural population cern, but there is no question of The newspaper was reported no

now has to conder whether the Federation being elther to have charged earlier that co-operation with the Governbankrupt or insolvent. Dutca

shipping and trade in- ment of aid and assistance to A substantial doficit has terests were trying to block the the bandits is the better policy, undoubtedly been incurred this

in revival of Gomon shipping

year, but general revenue and the The auxiliary police dorée was being Indonesia. The Anzerigier

dibantled as necanulated surplus can take eing gradually

care of that, while the $100m. reported to have charged that teams of agrement expire, and

an additional factor is that a estates and mines with probably security loan recently completed

portion Indonesin's soon have to provide their own

can be used to offset part of the larga economy is still in Dutch hands special constables.

deficit. and the Dutch do not want 'to the Germans reopening a shipping cervice In The Far East."

dispatch ald

tho Wasterstein is bullt to hold latex and German shipping sources in Indonesia raid the vessel would carry rubber back to Bremen on her return trip to Germany United Press.

see

of

Grain Prices

In Chicago

Chicago, Sept. 1, Prices of grain futures closed today as follows:-

Wheat (No. 2. red. per bushel in cents)

10% non. 19014(11) 1852 (L)803-190 1941-193 1072-198 1901-4

10739

14716-4

TIN AGREEMENT

After the Emergency the mångest main tople of discussion is of a redriction agreement and a buffer stock for tin,

The great chority of them favour both an International g-cerent and a buffer stock, but thay point out that even if on agreement is reached it will be at lonst nine months or year bafone any such scheme funcilors, and that this delay may be serious the price of in demes tu H tier.

A minority of the miners is opposed to International control in any way, mamtaining that Malaye is a low-cost producer generally, and is in a strong com- politive position vis-a-vis In- donesia eni Bolivia.

In the meantime, the Federa~ Lion's yields from income-tax are increasing, and during July were at the daily rate of $im.

New

York Sugar Market

New York, Sept. 1. World No. 4 sugor futures closed unchanged to four points lower with sales of 255 con- tracts. Domestle No. 3 sugur futures closed unchanged four points lower with sales of 91 contracts.

to

Dealers attributed the selling In the world contract to further declines in the Cuban raw price while domestic contracts soft- ened under hedge-selling. Prices While the economic conse- closed as follows:- quences of the closing down of Contract No. 4 (World) many Chinese mines may them-oct. selves be serious, the, political | Jan. 1954 Cones also demand con~ | Mareli

Sept.

May July

weeks.

over-bigh

#

or

Jess

PROPOSALS WITHDRAWN

arma

i

trade policy

she

Finland faces the forthcoming and with the other satellites - municipal elections in sombre roughly one-third of Finland's mood. She has the prospect of total exports, and provides mor doubled unemployment figures than a quarter of the goods and resultant State expenditure needed by Finland, of same 20 per cent of the total Prices are Axed for a year Budget to combat it steadily ahead, based on current world sinking chances to compete on market levels, and

not Are the world market, because of affected later Angluations.. high production costs, And thus

Two years ago Finland stood Important poca for call-third among the countries deal- wood products; ning with the East, last year sho U.S.

flerce tug-of-war between the took second place, after Britain, The International Monetary

leading political parties, and so in exchanges between East and Fund and the Bank of Inter

permanent West European States, national Sottlements

Government crisis;

and the This year Britain is buying for arc also cautionary. The IMF thinks that spectre of currency devaluation, £47,000,000 about the

same its threat of inflation. with the whole pattern of world trade

amount of Finnish goods for Dr Urho may now require farger reserves,

Kokkonen, the shrewd which last year, pald £00,- particularly because world trade and tough leader of the Agrarinn 000,000. It is this sort of fall

Union, presides over a minority prices which has precipitated the is now more dependent on U.S.

economic crisis, and sonomic condition, which tion and swedish Liberals Wine presen

greater variation with no which, as some Finns complain, than those in most Industrial | more than third of the Parlin-1

linis driving their country into the countries. It points out that as mentary votes hobind

them

of Russia, making the the U.S. now takes 15 per cent With its plan Lo combat

the country's economy gradually the dependent of world imports compared with | economic crisis defeated,

on Moscow's good- 10 per cent in 1938 and 13 per Cabinet is still fighting hard to will, A

A more generous Western cent in 1928, any U.S. fluctua-out-manceuvre the Opposition's liona would be correspondingly attempts to provoke immediate out of her crisis.

could help Finland more seriolis for World trade. Parliamentary elections.

Other Finnish- Onancial Another, presumably subordin-

peris, though, believe that the ate, reason for the IMF's view

remedy lies first of all with the is that some non-dollar coun- The President, 62-year-old Finns themselves.

No other Juho Kusti Paasikivi, ́ ́has tries are not dalps enough to balance of pay-

can be expected to buy fused to disolve the

present Finnish products if they are Some of them, it says, Parliament, fully aware

above world market prices, High. elections in the present economic production costs must be brought are holding exchange rates at

levels, whil

while others have been so concerned to as gain for the Communists, with-economies,

situation would only result in a

*stringent Internal or rapid filf employment

out solving the deadlock be-economies, it necessary by

valuation of the

currency. economic development that their

tween the other parties.

To stabilise the export Indus monetary policies have been tou

nen has, therefore,tries, stem unemployment, Dr Kekkonen

and to enable them to expansionist

withdrawn "his defeated pro- bring their international рду-

of drastic price cuts o lessen Communist che balance

the forthcoming Into ments

ning elections, they without posols

import through reducilous of wages, Abvere exchange and

maintain, is Lurely Finnish expenditure on problem, which taxes, and public restrictions.

certain social benefits, which

all have helped

the solved to restore powers of Finnish parties and temporary sacrifices competitive Th: BIS argues on familiar

demonstration of the traditional evidently hopes to and some Finnish determination and pluck, lines that international adjust-products on the world markets. by all the Beople, and by ments that used to be imposed other compromise that will

God by the gold standard are now acceptance both with the Trades

unreliable because reintively

Unlans and the manufacturers, central banks act less decisively without upsetting his own party and internal wages and costa

supporters, the farmers. have become much more rigid. Nobody denies that the situa Morcover the International

tion is serious, and yet no credit system used to help but political parly seems willing to now hinders. In the old days sacrifice principles and doubtful and exchange rates even small changes in interest privileges to save the export

used to

to markets and tow Finland put of produce equilibrating flows of short-term credlis which sup-

the doldrums plemented and economised the gold reserves. Nowadays these short-term capital

05

A HINDRANCE

might

He

that

country

de

chances

can only ba concessions by

of

BUSINESS

SLOWDOWN

PREDICTED

Manila, Sept. The

A slowdown in local business activity In

remaining

No doubt there is also bitter- ness among pang Final people, who feel that they cannot solve movements their

without help problems have to be replaced by move- from the West. They rightly ments of gold, and such capital point to the fact that the country month of this year is forecast flows do occur tend to 遍 Roday the easternmost oue by the Philippine Association #ggravate rather than to

post

Western democratie the bearish effects being blamed of

on the Korean armistice and smooth the distortions.

Ideals.

Nowhere else can one and euch the stiff quality and price com As a special und interesting enger demonstrations of the petition-in the world markets.. case, the appropriation of U.S. honest will to live the Western

The Philippine Association old to Britain in this U.S. facal way of life, to fight ton persona also revealed the declirio toà

to be less than freedom and integrity, to Balt now low of Philippine Interan year is likely $150 million, compared

with the Communist steam roller Tonal reserves. The level of injore than $400

in the million

country In In this then

In the $288,070,000 at the end of July year ended June. As there

shadow of the Kremiin.

represented a loss of $12,050,000 unquoted were arrears

of $200 milion GENEROUS" OFFER

from the start of the year, and Yet, theso

people complain, $17,410,000 from the comparable

expired 34 bid

3.65 nom.

120 bld

329 bid

3.22 nom. 334

3.34

3.30

5.87

6.77

5.31

4.3.3

5,04

5.74 nom. 5.74 nom.

If nearly all the Chinese pro- Sept. duction of tin ceases, the charge Oct. will undoubtedly be made that Jan. 3035

Spot-teents per ib. the industry has been inten- Cuba) 155188%tionally allowed to drift into Contract No.

the hands of European pro- Nov.

Jan. 1934 and this charge may arch ducers, well be exploited by the Com-y July munists.

Sept. Nov. Spot-cents per ib, elf NY

4.30 ex-dock)

-United Press,

Spot

Sept.

Dec.

March 1934

May

Corn-(No. 2. yellow. per, bushel in cents)

Spot

Deo.

Sept.

March 1954

May

Sales to other countries during the

Sept. past nine months have totalled $1,100,000,000 and have weekly averaged $30,000,000

Hye- Prices per bushel

in cents)

Dec.

1041-4 111-116

Pals-Prices per burhel

In cents)

since last December 10.

Asian,

Sept. Dec.

sold this

Roybeans(Prices per

Lash in cents)

Spol

Sep

Nov.

Jan. 1834

223 2801-2

2901

pro-

March

May

To the European or local financial leaders means that business is looking up

because the acquisition of busic economic im- gold

also

always portance and aquiot opening, the vides a great psychological lift.

To the American, they said it means that the Federal Reserve rein on credit is being

Singapore, Sept. 1.

rubber market steadied during

the afternoon.

Turhover was

moderate. Prices closed

follow-

No. 1 rubber per in. Sepi, 0919-

Oct.

Nov.

No, a rubber

No. 3 rubber

No. 4 rubber per

lb. Sept

Spot rubber unbaled

Blanket crEDO

unquoted

Bas-59 0311-04

ทา

United Press.

No, 1 pala crepe

LONDON MARKET

London, Sept. 1.

Light

ted

dollar of gold sold re- the reserves of conimor- cial banks by one dollar.

This reserve dollar in turn six dollars of supports about

money-funds used to bread, pay electric light bills and build houses,

Despite the rodent heavy sales of bullion, the United States is The rubber market was bare-not running short by any means.

ly steady. Spot rubber RSS

Nov. Vee. Det./Dec.

The gold slock in this country No. 1 was quoted at 19% pence now stands at $22,220,000,000 or

two-thirds

the of per ib. Futures prices closed as almost

estimated world total of $30,340,– follows:- Settlement House oft..... 10-1914.

19-15 000,000, excluding Rumia which closely in1-19 has kept her supply a 10-104 | guarded secret. 192-1011

biggest purchaser of US The 181181 gold in the past year has been

the United Kingdom.

Other heavy buyers include Argentina, Belgium,

Jan./MATCH

April/June July/Bept,

United Press. NEW YORK MARKET

Now Yat, Sept 1. Rubber, futures today closed and 15-20 points lower with sales of Prem three contacts. Prices were Rept.

Dec.

March 1061

July

Sept.

3189 d

22.83

*** ó nom.

12.65

14.30 nom,

Unaided Brews.

AMSTERDAM-MARKET

Germany

the Netherlands-United

N.Y. Cotton Prices

Harley-price per bushel

in cents)

RUBBER POSITION

The Federation

Government maintains allence on the whole tin position, but the miners con- that the Government did sider recommend the reconvening of Con- the United Nations Tin ference, and this view is upheld that any pre- on the grounds mature indication might possi-

at the

of ald due to Britain end of

of June, the avaliable total there seems little understanding period inst year. is $350 million, and Whitehall for their plight on this side of fancles that receipts during the the Iron Curtain. More and coming year may thus not be

not more, Floland gildes into for short of the $308 million Soviet orbil mark received in the past 12 The political and milltary montba. In particular White-

While

of

The Association said futuro the developments depend on

the

Commodities In the new appropriation may have importance. It spite of it, and and greater effort to promote

, and reckons on $20 Finland's Communists have been!oyment and real income,

America

New York, Sept. 1. Buoyancy in grains was the

commodities today.

New York flour, 200 ih, sack, 113.30. bly prejudice international dis-background to interest in other

Spot -United Preta.

been

up

American France-Pres90.

(1) How, Intertially, hall thinks that $150 million of friendship pact with Moscow Philippines will effectively en- and foste incentive no praved to be only, of symbolical courage as well as part the arrears

of the fact that Boviot guns are rising level of production, em-

and paid over by the end of

30 miles from Helsinki, to barely

(2) How externally, to build million month until well

11

excluded from public affairs for up a rational export trade as a into 1954. It is even suggested

favour means of maintaining a the last five years, that the arrears may prove to

balanca. of

paymenta Neither Communist - inspired | able ̈ have been a blessing in disguiso

flerco demonstrations, position. ag Britain did not strikes,

nor sharp Soviet Notes could instruch greatly need 'ald while her re-

The Philippine Association is cussions at a later stage,

frighten the Finnis, or alter their At Chicago, wheat closed up serves were rising, so that the

ot Filipino.] and, Workers throughout the rub-

to rule,

their mado

⚫ businessmen, 37. Soybeans closed arrears will come in bandy if determination

Inter ber industry remain satisfied three to and reasonably contented, realis- up to 2%. Wheat began to the reserves come under sensondi country Without Russian ing

that the employers are firm after the opening as com and other pressure. Chloa Mall fence.

But all these gallant efforts meeting extreme difficulties and mission house buying and short

abro:bed

have not immediate Special."

atemmed Increasing that the existing wage rates are covering

economic dependence, on Russia. maximum that the offerings. about the

Export dealers also picked up

While other countries hoggled, industry can afford.

in with a slepped Johannesburg, Sept. 1. The costs of production are today in anticipation of the sale

The Orange Free State Mine

D atcady and The tin market was firm still around 80 cents a pound, of 20,000 tons of United States Turnover was 50 tons of which excluding replanting expendio to Egypt. Western Conany had an estimated working low Fish Industries

is expected in the market for

£00,342 Induly.com

sofo

prico market, free of Pricesture.

with working profit | fluctuations. Oh two estates in Selangor US, red wheat early next week.

Working At Winnipeg, wheat was priced pared

was at the £42,770 June.

1939 recently ladder tapping la being

conis per bushel-

Coste per ton millard, were come bottom of the 1st We Fininud a The Agriculture Department lo 300 100% 0174 done for the first timo

United Press.

higher siderably

partners. Britain headed proposed today that the United 222,000 trading yours Culs are being opened

June's 129,000.

the list, absorbing 43.0 per cent States Government levy at once on trunks of trees 30 or more

of total Finnish, exports and a special limport, feo on foreign you

LONDON TIN MARKET

London, Sept. 1.

43 tons were for cash. closed as follows:-

Spot tin, buyers

Spot tig. flera ausesn

023

0:20

Three months fin, buyers Three monulis tus, aciers Business

nil

620

-United Frek,

Bettlement

of

WORKING LOSS

at

0114 Vaur aac, at 90 inches from the JAPANESE BONDS Transvaal mines in July show

London Foreign

Exchange

New York, Sept. 1. New York Prices of cation futures closed | Montreat today as follows:--- Spot October

Amsterdam), Sept., 1. December

The misber etcket was quietly March (1054)) kami.

stently Prior digood on follows: May

No, a rubber per 15% buyer, 13d”

No. rubber per D. Buyer 181

October

No. 0 rubber par lb. bayar 119 nord, December

-Unting Prom

23.05

Amsterdamn

Zurich Copenhagen

Sto nominal bon

3340

Deritusho Mari $350 nominal biocana biark affed, Press.

London, Sept.

„140 03-140.10"

1983-6030 2714-1732 Unked Free,

Apa "the tappe

113

for this purpose. In some cupen this high top pink is an alternative to, lower appinut but in others it is part

fighter lapping," pre- parmiory to felling the frees for either for repinnting or

she began for handing over mining

Sentrous" offer to secure for

third after Germany.

Protectionist

Makes Plea

ed ap "London, Sept. 1. an csilmated working pront

Imports.

with cents bat of £3,000,879 against 28,835,109 supplying 21.0 per cent of her wool and

America Japanese bonds

82

June. #A” (4s of 1990),

Tonnage milled was his

one-tenth of total sup 714 over 200,000 higher at 4,865,200;; "E" (48 of 1810) "C" (58 of 1007). 128 while working costs declined

108 of 1924)

101% from June's 36s. 4. to 384 bd. | Kod 15! (554961 1930) "F" (Tokyo 8 of 1020). 89

07% "G" (Tokyo) is of 1912 Consols

United Press..

-Reuter.

Washington, Sept. 1.

Mr. John H. Davis, Assistant and purchases come a Secretary Aults and

Prezident

Commodity In 1951, Britain still headed Credit Corporation (CCC), seld the list with 21 per cent of all that such a special Import fen Imports, and buying nearly one essential to Insure the market third d Finnish exports. But Ing of the 1988 tombatie wool Mission To India 60%

had clip plus half of the stocks Bow Calcutta, Sept. 1 the American lumayer In one or twy instances Jug-

Joptries shrunk to about six per cent, quired by the CCC under the was eight price support programme.

He announced the proposal in. der tapping a veil se tapping

economie mission will arrive in while Rusala's figure was

statement, before the Unites on the lower level is being

India during the second wook per cent.

*GREAT INROADS

States Tarif Commision which dong. Yields fraim kulder top

of this month to study Indup ping are reported to be alle Copra Wae:quated today at Fial and peron Brospects great, Inroads Moscow has andetermine whether the Agriculture

"Win D The latest Ogures show the opened hearings today is to de factors may vaga hing, bor short ton, elf Pacine the country and the

There is not the same up Court. Coveut all was quoted of future ecomorale co-operation in the last two years. BusDepartment price support pro port for an international agrees at 14 cents per lb., straight between India and Japon, the now absorbs together with grammo is, being

“and • Czechoslovakia high importa di wool. shipment, West Japanese Consulate said today. Poland ment on, rubber as there is for September

under aripartita agreement, Press. din, and a largo ́majority of Coast United, Press,

Copra Quotation

New York, Sept. 1.

touter

11

undermined by

United