MESSAGERIES MARITIMES Plans
Queen's, Eidg.
M
THE CHINA MAIL, THURSDAY, SEPTEMBER 3, 1953.
For American
M Industry To Share In
FAST PASSENGER/FREIGHT SERVICE
Outwards (from Europe) travel Marvellos "LA MARSEILLAISE” 13 Rept “VIET NAM
"CAMBODGE"
dort:
13 Oct.
Homewards to Europe) Leaven Jongkong "LA MARSEILLAISE” 21 net. “VIET-NAMI
"CAMBODGE"
3 Nov
11 Nor.
Dur 1.K. · FAT
det. Nov.
Yokohama
Yokohama
VIX
2 Nov.
13 Nov.
Balgun
26 Nov.
11 Vec.
Aalcon Kalten
Via Marseilles to all Mediterratron & West Atries' Porin Via Djibouti to Madagascar.
Outwards (from Europe)
FREIGHT SERVICE
Lett
"COURBEULLES' ...La Pallire... 4 July
.Antwerp -27 July
Antwerp $ Nept
Homewards (to Europe) Leaven Regione
"AURAY"
"IRAQUADDY"
"COURSEULLES"
"AURAY"
"IRAQUADDY"
10
30 Get.
1 Nov.
Bue
H.K. For
+Rent. Stanilla & Japan
* Ripit,
Lærves II.K.
Manita & Japan
Manila & Japan
Før
12 Oct,
7 Oct.
1
Nov.
* Nov.
Oran, Tangiers,
+ Salgort. Singapore, Djibouti, Maisellien, Algiers.
Camoblanco, Le Havre, Antwerp. Rotterdam & Dunkirk, Aubject to change without astice.
EVERETT LINES
Lines
EVERETT ORIENT LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.
"BRADEVERETT"
A.Tives Sails
Sept. 17 from Singapore,
Sept. 18 for Kabe & Yokohama,
"NOREVERETT"
Arrives Sally
Atomic Development
The U.S. Administration and Congress are. preparing to encourage private industrial partici- pation in the development of atomic power by easing thie tight restrictions of the Atomic Energy Act.
HONGKONG P
SHARE MARKET
(From Our Correspondent)
The drive to modify the Atomic Energy Act, which has controlled U.S. atomic development during the past seven years, has gained tremendous momentum in recent weeks.
Public, though certainly not widespread, debate on the future of atomic epergy is now in full swing, and all indications are that 1954 'will' be a year of de- Noon quota-Fisiop in which the Federal Government's policy on tions and the morning's Trans-atomic power will be determined.
Business done on the Stock Exchange this morning amount- ed to $265,910,
actions:-
SHARES DUVERS SELLERS SALES
DANKS
אחרון IK
Kart Ass
INSURANCES
Canton Union Underwri NK Pire
SHIPPING
And Nay
DOCKS, ETC.
Dock Provident Bhai Dock
Wheelock
LAND, ETC
1K Isotei
JK Lond
S'hai Lad
Humphreys
ITILITIES
1510
(31
250
900 $13
130
14
21.40 22 300 11.00-11.00
31.64
4000
11.55 1.03 2260) -
2.10 €00
1.00 7.00 1700 7.85 004 01, 200
T. Tram (N) 21.10
1 14
1000 20.10
Sept, 20
from Manilu,
Sept. 21
for Singapore, Kangoon
Penund,
Train XD
24.70
P. Tram (0)
&
Colcutta,
Suse Ferry XU 1 125
C Light (N) B
Electric XD 20%
Telephone
Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight—refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"STAR BETELGEUSE"
Arrives Sails
Sept, 16 from Singapore. Sept. 17 for Pusan,
Yokohama,
"STAR ALCYONE"
Arrives Sails
Sept. 20 from Japan. Sept, 21
Kobe
&
for Singapore, Port Swelten- ham, Pendag. Madras.
Colombo, Cochin, Bambay, Karachi, Khürramshahr, Basrah & Bohrein,
(Acceptios cargo for transhipment Robe/Pusan and Kobe/Okinawa)
EVERETT · STEAMSHIP CORPORATION S/A (Incorporated in the Republic of Panama
With Limited Liability
Queon's Building, Tolophona 31206. Chinese Department:"Telephone-28293.
New York
Foreign Exchange
Canada England cial
Australia
motiletal
London, Sept. 2.
30-day future 90-day future
New Zealand
South Africa
Belgium Denmark France Germany Holland
Itaty Norway
Portugal
Spain
Sweden
Switzerland
$1,01-3/10
INDONESIA
TEXTILE
PRICES UP
Singapore, Sept. 2. Djakarta wholesale textile 2.001
Kono 265-2.68 prices have
up and or- 2.80%
dinary Chintz prints and whites 2.80%
were selling at 10 to 20 per cent higher.
2.25
2.00
2.10
גיו
002B
.1435
.2305
2634
$100
said
Ciant 101 121 12.20 5500 $12.00
Mack Elec. +
INDUSTRIES
Cement
22.10
GOO T
In the more distant future, no one, not even members of Con- gress or atomic scientists them- selves, can begin to foresee the profound econoïtile elunges that may be wrought in the economy of the US. and of the world by tho application of atomie power.
But in the view of the Ad- mini-fentleg,
the Atomic
to patent atomic devices mukt be settled in any law that seta the policy for Industrial stamin power development
The ultimate resolution of the knotty patent problem will have to be 'compromise BC- ceptable, on the one hand, to Industrial
compot will not invest huge In Fesearch unless their inventions are pro- Energy Commission, of Cotected, and, on the other. 14 Aress and of industry, the time
thore who are determined that has come to brenk the rigid
there shall be no atomie patent mould of the past seven years
monopolies, particularly since and to set forth in a new direc-
The American people already tion.
have invested $12,000 m. of tax money in atomic development. INVESTMENT NEEDED.
Narrowly defined, their prob- lem
one of establishing con- ditions under which industry shall be permitted to come into the atomle power development programme.
vestment of
The amount
of
Decision Still Not Taken By
Cost
Battle
Canada's Cabinet Between Owners
Ottawa, Sept. 2. The Canadian Govern- ment has made no firm decision about whether to appare or support 'Japan's application for admelon to the General Agreement and Tale
on
ald too!
today.
on
They were commenting a London despatch quoting uforased sources as saying in ball. 4- olded to appono early ad. tho mission of Japan to tarlit body.
The United Blates is understood to be support- ing Japan's bid for ad- mission, which would riye her lower tariff rales on hundreds of items in all of GATT's 33 member coun- fries, including Canada Beuter.
NIGERIAN
COCOA MARKETING
is
of
of
Н
And Builders
London, Sept. 2.
The cost battle in shiphullding is becoming more open, with builders and shipowners both adopting tactical attitudes.
Mr Donald F. Anderson, chairman of the Shipping Federation and deputy chairman of the Peninsular & Oriental Navigation Co, said that shinhuilders and shipowners equki only exist if they could deliver the goods at the right price, and that if the Japanese or any other shipowner could do the job as well as the British owner at a cheaper price he was going to get the business.
The cost of ships is a major |--- element in the price at which undertake
an
owner con business, he said, "and it will be regretiable If British builders requir
too long to return the
fact of competition."
It
does not seem to be reading
too much lato his words to infer
ກ
threat that British owners
place
Would be compelled to their orders with cheaper foreign yards if British costs Certainly could not be cut. new orders at British youds are scareer.
now
Krupps' Pakistan Order
Karachi, Sept. 2.
Expe:th from the German steel fram af Krupps are due to nerivo Behind the present offensive shorty to survey Pakistan's rom and prepare the by British owners against high ore resources building costs lles a warning to way for the establishment of a
steel plan!. the shipbuilding unions
15 per Under an agreement signed re- their claim for pressing
The cent Increase In wages.
cently in Gomumny, Krúpps has know been granted the rights of slits shipbuilders themselves they are in a spot: labour in the veying, invenigating.
industry is largely shipbuilding
labour in Pakistan.
back
ng ming and
The Nigeria Cocoa Marketing Bohr! now has about £20 mil- lion at Its disposal for price stabilisation purposes. This disclosed in the Board's annual the 1951-52 seuson, for report just published,
Despite the record high price
prosport. paid to produccis and a steep
qitorrying l full
selling price In the
interchangeable with the middle about cocon
Bourd replied other engineering Industries and
The German 1992, the
experts will the shipbuilders would not be surplus on the season's opera the
able to
to hold bad
them . mobile field alone from bring with Lions of £1,427,125. Eccms
laboratory arki will start` their granted. any general increase
to The price of £170, paid producers for the
best grade Bestdes. shipbuilders add that survey, which is expected
the much of the competition which last six months, in the Funjab. fixed by of cocoa, why Hoard at n Hime when world they are meeting arises from the carler delivery dates offered by market prices were already de cilning, and the possibility their foreign competitors rather than from price. There is still therefore accepted
the hig might have to draw upon its.
a strong demand for
is hoped that production at this of British ships, stabilisation funds to support
Put plant will start by the end of port quality the
1054 it was full, how foreign price.
owners prefer to forgo ever, that the high price paid this in many cases for the sake Krupps will also draw up a to producers W03
consist chi of quick delivery, Give us the scheme for a big steel pinnt to the
substantial surplus with
say, and produce 300,000 tons of steel realised in the previous two
improve and 50,000 tons of plg fron an- seasons.
The hearings also disclosed that the Commitice must decido whether to permit teasing or PRESENT POSITION
wnership of reactors and ns- Alonable
materials. It Atomic energy in the U.S.
probable, the that Congress is a complete dovement will be faced with the task of monopoly,
"on"1" } devising the type of
subsidy that will make industry willing Information
to risk the substantial #mount 18 18.30 2500 10.09 that is available to private citor capital that the construction
zens is nagre and rigorously 16
nuclear power renelor controlled. Private ownership of either reactors or issleruble would require.
One suggestion frequently materials is prohibited, and all
the advanced hus been that #tomle patent rights are vested
A.E.C. should contract to buy all the plutonium produced by reactors. The purchuse power the development
price would be fixed at a suff- newer by Industry is
ciently high level to enable compounded of many forces utility
to sell its company the belief of both industry and power to consuniers at
4 com- the Government that there repetitive price. vast potentialities that must bo
02.20
STORES, ETC
Dutry Wation
L..
COTTONS
Swo
Crawford
Textite Cap. 34 and
23.20 20.30 3300 23.29
[00 2313
DOG 2.30
New York Stock Exchange
In the Governments
The courage atomic
present pressure to mil-
of
ས་
and exploited; the There is wide disagreement ot the A.E.C. about the time It will take to with designing installations bring the cost down to a point whese primary purpose is the where atomic power production production of Ossionable mais profilable; and even ubout terials for weapons and not the length of time that will be pover; and the belief that the required to
full- construct a New York. Scol. 2. U.S. must in no, event lose its setle commercial reactor. Stocks extended yesterday's world leadership in atomic Dr Walter Zinn, who develop- recovery by a small amount in development, including most jed the Breeder Reactor, says greatly reduced activity today particularly the application of it can be done in five years, in- to elvilian pur-dustry spokesmen orc less
sanguine.
poses.
The gains.
arlded to yester- atomic energy day's Improvement. restores Eothe one billion dollars of the $6,000,000,000 hacked from tho value of all stocks in the pre crding six sessions of decline.
All sections participated with industriály closing
142 higher on average, rails 52 cents higher
12 cents higher and utilities Some softening occurred before the close to cut prices from the highs. The gains, nevertheless rh to two dollars and more in
a few instances.
Continued uncertainties over the market look kept
the
COMMISSION'S VIEW
that
to
was
of
Cocoa prices did in fact fall
middle steeply about the 1952, but later rallied unex- pectedly, with the result that the season's operations ended with a surplus.
the
and
They will submit a blueprint in November for a pilot plant in the Punjab for produclog 18,000 tons of steel ingots a year. It
steel, the shipbuilders our position will
They appear unwilling rapidly. to buy
steel the
readilynder the agreement, Krupps available in Europe at a price will subscribe 10 per cent of some way above the artificially the total capitol, estimated at between 40 and 50 million low British level
IN NO DOUBT
rupees (about four to five mil-
on sterling).
Pakistan at present importa ness of the competition from about 400 million rupees (about worth of steel German
Japanese ship- £40 million)
yearly, builders,
And
Leading Japanese tankor bull-
At the same Time, they are With £20 million at its dis- in no doubt about the serious. posal at the outset of the curs the Board con- rent sesso, siders itself well placed to apply Its funds towards producer price need whehever support arises, "though not, of
of course, for an indefinite period."
Apart from aiming at .the greatest possible economic stability in the Nigeria
growing Industry, Board also secks to encourage of high-quality the production
cocoa
Cost estimates indicate that there
limited breas may be
where the U.S.
the
Cocoa
In defending the Cemmis-wiibin ston's position that the Govern | costs of producing power from ment's monopoly should be to conventional Iucts_oré to... high faxed, Mr Gordon Dean sald that an atomic plant would be shortly before his restanation as competitive. A.F.C. chairman that there was But in the overwhelming
or now commercial, economic und majority sections ntorpic civillan demand to be met. power costs now would be four
The task
to five times larger than those aload was a cost- cutting development job that of conventional power.
est be done by skilled could
with other people
competing skilled people, said Mr Dean
under Mc The Comms proposed Dean's low. Volume for the dropped to 1.110,000 that the Atomic Energy Act be
1,580,000 yester- modified permit:
to day. Today's Improvement was 1. Ownership considered an extension of the of nuclear power faciles by technical rebound dur after groups other than the AEC.:
lease
cl The
ale or August's decline,
fissionable material;
and transfer of 3. The use fissionable or by-product ma- terials by owners of reactors;
4. The granting of
rights; and liberal
pictogresively liberal Information policy nuclear power reactors.
volume session
shares from
Of the 1,080 issues appearing in the tape today, 041 Gnished hipher. 218 lower and 229 were unchanged. Bost gains appear- ed in ralis, pils, selected chemil- cats, televisions and aircrafts. In the latter group, Lockheed soared with a rise of to $23% on the day's most active turnover, following issuances of an excellent first half year eam- Ings report.
Trade circles blame the slow of import licences as issuance one of the main reasons for the They sudden jump in prices.
have been delays perienced for several weeks.
In the past, there was an al- most complete suspension in the
In the rails, gains ranged to Isouance of permits, informants 24 points in Texas and Pacific. saki, with the exception of ona
America gained 2% in the olfs. Steels and motors added trac- section of importers.
tions, sald unless sources
again mado are
prices are bound
These
permits
available the
214065
03.30
Oza
.1939 .233415
MIDDLE EAST.
Fast
Irani
2.001
3.81
Turkey
3573
10
LATIN AMERIC
Argentina
.0725
.0350
0020
,000
4026
1.00
1154
0305
.3003
of tin, copra
FAR EAST
2110
.3043
Hongkong
174 .4063 580 yen 10 US$1 United Pres
BERKLE
Bolivin Chale
Columbia
Cutja hexico Pert
Uruguay Venezuela
Inalt
Pakistan
Indones Japan
SWEDISH GRAIN
EXPORTS
Stockholm, Sept. 2.
Dow
and operation
more
more on
Industrial
Production
In
America
New York, Sept. 2.
In July Industrial production dipped to 233 per cent of the will 1835-30
but ayerske,
cent for to 238 per recover August, the Federal Reserva Board reported.
The
decline from 241 per
FUTURE POLICY The Congressional Joint Com-cent in June reflected plant- important vacations In of manufacturing industries and in mittee on Atomic Energy plans wide to begin consideration specifle atomic power policy coal mining. In July, 1952 the production index was 103 per year. legislation early next
of industrial
who [cent. Mr Lewis L. Strauss, succeeded to the A.E.C. chair-
by
August pickup
The New York Stock Exchange hond volume was at $2,100,000, manship, has promised to have business has not been as brisk Agente of Purchasing and the American Stock Ex- precise recommendations ready as expected, the National Asso- since the end of this year, and the clation
first report said in the to change was 330,000 shares.
closing aver- Jones
One-third is prepared
of administration
Its position In the the Korean truce. determine 0203;
the agents sald order backlogs 203.16
light of the A.E.C. proposals. 07.14 Mr Sterling Cole, the New were lower the largest number 1952. June, 49.55
of to say his since York Republican chairman
•Twenty-two recently agents 102.98
per cent of the produc- 05.00 the Joint Committee,
surveyed said
turning Lion schedules were
go higher. Meanwhile, economic experts hero believed
that political developments in Korea, Morocco and fran may favour Indonesian 30 Industrials attempts to stabilise her foreign 20 Rails exchange position as the uncer-15 Bler tain political conditions have 65 Stocks somewhat influenced the prices 40 Bonds
and rubber Comm, tuture prices index 187.14 said that he will have a Bill of
com-
Indonesia's main export modities United Press.
Bonn To Cut Tariffs
Bonn, Sept. 2.
West German import tariffs on Iron and steel for imports from countries outside the European iron and steel pool are expected Sweden will have 400,000 tang to be cut to six to eight per cent of bread groin for export when for the monthly Import quota of the latest harvest has been 120,000 tone, Government sources milled. necording to Board of Enid Agricuture estimates.
She will also have 50,000 A
"The West German Cablagt op.
Unsed Press.
measure
The Government has sanctlart- dors have beeri offering now ed 100.000 rupees (about £10,- tonnage to foreign buyers at up 900) for the present survey. →→
£5 for less than the China Mail Special. British price, which means of
the large substantial saving on tankers now in Gavour, with the all companies.
the
Its record in this eld WA well maintained in 1951-52-The Board attribute: this "gratifying development" to the Incrense u the premium on Grade 1 cocoa from £10 to £15 per ton.
The Rubber
Markets
Singapore, Sept. 2. The market opened slightly below yesterday's close, and
rentier. fluctuated
There
was
very
te
narrowly. trade and fuctory interest and the
closed market
steady. Prices were as follows: No. 1 rubber per lb. Bept. 64-644 0424-16
October
November
No. 2 rubber per lb. Sept. 2 No. 3 rubber per lb. Sept
No. 4 rubber par lb. Sept. 2012-1 Spot rubber undated
Blanket crepe
73-70
-United Press.
No. 1 pale crepe
LONDON MARKET
London, Sept. 2. The rubber market was quiet with No. 1 RSS spot quoted unchanged at 10-1/16 pence per pound. Futures prices closed as follows:- October
November.
December October/December January/March (1054)
July/eptember
1914-1 1092
19%-4
1993-98 United Press.
NEW YORK MARKET
New York, Sept. 2. Rubber futures closed 'rive to
to introduce whe downward. Prices were sold to 10 points higher with sales of
hls own Congress reconvches.
A
R is believed that they are offering delivery dates of 12-18 months, compared with about three-years-offered by UK ship-j.. builders to overseas buyers.
US. OWNETB have already orders with the placing Japanese yards.
been
The Japanese are keen to take up their idle shipyard capacity now amounting to some 20 per cent of the total,
"Although the British
building industry still has
da's worth £124 million
ship
Grain Prices
In
Chicago
Chiengo, Sept_2.
Priscs of grain (u.urts closed
today as follows:
Wheat (No. 2, red, per bushel
in city). Spol
Sept. 101% (1) 180 (L)
March 1994
on
Mny
ta Spot
123 not
19013
1954-190
hand, they cannot afford to lose Corn (No. 2, yellow, per current orders to the Japanese, bushel in cents) Germans and possibly also the subsidised US yords. Thin Sept. order-books now can mean. uit harch 14
Dec.
in the Coming years. May. employmen TECHNIQUES
The
In a letter, to the
Times,
says
-155
Bye~(Prices per bushel in
1073
QAL (Prices per bushel cents)
2-70 Boybeans (Prices per bushol
285 nom.
2471-200
the British Iron cents) and Steel Association's Corro
Sept. slon Laboratory, Mr J.C. Hud- Dec. son, his urged British stulp owners and shipbuilders to try out new techniques for pre Slent; venting corrosion of ships.
Doc. Financial he
that
the efficiency of protective painting in centüy
Spot Sent has been greatly increased by
ro. Noy the development of more
Jath 1004 composiMarch sistant anti-corrosion tons and the introduction of May
methods of preparing better stoet plates for painting,
such as grit blasting, fame cleaning, the use of certain phosphoric or its Gelds ("wasti primora?) certain cases metal spraying.
He also mentioned the ap- plication rathodic protection
to the hulls of both active and Inactive ships.
In this process an electric potential is applied to the steel hull'in such a way
steel does not
of
corrode. magnesium,
In preparation for the task of showing a tendency to level-18 contracts. Both futures and steel, and connected
Exchange Rates drafting the appropriate legista-
Business was done in the local
unoMeip!
exdiange
market
tion the Committee took test tony from more than 40 wit This nesses, some in public session world at the following rates and some secret.
6.04 dollar iper (1) 20
Mr Cole remarked at the final Sterling hotes (per 1
10.00 hebrink thit "no one has in-
any dicated that
Indonesian guilders (per 2003
Slam teals (per 1001
13.00
32.60
Singapore (Siralia)
off or soften.
Agents,
belloved generally, that the autumn and winter business might be upswing in
ping-Reuter. slow in developing
compans London Foreign
Indo-China plastros (per 100) 0.93 group, association or individual
at this time
to is prepared undertako alone the entire in- develop and build a full-calo atomic power plant."
Mr Strauss contended that Amsterdam Yaz patent law problems pose the FEMA
NY Catton Prices vestment which is necessary to
New Yaric, Sept. 2. Prices of cotton futures closed. today as follows
Root the reduction In principle.
"The cul is expected to become
Got. Dee. March 1954 May
Oct,
of ouls and 20,000 tone of comp Further dotolik art being worked
for export. But experts were out.
not sure
of satisfactory prices
of the reported good effective short and la expected
and other to be valid for one your only harvests in Canada countries.-China Mall Special. China Mail Special.
2003-1040
Barley (Price per bushel in cents) Spot New York hour. 200 16. sack, #SAD,
United Fross.
180-103
Market For Japan
Tokyo, Sept. 2. Japan caly export 1.200,000 lbs. of rayon yarns to Indlan
or platinum are spot markets ruled quiet and hung without special feature." Dealers to the steel hull. For holds and quoted No. 1 RSS, spot at 23% tanks, temperature and humidity cents per pound. Futures prices control, based on fundamental yearly if the price gap between
felentide research, can
check Italian and Japanese products currosion, Mr Hudson
aald drop within fourpence per b
Mr Ichiro China Mail Special.
were:
Вер D60,
27.00 bil
21.90 bid
March 1954
$3.99 bid
May July Bept.
23.00 bid
23.00 no
United Press,"
JAPANESE BONDS
London, Sept. 2.
Exchange
London
2.
New York Montrest
Japanese bonds
"A" (ls of 1899) «1° (48 of 1010)
HCM (Just 1997) -
*** (0% O£ 1934)
"E" (# of 1830)
"spectruth af ohoice""""wins from Cophagen complete Government monopoly
Skdektom Mio complete free enterprike, mbon 13.07 bid
He insisted that the question Deutsche Mark
Blocked Mark -United Prou.
lof permitting private companies
LONDON TIN MARKET
London, Sept. 2. The in market was stendy. 824 Turnover was 108 dans of which 21 20 tons were for cash. Closing 100% prices were: 1014
.
*(Tokyo the of 1020) 89. "O" (Tokyo 51 of 1912) 00
00%2 Consols
-United Prest.
pat 1in, buyers
finess
Business Brillernent
United
蝌
director-general of the
Fibre
Manufacturers Associa |tion, returned from a two-month Investigation Trip to Indid. Pakisib, Hongkong, Ceylon' and Formosa
Mir
Kawaguchi said Italian rayon yarns are now doingna in the Indian market due to low prices. The Indians still prefer. Japanese textiles and if a pries bolween *Italian and Japanese products, is within four pence per pound, about 1,000,000 to 1,200,000 lbs of Japanese rayon yarns will go to India yearly~United Press,
No comments yet.
Private notes are available after approval.