1953-09-07 — Page 9

MESSAGERIES

P.O. Box 63, Queen's Bldg.

M

THE CHINA MAIL, MONDAY, SEPTEMBER 7, 1953.

Pago 9!

MARITIMES DECISION TO LAUNCH NEW TRADE DRIVE Effort To Expand British Exports To Dollar Countries, Europe, Middle East

M

FAST PASSENGER/FREIGHT SERVICE

Outwards (from - Europa) Leaver Marseilles

"LA MARSEILLAISE" 15 Kept

"VIET-NAMI”

"CAMBODGE"

s Oct. 13 Oct.

Due 1.K. For

2. Oct. Yokohama

Nov.

Yokohama

VIL

H NÀY.

26 Nov.

Halgon Saigon

Homewards (10 Europe) Leaves Hongkong, Dug stapelijgi "LA MARSEILLAISE" 21 Oct.

“VIET-NAM”

"CAMBODGE"

1 Nov. 18 Nuv.

11 Dec. Nalgon

Vix Marnestles to all Mediterranean & West Africe Ports Vin Djibouti to Madagascar,

FREIGHT SERVICE

Outwarde, (from Europe) "AURAY

Leit

..Antwerp -27 July

"IRAQUADDY"

....Antwerp -

Sept.

Homewards to Europe) Leaves

II.K. Due 20 Rept. 15 Oct. Leaves H.K.

For

Mantia & Japan

·Manila & Japan

Tot

"COURSEULLES

6 Oct.

7 Oct.

"AURAY"

30 Oct.

•

"IRAQUADDY"

} Nov.

+

Nov.

10 Nov.

Saigon, Singaporę. Djibotili, Marseilles, Algiers, Oran, Tanglers,

Corablonen, ie Havre, Antwerp, Rotterdam & Dunkirk. subject to chango without noties,

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippinca, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.

"BRADEVERETT“

Arrives Solte

Sept. 17 from Singapore,

Sept. 18 for Kube & Yokohama,

"NOREVERETT"

Arrives Salts

Sept. 20

from Munila,

Sept. 21 Jor Singapore,

Penang,

Rangoon 品 Calcutta, (Accepting cargo for transhipment Kobe/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 BETELGEUSE"

Arrives Sails

Sept. 16. from Singapore, Sept. 17 for Pusan,

Yokohama,

"STAR ALCYONE”

Arrives Sulls

Sept. 20 from Japan, Sept, 21

Kobe &

for Singapore, Port Swelten- ham,

Madras, Penang, Colombo, Cochin, Bombay, Karachi, Kharramshahr, Basrah & Bahrein,

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

EVERETT STEAMSHIP CORPORATION S/A (tocorporated in the Republic of Panama

With Limited Liability

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

To Discuss

Revision

Of Pact

Tokyo, Aug. 3.

BRAZIL

GETS A

The International Bank

for

Businessmen Pleased By Churchill Appointment

(FROM OUR OWN CORRESPONDENT)

London, Sept. 6.

Mr Derick Heathcoat-Amory emerges as a very important figure in Sir Winston Churchill's reconstituted Government.

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning amount- ed to $124,285. Noon quotations

morning's transac

and the tiona

BHARKS BUYERS SELLERS BALES

DANKS

IK Bank

East Asia

1910 153

INSURANCES

Canton

230

Union ....... Underwriters

000 $10 20 004

3

300

1 Bre...

SHIPPING

Waterbuat

Ana Nav.

DOCKS, ETC.

K. Whart Dock... Provident Wheelock

LAND, ETC.

HK Hotel HK Land S'hat Land

UTILITIES

Trom

P. Tram (0)

200

1.47;5

21.00

11.70 1.80 1000

7.80

8888

ទ

Hig task in the newly-created post of Minister of State at the Board of Trade will be "to" give special attention to the promotion of exports and to problems of overseas trade generally.

This appointment will be popular with British businessmen. Me Heathcoat-Amory known the sort of difficulties exporters are constantly coming up against in overgens markets,

one a

Increase

Before taking office ca Minister, that Britain Increases har of Pensions in 1951 he was share of trade in these areas. BA active member of hla It will not be easy family's textile Arm director of Lloyds Bank-cx- perience that will serve him Him that awaits well in the job

The will in any case, be far from simple. Anyone who has tried to assess Britain's trade prospects from the vbat amount of iterature on the subject will appreciate the complexity of the situation with which Mr Ligethroat - Amory myst deal.

nowy

of

could

LOSING TO GERMANY British exports The United

ponts to States have foughly kept pace with the

In U.S. imports but Britain's sales to Canada have risen less rapidly than the market has grown.

In the most important dollar countries, the Latin-American British share of total imppris is only just over four

per cont compared with over eight per cent before the war.

In Western Europe the United ground heavily has lost

the waitert micreased its

The optimistic tone recent trado reports 10% easily lead one id assume that all is well with Britain's export trade. Exports in July, for which were the Agures are available, kighost since March, 1952.

The visible trage gap was the smallest of the year.

Britain, moreover, continued tp benent by the movement in a terns of trade during the first six months of this year.

CUT IN IMPORTS

0.35

001% 61% 150 @ 0015

24.00 800 @ 2415 43

P. Tram (8) 21.10

Bar Ferry.... XD

C. Light (0) 12.00 12.00 Light (N) 03 8.03

'2015 Fectric XD

Macao Elect.

Tilephimo

.. 21.00

.

to

in

Aid For Taiwan History Compiled

Shipping

Talpel, Sept. 0. Nationalist China's Economic Stabilization Board tine decided to ald the island's hard-hit ship- ping industry with a loan

$15,000,000 US$1,000,000). reliable sources

of Formosan (about isually sald today.

ationalist

shipping.

to anly 240,000

bar suffered a big

#

Mpep the Korean truce talks began.

Regents there was plan to sak for American ald in order to buy a fleet of merchant ships with payment to be made in Instalments Rentet.

New Cargo

möre bu

Liner For

Far East

Service

W29

37.20 23.40 500 @ 23.39 | Zalf of 1952 and still import a King aspects of the pelted | Mâlgy shortly

23;

of

he

was

renomed

Of Oldest Shipping Firm

Compilation of the history of Thos, and Jno. Brocklebank, Ltd., the oldest shipping firm.in the world, must have been a monumental task, says the Liverpool Journal of Commerce.

J

The work proceeded over a number of years, and the result, ""Brocklebanks, 1770-1950," in two volumes, has proved it well worth while.

There would have been, in-

| deéd, a serious gap "in 'the "mari- time history of this country i! this history had never been written. That it Is not as complete as might have been wished is the fault of no.one at least no one living today.

It was perhaps inevitable that over the

events

which at the time

I have appeared to

significance re- mained unrecorded; and docu- ments loat ог

Inadvertently

Highlights

Of U.S. Business

New York, Sept. 0..

deilroyed. But the author of Automotive: Automotive Re- cklebank history hos ports output of cars, buses

the

And

and

In the US this week estimated urlis compared with 102,806, (revised) the week before. Banking:

in

money in circula- money

$12,000,000: Holding of

on

US

44.0

per

to dato

to find most of the and trucks In what might be likened Canada total exports to éléd by one- Latest addition to the feet of to complex Herary Jigsaw 187,998

Austasin Line Ltd., of third between 1950 and 1832 tho

established over a period while United Kingdom a restablished to operate services

Singapore, which has been 180 years, and the line's makes interesting, in fact

Federal Reserve- little more than one-seventh.

Australian ports and fascinating, reading. In fact,

week ended August 20, mem- the only

to between area which Britain might sell more Indonesia and Malayu, is the

bank, "That it all begun with the ber

commercial, Booth with relative case appears

Cargo linernetivities of age man, Capt. dustrial and ogricultural loans the the big off-producing code of gross tons Daniel Brocklebank, is neither in 94 leading cilles $891,000,-

which

ba

surprising nor

000. unusual, since

Gold reserves, week potential customers for more Mandama.

most of our arres of today

Industrial ended Sept. 8, $221,780,000,000; British development goods. The first ship of the feet, the enterprises and

Excess reserves, estimated tons dead-ad humble. Malay of 200

in sama On ANOTHER VINO

weight,

launched Whole House the

by instances even casual begin- Pickersgill and Sons, nings. does not seem unduly William

$250.140,000,000; The prices Britain pays for Treasur

There was, however, Lot Sunderland, on raw pessimistic about Britain's, ex- especially

little that was her imports

casual about Ratio

cent; New York Daniel Brocklebank, when he City brokers loans $1,300,000,000. materials have fallen much port prospects But some more steeply than the prices of dependient

*are

Bank Clearing: Dun & Brad- left Morland Vicarage, in West- Alvo transferred to the har exports. As a result she stressing anofferte INDUSTRIALS

was able to cut down her disturbing side of the pleure. Star Line while under construc-morland, and salled across the street, inc.weck ended Sept.

The London and 2002, 1815 18.70 1500 15.04 mänthly Import 'bill by 2.85

Cambridge tion, and launched as the Malay Western Ocean to start his 2, clecrings in 25 leading effica Cement

$10,421,380,000. ciceer in merchant shipping. millon compared with the first Economic Service finds grounds Star. Her name was changed to

Carloadings: Association of STONES, ETC.

after Jaunching

NEW BASE

American Railroads week Dairy

sepnomy for beleving and

untiter for Aus" Walzon 22.30

greater volume of goods.

On the other hand, he appears | ended August 20. 814,4817 £ Crawford

that "the ingofionary The value

move-tralia in February to inaugurate to have been determined to loadings for Wns exports

year

COPTONS

Austasin Ling servict. down between January ment has acquired considerable the also

The momentum." wald June Ewo

The second ship, of the oct como a shipbuilder, and had, 25,900,000 cars. capitated with

in fact, served his apprentice- Construction: Engineering Despite defence aid from the first half-year of 1562, but the

Is the

Mandawl, built by

in ship

News a shipyard. Further, first hal event of luz, baller United States and the continued Mess Pickersgily as the Cris on his arrival in America he at Sept. 3.

(7,250

tons deadweight) actual fall in import prices, It says, pip than the drop in the volume Expats that lay Britain's current account sur for the Booth Line in 1951. She once turned his attention to $293,524,000, 1953 to date awards

the buliding of ships, and estab= | $10,519,427,000... behind it.

plus in the first half of year has been

I at Pickergoing alterationslished a yard where he cop bere are reasonable grounds | Dertainly much lösx' (Kất” the April to make her suitable for structed five vessels. Five years Institutowock ended August

shipyard since £300 million

later, Civil War in America lęd 29, output 1,539,557,000 kilowatt Per her new Eastern trade, Afend mian, têg in the recent

ar production and target of

ahnum wanted for repaying -ployment.

Failures: Dun & Bradstreet, debl

building up reserves and due to sail from the United to Daniel Brocklebank's return hours

of this to England as master of the Kingdom ht

this nt the

ended August Treasury

27, the beginning of next. Castor, the last and best of tha bulletin for industry last week, ture in the Commonwealth."

The third ship, In the second quarter there built in Industrial production was bur

Indices: Production Stan- to be he selected Whitehaven as 1940 and now

dard & Poor's industrial per cent higher than

pro- a year may even have been "a small renamed Mandama, arrived at new base for his business.

He had a spell of private imated at 232.3 per cent of the

duction index this week carlier and between

and Payments deficit.

Sunderland on July 31 and is. Explanation of the risa in the und first two per cent up on the gold and dollar reserves which

before in this ship-Letters of Marque King George

1035-39 half of 1951.

by war continued in August-seems, if missioning in her new-ser ware granted

towards the end of the 12 in 1779"so Capt. Daniel This increase, however,

the throughout says, to be the surpluses of the year.

Brocklebank, of not evenly spread

Textiles, rest of the Sterling Area. Industry as a whole.

Mr W. G. R. Douglas, who at authorising plm "to dothing, leather goods, food, DISQUIETING ANALOGY

the time the Austasia Line was destroy the ships, depols and cut. Barron's

for building and contracting

established, and

goods belonging to the King of appointed Industries all increased vehicle

"The analogy with the first manager at the Singapore head- Spain" before he production in the January-June half of 1031 though hot per quarters of the company, period,

fect,

the been succeeded as manager by Willchahe first disquieting.

Mr J. E. Lynch.

13 being built in 1788, some économie service' confitiues,"

"In particular there are signs

in the years after his return

21 2.59

Textilo Corp. 5.40

MISCELLANEOUS

Yangi (N) (19

Shipments Of American Rice

To Far East

The Office of International Trade of the Commerce Depart

for ment has made it easter United States rice to be shipped to Cuba and the Far East.

announced

in

seems to have been small ----

and is

Rt:cord-week ended engineering ewords

Electricity: Edison dicin

Inc.-week

Electric

In the Arst half of 1053, thencing our capital expandie month or the the Cuthbert, Ves that he had. bullt, and business failures totalled 182.

опо

alterations undergoing

WAS

*

Castored seize and

291.1

average, compared with

the week be-

dox

weck

237.0

Index, nausica Industry and

long term the woelc

commenced population EN 22 per cent

Effective immediately, exports

at has his shipbuilding activities rice to Cuba will be allowed under general licence,

of

validated export

Dags

to

and

the

bewil

for

Lo

0

the our

15

the

of

The general agents

S'pore

Rubber Market Quiet

Shigupore, Sept, §.

Vessel

ended August

of the 1935-39

average.

from enVeroduation:

American

;

Cotton Prices

•

In Karachi

Q

NOT CONCERNED

Institution week August 29, Gasoline Offico no od. On

July 3, the

Home demand accounted for that the rest of the Sterling U.K. for the Austasin Lina are America..

24,048,000 bbls daily average Agriculture Department Kranted

will be increasing to the Blue Star Line Ltd.

When he died, in March, 1801, cruda oll 0,620,700, bbls, daily mast of this Fise but there was Arta Cuba a quota of 3.350,000 100-15

increase "In the imports én welcome

a notice in the local newspaper average crude oil, runs to ma ner future needs

Felaxation her

and when, for example, IPF volume of textiles, cars

described him as "Mr Daniel,234,000 bbls: meet

distinte light of the Australian restrictions BANK LOAN the six months ending on De aircraft exported in the second

shipbuilder Brocklebank,

and fuel oil 10,307,000 bbls-United cimber 31, 1053.

was no.resi If shipments quarter compared with a year becomes fully effective.

"It is most important that

rope maker," There

of bla mention

shipowning. under the general licence to Cuba

earlier.

manufacturers should be of this in excess were much

Against this must be set

activities,

was he although actually

builder the

and Reconstruction and Development figure. Oft ofcials said they decline of production in the both opportun caste has decided to open has made Japan

a loan of $7,300,000

000 would investigate.

caglacering and other metal- this

master/owner of the Castor. talks at the Hague shortly for for electric power development International Trade Office using Industries apart from exports by quoting attractivo

It was on their father's death revision of the current Japani-

also

announced that while ex- thase producing vehicles, cranes prices and short delivery dates. Largo arrivals of Indonesian that Thomas and John gave the Netherlands Trade Agreement in the State of Minas Gerais in

Brazil.

"And this Power from Д INW

Twenty and excavators and other plant port licences would continue to

course in order to increase the trade

be done at the Remorqubber lod to hedglag by Ideal firm its present title. shipments of for civil engineering.

the expense sellers during the week

but years were to pass before ́efforts to sell in volume, and remedy Japan's un-actory templated will be be required

used chiefly by manufacturing American

rice

the Far This decrease the Treasury of relaxing

was started

Karachi, Sept. 8. favourable balunce, Japanese and mining Industries in the Eastern countries,

including says, largely reflects the fall in non-sterling turkets, the results business conllmed to be quiet. shipping service

Lewis & Pet's week and res from Liverpool, and since then the whole

The Karachi raw cotton mar- Government soitrees reported

Japan,

the which may on letters of credit, which the volume of exports it

reasonably port said rubber prices fluctuated the great House of Brocklebank ket closed this tuday.

wook rather considered compared be been required; The joint borrowers were the wreviously had have been with the surus period of 1952,

cou- has been gradually and surely easy owing to the absence of encouraging In view of the within hiperony Brits and

there dificult

wig te ins built at the port, albeit en Japan will propose the exien-

the foreign/demand plus expeota- conditions prevalling in Zar Minns pany applications for export concerned there has been an many markets over

as employment is

last 18 nation' to trade.

foundations laid by

Dantel tion of a larger American cof- sion of the trade volume from Centrals Electricas de

of remilled gade, Brocklebank In 1770, 3,000 miles (on US$7.5 millon ti year each way, spelares, como perting licences. office added that no increase in the number working months."

to goods industries

away lo Americe. But, with rising home de- were more plentiful owing do Alto Rio Grande

in consumer

arrivals of milling" "strets the slack in the million, record, to US$13 million cach The loan was guaranteed by the

partly at the expense of some mand and Government of Brazil,

loss of manpower in the metal-system much reduced, it warns, from Indonesia, the report said.

ta Britain's Malayan exports for August manufacturing and metal-using the

exports 19

were 40,422 tons compared withi undertake 22.222 tong industries.

potentiaccative The project to be financed, The current agreement was

work

July--United "The Treasury does not appear, the slow and hazardous the help of the Bank's signed in the Autumn of 1951 with

Edditional however,

export be particularly of cultivating and was later extended, with no loan, Includes the buliding of a

concerned at this loss of labour the results which are needed.

Inadequate to secure Grande sinte axed for its expiration. As River at Itutinga Falls, a

the Rio dom across

in the vital exporting indus- the of July 10, the trade bilanes Rive

It is tries.

a perplexing situation; but the decision to launch un-house with two 12,000-kilowat million

generating units, 130 kilometres The Japanese Government at of transmission Unes, and several

State,

with wing secount of US$2, Companhia de Ele-

way.

under

stood at US$2.2

the

favourable to Japan.

current

the forthcoming negotiations an

will request the Netherlands to peeled to

sub-stations. The factory is ex- begin operation in January 1055 and to be in full at the beginning of

spread their Imports over operation

wider range of Items-France-1980. The total cost of the pro

Presse.

ject was estimated to be

the

equivalent of 18,000,000 dollars, of 7,300,003 The Bank's Jonn

changes were being made in its present system of licensing rice exports to Latin Americh and Europe-Reuter

Not Affected

By Japanese Competition

New York, Sopt, 6.

A spokesman for the

cotton

of

to

THERE TO WIN

B

In the past •year It points new export drive and to place out, industries which have been a new Minister at the head of Winston able 40 Increase the volume of it shows tout Sir exports or which were on de- Churchill and his advisers are

Press,

Tariff Increase

Objection

Washington, Sept. 6.

An Argentine official sald to-

fence work seem generally to / dolermined to strike the right day. that any increase in the

hour workers are

balance betweeg and defeatism.

complacency

Shipping Line's dollars will be used to pay the textile merchants of New York appear to be any general short- Dollar, Receipts

Profits

the

foreign exchange costs.

Principal consumers will be a ferro-alloy factory soon to bo Sydney, Sept. 6. constructed, a cement mill now construction, and a tin The Commonwealth Bhipping under

The remainder of the Line, owned by the Australian mine. Government and subject to salb power will be taken by utilities negotiations, earned a profit of serving several small towns. about four per cent for

Tho Itutinga project wag financial year ended last March.

Announcing thin, Shipping prepared by the Joint Brazil Minister Sonator George McLeaf United States Economie De sald the latest rate. reached velopment

Commission in after provision had been made co-operation with the state of for normal

Grande Electric Company. The was not exrcerive:

Nogotiations, were proceeding Commission considered the pro- to sell the line, of 32 ships, to jeet to be of high priority in the Australian steamship owners economic development of Brasil,

-Reuter, -only.—China- Mall Special....

Cut In Chile

West German

Of

Fleet Merchant Ships

Hamburg, Sept. 0.

was said to be keep- Ing out pending

I Pakistan Government import policy an- nouncement.

According

to

present

the crop Ideas, Pakistan will have sbout one million boles portable surplus

1953-84 season,

ex- during the

Raw cotton prices closed this week-ond as follow

4-F "PRAJAU, Hoji)" Qui, "

Rupees per maund

189 Roller Gan Rupees par

kuhu

za

FN'T Sind, Roller Gin, Rupees. por- inkund

07-13

47

06-0

00.0

-United Praw

Bank

The Wast German merchant 1280 NT Sind, Baw Cin

Rupees per mound Halted States wool taflix would feet totalled 1.7 million grosse FNT Punjab, Roller Gin contradict this country's positons as of July 1, of which 45.3 upees per maund

of free trade in a free

per cant consisted of new 109 FNT Funjab Baw din

Rupees per maund world.

Vémoly beult since the end of the Sodor Cesar Bunge, Economie war, according to the Marine Federal Sounsellor of the Argentine Department of the Embassy proteated at the US Ministry Transport. Tarif Copnmission hearing up to the beginning of July New proposal by, the Agriculture De-this year, 301 merchant vessels partment that wook import duties be increased seven cents of all types aggregating 591,250 hard-gross tons were bulit under the Den bound to

Protect espressed domestic growers. —

successive buliding pro-

Santiago, Sept. 6, Private enterprise The Chilean State Bank has grammes. United Prose,

In the same period bullt 151 begun operations. The new in- *ESTegating. 478,200, gross stitution is designed to control

Up

State In Chile

have been able to secure the they needed.

so motak want there Industries

docs not

said the Japanese have pro pentod no great difficulty to the age of manpower.

The Treasury belleves that industry so far.

circumstances "In In the past three or four you should not be cult t82“ pro- there have been some temporary duce most

Tor export

Santiago, Sept. 8. upsets caused by Finance im when we

Lower prices for copper found the

and nitrate have cut offre ports, he said, but they usually markets for theat have been mixed

-And the of table linens, doubtedly

there for Bestimated dollar exchange

Brijjah | capta" this year. kays- 400,000,007, an oficial spokesian gildi" (os some trouble but experiencing som

According to the

Ocar" Homers. President the Industry In general has opportuniles exist for

* Trade not been hurt, he' mid

siderable expansion of British the "In general," "Fractions of sales in the United States,

Bid the orging T Businem was done in the local talking, lato, account bulldjag on Tho formar National Savings * 94% E140,002,00%, 7 dol- undmmar

Ihr privalo account, it is expected Bank. Agrarian Credit been mixed.

"Law, my there American countriei, Western Jar exchange, wote had bude to MCME Com a 2 is ho "danger" from panee Europe and some Middle East reduced to $100,000,000 due id

the price slump of Chile two morentinulider 10 competition and a few others countries.

the Japanese must 150

Iteathcoat Part of Mr Amary's task will be to ensure watched.-United Press.

on-

company taxation, Minas Gerais and the Rio I American manufacturers' havo †chimádó,' { some yndelier : Latin? U

Exchange Rates

chief export products United Sim-ticals (per 100)

Endoscillia" plasires (per: 100)

10.90%

37:30

عالمانه

tops

prodit and to channel it into After the completion of the increased farm. Industrial and current bullding programme and mining production,

Bank

dogy, have between More Bank and Industrial

minfans frockton Credit Inalifute wire me

* marchant "Whipping by the in to the new bank which has

of beginning of 1955, China Maila capital Special

United Press,

$49,000,000