MESSAGERIES
P.O. Box 53. Queen's Bldg.
M
MARITIMES
Tel: 28851.
M
FAST PASSENGER/FREIGHT SERVICE
From Marseilles
"LA MARSEILLAISE"
»VIET-NAB
"CAMBODGE”
To Mayichies
"LA MARSEILLAISE“
“VIỆT NA
"CAMBODGE"
Leaves Marsektion
15 Sept.
A diet.
13 04:
21. Ort,
Leaves Hongkong
3 Nov.
13 Nov.
the 26.3.
For
* Oel, Yokohama
Nov,
5 Nay, Yokohama
Due Marielles
13 Day:
26 Nov.
Via Ralkon Saigon
11 Dec. Balgon
Via Marcilles to all Mediterranean & West Africa Ports
Via Djibouti to Madagascar.
From Europe
"AURAY
"IRAQUADDY"
"MONKAY"
To Euro
"COURSEULLEA”
"AURAY"
"IRAQUADDY"
$50.
►
FREIGHT SERVICE
Left
Antwerp-27 Joy
Antwerp- I kept.,
„Dunkirk-epṛly Vet.
Leaves Kerline
Oct.
30 Oct.
13 Nov.
the N.K.
23 Sept,
For Mana & Japan
2 the,
Montla & JEAN
上
24 Nov.
Maja Japas -
Leaves R. For
1 Oct.
INOY.
14 Nov
1
'ranglets.
Salton, Singapore. Djibouti, Morrellas, Algtern, iran,
Casablanca, Le Havre, Antwerp. Rutterdam & Inkirk.
Hubject in change without notice,
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight-refrigerator-paasenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya. Rangoon, Calcutta and Chittagong,
"BRADEVERETT”
Arrives Suits
Sept. 19 from Slugapure,
Sept. 20 for Kobe, Osaka, Napoya
as Yokohama,
"NOREVERETT”
Artives Salls
Sept. 20 I'm Manila,
Sept, 21 for Singapore,
Rangoon
&
Penont Calcutta,
(Accepting cargo for transhipment Kobe/Tusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippinės, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"STAR BETELGEUSE”
Arrives Salts
Sept. 10 from Singapore. Sept. 20 for Pusan, Kobe
Yokohumu.
"STAR ALCYONE“
Arrives Salts
Sept, 20 from Japan, Sept. 21
&
for Singapore, Port Swetten- hasi, Penang. Madras, Colombo, Cochin, Bombay, Karachi, Khairomshahr, Basrah & Bahrein.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION 5/A
(Incorporated in the Republic of Panama
With Limited ability
Queen's Building, Telephone 31206. Chinese- Department: Telephono-28293. -
New York
Textiles Report
It was reported today,
Shipments
for the first eight months of 1953 came to 629,- 500,000 pounds, a gain of 10 per cent over the 751,000,000 pounds In the like 1932 period.
WORLD
THE CHINA MAIL, MONDAY, SEPTEMBER 14, 1953.
City Puzzled
By Share
Prices' Trend
REFUSAL TO FOLLOW
WALL STREET LEAD
(FROM OUR OWN CORRESPONDENT)
London, Sept. 13. Well-informed circles in The City are puzzled by the divergence of trend between the London and New York stock exchanges,
This became more marked last week when the Dow Jones index of industrials, which measures share prices in New York, touched its lowest point for the year while the Financial Times share index closed only a fraction below the year's "high."
The bill on the American | the Treeuy hp: refured to market quite clearly owes its allow the compguy to make origin to fears of a decline from issue of fully-pild shures cut of the present high level of capital 'reservés arising from business activity some time revaluation of fixed assets.
next tater this
year or early yetir.
OILS DISAPPOINT
Lancashire Cotton gained 1/3d. to 48s. 8. Fard Molors Godshed 7% prnce higher at 32s. 140.
[1
London Nut the
movement cannot be so easily explained,
The Flownelat Times points ent that
one won for the strength of the London equity
Interest in. oll shores remalezá market is und:ubtedly the risc
This, traniny
a low level and Anglo- of gilt-edged securities.
Jost Is. 3d, over the ty, owes samething to the
shillings despite coming Government operations week to 155
that the new Iranian bu! ht to the continuing reports
Goverzmo't was ready to start inercase in the gold reservta.
An even greater factor in the of talks. strength
ritare of endinary appears to be the recent upware trend of dividends.
Mery comparies that have pursued cauficus dividend
are nove stopping up policies ibele distributions.
.
Operators said the markets, by Anch large, have bghaved very well throughout the week.
The fall on Wall Street pud the usual week-end influences before the accounts next Tues- day lind rubduing effect but the tone at the close
was rald to continue frm which would trend of the quickly trden in a more active
market.-United Press.
LABOUR FRONT
Whether London
the market not will cojiend
ទេព
Continuḥa partly on th: performance of the exporting industries.
But investora will als watching developments on th labour front
und in particular
Ex-
the outcome of the engineering unlons claim for a 15 per cent wage incrtars,
Features of the Stock chunge hst week were the continued strength of Funds and the spread of Interest to first- class equities.
War Loan 34 per cent res 8/9d to 83-1/16, the highest level it has reached so far this your.
RISE IN "MPS"
"SWITCH”
TRADE
PLANNED
Tokyo, Sept. 13. Japan plans to pry her excess of imports from France through "switch" trade, sources close to the International Trade and Industry Ministry indicated to- day.
Extended
Barter Pact|| JAPANESE APPLICATION
FOR G.A.T.T.
G.A.T.T. MEMBERSHIP COMING UP AT GENEVA
Manila, Sept. 13. President Elpidio Quirino cu Sunday authorised tho extension of The barter trade Agreements between the Philipphics and Japan for four months,
were lo
The agreements expire this month, With President Quirino's authorisation. Acting Foreign Affairs Secretary Felino
ino Neri will nevoilate -the sixth extension of the barter agreements in their present form from Octo ber 1 to January 31,,next year-France-Presse.
HONGKONG SHARE MARKET
(From Our Correspondent)
Business done on the Stock Exchange this morning amount. et to $437.411. Noon quotations and the morning's transactions: MITARES BUYERS SELLERS SALES
INSURANCES
Canton
Union Underwriters
11K re
SIPPING
(FROM OUR OWN corresponDENT)
London, Sept. 13.
Three items dominate the agenda for the eighth session of the General Agreement on Tariffs and Trade (GATT) which opens in Geneva this week.
"In the order of public. interest, though not necessarily of importance, these are:
The Japanese application for "provisional arzociate membership", Britain's cerlain foreign ngricultural request for permission to raise the import duties on products while retaining the right to give duty-free entry to similar Common- wealth products; and the proposal-backed by the US-lo extend the life of Existing tariff concessions for a further 12 months.
Japan's application for pro- request for a conditional waiver vialanal associate membership of of the "no new prefa gnco”-rulu. the 34-nation "larlíf club"" Isis consistent with the bale bound to Uu the chief talking-provisions of CATT point at Geneva,
This compromise proposal has obviously been framed to avoid embarrassment to the United Bintes Government.
The presidential commkalon
Washingien
1
The Imports affecto; Avoyld be these which er: atient re-
cetive dey stricted by gy » - other pro-
Any increase
would, more- in import
only to those" prò-| Bet up
to over, relaty
ducts of which Imports from the examine American for Commonwealth are negligible or economie policy is not due to complete
until next
be lo Its task Spring.
Even assuming that is report is based on the doctrine of "trade not aid" it will therefore be at 22 States
cast a year before the United
Government can take | In a new round of multi- icipal tariff bargaining such as
BANKS
HK Dank Ensi Ana
1923
10 1530
136
230
140
.. 1.40 1.47!2
2100 100
12 4000 0% 0.80 7400
67%
as
0 100
591
12
10
Asia Nov DOKS, ETC.
Bork Provident Wheelock LAND, ETC.
...
RK Noir TIK Land XD Sa Lone Itumphrey.. UTILITIES"
Tra XD... Pehk Fram
(01
Peak Tram
(N)
7.05 1.00 4333
21J0
Star Ferry XD' 19 C. Light (0) 1916
C. Light (N1 8.90 Elgenic XD, 20.30 23.0 Telembicie
INDUSTRIALS
Cemet
STORES, ETC.
Dairy Watson
COTTONS Texille
part
ED there would nili, question of widening the margin of preference enjoyed by Cam- monwealth preducers except on strictly' legalistic interpretation of the present GATT rules.
WAITING ON U.S.
The third important matter
would be needed before Japan which the GATT countries Will
Indonesian
Blow At Foreign Importers
Singapore, Sept. 13. Singapore und Malayan Chinese traders are con-
sidering a proposal to send
21.60 could become a full member of have to consider et Geneva an unofficial trade mission
23,2730 gr 25
1.00 | GÄTT.
200 12.00 2000. 13
744
DE 42 2001 20
In the meantime the conte of the cxisting taria
tracting parties of GATT will be invited to extend most-favoured- nation treatment to Japan on a temporary basis.
ALMOST CERTAIN
Japan's
the question of extending the concessions.
At present these are due to expire at the end of this year, and members wil then be £rge to modify or withdraw them."
Here again GATT Inds self in the position of being unable to make any major decision until Foreign be American-
pulley is clarified.
their
to Indonesia as a result of Indonesia's latest restric- tion on imports.
One local trader sald tho müstan would meet Importers in Indonesia to promote trade and exchange views.
tint
Meanwhile it is understood some Singapore foreign Importing Arms with branches economic Indonesia are setting up new compantes in an effort to fall the lutest Indo- into line with
In return Japan would under- take to "bind" her own tariff at the present level.
application will 27 40 26.0 granted if two-thirds of the con-
give tracting parties assent. The rest would presum- The problem will probably be 18.70 150 250 18.50 ably then be free to grant her solved by accepting the Ameri- nesin trade move, most-favoured-nation treatment cen provesa) to extend. the life of the existing; tariff concessions or not, as they spent.
As America Is supporting for a further 12 months. fot 2005. Japan's application' a favourable
American which has indenesion directors. By then vote is considered to be plinost Government may be empowered
frm The spokesman of the certain.
Lo nickotiate
tariff said
"We figured we would But that does not mean there will be nu upposition at all torcement; but in the meantime whit out before we had to with-
23.30 23.30 1000 49 23.70
22.60
SCELLANEOUS Yangtze (0)
4.50 2300
IN) 6.0 8.20
Industrial
Boom In
America Continues
0.03
Japan's admission even on the exporters
the
11 new
will rt feast
basis of provisional tochte scurid of stability in riffs. membership.
Australia, for one, will fight
the proposal.
BRITISH POSITION
The British position is rather Many pelliclans more vague. mid industrialisti Icar cheap Japanese goods would flood the Brilish market if Japan became a member of GATT.
And this will naturally have a strong bearing on Britzen's States attitude at On the United
Geneva. domestic scene the indus trial boom continues. owes
the
Among the "blue chips" Im- perial Chemicals put on 2/- to
The trade balance in open 47/01 on runcurs of a coming | recount between Japan and scrip issue and Associated France at the end of July was Electrical Industries Improved $10.800,000 in favour of France,
cald. Since Cources on a proposal to duble the the
H Lordinary capital by a one-for- swing limit fixed in the Japan-
In the
"Make-over? market 000, Japan at present rumour still links the names of France $2,800.000 in cash. Montague Barten, the tellering Great Universal concern, and Stores.
one free issue to shareholders. France trade accord is $8,000,-
OUTPUT OF speculators
RUBBER
Wellington, Sept. 13.
Secretariat of the International Rubber Study Group. The US (Department of Commerze
scunzed today,
Д
employment 02,354,000 persons.
www
Another Slash In
Imports?
The French Minjajer
Economy in fact, Britain already. Finance Bl
August totalied competition in Britain's export
markels.
One Arm here reported that it had handed over its business In Djakarta to a new company
be draw.
I
of
came
CX-
Jie sold his firm bad reshuffled 15 Indonesian connection in
when April
nationalisation
moves were brewing. Lacking official confirmation, the Singa- pore traders thought that the Indonesian
means move
the Elimination of foreign importern from many markets in Indonesia,
One business man described-It sangther nail in the coffin"
af foreign.importers in Indonesia..
Bumper Crop Expected In Burma
It was reported garlier this Japan meet favoured Faure, is to submit further week that the Indonesian gives nation treatment. The difficulty proposals to reduce French im- Government had decided that The Federal Reserve Board is that a strong section of the perir to one of the next Coun-alal foreign exchange alloca
lens for the purchase of a wide In line with its new policy, provisionally estimates indus- Conservative Party would oppose cils of Minisers.
variety of goods up to next Government the Japanese
re trial production in August at any attempt to make this a mat-
would The propemle would involve A
be
given to 1935-30 ta of right. Bunca's denied that talks etntly authorised the local Fuji 238 per cent of the
Indonesian "national Importers". July.
If the British Government increased import dulles on
cf foreign luxury United Press. were going on for disposing of Trading Company to sell $3,000,- average against 233 in
objects to Japan's admission to number
reductiph the family's controlling interest 000 worth of Canadian soybean Record high employment and a but this
other certain dil not
cakes to France in switch trade. post-war low in unemployment GATT It is therefore likely to goods as well as a
imperta of discourage
recorded during the be
on political rather thin The company's Sume $5,000,000 worth of ather were
strict economic grounds.
ron-essential products. Details. shares closed at 23/-, a Flag of exports to Flange will shortly month,
A possible way out would be of the products concerned were 2/0d
the weck,
while be authorised in a similar pro-
With 63,408,000 persons re- "Gussie" did even better-they cedure, the same
sources ex- ported by the Commerce DC for it to chatain from voting on not given.
the Japanese application and jumped o/d to
pected.
M. Faure will, at the 43/0d.
partment to be holding jobs in then, if it is granted, to withhold
G number Interest if the foreign band
Meanwhile, the leading local August the number of
formal right to meat-lavoured-time, suggest market was chiefly in Germain
Increase exports, mcasures to shipbuilder, New York, Sept. 13
the Ishikawajima ployed dropped to 1,240,000 — a
reducing the issues. Dr Adenner's
with a view to victory
is Industry Company,
level considered close to a bare nation treatment. World production of saturate the polls brought in inves¡CAVY Shipments of rayan, acelute;
minimum. July employment PERTINENT QUESTION French payments deficit. There the yarns and staple by domestic rubber mounted to 152,500 leng tots, and German 42 per cent negotiating a contract for
was 03,120,000 and unemploy
will include the granting lot producer's in August totalled tons in Joly bringing the total closed £5 better at 8244. construction of two 4,200 dead-
men, then was 1,540,000.
This would placate those in certain credit facilities to per of seven months to 977,500 tons, 104,100,000 pounds, a nine
weight-ton freighters for the
Britain who are opposed 10
porters, further tax exempllong Brazillen navy, according to SPECIALISED AFFAIR cent drep from August a year, according to estimates of the
pickup During August a
in Japan's entry into GATT. Bus and changes in the area ex-
Singapore, Sept. 13. trade report today.
Each ship
commercial and industrial hip- it would do nothing tɔ såive the port ald.
Burma expects a bumper rico London, Sept. 13.
will be equipped with a 2,400- ing offset a seasonal decline in long-term problem of Japanese Interest in the stock markets horsepower turbine engine and farm employment, In
The properals form part of a trop hext year despite Goods in has been specialised rather than
will
1052 be capable of 17 knots,
programme to meet the econo-cartain parts of the country, U but
indi! General
ritualion in Aye Cho, leader of a three- Output in the first seven meats remained Arm
Each ship will cost Y500,000,000.
A question that will cocner or mle and financial
be answered Is France, main features of which man Burmese trade mission to uf 1052
1,020,000 week AVRE
with sentiment helped Under the
today. A rise in private arrangement now
industrial later have to
Die Malnya, soid" cording to this repost.
whether it would dot be better ere increased production, eseller by the German clestion. being negotiated, the Brazilian
ແລະ
His country would have an With August output was 107,000,000
income to on annual Woll
from the British point of view stabiliretien of demesile prices Stret It minde
anavy will pay 40 per cent of Other points
7:6:5:
dollars, This pounds or 3,800,000 lbs, more Work natural rubber consumo.
in GATT than to have Japan
of about Condition there has the total depressed
cost first, spreading 288,000 million
gan her levels, celain than shipments as inventories of
was 1.500 million dollars higher outside it.
Important farm 13,000,000 tons but he warned Lion was estimated D 107,500
encouragement from the remaining payments no
over producers roze lo 95,700,000
than the annual rate in June, zeross the Allnntle but prices in four toms in July 1053, 507,500 toris in
I Japan wore in she would be Instalments.- years 10
the Commerce Department cald. bound to observe the rules of products, such as wine grain, press statement that the pin ofseed and fruit and vegetables.vailing international situation pounds, the highest figure for January-July of ht; yer" en Izuding industries have 500? Prazec-Presse,
to The July showing helped aty month since May 1952, si 840,000 ons in January-July thead just the same.
down in the fair trads laid
It is understood that M. Faure would Influence Burma on how raise the annual seven monthr agreement. But if she is left
asulitanco the bulletin of Texille Econo-year ego.
seek the may
"of this thould be allocated. The Financial Times Index
or seven per cent higher than outside it might not be long private funds to carry out the mics' Burchu Incorporated.
Estimated imports into Russia closed the week at 124.7 which is
the January/July 1032 perlod, belére the
of Her programme. pressure those furt below the nest of 150.0 Ja "Production of rayon regular and Chit included in
population rapidly growing remained figures totaled 1.000 tons in March and 0.7 higher than last
But a warning note wadrove her once again to win tenacity
yarns bas
struck by the National Asso- steady for the last five months Ju'y. 74.500 tons in January-week's dese.
clation of Purchasing Agents, overseas markets by fair means improve working conditions on pay reasonable prices","
the Taris Stock Exchange. Ao- who said in their first
roport or loul.
The British request for per-cording to usualy went interm- In the first seven months of but more support beszne appar-i
since the Korean truce That
import duties ed financial quarters, he may 1953 world consumption
the August plek-up of indusf certain erent later in the week when there
miasten to restural products alm try to. Heat a large loan synthetic On the other hand, it added, rural and
rubber were fudications of a stock short-
trial business had not been as London, Sept. 13.
arises out of GATT's "no new in the autumn-Reuter, stock of acetate
brisk as expected. 1,460,000 yarn dropped was.
tens compared in some cases.
Conrols 4% finished at £02, a The first major test of this
preference" rule. because shipments were higher with 1,352:500 tere in January gain of 4 over the werk before. season's wool prices will occur One-third of the agents cald In
Commonwealth Cryps where com than the 19,700,000 pounds pro- July 1952.
34% War Loans gained to with the opening of the spal order backlogs were lower-products are admitted duty- duced.-United Press.
US consumption Roared to £4 and Treasury
24 Two stles in London on Mon- the largest number to say this free under the pre-war grec- $34,404 tons Irom 717,829 tons, genel 5/10 to £00.
day and with the opening of since June 1952. Twenty-two.
Britain cannot raise her tod foreign consumption outside
the Australian markel in full-per cent of the agents survey-Import duties to similar products of Aueria and China Increased
Ecule operation,
ed said production schedules from foreign countries without more moderately to 501,100 tons
were turning downward from
and widening the margin of Imperial 348,200 tens-United
The fealuro of the foreign In the rales, nearly 200,000 prices were said to be lending preference. Lond markets tvar the strength bales of wool and wooitops will to level off and soften, 1'ress.
of German Issues following the he put up for sale and dealers success of Dr Adenauer in the indicate this heavy cffering The agents generally believed
0
bocn
in
GA-ed :zred through zem:
ond tucks of this yarn amount-Jany of this year and 80,500 tons al selling early in the week
in January-July a year ago, pounds,
ed to 30,700,000 small incicole over July?!
SHIPS SURVEY
and
The Swedish Commerce Colleglum is to curry out n survey of tho economic position of the country's
small medium lennage ships. The In- vestigation
cover 110 100 schooners, most of whleh are old and, worn i out and in need of repair pr replacement.
atcamera and
will
Exchange Quota
JAPANESE ISSUES
Wool Sales This Week
will indicate trend in prices.
payrolls in July lifted persoaul rate ol
GRAVE DISADVANTAGE
ΤΟΥ
-20-01
of market conditions exportable surplus
Malaya.could have almost all the rice she wɗgtad from Burma The Minister aleg intends to next year but would have to
The misslop, which has already been to, Japan, Hong- kong, Macao and Tajland, will |stay In 'Malaya for 10 days.
They plan to return to Burma by way of Goa, Portuguese
RAW COTTON dia, where they will negotiato
EXPORTS
by
An Buttunn and winter up. swing in business might slow in" developing.—Router,
New York; Sept. 13. How...dalton: exports destination as reported in bales This pinces her et a serious by the New York Collon Ex- beledvenerit. For, while other change for the 1953-54 scason to
countries are free to raise in Bopt. 2 on follows: port dulica at will provided thay Britain'
by existing Continent are not boun
the London spot market. In Exchange Rates contagion Britain is
is unable to Orient
elcellens,
The German Dawes Loan 5% finished 64 points higher to Of the amount of wool 182,- £61. Potash 77% 5 points 000 bales will be offered in Talpel, Sept. 13,
higher · 'The Provincial
To £110, Screening
and Polashi Austraila and 10,000 bales on Committee
of the Economic 0% 3% higher at £1034 Stabilisalion Beard
Japanese bonds were active addition, the London market hns sct September's import foreign ex but prices showed only small will offer nearly 2,000 bates of
fractional The results of the suryy are change, quoja at US$235 810.
changes over the Punta enid Commuter The
that week in an irregular Anth," expected to lead to measures to
Industrial shares" were firm help Swelsh tramp shipping to $105,010 way for better tende meet the growing compatiiion with Japan, while the real wes and the whole at anisliod" the
free from German and Dutch ships. for
exchange.France week higher, Imperial Chemi
cala gained despite reports that -Reuter
Preac
Arenas and Falkland
Islands wool
InSouthAfrica; i-nearly at 10,000 bales will be offered five sales.Unlled. Press.
Canada
Business was done in the Zoral d now. PALI are the thTotal for teston Includ-
do d
...
Ing Inters
Total for reason exclud
Ing Itiser i Same Period in
knacket This Effect of this is to "freezo" Liniers med at the following rates ali Frigi impuit duties at their
Impart U.S. dollar (per #1) book 'Birglike noted #F CITI
at prosent level, whether they are Indlovewing gabiklere (per 100) 30.33 bound by concessions or, Hu Slam Bonds (per 100)-4...
The British Government has Singapore (Stralia)...... Indo-China plostres (per 100129
been anxious to stress that its
60,418
14.768
mcluding linjera t Name period last year,
172,437 excluding sintets
---United FrVSK
|8 "trado. Fact. -— China Mall
Special
May Get Orders
From
Russin
London, Sept. 18 The managing director of a group of Industrial companies In Britain announced today that the group expects to recoivo orders for marine engines from Rusala Amounting to £2,000,000. He said, the order would be part of a possible, £10,000,000 order, for trawlers", and "other vessels.—United. Press.
No comments yet.
Private notes are available after approval.