1953-10-09 — Page 9

MESSAGERIES

P.B. Box 53. Queen's Bldg.

M

THE CHINA MAIL, FRIDAY, OCTOBER 9, 1053.

MARITIMES Speculation

Speculation Rife In London Trade With

Tel:

M

FAST PASSENGER/FREICHT SERVICE

From Marapilien

"LA MARSEILLAISE" 15. Sept.

Yokohama

Leaves Maravilles

Due 11.K.

For

{# T'ort

"VIET NAM

Oct.

*CAMBODGE"

.27 Oct.

19 Nov.

Yokohama

To sravilius

Leaves Hongkong) Dub Merarities

Via

"LA MARSEILLAISE"

#1 Oct.

3- Nav.

Saigon

"VET-NAM

3 Nov,

20 Nov.

"CAMBODGE"

2 Dec.

23 - Dec.

Baikon Kalen

Vin Marseilles to all Mediterranean & West African Porta Via Djiboult to Madagascar,

From Europe

"IRAQUADDY"

* "MONKAX"

FREICHT SERVICE

**・・ Antwerp- 1 Sept.

Dunkirk-early Ort,

Leaves Kestung

То Моторе

"COURBEULLES"

"AURAY"

"IRAQUADDY"

Left

20

Ock.

?

Ort.

วง Nov.

Die 1.K.

Det. 22 Novi

For

Aulia & Japan

Beaver 19.3.

Mania & Japan For

1}. Oct

1

1 Nov.

19 Nov.

Saigon, Singapore, Djibouti, Martellles, Aiglers, Oran, Tangiers,

Casablanca, Le Havre, Antwerp. Rotterdam & Dunkuk.

Subject to change without notice.

M.V. "LA MARSEILLAISE"

will sail for

YOKOHAMA and KOBE

оп

Saturday, October 10, 1953, at 10 p.m.

EMBARKATION:

BAGGAGE:

Passengers are requested to board the vessel between 5 and 9 p.m. on Saturday the 10th October.

Baggage room, hold and cabin luggage have to be registered at the Kowloon Godowns, Godown No. 50 (No. 2 Gate, Canton Road entrance) from 9 a.m. to noon, and from 2 to 5 p.m. on Saturday the 10th October.

CABIN BAGGAGE: cannot be accepted on board before

Passengers

embarkation time. Passengers will

therefore have

to

collect their

baggage from the godown between

5 and 9 p.m. on the 10th October, during which period cabin baggage only may be registered.

ALL

are requested to note that BAGGAGE must be registered as prescribed above.

Compagnie Des Messageries Maritimes Queen's Building

EVERETT

Tel: 26651

LINES

EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.

"LENEVERETT"

In Port

Sails

Loading

Oct, 10 for

Kobe

& Yokohama,

"BRADEVERETT"

Arrives Sails

Oct. 19 Iron Manila. Oct. 20 for Singapore,

Rungoon &

(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawał

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 Salls

LAO

Arrives Salla

Oct, 10 from Jappon. Oct, 20 for Singapore, Port Swetten.

Penang. ham,

Madrus, Colombo, Cochin, Bombay, Karachi, Basrah, Khor- ramshahr & Bahrein.

Yokohama.

Oct. 21 from Singapore. Oct, 22 for Kobe,

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

EVERETT STEAMSHIP Corporation S/A (Incorporated in the Republic of Panama

With" Limited Liabiliy

Queon's Building, Telephone 31206. Chinese Department: Telephone 28293.

BUSINESS, REGULATION

ORDINANCE 1952 ·

Copies of the prescribed Forms 1(a) 1(b) and 1(c)

Now On Sale at S. C. M. Post, Ltd. HONGKONG AND KOWLOON

TEN CENTS EACH

HONGKONG Over

SHARE MARKET

(From Our Correspondent!

Business done on the Stock

Exchange this morning amount ed to 410,304.28. None

tona and the morning's transac- tions:-

The

Agenda Of Next Empire Talks

(By PATRICK MAITLAND, M.P.)

London, Oct. 8.

Now that the Commonwealth Finance Ministers are to meet again. in January, this time in Canberra, there is speculation about the agenda. None has been even mooted, beyond the project that the Ministers should review progress made since last November toward the objectives set out

SHADES BUYERS SELLENS SALKs then,

DANKS

dik Bank $510

But Ama

INSURANCES

Union

TUK Fire

SHIPPING

Waterbost Asia Nav,

DOCKS, ETC.

6. What

Dotk

Providnatt

Wheelok

LAND, ETC.

HK Hotel

tus- Land

Humphreys

UTILCDES

טים

10

1936 30

035

100

1.39 1.45

B712

100

21

Indeed, it is proposed rather to develop the custom of holding approximately annual meetings than to slip back into the habit of conferring only when a crisis has developed.

Conference of

The Finance Ministers' November 1952, which propounded the 'Common- 12.60 13 1290 13.90 wealth Plan', followed one in the previous January,

which set specific targets.

00.00 11000 11-0

7.00 $3000

0335 6412 500

13.20 171

Fir Fetry 133

Light (0) 13,70 13.00 2700 ** 13,89 LIGHT (N) 1985

Sectre

Teleplione

INDUSTRIALS

20 20.50

000 or 26.20

Cement.... 18.70 $9

102N

STORES, ETC

Daly

17.00

1023.30 500

24 100 * 23.50

Crawford 23.co

100 or 23.65

2000 2.39

Walzon

COTTONS

EWU

New York

Stock Exchange

Government

Here is

as a whole stand, dear

with the

LTC

:

Red China

Colombo, Oct. 8. Mir Reginald” Mauding, Economie Scoretary to the British Treasury, sald at a prosa confervnov here today

nothing could

ald against Ceylon Belling rubber to China if it sulted the economy of the filand, and because

ure Ceylon need. ed rieć,

Anglo Chinese. trade had increased in volame heeeatly, he maid, bul Belişin strictly adháred to the United Naligns deci- alòn by not selling wifate- glo materials to Communist China-Reuter.

Naguib Regime's Changes In Economic Policy

When the present regime came to power in rale, would Egypt in July last year the 1951-52 financial year had just ended with a deficit of £E.88m., the general reserve, which stood at £E.60m. at the beginning of 1951, was practically exhausted and there was a legacy of a large overdraft with the National Bank of Egypt.

BASIC FACT

Japanese Merchant Marine

Mare Competition For Britain

Tokyo, Oct. 9. Japanese shipping com- panies are planning in- to their existing services and the establish mont of new routes, it fal Ibarned.

creases

The Ministry of Transport has asked eight leading lines for their plans, for extended over-. scas services for the period up to April, 1957.

sa

The eight companies are Nippon Yusen Kaisha (N.Y.K.) Line: the Osaka Shosen Kaister (O.S.K.) Line; the Kokusai Shipping Company; the Daido Marine Transport Company; the New Japan

Shipping

pany: The Com- chiunto the Mitsui

Kawasaki

Company

Sempak

the

com-

Shipping Company. Information already supplied to the Ministry by these panies indicates a trend towards the establishment of round-the- world services, linking

with Europe, India and

Tan.

Japan Pakis

The NY.K. Line is hoping to establish a round-the-world ser- service to Peru and Chile, with vice" and a South Ambrleon and voyage per month. The company also hopes to open a

monthly service to Hawall and the U.S. West Coast in addition

to increasing sallings to Europa from one to two a month, and to Inaugurale a monthly sailing on the Australian route.

MONTHLY INCREASES The O.S.K. Line intends to

the South African, Indonesia and New Zealand routes, and to Increase Its callings on the India-Pakistan and Rangoon- Calcutta routes from the present one sailing a month to two a month, instead

the Com- pany's

onc present

sailing every two months on the Japan-

one

Europe run and the Japan- Australia run, it is hoped to increase the sallings to month.

The Mitsui Shipping Company of has announced its intention

Jok opening new services to Japan

with South America, Europe and Austrails with # monthly sailing, and will begin two sailings A manth on

That meeting had been pro- Union, which embraces coun- posed by the outgoing Labour tries doing more than half the from...... 25.50 20 1000 ₫ 25.90 | Chancellor of the Exchequer, free world's trade, came up for And it was one review and renewal last June, Mr Guliskell, 343 + 0.05 in the series of several held It binds the member countries economic 540 @ 2030 While the Labour

to keep their brond in policies

step

ep arul, by im- 1000 28.10 were in office. 300 23.10

1951, In January

at any when the plication stealing area faced a very store convertiblity,

forbid one-eldod moves to and nearly disastrous, loss of the Finance Ministers

where Belgium and 320 resoTVEY,

restoring the Germany, which are normally in 2006 23.20 aimed first at 300 .20 balanço of payments. They surplus with EPU, are growing

restive. They want an said in their communique that

early they would urge

rge their Govern- fleecedan, ments to take muusurca so that leven while taking risk. On

This was a result of the previous regime's hand "the sterling area

other.

other members of prolific spending which, with the start of the will be

In Balance with

which the rest

less happily Korean War in 1950 and the resultant boom in that Britain might of the world in respect of the

be heading for premature second half of 1952."

cotton prices, led to a record increase in inflation- There followed Д hamlly restoration of the convertible

pound, bolstered not by a high ary pressure as the additional revenue was direct-operate one saliing a month on about domestic inflation, then a glance forward

to the longer trade turnover and a favourable ed not to productive schemes but to an extension term. A lasting solution of the balance, but by continued quotas of the Government machinery. sterling area's problems could and other trade restalations de- enly be found when arta's trade signed to hold the pound level.

Af the start of 1958, a slump, first is to start several productive was "on a substantially higher

was beginning to be felt in projects as soon as possible in level than New York, Oct. 8.

at present, when It way to reassure the second Egypt. Following the malu- [order to relieve the acute un- .Stocks closed on the upside sterling is freely convertible

group and to satisfy the first tenance

of exceptionally high employment problem and also by Into all the main currencies of that Britain proposed the EPU prices, thanks to artificial boost to ease some of the deflationary again today but it was

A sum narrow margin as rails and the world, and its position aced charter should be renewed for ing, aided and abetted by the pressure hat has set in.

be longer

01 £E.42m.-to It would sutsty the Gov

Government then supported by

one year.

in power, number of Industrials angged ro

be financed restrictions on imports... It is wenker countries that no pre-cotton exports showed

a sharp

mainly by interħal loang --- I$ near the close.

to be spent during the Prices in fractionally above accordingly necessary that for mature stops would be token drop, while Imports continued down

current financial year which the sterling arca But by limiting the renewal to on an unrestricted scale. yesterday's, with a few special-some years ties gaining a point or more, should be in surplus

This alluation roon had the started on July 1 last a single year it would encourage Turnover totalled only 960,000 rest of the world and that Belgium and Germany. And is effect of widening the gap in

countrica should operations could be tailed off the balance of

payments, the| shares compared with 1,010,000 all member

balance their external accounts, just as American polldes took deficit rising from £E.31m, In The second aim is to imple- shares yesterday.

the second quarter of 1951 to Industrials

mont a long-term industriailsa- ...It is our definite objective legislative effect. closed 19 cents

make Sterling convertible

The basic fact about a free £E

£E.45m. in the corresponding tion policy. This includes the higher on average and the to

At the same construction of the high dam at utilities 12 cents higher but and to keep it so".

pound is this. It could exist period of 1952, reflect- rails dipped 17 cents,

By the time the Prime Minis before the war when the sterling time, Egyptian banks' holdings Aswan, which will also serve to of foreign credits fell from Irrigate new tracts of land and Ing numerous small losses. In- lers had finished their

prea reserves totalled, at present November 1952 they vestment buying again made fèrence

date, the

res E300m. in May of 1952 and to cultural production which reserves have

ake considerable to ing area would achieve balance

covered ably Du Pont, up a point

roughly $2,400 £E.271m. by the end of the has to mako

ble pro- gress before being able to keep $102.

Columbla Broadcasting with the rest of the work in

having sunk from the same year,

pace with the yearly population A & B issues each moved up the second half of this year''.

post-war pealt of $3,800 million.

ADVERSE EFFECTS increase. Other projects are In mid-1051 to a record low of 1 points as the company de

extension of the iron and steel, THREE CONDITIONS

$1,000 million. Only a high monstrated today for the first

The slump in cotton prices looked ahead. Then they

and fertiliser Industries. paper Lime its new colour television They agreed to seek the co-turnover of trade with a favour- had the effect of reducing the Plans are also under way for

balance and a suficient national income and resulted in establishing new camera equipment and receiver operation of other countries in able

Industries for apparatus including a low-cost plan for expanding world reserve, say of $6,000 million, a big drop in customs duties the manufacture of tyres and could maintain the pound one one of the State's main sources inner tubes, dry batteries and colour tube.

production and trade

convertibility of

motor revenue-brought about une accumulators, Automobile issues were moder-

vehicle They explained that sterling its freedom and

and started employment

Company a spare parts, electric cables, and ately active. Some of the sharp- convertbillly was part of the were restored,

That is why the Common-downward slide in the value of sugar from beet. est losses appeared in oils where plan, but it would depend on

wealth countries need to meet stocks and shares. American Texas Facille Land three conditions:

Invitations have been sent to Trust and Texas Pacific Coal

The sterling countries again. There has been subj One of the fist tasks of the International arms by the Na- ́ond ̄ Oil ̄lost” a ̈point.

must continue to worit-for-an stantial progives: But neither present regime oncoming into tional Production Council for The New York Stock Ex- overall surplus.

Britain nor any of the sterling power was the implementation the construstion of silos in Cairo bond volume change

WEB at

2. Trading nations, especially Commonwealth sountries wish of a policy of austerity in and Alexandria. These silos sure $2,030,000, and the American the creditors (particularly the to take risks with the pound ** Government expenditure. The expected to save Egypt several Stock Exchange volume at 370,- USA) must "adopt policles these must be supported by con- balance of payments was re-million pounds worth of graini 000 shares.

conducive to International Tauck trade restrictions. The dressed considerably by the

annually by insects dug Finance Ministers are therefore imposition of severe restrictions to Improper storage fiel a. The International Mone- to review the 'broad front' pro- on imports and on spending ties. Incidentally, most Egypt's

both

the dollar expenditure tary Fund or some other source

expanded abroad by

goes every tourists and Kress toward must furnish funds to support

free pound while Government.

year for the purchase of wheat," a convertible pound. The Prime trade and

awaiting

the disclosure of In addition, a cotton policy Ministers said that they would

drawn up which has brought back confidence in the all this.

COT-

SECOND AIM

round-the-world service.

ปี

Tho Kokusai Line, a combing- tion of several Japanese' ship-

itself felt in a few issues, ant- could take note that "the ster values, about $8,000 million. To EE330m. at the end of 1951 to thus aid the expansion of Ding companies, hopes to place

Closing Dow Jones averages:-

trade"

30 industriala

20 rails

15 utilitico

220.72

102.11

05. stocks

40 bonds

Comm. future price index 134.32

United Press.

THE SNAGS

to

The next stage came with Mr consider whether

Washington

for

over

Grain Prices Butler's and Mr Eden's visit to be envied

last Spring. They period. They must look at the will be considerably reduced

In Chicago

Chicago, Chit, 8. Prices of grain futures closed today as follows:-

Wheat-No. 2, red, per bushel in cents)

Boot

1911% Dec. 19211 1009212 1514-3

1986-5 March 1034 May

103f-# July

in cents)

the

destroyed

The

#1

a ship on a round-the-world service by extending its present New York run, and also plans month to operate one ship on the Rangoon-Calcutta route.

Com- The Kawasaki Shipping pany is planning one sailing a month on the India-Pakistan and Central and South America routes, and to open, together with the Yamashita Steamship ал Australia-Japan service with one sulling every two months.

The Yamashita Line, apart from-its-proposed merger witn thh Kawasaki Line, plans two New Dow services, one to Zealand and the other to the V.S. West Coast. Both routes will have one railing a month.

The Daido Marine Transport Company, In addition to

to increas- ing ils present one solling month in the Seattle-Vancouver service to two a month, hopea to start monthly sallings to South America and South Africa, while the New Jupan Shipping Company has informed the Ministry of Transport of its intention to start a round-the- world service, beginning, with

The Rubber

Markets

NEW LEGISLATION veck American acceptance of American policy and hoping to was

enjoy its effects.

Industrial legislation passed They are bound, therefore, to Egyptian market. There is since July, 1952, includes that EPU should every indication that the carry-on granting certain privileges to

11 further

capital invested in at the end of the season foreign

productive schemes. Under the position, including This, together with the $2 per mines and quarries law pros- outlined the st41 ometally secret world tariff

and cent decrease in the acreage peeting companies are no longer 'Plan' and fond the American developments at Genova,

favour

the Administration generally

Consequences of Japan's ad-under cotton, should help the required to be solely Egvatne che sailing a month.

They have Government to dispose of all The minimum percentage of mission to GATT. majar it. But three able

capital joint stock to study the progress of investits stocks by the end of the new difficulties stood out.

ment and development within season which storts at

has been reduced gold To-revalue the price of

help the sterling area that form part beginning of September.

from 51 percent to 40 percent; would greatly (which

the of the general policy for in- The new regime has also renew industries are exempt from the Commonwealth as

cognised the dangers of relying taxation for a period of five world's major producer outside creasing the level of trade.

But though current cvents was part the USSR, and this

on one main crop and agricul years and an aid fund for the textile Industry is 10 be would be poll-will determine the exact agenda turists aro being encouraged to of the 'Plan')

established by law. ference is intended to bo

Various other legislation, such can Government.

the implementation of the To tamper with the system of routine, not a crisis, affair.

customs drawback

system to a high and complex protective

wide variety of primary pro- tariffs would be impossible, in

ducta required. by local in Mr Eisenhower's vow, without

dustries and the provisional hearty Congressional support In

of exemption advance.

excise duties or certain other goods, has been passed in ha local pro attempt to stimulate

and exports, ̈· duction

In the commercial feld.

Com-No. 2. yellow, per busher / Leally difficult for any Amerl: when the time comes, the con- increase their production Land

Spot Deo.

March ipsi

May

July

16015

140 Rye (Prices per bushel in cents)

31019-14 1104 March 1034 Oct-Prices per bushel in cents)

2015-12 Dec. March 1034 Soybean(Prices per, bushel

cent)

Boot

Nov.

Dec.

Jan. 1034

March

May Bority-(Priet

ת!

And to contribute dollars to some stabilisation fund, whether

Sugar Prices

A reclamation schemes several of them with the aid of Point IV are now under way...

through the IMF or otherwis In New York orial-political move, but

would not be easy for a Con- planned to cut 23914 nom.gress that

foreign aid in the hope of ro ducing, toxes at: home.

26412-265

28414-265

2014-202

2575

-

Now York, Oct. 8. World No. 4 sugas futures Not unnaturally, Mr Eisen-closed one to nine points higher hower asked for time. He then with sales of 98 contracts.

July ever bushel in centa) named several commiltoes to

Spot

...130-100

New York Bour, 200 lbs.

sack

more

customs and

AGRÁRIAN REFORM

Iaw The agrarian reform limited holdings to 200 acre per person. This was mainly i the Government le taking care to ensure that the breaking up the bigger properties does not bilateral agreements with most countries of Western Europe entail a drop in production.

Yugoslavia, the Soviet formation of co-operatives

ct

This Being achieved by theon) and India has combica

London, Oct. -8. The rubber market was un certain today with No. 1 spot RSS quoted at 17% pence per lb.

No. 1 RSS mpot

Busines

Bettlement

CIP bails No. 1 RSS Palabo, crepo.

thek

1736-2724 1734

unquoted unau

-Určied · Pres

NEW YORK MARKET

New York,

Closing prices! ^- Doormber

March (1964) May July September

to stop the drain on her | December

-United Press. AMSTERDAM MARKET.

Amsterdam, Oct. B No. 2 rutier por th. Oct. 1.77 biyera

Domestle No. 6`sugar futures which will enable small landka and dollar reserver and study the Phan, That chaired closed one point lower to one awners to make use of modern $13.00 nom, by Mr Lewis Douglas has re-point higher with sales of 309 machinery and credit facilities at the same time to dispose of with which to buy fertilisers, her hugo cotton stocks Egypt's United Press. ported favourably (but it has contracts.

A demand ton January in face selected seod (sold by the free sterling reserves have been No. 1 rubber per lb, Oct. 1.73 pals ignored the gold issue), A important one, the Clarence of a scarcity of offerings ducnin- Government In order to Increase showing progressive improves No. 3 rubber per B. Oct. 1.08 noth

£E.18m, mark Randall Commission, drawn led the ploture in world con from both parties in Congress, cats. A slight decline in vs the yield and quality of crops) ment and recently passed the No. 1 crepe rubber per

and trade witching operations and cattle. The smaller own In addition, these bilateral has just begun work

dentured trade in domestic feon-will also get taxation rellef, and

nagromments have helped tracts Closing fiduces prices: --- complete exemption in certa erbly to strengthen the LONDON TIN

Contract No. 4, (World),

S. Korean Rice

For Japan?

Tokyo, Oct, 0,

GROWING RESTIVE Though Mr Waugh,' US The Chof. Gabinet Secretary Mr Kenji Fukunaga, uld today delegate to the GAST Cone that Prime Minister Yoshida bad ference in Geneva, has said the told him to study the possibility Administrailon :: will have Lis by legislative programme ready.

of importing 200,000 tons of 10" the Now Year (which is 'n hop,mi from South Korea that

Mr Fukunaga Ba

Baki

́ ́of 'an' exireméré Proti ful and urikpected": "turn): noth- poor ng could pass into: law before Japanese rice crop this your next print or into sensiale daryta ferrect becure the Aunimin; when The Government was nice con- the mjalawm efaction will be sidering importing wheat frien at hands!!!

United States.

greally stirbing the Premier.

Canada and tho ho added Houter,

1. In the interval, the Charter of the European "Payments,

Marob

Jan. 100%

MAY TAK

per

Cuba)

Nov;

באלםי טנה

Another move has been the position of the Egan pound. the abrost. So far, however, therd recent decision to allow farmers to bule prospect of any case totexport 80 per bent of vegetment of the restrictions on In ables grown on tard previously porte from countries

a18allotted to other crops, or which trude and

had lain barren. This year's with Eg

not having

..

1.88 pakt

United Press.

MARKET

1.1.

091 614. wheat crop, is `n record at overpontta renover Was' RB-town 'of which

In fact,

to balance

46. bushels, thanks to an in- the -ordinary- Budget for "crease in the rarea under caly current financial year higher tivation and to a higher, Flold custome of paclio dution were nom: Per nere.

Simplenduen oraingoods. In the iffBu Patanthe | conaden

an non-carentials. Paisje | Government has two'sima, The The Financial Times.

فين

London, Oct. 8. “The ties market, was persler,

Closing tors were for cash. spot in, buyers Business

Bettleme

tin, buyers