1956-02-14 — Page 7

DODWELL

& CO. LTD.

Barber Line

From U.S. Atlantic and Pacific Coast Ports

m.v. TUNd3RA

20th Feb,

Lords for Kobe à Yokohama.

Barber Wilhelmsen Line

To Pasific & Atlantic Coast Portu via Japan

Am..

m.v. "TALLEYRAND"

Accepting cargo on through hub of Lading for Transhipotent to South America, Caribbean and West Indian Porta.

* Call BALTIMORE firect

"TUNGUN”

Loading Hongkong...

Bih Feb. 5th Mar.

Australia West Pacific Line

1. Y.

MV

AUSTRALIA

BRISBANE SYDNEY MELBOURNE

"ARDS"

Calla Mantia, Samilakan, Mading, Lar & Habal

Calls lioniATA

N. Y. K.

HK/NEAR EAST

J MAT

3

110 Fell Mudan,

"ZUTYD Marte

For Kingapore, Aden, Djibouti, Massawa, 1'.

lea[k, str P said. Alexandria, Beirut, Balakla

and Pirarum,

FOR EUROPE

PAKITA STARU"

Mar

For Singapore, Port Bald, Glenun, Marseiller, Tangler,

Casablanca, Lundub, Antwerp, Ruiterdam

and

Maniburg

Lloyd Triestino

To Singapore, Colombo, Bombay, Karachi,

Aden, Port Said, Naples & Canoa

m.v. "ASIA

in, v. "VICTORIA"

HONGKONG

Arrives B 29th Feb, 27th Feb. 20th Mar. 20th Mar.

Accepting Cargo on through Bill Mediterranean and Adriatic Parts, als

West Atlas Porta.

Arriver

NAPLES GENDA

Arrives na par 24th Mar 21st Apr. 23rd Apr.

of Lading to

PASSENGER DEPT.

Fast, Youth and

13 CHATER RD. TEL. 21113 FREIGHT DEPT.

3RD. FLOOR HONGKONG & SHANGHAI BANK BLDG. DES VORUX RD. TELEPHONE 28021/G

THE CHINA MAIL, TUESDAY, FEBRUARY 14, 1956.

TRADE AND COMMERCE SECTION

The Sterling Area Has

Decided Advantages

From Ronald Boxall

:

London, Feb. 20. Satisfaction rather than relief is the proper reaction to the decision that Malaya will remain in the sterling area after attainment of self-government next

year.

Important to the colonise. But the sterling area system. But the the advantage of belonging to fact is that both ́ides, would the select group of comtries suffer if these eplonies severed having sterling as their common their link with other starling currency does not end there. [countcles. Once this fapt 'Is The answer to those who co-clearly understood the question cuse Britoin of "mliking her who gets the most out of what?" colonies" was given at some becomes irrelevant. - Lendon length by Dr Ida Greaves in her Express Service. book "Colonial Monetary Condi

tions,"

"When we look at the present

S of the colonial terri, |

she wrote, "we see that:

they are an integral part of the world's largest monetary area, the storing area, that their own currencies

aro normally stable relation to sterling,

and that ther

have no balance of payments problems in the usual sense of the term.

T

"If a colony is unable to meet

external obligations it la be-

London Stocks Take Pounding

By C. T. Hallinan

'

Page

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Ditwarde

"CANTON" "CARTHAGE" "CHUSAN"

"CORFT"

Leaves London

Balled

Das Hongkong

Bih March

29th February

2nd April

13th April

30th April

J9th March

STU March

Via Southampton, Port Bald, Adan, Bombay, Colombo, Penang # Singapore

Graves Dongkong Duo London

6th March

Nomewards

"CANTON"

"CARTHAGE"

0th Apell

**CHIUSAN” -

20th Apri

4th May

Ath April

7121 May

27th May

4th June

"CORFU"

Hingapora, Penang, Colombo, Kombay. Aaaa,

Port Bad & Londen

* Alio Calls Bfaszéllios.

Via

fairly last

London, Feb. 13. Markets took cause of the lack of money → of serious pounding income in internal currency -

exchange. As long as the money Is available, it can be transferred to London without any difficulty

and converted into foreign cur- prevailing regulations permit.,

reacles and on whatever terms

When it is considered that the coloniest because of lack of foreign produce something like twice as much gold and dollars as the rest of the sterling countries put together and that Malaya is the biggest dollar earner of them all, the importance of Malaya's membership of the sterling area is self-evident.

11 the Malayan politicians

ils

old of self-government to ink

future with that of

Thi Sterling area. Nigeria and the Gold Coust-who, like Malays, urc large

net

contributors

who aftendest the Lasidon con- ference and took part in the "full anut tank discussions of the colony's position in the sterling area and not decide to remain into the central dollar reserves... A own of İnyalty alone

Common Knowledge

They agreed that their con- Hinued membership was to "The advantage

The Federation wil other sterling

liow

thu! advantageous membership is to the remainder of the sterling area is already a matier of common knowledge Malaya preduces about one-third of the world's natural rubber

the and the two commodi- tles are among the serling area's biggest dollar virner's Be- tween then they tarned $175 million an 1954 and this figure is believed to have been raised to $225 milion last year

areq's

have also Gerided ky remain within the sterling area when they gain their independence.

What is it tint makes these counlijes want to continue their

assordabi with the sterling Jyea When they are given a fre choire?

Why do they not klep the dollars they earn stud :I seling

them to the Exchange Equalisation and

Pow

Other Advantages.

"Colonics also have internal interest rates distinctly lower than those of dependent coun- Davey with compa: bie types of economy, and they can bor- 201 London on terms 18 Favourable S thuse of Her Majesty's

Goverrunent, which are heter than those enjoyed by foreign cou

countries when they use ine London capital market. In shorl

might be said that the colonies have monetary stability without the necessity

main- ol taining financial solvency,

"And as a concomitant of the

week.

Apparently the fear was that the Chancellor of the Exche-

to unable

find much quer,

evidence that the measures thus

checking far lakes effectively the country's inflationary prices. would do something drastic, like rate suddenly lifting the banis up from its present 41⁄2 per cent lo 6 per cent or even 0% per cent.

Those who had borrowed money from their bunk would And themselves paying Interest at the rate of, say, 8 per cent. Those alarmed

poss- at this billy began last week reling their gilt-edged stocks or their high-grade industrials in order to raise cash and pay off their Indebtedness.

Shocking

The selling of British govern- ment stucks was fairly shocking. War Loan fcil 3s Pd, the way in which their monetary lowest it has ever been. Old relations with the United King-Console-known for u century dom have developed, they are in-

us "the safest Investment in the rieved

of a treed of u wysten world"-tumbled 278 ad to 5 British

of Internal

adequate sterling. taxation

ol the any Hardly Fund

for maintaining the exchange getting sterling

medium or

long-dated, tasuta Istances

return? Why It value of their currency, on lines lost less than 20 shillings.

to the taxation in corresponding to they are a large nel carnes of collars

the United Kingdom which sup- they conlinuc Lestrict

ports the value from Importa

of sterling by

bluc chip Among the restricting Anserica so that ther sterling countries

consumption.

dustrials there was visible Dr Greaves net

similar urgent desire to get hold spenders of dollars?

vantages that the colonies en-of ready cash.

والی

their

Can

remaln

Present Position

10

One answer to these questions is that dollars are not everything despite the Importance attached The value of Malaya's contri-

to them in all discussions on bution

to the sterling

world trude. In 1064 (the lost dollar pool cannot be under.. year for which figures are avail- Deable) the colonies opent 81 because of this million on Imports from the that its membership of the

the United States and £25 million one-sided bar- from Canada, But their importa

rated. But

assumed that

tering are

should not

pre

Rain. There are distinct ad from the rest of the sterling vantages in Malaya's side boo; arre mounted to £500 million advantages which will not auto-and those from Western Europe, Jatically disappear

the wich when

also paid for colony becomes self-governing | sterling, were worth £171 mi)- and may indeed Increase.

Joni. Nor jk Malayn the only colony There is no doubt which of which has decided on the threshthe two currencies is the most

lists other ad-

Joy through their membership

"HURAT**

FREIGHT SERVICE

Swetten- iends 27th Feb. for Spore, P.

bam, Penang. Aden. Port Bold Genoa, London. Hamburg, Rot- Terdash & Antwerp

"SHILLONG" dne 01 Mar. sil B Mar.

from UK? for Japan

With liberty to call at Delawan before or after Siralta Forse and at Dombay if inducement ofvir. Tanks available for carriage of Oil in Bulk. Bpace for refrigerated cargo, Limited Passenger accommodation

BRITISH INDIA S.N. CO., LTD.

T

1850 — A HUNDRED YEARS OF SERVICE - 1950

for Singapore Penang "ORMARA"

"SANGOLA“

the 15th Feb

walls 20th Feb.

Hangvon,

Chittagong

for Japan

Calcutta

P. & O./B. I. JOINT SERVICE

"ORNA"

"ORDIA"

in-

A

"ORDIA"

Apparently no bargain-hunt- ers appeared.

Shares Uke Rolls-Royce and of the sterling areas, advantage Associated Electrics lost 4 shill- "which no country should treat

It some lightly."

colonies should decide on attaining self- government to end their associa-

Ings over the week.--United Press.

tion with the sterling area in The Bank Of England

instability and spite of greater

corts this would higher

LD- volve, she adds "It should not

readily be too

assumed that such a sqvarEnco would be of detriment to the United King- dem.'

Too Ready

This too ready assumption is often noticeable in discussions on the part played by Malaya and West African colonies in

Statement

London, Feb. 19.

The Bank of England state- ment for the week ended Feb. 8, reads as follows:- Note in circulation Publie deposita

Private deponite Government securities Other secuestion Receipts Flatto

1.777363,634

13,130,782

304,970,820

237,371,90g 46.304220 10,304,900 11,0 United Press.

Ballings To:

THE

East Asiatic CO.LTD.

FROM EUROPE

m.s. "POONA" ma. "SUMBAWA"

.. "SAMOA"

נו

MESSAGERIES MARITIMES

P.O. Box 53 Queen's Building Tel: 25851

FAST PASSENGER/FREIGHT SERVICE

.Due at Hongkong

#

5

Co., Ltd

m.s. "FALSTTIA"

SLA Mar, 614 Mar. Bih Apr. 19th Apr.

Vessels

"LAŬS"

"

m.s. "KAMBODIA"

"VIETNAM”

Arrives Hongkong

tu.B. "JAVA"

21st May 24th

May

“ÇAMBODGE"

"LA08"

Loading

abt. 20th Feb, abt. 21 Mar.

"VIETNAM”

Arrivals from

Y'bama & Kubej Marsellen (1)

25 Feb,

Marseilles

In Port

14 Feb.

12 Mar

13 Mar.

24 Mar.

Apr.

10 Apr.

ei

Apr.

7

May

8 May

19 May

4

June

5 June

10 June

Swedish East Asia

ARRIVALS FROM EUROPE

Hallo

Bulle Gothenburg Rotterdam

m.v.

"MENIKO1"

W.V.

"JAPAN"

m.v.

"SUDAN"

01.V.

“MINIKOP

03.V.

"JAPAN

due 22nd Feb. amily 23rd Feb. due 21 Feb.

alls 20th Feb. salts 20th Mar.

from Bombay & Karachi for Japan

from Karachi & Bom- bay

for Japan

for Singapore, Colombo, BONWAY, Karachi, Bag- rah. Khorshahr Kuwalt

EASTERN & AUSTRALIAN S.S. CO., LTD.

"NELLORE" due 4th Mar 8th Mar.

Balla

from Japan for Sandakan, RADAUL, Brisbane, Sydney, Mal bourne de Adelaide

All vessels have liberty to call at any ports on dr off the route & tife route &'sailing are subject to change or amendment with or without notice.

For full particulars apply to:- MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.

STHMIAN

ISTHMIAN

FAM SHIP

FOR EUROPE

Deep tanks available for bulk oll

20th Des

(Satled)

-80th Jan.

141: Jan. (Sled) #th Feb

27th Feb.

29th Mar,

ma. "KINA"

m.. "BIENA"

(Salled)

SAILINGS TO EUROPE

Jails B.K.

29th

Feb. 3903 Mar. 29th Apr.

5. 5.

"PRODUCE”

The vessels carry up to 12 passengers in first class Outside double and single cabins with private baths. FOR JAPAN

Loading FOR BANGKOK

Loading

*. a. "PRODUCE”

Queen's Bldg., 2nd Floor.

(1) via Manfla. Saigon, Bingapore, Colombo, Ditbouil, Buez & Port Said.

Vessels

abt. 28th Feb,

"DONAI"

abi, 27th Mar,

"MEINAM"

Tel: 84111/4.

FAST FREIGHT SERVICE

Arrivals from

Europe

Sailings To

Kelang, PuELS

Europs

* Japan

STEAMER

"STEEL ARTISAN”

ARRIVALS FROM U.S.A.

Balls N.X. Sails 8.F.

Arrives HK.

(Salled)

"STEEL DESIGNER"

Ma

*STEEL TRAVELER”.

SAILINGS TO SAIGON BANGKOK & SINGAPORE

21 Jan. 15 Feb.

- 10 Feb. 20

Mar. Mar, 15 Apr.

Mar.

8 Apr.

May

Salla ILK.

8. Mar.

9... Apr.

8 May

"STEEL ARTISAN"

17 Feb.

"STEEL DESIGNER"

“STEEL TRAVELER”

24 Feb.

11 Mar.

24 Feb.

12 Mar.

18 Mar.

7 Apr.

ADEN, PORT SAID, GENOA, MARSKilles, caraBLANCA, ANTWERP, HOTTERDAM, AMSTERDAM, BREMEN, HAMBURG, COPENHAGEN,

OSLO & GOTHENBURG.

Deep Tanks Avaliable for Bulk Oil

GILMAN

Agents.

1885

N. Y. K.

SEVENTIETH

CO., LTD.

Tel: 81140.

1955

LINE

ANNIVERSARY

FROM CANADA ♣ USAthe

"FEIRO"

(1) via Saigon, Singapore, Port Bwettenham, Penang, Djibouti, Algiers, Oran, Tangier, Casablanca, Le Havre, Antwerp, Beiterdam, Hamburg & Dunkirk,

-KNUTSEN LINE:

100 TO MALATA & W. AUSTRALIA

FREMANTLE DIRECT

Art. Fremantle

ÖRENT SERVICE

FROM EUROPE

m.v. "AWATA MARU”

16th Feb.

Loads for Japan via Manila

-HK/NEAR EAST

WEST BOUND FORCES

"ELISABETH

BAKER" Salled

GJERTRUD BARK!"

"ANNA

BAKRE",

Bati VANC.

Sailed

Columbia River

Ball

Ball

HONGKONG

Art

I A

B. Y.

Art.

S'PORE

Arr P'SWET

AIT. PENANG

Balled

Balled

Salled

29 Feb.

1 Mar.

• Mar.

7 Mar.

✔ Mar.

18-Max.

17 Feb.

31 Mar:

-- Feb.

4 Apr.

28 Feb.

1 Mar.

7 Mar:

1.Apr.

2 Apr.

Q. ápr.

8 Apr.

9. Agr.'

10 Apr.

10 Apr

'Apr.

18 Apr. 13 May 14 May.

18 May

30 May

21 MAY

10 May

m.v. "ZUIYO MARU”*·

17th Feb.

FROM W. AUSTRALIA & MAL

For Singapore, Aden, Djibouti, Massawa, Port Sudan, Jeddah, Suez, Port Said, Alexandria, Belrut, Lattakin and Piraeus.

HONG KONG/PARSIAN GULF LINE

8.9. "BINGO MARU”,

For Singapore, Madras, Colombo, Karachi, Bahrein, Kuwait, Basrah, Khorramshahr,, Abadan and' Saurashtra District,

HONG KONG/BANGKOK LINE

“EISHO MARU”

* For-Salgon and, Bangkok,

21at. Feb.

FAIT BOUND

"ANNA-

'ELISABETH

29th Feb.

Tel: 26021/8:

DODWELL CO. LTD

Shipping Dept.

Fremantle

STORE

понскома

-13 Feb;'

30 Mar

25 Tub. 16 Teb. 27 Tib.

[K]

TO CANADA & USA VANCOUVER DIRECT

ATT.

Columbia

13. ADT.

24 Mar.

B: May

10 Apr. 11 Apr

MACKINNON MACKI

CO OF HK

Also accepting cargo for Halifax, Boston, New York

* & Ballimore, vla Bués Canal,

GILMAN CO., LTD.

Agents.

Tel. 81146

Chinese Freight Agents: HIN FAT & CO., LTD. Tel. 28488 & 28828.

BARBER-WILHELMSEN LINE

FORTNIGHTLY EXPRESS SERVICE

M.V.!!!

"TUNGUS”' 18th FEB.

New York, Baltimore, Boston

and Philadelphia,

San Francisco, Los Angeles and Panama

Calls BALTIMORE Diret

Transhipment. cargo accepted for Bouth America Caribbean and West Indies Ports,

DODWELL & CO. LTD.

Agents: Tel. 28021/6 Passenger Dopt. 218 Chater Road

Tuis