1959-04-14 — Page 9

ANSPORTATION

Home Ship Expansion Second To Export In Japan

THE Japanese Government has decided that the national interest lies more in encouraging the export of shipping than it does in expanding Japan's domestic shipping lines,

War

177-

This atillude has been eleorly | chipping lines to prevent

the expressed In the decision to sale of top-grade cargo-liners to allow the sale of 12 fast cargo | Oje Philippines

Government liners to the Philippines under disguised that the the Philippines-Japan Repara-had itle choice but to approve the deal, stand publicly lens Agreement.

convicted of using reparations Japantee shipping lines were further Japan's commercial bliterly opposed

interests.

to the Rule. more

which they held up for

thon six months. The new | A CRISIS- Suspola, they fear, will be used

or

Ten sourets painted out that

to compete with Japanese-Dug ships on the For East-New York Japan did not accept the pro- | poder contracts, they would be et to ither West Germany, or

jun.

However, Japanese Govern-Holland. In addition, of course, ment officials have muce li clear rufusal

The orderi to accept that they are in favour of any- | under the reparations agreem thing which might help to linement would bring about a crisis In Philippines-Japanese rela- prove Japanese "economie ca- operation" with Southeast Asian ¦ tions. countries.

-- "The Japanese pre particularly sensitive to the charge that they are using reparations to gain a fouthold in the Southeast Asian Market.

The pressure brought to bear on the Government by Japanese

Jet Invasion

Of London

[ANY more jet airliners Airport this summer, British

¦

The opposition of Japanese, shipping concerns to the con- tracts was not, however, based so much on fear of direct com- petition as on the fuel thist the

ma being offered were from more favourable than anything which could be obtained by Japanese interests.

The tentative terms for the ships, which were agreed upont by three Mitsubishi

concerns

the

eight-year with

ane

the National Development Company of the Philippines isle last year, call for a down pay- ment of 15 per cent and payment of the remaining sum an annual Interest of 4 per cent. Overseas Airways Corpora- These terms meos that each tion expects to have about a ship would cost roughly dozon of its 19 Comet 4's by £25.000 less than a Japanese mid-Juno, and many more company would have to pay for it. The Japanese shipping com- Comet servicos are being panles fear that the freighters built up this year.

Boac's rivals on the Atlantic service, Pan Amorienn Airways. Ja through the summer lying two Boeing 707's a clay rachi way between London and New Yeric.

TU's

CARAVELLES

In May or June, Londen Airport will hear the thunder of the Russian TU104's as the Sovie! airline, Aeroflot, opens up the Moscow-London service in agreement with British Europeen

Airways.

French Caravelle bo dying

Jela will In and obl

e.

Lonci twice a day front early Jung Air France puka the new, fast cirliners ca services 16 Paris and Nice

Live

In July, mure Boeing 707's,

in the colours of Australia's Qantas Empire Airways,

be flying in from Sydney.

will

This service will bring Sydney and Londen withtri 38 hours of euch cher, by way of the

B Racillo accosta United States.

end over the Ailantie.

will be placed on the profitable Far East-New York run, which is now rigidly controlled by a shipping conference.

THE CHINA MAIL, TUESDAY, APRIL 14, 1959,

IRREGULAR TRADING HONGKONG

IN LONDON AT ACCOUNT ENDING

London, April 13.

The stock market moved irregularly in subdued

trading today,

STOCK EXCHANGE

Our Own Cazzapond at

Busine done on the Hong- kong Stock Exchange title Free State Development & Invest- | morning_amounted to approxi

mately $544,000. 10: ments 71.

Noon quota- tion and the morning's trans- actions:

Buyers had Uttle incentive

ending with the account Morrow,

Gill-edged securities, under the influence u! new Irauca, The foreign bond. mir- kot was quiet with Greek bonis down

dolinr Foreign some.

cart.

alocks were mixed.

Among the Industrials,

machine tool gineering shares Improved

crafts

wend

and other сп

bút steel eared. Motors and air- qulat. Textiles Armed in ight volume, Oll and rubber shtres moved erratically and Anished quietly irregular." Johannesburg buying rolled gold shares briefly bui market

was quiet neat the cloze.-U.P.1.

Closing Prices

the

Closing prices on the London Murkel were:

Gledard Bonds Brill Transport 3. 100/- €00-8/10,

Console 24-912. Consule 12-£16-5/16

Conversloh Loan 5. 1669-

Funding Loan 216. 1900/00- 2011/10

339%, 1029/2004-

1500/00--

Funding Block

2734.

Funding

401-3/10.

Saving

Loan

Saving, 1939/83-EM.

03 34.

П

190/75-270.

Irtered Uonk-47 Od. Jongkong - £45.

Southern Kini Con LA-211

Longkong Arts 1991

Petalind.

Tin-di G.

29.

Went

Union Corp-540 Tijd.

Driefontein

Khares BANICS

Duyara sere SAJAY

Goldmining-

HK Bank.

020

20 B1212

2248 4:56.

West Rand Cons-340.

13

Waterbost

231

Wherlock

Brille Borneo Petroleum Synol-

Britiuli Petroleum Co., Ltel,-B20, Burmab-dim od.

Royal Dutch Petroleum-430-3/10. Shell Transport & Trading=1504 Bd.

New York

Cotton Market

القاسم

INSURANCES

Unloa... SIPPING" Lombard

DOCKS, ETC.

Book 3014 Provideni,

120 47

300

0.00

30 200

3072

(0) .... 21.40 11.30

Talkoo.....

LAND, ETC. HK Jctel

33 331

400 hr