THE CHINA MAIL, TUESDAY, JUNE 15, 1954.
This in a new picture of the experimental Short SB-5 which was developed by the manufacturers for research into the swepl-winged configuration for new Hghter aircrafi.-
Short Bros Photo.
The Latest Round-Up of Aviation News From Britain
The World's
Airlines
Buy British
Turbo-props And Jets
This week's round-up of aviation news from Britain tells you of the big part being played by British turbo-props and jets in the new pattern of world air transport. More than 20 airline operators in different parts of the world have ordered turbine-powered planes - either Viscount, Britannias or Comets. Another Interesting Hens in this week's round-up felis you why aircraft manufacturing companies now want certain aircraft party to be made us HEAVY as possible! The round-up, a weekly China Mail feature, comes to you by airmail Ltd. 1 bs from the Loudon brudqaacters of the Society of Britsch Aircraft Constructors compiled by team of experts in close touch with the Aviaison Industry and is written in such a way as to make each Hem easily digestible by the layman as well as the professional
BIAN
For over
The latest orders for the little surprise on this shle of the, Mextent in French version of the
Allunt.
British Vickers Vroum turbo-prop
Vampire bulle under year now the ! Beener) the f
Ouragan and the airlar brang the number of Viscount has been in regular | emily prototype Mysteres. UVET SCART operators
who
i service throughout the continent
spano Suiza Aur-jot Europe not only with
1
TRADE
American Economic Scene
and
A Bullish Week But For The
Stock Market Slump
New York, June 13,
an
The sharpest stock market slump in nearly four years-one which sliced about $3,000,000,000 from market values last Tuesday-marred otherwise bullish week in the United States.
Almost three-quarters of all issues traded lost ground for the day in what market experts described as a "technical correction" after almost nine months of rising prices.
The price break was not altogether unexpected, although the size of the correction created
some mild surprise.
me
Other markets continued America, representing about 1/0 to show relative strength in of the US petroleum products, the face of the stock sell-
hopes to reduce oll imports. Voluntary reductions on off, all of which, experts part of
companies have said, reflected an underlying failed to bring the supply plc- market confidence.
into adjustment. It was The ture
clalmed. volume for the day was less
Meanwhile, the As sociation sold that petroleum than one-quarter of one per demand, domestic and export, cent of the shares listed, i for the calendar year, 1954, which. to some observers, was now estimated to average 8,236,000 barrels a day, a 2.5 proved that the traditional "big" investors aren't being | stampeded into selling their i
holdings.
to
cent Increase
actual demand in 1953.
over the
CAR STOCKS GROWING
On the bullish side this week. The auto industry continued were a number of favourable to pour new cars foto dealers' developments. President Eisen-stocks, now at a record level of hower's chief economic adviser, 678,000 units, or 68 per cent Mc Arthur F. Burns, although glove the comparable
1953 against aver» | Invej. There have been some cautioning
there were suf- production cutbacks but many pimus, feit fejent indications pointing look for further price cuts to *** early upturn in business ec- help move the 1954 models be- avily Ikiye
fore the now 1955 models hit the the developed the Rolls-Royce Tay
Elsewhere this week, in brief: market in the fall, licence.
French The
Personal income, running at named the Verdon after
д boum
rate of about $282 billion, is expected
to hold at slightly lower levels; meanwhile,
show no disposition at
sensonal to cut down on their hobits.
have undered British bine powered transports to British European Airways who under
more than twenty.
Twelve
uperators nine
have ordered Viscounts, forelih silines have Comets on order, and the Britannia, which! has not yet me into service, is already on order for Qanlus, und more orders are expected for the
future.
Altogether some 200 British Jet and truba - propi - powered transpos have 1141 been orde al finebading those already built) and over 100 of them are for export. The value of these
also
Introduced it in April, 1953 but verslo river, now gives 7,000
Acr
R
$150
Air France and with Lingus--the Trish airline,
The Best b. thrust.
French "IL that time it has come to aircraft to exered the speed of be regarded as one of the most sound was powered by a Tay.
ever used on rellable aircraft
The Verdon now powers several passenger services with an prototype French aircraft and
standard of com- some marks of Mysere, unsurpassed
About 180.000 passengers fort.
For the future, Hispano Suiza been carried in is now tooling up to make the have already Viscounts by British European Rolls-Royce Avon under licence Airways alone."
This will power the latest and Jaster French-designed single seat Aghter the Mystere 4B.
France is one of five different
Al-
☆
In aircraft construction, where Countries buliding Rolls-Royce export orders is about #33 the emphasis is always on light-fel engines under techce.
allon without spaɛES,
being built by Canuda under licence for military use in a contract reported to be valued at £60 million allogether.
ness, is somewhat surprising to find that increased
to be
consumers
US oll Interests are preparing to ask Congress for a reduction In Imports of foreign oil from the present rute ol about 1,000,000 barrels
800,000
'to about barrels. By
01 Lise
Fatimates placed the expected carry-over of US wheat at the stort of the new crop year, July
record 875 million busheis. This would be sufficient for expected US exports and domestic needs next year even if not single bushel WETC grown, according
to the Wall Street Journal. The US has not been able to sell more than half of its export quotas. US wheat exports are down 40 per cent, of according to the Wall Street Journel, with world wheat trade down about 15 per cent.
West Germany, India and Sweden
among countries which have already given notice of their
inability
flexible tariffs, the independent
Petroleum
Association
together nines countries Singapore Rubber are
use is are
some
making Britian engines In unelition, the Britannia is being made of small quantitica
under cence, Fourteen dif- ferent British engines Bre of a metal which is specifically ifcensed for production overseas Intended
as heavy as and, except for two, these are possible.
all jets or turbo-props, This ន
case, however. where แ heavy metal can, paradoxically, achieve lightness ira the long runt, because Jt enables designers to concentrate weight in small space; it a
were used, it yea y
Turbine Network
Those operators of British turbbie-powered transport Byghter material
Expect sales during the lost United of n
Kingdom atr-sen
in
routes which extend right across might in turn call for a larger firm specialising the free world. Apart from the structure-d hence more rescue equipment was abou!
wirlines, with BOAC weight.
two-thirds of total production. Heavy Alloy for Thus WHA announced
the Common-
A specia
Market
the Importing
Den- and
to
COMMERCE SECTION
Mr Nehru's International Talks
Gift Of Gold
New Delhi, June 14, The Indian Primo Minis- ter, Mr Nehru, hom given * Pillar of solid gold studded with itamonds as 14 contribution towards paying off the National Debt.
go
The pillar, replies of the national emblem, was pre- mented to hip flye years by the citizens of Bombay
Mr Nebru said he did
because ba has family Jewellery of his own to offer.-Cblna Mail special
10
On Wool
Begin In
Brussels
Brussels, June 14.
Delegates from 17 wool-producing and con- suming countries were gathering in Brussels to- day for the 23rd annual conference of the Inter- national Wool Textile. Organisation.
First to meet today were the Technical and Agreements Committees, both of which are pre- paring reports to be submitted to the two-day plenary session opening on Thursday.
Highlight of the plenary session will be the contro-
HONGKONG versial question of state NEW YORK
STOCK EXCHANGE
(From Our Correspondent)
Business un
the Stuck Ex-
subsidies, high tariff bar- trado riers, dumping and
| discrimination with which certain nations are accused, including France und Uruguay.
The 25-point agenda
of the
plenury meting Includes
pecuilarities of wool products,
STOCK
MARKET
New York, June 14.
marking of sheep and presence Stocks moved irregularly change this morning amounted of tor in wool products, vegeta in light trading today with $400,442,40, Noon quotable bres in wool, setting up the session's highlights pro- tons and the morning's deal of a manufacturers' commitee vided by FORH
24 few special and wool labelling. SHADES BUYERS BELLERS SALES
issues and a 30-minute in- BANKS
HI Bank 7024 ENSURANCES
Union
20715 845 Underwriters 0.00 0.63
SHIPPING
Waterbout
DOCKA, ETC.
K. Whart Provident (Old)
Slin Duck Wherek LAND. ETC.
4K Hatel TK Lond Sa and Humphreya UTILITIES
Train
Star Ferry
50
21631
040
1011⁄2 10 g
181
43
3,70
0.70
8.10 0.20 1000 * 8.20 5-1 35 200 6 04 1.30 17.10 17.60
24.70
12 1300 11.30 12
13:00 2416
2000 24.20
110
1000 45 24.70 300 2.70 500 24.00 200 @ 24.90
C. Light (0) 1420 14.30 300 14.10 400 14.20 1000 14.30 2000 14.20 1000 14.30
The British Secretary of the terruption in trading for an organisation will present the air-raid test. report drawn up by the organi- The market
Committee usual time
sulion's Executive
the operied al and in the two
on measures to deal with the minutes before air-raid sirens question of Uruguayan wool blared, about 320 issues were tops which, it is claimed, are traded, totalling nearly 110,000 subsidised.
shures, with
littlo prices churged.
At the reopening at 10.32, the
DENIES DUMPING
Mr Hector Gaanent, Uruguay's list was Irin but, when de- Manster of Industry and Com- mund failed to develop, it merce, dented over the week-slipped Into routine irregularity. end that Jis country
The re-
volume of 1,420,000 sorted to dumping wet lups on shares compared with 1,830,000 the world market.
on Friday.
New York Central featured the active loader as Mr Robert A. Young took over con- troi of the Road and named as new President, Mr Alfred E. Perlman, former executive Vice President of Denver and Grande Western.
The Minister, who said he Traveled to Brussels in order to dissipate the rumour of Uragua
2000 14.20 and
yan dumping, added that his country's wool cost price was 60 per cent of its selling price nol 15 per cent, 05 722 11.20 rumoured, If relevant taxes Electric
20.10 2014 300+ 28 were taken into account. C. light (N) 11.20 Telopone ... 30 500 ĐỘ TH40 INDUSTRIALS
Comenta
STORES, ETC.
Dairy Worlaars
17.30
500 # 17.40
3,200 18.30
03
Rio
OILS EASIER The Belgian delegation to the Central, up a point in active conference prepared a report trading on Friday on unofacial 23 23.20 200 6 23.20 suggesting that a special com- words of the Young proxy vic- mittee should be set up to deal tory, opened at $23 %. Demand with abolition of trade barriers continued and eventually, on a and dumping.
80,000 shares, I turnover of closed at $23, off.
few other rails featured mostly on the down-side and
10.30
6.53 6.03
COTIONS Textiles MISCELLANEQUE
Yan teza Youmati A15
130 140
3.70 34 1000
भ
TOPS
The Danish delegation will also warn that should protee tive barriers be maintained by the
countries, Denmark, on wool
certain
whose customs dulles
lower.
group averaged 45 cents
Rayonier rose a point to $35 are the lowest in Europe, will and Celanese to $20% in the have to set up her own protec- textiles.
tion against dumping.
Countries
to buy their quotas. Some have failed to buy Singapore. June 14.
a single bushel LONDON WOOL These include, Austria, The market opened very mark, Italy, Jordan steudy on trading covering und Sweden. the ory buy. Towards the close prices cused
were indications this
London, Jung 14. some proft-taking and Federa-week that the long-awaited in- Wool topa futures market Belgium, tion selling. Prices:
adjustment might be closed steady with a turnover of Sweden, No. 1 rubber per 1 June 084-003 making substantial
progress. 43 loks, July 64-601 The Commerce Department said Aug 65-6 that during
attle
on
the
No. 2 ubber per Nu. 3 No. 4 Spat rubber unbaled Blanket erepe
JUE -654
British operating across wealth and to the Americas, and aircraft is in fact in production annual cenoru! meeting of the BEA flying to Europe, there are
in London the General Electric Com-R. F. D. Company
ورا
plans for a network of turbine pony. Its most common use is
is recently. for mass-balatices for control In his statement the Chair.
routes in every continent.
the
In Europe there is Air France, surfaces-allorens, and elevatora.man, Mr N. J. Hulbert said that Uniun Aeromaritime do Tran Now it is being used for other this expert achievement was an
Lingus sports, Aer
and Fred small but Important parts of appreciable increase on Olsen of Norway; in Africa, airerafi too wheel brakes, provious year, Products
Bold Central African Airways; in the instruments, and even aircraft abroad included alr-sea rescue Middle East, Misrair and Iraq cameras.
༥་
Heavy Sheet Soon
items
Uso
small
dinghies, life-jackets, gunnery Air Lincst then Alt India,
training equipment, parachute Qantas, Trans Australian Air-
training balloons, targels, etc. lines and Jupan Air Lines.
He added that preliminary triols Finally, In the Americas are
carried oul were successfully Pan American, Capital, Trans-
with a unique type of equip Conada Air Lines, Canadian These
Brtish West machined parts of Heavy Alloy.ment designed for firefighting in
harbours. docks and Airlines,
have L. A. V. In For the future, G.BC.
More
400
cowling than Venezuela and Fantir do Bras. under development
high-
fasteners for use in Australian- Two
Governments density alloy
will be use also ordered British tur- manufactured in sheet form-built aircraft will be sent over- bine-powered girliners for though the site of shoot avail- ECs shortly by a Scottish firm. The actual value of this order general transport and V.I.Pablo will be very limited.
is not great but it is an example work-the
of the enterprise of a firm which
Pacific Airlines, Indian
have
overaces
Indian Government
The
which
manufacturing
*
process
and the Canadian Government required 10 produce Heavy in the last few years has built
Th
tungsten
One British Independent Alloy is a curious сде
up a world-wide connection in operator Hunting will also main constituent is probably be using Viscounts on in powder form. This is mixed the manufacture of small com- overseas routes.
with nickel and other powders. ponents for aircraft. The powdered mixture is placed
No Difficulties
in a die and compressed to shapo. It is put in an electric furnace
4 hydrogen at In mosphere. at a whito-heat fern- Britain's Viscount turbo-prop perature of about 1460 deg. C airliners are not likely to run While in the furnace it shrinks into any particular
difficulties by about one-fifth.
Over 30 Items
1
Their range includes over 30
proprietary items developed by tho frm's designer-flexible pipe couplings, oll and petrol over obtaining their cortificates
The alloy can then be given niters, cowling type fasten:ro. of air-worthiness which will permit them to operate in the any of the ustal plated finishes, valvon, etc.
Heavy Alloy is used for the United States.
This view was expressed by "heart" of the Maxaret wheel-
Mr F, B. Lec, the United States brake an ingenious new brake now building in Britain where
Civil Aeronsúlles Administrator at a
fitted to the
¡quickly and
Intest
Thero is only one aircraft
aircraft the Arm's components are not standard at least 48 types are Wish/nrion recently,
conference held in which pulls an aircraft up very covered.
At the Farnborough yet cannot zkid, I cov Heavy of the brake, and for this ever parts
every machine. Mr Lee had just returned whevy Alloy is used for the fly-Air Show in England last year, from a visit to England where job is machined to tolerance be and other officials of the of three-thousandths of an inch.
the addition CAA had made a number of flight tests craft.
д
It is also a vital purt of one standard on at least 15 types of
No. 1 le crepe
Thoro
ventory
5-6 decline 9121853
Closing pricus were:
July
184-150 13ia jaz 144-160
140-1403%
1441-145
Dee.
April businesmen 4-04 slashed their inventories by Sept. 83-04 Just
under $700 million.
This exceeded អ normal Jan. 703-775 scesonal drop by almost $500 Mar. May million. Already there are some
July reports that businessmen aro Sept. Increasing their order placements Del. In some lines, after months of
Unked Press,
NEW YORK MARKET
New York, June 14. Rubber futures closed today | "as-needed" buying.
5 to 15 points higher with cules of 58 contracts.
Realising
was
Dec.
1432-1433 1414-14115
140-1404
130-1301
138-1301
137-2971
-United Press.
A few oils were ensiri_Mid-
are Continent, off 3% to $841⁄2 on
Britain, France, Italy, Holland, Profit-taking after Friday's 7% point gain; Seaboard, Kern
represented
Denmark, Finland,
Norway,
Austria,
Portugal, Switzerland
Argentina, Japani, West Germany and Uruguay.Router.
CHICAGO GRAIN
MARKET
Chicago, June 14. Grain futures showed mixed trends on the Board of Trade today.
Wheat prices fell, mainly br
of pocr demand by exporters and flour mill buyers. Another depressing factor was
NEW YORK TOPS The steel production boost of
New York, June 14. and hedge selling almost three points this week
understood stopped a smart early advance.
Wool tops closed today stendy, to reflect in Spot business remained
business condi- unchanged to 11 points lower. cause on part Improved the dull side. Shipment offer- tions generally along with a Future closings were:
203.0 blá 204.5 asked ings were reported In small whittled-down inventory stun-y Ocl. tion. According to Iron Age Dec. supply and on the high side,
Spot No. 1
RES
were quoted magazine, demand is stronger Jan. al 234
structurals, tin- cents a Pound, for of goods. nominally for
and galvanised September dell plate,
sheets. May very at Gulf ports at 23% cents Not so strong but improving for July a pound, delivered basis. Future standard pipe and wire products. closings were:
Sepi,
Dee.
Mar.
May July
23.75
Business spending for new 24.00-03 plant and equipment continued
21.20 24,40 24.43
United Press. LONDON MARKET
London, June 14. The rubber market was steady with No. 1 Rss quoted at 19% pence per Ib. Prices: No. 1 as spot. 101-109% Settlement house term:
July
August..
September
October/December
January/March ......
April/June
General marketa, cif basin ports:
June
July
Augurt Estate crepe, thin
New York Viscount air of the newest gyro-horizons and American-butt arrat, though
Amsterdam other important aircraft instru-these components are manufac
Little over a week ago, the ments. Capital Airlinos,
major
American airilne operating on |,high-donaity traffic soutos of the
eastern,
southern and mid-
western American slates
*
A French
10 7/16-108% ip-10 13/14
to operate as a strong bulwark | for business activity generally. Such expenditure for 1954 will total less than 4-1/2 per cent under last year's levels, accord- ing to Government estimates.—— United Press.
New York Sugar Market
New York, June 14, ́ World No, sugar futures closed today unchanged to 3 points lower with sales of 25 contracts,
204.8 nom.
County and Texas Gulf each off.
u paint.
of 1,114 issues traded, 448 were lower, 410 Higher, 250 unchanged.
The NY Stock Exchange bond volume was $2,720,000,
The American Stock Exchange | volume was 440,000'shares, “
Dow Jones closing averages
were:
30 industrial 20 quis
$5 des
65 stocka
40 bende
Coinm. future price index » -
-Unified Prem
the news that Western Germany New York Cotton and Japan are scheduled to buy
a combined total of more than 34.0 asked live million bushels of wheat in
208.0 200.4
"
+
Mar Mar
(old) 204.0
203.4 bi 2016
2010 204.8
no offer
2010
*
2007
"
201.0
Oct.
108.0
190.0
Spot
203.0 no.
United Press.
LONDON METAL
MARKET
London, June 14.
ubout
Market
the Canadian market within the
New York, June 14, next week. Brazil is reported Cotton futures trading today to be in the world market for fattened out altor
an opening *** a million bushels
of spurt of activity. wheat this week, but traders Initial prices sagged as much expect only a moderate quantity 45 cents
A$
a bale, thos to be supplied by the United fluctuated narrowly on small
States.
orders.
the list ruled up At the close
off 14 points, Opening.
July soybean futures were 1 to
The tin market was steady. Set up today on short covering prices were off 1 to 5 points. Spot rose 4 to £7254 and brought on by the Ught old New Orleans closed up i to off
free-month was down 4 to crop supply position and trade 11 points. £7254.
Turnover was 50.ons of which 25 tons were for cash. Closing prices in sterling per long ton were:
Epot buyers
expectations of export sales to Formion and Israel this week. Month Other soybean contracts tick July firm to strong.
..
Open
Volume interest
sedler
720 725
Wheat clorod off % to 14 soybeans up 1% jo 10 conts— United Press,
October December March May July
21,000 21,000
361,300
pollera
72534
United Press.
October
Total
CHICAGO PRICES
*NEW YORK MÄRKET:
Now York, June 14,
Chicago, June 14. Closing pris per bushel in centr
3-month buyers
Domestic No. O sugar futures closed unchanged to 2 points Prices of metal futures closed higher with sales of 194 con today in US cents per lb. as wheat, No. 2, rod
follows:
168,800
-United Press,
„NEW YORK PRICES
New York, June 14, Prices of cotton futuros closed/- today as follow
za buyer United Prent.
carried
In
components are
London Foreign Exchange
tracts.
Both contracts ruled, quiet, 10- Lead Jurie
flecting is lack of fresh develop-
July
Тать
London, June 16
ments in the mis market,
Fulure closinga
July
93.23 bid
13.79 bid
Spet 23.15 traded July 10675 (11)", (2012) 03.25 big Sept.
Dec.
Zino
JUTO
30.00622
MAY Euly
Mar.
Contract No. 4 (world)
July
10.44 bid
July
Copper June
29.60 bid
July
39.83 Vi
Corp, No. 3, yellow
**Unilgd, Prang,
Spot
167
July
Rept. Dec. Mar.
Sorbenne, No. 1, yellow
Bept Nov,
May June
Fork: Hour,
fured under leones from the Scottish Arm.
Mantren 2tomburg Brusel Copenhagen afreraft bulldors Use tho
components "ap. Blockholm standard, as do firms in Sweden, | Zuren 20.
1 Holland and Switzerland, Bup nounced the purchase of
of tarpo
perp-enging compiles hayo also been sent lo Viscounts with option (on a pany, Hispano Suize has just many other “countries, includ.
built-its dousandil British flet in teypt and Pask
further $7.
**One. London, aviation porres- | nokļjs ilinder, Ilconco-a Bola- le the demand that iijja, factory.
pondentske rolaktik penon
- from the United States has been saepurnging though it like cutsed
Bazz Hanna
Prithe only one got ill-type--in The Netto poworn three im» | Scolland-da just completing the periänt.... Trench: airgraft --- The doubling of lis factory, space.
NEW YOR
-(cents per 1b, 196, C02
LONDON SILVER *** CARE PRICES ARE
Landou, Jeno 14. "prics of diyor" "Was inladd 1% panos Pér fios ounce to%72%
da pence, for, ngot rid 12- Benow, to
7344 pencet for forward pošly New
·Stone,i=United Prear.
finited Press. LIVERPOOL MARKET
Liverpool Immo114.. Cotton, futures) in: ponest: per lb., and based on American østəy for), middling, (15/18 inch, gelased. today; na followsymp
Dey/Jan.