OUR WEEKLY AVIATION NEWS
the elongated nose The Armstrong Whliworth NF-11 night fighter in fight showing containing radar equipment, the frontal fuel tank under the fuselage, one of the four 20 m/m cannons outboard of the engine and the Meteor B type tall unit.
Demonstration Of Civil Aircraft At Farnborough
This week we give a few more details of the new British supersonic Aghter, the P.I made by English Electric. The Under Secretary of State for Air has requested that the P.I reach the Royal Air Force as soon as possible and it is therefore probable that the plane will be in full production in near-record time.
British Company, are providing the answer to the DC-3 problem Aviation Traders. with their turboprop Accountant.
Royal Canadian Air Force and the A new type of polish has been adopted by the United States Air Force for use on the outside of their fighter planes.
munist terrorists as an observa- tion, communications and am- low,
is intended for operations
'Bush' territory. to akis
The English Electric PJ. Britain's first fully supersonic interceptor fighter, made its first flight from the Ministry of Supply Aeroplane and Armament Experimen- the SBAC who attend the Dis- tal Establishment, Bos- will
Pepe, flying for the first time] combe Down, on August 4.
On its first flight the Pi, was Commander flown by Wing Beamont, English Electric's chief test pilot. The flight of the Pl is significant in that it opens up a new era in British avia-
floats as required. The guests of
also see the Short operate
wing
This
the wing combines necessary sweep-back for high- excellent tight with spced control and stability character istics.
THE CHINA MAIL, TUESDAY, AUGUST 17, 1954,
in
TRADE
COMMERCE SECTIO
Experts State American Malaya Government
Recession Has Hit Bottom
By John Morka
New York, Aug. 16.
Many American business leaders and experts wore willing to say publicly this week that the mild recession of 1953-54 apparently had hit its bottom and that American business" should slowly improve for the rest of the year.
This, of course, is good news for the rest of the world, for an economically strong America is important to world stability, but it must be noted that the recession in America did not affect other nations. Noted one business magazine: "It disapproved the saying that if America sneezes, the rest of the world gets pneumonia.'
However, an economically-improving America will be a better market for imports, and thus the optimism in American circles will be welcomed by European, South American and Far Eastern businessmen.
"Following decline that, buying, and in mid-July the rartled industrial production steel Industry was operating at} down around ten per cant from 66 per cent of capacity. Out- the port war peak of last year put of steel in the first #ix and the economy is levelling
months totalled about 44 million off," reported the First National tone, nearly one-fourth less than Bank
of Boston in its New for the same period of 1953, England Letter on Business, "It
But construction work is at a f::
a scasonally
record high of 314 billion
i likely that, on
Edjurted basis, the low poin dollars in July, which in 5
per cent better than a year ago, and soon this will be reflected in steel orders.
can
out
a
Swedes Want Reserve Bank Requirements
Stockholm, Aug. 10. The Swedish Bank In. spectorate has asked the Government to Include stricter reservo require- ment in the bank tow which is at present being drafted. It proposes that they be raised from three per cent to four per cent oblica- of a bank's total Lions, and from 20 per cent to 25 per cent of its short- term obligations,
The Inspectorate stated in its report that as a re- muit of the Inflationary Irend deposits over 100,000 crowns, which represented 40 per cent of total bank deposits in 1949, had now rizen to 55 per
cent.
De- posits of over one million 20.8 represented crownin per cent at the end of 1949 and 40.2 per cent at the end of 1953--China Mail Special.
Sponsoring Cocoa Production
Kuala Lumpur, Aug, 16.
This rich rubber and tin peninsula is sceking to make cocon production a third major industry. The Government ía sponsoring experi- ments because it is concerned at the possible effect on the natural rubber industry of American synthetic rubber production.
A soil survey team will leave Kuala Lumpur soon with tents, equipment and four months' food supply to search for suitable sites for cocoa growing on Malaya's East coast.
Their research work will be done in the wilds of Trengganu, n state fringed by deep jungles on its west side and the Chinn Sea on the cost.
The survey team's task is to And granite derived soil and virgin forest land with not too much sun and hot loo much shade.
World Cotton Markets
New York, Aug. 10. Cotton futures today stagedia This latest survey is one mall smart recovery after a mixed part of a research pattern which start. started seven years ago. Its alm In spasmodically active Is to give Mainya a third major dealings, the list scored gains industry which in a few years up to around $1 a bale us a re- time may help to solve a world turn of hot and dry weather, cool tempera- country the badly needed income tures, revived fears of crop of over $200,000,000 (more than deterioration. £23,000,000) every year.
NEW YORK shortage of cocon and give the after a week of
STOCK
MARKET
New York, Aug. 16, Oll shares sparked a rise in stocks today which added another billion dollars to the
the recession has been passed."
We have had our recession in the past twelve months but we have hit bottom and started is see Jaylight
And the magazine Business agulti." said Paul
that steel the Week points Jamieson, president of the
increase even National Industrial Stores Asso-Operations clation, represchting 1,000 com- without any rise of orders. The
It explains, is this: 1) pany stores. that is, retall
suming Industries note stores owned by huge industrial concelos in smit cities in ducts and they order less steel: selling-off and lifted prices concorns in coal, steel, lumber drop in demand for their pro-recovery since last week's which the single factory or steel milla curtail oprations and
near their quarter-century MINERS RECOVER users use their inventories; 3) highs once again,
business "An uptuin in reach the industrial the coal communities in the last
year," few months of the
ht "The
re- miners havo said. covered from the initial hysteria of lay-offs and short weeks. They have
Industry is the basic factor.
of
should store's In
work- become
use
their backlogy; 2)-Steel
And so the industry is simply to maintain current output, steel mills get new orders and output rises.
ELSEWHERE
Bank
the
50
with the RAF
to carry two 14 h.p. in | enough service Mulaya, where it is performing cars In a freighter role. magnificent work against Com- The initial
of the
Industrials, with the big gains Accountant will be remarkably
in olls and in tending chemicals, It has been estimated at
steels, tires, and host of buiance aircraft. The Beaver £87,500, which is approximate-
special issues, were 2.97 higher in ly half the price of a foreign the Canadian
session and than the previous competitor. Where good landing
highest since Oct. 41, 1920. or and take-off characteristics are and is convertible
Elsewhere in the US economy: required, the Accountant will
Ralls rose bo cents on average The trend toward mergers of All the bill-It wil be able to
to lower accustomed
Income, important companies continued almost as blg a gain percent- from any aérodrome now used by DC-3s. The first have cleaned up on their bilik as. Bethlehem Steel Corporation age wise and were near their are ready and Youngstown Sheet & Tube highs since Oct. 4, 1930. Utilities in public with its acro-isoclinte production aircraft, it is hoped, and it looks like they to start buying again.
Company officials inspected each improved 2 ernts, setting now will be ready for delivery
The outlook is bright and it other's properties, and in New top since July 6, 1931. 1950
can be made brighter," said US York there were continuing talic
Volume continued heavy, with Like the DC-3, it will be a Secretary
Mir between officers of Commerce Sinclair Weeks, revealing that Exchange Bank and the Chemi- turnover for the day of 27,700,000 low-wing, twin-engined design. This layout has been
administration cal the Eisenhower chosen
Trust,
The shares, compared with 2,600,000 and
on Friday. partly because of the simplaca- wants to help business along
Youngstown Bethlehem-Yo
merger would tion of servicing which resulta. by mercasing both the letter of
- ba an obviously good It will be possible to lower the contracts and actual government mavo for both. It would open
the undercarriage under
in-
the July-September the Chicago area to Bethlehtm spending in of the An Indication
im-luence of Aravity
and drag
quarter.
and the castern area to Youngs- stood out the need arise, of helicopters is that alone, should
Lown, portonco
and the aircraft will have twin four types will be shown this
wheels
with
toe-operated your. From Bristol there will be The P. Is powered by wo
the
which
brakes, which are independently Sycamore IV, Sapphire Amstrong Slideley
both Austra piped being exported to An order jet engines.
for n
The
of economics lin and Belgium, and the 173, pre-production series of twenty
Arcountant hundred are being
will compare of which # aircraft has already been pinced
with the figures of for the British services. favourably
Calculating on the by the Ministry of Supply, and this will result in a significant The Sara Skeeter, of which two the DC-3.
will busts of 2.000 hours utilisation shown, will be marks
a year, stage length 020 nules, demonstrate one conception of
288 mph. speed the private owner's aircraft of and cruising
two-sont the minimum cost per sent mile the future light
Is given by the
company whitch can fly from 1.04d. Clearly this is a remark- helicopter.
of a business man's ably low figure for such an up- the lawn country house.
lo-date pircraft.
Back in 1050, British Euro- The only conventional in this year's civit show is the pean Airways used a certain Percival Pembroke communica- | polish to clean the interiors of tions aircraft,
The pollsh Is now in sorvico their aircraft.
tion.
The English Electric Bghter is the first British air- craft which has been designed to be fully supermonie in level
bull
Receleration of the test pro- gramme, by allowing various dem festa to be carried out simultano- ously.
When the Under Scereturý of State for Air nnnounced the Ere-production order 11 the he raid. House of Commony,
importan
It
that this aircraft should reach at the the Royal Air Force earliest possible date, and that the disappointment and delays that have hitherto boset should, so far as potalble, Avoided."
twin
the
ng
with the Belgian Air Forco. The made by a British company, Pembroke has been ordered in Valuy Industries Limited, which quantity by the Swedish Gov-will be exhibiting for the first bernment, as well as the RAF. ime at this year's SBAC Dis-
In the multi-engined class the play. BEA were sufficiently im smallest aircraft will be the pressed by the polish to docide DJI.
a foeder-liner | io try It on the exterior of 'an which is
and the result In demand aircraft, abrond.
Turkey has more than satisfactory. announced her intention purchase #ferens, and soon the British Joint Services Mission will be flying the first Heron
As the P is bull by the company which produced the Canberra jet bomber, it is not unduly optimistic to hope that
it will prove to be one of the world's most advanced aghters Canberra
to
was
In the USA. The de Havilland A member of the King's exhibits will be completed by Flight, as it was then called, that the the Comets 2 and 3, represent saw the BEA acroplane with its was the first foreigning the latest ideas in really highly polished exterior, and at once realised its importance to jet bomber ever to be adopted fast passenger transport. „ining / the royal Flight, which has to for the USAF, and that it still Tho turboprop,
with
speed,
HONGKONG
STOCK EXCHANGE
in
The
HOTELS BOUGHT
3
better
wered
wire of the crop 10.
At the close the list ruled T Lecal and overseas economists to 18. points higher. The market have frequently urged the opened off 3 to up 5 points. Malayin Government to And New Orleans closed up it to of new industries so that Malaya7 points, is not completely dependent on A Loreenat for widely scatter- rubber, which is threatened by ed showers in Texns tonight American synthetle production, and
Interests buying can be bought carous in face and tin, which from countries neurer Europe. Government
During the past seven years survey to be experimental cocon plots have morrow.
Forelyn necmints and domes- the east coast has the type of accredited buyers of the near- been planted in many parts of Malaya. It is now known that the milis interests were soll likely to yield the richest by months, absorbing scatter- crop, for cocoa will not grow cd hedge selling some of which in ground where rubber. irces
was credited to Mexican have grown and the west coast count, Commission is where Malaya's rubber in brokers and local interests werd
house dustry
is concentrated.--China | prominent buyers in the later Mail Special.
months,
Trading volume and
World Rubber
Markets
interests in the
open Exchange to
day were:
Month
Volume
Open interart
Oct.
240,000
294.100
Doc.
30,500
353,400
Mar.
12,000
450,000
Mxy
6,400
404.700
July
4,700
179,300
Oct
5.000
Dec.
4,000
25.100
Total
01.000
1,973,300 bales
NEW YORK PRICES
Singapore, Aug. 16. A bearish rubber
market persisted throughout the week
New York, Aug. and operators have been easily
Prices of cotton futures closed Influenced by any news which today as follows: could be construed as such, said Spot
33.20 the weekly report of Holiday Oct. .and
Company Cutler Bath Limited.
port says London was the only market buying regularly from that support Singapore and of
from elsewhere was very spas- modic.
Dee.. Mar.
May
The rubber brokering firm ro-
July
Oct.
14.01
Dee,
NEW ORLEANS PRICES
New Orleans, Aug. 16, Prices of cotton futures closed
today na follows:
At
Spot
Oct,
Dec.
Mar
Мау
July
Ocí.
Dec.
94,72
14.02
LIVERPOOL PRICES
Liverpool, Aug, 18. Prices of
futures. American middling, 15/16 inch, closed in pence per ib, as follows:
Oct/Nov.
cotton
31.00
Dec./Jum
31.03
Mar/Apr.
31.60
May/June
31.86
July/Aug.
31.78
Official prices for spot cottons
Sao Paulo. Aur it. Prices of cotton futures closed today in cruzeiros per kilo ng
23,80
26.40
20.00
26.10
STANDARDS RISE
Standard Oit Company (N.J.) as the day's most STEEL LEADERS
rising 3 spectacular feature, Steel seemed certain to ba
of a Petrol stocks
US points to $954 on talk
Alock among the leaders in the upturn dropped 1,504,000 barrels in the possible stock split or
although no matter what happens in the week ended Aug. 0 and stood at dividend,
company industry. Sicel operations slack- 150,808,000 barrels, it was re-officials denied
knowledge Pil:0 ened because of vacation shut- ported by the American
Any such news in the making. total downs and recent over-ordering jeum Institute. The
on Market commentaters ascribed
It says news from the United due in part 10 strike-hedge | hand Was somo 15 million the drength in oils largely to
barrels above the stock held in a firming price situation, re- States that existing strikes
there factaries flecting
might the same week a year ago.
Inventory rubber
spread also assisted in the 'gen- position.
from Aside
Jersey Cities erol recession.
A silght recovery In New York Hard on the heels of Conrad Service gained 3 points and
with contlaued support from Lon- points
in High-priced Hiltons acquisition of the Statler 34 Holel chain, the Sheraton Cor- Amerado, 2 points in the Texas con made for an improvement on Thursday but operators were poration of America bought the Pacific Land Trust,
sill hesitant and buying was Allied Chemical jumped more Blackstone swank 400-room
account of trade mainly on now than 3 points. now Hotel in Chicago, and
covering and some factory en Hilton Hotels and Sheraton both US Steel ran up paint and
quiry. hotels. However, Youngstown control 20
SINGAPORE MarkET Business done on the Hong-Hiltons chain, totals about 30,000 points to feature their group.
Bethlehem improved point. kong Stock Exchange
rooms and Sheraton 20,500. this
After opening steady on some Total shipments of rayon and morning amounted to $559,742. Noon quotations and the morn-
A 2-point rise in People's Gas covering eased on lack of sup- acciato
Alament yarn and staple ing's transactions:
domcatle producers in July helped lift the utility average. port. The markte: steadied in the afternoon on further cover- totalled 88,900,000 pounds, There was a a long list of in-
to Textile Organon, dividual features-Douglas, uping and sellers more reserved. statistical bulletin of the Texullo 114 in a steady alrerad roup: Future closings: Economics
Inc. Rayon Bureau,
Texas Gu
Gulf up 1 and Jefferson No. 1 rubber per 1b. Sept. 6521-00
Oct. 581-0015 shipments Lake, up 14 in the Suphurs. yarn Underwrlier 7.00 8.20 2000 o 1.904gh tenacity
this July were
Nov. unguoted follows: 20,900,000 White Sewing Machine, how-
No. 2 rubber per lb. Sept. 05/2-659) pounds,
15 per cent under June ever, declined on a lower earn-
No. 5 and 48 per cent below the higning statement. Robbin Mills, oft No.
the textiles was pot rubber unbaled ..... July 1953 shipments of 33,300,000 1% points in
Blanket crepe pounds. Producers stock at the one of the few wide losses. Out No. 3 pale rese
nd of July rose to 16,700,000 of 1,228 issues traded, only 339
were lower, 647 higher, pounds,
(From Our Correspondent)
SHARES BUYERS BELLERS SALES BANKS
BKC Dursic 1710 $720
零件
East Asia 20180
INSURANCES
Union .............. 900
K. Whart
1000
2
SHIPPING
Wata:bost
20.40
DOCKS, ETC.
72 w
400
21.00
12 2600
100 73
21.89
170 7.50 1000
500 e 13.50 2000 1.50
19
Dock
Provident
(010), Wheelock
LAND, ETC.
11 Hotel 10.00 10.10 3230,6 19,50 10.8G
JK Land
by
RAYON SHIPMENTS
of
Sheet and Tube 1%
Rails generally were higher.
1000 to 20 intermediate tenacity yarn last New York Sugar
600 60 month were 18.000.000 pounds,
Der
Humphrey 19236 19.40 500 je 19.30 Resily UTILITIES
3 per cent above June and 8 *** 2.10 2,10 2000 3.219 cent below. July 1953. Acelate
Tram
Star Ferry
Market
holds the World rocard in its
will
be set a standard of above-average class for the Allanile crossing. economy
between shown in the Vickers Viscount mariness. Accordingly in 1981. Its average speed
The the aircraft of the King's Flight and and the Bristol Britannia. Newfoundland, Gander,
Viscount
is breaking records began fying with a new gleam One of those Aldergrove, Northern Ireland,
speed and popularity on their wings. was 605,6 mph on its record for
planes visited the Royal Cana- wherever it is in service, while Breaking flight,
Luffenham, where the Canadians The design of the P.1, which the Britannia has already been dan Air Force station at North
ordered for Australia And
decided that they too is perhaps the most advanced Canada as
Quickly well
BOAC.
C. Light (of £8.00 16.10 2000 15.90 and 2 per cent under the month day of its kind in the Negotiations for the sale of wanted this type of polish. world, required the use of the Britannias are in progress with in 1952 Valby Industries began supplying the RCAF #quadrons most modern test equipament, other international operators.
for their in the UK with polish high-speed fighters. The faster an aircraft les the more Im- portant it is to reduce its strog
aircraft
This equipment was
end constructed by the company and included a transonic wind
tunnel, which was the first of
its kind to be built in England.
These test facilities played
☆
The question of replacements to a minimum, and a good finish for the DC-3s now in com- on ile external, surfaces plays use in large numbers an important part in reducing
drag.
Before long a fighter squadron
19.30 230 @ 39,710 yarn shipped in the most recent month amounted to 39,000,000 Yol Fury 151 300 142 pounds, 8 per cent under Juno
C. Light (N) 42.00 10.10
Кис 24
Telephone INDUSTRIALS
Cement
STORES, ETC.
Dairy Watson
largo part in the design of the mercial sircraft from its enrilest stages all over the world is becoming and will be of equal importance more and more urgent. Many of the USAF in England had in lie future development.
of the DC-3# now in service As last year, one of the are ten years old, and some of scene the Canadian fighters with TONS private days at the SBAC Die- these die yooman service. In their new polish and had de play will be devoted to the World War 2. The size of the cided to
The "use it: loo; demonstration of civil
aeromarket can be judged from American fighters soph" spread planes. There is a diverso list the fact that
of the doctrine of the new polish of types to be shown, ranging these alycraft
will operating to other American bases in Aigle runs well into four figures, Germany Trance and North Airlow and now all the USAT, peed Comet 3.se, British company, Aviation base inveure using 18
ta from the small Auster
Trainer to the
the number
006 19-2314
2005 Fri
F
634-6334
82}}+03 51-62 NEW YORK MARKET
Now York, Aug. 16. Rubber futures today closed
and
were all unchanged.
Oct. Dec. Mar.
May July
BAO PAULO PRICES
(In the United States. the average price of 15/16 middling". at 10 designated spot marketi was 34.08 cents a bâle. Sales at these centres totalled 30,002 boles.)United Press,
CHICAGO GRAIN PRICES
to 10 points lower with sales of 61 contracts.
Prices drifted Irregularly lower in quiet dealings in which dealers hedgo
seiting liquidating others redominated.
Tho
dull, spot market ruled reflecting the strike-bound con
of dition
two leading rubber. companies plus the lower Lon- What No. x, rea đơn cables and the anticipation
Spot
Chicago, Aur.. 10,
Cloning Prices
· Prices: per bushel in: centru
New York, Aug. 16. World No. 4' sugar futures to- closed unchanged to a ***** points higher with males of 153. of. July, 1953.
Contracts. shipments Acetate staple July
Domestic No, d sugar cutures this year were 6,100,000 pounds,
morrow, 273027 1400 87.60 16 per cent under June and 12 closed 2 points lower with sates of the Indonesian holiday to-Root, siách) 210%(L))"
Spot No. 1 Rue were quoted at way per cent below July of last year.
import of rayon staple during dealers, awaited developments in 22% cents, nominal, Prices: Juno, the Orgahon
tho raw market on the appear Sopt.
20.40 0.80
25.30
600 16.00 8:00
of 180 contracts, |--
Both markets ruled oulet as
amounted to 2,047,000 pounds once of some other, incentives.
61, Der
cent over An increase of
Future closingaz (sana the previous month, but 7. per contract, No. 4 (weeld) cent below the April Imports Sept.
of 8,159,000 pounds For the 90.
of 1954, rayon
moni
Holy tolalied. / 120f". Viny
per Corresponding period of 1953.
Exchange Rates 21-
parti we a
was done urohar han
(Thörning. Aty the followi
In the single-engined, fixod. Traders, has now given some The compang, setims the, that 80 bootar (sar 31) wing category (ie Pioneer and more details of its answer to per centical ite turarver at pre- Beaver in addition to the the problem. Thin: la the manh Ẩn in heedi drzwiOY, BUSIA Alulet Trainer, will be demon turboprop powered Accountans, the first, eleito um psa HIE strated. The Pioneer is in AD Godhorntont - 12-Jantar-
Organon notes that my
mon-Cellulosie TRU
Dec.
Mar.
Sept.
Deo
Mar
Corn, 'No, *, yallaw
Sept.
23.31
Mar
May
Sent.
„AMSTERDAM MARKET:
Amsterdam, Aug 18,
The rubber market was enky) Prices closed today In qulidbra per kilogram, CIF, Sept, as fol
No rubber
・erepa
nited' Press
"Notes: The London Fishbar prices = 100 Eser 'sacti