THE CHINA MAIL,
TUESDAY, MAY 22, 1956.
Page
TRADE and
COMMERCE
SECTION
Confusion About Automation WORLD
INDUSTRIAL RESEARCH
DEPARTMENT
ISSUES REPORT
From Our Economic Correspondent
London, May 21.
In Britain there are three ways of thinking about automation. First, as fit meat for cartoonists and comics (and what a blessing it is to both).
Secondly,
as an undefined and Wellsian menace which will sooner or later deprive the worker of his bread and lengthen dole queues again.
operate.
tute
Under
the
present
Thirdly, as the aire qua non of Britain's economic survival, strict "keep your nose out of You subscribe to the first at my job" attitude of the British lude if you are convinced that
unionista that happy "I can't huppen to me." And compromiso is unthinkable. you cun alt back and chortie at Some compromise will have to The many conflicts between that be worked out between beloved but entirely untypical agement and labour during any character the "British working switchover. But there is no need man" and the lumbering stupid robola.
Detached Souls
men-
for panic measures here. For as in sensibly made clear in the report on automation referred
earlier, automation won't be an overnight revolution. It The second approach is yours will come gradually enough for
announces men If the menagement
to be trained for their short time will be worked while
new jobs. Therefore the switch- automation equipment 19 -
juver perlod can be employed to Atailed in your factory.
train men for these tasks. Who And the titel is the stand subsidises them then? Forward those blessedly detached souls
looking managements and gov- who think of human problemsenment anxious
techno-
in terms of units on a balance logical progress will have
work that out between them,
sheet.
In all three the element of 1ruth is compounded with the Cause Of Panic element of near hysterin.
All
Leslify the
La muddled thinking which pre- vails in Britain about automa-
And the confusion
from
source
three
to
The third attitude that auto- mation in some sort of panacea is more dangerous than either sterns of the others. Basically JL simple true that Britain must mechanisc The word "automation"
if she is to survive economical-
It surprisingly
itself as a word. And the lackly. But advocates of this view of a qualifying adjective.
in the fervent championship of Automation
Impression it give rise to the
Is a new won!!
It is a handy headline word. that British Industry is a creak- But it is not fisted in the recenting moribund collection of anti-
and standard dictionaries.
aura
tion "
and that un- qualed machines less universal automation takes place right now economic dis- aster must befall.
HONGKONG Two Billion Drop
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong-
kong Stock Exchange this morn
amounted to approximately
$350,000. Ncon quotations and the morning'a transactions;
SHARES BUYERS OELLERS SALES
BANKA
MK Bank
Eat Axis
INSURANCES Union XD Lorebard
DOCKS, ETC. K. Whart Dock
Provident (Old)
Wheelock
LAND. ETT HK Hotel FC Lori
...
Humphress
RUBBER
200
1070
30 3000
£10
20
30 1000 346 of 10.00
13.00 13.00
0.20 8.73 200 0.70
BUGO E 8.75
700 4 03
+
13.70 13,00 03 03),
100 03 10003
17 40
A Tabber 1.10 120 UTILITIES
Tru..
22.00 22.70 1000 6 22.68 Y`mati Ferry 100 107 200 or 10% C. Light 10) 20.30 22.00 47 22.60 C. Lig i 19.70 aboo 10.30 Blectric
31 300 31 3044
1000 30.70
129.90
In
New New York Stock Values
New York, May 21.
Close to 2 billion was erased from stock valuations today, but it was done without pressure as volume dwindled to the lightest level since February 16,
with
Tumover totalled only 1,940,- 000 shares
compared 2,020,000 on Friday.
Of a total 1,170 issues traded, only 190 were higher while 789 Declined.
National Steel Corp. New York Central Otin Mathieson Ods Eleysaors Owen-Illinois Gines
Racine Gas & Mec. Pecife. Western, Oli Pan-American. Airways
Parke Davis Co.
All groups joined in the cut-Paramount Pictures back with Industrials losing Penny 1 C. Co. 4.77 on average and rails 2.68.nn. Ball Co.
Philip Morris Some support developed Inte in Procter & Gamble Co. the day an industriais ncared Publicker Industries the 490 resistance level in their Pure Oil average and closing prices must issues were slightly above the day's lowa,
fur Radio Corporation
Republie Steel Reynolds Metal
Motals, steels, chemicals, motors, oils, aircrafts and nails hach losses of a thun 3 points.
point to more
"
B015
Itin
Rails Drop
.....
20 10.90
Macro Telephone
9.50 0.30 22.40 22.00 11.00
In rolla,
100 * 12.00 100 v 11.00
...
INDUSTRIALS
Comment 341 344% 1958 195
Rope
12.10
Dairy
Warthon
COTTONS
...
STORIES, ETC.
16,10 16.30
10.60 11
0.23 0.39
77.70
8.45
Textilro... Nawang
MISCELLANEOUS
Allied
NEW YORK
RUBBER. MARKET
The standard contract 10 to 50 points lower with sales of one contract.
Holidays at London and Singapore curbed overall market interest with scattered selling finding trade buyers reserved.
It is therefore without (1) agreed definition and this means
New York, May 21. you are free to apply your own
The No. 1 Rss rubber futures Interpretation, This is clearly This doubtless unintentional contract today closed 35 to S1 dangerous and the word has overplay of near hysteria ia points lower with sales of 83 been Invested with a special what panics the workers likely contracts.
to be affected and muddles their If the ugly sounding
word thinking. hud never been coine I the For all its faults-and it has economists, scientists and en- been criticised for being a bit gineers would have had to fall too glib on several points-inst back on the word "mechanisa-week's reports on automation by tion. This would have been the Department of Scientifle and readily understood and the un- Industrial Research should go a doubled problema consequent long
towards dispelling upon it would have been re- misconceptions about Bulama- garded and tackled in a sober, tion. matter of fact sort of way.
Man Still Master But if "mechinnisation" hnd been used instead of this fright-
includes It
this
conforting ening new word then on
"Auto- adjective
have had to message in its preface: would precode it and that would have mation will not make robots of contrary it will us oli. On the For every-demand wider knowledge, great- mechanisation to the days when er ability and a higher
of skill from worker and man- agement alike,
All the publie hos to do now
been "increased." one knows that
back Koes man discovered the wheel. So for that matter does
automa-
way.
In
fact, most brokers and doalers took the day off to attend the annual golf outing of the Rubber Trade Association.
Itess
On a nominal basis, Spot No. 1 was indicated around at 29% cents a pound. Futures,
No. 1 En May
Sept Dec. Miny
July
degree
July Sept.
tion but no one seems able to is to remember that automation Dec. see that.
Look Again
is nothing new for frightening Mar. jand that come what will man is May
still master of the machine.—were closed for the holiday-United So to millions
Britons London Express Service. of automation is something FLONY
of H. G. Wells anki redblant
"1084", funny or frightening or not depends on whether or not
It is likely to affect you.
And
of Re-
Department the Sentide and Industrial search didn't help much giving the now word official bluing by using it as a title for their new report on the
use of machines.
increased
can't
But let us look ngain at the three attitudes towards tulema- tion. First,
*It that happen to me." Well of course that is arrant nonsense. happening right now. Tho typewriter I am using is a fine has not put any journalist out
example of automation. But It
my
of a job yet. It makes work adster, it helpo tho
UN Sugar Conference
Formally
Southern Railway
Shell Oll Co. Saint Reg. Paper Sinclair
العام
secony Mobliai
South Puerto Rico Sant Southern Nayonal Car Bouthern Halway (Com.) Standard Brands Standard Oil of Cal. Standard Oil,of Ind Standard Oil of N.J.
Boring Drug Co. Stokely-Van Camp.
was the worst offender with Brudebaker-Packard Corp. drop of a
Swift & Co.
Tide Water Aam. 011-
United Alonsoft
US. Cyperam US. Line Co.
Metala had some of the Texas Oo, sharpest losses among the Twery Centary Fox Film industrials, Aluminium fell more | Union Carbide than 3. Reynolds nearly 3. Unton Poelle Railway Anaconda and Alcoa around 2 points each.
steels, Steel, Armico, Inland, Young-
Sheet stown
lost and Tube nearly a point to 11⁄2 points,
Chrysler and Ford lost around a point cach, General Motors a small fraction.
Bethlehem, US US Rubber
drop of more than 2 points
I Du Pont and point loss in
Union Carbide stood out En chemicals.
to
in
the
• Was
08. Smelting
us. Steel.... Warner Bros. Westinghouse Electric West Va. Pulp & Paper
Woolworth
COTTON
MARKETS
New York, May 21. Cotton futures. today started the now werk on a
sharp
downward in mo-
derately active dealings.
Tokyo Market
Stages
Late Recovery
Tokyo, May 21.
The Tokyo Stock Exchange opened hesitantly
Old and now crop months last week' depressed by pessimistic reports from
felt the
al equal pressure
fiquidation and hedge selling Moscow that the Russians might take a tough while buyers acted withstand in the Japan fisheries talks but as the week
greater degree of caution,
After
an extreme loss of $2,05 advanced trading became active.
a bale on the nearby July de- moved up
The dull opening week note | Among the industrial stocką very the market me caused the Dow Jones average) Yawata Steel, Nilion Kokon and
under day trader covering, but still to slip to 472.10 on Tuesday but Full Steel jumped to 12w highs, It had risen | Mitsubishi Shipbuilding and Anished with losses of 15 to 28 by the weekend,
bir gains. points. Opening prices were to 482.84 for a gain of 7.38 yen Hitachi also made
particularly the latter which rose New Orleans over the previous weekend. points
The trading picked up with te one hundred yen, closed off 13 to 29 points of low prices issues. In this Add
lewer.
@to 18
Sellers
cited 2
budget
bearish influences, including: r. wore shipping, coal, industrial
and spinning shares, Favourable crop and weather
515
43
10
news; 2. Farm bill uncertain- tles, involving Government
31 polley on exports of surplus
Бо
52
Coals Gain
announce-
The Lavourable raw colton; 3. A discouragingly ment of the British Chambers slow demand for textiles; 4. Ajor Shipping's iramp
freight tak slow mlil demand for spot col-index for Abril at 151.6 In- ton ond 5. A lower stock spired spirited buying of Nippon Yusen to send it to b market.
Obscured in the array of un- | new high of 83 yen and
Nihonkui
Hinode Kisen and favourable factors was a cut in Kisen for gains of more than
Speculative Issues, continued to bo active. Mitsukoshi Depart- ment Store stocks were a target of heavy buying on the strength of reports it was bullding a
in branchi
Nagoya-Urkted
Press.
NEW YORK SILK FUTURES
New York, May 21.
Silk futures today closed un-
30% gestes farmers this year will shares with improvement in the chimiged to five points lower
oal market were Summamoto
116
42% plant the smallest acreage in 74 coal
with no sales reported
43
44%
71
85
$21
survey indicating a sharp
04
74
this year's cotton acreage,
30 pointe
27
A preliminary survey mug-
Gainers in the coal mine
which rose to 118 one hundred yn, 95 yen, and even
Mine which
Closing prices were:
had
May and June
1,400
Aug.
Sept.
Oct.
Nov.
Dre, and Jan.
United Press.
103
GO
years since 1882. Intentions to Coal Mine plant
about 10.390,000 yen, Belsu, over Doberts, down 8.7 per cent from Mitsubishi,
19 last July 1, and 6.3 per cent less Mitsul Coal
45
12072
than the acreage allotment of suffered an enormous loss during 17,347,000 acres,
the mass strikes of Delober- Reports of increasing milk March, recovered to 81 from 08 25% curtailment, following several yon in the preceding week.
months of sagging salés, pointed
slow demand for raW
eastern and central
selling at very cheap prices and
creased 428 bales to 12,440 bales,
130
18122
up the
03
cotton in
20
6515
mill areas,
01
Atlanta reported low
grades
66%
22
stem to be in abundant supply.
B7AL
The certificated
stock de-
40%
***United Prem.
Monts
Volume
Open interest
May
13,700
23,200
July
13,700
247,400
Ocf.
0,700
300,700
Det:
17,200
444,000
10,400
211,700
May
9.100
133,100
July
0:00
103,000
Del
1,100
12,200
Total
1,482,500 bales
NEW YORK
CHICAGO GRAIN
For ols the losses run Rearly 3 points in Gulf,
Zenith
was off 3 televisions. Reynolds B pearly 2 in the tobaccoa, Eastern more than a point in the dir Lines,
Active readership
top quality with General Motors and the US steel in the top two spots for volume. Volunt
the un Stock Exchange shares.
Bond volume on the York Stock Exchange $3,500,000,
Dow-Jones
were:
30 industrials
MARKET
Prices of futures closed today
da follows:
Spot
July
October
December
March May weather July
October
Chicago, May 21. Grain futures were steady to weak on the Board of Trade today, after bogging down from
of strength a modest
opening Liquidation of May contracts
with стор along American news prompted the decline, al- 120 WILS 750,000 though Senate action an
farth
till was also responsible New for the general sell-off.
Corn futures were about even throughout most of the while old crop soylstons show- ext casiness after an early ses sion recovery.
closing
Comm. future price
Am. Bugar Bet.
American Tel & Tel
Was
averages
401.52
172.49
NEW ORLEANS
37.82-84
POBIE
E.A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London
Halled- 23rd May
Das Hongkong 24th May
25th June
30.23
13.99
32.72-70
$100
$4.60
Dutwards "CANTON" "CARTHAGE"
30,00
31.00
day.
Prices of futures closed today 19 follows: Goo
34.01
October
32.72
December Mazals
32,14
MAY
July
October
Wheat closed off 6% to up
60.15 cent; soybeans up 3% to off 15
Ναν,
20014-1
2209-34 21241-
13841-14
142
128
Mar.
SAO PAULO
32.42
33,83
11.00
132-15232 3484-148 15094-151 1519
Oct.
Doc.
MAY
In the US the average price of 15/16 middling cotton. at 14 designated spot markets was unavailable today. Sales total- led 10,500 bajes-United Press.
NEW YORK OIL AND SEED
New York, May 21.
Prices of cottonseed oil futures clored today in cents per lb. as
*
"ADEN”
"CANTON"
"COKFU"
20th June
18th July
15th August
29th July
20th Águas
17th September
Vla Houthampton, Port Bald. Ader, Borabay, Colombo;
Homewards
"CANTON"
Pepang & Bingapore.
Leaves Hongkong Daw London
1st June
"CARTHAGE”- 29th June
**SURAT
11th July
24th August
21st, September
2nd July
Giat July
13th August
24th September
22nd October
Singapore, Penang, Colombo, Bombay,
Fort
Bald
London,
Also entis Hamburg, Rotterdam & Antwerp.
"SOMALI
"FREIGHT SERVICE
dùe 2011 May from UK.
"SINGAPORE'ue 314 May from UK..
Andes,
"SINGAPOREoads 10th June for Singapore, 'P. Swat-
Jenhain, Peneng, Aden,
P. Bald, London, Hig burt. Botterdam Antwerp
"BOMALI” toads 18th June for Singapore, P. Bret
20 rulls
18 is
"OANTON"
20.05
66 stocka
177.00 cents. Futures:
28.00
40 bendy
03.77
"CORFU"
38.22-23
163.02
CLOSING PRICES
27.03
Corim, spot price index
162 Wheat, No. 2, red
Via
Standard contract
Moody's Index
41730
Spot
217-2250
Future closings, in pence per
22.05
220.70
21.10
Closing Prices
May 220 (H) 219% (1)
22132-210%,
ib. wore as follows:
July
July
33.40
Bept
27.70
38.25
27.40
20.80
Alden Ing. Aey.
$ 2034
Mar.
2013
38.20
The UK and other world markets
Press,
Allied Chemicals
Allied Mills Ine.
12015
34
Corn, No. 2, yellow
33.20
Spot
Allia Chalinors
May
American Airline
2014
July
American Cable & Radio Corp.
Sept.
American, Cyanamide Co.
70EK
Nov.
Am. Mach. & F dry.
20%
Mnr.
American Smelting
53 | Bye
May
108
July
7945
Qais
621
May
July
0116
Spot
Bendix Aviation Corp.
飘幅
Blay
Benguet Con
July
Bethlehem Stoel
1491
Boeing Airplazie
1
follows:
Borden (The) Co.
601
Jan.
July
Burroughs Add Machine
Barley,
Sept.
32
Det.
Spot
730-140
13
721%
New York Bour
Dec.
Тел.
14
200 lb. sack
$13.70m
Mor.
43
United PreWS:
MAY
July
404
New York Sugar
Market
Convened
United Nations, May 21.
Nationalist China warned today as the United Nations sugar conference formally convened that she will withdraw from the International Sugar Council unless a "big increase" in her world market quota is granted.
printers who have to read my Mr Yang Chi-tseng, head off Finance Minister S. Salvador spidery handwriting anti it the Nationalist China delegation Ortiz of the Dominican Republic provides work for the men who to the United Nations Sugar Co said his country, too, wants an made it and those busy Bouls ference, told the United Press | Increase, who frequently have to repair in a brief interview following a
it. I have not thought about it short initial session of the con- much before, but I suppose Cerence, that all in all it is something
of a blessing.
The Quotas
Various other
The world sugar quolas, under
nations
Lit
If however, there had been dicated that they too, are look the International Sugar Agree some sort of hiatus while inte- ing for word to increases in ment, which will be reviewed wells were removed and type their respective quotas and some are as follows: writers substituted the fore-stamy sessions
might have ahead during the talks schedul- going paragraph
automation.
Compromise
be appear to
American Tob. "B" Anaconda Copper Armee Steel
Azmour
jikawa-Lima-Ham,
Belgium (including Belgian been more reserval in its op-ed to continue over the next Congo) 50,000 tons; Brazil proval. Ankl that is roughly two weeks.
15,000; Nationalist China 000. ind attitude of the British
000; Colombia 5,000; Cuba, 2,- workers likely to be affected by But in an informal survey 280,000
Czechoslovakia, 70,000; among some of the 80 delgations
70,000;
Dominicon invited to attend the conference Republic 600,000: France (
China appeared doter-cluding territories) 20,000; In And even denegarding mined to withdraw from the docela 250,000; Lost Germany hysterical feara
Hungary that The International Council unless 70,000: Mexico 70,000; Hollarid
180.000; Haiti, 45,000; machines will take over" they substantial quota -ineronde # have good chuse for coricet forthcoming.
(including Dutch Gulina) 40,000; | There is bound to be some sor
Feru 280,000; Philippines 25,000 The Philippines delegation, Poland 220,000; Boylet Union factories, Tone Elizalde, maid his country
200,000, Yugoslavia 20,000.
„of dislocation while automation
plant is installed in
only
Baltimore & Ohio'
Candian Pacile R.
Cave (3, 1) Co.
racior Financial Corp. Chrysler Motors
Cetane Corp.
Chane Marshat, Horlic Colgate-Palmolive Co. Commercial Credis Commonwealth Moc. Consolidated_Edison
Comineral oil of Del. Crane Co.
own Zetterbach Cuban Amer. Sugar Ikamand Alkali Dow ChemSala Dupont de Nernours" Eastman Kodal
El Paso National Obs
Erlo Rallroad
Family Finance Corp Ford Motor
General Electric General Foods General Motors Gen Pub, ULL). diidden Co. Goodrich (B. F.) Co.
Cloodyear Tiro ...
leyden Chemiest Ingersoll-Rand
Homatake Mining Co.
and Steel Co. Interchemical Corp.
| Biliary Machines
Int Harvester by International, Niskel International Paper Intuins a roi John-Manville Co. Karumes C. Power & Light
Forumont Couber
feet Meyer job. Zookissed Aircott
What to do with the Works would like a “higher participa The Polish and Croch quotas overcin tuning that hiansy That Isure on in the world market and do not include their export to big question. An Italian whool
Conta Indoriasis which withdrew the Soviet Union. In addubn.
firm got over this by eronloving from the Council in 1968 in the agreement author Its lent workers Bulldat
and bricklayers, for halides protest against a quota limitas Rion, zouden mod Niemansrun-to witch were to house he is was expected to seek a bigger export in the peopl fmachines, they. would fucilocation for its sugar,
'to 0,000 tona,Ultisa Proro
Soybeans, No. 2, yellow
Sept.
Nov.
037%
323
27532-35
Now York, May 21.
Balos 265 contracta
#
*
17.05 1750-32
10.00-07 15.00
*
10.84
14.83-80
19,08
15.08
Oncas redira Hay 2017 July 23.55 cents per pound, spot cocoa, Acern, 20.05, Bahia, 24.30; and Venezuela 28.80-cents por pound.
at
Soybean oil was quoted World No. 4 Bugar futures 15.14 cents per lb. while coco cloecd today unchanged to 1 aut oil was quoted at 124 cents
aiz point higher with sales of three per 1b. West Coast, United
Contracts.
BOG
23
0493
Both markets coasted along
on a small and mixed routine
bilsinces between trade interests.
Contract No. 4..(world)
Press,
NEW YORK METAL FUTURES
New York, May, 21, Prices of metal futures closed today in cents per lb, as follows:
Lead
A
$24.000
14.901.
Futures:
3015
July
Sept.
Oct
Mor.
MAY
July
May
Jung
Spot (cente
Cuba)
May
Sune
Contrhot No. U
Zine
MAY
11.020
July
5.01
Julle
11.000
100
dept. Nov. Spot-(centa per Tb. eit NY
[ ́exduty}}
Copper May
39306
Jube
41.906
„Unlled Prež.
·1.50
Exchange Rates
the Tom
SURE'DA.
CHICAGO LARD
FUTURES
Pridea of
#
tenham, Feriang, Ader, F. Baid, Gados, Mar
ellier. Havre, London, Hamburg, Rotterdam & Antwerp
BRITISH INDIA S.N. CO., LTD. 1856 - A ÍUNDRED YEARS OF SERVICE — 1554
due 23rd May from Japan "ORMARA”
sails 24tdı May for Sing pong Penang
Tang
Calcutta Chhitingung
"SANGOLA" due 2nd June · from Japa
sails 3rd Jude for Singapore, Penang.
Rangdon & Calcutta
*WAROR
ABORA" due 13th Juns from Japan
salle 18th June for Singapore, Penzor,
Bangood. Chiutta Chillagoog
P. & 0./B. 1, JOINT SERVICE
dus at May from Japan KALLE and Tube for Singapore, Madras, Colorabo, ПОМАЛУ
Karesi
"ITAURA"
"ITOLA"" #i due 5th June Irom Bosbay
Balls 1101 June. Kvg Japan "OZARDA"
dus 10th June for Singapore, BOM- valls 12th June BAY, Karachi, Baermis, Khorramahani, Kuwait
Mena-al-Ahmedi
EASTERN & AUSTRALIAN 5.S. CO., LTD. "NELLORE” e 9th June from Aunicnika "ARAFURA", londs 6th Jude for Bandakan, Rabati, Brisbane, Sydney | Mal bourne, de inmida, -All ‚vemele, kave liberty, to call as any parts,ON or out the rente de the redte 4, walling app wup.jaz to change or amendment with or without notice,
dor full par troibus aunty in MACKINNON MARKENZA V ob OF HONG KONG UL