SCIENCE AND ENGINEERING
ALL ALUMINIUM ROOF
Aluminium-domed auditorium designed by
Kaiser Alaminlum and Chemical Corporation for Ilonointa's Hawallan Village scate 2,000.
GEODESIC PRINCIPLE FOR BUILDING DOMED SHELTERS
"The first major basic improvement in mobile military shelters in the past 2,600 years,” are the words which Col. Henry C. Lane, US Marine Corps, head of the Aviation Logistics and Material Branch, uses to describe R. Buckminster Fuller's geodesic principle of building shelters.
MIDGET BENDING MACHINE completely now design of portable bonding machinc -has-been-developed for the small contractor and user. It is marketed by The General Electric Co. Ltd, and can be carried In a tool bug.
It has been produced primarily
bending
conduil
for
tubes otin, and in, diameter and can be fixed to a bench or bolted to the leg of a standard tripoo vice. The GEC C.7297 vice has been modified to commodate the bender.
Conventional benders mally effect a bending of three or Diree
ac-
|
Is
The geodesic dome generally bulit of interlocking traingular elements covered with a skin which may be aluminium sheet, plastic, glass Albro, rubber or u combination of these materials. The even distribution of stresses and strains makes It possible to create a light-weight structure of tremendous strength.
Indicative of the
econoinic advantages to be derived from this building principlo Bre figures enlerging from experience of the US-Marine Corps with geodeste constructed last year car
by the Washington Aluminum Co. of Baltimore. The done measures 117 feet in diameter and is 40 feet in height. The frame is made from 26 tons of extruded Ruminium Bhupes. Free all central supports, the dome pra- vides 10,700 Bq. ft. of clear working space.
the
dome
THE CHINA MAIL, MONDAY, SEPTEMBER 30, 1957.
TRADE and
COMMERCE SECTION
Business Confidence At Low Ebb
BIGGEST JOLT WAS FAILURE OF STOCK MARKET
By JOHN MORKA
New York, Sept. 29.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Slock Exchange this
mately $50,000,
US business confidence appeared to ebb to
now lows last week. Billions in stock market valuations were wiped out as prices continued their months-long plunge. Hit by the Government's tight money policy and rising costs, many big companies are having some second thoughts about the uk Bank future.
that
COTTON London Market
GOODS MARKET
Remains In Uneasy Mood
London, Sept. 29.
London markets had a very good week-viewed at slight distance but the prevailing mood re-
mained one of uneasiness.
Sterling enjoyed a fairly good demand and rose from Pr
10
New York, Sept. 29. Worth Street cotton goods activity, down to a low ebb since late
to vlous morning mounted to approxi-
spring, came Noon quota-
Saturday's 2.78% practical tious and the morning's trans-
halt last 2.79 3.10, almost a full cent, but week when selling nobody lastulged in optimistle predictions. Not until sterling agencies operated with reaches par of 2.80, and bobs gently around it will there be a skeleton staffs, or general sigh of relief and
alto-spread of closed down gether for the Jewish British holidays.
actions:
nyers Sellers Sater
Uncertainly about the lung-
there On top of this, awaited
indications fourth-quarter boom, now cutbacks in 'Government spend Federal Reserve Board was not ing, new layoffs and the grow- at present thinking of any Tevident (0) 11.70 Ing pinch on corporate profits laxation of the credit and all contributed to Die generally monetary brakes, Board Chair- bearish mool.
man William McChesney Martin has in the past indleated that the Government had relaxed its BER the tight money reins in 1953 per- Trust
haps too soon, setting the base o for
The bingest jolt to business confidence stems (rom
failure of the stock market rally. This past week wis exception.
over
30 Billion
week long six billion
were the
Khares BANKS
East Ashu
SHIPPING
PICCRA
U50
10 10
1.55 7.70 2701.10 309) 7.90
DOCKS, ETC.
300 11.8E
LAND, ETC. HK Tatel SER LAY Besity
14.00 15.20 34 3444 1:40
1.5214 1.65
1.27
101 103
400
he is determined not to make the same mistake again,
Electric
in
27.00 Telephone. 2190 21.70
INDUSTRIALS Cement
26.40
Jost Last
145
13.00 16 10 1600 r. 16 12.34
13 60
4.45
Amaly.
UTRITIES
the present upward trend of prices. It is now felt that Light 101 18.40 18.00
The accent, therefore, appears Something like 30 billion
To be on deflation, Deflation for Rope market values have been
business, Investors and the pub- STORE. ETC. the pig 10 weeks.
lic means in varying degrees: Dairy were retrenchment,
smaller urants. Watson lost as Investors turard mutions
some layoffs, budget cutting at Late. C. In the absence of encouraging | federal, state and municipal coTTONS
as to news
the future of levels. Americas business,
1711
Deflation
The market
Monday's session huud s biggest one-day drop in about two years. The Meanwhile reports from busi- Dow-Jones Industrial average ness continue mixed, In some dropped 9.40 points, U 2.02 cases on the ragged side. Prives
rails per cent to 458.98;
lost for many commodities recently 4.12 points or 3.21 per cent to have been soft-nolably in cop- 124.35--lowest since November, | per, lend and zine. 1954.
Texic
Whatever buying
future.
n
libr
confidence in
Government. Stocks were up: War Loan up £1-10-0 to £63 compared with recent developed | all-time low of £00 and Old
Are Cheaper Leading Industrföls, though are cheaper than some month ago, enjoyed only moderate buying.
was strictly of all-in nature Consols up £1-5-0 to £15-16-0;
utes, compared with its 1987 low of 10 cover Immediate
its earlier high of 10034 mostly in the print cloth yarn 245 and category. Sheetings, osoburgs £55-15-0.
nd a wide range of Industrial fabrics were in, the doldrums.
Prices were
ult they quntably 10.30 changed in most instances, but weavers, in need of cash, were said to be
lower receptive to
This hesitancy items to t Dils. Some observers belleved largely due to the recent wenk there was more price-cuttingness of Wall Street, The Dow going on than appeared on the Jones average of American In- dustrial shares closed last week at 456.80, only a shade over its It that low is Jow of 454.02. penetrated this coming week, Wall Street will be advertising to the world that Americn heading into a recession-not the same thing as a
depression
Bank Of France
Statement
Franc 201,204,302,420
12,410,954,303
surface,
CURTAILMENT
Consumers, avoiding contract Engagements, asfeed for quick
orders.
deliveries This lack
against old
of face
Ja
of forward buying but nevertheless causing gen- has left the whole
price
cral misgivings abroad, picture persisted in
There was strong demand for spreading mill curtailment, chain store shares on the theory with some plants announcing that rising intentions to go into outright liquidation. Other milis planned
shorten operations more "unless a market change
develops very shortly."
Paris, Sept. 20. The Bunk of France state-to Supply appears to be catching About $1,000,000,000 was re- pp, with in some cases, exceed ment for the week ended Sept. covered on Tuesday but the ing demand. This has brought 19, reads as follows market fell fat on its back on on some further retrenchment
about-3.3. in operations business drops be- Total gold holdings. Wednesday, losing
Total other billion for an overall three-daying mast noticeable recently in
renclea such major segments ipss of about $6,000,000,000,
as distri-
Sight balanes abroad bution, steelmaking, cruce, oil EPU............
Govern- Advance to Stabilisa and coko production.
tion Fund- cutbacks Dn ment
defence Total bills discounted spending will cause some fur- Bank holes In rir-
culation her dislocations in aircraft in- dustries, steel and electronics, among others.
The market actually breached the previous year's inw in the Industrial average, touched on 12454.82 but February rallied to close at 450.95, of 5.92 points, or 1.28 per cent on
the day.
Average Dropped
Since the year's high hit on July 12, the industrial average as of the close on Thursday has dropped 63.92 points, or 12 per vent; rails, 29.60 points, or 1D per cent; utilities 5,00 points, or seven per cent. The lotni loss since the July 12 high amounts to 30 billon, or 14
MARINE CORPS The Marine Corps established But shelters of this desim nor weigh-only-3 per cent as much radius hul_1:59: only 1 per cent as and talt
existing shelters. times the diameter of the tube Packaged, their volume is only but the Midnet, by the sub-6 per cent that of conventional per cent. stitution of a smuter former supplied as an extra, duce this radius to 2 in.
can re-
The enables tubes to be other "nested" Inside cach where space is important and a close radius bend is essential.
The versatility of this bend- er is achieved by using on ad- vance pressure roller in addi- tion to the usual guide roller.
much
shelters.
as
on
This Agure was just o bil unter the overall gain by the market from the low hil February 12 to the high of July 12-five menths of almost interrupted rise.
U11-
One favourable feature of the market, according to observerU, has been the absence of
any
Meanwhile, the all-important auto industry appears to be hay- ing some troubles of its own. Auto production last week fell to a 52-week low as auto com- panies began rolling up for pro- duction of 1958 inoxtels,
Auto Industry
Words automotive reports noted that unsold 1957 cars as of Sept. 10 came to 840,000,
Curren: nccounts and
deposits
favourable
even
to
EIRE RAISES BANK RATE
Dublin, Sept. 29. The bank rate for the Irish Republic will be raised from five to six per cent tomorrow, the Central Bank ar nounced here tonight. -Reuter.
COTTONS
HAVE
SLOW
WEEK
By WILLIAM T. PLUNKETT
New York, Sept. 29. Cotton futures climaxed a week of slow dealings last week.
At Friday's close the List ruled 20 to 53 points higher, or up $1 to $2.05 a bale from tho preceding werk.
There was some demand for
retail prices will drive the hard-pressed British pubile into their crowded aisles. Great Universal Stores rose 4/«, and Woolworths and Marks and Spencer 2/G.
Imperial Chemicals, with a Traders
good profit report for the first nearby months because of: 1. cutbacks six months, gained 2/- as did lesuance of only a few delivery further production
Motors. Rolls-Royce.
their prompt slop- reasoned a lessening supply is Ford 11,771,000,000 bound to tighten up the spot Courtaulds, the tobacco shores notice and
page; 2. Less favourable goods picture "before too long." gained between 1 and 2 shillings accounts; 3. An increase in TO
Times Index ar rate of loan entries; 4. An unex- hand-to-mouth The Financial current 1,900,125.930,we The
industrinis rose from buying has
177.2 1 pectedly light volume of hedge been encourers 182.2 but the picture must be selling. 3,172,005,260,470
felt they 356,011,050,255 have had plenty of goods on corrected-it started in Septe -United Prem
hand at prices equal to, or even ber at 100.3.
Oil Shares below, fourth and first quarter quotations.-Unlted Press.
7.Pro
Exchange Rates
this
13.65 12.30
Daninens was done in the local mumelal
market exchange- inorning at the following rates:- U.S. dollar (per $1. Sterling notes iper Australian olen (per £11 Indonesian rupiah (per 1001) Slam tioal per 100) Singapore 15tralisi
27.15
1.01
because
LATENESS
crop
Unfavourable weather for Oil shares were irregular with harvesting and ginning account- Royal Dutch down 10/- and ed for the reduced volume of ¡British Petroleum up nearly the selling. Because of latches? 13/~. Forward Sales.
of the crop, experts were un- Germaans suffered heavy usually concerned over tho selling. Potash 7 per cents non-possiblilty Of U.S. Dollars
of an early frost £0 Asenteds fell
and
its, date The next 30 days The Exchange Banks' Asso assentods £2 while the Young will be of paramount im- 1300 clrtion in Hongkong andunced Loan Jost but the Dawes parlance In determining tho on Saturday, September 20, that Loan non-assente gaited final production for this year, the
the assented sterling. Government survey indicated. the terms for forward sales of and
Raw cotton exports US dollars will be altered Japanese were also strong with
through up non-menteds tellows with effect from Octa-the
by Sept. 24, as reported by the New amounts ranging from E2 down) York Cotton Exchange, amount- the year. Many auto men Agreed Merchant Rates ber 1-
strong ed to $38,398 bales compared First calendar month free of to. Assenteds were think this stockpile
with 870,380 at the same time worked down before the new Swiss Francs Maximum Sell-penalty: thereafter 1/16 down with rises of 1 to 4 sterling.
each calendar month.
stocks were last year. Although dollar heavily marked down In The mid-September starlty models, but some experts lave ing 75. their doubts,
accordance with the heavy Wall price, announced late on Friday
re- rose to 37.06 cents Street falls the premium
from 38.93 flecting British interest la them cents in the previous month and actually improved to 13 per compared with 35,66 cents
pound last year-atted Press. cent, United Press,
a record high for this time of
be con
Motors
Elsewhere, strijces at LWO
General divisions hove caused layoffs of over disrupted 4,000 workers and planned production of the new
ΟΙ speculation and large-scale
electric
In terms of transportation and cost. the savings possible are with
domes krodesle staggering. It is estimated that Marine their adoption by the Corps air arm would result in initial saving: of 1,000 tons Savings in shipping of weight. volume would exered 3,000,000 Savings In cost are cu. ft. estimated at $15,000,000 the saving in erection time quldution by the Institutional models. Thousands of workers about 3.5 million man hours. groups. Much of the selling have also been laid off In farm
Industries. smaller equipment An interesting sidelight Is has been attributed to that a geodesle building covered investors. Many of whom ap with aluminium, glass abre,parently are now eager to také от similar material required whatever
as much only half
heat per cubic foot Os 1 conventional building.
the perts feel that the market may long-term. The usefulness of geodesie dame goes far beyond be in for some further levelling-nuto industry has not come up milltary applications. Designers oft. On the other hand, not a to expectations. Where stoelmcia
when envisage the day
the few fcet that at eurrent low hoped for a pickup in Septem- will Be used for levels, many stocks appear to ber, they are now setting their en- principles
public housing.......
baye adequately discounted sights for Improvement has
And Now A
An
Portable Refinery
American firm gineering
built an oil refinery that can be packed up and moved anywhere.
THE FUTURE
"
An indication of these future applications lies in the geodesie auditorium built of aluminium recently by the US Industrialist
paper
nvailable.
More and more maricel CX-
companies and machine tools.
In the steel industry itself, profits are although the "market hos Im- proved over the summer low point, the short-term vlow is jess
optimistic than over the Orders from the
some unfavourable. businessOctober and November-United aspects which lie ahead. Theso Press.
sce the market as being in position for a technical rally.
Uncertainties
And if you wonder who Henry J. Kalor at Hawhilari would ever want to move one Village in ilonolulu. With a The current uncertainties ap- around, the US Navy is inter-seating enpacity of 2,000, the pear to stem from a number of ested in this portable plant, 40-11. high dome hus A domestic ard International
It weighs 50 tons and folds diameter of 145 feel and was factors. up into six separate loads each erected by a crew of 30-men of which can be carried in in only 20 working hours.
freight airplane.
Halt the War
material shipped
In the last war con- sisted of refined all products,
OFTEN HAULED
In fact, the building went up
to quickly thay a planeload of Kaiser executives due to watch
only construction
arrived time to see the being lowered foundations.
The
Government's tight
Government
Bank Of England
Statement
Londen, Sept. 20.
Sterling
Some Support For Stocks
On Wall Street
By ELMER WALZER
New York, Sopt. 29.
on Stocks met support last week when the industrial average approached the 1957 low set on Feb. 12,
for
there were 1,128. Only 245 Issura managed to gain and only three of these set new highs.
The recovery from the lows appearing an the tape. A total was alzable on Wednesday, the of 501 of them set new lows the session that almost set the new most for any week since June low. That day prices came back 8, 1953 when there were 08B. from the worst but the market The declines totalled 1,033 most Sept., 30, for any week since closed down by 5.02 points in
1955, whch the industrials and 2:41 points The Bank of England state-in rolls. That day the rails made
# lay low since Nov. 5, 1954, money policy, for once. Interestment for the week ended Sept.
Rallronds dild betler than the rates are now at 24-year highs. 25, reads as follows: As a result, businessmen appear
industrinis in the Thursday and
It was noted that the greatest to have turned cautious in their Nole in etrculation
Friday sessions. Their average
on the blue in for
0.007,490,082 Anished the week at 424.12 DIY activity centred The public deposits
chips. Bethlehem Steel led 12,900,707 expansion. auditorum plana Intest
General Motors 200.004.062 4.86 points, Industrials were at statistics Private onto the
261,195,010 458.00 off 11.43 and utilities Turnover with Government securities „show that expenditures for Other securities
14024000 60.03 up 0.76. The uulity rise second and Standard Oil (NJ) third. Then followed such issues Designers at. Kaiser plant expansion and equipment helpt
35-3200 reflected a growing demand
as Chrysler and Royal Dutch. have been scaled, down to 97 Ratio Aluminum & Chemical Corp.
United Prem
the more defensive issues,
The lowly. Benguet spoiled the throw predict that goodesle building billion from 37.4 billion, carry-
continuity of top-ranking issues. will find use in the very nearing over into 1858 as well,
Other actives Included Curtiss- future for auditoriuma, swim- Last week, President | Elsen-
The decline, which sent prices Wright, Gulf Oil, Westinghouse Portable refineries, erected in ming pools and gymnasiums, hower fold the
down 8.40 points in the indus-Electric, and New York Central. a couple of days, would have warehouses, shopping centres, Bankers' Association at their
trials on Monday, was the same saved much shipping.
garages, factories and myrind"] Allantic City convention of the
Wall Street opinion on one prevailing for some time, They should have
comnter-other uses.
· Gavernment's determination to
and the news that caused it market is divided, just now with Answers-1 Challenger, form of To geodesic
on with dis tight money Welght, S Boxing 4 Fronce.
hadn't changed.
aalzable group looking for struction represents enormous policy to curb Inflationary
Ring.. Referee, 7 Contest, 8 Since the market hit its 1957 rally on the bellet. the market Normally, an oil discovery
market possibilities for price rises. There was also mant wait yeats for pipelines, aluminium.
The
design the statement of Robert Ander Champlon, 9 Heavy, 10 Boards, high on July 12 thore has been has been oversold at least tem- decline porarily, Some were on the at a refinery. With a portable principle is such that no other son, Secretary of the Treasury: 15 Tille, 16 Fight, 10, Verdict, out 32 billion or 14 per cent, tual decline necund the
11 Punch, Defeat, 13 Canvas, an almost continuous
which knocked prices down more bearish look for an even plant-it could begin turning material is competitive in cost, that the United States was 17. Victory crude oil into saleable products | in
and in making "hoadway, in its battle
The market was the broadest level in the industrial section. ‚for local use in a few weeks,
agajast Indation.
Georges Carpentier (The boxer), siico July 10 with 1/400 kmpas - United Press.
чего
Often they
hauled thousands of miles to armies Aghing only a stone's from oli wells.
Y
ciat eises, too, in helping ziew oilfields.
handling CD&C resistance to corrosion.
соп
American
110
NAMESAKES
THE DECLINE
the
It's got to be Lombard for MY money!
walchever way you look at it, a
with Lom-
Hank. Deposit Account for FINE
bard Barkings Dinterest without deduction
income United Kingdom
8%
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GROUP ASSETS EXCEED £15,000,000 Interen paid half-yearly without, deduction of Und
Income Taxi Kingdom Hend today for your copy of "Dank Depokil· Booklet No.. AQ.74 from General Manager
LOMBARD BANKING
LIMITED BANKERS
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7