Page
SCIENCE AND ENGINEERING
BOTTLE-CAP MACHINE
A now machine for applying pleated aluminium caps to bottles was demonstrated in Britain recently,
The caps can be appiled to a wide variety of bottle closures, Including screw-caps and crown corks. The machines available, mado by Fords (Findsbury) in Bedford, will give outputs ranging from 3,000 to 7,500 bottine per hour.
This British Arm, which specialises in precision engineering, has built machines for firms in over 64 countries throughout the world.
The engineers have developed a special aluminium foil, avail. able in any colour and with embossed finishes, to fead the machine.
THE VISCOUNT:
ONE MILE OF ASSEMBLY LINES TO FILL ORDERS
Figures for the first three quarters of 1957 show that the Vickers Viscount Turbo-prop airliner has maintained its position among the world's best-selling comme cial aircraft. The average rate of build over the po nino months has been ton Viscounts per month one every three days--and production in continu at this peak rata.
The number of Vipecunia de
livered to date is 235, out of a
saics total of 374. Subject to Brussels World Fair
completion of
contracts
ΠΟΥ
under discussion, the order book
Is expected to reach the 400
mark in the near future.
Assembly Lines
(Air-
Viscounts are in production at tvo Vickers-Armstrongs eraft) Lad factories. The new 800 and 810 series Viscounts are built in the parent works al Weybridge, and the smaller 700 series of which over 200 are in world-wide service-Bre
pru- Bourne- duced at Hurn, 71B05 mouth.
Viscount
production takes assembly place in six separate fines which,
ULTRA-MODERN
STRUCTURE
OF STEEL
By SERGE NABOKOFF
Brussels, Oct. 13.
THE CHINA MAIL, MONDAY, OCTOBER 14, 1957.
TRADE
Pagë 9
and COMMERCE SECTION
WALL STREET AND THE SATELLITE
U.S. FINANCE CIRCLES
PIN HOPES ON AMERICAN MISSILE PLANS
New York, Oct. 13.
COTTON
-N.Y. STOCK MARKET REVIEW
GOODS MARKET
New York, Oct. 13: The Worth Street cotton goods trado experienced another week of sluggishly slow business..
American financial circles are counting on "Sputnik" to put some new life in the U.S. economy, which has been showing signs of dragging at the heels in recent months. Russia's launching of the first man-made satellite might set off a new drive by the United States and other nations to rush perfection of a missile of similar or even greater scope, in the view of an increasing was a convenient excuse since number of experts.
Such a programme, it is felt, might involve huge sums for defence. It could mean the end of the government's economy moves and military stretchout programmes, increasing pressure on current debt ceilings, a resumption of spending in the aircraft plants hit by government culbacks in payments.
An all-out drive to produce Although the market plunged
on Intercontinental missile and the vast cost involved, could alco conceivably re-stimulate the inflationary forces to the point where the Federal Reserve System current anti-inflationer polley might come under heavy strain.
Disappointment
But business
to new hws for the year Ds incusured by the Dow-Jones in- dustrial averages, issues of air- craft companies and allied in- dustries showed considérable in the face of market strength pressure elsewhere.
Guins in such aircraft-missile Justes
dynamles, as general Martin Aircraft, the chief con- tracter
North on missiles, coming at a time when American Aviation, ringed three points. There was generally
eutling 13
to
interest.
the
back on new plant expansion tremendous investor and Inventory accumulation, these stocks being among when steel production continues most heavily traded. to disappoint.
Industry layoffs are becoming more fre- quent, the move could give the American economy an unlocked
when
for shot In the arm,
In the view
of many.
Downtrend
HONGKONG
STOCK EXCHANGE
The world series boseball gome detracted attention, but market analysts thought that
business has been on the dull site for many weeks past.
The wvors! stock market plunge in two years was cited as a more fundamental reason for prolonging the dull situation. Executives feared Uie drop in the securities would increase degree of consumer hesitance in face of a cloudy economic out- look.
Industrial layoffs, the loss of overtime pay, light money, and the slowdown in September re-
were tall calce
other elted handicaps.
They all combined to suffen
Break To New
Lows For
Past Two Years
By ELMER WALZER
Now York, Oct. 13.
Stocks broke to now lows since March 21, 1955, during the past wack on the largest volume since the wook ending September 30, 1955. The break was a wide one in all sections and would have been i much wider had not a sharp rally occurred in the afternoon trading on Friday 30 * report that a missile had been successfully launched by the United States.
in respon.c
That sent the aircrafts soaring and helped restore most of a big lass in other sections of the But the market closed market. slightly lower on Friday and was down sharply the week. The whole week was one of heavy selling and the daily
4,460,000 shorts on Friday, amounting to 3,115,142 shutes.
N.Y. COTTON
MARKET
REVIEW
New York, Oct. 13.
the determination of retailers, averunc volume, boosted by Cotton futures ended the manufacturers, converters and other intermediate distributors to avold carrying excessive in- ventories,
SETBACK?
Wipod Clean
week with minor net changes after a mid-week bulge carried the list to now highs for the move- ment.
110-
Specialty books were wiped Our Own Correspondent
elean, and new buy orders carav in in sufficient quantity to aboorb At Friday's close the Ust- Business done on the Hong- In print cloth yarn fabrics,
sentiment On Monday, the first trading
to the point where ruled up 3 to of 7 points, or 15 Stock Exchange this buyers limited purchases to
several market experts predicted cents higher to 35 cents a bale day after the Russion "Sputnik" kong
substantial rally for next lower than the preceding week. While positions. announcement stirred the world, morning amounted to approxi- immediate fill-in needa, ignor
Traders divided attention in the market dropped to lowest inately $200,000. Noon quota ing contrast
week the Dawtlons and the morning's trans-prices were quotably unchang-
1. levels of the year,
But non
Final looked for a long several directions: the in- ed, brokers admitted
fey belleve evening-up operations in the this Jones industrial average losing actions:
fluence of re-sales and the re-upturn, not
there might soon be another October delivery; 2. would be ne ish develop-9.28 points to close at 452.42.
port may have allowed for a incl ΠΟΙ bren ment which
setback, test of the lows, before a suf-expectedly tow government crop further possible crop reckoned with for the 1058
and the anticipation of an huelently strong base is formed to estimate: 3. The steep stock
stain
market plunge and a big rally. economic picture. What had
crease in hedge selling once
Report in Wall Street_said couragingly slow allows been considered a druh outlook
stocks resisted | Permi
weather The missile
favourable
Economy
fairly state,
picking and ginning to get into could be the market's downtrend Brmly Lombard
DOCKS. ETC. p
Kaits tonging tok. Whorl..
full stride. new business registering
three points. Even Eisenhower's nock ...... failure to give any overt pro- Pident (0) 11.00 that huppens.
14.00 Wall mise to incrense missile spend-LAND ETC.
lated to dampen trader K Land - 34% 34% Streeters feel that stocks easily ing
13.00 could move to new highs on in-interest in these stocks in suc-umphreyn
treding dealings. creased volume.
without any Turner into apart.
L
It
So far, however, high govern- ment officials
appear to taking n cautious attitude con- cerning any possible step up in missile and rocket spending.
Implications
Shkres Buyer Sellets BANKS
Sales
TIK Back .. 83245 East Asia.. INSURANCES
270
no
32
122
12
HK Hotel..
RUBBER
1223
Moreover, this year's
dicated crop, plus a carryover 15 4000 14.00 of 11,400,000 bajes, promised a meel 200 10.10 supply big enough to
domestic 100016
und foreign needs for nearly two years,
Ben- Agriculture Secretary 130 1500 1.25
son's proposal to remove 23.20 screage controls and mandatory pro- 100 99 price supports for corn
23*3.40
101
15.00 18.80
300
Amalg..... 1.52 150 1000 a 1525 An all-out government spend Trut being programme and the vast use UTILITIES pt raw materials that would Tram....
pro-Yumati
XD ensure in a giant missile
of course bec Light gramme would considered highly bullish.
Electric ..... Moco E. 10.40 Telephone 27.90 27.50
INDUSTRIALS
It would, at the same time, create some new problems for nation's economy, now Washington continues to em-the
selentitle
Cement and straining under the reins of an phasise the
right the anti-inflationary political implications of Russian moon and to minimise policy. its military advantages.
28
100 18.80 vided another selling incentive. 1900 10.70 Sellers thought similar plans
100427.00 500 37.70 might be pressed for a number of other commodities, although 700
observers thought the some 500
suggestions would meet strong with congressional opposition
271
27.40
***
500 a 16.30
1958 an election year-United Press.
the cis- demand
for that the government of Great textiles. Firinin
Spot October, where dealings ble reller uf Wils American securities, particularly expire in the noon hour olls and inetals, two groups hard Tuesday, rose to 34.87 cents a
on
hit during the week. These pound, the highest level since
reports could not be confirmed. July 22 and cumulative rise of 137 point-40.85 a. bale--from the law on September 3.
value
Support
of all
CROP ESTIMATE
The Government erop estimate
the
It was noted that the market met support at just the same level it did on Oclober 11, 1955, a short time alter the break on the Eisenhower heart attack. for 12,401,000 bales come fully The week's loss In paper 400,000 bales under expectations.
listed
issues Bullish impleations heightened $8,895,000,000. That with the rentisation that amounted brought the decline since July crop is particularly vulnerable 15. the day the Standard & Poors to an early frost this year. 500-stuck inlex set Its high, to Ginnings to October 1 amounted locon to unly 20 per cent of the crop, Actual $38.493.008,000,
percentage
Afterward, prices seitled back from the highs as traders reason- ed the anxiety of some milla to cut down on accumulating in- mdustrial Ventories maile it possible to The Dow-Jones
deals at con- negotiat "quiet" average closed the wick at]
cessious. 14.18, off 20,54
That polnite,
The
four 20-square lass for any was the widest 19.27 week since May 25, 1950 when at 174 conts a yard on spot, was print, quoted generally worried about;
Exchange Rates
27.40
money
ope
14.00 STORES, ETC. Dairy Xb 10.30 10
New Boom
1001040
B004 7030
But many think the Elsen- hower Administration will come under
100 $10.40
Watson
13.19 13.50
of
Anch Fome
110W
to
the strongest kind Spending of this type, in sei-
withinting off a new kind of boom, Texti..... 4.379 pressure from both
outside his own party for would add new inflationary ele-
action
offset ments into the economy so that MISCELLANEOUS
drastic measures then more tight money might be imposed INVESTMENTS
Yangtze eventually.
However, if the stimulus of HR & FE the Soviet satellite measure up to some Wall Street expecta- elapse tions, some time would before the inhallon got to the
COTTONS
Enter.
Bush was done in the local market this unofficial exchange morning at the following rates; U.S. dollar per
0.30
Sterling notes (per 1) Australian notes (per 1)
5.91 15.43
Allied
Invest.
9,80
ΠΟΥ,
"Sputnik".
Many look for possible cuts in ships, planes, and manpower, iq favour of ballistic missile Right
according to estimates, about 100,000 Inen
with are working en missiles expenditures running currently nt about $1,000,000,000, or about 14 per cent of budget expendi- lures for 1958. this sum may rise to more than $2 billion or
27.10
in dollars were a mere fraction the smallest of that on the basis of volume record. traded.
Dow-Jones
Indonesian plats (per 100) 13.03 the street was stam ca (per 100) Singapore (Viral)
1.Di light
A Bad Week For
point where it got out of hond with their asso-
cinted fuselage arsembly shops, have a combined length in ex- cess of one mile.
Almost half a mile of assem- bly line is concentrated in a single new building at Wey- bridge the largest of its kind in Europe.
Service
The Viscount has been sold to more countries than any other airliner of comparable size.
To date Viscounts have been erdered by 46 different operators En 31 countries, and deliverles have already been made to 23 different countries.
The total value, with spares, of the 374 Viscounts ordered to date is £143 million, of which £117 million is accounted for by overseas orders.
Deliveries
new
In the centre of the site of the Brussels 1958 World Fair, where some 3,000 workers are building the ultra-modern pavillions of some of the 51 exhibitor- nations, a strange steel structure will soon change almost 25 per cent. the skyline of the Belgian capital,
giant mushroom
Missile Plans
ΙΠ
brought new controls. that interval, the U.S. it is felt, could conceivably experience its greatest boom.
London
Market
London, Oct. 13.
There are not a few experts the who seem to think that overall effect of an expanded missile programme would have London markets found it a very bad wook, with the index of industrial shares tumbling from last week's 177.0 to a now fow of 1957 of 169.2.
Some
At present, it looks like 1 One of the first Industries to only a limited effect
economy. growing up feel the impact of a stepped-up side down. But when it takes missile programme would prob- dangers in the offing. ils final shape next autumn. ably be in electronics and this 350 feet high structure, to
of solid manufacturers
losses.
rocket
year.
Implications
Dr the
other
lower money,
yord
baske
on
copper reported at concessions of to prices, end talks of culbacks in cent a yard. Bids involving substantial quantities were re- sleel ana
other times some was the lowest closing Ogure ported us low as 17 cents
yard. since October 11, 1955.
The Torond average closed at 110.47 eft 0.19 and a new low September 30, 1954; utility, 05.00 off 1.00 and a new 1950; and low since October tire general average
al WOS 160.67 of 7.49 und a new low since March 21, 1955.
since
Calling for increased produc- on cutbacks as a step toward stabilising the market, kom quarters felt the present five- dny-three-shift basis should bo reduced even more and that "nothing less than four days in the present situation will do." United Press.
Wide Losses Higher priced shares recorded A
wide losses. The highest priced
was
Business
+
New High For Steel
This Year?
bulletin predicted today that world steel produc- tion will roach a' récord high this year.
The drop was 7.8 points. If we hazard. It knocked. 5/6 off the go back to October 1 when the price of Rolls-Royce and not of them E-Superior cll of that of Fords California — fel 160 points. be known as the "Atomium", fuels.
current strain may be said to penny' off will have the form of a cube
The Mahoning Coal Railroad that hava started, the fall was one Unilever also lost 5/-. This group points oul steel-and-plexi- Experts think that while the made of four
of down 37; Rohm & Hass, 39 points. Similar fnets- pasiton for buying shares an increased defence spending, with of 10.4 glass spheres
de-emphasis with a similar government's
implications, though inflationary
Forhaps not quite 80 chain stores and department points; International
Gulf 03 13% central sphere.
aircraft spending may cut into its
further commit the steep-have been reparted from stores on the profits they were Machines 10%; the electronics share of mill-would
bound to muke under inflation and Amerada 10.
A long list lost to points. The UN's monthly statistical
United Nations, Oct. 13. Each sphere will be connect-tary spending. new business Federal Reserve to its current other European markets,
restraint and
Wall Street's apparent loss of turned into passion for getting ed with the other four by steel developing from inisalles would policy of credit
Jost any confidence in the American out of them; Woolworths including Du Pont Youngstown;
Great
Armco Swee}, { probably more than offset such tight money, and offset tubes just under 10 feet across.
Universal Sheet and Tube, possible decline in business next
government's ability lo bend nearly 37-..
and Bath Iron Works, Clark Equip CORNER SPHERE
Cities Service, Hlaver Spencer 1/8. Associated Elec-ment, At present, it is estimated that By taking away this protec-off an approaching recession Stores 2/6 and Marka
bna proved contagious,
Magma Copper, slump British oll shares were the trical lost 3/6 while the future Industries, The spheres-and-tubes cube electronics get 48 per cent of the tion against a business
Liko National Lead, Seaboard New- next year, the economy might hardest hit of any, chiefly be-looking electronic concerns cost of a rullitary plane. ...
mont Mining and Corning Glass. will stand on a corner sphere,
find itself in a more vulnerable use the three lenders Royal Reyrolle and C. A. Parson tum- with three light external steel |
Despite the lock of definite position theh at present,--
Dutch, Shell Transport and, bied to new lows for the year. United Press. by the Department | United Press. supporting three other assurances
British Petroleum-had spread
Governmenta It- comer spheres on the 1,600-ton of Defence and President Eisen-
dismny by announcing their in- British
there cheap but structure.
buwer of any forthcoming in-
tentions of raising colossal sums mained very
just wis
enough bargain- crease in missile spending" up.
of new capital next year.
hunting to absorb much of the selling and their losses were mostly 1/4 or 1/8 sterling.
In the
Andre
70
Research
The now Secretary of Defence Neil H. McCelroy himself hinted as much as when he sold there will be more attention given to
evaluation research and misalle dato.
Bank of England
Statement
Royal Dutch
Bank Of France
Statement
The Bank
of ment for the week ended Oct, g. / British Petroleum lost 14/- to}amentod lost £ lost. All the 201,302,4211; Total D
During the Arst nine months of 1957 Viscounts have been pylons delivered to 10 different com-
Including ten panies, customers Hongkong Airways, Standard Oil Company of Call-
Designed by M. fornia, Lince Aerce Italiane, Waterkeyn, a young Brussels Philippine Air Lines, KL.M. | engineer, the Alamlum will re- Union
Burma Airways, produce the atomle lattice East Airlines, Indian pattern Middle
(that is, the arrange- Airlines Corporation, Lloydment of atoms in an elementary Acrco Colombiano and Transair.crystal) of iron, enlarged about
200 billion times.
The nine spheres, each feel across, represent the atoms recent Vircount 2013 in the crystal, while the tubular have been completed passages between the spheros within the 12 months porlod mbolise the electronic ties which can now be offered for which hold the atoms together Stock markot response to certain standard models.
within the crystal.
"Sputnik" appeared to bear out the new role that man-made This compares with a delivery
The Atomium, which will un- satellites, rockels and inter- period of around 24 months
be the spectacular continental ballistics will play in ef doubtedly during the earlier stagen.
AnEver=1 (Tho 11 highlight of the Brussels World defence thinking from here on. Viscount production.
On total, prices on the New Comedy, 9 Trouble, 4 Speech, 5 months delivery period would Exhibition, is meant to be a not apply, however, in the case graphic symbol of the Exhibi-York Stock Exchange tumbled Anger, 6 Stage, 7 Mime, of operators specifying modified tion's "central theme", namely, some 3,700,000,000
the Righteous, 9, Characters, 10, EK- period, Monday claim, 11 Expletive, 12 Funny! interior layouts, radio equipment building a more human world three-day
Hobart Morley. otc.)
Sone fracts
He pointed out also that some advance in defence spending is under consideration.
in the atomic era”-Router, through Wednesday.
over
The bulletin said that at the end of June, world production was running 4.5 million metric shead of Inst year's Agurce. The trend is expected to hold good during the secand hall of the year.
tons
state-the
deposits:
The UN publication noted ales that developments sinco Paris, Oct. 13.
end of World War II- of Franco during Royal Dutch shares
foreign bonds the
have Germany
Increased Dawes Loon lost £3ment for the week ended Oct. notably the resurgence of West.. the week lost 45/- to £16- German London, Oct. 13,
3, rezids as follows: 1037: low Was £15% while (nen - nasenia) while the
Total gold Holdinger currencies: steel production from 13 to 20 trane: 201.- Western Europe's share of total The Bank of England state-
WÉZD down n now low of 101 and Shell assenteda
V, 11,880,307,671: Night balance abroad per cent.
Advance to 615 EPU: 11,771,000,000;
From 1053 to 1955 nionę, the reads as follows:
thereabouts. Potash sterling: Transport 12/- to 1307, ils ar
Blabillation Fund: zero: Total buils Notes in
in circulation.
production lost discounted; ́non -unsetsled
paid, 1,979,200 300 4080; Dank bulletin percants 1,973,915,120; Pubile deporte: 35: 1937 tow was 153/-.
another £4. Japanese had a Dollar Blocks were
quiet notes in circulation: 3301.815,087.210: Western Europe increased from 901,000: Vivals deposits: 200,190.001;
கl
40 million to 57 million 1ờng - 209,443,003; Government nouurition: Other sectarities; 34,0 701: Raceipts: battered section withe-Shell Of week. The 1907s lust £114. Current accounts
347.430.677,568-Untied Press,
an increase of 49 per cent in a 20,303,098; Ratio: 9.4.Unlied Pr. and Standard Oil of New Jersey sterling, both parented and non-
period during which production falling 17 dollars" with Interamented; the scnted of the national Nickel and U.B. Steel 1930s lost 25. Greck bonds wer
where rose only 10 per cent. The U.S. alure of world pro... falling between -and 10 rather weak, downy as Izast 21.
RATES
duction has decreased from 14 dollars, Hudsons Bay fell 23/-} "One umurusi, tonturo of the
The Exchange Banks' Associato 38 per cent of the total since the exadous from to is new low of £17/8/8. · Week • WES
World War
Britain's If, and gola aitaros despite the old to announced this morning:
Fancy, maximum share is down from 10 to 8 per Bwies Industrials. tradition that when trouble
West German cent. Over the same period, comes, there's nothing like selling 76-5/16; industrial sector the gold. They all sudied selling. Deutschemarks, maxbroum" spli" | Kursio's share has ripen from 12
to. 18 per cent, United Press. WES completely hap- |---United Presz.
NAMESAKES
Ridicule,
2
In the
selling
15
ם:
AGREED MERCHANT
ing, 734.
7