Page
SCIENCE AND ENGINEERING
THE CHINA MAIL. MONDAY, NOVEMBER 18, 1957.
TRADE and
Pare
COMMERCE SECTION
REVIEW OF WEEK'S BUSINESS IN AMERICA
New Steel Sections Spotlight Shifts To Auto Industry
For Construction
London. New Government Move To
New steel sections designed to give greater strength for less weight and make appreciable reductions in fabricating costs will available next year.
Possibilities
of MUD
As Chicken
Two
Feed!
London.
laboratories
be
A new mili designed for roll- lng n new and wide range ef efle.ent bcums And co.uk scations is nearing comple.iun. A range of universal beams varying from 36" deep with 16" wide farges to " deep
will with 0" wide anges Induced.
شارة
This is part of a £80 million
scheme.
The Developmeal universi mi is e stp £1 mon and the adja fng sect
+18T
l, completed in 1953, enst
million. The
upply of rolls to ever he rew marge of beum ord column It be produced est Fives
in 1.000.000.
Britain are analysing cent in efficiency over (
mud from
An increase of up to 16 per East present standard bem wil he Africa's Lake Vic-ffered by the universal brains, he manufacturers state. There toria, the third-largest win be avail: bic beam sizes
freshwater lake in the rumber of
Meavier weights and
world, which has been strengths. found to be 0
nutritious food for
pigs and poultry.
The
large. having propter
Direct Rolling
Plan fattened on the mud, insure, the moneters state, pies of expensive
meat meal thereby voking and killed at the Upland Bacon have ben] Factory in Kenya. terled and found, of Grade A. quality.
Specialists at the laboraturies out the in Britain are ind kind of proteins in the mud and how much and how many anti- Linties and vitamins i containa. Rals bred at the laboratories are to be used in the experi- ments to see whether, like the pigs of Kenya, they thrive the mud diet.
Trials
on
Ease Credit Relaxes Anti-Inflationary Policy
By JOHN MORKA
New York, Nov. 16.
The business spotlight shifted temporarily from "Sputniks" and "Mutiniks" and focussed on the Bellwether auto industry and on a new Government move relaxing its anti-inflationary policy by casing credit.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock Exchange 131: morning amounted to approx. mately $250,000, Noon quai-
ns and the morning's trans-
Sellons:
in a surprise move, the Federal Reserve Board reduced its discount rate
reserve banks in New York,.. Trom 3% per cent to 3 per cent at Atlanta, Kichmond and St Louis. The other eight member banks are expected to follow although the Board did not indicate whether they would do so. The 3 per cent redis. count rate-the rate charged on loans to member banks-had been in effect since August.
Top
It
epicity, the lowest in about 14, Estimates are that such spend- economists old he cut
contrast to ing should show auther rise in sharp months, in the Fate Indicated it in
October ranging from $3,000 million to futiny
tarker hopes that the pressures.
would be $4,000 million next year, and November rates WA! economy had erned. interpreted also as an indication about in the range of 5 or
per cent of espreity # the bon is endes and busine activity that begun to show down on a wide
funt.
31 6 8
01:
The move is expected to ease
credit the pressure 4211
lead to a reduction o possibly interest retes-now at 24-year highs.
iversal botm 15 rhaped by direct rolling pres
Although steel output bas wecks, the laulis
been slipping la recent
balies, gow、ve, there a Di increet shaping. The uni-
thut 1957 might vers m. rolling un.t
indications Sun-
shape, up as one of the best for mi sists of a four-roll or
The the industry.
American sind with u two-high sup-
Institute this plementary stand in line with
on and Steel
production week disclosed that and as close to the main stand
of ingola and steel for castings as possible.
during the first 10 months set a new all-time record at 96.899,- 075 tons or more than 3,000,000 tons above that for the same period la 1050.
liorizontal and vertical rolls are adjusted between passes and
In the Thickness of reduction both web and large takes place In the main stand.
The sup plementary stand has two rolls unly and works the edges of and the Banges, aquaring up controlling their length.
In the main stand the setting vertical and horizontal
of the of
Ho
on
The experimur in Kenya has been made at the pig farm Commander George Cole, has 200 pigs on his farm South Kinankop. 9,000 feet above sea level.
Commander Cole mixed the mud with the Lake Victoria
and found pig normal diet, they liked it. His records show- ed that the pigs fed en the mud mixture were gaining weight as well as the pigs that were fel on their usual diet.
o
ruils for each separate pass is arranged so that the elongation of the web and the fange is controlled with precision, ensur- ing that all parts of the section being rolled clongate equally,
hus uvolding rolling stresses.
No Difficulty
Д
Net Effect
The net effect will be to give the economy another psycholo- gleol boost and buoy business confidence.
Meanwhile, economists were watch on the keeping a close auto industry which has staked s me $1 500 000.080 on retooling for the 1958 models now rolling ol assembly Haus in increasing
umbers.
i
Housing
non Wheelock Khar
Balan
Shares
Buyers BeBarS
850
East Asia ESLUHANCES SHIPPING
270
71
4.03
5.33
JOCKS, ETC.
Dock
LAND. ETC.
HR Hotel.. ik Land Tram UTILITIES vaunt"
DO1 3234 1415 14.70 337
400+ 1.05
2004 51
94
Light (0) 18.30
C. Light (N) 17.30 17.70
Flestrie TH.
300 18.40 500 17.40
50 17.40
100 er 25.30
10 25
300 23.DO
INDUSTRIALS
Winteon
London Stock Market Seven Per Cent Bank Rate Is "Un-English"
London, Nov. 16.
Weekly markets: that seven per cent bank rate is slowly becoming the villain of the piece, too high, too crude, to correct the delicate imbalance of Britain's long-suffering economy. Chief feature of the stock market's week was the spreading of the conviction that bank rate will shortly be lowered.
Lowered like bank rates in j British government's clused America. Seven per cent is unwith some handsome gains. Wer English.
Launs enjoyed a rise of 7 skill-
Perhaps the common or gar-gs 0 pence and old consols one
ef 5 shillings-United Press, 500 334ten investor was not much affected by all this argument but there professionals who have been selling the market shrot
were disconcerted and rushed to Cover their short sales.
This resulted in a sharp r*-
market.
100 125 covery this week-a joyless bull
375 0 16 340312 20
10
12.20
3000
13.70
L. Craw COTTONS Texule INVESTMENTS Allied
4.43
.....75
As ter housing. opinion Commit appears to be divided. Some STORES, ETC. see little chance of any rke over the Ukely 1957 tolal of 975.000 private housing starts, Others more hopeful that mortgage money might be easier and less expensive, talk of a gain rang- ing cs high as 100.000 units.
Others
are keeping a close watch on Inventories. Inventory accumulation by buisness (m: slowed in September, reflecting manu- "zome liquidation by
Rettres in reponse te tar seasonally On capacity business. c: mpared with 101.3 per contdjusted basis, stacks Increased fer he same month a year only $100 million or abcu: E IAL.. vi - Brig. previous.
months this year.
The hope is that if cconemle continues at o activity
fairly steady galt, ventories may remain fairly steady at recent levels.
month During the
October, however, output was at the rate of 81.1 per cent of
Index Climbs
Another
factor which could
current business
Rolls Royce was a conspicuous 1236eneßciary of this hasty buying
New York Cotton Market
New York, Nov. 16. 250 with a re of shillings Cotton figures this week.
300 13.70 the week. Chain
New York Stock Market
New York, Nov. 16.
stores were
extraneinarily active with rises of 2 shillings or more on buying Jby those who were pessimistic about the Fovernment's ability to control Inflation.
2
moved higher, along what became virtually
a one-way street. Closing On higher ground Leading tobaccos gained
Bessions. shillings while other blue chips through five straight
the list at Friday's close showed riscs-Vickers, joyed similar
a cumulative gain of 32 to 103 ssociated Electric, Unilever, Imperial Chemicals, all well un palats 17.70 to 5.25 a bele with the preceding n the week though not on the compared
week.
year.
Oscillating
Basle influences bebinā the rise cited included:
1. A gradually dimming pro- dis-spect for an adequate supply of
Os had a thoroughly orderly week for the market inspinnable cotton from the 'hese expensive shares has bo- current rain-frost-damaged crop.
A healthy auto industry could give the sagging 0.9. economy big lift. It could trigger a
The industry, meanwhile, another prospect of cu action affecting nillion faces the of jets and dozens of major price increase in January, when
every thousands will get another four-temper, the Industries. One out of
2. Revised estimates putting seven workers is said to
cent-an-hour wage boost under letdown is a pickup in exports. A roaring anish on Friday come very thin; hailed only In the escalator clauses of wage While the industry
exports during August enabled the stock marketew months ago as the world's
safest long-form Investment, probable loan entries this year dependent on
or other. Fourteen pects.
were about nine per cunt higher
to finish the week on they shake like a leaf today if at upwards of 0,000,000 balcs. one way cents oul of every consumer These are tied to the cost of than the year-ago level, they
higher note. Collar goes for autos. And the living index which has been were down one per cent trun This westhe fifth suc- industry consumes about 24 per climbing steadily over the past July.
The robust rally in the anal cent of the nation's total steel 14 months. The industry raised cessive month of decline output, about 14 per cent of 15s prices $8 a ton last summer the high in March. rickel. a big chunk of 15 following a 20 per cent an hour
cent of lis rubber, 36 per racius, among other items,
Million Units
Encouraging
news
3. Prospects for a continua- alltion of
government price sup-
anybody says "Boo"
After oscillating violently
from
sion was Wall Street's vigor-week, Royal Dutch closed with ports through the 1958 crop.
All u welcome to the Federal Roa rise of three-sixteenths sterl
current crop deliverles Current rose to seasonal highs. Jarve Board's Arst reduction in ing, Conndian Eagles with one
of 2 shillings while others, like December contracts reached the 1:he discount rate since 1934.
The easier money
and
Shelf
on the board since mid-March,
For
forward 1959 deliveries
on the advance,
a
legislation will. lience.
polles, de- British Petroleum signed to help spur the nation's showed losses of between 1 and 30% cent in the highest price
enemy, brought heavy buying shillings. Suez Canal enjoy- 1958. to the market. The result was du rise of $24 to £42%, but the second sharpest advance of it is still valued at only a half
measure
o age.
Seme
experts
Losses
price,
There are no closed passes to cause difficulties due to Danges the rolls und the Commander Cole increased the sticking in
dange Taper can, therefore, be amount of mud to ten per cent of the pigs' food and sul they mall. The produgin beams with wide anges, with little or thrived.
Increase. With demand wage Finally, the amount was in-no flange taper and thin webs, possible in this mill. The
lagging of late, there is now a creased to 20 per cent Lake mud s
Elsewhere, the great deal of uncertainty as to to eighly per rest normal, but fange taper is in fact one In
was twenty (2 degices, 52 minutes).
whether another price riso is more encouraging. The slump- expensive, pl; food.
Sawing to length, either
possible.
ing stock market-some $10,000 Five of the pigs thus fattened
culting, is
Thus, it is reasoned, a pro- or skew square were
Meanwhile, pressure is million in valuations were lost with Late Victoria mu:d
go Q service which will be available
sperous auto year could then kiited at Uplonds Bacon
offsetting the mounting to raise the National since July 12-oppears to have the year in the industrial aver- of its old pre-nationalisation developed irregular tendencies way in long at the mill. course
а limit of $275,000 million regained After the 131 Factory in Kenya,
Equipment is to be installed to
expected seven per cent drop in Debt
to step up the U.S.equitibrium. came
Gold shares-regarded as test, four of them
busines outlays for new plants in order split beams through the web to
ffort in missiles and rockets. think that the worst of the Grade A. and one Grade D
socond refuge in this sort of Lake form large tees walch will be
and equipment in 1958,
Soviet satellites, recent bear market is over, but It is now hoped that
world were strong with rises Industry experts are hoping The
by the Democratic course that is the $04 question Victoria mud will take the place straightened in special machines
Friday's gains more then off of up to 5 shillings. to sell at least 6.2 million units victories
the administration might ask concern aboul the these days.
suffered in the
Japanese, both assented and of meat meat which is the most betere dispatch.
Congress approve sharply trend of business arc expensive element in pig-feed- The prezen: intention is to next year. The more optimistic Party and
sessions. The Some observers point out that set the losses
non-astenter, were the strongest higher payments to farmers in toll the 41 different sizes beam
are selling their sights on about lower ing, and will thus reduee
was practically market
un-section in the whole market with 1959 for land deposited in the Sections and thu
This group boses expected to pave the way despite the recent market sell-ree preceding 27 colum 7.0 million. price of bacon and pork.
their hopes on two factors. They increasing government spending. off many leading issues are now svellous,
several rises of £4 and one of long-term conservation part of changed on Monday. selling 40, 50 and even 60 per
£214 in the non-assenteds, Ger- the soil, bank programme. that of the universal gure The details
about 2,000,000 of
Market, experts sald the caster buyers. In
cent below recent highs.
Row cotton exports for the beums and their applications the 7.2 million car
man Potash Boede rose £1 but were given in a paper presented 1955 will be in the market for
the lowes and Young Loans both season to November 12, as re- Both assented and ported by the New York Cotton foll 14. British Institution of
non-Assented.
Exchange, totalled 1,356,698 Structural Engineers.
boles ∙compared with 1,707,703 balas shipped at the same time lest season United Prosa.
How It Began
the
The idea that mud from the
Victoria might bed of Lake make good pig or poultry food camo from the Director of the East African Fisheries Research Organisation at Jinja, Uganda, Mr R.SA. Beauchamp.
dis-
Ile and his scientists covered that the Lake bed is feet deep in mud containing the ae- cumulated richness of thousandu of years but the plants which bad dice to create this had not decomposed completely.
rich
п
While the water of the Lake was infertile for lack of nutri- ents, the Lake mud was with organic matter.
Mr Beauchamp called in scientist Dr PR. Hesse-from another High Commission ser- vice, the East Agriculture and Forestry Research Organisation at Muguga, near Nalrobl—to ex- periment with the mud.
to
Revolution
In Crop Spraying
Nowcomers to the Smith- field Show this year, Décombor 2-6, will bo exhibiting what is claim-
the new models.
Output
10
new
Missiles
on
for
leaders than
next
Fears
o?
Dollor stocks enjoyed a pro inlum of 10% per cent compared ang market paychology.
Aircraft slocks featured
on with 'per cent last week. with this week,
1214 poluts, the up side United jumping Douglas 5 and Bocing and Gen- oral Dynamles
612h.
Standard Oil (New Jersey) was the most active issue thi
Boeing, followed by
General Steel, Bethleheni
With prices lower, ylelds money policy, coupled with the become more favourable. More outlook for a sharp increase in defence spending and a possible Some government
300 stocks on the New
urn to deficit spending, in Secondly, with personal in-
highs, have estimated that the Increase York Sicck Exchange are said ceter an intiutionary note into at all-time come
WIET
amount to about $1,000. to be yielding 7 per cent, with consumers do not appear to be
$2,000,000,000 buying. 000,000 or
rails on average paying ΠΟΣΕ cutting down on their
00:0 year.
than 8 per cent. About 60 per cent of all
made on the are
Also on the plus side was the purchases
President Elsenhower, in his Instalment plan. Cars, as usual,
"chins up" speech in sport showing that companies to consccord
3 4.03 more are being counted on
Oklahoma yesterday. Implied listed on the New York Stock tribute the largest part of the
that a tax cut next year would Exchange paid $0,369,939,130 in rise in irstalment buying.
out of the question and common stock dividends in the
Some of the better gainers in- Estimates are that the instal-be
cluded American Home Producis nival debt for 1957 Will prob-emphasised that defence sperd-first nine months of 1957,
very increase "by a
up 7: Addressograph-Multigraph ably excrc 542,000 million, ing must
up a International Business or a rise of about $2,500 million considerable figure".
The Federal Budget sent to
The figure is 0.4 per cent over Machines up 6; Consolidated on the year.
Congress called for defence payments in the similar periodectro-Dynamics up 5%; and
current and marks the first time spending during the
that National Lead up 4%. Magna dividends fiscal year ending next June 30 e-month
topped Copper countered with a loss of Investors ham-42% Izanwhile, auto sales, which at $38 030,000,000. It now locks, $6,000,000,000,
of the mered down market prices in cd to be a "rovolutionary have been dragging this autumn, however, that in view
cmphasis be picking up.
missile recent months mainly on fears. type of crop spraying appear
will of
and lowerweck, low dividends development that target week by Production rose last equipment".
cent some 10 per
and now not be met. In his first talk to corporate incomes.
October 30 nation on
Meanwhile, as the year-end; The Arm stules that these shows a small gain over a year the Dr Hesse, a soil chemist, col-machines are now being used to
The weekly Dow-Jones nyer- aco. Passenger car output is President Elsenhower Indicated approaches, business is count. Dynamics and General Motors. lected the mud during voyages tackle problems in most of the about eight per cent higher than that the $38,000,000,000 ceiling ing on a big holiday buying ages showed industrials up 5.23 in 1950, The best news was may be exceeded by more than season this Christmas. Retailers at 439.35; rally off 0.52 at 106.67:
biggest expect The two principal machines
the spurt in sales over the past $400 million.
buying utilitter up 1.04 at 65.89; and 65 at 147.09. In is that splurge this year with average stocks up 1.38 on show will be an
Now the expectation orchard three weeks, overcoming
the recent cut in military erdere spending some 7 per cent over Friday's session alone, the in- sprayer, suitable for mounti earlier dip.
be crrested, with the 1056. on the hydraulic
plagued may lift of 姐
rose 11.41 Inventories, which
Justrial average programme potting tractor, or afted with stub axles,
Gales increases up to 30 per points, making up a loss of B.18 | the industry throughout most of missiles
cuit were forecast in some
In the wheels and drawbar for use as 1050 when unsold stocks soared more attention.
- Inasmuch 49 Federal pur- ja trailer,
to well over 000,000, tre con-
lances, with soft goods depert-points suffered earlier
week. gues themselves tasted the mud In many territories it ԱՅ
sidered in better shape this chases of goods and services for ments singled out to make the
Of the 1,411 leues traded this and found it good, and to prove mounted in the back of the year. Present stocks are placed national defence now acount for biggest percentage gains
week, 702 issues advanced, 511 their theory that it would, be truck or Jeep and the beam of at 500,000 units,
held un- considered about 10 per cent of the U.S. Last year.
declined and 198 Sportswear was the most fre changed. New highs were set by sultable for pig er poultry food the spray is directed by either manageable, despite some signa gross national product, any in- they gave supplies to Com-the tractor driver or a separate of price realstance from buyers. crease in this category should quently mentioned merchandise. 7 stocks and new lows by 204--
some of the logis hard goods, toys, furnitureUnited Press. mander Cole to test on his pig operator.
Meanwhile the industry con- help offset
and appliances are expected to farm.
The other machine is a fully tinues its cautious policy about elsewhere,
In addition to watching the chalk up the biggest gains. Discussing the success of the autematte version of this spray-laying in new supplies of Beel. experiment, Mr Beauchamper. The manual direction of the Car makers are said to be more pace of government spending as United Press.
d: "It shows that pigs receiv-outlet of this machine has been cautious than
posalble cushion against on ever the past a
steal economic With
dip, exports are ing the mud ration grow at al-eliminated and it has two out-three
planned outlays by most the same rate as pige nor lets which may be fixed on plentiful, they appear to be in scanning
no mood for expanding current munielpal and Slole agencies mally fed, I am hoping further frame.
why done in the local mud may itin
to Inventories, pending a further and redential construction. experiments
This machine is claimed
Answer:-1 Attack, 2 Rearing at the folowing ralen=" public's can be substituted for meat meal, have proved excellent in the assessment of the
Spending by State and local governments has been inarenz-feron, 3 Swansea, 4 VBIR. 4 D.H. dollar per #1) the most expensive element in treatment of such crops DS reaction to the new models,
coffee, hops and small 'op fruit, Steel production has pig-fonding."
shown Ing almost $8,000 million a year Football, 0 Ground, 7 Cordit, & Sterling notes. (per #1)
Indonesian result, over the last ve years, with Coole, 9 Forward, 10 Sunder- Australia otet (pat R2100) Shoulder mounted and trolley algns of legging a
Stam ileal (per 100) mounted models will also be on Steel production this week was capital outlays running it more land.
annually. Trevor Ford.
Bingapore titraits) show,
estimated at 77.5 per cent of thân $12,000" million
in
in the Fisheries Organisation's | world's major economie crops. 200-horse-power Inuncit, and sulphates, found it rich nitrogen and other plant nutri- ents. He bolled and dried the mud to malce it decompose and
so release its nourishment.
Mr Beauchamp and his collen-
Just how the mud nourishes the pigs will be analysed at the laboratorios in Britain.
17
усага
an
the
NAMESAKES
over
Exchange Rates
Business UKABIL
market ther
reflecting un- certainties over what form farm take a year
Trade reports suggested that
SHIP
to
BENOLINE
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