Page
1
SCIENCE AND
ENGINEERING
TELEVISION AS
THE CHINA MAIL, MONDAY, DECEMBER 2, 1957.
TRADE and
..
COMMERCE SECTION
Week's Review Of The American Economy
YOU TRAVEL REACTION TO
ON THIS TRAIN
London.
The closed-circuit television service which was in- stalled a year ago in a train of the Scottish Region of British Railways has proved to be such a success that it has been decided to make it a permanent installation,
Passengers travelling In the, which installed in the carri- eight saloon conches of this train oge next to the sludio. are able to see television pro- #tramme relayed to them from the studio which is situated in the end section of the train,
The power for all the TV equipment is provided by ʼn Me- Lir EKVÄ generator
A "CAT-CRACKER" FOR S-E ASIA
The train was fitted up by British Hallways englacers in collaboration with Messrs Pyc Limited and the first run was made last September.
One of the most important selfentures of operating the ST- vice is that rettable electric power Nouree must be mnin- mained constantly to give an output of UKVA at 250 volts with a steady frequency of 50
ycles,
10
White Plains, NY. This is highly important
pleture pality is largely de- The first "eat cracker" in
pendent on such a supply. South-East Asin for pro order to achieve this a Melaren
lucing high octane gaso-GW set was installed. line was dedicated recept-
This
unit is manufactured
Limiteri by J. & H. McLaren
ly at its refinery nearof Leeds mid consists of a Petter Palembang, Sumatra by AVA? Iwin cylinder air-cooled Standarti - Vacuum 01 diesel engine coupled to a Brush
Company's Indonesian self-regulating Square Path"
affiliate.
alterunior.
The set is mounted The $8 million installation anti-vibration cushion will enables the 31-year-old the effects of shock when Stansae
on 201 to offset the
relery To produce train is travelling at high speeds, 6,140 barrels per day of high which are often in excess of 70
quality anti-knock Hasolinem.p.l.
Components by the Aung culaty-
fit ciucking process, using crude
Wall Street Business
Gets A Temporary
IKE'S ILLNESS
HONGKONG STOCK
• EXCHANGE
Case Of "The Jitters'
New York, Dec. 1.
American businessmen were generally divided in their assess- ment of the economic implication of President Eisenhower's third modical sotback in 26 months.
Some experts feel that the potential gap in leadership posed by the Pre- sident's cerebral attack last week might have serious repercussions on business confidence. This group
stressed
possible business hesitancy at all levels-from the factory, down to the retailer and the
consumer.
Our Own Correspondent
Business done on the Hong- kong Block Exchange this morning amounted to approxi- Noos quota- mately $168,000. tions and the morning's trans- actions wer;
BILATE
ANS
Buysts Belaru
HK Benk Fast Ada
"
045 654 270
INSURANCES
01,55 #1.70
Union
SHIPPING Whatlock
Humphreys
UTILITIES Tran Yaumati
..
Others, less pessimistic, emphasised that basic factors and other economic
considerations would carry most weight over the long-run, regardlessDOCKS.
K. Whar of the President's physical ups-and-downs. These experts generally..... insisted that the general trend of business will not be affected, that LAND, ETC. company plans for expansion and orders are usually made on long-te range commitments.
There was little doubt, how in defence ever, that news of Eisenhower itiness gave busies at least a temporary case of the jitters. The main last appeared to be
de-1 psychological, serving to press business sentiment, com- ing at a time when most of the Brussels, econraic barometers were tend- Belgian television viewers ing lover and when the U.S. was still somewhat *Currally surprise recently had a
The Russian preview of an invention sputniks. which may radically sim- plify the problems of air traffic jams at busy inter- national airports.
oli from: the Company NEW DEVICE FOR
Indonesian oltitelds,
Minister of Industry Inkiri; AIRPORT JAMS
colourful
wong officiated at a Indonesian ceremony at Sungei Geroni
the ultra- opening
modern proces unit, for which
ground was broken in Decem- ber, 1955
The catalytic unit is part of an $80 million expansion pVU- gramme of the company's opera- Tons that was developed with the support or the Indonesian government.
in the air within a radius of 100 kilometres.
have
The Belgian National Broad- During a 41⁄2 year period be-casting Corporation transmitted ginning la 1954 this programma) for two weeks dully test pictures Je providin facilites to help from Brussels airport of a cir maintain, at least temporarily, cular radar "map" of all aircraft the company's current rate of crude ell production in the face of a declining output from its Southern Sumatra Belds,
cone Now moduction will largely from extensive develop ment of netds in the Lirik area. WORLD'S LONGEST What is probably the world's longest heated pipchoe carry
the extremity viscous Lirik crude 90 miles to a river terminal, where it will be tankered an additional 475 illo to Sungei Gerong.
The
been
a
יר
دونا
117 119 $115
11.00 11.70
14-39 235
to
Balas
10 at 850
New York Stock Market Review
New York, Dec. 1.
Stocks gyrated through a 10% billion dollar arc during the past week and closed on Friday with a net gain of nearly four billion dollars on the basis of all listed shares.
The - market
plunged $5,123,000,000 on Tuesday
and next day advanced $5,425,000,000. It had a small gain on Monday and another one on Friday. There was no Thurs- day session because of celobra- llon of Thanksgiving Day.
on
President Elsenhower's illness, N.Y. COTTON
Tuesday's break hit hardest In the last 20 minutes of trading when volume ran at a rate of
an hour. hree million shares The last half hour produced $1,100,000 shares, # figure ex- eceded only three times sinco the exchange changed its hour to close at 3.30 p.m. in Septem- ber of 1952.
to
Cotton
MARKET
REVIEW
Now York, Doc. 1.
futures turned
Tower in irregularly holiday-shortened ・・wook after rising to seasonal high in the forepart of the period.
At Friday's close the general
The Wednesday recovery came list ruled 1 to 51 points-55 cents to $2.55 o bulc-lower than for the the preceding week.
Spot December closed the period at 36.10 cents a pound to show a cumulativo setback of $2.99 a bale from the season's high set on Monday.
339 on volume of more than three
million shares, trades four-day week amounted 12,316,030 shares, a daily uver- most Inge of 3,079,008 shares,
since the week ending an Out. 25 when the daily sales averaged 17.00 4.100,830.
120 130 11000 @ 131 1.75
21.70 22.00
Sperling-belg the government's new emphasis RUBBER counted on to give the "ngging, on licking deflation rather than economy a lift-would not be inflation will work. Over the abandoned, whatever the past two weeks, 11 of the 12 presidential health.
membor banks of the Federal Light XD 1746 11.50 reserve system were permitted Elecule
Tel. lower rediscount rates a move
INSURANCES timed at making more funds
Cement avallabic for credit.
STONES, ETC. Dalry Watcon
Some experts półn! out that Elsenhower's prestige with the business community had been on the wate for some months. His illness at a time of a pund- ing slump in business merely add to the overall loss of con- fidence, they assert.
Most further
300 0 34
20.30 25.00 20.10
360
24.40
18,20
....
12
L. CLOW
TONS
13.50 13.00
fot economists look
In the credit casing months ahead. But most agree | Textile that the decline in business will
1.30 4.00 0.03 $25
6.35 .+
continue at least through the INVESTMENTS"
X
After four days of stendy rise, This group insists that Con- stock prices plunged downward
gress, rather than Eisenhower, arst half of 1058. But rome the 20 dual minutes of trad-will set the pattern for business look for no great Improvement Ing on Tuesday when news of
the
President's occlusion reached Wall Street Avancial circles.
Using a French manufactured eketronie
"memory" device. Belgian technicfans
uzeooded in linking a radar picture of aircraft approaching and leaving Brussels airport to (17- nr 13-centimetre wittch)
television commercial screen on a closed cireuil,
The afferaft appear as bright of con- series spots inside a centre circles.
The experiment public
in expansion propamine transmission was made with the has progresscd steadily, and hus alm of checking the quality of
fictor helpful a
in the picture, and Civil Airways
they As the Belts sid that Indonesia's economy. Bargest Amerie enter-pris inery natished" with the result. the country, Stanvac operationa Cround approach controllers generated foreign exchange for at the Brussels airport can now Tudonesia in 1950 of approx flow the position of all il- mately $25 million.
craft within a distance of 100 The expansion programme kilometres on television sets in The normal will equip the company to con-bright daylight. tribute further to Indonesia's radar picture needs a darkened foreign exchange Lacome room for proper observation. high protuetion of premium grade vasoline and viher pro- ducts for distribution in South- Par Asia.
including Malaya, Thailand, South Viet-Nam, Dios and Cambodia
reformer
were
NEW SYSTEM 'The new television systera, witch operates on 625 fines, has other advantages too: the image
screen by cach
thrown on
New refinery process equip-aircraft dors not fade quickly meni inanced by this prog- us on normal radar screen, and successive signals can show stabiliser, a catalytic polymerite ale tracke controller at a glance in which direction the sation plant, a sulphuric acid
ramme
Include
:
the
39
Biggest
ex-
480-460 alea and a few qvon think the market might even get higher.
1
business over the next year of $0. Ain Democratic Congress therefore, possibly 1980.
could be counted on lo press for
unt!! 1959 аг
more liberal credit and spend- Big_Danger
A novel
measures
come
line
Liberal
900 10.20 3000 @ 12.20
| LONDON STOCK
mount.
MARKET
The 1951 total to dube in sales is creeping up toward the 1950 Lotal and if the pace continued will surpass that year.
Quick Recovery
and
Liquidation following the issuance of delivery notices, plus a moderate increase in the certificated stock, and anticipa- ion of heavy sales of the Gov- ernment
stock Surplus
combined
all
10 arrest previous rallying tendèncles.
Reluctance of traders to fol-
Considerable
On Friday, the government reported the mid-November cot- ton parity at 37.31 cents a pound, for middling inch cotton, up 25 points from October and com- pared with 25.81 cents a year mid-November.--United
The Press. 2.02
will
was down about the samo points from the intra-day high of 452.40. Market men expect resistance to the Royal Dutch fell 12/0 considerable despite a handrome earnings rise from here on but not a few
came out mid- of them feel the market report which
its traditional year-end British Petroleum nearly $74, rally. week-while Shell lost 6/--and have
Japanese dominated the for- seu sector. They were on the tape with unusual frequency,
Bank Of France. Statement
Paria, Dec. 1. The Bank of France stato- ment for the week anded Nov. 21, reads as followe
The market's quick recovery reflected the President's pro-low the market into higher gress toward recovery
aground (also reflected a. bellef beller that Congress will step up that the shortage of white cot- In too, which has been an imper- spending sharply next year defence Items and make little tant factor in
strengthening non-defence prices, will be greatly relieved any reduction In items.
by the sale out of the surplus Several favourable dividend stock. ing poilcies and possibly give
actions and good earnings for the economy nd the stock
a stock some companies plus market some new incentives, Unemployment is expected to
split for Zenith helped conti-
Commodity The lost half hour of trading
On Monday the of thinking mount to four million by the
London, Dec. 1.
ment. the
next year compared
Credit Corporation opened bids New York Stock developed in this connection tats middle
The markets had a quiet At the close on Friday, the for purchases out of the stock about 2 million at tho Exchango was the biggest since past week. Some say that it with
They held aloof Dow-Jones Industrial average for domestic use. At the week- time. Reall sales aro week. The second day of the Else would be a good thing for busi-present
That was up end the trade awaited news on zluggishness. from New York, where stood at $49,37. hower heart attack of 1955,
ness even it Eisenhower sub- showing signs of when the Dow-Jones industrial sequently yle.ded the Govern- Production and new orders are nowa of President Eisen-18 points on the week, UP outcome of the bids. Some quar- the close on ters relieved the sales would run 8.83 points from Vice-President slipping, with many plants nowhower's illness caused the Oct. 31, and average fell 31.80 points, widest mental reins
off 22.91 points close to a million bales. capacity. since 1929. diap
Nixon. Business, it was petated operating way below
moving Dow Jones average to full from a year ago.
The Government stock of Some $5.000.000.000 in market out, would be optimistic about Commodity prices are
The railroad average at 103.97 1960 loan cotton approximates 9.04 points on Tuesday and for no-lower, prices were lopped aft on Tues-Nixon, whose chances
as the week closed was up 0.51 3.200,000 bales of which a con- The industrial average mination and subsequent election Spending for new equipment to rise 10.69 points on day.
on the week, of 0.97 on the siderable percentage Includes falling by 9.04 points. However, to the presidency in 1980 would has eased off considerably. Eat- Wednesday.
month and off 47.72 points from types now in active demand the White House bullets be enhanced by his incumbency.mates are that American busi
Under the samo influence, a year ago. Utilities closed the Over the coming weeks, ali of Whether Nixon would be aute ness will spend seven per cent London moved down 1 point week at a new high since Sep-this cotton will be offered for became more encouraging tha!
to get the same measure of co- lees on now plants and equip and up 1 point, but business tember 19, at 87.73 up 0.63 point sale for unrestricted use at 105 night, Ute stage was set for a
The number of bar on the week up 0.98 point from per cent of the 1957 support market rebound on Wednesday operation on major legislative ment. Even personal income, at fell away.
ብና Eisenhower er neor peaks for months, is be- gains on Thursday was 9,048, the Oct. 31 close and up
1.31 level, plua moderate carrying when prices more than recover-
succeeded in getting, is strongly ginning to slip.
the lowest for any day this points from the level of u year charges, amounting to 25 points ed the previous day's losses.
Wall Streeters have been noubted. Demuerats till vankie
ago. Thus utilities stand out as for November and 15 points for sales have year. Department store December rise in from the hard-hitting criticism
Over the whole week, Bt-the market's best group in com- each additional month. year-ago visualising
market, a rise that has levelled at them with operations been turning below
levels for more than two months.tish Government stocks lost at parison with the 1956 figures. taken place in 32 of the pust bordering on "treason."
the
two-least 3/16 sterling.
The 65-stock average, up 1.90 Virtually That is
first such years as a year-end rally
ail closed at the lowest prices points on the week, had its best month lag since the recession
seen this year,
rise since July 12, the day the brought on by reinvestment
period of June-July 1954. interest and dividend receipts.
Blue chips Industrials were market reached its 1957 highs. Wall Streeters did not think As for Nixon himself, he has The blg danger is that bust-unexpecting. Rolls Royce quin- Some resistance was noted the market would be able to been making more Uberal-likeness decline will feed upon -ed 2/- in a class by itself when the average got above 460 age in breach the 440-level in the Dew-speeches of Inte and bus assum-self. Rising unemployment hurt while other well-known gues in industrials on Friday, Jones industrial average. Now ed a political role along more retail sales. A decline in sales were content with rises of Gd or Friday close that it has succeeded in doing stolesmanikka lines. He has causes cutbacks in output and losses of just that (i.closed at 440.03 on
out in favour of biking employment. Weines Juy) and barring un- foreign ald and recently he And the forecasts appear to foreseen troubles-market Boris now look for a try at the spoke in favour of extending be getting even gloomier, Busl- the reciprocal trade agreement. ness Week, for example, says that act which will expire next Juse the U.S. is already in a recess unless Congress acts favourably lon that will probably hit bottom somewhere in mid-1958. It looks on the measure.
--ས
mark stems for a drop in industrial activity A big question from whether Nixon would be next year of about eight per
non-assenteds on the Olls were the star perform-Total gold holdings The simple television receiver
able to ins the same measure cent, bolow the 10 per cent dc-
ns Eisen-cline in the 1953-54 recession.
1930s and the Tokyo 5 parers. They were aided by an im- is less bulky than a complete
of confidence such
The proved inventory position vents both gained £14. hower appeared to generate in radar set, and the image can be
EPU the 1924s followed Wall Street statements the group 1907s and transmitted
easily on a closed
in recent had counted
the same patlern, with the had been oversold Many circuit all over the airport. At
his various talks to the nation.
In the oils **ching Eisenhower's
steel basic
Industry non-Assenteds up £1 and the marketa Gains the moment, at Marlsbrock, the
much.
ronged to 5 points in Gulf, Bank Brussels international airport,
und speeches to restore some of the meanwhile appeared to be on-scenteds up nearly as
business confidence. the
German Dawes Leon gained Honolulu Oil, Seaboard, ebbing is limited reception
4 or more. controllers considemble expansion of ground
£1 and the assented £. The Texas Co. gained Whether Nixon's speeches along tering its slowest demand period approach
Phillips Kerr these lines or for that matter, three years. Steel buyers pre housing and other amenities for
and the meteorological office.
even. future Eisenhower talks keeping inventories at low levels Young Loan non-essented gain-Skelly, Shell, Imployees in the Palembang
The airport controller, sitting
would have the game soothing and are counting on fast do cl, but the assented was un- McGee, Atlantic. Refining, and
Potash
bonds, Barger were up 3 or more each. area has resulted from the ex-
iveries from the mills to keep changed. The in the control tower does, nut
Not a few nancial observers offect as
assented in the past
and non- Facilities
enjoyed pansion programine.
Aircrafts
Food receive the radar "mup. at the reduery site and in
"He Is concerned with the are convinced that prices would sidered somewhat problematical their operations humming. Acbeth
cording to Iron Age Magazine, assenteds, closed the week un
market with gains of 2 to more break again if he had a turn by experts generally. Palembang Include a $1,635.000
air traffe position on the actual
One of the major question metalworking weekly, steel mills changed.
But it is a market which is than 3 points in Douglas, Gen- Sumatra headquarters openext in
a senior airport official for the worse..
London, Dec. 1. toninae," September; 600 new homes; two explained, "ond to provide him Some economiats and financial marks these days is just whatre carrying heavier than usual
Inventorios of finished as well more obsessed with the distant erat Dynamics, Bendix.
The Bank of England state- ihiatres; a 34-bed increase in
with the television picture, expects insist on die other the consumer will do from here
Some think. Eisenhower's ts unfinished products. It may future than with anything else. Narth American Aviation, Du
Western Font rom more than 3 to foamant for the week andad Nov. to correct Some fear that the take well into 1050 hospital; a new which needs technical Inter-hand that the Tuesday price on the reДnery
ture its section. General Electria | 27, reads as follows: may prompt further
smail a mosque and a Christian pretation, might be confusing!"
Inventory drop was "nore hysterical thanliness
situation, It world is heading for a
and International Paper added all on the part of con- this
which caso a football field, and
Experiments in converting the realistic." They point out that caution
depresalon, In and make them less
An estimated 10,000 persons, í geris of a large measure of this selling sumars
unexpected probleme more than 3 in their depart Notes several schools.
conventional radar Image to a
was from the small and middle anxious to buy the many radios, or 20 per cent of the industry could suddenly emerge.--United onto
Motors were Irregular with Covertiment securities. REQUIREMENTS
larger and righter television
sizo investor who likes to dish television sets, houses and autos.
has work force, have been laid off Prost 11. F. Prioleau, president of seteen have been carried out in
caution Already some
since the beginning of the year, Standard-Vacuum, sald In White the United States, but this in and out of the maritet for a
by been noticed
Bureau of
Most of the layoffs have taken to be the Arst time quick and nominių profit. cracker" believed Plains the new "cal
Statistics hord Ewan and other refinery Improvements that television rets have been
big investors, The
like Labour used
"alk-you-down" for would help his company to
penalon funds, insurance com- Clague. He said he bad detect place since July-United Press, meet the steadily rising demand ground approach control at en panies and other Institutional cd "a certain amount of con- hesitancy in October for petroleum products in the international airport,
organisations were not overly
and pointed out that people U. 5. RAW COTTON The number of air passenger active in the unloading area cast of Burma. The Sungel
were not "as prosperous" ALE plant is the main
who pass through Brussels air-
A largo portion of the Tues they were a year ago, day sales were attributed to Stanvac source of supply in that port each year has doubled in
Latest government statistics Over half European holders who in turn appear to bear him out. region.
the past five years.
New York, Dec. 1. "Our requirements for petro-a million passengers checked in returned to the market as the Although the consumer price Taw cotton exports by dona
about leum products cost of Burma and out in 1938, and airlines news
the President's index in October falled to rise tination as reported in bales by in 1996 were 179.000 barrels per forecast that this Bgure may illness became moro, encourag for the first time in 13 months, the Now York Cotton Bachange day," he said, "They were only itself be doubled during the
Ing. When the market opened it was till 20 per cent higher for the 1957-68 season through on Wednesday. It' developed than # 01.000 barrels per day in 1960. Brussels World Fair next year.
630. year
Factory Nov. 20 were as follows: A
building that the market had been over- workers carned, an average of Foster Wheeler Co. built the
παν terminol "cat cracker and the Raymond complete with restaurants, shops spid and that buyers many of 65 cents a week less in October Britain 1. September, or all Orient Pila Co. provided and centrui hall is under conthem European-End meanwhile than Concreto
for it and other struction and should be ready recaptured some of their con-aorage of 74.78 weak, 25 OTNIĄ foundations
the World Fair Benco. procesa unita, for use when
cànts less than a year ago, Sungel Gerong
Another big question mark in Experts also emphasized last Chicago Bridge and Tron Co, opens on April 17 next your-
work that proposed "lyotpuami the U. 5. economy is Reuter supplied new tankego,
manufacturing unit and attend-aircraft is travelling. nut facilities costing more than Sa milion.
The first two large gas tur« hines In Asia outside Juan are installed
in the mue crocker."
These 3,000-horse power turbines burn refinery
'A
Geron
to
This doesn't necessarily mean there will not be a further isnt of the Oct. 22 lows, experts emphasise, It merely means, they point out, that the easier money trend simply postpones that test to somarlimu in January or February. Business confidence sentiment as well as investor are still considered sensitive to
L'wer's health.
Hysterical
sumer
011 Up"
The
is cor-
nolds,
Continent
Basic
EXPORT
Total for sedzorg Bame period put yone" wor
⚫luding intern
whether
The
Exchange Rates
local This
Business was done in the unomical exchange mit morning at the following rabes: U.B, dollar (per 1) sterling notes iper &1).. Auteiralan notes. (per indonesian rupiahs per 100) Sinta tical (per 100) Singappore (strate)
NAMESAKES
Answer: Armico, 2 Philip, Empire, 4 Luxurious, 6 Adio,
G Fatlog, Macedonian, a Victoria, Conquering.
"Alexander.
The Stars
д
Total other
rencie and Sight belanos abroad
and
Franc 201,304.303,423
11.847.025,830
11.371,000,000
zero
Advance to Stabling- tion Fund ** Total bill discounted 1,915,084,720,807
notes ciroulation
..... 3,106,625,140,190 Current #ccounts
and deposi
453,507,200,101 -United Proa.
Bank Of England Statement
Starling
to
circulation 2,001,448,500 Public deposi Private deposit.
230,418,672
61.329.421/
Chrysler un ascull amount, Puble securities
Recripts General Motors steady, and Ford | nato off. 2% points Etinneapolis Honeywell rose
8 In the
Unked Preme.
RATES
specials and gains of more than AGREED MERCHANT 7 were act by Zenith, Corning Northern and Great Glass, Paper. Leading siccia did little more than hold their own. United Press.
Canadian : Maximum Selling: 104; Mihiraum Buying: 17 T/T, 17 1/10 O/D. ¡
SHIP
BENDLINE