་
SCIENCE AND
THE CHINA MAIL,
MONDAY, JUNE 9, 1958.
Weekly Survey On American Economy
Fare 9
ENGINEERING Experts Look For INFLATION THREE-DIMENSIONAL Truly Serious Threat HONGKONG Market Rises
RADAR SYSTEM
FOR ROYAL NAVY BRITAIN'S Royal Navy
has 籍 "three
dimensional" radar system far in advance of that in service anywhere in the world.
cally uperaled
chart, and produces it on request
screen actual radar weapons controller.
also
on the the
After
STOCK To New
Recession Disappears EXCHANGE
New York, June 8.
More and more, as the U.S. economy continues its gradual improvement, the experts are looking ahead to what they
contend has been the truly serious threat all along
tion..
Admiral of the Fleet Earl Mounibalten, the First Sea Lord, who said this in a London the speech, was referring 16
On the basis of these observa- cambination of Type 934 radar
the weapons controller and its comprehensive display ons system, which is now installed selects his target and presses ‘a
Employment stands at 93 per and in operation in the alreraft | bulion which controls-a particu-
"The real job of stepping | or lar ground precision radar, carrier, Viclorious,
unit. Interception radan
Inflation, after the recession is cent and the gross national pro- at an annual automatically pointing er is way out, remalus to be duct is running [thereby
done in face of political pres-rate of $422 billion.
All of these factors have pro- the preet lon redar unit at the
world-wide #+ch I target. As soon as the precision
inclination toward monetary duced optimism, but realistic Says Forlunc sold ralar has acquired He target the
the optimism. carried out fully eight of hand,"
magazine Banking, Journal of Magazine's business roundup:
"It will take a while for the the American Bankers Associa-
forces of recovery to gain reul tion.
strength. But when they do, the subsequent upturn in the latter months of the year may prove surprisingly sharp."
The new system gives general oir long-range warning of the op- proach of enemy aircraft, with and nccurate ranges, bearing height data for dispositioning interceptor aircraft. POSSIBILITY
The system is designed fo that it can not only handle the
automatically..
possibility of attack by super- MARINE RADAR
sonic bombers, but
ran also be
adapted for use in detecting and eventuaity counterles
long-SIMULATORS
range enemy milles travelling at speeds of ten, or eighteen, thousand miles an hour.
rudur; scrondly. radar; and thirdly, rodar.
The operations TOOM is nervo centre where al
London
This equipment, under the direction of a controller, allows the student navigator to perform tactical and collision-avoidance radar, entirely by exercises. within the training school. light around each aircraft, or COASTLINES
Hemily place
nasile, as soon
as it appears. Andar
The operator pressen
evidence
of
various
a button types of ships, aircraft, coast-
and the ring encircling the airlines and axed objects can be craft trace fades away to leave
Surv
hot and cold
Samo Position
Stimulato
which
Our Own Correspondent
Busincra dono on the Hong- เฟ Stock kong,
Exchange
to appro
morning amounted
Year's High
New York, Jung 8.
week in n rise that restored more than infla-ximately $430,000. Noon quota-Stacks surged to new highs for the year this past
$2,600,000,000 to market valuations.
COST OF LIVING DECLINES
tions and the morning's trans- actions were;
Shares
DANKS
HK Bank
nuyers Rellers
.. 777.50
Rajes
BGA TE
INSURANCES Union
..... 7.50 72.50
SHIPPING Waterboal Asia Nav Wheelock
K. Whart
consumer Dock
The stock market now has allied shares reflected a sharp in- risen more than $20 billion from crease in construction-activity. set in Ofis rose on a better inventory 10 7770 Its lows for the year
and favourable com- Industrial picture $7.00 February for the 3077750 shares and in the first session of ents from the analysts.
The
-13 760 the year for De railroad and tyre Industry again responded
7553
►
1275
11.20 0.30 2000
1.23
ČAON DE 025
201
Ottawa, June 8, Spurred by lower food prices,
Conada's cost of livingDOCKS. ETC yougo - the price indox dropped 1 vident to 125.5 by May 1, the LAND, ETC. Bureau of Statistics said today.
utility groups.
The industrial average, rising
to a good replacement demand (or that item.
Of the 1,425 issues traded last advanced, 481 de- in four out of the Bve sessions, week, ato finished the week at a new high felitied and 144 held unchanged. Uullues New highs were set by 320 sheo Sept. 10, 1957. finished at new top since Oct. 8. stocks and now lown by only 19. 1930. Nalia L #
new high-U.P.I. since Oct. 18, 1957 on Thurs- 12.30 12.00 1900 @ 1230) day but backed down on Friday
In the face of profi-taking.
4132 42
HK Hotel.. 20.00 21.10 300 6
200
21
UK Land Humphreys tealty
34 2300 33%
13.30 15.70
1.23 1.673 20000 e
1.85
RUBBER
Amalg
1.40 1.65
1.50 1.375
A. Tawah
1824
1.00
UTILITIES
20 26.50 2500 20
300 a 20.10
NOO 20.10
400 50
in shelter, clothing and other C. Light commodities and services.
Electric
- בנ1
טני
17.50 17.90
29.30 23.50
27.40 27.00
"Inflaton has never been a greater threat than now since the currencies of the world were
It is this possibly eut practically adrift from gold and tied to the vagaries of poll-
worries the Inflation-cautious ties," said the magazine. "With economists. Except for the The three types of radar used tors, which can be used danger has steadily increased."ly have been saving money in
an early
banks and bonds, riding out the ore. first,
warning for the shore training of
The decline brought to a halt recession Lactical
Or they have been liquidating a succession of increases in it. a precision navigating officers, are being
demonstrated
shorp Orst four months of the year. Thus, should The same position was taken debts: theby two electrical manufacy 14 executives who replied upturn come, there might be a The new index, however, was
demand by well above the May, 1957, figure ungala these turers-Ultra Electric and to a questionnaire on economie Budden concerted
causing in-of 121.1. conditions sent out by the U.S. buyers for goods, three main types of radar meet.Redifon.
The drop in the food index, Train The first task that is carried out
Senate Finance Commitice. The flation.
America's money supply stands combined with a decrease in the every
sald thai here the marking of
today's the
executives
at a new peak of 220.4 billion. household operations component, Star Ferry aircraft which appears on
than oksel Increases Yaumali business ills were caused by past tactical control Indar screen. small
Inflationary excesses, and wam-Of this, 27.6 billion is outside more This is carried out by
ed that inflation poses a serious banks, 107.2 billion in demand who operators teams of two
threat to the economy in the deposits, 02.4 in time deposits
The food index fell to 122.7 Macao E... A small ring of
future.
executives sald and 1.2 in postal savings. These
from 123.4 a month earlier. Tel. that therefore they oppose
Lower prices for eggs, potatos
combined drustic Government steps to spur
with Argues the magazine Banking; and sugar, business revival, since they be
"Any tax cut for Individuals smaller decreases for some im- Hleve such an artifcial spurt in
fresh consumer ported
vegetables, INDUSTRIALS
Cement could result only in would not stimulate
.coffee, spending, but would simply flow oranges,
processed most harmful inflation.
and evaporated milk, into savings....and would cause cheese there have been a big federal deficit.
Such awere the principal factors in the STORES, ETC. For werks predictions that the bottom of defleit might wenken U.S. inter-decrease.-V.P.I. at hand, and national prestige because of the the recession is that the slow process of recovery dollars position of leadership in economy would begin
Statistics a shoky world lead to back threatened by inflation." this past week
Dr Marcus Nadler, Professor that view,
The end of the French Gov-Nanyang Finance at Now York Steel scrap prices rose shincply. Univeristy, warns that "large cement crisis and optinism re-
intervention
thegarding General de Gaulle's MISCELLANEOUS as much as $ a ton in Chicago sente
efforts to restore the position HK Const 3.73
INVESTMENTS and $3 ton in Pittsburgh. Mill Government with a federal, de-
a caused
heavy Yorglaze slump in gold prices early in Aled at 58,1 per cent of capacity, 11 revive the fear of inflation.... operations the week before were fleit of sio bullion or more, could Algeria
the spiral of the week ended June 6-China 10C & F points better than April low. I would renew
prices and lay the Mull Special. Last week's output was 1,507,000 wages and lons, 44,000 tons over the preced-foundation for a much sharper Ing week and even better than recession later on."
1958
nt the previous
high
That 15 the position of 1,538,000 tons in mid-January-President Elsenhower's ark- Last week's predicted output ministration, which decided was for another, new high of against lax cuts.-UP.I. 1,841,000 tons, best since last Dee. 18
presented by
artificially
a bright dot which from then on generated radar signals control-business marks the aircraft an one that has been inbelled,
led by an instructor, who may conlltally changing impose a series of navigational situations, which must be interpreted by the student operator,
The pressing of the button to label the aircraft simultaneously etters the aircraft in the elec- The register.
In turn, the operator will call tronle brain's
the for the necessary alternations of then predicts computer
of the aircraft. course and speed, behaving in futura actions Any divergence between the all respects as if he stood before and the the rudar screen of a seaborne computer's predictions actual movement of the alrcraft vessel. can be seen by the divergence of the marker dot and the real
the shown on track screen,
CORRECTIONS
radar
Marine navigational training undertaken at sea under watch- keeping conditions is prolonged and, as a result, expensive. It the facilities provided by radar ed to the greatest 'When corrections are made are to be
advantage, a navigating officer and
necessary they become
their must have included in his train- aircraft change when direction or their speed of fighting a simulation, of all noviga-
the computer adjusts its pre-flonal silumilons, however
are often dim- dictions accordingly. The commute, but these
ré-
only predicts the cult and possibly dangerous to
aircraft-boli simulate at sea,
puler not course of the friendly and hostile-but it also
numbers them for individual
identification and automatically Resilent Fibrous
labels them as being hostile, or
it necessary unidentified, on the
basis of information fed into Wadding For Padding
The computer displays this
Information on
a large electri-
GRACE, THE ROBOT,
PHONE OPERATOR
THE first announcement
THE
B
DONDED "Fibreèeta”, a resilient fibrous new
developed Jas wadding,
now
Anal compilation of April construction contracts shows the Brutes 4 per cent over April, W Reported the F. 1057.
Dodge Co. there were 850,000
starts in April,
Auto Makers
Auto makers turs.cd qul Courtaulds Ltd, 18, St340.474 cors in May a 10.4 in- Martin's-le-Grand, London,erease over April but it stili was E.C.1, is now in commercial smallest May total in 10 years. Dealers reported u slight sales
the month, six to nine per cent
of
by
Bank Of England
Statement
London, June 8. The Bank of England state- ment for the week ended June
4, read as follows:
veritat Notes in cirestation 2,038,031,763 0921302 Public deporte...
201.431017 Governani cuntles 201,344,550 Private dopests...... Other recuchiles
41315,120 14.094503 opta
4.5
of telephone automaproduction by leading United increase during the last half of Ratio tion in the UK. Introduced Kingdom manufacturers. GRACE Group Routing and Charging Equipment.
eall and, for. the
It has diverse uses as a Bill-
sound insulant.
advantages Include ita
acetate
us compared to the first half,
-U, P. 7.
Bank Of France Statement
tion Funds
trahe
zero
air cargo traffic Is riving. In some cuses 10 to 15 This robot telephone operator ing or padding and as a heat or Total
oll-time interpret will
the number
case per cent, and new dialled. It will select a route to
Paris, June 8. reach the wanted exchange, and of handing, the ability to be records seem in the making for
frequency operate switches at intermediate welded to other materials by this young industry.
radio
The Bank of France state- Department store sales for the Insulating exchanges to make the through modern
latest report week show a 3 per ment for the week ended May connection. At the distant ex-methods, and good
same week in 25, reads as follows: change it will ring the wanted properties.
Bondol "Fibrocetn" consists cent guln over number.
13,420,013,462 Total other currencies GRACE will calculate the rate of super-crimped "Fibroccta" 1957, and in some area it is up Total gold holding 2015045,120
2 per cent. staple) (Courtauld's
Personal Income of all kindsight balance abroad of charging
in EPU 11.771,000,000 when the call is answered, will bonded together by the applica- in the first four months of the Advance to Stabiliza
higher than tion of a plasticiser followed by control the recording of the
heat treatment, The product star was 4 billion
for the same, period In 1957, Total bilin tilaceunited 2,031,330,274,300 charge on a meter.
can be manufactured in a wide GRACE, with automatic ex-
and 'quasumers spent 4.3 billion Banknotes in circula
Lion
3.200,311,318,300 1858 Arst Current account and more during the changes and improved circuits, range of densities, thicknesses, widths ivr and
depoata quarter than in 1957. constitute a techriical revolution, rigidities
extending from Some of different uses,
Unemployment in May re- ray the British G.P.O.
mained at 5,200,000, but much felt-like flexible
was cushioned by uncin-
It materials and weddings,ployment benefits.
рав A 400-mile inland call of 3-very light and open flops-like noted that Government payments benslops, It can also be pre-in such us ojd-age minutes duration
of + full range are nearly $5 billion higher than a year ago, and that extension of unemployment payments plus millaty and other federal pay raises will expand incomes of federal employees by $2 billion.
the bonents have already been dense, rigid film-like materials, passed on to subscribers. More through are to follow.
in the bitsy structures. hours of the day has cost sub- ducel in scribers in 1922, 09. Od.; In 1934, colours. 4: In 1043, 3s. Od., and now in 1958, 35. Gd, and with the sub-MATTRESSES striber trunk dialing system it will be 2s. 6d.
When used as a padding for car panels or mattresses, or as a filling for the fluting of seats or for cidendowns, the material enables the sealing, fluting and quilling to be effected without stliching Moulded articles such
OFFICE AUTOMATION
Stockholm.
of
I.
4.77
15.00
Gold Prices
Paris, June 7.
Dairy
200
The general market average, rising in every session" except Wodnesday, ended at its on highest level since last Septem- ber 19.
Vulume, on a daily average busts, rose to 2,705,000 shares, making this the most active week since Carly in May.
OVER-DONE
London
Remains
Firm
London, June 8.
Market experts ate divided on The stock markets this past week have been dominated 1000 or 0.40 the markel's future from here on
20.40
out. Some believe the market
by a note of caution 1050 1000 10.30
which has kept business 500 i 21.50 has over-discounted the future 900 Z750 of business ald therefore hás
very quiet, but on the the rise. How- over-dong
whole It has been a good ever, the momentum of the up- turn has not been checked, ac-
market, with most sec- experts, who vordng to other
Lions, on the whole, re look for a new drive in what
maining very firm. the traditional they consider nummer market rally?
Gill-edgeds are underpinning Steel responded this post the froness of equities, Invest- weeks to rising production, which|ment demand for gül-edgeás, to Improved even on Wednesday, when attributed urders and some hedge buying prices seemed stagnant, had not against the possibility of a July disappeared.
200
27.00 77.00
2.80.10
500++ 23.10 2004 23
11.70 11.00 1000 or 17.60 2257.Co 1000 or 17.70 500 17.50
Walion
COTTONS Textile
XÚ
10.03 11.10
17.30
WAS
352
780
1050 300
1.84
price rise. Alcerafia, met sun
7.00
Envent
1.60 4.00
1.80
4.70 3000
.. 10.40
port on predictions of good business, alieal.
Rails were in demand follow- congressional 4.5ing news of a
and
1000 1050 drive to cut the exclse tax on
Buliding 200 @ 10.50 tranrportation..
NY COTTON FUTURES TRAVEL
ON DOWN-GRADE
New York, June 8.
Cotton futures travelled on a down-grade last week, dipping
a month
as traders analysed to the lowest level in favourable crop news and awaited congressional develop ments on farm legislation.
Hongkong's Debt Per Capita
New York, June 8.
Picks World Currency Report said today that the U.S. debt per capita $1,591.44-is the biggest in the world, with Britain's per capita debt, of $1,496.35 in second place.
Interest Sparked On Cotton Goods Market
At Friday's close the ilst ruled off 15 10 44 points, or 75 cepts to $2.20 a bale lower than the preceding week.
INSTITUTIONAL
Institutional buyers were operating and concentrating on the longer dates with the result. This resulted in a sharp ralting of the tap price by the govern ment broker, of such stocks as tbe funding 64 per cent 1992-84, which was raised by 5/10 to £101. War Loan 31⁄2 per cent gained and Daltons treasury 21⁄2 per cents 8/10;
There was almost no activity in the foreign bond market this week. Germans were dull, and Japanese somewhat Irregular. The 5 per cent 1907 non- assented gained half a polgt to
£245 and the
6 per cents of
1924's 11 points to $1822. The 1030 5 per cents-both hoo Tokyo 5 per cents und the assented-cased half a point on
the week.
spil
Industrial equities hardened towards the week-end a to of a relatively result amount of investment buylog. in London Industrial equilieg
with 'much 'the are behaving satin confidence as they have cern over the crop this spring been on Wall Street and the
Some quarters
thought con-
had been overcome.
of the
They
CANCELLED
beligved the 1954 crop, despite fall in fixed interest yields set amallest institutional investors bargain- the handicap
in many years, may hunting in the equity market.. Boreage prove to be considerably larger than recen: trade deds, cry- etalising around 10,000,000 bales. They qualified that view with of prices falling this was it-
being, and buying raised pric the warning that a long period mediately cancelled out by buy- needed to fully overcome
of favourable weather will
Jalila) lateness.
Failure
were-
the
Whenever there was any algo
Except for Rolls Royce which lost 2/- after going ex-dividend on June 4, all the blue chip Issues were very firm and prices hardened, led by Unilever, with
2/- rise on the week.
Oils and base metal aliates, particularly coppers, were active
a reflection
of Wall Street, Oils had one of the best weeks
a 17:
The Kaffir market had new
life injected. Into: I, with the
Ireland. $321.18: The American debt, the re- ($379.64;
Norway, Failure of the recent imprave port said, is as large as those Swizerland, $320,62; Derimark,
$281.43; ment in cloth buying to expand Austria, France, Western $280.05; 031778.00 of
the South Africa, $198.86; Iceland, and the quial, demand for sport factors other Germany, Italy, Japan, Netherlands and Switzerland to- $167.86; 1taly, $187.85: Finland, cotton
in nearby $111108, Spain, $107.00; Westbandicapping rallies gether
Austria, munths. $83.92; Germany, In Hongkong It is $3.00.
Portugal, $34.90; The first survey of the season Exchange Rates
Picks listed some of the per $85.00:
followed 574 1
closely the local capita debts of other countries as Turkey, $54.85: Greece, $48.00 by a Memphis spot frm said the for some time, with Shell Tran- Business was done in
Egypt, 340.45; Philippines, $36.26: crop was considerably behind part leading with a gain, Ceylon, 331,97; Korea, $29.9 1st year in eastern belt Boutons, British Petroleum with uncle exchange market this follows: morning at the following ratos:
The for forward deliveries
shin. is douar (per $1)
Australia $982.11; New Zea- Vietnam. $21.26: Japan, $19,20, sterling notes (per Cli
12 fand, $902.98; Helgium, $748.52: Thailand, $17.47; Burma $63; were relatively easy most of Ure in Australian noles (per £1 Indonesian rupish (per 100y 8.2 Sweden, $43434; the Netherlands, Pakistan, $4.00: Sudan, $3.10; time as fraders saw prospects as the Agriculture Conunliice is 28.00 Elam Hoal (par 100)
1.50 3423.42; Israel $388.70: Fratice, and Iran, $1.34.-UPI.
scheduled to vote on a catch-all oficial conilmaton last week of singapore (Stealta)
farm Bill revamping price sup the formation by the Dlille port programines for major ec Read banking group in New 101 York of a 30,000,000-dollar modities. Tho proposed would allow cotton supports to trust to take up South African This covery drop a low as 60 per cent of gold shares, parity in exchangé for larger | Would have been greator still
| Harty Oppenheimer, Chairmagt Anglo-American recovery in the textile planting allotments.
Raw collon exporta for the of the giant In the buyers probed the market seek said Indicated tirey will be New York, Juno 8.
through June 3. Corporation, had not old the ing to book sizable amounts for industry could very well precede
but upturn. In the Reneral conson
ill-informed New York persistent, the in the long-dormant print
reported by Nimproved buyer inter-market for additional yardages.
ter the fourth quarter at gairen Pony the demand
totalled mour that the price of gold economy,
Exchange.
The clol, shootinga. asлa price.
Seler yarn spinners reported a Cotton and other
Aaskontal 4,951,495 bales compared with was about to be rained,
the rises in Kaffiny duting the week. This moulding properly lamarkot for heavyweight in-Surga, broadcloths
In most Instances they met mixed situation. constructions
period Inst secson registered from two to four By means of this device anal useful for inaking packay-dustrial fabrics enlivened on standardi
with a flat tuan down, Weavers plow down in demand from 6,713,505 bales shipped. In.
was. balanced rame
shilloja. ing materials to shape. As #
said it was too risky to be com- hosiery knitters
There was some. buying of adding machine and an account thermal and sound insulant, otherwise slow situation in mited, mostly to all-in need. 1 machine can communicate bonded Fibrocct" in caly
dollar stocks during the week, to cotton grey, goods last week. Demard for apparel fabrics mitted too far ahead in view of off by a continued demand from UPL
Both with each other and with m
experienced a lot down, reflect the rising trend In row coflon, underwear knitters:
Hard fibres featured firmness machine and thus handle, rot-resistant,
of wide coating cloths, ing
Inter walshing
unior Sellers generally were hopefulE
Canadian Pacile and by attacked
the impending' Buyers ase completely auntie
fui dolshing that an all-around Improvement in sisal and hemp, while burlap
Zurich, June 7.tional Mickel gained a polok. sige be will become pronounced in the tuled dull and indetly, unchanged. By the laid of electro-boruto the Shrey are bonded following more releases from vacation schedule
·WA Hemp inquiries pointed
Gold bar business was The proplum for dollar stopp+4 tomatic fooding weight data together, remains stable under automobiles manufacturers were plant workers."
The popular print cloth yamsecond half. * * * fabrics attracted: ...the mikul twis, scadem con, be register adibration. Für example, rotated buyers of matçens,
Dr Martin R, Golmsburgh, reports Philpping planting, may
economist, Nellezal hin 20 per cent under last year generally quiet during the period | Dalf a paint on the week lak 12
lo June 4-China Mall Special. per cent,P.I. "autemalleally by both the refrigerator doors and in alt-wide delila and broken twille.
KISCHEN and tig ge- truft, the insidial will not "Ded. The volume booked was not interest, Eput, goods were fil Chief
amme Industrial Conference Board,-U. P. L down"
overly great, but some couters best demand, although aunting machine.
A
DDO, of Molmo, the A South-Swedish office machine as toys and display aids can be
manufacturers, at the recent made in this material,
The
Hannover Fair for the Orst time, moulding is carried out on the showed to. the public
a new piasticised Fibroccia, before tape-punching and tape-reading the final bonding is effected. device of the company's design.
own
'is not
vermin Indi.
Elsewhere,
was
:
particularly "Canadians. Quiet Period