ANSPORTATION
RUSSIA'S JETLINER 'THE MOSCOW LOOKS A WINNER
From ARTHUR BRENARD
Moscow.
THE CHINA MAIL, WEDNESDAY, JUNE 18, 1958.
LETTER FROM LONDON
WASHINGTON'S MOVE MAKES COPPERS
STAR
PERFORMER
By SYDNEY GAMPELL
I HAVE just made a close examination of Russia's astonishing Ilyushin 18 four prop-jet airliner-by permission of the Soviet Air Ministry.buoyantly, perhaps because cop tubes reported that all its plants itself suster
I have to report that this air- eraft--the Ruslans call It the
Morcows the first real chal-Push Button
lenge to Britain and America,
who since the war have supplied
most of the world's airliner.
So determined are the Russians
Tug Control
to Teak the Word's monopoly THE tug Flying Dipper, that they are offering the Mos
275 tons, has come into cow at the fantastic cut price of $1,000,000-far below the price service on the Clyde. This
of the comparable U.S. Electra push button tug. bullt by (3 milion dollars) and the A. & J. Inglis Limited of British Vickers Vanguard (Pointhouse, Glasgow, for the million dollars).
Clyde Shipping Company
outside Russia.
The "18" has never been reen Limited, is probably the most powerful diesel tug on the river.
But as I flew into Moscow in an American-built DC7C. I saw on the tarmac four of them
and another fling on a train ing trip with Russian Air Line Crew, why are to introduce the 'airliner to Soviet routes
month.
1 FOUND
next
Thirty-six hours later I was exonining an Ilyushin 18 a1 Morrow Airport,
This
what I found:
There is no
telegraph on the bridge or in the wheelhouse.
The tug to driven like a gear- less car and, carrying auluma- tion a step further, gives audible warning of impending mecharl- cal trouble. The captain drives the tug frum any one of four control points-two on the open bridge for use during docking and two in the wheelhouse, He has only to push a button to put any one set of controls into action and cut out the three can put the Log others. He from full ahead to fall astern in
the one movement,
necessary jegearbox changes being effected
In
THE FINISH is fine at least as good as Western planes, oume respects the techniques used are better than those on certain British aircraft.
The Moscow's "classical"
airliner outline obviously owes automatically in a few seconds 10t 10 the Vickers by an ale pressure control which
la the key to the whole system.
quite Viscount.
THE CABIN and seating
arrangements are exact copies of COMPLEMENT
British and American lay-outs.
But some of the equipment is far
too heavy by our standards.
I
Her complement Includes two
the although
ship estimate that at least a ton could engineers,
the maximum
be saved by using lighter metals, provides
THE COCKPIT equipment Is mechanical akis. A siren warns overheats and a excellent, with every aid to it the engine navikatk and bad weather bell draws attention to any foull nir pressure necessary for the flyin.
IN THE AIR the Moscow vitni cantrol handle
most as easily as Western airliners and better
that emne.
I was the Best Western avia-surface speed of 12 kota. She tlon writer to be given fuit fuel-is powered by
tien [1 study the capabilities,
MYSTERY
Designed for deep sea, as well As for estuary work she has n a seven cylinder plane diesel engine supplied by British Polar Engines Limited. Glasgow, h. She is developing 12,000
Intest ulso equipped with the high frequency radio equipment and with radar.
A senior official of Belgian Air Lines told me his Brm had been offered the Moscow at $1,000,000
and delivery within
months.
Sout
The Mosgow is a line plane," Flights To Nowhere
he sold. The mystery is how
the Russians can offer it at such
a low price.
"Quite obviously the airlines
of the world will have to con-
der it seriously
and deliver}) tractive,"
In A Britannia
as the price CANADIAN Pacific Airlines crew instructors will soon dates are so di-
be Bylog the 5,000-mile lights the Britannia is of which capable through varying weather conditions without getting their feat off the ground.
If agreement is reached with British European Airways, the Moscow will be seen at London Airport this summer.
Household Things
Aid Aviation Checks
THE
The setting for these "lighte will be a flight to nowhere"
the modelled Aimulator
ON
the prop-jet which recently brought into The slmutator will look like the front section of airplane. Britannia. Hall the
Britannia
pirline service.
every
THE flight tosts of the half electronic train, the pilot
trainer will duplicate aro cockpit detall of the actual air- now making steady progress craft.
Lockheed Electra
In the United States. Natur-
го-
of steel stock
London, June 17. Copper has been the star performer in the week ended June 14 thanks to Washington's proposal to stockpile 150,000 tons of United States production during the coming year at a cost of $82 million. The proposal still leaves many obscurities and there is ample experience that stockpiling purchases are good for markets only while buying is in progress and can leave a bitter aftermath when it ends.
bus bren redistributing But the market responded A leading producer
than ever. Other Germans, do per was already regarded as were on shors time and although accumulators, the
times not play poker and are not re- sounder In tw importante cividend Was seven respects. First. It was felt that covered last year, it expressed distributing quid reserves-for the price should average higher doubts about inaintaining its from it. nver a period because the recent dividend this year. price it protracted would not
Mr Harold Macmillan appeurs produce enough copper. Second-
scored Fuccess ly, a slump. has brought some to have permanent rains by Inducing notable as woolly in convincing tex Recept his American hosts of the need labour,
defto enlarge International liquidity, measures of economy ciency.
He explained that unless players all chips are who accumulate willing to pass them out again, the game cannot continue.
unior
Serious Signs
Lees pleasantly the week haa brought most serious signs that the recession has spread to a major British Industry. See output in May was reported rather sharply down for both home and export markets,
as
The trouble is that Americans who play poker and understand the polni do not at the moment need convincing since they have been passing out chips very fast: in recent weeks American guld
Britain's Trade With Colony
Fourfold
The Bank for International takes a hand by Settlements calculating that despite four- told enlargement of the world's
1938 sterling advances slave
of aggregato reserves the rallo
(gold, dollar and sterling hold- trade turnover, Ina) to world
hus excluding United States, fallen frum 42 per cent in 1938 to 25 per cent in 1957.
sources
of
Mr Macmillan and his hosts on the appear to have agreed
of enlarging desirability
International The Monetary Fund and the World Bank. It is certainly desirable --If only because the resources are reckoned in 1944 money which differs greatly from 1938 money-but no feasible enlarge- ment will go vory far in con- parison with the many billion dollars of missing reserves.
Questions In The House Solemeals arques
Of Commons
London, June 17,
The Bank for International that essen- tials for containing the present rercasion are an adjustment of prices and production and crea- tion of easy capital market con- dillons. Americans who have the last twa done worders on
other are to work out new a rising price re-
on eesskar-while beart
Wall
still trying.
and nothing on the
Mr John Profumo, Colonial Under-Secretary, today
discounted a suggestion by a Labour M.P. that economies of both China and the United States benefit more than Britain from trade with the Britishing that you cannot argue with colony of Hongkong.
1957
Britain, ho sald had import and exports in favourable balance of £31 which came from and went to million in trade with Hongkong | Britain, China and the United in 1937, he told the House of Commona.
Mr Ernest Thornton (Labour) had stood what were the per- centages of Hongkong's total
Chatter On Wall
Street
Sintes
The Figures
· Mr Profumo replied:
"The figures per cent importa were: 13 per cent from United Kingdom, 22 from China, 10 per cent from the United States.
"For exports the figures were: 11 per cent to the United tu Kingdom, four per cent China, seven per cent to the United States."
He also said in reply to 0 that 22 per ernt of question Hongkong's cotton-plece goods
the
Street Jest their shirts in learn-
one 10 four billion dollars of created money every month.- Chino Mall Special,
HONGKONG
STOCK
EXCHANGE
Our Own Correspondent
.Businese done on the Hong-
Shares
BANKS
Buyers Bellery
Nales
75
BK Bank INSUILANCES
UNKAI..
SKIPPING Waterboat 10.00 Wheelocks
5.20 6. 2,000 t 6.20
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK Closing rules were; Canada
England ometat
H
Australia
30-day
90-days
New Zealand South Africa
India
Pakistan
Other unchanged.
LONDON
Closing rater Wirel
New York
Amsterdam
Montreal
Bruscia Copenhagen
Frankfur
1.03-27/03
Dizati
2.25
2.30
*.612
.0077
110 .2710
(-2,51-3/10
70-11/10
Parla Vientia Zurkeli
Other unchanged.-U.P.1.
11.70%- 178545-17443 2174 72.44-72.47 12.235-12.2371
COTTON
NEW YORK Prices of cotton futures closed loday as follows:
Spot: 30 25: July: 36.02; Oct: 30.53; Dee: 30.79 Mar: 36.03: May: 30,90; July: 38.13 Oct: 54-68; Dec: 34.37. NEW ORLEANS Prices of cation futures closed today as follows:
Spot: 5.10 July: 3000; Deli 36.31; Dec: 35.10 Mar: 30.00 May: 30.01. July: 30.17: Os: 34.83: Dec: 34.88. LIVERPOOL.
Cotton future closings, in
pence per lb, were on follows:
"American Contract July/Aug: 25.00; Oct/Nov Dec/Jan 20.60; Mar/Apr Mas/June: 2043
July: 400; Del: 45.00; Bec: 44,00; Jaar: 4400; M03 4109,
In the United States, the Average price of one-inch cotton markets at 14 designated spot was 34.80 cents.
Total sales were 33,100 bales. U. P. I.
RUBBER
Rek
NEW YORK rubber futures today closed five to 10 points higher with sales of 38 contracts. Cloxing prices:
July: 20.23 Sept: 20.11: Nov: 20, 11 Jun 20.05; Mar: 20: May: 20.: July: 20.
AMSTERDAM
The rabber market was quiet, Prices closeÌ In guilders per kilogram, cit July as follows:
No. 1 rubber
2.13 nom.
No. 1 rubber
2.09 nom.
No. 3 rubber
3.00 лот.
No. 1 reiz
3.49 nom.
SINGAPORE
The market was quiet with a small tranzaction. Futures: No. 1 rubber per to July 343-74%
Aue 74-7012 No. rubber per lb. July 1933-783% No. 3 No. 4
Spot rubber unbaled Blanket CET.
Ne. I pals crepe
The
LONDON
SUGAR
World No. 4 sugar futures closed two points higher to one point lower with sales of 841 Contracts.
Domestic No. 8 rugar futures closed unehangril to one point lower with sales of 104 contracta,
Contract No. 4 (world) July: 3.50: Sept: 3.43; Oel: 3.42; Mar: 330; May; 357: July: 3.26 Rept: 3.70; Spoi-cents per 1b. fo Cuba): 3.40: Open Jokerent: 7,420 contracts.
Contract No. U (domestic)
July: 6.70: Sept: 580; Nav: 5.79) Atari 5.79: Spot-scents per b. c!! NY ex-duty): 8.00 Open interest: 2009 cutracts-U, T. 1.
METALS
NEW YORK
Prices of metal futures closed tody in cents per lb. ns follows:
Lend
Juty
Sept.
ze
Sept
€544-455 13
Capper
62-0211 7415-75
Juży
Sept
561-5815 in
81-03
July
Supt.
rubber market was stagnant with spot at 22 5/10
pence per lb. Prices: No. 1 Has spot Settement sous
term:
10.801
20.85
0.141
23.01
20.12
04.00%
13.374
closed
2214-295cing in sterling per long ton as
2221-2214
2221-2215 Spot 223,-224
3-month
LONDON
Prices of inctals
follows:
July
Buyer Seller
AVE
221-2215 Titt
25.00
Sept.
330
7:30
20.33
July/Sept.
7291
730
Det/Dod
221, 221)
Conner
Jan/Mar.
2231-2211
pot.
20415
보셨다
20.30;
April/June
222-2215
3-month
(2002
2004
General markets, cif basis, poris:
Lead and half
June
June
July
Sep!
In
were ar
Aug
Zing 2nd ba
Estate arepe thin July
0531
thick
20.P.I.
Mixed Contract July/Aug: 25.07: Oct/Nos: Berlan: 2437: Mar/Apr: 20.07: May/June: 24.07.
SAO PAULO Cotton future closings,
Idio
cruzeiros follows:
Der
June
Scpt.
Stocks Climb Again
C4
COLLU. P. I.
On New York Market
Du Pont Gains 8 Points
Stocks soared today with Du Pont
best and the whole list at new
At the best levels the in- dustrial average was up more than four points. This figure levelled off before closing but there was no pressure la pol and prices held gains generally,
Trading fell off slightly from yesterday's level but la sill re- Inlively high.
All the chemicals rose with Du Pont by fractions to almost 2 points,
Cat. Tractor Cetanero Corp. C.I.T. Financial Corp. Chase Maubat, Bank Chrysler Motors Chuett Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Buec. Consolidated Elizon
Contrental Ou of Det.
Crown Zellerbach Cuban Amer, Sagar Diamond Alkintą Drumond Mateli Cu. Douglas Alferalt Dow Chemicaj Dapeal de Nemoirs Best Kudak
Airline
Jan
El Paso Nallons)_Gas
General Food
General Mokure Gean P U1 Den. Tyre & Rubber Getty bil Parko Davis strengthened Gilöden Co. ate in the day when a Federal Judge dismissed the Govern- zent's civil anti-trust casc cgainst the company.
Goodrich B. F.) Co.
Goodyear Tyre
Coppers held advances ranging and 22 per cent of shirts export-kong Stock Exchange this morn
ing amounted to approximately
lo, more than a point. Steela
Yandy Tanze Corp. ed went to Britain.
ruled firm $115,000. Noon quotatlong and
Autos ran up sub-
Firestone Tyte & Rubber Mr Thornton: Do these gures | the morning's transactions were; New York, June 17.
stantially and then kvelled off.
Ford Motor to indicate that both not tend
Halis Armed as did utilities. | ticneral Dyaumies Technically speaking, acchina and the US, benefit more
Special tasUCA showed gains as eclete cording to E. F. Hutton & from trade with Hongkong than
numing to more tinn Ove Co., the way is being does the UK.?
points. poved for further advances
Favourable the which could carry Dow-Jones all the way to Mr Profum: I think 486 on this move.
percentago figures show that the Walton & Co. believes the 13 per cent is worth £42 milion 1 per cent only £21 market has reached a level and the where supply areas will retard million. Thus we have a favour- able trade balance between the the advance, and until these are penetrated the market will have UK, and Hongkong of £21
to mition. to make several attempts
Mr
Silverman Sydney push through the overhead, sup-
(Labour): Can he confirm that ply.
the value of cotton imports inte this country has risen in seven years from £30 million to £100 million a year?
ALTERNATING
Bondex Weekly stock bulletin ys the outlook at this point is for alternating strength and Outside equipment will ally those tests are carried produce in-flight sounds and
weakness in the market ter
an intermediate our with the help of com-conditions and the "crew" minating at
and
undertake plicated
o fight range of 480-385 in the Dow- expensive inside will
Jones Industrials. paper. an planned which includes already equipment,
Van Styne, Noel & Co. DORA zomo unique measuring and During this flight the simulator
retent new high bringing now the buying into the market, par testing instruments in addi-can create more mock emer
from
technical Licularly
a tion to all sorts of photo-average pilot would cacounter in
simdpoint. graphic apparatus and film a life time.
& Josephthal
Co. срув Northon Pacific's carnings for 1933 may approach $4 a share against $4.25 a year ago,
cameras.
But very simple alds are also
employed to perfect the aircraft
gencies in an hour than
and to check its behaviour in Djakarta Wants
household Polish Ships
the air. In some cases one may even And
common articles
the elaborate smong
in Lockheed's new equipment flight test centre, which is valued at $3 million.
of
Dakarta, June 17. THE purchase of 24 ships from Numerous turis
ginzed Poland on long term credit yam, for instance, are stuck on will be one of the main topics the outside of the plane to give
negotiation between for
SHOW MORE
Francis 1. Du Pont & Co, saya Telephone 1958 Internationa}
It has riren Mr. Profumo: vory considerably indeed, But I hope you will note the insi part of my previous answer Reuter.
LONDON STOCK MARKET
* * 9 * 36 30 CARS AS
100
100
42 500 $13)
12.30
21.30
1,200 $3
DOCKS, ETC. K. Wher! Dock Provident LAND, ETC.
21.20 21.30 1550 € UK Hotel HK Land. 331 3332 GOO #3314
Humphreys 15.20 153; Realty RUBBER Amalg Trut A. Tawah Sangala as UTILITIES
1.0 5,000 43 1.09
1475 1025 5,000 1.50
5050 ייי הפל!
Star Ferry Yasumatl Light
ના 1931ન
200
00
05 e 17.00
40617.00
300 12.00 1,000 fr 28
200
500 10
Of a total 1,195 issues iraded. 497 were higher with 121 at with new highs, 432 lower
| rone touching a new low.
Now York Stock Exchange volume was 2,055,009 shares.
New York, June 17. up eight points at its
highs for the year.
17
CST
27
53%
Standard Dranda-
Standard Oil et cal. Standard Oil of Ind.
Standard Oil of 1,3,
Stoop Rock (Torchio Exgo.) Sterling Drug Co. Blokely-Van Camp.
Etudebaker-Packard Corp. Swift Co.
Техал Со.
Textron ine,
Tide Water Ausn. Oil
Ine.
TH-Cont. Warranty ..........
234 Twentieth Century Yox Flin
Union Carbide
53% Union Cit et Cai,
***
Union Pacifio Raliway
United Airtratt
331
575
th
l
United Car Corp.
3
U.S. Pull "B"
12
UB. Gyneum
US Lino Co.
US. Rubbor
9. Betting
417
GON
M
00%
SHLE
Grumman Akeratt Gulf €1
Heyden Newpo
Cop.
Homestako Mining Co
Ingersoll-Itand
Inland Strel De
747
fat! Business Machines Int'l Harvester.
371
G1
International Nickel International Paper Int'l Tel & Fol.
John-Manville Co
Kaiser Aralustey Karine C. Power & Ligist Rennercit Oopper
New York Stock Exchange | Liggett Meyers Tob. Co. bond volume was $3,540,000,
Lockheed Aircraft
Loews LcOTD... Lone Star Dernent Du.
Auncrican Stock Exchange Lowenstein & Bon
volume was 1,000,000 Dow-Jones
4 20.30 30 Industrial.
100 (4 28.400 ralle
| 19 utililles
65 stocks
were:
Electric
.... 2835 2835
300 20.30
500
20.40
Mace E.
10.00
Telephone 2140 21.00
100 1 27.40
500 G 27.50
400 #256
100 OF 27.50
1,500 27.56
INDUSTRIALA Cement 2310 23.30 100 24 1:500 23 2,000 # 27
London, Juno 17. Industrials reached a now
high for the year in a firm | Amoy Can but quiet stock market. Dairy
The Industrial average
STS, ETC.
ED Wataon
COTTONS
net is estimated at a new high compiled by the London Finan-I new at $4 a share against $3.12 incial Times closed at 172.0, up 2x 1957... .Rock Island RR will 0,2.
17.00 17.00
11.30 11.20 1720
4.00 4.05
烹
ATO
4.025 1.000
100 * 1790 Dog Gr 12.00 50011-20
500.00
FXD 7 7.00 Nanyanad 3 MISCELLANEOUS Vibro INVESTMENTS
angleze... the
Allied an Impression of the airflow at Indonesian Government and the these points during the flight. The ecgineers engaged in the Polloh trade mission, the Antara fight testing of the Electra ise news agency said today. nai varnish to mark their in- struments.
show net more than equal to Gilt-edged securities were the the annual dividend rate.
feature of the day rising modo- Harris, Upham & Co. believes rately on continued hopes for an Floridu Power would raise its increase in the bank rate. current 2 dividend rate by the Copper isques were also high- year-end to $2.20 with carnings or reflecting firming of the expected to rise to $3.30 to metal's price in world markets. The agency said that attempts would be made to reach, an your... Gesteral Publie utilities quieting nows from the Mudie
may boost its dividend from $2ast. water agreement on changing the pro- 'Disinfectant
Gold abares Armed in late share...Illinois $2.10 "wetter and lets it now quick-ent payment
Power would add some 10 coola treding but tin-issues eased er, thus enabling the technicians Indonesia and Poland, which
Dollar stocks were higher. a shure to not if a rate increase to trace leaks in pressure ays has been rendered virtually use-
featured a tem cod-liver off is employed less
Instruments against foreign 10"protest
$3.00 n share against $2.00 Jast Oils were depressed on Exchange Rates
makes
kystem butween
because of Indonesia'
exchange posklänn
Franco-PreR30.
10
is forthcoming and then it could) German
rake is dividend from $1.50 to generally gulot foreign bond,
·! market.-U.P.r. $1.50 STAND MARATPUT.
40 bonds
closing
Comm. future price index
shares. Mass Inv. Trust Co.
J. Roy averüzes McDonnell Aireraft (Am
Closing Prices
Allied Chemicals
Ailled BVļis Xne. Allis Chalmers A. Brako B100 American Atriina reason Ain. Cable & Radio Corp. Atnerican Cyaramid Co. Amer. & Foren. Sower Ain, Gas & Electria Am. Home Prod. Am. Marg, & Fury, American Meta), van American Emelting Aan. Sugar B Americans 201&TVÍ American bb. "13" Anaconda Cupper Anne Steel ..... Arthours) Baldwin-Lima-item. 25altimore & Ohio
gneticlal Winance Bendix Aviation Corp.
Bebiphiem 6042
Boeing Airplans Borden (The) Co.
...........
18.08
Burlon was done in the local | Benguet Cons.
exchange market Una unheal morning at the following rates: U., dollar (per $1) Brignolas (per &1) Austrailen notae (per 2)). Indonesian rupish (per 100) stems tieni (pom100 Gingapore (tralle)
Hurroughs Add Machine.... Baila | Calif, Packing Corp. *******
Campbell Soup. Co. v... 2105 | Canadian Fasilio M.
.1.20
Came (J. 1) Co.
Stock Exge.)
Mesabi Iron Corp.
10 Minnesota Manag
7122
8. Steel***
Werner Broak ....
Westinghouse Air Brake Westinghouse Electric Western Union Tel. Co. West Va. Pulp & Paper Woolworth
Tin Council
Meeting
In Paris
London, Juno 17.
The International Tin Coun- cil opened its mooting in Paris today with its main intorost centred on the question of Russian and Chinoso exports of tin, The volume of these exports into Western Europe has been increasing since the beginning of year and they are. Dow pressing on the world market such an extent that the efforts of the International Tin Council to support the market and bolster the price are being frustrated.
110.75
Mission Developeiant
10.14
Monsanto Chenitcal Co
JODA
Montgomery Ward
34
the
00.99
Motoral Inc.
156.00
National Biscuit Co.
40
National Cars Rez. "A"
To
to
National Dairy Prod.
National Lead cred
National Steel Corp.
New York Central
#771% Norfait de Wemperes thy.
North Am. Ation
17
37
North-west Airlines (Com QHD Matides
0215
143
Otta Elevators
3
Owen-Fills Glam
44
Oxford Paper Co.
11 Feste Gas & Eloo,
139 Pan American Airwaya DIN
Paracount Pictures
30 Parke Davis Co.
Penny J.C. c.
Penn, Bait Co.
M Philip Morris
17914 Proefør & Gamble Co. Nilsburgh Plajo Ginás
4715 Pubile inchustries £15% Pure Out
24%adio Corporation 111Radio Corp. Pref.
Republin see) 2111⁄2 Ternoids Metal ..
Bens, Floebuck a Co Shell Oil Co._****** 411% | Baint Reg., Paper $72eony Mobilit
"Aircraft 2011 South Fuerja hoy Syst 447) Mouthem Co. (TUO) 29ai
Skinn lesionet, Cam Bouthern Railway" (Core,)
However, having · annumeed the level of export quotas for the coming third quarter of this year it seems unlikely that the
16 Council will make any change at
this junctura,
0414
H
$1
472x23
All the main tin producing countries of the world, with the exception of the Soviet Union and China, ore members of the International Tis Agreement and moment the producera have cut production and exporta under the Tía Council's 40 per sent overall reduction..
It is understood that the Tin Council earlier 'this' year ap- proached Soviet Russla ord'suge feated shy join the tin agreement or become associated in way with it--U.P.I.
som