SCIENCE AND
ENGINEERING Nuclear Power Station
Pictured under construction is No. 1 reactor at the Berkeley nuclear power station now being built in Gloucestershire. The Berkeley project, which is cost- ing between 30 und 40 million pounds, is due for con- pletion in 1960-61, when the station will have a mini- mum net output of 275,000 kilowatts.-Reuterphoto.
PRINTING MACHINE
SUPERIMPOSES ANY TYPE ON SLUG
A NEW machine being manufactured by a
Somerset firm, and available for export- the first machine will be sent to Australia shortly -enables a wide variety of patterns to be superimposed on any type of printing slug in a matter of seconds.
of a pattern ariually cast in the fare of the type, er rules, or as
a stipple over the background | Havereruft & of a
Block. reverse
STEEL ROLLER
A NEW WAY TO
With the new machine, called
the Decortare, the electrically- FOIL THE FOXES
driven machine all type-cust~
Ludlow.
fatertype.
and Monotype-can
Linotype.
be passed beneath a hardened steel roller
upon which a pattern has been
with
оп
THE CHINA MAIL, MONDAY, JUNE 30, 1958.
Weekly Report On American Economy
Pure
United States' Odd Recession
Prices And Wages Inch Up Contrary To Established Recession Behaviour
New York, June 29, America's "odd recession" showed continuing signs of levelling off this past week but most responsible economists saw a long haul ahead to bring the economy back to a boom. The "udd recession" label, used by most editorial writers, stems from the fact that contrary to established recession behaviour, prices and wages continued to inch up and the stock market refused to bow. The Labour Department in Washington, in its regular monthly survey, announced last week that the cost of living rose 1 per cent during May to 123.6 per cent of the 1947-49 level on which its calculations are based.
To make things even more perplexing, the Federal Home Loan Bank Board reported that rash savings-savings bank de- posits,
insurance, government bonds-reached a record rate in the first quarter of 1058-a total
268.225 billion.
HONGKONG Sales Volume
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hons:- konst Stock Exchange this morning amounted to up-
quetutions and the morning's
transactions
were:
On
Declines Wall Street
New York, June 29. 7:
proximately $202,000. Noch Stocks gained on average during the past week. with daily average sales volume declining. It was a market lacking strong leadership and smacking of speculation.
SERVIS Buyers Belleza
BANKS
Bank IPPING
.
Wheelocks.
ן,
Sales
400 6703
6.20
500 a 4.20 2,000 er 0.15
Thirteen per cent of all the The railroad made the best trading done contred on 10 showing of the week and they issues selling at an average of closed on their high which was $11.25 a sharp,
off 0.22 point from last week's close but was more than two the weck's
The week's market story is series of stories on special situn-
tions.
BIG WEIGHT
to
ELIMINATING
.
Demand for the rails came when the Congress passed a bill
exelsea DE a eliminating
freight and other transportaush Car except passenger travel. loading had another week-to- week rise and reached their best level for the year,
DOCKS, ETC. But the three most important|ped to 187,073,000 barrels, com- Dock
The real market leaders, hill points above Provident 12.40 12.09 1,000 o 12:50 | General Motors and U. S. Steel | low. sectors of the economy steel, pured with 190,241,000 harrels a
before und with LAND. ETC.
drew up in 12th and 19th places automobiles and all showed week
respectively in volume of trad encouraging signs of returning 189,225,000 barrels a year ago.
ing. At the same time domestle pre-K and health.
Steel the economy's best duellon of crude oil and crude preya
Really barometer culminated eight imports went up last week. U.S.
ut Buccosive weeks of rising pro- crude flow was
rate of RUBBER barrels a day-10,000 Some of the non-recession duction with a capacity rate of 8,345,485 signs, however, may already be 64. last werk--a tolal output of barrels daily more than in the due to the fact officially under-1,751,000 tons, the highest sinee previous week. It was slenio-
December. Do- f early
Only scored try the Commerco
this cant climb back to the 7,237,905 partment that the business re- work did the steel industry de-barrel daily rute of a year ago. veselum hit the Lottom in May cide to trim down a little again; Oil imports were at a daily rate weck, activity was now holding more to an estimuled rate of 02.4 por of 1,054,000 barrels Inst
and capacity Among the first vent
an against 1,504,200 barrels the or less steady, effects of this were higher wage estinaled total output of 1,885.- v eek before. The June monthly and walary payments, a pick-up 000 ton-equal to that of three average for crude imports this
was because year is a weeks ago. This in nine and factory output,
mte of anticipation of sche- 1,401,000 barrels-only some substantial drop la unemploy- demands ment, a more than seasonal rise duled price increases on July 80,000 barrels daily under the similar June average last year. the number of employed fell off somewhat.
U. P. 1. and a lengthening of persons factory work weeks.
وادی
movi
one dark
side
narrow
11
The
the
Encouraging
1- which
at
a dally
Exchange Rates
23.22
11.70
15.00
1.53
1.00 5,000
1.55 10,000 13.75 7,030 or 13.75
Trust...
Sungala
UTILITIES Tran
1.40
4. Tawah..
1.90
1.30
Star Ferry
114
Vapeats
7.10
100
Light
Electric
Telephone 27.00 28
INDUSTRIALS Cerent
23 2312
STORES, ETC.
א!
praxy
Penn-Texas Corp, seemed have a big weight lifted from it when Keopold D. Silberstein, who stirred up several lights, resigned as President. The 10.30 10.30 1.300 a 1820stock let the market in volume 070 18.20 with sales of 315,800 shares and 90 29.00 six points to close the week at 1,000 25.50 its high of 0%
.... 20.50 200
Dalry 17.00 17.60
CO...
Textile XD MISCELLANEOUS 18 Entert... HKC Cani, (O). Vibra
14.00
1050
4.12
Business was done In the local tunofficial exchange market morning at the rollowing rates:-- US dollar per $11. Sterling noted iper £11. Australian noten (ber Ci) 12.08 Indonesian rupiali (per 1009.10 21.70 sum teal iper 1005
1,80 Singais (Straits
5.78
1.00 19.04
INVESTMENTS Yangtze ... Allled.....
HK. & F.E.
Invest.
10.10
500 32 28.06 300 27.00
1200 4 10
al
Industrial issues closed 475.42 on average up 1.82 points; utilities at 78.83 up 0.24.
At the close of the week the Industrials were 3.55 points un. der thele 1968 high; rails 0.02 points; and utilities 0.31 point.
Sales averaged 2,000,024 shares shares daily against 2,740,429 daily in the previous week...-
Avco, second in volume, had | UP, I. sales of 288,000 shares. It rose from a low 6% to 9714 whore it closed the work with a gain of point. This issue showed a rise in earings and reported receipt of several defence con- tracis.
It wasn't a one-way
markel
by any means. Out of the 1,300 issues traded' 514 declined white 676 advanced and 170 held un- 4.53 4.07519900 17 1 09
2,000 4.575 | changed. New highs totalled 188 against 19 new lows for the year,
10.00
Cotton Futures Higher In New
Close York
New York, June 29.
Cotton futures climaxed a week of rallies and declines with
prices on an upgrade.
At Friday's close the list ruled f three to 30 points--15 cents to $1.50 a bale higher-than
preceding week.
the
Prospects for a higher govern- ment luan rote on the F058 erop Joined with technical co- the
MONSTPOSITY
rejection
in be-
American Textile
Market
Remains Dormant
Upward Trend Stopped
In London
London, June 29.
It has been an uncertain week on the stock mar- kets and although price falls
were small they have been sufficient to halt the upward momen- tum of the previous week. The publication of thợ survey by the Federation of British Industries "which suggested that there would be a slowing down of business activity in Britain in the next few months caught most investors off balance and damped
down the optimism the previous engendered in week by the cut in bank rate and signs of the Government easing the credit squeezo.
Events in the Middle East also had their repercussions on the market
OUT OF FAVOUR On the gilt-edged market short-dated stocks were out of favour and even tonger dated Blocks drifted to the extent of
dollar premium on the week to
New York, June 29. Activity in the cotton textile market-down to a or more.
minimum for the past four weeks-showed of little indication of an immediate break-up.
Vacation shut-down by weny-
The official fell one point 1 per cent.
In foreign bonds some cup.
Сестрал accorded port WAS loans, specially Youngs
and
There was ather encouraging No Advice
By the steel field. U.S. Jews The chief complaint now was Steel Corporation, acting out of ot The that if the
an step with the resi recession was
announced It was odd one, man in the street, économy, editorial writers say, gets no stepping up its. capitat spending record one advice how to behave except brogramine to a possibly flut now almost for Pillion dollars. This was noorly
more than million
the tall fron President 400 gullen Elsenhower to "buy now."
amount authorised on March 31 steel's deepest Instead of buying more, the at the time of general rule has been-and still loom. The capital expenditure is-to hold on to all, the money whi co towards developing new org and uther that can be put aside until some sources of Iron clear indication is at hand as to raw materials, building facilities how to behave. This, too, may for the manufacture of new pro- seat for the record savings ducts and use of new techniquca and replacement of obsolete report.
Most of the experts polled in equipment. Part of the capila teurrent United Press inter-will come from a $300 million sinking utional survey say full recovery cring of 25-ycor
fund debentures. from the present recession may
Heralding the coming steel Inke anywhere from twelve to 36 norths, The economy, they price increases were boosts of as much as $0 a tent for specially shy, will range for the next few months steels made by Pennsylvania's and then start a gradual, but Alan Wood Steel Co. but most of the producera of ordinary Hitherto, many chases of die This all-electric automatic alting. upturn. Sume of
machine played rating work, and some "type-stippling"
was economista polled even claim stert were still dragging their
Teet on the previously that the next roul boom in types of
changes newspaper printing, designed jointly by Mr TR.
will nut get nounced price United States particularly
Director in advertisements, Jones, Managing
[{
were due to a scheduled July have called for some degree of Berrow's Newspapers Limited. underway unlit the early 1980's
when
World War Two we raise. the with decoration.
Mr 11.11. either in the form in associated
U.S. Steel said it might delus babies-a record crop--begh! Havercroft, whose flm are new
until and action
the competitive making the machine. (HH. marrying. settling down
situation clarified. (P.E.) having children of their own. Son
Estimated putomobile produc- These Limited, Birdwell Works, Lang The Commerce Department's
survey of current business noted ion last week, particularly out-sideration and covering in methods have been estly and Aston, Bristol, Englaut.]
the put boosts by Ford and Chrysler, expiring July contract have necessitates special pincess wurki
economie picture: A report that will send US. car output to coining the predominating in-
high of 92,200 units. fluences. businessmen had further cut 13-week their plans for capital invest. This will be the highest weekly
since the week ending Later deliveries were nuru ment. All the rest was favour-total able--trusinessmen continued to March 28 when 93,844 cars were volatile, moving alternately with built, Lest week's acutat pro- the changing complexion of dispose stocks on tand:
Cor | farm legislation prospects. liquislation of inventories, parti duction was 1,436 cars.
ដូច this AMBS
cularly new cars, contuurd at a production one year Downs the
high rate; manufacturers' sales week was 125,909. Eastboumo aro noar
Chrysler's scheduled output Housu and orders held steady through-
the Of ibintained that last week of 18,259 cars would nibus farm bill, which Agri- Dul May and eut so that the face of the type protected from foxes by a becomes docerated
This magic
drawn level in June; retail sales showed be the company's highest since culture Secretary Me Bensoners, dyers, and finishing plants, pritern.
their improvement with the possible January 11. Ford would tenned an "economic monstro-along with the normal seasonal Agreed Merchant Rates Konversionskasse stucks to the
high with 26,305 exception still of auto and dur-3-week
with Type-high stereos and blocks around
unexpected slow-down, promised to keep
extent of point rises. Grectes can also be treated in this way, shepherd.
able goods dealer sinel tput assemblies, Genoral Motors shuty,"
suddenness and toensed attes- new business at a minimum for
Canadian Dollars, Maximum Were
Japanese Sadler. and 1950 and by double rolling wing
Fremm 48 per cent of down tur inventory
tion ut the werkend on the another week or two, at least. Selling. 10 D/10: Minimum Buy- alocks there were a few move- This new way of keeping of climbed two or more types at roller—a
85 changeover in the Buick Div Senate bill, which is expected to to about the foxes is being tried
Capacity in April
ing. 10 13/10 TT: 10 O/D ments of point or so either SLOW-DOWN this week's wide variety of patterns can be
Eastbourne's deputy
per cent early in June; personal sion slowed down
Inclement weather
the Swiss Francs, Maximum Selling, way. and
declined income during May rose to an output there. All car manu come up for consideration next
Sucz Canai shares resultant slow-down in the sale 75 1/10; West German Deutsche- illion, turers were busy making plans annual rate of 344,500 wide
about 2,500 million higher than for an unusually early entry this
While details of the Senate of summer clothes in most areas marks, Maximum Selling. 11%. half width rollers, one half width, stretch of downland.
in February and only about the autumn of their 1059 models- Lill were not available, traders of the country nude fur added levelling roller, a planer and They discovered that sume amount below the all-lime the chief hope being that new understood it would give in- buyer caution, in grey goods.
models will automatically boost | dividual farmers sloiage poss.
be Unseasonably cool and wet wea- For type langer | creosole compound would manice | record rate Inst August. than 72 point, full width im- toxes keep their distance
sales. It was expected that all tween two programmes: Growers ther experienced since the start Seasonal pression and levelling rollers at first they tried smearing It
manufacturers will put their who want high supports would of June cut retail sales five to rin bu supplied
extrus on the lands. It kept the foxes Finally, the survey naled, new curs in the showrooms inget nereage allotments based on 25 per cent, merchandisers esti-
a total after October,
pren national and blocks away, but the dicop also dis-
employment 11013-14 F up to 8 meltes X2 inches, liked it, and some of the lambs seasonal corrections held to the
10,000,000 aeres. There would and gives the type face a new
Truck Division were deserted by their ethers. March level of B0,500,000. This,
Le no acreage cuts for growers and piece good buyers keut look, at no cost.
Now Farmer Pyle guards his however, was still two million In the truck division this past with allotments of 10 acres or probing the market looking for. quarter de- The Decorfare is said to besherp from the raiders by under a year ago.
week output was estimated ut less, Growers willing to accept third and fourth sbitable for headlines, advertise- drawing a ring of the new inix- Clums for unemployment 16,847, about 200 less than last 15 per cent lower support liveries, but at prices too low to ments. single letters, or lines, lure right round their field every
compensation were also on the week and substantially below would be granted a 40 per cent merit attention. Mills said the bids were "Impossible" In view downgrade. Statistics for lastest. June's level. But Ford an- increase in acreage allotments. of the higher prices they ex- week showed they were down in nounced truck sales in May Then, beginning in 1981, price twelve key industrial states were its highest in any month supports for all growers would pect to pay for cotton Inter in
the year. Initial claims dropped from this year so far. The dalty sales be set at 90 per cent of the
Spinners reported an extreme- 223,501 in the previous week to rate in early June was 18 per average open market price for ty dull situation in yarn us more 1,700,NI, Of course not all of cent ahead of carly May, Ford the post three years, The drafted plants stated to shutdown this declino meant increased trucks sald. A total of 18,702 bill also is reported to carry the vacation period. Many kalf- mployment, At least hall Ford trucks were sold in May, minimum
support of not less ters who were active earlier in of it was due to the fact that ix per cent above the nearest
than 30 cents t pound for June withdrew until the middle BAGGAGE: exhausted theirigh monthly total this year. middling inch -staple`collon. — of July UPI. Justed by a micrometer, to give. A DUAL-KEYBOARD type more persons
hand Hand writer designed for typing eligibility for jobloss pay,
with the U. P. I. a variation of height of two-scienüfe and mathematical for The Commerce Department's brighter automotive news were thousandths of an inck either.
mular - at Harwell Atemic survey mentioned further re higher automobile tyre side or type-high,
Researcher Station was on show ductions in planned capital in- ments which during Before patterning, the type
The best indientor, off rose to 5.6 million units, eight passes under u levelling roller at the recent Jubilee celebrations vestment.
of a this trend were Agires oa per cent higher than in May last to correct. any discrepancies. Leicester, England,
1950 machine tool orders which dropë year. Indications were After correction it is then moved British typewriter company.
ped in May for the second tyre replacemenis sales may be to the other side of the bed and
keyboards have. the Impression total of 183 characters and are month in a fqw. Now bookings highest in history and help US. passed under
in May totalled 21.0 million-off | rubber manufacturera roller, thus doing the job in one synchronised so that the selont-
last somewhat from the beating they symbols on
fall four par cent trom May one operation.
201204563,420 rate of got from their biggest customers Tho Overall the year Interchangeable with the roll-uccurately into place on
for-Detroit auto manufacturers | 25, reads as follows: purchases machine tool ers is a typo planing attach-script typed by the other, ment designed to give the pot. Similar machines have been January-May 1958 was down to in the past five months,
Notes in elrculation terned face a flat and mirror exported to Australia, Belgium, 110 million-nearly citing In
Public deposits and South Africa, and future the machine tool fleid is
Private parts anish......
The arm manufacturing this orders are expected from Den general rule, contrasting sharp
overment securities machine is now in the process mark and the United States. | ly with a year ago when menu-i of appointing listributors for all (The Imperial Typewriter Co, fosturers raised prices, sama ure
Luik, Leicester.}
I to ten per conf. countries.
circle" them by
by Mayor,
obtained say the manufacturers Councillor L. W. Pyle, and his
The machine le equipped
farm with five standard impression on Keith, who
It will take Type
and relieves the monotone.
03
selit black night.
WORKING SPACE- ·
[}
and
The machine, which is mount TYPEWRITERS FOR
ed on a stool trolley stand, re- quires working space of only
13 inches x 14 inches.
It
precision-engineered and the
impression rollers can be ac
SCIENTISTS
ic
The two
week.
came
a choice
ship- May
Bank Of England Statement
recover
US. gasolino stocks on hand one of the biggest overstocked inventories in the US economy for months-for the ret showed a drop last week balow levels a year ago. They drop-
of {mated,
Mill executives said cutters
London. June 29. The Bank of England slate- ment for the week ended June
Other eveuriiNS Receipts
Sterling
2,000 300,000
13,304,208
302.242.203
Bank Of France Statement
for
Paris, June 20. The Bank of Franco statement | for the week 'anded June 10, feeds as follows;
Trane
al gold holdings in Total other cusroseleg Sight balance abroad
11,172,31316
1 points on the week.-U.PL.
P&O
R.M.S. "CARTHAGE"
SAILS:
NOTICE TO. PASSENGERS
Friday, 4th July, 1958 at 12.00 Noon for the UNITED KINGDOM, via Singapore, Penang, Colombo, Bombay, Aden and Port Said.
Passengers are requested to send ALL BAGGAGE to the Hongkong & Kowloon Wharf Co.'s Godown No. 2 GATE, CANTON ROAD ENTRANCE, By Noon on Thursday, 3rd July.
SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Company's Godown for loading on board by ship's slinga only.
11,771,000,000 EMBARKATION: Passengers should embark between
Advance to Stabilien-
Log Fund Total bill" discounted 1.903,490,793,233 381,794,000|| Banknates in eirevins party
21,014,9003
*** B218,113.036,320 143) current recounts smal
4.5 deposits". 408,248,390,100
9.80 and 11.00 am, on 4th July, 1988. Subject to alteration with or without notice.
6