THE CHINA MAIL,
MONDAY, JULY 28, 1058.
Page
SCIENCE AND
Weekly Survey Of American Economy
ENGINEERING Expectations Unfulfilled
UK'S FIRST MANNED SPACESHIP
IN THE MAKING
London.
WORK towards building Britain's first manned
spaceship-it resembles a flying saucer-bas started in the industrial midlands at the Coventry aircraft factory of Armstrong Whitworth.
of about a dozen A band scientists onder Dr William F.
Ililton, the chief terodynamle HANDLING COAL
expert, are devoling their spart time to experiments n tem- 'perates of
30,000
Centigrade to beat the
dees WITHOUT DUST
return-i
ing spaceman's deadled energy, the called
"hot basrie
which burn up even hooting stars.
OFF-MOMENTS
A
·
Post-Recession Recovery
Failed To
To Materialise
e
Effect Of Mid-East Crisis
vessels,
ΣΤΟΙ
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Baytys Sellers
Boles
BANKS
TK Bank XD
763
770
116
20 203
70
·
0.02 0.20
New York, July 27. Expectations that the Middle East crisis might be a short cut to full post-recession recovery failed to materialise
Business done on the Hong- kong Stock this week: its effect remained very limited so far.
This Exchange morning amounted to approxi- Stocks benefited most. They opinion underwent surne cor for Economic Development, mately $201,000, Noon quota- private body, in a statement Tons and the morning's trans- were on the up-and-up for rectlan, but not much. almost ten days running. The
awar care did not proposing the following mea-actions were: True, was materialise. Norman Strunk, rures: (1) Increase of na- ships chartering market
Bharos Moa- (2) lifted somewhat
the tional productivity, out its executive Vice-President
of
Sen US. Saying and Loan League, sures to keep demand from doldrums as the Miltary Transport Service chartered discounted fears of a seare buy tisng foster that production, (3) some cornercial
puting spree such as greeted the Steps to keep prices and labour East Aala ..
rising In oiher INSURANCES of the Korean war costa rescive fleet tankers to outbreak use as troop transports and or-eight years ago, unless of course words some sort of Government Union
But others reactivated from loofing starts."
even contral. dened
SHIFTING before the Iraqi coup there was
"The Government's objective Wheelock mothballs
The Government set up blue-solid reason for fears that more should be to use its lax, ex- prints for immediate activation ination was on the way. Gov-
penditure,
4215 4216 monetary and debt Dock ETC. Several Swiss concerns have
11.00 1150 official aiready then management policies, In ernmen! of its two-year-old "Suez crisis"
com-Provident previously manufactured nyc-
for pll were busy dusting off economic bbiation, to keep the long-term LAND, ETC. emergency machinery ities for the
purpose of pre-shipments to Europe. But poli- plans to combat inflation and growth of demand equal to but IK Hotel: 2180 21:00 venting coal froin
tieaf experts who
activity wock their
Increased con- not exceeding the growth of the 11K Land.. dust, but these machines
predleled that the
with the Iraqi coup, siderably
possibility country's capacity to produce." Humphreys 15.20 10.60 Middle no matter how violent, would that the too small an output and possess-
East might
While everybody has long Really XAN 1.375 130 Not be permitted to interfere bring on a near-war economy.
strong since parted with any hopes of RULBER with the flow of Middle Eastern There were enough
tax cuts on a
Amaly. general level, a non-war cil were proved right; the Iraq
developments,
last Trust,
A. Tawah.. Petroleum Company reported ever, to make the Government Congressional committeo
week passed the second selec- Sungala... crusaders tako continued normal operations of anti-inflation
tive
seven. tax relief bilin both is holda and pipelines.
their chores seriously.
SPECIAL process makes it possible to do away with all discharge of dust when handling coke or cool. while During off-admeat: budini 12 Argosy freight air-it has beon devised by a
firm, H. £12.000,00 Swiss
Koch sterling De Hilton is trying to G.m.b.H., of Zurich, build a manned spaceship pro- feet which can be offered to, de Lloverament Buitish practica proposition,
liners
De Hilon sold: "What we we he ping to do is to build a vehicle
discharging
in which men can not only passed some other disadvantages. through the alimtephere but also ene burk through it again,
"We have 2007 befor other circular."
hod
the The firm commissioned Muschinenfabrik
Louis von Giroud of Olch to build a mac- Line with a large output, ce- to its specific Instrvc- cording 40 tions. This machine, which does
iwo designs us, one triangulve, the
How long? Thirly to But we are building feet, thing yet. That will have flone by the Government. are niready speilog our money on the designs... NO OBJECT
to do is to The first thing get a satisfactory entry into a satellite orbind come back. That would be a great achievement."
und
ات
no-not require ang manual opera- ! to betion, is filled with coal by means The coal is then We for a crane. wafted of all the waste and dust it contains. It passed into an
where a tid apparatus
dourless oil ngglomerates those particles which sight Gresk off and form dust. Alter coal is put this treatment the into sacks, by mechanical means, although it can nigo be trans- Asked if men could be lande parted and sold in bulk. ed on a planet, Dr Hilton re-
been plied: "I think we have a ve7 | Luht. The cost of
the bigger good
บ chance, Distaner is
nuichine, which can screen, de object once you get up there, dust and weigh about 25 tutis It is, of course, a long way in tour, amounts to about Swiss Mar200 days or that sort Fus. 15,000 (£1.239). The small- of der of time."
er machine, which is built on an
Two machines
have
Questioned about the chances mobile chassis and is mov of setting back to Parth, Drable, has a capacity of about, 12 Hilion answered; 'Somcote may ms on hour and costs about have to snerting themselves."- Frs. 23.000 (£1,900). For the China Mall Special,
big machine, four to six en are needed; for the smaller one, two men.
APPARATUS FOR MEASURING DUST
A
Television Solves Icing Problems
TELEVISION
camera
A installed in an engine
PPARATUS for measur
ing dust and fumes carried in flue gas has been developed by a British firm.
The apparatus originally for cowling to investigate icing measuring iron-oxide fumen problems, and its ancillary emitted with hot waste gas from equipment, was shown various steelmaking processes, can also be used to measure fine the Instruments, Electronics or coarse dust omitted from and Automation Exhibition crushing, grinding, sieving or at Olympia recently. other procenses, and from sinter The industrial television
plants.
at
camera was put in the port
Wan
A atainless steel probe carry-chgine Ravelle and it ing a sharp-edged nozzle faces possible to view the engine on a directly into the stream of dusty 14 Inch mocitor screen in the gas, allowing a sample to enter Lody of the plane while the air- at the same velocity as the loen craft was in the air and e- undisturbed
This celerating between heights of as stream. ensures that the dust content of 10,000 and 30,000 --some- the sample secuately represents times ui temperatures as low as that of the main gas stream. 45 degrees C. GAS SAMPLE
WHOLE TEST
the tests were
Thic whole of Anished in 20 flying hours white with eine equipment they would Lave taken at least 200 hours.
The gas sample is then drawn through a filter and cooled below air temperature to prevent condensation of the corrosive liquids in the process. Two gas- This is one of the many appli- tight vane pumps then expel the cations of closed circuit televi Altered and cooled gas cumple aion on view ranging from steel through an integrating ges meter production to upera ta monitor and a gas flow-rate indicator. screen to enable an off-stage The new apparatus, say the chorus to take their cues from manufacturers,
been the asical bag
director out front desimed to collect a weightable is ured at Covent Garden and in sample of dust and fume in a the Vienna State Opera House), phort period often less than five and from surgery to traille con- minutes and to be ready to take rol.
another within a minute. Long- Among the exhibits were also Worth Scienude instrument Co.jan ultrasonic cleaning Ltd., Abingdon, "Berkshire.
NEW SWEDISH
SPACE SUIT
Буб-
tem, stroboscope that flashes on and off 10,000 1mes a second and is used in valve cssemblies which are breaking down under vibrations and the controls of a nuclear power station.
ASWEDISH "SPACE SUI JET ENGINES TO
for Air Force pilots operat FIGHT FIRES NOW
In at
37.000 ft. hur been developed by
aititudes in excess of
the Swedish Air Force ResearchXPERIMENTS in the uso Centre at Linkoping.
aid
of fot ongines to Intended for emergency fire fighting are being carried Bleuations-in surized cabin should be damaged out at the Fire Research have to Station, in Elstroo, Hertford-
case the. pres-
or the plot should
ball out the new suit may be shire, England.
characterised as a combination The object of the experiments
of a conventional G-suit and a is to find the best way of coun- Jorkin.
Just
Doubtful
True, U.S. all production went up during the past week but was doubtful whether this had anying to do with the Middle
how-
300 11.00
300 a 21.00 500 g 21.00 64214
1.55 1.375
1.60 165-30,000 ca 1,055
1.00
Stocks Soar In
Very Active Trading In NY
BY ELMER WALZER
New York, July 27. Stocks soared in all sections during the past week in the most active trading since the week ended October 25, 1957, with the Dow Jones industrial average crossing the 500 level for the first time since August 5.
Lay after day new features Du Pont netted 8% points on cane forward to keep the rise the week. going at top speed-a daily average of 3,716,205 shares,
On Monday the steels ran up
Business
news was
food in ali- quarters sod there was talk
to new highs with the fedus- that the Middle East situation frlajs soaring 6.31 points in might spur a real boom, if it their average.
On Tuesday the continued to keep U.S. troops Also there chemicals had a spurt and quartered there, Allegheny Corp issues put on was the threat of more inflation sora: Breworks when the Com- with deficits mounting is the
Treasury. pany voted to clear arrears on two preferred issues.
Rumours.
At the close of the week, tho Dow Jones Industrial average stood at 501.70 up 15.21 points On Wednesday cancer cure on the week and a new" high rumours sent American Cyanu- nce August 2; tails 180.84 up since and a new high midying up.
The rumoury 5.53 were denied but the stock netted September 10; utilities 79.84 up more than
CA 0.98; sod 45 stocks 173.30 up two points
a new high weeks. On the same day Addres-4.84 points and
since Augusts 1. daya. IL approved a bill that UTILITIES
20.30 26 1,300 26.30 sograph-Mulligraph spurled co The Council of Economic would give income tax relief to
1.2006.30 a 3-for-1 split and a rise in *
The Most Advisera reported Jotal
112 government employees, railroad Star Ferry
dividends. It vetted 18% points output of goods and services workers and self-employed per-imali
Light...
on the week. rose in the sevend quarter for cons covered by the Social
pro-
Trara
+
鸿
11 17.00 2,500 17.00 01017.60
East. The American Petroleum duct for the three months ended / mproved a bill permitting self- { Telephone. 23.80 23.00 2,000 25. tire and ran up to No 1-trading ending October 22, 1037.
sume
3
Dalry
100
25.20
Sales for the week totalled American Motors got kito 18,581,325 shares, most since Bellon on Thursday near closing the 20,804,109 for the week In position. The Company report that
the Week,
Industrial average tel its 1067 low and 30022,60 ed good earnings," 2212
On Friday the liquors were the markel on October 23 saw leaders for a time ca a Senate that averago spurt 17.34 points, Finance Committee
plan to widest gain since November 14, 2004 13.00 extent the bonding period for 1020, on fund buying following
whitky from eight to 20 years, the drop to a new low.
1720 17 1050 16.50 14.90
COTTONS Texulu INVESTMENTS
Aled
HU
the first gain since last Septem-Security programme. Earlier, it Ekelele ... 2750 3715 ber. The gross national
employed persons to defer in- Institute reported crude nins to June 30 was reported at $425,come taxes on up to $2,300 INDUSTRIALS
Comment.... stills last week at 6,528,385 bar-1000 million. This compared year in income, rels daily up almost 90,000 with $445,000 million in the
These typical anti-recession STONES, ETC. barrels dally from the preced-peak third quarter of 1857.
measures showed the thig of
WALION ing week and compared with
The
consumer price in- Congressional sellon behind ac- Crew. * 6,047,215 barrels, daily in the
dexwag-still going up tual economic developments week of 1957. However,
the Government Amid new fears of inflation renerica acluntly dropped out although
was practically these bills may never get out of pul as against the previous week stressed that 11 and worked at only B1 per cent at a standstill and about as the Committee stage.-U.P.I.
close to having zeto change as of capacity.
we ever do and still have The plight of the US. oil Industry, one of The worst hit change". It stood at 123.7 per cent of the 1047-49 averago — by the recession, was reflected
up one-tenth of one per cent In earning reports for the Arst
from May and 2.0 per six months of 1958. Gulf
from June 1957. carnings Corp. figures showed. of $115 million through June 30 (or $3.72
compared 4 share) with $201 million for the first half of 1987 (or $8.48 a share), At the outbreaks of the new
Oil Output
Middle Eastern crisis expert gazine reported opinion said it could affect U.S. conomy in only three possible ways in the year ahead: renew ¦ed inflation resulting from
buying spree, government con- weck this trols or both. This
2
ocat
Oll output was up, was steel. Iron Age ma- metal-working companies with low steel in- ventories were taking a hard second look at their stocks and zvie love already moved quietly to bolster their market position. Some of this alarm is East attributed to the Middle and expectations of increased Government defenco spending, Orders for machine tools turned up in June, end- two-month decline. In ing A coming business
still 45 was per cent behind last year's pure but still reflected businesa optimism. Machine tools are oflen the first to mirror an im- ment for the week ended July provement in business in gen- cral. It takes nine months or Sterling 2,103,5874 (more to turn out complex ma- 12.205,041 chine tools. Thus the trend 2428170 in tool orders is considered the 224,720.560
31.104.630 best tip-off to future swings in 47,020.247 the economy,
14.3
Bank Of England Statement
London, July 27, The Bank of Englund state
23 reads as follows:
Nates in elretation Pubile deposits
Private depOTTE Government securities. Other sectirities Iteccipls Kalo
V. P. I
Bank Of France Statement
11.058 211,206
Karo
493,177,055.035
Valuation of all stocks! listed on the New York Exchange is nearing the record high eet on July 31, 1057, nt
$225,000 million. Trading thus far this year had brought out a rate of $30,000 million for the year which would be one of the highest in years except for 1955 when the value of all trading exceeded $32,700 million. In- flationary operations of the Treasury in a sale of bonds to
Exchange Rates
money rates
Farm
4.574%
Then Du Pont look over and brought the whole market up with the close around the highs,
Bill Prospects Bill
Lift Cotton Futures
By WILLIAM T. PLUNKETT
New York, July 27.
Values in cotton futures broke sharply late this week as trader sentiment switched from gloom to glee over prospects for passage of a virtually unamended farm bill.
On Friday the list closed 20 | mainly commission houses and ƒ bill that would perralt lower te 123 points below a week New Orleans brokers, carllercquivalent to tosses of Indications at the end of the from $1.30 to $6.15
a bale, weck were that the House and Forces behind the sell-off were|Senate had agreed on a farm
SLOWDOWN IN
U.S. COTTON
GOODS MARKET
New York, July 27.
longs and increased acreage, despite an angry statement by Scotor Hubert Humphrey (Democrat, Minnesota) that the Agriculture Department WOE using legal lobbying tactics in connection with the bill,
LIMIT DEBATE
Late in the day Senators agreed to Umi! debate on the measure.
Tension produced two weeks age by the new explosion in the Middle East eased noticeably this week and contribuit to lower prices.
Hot and humid weather with some thunder showers -- just
what the doctor ordered But reports from spots in the East said mins were too heavy,
eloaked most of the cotton bell.
Cotton grey goods markets here were not quite as active as in the previous week when more than 50 million yards of print cloths and substantial quantities of other staple fabrics ring insect activity
rank growth,
were sold.
ore con-
:
One
·
and
Sales fo far in 1958 total That total 351,002,710 shares. compared with 301,070,024 at this time in 1957, 386.285,852 in 1950 and 309,470,000 in 1855.
Wide gains on the week in ndillion is those mentioned. In- cluded Allegheny Corp, 6 per cont Preferred, on which a divided of $149 was déclared,
Allied up
Chemical 50%; Union Corbido and Stauffer Chemical, up seven or more; Lof Glass, Minneapolis Honey- well and Youngstown Shoot up six or more; and Louisville and Nasville and McIntyre - Por cupine up Avo or better. U.P.I.
Chrysler Has Very Bad
Half Year
New York, July 27. Chrysler Corp made the worst showing of the country's three top auto producers during the first half of the Year, the Company's report showed today,
A second quarter loss of $10,100,000 on top of a loss of $15,100,000 in the first quarter left the country's think berest red for the Arst atx months. a company $25,200,000 in the
Ford Motor Company, suffered a net loss of $17,300,000 In the second quarter, but a pet profit in the first quarter left Company in the black $5,400,000 or 10 cents a share for the first half
RECESSION
the for
General Motors Chép bas 'not
local refunding billions in bonds and ] the bulk of last week's business nods markets, Rayan ningeure Benson was pushing for lg come out with its Arst half re-
now
Bots conferees
Paris, July 27.
USDA
that the The Bank of France statement
reported for the week ending July 17
Government has passed Dalt reads as follows:
The slowdown in buying prices showed a strengthening more than $1,000 millon in the Francs banks to raise new money are was due in large. meusure to renderry. Colion yarns were past 2 years for its cotton Total gold holdings.. 201204,304,626 beginning to meet sharp cri- price advances which buyers more active and prices un some export programme under which Total other crencies
licism Those who feel Eight balance. abroad
that
were reluctant to pay.
In counts were marked-up two to roughly $1,000 million worth of KU
11,371,000,000 Inflation can be hedged in the quiries, however, were numerous three cents & pourd.
cotton was shipped overseas Advance to Sk
Stabiliza
stock market are expected to and it was obvious that
I also predicted, demand for con- prices on some counts were tion Fund
right on buying stock siderable busintas still over-marked-up two to threU
cents U.S. cotton experis would be Total bills discounted 2,003306,346,975 keep Banknotes in circular
with the resul
considerably lower in the 1938 that the shangs the market and will be a pound. tion ******** 2,300.176.632.075 might rise and rise.
buyers | placed onCo
of the most striking 60 sensor. Current accounts, and
The House approved n deposits
structure developments of the week was
SC vinced that the price **** Anti-Inflation Moves will remain strong.
the advance in flament yarn year extension of USDA's pro Already
PRINT CLOTHS prices which were marked up by grammo for selling form sur- is talk ot 'There
firming again to Sumo print clotlis were sold a leading producer two cents plus overseas for foreign cur- Aght inflation. If they did, the at prices cent to cent ato five cents a pound. The rise, reneles. The authority for this Treasury would have dificulty yard above the levels at which was not unexpected and was action had expired three weeks reflected in synthetle. Krey earlier and Secretary of Agricul- Business was dotte in the
to bulls yet, but the Company 18 exchange market unofficial
this notes
was booked. Some mills raised
renewal. It
for expected to fare better than the Scrate-House morning at the following rates:
Volces calling for early anti-sheetings to three cents a pound were advanced to 4, cent o BEZ 1.3. dollar (per #39 IKKA
other two. 16.00 inflation policica aro being after selling quantities for de- pound.
Tixning out details. Sterling notes (per £11...
1261 heard
sudden A more frequently and livery over the rest of the year.
wave of buying,
Both MEXICAN FEARS
Chrysler and Ford Australla notes per 1 indonesian rupiah (per 100)
louder every time. The latest Demand for finished goods was touched off by the turmoil in the
altempt to allay blamed their pour first "hálf In glom deat (per 1001....
20.30
In some time and Middle East, pushed up alsal Mexican fears, USDA announced showing on the general busi- To call came from the Committee better than Bingapore (Etroits)
hurd Bbre prices to cent a
no intention of raising❘nces
and the con- de- pound. Substantial orders were it had written for delivery over the the subsidy on expert cation at sequent lompact on auto
it's uma rest of the year The con Tho Mexican Government, Kinent" bought "quantities from which announces ourlier that it The auto companies gæpect African sources while American would nahers the withholding the introduction of 1968 care in
concentrated on
the world the autumn to spur demand, but of its collon from ter was £180,000,000 Lower buying was Measured in real tering
than in the first quarter offerings from Brazil and Halt market to strain a fairer price, industry mates for the hill year is, at constant prices
Matila hemp continued strong was afraid a UB. subsidy in 1938 are not expected to run 1957. sumers expenditure was 355
and scarce. Isolated offerings
eroas might undercut its pro- niuch above 1,099,900 unia. oen tilster and
up by
izrammo
Bad further deprem
Despite the poor Apt 'halt fixed Investment three per Incores of companies and publio were quickly snapped
prices. corporations wore E242,056 [buyers at prices. above listed year och blaher than
On the foreign scene, Egypt results "Chrysler directors held add or Ave per cent higher in quotations. -castler
the first quarter of this year Carpet wool was active and alt it would increase acreage the dividend on commoth stock than in the comparable period prices on grades supplied most-this year by about 100,000 at 20 cents & share!" "It' ́le pay- India reported; able on September 13 to heldurs of "1057, Incomio from wagues ly by the Middle East were up teidan" and
a pound sheaply-roduced cloths produtos of record at Alkyl #16: Tho Med salarios 'Who Me per seni | two to three cents
cut the dividend blabor and gross profita 'and | Wool markets. generally were ties in the dret six months as it Board had
drm fought to bring supply and from 75 to 28 emnts in April other trading indonise threes slow but priers were
UP.L demand into balance-UP.I UPI.. Der seni hiškas ---TP)
UK PRODUCTION RISES ONE PER CENT
London, July 21. Britain's production In the first quarter of this year romo by about
gent, as per Treasury abouneed today.
teracting barriers of smoke or The dive-lype helm and flame when fires occur in ships, the oxygen supply vibrator or in Industrial plant,
The are of ölk-Swedish dosign. The fallure to overcome such fires is men behind the new suit are often due to these factors. the Air Force medical exporta The object of Are Brykholm and Tara engines is to produce a largo In Laurcil, who both aro ex-flow of gases into the particulat perienced jot pliots, and Drorens ·cóncerned. These gases Wilhelm von Dobeln of the would- bo transparent und Contral Instituto of Gymnastics, chemically inert.
using
jet
that
+000
ile month" "bubilbation. Eponine Trends, “thế" Tres- "buy"A" the gross dumbello Hy ontrast there was a fall of product in the first quarter of |* Bejwven "qüo"knd' two per omni 1959 was £293,000,000 or siz In public cultiorifies expendi
Turb"înă Mˆexyörta of goods The suit has been tested ut The practical application of por oint higher than in the hi Research Castro's high- the
And devices, Üret quaster of Zani yok. In experiments depende, 'on Faltbudo chamber at simulated making molst the exhaust of the · rond- farma "16" was about one Enventist in hooks and work heights of upita' 40,000) 12.
rogenin' in the druk quari
· jet engine uand Tor Arn-DjNting. per stuk, higher.
of
mond,
recession.