TRANSPORTATION
CANADIAN PACIFIC TO BRING BRITANNIAS TO HK
CANADIAN Pacific Airlines
THE CHINA MAIL,
·TUESDAY, AUGUST 12, 1958.
"There Ain't Gonna Be No Slump"
UK Advised To Learn From U.S. Experience
By RONALD BOXALL
London, Aug. 11.
They said it would, and it did. Right on schedule just as most economists predicted, the American recossion has "bottomed out,'
Aug. 11. will formally inaugurate Bristol Britannia jet-prop flights across the North Pacific between Canada and Japan on August 24, announced Japan Sales It Manager Jack B. Shaver last week.
The 400
10 me an hour]
from Vancouver Flights Britannia inaugural flight will Tokyo will also leave Vancouver i leave Vancouver for Talcyo on on Wednesdays and Sundays at
the p.m., with August 24, arriving in Tokyo in
planes August 26. The return inaugural arriving in Tokyo at 7.30 - flight will leave Tokyo on on Tuesdays and Fridays, be- August 227 and
in enter of the loss of 24 hours at arrive Vancouver the same day, added | the International Datelino. Shaver.
CPAL expects to slash hours from the present Pacific run through the the Bristols on the Vancouver route, he said.
TO REPLACE
CPAL traßle officials have an-
58
is too soon to say when the pendulum will swing the other way, but that it will is no longer doubted.
more
The monthly letter of the First National City Bank of New York states ponderously: "Evidence is becoming steadily
Im pressive, now that the down- turn has been arrested and that an upturn is in the moking."
To paraphrase a well-known Ave need that there will be no in- British statesman, "There ain't Trans-crease in fares when the change-gonne be no slump." The most use of over to the jet-props is made, encouraging thing
about
the Britannias flying the North recovery is that it was not aided by extra-economic Pace route will carry a total of or abetted
I was already under- 88 passengers, 16 first and 72 factors, tourist class. Cargo capacity of way, before the Allied landings Middle East prompted the aircraft will be 829.cubic in the
fears
"another Korea feet an increase of 45 per cent
Military adventures caused some over the Super DC-6D.
hardening of commodity prives but there is evidence that they
Tokyn-
The Britani, The fastest and largest commercial afginer now in servire in the Western world,
DC-ER will replace CPAL'S Interecalinental aberati on the
twice-weekly Tokyo-Vancouver This Will Be Last
run.
Shaver said the Britannia
would be able to by between Year For Japan
Tokyo and Vancouver non-stop
in 13 hours.
Until the work on the exten- the runways at Kai Tok
sion
Airport in Hongkong is com pleted, sald Shaver, CPAL will operato
shuttle IL
service with BC-B's twice a week be- tween Tokyo and Hongkong.
Eurly in September, Shaver spid, CPAL wil extend the Brizonia #lights to Hongkonu. COMMENCEMENT
A
London, Aug. 12. message in the Financial Times today. reported that most Japanese ship- builders batiove that 1958 will be the last year in which Japan can expect to lead the world in ton. nage that is launched.
|
کاری
Stabilisers
than during the Korean War. And this has nothing to do with the anti-recession tax cuts which the Administration (wisely an it turns out) resisted against strong; presstro,
The huge defeit is due to reduction in inx receipts and in- creases du
outlay for anti- recession measures,
farm sub- sidies, military spending and other things.
Eradicated
Whatever else it has done, the recession has not eradicated the inflationary psychology of pest war years, Investors in the Wall Street Stock Market never at "aty""time"appeared to believe) very strongly in the possibility of a slump, and now-while in the words of the First National City Bank, "usinessmen remain much-vaunted built-in stabilisers on which the sutious in their appraisals of the that bes to degree of pickup American authorities relied
Stock pull the economy out of a reces-head, the New York
Market is thinking in terms of done their work, sion, have
an im- almost too well, Worries remain inflation and enjoying
these are mostly in plenty but
Indeed
the
at the possibility of renewed Battion.
moderate buom.
WALL STREET BACK
STREET CLIMBS IMPROVED TO NEW HIGHS
New York, Aug. 11.
The stock market, jolted last week when the Federal Reserve Board raised margin requirements, climbed back into new high ground today.
There was some
And
Eladio Corporation erosion of ducts, America Chicle, Con-
ladin Corp. Pret. gain late in the session but 1 timaral Can, Eaton Manufc Republe Steel
1BM,
Freeport Beynels Metal hold of stocks managed to turing,
Sents, Roebuck ★ Co. on to gains running to | Suhður.
Shell Oli Co,...... one and two points.
Airerates featured in the up- Sami Reg. Paper Industrials provided most of site. Define Toce more than Sinetats Ol
Soculty Meble Boeing, Bendix, Solar Aircraft the steam for
point art A an improving production
Gaveral rasamles, Republic South therto Ries Sugnt pis Aviation, United Aircraft, all Southern Co. (The) ture, Aircrafts moved ahead. added fractions.
Southern National Gas helped in part by the belief the
Southern Railway (Cem.) Standard Brands United States may fire a mosa rocket this week,
rally, Steelo
tha markets met support on
Continuation
П was
Stokely-Van Camp.
Studebaker-Packard Corp.
Sunshine Mining
Steels started slowly but be- Can meying alter the American Standard Oil of Col. Iron & Steel Institute reporter Standard Oll of and.
Standard of N.J..... week rose for Sleep Bock (Toronto Exge. Uat output last the Bfth straight week. The Sterling Drug Co. Today's rally
COR- Institutu forcenst another im- finuation of the sharp advances provement this week; US. Steel scored on Thursday and Friday jumped more than a point at ito of last week.
bish to Lead
the group. Inland 1st Individual gains in the
hit a new top. past two
such points in
Chemicals were mixed. Auto issues as American Home Pro- stocks were generally Arm Gu
Tri-Carl Werrant Twentieth Century Fox Film the outlook
higher auto
Injoy Curblio sales in 1959. American Motors Union C of Cal.
Tin
HONGKONG
STOCK
EXCHANGE
Our Own Correspondent
Business done on the long- ko Block Exchange this With fustrial shares being morning amounted to ειμα hought of twenty
$372,000, times their proximately
Novit The morg's earn.ogs, the index of industris) | quotations and share prices on Wall Street this transactions were; wrek reached a new 1058 peak of 510,33-nearly 17 per cent above the year's low point.
for
Swift & Co. Ten Co
Texton far.
Tile Water Ami. Oll Time Inc.
was active and nrm. Leadington Pacife alway
Unitel Alrcraft Sin- oils favoured the upside.
Inlled Go Corp clair, Cities Service and Texas 7.5. Foll "B"""
Gypsum Co. nl their best were up more 1.8 Lian point ench and at news. Line Co.
gh. Standard Oll
(New .. Hubber Jersey) touched a new top on a -fractional gain...
VOLUME IN LONDON
London, Aug, 11.
The stock market got off to a good start this week on improved volume.
Gill-edged
securities im- proved as much as five shilings on smail investment demand.
Dollar stocks rose reflecting Friday's
on Wall advance
20%
31
| Street,
The Industrial Mat W33 dominated by good gning. and deport- ment stores paced the advance.
10 Leading textiles
20
40
4746
49
100%
40%
ま
ன்
34 P
307
30%
.. meltinge U.S. Steel...
31%
71%
U.S. Steel YP.C. PT
147)
New York Stock Exchange Warner Bros bond volume was $5,530,000.
at
Westinghoned Air Brako
Westinghoom Electric
volume was 870,000 shares.
American Sluck Exchange Western Union Tel Co.
West Vn. Pulp & Paper
New York Stock Exchange Wortworth volume was 2,070,000 shares,
Of total 1.184 issues traded 504 were higher, 417 tower.
Dow-Jones closing averages
were:
*
$1242
zo rada
1393.27
5 utilities
79.39
65 stocks
176.25
40 bond,
9.10
Slurry
HANKS
Buyer Sellers
Sale#
Comm. future price index
154.07
$900 103!
2
A Compressional measure to provide ans for local public works to beat the recession, has "The slump in shipbuilding, been hastily scrapped. Recovery
BK RE Commercement of the full predicted by industry experis in industrials from their April has emboldened siecl Vancouver Tokyo - Hongkong for more than a year, is now Dow
In an attempt to slow down the First Asia
The Federal Reserve INSURANCES 1th in September, said Shaver, becoming a reality." this newsmakers to chance a modest in- boom,
Alrendy Board nan increased the required Lingon... will be marked by a rjelal in- p. per's TASYO
correspondent ferease in their prices, augural
that down payment on share pur-bard.. flight
CPAL ccclure1 with
econta disks are predleting
SHOPPING the Artss national production chases from 50 per cent to 70 per Wheelock 5.95 President Grant W, G. Me- Conachie and over 60 Canadian
will be back to its former peak cent. by the last quarter of the year. political and industrial leaders on board.
The Britannia flights will leave Tokyo on Wednesdays und Saturdays at 8 pm. Because of the Hight gains of 24 hours cressing the International Date- Ine, the arrives in Vancouver will be 3 pm, on the same Wed- nesdays..
"I
prospeely for large ders are dim scale domestic those for un increase in export orders are hardly brighter,
"The goal for export orders this year was set at 500,000 Lus. Even the most hopeful shipping this experts do not believe
will Le attained,"
Tegure Renter.
mest
Docks, Fru.
But this measure 10 check Dock
because it
the or remove
(01
76
3.93 1000 4
2006 2217
11.00 33
The recession has been re-shure buying on credit scarcely Provident, placed, as the Administration's affected the market
did not check pressing worty by a
LAND, ETC. Anuncial crisis of a different sort causes of the boom-inflationary ret 21.39 21.0 The Budget deficit in the current portent of the budget delleft, and
of prices 10 fall and 3124 scal year is now expected to be failure
Trumphreya 1020 1500 about $12 billion, the highest significantly during the recession, ever in peacetime-higher even both of which point to a con- Real
RUBBER Linuation of the long-term info-
Amaig... tionary trend..
COMMODITY PRICES
FOREIGN EXCHANGE
AustraBe
Brazil
LONDON
The rubber market was stendy with spot quoted 123-10/16 pence per lb. Prices:
No, 1 Raspat ....
Total sales were 14,500 balca. -UP.J.
METALS
237-237
Seltient house termi
Sept.
231-24
Oct./Dec.
24-2434
Jan. Mar.
243-241%
Apri/Junc
2472-2+
July/Sept.
24-243
2 70 1/32
AUR.
224
Repi.
2.70%
Oct.
Fatale crepe
thin
AUK.
2394-2314 24-233 2377-21
2015
Lead AUR.
Sept.
Zine Aug.
NEW YORK
Closing rules were:
England official
101-2503
New Zealand
Others hanged.
LONDON
Closing rates were:
· Copenhagos
Frankfurt
Milan
Osio
Vienna
14.33-10 3314 11.0344-12.05% 1717-37381
10 0944-513.05 117314-117335 72.30-72.33 12 2014-12.202
V.P.I.
J'orla
Zurich
RUBBER
NEW YORK
fulures Rex rubber, closed 5 to 11 points higher with
sales of five contracts.
Closing prices:
Nov.
Jun.
Mar
May
July
Sept.
SINGAPORE
Was
Lochy
6.40
6.0G
28.03
The market
up at the opening on improved overgik advices and ruled extremely qulat with volume small.
Most sections wore neglected and in the afternoon
General markets, rif basta, porta:
Estate crepe titek
Sept.
COTTON
NEW YORK
Prices of cotton futures closed
today as follows:
Sput: 30.301, Out: 33.99; Life: 36.23; Mar: 34.50; May: 3844; July: 35.45; Out 33.30. Dec: 33.43.
NEW ORLEANS
Prices of cotton futures elosed today as follows:
Spot: 33.00; Oct: 3668; Dee: 36.10; Mar: 30.44; May: 30.46; 2: 35.47:
43: Dee: 33.40,
LIVERPOOL
1
Colton future, clogs, panco per ib, were as follow
American Contract Oct/Nov: 24.00; Decfian: 23.02: Mar/April: 2.197 May/June: 25,20; July/Aug: 20.12.
Mixed Contract Oct/Nov: 25.40; Dec/Jan: 28.45: Mar/April: 250; May/June: 25.50; July/Aug: 25.co.
SAO PAULO
Closing Was CX-
futures prices,
NEW YORK
4
'Int
A. Tawah.
Sungain
UTILITIES
.
1.00 1.08
1.65, 1.00
2.05
Closing Prices
Alden ne. Acy.
Allied Chemicals
Allied Ms inc.
Allis Chalmers
Am. Brake Shoe
American Airline
Co.
Am. Cable & Radio Corp. Americas Cyanami Amer. & Feign. Power A. Gon & Electric
An. Hone Prod.
Am. Mach. & F'day Ameriena Metal
2140 American Smetting 3500 21.40 Am. Sugar Bet.
110 1 B00 €
113 114 EM 10
- 20.30 21.30 Star Ferry Yaumall C. Light
(0)
Electric
To Hear Less
Britain has no similar problem but it has mues to learn from the lesson of American recovery. For one thing we can expect to hear Jess in future from those
who acto E. the would have
Government Telephone take n
positive action to celerate Britain's own recovery
17.00 17.00
100 @
32 American Tel & Tel
32 American Tos. ""
Anneenda Capper Armour
Allas Cons, Niinik Baldwin-La-Ham. Baltimore & Olla
1.06 enciclal Finance
Eendik Aviation Corp Bethlehem Sterl
114 Boeing Airplane
Burden (hel Co. Hurroughs Add Machine 13.40 Calif. Packing Carn. 100 17.40 Compheil Soup Cv.
Canadian Pacte R.
#
26 90 27.30
9.2004
25 30 23.50
490
155
200 in
200 15
Lenest
22.70 STORES, ETC.
....17.30 1711⁄2 1260 Sir Dairy
from the period of industrial] INDUSTRIES
stagnallou.
thinkers
like
Liberal Oscar Hobson are already begin- watsen ... 10.09 11,10 ning to warn against the danger Lane, Craw
of forcing the economy back into COTTONS
to
Are
14.10
Case (J. 1.) Co.
20.30 Cat. Fructur
20.30 Crane Corp.
30 CAPT. Punctal Corp.
25.40
Chrysler Muto:s
Chielt Peabody Colgate-Palmolive Co.
17.30 Comblan Carbon Co. 2500.30 Corel Credi
4
500 #
Manyang
1.05 $1.75 a state of inflation just because INVESTMENTS measures
combat it
Yangtzo 3.85 enusing a mild discomfort in some quarters.
Prices of metal futures closed today in cents per lb. as follows:
Writing in the Banker he says: 10.336" think it would be dangerous, in view particularly of the wage pressure situation, to do anything
Sept.
Copper Aug
Sept.
Sup
*jtx Aug.
LONDON
10.370 300
24,870
2598
$4,250 1.326
to fore expansion. In this matter the line between relaxant to and tenle may be difficult draw. But I include among the former, reduction of the bank rule to five per cent, and an
Commonwealth Elec Coolate Edison
Continental Ct of De Crown Zeiter burn Cuban Anker. Sugar 8.83 Diamond Alkail
Diamond Satch Co. Douglas Aircrati Dow Chemienia Dupont de Nemours Eastern Alene Kasimon Kodak
Up-Grading Of Govt Department
Priebs of metals closed today casing of the borrowing and The in sterling per long ton as capital issue controls. Those 1
tollows:
Tin
apot 3-month Copper spot
Lead Lead
3-month 1st half 151 haff
Zine Zine 1st
Buyers Sellens
120
accept as proper and desirablo moves... on the other hand I 730 do not want fiscal concerzion yot 1391 awhile. Anything that stimulated be plain consumption would
733
2071
207
JUTPA
07
721 Nov. 222 1st lott Λυκ.
Halt Nav. 2547
15
13,P.I.
SUGAR
nonsense at the present time. I not keen, either,
London, Aug. 11.
British Government an-
El Paso Nallons Gun Family Finance Corp. Firstone Tyre & Rubber Ford Motox General Dynamics
General Electri
General Fats
General Maturs
Gent, Pub. Util
Gen. Tyru & Rubber Getty du
Gidden Co.
Grourien . F. Co. Goodyear Tyre
nounced tonight the up-Grenmen Airerati
grading of the status of Gulf Of
its export credit guaranteo jionistake Mining Co. department.
Heyden Newport Corp
Ingersoll-Rank
Inland Sicel Co.... talerpitomical Chr
A Board of Trade statemeal tali Business Machines said this followed areeplatice by | inti Harvester
24% | stimulants to investment, If con- the Government of die recom- sumption keeps up, Investment mondations of a four-man coin- will presently recover them."
New York, Aug. 11. World No. 4 sugar futures closed ono paints lower to three points higher with sales of 154 contracts.
on
Recommend
without mitter..
tax ro-
Internationat Nickel International Paper Ini't Thi & Tel Juhn-fanville Co, Katser Industry committee consider Kansas C. Power & Light
Kennecol Copper Government export
Rett Meyers Tob. Co. fcredit insurance should, by con-
Locked Aircraft ¡ducted through EL statutory Loews Incorp.....
The whether
danl
Lone Star Cement Lowerstein & Sons. McDonnell. Aircraft (ስለነ
Stock Exge.)
Sir Oscar recommends rellance public corporation in some
Britain's own built-in other countries, or by a Govern-McDermott J. Lay stabilizers unemployment pay.nicat department. pensions, incom payments and other transfer pay- They came to the conclusion, Mesahl Iron Corp Minnesota Mining ments. And this view appears to saki tha statement,
Misalon Development be shared by Government. They it should remain a Governmeui Monsanto Chemical Co. recently rejected a Trade Union department "because of its use
Mentgomery Ward Motorola Inc. demand for an Autumn Budget-of public funds, its relation fo
National cult Cu presumably to introduce mea-the broader uspoeia of economic Nailonial Cass Hex. "A" The domestic No. 0 contract sures to stimulate Investment polloy and its dependence on
National Dairy Prod. Nellona! Land..... closed unchanged to two points and consumption.
Inforination from Government
National Steel Corp. lower with no sales reported,
urces."-Router.
Law York Central Norfolk & Western Ny. North Amar. Aviation Norüi-west Airliner (Com.) Oun Malhimmeri Olle Elevators Owen-lilino
Contract No. 4 (world)
Everyone will welcome tho. recovery when it comes, but with Sept: 3.44 Oct: J.; Jan; 3.47. the lesson learned of American
in Mar: 1.35; May: 3.581 Spot-teent experience bafora them, authori Exchange Rates
tremely quiet. Lowers wero cruzeltui pur kito were us ful-per 1. fot Cuba): 3.46. neglected. Futures:
Sept 11-61.00: May: 49.20; July: 40.50.
Open Interest; 6,754 contracts.
Contract (No. 6 (domestio)
tics are wisa to resist piressure to haston the process. Every op- portunity enues be taken to roline controla fou
which unomical
Sent: 8.70; Hov: 5.02: star: 5.03: ihero are still many)
Glasu
Oxford Paper Co. ... Farifle Car & Elec
Pan American AltWaya
Business was done in the local
exchang inarket this Paramount Pictures
lows:
•
No, & rubber per lb. Aug. 31-014,
Aug: 16.803 Get. 48: Deo: 40.; Mar;
No.
2 rubber per ib. Aug. 1994-2016
ark
No. 1
M
."
No.
Spot rubber unbaled
Blankel grepe
755-75
01-01% 0115-0316
In
morning at the following rates:- 1.5. dolar (per 1}
Parke Davin Co.
0.01
Penny J. C. Co.
but Sterling notes (për #1)
16.00
Penn. Belt Co.
at 14 dasignaled spot markets)
overstimulation could send
the
Australian noles (per kí)
1457
Philip Morri
No. 1 paio crepe
I was 34.83 vents.
V.P.I.
Open interest: 1,034 contract economy off on another dizzy in-
flationary ascent,
Indonesian rupiah" (per 100) .. Biam tical (per 100)
7.07
Procter & Gamble Co.
Pittsburgh Plate Clam
Bingapore (Btzita)
20.00 Pablloker Industries
1.00
Pur Oli
the United States, the pot (omits per in, allt NY ax-duty); provant undue hardship, gverage price of ons-inch cotton 5.12.
-U.T.I.
Gold shares ensed while cop- pery reftened slightly from their earlier highs.
initial
Olla held their small advance. Rubbers were steady, -U.P.I.
BIG THREE'S
DECISION
Detroit, Aug. 11.
The "Big Throe" automoblie componies announced plans which will bring some 200,000 employees back to work.
Chrysler Corporation said it will begin rehiring 42.000 Idle workers on August 18-31,000 of them in the hard-hit Detro: company's area, raising the hourly rated employment to 85,000.--China Mall Special,
SEKARTUMKAN VEREINER SAMMEN THEI
P.OB.I
E&A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwards
"SURAT *KHYBEA
"CORPU" "KARMALA" "SOMALI "CARTHAGE" "BALSETTE" "SUNDA" "CANTON"
Homewards "BOUDAN" ** "PATONGA"
"CORFU" "SURAT"
···CARTHAGE"
"SOMALI"
"SALSETTE"
"CANTON"
Leaves Landes
Galled 7/7
R/EX PROTE
Band 24/1 Sailed 10/
Elh August 1st August 120d Augum
Bih September 17th September
Une Kenghang (9th Angadi 25 th Aus
2003 Aug
4th fsptember 19th September flad Septembe 10th Delober 20th October 20th Gelaber
Leaves Hongkong Doe London
19th August 23rd August - 29th AugLUNT
17th September 28th September
18th October 22nd October
15th September 29th September 29th September
3rd OctobET
24th October
Tith Delober 25th November 17th December
24th November
Via d'pore, Penang, Colombo, Bombay, Aden a Pt. Baldi, "KOUDAN", "SUBAT" and "SOMALI" call s'pora, Part, Penang, Aden, Þ. Kald, Havre, Londen, Hamburg, totterdam & Antwerp.
*K
BRITISH INDIA 5.N. CO., LTD.
"OLINDA"
"SANTILLA"
due 13th Aug.
balis 18th Aug.
due 31st AUK kai
Calcutta, Chitla- gong, China, tang Singapore for Bhanghai & Japan
from Japan
iet Sept. for Singapore, Penang,
Rangoon & Calcula
P. & O./B. I. JOINT SERVICE
"UMARIA"
due 12th Aug. salle 13th AUL.
132%
14%
"URLANA"
dus 18 Aug. Built 19th AU,
"OBRA"
from Japah
for Bingapore, Kuwait, Basrah, Khorramshahr de Karachi
from Japan
for Bingapore, Penang, Modras Bombay
Bhavnagar, Karachi & Kandla
dus 24th Aug? from bondRY, Bhavna« ART. Karachi, Kandia,
Cochin, Tulicerta
Singapore
walls 25th Aug,
for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD. "EASTERN" due lath AUS.
all 15th Aug.
&
from Japan Be Bhanghai for Jemellon, Labuan, Sandakan. Brisbane, Sydney, Melbourne Adelakto
"ARAFURA” due 10th Aug. Trót Auweralia
BALL: 2012 Aur. for Japan
All vessels' have liberty to call at any ports on or off the route & the route à zallingy ako subjèct
to change or amendment with or without neties.
for full parheulara uppily to MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.
★