4 THE CHINA MAIL,
MONDAY, SEPTEMBER 1, 1958.
SCIENCE AND
Weekly Survey On American Economy
ENGINEERING THE THREAT TO RECOVERY
THE BEGINNING OF Special News HONGKONG
THE REVOLUTION IN SOUND-IT'S 3D
By JAMES THOMAS
THE word is STEREO-sound in 3D. Last week
this word was launched in a big way at the Radio Show at Earls Court in London. Thirty manufacturers had the new 3D players on view just as the first 100 3D discs came into the shops.
A revolution, in sound. With diacs which supply. from one ordinary looking groove separate channels of sound through pair of spenkers
↑
two HEATING ROOMS
angled to give the human ears USING CARPETS
the impression of depth and
scope
they get in a live per-
formance.
- heated
AN It is only the beginning of carpet underlay which
the revolution. After 3D discs will
SOLID SOUND
AN electrically come 3D radio becomes a cheap method of programines fed over twn wave-heating a room has boon lengths into a single radio, then produced in Britain.
The spilt back through two parlour underlay has been approved speakers to give the same stereo-in Now Zealand and. Aus- phonic effect as the new dires. tralia, and prototypes are in Coneda, U.S.A. and South Solid sound so that when Africa. singer walks across an opera The heated felt underlay stage he will appear to walk developed with they help of across your sitting-room.
Brhish Electricity Bourd This new radio is not so far technicians. There are no forstad-
It the public away.
buys helion coste, and the underlay -enough-of-the-new- 3D radio can be put underneath a carpet
rams, eastly convertible to radio, the BBC, will, within in a room and plugged into
II socket outlet. year, make Brilain the Brst country to get a stereophonte broadcasting service.
of
Wag
"Provided it is used intelli-. gently-switched on ten minute before the room is required and off when going to bed or when the room is to be unoccnpled for any length or time-the cost of healing a room will be less than that of an average coal fire, and there will be uniform heat all over the floor," the flem claims. FULLY INSULATED
So in s Silver Jubilee year the Radio Show, the £2,000,000 shop window which has been dominated by TV for 10 years, moves buck to put the emphasis UD Found
instead ugain sight.
Moves back? Or moves on to follow Tho леш pattern
A 23 yds. x 3 yds, underlay. America, where TV is in for its absorbing 700 watts, only about thinnest winter, while radio. an hour to run in Britain reports a how boom?
and the largest size, 4 yda, x 3 AMERICAN TRENDS
yes,, about 1%d., the manu- facturers state. The units, fully-
in
STOCK
Developments EXCHANGE
Spur Issues
By ELMER WALZER
New York, Aug. 31.
The stock market rose two cents a share during the past week which means it stood still in price change.
a
It picked up a bit in volume because activity in
handful of issues was spurred by special news developments.
with
year
Our Own Correspondent Businets done on the Hong kong Stock Exchange this morning amounted to appro- ximately $347,000. Noon quota- tions and the morning's trans- actions were:
Shares Buyers Bellara
BANKS
HK Bank INSURANCES Union
Dien
750 154 50 @752!!
PING 15 DOCKS ETC.
Wheelock
Provident LAND, ETC.
JTK Land Itur.phreys Healty NÜNDEN
Amste A, Tawah.. Sungala UTILITIES
Fram
Youmell
For the list as a whole the
Compared
of August, ogo the close quibrium reflected the ap- prunch of the Labour Day hull- 1957-the market shows a gain day and uncertainties in the Far in value of all listed shares of East balanced off by rising bual 12 billion. The gain from Dec. less statistics, featured by a 31, 1957, is a giant 37 billion
AL 508.03 on Aug. 20, 1958- sharp rise he building, the eighth
eight
C. Light weekly gain in a row for steel, the close of the fest and prospect of a spurt in auto-months of the year, the market Electric
mobile production.
for Industrial stocks is the Macao E Sales In August totailed highest it has ever been on this Ter
INDUSTRIALS 62,373,050 shares, a decline from dale.
Ckeneni July but the best August, since
STORES, ITC. 1032. So far this year nies
Dairy Wat have reached 429,715,708 shares
14. Craw against 354,807,849 shores at this time a year ago. The toil is unly a short distance from the 1955 total when the full year set
new high since 1933.
Reflected
The Dow-Jones averages
TC-
flect the week's change in price: Industrial 508.03 1 the close on Friday, up 0.35 railroad 132.52, off (1.44: utility 77.97, off 0.00, and 05 stocke of the three averages, 174,52 off 0.00.
Comparing the August close with a year ago, there are ins over all. Industrials are up 24.28 points; uilities, up 10.13 points and 65 stocks up 7.94 points, But ralls are down 4.97 points.
Comparing the use of 1957, American trends, 313 home insulated and not affected by the showing is very much better
72.04 dow damp or liquids, are designed to industrials up
points; across the Atlantic. This is oug maintain
floer temperature of rolls, up 35.50 points; utilities, reason why the Radio Show's 72 to 75 degrees F., giving an
up 9.30 points, and 05 slocks, up Traditional bank of dickering
ale temperature of 57 to 03 de 28.81 points. sereens called Television Avenus
Sreca F. in o normal room turns this year into an Audio
Breplace. Fall bullt round the new, magic word STEREO,
entertainment usually
MI Freddie director of
Perks,
sales De British Radio
The Corporation, said:
TV
with
Special unito have been designed for the American market because
of the differ- Ences in standard voltage. (Thermalny Ltd.. Shelf Mills, market is becoming saturated, Shelf. Nr Halifax, Yorkshire. The novelty is wearing off, and
the boom in ordinary discs is
dying. For a year the buck-
room boys of the industry have BRIGHT COLOURED
been working all-out to produce
a new kind of sound, has LIFEBOATS URGED
been a slick and colossal job." The B.B.C. has followed the industry trend. I decided
IFEBOATS
to save the £20,000 It usually pointed spends on producing TV shows from the special Earls Court studio,
Now its engineers will check 'carefully on the sales of the new 31. radiograms which, for £15, can be adapted to take stereo broadcasting as well as stereo diac's.
should in
bo bright
colours to make them caly to sea, the Maritime Board at Lucbock suggested.
According to the Board, the crew of the German four innat
banque Pamir which sank in the Atlantic last summer with the loss of 80 ves, would have End a better chance of survival, hasl This autumn they will begin | the Pamir's Heboats been bright to experiment seriously with 3D instend of the dull colour of 1- transmission. It could be that tural wood.
year's Promis will be PASSED CLOSE broadcast over special aerials, One of the Pamir'a survivors, beaming sound from right and Guenter Hasselbach, said after left of the orchestru, so that he was saved, that ships had the new receivers can pour the passed close to his lifeboat with- music into the parlour without noticing it.
the same balance and fidelity Meanwhile the crew of a Ger- there is in the concert hall.
man freighter, Muansa, follow-
SO CHEAP
Already the
scientists » are saying that they con
turn
out a radio to take stereo sound for a pound or two more than normal prices,
The million-pound
industry
ed the Maritime Board's sugges- tion and painted Its lifeboats a They said the bright orange. pilot at the South Airlean port of Durban had Been the Muansa's boats in the fog before could make out the ship's he superstructure.
gamble on the new sound will Tests with differently colour-
می ہیں
ed canisters drifting on the sea begin when the covers come off have shown that a bright orange the How models view day. They will reveal canister could be seen twice as sterdo record players as cheap far as another of a dull colour-
as 20 guineus, sets convertible China Mall Special.
to 3D radio for less than £60.
The TV men may have bigger FLAMEPROOFING
screens, tidier, slimmer sols,
But the catch-word this year PLASTIC NOW
will be STEREO. Maybe you will not quite pet Moura
Lympany in your lap. But at TANY processes
Icast it will seem as if she is
HOLLAND
CUTS TIN
IMPORT
The Hague, Aug. 31.
Dutch The
Government announced today it has imposed restrictions Saviet tin.
оп
com-
A Foreign Ministry munique vaid the Government has been "forced" to take the step by Russia's refusal to be- come a signatory to the inter- national agreement,
COMPLIANCE
The decision of the Dutch Government, made in compilance with a request by the producer- members of the Tin Council, is based on the Dutch Government's
5.15 8.00
11.10
31.74 *
200 ค
14.30
135
1.524 1.33
2.15
1.00
93
0.10
29.30 25.40 9000 şi 25,40 1000 20.40 1000 25.40
1730 17.40 300 @ 17:10 21.40 2745 3000 #27
25 23.10 1000 ♫ 25.10. 1000 6 2930
23.10
17.30
209, 13.10 500 69 13
2000 19
1000 330
MISCELLANEOUS
INVESTMENTS Yonatste XD
18
1000 *100 a
0.25
Alle
On the corresponding date of 1957 it was 484.35; 1950, 502.04; 1885, 468.18, and 1954, 335.00.
Sales this week totalled 13,577,760 shares, a daily aver- age of 2,715,502 shares. These COTTONS figures compared with 12,270,243 | Textile shares and 2464,049 shares re- speclively a week ago.
Gains and losses came close to ahead of the losses. o balance with the gains slightly
Narrowest
573
The market was the narrowest 1,367 since Inst April 3 with issues appearing on the tape. Of this number, 634 gained,
106 held $1 declined and
There were 272 new changed.
and highs (or the year net
10 new lows.
The activity ceritred on issuca in the day to day news.
Cuntis Publishing look top place with anies of 229,400 sliares. it touched 124 and clused ut 12 up 3% points or more than 35 per cent. The rise came after the company nounced its major publication the Saturday Evening Post henceforth would accept liquor advertising.
Gr-
Bell Aircraft drew up into second place with a turnover of 208,500 shares. It ran up from 18% to 23% and closed the week
at 22 up 4 points. The
Entert
Gold Market
Paris, Aug. 30. Business in the gold market was at its lowest ebb during the week ended August 29.
The holiday period and light liquid assets reduced dealings, but prices again resumed an upward movement, China Mail Special.
Exchange Rates
market
Sterling notes (per Austrollari noted (per £1) Indonesian rupiah (per 100) Ham tien (per 100) Bingapore (Straits)
LOG
10.04
16.40
Strikes In The Auto Industry Would Be Far-Reaching
@
New York, Aug. 31. Strikes, which have not been an important factor in the American economy for many months, moved into the picture this week as a serious threat to the slowly improving business scene.
par year."
Strong Attitude
Most of America's glanl L- The companies are just as de- | the recovery, who want capital dustries- auto-making:
one coal-termined. Said
GM for top
expansion. To get the mining, steel production, etc.-- | oficial
money from the investors, the have have been covered by long-term In 20 years of labour reln-[US. Government would contracts between management❘ tiers work, I never have seen! to pay high Intercat, a polley and Inbour. These contracts GM as determined as it is his displeasing Congress. So the call for automatic yearly
'thuney mʊbably will be raised "escalator" raises.
from banics through sole of clauses in
short-term securities. which wages rise along with the
And the offers! cost-of-living
Federal Reserve System, as it Bgures,
Some observers wonder if this has in the past, will make money strong attitude means that the available to the banks so
they big. three have agreed to strid can
the bay
Government The auto unlon contract CX- together against the UAW, and securities, although in so doing, pired last May
and the
that strike against one would the Federil Reserve wul be ployees, members of the United | be followed by n shuldown at defesting its own anti-inflation Auto Workers Union, have been the olders. working without contract since
and usually for slowly increasing pensión benefits.
em-
on
The effect the U. 5. then. At the time the contract | economy of an auto strike, even ran out, the US, was still deep | against only one big company,
or
mcnsures.
-Requirements
do
In its recession and, union would bo far-reaching. The The Federal Reserve can strategists felt that the com-auto industry, directly in this by reducing reserve require- panies would welcome a strike, directly, decounts for one out of ments, thus freeing bank funds, which would reduce inventories every six jobs in the nation. The or by buying up some older of now cart Instead, the teel, robber and glass indus: Treasury securilles-hold-by-the- union and the companies have tries would be hit hard, and so banks. Presumably the banks been negotiating more or less would upholstery and gf course would spend all the additional steadily, but with no results. the many retail cutlets of the funda for the new Treasury industry-car deôlers, auto radio issues, but then the banks could dealers, accessories, etc.
borrow from the Federal - Re- Steel makers count on auto serve, using the securities as
Inflationary
Big Threa
It was geherally felt that manufacturers for 20 per cent collateral, and make available there should be a strike, it of the total steel volume, and funds for possible would be called against one of strikes would reverse their pre-credit expansion. the big three-General Motors sent trend to stendy recovery.
in terms of actual value, That there will be expansion. Ford or Chrysler-just og pro». duction started on 1850 models, almost 3 billion a week would of capital investment seems sure thus forcing the struck company be involved. Normally, nt to come to quick ferma so that start at its competitors old no get too models, the far ahead of it in sailstying the out about 150,000 units per week with a value of 3.7 billion, with another one-third to be added to translate it into ultimate re- tail value.
1959 market demands.
the now. The International Stails- production of new teal Bureau reports that U.S. automakers tur toti production may reach 138 to 140 per cent of the 1047-40 pyetzge by the year's exh. It was 120 in Aprli, its lowest point, 133 In July and 145 a year ago. Overall, production has recover- ed one-third of its 1957-58 losa and some experts believe re- covery in gross national pro- duction may be complete by Do-
Could Block
Sicel producers are as worried
|
SINGAPORE RUBBER MARKET
With the unexpectedly strong improvement in business gener- ally, it had been felt that a strike was less likely than over, be since the companies would eager to get to this market which all experts predlet will be, as the automakers They agreecember-U, P. I. a pre-recession lushness.
that even a short strike could That optimism was shattered block the orderly recovery of
mem- the stock market, and that settle Busters was done in the loost this week. Auto union unofficial ettinge
this bers, who for months have been ment of the strike would bring. moting at the following rato complacent
altun- Ns own problems, since auto- about the U.S. deitar (per
tion, were beginning to grow molive orders would then flood 12.36 Irritated at company tactics in the steel sales office and bring
negotiations, and “wildcai" (un- about an artificial shortage.. authorised) strikes were mount- At the moment, the steel. ing Some 11,000 workers were orders from automakers are on Idle today in scattered strikes. the conservative alde, and orderà More and more unionists were for peak auto production rates. demanding a strike a show the have not been placed.
The steelmakers also havé an companies they are determined
interest in to win their defbarida.
the - auto unlon Hetaliation, for the big con tracts with steel labour come up for re-negotiation next year, and, like the auto Industry, the steel industry plans a united front of hard opposition to de- mands by the steelmakers union. If the automakers cepitulate.to the union, the steel companbes position will be that much more difficult, and they argue that the infiation spiral will be that much more advanced.
Agreed Merchant Rates
strength centred on the com- pany's development
West German Deutschemarks, of a new rocket fuel ingredient.-U. F. 1.].Maximum Selling, 71 15/10.
I
COTTON FUTURES
ON THE DEFENSIVE
New York, Aug. 31.
Axed policy of supporting Cotton futuros remained on the defensive this past week,
finishing on lower ground for the fourth time in a row.
much as possible ny inter. national agreement concerning mtural resources, the Ministry said. Britain mado a similar Inavn yesterday.
An Economic Affairs Ministry spokesman stated that the Dutch restrictions work out at a 40 per cent cut in tin imports from the
weekend
irs
Singapore, Aug. 81. The Quemoy invasion crisis
strengthened the Singa pore rubber market con- siderably but New York's failure to react soon im- paired the gain and by the end of the week, prices were back around lust week's levels.
The Holiday Cutler Bath, rubber brokers, reported in its Weekly survey, said that the up- At the moment, steel is ahead wing in the week has been of expectations in its recovery, extremely quiet with the bulk Output last week elimbed to of Business in No: 1 shoots con- 1,800,000 tons, 12,000 tons Higherfined to switching out of Sep- thian expected, and output this ember into October.. But the 1,717,000 Quemoy Invasion scare, how- tons. Last week's output was at ever, look prices up to bð-cent- the rate of 62.6 per cent of a pound because of short. capacity, and this week's would covering and bull-buying. be 03.6 per cent. Experis pre-
There has been better
week is scheduled at
dict that production will be in
the 70's within 40 days for this week.
Anti-Inflation
}
en-
grides and fair business has been transact- ed in variety of typès with as yet little alternation in ring discounts.-U.P.I.
Bank Of England Statement
At Friday's close the list, paid mod attention to the 2 cents a pound the week
the previous ruled 10 to 65 points-50 cents developing samti
A significant change in the
quiry for remed to $3.25 a bale-lower than the Formosa Straits. Houtine atten-
tion was given to a continued į matkat situation during the preceding week.
situation and { week was an increase in un- A good part of the trade con- favourable arog bed on evening-up operations never from the toxtlie market. fixed call sales. The figure ruie | Sovitt Union.
before the
20,000 bates to 118,000 boles long
This was but one of the many Holland Imported 7,500 tons of
Pressure
compared with 485,100 bales signs of beiter business, which Russian in over the past 12 holiday. The New York and
last year. For some me, the again focussed ettehilon on the New Orleans cotion exchanges months-U.P.I.
will remain close until Tuesday
boon dropping anti-inflation fhi. Chlef July came under continuing coll sales havIN
prob morning for oborriCO of pressere with sellers presuming aching to low fast week. Thelem here is the expected 12-
increase, billion federal deficit aldificant that delivery, which marks the Arst
Indicales year ending Contirating wealmness in the end of the 1957-88 crop season, technicians thought, July, 1950, delivery dominated would become a dumping that more cotton is being sold Where shall the Government gei the market most of the time ground for unsold cotton at the to mills on which the price that money? Otherwise' tibier appeared to senson's end dire to the has not yet been fixed.
The best way would be to The an anti- prospect, for lower supports for
mid-August parily re- draw from non-bank In- be going through climax, following approval
such of 1959 under the new fast law. port, Issued late Friday, show-vestors,
Insurance the farm bill and the Jegisin.
ed a 12-pbirit drop to 38.34 companies, pension funds and -of The Jizly premium over cents from 38.55 cents in July Individuals, through Wir providing for the sale
sale October at the weekend ape and compared with 30.03 cents lode-term securities. But these With the legislation uncer-proximated 2 cents a pound a permit in anid-August" est investors are being courted by
a spread of year-U. P. I.
businessmen, made optimistie by
Consumption Of New
U.S. Rubber
Washington, Aug, 31.
Labour Day holiday.
collon for foreign currencies. MAN diretameproofing U.S. consumption of How & Wit's the fedslator under preparoit
playing Chopin on the plano plastics, most of which you have in the parlour corner. meet a series of spotiah re-
PLASTIC SCOURER
A POT
be
quirements. One such pro- cess is said to be especially affective whore household plastic fitments are concorn-
scourer of a plastic|ed.
to
rubber dropped about 10 per cent last month, thế] U.S. Government reparted: today, Ali natural and synthetic rubbor shurod about equally in the decliné.
types
of
on was 90,100 long tonis corti-
with
SALES OF US.
vrier 115od on
for the
next June 30.
COTTON GOODS SLOW
01
Notes in circulation
London, Aug. št. The Bank of England slate- ment for the week belded Aug. 27, reads as follows
Sterling 2,040,007,150
Publio deposits
Private doppelte government securities
cipt Qher accurities
Railo
-U. P.
Bank Of France Statement
New York, Aug. 11. "turn would come right after Depridanent stores belles fest in cotton yarn, prices in meat": called Cariona claimed to This is because, according
"of the market were softer than bylon and so the scientists responsible for de
The report said July consumpALES activity in grey Labour Day. That reasoning work ran the per cent ahead segments
the boiler that of a year agó, "with soft goods | reported to be shier, but buyers Hight it fonts on the washing veloping it, it does not affect the paced with 107,413 tone in June and finished cotton many and
converters needed liner moslly responsible for the silk, operated cautiously, op*.
Paris, Aug. 31. The Bank of France slutecent up water is being put on the colour, transparency, or tlund 108,493 In July 1047, goods held to the slow gait, goods and well have to cover. increase, which was called more } parently waiting to get a better export market by British cency of the plastics treated.
The slump in US automobile adopted several weeks 4 teal They thought a "deckled"
Other weaves-Fernbined. sicep« | thờily pl scusotish- gendra,
kien of their fail business pro- for the week ended Aug. 21, firm. Unlike many pinatie do- The operation of the process and igro, patiduction Wdo the -right after tension in the Improvement in the movement
pects before entering lile im-rendis og followers vices which can be destroyed depends on the use of a chlorine chief factor in the decline.
Prices on most constructions portant new yare engagements. real geld nofsinga, by heat, this naturer, which, sand phosphate compowid · In
of finished fabrics must precede held stendy to fit. ewhere,
Total other cortensies bi red, yellow, blua or green, which on dryt substituted phos the end of July totalled, 207,101 Tradvis bocetno more holding extraordinary buying in what do the woolen trede, lesion pro can be sterilised by boillag for phate is used.
bring and duck weloch marked account, noted filled activity due to Mabilisa long tons of which 69,077 tonim minded, untiespoing the tabour grey goods. two minuted, Tho crds are It can be effecilvely used, ik were natural types, Khan Day observanco- cus Monday. The strained volume of coft priten "up" Yetu cant: DƐ WID, OF
“worsted -.......pkavis. - - Epinndes- nenied by a weld so that it will is claimed, without affecting July coming tim of natural | Offers abounded, meanwhile, on goede paler at the retall level, more. not unravel in use. A fürge operational performance, for the dry rubber was dower to 29,10% when cho cries buying movement (jandi Indicalionar-the chain stores The picture in wide industrial | word copocted, shipping ognicial | mask naken in circula Initial consignment has been demo-proofing of both electrica) | tons, from 33,593, trim 29. June, lai mari to get undervis sport are intercated ing now abelo obtică virüs mattered: by Labour" "dis debata në ai nicis tikler vate sent to Canada and another to appliancos, fektohe equipment Latex dropped drómi 0,804 forwa Opinion on that score ditorech. Aren, VETE olher - favorinule suncevistiken dry--ther wutomobile vaimse debe a apo backing voet
|ansť bežkiroven equipment,
Jude to 4,601) in JulypsUPI. 7). Some
buttom-UP.I
Scandinavia.
U.S. stocks of new rubber at Middle East relaxed;
About sho, straw in the wind:
Bindustry.
}