TRANSPORTATION
THE ROYAL YACHT BRITANNIA IS A FLOATING PALACE
By TREVOR BLORE
THE elegant Royal accommodation in the 5,760-ton Royal Yacht Britannia makes of it a miniature floating palace. A glistening white hull 400 feet long, with sharp, yacht-like bows and a blunt cruiser stern, is set off by a gleaming gold band below the upper deck, and buff-coloured funnel and three masts all with a smart rake—or backwards slant.
MEAT-SHIPPING
EXPRESS SERVICE
London.
The Royal sleeping apart- ments are situated in the sheller neck, the uppermost one of the : กาล ก superstructure, tween
and mizzen innsty. The main From this deck the main stair- vase cuns down to a vestiblue | ground which are grouped the thawing rooms nt Queen Eliza-
Townsville use of Star (10,725 tons hash, the dining room which
docked here, with a cargo of Australian chilled beef on a now express meat-shipping service from
Queensland, Australio.
Her whers,
the Blue
Star
Jaue, and Australian meat si
believe the
new service
PETS offere Australke the chance de eonipete mich anore stroandy with the Argentine on Britain's mujor beef suppilers.
The Blue Stór Llne by kend- ing ships on the life-mod Tile twee the north coast of Australia and New Guhiwa, is Jopping a trium of 15 days, ond a maximum of 25, off the wu3| 45 to 50 day-rum." NEW SHIPS
Dew
FIRIT
ships, especially built for the job, are in servies, cach carrying eleven to twelve hundred tons of chilled beef with space for more refrigera tion if the demand ariseri
Meal shilppers foresee it
susu serves
on pecasions as a
cinema, main drawing room and inter-renga which extend across the full width of the superstruc- AIR-CONDITIONED
Ausher fight of the main staircase dawn to the main deck
brinus the visitor to the cabins
k
THE CHINA MAIL, TUESDAY, SEPTEMBER 2, 1958.
UK CREDIT DAM BURSTS
Labour Day
All markels were closed in the United States yesterday in observance of Labour Day.
HONGKONG STOCK EXCHANGE
Our Own Correspondent Business done on the Hong- Slock Exchange this morning Terrorbed 10 -137- proximately $371,000. Noon quotations and the morning's Trenertions were:
DANKS
Sales
Shares
Muyers Bellery
700
207501
14
$155.0
HK Bank INSURANCES Bakn Lemtird 270 SäppING Wheelock DOCKS, ETC.
Wharf Tack Provident.
JO LAND, ETC. HK Hotel Kind Realty RUBBER Amalt,
Triest
A. Tawah. Sungala
Bigger Impression
Than Cohen
Council's Warning
By RONALD BOXALL
London, Sept. 1. This was the week when the credit dam burst, Bank after bank announced schemes to lend money for the purchase of motor cars and expensive household appliances,
Thero personal loans will be in the process of sulting the
£500 with up to
no security, trend better into line with the two your to repay, five per trend of productivity. But I cent interest and debt to be ran right into trouble with the
Unions wiped out in the event of the Trade
with its next borrower's death.
statement, that, "It is highly desirable that Use process should be continued next year."
Hire purchase finance hoes moved quickly to forestall this new threat to their business, and "death clauses" introduced ime contracts. One large furni- ture company announced In- terest-free hire purchase "pend- Ing consideration of future Dolley,"
Swamped
Fo
The argument over expansion and whether or not it is desirable to take positive INCOGLITES encourage it, does под however,
concern the relation between productivity alone. other brands to be consideration in planning future policy.
BOGHLAS.
and
There ard taken into
All this has naturally 'mude a much bigger impression than Cohen Counell's warning that further substantial
Assuming that there is no
measure i
The teman should be expand-raise home demand, the Council
and with expects personal ed "grunily caution."
consumption
to the nor future to remains almost #table with Jower And it completely swamp materials costs and profits of the Treasury's almost apologetic setting rising Inbour
for Retail prices are therefore not reminder in its "bulletin 100 industry" that sales of cars, re-likely to rie, and
may even
501 P 72
11.29 2470
20.20 20 00
U 500
12
1325 1571, TX
22000 en
155
55
· TEKNI
2.15 110
Trane XI
24 1092 Tu
303 10
Irigerators, TV sets and other fall 25durable-consumer-good”) – ex-
300 **
25 panded by 64 per cent between
!DA
C. Lagbu
(th
1790 176,
50
300 m
2004
BOG
201
Beet.c
+
27.70 27 (10)
1000
#1 w
500 G
for members of he Royal House- | Yaumati hold or guests. All rabins are air-conditioned .
The Royal quarters Include a nursery scellon für Qie Prince of Wales heir to the Throne...and his sister. Princesa Ann", *This fael, one of the Arsi was, in scetións ever usand, as the two children
the made
inniden of the Britannia voyage Tobruk, North Africa, to meet Their parents returning from
- Commonwealthi Lowr 1954,
Mean M Telephone 225.30 231
INDUSTRIALS
2ND
STORES, ETC.
Dairy
in
more She
Watan Lane, Crew. INVESTMENTS Yangleze.
17 10 W
13
5.16
Britannia, however, is than a Hoya Yacht. was specially designed to serve aa besgutal ships in an enwr- gency, mid could quickly be con-
weekly service it other netverted to this purpose. Join in the scherne, and Mali- She was built at the famous elpale Bust Australia could give Seolis shipyards of Julia Britain almost as regular Frown and Company (Clyde- supply as the Argentine,
(bank) Ted., on the River Clyde,
Informed of the new service, | birthplace of the world's largest
All
DECLINE
COKL
Fixed investment is expected
1950 and 1957 (despite the to fall and investment in socks
17.00 credit squeeze that was in forea and in worse in progress, is an 1720 during most of that period) and
1.KE
considered.
to
The decline. expenditure on goods and service is expected to be roughly stationary
deemed likely
that was "worth examining" Government 1730 because "such a large propor- 210tion" of these goods are sold on 21.10 credit,
$1.70
25.20 2010
ARRESTED
Argentine meat sourers in Lon-luxury liter, the Queer: Eliza. IN LONDON
don said that Australian meat heth, and was completed in would never be a substitute for Jamiary, 1034. Argentine chilled beef. * PEDIGREE STOCK
cun
quality.
A fenture of the design of the Royal Yacht is her stability in "Cattle in the Argentine are heavy weather. She is not only filled with Denny Browa pedigree stuck," a spokesman
"Australia Raid,
never abilisers which prevent rulling, compele in
Even stability is also proved by allowing for their shorter run, the use of aluminium for bridge and funnel, which the bert still takes longer to strehure
each Britain and cannot be in reduces the top-weight of the chup and thus makes for mylures. the stune condition.
motion in a heavy sa.. STEAM TURBINES
"Even if Australia improver
is herds, now, with pedigree
match can
number
These ore the days of analely for Britain's economic planners. Their policy of damp- ing down demand has succeced- ed In slopping inflation. But national economy is now polne like a climber on a steep moun- tuin. T
can go up or down, but it cannot stand still In- definitely.
The trouble is that no one can be sure that demand will resume its previous ascent after it pause for breath, or whether i rescue operation will have to be organised.
Assumption
Exports re fal.
Deterioration
nnd la
The Council predicts "a cee toin deterioration" in balance of payments position and a "less favourable trend" in gold and dollar reserves.
Records at the desk
14:
£ MILLION
12
10
8
6
14
ESTIMATE
TOTAL
10
8
OFFICE MACHİNERY DELIVERIES
1955
EXPORTS
1956.195750
1958
0
Britain's makers of office equipment-typewriters to add. ing machines-are proud of their production record, and with good reason.
This chart highlights their progress in recent years, and the part they have been playing in export marketi,
RUSH TO BORROW
MONEY IN LONDON
UNDER NEW SCHEME
A
London, Sept. 1.
Britons, with their eyes on new cars and home decoration, rushed today to borrow money under new "personal loan" schemes sponsored by the Midland and Westminster banks.
town on ordinary Midland Bank spokesman counts and
that
branches in advances would be cut by one raid
some Lotion had Central
been quarter per cent "rushed off their fect" on the Reuter. first operating day of the plan. Managers and assistant mana- gers were kept so busy they had to go without lunch.
row
Bank's Aim
up
The Midland Bonk, otte of Britain's biggest, sandanwod un- Inexpectedly
Last week that. It would allow customers to bor
£500 lo
without security, repayable over twó years. This came as a big sur- prise to a country accustomed tight-fisted for many years to policy on loans by both banks and government.
It poris out that a number Tradustries have important
and it expects used capacity
de them to have more unless mand increases,
The Midland Bank's nl The "Three Wise Men", s
was to capture some of The the Council is sometimes called
£500 millon business done (though not always politely) annually in the hire-purchase are not certain that the removal of such goodn as automobiles, of restrictions imposed during television
BOLS, refrigerators. last autumn's sterling crisis will The
Westminster Banks and give suficient encouragement to
Barclay's Bank quickly followed business confidence and so to the example set by the Midland. private investment. Bat they Barclay's beat the startere un point out imi Government las
by launching its personal loan u ready means of encouraging scheme last week. investment in how means of production and of stimulating consumption.
+
#
all round.
Signs Of U.S. Business Improvement
Washington, Sept. 1.
A majority of 195 indus- tral concerns participal- ing in a survey see de- finite signa of a U.S. busi- improvement, the National Industrial Coji- ference Board said today.
Bul the conschou. ÍR that there will be no misbstantial or sustained rise in sales and profit levels before the turn of the
усле.
The low point in busines April activity cume In March. und May for some lirns, while others are still seeking por positive signs that the business Board upswing has begun, the
sald.
On
More Goods
the whole, it said, the firm's survey expected "to bill more goods in the second half of the calendar year than the Art.
More than half the firms (50) per cent) anticipated a greater the last six value of orders months of the year. But 22 per no change, and
cent predicted the remaining 22 per cent anti- cipated a further drop in orders. Companies in the non-motal Industries generally anticipated increased
the last orders in half of the year.
Only 47 per cent of the arms- Koup in the metal industry
gave similar answers, however, -U.P.I.
E&A
P.OB.I
COMPANIES
PASSENGER/FREIGHT SERVICE
*
PENINSULAR & ORIENTAL S.N. CO.
*
*
*
re- mulat
Ontwards
"KARMALA"
"SOMALI"
"CARTHAGE”
"SALJETTE"
"SUNDA"
"CANTON"
Leaves London Die Nottakong
Filled 10/7
2nd September
As the moment, the policy London, Sept. 1. makers are working on the After last week's shake-out | Jammer assumption. Some ro
that strictions have been relaxed, there were signs
nids to bul direct
expansion, buyers were returning to
they feel, should be avoided the markets. Not only was while there is the least danger the fall arrested today but of renewed inflation. So de-
Main Loans many industrial equities mand is still being restrained -- by high taxation, hire-purchase gained ground.
The Westminster Bank restrictions und so forth,
On the other hand, the scope ported today
that the Broker:
But there is a growing school for Increasing demusid without seported F lange ut inquiries fen of thought which argues that straining resources, or raising loans asked for today ramped from £100 10 £250. Most despite the straint is no longer necessary, our costs, is likely to be
Popular reasons given by The body of opinion overestimated, they say. petual business Still another vi
In would-be burrowers were de- holds that not only is restraint | case expansion of home
sire to buy car and furniture, Fun unnetussary but that way
mand would tend to reduce the
build homu rages and securities the risk of a depression by not | balance of payments surplus,
redecorate homes, active
to measures
Taking all these factors into
the Council belleves yet give spelle
Neither of the banks could totals of the that policy should alm at an
loans applied for today, since Foreign bonds and rails were Productivity and Incomes, pre-axis gradually but wit
pf thousands featureless but small gains pre-sided over by Lord Cohen; proceed "gradually and with nvolves throughout the coun- dominated" $11 collar stocks.published its second report fast caution" and avoid a return to try. U.P.I.
weck, And it came down fair levels of demand similar to end square on the side of those those of the peak years of the i who believe that demand should past." be held in check.
stock, it will lake many years The Denny-Brown stabilisers, clients before they
the now being: fitted in moist imodern | quietness
hiners, ate steel fas whieht move | the undertone was firm. quality of the Argentine,"
The Australian Meat Bourdin and out of the hull on either
Government sold that standards of quality i side below the waterine, con- were deckles, itimately, by Sealed by gyroscopes, to check steadied after last week's fall taking the meat trade, itself, And the roll of a ship. In the and occasional improvements of stimulate demand. the Bourth wn content to Britannia the single-fin stabili- 1/16 or were recorded. lel
meat sets are said to damp down a 20) trude speak for the Australian degrees roll fo 11 THUKU cxpolia
fat: Britis
A Board offcial drew atten- tion to a report in the "Meat Trades Journal" on the arrival of the first consignment under the new scheme.
degrees,
siz
Foreign Cars
LAS
The propelling machinery con- sista of modern steam turbines | which give the Britannia 2423 economical cruising speed of 15 knots, though she can easily This report said it
work up to 20 knots when re- "En exceptionally bright condi-
quired. Like naval sloups, she tion-as good as any Australian has plenty of fuel storage, which
Los Angeles, Sept. 1. beef yet
at Smithfiels
gives her a lont cruising range. More than 26,000 forelim cars (Londča meat market) and,
Part of the deck la specially were imported through what is more important, on a strengthened 10 cmbark and Angeles harbour for the 12- par with the Argenuine,”—China operate a helicopter which can month period coding June 30- Mall Speetal.
be used for a variety of pur- an increams of 50 per cont over poses, including the carrying of Inst year, the General Manager despatches to and from the of the port unstoimeed. today. HAND-PICKED CREW
Bernard J. Caugh said the Crew of the Royal Yacht is 20 foreign vehicles represented 30 THE American created in a oficis is inner-picked
Every marks from six countries, in dustry is Interested
member is hand-picked from the cluding France, Germany, Italy, Insulating material-a combination of urethane foam very top of his entegory in the Sweden, England and Japan.
New Insulating Material
now
Queen when she is afloat.
Hayal Navy. Each must know
art freon-which will make it bla rticular duty down to its
possible to save
considerable nest points, and be ready to net
of
U.P.I.
space An Insulating layer up his own Initiative ut any Exchange Rates
the now material one inch thick la comparable
In insulating value with almart three inches of conventional insulation.
Refrigeration ships, in pERI- culas, would
bonent from the Increased cargo space which the new insulating material would malce possible.
time. For, traditionally, there
was done Dudince
In the local Unoticial exchange market
is no loud shouting of orders in a Royal Yncht.
If you see along a quay In morning at the following ratest- some port a British naval rating.S. dollar per 1).
Australan notes (per £1).
in normal uniform but wearing Sterting votes (per £1) rubber-saled white shoes, you indonesian rupiah (per 100) cup be fairly certain te is one Sim test (per 100) of the clite
the Singapore Stralia Drktamila.
KTUW
10.04
12.57
It was against this background account,
Council that the
on Prices,
branches are
The tractor division of the Ford Motor Company limited announced reductions of up to The Coundl's report Was The Council is worried that written before the banks made
one per cent on hire purchase On tractors and wages are si rising faster their "loons to everyone" errer. interest rates than productivity because of We shall have to wait for six unplements. Inflation in the past.
months to hear whether this Later the Irish Banks' Stand- It says this year's relatively accords with the Three Wise Ing Committee announced that low level of wage increases Men's idea of "caution.”—Lon-from close of business tomorrow should be thought of as a stage don Express Service.
rates of interest on deposit ae-
COMMODITY
FOREIGN EXCHANGE
LONDON
Closing rates were;
6.10 New York
Montreal
20.00
1.00
Bruncli
Amsterdam
Frankfurt
Milan
Qalo
Stockholm
Zurich..TAKTAI
230 3/16-2801 2.737/16-2/20/18 £9.3844-10.701 1.30,00-130 1211 11.04-11.701 17503-1730
20.00 14-220.001 24/4336-24/4jā 14.2016-322034,
Copenhagen and athem unchanged.
COTTON
LIVERPOOL
RUBBER
SINGAPORE "
PRICES
METALS
London, Sept. 1. The in market was
very
Spot
The market opened very quiet, trong in the morting. Volume Was mengro with jumped 12% and three-months dealers taking only neademir|121⁄4 both to the common price interest in the market.
Futare closings were:
of 745.10.0.
Turnover was 210 tons.
Spot
buyers sellers
3-month
03-15
huyork
-bo
sellers burber
No, 1 rubber per 10. Sept. BAY-0211
Out inja-2}}} No. 2 rubber per lb. Sept. 8014-01 No. 3 rubber per ib. Sep), MAIM No. 4 rubber per lb. Sept. 12-73
Epot rubber unbajed 2000 3119-82 Blanket repo
No. 1 pole érepe
.. LONDON -
The rubber markel wis dili with spot quoted at 291% poneo 1. Prices;
Culton Burture clonings, In No 1 R peace per Ib; were at follows:
American Ostriet
Oct. Deg Del/Dec. OCV/NOV: 23.00: /nt 23.07:
Jansenr Mac/Aut: 31.4; Stay/fume: 33.90: 120 July/Aug: 13.60.
Mixed Captio Oct/Nov: 24.12; Dec/Jay, Mac/Apr: 24.37; May/June: July/Aug: 1.47.—V.A.1.
DURA
740
London, Sept. 1. Copper, Teed and zinie wêre Ram} but quiet in. the morning, and sil were steady in the afterngen., Copper
Buyers Sellers skunt
203 2001
2034/
cuitement bondaterin
232-24 24-3416 24!1-2313 2416-241
3-month
Les latinit
et.
July/Beat.
General market, eit bosies vorter Eine in haar 14.31: Beut. Oct. «nd Nov 93.47; || Kristo creps thlok
Sept. Doc.
Sept
Dec.
*
Home Wardy
"SURAT" *
"CARTHAGE"
"SOMALY"
"SALSETTE"
"CANTON"
Eth August 2141 Auguri
tod Augu
Inui Saplember
2nd September
10th October
8th September 2015 Octabar
17th September Pusli Outubr
1.Caves Tiongkong Due London
19th September 23rd October
26th September 27th October
JB cober 2311 November
2nd Octuber 17 December
24th October
24 November
Via B'pure, Penang, Colombo, Bombay, Aden & PL SNA.
*
"SUBAT" And "SOMALY" cali S'pore, P. 'wet.. Penang. Aden, P. Bald, Havre, London, Hamburg. Rofterdarn & Antwerp.
BRITISH INDIA S.N CO., LTD.
"OLINDA"
due 12th Sept, from Japan 1211s 13th Begt. for Biaspora Rang
Rangoon, Calcutta Chilegong
"SANGOLA" dus 12th Sept.
salle 13th Sept.
from Calcutta, Rangoon, Penang & Bingspore jor Japan
P. `G 0./B. I. JOINT SERVICE
"OZARRA”
dpe 10 bept. trema Japan malis 11ts Sept.
Cochin,
for Singapore, Kuwalt, Dawab, Khor- seamabah & Karachi
EASTERN & AUSTRALIAN 5.§. CO., LTD. -
"NELLOKE" dur 13th Sept.
from Austrails :
alle 150 Ect, for Japan
"ABAFURA" due 16th Sept.
from Japan & Shangital azils 21 Sopl. für Australia
All Yonele havo liberty to sail at any ports on of off the route & the roule & sailings are subjpet to changs or amendment with or without notice.
For full particulars apply to i MACKINNON, MACKENZIT & CO. OF HONG KONG LTD. Telephone hos 977214.
*