'OPERATION PAPERJET
MAKES
GOOD PROGRESS
IN 1960 the K.L.M. DC-8 jet airliner will fly IN
in seven and a half hours from Amsterdam to New York and in six and a half hours from New York to Amsterdam. These data have been obtained after making 408 flights on paper in the past eighteen months.
This "Operation Paperjet" maximum payload and strong yielded many useful data and head winds, passtagers or suppo I is intended to organise scant will have to be left behind. Fur- thing similar-but still more lunately the strangest wintis realistle-by asing radar ete. ocear in the of-reason the
"Operation paperjel" was winter months), originally started in order to
prepare both the K.L.M. Rying The temperature appeared to personnel and the technical de-have little effect upon the execu
However, it partments on the ground for the ton of the fight.
to know the tem future jet services. The "flights" is important
31 the level of the took place at Schiphol Airport, peratures
at the airfield Amsterdam. They were carried enging-intake out by
wumber of cupinine who before the take-off, as well as North the temperature which will be regularly fly Di
felt fter the climb to cruising This is because the
Atlantle route.
de-
fire aft
•
THE CHINA MAIL,
THURSDAY, OCTOBER 2, 1958.
MOOD
CANADA IS IN BUOYANT SAME BOAT AS AMERICA
BY SYONLY CAMPELL
Montreal, Oct. 1.
Canada and the United States seem to be
in the
same position
IN LONDON
London, Oct. 1.
The stock market remained in a buoyant mood today despite the overnight an-
nouncement of a further fall in Industrial produc- tion.
GIR-edged securities reached
for the new high
year sparked by firmness in sterling
and expectations of lower in
thoroughly" dangerous and unsound but probably
bullish. alright and var
It is not the same nationary sentiment as it was in the first half of last year. It seems to be much more the seer weight of money.
of
19
of
The money that ought tons in the US, the Canadian going into the New Your union are capable 2 is adding some of their own. edged market, actually
coming out that;
In Britain, when cool or any market, has to go Bonether,
other market Canada is one of the scarcity to glut, even the mili- changes from into which it presses
Lant tions tend to chan their tune.
In
Curasia the
A common viewin is that the prematum in Canadian dollar ought t down because its mijn panty support the Canadian Issues in New Yor
were converted into (dian dollars has gone; for sent, the whole New Yeni market has Kone wil wind.
The Odds
But the odds are the
terest rates.
Os led the general advance
a traders were heartened by uneasy
withdrawal of troops from the Middle East. British Petrofeum jumped 6/- and Burmale 4/..
INDUSTRIALS Other Indu/tricia moved
with kibet
Trans-Atlantic favourites pacing the rise,
on Wall Street, flecting the bullish sentiment
Coppers were mixed but gold shares responded to local and overseas demand.
Wall Street Declines Then Rallies Again
New York, Oct. 1.
Stocks declined to mid-session today and then rallied with
prices regaining
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
about half of their losses.
Trading quieted late in the Owen-Illinois Qisse
Oxford Paper Co.. day with the total for the Pacify Gea & Eleo. session below the 4,180,000| Pan American Airwasn
Parmosini Piątures shares of yesterday.
Parko Davis Co, La
There were several irm spola Penny 3. C. Co...... throughout the list late in the Philip Morri
Fenn, Bolt Co. day-Universal Cyclops Steel, Procter & Gorable Co. Simmons Saw & Stool in the putting Plate Glam stees; Allied Chemical Dis Radio Corporation Pont, and Union Carbide in de Corp. Pret.. the chemicals; General Electric rubllo Siret
Roynak Metal In the ficctrical equipments: Haars, Roebuck & Co. Ealon Manufacturing In the shell Oil Co..... auto equipment; Deore in the Hains stog. Paver farm implements, Chesapeake Sinclair 013
Bocony Mobil1! & Chlo and Great Northern in
Solar Aircraft the rails; and Vick Chemical in the drugs. Oils ruind higher.
Weak -Spots
the Ave- their
by
North America they change it only when
also depleted funds are some previous strike, coupled with the general effect of in flation in eroding all monetary nesets, strike funds included.
At the moment Canada has. in milder form, the hangover
the US. from rald- | Juno onward-the Indigestion of a
that hit
massive Government financing operation, groomed by
to massive Inflation of bank
money.
her
via
can money will conte stream into Canada channels, and probably Europe.
To n surprising resembles the flow Bush money to South Afro ?," 1948, by British peort vie were even more South African politics a their own.
It could seriously that Canada han er infintionary problem: US.. plus some of her
On the basks of actual weather; aftkite, forcensts for the high alfitudes disicnes which must be covered these airerait By, from the starting point to the I which Hight plan was drawn up in the cruising astule largely
This pends on the temperature. presence of an instructor. enabled the caplain to carry out |
When the his "fight"
present seated at his desk,: inaking due allowance for the wave to land at an alternate air- dato on actual weather condi-pert owing to bad weather can. him vinditions, they mostly do so when Ilons, which reached teleprinter messages. With the they have descended to a much help of these data and the per- lower altitude; plots of jet air formance of the aircraft itself, craft, however, must take their le could work out his position decision to and at an altitude on the big navigation chart ar sirport while they are at the North Atlantie, the amounting altitude. This is clearly
by the at fuel user and finally the de-illustrated
On coming down to lators which might to be taken. example:
10 11. after descending from ECONOMIC
36,000 it. to 10,000 16., and cis- ng read there for 15 The DC-8, which K.L.M. is minutes, the aircraft still has going to 380 in 1960, is most enough fuel to cover 630 militancy economie when flying at the miles after climbing bark to maximum height which can be cruising level. Immediate diver. attained in conjunction with its sion for an airport from cruistat payload and the temperature of altitude (1.. without descend- isidė With the ing) gives a diversión possibility payload this altitude of 900 miles.
the пг
Maximun
will be about 32,000, fi, while
America doenin
qued
e
the
Certainly she has more ond better Kovernment than the but that may not be U.S. saying very much. Her cut- rency stubbomly keeps an un- destřed premium over the U.S. dollar, which is itself certainly overvalued in International cost comparisons.
National Rate
Lead and zinc issues im proved on reports that US, is considering alternatives to its import curbs on the metals.
Dollar stocks were mostly mixed, wafle Greek and
... Japanese bords were higher-
Industrial
Production
In Britain
London, Oct. 1. Industrial production con.
Business done on the Hong- kong
this Stock Exchange morning amounted to approxi-
There were several weak mately $336,000. Noon quota-spots too, including
point loper, Lukens Steels: tions and the morning's trans-
Wamer; Lanibert, Zenith Radio, Philadelphia & Reading, and Pardee Transportation.
actions were!
Shater
TANICS
jik Bark
SHIPPING Wheekick.
DOCKS, ETC. K. Wharf Buck
Sales Buyer Sellers
720
.CHA 5.53
The Immediate excuse for the 765 50 730 selling early in the day was a report that the Federal Reserve plans to raise its discount rate again. This could not be con- firmed because the Fed. does not reveal is policy or moves in ad- 100 vance of making them. 500 11.30
PG
43 Provident.. #1.25 11.30
LAND, ETC.
Henlly
1.125 15000 1
5000
300
South Puerto Rico Sugar Southern Co. (The Southern National Gan Southern Railway (Com) Standard Brands Btandard Oil of Cal. Standard Of of Ind Standard Of of N Sleep Rock (Toronto Exge.) Sterling Drug Co. Stokoly-Van Camps, Studebaker-Packard Carp Sunshine Mining Swift & Co. Texas Co....
Teatrin Inc... Tide Water As, Ol Time Inc.
Tri-Cont, Warrenis Twentieth Century Fox Film Union Carbide Union Oil of Cal. Union Pacific Railway United Alterati United Gas Corp. U.S. Foil "Bu
At the low prices losses ran to more than a point. Trading U.S. Gypsum Was nelive and for a time this US Line Co. disconcerted the bullish ele- U.S. Rubber
135 men: which don't like 10 wliness active selling. But new 165 buying was attracted when the 103 market hac receded only
moderately.
1 Hotel.. 21 21.30
100 ml 21.00
FSK La
Z00%
21 5000
Rumplney?
14.C 1:25 1375 €300
RUBIER Amalit
... 1.623
1.636
រ.បករ
'UTILrries
Tran... 24.04 21.00
500
110
30
Youmati Light
14
17:20 17.30
Truxi
A Tawah Sungala
tinued to fall in Britain ́in August despite a re- covery in business con- For international staf move- fidence, it was reported Star Forts.
and similar
today. purposes following Canadian labour ma x mee tents
some leading Canadian Institu- The Financial Times Index of thelons (including some banks) Industrial production the use a national rate of $4 to the August was
at its lowest for pound.
two years and four to five However, none of this may points under the Index a year
Decisions go. matter very much. are based on the facts as they are believed to be, not on the facts as they are.
the most economical cruising During "Operation Puperje!“ altude topy run up to 40,000 11. diversions had to be made ut 15
as the weight of fuel decreases tates, of which in cases the
en route. The pilot must always weather of the place of destina try to fly at the most economication was the cause and in the other six cases the weather en :ltitude.
roule
Flying at a lower nititude is
practically always undeşimble.
it a part of the Wight were to
32 carried out at an akude The Airport Which Is
32,000 £1 Instead of the most rectoralcal altitude al that
snament (e.g. 36,000rt. }, there Below Sea Level
must be a more favourable wind.
af 12 miles per hour to make)
it worth while.
serious than America- tion of Caundian caps latter is selective labour side is pervat On top of import
from
much rent
New York Cotton Market
If it svere definitely estab. Ished that Canada is wore run than the US. (which is prob
It night not ably not true) matter a scrap.
The Canadian dollar benefits
Electrie 2480 (R) 13.00 27.60 Rim.. 1993
for Tel.
Based on n 1948 equivalent of 100, the lex stood at 133 to 134 135 in the preceding three months.
IMPROVEMENT
The Financlai Times added that September "does not seem
to have shown may improvement
in the came way as sterling on August," and "Indications are declines may be that the world is so they dis- that further
over jti recordeil Hiking the US. dollar that
hardly bothers to think about montha," any other
Poopi currency.
the next few
It noted the greatest decline in have made up the minds that output of crude steel, which rant Canada is better run than theus inuch as 10 per cent below un-US. Overall it is probably true, last year. But it said "almost despite Canada's terrible handt- all sections" of the stee! Indus- dimculties." Coal cap of being dependent on potry "are in
New York, t. I. Heavy loan enth
favourable crops and
jet
a broadening inpry for textiles, al cos lo- to keep colton day futures on an age for
tien US. markets in which output was also down, and Canadians have no votes. True motes car sales are "showing
Financial Timps
+
INDUSTMALS
2000 * 21, 2000 N 2
Middle East oils were strong spots on the moves to withdraw 21 0 U.S. troops from the area and 162 Irom what appeared to ben belier situation in the Far East. Royal 053 17.37
4317.30 Dutch led the Internatiorul 2007 2 vila higher in volume pod 1833 13.60
I made a new high along with Gulf Oll and Jersey Standard.
24 11602380 strength
Cerent... 2.10 22.00
TORES, LTC, Dairy XD. 13.90 Walau
.. Crew COTTONS Textile
... 10.00 11.30 13.20
3.00
MISCELLANEOUS
Ch. Fait...
INVESTMENTS
Int. Invest. Alllect
Exchange Rates
Burl was done In the
market vinofficial
exchange incrning at the following rates
Ừ.9. gäller (per $1)
Safes today on the American Stock Exchange dropped to 1,080,000 shares frem 1,220,000 shores traded yesterday,
Bord volume today amounted to $5,440,000 us against $0,200,- and yesterday.
Dow Jones closing averages
were:
30 industrials
$30.04
20 tails
143.30
15 uti
00.35
(6 stocks
40 bonda
189.28 80.03
Comm. future price index..
131.19
Closing Prices
Alden Inc. Key.
Allied Chemicos
Alled Milla krve,
'21
Gay
Allis Chalmers
5.79 Arn. Brake Shoe Alrtine
Sterling notes (per 23), po Australian notes iper £1)...
10.01 125)
Enid.
Simm tical (HOT 300) Singapure 18{ratis)
20.75 100
or false. It is taken for grandes signs of seasonal weakening." Indonesian rupiah (per 100)..
that is what counts, China the HONGKONG'S new
Most of the piperjet Nights airstrip stretches more were carried out along the than a mile and a half into "great circles route" he the shortest route as far as didance the sea, but only one airport
is concerned, víz via a point near in the world in below sea the south roast of Greenland. level.
The flights were made of erula-
is
Ing altitudes varying from about The airport with the minus 30.00 to 38,000 ft. The maximum altitude Schiphol, inter- altitude for the DC-8 (40,000 ft.) national airport of the Nether- was only reached in two of the lands. 408 cases, when the flying time was relatively long.
The average dying time of all the lights from Amsterdain
out in vac New York carried
year was about 71⁄2 hours. How- ever, very short journeys taking only 6 hours 56 minutes also occurred when there was no tail wind or head wind throughout
the flight, or longer journeys of
& hours 40 minules when there was a head wind of 90 miles per hour.
FLYING TIME
The prevailing westerly winds on this route
Airliners take off from Sch-
more than
12 Phol's runways feet below sea level.
A century ago Schiphol was part of the ocean where a naval battle was once fought.
But in 1852 Dutch engineers drained the area and surrouruled it with dykes. SOGGY SURFACE
Schiphol remained a suggy surface of grass until 1917 when the Government established military airfield there.
a
Later KLM Royal Dutch Air-
the third sext in IL
row.
At the close the aded up one to 13 points market opened up twp "to rg: points. New Orleans close two to nine points.
Achieving the novels in almost two month March delivery crossed 104-cent line,
since its highest vol August 8. before e market levelled off,
Unfavourable and rainy weather, and a ligange fore. east for freezing peratures, canned traders to zĺty recent optimistle crop expations.
SHAVED FF Statisticlans fral between 500,000 and 7600 bales have been shaved-off a crop pros- poet since the government estimate for a more then 12,000,000 bales.
October field atively m buyers of Marci wo delivery notices
the were and OT
Mail Special..
U.P.I.
COMMODITY PRICES
COTTON
NEW YORK
Prices of cotton futures closed today as follows:
Australia
New Zealand
South Africa Argentina
LONDON
Closing rates were:
New York
Muntiral
Amsterdam
Brunel Frankfurt Millan J'att Stockholm Vimina
30.101
34.99
Zuricia
30.74
36.83
31.09
7.10
apol Out.
Det. Mar Mar July
Dec. Mar
NEW ORLEANS Prices of cotton futures closed
30.00
30.70
35.24
account for the lines made the airfield its home October contre no each for today as follows:
fact that the average flying time:
base.
A vast network of drainage In the opposile direction was only 6 hours. The strongest pipes each year drain the air- West winds were encowitered port of 25 million cubic metres
in the months of November, of water which seeps in through
December and January. A re- markable feature was that the force of the wind in FebruOTY, A winter month, was considerably lower.
Thanks to the fuct, that KLM. ly to receive a heavier version of the DC-8, It will not occur very often that the case of a
the ground less than a yard be-
Spot kt. delivery at Hoa and Gal- veston. The opejctober Posi- tion today total: 35,700 bales. Certificas stock The
low the concrete runways.
up 20 to off stEnglish points discharge Pumps
the water and 690 to 8126erican points into o canal which circles the under New Ye futures. airport, nearly ten teet above
Raw cotton ports for the the surface of the runways. season totalled,250 bales vs Schiphol is the only place in 714,279 bales aped last year, the world
where a
ship's accordingtoe New York passengers can look down on an
cotton exchanUPI. Bcroplane,
.0183
2.50-11/16-2.80-13/16 2.73-13/16-2,73-15/16 1056-10.50
13920-13025
1109-11001 1744/3-17443% 1136-11201, 14.45-14.40 7050-73.41 12.21-18.71
U.I'.I
SUGAR
Cable & Radio Corp. 0.05 American Cymunk C Amen & Forgn. Power Am. Gos & Electric Aan. Home Prod.... Am. Mach. & Fdry. American Metal ........ American Re American Tel & Del American Tab. ""
New York, Oct. 1. World No.
futures 4 sugar closed today unchanged to two points points lower with sales of 350 contracts,
The domestle No. 6 Bugar closed unchanged to two points bigher with sales of 112 con- tracta.
Contract No. 4 (world)
Oct.
Jan.
Mor.
May
closed
Sept
ост
Spot. (cents
RUBBER
NEW YORK
Hex rubber futures today 12 to 20 points lower with sales of 17 contracts.
Closing prices;
AMSTERDAM
July
3.40
3.17
3.4%
3.45
3.45
3.10
3.46
Cuba)
por ib. lob
Open interest: 0.250 contracts.
Contract No. 6 (domestic)
Azarovenzda Copper Armco Steel
Armour
Atlas Dones Mining Baiwire-Lêmwa-Ham. Baltimore & Ohio Beneficial Firodze Bendix Aviation Chap. Benguet Cora. Bekhem boed
·Boeing Aleplane Borden (They Co..... Burroughe Add Machine Callt. Pucking Corp. Campbell Soup Co. Canadian Preißle A.
(J. 1.) Ca
Cat. Tractor Celanese_Corp. CT Financial Corp. Chuett body **** Colgate-Palmolive Co. Calcenblan Carbon Co. Commercial Credit Commonwealth Elec Consolidated Edison Continental Dil of Del Crown Zellerbach Cuban Amer Sugar Diamood Alkali A Diamond Malch Co. Douglas Airerati Dow Chemicals Dupont de Nemours Eastern Airline....
Eastman Kodak
El Jao National Cas Family Finance Corp.
Firestone Tyre & Babber
Ford Motor .......
General Dynamic
General Eletric
General Fooda
General Motors
Gen. Pub, ww. Gen, Tyre & Rubber Glades Co.
U. 9metting Ua. Stoe! US
1 P.C. FF Werner Bros. Westinghouse Air Brake Westinghouse Electric Western Union Tal. Co. West Va, Pulp & Paper Wooiwarifi
STEEL USERS BECOMING EDGY NOW
New York, Pet. 1. Steel delivery promises are stretching out and stool usars are becoming edgy, says Iron Age. Stool users In many cases buvo startad to rebuild their stocks as a hodge against a further strotch-out in mill dali- very promises.
This is a switch 20 policy of inventory culbacka at prevailed earlier this year, 732 The reason, according to the 2publication, Is that the improve- inent has come from ta broad 1133 cross section of industry, while 40 automotive companies have
42
10
}
from
the
The
10 tended to drag their feet. 100% magazine pointed to the im
POS proved outlook
Lor
capital spending, a better tone in ap- Hpliances and more buying of equipment by the farmer,
1.347
431%
com-
Sheet products are tenia- tively predleting # steady increase in shipments to the end of October.
The auto panics have tuld, they will be back into the market for heavy tonnages in October and sinc been this tonggC booked
of
2014
70
The
bas
steel Industry in stil pretty far away from a really, There is plenty Ught market.
and only 42% of capacity avaliable
the sleel users who Jet their inventories fall, below able levels will be affected. China Mall Special.
4322
reason-
MORE VEHICLES ON THE ROADS
Washington, Oct. 1.
mator vehicles
The U.S. Commerce Départ- ruent estimated today
that registrations 204 in 1988 will show net in-
of 1.0 per cent, smallest in five years,
Doc.
May
rose
2,942 to 48,442 kg.
July
Oct
The Liverparket closed
Dec.
Ματ.
LIVERPOOL Collon future'. closings, in pence per th, were as follows:
American Contruct
Nov: 10.12: Jen: 2965: Mar: 2950 May: 2046; July: 20,40; Sept: Nev: 2030.
Nov.
1.00
Mar
5.07
May
0.73
Oct/Nov,
23.28
per kilogram,
Dec/Jan.
24.05
Mar/Apr.
23.08
follows:
The rubber markei was easier today. Prices closed in guilders Oct. 43
July
6.74
Sept,
B.TI
cir
Spot (cents per
ib. cit
NY ex-duty)
5.05
Open Interest;
1:104
contracts.
May/June
23.83
No. 1 rubber
F.I.
nom.
July/Aug
23,35
Hap
Mixed Contract
Oct/Nov.
24,85
Dec/Jan.
24.03
Mar/Apr.
21.40
Gulf Oll Heyden Newport Corp. Homerlake Mining Co. Ingersoll-Rand
110
IB
11252
May/June
24,50
Inland Bioel Co.
001
July/ABE.
23.00
Intercher leal Corp.
B1E1
SAO PAULO
International Nickel
International Paper
The airport with the minus altitude.
All prices were unquoted to day.
No. 2 rubber
No. 3 rubber
No. 1 crepe.....****
SINGAPORE
PE
The market opened around the previous lovela and ruled very quiet with dealers dis- inclined to trade,
Lower sheet interest was fair but not as good as of late. No. 1 rubber per ib. Oct.
In the United States, average price of one-inch cat- ten at 14 designated spot mar-No. kets was 34.77 cents.
Total sales were 18,001 bales, -U.P.I.
FOREIGN EXCHANGE
NEW YORK Closing rates were: Carmicha England official
30+6#*#
10-days
044-047%
METALS
NEW YORK
Prices of metal futures closed today follows:
Goodrich D. V.) Co. Goodyear Tyre ...... Grumman Aircralt
Inti Tel & Tel
John-Mawilio Ce.
Kuler Industry
Kans C. Power & Light
Kerinocoli Copper
the
in ceuts per
Jb.
as
NOY,
No. 2 rubber per ib. Oct.
На 4
་
02- Load 009-021
Oct.
11.270
lanket crepe
pod ribber unbated
*
705-70% Zinc 0314-01
Get Dec
10.35
11.45h
Liggett Meyers
Lockheed Aircraft
10.500
Loewe Incorp
31-603 Copper Oct.
SE BED
2015-07
Dec
27,1ib
Tin ÜCL
1100,
$2,000
LONDON
No. 1 palo crepe ..........
LONDON
The rubber market was quiet with spot quoted at 24% pence per Ib. Prices:
No. 1 spot ......
Setteleend houto
Nov.
2435-2415
term:
Prices of metala closed today in sterling per long ton an follow!
לדי
Lone Star Cement Co.
Lowenstein & Sons McDermott J. Ray McDonnell Aircraft
Stock Ergen) Membi Iron Corp. Minnesota Mi Simson Development Monsanto Chemical Co.
Montgomery Ward
Motorola Inc.
National lacul Co. National Cash Reg. "A"
Nation) Dairy. Proq
NELional Load
Jory/Mar
Buyers Bellera
|
Ave./June
General marketa, cli basla 1.03-17/20 | Nov.
| Mulate crepe thin
apoj 3-mortis Copper spot
3-month Lead Juh light Dol... Zing tot half 06%
rehe 231
Sisi
| National Blaer Corp.
314
3112 221
} New York Thoseikoina
Nortpik Western (ty
North Acer, FAVÍKURI
(Am
||verit=mess" "Alrunas--(Com;)
00 Olin Mathieson MU.P.I. Cila Elevators
crcase
the
The 1033/67 range was three to 7.2 per cent,
The 1858 total of passenger
cars on the road was put at 541) 58,907,000 lorries and busos
were estimated at 11,431,000.
The increase in the number of vehicles over last year would be about 1,250,000.- China Mall Special.
Dividend
London, Oct. 1, Southem' Kinta Consolidated bas announced a final dividend of 522 per cent. lean tax. making 83 per cent for the reRU to Murah 81, 1958
The dividend will be payable
152 on Retober 80. This compared
wiki 198 per cent for the previous year--China MAN Special