SCIENCE AND
THE CHINA MAIL, MONDAY, DECEMBER 29, 1958.
Tage
Weekly Survey On The American Economy
ENGINEERING NO REAL BOOM FOR 1959
HIGH SPEED TAPE READER Many Businessmen Still
CAN READ 1000
"
CHARACTERS A SECOND
A
NEW high speed tape reader made its debut
at the Electronic" Computer Exhibition in
London recently.
It is designed to read standard
5, 7 and 8 holę pynched paperi
spe at any speed up to 1,000 Woven Fabrics Make
turncters per second and can
slop within a character,
The
structers are sensed by photo Flexible Containers
transistory, which are illuminated. through perspex light guides.
1
Transistor adjustment ran
flected by reving an inspec. on plate
The transistors and guides can A NEW development in De withdrawn from the instru- A flexible containers has
one unit, should transistor require replacementbeon introduced by a British company. Designed to pro- lightweight simple, vido containers for the transport and storage of a wide range of liquids, the tankers GTC made from coated strong woven fabrics and are avail- in a black or white
ALSO PASS
The
ibrough Tape is drawin y pair of rullers, the upper oiler being Rxed on wiki of able nedor shut. The position, of
the lower role is controlled by finish. In electromagnet, the pruunt of aavement being :uffelen! to re-
aya The drive from the tape hr desired
The tape also passes between FA But surfaces, die pressure between these belig controfied by a second electromagnet. This jsoviding a banking agbon on the, has witel: always over rides, nia de tion of the driving rollers. Be instrutorot is completed vali lang, driving motor, elec- Comingnict assembles and Transistor assembly, but des
ان
Bulk liquids can be conveyed by turni road rall er w.ter transport,
Say the
the return
f
On
Journey the copy tank can be rolled up in a sali
by le art the tart kond sgance use | for other cargo.,
Worried About Threat Of Inflation
New York, Dec. 28.
The Christmas holiday brought a lull to the U.S. economy this week (except for the retailers) and businessmen took the opportunity to look ahead to 1959.
aissenters
Key Lines
Steel Mills
American steel mills ad- mitted they are finding
add Mi
GONG
HONGKONG Stocks Gain
Little On Wall Street
STOCK EXCHANGE
Our Own Correspondent
Business, thone on the. Hona- kong Stock Exchiango this morning amalinted to approxi- mately $235,000. Noon quota- tions and the morning's trans- actions were;
Mhares DANKS
Buyers Sellers
002.30 610
217
Balco
East Asto INSURANCES
Union ... Lombard SHIPPING
70.30 71 00
21.30
000 71
KK Land Realty.. RUBBER Amalg,...
A. Tawali.
30 30.25 1.40 1.0
1.25 1.00
2.40
2,10
300 40
2300 21.00
ગાં
احمد اني
New York, Dec. 28.
Stocks gained a small amount during the Christmas week which was shortened
by two trading days.
The in-
The Dow-Jones Industrial this holiday week, avouge finished at 572.73 off cluotelain smurled 6.34 points and 0.04 from the close of last week ralla 2.72 points. when the record high was set at
Profit-Taking
The general predictions was be as great ns the 12 billion the second half of 1958, aided by for steadily bettering business feared,
better since
business strong Christinas sales, but itja conditions, but there were some and higher incomes in late 1958 totol 1958 eples will be under In 1957 who believed that may bring larger tax receipts; the year-ago figures their own particular businesses 2.-The U.S. Treasury has been the total was 1,187,092,000, in would see little improvement to urgely successful In deficit. 1958, it wil be 1,140,000,000. 1050 UVET the rather unim hancing from sources other
Chevrolet claimed 115
373.17. The railroad average rose Strength the Falls Inspired ressive 1958 levels.
than commercial banks; 3-The
second industry-wide pru-
Wheelocks 3.30 3.00
2.32 points on the week to close buying in the other sections of Very few of the businessmen stubbornly high unemployment | duction record in as many weeke Docks, ETC.
at 167.00, a traction' away from the market on Wednesday. The Dow J boom conditions for total, which tends to influence ng it reported. production. Iust | K. Where ..
its two year high set in mid-chart theery is that rails nust Dock
44.50 1959 preferring lastent to hold labour unions to moderation in veek of 45,806, passenger cars
Provident 11,00
November. Utilities reached a confirm, cise in the industrials Pair.predictions to improvement wage demands, this easing the and 10.141
trucka, a total of LAND, ETC.
new high since June 13, 3830 at 10, Indicats lurther extension of of busincas ut "reasonable and
The previous re- Hotel 21,20 23.70 1000-21.30 89.22, up 0.22 on the week. pressure on prices; 4.-There has 60,007 units.
the rise. vicouraging rute in 1959, and been increasing productivity per cord was 34,208 units set the many suli were worried about| man-hour, this keeping produc- | previous week. the threat of inflation.
tion in in with COAL; Bin Industry's high capacity for pro- duction wiss minbolse any chance there being shortages of any kind and resultant inflation-strong competition. froin foreigi. ary price spital 6-There to an milis, as Europenns over-supply of foodstuffs, so them on wire the Japanese on there should be no price pres. plate orders. Total U.S. out- rure here; 7-There is ever- At this year, was eathnoted at
85 million tons, and total world Telephone increasing competition between domestic and foreign products, to production at 297 million tons. non- Stect production this week will refected in lower, inflationary prices:
be below the mid-70 mark due 8.The Federal Reserve Board has been to the Christmas holiday. alert to the danger of inflation
Machine tog orders in and has taken Brm steps.
November fell 27 per cent from both the preeeding.month and from л year ago, and
million ot totalled 20
For the 11-month 1958 period, business was down more than 50 cent from 1957,
For the week liscit, operations t such key lines as autos, steel, copper, aluminium, tyres, con- struction and chemicals fan above year-ago levels, which were then close to the <t pression low. Dollar volumu of retail sales, enjoying the
Just spurt The Laks can be sitapped on to the hat surface of un 0,598 sided c.title or placed win the walls of a vellete with sides. The tank is most stable when completely full 472: pally filled tank needs to be suitably
The tanks are also suitable for on gite"
Include any, electronic, Control_cirealty. The supply lushed.
quired are 240 V 50 ezṣ mainā,, TV 3 amp AC or DC. for ARE SUITABLE the Jump, and low voltage supply' not greater than about 20 volts
storuge purposes. for the photo-transistors, The Their construction and flexibility
Letromagnet colle each have a
enabl them to be used o teful, resistance of 85 ohms. -
"unmade" ground and when Elliot, Brothers (London), Ltd...
stored Conlugton Road, London, S.E. use, they can be
without special packaging Jacautions.
13)
Improvement Of Food Storage
The tanks can be supplied with day and amplying con- nections to meel customers' und.vital needs,
Because of the widely differ- ing requirements, the fabric of the tenk has to be governed by NEW instrument which is contents These Include A improves the officient petrols, mineral oils, vegetable storage of fruit and vegeta-cita, water, latex, chenica: sali alcohola, detergents,
blas has been developed byutions.
m lasses, alkaline solutions,
SW.
a British firm of precision istunes, esters, dilute acids and instrument manufacturers. fruitutes (Mareton Excelsior ORC 01 be hazardo of Lid., a subsidiary of Imperial refrigerated fruit st. res has Chemical Industries LU.. IC.I.
gun the diffleulty 4f maintain-Home Millbank, London, ing a curet degree of relativa | 1.) humidity. Frult and Segelables may contain as much as 90 per cent of water, and the object of effective storage is to prevent loss of water by evaporation md consequnt deterioration of the produce.
Fruit and vegetables, do not lose water at the same rate and the problem faced by the manu-
Suspended Ceiling
With Plaster Tiles
of
be
All of these are short-term
arguments. The businessmen who fear inflation Are worried about the next six to 10 months, but about the years ahead, They teel that
the Federal deacft of 12 billion (or
less) for the present discal year may be even higher for the next year and the year after that
Not Impressed
of Christmas shop- ping, was expected to be well above the 1058 mark, but the prent probably will be smaller then last
to price 12 tises in the intervening months.
The National Industrial Con- erence Board, a respected; and sally-accurate group, reported thut 1959 shouki continue the noderate upward trend seen to the latter part of 1988, but the Loned's panier of experts warned
Hy sectors
the cony will face problems be cause of the growing public ac ceptance t #11 Inflationary |sychology
They are not Impressed by The gross national produci President Eisenhower's proposed should be at an annual rate of balanced budget of 77 billion, 170-480 billion by the end of They argue that his buriget 1940, compared to some 450 leans too heavily on an assump- billion us 1950 ends. It was tion that business in 1969 will climated That the second be at boom peaks, with resultoni Quartor GNP would be 464 high tax payments to the billion, and the fourth quarter | Treasury. these worried GND 478 billion.
businessmen say at experience Employment will remain 4 has shown it is almost impossible Sure point, The expected aver- to cut any of the catrenched Agure for the year 13 pigrammats of the U.S. Govern- 4 million and at the year-endment—its defence peak of employment, there sill tighways,
spending, housing, social probably will be 3.5 million security, farm payments, foreign unemployed.
aid, velerans' bencfts and Autos always art
bell others. weiler for the U.S. economy. Nor can these businessinen sex Land Americons probably will any important casing of waga spfad 17. 1 billion for ears in demand by big unions, desplie 1050, about equal to the 1857 | unemployment." And the chief fixtures and well above the worry of the men who believe 134 billion rate In the Arst inflation is in the ofing is the three quarters of 1958, Spend psychology of the country, the ing for other consumer goods willingness of the U.S. citizen to such
washere. dryers, accept bigh prices, high wages conditioners, etc., should
and "creeping inflation." tun better than the 22.6 billion
الله
For the long term, say these cer-
facturers has been to provide modorn
A NEW contribution top
4
►
Non-Durable
building tech-three quarters of 1958, but the an instrument which Indicates
niques has been shown to rise will be moderate. that the relative humidity in a refrigerated sure, is being con architects and builders. It sigichity maintained at, the is a new type of suspended
Non-durable goods are じ standard, required for the pro-ceiling offering speady erec- throw per gent.in 1968 from 1857 duce inside
tion and adaptability, Jevels, and in 1959, they prob Experiments were made to
ably will be up another 3.5 per develop hygrometer un Two Bugis have collaborated erat... These improvements are Instrument which records-rola- | to produce the pérfabrikated | moderate, but it may be pointed tive humidity which does not plaster. Utes and method of out that the non-durables suf-, siffer from Instability or over suspension which it is claimed fered little during the recession sensitivity and elves results increases the speed of erection and thus were having a good to within plus or minus two per by 150 per cent.
year in 1957 and 1958, and no major jump could logically be exprated.
Roger Blough, Chairman
cert.
LAN
REQUIREMENTS
these
requirements.
REINFORCED
of
the
years,
Responses
.consumer
under-bid
per
Individuals in the U.S. saved 5.2 billion in the third quarter of 1958, 300 million. above the 1957 figures for the same quarter, For the first nine months of the year savings totalled about 11 billion, some 30 per cent under 1957 figures," -U.P.I.
TNT an
Star Ferry Youmad... C. Light.. Electric
Moto E
2040 28.50 305 101
01 -03 14.10 10.20 24.70
24.00 24.80
If one measures the market by Tho composite of the three averages, the mutkel set record high. That averagf closed at 199.23 up 0.63 point op 50 20.40 the week and the highest on record. The Standard and Poor Index for 600 stacks missed a record by four cents.
bla
400 10.2 23224.00
100 24,90
3:00 24,00
200-69 24.00 2000 24.06 1623.55)
20 7.00
Fluctuations
Selling iri the Tuesday session was seen us,nonnal Front-takig was Fedure...
one on the last day it'cculd be dengn the regular way to bo Included In the 1050 income tax roturas..Pectin
realised from pains urade. from Dezember: 24 to the end of the your must be imado fër, cash if they are to be Measured by the fluatuations includos for the 1058 tax the market was a stand off. retu: bay. Diherwise they' go There were, 003 gains, and,,037 into the 1958, 1 cax-year. There 16.10 16.30 000 10.20 long while 175 issues held un--wege many cash sales on Friday,
23.30
Ria 7.05 7,83 INDUSTRIALS Cement.... STORES, ETC, Datry Watson
12.00 13,20
L
Textile
13.00
3.45
Agreed Merchant tight appear as it the market ancunted in only 2,081,193 dally.
changed. A total of 113 sot new, and more expected next week. hiljade year while only 18 made new lows,
As in usual na holiday week the volume, fell.” Dally On the basis of the foregoing; averago, sales for three sessions
was a narrow moving affair, In the previous week trading It really wasn't.. "Industriais, averag.3,731,200 shares daily, fell 1.84 points on Monday while The past weelt's average was the ratis eased 0.34.
ended On Tuesday smallest since the week Swise Francs:
Maximum tho industrials dropped 4.84 to September 5. Setting 74-11/16;West German points on heavy prollt-taking
Wall Street experts said the Deutschemarks Maximum Sell- and ralls held their own with a ing' 71% Delgian Francs loss of only 9.06 points. On climate for market strength was Maximum Selling 854.
Rates
Wednesday, he last session of
COTTON FUTURES SEE-SAW IN NY
New York, Dec. 28. Cotton futures see-sawed indecisively, over unusually narrow limits in a holiday-shortened week of three sessions. At Wednesday's close the list ruled one lower to 13 points higher, or off five cents to up 65 cents a bale from the preceding week,
The New York and New Orleans cotton exchanges - wiil remain, cioses unul..Monday morning for the Christmas holi days.
tic
QUIET WEEK
IN LONDON
London, Dec. 28.
[CITY LIGHTS:
mer at the dance who fold Tyr's me thas
London Express Berzins.
favourable. Industry, of course,, cut back production... (or, the | holiditys. But the daily average output held high and most lines were well above a year ago, notably the automobile.
Estimate
President
Eisenhower
期
topty unless, there is fiscal re- form now and' removal of the
. Nearby March.. contracts causes of the wage-price spiral.
throughout the ab There was no fear of another aged recession. Americans generallybreviated trading period, meet- believed that the recovery was ing a slow, but persistent.Dow on firm footing and there was of liquidation.asahe certificated no chance of clipping back into stack climbed to a new..three- -economie doldrums for year high at,.70,620 bales... Market...technicians. reasoned ibe...constant climb in the The Kaffir market on the London Stock Exchange
thật government this week has been quiet but mostly steady.ractice would rise to 77 billion dellvarpble, stock foreshadowed One survey noted that there substantial. Jendera against
Finance houses have tended to move narrowly. during the 1059-60 fiscal year Werc many "autopistic Tes-spot-month..
The chief feature of Wednesday was the start and produce a balanced budget. ponses" in the economy which
HELD ALOOF
Such rice, it was noted, would helped It Sght, back to përmal
of dealing in the new Corner House Investmean, substantial rise The 2c, so
2 x 2 x
In the fiscon from recession. These included
spring deliverles The new instrument achieves 1 Ins is made from a special U.S. Steel, believes that the
stabilisers guch
ment Trust which opened at 23/- and eased corporate profit. "built-in
as field relatively steady, while, the
year ending next Jube 30 the It in plas
with operating rate may reach 80 per unemployment benefits, which now crop months were neglected
six pence despite expectations there would be government will show a decline plx, reinforced electrically operated and the nylon fibre and aluminium rod. cent better than the figures for brought expansion 01
some as traders there held aloof
incorporato income taxes be- In the sources, of the first half of 1958. element, of special cergente, tais cast from a rubber mould
a premium, income awaiting, convening, of the new
cause of the recession.
Those who Stative purp
Kura Inflation- wall.os. and-passed through a planing later half of 1958, the mills when pihers contracted the con- Congress, when farm legislation. manted on. The roof,
Dollar stocks tended to sau London for speculative purposes minded may have received kno Dillure Inside the frut store, machine to produce a precision operated at a steady 72-75-perm mers independence in uming is expected to be one of the first during the west chiefly under Shell, Royal Dutch and where BOIC air movement made article, as far
ay size 21
cent of capacity An 80 per cent purchases, and constatont; orders of bullies.
404 the rifluence of Wall Street. Canadian Eagle all suffered but aspiration from a small rise in existe but out of the line of any concerned, and also a chan- rate in 1968 actually would be
Balancing of expenditures—that Stability in the late spring Bus there was little business they all tended to recover on the cost of living index which direct spray water.
a much bigger jump than five is, I defence spending went and ferred edge.
lifted that figure to its record per cent, since the official rated own, the outlay, the ghway reflected R belief that the heavy premium remained at nil,
early suromer deliveries dome in this market and the Wednesday.
set several months ago. The A new toggle systen
capacity of 1.5 mills wil gaat topsing went up etc.
by mainly Apparently there are second rise was caused rato ef,euiries into the govern-. 141 be basis of expansion, the
up on January 1 from
Other developments on the tent loán #regrano will menn SHARP KNOCK thoughts about the effect of the higher new automobile prices. tiom
help ÍTOM any convenient į banging Invisibly
million ingat tons to 140 millon
Railroads got business front this weak
eventual: prodis. baxation on tightening-up in, the supply, pince outside the storage cham-actin reinforcing rods, without
U.3 shod production in n ar"""fres” cotton before the end The oll marieat received a British Petroleum remained un-estmates that their carnings ber.
30 per The leads from the crows, muts or bolts, on 0 But Blough, as do so many 1958 will reach $20 million of the season-July 31, trazemitter to the indicator can 411x 2 It grid, which allows y other business fenders, has mis-pairs, the New England Shoe ari
sharp knock on Monday with affected by the Venezuelan news, guld-ripe as much as
of possibly kept firm through acme cent next year atier a sharp Some observers thought tolg the news of the increase
the bo. of P.V.C. bell wire or any single lie to be removed quicklý alvings obout inflation, w
Western drop in 1958, fcr Leather Association" said, and foun entries for the season, may taxalon
ecenpanies In switching from well
In Insulated cable.
He noted that the Industry should reach a record of 803 exeted 7,000,000, bales The from any place in the ceiling
Ollit had ecm tad news because Venezuela and those issues with Hemisphero oils. voltage in this part of the and replaced by a unit ouch as would in 1959 feel the challenge million paira in 1959.
The rubber market had the form of a move to jump the of the low prices obtainable now business in that country suffered system is below 0 valts and the standard light ting
of further cost-pusli inflation
The U.S. toy Industry by growers in the spot market. most, particularly Ultramar quiel week but were becoming take that Venezuela geta from there. This there is no danger of shock.
effects of and the inflationary
the oil productro favoured ía much which Federa). defcit spending. All
made a good comeback in. P. I.
in increasingly firmer-UPI,.
was the first break of any nation from the traditional 00-50 the nation's steel producers face
in profite diviston
the qil new waze negotiations with
Industry. their unions, whose contracto ex- pire on June 30, and Blouch sold that "companies in
The element is connected by 20 or co-axial emble frangeni blam which mounted pt
to the
can
One -point instrument can nerve three.storage, chambers The istrument may be run continuously DT intermittently, and has a bulll-in stands deng eireult. (Short, and Manon, I., 280 Wood Street, Walthamstow, London, F, 17.)
kathe illes the
Access to servicen is the vold love the tiles is easily gained. (F.G. Minter Ltd., and Jonathan med Ltd, Putney, London, S.W. 15.)
3.5 Ton Battery
Luxury Car Radio A BATTERY weighing a
Long.
the steel
Industry are faced with the task of negotiating new agreemenis which will not add fuel to the Infintion fire.”
Dangerous
Weekly
H continued to hold new
A Pr
Market U.S. Cotton
of
Oils declined sharply on that. news and then came back martly on Friday. Standard Oll topped the Bat-in turnover. It
$30/and clowed the week at 100% of polsi.-U.P.I.
manufacturers Chidren Exchange Rates
Merchants of at lower prices some maricot notic to $54, cemo back to Now York, Dec. 28. twile and a few Industrial Cotton Textile
this week said analyste deanorped. TOLIDAY conditions fabrics marked prices up to New York,
cent yard.
genuine
cotton recovery i11
Chattanooga reports aald host
tons is being used to power
With inventory-talking time textile industry is now well sales yarn spinners in that are And the President of the Business in cotton
elcard for thres of the live dayi, mammoth fork lift/cam truck National Association of Man goods to a bare minimum le
shendenders expected advanced.
Immediato change in Wiha continued good move for the Christmas holdays, Some NEW luxury car radio with operating in Australia. The facturers also is worried about
conditions. (current, quiet, i
ment of goods from their plants
would touchbutton station seled-truck in being used at Lysaglite inglation. Bald NAM President this week....
Seme, cherthiants reportedly through January, the nanu hostery indicated they tion, transister output for low C.R.M. works at Port Kemble. Stanley Hope. Despite the Most selling fee'cfolied ently
expected an early close for two weeks this year battery consumption,, printed Roth,traction, and for many favqurfble. fautors, Chaknas Eve, thus limited were still pot jully covered, en facturers
Im a move to to 23 carly fest querise, requirement resumption; of netivity in the mstoad of the usual one werk, circulfry for maximuth rella“ į pilwerka by the battery which excesive govétoient appris 1h6% tredili period bility, full medium and long provides power supply of 72 had the continuing Wage-price metalons. The majority or milia net were biking" premitens tri grry-goods markedt.
petition con-areach,” for spot goods on cer- However, if the movement of evenwry," waya coverage and variable totie voltag and has capacity of spiral may heighten indation suspended
pletely RAN
· Hanch Abres, including burlaps, thin cótistructions.
Anished goods Jags, in Januory, controt na been announced.by: a. | 3,000Al at the 6-hour rate of to digbouw levels
"With The supply of route-b Matactucers look forward the hesitancy-might-remalt infhemp and sisal, along with wool,
woods, reflected U.Kofm-(Iya Telecom- Mecharge. z Chlorida Entering
who area rayon munications Ltd, Cambridge, Ltd., Clifton Junction, Man- innation offer several arguments: the mall side, prices held firm. to 1050 with anticipation. Ray re-selling by converters England.)
chekter, Biglarich,
1-The Tylerat deficit may not | Soms weavers of bag shootings, Boil, President, Amociation of are holding gray goods bought 'holliday atmosphere-U, P., 1-
"balance
Dyvinent won done in the ingal automoni xofienge market-Chile, morning at the following rate-i- 'US. dollars (par) (1), danas ring noter (per 41), ra sialanmates spa, 12 Indultesian pindi" (per 100).
is tosin (per 2nd)
Singapore (airalis)