་
SCIENCE AND ENGINEERING
THE CHINA MAIL, MONDAY, JANUARY 5, 1959.
The American Europe's Economic Outlook Bright
Consumer-
CORDLESS SWITCHBOARD Hero Of 1958
BRINGS AUTOMATION TO PRIVATE TELEPHONES
THE
in
first private cordless switchboard Britain to receive Post Office sanction has gone into operation.
The
witchboard controls unclennat e
Branch N
1134/**
nstalled at the Bor Experiments With
heusdepapers
1
10
alan Pacift Hantway Com
ym badan
1
the sack, piks sony ambromal news of push- Catteland 2.952, nautilyapa
b
ther E-E!...
The main
Heated Roads
TEW British ideas for safer road surfaces are De. being featured by the
Scientific and partment of
Research ot the Public Works and Municipal Services Exhibition.
top plc Industrial
Tlfnt allong Tai atstoti
THE EXCHANGE
Y
contamina
Jeitu!
Sqperimens of load beating elementa shown Elimination
at road jar on particularly leti The Palaiskt b
AZKORRAIN Cors Te du chode and four pitted.
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5 d consequent delay o
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USIR
SKIDDING
MEN
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2.
Now York, Jan. 4.
As 1958 ended on a strong note economical- ly, with the fourth quarter of 1958 one of the most prosperous in history: businessmen agreed generally that the American consumer, who refused to panic during the 1957-8 recession, was the hero of 1958.
HONGKONG
STOCK EXCHANGE
Stocks Close 1958 At Record
Tops
New York, Jan. 4. Stocks closed 1958 at record tops and opened 1959 at another set of all-time highs.
For the year the market nude ds heat advance in history. For the week the gains were the best for industrials since July 25.
Trading A 1958 treke all records since 1930 and was the seter-ourth largest in history. Last week edir.
There was a decline of spend- ing by consumers during the recession, of course. but it was not a severe decline Rather, the
bought mere consumer tively, but bonight. mmand for goods and services. cushioned the recession. kept it from turning into a real degres- sion, and then sparked the reonomie uptum.
Apparent
That upturn started late last April, although it was not mediately apparent, and slowly Our Own Correspondent
gathered force during the sum mer months. By September it Business done on the Hang-
wus clear that the recession was on the way on, and this know- 1.20g
Exchange Block
this
ledge brought ranüdetere, which morning truunted to
recovery In turn hastened the Noou proximately $482,000.
The fine fourth-quarter figures quotations and the morning's
the result
Gree cansuelobs were
National Product-the measure volt of goods of the dollar and services produced was at $1 all-time high of more than $450,000 mitin 15 the tourtl quarter, although for the whole you the GNP will be dow: about three per cent from 1987.
moongardadamned tuely with tu.
murg call. A savond ist ungm
titalon
Ak, f daton
Also abby bed how many
qued item ang is set up by
for selceling rondstones for use
where sold lang This spuipment com
foolishi; ses maclitu That Kind es mulatag the net ca
ress The eppropriata pusak Lac fubber tires 25
Ing When Free
portable ppparatus 1. aesar ng lan digive og vip Cat Healty
Tactily cal This device tags the extension When becomes free develryjand
amatically enuets de caple
be set up usintently
add where the surface b bus berkil
ir
an extenNOJ
bony.
130 $2
312 20
Banks
Buyres Sellers
Nam
BANKS
! 33k
1. 427 26
INSURANETS
7%
19
12
: :
MITPPING Wh
303
1480) ...
57
13, 1*1%)
Whef
"H
Thick
12 50 45 23
F
12 200
+21
50 12.30
LAND KI
TIN GE
Cat
A
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A
UK 1
1425 34 344 134
JU
15-
1525
H
bas especially for
Anax
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+ in th
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It is rasily handle
delt and
A Twa
batagala
23
UTILITIES
Pie perdor nan intside vali Arvise all engaged exture that
plant outside ead) Wolling by transmithing a warr
glen When the reight ed ex-a
Pran
27.99
200
Eles
Vets are mad
1 Yausti
130
in
wet weather, when stupe ko
The
«ere stuckmed to be suppletv.
astr
Leis
F
Him
Erectile :51 2A)
20 20
2000 25.70
Mega 2
211 20
25 100
IN
24 70
mirabe ma
25 30 26 20
44
Wal
10 2
120 10.0
VAZONAS
+3
G
INA ESTA NIN
Th
Friston hangs up at a dira.ela rally conniveted to the ata cuth of the extent of polish th call (Automatic Telephone and of the surface by traffè.
eclate Chopany Ltd. Strowagi 1. Is, and for interatory 1.x's ! House.
Arundel London, W (2)
Süvet
Uniselector For
Automatic Systems
A
SMALL plug-in unisolec
lets
samle
tinfferent Types
..f
New Way To Prevent Mine Explosions
London.
dis-
a new and in. explosion mine
scientists tor switch with 36 out-DRITISH
and
3 covered measuring laches by 2-3 16 inches by expensive
1.5 32 inches is introduced prevention meusure, it was
by a British company for usc reported today.
in automatic systems.
Oc-
one
cupying the space of
3000. British Post Office type relay, this uniselector is designed for builders of electric automatic machines. It weighs 12 pleto.
ounces
com
It will prate for twee million
revolutions without
safety
+
the
A
report Ministry
Purwer sale that mixture of two by - izuple
11. Is w.effect ve 4 Re- venting the rising of coal sist whoch 1. T alebuted li 17 explicera cation!
אונד יז:
Geather
mixtures the Al presnising material tested so far and sowo
Reed fur
was bene gh
readjustment, had hún a working contray!-owllular, a by-produ
life of at least eight mill on
a the bayon
revolutions before replacement | Maat Special.
at any part.
The miniature uniærfector is
designed for operation in 22 volt
industry. Cha
or 60 volt circuits in its standard Fast Designing
versions
and incorporates
own spark quench deviY.
The
new
bas
niseleder applications a mutomatic systems. where selecrans,
registration
and outlet marking in required.
In certain circuit arrangements
it will
perenit n
mbatantial
Computer
Kumpany everyalle
Mr Med de
power
17
J
Ben ellations for a Велот Slution
structure
saving to be made in the number two hours with the aid of of relvyn required.
A design engineer (Skmens compoter
weld have taken several weeks Edison Swan art. 155 (barang
In complete a similar task. The Cross Road. London, W. CH.
computer, in fact, doen the Job art thanes as fast.
Device To Reduce
Radiation Hazards
N
In million to releasing Adll- men for more creative work, this important new development In the structural engineering Held uwves the way for concider- . Lennomies in steelwork de- dovica sim, enabling more elaborate would roduce tres calculations to be made hazards
the relative merits of from d
varkas schemes to be assessed
alectronica
A which
radiation X-rays and increase the power of astronomical tole- scopat may be in commercial
usa next year.
The devler-called n nage
fore a tender is submitted
med Steel Company 144, 10, England.)
intensther makes dark this Safety Belt
brishter. Hospins using
IL
would be able to make X-raysi
with weaker 1ght, thus reducing
the amount of radiation.
Λ spokeuzet
tion
Ja
مع و برو
ן די די
די!
werk
The
Personal Income, construction artivity, retail sales and average of factory hourly earnings workers att hit new peaks in the fourth quarter, and t
Th
Severnl
and
crossed
the
markel
operated tour days with unily best since average volume the the work cadang December 12.
Dow Jones
IBM tell
Apart From France
London, Jan. 4. West. Europe's economy bounced back strongly at the beginning of the New Year from its first Host-war dose of freedom, ut economic experts said the way was now clear to import more U.S. and Canadian consumer goods. The British Pound sterling, which any foreigner now can change for U.S. and Canadian dollars, kicked off its old year with a new showing of strength. Continental currencies
followed suit.
Curcante Prance.
con-
and
The year 1958 ended with
higher prived stocks The biggeat SQUE
when Britain and lon pote, in a many particularly strong, international
bright generally
European nento neighbours made their Business Machines registered a
picture
convert- freen currencies extenally came
that Any gain of 230 for 1938.
Communist-dominated | üblemeoning
could convert the bour unions there rumbled foreigner
agalhst the heavy currencies knocsl without ominously
ordered
mto by restrictions
dollars des of Bustarity
other hard currencies, the De Gaulle Government, Charles President-gicel with
enforce a 1 Gaulle's ability atern belt-ightening nancial France's keup
It was a daring move designed programune
to restore Bound
INONY davated frane in line would be
test of his Europe and flest results the 1st wwdown year.everiament' authority. Western pre exising
boos! Europe got its sonomic
mae
ponts on Frkday but regained part of the lose
Chemicals displayed a strong
f the week Eastman Kuduk, a star gainer ut more than ve polis on Friday. Du Punt ruled STUDE. Oils were meeting better demand ch outlook for a general rise in de- mand 11 of
Galon for the the week in the 11- Dow-Jones averages were. dustrial at 587.50 up 14.88 points T for the week and a record high; rann 199.72 Lp 2.77 points and a new high since November 7. 1056; utility 19.22 up 2.00 and new high since June 13, 1930,
staks
in 1 tiree and 65 averages at 283.91 up 4.87 and a new rvconal high.
The Standard & Poors insies of 300 stocks closed the work at 5544 up 1.33 polate to a record high. On the busts of that the valuation of all listed shares!
la hase beard--more than
bilhou of thr
gained nearly seven billion dollars
Impetus
the 3472
rise WAS
five
urnished by several develop
Market.
This
14
Boom Tendencies
Ön London
Stock Exchange
London, Jan. 4.
de
The rocket which the stock exchange sent up this week to celebrate the passing of the old year might almost have made a boom.
Tas selling ended for tuents.
one. Europe got its currencies in order and six nations forming CLATTICE
Automobile ran up tharply inf
Years New On production
Retail trade rose Financial
Times December. sharply after setting a new high ordinary at 225.5
Christmas buyinghrat
ever point And finally, leaders af te veria and for the first time in living men! and industry predicted a record 1959.
Eu ti-thuable god: lines, such as apparel, chenutab, paper fubueros there wiry bow
stock market's record dustrial
B150 average to new all-time Maign grounds In some ceses, of course, these
volum L-1214
mistertingg
new
taks
were a bit since they were cauzend
by higher pries Bean by sign- Salo¦ feantly increased activity A cote of buuste health was there,
sta! the promise f
2010 steady optimism,
S26
Exchange Rates
сделены Lis J! "" V'ns
the local tankoffietad evelinge tracket this morning as the fallowing Faton
Jollars (per Bli
5.73 Suring notes per 2D,
Assured
1959
Wit
157.65
for
Industrial
X-
market, deter- | Eve the buying on the industrial mined to build up their pori-
Colios as quickly reached the
as possible. had little 12- Wall Street has recorded
fluence on domestic stocks
new cent indirectly since with teks renched in New York the of the London cheaper prices
and un attruction stocks are tho
issues like "Einmics" And Philips pnes have benefitted by trans-Allantie buying.
brokers steirory
jabbers and were too busy on the door of across house the
Lo alp
Street into Throgmorton
the old year
hest celerate passing.
franc developments
moves
and country
Daring Move
גון
чего
Brith Bancial experts shid there now is no reason why Britain and ether Western European nations should not progressively step up their in- parts of consumer goode from the United States and Canada.
because Hilberto.
of shortage of dollars, most western Europana countries have had to Band: then dollar orea purchases heavy capital goods and vital Recessary etnicities like oli &nd cual.
F
But now American cigarettes, coffee, breakfast tooda, canned foods and other consumer items for which Europeans have been "starving" for years are likely
Cross the Atlantic
creasing quantities.
Reacted
in in-
CX- ox-
Wes. Europe's foreign cheng, markets and slock changes reacted enthusisatically. to the now situation. The pound sterling and +1:051 rentinental cur, envies stoud 1m all the
way.
new
Britain felt the pound had won stature as en international currency and experis predicted a chain reaction of developments that would put this country road in it: mly on the recovery 1959.
Prime Minister Harold Mac- mitlan's government, which
has
the slashed Bank of
anxi dis England count rate fitn seven to four per cent last year, was expected lo cut it again to 3% por cent early in the New Year, Lowering the Interest rate would Increase purchases and cut unemploy-
The enthusiastic
For the year 1938, the t- dustrial average closed at 383.05
It has been the most eventful up 147.96 points or 34 per cent
Steel shares have been strong The calis 1957
jur close:
many years. weck
with the gcally improved poli- uf the convertibility Ups up 20.69 or 03
upshot per cent. uilities 91.00 up 22.42 moves coupled with the French tical atmosphere and also sour
The battle frody US. the
buying. and 05 sur 33 per cent;
to Bellish Aluminium is reaching stecka 292,43 up 50.72 pots For 1950, the estimated GNT : 30 per cent. At the close of 1957,
herote proportion and the R.A. shares have sonred 7/1'd this about $475.000 million, und | the indestriols showed a Joss of
week. Stores have been active 63.78 poils in the yug and
and firm, electrical and kindred ralls. 06.27 potrets.
nact the lenders have put on a few pence, Textiles have beer.
Пет mainly
and
FIRMER
it should be $500,000 million by 1960 A $20,000 million advance GNP the next six months
ireney
britters instamood Es n the boks. Thus git bent Jung
HUN YA
1
have pro- boomlike cond!- sections of the
that by beralise Its trade dired almost tions in may The ulilities stock markets. in 1957 al ne managed to show
4.
CONFIDENCE
CON
Sales in the past week, rut to
world-wide solid The Your days, averaged 3.750.140 shures dully い
adlydence in sterling which the behaviour of the werk. ubycquent
The days, 2,981.199 sterilng dollar sterling
18 and the December week og 3.7341.286 shares daily.
Tome
CINE T He ste, and the Fischel Board Industrial Index, six per cent in 1958 From tigre, shwald rebound in with a 12 per cent jump 1956.
Steics Reserve
down
average 6 the previous
el tu
1957
hates
1999 over
business
It is estimated that will be using its total plant to 93 per cent of capacity by spring
Best Markets
The aux curbile shares enjoyed one of their markets in sunthe
of 1959, which in turn should on Friday when the empanies
shaip gain bring about added capital exgenerally reported 12penditures which a few months in December output Steels also
ago seemed out of the question, met demand with U.S. Steel
feature. P1
14.03
Australian notes per 21 deschia Tupiali per 100 Slum turals er Serpent
zijn
TSUGARST
1 42
COTTON FUTURES
BUOYANT IN
NY
New York, Jan. 4.
Cotton futures ended the week and started the New Year on a
buoyant note.
ין;
franc rules
ged a
rmer.
Following the news
brewerlement.
uf
British
Press except
was
for
organs of the
Labour Party
the opposition.
The Conservative Daily Mail
Swiss indicated, encournillon deilur loan to Argentina much Brmer trend in shares of companies with con- satd editorially those who have it-edged securities, the pres-nctions in that country have confidence in the Britain this Is sure of demand for governmentbren Brmer. Kerurities Was VCTY strong as the week opened and although
is
Too Risky
Labour anj The
thut
and faith in the Briton that will
The kufir
market continued be, must cuppert what has been of the done." The Daily Express said this demand tended to dwindle firm. The devaluation
there was no limit, to Britons could do in 1959, progressed there French frone did not precipitate a the week
There was was no fall In prices. Two and more than a momentary bout of
half per cent Consols led selling from Paris. with a gain of . Strength has increasing cyldence of American recent interest which is explained here 1.en maintained in the
that there
opposition siga there as Issues but high coupon
increasing number of tuvestors insisted the move wed too risky Las also been profit-taking.
In Canada and the United States end called a maceting of party decide iammorrow to who think that a proportion of leaders The currency moves with the
part Ger- guld shures in their portfolios whether to attack the Conserva- indications of the
in bolstering would be a good thing now that tive's policies, when Parliament many is playing
mods again at the end of the the dollars power weaker, the frante resulted in continental
the week month. Oil shares opened buying
slocks, of Geriat
which on a firm hole but tended to
during
week the put on throo poluis. Greeks tended to boil over as a result reported offering from the other vantage of the economie upsurge of profit-taking at the recently side of the Atlantic which cut to call o snap general election arhilling or two of some of this spring in which the Con-
of the the leader, at the end have necount. On the last two days in the leaders showed sign of they closed strengthening and
Eains, with usciul The week,
were quiet, Rubber shares U.P.I
especially Dawes Dan
established higher levels.
Trans-Atlantic stocks been marked up, reacting
now peaks achieved by Wall Street this week but in- dollar securities is very high premium still
the list, 5190 a bale tortur May delivery, in the certificated stock and terest else 12 to 14 points-80 to Bʊive, t
At Friday's
zuld
1
aled the widest
rise for cine equent
ut a balc- tilgher than the angersions since August 6, 1958, preceding week
Prices mapped back sharply
on Friday. A maximum rain of
The following are
quotations
of Mutual Funds in the United Stalca In American dollars. The buyera' quotations include com- mission: Mutual Funda
Selters Buyers 7.11 130
Affiliated Fund
Am Bus Sh
4.24
143
Ltd,
Atorm Dev Mut
1.40
Axe Bought n
0.32
$1,04
Josion Fun
17.01 19.01
Bullock Fund
13.23 $4.50
MOTORISTE safety belt with a Babining relenne the action was shown at the redent government-sponsored Netanal Motor Show in London, Thin Hesentel Development Corporn-enfety belt can be tied to hy buching cur, ray the manufacturers. The which work on the device at London's belt which holda the driver in does Imperial College of Selence and his at in an emergency
or renttici ales nut creato clothes, Techralogy and hopes that the intensifier would freedom of movement. Lexing endle tieni mmce telescopes ton Products LA., Lex House, i sen much further Chiha | 2-0 Alteed race, Totius
Court Road, London, W.C.1. Mail Special.
מהwר !
Canada Gen Fd... 1400 13.10 Canadian
REFLECTED
Itelated strength reflected:
Reinstatement of lung pool- Ilons liquidated before the tax holldays for year-end
WLA
the
the
certainly not on level and the stands at nt.
1
expectations
for deliveries l bavy contract
elton the weekend,
avullable for contract delivery totalled 70,053 bales, plus 3,300 bales wwaiting certification.
PARITY PRICE The mid-December parity price, announced late Wednes
day, held et 30.03 ccnis a ported, unchanged trop-November, but 150 points higher than the 37.43 cents level reported in mid- December, 1067,
INDUSTRIAL
Industrial
equities
Bank Of England Statement
Lebour
was reperied to tear on Macmillon would take ad-
Landon. Jan. 4, The Bank of England state ment for the week ended 31, read as follows:
enjoyed the attention this the bulk of
one more than week and on accasion there have been scenes on the noor of the house wilch beller that the market
could only be described as
for shares. technically over-sold
mad scramble year ago most of these industrial after a prolonged decline;
Cor-shares were less than half their The Commodity Credit
With the beem- widening discount of orallon reported leans en the present price.
there The
20 Jike atmosphere through Dec. govern- 1058 crop spot prices under
to suli Other securities investors rearly ment tean values.
Lo 1,851,506 balen fewer
Stepeipts and it is quite cleene that the Ratio Pressure on the nearby March against, 1,695,195 balea to the
now unit trusts are already delivery reflected the steady rise arme time last year.-U.P.I.
ummated
A
A
Notes in chelation
iblis deponiti
aro
Frivate deposits Government securitica
Dec.
stering 2.131.437,633
12,377,390 292.089 0 214,799,250 43334430 60,400,331 21.0
-U. . 1.
U.S. Cotton Goods Market Review
COTTON goods manufac
servatives might,be returned for the third straight time.
Francesul, remained the biggest question mark in the whole picture of an economically resurgent Europe Finance rocked Minister Antoine Pinay the country to its heels with detalls of one of the toughest austeily, in French history,
It faced Frenchenen, with the prospect of a.devalued trane and of having to pay more for bread, rior, ebecolate, milk, railrond fares, citrictly, gas, post and telephone charges; and other vital services,
Bank Of France Statement
Parlo, Jan. 4.
The Bank of France statement for the week ended Dec. 24, read as follows:
Total goid boschi
Tom other cULTINORI Bight balane RPPU Advance, in Stabiles-
1 Furk
mulates
trame(old) 241,531,290ÁDE
0633519,707
16.123,200.000
zero
Tutt bli disaunted 2,100,01 BAG,NA 2,423.06110420 200,317,030,102
MU, P. 1.
While business this week commentator thought, New York, Jan. 4. to carry them through March or
cotton print, sheeting and most Hart Abrun featured renewed certain construction,
elreu constructions sirength, sisal, with African Possibility of a
In-ulheretondary Wago
East African Current accounite and turors this wook look-erense for mill workers was re- developed slowly, the, wide orta reaching a new three-year lation
depretta ad ahead to 1959 sounding garded as a foregone conclusion industrial grey goods trade, by high on Drittal
1050 and that higher comportson,' developed, relative types. a note of cautious optimlem, in early
Grey goods market for rayan, prices will have to be obtained ectivity.
man-made bres Immediate butucas remained to offer any Increase in pay- Cotton rales yarn spinners acetate and
Ás, buyers rolls.
alro anticipated 10on with more closed the your on a quiet but my the atlet alde. 11.01
Fabric pricen wi Opinion. concenics strong note, fowevt. the cauilous coterie confidence,
thee wokUA thought buyers would be slow to indicated prlera would remain have to advance get too far shend into the second stable In face of the low in-have been increased, IL
They felt that euyeutorlen inproduierg and con- sentrally conlonded, uunitor,
Boston, wool rate reports sald wage increase might be offant sumer, channels. In the event of by the possibility of lower prices any extraordinary pickup in the worsted yarn market there market would belelaned out 1859) on a quief note, for row cotton in the shell buying, the
"caught short" on Aupplies, one U:P.I.
77.00 1980
Canodion Int Grow
0,19
13.11
Chemical FO
21.21 G1
Comwith lock
14:00
18.92
Dividend Bh
2.98
12
DT FO
12.19
17.20
Fatum & I mock..
24.90
21,54
Electronics Inv
31
11.99
Fir Tien
4.02
4.41
Thund Mat74
2.03
15.40
HP HQ ....
4.74
5.20
In now!!
10.0
Jeselli Brunei
102
1160
nati! Income
7.18
Heine Lust 11-1 220
31.01
Me In T
11.10
and seliçre were pre-occupied vill year-end fécal and invent Dry Probleink,
Mane Growi
12.00
13.71
Nat Sen Bar Growin
7.99
30.05 30.04
13.00 34.00
5.10
13.07
14.00
older. Et & Cl
why Fleck Bit
Valss Line FA
↑ Wallington
10X0% 11.01
Optimists placed emphisels on the fact that some milith, endest
the year, in tho, nirontest, pal
16h for some tine. Some platila had order backlogs big enough
and third quarters of 1909.
WILI
Agreed Merchant Rates
France:
Swiss Belling 1434.
Maximum
|-- West, German Deutschemarks:
Maximum Bellog 72-1/10.
A