THE CHINA MAIL, MONDAY, JANUARY 12, 1959.
SCIENCE ANI
Weekly Survey_Of_The American Economy
ENGINEERING BUSINESS STEPPED UP
New System Of Laying Indication Of Rise In
Eggs Eliminates Nest-Soiled Ones
A NEW system of nesting which, it is claimed, eliminates the problem of nest-soiled eggs, will show in Britain a saving of is. 8d. per bird, per year, compared with communal nesting systems. It has been produced by a Devon firm, and is now being exported to all parts of the world.
This new nesting system received a sliver metial
worlį
at the British Dalry Farmer Mobile Loader For
Association Show in London
recently. It can fold at for exe
port purposes, this saving ship- Variety Of
ping space and costs.
The fir
Duties
Inventories Rather
Than A Decrease
New York, Jan. 11.
Inventories of businesses in the United States roge in November
for the first time in 15 months, the Department Commerce reported.
เก
#
of
HONGKONG
STOCK EXCHANGE
Our Own Correspondent Business done on the long- kong Stock Exchange this moming
amounted to appro-
ximately $448,000. Noon quota-
Stocks Rise
To New Highs In NY
New York, Jan. 11.
long and the morning's trans- Stocks rose to now record highs in the first
actions were:
Shares Buyera Ballers Sales
BANKS
810 120
72 1.7 N1250
304
20
HK Bank :- Following
nation-wide INSURANCES
Unton sempling of the opinions of 200 farmers, housewives,, business-DEA
Lombard union members
and
SHIPPING men, government workers. the news Watertigt. paper reported that few people Wheelocks
the DOCKS. ETC. ink a balanced budget to
K. Whart ight against inflation and rising Provideht 12.10 123
LAND, ETC. prices; and where they do, they
22.70 23 nothing listel say they see often
29.00 30.25 Hi Land wrong with a "little" more in-
nii 2.35 Humphrey 13.20 Bation.
Really. 1.475 1.925
The Infection that business- | scale plant and equipment men were again adding to their vestment programme. In the then Equidaling words of Prof. Willam Eagan of stocks, rather
Notre Dame University's college them, provided analysts with
still india putálale
commerce: "There is evidence that the of
the enough uncertainty as Teenviry from the recent reces-
used future, and enough ..n was well underway.
capicity to slow new expansion. clahn anat this A MOBILE loader, con-
The rise in inventories WEN At the same time, businessmen cptimistic are walching technological ad- hy less nesting unit will repay its full capital cost during its nest two structed of square steel tempered seasons of use, and they are tubing and with the belts in two other major 14-vances, waiting for the bugs to gredients in the private sector of be worked out of new electrical- investigating supported on rubber rollers
a business recovery--consumer Decatrolled equipment before now engaged in the ponsibility of appointing mounted on o flexible steel pending on non-dirable goods Laying down their eash." ngents in all parts of the world. coble, is a new piece of, and servlees, and home-buliding
With 5.9 per cent of the U.S. work force still idle m Novem- equipment introduced by a THE APPLIANCE
(the
latest government British firm. All the shafts
figure). end with many more and rollers are mounted in
families doing without the over-
which they time pay to
had scaled ball bearings so that
Becustomed. grown
consumer automatically apart from the power releases herself from the met.no lubrication is necessary.
As the bird enters the nest,
The appliance, which is built mainly of wood, resembles trap nest, but after laying her
CAK.
hen the
the alighting perch prevents a second
entering the same compartment,
The dexiole the sellers are designed to weight unit f
loses, and bud from
NOVE
and the
bred entrance, towards the
clour returns 10 t
a verily of
to vegetable
On leaving the nest, the
original position to sve as an
ogling perch for the next; bur to use the west.
Conformed
ان
זים!
گو
Inventories
The end November race to $85,100,000.- from unit. adjusted seasonally,
uf Ortober. The
erbale on y al mounted a make this a litt
are of handling ermerlilies that
wal from sond, peavel and
metal.
The manufactures claim 41
The Judo can be towed by
Al the same time, the floor of ¦ vehiele ur-przhed into
parition
Thingh it is Eght
the nest tile backwards mad by one man cearly to start work rently rolls the newly-laid anywher sofely in ment at the back of the nesting boxes.
a holding comparte | enough for such easy minecr
bing: it-seilt, they say, stand up
to you of hard work.
COLLECTION
Collection is made froast the rear of the applianer, on are only two moving parts used
in the constructum,
ADJUSTABLE
Te height
the jade ble ny
Each nesting unit rongista #dj:
change,
$84,900.000.000 rt the end
which conformed well to expectations,
was confirmed to retail inven-
Jocks teries, reflecting Higher of new cars sin dealers' hands.
Despite the pub-tantial pro- mess made a fe, the recovery ja viewed
tently as
being
and the item of THU NOGHA
various areas and recovery in we tries wil continue uneven.
Ange
15
spending for durable goods 10
alas, a question mark at this
Divergent Views
The Two divergent views on question of inflation
appeared of the survey. They were ex- pressed by Joseph L. Block, President of the Intend Steel Co. Chicago, and Joseph 7. Vice-President und Contre of American Expert Gruzi
them Lines, Inc.. New York. Employers have said selves that hiring of workers will not in all probability' keep_pace (› "The average with sales this year, and Ewan doesn't realise the serious peril Clague, the chief economist of of
point.
inflation"
the Federal Bureau of Labour Ananetal Journal. Statisties, has indicated that the
full week of 1959 in the most active trading since the Thanksgiving week.
The industrial average closed |ings for 1958, Industry stepped up production with steel output at 592.72 a new record high up 200 22.50 5.13 points on the week and st|al a 15-month high, cuto output
5,45 5,00
10 100
100 of 39
4800 4:30
15000 € 1.04 13700 1.87$
58.70 per cent of the 500 level. well above the previous week In other words it has only and a year ago, and most other Elatistics making favourable riso 1.24 per cent to make 600. That would mean a doubling of year-to-year comparison.
In 30 years. It Wall Street the, average
took President closed at exactly 300 on Decem- Eisenhower's address on the ber 31, 1020.
state of the nation in stride since most of his statements had been anticipated. Wall Street remains skeptical that the budget can be balanced.
A1-502.72, industrials are 1,338 per cent above the low of 41.22 1.00 10000 17 1.90 sci on July 8, 1932, the bottom of the great depression. Rails
American Telephone. & Tele-- Pro 130 per cent above their. low in that day which was a graph was the outstanding per- former of the week. It resched a new high since 1939 at $24042
RUBBER
Amalg.
1.676
Trusk
A. Tawah.. Sungai UTILITIES
Star Ferry Yaumati c. Light
2.50
27.20 27.50
100 02.30
93
35112.59
100 / 02.50
16.20 16.40
1000. 10.30
400
141
203
2000
400
15.30
Just
Block told the
Electric Macao E... Tel. (01
INDUSTRIALS cement STORES. ETC.
23.20 23,70
9.20
..
25.20 23.70 240 25.35 130 25.30 23.70 1500.se
30.10 1830 1200 -18.30
1500 # 10.30
13.70 1350 13.00
1.10
persan
Grazkun said: "We've been
log in employment may run into early 1900 despite rising produc-surrviving with inflation for the last 10 to 15 years. Everybody griping about it, but everything is better."
tion.
can-
which weak point at this
Iac.or
is
Spital spending. Economist, slii bush
the loader i Bydraulic jacki drive- ! tae petrol engine detic i can be supplied alternative-ensors 201
to nests, arrangeal on above i smonta vapil moveaient of the
the other, in two Tows of live.
each egg to
the
undefinations
belt over the sua
The design has been studied
It is claimed that this new pooting rollers. resting box prevents breakage by removing safety of a spring wire holding from Losses comparuncat.
ernek Are and balr cracks
are avolded because the hir
not allowed to walk on, or over the eggs. Nor are the eggs sailed
manufactur
Je my way, the
add, (MEler's Appliance Works Ltd., Tedburn St Mary. Mr Ev ter, Devon, England).
Record Player Unit
For Radiograms
A
I
:
welded
"
to make it ideal for loading to and from pits, stock piles vehicles of all types.
12 loader hrs A from work consisting of fattice braced boom of light steel tube and plate.
The belt is in widths of 16
| inches, 18 inches or 20 inches, Felbheut. Kngineering
Co. Lid.. Stander
Works.
Kempston, Hardwick, Bectori, England.)
Plywood Packaging
For Exporting Goods
OOKING for a
way
agreed
|
The Demand
Touching on the question
of
First
One component of the east-of-
that 1959 will see a considerably sales of durable goods in sving index that fell during this City Bank of New week was wholesale food. Dun that Beater outlay for plant and January bank letter, the
Bradstreet reported York noted that "the gipang than the 10.5 billion National
demand
wholesale fcod prices 35 Last year, bold divergent views
the! ter these items can eati
measured by their index scored en the extent of this investment. difference between a moderately
their sharpest decline in more good year and a boom year.
than a year. The index for Much depends on attitudes."
The Federal Reserve Board January 5 fell 11 cents below the
previous week to 6.24. It was that ፖርኀነ
cents or 1.3 per cent below the reported this week sumer Instalment debt, bolstered by the first rise in outstanding year ago levél.--UP.I. auto credit in 1 months, rose for the second straight month 12 November, The increase ad- amounted to a seasonally
A recent survey of 300 cor- perations made by the National Corp. Securities and Research
tful businessmen concluded were thinking in terms of n 32- for 1959. lion-dollar figure This is far below the receid
37 billion spent in 1057.
Most economists say current over-capacity is the biggest de-
tenent to an immediate large-justed 142 million, New credit
NEW YORK
to
Old
SMALL and complete unit for building into record players or miniature reduce the high costs radiograme is now in full of packaging involved in production in the North of sending their producte to British England. It weighs under overseas markets a 14/2
measures 7 radio and electronics inches x 51⁄2 inches, and has pany tested the plywood a low current consumption case of a packaging speci- battery operated motor.
ounces,
alist.
com-
COTTON MARKET REVIEW
extensions for autos in Novem- ber totaled $1,382,000,000, while repayment ef eld credit come to Board only $1,244,000.000, the sald. A
of 50 university, group business and governmeni econo- mists surveyed this week by the Wall Street Journal expressed doubt that home-building will maintain the pace It has been setting recently.
Considerably inere culimisra
shown by the Vice-President
was
executive
ני
Watson
1. Craw ..
COTTONS
Textile
Natyang INVESTMENTS
int. Invest. 5.35 alled
nere 13.23.
Composite Average
this week at 10.40-Rails closed 19:22 163.58 up 3.83 points and a new 1958. August 30, high since Utilities closed at 01.77 up 0.55 peints and how high since June 13, 1930. The composite average
Exchange Rates
Business was done in the local unofficial
market It is exchange morning at the following rated;- U.S. dollars (per $1) „................
Australian noten (per 41). Sterling notas iper £1) Indonesian rupiah (per 100) sum Heats per 100)
(Straits) Eingapore
Was
up
and closed the week at 23034 up
14% paints from last week's clos Stockholders will vote on three-for-one split in the issue recently proposed by the directors,
Some big gains were register- ed. Addressograph gained 15% & American Machine points: set a new record at 206.27
Metals 124 Sunshine Biscuil 2.36 points on the week.
General 10: Lof Glass 11%; The market rose on Monday Time 10; Lily Tulp Cup 7; and Tuesday by small mounts. Poelie Telephone 79; Haveg
rise The Tuesday
the11, and Pillsburg Milips 10%. these in a row and seventh
A total of 1,427 issues ap- these saveh sessions added 11 billion poured on the weekt. Of
gained, 487 declined and 135 held unchanged. There 313 new 1058-50 highs down 8.22 set against only six new lows.—— groups corre-U.P.I.
805
It
were
tp the value of all listed shares.
Then prot-taking with vengeance on Wednesday. knocked industrials points and other spondingly.
By the cicse cn Friday all the Wednesday loss was recovered 2nd more.
Market news generally held
6.74
16.56
12.011
20.85
1 Telephone repcrteri record earn-
1000円
to the favourable side. America
LONDON MARKETS ERRATIC & DULL
London, Jan. 11.
Arabs Want Their Own Bank
Cairo, Jan. 11.
The Arab League Economic Counci approved
tias
unanimously establishment of an Arab Firunicial Development Bank. Prender Rashid Kurami announced today.
He said the League also had valed to establish a special com-
Stock markets this week have been erratic and on the dullmitee to work toward an Arab
side except gilt-edged which have light.
Saw
1
nine
captured the lime-
common market.
Plans for Arob economic unity apparently have been
thot spurred by fears
the European Common Market will
L
The narrowing of the yield old year with Financial Times dex. The setberk was encourag-discriminate against Arabs. -
ordinary index at ed
by the sharp U.P.1. This week
en Wall Street in of the United gap between Consols and leading industrial Stutes Savings
Loan Industrials was an invitation to 225.5, prices fell steadily until fluctuations and New York, Jun. 11.
League, Norman Strunk, Strunk buy gilt-edged. This market was the index on Thursday stood at addition the year-end high en- phase points.couraged a profit-taking cotton futures said in Chicago there is a good of foreign money, mostly Ger- 214.5, a drop of
sudden sharp and demand crop
bousingman.
In addition there is a Friday ended on higher ground chance that private for the third time in a starts in 1939 will rise to as high growing beller that short-term rally of three points in the inequities Into gilts.
$ 1,175,000 units, up five per interest rates will fall again 1,125,000 soon. The rise in funds was re- row this week, although cent from last year's
ported to have been helped by realising whittled down starts.
American and continental buy- the extreme margin of the period.
the
anys of the week. This week's
SUPPORT
in
Public Outlays ing, particularly in the early Public cutlays for construc- sudden uprush in gilts saw the At Friday's close the list ruled 17 higher to our points lower, tion during 1958 rose six per lundated and long-dated stocks the lend, but the medium er up 15 cents to down 20 cents cent from the previous year to in
Issues 'naturally picked up abale compares with preceding new peak of i5 villan,
Departments of Labour and harmory.
Joint Commerce reported in a statement. Total volume in the construction industry rose to a
In the foreign market there record 49 billion, but most of
by was renewed continental sup-" the gain was accounted for
port for Germait Kelch bonda price Increases, the report said,
government A lot of the demand for these the week spending (both
come
from federal and issues was cold characterised France, Greek bonds also Features of the record player major damage and, on examina-ended January 2 chowed an in-local) which hits
tim. the contents were air crease of 75,000 bales over the entire post-war period will come in for some support on a undamaged and in perfect the proceding wiek, totalling continue during the coming year feeling of optimism concerning working order.
341,208 bules. The net stock of at an Increased tale, the the Cyprus siftution. Japanese 1958 erop collon under loan January survey of the Guaranty bonds remained firm. TRIAL DESPATCHES
totalled 5,103,103 bales vs only Trust Company of New 1.090.545 bales to the same time said, and may well be running last year.
at the end of the year at three Raw colton exports by destina-billion dollars algher than a tion as reported in bales by the present,
for test A number of eases Exports of the complete unit
examination to the United and
were sub- have been made
Italy uncĮmitted. The tests simulated as wook. States, Australia,
the possible
uctual Norway. In Britain it is being near as
Tracing the price path, the might be ex- used with transistor radio sets hazards which
March contract, after selling for building into a lightweight peeted in service conditions. down to 33.97 cents a pound on During one series of trials, a Decumber 30, moved up almost portable radiogram for playing
45 rpm. case containing a valuable and so a bale from the low to 34.87, the modem 7 inch recorda. It is small and light delitate instrument was dropped then lost about $1.25 a bale atj In the public sector of the which moved up to new highs. enough to be carried anywhere¦ 14 thaes from a height of four, the weekend,
feet. The case itself suffered no by anyone.
unit include a spare stylus and
which o brush
automatically eleans the sapphire stylus when the tone arm is returned to the olt position. To prevent wasinge
of the battery, in automalle Further tests were carried out stop la provided for switching in the fonn of trial despatches off the motor at the end of the to the United States, on which record.
reports were required before a
The
Lan entries for
the economy,
York
New York Colten Exchange_for But the issues of government decision on their adoption could; the 1958-30 season through Jan, spending and budget balancing. be made.
by the Canalla The case Total for, sensor,
Same period last year
The tone mr head is cupped
G were: and recessed to prevent damage
It was during these trials that Brita when the set is being carried or
and Continent The chipsss, turn- he feature of economy not in use.
Orient table and jone arm are of ligat one-tuving possesped
unit is
cars was illustrated. coloured plastic. tropically treated for use any was 1 cu. ft. smaller than a where in the warle. (The unit is
previous contulner used and a manufactured by Hornflows ton was saved with every ship- Limited, Mnryport, Cumber- ment
(Venesta land, for 8taur Electronics Ltd., Limited, Wintry House, Queen 2 Princes Now, Buckingham Street, Place, London, EC.4.) Palace Road, London, S.W.1.)
Electron Microscope
of 27 casex.
Nylon Headsets
Britain
headset
Trade
today.
Π
Dollar securities were quieter. a firm opening to the f
previous wick following the week's gains on Wall Street. Sonic KOR and In Canadians kindred shares were higher for
time but aluminium and I which promise to stir
mony battles in the newly-convened revera paper shores ensed,
Another feature of the week's Congress, are stirring surpris-
has been a spell of 107237 Ingly little interest among the markets
uncertainty among Industrial 1,330.992 American public, according to t
Sires equities. After reaching on wi the Wall survey by -U. P. L.
tine lgh on the last day of the Journal.
133.707 026,500 24,450
2462.978
Record Sum For Iraq
| POCKET CARTOON by OSBERT LANCASTER
"Before you go, i wonder whether any of you busy little merchant-bankers would care to hear, just what you can do with alt that goddam aluminium?!”
London Express Bervice.
of
switched out of
Steel
shares lost some their recent strength but shares with B American association tended to go ahead. The Brl- tish Aluminium battle provided the market with some big business and wide fluctuations in prices. Mctor and Allied shares have been generally Juggish. There was little Stores and doing in alterafts. kindred stares have reflected a January declining market, the
Im- sales not making much pression.
VERY QUIET
The textile market itself was
Capital Transfer Suspended In Tunis
Tunis, Jan. 12. The Tunisian Government, to-l night suspended alt transfers of capital from Tunisia to France.
The decision was taken at a cabinet meeting at which, the consequences of devaluation of the French Franc were dis- cussed Tunisia, which is in the Frane zone and whose currency was formerly pegged to the Frene, did not follow France's devaluation move.
Three Tunisian financial ex-- perts are at present in Paris mainly dullish. The brewery and further Onancial decisions sharo market was very quiet. will be taken when they return, Electrical and allied shares government
were on the dull side. Some of the leaders, favoured by the Americans fell back, such us Electrical and Musical In- struments, on reports
that American buying had arled up. Qlls were characterised by an ensier tone. Ultramar dropped several shillings and Canadian Eagles and Anglo-Ecuadorlans were dull. Anglo-Egyptian oil- felds fluctuated gently up and
Reutor.
officials said,
Bank Of England
Statement
London, Jan. 11.
The Bank of England state-
reads as follows:
down on presports of a settlement for the week endel Jan. 7, ment with Egypt.
The Kar market was uncer- Nctes is circulation .... lain although the trend is by no Pubile deposite
Other Private deposits mcana unsatisfactory.
Government mines were dull.--V.P.1.
Weekly U.S. Cotton Goods Market Review
some
bog sheetings
and
would
The
•
will be necessary,
these
securities
Other securities
Stavelota Ratko
Sterilag 2.006.060.517
12,200.137
251,433,028
170,000,000
47.317.980
30,043,1BM
20.6
-V. P. I.
Bank Of France
Statement
Traba
bo upped lead New York, Jan. 11.
Į probability Beniad, Jan. 11..
coterie cautious
also wide fabrics. Iraq has received a record
AEW business, in the col-trial fabrics like ducks and sue pround by ceni a pound on some observers fell.
waited to evaluate the trend sum of £83.812,429
ton grey goods market coating fabrics.
Paria, Jan. 11. The key to the future trend of ocmpetition through lower- COUSTIC engineers f venues for last year from the
The Bank A
imports, plus market will priced forelan
of France stató- Opinion remained conserva- of the grey goods Iraq Petroleum Company and its continued at a slow pace have designed N electron microscope bas
optimistic. Observers be shaped by what happens in government policy on raw cotton ment the week ended pra associates here, It was announced this week. Pre-occupation lively of A been installed at the Roya! telephone
through rose-tinted the finished goods trade during prtoes for the 1959-00 sepson, 31, reads as follows: College of Surgeons of England nylon. It is a combined receiver
Oll exports during 1988 total with Inventory-taking, and looking
by: 1. the immediately ensuing weeks, The question of whether mills
Total old holdings 247,850,000, 100 part and transmitter which, in spite
a carry-over of the holiday glasses were influenced for research work with
8,340,080 STI lod 33,255,204 tons also an all- This or a delicate appearance, fa
atmosphere, continued to be The steadily rising stock market; brekers sald. If finished goods would continue to cpcrate on a Totsi atlier currencies
WAS week
another sight balance abroad cular reference to cancer.
2. Anticipation of increased con- } business holds to present levels, ave-day
in EPU
14,125,200,000 Instrument has a magnification robust in construction that it is time record,
for
sumer purchasing power in 1952; milis anticipate a resumption of background consideration. eritle. virtunily unbreakable. The new The Iraqi Government paid restricting influences.
Hard fibres Jextured renewed Advance to Biabil
Lien Fund of 120,000X, nna
3. A tightening supply situation grey goods buying in the near £680,739 AS laat woliła just over four ounces the, oil company
atrength in sisel. Burlap prices Total bills dizemused 2.221,070.380.200 examination of the imazo
But prices held firm it inco of as more mille operate on a five-future.
Conversely, if finished goods Armed with news that Calcutta Banknotes in ciretis corporates a binocular telescope about a quarter the weight of the second instalment of a 1957 with a further magnification of corventional headsets. Standard lounot: 223 million following the inactivity. The infrequent day week; 4: Probability of an
of the company's appearance-ot, some lower-priced | carly boost in mill wagn eftes ne buying tapers off, and it con producers' were determined to tRNAL), 1,600,409 081,100
floor prices Act Cuzeni sopcounts and
deposit
878,075,982, 420 10X Metropolitan Vickart Telephones and Cables Limited, the sabotage
House Trafford Conbarlight Eldortical Co. Ltd.
Aldwych, pipelines in Syria during the rotale print cloth fabrics was. Mills frolling dim on prices vertors are unable to get their maintain the
Buez crisis—Rester,
offset by price mark-upe for anphasised the wato' increase prices, a new look at the allia- ' last February --UP.I. Park, Manchester 17,
London, W. C. 2.
zero