RÄNSPORTATION
CARAVELLE JET FLIGHT SIMULATOR ORDERED BY SAS
A
CARAVELLE jetliner simulator-with an imitation cockpit that reproduces the motions
THE CHINA MAIL, TUESDAY, JANUARY 20, 1959.
European Money Things Went Right For
Reforms A Great Success
By SYDNEY S. CAMPELL
By RONALD BOXALL
Britain Last Year
London, Jan. 19, DANKERS are not ones to accept good fortune D without question. When things go right they want to know why. Last year many things went right for Britain and bankers are in perhaps the best position to hazard a guess at the cause.
Last week, Mr Anthony Tuke, Chairman of Barclay's Bank, in his annual address to stockholders attributed, was effective in that it focused, mnelinery the spectacular recovery in Britain's economic fortunes in large measure to "the reaction.of businessmen, British as well as foreign, to the removal of their fears of a possible exchange crisis."
London, Jan. 19. Except only for some threatened labour unrest in France, the sweeping Euro - pean currency reforms of December 27 continue to be a great success.
and Aluminum Belgium has been able to cut Unit Reynolds her bank rate and Germany and Company of America became Britain are in line to do so interested in the company, the in both countries it would be Church Commissioners bappe the sixth cut in a row,
ed to be the second largest holders of British Aluminium. Even the dimensions
Though their holding was less that From such severe than three seen
per cent tavasures as France has had to
Total capital company's impose all the more severe much less than one per cent of for having been left so long -
their total portfolio, they are nsion. many observer: would have ex-
good people to follow, preted not merely the prezent
The Church Commissioners threat of labour untest, but the actuality of ugly riots, The were a year ahead of other in- latter has nat deeuired and the
Brest may calm down.
of actual jet flight-has been ordered by Scandina-Fre: diflenition remain vian Airlines System.
uf lo
be
The unique simulator will be used in help train SAS and
Swissair flight crews in operat Turboprop Airliner
ing the 515-tnlie-an-hour jet air- .በትyrr .
The special jet apo train
device is being built by Redifi Iad of Crawlty, Suzax, E- Lind.
WILL BE HOUSED
It wil be ginnt
housed
bow
"Simulator Hall" under construction at SAS head- quarters at Broina Airport, Stockholm.
To Replace Dakota
THE
the
Disinflationary
which
to
dis-
The
the
1
Hawker Siddeley Group has given the go ahead to its Aviation Divi-
Experience in other countries sion to develop as a private
thut
Litter when venture the Avro 748, a new is short/medium range turbo-inflationary inedielne becomes
salutary, necessary and prop airliner. The "Shaulator Hal" also will
has This announcement comes government heuse a full-fight shoulator for
administer DC-8 intercon-hard
of the courage heels the Douglas tinental Jel. SAS has ordered Group's success with its other generally wins through, and R the DC-8 simulator from Link private venture, the Armstrung does not take long before the the country begins to feel belter for Aviation, Inc. of the United Whitworth Argosy which
of British Anistry
Defence it. Stales.
R.A.F. have adopted for the Transport Commanth.
The Avro 748 will carry 38-44 pesenters, be fully prestur se
ad will have twin Rolls-Royee
Work is Dart engines. advanced on this new Aircraft
The Caravelle simulator
เร
with
and first fight will take place early in 1900.
Both France and Argentina the distaste for may evince
countries.
medlene, but both now have a better chance lo Pull round,
If they do, it will be a help to work ceonele stability and developments in Anglo-Egyptian
As a startin replacement, relation
all over Be
an exact replica of the actual flight deck. Instrumenta materials
identicnt OTO those used in the jetilner,
In operation, the simulator completely reproduces alt tha tappens in the cockpit during en nettal Carnveile flight.
For example, the throttle" has been adjusted to have exactly many merador..
Mr Mikoyan's vidt to the the world wht be interested in 10 United States and United States the same resistance
release the robust economical air throttle which.
trans-siness are also encouraging thrust of the Carwelle's Rolls-pori.
the Federal Reserve Bank of Commenting on this develope Royce engines,
York, which has been New The ment, Sir Itoy Dubo, A unique feature of
the United caniinary absent Director uf The Redifon Caravelle simulator is. Managing
States busines recovery which that the entire cockpit lts and Hawker Siddeley Group, said: dips In response to the controls
"We have been considering Clargely because i the stratil market, home and Washington's wisdom in impos- --reproducing the motions of Light
overseas, for this type of air- In two rises in the bank rule FLIGHT PICTURE
liner for quite some time, and at a time of still serious un- the believe there is a demand employment) given AL
moment,
this brighter tone. Instructor who sits at a separate | all control beardy switch to the "visual presentation system,
41
By means of a television camera scanning a bure map the
over the world for
mal British airliner,"
pilot sees in front of him a Copters To Lay Pipes
tore of the airport as it looks when he approaches and touches the runway down on
of
ARTIE...
"Never mind about the hout franc, Fifi — just celebrate the free bound with me!"
tto
undertaken-might businessmen to
A Tax Cut
view,
on deflationary lend foreign alication Influence, which had in fact, bo assume that Brilong are gobig on Eun to take effect, mine months another spending spree. This is Eefore, but had been to some not to say that foreign oplalon" extent overlooked the generalis all that matters when deciding atmosphere of gay inflation."
future policles, But in This conclusion-which other he says, "proved ineffective in Titly holds an important lesson general, and especially during, authorities have arrived at the face of continued ease in
for the future, In Mr Tuke's next year, what in right for simultaneously - has more supply of money as distinct from words: "Conndence Is hardly "confidence" will be right for thun academic interest, For if its price, Doubtless high rates won and easily lost; as clusive Britain. confidence played such a vital for money add to the force of
as it is precious." The problem in restoring economie other restrictive measures.. fer 1959 is to advance from the part stability, it follows that a loss of even so, confidence is a much present position of stability la
In "The Economist's" and confidence can upset any plan more potent factor than the rate of industrial re-expansien
without causing businessmea, which is shared by many others, to proceed from stability to re-of terest." And the dlcully-..
speetally foreliners, have the best thing the Chancellor cond thoughts about the value can do to bring about a healthy f the pound. In other words expansion of economy, Is to e retinie, without destroying make a sizeable cut in incomu pontidence.
Britons are some of the heaviest, taxed people in the world and both they and many foreign experts are convinced that they will not display the initiative and capacity for work that they are capable of, while co much of what they earn is taken away from them in direct inxation.
London Express Bervice.
As a
stitutions in jumping on to the
of equities. doubled bandwagon
Cabinet Minister privately re-
ha; taken
Evidenced
n
marked of the great switch from bonds into equilles in so many countries the Archbishop of Canterbury started it."
One reason (er the outcome of the British Aluminium lussle is that British share prices which look dear to Britons look cheap to Americans in relations to earnings of dividends.
The extent to which the Brilted States and Canada have countries is Two Widgeon hellcopiers are become high cert TWO
Brith Industrial blue chips lensti evidenced, at to operate, under character constantiy
stand at only about half Wall The Caravelle simulator with the Graolan Oil Exploration this helps the European and
convertible eurreneles Street's pelees it non-collar
to sterling continues
be a play a key role in crew training jand Prixiucing Company in other
seriously Pen, in conection with "pipe- without
prejudicing The jet
phares Other British Buceces. for the Caravelle.
The order the two dollars slated to go into operation onylag operations.
may attract American buyers, after the д- SAS European and Middle Eat has been placed with Westland:
particularly Airesat Lld. by Bristow Hell- rutes early in 1859.
Lid., Hensbridge,
certainty of the British general opters
resolved.China election Somerset
Mall Special.
Soviet Complaint
Landus, Jan. 19.
Sterling has been firm and would have been firmer stil If the Bank of Eugland had not supplied sterling to fill the con- centrated buying by Reynolds Metals and other purchasers of sterling securities and goods in Aluminum today that "obsolete" rules" of
to the torage measurement. restrict NE reason why certain air-boating its rivat
chosen Holls. Company of Amerien lines have the development of new types of merchant verrel.
Royce Conways to power their control of
Compury. Reynolds had to buy The complaint was made by American DC-8 and 7075, ue-
millions of sterling with which the Soviet delegate at the as-cording to Amerlean Aviation, sembly of the United Nations is that these airlines have been to buy the shares, Consultative inter-governmental impressed by Rolls-Royce's now arguments that the by-pass organisation, maritime
ertine his belter fel consump meeting here.
oh, yet is considerably lighter and quieter than the straight turbo-jet of equivalent power.
The Soviet Union campained By-Pass Engine
The assembly agreed to in- vestigate the shuutin France Presse.
is
HONGKONG
British Aluminium IMPORTED
MORE RICE
That shrewd Church of England,
many the have sold out their holdings of British Aluminium to Reynolds.
investor, the is among institutions which
COMMODITY PRICES
RUBBER
SINGAPORE
The market ruled geist aa! featureless throughout the morning with it change in
values,
There was a fair laterest in lower sheets but onerings were small and high prices,
No. 1 rubber per it. Feb. 8714-864)
Mar. 736-37' No, a rubber per ib. Feb. 05-833 No. 3
་་
No. 4
B314-04
Spot rubber unbated...
nơi
"
Blanket creve
28-30
No. I pale crepe
BR-10
Rex
NEW YORK rubber
futures today
closed 11 to 19 points higher
with sales of 35 contracts.
Spet: 20.20; Mar: 31.50; May: 34.49 July: 34.00; Oct. 32.10: Dec: 4.00 Ma: 31 90: May, 1.00; July: LU PUT
SAO PAULO
Clone futures rlees, in ezuzeno; per kilo as follows;
May: 5010: July: 59,10; Oct: 5976; 17 40.
In The United States, the Average price of one-th at 14 spot markets was designated 34.29 cents,
Total sales were 25,370 bates, U.ME.
METALS
NEW YORK
Jan. 10. Paices of metal futures closed today in conta per lb. us fol-
Jan: 30.35; Mar: 30.80; May: 30.00: lows! July: 30.09; Sept: 30.00; Nov: 30.30: Jan: 30.00.
The market was quiet again a generally lack of Loday on consumer interest. Spot, No. 1 was quoted at 30% cents.- U.P.I.
Lend JAT.
Zine
Mor. Fan, Mar.
Copper Jan.
Tin
Mar. Jan.
Mar.
LONDON
11.435
11.000 10.80b 10.000
28.400
20.00b
9754i
91.12155
SUGAR
New York, Jan 10. Sugar future prices closed to- day as follows:
Contract No. € (World) March 3.10; May: 330; July: 330; 330: Mar: 3.31: epl: 3.30: Oct: Alay: 3.01; Total sales: 210 contracts; Spot-cents per 15. fob Cuba): 2.30. Upen interests: 7,540 contracts. Contract No. 6 (Domesito) Mar: B., May: 5.07: July: 5.01: foot-icents per cif NY ex-
duty): 5.0.3.
Open interest: 2,140 contract- UP.I.
FOREIGN EXCHANGE
NEW YORK
Closing rates wern:
Curada England omical
||
30-двух
20-day
COTTON
NEW YORK
Prices of cotton futures closed
today as follows:
pot: 35.00 nom; Mar: 34.63; May. 34.1: July: 34.11; De: 32.18: Dee 31.00: Mar: 31.80; May: 31.15; July: 51.15.
NEW ORLEANS Prices of cotton futuros cloned today, as follow
Prices of metals closed today
In sterling per long fan as fol- lows:
New Zealand
South Africa
dls
Buyers Sellers
Belalim Uniquay Paklitan
70114. 762 70114
21914 230
LONDON Closing rates were:
New York MON TOAL Amelerdani Zarunla Copenhagen Frankfurt Lon
Tin
Пос
copper
3-moontli
Spol 3-monit
Jan. April
2261% 221
Lead in half
7155
712
Zine 2nd halt
JKD.
1804
Milen
April
72
1914
Perik
Others R
Washington, Jan, 19. Hongkong imported 9,000,- 000 pounds more rice in the first nine months of 1958 than in the same period in 1957, the U.S. Department of Agriculture reported today.
Imports from Thailand de-
but clined sharply,
increased And shipments from Cambodia China more than raade up the difference, the Department's and Crops weekly Foreign Markets Survey sald today.
Hongkong Imported 374,000,- The 000 punds of rice in January-September period com- pared to 585,000,000 pounds in the same 1937 span.-U.P.I.
as a succession hove
of chancellors Bank adynurts, he points out. discovered is to foresen began to rise again, before the the effect of confidence on their first of Ave subsequent reduc-
tiene
the in
Bank Rate. best takt plans,
argues, there must Surely, he have been some other factor t work.
It was no surprise that re- medial measures
taken as the time of the grave exchange crisis of September, 1957, had the effect of arresting inflation, Thai was what they were meant to do. What has surprised many people, is that they did this so quickly and so effectively,
Bank Rate?
in
Take Stock
rupt
to
The Worries
inx
R
to
The danger of allowing the pendulum to swing too far back towards Inflation is the one that That other factor was the fall
worries many economists. I raw material prices.
Inflationary symptoms are began early in 1957, but, anys
ormant rather thon dead, and Mr Tuke, reaction to it does not
unless just the fight degree of On strictly econorale grounds, appear to have become generaleflation is achieved, they will other things have an equal, per-
the Introduction, :nul
the their former { haps with all
prior claim
Pur- Chancellor's generosity. be-September, of measures which
businessmen ralised
to take potenes,
chase lax many articles is rlock of the situation.
Every
Theke argument returns to still unjustifiably high, conclusion from the question of confidence that is still much modernisation to be Mir Tuke's
factor in this is that, "as the arising of intangible
any done in Britain's public services. the most economie calculation that "The And there are political con- the Bank Rate was
Economist"
plly
named siderations too, for the Govern tangible of these measures, it
he
of ment that will most certainly economies.
seek re-election this year.
Mr Tuke finds it hard to lieve that the cause of improve- ment can be found in the reven
bank per cent
rate taken la isolation.
"Previous attempts to check inflation by high interest rates,"
LONDON
CLOSES EASIER
London, Jan. 19. The stock market closed mostly easier today under the pressure of consider. able profit-taking and in- dications that the Con- government's servative popularity is waning. Gilt-edged seruitles were fractionally lower.
Industrips were mixed with lesses predominating.
Steel
RECORD DAY
London, Jan. 19.
Atack London
Ex- The
a record day change had
by the today, measured number of bargaina marked. There were 19,831 dealings on the Exchange, compared with 16,873 last Monday,
The
previous peak
HONGKONG STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $321,000. Noon quotations and the morning's transactions were:
Buyers Sellers
BD #10
Bhares DANKS
K Bank INSURANCES Union Lombard
SHIPPING
Waterboat Wherlock LOCKS, ETC.
K. Whart Provident,
10) .....
LAND, ETC.
33.70
73
815 5.00
100
IK Hotel 23.30 23.50 UK Land 30% 207
But confidence-wise, a cut in income tax must come at the head of the Chancellor's list of
fourth diniension Anything that the Chancellor does to release more demand i |Britain-which he must if industry's spare capacity is t be brought into use and further 1959. investment in plant and
*
Bales
*
12 12.20
12+
1250 T
400 or 30.25
Humphreys Realty RUBBER Amalt.
15 15.00
1) D
30.29 13.00
1.90
of
1.00 12000
20000 6 21300 15000 4
1.00
1.90
Tru..
1.393
20000
A. Tawal
Singala
2403
UTILITIES
iram.
27.20
103 Berry!
100 2
1017
0
30 934%
10.20 10.40
500
26.40 25.70 24 24.40 8.20
1500
5:00
14.30
25.G
24217
200 ( 25.50
19,399 was set up on June 22, 1955.-Reuter.
stock suffered the widest su!- back. Unilever ran counter tu the lower trend.
stocks elated lower. Della German,
Greek and Japanese duns wire all higher in a firm tend market.
Gold chorea improved, but copper shares were depressed.
Oils last ground with the lunders closing as much as two
shillings --U.P.Ï.
OT nore
Star
Younati..
c. Light,
10
Electric
+(0)
Macau E... Гетерколе
1.
23.40 1500
STORES, ETC,
Dutry 10.40 1639 WOLTONS
33.30 13.60
3.93 4.00 Textiles lower MISCELLANEOUS Vibro
15.30 INVESTMENTS Allied
4
measures
for the Orst half of
London Express Service).
B∙I E&A
P.OB.I
COMPANIES
Leave U.K.
Sailed: 23/12 Sailed 10/12 Salted 10/1 Salled 071 270 January
Cth February
Due Roszkong
In Port
6th February
0th February
13th FebrUKTY
14th March March
PASSENGER/FREIGHT SERVICE-
PENINSULAR & ORIENTAL 5.N, CO,
Outwards "CHUSAN" “KARMALA”
"CONFU" "BOMALI"* "SALSETTE" "CARTHAGE"
Homewards "PERIM** +"CBUSAN"
"CORFU"
Leaves Mongkong tiue Landça 23th January 20th FebruaTY
2nd February 4th March
1301 February
Inth March
13th April
"CARTHAGE" "CANTON"
"SANTHIA"
*
2000
"FULTALA"
Exchange Rates CHATTER
in the local Business WD* done unofficial exchange market morning at the following rates
U.S. dollars (per $1) Sterling notes (per £1) Australian notes iper C!) Indonesian rugish (per 100). Blerticals (per 100 Singapore (Biralts)
3.74
15.03
32.70
0.25
20.70
Wall Street Prices
18'utiles
al stocks
Inc. Corp Allied Chemical
4012
Jr.. Nickel... ... ... ... ....
Kennecolt Copper
Luckheed Aircraft Loows Inc.
Lone Star Cement Montgomery Ward National Lead
פר
ON WALL STREET
New York, Jan, 19. Tri-Continental Corp. shift-} ed to common stocks in 1958 and at the close of the year had increased itsi portfolio of Commons to 864 per cent from 75.1 per cent a year earlier.
has paid Scovil Mfg, which dlyidends for 103 straight years, makes small things like pins, paper clips, metal screws, 1yre 001vrives, zippers, radio parts and myrlad ethers. It probably wili show a net loss a 1958 but is 44 expected to make a' moderate according to
11 proat in 1959,
דכר
Walston & Co.
13th March
14th April
17th May
*
Vis S'pore, Penang, Colombo, Bombay, Aden & PL. BAIL * "PERI" extends to famburg, Retardant & Antwerp and proceeds via Aden only.
• "CHUSAN" also-calli at Naples, Marseilles & Gibralter.
BRITISH INDIA S.N. CO., LTD.
due 20th Jon. from Japan
Lalls 2122 Jan. for Singapore, Penang,
Лangoon & Calcutta
due 24 Jan.
*alla 75th Jep.
"SANGOLA" deo Slat Jan,
from Japan
for Singapore, Panang. Hangoon & Calcutta
From Calcutie, Rangoon
Straita
and 1st Feb. tor James
P. & Q./B. 1. JOINT SERVICE
Feb. trop Kanda, Bombay,
Cochin & Singapore
sth Feb. for Japan
from Karachi, Bombay Cochin & Tullcorke
salle 11th Feb. for Jupes
..
Nur 18th Feb. from Japan
Lalle 18th Tob. for Singapore, Penang, Bombay, Haraoh), Dubai. Koweit, Basradi & Khorramshahr
due 19th Mar,"from_Jepan
sulla 11th Mar,· for Bingapore, Penang. Cochin, Bombay, Kara- sh, Kuwait, Barrah d Khurramshahr
+
"ORNA"
due
all
"OKHLA"
Que 11th Feb,
*
"OZARDA"
*
"ORNA"
EASTERN & AUSTRALIAN 5.$. CO., LTD.
"NELLORE"
que 29th Jan. from Japan/Shangbai Sells 2nd Tah, for Labuan. SandakES. Hoabade Urdner, Mali bourne Adrik.
due tếh Pob. terza Japad ail heb ter Bandakan, Brisbane,
Sydney. Newcastle" Melbourne
New Yoric, Jan, 19. Daw-Jones closing averages
General Fonds
General Motors
10%
Gelly Oli a
26
were:
Goodyear Tyre & Rubber
1221;
30 industrials
504.40
eyden Newport .................
20, rails
100.57
int, Business Machine
BIT
02.43
Int. Jarvister
42
207.70
40 bends
65.10
1004
Conth, future price index
140.17
71
Closing Prices
Axle
$ 2454
Now Yerk Central
20%
#n
Olin Mathieson Lear
COULD BOOST
"NANKIN"
E
Jan. 19.
Allis-Chalmer
28
Pacific Gas & Elec.
American Airles
Pan Amor, World Airways*
H. L
Green Co. (Junior
Americon Metal ...
316
Parasount Pictures
American Emeltin
Penn. Salt Mig.
Am. & Torn Power
1734
Tepublie Bleef..
212
Finetair Oil
Aranca Breel
21%
Encony Mobil
2.0145-5/10
Armour
2012
Etiquated
100 2108
At Cona, Mining
1431
Baltimare
Benguet COOL
Bethlehem Sterl
Canadian Pacine
་
Chrysler
Colgate Palmolive Commercial Credit Commonwealth Cleo. Coneguanted alon Crown Zellerbach ........... Cuban-American Sugar. Diamond Alkali ............. Dupont de renkurs Kakraan Kodak
Reynolds Metal
Standard Of (Cal
Standard N Standard on Ind. 36 | Bioeg Rock.
Sterling
Studebaker-Bayward Baswift & Co.
2016.
Union Carbide Viuled Aircrati
Us, Cypru 18. Rubber' U.S. Sinelung
U.B, Slee
Warner Bros. Wentinshare Electric Woolworth
2.05 to 2.75 next year, and 3.50 In the following
year, accord- Bring to J. R. Williston & Bean,
Bacho & Co. says Joy Manu
tacturing has formed a strong
Bu base with an outstanding
techolcal pattern.
year....
Panhandle Eastern Pipe Linu could boost its dividend of 1.80 to rate by next 12461aho Power Co. 1959 nel muy nadip from the 2.00 estimated for Gr the past year but a new bigh of 3.3 is projected for next year than 4 when tho and botter
programnic 7xpansion
completed, according to Harris, Upham & Co.-U.P.I.
URL
40
department) with prospect
of
*
*
All warrels have liberty is CAG SE Any porte on or off the route & the rabte a influles ses enhjøet to change ga umskämtent with or withost majice..
5
*
*
*
For full parhical ine apply to MACKINNON. MACKENZIE & CO
OF HONG KONG ID Telephone Mar: 97911
1.03-17/2 230-11/10 260-0/14 2,00-1/10
1,70%
20-11/18-$.009%
$1003714
Am. Tol. & Tel. Ansrotids