-
1
THE CHINA MAIL, WEDNESDAY, MARCH 4, 1959.
HELP FOR POOR COLONIES
Direct UK Loans
LANSPORTATION
For
FIXED
AIR-FOAM FIRE-FIGHTING FOR HANGARS
CIVIL aviation's first fixed air-foam fire-fighting
system, designed to combat aircraft fuel "Spill" fires, was successfully tested in Canadian Pacific Air Lines' Bristol Britannia hangar at Vancouver International Airport recently.
The acceptance test, staged by
the Automatic Sprinkler Cool
Development Purposes Expected
From RONALD BOXALL
London, Mar. 3:
The British Government has now taken measures to implement its promise ot the Montreal Commonwealth Economic Conference to make direct loans to colonies for development purposes.
Canada-at-a-total-cost-of-$6.000 Hush-Hush House Foro colonies in the next five not just kesalise
also marked
10
world's best
dress rehearsal of an air-foam
7
anti-fire syrien installed in Jet-Engine Testing
commercial building. The caly other devices of this kind, cre
NOVEL type of jet air-
Jocated in U.S. military hazugot liner anti-noisa hangar cannot borrow money in
Under a proporal now before money into going concerns rather Parliment, up to £100 million than into what tied to be call- will be made available for lend-ed backward crent. And this is the former years. The loons will not bathow a better financial return. tled to specific projects and Investment opportunities #re borrowers will not be obliged | rieater in a developed country to spend the money in the Unit- fiksa in an undeveloped one bes ed Kingdom. These new losna causa the bralc requirements of ere intended for colonies who idustry-rezd fallways, har
thebeure and sa on are already London capital market. Infuled.. is at present being erected
terest on them is lower than a In 1930 according to a GATT Airlines colony could expect to pay if it study over £1,000 million of Scandinavian System at the
investors directly private Stockholm- spproached
long-term capital went Bromma airport. It is being but the method of repayment fe countles that either exported built by Rostfria Andorion, annual instalment of ol! or were semi-industrialled, principal-means | Nen-industrialised countries got Interest and that the yearly service charge fleas than half that amount. The of then will be higher than on falm of all developing countries a market lean which is paid off is to afirset private Investment. Df or renewed' at a fixed dite. But the problem for many
them is how to finanes the pro- vision of the basle services on
During a pre-test conference attended by a group of over E representatives of the air travby port industry. tire fighting, ex perts, military personnel and in Bronce underwriters from the U.S. and Conadas, Ralph Higgin- Auto- son, Managing Director, malle Sprinkler Co., announced that the RCAF plans to stall alr-foam protection systents In at least two Canadian bases He wilded that Trans Canada Air Llues will follow sult at their Dorval Airpent maintenoner headquarters.
SPRINKLERS
buthed
air
large Stockholm manufac- turors of stainless steel pro- ducts, on the principles laid down by the Gothenburg engineer and acoustics cx- pert Stig Ingemansson.
the
Popularly known "hush-hush house," the hangar for the is primarily intended Caravelle Jet liner. It is claimed that the new device will make
to some
Withi
five - and - one halt it possible to bring down the minutes after the test started. ¡ noise level in test-runnlag the 140-160 450 of the 600 sprinkler in the aberati's engines from
30 deelbels, * decibels hangur rent had released
which is a level fully ncceptable 180,000-gallon deluge of foom 'which
three to Swedish housing authorities. quarters
steel and con- of the hangar finer The hangar, (30,000 sq. ft.). Following the crete structure, is equipped with six-minute operation, the entire two intake silencers, two exhaust covered by a thick, silencers and two secondary air area was while, foam Llanket which had inlets. When the engines are, to tire be test-run, the aircraft win- to be washed away by hotes.
ched into the, hangar, tail first. Two electrically operated 20-lon pneumatic | sliding gates with [ comafuntion, Lir-form and rubber lining-cach gate with a the water deluge system as opposed semi-circular reccas to
water normal
sprinkling shape of the fuselage-are then and equipment only,. G. R. Elston, closed, leaving the wings Fire Protection Engineer, Cana- the front part of the dinn Palac Railway, Vancouver, | outside the hangar, said, "An air-foam deluge is not
to
In explaining why CPA chose
mandatory according regula SILENCERS
fuselage
lons laid down by the National Fire
Association. Protection However, when a gasuline turbine fuel fire breaks out in aer hangar, foam is a most effective which extinguishing medium, because, unlike water, it will blanket fire areas underneath aircraft wings and fuselages. Again, spilled fuel will float on top of water cover- ing a floor and continue to burn.000 deg. C. before they enter the but it will sink right through-stage exhaust silencers. The feam and he smothered.
The silencers are of the serow or type. Inside the silencer cylind
there are two helicoids, have a "meat-mincing" effect on the air flow passing The the cylinder, through
io coul secondary air is used down the exhaust gases, which 01 have an outlet temperature
A
air
first stage 5
double-walled tube for low-frequency dampen- "Protection of the contents of ing while the second is of the this hangar is of prime Import- same screw type as that of the
and secondary ance when you consider that it. Intake is not unusual to park two silencers.
Brialel $3,500,000
Britonnius,
The running of the engines to a sound- carrying up to 16,000 gallons of supervised through
Insulated window in the hangar, fuel, in the bullding."
contact being maintained by telephone with the ecckpit crew.
The "hush-hush house" has been designed in close collabora- tion with Sud-Aviation, the French makers of the Caravelle
Investigation Into
Ships Collision:
New York, Mar. 3.
Legislation
BUYING ONSCREDITAM
Furniture, and Furnishings
(OWING TO SHOPS)
L
کچھ
160
Care, Lorries, Vans Lin and Commsins.
202
201
Hardware, Radio, Electrical Goods:
Cycles and Proma (OWING TO SHOPS).
*EX 97
шу
Lin
110
1957 1958 Industrial and Farm
.. Equipment
An authoritative forecast says today that "never-mover" buying in Britain may double in the next 10 years. This seems a reasonable view. At present, it still amounts to only about £12 a head, in spite of the hire-purchase boom that has followed the ending of the credit squeeze. This chari highlights the way it is growing in a cross section of goods.
HONGKONG STOCK EXCHANGE
by
Our Own Correspondeni
which private capital can build.morning amounted to approxi
Public Money
At the game. Ume legislation has heen introduced to increase available for plant the funds
That is where "public" money Colonial under the
Develop
comes in and it is available from ment nod Wellare Acts. A
o bewildering variety of sources. extra £65 million is being re
14 may come from local soureen aside for this purpose ind The
-laxallen, interest on sterliw period in which schemes under
balances and so forth from the Acts can continue in force is being extended for four years leans raised by government of
the developing
Bul countries, from the end of March 1969.
the former is oled and the leans latter increasingly difficult to Exchequer The new
oblain. between will all the Culenial Welfare
Noon quota- mately $100,000. tops mi .the morning's transactions were:
HK Drak
XL
INSURANCES Uniun
Chicago Grain Market
Chicago, Mar. 2.
209 noin. 203-1
Wheat, No. 2, red
Spot
STOCKS CONTINUE TO RISE
ON WALL STREET
New York, Mar. 3. Stocks continued their push into new high ground with chemicals, electronics issues and the long neglected oils leading the way.
Zenith, opening lule, ran up another 0 points to $220. Sperry Rond rose a point and Holmon Electronics three points.
Thiokul soared another three points to pace the missile lue! group in further sharp gains, Stauffer Chemieal rone 11, American Potash two points, Monsanto Chemicals more than General Tyre. with an interest in the field through its Acrojet subsidiary, moved up more than
North point, American Aviation and Gulf oil, also with interest in fuel fleld, gained around a point.
one.
Amerada
Amerada and Texas Com- pany gained over a point each and most in the oil group were fractionally higher.
Arm, Motors were steady to ¿teels generally improved 0 bit, and Lukens featured with a Cerro De Pasco gain of 22. 110-120 and Magma rose around a point
in the coppers.
Today's volume was 4,700,000 shares.
Of a total 1,247 shares traded, 651 were higher and 400 lower. American Exchange volume
was 2,370,000 shures.
Bond volume amounted to $0.210,000.
Dow-Jones cinsing averages
In Harvester
International Nickel Ini Tel & Tel
Kanta C. 'Power & Light Kennecott Copper Liggett Meyers Tob. Cr. Lockherd Aircraft Loews Incorp.... Lone Blur Cement Co. MeDermokt 2. May Mesata Mining
Minion Development Monsanto Clerical Co. Montgomery Ward National Bleult Co. National Chals Reg. "A" National Lead
National Seri Corp. New York Centrul Norfolk & Western ily. North Amer. Aviation North-west Airlines Olla Matalesan Qua Elevatora Oxford Paper Co. Pacific Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co Pern. Salt Co. Procter & Gamble Co, Pittsburgh Plate Glans Radio Corporation Radio Cori. Pref. Republic Steri Reynolds Melal Safeway Stores Sinclair O
Sath, Cline & Freneli Sacony Mobil O Giandard Brands
Standard Oil of Cal.
(Com.)
Standard Oil of Ind. Standard Oil of NJ, Sleep Rock (Toronto Exge.) Stering Drug Co.
Sinkely-Van Camp. Studebaker-Packard Corp. Sunshine Ming
Swift Co.
Texar Co
Text Inc.
Toko Citem.
Mar. 21015(11) 23316(L):
"May
July
10714-
Sent
Dec.
Corn, No. 2. yellow
Spot
. (uld)
1101
Businces done on the Hoog- kong Slock Exchange this
Mai. (new)
1304
May
11012
Justy
Sep.
1107
Dec
11312
Ryo
Mar,
May
140% 133
Oats
Bhares Buyere Beltere
DANKS
Azlen
Mar..
May
647+3 0516-
Soybeans, No. 2, yellow
7121
Shot
225 nom. 121
were:
Industriale
410.28 Tri-Cont. Werrania
May
223%2
240
todia
104.43
Union Carbido
12
July
18 tes
97.04
Unton Oil of Col
Sept.
05 stocks
-210,70
Unton Pacing Taitway
Nov
200
40 boks
06.47
United Aireraft
271
Barley
Cum iure price index..
248.52
U.S. Foll "B"
DEL 4.55
Sput...
110-133
ind Development grants which are tied
As the Moni:enl Common- wealth economic conference re- cognised, these countries must
DOCKS, ETC.
New York flour
Closing Prices
U.B.. Gypsum
1.5. Rüber
Dock Frovident..
44
200 lb. zack
$12,800
12.30
--V.PI.
Alden Inc. Acy.
# 2174
UA. Sted
Alled Cherntrals
1051
Allied Mills Inc.
44
1000 a 21.30
Allis Chabrera,
2912
1300 & 313:
Ars Brake Shoe
40
200 i 31%
American Airline
204
200 # 314
Min. Cable & Hadio Carp.
10
Realty RUBBER
1473 GIS
American Cyanemid Co.
844
Amer, & Furgn. Power
Ast
2.15
12043
30
2.30
2011 20.00
210?+
104
107
Yuurent
DI D
C Light
30
10 5 300 10.00
1000 + 10.5
Electric XD
25 25.29
950 25.19
1000 e 23.1
Macap E
1.30
25.40 25.00
172 25.43
дал
|CITY LIGHTS
"Nice of you to see mo
Mr. Parking —“
London Express Sarpton.
to specific projects and leans from London capital market which are too expensive for the peer colunits,
The cost however is not the latter only drawback to the methed financing economic development. Investors are WETY colenies of lending money to which are
selt- apprenching povernment and the result has been a sharp fall in the amount
jet liner, and with Rolls-Roycefinance raised by London
this type of aircraft, the hangar
is in principle suitable for all
The peak post-war year for aircraft with the jet engines London teens was in 1052 when Guard--opensted-on-the-fusingehaltska nearly £10 ml~~ Tourings today to find hangar is reported to cost about und by the ment. Last year out why the liner Constitu- Kr.1,000,000 (£69,000) and tion sliced through the bow scheduled for completion
of a tanker on Sunday in
heavy fog off Now York.
The Norwegian tanker Jalania
made port under her own power
month.
9RIPPING Waterboat. Wheclock
rely on help of other friendly LAND, ETC. cruntries and international in-UK Hôtel, 23.10 23.30 stitutions.
IIK Land.. 31 32
Теаль
Among the latter, the World Banks has been Increasing its rate of lending and shifting crophasis on its operations from alding reconstruction to financing development. The proposed UTILITIES doubling of capital stock of the Bank (rgely rubrerloed by the United State, Britain and other industrialised
will countries) cncble it to maintain # High rate of fending und shift emphasis still further in favour of underdeveloped countries,
Under the heading of help for other friendly countries, Brush Government, has now come up with a scheme that is specifically designed to aid these colonies whose need is pol matched by their credit worthiness.---Lon- don Express Service.
Yesterday's Closing
Stat Fert!
XD
Tel. (0)
INDUSTRIAL
Cement XD 23.10 21.30 STORES, ETC.”“”“ Dalry
10.10 16.20 Walon Ko 19.30 L. Craw COTTONS Textile INVESTME Allied
2.073
3.93
14.70
200 23.20
300 235
7
Agreed Merchant
Rates
U.S.A. Dollars Maximum Sell- Ing, 17-5/10 Minimum Buying 17-0/16 T/T; 175% O/D; 17-11/16 30 days; 17% 60 days; 17-13/10 00 days.
Swiss Francs Maximum Seti-
Ing, 74-11/16.
Exchange Rates
Business was done in the focal unoffelal exchange market thie morning of the following rates:- 2010.10 .3. dollars (per $1)
6.79
Bierling moles (per £1) Australian notes (per En 12.01 Indonesian rupiah (per 100).. Slam Beate (për 100) Singapore Siraita)
16.03
B.77 20.70 1.82
COMMODITY PRICES
FOREIGN EXCHANGE
is duc
to Government credit this restrictions, high
Canada Interest rates and Increased wariness on the part of investors, colonies were able to borrow a mere £5 mil
Greek Merchant Fleet
and the sheared off sow spetion Tops 2m Mark
seng towed to a Brooklyn repair
yard. The Constitution is was
Intention
in the repair yard with a long THE `total tonnage of the however, that Cash In its ptri bow section.
Both
THE
intention It la Gevemment
evionics should continue to make use of the Greek merchant fleet London capital market wherever
Tels
1te explains ships were equipped has now toppad the two mil-persible. with rades. Investigators want tion mark for the first time:
pravilen, in the new legislation to and out why the ezdar scopes
ter repayment by equal onnual In the falied to prevent the colfiziuri-
The actual registered tonnage instalments. Although U.E.1.
is well!
two end. Exchequer loans will be somewhat below million tons but application cheaper than loans tred in the for registration at present going open market, the higher annual through the formal stages of cost of vervicing them will dis- acceptance make up the record couraged all but those who find Lokal..
the Landen markot virtually closed to them.
Dart Herald To
Make Asian Tour
London, Mar, 3. HANDLEY Pago Dart
The achievement of this total
NEW YORK. Closing rates were:
1,037% 81 2215/10 2.00-3/11 2.81-2/10
Uruguay
.0192 .1100
England Australia New Zealand Bouth Africa
Argenting
Others unchanged,
LONDON
Closing rates were:
New York Montreal Amsterdam Brusela
281-1/16-2.81-3/16 2337-2.73
10.01
140.45-140,00
14.54)=14.5432
axio Stockhoin Vienna Zurich
Others unchanged.-U.P.1.
72.64-73.87 12.1476-12.13
Blanket ereps No. 1 pae CTEES
LONDON
7015-01 ROSTH
The rubber market vas Armer willitanot quoted at 20+
13/10 pence per lb. Prices!
No. as pot
********** 25%-23T Settlement house tram:
Apri
April/June
July,Sept.
26-2890
SUGAR
20-201
World No. 4 sugar futures 20%-2014 closed today unchanged to Ave General markets, rit basis, ports: Mar, Aprit and May.... 253-2538 Extate crepe tnta Mar. 201
thick Mar...
points lower, with sales of +35 contracts.
Domestic No, a sugar futures
to elosed, unchangeri
three points lower with sales of 130 contracts,
-UP.I.
COTTON
NEW YORK
Prices of cotton futures closed
20.03 -29.04
today as follows:
Spct
Karch
RUBBER
NEW YORK
May
July
October
December
March
May
July
'NEW ORLEANS
real.
Contract No. 4 (world)
May
2.10
July
3,13
3.17
Get.
9.1
Jen.
1.22
Mor.
Spot-teents per iu tob Cuba?
Opin interest: 0,383 contracti.
309
34.73 nom.
33.60
'Contract No. (domestic)
5.42
Lay
July
3.50
32.
Supl.
5.00
A102
NOV.
Bpol-(cents per lb. cif NY"
3.40
31.81
31.12
Prices of cotton futures closed
Rex rubbar futures today today as follows:,
has been made possibic chicily Loans raised by public sub-closed 7 to 16 polais higher with
the
by the addition of new tanker tonnage belonging to Niarchos group.
A Herald civil transport War Reparation
plans will fly out to Asia in
'the spring on a sales tour, a
company spokesman said to Ships In Djakarta
day.
Djzkarta.
The £185,000 plane, which is EVEN out of the ten vessels designed to operate from ordered by the Indonesion mitive airfields under a wide range of climatic conditions, Government from Japan under will be shown' to airline officials the war reparations agreement in India, other parts of Aola and have arrived here.
to rome European operators,
The total cost of the ten ves- rels was £3,100,000,
The. Antara News Agency reported that the Indonesian congidoring Government era or five tons of cargo-Reu-buying gnathor 31 vessels from
Japan-Clunk Mail spdělal.
The Dart Herald has a cruis- ing speed of 200 miles per hour and can carry up to 47 pameng
fer,
Ig
March May July September November Jantiary March
scription in London have played sales of 34 contracts.
Impertant part in colonial development. Between 194ß end about 1657 they accounted for anith of E937 million of "non- private" money spent on de volopment. Nearly two-thirds etme for local sources, and the rest from CD & W grants and the World Bank.
peti
May
July
30.03
31.20
31.20
31.15
October December
alis
Maruts
31.15
May
July
AMSTERDAM The market was steady today. Prices closed in guilders per kilogram, elt Barch as follows:
No. 1 rubber No. rubber No. 3 rubber No. 1 creN
SINGAPORE
2.10 buyers 2.46 buyerE 2.44 buyers 2.01 buyers
The trouble in the past has bean that "private" "money the biggest source, of develop
alwosz mentanance has not Lone to countries will most The market opened higher in urgent neety. Today, highly sympathy with“ uverreas and Industrialised countries of rated steady until shortly be- Westem Europe are big not im; | fore" midday wheń welight of porters of private capital and March tendera depressed priced made la by far the biggest in No. 1 rubber per 1b, Mar, 0646-6911 the world.
Ho a rubber per 14 NF No Privato ·Investors under+
No. 4 standably prefer to put their spot rubber mabalış atakölk
LIVERPOOL
21.40
200.00
25.30
2.15
31,92
31.81
Colton future opened today
Open Interisti 3591' entrista. V.PI
METALS
NEW YORK
Prices of metal futures closel
today in cents per ib as follows:
Lead - Marchi
10.30b
May
10.350
Zins Mich
D.DSH
May
10.155
• Copper Maith
21.00 biu
May
3255-641
Tin
March
101.75b
* 107.256
LONDON
in pence per ib, as follows:
Old Contrast Mar/April *** Other unquoled
New Contract All unquoted
Closing prices were unaval!- able,
BAO PAULO
All prices unquoted today,.. In the United States, the average price of one-inch co! son of 14 designutod epot mar kola was 84.34:conte.
32301
·Prices of metals closed today
in sterling per long ton as fol- lows:
Tin spot
3-month Copper Cook
-month Lead set half. Mpe Parrotal sales at, those markpladine ja half March were 25,303 bale—UPI,
\
Buyers · Beliers
Att. Haine Prod. American Metal .... American Smelting Americnt Tel & Tel Amserlenn Tob. "D" Anaconda Copper Altro Steel Amour
AUas Cons, Mining Baltimore & Ohio Denguet Cons Bethlehem Steel Horden (he) Ca.
Add Machine C. Packing Corp. Cenadian Pacific R.. C. 1. T. Fetal Corp Chrysler Motora
Chuett Peabody Colgate-Palmolive Co. Commercial Credit Conwealth Ele
Ellison
Continental D of Del.
Crows Zellerblich Cuban Anter. Sugar
Diamant Alkull
Diamond Chrd
Estera Artine
Etnian Kodak
E PO National Gus
Ford Motor
Generel Dynamica
U.S. Smelling
US Steel P.C. PF
Warner Brot,
Wetkesha Matern
Weallaghouse Ale Brake
West.nghouse Electric
West Va. Pulp & Paper
Wan-Dixie Stores
Woodworth W.
Zarah Hadią
Singapore
Stocks
Singapore, Mar. 4.
Brokers today quoted the fol- lowing stock prices;
321% Fraser & Neave Lid. Ord 11.02
(Malaya) Ad $1,70
Operang
2015
Estu Lintang Rubber Cu.
34 x
3.10.
$24.40
361%
British Borneo Petroleum
Syndicate........**
40/36
5212
20
Ceriolidated Tin Snellers
Ord.
30/-
3B41
42
Fraser & Neave Ltd, 715
cum. mes
$4.15
33012
3014
Hongkong & Shanghai
30
Banking Corp.
$415 exdiy
#27
ROP
Hongkong Tin Ltd.
$10
General Food..
Kumpas Ltd. .......................
$1.85
Keep in
32/04
General Motors
4014
Gen. Tyre & Itubber
0734
nas Hubber Estates Ltd.
$1.25
Malayan roweries
13.05
25%
Goodyear Tyre
1294
New Serendah Rubber Co.
Ltd.
$2.87
Grumman Aircraft
212
Petaling Tin Ltd.
Galf Ol
110%
Hantes
Hammond Organ
44%
Kotel...
Bingapore Cold Storage..
$0,80
Heyden Newpori Carp.
103
Straits Trading
Intand Stre
United Engineers Ord.
isterchemilent Corp.
114 Wearne Bro.
$1.23
Incl Business Machines
China Mall Special.
General Electric
Gelly Oil
BOAL
JET-PROP
TRANS-PACIFIC SERVICES
to U.S.A.
Commencing 3rd April" BOOK NOW!
*Subject to Government Approval
BRITISH OVERSEAS - AIRWAYS CORPORATION