RANSPORTATION
t's The X-Ray Routine
•
For Modern
Aircraft These Days.
THE CHINA »MAIL. TUESDAY, MARCH 31, 1959.
STOCK EXCHANGE
Dame Rumour HONGKONG
Curse Of Wall Street
New York, March 30.
Our Own Correspondant
fo
Pare
Wall Street Loses Ground Steadily
New York, March 30.
The stock market's showing today was as dismal as the
weather in Wall Street.
Business done on the Hongkong Stock Exchange this morning The market lost ground amounted
epproximately steadily all day In Increased Nocn- quotatiors and trading, closing around the the morning's tramnctions were: day's worst levels,
Bayer Bern Kales
A little lady who has tormented man $705,000.
down through the ages is working overtime in Wall Street those days.
'She's "Dams. Rumour," who
a gulled men of their savings by fealing them into investing In cilleas well, goldless minca and prefilless slocks,
Her "Inside
information,"
whispered in strictest confidence,
No longer is it necessary for the subject to strip when an aircraft undergoes a check-up nor- come the worst-is it necessary to resort to the old-fashioned "sawbones" techniques to discovering along ocean baltors and what's giving trouble beneath that rib,
For nowadays, with the means
at hand, "when in doubt X-ray**
has berome routine philosophy Shipyards Offering To
Radiographie (X-ray) Inspec- tion of fatigue test specimens has now rude possible prehensive routine spection schedule a new aircraft The COME shipyards are fast example of this concerned
Build Ships At Cost
נן
of such in- the anaintenance
the Britannia. Future possibili tles of this type of maintenance and pro- Ingelion are bright mige spectacular savings in time and trouble. DIFFICULT
now offering to build ships at cost price, or even below, decording to trado sources.
For example, over the two years the Japanese
for
hes sent stock markets avaring diving; triggered mass und migrations and sent men crawl-
scouring the landn for wealth that existed only in somebody's imagination.
Whispering
on
New York Cotton Market
New York, March 30..
Rintes BANKS HK Hank INSURANCES
Union
BIK Hotel,
Post-Easter holiday trading HIC Land.
in colton today developed
籍
מ
CO
firmer undertone Inphreys 1450 14.70
Losses in the Hit ren two points in a number of pivotala. All major participated in
30 with some of the widest declinea
appearing in the tyres.
6.40
Easter Airline
General Lectric....
4316 Parke Davis Co. Penny. J. C. Co Philip MOTTIN
157)
331
Procter & Gamikle Co, Pittsburgh Plate Glaz Publicker Industries Pure Ol........ Radio Corporation Both Radio Corp. Pret,
Republia ton)
Beynolds Motel...
Sears, Roebuck & Co.
Bateway Stores
Eastman Kodak
El Paso National Gas Family Finance Corp. Firestone Tyre & Rüboer
past
Tine Nat. City Bank Ford Motor ......
4312
General Dynamics
groups
General Foods
790
the downturn
General Motors
|
Gen. Pub. ULU.
BZ1
Gen. Tyre & Blubber.
Shell Ol Co.
Gildden Co..ZAR
401
Goodrich (B1, F.; Co.
83, Saint for. Paper
Goodyear Tyre. ....
124)
Grumman Aircraft Gulf Oil
1156
Smith. Cline & French
Socony Mobil Oil
10
Solar Aircraft
4
Bouth Puerto Rico Auge
44122
Southern Co. (The)
Ingerso||~itand
001%
Insand Steel Co.
134
Interentiplen! Chirp....
ENE
B10
4413
110
Ignored
The ralla had losses running past a point in 1fnols Central
1000 / 3711⁄2 | Baltimore & Ohio, Kansas Cit
Southern, and Chesapeake Ohio. Chemicnts were weak as
795 COBAL
74 100 N
Lombard
SIRPPING
Waterboal
200 300 R Wheelock 9.00 5.83 184ÓN DE 7000 er
4.00
DOCKS, ETC.
K. Whare.
XD
Dock, XD
13
Provident,
(D) 11.20 11.40
500 # 11-40
500 4 11.30
Stial Dock 0.80
4000 7 2.
LAND, ETC.
XD 23.30 M
TEO
23.00
1000 23.300
K
70 2 101 500
02.73
Really 1.675 1.50
Yoursati..
C. Light
Electric
Star Ferry
(a) .....
93%
$7.40
27.10
Anbig, XD 2.325
UTILITIES Tram 26.70 7.10 600 20,87 100 20.00 100
200 00
100
20 600.cr
4,000
28
.
DBS
500 21.30 Macao E. Telephone
25.40 23% 3000 a 23.30
3500 25.40
INDUSTRIALS Cement STORES, Dairy
40 2740
15.70 10.00
600
13.00
500
15.15
2500
15.50
500 13.70
500 &
$13.00
Wall Street through the years
become
spasmodically brisk deal-RUDDER Immense
ingy at the opening and Trus XD 2.15 close.
Whispering gallery, a vast market
of seven
Finishing just under the day's best levels the list showed net Kains
17 points. Opening prices were up two to six points. New Orlenus closed up 10 to 10 points.
place rescunding with the echoes of rumours that lend the over-credulous investor rocks of financial chaos.
10 the On just one trading day last week the market was riddled by
of Hiness post rumours
in high attempted price government eireles,
assassinations, phony mergers
MAJORITY end phantom and stock splits selenilife br akthroughs
Additional data by
showing companies engaged In 1he vast majority of farmers wilt missile-rocket business.
their not over-plan Wall Street has seen some allotments this year joined with plps in its day. In the 1930's a more encouraging textile market cigarette company was faced news in keeping the price in- with a serious decline in sules dicator painted upwaard. because of an insidious rumour that a leper had been found
"
a 40,000 deadweight tons In modern aircraft where such tanker has fallen from $240 to
$149 per ton-equivalent to as wings, tall-planes, finstall in the cost of the ship Res elevators and control-tabs are;
£1,050,000. beetming increasingly difficult--
Credit terns for new ships because their if not possible structure is of a "blind nature can now be arranged in almost
- sp by other means. any country, except Norway. radingraphie techniques are the
nor. Berau o this method POSSIBILITY
Generally 50 per cent creditwerking in one of its factories. over five years can be arranged
In Europe, but in France, Ger- nany and Holland, possibilities
Manipulators
+
A brezd company's business fell of sharply after a rumour got sinrted that a housewife had mouse in 2 loaf of
obviates the need to strip down —lo "blind" structures this is impossible anyway—and examine art visually, it offers a tre- mendous saving in time and ex-exist for up to 78 per cent over pense in determining structurn)
| seven years. condition.
Even 12 years credit was re- Also the integrity of "blind" riveting longer need be conlly offered. Rule of interest found n
no taken for granted and cracked or today is about 5-51⁄44 per cent in Japan and between 5-7 per cent bent rivets and any unwanted bits left inside
In Europe. a tab or an
of second-hand The prices the seen by con
tonnage ulso have falien For example, a X-ray considerably. diesel
of ship
10,800 13,200 deadweight tons, built
1058, was sold last April for £1 mil-
elevator marie
The
cye,
first recorded
air- inspection of a completed craft structure was conducted of
bread.
Rumeurs are the bane of the
com- securities and exchango mission and the major stock ex- changes; which continually Y to protect the innocent investors from the clever manipulator.
As one Wall Street wag put it The
toughest job is protecting
Woolwich Arsenal where gived Hon-about 20 per cent below / the gullible investor from him-
of
arreage
and
New Orleans brokera commission house interests were moderate, but persistent buyers, absorbing a recuerd volume of scale-up hodge selling.
Two of the leading spot!
recently firms,
prominent buyers of October and Decem- were not too conspicuous on the upswing today, traders sald
ber
оть
The government report Bual "B" plan slyng-up showed the increase in
the national acreage allotment to 7,327,030, up 1,017,030 from the original amount. The report showed little change from the sign-ups announced on March 20.
INDICATED
a groitp.
lammond Organ
ileyden Newport Corp. Homtatake Mining Co
Idaho Power ..........
int Business Machines
The market generally ignored Int'l Harvester
such
ment
favourable
Steels were weak as a group. National lost two points at ils low and Lukens was off more than a point after ruling rm carlier in the session. US Steel and Bethlehem down fructionally. 25
31
12p4
Scott Paper
Binefair bil....
Southern National Gai
Southern Railway (Com.)
Standard Brands .... Standard Oil of Col. Standart C of Ind. Standard Oli of NJ.
Steep Bock Toronto Exge.) aleriing Drug Co... Stockely-Van Camp. Studebaker-Packard Corp, Bucabine Mininařů. Swift & Co. Texas Co.
Taxiron Inc.
2012 Thickol Chem, ......
Tide Water Assn. Oi
1 Time Inc. *********
50P
(Am.
47
42
1911
develop-Intemational Nickel
International Paper In the business pic Int1 Tel & Tel ture as a pur in auto sales; John-Manville Co. record steel production; booming Rennredit Copper
Kaiser Industry retail sales; and the prospects Runberly Clark for sharply higher tiret quarter 14grett Meyer Tob. Co.
Lockheed Aircraft 10000 $7 2.35 eurnligs.
Low Incora, Lone Star Cement Co. Lowenstein & Sons, McDermott J. Ray McDonnel Airerafi
Stock Exra.) Mozabi Iron Corp. Minnesota Minin Misiun Development Monsanto Chemical Co. Montgomery Ward National Blett Co. Motorola Inc. National Cash Reg. “A” development of National Dairy Prod. attack Aghter, but Boeing National Steel Corp
National Load Just more than a point. Non- New York Central ferrous metals were irregular. Nartolk & Western Ry.
North Amer. Avistion North-wat Airlines (Com.) Otia atryb
10 1590 32.50
2 = 2
Watson : 13.80 Lane, Craw. $3.40 15.00 COTTONS
Textiles 4.20 INVESTMENTS
I.K. & F.E
Invert... 10.10
British Aid
IA
London, March 30. Britain has provided grants to other countries and loans
of the war in since the end
of 1945 to the value £1,970 Derick Heathcoat million, Mr Amory, Chancellor of the Ex- chequer, mentary reply recently. China parila-
Mall Special.
said In д
Exchange Rates
wood joints were radiographed
self." its building cost. during World
War
A similar I. On this
Edword T. McCormick,, Pre- ocession the work was taken to
ship was sold in October at
The National Bank of Com- American sident of the
Stock £825,000, which
merce, Memphis estimated the the X-ray equipment, and it
mcans a Exchange, noted that rumeUTS
planted acreage for 1950 at was not until 1930 when certain further drop of 171⁄2 per cent.
the "with
speed Prices for
spread war-built Liberty sound in a paris of the airship R.101 were
rising market and approximately 10,074,715 acres
an indicated crop of Buskien was done in the local radiographed In position that ships have also fallen.
warned investors to investigate and
bales vs 13,311,000
exchange market this 11,425,444 unameis the procedure was reversed.
before buying a bales ginned from the 1058 crop. all the facts
maring at the fallowing rates:- US. doliar (per 1 Suggestions Brat madc
stock.
The Liverpool, market re- Sterling notes iper 1) However, "man is 1930 that X-rays might be used After dropping from £220,000
Australian notes (per, £) closed today for the in the maintenance inspection 10 about £130,000 in the first believing-bellever."
sald David mained
Indonesian rupiah (per 100 Sinm Reals (per 100) of aircraft gained file support ht of 1950, the political ten-J. Jacobsen, President of United Easter holidays, Memph's report
Singapore (Biraits) and were shelved until after the sign in the Middle East led to a Public Relations and author of said inquiries were not as great
short-lived recovery
to the book, "The Affairs of Dame as in the previous weeks. Some
Rumour."
cofion moved. principally, for shipment April through Juric. U.P.I.
war.
L
I
im
SHORT-LIVED
One of the Brst companies to £160,000, odopt X-ray
up
techniques Was Since August, however, prices Vickers-Armstrongs who have have declined again and by the
new used them in the inbon-end lory for some 14 years although
It is only during the last 2 years that these methods have been in daily use.
SAVING
ал 1211-
Oil Bubble
Small Car Sales In U.S.
New York, March 30.
pre-
of the year scarcely £110,000-or about three times "Even after having been Its scrap value could be ob- burned once," Jacobson noted, ined for a Liberty vessel. "many investors are soon amit-
the Shipbreakers last year had no ten again with get-rich- dimculties in obtaining scrap quick bug and waste little me Some idea of the time saving from the huge tald-up feet. Re- dumping their hard-earned i offered by using X-ray techni-duced demand from the steel savings into
worthless stocks, ques can be gained from
the industry, however, did not en-mines and well." fact that only 14 Hours are re-
He said when the great bubble Sales of Imported small cars courage the European breaking quired for Inspection of one izde.
of a new ol deld in Colorado are expected to climb by more area of a Viscount, whereas
Prices for scrap
ended the was deflated in 1046 by a series than 25 per cent this year, a visual examination would take
auto Importer 500 hours.
year at about £5 to £8 per ton, of dry holes, investors were leading X-ray techniques now compared with 28-9 in Janu-quick to listen to rumours that dicted today.
ore
Sales In 1950 should total Eastern scrap the drillers had passed through ary, 1958. Far
a rich vein of goid.
approximately 480,000 16 prices, on the other hand, rose
the "Despite all
warnings against 377,000 Jast year, the year from lightly during
about false Ups and rumours, the according. to about 49:
Erik J. Hansen,
Distributors, importers active and have also easy profts. He has he care of the new six-passenger taken many vessels with several
Tūwide-open-for sumours and lils Tapangpa MORE The success of X-ray inspec onthe late delivery. These eyes closed to available in- UPI. den has already led to pro-buyers, however, aro hampered formation, Jacobson sald bosals to delete in new designs by currency restrictions.
being employed on Comet and Vanguard production lines, to name just two, and, following urrent tanks-instintored In the production of this air "craft also
certain Recess panels used
during service overhaul checks
Japanese breakers have been leu to
£10 per title guy too often comes into General Manager of Toyota
gulle
because they will no longer be New Fleet Of Jets?
heeded. Spectacular savings In
Wme and effort have already
been achieved in enses where à
London, March 30.
London newspaper report
defect is found in one aircraft that a fleet of new fet air- und all others of the same typeners might replace the Come! have to be Inspected for it.
IV on Africa and castern
The use of the X-ray eye la routes in 1985 was described by Euch cases may clear in an a Bone spokesman hour or two an aircraft which
U.P.I.
Chicago Grain Market
Chiengo, March 30.
New crop wheat,
here today soybeans Ho, said Boac were conalder-
Fight have been out of service: as "purely speculative."
for as much as a week if con- ventional methods of Inspection Lháð1 been; used.
Executive Jets''
ing the 100-seater tall-engined De Havilland 121, among all new designs, but consideration did not mean they would bo ordered-Reuter:
Dragons For Swedes
cora, and
closed the day strong, but others irregular on the Board of Trade, Wheat No. 2 red
Spot
Yesterday's Closing
CITY LIGHTS.
were
Olis were mixed. Grumman Armed in the alterafts on news had received a huge Navy contract for
дл
Chemicals
Our Elevators... Owen-nots Glass Oxford Paper Ca Pacific Cina & Bice. Pao American AltwAYK Paramount Plektres
Chemicals were lower. Ameri- can Agricultural strong last week, on a split rumour, lost more than four on profit-taking, Inickol and Du Pont were off more than a point cach near the close.
Today's volume was 2,940,000 14 SE
shares.
Of a total 1:250 shares traded 305 were higher and 60% lower, American Exchango volume was 2,010,000 shares.
Bonds volumne was $5,914,000. Dow-Jones closing * averages
were:
30 industriale
*
*
303.65
20
rails...
180.10
Is tiltek
13.40
5J stocks
207.01
40 bonds
85.17
Conumodity future price
Index
140.39
+
Alden Inc: cy?”
Allied Chemlesis
Allied Mills Inc..
Closing, Prices
Allis Chalmers 1.
Am. Zmke Shoe
American Aitiing
American Cable & Radio Corp.
American Cyanamid Co.
Amer. Forgn. Power
6.74
15.99
Am. Ca & Blectric
22.12
Am. Home, Prod
0.0
25.07
1.02
Dear Miss Smith-your regretted
absence has
· necessitated- a certain reorganization....”
London Express Burgiet,"
Am-Machi- à - F'dry,
American Metal American smeling Am. Sugar Ret. American Tel & Tel American Tob. "B" Anaconda Copper Armco Steel.... Armour Atlas Cans Mining Baldwin-Lima-Ham. Baltimore de Ohio Dericial Finance
Bendix FORD. Benguet
Bethlehem Steal Boeing Allane
Barden (The) Co.
Burroughs Add Machine Calir. Packing Corp. Campbell Soup Co. Canadian Pacific R Casa (J. 1.) Co. Cat. Tractor
Celanese Corp. CUT. Financial Corp. Chrysler Motors Cluett Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Fler, Consolidated Edison Continental. Oil of Del. 'Crown-Zeilerðæelim
Cuban Amer, Sugar Diamond Gard
„Douglas Aircraft „Dow_Chamīnaža
Dupont de Nemours Comissa
COMMODITY PRICES
COTTON
NEW YORK
METALS
NEW YORK
Prices of metal futures closed
today in cents per lb. as follows:
10.30 10,436
10.00b
10.16b 33.70-77b
104
Tri-Cont. Warrants
Twentieth Century Fox Film
Union Carbide
Union Oil of Cal
Union Pacife Railway
United Aircraft
441 United Fruit
44
United Gox Corp.
70% U.3. Foll "D" 531 UB. Gypsum
U.S. Line Co.
45.9. Rubber 111.S. Bmelting
783, BSteel
09 47
U.B. Steel 7 P.C. Pr Warner Bros. Waukesha Motor
41% | Westinghouse Air Brake
Westinghouse. Electric.
451
71
8
3310
663
Western Union Tal. Co. West Va. Pulp & Paper Winn Dixie Stores
Woolworth (K. W.)
2013 | Zenith Radio
P.OB•IE.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
OUTWARDS
"CANTON"
"BALMARA”. “SINGAPORE"
“CORFU?“
"CHUSAN” "COROMANDEL” "CARTHAGE"
"SUBAT"
BONEWARDA
**BUNDA"
"CANTON" "HIMALAYA" "CORFU *"BINGAPORE”
E
"CARTHAGE" "CANTON"
Selled
Billed Sailed 15/3 .
LEAVEN UE.
DUE B.K.
in Apr.
20th Apr.
3rd Apr. 11th Ap
20th Apr.. 4th May 11th Mar
201 Apr.
Erd June
29th Apr.
1st June
13th May
LEAVES H.K.
4 pan. 12th Apr. Noor 10th Apr.
11 pm, 30th Apr. Noon 8th May ym. 18th May Noon 8th Isine Noon
22nd June
DUE LONDON
Slut -May 17th May
28th May
atis June 24th June 7th July 8th July 8th Aug
'Via B'pate, Panang, Colomba, Bombay, Aden à Pt. Bala. "BUNDA and “HINGAPONR" omit Colombo and Bombay and shtepi ta kamburg, Rotterdam & Antwerp. "SUNDA" also loads for Hall direct.
BRITISH INDIA S.N. CO., LTD,
dus 4th Apr, from Japan saile din Apr.- for Singapore, Penang,
"GARRETA"
"BANGOLA”. Öse sin Apt.' from Calcutta, Rangoon
Btralia ARIZA, 5th Apr. for Japan
"ORMARA"
Spot-cents per lhe fob Cuba) · 3.02 Cps Interest: 6,503 contracts. Contract No. 0 (domestic)
"OLINDA"
Mav
3,30
July
Best.
1.65
Nov.
Bpat-icants per of NY"
xx-duty Open
5.00
11.30 Interest: -4,123 contracte.200
"UMARIA"
FOREIGN
EXCHANGE.
& 0./1, 1, JOINT SERVICE
do 2nd Apr.
sails 4533 Ape
from Japan
for Singapora, Penang. Madras Mangalore. Bombay, Harachi, #Kaas wait, Basrah de Khor.
Á 14th Apr.: from Japan & Singapore. sulla 15th Apr. for Bingapore, Penang
Madras, Cooliba, Bam- bay, Dhaunaker Karachi
dae - 11th Apr. frum, Karachi, Bombay,
1. Cochin. Tutigeria
Singapore
Rails 1501 APK,
for Japan
“URLANIA” due kind Apr. from Japan
sails 3rd Apr. for Bingapore, Dubal, Kuwait, ""Bensis, Ichorý
2001-2001
May 2101
July
Sept. Dec
2082) TE
1934
Prices
of cotton closed today na follows:
futures
Lead
Corn, No. 2, yellow
May
Spol
• Spot
124-12334
May
For U.S. Firms
May
July
35.38 nom. 35.40 15.05.20
Muly
Zine MAY
July
July
Oct.
32.73
Copper stay
A
to U.S. business executives "Powered by a Rolls-Royce the year after next.
senter, actoplanes.
Scores of American corporum.p.h. A now version is being Lions have their own airliners developed to dy for the use of their executives. twice the speed of sound and to . Hundreds of businessmen bave elimb to 50,000ft. In one minute,
their own private four or five-
THE Swedish Air Force is
·SMALL 10-seater jet
shortly to get its first Delta-
Drakens winged
(Dragons), airliner with fighter- among the
advanced gata mast --fiko`spoods will be available fighters in the world, *
July Avon engine, the Swedish-built Baybosna, No. 2. yellow Draken fles at about 1,000 Sput
Sept.
Дос
July
Dec.
Mar
32.45
Tin
May
Rye
May
July
3167b 101.240) 100.500
$1.45
UPL
M07 July
May
NEW ORLEANS Prices of, · cotton closed today as follows:
futuros
Spot
SUCAR
36.03
May
July
Oct.
moro than
Sept
Dec.
Nov.
Mar
Jan.
Barley,
Spot
is, to be put on the American
top speed of 885 m.p.h.
Business lying market-with ́aju.
RAMISH
London.
Railways
have
Income
In 1961 the Lockhand Jetstar Big Rail Order
British jet engine design bas Dardized 225 more diesel helped to make... this possible, tocomotives in a £16 million
New-York, March 80.
SAO PAULO Closing futures prices, all cruzeiros per.... kilo, were follow
for the Jetstar is fitted with two contract with three British Gems. Net Income of Gulf Oil ·fts‹ the Bristol Orpheus jela Tho poco It is the largest single order year ended December 31, umbuni, average plane Ales at heights up to placed since : British Ballways ed to $339,633,000. br. 1912 a ton at 62.000 It is also being pro announced les modernisation | share, cognosed with 1541145) 160a 190 many millitary pure giant. 1930,China 000, or $10.99 PORVIGUE+
Tot Annely-China, Mail Special RSA CUP
NEW YORK
World No. 4 sugar futures elosed today one point lower to in three points higher with sales us of 43 contracts.
the
Domestic, No. 6 sugnt closed one Tower to three points higher with salon' of 96 contracts, we
No. 4 (world);
克
RUBBER
SEE
NEW YORK
Rex rubber futures closed today 40 to 49 points higher with males of 87 contractat
Closing prices:
fur full portendat, enyeply WATKINNON
NEW YORK Closing ratom, were: Crede England
Others were linekar
EASTERN & AUSTRALIAN 5.S. CO., LTD,
“AKAFURA” · En Fort
"RASTERN
from Australia si 1st Apr.::Toe Zapen 1onde 4th Apr.AYNIR
salia - 395 Apr. for Labuan, Sandakan,
All wemale kave: Lhuity, to... OLI SE SKY YOrnaɛan be off the route d the xpada' dantrines Krawuhject
32,41
31.14