THE CHINA MAIL, MONDAY, APRIL 27, 1959.
Pago
SCIENCE AND REPORTS OF RECORD U.S. EARNINGS Many Corporations Expect London Stock WALL STREET BULLS
MENGINEERING
UK
TESTING LAB FOR WATER TURBINES
AND PUMPS ·
Stockholm.
A turbine rosearch and model-testing laboratory which is claimed to be one of the bost-equipped in the world, has just been taken into use by Karlstads Mekaniska. Werkstad (KMW) at their Kristinehamn works, Central Sweden.
Best Year In History
New York, April 28.
The record earnings reports for the first quarter now being issued by steel companies and other lines of business indicate that many American corporations are well on their way toward the most profitable year in history. Furthermore, the relative, of steel by July 1 will total | nowe menty in modernising their
sured by the Government, which i would be about 1,000,000 tons in any previous year--including insured its latest figures on higher than at the start of the | 1957, the record year for total | Wednesday, has also set an all- flist strike in the steel industry, capital spending,
Lime record The Index has Ju 1030. firetuated only 0.2 per cent in The past nine months, the
stability of living costs as mea-3,600,000 to 3.300,000 tons. This production foetitles in 1050 than
Must companies, the survey
In the machine tool Industry, ! found, envisage a continuation of a good bellwether ef shifting this year's level of capitel longest period of stability since
but business movements, new orders spending into next year, the Index was established in
ar elimbing at a much faster thereafter, a 'decrease to about 1013.
rate than was indicated for the | $53,000,000,080 in 1901 and 1902. Economists
impressed first quarter, are
This is despite "Despite the substantial with the powerful upsurge of the fact, that a large volume of auntaunt of unused empacity re- industrial production, the con- Inported
tools machine
are ported for the end of 1959, Laing sold here at lower prices. ; manufacturing frms plon CON- comes, anch Indication that
Unue expanding at a rate of Freight cars business purebases for 7 million h.p.
inven-
about four per cent a yeur," the teries are extentiing beyond the Ralph J. Kraut, President of riport said, This would inake Beel Industry
the National Machino Tool inufacturing equacity by the Buliders Association, said last end of 1902 more than 80 per week that orders in the in-cent greater than it was in dustry during the first quare : 1950."
been bines with an aggregate outputtinued Increase in consumer-in-
The laboratory has designed for all kinds of medal, of a me 13 million hp..
lurbl tests with hydrazlic
An additiona! pumu turbines and pumps, and et turbines has been huût under
it inclides equipeat for once alroad, About 50 per precisi INVERSAAL+Anta by Jem of the Swedish-made units incans of eli plavoz devices to MASUR ult obji clivity reliability of the tests
and
have been exported. FIRST IN 1906
Corporate profits now germ alpost certain to easily outstrip 1956% previous peak of $45.0 The company's first install- billion efore xes. Indeed, Kada Mebraska Werk-
tion for testing water turbines the recovery from the reccssion sta manter of the Jehman
completed in 1900 WAN
long but rathed in thoa etor Group industrips and, 13ft =
laturat.ry further
1.1.5 that profits in the fourth quar- sides mating turbikes visa large
KMW have later be achied.
ter of 1958 were nirendy at on macalacturers of machinery terve coined "extensive jammunt rate of $44 VIBiễn wịth the pulp and paper industy and
Chartier ghing already recorded research and dveljanent work of KaMeWa controllable patch particularly in the nois of In the rst three months of this marine pepellers--have since Kaplan turbines and built, a
Unotheral cor.
government the Leyraning of this century far book is in 1922, EL sun estimates place the first quarter built elu on 2.800 water tur- | rec.rd-breaking Kaplam wait profits at the annual rate of $49.
wits rumer dameter ul 32
lion.
Monstrous Mistakes Of Motorways
London.
need to
THE monstrous
inetron.
Since then developments h ve fas), stick The trend v: vis even larger furbaine Pozite bas ente; for in re exact mensuring and testing techni- que, lasts the capitalised value very small eflciency Liven guins is appreciable, avoid
Myer,
general mistakos“ į techniko
of level
existing Jeigus is already very high. of the past was stressed in a statoment on national and 90 KMW-anxicais to maintain of the their position as one urban motorways issued by world's leading turbine makers the Royal Institute of British hove und that the only way Architects at a PTORS con-making further progress is wstaat research and develop- ference in London.
mout work, HOLD ITS OWN
believe that "Because known water power will hold its own into for many years to come and is when even to do so atcusic power has became more
"The arian motorways have to have the apelly to carry enormous frame loads, abou! there tne anything 10
today, this country und through r ancient and likely
complex urban areas,
WC
Thus the location of urban i generally utilhed," says Air Bo motorway,
1701 merely G. Rathsinan, managing director
their design, i inseparabient ICMW una a former Swedish
from the
three- State
dimensional plaming and ciyl¦director general.
design as a whole and must be
problems of
Puter Board deputy
and
Cutting By
stuched by those best qualified
In such matters."
* Insensitively
clumsily
steel
designed, such rouds
will destres the appearance Electronics
in town completely, stabbing
ke a sword into its very heart
as so many of the American motorways have already done. JOINT COMMITTEES
"Certain local authorities are at the moment setting up joint
10 .com iftees
DEVE
EVELOPMENT of a new automatic machine for undercutting electric motor armaturer has resulted in a Commitler the 30 per cent increase in out
urban put at onc factory of a future development of motorways and feeder roads, British firm. The RIBA 8 deply concerned these commiters that none of
and Detter
more consistent Equality is another advantage has, zo far, decide to elude the nature undercutting pro- otchilvets.
[cos- necesary to obtain smarth commutation-means
RIBA, commented: "Mi With the conventional manual- the Hons of pouruts will be spent only controlled method each
As the new motorsage oid if there meat of the commulator was.
►
Is any mistake or destrucțiuli Visually Indcard to the
cutter.
Retained
!
At
Market Activity Reduced
London, April 26.
Activity in stock market last work was on a slightly ro- duced scalo but the under- tong romained firm. The market in oil shares was the exception and WOS busior than it had been for some months.
REGAIN CONTROL IN LAST SESSION
New York, April 26. The stock market suffered a touch of spring fever on Wednesday and Thursday but the bulls rogained control of the situation on Friday.
American Molors,
The market ended the work the group used to compile the on a note of strength as good averages. cornlags reports. favourable American Motors ll the dividend unaouncements und merket in turnover, followed by Much of the week's business some favorable cconcinie fore- Studebaker wuelcard, was done by smoll Investors casts restored steam to the Standard, General although the Institullons re-spring rally.
American Telephone (New) and turned to the market but on a The daytrhl average hasFurd. Only A. T. & T, declined. smaller scale with their pur-lsen le nine out of the part 11 Ford closed the week at chases
mure selective inun sessions,
during which the $61,88. That price marked the 11.
į whole market has added more Arst time the stock closed any The gilt-edged market con- than $9 oillion to stock values. week above its original 1050 Linued to be quiet with just The gain in stock values this offering price of $64.50.—V. P. I. enough small investment buy-past week won only nominal ing in met the selling and to because of a sharp setback сп keep prices firm. Outstanding Wednesday and a fairly sterg In the foreign bond arket decline on Thursday. A gond was the sharp turn around rally on Friday left the Hat In Greek bons whi recorded good shape.
fer of this year are expected Nearly half of all the corn- to total $100,000,000 but the panics responding indierted thes whole year $300,000,000. would spend more un new plaut the
time, he termed and equipment If the depresia s been KAMP "shocking" the industry's on allowanes permitted by position in relation to foreign tax law were increased substan- output. noling that Wently over the next few years Germany and Britain in 1957 Other companies sold they would produred a combined value of use any increase in depreciation machine tuota ut $1,000,000,000 to reduce their outstanding debl
while U.S. output totalled $850,000,000, Kraut also saldo vable them to rely less 01
Gutside funds. current annual imports retail value letal approxim- ately $45,000,000 to $50,000,- 000.
Tight money
леш
and
זנו
further
Electronics good
HONGKONG STOCK EXCHANGE
guins up to 019 points, degilte. being slightly
the top, Continental support on
what The electronics Issues were technically week
good most of the week, even market, a considerable number when profit taking in mid- of large
itions having
weck was taking its toll on matured, qulekly absorbed the
the blive chips which had Rosting supply of Greek stock paced the recent splurge,
with
Brokers said the realising of orders being pressed prices profits was to be expected after bounded upwords.
the market's rise to historie EQUITIES MIXED highs. They had looked for o Price movements in industrial period of consolidation during
Bulness done on the Hong- equities were mixed but the which the market would move i
in a narrow range while continued firm undertone ear.
in kung Stock Exchange this morn vesturs assessed the gains te-jing naunted to approximately ried the Financid Times indexeunted during the advance. $835,000.
Nour quotations and
buying
0.1 up the week in 220.
new all-time hith record Much of the market was In- fluenced by the entiquess flow
good or
of
A vanstulerable proportion! of these prolis are being re-
The current tight money Lained and these, with de- Orders for new freight cura markel position could be sub-
allowances, have fush preciation
the rulroads soared to
the stantially eased should Donount now built up to an annual 10,705 in March from the pre-
of corporate new rate that is more than match- vious month's 1,806. In the sam money required from either
bank loans or
capital Tag corporate outlays for both month lust year they were only capital purboses and inventory 193. As of April 1, the backlog Jesurs decline materially, an funds are going into shori- of orders for freight cars on now seems entirely possible.
Funds generated tern U.S. Treasury securiles, hand, but not delivered, totalled
internally.ews plus Sted production, continuing | 35,478 unlis
FURDUTS compared with by corporations through retained tu set weekly records, topped 38,027 on the same date In 1957. earnings and depreciation re- At leasi Two independent serves are now running ahead of analyses now put empital ex-requirements for new money in peaditures this year at seven per tinaner both new capital oudays cent greater than in 1958, or and inverteries. This trend, it continued, could mean radically 1ss corporation borrowings both from banks and through the er galtral market.-U.P.I.
Bo
CITY LIGHTS
Tak, tak, to think I've been cleaning your outer ofice windows and hear- ing your secretary tell str callers you're
of town?"
out
Luston Kapreia Servim.
|intay $34,000,000,000,
A McGraw-1611 survey, for instance, found that manufactor- ing companies plan to spend
U.S. COTTON GOODS REVIEW
Fails
Hongkong
To Deliver On Due Date
New York, April 26.
The Jewish religious holidays, and scarcity of goods ready for quick and nearby delivery, retarded activity in cotton textiles again last week.
the
Sestonal conditions also ac-, possible future imparts from stunted to a minor degree for Dilent.
In bag sheetings. the talk of The second quarter tradition- Adan imports brought out some
The quietness.
[1
st
und fast these days,
Cottons
by
Our Own Corresponduna
107
Buyer Selle
025 02212
Bales
30 40 5215
20 ut 8273
10 4 THE
201
163 14 200
73 74
200 23
or ordinary industrin shares However, brokers said such a the morning's transactions:
of consol&intiem WES
Bhares period needed in set the stage for con- BANKS
the spring | Unuaisee of
rally. TX Bank The fact the market caine back bad company
with good anunerments and Son Friday
take-over bids, going and mereased volume was
East Asia which seem to be coming thick farbie factor,
INSURANCES issues, American Telephone
Unica. įwhich had soured the previous | Tambarc 20 were helped by ex- week after lockhøklers
ap- SHIPPING
Waterlal 22.70 pectations of the Government
Wheelock announcemend an help for the proved a three-for-one split c
The stock, mel seme of the DOCKS, ETC. Lancashire
stiff resistance. The old stick K. Wharf.. shares were helped lost more than eight points neviens
Dati Insurance by the announewi
the week while the new
mlit ratkes Commercial Union and behares were down three pulits. Bitish and Morenih, Star were a good market on num- ber of excellent compary 12+ poris. Motors were well support-
Coff
jarlustus,
merker
از
201
5.73
394
JU
290 29
11:30
13
100 m 119,
333%
300 / 21
The electronles continued to LAND. ETC. emmaze the market. This
than any other, R Lund.. (dustry, more
Really
UK Hotel 241⁄2 2160
[00 24,00
-
200 245
RUBBER
Amalk
Trust
UTILITIES
.....
324 147 14.70 1.STIE 1.BC
2.43 ... 2.427 3.4711⁄2 10000 6000 5000 5000 22
300
14.00
2.45
1
ed except Jaguar whose ordin-has mirrored the dramatic post-Humphreys
war boom: Insthe economy. my chures fell from
Top Wall Street analysts say this group has barely tapped its potential.
height when the fact really sun in that no change in eontrol uf the company was contemplate:
There were more signs of con- fidence in the bucket for steel shares as it became increasing- ly evident that there will be no.general election this spring and probably not one [or another year.
Sensational
Tra .... 2700 27.70 1600 2735
500 27 Gains in the electronics hordered on the sensationat, Star Ferry ทหา Zenith soared 39 pointe. Texas Light
Instruments
declaration in
Varmall
(+1
18.70 10
2414. Maytag. 9, Lilión 20, Hoffman 444, and Beckman Maxtrumenis 744. MAIN SENSATION
On an over-all baris, HILlo The £100,000,000 take-over stocks reored good gains, mein- offer of Canadian Engle byly recoting very favourable! Royal Dutch Shell was probably earnings reports and the the main sensation of the week leash dividend in Thormerton Street and it inve years by American Motors. certainly the dres of activity which rese two points in very In the oil shares market, British netive trading. Petroleum, which hat bega Chemicals recred god gains.
market of inteDu
44. rather nerveus
Allied Core720 27 Tent rese due to events In Iraq was Chemical, 51% and Thickel more: STORES,
Hairy cheered by the Iraq Petroleum's than 11 points. The Thiokol chairman who sold on his re-when issued" stock added mire
from Bauded that there
than four prints. Unies Car- Wayan
turn
10-
the forecast last week and is expected to take another jump this week The American Iron and Sterl Institute reportert that mills turned but 2.657,000 10 in the week ended st Sunday, third straight now high in the sixth week in the past seven that output hus set a 11 is only by making use of and even
record. List week's leti, the best possible attelee from all the cutting away of the rigid
equal to $3.8 per cent of tuted fally is the quiet period of the fresale enough to affect the over- had been no talk of nationalishide, despite an excellent ear- that cal towns and plastic insulation from between
tion there. Burmah O went ings forecast, lost more than a quarter's
capacity, was 3,000 tons above your. Buyers customarily ecuat all price structure. citie, can avold the inotestrous the copper bars on
on resales to open up buying Elsewhere. the
poin!. strengthening ahead on the good results and com- The forecast and 16,000 10s opportunities in the early spring prices
noted were
on mutators. It is usually referred,
some increased dividend. mistakes of the pist."
The drugs, which have been above the previous week.
season.
sateen
with -Mr:Basil Spence, president of to as "slotting."
numbers, clong
The Kally market tended to reveiving some very favourable The forecast. this week is for
Despite the bandiering, the broadcloths
and shoe drits. drop in places, where American communis in the brokers' operations at 94.8 per cent of market maintained a bald front Combed goods sellers construc- buying showed signs of drying ports, also featured on the up- capacity
on prices. Jact week. A consider tics, booked at 30% cents up. This buying continued for side. ---- Pruduation - Phot
Tenable amount of stoneing“ oyurd for quick delivery in the alumínium by primary producers prices-went-on-between pyers foreport of the wook was not records in March and in the first fourth quarters. This strengthen the latter part of the period. three months, March produced the belief in serne quarters
FO- Weavers of duck fabrics flon
157,180 stort tons that a wis
contra-seasonal buying ported the arrival of unex- compared with 134,020 tons in movement may be in the im-pectedly large orders for heavy the same tooth last year, ac mediate offing.
drapery Roods, with the result cording to Lhe Aluminium
thut more of the wide looms First quarter pro-
have been tied up and turned duction was 456,013 tons com-
away from production of ducks. pared with 395,009 tons in the
The heavy unfilled order Manufacturers of waterproof The same quarter last year.
backlogs held by mlils, and duck fabrics moved prices up former records were set in maintenance of the five-day- to 1 cent a yard. January, 1959, and the last a-week work schedules by Buyers of coating fabrics quarter, 1856.
most mills, has established a operated cautiously, holding 10 The Bank of England state- "healthy" nituation which is fill-in purchases, but sellers ment for the week ended April apt to hold for some time, were counting on heavier orders | 22, reads as follows: market analysis thought. In-line with the stepped-up
rate of automobile production. Southern sules
h Ingentitive planning, with the aid of a magullyronfact new "mönhlý ma quarterly and sellers for the third valluble below 311⁄2"Terits & 20ldings-and-kylped, kuup this pressure. reflecting in part de-
wil!
Ly 1;posim ไป imdo, device. Working in this way to Now is the time to think." tolerance of 403/005 inches caused considerable fatigue und Ching Mall Sperint.
eye-strain.
Association, und start
The new under-cutting mwe- hine is electronteally controlled.
insert the armature the machine by push button. This method enables one semi- skilled cperator. to contrat number of machines and give p
Glass To Be Shown All the operator has to do is t At Photo Fair
TAXAMPLES of optical considerable saving in Jabour M glass claimed to be costs. The machine is made by the finest in the world will E.M.I. Electronics.
bo exhibited at the Inter-
national Photo Fair to ba
hold at Olympic, London, CentraSteel Seems From May 11 to 16.
A méticulowly
The firm will also
Republie Steel Corp., the third largest hi the United States, re- ported first quarter earnings of $20.844,585 oguinst. $8,583,500 in the saine 1858 period, Sales wer: $321,430,135, up 09 per cont from $100,635,870 a year ago,
The fifth largest steel maker, National Steel Corp., reported NOVEL experimittal its first quarter earnings at with $18,504,000 compared
quarter In his report, Chair
controlled Better Than Steel
Su
Could be spark
CO
Elnettle
27.60 27.80
23.40 25,00
INDUSTRIALS
1. Crew
..
1000 27.00
1000
500
10.10
19
500 6 18.80
100 / 1920
1000 618.00
1100 47 38.80 400 a 13.30
24 1080
4000 18.70 4500 ** 18.70 300 / 10.30 990 27.90
500 6 204 600253
2000 25.00
500 27.30
15 10 13.33
500 15.10
200 10.10
14.00 14.30
COTTONS Nanan INVESTMENTS IK & FE
Invest ...
300 18.10
103 10.70 1000 (4 10:40
7.15
250 64 10.00
R14
D0011
Exchange Rates
Duziness
Free State Gedeld and Western Leading all flecks were under
was done in the Local section of the market reasambly mands by the Arab Motions for
change marke morning at the following rates: Brm during the week!
a bigger share of. U profts 17.9. Gollur (per $13 amount of frum ell produced in that area, Sterling noten (per elj Despite a certain
Australian notes iper £!)... As can be seen from this adorarian ruplah iper 109).. profil-taking
Tubber shares reached
peak selected group of prices, the best Siam ticals (per 100)
gains appeared in issues outside Singapore (Straits) U.P.I.
muny 30W
Bank Of England
Statement
London, April 26.
Notes in circulation ... 2.050.231.201 Public, deposity.......... Private. dejinīti, ......... Government securities Other securities,
Southern cotton rules yarn spinners reported a stówdown Receipts In the flow of new orders talk | Rallo week, but stumments against old order continued to move out at à
Some Tast rate. northern yaru producers have been raling prices to com- increases granted lo rask
Teently
workers.
Sterling
12,425,605
301.300.368 *1,514,050 €1,503,Deki 50,073,612 15.2 ---U.P.I.
Bank Of France Statement
Paris, April 26. The Bank of France state- ment for the work ended April 10, rends as follows:
A sustained increase in retail sales could be the spark needed lonite in all-out demand, other observers felt. Failure of continuous process which, bas
culters specialising in popular and low-pricedressed, been eperating for 16 months at
and the North Wales factory of
sportswear, to move into high A similar to steel which 5426 in the sume Chance Pilkington Lid,
Fear Is blamed for the slower Helens,
movement of finished fabrles. Lancs, enables the might possibly be used in Inet year. manufacture of high quality per-
However, the arrival of wormy formance glasses demanded by place of plain steel forgingsman George M. Humphrey said weather for a sustained period today's photographic Industry. and permit greater
peniste. for war desigh current consumption of steel is could change the whole com- have on flexibility in making costings unit at a rate higher than plexion In thinking in the dress display optical mouldings shown has been developed.
expected by steel producers and firnde. accumulation of steel stocks, as Demand for soft-filled sheet- Rayon grey goods activity at a retuli, is not as great an hndings came as a surprise in view the mill level was more toward been anticipated.
of the recent concern manifested the quiet side, but prices held
Total gold holdings, je Sales up
over, the arrival of low-priced firm on most constructions re-
Total after currencies Asto, Nearby Recling increased wages and
Sight balance abroad In the Mid-wertern United imports from
in EPU .......... Sistes, where operations at goods were sought mostly, with recent mark-ups in the cost of
jsome of the, buying combig from yarns and staple sbro. Mean- Advance to Stabiil- some steel mills were suspend. consumers upset by failure to
while,
tion Fund buyers were mate pre-
чего ed altogether during
Total bills discounted 1,663,210,343,182 the get delivery of previously order occupied In digesting pre-
Banknotes in circula recension, sien have been ed goods from Hongkong.
vious purchases räïher than on runking Up to 49 per opht Originally, promlæd for April, entering new commitments at current accounts and
depoalis stead of a zene ago. In me the Asian shippers moved, the | this time. Cleveland area, they are about arrival date to May and some Wool prices showed streng→ 25 per cent greater, along the cases. Into June.
thening tendencies all along the East Coast 20 per cent, and on Whllo crlileal of the delayed line, because of the rising fread the south and, west conala arrivals, buyers of sort,filled ót raw wool sitd. Farm pricta, About 10 per ount.
[zhéčtingh, were reluctant to golok increased wakes and other The trade magazine Iron Age too far aherd because 57 15% advances in manufactuilók Kostk estimates that warehouse stocks continuing apprehension over-V. P. I.
the
in conjunction with Instrumente that incorpornis the mouldings Called Cex.traßteel. It le rail after processing.
to have the equivalent strength Of particular interests to the of steel and better machinability
for photographie Industry will be while
casting demonstrations of solid pluss | characteristics appear to be optical colour filters and the new upperior to sice).
CentroSteel, does not require heet - alsorbing, heat - Yeslating
extensive heat treatment, costly Alter glass.
Radiation shielding glasses addition, agents, injection will be shown of density of 2.5 peratus or low maxkn
content grammes/ce and 4.3 grammes/ce eulphur
For bith manufactured in both stabillied volume production some
Ap
and unstabiilsed type, polished fountry problems remain to be plate form, and also in block solved and sele on them Let for up to 4 Gins x 3 on kiệr way. The steel has been area and thickness up to 12 ins developed by General Motors with limitations regarding klusi | Chaping Central Foundry Divi- typu and weight,
sion, Detroit 2, Michigan, U.S.A.
Hon
Frans
P.O
R.M.S. "HIMALAYA"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
5.12 15.00
5.24
21.45
Thursday, 30th April, at 11.00 p.m.
for the UNITED KINGDOM, via Manila, Singapore, Colombo, Bombay, Aden, Port Said and Gibraltar. Passengers aró réquested to sind ALL BAGGAGE to the Hongkong & Kowloon Wharf Co.'s No. 1 Godown No. 6 GATE, CANTON ROAD, by Noon on Wednesday, 29th April, 1959. 10,127.302,126 SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Company's Godown for loading on board by ship's slings only. 250.972,0224 EMBARKATION: Papschgers hold embark between 4.00 and 10.00 þ.k. on 39th April, 1959.
201.003312,645
15,004,000,000
17,290 долла
UP
Agreed Merchant Rates .West Creimman paullenčmarks, Maximum Selling 72-7/16.
Bubject to alteration with or without notice.