THE CHINA MAIL, MONDAY, MAY 4, 1959.
SCIENCE AN SCISTERN
Ringworm Antibiotic Produced By Deep Fermentation
U.S. BUSINESS ACTIVITY HONGKONG
CONTINUED UPWARD
FIREWORKS
SPARK
DURING PAST WEEK
New York, May 3.
STOCK EXCHANGE
„Qui Own Correspondent
Bushers done on the Hong-
Exchanzo kong Block morning amounted to approxi-
lobe and the morning's trans- nctions:
Business activity in the United States continued this past mately $700,000. Noon quola-
week to maintain a pace which could not be attributed entirely to the artificial stimulus of inventory accumula- tion and fear of a stool strike.
LARGE scale production of the antibiotic Widespread worry about the Union Carbide Corp, also re- isen steadily, and, with con- griseofulvin recently found to be possibility of a steel strike on forted record first quarter net sumer prices holding on a jovel, July 1 has resulted in a prevail. Income of $41,881,459 compared real personal income has been effective in the treatment of ringworming, anood of caution amons to $22.632,016 Inst year. Sales Increasing the rate of one- the first three months half of one per cent per month. and other fungoid discases is now being businessmen, but it is clear that for
totalled $203,046,280
Unemployment is still fela- against $294,077,019 in the first güarler | tively high, but factories have produced by a British company at its
A year ago.
how reached the point where they must take on more, men deep fermentation plant in Lancashire.
tother than lengthen work schedules in order to increase production.
The drug is taken by mouth Instead of being upplied exter- nnity he is the case with
treatments for fungal conditious.
Research scientists pt
the
the figures for corporation earn- ings and industrial production In the first three months of 1030 provide a very real basis for supposing a bcom is under way. Manufacturers' Inventories continued to rise in March and manufacturers anics expanded further. Linfullled orders
recalled, of course. Greater Use Of
company's fermentation research Pre-Mix Concrete
division evolved a deep ler. imentation inellwd ut making the
antibiotic, previously obtainably THE volume of concreto only small quantities. They | used annually in con- have patented the manufacture struction work in Britain rose ing process and ure negotiation by more than thirty por cont manufacturing licences with a number of pharmaceutical com- between 1951 and 1938. panies In other paria ot the This was disclosed by Mr world.
Harmar Nicholls, Parliamon-
REMARKABLE RESULTS tary Secretary to the UK
For years dermatologists have been searching for a substance Ministry of Works at the which (a) would be absorbed oponing recently of a new by the cells that enable keratin, ready mixad concrete plant the protein forming the princi-[at Röchester.
pal constituent of skin. nails
ind hair, to resist invasion
by fung! and
The plant will produce con-
which (b) trele ready mixed for tast
could be taken by mouth.
So delivery to projects such
ДБ
far as in hown the drug now the new Medway by-pass, key developed is the only substance to one of the worst bottlenecks
that possesses these properties.
in the south of England,
Remnurkable results have:
The wharf where ballast will airendy been experienced in the
be unloaded is the first of use of it for treatment of ring-
be built along the wer of the hands, fort, nails, several to
expanding waterfront in rapidly mind also body and scalp
Medway. They chronie cases of fungal disease of the river where previously there had bees will be able to take ships of up to 2,000 tons and offer extenslye failures
facilities to
the because of arcessibility of the fungus,
in- alternative
It was in 1855 that two Bri-London docks,
fish research teams recognised 15-MILE RADIUS
then being de- griseofulvin,
the
veloped by this company for use The plant will produce 400 to in horticulture. As the least 500 tons of ready-mixed con- toxic anti-fugal antibiotic ever | grcle--enough to construct a known and began investigating | 750-foot - stretch of modern Its possibilities if taken system- | waterway 24ft wide and nine hically.
inthes thick. Discharged into Further work on griseofulvin truck agitators which keep the was carried But at Glasgow wet concrete in mailen during University by Dr J. C. Gentles) transit, it can be delivered to who confirmed the possibilities projects within a radius of 15 of the drug as therapeutic | inilos. ngent.
Large-scale rials, which are continuing have been earrin out in hospitals in Britain, In Austria and in the USA, FOUR-WEEK COURSE
In Britain architects and con- sultants are making more and more rigid demands for concrete to be produced to definite spccieutians of strength. other tablets flexibility and to meet for the treatment of ringworm! conditions of wear and applica or one of the other fungul dis- | tie,
A course of grisovin
four weeks.
cases would probably take up to The ready mixed concrete in- The Incidence ar serious dustry is playing a rapidly ex- Fungold infection is especially panding role la meeting these high in tropical and sub-tropical Punditions and over two million countries. It is expected that cubic yards were produced inst there will be IL substantial year out of a total national out- potential fox griseofulvin input of concrete of about forty Indin, Asin, the Far East aid milion cuble yards,
the American.
The drug is being marketed by Gluxo Laboratories, Ltd.
New Engines
Exhibited
The new pinni has been built
for the Drice Pre-Mixed Con- crete Co, Ltd, Rochester, by Winget Lid, Rochester,
Equipment For
-AMONG entirely new ex- Aust. TV Station
for the
first time at the Engineering,
showed a gain for the second straight month. The gain in the book was estimated at $400 mullion,
Although business has switch- from quidating inventory at the rate of $10 billion a year, in the spring of 1958 to necumuli- tion of about $8 billion a year, this accounts for less than halt of the upsurge in industrial oc- tivity from the recession low, and it is expected to continue long after the steel contract is 9ttled. Moreover, the specta- cular rise in steel output ac- counts for only one quarter of the rise in Industrial activity 'so for in 1939.
Building Power
B0-
Thus, it appears that, quite Aside from inventory comulation and steel, the in- teracting processen of recovery are stil building up power for further advance.
The Arst quarter's corporate profits reached a level almost 54 per cent higher than in the re- Cession-hit period a year earlier, und another sizable galo ap- pears probable, in the current Quarter. The trend in proñts now indicates a new record high for the entire current year, ol- though year-to-your percentage gain later this year are unlikely to be a wide us now.
Earnings reported in the first quarter by the U.S. Steel Corp. were up 7 per cunt over the Fame quarler of 1958. The
actual profits after taxes of the largest steel producer in the United States were $100,585,303,
General Motors Corp. re- ported a big net income for the Best quarter and anticipated sales increases averaging three per cent annually during the Tex1 five years. This would result in an annual level of sales of about 7% million passenger | cars a year by 1985.
These were but a few of the more significant reports from curperations currently enjoying record earnings, 14 will be that the prosent "boom" t lt can be to called, has occurred without any benest reduction in taxes such de
was widely advocated
CITY LIGHTS
APKSUC
"Pliss you buy saucy postcard, misia ?"
London Exprons Berplos+
shares Dayer Sellers BANKS
Rater
XX Dank..
atz
302
53 840
GB425 150 of 201
73
Boat Asia
Des
INSURANCES Union Underwa Wheelocks 1.00 $35 3000 @ 3.33
SHIPPING
H
10
DOCKS, ETC. X. Whert.. Dock ......
40% Provident+ 11.00 11,00 Tattoo
331 3324 LAND, ETC.
BIG 5,75 4000 0.00 20000 4/485
100 61 41 cox or 11.00
FK Hatel 2915 1500 29.00
13K Land
Humphreys 14.70 140
1375 1.60 200
Flenity
подрал
Trust..... Amig
1,00 151.00
2.50%
2.19 7.30 1.45 240 2.273 1908 2271 5,10 221
White collar employment, ac- cording to a survey of employers, is due for a fairly rapid rise after million from the falling two mild-1057 high of 23 million.
More Difficult The survey found that it in becoming more difficult for a buntisætin #a to hire a whore- A. Tawah.. lary, that salaries for clerical Bung
UTILITIES workers and office managers | Tram... 26.30 20.03 1350 4 28.0 are just beginning to risc
1000 er 2015 Star Ferry. 112 after a year's panie, and that
Yauma Thelp volume of newspaper
C. LJEST wanted" advertisementa la in- creazing_rapidly.
ment
Electrio
D 185 18.00
0011
100
27.70 27.90
10 101
.
1000 10.00
400
WALL STREET
SPECIAL ISSUES
New York, May 3.
Stocks began and ended the past week on a note of strength with the regi fireworks in special issues.
Industrials reached record | utility group. Industrials gained average high on Monday, de- 22.04 points, rails 6.17 points clined for three days in a row and utiles lost 2,10 points. and rollied again on Friday, | April sales were the best for the
month since 1930. A deterrent to the market-- fears of tighter credit restric- llons-failed to materialise and that played purt in the Pridoy recovery.
The various industrial indien fors pointed higher with steal production again at record high and more than 100 per cent higher than a year ago.
Other Gains
All
olhers gained
Best Advance
Aprit showed a gala in dof- Iar value of lated lasues amounting to $10,780,009,005, the best advance for any month this year. January was slightly while February arid March abowed แน change.
Up
Wall Street noted that for several acasions lately regard-
exoepths of whether or not the aver
apan rose, declines outnumbered automobile and that was well gains for the Individual Issues
There was traded.-U.P.I.
In-
above last year.
in stich television, all.
improvement dustrlen
machine tool sexitle, and which had not been riding the crest with the others.
Iniranda had in their favour
an agreement to merge Erie and Delaware, Lackawonna
&
18.30 Western, and a car loadings re-
500 e 18.00 2000 1935
port nearly closing the gap 206 * 27.10; between curreal Agures and 1951 300 37.80 comparisons. 264 e 27.50
Macao E... Telephone 29.30 28.40 1500
INDUSTRIALS
...
100 20.45
1500
NY COTTON FUTURES
END STEADY
New York, May 3, Cotton futures ended the week on a note of steadi. ness after see-sawing in- decisively in quiet
20.30 At the close of the week the averages registered 20.30 brinelpai
small declirios, The Dow-Jones Cement 28.20 28.40 1300 e 18.20 industrials closed at 025.00 off 1500 18.20 2.33 points from the previous
week.
dealings. Rail 167.07 of 0.33; des 01.44 of 0.22 and 05 stocks 213.00 off 0.60. Wha Etandard & Poor's 500-stock index closet at 57.85 of 0.31. or up 15 cents to $1,10 u bali That means stock dipped 21 rents a share on the week.
14.45
11 17.20
200 17 800 47
100 # 17
Meanwhile, commercial CX- ports in. March rose to nearly $1,400,000,000 or $107 million above the three-year low of February. It was the first time exports have gained over the prior month since last October, Dccording to the final Ügures re- leared by the Commerce Depart-STORES, ETC.
Dalry ..... 16.70 WAL Steel mills were expected to, L. Craw... continue operation at the present 05 per cent of copacity for the remainder of the first half, Το sion.
put the rate appreciably, above It is belleved the gross that figure would require the nnonal product will reach the use of uneconomical equipment billion in the | end considerabla'overtime. Lok: annual of $475 present quarter. This is nearly | week, steel makers turned out five per cent above the record | 2,089,000 tons for impots and level of 1957 when the effects of castings.
then are taken inflation stuce into account.
during the depth of the reces-
Bearing Up
Convinced
The trade publication Iron Age sold that total production of steel this year could approach or even exeved the record 117 million lous produced in 1957. building "More steel people are becom materials, and general mering convinced that the rise in ohandles are bearing up gross national produci, one of
Retail heme
Bålen products.
ot apparel,
favourably and most - groups altained new records in the
Arat quarter. Apring car sales seasonally, have turned up Auto production during Apeli au kurpassed the mark re- carded at the beginning the monik despite light Brop in production this past
week.
of
For the past several months, the rate of consumer Income has
London Jobbers Short Of Stock In Rising Market
London, May 3.
the best barometers of economic activity, is the real thing. They look for a continued rise in the second half and In 1000," the publication saith,
The mills are now secepting
third quarter orders with more crnidence than was the case
carlier this year. On top of is, a shipping backlog means
second
quarter that business will carry over into the third quarter.
some
A Record
A record in highway and bridge construction contracts was predloted this year by Engineering News-Record.
The publication said that tolaj contracts should reaola $5.3 billion,
COTTONS Textile Nanyang
1,70
4.15
4.30
MISCELLANEOUS
11.10
INVESTMENTS Int. Invert. Alfed
453
Limited
The month of April made a in all but the
good showing
Supplies Of Goods
Nearby
In U.S. Cotton Market
New York, May 3.
Buyers coming into the cotton grey goods market this past week faced limited supplies for nearby goods and higher prices on a wide variety of constructions.
រវ on
ΛΙ Friday's close the list ruled three to 22 points higher,
compared with the preceding
week.
it was the first time in a month that the market enkled with a union gain on a week
run.
Old
crop dellverles Up
of the activity. Mont lenders were taken Up in spot interests.
Increasingly favourable reports from the textile trade, with an attendant rise in the sales of spot collon to enilla, plus an ex- pootedly high rate of domestic mill consumption. in March, were other stabilising ip- ficences,
CENSUS REPORT
The Canids Bateau report- Ed March consumption of raw cotton in the -U8. si 86%,582 minning bales compared with 129,835 baten bied last year. Raw cotton exports for the Besson Through April 28, 49 reported by the New York Cotton
totailed Exchange.
2,110,091 bales against 4,273,450 bales shipped in the same period set year..
Mark-ups appeared
yarns, particularly to the carpet number of print cloth yarn irade, reported a slow situation. fabrics. ulong with sateens, Hard fibres featured a further poplins, shoe drills, Bedford mark-up in sissi and hemp while cords and broadcloths.
burlap prices held mostly un- Loan entries for the week. The dimeully in locating spot changed in small dealings. ended April 24 totalled 13,382 while withdrawals In rayon grey goods, converbales and nearby goods brought a brandscale buying movement ters thought prices on finished amounted to 33,801 bales, Tilk through the third and fourth goods will have to be moved up left 6,391,223 bales last year. quarters on print cloths. Some shortly to compensate for higher The loan privilege on the 1058 mills, with 60 to 60 per cent of finishing costs.-U.PA,
crop expired April 30-UP.I. their 1959 production sold-up, are purposefully marked up prices even more in a move to "ight off" any more new business at this time.
Among the factors which will determine how well sustained the present rising trend will be. practically all of them strongly favourable except spending for plant and equip. ment. The latest forecasts in-
18tle diente
change in this
Brokers described last week's business on factor in the second half of the
the Stock Exchange as “tremendous
- with the big investor as well as the small
investor in the markets.
year.-U. P. I.
Bank Of England Statement
A Surprise
The coalza-scasonai demand 'came as a distant surprise to some observers, brotüse the late spring and early summer months traditionally are the "dullest-period mom kärm, at, becoming when everyone is vacation-minded Higher prices paid for grey other advanced goods, plus operating costs, including labour, will compel à rise in finished 13,346,197 goods prices, "sooner or inter". telembeni dressmakers' and plece goods $43,019,000
They thoughai 46.100.19 buyers reasoned 40,000 consumers should count on pay-
16.0 -V.P.L."
ing advances "before long" on sheets, pillowears, bedspreads, towels, blankets, table and other Eousehold linens.
Marine Welding and Nuclear A BRITISH firm has been "Energy Exhibition late month Z1 awarded the contract to
A times so great Was the This
search for new fields were water-cooled and air-supply tolecina equipment demand that jobbets found with bigger dividends is the re- of stock and sult of the past few months'
London, May 3. cooled dietel onginos made for a new commercial tele-themselves short
the blus The Bank of England state- were compelled to buy in order strong demand for by Ruston and Hörnaby Ltd, vision station at Brisbane
which has so inflated ment for the week ended April 10 cover their short positions, chips" and their associations, the due to start operating later
tir prices that the yields have 29, reads follows: Davey, Paxman Co. Ltd.
been reduced to levels which do
Notes in vireulallon... not attract meny Investors. Pubite deposits
Privata deposits *** Government securities, Other sacüirīties Ilecelpin itzuo
this your. In the water-cooled engine
The Installation will be made section were two completely new up of two units, each consisting pawor units. These engines are of two 18 mm film projectors,
Ruston BATC and the
the with faelifies for silde pro- Foxmas "Venture"--both units being of revolutionary
design,Jesters, The 'GATC' pressure-charged
and
6-cylinder, The equipment includes
Inter-new 13 pe of caption scanner, cooled engine and is the repre- | compact in size, which has been genialiva exhibit of Rustons" { designed to read standard sized new "AT" medium speed presis caption cards and has additional sure-charged diesel range, which facilities for using the roller covers 705 to 1005 bhp in dve captions popular for titles and -sizes --- five to nine cylinders, credits in fosture programmes,
The Paxman "Ventura" is of
The scanner incorporates rund importance since it la u vee-form diesel engine having a Improved lighting system and power to weight ration which is uses the now EMI broadcast probably unmatched by any vidieon esmern recently in- other water-cooled power unit frodused for studio work, which in the 800 to 1870 bhp range permits easy Interchangeability which is covered by this new of cameras. engine,
The Ventura has been de- GREATEST VARIETY
- signed as an addition to the
HPH and YHX engines and for |
from
bas
GE
and ensuZNE COLL-
The telecine equipment is applications where low, weight available for operation on 405, is of prime importance. Some-525, or 628 Une standard. It Indication of what
been chables the greatest variety to the pro- schieved in the design of the be introduced Inte Ventura range may be obtained grammes
fact that the 12-inuity of transmission in the the cylinder "Ventura," in com event of a live programme being parison with the company's 12-ddenly cancelled. cylinder 12RPH which has ap- Various types of projectors proximately the same cylinder can be used to mult individual bore and strokó, has a ruling requirements, making twice that of the 12RPH yet le equipment particularly kullabla. specide weight là 60 per cent for overUINA, brösdossing Ies anduity ocouplés no mate nuthorities," (EMI. Electronics. space.
| Lid., Hayon, kiidiliorax,]
The continued selivity in the markot for ingiustrial equities last week resulted in the Finan- cial Times Industrial ordmary Index climbing each day to A new peak, and on the week it Taze 2.1, points to the all-time high of 228.8.
Hire-Purchase
·
the
Selli $.004,130589
Bank Of France Statement
and
The sportswear, trade became a prominent buyer of warp
corda autechs, Bedford Doulin during the week,
Brokers also reported a pleit- up in demand for wide industrial goods. Cooters started to take modest amounts of cloth for Muy-June-July delivery, The 11.176,000.00 scelerated rate of automobile production quickened the den 18,804,000,000 mand.
Francs
flire-purchase shares were up on the week. Both Elliott- Automation and the Brech- The volume of business in the
Kam group have done well on gilt-edged market was' again
the news that their shares STE moll last week, The Insiitu-
to be deali . In. "över tons have been busy elsewhere
counter" in New York through In the Industrial market with
the medium of the American
Paris, May 3. the result that demand has been
The Bank of France statement depository receipts. negligible. But there has also
for the week ended April 25, been little telling, so price
Insurances have been active, rends as follows: changes have been insignificant. Stores have been quiet, textiles Except for zome speculative mixed. Standards have bee Total turrencies dealing in Greek and Hungarian the main interest in motore and sight beyance abroad bonds the foreign bond market Jaguars have further receded.
En ZPU was particularly quiet. Trans
Advance to Stabilă”
Another influence has been a atlantic stocks WETT largely The market in oli shares has Bon und weise
Total bills, discounted | SH914 9193) | growing demand for
coated neglected except for some been more active and it reach
Notes in dirvul eden 18.062518 | fabrics from manufacturers of Canadian sues.
ed its climax mid-weok and Curvent: sccounts ind
Juraago, footwear and handbag detalle was tending to subside at the
interiors, trying to escape from close. Most of this setivity was
the higher cost of leather. switching between · Shell and Canadian Engle,
Two Factors
Exchange Rates
Ekielsens was dona in, the fucks
6.12
Shadowy Spot
One shadowy spot, however, on the Industrial fabrio markos wke the news that the Govern- ment plans to sail without 80,604,000 ADES DE ONLIN
非
or
There is nothing fore-ordained inevitable about Tuberculosis. It is caught, not inherited. No amount of poverty, star- vation or squalor can cause Tuberculosis in the absence of T.B. germs i no amount of riches, education or social position can guarantee protection in the presence of T.B. germs.
is
We can all help cut down the threat of Tuberculosis and the sbirow it causes in this Colony by supporting the Hong Kong
which Anti-Tuberculosis Association dedicated to the task of combatting Tuber- culoals and · has as one of its primary objectives, the provision of more hospital accommodation so, that the sick can be cured and the germ carriers, isolated,
Cheques should be orassed and ‚æddressed:
Thu Hồng Mong Anh Purusselssie Anolacton
efe Lowe, Bingham & Matthewn, Alxandra Nours.
or 60 Bouth China Morning Past, Ltd.
duck cloth, As a result, Deyers | Health and Happiness can be restored
The politics and casamie news last week in general has
Among gold shares there have- choouraged waliment in the been several strong features but unleaded market, Kinta Industrial market. The fall id inkhapleynight and the the activity has had a specula-morna at this solowing rule
1,8, dollari (par 31) Live basis. There has been a Karinakozás 415 mainiet mes of the kio la in-good deal of buying both trom Authen... dariział spodurilon were two bhannwbury and through South Inderkasay jubina (par 100) 392 Chelaki which · Helpsä this market.
Was Arical points by US. Interests (per 100) InEndwat
This broadening of demand way
*Equator 343 sustained brake rispecially noticable as the week Agreed Merchant Rates rusion on carded How of demiyally pływa A closed and finance houses tended TOMISYU LAR]; Wyck kad Tavamb: benefit mbet.
a courl","wblip edirse yazus were Canadian Dollars. Moshium, słowy, Dambid for sardod nun- BAPIDE, TO`Mared on ibda well- Rubbers havò bien" "qulet láit | Balem" 16" 171a; Mihalistna Blayz, 541) Bins trodi, knitters · 136" known companies.
week. «U.P.K
# 18 15/18 T.I. 17 OD.. wesvare,... Bolhatra of coarse
? [kë (Outandion at the kela or
herà ook of lip, zerstark fʻuntii, they as what happin
Coltan yam splaners coportad
to matly sufferers if you will
GIVE THAT THEY MAY LIVE
t
7