DAKURTH
FLYING A JETLINER
!
-ON THE
dhan, at dhe i po
GROUND
THE CHINA MAIL, WEDNESDAY, JUNE 10, 1959.
London
Continues
To Go Great Guns
London, June.9.
London Stock Exchange continues to go great guns, with much gound investment buying and some unsound and rather comical gambling. A technical correction is highly desirable
but will not necessarily come.
On the one hand, the anties. in such things as Greek bands and some property shares could make the whole market. vulner- able. On the other hand, every- now knows that there has
been a revolution in the funda- mental supply-demand equation as between equities and bonds,
When there has been so much
TUCKED away in a quiet corner of Bond's London Airport base is one of the most up to the minute aeroplanes" in the world and yet it never leaves the ground... All the same, its laporant speculation and such daily "fights" are a vital part of the task of train-one-way markets, a shake-out ing the men who fly Boar's fleet of Comet 4 jet-election announcement or com
liners.
The "acroplane" is the Cor-round inside a poration's new Comet 4 simula-building.
electronic coran
amazing Irnining devico which enables the crow
the to practise on
of ground all the hundreda skilled tasks which they have to perform on overy Comet 4.
flight in
is always possible, say on the
international shock .or next quarter's downturn in the U.S. brick office steel, auto, oll and rubber in- dustries. But there is a lot on the other aldo,
The secret of the Anulator's astonitung realism Hes in a large and highly complex elec- trole brain, fitted nearby, which instantly works out the effect of zilon the pilot takes, and makes all the other ventrols and Instruments revel exactly as they would In fight
The simulator looks exactly Bike the nose of a Comel 4,
fight deck, A while Inside it is a perfect re Behind the production of the flight deck of controller sits at a complicated the airliner, complete with all control panel. From there, he 1 corea of Instruments and can feed in the sort or pro controls which, a modern air-lema the Comel 4 pilot must be liner needs.
REALISM
Scated at the controls of the rimulator, the Come! pilot can "fly" it will uncanny realism. In his cars is the quiet note of the four jet engines. As we muves the centrol column, the
recall
prepared to meet, while an checks the pupil's instructur reactions to the problem. There, in perfect safety, the Comel ploi can be freed with "emer- gencies" far worse than he will ever have to meet in proc- tice,
Downturns
As those U.S. downturns have been so well advertised, they discounted. Europe's my be Industry-about which the OEEC is cock-n-hoop--could well take up the running; the soft spots in Belgium and Scandinavia merely serve to highlight the glowing prospects in Germany, Holland, Italy and Britain.
The Investment revolution is rent and rests on for mare ikon inflationary psychology, As it has gone so much slower in
Uion London
in overseas markets, it could go further in London 'before It has a setback elsewhere.
On International carnings and dividend yleld comparisons London even after its recent advance, is still the half-price market. The comparison between
CILLIONS
Canada in the crystal CANADA
POPULATION
13.4
1948 1958 1960
GROSSIGN NATIONAL **PRODUCT
£M The
1948 1958 1968
Canada is attracting more investment from Bri- tain. The demand is for solld'shares with a-substan- tial stake in the country's future development. As this chart shows the growth potential is great. These figures "crystal gaze” 10 years ahead and point to the increase in population and the wealth that will be generated.
LONDON CLOSES ON DOWNSIDE
alters the throttles, the air landings demanded, all of which Shell yielding 4.8 per cent and The stock market closed on
ounce
the
Engine and other faults can be thrown at hiro, tricky Rose of the device rise or fall; up which he must be able to
navigational problems thought | and the altimeter will
The cope with Immediately, difruit
demand every
concentration, pilot's skill and
o Anal touch of until, with brilliant realism the simulator "touches down" on the runway to the sound of rumbling wheels and squealing brakes,
the change of height. As speed shown on the Indicator In front of him will show the change of speed, the sound of the engines will change, and the engine instruments will record the change in "power" So realistle is the device that plots admit that, after a time, it is hard to realise they are not in fact flying eight miles up, but a few feet from the
authentie note provided with the old of a tape recorder,
Threat Of Blow-Up pilots both faster and a great
At Shipping Meeting
Washington, Juno 9.
The simulator not only gives pilots a chance to learn many of the skills of jet dying with- out the difficulties of doing so in a real aircraft; but also makes the training of Comet 4
deal cheaper, while at the serne time raising Bonc's strict train Ing standards higher than ever. It also enables ✡ complete Comet 4 crew to be trained together, another big time and
BRITISH Transport Minis- cost saver.
Harold. Watkinson threatened today to ratur REPRODUCE dt once to London unless the United States showed what
sources.
The sources sahi Walkinson took this tough stand as the result of a declaration ancte Like
Corporation's
by U.S. Maritime Administrator nying staff. the crews who man
Royal Dutch 2.8 per cent relates to two parts of the same bust- ness, und if anything it may undersinte the general earnings relationship, both because Shell does stand higher than if it did not happen to be one of the only two UK stocks listed on Wall Street and because UK. com- panies as a whole still distribute their earnings more conserva- tively than companies In the U.S. and most other countries.
Redressed
Andervaluation If London's derives from the uncertaintles of sterling and of British po- ties, there is a constant possi- bility that it may be violently redressed, because one aspect of those uncertainties has turned bullish and as a whole they have been exaggerated.
2
Mahy U.K. companies are now adjusting their dividend of pulicies to the possibilities dividend limitation and nation. allsation, however remote those pessibilities may be. Sterling is underpinned by the overvalun- tion of the dollar which is so Intensely difficult to correci.
despite a late rally.
investors Bargain hunting tended to offset the renewed bout of profit-taking as a re- sult of the fresh weakness on Wall Street.
Gilt-edged securities were mostly unchanged,
Industrials
Industriale finished mostly lower with American favourites suffering the bigger lossen. Muin exception
to tlie trend was newspaper shares
which closed higher.
Greek bonds eased in the foreign bees market end dollar
London, June 9.../ the downside today
Chicago Grain
New York, June 9. All prices u conts per bushel: Wheat No. 2, red
HONGKONG
STOCK EXCHANGE
Mur Own Correspondent
Business done of the Hong-
Kon Stock Exchange/ANT mcaring mounted to approx-
FagóÞ
BORORO
Aluminiums Rule Strong
In New York
Į
New York, June 9.
mixly $280,000. Noul quAluminium issues rufod strong in a lower
tlogs and, the morning's: trana. actions:
Sharre BANKS TK Nank
Buyege natiera
INSURANCES Union
Lombard 7013 73!4
BUIERING
FOLKS, ETC.
What .. ▼ P2.
Deck
Provident
Tainco
31.40
ora
stock market today.
The mous showed salos|CabCorp
C. I. F. Financial Corp. ......** ranging to 3 points in Rey-Chase Manhattan Donk nolda Metals. In a late come-Chrysier Motor
Cluett. Prapody' – 114- backdréne the lows of the day, Cafeleramalve.co.
Whecek. B. 230.53% some issues managed to clan Colombian, Caribe Co.
aces higher along with the aluminium commercial Credit
Consolidated Edition group but a majority 101 Continental Oil of Deli
Crapa Ca 2003 round.
Crown Zelleitabh Small feloding gains were Satan Amor, Bugar .In Allied Chemical,Diamond" Alka Chrysler, International Har Diamond Gord 2004 33% veller Schre Roebuck, Texned, Douglas Aircraft 200 234 United
Aircraft, and US. Daw Chenickis. Steck Rails miso recovered stern Airline
pant, de Nginours
LAND, FI 2055 3234 1000 321 notes in
JK Hetal
HK Land..
Humphreys Tealt RUBBER
Amalg Trun
UTILITIES
Tram
10.4
33 234
15 1818
of catly
declines.
the close, Procter
Damison 'Stores
Kisan Kodide.....
AZI Paso National Ger
Firestone Tyre & Rublier
Gunble was down 34, General my indies Cotp Foyds, two, Goodyear General Electric 142
port
27.00 20.10.
Star Ferry.
114
Yaumati
አርቲ 100
20 6 106
100, JAG
C. Light
17.00 17,50
Eitetaje
*** 27.30 27.40
Macro E
19.30
+
and
and Jane NaLKCity Bank Aks
each. For Mold Co. of Cana, For Motor ARIANNA
14. Georgia Pacile
3037 17.00 American Tobacco lost to 17.3 Rall losses ranged to 1% polots Gonna grandes
132744
400 37.46 in Norfolk & Western.
300 67 2030
Tel. ...... 20.30 25.40 1030 28,33) INDUSTRIALS Cement
3016 30% STORES, ETC. Dalty Watson
Crow COTTONS Textile
Nanyang
ነው
14.30
17.00
4.03 5.10
MISCELLANEOUS
Ch. Ex ..23.00 Vitro
INVESTMENTS
Allied BK & FE Invest
*. 12.69
0.10
4.33
Major Groups.
General. Bactric
Ciclista Food
General Motora.
Gen. Tyre & Rubber
All the major"groups" finļshed Spy,ÕITA. lower. Industrials were more Gilden Co..
GESCH(F) Co. than two points above their low Goodyear Tyre 1000 14,40
2006 14.30 for
the day. Utilities with Gemona. Atripart 500 g 18.40 decline of 11⁄2 per cent werer OL
the widest losera,
2000 * 12.70
Drip-Dry Cause Fall
Mamanand" Depa
| Redden Misuport Cary,
Today's volume was 3,490,000 Hoseakening Co
shares.
Of a total 1,224 Issues traded 307 were higier and 723 lower.
American Exchange volume was 1,470,000 shares.
Humanus fictity.
her
mid-Mand
Imperial bu
| Inland. Stool. Có,
Interchental, Coru,
Int'l Business Machinew
Bonds volume amounted tinti Harvester
$6,000,000.
Inemacioni Nickel
Dow-Jones closing averages International per
were.
30 industriale
InTel, & Tel.
G132 Jah-Manville Co
Kalmer Industry,
10044 C. Power
05.71
Kermecott Copper
27194 Kimberly Clark
20 ralla
15 uses
Od stocks
40 bonda
03:37
Comm. future price Index
14023
Lilton Ind.....
300.10
Liggett Meyer Tob, Cu..
Elly Tulip
Manchester, Juha 9;4-| Moody's index
Closing Prices
The Empire Cotton Growing
Corporation today blamed Abulbi Pwr. & Taper
.
Algores Steel Corp.
Allied Miki Inc. |Allis Chahiner
drip-dry shirts as a contri- Alden ine. Aer butory cause in the fall of Allied Chemicals cotton lint prices. The
Corporation's report, Bako Sabe Amonicon Alriino presented at the annual meet-
American Cabla' A Radio
Curi ing here, safa that last year
American Cyanan. Co. the price of
cotton Bnt feller. & Form. Power steadily and differentials be- Ain, Geskectric
A. Homo..to. tween short, long, and extra-A, Mact & dry.
130-1315 | Jong - staples diminished
|gressively. ..
pro-American äiclat
Am. Natural Gas Amerleon Sing)ting
It said this was partly due to Bugar, Ket,
Spot
105
July 104% (1) 2015 (2) 10432
Sept.
106-107
-Doc.
1931-
dar.
100%-
Corn No. 2, yellow
Spot
July
Sept.
12012-
Dec.
11311
Mar.
1107-117
the
Rye
July
price support given by United States Government
the
American Tob. "E
American Tel & Tel
to
Anaconda Copper
Bept.
1271% 12111
American-type cotton
and
Arnica Steel
Gati
dull
Gold stocks rallied to close mixed. Coppers were... mostly enster and other base metala
Oll Issues were lower.—UPI:
July
partly to the introduction of the drip-dry shirt.-Router:
Sept.
15%
Soybeans, No. 2, yellow.
Spot
July
Sept.
stocks fell back with Wall Street.
Closing Prices
Giltedged Borids
3178/03
British Transport 207th..
Coneals 2-EB1-3/10.
• Cunsola 42%==£74-7/10, Convenzion Lean 30%, 1960 40-13/10,
Funding Loan 3
1958/00--
unding Stock 3%. 1900/2964– Funding Loan 45% 1000/00
1016/
Savings Bevine 3%, 10/10-3-13/14. Savings 15, 1983/75-275-1/10.
Barclay's Bank 4" Lid ord- 194T
"Chartered' HaR --459,
Jongkong 2014
Insurance
The flight engineer, a vital he considered a more reason- nember of the crew of a device able attitude at the Inter-us complex as the modern air- liner, can also learn the tech- national Shipping Confer-niques of jet aircraft handling ence, according to informed on the simulator, which can also reproduce all the functions of the engine controls, both on the ground and in flight,
Above all, there are mounting possibilities of the Conservatives 3 all the
winning the election within
and quite likely 471-15." Clarence D. Morse at this the Comel 4 are hand comfortable
increased majority. If this be morning's session of the con- pleked pechutists, who have ference.
undergone a long and therough comes a dominant market fac perlod of training before they tor, elther by expectation or by They said Watkinson was uptake control of the aircraft. Itt the election result, steel shares are not the only U.K. industrials net by Morse's declaration that particular, the Caplokos, many
capable of jumping 50 per cent the United States did not in- of whom have hundreds or
or more in short order. tend to nudity its shipping even thousands of hours jetliner policies and certainly would not experience behind them before do so on flag discrimination Jining the new Comet 4 fleet, (government generated cargocs)
are men of vast flying ex- All crews perience, but, like which was the subject under Alscussion......
Comet feet, they joining the NO LAURA*6¬B¢180}***="CONFI The Bourdesunta Morse spell before taking command of clearly implied there was noth- a jet airliner. That means not
Instruction on ing more to discuss about the only classroom
the technicalities of the US, attitude
on cargo prefer-
loer they will fly, but also long periods of praetlee on the Comes 1 simulator.
There
hours of practical training in the 100 of course followed by a
the actual light over
route they will be flying to add Anal polish to their skill,
ences,
They raid Watkinson recalled he was a busy cabinet minister and had not come here to listen
to euch
unes-operative atlitude-UPI.
are many
به کمالة
that
Union, finee Canton-24 ár Aircraft and Motors Brition Motor- com. On-12
Ford Motoseries. „Dlatiliais. Ecad06,
The threat to the Conserva- tives from Liberal interventions seems to have been hysterically 10
Notions exaggerated. Liberal vote-splitting wilt rob the Conservalves of a decisive" number ut scrie-may-como, in retrospect,
to rank with the fears that Suez was going to bring a fuel famine and millions of unemployed.
* MAI 2
Intervention
je
Buliding and "MaterlilyTM prestigi Forland Comment—Gis__ [UNG" Finchin Johnson Associates Ord...
Nov.
Jars, Mar.
Darley,
Exchange Rates
(business whe Kojie in the local UNONIMALI Zexchange market this
morning, at the following rates; U.S./ dollarm) (per #1),
Atlas Cons. Mining Baldwin-Limasilam. Baltimore & Ohio
k of biafireal Hanefcis · Finanot Bendix. Aylation Corp. Busquct Const Dettilehem Steel
Boning Airplane Borden (TBA) Co. Burrough Add Machine 3.74 h "Amer. Qli
Sterling hotel (per 211 13.95 Australian notes (por £3
2001
210
Spol
120-133
New York flour
200 lb..ck
$13.10
-UPL
wadaylarn out of
".
Indonezian rubish per 100)
[Slam tesis (per 103) 224,41
Yesterday's Closing
CamBk. of Coinm. Campbril Soup Co.
Curation Pactße R. Can G. X. C
Yingapore,,,fpirulta), m, 1.91. - Cat, Tractor
(vitarlunion) kallasmos odi
COMMODITY PRICES
SUGAR
1st 1
NEW YORK
All prices in cesta per 15.;- Contract No. 4" (world)
fold.
July
Coal Steel and Engineering Babcock & Wilcox, Ltd- Kis. Vickers Ltd "BAD.
Sept.
Oct.
JOAL:
Food and Tobacco
Mar.
Eritish American Tub Co., Ltd
Moy
Imperial
Tobacco Co., Ltd—JUs
July
Sept.
Ord--Ga
||Td.
British Oxygen *Liik 17.
Canadian Pacie Rly-32. Bunter Stubber C- 7. Hongkong China,Gas-131, Imperial. Chemical--a 54,. Lyons *-Co-174 pd.“ Walleyer 0õel od vre
Indeed, just na Suez In fact brought an oil glut, there is a a real possibility that the effect of the Liberal Interventions will be the reverse of what is com- monly expected. There are some signs that tho Conservatives may tare relatively better in the there is Liberal places where vald-splitting than where there is not.
..
46
The Liberala do draw"""more of their votes from the Con- servatives than from. Labour, bat hat by any’-margin that is and likely to be significant, those Conservatives who го gard the vote-splitting as unfeir tand to rally round the citadol where they otherwise might
Opery interest: 9al contracts, Contract No. 6 (domestic
Mixed Contract
Justy/Aug
Oct/Nov.
March/Apri
-A8BAZ
·នផងឥត
“BAO FAULO (All prices
in cruzeiro per
July
Lakieralup 13 quand on I
METALS
NEW YORK
Lockheed Aircra
| CITY LIGHTS
Y thought po sita half the car industry's output toent abroad/
· London Georesa Bervice.
Loews_Incorp.: Lone Blar Cernent Co Lowenstein & Schm McDermott J, Bay: McDonnell Aircraft _Block_Exdo.) Sesat Iron Corp. Minnesota Mining - Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Egg Sa National æquit· Goj National Cash Reg. "A" National, Dairy Prod. NAUTISK SEVAK Natipeal, Bleek - Chopp, New York Celltrai, Norenda Mines Ltd. NOTLOOK Western fly: |Horta - Arder:)Aviation
North-west Airlines Old MathTestos Our Elevators Owen-Tilinal, Claes
Ghi 4 Eloo.
Pan American Airways
Picturuy Barke
Patuny J. Co,
Closing prices all in ceate Pen Cor
56.30 per lb. "Average price in 0.8: alijq=
designated spot markets: 34.5B. Lead Total sales: 1,813 bales-UPI.. PADOVANA,
gulision cot Aerie pa-kaza
RUBBER
F... A
NEW YORK"
おせし
Zine
Copper July
Sept.
Tiet July
Sept
LONDON
sik
11.356
11.4bb
13.345
10.706
Phillo Morsia
Pitner. Bowe
Procter & Gamble Con
Pliwburgh Plate
law
Publicker Industries Pure Oil Corp 3000-04 Radio Corporation 30.00-95 ndio Cori. Pref,
Raytheon ... GETRA Republia Biel
2 b
Reynolds Metata Royal Bank of Consda Gears, Roobak & Co.. Shell Oil Co.../
Closing prices, all in sterling away Blones
per long ton, unofficial after-Baltit Reg Paper
Rex rubber futures closing noon sesalon: prices, all in cents per lb.
30 Sek. Now.
Bpc (C12. NiY, roc-duty), Open interent:
A83
Juli
4309
Oct
Nov.
fan.
Mar,
May
July
Bowater Paper Corp dig-49 94 VPL
Radio and Kiectrical
03.
sociale. Becirica)-60€ od, Electrical & Brusical-1 English Electrin Co-42%. General. Ziecirlo. 33, 34.
Shipping Indo-Ching, Bleam Nav... Co. det P&Bleam Navigationi def and
d
Starts
„Great <Unlygraal Stares" "A"-4
Marks Bences, jul 10:40. Wolworth F WE Comdis 15. Conta 3. & P Llamas id. Courtaulde Gids Tha. Anglo-Amstloan . Coep of: South Affiestory, di car.
COTTON
· NEW YORK ».
All prices in cents per lb.
July Oct,
Dec.
AP
July
Ock
All prices in echte
Epot
54.00
38.50
22.99
Though the pendulum in wholly: In Labour's favour, the Cons Goldßelds of Bouth","Africa— social and secular. trends in The 10.
Ces Line Corp; Ord-842, 96, 1 Conservatives favour......... of 'the
From Binte Development & Invest- mike, them rather, strong favourites to moore the unpres mensis d
Hongkona cedented, hat trick, bada qulie kalythe Blacreed, ninjority which would bidang that the
Union
BINGAPORE
All prices in Straits cente
| [b, Lobụi Malayan ports;"
No. 1. June
July
No. 2 June....
Np.. 6. Aynin
Spot, rubder 'unbaled glärket gespeči No.1; paje, creneur
MANLONDON
All prices in pençe
settlement "tipura term:
Tin pet 3403 | Janonth 24,47|| Cupper rpot
3-month
| Benenley-ing, gr
Best Paper... Sinclair 4**** Buyer Sellers | Bmith, Cilise French,
20014 201
234-14. 135
June
80%
FL
348 Zine at half June
31.13
JEWOF SURYAM.
FOREIG
UFI.“
ENCH UNGL
-NEW YORK Closing rates; be
England official,
Pakistan
Sucony/Mapio Bolar Alteruk je Bouth Puerto Rico Suga Bauchemi Co (frite) dec Southern National Ga Bouthern Railway (Com.) Standard Brenda Standard Oor-Cal Bandard Cil of Ind BiemandOI-62.N.J.
Steep Rook (Taronta Zage.) Barling Drug Co,
Siobely-Van Camp
[RADÍ A Webster
| Budebaker Packard'. Corp.
Munshine Mining, an Bwift & Co..
-Texa, Co
Thloket Cheri *Kids Wear Acars, KH).
¡