SCIENCE AND
* THE CHINA' MAIL,
MONDAY, AUGUST 3, 1959.
Weekly
Survey Of American Economy
ENGINEERING STEEL STRIKE CONTINUES No Prospects Of An New York Industrials The
Early Settlement
Air-Freighting
Fresh Fish A AM Thousand Miles
ALUMINIUM fish trunks produced by a British firm are helping bring fresh deep sea fish to dinner tables in the African tropics a thousand miles from the sea.
Water-tight, light-weight and trunks almost everlasting, the
were developed by a UK A
to enable the Societe de Peche Maritime du Congo By Beh al
ECONOMÁL rates to markets far
inland in the Belgian Congo.
Overcome
The ashlinit company, formed In 1850 as part of a programme. of development and to help serious protein de- felries in the diet of the focal inhabitants, had increased their entes from 60 tons in J051 4,457 tons in 1957.
Then they came up agaiıil sveral major obrtach
preventing then spreading their markets any further adeid than Leopoldville, 250 miles from the coast,
į
New Electric
Golf Caddie
NEW 3-wheel zolf buggle, manufactured, by a New- market firm, is powered by a 24-volt battery and is capable of taking under good con- ditions, two players and their clubs over 30 holes without a recharge.
The front pension features a leading link easy sleer unit with twin Telescopic shock absorbers,
The transmission incorporates twin universal joints with in- termediate cardin shaft and drives through a silent reduc- tion
type A car gear into differential back axle which is used la
to eliminate damage
Control is simple by means "cole of two pedals, One operates Lacking the neeossary chain" of freezing plants across the rwilch gear through, the the country,
impossi-heavy duty Rolehoid operated It was ble to freeze the fish for the witches, and the other the applied. slow rail Journey inland in the drakes which, when tropical climate. It was equally cut off the main circuit. There Impossible to dispatch the fish brakes are positive, being of the unfrozen by rail and experted internġi, expanding hub type, it to arrive in edible condition, and a hand brake is used for The allermitive was to send the parking. fich by nir. But the problems here were the high cost of air freightage on the enveational wooden Ash trunks and the need for trunks that were water-tight, would not fout the planes and were easy to handle, The answer was provided by the British company who pro-
The charger rocket on the duced in version of their conven- front leg shield is easily acces tional plumbulum fish trunk made sible While necess
the completely waterlight by weld-batteries is by lifting the scat ing of all the holes and joints base. The motor cowling is and so light in weight they instantly portable and the cdded Butte 10 the freight whole body's hinged at ine charges.
back co that it can be swung up to give immediate access to The whole mechanizm.
the course,
to
Self-lubricating bentings are used In the -steering with rubber bushes on all active parts of the suspension to climinate all maintenance of the front unil. However, the complete front cowling can be removed in a matter of seconds
Now, with 2,000 of those special trunka delivered from Britain, Societe de Peche Mari- time du Congo are able to pack their deep sea calch in lee pro- vided by their factory af Ango Ango, about 100 miles up the Congo liver, and dispatch it by air to arrive in fresh condition for sale at economic rates as far nfield as Lulumbourg, 700 nitesand by slackening three bolts from the const, and Elisabeth- the front fork can be withdrawn villa, moit than 1,000 miles from the mouth of the Congo River. The Belgian Congo is not the only oversens country that has turned to the British company for nolution to Its Ash
ง
freight problems. The company bave ment 10,000 of their trunk to Uruguay, 3,000- to North East Fishing Industries Limited of Newfoundland and others to
South Africa
and Iceland. They
currently dealing with enquirie
Trum several other countries, Ina, and many thousands of their trunks nre used by British fishing com- panies.
are
completely.
buggle when
A Terylene cover has been designed for the it is not in use and a Jight Trailer is to be made in order to facilitate the movement the electric caddie to and from the course,
[Electric-Caddie Ltd, New- market, England,]
SONAR WATCH··
CHECKING
vi
New York, Aug. 2
Total lack of any prospects for an early steel strike settle-
ment, further lay-offs caused by the walkout, continuod record corporation earnings and a slow-down in automo- bile sales presented a mixed bag of economic nows last week.
D
A threatened parallel strike in over the past week despite the same period of 1930. ' Im- Another metai industry-Wednesday's renewed appeal by ports, on the other hand, were aluminium-has been averted President Elsenhower that the up 224 por cent from 1958, when major producers and the two sides works cal "non-according to the American Iron steel workers unlon agreed to inflationary" agreement,
and Steel Institute, an extension of present сол tracts. That took some out of the walls of these prophets (amilated industries. of gloom who were beginning and Ohio railroad announced it to see 1950 as a bad strike year, will release 1,800 workers at the
end of the week.
wind
However, the absence of any real effort on the part of either
side in the steel dispute and the Jeisurely schedule of their meet-
only bore ingg
out earlier predictions of a long strike. Steel ordor books were alrendy beginning to bulge. Expert estimates showed if the strike were to end in two weeks from now and there was little inselthood of that the industry would have enough orders on
and to assure rate of $3 per cent of paelly, for the rest of the year.
an operating
Full Copacity
Continuation of the strike for another month would mean that the industry would have to go at virtually full eapacity around 95 per cent for the rest of this year and possibly
the order backlog.
The walkout continued to hit Baltimore
However, confusion prevalled Ar to the exact number of those laid off as a result of the strice.
Slackening
behind
1
Rising. Imports
The
Was
general confusio that rising foreign steel Imports were here to stay just like the of foreign cars high imports and had very little to do with the strike,
Cotton Main Feature
Market
Review
New York, Aug. 2.
On Wall Street
An air of stalemate settled over the cotton fatures market this week with prices edging irregularly lower as the trade
and 27 The industrial average closed for all equipments, awaited
overdue ап
on Friday at 674.83,
per cent for oils, A group of A level expansion of the cur- | nover before attained. That 420 companies of many fines had a gain for the second rent crop movement.
quarter of 76 per cent over tho second quarter of 1958.
New York, Aug. 2. Industrial stocks furnished all the excitement on
the stock exchange during the past week by setting new record highs in each of the five sessions.
At Friday's close, the 1st ruled 15 points lower to three points higher, or down 75 cents to up 15 cents a bile from a
PRICE FIXING.
sitikt was Experts said the merely speeding up a process 1 week eartler. that already was picking up momentum for a simple reason: Foreign steel makers are offering was lower prices for tho same
parlcularly quality, specially steels,
were
in
Some examples: Italian-mada will sleel transmission lowers begin arriving in New York soon for assembly along a 150-mile
Ntobra Fally between Syracuse, New York.
ard
WBs up 11.10 points on the week. It was up 31.28 points or 4.0 per cent for the month of July and up 91.23 points or 16 per cent from the close of 1938.
It showed a gain of 337.18 paints, or 94 per cent from July 31, 1920, and was up 608.75 or 801 per cent from the close on Jan, 2, 1900, the first market of the 20th century.
un
The poorest showing was la aircrafty which declined 61 pgr cone,
The market appeared to Ignore steel strike news on tho theory industry would catch up with postponed operations once #teel
to workers returned their Jaba
TOTAL SALES
Sales for the week totalled 15,060,048 wires, a daily avor- age of 3,013,809 shares daily. This compared with 14,783,280 shares or a daily average of 2,857,050 in the previous week.
July totalled 70,880.423 shares, against 64,- 351,128 shares in June and tho best July figure since 1033.
for
Even an approximate catimate was made difficult by the fact
Price fixing and trade buying. that part of the layoffs
appeared well interspersed with caused by the seasonal rummer
light hedging and liquidation alackening of pace. The beet
OTHER SECTIONS during the week, resulting in that the tayoits, directly due to figura available was
mixed small and generally the
Other sections of the Ust had price movements. News de-
Rails strike, so for had not exceeded 100,000
187.80 About half of them
velopments were of insuficient minor going this week.
0.11. were railroad workers.
importance to have a marked closed ot
Utilities 89.00 up 0.36 and the effect on the price structure. An Interesting sideline to the
05 stocks used in the three steel paralysis continued to bo
The certificated stock of col- averages were 223.49 up 2.44 the question of imports of
The Goodyear and Firestone ton at the weekend was down points and a new record high. Statistics
11,614 the
rubber and fyre manufacturers to 11,507 bales from actual
Sales The mah mataining force foreign steel. logging
have turned to France and Bel-bales on July 27. The Agricul- picture. The Department
figures for glum for certain types of wire ture Department fixed the mid- for the list was a batch of re- Commerce released
Jusly parity price for cotton at ward high earnings roporis for for
reinforcing. tyre imports of
505 38.05 cents, unchanged from a Myriad companies, which May showing that
Warner Appliance Manu-
on the steals and record
month earlier foreign steel set a new
facturers
and compared emphasises of Chicago are ex-
Sules this week crossed tho olla.
half billion mark for the year abovo
and finding thens "up
The
After Standard Oll (NJ) re- and at the end of July showed week, Senator During above domestic quality."
a 27 per cent riso In a total to date, of 813,003,162 Strom Thurmond called on the parted
the Arst half, a shares, most for the period im; earnings in |administration to grant Unofficial, estimates put up the
developed for since 1830 when the July 31 total figure of steel imports
mediate relief from imports to bettor demand
total stocit at 547,010,500 shares. the oil reation. induntry. the domestle
MIN experts but
of U.S. steck The steel importa trond and officials pointed out to the Com- abroad declined. For the st the
Bonds again showed a firmer corresponding decline of nerco Department that foreign
toma with the Alve months of this
Dow Jogca year. U.S. US. steel exports are licoly to mills got their cotton at Federal efforts to settle the steel exports were put at 850,000 strengthen the hand of the steel 25 per cent lower price.
for 40 representative averago Issues 10 high grudo rails, 10 from steel strike appeared slackraingtons, down, 37 per cent
companies in the current strike
scoond grade Talls, 10 utilities talks. The management
and 10 industrials at 83.37 up claimed from the start that an
0.11 point. Income rail bonds "Inflationary" wage increase to
rose 0.04 point to 70.99-UFI. workers would result in raising the current 150 a ton price average and might price U.S. steel out of the world markets.
into oarly next year to clear up that month with 385,000 tons-perimenting with foreleta steel with 38.55 cents a year ago.
It was generally believed that steel users who have not placed orders on the companies' books by now are going to find it ex- tremely difficult to obtain ship ments when the stoppage ends.
tons
This was 25,000 April and 206,000 tons May 1058.
China's All-Out
Drive On World
Textile
Market
:
Washington, Aug. 2. China's all-out trade drive in its "great leap for
ward" programme has had considerable im- pact on the world's textile markets.
Strike Talks
to
EXPORTS
a
On the export front, a White Houso report said $14,000 bales. were shipped un PL-480 in the Arst half of 1059 with a markel value of $84,200,000. Also, the Export-Import Bank loaned The Steel Workers Unica | Japan $30 million to finance ex- countered that steel companier ports of raw cotton to its tex- profits are so high that any le industry for the crop year wage increase oun cailly be starting today.-UPI.. absorbed without Biking the marketing price of steel. Union's haud was strengthened last week when one steel tam-
with record first-half
out
any after another came
entnings reports, US. Steel Corporation
the largeal-was éxample.
K
typical
for The Agriculture Department's (Anance Industrial expansion- UB, Steel net earnings Foreign
Agricultural Service China's cotton textile industry tha' first half-the largest to: (FAS) estimates China's ex- has two important jobs to do any steel'company on reccd-. ports of cotton fabric alone in overseas. The barter of sale of
were $254,943,490 (or $4.50 € 1958 at 450,000,000 yards. It its prochsets helps finance the common share) compared with said the possibility exists that, qubition of the raw materials | $185,650,790 on the first half of should Communist China
and machinery needed for in- 1958 (or $2.29 a share).
Thos dustrial development, It also profits were about 10 per cent aks in the economic and political of sales, tries. penetration of free World coun
so
I choose, it 'could enlarge its ex-
ports of raw cotton as well.
To the United States, the drive has in- portant implications. First, for Its own cotton textile makeus;
Swiss scientists have developed Chinese textile n system for using a ponar-ko device to measure the ticking of
freezing and cooling troys for of the clock should be under- the food industry.
taken.
The device can even perform (Heston Equipment Company control check on watches which Ltd.. 1 Buckingham Palace
are already wrapped in their Mansions, Buckingham Palast shipping container.
Read, London, S. W. 1.)
THERMOSTATIC
SPRAY PAINTING
China's
hos production
REPERCUSSIONS
Stool Earnings
Steel shares responded to re-} cord earnings of the biggest com- [spanics and, reported, spots in mveral sessions, Ticir curnings us a group rose 75 per cent för the second quarter compared with a year ago, a Dow-Jones survey showed.
+
BRILLIANT GAINS
That tabulation showed many other, brilliant gains-523 per 'cant for textiles, 300 per cent for autos and equipments,, 163 per cent for all stcets, 149 per Cent for railroads, 103 per cent
Firm Undertone Prevails On London Market
London, Aug. 2.
With half the stock exchange's investors on holiday and the other half thinking of holidays 'busi- ness has been very quiet last week in the stock markets. But the undertone all week long has In anamaneing the earnings,
been firm. The setback a fortnight or so ago U.S. Steel spokesmen made wo
blew off most of the speculative froth and re- significant comments: The Communist Chinese trade
prices 1. Pledge that steel
cent industrial news has been good enough to drive has had repercussions will not be increased both in U.S. mills and on farina, voluntary" settlement of the
suggest that prices may well continue to rise. according to the department strike is achieved, that is one
Transatlantic slocks The revival in the gilt-edged In 1953, U.S. exports to South-not imposed
by any matside
despite the cast Asia of all types of cotton body;
markot petered out, chiefly be-neglected, manufactured goods came to
cause government issues are highs on Wall Street, and they $23,000,000 and represented 12 2. A siatenient that the still very firm and over the were mostly irregular to easter. per cent of the total.
foreign strel
weck the rise imports were
amongst these issues had been 3% to 1%. creating a "serious situation."
SELECTIVE BUYING
in
there
WARNI
new
Wes Was
Activity In Cotton Goods
New York, Aug. 2. Activity in cotton goods
was
limited to checking prices on goods for de- livery in the first quarter of next year. Buyers found prices strong with mills sold up to the end of the year. Trading In cloth for spot and nearby delivery was necessarily limited.
Cotton yarn mills reported signs of new buying interest
for for-
beginning to develop ward delivery.
Demand for synthetic fabrics was In a ocasonally low but prices continued strong.
L
WOOL CROP
Although their Arst coul is higher 100 that of the froditional wooden trunks, the a chronometer. The importance Docond, for fo row Colten - aluminum versions repay the of this Hes in the fact that it is
markets, both directly shd inilla) outlay many Umes over not only
more securate than through the effect on the textile by their incomparably longer previous measuring devices used markets of its raw-colien is- life, their savings on freight for this purpose, but also enables tomers especially texile in ratus, the case of cleaning, and the watch to be regulated with
porters-in Southeast Asia and Cisowhere. the case of handling, the manu greater ease and precision. facturers say. They pre
The chsence of the operallon described as suitable for many of the device depends on the
PRODUCTION other commodities and can be translation of the watch tick into
U. S. Agriculture Depart- provided with
"lida. | timing data which is projected on lockable
China undoubtedly
ment estimates that 1959 chorn Nomes and trade marks can be to a screen. This visual record-
wool crop at 231,929,000 pounds embossed during manufacture, of the timing data enables crcured its cotton
U.S. shipments of raw colton They cited plans of Japanesy The same firm also manufactura le engineers to determine what but the Department does not also have been affected, for the stoel interests to build
or 10 per cent above the 1949- a steet
The most significant event in know how much.
Prices were strang adjustments in the mechanism
The market industrials had 57 average, the glit-edge, merket, this week requirements of some major pipe distribution warehouse
particularly irregular. was the closing of the "tap" in been
us a result of the sharp ʊptum In wool original cotton goal B. customers have been re- Houston, Texas.
claily the conversion 5 per cent issue. What buying
production. Most milla have for 1058 was eight million bales, duced through China's cotton
Bold up their Bethlehem And Republe leaving the government broker highly selective and the Finan third competition in
output for the remainder of the Under the "great leap forward" exle
and third without an officiat "tap" stock cich Tilce index put on only 14 markals.
The trade here expects This particularly Steel, the second progantne, this was raised to
followed
was on the week. While the domand year, wit withto, affer, and this action 16 milioni China cinimed it true of Japan -largest single largest, produced 16 million bales that market for U.8. cotton since similar record earnings reports. taken by inny to Indicate for stock has been, modest, the higher prices when the Aus
other oficials 1040 — although, of course, All year. Department
Belds of the U.S.clearing of the decks for the amount of selling has also been tralian season opens in Brisbane
prices. have Aug, 24. doubt this. They said it seems China's textile drive is not the economy showed first half-year new insue which will be neciled mall and where unlikely a major year, from a sole reason for the decline in gaine.
The past work saw Brillah. General Motors reported to topinte the £302,000,000 three dipped the cause has generally level that already
sisal casing another 3⁄41⁄2 ceniz a had called Japari's imports of raw cotton. net profits of almost $800 million, or cont War. Loan to be re been lack of business.
the for greht effort. Designed mainly for use bý
Commercial, television shares round with Brazilian grades second largest half-year deemed by October 15.
tikco been depresied. Property eft cent per pound. Phiikepine puiniers
Japan's entire economy de-gain on record. n the maintenance. The 1050 goal, even more pends on
BUSY JULY foreign; trađe, und
thirés are still distrusted. The hemp prices continued to izi staff of a factury, a new spay unrealistic in the department's cotton goods have been most
boom in consumer durables. still crease as a result of reports
Manila painting out, operates on the A light control system which "nitiess principle.
view, in 23 million bales. But Important in its trade pattern. Agure for the first half of 1950.
Indicating that continues and is helping shares from showed Actording to Agures listed in these compoules, Steele sul production was falling to a new measures daylight and balances In the airless system otomie it is agreed that China has Ita total cotton fabrics exports Westinghouse Kiecizie. it with electric light to provide milon of the paint is achieved sharply
increased ita cotton moved
1952 first. half-year camings of ove: by the Midland Bunk, July was continue a good market although low.--UPI. Byward from
month in the interest has declined. Engineer- thaugh 1997, but fell back 184 millions compared with just he bustent
The Capitol market since February sharply, in 1958.. Ce reason under : $30 million for
1953. The amount of new capituling, textiles have all had it good weck. The chief Irregularity has for the decline was competition similar pertod a year agħin Tuinea in July wat £53,197,000 bem amongst the blue chips, from China, the Departament Car sales in July toned down In the last seven to the this Stores have been a centre of One major purpose of the in been competing with quality Detroit recent optimim about year the capital, market raised interest and prices varied as
hild recently that China? had user may set by disi' for the For this reason, the/new unit erches could be the ring tex:" desired number of foot+candles, is claimed to be particularly
takeover, talk continued. plus; o photo-electric `zennner | suitable for imaintenance work tilo demands of a population of cotton goods, rather than basis total sales in 1988, Dally valca | £401,304,000,
this month have been running the foreign bond - fåtket (ac American ** buying -- through
London; Aug, 2. which is mounted where It can in ships where routine work can 050 million people Another commodities.
at just over 17,000; Andiealing.
a whole had been quiet. There Johtivating coupled with a best monitor the lighted area.
The Bank of England states continue without Interruption main purpose sould be to pay
a July total of under 40,000 web continued speculation in potage of stocks here coltsed munt for the Week ended Jul economie.
COMPITITION The scanner
the and without fear of work and for the country'
conpared to Jüng measures
contaminated development. FAB said the
584,000 units,Originally hauds early in the wock some prices in the kamit market 29, reads be follows: amount of combined daylight materials being
whicte lurried-later::fa) pront- ] to run away, particularly West cotton textile industry in mich and artificial tight in a room and with point;
The Department reports others gulo Industry forecast sales of taking and unu Khich wase mere Driefontein; át Helena and City The unit is mounted on a small to have provided more, thần Bộ rolays this information to a algia system which activates four-wheeled truck and is muit per cent of the industrial into feel China's competition in 5.8 million US made one for than lost, Affuse and of the Deepe motor-driven variable trans-ble for applying all standard form that either brighten or decorative paints. Developed by dim the lights. Made by Thao T. C. Spray Finishing Systems Superior Electric Co. of Bristol, i (Bede) of 81 Jones's Place, Connecticut, U.S.A.
London, 9.W.1.
LIGHT CONTROL
A constant lovel of om by direct hydraulic pressure production.
illumination is to become avail-instead of by able in the United States;
compressed air
and is claimed to reduce loss of
The system includes a wall-paint through overspray to the mounted" "Laimistat" which, tho || absolute minimum.
יי י་
RISING DEMANDS
It was almost double the hot
!+
Bank Of England Statement
Noten in cirqulation ; Pubillo Deposita Priveis" deposita
vestiment funds, syailable under i wedo' Thâm, le train hak, traz | J819) On" tho:bause of the-very week talk of a debt wattleHTRAY There was a revival of in davinment, recurțiles.
China's ftrat dvo-year plan..
Beside the hombront job
alling textile zvede and helping
mont Juno showing the indenter | false near with - Sövlak, kürklä
ditional big hätkata 16 MAJAPA, 183eed a this intimate by toma caused speculative Luvin E fatores in vil stueres on better. Our wurities rodonesta, Hongkong, Challand 200,000 und 5a luky smart Iron Curtain sinus, periculbs) sarongs by U. S. all consoantes. Fosp
did not bear this out UPI.
-UFL, " i and Ceylon,-UPI
Humandan and Baltic bonda
FAMO