Page
THE CHINA MAIL, THURSDAY, AUGUST 20, 1959.
THE WALL STREET CRACK
Recent Setback
Exaggerated By Publicity
London, Aug. 19.
The publicity exaggerated Wall Street's drop on August 10 and understated
the next day's rally.
London Closes Higher
Despite the ostensible sharpest daily drep since 1953, Woll Street still fads to have oven real technical correction, alone a major setback,
HONGKONG Lower But Moderate
STOCK EXCHANGE
Basines done on the
Exchange kong Stock morning amounted to imately $1,004,000. quotations Franmetions;
Tox- Noom
New York Market
Electronics scored a smart recovery
to feature an otherwise Tower,
Late buying brought the General retric
Whele market
المالية
General Foods
General Motor
Gen. Puts. Uti
Gen Tyre & Rubber
Getty Oll..... Giden Co.
Crusiman Aircraft
sharply long-from its lows in many instances, this but losses ill outnumbered
drelines at the close.
Texas Instruments, off almost Goodrich (D. 7' co four at its low, met strong sup-doodyear Tyre... pori late in the tension and wis up as much as seven near the close before backing off a bit. Zenith, Litlon and IBM staged dramatle reversals and finished sharply higher.
halved its Du Pont
five points al
and the morning's
Jet
Shares BANKS HK Bank..
INSURANCES Union Ex-Lombard
uyers Seller
IGU
Sales
031 873,
40
4039 0310
DOCKS, MTC.
But Wall Street, and even Frankfurt, have not acted well the London Stock change.
Speculation
The Led by sdoels,
Kreat speculation on the election res sult, London industrials have retinced to show their extreme attractiveness to both home and Foreign mamy now that the odds on a Conservative win are com- monly (and probably rightly), naught in be lengthening.
SHIPPING Wireieck ..
K. Whart.. 102 Dark
44
431%
Provident.. 13.20 23.40
Talki
...
LAND, ETC.
11234 33!
JK Batel 230 24 60
al36|| Huseman Refrig
loss
Idaho Power Imperial Qu
which ran past
Int'l Business Machine the low, Moton, druits, some Int Harvester
of steels and metals, and a num-International Nickel ber of specialles managed recoup part of the losses. Rey-Jon-Manville Co. nalda Metals turned point loss into a gain of more than two points.
The rails were weak all day,gest tryers Tob. Co.
and
Atlantie 'Coast Line among the big JoseÉS.
Now York, Aug. 19. late in the session today moderate stock market.
781% + Procter & Gamble to
Pit(burgh Pinle Glas
Publieker Industries
Pure QB........
Radio Corporallot
410
Saint Aircrafi
594 Smil Cine & French
Soucy Mabit O
oli Full Puerto Buy Swar 34x4 Sngthern Co.)
Southers National Gas
B2 Southern Iinilway ¿Cara
12:21
Siego Fuck
Sterling Dag tu.
Stokely-Van Canit. Stan Webster
Studebaker-Packard Airp
174
201
47
51
TRANS
TATION
Britain Warns Airlines-'Cut
Fares Or Else
In September at Honolulu the World's Airlines will
ས
be given a clear and blunt message from Britain.
That message
says-and it slash European fare rates, and I says it with the authority of the rees no reason why it should Fur- British Government-"Let there not be allowed to do so, he chraper air fares, or Britain thermore, it knows that if it will probably 'Go it Alone." does this, then it will attract the custom of whole new seg- This challenge to the Interna- tional Air Transport Associationments bf the present automobile (fir Association of Airlines and bus using public and would which controls international air ploncer the mass air travel age. Iares) was thrown down to the BEA is determined that Ita 4 House of Commony by the policy in choosing the Vanguard British Minister of Transport to top this new rich lod will not be frustrated by other car-
Da
201 001
2112
Radio Corp. Ther.
43
Raytheon
1812
1235
(tepublic Stref
7414
Iteynolds Miet 11
23
Royal Bank of Canada
0142
111
Sears, Roelnick & Co.
457%
Heyden Newport Corp ginestake Mining Cu
Shell Oil Co.
Safeway Stores
Saint Heg. Paper
61%
401
Shenley Inc.
Ingersoll-Ran
CO
Scott Paper
Inland Steel Co. Interchemical Cor
inclair 011
to
International Paper Intel & Tel
#t
Dill
Kaizer Industry
Standard Brands:
15
Kansas Co. Power
&
'Light'
Stendard Oil of Cal.
Standard O# of Ind
Keinocuti Copper
103
Standard of N.
Kimberly Clark
GU
Lillen ind,
14
Lockheed Aircraft
27
Loews Incorp.
30
MEDEEMED J. Huy
Lowenste & Bon
Le Star Cénient Co.
7
McDonnell Aircraft
Alésati! Iron Corp.
33
202
14214
Tosol Chem.
Tide Water Asen. Ou
2
5351
Kimion Development
42
361
Monsanta Chemleal,Co.
T-Cont
Warrants
33
Montgomery Ward
15Hz
Motorola Inc.
National Riscult Co.
63
Twentieth Century Fox Whn Union Cartéde
14
341
declaration
words unusually forth- right for a Minister making n Mf
pulley-have since been studied
National Casti Reg. "A
Seton 43 of Cal
43
by the Traffic Chiefs of every
Material Dairy Prod.
Union Pacific Radway
#13
20
National
બર
*
National Steel Corp.
Venest Fruit
223
G
New York Central
27
Uuded Gur Corp
Nords Mines 340.
$1
11.9. Þ×3 "R"
13
Norfolk & Western Ry.
91% 4.5 Gypsum
102
North Amer Aviation ......
ÜR. Line Co.
Nouthwest Aleimen (Chin i
351 Flubber
61x1
Hin Mathieson
5014 15. Stoelting
Ols Elevators
781 18 Sunel
100
119 Steel 1 EC PF
Oxford Paper Co.
287
Warner ro
40%
elle Elec.
Waukesha Muta
41%
KIN
Tan American Airways
24
Westingheure Air Brake
31
64
Paraundunt Pictures
43
Wordinghouse Flectric
Parke Davis Co.
44
| Western Union Tel. Co.
201
Denny J. C. Co.
100
Winn-Dixie Stores
Alle Cons. Mining 31-14a=1{2}}},
112
Per Salt Co.
| 2045 | Wentworth (K W.)
1x
3813 | Zenith Radio
10315
Baltimore & Oldu.
437
HR and 31 366 0719 & 30s with Norfolk & Western
Eitemap:rey 16.00
XD025 1.375 Really
RUDBER
Wall Street is not helped by Amalg the steel strike and by fears of
rots in defence spending if the and war thaws.
London, Aug. 19. The stock market closed higher today under
of the impetus optimistic government economic forecast. Infundvita advaneet brogol frunt bed by stood shares. Steel hoonest at the opening and despite rabrequent pront- tok ini hen with substantial escor
CATE
... Desay
TRIN Sterling continues its unsea- | A. Powah". sout Amness, which is in-
UTILITIES reasingly uitibuted to the
Tran jover-valuation or uncompetitive-Yammali
C Ligh mrs of the dollar,
Oils were mised. fold locks alone, before counting att were metly Erm.
Gilt-caged recurities
Lon-
1 in demand closed
Falster,
were
Forvigu bunds getly firm. Dollar stocks were lower in sympathy with Wall Street.—-UPI.
Closing Prices
fittedged tends
Hotel Tumpurt
*
Comel 91% 25,
Conversa
Forkli
th
Furling Stonk
£73-176.
19KZING -
s
1.
r
..
1939789
Sp6:17ZERKI -
1960/!
Fiawdust Ban 4
Savines B
1953,45 CRO«13/16 Swings, savio DR, Savons tri, 1905/75-15 14.
CITY LIGHTS)|
One hint of a atorm und
they huddle togth, like
a lot of brewers i
bandon tapaan 342136
Banks
Various other deficits,
Comments
2014
Jonno 60 155
173 or 3.05 15000 2.073 403.075 5000 3.0 10000023
4 † 123 TORX 40 +
700 29.70
3500 4 18.30 500019 20 1500 t 16.20 Fat 20:00 PŘED 6. 29,20 1500 or 29.20
15.2 41
Today's volume was 3,050,000 slures.
Closing Prices
Abitibi T, the pupuit
Alden Ine. Acy,
Algoins Steel Cora
Allied Chemicals
Allis Chalmers
An. Brake Shor
Amerloan Auline
Anierte L'able & R
evaraamid Est Ameries C Ainet & Foren. Tower Arm. Gas & Electric Am. Bone Pradh
Am. Mucts & Purs American Metal Am. Naturl Gas Amorlean Smeling Am. Sugar Her. American Tel & Tri Ameleon Tah. "I Autrunda Comper Aimer Stret 025170) Army
547 34
31415
20.78 113 114 1120 15.30
In June--for the first lear siger 1950 when try pouring into sterling- the United Stter had a deßeit on trade in
WIN
tel: de
20 del 20.30
Maca E 'TEI.
10
28 40 2817
INDUSTRIAIS Cement
Metal I
STORES, ETC Dalry Watson
.....
100
1. Craw XD Kwong S. 1. 144 COTTONS Textile..
BpS 2000 Nanyang
10 10.30 MISCELLANEDUA Vine_1320 13.00.
30 24
8.30 1641
17.70
21.30
G4S
6.70 4.65
འ.hi་
4.05
11.20
The week has brought the usual hatch of cornrients on that 34.0/ku,
Typically, Chase - Manhattan: Bank remarks that the usual comparisons "based on official ¦rxchange rates" greatly under-
size estimate v
of Europeikt? INVESTMENTS markets
191 invest Allied HK & FE
Invest
12
American General Electric re- paris that various improvements. mude its price cuts possible "just
competition, fican foreign manufacturers with lower labour and material custs. mate them neeessary.
Westinghotse
Blectro mays new competition may alter its policy of not having wholly owned factories ubrand.
The Federal Reserve Bank of New York admonishes that the overall price stability of Live part your is encouraging but no euse for complaceticy.
GO
Agreed Merchant
Rates
Canadian Dollars, Maximum Selling 10%; Minimun Buying 16 T.T. 10 13/10 O.D.
West German Deutschemarks 7234.
The Bank of Nova Scotia's lengthy review of gut and international liquidity is inter- esting, if only because that bank callaborates with Samuel Mon- taga of Londen in arrangements;
facilitate private investiment 95 dollars per $1 gold bulliam.
Exchange Rates
Conclusion
Its general conclusion is that Thongh the possibility of a higher gold price cannot be ruled out, the man tiention is towards other methods of
Improving international quidity,
1 remarks that while the revent loss of gold does not by itself provide a basis for re- dured confidence in the dollar ja persistent and extended decline force Wash-
clay's Bang "A" Lad ond-5thy might eventually
Pintered Dunk - DN.
1.- £54.
Insuraner
Carton Inn Capton-£55. Aircraft and Motori
But Sutur
4.
Corp. Ord-17
Ford Motor ConHis &.
Ureteries 12v Chests 1990 ad
Buliding and Materials Aeroplated Portland Cement--55. Plachin Juhtisin Arseelates Ord-
Coal, Sleek and Engineering Babek & Wilcox Lid- Dyd. Vickers Līd-32% 41:41.
ham Tobacco
British American Tob, Co., Ltd-
575 1
SKL.
--
Ingenal Telicen
Ca..
Ltd--578
Miscellaneous Beardman Marien lad-3 10. Briti Oxygen Ltd. On- . Camelian Victtle Riy---$51 15- Dunlop Rabber - 24 Dat Hankung & China Gas--Jás, Imperial Chemical 34% 100. Evin & Co--Tâm [útur. Unilever Lad 110 in.
Radio and Electrical Aneinted Electrient-23% fel. Flextrical & Muriel-Gim 31.
allah Electrie Chou the ch Generic Eleriele-357s Dd.
Shipping Un-Chan Steam Nov. Co. der
-20 P&O Steam Navigation def ord
Stores
Great Universal Store "A"---4
$150.
fud,
Marks & Spencer Ltd---50s Woolworth, P. W. & Co-2 k
Texiltra
Cool J & p 10-239 14. Courtaulda 121-409 4120.
Anglo-American
After-10 31
ngton to take some action ย Increase its reservus of gold-
that "the present almos- phere of inflationary tears crxi
the some questioning about
strength of the
Eriollar abroad
United States would certainly
not be propitious" for doing it by removing the internal
festive requirements.
Gold Drain
gold
tank of Montrend Benefbx Aviation Corp.
Bruet Con
Bethlehem Sterl
Bring Airplane
Highs Ad Machine
Brit Ainer. Oll
Packing Cory
ARC
Can Bk. of Comm.
Pan BrewTETE
Campbel Soup Cel
Kenndian Pacifle R
Cve 1. C
| Cal. Tractor
|
Celanese Facial Pore CTT.
Canbul,
Chrysler Motors
Bansk
Cluelt Prabody Cobian Carton Co. Colgate-Palmolive Co.
Commercial Credit Consulted Fellon
Cousinental Oil of Del. Crane Ce........ Cor Zellerbach Cubs Anter. Sugar Damen Alkall
Daund Garú
Domteton Stores
Douglas Alrera!!
Dow Cheniens
Dupa de Kernows
in the legal | Eastern Airline 1399
was une milelant exchaner
market
This Eastman Kodak morning at the following rates:
Sterling aptes per AD Australian solusi (per el... Indonesian rupist (per 100).. Sam Deals (per 100) Shatapote (Stents)
El Paso Natural Gas 5.54 Family Pmance Corp. 1634 | Firestone Tyre & Rubber 12.01 First Nat. Cy Bank
24 Ford Motr 20 33 1.03
corgi Parfe
Yesterday's Closing
General Dy'TIAVNICA
Minnesota Mining
#2? Owen-Hills
44%
24=x
Pullip Morris
Pitney Bowes
314 Iste Biling
SWIT & Co
Txon Co.
334 Textron Inc.
246 Time Inc.:
120 rited Ameral
3312
קת
Enlargements Of Britain's Reserves Urged
London, Aug. 19.
and Civil Aviation, Mr Harold Watkinson.
H
riers whose equipment cunnut mintch their own.
Government The North Atlantic Examples
.ך.
1 is likely that the British
major work airline, Privately stand on this issue will succeed. They have been left in no doubt | IATA that on this issue Britain really means business.
This is what Watkinson said: "We believe that the world is doing itself out of a very big rise in atriine passengers by the refusal of IATA to
method have a sensible reducing world aircraft farem. Therefore, I want to say, with rup- the Government's rull port. that DEA and Hose and the Independent airlines wilt 50
to the IATA Con- ference in
September deler-
cannot withstand ansjor defections, as Pan American proved when it forced through the first tourist class fures, In. similar situation. a somewhat Britain's ense is stronger than was Pan Amis, because Economy Class fares have already been allowed in the North Aijantie- the traditional "try out" route for new Ideas. Today,
all Atlantle 05% of travellers buy the cheap
Inside Britain (where tickets.
somu
air
rato
no IATA sanction on fores is needed), cheap rate Viscount
services have paid handsomely. British Independent Operators
over
ruined to press for a reduction in fares. What they want is a fare reduction on the Euro-have for years, been filling to Eastern capacity Viscount services to pean. African and
Central Africa, and on other with all routen, and I May
Commonwealth Toutes seriousness that 1 hope
which IATA has no control JATA will approve this
Zare Britain knows the cheap proposal. If it will not, we
market is there, and that it can shall have to consider what
be made to pay. The Vanguard can We
do in aur OWN
gives it the opportunity to go cabotage area, where matters
even further down the income are still under our own bon-
strata in its search for traffic. trol. I say that if we cannot
At the Honolulu conference, get an orderly reduction by IATA We shall have to do the best we can with our own resources, AN well as
IATA."
Britain will not be without alles. Inake the U.S. (which I also not subject to IATA con- on its domestic routes) trol considering our position irominent members of CAB
(the U.S.A. authority) have strongly in favour of cheaper
A report on Britain's monetary and credit system
today pointed to the shortage of international reserves and said the problem should be met not by an increase in the price of gold but by making better use of the international inone-impending ruw? What precisely tary fund.
But
total international
-יין
30 The report stressed that the na problem of International serves were now much lower la
Tipicity would have become relation to the value of futer
the largest acule f
creviítor | national tramastons 11. 1 country, the United States, hand years ago and were falling to not taken the monetary action keep pace with the expansion in
321
Kit
70%
1232
1910 relleve it.
COMMODITY PRICES
th
SUGAR
NEW YORK
Clolag prices in cents per 1b;
Contract No. 4 (world)
Sept. Uet. Juz. March May
2.00
LIVERPOOL
Closing prices all in pence per
American Contract
€14,90 Dec./Jau. Borch/Jan. May June July/Aug. Gel/Dze
alised Contract
Oct/Nov. Dev./Jan. March/Apel May/June July/Au
2.80 1.03-73
3.03
3.05-01
Oct.
3.05-09
3.11
3.14
2.50
It holds that there is nu real reason for alarm over the gold Jub drain because even withdrawals; Sept.
Oct, at the 1958 rate could be sup-
Spol-(.0.b. [liba) ported for at least three years Total sales: 294 contraciz rumming.
Open interest: 7.3 contracts.
Contracts No. 6 (domestle)
This is none too comforting.
It alarm were looming in three Sept.
..
ΚΟΥ.
March
years it would come earlier.
5.14
5.51
Two of its other contentions Spot-tc... N.Y, ex-duty) 5.92
to Tutal Sales; 176 cotitracin,
Open interest: 2.137 contracts.--UPI,
Chat Washington payments other countries are "a matter of policy, and could be suspended as a matter of policy," and that Russia's gold stocks are certainly the largest in the work! After the United States-are very de- batable indeed. China Mail Special.
Super Tanker Launched
Newport, Virginia, Aug. 10,
COTTON
NEW YORK
285657 RAANZE
METALS
NEW YORK
trade and payments.
and
Closing prices, all in cents severe domestic restraints.
21.03
per lb.: Lend
Берь Oct.
Zine
Sept
Copper
Oci.
RUBBER
NEW YORK
Rex rubber futures closing prices, all in cents per 1b.:
Sept
Nov.
Jani
Mar.
May
July
Ser
Tin Sept.
LONDON
Unfavourable
20
What is at the bottom of this
KA Britain asking the BATA Trame Conference to do and why?
The facts are these. The Brish Air Corporations, BEA and Beer, firmly bellevi that there are many millions of people who would fy it a new "no frills" cut-rate kind of air service became universal.
These
British turbo-props are not as
fares.
So
has
farc
come
regulating out
JATA's own
Secretary General, Sir William
Hildred ("Lower the dam even by a lttle, ar2 millions.more
allons will flow over it").
National
Airlines of the U.S. has already started n con- troversini "below bus-fare" night service from New York to Miami, an doubled its trome In three weeks.
Yet, it Britain does win at Honolulu, any airlines will be
in a fix:
The eventual outcome of the Eituation which the Vanguard
two-tier fare
turbo-
jets, and cut-rate for props, with each aeroplano tapping the markets for which it was designoch
Harold Watkinson's final words on this subject clearly show British Intentions:--
have a
MONETARY SYSTEM
Turbo Props The Key The report, drawn up by u
Bra and Bone, however, die nitie-man committee of bankers, economists, trade nious and ree struugly. Both these alr- Hines have deels of turbo-prop Industrialists headed by Judge aircraft-Britannias, Viscounts Lord Radcliffe, look two yes and Vanguards (the latter being as preepitated is likely to be to prepare and runs to about deilvered to BA in 1980)-
world-wide I deals with which are capable of sustaining structure-higher price for fast 100,000 words, various aspects of the Internal Economy Class fares at a profli
overseas ramifications of and at moderate loads. the British monetary system.
The report called for by the the government recommended fast as the much publieksed jets, But on latest Agures they cost enlargements of Britain's re-
lers than half as much to run. zerves to
enable temporary
Britain's case is simply this. be ridden adversities to
out "No stones are rolled in the without Imposition of needlessly
way of exploiting aircraft which ! are designed for speed. There should be no stones rolled in The Cemmilies thought that the the way of exploiting aircraft present method of publirning the which are designed for sterling area's reserves and liabl-
Econonly," ties
the United presented
The airliner which really | Kingden's balance sheel in too brought this situation to a hand 3/1-unfavourable light. But how is the new
Vickers Vanguard 3/7-ever it was presented the res lurbo-prop. With top deck
:erves should be strengthenedt
capodty for up to 139 pas- The existing arrangements of sengers
deck and bultom the sterling arca
Συ should cargo holds that can carry over need not be maintained und
Even toas the Vanguard's disturbed by the recent intro operating costs can profitably be duction of convertiblity.
as low as 3d, a mile in Europe, The Committee recommende:l
and below bus-fare rates in the that changer in the bank rale U.S.A. If cargo is carried, these 14hould he
the announced In
rates can be even lower. Fur- thermore, the Vanguard's 425 m.p.h. cruise speed has already given it journey times round Europe that are as fast and faster than those for the jets, which, on shorter stages, do not have time to deploy their high- alillude top speeds.
BEA has worked out that, with the Vanguard, it can proátably
12.00
12.04
11.43
1140
30.70
30.80-15
101
102
Closing prices, all in sterling per long lon.
דוד
200
T311
Buyers Sellers
To ent
7021
3-conth
Copper spot
3-nonch
Lead zu halt Au
AUR
Nov.
40,50
Zine 200 håll Aur
37.45
Nov.
21.20
33.50
34.75
34.50
SINGAPORE Clasing prices all In Straits cents per lb. fo.b.
Closing prices ali in cents per ports:
lb.
Apot
Oel.
Dec.
Murch
May
July
Och
Dec
No. 1 Sept.
33.10
Oct.
33.10
No. 2 Sept
12.18
Na, Sept.
33.33 No. 4 Sept.
33.75
Malayan
Spat rubber unbaled
22.01 Manket crepe...
25.34 No. I pale crepe
1084-10 100-1041
100+100
America's second largest ship,
NEW ORLEANS
the 05,000-ton super-tanker, Closing prices all in cents per
Fice State Development & Invest-National Defender was launched
Milner
Corp. of
South
Cony Goldfields of South Afrien
-2450.
Cons, Zine Corp. Ord-60s 13.
De Brers def-133 Rd.
15.
met-fir 150.
Hongdong Tim—ex 74d.
today at to Newport News Fot
Felating Tin.
Rand-103 [kt.
Southern
Kinta
Tiid.
Cons Ltd-231 shipping dinn
10TH 101N4A
yanin for the National Trans-On. port Corporation, a New Yorks
Murch The National Defender, with Mey July Det and 104
Dee. feel breadth, ranks immediately behind the liner
13
rit Bornro Petroleum
Byndl-United States.
לח •
8514 LTI
FOREIGN LACHANCE
NEW YORK Closing rales: Canada England official
30-day!
DO-day
Australia Helgiu
1.04 13/16 2.00 27/32
2.007%
.0200 4/10
106-1081
111-113
207-100
110-113
30.34
LONDON
Closing prices all in pence per
11.2
Holland
No 1 Ras DOL
Norway
.1403
Settlement house term:
India
31.43
Ost./Deu.
3146-31 Pakizian
040
CTOR
$100
52.17
Jan./March
22.10
Aprit/June
2015-309
32.54
July/Aug
20-2012
32.74
Oct/Dec.
FB40-381
31.31
General markete, c.lf, basin, porta
30.70 Bept.
30.53
3-31
Fatale crepe
iln Sept.
2.90 13/10-2.00 15/10
LONDON Closing rates: New York Montros Amsterdam
mele Copenhagen Frankfurt
10.01-10.0
140.26-140.37AL"
19-207-105018
11.99-15-21-704
Wick Bent
AMSTERDAM
13.1641-15.7036
Blockbon Closing prices all in guilders Milan
All Vionna unchatigedUPI.
34.531-14633 376255-174316
Zurich:
UTL
inton Corp—74m Tiki..
West Disfuntela” Goldinining, an over all length of 10 feet
West Band Con22 30.
Cate-259.
Teltisi Petroleum Co., 14d-87% Jumah-ra 1400.
Royal Dutch Petroleum-CBX. Shell Transport &
2015d-outer,
Trading-e
SAO PAULO
(Closing prices alt in cruzeiro
Her bronze propellor, measur-per kilo). ing 24 foot in diameter, will be bet
Average price in U.S. at 14 de- per kilogram, clf. July,
the largest ever to be illted oatgrated spot markets: 31.84 cents an 'Americanf shipë-AFP.
Loss: 42,376 bales.
name and on the authority of the Chancellor of the Exchequer, The Commillee niso recom- mended that the Chancellor of ad- the Exchequer should be vised on mondary policy by a stanting committee representing the Treasury, the Bank of England and the Board of Trade. --Reuter,
"May I now turn to turbo- props In the Vanguard, wo turbo-prop which is not only much better than peelfication but is • very cheap aircraft to operate, and I believe that if we could get this fares reduction it might completely change the outlook for that type of aircraft. We wight then have a two-ller structure of what we might all the bus passenger-low prices and bigli denalty-and those passengers who want to
higher and faster TARİH the jets. Government pollor, therefore, at the moment is to concentrate on the reduction in fares."
EO
So out of Honolulu this Sep- ember may well come nows which will mean that millions mare ordinary men and women will be taking to the air, and the days of air transport being the travel method of the lucky few will be numbered.
The aircraft that started it all the Vickers Vanguard.