Record-Breaking Pacific Flight
By Boeing 707
San Francisco, Sept. 7.
HILE the world turned over only half a revolu-
W llon s jst propelled Slant of the new air age
Ord-02 crossed the Pacific Occan today.
Miscellaneous. Boardman Marten Lu3–41 4:50. British
Lia. Oxygen Canadian Poelle_Bly-$50%. Dunlop Rubber Co-234 90. Hongkong & China Ga—13#. Imperial Chemical ind Lyons Co-70 34 Unilever Ltd-108s cor.
Taper
Bowater Paper Carp Ord--is $0.
Radio and Ricetrical Associated Electrical-ant. Electrical Muries-51 3. English Bretrie Enos ad. General Electric-30s M.
Indo-China Steam Nay. Co, del ond-10 D
P&O Steam' Navigation def ord
33 very rh. Insolated firm spots 165 | Included Fairey Aviation with a |--368" 710.
Stores
In
breaking record weekend, Pan-American Air ways' new Boeing 707 raced the
sun from San Francisco to UK.-Canada
Tokyo and landed back here tile morning with a total flying time for the round trip of 27 hours, 10 minutes.
The
Pan American
clipper broke all commercial
when it arrived ́in records Honolulu from Tokyo in seven
rise over 1 on news of good Great Univernal Stores "hours, 27 minutes flying time
Amaic.... 31.79 25 10000 or
430 anies of the vertical take-off | pd. 4.073 4.173 5000 or
Trust
A. Towenfi Sunvala
104 1
4075
3,43
5.70 -|
Skelantan
1.7 1.77! 2500 A
1.75
UTILITIES Tram, XD 23.20
250 1 1000
29.30 0.30 230
Yaumet!
116 119
C. Light
34 18.20 2000 14
10.10
300
10.10
bo Ied
200
10.40
Electric
X All Macao E.
lephone
3.00 23.50 1900 6
3000++ 10.40 15.00 -1930) Ser
200 m 23.00 20.60
As their impact is concen- trated, come holders have to Trust funda sell the rights.
American may not have the money.
holders may frozen out
SEĆ by the lapo.
Other holders may not want eggs in put so many more the one basket..
It is rather surprising that forchers, who so dislike pay- But the two per cont stamp duty, arc So alow
take
INDUSTY 33.25
Cerment
Rotodyne planė. Shipping shores were also firm.
Actual selling in Industrials, however, was light but buyers were generally reluctant to open new commitments so that it look little offering to depress prices.
With the South African and American marketa closed there wastle to help gold shares drift 29 which were Inclined to 23.00 lower. '-
1015
2000 ( 28.90
100 !
STORES, ETC. to
Dairy .... 11.70 17.0 2010 Watson
10 10.20 Lane, Craw. 206 2110 2000
COTTONS Textiles ..
[CITY LIGHTS!
This is Parkins-hựa come to us only recently from the parent com-
pany'
London Exprazo Service.
advantage, of these portunities.
Coppers were better on Roar Antelope's good profits. Tins were dull.
Oils were mostly lower, Rubber ensed.-UPI.
Closing Pricos
Giltedged Bandi
British Trmaport 35%. 1176/36– £00-7/19.
20
2000 28.00
34 1000
OSDU
17.70
31
6.00
500 G 1000
Nonynag
10.80
10.20 IL 500 2
10.00 2000 4000-53 4000 g 20.09
Contol 21-COOK. Corbis RTTY. Conversion Loan
MISCELLANEOUS
EMA
13.40
Luan
Funding Block £71.
D1
1050/60- 9.
JISTA, ADED/2004 -
Funding
Loan
1990/-
0.10
1
*500 (
0.05
£81-1/10.
Allied
M.SC. & F..
4.20
INVESTMENTS
Invest. 1170
70€ 11.40
Exchange Rates
Duafors was done in the lovel unofficial exchange Morkel this morning at the following rates: U.S. dollara ver $1 Sterling notes per 1-10.93 Australian notes. (per CJ) Indonesian rupiah (per 100 100 Bian Liests (per 1 Singapore (Strat19)
5.74
12.03
1902-
Savings 32, 1035/not. Having a 1000/70-2015. Sayings 5 1965/70-£7. Barclay's Bank "A" Lad ord-300
Danks
"Chartered Bank~~~49s 3d.
Hongkong053.
Inimirance
Volon Insurance Canton-CS.
Aircraft and Motors Britic Motor Corp. Ord--16) 34. Ford Motor Co-7h. Breweries Distillers Co-÷27#*10364.
Building and Materials Associated
Partland Cenient-93 echin John Associates Ord-310
28.30
1.02 cor.
op- U.S. ECONOMY
On this as on other aspects of British equities, there are is that people are beginning to realire how slow they have been.
NY Rates
Britain will probably
eschew
Oficial prices at which the Government purchases a large port of the rice crop from the farmers for distribution have Liten raised every year since the mainlain Japan's trade relations situation needs a higher bank
end of the war, regardless of with the
the size of the crop.
The price
line with
supports
are in the Government's policy of collecting as much rice as possible..
The policy also hinges on thei need for rural votes, which pro- vide the main support for con- servative parties.
Until 1965, Japan had to im port large ninaunts of rice from all over the world, particularly Southeast Asia,
IMPORTS
The volume of imports reach- cz 1,432,000 tons in the peak year
1054.
Special.
area.--China
a rise in bank rate, as a result Continued imports of rice of higher New York money other external Asian nations rates or any from Southeast
unless the domestic are considered necessary to factor
Mall rate at that particular time and unless the Authorities are pre- pared to follow
ollow it
up with other internal restraints,
was
Radckfo the That implic report's implications and with a
election
coming general seems a safe guide to probable omelat netion.
RETAIL SALES IN
BRITAIN -
Foreign Gain
'
Fight Against Inflation Not Yet Won
fostered by the current rapid economic expansion.
Marks & Spencer Ltd-574 901, Woolworth F. W. & Co–51x 7!5d. Textiles Costa J&T LG-27= 7550. Courtaulds LA-305" Týdn
Милет
Anglo-American Corp of South Afnem-100 dd.
China Goldfeite of South Africa
Сопа
-10%Me Corp. Ord-034 (1.
De Beers def-171-34. Free State Development-111 34. Hongkong TinAnd,
Petaling Tin-Os 3,
Rand--1039 0.
Southem Kinta
fo
1
CODA L-id-254 Talon Corp-69 716. West
161 34.
Driefontein Goldinining—
West Rand Copa-224 ...
Drill Borneo Petroleum Syndi- ratember
Brill Petroicum Co.. LV-34
Burmali-44, d.
Royal Dutch Petroleum-£15TS, Shell Transport & Trading-144 7190.-Reuter,
Singapore
Rubber
Market
Singapore, Sept. 7. The market was up at the opening on shortcovering
induced by Laotian situa- tion and steadied further on good buying Interest and fair enquiry lower sheets.
for
end a day carlier than it left.
Time for
the 6,675 statulo miles from Tokyo, counting stop ot Wake Island, taites about 15 hours 17 minutes.
NEW APPROACH
Romantle in conception, this new approach to the space age WYS commonplace formance.
per
On the first commercial Trons Pacifle jet service, Captain Ben Harrell reported no trouble with his 130-ton charge.
The passengers wore wined, dined and pampered while the spoof of the jet and the spin of the earth gave them divo Sun- days and two Mondays is sur cession.
With British and Amerken jot planes now elreling all the world a Japanese aviation exi- tor of the Asahi newspaper rushed on from here today to try for now record. He hopes to get back to Japan through London in less than 60 hours.
Also trying for is record is Miss Ayako Sono, pretly young Japanese authoress-Reuter,
REDUCTION IN
Telephone Cable
THE sue by Cable and
Wireless Ltd. of an offl- cial order for 1,635 nautical milos of lightweight cablo- costing £2,300,000 for the new telephono cable link between the United King- Conada" means dam and that Submarino -Cables Ltd. (owned Jointly by Siemens Edison Swan Utd. and Tho Tolograph Construction & Maintenance Co. Ltd.) wik be responsible for the manu- factura of the whole of tha submarine cable required for the project.
CONTRACT
Submarine Cables Ltd, re- ceived an order in September last for the 400 mutical mile extension from Newfoundland
up the St. Lawrence to the Pro- vince of Quebec which will cost £900,000 and last March they were awarded the contract for 550 naulicnt miles of armoured cable for the thore-ends of the main crossing.
The total contract, worth nearly £4 million in all, will, except the St Lawrence exter- wien which will be owned by the Canadian Overseas Tele- communication Corporation, (C.O.T.C.), be jointly financed and owned by Cable and Wire- less Ltd, and the C.O.T.C. and is the first part of the Common- tele- wealth wind-the-world
agreed in principle at the Com- monwealth Trade and Econo mies Conference in Montreal in
AIR RATE URGED phone cable scheme which was
York, Sept. 7.
UR William Hildred, Presi-
dont of the Internation-
September last,
al Air Transport Association, CIRCUITS said here tonight that pas-
It ruted quiet for most of the songer fares and cargo ratos afternoon at slightly below the
A single cable to carry, speech
in both directions will provide
duy's best. Turnover average must be lowered still further. 00 telephone circulis, compared
with
further
sharlcovering
balanced by proft-taking.
Selective buying for lower irheet with sellers offering un-
wonted grades.
No. 1 Tisa Sept.
be.
No. 2 Rss Sept. .No, a NO. 4
No. 1 spoi unbilled Blanket grepe
No. 1 pale creps
11122-112
1002-2004 11015-178 1001-1009 10794-100% 112-112: 100-107 12015-12234
AMSTERDAM PRICES The rubber marloet was quiet All prices were in guilders, cil Sept.-. No. 1 rubber
today.
No.3 rubber
No. 1 erepe
British Ac- with 30 channels of the exist
telephone
Speaking to the sociation for the Advancement ing "win" "Atlantic of Science he sald that rates cuble (one for each of the two and fares were needed which directions of transmission), and submerged 10- the publle would Ond too at- wil contain
peaters (speech amplifers) for tractive to ignore.
two-way operation.
IMPETUS
Present carryings were Dnitesimo; In comparison what the
The armourless cable will be
of revolutionary design. It will
be a special lightweight non-
in- twisting coaxial cable designed with by the Betish Post Office "dad airlines hope for developed by Submarine Chiles when they could cater for the Ltd. Instead of the conven- millions who wanted to travel tional for pleasure.
outer
armouring it mechanical strength is provided by a central aítunded steel wire. The jet aeroplane would This enclosext in a coppex frontior tube to provide the central con-
3.10 buyers loosen
atill
further
3.00 buyer formallliés, break `down isola-* ductor, and Insulated with poly- BAG buyers tion and give a further impetus thene to a diometer of approxi
mately one inch, Aluminium
3.63 users
LONDON PRICES The London rubber market
"It is clear that public policies for combating inflation must be more energetic in the future than they have in the past quarter did not try to explain was neglected with spot at 33 why price declines no longer pence per b
characteristic. of
are
economy.
the No. 1 Flow spot ... 3312-334%
Bettlement libuje terms:
Washington, Sept. 7. President Eisenhower's Cabinet Committee on Price Stability declared on Monday that there were "great" inflationary pressures at work within the economy. But it said they can be kept in check with "vigilant and vigorous" government policies. The dollar is stul suffering The committee, headed by the rather than exerting pressure. Vice-President, Mr Richard M. In August, foreign gains of Nixon, thus made clear that i dollars at the Federal Reserve rani smaller than in July or in does not think the country had won the battle against inflation. London, Sept. 7.
August of last year, but they Such a conclusion had been Retail sales in Britain are
were still gains and at a very drawn by some on the basis of booming and the final high rate.
a report issued by the committee figures for July published
last month. 1.
Bealdes Mr Nixco, members cf today by the Board of
the special commitice are the Trade show
At the end of August, the secretaries of the Treasury, value of retail sales in period which had the flap about Commerce, Labour and Agricul.
It found there idade of price Ja/Mar
Aprilijuna that month was five per the pull of New York's money ture departments;
ides, 3myysept. Tales, the foreigh gain for muster-General, Mr Raymond 3. movements: Prolonged cent higher than a year Linited States loss) at the Fed Sauinler, the President's chief short waves
ocensioni Det:Fike. carlier.
alone was at a rate of more enomic adviser, and Mr W. sharp peaks followed by periods sept. **** than three billion dollara a Allen Weilts. a special preskica of decline.
The latter are all cocociated The rise is wholly in volume year, plusi any, reserves that the tsl vesistant. of sales inco
with war and for wartime periods prices in July | Fed in effect borrowed on the
*PRICE TRENDS
pèrecat an- were substantially the same a forward awogs and plus dậy
Average, about ́ ́a Many experts believe that a year earlier,
bra. "For vout of foreign gairid In American comh The comihilue's report was num rico production here has now Sales by durable goods shope mercial banks.
devoted to an analysis of price peace, y contrast, the price moved to the lovel of 12,000,000 were as much as 24 per cent¦ It. In the pressure on the trende dating back as for na 240 level has on the average de- tond annually, which lo about higher than a year carlier in dolar that still alarma Woch-years.
allned by roughly one-half of LONDON FOREIGN 25 per cent Iunter than the July, a similar increase to the | Diglon.." au witneed the Pre- The committee wild this coun; ¦ che per cent per year."
But the drops that followed average before 1935..
23 per cent riso reported for sident's alarmist message to try's coopande history hows the Damage by insects, plant both June and the second Constoss and becas confererte lattor have dormired and price other wars did not occur offer have risen at an average rate of world War. 11' or the Korelin Cistuses, and typhoons has quarter as ń whole. In the on the bend celling.. fallen. The rice harvests have first quarter there was an in- That culling 16 a lot of non-one-half of ore per cent a year war. Moreover, only one of liq
• iha`broad · declines, of earlier
three crease of only 12 per cent. A zene but there may be a true periods tuve diappened at the the 1040-40 one-ban scen on New York became more stabilised,
Dost-war recessions A "Rice imports declined to Into proportion of the in-bill on other counts. China at 25 yee, the report said appreciable dip in chaumor Monteras 347,000 tons i 1957 and aloud creased trade was in sales. Mall Special.
AmateriASTI
The proft from the sale of relatively low-priced imported rice was used to cover losses sustained in the purchase and diviribution of domestic rke.
The efforts to increase rice output have now, proved almost too successful. Jaban this year. expects the fifth bumper" in- digenous pipe crop in as many years.
the total
at 005,000 tons in 1950. This beldig only inoderately higher. saved foreign exchange, but
Prices of durable goodla®, In
there are now algs that the July continued to be somewh Agreed Merchant
Japanese rice market may be disturbed by oversized domestic сгора
Anurvey made by the Minde- try of periculture shown at
lower than a your darilo 16 that the increase in the volume ot irado would be even greater itau tind showed by the ydide Nguren Supr.
Rates
Post- the
MOVEMENTS
and
%
Nay. Dec,
Ort./Dee
General markets, vif basis:
Det
Nov.
state rege thin Sept.
thick Sept
EXCHANGE
London, Sept. 7.
Closing rates were;
with the reuilt that "rines' In the price level are permanent and pricesti (clanulative In n' was that they Thus = recent increnres
woro not in hd preocdeg, two noclefed with opoppente growt
"hays been... Kamaladivo
•-13 ouich this was a matter of therefore theoston permanent i Paris.
Yi
Copenhaggs.
all stor
Swiss Francx: Maximum Bell advernment radne nás in the bud price viens did notat he spm) zumun Ing
uny pden phần thời th a faitei ai. IFI
-Others unab
to economy travel.
Sir William Hildred and that tapes (outer conductor) together in 1057 Americans spent $593 with a polythene binder tipe screening mitilah on air transportor and one aluminium
inter 450 per cent more than in 1948, tape with "a polythene
leaving tape are applied, and
For every one, per cent of his the whole given a tapping of Income spent upon other things anti-corrosion topo and an outer the American consumer would covering of polythene to an spend three per cent moro on overall dimoter of about, one air transport.--Reuter.
und a quarter inches,
Liferaft
Demonstration
NEW TYPE
Trinis of this new type of cable developed and manufac nhed by Bibinarine Cables Lid. at Ocean Works, Exith, were successfully carried out in Feb- UNLOP inflatable life-ruity, 1950, by HMTE. raffe worn demonstrated Monarch of Lisbon. The table recently Inva ́ ́éories of can be handled much moto Teally then emotired cable and trials at Piraeus, Greece, this facilitates the laying of the which wore attended by repeaters.
DUN
officials of the Groak. Big
of Marine brid Ministry members of Typaldos Lips pletion as 1961, will be made at
SA
The cable for the now con÷ treet, which is duier-fis" (corn-
tho.Greenwich factory of Bub
Lt. Comm. Nell Koane, of the marine Gables Lid, where new Dunlop Rubbery Company, was machinery to manufacture light- in charge of the demonstratiba, wight:'enblo" labaing installed. Pigs The demonstration involved dat is expected that the use of Imunchbig and boarding the life this special lightweight cablu TABE and PERVing their efficiency will at the pattern for} HRAED 11-14 in severely overloaded Lond) long distance submarina- talg
communktion oʻstoma: