Page
THE CHINA MAIL, MONDAY, SEPTEMBER 21, 1959.
SCIENCE AND AMERICAN ECONOMY DEPRESSED
ENGINEERING
A
Revolutionary Development In Bread Wrapping
High Interest Rates
And The Steel Strike.
Now Yolk, Sept. 20.
The steel strike—now in its tenth week and continued high cost of borrowing money this past week further depressed American economy.
A REVOLUTIONARY development in the field Union had Cariter nicated billon below, it
of bread wrapping has been evolved by a Lancashire firm of machinery manufacturers, Engineers have solved the problem of efficiently heat-sealing polythene
and have wrappers developed a conversion unit for standard bread wrapping machines. They are now on the point of producing a
and wrapping complete slicing machine incor orating this invention.
Polythene is an ideal wrapping for bread as it dough, prolongs bread freshness and having ex- cellent transparency enables buyers to judge the loaf by its
Equipment For
crust, At the same time it costs Accident Cases
CORNISH firm has
A manufactured a unique
110 more than waxed paper. The original basic problem in producing machine to poly- thene wrap bread was that of sealing. Gunned labels were both expensive and awkward og fracture boom, which li and heat sealing pased extreme designed on a new swivel techufen! difculties. In view principlo. It is claimed that of the fact that the game of this now boam will fit
almost any typo of tubular
material that had to be used und
a low melting point the tem
of.
fpose
perature of any heating element bed, and that it li quickly had to be extremely precise. erected without the uso This problem was solved by wing an electronic temperature any tools. It has no control, temperatures of welding nuts, and the clamps slip units being controlled to within casily over the tubes, Yet it half a degree Centigrade.
a
The actual welding operation in the machine is carried out in a troughs formed by three cun- veyor belts one horizontal and two vertical-dawn which he leaves move sideways. The wrappers are dab welded before reaching the trough, uniform con- tael on the irregular and resilient surface being made by mens of flexible element-a glass cloth tube containing an electricclly heated liquid. This weld is nar- row, almost instantaneous and requires no cooling. The final process of welding the ends in- volves five thicknesses of fim so It is necessary for the tooves to remain at the healing point until the weld has set,
COMPLICATED
i sufficiently strong to enable the use of a lifting pole to be dispensed with. and the lifting chain can be suspended from a hook wolded through a ploping mambor.
The main virtue of this ap- peratus is that the beam sup ports the leg verilcally from the thigh to the foot, and it can be Instantly adjusted to give the preelse amount of abducilon re- quired.
4
HONGKONG WALL STREET
STOCK
EXCHANGE
Four Own Carrapadene
Business done on the Hong- kong Stock Exchange Uhla morn- ing amounted to approximately $1,102,000, Noon quotations and the morning's transactions:
Shares Buyers Hallera Hnter BANKS
10 950 11K Bank 150 INBURANCES
Lombard 4012 AHIPPING Waterboal. 24.70
Steel contract negotiations Since the strike started July 15, of steel. The Intest are the reached a now stalemate when the Federal Reserve's Industrial | Oilver Corp, which najted farm | the industry rejected an offer prodhición index hds dropped machinery producidas at its from President Eleenhower to six points from its June peak | Battle Creek, Misip, plani. nanie an impartial, non-goven- | of,155.
Worthington Corb, a heavy mejitai review board la recom
Personal Income in equipmeni" maker, ho.. khut mend a strike settlement, The August declined to a rate of down gight of its 20 plants,
$2.0 Western Maryland Railway year, would accept mich à step. The | the July rate, It joined the ranks of other eastern Union Industry, apparently is inclined reflected sharp cuts ini, wages iron ore and steel cartiers re- to walt
until the and calories, a direct result of porting Anancial Jossen due to further government
good its the strike.
the strike. This maken
particular threat of invoking the Toll- The cur industry, silli plan- carrier sold it was in the red Hartley 00-day cooling-oft ning the highest car production for August for the first time period it the strike drags on this autumn since the record since February 1950. Into October.
year of 1935, began to map plans how to meet the looining steel shorloge, Ahuggestion, already, partly In effect, is to ask parts supplies to place orders with sleel warehouses at legs 420 à ton or more above
ralik regular
prices. necessary. At this rate the pleAs price of: 1960 car models was bound, to be higher.
More Pronounced
The record walkout's damage on the economy was becoming more pronounced with every new statistie:
Industrial output in August, be first full month of fell to 149 per cent the stell of the 147-40 average-four polats below the July level
Mörg manufacturing plants are closing down because of luck
Commonwealth To Discuss Plans
On World Trade
London, Sept. 20.
No Prospect
Wheeineke DOCKS, ETC. K. Whart.. Dock
Provident.
1000 23 1000 at 1000 23 4.00 17003 * 0,45
012
100 4932 479%
100 103
3000 43.70
100
12.40
Likewise, there was no proa- pect of an early, settlement of the copper strike which is Talkoo depriving the US. of 75 per
LAND, ETC. cent of its copper
HK Hotel: 20.10 putput. attempt to posumo | HK Land XD 30y negotiations between Anâcondn, Humphreys one of the major producers, HUDDER
Realty
1.33 and the International Mine,Amd. MIN and Smelter Workers Union, collopac ni mid-week.
The moles tharkets went on
0.5
גיכן
DECLINES
TO NEW LOWS
New York; Sept. 20. Stocks declined to new lows for several months in
light trading during the past week,
On the basis of the Dont- Jones average of 65 slacks 30 industrials, 20 raits and 15 utill- ties-the it closed the week at Ita Bowenk tével sincr February 19. On the basis of the Standard & Poor's 500-stuck index it was at a new low since April 2.
Sales for the week brought 60 47,75
out a daily average of 2,444,450 1350 140 shares, against 2,784,620 shares 13.40 in the previous week. 3214
B00
33 1700
20 1930 #1 22,80 22.000
The Industrial average clos- ed the week at 023.78 of 11,58 and a now low since June 18:
railroad 152.45 of 3.07 and a The 1.00 3000 1573 new low since November 20, 1958: utility, 65.71 of 280, and n now low since June 23, and 65
slocks 207.82 of 4.58,
2000 3.45
1000 430
A. Tawah..
1.80
2.80
3016
500 a 2012
120 400 a 210
900 19
300
19
200
a rampage of high interest rates || UTILITIES sanctioned last week when the Tam Federal Reserve System hiked Yaumat! ... ilm discount rate from 31⁄2 lỏ
C. Light
four per cent, Interest rates on short-term borrowings-on commercial paper said by large | Electrio inance compables, op brokers' acceptances
on coon mercial paper sold by dealers Mocoo E.
---Wero
ond
10 10.20 1002 - 18
23.00.04.30 22216 10 23.10 50023310 500 G 24 100 24.10
10.60
marked up to the Telephone. 20.70 highest levels inco
the INDUSTRIALS
early thirties.
Borrowing Costs
Watson
NET LOSSES
IDESCS Not
In Individual stocks ranged to more than 10 į po'nta In United Gas Corp.
Chemicals Were hord hil with Du Punt vft 6 und Alled. Chemical down
points. V.S. Steel declinent 35% points Firestone gained 29.16 244 points" while Goodrich tell 1500 61 20,80. | 04% in the tyres, Richfield was off 8 points in a lower oil 33 1000 341L
section. 1000 OF 54.75
10,00
200 4 21.60
Cement 34%
STORES. ETC.
10% 10.70 2525 25 10.00
0.00.
50 GA FLOR
11.00 11.80
1.80
0.00
2000 1000
1 CAW... COTONS Textile Nanyang
Vibro
Tho U.S. Treasury's borrow Dates ing costs rose about four per cent for the first time la 20 years. Its lotest lasue of 9:1 day bills was marketed at-4.1606 per cent up from 3.878 per MISCELLANEOUS
ent last week.
INVESTMENTS The climb In U.S, interest Int rates has drastically. changed the relationship of the Aiheri-Anled 41% can dollar to major European HK & FE currencies in foreign exchange Invest... 11.00 by Ministers of markets. U.S. dollars for delivery 90, 60, 90
Finance Ministers of the Commonwealth and seven British colonial territories meet here on Tues, day to discuss Commonwealth, European and world trade, qid plans for economic develop ment and the prospects of the sterling area. These are main headings but I attended It is equally suitable, and edit is expected that the discus- Cabada, Australia, New Zea-future justable in seconds, for a left or slons will spread over a wider land, right leg fracture.
range of supjata pt particular interest to individuat Comison- wealth countries. A conference source cald "nothing is barred."
The beam does not need to be removed for X-ray. and the clamps, and bearings are made of corrosion resisting aluminium alloy,
Handling is complicated by the that low and medlum fact
Also available is an arm frac- density polythene Alms are too imp to be pushed through the ture beam, which is designed to machine in the same way as it not only on the fixed hori- paper or cellulose materials_ond | zontal, member of the leg fráč- are also susceptible to the effects ture beam, but can also be easily of sthlic elcetrielty, Engineers used on any standard tubular
thle by overtame
introducing bed. automalle tensioning devices to It works on the principle that pull the alm through without the arm should be supported distortion. The film is wrapped vertically from the armpit to the round the loaf and cut off by a fingers, yet allowing abduction device that adjusts die sheet at drem 0 degrees to 50 or 60 size to the variations in loaf size. degrees in the verileel plane. The free end of the roll of poly- In the horizontal plane it sup- thene tends to follow the move purts the arm at any ongle from ment of the cut off knife because to 110 degrees in 5 degree of the static charge, but it is steps.
The arm beam can be position- ficked into position for the next loaf by a wiper bar with a ed on the main beam to allow simple trip action. End folds the pailent to sit up, supported are then formed by a "plough" by a standard back rest, and by
usual of the
bread wrapping quick and simple adjustment of the vertical cords, support pattern.
conversion unit deals and obduction ent be maintefri- Tho with leaves at the rate of 35 to cd as set for the lying down 40 a minule, Seed and unsliced position. Joaves can be used and a change
Another product of this firm
of lont size is allowed for by a swing suspension traine, for minor adjustment.
The firm hopes soon to market their new complete slicing and wrapping machine. This machine will be the first bread wrapping unit to be specially designed for use with polythene film.
se in hospital physio-therapy departments. It is of all-welded with light steel construction, bars forming the support for the hooks which carry the slings, etc.
It is capable of providing shaive of 720 different support- Ing positions. It has a very Alph safety. factor, and is | capable of suspending a 20-stone man. It is of attractive design, Is also the. transportable model for use in hospital words
The meeting, which la expest- ed to last two days, will be
Firm Week In London Market
London, Sept. 20.
+
35 0.35
133 & 445 2004
1000 G 17
South Aftico, Indio, or 180 days can now be bought Exchange Rates
Immediate delivery, price when purchased with patch, guilders, Bwiss francs, German márka and the pound sterling. Since World War I dollar futures had always been selling at a premium,UPI.
Pakistan, Ceylan, Ghana, Malant a discount from the spot or
the Federation ya nnd Rhodesla and Nyasaland.
EXCHANGE OF VIEWS Thero will also be ministerial representatives from Singapore, Sierra Leone, the West Indies, the Federation of Nigeria, Kenya, Uganda and Tangan- under tho vika. Grouped leadership of Lord Perth, Minister of State for Colonial Affairs.
The conference will consist of an exchange of viewn, on oul- standing problems, same of which will be before the annual meeting, of the World Bank and International Monetary Fund in Washington on September 28 The Commonwealth Finance Ministers will go from their to the Wash- Landon, meeting
They are meeting here
year's
Economic Ministers Montreal, to not up mich a coun-
It has been a good firminion talks,
week in stock markets, particularly industrial the first time at lie ministerial the Cominopwealth lovel is equities which have been Economic Consultative Council encouraged by the almost It was pgreed at last daily public opinion polls speciali conference of Finance which are forecasting a and Conservative victory at cil. so-ordinate existia econo the general election, now mic consultative machinery of only just over two weeks the Commonwealth.
The London talks will held in private but it la ex- preted.
that a briet com~ munique in very general terms would be lied at their con- clusion.
awny. The Financial Times index of ordinary Fi
industrial shares gained 3.2 on the week and is how only 1.1 below the all time high reached on Septem- ber. Trading hos tendcó to be zulher quilet büt publle in- vestment and Institutional buy ing was well spread and, with and which needs the miniumveling light and Block, short, YOU can now enjoy a tole-mount of manoeuvring to pince You
TV AND RADIO
IN SAME ROOM
vision programme with-
out disturbing your wito who
it in posillon over a bed.
is engrossed in the latest Luminous Light
orn
on
Sources
Sources
novel by her favourite author. Or you can watch a "West
TV while she is
➡LUE, groon, yellow, and listening to Women's Hour
orange light on a separate radio In tho
which requiro no electric same room.. When a pro- gramme comes on that you current dro now available in both want to hear a flick of Britain in the form of lamps, a switch is all that is neces-markers, signs and torches,
and for Illuminating instru- aury.
All that you need is a thymant dials. pinale control box measuring 4
prices improve on a fairly bread front. Breels were in the forefront of the advance helped by options, buying.
;-
MAJOR ISSUE
be
יז,
One of the major logins will concern problems of closer ecźnomic absociation in Europe, The overscos delegatea will s presumably want to get, de-| led British views about the European Free Ind Xspela
short-dated stocks were took offleet marke in demand I foreign bonds Bompe
The sources are sald to give Sept'1 and wore
Business was done in the local uno cial exchange market this morning at the following rates
5.73 1.B. dollare (per #1) ... Sterling notes iper EU Australian noles iper £1 Indonesian rupiah (per 100)
Mam ticals (ber 1001 Bingapore (Straits)
15.95 1234 6.00 23,270
Tax On Petrol May Set A Surplus Problem
Paris, Sept. 20.
Issues to riso 2 to more than
Stockpile
Rubber Selling
Penang, Sept. 20. Frealderit of the Penang Rubber Trade Heah Association, Mr Joo-sang said today the simultaneous move by the United States and Britain to sell their stock- piled rubber was "calcu- lated to drive more and more people in Asia into the arms of Russia and China."
The rubber executive said this action, reversing previous Washington assurances,
hoa
came as a complete surprise to mony." and added "that the British decision to release one four points Included Philadel– } laundred thousand tons from phia & Reading, Bayuk Cigar, their stockpile was least ex- Reever Bros and Guantanamo | posted," Mr. Hoon said, Sugar, Coca-cola gained 0% points,
Of the 1,414 Issues treded on the market only 235 managed to gain; That was the sinal- lest total of gainers since only 142 rose in the week ending May 25, 1950. The losers set a new high since October 11, 1957, at 1,080. A total of £1 stocks held unchanged, There were 12 now highs set and a total of 340 issues registered new lows...
MOTORS LEAD
American Motors continied to lead the market in turnover. Il rose 1 point on a turniØVET
shares. OZ 318,300
The two 181 Studebaker issues came up in second and third places--on Issued. stock ...with ⠀ paleo. of
Oll economists insist that unless the demand for petrol in Europe keeps pace with the demand for other petroleum products, oil companies in a few years may well have petrol surpluses that they cannot sell profitably.
O Heavy petrol taxes and
Soaring demand for fuel oll which has replaced coal in many industries as the primary source of energy and which has also made big gains in the home-heating field where cool has held the dominant position for years.
They offer two reasons for this middle distillates 25.5 per cent, dire cutlook:
and residual oils 30 per cent.
there Before World War II, was comparatively little demand for fuel atls in Europe, and it was considered uneconomic. by many oil companies to build re- fineries, in Europa. Europe's de- mand for gasoline, alzo has in- creased but at a much alower rate. The demand for diesel fuel, for example, is going up about 12 per cent a year, while the demand for gasoline is in-
only edcreasing
five per cent have annually.
ergaling a difere tar for thien ly
But pe
៣.
303,500 shares closing at 11 off and the common with 266,300 shares ot a close of 13% off %.
He said he could not under- sland why Britain should join the United States "in taking simultaneous action which will have a very demoralising and detrimental offeel on the future of the rubber industry on which the life and death of this coun- iry depends.
солье
PROTECTION
Mr Hcoh said the time has for Malaya, Indonesia, Thailand, Burma and Ceylon to get together lo protect tho Interests of the rubber industry. He said there need Vic no qualma about the future of the natural
rubber Industry there would be a place for both natural and synthetic rubber for many years to come.
The British action to release stockpile .rubber WEB also criticised by a loading rubber brokering firm in Singapore, Holiday Cutler, Bath and Com- pany Ltd. In its weekly report
Issued Standard 011
today it says "the (NJ) made
American releasca ive been fourth place on volume of
under review for so long that 181,800 shares. American Tele-
the Anal step of turning con- phone was afth on 170,100
jecture into
fael WAS not shares.
Each of these issares unexpected and the market had lost point.
accustomed itself to the fact. Wall Street experts had little The British Board of Trade's de- to say about the market other cislon however, camé than to suggest caution until the
complete surprise to 80 per steel strike WIDE over and
cent of the Singapore market anx caused heavy liquidation Most of the experts believed
which was not easily absorbed would resume its Immediately.
quarter or
Khushchev went home. the market riso in the fourth early next
They also industrial anticipated production with
steel mills resuming before. Jong-UPI.
year. higher
Break Down
In U.S.-P.I.
Cotton Talks
Manila. Sept. 20. Philippine officials today i saw little hope, of säj;}
od vaging negotiations the importation of twelve million dollars worth of raw cotton from the U.S. after the talks virtually broke down last Wednes day.
+
UNFORTUNATE
04 A
The report adds "the timing
of Britain's decision was unfor tunale for it looked as though The and the United States had made a bilateral agreement to the detriment of Malaya."
The Malayan
government 'meanwblic, had assured rubber dealers that there was no cause for alarm It sold the U.S.
Lasurences that hod giver stockpile rubber would be re- leased in stages 50 as not to create any chaolle conditions. The government promised to. make "u, full statement shortly.
Cotton Goods
Firmer
New York, Sept. 20. Cotton grey goods showed price scheduled last week.
firmer
A LUXURY European governments tradiifolly locked upon petrol ba a luxury item and have tax- With European refineries do- tipn--the Outer Soven" antione GILTS IMPROVE of Britain, Sweden, Norway, ed it accordingly, in Europe the signed to meet the demand for The ill-edged market started Denmark, Switzerland, Austria fax averages 41 per cent of the middle distillates and fuel cila relaik pries. In the United primarily, in the refining process the week, daily" bit improved and Perural-ca wal
The Juliena with. after the old account ended and
State Re bergent Thea minimum amount of gasoline ropean Common
the average tirice of reguing rade is produced. This runs to abcut Morios and Jox in the gongest rally of
cent. In most markets on Thursday, but By possible, repercussions on Competrol in Woskin Kairopo la 53:15 to 18 per
Europe, cents a fallen of which 52 cents European countries, the refiner the end of the week the guing | monwealth traño
18 kpen France shả. Linly, the is able to dispose of this gaso- were not enough to wipe out Some of the the losses und; moot, lastica were | counfiles
While now business developed the new hace la festly, 50 ccple a talion, Tine, although in times of over- abonit 1/15, lanwer. High chupon | tiadini.
upply and not might ree-fourths of which is ta
always at a
The Foreign Omco prepared at a sporadic rate the arrival of for their
prost, the economists point out.
to top other countries for its cooler temperatures across the ▲ PROBLEM
source of badly needed collon country had a salutary affect in after U.6. and Philippine hurrying the sale of clothing at
retall. In some
countries, notably negotiations falied to iron out
sharp, differences on the rato While a further boost in pay redlets Taly, disposal of all the gaso of payment
the would heighten for the proposed rates the United flip manufactured in local re-
importation.
vulnerability of domerile milla pościäily true Aneries is freqisently a problem.
to competition from low-priced fobrie Imports from Europe Taly's high gesoline tax- od about 15 conta a gallon is said Phasised the door has not been and the Orient, so-called market
entirely closed although, they "reallets/* wondered how for to have a strong effect in limit-acenified there was die chance could be avoided in view of the tofeline consumplión.
of agreement in the wake of fenérálly inflationary trend in Another obmplaint is that US. Insistance that the Philp the nation.
the cotton at two European countries, with the ex-ples pay
While the prolonged steel and fifly An example of the use of there Brighton look last work despite 37 molillon would operate in This different demand pattern ception of Britain, do not tas pesca TV or radio h enables the user sources la la a sin having Jotters
some · quartern, thought, as- BODEL to obtain wound at a volume of minimum height, that is London,
Johantysburg buying, Dank sild would roulon for different pattern, refinery high as they do gasoline. This These officials said it in the an 18 jo settled, there would be use medlite Auture belleved a rush of Zood-sized orduta, which would be oppressive to seven-eighths of an inch, which reperin American rebound winged John to yalia, in the United States, has led to the widespread
franco urgent cognomis daye. the pop yield of refineries of diesel that be truck and buses emily one or two weeks the particularly for the wide normal hearing. They continue | feel.
mariceli..
*
Activity in kayon grey goods. to receive it at an ordinary Sime having figures up to four Tuber shares daited down developed countries,
fqual putput. Fiddle distulates, m 13 non-Communist European formula that will offer a pro- Inches high ure available and word at the end of, the week. Thd loan atha jưpe, which | such as dissi rus]: Light pantinut countries is 13 crită 'a staiton, mise of acceptabilty, the whole was generally on the quiet sido You can also switch off or can be read at greater distances, following the Board of Trade the, World Banks, corot now dil make up 20.4 per cent, and which is less than helt the pines will turn to other coun- but with weavers operating awitch on the TV sound of Produced by limandhurst Com-annoukeut that, ita liftailed gulo – raulo, te japeyman | Teslisi oll, 12.9, se cii. In aybergé lay on gasolle. In Den-rles for, cotton, which is sorely with a fair backlog of prints, radio without moving from your pany, Vintry ulouse Queen | unloading ita stockgride on the largely, in loud marrionica- European refineries the gasoline mark thily's ho tắm mì. All ph needed By taxillos Industries selless held #leedy to firm on. "comfortable' oboje.
Bouber Sweet Place, London, B. 6. 4. market,--UPI.
Field #66 1:2437 pic fent; diesel fusi. UPI,
betsZURI,
quotations spaerally --UPT
by 3 by 11⁄2 inches (10 km. x | years et service without main- 6.8 cm. x 3.8 cm.) which you tenance and rely on special can hold in your hand or rest phosphors which are activated
| some anal contierutal sipport kept, Gerinana firm, Trunza Iantle, sincka mflected. Vai
on the walk, local ma bresatyd M11 weeks The luminosity of ranges from 60 leadors all showed.
elines, Id by sis with microlamberts for a diac marker, for example,
to 41p
2,000
BRIGHTER mlerolamberts for a Ave-lich-
on the arm of your chair, and by the radioactive gaseous Isotope humko si wall.
a small hearing aid plugged into Krypton 83, your car.
This new instrument, now in production by a U.K. rm, was designed originally for the hurd
the sources
of hearing. When connected to diameter lamp.
of f
Tho
market | Fail·
REUNER
Fereign Office omelais em
1t
the absche (of support from 9.90s smoulation wild the V934 | in: bartly-Dhimtrated by, thoautomotive diesel fuel newly as] (US$1.20) for every dedar eirike was a source of concern,
the rest of the family. with(can be read at distances up to 12 was the main support of the Toppkht, prpincii fa: the jew-aversav 449 per cent.... di' the The dykroko' tax `n diesel fuel) U falls to come up with a Industrial fabrics...
lovel.