Page
1
SCIENCE
THE CHINA MAIL,“ MONDAY, OCTOBER
1959.
American Economy
Weekly Survey Of Of
ENGINEERING AND NOW A DOCK STRIKE
New Equipment To SCARCITY OF MOST
Simulate Space Flight Conditions
A
HYPERSONIC shock tube now under construc- tion at the National Physical Laboratory, Ted- dington, will be able to simulate some or all of the conditions applicable to the flight of missiles at extreme speeds in the upper atmosphere.
The general principle of a shock
Is based on the sudden splease of pressurised
ጀ። 5 . Complex electronic equip
ment required to collect data the behaviour of the gas
011
flow during its few thousandthr
of a second duration, when free- flight stagnation temperatures of the order of 15,000 degrees F. may be achieved.
constructed
Solution To
Packaging
CONSUMER GOODS
New York, Oct. 4.
The steel industry has one week in which to put its house in order and get into production again after a 12-week strike. The implication of this order from the White House last week was that otherwise a Taft-Hartley law 80-day injunction would be sought by the administra- tion.
While both management and generally expected to be some our got down 10 serious | eight per cent ahead of last year. right The first of the flood of "loss" negotiating in Pittsburgh
which are beginning to trickle in. hit by another walkout
the nation's economy was reports due to the steel strike will choke off whatever steel Pennsylvania Ralirche, saki the the U.S. ሚዲያን gelling from strike cost it $22,500,000 in lost through the end of abroad plus a lot more strike revenue
Stocks Shrink
|
ot come 100,000 east coast long-August. It attributed its August shoremen from Maine to the deficit of 3,491,000 dollars direct- Gulf coast.
i to the price. In August of ines year, when the recession hit rail- oad industry was barely "start- These developments cune os ing to got any profits, U.S. steel stocks on hand shrink Pennsylvania cleared $3,288,00B. to some 10 million tons, sane Fennsylvania had carloadings in ilve million tom: below the August of a 18.5 per cent down
Wide and fréight volume 17.3 per cent spread curtailment last week and ↑ decline-generally reflecting the next at almost all metal manu- overall railroad" situation. facturing plants was expected us
SOLUTIONS for two pack-naiton's normal needs..
aging problems-space Many shock tubes have been and security-were recently from surplus gun announced by one of the barrels, but for the purpose of firms exhibiting in the recent studying the physics of air at very high temperatures, stainless International Packaging Ex- steel is preferable. The new hibition in London. installation incorporates stainles steel bars specially bored with -1 two-inch diameter hole to close tolerances, and capable of withstanding 1,000 atmospheres has pressure. The shock tube bee bored by a Sheffield fr who have developed special equipment for much assigemente,
The
HICH PRESSURE
in
or
required aerodynamic performance of the shock tube calls for extremely high 'driver' pressure the chamber,
the Muck breech, of
tc? Typleat operating conditions re- quire the containment of about 1 cubic foot of hydrogen at a 1,000 timcO greater
pressure than that of the atmosphere. This, as is then released, by rupturing diaphragm, inlo the working metion of the tube, A dump tank which has a total volume of about 200 cubic feet and is exhausted to a jeessure of micron of mercury is filted downstream of the working see- tion to ensure the final equal sa tion pressure in the apparatus
does not exered 5 atmospheres. The effect of the apparatus la to simulate fight at speeds up to about 18,000 m.p.h. at heights over 150,00 TL. (30 miles).
To meet the requirements of the National Physical Labora- tory the Sheffield firm had to
finished produce fin
borus from sold slaineless steel bars, with Hanges welded into the ends, in lengths warying from 1. Gins. to 7 ft. 6 ins,
BORING
is Arm
The
putting into production a new type of con- fainer with a tapered shape to allow for close nesting. It is claimed that these
a result.
Production
The Federal Reserve Index of the nation's productivity, at its peak of 155 in June, dropped to 153 in July, 149 in August and an estimated 147 in September.
U.S. CAR
MARKET FACING CRISIS
Two
Detroit, Oct., 4.
dark clouds, the smaller one hanging
HONGKONG Wall Street
STOCK EXCHANGE
Ly
Our Own Comexquomodont
Business done at the Hong- kong · Stock · Exchange thy morning amounted to approxi-
Higher On Dull Trading
New York, Oct. 4.
mately $1,195,000. Noon quola Stocks during the past week overcame several formidable obstacles and moved higher on dull trading.
tions and the morning's trans. actions:
H-མ་
BANKS HK k INSURANCES
Union
Lombard... SHIPPING Waterbomi Wheelock
Buyers Sellers
908 671 #21 8010
Balet
33.10
6.19 0.19 1000 or 6,45 8000 12 8.40 3000 0.00
DOCKS, ETC. K What Dock
113
115
8034934
300 48
200 M 40.50
Provident.
14.40
LAND, ETC.
...
300 49.75 23 14.10 1:29 vs 14.10 14,10
600 or 10.20
14.30 14.40
74
33.15
30 30
directly overhead and the Talkoo Dock' 39.78 The total of 160,000 svoriters
bigger one..coming up laid off as a direct rull of the
fast, threatened the U.S. IK Hotel.. ririkend in addition to the
car industry's hopes of half milllon steel workers them- selves was expected to swell
1960 starling off the The only major metal-working rapidly. National defence inter-
model year with a sales industry still keeping to its Lests were beginning to be hert.
were the boom today.
UK Land 30 38.73 There were reports that Atlas Production schedule
They boom- car manufacturers.
18 15' Humphrey inter-continental missile opera-
Realty
1.05 1.075 scale 1000-mode? ed into full
The two clouds were a strike RUBBER containers tional rites construction
Chrysler Corp. Am... 3.525 3.50 submarine production Inst werk following at can be stacked in such a way
days; legging
ky 30
also several weeks of retooling. The stumping plant et Twinsburg, production Was os to save 75 per cent storage i missile #pace thus making the export affected. General Motors started big question was how long this Ohio, and the nationwide
Strike,
than now more empty
laying off workers. Their non-pace can bo kepi, containers ទង
months old.. economic proposition for thebers so far were in the hundreds
for nimost half of the entire first
their but Were time, Apart from
expected to reach acme 8,000 later this month. shape, construction is conven- tional with electrically-welded side scam, curled and beaded top and double scamed bottom,
ducing
TAMPER PROOF
*
Shortages
Was
General Motors, accounting U.S. car output, already admit-
ted it would be the first to cur-
tail its operations sometime In October.
previous
mel
Judging from the active ist The market was going along smoothly on Monday and Tues- it was a car market. Studebaker day with gains of more than Puckard all but hit in a crition three politis in the industrials in shares. It lod in turnover with
shar feach of those sessions. Then un cales of 997,000
Wednesday everything weni cloped· the week at $1811⁄2 up wrong for the bulls and the in- 144. Its when issued alock carne at dustrial
fell 8.42eecond with 612.000 shares department points. In the two remaining ¦ a. close of $38%. American ssions the market regained its Motora third, had sales of 374,000 pulse.
at a close of $80% off 44. General Motors was well up on the the list with a gain of polm. Chrysler roso a point,
Superior Oil of California lost $140 share to $1,425 butt nothing approached its pince as the highest issue on the board,
• Judge Walter J. Labuy of The other issues ranged from a Dinois Federal District Court rise of 16 points in Polaroid amounced his decision in the to a decline of 15 in Rohn and | government'o anti-inst sult Haas.
INCIDENTS
Incidents which drove prices down on Wednesday included that stood out above the others:
20 against the Du Pont Co, General Gairs of 5 or 6 points_come.
Motors and others. The main nato Larkens Siecl, A. M. Byers. point in this case is the di-American Home Producis, 10.10 position of 03 million shares of Addamsograph, Fareleel, Spencer General Motors stock held by Chemical, and Western Mary- |Du Pont. Throwing millions of land. Du Pont netted 2% affer shares of the stock on the mar going through wide gyrations.— 150) 3.50ket would wreck it, traders UPI. 1009 e 3.825 (nagued and sold some of their
38
1000
3.33 1503
3523
50159.75
holdings.
At just about the, same Bras, a secondary offering was
steel 214
Truet
A Tawan.. UTILITIES TIT
4.20 4.25
3.93
3012 30.75
Star Ferry
3300
301
133
118 190
20)
119
announced of 300,000 shares of
18.10 18.20
3:00
13.20
600
211 29.00
1030
13.20U.S. Steel common stock. 2300 stock, believed part of the Gould 1500 23.89 Estate, was priced well
The
100
market. Steel
Way
Yuumati company's C. Light
The strike at Chrysler's Ohio stomping plant already cutting into. the production of all cars except Electric .... Imperial and Valiant. Chrysler It had losi about 1,000 units scheduled for production during the past week because of the strike. More than half of the Macan F company's production .could be cut off during the next week if the strty continued.
Last week car bulput toiled Appliance shortages are hit- 69,487 units, o fat boost OVCE ting merchants who reportal the previous week's 62,176. A brisk sales but progressively less | year ago 42,599 cars were bullt and less goods to sell. Although in the comparable week. Truck few major appilanee makers are production last week Increased The same firm are also pro-running out of popaler medels, in 21,057 from the
new tamper proof
washing week's 19,040. A year ago the closure for cans consisting of Refrigerators and
machines are most severely hit figure was 14,315. a implate neck, threaded to a
In all areas of the nation, A #pecial design and soldered to
Nevada retailer has to cancel the tin head in the conventional
several orders for refrigerators, manner, and an aluminum cap
a Florida merchant said he higher last week in the pitifully Incorporating the sealing tea would
This cap may be screwed next week and washing machines strike. Output
362,000 on by hand and the song in two weeks.
tons, representing 12.8 per cent. But the steel walkout posed a with a performed operation
A Philadelphia dealer reported of the industry's total capacity, realer threat in the long run and tool or bench type sealing he could sell at a rate of 200 This week an estimated 365,000 because it could close down not
per cent abovo last year it helons will be produced, or 12.8 only Chrysler only could get deliveries.
ture.
an
tine.
It Is
machine. Alternatively the cap can be screwed on and seated by an autoputle high speed machine which will fit into any existing ng claimed that cutstanding advantage is that although the
been сар has
screwed on tightly ensuring complete security against leaking unscrewing of the cap is a very light and easy operation, which caa be done between finger and thumb.
After rough boring straight Slotted Angle
turning Accessories
from the solid to 1% in. diameter, rough
* operation. off the bore, re moved any eccentricity of the bare. Finish boring brought the holes to within .005 in, of finished size, and the bars were then Bnish turned on the nut- side
The diameters.
bores
were finally honed to 2 ins. 000 + .003 Ins., and the out- side diameters ground to re- quired fimils.
Scintillation Counter
A
RECENT addition to the range of nuclear equip.
ment for medical use by o
Two
the
Output Even steel production odged
Telephone
2500 23.70
2313 the New York
below
325 17.70 promully fell to the secondary
68 12.00 offering price and others of the
Rt 12.70 .. 10,80
29.90 301
200 (30
153
2503
500 32
INDUSTRIALS Cement.... 37% 37.75 STILLED
STORES, ETC. Dairy Eventually, all Chrysler output Wasson
Imperial ind
Vallunt Craw
COTTONS Texille
500 3715
2020
24
7.03
1.20 2000 an
1000 20
2000 7.10
Nanyang
..
12.40
20 và 12.0
4000 12.30
MISCELLANEOUS
INVESTMENTS
13.80
Jexcept be out of refrigerators small segment unaffected by the could be stifled by the strike.
Fales
was
but all the auto
Vibro
ini.
Invest
500 34
U.S. Selling
ocnt of capacity. One companies. . Dealers were specially- con-month ago, when the strike wLS cerned because this short is seven weeks old the industry, parts plants were expected to hit
So far, only General Motors k Docurring just as they wanted to turned out 332,000 tons at 11.7 the final assembly lines in about stock up for the Christmas rush,per cent, capacity. One year 21% wepics and steel shortages and after predictions that this the weekly output was 1,901,000 were expected to hit other year's Chrialmas
were tons at 70.4 per cent of empacity; mamtacturers soon afterward.
Iron Age magazine warned that an 30-day injunction under the Taft-Hartley, law would be no panacea, although admittedly better than a continued strike. It sald only some 11 million tons could be produced in that cool-
period-just off Ing
day-to-day enough for UPI.
U.S. COTTON
GOODS TURN FOR BETTER
FNWO new accessories for
New York, Oct. 4. Weavers turning.out cotton use with slotted angle
grey goods for both the have been added to a U.K. range of products. They are
apparel, and industrial trades entered October a T-section plastic foot and a four-inch rubber castor.
sounding a louder note of confidence. The former is designed for
The -turn use with 1% in. x 11⁄2 in.
for the belter gathered momentum last week angle. Made of rough grey when buyers of print cloths, and plastic, it protects floor sur- other standard constructions, faces and at the some time became anxious to cover provides non-slip contact.
quirements Into early summer of 1060.
RUBBER CASTOR
It can easily be screwed to
IC-
The chango about in buying policy from the indifference ap- parent in late summer, was iraceable to a number of in- duences, including · U.K. firm is lightweight the floor for added rigidity. A readily diminishing supply scintillation counter with a rubber castor is ideal for of goods available for spor and directional shiold. The count-avy loads and uneven sur-
faces, giving better, and easier nearby delivery;
D
*
ar is constructed in a sealed | handling under these conditions Anticipation of increased stainless steel container, an-
than the
existing two-and-a- obling it to be cold-starilised. duty castor can take a load of half-inch rastor. Each heavy-
The output from the photo- up to 200 pounds, multiplier tube is fed via
a
cathode-follower stage to the
permanently-attached cable trom
which connections can be made Mobile Diesel
to a suttable ratemeter ocaler.
RÁTEMETER
ог
It can be connected directly
School
MOBILE Instruction
barely
use.
Most Chevrolet factories are working only four days a week because of the steel strike.
The production. losely could dealers will mean that some
for have only enough curs
showrooms, display in their none for sale, until full produc- tion can be resumed-UPI.
Industrials Are Favourites On London Market
-
A
Excess
Rubber
steel group weakened. -
CONFIDENCE
A factor in restoring confid- ence in the market was a move by
Elsenhower. 10 President
force resumption of negotiations of the steel for a settlement
occurred
strike.
When that
Britain's
Reserves
Rise To New High
London; Oct. 4.
rumours circulated that an end The reserves of gold and convertible currencies of Britain and the sterling
of the strike
WR3
imminent. However, this was squiched later by David J. McDonald, head of the steel workers union.
The President gave the groups until October B, to settle the then Istrike. It isn't settle
market men belleve the infunc- tion procedure of the Tat- Harley Act will be invoked.
In- Meantime industry after dustry was running
the barrel on sieci bottom of the supplies. But there Was ΠΟ apparent general slow up of the economy.
near
Retail trade continued high. Gains were set by automobile, steel, hid
electricity patpat. Car loadings rose as steel com- coal, |panies built up piles of The government announced bviously in anticipation of
Washington, Oct. 4.
arca
rose by £13,000,000 in August bringing the
total reserves to an eight- year record high of £1,173,000,000, the Trea. sury announced Last week.
The result was widely wel- comed not only by the govern- ment but by the City of Lon- dpa where industrind shares on the stock exchange bounded to
a new, all-time high.
September is a month when British manufacturers normally buy their raw materials from the abroad and the pressure on 47
sterling reserves normally cuts them by a considerable figure.
SURPLUS
today it would begin sell-sumption of steel making.
Railroad shares, especially
in
steel
ing excess rubber sup- those in the cast, moved up plies from the strategic when it appeared as if a
Yesterday the Treasury esti- mated the payments surplus for materials stockpile, effee-settlement would be reached.
Money rates tightened further the second quarter of the year tive October 16.
commercial
paper and at £107 million, three times as bankers' acceptances, and the
large 2. in the first quarter. The sale will represent the government was forced to price: This compares with £85 million st time that supplies will not a four year and ten month lasue for the second quarter of 1958,
of $2 billion al Ave percent, The sharp rise in reserves in 1029.
be replaced.
sald guldo
ex-
quarter over the General Service Administra-gest it has had to pay since the second tion (GSA). the governmNCELL'E Wall Street along with general rst to due to a distinct rise in Britain's exports and a great agency, Bald business appeared to be ignoring crease in invisible Taxuse-keeping
CRKTRİKLER, now has from 40,000 to 50,000 the money market. Consumer Ahough imposte also rese, the
rubber credit rose with instalment credit rise was unusually small. tons of excom natural London, Oct., 4.
which must be disposed of to Getting a record high.. Banks
The rise in kavkable exports, said there were no excesses In There have been a series of economic indicators prevent deterioration
instalment buying despite the which lude shipping, over- "Not all of this will be sold at
***** seas profits, travel, - insurance this past week which have clearly shown the
one-time GSA policy specifies high level of the credit.
The Lifour picture was
ard many so-called “services," da very healthy state of the country and these, that not more this 1000 tons rather than the unsettling influence of the can be sold in any three months pected to clear up once the steel greater than has been expected is soiled. This Dast and is regarded as a further in- diction of the sudden recovery whtu woelt saw a new strike general election next week and the current period, to avoid disruption of strike
the normal rubber market,
from the longshoremen thed up ports on the world has made GSA spokesman fluctuations on Wall Street were the main in-A
the Atlantic and Gulf Coast. 1958 roccasion, s (market conditions will
This cut off about 50 percent of
RISING fluences on stock markets,
polley on the mid-October offer the steel imports that had been. At this date it is too early case but the ing.UPI.
helping steel uses Strikes ex- for the Treasury to give the The week opened quietly ables tended to production costs after the New
The
pected to follow the steel pot-} aciust breakdown of figures: for Year when cotton millworkers with very little, selling but with medium dated moved up.
tena in settlement include the "invisible" earnings, but was very are expected to seek a new wage Wednesday and the opening of foreign bond market
several in metal industries, prellable estimates put these in increase!
the new account which will quiet and tended to ang. Whils
per mulpes, ...ticstpackers, and the second quarter of this year Low mili inventories result-embrace the Election Day there German and Greek issues ended,
container makers. Aleo at £130 million compared with ing from alrict adherence of was a steady increase in the Japanese prosented a mixed ep-
the settlement may influence, the||glich earnings for the first enost smilla to operationA ÖN volume of buying of industrial pearance:
final contract between the rail quarter of £60 milijon. five-day a week, basis;
equities particularly steel
road and rall, workers,
In the six months up to Late in th weeks if it June 30 the reserves this year SHRTUE,
Paris, Oct. 4
didn't have enough distractions have risen as an annual rate The Bank of France state the world earies got under way. of E284 million compared with ment for the greek onded Sep-Market ma deserted trading to the revised figure for the watch the progress of the games whole of 1058 of £349 million. tomber 24, reads as follows.
Francs on the broad tape thokera in the UPI. Total gold holdings 692821587.217 Total other currenclas 100.001.431brokoraure offices and, in tira' Bight balanos in KPU $16,145,000,000 stock exchanges. Volume drop- Toist bill, discounted 1,404,185,049,083 ped sharplysn Bankraterih eireula, 000089 Por the work totalled
tion current account 50.47.421.5 age of 2,727,793 shares com
18,628,900 shares;"a" "daily aver- deporte
(pared with 1,001,180°driazon, DE A (dikize/askuyaga:06 2,202,392 shAZOK
1
› FOREIGN CLOTH
Kem
Last week's prominent
to the 'makor's ratemeter, “but. school belonging to a Hongkong requires the use of a separate amplifter, when connected to a U.K. diesel engine manufac- typical
The
RECORD
pegült
that
MIXED
The sterling premium on buy- in the import picture was in the
ing Tratante, mocks rosa une drapery fabrics, Foreign-made
on per cent, but the stocks, after a bark cloths were offered, well Thursday and Friday the week of ipe, and downs ons Wall below American mill quotations Financial Times Index of in- Street presented a mixed op Intense uretvads were reported dustrial surdinary stores rome to paranoi coming from India, Pakistan and record pausi. The index grined
The buying of "bares theroased On bark cloths, the speciesuchsia would normally steadily during work em- hrasing along",maarse and a wide rafcreter or. scaler Turer, Has been loaned for construction 38 1435 06 x 10 2.80 indicate boor cabditions & butiran of industrini equlies. The requiring a minimum output of three yours to Yugoslavia to yard was reported sold at 296 there has been (nollys of
„Aafuntéint "news" of the week' 5 volts. The directional-dheld giva on-the-spot Instruction be fully 234, centa under à com
cents a-yard, kanded, this would voor this past werk
joerentente" retains the acintillation counter
was nowhere HERE.
Interim report': fós simple maintenance: pemonnel, parable American make. by ETVORILI of a
of 1960 which, wska clampering and it can be atted farmen and users of equip-Cotton alte yam pinners re with any one of three standard mint Powered by their en- ported a celler market in affect, collimators to provide after gines. There will be about lely on lednic
counts and combed – werving native inglés et acceptance. To $15,000 bf the firm's engines contractions. Cena number nhà thiệu nó Eacilitate sentirate repositioning operating in Yugoslavia, by were generally wefeld Chrgar
bapolation to the peteenth and akithmiyaary mainly the year wil FOTOWAS continuously-adjustable" coinci dait laht mot rsegs-finder is in tractors and combing her counts 30 and Bolsas
December:GUETE
diduence of
Bank Of France Statement
Exchange Rates
The Daw-Jones" iridhistrial |
overige closed the spectat
Bank Of England Statement
London,
The Bank of England. statė,
800.37 up 8.08 polyts; railroad merit för the week ended Sep- Kusurmak tips dotze in the local 163.85 up, 400; Wilty. 88,86-up tember 30, reads as follows: ind
márkort
1997 and 85 st312.70% un Netto eléculation pro của 5x7 painter when nen la tha
1000 Standard & Poor's Index stories