Page
SCIENCE AND
THE CHINA MAIL, MONDAY, OCTOBER 12, 1959.
Weekly Survey Of American Economy
ENGINEERING EISENHOWER TAKES ACTION
Ordered Back
Record
To Work As Damage Mounts Import
LONG-PLAYING Steel Men
RECORDER: 40-HOUR TAPE
A
.
New York, Oct. 11. Presidential action stopped ono strike and he has now taken štaps to stop another as economy crippling · damage mounted across the nation.
21
ONTICR-
luspes
Ironic
Of Cars
Into U.S.
United
Demand For Bonds On Wall Street
New York, Oct. 11.
The stock market held its own during the past week, featuring an almost sensational demand for the Treasury's new five per cent four year and ten month notes.
TAPE machine which can record or replay up ordering the steel men back to logical stimulus of a new tabour pertains
A Taft-Kitty injunction ; onder and without the psycho+; "effects of the steel strike as it both to purchasing to 40 hours has been developed by a U.K. firm. work for 30 days has been contract the men would not power and withholding of ear It can be used for a variety of purposes including sued by President Eisenhower. have their heart in the job end sales by overly cautious dealers.
Washington, Oct. 11. some of the lost production plus widespread pre-introduc- the recording of engineering data, broadcasting, The Presklent
States imports of stopped the could not be made up until tory announcements of 1966 car
East Coast early 1960. walkout of 85,000
styling features."
new passenger cars telephone monitoring and the provision of back longshoremen first. It lasted The outlook was made bleaker
chiefly European made -- ground music in factories, large
week but its effects could by a new ecare, indirectly alo and only stores,
in the January-August multiply into
originating from the steel strike.
The Treasury. offered exhibitions.
$2 gency' in a perlod much shorter Manufacturers, particularly in
1959 period set a record Detroit had calculated that on
billion of the notes and received the duration of the steel | Detroit, were not so much
exceeding that in
any subscripucn for more than $11 worried about Inck of steel as the basis of sustained liigh sales It could take a temporury pur- in the consumer trilment of production due 10
previous 12-month period, billion, Bankers sold the issue was priced right to attract in- Last CommCTVE Department vestors and it did from coast to Jack of steel and then resume.! output at full blast with a thick sinilales obtained by the United coast.
But Press International today dir-
The difficulties in this financ- back-log of sales orders. the sale sleferred in September (closed new could be lost in the industry for ports numberex!
passenger car im- ing by ahorl term offering were 446,081 units competition with savings la- at least the rest of this year and¦ valued at $493,283,000
The in the stitutions that might upsel possibly forever. Iranieally the nest eight months this year. mortgage market, competition drop in Judes came just as the
with business in need of short term money for seasonal needs and Treasury competition with itself with its 34
per cent savings bonds.
The machine, weighing only operates without attention; A 35 th, has already attracted an Srjokesman for the manufactur- order from South African Air- † eis told an LPS correspondent
offering The fron are
that two runs of 20 tracks Pan "entertainment while you fly." be made
one-inch on
tape, Passengers can listen-in on ear- For airline work any
number from pheres wiele travelling
ways.
the UK. to Johannesburg on from Juhatutesting t Austra
of announcements could be pre- ret and played out bandeasting system when
Over
np-
ba. Mentre is at avat!] plezblo na: weft is provgling Lav
SH firm's internal form of recorded entertaininent, South African Paute
Th
in mam
NYATAA
20 TRACKS
14 DN 14 in. x 12 ins, and
-
New Animated Illumination
A
NEW
of
system dramatic illumination is being demonstrated by The General Electric Company in Aberdeen from September 15-18. The tiem is to illuminate three
of types building →
college. 1 theatre and a hostel,
A
*Th system. knowu 小 "Anilume," is a simply operated modern technique for the fond- nghung of all types va building, involves colour changes which can be effected by remate Valio control. "This brings a new versatility into Uni reahn of
A
tape
to
اده
The Intronent has perd of 31, ins, per sec. give a frequeng respons
60 % to 6 keys within the 3 di points and 5 in. reels containing 1,200 feet of thin based true give one hour's re- cording her track. In der to achieve 40 hours a two track his mod on a cath astmbly giving 20 positiers for the heads
on a 1 inch lape. The method of
operation is such that 20 tracks of recording are made with one head and Then further 20 tracks are made with the second Trad.
Two capstan atsemblies with counter-rotating flywheels are ↑ ditaven from a single capistan motor and move the tape in the direction appropriate to the | sel «teri tracle-éven numbered
tricks having the tượ
that strike.
The Presilent gave the steel withi industry and its workers untii|market. October 8 to reach a negotiated settlement. The two sidrs made an effort but failed. .
Wage Losses
was
WeTC 432,113
cars
As recently as 1955 when the upturn became pronounced, im- ports were 57,100 cars valued at $69,242,000.
PLEASED
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
Business done at the Hong-
Stock Exchange morning amounted
kċerg
Car Sales Down Ward's Reports, the statistical agency for the car industry, re- ported eat makers recorded its The government announced worst September sales since 200,000 workers have by now World War I last month and car companies started Alling In all twelve months of 1958 |been like gif in addition to the blamed it Inrgely on the steel their showrooms this past week imports
500,000 sleel workers. It walkout. Ward's said Septem-with 1900 models which they valued at $436,903,000, estimated wage losses or theber sales, averaging 13,958 hoped would lead the industry intoxi workers have now day, were 25.3 per cent under
to a sales year second only to mounted to almost $800,000,000 | August, a decline which it called the record splurge of 1955. and said the wage loss figure is "more tham seasonal.” mulating at a rate of $80,000,000 Lack of steel, of course,
It was sull
Carly to tell a week.
hurting Detroit and the pre- whether the drop in car sales No stalistic on profit Inspus dicted layoffs were materialising. would spread to other consumer By the industry, have been General Motors laid off more market sectors, such as appli- mindy available so far but they than 8,000 men in various plants ances or even soft goods and
The successful invasion of the were estimated to have exceed and raid more than 4,000 others department stores. High sales, American market by European
about ed at least $2 billion,
would follow roon.
une per cent ahead of cars has been one of the most Government economists were
Last month's sales were the 1958, in virtually all sectors of sensational features of interna- beginning to show
worst September since 1951 ex- consumer spending so far were tional
INSURANCES commerce since World pessimism in Bessing the cept for last year when the re- considered the grain promise of War II. chances of the economy, They cession cut the daily sales aver- a full resumption of the U.S. said the steel strike, by lasting age to only 10,240 cars
economic boom once the delay- more than two months, stopped The softening of the marketing action of the strikes is swept the nation's overall economic Ward's Fald, was due to the aside.-UPL growth and began to pull down
the general level.
Total Output
Whey tentatively That the total output
more
estimated goods
of traves-
A
rks from right to left. photo-electric cell
Bytit 106
lighting, says the firm, "eep Folenoids to change tape dires-annuat in the previous
period
Bg from left to ght across and grace.. in July, August the beads and odu numbered and September-the
covering two and a half months of the strike-remained at thei
rate of $484,500,000,000!, ported
three months. This is known as the They The machine is provided with ass national product,
[admitted, however, that position ate statistics-especially on in-} automate-start which causes fast spong ventories may show that the the correct end of the selected U.S. economy actually sild track, then to reverse and playbackward from the April-May-
tivating the interest and enhanc- tion and move the heads to the Ing the visual intel of modern | and ancient architecture,
The technique also combats a criticism often raised against the Bloodlighting of buildings, nume- ly, that the spectator appeal i5 short lived after the drst switching on.
The enllege being used for thr demonstration is built of grenile which has good reflecting pro- perties, The principle features far floodlighting
strong arg
and vertical lines of columns pimueles decorating the top of the facade.
Here radio controlled "Anilume" will be used to sug- gest the bulking's appearance at different periods of day and night sunrise to moonight-the effect being achieved by using different banks of Bloodlights and varying colours.
The theatre is a much smaller building iending itself
to pectacular
By colour effgets. and fairy ghts, "Anilume" is expected to capture the varying moods of the theatre in a light- ing
representing dance, mystery and storm."
sequence
The hostel has twin elreular towers and occupies i cum manding position, The object of the "Anilume" demonstration here will be to show the in- portance of directional ghung and the way
In which colour can enhance eurved structures restrabied but effective in u
manner.
Mill Stones
For Industry
next track,
an
that track.
Pugh buttons give stari, fas! spooling in either direction and stop in addition to the Auto- start position. Operating the "start" button will cause machine to start normally from the position at which it stopped.
A three position switch
an
The
IS
ON
Jums level.
some
There paleutations were more
Hectic
Boom
On London
Stock Market
London, Oct. 11.
SENSATIONAL
In the first eight months of 1959. car imports by countries
were:
Was inoce But the Treasury tan pleased with the response, And the bond market perked
The new issue sold at premium of a full point at, onu time and better demand Was noted for other bonds.
a
10 appro-
ximately $1,910,000. Neon quotation? ond the morning's transactions:
Shares Buyers Sellers BANKS BI Bank. DES DOOS
Sales
2120774
this
GO 67 095
Union
There were indications might be the top of the current money squeeze but the penalty of easier money might involve of business some curtallment expansion.
The bond success steadied the United Kingdom, 148,366 vars
also got value at $183,503,000; West Ger- Stock market which valued at many, 132,140 cars
some help from buoyant France, $154,583,000;
111,532 London market which
cars
valued
a
soured
at $82,253,000: on the sweeping victory of the aly, 34,250 cur valued at Conservative Party. $37,528,000; Sweden, 10,687 cora Gains appeared in electricity steel valued at $21,078,000 and other output, car output, and countries, 4,006 units valued at production. Car loadings and $4,338,000.
coal output declined. Retail
SHIFTING
$2
Waterboat..
29.80
Wheelock
5.40
6.45
DOCKS, Eic.
K. Wharf
121
Dock
Provident 14.00-14.30
ས་
*
1500
10 7095
300 14.30
50 14.00 1240 14.30
230 14
35.75 900 35.50
1500 371⁄2
1800 32
102 Lats
Taikpo
LAND, ETC.
-
3525 35.75
HK Hotel 3115
JAK Land..
4
2014
200 30
200 nr 28
18:00
Car Imports from Japan anek trade showed reductions in
separately some sections. Building slipped Humphrey+
were
Canada
nut tabulated, bul
were included back among the imports from "other countries". Japan is trying get a larger share of the United States and Lalin American "small car" market.
to
STRONG SPOTS
issues
The so-called space dominnied the trading in the stock markel, Russia's new moon circling rocket brought
In August United States im- talk of Increased spending on ports of automobiles numbered missiles here. The electronic 47,500 unity compared with, issues stood out all week. Other
strong spots included the alr 65.241 in July and 60,231 la June
crafts which make the missile The downtuan in August had and the makers of rocket fuel.
expected, and trade ex- Airlines got n whirl when
1959.
One of the quietest and dullest general elections of the century produced the most hectic boom on the London Stock Exchange in its 275 yearsrts do not consider it as reces- September reports showed sub- history.
pessimi: tie than curiler fore- custs made on the assumption that the steel strike from pre- dieting how the US. economy might perform in the last three months
This your. Some
I has been a week guessed it would forge ahead
mills once the steel
resumed conditions rising to
tof
.
Govt Order
£
500 13.50
UTILITIES 1.75 £725 20000 1.70
30 D0.75 150 31,
Tram
900
2000 30.75
Star Ferry Yaumati
134
500 or 10
121
123
200
152
1500 12
200 1 122Z
C. Light
18.30 18%
2800 .18.60
Eletric
AG.. 12.80 13.10
6000 or 18,
500 18.45
120 18
200 6:28.40 1000 2430 1000 or 26.20 24.10
2500 or
24.20
STORES, ET75 30% Dairy XD. 20.40
in surity indicative of a long-tenu | stantial guins
tir travel, trend. The Americon
The public Some of
papers moved hasbeen awaiting the appeer-higher. Late in the week ance of the new 1960 United soft drink issues were bid It States automobiles, especially Oils sugged to new lows on
the so-called "compact" oars, and a seasonal deferment of pur- chuses as normal,
300 12. 1813
the
up.
Macso E TEL INDUSTRIALS Cement
10.00 30.25 30.76
1300 g 30.75
200 41 28
300 6119.90
500 20.37
20.30
24.80 25.20
100 v25.20
000 Gr 25
--
0.50
4.56
COMPETITION
of boom dustrial ordinary shares
rose dizzy16.1 points on Friday alone and the drek of the instrument operations but carlier con-clienX on Friday when it be 23.0 points en the week. gives, un replay only maching|fidence that steel and steel-came clear that Conservatives closed at 284.7. On Friday in "off", an output of 1 MW at using industries could make up were back with a big majority.
¿titutional orders for up to C00 ohms and a 2 output at for the strike losses with brisk The curious aspect of the whole 100,000 shares were reported.
It certainly Oeleber November December business has been that almost
appeared as any desired impedence. in, the Jatter position
internal activity was missing.
operators
the lenew everybody who likes to express market
elections speaker can receive the full 2
on election outcome of the an opinion before an
electors Sifter before the
competition between watt output or give a low out-
jorecast
contest Monday a very close
went to the polls on Thursday. domestic and imported cars is put for monitoring purposes, I
with either Labour or Con- the power is removed from the The best that could now
beservative winning by, a small machine it cannot be restarted expected from the President's
margin. order sending the half a million ja
Yet day after day this until this switch is returned to
week London brokers past steel workers back to work for uz the or position and then re-set
from 80 days was that
the to either of the other two posi-
uverall received cods of mails. damage would be kept down. small buyers also over Britain thuns. On a record-replay (17-- chine ther, is a four position It was generally conceded that Insisting they buy, buy switch,
fourth giving in the
working under a govemment buy. position "record."
All the electronic circuitry is transistorised and supplivd via transistor stablising unit giv ing twelve volts. The machine can be supplied for
operation
the
from 28 d.e. supply (for ufrcraft use etc.), or by addition of u separate power supply unit, from any standard mains supply.
Pocket-Size
GLOUCESTER firm which Transceiver
New York Cotton Market
New York, Oct. 11.
SO
and
be
STEADY DEMAND
expected during 1960, but experts mentioned the following points which will tend to maintain the Gilt-edged while
relatively
volume of imports: (1) steadily quiet have enjoyed a steady and Improving organisation of sales
demand and closed
and service facilitler within the persistent the week frm and all well up: United States; (2) style and Foreign bonds were almost ignored.
tax selling and then came back from their lows.
Railroad issues held in a very narrow range, Steels firm- ed after irregularity in several
sessions.
Drugs had their strong spots 45 did the tyre issues; many special issues showed good gains While some encountered culties.
dim-
WEEK'S SALES Sales for the week totalled 11,662,845 shares, o dally aver- This age of 2,372,500 shares. compared with 13,638,990 shares or a daily average of 2,727,708 shares in the previous week and 10,104,040 shares for the week-- 3,820,988 shares dally-a year
ago,
Industrial The Dow-Jones
The week at average closed
railroad 636.98 up 0.41 point; 158.67, off 0.10; utility 87.83 oft 0.03; and GS stocks 212.33 off 0.37.
Dollar stocks which novelty of foreign cars; (3) high MOST POPULAR
had been bought for hedingmileage per gallon of gasoline; (4) participation of United States Sicel shares were the most purposes were neglected and
capital and technology in some popular yet the most vulnerable eased with Wall Street and on
of the European manufacturer of all if Labour won and nation- Friday they were forgotten
planis: end (5) demonstrated alised the industry. G-edged with the result that the 23% performance of the foreign email 100 were in demand. Jobbers per cent dollar premium_shrunk
cars already on the American did not heed the signs and all rapidly and disappeared.
Leads, and smaller parking and week long cleared their books Mining markets were over gange space required.
that they would not
shadowed all week but in the The year 1959 will be long- caught with stocks on Friday if latter half gold mining shares remembered as a transitional the Labour Party won.
received sufficient selective sup-year in United States car his- Consequently on Friday when port from Johannesburg. re-tery. Through the last five it seemed as it the whole na~|portedly
American Motors with sale: mainly on American | years the Jarger American
of 203,300 shares led the market tion had rushed in to buy the account, to push them up. Other manufacturers were reluctant jobbers were caught with empty mining shares remained flrrn. to believe that small cars, of in trading volume. It rose from shelves. It was only the sale The market in oil shares was European types, would have a 57% to a now high at 64% and Cotton futures ended the by profit-taking Interests which little affected by the week's permanent attraction to Ameri-xt the week at 021⁄2 up
week on a note of firm- enabled them to do any bus-boom. In the latter part of the can motorists. Trade papers 1% points from ness, climaxing what was ness at all The higher they week they suffered from Ameri- often otherwise a period of put up their prices to
dis- can selling, quiet and mixed dealings.sistent the buyers became.
courage buyers the
more in- Rubber shares were in favour all week along and made steady result was Chat At Friday's close the list ruled
the headway despite activity in the 7 to 21 points-35
Index for in- 'marioet being small.-UPI. conts to Financial Times $1.35 a bale-higher than the preceding week.
Interest concentrated in the worldwide reputation as milling transceiver which slips easily nearby deliveries while engineers, Iron founders and into a breast pocket. It is crop was generally neglected as electrical engineers.
designod for use by airfield traders wondered about the AL the moment, they have guards and widely dispersed chances for some
brgistalion, sumcient orders for milling maintenonca érowe, stones to keep the department
A has been manufacturing
mill stones over since it was
TO
founded '55 years ago, now meet military require- claims to be the only firm ments
manufacturing them in the U.K.
lightweight
for on ultra- system which guarantees the security of cli messages exchanged within an airfield perimoter a U.K. turing mill stones, now have a firm has produced a 15-ounce
The firm, which
founded is business
originally manufac-
The security of all messages
fully employed for the next six is achieved by means of a con-
new
new *form
The absorption of mitod de- livery notices against the Octo-
months, and well over 75 per trolled radiation loop system contato and a belief that
cent of the mill stones made by developed by the firm's the Arm pre exported. The
majority Are sold to Persia;
gineers.
est-
the taken up on trans- ferable notice will not be re-
The transceiver has an in- tendered this month, imparted a stowed telescopic nate of relative strength to the and It! rechargeable central belt, traders delt.
Jordan, Iraq, Ethiopia, Sudan,ternally Ecuador and, Mexico. They are aerial also supplied to other parts of battery gives eight hours two- the world in smaller quantities way speech. and in America and Canada
Transmitting on low
fre
communi-
Crop newe continued mostly
on the favoumble side. The de terioration which jook place in
they have been used in special quency and receiving on ultra the Eastern and Western bells applications. Mainly, they are high frequency the employed in the crushing of stallon can call and whont, cereals and spices or cate with up to fourteen Abrous materials.
dividually coded outstations, On group call there
The millones manufactured
Controluccause of flood conditions and Excessive Tains was oftari by improved conditions in
180 cerium belt, traders felt.
In-
con
by this Gloucester firm consist (be diimultaneous communication of a composition of emery and with any number of hand In- chemical bonding maturlis
l'atribulb.
The Movexninent's third crop estimate of the scuss was about
In line with expectations--UP!.
The
Britain is working harder
23.5 MILLIONS-
EMPLOYED
23.0
INDUSTRIA PRODUCTION 114|
1054100
112
110
109
106
1958
1959
2164
FMAMJA
London Zatrésa Nerviós
the
week
the previous 10 referred skeptically
Galus in the electronles rang- "the small car craze" and did
ed to ii points in Litton. not think it would last.
Du Pont and General Motors started the week on strength TURNOVER
following the Court decision Generally, the United Stutes aftor the close last Friday per- that | mitting Du Pont to keep Hy 63 Industrialists speculated
lo small million General Motors shares costly luciover models would not be justifled wilbout voting rights.
રી billion two added unless imports reached 500,000
of their cars annually. As imports as dollars in valuation recently as 1954 were only 34,500 listed Issues that day, fell Chis, many experts thought that from the highs, and moved nar- the half-million figure was Ime rowly the remainder of probable,
week. Du Pont guled 1% Now that imports In 1959 ore points on the week.-UPI, certain to be well above $30,000 the relative merits of large, middle-size and small cars will
be
D major factor in a com- petitive "battle royal" in coming years. For 1060, the most signi- ficant marketing test will be the bolween the America and forelgri sill care-UPI.
The
Bank Of France Statement
the
Paris, Oct. 11. The Bank of France state- merit for the week ended Octo- ber 1, reads as follows:
France
Agreed Merchant 21217 21
Rates
Savius Femocje rýsosinium golling 70%.
Watson I Craw COTTONS
Taxxim
- 500 # Bjo
1000 @ BAS 11:00 8. 2000 6 8.5
17000014
Nanyang
14.00
500 12 14,45
500 24.50
MISCELLANEOUS Vibro..... 13.80 INVESTMENTS H&FE
Invest
8000 14.20 0000 14.07
11.00
560 m 12
CITY LIGHTS
"In this once, Perkins everyone must be able, i necessary, to do the other person's job-“
London Express Service.
Bank Of England Statement
London, Oct. 11,
The Bank of England state- ment for the week ended Oct. 7, reads as follows:
Notes in circulation £2,308,043,433 Public depoel .....
Privala depovita
Goverment securities
Other securities Receipt
Ratio
12,011,127
204.7293
300,704,3530
20,414,104
17,109,542
Exchange Rates
Businem was done in the local Total other currencies. 10,080,376,254 | unofficial: anlange market
morning at the following rates: Blght balance in EPU 20,430,000,000 Toll blus discounted 1,477,472,108,305.B. dollars per 1)
··Sterling notes (per #1) Do Banknotes In diffokita»
(23,600,348,814:180 Australian hotas (per 2 fion
Indonesian tilplah (per 100) Current accounts and
deposite
304,013,194,022 | Biarn ticala (per 100)
UPS.prpore (traktoj
15.92
12.01
3.00
25.90
141
1