Page
SCIENCE AND
THE CHINA MAIL, MONDAY, OCTOBER 26, 1959.
Weekly Survey Of American Economy
ENGINEERING SIGNS OF BUY AMERICAN'
New Type Liferaft
DUR
Of Bid To Stop Unfavourable
For Airliners
URING the first six months that a new type of airline liferaft manufactured by a U.K. firm has been on the market between £40,000 and £50,000 worth have been sold. The buyers are Qantas Airways, Tasman Empire Airways and Aer Lingus, who placed orders in spite of strong American bidding.
The dealgu. which incor- porates a number of advanced features of Interest to those con- cerned with airline passenger safety, has been approved by the British Board and its Australi equivalent, D.C.A.
Air fiegistration
The major feature of the new rot is that it is reversible so
that whichever way up it hands in the water it is ready for use. This facilitates boarding Thich can be spaced will sides simultaneously.
There is
Precision
Clinometer
|
Balance
Of Payments
New York, Oct. 22.
While courts wrangled about the legal aspects of a Taft- Harley law strike-ending Injunction in the 15-week steel walkout last week U. S. economy suffered further and voices were being raised about the need for some more effective strike-settling machinery.
As a secondary nflermath, due | to legges of American steel ex- port markets to foreign manu- facturers and the generally un- favourable U.S. balance of
payments position which has bren dralaing U.S. gold reserves, steadily, signs of the old buy American" spirit began to appear again.
Only Way
The steel service centres built, tributions by Europe and Japan up 3,700,000 tons of industrial to defence systems heretofore stocks in anticipation of the largely financed by the U.S. strike, Inventories of inclus and curtailment of the Inter- trial stock, now aro estimated national Co-operation Adminis-
around 1,500,000 tons.
tration's expenditure od bout $500 million for goods produced Production this past week called for
plans for Detroit in foreign countries.
the Iban first reduction by mote 20,000 urilts—after only a Tow works of steadily growing 1000 model output. Heavy cutbacks
"put-an
at
at
too,
Cotton
Goods
Improve
Sharply
New York, Oct. 25. Sellers of cotton grey goods this past week ex- perienced the best days seen since the end of World War II.
Buyers scrambling to cover en a wide variety of goods found spot and nearby supplies gener- the ally unobtainable.
trade
The Committee for a national trade policy attacked the "buy American" rule attached to development loan fund "perious retreat in U.S. policy."
Ú 60
Most of the activity was on It said that although apparel-type fabrics. The pro- it was "avowedly an effort tolonged steel strike put a damper
U.S. balance of
on the situation for wide in- improve the payments
situation, the policy dustrial fabrics. tay well in the end have the reverse effect by tis acknowledgment that American
implicit
good can no longer compete in the world,"
High Cost
machine
But even there, mills were not overly concerned, since they are resting on big order back- log.
Mill
agents indicated ав wide
a urgent demand for
cloths, along
drills, twills. Cord and suitable for
the
A Taft-Harley 80-day resump-in Chevrolet assembly Hnca will tion of steel operations seemed offset six-day operation the only way right now to get Ford and Rambler for steel mills rolling again. While ostinated total of 113,000 the Government, industry and assemblies, down 20,500 from MICROPTIC precision labour ali realised that it was laat week. Truck output, clinometer which reads unlikely to produce a negotiated will drop from 24,000 to 21,000 direct to one second of are settlement and that a new strike
Meanwhile the spirit of "buy and with estimation to 0.5 in January was likely, the press.
through its editorials, mado it American" began to be revived second over an angular range clear that it felt the nation in some quarters as n way of | of 0-360 degrecs is a now should be spared another walk-stopping America's current un- The high cost of American also a special boarding ramp for instrument produced by a out. It called on the Govern-favourable balance of payments produced goods was the reason variety of print
armual, deficit of some for
with broadcloths, Singer BOWITZ firm ensy entry in an emergency. U.K.
of scientific ment and Congrere to
billion-und teeth" in the collective bar- $4.5
the steady company's plans to inove much sheetings, Bedford instrument manufacturers. AUTOMATIC
gaining procedure which in the drain on US gold reserves. of is cheaper-model production duck constructions, 1. multable for inspecting current steel strike proved so, The Brst official indication of to Scotland and Germany to be manufacturer of tarpaulins, Inflation is automatic on hit-angular surfaces and gauges, for Ineffective.
this was the "buy American" able to compete better with Price-wise, the market ple- ing the water and takes only locating Jes and Axtures, and
clause which the State Depart- Japan and European competi- lure was dominated by 17 seconds.
The index of industrial pro-ment's There is also a for selling inclinable tables on
foreign aid agency tion on the world markets. metal infintable canopy which lig-boring machines and angular duction dropped to 148 per cent attached to funds loaned out by The industry argument that historic market leader. Average
"eighty square",
the print.
and provides shade
(the September permits work on grinding and lapping In
1947-49 the development loan fund. | further wage increases Would
make "eighties" sold up to 2031 ventilation
Inclinations in hot climates and machines.
average equals 100) from its Then new restrictions were im- price US. Steel experts out gives protection and insulation measured by reference 10 the Juzne peak "of 155. A
cents a yard, up 1⁄2 cent on the further posed on Japanese made stain- of the world market is one in extreme cold. This canopy is horizontal plane, Indicated by an drop of three to four index ¡less steel dalware.
week and the highest price in of the reasons for the utter jet inflated and self erecting (in incorporated epirit-level. Re- points. In October was indicated. Among new propoenis that stalemate in the overlong sicel almost four years since Novem-
ber 1955. only 20 seconds and permanently petition of bubble settings to one It now seemed likely that the are being discussed are
con- strike.-UPI. anchored by central pillar as second of ore is ensured by an June record level will not be well as being secured by aixoptical coincidence reading achieved again before the end of columna around Its elreum | System and a slow-motion sel- the first quarter of 1060. ference.
Ling control.
Personal Income received by Americans fell off in September The raft is constructed of The circular glass scale is although it was still sharply strong lightweight synthetic totally enclosed .and the aband of
September with an eye to weight-micrometer microscope eliminates | September income conscious airline operators, and any eccentricity effects in the is available in sizes up to 20- circle by automatically averaging seater. Double alr chamber sub-divisions made on two sides construction is
The additional
microscope safety factor.
eyepiece is inclined at an angle of 43 degrees and is rotatable for convenience in viewing.
fibres,
of the circle. 201
The manufacturers are also at present negotiating with leading
The steel base of the instru-
square to cach
European and Canadian airlinesment is lapped, with two sides for the sale of the ferafts.
A new type of twin-chamber life jacket produced by the some firm has also been selling wall since arriving on the market. Orders have been received valued at £10,000 in the fast six months.
other for re-
Three lapped ference purpose. supports on clinometer enable it to be used in the horizontal position. Optional accessories are a work- table for measuring angular dis- placements of small parts, and Can adjustable reflector which, in conjunction with an autocol- Ilmator, can be used for selling out angles. Both accessories are Interchangeable with the spirit
the back of the
VARIOUS TYPES
life-saving Various types of equipment made by the arm are used in the Comet, Boeing 707,level unit, the Viscount and the Friendship and are to be used in the Avro 748 and the Vanguard.
saving
The mleroscope - rending system and the spirit-level are Mumincied by repárate low- A transformer voltage lamps. The company has spent the for 110/250 valt ae. input is last 15 years
concentrating on available. The instrument is air-sea Hfe
equipment
Inches long, '0 inches wide, and and has suppled about 50,000 | 12 inches high. It weighs 10 lb. life Jackets and more then 1,009
(Hilger and Watts Ltd., 08 St bables' footing survival cols to Pancras Way, Camden Road, airlines all
over the world.
London, N.W.1). also made every They have "Mae West" life jacket supplled to the British Army since the war and recently won a contract to supply the Belgian Army with inflatable liferafts. They
are
X-Ray Scanning
also active in the mutine tereft Microanalyser
Beld having produced
about
2,000 for both hume and over- seas markets.
(Beaufort (Air-Sea Equip- meni)
Beaufort td,
Road, Birkenhead, Cheshire, England).
Temperature
Controller
A
NEW U.K. temperature controller is claimed to provide completely, reliable ond extremely accurate
|
"Was
1958.
at a
seasonally adjusted annual rate of $370.5 billion. about $400,000,000 under the August level. August, in tum, had been same $2,000,000,000 under July. Even so, the Department of Commerce
reported, personal income for the first nine months of this year Tan at an annual rate of $378/100,000,000 in the similar period of 1950.
Income More
If the rate of the first nine months could be continued, the 1950 income total would be more than $10 billion above 1968. But after the steel strike, that was an unrealisable "R.
Official sutisties on layoffs duc strike were only to the steel available up to October 10. This was woefully tehind the times in view of the rapidly mounting toll, especially in Detroit yet they showed the trend. In the weck ending October 10, 280,000 workers
were laid off, 54,000 more than in the previous week. In Deirolt, the figure was up- wards of 80,000 most of it in General Motors, and rising daily. Republic Steel, the industry's
largest
fell producer,
third
WALL STREET
TAKES A SEVERE CRACK
New York, Oct. 25,
The stock market had its most severe decline in month during the past week with volume at new high since September 25.
HK OUTPUT SOLD
Premium make "eightlos" brought 211⁄2 cents a yard in secondhands, and in one case a cente a yard premium of 4% was pald for quick delivery on a small lot of combed brondeintha,
Charting the steel rush
STEEL SHEET PRODUCTION "
VERAGE, WEEKLY, PABOVETRIN
1958
1959
1955 || 1956 1957
Steel sheet is a vital raw material, Record sales of every- thing from cars to refrigerators have made it the busiest end of the steel industry, This graph shows how weekly output has been pushed up and up to keep pace with demand. The steel mills are running to capacity. Extra supplies are having to be bought overseas to meet all needs.
London Express Sarelce.
London Makes
Fresh
Gains
During Week
London, Oct. 25.
The weight of funds available for new investment is still the driving force in stock markets which have made fresh headway in the past week with theé volume of trading still sustained at a very high level. A little irregularity crept into price movements in the last two days but the undertone remained very firm.
*
Usera of soft-filled sheetings. who had hoped to, get imports from Hongkong, were disap
Industrial equities continued | craft shares · were generally pointed and had to cover in the to be the most active market | weak under the influence of the local market. Brokers said the and
the Financial Times sharp fall in profile of Faireys, small output in Hongkong had ordinary share index advanced Stores were arm. Enginearing 4.8 to 294.5 after reaching the and electrical equipments were of 200.8 on buoyant markets. Stores were
trong.
been sold-Up.
Hard fibres featured steadi- all-time record |ness in burlag, reflecting stability
of the Calcutta market and the
Wednesday.
Gilt-edged have beca strong
a anticipation of renewed buying this past week, attracting buy
there fat Argentine account.
Oil
GOOD SUPPORT
tharet
Were
a Hemp dealers reported more in- ers because of their currently and tho general quiries from rope makers nt-high yields,
uncertain under the influence of _Wall tracted by the recent decline in feeling of optimism that the re- The decline was attributed to Jones industrial average, off prices. Rayon grey goods buy-cent period of price stability Street but there was some local the deadlocked steel negotiations 10.15 points on the week.
ers noted tightening supplies and will continue and that an in- investment buying which pushed on Friday, when it appeared us
a firming price trend--UPI. crease in bank rate is unlikely | up somo lasuci, notably Burmah if the negotiations would be re-
for some time,
which galaed two shillings on sumed, the market made a swift
the week. come back and regained all of Thursday's losses,
#1
But this recovery, though amounted to 7.48 points in in- dustrials and 2.03 points in the rails was insumclent to bring the market up on the week. I closed at $39.07 in the Dow
neurly $23 millon into the red Noon Stock Exchange
during the third quarter as a
direct
result of
the strike.
Youngstown Sheet and Tube Quotations:
Co.,
sixth-ranging in capacity, showed a
$7.1 million. Toods,
steel
of
Among the rail- and Ohio
Baltimore,
NEW X-ray scanning blamed the steel walkout for a microanalyser was de-net income in September of only monstrated recently by a $231,000, compared with $1.0 U.K. firm at their research million in laboratories near Cambridge.
The dret prototype instrument was developed at the Cavendish | Laboratory, Cambridge. As I
promised to be a most powerful research tool for the metallur- gist, the firm's scientists have designed a microanalyser speci- Beally for work on metallurgical problems.
1955.
t
ISC
pace.
the same month of
1043, Sales·|
The ralis average closed the week at 156.95 of 3.04 points; utility 67.45 of 0.70 and 85 stocks 210.84 off 3.22 points.
TOTAL SALES
Sales for the week totalled 13,880,006 shares, a daily aver- age of 2,777,301 shares, against 11,543,106 shares, or a dally average of 2,300,621 shares in the previous work.
The Inading autos finished with losses.
Chemieni lastes receded withi Du Pont off nearly three and Union Carbide down 51⁄2 points. HK Bank-E 2033, 1043.
of During the week, a total Lombard-1 41. Wheelock-B
of this a. s 7.10. Bales 1.413 issues was traded.
432 game, 811 declined and 170 7.05. 1410. 7. 2.15.
K. Wharf-B 119 12.
|hold" unchanged. A total of 43 Dock-834, 8 153), Salem BASS, 65, Talkoo-B 38 5 2014 Bales as, issues made new highs for the
year while 129 made new lows. Provident-B 1470, $ 14.30, Balor
30.
14.80.
Kumphreys-H 19.00, 19 19.00. Realty— 1.70, 8 1.73, Sales RŽRAS. Tram3 318 83, Sales 117%,
Star Ferrod 132, Bales (32, 133. Youmail--3 128, & 127, Sales 126,
Aside from the news of steel and corporations relying on steel, most news of the market place were favourable.
IŁ included
many highly favourable corporation reports and several stocks aplits were
C. Light-a 2020, 8° 20.30, Sairs | announced.—UPI. 2010, 9030_30.79.
Electrio 25.000, 1 23.80, Bates 201 28.00.
Peetria R- 14,40, Balm 14. 140 1440
Retailers Restless
HK. Hotel-B 33, 3 231%). Bales: 33, Retailers were growing rest- 33% Jess as fears began to material | 30%, 50%.
ILK. Land-B 3, 8 3811⁄2, Sales 38, that shortages of al- sorted steel wares will slow down what up to now has been a generally brisk sales The certainty loomed An electron beam focussed to
before them that as stocks of certain appliances vanish, oven a diameter less than one micron
en imarwisinte end to the atrite scans the specimen surface in a
will not replenish the stores in
Telephone-B 31%, 8 M1%, Balen similar manner to the beam in a control of temperature over television tube, but rather more
tema for Christmas shopping.
These
were some
Ceniza 3714. 8 315,Bules 27 typical any required period.
closely. X-rays are emitted by the
quotes:
tui 1-0 1:19. surface
when atoms The equipment is so highly irradiated by this beam, and en
A manager of o San WE 14.00. 5 15, Bales 1400, stable, the makers state, that it analysing crystal is
used to Francisco applianco storo: "I've (1, will, for example, hold a well-
select the emission from any
then three Zano, Craw- 2430, 5 353%, Bates spent more time designed furnace at a pre-set chosen clement present. This weeks buying. begging, and Rubber 3.80, 3.70, Blos temperature of 1,000 degrees emission Centigrade to within plus or the signal used to modulate the have selling it."
is then detected and pleading for merchandise than 12.00, 2.0816.
B. Tribes 416, Bales $14, minus a quarter of a degree C brightness of a second electron
A Cleveland department aver an Indolnite period. It is beam scanning
RK E Env.30 а flourescent store official: "A couple of Text-39 0.45, so reliable that during a period
screen, Since both beams pre weeks ago I would have guessed | 9.20|_120, of four years, Bfty-six instru-
scanned in synchronism, a pie-sales for the entire year would 14 NATO-13 20:00, 5 18, Baler 18.50. ments in continuous use broke
ture a “painted” on this screen, be up five per cent from a year That Dopk-2 1 down for a total of only three exhibiting the distribution of the
Xmous B-15 LE, gaine 11.40. sgo. Now I don't think Hours. But even this minute clemont selected over the area we will reach that figure,"
AMK-8380, 2° 1.70, Bals' 1.80, breakdown in the Brst instru- being scanned of the pealimen.
A Detroit appliance store gents due only to valve failure
This X-ray image can be com~ | owner: "We
in trouble, will be guarded against in the pared with an electron image there is no doubt about that. gresant production models, sa all formed simultaneously by Now 1060 models which should equiptment to be marketed wil be fitted with valves specialy pre-aged for 200 hours.
The squinheit was originally developed by $12, steel com pany for their own use in con- trolling thou temperature ji u creep furnace
SKIE
24.40.
Jalen 9.45, 1.00,
1
U.S. Living Costs Up
New York Cotton Market
New York, Oct. 25. Cotton futures trading this
past
hobbled week
of the through one slowest periods of the year but managed to show small to moderate gains most of the time.
At Friday's close the list ruled 12 higher to five points. lower, or 60 cents higher to 25 cents a bale lower than the preceding weyok.
For one of the very few times in the history of the New York Cotton Exchange,, the market on Friday posted no sales on the opening call.
BACKLOG
·
This new-found buoyancy in the glits market permitted the
CITY LIGHTS
2/6
'They're not interested
in a take-over bid?"
London Ezpraxi Servlet.
authorities to release this week the first gilt-edged issue from the
It was & long queue. Middlesex County Council offer
The mining markets have en- joyed a 50 per cent increase in furnover last week as buyers soarched for adequate returns
as the yield level in equitics fell. Most of the mining issues with pretensions to investment merit have had their quota of increase in the support. An commodity market price of some of the base metals, notably cop- per and zinc, has also helped.
The Kaffir market, however, has been rather a mixed bag with support from Johannes- Relective. being very bung Finance houses have received Central most support, led by Mining. The quarterly reports. have had influence on special issues.
The rubber market has been very Arm all week--UPI, ··
Bank Of France Statement
Paris, Oct. 25.
The Bank of France statement
reads as follows:
of £10 million of a 5% per for the week ended October 15, cent stock redeemable In 1980 and oriced at 974.
EQUITIES UP
While buyers lacked decisive ness, sellers were equally cau- tious in view of the glowing reports on business coming from the drygoods trade. Washington, Oct, 25.
Because
the mounting Living costs in the .D.8.
The industrial equities climbed to an all-time high in textile order backing traders September. the government counted on a broadening de-market took a second fight up- mand for raw cotton to All the ward last week led by the blue reported today.
textile ardoes, Ingroover, stock pa Early in the week oqul
ties were helped by the'opumis- rate replenishment at a faster was sggested because of the the Federation of British Indus low level of raw cotton stocks inteles survey of business condi
ślona; klar peredatient weakness of canaiming establishments....
Consumer prices rose for all major groups of goods and ser- vices except transportation.
Food, housing, medical care The and-September mill stocks Wall Strees was largely ignoran and personal services, all cost at 744,065 baics was only about Interest bentred more on the more, the report' aboved.
half of the 1,408,708 bales on market leaders and teel shares The Labour Department's con- hand at the same time last year. ceared to be the centre of In- wer price" indes fose four-Domestic conMinoption of all tross although most of them toniis of a point from August to raw cotion in September reports made net gains over the week. A September level of 125.3. The ed by the Denis Bureau, reath Enders is bewed, or, m: 1967-40 ed.80%,230 bales for 25 working
Exchange Rates: average of price taken as 100. 4ay 18% The contred
making use of some of the be arriving flow, e cerit in electrons that "bounce" back off very, very slowly." the specimen: This reflection
Robert G. Welch, Vice electron
reveals the President of the American Bisel unagu |surface topography very clearly | Warehouse Associations - "We're
and is displayed side by side manning out of gee. – InvÁRÍTOKSON Budisana was done in the spent with the X-ray image. for.com- of inchastrial steel productă în unalialai Clowns partner. Point quantitative steel service centres have now morning at the following smies:=20
UB dalars (per $1) (The Winston-United Steel opstries and a linear diatribų- reached the critical stupe. Starlings noves (per M61) Temperature Controller is mado | ilon Qiaplay, are also posible. the most criticni kreOS KÉO hy Winston Electronics Lids,
indonewsin" "rynjah (per 100)BIN (Tube Investments Ltd., Tas, Chicago, Cleveland and De- Shepparton, Middlesex, England), 4 Adelphi, London, (W.C.2), trait.
FL)
Shipbuildick with melked down on news of the
Tital gold holdings
ald Total other and Currencie
Bigtit
in EPU
Advance to tion Fund
cireula-
France
439.2252.107.277
9,912,100,473
934,380,000,000
ztro
Total bis discounted 1,45,810,030,014
MODA 3500 497,802 235 Banites in Current accounts and
deposita
345,704,803,240
--UPI.
Bank Of England-
Statement
London, Oct. 25.
state.
The Bank of England
The September inden meent 256,550,018 telesagandim 20 fall in orders for British shipment for the week ended October that a market basket of goods word day's turite September yards and sine shipping, sanren and services costing $10 day: Confption for the sand following sales of Had you a cade ago cost $12.39 Inst manib. last two months of this results, amongst which war | PARKER
oyer of the'i „uuw do (MA ÎN The Index has gone up in five August and September-reeched i. Cunard's passion
With the of the past six months. It dipped 1,879,489 balamforminst 1202) 320 | interline dividend, slightly to August after selling a bales in the saine period si motor; etios on', in London, acord of 124 in duly, HUPLJE AKCE NUPI.
de moter shares i did well. Alt-