•
SCIENCE AND
THE CHINA MAIL, MONDAY, NOVEMBER 16, 1959.
NO AGREEMENT IN SIGHT YET, AND NOW
ENGINEERING Effects Of Steel Strike Felt Discoveries Made "Anglo-Soviet Unemployment HONGKONG THE NEW YORK
Trade May
With World's Largest Telescope Be Doubled
THE
Berkeley, Nov. 14.
first successful observation with the world's second largest optical telescope was announced on Thursday by the University of California.
was
made Grent Andromeda Nebula n The observation
newly nearby mirror-image of our own Ja: month with the Completed 120-inch telescope at galaxy. the University's cbservatory an M. Hamilton.
Using an designed
by
electronic camera Prot Andre Dr A. B. Whitford, director1allemand of the Paris Obser- of the observatory, said the pb-vatory, the staff tumed the new the centre of the servation resulted in an Im-telescope on
Uses Of New
Synthetic Resin
known to astronomers.
الان
A which plays an in-stars at a distance of 25 light
In 5 Years"
A
In October
New York, Nov. 15.
Steel mills were getting back into production faster than expected this past week but effects of the 116-day strike lingered on and so did its basic cause both sides were as far from agreement
as ever.
!
STOCK EXCHANGE
Our Own Correspondent
Business done at the Hong- kong Stock Exchange this New York, Nov. 14.
morning amounted to aprox. leading British business- man forecast here today While partin) call-backs of largest eastern rail carriers and nately $1,027,000. Noon quota-
trade | Inici-of workers were being also the two.most affected by tlons and the morning's transac that Anglo-Soviet
stlit the steel strike, began recallin,tions: mightily be doubled effected by the railroads,
some of the nearly 20,000 ren Shares more autu workers were losing years in the next five
BANKS they jointly laid off during the their jobs. The new car mar-
The numbers of HK hank steel walkout. and that there was a con-
ket was very tight and not ex-
INSURANCES between
those called back were still in-
Unkn tinuing market
pected to get to normal before
however, at most Lombard... failures significant, Budiness the Christmas. both countries for
SHIPPING several hundred, can-
were the highest since the last of a
Wnterboot .. noxt quarter
recession.
in Unemployment
Meanwhile layoffs in other in-wheelocks tury.
October was high and was ex-dustries
General DUCKS, ETC. continued.
K. Whart all of its stopped pected to get near the 79 per Motors
Deck cent peak of the last recession passenger ent production, on In November.
bringing the total Provident Wednesday,
for
purtant discovery concerning the Great Nebula-ala known as M31 which in some two million
an address prepared light years away from earth.
to the delivery
Amertean M31 The spectograms
Management Association meet- showed that the nucleus of the
laxy wis ing, Mr J. B. Scolt, chairman of pinwheel-shaped
section
the of the Russian then the outer Potating faster
not previously London Chamber of Commerce, points- fact
he told American businesunen GROUP of materials | The new results indicate that believed the best contribution towards worid pener would be the centre of M31th development of world trade between the United States and croasingly important part in years from
every million the Soviet Union," galactic centre the jet age and has already make a complete trip around the
Scott MA
business been adopted for the space
Earlier astronomical observa- various high-
adver to the Board of Trade ago are the
during negotiations In Moscow from the centre of this galaxy strength synthetic adhesives tions have shown stars farther
inst spring which resulted in whose and rexins
make a complete revolution only
the current Anglo-Soviet trade range from the fabrication once in every 100 million years,
agreement. By comparison, the portion of of small propeller spinners
bonding of an air-nuir own galaxy in which we are to the
skin to its situated is estimated to rotate entire
around the centre of the Milky craft's
in 200 million Way only oner *keleton,
years.
utes
Among these materials is an epoxy resin (structural plastic) manufactured at Cambridge.
The use of auch
years.
was
of
to
fales Buyers Arllers
FOGS 1000 16 1000
84
42
05 5.75 1000 8.70
137 139 200 137 5716 581 1000 ca 581%
15.70 15.00 5495 se 19.30 1000 A 15.88
STOCK MARKET
New York, Nov. 15. The stock market got the news everybody said it was waiting for this past week - return of - but the striking steelworkers to their jobs prices and trading both ran behind the pre- vious week,
The market
Ford fell 3% on word the Ford Foundation was going to sell another two million shares of
Gencru The concuny's stock. Moters dropped 2.-UPI,
REDUCTIONS
staged a short- 12% and Chrysler a point, while lived rally on Monday fellow ing the Supreme Court's stel injunction over the weekend. Nearly all categories shot up- ward in heavy trading during the Arst hour, but prices worked lower the rest of the ecssion and finished about un- | changed on Cio day.
Ono market
expert said the list fndled to follow through | en
initial rise because there was nothing surprisingly good in the Court's setion,
The
milroad Dow-Jones finished the week
Industrials al 641.71 of 0.21; utilities 80.67 off 0.39, and 65 stocks 210.10 off 3.30. It Wis the first 3.75 3,00 1000 0 3.77% | general decline in prices
12 37
23 20%
Really
RIO
10.80
1.375
13.
Amais.
The pilght of metal. working Industries did much RUNNER to swell the October roster of frust anemployed-9,272,000 or six Bungalo per cent of the total force.
UTILITIES
TM .. Star Ferry Yaumall
1670 G NR
1000 3
**** **
GOD A 38
1000 U
2004 10.80
10000+ 1.40
20000 à 1.40 15c. 5000 180.
4.00 5.03
3.18
311 31.75
LAND, ETC. On the other hand retail sales of idle auto workers up to
220,000. Chrysler Inyoffs of aut UK Hotel scored new everything
continued Humphreyr highs. Judging by October this 8,000 remained the same while HR Land
have would
been the best Ford and the others
of short work for cars their policy
wecks. nutumn sales season
WEYD enough new if there automobiles to sell.
Steel output last week, when workers started going backt
the Taft-Harley work under Law, was the same as the week before 808,000 tons or 13 per cent of capacity. This past week, after ascertaining the non-use
This happened at a time much of furnaces, output wen
the year when unemployment Electric "I feel there is a market al Emaller than expected. The usually registers a sharp drop.
between
United least
the
steel industry was scheduled to
At the same time, the Labour Soviet Kingdora and the
turn out 1,300,000 tons, or 45.9
employment Department sald Union to the mutual advant-per cent of capacity.
of both for presumably
week, cximates called for a 60 ached an October record of 00,831,000, up nearly half o br years," nexi 25
per cent output with full promillion from September and Mario E 11.20 duction by about the beginning
even more from The previous of December.
age
The declared
yet
"The more we can do to raise the standard of living of new information for the
by
Prof. Whitford said the res sons for the rotational discon-
M3 are as izi synthetic timty reins in conjunction with glass-obscure, but the finding; provide cloth for structural purposes is important entially & development of the astronomers in their nileimpt to 200 million Sevlet citizens
of evolution past few years, and already it understand the
used in the manu-galaxies. has been
years of effort went of aircraft fuel drop facture
The new telescope. Lanks (notably, by Bristol), for into the radomes, Napier's Spraymat de project was started in 1947 when being system and in the metal the State Legislature made the honeycomb structure of the Vul-fist of the appropriations for which was the the instrument that now have 'can V-boinber
incorporating amounted to some $2.800,000. thest aeroplane this structure to fly in Great Britain.
Twelve
Grinding and polishing of the 120-inch mitter was started in "potted 1953 and completed cartier this Another use is in
elreults year. The Onal step in the pre- electrical circuits"
four months which are embedded in resin paration of the huge mirror was
performed
was
given an to be found in guided weapons.
ording aluminium
two-ml- Extensive use of the resin is when ale being made on the ground
Tonths of an inch in thickness-- where, because of
UPI. strength, negligible
its high shrinking Joperties and resustance to high
some
temperatures and solvents, is Compressors For
displacing metal in the produc
tion of aircraft foundry patterns, Mountain Sites
ixtures, $ze and tools.
Its dimensional stability--the
resin does not bend, break or
change shape if dropped-is best
A
£10,000
12 mobile
with
Bustrated by the fact that it is pressors
alreran
order for
air com pneumatic placed by Crack Covernment
STEEL DELIVERY
Next
UNEMPLOYMENT
labour
C. Light
of
October Nigh ut 66,005,000 recorded in 1957.
Nermally unemployment drops by about 5.5 per cent between mid- and at mid-September
would have
authorities warned. however, that it would be least six or seven weeks before the Industry could achieve any sort of balanced steel delivery
them consumer Steel exporting to Kords and the like, the
more wil ba
major
October. making a we
better contribution towards a understanding between our Iwo haw the cold ways of life which. If you like, must hein to war."-China Mail Special.
JAPANESE OIL VENTURE
The
Tokyo, Nov. 14. Teikoku,
leading Japanese oil company, plans to explore oil fields in Alaska next summer jointly with an Alaskan
company.
used with glasseloth in the cons tools has been
A spokesman for Japanese truction of free-falling, radiothe
company said today the com- controlled mode!
pany would establish a joint dropped from balloons at 3,000 with a British firm.
compressors are needed corporation with the Polaris The
drills and Exploration feel to test spinuing characteris
Company Incor- tics
Aircraft for operating rock a1 the Royal
sites in porated of Alaska for the ex- of oil Belds near Establishment at Bedford, and concrete breakers un
the Greek mountains, where ploration risewhere.
non- Anchorage. τοπος
frequently are existent.
The Alaskan company is now D demanded Specifications
State man-seeking approval of the of being type capable handled over rouch ground, Government of Alaska for mine spokesman and the Alaskan
company carried bodily by four men if lot rights, the
and rapidly dis- When necessary,
obtained the rights the Teikoku mantled' Into units weighing about 200 ls for transport on 01 Company would start ex-
ploring oil elds, he sald mules.
China Mall Special.
One of these models which was buried two feet under-
retrieved
1152 WAR ground damaged after one and a half
hours' digglu..
The resin is Araldite made by Dunford of Cambridge, England. -L.P.S.
New Ventilator
Sealing Valve
A
At the same time the com-
tb pressors had be powerful enough to operate the pneuma- lis tools at high altitudes with- out loss of power. The comptes- deve- sor type was originally
NEW type of ven-loped for British Railways 17- way maintenance and valvo has since been sold in increasing
tilator sealing
designed
specially
manent
for numbers throughout the world.
marine work is believed he complete unit weighs only
to have
A
much greater
field of application.
This entirely new product
588 lbs L.F.S.
for rapid closure of ventilator Sheet Steel
shafts and ducts has boen developed by a North of
Levelling
wood plug- tarpaulin method of
Innd engineering company to replace
in
new
schedule.
This
יי
127 128
201 20.70
... 24.00
LE
Bonus no
10
B 13.00
--
De
Ovarago
149.45 of 4.65;
three weeks.
TRADING
m
Trading again averaged over three million sharts per day 300 20.80 but
the previous was under
100 200
300 20.70 week. 300 50.70
13 203 or 24.00
total of the
1309 24.00 traced this 2016 24 10 advanced,
61823.79 135 held
1000 or 23.60
1,401 Issues past werk. 582 004 declined und
New samwenged.
200 23. 1959 highs were reached by 04
50 or 13.50 issues and new lows by 111,
1500 15.70
309
INDUSTRIALS Cerpent STOKES, Daily
33 38%
20.40 2000
2002 301%
4200 47 38
1000 20.50
300 a 20.40
300 ( 20.50
Watson
19%
L. Craw. 23.30 COTTONS Texile
14.30
of 12,000.
15 1000 14.80 1000 or 14,80
1000 14.00
meant a decline in unemploy-.
妈 risc thero was November statistles for men of about 186,000. Actually Nanyang
14.40
un MISCELLANEOUS
Vigo Last week's anticipated ton-employment were expected to
INVESTMENTS show a total of more than 3.6kFE
Invest million despite the hall in the reel strike. This would bring the percentage of unemployed close to the peale of 7.7 per cent registered at the height of the recession last year.
nage would be the largest since the first week of July-the last full week of production before the strike on July 12-when 2,252,000 tons were turned out. But it will still be far cry from the 2,011,000 tons produced in the comparable period a year
ago.
oth
Business failures in September were at 58.4 per 10,000 firms. the highest since
mid. recession level of 59.7 in April 1958. There was a sharp rise in failures in the construction
where busine
lack of structural steel and fight money is slowing the sales of homes.
RETAIL BOOM
While furnaces
in Were beiter shape than was feared, a highly competitive scramble developed for scrap and iron ore. Also, there was a pinch in immediate availability of railroad cars.
were
500 m 12.00
Bank Of France
Statement
Franc
Paris, Nov. 15. The Bank of France statement for the week ended Nov. 5, reads as follows:
Total paid holdings
Total other currencies Sight balance abroad
Advance to Stabilisa
tion Fund
tion
就
Rod deposits
IN STAFF HALTED
Colombo, Nov. 14.
The Ceylon Covernment has invoked its emergency
powers to stop staff ductions
proponed
59-
on
by
two British controlled Firms in Colombo.
grounds of economy
The action came after Агтя, Bayleys Limited Ceylon Cold Steres Limited
the and
by
re-
on
state
ok
On the
down a conuest The glamour issue-electromkw, turned alrernfte and rocket fuci Prime Minister Wijayananda
to witnoraw (makers-shot upward to counter Kabanayake
notices served the lower tretid in the blue- trenchment
slocks
about 300 workers and lo siny were Spacc chips.
their action for four months. helped by the Alr Force an-
The official view appears to of Dynamite scar nouncement
be that since workers ako Contracts.
from strike action Motors were mixed despite dibarred
the current sharp curtallment in pre- during
emergency it s obligatory duction and employment.
to disturb time employers not Is expected to be some
status quo. before the auto Arms can
A gazette issued last night get enough steel to keep
icon- their Anal assembly line in declared the two firms
with trolled undertakings” ventories at their peak.
view to preventing work being American Motors again was
intorrupted by
trade puly the most active issue with sutes dispute,China Mail Special. of 493,200 shares. It closed at $91% up 2% on, the week.
Price changes throughout the list ranged as high a 20% points in Motorola, as low as points in Granite City Steel.
ELECTRONICS
The
Other good gainers in the electronics were Litton up nine, Wagner Electric up 84; 1. T. €32.227,557,377 & T. up five;
Zenith up 5% 10,123,712396 and Varian Assoc, up 5%. The Great Lakes Iron ore. An Interesting phenomenon
254.757,000,000
Cena jumped 8% to pace the aircrafts
added Boeing carriers, awaiting the end of the of the US. enemy was that
105.700.000.000 strike, only just begun moving despite the depressing effects Total bilis discounted 1.375370256,040 34 and Douglas 11⁄2. Thiokol, down. While scrap prices have of the steel strike, retail sales Banknotes in circula
the rocket fuel maker, ran up been edging up over the past boomed to their highest level current accounts and
************** 3.405,888,214.315 54. few weeks, with the resumption in history. They
Auto mixed
section 345,710.200702
showed American Motors up UPI. of operations they jumped as pected to wind up well above much es stx dollars per ton in the $200 billion level at the some places from $15 to $51---
1959 with end of
Christmas as dealers became impatient to
acagon salce Betting R now realise the short-lived advan- (ERAL
record. tage they now have. They feel
The ComINETTE Department mills will have to rely more pa
Issued preliminary Águres for scrap for raw materials because October just over $19 billion, brought in during what little per cent above last year's
and the Arst time in time remains in the pre-winter lovel
on the Great US. history that October sales shipping season
have exceeded $18 billion Or that total durable goods stores The Lakes,
accounted for $6.4 billion, two non-durable goods stores for $127 billion Salos in October 1938 were $17,300,000,000,
not too much
ore can
ba
Pennsylvania and New York
the Central Railroads,
COTTON GREY
GOODS MART
The record October sales this
brought year
total adjusted sales for the first
month
to of 1939 ten $179.7 billion, eight per cent above last year.
Stock
London Market Review
London, Nov. 15.
stock markets were in excellent form this past week and with the volume of business reduced to manageable proportions and the daily move, ment of prices not so violent the market can now be said to be on a more even keel than at any time since the general election.
1
Chrysler Closes Assembly Plant
be-
Detroit, Nov. 15. Chrysler Corp closed its first
car assembly plant cause of steel shortagan at the end of the work schedulo last Friday.
can
Most other Chrysler Corp. divisions also were expected to be forced to close before · new supplies of steel now being made in the mills
reach the assembly lines.
The Layoffs at the Imperial Plant boosted the total for the auto industry to 224,940, most of them in General Motors plants, Chrysler said it now has 7,540 employees idle because of steel shortages and
General Motor
has about 217,000.
siderably this past week owing in part to the mid-no in U.S. history. An even stltations and a general shortage in the Industrial equities mar. Columbus,
$200 billion last year. The of stock resulted in arise biket last week has been the rise sume operations next week to
men
the
212.6.
Caution
quiet time before the Christmas rush begins.
Some of the blue chips have done very well chiefly on of the Bank Arrentcan buying, particularly of cautionary view Exuples, Fords, and 1C1. Slez- nt the bankers trical Equipment shores re-
which
Bank Of England Statement
The Imperial Assembly Line Motors to close because of steel was the fast outside of General shortages. It would send home 1,100 employees when Imperial assembly
Detroit in Plant closed. End of account prulli-taking on | gestion that they should be
All of GM's assembly lines are If anything like this rate is Monday and Tuesday was easily given a redemption date.
down because parts plants of Wednesday absorbed and by
The foreign bond market, the company
ran out of steel continued in November and
mast of the small losses had been was largely ignored. Dollar more than a month ago. Dovember this year's
sales
regained. Thursday, saw a great stocks were easier or mixed The first GM Diarit to close New York, Nov, 15.
total would be well above the expansion of business with large reflecting Wall Street.
because of steel shortages, the plant at Amongst the major features Tenstedt Division Activity in the cotton grey goods market slackened con- 1200 billion level for the first orders for business from the in-
Ohio, plans to rew week holiday and inability of mills to come up with {aweling flow of retail trade prices which pushed the Finan- in steel shares following news start buildup of parts spot and nearby goods in worthwhile volume. volume, in the United States is cial Times index of industrial of the record production level, would allow Anal assembly to
now about 40 per cent above ordinary shares up to 309.6, or Stores were very firm on the resume-UPI. Rated with the quietest weeks croased offerings of off-grade the level of just eight years all-time high and a long way signs that retail trade is still COMPLETION of a current
from the low in February of staying up in what, is usually of the year, the market never- | fabrics at concessions of three ago. ventiation closing The com-
precision Ivetheless maintained A strong to four cents a yard from frat-
CAR SALES pany has received the approval machine suitable for tone on prices, aided by the hand and mlil quotations Booming guio seles in October of the Ministry Transport,
dismissed mild stool steel strike settlement, plus the Market
gave big boost to the durable Norwegian Sea Control. Lloyds straightening
movement of competition as "nothing of com-goods group. Last month sales Register of Shipping and Norske sheets the light an satisfactory
garments and finished goods at ¦ sequence" but, other observers of US-made cars numbered
The GoverNOT Veritas.
gingering, furniturp
the wholesale-retail levels. sold they were watching the While the
527,000 the highest for any Oc- of England's marine industryfacturing motor
practice and car and
planned BOLIC
teber in history and a full 80 expressed.
• London, Nov. 15. will tenent most froc the
heen
action if it continued to grow.
dinner on Thursday night that covered on news of further big. per cent above October 1958.
The Bank of England state- development of Venisent," as it similar Industrias bas
Viewod against this sales the boom in
eqinties causas orders for the companies and | ment for the week ended Nov. is cello, the firm hopes that announced by a British Hem. In grey goods, print cloth
On the question of : coléota
automobila ame "disquiet" but no, more engineering closed the week 11, reads as follows: chemical, refusery and nuclear It is designed to work non- buyers stretched inquiries into
goods imports,
Georgia's potential, current
were file than a tomportzy rostraining very firm. -
Sterling plants as well as land boating stop on full production for the third and fourth quarters
Dottom millmen expressed production figures
08,197 pas- effect on stock markets.
This has been a dull wook for Nötes in circulation... 2,320.827 and ventilation, units will find hours a day with The minimum of 1960, but a diference
approval at President Elsens appointing: Only
the senger car units were scheduled attention and maintenance, the prices limited actual booking.
Nows
Privato deposita hower'a a tamber of applications.
booming retail oils and they weakened further Publu deposite request that
on reports that Rumia bad offer-
Government pecurlilos. In particular, it may be ap-manufacturers say. The now Heritant buyers contender
Other securitiem plied to scaling off unser machine was trulli to meet the good part of the recent buying
the possibility of establishing a further drop from less welck unbleached goods
and better exports for all exploration rights, and bigger
Beonline .. a small cut furnace work and to mechanical specific requirements of a Bellish splurgo, in
wore the rain. Influênges on similar models was sportlative and out of line
The rioting in the, Paarl aren a protective tax on truporte 03,451, but only ventiating air Iplein-of special customer, but
cofion quote under merlion 22 compared with earlier : works
this past week - Other with the movement of finished
of South Africa depremind·ího together with
„very signideance underground, sa a have been built for
of the Agricultural Adjust. It appeared the bottom how fustic marzenia fra precaution, perakting reald customers in Sweden, India and evoda into consuming channels.
about been reached. -Other-hositant...buyers still...]........ment Acti
excellent company reports of market for gold minds and only eloire of air feed or draugh! | Australia as well as at home
the possibility of
In the comparable week increased buses and buying from Johannesburg pre- Exchange Rates
vented a really shied herbicie in rep Tháo samodule' is made of -weldid | coulet on Lourdes.
Increased suppliós it some mills, Colton yarn spinners reported year asu, 277,894 passenger cars VMDKI. -
thekama market, In otham • Bilalbene was done in "the "foss) With this valve it is unnecessler plate construction of led with big order backings, a brotdaming damnand, with a wore made,
market. this itsedged "All gears "ähd
recovered their mining section the strungthu de sanoficial exchange sato move cowls to close box reétion.
rodening Lanka (following: Extasime are self-lubricii“, decided to break away from few optimistic, DÜRREVOLE LEET- |- Thla v rodent, that now? // ARP viation openings. Their re-bearings
anding the situation as one of fhm | denlern, would – get just ( undar, polsa isat. week with
BELORT=CH(180) || suolumne Dieve bilen," a boom in "jerting notes "Cowy (2110) 2% moval at sea is only required in The machine is operated by the Ave-day work week.
bert persotime yours. Most 899,000 eaty for their misoppie - makiaAJKA, MIXE
E very heavy poo and even if 25 b.p. wisp Hing motor too up operations.
The industrial fabric plcture apparel faltare pressed in home in Novembrow rowding the pedally favoured but the une rubber bauet on the m
f coul IAD RATE The slate with 'TRVATNING"- startar to
blurred Epaed" at "ab. I was
in other quiries for the first quarter of cur miked the lightest in the distal labores after the govern courtinsind strength remifre
JOATS UPL proximately 40 feet per minute. dirućtiga. Brokers reported in next year-UPI.
#lemelency impaired-L.P.6.
CONCESSIONS
in
ກ
of
Tarif Communlandon investigate į to be turned out this past week, sales, record steel production Iran 85 per cent participatin
commodity, SUPE
10,500,410
315.897 $50 200,986,580
49,490.6TH
---UPT