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THE CHINA MAIE, MONDAY, JANUARY 25, 1960.
Weekly survey of American economy
WILL PRESENT BOOM LAST?NGINEERING
Prospects for Eisenhower's
natural rubber good
Kuala Lumpur, Jan, 24.
The long term prospects for ne-
tural rubber
"very
wero termed
good Indood" by Bir
John Hay, "Doyen of the
rubber industry,"
returns to Sir John who Britain next week after visit iny a group of estates in Malaya called the natural rubber ple- ture "a happy: altuation. There is a shortage of natural rubber and an excess of synthetic and The price of natural is keeping synthetic. 1 well above the
conclu-
all points to the clear sion that natural rubber has unique qualities not yet re- placed by synthetic."-UPI.
CITY LIGHTS
Chu
"I took him on to help
with the accounts i
London Express Scrutem
NOTICE
THE HONGKONG &
report starts speculation
A
HONGKONG STOCK
Wall Street
EXCHANGE registers drop
for the week
by.
Our Own Correspondent
Business done at the Hong-
kung Stock Exchange this morn- ng amounted to approximately $1,878,000. Noon quotations and the morning's transactions:
Shares Layers Ballers
1185 1170
New York, Jan. 24. President Eisenhower's economic report this past week started debate whether the present boom in run out its American economy will course before the end of this year or last out the two-year span the INSURANCES President predicted.
back
Personal income
Unde
14
Bales
25 -1170 401170
16 1170
10 120
****
04
Lothbard. NHIPPING jylisclock..
2014
0,00 610 ·1006 @ 6.05 100000$ 3000 or 0.05
DOCKS, ETC.
135 Dock
56 57% Provident 17.30 11
Dock $1
ETC. totel..
400 E 17.40 250 0 17,40 200413%
34% 344
300 6
Ek Land..
4214
43
400 60 42
There Was
good argument five months and almost behind both suppositions, The to the 49 per cent recorded lust
car assembly of spring before the steel strike. Wart two millionth the 1980 model year achieved started. this past week in Detroit and the steel industry said it might wind up January with a 12,000,000-ton
The President's prediction of ingot output. But there
doubt a was serious
of $403 personal income that a record price of the sort billion in 1000 was borne out
for could be maintained for a long by figures
last year! | period
*of time.
to a Personal income soared Steel experts say the length record $380.1 billion last year
In new instalment debt of the current pace depends on
their in- paid back $43 billion to carn how steel users tet
crodiiors. the praise of their answer ventory policies. The
of the repayments to the
question, But most general
inventory whether to continue
went towards dels contracted for earlier. At the end of 1959 buildup after shipment and In-
erot outstanding, Tram ventoriex
balance, consumer come into
$38 be- amounted to well over ran make the differences
Of that, Боле $17 Star Ferry. tween a blg or average third billon,
Yaumati billion was automobile financing. quorfer,
.Consumer instalment
buying C. Light was still being favourably con- sidered one of the most Im- portant
of American aspects economy.
of
Tighter money
500 4 3414
1002
200 42%
0004235 3000+21
3000 (1125 21001525
'and
Humphreys 20.00 Really
NUTUBEK Amal Trust Sungala UTILITIES
41
IK
€20
3.35
5500 64 0,40
3.40
3249
33
1500 3215
2000 67 32.75
1500 32.76
144
137
100 g 130
10.40 10.30
715 18
13410.10
New 22.00
New York, Jan. 24. Stock trading during the past week declined to a three-month low with prices again registering a decline in all mojor départments.
on the
been in interest also declined A decline that had progress since the industrial | American Stock Exchange. average bit a new record 'high .
Money remained tight but On January 5 al 085.47 comed
the Federal Reserva rolained to have run its course by the Wednesday close.
list its discount rate at four per The registered small gales in the cent, possibly awalking end of the Treasury's $11 billion two final sessions of the week.
refunding job scheduled for Trading for the weck next week before a rise, The amounted to 14,210,000 shares.; Bank of England raised its dis- Or daily average of 2,843,018 count rate from four per shares. That was the smallest to five per cent, and one British for a full week since October ( source, såld this was done in 23 when the weekly total was anticipation of a riso at New
So far this York next Thursday. 13,880,808 shares,
totalled sales have year
against 10,920,872 shares, €0,930,710 shares a year ago.
At the close on Wednesday, the industrial, average showed a loss from its 1955 high of 41.78 points or 6 per cent. Rails did much better and performed best of all.
utilities
LACK OF DEMAND
At the close thin past 1000 10 40 the Industrial average stood at 15099
13.50
week
100 1.00 045.85 off 13.83 points from the off rais 7323 v 10,83 | week before;
153.69 GOOT an 18.50 2.35; utilities 86.98 of 9.75 and 1500 1.40
1400 do 243
21.40 2300 24.3)
113 24.10
amount
SCIENCE ANI
New miniature
magnetic tape
flight recorder
THE prototype of a sub-miniature.data.magnetic tape flight recorder is one of the new exhibits at the Physical Society Exhibition opened in London recently.
been has
for use in
developed missiles.
although it will provide avery Comfort and safety
IL primarily amall and channel tape transport mechan- ism for other purposes,
compact multi-
The tape is on époola mounted in a reloadable cassette which mechanical also contains the
take up, supply spool drives and tape tensioning.
that This has the advantage cent
no drive of any sort is required to the cassette and its position is not critical.
the
Indation received a blow as market factor when President released his budget surplus figures, anticipation a
of $4.2 billion which was what he had said previously,
The selling hit the blue chips and the glamour stocks hardest. Losses in the former ranged to $10 a share in Du Pont and in the latter to $11.50 a share in
Motorola,
Business
reeDVETY
is
of new ambulance
A
an
to
NEW Commor three- quarter-ton forward control ambulanco has been designed to give the utmost
and safety comfort patients.
all-steel Incorporating The recorder can be supplied with tape speeds anywhere in
unitary constructed body with the range of 30 inches per
Independent front suspension to second down to 1/10 inch per
zive a soft ride on off-road sur
the second and normally provides faces.
vehicle provides for the recording of eight chan-accommodation for one stretcher case and seats for five sitting nels in line on a single head. The power consumption
cases. Alternatively the laterior approximately five watts and the can be equipped in a variety of
an of the unit with weight
ways to meet individual hospital steel cassotto armoured
requirements, approximately 16 pounds. With
width sliding gloss a solid light alloy cassette, which partition is provided between is strong enough to stand up to the cab and body whilst a rear arduous conditions double-folding step gives effort- the most oven in missiles, the weight is
less access to the interior, For of the order of eleven maximum hygience the body is lined with easy-clean plastic, The floor of the vehicle is cover- ed with top quality linoleum.
privacy To provide complete the side and rear windows pre Atted with darkened Purdah glass.
19
of
The vehicle can by either
continued only news
and several pounds.. highly favourable, Then there was the question
experts were revising upwards ex-
for the
NOISE ANALYSER tighter money. The
2900 or 1850 45 stocles 212.53 of 3.79 their anticplations prime pected increase in the
recovery movement. At the end
• Steel mills surged an ex- Electric .. 24.20 24.30 2000 « 24.10 points.
Another now exhibit is a made of last year they had banking rate and the Federal
machinery naise rate
to preted 12,000,000 ton output for failed discount
of its own rosy predictions for The market fell
a boom rotating January. This
the would be
instrument was were analyser. The materialise los! week but it was
industry's new monthly pro-
2300 2120 weight. There was a minimum through 1980. These being "due" any
to the originally developed to carry out accepted as
Demand revised later to apply of selling. duction record. Last wock,
routine testing of automobile time, This view was based on
Arst half, This past week same steel mills turned out 2,727,000
22.00 equally was incking, Beers YAUMATI FERRY CO., LTD. | the continuing healthy demand
remained Idle and the short tons of ingots at 95.7 per cent
extended their second thoughts gear boxes for noise arising from
gear meshing at the various gear engine. Tighter credit would for loans.
Interest fell off to a new low of the extent of the of capacity, Approximately the
speeds, over a wide range make continued inventory
for Telephone 3914 3274
since Oct. 15, 1937, The short movement, - UPI. tame pace was scheduled
Input shaft speeds. building and on the consumer
the current week. Everybody INDUSTRIALS level, instalment buying-more
Your Cement 2 4914 4235 3500 4214 agrees that more steel is now STORES, ETC. costly and generally slow down
being made than can possibly Dalry
23,30 £3.40 35023 the economie, pace,
be used. The question of in- Eisenhower's prediction of a
22.36 econonuc ventories will deelde how long Watron continued two-year
would
the this puce will be maintained mean Ser-expansion
longest uninterrupted period of
this past weck peacetime prosperity America
2,000,000th the has known for generations. One of its greatest flaws, economists Passenger car of the 1960 model Nanyang
the President's year. Weekly output by all the American car manufacturers found,
TIMETABLE OF FERRY SERVICES FOR CHINESE NEW YEAR PERIOD INSIDE HARBOUR
SERVICES:
The undermentioned vices will be extended up to 3.00 am. on the 26th and 27th January 1960 (1.c. early morning of the 27th and 28th).
Jordan Roud Service Wanchai Service Mongkok Service Shamshuipo Service Western District Service Kowloon City Servico
OUTLYING DISTRICTS
SERVICES:
Cheung Chau Ferry
Service:-
was
Detroit assembled
1100 23.30
1000 23.30
IL CIAW, ... 21 COTTONS Textile
0.20 2.30 2000
1000
9.20 18000
1600
141 14,70
3000
1000
1000
14.50
1000
14.00
Invest... 13.40
10 13.5
200 2000
13.50
assumption that prices will not now runs above the ordinary INVESTMENTS
where
be
only hold but might even reduced
rapid pro ductivity gains warrant it. This, the economists argued, was ex tremely unlikely in view of the 116-day pattern In the record stoel strike last year.
But the high production rate Another condition which the was still outpacing sales. Retail President set for achieving automobile sales in the first two-year
level. Chevrolet alone last HK & FE week claimed output of 60,85€ passenger cars and trucks, the highest output ever claimed by
single brand.
Cheung Chau to Wilmer St. via Aberdeen will be sus-
Rosy forecast pended from 27th to 30th January, both days inclusive. But there wore
The 5.00 pm. ferry from economle facts behind
hower's rosy
recent
to
13.30
NEW YORK COTTON MARKET
London Market
holds its own
in hectic week
London, Jan. 24.
be powered
or a prirol
There is a choice of two fixed Largest mechanical
bandwidths and the tuning of
the analyser is automatically
adjusted to suit the input shaft handling display
Only THE
the
speed. In addition to a note or vibration transducer, the accessories required are series of toothed wheels magnetic pick-up, the
with a
diesel
**nxt *Mechanical Handling Exhibition, to
toothed be held in London from occupy wheels being mounted upon the May 3 to 13 will
over half-a-million aquore The number of teeth on each foot and promises to be the whicel
drive shaft.
various
to is chosen
suit the
the largest and most diversified gear meshes and frequency of the signal derived over hold. from the magnetic pick-up sets As the build-up of this great
the industriol exhibition the tuning frequency ot
· pro- analyser.
gresses, many now names are The pass bond is rectangular appearing on the exhibitor's list, Two major shocks in five days failed to upset the in shape and there is a rejection reflecting the steady growth in basic confidence of investors in Britain's of over 80 decibels of signals all branches of the mechanical the handling industry since the last economy this past
week. Markets had outside the pass band and
analyser will operate over a show in 1958. Enquiries from prospective visitors from all bounced about in the wake of the bank rate very wide frequency range.
The analyser may also be parts of the world indicate that blow and a television scare programme, but
from over B0 countries wave will tour the exhibition during ended up firm with a show of resilience that operated as a conventional wide buyers
range high even dealers on the floor of the stock ex- analyser by feeding in the out- its ten-ttay run.
put from a normal laboratory Some of the larger mechanical change had misjudged.
oscillator Instead of the output handling Installations are, of from the mametle toothed course, too vest to bring into the wheel generator. This equipment exhibition hall, and for this reason, a special symposium of is now in production.
me le being planned. Thuso will be shown in a" 'fúlly- equipped film theatre and wR! of various cover applications typos or equipment in many in- dustries.
New York, Jan. 24. In the end the Financial Times Cotton
atood at 323.3 andto futures
operated index
the surprise of brokers only fr.om
defensive 0
some 10 points down after the position throughout the most heetle week of this year, week, although prices re
Monday's BBC selevision gained ✡
of measure
show called panorama, conduct- stability as the perfoded by Royal Affairs commenta- drew to a close.
Power output
the At Friday's close
Rccuracy
I is still too early to foresee the future pattern of the marke! after the week's shaking, but brokers predict moru some selective and cautious buying with purely speculative money Discovery that not likely to be so abundant.
Ga balance dollar stocks had makes deserts green
and
they
DISCOVERY by 2
·chomist · may
British
The exhibition Is being organised logi .tho Journal Mechanical Handling.
span of economic third of January climbed to advance was thus--surplus to 118,300 carsa dolly Average
budget of keep his proposed
of almost 17,000 for the seven of selling days of the period. This $79.8 billion and a surplus
Budgetary $1.2 billion.
ahead su rule was nine per cent pluses in recent Unified Stales of a year ago but trade sources The 4.00 a.m. ferry from administrations have
been said it was not enough
warrant the 7,000,000 car. year almost unknown.
forecast by some leading executives. However, January is considered a relatively slow sound month. In addition, inventory Eisen- shortages of General Motors the hit by forecasts the dealers-hardest Wilmer St. to Cheung Chau qualification, of course,
have being steel strike-may
held via Aberdeen will be
Bus that normal labour conditions back deliveries, pended from 28th to 20th exist to maintain the pace:
lor Richard Dimbleby had poor weck. Wall Street helped warned small investors they them at the end but over the January, both days inclusive.
Industrial production.
list might burn their angers. What five dealing days US. Sicei had measured by the Federal
later called Electrle power output for the showed a net decline of 6 to 25 elly men
"the lost 2 points, Bethlehem Steel Tai O Ferry Servico:--
System's revised and week ended January 16 dropped points, or 30 cents to $1.25 a bale Dimbleby Dip" and "Panorama points, General Motors Reserve
make sandy srld areas Into New Methods Speed The 4.00 am. forry from expanded index, rebounded to from the all-time high set in lower than the preceding week. Panle" drove prices down in the Chrysler both down 3% points Tai O to Wilmer St. vin near-record levels in December,
the previous week but ettli Increase splurge of selling by worst slide since the crisis bank and International Nickels dipped fertile land. This forecast is spurled
rate leap to seven per cent in 5 point.
made in the international Building: Cut Costs Aberdeen will be suspended The production index
in building from 27th to 30th January, to 165 per cent of the 1947-46. nined 0.8 per cent above a chart readers in the July con
EXPECTED com-the period were posted,
Gledged had been under the agricultural journal "World
·000,000 kilowatt hours, average, a nine-point gain over ago. Output totalles 14,236,-fract, where the widest losses of 1957, both days inclusive.
weather but steadied up after Crops" published in Lan-mathods which speed November and one of the largest pared with 14,300,000,000 kwh Selling in July was credited
readers and Avas Markets had got on their the long-awaited bank rate don.
up operations and reduce week earlier and 13,324,000,000 to chart The 4.00 p.m. ferry from for a single month
years. This still did not equal in the same week last year,
presumed, by some technicians, feet again when Thursday's one change. Over the week
without By chance an English chemist costs
Towering rato ko hit, showed fractional losses. to represent liquidation of old per cont bank Imer St. to Tat O via the 100 per cent recorded on
applied vermiculite to barg wake or quality aro „do- Abardeon will be suspended the old index barometer for
There had been some expocta- In foreign trade, too, there eccounts.
Golds wore ballered because candy area of heathland and scribed in Selling in March, and trans-
the booklet tion of this rise, but when the from 28th to 20th January, June last year. Exact compari- was some support for President forting between that delivery blow Tell its timing was a sur- of fears of the South African within a few months found he "Bettor Mothards Sin
had established a firm growth of the Eisenhower's general economic both days inclusive.
con was difficult because
price. Falls spread right across political outlook after the an
Building Trados” spublished two Indices were different but forecast, the National Foreignd the May-July co-teatured
the board, but dealers who im-nouncement of a plebiscite this grass.
Vermiculite is à mica-itke by the British Productivity The Excursion Ferry to the new reading was very near Trade Couneli came up with generally quiet trøfle.
Industrial
mediately slashed prices to pro-year, to decide whether NEW CROP figures outlining a 12 per cont
The book giros mineral used by many gardeners Couricll. vent rush seiling, found buyers country becomes a republic in- Tai O will be oparated on the June level and
was rise in U.5, merchandise exports
side or outalde the Comamori- for÷forming rools and to hold dotálls 'df · case studies of coming back in. Wednesday, the 27th Janu-productivity this month
and a four per cent increase 'la Now crop deliveries werd sure to top that old mark
wealth.
| moisture and air.
ton 'firms in various Mac«. Private home starts
In Imports. Thila would mean a relatively neglected most of the On Friday the Index Inched
NERVOUSNESS
First water would have to be tons of the building Indus up to an pickup in exports from • $10.1 ↑ time. Traders in that section of up again with some of the big-
introduced into the desert area. Leaving Honglong at 8.00pDecember pleked
from billion last year to $18.1 billion the Ust were marking time opger buyers seeking out bargains Such a move has long been ex-
Reporting en, one firm It a.m. for Tai O calling en annual rate of 1,310.000
the level of 1,210,000 in Novem- the year, and an increase inparently awaiting:
billion to Congressional · developments and in the business for-invest" | pected but the sċliers "came out, chance of winning back this states that eulput a man hour route at Tung Chung.
was the imports from $15.3
ment and not speculation. ber. The 1959 Azuro
Jotunesburg buying thared the water once vermiculite had been Returning from Tai O at highest in nine years.
$15.9 billion.
on farm legislation;
The early week falls squeezed nervousness in London. At the absorbed into the fissures of gone
fold and that a turnover of Possibilities for a modifico- 5.00 p.m. calling en route Employment Ogures for
|-£250,000 with. 1950 men bou This development, it is tion on the government's cotton out the weak spots. With this end of the work selective buying each granule
froth blown off, the market was improved St Holenu and
·December·ran counter to trends ut Tung Chung.
Coarse grass, such as grows on Increased 40 1,200,000 with the programma which would allow in good shape to face the bank Loraine and American buying sandy dunce, would have to be 300 men. raino unemployment dropped realised,
The report-records trade more cotton to dow through rate rise. The economy is very was enld to te behind the established as a stunty growth that the Inbour balance of
turnover (hap 103,000 and the total of employed favourable
sound and brokers discovered steadier look in Free State and as it dies rudimentary soll dropped spectacularly and that climbed to a December record from $100 million last year tectumusorcial charmals;
there was still -weight of Geduld. „Anglo-American, Cor- containing humus would be earnings of operatives are well 68,600,000, Unemployment usual. $2.2 billion this year. Overaly, The government'e announce-
payments at on the 1000 support level money looking for investment poration dropped de dd over formed and in time green cover above the national average. December and the total of thom deficit was put by the Council which must be announced prior | Some excellent company' results Line week tai, ezil(2165:3d. Con- would bo established. ly increases by 100,000 or so in the US balance of
In the second half of 1990 with higher dividends in inchis-solidated -Goldfield ended up The fonitral suggests that unskilled men earned £13 to trials indicated that low yields as did lower at 936 9d............ Badual reclamation of the £10 a week and skilled mon The morning ferry will Holding jobs, falls off by about at an experied $4.9 billon this 10 January 31,UPI.
one of the best growth
ates £10 to £21. Yet unit costs leave Talpo Kau at 746 700,000 due to cullace in out year, down from the $3.7. spent.
a productive door .work Last marth in 1959.
stocks should be..charging for Pinlizuma improved with Schara as x.m, dnstead of 0.80 am marked the net December. The group reported that the
Exchange rates
the better over the year." newa. of the higher price. In might be achieved. I point out love fallen by: 20 per cent in problem of provid-four yests. Bricklayers Aro and will leave Tap Mun since World War 11 wahout a UB. spent $28.2 billion rich
The fact of a healthy balarice, anions De Beers went down that tito. received $23.8 billion in inter- at 0.80 m. Instead of drop in employment.
Huskies wad done in the local of payments and that official de 100 on this week.10.160sing fresh water from brackish laying 1,000-bricks a day.
water is being overcome di zuch | The report states that almost The total of unemployed was national transactions both
sthetise juwelalaikiai atlaternents went out of "their" | 1,360,
A places, ang Tobruk," "where" an without exception employeus 8.00 .
3,077,000, compared with trade wat uincial-last year
was way to stress the bank rate risolla experienced an erratic electro dialysis is ofrecidy pro-aro in "The companyča) non- November, The | In '1900, Tho group expected urtog notes (persia
1527 was to darup down, first ɛndamata, Hongkong, 20th January, 2,070,000 in
December*figuro represented receipts on $200 billion and. Au feline Reverse son of inflation at house, radler than weele and most, ended up with duck 65 tone, or 12,000 gallons contributory pewon fundetta 46, from Jételking' demonstration by the 1000.
0.2 per cent of the US expenditures of $20 bilioniddellik va per 100, **
STONE ALSrting, helped buying on depoltak tittar term of fresh water a
dancy on
brackish well).
company of Peddadasise,"liÍTS. Labour fotos, the lowest levél în | UPI.
Dry:-
Talo Harbour Ferry
Servico-
On the 28th, 20th and 30th January, 1960:-
47
·
would
home
the
|
A hot gun would have little
.*
up 'more than four-