Page
Page Z
THE CHINA MAIL. MONDAY, MAY 1080.
Weekly survey of American economy
SCIENCE
EARNINGS SHOW GAINS INGINERING
Lull in cotton goods buying
New York, May 8.
The buying movement in cotton grey goods, initiated right after Easter, lost most of its forward momentum this week.
Purolaps of an estimated ; ministration to substitute cotton
for 89,900,000 to 100,000.000 yards bus
other fabrics in of goods-mostly print cloth handling the 17,000,000 tons of yarn fabrics during the buying surplus wheat to be shipped to splurge evidently notised both India. buyer and seller for the time being.
Mill executives described the Lituation now as a "standulf," Producers have very little rear- by goods to sell. Conversely, consumers have enough goods on hand now and will live off Inventories for the present.
TEMPORARY
Boy: weavers claimed a pre- ference for cotton would involve 305,000,000 yards of mind enton goods.
BURLAP UP Burlap prices skyrocketed to a new live-year higa on heavy- weight constructions, reaching 12 conto a yard for spot goods here for the first time since curly April 1955, Strength re- reflected the Calcutta rise, which Looking ahead, weavers garded the hull as tempority. in form is responsible to the They expected consumers to be back for more goods as soon as the Aprit purchases have
been digested
steep climb in raw jute prices as lack of rain, and delayed plannings, intensified doubts over the new crop picture.
Boom in car sales and trade continues
New York, May 8.
Car sales, imports and exports, bank choque transactions and some cor- poration carnings showed gains this week as the spring upturn in United States economy continued.
and
L week's auto production was well below this average al stane la mere 135,111 passenger
trucks-seven and 25,008
Only steel still cousted along! at a slow pace as a result of dis orders appointing company earnings showed thin marking in comparison with year ago as rising costs mude even higher sales volume profis
tenuou
ย
reliminary figures for April showed that the pace of new car sales which started in the recond half of March was main- tained throughout ApH- around 500,000 units for the inantly and about 12 per cent ahead of last year,
Changeover Although new car inventories Opinion consensus indicated Hemp prices continued 10 continued to hold high-they retail stores across the country soften in the face of a slacken- | were just over one million unas generally are in a good upon la ing consumer demand Orders on April 1 and probably not buy position for autumn. Quiet continued to be limited in Wool much Irgs at the beginning of ness in the apparel sector was goods although prices held May because they were being matched in the industrial | steady with Austrolle reporting constantly replenished by com- claires Held.
stability for the quality wools | mratively high new prodvetlon when the auctions were expert opinion was that dealers Weavers of cotton but samed
week after the will have little trouble getting sheetings are pressing the ad- Easter recess.--UPI.
months when production will die to it trickie for new changeover.
re-
rid of them during the summer
model
Car's
per
rent below the previous week- but this was not because of any lack of demand. The cause was a series of strikes
ut
puls
Suppliers plants. At least one
an-
manufacturer Bulck noned plops in neceierute pro- duction Schedules immediately to meet-increased sules demand. Whether this would become a trend and tift the steel industry from its current doldrums was Loo early to say.
Wall Street
NEW A-POWER
rallies after STATION TAKES weak opening PRECAUTIONS
New York, May 8.
Stocks rallied during the past week after the
averages missed by a whisker in setting new DETAILS of the precautions being taken to lows for the year on Monday.
HONGKONG STOCK EXCHANGE
by
Our Own Correspondent.
Business
The Monday decline was the seventh in a row for industrial and the sixth for rails. The recovery reflected ability of the market to hold abave the 1900 lows, a better market for cars, and an Improvement in the US. foreign trade position.
avoid radioactive contamination within the twin piles of the new Berkeley Nuclear Power Station were given to correspondents recently when they visited the site on the banks of the Severn.
The station which will have a net electrical output of 275
Also the market was helped megawatts will come into opera-Mass spectrometer
to rome extent by dleations of easier money such as a re- duction in the return on stovern- ment notes, dip bankers' acceptances and # ent 411 brokers long by Tracing New York banks.
found
up
8.12
tion early In 1081.
Through the graphite core there are 3.275 channels which will contain 250 tons I natural uranium in the form of rods, There will be 13 rods to each chanari. To keep radio-active fission products contained, each rod is emned in a helical finned magnesium alloy container and
the complete assembly is called
produced ASSOCIATED
Electrical (Manches- ter Ltd., England, have recently completed the first production of the MS 7
fuck' 'cartridge." However, mass spectrometor, which if the can suffers a minute panc (has been designed specifical- ture, contamination of the gas ly for the
of purpose elroull would result Any con- tominution of this defect would measuring minute impurities in solid substances by means of the spark lonita-
LIST THIN The Tuesday niarket the list just as thin on the up- side as it was on the previous decline, It took only moderate demand to send stocks
rose sharply. Industrials points in the Dyw-Jones aver- age on Tuesday and rails 1,25 points.
Industrials 1285 3.26 polots
slipped 2.67 points on Thursday, and lost another 6.70 point on Friday. However, the Industrial | SAMPLED average, closing at 007.82,
done at the Hong- Steel continued to complain of kong Stock Exchange this morn- "disappointing" now ordersing amounted to approximately Scattered pickups in new orders $3,009,000. Noun quotations and and new buying by automakers
the morning's transactions: injected soine regional optimism but overall the rate of new
Shares Buyers Sellers Hales business was s311 well below current shipments. This means that steel operations in the second quarter will average, at best, 75 per cent of capacity and a rate of 70 per cent was likely in the third quarter.
The Hongkong & Yaumati Ferry Co. Ltd. the high pace of sales in April duction was placed with Mil-
TIMETABLES FOR OUTLYING DISTRICTS FERRY
SERVICES
In force on and aftor 9th May, 1960
CHEUNG CHAU FERRY SERVICE
Leaving tⱭNGKONG for
CHEUNG CHAU
6.10 ..Direct)
4.45 -Via Peng Chau
JM.B.)
**
12.00 naon (Direct)
13.30 p.m.-(Via Peug Chru
(Via Peng Chau Be
Leaving CHEUNG CHAU for HONGKONG
4:00 am,- (Via
:
Wilmer SU
على
to
Aberdeen
0.40
FA
-(Vio 9.1.
Peng
0.45
-- (Direct)
Chau)
0.00
- Vla
Peng
Свои
B
7.30
-(Direct)
S.M.D.)
$,00
10.00
- (Direct)
Chby)
-- (VIB SMB.
* Febg
11.00
- (VIO
Peng Chau &&
10.10
-(Direct)
8.M.B.)
11.00
Via S.M.D.
&
Proz
11.30
H
Direct from
Wilmer
Chau)
Bt.)
11.20
(Direct!
1,30
恳
1.63
(Via S.M.E.
A
Peng
3.M.B.)
Chau)
1.30
-(Direct)
• 2.30
-(Via SM.J.
&
Peng
1.40
H
Via Peng Chau
&
Chau)
3.M.D.)
9.15
(Direct to Wibner St.)
330
(Direct
4.005
(Via S.M.D. & Peng Chau
3.M.B.)
4.00
(Direct)
0.00
4
-- (Via Aberdeen from
5.15
-(Via SMB. c
Wilmer SL.}
camul
645
(Via Fang Chau &
0.00
(Direct)
SMD
7,00
(Direct)
0.00
-- (Direct)
-¿VE MB, & Peng
7.20
-(Via Peng
Chau &
Chau)
8MB)
8.00
(Direct)
6.20
H
- (Direct)
1.40
(Direct)
Leaving BILVERMINE BAY for HONGKONG
8.45 ■.m. -- (Via Peng Chau)"
1.20 .m.-(Via Peng Chau)
• 8.30
- (Direct)
9.30
0.00
-(Via Pong Chau)
- (Direet)
"
(Direct)
10.40
(Direct)
1130
• 10.14
แ
- (Direct)
51.40
11.00
"
SILVERMINE BAY FERKY SERVICE
Leaving HONGKONG for
BILVEŘMINË DAY
H
(Via Pong Chau)
*12.30 p.m. —¿Via Peng Chau)
2.15 p.m.
a1Vga Pin Chaua
--(Directi
(Via Peng Chau)
-- ¡va Pong Chauj
(Direct)
mill Ping Chau)
- (Direct)
Car maisors revealed that only
prevented them from reducing to some 120,000 units output weekly from the actual average of 140,000 or more during that month.
London
market
weak
Curiously enough on
LD- disclosed substantial" order, for wide sheets for automoblie pro-
West steel mills recently for export via, the St Lawrence Sca- way to Britain. ***
GOVT. LOANS 31⁄4 (146)
BANKS
HK Bank Eset A
14
1295
1230
177
INSURANCES
Union, XD
9124
#3!%
0212
SHIPPING
Wheelock
7.35
1,40
7.40
DOCKS, ETC Dock
121
122
110
120
Last week's scheduled rate of Provident sleel output was at 794 per cent Talkoo Dock.. uf capacity. The actual figure was probably smaller and this week's output slik less.
21.40
21.60
21
04
€341⁄2
LAND, ETC.
FK Hotel
HK L
3622
0239
3016
Trade gains
Bolh
and imports
exparts scored gains over last year dur- ing March and it was clear that The trend would be maintained. In that month, the last for which statistics are available, imports ellabed Ave per
cent over February and tive per cent over March 1050, They Lutalled $1,300 million. Exports rose to $1,000 million, an increase of $137 million over February and of $260 million over March 1959
a full 19 per cent.
HULBER
Amalg Trust
rosc
result in progressive contamina- tion which would laterfere will goined Another
the efficiency of the Reactor. It tion technique. Wednesday,
is therefore essential to delect and remove the faulty element.
on
was
4 up 5.92 points on the week. On it closed at 599.01 Monday against the 1958 low of 509.10.
closed The railroad average the week at 140.85 up 1.02 points. On Monday it had closed 21.45 et 138.46.
Its main use will be in Indus- ties which need materials of the highest or ty, such as nudicar semiconductor engineering,
development
materials and the of alloys. panicularly of non- ferrous metals.
Some 3,275 stainless steel tubes are therefore passed Into the pressure vessel and the end of cach tube is located adjacent to the outlet of a fuel channel in
Some of the materials which the graphite. Once every 30
have been unalysed to 0.01 parts minules the carbon dioxide gas
for 1,000,000 Include uranium, passing through a group of four channels is "sniffed" er sampled Sermanium, silicon. magnesium, copper, alumi- by the respective tubes and this titanium, iron, "gniff" passed through a burst nium, tin and nickel-chromium slug detector valve. This valve alloys. 02 1050.
can istole a particular channel ANALYSED The composite average of the from a group of four should a 85 stocks in the three Dow-high contamination lovel be Jones groups finished the week
Uilles finished the week ut 88.98 up 0.27. That average has held above the others consistent- 38%ly and it is the only one which 3 shows a gain over the close of
BRA
021
at 201.92 up 1.50 points.
*FALL OFF
detected.
of
musa 23 u
The Instrument makes use of the positive lons set free when From the burst slug detector a high voltage sparkly passed the electrodes valve the CO2 "i" is led to between Recently declining markets a precipitator which is, basically, material to be analysed. The through a magnetle 200 reflected a falling off in profit o taut rotating wire at a high lung pass
margins. The recovery from the voltage of electricity. and the nalyser and come to a focus
to the three
to their "snit" or lows in addition
as sample, passes according items mentioned above WIN over the wire. The effect of the series of lines on a photographic. helped by technical factors electric current is to cause enn-plate. For the analysis of im- tamination products in the gas purities the plate is used as on namely, an oversold condition.
Volume was small on declines to be deposited upon the wire. integrating device and the Inten- and on recoveries, reflecting EL As the wire travels forward any sily of the lines is calculated. lock of liquidating pressure and contamination is picked by a By this technique concentra-
the of Interest In
general radiation detector, and thisons down to 0.01 p.pm, con market.
Information is sent to a central be estimated. The method is Steel companies made optimis- computer system which will particularly useful ter giving a
HK Land Into) Humphreys
W
2.3 21
23.30
1940
Healty
197
1.812
1.93
1.575
714
A Du
↑
0.09
5. Kelantan
3%
Java-Lunol.
07c
Sungla
5.40
5.00
UTILITIES Tram
Star Ferry... Yaumati
33%
3314
331
10t
104
103
184
C. Ligi XD
23.30
22.40
23.30
23,40
Electric
2211 29.10
28.1
ΟΙ
2
000
Telephone
HK GO..... INDUSTRIALS Cement .....
3014
4035
STORES. STC.
20.00
20
23
28.70
Watson
28 00
Lone, Crew...
COTTONS Textiles
40 30
11.20
11,20
11.40 shares turnover on Friday
XD
15.90
10.10
MISCELLANEOUS
Gilman
2.305
2.425
INVESTMENTS
InL
0
3.10
Allied XD
averaged 9.03 trading
BK & FE
0,10
Invest
15.40
London, May 8. Gold ore flow from ปาง Pear Sharp declines in indus-United States in April, on the Trials marked 22 de other hand, totalled $48 mil- pressing week for stuck on or the same amount lost
in the entire first quarter Government-in markets.
This reduced U.S. this year. imposed credit curbs, with
stocks to $19,480,000,000. Gold the threat of more to However, the $86 million worth
provoked small come,
of gold lost to the U.S. In the selling despite a steadier first four months of this year look by Friday. The was considerably less than the Financial Times index outflow in the first four months fell 13.6 points to 297 year ago or in 1958.
Some of the April statistics after setting the year's failed to keep pace with low Thursday at 296.8. the spring upturn ond expert Song of the Improvement] business opinion was that heavy near the close was due to end-now and floods were not all seenunt bear covering but that was wrong the economy. dealers reported a trickle of in- Same authoritative sources went vestment buying at bargain as far as to term the pre-spring prices. To the tain, however,; period
recession" "quasi (big buying has dried up.
caused by the fact that cautious Clib-edged made a brighter businessmen slowed down market and won fresh popu- adding to their inventories, The larity
their good yields signal to go ahead again was They gained across the week, only given by the some ending 15/16 sterling who started to buy with vigour.
• 3.00
1.45
• 3.10
{Via Teak Chal} -(Direct)
• 4.00
4.15
• 5.00
4,00
(via Phu Chau)
P
5.45
(Via Pong Chau).
1
4.30
-(Direct)
• 6.00
"
-(Direct)
0.13
-Via Pong Chau)
Direct
+
1.20
-{Vla Fear Chou)
iVl Feed Chunu)
PENG CHAU FERRY SERVICE
PNG GIÀU
Leaving HONGKONG for
6.45 km.
9,00
2
11.00
1
•12.30 p..
·1.45
9.00
H
$.45
མ་
7.20
Leaving PENG CHAU ZOT HONGKONG
9.50
11.55
4.40
•
• SUNDAYS AND PUBLIC HOLIDAYS ONLY.
TAI O CASTLE PEAK FERRY SERVICE
Leaving HONGKONG
Hongkong
Kap Sui Mun
Castle Peak
Tung Chung
Arriving Tal O
TAI O
Leaving TAI O
2.00 pm Tal
Tung Chung
3.00
Cartin Peak
Kap But Mun
Amiving Hongkong
SPECIAL FERRY (VĨA ABERDEEN)
(From Wilmer St. Ferry Pler)
Leaving HONGKONG for
TAI O
On
better under the stimulus of de- nand. Foreign buyers were said
al one
a
customers
Indications
to be In the market
Two key economie ́indientors stuge. The baliof that the the value of new construc- bunks will not be heavy sellersten in Apell and manufacturers' to meet their special deposit chipments and commitments helped the
vance.
RECOVERY
ad-
Gold mining shares staged u
new orcier's in March - fulled as yet to show Lurnal springtim improve- nicht The value of new con- slauction completed in April in-
2.00 a brief recovery in mid-week but creased less than seasonally to
HAN
W
9.30
H
10.30
Leaving TAI O LOT 40 pm. HONGKONG
EXCURSION FERRY. TO TAI O Leaving daily except Mondays, Wednesdays and Fridays. The excursion ferry will also call on Public Holidays. Leaving HONGKONG.... 8.00 am. Leaving TAI 0 --
0.00 Dail (Calling at Tung Chung)
(Calling at Tung Chun)
TOLO HABDOUR FERRY SERVICE
the development lost impetus $4,600 million, an eight per cent
afler fresh
Minister
Africa's
statements from a
The one
on the
Dairy
Nanyang
****
14.30
19 4724
the
29.10 tic statements despite the fact 38! 2014
that steel operations dipped to 3512 below 75 per cent of capacity. 14.30 14.20
Car production rose on week, April autornubile soles showed good gains which helped 48 the market generally. The de- eine which ended on Monday left 2012 the industrial
down average nearly 70 points or 13 per cent from the 1050 close.
Big army contract
for Fords
Trading on Monday amount ed to 2,930,000 shares. It
fell
was
an audible cause sound If the contamination level is too high.
of impuritics. warning to general picture
The whole mass range from 7 to 140 can be recorded on a single plate, and compared with emis- sion spectroscopy the spectra are simpler and the clements easier to identify.
The sequence of events, there- fore, is that the audible warning will sound, the computer, on de- tection, wil Five complets record of the faulty channels, and will indicate in which group of
four channels the fault lies. The New temperature
detector valve will then indicate which one of the four channels
11m each day and Die 2,560,00 is affected, and this information control units
10 the smallest since April 12.
Sales for the week totalled smallest since the 2.40 13,055,505,
Dally week ending April 1.
2,701,118
con-
姐
shares. In the previous week.
will be passed to the charge face and the cartridges in the faulty channel will be -removed and replaced by fresh wrtridķės,
sales totalled 14,072,500 shares, General purpose
daily average of 2,804,502 shares.--UPI.
SINGAPORE
RUBBER MARKET
computers
A
A
FIRM
has
which specialised in tempora- Furo controls abovo 200 do- groes Contigrade has re- contly entered the field of low temperature control with a
resistance thermometer capable of ac- curate results avon below minus 100° C.
now
NEW range of general purpose computers
It is remarkably compact and now being developed by Short Brothers and Harlands coupled direct to the maina..
any need for manual Ltd., at Castlereagh, Belfast, without
adjustment for varying voltages. Northern Ireland, under the This is accomplished by means trado mark "Simlac."
to built-in rectitying and giving a com- Singapore. May 8.
stabilising unit, Rubber prices in Singapore this
which, in the They Incorporate many auto-pact instrument past week climbed
resistance to their male aids to ease the handling case of the
on/off highest of the year and con- of problems encountered in controller, has a front of seven ditions were generally active. nuclear kinetles and provide in and a half by six and a quarles The price ranged from a high greater reliability and accuracy inches. Thursday of Strāŝts dollar 1.27%
of
M207
There
Dearborn, May 8. rlso over March but olx per Ford Motor Co. announced a championing South cent below April 1959, Total $2.3 million Government home policy. Better spending on new construction tract for we than 1,800 Ford profit #gures were behind the last month pushed down the sedans. rash of risus
About 1,300 of these and the market estimater anmi rate to $52,400 are for the Army, Ford said. responded to repla recovery milion, a decline of two per cent 4.00 .. from carller setbacks.
Novel than hitherto possible. Business over the month.
The order, Ford's fifth multi- por pound of ribbed sheola
The current flowing through WOR never heavy.
to wiring techniques and a revolu- Coppers Deliveries of manufacturing million dollar contract this year, a low of $1.22% on Monday.
Quite sub- favoured the downtrack but the
tionary patching system cut out the meler changes companies in March fell two
was issued by the tins made good headway on the
Detroit Lewis and Peat, rubber and the cord chutter which was a stantially with small changes in Ordnance Turk cent from the February strength of the metal in world per
Automotive produce brokers here,
Atemperature, and this com-feature of carlier models. markets.
rule. The sales totaled $32,500 Command. It brings the Ford mented in its weekly report that flexible push-button selector that a robust over movement Foreign bonds made a mixed minion, a six per cent vain
Division's total military vehlele Chine won only in the market system and an associated problem can be used without grlfleing showing in world markets, with over a year ago. Incoming new orders this year to about $10 one day this past week for a check also provide an appreci-sensitivity and accuracy.
moderate quanlity and Russia able Improvement.
is no need for the senle to start Japanese non-assented winning business (now orders) dropped million.
at a true zero; a point le sult the back some of their last wock's 1.5 per cent from February.
I was apparently not buying be- The Acronutronic Division of cause "maybe the price 13 too good sign
required call heavy losses,
The setting-up facilities are particular range Five percents of horizon were current plans by Ford Mox Co. received Leaving TAIPO KAU ter TAP MUN, LASving TAP MUN for TAIPO KAU
high to tempt them."-UPI. practically fool-proof and the be used for the scale zero. This 1024 gained £14 over the week businessmen to increase their $2,676,000 U.S. Ahr Force co- 6.30. (Direct)
component has an absolute de la particularly suitable when the Kau Lau Wan, to end at £190 and
Tat Tan. che Chon shem per cents of 1890 improved ning 1980. Last autumn an auther and payload and test contractor the four capital Investment farget for tract to act as system enginter
curacy better than D.10 per cent. extremes of the rangė are being polats.
Greeks see-sawed and fative survey showed plans to on
Standard models have a 112- used, and setting is thus fael- Mitude high
rocks.
amplifier Unéar coinputer, but litated. ended broadly unchanged. morense 1980 investment Dollar stocks attracted little 2959 by ten per cent. In March Service.
over space programme.-China Mali
the baste deshjen can enɛlly be
For use in corrosive business,
modified to meet parilvuker up. movements mainly the government sald the invest- being due to mark-ups in ne ment target would be 14 per vent
plications by plukalni spreisted pheres the instrument la enclosed Qupponents to wird by in an air-purged glass-fronted with Wall Streal's trends.
ahead of last year. Last week
fuck, and special non-Uner cabinet. It Is not senaliive to Olts shared the malaise
another survey, McCraw
The Bank of England alato- 1 function units can be rigor changes in the temperature of he Industrials and most leaders Publishers, showed the planned:
will works ment for the week ended May 4 period of required. ended lower by shillings after towi now is almost $38,000 mil+
Business was due in the local fondo as follows:
salefactorily at 130 degrees norrow movements across thelon or 10 per cent ahead of morning at the following raten:
unofficial exchange market thu
controller is The week.
market 1839. world
U.S. dollars (per $13
0.74 position of rubber helped
course, represents Bierllog notes (per £1) Plantation shares en die upside plans and plans can change, but Indonesian rupiah per 100) Australian notes iper 21) but teas attracted Jitle interest. it. is a measure of confidence an icals (per 100)
| Bingapore (@liate)
(On Sundays only this tarry williamve at 1,45 mm.}
160 Via Shap 82 fisung.
1.001, (Vik
Ahan chúng, Lời Chủ Chong, Tai Ten, Chik
and
Chung and sing BM Heung!.
(On Sundays only this terry
will save at 6.50 pan.)
WID).
Kau Lau
(LOBIET) **** *Ura eco
TBUEN WAN --- TSING YI FERRY SERVICE
Leaving HONGKONG. for
TSUEN WAN YIB TEING XI
8.50 120, 11,09 alin.
LEGO NOGA -- 340 pum.
7.00
2.00 1.1. -
2.99 p.m.- 10.00
Service
Xvery hour Every hour Every is nour
Every hour
An petra ferry w!!! ¡00= Tsing Yi for Teszyn Wats 161 430 8.m. daily,
Leaving TSUEN WAN for HONGKONG VIE, TRING Y
0.30.1, 11.00 m.NL
1890 poun - 200 pan.
400 tim. -- 22300
0.00 pm. — 19,00
+
An extra farby will lanYO Twuen Wan for Tsing Yi at. 19.00 pân, daily.
-UFI
in
This, of
UPL
ง
Exchange rates
Bank of England
statement
London, May R
12.01
138
Notes In zirculation Pubile depGNETI Private deporte 10.58 | Cavernnent, securities Other escurities
Receipts
25.90 | Rasiv
surroundings
and
atmoy-
2
reriolutice.
three or bulb,
The firm has been tightly Fahrenholt. The 10.230,381 300 330700 Buccesful with its smalier com- ntted with either 20441.000 puter, and sales now exceed 00, four-lead
$320,744 higher total, they claim, thon enabling it to be used at a con- has souble distance from the point MILY other manufacturer UPI. received.
07.710,209
of triquetrement.