Pagè
THE CHINA MAIL, WEDNESDAY, MAY 11, 1960.
THE TRADEWAY TO EUROPE
London HONGKONG British firms Profit-taking
closes quiet
London, May 10.
STOCK EXCHANGE
by
Our Own Correspondent
Business done at the Hong-
kong Stock Exchange this morn- ing amounted to approximately
the morning's transactions:
Sheree ZANKS
Industrial shares inched off the bottom today while business stayed lethargic aside from a trickle of ik Bak cheap buying. Prices were generally small.
set up shop in Belgium
From ALEXANDER THOMSON
$6,577,000. Noon quotations and The bankers', electronic eye saw me coming. Plate glass doors of their palatial H.Q. swung open invitingly as approached. This, I thought, is surely a symbol of the welcome they will give British businessmen visiting here with the idea of setting up in Belgium.
East Asia INSURANCES
Union XD.
Buyers Sellers
Sales
1280
1245
11295 150 1290 5101205 1283
200 M 206
69
200
100
110
Waterbest 25.30 DOCKS, ETC.
120 Derk
}
4315
1.30 7.40 200 7,40 6000 7.35 2000 740 800073
300 25.00
20046
200 @ 120,
Riots in Rhodesia hit copper shares and chopped shillings from the leaders. Cape prices
ent golds down but the move- Lombard
SHIPPING ment ran into resistance near weclock the bell. Tins reversed their re- favoured the cent trend and downside.
Git-edged securities closed fractions better. Japanese non- assented bonds featured in the foreign section with Tokyo 5) per cent £17 up at 192. Greck President. 22.40 221
issues turned easier.
...
Small falls were sprinkled Talkoo Dock
through dollar stocks.
a
Sew
sets in on Wall Street
New York, May 10.
Stocks were mostly lower in moderate trading today with some of the recent favourites suffering the biggest losses.
Trading picked up slightly on Cana. Brewers the decline but not enough to Campbell Soup Co.
any heavy
selling Canadian Pacific R. indicate pressure. Most of the big in Case (J. 1.) Co.
of Celanese Corp vestors held to the sidelines Cat Tractor
CIT. Financial Corp. pending further clarification
Chase Manhat. Bank the foreign situation.
Profit-taking hit the recent Chrysler Motors
Colgate-Paumolive Co. favourites, particularly Polaroid Cluets Peabody which felt more than seven und Colombian Carbon, Co.
around | Commercial Credit Universal Watch down
Consolidated Edison the Consolidated Paper
six.
Continental Can
In some ways this old city | Nephew, in pharmaceuticals, are cobblestones and Jace is the others that are anticipating the Соллизу 10
common new trade line-up'in Europe. market in Europe.
Bowater, the paper glant, has Steels were casier with Fifty-five minutes by air fron
in exception of a rise of more than Consumers Gas 100130 London and another 15 minutsalceady secured a foothold
Now it is actively two In Lukens, Motors slipped Continental Oil of Del. Belgium. 300 123 by rail-car and you are risacding to it by all accounts.
under the leadership of Chrysler Crane Co...
Crown Zellerbach -390 or 21.90, in the centre of Brussels.
A new threat is that six com- which lost about two. 1000 22.10
Eléctronica also came under Cuban Amer. Sugar
Delaware & Hudson Co. mon marker countries aro ex-
losing Diamond Alkali preted to start raising their pressure with Beckman tariffs against outsiders after the more than two, and Motorola Diamond Gard end of this year.
down around 14. Vicks jump-Disullers-Seagrams A 1,000 mile network of
On the present form this will ed more than three while Carter Dominion Stores
Dow Chemical rivers and navigable
canals make life a lot more diffletilt for products fell more than two in Douglas Aircraft
electrical, engineer- the drugs. provides cheap transport by motorrar,
Good earnings reports for bulky goods wo
Britain's reply is to form lift Minnesota Mining another trading group of seven three and Naß about one. Germany and Switzerlandı. Holland, Luxembourg, France amical and woollen firms.
Sweden, former also was helped countries; Norway,
Austria, Portugal, dividend increase. Denmark,
350 22.20 Within 125 mile radius 1000 22,40 there are more than 60 million
potential European customers.
380 61
G5 05'
LAND, ETC.
200 Me.G 1200 65
44 144; 1900 11 45
1000 or 44.20
3004
3500 441
Cits opened briskly but then HK Hotel see-sawed to end with the
leaders showing small gains.
• Rubbers and teas were mixed. HK Land 04 661, 100065
----UPI
Closing Prices
British-Transport 3 1978, Homphoeys
355266
000 to $.50
300 (166
200 63.50
400 r,65
200 G25
לו זכך
And Supplemering this, there a railway system at is is efficient and fast-moving.
Productivity
Switzerland and. UK,
bers
}
As one of the founder mem- of the Six and an old trading friend of Britain, Bel- gium hopes the two sides will be able to come together before it is too late and prevent are split.
stressed.
nt
The hackers 1 saw The high productivity
35-%
01
25%
17
23
241
53
499
537
COLL
50
4114
38
Britain's growing
exports
of aero engines
THE production and export of aero engines is an activity well suited to the British economy,
s since the final product contains such a large ele ment of technical expertise and manual skill and makes relatively small demands upon either in- digenous or imported raw materials.
60
By far the larger part of the end still in service in many 43 cost of a modern aero engine places Later British military represents the technical know-alrorat, nelably the English ledge and highly-developed Electie Canberra tnd Hawtier to Hunter, both with Rolls-Royce crigineering skills essential
ils development and, production. Avon, have been successful in are in 2932 A comparison of two types of rverseas markets and 312 engine emphasises this point. A service with Latin American air
modern high-speed diesel engine forces and in other countries,
Dupont de Nemours
209
helped
Eastern Air Line
221
for automotive use, self a highly-developod
of
nearly
Eastman Kodak
1057
GAS TURBINES
The
El Paso Natural Gas
by
Family Finance Corp.
28%
Firestone Tyre & Rubber
First Nat, City Bank
Today's volume was 2,870,000 shares. Of a total 1.184 issus traded 339 were higher and 624
lower.
exchange American was 910,000 shares.
Ford Melor
Gatineau Poyer Georgia Pacie
General Dynaks General Electric
every
piece engineering, sells at about eight or ne shillings for
The development and intro- 30 pound of its weight, whereas
every pond of a modern gas duction of the gas turbine costs £20 engine to oirline operation has turbine perb engine
followed its acceptance into military service. While the British industry was closely
78%
S412
EXP much.
E
to £25, more than 50 lines as
aero
associated with the re-equip
The resources required. in the
ment of the world's air, forces development of modern engines are so large and com- with gas turbine engines, the 121 plex that their existence can be parallel process in the airline justified and upheld only by an field has been almost exclusively
a British development 36% Industry made up of large and
General Foods
volume
General Motors Gen. Pub Uui.
24
a
Bonds volume amounted $4,830.000.
to Gen. Tel & Eler.
812
Gen. Tyre & Rubber Gelty Oi
58.
Glidden Co.
were
30 Industrialis
20 Ralls
Americans
is Utilities
а
65 Stocks
40 Bands
in But at this moment it does
Oltedged Bonds
800
330
25.80
20 1500 20
£65-1/10
1750 25.90
Consols 1 - - £47!4.
Realty.
1925
1.95 932501.95
Com:ois 4-7155
20000 105.
Conversion Lonn 34. 1969
262-11/18
UTILITIES Tram
Funding £82-5-16.
Loin
3.2.
1959/60-
Star Ferry
Yaumsti
180
185
182
35 33 8780231 $500 332! 200 181 2004142
Belgian labour.
say, Wage rates, they
30% higher than about
Hanks
4%.
-Savings . 1955/05-£90-11/16. Savings 360/20-£90-4/10. Savings 3, 1965/75-73-15/16. Barclays Bank "A" Lid ord-524
1960/90-
200 185 100 186 100 287 125 186 200 135
in the two countries are about the same.
1
Hongkong-2011.
Funding Stock31999/2004- £09-5/16.
Funding Joan
Chartered Bank-52s.
Lloyd's Bank “A”~50-
Insurance
-Union Insurance Canton-£3*;.
Aircraft and Motors
British Motor Corp. Ord-18x 90.
Ford Motor Co-1078 1340.
Hawker Siddeley Group Ord-286
74.
Rolls Royce Lid Ordu's 3d.
Rootes Lid "A"-1&,
Standard Triumph International-
116.
Breweries
Distiller Com34
South African Breweries-285,
Buliding and Materials
Associated Portland
Coment-823
Goodlass Wall. & Lead Ord-498. · United-Steel 755 Gr
Coal, steel and Engineering Babcock & Wilcox, Ltd-37, 4lad. Vickers Ltd 294 4360.
Food and Tábarco
British American Tob. Co., Ltd-
Imperial Tobacco Cn..
LIU-618
Miscellaneous Beardman Marden Lid--is 754. British Oxygen Ltd. Ord. Canadian Pacifle Hiy-485. De La Rue Co. Ltd. Ord-639 d. Dunlop Rubber Co 20 40. Gilman Hulding Ltd-2s 71. Hongkung & China Go-16s 6d n. Imperial Chemical-55 3d. Lvons & Co-70 d:
Unilever Lid=1478-34.
l'aper
Bowaler Paper Corp Ord. $669. Radio and Electricar
Associated Electrical-629 Bd.
Electrical & Muskal-453 3d.
English Electrie Co-38s.
General Electric Bd.
Shipping
Indo-China Steam" Nav., Co. der
brd-2434.
187-200 184 neighbouring Holland. But-costs-001-see-how-this-can be brought
of similar end profiels made about.
C. Light XD 23.40 23.50 2000 +-23.40
5000 23.50 Like the British, the Belgians 130023.60 have to export as hard as they 500 23.70 can to maintain a high stand- 5:00 23.60 4000 23.50 ard of lving.
Electric
Telephone
29.10 29.40 180 29
12:00
29.10
All their raw materials ex-i
20:30 cept ecal have to be importer 500 29.30 One third of their food sup- 686 29.20 plies must be purchased abroad, These problems are overcome 1200 @ 29.40 by a high manufacturing poten-
500 € 29.40
2000 @ 29.50
300 20.50tial
1700 29.40
Last year Belgium exported 300 @ 29.50
of its glass products, 170029.30 80% 1600 29.30 75% of its non-ferrous metal 39 591 519 38.75 goods and more than 50% of its
2000 39
300 39.50 steel. 1000 31.25 All told it did an export trade 2950 @ 30
20039.25 worth around £100 million 10004 30.25 the highest ever achieved and a competitive of its 141 14.30 measure
Meanwhile
the
are investing large sums on new plant here just as they are doing in Italy.
Rapid growth
They are attracted by the rapid growth of the European market which has been leading in the world League Table,
1058, six Betwen 1950 and cornmon market countries ex- panded their output by 105% according to figures shown me. The world average was 68%. For North America it 54% The Commonwealth, ex- cluding Canada, tumed the sole at 51%.
was
What about Britain's affairs? Bankers hore say Chancellor Amory was right to bring in his al-new credit squeeze.
HK Gar
14.10.1430
1300 @ 14.30
600 14.20 power.
1640 14.20
Arms are Some British
up
500 ur 14.39 ready engaged in setting 0250
Their view: "We were becom-
14.20 here in order to get on the ing perturbed at the way your other side of the common mar-bank loans were rising so fast," kel's proposed tariff wall.
INDUSTRIALS Cernent
54
55 1500 53
LI
Dairy
30 2314
RUBBER
P&D Steam Navigation def ord... | Amplɛ,- (**
39s d
-
-Stores
Great' Universal Stores "A"-459 Trust.......
10350.
Marks&Spencer Lid-70s 744.
Woolworth E W. & Co. 600 41⁄2d
Textiles
Coats &P Lid-35s 3d.
Courtaulds Lid-598 411⁄2d.
Cona Goldfields of South Africa-
C13.04.
Cons. Zine Corp. Ord-13s.
De Beers def-133 94.
Hongkong Tit-9448,
Petaling Tin-8x 0.
Nerid-669-9d-cor..
Southern Kinta Con Ltd-20s.
Tinion Corp-50.
Wee Driefontein
162% 64 cor.
011
Goldmining
Brush Borneo, Petroleum Syndi-
crte 485 415.
British Burrah Petmleum-28.
British Petrole.m
Co.. Lid-5:0
ad.
Burmet 43 Dd.
Rovel Dutels Petroleum-214.
Shell Transport & Trading-1435
Reuter
NY sugar market
New York, May 10. World No. 4 sugar futures today closed unchanged to tour polnis higher with sales of 91 echtracts.
Domestic No. 6 sugar closed two to five pointe higher with zalea of 43 contracta,
World contracts responded to the firm tone in the raw market.
Surgala L., Crow. COTTONS Textiles
2900 Gr 54
80055
500 or 54.25
3000 $4.50
600 55
21554
car
at concern
a little
Possibly they were envious too. By Law, they must invest 60% of their deposits in Government Bills and Bonds.
"That is a credit squeeze that really hurts," one of them said "but we hope it will end soon." Then perhaps it will be the British Bankers' turn to envy
The Standard-Triumph motor
Coventry is building a plant at Malines.
Production, I am told by my 500 545 banker friends, will start with 3,000 cars a year. The intention 300 7 29 600 29.90 is to build it up to 10,000.
and Wade, the en- and- Smiths and the Belgians.
300 @ 29
1000 @ 30
Broom
1500 in 30.25gineers
1500 30.50
1000 m 30.75
1000 30,50
1500 / 30.25
200 or 30
500 ( 30.24
500 or 30
7.50
B.10 1000
7.75 11000 7.9
90008
9,10 9,20 2000 9
་་
3000 8.30
1000 9.05
4000+ B.15
55.00
39*% BOGG 384
11.10 11.40 3000 11.30
4500 11,40
2000 y 11.40
4000 11:30
5000 1140
15.20 15.40. 1500 @ 15,40
Nanyang MISCELLANEOUS
Glimard INVESTMENTS
Int. Allied
XD
HK & FE
Invest.
2.35 2.40 6709 2 35
9.30 9.30
€ 80 4000 6,80 1000 @ 6.75
.. 10.10 16.30 7003 6. 10
1000
NY cotton market
10.10
Yesterday's Closing
Dow Jones closing averages Goodrich (E, F) Co.
Comm. future price index
Closing Prices
Abilibi Pwr. & Paper Allen Inc. Aty
Algoma Steel Corp. Allied Chemicals Allied Kills re..
All Chalmers Am. Brake Shoe American Airline American Cable & Radio
Corp.
American Cyanamid Co. Amer. & Forgn. Power Am. Gis & Factric Am. Home Prod.
Am. Mach. & Fdry. American Metal
-Am. Natural Gay
American Smelting
Am Suger Ret.
Goodyear Tyre
137.68 Grumman Aircraft
68.st Gulf Oil ......
20%
70%
604.82 Great Northern Railway.
42
24
200.18 Hammond Organ
0412
18%
36
39
203
51%
31
82.76 Heyden Newport Corp.
Hiram Walker....
140.37
Homestake Mining Co.
Huysman Refrig.
Idaho Power
Imperial Oi
39 Imperial Tobacco
Ingersoll-Rand
thriving units. Up to a quarter The turbo-let "engine as ori- of the manpower of an aero en- ginally produced for military gine manufacturer will be oc-use required extensive dava- cupied solely with research and lopment and modification to development
the make it suitable for ziling work, for
operation. As a more immediate aero engine business is extreme measure it was apparent to the British industry that many of
very
121 ly competitive and the
nature of the product puts a the advantages of the gas tur- premium upon even the smallest technical advance.
36-1
434 Inland Steel Co.
8005
331
Interchemical Corp.
48xd
Int'l Businene Machines
430
3424
Int'l Harvester .....
4412
2941
International Nickel
104
43
International Paper
100
1Bxd
Inti Tel & Tel
4214
EXTENSIVE
Jolms-Manville Co.
5712
Pia Katser Industries
55
Kansas C Power & Light
5314
BKennecott Copper
WEL
514 Kimberly Clark
724/4
159
Liggett & Myers Tob. Co.
80
1,2954 | LA- Tulip
219% Lition Ind.
cont.
59 Loblow Groceteries
45% Lockheed Aircraft
Loews Incarp...”..........
$72 Lone Star Cement Co. ****
26
|
American Tel & Tel American Tob Ampex
48 McDonnell Aircraft
Arraconda Copper
Armco Steel
Armour
Asbestos Comp
Atlas Com, Miming Baldwin-Lima•Ham.
Hatimore & Ohio Bank of Montreal Beren Life Savers Bell Telephone
Eesencial Finmce
Bendix Aviation Corph Bengurt Cons.
Betlehem Steel
Boelg Airplane
Borden (The) Co. Burroughs Add Machine British Amer. Oll Calif. Packing Corp. Cann. Bk. of Comm
COMMODITY PRICES
COTTON
NEW ORLEANS
LONDON
Closing prices, all in sterling
per long ton!
Tw, spot
Xanth
3-month
SUGAR
NEW YORK
51% Lowenstein & Sons,
30% McDermott J. Ray
-59% Merek
39% Meshi Inn Corp.
Minnesota Mining
bine engine could be obtained by harnessing its power to drive a propeller, and it was with this type of engine, the turbo- prop or prop-jet, that the Bri
industry Arst captured The equipment which, in ad-large parts of the world market dition to human resources, is for civil aero engines. The Rolls-Royce Dart engine in the essential to the maintenance of
Vickers Viscount has been ex- a major position in the world ported to 32 countries since in- aero engine industry is be- troduction in 1959, and the coming increasingly exten-Bristol-Siddeley Proteus, power-
sive and elaborate
the
2511⁄2 engine tself becomes more plant of the Bristol Britannia, developed and refined. The has also achieved world success, installations required to carry Although the turbo-jet engine out the immense work of has reached a practicable stage 74% developing and proving an en
STU
the prop-jet engine sill has an
pounds to establish and mil assured future. At *ranges
maintain and where cruising speeds
lions more
to
above
25
G
Mission Development
1 gine cost many millions of
of development for airline use,
3312
1314 Monsanto Chemical Co.
Montecatini
513
34
Montgomery Ward
Motorola Inc.
44
National Biscuit Co.
2014 National Cash Reg. "A"
5744
51
11%
National Lead
773
43
National Steel Corp.
241
New York Central
47124
Norands Mines Ltd.
58 National Dairy Prod
24 Nortaik & Western Ry.
20%
33
North Amer. Aviation
Northwest Airlines (Com.) 50% Oxahamn Nat. Gas
Olin Mathieson
Otis Elevator Owen-Illinois Glass Oxford Paper Co. Pacific Gas & Elece.
Pan American Airways Paramount Pictures Parke Davis Co.
Penny I, C. Co.
160% operate Rolls Royce' put into | 408. miles (640 kilometres) an operation last year a. High hour.at.medium akliudes pro- Test Plant costing duce block times similar to Altitude
£6,000,000, and this is but one those obtained by jet aircraft. of the installations required. flying at high altitudes, the operating economy of the prop- The These resources of men and jet yields advantages. cquipment 'exist in Britain. The prop-jet is also well suited to atro engine industry there has the requirements of feeder-line a worlding strength of 70,000, operation in under-developed
413%
fruitful 14
and its skill and equipment areas of the world and, indeed, of an order sufficiently high to wherever economy is of pri 60% have established British power importance. A most 17 plants in their present position. market for this engine is as
power unit for freight transport aircraft, and the Rolls-Royce Tyne prop-jet has been sold to American freight carriers i stalled in a Canadian-bulit air- craft, the Canadair · Forty- Four.
121
Pena. Salt Ca.
2F%
Philip Morris
Pitney Bowes
30
Procter & Gamble Co.
Pittsburgh Plate Glass
Publicker Industries
9
Pullman
Pure Oli
Radio Corporation
The British domestic market
to
is, of course, insufficient absorts the full output of an in dustry of this size, and manu- facturers Bre compelled to think 71% in terms of overseas markets for all its projects, particularly with development costs at their pro
tent level £10,000,000.
to
£15,000,000 for a large engine U.S. ship unloads
Since the end of World War 9
11, exports of British aero en- 323gines have become a factor
29
Raythepa
Republic Steet
503:
Reynolds Metal
Buyers Sellers
Royal Bank of Canada
205
780
Royal Dutch
**83
281
Rhoom Mig.
24316
249
Sears, Roebuck & Co.
50
24435
24494 773%
Shell Of Ca...
Closing prices all in cents
per
Safeway Stores
7835
923
1b.;
Saint Rog. Paper
38
Aug.
01%2
Contract No. 4 (world)
-UPL
July
Sept.
Oct.
Jan.
Mar.
May
Closing prices all in cents per Lead half May
Zinc la hal May ib.:
Spot: 31.75; May: 33.21: July: 32.79; Oct: 30.93; Dec: 31.30; Mar: 3157; May: 30.90: July! 30.03: Cet: 30 Dee: 30.93; Mar: 31.33.
SAO PAULO (Closing prices us in cruzeiro per kilo):
May: 04.02 July: 83.00; C: NÓTA Average. price in U.S. at 14 de signated spot markets; 22.18 cents.
Total sales: 8,931 bales,
New York, May 10. Cotton futures today developed
more activity and steadied 1b.: under posting fair-sized gains during the session.
LIVERPOOL
Closing prices all in pence per
...
Amercan Contract May/June: 22.80; July/Aug: 22.20; Oct/Nov: 22.20; Déc./Jan: 22.15: Mar/Aprii: 22.05; May/June: 22.05
Mixed Contract
Evening-up in the May de- livery, before Its expiration on Thursday, co-featured with some commission house buying May/June: 22.40; July/Aug: 22.45: in new crop months.
Profit-taking whitled part of Mar/April 22.40; May/June: 22.40
the gains away toward the clcsz. The market opened up four to off three points, New Orleans closed off twq to up eight points,-UP);
Exchange rates
Baskarence Was done in the local Dealers, said Belgium was in unofficial exchange market the market for cargo of raws morning at the following rates:
1179 dpiam iper BI).
for port "Ehipment. “Dealers Blvd | Sterling nulas; (per £14 expected France to buy about | Australlen, notes: (per-21)
Ladonnay, nubiah (per 100) 25,000 tons of-raws next weak 15 201
Shingapore (Sirgits)
Oct/Nov: 22.45; Dec/Jan: 2245;
-UPL
METALS
RUBBER
Spot-IFAS. Cuba) 3.03 els a 1b.
Total Sales: 8 contracte.
Opin interest: 8,120 contra***. Contract No. 6 (domestic)
July
Sect
Nov.
closing
Spot-(Cit. N.Y, ex-duty) Alb
Total Sales: 43, contracta. Open interes 3,318
UPI.
'NEW YORK Rex rubber futures prices, all in cents per lb.
May: 42.85: July: 41.02; Sept; 40.05; Nov: 39.40; Jan: 3890: Mar: 37.90; -May: 37.20.
LONDON Closing prices all in peale fer
No. J Has spot
4094-4114
Belllement house term:
April/June
3916-40
July/Bept.
30%-30%
Oct.Dep,
344-34%
Jan./Mnr.
General markets, c.ff. hauls, ports:
May July LAERISIRES | Estate crepe thin May..
NEW-YORK- Cloring prices, all in cents per
thick May
AMSTERDAM
3844-383%
Schenley.Inc.
Scott Paper
3.096 Smith, Kline &"French 2:18
Recony Mobil în
5.10b Solar Aircraft
320 South Puerto Rico Sugar 3.28b Southern Co. (The) 3.29b gouthern Natural Gos.
Southern Railway (Com) Sperry Rond
5.2
Standard ands
Standard Of of Cel, Standurs ou of Ind Standard Oil of N.
5.96
5:08
Steel Co. of Canada
545 cia Sterp Rock.
Sterling Drug Co. Stokely Van Camp. contracts-Stone & Webster
FOREIGN EXCHANGE
NEW YORK Closing rates: England official
7.30-days.
New Zealand Routh Africagpat
Cits unchanged. Closing ro
14.
Closing prices all in guilders New York per kilogram, cil. May:
This ib.:
Lud
May Kably. 14.3€ Zine. Mary
150 Copper, „MAY
11.40
4
$150 | 10, 1 rubber
4156 N. & rubber
2925 No. 1- prepe
3129 No. 3 rubber
Montreal Copenhagen
Zuric
LONDON
Studebaker-Packard Corp. Sunshine Mining Awift & Co.
Texas Co
Textron Ine. Thloko! Chem.
Tide' Water Oll
Time for
· Tzøders Finance
Tri-Cont. "Warrants...
Twentieth Cetary Fox Pliny
Talon Carbidejk
Union Pacific Railway
Tolués Aireraft:
United Fruit United for forp. 2B070 | TIA, Poll "p" 2E18. Ovpsum”. 22070 ITA. Tine Co. 28170 9, Rubber:
18. Amelting
14 Septland
U.S. Sl 7 P.C, PF, Warner Bros.
- 2.00) 11/18-2.80 13/16 Wertinghouse Air Brake“
Wertigbones "Vietirin: Western. Unina Tel. Co.
Winn-Dixie Alorre": Wentworth (K, W) Zenith Radio
growing importance in overseas-
Between 1948 and 1958 22% trade. 831xd the annual value of British sero
in Beirut
Beirut, May 10.
24 engines and parts exported has THE -7,101-ton- American
2114
14
risen from £3,200,000 10 and in 1959 the £49,500,000, 45% total had exceeded £59,000,000
by the end of November.
4 RISING TREND
3793
41*%
The rising trend in 'British exports haa
beefi
closely
Tfreighter Flying Fish
was unloaded in' Beirut bar- bour today—a few hours after Arab workera ended their boycott of American shipping.
The Flying Fish had waited
149 Ruza ed with the development two days outside the port,
as
of the gas turbine engine. This awaiting an end of the boycott. 1312
AP, it exists at present in the Western world, stems, from a "British development...
1
1****
2
21
3012!
10%
62
original inception, the classic work of Sir Frank Whittle, was
for military purposes and
New Empress of
initial development took place i ubarmiln during World War II. The
erty of the gas turbine for Canada launched
military aircraft ded inevitably
to the re-equipment cg the air
forces of the world with aircraft powered by jet engines,
*
A lange part of the market
- London, May 10.
THE Embrest of Canado,
17,300 tons liner, went to British aircraft with was successfully launched mist today on the Vickers- 1419 Brich enghia, The
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Rolls-Royce Derwent and delner, was built for the Havfland - Gobiid zengines, = ex; | Coridian Paolße 1 AT A COM 04 pnted to all parts of the world