THE CHINA MAIL, MONDAY, DECEMBER 12, 1960.
Weekly survey of American economy
SCIENCE SANII
A GROWING AWARENESS ENGINEERING
LONDON Wall Street
STOCKS DIM
London, Dec. 11.
stocks rise
New York, Dec. 11.
Not even the 1⁄2 per cent The stock market registered its best gain in more
cut, to five per cont
in
the bank rato on Thurs- day could lift the gloom.
. from depressed markets. Industrials continued to fall back on a broad front. The volume vi business re-pantes mained very small. The specula
hard hit but tive Issues were falls in the blue chips were not particularly heavy. Dunlops lost
the 1 shilling
weck, Contrapids I shilling 9 pence
100
and Holls Royce less +hiilloy.
Inn
R
dis-
4
Steels
back on appointment with dividenda-but leading tobaccos firmed, Ford
7 shillings and improved
148/. The Detroit pence to vifer price is 145/0.
· Times Indus- The Fluumdial trial index lost 7.1 - points atid eaded at B
new low point 203.4 for the year, against
Br 342.0.
of
Gill-edgeds were losers over the week but steadied on Fri- day, getting some help from the lower bank rate.
bonds
Dollar stocks were better on balance but Shell ended lower,
Foreign
Ineket ten- moved having tures, Grecks Harrowly but ending nearly Jevel across the week.
Gold shares failed to attract interest, Tins fell back lower, Teas steadied on Friday after a week but rubbers lack-lustre .gove ground.-UPI.
HONGKONG
STOCK EXCHANGE
than a month this past week in what manying amounted to approximately brokers see as the start of a year-end rally.
utilities
aveinge
Business done at the Hong kong Stock Exchange this morn-
$3,200,000. Moon' quotations and the morning's transactions:
Sharas Buyers Sellers 1X Bank 142 1430 Union Wharf Wheelock
They cited the switch in In-Dow-Jonta terest from many of the recent reaching a 30-year high. trading favourites such as re- The biggest disappointment in staurant chains, diet food com- the business world this past
the more eyelleal week was the fallure of con heavy industry stocks such as sumers to go on a Christmas steels and chemicals.
buying boom. Sales did pick up a bit from the preceding week HK Dock
weather in some colder
stimulated buying but areas volume ran substantially below a year ago.
Was
The bullish segment of the trading community also encouraged by the advance in railroad issues on Friday in the face of declining carloadings, The failure of the calls to sup- on the port the upward move part of their industrial counter-
sessions had been seen as a sign Part in the preceding three of technical weakness.
In investor in- The change terest was attributed to a let-up | in the recent heavy tax selling page, and a pletup in the rein- vestiment of funds derived from these fransactions.
.
RESPONDED
The market also responded to hest of individual corporate including new anouncements, products, stock splits, dividends, Rood sales reports and forcecasts. Stutisticians were encouraged by
Provident
About half of 200 members
convention of¦ HK Hotel attending the the ratiotial association of IK Land manufacturers here said they bellevét their companies would do better in 1961, bat only 11 per cent definitely expected poorer business next year.
Yaurat!...
Bonus
Snies rose substantially on the advance this past week, amgun!- ing to 18,314,785 shares, or an average of 3,062,057, shores per | Hic "Tram .. day. It was the most activė week since mid-May and gave further encouragement to the bullish forces. Last week sales totalled 16,808,950 shares, 3,301,700 shares daily,
Big home effort Conference needed to regain about
The
lost ground
Ster 40 નામ 331420
2TO
63 A 201
9.03
91 2009 DIS
40000
100 or 0.45
114
115
300 115
23.30
500 2000
1000 24 300 20
100010
29624
3000 24.10
1800 kn 24,10
1100 24
Ing of the pickup is now being
1600 Ft 42
73
400 @ 7214
transferred by most analysts to "ater in 1001"
110079
200 ** 733%
3007 7354
3400 73
200 0 7210 221 6 7215
1700 7215
300 14
100 103
34
200 3312
200 ( 331%
403, 331
נן
יכל 250
10074
C. Light XD 20.00 25.70 10000 200
$700 6 26.90
3000 64 20.00
or
HK Elec. 20.00
1500 26.70 20 500+ 29.90
500 à 20.50
1500 6 30
2200 or 30-
381 301 1000 2815
SPETTY norú, uniqi 201- noured some new computers, was the moet Active is OTY les of 278,400 zines. It doe
the jump above the 008 level by the Dow Jones Indus trial average: by the number of new 1900 highs on Thursday at 2314, outnumbering the and Friday new lows for the first time in about three weeks; and by the
P.O
ORIENT
LINES
EMBARKATION-NOTICE-
R.M.S. "CORFU”
EMBARKATION: The ship will be berthed at No. 1
SAILS:
BAGGAGE:
Pier, Kowloon Wharf. Passengers should embark between 2.30 p.m. and 4 p.m. on Friday 16th December,
1960.
The ship is expected to snil at 5 p.m. on Friday, 16th December, 1960.
A
Should be sent to the Hong Kong and Kowloon Wharf Co.'s Godown (No. 2 Gate), Canton Road by 5 p.m. on 15th December, 1960,
SUBJECT TO CHANGE
Agents:
MACKINNON, MACKENZIE & CO.
OF H.K. LTD.,
Telephone: 35211/9 -
42 points' on tie week. Chock Full Ohuis
(NJ), Standard Oll
Am-ricer Motors, ord Being rounded out the top Дyc.
10 Tel.
זן
Rights 21.10 21.40 1000 27.00 52521.40 1000 21.30 6214 1500
800 03
The Dow-Jones averages "al the close Friday showed 30 in- dustriels 05 010:90
14.00 up
6.35; Nanyang points; 20 rails 127.77 M is utilities 07.02 u 1.64, and the biggest since 98.01 on June
0, 1930: am 65 stocks
up 3.56.
STRONG
PRICE QUESTION
hears
new British
computing system
bo
London, Dec. 11.
advanced now British computing technique was discussed in a lecture, to an international audience of scientists, industrial chomists and control on- gineers at a conference in Brussels recently.
The indications are that in the But again the price questionations and at lower cost than 300 fret half of next year the total comes to the fore: The goods is output in goods
by
feca
New York, Dec. 11. awareness
grew. among American businessmen and government officials this past week that the U.S., economy | An will have to do better at home if it wants to recover lost ground abroad. Consequently, with one eye ducts made either by financially on the necessity of a revitalised less strong areas than the 19 export programme, they viewed countries indicated, or in the benen- States Chiet with misgivings current indica- United tions that what is now being ciarles of this order could cons
Tus technique, which t❘ Processes, brganized by the termed a "high-level stagnation" celvably be American steel and
mo- tines the advantages of analogue Insitute Belge de Regulation of business may iron, butomobile, textile, In U.S. domestic
the the extra d'Automatisme. reach lower levels before a pick-chinery, tertiliser, chemical and compratation wit
Held In fuellity of digital data storage, Palais des Congrès, Coudenbere, up"occurs. The estimated "tim- | rubber industries.
chables certain catulations to Bruneis 11:1 21st to 23rd dork with simpler InstalNovembár. 11 was attended
delegates from possible wit conventional | European countries. and services-thus purchased from American computers.
Main subject of the 21 Papers be The technique the gross national product-may manufacturers would either
Redifon same in the
Analogue- wos the application of analoguo drop one or two per cent; indl-in small volume for the
Compuling System, computers to the control and ividual spendable income may amount of money: or the reel-Digital
ald
RADIC. which was making for
In design of chanical plant. Also decrease, although not by as plents of foreign
In June this year. discussed wero operational much; and that unemployment, these purchases would have to troduced
subject of two
which research methods, in currently at six-per cent-plus of spend more for the same volume it
Brussels con-
computers were used in calculate the total labour force will get of goods they probably got pre-papers at the even higher in the first three viously from the 19 financially rerence; "Analogue-Digital
the most efficient utilisation of tountries. This Could Computing Methede" by J. 1 plant and transport facilities. months of the New Year and "be strong
mean more foreign ald but this Archibald, Manager of the troublesome."
would money difference: The
his Archibald told Mr Division of Redifon Computer help simulate Ainerican econo- Ltd.. д
and U.K. Arm
"The audience how the addion of a An acknowledgment of themy and at the same time right last possibility is seen in Presi- the unfavourable balance of pay Use of An Analogue Computer magnetle-tape digital data store for the Solution of Linear and to a general-purpom analogue dent-elect Kennedy's move in menis position. giving priority to setting
Another stimulant which the Non-Linear Programming Pro- computer greally increased the Firth, range of postible application for by A. W. 0. machinery for aiding so-called
been bigms", has already government
He explained depressed areas. These are cur-
how.certain computallon prob- of the Atm. rently mostly around the steel sing on the domestic business Seior Applications Engineer of the computer.
the beginning and plants and the coal mines
works autumn and one which
The conference was a three-lems in the design of chemical railroads depending on them.
somlar on plant were simplified by using International more direclly-is increased de- | day On top of this, business spend-fence spending. Since October 1 Analogue Computatlon Applied the digital storage system to ing for new plant and equip the now
Study of Chemical hold partial results of calcula- ment, declining since mid-year,
KENNEDY'S MOVE
up
front sinc
contract to
of defence
a decline expected to drop further inwards to the industry has been
Intensified, resuming stages of 1081. early
in the past Ascal year. The dec- Government estimates place cur
line In defence contracts in the rent quarter outlays of this kind
Cement
LINE
10 13
Daly Watson Allied Textile
1000 + 33%
F
Ιαν.
620
B.40
the
6.90
324
5000 9.10
3000
9.01
4000
D
18.00
16
400
18
1000
14
2000
15.1
9000 13.10
202.57
Amat Rub.
Tuh. Trust Taikoo Pocke
5.03 8.70
2000 10
6.76 1000 .75
1.50 212
200 of
300 1214
Universal Oll Products held i
at an annual rate of $35,300 mil-59-60 fiscal period ending tast Stan, down from $35,000 million June 30 was some 11 per cent,
the first in Ave years. In the preceding quarter and the from $38,300 million- In* second.
Predicted expenses for defence Пscal contracts in the 1000-801 perlod will total $21,700 million,
For the first quarter of 1901 a
a fifteen per cent gain over the A decline to an annual rate of previous budget period, that is, a $34,000 million is foreseen. Thonet gain of four per cent over reason behind this pinch
the level before the decline started.
unchanged despite news it is lumphreys-2515-25-80-1200 25.80 CDst-cutting effort on the
studying
the possibility of Really making a new undisclosed pro-
1000 or 23.30 1.15 105 10000 L 1.95
10000 G 1.9
DO0 a 18.10 16.20 4500 de 18.20 1000 415
Gas
.. 10.10 10.20
45
part
of virtually every manufacturer as a result of the latest phase in America's post-war profit- squeeze, currently the worst in than 20 years. These more cost-cutting measures naturally Macao Flee 12 13 1505 12.00 are much to be blamed for the re Underwriters 11.30 11.80
generally leaner economy. Tot In... 10.00
Lane, Craw
Gilman
duct In
chemical the
fold Co, gained while Wilson & declaring four 40-cent quarter- ly dividensia In advance for
Corp., still 1061. Hupp ponding to its inclusion in a aancial publication article re- grading heavy government de Star fence spending, rose another h point.
US & FE
31 425 2000 915
Lay.
Ferry
1830 18.00 183 180
Agreed merchant
DEFENCE
the was
the
New pinning machine
used
tions.
cd
Mr Firth, in his paper, show- how the system is used for solving linear and non- linear programming problenz, enabling the best possible use to be made of industrini re- source. In particular he dis- cused the application of these methods to the optimisation of boen invented and de-† various processen and: opera-
British machine
hos
veloped to automatically ions in the oil industry.
the carry out
pinning The Rodifon system is par Reasons for this boost are process-in-cloth-weaving cularly suitable for calcula- changes several: Election year politics, In a fraction of the time tions where frequent
now. taken by a team of of Input data have to be made such as the Eisenhower admini- stration hurriedly trying to an-
to keep tracic of a changing four operatives.
to find optimum situation or awer charges of cutting down on
The machines. which is the conditions. For the design of automalic control since the collapse of the Paris defence; increased world tension submit last May: finally, indica result of several years work at complex
"electronte Estlinated 1940 profits, at just tions that Kennedy is almost the (Leeds) headquarters of the systems, the system can be used
as an inexpensive ever 10 per cent return on net certain to keep defence on a high Wool Industries Research Asso-
model" on which preliminary worth, will be actually lower
clction in the UK., is already In level.
experiments can be carried out than those in 1947 when they
and production for the home
for example, The Admiralty, and amounted to 14.8 per cent. Then,
markets Commonwealth
han ordered one version for use of course, labour costs were
orders have been received from
as a simulator in the design of much lower. But climbing costa
Despite the implications of the Australia and New Zealand, of the most expensive factor so-called Symington report on
naval control equipment, and American production the defence reorganisation, which in- Known as the WIRA Dropped instrumentation. human element are not thedicates a saving of almost $8,000 Pinning Machine, this latest aid
the system is an the only reason for
proft million, experts point out that the to increased efficiency in the lex- Basically squeeze. The latest phase
tckes ever from expandable, d.c. analogue com- Was saving is meant to be chiefly intile industry weak brought on equally by a
administrative costs and not in human fingers one of the most puting equipment, with digital
the same time input, output and control fac
Д and factured items.
magnetic-tape the accelerated B-70. bomber most vital jobs in weaving. This lities
unit. Extra Pace structure on many manu actual weapons outlays, such as tedious angers
Warp digital storage HUMAN ELEMENT programme. In other words, is the placing on coch
can bo Sume manufacturers feel the business will get the money no thread of a dropper a thin computing elements
odded easily and of minimum only way to get out of the matter what, "If the programme silver of melal rather like a
most cases without squeeze is to try to eliminate the. is adopted.
clothes peg-which in the event coet-in human element as much as pos- Concurrent with increased de- of a thread breaking drops and changing the cabinet-LPS. sible-in other words automation fence spending is a tip from operates a devied to automatically with all its repercussions in the Macke & Co leoding Wall Street stop the Icom. It the foem was labour field. But this involves analysts: The firm favours com- allowed to continue running
of outlays |mitting one's funds to defence | after a thread precisely the kind
breakage there Business was done in the local
new machinery and plant Issues with long-term upward would be a fault in the finished LINDÍTIC exchange market this
which most manufacturers have earnings trends.
material and the cloth would Stocks on the American Ex- morning at the following rates: change moved higher. Techni- | 1.9, dollar, iper 331 puja...***
been trying to cut down on
The administration is pleased need mending an eperation Yet, eventually way will have with the current export drive. color was most active and added Sterling notes (per £1) ........... Australim notes (per 1) .... (14 to 11. Sperry Rand warrgnis
1381 to be found in make produellon The gain in exports shipments which can be expensive. Indonesian Rupiah (pat 100) 3,10 fellowed and rose 1% to $10.-
26.10 cheaper, if for no other reason this year is some Stam tieals (per 100) UPI.
Singoord (Slewits}
rates
Pushing up the Dow-Jones Industrials were Du Pont up 3, Bethlehem Steel up 14. Good- year up 1%, John-Manville up
up 14: Owen-Illinois
14. Procter & Gamble up 2 and Westinghouse up 1%. Carter
minimum buying Sterling, Products soared 44 points in the drugs. The issue has been (with Confirmed L/C) 1/3-1/13 very strong all week,
Following Sperry Rand mast netively avere American Moters, Rayonier up 1⁄2, Hupp and Lock- heed up 1. Nine of the top 15 were higher,"two were lower and four did not change. Moving lower were Kerr-Mcgee prefer red, and Lionel,
|
O/D (unchanged); 1/3-5/32 30 days (unchanged); 1/3-7/32 60 days: 1/3-9/32 90 days: 1/3-1 120 days,
Exchange rates
Commencing Soon...
LUFTHANSA
GERMAN AIRLINES
BOEING 707 INTERCONTINENTALS
direct from
HONGKONG to JAPAN and EUROPE
Por Reservatione soo your Travel Agent or phono
JEBSEN & CO.
3361
15.89
20 per cent, The tedious task of hand
TV camera tube
sees red
111 than to make American products almost $20,000 million at an an placing droppers on a warp of
more attractive in price and nusi rate, up from last year's anything un to 7,000 enda sually. A telovision camera tubo competitive on foreign markets. $16,400 million.
took a team of four girls several
The Dropper Pinning
London, Dec, 11.
which con "seo" a burglar prowling around a bank in The dark, for observe tho nocturnal habits of owls and bats, is now being manufactured by a United Kingdom firm.
This would be one of the first The 1001 exports goal is cur- steps required by the administra-rently being set at 23,000 million hours. lion's current accent on exports. and if the present emphasis Machine can complete an ever- Steel is a case in point: While to maintained, I could easily age of 1,009 ends in five minutes domestic business was slow this be achieved, To the uninitiated and requires only one operative a startling re to set it up. The new machine year and the operating rate there was hovered around the 50 per cent. velation In government Agures Lakes up to extra space on the loom, but works within the con- level, U.S. steel manufacturers this past week showing that only
frame, ard with all the facilities at their dis- five per cent of American busi- fines of the loom
to get into ness Arma take part in one way does not require changes in posal were unable
or another in export trade. So warp tension or other cridavidicon tube of standard dimen foreign markets, not oven re- capture the ground they lost be there is obvious room cause of last year's crippling pansion.-UPI. sirike. The reason: High prices of their products.
*
in
The administration
trying to open up пет vistas foreign market
'for American business men in every possible:
the
for ex- settings
Foreign car
sales in U.S.
Blatos of
New York, Dec. 11.
which could result
In weaving faulte la the
This is an intro-red-sensitive
slons, so that it will fit into any
In bolt there applications
Anished cloth. Planing can also ordinary vidleen TV. camera, be done way from the Icom in some twisting fromes, or in a the peene must be illuminated by intra-red lamp, but these
special frame.
are not easily detected by living Operation of the machine servatures.
Vaaleaby simple,
After the
warp width has been set, a light The infra-revi camera tubo alloy truck is clamped to be can also "
temperaturo
loom above the threads. The without the ure of intra-red Mr John T. Panks, Managing strip assembly is fastened to the lampa When ́an object-such way. The order, earlier pirostor of Itootes Motors track and gauges locating thro na steel plated healed up this past week, pro- Incorporated, today predicted leases relative to it are inserted. fram room temperature, it hibiting nationa to foreign car sales in the United The mechine itself is inded beginn to radiate Infra-red ceiving U.S. foreign aid 60,000 In 1061
from 400,000 to with droppera ́in two, four or light, or heat raya, The, Lubo from spending
In a special imported Car money in 19 financially taste of the trade Journal, strong countries, is just Automotive News, Mr
Bald eates of importa would such a move. In effect,
remain relatively stable in It amounts to making years to come with total Im- some $100 million in port sales gaining whenever foreign markets avail overall chr sales rose,Reater able to American' busl+ ncaster, if they move
In fast and try to make
their prices competitive.
The admiňláfestive order · be quires that the $400 million in
Unit trust
First Hongkong Fund: Myer Price: $1.00.
Bid be spent on gooda anu pro» |" gellar Frien: $1,18,
Paties
six delivery, chutes and rum enn dep the object dis it reaches along the drack selecting
450
"dogtrees, Deßlighede,, and dividual threads and placing a gives A brighter picture at dropper on each one. An higher TCRBPORNFUTES, -Tha most fool-proof checking proce- | inuman eye can only detect a dure ensures that no thread had duff ved glow at 450 degrees ben malted and that no dropper Centigrade after the oberver supported by more than one has bech in the dark for some 1hronil.
minutes. An -obellloscope can with To facilitate maintenance and be used in conjunction rapid replacement of parts the the TV camera, to fuckture the machine is of unit construction, amparo of the object to a This each unit beint easily removed, high degree of accuracy,
of the intra-cell Correct timings are achieved by application Butte simply lining up marks on camera tube has many usta in the varios components, Lag, industry.LPS.