THE CHINA MAIL, MONDAY, DECEMBER 19, 1950,
Weekly survey of American economy
SCIENCE AN
WEATHER DEALS A BLOWNGINEERING
TEXTILES WEEKLY REVIEW
New York, Doc. 18.
Cotton print clothes were
moro
wook
amounts
active this past
and
Heavy losses HONGKONG
in retail trade
New York, Dec. 18.
moderate Nature conspired with depressing factors
were sold for
nearby delivery.
Ruyers continued to press for
lower prices.
Gross manufac
suring margins on print clothes
are at seasonal low.
of longer standing this past week to deal American business an unwelcome pre-Christmas blow.
STOCK EXCHANGE
Our Own Correspondent
Business done
at the long-
kong Stock Exchange this morn $3,400,000, Noon quotation, and
ing umounted to approximately
the morning's transactiona
Buyers SellNTS
Bharca
Sales of action yarn picked The severe snow storm which paralysed almost half K Bank
up And moderate quantities were sold for fret quarter 1961 delivery. The Improvement in demand seemed to have check-
Better grades of Manila hemp advanced to cent u pound as a result of the continunt scarcity of better grades,
Sisal markets were slow but at the remained from prices higher levels reached in the previous week.
losses cani
surveys
50
can never
:
Wall Street A new concept im
gainst con late rally
New York, Dec. 18.
4701430 It took a sharp Friday rally to put an indecisive
Spiek
bo
Whert Co. Wheelock UK Dock
+
200
113
100 14.2 .. 14.30 14.50
30 14.30 50 204 265 916 3000 9!S
600
314
23.70
1415
the nation's population earlier this past week resulted in retail sales losses which made up. The Christmas sales volume, [ But the sales story was notch. ed widespread price shading.
behind · 1959, | just synthetic fabrics already trailing
of weather. onc
There
Katol Trading in
be showing o have been early signs in the HK Land.. was mixed. An industry survey will obvioush predicted that producing e:pa- further dip as most stores Icst fall that consumers this Chirst- many evca mas were bound on mere lock- eity would re four per cost in at least two, and the next six months.
three valuable shopping days. ing than buying. Savings have been consistently up, ceaing Production and services suffered
there was less money to spend. too, but their made up, not so in retail trade. The consumer credit curve was
Various
cenfirmed beginning to show a downtura that most relalling outlets have for the past few months. Much been trailing in sales since less new credit was being taken consumers contra- Thanksgiving, some three weeks on, instead ago, behind the swift 1959 pare. trated on repaying older instal- But it must be remcenbered that ment debis-to the tune of 13.41
reeard 1959 was n
per cent of their total disposable December
income in October. This is an month in retailing sales and
and Won Heding was slow, Re-rould have been hard to match unsually high percentage
reflects partly the high level of try ports
overseas nurkels anyhow.
made in Melbourne
instalment purchases Resorts were nixed. slightly lower, Brisbine steady; country white prices
were in sellers | mates o! favour in Dunedin.-UPI.
pending on from about cent below volume.
Burlap prices were unchanged and trading was extremely dull both here and a Calcutta.
OFFICIAL NOTICE
Proposal to change a
Ship's name
was
ANTOES
the from varied in their est-1059.
this year's Joss-de- It is also explained by this
Individual stores-
400 4 $14 100114
23.69 2200 2300
2200041
2009 73 1500 - 7416 500 234 190074
39244 703 in 7415 100 75 400 74
400 15 10075
600 + 75 40000 7471
***#ria//
114
110
100 114
Bonus
107
100
Yaumati Ink Tram
07
31
*
Ch Light
XD
.... 20.30 261:
29.50 29.00
Tele.
(old)
30 38!
G. Cement 003 61
of life of the American five to eight per fact
December's economy: In periods of business K Elec... Jae
recession, when the Incomes of many tend to contract, the per-
of income centage
taken by payments
instalment on pas! purchases, naturally rises.
STILL LOWER
This conlrned earlier figures 1000 sales that the overall
New Instaltnent credit exten- 1, SUL-LUONG PAO of 19 volume would be some two per Java Road, 2nd Floor, 1ontrent below 1959. Will the un-sions in October were just over kung, hereby give notice that expected snow storm the over- $4,000 million, about eight per Dairy
all level of this year's solescent under the record gure of may be lower still. consequence
in
of
in
in
300 114
50 115
530 $14
203 104 400107
250 137 2000x100 15107
ES 0 07
1000 u 20.30 e1402530 7503 20.49 200 in 1987 1500 29,70
1000 m 30
530 250201% 500 or 30 ZCO or
30003
450 04
33 < 84
Watson
37
100 A 30
Texlifo
300 of 0,45
WDS
Indications are the inst April. downturn continued in Novem- ber.
1000 or 8,15
4000 0.40
1000 / 1,35
i
2090 0,49
The situation was
bound to
2000 er 8.43
COVO 4,15
2000 ce 14.70
were
arc
5.60 3.70 05.03
1000 u 5.03
2000 5.05
. Trust Taikoo Dock 711 7236
740
Realty
NK C
10 10.10
HK & FE
Inv, ..... 15.20
uf change
The lite development warship I have applied to the Minister of Transport appointing as it came en top November October ind Aviation and Civil
under, of
pro- net worse before f improves. Nanyang XD 6gures which were very Section 47 of the Merchant mixing and constituted about the Goverment predictions
A. Rubber only 1801:
patch
the another bright Art,
workers million Shipping
lose their certain to respect of the British steam generally dim economic picture. virtually
Commerce Department stolis-jobs in December and Janury. ship HAPPY SUNSHINE of
main-pushing uncraployment over ilve tics showed consumers HONG
KONG REGISTRY
tained their November buying million jobless by February. Offeint Number 108031 Gross at October levels-$18,000 mil-
UNEMPLOYED This
the econd tonnage 7174.44 tons Register on. tonnage 4313.77 tons, hereto-highest level reached this year, exceeded only by April's $18,900 fore owned by The Sunshine million. The November volume 4,031,000 Shipping Company, Limited, was four per cent above Novem 4. North Point Terrace, 2nd ber 1959 when the steel strike Floor, Hongkong, for permis- both purchasers' money and
the variety of ponds,
was
sion to change her naine tof Weather this year MARINE DISCOVERER and tricks
200 0 2144
400 72 1.525 1.95 1000 1,03
The mid-November total of
unemployed was post-war record for the month. It was predicted to go up to 4.2 Construction 10.10 million at mid-December, then
5.3 million
and in January
in played possibly higher than that in more February with business
before returning 10 to have her registered in the ways than one. The Christmas the five-million level in March, shopping was slow to start be-
ul cause
unreasonably weram
new
ut the Port of
A
Any objection to the pro-shops,
posed change of name must
be sent to the REGISTRAR OF SHIPPING at HONG
CAR SALES
The trend in the labour mar-
Steel
sixth
th
an
...
2477
Underwriter lik Int'l Inv... 10.30
Humphrey 25.30 Ator Ferry. L... Craw Enter.
Vibra
88728
42
25.40
Cald. Maeg.
(ON).... 37
50000+15
2000 1.95
500 15.00
200 €18.00
500 & 10.10
40 15.10
2100 te 15.20
Exchange rates
HONG KONG da owned by weather. Fetailers had said ket was paralleled by develop The Ace Shipping Co., Ltd., what they needed was snow toments in manufacturing, 4. North Point Terrace, 2nd remind consumers that Christ-production fell but in October November pro- mas was near. Now they have and November, Floor, Hongkong.
been reminded by the storm-duction totaled 6,107,000 lans, cleven- but they could not get to the contributing
month total ao for this year of
Tisine was done to the local 93,430,820 tons. This was the unofficial exchange market ili
highest annual rate on morning at the following rates: record and almost 15 per cent
U.S. dollar (per $1) Car sales fared better. The above last year, when the recent Sterling notes (per Eli
Australian notes (per eli KONG within SEVEN days worm spell actually helped. strike strangled output down to
Indonesian Rupiah (per 100) .. Slam teala (per 100) Before the storm hit, carmakers a trickle.
boastfully they reported
Singapore (Straila) But it was obvious that Decem- in the midst of a true boam,
sales totaling ber will not be able to make the with November more than $50,000 new cars, ex-year's
total even 100 million alone the now ridi- ceeding even the record Novem-tons, let ber of 1955 when just over culous forecast at the start of 530,000 cars were cold. How this year ever, now car salesmen,
from the appearance of this ndvertisement,
Datod at HONG KONG the 19th day of December, 1960,
THE ACE SHIPPING COMPANY LIMITED
SUI-LOONG PAO,
were
most 130 million.
between 125 and
America's steel
of them trading in open lots, making capacity this year is were even worse hit than the known to be 148,000,000 tons.--
Director, rest of the retail business.
JUPI.
Agreed merchant
rates
6.70 15,83 12.02
stock market on the plus side this past week.
Prices had drifted within a narrow, range. In the Brst four Con- sessions as dark clouds tinued to hang over the econo-
mie scene. But as & technical advance on Friday Bried the Dow-Jones Industrial average past the recent recovery high of 014, buying picked up in the nearly afternoon dealings and doubled the morning gains.
Whether this advance will be extended remains to be seen,
but most of the Wall Street
experts see tax selling con- tinuing to bear heavily on those groups
UTC which
near the year's low.
At the same time, however, they look for relavest- ment of this cash to help the current popular favourites.
Overall, these experts say the usual year-end seems the best that can be hoped for. Cyellesl securities are unlikely to par tolpate in such amily, but one broker sold continued good action con bo expected from omusement issues, convenienco
discount chains, la- foods, *mnes firms, electric utilitics, finance companies, savings and leans, great packers, all refiners, gas transmission companies, publishers and rar kaging frans.
London
eases
at
close
field of refrigeration
Stockholm, Dec. 18.
The Swedish Socioty of Refrigerating
Engineers.
(Svenska Kyltekniska
Foreningen), recently hold a meeting
in the
Stockholm
factory of
flold
AB
of
Electrolux, which is one of the lead-
in the ing companies domestic rofrigeration,
The subject of the meeting. was thermo-electric cooling. In recent years this principis of generating cold has been st tracting increasing Interest In Industrial circles and many of the big companies In the re-. frigeration business in Europe as well as in the U.S. are now carrying out considerable search work in this field.
re-
New type camera
rangefinder
A new type of storeoscopic camera rangefinder called the 3-D-3 which simplifies and increases accuracy in focusing has been develop- od by Mr Norinan Barton, a scientist at the U.K. Fighting Vehiclos Research and Development Estab-
existing
Discoveries made in the begin- ning of the 19th century have now been put to use thanks to the availability today or well- equipped and modern inborg-
The terles.
fest thermo- electric discovery was made in 1821 by the German physicist Seebeck, who believed that he London, Doc. 18.
could thereby explain the ever-
lishment. with gence of terrestrial magnetian. Disappointment
Britain's external trada
IL In the year 1834 the French
overcomes disadvantages November for figures
in watchmaker Feltier found an
types present and a deteriorating other thermo-electric effect. which generally use a system balance of payments This, however, was the reversal of bringing two superimposed with one of them images into register revorted situation
a of Soobeck's. Nono
the future paal-another. It is claimed
that it bilities of their discoveries, The will mean botler photographis promiting three-day ral- then realised domestic ly this past
the advances made today are based for
professional and no the produced the lowest on the functioning principle of more "fuzzy1 snaps for fovol
for the Peltier effect. If an electric amateur. of business
current passes through two bars two years on Friday.
The new or different, suitably combined
rangefinder shows three distances In 3-D in a The Financial Times industrial jalloys, soldered together at both
manner The photo- above the 300 ends, cold will be generaled at realistic
it index was just
through looking mark level, gaining 7.2 points on one joint and beat at the other.grapher their the week and ending at 000.0. It is only during the Irst few sees three indicating, marks at the real advances different distances from him in hopes for a new upward push The year's low. set in the pre- years that
The have been made, when it be space. The central, or focusing week, was 200.4. on the large short interest, and vlous
came possible to produce special point, looks like a spot invisibly with two alloys of tellurium and bismuth, supported in space
Hluminated rings, one beyond
SHORT INTEREST
Some traders
base
the persistent daily excesses of | high point was 342.9, eid lot short sales over odd
tot purchases, which are con- sidered evidenco
Scm's brokers attributed come of the Friday buying
weck
and
Leading stocks gained Cour-that give relatively very high
it and one in front of it. The
Indicates
range, and neat circles the depth of
centre spot
DOMESTIC TYPE
and the far
the limits of #lold.
The results achieved so far in-
of a strong laulds was up 1 shilling 3 pence cooling effects.
to 43/3., Imperial Tobacco paln- internal market condition.
cd 1/0 to 63/-. · And Bowater scored 2/- to 61/9. Fords, Dun- and Imperial Chemical to the lops
British Industries all armed. Bell System announcement
Unilever ended unchanged with 'dicate that in a not too distant Among the advantages of the 32,500 would spend that it
future there
for 3-D-3 are that it makes focus- Is hope million in 1981 on service im-Rolls Royce and Vickers.
economically justified manu-ing on moving subjects Instan- MOVE UP ad Provencals
expansion.
facture of domestic refrigerators taneous and simple. It is view A. T. & T President Frederick
"mos! Steels moved up on dividend operating on this principle. The ed with both eyes and can be termed it the
thermoelectric elements, how-used easily by people wearing Kappel
announcements and November's
AR the focusing tangible evidenco we can offer
by a are luminated of our confidence in the essen-record-breaking output Stores ever, that can be produced at spectacles."
battery, lite range- tial soundness at the economy." regained some buoyancy. Shipthe moment are not yet efficient Images
pings broke into higher ground enough for domestic refrigera- mánlature
tors in the proper sense but Ander is also effective in poor. on improved freight rates.
conditions. It can be made in a variety of sizes to t anything from a 35 mm camera used for The speakers were: Mr H. to the larger types Uilstrand, Chief Engineer, and press or industrial photography. the Professors Mr M. Backstrom. It is also suitable for Atting to Mr P Bergall and Mr O. Beck-cine cameras and will be par- These gentlemen are all ticularly useful in ensuring ac- connected with the Electrolux curate focusing during "track-
The more bullish brokers were encouraged by the fact that the 1,274 issues traded in Friday's rising market were the most since December 15, 1959 when 1.229 stocks were traded.
the
מנות
for
Oils locked features stier los-will find use for certain special Night in a mid-week improvement, purposes.
Gilt-edged incked features and stayid quiet. War Loan 31⁄2 last 4th to close at per cents £59 9/18.
Greek, German and Chinese bonds went up over the week,
Dollar siocks made a mixed showing but the plus siens held Group, whch has been working ng shots. hand, U. S. Steel on the development of thermo- upper
cold generation
The 3-D-3 Rangefinder the gaining 4 points and Bethle electric
several years. . -
subject of a Patent Application. hem 1 points but General
and commercial exploitation of Motors shaded pol.
A small box cooler with an the invention is being liandled Golds were lower in internal volume of about 07 by the National Research De neglected market.
cu.ft. was demonstrated at the velopment Corporation.—LPS. De Beers rose
than meeting.
A limited number of 4/- on expectations of good an- such boxes have boon made st nual diamond sales and reported the Electrolux Central Labora- U.S. buying of the stock. Cop-tory in collaboration with pers moved narrowly but ended large British firms Cleneral Elec-
high ground while
intric Company Limited. The box staged an advance.
Sales this past week slipped 130 slightly to 17,840,485 shares, or 20.10
daily average of 3,568,297 shares, сг shares, from 18,314,705
the 3,663,057 shares per day week before.
American Motors, which an- nounced a. trial "profit-sharing" programme of rebates to buyers of, Rambler cars, was the most active stoeit on the week with
shares sales of 266,700
West German Deutschemarks Maximum Selling 72-9/10.
Commencing Soon...
LUFTHANSA
Win
GERMAN AIRLINES
BOEING 707 INTERCONTINENTALS
direct from
HONGKONG to JAPAN and EUROPE
For Reservations som your „Travel Agent
JEBSEN & CO.
It
closed at $174. off 1% points on the week and hitting a new low for the year,
was
Standard Oli (New Jersey) Tunner-up with sales of 233,800 shares, followed by Sperry Rand, Universal O Products and General Motors,
on
more
Rubbers and teas were quiet with little change, UPI.
Bank of England
statement
the
cooler is primarily intended for plenics and corping, for use i in care and on bonts. It is suit- ably powered directly by the car battery and the watinge·ls only_28-35 /WN. If the amblent temperature is my 77" F. the box temperature can be main. |tained at about 35 to 38° F. The actual, cold generator is made
of about up
one hundred London, Dec. 18, thermoelectric elements plecod The Bank of England siato- together Into one thin block, ment for the week ended Dec. hardly larger trasy a match- up 1.20; nod 05 stocks 204.50 up14, reads as follow:
box. This cooling unit is very 1.05-UPI.
space, is Publia. Deposits. 35,371ght required. Uitte Private Depecurities
2004 200 sturdy and, Independent of che- 329,030,382 mical refrigerants, has no mov-
40,778.317 48.002.00
The Dow Jones averages at the clase on Friday showed 80 in- dustrials at B17.78 up 0.88 points from the previous week; 20 rails 127,80 up 0.09; 15 ullilles 88.22
Groundnuts
Bombay, Dec. 18. The Bombay Oilseeds and Oll Exchange today axed a celling
220 rupees per. 250 kilo grammes for hodge' taalag
of
groundnuts for the current sea-1
Notes in circulation..
Goverment
Olber securities Receipts
Itatio...
£2,593,174,875
ng parts, and operates without any noise. Its life is consklored -UPI to be practically uniknsited.
Steel prediction
New York, Dec. 38. "Iron
Ago" predicts January 1081 storl
that
Flour milling plant
Work valued at nearly 2 million dollars in con- nection with the rebuild- ing of flour milling plant at Port Colboro, Ontario, has been ent- trusted to . UK firm
of Honry Simon Ltd., Stockport, Cheshire, by.. the Maple Leaf Milling Company Limited, Candda.
The
previous plant
Wag
It only natural that AB Electrolux should be particular destroyed in a disastrous fro.
y Interested in developing this
type of cooling unit;- this "com. The now plant will have a pany has previously with great capacity of approximately /7,000 success pioneered another type bags in 24 hours and will em- production of cooling unit without moving ploy all the latest developments Bon expiring, at the end of may show the first increase parts and with boldless opera- in the inchiatry, making it the August, 1981.
since last June, steel, makers onthe Platen-Munters ab- most. modern mil : in Canada. Henry Simon will be responsible SA for the milling, dásign - and for
nuts.
►
baing encouraged by a better sorption unit, The Exchange also imposed a order volume for the coming To this day Electrolum hát | the mapply, and installation of delling of 44 rupees per döckilo-year. However, the magazine
confict be produced and sold over 4,000,000 the machinery, Final plans will grammaen on transferable specific cautions that this delivery contracts, in grounds considered symptomatic of afrigerators fitted with cooling include rye and our mulling units of the absorption type facilities and - the mire project major - recovery---China fall
the US the Platen- will cost over 6 million dollars. Special.
Munters unit is found in an Henry Simon will therefore, ba other 4,000,000 refrigerators. | responsibio for almost half the The future will prove wheiber contract value. the new electronic Peltier cool" fog unit will be, as muccessful in $1,01 | CUJUBO of- tirian Platen $1,12 – Mutiters' "unit".
Unit trust
An'endinsigo spokesman : sald thart - these toasures: had been takamaka ponkaltaildet, with the Forward Markels, Comunistion in order to prest, the Upward Fire Hongkong Fund: moyement of groundin, prices.! Buyer Price; -22%
Design and construction of the building will be, in the hands. Canadian compa