THE CHINA MAIL, MONDAY, OCTOBER 30, 1961.
Weekly survey of American economy
SCIENCE AND
PERIOD OF ADJUSTMENT ENGINEERING
New York cotton
review
New York, Oct. 29.
Un-
Cotton futures ruled alter
natoly steady and settled in quiet doslings throughout the week.
the A1 Friday's clie ruled seven points higher to 23 polnis lower, or up 35 cents to down $1.15 a bale trian the pazcoding week.
Posibilities for
the
K
1962-63 son
Hist
Business 'neither limping nor booming'
New York, Oct. 29.
The U.S. economy was described by experts
HONGKONG STOCK EXCHANGE
Wall Street
moves little lower
Britain conducts research on wood chipboard industry
by
F'Our Own Correspondent
last week as ʼnoither limping not boom-ent Steck
Business done on The Hong- Exchange this mining univunted 10 ap-
and the morning's
New York, Oct. 29.
ing," an in-between condition frequently proximately $1,740,000. Non For many investors this week the stock market encountered after several months of quotatious
į transactions. rapid unconsɔlidated recovery from a recession.
Short
Bank
Buyers Sellers
310 310
Most of the interest was
After the "doubling; products. in September, services restricted the nearby de- Thomases" were heard Inst week of all kinds-from beauty par- Lombard Hveries. Transactions posted to painting to the drop in industrial lours, hospitals, commuter tran-
to gub,
electricity, Allied Inv.
11K & FE the daferred months mostly production indices for Septem- portalion
Invest. routine switching ber as "proof" of their contention phones and the vast number af presented
that the recovery had run out repairmen who take care of the wharf Co. operations,
Wheelock of appliances — schnal of anther
growing urn
jold} change of steam.
price thought took the spotlight this argounted to 40 per cent of all callon government
consumer spending and were
(New) for the week. programme
at an annual rate of 11 Dock Win ♫ prime
elaius is quite running The one facter in restricting participa usual in a business upturn Tol-$140,000 millon
The time may not be far off lowing a recession for the rate tion in the later montha,
of rise to slow down after the when the proportion of spending Talkoo Nearby December contrnels,
These
for services versus goods will Ch. Prov. become a afty-atty proposition, HK & S. mid-week period of initial sharp
with the
Hotel former eventually cashes, regain stability on analysts point out that in the summer Industrial attributed spring and
gaining an edge. At the rate the tic Land buying septtered
upwards at a made hedge-lifting activity leaped partly t against sales of spot cotton, much faster rate than the rest credit card business is growing.
attributed of business activity. Hence the the car rentals, the "enjoy your Local P & P Also some covering
period of adjustment,
KMB mill accounts, following in- present
case within five years. There are work factory dications of a bronding inquiry apparently, was the sharp drop system, this could easily be the Tram
in the average
those who predict that leasing Yaumati for goods in the textik markel.
week in September to 39.3 hours
household equipment for a fee C. Lig from 40 hours in August.
Is the wave of the future.
after
21
'Heavyweight'
recovery.
Sales 20 348 B340
20 318 722
BL 5000 53.20
0.15
20.00 100 344 350
20
1240 1215 4500
12:20 1211
400
415
071%
20 25.90 vacation now and pay later" Realty
The factory work week is an
Steel advances on the demand of reliable business Indicator The emphasis
consistent record with a fairly
Meanwhile the U.S. industria) for heavyweight goods was in-
turns in mujer teresting from the standpoint of of predicting
tput picture firmed this week ection consumption, since these business activity several months with an estimated back-to-nor- mal 135,000 automobile assem- "eat up" raw in advance. goods literally
As in the ease of the industrial lies, a slight but broad advance The in cotton
manufacture,
productivity index announced in the steel market, an increase market experts said.
34.02 last week, the government blamin coul-mlaing to December dipped cents a pound, establishing thed the drop in the fuctory work shipments lowest point for that delivery week on the strike at Ceneral Lakes, Machine tool builders re- and on bad weather, ported new crders for melal then re- Motors slrco late last June,
Hurricane Carlo, cutting wols currently reached a bale from specifically
March covered 50 cents the low to close the week with However, the "doubting Thoma-the highest level since
ses" were skeptica).
a net rise of 10 cents a bale.
Other influences The subsequent recovery was coupled with a speed-up in the
They said post records show rate of producer impoundings
that short-lived strikes, such as under the government loan pre-the one at GM, even combined
week, ramine. For the past Riowers pu: 303,123 bales under with spells of bad weather, had
hinted 'They the oan canopy, boosting the failed to depress rising recovery niet loan stock of 1001-02 erup
difference,
that
1857.
and
irun-ore Beross the Great
cunt
2.213
500
121%
500 20
1100 Gala 1200
1400 Y GU
7508 450 235
19073
was summing up, a settlement of all the hopes and commitment made much for tax purposes and the annual phenomenon did its work well in keeping the list off balance and just a little lower than the week before.
Textiles weekly review
:
Those who put their dollars SD-called "glamour" the stocks many months ago wero given back a lot less for all their time and trouble and in the process only succeeded in driving their erstwhile favourl- tes to even lower depths. Some investora, of course, were at- teropting to ride out the storm anal participate in the next time-worn chapter an end-of- the-year rally.
The market background, how- ever, involved more than mere business re-
New York, Oct. 29. 4.275 1000 2.275 Cotton grey goods mellom re- tnx selling. The
अ 200 m 30
multiplying covery was running behind the ported number of moderate-sized expectations of many observers and third quarter earnings re- orders for a wider range of ports drew less than notices. fabrics this wook, in-
Indicated earnings of Jersey cluding lowns, broad-
off Standard
slightly, cloths, narrow bag sheet- General Motors reported a de-
of one per cent, cline Chrysler registered n: loss of $4,000,000 and a $26,500,000
214
110 100 115
1500 k 37
1500 + 372
11K Elec...
$7$5
30 35203734
HK Tel.
(Old)
429%
13
100 425
500
43 500 424
100 7143
ings, wide osnaburgs, and drills.
(New)
4014
10409%
IRts.)
HK Gas
Gilman
E
Farm
Menu Flee
100 401
16,30 16.70 270 14 1015
21 21.50 1950
were
and
A
London, Oct. 29.
long-term investigation of the problems of wood chipboard manufactura has been started by the Forest Products Research Laboratory of Britain's De- partment of Scientific and Industrial Research.
New crimper for processing fibres
now
It has been instigated at the request of the industry and, sty the CSIR, 11 may determine the design and operation of "this
industry's £10 million
plant len years hence.”
Although originally developed a means of utilising wood
otherwise be un- which would
natural Umber disadvantages of
London, Oct. 29.
the many Among
weble, chipboard hou proved in atome cants to be a more stable machines introducod the International Knitting material than the Acces One of Machinery and corics Exhibition being present wood-working methods wastage held at Manchester, nor about 40
per cent over the thom England, is a super- whole process). speed crimper for
cessing
synthetic
natural fibres.
in the high rate of
pro and
Basid partly on the waste- products of normal wood-work- chipboard Industry's ing the
While mast print cloths ruled defcil for the first nine month developed by a member firm of less-only about ten per cent.
1800 67 2116
3000 & 21,00
2000 2115
1000
500
21.00
21.00 yardages. Market
4.525
4.30 1000
4.30
2000 4.414
C000475
24
450 4
30001
G01 013
45 12 424
11.70 1220 3000 m 12
7.00
4
New car sales in the second | Jardines Cemont ten-day period of Oclober have
Dat reached the best levels of the year. Because new cars are still Textile
Капурля not available in numbers to meet
Amat. Rub.. Hub, Trust. kel is enjoying significant alt demand, the used car mat-
Chy Hotel
209 30 hoom with used car investors at patterns.
Humphrey 23.70 24.30 1200 cotton thus far to $70,001 bates!mething else must have exer- the lowest point in dve years.
Int'l lately, ay, Among the generally better cor-
Invest 12.40 12,60 2010 je 1249 elsed its influence
1K Mine ..
26000 hitporation earnings reports, Gen- Market technicians regoped consumers'
Lane, Crow, 387 that the rate of producer im- couldn't quite put their Angereral Motors was a rare excep-
Arla Nav... will be
tion. Its earnings dropped une : Meinl Ind. aon what it was, poundings hereafter
fuctor in
Another set of stallstles this per cent and its sales more than main deterraining
The
third over the shaping the price trend.
week seems to have confound-ten per cotton ultimately
doublers reasoning. quarter as a result of the Sep- amount of
rit the
strike which cost the for jtember obviously placed in the loan
The cost of Hving Index September-lhe critical period company some 180,000 unassem- will reduce the quantity avail-
bled inks. Able for the "free" market.
question went up one third of one per cent to a re- cord 128.8 per cent of the 1947-49 average base. Judging ance, this index certainly would not have risen, had there been any serious depressant on the economy. The more conservative the wing of economists would like Raw colton exparts for season through October 24, to put all blame do such a rise In living costs on infintion. Forin- reported by the New York Col- ton Exchange, totalled 1,233,11er President Eisenhower even unles against 074,284 bales re-used it in a speech this week time lasts a jumping board fer coining perled la
The spot cutton markets continued firm with the aver age price for middling Inch at the 14 markets holding at the season's high thus far off 33.00 rents a pound, and about 344 cents a pond more year ago,
season.
the same
than a
in
Comparison
An Interesting footnote to the
of catching tip With Moscow and Premier Kruschey's claim
Exchange rates
new
are
Narrow trading
the
sald
in
of
their
small-schic
indus
months
04
from of the glue bond between
and
UC
Named the C.S.D. It has been stage, on the other hand, is
one of Sera Group,
In Britain, its chief applica- bookings. quiet on immediate
Even Bethlehem Steel, which Britain's bikest knitting tions so far have been in the an increasing reported
building and furniture against old almost tripled its third quarter machinery manufacturers. call for shipments orders Involving tood-sized earnings of a year ago, said the In the past five years the com-tries. Its raw material, however, variety of improvement did not live up tupany has been building up the cumes from such a analysts reasoned expectations, and hinted broad-speeds
falee-twist sources that in order to guaran and speeds ice a condistently good product that if this development takes ly that no industry price boosterimping machines
and Par- hold, and additional companies is in the cards this year because have advanced from 30,000 rpm, the Wood Chipboard begin to ask for a speed-up on current operations will not sup-
to 80,000 r.p.m. Now they have icle Board Group of the British a machine Plastics Federation joining deliveries, It could be the first port it.
designed and built
Products Re- which 100 35ral signs of a "turn" to print
runs at 300,000 p.m., with the Forest cloths an Ane goods since late
which is claimed to be a signi-search Laboratory_in_an'exion- sive programme of basle résearch July.
ficant break through, Recent buying on a wide
Technically speaking, the st The machine enables produc- at the Laboratory. variety of fubrica has been in
continued to travel within its tion, in just 28 hours running.
This the 20,000 to 25,000 yard cate
follows preliminary, in- range of a six lb. package (or glant norrow 600-710 trading gory. In view of the strength in
on the Dow-Jones Industrial bobbin) of two-fold 70 denier vestigations in recent
plant in the hearyarn. On lower speed machines (on-a raw cotton prices, plus an im-
average, linding support the demand for provement in
that lower level again which it would take three days for a Laboratory. The new work deals wider range of 1nished fabrics,
ib. package to be with such aspects of the subject correspondents more or less to similar six
as the moisture relations of Key Koods brokers reasoned a
the lows seen inte inst month. produced. buying move for
clips and board; variables in the ad- Wednesday also witnessed
The standard C.S.9 machine pressing of beards; naturo and inventory replenishment was a
vances outnumbering declines built in sections ut 183 nearby possibility.
Producers remained confident for the first time in a week.
"Spinfote" spinners with analyst One leading that once converters, garment Foods
The 24-inch chances were even for a break spinners on each side mounted chips, and the effect of species. and
twin units. piece
from Apart
shavings makers
that below 890 which could bring on heaters are of a new design and buyers become convinced prices higher
ahead, a further fall of 20 points or se. for each there is a transistorised other waste from normal wood-
working processes, the manu be ex-Others felt that tax selling would
Controls temperature control, 13usinesd WAS done in the local the buying tempo can
facturing process uses fre 15 unit every
small diameter, such as forestry morulok at the
and seconda
information
converted thinnings. These are 6073 higher raw cotton prices, plus about the middle of next month US dollars (per $1)
transmitted to a new easy-to- Sterling notes (per £1)
Higher wages for mills workers when another rise in the short position is expected
into chip which are then dried. and other inflationary pressures, interest
sprayed with an adhesive, and The fun- weavers insisted they will Have and the beginning of an end-read indicator display.
money for fourth of-the-year rally would take A spokesman for the company pressed into board to get more
chip priparation, shape.
says the machines are easy to dementals of ax first half 1002 deliveries,
For the week, the Down-Jones operate and operatives require drying, screening, resin mixing Strong position
Yarn produced and mattress spreading will all Average of 30 Industrial stocks little training.
The C. S. 9 is used in be studied.-LFS Emphasising the strong statis-fell 0.85 points to 693.74, rails on
but of the 12cal position
mills were 2,06 lower at 148.08 and wide variety of clothing
particularly for underwear and statisticians pointed out that utilities dipped 0.62 to 120.52.
Standard & Poor's index of men's socks. The development 7.16 print cloth stocks on hand now 70,000,000 yards 0004 approximate
has made it possible 7.60 while unfilled orders are around cents. Indicating that the over- Instance, 1.34
208,000,000 yards, or about 3.83 all market performed somewhat for manufacturers to knit only. three sizes of socles to fit all enecuragement from nows of better than the blue chips.
Activity rose slightly to 18.- slzen of men's feet throughout improved rerorders for spring on 1,40
yurn-dyed cottons, with tighten- 190,050 shares from 16,801,700 a the world. Crimping gives yarn Test of week earlier and compared with clesiicity, bulk, and high absor- ing deliveries for the
garment 15,802,040 last year.-UPI,
bent quality.-LPS. Large this year. houses have slepped up their call for coloured yarn colon, with mills and con- the result that
orders unfilled have veriera
well into the Aret. sell-extending
quarter.
But the one over-hanging
acting lo uncertainly
011 the domestic optimisa picture in the producers' con- linuing Year of competition Some mills. from foreign American mill men instated f
marke!
from past perform- } Communist Party Congress in unelficial excullowing rates;
Australian notca (per &
Americs was provided this week by a survey of U.S. fòrming.
Japanese yen (per 100) ........ It showed that United States | Cambodia riel (per 100) 'agriculture outproduces the French new franc (per 1
Brazilian cruzeiro (per 100) Soviet Union by sixty per cent Argentine peso per 100 at na daóval rate despite the Korean hwnn (per 1600) fact that Russia has approx-Italian 1m (per 1000) mately seven persons working
farm for every one
Tolwan yuen (per 101
Chinese JMP (per 11
on the
Thai baht (per 100) a new political phrase. He said
American.
Burmese kyat (per 107 the U.S. dollars night very well
The survey, prepared by the Paximian rupee (per 10) ... The stock of certißeated cot-be known as "dollarettes National Industrial Conference Norwegian krane, (per 10)..
Atacao pataca (per 1 for, available for contruct unless the Kennedy Administra-
field Philippine peso (per delivery at the weekend totalled tion curbed its allegedly infa-Bourd, showed only one
where the U.S.S.R. bns n higher Singapore Straits per 86,300 bales, plus 611 balesionary spending.
Netherlana culler (per 1) awaiting
AH! For the pure economist, how-yield crop per acre: lint cotton. Swer Frank (per 11........ Inspection
comparisons per acre:west German D-Mark iper 19 niferumaire" test. The com ever, the thing of major interest Other bined total of 80,011 bales re-in the ilving costs index is the rye, 19.7 bushels (U.S.) and 12.7 Cuban peso per 1 per 1) presented a decrease of 939 bales ever-rising proportion of spend- bushela (USSI); barley 31 and
ing on services as Irom the previous week.-UPI.
against
ELECTRO MOTION LIMITED WORLD SUPPLIERS OF POWER PLANT OFFER, SUBJECT TO PRIOR SALE, HIGH-CLASS MACHINES AT A FRACTION OF ORIGINAL COST.
Examples from our existing stock:
DIESEL ENGINES
cals 43.3′ and 23.7; wheat 10,7; 20 and 11.4; potatoes 107.8′ hun- dredweight and 82.4 hundred- weight:
Apart from the fact that more capital is employed on a typical American farm as aggiust a Rus- |slän: form, American farmers have 4.8 million tractors as dgainst the Soviet Union's 1.1 million; and 1.1 millon grain combines to Russia's 500,000. U.S. farms use 20.9 billion-kilo-
monitor each tils pected to quicken. Faced with keep the market irregular until
$5.00
$285
1.00
15,00
1.13
1.00
5.30
4,00
1,00
0.45
26,50 6.00
Agreed merchant rates Swiss Francs maximum
ing 75-7/16.
UNIT TRUSTS
TWELVE BRAND NEW 30/34 HP RUSTON & HORNSBY watt hours of electricity a year (huyor) $1.20 (seller).
1.80
1.31 1.53
0.50
First Hongkong Fund: $1.12
Second Hongkong Fundi: 80
STATIONARY INDUSTRIAL DIESEL ENGINES, type 3VRO, to the Soviet Union's 8.4 billions (buyer) 00 cents (celler), ;
3-cylinder, radiator cooled, with water clrculating pump, fuel-UPI. tank, 1000/1200 rpm. Hand stort, Filted for power take-off, Ideal for Farms, Mines, Forestry, etc.
PRICE: £205 cach C.LF.
LIGHTING SETS:
ONE-HUNDRED - BRAND NEW 225 wal! FORTABLE LIGHT- WEIGHT "CHOREHORSE" PETROL DRIVEN ALTERNATING SETS, electric and rope tort, 230/1/50, AC, with control panel, giving reparate battery charging output. With complete set of tools and spares.
PRICE Đầu cách ClF.
watt VILLIERS/EDC PETROL DRIVEN THIRTY 312.5 PORTABLE ALTERNATING, SETS, comprising Villlers Mark 10, aingle cylinder, 4-stroke, 1.3 HP air cooled petrol engine, belt'; driving EDC alternator 230/1/50, AC,,3000 rpm power factor,
GOVT SECURITIES
TAKE
IN
LIMELIGHT LONDON
London, Oct. 29.
self exelling. On light bed plate. 12 amps. First-class condi] Government securitics stole all the honours in the
tion.
PRICE: £18 each C.LF.
FOURTEEN - 10 KVA LISTER/MAWDESLEY DIESEL ALTER- NATING SETS, 230/1/50, AC, with 27/30 HP, 3-cylinder, JP3 Later diesel engines, radiator cooled, direct coupled on base plate. With control panel. Excellent condillon. Fully recondi- Toned,
PRICE: £270 each CLP.
market last week. They surged upwards on foreign and British buying and with the big banks back in the investing picture.
All prices quoted include Packing, Insurance' and Shipping growing conviction
bunk Cost to your beatent Port.
Welle for photographs and stock liste containing machine again tools, mechanical fing equipment, diesel and petrol mobile compressors, electrfe motors, dieses mid petrol power plant ete
10m
ELECTRO MOTION LIMITED BABKBY ROAD, LEICESTER, ENGLAND.
Caller:
ELMOTION, LEICESTER, ENGLAND.
MDF
they could get raw color at anywhere near the priest which foreign producer obtain it, their superior productivity would allow them to compete successfully.
fol-
OnL commentator dalmed that some Japanese firms low apolley of selling just enough below American milis to get the business. One' ex porter complained he recently Just dat on an order for a comb- ed broadcloth construction in a The central Amerleau market, order, he sold, went 40 Jupatiese house that quoted lower on the finished goods than pro- Another duce the grey woods.
the American mill could
exporter lamented that ho re- cenfly lost out on an Indonealau
Inquiry for upwards of 70,000,-- 000 yards of a certain cloth to a An-Japancae neller.
In hned fibres, turtip côri-
Electifen1 Indairies
The bight on he outlook for Chanical, Courtnuld and industrials, safe and good yieldssociated rivin the glit-edged, and the were around anz shilling lower, tinted hem in line with Caleutia that the Unilever moved 3/- higher to and t scheelty of spot and norby gooda Biel and thep ngan be cut 104/3, Imperial Tobacco adited I ruto will
spurred) demond anding whlie Dunlop and Bri- prices were lowered in ari din
itch "Motor Corp were ille svetteaful alternpt to vivo, d' nina ma up to £14.
long-dlberriant buying interest changed
Dollar stucks made a mixed Boston who undies reported showing derves the five nesalons continuta quiet situlori) but and ended indinly lower,
extempori afeoling b Although Greek boude moved will vein to improve lit ad- Hoveral blue chiba tot out into lower ground on Friday, other few weeks, Topmaiders "over" that whelp Beitian Ameri-1er sted' intravenir i over expected the weaving business
The Financial Time industrial Index closed at 200,7, just two points above the year's low. The fiigt was 005/7,
can Tobacco gave this fiere' thathu W&cli. Some Sugisele bunds; to begin 10 move'ns a quicken- 3/- to 00/0, white Imperial added fractions-UPT
Ing pace by that time.-UPI.
500 stocks was down only 14 of the crimping technique, for £2 million computer
*
of the
Pieture, clown! Ben Judith Wrona, secretary Aftertensi Nochet Söciety, with two airanga, moott ́dovices what at the Booley's exhibition in New York's Collstomi.. THTM Ker Rand* {4: “Pbikls"--Mite other be "Dumbo", The ant- mechanlama-known' as “juriať rövers''--aro Belar mai-tje develjed i provido surface locomotier-for- the-exploratiwit! of the moon-Landon Express Photo..
for university
London, Oct. 29.
A now computer, claimed to be the most powerful in the world, is to be install- ed at London: University in 1963 ot a dus! of ap- proximitatoly £2 million.
will/
The makers claim it make possible' an acceleration in Britain's scienilfe "research and that it should make sfdcruble contribution to national effort during the few years."
con-
the
next
The machine a Fereunti Atlas the third to be ordered. The first production model is being a combled and caurumis- sioned at the University of Manchester, for use early exi year. A second, ordered by the National Institute for Research In Nucled?' Science; will be in Use at Harwell Atomic Research Contre in 1904.
British Petroleum Company is providing approximately
ᄆ
ituarier of the cost of Laindon University's computer and in return will have an agreed amount of time. on for a period of five years. They will use it for full-scale integration of their
programme.
refinery and supply
A Ferranti
...
Mark
Mercury Two computer which has been Used at the university Altice 1909 In now inadequate. Allan: Com- puter is expected to be not only nearly 100 times faster but it Sins a much greater capacity for Dļsu [Handling Kümbera and
fheilities for storing large quân- titlen of date on High-speed magnette tape unile Simple instructions can be performed at a apced: dpproaching, a szikk» lon a second LPS.
•