1954-01-18 — Page 9

MALA DE CHINA MAIL, MONDAY, JANUARY 18; 1954:

This is one of Britain's three new Jetliners the Avro Atlantic which, it is hoped, will be flying by 1956 and with the Handley-Page jetliner and the Vickers 1,000 and possibly a "super-super" Comet IV will be the British answer to the American Boeing Jetliner, also expected to make its first flight in 1956. A Round-up of the Latest Overseas News About Aircraft

BRITAIN HAS THREE NEW JETLINERS

AFTER THE COMET III

(From Our Own Correspondent}

London, Jan. 17.

British aircraft companies have planned three new high- speed jet airliners to follow the Comet series 111 when it comes into service in 1956. All three aircraft will fly at near sonic- speed and will carry from 75 to 150 passengers.

Vickers announced the laying of the keel of the Vickers 1,000 jetliner last week. This giant, built around Rolls Royce Conway engines, will be 146 feet long, 38 ft 6 inches high and have a wing span of 140 feet. Two other big British aircraft manufacturers-Avro and Handley- Page-have also developed plans for trans-Atlantic jetliners which will be flying at speeds of just under Mach 1.

In 15

The Avro Atlantic, it is in- After that? One aviator, Cap of 21 tons of kerosene tended, will cruise at 600 miles tain A.M. Majendle, one of minutes.

This high rate of fuel intake an hour at over 40,000 feet and B.O.A.C.'s ploneer Comet pilots

New

possible by RT- complete the London to

answered this question recent-has brin made

who ranging the aircraft's system so York run in about five to sevenly: "There may be some

to that the hose from the tanker hours. It will carry 70 to 131 are suffelently in a hurry

submit runs to a single intake point in Ket froni passengers.

to A to B

to rocket-assisted the aircraft from which a sym- the It is busOČ

Avro themselves

pipeline carries Vulcan deha-wing bomber now light through the sonic barriormetlent

equal quantity of fuel to all the In the 1,000 m.p.h, class." in super-priority production for

tanks in the aircraft, wherever the Royal Air Force.

they are positioned.

[1]

the

Handley-Page have also de- signed a modern jetliner from their crescent winged Victor bomber also in super-priority

RAF.

This production for

aircraft will be able to Juxury

150

from carry

passengers London to New York in 0% hours. It is to have two storeys and spacious lounges, a bar, follet

and

changing rooms. De Havillands, not to be "left behind" with the Comet III, are reported to be considering a "super-super" Comet IV to fol- low the Super Comet when it romes into operational In 1950.

British At present.

aircraft manufacturers believe there will be little improvement on the Jetliners already in service and those in the planning stage for about 20 years, and that 1960 should

Jetliners which should hold their place in air- croft design for

years.

service

another

*

HIGH-SPEED REFUELLING: A

type now

o! pressure rofuelling system is being fitted to the latest British fighters to be which will enable them refuelled in about a quarter of the time now taken.

A}}} A fighter will land, with fuel, unct off again something like five minutes. will be possible to pump fuel into Munter or Swift at two hun- dred gallons a minute, us com-

in

pored with only Afty or sixty

an

Specially-designed valves and flout switches cut off the flow of fuel automatically when the tanks are full, or when they reach

a pre-determined level.

Pressure- refuelling therefore does away with the need

Kirves

for

up ground crews to climb about the aircraft Inserting a hose nozzle or using a dip-stick to see how full the

lanks ore, The equipment in there latest aircraft for pressure re-fuelling

dual purpose. gallons a minute in the Meteer. enables them to be refuelekt

Thus time

spent

the the air as well as on the

ground. ground will be reduced to

This is possible because the fuel miniman and combat

squad- system

required for refuelling rons will fly a much

under pressure on the ground is number of sortics.

as that needed for Pressure-refuelling

on

greater

also

the

Fame

in

66

TRADE and COMMERCE SECTION

COMMONWEALTH FINANCE MINISTERS' CONFERENCE

A Turning Point In Post-War

UK Shares At

Highest

Fortunes Of

NEW YORK

STOCK

Level Since The Sterling Area" MARKET

Oct., 1951

Our Own Correspondent SALVATION TO BE SOUGHT

London, Jan. 17.

A mood of quiet con- fidence has settled over the London Stock Exchange. Except in more speculative market price movements have not been spectacular but the general trend is de- finitely upward.

IN TRADE EXPANSION

(From Our Own Correspondent)

London, Jan. 17.

The Sydney Commonwealth Finance Ministers' Conference will not go down in history as the turning point in the post-war fortunes of the sterling area. Its outcome will disappoint more and household goods. Stores, people than it pleases. But it has not been a waste of time.

Attention now appears to have turned to those companies which either make or sell consumer

shoes, textiles and radio shares have all been in demand.

Much of last week's activity-- the highest for almost three years--was attributed to genuine Investment demand and this was

Financial Times

It has clarified certain problems and indicated the way, though somewhat vaguely, to their solution. It has demonstrated, too, the need for Commonwealth countries to act together in their own interest. And this is something that cannot be stressed too often.

As expected, no startling new policies have emerged; but the pre- reflected in the rise of 1.8 in the scription is not "The mixture as before." The ingredients may be the same

but they are to be put together rather differently."

index of in- dustrial ordinary share prices. The index is now at its highest level since October 1931.

The markets began the new account on a strong note of con- cience after their carlier caution engendered by the Electricians “guerilla” strikes.

The strength of the industrial market seems to be firmly based, One reason for the recent rise of prices has been the expectation of higher company prolis after tax and therefore higher dividends now that the excess prolis levy has been scrapped, ADVANCED SHARPLY

#

There

100,

growing shortage of stock due largely to the fact that tower commodity prices have reduced industry's need for more finance? There have thus been fewer now issues to absorb the stcody Bow of: capital seeking investment.

.Government securities re- mained firm throughout the week and then advanced sharply on Friday when the Commonwealth Finance

Ministers issued their CHILI(quo.

Gold shares were another strong feature Just before the weekend. News of a rich strike by Western Holdings started a boom in the kallir market which led to gains of up to 10/-. The Fmuncial Times Gold Mines index jumped more than six points and is now at its highest

being led to bombers and night whaling for quickly level since April 1951.

other large aircraft. An illustra tion of the quick turn-round possible is that the Comet jet 10 airliner, which 1s pressure- refuelled, can take on its load

Ceremonial Opening Of 1954 Assizes

(Continued from Page 1)

Ordin-

Court

and

(Amendment)

New converting standard aircraft into flying tankers ore ulso being developed so that It will be possible in future for squadrons To be turned over very rapidly for long-range. flight-refuelled operations if necessary.

The

conversion, to cost million, is expected to be

£21 com-

NEW LONDON AIRPORT: London Heathrow airport, which once consisted of three RAF runways and a collection of makeshift huta, is being trans- At the beginning of this brief re- formed into the most up-to-dafe view, ita fiting that we should re-akport in the world. member those who have died during the your under review, Sir Henry Pollock will probably not incimbered by many present since it pleted in three years. The air- is stany years since he left Hon port will then handle more than kong in retirement. Mr Justice Wood else red fanit ago but he 200,000 aircraft a year-more 1203 loft full mark on our Law Re- than twice the number handled ports. Dr Tro

of our elder polleton, dled ehortly

at present by Heathrow after vie opening of the Azizce Tast year, London's other main airport, while Mr Lodge, Junior member Northoll. of one of our leading frust, was Jilled in an unfortunate accident in Sarawak.

one

and

con-

commodity

Oxen Drive

One hoped that Finance, the exclusion of efforts in other Ministers would have taken this markets. Today, Ministers say opportunity to state their policy it is just as important that we in the should earn a substantial surplus sterling for defending event of a recession in the U.S. In other non-sterling currencies, But though they discussed this question at length no mention is

Away Snakes made in their communique of

Kinkelbos, Bouth Africa, Jan. 17.

A Kinkelbos farmer Es using his oxen to protect farmstead against

д

high

his snakes.

The snaken

menace as

EFASH which havO the farmyards.

So the farmer, after a paff adder had been killed near his kitchen, decided to drive his span of oxen into the farmyard cach night.

had become they tle In and Woods spring up in

They have cropped 'the grass, and weeds short, and the Brakes. their cover Font, have retreated, ht sald--China Mall Special.

HONGKONG SHARE MARKET

(From Our Correspondent)

Business done on the Exchange amounted to

the

NOT IMPOSSIBLE

This will be a difficult but not it they decided to steps,

any, take to ensure that temporary now better than

Impossible task. Conditions are at any time economic fluctuations are not pormitted to interfere with pro- gress towards long-term objec-expansion of trade. fives."

oi

since the end of the war for such

New York, Jan. 17. Hope that double taxa. dividends would

tion

of

case sent the stock market up to a new high since May 26 in the general average during the past week.

It was the best weekly gain since October 16 and it was ad. rising complished on steadily volume. Sales in the Anal Dession of the week totalled 2,180,000 shares, the highest since Dec. 31.

Average daily trading totailed 1,517,920 shares against 1,410,558 shares daily in the

weelt.

taxation of dividends has been a sore point for many years. The coporations Pay taxes on their cornings and stockholders' pay taxes on the dividends they receive. Under

House

dnd Ways

Means Commitice

this provision

cut double taxation would be somewhat.

All sections of the market Joined the rise with the widest gains in the oils, and railroad issues. Individual shares in the stocis, electrical equipments, meters and building group also made big gains.

Prices declined on Monday to new lows of the year. It was the fourth decline in a row, and

some observers said the list has been oversold.

A slow rise set in on Tuesday. the It accelerated from then on to 2,000,000-share Friday ression.

the

The Industrial average closed week at 280.72 up 6.21 Commonwealth countries have consistently followed sound in points on the week and a new These objectives remain, as ternal policies aimed at redus- high since March 27; railroad, hitherto, the achievement

United States 98.08 up 2.94 and a new high a system of freer trade and costs; the

Government has expressed its since Dec. 4; utilities 53,54, up payments in which convertibility determination to keep

the 0.99 and..a. new high since and March 25, and 05 stocks, 108.78 American economy "strong and

of sterling is an essentiat part.

But convertibility as each is now growing"; and Europe's steadily up 2.34 and a new high since pushed into the background.

substantial

A total of 1,408 Issues ap- peared on the tape. Of this 999 advanced while delines and 170 h นา

were 94 new and 27 1953-54

expanding production has con- May 26. The Commonwealth "plan"tributed to

reserves the increase in monetary for sterling which was central

the theme of

com-outside the dollar area, Finance number,

therefore sce "solld 237 munique issued by the Prime Ministers Ministers

thek Lon grounds for conadence" in the changed. There after conference

for world 1953-54 highs har long-term don

in 1852

Jows.-United Press. trade. A radicai change. undergone Emphasis is no longer

for active Americin operation in support of sterling convertibility-though this, course, will still be needed be

-

The

on the

approach

of

outlook

They realise, however, that dull advantage cannot be taken of the present favourable con- ditions unless the Common-

fure the plan can be translated wealth's vast natural human and Industrial `resources are brought into action.

into greater productive use. The now apparently to be made on a need for development of these

front. broader

The Finance Ministers thus Lerest

effrm their in-resources is therefore "urgent

*** and vul." studies on In OEEC convertibility and "how transl- Progress that has already been tion can be best offocied from the made in this direction is much EPU to a wider system of trade greater and payments."

ת

"Canada Cannot

Overlook

Asian Markets"

and

and

Montreal, Jan. 17. than is generally In the foreign bond market,

Superintendent of the Bank of realised. But much remains to German stocks rose by as much

be done. The main problem is Montreal's foreign department, Meanwhile Commonwealth

Mr Edward R. Ernst, sald today as £1 following the coinmence-

longer one of supplying ment of dealing in German

countries are to increase their no

ho Was convinced that most of bonds issued on Wall Street,

Stock efforts

capital equipment needs for to strengthen the

The

the

he limiting

countries development.

visited in Asin $549,- coonomy of the sterling area in factor is now finance.

"are suffering from an overdose The lea market was again 327.80 Noon quotations and preparation for the day when

DI nationalism generated by strong on higher

They the pound is set free.

The major part of this must their new-fcunded liberty," prices,

technical have agreed that the only way Inevitably come from the United "abeenco, to do this is by increasing their Kingdom. Last your the UK management skill caused by surplus with the outside worit. Goverment

switches authorised loans rapid

In political There is no suggestion of with and grants totalling £120 million leadership when the countries drawal behind an economic "Irun for development in the sterling became independent... curtain."

Commonwealth. Now it promises

Ernst was addressing a gathering Turther concessions,

of the Canading Exporter Association. He has

returned recently

from K 33,000-mile tour of every Astan Hitherto the UK Government | natika importsæt to Canadian has granted permission for loans track.

in to be raised

the London

Me Ernst sail that Canada: "as

The week saw 185ociated Electrical Industries, Courtaulds, Dunlops, Ford Motors and Imporini Tobacco all up 1 shilling, Imperial Chemical up ninepener and many others up sixpence or more.

Woolworths announced only a modest rize

Its In

dividend after the close of the markel and the

first transaction recorded betwzen brokers' offlers-saw a fall of four shillings but the next 6 minutes of dealings saw the Jos com- pletely wiped out.

British government issues had a steady week with gaing› ràng- ing from 1/18 to 3/10. Among olls Royal Dutch and Shell jost ground on disappointment with their dividends. Anglo-Iranian improved moderately.

which amplified tho ance, existing provisions relating to Jurisdiction in lunacy; the Workmen's Compensation. Or- dinance, which provides for the of compensation to payment workmen who are injured in the course of their employment; and last, but not least, the Ad

The Ministry began the ministration of Justice (Mis-

version in 1946 and already the cellaneous Provisions) Ordin- ance, whereby the law touching record our

I am sure it is your with that we airport has in service six main

sympathies with The

runways capable of taking the certain Prerogative Writs hos

relatives.

biggest commercial aircraft in been assimilated to that which

I am gratified. Mr Attorney, by the world out. They are fald has prevailed in England since

your remarks on my recovery..of 1938. There is, I think, a good bowth and my return to the Beach out in the shape of the Star of deal of loo-way to be made up I hope the former is true but the David.

the new buildings Canadian Newsprint Among in the matter of Law Reform, labor, my return to the Bench, dees

not yet permit of full time work. although my Department

modern heavy legislative pro-

of David" is a has a

Indeed it may be sold that I am sing up in the centre of the in the grip of medical technicalities central block which will have a gramme, I hope that it may be

propose to obey to the possible to include a few items I have found it demarkable shopping centre, airline offices, of Lawyers Law's during how strongly a person clings to the crew headquarters and fight-

which him and, 1954.

Customs and while this is an entirely personal briefing matter, must expres my grautude weather bxccasting stations. Finally, I wish to thank the to those Doctors who have brought In the main passenger ter- members of both branches of me through my illness and in the minal will be a medical centre, the profession, for the reatly who made my stay in hospital so

The Industry rated capacity permanently staffed by doctors, plaksoni. assistance they have given

Again, Mc Attorney, 1 lot with tirred restaurants, including one for 1954 was fixed at 5,919,017 when they have been consulted

which floor

will

tons, an increase of 197,277 tons in your welcome to My Junties with about proposed legislation. dreet wo have laxown him for serve three-course a la carte over last year, feel sure that the relations bemeram, in feet me wre, which meals, and numerous anack bar Shipments in 1853 totalled tween all

those

variously the Ben on the same date,

reminds me that when many years

There will also be hairdre

1 | 6,732,884 ton", of which '4,801, engaged in the

administration my brother dekk produking ing saloons, a newsreel clnenia, 312 tons went to the United of Justice are upon a sound and

the

cffice, Dorian foot. And in hope, called and of the many cople, a lounges, and a children plays Cortadles constenons Are the they may always so continue. sorra able to recognan us. (laughter), ground and Indoor nursaty under, mated: 80.0 per cent of the

CJ'S ADDRESS

Me

Juniicetibuld ・・ poda; ME

#ddram

which

WORK REVIEWED

then

to

the

dance

Montreal, Jari, 17. Canadlari

mills newsprint produced 478,325 tons during December, bringing 1953 out- put to 8,721,290. tons, a frac- tional increase over 1982, the Newsprint Association of Canada reported today.

"

tous to

hostbition of children's 'I supply, caine, from Canada, a

US

Other shipments during 19581 Finally, there will be colourful | Central America and the Carib

18.007 tope British Isles). The gardens sheltered from or carcits shear

you rom which friends will be able Criest, 38432% Aurali

JER will home give a briet_emelárie,ot the work of the Course during the roof garder Attorney the in which test year, and a writer and rely Tiiu be appreciated that there

my lord, the Chilet Sumter would be apisan."

· Barne atves, hád be not

pored today. It gone withotri maying

ferrefence male and

Line dok sam od Anders Lane Felte le point as the compariant of 27490 gardens bestald out good, gwylahte (The Chill health. The ̈(Contd. on:back page, Col.Ɛ1) with rockering the Touri miris, Miglie: East, IlUnited

B 1030

the morning'a transactions: SHANES BUYERS SELLERS SALES BANKS

HK Bank ... 1810 1830 312 171 East Asia

INSURANCES

Union

SHIPPING

Waterboat Asia Nay DOCKS, ETC.

K. Wharf Dock Provident Wheelock

RECURRING CRISES

On the contrary; ministers are only 1500 1.13 agreed that this "could

lead to chronic restrictions and recurring crises."

843 895

20.20

1.15

30

20.70 100 20.70 13.40 13.00

8.10 8.33 5000 4 84

3000 30

2000

8.15

300

000

$.15

0 1000 1000

8.05

8.90

100 70

200 g 75**

180 or 75%

1000. 1%

LAND, ETC.

HH Hotel ..... 0.80 JIK Land ... TOIS TOSH

19

Skal Land.. Hammphreys KETAK DEN 2205 2.0135 2000 3.07% UTILITIES;

..Trim

Star Ferry

C. Light (0) 14.00 14.00

018

whole.

WELCOME MOVE

HONGKONG TRADE

was

for Canada's wheat goods.

The salvatico of the sterling market only for specific projects. a great trading nation certainly area is therefore to be sought in In future, however, Common cannot afford to overlook present of trade not wealth governinents will be the future morlocks the Far the expansion 1.20 with any particular arca but allowed to borrow in London "in East." He noted that the area with the rest of the world as a support of general programmes had absorb od almost $200,000,000 of development." This move in Canadian Wade in the fert will be welcomed especially by three quarters of 1953. Ministers point with justifiablo) countries like Austraila and pride to the fact that in the year New Zealand

which hayo ending June 30, 1953 the sterling Meulty in relating their need He described the largo and area has a surplus of over £400 for finance to specie projects. expanding Japanese market (àn million in its transactions with

outlet for wheat, important outside, world the

compared But before granting permission

pulp and other products, with a

deficit of glmost £1,000 for loans to be raised in London 28 28 30 1000 x 28.10 million in the previous year. But the UK Government will still despite domestic problems. In

that country, Hongkong 1430 scund policies cannot be based wish to satisfy itself that mentioned as a fairly important 1003 of 14.20 on past achievements. They programme to be financed will

market 14.80

with the future help the sterling area's balanco 1000 8,11.70 must be framed.

not our though

Wood products and com of payments C. Light (N) 11 11.00-1000 11.70 | in mind

1000 db 11,5

He attributed necessarily with the dollar area sumer Eléctric

50 3015: 788

Short-term prospects for tho and that the country concerned Hongkong's renewed importance sterling area's balance of pays making adequate contribuasar Eastern trading

to the comeback of Japan and 200 47 5011⁄2 menta underline" the problem tion from its own resourcés.

the 20.30 20.00 700 6 that must now be

continued faced." Pricex

recovery Thess, conditiona are clearly Sisth-austern-Asia, 19.44 of many sterling commodities 19.50 101,1000

of daniculties In spite

for 1930 are lower them they were a year necessary. The amount of

Canadian manufacturers", on the time, im-nance available in London will At the

· 33.30 201%

grains, and pacts are slaing as restrictions be limited ambag other things Philippine market, amaro relaxed, as a result, the by the United Kingdom's related products had had fair. Crawford 25,40

total sterling, area exports in the pressing need to develop its own success there, he said. He said But in Pakistan, would be important to resources. Textile Corp. 880 8.40 1500 9 2.28 | 12 months to mid-1984 are likely industrial

decking to be "250; million'

exporters. Jews than in

between rival claims of Canadian

tho poris, are likerwälzaile, total im- would-be borrowers at the previous year,

•uto: CostAR 180] and oversens, shadUK GJA THUN as her needs Increased;

said India was an in- milioni moresque The cofact of ment will not forget that portant outlet for wheat, base Exchange Rates this will be a drop of almost to money lent to other Common metals, newsprint and varied Ho per cent in the arnalais surplus with countries for develop list of Canadian articles..

ment

capent wald, Canadiani

would capital be well advised to chord serious),

Fat, the fundamen

Cement

Telephono INDUSTRIALS

Dairy STORES, ETC.

COTONE

Sense

40430

samo

protine

centre.