1954-05-11 — Page 9

Page

THE CHINA MAIL, TUESDAY, MAY 11, 1954.

TRADE and

COMMERCE SECTION

Whoosh

The Hawker Hunter speeds overhead al has just started squadron service with the R.A.F.

E

sonic speed.

The aircraft

The Latest Round-Up of Aviation News From Britain

This Paint STICKS To The Sides

Of High-Speed Fighters

stound up of aviation news from London tells you the loteresting story This week s that patet plays in the supersonic Jel aireraft af today. Now British Industry has developed 3. Based on a newly-developed resin, which will not peel off the plate's fuselage. Other demos hui this week's round-up tell you of the progress being made in the search for a sulutor to the mystery of the Comel crashes, and finally news about the R.A.F's new This cup will help con-

p

which is being installed at Us fra the cantral ventres.

Guilmas sce at glance. The position of aircraft in distreAN. This round-up, aut exclusive

Tuesday. every Chlora Mail frature, will int fisure be coming to

It rumes from Die London headquarters of the Society of British Aireraft Manufacturers whose statt welters. tell you in not-too-technical language the most important developments in British aviation each week.

A now high-pred pint; smoother paint, for the latest jet fighters drag

und Lombers which will not port off in dight

near the

speed of sound is being de

aheraft and

with shortly be used full-scale on one of the latest jet machines.

The paint

of

is based

resin

they cut down ver the wings and the

star.

5 the 1 F

sportul matterei.

4

No further flight tests

the . '.tes

of the

television map, shown on The and the controller knows that the aircraft's position as at the

of Intersection

bearings. the The controller CHOT see at

the aircraft 1. glance where

can then direct

Mr Butler Did Not Last Voyage America Wants Ceylon

Forget Britain's Shipping Industry

2

Financial

For An Old Veteran

Capetown. May 10. The ship the едер could

QoL sink Wit enter Capetown docka for the last linge towards the stil of May-the Union Castle veteran 12.044-ton Llangib- by Castle, naw Times

on her farewell VOYAKO round Action before being with- drawn from servlet.

This article, by Correspondent, tells how Mr Butler's now invest- ment allowance will help the British shipping in- dustry particularly those lines which now want to replace their present ships.

Some idea of the tremendous costs con- fronting British shipping lines planning replace- ments today can be gained from the statement of the Chaiman of the Union-Castle line who said the fleet cost £33 million to build and would cost £82 million to replace at current prices.

The allowance announced in last month's budget will also help the shipbuilders whose orders for new tonnage have declined sharply in recent months.

The new investment equipment to the tune of allowance," said Mr Butler, per cent of its capital cost (that is, to the extent of the Income- in delivering the budget last

tax and profits tax on the 20 month, "should also help the per cent allowance which the shipping industry to carry Inland Revenue now forgoes).

Anyone who buys a few ship out the big replacements

which which are necessary in the have to pay only £905,000 tor costs £im. will now years ahead."

H: the Exchequer will make up It comes

only just in time, the difference

remitting by The size of the UK. merchant £95,000 of tax to the purchaser,¦ slupping Beet in relation to the

WELCOME MOVE world feet has fallen from 13

This Innovation per vent, in 1905 to only abou.

will be very to the shipowner, 21 per vent tulay; and the de- welcome 1-12014-

have been making re- since 1939 in the dry-cargo who feet ha.. only been masked by presentations to the Chancellor The fact that the tanker tonnago for some me about the havoc aus by about a third,

Adore meediately pressing is

B

of the U.K, AL. The of the neccmpanying tables,

het Die UK

wreaked

In their

the girl system of depreciation

H

She had several narrow escapes during World War nurviving a bombing at- tack in part and being shelled from the North African coast. She

Rino involved in a collision during the periud of Ure Normandy fuvasion.

ffer

away

1ter closest call was when

shot A submarine her stern, rudder and alter

with gun lergiedu, She travelled 3.400 miles in the North Atlantic In this crippled siste with 1,400 service men and crew on board. China Mall Special.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Ex-

That's by

Bir in 1941 the Stock **** : change this morning amounted The industry's tax deprecia-

Norm 1 station

No 107 495, tion allowances in the lust year and the morning's dealbugs - -

Canparts for which there ure

figure:

the world Agures, totalled 6 per cent of assessed: suARES BUYERS SELLERS SALES

depressed by the profite--3 times the average

Bre

F

well with which tarifeenge

Ta bulld of the Junge U5.

new ship today times what but makes a per showing costs roughly four compared

will, say. Norway,

rust in 1939 and twice what after the it cost immediately nor of our principal rivals,

Aul these

war. intures 100

If you bought a ship with affected by the inclusion of new 20-year life in 1934 and have it over the been tankers are

depreciating baker tonnape; if ommitted.

pt rent of U.K. years on the basis of what i

will be a big gap tonnage under five years of age cost, there is reduced the 17 per cent. to make up before you can buy

The ingeing of the fleet is a a new one.

The threat rather than a fact us yet.

present In other words, the system is Lan nu matic, mu tarn.sed

Orders for new ships have to be deet, for example, Vere

placed two or three years ahead, | 233m, to build; the and it only ht the last couple has estimated that it would cost

have and

.11

the

ist; Blo

11

veloped by a British cum been made pet of the Comet appropriate airfield.

It has already been ¦ jet airliner. and it is unlikely i PRIY Tested on the tail of the latest Air Force operational be flown for a few weeks.

The mystery

Can a sloss of the technique, pioneeresi In which in- during the war, crashes is being probed al

heang wer Royal Alrera Establishment, R plotted

a map by WAAFS Farnborough (Hanta), and

using pieces of string. One end Slavilland the sh

Worka

of the airing was pained firmly Intel Herts)

on the map at the radio station. RAF test pilots attached to

or more The point where two John Farnborough

Мг and

pieces

string intersected chief test pllot; JAC Cunningham.

The position showed of de Havillands, are ready to

aircraft. take

Comel into the alr

All this of course took tine, whenever the "back-room boys"

and with the advent of the Jet want testing done.

aircraft, where even a minute But at present work is con

10 vital,

became centrated

the laboratories muy

fully- necessary to develop a and workshops.

fash newly-developerk which en diber it to withstaniel arvat temperatures and to stick

the fuselage

1

V

$1

newer fid

parat

witmaft

the

ן

despite (:1 whi

the a rushing ying at high

si eeds. There is a tendency for ext top mashes

wepic these conditions.

The skin

perd

<if

to

mjainture de dus

and

these high

krald to be roughly

Whole Airtrame

A lot deperals on the minute examination at Furninough of the wreekage

4.f The Comer which crashed off Elba January 10. All four engines

(11

کرد

ut

ان

TABLE 1

AGE OF THE WORLD'S MERCHANT FLEETS

ย

BANKS

JIK

፱Ìበተነ ነ Easi Asta

3. 1060

172

INSULANCE

Unto XD DOCKS. ER

K Whort Shat Dock

Wherlock

LAND, ETC.

1430

20 1741 740 159

100

300...

10 713

12.00

To End Trade Pact With Red China

Colombo, May 10.

The United States' suggestion that Ceylon terminate her rubber and rice trade pact with China in exchange for American aid is now being actively explored.

But sources pointed out that the United States cannot Ax the

ninimum price for Coy NEW YORK

Neither

rubber without upsetting her title wish other countries. she give Ceylon 151 tomat A Ceylon sells | strategie materials ป the

Cinee Communista.

STOCK

MARKET

New York, May 10. All major stocka moved into new high ground today but the initial gafus were cut later in the day.

The Battle Art forbids this. Hence, the United States pro- posal for substantial U.S. hian- eful ald some part of which k was suggested, be used to sub sidise rubber producers and the

sonte development Cabinet members who oppose the suggestion pointet at that U Ceylon terminates the past with China, which has three years to run, she will he entire- Trading was largely routine, ly dependent un American with the day's turnover 1,800,- generosity which, they said, 000 against Friday's 2,070,000 Паку dry up should Ceylon dis- and the smallest since last Apeli agree with American pulley.

22.

The Ceylon-China pact is due

Industrials Wert for price revision at the end of

The this year.

Amertean higher suggestion is that this would be | average

fructionally

ai

on balance, with their the highest level

a good opportunity to terminute since October 22, 1920, Lending

it

Issues meyed narrowly either Last week the Minister of way. Commere was asked in the House

Representatives whether

he proposed to terminate the China pact.

His reply was "Certainly not." - United Press.

Official's Faith In US Economy

Chicago, May 10.

The United States economic was not serious and the tel.:

had not yel Come "emergeny

nellon,"

President Eisenhower's

Afte

of

chiett

economic advisers said today.

Mr Moyer Kestobaum, Chair-

of the President's Study Commission

man

55

montal Relations,

Inter-Govern-

sad United States business could solve the current economie

decline and

Sicel shares were fractionally higher as the inchistry operated al the best pace in two months. Bethlehem rose half a point, US Steel gained 1⁄4 and General Motors %, ex-dividend.

i of 1,180 issues traded, 506 were higher, 408 lower. There were 108 new highs and 18 new lows.

The New York Stock Ex- change bond volume was $3,753,-

000

The American Stock Exchange volume was 120,000 shares.

Dow Jones closing averages were;

30 industriada. 20 ila

15 vilties

69 stocks

10 bonds

Comm future price ladley.

121,32

50,73

120,25

176.74

United Press.

New York Cotton Market

New York, May 10. Cotten futures finished a slow today with A

closing rally for the

Mr Kestnbaum spoke at the months. opening session of the 34th an

Trading volumes

smart

new crop

and

open

Union-Castle cost about chairman

10 12

S'ha Land 1.00 105 1,000 Ruity

2.02.07 1.600

១៨ 20%

2005015

time

1.60

25

UTILITIES

Trasn

Star Ferry

ZT 130

C

Light (0)

Age

Work!

U.K.

U.S.

Norway Panama

XIX

10

C. Lagat (N)

%

XD

the

Under 5 years

เย

21

3

40

20

Electri

391 300

30

5-1 years

20

41

20

20

Mica

Elge

1.80 12.20 500

12

10-15 years

25

14

22

Telephone

26.00

future "ups and downs through research and more foresight.

session

15-20 years

8

2

20-25 years

5

2

h

INDUSTRIALS

Cement

17 17.30

Over 25 years

18

13

10

1

STORES, ETC.

Dairy

33.1 300 23 00

Volume Open taloreat

MISCELLANEOUS

Yaurati

Banks.

May

26,300

73,200

145 1948 200 «

140

"Business could also help to

"We have effective means for July dealing with an emergency if it Mar. should arise, but that time has May July not yet come," he said.

Oct. Business could prevent sharp | Total

by ex- economie Ductuations ploiting to the fullest the pos- gibilitles of research.

42.000

17.Doa

Oct.

18,500

247.400

19,400

303,500

8,100

100.400

7,100

150,800

BOO

DO, TOO

DUO

10,000

124,3007

1,773,900 bales

United Press.

New York, May 10.

Closing

develop demand by Improving marketing methods," its Kestnbaum said.

Pricen

Mr May

Spol

July

Oot

Dec.

most airfields were step in this direr- these sels merely

| automatic system which show- of the arcraft led the position

glance. The standard VIF automatic direction anding systents

HOW instullert of course tion, bul and the bulk of the airframe show o & diut the direction or were salvaged from the sea.

They The Comet, which dived into bearing of the aircraft.

cannot show how far it is from the sea of Naples on April 8

the airfield. was lost without trace to very deep water.

the spend

the aircraft 100 and systared divided jrv

at 700 mph Po a plane Ovlag wil heat up above 50 € (7 x 71 alive the lend alr temperature. This head-1994 may lend ទេ soften the paint, which is then whipped off by the blast of alr rushing past the aircraft. Rain or boil has also to be taken Into recommit at high specil, it

The seirlists Ar Issuming hits the aircraft like a

that there was a common cause from RUN,

to both disasters, The new flash, developed by

Suy that there is Cellon, is unaffected by lem-

great deal of analytical peratures up to 400°F, which is to

be done before

shot

They

the heat possible near the ex-yinit.

hausts of the latest jet engines. Neither Comet

It is also resistant to jet fuel, lubricanta and hydraulle fluids.

Tested On Roof

one

its

В

crashes

anything

climbing

work

Age of the world's merchant fleets, expressing the numbers in cash age-group as a pererntage of the total. Figurts by Charlegy of Lloyd's Register.

TABLE II

THE COST OF SHIP REPLACEMENT

Singapore Rubber Market

Singapore, May 10. The market was quiet with Prices some limited trading.

and were fluctuated narrowly

st the close. sightly

Cost

Type of vessel

14

121% knot su-

perior teamp

A kot plain

cargo liner

1938 ..

145,000 570,000

260,000 1,000,000

1053

cost

7,250 28,500

13,000 50,000

1,550,000 23,750 77,500 Andersun, writing in the

5% depen. p.n,

On Depen, not On replace provided

ment D..

£

£

21,250

37,000

caster

Prices:

$3,750

No. 1 rubber per

May

National

Juso

July

that i This may mean

the pilot may be in emergency, doubt as to the best aired to lly to, particularly if it is

a night or he is above the cloud, and not certain of his position. test Getting a x from two or more stalions may take the control centre time. doing

апу

was

caine.

when unusual

Each

the

was

away from take-off

Just as Comets had been doing

Phone Line Used

every day for nearly two years, map,

the Using

new television control centres can give

including informa- tion about reducing his height to the point where he is taken over by the local controllers at the alrileld,

tapa

the

The new finish has been ex-To repeat this operation blind-the pilot all the necessary in- tensively tested at Cellon's

structions, ly may yield no result at all. factory near London. In

The experts want a guide on experiment to Investigate

what to look for before a Comet suitability for naval alreraft,

filles again. panel covered

with the finish

At Hatfield a series of high was placed on the roof! of the

Intovel conferences have been The new television screeti factory and sprayed with salt taking place to work out the system, called "triangulation, water three times day. It fing Unes of Inquiry.

VHE signals from been scratched to test its tough-

Work is stil progressing direction-finding equipment in- ness, bent in hot and cold

tunko

local there on the Comet 11's which stalled at the

alefields, to test flexibility and put in all were to be introduced into This information 'accelerated weather

I then fed service on the South American along the ordinary telephonle it with sea-water aprays

landline to the control centre, and alternatively subjects it to routes in the late summer.

Overtime has been stopped, where the signals are convert.. bilstering ultra-violet light.

ed by a television-type receiver. The airfield controller can from still receive information His direction-finding system Д The Royal Air Force is In-S

'television map and have it displayed"

ray tube, on uny interference, without the control centro 'tapping his set. The control

The

machine.

The new Onish a catalyst but normal day work is going nir-drying type based on

on. the

new epoxy-type resins. It is used in conjunction with

light-weight primer,

that aliing $0

R

only two coats are necessary system at its traffic

thus ensuring that weight kept to the minimum.

the

pilot

also

may

gives them

centres. The system especially designed to

control has been enable

cathode

on a

ote.

Research into new paints not controllers to see at a glanco centre can use information from only gives new alreraft a com

the position of jet aircraft in pletely adequate protective distress.

to ten different D.F. stations, The equipment at the control coat

*ing-it

and Royal crnire the best possible Anish arro- The Royal Navy

consists of

large dynamically. In fact, if one jet Netherlands Air Force are also ground-glass display Breen, new equipment either 40 or 80 Indies square. fighter is 20 miles an hour anatalling this

aviation Authorities On It is a faster than another in combat, and civil

specially-prepared showing

topographical owe his victory are interested as well. The sys-map.

ter has been developed by to the man who gave his plane

towns, features, Airfields, Ata Anish.'

Standard Telephones and The screen is Indirectly illumin- The Importance of paint was

ated from the rear. home in the early drummed

Behind the

screen are years of the last war. A cap following way. Radio signals thots ray tubes-up to ten of

Germaß fighter

on the num- was from the aircraft, ...... which are them, depending found to be 10 m.ph, faster picked Up on an airfield ber of DF. sinifons

used. In- than thr Splifire and experts direction-inding set and concoming information appears as were given orders to bring the verled to bearings, are fed by bright line shooting out from ezch station which is being Splinire up to par. They tried landline to the control, enire, everything without

Hero, bearings from two or used, and the aircraft : sanding and then hit on the, paint sofus, more of these stations in differ-out signals, is at the interse Lion By using A thinner ent parts of the country' are · llon of the "triangle,"

jured

Cables Lid,

The system

works In the

the

17 knot special-

ised cargo liner 475,000 Source: Sir Donald Provincial Book Review.

of years that orders have begun | £82m. prices. to fall off seriously.

Sult in the single year 1852-53. the

nf vensels less

[ell sharply

to replace

at current

To replace the P. and O. fleet proportion

£300m.. or some old would cost than 10 years old £15m. a year; in fact, the comi from 55 to 50 per

nual conference of the National interests in the Exchange today Association of Mutual Savings Month

Werch

NEW YORK PRICES

He said the development of new products and services, lo- Mar gether with

May Improvements t

July marketing, helped to increase Oct. total demand and economic and thus contributed

0044-0034

016-016 to

No. 2 rubber per lb. May 59-01 No. 2 rubber per lb. May 581-08 No. rubber per lb. May 58-66 00-0035 Spot rubber unbaled Blanket crepe

33-6035 63-6 No. 1 pole crepe

United Press.

NEW YORK MARKET

New York, May 10. Rubber futures closed today 35 £14.7m.and this

allow to 65 points lower with sales of included initial

as normal de- 65 contracts. as well

cent. The tendency to postpone pany was able last year to set repincement

is very real, and aside only Mr Butler's new proposals have figure come at an opportune moment. ances

preciation. FEELING THE BENEFIT

The Orient

in

The

-range economic stability.

better

95.33n

34.05-50

34.00

34.24

34.20

34.21

33.90

United Press.

these things are London Foreign

the greater will be the

business

to

done, contribution of stability," he said.

Mr Kesinbaum added, "Our

economy

Montresi

Exchange

la str

strong, and it possesses important dynamic New York factors making for

long-range Amsterdam growth. The real task before Blocked Mark us is not the prevention of Ilamburg economic

but collapse,

the Brussels

Copenhagen management of the Inevita-Oslo

Auctuations."...... | Paris.

Stockholm Zurich

Jesser United Press.

A lack on buying interest, plus able hedge selling and liquidation car Line built the prices on

a gradual basis, about

1940

for

to ship- £3.5m.; s sistor-ship, Spot No. 1 sheets were quoted New

no

the

In principle, the new proposal | Orcades applies no differently ning than to other industrial Orsova, will cost £5.5m, this at 21% cents a pound Prices: equipment, though shipping will year. So the Orcades, even if May fcel the benefit most.

rise

further, prices

will July

September Under the old system of initial have to earn a surplus of no December allowances

March was less than £7.5tn. tor company

replace allowed to charge to dopreciament over ita dife

---£3.5m. May tion a relatively larger part of which the Inland Revenue the initial cost of its equipment allows for depreciation on its

A

in the year of purchase, and a actual cost, and £4m., of which relatively smaller proportion In the tax-gatherer takes half, for later years.

difference in up the making

In effect, a company received price.

aloar from, the Exchequer which had to be paid back in ile form of smaller deductiona lator on-and it became more

Bnd more

common

SHIPBUILDERS'

Shipbuilders

*B

POSITION

woll

31.70h

29.000

22.656

22.05b

York Sugar Market

New York, May 10. World No. 4

sugar futures 2.656 closed today unchanged to one point lower with sales of 241 contracts.

United Prom,

LONDON MARKET

London, May 10. The rubber market was dull with No. 1 Rss spot quoted at 18-5/16 pence per lb. Pelces: No. 1 na spot ... Settlement houve term:

June

102-107%

Domestic No. 0 sugar futures closed unchanged with sales of 54 contracts.

Buying

London, May 10,

2.80 13/16-2.81 15/10 3.77 3/10-2.770/10 10.027-10,04%

11 10/10-12 1-1.7331-21.7516 149.75-140.80

19,6335-18,40%). 20.00-20.0114 26016-00812

14.00-14.58

32.237/-12.24

United Prem, NEW YORK EXCHANGE

New York, May 10. Canada

$1.01 11/16 Fingland-folal

2813)

canofficial **** 2,71-2.40

30-day futures.. 90-day futures,.

South Africa ........

2.31 13/10 2.01% 2,81 United Pres.

LONDON METAL

MARKET

London, May 10, credited to Cuban

very The in market was market steady while the others were all account, steadied the after

but quiol. Prices in

a faltering store. 'Dealers sought confirmation of rumours to the effect that India,terling per long lon as fol over the week-end bought 50,000 1331-IM

tons of British refined sugar. Tin

718

717

24434 245

stendy

1015-1926

laws:-

July/Bept.

Out./Dec.

1836-1576

Jar/Mar,

$89-19

Apr/June

2016-1055

General markets, cii basia, poring

This was part of the business Cuba had hoped to obtain.

spot Bemonth Copper spok

May

16-18 1/18

Future closings were!-

Land

May

June

July

Natale crepe thin

132/16-183 2011-20

Contract No. 4 (world)

1 Aug.

July

Zing

MAY

Reptember

5420

Aug.

784

****** Ualled Press..

LIUN

October

January

BATETI May

for the shipowners will benellt from inital allowance to be neutra- Mr Butler's proposals. Orders lised in accounting practica. from British owners represent Initial allowances were a something like 60 per cent of bait that worked at first, but the total orders for new ship- coased to allure on refecilon.

ping In British yards (last year "allow-ma" bad year-the The new investment

Agure was ance, on the other hand, is a 380,000 tons. out of a total of And British raal gift. Anyone who buys a 020,000 tons). now pleco,. of machinery will orders have been falling off. gel 20 per cent of its cost allowed against tax, and the 20. It has been estimated that por cent 带

be deducted new orders should amount, to

Budiness was done in the focal when ordinary depreciation in some 200,000 ton a year to

nxchange market "Third Euty calculated to for the purpose koop the present feet in being unofficial

marning at the following rates: September of calculating the balancing last year, they roll some 40 por

8: doller (per 331 day. Als 74 November charge if the machine foldecent hort of this total. If the terang pot pre

The Treasury weaving in new step helps. Und shipownere indonesian rupiah (per 100) 210 spot (conta per 10. NY effect: We will subside those it will bonent the shipyards ari dosla (per 1009

Hingapore (Straits)

Interest: 7,308, contracts.— Indo-China, plastove (per 100) companies who invest in now wall.

Exchange Rates pot fronte ver it, fob Cuba

18.73

Open interest! 6.011 contracts.

Conteset No. 0

March

Mar 29.00

9.67

Open United Prom

NEW YORK FUTURES

New York, May 10.

Prices of metal futures closed today in US cents · per' il,,, as follows A

Load

May June

Tin

May

8,750 AAA 8.89 Zino

Juno

May

June

Copper May

11.35b