1954-07-06 — Page 9

THE CHINA MAIL, TUESDAY, JULY 6, 1954,

The Auster Aiglet Trainer

TRADE and

The Auster Aiglet Trainer powered by a 180 hp Gipsy Major engine is now in world- wide service as bath a civil and military aerobatic trainer. If embodies the following Tea- Syren: side-by-side sealing: provision for full Instrumentation and 2-stage amber simulated night flying equipment; sufficient performance to complete all aerobatles without losing height;

seating capacity for three.-Austör Aircraft Ltd. Photo.

NEW BRITISH TROOP CARRIERS

BEVERLEYS 1,000's

BLACKBURN

& ORDERED

VICKERS

BY ARMY

Britain's Army leaders have, sir e the end of the war, kept in mind the need for fast transportation of troops, not only Lo distant battlefields, but to forward areas. White- hall in now decided and acted on the views put forward hy their foremost planners.

Order have been placed for fast Vickers 1.000 troopers and lackburn Boyen-ya. The latter is a slower plane, but has a dual purpose.

ideal for moving smal! De Havilland's Beaver and Spottish Ayiqffey's Pioneer are undis, such as sections, almost to the enemy's parapet.

The British Army's plan to make greatly increased use of "air lift" for the future movement of troops equipment ik

and

NOW

or-

taking firm shape. Recently an order was placed for 21 now jet transport and ders for other aircraft were increased; further aircraft types are being studied,

13

now

72

Army's

COMMERCE SECTION

American Businessmen COTTON PROMISES

More Confident This Quarter

TWO HEARTENING DEVELOPMENTS

By John Morka

New York, July 5. American businessmen moved into the second- half of 1954 more confident than in months over the good economic weather ahead.

There were two heartening developments underlying this buoyant optimism!

re-

1. Further indications that the months-long business cossion has just about levolled off;

that

date become accessible Once ugain.

Encouraging for Americans interested in a return to cur-

has Jency convertibility New

been the rising Industrial productivity in Western Europe and the overall improvement 151 the and dollar holdings At nationa outside the

over

2. Prospects markets for exports might be imminent jra Western Europe as a result of the approval on convertibility of the member-guld nations of the Organisation for other European Economie Co-opera- | Soviet bloc. Itecent igures show that these holdings now 10t! $28,300,000,000

of March 31. This is an incronsu The of $2,200,000,000 over previous quarter.

tion.

American manufacturers and exporters have a big stake in the London conference which gets under

way Op July 15. United States commercial ex- ports have been in a decline for two years.

NOMINAL INCREASE

Although in recent

months

21

опе

Finally, for the diatopt future, ' September 7, 1. 9. Tuesday, The Wednesday and Thursday (Civil there is the helicopter

interest in helicopters; Aviation Day): Guest days. such

exports have shown Display opuri otily to

nominal increase of only hose invited by the Society. Is per cent, convertibility would not to the public.

mean that many markets now restricted 113 part or closed altogether

has beep meatly increased as a | result of a high-level study recently mado of the impaul of atom) weapons on the whote Laeties and

TNTER.

strategies of September 10, Friday: Pubile It was discoverd that Promiare. Large floet ol wheed become A vehicles which has

List

modern army

will

bu vory

can

Saturday September 11, 12,

open to erary accompaniment of the and Sunday: Display

the public. gates open

at 10 vulnerable to alamic attack. ... flying is from a p.m. and

The Army has therefore made the gates close at 7 p.m. Although it will be some time

astuuty of the extint to which before big transports are

wheeled vehicles can be carried Tickets for Friday only service,

possible

ter Lay

The Army's intention be obtained in advance through air". foresee the day when a squad- is to inuodure helicopters to the Autoparks Lid., 1-31 Macl[se ron of high-speed transport air-maximum extent because it is Rood, Olympla, London, W.14.. craft can "ily more than a thott- | felt that these flying "eens" and or through agencies. Tickels pano men to a distant battlefeld | *18 ewts will be invaluable in for Friday can also be obtained

Under study Sa matter of hours-a toove.

Home warfare,

at the gate. zuen:t which takes weeks by ure not only conventional hpfl- ship and days by smaller copters but alling units Tickets for

present-day aircraft.

Today

Bircraft mure British flems Than ever before are working designs specifically with Army requirements in

which

be attached ena different containers to carry them through the air for short xlistances.

Jet Terminology

Saturday

Sunday will be on sale of the gate only.

תנו

duebe

might

to American

at some

pro- future

Geneva Tin Agreement Effective

The Hague, July 5. The Indonesian economic counsellor in New York, Dr Zain, told United Press and

here today 'that the Geneva tin agreement could now become effective since the major

con- sumer countries have all signed the agreement now.

Expressing

satisfaction with this development, Dr Zain said: Indonesia, gecond largest tis producer in the world, was now assured of sleady exports ut reasonable prices. This meant an important step forward the stabilisation of the Indone- sian economy.

Aer Lingus have decided to 433 48-ster Viscounts nearly all their flights between London and Dublin. Four of there furbo-prop airliners have already been ordered.

They will also be used on the

The future pattern of atr Operations by the Army is **** pected to be along the fuljow- It is sometimes thought that ing lines:

very fast the by-pass type of jet engine- "cannonball" service which will the latest type of jet under move large numbers of urgently ↑ development Britain-works nerded troops or equipment very on the same principle as the the Vickers-Armstrong produc- quickly to trouble spots. This ducted-fan.

is the Vickers 1,000.

✩

The

Dublin-Manchester Amsterdam run. The planes will come from

tion line at Huru.

There however, a difference. The ducted-fan is essentially a propeller running in a duct and Liiven by an engine -- nios, probably a

gas turbloc.

Recently appointed develup Second, a fleet of much lower from the

propulsive force is then derived ment pilot to the Britannia

acceleration of

the Fleet, "hervy - it"

Capt T. H. Farnsworth propeller-driven relatively large mass of slow-

has personally desimed for a dunl

flown in *rsports

Dir expelled by the initial stages of development all moving drop Troups

topropeller, and there is only but one of the types in service unning by parachute

comparatively small residual with BOAC. take them in land at advanced

thrust from the jet exhaust of forward airfields where gross is the engine. the only surface on the run-

This work will be di 10: why.

by

or

und

The by-pass differs in Luzo Binckburn's Beverley ways. First it probably makes Twenty Beverleys were original use of a two-stage compressor ly ordered and this order has in which the Art part of now been increased.

compressor superchargea the

The Buverjoy's

the

re-

his

in

Dr Zale, who is a member of for The Indonesian delegation the union talks in The Hague, also expressed satisfaction at the agreement, reached recently with the United States, assuring Indonesia of a steady expart of 18,000 tons during the third year of the 1951 US-Indonesian tin agreement against normal market prices.

but that year

here

05

Anglo-American Trade Talks

Washington July 5. The Present of the British Board of Trade Mr Péter Thorneycroft and

the Director of the United

States Foreign Operaślana Administration, Mr Harolil Stasson,

are expected to complete private talks on control of strategio ex- ports to Communist nations tomorrow, officials said today.

A statement ou the talks. which have been going on over the weekend, in ex- pected tomorrow after-

Hoon.

Technical experts met today to work on some of the trade control problems takoti цр by the iwo principals. Renter.

HONGKONG STOCK EXCHANGE

1600

TO BE IN THE NEWS ALL YEAR

By C. T. Hallingn

London, July 5.

all this

Cotton promises to be in the news your. Stating it from the viewpoint of cotton markets, it might be more accurate to say: Cotton threatens to be in the news all this year.

1. To begin with, world pro-, down - spelling textile redun- duction of cotton in 1853-54 1s dancy-but British Industry 1s fairly souring, the highest doing well.

production over reached in his-

tory was 49.8 million bales in Q. This is the time and this 1937-38. This year it is run the world in which the ancient ning at the rate of 40.1 million Liverpool Cotton Exchange has bales, the second highest. re-opened on May 18 is famous

Can the world

consume 49.1"ruture ma

market

whose facilities, million bales? Can

do it is hoped, will enable cution against the enhanced productionsplaners (and other branches DI of intereating man-made fibras? the Industry) to protect them- Can I do it at a

somo selves from losses due peke four times higher than prewar { Buotuations In row cotton prices?

prlees.

raw

pay

to

the

3. Then there is the seeming | Inability of the world lo

WIDE ATTENTION dollars for American exports of This attracted wide attention

cation. She

produces a with hearty cheers. The Dally very popular cotton, one which Mail in an editorial on May 18 bas largely shaped the world's declared: "This is a red letter (extile Industries.

Her

exports

duy for the great City of Liver- In 1952 were down to 4,289,000 pool, So it is for the entiro hales, which was 26 per cent of country. her production, but in 1953 they

This technique was bivented wero down to 2,900.000

bules, equal to 18 per cent of her out by the Liverpool Cotton Ex-

change In 1808 and put of 18,437,000 bales,

worked successfully through booms and slumps until forced, by German bombs and submarines, to close down in 1841.

PILING UP

(From Our Correspondent)

Business done on the Hong-

Her cotton in piling up, some 8,000,000 Kong Stock Exchange this morn-

vales, wulling for

Some 43 firms have joined to Ing amounted to $303,030. Noon buyers at around 91 cents a lb. mako

12:0 Liverpool Cotton quotations and the

3. Russta is exporting cot-market; there will be morning's dealings:

ton. The US Department of many others before is work- a good Business circles

have SHARES BUYERS ORLLBRE SALES | Agriculture. in Its weekly been impressed by the recent HANKS

Kayling realistically. bulletin on foreign agricultural novelty is the admission of big One significant lifting of currency und trade FC Bank

news recently INSURANCES

reported In major trading restrictions

from cotton spinners to membership. Untunt

sou fro

Brussels: "Some of the Belgian United Press. 70 nations, such #6 Great Bri Underwriters 0.30 0.30 1000 0,70 firms have stated prices of cotton tan, West Germany and

SHIPPING

purchased Netherlands.

1 1,08

from the USSR They look uDon

few months ago were attractive these

along developments, with the rising Industrial pro-

comparison duction in Europe, ឆន basic of an atmosphere eventual Com-

components leading vertibility.

to

the

Ade Nov DOCHS, ETC.

10.30

HIGHEST DEMAND

Elsewhere, highest type demand has lifted the RO- called "blue chip" stocks,

K Whart Dock... Provident (Old) Shel Dook Wheelock

... 19:30 1.05

7.29 7.39

08

1:48

In

growths.

4.

with

a

other

Brozi), which had priced herself

σε out

international trade in cotton, scems to have worked herself back

she

in: 6.00 8.85 2000 m 6.95

recently sold some cotton at a price one per cent under the American price.

Stat Land 140

Then there is this strange proposal for a Schuman plan" for

LAND. ENC.

JIK Hatel

HK Land

30 1171

Humphrey

of

Rity

17,00 ..... 3.0211 2.10

UTILITES

0.

27.30 20 100

SMT Ferry

27.70

2007 147

100 4 18.00

#80 500 şi 10.40

C. Light IN) 12,40 13,00 200

Fleotele Macao Elec. Telephone INDUSTRIALS

Sled 2015

1

1800 ve 12.00 બાપા 220 (14

Y' Forry or the

while the speculatives near-investment type Issues in were apparently neglected the rise.

many

140–148

Č. Light (0) 10,40 1935

20.00 07

the West European cotton textile Industries.

end

"COMMON MARKET"

two

LONDON

STOCK MARKET

Markets

London, July 5.

had 24 fairly

good day with plenty of

left

#

Homewhat

At the recent annual meeting steady advances which were, This high type of investment

of the International Federation however, marred by Home demand from institutions La

of Master Colton Spinners and selling just before the closs expected to continue, although

Cement 19.20 10.00 1400 1020 Manufacturers Associations. al which some of the experts feel that STORES, ETC.

Buxton

Lancashire, In the best stocks have Dairy 24.34.00 1760 @ 2400 speakers a Belgian economist ragged #ppearance,

Watson achieved top gouls and are pre-i 1. Crawford 22.70

Dutch economist

A few polular issues held their sumably entitled to a consolida- i coÏTONS

raised the question of forming gains, like Rolls Royce, up 35. tion period.

"common market" for the fed to a new peak of 965, 9d. West European spinnors and Imperial Chemicals rose 9d, toà manufacturers, much us the coal now peak of 72s. Od. but closed and steel industries are doing.

12 few pence lower. Speaking

There were objectively, enty of gains of dd. such as they pointed out the chronic Woolworths, Vickers,

16.00

Tuotem MISCELLANEOUS

750

Hence the foeling in Street is that the market

Wall will

Yonglaze Alled

... 0.20 0.50

3.70

not be subjected to much more than a technical setback which

Д

very

de

might be followed by a fairly Singapore Rubber duties, how they duplicate Haviland and British-American

Jpng consolidation period then another rise.

and

Market

Singapore, July 5.

Tobacco.

each other's plants and capacity, how they protected with tariffs: their high costs and out-of-date

Talk of a new gilt-edged issue According to top ranking

equipment, etc and so on.

check the buoyancy in British market exports, the market list

from Theountries

several Government issues; a few liko for the next six months should After opening 'slightly lower dozen

sat there cd Consols and War Loans eased operate in a range of 840-350 the market fluctuated through-stunned. Was the handwriting sterling. in the Dow-Jones industrial out the day and closed steady. on the

wall? Nobody stirred. average, and should reflect re- Prices: lativo stabilliy.

No, i rubber ner ib.

sijus tion

and the fact that leading stocky pro viry high compared with what they

701-704

47.68 ASIC-001

BIGH OF RELIEF

Presently a delegate rose and Oils were easier with the July 701-7014 asked if it wouldn't be better to seception of Royal Dutch, up &c. AUR. 70%-71 Sept. 701-71% postpone such an enterprise until 3d. to 40 13/16 pence sterling; July 0914-70 there was full convertibility of Anglo-Iranian lost nearly 2a. D

0812-09 currencies,

Burmah Oll 18. d. and Shell is. Od.

Gold finance shores Everybody let out a sigh of favourites with Anglo-American rellet. And nobody seemed to again, leading, up nearly 24.03. pay any attention to the rather Debeers also gained nearly 26 rambling answers,

Od. Rio Tinlo rosa 4 sterling to But these two economists have a new high of 324 sterling. started a discussion which pro- mises to go on and on.

INT'L SITUATION

No. 1 rubber per lb. Nati About the only unfavourable

Wall Spot rubber unbaled developments noted by

Blanket prope Streeters-a quick and sensitive, I PAR Prede

barometer are

United Press. business

the

AMSTERDAM MARKET uncertain international

Amsterdam, July 5. The rubber market was firm. guilders were at the Prices closed today in

per Idlogram, eif, Aug. follows: make

No. 1 rubber Principal oman No. rubber a long list. these are business adjustment No rubber appears to be nearing an end, No. 1 crepo carnings Ere holding high,

crick of 1953.

The favourable fema

US had dividends may set a new high

in 1954, tin

stock yields remain

the Dr Zain said agreed to buy Indonesian

NEGOTIATIONS He has just become the first

During the first two years of recipient of the British Air Line Plots Association Gold Medal this agreement the US bought ot fixed price throughly

award instituted, largely Indonesian fin

the agreement stipulated the inspiration of the Can

for the price

the third Capt A. G. Lamplugh, to cugnise long service

would be fixed through to the pilot carrying maki engine compressor. Second, community.

later negotiations. Capt Farnsworth, capacity can be judged by the the thrust of the by-pass engine who is Chairman of the Asso- is the result of a combination clation's air safety and technical fact that it will hold ten jeeps of both the hot gases

which freight in the main

compart-

have passed through the

committer, has flown com- ment as well as troops rig bustion system and turbine, and hours in over 40 types of airs

dogs! 1.000 the by-passed of which equipment,

not go through the system bul

"Aviation Wock" says that rejoin the heated gases towards KLM, bus won permission to the exit.

operate passenger flights to and from Manila, becoming the first foreign carries to cash in Philippine Air Lines suspension of Int

International services.""

rear

carries ita

the Vickers

electrie own which picks heavy loads up off the ground and raises them to the freight deck.

These Jargo aircraft have been ordered not only because they can do some jobs which could only be performed VERY alowly and with difficulty by

Aircraft

craft.

as

buyers 2.02

2,01

France has £ number smaller cotton mills now closed

ni

2.00

2.47

£8

were

Japanese bonds were enzier with some down much us 1 sterling on news of Japanese economic difficulties. German Potash lost 1% and 2 sterling

Chinese were weak-United Press.

US Raw Cotton and the Reich Loans 2 sterling

Exports 11,000 during the third year against attractive compared with other

on

· KAFE AR 19 Day that. The

Unded Press. LONDON MARKET

London, July 5. The rubber market was firm with No. 1 Rss spot quoted at the normal prices for stock, investment material, money 2015/10 pence per lb. Prices: piling purposes. This means It is easy.

to No. I Her spot ** 2014-21 and is expected

Bettlement house termi 2011-21

the tin would not be marketed keep that way, and more tag the prices in the world market relief is on the wayUnited would thus remain higher: Press.

The agreement was reached after Indonesia had warned the

LONDON TIN US that Indonesia, dependent as it is on its raw material ex

MARKET pont, would suffer greatly if of tin on, the free

London, July 5. Morning session: The Hin The United understanding the con- market was steady but quiet, to Spot was marked up 2% points Indonesia's already

Was dawn 4 to 743% sterling. economic position, agreed to

Turnover was 15 tone of which continuo in stock plling of tin

none was for cash, for another year-United Press,

The 1934 Flying. Display and pranes has asked dumping surface transport, but also be Exhibition of the Society of permission to take on and unload market would result in lower- cause in many cases movement British

Constructors passengers and cargo in the ing tin prices. is cheaper by oir. In particular will be held at Farnborough Philippines in an effort to extend Sintes, the abnnonball trooping service from September 7 to 12. There is Constellation servios from sequences of another blow

to will be a press and technlolans Saigon to Tokyo via Manila," will enable Great Britain keep a mobile strategie reserva preview day on Monday, Bop-

In being, ready to fly at once to lember 8, trouble-spots, without the Bxw

As in 1999, has been do

pense of men in the pipeline of elded that because of the Im- the slow troopship,

Bush Transports

portance of commercial aviation,

Thursday, Septembis B, tha

last

Safety Record

United States CIA.B. 'Chaleman

of the trade days, will Chan Gurney recently sold in be a civil aviation day on which mention

with tha U.S.

the Aying will be by commer scheduled airlines' 1982, mafety cial aircraft only. Millitary air-

"I

gr impressed when nassenger, could, rku ximately 180 years 4 hou

INDUSTRIAL AVERAGE

Industrial

Now York, July 4. Row cotton exports by destina- tion es reported in bolas by the New York Colton Exchange for the 1933-34 season to June 20 were as follows: Brilain 20-4-291 Continent

201.-31 21-2016

214-214%

20%-2015

Dentral markets, elf barla, portsi

2013-11

Drient

unquoted Canada

weak to 765 sterling and three months London Foreign

London, July 5.

average again} elcand at a new adting high,

Thoro may also be increased its will be available for in- learn that 1, na ni qVORIZE use by the Army of 'bushspection on the ground. transports, which", tako small] *) groups of infantry moneper- The Diapipy will be open to day, on US adheduled slylines at 154.8.-Reuter, haps only a section--in and out the public for the last thre hath within the List and abroad Saturday and before my number should be up. is the Trublis I am diamured when I lewens

that moer thin ED Thure will be a Flying R

Flying Piper PORTDEO WAS

of small grass, field xlght: UPZ-Friday,

on the front line if MOSESATT Pemiere.

The Scottian Aviation Flongar

Friday

in Malays and the de Havilland paler afternoon.

ta

now being used for this work

been, bought by the merlaan

Beaver, hundreds of which havo

The detalle arp as follows:

+.

Beptember ₫ Monddyan vennle thinkCWIJ HE

Air Forms and und_ft Kérée, clams, and Prese proview," the ↑↑ retoung

ja now, available in Britain. Display is not open to the public. Biercie, in!

LONDON

Cibaing prices in sterling per lang ton woré:

Spot, but...

seller amprata buyane

sellers

70

320,278

LONDON WOOL

Wood

TOPS

tops

London, July 5,

futures market closed barely steady. For most

1,055,000 months sellers demanded about $329,613 one forthing more per lb; turn-

245,421 over was 65 lots.

3,618,513

Bey!

Ol/Dec.

Jan/Mar.

Apr./June

July AUR. Sept.

Este crepe, thick

Th

United Prow.

Total for Season Same period last yeart ** excluding Unjard.

Closing prices were:

United Fresn.

July

153-18316

Sept

140-150

SAO PAULO PRICES

$473-

Dec

São Paulo, July 6, Prices of cotton futures 'closed today, in cruzeiro per kilo as

Jan.

Mar.

2401-24234

May

·faltows:~~~~

Spot

31.50

Deg

Jan

Of

20.43

Dec.

MAL

MAY

83.03

-United Press.

ARGENTINE COTTON BARCE

—Unlied · Broan,

Buande Aires, July 57-

The Argentina: cotton

Farop

Exchange

New York Montreat

Aterordam Blocked Mark Hamburg M Brumo Copenhagen Afternoon session: The mar Blockholms marked up 1 sterling to 750 and Ret

steady With spot

Myrre mbaths down 4 to 746

Win

نواع 2

almost-harvested will be

“United Press.

LONDON' LEAD

AND ZINC

London, July 5

Copper, and

tone, pult for Exchange Rates around 2000 font, whereof to a word steady. Prices, closed

Turnover vos 10: fono, nil for. dygtiges at the end of

únofficial: exchange

worm) 140,000 tons of Abro will at the end of the unoffdel afternoon markets as follows,:ln oblalued,

Gaceta

ratchpara 711-labelloved the erop will be Conner spat with

1950 a moord opon. The provisional zinu Jul

WISE) friontha Amor, 100) To export Ogure of 35,000 tona

#will probably be exceeded Lead Bly