1954-07-27 — Page 9

Our Weekly Aviation News Aviation News

The Comet i jetither as it èmètgèo from its banget at de Havillands to úkdekkó fís

first fight tests on July 19.

THE CHINA MAIL, TUESDAY, JULY 27, 1954.

British Jet Engine Powers Newest

U.S. Midget Fighter

be

The Comet 111 mande its maiden Hight ni, Jhly 19, but two years of testing will necessary before the plane goes into service with difithes. Flight tests have been authoriseri And If 10 hours are done the public may get á éháyér to sếc the Comet at Farnborough next September.

The Vickers Viscounts are more than paying their way, especially for Aer Lingus as the aircraft is ailracting more passengers tháp khe other Blane,

The last of a tiree Princess Ryttig-boats is to he enrouned shortly, but its future is al present unknown,

A British-designed jet engine powers the US, Navy's newest midget fighter. American version of the Armstrong Siddeley Sapphire.

A Britsh-designed jet engine powers the U.S. Navy's newest midget the fighter.

Douglas. A4D Skyhawk,

The aeroplane, half the size of most current jet fighters, la fitted with a Wright J-66 jet engine.

This is the American version

British of

Armstrong The Siddeley "Sapphire," one of 1710 inos powerful jet engines

the world.

211

British Like

other any engines. it is being manufac tured under licence in America. bringing dollars to this country. The Skyhawk is designed to operate froth navy carriers from short land bases.

[1

can

Although it is small t

fighter's carry all the modern weapons, including atom bombs. Beenuse it is shall the not baby A-bomber does riot have

calculated

RCIS

ve

that 07,000 pass121-

It is the

UNITED STATES ECONOMY

Heavy Motoring Assists

Oil Companies

By John Morka

New York, July 25.

The U.S. oil industry-plagued by too much supply, too little demand-had something to cheer about this week as heavy summer motoring and price cuts brought a welcomed drop in the nation's petrol stocks.

steeks

WMERCE SECTION

ASIA TRADE STIMULATION

Manila, July 27.

A simulation of trade among countries in the, Asian region 2030 86 ext Beted with the proponett formation of the Aslam Payments Union patterned after the Europtain, Bay. ments Unlan, the Alne Vice-President and Foreign Minister, Carlos Garcia, disclosed yesterday:

Mr

Mr Garela also said that British financial experia expressed favourable re actions to the proposal. France-Presie..

HONGKONG

STOCK EXCHANGE

Paré 9

Dunlops After Bigger

World Markets

New York, July 28,

Dunlop Tyre and Rubber Corp., one of the largest manufacturers of rubber producte in the world today announced an expansion programme aimed at capturing a larger share of the tyre market in the United States.

The Compthy haq 01 plants throughout the world and em- ploys 93,000 workers. The A programme designed to cap- ture a larger share of the pas- renger end. Huck and bun iste

Latt.

NEW YORK STOCK MARKET

As part of the new programine, the Combany is investing ve millien Bollars to moderült manufacturing facilities at its (From Our Correspondent)

Buffalo plant, New York, it was Business tione on the Hok prisident hir Glenh B. Clawford anwilted binily By Edmpany this P Stock Exchange

atid Mr John H. Lord, executive riss an offered for sale, only five drow morning amounted to $772,198:- the of the world wide Dun- marked up a point or more

Noon quotations and the top Company.

Or the

kong

Inventories <if patrón - were | synthetic rubber plants appeared pared t. 181,798,000 artis in to be ingrip, reports the Journal the week endel July

19, of Commerce. All told, 30 pxs- were stui pective although

buyers have mads 75 3,590,000 Berrels above year separate bids for the 500,000,000 The oil industry, besof by synthetic rubber industry, which heavy inventories i pazol will be tuned over to private other reinad

products, reently interests,

27 plant, reduced Its refinery average 152,000 barrels a day

than crié bid, more tr 8,808,000 barrels daily, can drew only

single hid 11

remaining pared to an average of 7,008,000 picat. The barrels a year ago.

drew ha bids at all. Meanwhile, three other magm The Government has been

HK Bank XD 1643 1600 firms fiult CR Corpcratkin, banking un a surge of competi-¡ INSURANCES Cities

Services Co. md Pure Dil tive uidding to insure a high"

863 075 Unica Co-aided

their

Lombard... names this pries for a fellities

Underwriter 7 30

Waterbent -15 DO

while 1 v0.

morning's transactions- Bul Three j

week to the expanding list of The National Foreign Trade firms who have announced pro- Council said the decline in U.S. duction cutbacks. Pure Obusiness activity this sour shalat scheduled 3

per boat recur imports $600,000,000 to duction, Cities Sevice 18.000 total of $19.500.000,00. km- barrels daily in sème renheties, is farley

ink

the stu barre

30.000 barrels under last January. U.S. exports this Gulf over

year should exered 1953 levels glut of wil produeis has by 100 shillin or more, the

effect ph off tunel

Buld in depressing ॥

mild-year generally.

V.S. shipments there appears to be nothing foreign countries-exclusive of resembling any pante dumping military

programine-Will

ly scheduled rates,

<-

badk securites

Even the 306 : not the last a year could be carried word where the Dart

by a fleet of cerned. over the Atlantic

Comet 3-nearly 20,000 passengers per aircraft,

The prototype Comet 3 which har just flown is owned by the

Orders Ministry of Supply have been received for three of the production version Pan-American World

Air India

from Airways mrdered trave

Ewen, and BOAC will take delivery of Ave, Panair do Brasil, the world's sixth largest airline. have an option for two. And have also placed an order for four Comnet 28.

The total value of the ien Comet Ja ordered by the air- lines to date la in the

frgiop

for of which

of £7,500,000. In addition the total number of 'options" Comet 3s is fourteen,

even

for Pan-American arc and five for BOAC.

to have folding wings like mest airline, is fading that its pur-

serge-borne reroplanes,

Aer Lingus, Elre's national

of chase

Vickers turboprop airliners

Viscount is bringing

By the summer of 1955 Holls-Royer will begin produc- tion of the Dart A.Da.6, which Rives 1.550 hp for take-off and Vet more cruzant nower con- bined with greater economy.

The development of turbine hlades which are more efficient than their predecessors is one Feason for the part's improve- ment. A helter reduction gear has produced

Increased take-oft power. This reduction gear will have the added ad vantage of giving an even at cruising lower noise-level

As

experienc speed.

Many already prefer to passengera travel by Viscount because it is conspicuously berler ilinn piston- vibra- engined aircraft where tion and quietness are concern- ed, it is evident that future Viscounts will provide a remark- able standard of passenger comfort.

The whole project is likely to be shelved for about two years unt more suitable engines are available for the aircraft,

although Leview,

Bild

of oil shares.

Some Wall Street reach $12,500,000,000, experts five notert u roliceable exper drop in

FOREIGN COUNTRIES

Foreign

SHARES DUTERS SELLERS BALES

DANKS

SHIPPING

Asia Nav

DOCKS, ETC. K. Whost Dock Provident

Wheekick

LAND, ETC.

IK Hotel

te

11K Land

buyer Intert in oil shares. Major stacks holders-- such as investm:ht trusts have the gold intl dollar reserves By corres improved Bren Seducing in some chech

700 mich in transactions with the holdings, it way suid,

the U.S. in the first half of 1954, MAGAZINE REPORT and this tate of accumulation?

should continue for the According to Business Week

mainder of the vear. This magazine, erude producers Isares

wr-uld bring Teserves for the thin of the year na have lost about a

139 by #tiala 24.5 per cent gain for 1.51 ran $1,600,000,000 to $2,000,000,000. This figure would be lower than up by the end or May.

companies the 1953 1cord. This Interested Average Just more than a quartet decline was

attributed by

by the of the 25.1 por can gain for Count to increased deliat pur- 1954 that L had before Jun. chases

chases in the US. from abroad. Out of a list of 38 oils plead There

ir indication was another at

range

The

from

oil in

signi-

S'hat Land

fi91

122 @ 32

00019.40 300 DAY 300009

10 49 13 300 LLDO 735 1,40 1000 4 7.30

p.20

0.20 $12 $500 a

Humphreya 10 loss

Benify

UTILITIES

20715 2.12 10.000 2.10

Tom X8.. ID 70

Star Ferry 132

Y'a Ferry 147 14D

+

2300 & 10 80 119.00

LigM to 18.20 10.30 Gsco a 18.20 CLEM (N) 13.20 13 30 2132 13.20

1000

1312 Plectric

23

703 4501 Telephone. 28.20

INDUSTRIALS

Cement

Rope

Mr Lord also announced plans

New York, July 26. Aircraft atocks were

in active trading today to

of the international Dunlop to Penture an otherwise Poutine build new rubber manufactur-Bession which left prices un- ing facilities in Canada. He changed on average.

13

It bring CX-

said a plant recently built Brazil alrendy panded,

Tobacco shares also strength- oned when the internal rovéhus The Canadian plant is expected service reported the first rever- to be in production of tyres und sal in die indiths In the down- foam rubber early in 1955.

ward trend of Mirette produe.

Mr Loid added that expantion. klon wat to přegfejs at Dunlop plants th Japail, Germany ahu France.-Uilted Press.

A few chemical stocks, some tire shares and one or two rails álad featured

in the

upside For the market as a whole, low- even

price changes were very Industriais closed nine

World Cottonmower on average, 13lis

Markets

New York, July 20

un-

pine cents higher, utilities two cents lower leaving the Dow- Jolies composite, average changed on the day.

Trading was the slowest In

Cotton futures teday scored tivo weeks, with turnover total- gains exceeding $1.50 a balling only 2,110,000 shares com- 3ting indst deilveties to Howpared with 2,020,000 on Friday. 1000 2856 casonal Bighs.

A block of 10,000 shares Raytheon helped put that Insufficient weekend rains, issue in top spot in the active with A revival or crop group International Telephone, detuleration fears, generated the Pan American World Airways, Boeing Aušraft, Youngstown Sheet & Tube also were among the more netive issues.

1000

20.36

1000

1800

....22.10 14.70 STORES, ETC.

Dairy

100 2014 500 @ 20.30 main price-lifting power COTTONS

Ater rising as much as 33 Textiles 4.35.

ELLANEOUS

Mine XD 6.90 a 2000 a 6.95 points, the list closed net 10 to Allled..... 4.03 40747000 40827 points hither. Opening prices were off to ip 8 points, New 27 up 14 to Orleans closed points.

Centern over latest political developments in the Far East, pointed up by the downing of two Chinere Communist planes by U.S. carrier-based fighters, added to the wariness of sellers,

World Rubber

Markets

Singapore, July 20

With a padly of offerings, American resistance to higher prices responded readily to levola

the Indo-China Ogreement combined

and

10

Market

tesders face

sold: the

commentators hesitated irk of the uncertain world situation and in the absctice of any new stimulus, although the backgrind of Market news is predominantly favourable.

The aircraft shares had galik ranging to 15 points in Boeing, Douglas and North American Aviation each closed 14 higher. and United Aircraft was up point.

+

In the tobaccos, Liggett Meryers rose 1 points, Philip

a Morris point, American

·Tobacco · and Reynolds around 14 point each.

random, Busine 39 Week this week of President Eisen- noted that only one was holding hawer's apparent reluctance In its 1954 high.

nder the so-called boost torlits

Older The others were dawn in a "escape clause" as recommended

3 per cent to 18 by

Tarift the federal

Commis- Under the escape clause per cent from their year's peaks.sion. The last of the three massive

38 American 140-ton Saunders-tee Printer It added: "The same list of

industry

for can ask relief from, foreign is in be coconned backs revealed another flying-boots

competition

week, shortly, and the future of the heart weakness. Despite all the through higher import duties or

1954 strength of the industrial cther restrictions. This dercplaner-the biggest built in Britain-is uncertain.

averages and the big part played the President was to act on a

the upsurge Tarin Commission recommenda

touch moderate demand from local tually

half of the 38 oils tion that tariffs only

tion

on zinc and

off ilquidation in the Singapore professioitals, plus a routine this year were able to exceed tead imports be boosted 50,

the mill and shipper demand. cartier registered highs for the cent over the

market sagged 1945 levels. The rubber

Treding vélume bid opeti

Out of a total of 1,109 feguet 1949-54 bull market. What's President's action in extending Weekend inspite of some trade

interests in the Exchange to traded, 484 were higher, 421 the and factory support. Ahal action beyand

lower, 204 unchanged. This summary of the rubber day were:

The New York Stock Exchange Volume Open interest bord volume was $3,225,000 was given in the weekly dsal

The American Stock Exchangở port by

by the rubber brokering Des

volume was 540,000 shares. Hirm of Holiday Cutler and Company Limited.

DOW JONES AVERAGES

Now York, July 20. Dow-Jones closing averages on Wall Street today were as follows:- 20t

His combat range is greater results.

existing piston- than bigger

decided When the company enging aval altnek aeroplanes.

In the bigger aircraft range to buy four Viscounia, It was Douglas have just produced fareti with a big problem. Most

are services reconnaissance of its

on high- twin-jel bomber in the well over tho mph class.

new

z

This aeroplane, the BB-60A made its Drst fight a few days ago with test pilot George, R. Jansen al the controls.

Is designed for bomber United States Air Force

The

The

the

de Havilland Coinet 1 took the air for the first time on Monday, July 10, for an 85- minute test fight from Hatteld, Hertfordshire. The company's chief test pilot, Group Captain John Cunningham, was at the controls.

The aeroplants were estimated frequency routes, but the trafle to cost £2,800,000 when they

largely

Con- seasonal.

were ordered in May 1948. Brit sequently, although the airline the bill had mounted to

more was sure of being able to fill

han 10 million by June 1950,

can

its new alteraft in the summer fargely thrugh engine develop months, there was Inevitably a ment costs. risk of emply reals in the win- ter. But as the Viscount

When the bulls of two of the operate economically even when Best were hished, their 22,000 only about half the seats are square feet were wrapped in fited, the company decided 10 eight tons of plastic cocoon Ko ahead.

|

more,

the 19 that didn't make

per cent below the highs they interpreted as another indication markets trading for the week Monin

it are now averaging about 10 customary 80-day period was

set in 1962 e 1033."

of his determination to

"Escape clause" recom- Shares of the auto industry with

hampered by sillo

over mendation for additional tariff by alternative supply are also under pressure protection

An means, where possible.-United in the minds of investors. analysis of the short position on Press. the New York Stock Exchange reveals that four of the seven largest positions

were in au

bulo- stacks. The short this week

covering and parked at Calshot,199 25 announced

overlooking Southampto

ton Now the trame returns are

Water, the biggest "parcels" in this showing that

policy was the world. used. In April and May lis services nutracted Viscount

than in the more passengers

In comparable months of 1853. June, the company carried more traffle than last year on all its routes, bul The Viscount

British

Lingus

•

-4$

of

fly at an all-up weight of 145, 1952-68, largely as a result of and other uses in the colonies. 000 tb and to cover stage the new aircraft. lengths of 2,300, miles with re- serves of fuel to allow for diversion due to weather.

物

by the Exchange moved to new 22-year high of 3.047,494. Maje: part of the 224,323-sh:ce incrcase was accounted for by General Electric and Packard.

RE-PURCHASE HOPE

ܕ܂

CHICAGO GRAIN MARKET

rein

34000

*:100

21,100

0000

Bath Mar.

$1,900

290,700

May

18.000

Oct.

July Dec.

1000

150,400

200

40,700

Total

200 $1,200

20,000 1,731,100 boles

NEW YORK FRICÉS

It added, however, that the Consuming markets took advant. age of the setback and in the following day there was a dis-

hotly better tone and

priecā

commission

hardened in spite of consider-

belling

able

by

and so

the bo

May

05 slock

20 calle

Ja sütilles

33.48n

4 bands

31304410

34.00-61

34.87-88

New York: July 28. Prices of cotten futures today agents against imminent arrival closed as follow: from Indonesia. Chicago, July 26,

Trable and factory support on Dec With all deliveries of soybeatis up the 10-cant a bushel datly the other hand has continued,

mit thrqughout the session on the report the Board of Trade Loday, buy statistid position rems to ing spilled over to other grain sound there appears to be little!

being ures and supported them at likelihood for the time

of any rerious recess, the day's best levels.

rubber prices The Singapore were unavailable this morning. LONDON MARKET

London, July 26. The rubber market was quiet with No. 1 Rss spot quoted at 20-9/10 pence per lb. Prices: 20180096 Nettlement, hous term

u

Heplerber

Ouspen

Jan/Mar

Apr./dund

NEW ORLEANS PRÍČES

New Orleans, July '26.-" Prices of cottch futures today closed as follows:

Spot

Det.

Dee.

Mer

May

July

Del

Dr.

Comm. future prico indax

United

34938

New York Sugar Market

Now York, July 28,

: World No. 4 sitgar fufufog (b- day closed 3 to 4 points higher With sales of. 858 tonlriets,

Domesli No. 6 kugar futures cloned i point higher with sales of, 848 contracts.

34.59 2431,92

in

LIVERPOOL MARKET

Liverpool, July 20

Helicopters are too costly

The Increase Jot

In the short vices recorded the largest in and at present unstiftable

The main factor in delive de position means that sellers, hope Aer

fles surveying, spraying and dusting The new Comet 3 airliner 19 creases.

and coin coloniel

to re-purchase at lower levels mand for territories.

Soybean crops in of the Viscounts from Dublin to The House of Commons heard development a logical

and thus make a proft on the futures reflected continued lack a London and Amsterdam: the basle Comer design. 11 hab

Profumo, transaction. This releets

of hidlature over the farm coun- in the longer fuselage than the earlier estimated June traffe on test that from Mr John

slack. growing pessimism

ck. try in the Mid-West, and the by 1,000 Parliamentary Secretary to the

have Auto sales Ministry of Civil Aviation, machine and can accommodate lights was excecded

spurted in official Weather forecast pro up to 78 passengers. Priver is passangers,

rocent weeks, with output ahead mised little no rain during provided by four Rolls-Royce

Airways,

Last year, the next 30 hours. European

Labour member, Mr Norman of retail deliveries. each of which which has put Avon engines,

u humber

Wheat closed up 1 to 3 Doddy had asked why his do- the gap was nine per cent. But gives 10,000 lb of static thrust, Viscounts Into service on its

hid advised the overall stocks stil entidue to cents; boybeans up 10 cents (the and cruising speed will be at international routes,

has found partment

that single-bo

bo a major worry for many auto dally limit).. least 800 mph,

At Winnipeg, wheat was that in the financial year 1963- Colonial Secretary 54 it was able to offer 19 per engined helicopters were unsult-makers, with reports current

for No. 9

General markets, The Comet 3 is designed to contre capally than in able for surveying, crop-spraying that many cars are being sold priced at 183

fre patrols at rådüðid prices. And dusting forest

2017 Northern, and for No. 5, it was

Auriil

· Clodig. pheos; American Lastest developments of the at 160 bonin.

CHICAGO PŘÍČES September

middling cotton, 15/16 inch; 1b qualed week in brist

Chicago, Jaly and creper thick Aut

・Bence per lbs, were as follows: No such advice, said Mr

Publicity linking cancer with Prices per bushel in Genus Aux Brists, crepe, this Aut

United Preb;

31.91 Profumo, had been given. Hell-

Closing Prices

Dec/Jan NEW YORK, MARKET IN

Mar/Apr Ah interesting feature of the

copters, he said, were at pre-rokling appeared to have litt

New York, July 18.my/June 209. costly and less suitable effect on carnings of two major Whost; No, z, red now aircraft is its wing, which

for tobacco comprobacco and its Deci Not salca Spol

Sept. 213(1) 211{13}

Rubber futuren, todný „closed) | July/Aug. follows the haine, déneral design

310-376-34 | 35 10 10 points higher with sales. all the uses

of Americans BBA carried 23 per cent than conventional aircraft, as that of the Comet 2, but has

oh its inter

of cigarettes were Mar Operating single unit sales been enlarged In View of the note passengers

higher in the May socond quite th increased all-up weight The national services in 1963-0 engined helicopters over rugged nine, per chat

Córn, No. 2, follow of this year as appl wing gives improved take on fhah in the preceding year, but terrain, involved risk of

compared

the March forced landing under conditions performailte as compared with hours flown decreased By 14 the Comet 1,

and aircraft miles felices the per cent

pronli by which would, make search and quarter, Net

Tobacco per cont, which gives some rescue operations "difficult and Meyers, landing-sperti,

sochad quitter wore equal to proves the low-nyik haritle of the operational economy expensive."

nahero combered with acteristics. The treasure of is of the turboprop airliner.

the Viscount' Thon: Mr. Dodds toldsale-Proy sucess can be uered from the Much of

whit fact that at the tomar la furter is due to theihofumo, hamparty cold, 12 in the nest quarter. Mean-Fre

When Pest Control. fridi dâne more for the Junë hall of 1954 revhäl Impossible for the wing to, be our Rolls-Royce Barti. stalled during take-off: And that in the was fit put into surveyids in the colonies than that endrally pronta are

As with other 30) highs, the service with British Europeat anyone cae, and that pinkles, 2001

vals, dua „malí "Tajor: Trways it was producing 1,400. engined planes were millable for to

the

new Contek WILL

Bent

into servicem quen to the Bin Laust Bug Reft Boyle (Have NFF

men-

มา

of 131 contracts.

bicist prices för spot cotiáná Investment buying and short ween all udelanged,

beijinal covering accounted for most or SAO PAULO MĀRKET

1975:04, ind: buring power on the far-

mihal mo za While denken, ma

plied the contrade on a 400 UP 13. Cotton

Makket Thistent ch

ch, the -Intest devel

988-Patio-

World futures.

line

ruled steady with the Improved tönu

of the raw, market.

Trade-interests were identi→

fed on both sides of a mod trala trade in the Domestic contract, Future closings Contract No. 4

gebt.

cente bor, 16., tob

Raten

quired for SEBUA Fonuivalent to do obé,

#7766, cumbirut and cruising than the

17.687) abalos)