1954-08-10 — Page 9

躞

OUR

WEEKLY AVIATION NEWS

THE CHINA MAIL, TUESDAY, AUGUST 10, 1954.

The illustration is of one of the first of the series production Pembroke aircraft being built for the Royal Air Force at Percival's factory at Luton, Bedfordshire, England.

Air

The Pembroke is developed from the Series III Civil Prince and Sea Prince T.MK.1. The Pembroke C.Mk.I has the fuselage of the Prince and the floor in stressed for 18 Instead of g. Provision is made for two crew and eight passengers, the passenger seats being rearward facing.

The Pembroke has the long nose, a characteristic of the Seu Prince and the wing span in 640 (19.66 m.) an increase of 8' 0" over the 60' (11.07 m.) span of the earlier Cleil

Royal Prince, Survey Prince and Fleet Air Arm Sea Prince, Normal functions of the Force Pembroke in addition to passenger carrying are six built-in stretcher points for casually points for evacuation, harness attachment for parachuting supplies and equipment. Babing freighting and a fuel system adapted to take a 100 gall. (682 lities) fuselage tank for long vanne ferrying. Full dual controls and synthelle amber screens for day and night flying practice may be fitted for twin-engine pilot conversion and training,

This versatile transport may also be adapted for training navigators and bomb aimers,

carrying. freighting. A elvil development of the Pembroke in envisaged for passenger air ambulance and aerial survey and photography and also as an executive transport.

In addition to quantity production orders placed for the Royal Air Force, the Pembroke has also been ordered by the Royal Belgian Air Force and the Southern Rhodesian Air Force. -Percival Aircraft Limited Photograph.

Latest Version Of

America's

B.47

Nears Sound Barrier

Although the Infest version of the B.47 was not fat out, according to the test pilot, the plane nearly crashed the sound barrier. The B.47 is going into full production for the United Blaten Air Force.

Shell in constructing a new oll installation In Cheshire to produce "Isa-peutane" an important constituent in aviation petrol,

A town of 60,000 in Canada now has its own airport which can accommodate flying- boats or land planes.

Below are some of the new aircraft which will be seen at Farnborough next month when the annual air show takes place,

A

States Air squadron service

Stankowy

1

below.

TRADE and

U.S. Oil Industry Welcomes

Iran Settlement

By John Morka

New York, Aug. 8.

The American oil industry welcomed the announcement today that a settlement had been reached on the three-year-old controversy between Britain and Iran over the nationallsed properties of the Anglo-Iranian Oil Company,

At the same time the American oil experts discounted the possibility of any serious effect on US production and marketing schedules arising

COMMERCE

EXPORT-IMPORT BANK BILL

Washington Aur. D. President Eisenhower to-

day signed into law a bill Increasing by $900,000,000 the lending authority of the Export-Import Bank and designed to

bank

of

give the mate Independence operation

than

it had had In the past.

The measiro created a five-man Board of Directors with full authority over lending policies of the Bank

Two members will be the Bank's President and Vice- President, boll to be named

President by the with the consent of the Senale. The Bank's new lending authority is $5,000,- 000,000.-Reuter.

from the expected re-entry of Iranian oil on world HONGKONG

markets over the next three years.

STOCK EXCHANGE

SECTION

Europe Will Miss American

Aid To France

London, Aug. 9.

France's immediate problems after the Indo- China truce are only too obvious. Immediately she stands to lose some of her easiest export markets.and some important overseas assets. Her biggest headache is the possible loss of dollar sid., Direct and indirect US aid to France this year is estimated at $1,400 million, of which nearly $1,000 million was for Indo-China.

them from France, mainly aid to France has been provid

its disappearance would be nate carzłage in French ship?, blow to all Europe, ft has und freight charges to be not incant dollars in the European less than 7 per cent of the system: other countries, par-value of the goods. Except for ticularly Britain. have been this element of dog discrimina- able to earn large amounts of tion, which is resented, dollar

France has ing Europe with through the EPU; bern able to add part of convertibility.

reserves-about

She

some useful

THE COST

M. Mendes-France's economic policy is to reconstruct France by using the resources released China drain.

The US oil industry, not being agreement wall be of great an exporter of oil, will not have beneft" to Iran, oil-producing to cut back on its production Paliona and the free world. because of the reactivilation of Standard Oll Company (New

to her [them Jeunion refineries. For the past Jersey) foresaw the return f

$300 million m the past year. three years th: D5 has been on framan oll to the world market

has been using part of her improver of petroleum. 01 x- in an orderly manner and on a poils here also dount the effret basis which appears to be com-

(From Our Correspondent) dalin uld to selle her sterling deflelt; she has been better off of lam's ell on prices Le crudemeretally practical. oil In the US witere over- The stock market canthued

Business done on the Hong. for dollars than for sterlink. by the ending ot the Indo- However, as credit in the production has resulted in heavy bullish this week,

kong Stock Exchange this mon- EPU may be worth 100 per cent bunyod in entres and part by continued high divident in amounted to $209,300. Ndollors to France, while debita cumulation

instances some

quotations depressed payments, Reports on 428 com-

and the morning's

in the EPU cost other countries prices on some products,

panies In 20 major industries transactions: It is pointed out that little or showed that corporate profits i SHARES BUYERS SELLERS GALER

only 50 per cent dollars, none of Iran's output will be The second quarter of this year HK Bank .. 1050

CONVERSION Imported to the US, especially were almost an a level with the In view of the somewhat glutted booming quarter Inst year.

INSURANCES

Union

France is able to convert market prevailing for some National City Bank survey

Undersenters

European currencies into dollar months now. Furthermore, there 600 corporations given combined is strong pressure from Ameri- net

goods in much the same way as the past year the US has been incomes after

Britnin dict during the nine bearing about four-th the can all producers suggesting to $3,888,000,000, an burense of

day'a experiment

other fifth. that France restrict by quota or by tariT | two per cent over the Best half

1952.

been carrying, represents boosts the flow of Imported oil. I of 1953.

pay Coal producers--joined by coal mining unlons-have

|

forses with domestic proteste" E

lo meet

In urging Congres restrictions on oil imports. Over 20 various bills are now lending in Congress along these lines. Accordingly, it was emphasised, was little chance that

there American operations--both from the standpoint of price and dis- tribution-would bo seriously affected by the Anglo-Iranian settlement.

membera of

AGREEMENT HAILED Two Americas

eight-company consortium will revive Iran's oll Industry under the new agree- ment hailed the settlement. The Texas Compray said the

installation, It is not yet possible to give the version of, the new new

which full list of all the aircraft provided we can keep up the n America's B.47 medium now of crude eii from Amirin, which are likely to be on view RAF can be sure of its at Farnborough, but the flying bomber, a jet plane that the

war-thine. supplies even in

programme is outlined has been in United Until recently the U.K. con- It will start this year with a Forcented more petroleum products demonstration of the Pembroke were available Lamond Heron feeder-liners, both for eling-crea refinet:s, so a of which are being delivered in the balance had to be purchesed purchasers nbroad. Simul- with dollars. But as crude oil nenusly two flying lest-beds, available from non-dollar sources, an increase in Britain's engine refining capacity

stema the drain on muir dollar resources. The new Staulow plant make Briinin's

four years, has own over a 157 mile course at an average speed 622 miles an hour.

of

Its The

high

direction.

☆

contribution

prosperity

An interesting.

will

to

the Ambassador with Proteus

the

Varsity anch

the Eland, will

Powered

سودا

take the air.

Then there will be a display this i of light sisule-engined machines sirable for communications, executive

and training duties, as well as private flying. The Beaver, Provost, Aiglet Trainer this and Flonter will Ry In group.

{10

Military aircraft wil

follow

At the height at which plane was lying-35,000 feet this is only a few miles an hour less than the speed of sound.

Yet test pilot Rodney Randati slates that the engines were considerably below opertain maxinaun power.

sidelight Designed for use as a spe: J. leng range repeanaltrance the importance of air transport

the civil planes, to demonstrate plane as well us for bombing, In Canada is shed by the news

and perform into

Ontario. Lig that Kingstan

the high spoed now This plane is going

Service municipal at the Beer has its own]

airport aree hieved by the mente produciloğ

-although the present populn. aireraft of today. Three Can- plants,

tion

of the pity is only

bombers,

with fly Kingston is situated

different engines, a Sex Hawk, thousand. half-way between Montreal and funter, a Meteor, a Gannet Toronto, about a hundred miles ta

and Baillot will all be shown which south of Ottawa where the St. in the short space Afteen

of mecis Lake minutes. is an important constituent of Lawrence River

The plant is Ontario.

The city in expanding aviation petrol.

and being bullt for Shell. and rapleliy,

as the St. Law- diue to begin operating early rence sen-way programme takes shape, further development of Kingston is experied.

At Stanlow, in Cheshire, new oil installation Is being built. It will be the first plant

United Kingdom produce "so-pentane",

is

tho

in 1966.

a

£

berra

cach

The turn of the helicopters comes next. A group composed of the Stamore, Bristol ITS. Jet Gyrodyne, and two Skeeters An unusual featute of Ring-will be demonstrated. ston Airport is that it can be used by seaplanes flying-boa

or landplanes. The aerodrome

is on the shores of the lake, and

is equipped with fucilities imhandiing marine aircraft.

for

л

Finally

140

of its

LONDON

STOCK MARKET

London, Aug. 9.

stock 52083-

the the

taxes

EXTREMELY MIXED

A

Bao

BOCKS, ETC.

10

131 70

i 30

of

K Wort

Duck Pravide

Wuceback

1377, 1000 60 7.43 1000 7.40

11 10

LAND. ETC

A UK Hote

lal 11 10 1400

2000 11

11

200

5016

39 40 19.00

1

211 Land

Humphreys

F The

showing 15 extremely mixed. the bank noted, both among different industries and minong individual companies in the same Industry. Abou 52 Really per cent of the reporting com-UTILITIES panies had increasts, against 47

pc

cunt with decreases

5072

20 à cet

2.07, 2.15 1

Train XE

£0.00

Ferry

Y'all Perry

140 50

300 10.70 500 M 19.64

i 183 10, 20, 50 in 1000... 28

Light (N) 12.90 12,10 Elempie

stocks/INDUSTRIALS

Cement Rope

337 $3000 731)

100 @ 33

TỪ 200 ĐÃ BỊ GỌ

Maca *Telephone

11

#4.00 24.90

000 10

Watson

ANA

23 7075.00

13.00

17

1300

Cash dividend reached the re- card total of almost $3,000,000.. 000 went to owners of common shares listed on the New York Stock Exchange in the first half of this year, it was revealed. A totni of 824 of the Exchange's

common 1,070 listed ranked among the dividend

Alrerafis led

bigger the dividend payers on an industry. STORES, ETC. wide basis. The 10 common Dairy stocks

Kroup raised i dividends 77.3 per cent over the

first half of 1953. For 33 paper COTTONS and

publishing common stocks, dividends gained 20 per cent while 21 electricni equipment Rock showed

crs.

In this

gain of 21.f

p: crat. On 2 basin, the utility industry 12

cul

Textiles

1400

200 100

MISCELLANEOUS

Yangtze Allied

370

40755 35 3000 sr

raturat es iseurs and win New their shake-wors a total $473,083,690. .

CONSTRUCTION

19

Construction activity climbed

Big event markets day was

anal opening rise Iranian shares-up some shillings on

Irresistible an demand

followed by almost equally sensational pront- taking which converted that rise of 24 shillings into a gain at Most the clts of only 7 0.

D

410

Unlike Japan. similar shunting. not try to charge

of

August

sources, since Intely the Ameri

Ostensibly. it releases no re-

cans have been paying all such costs of the Indo-Chinn war an are now terminable.

Over the whole course of the war France has borne aboul tour-fifths of lia cost. But in

other costs which will st

of her regular army

who is doing

France does n

a premium the dollar no longer commands

appreciable prensiums European currencies,

But on- tike Britain. who imposed no conditions, France does stipul

has

the

and

But such calculations tre ton narrow. against almost certainly

Release from the mental and psychological burden of tho should release French energies lamentable Indo-Chinn wor

which

worth good money.

L#

likely

World Cotton

Markets

New York, Aug. 9.

A large-than-expected Gov-

Dollar ald to France

to be

be tapered off, not cut off. The Americans themselves do !not

not talk of cutting it off. They think their commitments will be much the same as during

the

war,

Indo-China changes,only in direction.

with Ro- de-

feat for the free world, they do

garding Indo-China as a

erament crop estimate dropped not want to let it turn into prices sharply today In active rout-Chinn Mail Special,

dealings.

Opening prices were Arm,

with most early Trading in-

volving evening-up of commit- NEW YORK

ments prior to the Government, crop report at 11 am

York Sugar Tower.

Market

New York, Aug. 9.

with sales f 160

ពត

STOCK

MARKET

New York, Aug 0. Profit-inking prevailed in the

to

the

At the close, prices ruled 23 {c 10 points lower. Opened lower to 8 higher. New Orleans: potion futures finished 28 to 38

Following the report for which the Exchange suspended calings for 20 minutes-press dropped to a range of 2 to 28 of Anglo-to a monikly record of $3,513,- World No. 4 sugar futures to painis lower, compared with a 2 stock market today for tho

points higher 24 000,000 in July to pace o gener-day clowed 4 points higher to 1 to 13

range be fourth session in a row, tem- ally favourable economie figure, paint lower

tart

the announcement, as 38 pered, however, by a strong alt- Government agencies

points or $1.90, a baie. Brokers craft group and a share drop in reported contracts.

reported Construction has been the only Domestle No. 0 sugar futures; also

increased delivity. business activity to do better closed unchanged to 2

volume of hedges in the market, points

Trading Trading volums and open in lowest pace in two weeks as consistently this year than last, higher. Improved price trends

lightened ather economic activities In the world and domestic rawi terests in the Exchange today have

between

Traders hesitated in view of the les may

markets been

brought short covering were: year's record

especially in prosp:rity and and buying.

the Month the levels of second £10

65

The domestle Dec. best year nearby deliveries. Lod Friday's close ct of 1952. The new record brought refined market remained quiet. £15 29 d.

the total for such expenditures Burmah

Pakistan is reparted to be in followed the

to a whopping $20,130,000,000, the market

tons of for 45,000 pattern through on amore about $558,000,000 above medest

the refined sugar and purchases are Dec. scale. Opening at £5 same period in boom year 1953, expected to be made before mid- Tola) 28 Od a riso, since Friday of Inventories cropped over week. 10s 61 and elesing at 065 0d.

$2,100,000,000 during the Thus ended the all Industry's month period and personal in- short - covering

short-lived comme domination

about $700,000,000 the London Stocks more than in the first half of Je Exchange. Royal Dutch gained last year.

These favourable | Mar. developments

May July Spot-cents per lb. fob Cuba) 3.1 Öpen interest; 3,464 contracte, Contract No.

closing price at £15 10s00%

a the with an opening of

of

was

were

a modest one-eighth sterling to business 40% sterling and Shell Transport game:ally laterprted as further cne of is Angle-Dzyplan "B" Indications that the business up. eased 25 6d.

swing has about set in.

Elsewhere buyers were rather daunted by the sharp reverzal in Anglo-Iranian.

eighth.

Future closings: Contract No. 4 (world) Sept.

3.18 3.19

Sept.

Nay,

Mar.

May

July

Sept.

Oci,

Volume Open interest | sharp break last week. Turn-

Over

25.000

295,000

38,200 $32,100

Mar.

12,000

430,700

Dlay

20,300

382,100

Jatty

#400

168.300

Del.

6.300 3.200

83.200 20,700

121,000 1,000,000 unles

LIVERPOOL MARKET

Liverpool, Aug. 9. Closing pricea, American 3.10-20 middling cotton, 15/16 inch, in pence per lb., were as follows:--

Uct/Nov.

Dec/Jan:

2,280,000 shares com-

pared with better-than-8,000,000 shares totals in lịch of the three preceding sessions.

Aircrafts stood out throughout the aesion with gains ranging to 4 points In Boeing.

A

few other special frauen had wide gains--General Dy- ramies, up 1; Sperry, up 43% on a good earnings statejneri: 348 Corn Exchange Bank Trust up 21.81

31.79

Mar/Apr.

Mey/June.

0.50

July/Aug.

5.61

Official prices for apet cottons, included:

0.45

5.40

5.50

Egypte KarTION,

5.01

3.01

today. The proposed merger New York Rubber

4 points on word that the com- pany has received a merge offer from Chemical Bank.

Chrysler Corp., whose dividend American micheling 15/18th inch 33.17

14th foch 3932 | and, sharp lower onrnings precipitated the heavy profit- taking fast week, continúed to

another 40,00 weaken, falling

1 ir points to 8575%.

42.30

Giza food/fully/good 47.50 Amount Peruvian Tangula, good 13/10th

inch Mexiese middling 1-132nd inch 31.07

Others were unchanged.

As a component of aviation petrol. "iso-pentane" Ja portant because of Ita high

will there

be in- In order to give notice to octane rating and favourable

of demonstrations

MILD PICK UP pilot that he is nearing the top dividual

Despite a mild plek up in the This ensures vapour pressure.

sures speed stainable by his aircraft, Britain's latest civil and mill-

British Government's had n that the fuel vaporises effici-

textile industry, conditions were will has tary aircraft. The public ently in extremes of tempern Teddington Controls Ltd,

little selling but it lowered Old not so favourable. Meanwhile Nov. V-bombers, Consols and new Instrument

three im developed a ture a point of obvious

"Dalton" by one- the trend toward consolidation Spot-cents per ib. elf NY switch called a Mach

and Vulcan, fourth and War Loan by one- which Valiant, Victor

ex.duly) bomber.

continued! to

for portance

by major companies operates a warning device when The Valiant is already begin-

Open interest: 9,444 contracts which may have to

this week as the example,

second big United Press. a pre- ring to the aircraft approaches

be delivered to the take off frum

Bluc temperate determined Mach number. The RAF to complement the equip quiet and mostly unchanged a month

chip industrials were three-way textile merger within

moved a step closer climate like that of England,

heavy bember and land in the heat of a North switch is operated by forces ment

United Press. and squadrons. African summer at a desert proportional to the pilot

stalle pressures, serodrome.

and it will give warning of any speed The newest marks of Comet CHICAGO GRAIN The The new plant will have desired between 8 M and 1.5 will be demonstrated, and this what belleved to

18

PRICES be the M (one and a half umes the wil be the first public appear-

pany with both sales and assets tallest column of its kind speed of sound).

ance of the Comist · J. The

Chicago, Aug. §. of around $200,000,000. It would the world, towering 200 fest

striking

belwcon differances

Prices per bushel in cents:

wool, colton and into the air. It will cost in the

Closing produce Comet) and 2 will readily ap- | ;,

5 to 14 points lower with sales synthetic fabrics. will

Groundwork region of £500,000, and

parent in the air;,:

for the three-way merger Wheat, No. 2," sed

war of 20.contracts, make an important contribution towards making the Staniow

laid yesterday when American Bapt. 21031) 2014(K),

Woation directors at a special reflecting the holidays in Sing-0c meeting here approved two pro- apore and Indonesia.

The

refinery one of tho most versatile in the country, output of Stanlow is approxi- a year, mately 6,000,000 tons nearly half the total capacity

of the Sholl complex in Bri- toin,

1

*Pricen

2001&n

time

Anti-submarine and experi- Rre

Corn, No. 2, yellow

pot Bapt. Ther MAT. Mpy

1081 1001-1:

The RAF's Arst jet trainer Spot

Called the will be displayed.

pec. The swiich can be made to

with tho aircraft's Jet Provost, this aircraft bids | Mar. May connect controls, so that the plane alters fair to revolutioniso - training trim when the pre-determined methods by reducing the

renched. It weighs spent by pilots under instrue- pooed is

and less than a pound,

will tibns operate at temperatures varying advantage from minus 40 C (as cold ar

the which will result from production of aviation poural the coldest Moscow mental aircraft will be put.

their paces, anuk, the components in this country lies winter) to plus 70 Centigrade, through In its effect on our

The new instrument denotes yet Display will end with fighters Oats importa

ability to Sept. from abroad. Formerly I was another step forward towards exhibiting their

defend Britain ogninsta Soybeans, No. 2, Yello to Import similar safer flying. material to "leb-pentane" to This year there will be a even at iprode wireringe

Here, par make the special blend needed record number of exhibitors at pood of sound.

One considerable

necessary

for aviation Betrol components, the SBAC Display, which is due formaroos will be given by the V

In the event of war, this would 19 take pikce at Tarzsborough, afknter, Swift, 325, and Diftion have made 11 mord say for an Hampshire, in September, ist The Disprly will end wILE onemy to achieve the grounding Alembers of the Sdelety (com cenobition

of the RAF by overrunning waredćwith 244 in 1988) •40-{{k}15@{{{ukowitscary/HR JANETTEndlity of. FZ600

refineries in the Middle fart. | ekhibling their products for:all the RAF now's Hut by using planta, much P# [the world to gas,

facioded American Woolen Co., Textron, Inc. and Robins Mills, Inc. Such consolidation would form a highly, diversined

com.

posals designed to affect the consolidation. In July, Burling-

Market

New York, Aug. 9. Rubber futures today, closed

The

market was very quiet

In the spot market, No. 1 Ras was quoted nominally at 23

SAO PAULO PRICES

30.50

Sao Paulo, Aug. B Prices of ection futures closed In cruzeiro per kilo ha follow

Oct

Doc.

Mar.

MAY

|

Oila

were

fumong the soft spots. Pan American Petroleum lost 2% polnía.

Monemnto and. Du Pont each fell a point in the chemicais. Goodrich lost 11⁄2 pointe, Good- 5.00year in the tyres.

33.90

20.00 120.50

in the United Blates, the average price of 18/10 middling edtion as 10

Volume centred in low-priced Oliver Corp., which ran up 1% des ansted apk meleta was 31.09 points in the day's most delive banner en totaled trading. Boeing, Grumman and

Chrysler followed in, order,

balem)—Untied. Pres.

NEW YORK PRICES

New York, Aug 0 Prices of cotton futures today clored, as follows: 23.40 Spot

ton Mills Corp, the world's cents a pound, unchanged from largest textile concern, bequired Friday. Futare closings: control of Fabric Mills.

Sept. Inc.,

Dec, end Goodall-Sanford, Inc., by Mar

the merging three companies' May would Improve their competitive position in the Industry because

of a more diversified Ine

cent

Sept.

of

products," "Textron owns 45 por

of American A

Woollens

23.06

common stocks, diving it wok Exchange Rates

·ing control of ^ the nation's

| largest <wpollen", "ang, worsted

company. Textron makes.combhpliciat

od and esrard cotton, fabrics and

[în tits 1 plants Rosols Sill

Out of 1,10) insten.traded, 824 were lower, 410 higher, with 44′′ at new highs only four, at naw lows.

The New York Stock Exchange 23.99.34.00 bond volume was $3,452,000.

28.000

34.84

NEW ORLEAND PRICES Salts Now Orleans, Aug. 9/

Prices of cotton futures today

done in the local alased, as follows:

The American Stock Ex« change volume wn: 630,000 shares.

V DOW JONES AVERAGE. Butun og New York: Aug, 0.

Dow Jones closing averagės on Wall Street today We follow

la ullitter

12) Común, «fitgi