1954-08-17 — Page 9

OUR WEEKLY AVIATION NEWS

the elongated nose The Armstrong Whliworth NF-11 night fighter in fight showing containing radar equipment, the frontal fuel tank under the fuselage, one of the four 20 m/m cannons outboard of the engine and the Meteor B type tall unit.

Demonstration Of Civil Aircraft At Farnborough

This week we give a few more details of the new British supersonic Aghter, the P.I made by English Electric. The Under Secretary of State for Air has requested that the P.I reach the Royal Air Force as soon as possible and it is therefore probable that the plane will be in full production in near-record time.

British Company, are providing the answer to the DC-3 problem Aviation Traders. with their turboprop Accountant.

Royal Canadian Air Force and the A new type of polish has been adopted by the United States Air Force for use on the outside of their fighter planes.

munist terrorists as an observa- tion, communications and am- low,

is intended for operations

'Bush' territory. to akis

The English Electric PJ. Britain's first fully supersonic interceptor fighter, made its first flight from the Ministry of Supply Aeroplane and Armament Experimen- the SBAC who attend the Dis- tal Establishment, Bos- will

Pepe, flying for the first time] combe Down, on August 4.

On its first flight the Pi, was Commander flown by Wing Beamont, English Electric's chief test pilot. The flight of the Pl is significant in that it opens up a new era in British avia-

floats as required. The guests of

also see the Short operate

wing

This

the wing combines necessary sweep-back for high- excellent tight with spced control and stability character istics.

THE CHINA MAIL, TUESDAY, AUGUST 17, 1954,

in

TRADE

COMMERCE SECTIO

Experts State American Malaya Government

Recession Has Hit Bottom

By John Morka

New York, Aug. 16.

Many American business leaders and experts wore willing to say publicly this week that the mild recession of 1953-54 apparently had hit its bottom and that American business" should slowly improve for the rest of the year.

This, of course, is good news for the rest of the world, for an economically strong America is important to world stability, but it must be noted that the recession in America did not affect other nations. Noted one business magazine: "It disapproved the saying that if America sneezes, the rest of the world gets pneumonia.'

However, an economically-improving America will be a better market for imports, and thus the optimism in American circles will be welcomed by European, South American and Far Eastern businessmen.

"Following decline that, buying, and in mid-July the rartled industrial production steel Industry was operating at} down around ten per cant from 66 per cent of capacity. Out- the port war peak of last year put of steel in the first #ix and the economy is levelling

months totalled about 44 million off," reported the First National tone, nearly one-fourth less than Bank

of Boston in its New for the same period of 1953, England Letter on Business, "It

But construction work is at a f::

a scasonally

record high of 314 billion

i likely that, on

Edjurted basis, the low poin dollars in July, which in 5

per cent better than a year ago, and soon this will be reflected in steel orders.

can

out

a

Swedes Want Reserve Bank Requirements

Stockholm, Aug. 10. The Swedish Bank In. spectorate has asked the Government to Include stricter reservo require- ment in the bank tow which is at present being drafted. It proposes that they be raised from three per cent to four per cent oblica- of a bank's total Lions, and from 20 per cent to 25 per cent of its short- term obligations,

The Inspectorate stated in its report that as a re- muit of the Inflationary Irend deposits over 100,000 crowns, which represented 40 per cent of total bank deposits in 1949, had now rizen to 55 per

cent.

De- posits of over one million 20.8 represented crownin per cent at the end of 1949 and 40.2 per cent at the end of 1953--China Mail Special.

Sponsoring Cocoa Production

Kuala Lumpur, Aug, 16.

This rich rubber and tin peninsula is sceking to make cocon production a third major industry. The Government ía sponsoring experi- ments because it is concerned at the possible effect on the natural rubber industry of American synthetic rubber production.

A soil survey team will leave Kuala Lumpur soon with tents, equipment and four months' food supply to search for suitable sites for cocoa growing on Malaya's East coast.

Their research work will be done in the wilds of Trengganu, n state fringed by deep jungles on its west side and the Chinn Sea on the cost.

The survey team's task is to And granite derived soil and virgin forest land with not too much sun and hot loo much shade.

World Cotton Markets

New York, Aug. 10. Cotton futures today stagedia This latest survey is one mall smart recovery after a mixed part of a research pattern which start. started seven years ago. Its alm In spasmodically active Is to give Mainya a third major dealings, the list scored gains industry which in a few years up to around $1 a bale us a re- time may help to solve a world turn of hot and dry weather, cool tempera- country the badly needed income tures, revived fears of crop of over $200,000,000 (more than deterioration. £23,000,000) every year.

NEW YORK shortage of cocon and give the after a week of

STOCK

MARKET

New York, Aug. 16, Oll shares sparked a rise in stocks today which added another billion dollars to the

the recession has been passed."

We have had our recession in the past twelve months but we have hit bottom and started is see Jaylight

And the magazine Business agulti." said Paul

that steel the Week points Jamieson, president of the

increase even National Industrial Stores Asso-Operations clation, represchting 1,000 com- without any rise of orders. The

It explains, is this: 1) pany stores. that is, retall

suming Industries note stores owned by huge industrial concelos in smit cities in ducts and they order less steel: selling-off and lifted prices concorns in coal, steel, lumber drop in demand for their pro-recovery since last week's which the single factory or steel milla curtail oprations and

near their quarter-century MINERS RECOVER users use their inventories; 3) highs once again,

business "An uptuin in reach the industrial the coal communities in the last

year," few months of the

ht "The

re- miners havo said. covered from the initial hysteria of lay-offs and short weeks. They have

Industry is the basic factor.

of

should store's In

work- become

use

their backlogy; 2)-Steel

And so the industry is simply to maintain current output, steel mills get new orders and output rises.

ELSEWHERE

Bank

the

50

with the RAF

to carry two 14 h.p. in | enough service Mulaya, where it is performing cars In a freighter role. magnificent work against Com- The initial

of the

Industrials, with the big gains Accountant will be remarkably

in olls and in tending chemicals, It has been estimated at

steels, tires, and host of buiance aircraft. The Beaver £87,500, which is approximate-

special issues, were 2.97 higher in ly half the price of a foreign the Canadian

session and than the previous competitor. Where good landing

highest since Oct. 41, 1920. or and take-off characteristics are and is convertible

Elsewhere in the US economy: required, the Accountant will

Ralls rose bo cents on average The trend toward mergers of All the bill-It wil be able to

to lower accustomed

Income, important companies continued almost as blg a gain percent- from any aérodrome now used by DC-3s. The first have cleaned up on their bilik as. Bethlehem Steel Corporation age wise and were near their are ready and Youngstown Sheet & Tube highs since Oct. 4, 1930. Utilities in public with its acro-isoclinte production aircraft, it is hoped, and it looks like they to start buying again.

Company officials inspected each improved 2 ernts, setting now will be ready for delivery

The outlook is bright and it other's properties, and in New top since July 6, 1931. 1950

can be made brighter," said US York there were continuing talic

Volume continued heavy, with Like the DC-3, it will be a Secretary

Mir between officers of Commerce Sinclair Weeks, revealing that Exchange Bank and the Chemi- turnover for the day of 27,700,000 low-wing, twin-engined design. This layout has been

administration cal the Eisenhower chosen

Trust,

The shares, compared with 2,600,000 and

on Friday. partly because of the simplaca- wants to help business along

Youngstown Bethlehem-Yo

merger would tion of servicing which resulta. by mercasing both the letter of

- ba an obviously good It will be possible to lower the contracts and actual government mavo for both. It would open

the undercarriage under

in-

the July-September the Chicago area to Bethlehtm spending in of the An Indication

im-luence of Aravity

and drag

quarter.

and the castern area to Youngs- stood out the need arise, of helicopters is that alone, should

Lown, portonco

and the aircraft will have twin four types will be shown this

wheels

with

toe-operated your. From Bristol there will be The P. Is powered by wo

the

which

brakes, which are independently Sycamore IV, Sapphire Amstrong Slideley

both Austra piped being exported to An order jet engines.

for n

The

of economics lin and Belgium, and the 173, pre-production series of twenty

Arcountant hundred are being

will compare of which # aircraft has already been pinced

with the figures of for the British services. favourably

Calculating on the by the Ministry of Supply, and this will result in a significant The Sara Skeeter, of which two the DC-3.

will busts of 2.000 hours utilisation shown, will be marks

a year, stage length 020 nules, demonstrate one conception of

288 mph. speed the private owner's aircraft of and cruising

two-sont the minimum cost per sent mile the future light

Is given by the

company whitch can fly from 1.04d. Clearly this is a remark- helicopter.

of a business man's ably low figure for such an up- the lawn country house.

lo-date pircraft.

Back in 1050, British Euro- The only conventional in this year's civit show is the pean Airways used a certain Percival Pembroke communica- | polish to clean the interiors of tions aircraft,

The pollsh Is now in sorvico their aircraft.

tion.

The English Electric Bghter is the first British air- craft which has been designed to be fully supermonie in level

bull

Receleration of the test pro- gramme, by allowing various dem festa to be carried out simultano- ously.

When the Under Scereturý of State for Air nnnounced the Ere-production order 11 the he raid. House of Commony,

importan

It

that this aircraft should reach at the the Royal Air Force earliest possible date, and that the disappointment and delays that have hitherto boset should, so far as potalble, Avoided."

twin

the

ng

with the Belgian Air Forco. The made by a British company, Pembroke has been ordered in Valuy Industries Limited, which quantity by the Swedish Gov-will be exhibiting for the first bernment, as well as the RAF. ime at this year's SBAC Dis-

In the multi-engined class the play. BEA were sufficiently im smallest aircraft will be the pressed by the polish to docide DJI.

a foeder-liner | io try It on the exterior of 'an which is

and the result In demand aircraft, abrond.

Turkey has more than satisfactory. announced her intention purchase #ferens, and soon the British Joint Services Mission will be flying the first Heron

As the P is bull by the company which produced the Canberra jet bomber, it is not unduly optimistic to hope that

it will prove to be one of the world's most advanced aghters Canberra

to

was

In the USA. The de Havilland A member of the King's exhibits will be completed by Flight, as it was then called, that the the Comets 2 and 3, represent saw the BEA acroplane with its was the first foreigning the latest ideas in really highly polished exterior, and at once realised its importance to jet bomber ever to be adopted fast passenger transport. „ining / the royal Flight, which has to for the USAF, and that it still Tho turboprop,

with

speed,

HONGKONG

STOCK EXCHANGE

in

The

HOTELS BOUGHT

3

better

wered

wire of the crop 10.

At the close the list ruled T Lecal and overseas economists to 18. points higher. The market have frequently urged the opened off 3 to up 5 points. Malayin Government to And New Orleans closed up it to of new industries so that Malaya7 points, is not completely dependent on A Loreenat for widely scatter- rubber, which is threatened by ed showers in Texns tonight American synthetle production, and

Interests buying can be bought carous in face and tin, which from countries neurer Europe. Government

During the past seven years survey to be experimental cocon plots have morrow.

Forelyn necmints and domes- the east coast has the type of accredited buyers of the near- been planted in many parts of Malaya. It is now known that the milis interests were soll likely to yield the richest by months, absorbing scatter- crop, for cocoa will not grow cd hedge selling some of which in ground where rubber. irces

was credited to Mexican have grown and the west coast count, Commission is where Malaya's rubber in brokers and local interests werd

house dustry

is concentrated.--China | prominent buyers in the later Mail Special.

months,

Trading volume and

World Rubber

Markets

interests in the

open Exchange to

day were:

Month

Volume

Open interart

Oct.

240,000

294.100

Doc.

30,500

353,400

Mar.

12,000

450,000

Mxy

6,400

404.700

July

4,700

179,300

Oct

5.000

Dec.

4,000

25.100

Total

01.000

1,973,300 bales

NEW YORK PRICES

Singapore, Aug. 16. A bearish rubber

market persisted throughout the week

New York, Aug. and operators have been easily

Prices of cotton futures closed Influenced by any news which today as follows: could be construed as such, said Spot

33.20 the weekly report of Holiday Oct. .and

Company Cutler Bath Limited.

port says London was the only market buying regularly from that support Singapore and of

from elsewhere was very spas- modic.

Dee.. Mar.

May

The rubber brokering firm ro-

July

Oct.

14.01

Dee,

NEW ORLEANS PRICES

New Orleans, Aug. 16, Prices of cotton futures closed

today na follows:

At

Spot

Oct,

Dec.

Mar

Мау

July

Ocí.

Dec.

94,72

14.02

LIVERPOOL PRICES

Liverpool, Aug, 18. Prices of

futures. American middling, 15/16 inch, closed in pence per ib, as follows:

Oct/Nov.

cotton

31.00

Dec./Jum

31.03

Mar/Apr.

31.60

May/June

31.86

July/Aug.

31.78

Official prices for spot cottons

Sao Paulo. Aur it. Prices of cotton futures closed today in cruzeiros per kilo ng

23,80

26.40

20.00

26.10

STANDARDS RISE

Standard Oit Company (N.J.) as the day's most STEEL LEADERS

rising 3 spectacular feature, Steel seemed certain to ba

of a Petrol stocks

US points to $954 on talk

Alock among the leaders in the upturn dropped 1,504,000 barrels in the possible stock split or

although no matter what happens in the week ended Aug. 0 and stood at dividend,

company industry. Sicel operations slack- 150,808,000 barrels, it was re-officials denied

knowledge Pil:0 ened because of vacation shut- ported by the American

Any such news in the making. total downs and recent over-ordering jeum Institute. The

on Market commentaters ascribed

It says news from the United due in part 10 strike-hedge | hand Was somo 15 million the drength in oils largely to

barrels above the stock held in a firming price situation, re- States that existing strikes

there factaries flecting

might the same week a year ago.

Inventory rubber

spread also assisted in the 'gen- position.

from Aside

Jersey Cities erol recession.

A silght recovery In New York Hard on the heels of Conrad Service gained 3 points and

with contlaued support from Lon- points

in High-priced Hiltons acquisition of the Statler 34 Holel chain, the Sheraton Cor- Amerado, 2 points in the Texas con made for an improvement on Thursday but operators were poration of America bought the Pacific Land Trust,

sill hesitant and buying was Allied Chemical jumped more Blackstone swank 400-room

account of trade mainly on now than 3 points. now Hotel in Chicago, and

covering and some factory en Hilton Hotels and Sheraton both US Steel ran up paint and

quiry. hotels. However, Youngstown control 20

SINGAPORE MarkET Business done on the Hong-Hiltons chain, totals about 30,000 points to feature their group.

Bethlehem improved point. kong Stock Exchange

rooms and Sheraton 20,500. this

After opening steady on some Total shipments of rayon and morning amounted to $559,742. Noon quotations and the morn-

A 2-point rise in People's Gas covering eased on lack of sup- acciato

Alament yarn and staple ing's transactions:

domcatle producers in July helped lift the utility average. port. The markte: steadied in the afternoon on further cover- totalled 88,900,000 pounds, There was a a long list of in-

to Textile Organon, dividual features-Douglas, uping and sellers more reserved. statistical bulletin of the Texullo 114 in a steady alrerad roup: Future closings: Economics

Inc. Rayon Bureau,

Texas Gu

Gulf up 1 and Jefferson No. 1 rubber per 1b. Sept. 6521-00

Oct. 581-0015 shipments Lake, up 14 in the Suphurs. yarn Underwrlier 7.00 8.20 2000 o 1.904gh tenacity

this July were

Nov. unguoted follows: 20,900,000 White Sewing Machine, how-

No. 2 rubber per lb. Sept. 05/2-659) pounds,

15 per cent under June ever, declined on a lower earn-

No. 5 and 48 per cent below the higning statement. Robbin Mills, oft No.

the textiles was pot rubber unbaled ..... July 1953 shipments of 33,300,000 1% points in

Blanket crepe pounds. Producers stock at the one of the few wide losses. Out No. 3 pale rese

nd of July rose to 16,700,000 of 1,228 issues traded, only 339

were lower, 647 higher, pounds,

(From Our Correspondent)

SHARES BUYERS BELLERS SALES BANKS

BKC Dursic 1710 $720

零件

East Asia 20180

INSURANCES

Union .............. 900

K. Whart

1000

2

SHIPPING

Wata:bost

20.40

DOCKS, ETC.

72 w

400

21.00

12 2600

100 73

21.89

170 7.50 1000

500 e 13.50 2000 1.50

19

Dock

Provident

(010), Wheelock

LAND, ETC.

11 Hotel 10.00 10.10 3230,6 19,50 10.8G

JK Land

by

RAYON SHIPMENTS

of

Sheet and Tube 1%

Rails generally were higher.

1000 to 20 intermediate tenacity yarn last New York Sugar

600 60 month were 18.000.000 pounds,

Der

Humphrey 19236 19.40 500 je 19.30 Resily UTILITIES

3 per cent above June and 8 *** 2.10 2,10 2000 3.219 cent below. July 1953. Acelate

Tram

Star Ferry

Market

holds the World rocard in its

will

be set a standard of above-average class for the Allanile crossing. economy

between shown in the Vickers Viscount mariness. Accordingly in 1981. Its average speed

The the aircraft of the King's Flight and and the Bristol Britannia. Newfoundland, Gander,

Viscount

is breaking records began fying with a new gleam One of those Aldergrove, Northern Ireland,

speed and popularity on their wings. was 605,6 mph on its record for

planes visited the Royal Cana- wherever it is in service, while Breaking flight,

Luffenham, where the Canadians The design of the P.1, which the Britannia has already been dan Air Force station at North

ordered for Australia And

decided that they too is perhaps the most advanced Canada as

Quickly well

BOAC.

C. Light (of £8.00 16.10 2000 15.90 and 2 per cent under the month day of its kind in the Negotiations for the sale of wanted this type of polish. world, required the use of the Britannias are in progress with in 1952 Valby Industries began supplying the RCAF #quadrons most modern test equipament, other international operators.

for their in the UK with polish high-speed fighters. The faster an aircraft les the more Im- portant it is to reduce its strog

aircraft

This equipment was

end constructed by the company and included a transonic wind

tunnel, which was the first of

its kind to be built in England.

These test facilities played

☆

The question of replacements to a minimum, and a good finish for the DC-3s now in com- on ile external, surfaces plays use in large numbers an important part in reducing

drag.

Before long a fighter squadron

19.30 230 @ 39,710 yarn shipped in the most recent month amounted to 39,000,000 Yol Fury 151 300 142 pounds, 8 per cent under Juno

C. Light (N) 42.00 10.10

Кис 24

Telephone INDUSTRIALS

Cement

STORES, ETC.

Dairy Watson

largo part in the design of the mercial sircraft from its enrilest stages all over the world is becoming and will be of equal importance more and more urgent. Many of the USAF in England had in lie future development.

of the DC-3# now in service As last year, one of the are ten years old, and some of scene the Canadian fighters with TONS private days at the SBAC Die- these die yooman service. In their new polish and had de play will be devoted to the World War 2. The size of the cided to

The "use it: loo; demonstration of civil

aeromarket can be judged from American fighters soph" spread planes. There is a diverso list the fact that

of the doctrine of the new polish of types to be shown, ranging these alycraft

will operating to other American bases in Aigle runs well into four figures, Germany Trance and North Airlow and now all the USAT, peed Comet 3.se, British company, Aviation base inveure using 18

ta from the small Auster

Trainer to the

the number

006 19-2314

2005 Fri

F

634-6334

82}}+03 51-62 NEW YORK MARKET

Now York, Aug. 16. Rubber futures today closed

and

were all unchanged.

Oct. Dec. Mar.

May July

BAO PAULO PRICES

(In the United States. the average price of 15/16 middling". at 10 designated spot marketi was 34.08 cents a bâle. Sales at these centres totalled 30,002 boles.)United Press,

CHICAGO GRAIN PRICES

to 10 points lower with sales of 61 contracts.

Prices drifted Irregularly lower in quiet dealings in which dealers hedgo

seiting liquidating others redominated.

Tho

dull, spot market ruled reflecting the strike-bound con

of dition

two leading rubber. companies plus the lower Lon- What No. x, rea đơn cables and the anticipation

Spot

Chicago, Aur.. 10,

Cloning Prices

· Prices: per bushel in: centru

New York, Aug. 16. World No. 4' sugar futures to- closed unchanged to a ***** points higher with males of 153. of. July, 1953.

Contracts. shipments Acetate staple July

Domestic No, d sugar cutures this year were 6,100,000 pounds,

morrow, 273027 1400 87.60 16 per cent under June and 12 closed 2 points lower with sates of the Indonesian holiday to-Root, siách) 210%(L))"

Spot No. 1 Rue were quoted at way per cent below July of last year.

import of rayon staple during dealers, awaited developments in 22% cents, nominal, Prices: Juno, the Orgahon

tho raw market on the appear Sopt.

20.40 0.80

25.30

600 16.00 8:00

of 180 contracts, |--

Both markets ruled oulet as

amounted to 2,047,000 pounds once of some other, incentives.

61, Der

cent over An increase of

Future closingaz (sana the previous month, but 7. per contract, No. 4 (weeld) cent below the April Imports Sept.

of 8,159,000 pounds For the 90.

of 1954, rayon

moni

Holy tolalied. / 120f". Viny

per Corresponding period of 1953.

Exchange Rates 21-

parti we a

was done urohar han

(Thörning. Aty the followi

In the single-engined, fixod. Traders, has now given some The compang, setims the, that 80 bootar (sar 31) wing category (ie Pioneer and more details of its answer to per centical ite turarver at pre- Beaver in addition to the the problem. Thin: la the manh Ẩn in heedi drzwiOY, BUSIA Alulet Trainer, will be demon turboprop powered Accountans, the first, eleito um psa HIE strated. The Pioneer is in AD Godhorntont - 12-Jantar-

Organon notes that my

mon-Cellulosie TRU

Dec.

Mar.

Sept.

Deo

Mar

Corn, 'No, *, yallaw

Sept.

23.31

Mar

May

Sent.

„AMSTERDAM MARKET:

Amsterdam, Aug 18,

The rubber market was enky) Prices closed today In qulidbra per kilogram, CIF, Sept, as fol

No rubber

・erepa

nited' Press

"Notes: The London Fishbar prices = 100 Eser 'sacti