1954-09-01 — Page 9

THE CHINA- ·MAIL, ́ WEDNESDAY, SEPTEMBER

1954.

OUR

WEEKLY AVIATION · NEWS

TRADE

The Fairey Gannet anti-submarine alecraft shown above in the prototype of the new T2. an operational trainer. Both are filled with Armstrong Siddeley Double Mamba turboprop engines.-light-Photo.

Two Manufacturers Combine Resources To Make The

P.I

The new British supersonle fighter, the 17, is Lise result of the excellent co-operation existing between English Flecitic and Shart's. English Electric chose the basic design and lay-out and Short's built a research aircraft, the SBS to test the low-spoed characteristica of the new fighter,

Fairey's have produced a version of their Gunnel, called the 7.2. to be used as an operational traber in anti-submarine work,

Below are some more details of the British englars which will be on view at the

of British Aircraft Constructors Display this month at Farnborough.

Society

The new English on Turanle harbour.

Now Shows, the Britanus. The an

that Airwork by That the danger has been driven nouncement Vister water, the Gausel wilt, considering using the Britannia how in a freighter role shows contour

economical this engle la ex- pected to be.

to maintain the free.

ttom of the seas.

The Eland

of cause

engine

the

har the

Electric P fighter pro- totype, which flew for the first time as recently

From countries as far distant as the USA and Australia, new as August 4, has already become the first British, orders for British uero-engler Nupler stand is of interest be-

derivative of it continue to flow in. Some aircraft to exceed the the reasons

chosen these been underlying

to power speed of sound in level orders will be seen at the SBAC Falrey Hatodyne which is likely

This flight.

great row of the outstanding achievement of British hibits. aviation has been made possible by close operation between two leading aircraft facturers.

Co-

Display

it

Below

}

COMMERCE SECTION

British Columbia Anglo-Japanese

A TREMENDOUS SOURCE OF ELECT. POWER

By NORMAN CRUMP (The Sunday Times City Editor)

I am writing in London a few days after my return from Vancouver, but my impressions of British Columbia are still very fresh. The most spectacular thing about this rapidly growing province is its aspects as a source of power.

In this respect the Kitimat-Kemano project has so far captured the imagination of the public. This is only natural, for a string of lakes have been

China Wants Direct Trade Relations

The

In

Berlin, Aug. 31. Chinese diplomat, Mr Chang Kuang-ton, told representatives of the Com- mliten for Encouragement of German Commerce East Beriln Today the Chinese Government would ilko to enter into direct coenomle retations with West Germany.

Mr Chang in commerciai councillor in the Chinese Erabassy in East Berlin. fils statement was publicli- cd by the ofclal Soviet zobe news agency ADN.— France-Presse.

dammed at one end: a ten-mile tunnel has been HONGKONG

bored at the other end, leading down a' 2,600-foot drop to a power station built inside a mountain; and, finally, a transmission-line at Kemano has been carried over further mountains to the Kitimat smelters.

1.

Impressive the seheve ample room for the smeltein and ments are the. must be v ZWIE a large new town. Finally, a in then

prespretive, alway can be built from the Kilmat derives its raw material; main ime at Terrace.

The —stumino--from as far away as head of the valley Jamnich. The reasons why this

hoon for

remble kite was

the

STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong- Kong Stock Exchange this morn- ang amounted to $754,436. Noon

the quotations

morning's transactions:

SHARES BUYERS SELLERS BALES

HANKS

BK Bank Fam Asha

THE FROBISHER PROJECT smelters are Lutar-id. Fust

NixL this

is not

the only the power could be made avail- lege power project In view. able, as described above. Next.

* The Frobishte pinject, mu.h there are deep-water facilities

farther north, has already e at the head fa færd lending to

ceived Government The Neu Then the

approval. Kane more a string of lakes will INSURANCES enough to give the dammed at the baltom cut,, wiłe valley s

ال

World Cotton

Markets

31

whle a new tunnel, leading to the praser

will be bored station, from the top end. Here, upart fis in certain consequential rail- why diversions. Whe main abshelts are politient. The pro- jeet uld be caster, were it not r the crustal

strip. known as The Alayka Panhandle, which beg ngs to the United States. New York, Aug

Then there is room for at least Con futures today took a six dams on the Canadien par breathing spell after a three-day

of the Columbia River.

ronging rise to seasonal high ground.

from the Americen barder up Prices backed and filled within

to the "ig Bend." The Ameri meeting narrower range,

have a dan cans already

Just realising and hedge selling on

jover the border, bul these new upturns above the previous close

duns would help rather thou mich

hinder, because they would give Conversely small declines month-end nill bity Ing asiet

The Amerleurs short covering. Liverpool was

Maren water supply. moderate seller of the

May deliveries OS

MIGHT CONFLICT differences between the 1wo markets continued to narrow. 1 Any thought of power projets selling on the Fraser River might con- fiet with another king British Columbian industry, This is British shing, notably salmon, Columbia pravides 60 per cent af Canada's 4th production, or in less relativy dgures an out- put of $100 million a year

Only a propertion of this, of course. the Fraser River comes from but nevertheless my impression is that this river will be left to the ring industry,

Britain's ploncer we mentioned to be one of

exhelicopters on the city-centre to services of Le which undoubtedly will city-centre itrouse the interest of buyers, future, air staff and airline operators |

The Nomad engine ប

thr throughout the free work.

same stunt will attract atten- the will be hon because I associates. Armstrong Siddeley

the Sapphire 7 advantage of the pistost and Clemons Dating

Canberra

gas turbine manu- jel, in

ying est

types in one unit. bed. The name Sapphire covers | Consequently li has outstanding- a series of engines, not just one jly low fuel consumption, making for freighter engine, and the S7 is a major it highly suitable step towards higher thrust. Itor maritime reconnaissance air-and

that the is noteworthy

Arst craft. British fully supersonie fighter, the P. is equipped with two Suppliers. The Sapphire & des livers 8,300 lb. statte thrust Engines of the Sapphire line are installed in two US Bghters and in the Coubertus which ure

rvice with the USAF Aircraft Sapphire Show with

One of these manufacturers, Shor''s, a pioneer firm with history as old as British avia- tion. The other, English Electric, which made flying-bouts in the first World War,

a recent entrant into the Beld of fighter design. When English Electric had chosen the busle design and lay-out of the P.1. Short's built B.5 A rerearea

츠

wrath the abrerafi

In

1

10 test the low-speed char- engines are the hater 2, the

acteristics

and the huge

of the new Aghter.Japen. The result is that with all its a Valean bombers

supersonle ability. the is

sul fully

responsive

the

controls at approach and land-

ing speeds.

to

The S.B.5 has been designed Text varying degrees of sweep-back of the wings ond

its after

appearance

the

SBAC Display in September it will be flying with 69" of sweep. This is a greater angle than is nt present used by any other British alreraft.

☆

two

Intelligence reports credit the Sovic:

Beal mubmarine

with thon is German being larger

In either of counterpart recent world wors, which lends significance to the fist fight of a new anti-submarine tralher. This aircraft is a version of the Fairey Gannet, and is called

has

A

Victor

The Bristol Acmplane Corne,

the will be pany

showing

Alvis ronides Although the

hox previously Majur engine powered a helicopter flying at the SBAC Display, in 1854 for the first time the Alvis

the

statle

hedge

Evidence +1 overhanging the market abeve the 34.70-cra: lind for Decembra, plus the large southern spol sobering Ktand market sales, bind

will effect on new buyer interest Trading volumes and open

the Exchange today

Volume Open terv

exhibition show a complete Leonides Major helicopter unit. This engine isterosis in used for the Bristol 173, which will be in the flying programme. on the Westlund 5,55.

were: Month

Cet

199,200

231,409

72,200

05.100

ML!

47,800

511,400

In the fixed-wing category, the highly promising Handley-July Page design for a DC-3 reploer- ment type aircraft will also be powered by the Leonides Major.

Alay

41.900

450,000

22.000

205.800

Ori

B.th

Der

6,000

35 100

Tulat

20,100

สม 2.211.000 bales

NEW YORK

in cents per lb. as (3llows;

S101

Oct

14.10

Deg

Mar

May

July

Oct.

Due

1

Now that America's first 10.-) Olympus jet engine, for which engined transport aeroplane has a licence has been purchased by flown, US airline pilots are go- Wright Aeroatien) Corporation | ing in school to learn about jeis. the USA. This was the first Their teachers are jet pilots of

the United States Air Force. British two-spool engine.

and

has been chosen for the produc- Rated 1.on Vulcan bombers,

B. thrust is 9,750

ft will be in the flying programme seen installed in a Canberra lest bed,

A USAF base in Georgia the airline mon are getting.

021 Jet- 10-hour flying course engined aeroplanes and a series of lectures.

☆

Prices at futures closed today

24.200

NEW ORLEANS

24.15

35. 01

13.7

34.00 4 S

Another great

more

175

JA 195

Jeste

PIA

Underwriter SHOPPING

Watertat

DOCKS, ETC K Wharf Dock

7 90 10

71

21 20

Payments

Agreement

London, Aug. 31. . British and Japanese officials will begin private talks here on September 7 to review the Anglo-Japanese sterling payments agreement of January 29, 1950, an authoritative source said to- day.

The source said that the officials would examine Japan's current sterling paymenta situation, how trade had been flowing since January and the prospects for the rest of this year.

The officials will also discuss likely to be headed by Me Takro Japan's payments position with Oda, new Minister in London the other countries and parts of He is expected to by nasisteul sterling area, of which by aferobe And experts from Brünin is the banker

Tokyo. The source

1 thr

(at the a

"The British delegation will Scpurnber discussions wound, include Treasury ofetals and Only be in the nature In the discussions are expected to review and

nol now negoliu- las up to about a fortnight...

China Mali Special

گری

Several sterling payments

• reviews have been site ม. tween the two governments in avern! post-war years.

TERMINATHIN

Article Rine of the Angl Japagsese agreement stiparinte

that it will termitage uities both contereting parties agree in Preember 11

the contrary this year

Britain and Jupau ure, agreed that

there should be formu#] consultation

between the two

NEW YORK

STOCK

MARKET

New York. Aug. 31. The Stock Market closed governfociis of their agents on the month of August with the progress of the agreement

90.71t

They are also ngreed that one of its sharpest declines their representatives could meet of the year. cutting at short notice which may be $2,000,000,000 from valua- given by either party to discuss tions despite 要 Inte sub. any aspect of the development stantial rally.

payments relationship 200 29.30 between the two countries which may appear to cali for special consideration.

500 22

100 21.10 | Provident 10:14 10 14 30 400 e 11 10

2500 t 14 201 1500 + 14.30 500714 20 1000 or 1.65 3000 730

Wheelock

LAND, ETC

1K tutel

HIK Land Humphreys Henity

UTILITIES

705

11 10 11 20

2004 11 30

500 u 11 30

150 001 M :

11.20

197

of the

NEW MINISTER

Activity picked up as prices felt 2 or 3 points to the days lows, forcing reporting tickers to

fall behind doar transactions.

Volume continued heavy no The fource salt the offers the rally, however, and tickers talks may is the dates of the

ran late twire ugain with prices. expected negotiations on the Arming, Turnover for the day future of the present agreement, totalled 2,640,000 shares, most

The

since August 17, compared with delegation tes Japanese next month's consultations 1,650.000 yesterday

དཱ༥

World Rubber

Markets

Singapore, Aug. 31.

opened lower in Overseas advices. *ghtly above the lowral level of the day. Future eb singe

The market djpunting 27

2 10 2 12'

Tran

LP 110

30 0 19 10

2000

Star Ferry

119

even

Yaurati

Ferry

155

137 500 T

200 130

© Light (0 + 1590

14 1700 ∞ 13.00

300 151

Light +N+ 12.00 Electri

Telephone

INDUSTRIALS

Cerem

Rupe

STORES ETU

Day

13 1000

13

471,

zi 27 40 124

1900

2300

It

B

26 78 30 3500 20 10

2001 1912

No 1 rube

Wats

24.00 23 1500 25 1700

at Du 10 A 10

N,

771050

No 4

In

COTTONA

Textle Coru 6u5 MISCELLANEOUS

Yangtze

Blanket eripe

No

Drepe, pale

$14

150

A w

Alliet..

4 $21,425 30

5.00 4.05 $25

HARDEST HIT

Aircraft

0115. the

stocks, lec|8, rails were hores bit in shakenut winch commentators said reflected mostly technical considerations, following as it

di pendy 得 year atvance.

steady

Experts said the French turn- down on EDC gave the tradinit element as excuse to sell, while

Was decline

accelerated the when it ran into stop-loss orders, In turn, buying orders placed below the market were enright of the lows and helped bring prices Seg: 67%67, up a point or more in the late Oct 17.61 rally. Nov quated No 2 rubber per ih Sept No 3

.Ib ויאן

Spot rubber unboled

NEW YORK

57-71

widest

Aircrafts we'e the 01-011 inovers and most active, Boeing.

0532-0174

the day's most active issue, sold 0755-812 0912-045% off more than 2 points at its low, 70-80

North closed at $5832. off 1%. American Aviation, off 19%, foi- lowed in the active list,

Futures closed today 20 points | 415 lower to 15 points higher withi

sales of 118 contracts

industry British Columbia is lumber, in- cluding pulp and paper. 1 <no at the raw-mills of virited

Blocdel, and MacMillan Vancouver company with great possibilit cs. areas

Vancouver of ferest on Island, and they told me some- |

the Government's thing about incthods of canticl. In brief, the Government are ready to

a lumber company

"They have large New York Sugar dealer

grant a

تے

an e

Market

New York, Aug. 31. World No.

Switching operations between

interests dominated mixed terminal market trade.

The

of

widening discount September in relation to Decon ber way coupled with the slow interest in the spot trke

month.

4 sugar futures

The spot market ruled quiet Prices of futures closed todayditional arra, but this is subject closed today i point higher to a ኮን rigid control over the points lower with sales of 242

and steady with spot No. 1 Rss amount cut each year, and also contracts

Domestic No. 6 sugar

cents, Future futures quoted as "stum- to a royalty known

point closings: the closed unchanged to As In Ontario, роде

lower with sales of 26 object is to see that cutting is balanced by new growth,

as follows:

Spot

Orl

Dec.

Mar

May

July

Oct

Dee.

34 23 3430-40 34.67-68

34.P 35,470

35.30

34.20

34.721

"TANK-FARM"

Rolls-Royce will be exhibil- ing the Avon jet engine which Is rapidly becoming one of the in the most widely used jets world. The SBAC Display will in the new see this engine flying Canberra H.8 and the P.R.7, the the de Havilland Gypsy Queen

LIVERPOOL Hunter F.1, D.H. 110, 525, Swift engines of the Dove feeder-

Closing prices, American cot-outside liner has been stepped up, with 10, 16/1 inch, in pence per lb. of the trans-mountain eil pipe- F. Valiant and Comet 2 and 3. it is being manufactured under official approval, by 200 hours was follows: licence In Australia, Belgium, France and Sweden. As install-

The

Time between overhauls of

lo 1,000 OUTS.

May/June

July 'Aug.

+

32.25-20 32.19

in

12.25

TV 24

37.13

Oct/Nov the T.2. It is an operational

Dec/Jan. trainer, and, like the Gannet 1. ed in the Comict 3 if develops

The Dove, a twin-engined Mar/Apr. an Armstrong Siddeley

10,000 lb. thrust without reheat, eight-senter, in the most widely Double Mamba turboprop en

British used

civil Aircraft.

Oficial prices for spul gine which gives it long range

rocket Several hundred have been sold include: Super Sprite

Havilland to and substantial disposable load. motor made by de

amali airlines

Egyptian and privato

Karnak good/fully/good but this owners in America. will again be shown,

Giza 30, The T.2 hos seats in tandem,

year for the first time I will

Ashmounl the front with the pupil in

American middling 'cockpit and his instructor be-

hind him, but still forward

Peruvian Tanguis the leading edge, This makes

engine. the downward view remark-SELE

East African N. 8. mechanism, parachute, ably good, a point of great im-tanding shock-absorber.”

SAO PAULO Future piston- portance in carrier operations.

closing prices, ordered cruzeiros per kilo, were as

of picte

be exhibited as unit for drop- It is one of these acroplanes, in ping after take-off. The com- RAF colours (and the RAF call

equipment

consists of

it the Devon) that Prince Philip container, dropping uses as als personal transport

and

ne:cplanc.

DO.

The Douglas During the past year, develop-engined airliners Just The 7.2 is intended for duties ment of the engine has increased by Pan-American Airways fór which include not only anti-its thrust to 4,200 lb., (4,000 in delivery, in 1950 should give submarine handling and tactics, 1953), and total impulse is 120, but also training in armaments, 000 lb. per second. Duration is engine-handling,

instru- and ment-flying. It can also be used for communications,

The Gannet 7.3 will be ex-

hibited in the flying programme

40 seconds.

regular non-stop services be- tween New York and London.

The DC.7 fleat are costing PAA over £11 million. They passengers and will carry ba cruise at 305 mph and can cover 5,000 miles without stopping for The Rolls-Royce Dart, which petrol. Tho Connet 1 is already in will be shown, is widely known

Pan-American have ordered with the Royal Navy, because it powers the Viscount.

at the SBAC Display.

pervice

ark has been ordered by the An Indiention of Its economy in three British Comet III Jet- Royal Austrellan Navy, it hat operation is that it has also been enginn liners for delivery

undergone tests In Canada, and is under ment consideration

vices.

"

two designs,

aircraft.

DC-3 replace- the same year. the Aviation

These like BOAC

New York sorvico.

Aeroplano Com-

Comet for foreign Ser-Traders Accountant and a Dutch 111s will operate the London- But though the Comet cruisen,

lows:

Oct.

Dec

Mar.

May

July

13/18th inch

I also visited the "ank-farm" Vancouver, at the end

con- tracts.

September liquidation In-1

of 167 cident to the Issuance delivery notices dominated thei world contract.

Sept. Dec

Mar

Sept.

were

Domestic futures featureless in line with the quietį raw markot. Future closings:

Contract No. 4 (world)

Oct.

line. This is being extended to Ferndale, Just over the border

of Washington Sept. the

State Here there is Lernporary nag"

a competition between Jan. and new, has

Fo low July brought freight-rates that Venezuelan 47.35 that 42.05 delivered at Femme

Ferndale

cotton

Intense

tankers.

40.33 which

delivered 33.16

nick

can

Mar. MAY

23 Ve at

LONDON

The market was steadier with No. 1 spot Rss quoted at 20% pence per tb. Prices:

Settlement house 'term:"

It pol

STEELS LOWER Steels also were sharply lower US Steel dropper' Bethlehem 1.

i and pelve

off 3% polcis. Du Pont waS Allied 2% points in the chemi- co's, Standard Oil (N. J.) lost points, Hall losses ranged in

points in Santa Fe. of 1,108 issues traded, were

lower. 133 higher. The New

833

Ex- York Stock change bend volume wi & $3,000,000,

Stock

The American

Ex-

change volume WAR 400,000

23.15 23.70

$9.00

shares.

23.07

24.00

DOW JONES AVERAGES

24.00

New York, Aug. 31. Dow-Jones closing averages un

Wall Street were as follows- 30 radustrial 20 rails

155.00

112.43

15 tilties

40.11

65 stocks

125.00

3.17

3.20

2014-2016

bonda

1400.05

Comm. future price index

172.79

Oct.

20-201

-United Press.

3.16 Jan/Ma

3.16 Oct./Dec.

2014-201

2011-2012

3.0 July/Sept.

Apr June

20%-2012

20-2014

637

Bept.

5.42

1925-26-1/18

3.45 Oct,

107-20-1/14

Nov.

3.30

19-20-1/112

6.60

ante crepe thick

5.00

thin

AMSTERDAM

unquntert 239

Chiengo, Aug. 81.

Clowing

Prices

Wheat, No. 2, fed--

Spot

21294-213

by Spot-scents per ib. fob Cubar oil

Contract No. G at prices Nov. undercut An

Albertus oll Mar.,

the trans-

May **** July

then either } Nov. persists,

must cut Spot-fcents per ib. cif NY

'ex-duty).

*United" Press. their prices or they must con- Incentrate more on sales to Eastern Canada. In any event the pipe- not yet working at

Tth Inch 39.20 mountain pipe-line, If this dis-sept. 1-1/16th incis booo hortan producers

30.40

fol-

27.40

20.65 28.00 26.80

20.20

capacity,

Merino Wool

Tops Market

These are only a few aspects of British Columbia. It is also an agricultural province, al- (In the United States the though it has to import some of

Bradford, Aug. 31. Merino wool tops have been average price of 15/16 middling food. Its secondary Industries

and these will hurriedly marited down in view colton at 10 spot markets was are developing, 34.25 cents por 10. Sales at these woon include metals, plastics and of the fall in raw wool Merino petro-chemicals. It has de-prices at the opening of the centres totalled 30,380 bales,) t United Press.

openings for British goods, auctions in Sydney. The Austra

nile

If only because it is theaper to ilan decline amounted to about 1 thip frem Liverpool to shilling per lb. (clean). Bradford Vancouver than to send goods had expected something of the

rem

Exchange Rates The other hand, 1 heard decided to get in step.

General markets, cil bars, ports:

CHICAGO GRAIN

PRICES

The market was quiet. Prices Bept, 2144) 21291) closed

today in guilders per Dee kilogram, CIF, Sept, as follows: Mar.

No. 1 rubber

May 1.05 nom. July

20214

No. 1 rubber

Liza nam. Corn, No. 2, yellow

No. 3 rubber

1.52. nom.

No. 1 crepe

2.20 nom.

Spot

United Prerk

Eept.

1-100 -100

Dec.

Mar.

May

July

NEW YORK WOOL Hys

pepi.

TOPS, MARKET

Dec.

Oate

New York, Aug. 31.

Sept.

Prices in

Oct.

Jah,

cente

Sept

· 103.09 NY.

Jan.

192.00 Mar.

May-

100.00 Julf

Wool, tops closed today 4 to 10 Boybeans, No. 2, yellow points lower. by rail from Eastern Canada.. sort but makers of wool tops per lb. were: O

that

Quotations have opened the | Dec., British fl:má do not Duiinom was done in the locat

Exchange market, this fuso sumcient care in selecting week thus nomin

104 pence per lb, Mar, morning at the following rates: agents or in providing adequate V.B. Holter (per 643-004Y

sorvicing or stocks glering notes (per £1)

1.10 parts. This is a pity, for British tedly Indonesian rupiahs (per-100) Barn, ticate (per 100) 36 EHUISM, PARMEEKs. (per 100)

30.73

2740 Columbla between

It is worth rocalling that in The Bristol 1040 another Fairey aircraft, pany will show's Proteus,' ofat 500 mph it will not have the the Swordfish, crippled the ❘ the type which powers he rangé to: fly, non-stop Italian Best In one Devastating "largest ... sivil, migcenti da sta - the dvd allied,

TOW HA!

of spare

'60'a „super

May

July

b-bid aa

FR1BL 190.8 not. 188.0b 150. traded 194.50

United Fri,

109,00

105.00 133,

Barley,

Spot.

New York hour

300 16.

12013

1321