1954-09-14 — Page 9

Sandys Takes Stock Of British Aviation

£60M Exports

Per Year

THE CHINA, MAIL, TUESDAY, SEPTEMBER

rangos is still very incompleta, and we have to rely to a considerable extent upon experience gained' by trial and error. deal of this can be obtained by trials with small mod-is in wind- The result of these tunnels, wind-tunnel tests, which can be

However, a great

many months of fight terling. supersonic speed Dofecta are revenied and the prototyp: has to be modified and rotested.

"AL some stagO A quantity order is placed, and the manu of the facturere tool-up, order materials air. dis-and go into production, play the Minister of Even when the aircraft start coming off the production line

On the eve Farnborough

Supply, Mr Duncan the task is not ended; for there th

more accurately than is possible

still exacting acceptance trials to be undergone before the new type can be put into service

then mere quickly.

A

cbserved and mures much with an aircraft in fight, show up erodynamic faults in the early design stage, and thereby save time, money and perhaps

late lives. pilots' "The only

trouble is that wind-funnels are very expensive: things and the

power needed to operate them is endemorts. To blow air n moderate supersonic speed through a pipe a few feet wide may very likely require on engine of somewhers and 100.000 horse single wind-tunnel a quite easily cost as much as

Sandys, took stock of are British air achieve- ments and reviewed "All theso various stages are o

essential and none con be future prospects.

skipped. The question Mr Sandys said: whether wo can get through "The Increasing number of overwran ylaltora is evidence of "I have studied this matter in the world-wide interest in the great detall with my technical products of the British Aircraft experts and with leading manu- Industry. The expansion of the facturers As a result I am industry's

activity in the last convinced that the whole process | between 60 few years has been remarkable not

only Inust but слп by Its output

ly today 2 times speeded up. Some time ago greater than it was in 1948. ret myself the target to reduce During the JAITS period the by 18 months, the time needed labour force has

rizen

from develop a new sirevaft anul 145.000 to 230,000, en Increase with your help 1 am sure this of about 60 per cent. This Im- can be done. plier that on the average each There is no simple or single in the Industry is produc-i solution. The problem has to be

Din

A pleture of the first ever formation flight made by a formation of five delta-wing fighter aircraft. are Gloster Javelins all-weather

Photo.

Ing today half as much again as he was in 1948.

"Exports of aircraft and aero- engines arg earning over £80 million a year. New order pre coming in from all over the world at an increasing rate; and the

volume of orders on hand is any time since greater than at The war.

The planes Bghters-Central Presa

tackled from a number of differ- ent ongles.

A power.

£10 million.

"Nevertheless, I can assure you that the heavy expenditure involved will not deter us from going ahead with the provision

TRADE

COMMERCE

VOLLMIS

Page

EASIER CREDIT FACILITIES

American

Businessmen

Hail New

Government Programme

By John Morka

!

New York, Sept. 13. American businessmen hailed Government plans for underwriting a programme of easier credit covering exports of US capital goods and look forward to competing on more equitable terms with Japanese and West European exporters in their bid for a bigger share of the world markets.

The long-awaited plan tentatively revealed in part by the Export- of these and other research Import Bank would extend credits to American exporters on shipments of raw materials, machinery and heavy industrial goods deemed helpful in boosting production.

bral

next makus

technlent

Inculties which are necessary to enable Britain to maintain her position in this van of aeronauti- cal progreEN, "The problem which confronts us 13 This has been wrongly called "the real barrier." There is, of course, no such thing. I would

Le more accurate describe It

it as the problem of "air Friction." It is the problem of heat caused by surface frie- tim between the aftereft and the air through which it is being

forced. As the speed of flight

411

World Cotton

Markets

zome

Fort

اد

Switzerland,

far election within

Canadian Farmers ~Support Britain

Ollaws, Sept. 13.

The Canadian Federation of Agriculture sald today that higher tariffs on Br- tish textiles, would weaken *the ability of Erilain to

bay Canadian farm ducks

· pro-

con-

The warning STRA tained in a brief subralited

Lo the Canadian Tarifi Board, which is investigai- ing the Impact of Brilish preferential tariffa

op

Canada's textile industry. The Canadian Government ordered the Inquiry after the domestlo Industry de- manded a farli increase against competing British textiles.

"Any move by the Canadian Government to increase tariffs against the entry of British textiles would further seriously

impair the already weaken- ed ability of the United Kingdom to make

pur- chases products, Bald.Reuter.

of Canadia

Farm

the Federation

HONGKONG

STOCK EXCHANGE

Credity, according to plans presented I now being formulated, woull be 100 days.

extended for period; up to five

According to the Wall Street years-in some cases for even greater periodsat interest rate Journal. 14 nations. Including of about five per cont.

Britain, The Germany,

France. Export-Import Bank expects to

Japan, Italy, and confine its commitment to co Belgium, have. some form of per cent at the sale price.

government aid for exporters. New York, Sept. 13.

American manufacturers have Recently, The colton market was steady

the Department of today after a shaky start. The for many months been seeking Commerce conducted

A survey Government among American firms for sug- Increases, the friction, and con- market backed and filled over a davistance in meeting the in-

Ingestiona cn How to to responding sequently the heating of the skin narrow

Increase range,

creasingly vigorious competition American exports. One of the of the aircraft, Increases with small orders either way. At an altitude of 40,000 t. heat

Alternate small flurries or from Japanese and West Euro- more Important opinions was

pean countries. It was said that that the US Government talled (From Our Correspondent) begins เป present

hedge acute

and liquidation solling

they have been able to offer to were absorbed by a

American businesses problem at about

help 1,700 miles on

domestic

attractive credit terms-in some along the line followed in other hour. At that speed tempera-

mill and shipper demand, pre-

cases ranging up to ten years) countries. ture of the aircraft's skin would

Bumably against cotton export

in their bid for markets. West be about 180 degrees centigrude. commitinents to Europe.

already made rmany had Local professionals If, therefore, we wish to fly

thought

inroads in South Ameri-" the markets" nt appreciably higher speeds we

technical position

Middle East and Asian shall have to apply

had all

Improved following the

with har aggressive design

decline of almost $2 a bale frota markets conully

credit programine, which minimise air

resistance.

the seasonal highs made after sales

expense of US devise

the Government crop report on chiefly at the sullable methods

and British manufacturers, insulation and develop

Wednesday. structural materiais

capable of withstand- ing much higher temperatures.

"There is another important question affecting aircraft design, about which I would like to say a word.

כין

our in-

of

"I can only mention 41 few of

One of them is tu examples. telescope the development and | production stages to a greater extent than hitherto. For in- lance the risk was taken of wrdering quantity production of the big V-barbers before the This satisfactory

state of first prototypes had flown. affaris is in large measure duc

"You can. of course, overch to the pre-eminent position in this. For, if you go into pro- the world of British aero- duction 100

subsequent modifications may involve costly engines.

"It will think be generally re-tooling and gericus disorgani

"As aircraft gel faster and recognised that British Industry sation. In each case it is a matter faster they call for longer and deserves the lion's share of the of judgment 6s to what riska longer runways. But there is a credit for the extraordinary pro-are justified.

are not limit to the miles of concreto

our cities.

Bron,

These

can,

and

LOSING OUT

STIMULATE

NEW YORK

STOCK

MARKET

Now York, Sept. 19. Strong demand for top- ranking industrial stocks lifted that group to new** quarter-century highs to day in the heaviest trading in two weeks,

Individual gaina: in the in- dustrials ranged to 5% points in the big fentur:-Goodyear Tyre. helped by higher enralrigs. report and optimistle outlook.

Gain of 2% points in Beth- lehem, a point or more each in.. Du

Pont, General Motors, Westhighouse Electric, boosted the Industrial average 3,27 to Ita best level since Oct. 11, 1920.

Balls had an even better per- centage gain. They were up

1.20 on average to their best Although

level in three works.

st well below the 24-year high set an Aug. 3.

The trading pace stepped up cr the upswing, with volume for The

totallin day

2,030,000 shares.

EXPECTATIONS

Market commentatora and the rise was in line with expecta tions after the recent interval of consolidation and heavy, profit- Business done on the Hong-taking in leaders. kong Stock Exchange this morning amounted to $734,306. Noon quotations

the And morning's transactionя: SHARES BUYERS BELLERS SALES BANKS

HIK Bank INSURANCES

EFFORTS

Accordingly, it was felt that the new sld-for-exporters plan would stimulate American sales efforts abroad, at the same time paso additional problems and DOCKS, ETC.

for foreign manu- Pock competition facturers in dollor hungry i- countries.

Estimate exports of raw col· ton from the United States are beginning to cut down the log American manufacturers, on compared with a year ago. The the other hand, claim they have

According New

to present plans. York Cotton Exchange been operating under a compo-

the Export-Import Bank plan' Service Bureau noted the lag titive disadvantage in that they

lo now is only 10 per cent smaller have been losing their business would not apply cansumer then a year ago whereas it was to their

competitors. In moats. Foreign trade circles are running 50 per cent smaller.

official announcement of cases, American bills

waiting are

the first lots of credit. Some Exports to Sept. 7 were re- ported at 181,000 bales vs 234,-

applications are already being. 000 bales at approximately the

processed, it was said, ond ex- porters hope to have a clearer Trading volumes and

indication of the general applien- tion Interests in the Exchange today were:

Open intere

gress of the gas-turbine engitre, cany decisions for there are al- which can be laid down same time last year.

Over the last ten years its weight ways so many unknown factors per lb. of thrust has been halved to contend with, and large sums and its specific fuel consumption of publle money are involved. has been reduced by at least 23

per cent. The latest types of

jet engines produce about six times as inuch thrust as engines

"In the past there has perhaps been a tendency 1 b ave.

"Both herg and in the United States a great deal of attention is being paid to the development of techniques for the vertical or near vertical take-off of winged aircraft,

open

You will have seun of similar diameter ten years lous. But I think many of pictures of American aircraft

will have notleed that our which me eccked up on thek этова attitude tu been

Dec. getting tails and are flown up into the From the rockets. venturesome.

air like

Murth Det Dre Mar

Volume

16,000

146,000

50,500

632,000

29,300

501,400

May July Okl

Total

23.000

570.000

214.000

323,000

10,700

34,100

3,371

47,100 143,300 2,022,200 halus

NEW YORK

agu.

"As we move into supersonic speed ranges, il will become ever steadily more more important 10 increase "There are also other ways of standpoint of convenience and obtained shortening the development comfort this unusual pesture has vbvious disadvantages. For this and

Thrust.

This can bo

elther by increasing the power period. One of these is to order or other reasons, we in Britain and size of engines or by using more prototype or Bh

nicraft and tion

a larger number of smaller and

less powerful units. We believe trials. that one of these approactis practice to will be found to have marked two

for develo are concentrating

to lake IT

normal

rather upon techniques designed to enable Previously it was the tech

vertically order only one or atrerafi

horizontal It sometimes from 31 prototypes. But h happened that the only prototype it is still too soon to arrive at in

in existence was destroyed In a

necessary upward lift is downward facing Por the crash or was grounded for ex- provided by

As a jet streams whose, direction can

advantagea over the other.

Bnal conclusion.

present, therefore we are going tensive ahead on both lines.

"I should also liko to mention the application of gas-turbine engines to helicopters. The free turbine engine with its great flexibility would scom to be thu Ideo) power unit for the helleopter. But there are also other less orthodox methods of applying jet power to helicopters, and some of these look most promising,

"We readily recognise that our Americm friends are at present ahead of the rest of the world Ini piston-engined helicopters. However, all

there

goca

well,

modifications,

World Rubber

Markets

Singapore, Sept. 13. The markel opened better on trade support with sellers re- slearly served and continued

close.

during the day.. Prices attvanced

the towards Future closings were:

Prices of futures closed today slightly Bs follows: Spol Oct

35.34

+

35.25 34.46

Dee.

34.70-70

MULT

Any

33.10-13 13.34

No, 1 rubber per ib.

Sept. Oct.

July

Oct.

33.02

Dec.

33.03

No. 1 rubber per th

Sept.

Nay. No. 2 rubber per 1.

Sept.

78 1/16-703/18 30 5/16-70 5/18 unquoted

NEW ORLEANS Prices of futures closed

as follows:

No, rubber per ib.

Sept.

unbaled.. today Spet rubber

Blanket crepa No 1 pole crepe....

60-70

00%-004%

67:4-08 €0-70% 67-0715 10-30

These could be pro-

Spot

Oct.

Dec

34.15 14.48 3541-12

Mar.

3234

May

34.30

July

34.39

Oct.

34.97

Dec.

34.97

Mor.

35.03

result. development might be be varied to control the angle held up for months on end. of climb.

is in my opinion a good chance that

the more advanced types which we are now developing will amble the British Aircraft Industry in due course to come up into the lead in jet-driven hellcopters, as it has so success. fully done in jot airliners.

The

appearimon at Forn- borough of exciting new projects not unnaturally provokes a sense totoypes and pre-production oir-engines, or, alternatively, by the

The Canberra In' flight.

"If we had had sufficient pro- vided either by small subsidiary

NEW YORK Futures today closed 45 to 50 points higher with sales of 00 contracts.

the undertone

of the Bank programme since these ore inalised.

Union

Provident Wheelook LAND, ETC.- ik Hotel

HK Land

Humphreya

Really UTILITES

Tram

. 1710 1720 5170

P10

22.00

10 1710

14 14.26 1730 @ $4 7.44 7.03

10.47 10.00 5500 a 10.30 3000 or 10.50

00

Ysti Ferry 132

Of a total 1,160 issues traded only 273 were lower while ́643 closed higher. There were 50 nów highs set, only one new tow.

Strong spots in the chemicala included Du Pont, up 14. Allied Chemieni. 4 higher.

There were some good gains in, oil point or so in Cider Service, Guit Oil, Shell, Stan dard of California, Texas Fadoc. 1000 10.70 Land Trust. 2000 4 10.80 14000 10,70 !

1000 10.00

8030101

GO 210 30

100 4 $0.20

Some of the day's few Hofe spots were in recently strong aircrafts. Douglas fell point. General Dynamics,

1

The New York Stack, Ex-

C. Light (0) 15.20 1330 800 or 18.10 change bond volume was $2,-

1000 15.30 349,000, C Light N) 12.20 12.40 1000 12.10

300- 12.20

Electric Telephant

500 12.30 The American Stock Exchange 1500 @ 11.33 volume was 710,000 shares, XD 30% 312 20.50

DOW JONES AVERAGES

Foreign trade clreles here were also enthusiastle over the recent allocation by Foreign Operations Administration chief, Mr Harold INDUSTRIALS

Stassen of at least half of the Cement contract covering focomotive and¦ freight car purchases for India STORES, ETC. to American industry, despite | lower bids from foreign manu- facturers.

HEARTENING

Equally heartening for Ameri- can industry has been the de- cislen by the FOA to take into consideration the higher shipping costs for American bulk com- medity sellers in evaluating bids. The

would FOA

thus put American suppliers on a parity with foreign competitors who are not required to move 60 per cent of their tennage or more. Bids would be allocated on the

The spot market locally ruded basis of the lower landed costs. LIVERPOOL

quiet, with

although buyers and Tire emphasis on gelling US Closing prices, American mid-firmer, dling cotton,

15/16 Inch, in sellers kept around one-quarter Industry a larger share of the multi-billion-dollar foreign aid pence per lb., were as follows:- cent apart,

Spot No.

quoted expenditures involves a change in the "early" concept of "foreign nominally 24% cents a pound.

aid," according to a Govern- Future closings were:

ment official quoted today in the

32.10

31.18

37.31

Oct./Nov.

Dec/Jan

Mar/April

May/June

July/Aug.

32.57-53 33.00

SAO

PAULO

Dec.

Futures closings, in cruzeirea

Mar

May

per kilo were as followsim

July

Oct.

29.00

Sept.

Doc.

21.00

Doe.

Mar.

July

30.30

30.74

28.00

was

LONDON

24.50-10 24.75

24.110

24.35

24.25

24.00b

(in the United States, the The market was very steady average price of 15/13 middling with No. 1. Rajapot quoted at colton at 10 designated spot 20-13/18 bence per lb. Prices:

2014-2011 markets was 34.29 cents a pound. No. 1 Han spot..................

Settlement house term: Sales at these centres totalled 09,092 bales)-United Press.

of impatience about the length craft, we might quite possibly detection of the jet stream of New York Foreign

of time that is taken to get them have got the Swift and Hunter the aircroft's main power units.

into production. This

is quite understandable.

wonder whether CVOT,

There ATC, into service a year carlier.' -

or course, no more than research projects. But good "I can assure you that khis. those lesson has been taken well to progress is being made.

"In conjunction with the

wito expross it are aware of all heart, and that it is now our the complicated processes which accepted policy in oil suitable Ministry of Supply, Rolls-Royce the evolution of a now aircraft, cases to order a substantial batch have constructed a test vehicle particularly a high performance of alreraft for test

type, involves

the case

fying. In embodying this principle. I can

Exchange

Oct.

2014-201

Det./Dec.

203/-201

Jan/Mar,

2012-2011

Apr/June

July/Sept:

Sept. Oct Nov

20-201 General marketa, cit basis, parts

•209-201

Estate crepe thin

England-emchai

New York, Bept. 13,

2.80% uromatal

2.68-2.71 30-day fulunga 90-day fitUTER

}

AMSTERDAM

"First, the Services have to we have ordered no less than 5 14 is really

the characteristics · und | hand-made prototypes and a soro-enging more than on Bouth Afri

define

Australie of the new P. 1. fighter, hardly call an aircraft, for Now plan

with a plot mou

mounted A low

Tons,

payormanca of thó niroraft they batch of 20 production aff-

|| craft for, development.

rials

Jodia

$107

31

Hito

controverfully

or rotors OF BY

this Canadian dollar rate

Spot cla

Future

Want, taking into

to decount what cThe strodynamic problems is technically possible.

"The manufacturers then have of the sound barrier which a few Utted itrolf

to study these specifications and | years ago appeared so formidable, the aid of wine air without

tho

submit preliminary design to the have now been largely solved, kind. It then proscedid fo Ministry of

Who potret In fact, our new P. 1 Agifter circle around under complete

All His other day slipped through control for about ten minutes

thes: choort design Has to be the wound barrier by mistake. and Tout un detail, For a There was such complete fighter this may hivolve of buffeting that: the plot,

Home: 35,000

separato not intended to fly?)

Jow

United:Presë.

landed again without Exchange Rates

new and excitin

drawings and may occupy nearly | sile, douria

that, he git

may well be, t2stit

half moon

tip will iri duo:

man-pkure by to Well beyond Birch 1, without valution In

hent

These

Joompi Preis.

of Commerce.--United

New York Sugar

* Market

3200 W. 31

500 21.80

20.40 3200 20.40 1000 20.20

500

Dalry uno 24:30 24.10 2000 24.40 COTTONS

ENED

1000 of 1.70 MISCELLANEOUS

Allied

1.co

4.0315 407 4009 2 4.

The

1000 4,045

2000 # 4.05

Dow Jones closing averages on Wall Street todas""were, na follows:

30 industriale

|·20 ratis

15.ules

*83” stocks

40 bonds

Comm. futurn. price index

United-Fr

381.10

116,9

Tubeless Tyre

Will Dominate Rubber Market

New York, Sept. 13.

Paul W. Litchfield, Chairman of Goodyear Tyre and Rubber Co., declared that the common auto tyre tube is "on its way out" and that the tubeless tyre will dominate virtually the whole market in another five years.

Mr Litchfield said Goodyear's 'domestic planta nów are devoting one-half of their production to tubeless tyres. Goodyear last month introduced its new tubaloss

· tyre for passenger cars. 2

New York, Sept. 13.

"We will have tubeless tyres World No. 4rugar futures for trucks before the end of closed today unchanged to 2 next year," Mr Litchflold told a polnis lower with sales of 65

new conferemez. No tubeless. contračta, **

tyres for trucks are now in com- mercial uso.

Domestic. No. 8 sugar futures closed 2 points lower with unies of 40 contracts,

Practically all makes of new model autos "wift go over to World futures developed a tubeless tyres the way it-looks Botter, tone on scattered selling now." he said. The market was Arm Prices in a small market. Domestic closed today, in guilders per|faturos esbed with the lower kilogram, CIP, Oct," as follows: raw, basis.

|_ No. 1'rubber No.rubber No.: 3 Tubber

Cerope

buyers Future closings were; Contract No.€ (Worta)

**United' Pres.-

London Foreign

Exchange

CHICAGO GRAIN PRICES

Chicago, Sept. 18. Prices per bushel in cents:

Closing Price Wheat No. t, red

Spot

Sept

Déc

Mar

May

g

He said unit tyre production should show some shrinkage this | Cora,. No, Į year, as

Boot compared with 1933, because of the decrease. In", "car sales.

In reference to private in dustry taking over US Govern mont-owned ynthetic rubbor plants, Mr. Litchfield said: "Wo cannot see sný particular.rezzon for price increase if the pinrits

ard operated at fairly

full

to prodleted that domicile tubbor wil be an increasing im Bortant @bark of bur | bias Trucna land that the 175 will: deed more fkynthetic W plants) by 1080)

United Press.

Sept

FXC.

Mar

May

July

By