1954-10-05 — Page 9

THE CHINA MAIL, TUESDAY, OCTOBER

Radio devices developed for the control of the Jindivik pilotless aircraft are so well advanced that this smail-scate plane can be faunched, manoeuvred in flat to almulate an enemy aircraft and landed again without incident. Intricate controls are built into this robot and it can be controlled either from the ground or by a "khepherd" aircraft that takes over after the Jindivik is dying. It can fly faster than any known let bomber. Central Press

Photo.

WINGED ROCKET

BOMBERS

OF THE FUTURE

Thought-provoking time Mr Kel-Lucas, or they 20 per cent above

midable

V-bombers on

stowing

so that the

more

VORCE SECTION

AMERICAN ECONOMY

Improved Sales And Profits Now Expected

By John Marks

New York, Oct. 3. United States businessmen faced the fourth quarter generally confident that the bottom of the month's long business recession has now been reached and that the tempo of activity would quicken in the next three months.

With the summer doldrums a matter of the

past, they looked ahead to improved sales, profits and good earnings records by the year-end.

Underlying this overall confidence has been the steady and stabilising behaviour of basic economic indicators in recent months.

For the fourth consecutive, month, the Federal Reserve Board index of industrial pro- Cuctivity had held steady. The

drop

consumer

forced to close down unless they can obtain supplies in the future.

such 49

the

Jap Economic Mission Prospefts

Moscow, Del 4.

The Japanese economia mission now visiting the UBER expressed the opinion here tonight that the prospects for dovtel- Japanese trade exchanges WITH good.

Speaking at a proms con- ference oraalsed joinity by, the visiting delegatloris or Japan, India and Burma,

the Japaneso spokesman

said Japan was particularly interested in Soviet, wood products and coke.

Burma's spokesman, U Th

Feb, mid his ponniry was - interested *, in the import of consumer pro- and agricultura! machinery-France-Presso.

World Cotton

Markets

New York, Oct. 4. Cotton futures today back tracked for the fourth session in | a row, undergoing losses of moro than $1 a bale,

that orders and retail sales are at. if industrial ac and steel verni. of 3 to 6 points. Tho market -

tramc

The

.

cases, In a large number of In employment appears to have leveiled off somewhat; however, commodity prices ap

A spurt of October ilquida- income continues pear to be Improving in

tion brought additional pressure less

erratic: now strong and

expectation of a higher level of at the close, with the finishing than last

cation, textiles year's higher

points. ua not

other items for opened off 5 to 18

Aerease in late boom Construction continues to Among

have armed: Steel inventory correction con-

apd tinues unabated and new orders products, aluminium parts, lum-crop for machinery have

ber, Un plate, lead, zinc, brass accumulation of hedge selling picked

orders, plus scattered liquidation Much the same confident tone and bronze fngols, WON found

the

guaranty One disappointing trend at kept prices on a retreat. Trust Company of New York, in the start of the fourth quarter Fint of the private crop sur- its

business review. It the continued declino pt veys today, issued prior to the

PGovernment

on Friday, report spending for new plast and showed e rise of 628,000 bales Raid:

esti- haps,

tquipment, Government

last year's must be swept back about 80, level. Thus our forecast of unmanned a very narrow delto. outlines

The the Viscounts would bring

for in 10

per cent rocket bombers, which, swept-wing can be useful

fuel

the

proved unduly conservative." whereas day largely straight wing, due to may one

its thin-

The Viscount has hit an un- supersede the

for-ness, is not. With either plan expected airpocket in America- manned form if at take-off would be difficulties put up by the US. almculties Civil Aviation Authority which pour. view at here would be the same as for issues certificates for planes to

the low-level bomber.

operate. the S.B.A.C. Display

These difoullies are causing behind-the-SCENES early last month, have been drawn by Davidj Keith-Lucas, Chief De- signer of Short Brothers and Harland, in a paper read before an expert audience in London.

All of these problems make

would be to

concern

Capital Airlines, the American company which has 40 Viscounts on crd from Vickers and option on 20 more.

en

that two

its Viscount

For they would mean the expendable, pliatiess bomu- Capital will have to cut er attractive. But with no crew; passengers from could it be navigated accurately load. And that would upset the enough? One possible but ex- economics of the business,

system pensive

The hitch is highly technical,

effect of temperatures hat side-on engines. Here it is

An orgine give less power as the temperature increases.

ค

the

by

up

per-

Wiekend

whether activity going to pick up or whether mates place the fourth-quarter in the crop prospects during the will continue to drift sideways, outlays at almost three per cent month at September. But apparently they do not below the estimated rate for the Crop experts revealed that the third quarter about twice as murvey indicated the Oct. 1 yield worry a great deal ovér

large as the

estimated decline at 12,752,000 bales, up 920,000 possibility of a near-term

to the third barles from the Government sumption of the earlier decline, from the second

quarter.

Bept. I indication and compared STRAIGHT LINES

The

the first Government es

the

It

he latest estimates for 1954

are per cent below 1958. in August for 12,680,000 |

this rate capital spending will bales,

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

THE GENERAL ELECTRIC COMPANY LIMITED OF ENGLAND

·· Record' Sules

The 54th annunt general meeting of The General Electric Co., Ltd., was held on Sept. 23 in London,

Sir Harry Railing, the chair- man, in the course of hịa speech Bald

The Directors reports shows

a gratifying Increase in the

Business done on the Hong Compan's pronts for the year, kong Stock Exchange this morn-which could only be achieved Ing amounted to $310,030. Noon by an increase in

production. quotations and the morning's Bales constituted a new record transactions:

both In capital and consumer goods at home and abroad. But SHARES BUYERS SELLERS SALES for this fact it would have been BANKS

IK. Bank "INSURANCES

Union Lombard.. UnderwritedE

.. 1745 2700

SHIPPING

Waterbbat.. DOCKS, ETC.

0125 126

K. Whort.. 001 Brock

Provident

[Old) Wheelock

LAND, ETC. RK Hotel

1

CO

2,00

24.50

20 4750 Impossible for us to absorb the wago advances agreed to in the 2000 Engineering Industry.

from 200 @ 20.30tion

T

7.00 7.79 700 7.49

The accounts show an In- crease in profta before tax- £4,230,000 to £8,778,000, and in the amount of proft attributable to the Holding Company, after taxa- ilari, from £1,200,000 to £3- 364,000. After allowing for

.. 2018 20.79 500 g 10.00 depreciation, and other provi

500 (10,00

5000 10,70

elons, the show

2000 18.70 5,778,000

58 2815 100 ve 38 S ***** 2:1021215

HK Land

Shot Land

Tram

Star

18ADIONO 100 16.30

43 130 Y'mat Ferry 15% -157 C. Light (0) 18.42 (BIG Electria. Fitzrani

Telephone 26.10 20.30 INDUSTRIALS

Cement...

1000 g 18,20

3014 500

103

1

pront of before taxation. Taxation absorbs 60 per cent. and wo are allowed to rotain, 42 per cent of the profit wa have cared

The Directors, have becom- 16.40 mended an increased dividend on the Ordinary Block of 18% per cent. for the year as against per cent. last year. Wo

30

11

the increase entirely Our Current Assets exceed Current and Deferred Repa

Liabilities by £26,000,000 and STORES, ETC.

thus again show the Intrerent Dairy

2440 3411⁄2 800 243) Wetson ** 17.20 200 e 17:30 | strength of the Company. 1 Crawford £1.00 COTTONS

The General Electric Co., Ltd. Nanyang

10 200 @ 0.90 of England known, throughout. Yangiste....

the world as the G.E.C. is. Allied ****4.1572% 41000 415 represented in Hong Kong by The British General Electric Co., Ltd.

9.15

MISCELLANEOUS

<

World Rubber

Markets

The consolidated decounts of The General Electric Co., Ltd. show that the capital employed at 31st March 1984, amounted approximately £50,000,000 and that the profit for the year to that dato after taxation amounted Singapore, Oct. 4.

approximately £2,364,000. The dividend on opening nt

around

the Ordinary capital is 1234 per. the closing level Open market advanced on speculative cent. for the year less income

tax; interest buying.

'Sellers reserved and 53.500 there

was some short covering

The Company has over 83,000 870-200 and little trade support towards

employees,

make 1954 the second best year Trading volumes and open in

pilotless bombers It is linked with the outfulls** matched ~~'byTM*' missy-on-2000rd. -Exospite-GoysEREVENT / Letrats in the.. Exchange today |

com- at:

direct

manned aircraft Mr Keith-Lucas said that bining the role of shepherd' founit to with that of photo-reconnais- now ways must be enoble future bombers to avoid sance, the Kulded

hurled missiles by air defence.

against them

Either the bomber

might winged

it

Another solution Ja the rocket. Mude liko 4 travel so fast that the defence V2, but with wings added, would have little time in which could be taken up to an initial to launch its missiles, or alter- height of 15 miler by a 100-ton so booster rocket, and thinks Mr natively bombers might By low that the defensive missiles Kelth-Lucas, could achieve

of 3,000 miles f would be unable to locate them range

were because of ground interference. heating problems

10

come.

nar

Britain's Alr Registration Board takes this into account when considering take-off loads, and the Viscount is equipped lu carry mixtur

a small supply of a to boost power for the take-o]). Д But now the U.S. authorities the are saying that account should temperature over- also be taken of

effects in normal flight in the

failure by event of engine.

одс

I

This is a requirement impored on the Viscount though doesn't apply to any other air- liner in America,

Another observer, Prentice- Hall; "Dior's new flat look In female fashions has been

legislation Increasing deprecia- were for 1951. business, entves

tion:

the Month allowances as one method Hirely have the chart lines

October monotonously been

of encouraging plants outlays, octob the downdrift in total cutlays December straight as now.”

Some arch Businessmen continue to keep has not been checked.

close watch on activity in quarters point to this develop- some key industries, for clucsment as another factor which October

Detember might retard business expansion to future

March prospects, notably

and Improvement.

Total steel and autos,

M

production Last week, steel reached the highest levels since early June, with Indication or this week, even improvement Operations this week Are estimated at 8.9 per cent capacity, or 1,032,000 tons. This would be 5,000 tons over. Just week's output.

10

Flying at high speeds over

One of the dunculties with enemy territory a few hundred

the rock: is to pchieve accuracy, feet up would be

extremely

and longer the range the bumpy. and the pilot would require speelal navigational mice difficult it becomes

been aids. The risk of hitting o hll!

Many erly V.2s exploded in

While the pickup his would be high.

mid-ais, and this was probably

was The Americans explained this disappointing to some, it and as the jet

due to the high skin tempera by saying that they think the felt that the higher irend hus fuel consumption

the engine's

atures reached on re-entering .considerable at low altitudes, 11 denger

the effects of temperature are more been steady, with good prospects almcrph:re would be dimeull

obtain earth's

marked on turbo-props than on that as the auto industry, makes Unfortunately, surface.

engines.

headway with its changeover to the effect of adding wings da to convert have got to be new adequate range.

mudel production, new spent tho Gime increzat

tmosphers and therefore to it high-over 60 degrees for the orders will help boost produc-

ilon schedules. payload to be affected. But such tensify the heating problem.

common in Ranges of the order of 500 temperatures ure

certainly possible and America during summer. aro

American seroplane makers, hydrogen bomb alomic or

too, are worried by this ruling. rockets winged com- would be extremely formidable start turning out

For it could hit them when they the Kelth-Lucas,

commercial of this

type the bomber Nevertheless

prop-jets. lecturer's in the have to be high, and

bomber is,

unsultable for ranges over

miles

To give long range and high with a

jpeed at low altitudes, ments Mr

wing-loading would

of

Joadt be necessary.

IL

This

In

8. opinioni, of 200-300 lbs per a of more than 750 miles; would give the aircrew the ad- longer ranges there will still be ride the need for more conventional Vantage of a a smoother ride when flying in rough air, but types of bombers.

The the with

Tho

in

Jock

AUTO INDUSTRY

The auto industry, plagued.

as it has been for months

cars, is concentrating

BASY MONEY POLICY,

Meanwhile, the Govern pent continued with its caży money policy. By laying out of the long-term market in a borrowing, the flov ́ërnment” hopes"lo"stay but of compeition with private Industries for funds. But businessmen have not been using much. of She available bank

credits.

expansion

Bank loans, to business have declined by over 800 million Lesi dollars since mid-year. year they rose 498 million In the same period.

What is happening, according to observers, is that the long- term-ständlag, inventory correc-

MAY

Aller

Saturday's

Volume

7,200

63,200

40,700

010,400

623,200 close. 28,500

17,000

3,300

263,800 81,200

3,400

100

170,000

8,000 2,414,400 bales

The market closed quiet after

50 500 very steady. Future closings: No. 1 rubber per ib. Det."

Now

No. 2 rubber per lb. Oct. NEW YORK'

No, 3 Prices of tulares closed today | No.4. (as' follows:

મ

NEW YORK

Futures closed lodný 63 to 05 points higher with sales of 85

30.100

Spot rubber upbeled. Blanket crepe

34.54

No. 1. pale crepe

30.83

Mar.

33.00

May

31.25

July

13.20

3481

Dee.

34.83

contracts. 34.09

NEW ORLEANS Prices of futures closed today as follows:"

Spot

34.57

and

Dec

$4.80

Mar.

35.10

May

were quoted at 2514 cents. ·

July

23.23

Oct.

34.80

Future closings were:

Dec.

De Mar

34.906

Mor.

May

July

Sept.

Deg.

LIVERPOOL Futures closings, American middling, 18/16° Inch, in penes per 10 were as follows:

Oct/Nav

Mar/Apr:

May/June

Dec Jan.

Oncial values for

*

with a record stock of un-tion is still going on. Business sold

is selling, not buying, it is sold. blamed President Elsenhower the business recession on the "In inventory pile-up of goods and supplies outpaced demand.

that inventories Helplin sign inced. replenishing will mean made more jobs, mar production, and

industry

has

July/Aug.

32.33

of

to

The Report was adopted.

NEW YORK

STOCK

MARKET

In the spot. market, dealers

New York, Oct. 4, a small to moderate reported business,

Industrial stock resumed; Including salds November one sheets at 25% market leadership again to

March one sheets at 25% day with a vigour that add- cents pound. Spot No. 1 Rssed 2 points or more to many

LONDON

The market was steady with No. 1 Res' spot quoted of 21 13/16 pence per lb. Prices: cottons. No. 1 ...... 2176-2136 Settlement house termi

Nov.

Doc. 42.70

Karnak, good/fully/good- 43.00

iza 30,

+41.00 Ashmolin!

15/isth Inch 44.38

th inch 30 Mexican mlading, 1-3and inch 34.10

· BAQ PAULO

Jen/Mar Agr/June July/Sept. General markets; cif

New York Sugar Futures Clings in cruzeiros Eriate crepe thick

Market

on turning out new models fòr 1955. At the same time making a determined sales effort to clear accumplated stocks from

om warehouses and sales floors. The secret behind the latest

The Viscounts in service the smaliness of the wings

success of the new mirro: landing

In September, better demand for all kind of American midding," been would necessitate housing

Aer Lingus have

some headway bulk of the fuel in the fuselage. Dying on the airline's routes apparatus now being used in

British alreraftscortlers is a prospects are that auto com- raw materials-United Press.

the new model The fuselage would have to be since March this year.

panies will installation on the ground.

enter your in A reported

better Inventory large enough to accommodate company has just

and its staff magazino on the way bombs, crew,

Lieut. commander

position than last year. Prices equipment

they probably the undercarriage as in which sro serving it Elliott, specialist in naval test are generally lower this year. Aer Lingus has four Viscounts, flying, made "mirror-eye" land. Consunce spending, shows ho well.

and the magazine says of them: Ings on experimental airfields sign of abating and auto dealers Such high wing-loading

the portion of would cause a major lake "A remarkable feature of the before taking in the more-than-are keeping up sales pressure to problem.

"Even

man his operations was the fact coo-miles-an-hour de Havilland attract their unlimited that the

ficct of Viscount 110 for a frst touch-down on a comuneg*ple."","

reached rocket assistance might

not

prices, which aircraft

just introduced into carrier deck.

their low in March, 1951, showed achieved a utilisation provide the answer," said Mr service

Thred times before making an upward turn in August, Keith-Lucas

that of "hedause Lake-off

the much

Tho, Department of Agricul pneum would be so high, toateater than

larger fleet of D.C.3%, Indeed the first touch-down

deck of the e tyres could not with-1 rate of flying-or

aferratare ture index (1910-1914 equals closet point lover our United Pres 14." Three

wayn Viscounts

during the month Albion, Commander Elliott took 100) rose to 261 then from 247 higher with sales of 55 contracts. Both markets lacked a speciál possible

priep overcoming the difficulty was the equivalent of an annual the big swept-wing 110 over the were, flight refuelling; using a uillisation of well over 2,000 ship

trading feature, time, as he came

“Fujure closings: mother aircraft (which would hours... Viscount avaliability at

of

on the

Bounds the bomber in flight); Bà per cent was also at the same astem, he picked up blob of re E

and water-based aircraft (o.g. level no that of the D.C.3's."

flying boats).

The alternative approach-

flying as fast as possible at.

high altitudes would give rise

o many of the same problems.

дасл

flected light in the big curved

mirror on the post: side of the carrier.

to a true touchedows on the Samo of the

sume

has been particularly in non-ferrous métals. bean Interpreted *** presaging a pickup in steel, Inasmuch On the fourth cun, it led him, which use ferro-alloys generally

steel as Use

WELL

strength strip of deckscribed, however, to a pur

A fraction of n

second, the of special industr Supplies Jay the Chile have lightene Tott recent strikes,

reportedly sold bar and

In

aft's

the: Brst question would be The part played by the twin-seater nighter war airborne how to get the necessary range. Viscounts in our June/July again. Experiment The range of a jet aircraft is frame boom can best be judged going on with partly dependent on its speed from the following figures hook, and: Chan

If we can fly fast enough we During these two months we could not have mu can get long range?!"

anualpated a natural Increase

But at these speeds (approx d

the

barrier

(can "rosi

must be overcome.

must be found which

yorý high. Lampers,

must be fora

our | Her

WD

cont" on amle, Ön viscount routes

sted an extra bonus of mas

“due to, the attruc, i sa the new aircraft

show

per kilo were as follows:

Oct

Dec.

Mar.

May.

July

sales

The market was steady. Prices New York, Oct. 4.

*29.00 closed today in fulliderat per World No. 4 sugar fulures |

(In the United Bater, the kilogram, GIF, October at folk closed today unchanged to average price of 15/10 middling Tow paints higher with sal of 50 at 10 designated spot markels contracts,

was 34.27 cents. Sales at theini futures Domnestie No.

contres totalled: 65,064 bales,)

30.35 21.45/ 20,80

AMSTERDAM

No

rubber No: "rubber)

Contract No. 4 ́(world)

rubber

leaders and more than erased last week's losses.

Turnover for the session today. totalled 1,922,222 ahures,

Leadership was of top quality. Du Pont soared 3% points;

་་་ Goodyear Tyre rak up 94 points; Standard Oil of Call- fornia climbed 21⁄4, Bethlehem Steel "1% among the issues used in computing the averages.

The average geliş in industrials amounted to 2.85 boosting the figuró - within a point of the quarter century highs established early inst week,

Hails, after a sharp spurt on Friday, goderally held withlo n fraction of their previous gains; Closing a fow cente'. Tower: 'on their average

Aircrafts were among the early leaders Ins Industriale and closed with gains ranging to 1% polita. Bethlehem featured in the slcols.

melalu were uyor Non-ferrous

helped by a lead price Increase Konnecdit gained in point, Retore Reynold

Breakdown Of China,

Ceylon Trade Talks

Colombo, Oct. 4

General Motors featured its group with a rise of is point.

Oll gains ranged to 24 phints Colonia Standard and Shell: Shamrock Cill hela of an early wider gain The company Breported i higher

higher $80-low Taw.) York (Stock

bond:

volume