1954-10-19 — Page 9

CANADA

ST.LA

PLAIN BOSH

IN ATLANTI

LWAUKEE

UNDLAND

AREA OF

MAIN MAP

BYSSALIPI

THER POSSIBLE PRO OCEAN

THE CHINA MAIL, TUESDAY, OCTOBER 19, 1954.

Columbia Scientist

Says

Rivers Of Mud Cut Canyons On Ocean

Still

By WARREN BENNETT

Associated Press Newsfeatures Writer

information.

מ1

Floor

GMC

another sub-there was little need, other than i buttressed this theory with sonra The terrife quake must have scientific curiosity, for such heady historical research. In started a silde of loose material marine canyon deep be-

1920, an unusually big earth-which cut the nearest cables at neath the surface of the

quake shook the continental shelf about the Measuring cecan depths with 480 miles cast of Nova Scotia. stirred-up mud and sand mixed time. The Atlantic Ocean has been tremp rupe and sounding leads IL Evered

a number of trans- with the water and the heavy cables discovered by scientists the only method known prior to Atlantic

most turbid fluid raced down the een- 1870 WA cumbertume and unusual fashion. Six went out tinontal slope Ure an enormous of the Lamont Geolo-

Often costly.

it took several

at the same time, but others did river more than 200 miles wide. cable. By cutting cable after checking the time and place of cach cable

break,

they could Bectaately how fast the

gical Observatory, a hours or oven an entire day for not break until hours later.

division

University.

a single deep water inding. By! of Columbia 1895, the world's navigation charts included only 7,000 sound- its in depths greater than a

in the abyssal depths about 600

The new

canyon was found mile.

miles east of Philadelphia.

Then

טליני

1920 Les

come

sonic other

་

Carrent flowed.

on

Heezen and Ewing dudled the records of Western Union and boiled along

Un the continental slope it at an astounding cecan cable companies.

exact second

13 hours later, when it out tha

the silll thei

TRADE AND COMMERCE SECTION

AMERICAN ECONOMY

1954 Retail Sales

May Reach

Volume Record

By John Morka

New York, Oct. 18.

Retail sales in the fourth quarter stands a good chance of lifting 1954 volume to record levels, according to US business observers.

If current predictions are borne out in the next three months, this could mean a tremendous windfall to dollar-needy exporters abroad who usually bank on the Christmas season 'for a substantial part of their annual sales in the United States.

•

Biggest beneficiaries would be foreign dealers in toys, cameras, foodstuffs, optical equipment, knitwear, liquor, linens, toiletries, woollen and leather goods, etc., imported from a host of countries including Great Britain, Germany, France, the Netherlands, Italy, Scandinavia, Ireland, Belgium, Spain, Japan, and to a lesser degree, from South America,

13

Main reason for this optimism (compared to 13 per cent it now

the relatively favourable cominands. inancial position of Amerleen United Sintes auto makers are consumerR

› Strike Affects Wool Sales

London, Oct. 18. The October series of London wool sales, ham=" pored by the dock strike here, has been postponed for seven days and will do confined to one week - in- stea/l of two.

The sales will now begin on November 1. provided fabour is available by October 25,

This news was given fo- day In

a joint statement by the Commitice of Lon-

don Wool Brukers, the Losion Wool Importers Association. and the London Wool Warchouse

Keepers.

A two-week series of malen 'was due to begta osi October 25. But the con- tinuation of the dock strike now makes is impossible to place the 18,900 bajen „Al- ready. In Warehousen show in the-Reuter,

of

World Cotton

Markets

New York, Oct, 18,

opencil prices today and remained

on, the for the rest of the

Holdings are higher beginning to feel strong com- in cash, bank deposits, savings petition in foreign markets and and lcon

cccounts. Personal now exploring the possibility of Cotton income remains at high levels-utw approaches in

the feld

lower In fact, slightly ahead of 1953, American auto and

truck

cx- defensive as jobs become more numerous ports so far this year are ahead session. and some wages Improve. of like 1953 period but there's

Income

At the close the list ruled of payments to in-still some disappointment over to 0 points. The market open dividuals are running at a a level developments. General close to last year's

Motors, ed off 1 k 4 points. New figures.

for example, has announced o Orleans Another

closed of B to Invourable factor multi-million dollar expansion points.

market.

NEW YORK STOCK MARKET

New York, Oct. 18, Individual features in the aircrafts, steels, chemicals, metal and carriers high- lighted a firm, moderately active stock market today.

Gains Irt these

features ranged to more than a point although for the main group body stocks movement was. smaller with advances and re- ellnes nearly, in balance - 444/ against 424 out of a total 1,181 issues traded,

Volume dippet to 1,700,000 shares Croni

2,230,000 last Friday.

the

Blue chips were best per- formers

Industrials which Inst week suffered their worst break since June of 1950, following the outbreak of was

Korea,

Market men said the lower prices for industrials night serve to stimulate demand. They saw the continued Arnness In ralis as favourable, also. and some mentioned large short Interest as another factor point-

to ing

continued market strength.

BEST GAINERS Best goingrs in the IndustrIOJE included issues such as Du Pout, up 1% to $1414% on a favourable US Stool, up earnings report; up in steel industry operations 112 to $80%, reflecting the pick-

11

to

4

the best level sine mid- February

Lockheed was up 144 to $45

which would induce consumer programme for its European' Bearish sentirent grew out to feature aircrafts, Lockheed *pending is that co

consumers have assembly subsidiaries to com- of been able to reduce their out-pete with foreign vehicles in the persistent hedge selling, was the day's most actively standing debts earlier this year. European

the following

week-traded Issue. inext heavy That would put them in n. better prefer

Europeans end spot market sales, vehicles with Tower with the

along In the olts, Texas Company position for doing some new horse-power which use less gos, revival of expected buying in vice 1 to $104, Royal Dutch

discouragingly alow

rose 1% to $781%. Cities. Ber- buying, it believed. And the and American

companies are the textile market. Election un to $68%. upward trend is already notice not geared to such operations. certainties also were becoming able, say the experts.

Brightest prospect In the auto an

Louisville and Nashile on- Influence, NEW BUYING

export pleturo. according to thought.

traders tured in the carriers with a rize New buying

for instalment Business Week magazine, is the

of 1 points to 8704.. The decline carried the murket purchases have exceeded toanBouth and Central American below

The New York Stock Ex the previous resistance change repayments, so that the amount market, which accounts for the point of

bonil 34% outstanding has turned upward. greatest part of the demand-December

tents for the $2,900,000. As of August 31, outstanding United Press.

delivery, and com The instalment debts totalled 21.3

billion;

12

*

ompared with 21.9 as compared bililon

the end of

of March. A Wall Street Journal car

CRITVAKE of US retallers found most

most mer- chants expect

fourth. quarter boost over the previous year's levels. Predictions ranged up Lo five per cent increase.

12

If realised, it these forecasts Grc would mean a reversal of trend evident last year, when about 1.5 per cent behind

This year, the Journal said,

ocean at this point is 18,000 fret i soundings--a method of measur-They found that each firm had 57.6 miles per hour. More than les logge

dorp. The canyon runs from ing deptly by timing the interval a record of the west to cast for distance es-

timated at 300 to 300 miles. travel to the bottom and back.

Bruce C. Heczen, director

the latest trans-Atlantic ex)

tion of the university's

charting of

or

گار؟

Flup.

34 A

of each break.

the

had been

as-

the

HONGKONG STOCK EXCHANGE

..

8.10 ..20.40

Lombard Underwriters SHIPPING

Waterboat Axio N... DOCKS, ETC.

Wheri Dots

some

volume whis

pared with the season's high volume was 500,000 shares,

made on Sept. 24, the spot month showed a lows of around $5 bale.

Chlef support lies through scaledown buying

American Exchange

DOW-JONES AVERAGES

.

Dow Jones closing averages

by domestic on Wall Street today, were as

39, iruhustriala

20, ralts

mills, shippers and other trade follows interests.

Trading volumes and open in-15 utilities bereats in the Exchange today 40 bonds $3 stucks

were.

Month

Dec.

Volume Open interest

none

2.000

40,800

1140,600

29,201

003,300

27.200

720.000

21.200

332 900

·7.200

D8,400

4,200

2,200

131,600

41,400

10,400

$540,000 balon,

NEW YORK

Prices of futures closed today |

(From Our Correspondent). Oct. Busines done on the Hong- Mar kong Stock Exchange this mom-May necessary for a sound impulso to its cuble lines had falled on that last cable 300 miles to

for the wee

week ended October. 2. ing amounted to $677.237.00. July

Def. particular day & quarter-century cust, the mud was The boat did not even have to ago. Other truments had de- 10 13.8 miles an hour. It must/partment store sales.are trail-' Noor quotations and the Dec. Star. termined accurately the

position have spread for hundred of miles a year ago by 2 per cent morning's transactions:

the same log record for the year

SHARES BUYERS SELLERS SALES Total over the flat abyssal plain. The This new development provid-dikenal data ship Vera, seid bad weather

There was a deductions are based on the fact

to, dato. Among others, the BANKS

IIK Bank from the repair

American Rotall

1940 1850, 20 @ 1040 Federation ed much row precise kwledge ships which

East Asia prevented

had re-established not only severed but buried by

that many of the cabins were predicts record retall Rules this INSURANCES Previously canyon's contours for more than of the ocean floor.

Union enmunications links. Long 100 miles.

that this had been ounskiored In most of

the flowing silt. sections of some cables had been

WEEK'S DEVELOPMENTS the canyon is 180 feat vast monotonous plain, broken carried away and lost, length,

Heezen believes

thai many

Latest developments of the Other deep, from two to three miles only by occasio FISK and

Buch turbidity currents, operat- cobles

week: buried deezing during the millions of years wide with absen

come volcanic islands. It and in some

was found *4:13

Tarints and concern about com- costs almost

almost perpendicular walls, that the ocean floor is as rugged under mud and sand.

of geologic time, have gouged petition from abroad, dominated Existence

In many places as that of any submarine

Like Sherlock Holmes working out many canyons on the ocean

foreign

trade attention this canyons near the coast has been of the continents.

underwater, Herzen and Ewing for itself. Some of these con- week. President

Eisenhower's could painstakingly reconstructed what ceivably

approach the proclamation Imposing new im- must Have happened on that magnitude * of tho Colorado port duties almonds and particular day in 1929. The River's Grand Canyon. If there Alberts was generally taken in ocean floor near the epicentre of is such a' submarine wonder, stride. The continental shelves, those the quake is extremely rugged Hoezon hopes to be the first to canyons has been the contribu-

Trade circles here were in- tion, of Lamont

His chances, seemclined with steep slopes of compara-discover II. expeditions urces extending

take a mixed view of fathom (800 feet) the last six years

depth, vary lively los material. Here is pretty good for there, lan't too the President's decision, Untu 1949, when Heezen found considerably in width. Along the thei: drduction:

much competition,

It was felt that the President's Pacific coast of the United States, four canyon-like depressions m

moderation of the recommenda~j the ocean depths east of New-the shelf is narrow or even non-

tions of the Tariff Commission Bundlend, there had been mcxttten in sume cases. Along

on quotag indicated a polley coast, it averages clue that huge gorges extended the Ailantic

more in line with his avowed about 50 miles wide, Off the

programme for a more liberal another Lamont ex- Gulf of St Lawrence it is 150

trade. north miles wide; south of New York south mid-ocean canyon with a 80, off Chesapeake Bay 00.

known for nearly a century but the discovery that some of these gorges run out to abyssal depths in networks

auring

converging

out into the abyssal plains.

In

1052,

pedition discovered a

known length of 1,200 miles and

to the 100

The 600-foot depth is generally

a probeble of 2,500 or considered as the outer boundary

This

off

Auge

which has a

of

the continental shelf for here, generally speaking, beying the

starts maximum

um depth of 600 feet below much sleeper continental slope the sea floor and is width ranges which drops off rapidly to abyssal from three to five miles. Over depths of 10,000 and 15,000 feet. most of its known length, the There slopes are indented every- canyon is box-shaped with a flat where by gigantic gorges. foor and steep walls.

"We believe, safd

"Combine Harvester Is The

Devil's

Invention'

Moscow, Oct. 18.

on

However, others noted that the new almond quota was D sharp cut in the previous limit, while that.on Alberts followed | a year in which, there were no

restrictions at all.

Elsewhere, a. textile machinery manufacturer amphosised

the need for high US torins to protect the American: textile industry. Despite the expendi- of $3,000,000,000 since

World War 1 Frederick Howe,

Ture There are still peasants in the Soviet Union At first it was considered that Urese canyons had been formad who prefer to work their own private plots with

Provident

(Old) Wheelock

LAND, ETC.

JK Hotel HK Land

NEW ORLEANS.

43.200

24.08 12

Comm. fulum price

World Rubber

Markets

Singapore, Oct. 18.

After little trade buying at the opening the market Ragged to- wards noon and In the afternoon Thero

35.81-03 cased further on selling. 3522-23 WBA some uff-take for Australia. 33.14 Future closings:

Nov.

No. 2 mbber per lb.

unquoled

Nov.....stayi 7014-7014

No. 3 gubber per ib.

200

030 045

as follows:

40.

2000 @ 0.10

Spot

1600 @ 20.30

Dec.

760

0714 21.60 2.30

14.30 14.60 1280 @ 141

734 2000 7.53

10.00 -11

Mar.

May

July 50 0715

Oct.

24.83

Dec.

No. 1 rubber per lb.

34.68

Mar.

35.00

Dec.

28/11/16-70 13/18 7016-76-14

200 e 561%

Prices of futures closed today

62at Land 1.40 11 Humphreys.

as follows:

800 64 20.30 .... 2.10 2.1715 3700 ve 235

Spot

34.10

Dec.

34.75

Tram

1810.30 160 @ 10.10

Mar.

25.04-05

May

Star Ferry 131 133

Jub

XD....

Oct.

39.14 34.80

133

Dec.

Mar

2500 13.00

10 18, on

800 16.80

500 30 27

Realtjs UTILITIES

Y'mall Ferry

20 300 20-20

152184. 500 e e. Liga (0) 1030 là 1800 Dị 10

C. Light (N) 12.00

Electric.

Telephone INDUSTRIALS”

Qezent Поря STORES, ETC.

Dairy Watson

20.00 27.40 1150

12: 17,80

له وان اليه

Future

LIVERPOOL

Nov. 000 7815-793% No. 4 rubber perlu.

Nov...*.

Spot Tabber umbaled 7016+267) Blanket crepe

No. 1 pale prepe.... 85(4.68!

NEW YORK

Futures closed todny 55 10.75 points lower with anica, of 00 - contracta.

The lower trend' reflected thơ”

closings, American London action and the indiffer- of factory and dealer Middling cotton 15/18 inch, Ince

buyers in the local phyalent pente për Ib♫ were as follows:

market.

Oct/Nov.

24.00 24.00 1:00 24.08

1000 i7 24.70. 107.00 17.19 Crawford 23.00

Dec/Joh.

Mar/Apr.

May/June

July/Aug

Official value for

Include:

COTTONS

10 10.10 1839 10.10 good/fully

Textiles ... 0.70 0.00 Nanyang... MISG-ULAMANEOUS

Yangtze ... 5.80 8.00 Allied *** 4176 44

Giza 30, Achmeani

Aniertesa middling

by ancient river when the sea wooden ploughs to joining collective farms. Mesident of the American New York Sugar | Mexican middhing'

level was lower before the land.

glacters melted. This

Hoozed, was flooded

and

"there are many more mid-ocean the forego moctisin water when according to the newspaper, canyons yet undiscovered

Visiting collective farm át

"Soviet Culture",

r

tha

Futures

Association sald that

of strictly. percentage of modern machinery In

American

milis. wah below that in

and our work for the next few years theory of submerged river valley Zadonsk, on, the, river Dop, "the ❘ of the harvest came, the festival | Germany.

"For example, at the height probably lower than that in wes knocked Into a cocked hat Includes plans for explorations when oceanographers dimovered newspaper's correspondent was of Tikhon of Zadonisk. That protection for both textile and sales reported. of other ocean basins: For

with the sonic sounder that some told that these peasants are day, many people stayed away example, we

thero certain

manufacture. of Dodan foor Half, three miles collective and still live wretched if these celebrations come only down the castern basin between below the surface. The level of liver

they Bro as individua}} Entries?! aced the occant The Mid-Apotle and and i Eurept, ...starting near*

Could antallon that ending off Spain.

fex);

Syear"

machine

ha

A

spot

Importers reported shipment 341offerings from the East were n 82.50-11ittle more plentiful than "re- 22.84|cently, although prices generally cotton were still above: a workablo

basis. *** p

Spol No. 1 Rss wère quoted at 4205 2015 cents a lb. Future closings: 49.95 Dec

15/18th. fhgh: 33.38

I Mar.

May

May

July

Hapt,

Dec.

The markin

quoted at 24 pen

30.05. Prices

* 20.00%

lenserit, housle terpkite

BÃO, PAULO New York. Oct. 18. Futures closing

prices World No. 4 ujar futures cruzlaros per kilo were as fol stendy willy No. He urged tarins slowed today unchanged with no lows: Domestic No. 9 sugar futures MRY closed $1 point higher to 1

Juty Domestic

contract reflected higher ruling of raw and (In the United States, the average príob of 18/10° middling. growing out of continuing uns Wax 84.2

rtainties in the trucking strike less centres totalled. 67,050 cents Sales at tion. Future-elongs: taler United Pros

BAYAN

of the

Dee,

Bredewer, with sales of 353 content May

(29.500

is a mid-ocean- canyon, running the canyons, led down to the sectarians who will not join the } from the fields--and it is not an Sproul,,

never have. There are Patill Proveral- such · The correspondent said, that. I Federal Reserve Bank of New Improved reiner-demand at; 10 designated spot markets:

There probably is "a network Ainora recent theory is that

forms in this villaen some boys whom het azw York). A gradis but noticeable

"They consider that a tractor bathing in a river, hua" "magle business expansion for the

will knots to protect them downs are thmad / tiod - round their necks of 71854:3 short-term: vapu

In the Indian Ocean, flowing off the submarine gorges were cut comes from the Fyll One and the dollar of the great rivare by turbidlay currents; rivers of combine is the Devil's invanti

of India, much, like the network roud and tilt on the bottom.

emming mom the Hidron River Wheh slope of Jeoso, material

araiziet, Illbem, low marks? at- changes + expected, with.

school and ali boyish troubles;;

better

at No. world

20,00

20.30

29.20

26.20

(20.00.

24.00.

20.00

Mennyon in

con la dimurbed by an carihquake

for example, mid and sand

er the

has alwayjobben.

Rate