1954-10-26 — Page 9

THE CHINA MAIL, TUESDAY, OCTOBER 26,

OUR WEEKLY AVIATION NEWS

TRADE

The Vickers Viscount which has proved likòlf

onc of the most successful commorefat aircraft in the world. In 1950 the new 800 Series will be ready for delivery. It will have`a greater payload. speed and range than is predecessor shown above.

800 SERIES

VISCOUNT 800

READY IN 1956

climates. SKLYPO with D.E.A., though the, huumiil

when the number

strvice equipment is packed a drying AIN doing the

your Was twelve, agent is inserted Inside tho Three more are being delivered poly hene wrapping to dry the dus ootama,, and a further three air round the equplaent and is the spring of 1935. The de- thereby preserve it efficiently.

the summer of In 1956, deliveries will be gin of a Vickers Fricount turboprop airliner which

of the latter was post- is larger, faster, and y

that Capital Airlines, more economical USA, erald begin Rs Viscount than those already in erations earlier in 1955 tun otherwise have been

even

plusserl

arc

First of the independent air lines to sell currency coupons will be Airwork Limited. They announced today that they have received Bank of England authority for the sale of these Improvements in tra coupons up to maximum of

120 per passenger per trip. the introduction of the Viscount on competitive

Tho

which coupons, rules were immesent...

vouchers issued by Airwork and exchangeable for local currency abroad, are available in unite of half-a-crown and Ave shillings. Books of coupons are available at £1. £2 10s and £5.

Airwork will plart selling these coupons on November 1. They are providing this service on al their scheduled routes,

service. The new Discounts ¦ possible. will be known as the 800 Series, and they will remera by be able to carry 70 pas- sengers for 500 miles (for example, from Lon- don to Paris or Zurich).

Brkish European Always hus ordered 12 of The new series, with an option on eight |

as part of its tolud feel niore, of 38 Viscounts #1 present ordered. The B.E.A. model will

Swiss trame increased by 60 per cent, Scandinavian

by 58

per cent, Spanish by 40 per cent, and Mediterrândan by 41 per cent, Viscounts fest déw to

De Viscount 802, which will Scandinavia during the winter of 1953, and traffic increased by 110 per cent on that route,

bo arranged 10

carry passengers for 950 miles

63

the

the

including the Trooping Service

to Singapore.

basic overseas allowance.

ani

yet bought ů new neroplane eru of the Australian Depart- from other than the British air-ment of Civil Aviation stated craft industry.

recently in Canberra that "Aus-

CONDERCE SECTION

AMERICAN ECONOMY

GATT Commitments Come In For Strong Criticism

By JOHN MORKA

New York, Oct, 25. U.S. commitments under the General Agreement on Tariffs and Trade came under strong attack last week as the four-day hearing on possible modifications of trade-concessions neared its close today.

Some 31 business spokesmen-representing a host of industries --testified before the Committee for Reciprocity on Information. The testimony and views of the business groups is expected to serve as guidance for the U.S. delegation to the forthcoming GATT meetings in

Geneva beginning on October 28. **

NEW YORK

STOCK

MARKET

New York, Oct. 25. Wall Street wiped nearly -$1,000,000,000 • from the market value of all stocks today in selling concen trated on: the so-called "War Stocks."

Steel shares, aircrafts, alls, rails, motors, chemicals had les és ranging to more than two

points.

Most of these have been in heavy demand on the upside in

recent weeics, with large paper profits to be taken. Market men

| Interpreted the 18-nation Paris agreement restoring a German

Amy as a move toward peace and to many it seemed a good time 40 realise these profits.

CARPET DEAL

Sydney. Oct. 25. Carpet -7 Manufacturers) Ltd. ■ of Sydney ham uegotiated agreements with the American carpet manu facturing enterprise Hiaclow-Sanford Carpet Co. Ins for the sale to the Australas company of batterion of manufacturing

Tooms for

purposes,

together with a technical

Rervice for them.

The company recently made

capital issue to provide finance for new and Ancillary

buildings

pibal,

A

The year fust closed was a record one, net. profit belig 2A08,904, Increaseð from: £AKB.732 for the 1952-113 year.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business done

on the Hong- kong Stock Exchange this morn Ing amounted to 8028,953,70. Neon quotations and the morni ing's transactions:

SHARES BUYERS' SELLERS SALÉS

.. 1840 1950. .. 200

Industrials were down 221 on One of the quest'ons which will serious damages to American stability in International trade average, rails 1.07 and utilities be taken up at the international Industries under GATT con- and currency balance.

43 cents. Of a total 1,218 issues GATT conterence is whether to cessions and heard pleas not to Reports reaching here from traded, 711 were lower, 304 make a further postconement of put off any longer the date when Ankara stressed Turkey's dit-higher, the date on which Article 28 Be it could withdraw tariff concca-nculties in making payments on comes effective.

Article 28 of stons to other countries.

VÕLUME. · INCREASE These some of its all payments. Already the agreement outline procedures concluded spokesmen for cation, come $30,000,000 in debt to four Volume increased to 2,340,000 under which modifications could west, petroleum, food industries, major suppliers, it was said, that shares from 2,080,000 on Friday. BANKS be made. Under present arrange- textiles (including gloves), further supplies might be cut off A tow ismics held well in JIK Bank ments, U.S. concessions under among others.

Fat Asia unicas current negotiations for the face of the decline. Glenn'INSURANCES GATT could be withdrawn after

credit and loans are successful. Martin supported by sharply Unina TYPICAL ATTITUDE . ** July 1, 1035, ·

Turkey was said to be down to higher earnings and the first Lombard Typical of the strong attitude one month's supply of civilian divident declarations in seven DOCK C

years, dipped only . point includo

most the $32. It was the day's representative of three large cotton mantefacturers.

Dir Cattore Claudius Murchison insisted that Slates, Socony Vacuum, Royal Other aircrafts had losses 3% points in GATT is in part responsible for Dutch Shell and Anglo-Iranian. ranging to the lass of two-thirds of the Cultox was understood to have Douglas at $8014. U.S. colton

notlied the Turkish Government export trade and that imparts

seriously it would not sell any more on threaten the solvency of the credit and the others were re American textile industry.

ported to be contemplating ding. the same-United Pregs,

The Reciprocity Committee heard strong

complaints

of teken at the hearing is that of petroleration of the United) actively traded Issue,"

World Cotton

Markets

New York, Oct. 25. Cotton futures fluctuated in- decisively in quiet dealings.

Activity was crowded into the opening and closing, responding tó small orders cither way.

now

Tho U.S.- not in agree. ment for postponing the effective date fer partible revisions-will| then have to decido just witat use it might make of Article 28, whether it will re-hegotiate some of the concessions or else lake some sort of unilateral action to || alter them,

STRONG, BID

World Rubber

Markets

|

to

Steel shares, recent to- vourites, gave up a point or more in many instances.

Losses in the rails ranged · fo

2 points in Union Pacifte at 414194.

Farm couipment issues also stood out on thè upside on re- ports that, a 15-month slump in the Industry is over. Cate pillar tractor led with 'a D1 1% to $65- of

The

American

DOW-JONES AVERAGES Dow-Jones closing averages Wall Streit today wire, 'ns

follows:

250,34

30.30

17100

100.196

108.07

United Press.

Oll losses were sharp In most Outside the sterling arta At the close the list ruled off

instances, High priced Texas The Viscount 802 will have

On the engineering side, the passengers

Pacific Land Trust fell 8 points. can exchange into 3 40 up 8 points, Opening prices Trade circles here expect that

New York, Oct., 25. the lowest direct operating cost

check periods for Viscount local currency up to ten shillings were unchanged to off 4 points: the US, will be under consider Rubber futures closed today

The New York Stock Ex- maintenance were for each passenger mile of any

gradually for n stop of a few hours, and

New Orleans elöred unchanged able pressure for Increased aircraft in the B.E.A. fleet. For

further 18 to 23 points higher with sales sange bond volume was $8,- as experience grew, up to thirty shillings for

830,000. postponement of the effective of 67 contracts. and now they are the same as overnight step: Inside the sterto up 3 points. Instance, over 750 miles

Fastern

Stock : Ex- shipment offerings change volume wns 800,000 hdate, pr the provision:- for the well-tried DC-3 and ling coat will be 11⁄2d per seat mile,

по restictions are Lack of speculative aggies.

light, Vikings. whereas the comparable

reflecting imposed on the figure

the shares. amount of alveness on either side res

Singapore holiday, Soma Slam for a Douglas DC-3 3። more

Coupons which տր be

**- Aceted over-hanging uncer-

efferings were available on a than 24.

B.E.A. This is particularly

stales

changed. The coupons

The U.S., according to small scale, but the prices were that

do not tainties. Foremost among the significant because the DC-3 is Viscount and the Ambassador count against the passengers' unanswered questions is: Will these circles, expected to make above, a workable basis,

unr uf the most represent together the most

the Government November crop a strong bid for further redue at present

Factory interest in the spot competitive commercial air fleet

tion on tariff barriers and a lift-mackel, was reported negugible, report show another good- operating OVER medium and

in Europe. The airline has never The Assistant Director Gen-alzed increase materially in the of trade restrictions Spot No. 1, sa wire quoted at zo reils

30 Industrials thort stages. The 802's economics

ensuing weeks?

generally

274 cents a pound. Future 15 utilities will be an improvement of some 15 per cent on those of

Statisticians

In the background, though no closings became pro the present Viscount, which is

occupied today with analysing as important, is the desire of called the 701 in BEA's feel.

tho Government's ginning re the US. to, lay, groundwork to turns to Oct 18. The figure or win for Japan a place in the General Agreement on Tariffs and 7,817,438 balos, while larger. Trade. The U.S. will nevertheless was less than

will exert pected by optimists recently strong efforts to win concessions revising their crop ideas up to for Japan to enable the latter 'necessary foreign the 13.000.000-bale mark com- to earn the pared with the last Government Exchange the U.S. Government

feels its Far Eastern ally need figure for 12,511,000 bales.

for its economic well-being, Trading voltimes Interests in the Exchange to the anti-trust suit fled this week Elsewhere in the trade picture, day were:

against the Swiss watch Industry viewed. In Open interest and importers was

-soine-circles-us-wenktening-pari|

The Viscount 802 will be able

115 per cent. It expects an in- tion"

crease of some 40 per cent in the next seven years. modern British aircraft in ser-

tn

blind in an arca

tralia's airways system covered In the past five years, the 71,000 miles and included 500 | airline's trafe tus increased by acrodro

airline

pilot could by radio or fix his With while selsely by, radio aids vice and success attending the of 11⁄2 milion square miles, and

on the ground this

Bystom pro- introduction of the world's first video to cruise at 318 mpb. 10 mph

pavements for aircraft fleet, faster than the present Viactant turboprop

B.E.A. looks equal to 1,000 miles of first class which has established thirteen forward carrying nearly highway and had 100 miles of unofficia!

2,000,000 passengers this year. spect

runway and taxiway lighting". CL:ds wi hin the last month.

Rolls-Royce Soar The liny But in spite of the Increased

the jet engine is to be used by the payload, speed and range,

United States Air Force for target-towing purposes.

re-

−802 will · still have an oven.

better take-off performance

than present Viscounts.

A novel feature of the

10

The

Sear engine, first seen in publie

In the at the Society of British Air-

*K-

and, open

Month

Volume

Dec

BACKKE

Mar,

48,200

120,700

May

40,000

"fiscal year 1852-53,

July

187,000

22.300

257,100

Det

2,400

100,000

revenue of. £A17.40

Dec. Mar,

5.200

83. 100+

1.100

It gives million against a total expindi-

Total

13400

100,000

2.0.02.100 bates,

Ds

the

NEW YORK

800 craft Constructors Display last the airlines of Australia earned Serles will be the mounting of month, has a remarkably high a Fross the pantry and forward bulk-power-weight rallo. head on ralls. This plan has 1,810 . of thrust for a wee £500,000 been adopted to give flexibility of 207 lb., and it is of the in operations where the propor- axial-flow design. The Soars tion of freight to passengers for the U.S.A.F. are to be de- flown is nuclunting and dificult

to predict.

ture of £A16.96 million, leaving not prost before taxation,"

Australia's livered to an American arm, for record of fatalities per 100 aviation safety eventual installation

in a very million passenger miles in 1958 high-speed target drone,

"was second to none, and . it gave a life expectancy, of, 95 years if an individual was born aloft in an aircraft and remain- ed there until he died."

Japanese pilots will soon flying British-designed Canberra bombers-those twin-101, 600- (miles-an-hour.

raiders which

As aircraft equipment grows more and more complex, it be comes increasingly important to ensure that it is adequately packed before despatch to overseas, buyer.

En

Annual Report of Brigsh

for European Airways

the tri

• Year 1988, sheds interesting light on the record of Viscounts in service. During the year the turboprop air liner earned more than £3,000,- 000 of revenue and mado à net prost of

£300,000, over

This inel has led Passengers who travelled by appearance in Britain of, a new Viscount during the year on type of industry-one which

140,000 B.E.A routes totalled

packing and and their enthusiastic recepilon Pialises in the

preservation of delicate and

to the

Mar

Dae.

May

July

•Sept

Dec.

AMSTERDAM

Comin. future price index

28,65-70.

27.10 26.20.

40 stock 40 bonds

26/70 J.70

The market was steady, Prices closed today in guilders per kilogram, OIF. follows:

*..........› November

No. 1 rubber .No, 3 rubber. No. 3 rubber No.. 1 crepe

,

LONDON

QA

2.23 buyers

New York Foreign Exchange

$2.7023

208-21

Now York, Det Englanti4official

*30-clay future.. 3.21 buyers

00-day cutuTED 2.20 buyers Ausifolia di 3.43 buyers New Zealand

South Africa -

Canadian dollar rate:

The market was quiclly steady:

of the bargaining edge of the No. 1. Ris spot quoted at 24% U.S. at forthcoming GAT No. 1 fux root

GATT pence per lb. Prices:

meetings Government's

Thu

Hellerdent house term? nction Dec.

2415-29

231⁄2-2314

which drew strong protests from an fhiar.

American and Swiss Government Aruns July/Supt. and trade circles, was viewed as Central marketa, elf, boels ports: another development beclouding | Öci."

Prices of futures closed today the U.S. tarif policies, as follows:

Spot

Doc.

Alar

July

Dac,

bo

445-40

5.09-20 5,10

NEW ORLEANS

Prices of futures closed today as follows:

| have flown 3,000 miles 1101-

s'op oil tests,

Bot

Dec.

Mist",

The Japanese, desparately an

MRY

July

Def.

Dec.

LIVERPOOL

of turboprop travel was one of valuable goods, The need for xious to build a big air force the important factors leading to large export orders from many such specialist packing became quickly, plan to buy, 362 Can- clear during the war, and Inberras and nearly 4,000 other countries, including the U.S.A,1046 Export Packing Service planes in the next three years. worth £32,000,000.

Lad was formed starting with'

BRA's load factor-theon works.

proportion of capacity filed to capacity provided went up to 64.1 per cent compared with

02.0 per cent in 1952. The air-

line, attributes this partly to the

passenger appeal of its Viscount

33.00 34.49-50

34.00

...

PROMOTE STABILITY At the recent Monetary Fund] meetings in Washington strong emphasis was laid by foreign governments ted by the British the necessity, for strong U.S. tariff policy along, lower schedules to ensure and premola

©

New York Sugar Market

New York, Oct. 20.. World No. 4) tigne futuješ closed today "Unchanged to?" 1 point higher with sales of 8 con Future closing prices, America

America will supply most of the planes including the Can- berras. These are being built | can middling cotton, 16/18 inch, Domestic, No, 6'sugar fulltrúa under licence by the Glonn Marin pence per lb. were as fcret unchanged to . 1 point" tin Company of Baltimore follows:

higher with salów of 28 contráciu,

hkedly enough: activity:

The new Japanose; Air - Force

Now the company has ex- will get 800 Sabre jela, 200 Starý

and Ambassador aircraft. The panded to occupy three other fire jet night fighters, Lockiend load factor on Viscounts alone plants in, dition, and hus averaged. 69. por cont,

During the year the output

ton thile

sured in capacity

tap By (20. per

Duża ŁOWII WR reduced the intromittit of new alrerkte.

jető, trálnões, transports, opened a research centre, other types.re

quipped in modern styla wili:

a helicopter landing ground.

the company has a total 100,000, Wauaro font of packing

mant includ

helloopt

sex and electronic.com

When thale, propósod

coti

arizi

NOV Dec. Estate eripa thick .

2713/76-22-18/19 22 15/30- 15/10 unquoted. 251)

NEW YORK SILK FUTURES.

New York, Oct. 25. sower to cents higher with no Silk futures closed 3 centa entes reported.

Closing prices were

Dec

Mar

Muy

Aug.

Doc.

4.37b

United, Prom

Chicago Grain Prices

Oct. 25 dents:

Spot: close

Fulgh

low

Future: 30-day

90-day

Burrs

1,03 1/10

2.80

・Sellers. 1.03 3/32

1.045734 103 5/37

1.031/16 103

1.03 1/30 10377/33 - 1,02 20/32

G-month 1,020/15-- 1.0221/32

-United Pren,

Underwriter

K. Whart Dock

Provident

10:00 Wheelock ..

LAND, ETC.

HK Hotel

ICK Land

130

60 1331

40

* 8.30

$40 14.69, 100 @ 1415 780 7,85 3000 1000

0.90 11

Shel. Land. 140 13% Dumphew 20.30 20

Realty XD 2.10 13 UTILITIES

Tr... $0.40 100 2300

Stor

Deers 10

Yineli,erity. 18

C. Lat (0) 15.00

C. Light (N}}/1100 Electric 329% 1911

Elvc, 10.00 -2015

Telophone

INDUSTRIALS

Coment.... Dėž1⁄2 341h 4000 @

STORES, ETC.

Daley

Wation

......2480

.... 17/0

Crawford 24

COTTONS

7.03

1040

10.40

2300 @ 344 3000045

10 000 din 17,70

Nanyang... 10,10 10:23 MISCELLANEOUS

Yangtze Aftred

... 500

1000 17.90

4120 4.2231⁄2 (3250 (3,48231

London Foreign

Exchange

New York Montreal Amsterdam

Porta... Stockholm:

West Marks

Zurich

Lendon, Det: 35,-

2.70 17/18-2.701/

2.711-

10.47

1430

12.24

Others were unchanged.

Piéra.

Exchange

Rates

Business" was done in the local umofiel) exchange market - this miming at the folowing rates:

0.8. dollar) (per. $1)

Sterling notes (per £1)

Indonesian

ruplah (per 100)

Slam ficals (per 100) Bingapore (Sfṛalta).

Indo-China plastres: (per 100)

Rice Growing Possibilities In Australia

Sydney, Oct. 25.

A proposal by an American group of investors to grow rice in suitable areas in the Northern Territory of Australia, by an agreement with Australian Government, is close to being pleted.

ent