1957-08-19 — Page 9

SCIENCE AND ENGINEERING

INSHORE ULTRASONIC

THE CHINA MAIL, MONDAY, AUGUST 19, 1957.

TRADE and COMMERCE SECTION

Pare

US ECONOMY HAS GLOOMY WEEK

SURVEY CLEANING OF Business Circles Become

|

CRAFT

HMS Echo, the first of the new British Echo class of inshore survey craft, has been launched by J. S. White and Com pany of Cowes, Isle of Wight.

The new craft is belog bullt to curry dut constal and burbeur hydrographie purvege

EQUIPMENT

Less Optimistic Over Last Quarter Prospects

By JOHN MORKA

Ultrasonic cleaning of plant and equipment, it is claimed, removes dirt without damaging the surface to which it ad- heres. Ultrasonic energy fed into the

New York, Aug. 8. cleaning-bath gives rise This was a gloomy week for US business. Interest rates to cavitation on the sur- moved to new highs. Business circles word less optimistic

of face

object about fourth quarter prospects. uny The ecast of Britain for the immersed in it, so that widely with now billions in valuations wiped out.

Stock prices plummeted anciits fer auch work are loose particles, oil films,

#biky

navizate shorust

and other con- water, to obtain depths and to

taminants are removed. detect the existence of wrecks er cbstructions on

the ten bed coupled with an ability fo the cruft's position with com- plete accuracy.

msund

Reyal Navy. The prime require-

10

fx

Tac Echo it of 100 joas dis- placement and 107 feet long. She is equipped with reli-soundero and dies and carries sirveying equipment tor carrying cut trianguletion ashare, which pro- vides the brala for feting the crnit's pelton affent, by horl- zontal sextant angles. She also base most modern radar, with facilifts for mensuring ranges accurately for praillot Axing.

Her erow at 10 Includes Three surveying offers and three surveying ratings. She le a self- corsaining unii having her own echo sounding launch for shol- low survey work and a modern

chari teem for survey plotting and compilatica.

mantle.

And many worried over the squeeze on profit margins; new price cutting as a result of keener competition; fears of over-production and the tight money situation generally.

Overall the business mood wcy more bearish than in past munths.

The núvattage in repair an maintenance of ultrasonis riean- itig is that it is often possibl! to clean entire nescmbiles with out the need to

There were these major deve- Standard equipment for ultra-lopments during the past work: Fonte clenging has been intro- 1. The

on bakers yleld duced by Dawe Instruments, sed in financing foreign trade acceptance bmwidely Lid, 99. Uxbridge Road, don, 1.5. England, in the Dawe

transteilons--was rcised fon the third time In a week. The latest type 413 ultrasonis generator which provide a incans of driv

hike on Wednesday was 4 of serice ice

one per cont, on top of of standard

two previous advances of 1 and of une per cent.

transducers.

3B

It draws only ubou: 230 watts from the mains and cuen generator supplies power a klouyeler, suficient fur durcis having a teal area 30-40 quare inche

frans-

of

one

This area is ample for The hull is of all woed contenderd gelen tanic or for wo stration in which extensive use balf-Elch traks and coel tark has been made of glued jenishes the tri sducer bull to the ated members, Main machinery bese. has been shanled by Davey Paxman & Co. Ltd.

This vessel and others of her clars (the keels ef twe incie are about to be fald) will replace Launches the surveying motor which were built in the erly 19403

harbour defence Jaunches. These craft have diam yeoman service during and siner the war and are now well past their prime, said an Admirely

encouretineri.

PIT PROP TESTING MACHINE

In association with

Alternatively, standard fully- immersible transducers 24% inches by eight inches by three inches high are available | convert existing cleansing tanka

ter tresenie (peratico,

:0

Cleaning icmperatures frem 100 degrete Fahrenheit 10 100 degrees Fahrenhelt usually gives the best results. However, the fransducers

even

can be operated in liquids at dempernlures up to 170 degrees Fahrenheit.

Werke at

higher tem peratures can be done by con- tining the hat solution fo separtie ecuininer and trees- mitting the ultrasonic Crergy bath

through en Intermediate

containing cooling colle

Q

Britain's National Coal NEW METAL

Board, the Chatwood En-

gineering Division of Chatwood-Milner, Ltd, 68,

PRIMER

Holborn Viaduct, London, A now metal primer, a zlue-

A

based moteris which, I s E.C.1, have produced machine which will sub and steel in wet, damp and dry claimed, can be pointed on from jest pit props and chocks weather, and can be applied to the kind of load they under water !! necessary, has are required to support been produced by Corrosion Li of Southampton, England. Universal,

undor actual conditions, Known as Glopane and show their behaviour,

has coverage of approxlinate-

ji has

ly 24 rect to the pound.

Lure Money

Un

༞

HONGKONG

STOCK EXCHANGE

Our Own Correspondant

Business dono en the Hong- kong Stock Exchange this morn- ing amounted to approximately $431.000. Noon quotations and the morning's transactions:

Share Dayers Kellero BANKS

Hante.. INDURANCES

Union Lombard

day, he said, adding

BHUPPING that say- Waterbout ings and the money supply are Wheelock.. now going up; and this appears to be a trend in the right direct. Wharf..

DOCKS, ETC. tion, Martin's forecast of con- Dock

3. Slock prices suffered their widest one-day decline Wednesday since August 0. the Dow-Jones Industrial over- age dropped to 185.93, off 0.21 points, or 1.20 per cent on the hig 2.14 points, or 1.48 per cent, sentiment. day. Ratis gave ground also, las-

to 142.18: A number of reasons were advanced for the general market decline.

as:

***

116

Balce

905 19 950

13

7.30. 1095 7.00

FRANCE'S ECONOMIC

TROUBLES DUE TO POST-WAR BOOM?

By ARTHUR HICBEE

Paris, Aug. 18. French Finance Minister Felix Gaillard set the wheels in motion by unofficially devaluing the franc. Now he is waiting to see which way they will turn.

young

The

financial wizard hopes this devaluation and a new "austerity" programme wilk return the nation from the brink of bankruptcy.

But most experts-and many Frenchmen-believo

the 37- year-old Gaillard's revaluation was just a starter, a prelude to new wage and price spiral 12.30

this nulum and a general de- valuation of the French currency

finued restraint imparted a largo | Provident .. 1.18 101 1906-11.00

dose of gloom to the business.

(te) 1.10

The biggest puzzle to ob-LAND, ETC. HK Hotel.. servers, however, has been the ink Land.. failure of the stock market to Itumphreys rally. Something like 14 billionRealty in valuations has been lost since RUBDER the July 12 high, when the Dow- An Jones industrial average hit UTILITIES a520.77, within a fraction of the all-time high of 521,05, April 6, the 1050.

Mentioned were mich factors

Reductions ranging from five to 10 per cent on heavy sheet glass for offices and homes; one cent per gallon decrease in The new males--highest in a gasoline in some parts of quarter century and upper-country and lower prices rang- centage point in the past week from five to 11 els

range from 1% to 4 for 30 barrel for heavy industrial Cuet; to 180-day bills. The yield the new advances in money rates hike was an attempt to lure and general disappointment with new investmely from foreign business prospects, keyed main bonks, and is closely limited with financing of 500 million of cotton experts under the Government's crop-supporting programme,

2. The Treasury was forced to pay the highest interest rates for short-term money since March 1933. Its Issue $1,700,000,000 during April 15 ensi a average of 1173 per cent. Bariler is past week the yield rate on its regular 91-day bills was 3.480, dating back to 1933 levels. The new bill rate is sharply above the 3.308 per cent the Treasury paid inst week,

The bill Issue Is line frat which the Treasury offered since the Federal Reserve Board advanced its rediscount rate to 34 per cent from three per cent at four regłorial banks.

Last week, the Board announced that it had approved the 3 per vent rate effective from Friday at Boston, Ailanta and Dellas.

ly to

܀

testimony by Federal Board Chairman Willian Mc- Chesney Martin that infation in still the No. 1 danger to a stable economy.

Price Cuts

Year's Low

The July 12 high reflected a rise of 63.95 points from the year's low hit on February 12. The Improvement between these levels was about 10 per cent,

to

Tran

114 6 1.30

300 1.121⁄2

1.45

35 13,00 1000 30) 3074 700 JOAN

1.50 8000 7 15

ht

1.418 1.50

art.

23.78 23.00

Taumati

103 107

C. Light .. 13.70 18.27

1000 (Rts) 11.00 13 100 Electric

20.00 1000

Macas E. Tel

INDUSTRIALS Courient Amoy Can__. Dairy 16.40 13.10 STORES, ETC.

Wation COTTONS

Texisto

200

at home and abroad.

problems

Frailee's economic come the midst of its mos prosperous postwar

perici. Industrial production has in- cruasta 47 per cent during the Steel pro- past four years, dutation is up 62 per cent over 1950. The nation is producti 38 per cent more iron ore each year. It has 70 per cent more 20.70 electrte power and produces 27 per cent more food and form products each yehr.

20.80

13

10.05

10.6) 27.90

4000 47 24

33

15.70

12.00

4.20 4.823

10.60 10

4.45

NARYANEOUS

Ch. En... Vibro INVESTMENTS Allled

WEEKLY

I

As of roon on Friday, how [ver, the Dow-Jones average wes 484.85. n icas of 3502 from the July 12 high. This means in effect that 54 per cent of this Martin recommended some year's rise has been wiped out.

Failure of market prices price cuta, inventory adjustments and the curbing or industrial hold above the 490-mark has production. He emphasked that served to rel off talk that the ten billion in gross slock market may well be head- bout

product national

Jepresents ed for further lows in the marked-up and price. increases weeks ahead. The 400-mark in ond not increased goods, with re- the Dow Jones average has been sultant

imbalances Jo the regarded as something of economy. Although he said the strong resistance level. Board was not taking "overt The usual procedure In one selien" to make money Ughter, (of these sell-oft periods is he called for reduced governs wipe out one-third to two-thirds ment and privater spending and of the recovery. If the decline a continuation of crodit re- goes to two-thirds of the rise, It straints.

will bring the industrial average down to 475.33. Not a few experis think the whole rise will be wiped out eventually in this By WILLIAM T. PLUNKETT correction.

would leave

Spending which is outpacing savings is the main problem to

VOLUME SHRINKS

AS STOCKS

DECLINE IN NY

By ELMER WALZER

"New York, Aug. 18. Stocks declined again during the past week with volume shrinking to the lightest level since the end of July,

That

the average at around 455.

ID

NEW YORK. COTTON

MARKET

New York, Aug 18. Some experis foresee loss. of

Cotton futures trading,' the 450-level followed by a rally before the first week In Sep-¡became more two-sided tember. The period of correction this past week as the by the end of next month, these dividing line widened be-

should probably

be completed

experts naist, While there

are expected to be rallies from tween old and new crop time to time, not a few of the considerations. market observers are advising

No Incentives

were

FULL EMPLOYMENT

ALARM OVER PRESSURE

OF STERLING

London, Aug. 18. Chief feature of an unhappy stock market week has been álärm over the pressure upon sterling which had to bo.

With full employment-only supported against the

73.000 persons applied for jobs

in May out of a population of dollar

43 million-Frenchmen must thought

and-gri m

against the

wait six months to two years deutsche mark, as well.

for new cars. They are buying televisión els as fast as icy come off the production lines.

It is this very boom at home which

France's causing economic problems, It is the

is

the

ladeed, by Friday when the stock market closed, the pound had reached in addition, support levels against the no simple Tact that France is in- French franc, the Swiss frane, porting mere than

It is the Austrian schilling and the oxporting,

By that time it realised that

it was sterling trying to fund-

It currency e-Italian tro. serves are all but exhausted and Its credit in one.

At present all that sends tion as a Pan-European currency between France and bankruptcy rather than the United King 15 200 billon franca (420) dom's own currency which was million dollars) in the Bank of suffering the strain; in other France, gold. This is melling

away at the rate of 50 billicrds, that it is an Europe of two-world-wors, which is under Franes (120 million dollars) strain and not Britnie, but the morth.

solution was anything but clear. One trouble is the Algerinn Var, now costing about Dic

TWO YEARS AGO billion iratis 72.8 million dollars) o day.

Two years ago when sterling INTERNATIONAL DEFICIT appeared to be approachlig convertibility tho European Another reason France no Payments Union drow up, OR enger can keep up with its paper, a plen for the day when gradual culling off of American International defelt Le the convertibility arrived. foreign aid funds,

U. Bald, which ran at about 500 million dollars a

year

wor

moment

Sterling, with its par of 2.80 dollars and rise us high as 2.954 dollars, could fall as low as 8.718 dollars. While nearby months held on during the Indo-China

The Germans háve | lightening of portfollo of un n fairly even keel just below dropped off to about 128 tillon talk of permitting fails and tides revived the iden and there is I wanted-items on thrae alles. the 24-cent line, new

None as yet is advising dump-months

crap deifers this year.

of 5 per cent it the caso of subject to Thus Finance ing stocks.

Minister sterling-dollar, Alternate railles and declines Gallard faced an almes im

between 2.60 doliars and 2.90 compared with over o ranga of $2, a nie, possible siluation when he the present range between 2.18

At Friday'e close the list begun his

programite of dollars and 2.02. ruled one point lower to 68 "austerity."

AL the points higher, or off five cents to up 2,00 a bale compared with trage balance inte line and he He Had to bring France's

there is allence. tha

had to do it without cutting Headlong selling of British COVERING imparte.

Government stocks against the buoyancy reflected

Gaillard's first move was to unknown future seama natural tive buying necessary to bring anctive covering through com-cut the 1987 budget. It had a enough. Chiet victim Was War mission houses and the trade projected deficit of four blillas Loan which tumbled 43% to About the only thing that is following the House Agriculture Collars. Br threatening to 634 its fowest in history, structure from breeding any

Business new in market is the fact that Committee vole to postpone quit, Gaillard obtained A Treasury 15 per conts, betier more rusi,

feli It can be painted knocked the industrial average Machines

points. there no longer is unanimity on consideration of cottoh legisla-1.700,000,000 sellers reduction known as "Dalices", fall C# and down to 188.20 of 8.38 point: Mengel fall 114. Rotum & the future either of the markettien until the now Assion in ita the budget, meanings Old Console £1 to £40, D

Most was down 19%. Lakens or of business.

money for Frenchmen to spend fow shillings above its all-time long-home.

The finish is battleship grey which becomes a shiny metallic surfdee after weathering. After brushing on to wei steel. Glopane Universal will

dky hard ire about 24 hours 10 The market has been in a decline since the withstand abrasion,

Icaving a tough cost of eine that renders industrial average all but hit a new all-time record any rust Inert, and incapable of high on July 12, developing further, and protects

straight on to rust with merely

3 brief rub down with a wire brush to remove any flaks er Jumpy rust,

Lawn Mower Cuts The Corners

A

now

This prst week's sell-off International

on the week; railroads 142.74

Valuation of all listed issues sack about 4.5 billlon on The week and was down by more than 4 billion from the July 12 close.

SALES AVERAGE

1,700,000 Sules averaged shares against 1,084,459 daily In the previous week and 1,006,012 u year ago.

at a time The sell-off came

mower designed to help when business was holding high

gardeners

motor lawn-

"cut the corners" has a 14-inch out and is equipped with a ro coil starter.

-

figures and when July Washington showed gresa tional product and personal in- come at a new record Production in July hald

from

1896

The Bank Of England

Statement

London, Aug. 18, even The Bank of England states, with June but above a year ago, ment for the week ended Aug.

Jacked snap., 14, reads as follows: The iharkei

Wall Street has been explain ing the stock markot's fccer.t behaviour as stemming in large

part from a lack of now in- contives to generate the specula

| new. record high.

Unanimity

was

January.

Thi

A week

removed

10 tho

CHIS

jow.

Olls

at

off 3.28; y GB.47 of 0.74. Steel was off 4 and declines of In ordinary elrcumstances this

two to six points were noted in lack of unanimity would be seen overhanging uncertainty. Under INCREASING EXPORTS Newmont Mining, Aliantle Coast │as a favourable factor. Marketone bill, surplus cotton would

CHANGES MODERATE Line, Araeonda and Du Pont, men

don't like unanimity in be made available to domestic The Street

Then he went after the prob- disappointed anything. Was

mills at the low world price, lem or increasing exports. To

Leading industrialp were with the small rise given rall-

Early this year, there

with the Government paying do that he had to "unomcionly mostly Idie and the changes ronds in their freight rates and practical unanimity in a dreary the producer a subsidy to com- devalue the frame, from 350 to

were moderate, The, Filipetal equally disappointed over fallure outlook for the second hal of pensate for the difference be the dollar.

Times Index élesed do shly to grant any airline fure cine the year and the market de-

tween the market price and 90 His devaluation was uncficial 0.8 points to 198.0 compared with ---United Prees.

per cent of parity. clined on that view.

Its 1937 peak of 207.6. in that France still pretends the Later, fresh uncertainties de-frane is 950 to 420 to the dollar.. Then came an abrupt change.

Wyers 1ower to tear unanimity

except legislative Technically all he did was slop

for Royal Dutch which was in a goodveloped third quarter and a sharp rise picture. Some reports indicated a 20 per cent tax on Imports, unchanged 29 sterling. in the fourth, The market rose possible Senate consideration of (except raw materials).

But British Petroleumt and until it all but achieved the re- bill which would allow an The move will affect French-Burmah both fett 3/- and Shall

alloltrients men cord high in industrials in mid- increase, in Bertage

but will mean little to Transport is ed while the support rate would be forelment, to July..

the tourists, Speculators swarmedt Inlo lower to, or below, 75 per cent businessmen atid buyers of gold shares, tegardless of the of purity. The loan rate for French champagrie,

and fact that only grand dow mines the 1987 arup was based on 78 perfume.

with superior talent canthaka per cent of parity.

Gaillard hopes the new money out of gold at 30 dollars The new dual drive" enables

Now this unanimity has been,

LEGISLATION the machine to be driven as a There was a tendency to ignore Notes in circulatio...

placed by some skepticism

devaluation will bring more ouaco, Anglo-Atheelcan and 'Tradera hoping that construc-money whole as for power to be applled it rather then dump

2037.002 about business prospects in the tire legislation can be passed fareign tourists who come to between 3 and 0 shilings

from the five-million Consolidated. goldstelda gained. to the cutting cylinder only. However,

stecks. Public costs

275,900 final three months of the year. tearly in the next session of France each year into bonic Young Loan non-posented up The machine, basically, a

It toole only a small Privato

Gemons were strong with This greatly Increases manoeuvr mount

c10870,105 Market men; therefore, do not Congress, to apply on the 1958 and thus Into French foreign sicel hydraulle pres of link ability and enables the

of selling

Government ageurities 10 reduce Others securities

35619.1 appear to have anything to offer exp pointed out that it next exchange reserves, form, weighing nearly 15 tons to work in awitward and confined

User prices rather severely,

tercipty

$1,19,200 which

20 d the asserted up 2s; would bolster Natie The market imado a recovery

the rear loan is higher, cotton wil and standing 23 feet high. The paces, corners, narrow borders,

But fow French bladd market Dawes Loan, Both essented and market. Also the adverse list further prico on Thursday and another spall

itself out of frame is a steel fabrication and and in and around shrubs.

hasn't been

non assentée gained £1, expanded to any market

operators, are worried. the foremost welding authorliics

and close percentage. The manufacturers, who have Brokers sold the latter

oha in the Friday sasalon.

"The omical frane never Japanese, where changed, were have assisted in the design to large export markets in most have risen further but with the

extent merely the change in wise to cheaper synthetica fourth quarter sentiment that

quite catches up with the un-lower but only the 1910s,npas give maximum

Nearby deliveries ruled quiet official trand one said the past ned lost as much as e- rigidity and countries of the world, will also weekend at hand many elected

showing

has developed.

most of the time. The slow-week-United Press.

United Press. accuracy when conducting tests, be

thoir recently

Пecently, instead of weighing [down in the demand for spot to play safe and remain out of The machine has two ranges, developed 18-inch rotary grass

market factors es favourable or cotton, along with prolonged the market.

New York, Aug. 18. 0-100 tons and 0-900 tons on cutter, designed for use in such

unfavourable, Row cotton, sports

maricet exparts | dullness In the textile' makel, the lower

by have tried to list items as in and crop theertainties acted to Aitled Places as orchards, paddocks and

HARD HIT

destination repotted in bales nationary or non-inflationary, curb market interest pending I plectrohydraulic operated poultry-rur. This machine also Incorporates the recoil stazier.

by the New York Cotton "EX-

And while this

being declivo, dévelopmenta" change for the 1987-88 season done, the influence of inflation

Answers-1 Retrain, 2 der Amarlean Shipbuilding was

Raw cotton exporta for the many, 8020" 4 TYTRIía, d'Ice- All loads, together with rate and has already been distributed

to Sweden, Denmark, Holland, hard hit because it reported-los-through Aug. 13 were as follows has seemed to have lost some of 1962-68 sasson through Aug. 13, pression, a Compe 7 zitab, amount of "gold", are Belgium, 'and'

Germany,

its scope for the market:

· France, ing money on some of its gov. continent

as reported by the NY Collen Asempury Midranmeralda (per 1 readrded as the control panel Swizarand, New Zealand, Southernmont ship contracts. The sirent

4100 Recent markets ikven's bien Exchange totalled 120,309, bales Overture, 11 Jan2011 Hou« – Starting motec (pH 43} provide des report Abica and South America. stock said down 23 points during ada

Ce able to produce a good rumour, compared with: 170,001 bales or rides, is Boore, 1 Concerto, 15 ian modelpry on the performance of each Qualcast Lid, Victory Road, the week to feature the down- Rams period last year

or even a prediction-United |the same period Iahat season. — Orchestra, 19, Oberon. | Derby, England.”

WENT Ualled Press.

PENED

politional

edntfol.

ها

particular type of strop.

«ido.

sterling

12.03.113

24.3.

United Prem.

might NEW YORK RAW COTTON EXPORT

Total for REDAKTI®

*goncluding intermündis

· 28,001

17001

Pram.

SUAL

NAMESAKÉS

Taux vendelssohn.

Exchange Rates

·Busineer- wair done in 154' dänat unofficial

as 100 following rabaak

41) Indonesian rupiah (96r 100)

Riser Lical (pas 300)".

BIERKODIN (širnīta)