1957-08-26 — Page 9

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SCIENCE AND ENGINEERING

¡SEPARATION OF PROTEINS

The Animet Virus Diuusses Research Institute at Pirbright in England, had the first of three "Open Daya" recently, to mark the completion of a £1 million axtonalan”. and development scheme. The centre is now the most comprehensive In the work and untque in length of experience Foct and Mouth dianase.

picture

En

fasearch

research

RP-

In the worker is scen using an paratus for the separation of proteine in the serum of animals which anabies changes in the Immune state of vacoinated to ba observed And

animals

followed.

In

a spooch

Chairman

Mr Cheveley, of the governing body of the Institute, told lead. Ing veterinary Burgcons scientists from Western Europe,

THE CHINA MAIL, MONDAY, AUGUST 26, 1957.

TRADE and

COMMERCE SECTION

US BUSINESS ON DEFENSIVE

European Currencies And Syria Leave New Doubts

On Future Prospects ̈

By. JOHN MORKĄ

New York, Aug. 25.

The Soviet penetration of Syria along with the unsettled European currencies and some new doubts as to fourth quarter prospects combined this past week to put US business senti- mont on the defensive.

HONGKONG

EUROPE-CONSCIOUS

STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong- kong Stock Exchange thu morning amounted to approxi-

and the morning's transactions;

WEEK EVIDENT ON LONDON MARKET

London, Aug. 25.

Weekly markets: Stock markets have had another Europe-conscious week. Yes, yes, there

mately $287,000, Noon quotations is inflation in Britain but look what's happening in Europe, does this mean that we are all heading decade of disorder, like the between-wars

hares Buyers Bellers F:: DANKS

13 Bank

SITTING

c

Investors turned cautious in a market sell-off which plunged prices to their biggest one-day losses in nearly two years. The cost of living moved to new highs for the eleventh straight month--adding Doc ETC. further to the already troublesome inflationary pressures,

There

little

Developments

were

under

Over-Supply

Wheelocks 7.50

K. Whats..

Dock

120

401%

20 687 for

7.82 AUD 1.00

vident (0) 1120

12

" (rts). 1.10

60 120 2820 120

500 4 11.00

@ a 8.

8088% #8 vs 1

And there was

Because of overspending in preceding ch-

Bonths. Normally, couragement in the proposed the current quarter of the 1958 stocks are bull up for the win multi-billica-doller cutback fiscal year, experts think that fer season. Last year the in- defence

expenditures which for the Government to realise | tres.e amounted to 52 million could slow down the cennomle its hopes of holding by some barrels during the July-Oct. | LAND, ETC. pace. Meanwhile, tho auto eight "billion in the January-perior. Inventories at the end Hotel industry continues to lag. Steel March quarter, that

HIC Land would be of July wore at an all time shai Land the Cronemy's No. I propisa big bite out of the economy. high of 821 million barrels. still awaiting a pick-up after 11 is particulrly disturbing to the summer lulls.

Humphreys many experts in that these cut-

Realty backs come A tline when

RUBBER many plants are not worlding at The over-supply brought on Amalg. capacity even

current major price reductions on fuel

Trust. these major schedules. Business Week and gasoline in recent weeks. furILITIES that Pirbright was the only in. developments this past week! magazine notes that unless con- copping off about half the price Tram stitute of its kind in Euro-

Stocks Prices got their big-sumers swing in a buying Relvance that followed the con- Yaumati Bean country where Foot and

gest jolt in about two years on spree, the pressure from reduced troversial oil price the last. Liga (0) 38.5 18.00 12.00 230 Mouth disease was not endemic.

Monday The

Dow Jones distence expenditures "coming at Janaury during the Suez crisis. Electric 20.30 industrial average and was therefore fortunate in

Jest

8.23 a time of continuing agen

Meanwifle, Texas

producers Macao E. being

points able to obtain

Telephone. on the day, closing at over-all industrial .animala

produellon creased production allowances 478.05 which had not been vaccinated.

The one-day loss was will probably alee to send to about 31 billion barre's second to that suffered on Oct. (the country) into 1958 on on daily, The advice and help of Pir

68,287 over the INDUSTRIALS bright is widely sought in mat-

10. 1935, shortly after Picsident cconomic decline."

The current limit.

Increase ters affecting control

Elsenhower suffered his heart Total Industrial production was predicted on an expected STORES, ETC. and Mouth dinanae

altack. throughout

At that time, the drop has eased three per cent since encrease in demand amounting

Dalry was 13.27 points. Angst December, the world. There are now seven

1950 for

Watson Tet to about 100,000 barrels 1

ค day

Lone, C... issues closed lower, will altcraft reveredi known types virus, several of

112 activity of 5.0 because of the voluntary import thean limited #t prezent

and mining to

issues showing billion.

controls imposed by President Africa and Avia,

periodic The three

firmness, mostly on "Production cannot be ex- Eisenhower several weeks ago. African typer

hopes that and the Acian

cutbacks in perted to rise until some of the defence variety were discovered at Pir-

might

not goods storing up on the shelf bright infected samples are cont

be as severe ze anticipated, are roll," he magazine noted. International to the Instituto

olls under | from

many countries Including

РУББИТС ☐omo In

Syrian troubles and Latin America. Confirmation of

uncertain Middle diagnosis and determination

Ens situation--were the type of virus often

hard hit.

Feat

of takes

and

place at the instituto in a mat. ter of hours.

STEREOSCOPIC | A-SCIENCE

TV FOR

A-RESEARCH

STATION

of

the

With the 'Marconi stereoscopic television, perspective has been restored and the operator secs what appears to be a solid (Le. three dimensional) Image.

The

AIDS WOOL

the outloys

from tho

the

واء

1131.10

12 1.10 105 or 1.30

1.EU

*period?

The purchasing power of leading world currencies had, by the beginning of this year, shrunk as follows: France, 32.3 per cent; Grent, Britain, 29.2 per cent: Sweden, 28.3 per cent; Italy, 21.7 per cent; Canada, 16.7 per cont; Netherlands, 15.7 per 12.4 per cent;

15.40 cent; USA.

2019

# 73

Belglum, 11.4 per cent; Switzer- land, 7.3 per cent; West Germ many, 5.3 per cent.

ANOTHER FACTOR

Another factor in the week was Wall Street with the spec- tacle of the Dow-Jones index of Industrial shores, tumbling 12.40 polets to 473.74, the lowest sinco April 1.

has again So the tendency bees to get resources as liquid having been a shade lower its all-time lowest 04-15/10 sterling. Old Consols lost abillings, the 4 per cent fund- ings lost 17 shillings pence and the railway nationalisation stock lost 20 shillings. The Financial Times Index closed at 80.52, shade above lis all-time low, an July 16, of B0.43.

13.00 10.00

• 30%

10.20 10:40

1,470 1.50

103

+

10.50 10.80

1.45 3.00 3000 9 1,670

457 & 1.45 1.73

1.25

23.00 23.00 2000 m 23.80

107 100 100

103 18.60 1109 fr 12.30 200 m 29.80 27.00 27.10 2600 27.00 206 27.80 283 21.00

1002.75 3003 200 14.20

13.30 13.00 13.40 12.70

239 15.70

1500 m 13.00

COTTONS Textle Nenyaug MISCELLANEOUS

Entert.

4.00 -4.320 $.80 10 1000 19.03

21.60

some current

Venice a.day, below

H.K. & F.E the 22 com- invest. XD

6.50

4.19

0.30

con-

programme crude

Cement Repe

Under the imports are to be held to INVESTMENTS 1.031,200 barrels Some Resistance 200,000 barrels

levels. Some Autos-Sates are said to be panics affected by these Gulf Oll lost seven meeting some resistance at controls aren't too

sumer-Jevels. Stocke in dealer | their quotas. points on the day. Royal Dutch hands as of August 1 amounted want the Goverment to have Four of them with heavy Middle East com-

to about 750,000 units. Last mitments-dropped 2 points.

heang en adjustmenda. Despite Other leading oil issues bed year at that time stoclea totalled

some uncertainties, losses ranging from 1% to 45% talks confidently of a big year, hopeful

500.000. While the industry mest businessmen

stiti points.

the overall Stock prices have lost about whether the unsold cars can be

many experts are wondering economy will operato at high

levels. 10 billion of their values this moved. The industry is mean further casing in some segments

Many look for year's highs. In terms of aver while watching the introduction but this, it is hoped, wi ages, Dow Jones industrials of Ford Motor Company's new of the clone on Wednesday has Edsel Model for this past week.. elsewhere,

offset enough by strong nelivlty lost 35.63 points from the year's

The overall mood This is the high of 520.77 reached on July model to come off the assembly ever-United Press.

first really new tends to be more cautious, how 12. The market weaknoza is

izes since 1938. General Motors attributed to 11 number of

RESEARCH buying

factors, including the tightness President Harlow H. Curtice

| answered of money

Walter P. Routher's and high interest proposal for rates, concern

$100 car price cut over consumNET Ly asicing fears

Reuther's United of a pinch on Auto Workers to extend corperate proits and dividende, present contracl

their Although the market recovered years. He suggested

another two that the more than half of its first day's union losss in the two succeeding stability could bring economic sessions, it lacked incentive.

Inflation

by "announcing

regarding sound policy

1058 collective bargaining objectives instead of publicising excessive Iallation Americans found demands. The others of the

It has been

the

CON-

new оп

at

that

Industrials were

EL!

15

12

steady-the

kind of steadiness that goes-

with idleness and index reflected a

downward

from

own

con-

their slow drift last

week's 190.8 to this past week's 100.2.

Olls were under fairly happy with The Bank Of England tinuous pressure, Royal Dutch lost 1% sterling to 21% steri- ing; Britisa Petroleum deeply Statement

involved in the troubled Middle East-lost 12 shilings London, Aug. 25.

O ponce, The Bank of England state- | Burmah Oll, & shillings and Shell 21, rends as follows: ment for the week ended Aug. Transport 7 shillings. Taken cs

Notes in circulation...

a group, the oils have tost per cent of their respective highs while ladustrials,, Public (departe .......

by Government securities

their index, have fallen already Private deposita Other securities....... Receipts Ratto

что

some

be

Sterling 2,000 1,54 11,740,103 -203,32844

247,605,500 some 4 per cent.

45,103,905 20,818,503

7.0 United Press.

Wall Street Has

Severe Break During Week

By ELMER WALZER

New York, Aug. 25.

Stocks suffered their most severe break since Jan. 18 during the past week on ́a daily average of less than 2,000,000 shares.

Selling jolted the market on Monday on the Russian-inspired Syrian coup.

From then on there were recoveries on Tuesday and Wednesday but on such small volume as to make them of little consequence to the trading element.

4

VIS

The market's dullness seen as the only favourable fac- tor in the week's operations, It meant to the experts that stock was not being pressed for sale. The decline, therefore, repre- sinted a lack of demand rather than real selling pressure United Press.

A stereoscopic tele- The use now being vision camera unit made of radio-isotopes specifically designed for by scientists in the study use in nuclear research of hair and wool growth is being supplied by on sheep, was described the cost of living, skyrocketing to industry glunts, Ford. carich 'Marconi's to the British recently by Dr M. L. Alw peaks for the 11th straight Chrysler, have not yet

month. The July index released menied on Reuther's suggestion. Atómic Energy Au- Ryder, of the Wool In-fus: week advanced to 120.8 per

Reuther said that the aulo thority research station dustries Research Asso- cent of the 1947-49 average, a union would take this cut into

of gafo 14 per cent over the consideration during the next -at Harwell.

ciation, Leeds, when June figure.

This means in round of wage negöliations, but

It will be used

Amerleuns paid in he failed to spell out preciély with special addressing the British effect that

July $12.00 for the same things whether the union would hold remote manipulating equipment Association of Dermato- they bought about ten years ago the wage line. His novel sug for the handila ni a dlatence

logy.

for $10. Some 1.3 million gestiun cnused considerable of dangerous radio-active

workers-mostly in the uto, comment In American business materials. Some form of visual

Many farm equipment and appliance dicles, Dr Ryder sald that during dustries will get automatic Reuther's motives end wonder- questioned ald is necessary for operations recent years much Interest has of this kind. Ordinary gloend-

ut been

whether escalator ed niso shown by wool research wage hikes under circuit television has been tried,

workers in the relation of nut- clauses in union contracts. Most makers could cut costs by $100 but the absence of perspective rition to wool growth. The use

increases will be about three and still stay in business. in the screened image makes li of radio-isotopes for Inbelling cents an hour.

Improvement difficult for the operator lo nutrients, so that these may be

The cost of living is 3.2 per juxige the distance

A dull decline or Thursday traced into growing wool and cent higher than in July a year Steel Although there has way followed by another Joli on manipulator's "hands from the hair, followed an investigation, And, according to Govern- been same Improvement in some Friday. objects to be handled.

made by him of the blood supply ment oficials, there appears to lines in recent weeks, the steel The net result was a drop of

be little hope for any halt to the industry is to the wool root,

rise for August. Meanwhile, orders from. the auto

banking

12.46 points to 475.74 in the All the substances of which while the Government continues to lift ils production schedules

Industry industrial average on the week. tho wool fibre was must reach the growing fibre by economy

composed its probe of steel prices and the over the 80 per cent levels

This is a low since April 1, way of the blood stream.

Federal which generally, It Reserve Board

HARDER HIT operating William Mc-ince July 1. was found that the wool (and Cheney Mattin hold out some hair) root is surrounded by a

The auto industry uses "over Railroad. shares were harder Marci stereoscopic

network of, liny blood vessels

hope for the future. Ho sald 20 per cent of the total steel hlt and their average sank to a camera channel consists of two which extends up to the point their 24-year peak-aru levelling the key to steel's prosperity. 138.21, off 4.53 points

ho thinks money costs now output and as such is considered new low slace Jan. 17, 1955 at industrini Vidicon cameras, two at which the Abre hardens-one- control units and two display third of the distance from the

Gut. He even thinks they may Auto Inventories are soul to be week. The utility average was nonltors. The carnexÜS are base of the root

towards the possibly decline."

low at present, and the steel off 0.95 point at 07.51, a new mounted side by side, with their skin surface,

Defence Cutbacks-Economists industry is looking for en up- low since Dec. 20. Incy of sight inclined so that Hair and wool contained a and other expert observers ureturn in orders from that quar-

Daily sales, which ranged they intercept at the "point of relative! - high proportion of having same second thoughts ter in Septembers There's talk from a high of 2,700,000 on interest".

sulphur, and inle was associated about" the impact on the thut the fourth quarter upturn Tuesday to a low of 1,500,000 on with the hardening process.

the proposed might be at best only moderate, Thursday, averaged The left-hand camera of the The uptake by the growing fibre Government effort to keep de- with operating schedules a few 1,084,305 simres, against pair (corresponding to the left of a compound labelled with fonco spending to the 38 Eulion points better than current average of a mere 1,700,000, eye) is connected to one of the this clement had therefore heen level. At the current pace, level. The appliance makers Haw low since Aug. 2, in the manitar, which thus gives a studied with the use of radio spending in Ilscal 1058 would appear to have reversed the re- Brevious week. left-gye velw of the scene active sulphur.

come to about 42 billion.

eent pattern of operations, some The market has been in similarly the right-hand camer

Moderate radio-activity had Economy Plan companies

workers almost steady decline since recalling and monitor give a right-cyc|been detected in fibre roots

after severe production cut-year's highs were touched γίσιν.

within a few minutes of an

The economy plan is to cut backs Steel 11 looking to new July 12 in that paried indus animal boing Injected with a armed forces by about 300,000, business from this October, as trials have fallen 40.03 points The two .monitors

compound labelled with radio, | civilian employment in defence well arc

furm in their average: rails, 14.30 positioned in the dieplny cabinet active sulphur, proving that the Installations by about 100,000. machinery industry.

points and utiles, 4.19 points. in such a way that the pictures

radio-active compound must Last wock the Navy cut back on i Patroleum Over-supplying

MARKET LOST are superimposed by means of a enter the root immediately after a programune affecting six | which has been plaguing the semi-slaverea ritror. A vertical. injection. The amount of radio- types of planes to reduen out-Industry may be whittled down,

the activity inereased in the wool lays by

Some according te oll experts. The market lost 6,000,000,000 doll Exchange Rates while the root during the first few hours 18,000 civilians are earmarked (rate of " accumulation is op-a valuation of listed stocks, It

serund after injection until a deunite for the unemployment rolls by parently being slowed down and was down 20,100,000,000 dollars Bushtues was due in the loret

the Navy. In line with this if restraint 10 exercised by pro- from the year'a high based on unofficial exchange horizontally peak was formed.

„market · This It svérzed likely, therefore, trend, mijltary fuel buying will ducers, ofçials are hopeful the the 800-alock index compiled

morning at the following in If the composite that different substances entered drop by 15 to 170 milion in the excess may be licked. A total by Standard & Poors.

U.S. dollar (per $1)ASC

0.01 On that sterilne našes (per £1) .... viewed through

The oil cut of 20 million barrels was put basis, the average loss of each | Andrien nodos (per cilj... the growing fibro at different current fecal year. suitably polarised spectacles a points, according to where they amounts to 10 to 15 per cent of into storage last month com- | nhare worked out at 1.33 for the

Indonesian rupiah (per 100).. 1030 storeoscopia užfect la obtained, were required,

the programma,

pared with 70 million in the two wook end 4,67 zinao July 12,

_dos_(per 100).

270

ly polarised fiber face of one sorter, other is covered by a Alter which is

COVETA

polarised.

Image

ير

economy

of

$90,000,000,

ងទ

from the

ол

During the past week

the

Poland Raises

FAVOURITE

1

The boom foreign bonds-the Germon. Young Loan

stends alone as a general favourite; ike non-assented goined one to 150% sterling.

Japanese suffered a good deal of selling. The 1899s both as- sented and non-assented, lost 22 sterling.

Dollar stocks

were marked down severely, due to the heavy falls in Wall Street pricas. Unite Press,

WEEKLY

COTTON

GOODS MARKET

some cases

HK Private Godown Rates May Be Raised

Lum,

Mr Wilkie Manager of the Wing

On Godown Ltd., de- clined to comment on Press reports that pri- vate godowns in Hong kong were going to in- crease storage rates by 20 per cent in mid- September.

It was learned that the public godowns such as the Hongkong and Kowloon Wharves and Godown Ltd. and the China Provident Loan

and Mortgage Co. Ltd., were not concerned in such a move.

Considerably more cargo had been coming into the Colony in the Inst few months, possibly because of the early arrivals of cargo which were originally to be shipped here around the Cape of Good Hopo on the nasumption that Sucz would atil be closed, it was learned.

Large quantities of rice, sugar and beans have also been arriving at the local godowns in recent months.

NEW YORK COTTON

MARKET

New York, Aug. 25. Trading in .cotton futures proved a routine affair this past week, with prices slipping back a bit under weight of neglect and one or two adverse news develop- ments.

For the most part price changes were small New York, Aug. 25.

and turn- over light as traders held back showed

The cotton grey geods market pending crop news and develop-

little this past week,

more interest ments on farm legislation. but hand-to-

The outcome was a loss on the mouth buying still is the rule week of 8 to 31 points, or 40 as it has been since May. conts to 1.55 a bale.

But la

buyers

Some were willing to pay fractionally Secretary of Agriculture Ben- sclling accompanies higher prices and to talk more son's reiteration of his recent future orders. optimistically about placing statement suggesting that the people in the trade were collberalisation

solution of the farm problem lies On the other hand, plenty of

in lower price supports and

of planting con- tent to watch the stock market's trol.

downs ups and

for possible Favourable weather and crop clues as to probable retail de-

news, plus continuing uncertain- mand.

ty over cotton legislation and dullness in the textile trade, continued

to dampen buying Light liquidation and hedge

LONG SLUMP . The optimists In textile enthusiasm. markets generally continued to

Custom Duties insist, as they have for several selling, urders were absorberi

Warsaw, Aug. 25.

Only

Poland today raised

duties GA

an

a

weeks, that inventorica are de-chlofly by trade buying and local clining because · of the long covering. buying slump and necessity will

Now crop

months reflected custom soon forte some upturn.

diminishing chances for con- automobiles, razor

on. Most weavers' again showed gresalonal action

cotton blades, black pepper, plastic little desire to move goods

legislation at goods and chowing gum. The far forward

United Press, Increase goes into effect on Sept. prices-especially

orders at today's with a new season about to start.

an

the

1.

The percentage of the Increase will be as follows

on

Cars, 500 per cent, chewing gum, 1,400 per cent; razor blades, 50 per cent black pepper, per cont-United Fress.

50

tho

on

this session

The same quiet prevailed in The Bank Of France

heavyweight industrial fabrics.

Traders again reported short- the

eges in Manilla hemp all way to the overseas sources.

The raw wool market is stil marking time waiting on the resumption of Australian sales. -Valied Press.

NAMESAKES

· Statement

Parls, Aug. 23. The Bank of France statement for the week ended Aug '14. rends an follows:

Frana

Total gold holdings. 201,204,202,433 Total olher currencies 12,801,207,944 sight balance abroad

11,771,000,000

Answers: Anita, 2 Planter, Advance to staDELLA-

tion and 3 Ballantrae, 4 Chaires, & Shot, Total billa damounted 2.050311,072,976

15.62

12.37

6 Zanziber, 7 Scenery, 8 Para-Danknoten v circules die. Bet, 10 Camera, 11 Seroon, 12 Filma.

****** $317,000,000,000 Current accounds and

Anthony Steal.

deposi

**lickied Press:

CA