1957-11-11 — Page 9

Page

SCIENCE AND ENGINEERING

THE CHINA MAIL MONDAY, NOVEMBER 11, 1957.

TRADE and

Page

COMMERCE SECTION

Sputniks-An Economic-Military Threat

Welding A Transistor US Launches 'Operation Confidence'

and other

semi-

Several million germaniam transistors conductors will be produced next year by an ultra-modern plant recently installed at the Works of one of

biggest radio

manufacturers.

Britain's component

ConTM

In this picture the Deelor ring of the Germanium base of a transistor is being to the appropriate welded wire, The three connecting wires of the transistor have been sealed

previous operation.

In

and is far beyond the scope of chemicaj analysis.

The transistor can, in many valves. canes, replace radio Smalt and light in welchst, a transistor measures only Vá inch in length and a 1 inch in diametry. It can be used in hearing aids, microphones, computers and in many kinds tent measuring of

and equipment, as well as able radios.

port.

Transistors Are basically

amplifiers.

A small

amount of power.

Applied to a transistor can Transistors are produced at control the relcase of a much larger amount of power from the factory to a standard of

dia terenon The battery, part in 100 of one purity

ordinary million.

between them and The standard is so high that it can be measured vives is that they work at a

very much lower power, only by lis electrical effects,

A

MAN WINS

JUNGLE

RIVER WAR’

FOR POWER

The greatest power-producing plant on earth is to be built in an isolated region in the heart of the Belgian Congo, And that could be one of the biggest assets to the industrial output of the West.

It will cust about £550 million. And besides giving benefit to Europe-the area is rich in untapped mineral deposits--it will bring further wealth to the world's richest colony.

The site chosen is Inga, on a output were quick to side with

of the violent stretch

Congo the Opposition. River where the savage waters plunge 300rt. in less than miles.

It is an insignificant spot on the map between Leupoldville, the Congo's capital, and Matadi, the main port.

Norwegian, Swiss, and Belgian experts to study the plan and prepare an unbiased report.

New Era

The plan: To trap and harness of water pouring the torrents

Their report, completed this Inga over the

Rapids-four week-end, heralds inga da "a imes as great as at Niagora new era for Africa." And the Falls,

Belgian Parliament is expected the to give the "go-ahead" soon. would break

Anki that

AMERICA SEEKS TO ALLAY

LONDON STOCK MARKET

MOUNTING FEARS Dog-Flight In Russia

By JOHN MORKA

New York, Nov. 10. Operation "Confidence”

got underway last week as Government leaders sought to allay mounting fears con- cerning the economic-military threat posed by Russia's orbiting Sputniks. President Eisenhower's Thursday night television address on "Science and Scientists" topped other specches, made by Cabinet members and Government advisers aimed at restoring con- fidence in U.S. strength.

Jika

Last week, Treasury Secretary Robert Anderson emphasised the Government's readiness to deal with any serious downturn in business. Others took up a similarly A recent survey showed that confidence-restoring pitch. Com-this year, research expenditure morce Secretary Sinclair Weeks still tops $7,300,000,000-an in- is nothing to be crease of 20 per cent over 1956 said, there

and 200 per cent over 1947. The afraid of in the current gilua- Alon."

projection is something Presidential economic adviser $8,300,000,000 by 1960. Gabriel Hauge raid he foresaw

change in sharp

William economy." MeCheney Martin, Chairman of the Federal Reserve Board- the nation's money architects said his agency was more con- cerned with fighting Inflation rather than any business let- down.

סמיי

in triggered

for

And

Missiles

The series of speeches sche- theduled by Presideni Ebenhower is being counted on to restore a lot of the business confidence which appears to have eroded Over the past several monilis. Something like $40 billion

been security valuations have lost since July 12. The Wall Street Journal noted that the fact that President Elsenhower and other cabinet members have been speaking on the economic picture "appears to give weight to the idea that the administra tlon is more worried about a possible erosion in confidence than any are conceding publle."

Economic indicators appear to bear cut the growing pessimism over the future.

Meanwhile Russian (cadership launching cart satellites widespread demands a beefed-up missiles pro- In- gramme. A congressional vestigation of the U.S. missile effort is scheduled to get under- way next month.

In

Elsewhere, the clamour is Carleading are off from last growing for the appointment of year's levels. Textile mills are

misiles "Czar to head

shutting down to jack up slip- nation-wide effort to catch up ping prices. Five major pro- with the Russians. One Sena-

ducers

of print cloths in the

for

have example, tor has suggested that retired south, General Douglas MacArthur be scheduled longer holiday clase- appointed to this post.

downs in order to hold down

move affects With the US, defence pro-inventories. The

or less in a about 10 per cent of the looms gramme more transition stage-away trum operating Inst June.

The steel

is mood

still conventional weapons in the direction ol missiles and gloomy. Most steel oftlels arei

Toro uneasy about rockels--speculation mounted us growing,

whether

the U.S. would the future: They feel

that tensions, tight 31 crash-missiles international

money and widespread

to

undertake

programme.

Kamme

reduc-

A

-A Dog-Fight

Westminster

In

London, Nov. 10,

The veteran financial weekly, the Statist, tries to sum up a baffling stock market week as one "dominated by a dog-flight in Russia and a dog-fight in Westminster.”

Review Of Last Week's N.Y. Stock Market

New York, Nov. 10.

Stocks of missile makers and companies producing exotic fuels made the stock market this past week.

The market was not displeased

These issues registered going ranging to nearly $10 a share with the President's message oh In US. Borro which mal missiles but fotand it theking in born, an ingredient of the inflation angles that would send

mace

The

on

volume,

fuel that rends misåller into stocks higher.

The traders took the message While

stocks were as an opportunity to take profits It also notes mournfully the Most of the net gains among dinculties of a late Victorian the leading Industrials amounted rising the general run of lead at the week-end. Market men ing issues held in a narrow sad the dip on Friday, was a invested

averages showed moderate one and noted that it. Odd spot in the week was the range. which conservatively Savings Bank in the provinces to one or two shillings.

and came on reduced Wednesday its customers' money in British Paris buying here of Suez Canal guins Government, stocks which have shares the announcement by Thursday and less on Monfavourable factor in that it in- serious Laten so low that it can Mr Eugene Black, head of the day and Friday. On Tuesday thedicated there was no

liquidation overhanging the International Bank, that he was market was closet for clcction, market. not re-pay its depasiters.

FINAL FIGURES One of the big live banks has going to Egypt to discurs com-

Among the lending groups, rushed to the rescue which is pensation for the shareholders of

When the final Agures were the steels did title one way or available the close of the the other. Oils moved narrow-

at all right and very English but it that now Egyptian-owned enter-

lato week they showed the ly. Coppers lost

In th still leaves people exclaiming: prise. "What a world?"

The shares jumped £3

average at 434.12 week after an cortier rise on a dustrial must £40 which Mr Black

0.59 from the week befort, rail | small increase $52 the copper 4 not have regarded as

very

107.18 of 0.94; utility 04.85-off price. flattering price. Shares of the 0.69, and 65 stocks 140.81, on Among the specials, American also-nationalised Anglo-Egyptian

Crystal sugar gained nearly oil company Jumped 0/- 30/-0.04.

The 20 active issuce, most of points while Burroughs, and them misalle or fuel issues, had Caterpillar Tractor lost more compared with their earlier, peak price of 47/-.

sales totalling 2,104,000 shares, then 3 points each. General cent of the total Motors and Ford lost more than 23 per turnover for the weck of point eath while Chrysler 0.045,087 shares.

gained a fraction-United Press,

No Trend

Certainly the stock exchang found no solution. Professional

Lo

bears, who had sold short the the mosl

shares. Oils were irregular all week respectable cover their trans- and closed mostly moderately hasten to actions, causing the index of in- lower. Royal Dutch eased 2/0. dustrial share to rise nearly 5 points to 183.9.

British Government stocks enjoyed similar covering which lifted some of them £%

Foreign Bond

The top half dozen in volume were North American Aviation, Bethlehem Airplano,

Japanese

the Boeing dominated and foreign bond section. The 19075, eral Tyre, and U.5. Borax In Steel, General Dynamics, Gen- the railway nationalisation stock bath assented and non-assented, is es much as £.

Jumped £3: The 1899s assented that order.

£2 The index, however, showed jumped

und the non-

EXOTIC FUELS

the

Bank of England · Statement

London, Nov. 10.

The Bank of England state-

Private

Govertiment

securities

no general irend for I opened assented £1. There were other In the exotic fuct group led

Borax, U.S.

American and closed the week at 78,20 scattered rinca of one or by

Folnsh netted 72 points, were idle except for compared with its B1.51 just be- Germans fore the seven per cent bank the Young Loan assented which Staufer Chemical 5% and Ollament for the week ended 'Nov. rate emerged as Britain's latest fell 21.

Mathiesen 3. For a briet G. rende un follows:

-Sterling Thursday trading Notes in elreutation. £1,970,205,500 Dollar stocks moved closely in period on headache.

Loin while ine with Wall Street's eccentric was suspended in

Public dendr movements but the premium the specialists untangled which they enjoy improved 1/2 heavy buying orders, 10 nine per cent.

In the aircraft section, most What the market

of the companies makers of need, more than anything else, missiles, Dougian netted M is some assurance that the points, General Dynamics 43, government's anti inflation Bosing 34. Bendix 1%, Chanco polley will not smite the Sh-Vought 14. Lockheed 236,

Amertent nocent even more than the Mortin3, North gulity or semi-guilty-United Aviation 2, Northrop Aircraft Press,

und United Aircraft 2.

US Cotton Goods Market

New York, Nov. 10. scale, but short-lived, buying splurges tempor- arily electrified the cot-] ton grey goods market here this past week. After six months of monoton-

seems

to

New York Cotton Market Review

New York, Nov, 10.

Cotton futures levelled off this past week after reaching new seasonal highs, but still closed the period with a substantial net gain.

Press.

Other pecurities Ieceipt

Ratio

9,538,274 301,18332

248,647,UCEN

32515.010

20.822.1

感想

United Press.

Bank Of France

Statement

Paris, Nov. 10.

The Bank of France statement for the week onded Oct. 31,- reads no follows:

Franc

Total gold holdings ... 2005504562,428

Total other currsācies

Sight

in papuce abroad

י

12,111,202,52€ 11,771,000,000

Advanos to stabilisa.. J

tion Fand

Total is discounted 1,099,092,300,471 Bunkchotes in tireula.

Son 202.350,540,170 Current, secounts and

deposits

*417,041.257.535 --United - Pres.

NAMESAKES

Answers 1 Polities, 2 Douto,

So far, experts appear to tion of inventory will continue Big lean to the theory that any to adversely affect orders. The step-up over and above the auto industry is still holding oft $38 billion carmarked for the any substantial buying.

Shut-Downs current fiscal year is not likely to be large. It's overall effect would in any case not be felt Oil companies, uttempting to

cut down before next year.

inventories, areous inactivity, a few big.print Experts

meanwhile were ordering less piping and allied and broad-cloth manufacturers converged on the market. In two making

Dome assessments of equipment

Meanwhile, some impact that

compantes days they reportedly booked a the psychological

closing huge quantity of goods for for they were an expanded defence pro announced engaged But Buisseret 15

might have on the down some furnaces and going ward delivery. "neutral" international group

While this season's' crop may How much business actually At Felday's close the generalĮ United States, of

U.S. economy. alan.

It might con- on a four-day week.

shut was booked became a moot ques-list ruled 22 to 38 points $1.10] be substantially smaller than There were further ceivably affect bustness invest

balehigher than

last year, alalisthelans sold the a Queen, the aircraft industry tion. Few observers would get to $1.95

Lisbon, 5 Visit, d ment and incentives to expand downs in as United production capacity.

Aircraft said they definite. Some said it could be the preceding week.

Shrinking crop prospects, and overall supply will be more than Duke, 7 Administer, Danquet,

Tagusi five per cent of termed "huge" or "substantic"

10 Salazar, 11 Business Inventory policies would lay off

In its work force between now and while others put li into "ens of growing concern over the pos- sufficient to meet domestic and |

Portuguese, ja Орань, night ikewise be altered.

sibility of an extra-tight supply January

requirements. - United | Govern, 14 Azores, expert Mills were reluctant to take situation on high grade addition, more defence spending

1 because of reduced millions of yards."

cotion aircraft production schedules.

President Lopes, about developments. would aggravate in

This gave the type needed for contract KOVETR- already tight

There were other disquieting brokers and other trade quarters delivery continued to be the budget ment's and pose some new difficulties developments last week.

the iden that business has been main prico-boosting factor. the nation-wide gathering of crono- tione “on the quiet", and probably Indation, to halting

At same time, it would write of mists under the auspices of the at attractive concessions from

tax University of Michigan predict-current prices. any chances reductions.

observera, Some

for drop in investment; A, 1.5 to 2 Sources said the bulk of the Chase Manhattan Bank.

o that any per cent drop in production; a 3rardage taken by one big user, example, point

per cent dip in profits; a rise in and that not all mills participat defence, increased spentting -

ok 400,000

to ed.

Manufacturers standing by runnlag at about 10 per cent of unemployment "We will be able to produce total production--can be readily 3,200,000; a one per cent rise in hoped the demand would spread steel there ind ship it to

absorbed with a gross national prices.

to an across-the-board bests to There was further evidence include apparel and Industrial Europe."

product of $435 bilion.

that the boom has been arrested,

lthough the economy is still Sellers detected, mis of a operating at a relatively high

are due for a modest improve-low business in textiles, with A bleger outlay for missies plateau. Commercial bank loins "growing feeling" that prices advances, was would certainly give the major to business usually rise at this ment In the weeks ahead, reports that leading milis plan- an additional cutback in Industries, such as stoel, a time, but Digures show that the

Inissile makers and total drop-in loans since mid partly because of the rise in ned

cotton row craft,

0734 cutbacks operations during the Thanks- year has been $776,060,000, producers of exotic fucks, a

accomplished in mill inventories giving and Christmas holidays. tremendous Bft. In fact, come In the same period last yaer, are months of curtailed opera-The extra vocations are intend

ed to enable mills to whittle experis point out that only a such loans advanced by over

cloth. Inven Some

down excessive experts

CURTAILMENT Sputnik-inspired spending pro- $1,000,000,000.

torics. gramme can halt the current think this development presuges

The Government New York texille merchants business downtum.

a downturn in interest rates but

as

be 10

obstacle that has always hinder- Sald Durcheinbeau: "I cannot ed exploitation-lack of cheap state a figure but the current electric power.

produced at Inga-as well

cosis-wili production When finished the plant could produce three times more elec-times as cheap as elsewhere in tricity than Britain uses.

The credit

First technical report of Ingo's power of potential was made by a group of enthusiastic Belgian engineers as long ago as 1920. But no Belgian Government dared to back the project until the present Socialist-Liberal coalition took office, three and a half years ago.

03

Africa.

Electrical Control In Wind-tunnel

the

any

ed a 1050 dip.

Like

.the

Bigger Outlay

Secretary

Nell

They forecast: A 5 per cent

fabrics.

tiona

THE BULK

Expectations for heavy im

竹

the

poundings under the Govern inent loan progtainme and growing impression that high price supports will be maintain- jed through 1938, wire other

supporting factors.

Democratic victorios In election strengthened that OPPOSED conviction, traders cald.

Opposed to that combination, and acting as a govectior on the

the

conlinet

crop

>>

SHIP

BEN LINE

YOUR ALLY A GOOD PRINTER

What's the first step toward effective

printing? Just this: call in a good printer right_from_the_start. Whatever

uirements, his fund of experience will

be invaluable in helping you to design,. to select type, and to choose the right papar for the job.

Credit for urging the present Government to bring the Inga plot out of the dusty archives The General Electric Co. Ltd despite.stiff opposition goes to has designed and built the The Russian Sputniks have so for there is na indication have been advocating a sharp timate-published on Friday Valere Darchambeau, Colonial electrical system for the super- already spurred jew interest in that the government conten-mall curtailment programme for proved unexpectedly low on the Miolster Bulterel's economic visory control of air-speeds in research in both government platos any such move at this along while if the Industry le production figure while the gin- to achieve a stablised position ninge were disappointingly adviser.

the new eight-foot wind tunnel and corporate levels. Recently tine,

on stocks. Bemis quarters felt small. The indicated Nov, 1 Importance is also attached to of recently Installed at the Royal Defence Buisseret sparked off one

by McGraw-Hill mills should cutback to 88 per yield of 11,788,000 balos, came, Belgium's hottest political rows Aircraft Establishment, Bedford. Mestroy revoked a $170 miles a prediction

cut in military research spend that overall business spending cent of capacity, or to 70 per 913,000 bales under the previous when be announced acou

The interconnection of the ing ordered last sumene by, his in 1950 will decrease seven per cart if necessary to bring se estimate and compared with the project 18 months ago,

cent from the 1957's high of chuction luto belance with con- last year's crop of 13,310,000 apparatus racks,

control" predecessor Charles E. Wilson. The stocky Minister admitted desk and the apparatum within

sumption. President - Elsenhower has $37 billion.

Traders thought the market that the project could only be the tunnel, together with a large bech reported in favour of skene

would mark the first In cation yarns, spinners zem undertaken with foreign firan-

proportion at the cabling toy - expansion of basic research by time since 1974 that capital ported moderate-sized sales of had discounted a current figure oarded deliveries, of 12,000,000 bules. Failure of cial help and the only sourcermentation, was installed by the government. He estimated investment, a key underpinning CORES Was the United States,

Social a subsidiary borngay.

this might involve the expend of the postwar boom, had taken Figher prices on better grade the lower estimate to bring but sustained demand caused Belgium's powerful

A decline cation are expected to firm the Christian (Catholic) parlia- The wind tunnel, one of the ture of an added $400 million a turn downward

in business spending usually market on higher count yarus recent buyers, who had gone clairood largest supersonic wind-lunnels this year. `mentary- Opposition

over the bureau," to upholstery irado. "Tang on a rise in boyd for Meanwhile, Top velenitats | brings American Nakd in the world, had been bullt, to that

10 week

kalising ytres

a new look palesquidate pending would be to sell the Congo out. enable large-scale besle,stro have called for radoubled efforts. prices, and a proportionate dip Carded

The "Big Five” Belgian dynamic research to be carried in basic/research to keep up in bund yields and a reduction turned slow, relecting altuation at the picture trader tigoyhti cartels which control the whole out on the problems shrousted with Rundens in. science and in borrowing demands ached in slow is the outer your faucis. Technical reasons wy and Windham Street

factor. trade-United Pross imineral with high-pood. Blyth -

of the Congo's rich

technology.

This

Press

the

bales.

ᄆ

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