1957-12-30 — Page 9

SCIENCE AND ENGINEERING

The Electronic Age

In this article THE RT. HON. THE EARL OF HALSBURY sketches the present frontiers of the world of electronics highlighting the achievements of an industry which is making an ever-increasing contribution to Britain's export drive.

THE electron is an incredibly minute particle of matter which carries an electric charge. For all its minuteness however the electron is the basis for most electrical phenomena, known to or exploited by human beings.

to

cover

of

pi

power

D5

A

com-

THE CHINA MAIL, MONDAY, DECEMBER 80, 1957.

TRADE

and and

COMMERCE SECTION

America Looks Forward With Optimism

US Economy: A Forecast For 1958

A Big Job Lies Ahead, HONGKONG New York Cotton

1

Say American Business Experts

By JOHN MORKA

STOCK EXCHANGE

Our Own Correspondent

Business dotic on the Hong-

Stock kong

Exchange this morning amounted to approxi- mately $130,000, Noon quola-

actions were:

Bhates Buyers Seller BANKS

IK Bank..

证

† 1850 40050

Now York, Dec, 29.

a period of one and the morning's trans- The U.S. economy approached the year-end in

consolidation beset by fears and uncertainties as to when the three-year-old boom will regain its momentum, Most experts forecast a period of slackening business activity over first- half 1958, followed by a pickup over the next six months. Not a few experts see the business upturn being postponed to as late as 1959, however.

INSURANCËS

270

ARIAC Lombard 323 Ala Nav

-

SHIPPING Wheelock DOCKS, ETC.

1.273

0,30 0.70

K. Wharf.. 120

Pvident (9) 11.20 11.90

One is looking for a cataclysmic depression of the 1930's. The general

feeling is that in a sense 1958 will be one of the most prosperous repd.......... cessions in history.

Electrons have a close affin-electrical signals and manipulate ity for matter, They are it into an output pattern dificult to detach from it and equally minule electrical signala quickly re-associate themselves which is amplified for with it given an opportunity purposes only in the final stage, to do so. They are in fact the and then only if necessary. The basis for all the chemical and importance of this in connection

of the with any kind of automatic physical properties materials with which We are control device la obvious,

Secondly, they divorce func- fmtilar.

The neat It was at first unly in a hightlon from lay-out. vacuum, where maiter is so geometrical arrangement of parts

that

constituent in the assembly of an electronic rarefied aloms are far apart from one device can be designed for ease another, at electrons had an of manufacture and ease of re- exhibit their placement should a component of portunity to own versatility. The word 'cloc-fail: it has nothing to do with tronics thus came into being the interrelated function of those parte. A purely mechanical de- The behaviour

Just vice is limited in its complexity electrons in a vacuum. think what all this led to! The by the fact that its paris must

spatially Interlocked, diode recliner is the basis for bo

that when two gear-wheels mesh. the high-voltage D.C.

upon mechanical operates our radio and televi- limit sion sets. The triode valve with plexity is imposed by the con- He variante the telrode, pen-dition that two pieces of matier

The consensus of experts is the basta cannot be in the same place of tode, and others-is

the economic setback for the amplifiers which make the same time. Electronie de- that

will not be long or pronounced, posible the radio, gramophone, vices can be to arranged

they do not feel the effect of

that the adjustment will not be and television receivers.

this Imitation. A modern com-

enough to cause any soverc conceived in meclulcal major downward spiral in pro- puter. terms, would be a monstrosity;duction of employment. ir but a je realdunt gns, conceived in electronie terms li

The big job ahead, in the ia manufacturable device like such us organ ог MercULY

view of the experts, is to Thirdly and lastly, theny other. Into

reverse the downward trend vapour, is admitte

do not hard vacuu in which elec-electronte components

which took root in August and gel depend upon costly geometrical trong normally work,

to restore business and for their functional so-called 'soft' devices such as precision

sumer confidence which got a the thyratrons which are used precision: the teeth of a gear-

terrific jolt in recent months for current control in theatre wheel must be finely ground to

under a heavy barrage of a very precise shape; the colls Bghting, and the great iner-

gloomy business news. of a transformer need only be rectifiers

are Businessmen through cu"y arc

counting precise in respect of their num-heavily on a number of factors actual consumption, which current is supplied

ber. Electronics thus presents

declines in to offset expected electric railways.

the designer with n world of new

it further There devices are only a be

capital spending, freedoms of which he has not travel

reduction in Inventories and ginning. Spreialised to in geometrically straight paths,

possible drop in exports. They are loolding for a business spurt electrons in our service give us the cathode-ray tube and its brother the television tube.

RESIDUAL

We

10

I fit cousin, the electron microscope, in an Invaluable tool for the scientist. It shows the physicist and the metal lurgist details of the structure of materials. It shows the doctor the structure of living cells. and the Viruses that cause discusO,

If we couple of movement of electrons to the variations

of

an electrenmagnetic field we get a whole range of devices which are the general basis for radar. Another type of coupl- ing gives us the betatron used to generate super-high-energy electrons with which the pro- pertier of atomie nuclei are ex- plored. Ils far-off, humbic ancestor, the X-ray tube, been a standard feature in the hospital for Leo generations plist.

has

All these are examples of what it is now the fashion to call external electronics.' They depend upon about

of

There is, however, another side to the story, In most forms matter electrons are bound and unable to move; in metals they are free to move about, That Is why we use metal wires conduct electricity,

INTERESTING

Thero exists, however,

to

that

been slow to take advantage.

Such are the origin, nature,

and accomplishments,

oppor- tunities of a great and growing industry, an Industry which al- ready exports products worth millions of pounds every year. Upon its inventors and crafts men the well-being of our other Industries will increasingly de- pend.-London Calling.

World Demand

Boosts

Rolls-Royce Sales

London.

сол

*

[c

LAND, ETC.

500 1275 2301.00

Market Review

By WILLIAM T. PLUNKETT

New York, Dec. 29. Cotton futures continued to be a two-sided affair in a holiday week shortened to 3% sessions. At Friday's close old crop months showed losses up to 2.30 a bale while new crop months ruled net unchanged.

Expressed in point changes, | the list ruled unchanged to on 40 points compared with the preceding week.

Easiness in old crop months reflected increased hedge selling and a coincident pause in the trade demand. Additional acu- ing in nearbys pointed up Washington reports indicatin

favour for a R311.70dministration

the 1058 101 11.5 lower loan rate on

crop and increasing the national cereage allotment,

50 1.35

INCREASE

A steady increase in the cor-

stock now tincnted year's high of 24,527 brought additional liquidation

20070à theory that heavy de- 450 22.70 liveries, of poorer grade calton 500 2300 might be made on the futures 100 17.20 contract. A year ago the cer

#101nenten stock was under 3,000

17,20

bales.

050

1 Hotel 14.00 HK Land.. 32 Humphreys

33

RUBBEN Amalg

10.00 145

1.325

1.40

1.35 1,000 @ 135 8,000 10

10,000 # 1.23

Trus UTILITIES Trin

1.25

22.70

1.Ng

Youmati

04 06.50 17 17.40

20.00 22.20

72 or 17.10 20.00

23.90 28.20

20.40

16.90 10.20 1,000 10 11.00

104 @ 2.30

4.45 4.53

on

400 5.33

2.075

possibly even unemployment will undoubted-Reity. at high levels,

the next ferry 1937 levels, ly rise over surpassing the

experia insist months. Some Spending for durable goods may

@gure decline, particularly over the that the unemployment

will swell

05 to as much first six months of 1958.

alec) 5,000,000' by mid-1958, layoffs in Aulo

steel-he

steel, autos. operating

declined strel, appliances. rate has from 96 per cent in the urst railroads have been particularly

C. Lugtis, (O) quarter to 78 per cent at yerr-heavy during 1057.

Foreign trade exports are end. The sharp drop in the

expected to dip in 1958 for the operating rate stemmed from a reversal in customer Inventory first time since 1952. Total U.S. Electric policy from building to re-foreign trade, according to an ducing throughout the second estimate by McGraw-Hill, will INDUSTRIALS

STORKS, ETC half of the year in

recent amount to 33 billion in 1057. Oil Cement months, steel shipments have shipments accounted for about fairy

total after Watson... fullen about 10 per cent below 400 million of this

the Suez closing. Ateanwhile the Sinceren

COTTONS cutting Textiles U.S. goverment is down on ita cotton and wheat INVESTMENTS sules abroad under its

farm Yangtze

Allied surplus.

Disposal programme. In 1957,

STEEL USE

Totul production for 1957 is estimated at about 113,000,000:

euphone

to result from increased govern- tons, below the 115,000,000 tons Europe brought an unexpected NY. Stock

to

ment spending at all levels with defence n heavy emphasis on and missiles, easier credit

auto buying and facilitate

and

ปี housing construction,

Con- general high level of sumer spending

PESSIMISM

the

But despite the large measure which prevailed of pessimism throughout much of 1957, gross nutional product (GNP) for the year was expected to more hit an all-time high of

than $435,000,000,000, or a gain ranging from 3 to per cent over 1956.

see

Here's how the experts the U.S. economy at year-end with forecasts for 1958:

than

|

that industry in

PRODUCTION

wned cut in 1966.

the

100 million worth of grain after Steel use over the first half the poor 1850 harvest. Leciding of 1858 is expected to decline these Incentives. commercial from the 1857 pace, and invan exports next year will stay close lory cutting will probably bo

to second-half rate of 10 bilion maintained well into 1958, with maintained in 1957. Imports a continued

restraining effect should remain at about the 13 on production. Production billion level in 1958. McGraw- next year will probably be in

that "If reasons the range of 110,000,000 tons.

present adjustment in the US. The big question in steel is economy should develop into a the auto Industry-wer of real setback, weakened demand could about 24 per cent of steel's for world commitles

sales for 1957 cause prices to Jag atill output. Auto have been somewhat disppoint- (further.”

ing, estimated at about 8.9 to 6.1 million, about equal to 1958. The failure of the industry to continue is

growth pattern weighed heavily in the generally lower business statistics.

In

TARIFFS

Market Review

By ELMER WALZER

"New York, Dec. 29, Stocks enjoyed a miniature year-end rally during the past week with stoels and building shares loading. Industrials closed this past week at 432.00 up 5.70 points and rolls 97.30 up 0.47. The

market

new

THE LONDON

T

over

STOCK

MARKET

on

London, Dec. 29. Week-end round-up: A broken weak-with two trading days out of the middle at the

and a broken bales

market with a turn- on Friday which was the lowest ever ex- perienced sines 1944 — and a broken yeur, crack- ed wide open by the 7

bank rate per cent September 10 and not improved by flying Sput- nik No. 1 of October 4, flying Sputnik No. II of November 2 and the sad fasco of the American rocket on December 6. Certainly

market fully entitled to end with sound of low moaning. Financial Times Indeces of the different categories of industrial shares

Stability in new crops months' reflected a growing bellef that farm legislation any adopted in the coming session could become of Congress operative before the 1939 crop. Some statisticians calculated

d

Lho possibility of higher loan rate for the 1958 erop. On the basis of the December Government crop estimate. plus estimated domestic

consump. of closu tion and export

12,000,000 bales, they figured the support level for 1058 would be approximately

the

WIS tho Tho

showed the following 1957

4 cents groups s'anding of their

Building materials, electrical

pound higher than the 1957 level lows:

However, such a high sup port level, it was felt, would be oquipment, shipbuilding, ship- kely to depress domestic con-ping, paper, oil, teas and tins.

and Brewery share were the sumption

still only shares whose lodox closed a mell per cent below ex- their mid-July peak.

considerably American cottor price farther out of world market.

catton raw American

ports through Dec. 23, as re- ported by the New York Cotton

tplatted Exchange, bales.-United Press.

2,087,681

Weekly U.S. Cotton

Goods Survey

New York, Dec, 29,

on

on

If we take this very short week, and examine for possi- ble signs of a trend, we find evidence of buying of British Government stocks. We find War Loan up 8/8-perhaps foreign buying, for non-resident holders of War Loan do not have to pay British Income tax on its dividends and Treasury Old 2 per cents up 5/- and Consuls up 2/8, They are very cheap their index closed the week at 79.14, only 1.60 points above their all-time low of 77.45. hit on September 20, the day after the 7 per cent bank rac.

were

were

On the tariff front, American market gained in three of the protectionist sentiment is ex-four sesalons arid met week. pected to strongthen in 1958 in end realising and evening-up Chemicals the industry, Capitel spending business

trade 3 Of the 1,307 Issues outlays for expansion In 1958 which set new records in 1957, opposition to un administration operations on Friday

programme calling for a five-year

gained. will be down from the unusually expected to hit new.peaks in extension of the trade agreements during the week 660 high levels or 1930 and 1957. The 1950. Total value of production act. U.S. membership In the 500 declined, and 177 held on-

Co-changed with news of the busi overall decline is estimated at in 1057 rose 7 per cent to 75 Organisation for Trade

ness world more drab than in about 7 to 10 per cent, with the billion, but because of prk operation (the administration arm

manu- increases,

and presidential many a week. evident in

About the only the overall gain in of GATT) THE Rolls-Royce success drop most lectrons bying story

per exit. Metal physical output amounted to no authority to effect further. cuts high for the Christmas holiday of making the

facturing--16

and indicated a record for all working industries more than 2 per cent. In almost empty space,

and melal

In U.S. Import schedules,

ARGUMENT 3 to 5 guided in their trajectories by world's best-known cars 18 will be down as much as

Monty rates Interest rates

of 1067. Big industries holiday A decline in economic activity.

industrials Leading made to appear almost like per ceni. Expansion plans hit new 24-year-highs this year, externally applied helds

shutdowns and all of them Holiday Influencos hold new ultra-quiet for the argument electric Of n:agnetic force.a sideline by the company's petroleum, pubile utilities and but are expected to enso in 1958, forecast for next year will had more than the seasonal }

de- declined.

character business in the cotton about the probable may_1 | particularly in the aircraft

event the bolster the protectionisi engine business. electrical machinery

AVERAGE

of 1868 is making very little an average of about 4 or 5 per decline

economie activity mands for Increased protection

goods markot down to o Woollen utd. against imports.

headway 25 British aircraft engine ex-

ኒ፡፡ the cent, The paper, steel and auto becomes more pronounced.

yet. Compared Trading will also resist

Tow obb last week. ports for the

first nine industries,

on the other hand,

worsted mills The Federal Reserve Board

With many cloth weavers shut with a week ago, most of them

down a mere 3d.. months of this year

efforts by importers to nullify brought out a daily average of 1st were now have more capacity

November lowered ..its

Was the Geneva reservation which 2,470,978 shares, against 2,034,-

an exception, worth about £29 million, needed, und little advance, if

rediscount rate the rate charged to member banks and as such Rolls-Royce accounted for nay, is anticipated in this sector.

Imports reach five per cent of week. The decline reflected a holiday, selling agents reported falling 1/8 but it means nothing provides turit increases which 884 shares daily in the previous down for over the new year's Unilever

reduction in tax loss selling and only a token amount of busi- in the prevailing confusion. Estimates are

considered A strong inflation- about half this figure.

There was a general recovery U.S. production. general is operating at an overall deflation weapon from 3% to 3

an absence of many traders for ness booked, mostly for in-

amang oll shares, presumably In the civil field, 632 of the capacity of about 80 per cent, per cent.

Pressure will probably force an extended Christmas holiday. mediate fil-in needs,

Despite the duliness, Leon professional buying. Royal 1,138 jet or jet-prop akdiners

This was the first time since

to abandon the present govern- Sicel issues showed gains on) interesting class of materials in either in service or on order in

1054 that the Board had taken

ment two-price cotton pro- the weak ranging to nearly 3 market maintained a firm under- Dutch improved 5/- and Shell

Mülmen sald buyers Transport 4/01 some lust which electrons pre very near-the world (outside Russia) will Industrial production-a de-

gramme (high domestically, points Armco, Republic Steel tono.

underbidding the minute selling in a reluctant ly, but not quite, free to move. have Rolls-Royce engines.

cline of from 2 to 3 per centy steps to case the tight rein

It has held on the supply of lower overseas) in order to put rose more than 2 and US Steel constantly

a flat turndown market lowered British Petro- These are the semi-conductors.

Mutarlly Rolls-Royce engines over the next few months is the more money and credit. Many coiton on a more freely com- and Bethlehem Steel nearly 2 market met

In fact, comme manufacturers leur 1/0. whose electrons

can be freed are used by 21 air forces. And general forecast. There is a

ace the Board as possibly being petitive basis.

points each.

Foreign bonds were eccentric. by various kinds of local dis-bestdes exports, nearly 5,000 jet good chance pickup once forced to take additional moves

Various agencies told of in- sald they intend to raise prices

bonds

£1 but turbance. On them depends ns engines of Rolls-Royce design excessive inventories-mostly in

outlook for housing in order to meet the rise 14 Grck to case credit, such rs furnish- Elsewhere, forecasts for 1958 proved

and other higher Chinco bonda Бусте mostly a rule our supply of free elec have been made in America such

newsprint, ing CLI

member banks within brief;

down £. Germans were un next year. The. increase pre- raw colton under licence.

neiroleum,

steel and non edditional excess reserves or by

jected while less than 100,000 production costs,

Manufacturers, reporting on changed except the two assent- Scrap Iran and steel scrap units was seen as highly signi- lowering reserve requirements. ferrous metals-are worked off. BRITAIN'S EXAMPLE.

fcant. Detter demand for now improving mil inventory situa-ed Potash bonds which rose £1.

nou-nosented consumption, about equal to The feeling is general that in

SPENDING

1957 total of about 35,000,000 homes is exported to be helped tion in the wake of the cur- Japanese ultimately

the depend.DECENTLY

Russian dollar terms, 1955 will be a year They provide the light-sensitive magazine Wings of Father- that will compare favourably Government spending indicu tons; liquor consumption about along by easier money and in-rent production cutbacks pro- irregular; that of the Tokyo 51⁄21⁄2 gramme, salt they foreste aper cent jumped 21% and that 218

in of the 100ta rose £ with the which photocells land on

featured magnideent with the current economy. At tions are that this type of spend-

1957; total food A long list of issues in any general mark-up in prices eul-away Rustration of Britain's | the beginning of 1907, the indexing for defence will be closer to, 214 gallons as against proved terms for purchasETI,

75 way connected with building Anished, goods sales, Brokers atented un £1. There

declines of £% on Television cameras and re- Nupler land turbo-prop engine. of industrial production stood at 30 billion than the 38 billion expenditures, 70 billion from

moved higher. US. Gypsumn believed an upswing in buying several

after the recent celvers must not be thought of There is nothing particularly 140 of the 1947-40 average. It now projected under the budget billion this your tyre sales £14

gained 3 points and gains of at the retail-wholesale levels profit-talding- merely as adjuncts of the en-secret about this civil engine, has deteriorated steadily since for the fiscal year which began million for an all-time record,

Dollar stocks are watched tertainment Industry: they are which is used in the new Fairey the spring, so that the average lest July. The level of governor 4 million better than in 1957. 2 points or mure were set by is in the offing"-United Press.

Gypsum, Corning Bostwall

ralher attentively, but it le n the present and future basis for Rotodyne helicopter-airliner.

goin in production probably ment defence spending could Cigarette industry, which ex- remote control of dangerous or The drawing was used will' amount to just a little more conceivably rise to about 40 panded by five per cent in 1957 Class, Pittsburgh Plate Gloss. impossibic processes such as the illustrate an article on turbo- than one per cent, considerably billion in the following year and with record dollar sales of more Zenith ran up 8% points in per cent in 1957 with the television group, General manufacture of explosives, the prope. Strange a British engine below the 3 to 4 per cent annual possibly as high as 45 billion by than

The Russians

Across 1 Paragraphi, Inspection of nuclear reactors, should be used.

growth rate in postwar years. 1980, depending on the response record dollar sales of more than Foods rose 2, in lis section.

General Motors topped the Peudonym, 3 Floss, 4. Mary, and the examination of the have some fine turbo-propa of Consumer spending the fore- to demantis for a boef-up 8 billion and peak unit volume Ocean's bed.

their own. Perhaps they do not east 14 for an increase of from missiles programme to counter of about $10 billion cigarettes list in volume with sales of Welling, 6 Bede, 7 Evans, 6 Mill,

the

Cross, to publish drawings of Recent developments in this want

Novelist, 10- billion 5 to 10

the Russian advances, Over

expected to improve in 1958: 185,000 shares. It closed

which week at $33% off point. A spendlag. feld are not connected with the them yet.

estimated outlay of 280

Indications are strong that research properties surfaces but with

NOT SO NOISY

1937. Major industries are the government celling on debt increased by 20 per cent in 1957, year ago the stock sold at $44. Character, those of solids. They have given

scheduled for another round of now at 275 billion--might be

will

more next year United Press.

trons for the vacuum.

They provide the emission surfaces of the cathodes upon

all devices which

in external electronics

surfaces rely.

D

to

us the crystal rectifler and the

THE

Fairey Relodyne has now made a number of flights

its test baso at White

transistor. The latter, a tiny plece of crystelino Jewellery, is rapidly replacing thermianie from valves in, for example, deaf-aids, Waltham airfield, near Malden-

the

fields

S

for

400

wage negotiations next year, lifted bringing with it come appliance sales, total sales notably in trucking, aircraft deficit financing. This in effect expected to declina 100,900 from auto, apparel and textiles. Ex- could rule out the prospect of 1957 sales of 10.105,00p walte peris look for a rise of 8 to 10 a tax cut for business and the this year pen industry, a site Exchange Rates cents an bour, plus certain public. A deficit spending pro of from 20 to 35 million over In broad terms what is it that head, Berks

work!

Business was done in the local make the 1857 levels; patroleum, increased This will be

bo grammo Flying on

this jet-lipped fringe benefits. all these devices. enoble us to

exchange roarket a shorter federal reservo more disposed demand of about 3 por cent, as unofficial

morning at the following rotor:- do? The answer is, first, that hellcopter blades, the Rotodyno offset in part by

work-week and an increase in to temper, any easy money against one-per cent in 1937,

U.0, dollar (per 855 they enable us to divorco signals makes lis maximum noise, from power throughout

A Fairey spokesman said: unemployment. Overtime pay policies which might be under foreign car sales a rise to about

(prij will be virtually non-existent, consideration.

1400,000 -units, · compared with i Awiznisa notes (per #1)

rugsbes 100) plex labyrinth of signalling ar "We have not had any com- rangements. They enable us to, plaints."

Unemployment Dow about 200,000 this yours-Valtoji i glam desi par 200) 4 Express Spending for Pon-durables and London take an input paltsen of minute Barvico.

expected to held | æstimonies uit about 8,325,000, Prom

Singapura (n)))

com-

D

NÁMESAKES

George Eliot,

1030

wero

werd

thin and eccentric market. This week the premium enjoyed by Hollar stocks was unchanged at › 8 per cent.

On the whole, the market, rei

D

fects, the state

11 prevailing

of confusion in the city and mong the woll-to-do classes.

-Unlied Press.

SHIP

BENDLINE