SCIENCE AND ENGINEERING
A FACTORY FOUNDED ON AUTOMATION
The first block of the £1,250,000 production expansion pro- gramme of The Solartron Electronte Group Ltd, at Tower The whole pro- Hill, Farnborough, Hampshire, England.
gramme will be completed in approximately five years.
By IVOR EVANS
London.
WORK has started on the first stage of a £1,250,000 factory in Britain designed to meet the growing demands of automation.
The first section will be ready, efficiency of scientific research for occupation by August, 1958, | and development. and the first products will clie mdar
simulators
10-
ناویا
THE CHINA MAIL, MONDAY, JANUARY 13, 1958.
TRADE
and
COMMERCE SECTION
Week's Review Of The American Economy
CONGRESS BOOSTS US BUSINESS
From Year-End Reports
Emerges An Overall Prediction For 1958
By IVAN ZVERINA
New York, Jan. 12.
The second half of the 85th Congress reconvened this week and immediately provided U.S. business with a much-needed shot in the arm.
The overall picture emerging from the spate of the reports was still one of inventory cutting at the rate of about five per cent, further layoffs and predictions that the first six months of 1958 will final six months up.'
So far only a few Increases come into sort have of this effect under the existing law.
year-end business very high annual almost unanimous be down and the
HONGKONG STOCK EXCHANGE
Our Own Correspondent
Businese done on the Hong- kong Stock Exchange this morning urmounted to ap proximately $217,000. Noon quotations and the morning's quotations were:
Shores Bayern Sellers
DANKS
III Bank
CI
045 14.4
70
INSURANCES
SHIPPING
Wheeluske GAD 0.50
DOCKS, ETC. JC. Wharf
Bock
LAND, ETC. HK Hotel
IK Lond
Realty RUBBER
Amale.
123
301⁄2 211⁄2
14.00 15.10
33.60
33
1.35
Balea
500 15
New York Stock
Market Review
By ELMER C. WALZER
New York, Jan, 12. Industrial and railroad shares declined on average during the past week on the stock market and so did the Standard poor's index of 500 stocks, but more issues gained than lost among those traded.
The apparent unomaly re- many to new lows, Chrysler flected the fact that a few key | fel more than 2 in the motors. Issues of the industrial group Cement chares motted same 'goorl fell a point or two and only a gains on road building talic. few ralls had wide declines, Oils were unsettled by price
falling after
troubles-United Press. each group good day of advance.
It was
a
one
quiet market-u daily average volume of 2,230,- 680 shares, against 3,200,705 shares in the previous week.
Also the trading natrowed to 20032.76 1,387 Issues, lowest since the
1.30 1323 20,000 1.40 1,000 or 1.30 1.20 1.275
Trust Y
UTILITIES
Yeumati
Tram ...... 23.70. Star Ferry
121
Elecine
C. Light... 16.00 10.00
Irsacil Paper Mills, Ltd. is plac- ing US$0,000,000 of common stock on the U.S. market,
Total
Invest- U.S. private
third meet abroad during the
1957 Was at an quarter of annual rate of US$2.3 billion, year well above any post-war except 1958.
The flow of American money
flow of
Macau E ex- afroud was well paralleled by an unprecedented
Telephone A record volume of
INDUISTICALS than US$21,000,000,000 Cement.
Amoy Can Metal, 1.
Dairy
Watson
Sincere
This belief seems to have gained ground in Washington, too, and_ap- camp which has been parently routed the forces of the economy fighting for a US$72 billion budget instead of the US$74 billion one now reported ready for submission to Congress on Monday. Meanwhile, la the economic they are being injured by for
Stale of the elth competition, aspects of his Union message to Congress, President Eisenhower warned that strengthening defence at the cast of economic mearts of But news elsewhere was not was the
Well Street cold war. Warly
good. per-so the foreign ald pro-getting a Hittle impatient with For all the devices there is
kramme, "would be nothing continued inventory cutting at the high year-end rate of "Ave already an excellent export dr-less than reckless folly."
He called for strengthening, per cent. This rate is being und, and within a year or so
Oral rather than reducing, America's considered very rapid in view of the completion of the
will factory building. exports account for a high proportion of
programme of mutual military the fact that very large portions ports: and economic assistance to of business inventories are need-more the increased output. Already friendly nations am for five-ed to keep led the pipeline while imports-also a new re-
sponsored series of N.A.T.O
year extension of the reciprocal from manufacturers to consum-cord--were contracts for radar simulators trade agreements act.
The excess of exports for the European Defence Pro-
The impatience is the result of A balanced buffget for the tears that if the close, hand-to-imports caused mostly by gramme are in Jan.
next scal year, he said, is
in the The cumbination ol elec- necessity and to balance in-mouth inventories continue much Europe's need for petroleum
creased spending will involve larger, even the usual seasonal and other commodities electru mechanic,
was the largest in ten years hydraulics, pneumatics and pre-some sharp economies in other Spring upturn in business may wake of the Suez Canal closure cision mechanical engineering parts of government, Both how not materialise.
And if that happens, it would and unlikely to repeat itself in enables machines
much and exactly where and and control
time to wonder whether 1838.-United Press. mechanisms, which would how they will affect the U.S.
something more scrious พวง recently otherwise remain only as Я economy as a whole-will Until comparatively
being experienced and whether to be be known until next week. much was accounted for by the scientist's pipe dream,
an upturn at id-year might be sale of electronic Intruments, constructedt as practical pro-
1oo much to hope for. but parallel research and de- ducts of convenient shape and velopment WDK
large size. measure being devoted to pro-
fundamentally ducts fleldia.
North Atlantic Treaty Organisa- tion countries, electronic rending automatons ("ERA"), idustri control equipment to facilitate end and units for nulceration, huliding flexible analogue com- for simulu:ors puters and atomic reactor design.
inancial in the past five years the planned expansion of the rm for when the fnctory I being erected has resulted in
20-fold increase in turnover.
RECENT
in
#
tronics,
By
new
-
an
Unanimity
course,
A
ery.
bc
Kust
was,
Typical 0 the short-term The motivating force behind market outlook is steel. Iron Age, the weekly magazine of the an electronic this year's record budget means of system, for example, results
of
Increased defence metal-working industry, says the steel mills are "trimming their which
require would
economy, camp sails until the storm of inventory The results
remarkable "Impossible" nystem are
not have a quarrel with cutting and slow buying shows of literally spending. The did millions of mixtures of electronics, electri-
and levers, that; It insisted that higher cogs
of signs
Most of abating. the
outlay cal and mechanical engineering, which would probably 11
be paid out defence
trying them have quit which will be the servants interior of a great cathedral,
of cuts in other budget items.
to guess the month in which it industry and defence in the can be made possible.
It claimed that the American will come increasing. future, besides
the
Instead of a set of complica-people would not stand for a
of more Wheels budget
Fluorescent Floodlights
For Airport
Atlanta, Ga.
of brilliant Development
fluorescent floodlights to illuminate uniformly the entire breath of airport
runways
for
ted systems of cams, and levers in, say, a packaging billion. machine, occupying many cubie feel, an electronle device, per- haps occupying only one cubite toot, is used.
than US$22
ם
sleek
12
cut
More Gif workers this week, out overtime and shut don However, the persistent un smelting furnaces and rolling
of predictions (3 animity
mills. The latest to do so were continued business slump well
Ammeo and Colorado Fuel & into 1958 made the Administra tion take another hard look at
U.S. Rubber vanounced it will clec- Such devices, based on
President Eisen- furlough 1,300 workers at its big the budget. tronically programmed actuators,
to hower's reported decision
Detroit plant by the end of the are completely flexible, and the
approve a bigger US$74 billion adjustment of “
few simple budget was allegedly made tot monta un a result of auto pro- controls will enable the
much under pressure of In Cleveland, the auto chassis mechanical section of the increased defence needs as on making Mid and Ross Corp, sid has in making Mid palmost 100 workers machine to change its mode of
the specific grounds operation. A change in 14xicle
non-defence Fodera ince November creased
to fight elaborate,
spending is necessary costly mechanical engineering
the recession. reconstruction.
The theory behind this decl- elon is tint the increased
does not mean
The factory,
n
being bull Farnborough, Hampshire; Eng-
15 landing lond for The
Electronic Group Ltd, of Thames Ditton, Suricy.
planes was announced to- day by Sylvania Electric Products Inc.
The floodlights consist of Very High Output (VHO) fluorescent lamps installed eight-foot fixtures that extend in a con- tinuous line along both sincs vi The light- the landing area. weight aluminum Axtures are 38 inches high.
the
Soinrtron
Flying Display
Of British Refrigerators
to
Boost
duction cuts.
Airlines
000,000,
500 23,80
200 v 16.90
300 5 2014
600 @ 20%
100 g 94.50
300 10.00
... 20.5 3470
1,000 63 RỘNG
10.00
20 26,30
26
30
only US$13,000.-STORES, ETC.
2001
.... 10.30 18.50 9,000
18.50
Over
100
16.50
11.00
12 1,000
11.00
14 14.30
2.10
4.50 8.44
jo
120
2.00
3.33
NEW YORK
COTTON MARKET
LIQUIDATION
COTTONS Textile Nanyang.. MISCELLANEOUS Vibro INVESTMENTS Yongista 0.25
200 4.00 1,000+ 0.50
LONDON STOCK MARKET
London, Jan. 12.
week ending Nov. 8, 1957, when there were 1,379 issues iraded. Of last week's total, 724 goined while 529 declined and 134 held unchanged.
AVERAGE
The industriel average touch- ed a high of 447.79 where it was about 2 points under the re
29, and covery high of Nov. closed the week al 438.06 oft 5.88 points from the previous week.
Leadership in volume went to there of which the aircrafts were six issues in the 20 most active stocks. Top position went to North Americari Avia- tion with General Dynamics. second. Standard Oil (NJ), third, Bethlehem Steel, fourth. and General Motors, fifth.
Bank Of England
Statement
London, Jan. 12. The Bank of England state- ment for the work aided Jan. 8, rends as follows:
Notes in circulation .. Public depos Frivate deposits Guvernment, securities. Other securities Receipta Ratte
Berling 2,033,009,385
10,442.330
288,613,300
207,020,004
31.108.003
23.0
United Prem.
Bank Of France
Statement
Paris, Jan. 12.
The Bank of France statement
As the week ended the market for the week ended, Jan. 2, was slightly higher than 1 was reads as follows; at the end of December-up 2.99 for Industrials, up 3.20 for rails, and up‘0,30 for utilities.
INDUSTRIALS
On Tuesday industrial lasues spurted 5.23 points, featured by detence isques
which spurted President Eisenhower when
Sterling last week took with asked for more than a billion
calm
for
missile whs un-
TTADA
rotal Gold holdinga 201,204,302,N Tata! other currencies 9,035 $48,433 Bight balance
abroad in EPU 11,771,000,000 mavance, to Stablization fund regu Total Bilis discounted 1,976,216,042,83 Banknotes in
rculation Current depots
and deposits
3,260,823,333,530
800.397,200 £173 -United Pro
the dollars additional remarkable Chancellor of the Ex-development. There chequer's abrupt resigna- other rise in the defence grou tion from Mr Macmillan's his State of the Nation Address." Cabinet; against the dollar it rose 1/8 to a new high of 2.81% dollars. The London stock market was equally calm, though not very are bullish; its lending issues 4
still felt to be "dirt cheap,"
before the President deli Exchange Rates
Business was done in the local unofficial exclunge market this inarning at the following rules;- V;8. döller (per $1) Sterling keles (per £11. Austrálian notes (per £1)
Tupiah (per 100) Som tical (per, 100) Singapore (tr))
20.03
That address disappointed th aflation-minded and a decline set in.
That decline carried over into
session the Fricky
which re- substantial losses in the averages.
For the week, most of the uircrafts managed to show gains, British Goverments were ruming to more than 3 points firm, mostly closing with riêng | tu Bendix Aviation.
1/8. War Loan
Steels lost as a group with
Canadian $: Maximinn Selling, closed at £63%, compared with Lukens off more than 4.
Goud-
17%; Minimum Buying, 17% 11 1937/1958 low of £601⁄2 and
year fell 4% in the tyres. Coin-T/T, 17-7/16 O/D. its
high twelve months"
ofing Glass was down nearly 5 kt (in-275.
and other building its section Issues receded.
"
D
Agreed Merchant Rates
NAMESAKES
D'Artagnan.
SHIP
BEN LINE
Now York, Jan. 12. Cotton futuros trading last week became a more two- sided affair, with old and new crop deliveries res- ponding to different in- fluencer.
the list
sulted in At Friday's. close ruled 22 points, lower to
a bale comparts) up 20 cents points higher, or off $1.10 to with the preceding week.
Nearby deliveries felt the of 1/10 or weight of hedging and liquida-
Fürther Lion prompted by: 1, heavy sules out of the govern- men! surplus stock for
Ti use; 2.
dia restricted At Peoria, ingls, the Cater-couragingly slow situation in But elsewhere, there was
Probably the hardest hit of The Good deal of indecision; leading Company an- the textile market; 3. spending will give the economy pillar Tractor a lift and that, in turn, better nounced plans to cut operations tower stock market and overalt industrials were slowly sold, any minor group was the drug
with the Financial Times index section where losses ranged to Answers:-1 Dumos, 2 France, uncertainties, even- to four days weekly and business unco will
160.7 at the 7 points in Smith, Kline and 3 Richelieu, 4 Musketeers, 6 Recurring rallies in new crop declining from
close of last week to 103.6. French.
Adventures, 4 King, 7 Cardinal, business activity tually provide the revenues to mediately ran into stiff oppo- sttion from the United Auto
Expecta- monthy reliceted; 1,"
Rolls Royce lust 2/0 and Im- Metals, still suffering from 8 Dashing. 9 Swordsmen keep the budget balanced.
An example of this was pro-Workers Local.
Doubts about perial Chemicals 1/- to 33/6, price weakness, were depressed, A survey of major U.S. domestions for a higher government vided
Wednesday cont
when
low lle airlines earnings for the first loan rate; 2.
of new compared with its recent Secretary of Commerce Sinclair
of 38/- and fts 12 months high | that Weeks announced
the ten months of 1967 revealed af changes for adoption
cotton legislation this year; 3.
Chain
WCTE stones Federal Highway Programme 30.2 per cent drop in net opera
over the supply at of 40/-.
by id or income from the same Uneasiness
grade seed for spring corly all down
shilling, as though people were will require some US$10 billion ting
statisties and mere, than originally estimated, period in 1956 despite higher high
planting.
becoming doubtful about mak- This was a strong factor in passenger intles
ing heaps of money out of in- that day's recovery on the stock higher operating revenues.
On the other hand, the year-
dated prices. market..
Reports 1057 cales of
the administration
But the weck has closed end report on
for lowered sup-
City of Landon British rars on the U.S. mar-might press ket showed they sold
increased aercate without the sub-ports and
of achieving a clear view of But the real boost came on atantially more than double the allotments brought flurries Tuesday, the first day Congress 1956 Agures: 85,000 units lust iiquidation. But each time the significance of the split in
It did not have long to year as against 32,000 in 1830. market rallied as observers be Conservative Cabinet; there are the Administration's And although sales figures anlieved any new legislation could various theories but no gen- wait for
not be, operative money other foreign car imports were first request for new for missile development and alt not yet available, they Anson aircraft for use as
defence.
certain to reflect similar, "Flying Showroom."
President Eisenhower's emerxibly higher. Increases.
reported Wall Street Large enough to hold several
gency request of US$1,200,000,- refrigerators and fitted with 000-plus his statement earlier nearly US$450,000,000 in private scheduled for next week on market,
is currently new farm legislation. that day that the U.S. economy American capital 8. Christopher Peck, applica-long-rungo fuel tanks, the air
man Harold D. Cooley Indicated tluns engineering manager of craft will
be able to dy from will enjoy a bolter year in 1958 being invested in International
du proof a better than 10-30 chance for Sylvania's Lighting
now legislation Division, Britain to customers throughout than in 1957-ted the stock or foreign companies
enactment of said a VHO runway installation Canada, the United States, all market immediately to the best that U.S. capital is finding its
this year. countries, lovel in four wocks.
way into foreign investment at
North Caro Previously the is scheduled at the Washington the South American
and Europe. National
The market is currently more an increasing pace. Airport following
lina Democrat predicted thoro An official of the firm sald
than usually sensitive to nowe months of Alght tests of the
would be no major farm legla it
Gold shares were mostly equipment by the Civil Aeron- that the m's advice is now
from Washington and what
lation at the session because of week was auties Administration and other being sought on the installation
heard to far this other air-
There were strung - Amook these was the issue a hopeless split along party down by amounts ranging from
4/10 1/~ good, aviation groups at Andrews Air of refrigerators in
craft,
dications, for example, that the last week of US$150,000,000 of Unes. Force Base, Maryland,.
new Without
legialation, Germans were idle part from "Recently the pilot of an reciprocat trade act, which ex-bonds by the International Bank
tel As the jet age approaches, United States Admiral's alreraft
pires on June 30, will be extended far Reconstruction and Deve- traders believed the loan rate the assented bonds of the two 'black hole
the other came to and selected for at least the Ave yours the lopment (The World Bank), for cotton next season may be Potash issues, which case
higher, possibly EL. Japanese, on high intensity
beacon- typ refrigerator for Installation in
The 21-year bonds were placed considerably Administration is asking for. -lights
ΠΟΥ conumonty lining his heroplane," the official nakl.
The 1030 the President is also on the market on Monday and anywhere between 80 and 80 band, were in strong demand
Based on
“non-assenteds runways is becoming increas
went Typically American, he was
within per cent of parity: ingly Insulelent," Mr Peek tok in a hurry.
Balding for artherity to nego most of them A special cabinet
in minutes.
present parity, a loan rate of 80 jumped £3. and the assentede reductions tiate further
result in a 1%; io non-aseppteds of the a news conference held in con had to be made to houss the
Royal Dutch is getting, ready
cent would per
while £275, Jumped Junellon
exchange for a similar lowering annual
Our technicians worked.
US$225,000,000 support price next season for 1024 unit.
There will to raise some
other non-sends tochnical conference of tho night
by other nations, and day and the
strong opponition through sale of additional stack middling inch cation at average several obviously ba
of 33.60 So-roigerator
oentrose £1; the assenteds showed Illuminating Engineering
Installed on syns
to this. To offset nome of it, on the American market; The locations elety.
A loan rate of 80 per several rises at £1. la..propound, timo, to the mrprise and delight These new alferaft not only of our American cousins who
the Administration will offer Philippine government land at higher speeds, but aro, söznellenes labour under
the provision- giving the Preflent paring to Issue US$50,000,000 of cent would result in a support
the authority to raise existing bonds; The Mexican Newsrriot price of $35.04 cents, The commoderately above their levels ot les efficient just before touch- misapprehension that they are
farida higher than permitted by Company, Fabricas de Papel parable, support price this co-last work, while the premium down," he said, "These factors capable of moving for morc mcke the need for better run-switly than we CAD," he added. the existing law where demes Tuxtapes will offer US$7,000-son is 22,31 cents a pound showed a tile of 14 per cent to
tie Industales can prove that 000 of, bonda; and American- United Presa. why lighting imperative,”
Large reflectors spread light horizontally across the runway surface in n manner that eliminates the possibility of upward glare. Since each 200-
has
London.
watt lamp hus a light output of A British refrigerator firm 12,000 lumens, or more. than
acquired an Avro three times that of an ordinary fluorescent larap, a complete visport installation produces 3,- 250,000 lumens of light per 1800 feet of runway.
3
the
between the
with the
Reutor.
; met.
But
Stock sales
were 1950 crop.
and
the
The
without before theeral agreement,
that the City is unenay.
Oll shares demonstrated what DOS Traders marking time awaited
the commenment of house agri- conflicting and rather tepl
can do to a wealthy hoarings views committed that culture
Movements in oll by the Chair hares infuenced
visibly approaching demand for additional funds from investors were haphazard every single day. At the close, Royal Dutch loot 2/6 and Shell 4/-, while Burmah jumped 2/9 and Bri- tish Petroleum eased 6d.
Doller rocks were mostly
842 per cent United Press.
PHOTOGRAPHS
by our Staff Photographers
Stage Club Annual Ball
Police Parade at Aberdeen Wah Yon College Sports Dinner for Austrian Wacker Team
Children Party Aboard U. S. S. Willib
Farmers Cup Bowls & Trophies Presentation British Ambassador to Japan. Arrives at Kal Tak Dairy Farm Cocktails at Golden Phoenex, Mansion House Catholic Women's Party at St. Paul's Orphanage Rice Distribution at Catholic Mobile Clinic Kowloon Women's Welfare Club Party
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Local Presentations
Local Weddings
Etc. Etc.
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