SHIPPING
A NEW US VEHICLE SHIP
London. One of the most interesting ships to be built in recent years has sailed from St. Nazaire to continue her! maiden voyage, She
in the United States Naval "roll-on, roll-off" vehicle carrier, Comet. Her high level of general design and the ingenuity of her specialised equipment are likely to set a standard for future vessels of this type,
The Comet, which is 10,545 dendweight tons, was built for the United
In
The ship would seem to offer definite advantages for the bulk Transport of commercial vehicles,
£430,000 REFIT The
FOR ROYAL YACHT
London..
More than £180,000 has
been spent to date on rofits and repairs to the royal yacht Britannia. The bill is made up of Earlier reflis ...... £270,000 The latest, and first
major, rest • 160,000 Hepairs to propeller 2,000 These details were given to Mr Robert Allan, M.P.a. by Parliamentary and Financial Secretary to the Admiralty.
Mr Ernest Fernyhough (Soc., farrow), asked how i was that
the Government туда
THE CHINA MAIL, WEDNESDAY, MARCH 19, 1958.
TRADE and
New York
Market
Stock
New York, Mar. 18.
Stocks declined again today, the third session in
a row, but closing prices were well above the day's lows. Larillard features in strength | Shell Oil Co
Baint Reg Paper and in volume. A block of the Sinclair alock amounting to 10,000 shares traded late in the day at 50 up 1. It extended the rise lo more than 2 points. Several other tobaccos roso with it.
Steel issues came back. from
early lows with Lukens show-
Soeony Mobile Bolay Aircraft
South; Perla Biro Bugar Southern Co. (The)
Southern Natičvial Gua Sauthern fullway (Cont.) Standard Brands
Standard Dil of ind.
Gludekaker-Packard Carp Sunshine Mining Swift & Co. Texas Cr Textron Inc,
lote in the day. US Strel fun-Steep Rock (Toronto Expe
Sterling Drug Co. ed a loss into a saull gala. || Binkels-Van Camp. Chemicals re- Autos steadied, covered part of early losses that ranged to more than a point, Metals were mixed with Inter-
soft spol national Nickel a Its cutback In operation nounced yesterday. Alcos rallied after a decline.
Tide Water As, Oil Tune Inc.
Twentieth Century Fox Fil Union Carbide
Military when Stalcs Sea Transportation Service
by wielding the economy axe so Sun Shipbuilding and Dry Dock viciously, this "costly toy" coming a rise of more than a point Bundars Oll of NJ Company, of Chester, Pennsyl-pletely escaped. "Why does a vania, She is a prototype vessel ship which is only operational designed for a quick turn-round on the average for three months
the handling of military
aya your need refits so frequently?" vehicles, and may also be used
Mr Allan "The Government and the country at large will is a general cargo carrier.
resent the implication that this is a costly toy. [Tory cheers.]
"In the 12 mouths Jinme For her maiden voyage, thediately before this major rent ship loaded in Philadelphin the yacht was used for over ning tently 100 military vehicles in less than 10 hours, and they were disembarked at St Nazaire in litle more than that time.
of the Comet The operation ia rimple. There are five leading ports for vehlelts lending on to the second deck. Four are side
fore and port loading rampa st, two on each side. The nth
Where
entrance is over ramp through the ship's the stern. berth permits, all five ports are Capable of being
inneously.
A system
down through
e. over the
months.
"She is built and maintained to Lloyd's specifications, and a complete survey has to be eat- ried out at the end at each fourth year."
Was
(She
in completed January 1904-for £2,000,000.] PRESTIGE
1
Howard (Nat. Mr Greville
Would I Lib.-Tory, St. Ivca): not be right to say that it used simu}-
quite impossible to measure In Terms of money the prestigo value and the pride which the Royal Navy has In HMS. Bri- beannia?
of ram leads
holds. the vehicio being loaded, for exam-
ster will
driven up the ramp, which en
Mr Allan: The answer is cm-
be lowered much like the bow phatically yes.. (Cheers.) ramp of a landing craft, and
Mr Entanuel Shinwell (So..
will be driven forward to mid-Easington) said that while not elther go seeking to deprive tho Raya! sh. There, it wil down a ramp into the lower | Family of any relaxation which levels of the forward held; go they probably deserved from over a bridge ramp and Into time to time, was it desimble the second deck level of the that in a lime of financial after hold; or go up by ramp stringency we should be bur again to the main deck.
dened with excessive costs for this vessel?
ie
If the vehicle is intended for the lower level of a hoki, driver follows a circling cork- Brew roule that takes down deck by deck.
him
Mr Allan: "It is not right to think only in terms of relaxa- tion.
The yacht carries the Royal In addition, when necessary, Family an offelal occasions ali conventional cargo handling the line. gear on the ship will be able "Next month she 19 taking the Queen to Holland, and in "each of the subsequent months sle will be taking members of the Royal Family as official visits."
10
load
hatches.
vehicles
Through
While several days might be hee led to load such a ship by cor.ventional mer 13, Comet's design and equipment enables ding to be accom plished in a
the
matter of hours. ROW OVER "FLAGS
No corkside ur Boating cranes pre needed at either end of a voyage.
One of the most interesting the features of the Comet is hinges, movable mmp system am hips n the upper 'tween deck. Adjacent runng here up to the malir deck and down to the lower tween decks, hinged platforms can be lower-
50
but
ed to give a through pašruge be- the forward and after UNC 1:2 sections of the upper 'tween deck. Tanks of up to 40 tons weight can be borne by these bridres.
Waterlight doors are installed in this rmp mechanism.
These
hinged ramps,
the
OF CONVENIENCE"
Liverpool, Mar. 13.
Britain's merchant fleet cannot hope to survive against the tax-free com- petitions of ships flying ings of convenience, the Liverpool Steamship Own ern Association said re- cently in its annual report for 1957. The report saki "incredible! though it may sound, it is none
trac-
Unlun Oll of Cal
Railroad issues held in a Unlon Padfic Railway
Unlied Aircraft Honal area with a few subs United Gas Corp. managing to show guins. Oils U.S. Foil "B" displayed several gainers near V.S. Gypsum closing time. A long list of moved higher, special issuea several to new highs.
Of a total 1,124 issues traded 590 were lower, 294 higher, and 250 unchanged,"
New York Stock Exchange volume was 2,070,000 shares,
Stier Exchange Now York borul volume was 53,850,000.
S. Line L'a.
Bla
U.S. Smelting U.B. Steri Warner Br
Westinghitise Electric Western men Tel. Co. Weet Vo, Pulp & Paper Woolworth
49
COMMERCE SECTION
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
700
Page
The Atom In US NEW YORK
Industry
By EVERETT R. IRWIN
Chicago, Mar, 18.
American industry is saving US$500,000,000 a year through use of the atom but has hardly scratched the surface of Its possibilities, an industrial expert said today.
Business done on the Hong- this kong
Stock Exchengo 40% morning amounted to approxi
Norman E. Walters, manager Ho sald data derived from mately $401,000. Noon quota of Product Development for | radio-isotope tracers often will tions and the momtng's trans-Curtiss-Wright Corporation's foreshadow the side effects, Electronics Division, sald isotope potential new uses and potential radiation gauging is helping in-hazards of drugs, dustry reduce production costs, Massaud T. Simnad, of. Gen-
Dynamics increase yields, improve quality etat
Corporation's and accumulate cavings to the General Atomic Division, sald tune of A half-billion dollars nuclear irradiation and radio-
tracers annually.
have
used in- He estimated that US$30,000,-creasingly in metallurgy in re 000 has been invested in gauging cent years with the mass pro- equipment utilising isotopes as duction of radio-isotopes.
Ho sald nuclear irradiation the source of measuring power, and sald
been
RUBBER MARKET
New York, Mar. 18. Rex rubber futures today closed unchanged to 20 points lower with sales of 70 contracts.
17.05
May
July
Sept.
Nuv.
JA.
Mar.
May
57.10
Standard contract closed un-
changed to 20 points lower with
no sales reported.
Mar.
May
July
Beat
Nov.
Гал.
Mar.
SINGAPORE
At the
8888
27.10
21.10
27.10
opening the market
about 4,000 Faurea "ha been employed both as D wia higher but ensed again 95K Land XD 31.25 31.75 1,600 @ 31.36 using radio-isotopes have been means to detect minute quafill around the previous levels on
nctions were:
19
304
Sharon Buyers Bellera BANKS
IK Dank..
Sales
800 3 F 800
700
2016 INSURANCES
Union
72
100 72
Lombard S
SHIPPING
Wheelocks
✡
34%
DOCKS, ETC.
ས་
K. Wharf..
33.23
6.10 3,300 0.00
121
121
Provident
31%
(0)
(N)
11.00 12.10 10.00
244 LAND, ETC.
1,000 fi
IK Intel
13:10 18:00 1,300 x 150A
4435
Humphreys
14,0)
2012
50% Amalg. ****
1.225 1.275
115 125
2015
Tram... 22.70 22.09
700 22,00
500
100
9134 Yaumall
97
100 Mi
RDO
62. Light...
17 17.10
Electric
23.80
Telephone
20 RUBBER
2052 UNITIES
42
United Press.
American Stock Exchange Exchange Rates
volume was 550,000 shares.
Dew-Jones closing averages
were:
30 industrials
20
15 miles
40 bonds
$$ stocks
Comm. future price Index ..
Closing Prices
Alden Inc. Acy,
Allled Chemical
Allis Chalmers
Am. Brake Shoe American Airline Amerient Cable & Radin Corp. American Cyanand Co. Amer. & Forgn. HowET Ain. Gas & Electrie Ain. Mach, & 'dry American Metal American nielting Am. Sugar Ref. American Tel & Tel. American Toh. "B" Anaconda Cuppar Armeo Sleci
Armour... Allas Cora. Mining Baiwan-Lima-Han. Baltimore & Ohio
Belal Finan
Bendix Aviation Corp. Benguet Cons Bethlehem Steel
Isoving Aeroplane Borden (The) Co
Burroughs Add Markkie
Campbell Soup Co.
Canadian Pacte Case (3.1) Co. Cal. Tretor
Celonese Corp.
Financial Corp. Chase Musial. Bank Chrysler Motors Cloeit Peabody Coluate-Paimolive Co Colombian Carlos Co. Commercial Credit Commonwealth the Continental Oil of Del.
Consolented Educon Crown Zetterbachi Cuba: Amer. Sugar Diamond Alkall Diamond Staten Co. Dougies Atrerafi Dow Chemientas
Dupont de NealourS Eastern Arine Eastman Kodak
water tight doors, the site loud, the less the fact that Elberla Pro National Gas
ing ports, the ship's cargo hatch covers and 'tween-dock
covers
a country with virtually no "trade of its own and ersens with a population
Do greater are all operated hydraulically than that of Liverpool and They were supplied and Monchester combined-has, in stalled by the American mem the space of less than ten years, ber of the
International Mathecome the fourth largest ship. Gregor Organisation, which has owning country in the world. established a leading position
throughout the world in the The Association said the com- supply of hydraulically operated petition its members
had 10
hatch covers of various types. meet in the past was only on In 1957, the MacGregor Or- the basis of reasonable equality. ganisation fitted 251 ships with
It had never complained of that the outcome.
Family Finance Curp.
General Motors
Gildden Co
| Gulf Oli
XD 24.90
INDUSTRIALS Cement STORES, ETC.
Bilmiress was done In the Jocni Dairy unofficial exchange market this morning at the following water:- 417.38 U.S. dollar (per $0
104.15 Storing notes (per £1)
33.00 || Australian notes (per £1) 151.97 Indoneola ruplah (per 100)
20.80 Stam tieal (per 100) 155.41 Singapore (Straits)
101
20-1
215%
5.81 Watson, 10.06
1143 COTTONY 11.40 Textile
20.00 INVESTMENTS
100 Yongisze...
20
20
150 20.90
a = 8
10 of 24.30
400 25
and as a
licensed to Industrial organisa-tles of impurities Hons
unique tool to study the struc ture of metala."---United Press.
RESEARCH
"Markel research throughout New York Sugar
industry
convinced is
market is less than 15 per cent saturated," he said.
of the savings Waiters told effected by use of radio-isotopes An an address prepared for at the Atomie delivery today Energy Management conference being held in connection with 1058 Nuclear Collgress.
Forum
and
Market
New York, Mar. 18.
World No. 4 sugar futures closed today 1 to 3 points higher with sales of 116 contracts.
some selling, induced by re-
ports of recaplure of Medan.
Later again the market was generally quiet with sellers In- Terest for lower sheets, Futures: No. 1 rubber per 1. Apr. 17-77 bay 774-20 No. 3 rubber par ib. Apr.
No, 3
NO 1
Spot rubber umbaled
Blanket crepe
No. 1 pale crepe
LONDON
7019-7045 67-60
7714-7734
04-60
00-8
The tubber market was sieady with spot down 3/10 pence to 22-15/16.
No. Ray pot ........... Battlemon house lei:
Domestic No. 6 sugar futures
April
the closed I point higher to 2 polala
con-
May
June
April/June July/Sept. Oct./Dec.
The management conference by the Atomic was sponsored 16.90 Industrial 200 11.30 National Industrial Conference lower with sales of 68 contracts.
311.60 Donrd. More
The Cuban Bituation than 5,000 lop-
inued to be a dominoting in ranking nuclear scientists, en- gineers and management oflleials fluence from the bullish point of Jan./Mar. were sitting in
15.00-
11 1,000 s 16.80
2,200
16.30
1.000
11.70 11.85
4,00
5.45
The New York Cotton Market
New York, Mar. 18.
Cotton futures today edged upward after a waver- ing start, scoring gains up to $1 a bale, halt- ing the irregularly lower swing followed in the several sessions preceding.
Closing around the day's best
49 levels the list showed net gains of 13 to 15 points. Opening prices were unchanged to off 8 points. New Orleans also closed
2444
30 up 13 to 15 points.
243
Traders
found File in the
news w account for the turn-- accom-
GIF about. The rise was
Singapore Stocks
Singapore, Mar. 19. Brokers today quoted the fol- slow lowing stock prices;
Covering by recent
J4th
plished
器 rather
10 market.
DA
demand
53
61 sellers, along with a routine Batu Lintang Rubber
Ltd. trade
featured the Betish Bornea
Syndicats 342 trade. Analysis thought the
Co.
Opening
* $1.775 Petroleum
Ord.
40 200%
KTEX
March
on the week-view, traders sald, while offer- General markets, cif basis, long Congress co-ordinated by lugs from other areas, such as April the Engineers Joint Council. Brazil, tended to act unfavour-Estats crepe thin April
R. G. Abowd Jr., a project ably on the price structure. engineer at Ethyl Corporation's
Contract No. 4 (world)' Research
radioactive
May
Laboratories in De troit, told a panel meeting that July
tracers offer the Sept. fastest find often the cheapest Oct.
Mux
pal-feenin per Th. fub Cuba 3.40
Open Interest: 0,125 contracta.
Contract No. 6 (domestle)
ments
for telling which fuels Morch and lube cils give the least wear in automotive engines.
TRACERS
May
July
Nov.
thick April
AMSTERDAM
2216-23
3.431
3.42 2.43
3.41 The rubber market was dull. 3.41 Prives closed today in guilders
per kilogram, cit 5:42. follows:
April
0.5
No. 1 rubber
2.30 nom.
No. 1 rubber
2.12 nom.
No. 3 rubber
No. 1 pe
6.02 4.73
In the trecer method, a car's Sept. plston rings are plated with pat-teenis per ib. cif NY ex- radioactive chromium. As Uny duty) parlicles wear off, they collect Open Interest: 2,172 contra cia in the lubricating oil, making a radioactive mixture,
Engineers
measure the radiation .from
United Press.
this oil to determine how much London Foreign
wear has
Lakcen
place, even during brcok-in and short driving periods.
10
Exchange
London, Mar. 18. Closing rates were: New York ...... 281-0/10-2.81% Montreal Amsterdam
Brussels
not Copenhagen
Frankfurt
Milan
5.48
2.74-15/15-2.75+1/10 10.02-10.023
139.60-139.83 19,3315-19.361
11.75-11.70%
Abowd said the tracer method is used to find chemicals which
added can be
gasolines or olis to reduce wear, and to make sure that chemicals added
do for another purpose cause extra wear.
oil company Another searcher, A. I. Snow of Binclair Stockhotin Research Laboratorica, Bald the Vienna
Zurich
Others unchanged,United Press. radioactive piston ring method will measure wear during start- u: of an engine. He said woar at that time "carinot oblained easily Els kl
.......... 27, 01
improvement could be atiri Consolidated Tin Smelters buted to the lack of concerted Fraser & Neave Lid Ord, 2.65 selling us much as anything | Fraser & Neave 71% cum. Gammons (hialaya) Ltd... Hongkong
Shanghai
The curb in selling, attributed Sportially to technical reasons, Also reflected wariness in face or Washington farm legislation 17542
371 uncertaloties, plus backwardness 104 of new crop preparations, at
28%
seeding, in some sections of the south.
Banking Corp.
Hongkong Tin Ltd Kumpas Ltd.....
$4.05 $2.30
$400. is ed $1.00
Kuala Kampar Tin ....... Luna Rubber Esuites Ltd. $1,00 Malayan Breweries........ New Serandah Rubber Co.
93.55
$2.40.
$1.0245 12.624 50.91
$1.121
$10.70
$112
$3.12
re Paris
or accurately
by other methods."
Cther speakers discussed the use of radio-Isotopes to study drugs, motals and texilies,
Ltd. Pelling Tin Lid, Raw
today Rates Hotel cotton exports totalled 6,030 bules. Total for Singapore Cold Storage 35 the season thus far is 3,744,440 Straits Trading
Strails Steamship bales vs 4,074,71 bales sime United Engineers Ord. time last year, according to the Wearne Bros, dang
China Mail exdivi exall. New York Cotton Exchange.
100% ATAY
General Electric
Firestone Tyre & Rubber Ford Motor.....
84
402
enteral Foods
55%
Gen. Pub. Cetty Off
23
54%
Goodrich (U. F. Co.
Month
Volume
Open interest Special,
Goodyear Tyre
Mar
2,000
Heyden Nowport Corp.
13
3,000
245,300
July
0,400
215,300
Homestake. Mining Co. Ingersoll-Rand
Oct.
1,000
206,100
8216
104 MET
Dec.
10,000
147,300
5,100
Interhemical Corp.
235% July
May
2,700
111,200
Total
7.000 43.900
63,400
1.007,400 bales
73
BT
3711
001
Inland Steel Co.
Int Bulness Machines
Int'l Harvester International Nickel International Paper Int Tol & Tel
its products and sales of hatches been fearful delivered totalled £7 million. But the novel competition" The grand total of the chips of the so-called flags of con- fitted und under order for ungvenience which hod emerged excreds. 2,000, It has bem and Increased Li startling John-Manville Co.
Kennecott Copper
Meyers Tob, Co...
• Loews Incorp. ........ Le Star Cement Co. Lowenstein de Sonat EtcDonnell Aircraft
proved that the quick operation manner in postwar years was Led Aircraft. of these hatches, together with of a different character altoget the use of "flush" "tween deck | ber, it added. cover which eliminate coam- ings contribute substantially ESSENCE towards cutting turm-round times la port.
Stock Exge.)
Merabi Iron Corp. Minnesota Mining
Mission Development Monsanto Chenieni Cr.
tontgomery Ward National Cash Reg. "A" Motorola Nationel Dairy Prod.
Lead National Halloni Bleel Corp. low York Central
Owen-linols Giao
"The essence of it is that it is The cost of the Comet
virtually tax free, and, as the WRA Association chairman hns over $11 million and MacGregor cquipment accounted for about recently stated, if taxation and $1 million of the total. Mac-allation continue in this country Gregor lost about $200,000 on on the present scale, the British the contract, but it expects the merchant marine canno Hope prestige to be gained from its indeanticly to survive against
Norfolk & Western Rty. the competition of shipping, the share in outfitting this proto-|
of which arc not Cila Mathieson type vessel to more than effect carnings
subjected to tax," the report
Oila Elevatorz the loss.
said.
criticised the proposal that the cost clearing the Bucz Visual appraisal of a situation Canal last year should be palu Pen. Salt Co. developing at cea is possible, without the aid of tables and The Association pointed out the necessity for plotting, with that since about 40 per cent of the aid of a new marine radar the ships concerned aro British known as the Escort,
owned or chartered, it meant
The report also
ESCORT FOR SHIPS United Nations
London.
by Canal users.
The equipment helps to pro- that British shipping interests vide a quick and accurate assess would have to pay between a ment of the action to bo takoa third and a half the entire cost. to avold unpleasant situations at "There is no Justication close quarters.
proposal, whatever for this
The Equipment consists of pays the report. "On what four main units which can be grounds of propriety or fairness fited to ships ranging frog | can it be claimed that the ship- to ping industry obould be singled farige ocean-going Incre trawlers: It Is made by the out to pay the expenses incur British Thomson-Houten Com- {, red-by government for the роду Limited of Rugby, Eng-wark of cinexetme?” (the report Lond
mali-Unitech Press.
Oxford Paper 5. Facily Gas à Elec.. Pan American Airways Paramount Pictures Parke Davis Co Ponny J. C. 00.
Philip Morris Procter & Gamble Co. Pittsburgh Plate Clam Pubileker Industries Pure Dil Kige Radio Corporation Itepublio tel Reynolds Moia) Bears, Boobuck & Co
NEW YORK
109,200
Prices of cotion futures closed
today as follows:
Spot: 30.000: May: 38.72
July:
401, 12572: Dek: 35.95: Dec: 3333; Mar: 13% | 30.32-33; May: 30,51: JULY: 23,38,
33%
121
Am
NEW ORLEANS
Prices of cotton futures closed 27% today as follows: 2012 Spa: 34.54: May: 35.70; July: 35.90:
Ol: 30.20; Dee: 3031 Mar 3051. 1994 May: 384; July 3301. -
LIVERPOOL
Cotion future closings, in pence per lb. were as follows:
Old; contract; Mar/Apr: 25.20 May/June: 23.23; Jul/Aug: 25 51: Oct/Nov: 23,08:
Dec/Jan:
20.10;
Mior/Ape: July/Aug: 2033;
35.781;
Oct/Nov: 3; Dec/Jen 20.00:
4012
Mar/Apr 26.20.
40%
Now contract:
May/June: 29.00:
Mar/Apr: 28.11.
Colton future
cruzeirog follows:
SAO PAULO
closings, in
per kilo were ha
July: 40.70; Oct: +1.80; Dee un- quoted,
In the United States, the average price of one-inet col- Lon
14 designated spot markets was 94.02 cents.
Total:solos were 13,400 bales, -United ProsK.
SHIP
BENALINE
TWA
17402-1747
110214-11023 14.5245-145216 7212-72.45
12.274-12.274
2.04 izm.
2.30 nom.
-United Frem
LONDON STOCK
MARKET
London, Mar, 18. Lendon stocks turned very quiet today though there was a lack of sciling. Turnover was modest si 7,042. bargains recorded.
British Governments drifted lower in the forenoon but res covered in the afternoon, elosi, mostly unchanged.
Industrials were quiet. There was a further ex AMOR from all shares with Royal Latch
and Shell Transport both down 2/0, and British Petroleum and Canadian Eagles down 2/-,
New York Foreign German Dawes and Young
Exchange
Loan
non-assentede both rose 1⁄2 to new highs for the past 12 months, Two Japaneco non- assenteds those of the 19079 and the Tokyo & per cents-rose £1 and that of the 1824s gain- 102-13/33cd £12; several of the assenteds 2,00
were fractionally bettor. 2.109 2.82
Dollar stocks ensier with their 0100
to 0 per premium down .1850
New York, Mar. 18. Closing rates were? J. F. Snell of Pazer Therapeu
Institute Lio
sald Isotopeie Canada
England techniques are "tailor-made" for New Zealand antibiotics, South Africa studying haw
Brazi Uruguay vitamins and tranquilisers In- teract with body chemistry.
Others unchanged-United Press. cent.United Press.
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