1958-06-18 — Page 9

ANSPORTATION

RUSSIA'S JETLINER 'THE MOSCOW LOOKS A WINNER

From ARTHUR BRENARD

Moscow.

THE CHINA MAIL, WEDNESDAY, JUNE 18, 1958.

LETTER FROM LONDON

WASHINGTON'S MOVE MAKES COPPERS

STAR

PERFORMER

By SYDNEY GAMPELL

I HAVE just made a close examination of Russia's astonishing Ilyushin 18 four prop-jet airliner-by permission of the Soviet Air Ministry.buoyantly, perhaps because cop tubes reported that all its plants itself suster

I have to report that this air- eraft--the Ruslans call It the

Morcows the first real chal-Push Button

lenge to Britain and America,

who since the war have supplied

most of the world's airliner.

So determined are the Russians

Tug Control

to Teak the Word's monopoly THE tug Flying Dipper, that they are offering the Mos

275 tons, has come into cow at the fantastic cut price of $1,000,000-far below the price service on the Clyde. This

of the comparable U.S. Electra push button tug. bullt by (3 milion dollars) and the A. & J. Inglis Limited of British Vickers Vanguard (Pointhouse, Glasgow, for the million dollars).

Clyde Shipping Company

outside Russia.

The "18" has never been reen Limited, is probably the most powerful diesel tug on the river.

But as I flew into Moscow in an American-built DC7C. I saw on the tarmac four of them

and another fling on a train ing trip with Russian Air Line Crew, why are to introduce the 'airliner to Soviet routes

month.

1 FOUND

next

Thirty-six hours later I was exonining an Ilyushin 18 a1 Morrow Airport,

This

what I found:

There is no

telegraph on the bridge or in the wheelhouse.

The tug to driven like a gear- less car and, carrying auluma- tion a step further, gives audible warning of impending mecharl- cal trouble. The captain drives the tug frum any one of four control points-two on the open bridge for use during docking and two in the wheelhouse, He has only to push a button to put any one set of controls into action and cut out the three can put the Log others. He from full ahead to fall astern in

the one movement,

necessary jegearbox changes being effected

In

THE FINISH is fine at least as good as Western planes, oume respects the techniques used are better than those on certain British aircraft.

The Moscow's "classical"

airliner outline obviously owes automatically in a few seconds 10t 10 the Vickers by an ale pressure control which

la the key to the whole system.

quite Viscount.

THE CABIN and seating

arrangements are exact copies of COMPLEMENT

British and American lay-outs.

But some of the equipment is far

too heavy by our standards.

I

Her complement Includes two

the although

ship estimate that at least a ton could engineers,

the maximum

be saved by using lighter metals, provides

THE COCKPIT equipment Is mechanical akis. A siren warns overheats and a excellent, with every aid to it the engine navikatk and bad weather bell draws attention to any foull nir pressure necessary for the flyin.

IN THE AIR the Moscow vitni cantrol handle

most as easily as Western airliners and better

that emne.

I was the Best Western avia-surface speed of 12 kota. She tlon writer to be given fuit fuel-is powered by

tien [1 study the capabilities,

MYSTERY

Designed for deep sea, as well As for estuary work she has n a seven cylinder plane diesel engine supplied by British Polar Engines Limited. Glasgow, h. She is developing 12,000

Intest ulso equipped with the high frequency radio equipment and with radar.

A senior official of Belgian Air Lines told me his Brm had been offered the Moscow at $1,000,000

and delivery within

months.

Sout

The Mosgow is a line plane," Flights To Nowhere

he sold. The mystery is how

the Russians can offer it at such

a low price.

"Quite obviously the airlines

of the world will have to con-

der it seriously

and deliver}) tractive,"

In A Britannia

as the price CANADIAN Pacific Airlines crew instructors will soon dates are so di-

be Bylog the 5,000-mile lights the Britannia is of which capable through varying weather conditions without getting their feat off the ground.

If agreement is reached with British European Airways, the Moscow will be seen at London Airport this summer.

Household Things

Aid Aviation Checks

THE

The setting for these "lighte will be a flight to nowhere"

the modelled Aimulator

ON

the prop-jet which recently brought into The slmutator will look like the front section of airplane. Britannia. Hall the

Britannia

pirline service.

every

THE flight tosts of the half electronic train, the pilot

trainer will duplicate aro cockpit detall of the actual air- now making steady progress craft.

Lockheed Electra

In the United States. Natur-

го-

of steel stock

London, June 17. Copper has been the star performer in the week ended June 14 thanks to Washington's proposal to stockpile 150,000 tons of United States production during the coming year at a cost of $82 million. The proposal still leaves many obscurities and there is ample experience that stockpiling purchases are good for markets only while buying is in progress and can leave a bitter aftermath when it ends.

bus bren redistributing But the market responded A leading producer

than ever. Other Germans, do per was already regarded as were on shors time and although accumulators, the

times not play poker and are not re- sounder In tw importante cividend Was seven respects. First. It was felt that covered last year, it expressed distributing quid reserves-for the price should average higher doubts about inaintaining its from it. nver a period because the recent dividend this year. price it protracted would not

Mr Harold Macmillan appeurs produce enough copper. Second-

scored Fuccess ly, a slump. has brought some to have permanent rains by Inducing notable as woolly in convincing tex Recept his American hosts of the need labour,

defto enlarge International liquidity, measures of economy ciency.

He explained that unless players all chips are who accumulate willing to pass them out again, the game cannot continue.

unior

Serious Signs

Lees pleasantly the week haa brought most serious signs that the recession has spread to a major British Industry. See output in May was reported rather sharply down for both home and export markets,

as

The trouble is that Americans who play poker and understand the polni do not at the moment need convincing since they have been passing out chips very fast: in recent weeks American guld

Britain's Trade With Colony

Fourfold

The Bank for International takes a hand by Settlements calculating that despite four- told enlargement of the world's

1938 sterling advances slave

of aggregato reserves the rallo

(gold, dollar and sterling hold- trade turnover, Ina) to world

hus excluding United States, fallen frum 42 per cent in 1938 to 25 per cent in 1957.

sources

of

Mr Macmillan and his hosts on the appear to have agreed

of enlarging desirability

International The Monetary Fund and the World Bank. It is certainly desirable --If only because the resources are reckoned in 1944 money which differs greatly from 1938 money-but no feasible enlarge- ment will go vory far in con- parison with the many billion dollars of missing reserves.

Questions In The House Solemeals arques

Of Commons

London, June 17,

The Bank for International that essen- tials for containing the present rercasion are an adjustment of prices and production and crea- tion of easy capital market con- dillons. Americans who have the last twa done worders on

other are to work out new a rising price re-

on eesskar-while beart

Wall

still trying.

and nothing on the

Mr John Profumo, Colonial Under-Secretary, today

discounted a suggestion by a Labour M.P. that economies of both China and the United States benefit more than Britain from trade with the Britishing that you cannot argue with colony of Hongkong.

1957

Britain, ho sald had import and exports in favourable balance of £31 which came from and went to million in trade with Hongkong | Britain, China and the United in 1937, he told the House of Commona.

Mr Ernest Thornton (Labour) had stood what were the per- centages of Hongkong's total

Chatter On Wall

Street

Sintes

The Figures

· Mr Profumo replied:

"The figures per cent importa were: 13 per cent from United Kingdom, 22 from China, 10 per cent from the United States.

"For exports the figures were: 11 per cent to the United tu Kingdom, four per cent China, seven per cent to the United States."

He also said in reply to 0 that 22 per ernt of question Hongkong's cotton-plece goods

the

Street Jest their shirts in learn-

one 10 four billion dollars of created money every month.- Chino Mall Special,

HONGKONG

STOCK

EXCHANGE

Our Own Correspondent

.Businese done on the Hong-

Shares

BANKS

Buyers Bellery

Nales

75

BK Bank INSUILANCES

UNKAI..

SKIPPING Waterboat 10.00 Wheelocks

5.20 6. 2,000 t 6.20

COMMODITY PRICES

FOREIGN EXCHANGE

NEW YORK Closing rules were; Canada

England ometat

H

Australia

30-day

90-days

New Zealand South Africa

India

Pakistan

Other unchanged.

LONDON

Closing rater Wirel

New York

Amsterdam

Montreal

Bruscia Copenhagen

Frankfur

1.03-27/03

Dizati

2.25

2.30

*.612

.0077

110 .2710

(-2,51-3/10

70-11/10

Parla Vientia Zurkeli

Other unchanged.-U.P.1.

11.70%- 178545-17443 2174 72.44-72.47 12.235-12.2371

COTTON

NEW YORK Prices of cotton futures closed loday as follows:

Spot: 30 25: July: 36.02; Oct: 30.53; Dee: 30.79 Mar: 36.03: May: 30,90; July: 38.13 Oct: 54-68; Dec: 34.37. NEW ORLEANS Prices of cation futures closed today as follows:

Spot: 5.10 July: 3000; Deli 36.31; Dec: 35.10 Mar: 30.00 May: 30.01. July: 30.17: Os: 34.83: Dec: 34.88. LIVERPOOL.

Cotton future closings, in

pence per lb, were on follows:

"American Contract July/Aug: 25.00; Oct/Nov Dec/Jan 20.60; Mar/Apr Mas/June: 2043

July: 400; Del: 45.00; Bec: 44,00; Jaar: 4400; M03 4109,

In the United States, the Average price of one-inch cotton markets at 14 designated spot was 34.80 cents.

Total sales were 33,100 bales. U. P. I.

RUBBER

Rek

NEW YORK rubber futures today closed five to 10 points higher with sales of 38 contracts. Cloxing prices:

July: 20.23 Sept: 20.11: Nov: 20, 11 Jun 20.05; Mar: 20: May: 20.: July: 20.

AMSTERDAM

The rabber market was quiet, Prices closeÌ In guilders per kilogram, cit July as follows:

No. 1 rubber

2.13 nom.

No. 1 rubber

2.09 nom.

No. 3 rubber

3.00 лот.

No. 1 reiz

3.49 nom.

SINGAPORE

The market was quiet with a small tranzaction. Futures: No. 1 rubber per to July 343-74%

Aue 74-7012 No. rubber per lb. July 1933-783% No. 3 No. 4

Spot rubber unbaled Blanket CET.

Ne. I pals crepe

The

LONDON

SUGAR

World No. 4 sugar futures closed two points higher to one point lower with sales of 841 Contracts.

Domestic No. 8 rugar futures closed unehangril to one point lower with sales of 104 contracta,

Contract No. 4 (world) July: 3.50: Sept: 3.43; Oel: 3.42; Mar: 330; May; 357: July: 3.26 Rept: 3.70; Spoi-cents per 1b. fo Cuba): 3.40: Open Jokerent: 7,420 contracts.

Contract No. U (domestic)

July: 6.70: Sept: 580; Nav: 5.79) Atari 5.79: Spot-scents per b. c!! NY ex-duty): 8.00 Open interest: 2009 cutracts-U, T. 1.

METALS

NEW YORK

Prices of metal futures closed tody in cents per lb. ns follows:

Lend

Juty

Sept.

ze

Sept

€544-455 13

Capper

62-0211 7415-75

Juży

Sept

561-5815 in

81-03

July

Supt.

rubber market was stagnant with spot at 22 5/10

pence per lb. Prices: No. 1 Has spot Settement sous

term:

10.801

20.85

0.141

23.01

20.12

04.00%

13.374

closed

2214-295cing in sterling per long ton as

2221-2214

2221-2215 Spot 223,-224

3-month

LONDON

Prices of inctals

follows:

July

Buyer Seller

AVE

221-2215 Titt

25.00

Sept.

330

7:30

20.33

July/Sept.

7291

730

Det/Dod

221, 221)

Conner

Jan/Mar.

2231-2211

pot.

20415

보셨다

20.30;

April/June

222-2215

3-month

(2002

2004

General markets, cif basis, poris:

Lead and half

June

June

July

Sep!

In

were ar

Aug

Zing 2nd ba

Estate arepe thin July

0531

thick

20.P.I.

Mixed Contract July/Aug: 25.07: Oct/Nos: Berlan: 2437: Mar/Apr: 20.07: May/June: 24.07.

SAO PAULO Cotton future closings,

Idio

cruzeiros follows:

Der

June

Scpt.

Stocks Climb Again

C4

COLLU. P. I.

On New York Market

Du Pont Gains 8 Points

Stocks soared today with Du Pont

best and the whole list at new

At the best levels the in- dustrial average was up more than four points. This figure levelled off before closing but there was no pressure la pol and prices held gains generally,

Trading fell off slightly from yesterday's level but la sill re- Inlively high.

All the chemicals rose with Du Pont by fractions to almost 2 points,

Cat. Tractor Cetanero Corp. C.I.T. Financial Corp. Chase Maubat, Bank Chrysler Motors Chuett Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Buec. Consolidated Elizon

Contrental Ou of Det.

Crown Zellerbach Cuban Amer, Sagar Diamond Alkintą Drumond Mateli Cu. Douglas Alferalt Dow Chemicaj Dapeal de Nemoirs Best Kudak

Airline

Jan

El Paso Nallons)_Gas

General Food

General Mokure Gean P U1 Den. Tyre & Rubber Getty bil Parko Davis strengthened Gilöden Co. ate in the day when a Federal Judge dismissed the Govern- zent's civil anti-trust casc cgainst the company.

Goodrich B. F.) Co.

Goodyear Tyre

Coppers held advances ranging and 22 per cent of shirts export-kong Stock Exchange this morn

ing amounted to approximately

lo, more than a point. Steela

Yandy Tanze Corp. ed went to Britain.

ruled firm $115,000. Noon quotatlong and

Autos ran up sub-

Firestone Tyte & Rubber Mr Thornton: Do these gures | the morning's transactions were; New York, June 17.

stantially and then kvelled off.

Ford Motor to indicate that both not tend

Halis Armed as did utilities. | ticneral Dyaumies Technically speaking, acchina and the US, benefit more

Special tasUCA showed gains as eclete cording to E. F. Hutton & from trade with Hongkong than

numing to more tinn Ove Co., the way is being does the UK.?

points. poved for further advances

Favourable the which could carry Dow-Jones all the way to Mr Profum: I think 486 on this move.

percentago figures show that the Walton & Co. believes the 13 per cent is worth £42 milion 1 per cent only £21 market has reached a level and the where supply areas will retard million. Thus we have a favour- able trade balance between the the advance, and until these are penetrated the market will have UK, and Hongkong of £21

to mition. to make several attempts

Mr

Silverman Sydney push through the overhead, sup-

(Labour): Can he confirm that ply.

the value of cotton imports inte this country has risen in seven years from £30 million to £100 million a year?

ALTERNATING

Bondex Weekly stock bulletin ys the outlook at this point is for alternating strength and Outside equipment will ally those tests are carried produce in-flight sounds and

weakness in the market ter

an intermediate our with the help of com-conditions and the "crew" minating at

and

undertake plicated

o fight range of 480-385 in the Dow- expensive inside will

Jones Industrials. paper. an planned which includes already equipment,

Van Styne, Noel & Co. DORA zomo unique measuring and During this flight the simulator

retent new high bringing now the buying into the market, par testing instruments in addi-can create more mock emer

from

technical Licularly

a tion to all sorts of photo-average pilot would cacounter in

simdpoint. graphic apparatus and film a life time.

& Josephthal

Co. срув Northon Pacific's carnings for 1933 may approach $4 a share against $4.25 a year ago,

cameras.

But very simple alds are also

employed to perfect the aircraft

gencies in an hour than

and to check its behaviour in Djakarta Wants

household Polish Ships

the air. In some cases one may even And

common articles

the elaborate smong

in Lockheed's new equipment flight test centre, which is valued at $3 million.

of

Dakarta, June 17. THE purchase of 24 ships from Numerous turis

ginzed Poland on long term credit yam, for instance, are stuck on will be one of the main topics the outside of the plane to give

negotiation between for

SHOW MORE

Francis 1. Du Pont & Co, saya Telephone 1958 Internationa}

It has riren Mr. Profumo: vory considerably indeed, But I hope you will note the insi part of my previous answer Reuter.

LONDON STOCK MARKET

* * 9 * 36 30 CARS AS

100

100

42 500 $13)

12.30

21.30

1,200 $3

DOCKS, ETC. K. Wher! Dock Provident LAND, ETC.

21.20 21.30 1550 € UK Hotel HK Land. 331 3332 GOO #3314

Humphreys 15.20 153; Realty RUBBER Amalg Trut A. Tawah Sangala as UTILITIES

1.0 5,000 43 1.09

1475 1025 5,000 1.50

5050 ייי הפל!

Star Ferry Yasumatl Light

ના 1931ન

200

00

05 e 17.00

40617.00

300 12.00 1,000 fr 28

200

500 10

Of a total 1,195 issues iraded. 497 were higher with 121 at with new highs, 432 lower

| rone touching a new low.

Now York Stock Exchange volume was 2,055,009 shares.

New York, June 17. up eight points at its

highs for the year.

17

CST

27

53%

Standard Dranda-

Standard Oil et cal. Standard Oil of Ind.

Standard Oil of 1,3,

Stoop Rock (Torchio Exgo.) Sterling Drug Co. Blokely-Van Camp.

Etudebaker-Packard Corp. Swift Co.

Техал Со.

Textron ine,

Tide Water Ausn. Oil

Ine.

TH-Cont. Warranty ..........

234 Twentieth Century Yox Flin

Union Carbide

53% Union Cit et Cai,

***

Union Pacifio Raliway

United Airtratt

331

575

th

l

United Car Corp.

3

U.S. Pull "B"

12

UB. Gyneum

US Lino Co.

US. Rubbor

9. Betting

417

GON

M

00%

SHLE

Grumman Akeratt Gulf €1

Heyden Newpo

Cop.

Homestako Mining Co

Ingersoll-Itand

Inland Strel De

747

fat! Business Machines Int'l Harvester.

371

G1

International Nickel International Paper Int'l Tel & Fol.

John-Manville Co

Kaiser Aralustey Karine C. Power & Ligist Rennercit Oopper

New York Stock Exchange | Liggett Meyers Tob. Co. bond volume was $3,540,000,

Lockheed Aircraft

Loews LcOTD... Lone Star Dernent Du.

Auncrican Stock Exchange Lowenstein & Bon

volume was 1,000,000 Dow-Jones

4 20.30 30 Industrial.

100 (4 28.400 ralle

| 19 utililles

65 stocks

were:

Electric

.... 2835 2835

300 20.30

500

20.40

Mace E.

10.00

Telephone 2140 21.00

100 1 27.40

500 G 27.50

400 #256

100 OF 27.50

1,500 27.56

INDUSTRIALA Cement 2310 23.30 100 24 1:500 23 2,000 # 27

London, Juno 17. Industrials reached a now

high for the year in a firm | Amoy Can but quiet stock market. Dairy

The Industrial average

STS, ETC.

ED Wataon

COTTONS

net is estimated at a new high compiled by the London Finan-I new at $4 a share against $3.12 incial Times closed at 172.0, up 2x 1957... .Rock Island RR will 0,2.

17.00 17.00

11.30 11.20 1720

4.00 4.05

烹

ATO

4.025 1.000

100 * 1790 Dog Gr 12.00 50011-20

500.00

FXD 7 7.00 Nanyanad 3 MISCELLANEOUS Vibro INVESTMENTS

angleze... the

Allied an Impression of the airflow at Indonesian Government and the these points during the flight. The ecgineers engaged in the Polloh trade mission, the Antara fight testing of the Electra ise news agency said today. nai varnish to mark their in- struments.

show net more than equal to Gilt-edged securities were the the annual dividend rate.

feature of the day rising modo- Harris, Upham & Co. believes rately on continued hopes for an Floridu Power would raise its increase in the bank rate. current 2 dividend rate by the Copper isques were also high- year-end to $2.20 with carnings or reflecting firming of the expected to rise to $3.30 to metal's price in world markets. The agency said that attempts would be made to reach, an your... Gesteral Publie utilities quieting nows from the Mudie

may boost its dividend from $2ast. water agreement on changing the pro- 'Disinfectant

Gold abares Armed in late share...Illinois $2.10 "wetter and lets it now quick-ent payment

Power would add some 10 coola treding but tin-issues eased er, thus enabling the technicians Indonesia and Poland, which

Dollar stocks were higher. a shure to not if a rate increase to trace leaks in pressure ays has been rendered virtually use-

featured a tem cod-liver off is employed less

Instruments against foreign 10"protest

$3.00 n share against $2.00 Jast Oils were depressed on Exchange Rates

makes

kystem butween

because of Indonesia'

exchange posklänn

Franco-PreR30.

10

is forthcoming and then it could) German

rake is dividend from $1.50 to generally gulot foreign bond,

·! market.-U.P.r. $1.50 STAND MARATPUT.

40 bonds

closing

Comm. future price index

shares. Mass Inv. Trust Co.

J. Roy averüzes McDonnell Aireraft (Am

Closing Prices

Allied Chemicals

Ailled BVļis Xne. Allis Chalmers A. Brako B100 American Atriina reason Ain. Cable & Radio Corp. Atnerican Cyaramid Co. Amer. & Foren. Sower Ain, Gas & Electria Am. Home Prod. Am. Marg, & Fury, American Meta), van American Emelting Aan. Sugar B Americans 201&TVÍ American bb. "13" Anaconda Cupper Anne Steel ..... Arthours) Baldwin-Lima-item. 25altimore & Ohio

gneticlal Winance Bendix Aviation Corp.

Bebiphiem 6042

Boeing Airplans Borden (The) Co.

...........

18.08

Burlon was done in the local | Benguet Cons.

exchange market Una unheal morning at the following rates: U., dollar (per $1) Brignolas (per &1) Austrailen notae (per 2)). Indonesian rupish (per 100) stems tieni (pom100 Gingapore (tralle)

Hurroughs Add Machine.... Baila | Calif, Packing Corp. *******

Campbell Soup. Co. v... 2105 | Canadian Fasilio M.

.1.20

Came (J. 1) Co.

Stock Exge.)

Mesabi Iron Corp.

10 Minnesota Manag

7122

8. Steel***

Werner Broak ....

Westinghouse Air Brake Westinghouse Electric Western Union Tel. Co. West Va. Pulp & Paper Woolworth

Tin Council

Meeting

In Paris

London, Juno 17.

The International Tin Coun- cil opened its mooting in Paris today with its main intorost centred on the question of Russian and Chinoso exports of tin, The volume of these exports into Western Europe has been increasing since the beginning of year and they are. Dow pressing on the world market such an extent that the efforts of the International Tin Council to support the market and bolster the price are being frustrated.

110.75

Mission Developeiant

10.14

Monsanto Chenitcal Co

JODA

Montgomery Ward

34

the

00.99

Motoral Inc.

156.00

National Biscuit Co.

40

National Cars Rez. "A"

To

to

National Dairy Prod.

National Lead cred

National Steel Corp.

New York Central

#771% Norfait de Wemperes thy.

North Am. Ation

17

37

North-west Airlines (Com QHD Matides

0215

143

Otta Elevators

3

Owen-Fills Glam

44

Oxford Paper Co.

11 Feste Gas & Eloo,

139 Pan American Airwaya DIN

Paracount Pictures

30 Parke Davis Co.

Penny J.C. c.

Penn, Bait Co.

M Philip Morris

17914 Proefør & Gamble Co. Nilsburgh Plajo Ginás

4715 Pubile inchustries £15% Pure Out

24%adio Corporation 111Radio Corp. Pref.

Republin see) 2111⁄2 Ternoids Metal ..

Bens, Floebuck a Co Shell Oil Co._****** 411% | Baint Reg., Paper $72eony Mobilit

"Aircraft 2011 South Fuerja hoy Syst 447) Mouthem Co. (TUO) 29ai

Skinn lesionet, Cam Bouthern Railway" (Core,)

However, having · annumeed the level of export quotas for the coming third quarter of this year it seems unlikely that the

16 Council will make any change at

this junctura,

0414

H

$1

472x23

All the main tin producing countries of the world, with the exception of the Soviet Union and China, ore members of the International Tis Agreement and moment the producera have cut production and exporta under the Tía Council's 40 per sent overall reduction..

It is understood that the Tin Council earlier 'this' year ap- proached Soviet Russla ord'suge feated shy join the tin agreement or become associated in way with it--U.P.I.

som