1958-06-23 — Page 9

ا چند

SCIENCE AND

THE CHINA · MAIL, MONDAY, JUNE 23, 1968:

Weekly Report Of U.S. Economy

ENGINEERING Slow Recovery Expected

Tiny Family Safety Walk' 'Copter Is

8-Foot High

Prevents Falls

66AFETY Walk", a new

"accident prevention

aid for floots, stairways, ramps, gangways and vehicle steps,

already being

Amsterdam. ordered in quantity in DUTCH industrialists Britain.

last week took the

wraps off a tiny "family'

heavy, tough fabric coated with extremely hel mineral grains and its non-lips

helicopter which stands surface is weatherproof, water- just eight feet high and proof, sents two.

an

The

miniature

helicopter,

called the "Collbry." was given air-worthiness certificate Terently. Its inventor drew his plans while hiding from German Occupying troops during World War Twa.

RAMJET ENGINES

The type H-R beliemjeer, as It la offeilly men, Is posered by tiny ramjet engines in the Ups of the two rotor blades. The ramjet engines burung Razoline push the 33-foot long heltempter at a maximum of 65 miles per bour. Cruising good is 60 mph.

and unaffected by oil.

shock petru, heat, colet,

vibration,

It can be applied indoors or ouldnars

murtate, to concrete, terrazzo, tiles, wood and to iron All types of or steel plates.

resistant to "Safety Walk" arr

Are hazards, but a normal

variation speclat "non-park" 5s been developed for the Four of Royal Ordnance Dogode and chemical factories where additional tre and explosies risks are present,

Examples material

this

ol

FLOW which stand up to years of service and eliminates heckients even where all leak- age as frequeni, were on view Factory Equipment Exhibition 11 Farla Court, epckpit Londons, last month.

Two 12.3-gallon jucl tarles under the two-place

hold enough fuel for one hour's light.

Inventors claimed that either of the two ramjet engines would provide enough power to permit

a comfortable tandbag io

one engine failed.

Case

1 both wrat

ut, ywheel actin. of the loter

would still permit a safe land-

the

Multiple Signs That

Worst

Of American

Recession Is Over

HONGKONG Stocks

STOCK EXCHANGE

Our Own Correspondant

Busineen done on the kong Stock morning

Hong-

Exchange amounted 10

this

**-

$443.000, Noon

New York, June 22.

the U.S. Signs multipled last week that the worst of

industrial production, proximately recession is over but rising improving total retail sales and gains in personal income toward a new record did not offset general expectations that recovery will be slow.

A decline in the general com- modity price level during June indicated by weekly dila as prices droi steadily from the March all-time peak.

Industrid comimetitles those other than farm products midi

xls are also all in derline. This fosters beliefs mong nombs that the public will zoon start to loosen its spending with resultant stendy Improvement. whole reunONS.

But Whether

and the

3

Machine To Bore sharp and vigorous upturn by

Railway Sleepers

ing. they said United Press. A MACHINE for

Australian Package

Nuclear Reactor

A

Sydney. SYDNEY engineering firm, A.- E. Goodwin Lid, is offering for sale nuclear package bull in Australia.

trimming.

markick, azing and suring railway sleepers the rate of ten per minute he been de signed and produced in Britain ail orders for i have been placed by British Railways, the Southern Railway, Madrus State, foria,

by and

Campanhia Mogian. de Estradas de Ferro, Brazil.

The machine is controlled by e non from a contral panci ad special attention has been renetors paid in the design to preventing

stoppages caused by berasionad faully sleepers. By arranging for the boring heads to rise and fuit with the augers and guides to give support to the augers up to the untry into the sleepers, have been breakages Duter

A spokesman for the company said the plants were similse 2 the nuclear power plant installed the United States submarine Nautilus.

Under an agreement with mishmised. The machine can of relied on to produce 1 it Ako Products Incorporated

America plants with outpulsenstant rate over long periods, ranging from 2.000 kilowatts to the manufacturers state. 20,000 kilowatts could be built-i uslag components manufactured under licence in Sydney

to cautions approach to the sell- | twice

transactions were:

Move Through Wide Arcs

By ELMER WALZER

New York, June 22.

quotations and the morning's Stocks moved through wide arcs during the past week and closed with only a slight change from the previous week.

Sharez THANKS

UK Bank

Bayes Bellers

fales

700

800

INSURANCES rator..

701

Ir ne

0.45

SHIPPING Wheelvek

everything from Detroit, paints, Dime Savings Bank committed

as much mortgage bust-Waterial hg of next year's models which ness in May us in any one month DOCKS, ETC. will start earlier this year than in its history and its Vice- K. Whit

President Frederick Jackson de clared: "Don't tell me that have a recession."

Housing

لله في

25

102

we

Provident

BC Hotel..

12 12 00

21,50 2010

IK Lul Humphreys stealty....

331

15.CA 1.03

145 1525

1323 140

27.10 27 201

Dock 14.

LAND, ETC. New car sales in the first 1hird June averaged 13,750 rate unchanged cars daily, #

irst third of May. the them although in June of 1957 a slight

Private housing etarls were al ↑ RUBBER gain was registered. Production

annuol mate of 850,000 in April Amal remains cut back as deniers IC- general

TTit As of June but a heavy furease in bulking, fru inventories, for

dueed 10, an estimated 740,000 1958-contracts during May to a level Tram model cars were on hand, 15,000 only seven per cent below last • Jess than on June 1.

yeur strengthened forecints of a The United ugness Service. growing and strong demand for Star Ferry

economic research construction labour, materials Youmat Boston agency, estimated that 4,250,000 and services through nutos Aill be produced this year, mainder of the year. the lowest since early introduc- But tion of the 1950 motels. the First National Bank of Boston in its June forceast reluctant to predict a definite upurt for the auto industry. although it notes that 3 con- Unuing good demand for used ears might be carried over inte spending-for-the -1938 models..

Steel retailers furnished 120 week's most optimistte news.

But whether there can be

Autumn is still in doubt. The mest optimistic forecasts remain pened to the auto industry and

Change In

Gov't Economic

Was

Policy

A

Advertising

pcr

15

cent

the

re-

tnrut

500 103

600 1250

500 21 50 150021.00 500 m 21.00

200 M 333!

זה משנ

100 & 20.10

27 1700 + 27 1550 (z1

112

1820

100

19 00

400 18.O 5900 18.20

28 40 1.70

27%

ANT. 21.00

23 23.40 ... i co

11.40 1100

| A Light

Electric Macao E health Industry's

looked Tet better this past week, too, with NDUSTRIALS the makers of wolling mills and ToUES, ETC. other steel-making equipment Dary announcing that their abipments | Watron were close to last year's levels, 1. Kenw despite the fall in steel output COTTONA Textile XD itself. Backlogs and now olders Hanan from domestic and foreign steel MUSCELLANEOUS plants is sustaining the makers Cunst of steel equipment. United En- | INVESTMENTS gineering & Foundry predicted Yangt that sustained upturn in steet ed production after the June rush

oner

Vibro

2000 17.70

Trading picked up to the most active pace since the week ending May 9 with daily average turnover at 2,746,429, compared with 2,641,076 shares a week before.

Weekly New York

Cotton

Market

9000 By WILLIAM T. PLUNKETT

500 11.40

..

*អ៊ឹ

*

1000

7.00

14.00

5.75

45 400

HK & F

Invest

10 50 10.60 MACAO ELECTRICS: Did November

137. Book Juri: 27.

closes

30

Bank Of England

Statement

320

New York, June 22,

Cotton prices this post wack doycloped two-sided

다

pattern as trading slack- ened to the slowärt pace in months.

Covering in the July delivery, prior to first nalice day on Tues- day, braced the nearby menthe.

New crop

deliveries drifted Irregularly lower in face of multiplying uncertainties new fann legislation passibili- tics.

over

At Friday's close the list ruled nine points higher to 30 points 43 cents to down lower, or up $1.50 a bale compared with the preceding weeks. London, June 22. The Bank of England state- ment for the week ended 18, reads as follows:

Notes in eroulalien Public depelle

June

The bureau of advertising of the Amerleon Newspaper Pub-would spur new machinery and London, June 22. lishers Asaelation reported that equipment orders. There was a general feeling 50 per cent of all retailers look

Amid these major signs, Pre- ahead to summer business which in the City today that the will top the 1957 record.

Eisenhower's personal One Sident

(conomic adviser. Dr Gabriel. out of three retailers is planning past week has marked a

in the increased advertising, a positive Hague said the recession will turning point

and "very roon" and a great economic sign of renewed confidence.

in government's

tho movement" Of the 200 realers in 152 forward policy, with

economy will exme this autumn, more markets of all kinds-depart-

Bul to lustrate the diversity, flexible approach and ment stores, men's wear, wemen's

three cconomists who general all-round easing of wear, furniture-50

expected sure sales increases for advised President Truman, raid restrictions.

thot business condition will Im- June, July and August, and

predicted business prove this year but not enough to warten! the administration's per cent equalling 1967 totals. An aver-

"eany optimizm.“! age increase of five per cent was

One ronson for caution is the foreseen. Market action of this monilt, according to Francis 1.damage" of the recession and

the large unemployment no one expects to liquidated overnight. Excess tiparity his become apparent bat economists spe revived capital investment, particularly for products not now marketed, se The major

L Ket necessity

back to maximum employment. It 1s

then to 520

was done in the local Bainess

this antoficial

markel exchange economists tuming more than

mening at the following rates:-

5.79 ever toward the need to stimu-U.S. dollar (per $11

through Stering nutes per 1 late Exports, perimps

Australian notes (per C Indonesian rupiali (per 100 offset the declines in capital

Star Heal per aud spending by business.-UP.İ. Shgapore (Sirate)

allowances

On Wednesday, the chancetto, of the Exchequer announced he initial tax raising the A timber inciser is cluded

on industry to for plercing or incising the sur-

erpital investmem to one-half, face of timber in order to allow

dilfton

deep instead of the one-quarter an- aitorm

munced in the budget last April, penetration of huptid preserva-

Tha on Thursday the bank lives, to minting checking

Til was cut to the pro-crisis and splitting by reducing sur- 1/

tension uf the thnberge of five percent.

Son [Puan Robinson X

Restrictions on the acquisition of capital by shipping compattles Lamster. Rochdale, England.

have also been removed this past week.

The spokesman said the coin- ponents could be transported by air and set up quirkly in remote. places. The nuclear plant had Kreat possibilities for use Autaretion where Australia was development work engaged in and in mining districts where costs are high,China power Mall Speels.

NYLON FABRIC

BOAT SHEATHS

TYLON is

Doctors see baby-to-be on TV

. SUBSTITUTE for ante-

natal X-rays, which

Du Pont & Co. and investors. rate department stores as sound bety 14 maintain earnings throughout the recession.

Tutal retail business for 1958, 10 UUS of Boston, according should qual the 200 billion volume, of 1957, despite the leg- ging dumble goods sales. Per

It all looks to if the squeezesanal income is estimated at not strange, is gradually being relaxed.

The future now looks bright peak of 346 billion by the end of you, compared with 343 for glll-edgets

In- and the

tion last year, although cut- support, but were

was less

The

which

dustrials The "shorts" too had coration cammings are expectel Greater foreign ald, in order toj my flowing la this direction. to decline by 20 per cent from

In the foreign bands stelints, German stocks

A Jwe steel rush caught mils

have been

1057.

No fabric thing are now known to be harm. iftic, demand on servent days, and engstemiers of balatice, Iren

process for wooden boats,

The material is guns to the bare wood with a specially veloped adhesive and requently painted over with vligt resin nish.

is sub-

it is claimed that the process, which is the

Q subfret of patent application, can be used not only to make a leaky boat watertigin but also to provide protective sheathing which will add to its life

RESISTANCE

boen tested by a team of doctors led by Professor lan Donald at Glasgow Univer- sity.

Using i machine which generates highly penetrating wound waves fielend of X-rays, the doctors have obtained vealing photographs of unborn babies.

EARLY STAGE

IT-

The "ultrasonic" round waves notict ere reflected back from objects in the manner of radar waves, and produce a picture on

TV screen.

Nylon is used because of its strength, and abrasion resistance, It also rol-proof, unaffected by salt water and not altacked by marie borers.

The experiments are in an Bonly up to 45 feet have been early stage, but the doctors have sheathed by the proerss, which been able in detect forthcoming

in, claimed to provide a high difficulties in the birth of twins

degree of protection for boats un tropical waters.

IF THE CINEMA

LIGHTS FAIL

The machine was developed

by a Glasgow firm of engineers.

Rubber Springs

TESong

GREATER INTEREST Greater interest was also seen in the Japanese issues, where huber of the mare popular stocks were supported to the extent of rises of several points. Suez Canul have been inclined to

tase.

Wall

4

reports. MUIS expected Lost in Jame orders as a hodge ainst price increases in July und sted is now enjoying a mild buyers battle to get onions booked. Iron Age sald the June rush will probably is followed

July jet-down by

but the Budden demand points to the riska in allowing Atent In- ventories to drop too low,

Inventories

the increased

demand would

Private deposits verkee Goyrenment securities. Other sectables Receipts

Sterling 2,033,090,504 12.400014 59178.00 241,104,350 49.150.710

-. . 1.

0.4

on

UNCERTAIN

The weeke ended with the trade uncertain what to except the form legislation. The House next week will consider the controversial omnibus bill 18,74701 This woukl provide for an in- crease in production with lower price supports. Some observers doubted chamees for approval in face of administration opposition to nome features of the measure, pointed

by Agriculture Secretary Mr Benson's criticiran "Inosely drawn as a of 1

Exchange Rates

measure."

קנן

Outer quanters felt a bül be-

up by Senale can- Lorees would have better cliances

30.07

ing drwo

12.50

8.10

21.70 of passage and opproval by the

mininistration-U. P, 1.

WALL STREET MEN

ARGUE WITH THE ECONOMISTS

By ELMER WALZER

New York, June 22.

Wall Street is becoming more and more impressed with the

The market rose on Monday and

industrials, Tuesday in. declined moderately on Wednes- day and sharply on Thursday with a rolly Friday. Measured by the Standard & Poora index of 500 stocks, the average loss per share for the market as a Whole amounted to 17 cents.

STATISTICS

Businers statisties brought out many highly favourable de- velopments and Somc Jess favourable.

another rise in There waR steel output to a new high for the year. A new high for 1858 loadings and another gain in automobile production. Con- struction held ivell above a year heavy do and the total for construction slowly. Retail trade held well and was only slightly under a year ago.

Automobile shares enjoyed a

week. good

Chrysler netted nearly three points and General Motors and Ford nearly a point each. American Motors, second volume for the whole market, lost nearly a point.

to

Selling in American Motors which brought out 186,200 Was shares during the week traced in part to Louis E. Wolf- son wis later confirmed that he was disposing of his holdings th the company dmounting Bround 400,000 shares of 7 per cent of the outstanding clock.

Cifemtents generally moved higher with Du Pont a strong pot in one session. Rechtold Chemicals urted 2% poirits on the week.

Drugs were higher. Armour was a strong epot in the packers, Steels eased and oils were lower on the weeks-UPA.

Japanese Fake Pen Allegation

London, June 22.

A major British pan firm today circulated pictures of what it labelled "Japanese loka" of its product.

©

The Mentmote Pen Compuny sald a Japanese pen, alleged to Mentmore be copied from a

muxtel, was taking £100,000 them strong of busdress from throughout the British Common- wealth.

Mentmore Chairman Arthur Andrews, in circulating the pictorial "proof of the com- pany's allegation, declared that The Japanese pen was "a com- plete copy except they have steel nibs instead of guld."

The Japancet pen was priced at seven shilling compared British "12/V. In the

sold, the Japanese

business status to the point where it is arguing against the

of a second Mentinore

the economists on the future.

model, he

have

Bank Of France Statement

Although the base metal shares have been coming very much 1 the front, the kafir market hus also been behaving Steel Inventories have drop-: fairly well. Gold shares tradi-ped kick to the level of late

ን። the base 1955. tionally recede

the National Industriu) metals come up.

Conforence board reported, while and in Interest Canadian

ho cutbacks in orders in favour American stocks was at at some of heavy consumption of stocks what Inw ebb. The premium drove sleel production

to the Melal was downs a full point on the lowest level since 1945, week at 2 per cont

users. consumed about 3.4 inlilion Industrials which started the

tons of finished steel per mouth stron were grently week

In the Brst quarter of 1958 with coming encouraged by the Chancellor's unly 3.1 million tons announcement on injUn allow from the mills. The remainder

The economists are taking a Simidard hos climated that future and the market men insist model was priced clover to the ances, and it is clear to everyone of 800,000 tons geme from it cautious attitude a slow upturn prolits of the 123 industrial, the market was more nearly right | Britich.-U.F.L that the market tendency in inventories. If those 100,000 tons with unemployment high for a stocks in its industrial index may than the human prognosticators. Muny lines of business have reacht 2.95 Yor the year. dustrial equities is to rise.

showing improvement. The Financial Times Index of mantli came from the mills. long time,

Market men tre visualising a This is considered highly signi- been

loadings industrial ordinary shares rose

boust stoel production to about much speedler recovery. Thereal since the first quarter Steel and che 6.4 on the week to 178.8, the per cent of mill capacity, in- believe the U.S. lias passed the worked out at an annual rate of reached new highs for the year. highest since the beginning bt

stead of the 54 per cent prevail- bottom of the recession and is only 2.71.

The copper industry has been Į ing through the first quarter.

able to boost prices. Gasoline is DESPITE quarter of an hour'e lost October, before the

moving upward right now. Not will-

Since May, steel production all the economists held to this

in better demand and the laven- pounding from a hydraulic Street slump. Investors

walt for results Aro

The Standard & Poors projec-lory position is improving to the has been moving rapidly toward bellet. MERGENCY lighting for hummer amounting to 2,000 Ing to

blows in rapid succession- already Largain hunting amonit the 63 por cent level because of And now the market men got tion envisages a final quarter role point where the oll allowancement for the week ended June the Cinema Theatre in rubber springs ured on

the dustrial lenders.-U.P.L.

12, reads as follows: the buying to offset the

elincher from Standard & approximating that of the last may be raised in Texas. British Industries carrying trucks in South Africa

price increases,

Poors which it regards as the quarter of 1057.

Total goid holdings Sharp Gains Pavilion

Brassols were still "in u usable conidi- at the

authorlty ch

That Anal quarter worked out epenings calduta.

1011

other tions,

It was the low of the

|_ rebcles ni 3.23. Exhibition, is provided by tion".

There have been sharp koina sight balance abroad Recovery

year and the lowest for a quarter

Retail trade sa In EPU since tite third quarter of 1956 in construction, The equipment Incorporates thent Board reports that these

far this year has set a record Advance to Stabilian.

tion Fund

EATO Standard says the earnings re-when the figure, fell to 3.17.

Toil balls cuscounted 2,021,563,250,905 two batteries of 12 chloride en-lew eprings can cope with loads

But it is seen as highly sight- | high. closed bulls, having capacities af from 1,500 to 7,500 lb. per pair.

at 1957 Inventorycovery may well be more rapid

Many other lines are picking Bank holes in cir

pulation.

5.355,107,747,550 40 Ah at the 10-hour rate and The number of rubbers can be Italy are agreed on the necessity quarters

11 belleves operating rise from 2.71 for the first up and the Street is ploclik alb current accounts and capable of supplying secondary duplicated to take even larger to pool their aircraft Industries liquidation was above 1.8 million than many observers now sup-feant since it would represent a

deposits should

Tula works out ot 2 of its hope for the future on the for the production of atceraft this ski life mite Junged to 2.5 post,

rather quarter. ghung loads of 240-watt for londs.

under Heence, a West German million tons in the list quarterfeileney

cent of 19.per cent.

new automobile, modeln which spokesman of 1050.

forced to the Delenco Ministry The manufacturers are supply-

"Mangement Is

Wall Streel continues to re-appear earlier than usual this These new springa have

US. home building has shot Iny pieces of équipinent for edge on the metal coll springs såld today.

If those autos do sell as many The spokesman was comment out of the recession into a sharp tighten operations dil along the gard carning power as the malls year. elegency, Hghting at the Ex-previously used on mine cars.

report that recovery from is sharp. The Une, labour inefficiency is dis riterion for a stock market ad- a Iundan hibition in the specially built They cannot corrode and do not ing on

Strauss, the Dime Savings Bank of Brooklyn, kouraged by the present invel of vance even though the current think they will there will be big come at a time wifen business from the steel, com- 11, V Bub-station for the Bri-break or wear out. The ring- Herr Franz-Josef

panies up and down, including tiei Inistries Pavilion and for shaped rubber springs complete West German Defence Minister, a loader in the home mortgage unemployment, and many of the rise Has

we are now shaken down," Starklard The market, the Street insists, the railroads and new accelera- the fish Glovertament Pavillon, ly fadlate the axle box from the was to propose such a course in Deld, sald "as far as the build-how plants bullt in recent years canines were in a decline, talks with the French Defence Ing industry is concerned,

has been discounting a betterition of the recovery.-U.P.I. The says. [Chlorido Batteries Ltd, Swin- rest of the chassis except on a

are well on the upgrade." chiefs next month.-Neuler. fon, Manchester, England?,

chloride batterics.

3 hours in a 24-volí system.

orc-

The Natural Rubber Develop-

rebound.

Pool Air Industries

Bonn June 22,

July

*consume

Metal fnbricators fat-thirds of all stel. They began reducing their orders in the second quarter of 1957 and turtled to their inventories.

West Germany, France and During the third and fourth

sharply.

Projection

Paris, June 22.

The Bank of France state-

Franc 201,204,402,420

· 11,341307.5746

11,771,500,000

Agreed Merchant Rates.

UBA... Dollars, Mirtinan Bugig; 17 11/16 30 days, 1731 80 days,-17 13/10 30 days.

West German Deutschemarks Maximum Selling; 71%:

?