1958-07-07 — Page 9

SCIENCE AND

NGINEERING

USSR Most Advanced Country In Use Of Solar Energy

Mont Louis.

SCIENTISTS attending a conference here on the

uses of solar energy expressed belief that the Soviet Union is the most advanced country in terms of practical applications of energy from the

sun.

France, however, was regard- ed as the world leader in pure research in the etik

Scientists sakt they had been surprised by the extent of the

practical programine reported by

Professor Buum, of the Soylet Academy of Sciences. Buum des-

SKIM LATEX

↑ THE CHINA MAIL, MONDAY, JULY 7, 1958.

Weekly Report On American Economy HOW FAST WILL UPTURN BE? Strong Temptation To

RISE

STOCKS HONGKONG

Take Rosy View STOCK Of Imminent Recovery

New York, July 6.

With the start of the third quarter there is a strong temptation to take a rosy view of imminent recovery in the U.S. economy, There is little immediate substance for such a view, however,

gree that things from Bar on was still up in the air crepite than get. colleagues from

to his France, Britain, Japan, Ger- many and Yugóslavín, FIVE TYPES

ribed ve types cantalla

per hour.

per

which are much used 11 desert areas.

COMMENTING on the

EXCHANGE

Our Own Correspondent Business done on the Hong- kong Stock Exchange tilo morning mounted to ap proximately $387,000, Noon quotquions and the morning's Transactions were:

Hugere Bellers

APTEA

75%

SHIPPING

400

0.10 0.30

STEA

IN NY DESPITE

SETBACKS

Now York, July 6.

Stocks set a new high for 1958 in the general

average during the past week despite the Independence Day holiday, a new cigarette- cancer scure, and the usual seasonal lull in industry,

Speculative buying continued)

Other low or medhim priced to bring big aples lo low-issues included in the nettve priced Issues, Many high-grades Hirt WeTe American Motors,

q Investment demand.

Peabody Cual, and P:blicker Goins in the main list held fridustries to all ompunts for the most Chemicals. aircrafts, and part and the nel changes in the special isser moved – higher. 0.20 avenges also were small bu A total of 230 Ispues renched staninesnt since they pepoirala new 1950 highs while only the old highs.

Inine touchal new lows.

Rhates The temptation slema parily this week is 1,423,000 tons at sumer purchases in May were from the lact that the mid-year 52.7 per cent of capacity. FULLER USE FOR

three per cent lower to one per BANKS reports new begianing to tricklef Steel Magazino, a trade pub-cent higher than in June 1947. k.. 713 700 30 700moved up two points or more Standard Packaging, Aveo, in are generally so poor that licntion, estimated that the in- and although rainy weather was INSURANCES they sutomatically crcute the dustry's volume this year will blamed for this, Inal week's Union impression that what will follow ) run come five per cent below figures-with good weather e only be better. There is no the record 140 billon In 1957. prevalling-showed even worse; Waterboat

cent below to un-Wheelock now changed. Many people were Improve The Important the scheduled July automatiest paying out old "debts and at Dock

Bay bike. The portant point a lower rate than business was point is how fast and of whet

was whether a price boost at¦liquidating its laventories. A typical mil-year produc- this time would not hurt steel's

The Federal Reserve Board said the sharp decline in standing consumer credit which began late last year slowed up in May. It estimated total in- Amst stalment credit for May at $32,- 057,000,000-a decline of 100 mon from April.

alter Intex has been concentr Electric generators in useed for shipment. Although t of for five years fu, numerous contains thousands of tons Ardan

villages each of rubber a lot of it used to go which produced 600 watts literally "down the drain", unti of power.

prv.liters geared their rubber factories

reclaination Thermo-electric enerators methods.

The article describes system- ntle tests made this skim rubber to determine how it can

reflectors

·with two-metre

which can supply 40 watts with photo-electric cells, This relatively poor yleld be is being improved, Baum reported.

He said the Soviet Union has a large scale plan for using colar energy to fertilise the de- Asia,-France- serts of central Presse,

$11 new

used 11 industry. These tests have been carried out by Producers' the British Rubber

Association with the Research

tate.

chances of recovers. The poorest six-month record The construction Industry is

blics

soon

above a year

5

out-

goods

DOCKS, ETC. Provident

LAND, ETC.

1k Land UK Hotel

Humpliteys

Really RUBBER

Trust

UTILITIES Trai

ur Ferry.. Vaumati

+

12

22,10 22.20 1000

140033

33 #31

18 19.00

■

1,576

Industrials

Industrials closed at

480.17 up

Tobocros placed lower on the week with American and Loril- Hard off more than two points each. A Governmen omelal a new high from the U.S. Is stated since Sept. 13. Rails missed 1

In the Dow-Jones average, 4.75 points and

23.10

to

new high by a whisker "and

maito a report on Tuesday

In

that

155 1.575 4000 1.57 closed at 110.42 up 0.74; and London on the cigarette-cancer

mention of bubject and 021 a 100 the 65 stocks In these three thik set off selling in the group 0000 1.00 averages

closed at 105.09 up which some market 1.42 and a new high sinco

had waned may have 27 1125 20.90 Sept. 3, 1957.

The Standard and Poors In-over-bought 18 18:20 2500 18.10 dex for 500 stocks closed the 750 showed trains, 431 losse

the 1,385 lazer 23.20 2015 500 20.30 week on its high for the yea.

26.00

213

261

of

The

experts

been

traded.

performance

$1.20

2000 12840 At 49.47 1 was up 6.14 points and 100 held unchanged. 26.50 2000 1 26 10

weck's 300 20 60 from the year's low made in brought in mora bullish market 100 or 24.30 the first session of 1958. 2000 ( 20,60

The markot so far in 158 analyses although not a few 284 28 20 increased by nearly 25 bil- of the experts believe the 1st 300 à 20.00 on the value of all listed would have tough plodding from wock, here an it enters a huge over-

head supply of stock U.P.I.

issues. During the past 200 g 23.20 the valuation rose by about 3

billion.

609 ( 20.00

---

INDUSTRIALS Comment... .10 $ORES, ETC. Dalty

... 17.00 11.30 Craw... 10.70 MISCELLANEOUS

Entert

....10.20

.Bank Of France.

an

Statement

Paris, July 6.

state- plant peluding coal, icon gre, The Bank France scrap. The tax is pai agalement for the week ended June when finished steel is shipped 28, reads as follows: lo market,

auto

cars

The problem of using skim is complicated because it contains non-rubber constituents, world demand for rubber makes it sound economies Now that increasing are being exported probably as much as 10,000 luns per annum -the Rubber Research Institute

part

Dilly average volume of trad- ing for the four-day week was 2,606,581 shares against 2,066. 824 shares daily in the previous weck.

Lifted Volume

The wook's total Hfted · the valnine for 1058 10 dale to

Bank Of England 386,455,000 shares against 273,-

Statement

733,004 at this time lust year And 301,045,387. In the 1930 period.

Are

EFFECT OF RELAXATION

OF SQUEEZE

London, July 6.

increasing world de-wi mand for latex, due largely to the expansion Solar energy refrigerators, of the latex foam in- report comes from Detroit: which can produce up to dustry, H. C. Baker, in auto production since 1962. pleking up momentum. In May 350 kilograms of lee

writing in the journal of with it comes a word of caution alone, contracts awarded for day.

that applies to many other future construction rose to 3.402 the Natural Rubber De-sectors of the economy: What million-the highest for any Steam generators produc ing 60 kilograms of steamvelopment Board, says ever is left of the recession will month on record.

necessarily be compounded by

Construction that much fuller use can the seasonal summer business

xlarkness. One Government The Government reported Experts agreed that to push Solar cookers with reflecbe made of skim latex to omelat put it in

recovery on the way two things C, Light these words: that the dollar value

of con lors one metre in diameter, supply industry's needs. "The ecomany will mill around struction put in place in the must happen as far as the con- Electric

In the summer." In Detroit par-rst six months of 1058 rose A Sumer is concerned: 1. He must Macas E Skim Is the Hould left over

Telephone .. his buying from icularly production

ago to chango will get million

However,

consumer the capital to lewer still before it spurts up in 522,080,000,000.

He the autumn dith

1050 physical volume of contruction brought on the recession: 2. the models, Some Detroit asscm- work decline, Higher costs

of must change his psychology to General material and hour especially

accounted u point where he will be willing to spend some of his savings or Motors Buick and Pontlucare for the rise in dollar volume.

buy new cars, On Monday President Elsen- go into debt to already closing down and others will follow

as retooling awer signed into a low a tax refrigerators, etc. Experts think bill repealing the three-per cear | such change could be effected takes place

federal excise tax on freight swiftly if the consumer is given | waton 11.30 Encouraging Transportation. It was the unity a push at the right moment.

the U.P.I. Yet, viewed month by month tax repeal to emerge frum rather than as an overall fest recesalon su fur and likely to half, there were encouraging remain so. Trude sources exs. signs that pinpointed the lowest pected the, repeal would provide The Soviet scientist said that help of the Rubber Research austries somewhere in

Immediate bottom of the recession for most un

and powerful some of the solar installations, Institue of Malaya.

April. stimulus to the economy, Take The Orsi small increases in In-Just one product-steel-~~~~us especially those in desert areas. are already economically com | COMPLICATED

dustrial production, personut in example, A steel firm must pay petitive with installations using

come retail sales, housing starts the three per cent 10x on ship-

ments of raw cond or other fuels.

materials to its and total employment were re- bat Ristered in May and indications

Penn-Texas led in volune and were that these gains were at

receded point, Nex! came London, July 6. least being maintained in June.

The Bank of England state- points on a

Unlon Olt of Califonia of 3% The Federal Reserve Index to customers, such as the

Frane Total gold holdings.. 201,201 502,423 ment for the week ended July 2 Alaska Juncau of industrial production which companies, and again on

11.098,288,120 reads as follows takes the years 1947-49 for its shipped to deniers. The tax re- Bighi balance shread

11,771,000,000 base of 100 showed production peal should belp the slekly rail- declined from a peak of 140 te rond un well as the healthier redaksi; an active

dos Asegunted 1,093,011,318,905 Private deposits telling manufacturers exactly 128 in April. The index pleked carrier truck lines.

Total bills Even before the tax up one point in May, significant-

repeal Banknotes in circule- this type of rubber can

(lon sub- really motor carriers reported a

.............. 3,200.649,221,730 ly from two lines that particular and cannot do. In

Current accounts andĺ they have publicised ways

matter of

and which had been stantial upturn In traffic

deposits hardest hit: steel and cars. identifying skim by density and

In especially in the south, south- Jung steel operations averaged west and for west where to- NEW types of laminated

some 20 per cent above May and nage averages were up from plastic charts and maps ban on using skim in the pre-

of certain high grade smaller gains were recorded in May and June 1857. However, should be available soon for rubbers,

petroleum, paperboard, coal and mid-west carriers of cars from commercial use. The come Manufacturers may well pre-

lumber industries.

Detroli and soft goods haulers process should be usablo for fer to use skim rubber for some

The Detroit mid-year report in the east still reported volumic multi-coloured paper prints,

when its advantages showed America's big threa carat ien to 15 per cent below lost processes ale belter known, and it is calibration charts for in-

producers were running more year. already widely used far pro-

than 1.1

Manufacturers million units behind dustry and other industrial ducts requiring a clean, "low 1057. Volume for the whole 25.1 billion in May, up 200 mil- printing applications. priced rubber. Not only is it 1058 model year is now expect- Hon from April. Durable goods relatively clean compared with ed to be some 30 per cent be-accounted for the increase with other off-grade rubbers but it is low last year, on an estimated non-durables unchanged, the likely to be

total of 4,300,000 units. Total Commerce Department report- when made into compounds, and car production of all U.S. car ed. But Inventories continued in soling compounds based on manufacturers in the first half decline Stocks of durable reinforcing realns the increased of this

was 2.001,303 goods were down 400 million in hardness obtained when skim against 3,055,202 In 1957.

May, non-durables down 100 rubbor replaces a regular grade

At Thursday' close the list The New York and New observance of Independence Day bank rate. There are those who On the other hand even in mition, of aatural rubber allows a re- the general picture of misery Hot weather Bnally appeared ruled 10, to 20 points-50 cents Oricang cotton exchanges ad duction to be made in the pro-

the journed trading until Monday there were lucky manufacturers this week, raising hopes for in- to $1 a balo-lower than portion of high-cost resin.

for the weekend moming who capitalised on the smallercased sales of air conditioning preceding week. size of their ears. American equipment and outdoor furni Motors, makers of the Nash ture. The vacation season Rambler, ran nearly 40 per contrived, too, and should put money into the hotel, transporta- ahead of their 1957 pace, They built 92,812 units in the first in, food and entertainment half of 1858 against 55,537 in business.. the first half of 1957. This was a New Claims definite Indication of the in-

claims for jobless pay easing popularity of small or

accounted increased last week but smaller cbra which

LAMINATED PLASTIC

CHARTS AND MAPS

The process was originally developed for use by the British Royal Air Force. It is claimed that an pecuracy of 0.005 inch can be obtained by its use.

The actual graph-in the case of the plastic printed mapeis printed on both sides of a clear white sheet of plastic material. This printed sheet is backed with another sheet of almllar plastic material, bonded to it by

what

quantities

3n

bun tests and supported the

duction

economical more

means of a specially developed Glass Fishing Rods

adhesive.

This adhesive bonds the play- Will Not Corrode

tie sheels together, but does not

cause the printing to bleed,

run.

The bonding process

TORCH BATTERIES

Or

LASS fishing rods made carried out in a steam-heated by a Scottish firm, -multi-dayUght platen presS.

who pioneered their manu- facture In Britain, are to be used or a Brussels, angling competition. The competi- tion is in long and accurate 'casting" of angling lines and the use of the glass NEW transistor pocket radio, rods ansures complete fair- measuring only 4% Ins xness of opportunity for all 3ins x 1% iris and made by

POWER RADIO

» U.K. Arm is now gyullable fur export.

It weighs only 14 ounces, and is operated by four small torch batteries, t

SORTS MESSAGES

your

New..

sales rose

to

ar-

con-

for an unexpected record seven tinued claims dropped again. A twelve key industrial per cent allee that European survey manufacturers carved out for states showed initial claims rese themselves so far this year from to 257,857-nearly 41,000 the U.S. automobile market.

than in the previous week. The climb was mostly seasonal, Con- tinued claims, on the down.

Changeover

more

Total other currencies

EPU.....**** Advince to Stabljika-

zerp

Notes in cirqulation Public depart

Government securities

Other kreurtles Receipts

492,989,771,097 | nāilo

cut in dividend. The big news this past week Gold Mining has been the relaxation

Co., which no longer mines by the government of its Starling gold, turned very active when 2,041,009,120 Aladen

0331,004

200,181,727 ctate

213,029,500

WEI admiticd 33 1

The lost ranged between A 50,710,102 low of 3% and a high of B, and

credit squeeze on

the

economy after three

ycars.

Everybody in the City of Lon-

55,137,000 closed the week at $4%, up 1% don has greatly welcomed the -U. P. I. points in third place in volume.change in the official credit

American Cotton Prices

Drift Irregularly Lower

New York, July 6.

{'policy, but the main talking point now is whether the new policy will cause a rise in production arid trade or whether it will merely cushion a declino,

The reaction of the stock market indicated clearly that in- vestors believed the lifting of the credit squeeze by the Chancellor of the Exchequer was as much an expression of the BOVCFTS- ment's faith in the underlying strength of the economy na o warning about the immediate

the lirung of

credit nqueeze has also revived specula- tion on a further drop in the

Cotton prices drifted irregularly lower in an extremely quiet outlook.

and holiday-shortened week of four sessions.

SWITZERLAND LEADS THE WORLD IN MONEY

CIRCULATION PER HEAD

national holiday.

Wis

Crop and weather nows ingstly favourable throughout the period, although one privato Mamphis survey said a period of clear hot weather

now la neaded over the entire belt.

The

مطا

| believe that the recent behaviour

of sterling suggests that authorities can safely take more positive measures to stimulate industrial expansion.

GOLD RESERVES Gold and dollar reserves had gained US$800,000,000 in the first

Crop technicians said the x months of this year and period of Mid-June to mid-sterling has begun carller than Those hoping for a cut July usually is a rather critical usual. period for cotton, High tempera- in bank rate say that 44 per tures, accompanied by ilmited cent would be the natural corol- rainfall, proved a high degree try to the lifting of the credit of natural insect control ond squeeze, enoples growers to

The more cautious, however, poison

the effectively. The plant also argue that it is beiler for able to develop on a long top government to wait and see the effects of the seasonal pressure on sterling. root.

Evening-up operations in

New York, July 6, The pace of car production grade for several weeks, drop- Switzerland leads the nations of the world in

Glit-edgeda have been. 11 was being stepped up before the ped last week to 1,888,303, down money in circulation per capita, monetary the maturing July delivery co excellent market all week. They summer changeover for 1959. 01,433 from the previous week. Last week's total was 109,150-—— The overall view was that the

authority Franz Pick reported today.

featured the trado, Delivery rose to a climax shortly before more than 7,000 uplts higher † excesips, which caused the

notices were promptly absorbed Friday's squeeze, which seemed For every Swiss, then is i Switzerland 280,11.

slem 10 Belgium by Memphis all interests, im- to than in the previous week. But cession have been successfully 288.11 in Swiss currency, 110 240.30.

re-expand The Brin manufacturing the the June tolal itself was only eliminated in the first six

United States 184.20, parting a relatively firm tone to economy, Then the next step was Bolytuni follows rods occupy o factory on an in-337,355, down lightly from May months and that a base has been said.

Open move towards cheaper money, clospty France, 164.05, Sweden 182.00, that section of the kist,

130.52 and Canada July contracts at the week end meaning a cut in bank rate, dustrial estate and there they and the lowest June figure since laid for a recovery. The Me-with 240.30. Hongkong in 48.10, Norway produce, In addition to the glass 1948,

121,51. Graw-Hill publishing Company

approximated 10,000 bales, With the exception of the

comers.

ble.

20-

RESTRAINING

Expected

the

This received mucir encourage- |ment when on Friday afternoon rods, a wide range of sporting New car sales were encourag announced the results of a poll United Stales, Canada and Netherland Antilles 115.00,

the Treasury bill tender rato fell I! includes four transistors, equipment which is exported to ing: For the second ten days of of purchasing agents through Great Britain whore highly New Zealand 100.00. United

much further than was expected, and I finished in ́s two-colour | many countries in different June they averaged 14,050 units out the country. The majority developed banking systems Kingdom 9944, Australia 97.82

to just under' 43⁄4, moking tho polystyrene CASC with satin parts of the world.

daily--6 per cent above the said the industry is "pulling out reduce the importance of actual Netherlands 06.12, Austria Gold fluments, and a fold-fat } The advantages

While holiday Influences were gap between bank rate and bill claimed for | Arst ten days. This was still, of the Inventory reduction stage cash in daily business trans 185.53, West Germany 79.11, restraining, market participation rate over 4 per cent. Old Con- handle, or Aboulder Bling glass rods are their resistanco however, more than 27 per cent and taking on a let's be ready actions-money, in circulation Denmark 76.82, Ireland 96.74, also [Channel Electronic Industries against corrosion, rusting, warp- below the 1957 June pace. It is for business look." Only 28 per por capita "representa a rather Lebanon

was handicapped assols were up on the week. 78.70, Iceland 05.01, traders awaited Smate action on War Lopa 11⁄2, Daltous Ltd., Somerset, England.) ing or general deterioration due naw estimated that now car in-cent of those questioned were

the Italy 02.77, 1ael 70.74, Por the farm bill, lo expostTO

after and 3 per cent Transports 11/10. bad warther. ventories on hand were about still reducing inventories, the reliable measurement of

relative degress of a nation's tugal 49.00, Malaya 40.70 and the holidays, and the "Governi The foreign-bond market had They retain their straightness 700,000 unis. A the current poll showed.

Hongkong 48.16, but are at the same time next- | calo of sales theso should be Some large business houses, economic status" Pick said.

ment's first crop report of the a good week, with a sizable de Spain 1720. season, to disposed of in roughly seven however, silil boligved that con

Finland 26.77.

be published on mand developing from the Can- CLASSIFICATION

Syria 34.00, Greece 20.28. Iraq Tuesday.

tinent for dermants with gains FILAMENTS

weeks, With few new 1958 trary to the trends a' lowering

Ho classed as "wealthy" 20.76 Jordan 23.46. Union o

ranging on various daya from NEW British electroplę ean- They are made from glass models expected to be added to of prices as well as reduction of 4munication system, has been flaments which are built” 1-

The report will show the to one point.-U.B.I. this, the decks may well be inventories might be a more those nations whose per capita Bouth Africa 24.00, USSI 24.1 ingialled at the recently opened gether until thero are in cleared by the time the first potení medležne.

estimated scrore in cultivation mongyin circulation exceeded and Japan 23.35.***

Saudi Arabia 10.38,

· Gatwick Alrport.

East on July 1. Trado opinion mug; BTRAD, the single foot length of rod, one

Sears Roebuck's new autumn 100, From 00-92 was "medium 1850 cars begin to leave the a

"Industrially Germany 19.37, Egypt 14.48. gestos the figure may be around naw system, has been designed quarter of an inch in diameter.sembly lines in mid-September,afelogue lists prices 1.5 per cont wealthy." 20-19

thoes Thailaná 14.03, Libya 12.64 19,280,000 to 12,295,000 acres as to make a decis to handle telementy, Aty-three miles of last week, following an eight- and 0.5 per cent below last will lose than 20 were "poor." Philippines 10.50 and Turkey compared with 11,000,000 acres

Stop production slipped off below the spring-summur book underdeveloped." the taken Binments.

National currencies in circula-9.79.

in cultivation a year ago, graph messagos. · STRAD TE- The glass fishing rods, the week rise, and again this work autumn This is despite in-

Caylan 8,90, Vietnam' 8,50. cords them, sorts them into pro- dartsboards, airguns and roller because of the July 4 holiday, creased material and wage coste. tion at the end of 1987, wore

If abandonment this year is A, debet, (per $3) per priorities end directs them skates maile at Carin are sent Milia worn operating ot013 Says Sears Rootucki Wo think translated into dollars on the Lace 8.00, India 710, Irani 0.00,

rate Cambodia' -5.01, Fakistan 8.50, about average, the harvested averting note (per 21). to "the correct recipients out to countries overseas, not- per cent of capacity fob a total it will buy un busines" busts of the free market

Taiwan. 0.1, · Indonesia 2.00, sureago my ho; the smallest in | Australasi notae (per: £1) [Standard Telephones

prices of thebo currencies: to and ably

the United States. Quiput of 1,800,000 last-wook, Huf more than lower

·Picks Hat - of, aountries in-Burma 3,08 and Koras 5.11 52 youre--eince 1016-wion EL | Indonequr juplati (per 100) Cables Limited,

Connaught Millard Brothers Ltd, Caron, down 85,000 tong from the pres by one company may be needed

U.P.I.

tood at 11,747,000.-ĀRS Lanarkshire]

éldtog Prink. Wiù ellimate dog to spur consuman Inying, Cón- cluded:

Binpaparë (Steketa) In Lotio

end

Exchange Rates

Bueltzone", veną 'done in the legal Ivanofficial, exchange * market Inserting at the following kulaumi