1958-07-28 — Page 9

THE CHINA MAIL,

MONDAY, JULY 28, 1058.

Page

SCIENCE AND

Weekly Survey Of American Economy

ENGINEERING Expectations Unfulfilled

UK'S FIRST MANNED SPACESHIP

IN THE MAKING

London.

WORK towards building Britain's first manned

spaceship-it resembles a flying saucer-bas started in the industrial midlands at the Coventry aircraft factory of Armstrong Whitworth.

of about a dozen A band scientists onder Dr William F.

Ililton, the chief terodynamle HANDLING COAL

expert, are devoling their spart time to experiments n tem- 'perates of

30,000

Centigrade to beat the

dees WITHOUT DUST

return-i

ing spaceman's deadled energy, the called

"hot basrie

which burn up even hooting stars.

OFF-MOMENTS

A

·

Post-Recession Recovery

Failed To

To Materialise

e

Effect Of Mid-East Crisis

vessels,

ΣΤΟΙ

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Baytys Sellers

Boles

BANKS

TK Bank XD

763

770

116

20 203

70

·

0.02 0.20

New York, July 27. Expectations that the Middle East crisis might be a short cut to full post-recession recovery failed to materialise

Business done on the Hong- kong Stock this week: its effect remained very limited so far.

This Exchange morning amounted to approxi- Stocks benefited most. They opinion underwent surne cor for Economic Development, mately $201,000, Noon quota- private body, in a statement Tons and the morning's trans- were on the up-and-up for rectlan, but not much. almost ten days running. The

awar care did not proposing the following mea-actions were: True, was materialise. Norman Strunk, rures: (1) Increase of na- ships chartering market

Bharos Moa- (2) lifted somewhat

the tional productivity, out its executive Vice-President

of

Sen US. Saying and Loan League, sures to keep demand from doldrums as the Miltary Transport Service chartered discounted fears of a seare buy tisng foster that production, (3) some cornercial

puting spree such as greeted the Steps to keep prices and labour East Aala ..

rising In oiher INSURANCES of the Korean war costa rescive fleet tankers to outbreak use as troop transports and or-eight years ago, unless of course words some sort of Government Union

But others reactivated from loofing starts."

even contral. dened

SHIFTING before the Iraqi coup there was

"The Government's objective Wheelock mothballs

The Government set up blue-solid reason for fears that more should be to use its lax, ex- prints for immediate activation ination was on the way. Gov-

penditure,

4215 4216 monetary and debt Dock ETC. Several Swiss concerns have

11.00 1150 official aiready then management policies, In ernmen! of its two-year-old "Suez crisis"

com-Provident previously manufactured nyc-

for pll were busy dusting off economic bbiation, to keep the long-term LAND, ETC. emergency machinery ities for the

purpose of pre-shipments to Europe. But poli- plans to combat inflation and growth of demand equal to but IK Hotel: 2180 21:00 venting coal froin

tieaf experts who

activity wock their

Increased con- not exceeding the growth of the 11K Land.. dust, but these machines

predleled that the

with the Iraqi coup, siderably

possibility country's capacity to produce." Humphreys 15.20 10.60 Middle no matter how violent, would that the too small an output and possess-

East might

While everybody has long Really XAN 1.375 130 Not be permitted to interfere bring on a near-war economy.

strong since parted with any hopes of RULBER with the flow of Middle Eastern There were enough

tax cuts on a

Amaly. general level, a non-war cil were proved right; the Iraq

developments,

last Trust,

A. Tawah.. Petroleum Company reported ever, to make the Government Congressional committeo

week passed the second selec- Sungala... crusaders tako continued normal operations of anti-inflation

tive

seven. tax relief bilin both is holda and pipelines.

their chores seriously.

SPECIAL process makes it possible to do away with all discharge of dust when handling coke or cool. while During off-admeat: budini 12 Argosy freight air-it has beon devised by a

firm, H. £12.000,00 Swiss

Koch sterling De Hilton is trying to G.m.b.H., of Zurich, build a manned spaceship pro- feet which can be offered to, de Lloverament Buitish practica proposition,

liners

De Hilon sold: "What we we he ping to do is to build a vehicle

discharging

in which men can not only passed some other disadvantages. through the alimtephere but also ene burk through it again,

"We have 2007 befor other circular."

hod

the The firm commissioned Muschinenfabrik

Louis von Giroud of Olch to build a mac- Line with a large output, ce- to its specific Instrvc- cording 40 tions. This machine, which does

iwo designs us, one triangulve, the

How long? Thirly to But we are building feet, thing yet. That will have flone by the Government. are niready speilog our money on the designs... NO OBJECT

to do is to The first thing get a satisfactory entry into a satellite orbind come back. That would be a great achievement."

und

ات

no-not require ang manual opera- ! to betion, is filled with coal by means The coal is then We for a crane. wafted of all the waste and dust it contains. It passed into an

where a tid apparatus

dourless oil ngglomerates those particles which sight Gresk off and form dust. Alter coal is put this treatment the into sacks, by mechanical means, although it can nigo be trans- Asked if men could be lande parted and sold in bulk. ed on a planet, Dr Hilton re-

been plied: "I think we have a ve7 | Luht. The cost of

the bigger good

บ chance, Distaner is

nuichine, which can screen, de object once you get up there, dust and weigh about 25 tutis It is, of course, a long way in tour, amounts to about Swiss Mar200 days or that sort Fus. 15,000 (£1.239). The small- of der of time."

er machine, which is built on an

Two machines

have

Questioned about the chances mobile chassis and is mov of setting back to Parth, Drable, has a capacity of about, 12 Hilion answered; 'Somcote may ms on hour and costs about have to snerting themselves."- Frs. 23.000 (£1,900). For the China Mall Special,

big machine, four to six en are needed; for the smaller one, two men.

APPARATUS FOR MEASURING DUST

A

Television Solves Icing Problems

TELEVISION

camera

A installed in an engine

PPARATUS for measur

ing dust and fumes carried in flue gas has been developed by a British firm.

The apparatus originally for cowling to investigate icing measuring iron-oxide fumen problems, and its ancillary emitted with hot waste gas from equipment, was shown various steelmaking processes, can also be used to measure fine the Instruments, Electronics or coarse dust omitted from and Automation Exhibition crushing, grinding, sieving or at Olympia recently. other procenses, and from sinter The industrial television

plants.

at

camera was put in the port

Wan

A atainless steel probe carry-chgine Ravelle and it ing a sharp-edged nozzle faces possible to view the engine on a directly into the stream of dusty 14 Inch mocitor screen in the gas, allowing a sample to enter Lody of the plane while the air- at the same velocity as the loen craft was in the air and e- undisturbed

This celerating between heights of as stream. ensures that the dust content of 10,000 and 30,000 --some- the sample secuately represents times ui temperatures as low as that of the main gas stream. 45 degrees C. GAS SAMPLE

WHOLE TEST

the tests were

Thic whole of Anished in 20 flying hours white with eine equipment they would Lave taken at least 200 hours.

The gas sample is then drawn through a filter and cooled below air temperature to prevent condensation of the corrosive liquids in the process. Two gas- This is one of the many appli- tight vane pumps then expel the cations of closed circuit televi Altered and cooled gas cumple aion on view ranging from steel through an integrating ges meter production to upera ta monitor and a gas flow-rate indicator. screen to enable an off-stage The new apparatus, say the chorus to take their cues from manufacturers,

been the asical bag

director out front desimed to collect a weightable is ured at Covent Garden and in sample of dust and fume in a the Vienna State Opera House), phort period often less than five and from surgery to traille con- minutes and to be ready to take rol.

another within a minute. Long- Among the exhibits were also Worth Scienude instrument Co.jan ultrasonic cleaning Ltd., Abingdon, "Berkshire.

NEW SWEDISH

SPACE SUIT

Буб-

tem, stroboscope that flashes on and off 10,000 1mes a second and is used in valve cssemblies which are breaking down under vibrations and the controls of a nuclear power station.

ASWEDISH "SPACE SUI JET ENGINES TO

for Air Force pilots operat FIGHT FIRES NOW

In at

37.000 ft. hur been developed by

aititudes in excess of

the Swedish Air Force ResearchXPERIMENTS in the uso Centre at Linkoping.

aid

of fot ongines to Intended for emergency fire fighting are being carried Bleuations-in surized cabin should be damaged out at the Fire Research have to Station, in Elstroo, Hertford-

case the. pres-

or the plot should

ball out the new suit may be shire, England.

characterised as a combination The object of the experiments

of a conventional G-suit and a is to find the best way of coun- Jorkin.

Just

Doubtful

True, U.S. all production went up during the past week but was doubtful whether this had anying to do with the Middle

how-

300 11.00

300 a 21.00 500 g 21.00 64214

1.55 1.375

1.60 165-30,000 ca 1,055

1.00

Stocks Soar In

Very Active Trading In NY

BY ELMER WALZER

New York, July 27. Stocks soared in all sections during the past week in the most active trading since the week ended October 25, 1957, with the Dow Jones industrial average crossing the 500 level for the first time since August 5.

Lay after day new features Du Pont netted 8% points on cane forward to keep the rise the week. going at top speed-a daily average of 3,716,205 shares,

On Monday the steels ran up

Business

news was

food in ali- quarters sod there was talk

to new highs with the fedus- that the Middle East situation frlajs soaring 6.31 points in might spur a real boom, if it their average.

On Tuesday the continued to keep U.S. troops Also there chemicals had a spurt and quartered there, Allegheny Corp issues put on was the threat of more inflation sora: Breworks when the Com- with deficits mounting is the

Treasury. pany voted to clear arrears on two preferred issues.

Rumours.

At the close of the week, tho Dow Jones Industrial average stood at 501.70 up 15.21 points On Wednesday cancer cure on the week and a new" high rumours sent American Cyanu- nce August 2; tails 180.84 up since and a new high midying up.

The rumoury 5.53 were denied but the stock netted September 10; utilities 79.84 up more than

CA 0.98; sod 45 stocks 173.30 up two points

a new high weeks. On the same day Addres-4.84 points and

since Augusts 1. daya. IL approved a bill that UTILITIES

20.30 26 1,300 26.30 sograph-Mulligraph spurled co The Council of Economic would give income tax relief to

1.2006.30 a 3-for-1 split and a rise in *

The Most Advisera reported Jotal

112 government employees, railroad Star Ferry

dividends. It vetted 18% points output of goods and services workers and self-employed per-imali

Light...

on the week. rose in the sevend quarter for cons covered by the Social

pro-

Trara

+

鸿

11 17.00 2,500 17.00 01017.60

East. The American Petroleum duct for the three months ended / mproved a bill permitting self- { Telephone. 23.80 23.00 2,000 25. tire and ran up to No 1-trading ending October 22, 1037.

sume

3

Dalry

100

25.20

Sales for the week totalled American Motors got kito 18,581,325 shares, most since Bellon on Thursday near closing the 20,804,109 for the week In position. The Company report that

the Week,

Industrial average tel its 1067 low and 30022,60 ed good earnings," 2212

On Friday the liquors were the markel on October 23 saw leaders for a time ca a Senate that averago spurt 17.34 points, Finance Committee

plan to widest gain since November 14, 2004 13.00 extent the bonding period for 1020, on fund buying following

whitky from eight to 20 years, the drop to a new low.

1720 17 1050 16.50 14.90

COTTONS Texulu INVESTMENTS

Aled

HU

the first gain since last Septem-Security programme. Earlier, it Ekelele ... 2750 3715 ber. The gross national

employed persons to defer in- Institute reported crude nins to June 30 was reported at $425,come taxes on up to $2,300 INDUSTRIALS

Comment.... stills last week at 6,528,385 bar-1000 million. This compared year in income, rels daily up almost 90,000 with $445,000 million in the

These typical anti-recession STONES, ETC. barrels dally from the preced-peak third quarter of 1857.

measures showed the thig of

WALION ing week and compared with

The

consumer price in- Congressional sellon behind ac- Crew. * 6,047,215 barrels, daily in the

dexwag-still going up tual economic developments week of 1957. However,

the Government Amid new fears of inflation renerica acluntly dropped out although

was practically these bills may never get out of pul as against the previous week stressed that 11 and worked at only B1 per cent at a standstill and about as the Committee stage.-U.P.I.

close to having zeto change as of capacity.

we ever do and still have The plight of the US. oil Industry, one of The worst hit change". It stood at 123.7 per cent of the 1047-49 averago — by the recession, was reflected

up one-tenth of one per cent In earning reports for the Arst

from May and 2.0 per six months of 1958. Gulf

from June 1957. carnings Corp. figures showed. of $115 million through June 30 (or $3.72

compared 4 share) with $201 million for the first half of 1987 (or $8.48 a share), At the outbreaks of the new

Oil Output

Middle Eastern crisis expert gazine reported opinion said it could affect U.S. conomy in only three possible ways in the year ahead: renew ¦ed inflation resulting from

buying spree, government con- weck this trols or both. This

2

ocat

Oll output was up, was steel. Iron Age ma- metal-working companies with low steel in- ventories were taking a hard second look at their stocks and zvie love already moved quietly to bolster their market position. Some of this alarm is East attributed to the Middle and expectations of increased Government defenco spending, Orders for machine tools turned up in June, end- two-month decline. In ing A coming business

still 45 was per cent behind last year's pure but still reflected businesa optimism. Machine tools are oflen the first to mirror an im- ment for the week ended July provement in business in gen- cral. It takes nine months or Sterling 2,103,5874 (more to turn out complex ma- 12.205,041 chine tools. Thus the trend 2428170 in tool orders is considered the 224,720.560

31.104.630 best tip-off to future swings in 47,020.247 the economy,

14.3

Bank Of England Statement

London, July 27, The Bank of Englund state

23 reads as follows:

Nates in elretation Pubile deposits

Private depOTTE Government securities. Other sectirities Iteccipls Kalo

V. P. I

Bank Of France Statement

11.058 211,206

Karo

493,177,055.035

Valuation of all stocks! listed on the New York Exchange is nearing the record high eet on July 31, 1057, nt

$225,000 million. Trading thus far this year had brought out a rate of $30,000 million for the year which would be one of the highest in years except for 1955 when the value of all trading exceeded $32,700 million. In- flationary operations of the Treasury in a sale of bonds to

Exchange Rates

money rates

Farm

4.574%

Then Du Pont look over and brought the whole market up with the close around the highs,

Bill Prospects Bill

Lift Cotton Futures

By WILLIAM T. PLUNKETT

New York, July 27.

Values in cotton futures broke sharply late this week as trader sentiment switched from gloom to glee over prospects for passage of a virtually unamended farm bill.

On Friday the list closed 20 | mainly commission houses and ƒ bill that would perralt lower te 123 points below a week New Orleans brokers, carllercquivalent to tosses of Indications at the end of the from $1.30 to $6.15

a bale, weck were that the House and Forces behind the sell-off were|Senate had agreed on a farm

SLOWDOWN IN

U.S. COTTON

GOODS MARKET

New York, July 27.

longs and increased acreage, despite an angry statement by Scotor Hubert Humphrey (Democrat, Minnesota) that the Agriculture Department WOE using legal lobbying tactics in connection with the bill,

LIMIT DEBATE

Late in the day Senators agreed to Umi! debate on the measure.

Tension produced two weeks age by the new explosion in the Middle East eased noticeably this week and contribuit to lower prices.

Hot and humid weather with some thunder showers -- just

what the doctor ordered But reports from spots in the East said mins were too heavy,

eloaked most of the cotton bell.

Cotton grey goods markets here were not quite as active as in the previous week when more than 50 million yards of print cloths and substantial quantities of other staple fabrics ring insect activity

rank growth,

were sold.

ore con-

:

One

·

and

Sales fo far in 1958 total That total 351,002,710 shares. compared with 301,070,024 at this time in 1957, 386.285,852 in 1950 and 309,470,000 in 1855.

Wide gains on the week in ndillion is those mentioned. In- cluded Allegheny Corp, 6 per cont Preferred, on which a divided of $149 was déclared,

Allied up

Chemical 50%; Union Corbido and Stauffer Chemical, up seven or more; Lof Glass, Minneapolis Honey- well and Youngstown Shoot up six or more; and Louisville and Nasville and McIntyre - Por cupine up Avo or better. U.P.I.

Chrysler Has Very Bad

Half Year

New York, July 27. Chrysler Corp made the worst showing of the country's three top auto producers during the first half of the Year, the Company's report showed today,

A second quarter loss of $10,100,000 on top of a loss of $15,100,000 in the first quarter left the country's think berest red for the Arst atx months. a company $25,200,000 in the

Ford Motor Company, suffered a net loss of $17,300,000 In the second quarter, but a pet profit in the first quarter left Company in the black $5,400,000 or 10 cents a share for the first half

RECESSION

the for

General Motors Chép bas 'not

local refunding billions in bonds and ] the bulk of last week's business nods markets, Rayan ningeure Benson was pushing for lg come out with its Arst half re-

now

Bots conferees

Paris, July 27.

USDA

that the The Bank of France statement

reported for the week ending July 17

Government has passed Dalt reads as follows:

The slowdown in buying prices showed a strengthening more than $1,000 millon in the Francs banks to raise new money are was due in large. meusure to renderry. Colion yarns were past 2 years for its cotton Total gold holdings.. 201204,304,626 beginning to meet sharp cri- price advances which buyers more active and prices un some export programme under which Total other crencies

licism Those who feel Eight balance. abroad

that

were reluctant to pay.

In counts were marked-up two to roughly $1,000 million worth of KU

11,371,000,000 Inflation can be hedged in the quiries, however, were numerous three cents & pourd.

cotton was shipped overseas Advance to Sk

Stabiliza

stock market are expected to and it was obvious that

I also predicted, demand for con- prices on some counts were tion Fund

right on buying stock siderable busintas still over-marked-up two to threU

cents U.S. cotton experis would be Total bills discounted 2,003306,346,975 keep Banknotes in circular

with the resul

considerably lower in the 1938 that the shangs the market and will be a pound. tion ******** 2,300.176.632.075 might rise and rise.

buyers | placed onCo

of the most striking 60 sensor. Current accounts, and

The House approved n deposits

structure developments of the week was

SC vinced that the price **** Anti-Inflation Moves will remain strong.

the advance in flament yarn year extension of USDA's pro Already

PRINT CLOTHS prices which were marked up by grammo for selling form sur- is talk ot 'There

firming again to Sumo print clotlis were sold a leading producer two cents plus overseas for foreign cur- Aght inflation. If they did, the at prices cent to cent ato five cents a pound. The rise, reneles. The authority for this Treasury would have dificulty yard above the levels at which was not unexpected and was action had expired three weeks reflected in synthetle. Krey earlier and Secretary of Agricul- Business was dotte in the

to bulls yet, but the Company 18 exchange market unofficial

this notes

was booked. Some mills raised

renewal. It

for expected to fare better than the Scrate-House morning at the following rates:

Volces calling for early anti-sheetings to three cents a pound were advanced to 4, cent o BEZ 1.3. dollar (per #39 IKKA

other two. 16.00 inflation policica aro being after selling quantities for de- pound.

Tixning out details. Sterling notes (per £11...

1261 heard

sudden A more frequently and livery over the rest of the year.

wave of buying,

Both MEXICAN FEARS

Chrysler and Ford Australla notes per 1 indonesian rupiah (per 100)

louder every time. The latest Demand for finished goods was touched off by the turmoil in the

altempt to allay blamed their pour first "hálf In glom deat (per 1001....

20.30

In some time and Middle East, pushed up alsal Mexican fears, USDA announced showing on the general busi- To call came from the Committee better than Bingapore (Etroits)

hurd Bbre prices to cent a

no intention of raising❘nces

and the con- de- pound. Substantial orders were it had written for delivery over the the subsidy on expert cation at sequent lompact on auto

it's uma rest of the year The con Tho Mexican Government, Kinent" bought "quantities from which announces ourlier that it The auto companies gæpect African sources while American would nahers the withholding the introduction of 1968 care in

concentrated on

the world the autumn to spur demand, but of its collon from ter was £180,000,000 Lower buying was Measured in real tering

than in the first quarter offerings from Brazil and Halt market to strain a fairer price, industry mates for the hill year is, at constant prices

Matila hemp continued strong was afraid a UB. subsidy in 1938 are not expected to run 1957. sumers expenditure was 355

and scarce. Isolated offerings

eroas might undercut its pro- niuch above 1,099,900 unia. oen tilster and

up by

izrammo

Bad further deprem

Despite the poor Apt 'halt fixed Investment three per Incores of companies and publio were quickly snapped

prices. corporations wore E242,056 [buyers at prices. above listed year och blaher than

On the foreign scene, Egypt results "Chrysler directors held add or Ave per cent higher in quotations. -castler

the first quarter of this year Carpet wool was active and alt it would increase acreage the dividend on commoth stock than in the comparable period prices on grades supplied most-this year by about 100,000 at 20 cents & share!" "It' ́le pay- India reported; able on September 13 to heldurs of "1057, Incomio from wagues ly by the Middle East were up teidan" and

a pound sheaply-roduced cloths produtos of record at Alkyl #16: Tho Med salarios 'Who Me per seni | two to three cents

cut the dividend blabor and gross profita 'and | Wool markets. generally were ties in the dret six months as it Board had

drm fought to bring supply and from 75 to 28 emnts in April other trading indonise threes slow but priers were

UP.L demand into balance-UP.I UPI.. Der seni hiškas ---TP)

UK PRODUCTION RISES ONE PER CENT

London, July 21. Britain's production In the first quarter of this year romo by about

gent, as per Treasury abouneed today.

teracting barriers of smoke or The dive-lype helm and flame when fires occur in ships, the oxygen supply vibrator or in Industrial plant,

The are of ölk-Swedish dosign. The fallure to overcome such fires is men behind the new suit are often due to these factors. the Air Force medical exporta The object of Are Brykholm and Tara engines is to produce a largo In Laurcil, who both aro ex-flow of gases into the particulat perienced jot pliots, and Drorens ·cóncerned. These gases Wilhelm von Dobeln of the would- bo transparent und Contral Instituto of Gymnastics, chemically inert.

using

jet

that

+000

ile month" "bubilbation. Eponine Trends, “thế" Tres- "buy"A" the gross dumbello Hy ontrast there was a fall of product in the first quarter of |* Bejwven "qüo"knd' two per omni 1959 was £293,000,000 or siz In public cultiorifies expendi

Turb"înă Mˆexyörta of goods The suit has been tested ut The practical application of por oint higher than in the hi Research Castro's high- the

And devices, Üret quaster of Zani yok. In experiments depende, 'on Faltbudo chamber at simulated making molst the exhaust of the · rond- farma "16" was about one Enventist in hooks and work heights of upita' 40,000) 12.

rogenin' in the druk quari

· jet engine uand Tor Arn-DjNting. per stuk, higher.

of

mond,

recession.