1958-08-26 — Page 9

TRANSPORTATION

Automatic Monitor To Detect

Fuel Contamination

KNOWN

as the "Fuel Monitor" and designed to augment the present stringent precautions risk of the taken to

slightest prevent contaminated fuel being fed into aircraft, an automatic monitoring device has reached an advanced stage of development and field trials are now in progress.

its Future introduction by

Shell will add andher safe.

gard to the extras.ve aviation BI's FIRST OIL

fuel quality control systern already in operation on airfields | throughout the world.

Aviation fuels on delivery to

TANKER LAUNCHED

An aircraft must be free franRS T.W. Cree, wife of sediment, suspended matter and the water well as eneclint

MRS

the

Chairman of Mackinnon

Mac-

and Company

physical properties of a rind Mossr

specification. Solid continanis kenzie en effectively be proved microfilters and water tamination can be avoitied or detected with present-day equip-

and 4.

Celtiques

There rends, however, the pissibility of fellure of equipment and/or the human element.

FAIL SAFE

Is

THE CHINA MAIL, TUESDAY, AUGUST 26, 1958.

Pago 9

Are Lower Rates Enough?

More Needed To Restore Confidence

By RONALD BOXALL

London, Aug. 25.

| British industry is operating below capacity, yet the Government's anti-rocession measures have so far been confined to a means of oncouraging industrialists to invest in new plants and machinery. it reasonable to expect a firm which is not able to utilise all its existing machinery to instal new and expensive plants, merely because: money is both easier and cheaper to borrow? Or will other measures be needed to ensure the desired expansion of industrial production without inflation?

three

Evening-up Accounts On New York Market

New York, Aug, 25,

Wall Street began today to even up its accounts in advance

of the Labour Day holiday Monday.

HONGKONG

STOCK EXCHANGE

Our Own Correspondant

Business done on the Hong- kong Stock Exchange this

mately $322,000. Noon quota- tons and the morning's trans- actions were:

Shares

BANKS

The overall result for slock market was a series narrowly irregular price

the Pean. Bait Co.

of

Procter & Gamble Co. Pittburg Plate Glan Radio Corporation Radio Cary.

Republle Steel

Busetair Di

menie. Speck Issues outbld the major groups, Steels ran up | Neynolds Metal more than a point on a rize in operationa la the industry for the eighth consecutive week and held well,

Trading Nightened when prices turned irregular and that was favourable for Lo SOCT 05 bullish forers in that is reflect el a jack of liquidation......,

Some of the oll shares firmed. Domestly issuCKS responded to further moves to reduce

in ports of all. The laternationals were sustained by indications of Eart to the calmer Near extent that recently raised in- surance rates on shipping in to cut back

Ц

New Highs

the steels

which Gains in Trose to more than a point lifted many of the issues to new

Industrialists and economists who are asking these questions, agree on one thing; when the growth of production is resumed, costs per morning amounted to approxi- unit of output must be kept down. Arguments for higher pro- of manufacturing production., In are these in- of ductivity are too well known to very few cases

producing more than need repeating here. The prob-dustries by Pakistan Limited, recently em for Britain, is to

uchlove at any time in the last launched the British India rising productivity on a scale years. The output from most of HK Bank.

peak-level stable them is below the Navigation Com-adequate to sustain a Steam pany's first oil tanker Queda. currency, plus a rising standard reached since 1965. And since learns to these years cover the period of Principal dimensions of the of living. Unless she

bale com record-breaking industrial in new ship are $34'-0" B.P. x 71- reconcile these two 8" x 39-6" with a deadweight or mitments, sold Sir Miles Thomas. vestment, obviously a good deal bars

Chaimmon of Monsanto Chemical of plants and machinery is un- about 19,100 (ons.

of j employed. The main hull is dividevi by giant, end deputy chairman currugated bulkheads no 27 the British Pinductivity Council, cargo tanks and 2 puinp rocas last week:: while a small hold situated over the forward oil fuel deep tanks is avallate fer carrying benzine, Apart from rivetlig to way of the bilge and sheerstrake, the vessel is generally of all- welded wonstruction.

Tho need was therefore felt for in automatk monitoring device which would be both fully "lall safe" and be situated as near to the end of the fuelling system and hence us close to the Lircraft as possible.

The new monitor, (which hus been designed by The Shell | ACCOMMODATION

Unsed

a

"Forces that ix already bring the tradi- evident, nuy

institu- tional structure of our tions down about our care."

Mechanoun is by no means in ang pro- the only factory ductivity, but at the present rate of advance in industrial I is bound to be

HOW MUCH?

|

THE PEAK

Investment

and ม plant machinery reached its peak laet autumn. Before then it had been risin ateadily. But in the Inst three months of the year 11 dropped four per cent below the previous quarter's lovel there was further reduction the volume of new investment in of this the firs: three months year.

and

and

Investment in new industrial buldings reached its peal: in the first quarter of 1957 since the there has been a sharp fall,

Petroleum Company, in con- Special features of the secunt» | treimiques, Junction With Stream-Line medation, widships for leers most important for scene Lime to Limited, of Laden', and aft for P.O.'s and crew, inerme. And the plain fact is that Filters comprises a valye and sensitive clude air conditioning of offers British industry as a whole, has and public rooms, MU machery than it is al elenient inserted in the main fuel cabins

If on-

[and] preamt able to put to profitable permanent swimming pool scam to the aircraft,

through incna projection utt. Fibre us. uminated fuel passes

endin

tan decks will be atted the sensitive elmut the

over exposed decks in the ac- valve will open and clore, as the

and comodatient spaces. delivery valve. is opened

Just how much spare capacity Of course, not a new plant The closed, so at it is repentedly

pelling machinery,

exists is a matter for higher and machinery is installed solely Some of it eunstruc.ed and installed by the evertised Lad any rid of it ben

In increase output. academic argumery, but there is In the open builders, consists of cae set of coming "frozen"

with double doubt that a fairly high pro-replaces old equipment that has turbines position la eliminated.

steam

ar become obsolete. most industries is under- Another part of it is planned to It is also constructed so that reduction artlettlated type gear portion of plants and equipment wern cut

ang, capable of developing a total

maintain the existing rate of pro- implyed to some extent. fulls maintenance, such

en korvico

duction with less manpower at a failure to replace the nut, SH.P.

koots. speed of 14

La

saving of other costs, will

valve fer prevent the

Electrical power will be supplied opening. The element itself-

two turbine-driven alter- by rust and casual handling can- not use damage. The templete

L

is

CO

unit can be easily installed existing teliers or hydrant dis- puisers.

These valves will be on display at the Farnborough Air Show September.

or each of 550) K, W. and one diesel alternator of 200 K. W. for

emergency use.

This vessel will be carrying oil cargoes as soon as she is

Com-

pleted and handed over. Scott's ship, will be building a sister

Quilon.

recent poll by the Federation of British Industries, three-quarters of the 554 Arms taking purt, replied, "Yes" to the question: "Is your present out put below capoelly?'

h less dramatic forta, the same information is available in the in- output recurd of various dustries that make up the Index

COMMODITY PRICES

The

LONDON

rubber

WOR

May/June July/Aug.

31.15

2201

Mixed Contract

at

Ort/gov.

Deen

MatzAP:

24-24 247-244% 245-2410 2416-24% 247-24

May/June

July/Aug.

*** FOREIGN

EXCHANGE

NEW YORK

Closing rates were:

England cal

steady with1

market spot quoted 24-3/10 pence per b. Prices!

No. 1st

Settlement house term

Sept

2415-2431

Canada

Audira

30-nya

-

New Zealand

South Alien

Argentina

Boll

India

Pakistan

OM/DSS.

Jan/May.

April/June

July/Sept.

General markets, elf final, port

24-241

Aug-

4 buyer

Seni.

1.03

OFL.

24-242

2.5015

Estate crepe this

1.00-3/10

Sepi.

ASPA

2.75-2.82

24

Estate crepe tick

Sept.

21%

2.3944

2.80

AMSTERDAM

001

2104

2100

LONDON

us follows:

No, rubber

Closing rates were:

New York Montreal

Amsteriuh

Druzels

Copenhagen

250-710-280-0/18 2.72-6/10-272-7/18 70.574-10.07% 103EF-TRH 110-11.703% 173084-1740 11717-1173 72-39-72.42 12.209-12 21

· Frankfurt

Milan

Porta

Նորո

Zurich

Other

changed, -V. PM

The rubber market Was steady. Prices closed today in guilders per kilogram, ef Sept.

No. 1 rbber

No. rubber

No. 1 crepe

today as follows:

Marcover, it is not likely to be the newest plant and machinery that stands idle when the finn is oporating below capacity. New oflelent machinery and more usually begin to yield a return As soon ct it is put to work, Lack of demand for a firm's products may keep ita costs per unit of hoped output higher than wen whitt

was new machinery planned, but it will normally be old machinery that is up: klle.

INFLATION

Nevertheless there is spare in. dustrial capacity in Britain and this makes it difficult to cure the recession in capital goods with- out risking a new inflation.

The fact is, there is no lack of 212 demand for consumer goods even 2130

if it is not always effective. On 21.04

would 24 the contrary, producers 24.00 probably have all the demand UP..

they could cope with it restric- tions were taken off

METALS

NEW YORK

Prices of metal futures closed today as follows:

Lead

Λυκ. Sept.

250 buyers

Zloc AUR. Sept. Cupper Aug.

Tin

Aug.

Sept.

228 Bunt.

2,20 not.

252 nom.

--U.T.I.

Sept

LONDON

consump

ituyazz Hellera

Axles

that aren were former levels.

760 772.5

349

TTO 170

т

50 me

INSURANCES Union

73 74,50

Anin Nuv. 1273 630 Wheeluck.

1,500

5,50

DOCKS, ETC. Dock LAND, ETC. Ik bel UK Land.

42:20 43235

21.20

22 35 1000

300

500 or

SHOPING

Testy

RUBBER Amola. Trat.... A. Tawal.

Singala

UTILITIES

highs for the year, including 10 28.50 U.S.

Steel, Inland, Eastern Sininlegs, Jones Laughlin, 1275 and Wheeling.

1.379 1. LỆ 000 Hệ

3000

1.02-1.574 1.50 1.05 2.12

1100 200

Train 25.50 25.99

BRA

کا نام

A long list of special issues me point or beiter, many to ww highs, the motors held in

So did u narrow area.

ปา leaders of the chemical section. Store sharts muved up with and Grand Union at 1376 safeway

new highs, Reynolds was sirong in the metals, Firestone in the tyres, and Mesla in the machinery group.

Penn and Texas jed in volume Curtiss- cused slightly. 17.40 Wright rose more than a point 190 on 17.40 in second volume place.

Yauma..

05.50

210

450

ar?

C. Light

jo,

17.20 17.50

100

GOD

21.30 250 1500 20

1000

700

Beetle...

100 TAO

19290

17.30

21.40 Other

included activities Mohaneco, U.S. Steel, Rexall, American Motors, Olin Mathic- 25.30 2900 2560 23.48 30, General Motors and Stude-

baker-Packard.

Macao E... Telephone INDUSTRIALS Aany Can. 39.50

STONES, ETC. Dalry...

17 17.10

Watson 10.10. 11

Lane, Crow Emporiun COTTONS Textiles .. Nayang INVESTMENTS Yangiezo..

Allied

30.00

1834 39.50

250

New York Stock Exchange 170) bond volume was $5,190,000. 17.10

American Stock Exchange volume was 900,000 shares.

Socony Hoblic

Standard Branda Standard oil of Cal Standard Oll of Ind. Standard Oli of NJ, Steep Teck Torento Exes.) Sterling Drug Co. Stokely-Van Camp. Atudebaker-Packard Corp Sunshine MIBIER Swift & Co. Texas Co.

Textron Inc. Tri-Cont. Warrants Linton Carattře Union Ot of Cal .... Union Pacific Railway United Alterati U.S. Fol

U.S. Gypsin

ស

Renewed London

Dullness In

London, Aug. 25, Renewed dullness of British

Government bonds fea- tured a mixed stock mar- ket today.

Lossca in the gilt edged stcurities ranged, to more than a dollar following PANOUNCE- ment of a £12 million Issuo by Kent County Council.

MOVED LOWER

Aircraft,

nzich

commercial

Brewery, theatre television stocks moved lower in the in- dustrial section, but buliding textile and steel issues rose.

Oil reacted from a high open- int and closed enster on bu Lance. Gold shares covered

37 some carly losses and finished

mixed. Copper shares cased.

Foreign bonds were quiet and featureless-u.p.i.

2014

U.S. Rubber

US Selling

VS. Steel

U.S. Steel

P.C. PF

14013

Warner Bros,

Westinghouse Air Brake

Westinghouse Electric

West Va Pip & Paper Woolwertil

2011 601 130 47 V.P.L

Tin Exports

Kuala Lumpur, Aug. 25. Atalayan Government officials and members of the tin industry would not conarm or deny to- day a newspaper report that Milnya had asked. the Soviet Union to suspend in exports.

They said that Malaya's at. titude towards Russian

CX-

Agreed Merchant Rates ports and the situation of the Canadian Dollars: Maximum | Malayan tin industry generally Setting, 104: Minimum Buying, would be discussed in London 17 TT 17 1/16 0/D.

-at-a-moeting-of the Interna- Swiss Franes: Maximum Sell-torial Tin Council on October in. 75 1/10.

next-Reuter.

E-

PO B·IE.A

COMPANIES.

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

Outwards "CORFU" "KHYBER" "KARMALA" "SOMALI" "CARTHAGE" "SALSETTE" "SUNDA" "CANTON"

1,000

13.30

8.50

3.70 60

5.00 4.000

7.10 1.000 GP

0

6.95

New York Stock Exchange volume was 2,010,000 shares.

1,000

400

Of a total 1,158 issues, 477 closed higher, 421 lower

*

with

199 now higha sot,,

A

Dow Jones closing

averages

Cut.20

132.85

15 Elitis

72.07

"CONFU"

N

Locks

174.41

40

bonds

RS.45

“SURAT"

Comrn. ure price index

352.02

PREVENTING

RECESSION

IN BRITAIN

London, Aug. 25.

were:

30 industrials

20 raila

Closing Prices

Allied Chemicals

Alden Die. Ary

Alle Mkt ine.

All Chalmers

A. Brake Shoe American Airline

The Council on prices, pro-America: Case & Radi

incomes

Corp.

the can Cyanami Cu. Amer, & Forgn. Power

ductivity and

advised yesterday government that the best way to provent a recession in Britain was to cut in come tax and lower in- direct taxation.

the

lender

The Council also said tion But Cugures aimed spread of an economic recession: directly at increasing consump-abroad which could affect Bri- tion like de-control of hire tain could be lessened by an in-

would mean risking crease of loans purchase,

and credits by that has beers headway

made Britain to such countries which against inflation (earnings are may well be judged to be of still rising though production is mutual advantage to fallitur.)

and borrower,"

The Council, under the chair. In the Arst stage of re- expansion therefore, an increase manship of Lars Cohen, was set 10.80s in production is likely to come up by the Government in August So from greater utilisation of in-last year to investigale problems 25400 dustry's resources of both ma-of inflation and study ways and 25 626 chinery and manpower. Onlsens to avoid a 94.23 when these are protably em- 25ployed will firms begin to step

29.401

Prices of metals closed today In sterling per long ton follows:

Tiu spot

up their investment again.

Coy.

recession to.

SUCCESSFUL

In it the Council agreed that The moral of the recent exic government's anti-infla- tionary policies of the past year

Am. loeng Prod American Moto!

American Smelling American Tel & Tri

American Tab. "B" Anaconda Copper Armeo Bicel Armour.. Atlas Cone. Mun Baltimore & Ohio

Benguel Cons

Bethlehem Steel

Borden (The) Co.

Through Add Mechine

Gallt, Packing Corp. Canadian Pacific R. C. J. T. Financial Corp. Chase Manhat. Bank Chrysler Molors Chuelt Peabody Colgate-Palmolive Co. Cominercial Credit Commonwealth Eice

Continental Cil of Dei, Co solidated Edison Crown Zallerbach Cuban Amer. Sugar Diamond Alkali Diamond Match Co. Dupont de Nemours Eastman Kodak

El Par National Ga Ford Motorhok General Dynamice General Electrle. General Foods as perience, in that it is easier to

General Motors Glidden Co speed it up. Investment in a new now, in order to slimulate de- Goodyear Tyre misers Sellers means of production is a man mand and encourage

consump-1 Galmman Alterati

Newport Corp. 750!

festation of confidence in

lop "It would be posible to zo-

Ingenull-Rand..... 2032 2031 future, and it takes more than duce the rates of lax on per- Interchemical Corp 20414

204 a lowering of interest rates to

Bonai womų of the indirect in Business Machines

Inli Inverter 12 restore confidence cinep it is

tuxe's consumer goods and international Nichel 63% shaken. - London

Express services.

Inta Tel & Pel Kaiser Industry

slow production than it ib to hind been successful and that G., Tyre & Hubber

731

13

Nov

7336

Zine 2nd half Aug.

Nov.

+

U.P.1.

RUBBER

COTTON

NEW YORK

3-month

Copper spot 3-month

Prints of cotton futures closed Lesd 2nd hall. Aug.

Spot: 30.30; Bel; ung: Dec: ung.; Mar: 30.14; May: 33.97 July: 35,49; Oet: 2.10; Dee: 32.0T

NEW ORLEANS

Prices of cotton futures closed

The market opened slightly today as follows:

higher and ruled quiet

agency reports of attempted Spot: 36.10; Det: 35,25; Dec: 33.62; vasion of a Nationalist Mar 30.96: May: 35.80; July: $1.24 Chinese islo 1 coused short

SINGAPORE

unisi

LIVERPOOL

Oct: 31.70; Dea: 31.80.

covering to bull buying.

No. 1 rubber per lb. Sept. 1994-3

Colton future clonings, pence per b. were as follows:

in

116-0194

77-70 7344-7316 DR-83

Out/toy 0311-0015 Dec/Jan

American Contract

No. 2 rubber per lb. Sept.

No. 3

H

No. 4

Spot rubber unbaled

fio. 1 palo crops

Banket crepe

SUCAR

New York, Aug. 25. Contriot No., 4 (world)'

Merch

4 Servck.

3.48-30

May

3.44 Total sales: 200 contracts. Spot cents per ib. fob'Cuba) 3.50 "Open interest: 8,291 contracta, Contract No. G (domestic)

March

Walkouts

the

On the government's anti-Kona C, Power & Light inflationary measures the Coun-icennecoli Copper

cil reported: "Our judgment adggett Mayers Tou. Co. Ulat the policies of damping Low Incorp

Lockheed Averaft down demand have worked to Lone Star Cement Co an extent that fully justines McDermatt Joy their adoption."—UP.I.

Exchange Rates

Minnesota Mining

Mimion Development Mormanto Chemical Co. Montgomery Ward National scut Co. National Cast Ret. "A" National Lead National Steel Corp. New York Central w Norfolk & Western Hy this North Amer, Aviation

North-west Airlines 8.00 Our evators 16.00 Oxford Paper Cn. 12.44

Paci Ga i deg. Big Pan American Airways 25.50 Parke Deris Co. 1. Peony 7. C. Co.

Detroit, Aug. 25. Workers at the Bulck engine plant in Flint, Michigan and at Ford Motor Company stamp- ing plant in Chicago Heights,

Business was done in a local Illinois, went back to work this

unontolat oxcharge market morning after walkouts last morning at the following rate

A walkout at Chrysler V.B. dollar (per 1) .... week. Corporations Chrysler-Do Bolo Berling notes (per #1) plant in Detroit continued with Austrailan notes (par 21)

Indonesian rupiah (per 100) talks acheshajod der today.am ticat (per 100)................

Bingapore (straits)

21.16ate, non contracta

Open Interest: MÁ Đontrarts-URL Reuter.

14.10

(Com.

יטן$

3727

412

Homewards "SOUDAN" *

"CARTHAGE" "SOMALI" "SALSETTE"

"CANTON"

Leaves London

Balled 24/7

Salled 20/0 Sailed 15

Pist August

22nd August

6th September

Due Hongkong In Port

30th August

2nd September

10th September

22nd September 10th October

20th October

17th September 20th October

Leaves Boogkong Dus London

20th August

29th AugusÉ

29th September 29th September

17th September 23rd October 10th September 27th Dotober 18th October 25th November

22nd October

17th December

24th October 24th November

Via S'pore, Panang, Colombo, Bombay, Aden & Pt. Bald.

*9OUDAN", "SUBAT" and "SOMALI" ca: S'pora, P 'wely Pepang, Aden, P. Sald, Havre, London, Elamburg. Rolterdam & Antwerp,

BRITISH INDIA S.N CO., LTD.

"BANTHIA"

"OLINDA"

Que airt Aug. salls 1st Sept.

due Ath Bept. sxs Sept.

"BANGOLA" des 12th Sept,

Falle 13th Sept.

"OBRA"

trom Japan for Singapore, Ponans, Stangoon & Calcutta

from Japar

for Singapore, Penang, Rangoon, Calcutt& Chittagong

from Calcutta, Bangoon), Pahang & Singapore for Japan

P. & O./B. I. JOINT SERVICE

due dist Aug.

"OZARDA”

Jet Sept.

dup-20th Sept, and 11th Sept.

from Bombay, Bhavna gar, Karachi, Katla, Cochin.

& Tuticorin Singapore

for Japan

from Japan

for Singapore, Cochin, Kuwell, Haursh, Kher- manthahr & Karachi

EASTERN & AUSTRALIAN S.S. CO., 1

"ARATURn dựa 20l, A

vanila Bukta Aug.

"NELLADE" dua 11th Sept,

sai a sejt.

frown Australia far-Japan

troņu Australia for Jepan

All vessels have liberty to call at any porte on or off the route & the route & saliings Ata subject

to change or amendment with or without spice.

Foi full particulars apply tu:

MACKINNON, MACKENZIE & CO.

OF HONG KONG LIB. Telephone Nos: 27721-4.

*

*

*