1958-09-01 — Page 9

4 THE CHINA MAIL,

MONDAY, SEPTEMBER 1, 1958.

SCIENCE AND

Weekly Survey On American Economy

ENGINEERING THE THREAT TO RECOVERY

THE BEGINNING OF Special News HONGKONG

THE REVOLUTION IN SOUND-IT'S 3D

By JAMES THOMAS

THE word is STEREO-sound in 3D. Last week

this word was launched in a big way at the Radio Show at Earls Court in London. Thirty manufacturers had the new 3D players on view just as the first 100 3D discs came into the shops.

A revolution, in sound. With diacs which supply. from one ordinary looking groove separate channels of sound through pair of spenkers

↑

two HEATING ROOMS

angled to give the human ears USING CARPETS

the impression of depth and

scope

they get in a live per-

formance.

- heated

AN It is only the beginning of carpet underlay which

the revolution. After 3D discs will

SOLID SOUND

AN electrically come 3D radio becomes a cheap method of programines fed over twn wave-heating a room has boon lengths into a single radio, then produced in Britain.

The spilt back through two parlour underlay has been approved speakers to give the same stereo-in Now Zealand and. Aus- phonic effect as the new dires. tralia, and prototypes are in Coneda, U.S.A. and South Solid sound so that when Africa. singer walks across an opera The heated felt underlay stage he will appear to walk developed with they help of across your sitting-room.

Brhish Electricity Bourd This new radio is not so far technicians. There are no forstad-

It the public away.

buys helion coste, and the underlay -enough-of-the-new- 3D radio can be put underneath a carpet

rams, eastly convertible to radio, the BBC, will, within in a room and plugged into

II socket outlet. year, make Brilain the Brst country to get a stereophonte broadcasting service.

of

Wag

"Provided it is used intelli-. gently-switched on ten minute before the room is required and off when going to bed or when the room is to be unoccnpled for any length or time-the cost of healing a room will be less than that of an average coal fire, and there will be uniform heat all over the floor," the flem claims. FULLY INSULATED

So in s Silver Jubilee year the Radio Show, the £2,000,000 shop window which has been dominated by TV for 10 years, moves buck to put the emphasis UD Found

instead ugain sight.

Moves back? Or moves on to follow Tho леш pattern

A 23 yds. x 3 yds, underlay. America, where TV is in for its absorbing 700 watts, only about thinnest winter, while radio. an hour to run in Britain reports a how boom?

and the largest size, 4 yda, x 3 AMERICAN TRENDS

yes,, about 1%d., the manu- facturers state. The units, fully-

in

STOCK

Developments EXCHANGE

Spur Issues

By ELMER WALZER

New York, Aug. 31.

The stock market rose two cents a share during the past week which means it stood still in price change.

a

It picked up a bit in volume because activity in

handful of issues was spurred by special news developments.

with

year

Our Own Correspondent Businets done on the Hong kong Stock Exchange this morning amounted to appro- ximately $347,000. Noon quota- tions and the morning's trans- actions were:

Shares Buyers Bellara

BANKS

HK Bank INSURANCES Union

Dien

750 154 50 @752!!

PING 15 DOCKS ETC.

Wheelock

Provident LAND, ETC.

JTK Land Itur.phreys Healty NÜNDEN

Amste A, Tawah.. Sungala UTILITIES

Fram

Youmell

For the list as a whole the

Compared

of August, ogo the close quibrium reflected the ap- prunch of the Labour Day hull- 1957-the market shows a gain day and uncertainties in the Far in value of all listed shares of East balanced off by rising bual 12 billion. The gain from Dec. less statistics, featured by a 31, 1957, is a giant 37 billion

AL 508.03 on Aug. 20, 1958- sharp rise he building, the eighth

eight

C. Light weekly gain in a row for steel, the close of the fest and prospect of a spurt in auto-months of the year, the market Electric

mobile production.

for Industrial stocks is the Macao E Sales In August totailed highest it has ever been on this Ter

INDUSTRIALS 62,373,050 shares, a decline from dale.

Ckeneni July but the best August, since

STORES, ITC. 1032. So far this year nies

Dairy Wat have reached 429,715,708 shares

14. Craw against 354,807,849 shores at this time a year ago. The toil is unly a short distance from the 1955 total when the full year set

new high since 1933.

Reflected

The Dow-Jones averages

TC-

flect the week's change in price: Industrial 508.03 1 the close on Friday, up 0.35 railroad 132.52, off (1.44: utility 77.97, off 0.00, and 05 stocke of the three averages, 174,52 off 0.00.

Comparing the August close with a year ago, there are ins over all. Industrials are up 24.28 points; uilities, up 10.13 points and 65 stocks up 7.94 points, But ralls are down 4.97 points.

Comparing the use of 1957, American trends, 313 home insulated and not affected by the showing is very much better

72.04 dow damp or liquids, are designed to industrials up

points; across the Atlantic. This is oug maintain

floer temperature of rolls, up 35.50 points; utilities, reason why the Radio Show's 72 to 75 degrees F., giving an

up 9.30 points, and 05 slocks, up Traditional bank of dickering

ale temperature of 57 to 03 de 28.81 points. sereens called Television Avenus

Sreca F. in o normal room turns this year into an Audio

Breplace. Fall bullt round the new, magic word STEREO,

entertainment usually

MI Freddie director of

Perks,

sales De British Radio

The Corporation, said:

TV

with

Special unito have been designed for the American market because

of the differ- Ences in standard voltage. (Thermalny Ltd.. Shelf Mills, market is becoming saturated, Shelf. Nr Halifax, Yorkshire. The novelty is wearing off, and

the boom in ordinary discs is

dying. For a year the buck-

room boys of the industry have BRIGHT COLOURED

been working all-out to produce

a new kind of sound, has LIFEBOATS URGED

been a slick and colossal job." The B.B.C. has followed the industry trend. I decided

IFEBOATS

to save the £20,000 It usually pointed spends on producing TV shows from the special Earls Court studio,

Now its engineers will check 'carefully on the sales of the new 31. radiograms which, for £15, can be adapted to take stereo broadcasting as well as stereo diac's.

should in

bo bright

colours to make them caly to sea, the Maritime Board at Lucbock suggested.

According to the Board, the crew of the German four innat

banque Pamir which sank in the Atlantic last summer with the loss of 80 ves, would have End a better chance of survival, hasl This autumn they will begin | the Pamir's Heboats been bright to experiment seriously with 3D instend of the dull colour of 1- transmission. It could be that tural wood.

year's Promis will be PASSED CLOSE broadcast over special aerials, One of the Pamir'a survivors, beaming sound from right and Guenter Hasselbach, said after left of the orchestru, so that he was saved, that ships had the new receivers can pour the passed close to his lifeboat with- music into the parlour without noticing it.

the same balance and fidelity Meanwhile the crew of a Ger- there is in the concert hall.

man freighter, Muansa, follow-

SO CHEAP

Already the

scientists » are saying that they con

turn

out a radio to take stereo sound for a pound or two more than normal prices,

The million-pound

industry

ed the Maritime Board's sugges- tion and painted Its lifeboats a They said the bright orange. pilot at the South Airlean port of Durban had Been the Muansa's boats in the fog before could make out the ship's he superstructure.

gamble on the new sound will Tests with differently colour-

می ہیں

ed canisters drifting on the sea begin when the covers come off have shown that a bright orange the How models view day. They will reveal canister could be seen twice as sterdo record players as cheap far as another of a dull colour-

as 20 guineus, sets convertible China Mall Special.

to 3D radio for less than £60.

The TV men may have bigger FLAMEPROOFING

screens, tidier, slimmer sols,

But the catch-word this year PLASTIC NOW

will be STEREO. Maybe you will not quite pet Moura

Lympany in your lap. But at TANY processes

Icast it will seem as if she is

HOLLAND

CUTS TIN

IMPORT

The Hague, Aug. 31.

Dutch The

Government announced today it has imposed restrictions Saviet tin.

оп

com-

A Foreign Ministry munique vaid the Government has been "forced" to take the step by Russia's refusal to be- come a signatory to the inter- national agreement,

COMPLIANCE

The decision of the Dutch Government, made in compilance with a request by the producer- members of the Tin Council, is based on the Dutch Government's

5.15 8.00

11.10

31.74 *

200 ค

14.30

135

1.524 1.33

2.15

1.00

93

0.10

29.30 25.40 9000 şi 25,40 1000 20.40 1000 25.40

1730 17.40 300 @ 17:10 21.40 2745 3000 #27

25 23.10 1000 ♫ 25.10. 1000 6 2930

23.10

17.30

209, 13.10 500 69 13

2000 19

1000 330

MISCELLANEOUS

INVESTMENTS Yonatste XD

18

1000 *100 a

0.25

Alle

On the corresponding date of 1957 it was 484.35; 1950, 502.04; 1885, 468.18, and 1954, 335.00.

Sales this week totalled 13,577,760 shares, a daily aver- age of 2,715,502 shares. These COTTONS figures compared with 12,270,243 | Textile shares and 2464,049 shares re- speclively a week ago.

Gains and losses came close to ahead of the losses. o balance with the gains slightly

Narrowest

573

The market was the narrowest 1,367 since Inst April 3 with issues appearing on the tape. Of this number, 634 gained,

106 held $1 declined and

There were 272 new changed.

and highs (or the year net

10 new lows.

The activity ceritred on issuca in the day to day news.

Cuntis Publishing look top place with anies of 229,400 sliares. it touched 124 and clused ut 12 up 3% points or more than 35 per cent. The rise came after the company nounced its major publication the Saturday Evening Post henceforth would accept liquor advertising.

Gr-

Bell Aircraft drew up into second place with a turnover of 208,500 shares. It ran up from 18% to 23% and closed the week

at 22 up 4 points. The

Entert

Gold Market

Paris, Aug. 30. Business in the gold market was at its lowest ebb during the week ended August 29.

The holiday period and light liquid assets reduced dealings, but prices again resumed an upward movement, China Mail Special.

Exchange Rates

market

Sterling notes (per Austrollari noted (per £1) Indonesian rupiah (per 100) Ham tien (per 100) Bingapore (Straits)

LOG

10.04

16.40

Strikes In The Auto Industry Would Be Far-Reaching

@

New York, Aug. 31. Strikes, which have not been an important factor in the American economy for many months, moved into the picture this week as a serious threat to the slowly improving business scene.

par year."

Strong Attitude

Most of America's glanl L- The companies are just as de- | the recovery, who want capital dustries- auto-making:

one coal-termined. Said

GM for top

expansion. To get the mining, steel production, etc.-- | oficial

money from the investors, the have have been covered by long-term In 20 years of labour reln-[US. Government would contracts between management❘ tiers work, I never have seen! to pay high Intercat, a polley and Inbour. These contracts GM as determined as it is his displeasing Congress. So the call for automatic yearly

'thuney mʊbably will be raised "escalator" raises.

from banics through sole of clauses in

short-term securities. which wages rise along with the

And the offers! cost-of-living

Federal Reserve System, as it Bgures,

Some observers wonder if this has in the past, will make money strong attitude means that the available to the banks so

they big. three have agreed to strid can

the bay

Government The auto unlon contract CX- together against the UAW, and securities, although in so doing, pired last May

and the

that strike against one would the Federil Reserve wul be ployees, members of the United | be followed by n shuldown at defesting its own anti-inflation Auto Workers Union, have been the olders. working without contract since

and usually for slowly increasing pensión benefits.

em-

on

The effect the U. 5. then. At the time the contract | economy of an auto strike, even ran out, the US, was still deep | against only one big company,

or

mcnsures.

-Requirements

do

In its recession and, union would bo far-reaching. The The Federal Reserve can strategists felt that the com-auto industry, directly in this by reducing reserve require- panies would welcome a strike, directly, decounts for one out of ments, thus freeing bank funds, which would reduce inventories every six jobs in the nation. The or by buying up some older of now cart Instead, the teel, robber and glass indus: Treasury securilles-hold-by-the- union and the companies have tries would be hit hard, and so banks. Presumably the banks been negotiating more or less would upholstery and gf course would spend all the additional steadily, but with no results. the many retail cutlets of the funda for the new Treasury industry-car deôlers, auto radio issues, but then the banks could dealers, accessories, etc.

borrow from the Federal - Re- Steel makers count on auto serve, using the securities as

Inflationary

Big Threa

It was geherally felt that manufacturers for 20 per cent collateral, and make available there should be a strike, it of the total steel volume, and funds for possible would be called against one of strikes would reverse their pre-credit expansion. the big three-General Motors sent trend to stendy recovery.

in terms of actual value, That there will be expansion. Ford or Chrysler-just og pro». duction started on 1850 models, almost 3 billion a week would of capital investment seems sure thus forcing the struck company be involved. Normally, nt to come to quick ferma so that start at its competitors old no get too models, the far ahead of it in sailstying the out about 150,000 units per week with a value of 3.7 billion, with another one-third to be added to translate it into ultimate re- tail value.

1959 market demands.

the now. The International Stails- production of new teal Bureau reports that U.S. automakers tur toti production may reach 138 to 140 per cent of the 1047-40 pyetzge by the year's exh. It was 120 in Aprli, its lowest point, 133 In July and 145 a year ago. Overall, production has recover- ed one-third of its 1957-58 losa and some experts believe re- covery in gross national pro- duction may be complete by Do-

Could Block

Sicel producers are as worried

|

SINGAPORE RUBBER MARKET

With the unexpectedly strong improvement in business gener- ally, it had been felt that a strike was less likely than over, be since the companies would eager to get to this market which all experts predlet will be, as the automakers They agreecember-U, P. I. a pre-recession lushness.

that even a short strike could That optimism was shattered block the orderly recovery of

mem- the stock market, and that settle Busters was done in the loost this week. Auto union unofficial ettinge

this bers, who for months have been ment of the strike would bring. moting at the following rato complacent

altun- Ns own problems, since auto- about the U.S. deitar (per

tion, were beginning to grow molive orders would then flood 12.36 Irritated at company tactics in the steel sales office and bring

negotiations, and “wildcai" (un- about an artificial shortage.. authorised) strikes were mount- At the moment, the steel. ing Some 11,000 workers were orders from automakers are on Idle today in scattered strikes. the conservative alde, and orderà More and more unionists were for peak auto production rates. demanding a strike a show the have not been placed.

The steelmakers also havé an companies they are determined

interest in to win their defbarida.

the - auto unlon Hetaliation, for the big con tracts with steel labour come up for re-negotiation next year, and, like the auto Industry, the steel industry plans a united front of hard opposition to de- mands by the steelmakers union. If the automakers cepitulate.to the union, the steel companbes position will be that much more difficult, and they argue that the infiation spiral will be that much more advanced.

Agreed Merchant Rates

strength centred on the com- pany's development

West German Deutschemarks, of a new rocket fuel ingredient.-U. F. 1.].Maximum Selling, 71 15/10.

I

COTTON FUTURES

ON THE DEFENSIVE

New York, Aug. 31.

Axed policy of supporting Cotton futuros remained on the defensive this past week,

finishing on lower ground for the fourth time in a row.

much as possible ny inter. national agreement concerning mtural resources, the Ministry said. Britain mado a similar Inavn yesterday.

An Economic Affairs Ministry spokesman stated that the Dutch restrictions work out at a 40 per cent cut in tin imports from the

weekend

irs

Singapore, Aug. 81. The Quemoy invasion crisis

strengthened the Singa pore rubber market con- siderably but New York's failure to react soon im- paired the gain and by the end of the week, prices were back around lust week's levels.

The Holiday Cutler Bath, rubber brokers, reported in its Weekly survey, said that the up- At the moment, steel is ahead wing in the week has been of expectations in its recovery, extremely quiet with the bulk Output last week elimbed to of Business in No: 1 shoots con- 1,800,000 tons, 12,000 tons Higherfined to switching out of Sep- thian expected, and output this ember into October.. But the 1,717,000 Quemoy Invasion scare, how- tons. Last week's output was at ever, look prices up to bð-cent- the rate of 62.6 per cent of a pound because of short. capacity, and this week's would covering and bull-buying. be 03.6 per cent. Experis pre-

There has been better

week is scheduled at

dict that production will be in

the 70's within 40 days for this week.

Anti-Inflation

}

en-

grides and fair business has been transact- ed in variety of typès with as yet little alternation in ring discounts.-U.P.I.

Bank Of England Statement

At Friday's close the list, paid mod attention to the 2 cents a pound the week

the previous ruled 10 to 65 points-50 cents developing samti

A significant change in the

quiry for remed to $3.25 a bale-lower than the Formosa Straits. Houtine atten-

tion was given to a continued į matkat situation during the preceding week.

situation and { week was an increase in un- A good part of the trade con- favourable arog bed on evening-up operations never from the toxtlie market. fixed call sales. The figure ruie | Sovitt Union.

before the

20,000 bates to 118,000 boles long

This was but one of the many Holland Imported 7,500 tons of

Pressure

compared with 485,100 bales signs of beiter business, which Russian in over the past 12 holiday. The New York and

last year. For some me, the again focussed ettehilon on the New Orleans cotion exchanges months-U.P.I.

will remain close until Tuesday

boon dropping anti-inflation fhi. Chlef July came under continuing coll sales havIN

prob morning for oborriCO of pressere with sellers presuming aching to low fast week. Thelem here is the expected 12-

increase, billion federal deficit aldificant that delivery, which marks the Arst

Indicales year ending Contirating wealmness in the end of the 1957-88 crop season, technicians thought, July, 1950, delivery dominated would become a dumping that more cotton is being sold Where shall the Government gei the market most of the time ground for unsold cotton at the to mills on which the price that money? Otherwise' tibier appeared to senson's end dire to the has not yet been fixed.

The best way would be to The an anti- prospect, for lower supports for

mid-August parily re- draw from non-bank In- be going through climax, following approval

such of 1959 under the new fast law. port, Issued late Friday, show-vestors,

Insurance the farm bill and the Jegisin.

ed a 12-pbirit drop to 38.34 companies, pension funds and -of The Jizly premium over cents from 38.55 cents in July Individuals, through Wir providing for the sale

sale October at the weekend ape and compared with 30.03 cents lode-term securities. But these With the legislation uncer-proximated 2 cents a pound a permit in anid-August" est investors are being courted by

a spread of year-U. P. I.

businessmen, made optimistie by

Consumption Of New

U.S. Rubber

Washington, Aug, 31.

Labour Day holiday.

collon for foreign currencies. MAN diretameproofing U.S. consumption of How & Wit's the fedslator under preparoit

playing Chopin on the plano plastics, most of which you have in the parlour corner. meet a series of spotiah re-

PLASTIC SCOURER

A POT

be

quirements. One such pro- cess is said to be especially affective whore household plastic fitments are concorn-

scourer of a plastic|ed.

to

rubber dropped about 10 per cent last month, thế] U.S. Government reparted: today, Ali natural and synthetic rubbor shurod about equally in the decliné.

types

of

on was 90,100 long tonis corti-

with

SALES OF US.

vrier 115od on

for the

next June 30.

COTTON GOODS SLOW

01

Notes in circulation

London, Aug. št. The Bank of England slate- ment for the week belded Aug. 27, reads as follows

Sterling 2,040,007,150

Publio deposits

Private doppelte government securities

cipt Qher accurities

Railo

-U. P.

Bank Of France Statement

New York, Aug. 11. "turn would come right after Depridanent stores belles fest in cotton yarn, prices in meat": called Cariona claimed to This is because, according

"of the market were softer than bylon and so the scientists responsible for de

The report said July consumpALES activity in grey Labour Day. That reasoning work ran the per cent ahead segments

the boiler that of a year agó, "with soft goods | reported to be shier, but buyers Hight it fonts on the washing veloping it, it does not affect the paced with 107,413 tone in June and finished cotton many and

converters needed liner moslly responsible for the silk, operated cautiously, op*.

Paris, Aug. 31. The Bank of France slutecent up water is being put on the colour, transparency, or tlund 108,493 In July 1047, goods held to the slow gait, goods and well have to cover. increase, which was called more } parently waiting to get a better export market by British cency of the plastics treated.

The slump in US automobile adopted several weeks 4 teal They thought a "deckled"

Other weaves-Fernbined. sicep« | thờily pl scusotish- gendra,

kien of their fail business pro- for the week ended Aug. 21, firm. Unlike many pinatie do- The operation of the process and igro, patiduction Wdo the -right after tension in the Improvement in the movement

pects before entering lile im-rendis og followers vices which can be destroyed depends on the use of a chlorine chief factor in the decline.

Prices on most constructions portant new yare engagements. real geld nofsinga, by heat, this naturer, which, sand phosphate compowid · In

of finished fabrics must precede held stendy to fit. ewhere,

Total other cortensies bi red, yellow, blua or green, which on dryt substituted phos the end of July totalled, 207,101 Tradvis bocetno more holding extraordinary buying in what do the woolen trede, lesion pro can be sterilised by boillag for phate is used.

bring and duck weloch marked account, noted filled activity due to Mabilisa long tons of which 69,077 tonim minded, untiespoing the tabour grey goods. two minuted, Tho crds are It can be effecilvely used, ik were natural types, Khan Day observanco- cus Monday. The strained volume of coft priten "up" Yetu cant: DƐ WID, OF

“worsted -.......pkavis. - - Epinndes- nenied by a weld so that it will is claimed, without affecting July coming tim of natural | Offers abounded, meanwhile, on goede paler at the retall level, more. not unravel in use. A fürge operational performance, for the dry rubber was dower to 29,10% when cho cries buying movement (jandi Indicalionar-the chain stores The picture in wide industrial | word copocted, shipping ognicial | mask naken in circula Initial consignment has been demo-proofing of both electrica) | tons, from 33,593, trim 29. June, lai mari to get undervis sport are intercated ing now abelo obtică virüs mattered: by Labour" "dis debata në ai nicis tikler vate sent to Canada and another to appliancos, fektohe equipment Latex dropped drómi 0,804 forwa Opinion on that score ditorech. Aren, VETE olher - favorinule suncevistiken dry--ther wutomobile vaimse debe a apo backing voet

|ansť bežkiroven equipment,

Jude to 4,601) in JulypsUPI. 7). Some

buttom-UP.I

Scandinavia.

U.S. stocks of new rubber at Middle East relaxed;

About sho, straw in the wind:

Bindustry.

}