1958-10-20 — Page 9

THE CHINA MAIL, MONDAY, OCTOBER 20, 1958.

SCIENCE D Labour Leaders Pessimistic

ENGINEERING

Amazing Automatic Landing System

For Planes Shown

London.

But Majority U.S. View Is:

Prosperity Ahead

Now York, Oct. 19.

A COMPLETELY automatic landing system Labour leaders, concorned by the continuing high level of

for airliners, developed after five years of British research, was demonstrated here to air- liner operators and service chiefs from many parts of the world.

ELECTRON TUBE

STANDS SHOCK

A

"CERAMIC-IN-GLASS" electron tube said to be capable of withstanding ox- treme conditions of vibro-

The system, produced by

the Royal Aircraft Esta- blishment at Bedford in the English Midlands, enables a pilot to land in thick fog without touch- ing the controls and is claimed to be one of the greatest improvements in flying made in

recent

At present civil airliners can It is expreted by the deve-approach runways on Instru

ments only down to 150 feet lopers to pezinių (siproved per-

which the

Inust p$101 formance in many types of atter electronic equipment, including complete the landing manually.

HANDS ON KNEES Hulded missiles and satellites.

ส

tion, shock and fatigue has years. been announced.

The uw device is the reait f But the "blind" landing sys- of the adaptation, for use items enables him to

unemployment, struck the only

possimistic note in the

1958's

American economy last week as leaders in all major segments predicted prosperity in

last quarter and in 1959,

Latest Bgures announced by the US Department of Labour showed that unemployment fell 400,000 in

Sept. 15, nearly double the nor

the month ended

mat

seasonal decreuso. This

brought the jobless total down to 4.1 million, low for 1998, and President Elsenhower and members of his administration, facing a November election in

un employment have been a major issue, hailed the figures as showing a strong recovery,

which the recession and

George Meany, President of the AFL-CIO, and other labour leaders promptly challenged Interpretation. They out that total fob- 64.6 million million in

with his that

As against 59.4 August, and that

the conventional gles envelope hands on his knees throughout pointed or blub, of the coramie "stark the whole landing process with-holders numbored cd" tube next developed in 1954. out even seeing the ground,

Wit:in K glass envelope. Only afler the plane hos the device employs a "planar," landed and ja laxling along the or sanndwich-type mount struc-runway does the pliot have to ture. In the assembly process, tough the instruments to switch various elements of the mount of the automatic control and are stacked one on top of the steer the plane to a stop. other, instead of being built around a commun axis as 331 conventional tube, Ceranule SLACETS L

Ud In separate components of the stacked Dunnt.

con-

Unlike the mulet used in ventional tubes, which has

Introducing the new system today the Bedford Research Do- that it had partment revealed

tested already been

in more than 2,000 landings

with bothy Propeller and jet aircraft with- out any damage.

by

Magnetic fields induced cables running along each sido of the runway hold the aircraft to the centro while an Instru- rent-known

ft radle

tendency to chip aud Lake under vibration and shock. ceramic is said to have unusual mehanical alrength nud Ad- shock-resistant properties, durally, it is claimed, thick- altimeter-automatically adjusts

The rate of descent.

more

ness of ceramie spacers can be

Drift due to cross winds is accurately controlled for

Frected and the throttles are greater stability and uniformily.

moved down to a safe speed as structure is The mount

the plane levels of to Innd. immediately be Durled

to adaptable to

manu-TAILWINDS present facturing equipment. The tubes

14-

The system has been satisfac-

can be sculed and ex-hausted | forlly tested

in thick fog in

and strong taliwinds.

on units handling conventional crosswinds of 25 miles an hour tuber.

PRODUCTION COSTS

CUT IN DOLL MAKING

PROCESS developed in

A the U.S. for making doll bodies is said to permit a 25 per cont reduction in

costs.

It is expected to help over- come price advantages of large Imported dolls and to intreuse

A spokesman for the research unit said

the blind landing

systems still had to be

highway construction should be up 18.8 per cent to 60 billio.

Thus it can be assured that

but

there will be a boom, and that it will be solidly-based, thut unemployment will remain a sore spot.

pro-

COTTON

GOODS

MARKET

Long-term figures on ductivity show that unemploy- ment

increase probably will

In 1948 rather than decrease. there were 12.7 million workers in American factories, today there are 11.9 million. Yet the

New York, Oct. 19. 11.9 million put out 35 per cent more products than did the 12.7 Cotton fabrics, both grey and million.

finishod, showed "a tinuing improvement for the third work in a row. In fact some analyste became more convinced the India is on the verge of 1 definite "break-out" after more than a rear of plodding in the doldruma.

Production

In the past six months, fac- thetory production has jumped be

tween nine and 10 per cent, but

employment is factory only six per cent from Its low. S to be considered is the

Ex

for of workers jobless months or mora remained high. The drop in jobholders' is a seasonal one, as students give up Their summer jobs to return tö eloss, and inent low.

steady population rise, with more employable persons avail- farm emplorable each year.

Pointed Out

aro

Mr Meany pointed out there still

1.5 million more unemployed this month thon in the comparable 1037 month, and that there were 1.1 million few jobs in September, 1958, than in September 1957.

Many of these jobs will be recovered, because they have been eliminated management tightened

con-

NEW YORK STOCK MARKET REVIEW

New York, Oct. 19.

Stocks mounted to a new record high for industrial shares last week in

in spite of a rise in margin requirements to 90 per cent.

And the volume exponded to

a new high since the week end- ing July 22, 1933. Sales for the week totalled 24,402,570 shares, a dafty average 4,080,014 shares. This compared with 10,104,940 shares OF A daily average of 3,320,000 stares daily in the previous week. Back in the 1933 week sales reached 42,320,033 abares.

The market set a new high on Monday and fell sharply in the

two succeeding sessions. The decline reflected fears of credit lightening market men said. And when the Federal Reserve did nothing more than

SOVIET UNION NOW SECOND TO US.

AS A METAL POWER

By HARRY W. FRANTZ

Washington, Oct. 19.

raise margins to 10 per cent The Bureau of Mines said today that the Soviet

from 70 per cent, the market resumed its uptrend, Telleved

at least for the time being.

Average

The industrial average ranged between a high of 548,30 met at the close on Friday for a gain of 0,25 Doin's that session, and a low of 338.14. The gain for the week amounted to only

three points.

Falls lost 0.07 on the week, closing at 147.29, % point below their high since July 1957, after ranging between 147.31 142.78.

and

Union now ranks second to the United States among world producers and consumers of most minerals and metals, and speculated regarding potential effects on East-West trade.

Bureau experts anticipated ƒ of Gunnny, Iily and Sweden, the desire of the Soviet Union) In that order.

if the opportunity to sell to the United States principal

is offered With the Sing-Soviet bloc, the mineral trading

in this country.

iron ore, manganese, chromite | nations are China, East Ger-

and Poland

Czecho and any other metal for which mony, it might ind an export market slovakda,

The Bureau of Mines, in n general analysis of the Soviet They pointed out, however, mines situation, said that the that because of the absence of a Sino-Soviet bloc is steadily in-

the creasing formal trade agreement, Soviet Union rould not obtal quantities of mineral and metal

the

number

and

the lower tariff rates which are given by the United States to a commodities offered in inter- "mest favoured nation," at the national markets.

Besides the traditional ex- higher rates, the Soviet would ports of And it dimoult to compete in United States morkels,

Free World

Brightest spot in a steadily improving picture focused on the heavyweight fabrics, paril- Utilities set a new top for 28 Joining Meany in crying for cularly those

the years used by

but slipped slightly, on Bellere of Friday caution this past week was a automobile trade,

to close the week at top U.S.

oficial, ruteens, drills, twills and wide 82.04 up 0.48 on the week and Treasury Charles J. Gable, Jr., who re-sheetings reported the

best 0.03 under-the-high-The that in business in many months," with average minded the economy

of 05 stocks in the nation cannot be ignored. prospects for even better results threo averages finished the week

when automobile making gets at 188.36 up 0.00. "Inflationary psychology must full strido.

Jo allowed to Hain rot be

The Standard Poors index of minance in

In lightweight gonds, brokera 500 stocks missed selling a new tho American economy," he Bald. "Already said the recent quiet trading high by 10 cents but the

Within the free world, about) has Involved multiplicity of Standard index for ullities set bree-quarters of

which in the small orders

a new lop.

mierol and metals sufficient

with aggregate, have been

European Market men sald the trading United Kingdom, is almost entirely on basts although the Federni Reserve sald market eredit was at new high back os far as records go. Thoy meant that Most of the demand for grey only a tiny percentage of the goody centred on spot and near-market valuation was reflected. by positions. Comparatively In the loans on stocks.

the growth of such paychology

Soviet trade nations-the

manganese, chromite, gold. platinum, asbestos and anthracite, the Soviet Union world countries, and an even greater number within the Sino-Soviet bloc.

By 1936, the value of the Soviet foreign-mineral trade 1 exports plus imports—exceeded $2,000,000,000, at the artificial Finland, commercial exchange rate of to onc United

the never

in the Dnancial markets poses a threat to confidence in our economic future. Such development,.

прего- tons during the recessions und found that much work could

to enable some mills to nehitve an 80 per cent sald-up position

cash France, the Federal Republic four roubles continued,

would seriously Impair the flow of savings on which the econo-

done just efficiently with faw inen. Also, most capitumie growth of the country spending in the last year has

technology, been for Improved Tether

expanded than for plants, and the belter machines

DC-jobs.

cepted by civil operators and International agreement

was

sul necessary for its adoption

fur airliners. It would bud sometime before it was brought into use.

The Americans had

also

duce o blind-landing device

but the spokesman believed the British one was "more flexible." --Renter

the use of small dolls for pre- Low-Price Portable

miums.

The process, on which patent Colour Duplicator

Applications, have been

employs

the blow moulding

technique commonly used ko

the

manufactur of plastic low-prica port- able duplicator with a

bolites.

of

JE

A blend cunventional 30-second changeover from

and Fortifex, Jona-colour polyethylene

to another has rigid polyethylene, is used,

been announced by a British Economies

achieved

|firm. through the fully automatie

Although a full-sized, al). blow moulding nature of the technique and, additionally, Purpose machine capable of of dies, taking any size of paper from through redhiced cast reduction

quantity of postcard to foolscap, It weighs in the plastic material require and only 30 lbs. freight savings made possible by paper feed lighter doll weights.

Nuclear Reactor

Safety Equipment

A

TRANSISTORISED elez-

The automatic is described DS giving hairline registration en- string easy and accurate multi- colour feed.

To change colour, the split aluminium benrings carrying the shaft of the stencil drum

Der

Mr Meany noted that industry hak recovered nearly 10 cent of its slump. According to the satistles on output, but int only 23 per cont of the luss In total non-farm jobs has been regained.

Lulit."

18

for the rest of 1950.

With

Demand

Gable agreed that the overall picture is good, but sald that and wchniques have eliminated all segments of economy tle has been booked into the

The decline of Tuesday und should work to close the gap first quarter, or later.

Wednesday seemed to whet between sovenucs and Ex-

appetite of investors for penditures in future years

Inventories down at the the retail, wholesale and et mill they swarmed into the market and after a brief dip on the higher The general worry about in- levels and, with

wores flation has died down from the | oller production costs

On an margins.

Friday. some covering was reported peuks it attained

six ascending scale, manufacturers short BOMD

boost

Short prices. were wary weeks ago when

about being led helping it bocame

down ton tight at current prices, interest figures for October obvious that the recession had

15 are expected on Monday ended and a new boom was en

In fael, some weavers of in- and If they show a big declina the

way,

Federal

money dustrial fabeles named bigher the market might meet further moved quickly to prices on sateens, wide sheeting selling. it was held.

The rise was helped along

"With this heavy unemploy- Tecni

purchasing consumer

but be power

officials

ERO!

Affected, Mr Meany argued. light the money supply, and and drills. Manufacturers sold

the

Bullish

by a series of bullish news items from Industry and from

BUOYANT MARKETS IN

LONDON

London, Oct. 19. has been a week of buoy ant markets with the Fin ancial Times industrial ordinary index rising to a three-year peak.

States dollar.

Competitive

Recently, the Soviet Union has offered three highly com- petitive melais-aluminium, tin anti zine-on world markets. For each of these metals, the Soviet Union importa row materials or a" finished-product (Chip 10), from other Com- Aalst countries, -

Bureau

of Miner

oxperts the speculated that

Soviet Union might use its mineral- production pontential AE

weapon

There have been a number of faclore helping to sustain the

markets and brought a fresli The

Print cloth manufacturers, Washington. Auto production wave of buying from invest especially due to growth of

economic political through foreign trade. cannot help

From 1938 to 1950, the pro- portion of Soviet Union mineral also raised Everywhere else, the predicquirenents for

margins re- they intended to get price up

the total value of imports to stock market to at least a "Break-even point," tions were glowingly cheerful.

the foreign trade dropped, from Miles Cotean, noted construc-cent from the previous 50 per

purchases, first going to 70 per or "we will either

cover the

92 to 20 per cunt, and experts looms or transfer them to mora tion economist, forecast that cent, and last week jumping to

rose from 13 to 31 per cent. proniable constructions."'

increased 1959 would

be the first $50-10 per cent.

were exports billion building your in history,

emphasising the present *km-

the week ment quarters to small the day- | ferrous and non-ferrous metais Tom Campbell, cditor-in-

Attitude

possible" prler situation, recall-ose moderately on rd that goods now are selling and would boom if strike in to-day dealing from other quar-exports. chef of tron Age Magazine, au-

ended, it was ters

"Many of the Soviet mineral old various plants thoritative volen of the metal

below the With these

substantially curbs, plus the

commodity exports constitute a held. celling

while prices, industry, predicted steel pro-reasonable

small proportion of the tree- settament by the OPA

other production unid

Steel duction

and wagus 1950 will 110 huge aulo workers

operations unlon, us

world shipmonis of such Items have becn million net tons

costs compared to well as by the couilous ntillude steadily for 12 years-U,P.1,

climbing loadings set new highs since

as aluminiun, tin and elne, Additional factors have been last November. Retall B3 million for 1958. Only four of the buying public itself,

spurted well above a year ago. the record payments surplus particularly shipments of such rushed wildly other years 1953, 1955, 1956, which has not

Most other indexes of industry for the first half year and the lower price, dislocate establish- 1957-have topped 110 million to the market despite all-time

record savings

except building moved higher. continued declino in the Tread free world trade patterns," with which to buy desired products, the fears

There was a temporary log in aury bill rate. There has the construction. of inflation have subsided,

Personal savings are at an Frederick Donner, new chuir-all-time high. And in Septem- man of General Motors, Baid ber personal incomes All D

tons.

In

Expected

be

he expected the auto industry new all-time high for the thiru reaching u

to Bell 5.5 million cars in 1969, month in a row, compared to 4.4 millon for seasonably-adjusted annual rate 1058, und that the now con-1 or $57.5 billion,

up 1.4 billion

tracts.

of

are

for this September

New York Cotton Market

New York, Oct. 19.

was 6.1 billion higher than the Cotton futuros moved Irregu- farly lower in a slow holi- day-shortened

believe. sinco

ure hinged to one side and a tracts with the aulo workers from the revised August figure.

drum substituted for the | NEW

union will not be inflationary. The figure one in use. The entire operation since no price inereuses are takes half a minute. A separate planned us a result of the con- same month in 1957. drin is used for each enlour. tronic

The power-limiting

Conventional type

this purchasing If much of Prices of many models system, designed to detect coated stencil is used and the

higher, but these prices were power should go to the market and warn of any abnormal machine is operated by hand at

up to 100 copies íl minute. set long before the agreement at the same time, it wil and condition in a nuclear reactor | Mate of 18

gauge steel ta with the union, and in most shortages, the experts

A

no real Infation, but and automatically shut it shuple, sturdy design saritable

luxurious cases roficet a more

the productivity still is capable of For the most part, cur. down if safety requires it, for use by unskilled operators,

It is finished In

hammered price, increases are small, some meeting the demand.Ü.P.J. has been announced,

with black

times as little as $9 on a car The silver-gkty

and The first application of

(The Star costing some $2,400, new "cut-off switch" is to be chromium fittings.

Manufacturing Com- With the expected rise in Kings Chambers, now autos, petroleum experts Kings Road, Berk-belleve the demand for oil and hamsted, Hertfordshire, Eng-

Fasoline will be up tour per Land)

cent in 1039 from the 1950 recussion Aguros, which them- selves were up 23 per cent from 1857 but still below the AVCATO rate of yearly in- erease.

in the 60 million witt reactor Carbon

one of the largest of lis type pany Ltd, in the world now being built Lower by the National Advisory Com- mitee for Acronautlos for use in testing the effects of alomie radiation

materials tal

011

might be employed in nuclear Chrome-Iron Alloy

uircraf!.

The equipment, which is aux- illary to the reactor's regular control system, comprises more than 100 transistors contained in a housing smaller than

conventional refrigerator.

A

OPPER wire clad with a

Coleon's optimistic prediction chrome-iron alloy has been was

nomewhat unexpected, developed 13 on electrical aince some observers thoughi conductor for equipment which that tho ever-lighter mory must operate under high ter supply would force a slowing: perature, corrosive, and oxidising of construction chiefly in new homes, Interest rates on bonda

It la Bald to represent a conditions. major advance toward

aater

Sub- but Colcan

The wire is produced by and other loans now aro at a and more reliable electronic inserting an oxygen-free, high point where mortgages are less equipment for the control of conductivity copper rod into a attractive as an investment, the largest reactors now under chrome-fron alloy tube.

belleves that new construction or being planned sequent cold drawing and an- single-family homes in 1059 and will, it is claimed, pamit nealing of this assembly are said will total 13,7 billion, more economical operation by to provide an actual physical Pubile construction— offices, eliminating

false-niærm shut-hand between the cladding and schools, etc will be up 8.7

the core material, dowzan,

to 10.8 billion, and-i per cent

CITY LIGHTS

BOARD MEETING

Nomi

London Express Harvion

four sessions.

week of

At Friday's close the list ruled

car

trade

Tracing involved 1,404 issues and of the 588 gained, 091 lost and 148 held unchanged. Three hundred

fourteen and made new high and 12 new lows.-U.P.I.

Bank Of England

Statement

London, Oct 19. The Bank of England state of seven to 30 points--or 35

ber 15, reads as follows: cents to $1.80 a bale lower than ment for the week ended Octo- In the preceding week.

Aggressiveness on either side Notes in circulation..

of the

market was lacking. Public deposits Buyers were caulious in face of private deposita good to ideal weather conditions, Goyment securities

Other securities for barvealing at glining the Receipts стор.

Flatio

Factors

the

Bureau of Mines

also aid been too much

money chasing Publication. too little stock. The fact that the

The Reasons £25,000,000

loan Australian was absorbed with such 2380 Experts speculated the rea- underlined the general lack in

sons for the Soviet Interest in capital now

issues and the

expanding foreign trade are: Industrial prices of

equities have tended to rise unduly be The Soviet Union initiated a crush programme to meet cause of the shoringo Gast Its stockpiling objectives. Now Ing supplies of stock, possibly that some of these objectives accentuated by the amount that have boun mei, the country has has been taken up by option a surplus production capricity dietters.

on 3-

of som metals and minerals.

interest With

this week As a result of a large ex- chiefly concentrated

ploration programate, the dustrial equities the gill-edged Soviet Union found new minerai market has been quiet but the sourdes, which it developed tone has

distinctly beyond its own normal domestic remained and the Australian Arn

loan needs,

Union needs had only a mumentary effect The Soviet

foreign exchange to pur- the market

chase industrial equipment, and. therefore is ready to sacrifice some damestic requirements for minerals.

€2,014,115,372

$3.004,7000 310,380,676 $70.224.350

37,001,197 37,131,320

Bank Of France

Statement

Overshadowed

The foreign bond market was

Recont economia. reor- alsa overshadowed by the In-★

the Boviet ganising of There terest in equity stocks.

Union caused a slow-down iri was ronewed investment support development of some minera! for Japanese, many of which and

molat Industries while maved to new high because others are out of line with the their high yield; until 1982 areat, of the Industrial st!!! being Live.

considered

nitruc-

pro- gramma.

"Begause the Soviet Union

The sharp boost in stock mar- ket margin requirements night attract more outside speculative participation in cotton, traders hoped, particluintly since cotton margins were recently reduced. Southern spot interests were accredited sellors of around 30,000 bales on forward months on Friday. This selling was

Paris, Oct. 19. Germany bonds were steadier exports many commodities for presumed to represent hedging The Bank of France statement after their recent decline will which she herself depends on by farmers who are electing to for the week ended October 9, | Reich Jonne hardening on substantial imports from other

Communist

It balance.

nations, market the colton under pro-rends as follows

Greeks were guleter gramma "B". Under this del-up, Total gold hold

by: maintained & fem undertons possible that it is in the interest cotton faremërs can ineroase their

PARKING FT. 101,558,205,406 with prices tending to edge of the Soviet Union to keep acreage 40 per cant and the Tow other cut-

10,275,348,607 | Jiwarf Chinese bonds cased world prices for these commodi- minimum loan will be "diVO DET BUNKE

becoming dizzy with the Dulles down, as free-world market 14,125.200.000 somersaults.

prices,alpo affect the · price stroad in KPU cant or parity"

[hat the Soviet Ualon enäet Traders voiced a theory that TLA BUBIKE DIA

to Dollar stocks have been Arm pay

ita gatellites for perhaps spot interests

commodities," Everanteeing, the farmer, at a

DAMKAGU,227,175 jin line with Wall Streel. Sharps the BEKTAS RECOUNTE certain price a pound and were Current

shortage developed in a number United States experts concluded,

-U.P.I. of favoured equities.-U.P.I. hedging the cotton.-UP.I.

ings

counted

culationDPR

and deposits 44

1,035.805.COM.DRA

-300,209,271 197

U.P.I.

the