1958-11-03 — Page 9

SCIENCE AND

ENGINEERING

THE CHINA MAIL, MONDAY, NOVEMBER 3, 1958.

Weekly Survey Of The American Economy

RECESSION

DISAPPEARS

NOW THE DRAPERIES Incoming Business Tops TV USED TO The Bogey On

WILL LIGHT YOUR DREAM HOUSE' NO American "dream house" of the future is

going to be complete without draperies that light up like lamps and picture windows that can he "switched on" at twilight in any colour of the spectrum.

Electroluminescence is the name discovery which will make this possible.

Under developement

11

of the

The Mono-Rail Transporter

laboratories

WestinghouNO เ enerat Kieetnie anch Sylvania Corporation, Juminescence.

elreliu-

werks Wit

..

principle: a layer of transparent Cannot Be Derailed

phosphor 1: placed

Inyers of electricalb

ve nullerbal.

phor reuet

Between

by throwing it out

which

mono

NEW hydraulic An electrical dange is then

rail transporter is to be into the outer layers, shown at the Public drected

Works the atrons an The Exhibition

opens at on November 10, it the form is egy known Olympic

Also being exhibited by the same company will be a wide electrofurvinésorber, The range of concrete batching, proportioning and transport- ing equipment, including a new mobile coment silo.

light. CHEAPER

electricity is SENTIOCHLES A FIUTKY

beg

tarej stages

"This

Changest g

Invest ahoul

AMERSkmei

Year-Ago Level For

First Time This Year

New York, Nov. 2. Amid optimistic-almost jubilant-forecasts of a new business boom, the last traces of the recession disappeared this past week as U.S. manufacturing firms reported that incoming business topped the year-ago level for the first time this year.

New orders

year.

climbed to 20.8, and will spend only about $1 billion for September, reported billion. Thus there will be a rise of about & billion in unnumber- the Commerce Department, com-

for Seped funds and best estimates for pared to 28.5 billion tember of 1957. The September 1950 envisage a similar rise that

1958) Agures also were 'up 70 anilion from August of 1988.

The improvement in business 1 marked and extends to ali helds. So clearly is the pattern visible that Fortune Magazine, conservative and expert bus-productive capacity for the boom

they feel sure is just bess-management organ, is will-

others will bulld Inventory, ing to say Ratly that "the busi- ness recovery is beginning to come will reduce borrowing. revelop the strum DE 让 _ *il 3

boxan."

Contributed

Many factory contributed, but The major bases for the new boom appeared to be unexpected strength of capital spending by improved industry, the vastly Wies

The mono-rad) transporter has 11 Means

election Jeninesernce

provide, tacti de erloped from the weit.

pero-call which hepse Lght, and wil have a Sturth

national psychology as consum - and late-okyoetanei

vreuspped with gear box

ers and businessmen alike clutch artyte-mugi WestinghomasK/

The new

Kathed full cunâdence. and Baists, driver- place the

rebuilding strong trend toward The des powered wagon dimag by electroluminescent light on American market $

this Pans

ght light, l

ha

| |

Arst

the

Te

a

10.

4.0 '' petrol mine: power inventories which were allow

he two drivinged to run low during the bow

bydraulie directly

to the will Et will sell the} alut eigh: shillings

'FORGET IT

Westinghouse

-rate

launs

That

for- "you can turn it on and

mat." Even yana torget 11

Ja sha wall whole

yen:

Jess On

Than 404 Jennyworth of elevaty A standard night-Balt

about no-eighth Text only

and will consume Pennyworth

electrielly week.--eve though it Henry

used only ut nicht.

the

two

During

Jala

WE

in,

поже

nths,

Yoch 3 Now arom (notaurer wit lat-bot for the

[111

tobie maattend wheels by

holder.

chui multag the Keur box and cutela, atd reading in increased performance The unit will tow

Ce or two waliers de

gradient

Japon

involved IMPOSSIBLE

Stabilly by actieved by the shlardising wheels on each unit By are independently adjusted and make contart on the channel at the bottom of the rail

Curni-

offer par man home

letter hes, ent

HOT BLAST TORCH

WELDS MAGNESIUM!

clamed to be aimost impossible U derail the squipment

The new cement sild has a 30-ton capacity sturage hopper which can be ruined, or lowered to horizontal for travelling, by

with the help of built-in hand winch The sil en feed two mixers placed back to lock, end to end, or at right angles to each othe1⁄2 A Wo Lubed pheomalle prod chasxla, with over-run brakes, ly inear- Sorated. (Roar Muchtre Drayten; Lid West IMG . England)

BICYCLE, claimed to be STORAGE CABINET

the world's first all-

aluminium olloy welded FOR NUTS & BOLTS

bicycle, built with the aid of

a now hot blast torch, was shown at

public ☐ recent demonstration of the torch

In Bristol.

NEW type

of storage cabinet for nuts and bolts, washors, electronic components ond other small

The demaistration Was al-items, can be housed com- fended by representatives of the fortably and safely inside a Services and industrialists from standard six inch girder. all parts of the country.

This space and labour saving It was stated that selentists at Porta-Unit" ay, it is called can Harwell have

carried about the new so be

ested

л shop

torch, and have succeeded iaitor or built-up into storage welling magnesium with it

Q

Llos

Thi

cabinet

is made

freon

J

codon

Olders for new machinery for industry were up 17 per cent In August from the low of just 18-billion reaching winter totality

September August. gures are not compiled yet but

De certain

larger. hnd Machinery production declined Undly during the reccssan, and renewed strength here undicates a strong base for bang-range business strength,

desan

Housing starts remained at a high level despite tightening of Government for Guvernment- bucked, mortgages rose by 25,000, indicating that the Government undi next pinch won't be felt spring, and even then the pinch TRAY be negligible

private capital makes mortgage money I available.

Corporate finances are in their best position in years.

It up- pears now that corporations wit Irum ull Take in 38 billion

including Sources,

borrowing.

HONGKONG STOCK EXCHANGE

Our Own Correspondent

What the corporations will do with this cast will depend upon each individual company. Some will plunge at once into capital themselves spending to assure

abrad:

The U.S. economy has not yet | regained all of the losses of the recession, but now it is sure that those pre-rocesalon peaks will be reached early in 1950 and grab- ably surpassed in late 1050 or in 1360.

The Federal reserve index of output was at 137 in September, held there by low output of automobiles due to strikes. The October figure should be higher, and the old high of 145 should be reached early in 1950) coul The gross no- then surpassed.

Bonal rotuel continues its rise. And in cunstant prices Mobably is already cqual to the 1957 pro- sperity peak. The GNP testi- mated to be at an annual rate of 440 billion under the all-time riso sure to high,

GOVETA- steadily from now on. ment estimates place the GNP at 440 billion: a Fortune Magazine business survey is for more op- timistic. placing the annual rate GNP at 451 Lillon now and predicting a further rise of 15 bilion in the spring of 1959.

and seeNS

Most important of the boom factors fur of the anti-Inflation

was

Galer

Noel autom

"Our lost director didn't really have a head for business,"

London #korasa GateRUN

|

Į

поту

plan addition of

a half-billion dollars' worth of stocks. Both too low, ac- figures may be

experts, who cording to some note that durable goods plan to increase their stocks by Ave per

cent but at the same time expect a six per cent Im-

sales, In provement

Non- durable goods handlers expect a five per cent sales boost in late 1959 and in 1959. Ir the sales increase as expected, or if they Agures, better the predicted

the retailers will be rushing to replenish Inventories, and can be expected to order heavily to avoid another pinch.

Awaiting

Still to be felt are the new-cor Detroit sales for 1959 nodels.

slow going manufacturers are

their ortering of ateel, Awaiting reception of the cars.

been slow Production has most General Motors caTE,

רח

due

the

TRANSMIT

SHARE PRICES U.S. Cotton

London, Nov. 3.

A London stockbroker is uring closed-circuli taja. vision to transmit stock price changes clients. on an export- ment basis.

to

16

The business daily news- paper she Financial Times reported today that in- formation

in written on

a perspex sheet which le placed in front of the television scrogn The cathode ray tube scana it and sends the picture via

photo electrjo, cell to the client's receiver. Each allent has a choles of which he can chennola

one for Industrials, one

salect with

n switctice

for mines,

third

gut-edged prices.

and

for

bank

The system la intended to save a lot of tolophoning And give almultaneous reception in many offices. Transmision to by coaxial cable leased from the British General Post Office which must licenso all radio transmissions in the country-Router.

Bank Of England Statement

London, Nuv. 2 The Bank of England state-

to local strikes which continued ment for the week ended Oct.

29, reads as follow after settlement

between

Notes in relation .. Public deposita

Private depoelts

pre

Government recurities

Other pecurities Receipt Ratio

Market

HK

New York, Nov. 2.

The possibility of renewed and intensified competition through low-priced textile imports put a damper on the note of confidence in the textiles market last wook.

The doggy petition this

of foreign

time came

COFO~ from

In rayon grey goods, activity ranged from quiet to fair.

Meanwhile, textile merchants

immediate Jeams, have urged

designed to lorestall Impeded flow

Hongolang. Offerings from the Crown Colony involved ducks, some types of sheetings and omaburgs.

Uncertainty existed ከዛ to whether the Hongkong offerings (originated in Communist Chinë.

One source doubted that point.

other yet

believed quartera The

have come goods Iney troma behind The "Bamboo

Curtain."

39

Here's how the Hongkong goods shaped up competitively with US offerings. On inch 00x64-2.85-yeard Joan, the imported offerings, priced on a duty-paid basis at 211⁄2 cents a yard compared with a representative American price uf 24 cents. In sheelings,

40 inch 48x56-3,50-yard num- ber was quoted, duty paid, at under 10 cents or 4% cente

a comparable domestle fabric.

Technicians

Sterling 2.011,959,278

11,502,403

300.04.031

31.216.253

30,230,333. While the threat

12/2

-U. P. 1.

Bank Of France Statement

union and management at the nutional level, few weeks later than did IM, so they too far from full production.

Reception of the 58 cars has been

dealers uniformly good,

the all parts of report from country. Seme dealers say sales are 50 per cent ahead of

However, in carly yeur nud. enthusiasm trad been expected, since under normal conditions the people who bought in such huge numbers in 1955 could be

La be around the The Bank of France' expected showrooms this year to trade inment for the week ended Oct.

23, rends as follows: that 55 model for a new car.

The auto industry,

holdingo Tetat gold directly or indirectly

Potal other damencies sight balanet abroad

EPU

which accounts for one of every six jobs in the U.S. want to be sure that the '50's wil seli

steadily for the

whole year.

I sn, they will plunge whole heartedly into steel stockpiling,

adding still another Arm support

o the censomy.-U. P. 1.

Paris, Nov. 2.

state-

Franc 217,586 290,406 13,304,171,835

14,125,200,000

zem

Advance to Stabia-

Son Fund Tutsi bills discounted 1,835.830,133,201 Banknetes in circula- Current accounts and

ton

deposita

.............. 3,319.037.830.200 400,732,400, 785 -V. F. 1.

steps any un-

of low-priced | foreign-made goods-UP.İ.

HP Boost

To London

Market

Londen, Nov. 2.. The big news this week for investors in the stock markets has been the complete abolition of all hire-purchase controls.

amongst

Thic Chancellor of the Ex- completed the lifting considered chequer

by free- may be more in the future than of controls this week

other things, the present, the situation acted ing,

automobiles, radio and to diam the confidence which has private

receivers, other market television been returning to the

ap- domestle electric and gas since lato September.

pliances, office furniture und

up

-

New buying this week was fitting, and aircraft and ships. reported at a steady, but un-

This

a most usedul proved spectacular" sice. Mills reported.

orders for boost to the markets at a mo- "swarm of smal various .constructions. whichment when they appeared to be

about to a sizable total on bulked

Naturally droop. some print fabrics for the rest of those industrial sections

bracing the 1958.

domestic pilances trade went ahead with thea spurt. This further example of the government's expansionist policy encouraged many people to believe it would be followed by further expanalonist mea~ sures which would result IT cheapening money,

in which turn would further stimulate In- dustrial -rc-expansion.

Technicians expected statistical position on prints lo show increasing strength over ensuing weeks.

Sales yarns spinners reported a mixed market improvement.

Hard fibres generally armed,

NY COTTON FUTURES

SEE-SAW NARROWLY

New York, Oct. 31.

Cotton futures trading, lacking decisive developments either way this past week, continued to see-saw narrowly in slow dealings.

BIG WEEK ON WALL STREET

Business done on the Hong factors. If one wishes to look at kong Stock Exchange this it from that angle) is the decline mor mounted to approxin inventory liquidation.

Last mately $280,000. Noon quota- tions and the morning's trans March and April this liquidation high the tremendously semual rate of 10 billion. In- dustry simply was not placing new orders. But this quidation rate began to slow in May, and now seems to have ended. Best experta estimates are that by nexi spring the rate of stock- piling will reach 6 billion an- nually, and that by mid-year 1950 total industrial inventories will be only three per cent un- der mid-1957. Stockplling for the last six months of 1050 prob- ably will be at the rate of 4 to 5 were well above a year ago. billion annualty,

actions were: that the new heavy gauge steel sheet finished it is clatinod Forch. invented by

Bristol in

olive

enamel, s MILIA

Shores University Prufessor, operates

BANKS drawern have u mnooth, xpring- of the cost of controlled only one-third

swinging movement xy-acetylene plant, welds when opening and closing. Like normally “düiscutt" melais, such the large units is pillar and nut

Is designed as oluriintum, making it partijnstruction cularly useful in the sixcraft and fightness, sturdiness electrónie laduwrles; and it runs rigidity by careful weigh! dis off the normal town gas supply tribution on the pillars them- so that it can easily be used by selves, The unit has

cleaner

X

1inches, in

20 - 100 201m 34715 40 a 745iL

210 71

IK Bank

Dayers Seller

745

INSURANCES

for

Union XD

70

Lombard

20+

and

DOCKS, ETC.

K. Wharf ..

Lock

431.

++

nine

Provident

11.30

LAND, ETC.

2030 211

30.23

30

800 301

1412

1.40

109

1.63

115 Oak,

Trust

100

Sungalk....

A. Tawah.. 2.21

UTILITIES

1014

the average handyman or garage, drawin epch 6 inches x 3

mechanie, using, if necessary, a Inches household vacuum

to inches high. 4 inches wide, is 7 supply the nir pressure (B.B.5.bs, in weight and is fitted with handle. Development and Manufacturing detachable carrying Company, Sraal Street, Bristol Small Bone & Son Lad, 1. England.

BALLOON WATCH

Raddlebarn Road, Selly

Birmingham, England.

Flexible Pipe Assemblies

spend

ÓN MARS SOON

men

will

HK Fotol

11K Land

Humphreyn Realty BUE Amalg

Train 120 23.39

Sur Tery 100

Youmal

G. LIAM

I nearly 18 hours TN addition to a range of flexible electrio

pipes, which have numerous

.. 117

"(it) 13.40 1.0

80,000ft above ourth soon applications in agriculture and Telephone. --studying the atmosphere industry, is the introduction of

around Mars.

23.00

ta 7.30 7.40

INDUSTRIALS Coment. 22,00

Dairy 38.50 18.00

re-usable detachable couplings. Users will now be able to make They are Dr Jolus

Strong up their own pipe næsemblies to Director of the Antrophysics the required length. (Industrial STÓRFS, ETC,

And Physical Laboratory nt Wire Braid Department, Dunlop ration... 1129 11 Baltimore, and Commander Hose Division, Si George's Ion:1, | INVESTMERITS” Malcolm D. Rose, a U.3. naval | Coventry, England.) research physlelai.

1048 13 4000 1.60 A0001GJ 300+ 1.60 114 + 1.00 106100

The prospect of labour trouble In 1959 Ogures in these inven- tory-rebuilding plans. The ateci workers' union negotiates a new eentract with the major steel companies next spring, and all bliter battle Firma point to a which may end in a strike.

Steel

New York, Oct. 31.

This was a big week for the stock market which nearly set a new record high, but the real bullish statistics came from business..

into

The sustaining influence for the market was the long list of favourable earnings reports for the third quarter.-U.P.1.

Building for September show-| 506,774,710 shares, highest for cd a gain of 20 per cent to a the period since 1930 and well above the total for all of 1956 new record for that month. Manufacturers orders rose and and 1057.

The daily averoge turnover week amounted to production got this past Automobile

action as strikes were 4,147,312 shares, against a daily settled and output set a new rate of 3,092,122 shares in the high for eight months. A much previous week. better showing is foreseen for next week. Steel output and car loadings alluped a bit, reflecting labour strife in autos.

andl The big corporations consumers are nware many sinalt ones isrued gains of this ant already have begun over a year ago, ond gided to Euverul to build their supplies so that these reports wero 200 17.70 they won't be forced to shut dividend increases or extras.

291700 down if the strike is a long one. The stock market closed- 500 24.90 Steel tources estimate that moderatoly fugher on the week. ve per cent of today's output The Industrials were at 543.22 in I used to rebuild inventories, the Dow-Jones average up 3,70; which were allowed to fall nila 140.50 up 0.08; uitleg from 30 million ingot tons to 53.22 up 0.04; ond

10) 25.00 373 23.20

240 M3 300 he

330 13.00 3101320

100 1,20

241 m 7.30

200 a 22.00

1200

.375

18 million tons in the preceding 108.29 up 1.20.

05 stocks

15 months. Stocks on hand were, The Industrial average hit the time high on Oct. 17 at soilmated as being a 88-70 days | nl!

in 1250, when a steel strike was 646,36, It then declined in six Imminent, usera bullt up asions through last Monday

ntid

Steady Stream*

then lost 11.30 points. Then It turned up this week on

At Friday's close the list ruled up 15 to off 14 points, or up 75 cunts to down 70 cents a bale

the preceding: compared with wecks.

Developmonia

GILT-EDGED

The gilt-edgti market sicądied this week. .Some long-dated stocks clored higher than they had opened on Monday There was a minor amount of selling early in the week, die chiefly to the previous Friday's higher Treamiry blil rate, but The this was easily absorbed. market now ts in technically n stronger position and soems set for a rice. The lowering by two

sury shillings per cent in the Tren

hill rate yesterday help.

will

Wall Street's uncertainty ear- dull ly in the week produced a tone in dollar stocks and--in-the of a steadier Canadian

ihip section

was

Committee's view on the export of natural gas.

lone toward the end of the period further accentuated by the Bor- in the old crop deliveries re-den fected covering for the week end and the ensuing hellday on

Tuesday-Election Day.

a

Attention

were

Llose

in the foreign bonds market interest was mainly confined to Europeans, Germans were in | demand again and gains of que point in the Young loan" and Traders divided attention be-fraction in the others tween the exceptional besvy rale seen. of produccr entries under the Industrial markets as a whole loan programme, which neted us have naturally been very cheer-

deterrent to celling. Con- ful, with the

ond of hire pur- versely, buyers took note of an chase controls and all improving crop picture and sections standing to gain direct- chances for a substantial increase ly went ahead well and ended in the government crop report the

week with useful gains, eztimate, achduled for Nov. 19. These Included, amongst manu-

A month ago the Government facturers, Hoover, Vaclie estimated the crop at 11,075.000 Electrical Musical Instruments, Ginuing to Oct. 17 Amongst the stores, the tes totalled 5,208,360 bales,

Universal This Stone and General represented 44.0 per cent of the stores, finances . houses like latest prop estimate and were Bowmaker and United Do- British more than a million bats ahead minions Trust and the

NEW NAME? of the same time last year. Motor Corporation,

London.

GATT the General Agreement, on Tariffs and Trade-ins received lotter from Britain

Geneva headquarters addressed for "Gentlemen's Agreement on Tariffs and Trade."

Normally, high ginnings at this tine has been lessened by fact that producers ore"eliher

tho

Jonn

Higher Prices

If this procedure continues, market technicians thought would mean

higher prices by

BASE METALS

aritl

13

holding their cotton off the The Kaffir market war ag market for higher. prices, or are whole reasonably active,

week's strength pumping into the

pro the previous

continued. In the base metal gramme.

sections, coppers felt away after a Armer start to the week; the frond in lead-kincs was down- were ward while tin shares Armly inclined, Bergit being A

ature as well as Ipot.

The trend in the old share: market was downword early in Blocks of 1050 crop cotton the wook, but a firmer tone furth under Ioan Birough Oct. 24 developed later. The The three day rin to Olber regments of business | Friday.

10led 1,034,210 bales, or about Oil Interim dividend la dun Iniso plan to Improve their in- 0.31 points or 10 per cent of the

300 per cent. more than last within the next few days, A The loon #lli have

with an output of 800 tons i

ventory positions in the coming | Tarn

deal with Sinclair Oil put Bri-.. Malayan Dollars. Maximum year to that date. in local months, which means that there Pink thong special

tellemente system week--1,750 feht a minute--has

exchange

Inw collon exports through tish Petroleum in the forefront mounted on top of a spherien! | been installed at U.K. paper, morning, at the fallowing ratexte,

nate will be a steady alream of now shatos for the week and brought Belling 62%; Minimun Buying

the October Ratos total in 53 7 53 0/16 0/5; 53% 36] Get 28, as reported by the New of the market and although Kondoln flung, under

6.79 orders. the wall. The machine has taken | 118, doine (per #1 perc

York Cation Exchange, totalled ngures have not been given balkon.

21⁄2 years le tonfall at a cont of aiming notes (per 41 1820 Ittailers and wholesalers of A3,087,094 kliares, biggest October daya; 60% 60 dayn,

Canadian Dollara Maximum 730,000 bales ve 1,170,025 below is preguned to be a good thing, With it tho scientista hope to about £2 millon. (teed Pngor Austman notes (per 11 durable goods plan to add about since 1979 when the record tigh

Inalonaman saptali (per 1009. 8.30

11/10; Minimum shipped in the same period last The shares gained 1% shillings mensure the water vapour con- Group, Aylesford, Kent, Engum stewie (per 100)

2001 billion to slacks, and mere was not for the month. Sales for Beiling 10

GEO.P.I.

on the work.-U.P.I. tent of the Martian alinosphero. 5 innd.5

100 chants of nuti-durable goods the year now have reached' Buying 10 15/18 T/T; 17 Q/D. Bingapore {mita)

They will ran a balloon to

Be launched from Rapid Speeds Up Output

Bouth Dakoth U.S.A., early in

November.

A PAPER-MAKING Snacking

#

Int. Invy,

11.FC. & F.E

Inven

|95 days, supply,

9.10 PLA

Exchange Rates

Busine

st!

Tuesday, Wednesday and TAgreed Merchant

Trading reached' 20,730,000

Rates