1958-11-10 — Page 9

1

SCIENCE AND

THE CHINA MAIL, MONDAY, NOVEMBER 10, 1958.

Page

Weekly Survey Of

Of The American Economy

ENGINEERING EFFECT OF U.S. ELECTIONS

POLYTHENE SHEETS

PRINTED

IN TWO COLOURS

A

REVOLUTIONARY printing machine which will enable polythene sheet to be printed in two colours without the need for stopping or reducing speed when joining rolls, has, been produced by a Bristol firm.

This new meanine enables polythene sheet to be printed by

1. continuous soli at speeds, FLEXIBILITY OF

is claimed, of over 450 feet per

minute.

ما

UK COMPUTER

A

The

Befanco Flex- now

Printing Press graphic equipped with unit driers, EL

COMPUTER, among the rotating mirror, web-scanning

lower priced range device, a statle eliminator, ten- sion control and automatic manufactured in Britain, will paulers, on both unwind and re-domonstrato its flexibility in wind enda

a wide variety of different machine applications at the Compu will print in two colours, a fur-tor Exhibition which opens ther two-colour unit may be at Olympia on November 28. altached, if required. MUST DRY

Although the basic

to

Designed originally for mathematicians, the computer elaups uses in engineering, and It design work of many kinds. has already proved a value in with "Industrial und dealing commmerelat problems where these can be expressed in terms of mathematical equations.

This new fluid of the applica- tion of mathematies to Industriel problems is well ihistrated

by

Hitherto, Rhus been dificult to print upon polythene, be- cute polythene is chemleully dry Inert, and the ink muat rupidly, but penetrate suelent- ly to key." Satisfactory inks are now available, but they re quire the polythene surfaco be heated to about 120 degrees C. to remove the ink solvents the use to which one of these And enable the pigment tomachines is already being ap- penetrate the polythene surface. | plied, say the manufacturers, and this use of the computer is As 120 degrees C. ls, roughly, described in one of the papers the heat at which polythene to be presented at the Business melts, the surface must be al Symposium which is being or- lowed to cool rapidly, and theganised in conjunction with the main body of the material must Exhibition. be kept of much lower tem-THE PROBLEM

perature to avoid deformation. Tho problem concerned

essential

For this reason, it ta that the printing of polythene should be carried out on a web, which requires delicate tension. control.

All these dimculties have been

the overcome by

new Befance Printing Machine.

The unit driers used employ ult which is blown over electrically-heated elements on to the web. The air is rapidly exhausted

through back

the

3

determining the most economical use of avaliable raw materials in the production of a particuler range of end products.

'Liberals' In Position Of Greater Power

New York, Nov. 9.

The Democratie sweep in the election, with its promise of greater aid to farms and small business, already has had its effect on the American economy, with the stock market pushing to new highs,

Wednesday's trading. after opposed by the Eisenbowering, etc., it will not be of such the magnitude of the Democratic | administration and its form- proportions to guro important-

overall economie, victory was apparent, sent the programme chief, Secretary of ly in the Dow Jones Industrial, average le an all-time high of 550.38, a jump of 6.82 points, or 1.01 per cent, and utilities were up to 88.91, highest since 1930.

Otherwise, the new political climate, with "liberals in R position ok vastly increased power, was expected to have effect on the economy, except to perhaps produce an atmosphere more favorable to inflation.

The Spenders

Ono et

[Beome

TIGHTER

MONEY

Industrials In

IN U.S. Great Demand On

Washington, Nov. 9.

A sign of tighter money appeared on the banking scene this past week as the lending power of commercial banks drop ped to is lowest level It since mid-January, Fed- eral Reserve Board show. ed today.

London Market

London, Nov. 9.

has been a week on the stock exchange devoted almost exclusively to industrial equities with the Financial Times index rising to g...,new high of 213,1,

Investors have been bambard- | It was just that interest

by good news dally from centred slowhere.

TYOS

picture. Agriculture Ezra Benson.

Higher farm income would

the most cheering an inflationary aspects of the economy Is the of course be pressure, since it would also be general feeling there will be no putting

duo more money

to ubstantial thercase in consumer The tightening trend in bank and prices higher federal spending

the next three months reserves reflected a 835-million would also be putting more of more. Thus there is a con drop in "float," and 211- money into circulation without tinuing gain is real fricone, est milion rise in money in circula-d a corresponding increase in pro- mated at 2.4 per cent in the third tion. Float cheques delayed in government leaders, from Erime

Harold Mamilion In the foreign bonds market duetta.

quarter, Government figures collection for which banks Minister

downward, and

with these there was a broadening of inter- showed that second-quarter automatically receive Fodern)

in and out at eat in German issue and as a national

official cheers, 888.4 reserve wan

credit without any

Parliament, ringing in their ears, result of substantial buyers from billich, up 22-billion from Bie change in system polley. aist

favestors have gone hot-footed the continent they came within Third-quarter quarter,

striking distance of their August figures were not available yet. A $140,800,000 boost in the after Industrial shares.

highs. Japanese lamies tverő mix- With the estimated third-quar- Federal Reserves holdings of

As a result gilt-edgods · Jan- feu1 but a lot of Latin American ter income rise adjusted for 1-day bills partly offset the guished like a wallflower on the issues woko from “lingthr are price changes, it shows a lac restrmining factors. Some $5 sidelines and lost ground steadily stestae such as Mexicans, Costa bi two per cent, with another 300,000 of this total was in direct all week. War Loans 32 per Bleons, Ecuadorians and Port of Treasury 14 to 2 per cent rise expected holdings and the reat through's were down 2244 shillings Para.

In the fourth quarter,

repurchase agreements, a system Thus, there will be greater purchasing power, but it will bot of an inflationary type, since there is ample production

Also helping to tighten ze- to meet the hicreased demand.

34-million with The increased buying simply serves was

Treasury deposits in should meat better business all drawal In

Federal reserve banks-UP.J. around.-U.P.I.

Minar Worry But at the moment inflation is but a minor worry to Amerl- can business, brusy planning for the expected 1959-80 boom. President Eisenhower said al

"Positive signs of inflation in his pres

that he the Immediate future conference would

fortunately most of the new

sold 0.5. Deinocratic members of Congress tween," us "among the spender and promised that he would "fight this as hard as he can."

closa

Greater Federal spending on "welfare" programmes in housing, education, community faellities, water and power re- source projects, aid to depress- ed areas and water pollution control was seen by exports in defence spending, which already is very high. Eisen- hower in his 1952 campaign had promised to pare the na tional budget to around GD- billion, but his administration now is close to the 80-billion level; the national debt is at a Wugh and the celling has been legally lifted to permit opera- flon of the government.

This larger "welfare" spend- have un infationary but its proponents

Another way in which the machine is being used is to facilitate the making of geogra- phical Surveys

bry analysinging may serial photographs and IL 18 also being used in the calcula- tions associated with the design of aircraft.

Outstanding features claimed for this computer are the flex unit, so that heating is limited fullt of the programming to about six

of web method used, its large memory inches

cone store, and its mechanical design. travel. By switching

The exhibitors are of the heating elements the

also dis- number necessary degree of heat is ob-playing a

other of tained, and each drier can equipments which when used in produce a web surface tempera: Association with the computer ture of about 120 degrees C. will increase the range of Its use.

(Standard Telephones above ambient temperature.

Cables Ltd, Connaught House, IONISATION

Aldwych, London, W.C.2.)

Printing,

After

the web passes under the static elimina- tar.

which operates by the Advance In Rotary

developinent of a high potential

between a

fine wire and a

grid surrounding it, resulting in Screw Compressor

lonisation of the air.

The web then passes over a

and

pressure

few and far

CITY LIGHTS

- Who will second Miss Larue's somewhat fatuous proposal?"

period.

Dollar stocks all did well a that Blinds the sellers to take to £86 5o. and Daltons 14 per

after back the bills a short cent Treasury Lodn lost 21/3 reflection of Wall Street's con- Old Consols were down 171⁄2 tinued buoyancy and continued shillings, On the whole the reports of reviving business short-dated stocks did better. The activity in the U.S.A. undertoție of the market in gov- erniment Issues remained firm but

COTTON

FUTURES

SEESAW IN NY

argue the opposite, providing Under Secretary Julian Baird. income base of employment for "It is a misguided notion to be now-unemployed men, giving lleve that rizing prices are in-

Baird Bald that the! them income to bolster the evitable.' health of the economy, and re-only place where inflationary moving them from rellet rolls.forces are noticeably at work at the mement is the money maz. Although all sectors of the ket, "where there is strong come business community are agreed polition funds at this time.”

has ended that the recession

Corporate proßts in the US. Smajl oporations were centred and that great prosperity la due are steadily working their way mainly on evening-up in the pre-recession Iovels December delivery before fast in 1959, It was plain that tho back to recession affected the voting For the third quarter of 1958, notice dayNovember 11, and

profits for this week.

512 American co the Government crop report to porations were 0.2 per cent be issued on Novermber 10. under Protest Vote

the 1857 third-quarter figures. In the first quarter of Some areas, such as Detroit this year the corporate proflig and the South Bend, Indiana, were 38 per cent under 1857 and area where the Studebaker and in the second quarter they were Bendix, plants, have had heavy 810 per cent under last year. layoffe of men, voted solidly Twenty-six business categories Democratic in protest against were represented in the 6t what the people thought was companies, and in the third disinterest fri their unhappy quarter 13 of the 24 reported

water-cooled roller to the reA TURTABLE zotary scrawconomic poslilon on the part of gains over 1887 gires,

wind unit,

compressor has been the Republican national adminis specially devoloped in Bri- | tration. Each reel-stand carries two Pain with built-in pressure† reels off polythene sheeting each ratio and axial flow charac- too, despite high farm Income There was farm discontent, Independently driven, and the

Known as the which is estimated to reach teristics.

weight machine delivering

complete changeover from one

Total capital spending in 1958

is expected to be at a level of about 82-bulan, 15 per cent under the more than 38-blon spent in 1957. For 1999, sur- veys show that Amerienn busi-

reel to the other is operated Rotair it is a compact light better than 10-billlon this year. ness has definitely committed it-

from a controlled panel.

reel

almnest exhausted the

The tarmers tear that prices celf to only a 0.6 per cent ris At the unwind end, as one compressed air free from will drop again soon, due to over 1958, but most experts in sure that that bumper crups and to ever- this held are The compressor consists pressed, ard the recl-stand

essentially of two helical Ruted which steadily produce larger the final decisions as companies rotates slowly, until the second intermeshing rators mounted and larger crops even if the note the strengthening of the reel, prepared and pastod, has in one casing. As they rotate, weather is not perfect, and must economy in the last half of 1938 been brought within a short die air is drawn through the inlet of them want better federal and decide they had better plan toncé of the web. The reel-

The for boom timen in 1959. stand then ceares to rotate, and port to all the interlobe apnce government

The air in then trapped and Democratic Party has several the reel turns about its spindle compressed with a progressive plahs for farm price support, all until 12 attains the same peri- reduction in the volume space pheral speed of the web.

"prepare to paste" button is depuisation, suy the Company: improving teclmiques of farming figure will rise appreciably in

EMPTY RÉEL

guarantees,

four thic

FRENCH GOVT

Gn

until released into the discharge port of the

compressor. The malo rator, which has These speeds are automatical", lobes, abarbs nearly all ly fixed, and when they are both power required by the the same, the "cut" light shows pressor,

panel,

The feinale

com- rotor,

In

which has six lobes, functions LOAN TO UAR

up on the control mechanical catch is tripped by as a rotary valve resulting

a continuous piston effort.

hand, the web in brought down

on to the pastel reel, the join In this portable application

made, and the empty reel eat

free by a swinging knife.

high efficiency is claimed in a

single stage by the use of coil

At the rowind end, a similar cooling which results, without

the aid of inter

and after operation is undertakeZI

air delivereù tem- Speeds of over 400 feet per colors, in ninute, when printing polythene peratures at least 100 degrees F from Alm or flat tubing, have been less than those obtained achieved, and even at ila high conventional compressors. speed, colour register in main- VARIETY

tained without difficulty, (Beas- The group'A rotalc range, loy, French and Company, Lui, | giving outpuls of 135 to

000

Volo Lane, Bedminster, Bristol edm, will employ a variety of

3.)

diesel prline movers. *

Increased potatonal #pecia have resulted in a high Pir-

EXTENDED

Economic Signs

New York, Nov. 9,

.

With sterling firm, the gold and dollar reserves again in- erensing for the 13th consecutivo month and government leaders Ilko cheer leaders whopping it up, Investors needed no leading by the muse to jump into the industrial edullies market. The ordinary sharp Index of the weekly. "Investors. Chronicle,” rose to an all-time high record sines the index was first con= plied at the beginning of 1924,

Previous High

It now stands at a per gent above the previous high, estab- lished Colton futures this week seesawed indecisively over a narrow

in June 1955. However, this week has not been a pudden range in a holiday-shortened period of four sessions.

boom since share prices have quities At Friday's close the ist interest In December approxi-(possibility of eventually raising been rising in the

after market steadily month 150,000 bales at the minimum price supports.

month since theks low point fa ruled off 20 to up four points, mated

The Financial Times or $1 a tale lower to 20 cents weekend.

However, the latter probably February

of industrial ordinary a balu higher than the preceding

New crop months were re- would be deterred until after index week.

4

the 1959 crops since the lust shares still has 81⁄2 per cent 100- latively neglected. Offerings in

a farn pro-way to make up but this is a

the Investor, far forward December around Congress passed the 31.50 cents line by spot in ramme for that season, unless dally index and ferest put a chill on buying sume ainendurcats were adopted Chronicle is a monthly.

The inquired sections of the interest in. that section of the immediately after they convene list.

in January. However, this ap-market this week, and for some peared unlikely to some quse-time past for that matter, trave tery because of the limited time been breweries, television, food before planting begins in early and tobacco, provisions, radio Betions of the cotton belt. and retail stores. Those that are not going so well are the heavy Average guess among 37 mem- Industries chicly devoted to the thebers of the New York Cotton Ex-export industry. These have lost change was 11,804,000 bales, ground on the stock exchange highest guess was 12,600,000 even it they have not la the in- and the lowest 11,802,000 bales,dustrial sense. The automobile -UP.I.

Industry, for instance, has 'bren the mainspring of the export trade,

yet its shares are "208 lower than they were in June '

Liquidation

The market showed little re- sponse to the election returna Spot Interests absorbed De- Market analysts thought the

İlquidation against next Congress may lean to cember sales of March and May, supward the liberal side from the

freer of posedly to transfer, hedge posi- standpoint.

surpluses, and tions forward. The outstanding pool

STOCK

TO

of

SOAR

RECORD HIGH

New York, Nov. 9.

dis-

Bank Of England Statement

London, Nov. 9. The Bank of England stule- ment for the week ended Nov.). 5, read as follows:

Sterling Notes in circulation.... 2,020,051,113

Stocks soared to a record high this past weeks. Prate depot******** „Goverment Securitiem

Receipts

Market men said investors were scurrying to other recurities get into the common stocks as a hedge against Ratio further erosion of the dollar.

Big Session

the

14.295.478

BJ

suffered The market in offe like gilia by being overshadowed by industrial equities and most of them fall back.

.

Gold Shares

299,094,197

Gold shares opened the proble 201,004,970

14.060.970 a fairly dull note. Midweek- 30.223,022 a minor rally occurred in some of the principal shares, but for the ribst part it was a üürket of small fluctuations. Diamonds were quite, well supported all } week. **

Bank Of France Statement

The Bank of France

Copper shares were helped by the rim in the commodity prico and the end of the gtrike on the stale-hedesign copperbelt. Tin shores

Patls, Nov. 9,

Beralt. Tin and Wolfram follow

14. Ing the optimistic annual report,

Third quarter gross national; products were estimated at. 440-: The inflation urge of a now Monday and 3,700,000 shores on billion, about the sume as 1960 spending and a huge budget de- Friday.

Automobile issues continued adjusted current doljar fielt was seen as more than off- baals, and the fourth quorter setting a pocalbio Democratle to provide the biggest market may mach 450-billiar

drive for bigger Government volume. Several specials were All of these healthy economic business legislation and tax re- given a whirl on activity. aims will remain unaffected | duction,

At the close of the week, ment for the week ended Oct were firmly inclined, particularly by the new political complexion.

Industrial Dow-Jones Key congressional and Senate

average stood at 154,26 up 10.04 30, reads as follows: committee chairmanships reminin

points on the week and up Total gold holdings 247850 200,490 and tho advance in the price of in the hands at conservative

"Last week, trading pleked up 12p.14 points from a year ago Total oking turkey the southern Democrats, and

and tickers ran late at inter-ralls 101.30 up 3.24 and 1.01 administration temgina BB-

an much vals, sometimes,

as respectively; utililles 84.03 up Sight balance abisid publicns for the next two years, four minutes on the last scerlo 0,03 and up. 19.20. Dad sa Adtance to Stabilisa- Calro, Nov. 8.

will serve These factors

ESTO tion Fund, a The French Government brakes on the Uberals in their The bly session was on. This stocks 101.82 up 2.53 and 45.21. Sales for the four-day week has extended six billion drive to increase governmentat doy when 4,880,000 shares turți-

averages 3,980,038 shares daily franca credit to the spending on the "welfare" pro-ed over.

Bales wero moderate in the günst 4.167.815 dally in the United Arab Republic to grammes, and while toerna

certain that there Will De Arst and last sessions of the previous week of five sessions. buy imports from France, greater uld to education, hous-week - 3,240,500 shares the newspaper al Ahram reported today.

The newspaper said France formance hitherto depled thehan opened the credit at the francs to the Egyptian pound pressor. The vane type rotary compressor normally runs at (about 2.60 dollars),

A1 Abram reported the UAR importa from France will include machinery trucke, fertiliser and other non-luxury items,

Keeping A Car Tidy slower speed reciprocating com- offelál rate of exchange, 1,900

PLASTIC Hold-all which will direct engine abded but The Accommodate Auch Item Rotair is able to function at which clutter the inaiđe of a more than double the speed of of periodicals, newspapers, the cherei engine, with the use vacuum flask, maps, duides and of step-up Rearing to give to on, has been designed in inaximum, compressor speed of Britain.

s

ba-U.P.I

cies

fa EPU

cand

10.135,705.783 14.12.200.000

Wolfram

►

Rubber shares continued firm despite a fair amount of prošli. taiting and gains of one shilling Total buladiacented 2,093,088,178,045 were fairly canon-UP.I. Banknotes in circula-

tion May 3,202,827,618.075 Current accounts and

"Ceposlis

BRUNEI TO GIVE

AMERICAN COTTON GOODS MARKET MALAYA LOAN

the matket, traders relves because or sa Impression (mill determination to hold the 1 from

that rer cattop prices next reqf

Kuala Lumpur, Sips. 9. New York, Nov. 9.

estimated.

The tiny pil-rich, Bato, of Most of the business this may be lower-perhaps by two Tho cotton grey goods prosent pricy Brak

11 goods continue to tighten,

·Einine, British” fórnéd, has market showed quiet and prices becoine attractive work centred on spot and near-to three cents a pound.

Sales var spinners repertoireed to give Mateya a luan at Cominczelal qupplies of raw strength this week when enough, one silice committed, by goods.

| #(BC) 100,000,000,

This was fatihduneled tohught buyer Inquietes, particu- "producers anxious to fatten up larly for print clothe, the order book will soon forget cotton are expected to tighten a fair amount of how busines about the five-day week, and the increasingly because pr the being transdated for delivery in

sha Maayga found a diminishing up holiday vagations, and return to huge amounting under the this quarter with prices folding by the Government of nel

steady to firma. ply of goods available for the pix-day," three shift eche-Goverment loan propramene

Hard fibres featured strength) The Malayandovernment dule."

Bince Lite season on August 1 the rest of 1958.

Bo for, 14 organisations, producet have put 1,800,000 in hems prices. Next week and statement sesid the Deputy The whole market complexion operating 64,000 prill 160min, | kalan utkler the loan, or 309 per T. 15, Navy is expeclei in alt Evane Minjeter, Dato facut int here announced" pikné, to jahut | cent more than imponindings to for Indy on 2,000,000 Toutids: tiffamate, and the: Finsnen Mihi- uch an agreemont and giyer appearest to, be changing

rope.bufe br the international | *c) Hit: Haney Haushik "Lee, outstanding financiat quation, favour of the molars brokers down, for the phenängiving and the same time last newman.

Whip, mills were caulique trade in slegs dibres Involved] vidia no to Brymai next Saturd Al Aigam sold, "no limit will thought, om deramul of the pro- | Christmas worked blo, Wald be wit" on French purchases at (ducion curatintont proprement, Milmasin, ang Kommates" 45,000 - | about; future pulen, burners were African and Brasilian Predke ki gan, ka kalarus is terme or the

Kaplan cotton 2U.P.T.

initiated some time ago," and 000 to 10,000,000, 2ards of 2001, equally slow to commit them steady price), UF

The report said this was an Interim arrangement pending the coneltion of a trade agreement Between the two countries.

be

A French gestiomic délégation

4,000 rpm. This now accessory is Alted The compressor E u

The Pubile with a polished chrome cilp demonstrated at enabling it to be hung on front Works Edibition which opens of rear of the driving or At Olymplet on Hovember 10,

Cam pastonger seats. One of Ita Holman Brothers Ltd, pockets holds a box of Usques for bars, Cornwall, England, demiriing windows, cleaning towing arrangements with hands or meals. (1shtolis 140, 71mi Huwien & Co Ltd., Sicut

laid street, Ola ow, Scotland. Queensway, Ladilligton Bija.)

is at protest in Cairo nego(latlóg

Yogiu mater.