1958-11-13 — Page 9

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TRANSPORTATION

SAS CONVAIR 880 JETLINERS

TO FLY IN 1960

THE

IE 600-mile-an-hour Convair 880 jetliner-

which Scandinavian Airlines System (SAS) · will introduce on intercontinental routes in 1960 -will fly for the first time in January, 1959.

11 Best of the swept-wing

at will roll of the Convair

sembly line at San Diego, Cali SMALL JETLINER

forma in December of this year.

I will make is maklen flight

the bellowing math.

it

SAN WI lease iwu Convale 18:05 from Swiss uedee a new Red by the twa The two moumpantes Jave a joltot opton on six

Caplers

Canvar 198

The Canva

FRA Auto

techung-to-ling

TO REPLACE DC-3

London. THE Bristol Acroplane Company is designing a small jet airllaor specially SAS for Commonwealth operators sules using small airfields.

180

will

start

range

toward the end of 133150

ALL-JET SERVICE

It will dy the Far East-Europe)

herte route via India and kistan That means it will connect in Round-the-World all-jelser. Vice with DC-es nying SAS' Far t-Etrop short cut over the South Pole SAS Be ordered

Commonwealth airlines'

Farti prover: Latavu ul The borough air show in September unt V are Sali 10

complumest that their requirement; rarely met by British torturers,

いよい

NAU-

1tar

European

As a result of this and fact that another jet design wan turned down by the big state- Alr. wayn, Bristol's plan to go ahead with a completely new maraine to serve as a logical replacement for the C-3. sch

DX-8 owned British 50)-mille-a-tur

The Cravaty 180 also will go uservice on SAS routes to

Africa

South Anserted.

Powered

Soup

futur by

General Electric jets, the Convair 880.

will have a maximum rauge ★

of up to 4,000 stalute miles, Bly at weather-free altitudes between 25,000 and 10,000

★

Teel.

will next 83 passengers in!

SAS combined toarist cla veraton.

ردد.

first

and

will mcastite 129 feel

120 feet in length. from wing-tip to wing-tin. with a wing arra of 2,000 *quare feol.

SAS present modern feet in- des another Convale product

Sar Matthew Hristal's chief.

visiting Slattery, is at present the West Indies in the hope of interesting British West India

subsidiary # BOAC Airways, which is losing money, In th new jet,

THE CHINA MAIL, THURSDAY, NOVEMBER 13, 1958.

Operation Re-Expansion In The West

น

HONGKONG Profit-Taking On New

STOCK

EXCHANGE York Stock Exchange

Our Own Correspondent

kong Stock Exchange this morn- Ingeniounted to approximately $270,000. Noon quotations and

New York, Nov. 12.

Business done on the Hong Profit-taking around the end of the first hour made in- roads into early gains, chalked up on heavy volume which kept reporting tickers late off and on through the first hour.

the morning'a transactions were:

By SYDNEY CAMPELL

London, Nov. 12. What the Chancellor calls "Operation

Re-expansion" is going great guns in BANKS

the nearly all

Western industrial Bank countries.

Shares Buyers Belers

映画

245

3 e 143

INSURANCES Viton XD..

T21

14

100 100

Wheelock

In Britain the Government is playing the new ex- Lombard

pansionism by ear, and with political adroit- SHIPPING ness. It took only hours to vindicate the view expressed here last week that there were very good prospects for expansionist British polick cies other than a further cut in money rates. LAND, ETC. The results bid fair to be explosive.

great North American of the loal te- The removal

The example may not be wholly stiefmus on consumer credit s

of the ket on the devotees Intressed by various other ex- paasedust prospects in the new Easter alternative system which deliver has shown that it can session of partfament.

almost everything else but suli does not deliver these goods. China Mail Special

eve

of

3*;

the session the Government acted

tably

private expand purchases of consumer goods.

11

The

the

bank

At the end of lobor Cancellor was saying that removal of the Hurt advances und had "conseqarners ! took a great many people by surprise" and that as cheap-

er and easier money gets around

we shall begin to see the em

Hire Purchase

kury

Removal of the bd onL purchase has anteased damped- +14w 11 Torees, with consequence that juive dueady surprised the scepties who thought there would ith the much change rest be ground that traders would apply. the curtis for their own sake, Chal the hireuterals no longer needed for their general disin- flationary pulley.

Instead, there is a free-for-all which begins to audify for the funos Artigon description of

You pull the Ettish plumbing thing and nothing happens, you Sell breaks anti

a short-range B.W.L.A. seeds. jet capable of operating off smail alhields to ensure profitabl

Fran highly sure of traffic in the competitive Curribean Brea China Mall Special.

NOW AIR TOURS

the short-range Convair 44 ON HP PLAN

Mr-Jat

SAS a 20 of

Amitters.

These intim-powered

In operallo20

HUNTING

Together with the 14-8 and TUNTING Caravelle jets SAS has on order for 1959 and 60, the Convair 880 will make SAS one of the first a complete anhires to uperate jt flest

Foreign Trade Figure Using British Parts

THE

THE total not tonnage of shipping in the foreign trade entering and clearing British ports with cargo in croozed scasonally in the second quarter of 1958, but was only slightly above the total for the same period of 1957.

Salisbury.. Clan Airways

From Britain to South Africa; Rhodesias and other the ports of Africa-with fares payable under a "chase" scheme,

"hire pur-

FU

T from

The meline's chairman, Mr P 1. Hunting, sind here that such toura woul develop Plass of passenger traffle among the middle income per

and Europe. ple in Britain

Hunting Clan set applied for evnces to operate the fours and planned to my pressurised four-gined Ameri

en X alteraft,

ready

XD

DOCKS, ETC. K. Whart Provident

3.33

5.4k

#215

11.40 11.60

were:

closing averages Dow-Jonca

567.39

204.09

U.K. Faces

20 industriala

Initially, there were gains of tractions to a point or more in later dealings, most groups, however, brought realising 1002745 which cut American Motors 13 klocka

200

2 points to $30% on blocks of 0,000 und 10,000 shares, und pared many other gains.

Some of the recently strong chemicuis und drugs gavo ground. Du Pont dipped a bit HK Hote!.. 21.20 21 40

21.30 Merch and Polaroid lost over a IX Land

30 3315 1400 3014

point. 141

1.0 4000 or 1575

1.77! 105 1.03 2.34

FUHIKER

30 123

Lockheed, points yesterday split

proposain

upside leader,

230 29.20 lost three points. Zenith lost 191⁄2,

atlled Mille lac.

rum. 1.) Co Cat Tractor

Сол.

85.71

Criticism

In Free

Trade Talks

Paris, Nov. 12. Britain enters crucial talks on the free trade area to- morrow

20 rails

35 ilities

106.10

40 bonds

06.40

Com future price index

154.40

Closing Prices

び

A. Drake Shoe

4211

An Cable de Radiu Corp.

Amerlon Cyanamid Co.

A. & Foren Power

Humphreys Reaty

Ain. 'Kome Prod.

100%

centres,

#p

Ave

Amarig Trut

A. Tawab

two

Bungals UTILITIES Tran

points today.

Am. Mach. Be F'dey. over

Au Sugar Hef, ........ on ite stockinwin-Lima-tiam.

Elix Aviation Comi Inst

Airplane American Chiele,

24

Clit Packing Corp

00%

criticism

24 23.34

150 23.30

unother recent

Campbell Soup Lu

30%

2014

Common

91

Stor Perry

107

214 Fr 100

after being higher initially

20

Yanati

BOL HOLY

57.

Electrle

Ight

17.10

17.20

1000 m 17.20

24.70

100 + 24.30

63

Tel

23.00

24 1100

INDUSTRIALS Cement

#31 23.30

3425

Dummond Alkal

45

100

25 60

New highs

Dunand Match Cu.

3224

Aray Can STORES, ET Balay

40

Dow Chemicals

El Pane National Gas

Tolly Finance Corp

30

18'. 1540

4013 70

15 2000 1100

Firestone Tyre & Rubber

Gen. Tyre & Rubber

Grumman Alecraft..

| Nayeng

7.03

(per sit

5 17

Sterling notum iper 20

18 DE

Ca. Ent

17.00

Australian notes iper El

12 03

INVESTMENTS

Indonesian rupiah (per 100,

1) 70

Heyden Newport Coru miland Steel Co. ... Isturehomieni Corp.

544

int. Lav

J

Siam tical per 100

27 00

K & TE

Singapore (Straits)

1.20 1

Inverl

3,20

50

International Paper

121

John-Manville Co.

30

Kaiser Industry

#geit Meyera Tub Co.

7012

Lowenstein & Sonn

161

tebeen Ray

4014

Sel), abell

40%

Exchange Rates

the Busine 1 dune tral

vxwe Market morning at the following antes.--

US

dollar

koen!

this. Law

COTTONS. Textile

MISCELLANEOUS

300 u

Later in the day the market [ 1. T. Financial Corp.

Clusti l'embody closed with u

1,252ombian Carbon Co.

total ut

23.00 23.40 advanced. 495 declined and 228

held unchanged. wero aet by 188 stocks and new lows by six.

Issues traded out of which 529 Continento! Qil ut Dei.

York Stock Exchange New volume was 4,440,000 shares

Stock New York

Exchange bond volume was $8.120,000,

American Stock Exchange volume was 1,490,000 shares.

U.S. TEXTILE MEN CALL FOR

TIGHTER CONTROLS

ON CLOTH FROM FAR EAST

New York, Nov. 12.

In suber earnest, this British Two top textile industry spokesmen today called for tighter, government controls regulating the flow of cloth and garment imports, particularly from the Far East.

more

unleashing at consumer credit is more sweeping and has stupe thom the American relaxa- tion which brought the pheno- consumer tena on US. durables in the 1955 ear model himself The Chancellor year ev.rently knows he has started something The eventual

prob- lem will be how to stop it, but that does not arise yet,

Dramatically

restoring

tu the

fys dramatically the competitive principle banking and hire purchases British are

having t

mucti short of un pennomke revalua- bon, and naturally under a Cons servative Government

WA!

In

Ca

Its inediate impacts are on internal policies and economics, but it has

international aspect too, as witness the Chan- cold cellor's remarks about the

Song N

contest with the Communist blog is con-

moduction of finext wealth it y

good. This competition is ending will atal we cannot contract mul if it

We in the free world Jammer vil most powerful of political mi tives for maximising GUT OWN industrial effort, and no one should discount the imphet that in the ceonomic Acid,"

Mr Hunting mid. The tourist who can Dui down

£20

and get his holiday in Africa can pay the balance in instal- ments over 12 months."

Not tonnage of Commonweaith and clearing vessels entering with cargo remained at nearly holiday

the same level as that recorded ple, would be about

a year ago, about 18.3

million

Total cost for a two-week Rhodesin, for exam-

£235-k more than the cheapest retsen the route ot pre- Indeed.—China Mail

he

ns. The Commonwealth pro-air fare on portion of the total net turmage sent, with cargo was 50 per cent Special.

ainst 57 per cent in the same

veriod of 1957.

Forelun vesels entering and AIRLINES FORMED

clearing with cargo showed an

increase of 4 per cent in tonange

uver the second quarter of 1957. IN WEST GERMANY

lo 14.8 milion 100s. The ton-

of Panamanian vessela

ange

decreased by

cent to TWO shipping companies,

the

TWO

40 per 622.000 tona net.

Hansa, of Bremen, and Arrivada with cargo in

trade increased by the Homburg interests con- Conting

cent, to nearly 10 di trolled by Herr Otker, have

per

ans, while departures rose by announced

3 per cent to nearly 9.8 million

tors.

CARGO DECLINE

von-

separato turas in airline operations.

OF ONE PER CENT Between them, the two

com~

Herr Oker's alr company, Condor, will co-operate with Deutsche Flugdienst, a sub- sidiary of Lufthansa and the German State Hallways, |charter and tourist services.

nmics own seven Conynirs an MARGOS loaded at Cana- three Vickera Vikings.

fans will start operation dion Customs parts for with a weekly cargo

declined about between Frankfurt Beirut por cant in 1957to 49 Bagdad.

overseas

million tons from 1956's vò-

cord total of 49.4 million

tons according to the an

nucl shipping report.

service

Giant-Size Ferry

London,

ne

+1

#{

Japanese arrangement | retail Robert C. Jackson, Executive (the Vice-President of the American brought a gembiance of order to Cotton Manufacturers' Institute, the impurt pattern, and that L asked for government resistance has operated satisfactorily to reported Japanese efforts to for " Increase textile imports under

control

programo effective two years ago.

50

However, since U.5. cotton made textile production is down

the past, per cent over

13

two

the

two

W. Ray Bell, President of years, it would appear within the Association of Cotton the spirit of the programmg to Merchants of New reduce the total quata for 1959," Textile York, Lermed "particularly Jackson testined.

growing dangerous", policies of foreign countries. especially in the Far East, in shipmeals of cotton Increase carments here.

executives Both before a

that after Beli noted years of operation the 235.000,-

000-yard self-imposed Japanese quota on imports to the United States, which was to continue testified for five years, now is the sub- special Senute Inter-jeet of proposals from Japan for sinie and Foreign Commerce in increase of some 18 per cent.

subcomunittee.

here today.

"Most U.S.

which

opened

textile industry

prople feel," Jackson said, "that

HK SHIPMENTS RISE

counter

General Dynamics Gen. Pap. Uu,

Suit Oil

Aircraft

Stock Exege) Mecabi Iron Carp.

Moman Chemical Co. Motorola Inc.

National Biscuit Co

faced

with

by the 6ix Morket coun-

tries that she is trying to force them into quick decision on the project. This was the general opinion In Conumon Market quarters here tonight on the eve of meeting

the u!

17-nakin

2

Maudling Commitico which

will strive to break the dead- lock in the free trade negotia- tions.

Thess

soutes

sald Britain

! was maiding a tactical error in to the wall" "driving France

เม expressed irritation at what is regarded as a British Press campaign of intimidation to bring pressure

France and other members of the market--West Germany, Italy, Belgium the Netherlands and Luxembourg.

on

A movement to make Britain's 48 Imperiat Preference Arrange- ments a central talking point at the meeting was laking shape here tonight

National Dairy Prod

National Steel Corp. Norfolk & Western Ry North Amer. Aviation North-west Airlines

7445

ti

rcom.)

20

Penny J. C. Co.

3314x4 101

Olin Mahlerun

Oxford Paper Co.

Penn Sall to

Philly Morris

Procter & Gamble Co

Publicker Industries

Pure Qil

Radio Cap. Pret.

Shell Of Co

Shint eg. Paper

Bolar Altcraft g

South Puerto Rico Sugar Southern Co. (The)

Southern Railway

(Com.)

Tide Waler Aash. Ou Time Inc.

by dollars per Tri-Cont. Warennia

grment,"

Bell also called for a change in the two-price system of raw cotton markeling fostered by He noted the the government. government solis cotton to foreign countries at six to eight cents a pound below the sup- part price here.

Cotton quotan har access of U.8. mits to cheap foreign cotton, "but the law permita this re Rain American cotton and low priced foreign cation to enter this country freely in the foran of cotton yarıı, cloth, apparel and made-up Foods,** Bell declared.

ino govern- conceded Bell Other countries on which no limits are imposed are in-

ment does provide an offsetting

for compensating creusing their shipments here. payment

Bell

costs on continued, | difference in cotton "Specially."

U.S. exports of cloth, which stone 19

In- sustaining the dustry's dwindling exports.... U.P.I.

Agreed Merchant "Hongkong Imports of cotton

--Rates

Maximum

Swiss Francs Maximum Sell- Ing 75%.

Malayan Dollars, Selling 52%: Minimun Buying O/D; 53% 53% T/T: 53 3/16

Western European 30 days; 53% 60 days. It the countries as a whole, not Britain

great latent

alone, that have scope for consumer durables and are getting a move on in field,

goods to the United States have risen from US$670,811 In 1956 to $5,762,897 in 1957 and $11,000,000 in nine months of 1958."

In the nine months, Bell con- tlaved, Hongkong has shipped dozen cotton shirts, 345,000 602,000 dozen blousen, 321,000 brassiers, 81,000 dozen pyjamas and large quantities of play

the U.S. that De La Rue Dividend clothes and other garments

In Germany the Western com- petitive principle bas heen show- ing its paces for years. If it can now deliver the consumer goods

centres in its European dramatically as it does in

as

The

to

For

Etat," he said, "pyramids ita low labour costs at several levels of production, and where it undersells Ameri can cloth by cents a yard, it Mall undersells the garment trade by dollars per dozen and on the

London, Nov. 12. De La Ruo Limited has de- clared an interim dividend of five per cent, less inx, on-in-

capital-China creased

Its Special,

China Textiles Threat To Japan, U.S.

New Orleans, Nov. 12.

Three Japanese members of a trade mission visiting the United States and Canada today issued a statement warning that the increased de- velopment of the cotton textile industry in Communist China was a serious threat to both Japan, and the United States,

of 1067 to 030 million yarda la 1056.

Total Japanese cotion textile

Takeuchi, Managing Sinoo the United States cur- exports to Asla decreased 100 Full Spinning rently supples almost half of million yards, from 437 million

yards in the firm half of 1957.

Trade with the United States only enn be expanded on mutual basli, the Japanese businessmen suich

The Japanese textile lenders production to the Amorlean holl are Mr Yoshiyuki Oknjima, Mr level.

Tetsutaro Director of the

Úsaburo Co., Ltd., and Mr

the free world cotton. this Yoshida, Managing Director of would be serious compeition C. Itoh and Co., Ltd.

China is at present exporting They pointed out that in the Increasingly large quantities of last Ove years, raw colton pro- cotton fexile products to Aria, duction has increased in Com Europe, Africa and Australia, ai Londinge rose Il per ocnt al

less than Japan, the Paelle const ports to 10.8 million E Bardie ferry, first ship munist China from about two prices tons but fell 2 per cent at bult in Belain to carry million bates to over 7,000,000 latement mich

"One reason for this is and 10 milliont

that balen in 1957, Atlantic and Lower St Law- fully-londed commervfál vehicles

Japan has continued her policies rence River porté le 31,2 million direct from the

baler in 1950. Continent, tota, and per cent at Great arrived nt Tilbury in the River The Japaarse lcxtile business, of buying American raw collon Lakes and Upper St Lawrence Thames from Antwerp to open amen urged close examination of end of not selllag loxtile pro-Importers and retailers in New

Com-ducts to Communist China," Iliver ports to 7 million tona,

the ecunomle life in

It continued: "Thus, Japan's Chicago, Montresi, Toronto and munist Chlon as compared to!

cotton cloth exporis droppert 09 other cities visited by the group. the United States and Japon.

flest all reported hagvy American They and that the current million yards during the

Chimer ve year aix months of this year, from contumor demant for Japan

yards in the first quality merchandise-Reuter. plan" Ja to increnso raw cotton' 095 millon

| regular drive-un Cargoes unluaded from foreign vien with London. comtrien declined 4 per cent in The

2,500-Joti

the year to 30 million tone from carry

drive-off mer

ferry to 90 Uu

comunerelai the previous year's all-time high vehicles and 66 passengers

China Mail Special,

of 40,0 million tons.

can

| Communist

In 1987, Japan bought $1,200 intillon of American goodh nnd noid half that amount of Japanese products to the United Staten.

The statement noted

that

York. Washington, Elonton,

The Common Market believes that these "privileged markets" 74% might upset the balance of com-

petition between partners of a free trade area.

41

7145

+376

182

Steep Sl

Rock (Toronto Exgo.)

134

31%

0:0

31

Twentieth Century Fox Film Union On of Cal

K

Bolted Gon Cup

Westinghouse Air Brake

704

UPI

Auto Workers

Recalled

New York, Nov. 12. Two factories in Lansing Michi- to General can, belonging

will

1,400 Motors

recall workers by the end of the sald mouth, company ofolai Today,

10

1

The als are expected to pre- sent Britain tomorrow with the alternative of either extending the Imperial preference systerü to Europe or scaling down the

scope of

Reuter.

such preferences.--

London Prices Firmer

London, Nov. 12.

Stock market prices were

firmer on a broad front today.

Gilt-edged securities staged a strong rally und although prices. heid,

most

higher balance

On

were

British Bank of the Middle East

more than six shot up shillings on talk of a rise in the dividend rate.

Industriale were fractionally Oils Improved under his.her. Wall Street influence and the leaders closed with gains up to three shillings,

be recalled About 700 will

oldsmobile the

division's plant by mid-month nasembly winging the division's Jabour force to around 11,200.

The mume number of workers will be taken back at an ellied Fisher body plant by Novem-

apployment Copper ber 26, bringing

U.P.I. here to about 5,600.-Reuter.

Gold stocks were higher.

Issues were Arm.

COMMODITY PRICES

FOREIGN EXCHANGE

Closing rates were:

England officia Australia

rubber unbajad

No. 4

Spanket crepe.

No. 2 nabier per lb. Nov. 63-0915

Feb. B3-001 No.

Zino ist halt Now. 001-003 92-1/2 775-1035

Lead let half Nov.

1016

70%

101%

7016 Jcb 13%

-U.P.I.

03-65

WAT

No. 1 pale erege

LONDON

'The rubber market steady with spot quated at 26

11/16 pence per lb. Priecs:

NEW YORK

No. 1, Bus gpol

2011-2624

Bettlement' hours term:

2.09%

Dec.

2016-201

2,24

3:03/Mar.

2P-27

2.79

Apri/June

2011-275

July/Sept.

Delfine.

210

2107

New Zealand South Africa

UTUKUDS

India

Pakelaa

ers unchanged.

LONDON

Cloring rates were:

New York................... Montreal Ainaterdam

Frankfurt

Parks

Stockholm Zurich

2.00-3.00-11/10 2.72-1/10-2,72-3/10 20,5834-1078

139 504-130.07% 11.00-11.70

117814-1179 14.40-74.40% 1214-03%2

Other unchanged,--U.P.1.

RUBBER

SINGAPORE

General markets, cit Usals, ports Nov. Dec. sa fan.

Frtete eren in and

tack ri

2015-2016

20 nominat

AMSTERDAM The rubber market wad steady today. Quotations were tunchanged.U.II.

METALS

NEW YORK

Prices of metal futuros closed leday in cents per lb. as fclows: Lead Der.

Jati,

Zine

Der.

ነኝ.

Conner

Jes.

Inst,

Dee.

Jan.

LONDON

The market opened slightly below the previoim lovely, and Atemty with ruled quietly fluctuntione

mnall.

the In Afternoon iha market was bc- tive with improved demand for laws: Jorwert.

Futurea)

No. 1 rubber par ib. Nov, DIIL-227

Dec. 91-94

18.201

11.280

11.41

11.63

NO, ROD

$7.25

$7.00

30.109

Prices of metala closed today in sterling per long ton na fol-

COTTON

Cotton

LIVERPOOL

future closings,

In

pence per lb, were as follow:

Amerlean Contract Dre/Jan! 22.86; Mar/Apr 2260; May/June: 213 July/Au: 21.33:

Oct/Nov: 21:55.

Mixed Contract Dee/Jan: 230; Mar/Apr 27 07: May/June: 22.05) July/Aug: 21.70: Oct/Nev: 21.06.

-U.P.I

SUGAR

New York, Nov. 12,

World No. 4

Euge futures closed today. unchanged to two points lower with sälen of 157 contraeis.

Domestle No. sugar futures closed unchanged to two points lower with no sales reported.

Contract No. 4 (world) Jan: 40; Mar! 342; May:) 2.10; per the fob Cakiaj; 141: Open älter- July 31 Ost: 3.43 Spot-cents est: 1229 montrante.

Contract No. ɑ (domestio) Mar: 0.52: May: BTA: July: 0.56: Spot-teent per lb, et MY @x-duly}; 247163.55 Open Interest: tmavailable, re

U.P.1.

Th pot

Buyers

750

Sellers

ton

750

2

Cupper spel 3-meth

24010

24012

241

4 1.