1959-01-12 — Page 9

THE CHINA MAIL, MONDAY, JANUARY 12, 1959.

SCIENCE ANI

Weekly Survey_Of_The American Economy

ENGINEERING BUSINESS STEPPED UP

New System Of Laying Indication Of Rise In

Eggs Eliminates Nest-Soiled Ones

A NEW system of nesting which, it is claimed, eliminates the problem of nest-soiled eggs, will show in Britain a saving of is. 8d. per bird, per year, compared with communal nesting systems. It has been produced by a Devon firm, and is now being exported to all parts of the world.

This new nesting system received a sliver metial

worlį

at the British Dalry Farmer Mobile Loader For

Association Show in London

recently. It can fold at for exe

port purposes, this saving ship- Variety Of

ping space and costs.

The fir

Duties

Inventories Rather

Than A Decrease

New York, Jan. 11.

Inventories of businesses in the United States roge in November

for the first time in 15 months, the Department Commerce reported.

เก

#

of

HONGKONG

STOCK EXCHANGE

Our Own Correspondent Business done on the long- kong Stock Exchange this moming

amounted to appro-

ximately $448,000. Noon quota-

Stocks Rise

To New Highs In NY

New York, Jan. 11.

long and the morning's trans- Stocks rose to now record highs in the first

actions were:

Shares Buyera Ballers Sales

BANKS

810 120

72 1.7 N1250

304

20

HK Bank :- Following

nation-wide INSURANCES

Unton sempling of the opinions of 200 farmers, housewives,, business-DEA

Lombard union members

and

SHIPPING men, government workers. the news Watertigt. paper reported that few people Wheelocks

the DOCKS. ETC. ink a balanced budget to

K. Whart ight against inflation and rising Provideht 12.10 123

LAND, ETC. prices; and where they do, they

22.70 23 nothing listel say they see often

29.00 30.25 Hi Land wrong with a "little" more in-

nii 2.35 Humphrey 13.20 Bation.

Really. 1.475 1.925

The Infection that business- | scale plant and equipment men were again adding to their vestment programme. In the then Equidaling words of Prof. Willam Eagan of stocks, rather

Notre Dame University's college them, provided analysts with

still india putálale

commerce: "There is evidence that the of

the enough uncertainty as Teenviry from the recent reces-

used future, and enough ..n was well underway.

capicity to slow new expansion. clahn anat this A MOBILE loader, con-

The rise in inventories WEN At the same time, businessmen cptimistic are walching technological ad- hy less nesting unit will repay its full capital cost during its nest two structed of square steel tempered seasons of use, and they are tubing and with the belts in two other major 14-vances, waiting for the bugs to gredients in the private sector of be worked out of new electrical- investigating supported on rubber rollers

a business recovery--consumer Decatrolled equipment before now engaged in the ponsibility of appointing mounted on o flexible steel pending on non-dirable goods Laying down their eash." ngents in all parts of the world. coble, is a new piece of, and servlees, and home-buliding

With 5.9 per cent of the U.S. work force still idle m Novem- equipment introduced by a THE APPLIANCE

(the

latest government British firm. All the shafts

figure). end with many more and rollers are mounted in

families doing without the over-

which they time pay to

had scaled ball bearings so that

Becustomed. grown

consumer automatically apart from the power releases herself from the met.no lubrication is necessary.

As the bird enters the nest,

The appliance, which is built mainly of wood, resembles trap nest, but after laying her

CAK.

hen the

the alighting perch prevents a second

entering the same compartment,

The dexiole the sellers are designed to weight unit f

loses, and bud from

NOVE

and the

bred entrance, towards the

clour returns 10 t

a verily of

to vegetable

On leaving the nest, the

original position to sve as an

ogling perch for the next; bur to use the west.

Conformed

ان

זים!

گو

Inventories

The end November race to $85,100,000.- from unit. adjusted seasonally,

uf Ortober. The

erbale on y al mounted a make this a litt

are of handling ermerlilies that

wal from sond, peavel and

metal.

The manufactures claim 41

The Judo can be towed by

Al the same time, the floor of ¦ vehiele ur-przhed into

parition

Thingh it is Eght

the nest tile backwards mad by one man cearly to start work rently rolls the newly-laid anywher sofely in ment at the back of the nesting boxes.

a holding comparte | enough for such easy minecr

bing: it-seilt, they say, stand up

to you of hard work.

COLLECTION

Collection is made froast the rear of the applianer, on are only two moving parts used

in the constructum,

ADJUSTABLE

Te height

the jade ble ny

Each nesting unit rongista #dj:

change,

$84,900.000.000 rt the end

which conformed well to expectations,

was confirmed to retail inven-

Jocks teries, reflecting Higher of new cars sin dealers' hands.

Despite the pub-tantial pro- mess made a fe, the recovery ja viewed

tently as

being

and the item of THU NOGHA

various areas and recovery in we tries wil continue uneven.

Ange

15

spending for durable goods 10

alas, a question mark at this

Divergent Views

The Two divergent views on question of inflation

appeared of the survey. They were ex- pressed by Joseph L. Block, President of the Intend Steel Co. Chicago, and Joseph 7. Vice-President und Contre of American Expert Gruzi

them Lines, Inc.. New York. Employers have said selves that hiring of workers will not in all probability' keep_pace (› "The average with sales this year, and Ewan doesn't realise the serious peril Clague, the chief economist of of

point.

inflation"

the Federal Bureau of Labour Ananetal Journal. Statisties, has indicated that the

full week of 1959 in the most active trading since the Thanksgiving week.

The industrial average closed |ings for 1958, Industry stepped up production with steel output at 592.72 a new record high up 200 22.50 5.13 points on the week and st|al a 15-month high, cuto output

5,45 5,00

10 100

100 of 39

4800 4:30

15000 € 1.04 13700 1.87$

58.70 per cent of the 500 level. well above the previous week In other words it has only and a year ago, and most other Elatistics making favourable riso 1.24 per cent to make 600. That would mean a doubling of year-to-year comparison.

In 30 years. It Wall Street the, average

took President closed at exactly 300 on Decem- Eisenhower's address on the ber 31, 1020.

state of the nation in stride since most of his statements had been anticipated. Wall Street remains skeptical that the budget can be balanced.

A1-502.72, industrials are 1,338 per cent above the low of 41.22 1.00 10000 17 1.90 sci on July 8, 1932, the bottom of the great depression. Rails

American Telephone. & Tele-- Pro 130 per cent above their. low in that day which was a graph was the outstanding per- former of the week. It resched a new high since 1939 at $24042

RUBBER

Amalg.

1.676

Trusk

A. Tawah.. Sungai UTILITIES

Star Ferry Yaumati c. Light

2.50

27.20 27.50

100 02.30

93

35112.59

100 / 02.50

16.20 16.40

1000. 10.30

400

141

203

2000

400

15.30

Just

Block told the

Electric Macao E... Tel. (01

INDUSTRIALS cement STORES. ETC.

23.20 23,70

9.20

..

25.20 23.70 240 25.35 130 25.30 23.70 1500.se

30.10 1830 1200 -18.30

1500 # 10.30

13.70 1350 13.00

1.10

persan

Grazkun said: "We've been

log in employment may run into early 1900 despite rising produc-surrviving with inflation for the last 10 to 15 years. Everybody griping about it, but everything is better."

tion.

can-

which weak point at this

Iac.or

is

Spital spending. Economist, slii bush

the loader i Bydraulic jacki drive- ! tae petrol engine detic i can be supplied alternative-ensors 201

to nests, arrangeal on above i smonta vapil moveaient of the

the other, in two Tows of live.

each egg to

the

undefinations

belt over the sua

The design has been studied

It is claimed that this new pooting rollers. resting box prevents breakage by removing safety of a spring wire holding from Losses comparuncat.

ernek Are and balr cracks

are avolded because the hir

not allowed to walk on, or over the eggs. Nor are the eggs sailed

manufactur

Je my way, the

add, (MEler's Appliance Works Ltd., Tedburn St Mary. Mr Ev ter, Devon, England).

Record Player Unit

For Radiograms

A

I

:

welded

"

to make it ideal for loading to and from pits, stock piles vehicles of all types.

12 loader hrs A from work consisting of fattice braced boom of light steel tube and plate.

The belt is in widths of 16

| inches, 18 inches or 20 inches, Felbheut. Kngineering

Co. Lid.. Stander

Works.

Kempston, Hardwick, Bectori, England.)

Plywood Packaging

For Exporting Goods

OOKING for a

way

agreed

|

The Demand

Touching on the question

of

First

One component of the east-of-

that 1959 will see a considerably sales of durable goods in sving index that fell during this City Bank of New week was wholesale food. Dun that Beater outlay for plant and January bank letter, the

Bradstreet reported York noted that "the gipang than the 10.5 billion National

demand

wholesale fcod prices 35 Last year, bold divergent views

the! ter these items can eati

measured by their index scored en the extent of this investment. difference between a moderately

their sharpest decline in more good year and a boom year.

than a year. The index for Much depends on attitudes."

The Federal Reserve Board January 5 fell 11 cents below the

previous week to 6.24. It was that ፖርኀነ

cents or 1.3 per cent below the reported this week sumer Instalment debt, bolstered by the first rise in outstanding year ago levél.--UP.I. auto credit in 1 months, rose for the second straight month 12 November, The increase ad- amounted to a seasonally

A recent survey of 300 cor- perations made by the National Corp. Securities and Research

tful businessmen concluded were thinking in terms of n 32- for 1959. lion-dollar figure This is far below the receid

37 billion spent in 1057.

Most economists say current over-capacity is the biggest de-

tenent to an immediate large-justed 142 million, New credit

NEW YORK

to

Old

SMALL and complete unit for building into record players or miniature reduce the high costs radiograme is now in full of packaging involved in production in the North of sending their producte to British England. It weighs under overseas markets a 14/2

measures 7 radio and electronics inches x 51⁄2 inches, and has pany tested the plywood a low current consumption case of a packaging speci- battery operated motor.

ounces,

alist.

com-

COTTON MARKET REVIEW

extensions for autos in Novem- ber totaled $1,382,000,000, while repayment ef eld credit come to Board only $1,244,000.000, the sald. A

of 50 university, group business and governmeni econo- mists surveyed this week by the Wall Street Journal expressed doubt that home-building will maintain the pace It has been setting recently.

Considerably inere culimisra

shown by the Vice-President

was

executive

ני

Watson

1. Craw ..

COTTONS

Textile

Natyang INVESTMENTS

int. Invest. 5.35 alled

nere 13.23.

Composite Average

this week at 10.40-Rails closed 19:22 163.58 up 3.83 points and a new 1958. August 30, high since Utilities closed at 01.77 up 0.55 peints and how high since June 13, 1930. The composite average

Exchange Rates

Business was done in the local unofficial

market It is exchange morning at the following rated;- U.S. dollars (per $1) „................

Australian noten (per 41). Sterling notas iper £1) Indonesian rupiah (per 100) sum Heats per 100)

(Straits) Eingapore

Was

up

and closed the week at 23034 up

14% paints from last week's clos Stockholders will vote on three-for-one split in the issue recently proposed by the directors,

Some big gains were register- ed. Addressograph gained 15% & American Machine points: set a new record at 206.27

Metals 124 Sunshine Biscuil 2.36 points on the week.

General 10: Lof Glass 11%; The market rose on Monday Time 10; Lily Tulp Cup 7; and Tuesday by small mounts. Poelie Telephone 79; Haveg

rise The Tuesday

the11, and Pillsburg Milips 10%. these in a row and seventh

A total of 1,427 issues ap- these saveh sessions added 11 billion poured on the weekt. Of

gained, 487 declined and 135 held unchanged. There 313 new 1058-50 highs down 8.22 set against only six new lows.—— groups corre-U.P.I.

805

It

were

tp the value of all listed shares.

Then prot-taking with vengeance on Wednesday. knocked industrials points and other spondingly.

By the cicse cn Friday all the Wednesday loss was recovered 2nd more.

Market news generally held

6.74

16.56

12.011

20.85

1 Telephone repcrteri record earn-

1000円

to the favourable side. America

LONDON MARKETS ERRATIC & DULL

London, Jan. 11.

Arabs Want Their Own Bank

Cairo, Jan. 11.

The Arab League Economic Counci approved

tias

unanimously establishment of an Arab Firunicial Development Bank. Prender Rashid Kurami announced today.

He said the League also had valed to establish a special com-

Stock markets this week have been erratic and on the dullmitee to work toward an Arab

side except gilt-edged which have light.

Saw

1

nine

captured the lime-

common market.

Plans for Arob economic unity apparently have been

thot spurred by fears

the European Common Market will

L

The narrowing of the yield old year with Financial Times dex. The setberk was encourag-discriminate against Arabs. -

ordinary index at ed

by the sharp U.P.1. This week

en Wall Street in of the United gap between Consols and leading industrial Stutes Savings

Loan Industrials was an invitation to 225.5, prices fell steadily until fluctuations and New York, Jun. 11.

League, Norman Strunk, Strunk buy gilt-edged. This market was the index on Thursday stood at addition the year-end high en- phase points.couraged a profit-taking cotton futures said in Chicago there is a good of foreign money, mostly Ger- 214.5, a drop of

sudden sharp and demand crop

bousingman.

In addition there is a Friday ended on higher ground chance that private for the third time in a starts in 1939 will rise to as high growing beller that short-term rally of three points in the inequities Into gilts.

$ 1,175,000 units, up five per interest rates will fall again 1,125,000 soon. The rise in funds was re- row this week, although cent from last year's

ported to have been helped by realising whittled down starts.

American and continental buy- the extreme margin of the period.

the

anys of the week. This week's

SUPPORT

in

Public Outlays ing, particularly in the early Public cutlays for construc- sudden uprush in gilts saw the At Friday's close the list ruled 17 higher to our points lower, tion during 1958 rose six per lundated and long-dated stocks the lend, but the medium er up 15 cents to down 20 cents cent from the previous year to in

Issues 'naturally picked up abale compares with preceding new peak of i5 villan,

Departments of Labour and harmory.

Joint Commerce reported in a statement. Total volume in the construction industry rose to a

In the foreign market there record 49 billion, but most of

by was renewed continental sup-" the gain was accounted for

port for Germait Kelch bonda price Increases, the report said,

government A lot of the demand for these the week spending (both

come

from federal and issues was cold characterised France, Greek bonds also Features of the record player major damage and, on examina-ended January 2 chowed an in-local) which hits

tim. the contents were air crease of 75,000 bales over the entire post-war period will come in for some support on a undamaged and in perfect the proceding wiek, totalling continue during the coming year feeling of optimism concerning working order.

341,208 bules. The net stock of at an Increased tale, the the Cyprus siftution. Japanese 1958 erop collon under loan January survey of the Guaranty bonds remained firm. TRIAL DESPATCHES

totalled 5,103,103 bales vs only Trust Company of New 1.090.545 bales to the same time said, and may well be running last year.

at the end of the year at three Raw colton exports by destina-billion dollars algher than a tion as reported in bales by the present,

for test A number of eases Exports of the complete unit

examination to the United and

were sub- have been made

Italy uncĮmitted. The tests simulated as wook. States, Australia,

the possible

uctual Norway. In Britain it is being near as

Tracing the price path, the might be ex- used with transistor radio sets hazards which

March contract, after selling for building into a lightweight peeted in service conditions. down to 33.97 cents a pound on During one series of trials, a Decumber 30, moved up almost portable radiogram for playing

45 rpm. case containing a valuable and so a bale from the low to 34.87, the modem 7 inch recorda. It is small and light delitate instrument was dropped then lost about $1.25 a bale atj In the public sector of the which moved up to new highs. enough to be carried anywhere¦ 14 thaes from a height of four, the weekend,

feet. The case itself suffered no by anyone.

unit include a spare stylus and

which o brush

automatically eleans the sapphire stylus when the tone arm is returned to the olt position. To prevent wasinge

of the battery, in automalle Further tests were carried out stop la provided for switching in the fonn of trial despatches off the motor at the end of the to the United States, on which record.

reports were required before a

The

Lan entries for

the economy,

York

New York Colten Exchange_for But the issues of government decision on their adoption could; the 1958-30 season through Jan, spending and budget balancing. be made.

by the Canalla The case Total for, sensor,

Same period last year

The tone mr head is cupped

G were: and recessed to prevent damage

It was during these trials that Brita when the set is being carried or

and Continent The chipsss, turn- he feature of economy not in use.

Orient table and jone arm are of ligat one-tuving possesped

unit is

cars was illustrated. coloured plastic. tropically treated for use any was 1 cu. ft. smaller than a where in the warle. (The unit is

previous contulner used and a manufactured by Hornflows ton was saved with every ship- Limited, Mnryport, Cumber- ment

(Venesta land, for 8taur Electronics Ltd., Limited, Wintry House, Queen 2 Princes Now, Buckingham Street, Place, London, EC.4.) Palace Road, London, S.W.1.)

Electron Microscope

of 27 casex.

Nylon Headsets

Britain

headset

Trade

today.

Π

Dollar securities were quieter. a firm opening to the f

previous wick following the week's gains on Wall Street. Sonic KOR and In Canadians kindred shares were higher for

time but aluminium and I which promise to stir

mony battles in the newly-convened revera paper shores ensed,

Another feature of the week's Congress, are stirring surpris-

has been a spell of 107237 Ingly little interest among the markets

uncertainty among Industrial 1,330.992 American public, according to t

Sires equities. After reaching on wi the Wall survey by -U. P. L.

tine lgh on the last day of the Journal.

133.707 026,500 24,450

2462.978

Record Sum For Iraq

| POCKET CARTOON by OSBERT LANCASTER

"Before you go, i wonder whether any of you busy little merchant-bankers would care to hear, just what you can do with alt that goddam aluminium?!”

London Express Bervice.

of

switched out of

Steel

shares lost some their recent strength but shares with B American association tended to go ahead. The Brl- tish Aluminium battle provided the market with some big business and wide fluctuations in prices. Mctor and Allied shares have been generally Juggish. There was little Stores and doing in alterafts. kindred stares have reflected a January declining market, the

Im- sales not making much pression.

VERY QUIET

The textile market itself was

Capital Transfer Suspended In Tunis

Tunis, Jan. 12. The Tunisian Government, to-l night suspended alt transfers of capital from Tunisia to France.

The decision was taken at a cabinet meeting at which, the consequences of devaluation of the French Franc were dis- cussed Tunisia, which is in the Frane zone and whose currency was formerly pegged to the Frene, did not follow France's devaluation move.

Three Tunisian financial ex-- perts are at present in Paris mainly dullish. The brewery and further Onancial decisions sharo market was very quiet. will be taken when they return, Electrical and allied shares government

were on the dull side. Some of the leaders, favoured by the Americans fell back, such us Electrical and Musical In- struments, on reports

that American buying had arled up. Qlls were characterised by an ensier tone. Ultramar dropped several shillings and Canadian Eagles and Anglo-Ecuadorlans were dull. Anglo-Egyptian oil- felds fluctuated gently up and

Reutor.

officials said,

Bank Of England

Statement

London, Jan. 11.

The Bank of England state-

reads as follows:

down on presports of a settlement for the week endel Jan. 7, ment with Egypt.

The Kar market was uncer- Nctes is circulation .... lain although the trend is by no Pubile deposite

Other Private deposits mcana unsatisfactory.

Government mines were dull.--V.P.1.

Weekly U.S. Cotton Goods Market Review

some

bog sheetings

and

would

The

•

will be necessary,

these

securities

Other securities

Stavelota Ratko

Sterilag 2.006.060.517

12,200.137

251,433,028

170,000,000

47.317.980

30,043,1BM

20.6

-V. P. I.

Bank Of France

Statement

Traba

bo upped lead New York, Jan. 11.

Į probability Beniad, Jan. 11..

coterie cautious

also wide fabrics. Iraq has received a record

AEW business, in the col-trial fabrics like ducks and sue pround by ceni a pound on some observers fell.

waited to evaluate the trend sum of £83.812,429

ton grey goods market coating fabrics.

Paria, Jan. 11. The key to the future trend of ocmpetition through lower- COUSTIC engineers f venues for last year from the

The Bank A

imports, plus market will priced forelan

of France stató- Opinion remained conserva- of the grey goods Iraq Petroleum Company and its continued at a slow pace have designed N electron microscope bas

optimistic. Observers be shaped by what happens in government policy on raw cotton ment the week ended pra associates here, It was announced this week. Pre-occupation lively of A been installed at the Roya! telephone

through rose-tinted the finished goods trade during prtoes for the 1959-00 sepson, 31, reads as follows: College of Surgeons of England nylon. It is a combined receiver

Oll exports during 1988 total with Inventory-taking, and looking

by: 1. the immediately ensuing weeks, The question of whether mills

Total old holdings 247,850,000, 100 part and transmitter which, in spite

a carry-over of the holiday glasses were influenced for research work with

8,340,080 STI lod 33,255,204 tons also an all- This or a delicate appearance, fa

atmosphere, continued to be The steadily rising stock market; brekers sald. If finished goods would continue to cpcrate on a Totsi atlier currencies

WAS week

another sight balance abroad cular reference to cancer.

2. Anticipation of increased con- } business holds to present levels, ave-day

in EPU

14,125,200,000 Instrument has a magnification robust in construction that it is time record,

for

sumer purchasing power in 1952; milis anticipate a resumption of background consideration. eritle. virtunily unbreakable. The new The Iraqi Government paid restricting influences.

Hard fibres Jextured renewed Advance to Biabil

Lien Fund of 120,000X, nna

3. A tightening supply situation grey goods buying in the near £680,739 AS laat woliła just over four ounces the, oil company

atrength in sisel. Burlap prices Total bills dizemused 2.221,070.380.200 examination of the imazo

But prices held firm it inco of as more mille operate on a five-future.

Conversely, if finished goods Armed with news that Calcutta Banknotes in ciretis corporates a binocular telescope about a quarter the weight of the second instalment of a 1957 with a further magnification of corventional headsets. Standard lounot: 223 million following the inactivity. The infrequent day week; 4: Probability of an

of the company's appearance-ot, some lower-priced | carly boost in mill wagn eftes ne buying tapers off, and it con producers' were determined to tRNAL), 1,600,409 081,100

floor prices Act Cuzeni sopcounts and

deposit

878,075,982, 420 10X Metropolitan Vickart Telephones and Cables Limited, the sabotage

House Trafford Conbarlight Eldortical Co. Ltd.

Aldwych, pipelines in Syria during the rotale print cloth fabrics was. Mills frolling dim on prices vertors are unable to get their maintain the

Buez crisis—Rester,

offset by price mark-upe for anphasised the wato' increase prices, a new look at the allia- ' last February --UP.I. Park, Manchester 17,

London, W. C. 2.

zero