1959-06-08 — Page 9

CIENCEWAND

← THE CHINA MAIL MONDAY, JUNE 8, 1959.

Page

Weekly Survey Of The American Economy

INFINIERAG THE UPSWING

BRITISH MACHINE

REVOLUTIONISES

GOES ON

Encouraging Aspect Is Diversity

HONGKONG

DOCUMENT STORAGE And All-Round Balance

ΑΝ

N automatie xerographic machine which can print enlargements from micro-film straight onto ordinary unsensitised paper, at the rate of 20 ft. a minute, was demonstrated at the Business Efficiency Exhibition in London. It is claimed to revolutionise document storage, handling and reproduction.

be

It means that microflim can used now not only 41 4 storage medium for dend

material but as an active inter- medirle in a modern document. hondling system.

New York, June 7.

To most businessmen, the really encouraging aspect of the present economic upswing is its continued diversity and all-round balance,

New-car sales have enjoyed nuch greater strength than

is usual in the apring. Private new housing starts appear likely

to

continue at a record pace be- cent, Teleprinter System

For Aircraft

O taleprinter,

per

an-

On

STOCK

EXCHANGE

by

Our Own Correspondent

Business done on the Hong-

Very Severe Setbacks In New York

New York, June 7.

kong Stock Exchange this morning amounted to approxi- Industrial stocks in the past week suffered their most severe setback since the Russians shot their first Sputnik into the air in the week ended October 11, 1957.

mately $478,000, Noon quota- tions and the morning's transqe-

Buyers Bellers

BN 4166

- 13

Batex

30

The loss in the group amount- | progress and the fact that it wOB ed to 13.81 points w 029,89 In Jaccompanied by a

in drop the average contrasted with the įvclume helped sustain bulkh Sputnik break of 20.45 points sentiment. In that October week. It looked

ground in

closed Ulilles

Jndustriala last

every session, Rails and ut

Had it not been for a flurry of selling in tobaccos on Friday the industrial shares would have shown a small gain.

with 2.876 per cent the week | modernisation is a good indications: before.

tion that businessmen are con- Shiret The rate on the latest issue of | Sdent about the ECONOMIC BANKS 20-week bills was 2.400 per future,

JK Bank INSURANCES the bigficat #ince the

One survey, conducted by the Lombard

Union yond the middle of the year It | Treasury began issuing thes

National Industrial Conference Underwriters 0.10 current applications for Fov bills last December. This com- ernment-backed morigaze "fin- | pared with a rate of 3.73

Board, found that first quarter SHOPPING

Waterbost

*10 anelave do not drop of from 1 cent the week before and the Appropriations were up 76 per wheelaek The advantages of three up-

previous high on the 28-week cent from the fourth quarter of Hoc 5 5.83 4300 6.50 like a big decline but it was just

a fraction over two per cent, recent levels,

innnaged to rise Friday. Before fu-dale techniquea - malerofilin, \NE of the latest types of

1056 and 37 per cent over a year. Whart of 3.400 per cent,

those gains, the rulls had fallen Dock punched cards and xerography-

Railroad issues lost 3.35 points in nine straight sessions and the These advances, taken approxi-

AKO. tunounced on May 11.

in their average which Bre, for the Best time, combined

rether with a rise in capital

Provident The Increase in the rates

utilities in 13 out of 14 sessions, in ኣደሮ syafrin-the unitised motely the size of an ordin-

utlays, are seen to account for both series of bills follows the cluded in the survey, the steel LAND, ETC.

the week 41 103.80, Among separate industries In- | TWknd microlim system. The original ary typewriter was shown of half of the recent growth in Federal Reserve Board's

were down 1.29 at 37.5) and HK Hove! ap industry Increased drawing of documents is fimed the British Trade Fair, Lis-industrial output. The remains proval of an

its appruik Land..

the 05 stocks in the three_aver- increase in the priations $39 per cent over on to a frame of 35 mm loro bon, last month. It is 11 in. der has gone

ogen finished at 212.25 off 4.77 Humphreys inventory discount rate of 3 per cent year ago to a totol $757 mil-taliy

BOLO # 1.473 | points. Abm, the Bim is then processed

accumulation which remains from three per cent.

RUBBER and cut on lato hugle frames, high, 15 in. wide and hora healthy, in spite of protective

Ion. The automobile and trans Amsle These frames are ench Inserted depth of 16 in. complete | buying of steel.

portation industries increased A. Tawali .. Discount, rato to u mucin punched card, with key board. The machine

capital spending plans by 03 Sungla

UTILITIES which has the nurinal

per cent and non-ferrous metals Tram rapid will operate, in page form, forting advantages of punched

industries by 57 per cent. The carts, and gives very compact at 100 worde a minuto, a 50

chemical industry was the only try industry to show a decline fing When prints are need per cont increase on the pre-

in C. Light the sorted cards are slacked in'ient international standard.

gest-quartor capital spending the machine, which producen

plans, a drop of 17 per cent high quality positive enlarge- ments up to 34 in. wide.

ELECTROSTATIC

As the machine works by the electrostatic process of xero- graphy, the prints are made on

cheap ordinary paper, or unlo offset master materia), linen, ete. Not only does the machine produce ru cost prints material costs are less than 1d a sq. ft.-bul it also cuts down to

time needed Beconds the

to produce a dry, permanent print rently for immediate use,

Into

Steel strike

Although industrial produc tivity is still increasing al u rate above the normal annual trend

13

!

Analysts have pointed out that the rise In Federal Reserve discount rates and other interest rates has been much more rapid In the present period of re covery than in the correspond-year-to-year. Ing periods following the pre- vious two' recessions.

of

Yaumets

Electric

Accompanied

The cigarette makers were hit hard when the American Cancer Society announced a campaign to educate teenagers on the So- These losses were-accompanied¦clety's version of cancer being 500 20.23 by the lightest turnover for caused by cigarette moking.

any full week since August 29, Lorillard weathered the stor 1958. Sales for the week lolal- | belier than the others on re- led 14,785,757 shares, a daily ports it is coming out with A average of 2,007,151 shares. new cigarotie low in nicotine,

This compared with 14,872,533 This week it was the blue shares in the previous week, a chips which met the selling, but 1593 % 2115 | dolly average of 2,073,506 shares they appeared to be returning

20 25 and the August 29, 1958 week to favour after two days

of 13,577,760 shares.

losses running to more than six Several reasons were advanced points in the average.

21

13

03% 503 421. ica

11.00

30%

20.8) 2345

21 Log 2217

10923%

10.46 194

1.55 1.85

2'276 3.25

1.30

28 28.50

100

28.20

137

17.00 10.30

160

27.00 27.00

2000 P

10.10

25.40 23:5

100 20.0

1400-22

at.149

30 « 3112

3030 31

siecl

IA 1020

230:00

a move to raise the celling on the interest

X

...

8.50 3000 9.05 0.10 8.20

13 13.30

0.00

12.00

The machine will be among of three per cent, most observers believe it will decline to about

Spending for capital goods so a range of exhibits shown by Standard

ave per cent in the next Telephones and Ca-

far has shown the usual cyclient | Myco E months from the high ten per bles, Limited, and is manufac-

The increase in the discount pattern with the early increases Tel. cent achieved in recent months. tured by Creed and Company.

rate juri announced comes one being in devices to conserve Principal factors to be consider. 1mlted. Croydon, Surrey, an

year and one month after the labour or to satisfy_large TC-INDUSTRIALY ed here are the reduction in the associate company. Apart from

The only C'ement ... compact size and Increase reserve pool of unemployment bottom of the 1958 recession, the placement needs. its

index Reserve Board's

of in- dark spot on the capital spend-ETORES, ETC. and the very real prospect of a of speed, the teleprinter is un-

dustrial production, following ing plcture is the continuing In- Dairy affected by conditions of vibra-mid-year steel strike.

the pattern set in the recovery crease in prices.

4. Crow tion and tilting.

In the public sector of the from the 1954 recession, soared Although corporate profits are COTTONS economy, where the rate of in- to a new record less than a year now passing previous record Textile crease in government spending after touching bottom and con-highs, the internal cash flow of MULLANEOUS slackened from $10 billion per tinued to climb thereafter. How-corporations provides material Ch. Ent... 2220 year in 1958 to $1 to $2 billion | ever, at the corresponding point | for even moré optimism.

This Vibro faces of the previous recovery, at present, the Treasury

13 low-a measure

INVESTMENTS retained in, vet Anancing problems. The record months after the bottom, the earnings plus depreciation--has | Allied incomes now being reported to discount rate was only 2% per been setting a record since the K & FE

Invest generally by corporations will cent, or 1 percentage points last part of 1958 and is now not be inxed until next year. lower than now. The prime running at a rate of $34 billion.

rote, charged by leading com- This is about $10 billion The Treasury's short-term borrowing costs rose

mercial banks to their largest than a year ago. The rise in highest level since into 1057 on dit ratings, was at 3 per cent custer for corporations to

customers, with the highest ere, internal cash flow has made it Ап- in the recovery stage correspon- ance Investment outlays up to Business www dans In the local ding to the present one, also a now. In the next year, however, junaliiela) EXCLUDES market Ibis full 1 points below the pre-corporate need for outsidearning at the following rates: sent level. Comparison with the funds will increase, partly beu.s. dollars (per #), 1949-60_recovery would show cause of expected higher divi- | Sterling notes (por 21).

dend payments and partly be Australian noto per 11 will, ilczurably, fall due.-UPL Bingapore CAUSE taxes on present earnings Indonesian rupiah (per 160;.

Stam team iper 150y

An order has recently been placed by the British Overseas Airways Corporation for in- stallation on the Boeing 707 Jet ulrliners for the Allanfle route.. Bezaitse of their ability to work The machine will also enlarge at inclined angles, the ma- from roll microfint. pradueing nice sizes, varying coples in

instance, will replace the pre- from the samu! size

Fent Fystem

of wirelessed original to if the size of, the { weather information which is original. The system is versatile, subject to interference through and can accept a variety of climatic conditions. forms of input. Machines are

35

the

chines, receivers only in this

direct INSTALLATION translucent

available which

copy

or

from opaque documents. The documenta are The company has also re- fed Into the machine, are topled } gelved an order from the Royal and returned In a few seconds. Netherlands Navy for ship-

board installation.

a

Speed is variable through gar change which gives 00, 50 or 100 words per minute. Several different versions were 2 show, one of them being

Another model will enlarge cut film of size 1⁄2 tus, x 43 ins. elther negative or positive. This enables the recording of engineering drawings on cut Alm for record purposes to be extended to Include current equipped with a tape punch drawings. (Rank-Xerox Limit- | attachment enabling

both in-

ed, 33-41, Mortimer Street, Lon-coming and outgoing message: don, W. 1.)

Ultrasonic Engraving

Of Precious Stones

A

NEW engraving tool has been developed for machining smoll

hotos

any shapo, piercing

of

to be recorded in punched paper tape simultaneously, with Boimal page printing. tape can be used not only for high speed Automatic tele-

graphic transmision, but niso

for a variety of applications In Pro-

modern business duta

cessing and Industrial automa- Hon cystems,

to their

au lesue of 13-week bills this week. The rate on the new issue

was 3.149 per cent, comparea

COMMODITIES SOAR IN BANGKOK

Bangkok, Juna 7.

A. and Heated Road Keeps meeting last Thursday voted

constituent

polishing small diamond and

even

lower rates then.

The basic fact behind this kituation, it has been pointed nut, is not that the Federal Re- serve Board hus been delibor- alely hoping to shut off the rbcovery prematurely by push- ing up money rates, but that the resources of the whole banking system are now being at a rată much closer to capneity, ·

Total loans

At the end of 1950, the total

the banking system

amounted to only 52 per cent of the total of its demand deposLE By and currency outstanding. the end of 1955, the percentage

This Prices of commodities in Tost Bangkok markets wook soared sharply fol- | loans of lowing the official on nouncement last Friday that affective from June 5 Import duties on all goods was up to 76 per cent. A. year will be increased by ton later it was 80 per cent.. At the end of 1957, when the recession per cent.

assembly has already started, it was 88.4 per cent. At the end of 1958 it for the bill for the increase was up farther to 87.8 per cent. and present indications point to a in ratio, after.

Hongladerom Immediately after and February In a seasonal ELECTRICITY-supplied at the assembly's session, flew by trend cheap off-peak prices is helicopter to the summer palace It can either be operated as being used at British Spa city at Huahin to present two -n_hand-hold tool or be mount of Both to heat a steep stretch bills to the King

ed in a precision drill stand of roadway to keep it free from which is available os on geurs- lec In frosty weather. The hill sory. For engraving applications, chosen for experiment has a the foul is mounted in a normal gradient of one in four. pantograph type .cograving machine.

tungsten carbide dies

and

of

forngraving hard and It Ice Freemeister-Sunthorn further fine to the path sunny

brittle materials by Mullard

trane

transformer to an interchange-

ablo mild steel ilp screwed into the end of the velocity trans. former. The tip can readily ba

INCREASE

Adulici King Rumiphol

signed the bills into formally

and it was officlaily on nouneed over the radio.

law

shaped to suit the application. 12-Ton Loading Shovel cont

The nearer to full usa In the form of loans the, resources of the banks are engered the higher will interest rates tend

to go.

the banks to do more

more

Exchange Rates

(Strakko)

COTTON

MIXED

for the decline, including stale-

mate at Geneva end in negotiations, and

Electronics

of

Electronics issues had their the Treasury can pay on Its bad days but on the whole ther bonds.

made a

The good showing. Business news continued to chemicals were hardest hit. Auto reflect a roaring economy. Auto-drifted down despite favourable mobile sales held high, car load-reports on output and sales. Ings crassed 1957 levels for the Steels saggesi. Aluminiums ruled first time this year, railroad

strong on reports of betler:busi- earnings rose sharply, steel millsness ahead. Olla sagged on price ran at a near record, and retail weakness. trade turned in a good report.

Plurality

Wall Street experts said the rersons given for the drop were more excuses than reasons. They had noted the market getting tired, with more issuer falling 3.74 than rsning while the averagen 10.00 rose. Industrials set a now high 17.01

as May ended in a week of a 4.00

trollty of declines. A conso Iki Jidation movement was seen in

36.10

FUTURES

IN NY

New York, June 7.

Cotton futures this past week ruled alternately stendy and unsettled in

one of the quietest trading periods of the year.

Electrical

Industry

Machinery Stimulated

Washington, June 7.

Some of the aircrafts were hard hit by reduction in Income through a change in their opera- tluns from engine aireratt ló jels

CITY LIGHTS:

कही

"His salary is compard- Lively

amall but his

expense account ta aimply enormous}"

London Express Berpice.

At Friday's close the list ruled nine points higher to 16 points and missiles. Electrical equip lower, or up 45 cents to down monis declined after a series of B0 cents a bale, compared with advances

the preceding week.

Textile trado

showing

week

but were strength again. ав the closed.

Du Pont lost nine points, Traders as a rule, kent closeAllled Chemical 5%, and Unlon to shore pending decisive con- | Carbide-live-ka, the chemicalý monim gressional developments en farm | American Home was down -x

eristation, or the appearance of in the drugs-whore-Johnson some new incentives, pouzibly Johnson rose 6 on its drug in the crop picture, the spot réputed able to dissolve blood

cluts and Pilzer up 4, market or the textile trade.

In the electronics, Interna- On Tuesday, the volume fell tional Business Machines fell 31. to 10,000 bales, making it the points and Motoforn 6% while second smallesi talal for a five- | Texas Instrument rose six and hour session in the 22-year re- Zenith 71⁄2 polats,--UPI.

The US. business

ess recovery during the first half of 1959 has stimulated the electrical machinery Industry and revived optimism concerning international markets for electrical goods.

In the funds Jending with

ما

Prosperity

the

Competition

of 9,400 bales for a full sestien wos

Bank Of England Statement

London, June 7.

Affected

the

weekend, traders

Private deposits Geveraniant weviarities i Ofier #güittlek Receipts Ratio

and

Bierling.

fotal Ini United one-third of world Although the Federal Reserve

or States is usually reflected before parts; United Kingdom CRSC A fifty-foot stretch of steel.

can directly Hoard mesh was laid two and a half

tighten the reserve position of many months in other countries, West Germany, each supplying cords of the Commodity Ex- cannot affect particularly in Latin American about one-fifth of the total; change authority, which go back This tool is sullable for use. Inches below the surface and The Increase in the import the banks. It

of countries, which sell the United Netherlands, France, the accumulation

to 1037. The all-time Tow Belgium, with uil hard and brittle was covered with a "carpel" of

dulles on all categories of directly

are the basic | States raw materials.

Sweden, Japan and Italy. materials such as ginas, cer-waterproot tarmbe, A lov goods had been decided upon sayings which

The Federal Reserve Board's of lendable funds. It can

U.S. Government cohomists registered on October 23, 1958.. mies, tungsten carbide, and the voltage current is passed in onter to benefit the people,educe the reserve requirements index for electrical machinery who study, the electrical goods

Senate approval of a bill to precious, semi-precious and through the mesh to heat the

Radio Thailand sald. road," synthetic stones.

limit the size of individual crop However, the import duty on of the banks, as it did in four production in April stood at industry express this view;

General economic develop loans to $50,000 brought a short. averagement and the desire of many lived furry of selling in mid- The tool comprises water- The system can be completely old has been lifted by another stages in 1958, and it cat pro- 200 compared with 100 in April

amendment because the country vide the ranks with cash re- 1938 The 2047-49 automalle, but at present is

The Bank of England · state- countries for industrial divers-week. The market afterward re- cooled magnetostriction duser operating at approximate- operated by a harul switch. Ats finance, the radio announced. forms of action, it is pointed out,

needs more gold to strengthen serves by buying government equals 100.

securities from them. Both

Acation will create an exped- traced most of the Jost, ground #ant for the week ended June by. 27 1/8. The transducer #mall tow voltage transformer

ing total world demand for na technicians reasoned The 8, reads as follows; Effective

today purchase tax enable Vibration is transmitted through | steps down the mains power

on gold, silver and platinum

Government experts told the Power and for electrical equipmarket had apparently discount Notes in circulation byes 2,061,

ment for an indefinite a resonant

period.ed the action in a previous two- | Public deposit step-up velocity from 240 to 10 volts,

has been reduced to three per existence, but neither increases United Press International that The developing countries, will week decline. cent and jewellery wrought the basis aupply funds. Thi United Bialow production of

increase, their production Al from these metals will be liable can be done only by simulating electrical machinery for 1959 is

electrical Fighter

machinery to a purchase tax of five per saving, which in turn can be ac- ilkely to be nine or ten per cent

AL complished in theory by a rise greater than in 1958, but probatch as light motors. The cost of ably will not reach the peak labour is a relatively small factor m-läterest rates. * PURCHASE TAX

As each, musmeding survey of reached in 1657. Production of in the total cost of production for awaited the Senate Hoge con silicon carbide, boron carbide A LANCASHIRE Arm, famous

capital spending plans hay bale electrical machine in storage batteries, which many ference action on the melpura: could manufacture as well as developmenta on er diamond bort depending on for their risnufacture of Diamonde and other precious shown for a bigger

Increase 1059 may exceed $0.500,200,000. countries

other pending farm legislation. the application is interposed looms and textile machinery,

sidoos also come under the pup over 1958 than the last, retalhe position of the world's

The United Slates expects to enomically.

Automation between the lip and the work- have been producing mechanical chase tax of ten per cent. rowing in this' sector „wili Kauna

The October 1600, delivery, ploco, and cutting la achieved landing shovels of a type whichi According to Finance Ministry landing activity to come even exporter of electrical machinery The number of electric mo- which would be affecied most by by the continuque chipping has -- been exported to 04 sotross, the last revision on the closer to using up existing says but looks forward to gwater

increased: on an up and down over a range of of ton of the abrasive. The size countries. The first shovel to import duty of gold increased fings, which while Lots to bring competition from other countors used in the world in recent legislative developments, moved of the cut varies from 00025 be built at this plant, a 12-tore it to 36 params and further about additional Increases in intri Buropean competition, a

average about 8 per cent an-$1.70 a bale; varying between The Bank of France atatu- especially donmay, Brideti and impose a purchase Lake of tats | Lerest Falme.

Swedish, is likely to grow Innually, an indicator of the elec- 30.00 and 30.40 cents à pound. pas chat and other”), pewniaima

trification trend.; South America. German matni,

Market exports expressed May 28, read as follows: The trend toward automaatering views on the adiuaticky Total gold holding co facturers are making a strong ton of radistelut, papdomes the nearby months. Some orice coprono made the palestradores capital out for busint in the Middle will secelerate in all the major thought the Txtile mills were tabliss- parison with Lane Burma and brake of billon in the part and Var Rash and Japan todastrial halloris, it will out pretty well covered. South Vietnam

Saree quarters to Bis- bilion other increasing competition in same production costs of elep Discrepancy in the gold price and expectations are takingwili wari xastern marketan mandirical, machinery, but will have Elsewhere, the assertion wal Band notes is alretic betwho could increase as hulludfe the pect a Principal emporium, of tier, mirtenest on goods which the made that it would not take Thailand incouraged musume Fours The Incarnen in Sunda warm, telénk machinery are the trailed solve sharge amount of hard much to greate a lgbt altuation Korone the Lãos border - UPI. marked for expansion pro and Stater, which supplies about [varvete a

-in the old July comirantestPË.

in operation, an abrasive,

inches maximum lateral dimen-machine, the largest piece of its alon and: 3/0 in maximum | kind in Europe, rolled off the depth. K

assembly lines recently,

Ultrasonic energy for the en Ila normal scoop has B graving tool is provided by a capacity of three cuble yards 30. W generator.. No inning | but larger scoopa ana bù... Atted controls" pro needed gas à feed" | and with its powerful tour-wheel backt, dyrians maintains the drive the shovel can climb 1.8 geicento, pt. The

soperate in a slopes-[British Northrop Ing traquatic

24) Lad, Bikokburn, Lancashire 3.5

Capital outlay

In Thailand your fifth in soms 3 The küte, of: LOCAS |

15.

Bank Of France

Statement

ment

fion

Paris, June 7.

wook for tho

ind

ended

313312050810 $1.301.230.000