1959-06-10 — Page 9

DAKURTH

FLYING A JETLINER

!

-ON THE

dhan, at dhe i po

GROUND

THE CHINA MAIL, WEDNESDAY, JUNE 10, 1959.

London

Continues

To Go Great Guns

London, June.9.

London Stock Exchange continues to go great guns, with much gound investment buying and some unsound and rather comical gambling. A technical correction is highly desirable

but will not necessarily come.

On the one hand, the anties. in such things as Greek bands and some property shares could make the whole market. vulner- able. On the other hand, every- now knows that there has

been a revolution in the funda- mental supply-demand equation as between equities and bonds,

When there has been so much

TUCKED away in a quiet corner of Bond's London Airport base is one of the most up to the minute aeroplanes" in the world and yet it never leaves the ground... All the same, its laporant speculation and such daily "fights" are a vital part of the task of train-one-way markets, a shake-out ing the men who fly Boar's fleet of Comet 4 jet-election announcement or com

liners.

The "acroplane" is the Cor-round inside a poration's new Comet 4 simula-building.

electronic coran

amazing Irnining devico which enables the crow

the to practise on

of ground all the hundreda skilled tasks which they have to perform on overy Comet 4.

flight in

is always possible, say on the

international shock .or next quarter's downturn in the U.S. brick office steel, auto, oll and rubber in- dustries. But there is a lot on the other aldo,

The secret of the Anulator's astonitung realism Hes in a large and highly complex elec- trole brain, fitted nearby, which instantly works out the effect of zilon the pilot takes, and makes all the other ventrols and Instruments revel exactly as they would In fight

The simulator looks exactly Bike the nose of a Comel 4,

fight deck, A while Inside it is a perfect re Behind the production of the flight deck of controller sits at a complicated the airliner, complete with all control panel. From there, he 1 corea of Instruments and can feed in the sort or pro controls which, a modern air-lema the Comel 4 pilot must be liner needs.

REALISM

Scated at the controls of the rimulator, the Come! pilot can "fly" it will uncanny realism. In his cars is the quiet note of the four jet engines. As we muves the centrol column, the

recall

prepared to meet, while an checks the pupil's instructur reactions to the problem. There, in perfect safety, the Comel ploi can be freed with "emer- gencies" far worse than he will ever have to meet in proc- tice,

Downturns

As those U.S. downturns have been so well advertised, they discounted. Europe's my be Industry-about which the OEEC is cock-n-hoop--could well take up the running; the soft spots in Belgium and Scandinavia merely serve to highlight the glowing prospects in Germany, Holland, Italy and Britain.

The Investment revolution is rent and rests on for mare ikon inflationary psychology, As it has gone so much slower in

Uion London

in overseas markets, it could go further in London 'before It has a setback elsewhere.

On International carnings and dividend yleld comparisons London even after its recent advance, is still the half-price market. The comparison between

CILLIONS

Canada in the crystal CANADA

POPULATION

13.4

1948 1958 1960

GROSSIGN NATIONAL **PRODUCT

£M The

1948 1958 1968

Canada is attracting more investment from Bri- tain. The demand is for solld'shares with a-substan- tial stake in the country's future development. As this chart shows the growth potential is great. These figures "crystal gaze” 10 years ahead and point to the increase in population and the wealth that will be generated.

LONDON CLOSES ON DOWNSIDE

alters the throttles, the air landings demanded, all of which Shell yielding 4.8 per cent and The stock market closed on

ounce

the

Engine and other faults can be thrown at hiro, tricky Rose of the device rise or fall; up which he must be able to

navigational problems thought | and the altimeter will

The cope with Immediately, difruit

demand every

concentration, pilot's skill and

o Anal touch of until, with brilliant realism the simulator "touches down" on the runway to the sound of rumbling wheels and squealing brakes,

the change of height. As speed shown on the Indicator In front of him will show the change of speed, the sound of the engines will change, and the engine instruments will record the change in "power" So realistle is the device that plots admit that, after a time, it is hard to realise they are not in fact flying eight miles up, but a few feet from the

authentie note provided with the old of a tape recorder,

Threat Of Blow-Up pilots both faster and a great

At Shipping Meeting

Washington, Juno 9.

The simulator not only gives pilots a chance to learn many of the skills of jet dying with- out the difficulties of doing so in a real aircraft; but also makes the training of Comet 4

deal cheaper, while at the serne time raising Bonc's strict train Ing standards higher than ever. It also enables ✡ complete Comet 4 crew to be trained together, another big time and

BRITISH Transport Minis- cost saver.

Harold. Watkinson threatened today to ratur REPRODUCE dt once to London unless the United States showed what

sources.

The sources sahi Walkinson took this tough stand as the result of a declaration ancte Like

Corporation's

by U.S. Maritime Administrator nying staff. the crews who man

Royal Dutch 2.8 per cent relates to two parts of the same bust- ness, und if anything it may undersinte the general earnings relationship, both because Shell does stand higher than if it did not happen to be one of the only two UK stocks listed on Wall Street and because UK. com- panies as a whole still distribute their earnings more conserva- tively than companies In the U.S. and most other countries.

Redressed

Andervaluation If London's derives from the uncertaintles of sterling and of British po- ties, there is a constant possi- bility that it may be violently redressed, because one aspect of those uncertainties has turned bullish and as a whole they have been exaggerated.

2

Mahy U.K. companies are now adjusting their dividend of pulicies to the possibilities dividend limitation and nation. allsation, however remote those pessibilities may be. Sterling is underpinned by the overvalun- tion of the dollar which is so Intensely difficult to correci.

despite a late rally.

investors Bargain hunting tended to offset the renewed bout of profit-taking as a re- sult of the fresh weakness on Wall Street.

Gilt-edged securities were mostly unchanged,

Industrials

Industriale finished mostly lower with American favourites suffering the bigger lossen. Muin exception

to tlie trend was newspaper shares

which closed higher.

Greek bonds eased in the foreign bees market end dollar

London, June 9.../ the downside today

Chicago Grain

New York, June 9. All prices u conts per bushel: Wheat No. 2, red

HONGKONG

STOCK EXCHANGE

Mur Own Correspondent

Business done of the Hong-

Kon Stock Exchange/ANT mcaring mounted to approx-

FagóÞ

BORORO

Aluminiums Rule Strong

In New York

Į

New York, June 9.

mixly $280,000. Noul quAluminium issues rufod strong in a lower

tlogs and, the morning's: trana. actions:

Sharre BANKS TK Nank

Buyege natiera

INSURANCES Union

Lombard 7013 73!4

BUIERING

FOLKS, ETC.

What .. ▼ P2.

Deck

Provident

Tainco

31.40

ora

stock market today.

The mous showed salos|CabCorp

C. I. F. Financial Corp. ......** ranging to 3 points in Rey-Chase Manhattan Donk nolda Metals. In a late come-Chrysier Motor

Cluett. Prapody' – 114- backdréne the lows of the day, Cafeleramalve.co.

Whecek. B. 230.53% some issues managed to clan Colombian, Caribe Co.

aces higher along with the aluminium commercial Credit

Consolidated Edition group but a majority 101 Continental Oil of Deli

Crapa Ca 2003 round.

Crown Zelleitabh Small feloding gains were Satan Amor, Bugar .In Allied Chemical,Diamond" Alka Chrysler, International Har Diamond Gord 2004 33% veller Schre Roebuck, Texned, Douglas Aircraft 200 234 United

Aircraft, and US. Daw Chenickis. Steck Rails miso recovered stern Airline

pant, de Nginours

LAND, FI 2055 3234 1000 321 notes in

JK Hetal

HK Land..

Humphreys Tealt RUBBER

Amalg Trun

UTILITIES

Tram

10.4

33 234

15 1818

of catly

declines.

the close, Procter

Damison 'Stores

Kisan Kodide.....

AZI Paso National Ger

Firestone Tyre & Rublier

Gunble was down 34, General my indies Cotp Foyds, two, Goodyear General Electric 142

port

27.00 20.10.

Star Ferry.

114

Yaumati

አርቲ 100

20 6 106

100, JAG

C. Light

17.00 17,50

Eitetaje

*** 27.30 27.40

Macro E

19.30

+

and

and Jane NaLKCity Bank Aks

each. For Mold Co. of Cana, For Motor ARIANNA

14. Georgia Pacile

3037 17.00 American Tobacco lost to 17.3 Rall losses ranged to 1% polots Gonna grandes

132744

400 37.46 in Norfolk & Western.

300 67 2030

Tel. ...... 20.30 25.40 1030 28,33) INDUSTRIALS Cement

3016 30% STORES, ETC. Dalty Watson

Crow COTTONS Textile

Nanyang

ነው

14.30

17.00

4.03 5.10

MISCELLANEOUS

Ch. Ex ..23.00 Vitro

INVESTMENTS

Allied BK & FE Invest

*. 12.69

0.10

4.33

Major Groups.

General. Bactric

Ciclista Food

General Motora.

Gen. Tyre & Rubber

All the major"groups" finļshed Spy,ÕITA. lower. Industrials were more Gilden Co..

GESCH(F) Co. than two points above their low Goodyear Tyre 1000 14,40

2006 14.30 for

the day. Utilities with Gemona. Atripart 500 g 18.40 decline of 11⁄2 per cent werer OL

the widest losera,

2000 * 12.70

Drip-Dry Cause Fall

Mamanand" Depa

| Redden Misuport Cary,

Today's volume was 3,490,000 Hoseakening Co

shares.

Of a total 1,224 Issues traded 307 were higier and 723 lower.

American Exchange volume was 1,470,000 shares.

Humanus fictity.

her

mid-Mand

Imperial bu

| Inland. Stool. Có,

Interchental, Coru,

Int'l Business Machinew

Bonds volume amounted tinti Harvester

$6,000,000.

Inemacioni Nickel

Dow-Jones closing averages International per

were.

30 industriale

InTel, & Tel.

G132 Jah-Manville Co

Kalmer Industry,

10044 C. Power

05.71

Kermecott Copper

27194 Kimberly Clark

20 ralla

15 uses

Od stocks

40 bonda

03:37

Comm. future price Index

14023

Lilton Ind.....

300.10

Liggett Meyer Tob, Cu..

Elly Tulip

Manchester, Juha 9;4-| Moody's index

Closing Prices

The Empire Cotton Growing

Corporation today blamed Abulbi Pwr. & Taper

.

Algores Steel Corp.

Allied Miki Inc. |Allis Chahiner

drip-dry shirts as a contri- Alden ine. Aer butory cause in the fall of Allied Chemicals cotton lint prices. The

Corporation's report, Bako Sabe Amonicon Alriino presented at the annual meet-

American Cabla' A Radio

Curi ing here, safa that last year

American Cyanan. Co. the price of

cotton Bnt feller. & Form. Power steadily and differentials be- Ain, Geskectric

A. Homo..to. tween short, long, and extra-A, Mact & dry.

130-1315 | Jong - staples diminished

|gressively. ..

pro-American äiclat

Am. Natural Gas Amerleon Sing)ting

It said this was partly due to Bugar, Ket,

Spot

105

July 104% (1) 2015 (2) 10432

Sept.

106-107

-Doc.

1931-

dar.

100%-

Corn No. 2, yellow

Spot

July

Sept.

12012-

Dec.

11311

Mar.

1107-117

the

Rye

July

price support given by United States Government

the

American Tob. "E

American Tel & Tel

to

Anaconda Copper

Bept.

1271% 12111

American-type cotton

and

Arnica Steel

Gati

dull

Gold stocks rallied to close mixed. Coppers were... mostly enster and other base metala

Oll Issues were lower.—UPI:

July

partly to the introduction of the drip-dry shirt.-Router:

Sept.

15%

Soybeans, No. 2, yellow.

Spot

July

Sept.

stocks fell back with Wall Street.

Closing Prices

Giltedged Borids

3178/03

British Transport 207th..

Coneals 2-EB1-3/10.

• Cunsola 42%==£74-7/10, Convenzion Lean 30%, 1960 40-13/10,

Funding Loan 3

1958/00--

unding Stock 3%. 1900/2964– Funding Loan 45% 1000/00

1016/

Savings Bevine 3%, 10/10-3-13/14. Savings 15, 1983/75-275-1/10.

Barclay's Bank 4" Lid ord- 194T

"Chartered' HaR --459,

Jongkong 2014

Insurance

The flight engineer, a vital he considered a more reason- nember of the crew of a device able attitude at the Inter-us complex as the modern air- liner, can also learn the tech- national Shipping Confer-niques of jet aircraft handling ence, according to informed on the simulator, which can also reproduce all the functions of the engine controls, both on the ground and in flight,

Above all, there are mounting possibilities of the Conservatives 3 all the

winning the election within

and quite likely 471-15." Clarence D. Morse at this the Comel 4 are hand comfortable

increased majority. If this be morning's session of the con- pleked pechutists, who have ference.

undergone a long and therough comes a dominant market fac perlod of training before they tor, elther by expectation or by They said Watkinson was uptake control of the aircraft. Itt the election result, steel shares are not the only U.K. industrials net by Morse's declaration that particular, the Caplokos, many

capable of jumping 50 per cent the United States did not in- of whom have hundreds or

or more in short order. tend to nudity its shipping even thousands of hours jetliner policies and certainly would not experience behind them before do so on flag discrimination Jining the new Comet 4 fleet, (government generated cargocs)

are men of vast flying ex- All crews perience, but, like which was the subject under Alscussion......

Comet feet, they joining the NO LAURA*6¬B¢180}***="CONFI The Bourdesunta Morse spell before taking command of clearly implied there was noth- a jet airliner. That means not

Instruction on ing more to discuss about the only classroom

the technicalities of the US, attitude

on cargo prefer-

loer they will fly, but also long periods of praetlee on the Comes 1 simulator.

There

hours of practical training in the 100 of course followed by a

the actual light over

route they will be flying to add Anal polish to their skill,

ences,

They raid Watkinson recalled he was a busy cabinet minister and had not come here to listen

to euch

unes-operative atlitude-UPI.

are many

به کمالة

that

Union, finee Canton-24 ár Aircraft and Motors Brition Motor- com. On-12

Ford Motoseries. „Dlatiliais. Ecad06,

The threat to the Conserva- tives from Liberal interventions seems to have been hysterically 10

Notions exaggerated. Liberal vote-splitting wilt rob the Conservalves of a decisive" number ut scrie-may-como, in retrospect,

to rank with the fears that Suez was going to bring a fuel famine and millions of unemployed.

* MAI 2

Intervention

je

Buliding and "MaterlilyTM prestigi Forland Comment—Gis__ [UNG" Finchin Johnson Associates Ord...

Nov.

Jars, Mar.

Darley,

Exchange Rates

(business whe Kojie in the local UNONIMALI Zexchange market this

morning, at the following rates; U.S./ dollarm) (per #1),

Atlas Cons. Mining Baldwin-Limasilam. Baltimore & Ohio

k of biafireal Hanefcis · Finanot Bendix. Aylation Corp. Busquct Const Dettilehem Steel

Boning Airplane Borden (TBA) Co. Burrough Add Machine 3.74 h "Amer. Qli

Sterling hotel (per 211 13.95 Australian notes (por £3

2001

210

Spol

120-133

New York flour

200 lb..ck

$13.10

-UPL

wadaylarn out of

".

Indonezian rubish per 100)

[Slam tesis (per 103) 224,41

Yesterday's Closing

CamBk. of Coinm. Campbril Soup Co.

Curation Pactße R. Can G. X. C

Yingapore,,,fpirulta), m, 1.91. - Cat, Tractor

(vitarlunion) kallasmos odi

COMMODITY PRICES

SUGAR

1st 1

NEW YORK

All prices in cesta per 15.;- Contract No. 4" (world)

fold.

July

Coal Steel and Engineering Babcock & Wilcox, Ltd- Kis. Vickers Ltd "BAD.

Sept.

Oct.

JOAL:

Food and Tobacco

Mar.

Eritish American Tub Co., Ltd

Moy

Imperial

Tobacco Co., Ltd—JUs

July

Sept.

Ord--Ga

||Td.

British Oxygen *Liik 17.

Canadian Pacie Rly-32. Bunter Stubber C- 7. Hongkong China,Gas-131, Imperial. Chemical--a 54,. Lyons *-Co-174 pd.“ Walleyer 0õel od vre

Indeed, just na Suez In fact brought an oil glut, there is a a real possibility that the effect of the Liberal Interventions will be the reverse of what is com- monly expected. There are some signs that tho Conservatives may tare relatively better in the there is Liberal places where vald-splitting than where there is not.

..

46

The Liberala do draw"""more of their votes from the Con- servatives than from. Labour, bat hat by any’-margin that is and likely to be significant, those Conservatives who го gard the vote-splitting as unfeir tand to rally round the citadol where they otherwise might

Opery interest: 9al contracts, Contract No. 6 (domestic

Mixed Contract

Justy/Aug

Oct/Nov.

March/Apri

-A8BAZ

·នផងឥត

“BAO FAULO (All prices

in cruzeiro per

July

Lakieralup 13 quand on I

METALS

NEW YORK

Lockheed Aircra

| CITY LIGHTS

Y thought po sita half the car industry's output toent abroad/

· London Georesa Bervice.

Loews_Incorp.: Lone Blar Cernent Co Lowenstein & Schm McDermott J, Bay: McDonnell Aircraft _Block_Exdo.) Sesat Iron Corp. Minnesota Mining - Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Egg Sa National æquit· Goj National Cash Reg. "A" National, Dairy Prod. NAUTISK SEVAK Natipeal, Bleek - Chopp, New York Celltrai, Norenda Mines Ltd. NOTLOOK Western fly: |Horta - Arder:)Aviation

North-west Airlines Old MathTestos Our Elevators Owen-Tilinal, Claes

Ghi 4 Eloo.

Pan American Airways

Picturuy Barke

Patuny J. Co,

Closing prices all in ceate Pen Cor

56.30 per lb. "Average price in 0.8: alijq=

designated spot markets: 34.5B. Lead Total sales: 1,813 bales-UPI.. PADOVANA,

gulision cot Aerie pa-kaza

RUBBER

F... A

NEW YORK"

おせし

Zine

Copper July

Sept.

Tiet July

Sept

LONDON

sik

11.356

11.4bb

13.345

10.706

Phillo Morsia

Pitner. Bowe

Procter & Gamble Con

Pliwburgh Plate

law

Publicker Industries Pure Oil Corp 3000-04 Radio Corporation 30.00-95 ndio Cori. Pref,

Raytheon ... GETRA Republia Biel

2 b

Reynolds Metata Royal Bank of Consda Gears, Roobak & Co.. Shell Oil Co.../

Closing prices, all in sterling away Blones

per long ton, unofficial after-Baltit Reg Paper

Rex rubber futures closing noon sesalon: prices, all in cents per lb.

30 Sek. Now.

Bpc (C12. NiY, roc-duty), Open interent:

A83

Juli

4309

Oct

Nov.

fan.

Mar,

May

July

Bowater Paper Corp dig-49 94 VPL

Radio and Kiectrical

03.

sociale. Becirica)-60€ od, Electrical & Brusical-1 English Electrin Co-42%. General. Ziecirlo. 33, 34.

Shipping Indo-Ching, Bleam Nav... Co. det P&Bleam Navigationi def and

d

Starts

„Great <Unlygraal Stares" "A"-4

Marks Bences, jul 10:40. Wolworth F WE Comdis 15. Conta 3. & P Llamas id. Courtaulde Gids Tha. Anglo-Amstloan . Coep of: South Affiestory, di car.

COTTON

· NEW YORK ».

All prices in cents per lb.

July Oct,

Dec.

AP

July

Ock

All prices in echte

Epot

54.00

38.50

22.99

Though the pendulum in wholly: In Labour's favour, the Cons Goldßelds of Bouth","Africa— social and secular. trends in The 10.

Ces Line Corp; Ord-842, 96, 1 Conservatives favour......... of 'the

From Binte Development & Invest- mike, them rather, strong favourites to moore the unpres mensis d

Hongkona cedented, hat trick, bada qulie kalythe Blacreed, ninjority which would bidang that the

Union

BINGAPORE

All prices in Straits cente

| [b, Lobụi Malayan ports;"

No. 1. June

July

No. 2 June....

Np.. 6. Aynin

Spot, rubder 'unbaled glärket gespeči No.1; paje, creneur

MANLONDON

All prices in pençe

settlement "tipura term:

Tin pet 3403 | Janonth 24,47|| Cupper rpot

3-month

| Benenley-ing, gr

Best Paper... Sinclair 4**** Buyer Sellers | Bmith, Cilise French,

20014 201

234-14. 135

June

80%

FL

348 Zine at half June

31.13

JEWOF SURYAM.

FOREIG

UFI.“

ENCH UNGL

-NEW YORK Closing rates; be

England official,

Pakistan

Sucony/Mapio Bolar Alteruk je Bouth Puerto Rico Suga Bauchemi Co (frite) dec Southern National Ga Bouthern Railway (Com.) Standard Brenda Standard Oor-Cal Bandard Cil of Ind BiemandOI-62.N.J.

Steep Rook (Taronta Zage.) Barling Drug Co,

Siobely-Van Camp

[RADÍ A Webster

| Budebaker Packard'. Corp.

Munshine Mining, an Bwift & Co..

-Texa, Co

Thloket Cheri *Kids Wear Acars, KH).

¡