Page
THE CHINA MAIL,
WEDNESDAY, AUGUST 12, 1959.
CONFIDENCE IN TORIES
Settlement Hopes Dim
New York, Aug. 11. Hopes for an early end lo the crippling strel strike appeared dim this weekend. despite the 'con- Sinus
effuris of Mr Joseph Finnegan, the Chier Federal Mediator to break the deadlock br- tween management and labour.
Hopes which had been raised earlier during the werk were dispelled yes- terday by Mr Finnegan after
long session be.
and
the
tween representatives of the Industry untons.
The
Mediator Federal told reporters that false hopes had been raised by published comments on the negotiations. Mr Finnegan that the two sides added had not yet begun dis- Cossing
the dollar and cents aspects of A new contract. China htalt Special.
London Market
Lower
London, Aug. 11
Thure Mas no punie on the Mock market today over yester- day's sharp break in Wall Street and losses were generally only minue.
Well Reflected
On London Stock Market
By A SPECIAL CORRESPONDENT
London, Aug. 11. The London Stock Exchange last week gave the Conservative Government', a resounding vote of confidence. In the jargon of the market place even steels shone. And that is really For those steel shures something.
fairly seismographic in their reaction to every shift and rumble of the political world.
are
an
HONGKONG
STOCK EXCHANGE
wn Correspundeal
Wall Street Remains Strong At The Close
New York, Aug. 11.
The stock market finished the session today the way
Business done on the Hong-
it opened it on a note of strength. kong Stock Exchange thin noming amounted 10 ap- Late demand developed for Chrychr Moters proximately $1,800,000. Noon the electronics which splod
*co. quotations and the morning's over into some other groups Colombian Carbon Co
and left the market around its Commercial Credit highs for this session at its close.
sellous: Sharte nyeta seller ANS 11K Bank 523 0771
--
INSURANCES
Caton 601 0012
Lombard
40
Waterb.ut. 2420
Wisecock
Superficially, a great deal of credit for this SING
brightening of Conservative electoral pros- pects (I am assuming like everyone else October election) has been given to the forth- coming exchange of visits between Mr Khrush- K. Wait .. chey and President. Eisenhower.
Torfes in better stend than the prospect of exchange games of patacake be- conversationa! tween world statesmen,
The hero of the hour fore
1x that
While prepared to cpheet: that Mr Macmillan's handling of foreign alfairs has helped to which elimate h create tre
there- noch an exchange in possible, 1
unassuming suggest that the ordinary voter E relatively not influenced by bachtur, Mr Heathcont Ainnry. this. And if the tenur of Con-Chancellor of the Exchequer, and the first postwar custodian servative Party propaganda sel- vertising at the moment is any of the national pursestrings pointer. the capalin organisers demonstrate thal, as one
mentator put it, expansion and f the Tories agree with me.
i stability íኈንጤ /3 Fun in copil Transformation
can say that he has
The
almost unbellevably
harness.
No one
DOI KS, ETC.
$4
I tousklent..
Iskand LAND. HIE NK Hote!
BK tand..
Humphrey Realty RUBBER Anyala. To
Бабка ET VTG
10
1200
107.88
0.40 3500 4 630
1000 0.20 40.30 4000 19 0.33 400 35
103 415. 44 JZ19
2303 15
72324
J
2339 201JU 2006 ». 20.30
2136 23 100 SJ 3950
200
10%
14.00 10.39
XI
1.4 1.5 1100 15,
2005 3.675
2500113
Between the opening and the close, however, the market drifted listlessly, with a number from of issues backing down their early highs. The late rally restored most of the gains,
Conwolkinted. Edboo Contental Oil of Del. Crane Co...!! Crown Zelierbach Diamond Alka Diamond Card Dominus Store# Dougiza Alwaất Dow Chemtenía 1 Dupont de Nemours Eastern Marino
Pastman Казак
Paso National Cas
Fazaily Finance Corp.
Al the close, Zenith was up Fireline Tyre & Rubber around six points and TexasFin Not, City Danc Instrument and Motorola around Ford Maser Co. of Cans,
Ford Motor... five points sich. IBM was up Georgia Pacific more than 15 at its best level,General Dynamics near the close. Reynolds and General Foxida
General Electric Alcoa lumed strong In the General Motors aluminium and American | Geo. Pab. UUL Motors stend out in the mules.
Good gains in Du Pont and tho helped Eastman Koclak
50 Industrial average recover part
of yesterday's sharp loss.
*Fr
BUNU 1500
-
A Tawah.. 310
CrILITIES Tran
295 070
1099.7J
Star Ferry
135
$7
No. 17
Yauora
11:0
IR
But there
Hus
C. Light
19.00
18
more in-
J
SOUTH
Electric
20 20.20
505 - 20 43 29 2018 100% 21%
healthy looking young men and not done an excellent job since
who grin winningly at the took office.
Wonnea
a from their posters all exhort before him now a me to keep the Conservativasportant and decisive ask that
in power bespuse of the trans, he has yet need. Between now
they have wrought and the formation
in the domestic economy,
hypothetles election idate in mid-October, the Chun- feeting of security and cellor has to The
demonstrate that stable having achtoved stability he can engendered by hope prices, Industrials last ground at the creased production und
1 feel stand the opening but steadied later to parts, these
finish regularly lower. Anteri can favourites such as Philips Lamps. Babeucks and Unilever, huwever, came in for moderate Steel shares
selfing,
around one shilling.
declinee!
Oil stocks were lower.
Colls stocks rolled in late
trading
011
African buying.
Louth
selective
securities
WITC
Git-edged caster where changed.
Greeks, were
foreign
Lond
stocks fell
Street. UPL
market, Dollar back with
Closing Prices
Wal!
higher WORDS,
-
<X-
Panama Canal Traffic
1
maintain it.
•
1000 1 20.10
Today's volume was 2,000,000
ghores.
Of a total 1,103 shures traded 710 were higher, and 285 lower. American Exchange volume was 1,000,000 shares,
Bonds volume amounted to $6,450,030,
Dow Jones closing averages were:
30 dsantrials
20 calls....
19 titie
05 stocks
200+ 20.2J 500 14 29.10
400 bonds
10 Macao E. Telephone 25.0 29.80 1600 23.70
Watson
Check Inflation
Somehow he must cheek ony potential rise in prices and costs
Metal I which would set the good old STORES, ETC inflationary spiral
whirling Dalty again.
Bul being a Conservative he
contrive to do so without Craw. XD 19.19 BEAU ar fals
the one band atting free enterprise of employers or on the other tampering will; the workers' right to seek bigger payparkets.
must
COUTS!! is most olaviotis
Naoyan
MISCELLANEOUS Is
INVESTMENTS
Idently,
Course ut Action i stimulates demand-and there-
fore employment-and at the same thing does away with one of the major arguments of those who seek higher wages
1000 291.70
1000079
500 28 78
2000 - 5,05
10.10 10.43
13.20 12.00
0.00 7.00 4.70 4.99 1000 4,70
4000+ 444
Comun. future price index ..
Closing Prices
Abitibi Pwr. & Paper
Alted Clienteada
AlRed Mills Inc.
Am. Mach. &c Fdry, American Metal
Am. Natural Gas American Smelling Am. Sugar Ref..... American Tri American Tod. "B" Ansonus Copper Antico Steel Aumour Ating
Gen. Tyre & Rubber Getty Di...
Goodrich (B. F. Co.
Glidden Co.
Goodyear Tyre
Genusan Alterati
Haughtond Organ
Gulf Oil
Heyders Newport Corp.
Eleirotake mining củ
Husson Herrig.
| Idaho Power
Imprint On Ingen-Rand
Inland Steel Co. Interchiemical Carp. Int'l Dusteres Machines
In Harvester Internailuna! Nickel
手
Pazo 9
NSPORTATION.
First Nuclear Powered Ship
To Be Launched
A 22,000-ton
yassol with
cargo
Jersey last
Q
about 20 knots was month.
spood of
launched in New
x
479%
1374xd
214
203rd
41
21% 455%
421%
זן
30
Although there does not sound to be anything unusual about this, the ship,
the "Savannah" is the
world's first
huclear powered ship to go into service,
bearing the same
name as the first
vessel to cross the Atlantic by steam
propulsion.
The "Savammah” I 395 feet long with a maximum width of 70 feet and will be able to carry 9,400 tons of cargo together with 60 passengers and a crew of 200.
is
423
3522
103)
Internation Paper
12016
pent
In't Fet & Tei
John-Manville Co.
STEL
450.0
Katser Tuntry
105
182.1.
Carsan C. Power & Light
91.29
Kennett Copper
219.15 Kimberly Clark
63.61
Liggett Meyera Tob
100.21
Lily Tulp
Liston ini...... Larkheed Alžī Loews Incorp, Lone Star Cement Lowenstein & Sona. McDermoti J. Hny McDonnell Aircraft Meanbl from Corp. 123xu Minnesota Mining
40% Malon Devolopnirot
$30
30
اجور
there the outside
than some 40 per cent above those for a conventional vessel. Nevertheless, rumming costs are
this case still put at some 10 per cent higher than, with n all-propelled tanker.
From nothing unusual in her fines One important question rained beyond the absence of a funnel, by the taunching of the but some recent passenger liners "Savannah" remains to bo have had theirs so effectively answered y
PX- operating disguised that this does not epi-perlence. To the extent that the remarkable. Indeed, it is nuclear ship will offer a better of faster de- the new cargo-handling equip service in terms ment made up of steel Tubes, very of goods and passengera that give the "Savannah" uch or greater comfort she will tend unorthodox lines ns it possesses to draw traffe away from con- With a single fran the exterior.
ventional Rects. ship this diversion counot be great, but it is probable thai with tour or dve nations trying out several kinds of reactors there might well be a dazen or more semi-experimental nuclear ships saling the seas within a few years. SUBSIDISED
PRESSURISED
The engine Is a pressurised water
reactor, very similar int already in service in the American submarine "Nautilus." In-conjunction
with a steam raising bolter the steam turbine raises some 20,000 ha. and five-bladed propeller through double reduction gearkig.
drives u
The reactor, together with the elaborate shielding designed to radiation rlaks. 44 eliminate all
לנה
INDUSTRIALS Cenient....
3
307, 2200 23 2000 1
Alden Inc. Aey..
33
Algoma Steel Corp.
12.30 17,40
19/9 $1.30
Ama Chalmers
33
Monsanto Chemical Co.
100 1.40
Am Brake Shoe
151,
Montgomery Ward
17.20 18 19
300
1,73
American Airline
277xit
Motorola The.
2030
17.70
Alt. Cable & Radio Carp,
National Bat Co.
551
500
17 20
American Cyanomid Co.
6JT
National Carh Rea. "A"
500
39.10
Art Forgn. Power
11
National Dalty frod.
53
von H. 143 COTTONS
0.03 Textile
Art Ge& Electric
National Lea
127
AL Home Prod.
177
610 3 0.05
National Steel Corp. New York Central"
97%
2112
Noranda Mines Ltd,
20K) 16.03
13
Norfolk & Western Ry
145
North Amer, Aviation
4016
Northwest Airtines (Cur. !
JD
Tel
BO
Olia Mathieson ...
2nd
10%ə Elevators
Owen-imotu Gluma
a
3
74%
Orion Paper Co.
Zilming
11
45
Torke Davin Co
Penny J, C. Co
26
Pern. Salt Co.
Bendix Aviation Corp.
74 Pulp Morris
14
D.5
30
Co.
Publicker Industries
Brughs And Machine
The
111 Amer. Of
Radio CorporaSou
Cal. Packing Corn,
0746
Raytheon
4.03
Can Dk. of Cora
Itepubite Steel
50
Royal Bank of Chunda
1073
at
5514
IK A FR Invest.
14.00
Exchange Rates
Washington, Aug. 11.
that is to campaign for price int An in a quiet Mr Merrill Whitman, Secre- the one he seems set to purse: VIDTO. tary of the Panama Canal cuts by manufacturers wherever Allied Company, warned today there can be justineri. that traffic jums in the ch Canal may be recurrent till 1963.
will "Delays
Suntinte occur from time to time until
Just how the Chancellor will angFovements
the Canai
convince the manufacturers that I have been completed." he said.
they should eat prizes is not JENIS
Back in Washington after a
yet known. But if he can do so M: 1950
ip to the Canal Zone.
October the June- demonstrably before Whilman said that
well set the seal mi o duly crisis which tied up ship- he may
victory.-London: Siam tenta (per 105) a seven-day Conservative 1960/90-1999 and Fortis
Singapore (Straits) fur Express Service. work-week
kedged Bunda
Belush Transport
378.83--
PORSAR 4 £74.320.
£0.
tug
bean
Loan
Funding Stuck
Funding
272-11, 10.
1-1/10.
الله اول
J. 1990/3001–
Luan 400
Savings 37, 1935/65-1. Savings 1960/70-281-0/16 Suvinen
Banker
! 37, 105/753-70-5/10. Rarely, Dank Ltd ord-57,
"Chartered Bank - 43% 64.
Itunakuta--Lit
Insurance
Union ounce Canton - £3%
Airerall and Mulors
Motor
Ord-14 Corp.
Ford Mastur Le-ta M.
Brewerits
Distillers Co-2 $0.
Building and Materials Axelated Portland Cement - 58a Ex-capulisation correct.
Finchin Johnson Associates Ord- 211
L'oat, steel and Engineering Babcock & Wilcox Ltd-52, 7c. Vickers Lid-3 10.
Food and Tobacco
Attish American Tob. Co., Ltd- DIN F
inperlai Tobaten Cu.. Luth--$1
MiscellaneGUE launan Marden lad Is 20h. Britai
Oru-s Dxygen 478.
Cenodian Pacific Rly-$317. Dunlop Rubber Co-241 64. Hongkong & China Ga-134. Ispertal Chemical-37. lychs & Co-71 0. Unilever L-104.
Paper Bowater Paper Corp
Radio and Electrioni Azzaelated Electrical-d24, Electrical & Musical-30 d Engl Electric Comdie KG, General Electric-27 Qu.
Shipping
Ord-
Indo-China Stomm Nav. Ca. P&G Sieune Navigation et
ord-20 34.
Stores
Great Universal Stores "A
On
werd
energency Cinal personnel had been eased. Restoration of two-lane tree in the Canal had relieved the congestion, he said.
tital He indicated, however,
still faced shipowners with the possibility of occasiona! raffle jams during the next few years while Canal Installa- tions are being improved to ac- commodate the steadily rising trafie fonds.
PEAK TRAFFIC
A major factor in the crisis Just past was the peate trailic, beginning in mid-June, which included a swarm of big new superships.
Yesterday's Closing
Even under normal operating [conditions, the Canul is not yet | per th
geared to handle so inany large vessels arriving all at once.
Mr Whitman could give no explanation for this sudden con- centration of ships at the Canal. In fact, he said, it defied analysis -coming at a time when world shipping is in a slump, with 17 per cent of U.S. tankers now idle and over 7,000,000 of the world's tanker tonnage reported idle.
_ [L* \n1 1 + wan clone in the ten!
exelitug Market mofficial morning at the following rates: U.S. dollar per $1 Sterling notes (per £1 Australian nolex (per intoresc uplah (per 100)..
1)
non-Ham,
Baillatore & Ohto Hank of Montrent
Henricial Finance
Bernuct Cons.
Bethlehem Steel
Boeing Airplang Darden (The
150 | Campbell Saun Co.
12.81
15
Case (2. 3.) CH.
Cat. Tractor
20 32 Celanese Corp.
1.83 C. 1. T. Financial Corp.
COMMODITY PRICES
SUGAR
NEW YORK Closing prices all in
conts
Contract No. 4 (world)
Sept.
l,
Jan. March
Max
Sopt Oct.
Spol. Cuba)
2.97 21.00
Total Sales: 144 contracts. Open filercat: 1.200 cantizețe,
$.89
COTTON
N..W YORK
Closing prices all in cents per
1b..
Dov: Oct: 12.00: Suu!: 03.15; 32.14-15; SEAT 32.50-51: May: 22.07: July: 32.30: Oct: 30.20; Dee: 30 30.
NEW ORLEANS Closing prices all in cents per 1b.:
Spot: 3130; Get: 1100: : 1229: Mor: 3249: May: 52.07: July: Oot: 30.29 Dee: 30.30.
SAO PAULO
52.16:
Closing prices all in cruzeiro per kilo:
Oct: 03.50; Dec: 61; Mar: 4; May: 63.90,
Contract No. 8 (domestic) Sept. Nov, March
5.40 Spot (Cf. M.Y. ex-duty) 342 An
Tatal Sales: 31 contractK. of water,
Open hattest: 3,300 evatrarts—UPI.
Large ships take at least 12 hours to go through the Canal, compared to eight hours for a del verage vessel. Moreover,
elght-mile stretch familiarly known as "The Cu must be cleared for a large
transit.
Present plans call for "The Barks & Spencer Lid--381. Woolworth F. W. "Comaze Cut" to be widened from 300 to
31%
4:55.
-745.
Textiles
Cool
Lid-28 d
Courtaulds Ltd-100 3d,
Minoi
198
Cong Guldricide of South Africa
TDA 7
ܐ܂
500
foot and its
channel
deepened, enabling large ships
to go through two abreast. Half-Bnished now, the work is
to
Согр of South progrossing at the rate of one ib.:
mile a year but is net due be completed for several years. Lead -UPL
Cony Line Corp. Ord-00, P. Da Deste defeitos ou cut.
Free State Development & Invest- mel--ti. Pişik.
Hongkung The
list.
Petaling Tin-Se Du
Rand-1911 7854.
Bouthern Kinta
'Uniton Carp-754.
Cons Lid-231
Went Driefontein Goldmining-
247 042.
West Rand Con
British Borneo Petroleum Syndi-
cate-sex t
Goodyear Income
New York, Aug. 11.
SIVITI
SINGAPORE
Prelle Cax & Elec.
Paramount Pictures
tney Bowes
Procter & Gamble Co. Pittsburgh Piste Glies
1274 Pure Ou
Closing prices all in Straits
rents
Forts;
per ib.
No. 1 Aur.
Sept
No. 2 Aug.
1.0.b
Malayun
1001-103 104-106 104-101 1022,-1041
Reyookis Metal
Sears, trebuck & Cur.
Shell O Co.....
Sateway Stores
Sant Reg. Paper
Schenley Inc.
Sealt per
Sinclair Oil....**
Stalth, Clio
Soruny Mobi Oll
weighs over 2,500 tons, and the permanent sieci, vessel is some 50 feet high and 35 feet In diameter. It is zereened with
nyers of concrete
sicel, and 214 with a polythene coating round A whole the sphere itself. range of devices are Installed to ensure that the reactor stops working during an emergency. 20 and that radioactive leakage in the event of the ship sinking will be avoided. Even if involved in
collision the "Savannah"
2414
45
13014 30%
357
3312
21
It is quite clear that they will nat cover their costs and that their freight charges will there- Jore
this be pufosidised. If should prove nufficient to distort The present pattern of czen carriage of dreicht and passen-
gers, consticruble chacs could follow
With the present surplus of conventional shipping lumage likely to persist for some years, there is a very ubvious danger of a eltuation developing rather like that now affecting world's airlines,
the
It has been shown that even the slightest increase in operat- Ing speeds tends to attract traffic
123 would offer well over a foot of from airlines with slower nir-
steel to be penetrated before the reactor core. could be breached.
l
70%
ねい
409,
371,
1/201
443
04
001
French
50
45
Bolar Aircraft .....
10:2
South Puerto Rico Supar Bouthern Co. (The)00 Scuthern National Ga
210
40%
Southern Railway (Cur.) Standard Brond Standard Oll of Cal Standard Oil of Ind.
8415
11
3
#alixd
Standard Oil of NJ.
Z3
Strep Rock Sterling Drug Co.
Texas Co.
960
HEAVY LOSS
craft and to render oleolete within a matter of a few years, planes which have many years left in them of useful pervise but which have to be sold be- cause they cannol compete to the full in speed.
By the end of 1060 the "Savannah" should be in service, but will operate at a very heavy
This has come about because less. The cost of some £13 of the agreement on fares which million is best regarded or a effectively rules out the porti- Investment in experience: exbility of charging according to perience in constructing End service provided, and puts a operating a nuclear cargo vessel decisive premium on air speed. and a training the crew to mon It is very much to be heped that the early operation of This cost is about double that nuclear ships will not be allowed the same kind of of a conventional vessel, end to produce even a reduction of running custs self-defeating situation through the subsidy, policies of the res- through much lower fuel charges and some eut in the number of ponsible Governmenta.
operate the men required to
Que,
"Savannah"
will not suite 10
offset the disproportionate Cut Prices On
copital costs.
The "Savannah" may well not
operate in the best conditions European
Stakely-Van Camp.
2012
Stone & Webster
50%
Studebaker Packard Corp.,
111
Sunahing Buning
Switt&Co,
Osta
Textron Inc.
20%
No. 3 Aug.
Thlohal Chem.
34
No. 4 Aug.
102-103
Tide Water Assn. Qil
Spol rubber unbaked Blanket crepa No. 1 pale erape
100-1301% 101-10
Timo Inc.
for keeping running costs down!
Tel-Cont. Warrants
29
113-115
Twentieth Century Fox Film
37
Union Carbide
bulk cargo will raean that the
14324
LONDON
Usion of Cal
50
time spent in port loading and
Union PaciBe Ballway
United Aircraft
United Goa Corp.
1.B. Gyps
Closing prices all in pence per lb.: No. 1 Re spot ... Selement cese term:
Ost Doc.
Jan/March
April/June
July/Aug
Del/Doc.
United Fruit
V.B. Foll "B"
U.S. Line
UR. Rubber
carrying general rather than
Routes
THE Chairman of British
European Airways, Lord
331% duscharging will be as great 8 Douglas of Kirtioside, has
47
3541
3412-32%
GTA
304-30 2011 -2012 2014-201 2016-201
317%
0412
U.B. Smelting
UB. Steel
30132
US. Steel PC. PF ...
Warner Bros.....
Waukesha Motors
30-30
Westinghouse Air Brake Westinghouse Electric Western Union Tel. Co. West Va. Pulp & Paper Wir-Dixie Stores Woolworth K W)
J23
00
4011
421
UTI.
General markets, c.l.f. basis, ports:
Aug. Oct. Average price in U.S. at 14 designates spot markets. 31.98.Eatale crepe
thin Aug Total sales: 0,105 holes.
LIVERPOOL Closing prices all ln pence per
lb.:
10 Aug,
AMSTEÏDAM Closing prices all in guilders per kilogram, elf, Sept.
· American Contract
Oct/Nov: 21.35; July/Aug: 23,50;
No. 1 rubber No. 2 rubber Mar/Apr 21.35: Dec/Jan;112:
NG. DESET May/June: 1.2; July/Aug: 21.10:
No. 1 crepe Det./Now: 2130.
Alized Contrast
NEW YORK
Closing prices, all in cents per
Zine
Sept.
Sept.
Copper Rep.
11.01
11.95
Oct/Dec: 21.40———UPI,
July/Aur: 255; Oct/Nov: 21.40: Dro/Jan: 21.30; Mar/Apr: 21.30: May/June! 21.40; Jul/Aug:
21.40:
3
In
Sept. Oct.
101.70
101.75
LONDON
Closing prices, all in sterling
Goodyear Tyre and Rubber Company, had a net income of $40,016,000 in the six months per long lon: ended Juno 30.
Brition Petroleum Co.. L-87 share,
Ti spot This was equal to $3.70 per copper, spot
3-month
"a-month
ad.
Royal
Hurt#· T‡jď,
215-27/33.
Dutch
hell Transport
1.Reuter,
In the same period of last Lead t Petroleum-year, net income totalled $27,ine in half Aut Truly-143207,000 equal to $2.52 per share.
~China Mall Special.
Buben Bellera
703
701
RUBBER
NEW YORK
Rex rubber, futures closing prices, all in cents per lb:
Sept. Nov. JAU, March
#34%
July
Sept.
37.00
202 buyers
201 buyers
203 buyers
3.22 buyers
UFI
FOREIGN LXCHANGE
NEW YORK Ckaing rates: - Canadi Entrar oficiat *****
All others unchanged. LONDON
2.01
1.04 17/22
1/10
Closing rales: New York
2011/10-2013/16
Montreal
34.40
300 15/10-3.09 2/10 All others unchanged.HỰPE,"
with conventional ships, and this forecast that proposals for
will naturally restrict the pro- portion of the
snack"
time for which cut price "cold she is at sea. Indeed, unless the flights on European routes long will got "a mixed reception" voyage routes to reap the full from International airlines. advantage of her low running
"Savannah" is
put on
costs per mile, it is very doubt- ful whether the margin of im- provement will be at all con- siderable.
LONG WAY OFF
"But it is something that has to come In the very near future," he told at London Air- 18 port before leaving with family for a holiday in Majorca. The scheme would be put be- fore a meeting of the Interna- The day of large, fleets of nuclear-powered surface vessels tional Air Transport Association thus st seems a long way off, in September, he added.
The Bights, similar to present all the more so as tite large supertanker of over 100,000 tons, Trans-Atlantic Economy
which offered the best prospect vices would reduce U.S. Employment
Ser- menities
a higher seating in terms of bulk cargo, long but provido
capacity, Trauls and rapid turn-round, re
Lord Douglas said that cabin now much less in favour than at Washington, Aug. 11.
the time of the Suez crisis and laff were finding it increasing- Ty dimeult to serve full meals U.S. employment climbed to a panic for tonnage. record 67,394,000 la July, the
But it still remain true that with larger aircraft coming into Labour Department reported to-larger nuclear vessels ought to service.
"It is no good increasing the cabin staff," he added, "They
duy,
Unemployment
the ducin
4.
be cheaper to operate: reactors should decline in cost per ho. as
"Some frst-class services with month declined to 3,744,000 per- 120y expand In.stre and this will just get in each other's way,"
Help to spread the burden of the sna, n smaller than normal heavy capital costs, interest cas hot meal facilities and a full bar. drop.
which has to be met whether the would still operate."
BEA. hoped to reduce s The employment Agure was ship is in harbour or at sea.
The Americans have under fature costs by a new production whito up 252,000 from Jurie
slukly a design for a 40,000 ton drieu and higher mechanisation. War
"There will certainly be tanker with a boliing water reactor while they esilmato will axing of staff," Lord Douglas The figures did not reflect the cost no more then three-fifths said. "In fact we shall be fpk- steel strike which has filed 000,- of that itsed in the "Sovannah" ing no more staff as our busi- 000 workers in steel mills and and related industries.-UPI.
the unemployment figure down by 290,000.
whileli
therefore nesi nilight reduce capital costs to no more Special.
grown." China
no
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