1959-08-24 — Page 9

Page

SCIENCE AND

THE CHINA MAIL, MONDAY, AUGUST 24, 1959.

Pago 9

Of American Economy

Weekly Survey Of

ENGINEERING FURTHER INDUSTRIAL LOSSES

New Product To Help Combat Fungus Disease

A

NEW product, to be marketed shortly by a U.K. firm will combat 'grey mould” or botrytis, the principal fungus disease of glass raised lettuce, For the first time this disease can now be controlled without checking the growth of the plant.

The new product which con

fains a nitiated chloro-sin

derivative is the latest discovery New Air

of the firm's research deyzart- 1

TEL. It will be sold hi the

Equipment

tom of a yellow powder which To Be Shown

Is mixed with

the wil before

pizatBiz o azed afterwards s

Stre

211

Taircraft equipment-

a

ita

Production Slows Down

Due To Steel Strike

New York, Aug. 23. Further industrial losses, slowing down of production and resulting Washington concorn marked the sixth week of the steal strike.

metal.

The situation was compound-1 volved is the increasing right of ed by the expanalon last week lobour to decide how companies of the copper strike to the point should be run; labour maintain- where it affects three-quarters ing that precisely because profits U. S. production of that were to large, management had a duty to share mote of them The first offclat statistics an with the public. In this way both the effect of the steel strike-sides are presenting the issue as at least during the Arst two involving fully principles rather weeks of it are available now. than just questions of material They are not singgering but wil gal. cause concern to anybody who cares to translate them into aix-week period. And even in its Aixth week the labour dispute failed to reach a stage where any settlement would appear possible soon.

rç!

STEEL OUTPUT

During the 1050 steel strike five points the index dropped from 141 to 130,

• Mineral production, such us iron ore and coal, dropped five per cent in July as a result of The drop was even the strike. bigger in August. The National Coul Association estimated soft coal uutput for the week ended Aug. 8 at 0.350,000 tons, down from. 7,285,000 tons in the pre-

13.5 per cent | vious week and below the 7,923,000 tons pro- duced in the corresponding week of last year when the industry was just beginning to climb mit of a recession woes.

LAYOFFS

HONGKONG

STOCK EXCHANGE

Own Con standünti

this

Business done on the Hong- kung Stock Exchange mening amounted to approxi- mately $1,056,000. Neon quota- tons and the morning's transac- tlons:

Buyers Sellers Gales

Shares

GOVT. LOANS 120,000. 3 (1943)

BANKS HK Bank.. INSURANCES Union LombFL!... SHIPPING Wheelcks

DEL

UNCERTAINTY PREVAILS ON N.Y. MARKET

New York, Aug. 23.

The stock market took a beating for the third

successful week.

The market enjoyed only one alrerafis, which are in disfavour good session this week-on In Wall Street, Autos moved Thursday-bu this was not narrowly. Allled was weak in nearly enough to offset losses the chemtenis but International Sait was strong. Seme of the Caution was the by-word in electronics were strong, Wall Street. The market is wrestling with three big un-

| suffered cariter in the week

include

BIG LOSERS

Among the big losers were

certainties and investors appsor | Bendix Aviation, off 5; Cater- reluctant to commit themselves | pillar Tractor, off 3%; Edilson until they are clarified.

Fire- These Brothers Stores, off 4%; marks question

the stone off 1%; General Tire, off 3: coming Khrushchev visit, the Marms, off 37, Phelps Dodge, longthening stool strike and the off 344; Johmson & Johnson, up possible effects of the govern- meul's Ught money 440 441 2700) (7 441)

the economy.

DHIT

t44)

W

500 74%

401

6.30

1.40

DOCKS, ETC

K. Whart Buck

103

Providen!

13 30 131

...

LAND, ETC.

Hotel BK

Humphrey N Heally XD

20.40 28

2014 2012

300 301 16M

162 1025 000 1.50

2KX012)

3.023 300 200 3021

10*0.3 M

Trust

A. Towels..

UTILITIES Tram

Star Ferry XD Youmat

Amalk

20.10 25.60 2201 (2011)

114

The strike og passed the 34- day length of the 1956 walkout which was the second largest in post-war history. The longest steel strike in the 11. S. was in 1952 and lasted two months. The Iron Age Magazine said the only chest. The powder is com-Two new developments in

way out of the imposse expears. plately odourless and faintless

ONLY WAY

In be the invoking by the Presi

Railroad cartondings cur- md, of course, entirely harmless

an engine condition analyser

dent of the 80-day cooling off rendy are off at a weekly aver- to the people who will consume

Consequently, among leaders provision which provides visual ́in-

of the Taft-Hartley | age of 180,000. This is the main the lethee.

of Industry at least, talk

was Act,

source of the layoffs on the formation on engine tem being heard that the only or botrytis, is they nauki,

WAN That in the view of the in- fringe of the strike which Krowing perature and vibration, and out would be for the govern-dustry. Labour present in all fettuce

counters that government statisties for July solls Serious outbreaks. Be

crash position indicator | ment to exercise its right and such a step would not help put officially at 100,000. Addi sally triggeres off by wel,

at the prder

80-day cooling-off settlement, on the enntrary, it tónal Izyoffs have occurred in foggy conditions which prevoit will be exhibited

All available August. Show period during which production would delay it. lettuce Farnborough Air Proper ventilation

would be resumed witile negotia- intelai statistics and private in- grown under glass. A bad aftork | (September 7-13).

The latest were in Milwaukee tion of.

dustry reports meamshile spoke i can write IT the talk of the

But all the government did sout a growing slow-down

ien-1 A. O. Smith Corp., producers RUBBER The engine condition analyser crup.

monitors The new preparation, hus wiserentinuously

far was to publish this week dency in the economy. This was of Line Pipe and Oil Well Cas- engine

ings, where 300 had been laid under gestemperature and vibration

wealth of background Informa~ | the picture: proved effective,

off and 40 more are leaving work fun," a botrytis | night and displays the informa-

tion on the strike In a strictly again-1 lip

There are dozens next week. redtices that quickly

t in a forn which can

Impartial way, without any !

small-scale Steel production last week | such

Jayoffs commendations. The public wa- | Tuty bunnis to brown tissues, desserted at a glance, On pre-

left to draw its own conclusions amounted to an estimated 337,009 throughout the country especial- Work ent:tinuing on control | Right checks the analyser makes

specialty steel plants The engine

and they were pretty hard to tons or 11.9 per cent of capacity, ly in of tip her in the del

conditions kumedlalety

All output Inst week totalled where inventories are beginning draw, ne product is als i eontrol for

It also allows fault apparent

to dwindle. The "best-planned What the government did was 335,000 tons or 11.8 per cent of stem botrytis in tornatur, kation and checks on condition

to show that the steelworkers are capnelly. A month ago operations steel strike in history clair for routine maintenance to bu

the best paid in any industry, were at 12.9 per cent ut capa-applies to large bagle-type steel Electric mode without external equip

product manufacturers. Spot that the ment or rigs. A detalled check

steel companies have ity, yielding 305,000 tons.

The steel strike

shortages have already developed of the temperature of any engine had the biggest profits over

sponsible for a one per cent de-

for several specialty products can be made

period of years and that as at the turn of a

INDUSTRIALS a result foreign steel baseline in industrial prixduction last and as result the witch.

price of atez! been vilmbing up month although only the second prices-normally $30 to $40 ~" | Metal ... 1.00 steadily

of that

half of July was affected by the ton below domestic mill prices may incre transmitter

are now equal to or above the STORES, ETC. other basle product. Under these walkout. It was the first drop in circumstances the public was 15 months. The industrial - U. S. price. Mid-September

Index hd climbed now put forward as the date likely to ask what the strike duction all about and again get no estis steadily every month since April when steel shortages will begin

1958. The Federal Reserve Board to hurt almost everywhere. To an outskir observer 1. reported industrial production in would seem that the strike was July at 153 per cent of the 1947-

U. S. copper production Nonyung some sort of an expensive game 19 level, off two points or one management and labour had toj per cent from the June level of was expected to be slashed by 155. At this rule, even it sur-three-fourth towards the end of piny every three

down deny ther layoffs do not slow But both sides would

this past weck on a result of last walkout by the This vigorously, the management production further, the Industrial week's claiming that more was at stake i index in August would drop a than money,

what is in further four points.

The prodit has been tested extensively hy commercial glowers all over Britain and an Countries overseas under widely different soil conditions and has given uniformly exertient con- trol with all varieties of lettuce. The crash position indicator

There are good hopes.

thalisa radio

beacon

the preparation will prove to be based on the well-known Sarah effective in controlling botylis (search

in other plants and

tricks are

B

extensive equipment. being carried out--

The indicator

Thermostatic Soldering Iron

Fescue homing)

is constructed

("Allisan" is mute by Bonts over a thin plate aerial and qua- Chemists, Nottingham, England.bedded in tough plastic foani to forts un aerofoil, which becomes an integral section of the ale- fuselage. immediately craft prior to or simultaneously with

aerofoll is i the crash impact, released, delivered a safe dis

ntressit true from the

and automatically eumences radiat- ing ratio beacon frausmission. is compatible with The signal Samah reaveh equipment now in we, and can he received by has been developed from a searching aircraft at ranges of

op 70 miles.

A

NEW thermostatic soldering iron, with ac- curate temperature control,

The transmitter

National Research Develop wit: operate successfully im ment Corporation patent by mersed in water or marsh and rent out of a small Scottish engineering will flout 80 per

wader. It is particularly company.

This equipment ensures that in useful for Fine work, conditions of fog or low cloud, especially in the manufac-arching nirerafl or ships, which time may past ture of delicate electronic at the present components used in gulded within yards of survivors, can-

missiles.

The managing director, Mr

G. 5. Meek believed that there was an urgent need for a high

not fail to locate their position, --(Uira Electric. Ltd., Western Avenue, London, W. 3.)

quality instrument of this kind. Tool

For Metal

And Wood Work

This idea was to provide a tem- perature control of plus or mis 15 degrees Centrade at a per- mal setting of 30-250 degrees Centigrade. Enquiries

the Patents Library, however, General Pred showed that the Ontre pirendy had a patent in existence envering the idea and by

A

Year

us this was in the hands of the National Research Development has

U. K. firm which pro- duced the lathes usad Britain's Geophysical Antarctic axpedition developed

now

Corporation for exploitation, Mr | machine tool suitable for Meck applied for a licence to

both motal and wood manufacture,

working.

the

Although it Wis clesigned

for the mateur originally

The next step was development of the basic idra, which was to make the differca- tal expansion of an inter market, the now machine, has

ferrous metal rod and an uuter case operate a micro-switch by an Intermediary magnifying Jever movement. Trials showed that a manber of points required further investigation and ex- periment. Mr Meek, who is ca engineer, carried out this work personally, as a result of which he succeeded in dispensing with steel tan iron- the expensive nickel alloy with a low co-

been proves under test to dustri standards.

itz-

for

than

factory answer.

that

20

years or 30.

was re-

British Economy Appears To Be In For A Boom

London, Aug. 23.

COPPER STRIKE

mire,

C. LAAM

Telepine,

Cetent

Dalry

111 11+ 14110

2020 23.4)

18.

1500.to

3001.10 10 12 5091

FM 29,43 104029940 2004 23.40

20 30 8 1009 201

342 3434

4: Libbey-Owens-Ford, up 4 policy on Owens-Corning up 4; Reynolds Metais, up 4; Texas instruments, trp 5 and Warner Lambert up the 3.

WAITING GAME

Investors

"waiting

fire Rome,"

playing

says

broker,

ne

The Dow-Jones averages for the the week showed Industrials of He pointed out tired bull market is going to 3.35 at 855.39, ralls up 085 at need a new stimul if it is to 103.20; uliitles of 0,53 at $1.38; resume its advance with any con- and 65 stocks off 0.60 at 218.80.

Most analysts believe

The daily Everage volume settlement of the steel strike dropped to 2,352,442 shares from 2,775,963 shures the week before lowest for any and was the week since the one endlost May 30, 1958-UPI

[CITY LIGHTS

40

509344

17.40 17.70 105 100 16 00

17.60

17

21.30 2115 2003

• What a lucky thing gun.

21.

500 +

CUTTONS

Textile

4.06 0.10

30.40

3604.05

Walton 1. Craw

inill and smelter workers union INVESTMENTS agalas: Kennecott and Magma Copper, 12 strike against Anaconda Wednesday

and

against Phelps Dodge, copper stocks, however, are estimated | as being sufficient for two to: four month period. The total of copper strikers is over 10,000.

1960 a 0,10

2090 N 10.55

1300 10.40

2000 kr 10,40 3000 14.51) 100 10.40

0.05 0.13

500 11,5:1

1.00

Int. Allie

& F Inest, XD

$12

Exchange Rates

hadn't started to clean

Landton Laporna Ameri

would stimulus.

provide just such

Cotton Goods Active

New York, Aug. 23. Most cotton goods markets were moderately active this past week. Saics

print cloths were through of the year,

Light

Individual corporale develop-| Iments played important roles in made from September

the end the price action of many issues. United Fruit omitted Its dividend trading was reported in sheet- and lost 5% points an the week, ings, drills, twills, and fine yarn its good, but prices were {1rm. Paclic Southern

riused dividend and proposed a stock Omabergs were up 4 cent in split, sending that stock up 5%

un the week.

Automatic Catern rose 45% on

Steel,

light dealings

monthly of grey

Offerings of 3,500,000

yurde cloths from India brought increased demands

a stock pilt.

• An eight-month rise in

The steels scored gains of 1 for action by the Secretary of anyrolls was halted by the steel

to 2 points this pas week in Agriculture and on the fidu- strike. Commerce Departent

was gone in the Lorat

fake! the Allegheny-Ludlum, Youngstown, try's petition for import rellet. exchange for July showed the deal

and U.S. Sterl statistics

Bethlehem,

Finished goods business 150 ming at the following rate :

satisfactory. Total income

individual of

mostly Aluminium reported 5.73 National

were Americans Inched to a new re-us. dollars per $1)

bot coppers Man-mare bre fabrics 1904 issues were trong angusi rate cord-an

steady In price with mills well were generally weak. $304,100,000.000 nad a

mo1 staple gam of

Olls and tyres suffered some booked head

So did the mandors, New business during $300,000,000 from the June level.

13 fately sharp losses.

the week was mostly for Bli-in But wage and salary payments U11 the

quantlifes. slumped $500,000,000

rale of average

Payrolls in $201,200,000,000. manufacturing industries alone were down an oven $1 billion

to

[38

Sterling notes per Australian nen per ... Indoneinn vinh Iper 11 Sans Beals per 100) Bug pore

3.57 i

for

rises in other business haly- the months,

ed the loss on the average

8

OPTIMISTIC

Both government and independent authority stated categorically last week that Britain's economy was in for a period of boom and this coincided with the publication of a public opinion poll The steel hiventory pic- result which showed that more and more tere is still optimistic for most still people are flocking to the banner of the Tory mujor steel users and existing

supplies are considered

for another Six Party and if there is a general election inadequate October then Prime Minister Harold Mac-weeks, The brakdown, as millan's government will return with a hand-ported by steel magazine, some majority.

boom

INDUSTRIALS

I

Is:

million the end of six weeks as steel users have been dipping into the stocks at a rate de-o one million

the

•

tons a

week.

In

Increase U.S. Exports To Russia

Washington, Aug. 23.

WOOL

on

GOODS

were Wool goods markets Generally firm with new buil- nesa Bimited but with pressure for deliveries, There was con- siderable speculation on men's wear worstedt price for the full 1960 season where some business has been taken on an "at value" basis.

Expectations are that the actual prices will be 15 to 39 cents a yard over autumn 1909 valuca, depending in part on futures raw wod price develop- menty

The hard bres markets were

After covering require.

Commerce Secretary Frederick H. Mueller lasterally firm but somewhat les

weck reported a sharp increase in U.S. exports to the Soviet Union during the first three months of 1959,

This heady news caused an very active. Investment immediate expansion 11 themand has now broadened from Actually some 1.500.000 tons is in share markets and blue chips to include a much being used every week and the outstanding half a million tons In the sphere of metal work-

prices cach day recorded DOW wider range of shores and 311 time "highs." The advance

in prices has occurred above inventory use is being oe-

However Muchler said ex destined for the Soviet Union it is a sturdy centre lathe wit: variable height of centres

Financial Times industrial over

broad front. Foreign counted for in this way: 250.000 are still

third involving ports to Eastern European with almay

Other sliding with und

automatic motion to the cross side and full index rose 6.7 on the week to demand from the contineat and tons from mills that

The 255.4. Gains have been general the United States has been operating. 150,000 tons from steel

and 100,000 tons nations generally were some paper pulp machinery.

products to be shipped to serow cutting empabilities.

and in many cases substantial, much less this week, and home warehouses

UTC bulyt acciate, ean be set over Hailstock

The numbers of

A quarterly report on export Russia cautious investors buve been chiefly from Imports. The magazine said what below 1958 leveli

that 34,000,000 tons in steci in-

operations sald ship-motion picture film,, synthetic toper tuning.

investors would appear to be responsible for this week's rises,

ventories would mean minimum control By windlinut off the cross slide

diminishing rapidly und the unit and substituting a milling bulls are now in full charge,

working requirements. At the ments to the Soviet Union! were abres and conveying equipment.

during i

COMMODITIES above, rate this level will be valued at $2,400,000

January, February and March efficient of expansion) originally table it offers the facilities of a

BULL MARKET amall horizontal milling magine.

Steel and shipping shares reached in another six weeks.

Commodities licensor for ex- specified. In its place he used The drive to the milling is taken,

The use of 100,000 tons of gempared with $3,400,000 for have been the strongest of th

Most of the in- is all of 1958. week ordinary mild steel, cutting

particular

Shares of foreign steel every not by the taper in the spindle,

Since this

bull industrial markets.

crease involved the export of ports to other eastern European Included tobacco costs by about 50 per cent.

of carbon countries but by a special arrangement of market started in February buildings and allled trades con- something new in the U. S. Difcully was experienced stots in the nose of the spindle, 1958 equity prices have nowed to attroel attention. The economy. It is the result of some 2,100,000

shoots, a manufactured valued at $818,730 to Czecho

slovakia end Evet Germany, obtaining a correctly wound heat-thus avoiding the danger risen, on average by 63 per main tople in company affairs is thing that has been building up steel

steel product. current strike

corn $650,240 to Bulgaria; crudo ing element. This was overcumage to the taper bore.

cent. The average yield is now

IMPORTS come sill the fit for Harrods stores long before the

for the Government statistics

sulphur $515,000 and dimethyl cent having it with mounting an angle plate on the by winding

4,03 рег

Frazer andi House of

U.S. imports from the Soviet terephthainte, $204,960 to uniform light tension to avoid milling table, surfacing, boring down from 7.13 per cent at the

Ola Debenhams conlfulng to outbld second quarter of this year show excessive tightness of the wire. and end milling can be carried

steel imports exceeded exports Unicu daring the first quarter Czechoslovakia and soybean oil, bottom in February 1958,

ench other.

Work of 1930 for the first time since

also reflected on in- $163,050 to Rumanla. which would cause breakage. out. Ju single setting. It may Consols yield 4.71 per cent so

trade. tctaliing Other markets tended to bo War II. Imports are now running crenso

Most of the actual shipinent Finally, he solved the problem thus be

gap between the

the boom m

at an annuni

of $530 50,615,000. Most of it was for to non-Soviet nations overshadowed by

After a dull tax million restrials,

or four million tona, benzene, chrome ore, platinum Communist eavery late last week and carly ulls recovered a little but the compared with 1,500,000 tons in and furs.

This compared with $17,001, Poland. The 1056 and 350,000 tons before the this week. Short-dated stocks tone was still uncertain,

000 for all of 1950. Imports

come

of

By

for machining Liscel

For the metal worker, boring

is also a machine process for

them and

п Gilt-edged staged

A

revival of interest

Tale

LITE

worth

tural

ments for everal months, buyer: offerings avere few, prices firm,

showed less interest in sinal.

and sellers anticipating now. agricultural twine requirements both here and from Europe.

Homp continued - in supply with demand offerings and prices firm-UP,

tight exceeding

Bank Of England Statement

London, Aug. 23. "The Bank of England state- ment for the week ended August 10, reads as follows:

Notes in croșiation. £2,148,211015 | Pušile deposita

Private, deposily

Goverminent 'Bourities Other securities feceipte

Motio

15,426,230 303,476,120 2233,061,553 34,011,794

57,281.218 18.3

-UP!

Bank Of France Statement

Pacis, Aug. 23.

state-

ended

in the of heat transference to the simple press tools. Keywaying equities is now very small, handle by cutting short the cup of sharts is also a simple matter.

bloc were agricul- fer products destued per alloy expansion rod and Jon- ing it to a metal with low con- ductivity. This idea is now the which the machine is suited.

Despite the Increase in East- were the first to show signs of market ta rubber shares has also war. saw For the wood worker subject of a patent application.

As for the other sectors of the from all of costern Europe for west trade, exports, to eastern ulting life but they turned quieter as been uncertain. The company now manufae-bench is available with

in in U. S. economy, such as sales and the first three months totalled

The Book of France Europe for the first quarter table and a epockaš stub arbor attention turned to the medium

the ture two models of this thermo-

week amounted to less than one halfment for issues. As the shores has also been uncertain services of all kinds, new highs $22,200,000. and long-dated atatic soldering ir 70 wali

for carrying the saws.

ended, however, the Activity in gold

At the same time, Mueller of per cent of total U.S. exports. August 18, reads as follows: mining were being recorded despite the iron for production and repair With a stable cutter mounted wetti

confined to one or steel strike. Retall sales for said the value of export licences imports from the Soviet bloe

Total gold holdings 291.002.323.500 work in radio electronics and

and employing volume of switching into equi-shares was on the api«!le"

Issued U.S. firms for shipments came to sixteenth of one per al other currencies 10,000,730,993 other small work, and a 500 wait the rise and fall feature of the ties outpaced the buying and two specialties with Free State example, set July record of $18.2

tito cased. Foreign bonds gold being

most pro- billion or 9.1 per cent ahead of

eent of total Imports.

Right balance abroad headstock, rumbing, duvetalling, prices

The United Sales trades only Total bills discounted 1.439.009.537.013

IZPU

201008,000,000 Both models will be displayed grooving and spindle moulding were almost out of the picture nont, With Aurther news of July 1950, Department sales into Communist bloc nations rose are running nine per by $000,000 during the second

with Communist nattons in Banknotes in circula- at the can be carried out. A saling except for a mild fluctuation of African disturbances investors. Augus) on the DSLR. and

August, 1950, quarter of the year to reach a Dollar stocks were have turned cautious but the cent ahead

Europe. It carries an

************ $387,073,319.000 Scottish Industrice Exhibition disc can also be mounted on the Greeks.

record breaker, total of $7.247,000, strong buying from Joharines, which was a

Second quarter capoet Beences with Red China or North Korea. Current accounts and

depcalis

233,131,052,432 (Ginsgow, September 3-19) with spindle (Murad Develoxats Irregular.

prices to calty | Auto sales were continuing at

found $3,300,00 in goods-UPI. In industriais the market not burg caused other,

Dylesbury, science-Lid, examples

Stocklake,

ie last clip in August.-UPI. only has been strong but also UPI. based ideas in Scolleh Industry, Bucks.)

Iron for general workshop use.

of

of

nono

Francs

UPL