1959-10-19 — Page 9

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THE CHINA MAIL, MONDAY, OCTOBER 19, 1959.

Weekly Survey Of American Economy

Page

ENFILE ECONOMIC GAINS SLIPPING

A New Console Steel Strike Damage US. STEEL

Form Computer For Office Use

A NEW computer--the first of its type to be made

Rapidly Mounting

New York, Oct. 18.

U. S. economic gains, which piled up so

SHORTAGE CUTS CAR

Wall Street

Has Week Of

earlier this year, continued to slip away fast, this past PRODUCTION Fluctuations

week as the record steel strike grew manageable proportions.

commercially available in desk console form- has been introduced by a U.K. firm. Built to the requirements of modern industry, the computer has been designed on modular principles to allow for simple modification or expansion at any time,ood in the long run, postponed thus insuring against obsolescence.

It will provide necurate solu- tions to a wide range of linear and non-linear dynamic prob- lems. It has comprehensive control facilities, inherent ftext- bility and automatic program- ring facilities which make it particuarly applicable for use as a simulator of all types of auto- matic servo control systema using electrical, mechanical, hydraulic and pneumatic layouts in in-

neters, initial conditions and function generators to be speed- and ly and accurately set-up permits supplies and computing junctions to be Instantly moni lored to 0.1 per cent accuracy.

The unusually comprehensive and amplifier passive networks control circuits incorporate sistore and capacitors which are highly stable.

Acy

re-

The overall computing accur- dustrial and military felds;acy is enhanced by the system nuclear reactor kinetion, And +100V reference supply, which the investigations of aerodyn- has long term relative accur mic, hydrodynamic and thermo-

of +0.005 per cent. Aller- dynamic systems,

bntive computing components for special purposes may readily be appiled to any of six ampli- fers individually, or any group of tve amplifers. This ensures the maximum utilisation of available capacity.

It is also suitable for the analysis of Industrial process the control systems and for

Bludy of heat transfer problems. vehicle suspension systems and the investigation of the problems structural vibration and

of stability.

The control, monitoring

and all programming facilities

are contained pansive networks in a temperature-equalised unit mounted above the desk Sur- face.

TECHNICAL FEATURES

A central detachable problem storage board allows problem and simple patching, with many connections using two-pin linke when they continually recur, thus avoiding "clutter." Prob- lems may be prepared away from the computer itself.

A five-digit digital voltmeter

coeficient enables

potentio-

Large Capacity Milling Machine

LARGE capacity milling machine, specifically dosigned for machining sur- faces up to 8 ft. long x 4 ft. 10 in. wide to close limits of accuracy, has been develop

The unit includes in its com- plement of computing units four pervo multipliers, wo dlodo function generators and other non-linear elements, which allow specific problem non-linearities to be atcurarely set-in to it.

A high-acrumney automatic timing device using a DC ampli- fer is included for operating the computer under controlled cycling conditions. This is of particular use and importance in, for example, the exploratory analysis and evaluation of 1 problem whilst the system para- inetes are progressively changed. Any part of the computer can be in the "reset" conditions whilst the other part is com- puting, and when some determined time or anpiltude level has been reached the "Inverse_React" line сал bo energised, so switching the re- mainder of the machine into "compute." Thus the first part of the computation can be used. to establish the initial conditions of the remainder.

pre-

Problem check and scaling facilities are incorporated for positive problem verification and for the speedy checking of the

ed by a U.K. onginooring Manual or

fully programmed computer.

automatic decade

firm. One of the chief at scale factor changes may be pro- tractions of the machine,grammed the whole or any bar the makers claim, will be its part of the computer.

"relative inexpensiveness.” The computer is contained in a dusk unli 30 ins. long, 30 ins. The machine hús a simple high and 38 Ins, deep, with the design. It has cast-iron bridge. type columns which are balled control unit 60 ins. long and of maximum (front edge) height to the bed and secured at the top

of 12 in. above the desk sur by a cross rail. The cross slido

face. which is vertically adjustable on the slideways of the columns curries a single mliling head.

The cutter-head unit comprises Cold-Setting

4 rigidly mounted spindle assembly carried in a 7-In, diameter quill, which is arrang- ed to give 6 in. of vertkal rise and fall movement, and is counterbalanced to permit rapid adjustment by meing of capslan handwheel. The spindle is mounted in taper roller bear- ings and is driven from a 8 h.p. motor through a gearbox which provides elx speeds from 50 to 500 r.p.m.

VERTICAL SCREWS

A motor and gearbox built into the rear of the cross slide provide for raising and lowering through vertical screws and nuts ot 12. per minute up to 4 maximum distance of 40 ins. between spindle nose and table.

milling The

head traverses across the horizontal beam with teed rates from 0 to 24 in. per minute infinitely variable and 60 in, per minute fast traverse This feed is obtained from a 1 hp. D.C. motor and Ward-Leonard set, Largo dia- mater handwheels are provided at each side of the cross sildo for hand traversing.

D

The table measures oft. 9 in. lung by A ft. 10 in. wide. It has a longitudinal traverso, in Anitely variable from 0 to 24 in.

per minute in either direction.

Fast traverse at 50 in. per minute is also provided. The table is driven from a 2 in: diameter screw and rubs

on

|

Coatings For Export

RANGE of cold setting catalysed coatings for

The government, told by wil

Injunction would not do any

sides that a Taft-Hartley Law

until next week any action that would result in calling the half million idle steelworkers back to their Jobs for at least the 80 days the Injunction provides. It did so on the basis of a glim- mer of hope that a negotiated settlement by next week might yet be possible.

Damage

As the strike entered the 14th week, lis damage to the economy was rapidly gaining momentum. government estimated Tho some 250,000 workers have now been laid of in aflated in- dustries as a result of the strike and put the gure of addlilonal new layoffs at 25,000 weekly,

It warned this rate may soon WaRes be doubled Losses in alone to those laid off were put at $750 by the government million.

Total losses, direct and in- direct, in wages, sales and taxes strike resulting from the steel wero estimated by Steel Maga- tine at $0.8 billion.

to

General Motors In Detroit alone laid off some 37,000 work- ers by the end of this past week and served layoff notices 10,000 more. Among them for the first time were several thou sand employed on the assembly to now. lines themselvca. Up Detroit layoffs have affected only accessory plants.

Allegheny Ludlum, one

sicol America's smaller panics in the grip of the strike, was the first to issue an earn- ings report for the third quar- ter. It showed a loss of $3.9 million after record earnings in the first and second quarters.— UPI.

of

com-

STEEL STRIKE

LOSSES

Cleveland, Oct. 18. Direct and indirect losses from the nation-wide stool · strike will reach П estimated $8,500,000,000 by October 10, Blech Magazine said today.

fald The industry · magazine

sales will mount to $2,898,000,000; lost sicelworkers

into

almost un-

HEAVY TRADING

IN LONDON

DURING WEEK

London, Oct. 18.

Detroit, Oct. 18. Steel shortages slowed the assembly Hacs of 1900 model-car production for the first time this week and

boosted layoffs In General Motors to the 60,000 mark.

New York, Oct. 18.

The stock market moved up and down with the news from the steel industry during the past week and closed on a note of strength that left all leading groups higher on the week.

Traders moved cautiously. Their total business for the week was the smallest in more than a month.

At the same time, the car in- dustry reported near-record Wall Street, judging from the sales of its new models, putting market performance, regarded a a tight squeeze on the avail-steel settlement by negotiation ability of new cars.

And

as bullish, and a fight over Word's Automotive

Tatt-Harley application as bear- Reports, statistical agency for the car in 1sh. Each time it appeared as it the Union sold management dustry, reported dealers more cars in the first 10 days or would get together the market this month than in any other receiving a busing aidk. new model introduction period · The list moved higher on Monday, Thursday and Friday, 11 declined on Tuesday and Wednesday. The result was e narrow range at the end of the weck.

TEMPERED

for

This past week has been an avalanche of trading on since record-smashing 1935.

the London Stock Exchange such as has never been known in living memory. The spate of But Industry enthusiasm profit-taking at the end of the account was the fast selling pace was tem

ment of stoel shortages on quickly absorbed by the rush of buying orders. Pred by the steady encroach- With this heavy trading in the new accountability of the manufacturers tu

keep turning them out. there was also a disposition to take profits and

Motora General the last few days of the week saw some irre nation wide survey of its parts, accessories and ssembly plants gularity.

Foreign interest In the Lon- don markot this past week has been relatively small and 15. to have lavestors are thought been selling in the hope of re- entering the market at lower levels later on.

The gilt-edged market this past week has been much firmer and prices are back to level: not Been for the past two months. Institutional switch- ing in the medium and long dated

government

stocks

Japan's

Economic

Picture

Improves

lost

weges, $998,850,000; tax losses The

для

to the US. Government $630,000,000; and leses through overhead, depreciation salaries of non-production work- ers $552,000,000 for a total of $5,078,800,000.

MALAYA'S

PIONEER INDUSTRIES

upturn

re-

B1

were

4

BRIGHT SPOTS Aside from the steel news the general business picture had many bright spots." Automobile 1956 and sales moved higher-best since production during since

д made

throughout the nation and an-

created a much better tone. Innounced total layoffs due to steel shortages numborod 60.000 as of addition there was a small re-

close of business last Saturday. vival of interest in the coupon shorts.

That figure already included

low-

ADVANCE The force bond market has teen gulot with interest stili centred elsewhere. Greeks and Chinese have botis boen firm). Dollar stocks have been duli

since the electiort and the prem-

ium disappeared until Friday when it was quoted at 4 per

cent,

Despite the profit-taking In- dustrial pricus have continued to advance The Financial Times industrial ordinary index roso and the work to 280.7. They were particularly strong on Friday whan the Index rose 2.3.

A feature of the market has been the disappearance this past weak of the indiscriminate buy- ing which followed the election last week. Investors are now seeking higher yields and good carning DOVER for their dividends,

the week was the best mid-May. But next week will tell a different story with many

auto workers laid out for lack of steel.

Many corporations Issued highly favourable reports for the third quarter and soveral raised their dividenda от

do. clared exists. `

WA

the

MISSILES, ROCKETS

When the market was in rising mood it usually dominated by strength In the space age issues, notably electronics. There seems to be an impression that the US, L going to step up its spending for missiles and rockets to outdo the Soviet.

Steel' shares had several good when it appeared days, rising ns in strike settlement ap- proached. The whole market was strong on Friday when steel negotiations resumed.

Tobaccos had a good week.

intervals on Ermer prices for the Copper issues strengthened at

metal brought on by shortages resulting from strikes in the industry, Railroad issues follow- ed the steel shares higher,...

Sales for the week totalled Steel production held around 11,543,106 shares, a daily aver- one Chevrolet final assembly the recent 19 per cent rate and i *** of 2,908,671 shores. This plant, and another was due to

compared with 11,820,845 or be hit next week. Two thirds of coal output ronn a mite. Cooler dally average of 2,312,580. shares

and Columbus Day in the previous week, the workerN

promotions lifted retail trade

which was 3 to 6 per cent abova,

at the Chevrolet weather 45sembly plant in Janesville, Wisconsin, were scheduled

lakt off next Tuesday be cause of the steel strike.U.P.I.

to

New York

Cotton Market Review

2

The

Dow-Jones Industrial

up a year ago. Unemployment de- closed the week 0434 clined, but less than seasonably. 6.24 points from the previous

The Federal Reserve report on week, ratis 159.09

up 1.12; Its production Index for Seputiilty, 68.15 up 0.22 and as tember showed the strong stocks 214.08 up 1.73. vilality of the

economy. The

indax dipped only' a point to 148 where it was seven points under the high made just before the steel strike started.

Volume leadership went to Thiokol with 346,400 shares. It closed the week at $51% up 21⁄4. -UPI.

Big Demand In

New York, Oct. 18.

closed hollday- shortened week of four Dessions in

of a note strength.

At Friday's close the list ruled 21 to 38 points--$1.05 to $1.80 a

bole-higher than the preceding week. The gains represented the widest upswing for any week since late last April

FIRMNESS

U.S. Cotton

Goods Market

Weavers of

New York, Oct. 18.

The buying movement under way in the cotton grey goods market since mid-September picked up considerable speed this past week.

apparel type Fears of another infation fabrics, where most of the ary wage spiral next spring; demand WAR concentrated.

Colder weather coach fia Lope wohloved the best sold-afvend | • Dullish sentiment, which built position sine the post World War part in speeding up the sale of up gradually, reflected firmnen 11 days, whic price pushed clothing and other household in the October coNATACI

before ahead to the highest loved "Es Items. its expitation on Wednesday, more than 3 years, plus the increasing favourable tenor of news from the dry- A wide selection of fabrics

trade, goods

where buyera shared in the buying splurge, scoured the market for goods including print cloths, combed for delivery into the third quar- broadcloths, and poplin. ter of 1980.

Most of the profit-taking last week did not come trom Insti- tutions but from private in- dividuals who were converting Washington, Oct. 18. into cash their very substantial

U.S. Government paper profits brought to them Cotton publication "Foreign by the election rises. Commerce Weekly"

MOTOR SHARES ported today that there The Federation of British has been 巋 general Industries most cpianistky survoy in plus some good company state- economic The total loss figure included

ments went the industrial mar- Arst estimates of losses

Japan during the through

kez on a further upward swing layoffs and lost sales

Steel in other half of the current your, as tho weck ended. Industries and from damage to But it warned that an August { shares were in demand and

and the mis steelmaking equipment from advance in wholesale and retail prices roso well

blue chips did the 13-week trace-UPI.

prices was a "disquieting sign cellaneous which tended to suggest that specially well. Motor shares mild inflationary prosures are made a good showing on Rootes

and Rovers published figures. building up."

The article the weekly was) Rubber shares have boomed prepared from reports by the this past week chiefly because U.S. Embassy in Moscow.

of the relatively high yields It said that Japan's foreign they offer and many of the profit-takers from the industrial

The only dim spot in a bright exchange reserves reached

into rubber

picture appeared in the Indus- ull-the peak of $1,201,000,000 market switched at the end of July 1959, pri- plantation shares.

trist: fabrics sections. The pro- marily as the result of defla- The kaffir market was thin

longed steel strike, with the increasing and sensitive this past week

layons Jp the Lonary casures which

automobile Intțustry, cut dowa and socmed

Even the rise. undertaken in 1957.

Anglo-American group quarterly

buying of heavy cotton fabrics MORE EXPORTS

With the grey goods market in

usually going in that direction. reports failed to pull the market The generally

Buyers Booking spot has issued a list of eight

favourable up. The fact that the index rope the strongest position in more

But despite the buying full in was 0.5 points on the wook was than three years, mills and other nearby goods found industries and 14 pro-economie picture, it said, increased

unobtainable. fact car making, prices on cloths beki highlighted by

ex-only due to selective support trade interests were attributed most ducts which are likely to ports, especially in the United from Johnnesburg.

with price-rising in futures and some print mills were sold 90 to flum. In fact, weavers counted

through the first on a redoubled rate of "car buy qualify for pioneer sinius States; now, peaks in production In common with virtually wil sectaring contracts for future de 100 per cent under the Pioneer Indur- of stool and machinery; a textile other sections of the stock ex- Uvery

Other plantsing as soon as the strike iz against quarter of 1960.

And that aspect· looked were booked 60 to 70 per cent settled. tries (Rellef from In industry "which appears to be change all shares have been forward cloth sales,

on the road to recovery;" and good deal more active. Busines

through the second quartet.. "A" more promising at the weekend, come Tax) Ordinance.-

forecast of another large agri- |In thom fast - wook almost The October contract went off supplies tightened, convertery, mill agents, fall. One of there eight industries cultural harvest. It said, how- trebled. And this resulted in the board on Wednesday at garment makers and plece goods la diamond-poliating.

ever, a devastating September price focreases in all the lenders. 82.50 cents per pounds he best buyers extended buying into the

level for the week.

fall of 1009. The Government" has given typhoon may alter prospecta for UPI. objectare one month to Todo the latter. their complainta

The article said or otherwice the entire Hat- of industries and at Japan's foreign trade in 1959 products will be given tax ex-bas been much the same as in emption concussions. The immediately preceding years. incities agricultural machinose,

"The United States has con=, chemicals, textiles, food pre-lined by a wide margin

cus export paration, motors, vehicles, m-Japan's foremost

somer and souren, of importa. ber and vegetable oil máling,

The products

MONEY MARKET -- "UB, Imports froen Japan, ac¬ cording to available U.S. data, imple totalled $450,000,000 m January- merila the metachment to light June 1959 up more than 50 per ed by raising the temperature and modam bow-power trans cont over the same period dipped

a variety of industrial uses is now being marketed over- seas by a London firm. The coatings dry effectively of 50 temperatures down to deg. F. (10 deg. C.) and ot temperatures down to this level they will be touch dry within 90 minutes and hard dry within oight hours. In one week they give ď film as hard and durable as stoved enamels.

These air-drying coatings are epoxy resin Industrial based anishes. They are applied by brush or spray and produce a finish that is comparable with conventional stoving materials.

They have good adhesion to tement, plaster, wood, glazy, all metals and most palated ́sur- faces; and have high resistance alkalle, acids and caustic to solutions. Good electrical rosis- fance, heat remistion.co, and bungus are also resistance lo

claimed advantages.

Their quick-drying properties are achieved by the addition of catalyst to the base immediately

The

LIBY

Kuala Lumpur, Oct. 18. The Malayan Government

pellet rotary cultivators, tractor mousted heavy dufy rotary cul- tivators chemical

agricolision?!

the paltern

0.5

so that while. the finish taktestors, age, cocido, hosiery “, pind | by' 1.3 per cent with decline in

week to cure fully at 50

one

deg. F. It can be cured in one

hour at 150 dog. 3. (06 deg. C.) or in 15 minutes at 400 deg, (205 deg. C.).

a hardened and ground steel before inserts with precision roller reaction set up may be accelerat- chains for easy movement. It is Aited with narrow guide locution and luper gibs for adjustment.

All handwheels are duplicated on each side of the machine, and principle controls are housed in a pendant awung from the cross tie beum. The machine, can Typical applications would be "thus be operated ·from a wido on petrol pumps, the interiors of variety of poultions, depending road tankers and storage tanks on the nature of the work. of marine tankers, food cabinets Feed and spend selector dials | of froosare, boltin washing are, mowited

detries ongaparnis | mochines in

and cabinet. Limit switches prekrowarles, machinery and plant provided on all power ireverone, in skupini works. e

knitted goods, tinned and exports" of raw cotton, grains bottled frúlla (excluding pinov | and 'mirauft -parts, accounting apple), vectable, câble fagh, for the decrease."

Japan Trade Discussions

The Hague, Oct 13. Discussions sen, underway harp between – Japanese Pilsrullen mind alui romaner the thres Besen Holland, Belgium Bid Luxen- boursin weupertiles, for futurs krude miswake

* kurkum the two parties.

The Economic Affairs Mini-

|

of raw

cotton

UNOBTAINABLE

and them al-

In

Hard

BURLAP PRICES

Abres were

New crop deliveries were ro- Some print cloth mills com | kéng prices continued to recede latively quiet most of the time menced to allocate production to in. faço aris sinckening demand while traders continued to regular customers, a privilege | dom, rope makers and other ponder changes for new form they have not experienced since consumers. Burlap pripw held legislation or wwaited. some hostilities ended 14 years ego, :') frm with Calcutta, and refinetedă. other now incentives.

| the 'sharp; rise by United States Pricewle the altuation consumidon during Beplember. showed increasing strength, the American MYRILIRUDHrs, last traditional market leader the month cut-up knost 30,000,000 B0-quare print sold up to 20 yarda ola purlap, un 45,600,000 cute yard for regular make", Arom August and 1500,000 are at 2971, a more cautio, in arcs 1850 and up 23% cants a Beptember 1602 y madere

from the low of 19% cents evalling last January

ALLOTMENTS

The Department of Agricul- ture announcement on acres allotments for 1960 win the with expectations and had little ppparent market influence. The rege WH dotat: 18,000,000.or the ame planting regulations as count for about hit of that total ENTIAN) MELimited, grint cloth Feruners were gvert the choice fabric production of 1,173,000,000 of exceeding such share of the

for the 1939 crop.

floh. Inabiding Legach mind" - 11 said that despite n high mollusos, cetaces, tinned and level of commercial bank loans stay here annouboed last Batur- bottled most, poultry, age, outstanding Japan's money day that these "prasminary dia- acreage quoin by 40 pe bani în tinned soup, finned and bottled | market remained" moderately | cumdog which are simed at swann tộc: twin přich

and gravies, enoter | epay in July and August, and providing

vehleles god wyntoen emaluding was expected to become #111 negotiations between WADRIS : 87G, motorcycles: art mootor W more relaxed in the last quare the Beeker countries over, the cecuber 16, 2 ́s vad

Woodwort, ter of the your when givera- conclusion cyclos

eonent; groundnut oll, pomart butine and ent permente rise assumably, prozenta groundnut cake,UPL

LUPI.

REASONS