1960-06-20 — Page 2

THE CHINA MAIL, MONDAY, JUNE 20, 1960.

Weekly survey of American economy

PRODUCTIVITY IMPROVES

London Substantial market increase

in employment weaker

London, June 19.

Stock markets ended an un- setiled week on a .de. pressed note with busi- ness at a low ebb. Un- satisfactory overseas Trade figures for May, ap prehensions on the score of further credit curbs and the surprise backing of 800 workers by the Hoover Home Appliance Company helped drive prices down. Absence of new buying rather than a burst of selling pushed the Financial Times industrial index down 10.9 points on the week to 317.7 against the year's high of 3429. Fears of a higher bank rate increased uncertainty, although Thursday's "no change" announcement made little pact,

New York, June 19. America's overall productivity marched up again and employment increased substantially despite continued weak- ness in certain sectors, notably steel, latest statistics showed this week.

HONGKONG West Germany Development of

STOCK

EXCHANGE

Our Own Correspond, met

Business done at the Hongkong

Stock Exchange this morning $2,805,000: Noon quotations and

athounted to. approximately

the morning's transactions:

Mkáren, Bügers Bellers. Jajes

30 €1205

200

Union Ins. 334 What Co. 2 stato in eis Waterbost

25 Whestock

1800 3.50

The rise in productivity was afper cent gain that month in mere one per cent in May-110 automobile assemblies. Output HK Dock per cent of the 1957 average base of consumer goods and busines but it was the first since equipment increased to the re- January, the Federal Reserve cord rates reached in January. Board reported. This compared with 109 por cent in April, and 100 per cent in May last year. per. eral-was The peak-111 reached in January this year.

The gain was recorded despite deepening production declines in the steel industry which is cur- rently operating at rate of capacity in the low sixties. Last im-week's ouput was 1,756,000 tons or G1.6 per cent of capacity. This week's schedule calls for 1,775,- 000 tons or 2.3 per cent.

Individual industrials moved reflecting against the grain higher profits, better dividends and increased activity, but over the week blue chips of the Im- perial Chemical Industries, Rolls

Slump in steel

All agreed that the slump in

|

113 113

800 # 133

suffers

labour shortage

By Lionel Walsh

Bonn, June 19, Labour is so short in West Germany that some frms are offering school-leavers mopeds, scooters, a bonus of up to 1,000 West Marks (about £83) and two months extra pay for. holiday and Christmas as an inducement to become apprentices.

Bavarian hotel keepers are to roughly three to four per 100114 threatened with having to in-cent

new type of silicone rubber

London.

New silicone rubbers have been developed which can be cured at room temperature and can thus be used where ordinary silicones (need- ing high curing temperatures) cannot be employed, writes the Financial Times scienti- fic corespondent.

These are claimed to be excel-

lent materials for sending, patch-

ng and potting where extremes Heart viewer

of temperature are

the Federal Reserve Board said, Provident 213 2140020.89 stitute self-service, and hove Some fish are suffering expected.

Employment rose to 672 mil- lion in May-up one million from Apt and a new high for the month.

HK Hotel. Unemployment dropped to 3.5 million, down 100,000 from April | HIC Land.. but still some 70,000 higher than in May 1959, the Labour. De- partment reported.

The May level of unemploy- ment, however, was still below Land (Right) the record high of 87,594,000 Youmati

HK Tram reached in July last year,

Ch. Light, The unemployment rate was down from five per cent of the total labour force in April to 4.9 per cent in May-still substan

officials would like.

10100 000

402 4235, 2000

what

A

ما

ote

ultimately

They are also said to be sutt-speeds diagnosis

500 30-50 Issued leaflets containing the from

newspaper labou psychosis", able for moulding silicone rubber Warning: "Bavarian Hospitally called

and going 21.20 is in danger."

extraordinary parts when heat curing is unde- sirable or when the cost of con- Apart from seasonal flutua- lengths to lure manpower of ap- 2000 100tions, monthly reports on the prendees into their factories yentional rubber moulding is not

Justified. 68 5811⁄2 1000 @ 68** labour situation show a steady and workshops.

5000 $815 Increase in the shortage.

200 $81

Anton According to Herr 100 @ 58 Sabel, President of the West 900 68% German Labour Office, only four 1400

unemployed people were avall able in May for every ten jobs to be led

58

313%

$

The number of unemployed 22.70 fell by 67.821 to 188,764 during 80 April, and the number of vacan-

1800 22,70

The Government is doing its best to help, and has negotiated agreements with Spain and Italy to import labour, Since January, 25,000 workers, mostly for the building trade, have arrived from Italy.

RECRUITING

À German

employment

200 @ 22.70 cies increased by 6,980 in a agency was opened in Madrid

Baie showed losses along with the steel production will continue tally higher than administration Rec. 25.15 2015000 country in which one in every in March, but ane Duesseldorf

calibre

the tobacco leaders.

RATES

had International Harvester,

for

through July and August. In that

several summer period plants intend to close down com- dilt-edged securities moved i pletely for one or two weeks. into lower ground and their Plans for this have already been biggest falls came on Friday announced by Crucible Steel and after the Chanecitor warned future demand

The May productivity included supply, drops in output of coal and oil. capital would outrun The market read into this that Yok overall productivity in the government expected increased on the basis of increases terest rates to keep high,

in utilities, output of apparel, President Eisenhower's abor-furniture and television sets, tive Far East mission brought | And there was a significant five weakness to Japanese Bonds,

Falls in asserited ran up to £9

and in non-assented bonds up

to 28. Greeks were eüsler on balenco.

Der stocks receded.

Gold mining issues met Lan don and Cape buying Friday which lifted prices but the movement lacked support and the best gains were not held. Otherwise gold had drifted through the week and touched a new low of 63.7 in the Finan- cial Times index against the 1957 low of 65.5. Coppers kept on the downtrack under the shadow of the Belgian Congo situation and thus turned mixed on proff-taking.

Oils remained a lack lustre market and were caster over the

week.

Rubbers and teas, were par- rowly irregular.--UPI

OVERSEAS

Government

publication on trade

and industry

Between four and 4.5 per cent would be more consistent with a period of prosperity.

Factory work

28.40

What encouraged the admini- stration, however, was that in G. L. Cement

Dairy addition to rising employment Watson ... 25.90 the average factory work week grew in length from 39.4 hours Allied Invest in April to 39.8 hours in May. This was being ascribed

Textile

to a Nanyang

"rebound" from factors that had shortened the work week in Amal. previous months bad weather, Trom illness resulting from it and fast | Realty time due to April's religious holidays:

The longer work week also boosted average weekly factory pay to $80.74 in May, up nine cents from April

The motor industry operated at fairly high levels and

ol

HIK Gar

6.20

**

30.83

400 five of the population is either firm of worsted manufacturers 50094 refugee from East Germany, decided to do its own recruiting, expelled from It brought 43 Spanish girls by 1500 à 392 or has been 2300 2 384) former German territories in bus from Spain to work in its

Eastern Europe.

1000 @ 2014 100.48915

500 @ 39%

1000 @ 291⁄4

100 301

300 # 3917

28.00

500

FEAR OF INFLATION

mill

N electronic

Aach which pro-

duces a picture of the Other suggested uses for the patient on a television rubber are the cushioning of screen has been prodated in delicate electronit assemblies,

the manufacture of moulds for Britain. It is now being casting, resins for model repro- used for cardiac catheterisă- duction and tow cost tooling. tion at the King Edward VII In addition, when dissolved in Memorial Chest Hospital, a special solvent, they can be

used to coat organic and in-ear Warwick, England. organic fabrics for use in electri- application and anti-stick been received from the Toronto

The cure times of the rubbers can be varied by allering the concentration of the curing gents. Two of these are avail- able one is a general purpose product and the others slow curing type,

The curing is an irreversible process and the resultant rubbers are claimed to be completely stable products with all the ad- vantages of conventional silicone rubbers.

Big firms are reported to be buying up smaller concerns So far, the nation's currency, which have no relation to their emong the hardest in Europe, field in industry merely in 106 21.99 ans remained stable, but many order to take over the labour 332 26.10 economists fear that on is force. The high cost of train

round the corner unless the ing and complete transforma- 11 9000 11

1000 10.90 trade unions show restraint in tion of plant are disregarded.

Through his scarcity, the ap- 500 15.10 exploiting their strong position

The new products have been the manpower prentice has become a highly 1000 14% afising frofi 7.40 3000 4 7.45

They have already privileged member of West developed by the cones de 2000 a 133 shortage,

come forward with demands for German society. In 1958, about partment of the Nobel Division 8.60 8.80 2000 1,80

vailable apprentice of Imperial Chemical Industries. 1916 1.50 6000 or 1.96 wage increases of between 10 200,000

[email protected] and 20 per cent, and with ships were not taken up, and Reuter.

1000 @ 1.90

still shorter this figure is expected to in- 34.20 14.30 79301 cladis

6101420 working week and jonger holl-crease to 500,000 this year. 5001420 days.

15.40

714

Lane, Craw. 42%

Int'l

Invest

tor i

*

50941

1000 12

But Herr Karl

1000 @ 4214

1000 8

2500 4214

500 B 6014740c

58

10 @ 94 10415 110038

so far there was no slackening of Sh. Goa the pace that would herald the Wing On model changeover in the summer! Amoy months. Last week Detroit Talkoo completed assembly of its four- Gilman

... 2.025 2.16 millionth passenger car of the HK & FE

Invest 14.70 15.20 calendar year. Production

(Rights) 166,878 cars and trucks Fast week pushed the total 1980 pro- duced by the Hong-duction as of that time to Government are a 4,071,658 units compared with source of never-failing 3,504,909 units at the same thre

a year ago. amazement.

THE publications pro-

kong

of

Their latest comes under the prosaic title of "Directory Commerce. Industry and Fin- 1960." It obviously is intended to appeal to people both local and overseas in these cate

ance.

COMPANY | gories

REPORTS

But this is not another of those

sxonomic

The car industry also served notice it will complete the as- sembly of its millionth compact car of 1960 within the next week. By Last week's tally the 1980 (calendar) output of American- made compacts stood at some 880,000 units.

However, car production still fat volumes packed with bewas keeping well ahead of sales wildering colors of astrono- despite a fast sales pace which mical figures and weighty coffell only under levels of five

abstruse ments a

years ago. Car experts pre- New York, June 19. subjects.

dicted the coming summer The American Can Com. It is the kind of book that the

pany has filed a registra-businessman will have to rescue and autumn will be a bargain tion with the Securities from his wife if he wants to take hunter's paradise in the US. motor markel as dealers will It home and study it carefully. and Exchange Commis- It is filled with coloured and make every effort to dispose of sion for an issue of $40 black and white pictures of at high inventories. million of 30-year deben-fascinating place called Hong- tures. The company also kong which everybody seems to

New cars

be talking about these days.

Remember, large numbers nt

the glass container busi-

announced plans to enter

ness

OUTLINE

märket.

3.95

Hamburg reports speak of

|

Blessing, apprenticeship agreements made U.S. Army tries

President of the Federal Bank, with the parents of 12-year-old issued a warning earlier this boys, before the chlidren even year that "Wage increases ex-leave school.

Apart from bonus offers and ceeding the rise of the average productivity of the West Ger- extra holiday and Christhas mary economy will almost cer- pay, apprentices are also being

paper uniforms

New York.

Quartermaster Corps is up to its neck in paper."

the latest thing in In tert paper chop, disposable paper uniforms.

800 & 574 tainly lead to price increases." offered free cinema, seats, ex: The United States Army

Не said that the price cursions, and, by one Hamburg strtoure could be preserved if first, even fatlitia at a pri

were restricted vale swimming bath, specially wage incrcules

built for the younger members of the staff,

TEMPTING OFFERS

Ike's Japan visit postponement helps Wall Street

New York, June 19.

The first oversea's diet has

General Hospital, Ontario, Canada. The machine will be delivered later this month.

The Marcoal X-ray Image Amplifier, as it is called, was developed from a prtotype made by Dr George Simon," radiologist, and his colleagues at St Bartholomew's Hospital, London.

King

Dr John Raison, of Edward's

Hospital, said the machine would help to throw new light on the working of the heart." It may have big appli- catkins in the diagnosis and treatment of evromtry disenstÀ,

The new machine has eight" ̈ ̈ main advantages over conven- tional X-ray screening. These are: doctors and patients are ex- posed to much less radiation; examinations ói, say, the beart can be done in daylight.

With conventional equipment a Kadiblogist making a · Visual examination must waite 20 minutes or more in adapting his суш to totså darkriese the patient is reassured by being in

the light and not in darkness; the Investigation is speedy; the picture is bright and clear with definition more than twice as The Quartermaster Corps' high as that of normal television Few wonen want to take up malectal testing group is send- pictures; a cine camera can be domestic work in West Germanying soldiers scrambling over used to make a continuous re- these days, and, dally helps" | obstacles,

through word of the large fluorescopic

Growthy

can

woman who taked-end got a paper will take before the gatetion; it is possible to operate

can take their cholos of any pipes and genemy giving the marines and much redds are number of temptin" offers.

new uniforms a rough going valuable for condition and The State Labi Office in

over, The Corps is trying to for teaching the picture North Rhine Westphalia has on find out frow

much wear the be magnified, abản kho its files the case of one char

"Held" for prolonged examina- ments must be replaced.

additidral independent televi Paper-based chothing also has sin monitors and this akath is made its

appearance at Fort

wage of 2.50 marks an "hoite, (about dive shillings sterling), inchating the time spent travel- ling, together with the payment doctors and of her tares, and a breakfast consisting of coffee. quarter of

London money market tight

after use.

Sam, Houston, Texas, where valuable for teaching for in nurses are weat-xammation can be thown w several hundred students gåther- testing surgical caps, gowns,

and bibs made of at a distance. a pound of butter, a quarter of masks, boots

Dr John Wearing consultant. a pound of sliced neat, and baper, which can be discarded

radiologist at the King Edward eight bread rolls.

Experimentation in the use of Hospital said time was cat by a A fish-tinning factory in Premier Kishi's government came to the aid of the

Hamburg advertised for women paper clothing began when en half, radiation exposure cut by stock market late this week by calling off workers in the following terms: gineers for American Cyana- up to a third, and risk was re President Eisenhower's visit to Tokyo.

Mostly you will work sitting mid Company, parent company duced. He added: "It is radio- down. For a very small charge of Cyanamid International, de-graphy made easy, This new The market closed the week | Activity centred on Standard you receive a good meat from veloped a melamine resin pro machine is likely in the future to cess which showed the way to become routine in general Dealer stocks of new cars were on a firm nota after a series of Coll Products which this week our canteen. Just imagine.........

wet-strength paper. hospitals.IPS. this directory overseas and estimated at 1,050,000 U.S. built declines Had the visit gone as changed its name to Kolleman for once you do not have to practical year, and 11 immediately be- cars at the beginning of June scheduled, the market might Industics. The stock, whose cook. And before an evening Mr William C. Stolk, the comes a very clever form of and some 1,000,000 imported have run into heavy weekend company makes television tuners out, you can have a shower in cars, with the number still sing as traders worried over and airplane insinuamente, re- our modern bathrooms, Reu- Chairman and chief executive trade and tourist promotion.

President's safety, Wall gistered a good gain on reports jer, officer, said the proceeds of the The idea it must put in the growing. Another factor disturb the

it will show favourable earnings. issue would be used to reduce minds of many businessmen, in-ng dealers this year has been Street experis said.

Despite the Friday recovery. Sales for the week totalled. 698,- but loans, of which 934 mil- vestors, traders and manuface sluggishness of the used car the market closed tower, on the 800 shares and the issue closed Hon was incurred in the recent turers is. "This is a place I must

One interesting footnote to the week in the industrial and rail- the week at 27% up 3% polata." acquisition of the Allison Luro- visit to see things for myself."

troubles of the steel mills is the road categories Utilities reach- ber Company.

1-dict

NO MERGER that production of ed a new high for more than He said the company's Initial

aluminium continues al record year on Wednesday after 11 Universal Match focused a investment in the glass con- tainer business would be about

This book gives a brief outline levels. Aluminium output in the straight gains and held a good tention on vending machine of the local economy and serves first half of 1960

large i $6 million.

is being gain.

issues. It spurted on CORRECTIONS than seven as an excellent introduction to estimated at more

volume when it set up a Mr Stolk said the company

trial Money remained fight early The sell-off that came despite installation at Raf. Madyand

in the week with the rate would enter the glass container anyone desiring to trade, ship or per cent over the corresponding

business with the period of 1989 which was a re- several highly favourable Company's New York City store, field by setting up a subsidiary transact

for day-to-day loans firm cord year in itself.

reports on May business-its machine accepts paper money in which it would hold a Colony.

at 4% with 4% pald Early In the words of the Direc-

output of U.S. higher. Industrial production from $1 to $5 as well as colns majority interest. The remain- Ing stock interest would be held tory's own introduction "It aluminium is currently at some record May employment, record and rejects counterfeita.

for special lines. Later in the week the stock Some money was borrowed by the Wheaton Glass Company Illustrates the pattern of the 5,700 tons. The total ip May personal income, a levelling-off

Indus- was 175,000 tons, an increase of after a decline in mortgage de-slipped from its high when it from the Bars of England af of Millville, New Jersey, which Colony's trade" und

mand from Federal Housing Ad- denied it was negotiating to live per cent. There was an im would supply management ser- iny and indicates the mea-one per cent over April, vices and technical assistance sures being undertaken in col The answer to this seeming ministration was

at merge with Universal Controls.provement on Thursday with for the new, enterprise, t

laboration by the Government, puzzle is the increasing use of technical correction after Last American Motor was applies of credit dequate for Decond place là manh on 200 the rai các te wo Lates American Can's chief commerchants, and manufacturers to glumim in a variety of pro-week's sharp gains.

Industriada last week had 400 shares, closing at 23% of down to three per cent pre- petitor, the Continental Can promote Hongkong's trade, pat-ducts, notably gine blocks for

cars-UPL

record weekly fles of 25.90 134 Univered Maich rose 13 vailed, t Company, is already in the glass ticularly in the field of exports.

points th the Dow-Johde average points to 18 of 277,100 Shares ova was modest container business,China MajlThe first three chapters. Be

adininilla-

This week. Special.

the Nad, in fourth place, had 238,100 with August, Beptember: "and favouritel ki that evenge slipped shares, plosing at 64% up 1991; "fine" "seting of 4-9/16%- lower, ficluding steels, chemiz Lear saths 4 un 191,000 shares

The Treksuky bill vistar Towe call, compacta, electrical equip and, Pilzer 234 cm 189,800 shares strait 1/16th to £3, 15%. 7346. ments and rubbery, w The industral average. Closed

Traders turned to other groups the week at 650 Be pa so points per conte Cine Mail Spenali not represented in the induslela, wallrosa 142,72. of 3.20, utility

peribe the colony's adminika Bank of England

development: chapter 4 as- bear London, June 19. sembles the Ballent facts which a Shell International Petro- businessman would require who Jehm Limited announces thinking of investing y that effective June 18 It business here other chapters deal with the Colony's resources

statement

Idon June 19,

seen

of

London, June 19.

The Bank of England state-average which had a valt on 9225 31.84; and of locks Agreed merchant

is reducing spot butter and services, the broad older) and

priced for marine fuel pil of trading practices and proct June 14 reads as

per long ten. In the fures and summerise features

ratige from of interest to all visitors"

Yokosuka Another excellent 4

and R great GENE

"China" – Mail preet

enditis | Monday and Friday NO LON

They Bought inlo drugs,

chillés Réctronic and fotatós új

2:49:00-1:10-

later totálied 17,701,106,"fiel

fargest week of the

whle