1960-10-03 — Page 2

Page Z

THE CHINA MAIL, - MONDAY, OCTOBER · 3, 1980.0

Weekly survey of American economy

NGINEBRON

STEADY GAINS EXPECTED ENGINELIUS

Mild recession in U.S. business believed ended

New York, Oct. 2..

A few faint signs this past week indicated that the bottom. may have been reached in what is now generally, ad- mitted to be a mild recession in American business.

Wall Street shows signs of recovery

New York, Oct. 2.

The stock market registered its fifth consecutive decline this week but showed signs of making a recovery at the weekend.

CHIL

Fatess came into the st

Thursday following threu į sessions of ensiness, and

21

U.S.

It still was a puzzling pietura

tho overall far us

U.S. Muny economy was concerned. expert economists still refused to say that America was even

In a recession, but most obser- vers were wiling. to say the word "recession" had differed only

nasessment In their

of when I giaried, how diep it was and when it could be ex- pected to end.

Actually, the U.S. economy wus at or near all-time-

highs

.Te"

Q3 Therein lay cession, and the cause for the Batly that an economy is in 11 puzzlement. It is hard to say recession when its employment is at an all-time high, or when personal income is rising. decline

that exports in }

Bul matching

high

August,

employment is an unexpectedly economists this i And many

now high unemployment figure, and on rising steam un bave given up hope for the clouding the figures rovely pcked up

the fact Friday with the list registering nutum upturn in business to personal income was

the Dow-Jones materiatise, with

num that the rate of rise was slower a good its best gala in

than in previous months, a sure Jußer of the talking recession. industrial average since

harbinger of a slowdown. A favourable forecast Brokers noted that the decline. Armeo Steel helped that stock and, This at the end of the week of about 80 points in

ceran the past five weeks had also stimulated some interest in ft the list ripe for technical the depressed steel group. -

very low far this advance

will be carried remains to be seen, ta uhless there is a surp

by

Friday

ACTIVE

Trading pleked up improvement in the business along with the prices, giving

atlask,

further Test of the uncouragement to the bullish

be exeuntingent.

Sales on the week more recent lows con

rise to 10,852,810 shares, on & perted.

technicians daily average of 3,370,002 shares. markcel GAND of the upinkun, that

from 14,930.330 shares, or 2,080, an over: 060 shares per day the week marker was close to sold condtilen at mid-week and before. merely needed a bit of good news to stimulate some buying. GOOD NEWS

Several

The

the

Benguet was the most netiva with volume of 301,100 -stock

shures. It closed at 1% un- changed on the week. · Ameri-

Treasury Secretary, can Motors, General Telephone, Robert Anderson, provided some. Ampex and Standard On (New

of this good news with u state. Jersey) ment that the outlook for remo- Ave, mir activity In this country ts sells for favourable bith for

future and for

ahead.

the

Innby

rounded out the top Only Jersey Standard

this! above $30 in hear roug, and 11 finished ut 40% up. years

|

London Sugar will pose

stocks decline

London, Oct. 2.

Stocks onded the week de-

pressed after giving up

an early show of resis

Dose This remarkable

film

big problem for U.S. next year

Washington, Oct. 2.

tance to Wall Street's The International marketing of.. sugar, appears

doclina.

thres claims fora-

A national rail strike for mid-October, wage in viher industries and casts of a drab convenis pic- ture ahead supped the murker's strength although there was no sell-off,

The week's now of company and

results fucked

brillines

for

a credit pic- ການ

likely to become a contentious problem in the next presidential term, whether Nixon, or Kennedy enters the White House on January 20, 1961,

ficance The unpredictabla trend in trade. United States-Cuban relations. the desira

A non-

in the

Chinn--and 1105- Communist coun-

should be

shown to students

by ANTHONY FULLER

On Thursday evening, before a select audience ai the Cinema of the China Fleet Club, the Sie- mens Organisation presented a documentary film, appropriately titled, "Pulse-Best Of Our Time."

The title is apt, encompassing as it does, electrical engineer- input the service of man.

The film is made in colour, excellently photographed, ex- pertly edited, with a well spoken commentary to explain the more detailed parts of the film.

Commencing, with wide, shots tries inay buy sugar increas

of urid lands and desolate re- are ingly as a pawn in their poliglons, where the

the

19

New method of treating meat

.NEW. method of treat-.

fions where the population A ing, meat, to make. It the film shows how the giant tender” has been, developed electric motors can be utilised by two scientists at the to make the desert blossom like UK. Ministry of Agricul placing electric ure's Fisheries and Food Establishment, energy at the disposal of people Research living in the 20th century using Aberdeen, methods as primitive, as old as mankind. -

the ruse by harnessing water power,

and

The selenius, Mr Edward Rolfe and Dr Is Penny, have used the fact that "accelerating treuze drying"—a process deve until it shows loped at the Aberdeen

Estab- calculating lishment, which is now machines of today; of directed adopted by the industry for the: rays taking over from the surproduction of high geon; and the wonders about dehydrated food-Elves meat an lo emerge from the laboratories absorbent, spongy or

From then on, the alm traces, the evolutionary course of clee trical research, of con-

the

uncanny

being

quality

Prices differentials Whalever

law is agreement. Bugar

thete three biors adepted Congress will face in between creasing difficulties in equitable would have increasingly signi

world sugar administration: in muny sectors, so this was n odd recession-a sort of famine against a backdrop of exports

Adding to the complex oute. In the midst of plenty. low-efusing to climb and

figures ever. the

well squeeze at home buyers

of many foreign Jook is the possibility, already were

ferred the sidelines to down from what had been con-

countries to get a larger sharediented in the Cuban situa- that the Soviet Union, ideally exported a business commitments.

The Financial

in-of the United States maricet, tion, Tlines

Communist leaders, months ago, had glow.

back 5.1 Expanding sugar production... it! ingly forecast what would bu dustrial index ren done as the "golden sixiles" points over the live sessions to all continents, and the possi-sibly other

of higher prices to end 322,8 with the

year's bility started.

United States consumo19 peak exnely 20 points higher among the factors which have tical manoeuvres.

The

States present United arid the low at 295.8.

considerable expert Gut-edged shared Friday's stirred

sugar act, adopted in 1948, concerning

based on a fairly simple for- drift but previously had been speculation

buying long-term outlook.

mula, which narrowed the in- strong with American

Although Congress must externational ramifications of the putting War Loan 3 per cents

United States markeung, sys- a full point higher before taper- tend the sugar marketing law,

tem, The preamble sald that ing of Friday. Most govern- in ose form ar another, before

held plus marks March 31, 1961, the administra- its purposes are "to regulate the several ment bonds over the week. The Treasury's tion of the the law will have commerce among

loon new aspects.

states, with the territories and announcement of a new

possessions of the United States, stock issue of £500 million at

and, with foreign countries, to FOREIGN POLICY.

the welfare 51⁄2 per cent times for October

protect 5 come after hours, I included

question sumers of sugars and of those fundamental tax-exemptions residents as an attraction for already indicated la. whether engaged in the domestic sugar

the operation of sugar market producing indystry; to promote ing system should be linked the export trade of the United FOREIGN BONDS

with the foreign States; and for other purposes." mere closely

cellular In general the administration to become household utilities texturb which makes it possible

to of tomorrow. Foreign bonds were quiet with policy of the United States, st.

quotas would of the set has, conformed that the imports

to Impregnate throughout weakness in Greeks appearing be alloted for the benent of economic rather than diplomalle

with a quality improving liquid.. A few sht Improvements towards the end. Dollar alocks friendly countries and the dis criteria. In each December the THE LAYMAN were noted this past week followed Wall Street's path and:

of presumed Edvantage

un- Secretary of Agricuture deler

After freeze drying, the meat perhaps a sign that the recession declined over the five sessions. friendly countries.

Perhaps the microscope shots is reconstituted by soaking it in mines how much sugar will be: has "bottom out" and that the Gold..ilaktig issues staged

which water containing enzymes In such avent sugar might needed to fuifli United States of new crystals into predicted slow rise has begun. | sleady advance before running

are en biological.

substances most "political requirements during the next gossamer-like threads the UPI,

issues down back after the expected dental become

of sub-mintature tenderise the protein. from the United States of any commodity in the world, in calendar year. The figure is re-closed to form rectifiers; or the bre

of three vised later if experience shows close-ups.

| components for systems that change in dollar-gold. parity. volving the interests American bruing was said to great sugar camps: (1) The the need of a change,

Previoun amorts to make rackt. The sugar marketing pro- have a memory and the faculty be bahind

initial ris:s. United States and its traditional Selective demand for leading suppliers; (2) the British Com-gramme was generally consider of making loglos1 decladons; or more.tender, by sprinking. It monwealth countries which ed to be working well, and Con- ruch showy experiments where with powder or dipping. It in lightning is artificially created liquid resulted only in. Improv- producers appeared late. Friday.

have sugar agreement among, gress: was predisposed to

of Insula ing the, texture of the food near and Olls had an erratio. week themselves;

the routine renewal until the Cuban to test the strength (3)

a revolution after one year tovk tlons, are among the sequences its surface as the tenderising must find and finally ended losers with countries which Royal Dutch the exception, market for their sugar exporta a turn considered unfriendly, to which will interest the layman. agent could not penetrate Inic States and raised Jebsen & Co. the representa the body of the food. The oute Rubbers and tete were within the general framework the United

the ment the of quiet. UPI

International sugar the question of Soviet Union lives of Siemens in Hongkong, side

In Involvment

western intend to

give screenings to "mushy" while the inside r hemisphere affairs,

selected audiences, and li occur- | malied tough. The centre of gravity in the red to me that such a film, so suger legislative outlook then expertly made, should be shown shifted from the Agriculture to the sentor classes of our Department to the White House tecondary schools,

It is generally agreed that there will be no spectacular re?~ Instead a slow, steady bound. improvement is expected, with truly impressive statisties not expected until the Spring of 1961,

HONGKONG

STOCK EXCHANGE

by

at

Our Own Correspondent

The Dow-Jones averages Also helping to bolster sent the close Friday showed 30 in- inent were reports of a two per dustrials at

Business done at the Hong-

580.14 of 5.05 cent rise in minufacturers new points; 20 rails 125.42 off 3.83;

n rise in 16 utilities 91.20 of 2.33, and kon Stock Exchange this morn- orders In August, machine tool orders to au 11- 85 stocks 103.18 of 3.24.

Electronics, the biggest losers ing muunted to approximately month high, another gain inj

$1,403,000, Noen quotations and weeks, found Sony Jevenue freight loadings and aj in recent Sharp rise in Deal airline pus-support this week and bounced the morning's transactions:

back with gains of '7% points in Texas instruments,

songer traffe.

Car production rose substan!! ally, but the Industry continues

to be plagued by a huge carry-

over of 1900 hodels,

5

Beckman.

Buren 5 in IBM. IK Dank

Asia and 4k B.

Union Ing.

243 Whart Co. Past Waterboat

Wheelock

Buyers Sellers 1175 1189

204

Bales

25.40

105

U DAS

20 1.00 10000

100 232

73%

in Motorola

Oils, depressed for the two sessions, are said by some 1 Dock There all remained some brokers to have reached a lovel dark spots in the pleture, of excellent investment vulue. haisever. Including 2 slight Amerada jumped 3. Phillips 2, dip in steel output, a decllue Sun Oit 3, Kerr McGren 3 and In retalt trade, poor railroad high-priced Superior Oil earnings reports and a further California 88.--UPI.

Fly to London- only $4982-40

RETURN FARE!

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See your Travel Agent or fordine's Airways Department.

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BRITISH OVERSEAS AIRWAYS CORPORATION

200 M 105

400 100

100

105

2:00 / 104

of Ch. Prov. 21.10 21.30 2500 21.20

100 μ 105

200 120

10002123

JIK & S.

41 412 3500 kr 415%

HK Land

01

Yaumati Ferry

Ex. All.. 04

IK Tram

Ch. L

11K Tele...

overseas investors.

the

a

Russian bid to

increase trade

with Japan

Moscow, Oct. 2.

The Soviet Union today pushed its new drive to increase.trade with: Japan to aid giant deve- lopment plans for Siberia.

An open declaration for He said that the Soviet Union 1000 415

Russia's desire and need for was developing its own textile 530 01 411 61 Japanese trade

100 35 500.01 80

Hrst

most

At any rate, the Olm is one of the

expert ever made which proves two things:

One, the thoroughness and detailed workmanship of Ger-

and the State Department.

The desire of many Latin American countries to sell.more the United States -- tugor in where the price is considerably higher than world price then man industry. made sugar a more important Flanning of factor in the hemispheric economic develoj

ment.

ALTERNATIVE

Events in the four months left

whether the gar marketi system of the United States will continue to develop along his- torical lines, with moderate CX- pansion of quotas for beneft of some Latin American, countries.

in 1960 will probably determine

Two, the enormous

of

1

which.

ani

became

The new method, because freeze dried meat becomes are porous, ensures that tenderising quld gets into the Innermost whole tissues and makes the plece of meat completely tender.

The process can also improve. the taste as well as the quality. as other substances such as. drive monosodium glutamate already often used in canned and frozen foods--may be added to make the meat more appetising.

Western Germany Is making into the overseas markets.

Accelerator for

A-Jirge proportion of all car- cass,ment produced is-low grade, and the new process will make 11 possible for this type of meat,: to be used much more widely. The price differential between high-grade steak and low-grade. beet is, such that it is consider. interested economically worthwhile to use the new feederising process.

heating systems

【TWORLD-WIDE

V has already was made in engineering but because of the

+

been

the Soviet scientific and politi-bigh development In Japan of

A theoretically possible at shown in a new. British Another advantages that DO 200 ₫ 05. cal magazine "International (this field "there are good pros-

ternative would be for the 11 3124

time 10 pects for the Import of your United States to adopt a global made accelerator for small tenderised mest takes for less cook than ordinary 23.10 23.30 2500 23.20 Life."

forced circulation: 2500 g 23.20 The magazine reported today textile machinery.'

quota for sugar imports. The hore

second grade fresh meat, as it 200 25,50

Deputy Premier Mikoyan said any balldup in overall amount of sugar re- central heating. Eletric 28.10 20.38 600 #1 3435

can be fried or grilled instead. 1000 2020 Soviet

quited Anastas Mikoyan's recent talk Japanese-Soviet trade was not 166 349 with 73 Japanese businessmen dependent "on curtailing of 100 or 34% who attended the recent open-Jupan's trade with America.

The Soviet ing of the Jepanase Industrial

Union does not <xhibition in Moscow.

want Japan to discontinue or Mikoyan stressed, the curtail its trade with the United magazine said. that "the geogra Slates," he said, "We are in favour of Japan developing her chicul proximity of the USSR

all countries..........in and Japan render the develop-trade-with

we do not want ment of trade in bulky commo- other words dities

expedient Japan's economy to be tied up particularly

market the American since no long distance carriage with is involved."

alone."

53 3549 GL Cement Dairy Farm 20,70 20.00

Watso

Textile ...

8.30

27%

13.00 14.10

1000 20.0 500 by 261.70 4500 29.70

1000 FT 0.35 120 The 1000 Ga DỊ 5000 612 73% 800 Talkey Dock 0216 63 2400* 13.-

Nanyong

A. Rubber.

FL. Trust

Humphreys 21.30 24 000 2455

1000 68 Really... 1.00 1.00 18000

HK GAN

Int Inv. 13.09

Gimon

Star Ferry

100

工項

Macno Elec. 11.00 12.30

LONG-TERM

Mikoyan said Soviet-Japanese

pump

for consumption would · Tha manufacturers, who of balled. be determined;: Allotments Ingk 031 extremely wide. would.be.made to domestic best variety of pumps from tho The process; is: Xected to be

in small hond and cane sugar. producers

to power of use to, frozen food manufac the States, to Puerto Rico, and driven types with outputs up turga and, to ment packers to the Philippines Republic in to.. 12,000 gallons minute, Commercial development, of accordance with the economie have received numerous. In this new assistance act,

process is being The Imports quiries from nearly all parts handled by the National Re- countries would of the world.. from foreign:

search: Development Corpora be alloted by quotas on a first- come first-served basin.

POLITICAL TIES 14.79 14.00 “100 a 14.70 | trade could be on a long-term The First Deputy Premier sold Underwriters 11,30

basis "In connection with the that it Japan had followed the preparation of the 20-year policies of the late former Pre- master plan for devolopmenti, mler Ichio Halayama its trade "This plan envisaged particul-with Russia would have arly

the developed Hatayams's death lection. great progress In

bul that development of Siborla” and “the) a' much faster pace," Far East, he was reported: as since "The Japanese government saying "If we knew Japan's de-policy has been spearheaded mand for raw materials,wengainst the Soviet Union and could take this into account in the Communist Chinese people's our. master, plan,"

L. Crow... Entertain... Vibru......

201 4015

10.20

Bank of England statement

Lonxion, Oct. 2 The Bank of England slate- ment for the week endod Sept.

29, rende as follows

Neira in circulathun

Publie Depot

Private. Deposit

Governet securities ·

ON OUTİKAS

Rebripts

Retie

£2,215,718.500

Republic,"

+

zabav

Vessel completed

in 34 weeks

The accelerator has. bcentiun specially designed to operate in sever

cheat healing, systemy Any

such solution would involve the necessity of pro- with the greatest economy. In teoting the economie welfare of Private houses, bungalows and

flats,

The modern trend is, to cut Unlied States sugar producers, and presumably- would give

and bulky:

unsightly new life to agitation for gov-out

payments to growers thermosyphon type of heating emment and United States tariff pro-ystems for the more efficient cloned chreult. - - system – which employs an accelerator pump A CONSTRUCTION time Some exporta here are still and small bore pipe" work, hopeful that

of 34 weeks from keel.. the Cuban Tho manufacturLTI bellove government will re-examine that their necelerator, which is laying to completion was almally its own position in of all: aluminium construction, achieved by Swan, Hunter- the world, sugar situation, and the lightest obtainable, and Wigham Richardson. Mikoyan said "the" Boviet Mikoyan noted with regret not become permanently do welching only 13% lbs.

pendent upon markets; in thes under could place more orders that political relations between Soviet Union and Communist rotor construction, and done on Tyneside, when the 8,450 The motor is of canned Ltd. at the Neptune Yard In Japan for equipment for Moscow and Tokyo."were now China, both of which cuustries not require and or rent, tons d.w. Lebite Palm, the chemical, cellulose and paper | bad. N

ninth of 12 ships ordered by and 2), teville's industrious" for "No one sees the necessity have their own programmes thus eliminating drips,

The pump is fitted with the Palm, Lise from yard, for a large expansion of... sugar: ‚ships ·and 'other} {commhmodi- of Japan's military alliance

with the United States? .he. production--UPI

scale-free, niter, which, by its said, and säded "we are PTOS.

self-cleaning action roures successfully completed ac thet the sleeve bearings receptance trials recently. pared to aboifah our milfil

belvo a constant supply. of tary/^aillanoes: If the Amasei-

The best ship, Bamenda Palma | clons" "fitored waler during enna and their allies Hqoldate

operation, thereby, considerably completat in 1960, Wan on the their milllery, paola."

thening bearing life and at stocks for Mikoyan then said "we"gland ·|

these time removing all several more fitting out, Tha nocefality for oil omt grede fast ectatructional of the The bump has been designed Lobito Palm is” dua ta, the to operate with complete modernisation programe of): Intjáningarférrólad and» 11a) our the yard which manica full um, rait contamed in the same as of prefidication, and welding 1.80 for small electrio light bulb.techniques,

Tracy The 50vlot dret Deputy Pre- 22420,3mier also stressed that his nation 945 058 25% |-wanted-consumer goods from

34,009,304

UPL

HK UNIT FUND

Baller Price: $1.02.

!

Exchange rates

11167 noted that the Soviet Union was investing., 25 to 30 million roubles. (US$0.25% to for: trade........because trade STO- unomielai d'exchanges market

Busine done in the local 17:5' billion) in light-indultry | pares the", arounds" for the Met morning, at the following, catenam. boods' such as texitesttootwear | provement" of "políticni ·relations" Us," aõlike toer (81)CLERMON and other and we could buy good trado helps improving: Berling, witami{{par" 2) NAM from, you, filing Jokanews), samo the political situation, and suck, paderomiary rupiahs (per 1001 .. consumer good trayodatno polljoni relations Mellitale the fitam teale" (per 100) bought gueli goods from us,” development of trade."UPI. Singapore (Btraits)