1961-10-30 — Page 2

THE CHINA MAIL, MONDAY, OCTOBER 30, 1961.

Weekly survey of American economy

SCIENCE AND

PERIOD OF ADJUSTMENT ENGINEERING

New York cotton

review

New York, Oct. 29.

Un-

Cotton futures ruled alter

natoly steady and settled in quiet doslings throughout the week.

the A1 Friday's clie ruled seven points higher to 23 polnis lower, or up 35 cents to down $1.15 a bale trian the pazcoding week.

Posibilities for

the

K

1962-63 son

Hist

Business 'neither limping nor booming'

New York, Oct. 29.

The U.S. economy was described by experts

HONGKONG STOCK EXCHANGE

Wall Street

moves little lower

Britain conducts research on wood chipboard industry

by

F'Our Own Correspondent

last week as ʼnoither limping not boom-ent Steck

Business done on The Hong- Exchange this mining univunted 10 ap-

and the morning's

New York, Oct. 29.

ing," an in-between condition frequently proximately $1,740,000. Non For many investors this week the stock market encountered after several months of quotatious

į transactions. rapid unconsɔlidated recovery from a recession.

Short

Bank

Buyers Sellers

310 310

Most of the interest was

After the "doubling; products. in September, services restricted the nearby de- Thomases" were heard Inst week of all kinds-from beauty par- Lombard Hveries. Transactions posted to painting to the drop in industrial lours, hospitals, commuter tran-

to gub,

electricity, Allied Inv.

11K & FE the daferred months mostly production indices for Septem- portalion

Invest. routine switching ber as "proof" of their contention phones and the vast number af presented

that the recovery had run out repairmen who take care of the wharf Co. operations,

Wheelock of appliances — schnal of anther

growing urn

jold} change of steam.

price thought took the spotlight this argounted to 40 per cent of all callon government

consumer spending and were

(New) for the week. programme

at an annual rate of 11 Dock Win ♫ prime

elaius is quite running The one facter in restricting participa usual in a business upturn Tol-$140,000 millon

The time may not be far off lowing a recession for the rate tion in the later montha,

of rise to slow down after the when the proportion of spending Talkoo Nearby December contrnels,

These

for services versus goods will Ch. Prov. become a afty-atty proposition, HK & S. mid-week period of initial sharp

with the

Hotel former eventually cashes, regain stability on analysts point out that in the summer Industrial attributed spring and

gaining an edge. At the rate the tic Land buying septtered

upwards at a made hedge-lifting activity leaped partly t against sales of spot cotton, much faster rate than the rest credit card business is growing.

attributed of business activity. Hence the the car rentals, the "enjoy your Local P & P Also some covering

period of adjustment,

KMB mill accounts, following in- present

case within five years. There are work factory dications of a bronding inquiry apparently, was the sharp drop system, this could easily be the Tram

in the average

those who predict that leasing Yaumati for goods in the textik markel.

week in September to 39.3 hours

household equipment for a fee C. Lig from 40 hours in August.

Is the wave of the future.

after

21

'Heavyweight'

recovery.

Sales 20 348 B340

20 318 722

BL 5000 53.20

0.15

20.00 100 344 350

20

1240 1215 4500

12:20 1211

400

415

071%

20 25.90 vacation now and pay later" Realty

The factory work week is an

Steel advances on the demand of reliable business Indicator The emphasis

consistent record with a fairly

Meanwhile the U.S. industria) for heavyweight goods was in-

turns in mujer teresting from the standpoint of of predicting

tput picture firmed this week ection consumption, since these business activity several months with an estimated back-to-nor- mal 135,000 automobile assem- "eat up" raw in advance. goods literally

As in the ease of the industrial lies, a slight but broad advance The in cotton

manufacture,

productivity index announced in the steel market, an increase market experts said.

34.02 last week, the government blamin coul-mlaing to December dipped cents a pound, establishing thed the drop in the fuctory work shipments lowest point for that delivery week on the strike at Ceneral Lakes, Machine tool builders re- and on bad weather, ported new crders for melal then re- Motors slrco late last June,

Hurricane Carlo, cutting wols currently reached a bale from specifically

March covered 50 cents the low to close the week with However, the "doubting Thoma-the highest level since

ses" were skeptica).

a net rise of 10 cents a bale.

Other influences The subsequent recovery was coupled with a speed-up in the

They said post records show rate of producer impoundings

that short-lived strikes, such as under the government loan pre-the one at GM, even combined

week, ramine. For the past Riowers pu: 303,123 bales under with spells of bad weather, had

hinted 'They the oan canopy, boosting the failed to depress rising recovery niet loan stock of 1001-02 erup

difference,

that

1857.

and

irun-ore Beross the Great

cunt

2.213

500

121%

500 20

1100 Gala 1200

1400 Y GU

7508 450 235

19073

was summing up, a settlement of all the hopes and commitment made much for tax purposes and the annual phenomenon did its work well in keeping the list off balance and just a little lower than the week before.

Textiles weekly review

:

Those who put their dollars SD-called "glamour" the stocks many months ago wero given back a lot less for all their time and trouble and in the process only succeeded in driving their erstwhile favourl- tes to even lower depths. Some investora, of course, were at- teropting to ride out the storm anal participate in the next time-worn chapter an end-of- the-year rally.

The market background, how- ever, involved more than mere business re-

New York, Oct. 29. 4.275 1000 2.275 Cotton grey goods mellom re- tnx selling. The

अ 200 m 30

multiplying covery was running behind the ported number of moderate-sized expectations of many observers and third quarter earnings re- orders for a wider range of ports drew less than notices. fabrics this wook, in-

Indicated earnings of Jersey cluding lowns, broad-

off Standard

slightly, cloths, narrow bag sheet- General Motors reported a de-

of one per cent, cline Chrysler registered n: loss of $4,000,000 and a $26,500,000

214

110 100 115

1500 k 37

1500 + 372

11K Elec...

$7$5

30 35203734

HK Tel.

(Old)

429%

13

100 425

500

43 500 424

100 7143

ings, wide osnaburgs, and drills.

(New)

4014

10409%

IRts.)

HK Gas

Gilman

E

Farm

Menu Flee

100 401

16,30 16.70 270 14 1015

21 21.50 1950

were

and

A

London, Oct. 29.

long-term investigation of the problems of wood chipboard manufactura has been started by the Forest Products Research Laboratory of Britain's De- partment of Scientific and Industrial Research.

New crimper for processing fibres

now

It has been instigated at the request of the industry and, sty the CSIR, 11 may determine the design and operation of "this

industry's £10 million

plant len years hence.”

Although originally developed a means of utilising wood

otherwise be un- which would

natural Umber disadvantages of

London, Oct. 29.

the many Among

weble, chipboard hou proved in atome cants to be a more stable machines introducod the International Knitting material than the Acces One of Machinery and corics Exhibition being present wood-working methods wastage held at Manchester, nor about 40

per cent over the thom England, is a super- whole process). speed crimper for

cessing

synthetic

natural fibres.

in the high rate of

pro and

Basid partly on the waste- products of normal wood-work- chipboard Industry's ing the

While mast print cloths ruled defcil for the first nine month developed by a member firm of less-only about ten per cent.

1800 67 2116

3000 & 21,00

2000 2115

1000

500

21.00

21.00 yardages. Market

4.525

4.30 1000

4.30

2000 4.414

C000475

24

450 4

30001

G01 013

45 12 424

11.70 1220 3000 m 12

7.00

4

New car sales in the second | Jardines Cemont ten-day period of Oclober have

Dat reached the best levels of the year. Because new cars are still Textile

Капурля not available in numbers to meet

Amat. Rub.. Hub, Trust. kel is enjoying significant alt demand, the used car mat-

Chy Hotel

209 30 hoom with used car investors at patterns.

Humphrey 23.70 24.30 1200 cotton thus far to $70,001 bates!mething else must have exer- the lowest point in dve years.

Int'l lately, ay, Among the generally better cor-

Invest 12.40 12,60 2010 je 1249 elsed its influence

1K Mine ..

26000 hitporation earnings reports, Gen- Market technicians regoped consumers'

Lane, Crow, 387 that the rate of producer im- couldn't quite put their Angereral Motors was a rare excep-

Arla Nav... will be

tion. Its earnings dropped une : Meinl Ind. aon what it was, poundings hereafter

fuctor in

Another set of stallstles this per cent and its sales more than main deterraining

The

third over the shaping the price trend.

week seems to have confound-ten per cotton ultimately

doublers reasoning. quarter as a result of the Sep- amount of

rit the

strike which cost the for jtember obviously placed in the loan

The cost of Hving Index September-lhe critical period company some 180,000 unassem- will reduce the quantity avail-

bled inks. Able for the "free" market.

question went up one third of one per cent to a re- cord 128.8 per cent of the 1947-49 average base. Judging ance, this index certainly would not have risen, had there been any serious depressant on the economy. The more conservative the wing of economists would like Raw colton exparts for season through October 24, to put all blame do such a rise In living costs on infintion. Forin- reported by the New York Col- ton Exchange, totalled 1,233,11er President Eisenhower even unles against 074,284 bales re-used it in a speech this week time lasts a jumping board fer coining perled la

The spot cutton markets continued firm with the aver age price for middling Inch at the 14 markets holding at the season's high thus far off 33.00 rents a pound, and about 344 cents a pond more year ago,

season.

the same

than a

in

Comparison

An Interesting footnote to the

of catching tip With Moscow and Premier Kruschey's claim

Exchange rates

new

are

Narrow trading

the

sald

in

of

their

small-schic

indus

months

04

from of the glue bond between

and

UC

Named the C.S.D. It has been stage, on the other hand, is

one of Sera Group,

In Britain, its chief applica- bookings. quiet on immediate

Even Bethlehem Steel, which Britain's bikest knitting tions so far have been in the an increasing reported

building and furniture against old almost tripled its third quarter machinery manufacturers. call for shipments orders Involving tood-sized earnings of a year ago, said the In the past five years the com-tries. Its raw material, however, variety of improvement did not live up tupany has been building up the cumes from such a analysts reasoned expectations, and hinted broad-speeds

falee-twist sources that in order to guaran and speeds ice a condistently good product that if this development takes ly that no industry price boosterimping machines

and Par- hold, and additional companies is in the cards this year because have advanced from 30,000 rpm, the Wood Chipboard begin to ask for a speed-up on current operations will not sup-

to 80,000 r.p.m. Now they have icle Board Group of the British a machine Plastics Federation joining deliveries, It could be the first port it.

designed and built

Products Re- which 100 35ral signs of a "turn" to print

runs at 300,000 p.m., with the Forest cloths an Ane goods since late

which is claimed to be a signi-search Laboratory_in_an'exion- sive programme of basle résearch July.

ficant break through, Recent buying on a wide

Technically speaking, the st The machine enables produc- at the Laboratory. variety of fubrica has been in

continued to travel within its tion, in just 28 hours running.

This the 20,000 to 25,000 yard cate

follows preliminary, in- range of a six lb. package (or glant norrow 600-710 trading gory. In view of the strength in

on the Dow-Jones Industrial bobbin) of two-fold 70 denier vestigations in recent

plant in the hearyarn. On lower speed machines (on-a raw cotton prices, plus an im-

average, linding support the demand for provement in

that lower level again which it would take three days for a Laboratory. The new work deals wider range of 1nished fabrics,

ib. package to be with such aspects of the subject correspondents more or less to similar six

as the moisture relations of Key Koods brokers reasoned a

the lows seen inte inst month. produced. buying move for

clips and board; variables in the ad- Wednesday also witnessed

The standard C.S.9 machine pressing of beards; naturo and inventory replenishment was a

vances outnumbering declines built in sections ut 183 nearby possibility.

Producers remained confident for the first time in a week.

"Spinfote" spinners with analyst One leading that once converters, garment Foods

The 24-inch chances were even for a break spinners on each side mounted chips, and the effect of species. and

twin units. piece

from Apart

shavings makers

that below 890 which could bring on heaters are of a new design and buyers become convinced prices higher

ahead, a further fall of 20 points or se. for each there is a transistorised other waste from normal wood-

working processes, the manu be ex-Others felt that tax selling would

Controls temperature control, 13usinesd WAS done in the local the buying tempo can

facturing process uses fre 15 unit every

small diameter, such as forestry morulok at the

and seconda

information

converted thinnings. These are 6073 higher raw cotton prices, plus about the middle of next month US dollars (per $1)

transmitted to a new easy-to- Sterling notes (per £1)

Higher wages for mills workers when another rise in the short position is expected

into chip which are then dried. and other inflationary pressures, interest

sprayed with an adhesive, and The fun- weavers insisted they will Have and the beginning of an end-read indicator display.

money for fourth of-the-year rally would take A spokesman for the company pressed into board to get more

chip priparation, shape.

says the machines are easy to dementals of ax first half 1002 deliveries,

For the week, the Down-Jones operate and operatives require drying, screening, resin mixing Strong position

Yarn produced and mattress spreading will all Average of 30 Industrial stocks little training.

The C. S. 9 is used in be studied.-LFS Emphasising the strong statis-fell 0.85 points to 693.74, rails on

but of the 12cal position

mills were 2,06 lower at 148.08 and wide variety of clothing

particularly for underwear and statisticians pointed out that utilities dipped 0.62 to 120.52.

Standard & Poor's index of men's socks. The development 7.16 print cloth stocks on hand now 70,000,000 yards 0004 approximate

has made it possible 7.60 while unfilled orders are around cents. Indicating that the over- Instance, 1.34

208,000,000 yards, or about 3.83 all market performed somewhat for manufacturers to knit only. three sizes of socles to fit all enecuragement from nows of better than the blue chips.

Activity rose slightly to 18.- slzen of men's feet throughout improved rerorders for spring on 1,40

yurn-dyed cottons, with tighten- 190,050 shares from 16,801,700 a the world. Crimping gives yarn Test of week earlier and compared with clesiicity, bulk, and high absor- ing deliveries for the

garment 15,802,040 last year.-UPI,

bent quality.-LPS. Large this year. houses have slepped up their call for coloured yarn colon, with mills and con- the result that

orders unfilled have veriera

well into the Aret. sell-extending

quarter.

But the one over-hanging

acting lo uncertainly

011 the domestic optimisa picture in the producers' con- linuing Year of competition Some mills. from foreign American mill men instated f

marke!

from past perform- } Communist Party Congress in unelficial excullowing rates;

Australian notca (per &

Americs was provided this week by a survey of U.S. fòrming.

Japanese yen (per 100) ........ It showed that United States | Cambodia riel (per 100) 'agriculture outproduces the French new franc (per 1

Brazilian cruzeiro (per 100) Soviet Union by sixty per cent Argentine peso per 100 at na daóval rate despite the Korean hwnn (per 1600) fact that Russia has approx-Italian 1m (per 1000) mately seven persons working

farm for every one

Tolwan yuen (per 101

Chinese JMP (per 11

on the

Thai baht (per 100) a new political phrase. He said

American.

Burmese kyat (per 107 the U.S. dollars night very well

The survey, prepared by the Paximian rupee (per 10) ... The stock of certißeated cot-be known as "dollarettes National Industrial Conference Norwegian krane, (per 10)..

Atacao pataca (per 1 for, available for contruct unless the Kennedy Administra-

field Philippine peso (per delivery at the weekend totalled tion curbed its allegedly infa-Bourd, showed only one

where the U.S.S.R. bns n higher Singapore Straits per 86,300 bales, plus 611 balesionary spending.

Netherlana culler (per 1) awaiting

AH! For the pure economist, how-yield crop per acre: lint cotton. Swer Frank (per 11........ Inspection

comparisons per acre:west German D-Mark iper 19 niferumaire" test. The com ever, the thing of major interest Other bined total of 80,011 bales re-in the ilving costs index is the rye, 19.7 bushels (U.S.) and 12.7 Cuban peso per 1 per 1) presented a decrease of 939 bales ever-rising proportion of spend- bushela (USSI); barley 31 and

ing on services as Irom the previous week.-UPI.

against

ELECTRO MOTION LIMITED WORLD SUPPLIERS OF POWER PLANT OFFER, SUBJECT TO PRIOR SALE, HIGH-CLASS MACHINES AT A FRACTION OF ORIGINAL COST.

Examples from our existing stock:

DIESEL ENGINES

cals 43.3′ and 23.7; wheat 10,7; 20 and 11.4; potatoes 107.8′ hun- dredweight and 82.4 hundred- weight:

Apart from the fact that more capital is employed on a typical American farm as aggiust a Rus- |slän: form, American farmers have 4.8 million tractors as dgainst the Soviet Union's 1.1 million; and 1.1 millon grain combines to Russia's 500,000. U.S. farms use 20.9 billion-kilo-

monitor each tils pected to quicken. Faced with keep the market irregular until

$5.00

$285

1.00

15,00

1.13

1.00

5.30

4,00

1,00

0.45

26,50 6.00

Agreed merchant rates Swiss Francs maximum

ing 75-7/16.

UNIT TRUSTS

TWELVE BRAND NEW 30/34 HP RUSTON & HORNSBY watt hours of electricity a year (huyor) $1.20 (seller).

1.80

1.31 1.53

0.50

First Hongkong Fund: $1.12

Second Hongkong Fundi: 80

STATIONARY INDUSTRIAL DIESEL ENGINES, type 3VRO, to the Soviet Union's 8.4 billions (buyer) 00 cents (celler), ;

3-cylinder, radiator cooled, with water clrculating pump, fuel-UPI. tank, 1000/1200 rpm. Hand stort, Filted for power take-off, Ideal for Farms, Mines, Forestry, etc.

PRICE: £205 cach C.LF.

LIGHTING SETS:

ONE-HUNDRED - BRAND NEW 225 wal! FORTABLE LIGHT- WEIGHT "CHOREHORSE" PETROL DRIVEN ALTERNATING SETS, electric and rope tort, 230/1/50, AC, with control panel, giving reparate battery charging output. With complete set of tools and spares.

PRICE Đầu cách ClF.

watt VILLIERS/EDC PETROL DRIVEN THIRTY 312.5 PORTABLE ALTERNATING, SETS, comprising Villlers Mark 10, aingle cylinder, 4-stroke, 1.3 HP air cooled petrol engine, belt'; driving EDC alternator 230/1/50, AC,,3000 rpm power factor,

GOVT SECURITIES

TAKE

IN

LIMELIGHT LONDON

London, Oct. 29.

self exelling. On light bed plate. 12 amps. First-class condi] Government securitics stole all the honours in the

tion.

PRICE: £18 each C.LF.

FOURTEEN - 10 KVA LISTER/MAWDESLEY DIESEL ALTER- NATING SETS, 230/1/50, AC, with 27/30 HP, 3-cylinder, JP3 Later diesel engines, radiator cooled, direct coupled on base plate. With control panel. Excellent condillon. Fully recondi- Toned,

PRICE: £270 each CLP.

market last week. They surged upwards on foreign and British buying and with the big banks back in the investing picture.

All prices quoted include Packing, Insurance' and Shipping growing conviction

bunk Cost to your beatent Port.

Welle for photographs and stock liste containing machine again tools, mechanical fing equipment, diesel and petrol mobile compressors, electrfe motors, dieses mid petrol power plant ete

10m

ELECTRO MOTION LIMITED BABKBY ROAD, LEICESTER, ENGLAND.

Caller:

ELMOTION, LEICESTER, ENGLAND.

MDF

they could get raw color at anywhere near the priest which foreign producer obtain it, their superior productivity would allow them to compete successfully.

fol-

OnL commentator dalmed that some Japanese firms low apolley of selling just enough below American milis to get the business. One' ex porter complained he recently Just dat on an order for a comb- ed broadcloth construction in a The central Amerleau market, order, he sold, went 40 Jupatiese house that quoted lower on the finished goods than pro- Another duce the grey woods.

the American mill could

exporter lamented that ho re- cenfly lost out on an Indonealau

Inquiry for upwards of 70,000,-- 000 yards of a certain cloth to a An-Japancae neller.

In hned fibres, turtip côri-

Electifen1 Indairies

The bight on he outlook for Chanical, Courtnuld and industrials, safe and good yieldssociated rivin the glit-edged, and the were around anz shilling lower, tinted hem in line with Caleutia that the Unilever moved 3/- higher to and t scheelty of spot and norby gooda Biel and thep ngan be cut 104/3, Imperial Tobacco adited I ruto will

spurred) demond anding whlie Dunlop and Bri- prices were lowered in ari din

itch "Motor Corp were ille svetteaful alternpt to vivo, d' nina ma up to £14.

long-dlberriant buying interest changed

Dollar stucks made a mixed Boston who undies reported showing derves the five nesalons continuta quiet situlori) but and ended indinly lower,

extempori afeoling b Although Greek boude moved will vein to improve lit ad- Hoveral blue chiba tot out into lower ground on Friday, other few weeks, Topmaiders "over" that whelp Beitian Ameri-1er sted' intravenir i over expected the weaving business

The Financial Time industrial Index closed at 200,7, just two points above the year's low. The fiigt was 005/7,

can Tobacco gave this fiere' thathu W&cli. Some Sugisele bunds; to begin 10 move'ns a quicken- 3/- to 00/0, white Imperial added fractions-UPT

Ing pace by that time.-UPI.

500 stocks was down only 14 of the crimping technique, for £2 million computer

*

of the

Pieture, clown! Ben Judith Wrona, secretary Aftertensi Nochet Söciety, with two airanga, moott ́dovices what at the Booley's exhibition in New York's Collstomi.. THTM Ker Rand* {4: “Pbikls"--Mite other be "Dumbo", The ant- mechanlama-known' as “juriať rövers''--aro Belar mai-tje develjed i provido surface locomotier-for- the-exploratiwit! of the moon-Landon Express Photo..

for university

London, Oct. 29.

A now computer, claimed to be the most powerful in the world, is to be install- ed at London: University in 1963 ot a dus! of ap- proximitatoly £2 million.

will/

The makers claim it make possible' an acceleration in Britain's scienilfe "research and that it should make sfdcruble contribution to national effort during the few years."

con-

the

next

The machine a Fereunti Atlas the third to be ordered. The first production model is being a combled and caurumis- sioned at the University of Manchester, for use early exi year. A second, ordered by the National Institute for Research In Nucled?' Science; will be in Use at Harwell Atomic Research Contre in 1904.

British Petroleum Company is providing approximately

ᄆ

ituarier of the cost of Laindon University's computer and in return will have an agreed amount of time. on for a period of five years. They will use it for full-scale integration of their

programme.

refinery and supply

A Ferranti

...

Mark

Mercury Two computer which has been Used at the university Altice 1909 In now inadequate. Allan: Com- puter is expected to be not only nearly 100 times faster but it Sins a much greater capacity for Dļsu [Handling Kümbera and

fheilities for storing large quân- titlen of date on High-speed magnette tape unile Simple instructions can be performed at a apced: dpproaching, a szikk» lon a second LPS.

•