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Derv, Consumption Rising
Page 54
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rONSUMPTION of dery in the first c„,larter of _this year, at 488,173tons
• was 16 per cent, higher than in the corn-parable period of .1956 (comparison with 1957 being inappropriate because of the Suez crisis). • The .Petroleum Information Bureau say that standard grades of petrol are less in dernand, premium grades now accounting for 54 per cent, of sales.
Deliveries of all grades of petrol in the first three months of 1958 totalled 1,395,206 tons, slightly below the amount for January-March, 1956. Gross tonnage of oil products ' sold during _the first -quarter of 1957, at 7,679,161, was record.
tnikEN TURNOVER UP, BUT RECESSION APPROACHING ALTHOUGH the turnover of. British Timken, Ltd., for 1957, was about 16 per cent. higher than for the previous year, there were plentiful signs that a recession was approaching., Sir John Pascoe, chairman and managing director; told the shareholders last week. There was a reduction, although at present small, in orders received in almost every 'department, with the exception of that which supplied private-car manufacturers.
"On looking further ahead," said Sir John, it is becoming increasingly clear that this country is unable to isolate itself from the recession in the U.S.A., which, should it develop further here, must affect the operations of this company. This recession may well 'deepen during the coming months."
Last year the company spent about ilm, on extensions and equipment.
FREE TRADE CONFERENCE
RECENT experience with European co-operation in road transport will be among the subjects discussed in Berlin when the European Management Conference is staged by the International Committee for Scientific Management in October. The conference will revolve round European economic integration and representatives from 29 countries will take part.