GUARANTEED PROFITS British Government's Agreement. With Railways
BRITISH ORDER FOR AIRCRAFT
New York, To-day. Britain has signed a contract with Canadian Associated Air- craft for warplanes to the value of over $25,000,000, according to a Dow Jones agency despatch from Ottawa.
This is the largest order of its kind ever given to Canada- Reuter.
BRITISH
LOAN TO U.S. ARMS FIRM
New York, To-day. The president of the Atlas Power Company has disclosed that the British Government | has advanced the company moncy for building in the United States an explosives factory whose total output would be consigned to the British and French armies,
POOL SYSTEM WHILST UNDER CONTROL
London, To-day. CAPT. EUAN WALLACE, Minister of Transport, announces that an agreement has been reached with the railway companies as to financial arrangements for the period during which they are under Government control.
The general principle was that un- dertakings should be operated under a unifled control on an economic basis, and that appropriate charges should be made for Government traffic.
LIVELINESS
Main provisions of the agreement ON RUBBER
be
were that receipts and expenses of controlled undertakings should pooled, and out of the pool they would be paid annual sums equivalent in the case of ordinary companies to the average of their net revenues for three years, beginning in 1935, and in the
case of the London Passenger Trans- port Board, to its net revenue for the
year ended June 30, 1939.
Payment of these funds, amount. ing to approximately £40,000,000, would be guaranteed by the Gov- ernment.
In the event of the pool being in excess of these guaranteed revenues, undertakings would be allowed to re- tain the first £3,500,000 and beyond that point the Government would take
MARKET
London, To-day.
PROTECTION
FOR LIGHTSHIPS
London, To-day.
In view of several recent sav- vage and
anarchic attacks by German aircraft on lightships round the British coaste and the murder of some of their crews, special measures would be taken to provide protection for this service, declared Mr. Winston Churchill, First Lord of the Ad- miralty, in the House of Com.
mons.
Where possible light floats would replace lightships in outer positions-Router.
MIXED RECEPTION BY PRESS
A sharp accentuation in the premium for near rubber
London, To-day. over forward deliveries was a The British Press was feature of the London rubber chiefly concerned yester- market yesterday.
Opinions hitherto have been equal-day with Home affairs, tion and this had resulted in narrow ly divided regarding the freight posi- notably the Government's price fluctuations.
agreement with the rail- way.
says a message from Will. half the revenue until the undertak- will be the main factor in regulating | considers the agreement a fair one to
mington (Delaware).
ings had reached the full standard of revenue, after
During the last two days, however, the majority of rubber operators have expressed the view. that freightage For the most part, the British Press prices and not the question of supply all. which the Exchequer The president is quoted as saying would take the whole balance of the they expected to start building im- | pool.-Reuter. mediately and to begin production within six months.
Location of the factory and its manufacturing capacity are not re- vealed.
The Secretary of Treasury, Mr. Henry Morgenthau, revealing that the loan had been made to the Atlas Pow- er Co., said it was practically a fix- ed policy to require the Allies to pro- } vide the money for any additional fac- tory. facilities needed for the manu- facture of war supplies they wished to buy from the United States.-Reuter.
GENERAL WEYGAND IN CAIRO
Cairo, To-day. General Weygand, French Commander-in-Chief, Syria, accompanied by his British colleague, General Wavell, ar- rived in Cairo yesterday and inspected English, Egyptian and Indian troops.
He expressed his keenest satisfac- tion at the efficient turn out, in which he saw a symbol of Allied-Egyptian co-operation.
Among those present were the Egyptian Prime Minister and War Minister; the British Ambassador and French Minister; and Prince Moha- med All, cousin of King Farouk.
The Egyptian Press is very en- thusiastic about the visit and em- phasizes Egypt's whole-hearted sup- port of the Allied cause. Reuter.
QUEEN'S · ROAD· · EAST COLLISION
Traffic was held up for almost an hour last night near the Naval Dock- yard after collision between a tram- car and a motor-bus shortly after 7:30 p.m.
CHEAPER
CABLES FOR SERVICES
"LONDON,” TO-DAY. MAJOR G. C. TRYON, THE POST- MASTER-GENERAL, ANNOUNCED IN THE HOUSE OF COMMONS THAT BY ARRANGEMENT WITH THE WAR OFFICE AND AIR MINISTRY, A SPECIAL TELE- GRAPH SERVICE WILL BE AVAIL- ABLE FROM FEB. 9 FOR PRIVATE
MESSAGES OF AN URGENT NA- TURE TO AND FROM OFFICERS AND MEN SERVING IN THE BRI- TISH ARMY AND AIR FORCE IN FRANCE.
With the generous assistance of Cable and Wireless Ltd. similar faci- lities would be provided for messages
between other parts of the Empire and the forces in France.
Cables from members of the Do- minion and Colonial forces to rela- uves in the Empire will be at the rate
of 3d per word, with free address.
The facilities will be available from. Bouth Africa, Now Zealand, India, Burma, Newfoundland, the Colonies, Protectorates and mandat. ed territories. Extension of the arrangement to Canada is still under discussion,
Messages must be handed in per- sonally by members of the forces in uniform-Reuter.
JOSS PAPERS CAUSE TWO FIRES
On Wednesday night a junk off Shaukiwan caught fire. "It was ex- tinguished by a fire launch.
A hut near the Hau» Wong Temple in Kowloon City was involved in a fire yesterday. No persons were in-
Both vehicles were damaged, but | ́ Both outbreaks, were attributed to there were no casualties.
the burning of Joss paper and sticks.
and demand.
This coincided with trade buy. Ing and although it is known that there is a scarcity of supplies of physical rubber, there had pre- vlously been no market demand to attract attention to this weak- ness In the technical position.
NOT YET COVERING
While the demand for near posl-
The scheme, in the opinion of the "Daily Telegraph," is a fair compro- mise between the claims of the stock- holders and the public. The railways have suffered heavily in recent years and now that they have vital national services to perform they deserve a fair deal.
The "Dally Express" and the "Daily Herald," however, both criticise the agreement.
-
STOCKHOLDERS ONLY? tions has grown there has been ก The "Daily Herald" wants to know noticeable lack of interest in forward why one section--the railway stock-~ months, resulting in an abnormal pre-holders mium for spot, March and April de-Government to
should be assisted by the liveries.
earn increased
war profits? If the Government had guaranteed them their pre-war level of profit, this would have been com- plete fairness.
Rubber quarters think this is due to the majority of operators expecting larger supplies to be forthcoming later in the year, and consequently they are forward hedging sales made against not yet covering extensively against
previous heavy godown purchases. Reuter.
HENSHAW AWARDED BRITANNIA TROPHY
London, To-day.
Alex Henshaw's record Cape and
The "Daily Express" wants to know pared to help the railways and not pri- why the Government should be pre-
vate firms? ― Reuter.
FAMOUS CRICKETER
PASSES
London, To-day. The death occurred yesterday of Mr. F. G. J. Ford; a famous cricketer
against Australia in 1894/95.
back flight of four days 104 hours of the 90's, who played for England last year has been adjudged by the Royal Aero Club the most meritorious air performance in 1939, and Hen- shaw has been awarded the Britannia Trophy.-Reuter,
DRINK
The death is also announced of the Rev. Ernest Hayford: Thorold, Chap- lain to the King from 1935 to 1939.— Reuter.
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