NOT SO
BIG BUSINESS
from
Frederick Cook
New York.
PRESIDENT TRUMAN
Ims come to the conclu- sion that his Kuess Inst January that U.S. business would Day 19,333,000,000 luxes to the Treasury this year, was much too high.
The tofal, ho 110W *thinks, will be nearer £2,000,000,000, The reason;
L
heavy. fall in earnings -howwn in the half-year tatements of many thou-
ands of U.S. Grms.
The President has been
tudying the companies' re-
erts to their stockholders shesperini altention; and matching them against Treasury reports of tax col-
inctions.
ile has found that the eduction in the amount of taxes paid or due has been widespread throughout in- dustry, though some ser- tions, are showing better re-
ults than the average.
Tax liability of manufacturing companies are running some 13. percent behind a year ago, re- lecting much lower gross returns before taxes.
Strikes, rising labour costs, dearer materials and lower sales (often at prices controlled at a not-too-profitable level) are all playing their part.
some industries that were hard int in the Arst part of the year ok for better results in the p.bnd.
THE CHINA MAIL, SATURDAY, SEPTEMBER 18, 1952.
"If we sell all our best planes to America and they send 'em hack to bases in England, I reckon that's good business."*
THE DIPLOMAT
AND
THE GRAFTERS
The mammoth Eastman Kodak
LL of you I fancy Company, for instance, report a 21 percent drop in net earnings
must at one time or for the 24 weeks ended June 15,
another have seen attributing it to two main causes:
the faces of our 1-Poor sales in the textile field, and 2-defence orders, which are more old-fashioned and con- loss profilable than civilian servative sportsmen when business.
come American team Mr Thomas But, sald Hargrave, chairman, the second-along and Introduce an en- half outlook is brighter.
tirely new and unorthodox "U.S.
textile companies and technique into their clothing manufacturers as a favourite sport. Broup showed in the first half- year a fall of about 60 percent in .net profits. But by midsummer
the Ude had turned for them.
again
*
J.
BIC
an
What Turkey has done tor itself. what Neguib is doing for Egypt. . un American diplomat has set out to do by undiplomatic a vital means: to free sector of the Mediterranean area from the stranglehold of corruption. A News map report-
He must intervene subtly, indirectly, and above all, secretly.
indon Express BerviDO
John Peuritoy, mule-mounted, talks to an old soldier in Crete.
Mr Peurifoy has openly and publicly defied that rule. believe," he said, "that it would be a good thing for Two days before the Greece to
B have Greek Parliament was due General Election as soon as to debate an Opposition possible. motion of censure against
new
by SEFTON DELMER coalition, Mr new Government, and a new
Graft, and taxes.. Imposts for co-operatives, bank charges, and a multitude of other dues make Greek tobacco 20 to 30 percent dearer than the Turkish product of equivalent quality.
This is
GORDONS
the Gin
DRY GIN
LONDON.
BY APPOINTMENT GIN DISTILLEDS TO THE LATE KING GEORGE VI Tanqueray diordan & Co. Lid.
Quality "Incomparable
Gordon's
Stands Supreme
Distributors:—
DODWELL & CO., LTD.
Meals always tasto
Just cooked
using HOTCUPBOARDS
by GEC
Aglomatic control of erpboard and Bala Maria temperatures. Dry-hauled Bain Marie.
frea ribulos ol hest in cupboard. Altrazile titrenes enamel and chromium-plated finish. Easy in het citan
the Plastiras "That would produce a Patronage is unbelievably rite. One of the results is that the banks have 5,000 three main If you enjoyed that occu-
Government would be bet- employees on their payroll, 10 ion, take a trip down to
Peurifoy called a
ter equipped and better able times as many os banks of a Whitehall, or across the Peurifoy, the American Am- Press conference at his em to deal with the problems similar size in America. Channel to the Quni bassador in Athens.
busssy.
facing the country?
Before the war four directors ran the Bank of Greece with 15 Now the mills are hard at it d'Orsay. For It is the turn
Result was exactly what legal advisers: One of the oldest rules of garment-makers of the diplomats this time.
Today, political THE BRITISH GENERAL ELECTRIC CO.LTD. and
The Athens newspapers old-school diplomats would jobbery has run this number up ao busy that orders
diplomacy says that an am-
ond News- to 32 directors
80 legal bling up.
Western hussador should never inter- sent their top political re have predicted. great Aron and steel
are looking vene in the internal affairs porters. They listened while papers burst into a tornado advisers. second-half results, though their with lifted eyebrows at the of the country to which he Mr Peurifoy addressed them of angry protests at this The official bank "rate" in companies also look for. better rop they
Intervention in Greece is 30 percent-the black third-quarter statements
on the dangers of Greece's American
market bank rale Is 00 percent. still show the effects of the steel
political, and purely Greek affairs.
This dearness of money is having strike.
constrictive a most
effect on military situation. Then ho
Greek industry and agriculture. dropped his bombshell,
Throughout
will new
In the first half-year, profits were 45 percent down compared
tust year.
and
unconventional is accredited. technique of diplomacy in-
troduced by one of the If he absolutely must do economic,
nited States' most impor- so, then he should never let sunt envoys, Mr John E. himself be caught at it.
PERPETUAL NIGHTMARE FOR
THESE FRONTIER MINERS
On the Turko-Russian
By HENRY THODY
bringing are down from the open equipment cast mines up at 3,000 feet, re- increase
Border. AROM under the very Hoses of the Russians, resorts,
in ropeways
Alpine winter
the
from
Britain
frontler
there has one strike or incident not been et Murgul.
Industrial community.
"I
The
ONE ANSWER ·
When Parliament met, number of deputles who were originally due to vote .against the Government were so incensed with Mr Peurifoy that they changed their minds. The Plastiras NE of the worst features are coalition survived by 127 to co-operatives, originally institut- 118.
ed 10 protect farmers from capitalist exploitation.
1
The State Department in Washington, however, far from being dashed by the result, upheld Mr Peurifoy.
STRANGLED
the so-called unions of farm
Today, however, they are so overfilled with employees that their administrative expenses take all the pronts.
THE EFFECT
The industrial production Is to write. In the camp cinema you
falling most alarmingly. If May mine's sec grimy, overailed workers
1951 were rated as 22, then today miniscent of those aerial production.
on a blackboard the learning Turkish equivalent of C-A-TI APPRECIATE the motives the Index of production would be 15. Already there are 450,000 which have prompted Mr unemployed; more expected. "Are there any Communists spells CAT.
Paurifoy and the State De- at the eastern end of the
Over those heavily-wooded among your workers?" I asked
This frontier mine is a model partment. Close on a thou-
The Americans are only ono Black Sea near the Soviet
the sand million dollars,
problem of Greece. have answer to oil city of Batum, the West hillops, the Turkish engineer assistant manager, Sezal Conkut,
told me, is Soviet Russia.
"Not one.
They all hate the workers receive fre caccommoda- been spent by the US, since man who saved Greece. Arst That answer is a man-the same is snatching valuable raw
You tion; three meals a day; working 1947, when they took over, when the Italians material for the free world's Even the dirty waters of the Russians and Communism.
invaded her overalls, underwear,
from us in Greece.
In 1940 and then a second time defence programme-thanks Murgul River, having done their see we know the Russians better clothes,
Job of generating electricity than most people. We have had boots, socks, medical and dental
when the Communist guerillas to Britain.
flow into Soviet territory a few to fight them a dozen times in care.
Today much.
of that looked like triumphing in 1947- miles further on.
That man is 16-year-old the last few hundred years,” - High on the southern
They also enjoy camp social money is in the pockets of 18.;
Field-Marshal Papagos. slopes
Greece itself, of the Caucasus Yot this copper now going into. Mr Cankut told me they had clubs, sports grounds, and some-grafters. Mountains -a baro fifteen modern weapons to counter the
throat of Communist aggression recruited a strong security force thing they had never heard of despite its newly fledged
old beforeman
age pension membership of NATO, is a miles from the Turko- was. until World War 1, in to guard every piece of equip scheme. Russian border-rich copper Russian lenda. Up until 1914 a ment. But to date
dangor-point in the Near ore is being mined and British company had a concession
East second only to Persin PAPAGOS is a newcomer to the Russians to mine
Undreamt OF and Egypt. shipped to the armaments from
politics. He leads the so- called National Union: Movement factories of Western Europe. copper here.
patrois Undoubtedly Soviet
When I was in Athens a which in the last election, with Murgul's new prosperity can few weeks ago I found the 115 deputies, was returned as the watch this busy mining com- munity through powerful bino- cally be judged from the shops American experts there at largest party in Parliament. of the of the village main street. In their wits end about how the topd from
But the nèld-marshal's. 115 electrical up. visited this booming, bustling
The mine was then idle until nearby hills. But they have not ported radios. mining community the first
give him foreign rowspaperman ever to do the present British installations, yet sent any agents or agitatora pllances, refrigerators, British to deal with the set of followers were not enough to ordered by the Turkish Gover to the mino. May be they know bicycles and motor-cycles, and corrupt wire-pullers and over all the other parties. Frosh
textilen arc in It would be a waste of time Lancashire
patronago-sellers. By their elections this autuma, #the mont, were erected In 1948-50. trying to influence these fervently abundance. These were undreamt irresponsibility and selfish Americans hope, will give him
anti Communist of luxurios two years ́agó.
ness these men are bring. the necessary majority. Turkish workera. .....
But the men of Murgul also ing Gracce down, to bank-
Hence, Mr Peuriloy's open and "made in Britain.". The name of Output, at present 32 tons of
perpetual Two years ago most of these live in a conilleting dally, is quickly 1,600
World tension due ruptcy, unemployment, and unconventional standa tough, overy British Industrial centre blister copper
hard working nightmare. the 30 tons daily Turkish minera and workers to threat of Bories egression revival of the Communist:
I wonder what long-term effect was on the name-plates of this approaching. humming machinery.
maximum output with existing in the complex smelter plant meats a copper boom for rearna- menace..:
It will have. Let us hope that The whole economic life of air Peurifoy's calculations, are. equipment.
were illiterate peasants, scraping mont It was strange to stand on the
‚à' bare, existence · from the noli
the country is being strangled right, and that it will shake the banks of the. Murgul River, With the West's call for more with primitive wooden plough these workers know only too job hunters their cut. Greck to opathy, the face of corruption But the tussians march, today to give the grafters and Greek electorate, out of its flowing fast through a pic copper for defence. needs, tho? luresque torge, and look up at Turkish Government' is, I Today they are skilled well, the Red Army will sweep bacco, for instance, traditionally and danger, the one-and-a-half mile long understand, just about to place workers. In their lunch breaks into this happy. prosperous a stable export, cannot and ⠀e- Bra-Bullt aerial tramway, on important order for further they are learning to read and valley within an hour, yoki market."
With special permission from
the Turkish Government to enter
the restricted zone, I have just
$0.
Important Order
I found the complete instal- Production began just over a Intions, from the hydro-electric year ago. dynamo to the glant ore crushers,
culars
patriotic,
an absolute imajority
-{London Express-Barules.)
N
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