Page Z
THE CHINA MAIL, WEDNESDAY, FEBRUARY 24, 1960.
BUDGET GUESSING IS ON
London
What are the
contents of
stocks
close higher
London, Feb. 23.
Industrial prices
ahend
forged į
stock market
today anch the I
closed ir-
regularly higher.
tondouts, Motors
Textiles were firm.
Steit, und die oft were the
WIFW
res-
trand by a new strike phreat.,
oil stocks were
HONGKONG Wall Street
STOCK
Mr Amory's case? LEXCHANGE
By AN ECONOMIC CORRESPONDENT
London, Feb. 23.
Only forty-odd more guessing days to
the budget.
With the first crocus thero starts
the
Our Own Correspondant
Businees done at the long-
ku
Stock Exchange this ning aucunted to approxi mately $2,002,000. Noon quet- uptons and the morning'a transac
flons)
contents of BANKS case which by
again one of Britain's favourite sports- Share Buyers Seitera --forecasting a scuffed dispatch
11.K. Hank 1900
tradition Mr Heathcoat Amory willsURANCES flourish at press photographers on Budget Day.
mixexi bul Speculation has brgte a little
inded on a dum nol, with Sazleariter than at this gear be-
The feature.
1
Jal Stotis Licki
trame of their Ruiter th
back Coppers tazed upain,
Gill-edged recuritks retreated kr the cond day.
firm. Dar scis Zorio bonds Wirt mothy
whinged-uri.
www
Closing prices
Cllledged Bonda
„Baltklı Transport £00
TOU
3. 102#/03-
Consal 29- £48-}1/16. Consala 45-£7. Convension Loan
+ 1900 --- L LA Fundung Lean 3, 19597-05-11,
39 1939/2004 Funding Suck
Funding Loan 4, 1960/00——£IK).
3
Savies 3% 100-13/10
CCT
Barclay's
Bank Bank "A"
Chartered Bank-dix it.
Lut ord
Lloyds Bank “A”--85% Gd.
191
Insurance
Unitrance canton-£64.
Alrerats And Motors
Bei Motor Cord, Ord-204 Hawker Siddeley
cause of the suspected effect on the economy of the settlement of the railway's pay troubles.
Until the threatened rail strike and its last minute solution at an interim pay tcrease of live per cont tenure than half
illion state-employed railinen, there was a growing confident schoul of thought which belleved that the Chanciller would clu
expansionist Uberal clure a budget in April.
Tune changes
Since then however, have changed their tune.
UK's record
steel production
London. Feb. 23.
It had been expected in
. steel trade circles
Akics
to 1300 20130%
3 to 130
10 1300
:lun
Lombard SHIPPING Waterbent Wheezork
100
43
28
300 9912
400 100
6.80
3000042 2000 li 2000 10 92%
DOCKS. ETC. K. Whart
Dock
..
170 172
1315 $45
10 170 123 108
2200 K 04
10.00
Pruviten!..
ទ
190 60 61
4) בו חה2
NSPORTATION
comes under Solving railways' profit-taking
New York, Feb. 23,
The three-day rally in stocks was halted today as blue chip industrials came under pressure. Decreased optimism about, Rodog Airplane
the business outlook for the rest Borden (T) Co,
of the year dampened investor: Burrough" Add Machine entbualus
and rich Columbia Pwr somewhal
many took profits. Some good gains, however, were reptiler ed in issues outside those used to compile the averages.
Further indications of tel up in car production within a month depressed motor stocks, Chrysler and General Motors,
Motors, all
250 18.90 American 2000 14
મ
around a point,
U.S. Steel and Hero stood 3042.50 out in the steets with less28 100 12.15 around a point each. 2000 42.15
Calf Packing Corp Cana. Bk. of Comuni
Campbell Soup Co. Cannon Pacille R. CAME (J. I.) Co.
Cal. Trevor Colatzene Corp.
CT, Financial Corp.
technical and
economic problems
RAIL communications are a first essential for any developing country. The railway must go through before projects of development can even eteri; it must be there to bring in equipment and 20 take out the products-not to mention the people.
2011
524%
M
50
2021
I
201
the
But modern railway practice elemly demonstrated kry is so complicated that it re- Columby flan. Those respon- quire considerable experience rible for this great Common- if real eliciency is to be ou wealth-Inspired project hava tained, And that sort of ex-part by experience that the tha perience is lacking in countles traning of craftsmen and
of passing-on of without the long tradition
knowledge and techniques are basle to the suc- the older industrialised lands.
It is this which makes to cess of economic development
from valuable the new Railway Ad- Indiced, many people vlsury Service established by overreas Have been in Britain Britain. For, as the pioneer of learning railway techniques in Railway departments railways (and the first country British to Inurch is Industrial revoluí- and in Industry, Some of inese accumulated went under the Colombo Plan, tion) Britain has
large store of knowledge. some under arrangements with
British Indus➡ And this has been augmented the Federation
tries or with indivklumi manu- Acta perience
and facturers, The Railway of
Service, clearly, Da operating railways overseas in | visory
Chrysler Mutoru
Cluett Peabody Colgate-Palmolive Co.
5411
394
fell
Colombian Corban Co.
478P
Camrerelal Credit
383
Caroldaled Edwi
Consolidate Paper
30%
Consumers CAN
30
of
Continental Oil of Dei.
дах
Cruze Cu.
01
Crown Zellerbach
477
1922
2012
30%
over the years.
231
20
by her buliding
Diamond Alkuli
Baltimore nud Ohlo tel: Cuban Anser, Sugar around 11⁄2 and New York Cen-Dicmend Gard
tral nearly one, while Atlantic
Distillers-Sragtens
Coast Line rose about one in a Douglas Aircraft
Rencraity lower rull section. Electronics firmed, particularly both up Litton and Motorola,
Dow Chemical
Dupont de Nemours Eastern Air Line Eastman Kodak
cx-
will
almost every variety of ter- admirably complement all thest bern dune, and ly being
has
The United Kingdom Rail- done, in the held of tocmical way Advisory Service is linked training.
425 .. 18 1000
ADT 19
10.94
Tatkoo Duck a
50 2 421,
LAND, ETC. II.K
Hotel 354%
Land 481 18
300 35%
2004 334
that
2009
1312 44 48
200
464
may
The CONT trophets ut glaura bave
Concessions to into their own.
must wall railmen
they mevitably signait a start of all
indationary bout.
production during Janu-Hells ary in the UK would be a
Humphrey
*
1.025
1.05 3000
1.03
5000
1.25 around two.
El Paso Natural Gas
5000
$125
33000
2.03
Today's volume was 2,080,000
1,241 bares of a tolat
issues
Family Finance Corp, Fitestone Tyre & Rubber Fust Nat. City Bank
20%
rain and climate,
124%2
7012
Ford Motor Co. of Cana
1634
1.773
4.8
300
Ford Motor
60
with the United
6000
The
Gatineau Power
34
10:00 4.00
volume
434)
9300 $4,1)
6.10
1334 / 655
DD
300 0.70
20022
2000 35
UTILITIES
Tram
PITAL
33 3349 1500 # 334
Bonds $6,000,000.
volume
amounted
General Mutors
4010
Gen. Pub. Un
23% tee has
Gen. Tyre & Rubber
70
1000 331
1400 332
Dow-Jones closing
averages Getty Ol
3014
100 331⁄2
were:
147
30 Industriala
143
146
10043
20 Falls
143
143
5 stocks
300 144
C. Light...
19.00
23 20
500
Group Ord-Tutly
Routes Lid "A"-10% 15.
Away
record and this is now confirmed by the Iron SUBDER and Steel Board whose statistics for thai monch a wage to maintain anxady
disclose that steal output | Truri, XD . CMTchial between themselves
annual was at a record and huluth and the belief that tuetes employed by
rate of 24,511,000 tons. Rel-tough the National Union of Railway-
This compares with the pre- d. con he employed success- will in their own cue
vious record rate of 23,847,000 prompt eller unions to demand tons in November 1959 and one Star Ferry XB
Yawnat.. in Jay rore money, pay these prophets. of 18,500,000 to
that They
clala
last year. higher
costs
Pig Iron production m Jana- *Inevitable"
raltway ary also reached a record figure pay, packets will be passed on to at an bual rate of 18,470,000
Fruiting from bigger
with a consequent tons compared with the pre- Ord-Consumers
vicu best of 14,844,000 tons in Fuckin Jolations Associates Ondraising of east of lving and
demand for higher
October 1057 and 11,804,000 compensate for this.
Since according to the gloom-teas in January 1858.
The Iron and Steel Board says prophets all the foregoing is "in-
t for 1900 as a whole, evitable." the Chancellor
Standard Triraph Milematikazale
1 41.
Breweries
Distillers Co--3a 4tyd.
Buliding and Materiale
Axelated Portland Cement--72,
10 Wall & Læst
10.
41.
Coal, Hier and Engineering
Babcock & Wilcox
United Steel-01 .
Vickers Lu-33% 42,
Food and Tubsces
ᎠᎿ .
Also
#
to wages
can
steel
British American Toh. Ce.. Id-have no alternative to a distn-production is expected to be 7 kl.
Ltd--74flationary budget with all that Rupert Tubaces
of contraction and stifled enterprise.
kt.
Miscellaneous Burhan Marden Ltd-4 93. Brush Oxygen Lid. Ord-914 1
Canadien Pacific Rly-4774.
De La Rue Ch. Lil. Ord-Tim.
und tubber C-254 6
Fog & Chiụa Gün- 134.
Imperial Chemical-50; 7100. Ivona & Co Tag tyd Villever Lid-1304 Oc
Paper
Bowater Paper Curp Ord-73 6.
Ledio and Elfettical
Areciated Elrel-les-Gos 30. Electrical Musical-02 45.
Electric Co-471. General Electric-40 9,
Shipping Indo-China Steun Nav.
-234,
P&O Steem Navigation def wrd-
475 190
implies in terms
One fact
this but fur one fact which appears to have been overlooked by these so-persuasive pundits.
I might agree with
about 24 million tons or 20 pea
In 1959. ос ce: higher than the expected Increase in home steel demand during 1960, it is will estimated that about hal! come from increased consump- tion and half from
change from a running down to a build- ing up of producers' and sumers locks.
а
Elretric
Eker (N) 20
20
Telephone
INDUSTRIALS Coment....
主!
con-
Amoy Can.. STORES, ETC. Dairy
31 10
Sug~
The fact the Chancellor of the
In ús connection, the Board Exchequer knew in advance that says preliminary figures he would be faced with the pre-ges that the general run down Waton X 24.40
which sent situation.
stocks
recommen
$3 |trated 475 were higher and 535
Jower.
4.00
American exchange W1,180,000 shares.
deargin Pacific
General Dynamics
General Fittric General Foods
40 bunús
jail | Commi. Tature price index ..
10.70
1800 10.80
1000 29
500, 20.10 1000
1000.00
Closing prices
Abitibi Pwr. & Paper
Alden Inc. Acy,
Algome Steel Corp. Allied Chemicals
Allied Multy Inc.
Alis Chalmers
Glidden Co.
Goodrich (8. F.) Co. 620.19 Goodyear Tyre 151.10 Grumman Airerati
5. Get Oil
07.10
Haminnad Organ
82.00 Heyden Newport Corp.
145.72, A Walker
2000 # LD DO
יכל
30
4012
10412
Nations
Economic Commission for Asla
and the Far East (E.C.A.FE), SAS opens fourth
of which Britain is a member,
E.C.A.FE.'s Rail Sub-Commit-
help to
given mont
valuable year in Europe
countries in Asia and the Far East, but British dele-
formed the opinion that
scope for still more
outside the official
CANDINAVIAN Airlinos
System began its fourth
programmes. In particular, the year of flying straight over
special the
assistance
tho
over
North Pola "botwoon various rail-Europe and the Far East to- more readily day the route it pioneered
In 1957.
With the planeering of Hence the setting-up of the Copenhagen-Tokyo route Railway Advisory Service. This the Pule, SAS established the will be based in the United world's only Polar System, DS Kingdon, and will furnish ad- the oiriine had been flying the vice on particular technical and
California-Europe route, over economic problems. The Scr
the Pole since 1951. During the vice will co-operate with three years of operation of the British Rallways and Industry Polar System, SAS has carried studying the problems for-a record total of 115,000 pus- warded from the EC.A.FE. sengers and 5,850,000 pounds of countries and suggesting solu- freight un 3,000 nights. Just on flors. And it has blready been the route from Tokyo to Copen-
thri recognised
sometimes it hagen, SAS has carried somo neosary to send out 2,200,000 pounds of cargo. experts to examine e problem
entes
40%
there was
aspistance
161
belleved th31
the
Homemake Mining Co.
problems of the
Idaho Power
4016
ways could be
Imperial QU
242
solved if this extra
pertal Tobacco
1142
$30
RCTRO-I
41%
was avaliable.
Inland Steel Co.
70%
34%
Interchenies) Corp.
40
2
31
fall Business Machines
42
2414
Int'l Harvester
37P
International Nickel
37
800 281
Am. Bicke Shor
16
International Paper
140 306
American Airline
21%
In Tel & Tel
119
341
460 30%
American Cable & Hadio
Johns-Manville Co,
500 344
Corp.
19
Kalmer Industries
13
Autrica Cyanamlu Co.
59
Ken C. Power & Light
402
Amer. & Furgn. Power
45
500 4 415
Am. Gas & Electric
Kimberly Clark
Kenneentt Copper
in
Am. Home Prod.
153
Liggett & Myers Tou. Co.
800
Am. Mach. & F"dry.
54% Lily Tuto .....
25
Litton ch
GO
Lockheed Aircraft
American Smetting
43
boews incogp, ...
Am. Sugar Ref.
33%
Lone Star Cement Co.
will be
America Tol & Tel
07
Lowen & Sons
Americna Tob.
196
MeDermott J. Ray
Anaconda Copper
67% McDoneli Airesaft
05/2
Mexabi Iron Corp.
41%
BK | Monsanto Chemical Co.
151
40
62
National Cash Reg. "A" 424 National Dairy
Prix).
44,75
500 44.75
700 44.75 121445
450 / 505
1000+ 24.10 Deo 21.30 300 of 2120
2000 11,75
American Metal
Am. Natural Gas
Arneo 6toc]
AMRAN
A
Asbestos Corp.
Alan Cons Mining Baldwin-Lima-Hani. Baltimore & Olator
SUP Montreal
of Nova Scolis
Beil Telephone
Beneficial Financo
Пendix Aviation. Corta.
Benguet Cona.
Bethlehem Steel
Minnesota Mining
Mision Development.
Montecatini
Montgomery Ward
Motorola inc
62 National Biscuit Co. 34
1
National
7134 | National Steel Corp.
New York Contral 40% Noranda Mines Ltd.
In
consumers'
Lane, Crai
31%
co, det
He knew that the oficial com- started in the second quarter of mittee set up to investigate and 1958 ceased during the last
COTTONS Textiles
..
0.75
100314 500 11
1.0 3000 9.70
1000 6 9.00
Navone
15:40
500 ir 15.441
make
change compared with INVESTMENTS those at the end of the preceding | #K."&"FE quarter-China Mail Special,
Allied.
0.5%
Invest. XD 1400
1600 15
Grest Univeral Stores "A"-306 Marks & Spencer Ltd-71x 3d. Woolworth F. W & Co-Gox 50.
Textiles
Coal IAP 30 4. Courtaulda 1.tc?<_101e!.
on raitmen's wages quarter of 1959 as stocks at the would be bound to urge in-
end of the quarter showed
the
creuses.
He knew ton that these recom- mendations would bre about now.
The only fresh factor is anti-
Cons Goldfields of South Africa-cipation by a couple of weeks of
1973 60.
3,
Conk Zinc
the Beer Bot" Pron
1lonekong Tin- d.
Petaling Tin-1 d.
1-100
74%
Southern Kinta Cour Lil-28 d. Union
410.
part of the increase as a result
of union militancy.
the
Yesterday's Closing
That is not to say that Chancellor in sangute about the present situation. lie and the President of the Board of Trade
West Drain Cofrin£zug—191# and several inßuential bankers
British Boro Petroleumi
cates 10150.
British Petroleum.
EM!
"Burma-17 0.
Shell
.
Co.,
here have repeatedly of late Byndistressed the averriding need for Lid-6 economie stability.
And they have cautioned again and again against taking more Transport & Trading-149 out of the economy both in terms of wages and profits than the present state of prosperity merits.
Router.
Rubber Knotty problems
market review
New York, Feb. 23. Rex rubber futures today closed 30 higher to 15 points lower with sales of! 19 contracts.
With a holiday still apparent, the market displayed a steady
not
At the same time the Chan- cellar is well aware of the con- siderable amount of unused capacity in Industry and the knotty problems of regional un- employment in Wales, Scotland nad the northeast of England.
Only a continuing expansionist policy can take up this slack. Any overal! islationary polley emerging from the budget would be a backward step from which recovery might be a long process.
The conclusion to be drawn from the foregoing therefore is that the Chancellor must pursue polley which is expansionist but selectively so.
he
It is only very mildly liberal to-
Lone in company with the foreign Given that nothing drastic markets and Indications of unhappens in the meantime, I be- underlying inquiry in the spot lleve that
the budget will market from lactory interests.
the market cicouraging to industry even if In Singapore,
shule below opened a night's close and in almost com- pite absence of trade, prices towards end of slowly begged morning.
Interest limited,
Receh Life Savers
on the sport.
As a general oninciple, it is
Intended that the service will Reduction in
cost the applicant countriesį
nothing. In the rare instanzos
when II small fer
proves air freight
essential, the country concerneci
will be informed 'In advance, sa
Now York, Feb. 23.
that the request enn be with-TROLLOWING the change-
drawn if desired.
F
4015
MANY CAN BENEFIT
over from the US Gov- ernment's Military
Norfolk & Western Ry. North Amer, Aviation Northwest Atlas (Com.)
to
Air the
2431
Olin Mathieson
4738
OL Elevators
Oven-Ilmuls Glaser
100
What I think is of particular Transport Service note is the number of countries Armed Forces use of com- which can benefit. They include mercial airlines, as recom- Afghanistan, Baina, Cambodia,mended by President Eisen- Indonesia, Japan, Korne, Laos,
Nepal, the Philippine Republic hower, it is expected that the sharp cuts will be made in of overseas air freight ratos for at Ceylon, all shippers.
and Thesland. as well as Commonwealth
47
19
439
4074
2144
2024
India, Pakistan
3827
Procter & Gamble Co.
90*
COMMODITY PRICES
METALS
NEW YORK
Oxford Paper Co.
Pecide Cac & Elee. Pan American Airways Paramkunt Pictures
Parko Dave Co.
Fenny J. C. Co.
Pern. Salt Co.
Philip Morris
Pitney Bowen
Pittsburgh Plate Clas Publicker Industries Pure Olt.... Radiu Corporation Recio Corp. Pref. Raytheon
Republic Sieci
Reynolds Metal
Reynolds Tob,
Royal Bank of Canada
prices, all in cents brem Mfg.
NEW YORK
All unquoted.
28-88
ស៊ុច
Morch
May
SUGAR
Oct.
Dec.
SAO PAULO
'Chasing prices all in cruzeiro per luto).
Closing
per lb.:
Lead
Mar.
May
Zind
Mar
May
Copper
Mar.
May
Closing prices all in cents per lb.:
Contract No. 4 (work) March: 3.02; May: 5.07: July: 004: Sept: 3.18: Oct: 3.11; Jan: 350; Mar: 328; May: 320: Spot (F.A.3. Cuba): 1.80
Total Solce: 102 contraeta, Open Interest: 0,585 contracts. Contract No. 10 (domestic) March: 8.00: May: 5.73: July: 8.81: Sep 150: Nov: 8.00: Spot (C Nex-duly): 650.
Total Sales: 31 contracte. Open Interest: 24 Upi
contracts.-
Average price in US. at 14 dezizu abed spot markets: 12.05 cents
Tata rates: 29.445 balex-UPI.
RUBBER
E-bid: imaged.
mountries
North Borneo, Malaya, Singa- Such reductions should act ag pore and Hongkong. A third a spur to a boom la air cargo 72% of the world's population lives chipments according to mem- 10 in these countries
J38
709%
4524
Britain's own railway modernisation programme en- 0544nbles her to draw not only on 1934 past experience, but also on 734 the most up-to-date informa
tion and research. AJI the
bers of the imde.
Typical of trade reactions was that of Mr R. A, Norden, Pre- ident of Seaboard and Western Airlines who said: "In ca- couraging the air cargo indus- try to procure additional modern
major forms of traction are in turbine-powered cargo aircraft, use on Brich Railwardlex. thle action will make possible team and electric. And her in- further reduction in air cargo has rates which will work to the tricate rollway industry
economic benefit of the shipping the public and the Defence estab
as to the economy." China
Sears, Roebuck & Co.
40%
| Shell Qu_Co.
Safeway Atores
3TX
21.25
Saint Fog. Paper
45%
11,300
Rest Paper
7313
Ancair Of
15.cat
Smith. Kline & "French"
been
11.745
Secony Mobil Oli
Britain.
equipping
but
10.
only
mont
of
South Puerto Rico Sugar
32/02-031
Southem. Natural Gre
30.27-30
Southern Rollway (Com)
Sperry Rand...........
2014
Bordard Berndy
LONDON Closing prices, all in sterling per long ton
Duyers Soliers
NEW YORK Rex rubber
Tin futures closing prices, all in cents per ib.:
May 30 July: March: 27.80; 35.05; Sept: 30.30; Novi 57.60; Jan:
3030: Mar: 20-25,
SINGAPORE
COTTON
NEW YORK
prices
all in cents
Closing prices 'cents per lb. porta: No. 1 Fab. Mur
No. 2 Feb. No.
all in Straits fo.b. Malayan
11432-1103 11474-1153% P3-11414 113-114K
5 Feb.
Spot rubber unbaled
Blanket grope
111-115
131-133
LONDON
No. 1 pale crepe
Clorting
wards the ordinary taxpayer,
per lb.
Apot
23.25 num.
And I bellove that this is what Mr Heathecal Amory has lind in mind n along.-London Ex- Weropress Service.
Kinects
May
33.12
July
Oct.
20.72
Dec.
30.01
March
Mery
×1,41
July
16.:
Oct.
No. Tus apot
23-001
Dec
30.08
Bettlement House torm:
NEW ORLEANS
33-334
112+4-3215
DIR-3
BL-21
in lowers
The market ruled active but Inter afternoon In early
and prices aellera withdrew advanced on some March No. 1 Roy and No. 2 Itst buying.
AJI other gradea werd neglected.
In London,
Exchange rates
Dusine was there in the ineei omcial
exeling market
morning at the followiɔw rates;
3.8, dalline (per $1),
the rubber berling noten (per £1
stendy with Australian noles (per 41
spot quoted at 23-1⁄2 peños pertadonenses rupiah) (per 100;
maricel Wán very
pound-UPI.
All ties (1 100) Biognouļu (Siraita)
Clohing prizes all in peños per
May Apik/June Juty/Bapt Closing prices all in cents Oct/Dev.
1970 1.10
Thuk Mateli
July
21.00
***90
300
23.00
Jan/Max
Catteral markets, e.id, basin, portal March 4pril
70235
JULI
Standard Oll of Cal. Standard Dit of Ind. Standard Oil ct NA. Steel Co. of Conado Sleep Rock ...... Sterling Drug Co. Siakoly-Van Comp.
Stone Webster
Btudebaker-Packard Corp. Buhine Mining Swift&Co.
Spot 3-month
Cooper
Spot
3-month
Lead End hal
Feb,
Mar
74%
Zine and mail
Talok
Feb.
May
UPI.
FOREIGY ENGILANGE
LONDON
Closing rates; New York Montreal Amsterdam Copenhagen
{ Frankfurt
Qu.... Pwin
20-3330 Millen
March 3 te, crepe thin
Mink Mareb
Klockholm
VIDNE
21.00 5/15-3.0 7/16 12.00-12.62/LE
-
50.001-2003#1
12.701-17,701 14.03-14.612
Texau Co.
Textron Itic.
Che....
Tide Water Oll
Time Inc.****
Traders Financo
Ti-Cont: Warrants
Twentieth Century Fox
Union Corbete...
Union Oil of Cal,
Union Pacile hallway United AirTAIL
United Frut
United Gas Corp. UR. Zoll B***
UR. Gyps
UB. Line Co.
UB, Mobber
U.S. Smalling
UB. Steel T.C. P7 Warner Bros.
. | Waukesha Motors
Westinghouse Air Brake Westinghouse Kiestrie en Western Union Tel, Co. Wees Va. Pulp & Paper Was-Blxle Biore Woolworth K. W.) Family Radia
world's railway systems for soshment, as well
notional
many years, that tow probimna can be new to it.
It is worth emphasising that
Mail Special
the United Kingdom Govern Soviet-Iraq
451
про
ment
114
50
15
18
solidly behind
the
Railway Advisory Service. I
regards it as part of its broad air agreement
50% effort ta
113% growth
Baxa
arist the economic under-developed
48% Innos. The British Tammet 70% Commission has deleted
11/0
Teheran, Feb. 23. THE wookly magazine the
Mc Menber
THE
Teheran Economist re- John Halter, handling technical matters, to portod recently that Soviot effect iaison between the Añ» Jalelines signed on agreement visory Service and the various with Iraq permitting Russian hentiquarters and departments
Aru planos to oparate there for have four yours. British manufactureSTR mada an
immolato fresponce
British
Railways,
the services of their staffs when needed,
The magazine said the ogree-
by offering their imowledge artilment was signed by Bogra and would provide for the operation by Iraq of 12 two-and-four- creened Soviet planes.
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RAILWAY ACTIVITY
wide ruam of problemer
It was reported that under is subdeal rates would be half of thom charged on Bellish ¡piarion netvicing the area. Dil
The Iraqi Formign Ministry of railway civil and aviation officials approach
plannlog operation,
tenance
mada-
desilgr
equipment, ou the Sheikh of Kuwail lo Thying of rails and administra.gals his consent in operating the new Iroql-Soviet aktiive The value of this sort of co- Inda Iuwait, they report sald operation has, of moe, boon [UPL