Pakistan Would Welcome Foreign Capital
BUT MUST BE FREE OF. POLITICAL STRINGS
:
London, May 31,- Mr Ghulam Moham- med, Pakistani Finance Minister, declared here today that the Pakistan Government welcomed the investment of foreign capital in the Dominion provided it did not have any "political, strings" attached to it.
The Finance Minister said, "Foreign invest- political ments must not prejudico Pakistan's independence and economic integrity.
"All Industries bosidos'a few-key onos liko armament production projects and hydro-electric schemes are open to foreign capital.
"In some industries foreign investors must offer 30 percent of the shares to Pakistan nationals, ́·but if Pakistan nationals fail to take them during the specified period then these shares may be held by the foreign investors themselves or offered to others.
"There is no other restriction, but all we stato la that the people of Pakistan must be given an opportunity in the building of their own economy.
Berlin Railway Strike
{ "There are other industries Iri which this 30 percent restric- tion does not apply."
The 54-year-old Finance
| Minister told Reuter is an ex- clusive interview that recently a great spate of enquiries about Investing foreign capital Pakistan had been received by his Government from all over Europe and the United States.
CAUTIOUS INVESTORS "British investors and cautious," he said. "Britons
are alow
who had had trade relations with the undivided India of pro-independence days and whe now have assets in India have a fear that their investing capi-
tal in Pakistan would, not be viewed Viewed with favour by the
NEGOTIATIONS Government and busi-
ness."
He hoped, however, that Bri- REFUSED ish businessmen would cost
aside this unwarranted" fear Berlin, May 31.-The and realise the contribution that Soviet-controlled railway Pakistan has made and would
administration
economic wealth.
make as a democratic state to today the cause of world peace refused to negotiate with į through its stable financial
Post the Berlin workers whose tion and existing and potential strike all but paralysed Asked
whether Pakistan rail traffic here soon after would acek a loan from the the year-long
Bank Mr Ghulam blockade was removed.
Mayor Ernst Reuter of West Berlin
invited. had
Russian
WIN
World Mohammed replied, "It is too premature to say anything yet. But it is obvious that for Pakis- Kreikemeyor, president of the one of the sources that Pakistan lan development programmes East German railway adminis-
will be the World tralion, to negotinio with may tap
leaders of the 10,000 striking
Bank."
rall workem. The Soviet-con- | DISCUSSIONS PROCEEDING troiled Berlin radio announced
Me Ghulam Mohammed' con- that Kreikemeyer brushed offirmed that discussions are now the proposal, but it said
proceeding between India and would negotiate with men of Pakistan to evolve the striking Communist union
agreement between tho two of railway workers.
ho
The radio did not explain how the Soviets and their German representatives, hoped to settle the strike by dealing with o union whose membern were not on strike.
countries
a payments
He disclosed that on Indo- Pakistan conference would be heid. In Karachi in the next week or two for renewing the present Indo-Pakistani one-year trade agreement which expires on June 30 next,
THE HONGKONG TELEGRAPH,
The casket of James Forrestal rests beneath the canopy at funeral services for the former navy secretary at Arlington National cemetery amphi» theatre. Mr Forrestal jumped to his death_from the 18th storey of a navy hospital, Bethesda, Md.—
AP Picture.
B-36 Bomber
Programme To Be Investigated
Committee Wants To Test Truth Of Ugly Rumours
Washington, May 31-The House Armed Services Committee today authorised unani- mously a "searching investigation" of the Air Force's B-36 bomber programme.
The Committee asked the House for sub- poena powers and US$50,000 to carry out the investigation.
WEDNESDAY, JUNE 1949.
Britain Now Receiving Her Marshall Aid
London, May 31. Britain is now receiving prompt payment of Marshall Aid, formerly in heavy arrears, according to the quarterly official Report on Economic Co- operation, issued in Parliament' today.
In the year up to the end of March, Britain' had claimed $1,007 million under the Economic Co-operation Agreement, of which the ECA had paid as much as $989 million dollars.
Turkey Desires A New Pact
-A
The arrear of $177 million ot the end of the December quar- ter had, therefore, been brought down to $18 million.
In addition, Brita'n had spent, but had not yet claimed, -over $134 million worth of ERP goods and services, and had $175 mill- tion worth of firm ECA com- mitments still to spend.
The report said that, as a re- suit of receipts during the first
ཅ་
POCKET CARTOON by OSDERT LANCASTER,
"It's rather terrifying to think that, with the odds shortening the say they are, it's three to-one that. In 20 years' time. 48"}} bea full-time clou servant."
Breaches
Of Peace
Treaties
SERVE NOTICES
quarter of 1040, gold and dollar¦U.S. AND BRITAIN holdings rose from £457 million ($1,820 million) at the end of the last quarter to £471 million at the end of March, but were) still below
to
HONGKONG TELEGRAFI 1-3 Wyndham Street, Hongkong: Published daily (afternoon). Price, 20 cents per edition. Subscription: 98.40 per month, Postaci China and Macao, per month. UK, British Possiasona and other countries,:". $4.50 month,
News contributions, always, Wale come, should be addrested" in, thê Killer, business communfoationa and advertisements to vila". General Manngor.
Telephones: 26015, 20816, 26617.
NOTICE TO ADVERTISERS
Advertisers are requested to note that not less than 24 houre notice prior to the "day" "of publication should be given for all commercial display advar
·lisamente,. change of copy, ela Notices and classified advertis monis will be received up to, 10 a.m. and urgent notices" untij noon on day of laun.. Satur days not later than 0930.
FOR SALE-
YE OLDE· MILL, A distinctive hand made stationery. In boxei 23 London, May 31-Britain shecis potepaper, 23 envelopes 13.50 Visiting MPs Put
per box from Soulb China Morning the £552 million and the United States today. FORL Forward Ideas
($2,208 million) figure for the
the NEW EDITION of Website end of March, 1948, when ERP Presented notes
axported began.
Rumanian, Hungarian and Measurements of Cargo London, May 31.
from longkong and Bouth Chrism The volume Index visible ex- Bulgarian Governments, in-computed by the Beer Kexturers, Turkish member of Parlia- ports in the first quarter of 1940 forming them of their in- 15 from the Bouth Chios Moriag ment. Mr Husein Yalcin, taking the 1938 Dgure as 100-tention to set enforcement 1.1 Government Import and x- called today for the conclu- was 10, compared with 147 for machinery in motion regard-port-Licent Farms. 10 cents each.
the previous quarter. This was Ision of a "Middle Eastern the highest figure attained since ing the peace treaties with Obtainable at ", C. M. Port
Pact" as forerunner to the war. an eventual Mediterranean pact.
these countries.
They also presented notes to the Russian Ambassadors In Sella, Bucharest and Budapest, calling upon them to take part in the decision to enforce the three peace treaties.
Posi
ON BALE "Food and Flower". Nos. 1 and 1 by Dr.D. A C., Herklot Over thirty fluxirations of local flowers and fruits, Prico six dollars, Obtainable at "8. C. M. POLL.“. ATLAR Writing Pads 8 Berib bling Pads, Hires; sizes 25, 50 centa and 31, 78, CA MJ POSL” D
INVISIBLE BALANCE. Imports, at 79 percent of the Mr Yalcin, who is here with 1838 rate, were slightly above a visiting group of Turkish the rate for the last quarter of MPs, told a press conference 1948 and for the average of the such
a pact should comprise your as a avaliable sinco Turkey, all Arab countries Figures
the Among the breaches of OFFICE STATIONERY, Letter Heads, south of Turkey, Iran,
inst Israel,
quarterly report was political liberties to which the Memorandum Forms, Viziting Cards, and
15 the "gatekeeper
pubilshed showed that for 1048 British and American notes Envelopes etc. Orders now taken.
“B, C. M. Post.". He said such a the invisible balance was notably referred were the recent trial. of Africa". Middle Eastern pact was only better, giving a surplus over the of Cardinal Mindszenty in CASTLETONE FINE. STATIONERY, possible, however, if "we have year of £98 million, as com- Hungary, the trials of Use 15 Three pleasing shades in boxes of in the Middle East first" pared with a deficit of £189 Protestant pastors in Bulgaria, paper. 1.00 per box, obtainable at prace
"Before this, WO
and the execution in 1947 negotia'c, such a pact"
desire
25 envelopes and 25 sheets 'note»
of "9. C. 32 Pos
cannot milling the intra-European the Bulgarian Opposition Icader
Mr Yalcin emphasised his payments scheme, the report M. Nikolal Pelkov, and the life
that during the sire to have Isract Included said
three sentence on
the Rumanian in the proposed group. He said, months under review drawing Opposition leader
M. Jullug "There should be no discrimina- | 'ghts were excrelsed against Maniu. tion between. Middle Eastern Britain as follows: countries."
LIKE UNRIPE FRUIT
France-£18,380,820; Austria
German
Bizone
PROTESTS REJECTED
CLASSIFIED ADVERTISEMENTS.
Britain and the United States MAY BE BOOKED AT THE
He said a Middle Eastern pacis parkey £1,488.834. protested to Hungary, Rumania | EVERGREEN STORE CORNER was preferablo to a Mediter of intra-European trado stimu- alleged repeated treaty breaches | ROADS, KOWLOON.
an
and.
future strictly to enforce the FIELD IDENTIFICATION political liberties laid down, the Note Book, The Birds of long- Western powers would take kong Dr Dr. Or A Herklots, steps to see that the treaties are $720, 8. C. L. Fost
litetrated by: -74. Eng~~drawings; -
The report stated that the flow and Bulgaria last month against OF NATHAN AND JORDAN ranean past because lated by the intra-European pay Governments undertook in the and said that unless the three "easier" to achieve. He added:ments scheme and Marshall Ald "A Mediterranean pact is like continued to increase. Particu unripe fruit-if you cat larly marked increases were re it now you will not get the same ported in British imports of food, sweet taste from it as if you cat drink and tobacco, and increased It at a later time,
Mr Yalein, also that both
said should be modelled after pacta
treaty. He sald the Mediterranean pact should in- |
the
exports of raw materials and en- |gineering products—Reuter.
enforced.
All three Governments TE-FORD'S ENETICES BLOTTING jected the protest as unfounded. PAPER. White, in stents 1712
The British and United States cus 20 any sind 20 centa per sheet, $12.00 per 100,"8, C. D. action is the first move by any Post."
clude all countries bordering the New Move For Alled power since the end
Northern Mediterranean.
Turkish members of Parlia- ment visiting here as guests of the British Parliament today! complained to British MPs about Turkey's exclusion so far from the Council of Europe, a mem ber of the Turkish group dis closed.
Mr Kasim Gulek said Turkey |
Peace
In Indonesia
*
of
ON BALE: "Vegetable Culilvation. in Hongkong, by Dr G, A, C, Herklot, Over 200, pages:"05 draw – ings. Price $12.. Obialarble at "8. C. H. Post,"
Kreikemoyer was quoted- as; said, "Our trade policy is not to wash Investigation. We will fort/Committee get to the truth about ment in the case of the Council the Jogjakarta Residency have dors concerned are not, there- sale at "6, C. M. Post, Ltd."
in Western marks.. Ho sold he would pay them 60 percent of Uncir wages in Western marks and 40 percent in Eastern marka. The strikeleaders had previously rejected that offer.
countries.
liveries
The
was
•
Mr
van
2
cease-fire In
tlon-Reuter.
NOTICE.
HONG KONG MINES, LIMITED.
Will
FRINTING of wvary"description in- cluding: Bookista, Reports, Balance Bheel
Articles of Prompt sarvion. Manager,South Fort, Ltd."
Association, Apply: General China MoERIE
the war to take definite steps to see that peace treaty obliga- The chairman, Representative Carl Vinson,
tions are fulalled. · · said the inquiry would cover not only procure-
London diplomatie observers ment and performance of the controversial six-
pointed out that Russia has con- WILL FORME, Power of Attorney engined bomber, but would also go into the
sistently dissociated herself from Jorma Tenancy Agreement Forms
on sale al "S. C. M. Post, Ltd.” the British and Americon whole Air Force concept of strategic bombing.
charges of peace treaty violations | THE "POST""" Typhoon : Map. Unr "We will let the chips fell used. Mir Vinson said it meant,
Batavia, May 31.-The Dutch by Bulgarfa, Hungary and Ru- mounted 4, Mounted 3, "B, C., M.
Post, Ltd. mania. COMPROMISE OFFER
where they will," said Mr Vin- "anything that might help this was dissatisfied with her treat- and Republican authorities In Of Pakistan's trade policy he son.
The three-Russian Ambisin- THE COMPANIES — ORDINANCE “This will be no white
1932 Annual Return Forma, DOW, Un the B-30." Ho ald the of Europe and Turkish MPs ordered their respective fore, expected to take part in reaffirming his previous com- be dependent on any one coun- guilty anyone who ought to be phrase covered, among other brought this to the atten forces to avoid
in lo strikers who try. The greater the diversity found guilty. We will exonerate things,
the proposed promise affer
enforcement ac- THOSE MAGAZINES' you wish to "innuendors"
which tion of British official quarters, arms," as the first step towards
keep walked out 11 days ago deman of trading the better. We believe anyone who has been wrong- hegald
look better and tast Zandt
INSEPARABLE
Indonesia, a
jonger pertly bound. We specialise ding that they be paid entirely in multi-trading with all friendly fully charged."
had made In his
Commission statement
.. Nations
in Bookbinding. "8. C. M. Post, United. "We feel Turkey was not
Ltd. The Committee went into läst work
dealt with in the right way." spokesman said today. "As the world's economy action as a result of charges of TO DO REAL JOB said Mr Gulek, Turkey is an Details of the second part of recuperating the position of do- irregularities in the purchase of Mr van Zandt said that In inseparable part of
order, to cease Europe, the cease-fire of capital goods to the B-30, a plane manufactured this event he would
form economically, cul- immediately abandon polluically,
any
of sabut- Pakistan is improving."
urally. Since Turkey is bas- 480, destruction, obstruction, Minister added, "Our by Consolidated Vullee Aircraft his own resolution to sel
Corporation, of which tho
tion of Western democracy irado
and subversive activity. special investigation committee. position good and our Defence Secretary, Mr Louis
and mining exchange position is satisfactory.
formerly
· Sterling, Cole European Ideas, I feel it only have still to be worked out by Johnson, Mr Ghulam Mohammed sald
wanted to know natural Turkey should not only the peace-making joint Dutch.
The Company is now able director.
Republican Sub-Committee for whether the investigation would be a member of the European had spent 200 million rupere last that the Pakistan Government
cover the Air Force's overall Unlon but even one of the in-implementation.
to register transfers, and year on development schemes in
- NOTHING TO, HIDE- policy of
Meanwhile, the "evacuation of holders of share certificates strategic bombing viting powers Representative James
van which had been built around gues in
"We told this to our collea Jogjakarta by, those who wish desiring. samo transferred Pakistan and intended to spend Zandt, Republican member of the long-range B-30. Mr. Vin- the
this country. Our to leave before the return of into their names should more in further scheme.
the Committee and a naval re-son replied that it certainly feelings have been hurt. A the Republican Government 13 arrange for delivery of such BIG PROJECTS serve officer, told the House last we will
would,
country like Turkey, spending proceeding at the rate of 1,000 week that "ugly" rumours about
"Into"
anything more than half its budget on daily.
scrip with relevant transfors the B-30 involved not only: Mr. that will help this Committee defence which is both ́ defence Forty-five thousand persons attached to the Registered Johnson but the Air Force Secre- determine whether the purchase. of our own frontiers and de-are at present registered for Omce of the Company, 3rd many, as well as the elevated and privately financed, we intendry, Mr. W. Stuart: Symington, of the B-36 is in. the best in- fonce of Western Europe, has a fovacuation and the population Floor, Prince's Buliding, Des
and Mr Floyd Odlum, who, con- terest of the country," said Mr natural right to be a member has been informed by loud- rail Bystem in West Berlin, to spend about 300 million trois Consolidated Vulloc
Vinson."This Investigation of the European Union" speaker
Vocux Road, Central, Hong- vans and pamphlets standstill.--United rupees, in, the next few years,” Mr Vinson (Democrat) sald cannot be started tomorrow
·British : sources said it was that evacuation lists will close kong, before the 14th June, he said. T priority to hydro-electrical and Lost in its investigation of these right.
"We are giving the highest thing to hide and nobody to promoting or ended Saturday expected Turkey would be in on Saturday next, after which 1949.
We are going to do a vited to the European body at the Dutch authorities will not real job here here irrigation projects and health rumours.
the first meeting of the Council guarantee evacuation. Will be led He said the pubile :
The Investigation will be schemes," and education
at Strasbourg this summer- he was entitled to know whether in closely with the pending, test United Press. odded,
there were grounds for the of the B-20 He said that he expected to charges,
against Navy Jet fighters. - The - Alt › Force, has leave London by the third week Both Mr Johnson and Mr said the big bomber is almost of June, when the Anglo- Symington have denied any invulnerable. The Navy says its Pakistan Sterling, negotiations Irregularity In the B-30 pro- McDonnell Phantom twin-jet London, May 31/Diplomats, will have been concluded. He grammu, Mr Symington said the carrier
fighter can knock it Cabinet Ministera and
in would go to the United States stories about him were false and down easily-United Press, dustrialists today attended a to "study the economic indus- he welcomed a chance to prove
- Το get Western marks for the proposed payment, Kreike- meyer said rail tickets sold in West Berlin, beginning to
morrow, must be paid for in West
which are worth moro than
there is no way the can collect money of "We are setting up corpora any kind
ilons for key industries and until trafns Bre
these running again. Rall traffic be- through
corporations, tween Berlin and West, Ger- which will be both Government
was
at
Press.
Danny Kaye
Honoured
American comedian. Danny try and to contact important
the Committee would have "no-
Mr,van
go
luncheon In honour of the trial organisation of that coun-I them 50 and asked what Mr Kays, paying him one of the financial and Industrial in Vinson meant by the phrase Found No Signs Of
greatest tributes ever accorded torosts."-Reuter..
by this country, to a vaudeville
Caught before by is un
predictable departures
from
script the British Broadcasting risked putting his speech on tho But the comedian was in
alr
sober mood and told how His impression. of Britain had changed from the boller that the English
and unemotional to a knowledge of
ollonal
The
dor
that's
were
cold
thair
warmth and
similarity y to Ameri-
Mr Lewis
United States Ambasa-
Douglas,"
declared thal Danny Kaye was a better American ambassador of good- will lian the sedate personalities went out by officialdom
Among those present were The War Mialmet-Me Emmanuel Shinwally the Colonial, Minister Forsale, Lord Liftowel, the Lord.
wer of London, and repre
" of the 2: screen and
FESIONS PRESS BERUNIX.
collateral matters" 'which "ho'
Xou're going:lo haye to talk to Junior. He
to know when he starts delivering babie
New African Railway Project
By Order of the Board, MARTIN & Co,
Secretarios
The Sultan of Jogjakarta has protested to the United Nations Commission, through the Re-i publican delegation, against the Hongkong, 31st May, 1949. entry and search by Dutch troops of Republican offices in { Jogjakarta, The Sultan
that troops confiscated docu- ments and lists of personnel and
BERMUDA'S NEW GOVERNOR
Lisbon, May 31-Transporta-made some arrests Router. d to ine, United States for a tion experts meeting here look Terrorists
possible grant of $120,000,000 to Ankle and help build new railway and an international highway link- Singapore, May 31Security. forces have fund no terrorists, ing four potentially rich central dend or alive. In the eight-
African states.
The Central African delegates General Sir Alexander Hood,
London; May 31-Lieutenant | square-mile area of jungle near who attended the transportation former Director General of the Kuala Lumpur which the Royal Air Force blitzed for four days meeting yesterday urged the Army Medical Services, has Portuguese government to pre been appointed Governor and Last week, a spokesraan cald."
Army forces were still search building a railway
vide funds : immediately for Commander-in-Chief of Ber
connecting mude, It was
announced to inst the area, he added.
The RAF had dropped more guese-controlled Mozambique He succeeds Admiral Gir
Boila, the biggest port in Portu-
night. than 12 tons of bomba-Reuter, with the Bellish mandated Ralph Leatham, whose term of northern and southern Rhodosin office will shorily expire, the Becomes American and Nonferenco also urged the Alexander is 60-Reuter.
Nyasaland, Maza.IPLE
Colonial Officaid. Sir
Rhodo
Los Angeles, May 31-Lan-
Powernment öt Southérn cashire born Brenda Hopkins, sin to build a railway connecting daughter-in-law of the late Buybridge and West Nicholson, Harry Hopkins, onetime leading a project planned before the war adviser to the US President, but! was granted.
resident, but never carried out This
-
SEES THE KING London, May 31Mr. Malcolm
ship. In Los AZ ACER VO PASKUs agra eral in South East Asia, now, In
the
COMING TO THE
LEE THEATRE
AL JOLSON
says:
"ONE OF THE
BEST IN YEARS!"
KOTVELRATH'S
MacDonald, Commissioner-Gen- IT HAPPENED ON Penhurband, Hollywood amourenco Marques propont Condon for talks with tho
5TH AVENUE | Government,^^ was received by Hopkins, Winess Soulheta Rhodesla's only all the King in audience of to the port with Cape Buckingham Palace, today, and 1,000 miles wouthUifed, stayed for lunch with the King
ed The Ceremony. The bar were married in England Associated Pro
STAR
Phone 5 A535
17 Hankow Road, Kowloon,
TO-DAY:ONLY ----
At 2,30, 5.10, 7.20 6. 9.30 p.m.
ABBOTT CONTELLO
"The Time of
Their Lives
MARJORIE REYNOLDS - BINNE BARNES JOHN KALÍTOM · MESS JAREER QALE SONDERGARE
-TO-HORZOW,
"THE_FOXES of HARROW"
Starring:
Rex Harrison-Maureen O'Hara -
The Smile
That, Wins PEPSODENT Smile