1960-02-24 — Page 2

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