1950-12-01 — Page 7

THE HONGKONG TELEGRAPH, FRIDAY, DECEMBER 1, - 1950..

EDITORS PRESS SERVICE, INC.—NUEVA YORK

1194 KAU EDAY EVENING PORT

"I didn't believe him when he said they were the best seats in the house."

Steel Industry In Africa?

By Geoffrey Jenkins

and branches would be sent out to mining sites, were the development to take place:

FOR THE

THE BUSINESSMAN

70

UNITED STATES Chicago Grain

TO CO-OPERATE

IN EMPIRE AID

Washington, Nov. 30.

Futures

Chicago, Nov. 30.

The Thajority of grain futures held around the best prices of [the day at the close. Trade was relatively slow. Soybeans again dominated the dealings, American officials hailed the British Common-moving up to 41⁄2 cents a bushel higher at one stage. Some wealth's £1,800,000,000 economic development pro-pressure on wheat pushed it gramme for South and South-East Asian countries wheat futures closed centy

14 cents higher. as a major move toward stabilising that area, and higher to 4 lower, corn was promised the United States would co-operate with lower to higher, oats 1⁄2 to 1% higher, rye unchanged to the new plan to the fullest extent.

1% lower and soybeans % to,

A State Department representative told the 2 higher.

Prices of grain futures closed

Wheat-price per bushel December

May

United Press the American Government, believes today as follows: the Commonwealth plan provides a basis for spok genuine economic progress in South-East Asia,March (1951) and pointed out two ways in which it was thought the United States would co-operate:

May

Oat

2.2014 2.2016-34 2.30-12

2.004-0

2.2412

1.63%.

1.5994-%

1.6230

1.039-54 1.0314-

1.4234-1/4

1,52

December

0476-15 03% New York four-per 200 I rack, $12.30-United Press

Firstly, by providing, under The $300,000,000 American aid March (1051) President Truman's Point Four programme for South-East Asia, July

to as- which is envisaged by the Ad-ember programme, technicians sist on the Commonwealth pro-ministration, is still in the plan- Ject wherever such aid might be ning stage. Officials estimated it May: welcomed and useful,

would be another month before Tanganyika may become Tanganyika, will be linked to Secondly, by consulting the anything definite is reached on Merch (1951).

on how the the programme. They thought a the focal point of an im- the Northern Rhodesian system, Commonwealth

United States should spend its request for congressional appro- mense steel industry serv-

contemplated $300,000,000 yearly priation would not be made ing the British territories

economic ald programme for, until the new Congress meets in of East Africa as well 28 Not only would existing South-East Asia in order to January the strategic needs of mines turning out other base avoid any overlapping with the

minerals be greatly assisted Commonwealth programme. British and Colonial Forces by railway development, but the

American officials said ́the based on East. Africa.

exploitation of oil, or an oil- United

States is prepared to would supply information on projected Engineers

the of

Colonial from-coal industry, Development

aid pro- Corporation are prove

their American great benefit in enthusiastic

grammes about the value | future development.

In areas affected by the Colombo Plan, so there will and otentialities of big. iron The Colonial Development

needless duplication of deposits at Liganga, 40 Corporation is making a wide-be no miles south of Njombe,

spread search for other They

found minerals.. have already that the ore contains small quantity of the "wonder metal" titanium.

ore

IDEALLY PLACED The exploitation of these iron ore flelds, coupled with the

GOLD DEPOSITS.

One of its immediate. pro- jeats is the exploration of gold deposits in the Musof dist trict, where some mines are already in operation.

Tanganyika's growing

in the feld

development of coal deposits, portance

efforts,

economic

STANDARD BRIDGE By M. Harrison-Gray

Dealer: Sonth. Gamo all,

im

of

N. KJ059 10 3

ex-

10 7 4

would give Tanganyika an un-minerals is indicated by rivalled position for starting port figures for January-June steel and allied heavy in of this year, which stood at dustries which at the moment £1,162,408, are non-existent.

This included gold,

silver,

The iron ore deposits are clamonds, tin, lead, tungsten Ideally placed near extensive and beryllium-the last-named coalfields in the Ruhuhu Valley used in making the H-bomb. at Ngaka, on the eastern shore

of Lake Nyasa.

Engineers' of the Colonial Development Corporation which holds the coalfields, are at

actively present engaged

in

assessing the extent and quality of the coal.

Investigations have shown that though the coal has a fair standard as far as quality goes, it lacks coking qualities.

There is every chance how- ever, say engineers, that large tonnages suitable for the tablishment

steel

up.

€4

of an iron and industry may be opened

SEARCH FOR OIL

This coal will also have the of being available

asset

local railway use,

for

deposits

Other extensive have located near Lake Nyasa at Tukuyu and at Ketewaka- Mechuchuma.

Proven fields have been dis- covered on the west side of Lake Lyasa also.

Side iby side with the search for coal, Colonial De- velopment Corporation en- gineers have instructions to seek for oll.

If no oil is found, however, the Corporation intends to 145- tablish an oil-from-coal -pro-

ject.

At

present Tanganyika's 350,000 square miles of rich mineral deposits have been virtually untouched, mainly because of the extremely poor communications an lack of railways.

BAD ROADS

Mr. Wabb's "* botter sauvages aro coming out a funny shapo.

8742

B

GOOD

A 10.8 AJ95 AJ 8. K93

tion

32

100

South opens Oné No-Trump, and as it is unlikely that Four Spades will be on easter contract, North should raiso direct to Three No-. Trumps. West avoids the dangerous vulnerable over- call of Two Clubs, as he has some hopes of defeating an adverse game.

47 is led, and South has a temporary respite when dummy's AJ wins. It la-nów a, case of keeping the danger hand out of the lead. The Spade finesse is, therefore, taken towards West, who wins with Q. If he now clears his Clubs, South, after winning with AK, has only to take the two-way Heart finesse towards East. This loses to Q; South', thus makes the minimum number. of tricks, but is sure of his. contract.

London Express_Service.

BACKGROUNDS: Douglas MacArthur

Terrible destruction of Hiro-

CAN ACHIEVE MUCH While emphasising that the serious turn of events in Korea made all planning difficult and

uncertain at this time, they ex- press the opinion, that Congress would probably be more desirous than ever to provide some sort of aid programme for South-East Asia in an effort to block Communist penetration there.

The belief in official quarters In Washington is that the Commonwealth and the United States, by making real efforts to raise the Asian standard of living, can achieve much in the way of discouraging an in- digenous trend toward Com- munism.

LONDON TIN MARKET

London, Nov. 30. The fin market. was stendy in the 'official morning session today. Turnover was 125 tons, including 15 tons for spot. Prices closed today at the end of the official morning session. as follows:- spot an, buyers Spot tin, sellers Business done at Three-months tin, buyers 1,030 Three-months un, sellers 1.035 Business done at Settlement

1,150 1.155 1,150-1,145

1,035-1,030 1,150 United Prese.

no decision Anglo-Egyptian

of the

Discussions

London, Nov. 30.

There has been yet on what agency United States Government would administer the American aid plan for South-East Asia. It might be the present Econo- mic Co-operation Administra- The Treasury announced, to- tion or it could be a new over- night that no all agency to handle all Ameri-munique would be issued on can economic programmes such the Anglo-Egyptian sterling ba- as suggested recently by Dr lance talks until their conclu- Gordon Gray, special assistant sion

The talks began in London to the President, in the report yesterday between the Chan-

to Mr Truman.United Press.

PAKISTAN PLANS

Karachi, Nov. 30. Pakistan today announced, 2,600,000,000 rupees, six-year development programme under the Colombo plans, Its entire expenditure will be obtained from external sources.

further

com-:

cellar of the Exchequer, Mr Hugh Gaitskell, and the Egyp-

Minister, tian Foreign

Mo- hamed Salch El Din Bey-Reu- ter.

New York Metals

New York, Nov. 30.

market: The basic idea of the plan. is.

Prices in the metal that Pakistan will continue to

here losed today. unchanged be essentially an agricultural

with the following exceptions:- country, but the agricultural Tn, Grade A (09.60 per system must operate under the cent of higher) New

York, par) th most profitable

per and the national economy must Scrap feel, F.O.B.

ton, No, heavy, sinel-

3434-8613- tind); be more diversifled than at the

-United Press. present time.-United Press.

No. 22

This time, instead of having

no

circumstances

144

By MELVIN K. WHITELEATHER & NORMAN MYERS

There MacArthur,

raced After, two atomic explosions Roads, bad in the dry season, become morasses when the shima and Nagasaki in August to wade in, General MacArthur General Wainwright who had had shaken Japan to its roots, tropical rains set in during 1045 by atomic bombs brought arrived in a transport plane been left on Corregidor, Mac 30, high-ranking emissaries flow the summer.,

a swift end to the war, Mac with casualties whatever. Arthur had invited him to the--to the Philippines to sue for Plans are now being drawn Arthur had not been told about Fate put in an appearance at surrender ceremony. Just liber peace,, in Manila, they faced a to expand the railway the atomic bomb the most the New Grand Hotel in Yoko ated from a Jap prison, "Skinny" cold and stern MacArthur, the system, which would assume startling development of the war hama where the General stayed Wainwright was skinnier than man they had sworn to take to prime importance should. the and its best kept secret, until his luggage bore stickers from ever, but supremely happy to Tokyo in chains. What terma offer? Unconditional big steel industry be establish- | shortly before the Hiroshima that hotel, remnants of a 1937 be able to see the downfall of did he

surrender! his tormentors. trip to Japan.

up

ed.

bomb was dropped.

·{entando ed