The Guardian from London, Greater London, England on August 19, 1957 · 1
Get access to this page with a Free Trial

A Publisher Extra Newspaper

The Guardian from London, Greater London, England · 1

Publication:
Location:
London, Greater London, England
Issue Date:
Monday, August 19, 1957
Page:
1
Start Free Trial
Cancel

Corrugated sheets MANCHESTER Piccolo Po8"' from Stock No ink, sic net K or gelatine up to seien colours in one upcrution Any sire papei or Liird up Lo 9 x I J DUNLOP & RANKEN LEEDS No. 34,568 v Price .via.jy.u MONDAY AUGUST J 9 1957 Price 3d Mnnrd A, Jones Ltd 12 Ocimjute. Manchester 3. Rrian Green Ltd., tiktcth Street. Liverpool 1. CUT PRICES-"WE'LL CUT DEMANDS" American union's offer to car manufacturers WAY TO HALT INFLATION The United Auto Workers' Union in the United States has offered to reduce its wage demands for next year if the industry will cut its prices for 1958 models by an average ot at least $100. The president. Mr Walter Reuther, said that he was suggesting ' a positive and practical proposal for . . . stopping and reversing the inflationary trend.'' Mr Reuther, made his suggestion. Associated Pi ess reports, in a letter to the three largest American motor companies General Motors. Ford, and Chrysler. He . nntpr) that Pi'oclont TTi't-onl-,.-I had asked managements and I labour to exercise restraint in price 1 and wage policies, and declared that neither company profits nor union ' aspirations " were paramount. He 1 went on : " Transcending both, by far, are , me interests ot the American people as a whole in a stable price level. For that reason, we are confident our members will be willing to take 'the consequences in collective bargaining if the price reductions we propose should make it impossible to meet all of their joint demands and still maintain a reasonable rate of profit." He added that in other words, the union was not asking the companies to take any risk that it was not prepared to share, A. price reduction of S100 would mean a fall of about 4 per cent in the price of cheaper models of the main American cars (exclusive of delivery charges), but of less than 2 per cent for the more expensive models. Mr Reuther's proposal, however, is for an average reduction of $100, so that the general lowering might be about 3 per cent. This would come at a time when American car prices have been increasing. A pattern set Two years ago, the union, under Mr Reuther, negotiated an agreement for a guaranteed annual wage with the Ford General Motors, and Chrvsl er rnrnnra- uons. Under the agreement with the Ford company, which was reached first, the workers were guaranteed up to 65 per cent of their normal pay for 26 weeks in the event of lay-ofls This agreement aftected 140,000 workers then on hourly rates. It was the first of its kind with a major corporation, and it set a pattern which has since" been followed in other oarl; of American industry. The agreement with Ford was followed a week later by an agreement with General Motors in similar terms In each case, a trust fund was set up to cover the guaranteed wage, and there was a provision that the company's capital reserves would not be called on lo cover the guarantee. The agreements were the more important since in the motor industry there were seasonal lay-offs when the factories were retooling before production of new models. The agreement with Chrysler was reached some time after the settlement with General Motors. SLIGHT THROAT INFECTION Queen and her sister The Queen and Princess Margaret are suffering from a slight throat infection and have been advised to stay indoors at Balmoral, where they are on holiday. The Duke of Edinburgh, the Duke of -Cornwall, and Princess Anne attended morning service at Crathie Church yesterday. After a week of very bad weather it was dull but dry with spells of bright sunshine yesterday on Deeside, and thousands of people gave a warm welcome to the Duke of Edinburgh and the two children as fh-eyarrived at the church. The local doctor who attends to the royal family and the staff at Balmoral is Dr C. P. Middleton. Queen Elizabeth the Queen Mother, who is on holiday at her Caithness home, the Castle of Mey, yesterday attended the noon service in Canisbay Old Church, a few miles from the castle, in warm and sunny weather. During the first week of the Queen Mother's stay at Caithness the weather has been unfavourable and she has been able to go fishing in the river Thurso only twice, once on Saturday when she caught two fine salmon. NOW BEHIND IRON CURTAIN ? Ex-Ambassador's daughter Washington, August 18. Miss Martha Dodd. the daughter of a former United States Ambassador to Germany, who was said by !he cnair-man of the Committee of Un-American Activities yesterday to be a Soviet spy, is believed to have gone behind the Iron Curtain with her husband, Mr Alfred Stern. They recently disappeared in Mexico when thev were sought by the American authorities investigating the Soble spy ring. The committee chairman, Mr Francis Walter, said that the Sterns were named "as part of the Soviet apparatus" by Mr Boris Morros. an American undercover agent who posed as a Soviet spy. There was sworn testimony which " clearly ' established " that Miss Dodd was a spy. Professor William Dodd, who died in 1940, was Ambassador to Germanv from liJ33 to 1937. Before this he had been a professor of history at American universities. Reuter. RARE FISH IDENTIFIED A fish like a large bass, caught by two fishermen at Filey on August 6 and now in the Natural History Museum at Scarborough, has been identified by Mr A. C. Wheeler, of the fish section at the British Museum, as a member of the Sciaenidae family. It is a fish rarely caught in northern waters and only two similar catches have been recorded, one at Redcar in 1847 and- one at Flam-borough in 1873. The fish is 4ft. long and weiahs- 281b THREE MORE DIE IN ALPS Others stranded An avalanche engulfed a search party in the Mont Blanc range yesterday The president of the Polish Alpine Club. Mr Wawrzyniec Zulawski, was killed ; another Polish member of the party. Mr Stanislav Biel, was injured and carried to a cable railway on which the party is returning to Chamonix. The party, consisting ot four men from the French Army's Alpine school and four Polish climbers staying at an international camp near Chamonix. was looking for a Pole and two young Yugoslavs who had been missing in the range for eleven days Mile. Monique Keel, aged 24, t.f Paris, fell 4n0ft. to her death while climbing in the Vanoise Range in 'he French Alps. Manfred Bothig, aged 22, of Dresden, was killed in a fall on the north-west face of the Cimon Delia Pala Peak, in the Italian Alps. An attempt to rescue two German climbers, who are stranded on the south face ot the Marmolada Peak in the Dolomites was suspended last night as a blward raged. A rescue partv ot nineteen Alpinists were spending' the nignt in a mountain refnep : mron mm bivouacked in a small niche 500ft. below the climbers, after thev had rigged apparatus for a cable pulley. The Germans there mav be a third man with them have been stranded for two davs and night."., and it is thought that there is little hope of finding them alive. Renter TWO NIGHTS ON THE BARE MOUNTAIN Manchester boy's ordeal Bergen, August 18. A -Manchester Boy Scout, Frederic David Thorpe, of Middleton, who turned up safely yesterday after wandering for two nights alone in the mountains of Southern Norway, to-day rejoined his five British friends at Eidsfjord near here to continue their hiking tour. He staggered into a mountain cottage near the Hardanger Vidda plateau yesterday after becoming separated from the other boys on Thursday. David said to-day that he was in good shape all the time he was in the mountains, " but I will not go up alone again.'' He added : "I had a keeping bag with me. but to keep warm I had to put on all the clothes I carried with me In ihis way I managed to get some sleep during the nights, but it was quite ,in experience to be alone in tne mountains in the clarknoss I h'nr! some bread with me so I don't mink tnere was anv nanger. on the otner nand I had no map or compass so I didn't know where I was. But I kept on and a not afraid I thour". I would meet omeone sooner nr later " The boys expect to leave Bergen by boat for home next Sunday. Reuter. MOSS WINS IN A VAN WALL Victory at Pescara Pescara, August 18 Stirling Moss drove a British Vanwall to a record-breaking victory m the Grand Prix here to-day. He held the lead for 17 of the 18 laps and was never seriously threatened in covering the fast but tricky circuit at an average speed of 95.5 m.p.h. Moss now moves into second place in the world championship table behind Fangio. who finished second to-day in a works Maserati just over 3mm. 13sec. behind Moss, with Harry Schell. an American who lives in Fance, third, also in a works Maserati. The race was over 286 miles on a triangular, closed road circuit. Besides his eight points for victorv. Moss took one more for the fastest lap when he covered the ninth at an average of 97.8 m.ph. tuSpreci,?' PerlTission was obtained from the Italian Government for the event. A ban was placed on all motor races on ordinary roads as a result of the disaster earlier this year in the Mille Migha. Several sharp bends on the circuit were cut out. Official results : Stirling Moss, Vanwall). 2hr. 59 min 22 , sec. Average speed. 153 78 kph 3 Schell fMaserati),"3hr. 6mm. 9.5sec. ihr en ?TeZ-y- U-S A. (Maserau). Jnr. mm. 39.2sec 5. Stuart Lewis Evans. Britain (Vanwall). behind')"1'11' ' (st0PPd one IaP vJ5 nGl-orgl.1 Scarlatti. Italy (Maserati). 3hr. flmin. 37 2sec (one lap behind) 7. Jack Brabham, Britain (Cooper) 3hr Gm:n. 40--.ee (two laps behind) Only seven cars were p'aced. Reuter LONDON DOCKERS GO BACK London dockers in the Tooley Street area of Bermondsey returned to wors at midnight last night. They had struck eleven days ago, when seven men who refused to handle produce for Covent Garden market weie sent back to the- Dock labour pool. The men who resumed work were those on night shifts. The bulk of the dockers were expected to return to work for the normal call-on at 8 a.m., as were the men in the other afTet'tptl dorks. SYRIAN OFFICERS DISMISSED President in Egypt Damascus, August 18. Ten senior Syrian officers have been dismissed from the Army. To-day's official announcement of their dismissal gave no reasons, nor did it disclose the names of the officers one major-general, two brigadiers, and seven colonels Observers here view the appointment of a new Army Chief of Stall and the dismissal of the officers as strengthening the hold on the Army of its Dro-Conimuiiist leaders since the announcement last week of an alleged plot against the Government by the United States. It has been suggested that the " discovery " of the supposed piot was nictated by the soviet union as part 'of the price for. economic aid (an agreement is reported to have been approved to-day by the Cabinet), and that the exDLilsion of thrno Hnitprl States diplomatists from Syria was lo nave oeen . an excuse for . toe,. uunuuMiion ot martial law. President Kuwally, howevet, is reported to oppose close ties with the Soviet Union and to have said that he wants to resign To-day he flew to Cairo. He was met by President Nasser, with whom he spent an hour and a half, before flying on to Alexandria for three days, to continue medical treatment he has had there The Syrian Prime Minister. Sabri el Assali, who saw him off at the airport, denied a report that the Pres.dent had left his resignation at the palace. Lebanese mediation Before leaving Damascus the President signed decrees appointing Colonel Afif Bizn, ased ,43. Chief of Internal Security, as Commander in Chief of the Army. He was promoted to Major-General Brigadier-General Jamal Feisal was appointed head of the Gendarmerie with Lieutenant - Colonel Mohamed Jarrah as his assistant. Colonel Bizri succeeded General Tewfiq Nizamuddin. who resigned on Thursday. After a meeting last night between the Syrian Prime Minister and Dr Najib Sadaka, Secretary-General of the, Lebanese Foreign Ministry, an official communique said the Lebanese Government was greatly concerned by political developments in Syria and " wished to exert every possible effort in the interest of Syria " The Middle East News Agency, whirh is controlled by the Egyptian Government, reported that bolh the Lebanon and Saudi Arabia were " mediating " to smooth out tension between Syria and the United States Renter WEDDING GUEST DIES 22 taken to hospital One of 22 people taken to hospital at Wigan with food poisoning after attending a wedding reception on Saturday coliapsed at the hospital and died. He was George Stott (68), of Petticoat Lane, Higher Ince ; his wife Elizabeth is still detained at Whelley Hospital. Eight other wedding guests are still detained at the Whelley Hospital or in Wigan Infirmary. The reception was held in a Wigan cafe after the wedding, of Miss Mildred Tinsley (21), of Petticoat Lane, and Mr W. Maudsley . of Belle Green Lane, both of Higher ince. Mr and Mrs Maudsley are now on their honeymoon in the Isle of Man and are both well. A relative of the bride said yesterday : " We phoned them to make sure but we did not tell them of the illnesses or of Mr Stott's death." TRAIN DRIVEiR ON DRINK .CHARGE' The driver of a Carlisle-to-Newcastle diesel train is to appear at Carlisle Cny Magistrates' Court on Friday on a charge of being drunk while on duty as a railway servant. The tram, the 9 p.m. Carlisle-Newcastle diesel tram, had not long started on its journey on Saturday night when the communication cord was pul'.ed and the tram stopped at DurranhiLl, near Carlisle Railway police arrested the driver, John R. Metcalfe, aged 64, of Cyprus Road, Bleach Green, Winlaton Blaydon, near Newcastle, and he was later allowed bail FIGHT TO SAVE INFANT An emergency operation was performed yesterday in Alder Hey Hospital, Liverpool, on a one-day-old boy who was brought fifty miles by ambulance from Wrexham on Saturday night. The child is " very ill." His mother is Mrs Dorothy Cowan of Queen's Park, Wrexham, who has two other children. Sea -chlighlf illuminated the finale at the first performance of Edinburgh Tattoo on Saturday night EDINBURGH AT ITS GAYEST Festival opens From our Edinburgh Correspondent Edinburgh, looking gayer with decorations and flowers than it has done since the Coronation, assumed its annual role as host to visitors from many nations when the eleventh International Festival of Music and Drama opened there yesterday. As always, the event was solemnised by a service in St Giles' Cathedral, to which civic dignitaries, members of the Consular Corps, and representatives of the Church, the law, and the profes sions marched in procession from the City Chambers. The festivities began in earnest last night with the opening concert in the Usher Hall by the Halle Orchestra Simultaneously the Edinburgh Film Festival was launched with the first performance of the Boulting Brothers' comedy " Lucky Jim." Scottish Command had, however, stolen a march on both events, the tattoo at Edinburgh Castle opening on Saturday night in a downpour of rain which could not subdue the magnificence of the spectacle assembled by its producer, Brigadier Alistair Maclean The Janissaries of Turkey, the Royal Canadian Mounted Police, the Royal uaiiisii Ldiesiiaras, tne rungs Atncan Rifles, and, of course, the pipes and drums of the Scottish infantry marched and counter-marched on the esplanade i mey win cio almost every night for the next three weeks, to the delight of muustuius wno una opera a bore and concerts uninspiring Long " fringe " Restaurants and cafes normally closed on Sunday were opened for some hours yesterday to acccommodate the many thousands of visitors, and to-night they will remain open long enough for theatregoers to snatch a light supper after the shows. As if the "official" festival did not ofler sufficient entertainment, the enthusiastic "fringe" grows steadily longer, with no fewer than thirty sideshows occupying every available hall. Exhibitions, from the works of Claude Monet in the Royal Scottish Academy to a display of Scottish crafts in the Royal Mile, are sprinkled throughout the city. Opening concert, page 3 2J-HOUR FIGHT WITH STAFF Borstal disturbance Morning service in the chapel at the HuU Borstal Institution was held as usual yesterday, but extra staff were on duty as a precaution against a repetition of disturbances there on Saturday. After the service the job of clearing up the wreckage began again. Dining-room furniture and crockerv werp smashed in a fight lasting two and a half hours between the boys and the staff. It is understood that some of the ring-leaders about ten youths have been moved to a prison until the institution quietens down. The Home Office will open an inquiry into the disturbance this morning.' The institution was at, one time a prison and it is surrounded by a wall 20ft. high. To it go youths who are difficult to control from the other fourteen Borstal institutions in the country. The youths are allowed to visit cinemas and go for walks with the prison officers. The riots started when week-end privileges were withdrawn after escape attempts Prison Officer John North, aged 38, the gardening instructor and one of the four warders injured in the fighting, is still detained in Hull Royal Infirmary with head injuries. The governor, Mr L. J. Simpson, who is leaving next month to take up a new appointment at Portland, was" also injured. He was hit on the neck by a flying stone. Mr Simpson joined some of the boys at the Church of England service yesterday morning. SCOOTER HITS SHOP WINDOW An unknown man was killed when his motor-scooter crashed through a shop window at the junction of Chester Road and Edge Lane, Stretford. Police said it appeared that the man lost control ol his scooter when turning right into Ed"e Lane. The glass from the broken window penetrated his body, apparently caching his hear I R.U.C. MAN DIES IN BOOBY TRAP Callous murder Beliast Police stated yesterday that a number of men had been detained for questioning in connection with a booby trap explosion at Brackaville, Co. Tyrone, late on Saturday night. A sergeant of the Royal Ulster Constabulary was killed in the explosion, and two soldiers and three police-constables were slightly injured The explosion occurred m a disused house, about fifteen miles from the Republican border, in which a heavy charge of gelignite had been hidden. Sergeant Arthur J. Ovens, of Coalisland, Co. Tyrone, went to the house just before midnight with military and other police alter suspicious-looking people had been seen entering. The door was partly open with a light showing behind it. When the sergeant pushed the door there was an explosion which severed both his legs and killed him Bombardier Albert Rayle Moss (24), of 6outhend-on-bea. and Gunner Roy Bird (20) of Cudworth. near Barnsley who are serving with the Gist Field Regiment Royal Engineers stationed at Omagh, and Constable Mervyn Graham (24). of Forthill Road. Ennis-kilhn, and Constable Roy Porter, of Avenue Road, Lurgan. Co. Armagh, were blown through the doorway. They were only slightly hurt. Constable Graham said last night that Constable Porter, who followed Sergeant Ovens into the building, was lucky to be alive. The blast knocked all four of them out through the hall into the street. House demolished The house was demolished, and Head Constable R. Hyndman Constable J E Rea. and soldiers at the rear of the house were knocked down Constable Rea sustained injuries to the head, but resumed duty after medical attention It was the eighth outrage in the area since April, and Sergeant Ovens was the third member of the Royal Ulstei Constabulary to have been killed since terrorist activity was renewed in December. He had served in the force for 22 years, and recently received a Long Service and Good Conduct Medal He is survived by his widow and two youne daughters. A spokesman of the police described the explosion as " a cruel, callous, and deliberately premeditated murder." CONDITIONS AT CURRAGH THE Complaints of overcrowding, insanitary conditions, leaking roofs, lack of privacy, and inadequate clothing at the Curragn internment camp were made by the Publicity Committee of Sinn Fein yesterday. It alleged in a statement issued in Dublin that 114 men are housed in two huts when, in the opinion of medical authorities, 40 is the maximum which should be accommodated in the space. MR ANTHONY BEAUCHAMP Found dead in flat Mr Anthony Beauchamp, the photographer, husband of Miss Sarah Churchill, the actress daughter of Sir Winston Churchill, was found dead in the bedroom of his fiat in Hyde Park Gardens, Paddington, London, early yesterday. Police were told by a woman friend of Mr Beauchamp of a telephone call Irom him, and entered the flat after firemen had broken a first-floor window. Death is thought to have been due to an overdose of sleeping tablets. Mr Beauchamp. who was 39, married Miss Sarah Churchill in Geornia in October, 1949. Her first marriage to Mr Vic Oliver, the comedian and conductor was dissolved in 1945. Mr Beauchamp was the son of Mrs Florence Entwistle-Vivienne, the photographer, whose studio is in Park Lane. During the last war he was the official war artist attached to the 14th Army in Burma. He photographed the entire Wingate Expedition and flew to Italy to follow an Indian division in the battle for Rome and the Gothic Line. Mr Beauchamp's first job was helping his mother to colour photographs, and later he joined her as a photographer. Then he opened his own studio. In 1939 he changed his name to Beauchamp by deed poll to avoid confusion. After the war he returned to Mayfair as a society photographer. CENTENARIAN LOST A YEAR Mrs Winified Catterall prepared to celebrate her 100th birthday fo-dav at the Thomas Tavlor Home, 'near Bedlington, Northumberland. But a check of her biilh certificate showed that she reached her century last August BRITISH TROOPS LEAVE OMAN Operation will be completed to-day Manamah, August 18. RA.F. Transport Command to-day began to return to Bahrein men of The Cameronians who helped the Sultan of Muscat to suppress a rising by followers of the former Imam of Oman. The operation is expected to end to-morrow. Beverley, Hastings, and Valetta aircraft took part in the operation to-day. Some of the soldiers were going to Cyprus. The King's Shropshire Light Infantry are to return to Kenya from Bahrein to make room for The Cameronians, who are normally based here. Altogether about 350 British infantry, cavalry, and ancillary servicemen have been in Oman. All The Cameronians arrived last night at an oil company camp 12 miles outside the Sultan's capital, except for one platoon which remained with Brigadier J. A. R. Robertson to help sappers to blow up Izki fort on the Sultan's orders. Scouts remain Trucial Oman Scouts, who formed part of Brigadier Robertson's force, are remaining at Izki at present to guard lines of communications until the Sultan's forces are well established. It is understood that thev are not being kept in Oman for more than about a week after the departure of The Cameronians. Five Ferret armoured cars of the I5th19lh Hussars are not expected to be withdrawn immediately but to remain in order to patrol along Mhe oil company road to Fahud. Air Vice-Marshal Sir Lawrence Sinclair, British Commander in the Arabian Peninsula, returned to his headquarters in Aden to-day. Reuter. Cairo version Cairo, August 18. Saved Mahamed el Harty, Cairo spokesman of the ex-Imam of Oman, said here to-day that fighting was con-tinuins in Oman. " The British surrounded Fort Izki and destroyed it. The Nationalists launched a powerful counter-attack and held fast," he said. Reuter. INDIA'S CONCEiRN Message to British Government From our Correspondent New Delhi, August 18. The first official Indian reaction to the British action in Oman was given yesterday in Parliament by the Prime Minister in reply to questions. Mr Nehru sa'id : " The Government of India have viewed with concern the news of the military action which has taken place in Oman. Thev have expressed to the United Kingdom Government their concern and conveyea to them the public feelings in India in regard to this action" Attempts to draw Mr Nehru further had no effect. MR DULLES TO TRY TO RESTORE CUTS U.S. Foreign Aid Bill Washington, August 18. of State, returned to Washington to-day from a hnllripv in PnnarTa tn laqrl the Administration's tight to restore cuts in the foreign aid bill. Mr Dulles wth two senior officials, will go before the Senate Appropriations Committee to-morrow to appeal for restoration of $809 millions (289 millions) cut by me nouse irom tne 3d,d6 -millions (1,202,564,000) aid programme. officials in private, hopes to end its by the middle of the week. The Senate ;n i i u:n , : . i- ia e.jKi.Leu tu caul oil wie uui laiei ili me week British Unitejj Press. Friend in i ROM aden to Tokyo, wherever your Eastern travels take you, he will ot be far away. He is the local manager of The Chartered Bank. He is there to serve you and no- one is better qualified to do so. The Bank which he represents links East and West through a system of branches which extends to most centres of commercial importance throughout Southern and South Eastern Asia and the Far East. Those branches provide complete and up-to-date banking services sustained by wide knowledge and long experience of Eastern trade, travel and investment. In particular a highly effective credit information service and skilled assistance and advice are available to merchants and manufacturers seeking new business connexions in Asian markets. THE CHARTERED BANK ( Incmporated by Royal Charter, iS$j) V.T OFFICE: 38 BISHOPSGATE, LONDON, E.C.I Si anches tu the United Kingdom at Matichtster and Lwrrpuol ' Agencies at New Yark ani Hamburg ALLEVIATING A BURDEN Bazaar tactics pay off From Taya Zinkin Bombay, August 18. Politics and economics in India are deeply steeped in the bazaar tradition. Thus you never ask for the price which you hope to get for your wares but always leave yourself a cushion for goodwill ; and you never offer either the price you are asked or the price you are prepared to pay but allow some margin for good measure. Bazaar tactics are sound rather than sordid, for both parties eventually strike a deal and rub meir nanas at the teeiing that each has got the better of the other. When the Finance Minister, Mr Krishnamaphari, asked for a few pounds of flesh all round he knew that he would have to let a few ounces off here nd there ; the public knew it. too ; and now 'the only question- that remains is how many ounces a pound ? The parliamentary select committee on the wealth tax bill has just submitted its report, ii. which a chunk of relief has been thrown to everybody. The princes will not have to pay wealth tax on the one building which they occupy, and their jewels, if state-looms instead of ' heirlooms, wijl be exempt. The commoner too benefits : everyone assessed can have a rural residence exempt from the hideous tax, and no levy will be made on. furnishings such as paintings and carpets. Jewellery alone will be liable to the tax, and only if it exceeds the value of 1,625. Instruments for the pursuit of one's profession will be exempt up to a limit of 750. Commercial easement Companies get their crumb inasmuch as they will not have to pay wealth tax on shares which they hold in another company, and there is going to be a five-year holiday from the tax for new companies. Companies which fail to make a profit in a certain year need not pay the .wealth tax for that year. Finally, non-resident foreigners holding investments in India need only pay half the wealth tax. These concessions have been due to a real public discomfort. The tax has even been criticised publicly by a former governor of the Reserve Bank. Concessions though these are, however, they are not sufficiently fundamental fully to reassure the investor ; .while they cut the Government's anticipated proceeds by a .little more than 2 millions a vear thev loavp tho tax on companies not " in its pristine niSK-euness oui stm witn naraiy a rag to cover its shame as a tax abhorrent alike to the Socialist and the eanitalist economist." Behind the report of the Select Committee lies a series of 'trends "which are sharp turn to the Right counterbalanced uy au equmiy, snarp turn to tne Lett. Now that the second plan is in trouble there is for the first time ah appreciation that the private sector does things not badly and that what the economy needs is a larger sphere for the private sector. Foreign investment With, this realisation goes a new and somewhat more tentative feeling that more must hp dnnp tn pnrnnt!ioa nn entice, timid foreign investors t'o invest in inaia ; ana tms is Demg shown in a much more pragmatic attitude in individual cases. Lpvland Mntnre: inv inrfonnn have been allowed to increase their share in their associated company in India, Ashok Leyland, and is expanding its share-holdine frnm Afi tn 40 nop pan f India needs both the extra capital and tne extra zoreign exenange. hin'lriincf f hp Rilni cnjal mill rr- nn.'ri uvb-b. linn S'-l' is a ii their weight in platinum. I met one of ineir engineers, wno ioia me mat besides gexiing nis nome pay in its entirety he Continued on paffe 5 the East

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 18,700+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Publisher Extra Newspapers

  • Exclusive licensed content from premium publishers like the The Guardian
  • Archives through last month
  • Continually updated

Try it free