Indianapolis Times, Indianapolis, Marion County, 30 November 1951 — Page 24

> ow = —_— er i — AT TDIAN POLIS TMS. razil Today— . yi Black Market in Dollars— : : ; : | U.S. Dollars Wanted Asiatics Don’t Trust Red China's. Currency Frosh Pouliry 1 Cheaper Then Vea To U ncover Hidden NE Ven Black ior Plas said Japan, the Phil goods In the wollaf aren In turd! My BICk S314 hat Since Seni FRYERS

y : . : & FRIDAY, Hs FRIDAY, NOV. 30, 1951 Ty RI,

ippines and Formosa also have determine the existence of black SREW I Ye of : oD An > exis ack tember there has been an unusual market in U. 8. dollars, gold and large currency black markets. . market rates. - °° lactivity in the Far Eastern dia- We'll Dress Them While You Wail

® e " jamonds is f ishing 1 y . , i Latin An’ 0 SHamond ! flour hing us the $10 BiJlion a Year Far Over Official Rate jmonds market by Chinese Com- : i ri n : ea Far East and €ommunist Chinese He could not estimate the over-| ar. pick said Co i op ToTst agents: oung d ing an : Mr. Pick said Communist Chi-| He said purchases of gold and

officials are among its best cus- all volume of Far Eastern black : By JOHN A. THALE ome a New York currency market operations, but he said a Rese hres PArchasiop o 5 diamonds are considered a ‘good . Chickens specialist said today substantial share of the world’s po. JA NS dajDedge against the constantly de- R | ng BH 33 of the annual 10-billion-dollar = black Feoples dollars to one U. 8. dol-|clining value of the Peoples’ Chi- 0d I ¢

RIO DE JANEIRO, Brazil, Nov. 30 (CDN)—Brazil is "pin, pic blic 3 franz Pick, publisher narket business is cha . lar, while the official rate is! eq ar.” ‘hick 2 He channeled to AT WICH Je Cone U. S. dob] rs dollar — Boiling pi a 25¢

hoping to lure American dollars south of the border to Pick's World’ Currency Rey

help unlock the treasure chest of its undeveloped back pnd ‘ar wathority on currency Asia, estimated that dollar, 7 “TH duced thal a Ha o cnn e——— me . Ww anc Eo te induct ris 2} «= black market operatic aid. gold and diamond black marke a ’ e estimate 14 upwara| undreds of homes are advercountry and expand it: industrial might. . Peking government officlils as operations = involve 54 Thariel of S1 million in United States tised. EXCLUSIVELY in the real The dollars are eoming—I173|—— mm ee well as the remaining wealthy With depreciated currencies. dqllars and gold are sold weekly estate pages of The Times. Read . million of them last year tolorficials say that this country's persons im Red China are buving Around 100,000 persdis, Mr. behind the “pamboo curtain” in them over ... you'll find a more Open Sunday Till Noon bring the total of United States laws are more favorable to Ammer. up A and diamonds as ol aid, are involved in black tong Kong alone. suitable home for your family... . . ital invest- ican capital investment than aSL 23 hey can market operations throughout He said that a busy black mar- ‘ —— on a 2 BaD on in those in the United States today. Wi aid thi : Hae extensive black U 8 world, He said the profit- ket in gold was flourishing in RELIEVE SORE THROAT? Harry Smith Poultry Co. % Brazil to an eés- Save on Taxe Atal n Fic s ation a tera rod OY business was made Shanghai. Where a ounce, AN . timated $400 mY yes result fears RS a Maes, pas jb 2 by the gap between ar- fetches up to 44 U. 8. dollars. : million Pris tb wil pet an eR ey A A ar 337 W. New York St. LI. '5952 But far more American investor in the 90 Der pency and Ne nuns eur- e ii and black market quo- ounce. The difference is ac- PLENTY OF PARKING SPACE than that js cent income tax bracket at home bility @f the Pac me Sie bi a {counted for, he said, by transpor- § needed . Braazil- would draw about a 25 per e2nt Government f China, Satral Wie a ey Wi Dare curtency nd lation costs and smuggling fees, fans Say, espe- levy here, one official cited as an thie he concentration of needed. to ( ommunist customs officials. 4 dbustaminfy - wesmeed i example. Businessmen here gen- ® —— hi nr —— COIR

cially. to help erally confirm that uncover what ¥ . . may be fortunes! The head of a big Rio store, a | in oil, iron, branch of an American company. manganese, said his firm's net annual profits

Mr. Thale lead, timber and generally amounted to eight to

other vital materials lying hid- 10 per cent./An American aIficial : ge vial materi ing bE Soc wloc ii | BRINGS YOU TREMENDOUS SAVINGS and EASIEST OF TERMS! big country’s interior. States said his organization would hy a e— : While Brazil is eying private Te = 10 2 2 per cent = : ] investment rather than loans Some AG on ons. ; from Uncle Sam, there are In- renies 0 rican usinessmen dications also that a deal for complain it does them no good to

Only the Very Finest

pile up profits here, since they

A hi ik £300 million something like 2 . 300 % 1. cannot readily convert their Braloan from the International Bank | i . 3 : 1 Zin cruzeiros nto aol s for for reconstruction -and develop- | ) I : : . tranaifer 3 to the States ment may be in the offing. ; ne Be . ment ma: g Ee ? Ste of Diamonds Survey Completed investors ! pl leir ar nes hae < th i 1 1 earnings ba ) that are included in this

Eugene R. Black, president of the World Bank, has just completed a survey of agricultural and industrial possibilities hera. His visit followed a trip to the United States by Brazilian Finance Minister Horacio Lafer, supposedly to cook up the deal. American money already is invested here in such enterprises as auto assembly factories, tire plants, radio companies, plastics, paint, foodstuffs, rubber, mining and timber.

selection. E x p ertly chosen for perfection of color and clarity . . . each one represents the utmost in beauty value . ..

has the tremen possibilities of Brazil. One taking a realistic view, said “What would I do with dollars back in the States now, anyway’ I'd just pay them out in taxes.” Officially, after complying with certain regulaiions, American business firms operating in Brazil are allowed to send back annually in dollars an amount equal to 8 per cent of their registered capital.

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But in the all-important field of the hunt for oil, Brazil—which FRO BSA ee imports most of its petroleum I ats-Tias shied away from SWEETEN A dealing foreigners in on the game. Private American companies have g not been invited in to do oil ex- & ploratory jobs on a 50-50 profit. § basis like they operate under in 3 other Latin American countries, § STOMACH such as Venezuela. 3 The Brazilian constitution says RX oil is the property of the nation § » and only native-born Brazilians can exploit it. There have been indications re- ¥§ 2 cently that the Brazilian govern- k ment is setting up an oil develop- & MILK OF MAGNESIA % ment program, and that outside | 38 % private capital may be invited in. TS % Whether the terms of the invita-| 3 h, tion will be sufficiently attractive to interest big American, British’ and other oil firms remain to be ¥

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