Rejection by the Federal Cabinet of the Imperial scheme for alr car-loge of mals, and the manner of the election, has raised an issue of rs. tas importance, 1 ie not-merely Irene which have been rejected, bul ropostis. from ihe British Gavern-
T'scheme which the rest of the' Em-pice has endorsed. appears now That the new air mall policy. what-ver It may be, isnot unanimous with the Cabinet, in addition, It fs hesitate Ing, makeshift, shortsighted and ap-Pufontly quite regardless of the needs munications with the British Governmen: with a view to' seeing'that the Philippines do not fall into the hands of a hostile power on the termination' of the ten-year probationary period of Independence.
The Government is also to be asked to inquire into the possibility of giving, effect to the desire of the Filipinos to be admitted to the British family of nations.
"The improvement made in public company affairs during 1995 over and above other years since the depre sion has been characterized by the Targe volume of new money absorbed Into. private enterprise, Including premia paid on new share issues. shareholders have put up more than £4,000,000 in hard cash into their companies coffers.
Where company matters are con-corned few are inclined towards the view that 1938 has not shown a remarkable advance over other years since the depression depths were touched. Indications that it has are available at every turn. Public company Profits have increased, dividends have been restored to predepression Ievels, and as a natural corollary, share prices have returned to levels Feminiseent of the peak touched in 1929,
Text read from the printed page and cleaned; old type leaves the occasional error.