Britain's Common

Market Plan For South Seas

By a Staff Writer

In his address at the W. R.

arpenter Holdings annual meet

g on November 23, chairman . B. Carpenter made some in resting comments on Islands

ading conditions. For example:

lIJI’s sugar industry has settled down to more stable conditions, d stores turnover in particular had own a recovery.

It was expected that the group’s incipal merchandising company, orris Hedstrom Ltd. (which trades Fiji, Tonga and Samoa) would re al in 1963 the reasonably success [ year it had in 1962, while the irpenter copra-mill in Fiji and the cific Island territories’ operations mid cause some concern, because Common Market possibilities.

“We believe it is the intention that ji and the Pacific Island territories der the Colonial Office administra n would be offered the opportunity joining as associated territories d obtaining the benefits to accrue >m such a decision should the ter ories become finally associated,” r. Carpenter said.

“In that event the production of ; mill would find ready access into ; British and Common Market untries at rates of duty which 3uld permit of a reasonable return ing won by the mill for its opera n.”

Mr. Carpenter said nothing about j Carpenter copra-mill in New linea. The question of whether the :w Guinea mill, being in Austra n Trust territory/ would enjoy ilonial Office protection like the ii mill, still has not been answered.

The chairman reported that the >up’s shipping operations again had en disappointing, and there was no n of changes which might improve ; outlook. It was indicated that jre would be no further purchases replacement of ships.

It was indicated that, following the Dup’s unsuccessful bid to take over jamships Trading Co. in Papua, ectors would pursue a policy of di rsification in investments, and prin >ally within Australia.