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Atlanta Daily World
Atlanta, Fulton County, Georgia
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Africans in Rhodesia and Nyasaland Federation invest $5.6M in savings bank (55% accounts); $124M annual spending power in Southern Rhodesia despite low avg wage $19.60; US checks uranium in Nyasaland; share plan for copper mines announced in June.
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By SAMUEL P. PERRY, JR.
UNITED NATIONS, N. Y. (AP) - Africans in the Federation of Rhodesia and Nyasaland have a total of $5.6 million invested in the Federal Post Office Savings Bank and 55 percent of the total number of accounts belongs to Africans.
Another fact of the growing economic power of Africans in Central Africa, in spite of economic and political barriers, was stated by the Prime Minister of Southern Rhodesia several weeks ago. Africans in Southern Rhodesia now have a spending power of $124 million annually, according to Prime Minister Todd.
However, it must be borne in mind that the average monthly wage for Africans in Southern Rhodesia, where the influence of the South African Boers is especially acute, is only $19.60 per month, on the basis of 560,000 employed Africans.
Even in view of the barriers placed in the way of Africans there are some of them in the spheres of engineering, transport, furniture making, textiles whose monthly salaries run from $55 to $140 per month.
MINERAL DEPOSITS
It is a known fact that two officials of the U. S. Atomic Energy Commission were recently in Nyasaland checking radioactive deposits in the regions of Lake Nyasa, Timbani Mountains, and Monkey Bay.
Traces of uranium, niobium, zirconium concentrates have been found. Other minerals found in the immediate vicinity of areas currently controlled by Africans were columbite, beryl, davidite, allanite and monazite.
In the latter connection, agents of the British Atomic Authority are encouraging African prospectors to seek mineral deposits in the area.
Only this past June the Rhodesian Selection Trust announced a plan whereby 3,500 European and initially 500 Africans could each set aside 10 percent of their basic salary or wages, with a ceiling of $34 per month, for the purchase of shares in Rhodesian Selection Trust or its sister company, Roan Antelope, key copper mines in Northern Rhodesia. The companies plan to contribute one half the amount for the purchase of A' and B shares.
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Foreign News Details
Primary Location
Federation Of Rhodesia And Nyasaland
Key Persons
Outcome
africans have $5.6 million invested in federal post office savings bank with 55 percent of accounts; $124 million annual spending power in southern rhodesia; average monthly wage $19.60; some salaries $55 to $140; traces of uranium, niobium, zirconium, columbite, beryl, davidite, allanite, monazite found; share purchase plan for 3,500 europeans and 500 africans with company contribution
Event Details
Africans in the Federation of Rhodesia and Nyasaland have $5.6 million in the Federal Post Office Savings Bank, holding 55 percent of accounts. Prime Minister Todd stated Africans in Southern Rhodesia have $124 million annual spending power, with average monthly wage of $19.60 for 560,000 employed, though some in engineering, transport, furniture, textiles earn $55-$140. U.S. Atomic Energy Commission officials checked radioactive deposits in Nyasaland near Lake Nyasa, Timbani Mountains, Monkey Bay, finding traces of uranium, niobium, zirconium, and other minerals; British Atomic Authority encourages African prospectors. Rhodesian Selection Trust announced plan in June for 3,500 Europeans and 500 Africans to set aside 10 percent of salary (up to $34/month) for shares in Rhodesian Selection Trust or Roan Antelope, with companies contributing half.