The Grenada newsletter

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Material Information

Title:
The Grenada newsletter
Physical Description:
v. : ill. ; 36 cm.
Language:
English
Publisher:
A. & C. Hughes
Place of Publication:
St. George's, Grenada, West Indies
Publication Date:
Frequency:
twenty no. a year
semimonthly
completely irregular

Subjects

Subjects / Keywords:
Periodicals -- Grenada   ( lcsh )
Politics and government -- Periodicals -- Grenada   ( lcsh )
Economic conditions -- Periodicals -- Grenada   ( lcsh )
Social conditions -- Periodicals -- Grenada   ( lcsh )
Genre:
newspaper   ( marcgt )
newspaper   ( sobekcm )
Spatial Coverage:
Grenada

Notes

Dates or Sequential Designation:
Began in 1973.
General Note:
Description based on surrogate of: Vol. 11, no. 1 (Jan. 22, 1983); title from caption.

Record Information

Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 24157414
lccn - sn 91021217
Classification:
lcc - F2056.A2 G74
System ID:
AA00000053:00112


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Alister Hughes
P 0 Box 65, //
St.Georges

THE CGR;EADA NEWSLETTER
For The Week Endina 2nd April 1977
CHAMBER QUERIES NON-APPOINTMENT TO GAIDC

In a letter dated March t7th addressed to Prime Minister Gairy, the
Grenada Chamber of Commerce has asked whether it "may now nominate a

representative to serve on the Boardof Directors of the Grenada

Agricultural & Industrial Development Corporation (GAIDC)."

In this letter (which was signed by the Chamber's President, Mr Iyden

Ramdhanny), it was pointed out to Mr Gairy that, at a meeting with

the Chamber's Management Council on November 1st 1974, the Prime

Minister had agreed that the Chamber should be represented on the then
Development Corporation. The letter pointed out that the funotions

of the Development Corporation and those of the Agricultural Bank

were now entrusted to GAIDC "which came into operation on 27th
September 1976", but the Chamber had not been invited to nominate a

representative to the Board of Directors.

"It is assumed", said the letter, "that this might have been an

oversight and that there is still a vacancy on the Board vdhich could

be filled by a nominee of the Chamber."

GAIDC was created by Act 20 of 1975 which repealed the Grenada

Agricultural Bank Ordinance 1965 and The Development Corporation Act

1972. Act 20/1975 was assented to by the Governor-General on
October 24th 1975 and, sating under section 1 of the Act, Mr George

Hosten, Minister of Finance, by Statutory Rule & Order (S.R & 0)

number 24 of 1975 (dated 15.12.75), declared that Act 20 was "deemed

to have come into operation" from slt December 1975.

Under provisions of this Act, the duty of the Corporation is set out
as
(a) to assist persons in establishing, carrying on or expanding

development enterprises by participating in share capital,
granting loans and providing other forms of financial

assistance to such persons,

(b) to foster the development of money and capital markets in

Grenada and

(c) to mobilize and co-ordinate available resources to be
utilised in financing industrial & agricultural projects Jr









Alister Hughes
THE GRENADA NEWShLTTER Week Ending 2.!.77
Page 2

Grenad a.

In the Schedule to Act 20, the Minister of Finanoe is empowered to

appoint a Board of Directors '0of not less than five Roc more than

fifteen" persons, and the Board shall be made up of :-

(a) Ex-officio members

(1) The Permanent Secretary, Ministry of Finance,

Trade & Industry.

(2) The Attorney General and

(3) The Permanent Secretary, Planning Division,
Prime Minister's Office.

(b) Four representatives to be appointed after .

consultation with the Farmers Club Council, Grenada

Farmers Association and the Statutory Marketing

Bodies.

(c) Seven representatives of the Commercial,

Professional and Trade Union Sectors.

The Schedule provides that the names of the Directors be published

in the Government Gazette and, in the issue of April 23rd 1976, the

following were listed as GAIDC Directors :-

Mr B N Davis Chairman
Sir Dennis Henry
permanent Secretary (Finance)
Attorney General or his representative
Permanent Secretary, Planning, Development & Training.
Secretary/Manager, Urenada Agricultural & Industrial
Development Corporation.
Mr Norman Williams
Mr Matthew St.Paul
Mr L A Purcell
Mr Phillip Davies-Lvans
Mr A Date
Mr D Wilber
Mr B Wilcox
Mr R Stewart.

Act 20/1975 was repealed by Act 11 of 1976 which was assented

to by the Governor-General on 20th September 1976 and "deemed

to have come into operation" on 27th September 1976 by

S R & 0 number 16 of 1976 dated 21st December 1976.
(continued)










Alister Hughes
THE GRENADA NEWSLETTER Week Ending 2.4.77.
page 3

The new Act (11/1976) is basically the same as the one it repeals

(20/1975). It does, however, take care of certain transitional
matters (e.g. transfer of lands etc from the Agricultural Bank to

GAIDC) which the original Act failed to do. Also, in the Schedule

to the new Act, one additional member, the Manager of the Corporation,

is listed among the Directors.

As far as could be ascertained, no new list of Directors has been

Gazetted under provisions of Act 11/1976 and the Directors Gazetted

on 23rd April 1976 under Act 11/1975 have continued to function with

the exception of Mr R Stewart who, NEWSLETTER is advised, has been

replaced by Mr John Japal.

A reliable source advised NEWSLETTER, however, that GAIDC has bean

unable to make any loans because the Caribbean Development Bank (CDB),

GAIDC's main source of funding, does not approve provisions of Act

11/1976. certain amendments have been proposed which, if approved
by CDB, should be incorporated into the Act at the meeting of
Parliament scheduled for April 6th.

In connection with the Chamber of Commerce's request for representation

on the Board of Directors, a spokesman for the Chamber advised
NEWSLETTER today (1st) that no reply has been received to the Chamber'f

letter of 17th March.
(923 words)

"PFINY BANK" EpANDS

The Grenada Cooperative Bank (popularly known as the "penny bank") is

to establish its first branch before the end of the year.

This was disclosed by ir Gordon "teele, Manager of the Bank, in an

exclusive interview with NEWSLETTER today (31st), and Mr Steele said

the branch would be located in Grenada's second largest town,

Grenville, and in the building now occupied by a branch of The Royal

Bank of Canada.

This building was purchased by the Cooperative Bank some 15 months ag&

for the sum of EC060,000.00 and, in the mean time, The Royal Bank Is

constructing its own premises for its Grenville branch. This

con tr.t.ction is not proceeding as rapidly as was anticipated and,











Alister Hughes
THE GRENADA NEWSLETTER Week Ending 2,4.77
page 4

because of this, Iar Steele could not say when the Royal panki woulr
vacate the premises and enable the Cooperative Bank to establish
its branch. He did feel, however, that this wouldbe before
the end of 1977, and he said the branch would provide employment

for at least six persons.

The Grenada Cooperative Bank was established in 1932 and is the
only locally owned bank. It has an Authorised Share Capital

of 300 preference Shares of EC4300 each, 8,500 Ordinary Shares
of EC$100 each and 120,000 Ordinary Shares of EC$0 each, making
a total Authorised Share Capital of 32$1 million. Of this
Capital, all the Preference Shares and all of the EC$1 Ordinary
Shares have been issued together with 2,217 of the EOlOO0

Ordinary Shares.

Services offered by the Bank include ordinary and special savings
accounts, chequeing accounts, fixed deposits, loans and mortgages.
The Bank does not deal in foreign exchange.

Mr Steele said the Directors of his Bank feel that establishment

of a branch in Grenville is the first step towards eventual State-
wide on-the-spot representation. "Essentially, what we have

is a people's bank owned by Grenadiana", he said, "and our expansion
to Grenville will provide that service which we feel should be
given to the people of that area. It is my Directors' hope
and aim to expand this service throughout Grenada, Carriacou and
Petit Martinique."
(344 words)
fifkt^tifFifwfrlt#fftft#ir*ftrt*#
E CA STATEMENT PUBLISHED

According to a Statement of Assets and Liabilities published in
the Grenada Government Gazette of March 18th, at 31st December

1976 the East Caribbean Currency Authority (BCCA) had
EC$60,789,744.00 circulating in notes. At the same time,
circulation in coin was EC06,183,017.00 .

The Statement, which was drawn up to 31st December 1976, shows

that the Authority's total demand liabilities (including notes
nnd coins in circulation) totaled EC$87,100,579.00 Other









Alister Hughes
THE GREIADA NEWSLETTERS Week Ending 2.4.77.
page r

liabilities are shown as "Bankers Depoait" EC$101,429,490.00, "General

Reserve" EC$6,806,734.00, "Special Reserve" EC$3,093,120.00, and
"Other Liabilities" EC$2,582,130.00.

The assets of the Authority are divided into "External" and "Internal".

the farmer being made up from "Fixed Deposits & Money At Call"

EC$156,351,636.00, "UK Government Securities" EC$4,056,146.00,
"Other Securities" EC$8,622,410.00, "Regional Currencies"

EC$1,657,725.00 and "Bankers' Balances" EC$3,201,428.00 The total
of External assets was EC$173,889.345.00 .

Internal assets are represented by "Participating Governments

Securities Including Treasury Bills" EG024,447,612.00 and "Other

Assets" EC$2,675,096.00 .

According to a footnote on this ECCA Statement, External Assets held
under Article 17 (2) of the ECC Agreement as a percentage of Demand

Liabilities is 83.19
(173 words)

STRIKE AT TELEPHONE COMPANY

On :Ionday 28th March, workers at the Grenada Telephone Company staged

a three-hour strike to protest certain hirings and dismissals by the

Company.

It is reported that the problem dates back some two months when there

was a vacancy on the staff of telephone operators and, in accordance
with terms of the Industrial Agreement between the Company and the

Grenada Technical & Allied Workers Union (TAWU), the names of two

persons were submitted by the Union to the Company for selection.

Neither of these names were selected and the Union accepted the

Company's decision that there was a third person highly suitable for

the post. This third person was employed from February 1st but

was dismissed at the end of the month, allegedly without any reason

being given.

As the bargaining body for all employees of the Company, TAWU
requested to be told the reason for this dismissal, but a spokesman
for the Union told NEWSLETTER this has not been given.
/nA4-4n^^^l









Allster Hughes
THE GRSEADA NEWSLETTER Week Ending 2.4.77
Page 6

On ibonday of this week (28th), the Company took on a new employee
to fill the vacancy on the staff of telephone operators and,
against the background of the Company's failure to give the
Union any reason for .dismissal of the previous holder of the post,
the entire staff withdrew its labour in protest.

It is understood that Union officials held discussions with
Management of the Company and, on the Company's agreement to
withdraw the new employee, the staff returned to work.

Neither Mr Ivor O'Brien, Manager of the Telephone Company nor
,r Curtis Stewart, President of TAWU, have been available for
comment.
(263 words)

GSA: "POOR ORGANISATION ON DOCKS"

In a document submitted by the Grenada Shipping Agents (GSA) to
the Seamen & Waterfront Workers Union (SWWU) in current negotiations
for a cost-of-living allowance demand by the Union, GSA has
charged that there is "extremely poor orgenisation on the docks
as far as the interests of the Grenada Shipping Agents are concerned"

Figures submitted by GSA show the following tonnages moved
through the port of St.Georges over the past six years :-

xear Inward Outward Total
1971 47,489 19,465 66,954
1972 35,805 15,739 51,544
1973 37,187 14,639 51,826
1974 18,457 11,604 30,061
1975 25,554 17,452 43,006
1976 30,279 20,174 50,453

Other figures produced by GSA indicate hours worked on the docks
as follows :-
XAR Ordinary Time Overtime Total O/Time % of Total
1973 116,606 91,340 207,946 43.91
1974 67,760 52,863 120,683 43,80
1975 90,681 67,668 158,349 42.73
1976 89,248 82,293 171,541 47,97










Alister Hughes
THE GRCREADA NLW,
iLETTER Week Ending 2.4.77 Pare 7


,f cargo handled with hours worked, GSA puts forward


Ia Hour

249
249

272

294


Hours per Ton

4*012

4.814

3.682

3.400


Ier of men employed on the docks has remained constant

, 240 since 1971, says GSA, and, on this basis, the

;o moved per man was as follows :-

Tons per Man

278.975

214.767

215.941

125.254

179.191
210.220

ie work was evenly distributed, GSA submits that, on

Above, the number of hours worked per man would have


Hours Ter Man

866.44

502.85

659.79

714.75

be a clear case of underemployment, if not disguised

I the docks from the data available", says the GSA

however, this can be attributable to the Grenada

only if they were responsible for the hiring and

>s and the organisation of employment on the docks.

la Shipping Agents have these responsibilities on the

be seen as the victims of the system."

with SWWU was scheduled to discuss the GSA document

)stponed when Mr Eric Pierre, Secretary of SWWU was


Comparing tons c

the following :-

Year Tons

1973 0.

1974 0.

1975 0.

1976 (0.

The average numt

at approximately

quantity of carE


1971

1972

1975

1974

1975

1976

Assuming that ti

the basis of the

been as follows


1973

1974

1975

1976

"There seems to

unemployment, or

document. "I

Shipping Agents

firing of docked

Until the Grenal

docks, they music

A meeting of G8a

but had to be pc










Alister Hughes
THE GRENADA NENISLTTER Week Ending P.4.77
Ease 8

not yet returned to the State.

(377 words)


CRUISE LINER ALLS
During the week ending March 26th, the following orauj.l liners
called at Grenada :-
March 20th "Stella Oceania" 266 Passe' gers

"Vistafjord" 576 do.
"Atlas" 423 do.
21st "Pairsea" 904 do.
22nd "Cunard Countess" 733 do.
23rd "Amerikanis" 618 do. '

"Mermoz" 311 do. i
26th "Sun Viking" 751 do.
"Angelino Laura" (not available)'


BANANA SHIPMTLNTS
On March 29th, the 8 8 Geesttide" sailed with 17,392 boxes of
bananas weighing 512,753 lbs and valued at ECO53,839.00. There
were 990 boxes of rejected fruit.

(25 words)


il 1977




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