The Detroit tribune. (Detroit, Mich.) 1935-1966, 1947-10-04

To Share
In Control
Stettinius Among
Backers of New
Development Group

Development Group
NEW YORK. -(ANP)-LiDeria
faces new day. The African
republic, the only democracy on
the whole continent and with
Ethiopia one OF the only two
coCctricS controlled by Africans
lalone has accepted a proposal
lof top ranking American in
! duStrialsts to Join hands with
the Libcrian government and
Liberian citizens IN a wide scale
development OF the vast natural
resources of the country
The American group headed
by Edward r Stettinius, former
secretary of state. and former
head of the United States Steel
Company. is TO provide the capl
ltal and the industrial and me-
chanical know how. The LII
bcrian government and Liberian
citizens are to share in the
management and control OF the
I Liberia Company as the new
4 overall corporation IS 10 be
known. They will also participate
effectively in the Llbcran Edu-
cation Foundation which IS TO
20 along hand in hand with the
industrial development of the
country.
The JOINT statement issued at
tho Savoy Plaza Hotel here FRI.
day By Sccy. Of State Gabriel
l.. Dennis. OF Liberia and Ed
ward r Stctunus. said
AT the invitation OF the Hon
orbalc William Y. S TuDmah,
president of the Republic OF Lii
BORA and with the full knowl-
edge and consent Of the y S,
Department OF state Mr.. Stct-
tlnlus and a group Of his assoc
I ciatcs have concluded an ar
'rangcment with special LIZ
bcrian government mission COM
posed of the Honorable Gabriel
\ l. Dennis. secretary Of state;
the Honorable A. Dash Wilson,
senator from Maryland county
and the Honorable William +.
Dennis. secretary OF treasury.
The arrangement is based on
mutual desire 10 bring pros
pcrity 10 Liberia and to inn
prove the health, education, and
levels of living Of the people
by use OF American technology,
skill and capital. through the
development Of Liberian natural
resources
Leading American Included
The American directors in
cludc: Edward r StettiniuS j.
chairman Of the board; Black
we'll Smith. Princeton, n j.
Fleet Adm. William +. Halsey,
retired, Joseph c. Grew formcr
III. S. Ambassador to Japan,
James d. Mooney. president Of
WilhS-Ovcrland Motors. Inc
formerly president Of General
Motors Overseas operations: Rob
CIT j Lynch, president Culpep-
per Steel corporation: Philip ID.
Reed. chairman board of dlrcc-
tors, the General Electric come
pany: +. Stanley Klein, vice
president John p. MagulrC
company, textiles; Claude A
Barnett, director of The Asso
, ciaicd Negro Press; Frank T
Ryan. president of World Com
morce corporation: Gen. JuIius
Cecil Holmes, right hand man
of Gen. Dwight ID. Eisenhowec
; during the late war, DR.. John
e. Orchard, dean of the grad
uate school of business admin
istration, Columbia university,
will be economic conultant.
Col. George A. Green. formerly
chief engineer OF General Mo-
tors Truck and Coach manufac-
turing, is to serve as engineer
ing consultant. DR.. Henry 3
Mulholland. professor of ned
, cine at the University OF Nir.
Cinia Medical school will be
= medical consultant Five Ii
: berian directors and four further
American directors, some oi
whom are expected TO be out
standing American Negro busi-
, ness men, will be added.
Tobias In Educational Seiup
The Liberian Educational foun-
dation will be set up by Stet-
T. tinius Immediately following the
; formation of the Liberia Com
pany and a substantial proper
ton Of the stock of the Liberia
, Company will be the first en-
dowmcnt. The purposes Of the
foundation will be to advance
education Of Liberians in every
. way possible, including bringing
Liberian students to the United
States for training in medicine
and technology. and assisting IN
the creation Of the University Of
Liberia.