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THE OSHAWA, DAILY TIMES, MONDAY, DECEMBER 30, 1940 Refunding Debentures Saves City - Nation's Business Seen At Highest Point In 20 Years Annual Review by Canadian Press Shows 'Many Industries Post- ed Ali-Time Records By ALEX PRINGLE Canadian Press Financial Writer Bigger payrolls, sprouting from the national war effort, raised a crop of new business peaks in 1940. Many industrial barometers posted all-time records and the genera] | level of business is currently at the | highest point in more than 20 years | and from 20 to 25 per cent. ahead | of the volume a year ago. | Higher taxation as part of the government's war policy gave a sligitly lop-sided aspect to the pros- | perity that usually goes with big business. Company directors, feel> ing the pinch of new levies on in- | coms, voted dividends sparingly and | the distribution of $222,586,562 by | Canadian corporations in 11 months of 1740 was only 45 per cent. | greater than they paid in the cor-| responding 11 months of 1939, Returns on bonds continue low | and peoole on fixed incomes, con- | fronted with rising living costs, are | obviously still budgeting carefully. But with the wage earners step- | ping out, their ranks augmented by | 267,000 additional workers since. last | April, and pouring a steadily ris- | ing flood of new currency into ins channels of trade, business has | been swept definitely into an ad- | vancing trend. The Dominicn Bure | eau of Statistics places empioyment | in November at 139.2, based on the | 1926 average of 100, a gain of 24 per cent. over a year ago. Heavy Shopping The recent Christmas shopping season was the best, according to compilations already available, that the merchandizing (raternity have experienced in a decade. Depart- ment store sales, up to the end of November, showed a 12 per cent. gain over the previous year and retail sales generally, réveal a gain of about 10 per cent. Current com= mercial bank loans, ocne»of the most reliable indicatcrs of industrial trends, increased sharply in 1940, One bank reported an increase of $38,000,000 in this item in the last year. Manufacturing Gain Stimulated in the first instance by war equipment orders, manufac- turing has mounted steadily jn vol- ume and now stands at a psak pre- viously unknown in Cangas. The Canadian Press survey s. The Federal Bureau of Sta#istics puts the gain at 40 per cent. over 1939. General production shows a gain (Centinued on Page 11, Col. 6) PLUNGES THROUGH ICE TO SAVE BOY FROM DROWNING Trenton, Der. ~Jumping into an ice-coated river' fully clothed and saving the life of Percy Simp- son, 11, of College street, Saturday afternzon was novhing at all, ac- cording to Leading Aircraftman John Lillie of the Royal Canadian Air Force, Trenton. "It was nothing more than any average person would have dene," maintained Lillie. - The airman was walking across the bridge over the Tren' River late Saturday afternoon when he notic- ed tl:e boy playing on the ice and saw him plunge into the water, Without hesitation, /the airman ran to the bank of er and crawlzd out onto the 0 the hole where the boy had d ¥ . Just as he reached the hole the boy's arm 'apps hole, and lunged $08 grasp.cd caused the ice to gi too, went into thgh water. 3 Mzintaining he rezched the the ice until sg rope and pullg chee: went uj tators who h and clung to 'one threw him a oth ashore. A loud m the many spec- ithered. hed to an office ial respiration was rd York for a short jd was revived. | was sitting up in suffering a little fd exposure, but he Today the his bed at ho from shock is high in his who saved his hope I can be He sure is a "mother of Percy children, is herself boys like hilt who will win the war for us. He | certainly must be a very couragediis young man. Aircraftman Lillie comes from Wallaceburg. has been in the R.C.AF. more than a year and was transferred to THgnton last Monday. Cedar Lodge Master Installed L. M. SOUCH who was installed as Wor. Master | of Cedar Lodge, AF. & AM, for 1941 at a special meeting of the lodge last Friday evening. LODGE OFFICERS REINSTALLED L. M. Souch Heads. Cedar Lodge AF. &A.M. For Coming Year Officers, elect and appointed, of Cedar Lodge AF. & AM, No. 270 |jeally the cities and towns Wf their} were installed on Friday evening at a special meeting of the lodge a! Temple Building, the being carried cut by Wor. Bro.-Alex Bell who was assisted by past mast- ers of Cedar Lodge and the two brother lodges, Temple 'and Leba- non. ho The officers installed included the following who will hold their posts for 1941: IPM --Wor. Bro. N, H. Ashley.' Wor. Master---L. M. Sough. Sr. Warden--W, E. Baker, © © Jr. Warden--Thos, Dalgleish. Chaplain--Alex Bell" * Treas.--E. F. Barrow. Sec'y--N. J. McDougall, Dir. of Cer--B. 8. Edmondson, Sr. Deacon--A. G. Talbot. Jr. Deacon--H. G. Palmer. Sr. St.--T. T. Hele. Jr. St--Reg. Burr. Organist--Reg. Géen. 1.G--H. S. Palmer. Tyler--H. Sheily. Presentations were made to Vers Wor. Bre. R. Meek and Wor. Bro Alex Bell for their work in connec- tign with the lodge. Welcomed to the banquet were Wor. Bro's Majo. H. Wallace and Major Percy Jobb, both now in His Majesty's forces. Numbers on the program included Christmas carcls by the boy chorist- ers of St. George's Church under the direction of Bro. Matt. Gouldburn. Wor. Bro. L. M. Souch, the newly installed master of the lodge, acted as loastmaster. PRIZEMONEY PAID IN PART BY EXHIBITION . Grant Aids in Seitlement Before Winding Up For Duration Lid) Peterboro, Dec. 30 -- Failing for 'the first time in its history to meet its obligations in full, the Peterboro exhibition beard, now wound up for the duration of the war, will pay prize-winning exhibitors only 75 per cent of the prize-money due to them from the 1940 exhibition. Prize- winners in the junior farmers' sec- tion, however, will reecive the full amount of their premiums. Directors of the exhibition found themselves in an invidious position last August. Only a few days be= fore the opening of the exhibition, the grounds were taken over by th2 Department of National Defense for use as a military training centre. and it was only as a result of spe- cial last-minute arrangements that it was possible to hold the show this year. Afterwarde, faced with the neces- sity of liquidating their affairs for the duration of the war at least, the directors were forced to choose be- tween two alternatives. One of these was to pay off the board's in- debtedness to the bank, leaving the prize money unpaid, and the other to distribute the prize-money as usual, but leave the directors per- sonally responsible for the bank debt. The board chose the former course, and recently approached the city council with a request for a grant towards the prize-money. Council voted a sum of $2,000 for this purpose. ; CAPTURE YOUNG CAR THIEE AFTER RUNNING CHASE Police Constable Spots Stolen Car, Arrests Bowmanville Youth After a running chase from the corner of Ritson Road and King street east to Harmony a 14-year- old juvenile from Bowmanville was arrested by P. C. Geo. McCammond of the Oshawa police at 530 p.m. Friday and has been charged with the theft of two automobiles. One 2 1935 model Plymouth; was stolen from Bowmanville on December 26, | and was found early Friday morn- | ing parked in front of The Times { building on Simcoe St. S. P.C. Mc- | Cammond while at the corner of | Ritson road and King street Fri- aay evening noticed a 1938 Dodge sedan pass the intersection which | filled the description of a car re- ported stolen from William Rahme, Athol street west, Oshawa, and the chase ensued. ASK APPLICATIONS FOR AIRMEN AND MECHANICS Recruiting Officer Coming Here January 6 and 7 | Under a new system nf recruit- i | ing inaugurated by the RCAF. | | recruiting officers wiil visit period- district, J. W. Muckell, Flying Of- ficer, informed The Times, and the | investiture | first "Visit to Oshawa under this | Past new system of recruiting will be | made on January 6 and 7 with al recruiting officer and staff on| { duty. | | Arrangements have been made to {use the board room in the Public | Utilities building for the two days. | The object of the visit will be (1) To obtain a greatly increased num- | ber of applications both for air | crew .and skilled tradesmen; (2) | To make it unnecessary for appli-| cénts to travel long distances in | offering their services to | the | RCAF, | In the communication to The | Times Flying Officer Muckeli | points out that at the present time there is an urgent need for sero- engine mechanics, airframe mech. anics, instrument makers, radio mechanics as well as other trades men. DRIVERS WARNED TRAFFIC LAWS T0 BEENFORCED All Branchés of Provin- cial Police on 24-Hour Duty Over Holiday A final warning to motorists planrang to use their cars over New Year's, was issued last night by Hon. G. D. Conant, Attorney-Gen- eral, and Chief Constable George &. Guthrie of Toronto. "All traffic' laws must be strictly enforced and violators will be ag- gressively' prasecuted," sald Mr, Conant. "The courts will be urged to impose substantial penalties." The Provincial Traffic Advisory Committee has undertaken an ex- tensive campaign to warn motorists by radio and in theatre announce- ments. Car owners are urged to ieave their automobiles at heme and either hire a driver, a taxi or use the street cars. "All branches of the Provincial Police will be on twenty-four-hour duty and everything possible will be done to prevent a recurrence of the alarming accident toll over the Christmas holiday," said Mr. Co- nant. : Chief Constable Guthrie said he heped no one would be deprived of his liberty over the holiday, but he said constables had been instructed 10 do their duty in protecting citi- zens against drunk, careless and reckless drivers. "This is the home stretch in the drive to prevent any further deaths, and to get off to a good start for 1941," said the Chief Constable. It should not be necessary to call the attenticn of motorists and pedes- trians to the dangers on our streets and highways. Our increased death rate' in 1240 is too serious to pass over, and we, as police officers, in- tend to be strict in enforcing the law." DOESN'T FORGET Brussels--(AP.) --Dowager Queen Elizabeth of Belgium, with her country in the hands of the Ger- mans, has contributed the equiva- ient of $7,000 to the Belgian winter relief fund. King George Visits Bat:ered Southampton | Wearing naval uniform, King George is shcvea with British Home Secretary Hebert Morrison, LEFT, and the mayor of Southampton a; ited, and a director he toured the much-battered seaport city. Southampton may be placed in the area known as #Hell's Corner," Tax Prépayment Plan to Be Put in Operation Scheme Two Years Ago to Save Interest Charges Inaugurated The tax prepayment plan which enabled . the city to save consider- able money in bank interest in the twoears will be in operation again in 1941. City Treasurer Peter A. Blackburn announces. Letters.to the lasger taxpayers and those who have participated in the plan in past years have been mailed and it 1s expected that there will again, be a satisfactory response early in the new year. Last year more than $200,000 worth of prepayment certificates were purchased, saving the city in excess of $1500 in interest charges, | while at the same time taxpayers were given an interest return their money which gave them nearly as much by way of in creased interest earnings over what they would have received by allow- ing their money to remain in the bank. For the first half of January a: until the day shall come when there tax prepayment certificate which |!s a clear intention on the part of will be worth $1,000 by April 15 can | the aggressor nations to abandon all be purchased fof $994. Similarly a| thought of dominating or conquer- $100 certificate can be bought for!ing the world. $99.40. In the last half of Jan- uary the' eps rises to $995 with similar advances during February. COST OF LIVIN STILLGOING UP Fuel, Food and Home Furnishings Prices Rising EGGS, GROCERIES UP Ottawa, Dec. 28--Rising prices of fuel, food and home furnishings lifted the cest of living index main- tained by the Dominion Bureau of Statistics to 107.8 in November, compared with 107.0 in October, the bureau reported today. The November index is almost four per cent higher than the level a year ago and approximately seven per cet higher than in September, 1939, first month of the war, the ra- port said. With prices of dairy preducts, eggs, groceries and fruits increas- ing, the index for 46 food Items rose to 108.7 in November, agains: 106.1 in October. Meat and vege- table prices dropped slightly. The fuel and lighting index in- creased from 108.0 to 108.5 as a re- sult of a moderate rise in coal an' coke prices. Index of home furn- ishings was 110.0, ccmpared with 109.7. on|-- 0 .+ Europe to dominate the rest of the (1904 also { Highlights From Roosevelt Talk Washington, Dec. 30. -- Striking sentences from President Roose- address last night: I believe that the Axis powers are 10t going to win this war. I base that belief on the latest and best information, The nub of the whole purpose of your President is to keep you now, and your children later, and your grandchildren much later, out of a last-ditch war for the preservation of American independence, vell's The Nazi masters of Germany have made it clear that they intend . to enslave the whole of Europe and then to use the rescurces of world. The United States. has no right or reason to encourage talk of peace The experience of the past two years has proven beyond doubt that no nation can appease the Nazis. No man can tame a tiger into a kitten hy stroking it. There is far less chance of the | United States getting inte war {if we do all we can now to support the nations defending themselves against attack by the Axis than if w2 acquiesce in their defeat, sub- mi¢ tamely to an Axis victory, and walt our turn to be the object of attack in another war later on. »- All our present efforts are not enough. We must have more ships, more guns, more planes--more of everything. There will be no "bottlenecks" in our determination to aid Great Britein, No dictator, no combina- tion of dictators, will weaken that determination by threats of how they will construe that determina- tion. Crop Improvement Ass'n. To Meet At Sunderland The annual meeting of the On- tario County Crop Improvement As- sociation will be held in Sunderland cn the afternocen of January 8th. The feature of the program will be the presentation of reports of ex« periments carried out by the Asso- ciation with farm crops. These re- sulfs will be of considerable value. to farmers in the county. Mr. Chas. Paimer of the Domin- icn Sced Branch has been secured 1s a special speaker for the occa- MASSEY-HARRIS PRESIDENT DIES, SICK SHORT TINE Active in Many Can- adian Industries -- Headed Russell Auto Co. (CP). --Thomas president and Massey-Harris prominent in industries Dec. 30 Russell, of the Limited, Canadian Toronto, Alexander director Company, many other tion's war production, is dead. Ill less than a week, Mr. Russell died at his home here yesteraay at the age of 63, He was stricken with pneumonia last Monday and a suffered at times during the ast six years complicated' the illness. In addition to his association with the Massey-Harris | Mr. Russell was president of Rus- | sell Industries, Limited; Canada Cycle and Motor Company, Cana- | {dian Acme Screw and Gear, Ltd, {and Galt Machine Screw, He was vice-president of | Monarch Knitting Company, the Lim- the Cana- ldian Bauk of Commerce, the | Canadian National Exhibition, Mu- {tual Life Assurance Company of Canada, Canada. Cement Company, | Toronto General Trusts Corpora- | tion, Canadian International Paper Company, Canadian Airways, Ark- | wright Mutual Fire Insurance | Company and Underwood, Elliott, | Fisher, Limited. Mr Russell also was a governor |of the University of Toronto, | governor of St. Andrew's College, a trustee of the Toronto General | Hospital, a trustee of the Banting of and closely gssociated with the na-| heart condition from which he hud | company, | Limited. | a | $83,752.8 LOWER INTEREST RATES ON HYDRO, GAS BONDS Kingston Business Building Fire Scene Kingston, Dec. 30.--Fire of unde- termined origin, but believed to have started in a second-storey bzauty salon, operated by H. C Clements, on Wellingtcn street, near Frincess street, in dewntown King- ston last night caused considerable damage theres end in the ground flocr optometrist's shop, owned by [ J. S. Asselstine. The fire was first made considerable headway through partitions. A large hole wa: | burned through the floor. Firemen | to smash a glass decor to enter building and had to use smoke | | the | th nac the ma fi Ne estimate of the damage was | available last night. | INTENSIVE PATROL OF HIGHWAYS OVER HOLIDAY ORDERED | Constable Every Mile in | Heavily Travelled Areas, Says Conant | Toronto, Dec. 30--A New Year's noticed ahout 6 o'clezk when it hac | ks in finding the centre of the | REDUCES LIABILITY HEP.C. Accepts' Amount $54,815 Less Than Agreed Price for Gas Plant Debentures Carry Lowest Interest Rate Ever Sold in the Muni- cipality Due to negotiations instituted this year by the city council and carried cnt by acting chairman of finance | committee Ald. W. H. Gifford and | others conversant with the finan- cial situation surrounding the hydre ° 2nd gas plants, the city has made saving of $83,752.83 which will be | spread over the next 15 years, the | length of time the debentures are to run, . The saving has been made [by hydro and gas debentures amounting to $273,307.16 at 4% % interest being liquidated through | the payment of $218,491.54 at rates | of interest on new debentures vary- | ing from 3% to 4% during the next. | 15 years. The saving on interest {alone will amount to $28,937.27 | through refunding and in addition | to- this interest saving there is the | immediate reduction in the city's | debenture liability by the terms reached with the Provincial Hydro | of $54,815.56. | While no immediate savings will accrue to the tax payer in respect | to the lowered rate of interest and | a | a Institute and a past president of | Warning to careless motorists: OVer | tha forgiveness of the $54,815.56 on the Royal Canadian Institute, He was born at Exeter, Ont, the [son of Thomas and Mary Fowlie Russell. "He was educated in the Exeter public schon], the college institute at St. Mary's and the University of Toronto. After gradu- | ating with a bachelor in arts ds- gree he was awarded a fellowship | |in political science and lectured at |the university for a year, | Mr, Russell went with the Caaa- dian Manufacturers' after leaving the university and | founded the magazine, Industrial Canada, In 1903 he became gen- eral manager of the Canada Cycle and Motor Company and the next |year the company built the first | Russell motor car in Canada. ' In the Russell Motor Car Company was founded with Mr. | Russell as president. The company {continued to manufacture cars un- til 1916 when it merged with the Willys-Overland, Limited. Russell cars were made until 1933. During the First Great War the Russell Motor Car firm maintaine three plants manufacturing shells, | fuses and airplane engincs. The | company's Buffalo. plant produced anti-aircraft gun mounts and the company also supplied armored trucks. Mr. Russell became president of the Massey-Harris Company in 1930. Surviving are his widow, Mrs, Olive Lillian Brown Russell, two sons, Thomas B, and John A and one daughter, Mrs, W, A Burkart, Jr. ' U.S. STANDS BY ORDER TO FORD -- Washington, Dec. 30--The United States War Department, overrul- ing a protest by Sidney Hillman, announced that a $1,387,500 order for 1,500 midget scout cars, which had been placed with the Ford Motor Company, would be "allowed to stand". Hillman, labor member of the Defense Production Board and vice- president of the Congress for In- dustrial Organizations, had chal- lenged the contract on the ground that it lacked certain labor safe- guards, . "After careful consideration of the protest," said a statement by Under-secretary Robert P. Patter- son, "the War Department an- nounced that the award would be allowed to stand." Morton, Wash.--(CP.)--The Mor- ton high school basketball team sports a player with the name -- "Big" Little. He stands six feet, sion, Association [Le holiday there will be ofie Pro- /i le on duty for ay in the heavi- ly travelled districts of the Prov- | ince. | t I. It every mile of hi of nolice in the history of On- , Attorney - Geners Gordon t said Saturday night, after meeting of the Provincial » Highway Traffic Commit- Cc 1 a spec | Adv will use every available of- * for highway patrol duty over New Year h ," said Mr. "This inc our tary constabulary, our regulars, our s Is and cur reserves. And every inized unit of the force--mo- and motor cars--will be Mr. C would be f t t said every precaution en to prevent a recur- rence of he Christmas holiday death toll, when eight lost their 1ive8 due to motor accidents. The Attorney-General: said he would maintain strictest secrecy as | to when the snecial patrols would | start and end their duties. ANTIPODES' INTERNEES Melbourne--(CP.)--Australia has five camps for the internment of enemy aliens from Britain, con- structed at a cost of $1,680,000. will be the largest concentra- | volun- | + questionable value, | the debenture payments, this howe | ever will be felt when the payments and interest are all wiped off the | books in 1955. Dates Back to 1916 The story surrounding the supply of gas and electricity to Oshawa is an extensive one. The existing position dates back to the year | 1916 when the Government then in | power purchased the Eastern One | tario Power System. The agrees | ment which was executed on March 10, 1916, embraced the purchase of some 22 companies among which | were included the Oshawa Electrie | Light Company. The property ine | volved in this sale included among | others, several assets waich were of Under happier | circumstances the Government of that date might have purchased | only those assets which gave proe- mise, gf successful operation, but it beca necessary in order to ef- fect the purchase to lump the vare ious assets and to take over the: desirable and the less desirable: | enterprises. About the year 1928 negotiations were instituled between the City and the Hydro Electric Power Come mission of Ontarie for the purchase by the City of Oshawa of the (Continued on Page 11, Col. 5) > Tuesday Specials of 12 King East Phone 1141 A RUEHLE R BROS LIMITED Choice Quuiity ROUND ST EAK 25: FRESH PORK SHOULDERS Ib. 15¢ Choice Skinless WIENERS 1b. 19- Sliced Breakfast BACON 1b. 27- We Wish You A HAPPY A PROSPEROUS NEW ¥EAR four inches in his stocking feet. 310); 18 AB BROS. LIMITED NAPOLEON AND UNCLE ELBRY SEE vou BLOCK A LEFT." THATS TH' STUFF .Z NOW LETS