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: | REACTION EXAGGERATED : «. JO THE OSHAWA TIMES, Fridey, August 21, 19359 ~~ Ld -- on RRR SPE # " i = T YS T K n : : 150 Nek : i 8 ] - Net Dh: Ret Stock Sales High Low ~ Hn Chige : | . TORONTO Stock Sates. High Low 11 am. Ch'ge NS0ck, Sales High Low am. Chge rh Ah law yom. Cheb Hl | { » White'Pass 100 $8% 0% 8% -- N Man 1000 45 45 45 Walk GW 250 $38 38 38 I S § WwW : } bd TORONTO 11 A.M. STOCKS . NM 4000 193 186 188 +2 : $ . ur \ ag By The Canadian Press Anglo Nfld 2500 $74 7 iW g 19, +1% CANADIAN ¥ id Toronto Stock Exchange--Aug. 21 AE Soo $3144 31% 70 ' : : i 4 (Gubtations in eints uniess marked 3. Can Ving 30 $374 37 -- oranda 51% Abitea 400 40 40 40 _1 By DON PEACOCK | This appeared to indicate that Odd Job Hd dividend, Xr-E C Cottons 300 $2245 22 +14 Norsine o Avlo Nd 2 ST mi mon Canadian Press Staff Writer [the Pank of Canada, which ex- : rights. xw--Es-warr ) G 1 4 + 1% N Gate 60 +5 Cons Paper 285 $39% 39% 39% A 3 Ca 2 i N Goldert 51 +34 Ford 258174 174 174 _2 OTTAWA (CP) -- The govern-|<*¢15¢S control over the money § be i i % N Rank 500 102. 1 Mex L P 290 $15 15 15 : SY supply, was unmoved from its Int Util | xX INDUSTRIALS Northsp 300 110 nity 30 $424 42 42 +2 ment is aiming at a reduction in Oe ch ; North Cap 400 150 Que Phone 510 $321 3216 32% -- % Bank of Canada's' interest|Curren policy by last week's . - N Coldet 125 112 St Maurice 500 140 140 140 +15 the Bank nada's °S' statement of the Canadian Bank- = Stock Sales High Low Close N Coldst rts 875 13 Shop Save 365 $22 21% 21% rate by limiting its calls for .... Association. - Abitibi 83% Nn Alminex Opemiska. 1205 835 T Fin A 50 $38% 38% 38% short-term loans and by drawing ] lta Dist 150 305 305 , 305 The bankers said they wo 7 . Alta Dis 50 305 305 305 Bailey § A Orchan 5000 65 Trans Mt 15 812% 12% 12% + % on its big bank balance, The in-\;.ve to curtail their loans, give - Alta Dist vt Basco Paramaq 1000 7-1 U Prin Prop 500 200 280 290 fal Thursday {have to curta ef s, 8 ; - Alta Gas Britalta Pater 2200 2 terest rate fel ursday from ine as the reason a combination 84 : Alfoms. & Ohlettn i REE TZ MINES last week's all-time high. (of a central bank rate higher than. = Alumini Cdn Dev higTey of 6% o The bank announced that thelthe statutory six-per-cent max- a Pu ex 1000 a 000 7% 7 +1 W i Alun 2 pr C Ex Gas Radiore 3000 72 Astle i EB TE AE OR rate it charges for the infrequent imum on th» rate the chartered Argus 240 pr Can WO Realm 300 a Bateman 3200 45 45 45 loans it makes to chartered and yanks can charge their borrow- Atlas Steel Cent Del Sera 500 0 --6 Bouuyville © S00 47 81. OW 4 savings banks eased to 6,29 per ors and the relatively 'stationary - Bank Mout £ Jlienbes Stanigh wis "20 2% Cartier Gue 200 37 3% 3% 3 cent from 6.41. It was the first) wsition of Carada's money sup- = Bath Pow A Dome' Pete Steep R i Pad Chiboug Cop 6000 18 18 18 --I |decline in seven weeks. ply. . ' i Beav L pr Dynamic aya 00 7 2a, Fuudy RT Included in its announcement "Economists and financial ex- ; . Bell Phne Fargo Tiara 3500 63% +1 Are HT Wm was a brief statement by Finance perts explain the present money x 8 wat 5% pr Gr Plains Tombill 6300 100 +2 Hollinger 135 $32% 3216 32% +1% | Minister Fleming saying that the|and credit situation--the high in- 1 4 U Mbests_ Se pe Keir Add. 300 320% 201 2 --% government's decision to reduce terest rates indicate money is © 3 0 Willroy 1300 161 RR FT Ra VE next week's offering of treasury|cyrrently tight -- as being a re- : or Mayfair Wr Harg 100 2 1 N A Rare M 220 176 175 175 : bills--to which the Bank of Can- quit of government and Bank of - Midcon Sle Lead | Toe 2 3 4 Okalta eB» B32. ) ada rate is geared--reflects its| Canada policy intended to stretch || pe N Davigs Sales fo 11 a.m.: § Qpemis Exp foe 08 on 0 a') J FMAMI J AS ON D view that "the recent rise in in-|ou the current boom in the Cana- | \ Pac Pete Paudash 250 45 45 45 . IN : "iia terest rates on treasury bills has dian economy 1 i oy 6 3 ue Cobalt 100 135 135 135 4 gone farther and faster than con- i Can Cem Pliice Q ; oh 4 T i - bg Big ' PR it 2 MONTREAL 11:30 A.M. STOCKS bd meh 16 $20 1a rif E % UNEMPLOYMENT DROPS ditions warrant." LONDON (CP)--The Spectator, 3 - y 387 5 95 2 ) CAL 11:3 JM. § 8 Stee 5 --- . y : 3 og Gan Brew Hig 100 Ho +1 By The Canadian Press Tb Tox! 1000 12% 1212 12% --1% The statement added: a weekly magazine, suggests the H C Br Alum 1000 bh 204 +H Montreal Stock Exehange--Agug, 31 Titan 2000. 66: 98. %6- 1 The bureau of statistics re- | at that date, an increase of At this weck's tender, for the time has come for the Canadian | = Cdn Celan 8 5600 75 $ (Quotations in cents unless marked_§, Vanguard 500 A 2 fi ports that 228,000 Canadians | 153,000 from the. . previous came reasons, a number of bids government to "drop its crazy " C Cel $175 pr Tidal 200 104 2---0dd lot, xd Ex-dividend, xr--Ex Wendell 25000 . ) ry were not accepted as involving c} oi ith moneta: cures" C Chem Co Triad Oil 700 440 0 ights, xw -- Ex-warrants.) Westburne 500 B80 80 80 were out of work and seeking | month. Seasonal expansion in Tig ! 4 chsession with 0 ry . C Dredge Un Oils 200 mn : a agri 3h jobs at July 18. This is a drop | agriculture was given as a l00-high interest rates. {and to rely more on direct con- | C Hydro Car Wayne 1700 Uy 1 Sales fo 11:30 a.m.: Industrials 34,400; J 5 Mk Hebe the THCTEate | to restore the country's ex- \_ | . Cdn Oil shurne 1350 80 1 INDUSTRIALS mines and oils 97.400. | ig S51.000 a month earlier, main reason for the increase. HOPE TO CUT RATE | cihnee Fes \ § . « W Cdn OG 700 150 11:4 a rsa m-- The bureau reported a record | --CP Newsmap | Later in an interview, Mr, chang . . - calta 200 165 adiang i 30 | a 4 fC. " elv it i N it - F 2 Ya 1000 8 1 dirs L 6,206,000 Canadians holding jobs Fleming told a reporter the gov- Whew hn Sigh encom nx . . a8 3 Abitib meer -- ie voshapt : . a r ~ " 3 Alzoma ernment is reducing its treasury "st weeiak the bank rate ge - s 32% -- 3 4 - Kil: issue eh in the hope capital by 'raising the 3 : om Elect 170 Sli 114 ; E Alumin Free ance bill issue next week in the hope capital by" y 3 - Dom Eleet 120 L ; MINES Alum 2 pr bd iB of bringing the interest rate on to this absurd level of 6.4 per § Dosco 5 4 Advocate 300 270 270 270 Affus ay Il u or LS the bills down further. : |cent,"" says Nicholas Davenpit, : » Dom Stores Algom 45 $134 3 pining . "The effect of it (the treasury the magazine's financi itor, = Dom Tar Am Larder 1000 5 Banque Cn I Wah Poggi ag. in a 1,000-word discussion of Can = Dom Jar e 2 Banque Cn bill rate) has been greatly exag- in a 1,000-word discussion Dom Tar pr Ansil - 4 . fd 2 ¥ Dom Text fumatio Bank Mon} 2 gerated," he said. "we've got a|ada's monetary policy. i Fam Pray Baska Banque PC . n ur Le ut very sound economy in Canada." Pavenpart $ave Je Deesent i us Bibis DE re" He indicated his belief that un-|Policy encourages foreign cap : A Boy B: h or ap an 1 a e Pig attention has lately been| to flow into the country and Cana- : ralorne Wa h if tdi i v ps Gh paper Bre wick BA Of OTTAWA (CP) Agriculture keys were up 27 per cent from {ocused on the treasury bill zate, dian eapieat oy WH : - Weg G Buffad 33500 Bo 'S, N - WE Ne Cy id there has been nothing| country. - o Ww Buff R L 1000 Bi ES pr ST: JOHN'S, Nfld. (CP) Ed Minister H ar kness announced 1957. Be Said there has) the ng ------ ee = Hardee pr Bunker Em 30 BC Power Finn Jr. is making his debut as | Thursday that the government's. Turkey poults hatched to the Bill rate in. the prices of other| The two main islands of New = Bar Bank Camp Chib 1050 Can Cem leader of the labor - supported turkey price support will be cutiend of June this year are up | government bonds. They had re. Zealand have combined area of - Imp Oil Can Erin 50 : DN ok Newfoundland Democratic Party [by five cents to 20 cents a pound per cent for broiler weights and| ou oa eC noe cape. {102,000 square miles. Ind Accep Cariboo C Brew in the Aug. 20 provincial election. {effective next Jan. 1. 17 per cent for mature weights fn yy ey, mie Cent Pat 3050 : 2 I Ac wis ; X s Col * : a Anant fic : in ; he sa jod last year. There were indications from Jus Coen Win 300 ; em 600 The 33-year-old freelance writer | The 25-cent floor will remain injover t e same period last year, other financial sources: that 'the - Inter FL bone eds 500 C Cottons 100 was named to head the new party | effect until then, he said, but he As a result, marketings to date|, in view in Ottawa is that the 11 Y i - Br sve A C Callinan 2000 12 C Hydro Car 1 shortly after its formation. He warned that if turkey production this year total 25,789,533 pounds, current interest-rate situation is| Se mg our : Jock wits C Denison 100 $i $ Int Po . : = heads a slate of 19 candidates, {continues to outstrip the domes- nearly double those in the com- only a temporary ome, which| Ho e 5 " Belly wis Cas Mo CPR 266 $274 2 mostly big-name labor leaders. [tic market demand, "further Se: parable 1958 period Turkey mar-| 1 oni 'move downward as quickly me ? ; = saad | . A " inion 3% . ition wi /e a .""" |ketings for the whole of 1959" will i oi 4 Lakeland CG Arrow 500 C I am not a politician," Mr. tion would have to be taken etings j as it rose. 4 - Laura Sec E Jaliwell 0 : Finn said in a statement shortly | The government has not had to|reach record levels, the agricul-| | LIST ty a Tacs By Conwest 200 Dis ! after he was named party leader, |enter the turkey-buying business|ture department said. {SUPPLY DECLINES { ca = Loeb M Crowpat 2000 D Bridge rib "but when I see the mess pro- since the 25-cent support was first| In this situation, the Canadian| Meantime, the Bank of Can-| " : 'Ara 2000 D Store: i 5 i * g - Macmill B [Aragon 2008 ) Ta 235 $178 5% 178 f-ssional politicians have made of ammounced in July, 1957. |Turkey Federation proposed to ada's latest weekly money mar- VX Mass-F Dome 500 D Tar 4 ; , : : | 'er ; | isti howed that Au 3 : Man F pr Elder 24000 2 Newfoundland affairs I think my | Market prices in the first quar- the government recently that the | ket statistics show: at on Aug. 150 salesmen. of your service, a Mass.F 5% Expl All 4000 I~ck of experience will be more lter of 1959 remained fairly|turkey price support be cut to (12 the Money supply wiles 5s Contact your local realtor : pi Molson A Faloon x f an asset than a liability." ipa! om g . {cents a pound immediately. 20,000,000, a decline of L000, 5 - 0 Fipbisher 360 be i di stable at 27 to 29 cents a pound $ : | hy a \ = Noe B Genex 500 n Dynam FORMER EDITOR liveweight and although they] However, Mr. Harkness' an- 000 Eu bi 198 up| " Nor Star A Giant YK 100 C 1 paper aie i re CHiTyD i ; below nouncement said the existing 25-| $380,000, . thy v $ - NO NGas Gold Eagle 6500 H Smith In March, the journalist quit since have dipped slightly below! 4 I" Sung : Siren meron fi - | ji - Grandue 200 Hud Bay ied i 4 [the support level the turkey pro- cent support will be continued un Nor. Phone , Imp Oil his job as managing editor of the |the suppc i d ; isiv » NW Util pr ; Greyhk 1000 mp Oil . |cossors so far have not offered til the end of this year because - Orange Cr 300 $9% 9% 9% Gulch 2000 nd Cpr Corner Brook Western Star along {OO a rg "much of the current production| HA Page Hers 265 $31 30% 31 + Hard Rock 1000 Nickel with three other editorial staf- {any birds to the government lar- ih o En oat | - 50 $32% 32% 32% Hollinger Util hy { may have been based" on this] ~~ Pan I Par i Polling rerov Pl fers. He claimed the newspaper der. yn hee loin | wel DI 9% Sd X yie ly "ow " oy : Py . . Pow Corp 100. 60% 60% 60% + % Hud Bay Gls pr had adopted a "blatant" pro- | Thursday's announcement said v Q N Gas 100 $i7% 17% 17% -- Int Nickel Alea company and anti-union editorial lit is obvious there will be a dom- = Roe AVC i I irish Cop Jabau stand in a strike of International estic turkey surplus if farm pro-| SOVIETS INVENT plod oe AV 5% 5 § y c Y stic y ; ou Royal Bank 1447 384% 83 84% + Jacobus 5 Macmill B Woodworkers of America (CLC) duction continues to clumb at its aw Russell 100 $11 1 11 Jaye = oh Rb ro + Mass Kel ' loggers against the Anglo - New- present rate BE. Ei i 37: Eth 2 72, mankeins o wr. LIGHTNING BALLS -~ a 300 140 140 140 Kerr Add 100 $20% 203 : Mass F 5% p foundiang evelopment Company Last year's marketings of tur- - Salada § xd 660 SIZ 12% 124 + % Labrador = = 130 $263 26% 263 Morgen pr Th Saran B i" ---- "| WASHINGTON (AP) -- A - Shawin sm Ron --% Lorado wis Soo 296 -- i Phasing The dispute and controversial > - Shawin A pr 25 S40% 40% 40% -- % Macassa 1 ; legislation arising from it lod 10 Detroit scientist said Thursday » Simpsons =n $31 36% 5 % u tid =n 20 ii of th ND party. The 00 tores Soviet Russia is studying the - Steel Can 50 S + Mads e 2X y. : - Steinbg A 25 SW% Bh Wh Magnet 4500 12 rincipal plank in its platf i | possible use of man-made balls . a 1 p pal pl s platform is | ! -s § Propane 200 $16 16 16 + % Malartie 500 11 Fo Tenislati or | of lightning as weapons. -- S Prop wis 180 525 525 525 +20 Maralgo 2500 28 repea legislation passed dur- sspe tam S Donbld Ritchie of Bendix - Switson 150 410 410 410 Maritime 2000 1» ing the strike including a bill de- 5 : Aviation Corporation's research ra Texaco C 50 364 64 64 + % artin 0 43% certifyir 0 Newf: ; f i { ; Tor-Dom Bk 440 $60% 60 = 60% +1 Mcintyre 225 $88% cal vine ee oundland lo- TORONTO (CP) ~-- Loblaw laboratories said the proposal 1 = Jor Star po 233 pen iy oh -% MeMar 30 io L 4 R ' Hh th Groceterias Ltd., announced has come from physicist 5 $27% 7 Me 30 ry BY 2. "le BE, Be Trans Mt 605 $121 12% 12% + % Milliken 420 12 Ww ne St is Tako i le Thursday a "lucky green stamp"| George Babat, head of the So- d os Un Gas 20 $18 18 18 Min-Ore 1200 10 esiern Star Mr. Xinn otien at. promotion for its Ontario stores.| viet Institute of Energetics - Un Steel 100 $9% 9% 9% --% Nes Lab 500 22% tacked Premier Smallwood and : 'ori | Riri tet ¥ as } = Un Telef 200 200 200 200 New Cal 2000 31 his policies, in editorials and in President George Metcalfe told| Ritchie, writing in Missiles | - Walk GW 245 837% 37% ITH -- % New Hosco 100 0. : ; his column. & press reception that the stamp| and Rockets magazine, said | W Cop wis 450 155 140 155 ~ +15 NEelgre = 200° 18% 18 18% +% Tor Dom Bi : plan, offering a $5 merchandise| Babat proposes to generate - gift for each book of 1,500 stamps, | balls of lightning in the sky $50 $5000 Falconbridge added 1 at 29 to ™ J was started because of the "'phe-| high above cities. BUSINESS SPOTLIGHT Industrials while International Nickel and nomenal success" of Loblaw He would do this by focusing without endorsers or bankable s curity Noranda gained %. Hollinger ad- stamps in the United States. two huge parabolic antennas to ded % at 31% and McIntyre was| A stamp is issued free for each| create an intense électro-mag- LJ + | up % at 88% in golds. 10-cent purchase. They are to be| netic field. | F X1 o nnuity purt ea la Home B. Pacific Pete and |pasted into books of 1,500 and can| The. field woud Jevelup fe H udson's Bay were up fractions be applied like cash against any| ball of lightning fed from the ! 0 [but Calgary and Edmonton lost of 500 gifts listed in a catalogue.| ground by electro - magnetic 17 SIMCOE ST. NORTH--RA 5-6541 | F 1 % at 23; and Canadian Husky| Shortly after the Loblaw an-| energy. . OPEN FRIDAY TILL 8 P.M. LOI »alllS gave up %-at Il. [rouncement the Power Stores "The ball could be easily CLOSED SATURDAY. DURING JULY AND AUGUST | Index gains: Industrials 8.61 to food company announced it would] moved through the sky by di- a h Offi + hour :Ontarie | TORONTO (CP) -- Industrials 530.13;" golds .23 to 87.58; base enter the stamp field. Power now| recting the ground antennas, ces 9 |spurted ahead Thursday, break- metals .80 to 172.55; western oils has a gift plan which involves| Ritchie said. |ing a five-day losing streak, as|.80 to 115.09. saving cash register tapes. the stock market recorded one of Sh VANCOUVER (CP)--Dr. Scott| Although the interest rate on municipalities with money for|its best gains this month in slow| " Gordon, professor of economics{such an annuity would be lower | capital projects and in the Jong, trading. | ~ at Carleton University in Ottawa, |than the rates prevailing for| Industrials, after losing almost | has suggested a government an- other securities, it should be de- SEH ARI Ei faad4 AR AAAS run prove profitable to the gov- - h nde #9 ation | 25 points in the last five sessions, oe nuity adjustable to changes in the|termined by natural supply and ee Se ear ot Jnation advanced 8.61 to 530.13. | 'an cost of living as a means of pro- demand forces in the market. {ton which did occur." | The final volume was 2,005,000) -, i ; | | : : she J i - SZ fecting pensioners and pole On| yey py GOVERNMENT | He sad now Is not th time to| Safes, compared with Wednes- - Such an annuity would protect| An indexed annuity of this type implement such a plan. Barks." stools nd - the real value of an investor's|could only be offered by the gov-| "There is too much talk about Banks, steels and papers pro-| - i Re hit. iv one} % Se Pinkd 3 ; vided the industrial strength as| - capital, he said in an interview ernment. Private agencies could inflation. . Implementing such d r id i ' § 2 : 0 Priv nivts Shao - io all five of the most active issues | = The investor's annual allow- (not offer such an annuity on a plan now might be inflationary go. ® O00 Mee Are im BP] = ance would rise and fall with Sound actuarial basis. because it would aopear to be aly, hic wi | = iW invest cl - Ed " had the big win among the most -» fluctuations in the cost of living.| The government could invest sign of weakness, of giving in to active, up 1% at 27%. Massey = Dr. Gordon, a lecturer at the| "nds from the annuity program inflationary pressures. If should Ferguson was the most active is = University of British Columbia in municipal bonds, providing wait until the talk dies down." sue, up % at 13% on a turnover A 3 - summer school, said the annuity of 20,950 shares. | - would offer the investor the se- - | _The system would transmit the, Algoma Steel was ahead 2 at! = curity of bonds without the loss 1Icrowave {15-minute warning of approach-|37.3 Canadian Tire dipped 5 at| . -3 in real value in inflationary per- {ing enemy mi ssiles fo air defence 185 while Canada Malting and] 5 jods and without the risk inher- {headquarters in Colorado Loblaw Inc. were down 3. United z= ent in stocks. S stem | Mr. White said the contract Steel lost 1% at 10 as the com- Tu a was "99.5 per cent complete" but|pany, blaming tight money, de-| : HAVE ANNUITY Now 3 Y {could not give further details un- {erred its scheduled third quar-| - A government annuity with a . til the deal was closed, probably ter 20-cent dividend. i ig limited annual allowance is of- within a week. ! : fered in Canada. It was estab-| or ala a Rie i lished to provide the low wage| BORDER FATROLLED STOCK MARKET earner with a means of saving.| TORONTO (CP)--General man-| ] The annuity envisaged by Dr. ager J. R. White of Canadian Na. | GEORGETOWN, British Gui- NET EARNINGS Gordon is much broader. It would tional Telegraphs said Thursday/ata (AP)--Police patrolled the RLU : S be designed primarily as an in- Th ications netw, borde razil to e-. By THE CANADIAN PRESS . : £3 vestment opportunity for CO | Tt mon hited a a id i pre Favdlan Reef Mines Ltd. ol If you've got the dream, Oshawa Wood Pro- ® HOME CONSTRUCTION DI- sion plan funds and ed S an cattle entering # ~ An unsurpassable FREE i WB - pany Delon pan uo Sand a dollar deal with the United States pritish Guiana because of a re.|mos. ended June 30: 1959, $91, HOME PLANNING d ducts have the materials to build it. Come, VISION. Complete home re- . De rs pressures over SH defence department for a micro-iported outbreak of foot - and- 796: 1958 $57,965. an hey" vis id f delli dditio and. Fes ; S Oe {wave system running up the mouth disease ESTIMATING SERVICE see how they've anticipated all your ideas o modelling, additions, : they have no control. |Alaska Highway. em ---- | . h I h Id be like. E hi pairs including. oll sub-trades. - The total ZStoiunt of Simwity oue| Se deal, expected fo be worth} what a rea ; iw wou. , e like. Li ng : = person could buy woul im-| abou ,000,000, would be the . : . i, : Ai Ei ed fo a "renionabler amount, biggest vet between Canadian i o Avaloble of abl vimes, os been lncluded. nSthig oVErIOShOA- 5: ut your cowveniene cs: = yearly. fence. | QUALITY MATERIALS AT Y gp TWO MODERN SHOW- 3 "The idea Is to prevent people, The 600 - channel microwave REASONABLE PRICES pleasure through the years ahead. Yes, we can MS TO SERVE YOU > from suffering want, not to keep |system is designed especially for . the finoncin for ou 100. ROO A them in the style to which they |the Balistic Missile Early Warn- | arrange g y hd - may have become accustomed," | ing System base under construe- | FEVER G RI p S Fo he said. » tion in Alaska. | ; : 1959 OIL FIRED FURNACES! OSHAWA OSHAWA W 00D RODUC S : Deluxe 100,000 BTU. Pre-wired Fur. 5 L | M | T E D - nace, complete oil burner, controls, blow- See 4 f . H -- = : . . * -- pion er ond motor, filters, oil filter, tank 230-00 The Globe and Mail ® Downtown Showroom: 84 Simcoe St. S. RA 8-1617 @ Main Office and Showroom: Courtice RA 8-1611 . gauge, draft regulator. Regular $460.00. Business Pages : : °] TELEPHONES TO SERVE YOU E HARRY O: PERRY TH S : S ATU RD AY Bowmanville -- MA 3-2130 : Ajox -- ZEnith 2-9600 - 285 BLOOR W. HEATING RA 3-3443 t ¢ DOWNTOWN OFFICE OPEN FRIDAY TILL 9:00 P.M. © ?