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{1H a-- 1 Ed ac SY ™ he te a m™ le o fe & o s te el TODAY'S TORONTO, TORONTO By The Canadian Press Toronto Stock Exchange----Aug. (Quota INDUSTRIALS Stock Abitibi Argus 240 pr Argus 250 pr Atlas Stee! Bank Mont Bank NS Bell ' Phone BA OI! BCE 4. BCE 5) or BCE 5% BC Forest BC Pow Brown $47 4TH $257% 25% $58% 58% 77% TT% $42 41% $37 I pr $42 pr € Bank Com 200 Cdn Brew 230 CBAL A wts 140 Cdn Chem 200 C Curt W 100 C Hydro Car 300 Lot |} Cdn OU 39 CPR D Fadry F Magnes Dom Stores Dom Tar Eddy A Emeco Ltd Fam Play Fleet Mfg Ford US Fndtn Gatineau (ion Bake G Dvnam GMC GN Gas GW Coal A Gr Wpg vt Hahn 1 pr Hard Carpet Hardee Imp Oil Tmp Tot Tmo Tob pr Ind Accep T Ac 275 pr Inland Gas find G wits mgs Royal Bank Russell StL Corp Salada § Shawin Somville pr Steel Can S$ Propane $103; * 10% $17% 17% $121 $307 $50% $31% $16% 525 $66%% $61% $14 Vanadium Walk G W West Groce Sales HighLow s.m. Ch'ge 200 175 $39% Sales High Low 11 a.m 320 $37 bd 37 amera Bi S pr Banff Basco Bata Calaita Charttr Oil € Mic Mae Can Peak Longpoint Medal Mideon a W Cdn OG W Decaita Curb Dalhousie Alge m 1 Halliwell Con Howey Con M and C Morrison C Nrthind -- Conwest 2 Cop-Man Crestaur D'Eidona Duvan East Sull Elder El Sol Falcon Fatima Frobisher Geco Mines Glacier 1000 Greyhk 2000 Gunnar 610 Gunnar wits 540 Hollinger z10 Int Nickel Irish Cop Iron Bay 225 Iso J Awite Jacobus Joburke Joliet Jonsmith Kerr Add Labrador Lyndhst Macdon Macfie Madsen Magnet Malartic Maralgo Maritime Martin Maybrun 11:80 Net Stock Midrim Moneta Multi-M Nama Cr Nat Expl New Bid New Cal N Dicken New Hosco New Jason N Kelore N Mylama N Senator Sales 500 515 U Steel 2000 1000 11000 4000 39 Weston 4 128 Ford A Tr Can Pipe 230 Walk G W C Ingersoll Cons Paper MONTREAL STOCKS 11:30 Net High low p.m. Ch'ge 362 62 $26% x 26% + % $9% 9% $37 36% 36% $913 91% 91% 2100 2160 ¥% pr 200 CANADIAN 290 +H $7 7 319% 19% $40 40 Horner A Loblaw Co A Loblaw Co B 350 Moore N Coldst rts Reitmans Leary T Fin A T Fin 4 pr UU Prin Prop 1600 Que Ascot Que Chib Que Lith emont Alscope Arno Augustus Baker Tale Bateman Anthonian Shop-Save $39% $38 275 MINES 3500 2000 00 1000 Bellechas Sand Riv Sherritt Stdcona Stanigh «wis Steep Rr Canoram Sullivan arbec Surf Inlet 5 8 8 Lares canis Bonny vill Burnt Hil Chipman Cleveland C Denison Trin Chib Un Fort Ventures Waite Am Willroy Yk Bear Young HG Sales to 11 727,000. MONTREAL MONTREAL 11:30 A.M. STOCKS By The Canadian Press Montreal Stock Exchange--Aug (Quotations In cents unless marked § r--O0dd lot, xd -- Ex-dividend, xr--Ex- rights, xw--~Ex-warrants.) INDUSTRIALS 11:30 Net High Low p.m. Ch'ge 37% 31 37 3 25 Am Que I Que Sm) Law Sales 365 Alumin 820 Alum 2 pr 75 Atlas Steel Banque CN Bank Mont Banque PC Bell Phone 3 Bowater Pap 2900 Build Prod B A Oil Mines Ex F E pr 4% E E pr 5% 200 B C Power 400 Can Iron 200 C Bank Com 100 C Cel 725 C Cotton pr 225 CPR 415 Cel Cockshutt I am Play 300 235 275 PETERBORO1 Imp 1 $140 | H5 » Tob Dou Ind Ac $2.75 pr 5 tha Int Nickel z 9 the nt Paper \ 1 12 4 sion Interprov Pl 5 331 eum, He Mass Fer Molson A Molson B Molson Pr Mtl Loco Noranda N § Light Penmans sell R rice Br Q Nat Gas Que Pow Roe AV C St L Corp Shawin Shawin 4 pr Steel Can Steinbg A Er -- year MOU have of finc things jodica that s ough dian dating Dr T 80 z10 2100 33 23 170 z10 Mm rtier Que Chib Copper Rare Xp Sales to 11 of tary Club that "This does not ture in the dis eo a 1000 3000 1000 3000 200 1000 THE OSHAWA TIMES, Tuesday, August 25, 1959 7 DROP IN BUCKET OTTAWA money supply than ever--has been edging up-to meet all wards in the last months (CP) Canada's; Despite the recent Increase | more in demand | howev er, there is not enough cash | the demands omy's thirst for funds a peak of $13,403,000,000 on Aug. tpeasury bills for three months. 5 and then dipped to $13,380,000, Booming Economy. Thirsty For Funds must maintain @ minimum cash of reserve, on the monthly a ach couple of would-be borrowers even in the of eight pel cent of their deposit But the rise has been face of steep interest rates. The liabilities. only a drop in the bucket when chartered banks, limited by lawlaveraged 8.2 per cent. But in compared with the booming econ- to charging six-per-cent interest,/the. first three weeks of this |are rationing loans. Last week the|month the banks have been cut- The money supply, according to government paid an average 6.04|ting it finer, expanding loans un- latest available figures, reached per cent to borrow $91,554,000 in til their reserves were an average | of 8.1 per cent. In fact, in the | The recent rise in the money|first 12 days of the month the! 000 in the next week. That's the|supply apparently has two average reserve was down to 79] amount of currency and bank de-|causes. The Bank of Canada has per cent. STOCK MARKET. NET EARNINGS -. By THE CANADIAN PRESS "|1958, $700,000, 20g cents. Canadians ate average of 133.3 pounds of a in 1958, three per cent below the Hat eating rate of 1957. By law, the chartered banks) In May their reserves| PHOTO CO-OP 150 solesmen at your servies, ulet 2500 M 1400 Portage Ww t Riv J 7 61 a Ya 30 a.m.: Industrials, 20,000; %,300. cavations Dicannointing GH time the (CP)-- excava Serpent park near Monday by head art and archaec divi- the Royal Ontario Mus- Tonio. the Peterborough Ro- much of the five- m work at the ment of nment o forecast Tushingham logy was glas Te told excaval ds has proved disappointing. mean that we exhausted the possibilities ling remains of Indian cul- trict. In fact from that have been found per- lly we do know for certain omewhere in the Peterbor- district there are high In- culture remains, probably back 2,000 or 3,000 years," ushingham said. BUSINESS SPOTLIGHT By ROBERT RICE Canadian Press Staff Writer MONTREAL (CP) -- Canadian Pacific Railway and its pub- licly-owned rival, Canadian Na- tional Railways, once again are| preparing for a new round of contract talks with unions repre- senting 130,000 rail workers Negotiations will start Sept Indications are after the unions will ask for a wage increase plus other contract changes #0 pro- vide severance pay, longer vaca- tions with pay and health and welfare boosts. The demands will likely be worth millions of dol- lars v The unions bargain Jointly through a negotiating team headed by Frank Hall of Mont- real. He's Canadian chief of the Brotherhood of Railway and Steamship Clerks, Freight-Han- dlers, Express and Station Em- ployees (CLC) 15 UNIONS REPRESENTED Together the 15 unions repre- sent just about every organized railway worker not actually run- ning train: The contract talks are the hig- st of their kind in Canada. They are also among the most complicated. A total of 165 sep- arate working agreements are in- volved. The contracts are due to expire Dec. 31, but the negotia. tions may continlie past that date. The 1960 negotiations are made even trickier by a government freeze on freight rates. This was announced after the federal gov ernment set up a royal commis- ------h New Invention In Tire Manufacture * MONTREAL (CP Canadian Industries Ltd. reports discovery of a new system of bonding polyester fibre to rubber The company says the new sys tem is much cheaper and more efficient than those in current use for bonding "terylene" to rubber and may effect the world manufacture of tire v+belis similar goods One 'major pany ha expressed interest in the system, CIL said wide | wd mechanfeal tire con sion to study the whole question of freight rates. The railways are caught in a squeeze between pegged freight) rates and growing competition from highway transports. They have argued in the past that their| ability to pay new wage boosts | has to be considered in any set tlement with the unions FORM OF SUBSIDY The unions disagree. They con tend that if their members are forced to accept sub standard Early Gain Fade In Traini T'ORONTO (CP)--Early gains faded on the stock market Mon day as all sections lost although trading was moderatively active. The final volume was 52,000 shares, compared with 2,748,000 Friday. Orchan featured speculatives up 13 cents at $1.03. The specula tive base metal traded 537,200 shares Among industrials, banks were the major industrial losers while, papers showed the best gains. In ternational Paper had the big win up 4 at 125 Stee. Co.- of Canada gave up 1 at 80% while Moore Corp. was off 12 at 42%. Canada Erused Stone and Canada Packers were off 1 each. Aluminium, Bank of Commerce and CPR lc International Nickel added 7% at 97% and Hudson Bay was ahead Ys at 52%. Howeve-, Nor landa and Geco each lost % {Uraniums were generally un {changed. In golds, Hollinger and Camp- bell Red Lake each. dipped Y {while Dome lost % at 173%. Home B and Pacific Pete each industrial [gave up % for the big losses in|Smelter western oils Index losses 528.25; golds 27 to metals 04 to 172.4; Industrials 2.02 to 87.66; base western oils 1.90 to 115.16, ' Reforms Mini TORONTO (CP) Reforms {Minister Wardrope said Monday {that a possible cause of disturb- ances last week in the Ontario {Reformatory at Guelph is the |fact it has too many inmates Mr. Wardrope said that in hi opinion 'no reform institution should contain more than 500 and I'd prefer not more than 250." The reformatory at Guelph has almost .900 prisoners. The minister said in an inter view that there wasn't one defin- ite complaint about conditions at out a the reformatory from prisoner noN-linvolved in three straight dars of op' workers. ' There is no real di ances last week rates they are 'in effect subsidiz {ing the railways. This is the func tion of government, sav the un ions That's one basic impasse in the forthcoming negotiations Another is how to figure proper wage rate for the Township To Share Profits TORONTO (CP)--York town- ship broke the law when it failed to share with civic bodies $4,500,- ~|000 profits from municipal land |sales, counsel for a commission | to of counsel yardstick. But the unions have The thing built up out of small vide range of manufacturing out He estimated t-at outbreaks a new yardstick--the so - called [$10,000 damage. The serious out in outside industry who had jobs Friday morning did about $200 -- ~-- placed in solitary confinement imum security prison at Mill- WATERTOWN, N.Y AP) brook earlier their arrest went free Monday. ances. Mr. Wardrope interviewed thet wo knocked ov while at- erty were dismissed Islip Terrace, N.Y. said they [toppled into ti toe street. investicating township land deals Creighton told the inquiry, which] NEW YORK AP Lead's pal Act requires that proceeds of ducer. increased its quotation one jes which normally would be en early May when the price was, auditor R. C. Bertram testified heels of a strike by the Interna-| ics down which tq" enforce . its rig shts. but both ette and Tudo facilitie called cases in which courts had sought parity with wages paid in|;itations and the heat was a big fits. Wednesday ard Thursday in the "going rate" standard. Tt was break by about 700 prisoners in !comparable with "non-op" rail damage Volun eer iremen after Friday's uprising, 23 were t Fi {brook, near Peterborough. Six Two visiting volunteer firemen Between 50 and 60 men were The mayor said the city hadisome of them personally and en- tending a firemen"s convention The. firemen, Owen Murphy were trying to find the source of Lead Price said Monday {later adjourned Aug. 31, that price firmed, Monday as St.lland sales he shared with the cent to 13 cents a pound titled to a share of land taxes raised % cent to 12 cents a pound. Ithat land-sale profits since 1931 tional Union Mine, Mill and Mr. Creighton: said the school shut off an estima ated 40 or 50 per township John J. Robin in ruled townships could keep the the. durable goods industry, aigactor The railways last year proposed reformatory tailor shop caused based on wages paid to workers- [the dining hall and exercise yard employees. Of 40 prisoners who were transferred Monday to the max- Produce Antics others had been moved to Mill- whose convention antics led to actively involved in the disturb failed to police the city fountain tered the reformatory _vard 1 Fri- Charges of defacing public prop- 22, and Alar Cuthke, 20, both of the fountain's water when it SE Commission counsel T. Kelso tays Firm & 5 Ir a section of the Ontario Munici Joseph Lead Co, largest U.S. pro-|school hoard and other civic bod The increase was the first since! 'He made the statement after The increase comes on the ad been used to kegp municipal Workers (15d) board could probably go to court cent of the US | wocessing Joseph Sweet Te |profits from such sales. | St. Joseph involved ithe strike. is not ister Still Railways Caught Abhors Use Of Strapping In Price Squeeze day to speak to several hundred prisoners locked in the open for!; a "cooling off" period. Mr. Wardrope said the men in the vard treated him. cordially. I think they felt 1 was trying to omething for them." He said he told them that if they did not co operate with re- formatory officials "my work will be of no avail and I will be| unable to do what I'd like to with | mores humane methods." The Iapded whan ie completed his 10-minute talk I'he minister hat despice rioting he is firmly con- reforms instituted by are having bene- 3 do inmate any aid the vinced that his department > ficial effect Any Ontario full authority mit as far strap is out vit does no good. It creates | hatred and bitterness and is con- duce to unrvl~ behavior. 1 don't think it is a deterrent to crime in any way.' magistrate had to order the strap| 1s I'm concerned the | Stabbing May Lead To Charge TILLSONBURG (CP)--Inspec- tor Herbert Purdy of the provin- cial police criminal investigation branch said Monday charge will be laid today in con- nection with the stabbing death of an unidentified Indian Sunday night Police brbught Indians from the Brantford and Muncey dis- triets here in an unsuccessful at- tempt to identify the victim. In- vestigators alsp called persons in British Columbia seeking the identity "THEATRE GUIDE Brock (Whithy) "Slaves of Babylon™ 7 p.m. and 10:15 pm: Salome" 8.30 1 Last com- plete Marks 12.30, 3.35 of pm 8.50 Buccanneer' 6.40, 9.55 p.m. ""Out- the City" 2.30 Last complete casts 8.50 at show Plaza 1.00, less p.m p.m "Lonely Hearts" (adult) 3.50, 6.40, 9.35 p.m. "'Care- Years" 240, 5.30, 8.25 Last complete show 8.25 Regent -- W: ne Reaut ilf Disney's "'Sleep- in nicolo 1.30, 3.25. 5.30 945 p.m 9.00 p.m and tec 7.4 show night a| WALT ---- rs ronan F TIL BRINE CHARLES BOYER B A THEN INGER STEVENS HENRY HULL -£ 6 MARSHALL CHARLTON HESTON | [8 | ERSTE AL SPOUSE | Ti R rs JOY WITH A SAMBA BEAT! Ervpr---- op ex Ley: eG - i i TOMORROW LAST AIR-CONDITIONED Jodoin said the CLC| | | | All yyished to avoid any impression|pasy while B|that ihe new party is labor dom. |DAY: 'LONELY HEARTS' (Adult) 'THE CARELESS tet DAY a 3 PLUS A BOY CRazy GIRL RACING FOR NEW THRILLS CAR CRAZYL...SPEED CRAZY!...BOY CRAZY! i 3 {STARTS TOMORROW | STARTS TOMORROW § SORTS 'BORN TO BE LOVED' BIL THE Wi and THE INNOCENT" & is posits held by Canadians. made a modest increase in its The Aug. 5 level represents an holding of government securities, increase of $185,000,000 from the) |and the chartered banks have average in May. But that rise is | streiched their lending facilities only a fraction of the jump of to the limit. $1,424,000,000 that occurred in the| The Bank of Canada, central first 10 months of last year be-| monetary authority, has power to fore the Bank of Canada 'clamped increase the money supply by the lid on. buving government securities on (The Canadian Press erroneou- the oven market. This has the ef- sly reported Aug. 14 that the fect of increasing the reserves of money supply had risen by $400,- {chartered banks, and hence their 000,000 from May to Aug. 5.) |ability to lend money to the pub- Sr -- lie. On Aug. 19, the central bank's | Automakers holdings of government securities | s'ood at $2,671,300,000--a relativ- : ely small rise of $67,800,000 from L I V 1 the average 'for May. | ow n 0 ume The chartered banks, however, | ral | DETROIT (CP)--Ward's Auto-[10Ve Increased thot 0 oc the {motive Reports said Monday that |... of May to $5,083.000.000 on | United States auto manufactur-| {Aug. 12a rise of $401,000,000. ers have dropped to their lowest er -------- i | week kly volume in 11 Honths as {more assembly plants shut down St 1 L |for model changeovers. 0 en Luggage It was noted at the same time, Ts d 0 however, that several car build- |ers had launched production of | urne ver 1960 models with others lied MONTREAL (CP)--Ivy Hunt of | ing to follow with their new ver- St. Catharines had a plane to| sions this week. |catch Monday but. her luggage Last week's car output was es- was in the hands of a Montreal timated at 33,305 units, a drop [© {from the week before when there| It had been stolen earlier from | were 72,603 new car completions. the car of her sister-in-law Mrs. Ford Motor Company will wind Edgar Oitscn of Chama Que | up 1959 model runs this week and Two men he rey Nuts, 2 ded| make changeovers. Chevrolet will jad 1 emand SrVess pA ng a build 2,300 Corvairs, the new Gen- {guilty to receiving the en st |cases. Normally stolen goods are| eral Motors compact car, this Kept by the court for two weeks |week. Studebaker - Packard will in case an: appeal iE lodged. | start their 1960 production this wp ou At to the | week and Chrysler started some being to the he gools| new model manufacture last sessions Judge Irenee Lagarde | week. on a asked the prisoners. | | "It's all right," said one. "They | {can have it." Revolution The 'men were remanded to| [Se 8 for sentence. Miss Hunt | got her baggage and rushed from Un Cla Of | [the courtroom to catch her catch her plane. | 'Mathematics CLC Apart | BRACEBRIDGE (CP)--A rev- F 0 N lolutionary approach to the teach I m ew {ing of mathematics, to start on an experimental basis in grade nine classes of 20 Ontario High Party Group schools next. month, was proved Monday by the board | WINNIPEG (CP)--Claude Jo- [the governors of the Ontario doin, president of the Canadian Teachers Federation. |Labor Congress, said Monday Delegates to the federation con-|the CLC's affiliated bodies should vention near this Muskoka Lakes affiliate with a new political town said the program is "a movement now being considered pedagogical revolution of unpre- | but the congress itself should not |cedented magnitude" and voted do so. $°0,000 for expenses in develop-| The new movement, to be built |ing it during the coming year. around the CCF, will be studied The program, full details of at a three-day seminar of 400 which were kept secret, is only picked CLC and CCF delegates tentative. and will have to be opening here Friday. Mr. Jodoin proved in practice before there commented in an interview after is anv hove it will be adopted by arrival for CLC executive ses- the department of education. sions which will precede the sem- The program will compress all inar. the mathematics now covered in| He said the seminar will dis- seven courses during five years cuss developments in the planned {of high school into four courses. formation of the new political Three new courses proposed for movement but will make no bind- grade 13 are. entirely different ing decisions. from anything now being taught.| ,He said the CLC should be in The new program, whichia position to approach and work places more emphasis on the with any government on progres- structure of the number system, |sive legislation, This might be | includes 75 ver cent of the pres-| more difficult if the congress] ent curriculum but introduces it|were affiliated with the new! in a different order |party Mathematics A, B and C ave| Wr. the new grade 13 courses students will study A, land C are to be difficult courses inated. {"for people who have made up|- | their minds they want to go into mathematics or the physical sciences." I The program the result of | | recommendations made by a spe- | cial committee on mathematics | set up by the teachers federa- | | tion. CANADIAN NATIONAL EXHIBITION [August 26th to Sop. 12th ' ] | (except Sunday WJJL's RAMBLIN' LOU | DIRECT INTO "THE Presents In Person | GROUNDS i 1A MN i | For children's rates see your Agent. Leave Oshawa Beginning | Aug. 27th 7.30 a.m.--Dly. Aug. 27th. to Sept. 7th, | & Sept. 12th. 8:30 a.m. 9:30 a.m. AND HIS Leave Whitby Beginning Rainbow Ranch |[7:~ oi. Aug. th. " Boys | Sept. 12th. 8:30 a.m WITH A BIG Leave Exhibition hilly Aug. 27th. Grand OF Op'ry Show 8: 30 Jom, - se. J Labour Dey Only TUES., SEPT. 1 Sept. TWO SHOWS 7.30 and 10 P.M. RESERVED SEATS $1.75 GENERAL ADM. $1.50 ADVANCE SALE AT WILSON & LEE'S Admission Includes Return Fare Sov. Ze i X-lmmediately after Grandstand Per- formance (Daylight Time) | Exhibition passengers travelling on Irequiar buses will transfer at Toronto | Bus Terminal to buses running into the grounds Tickets and Information at Oskawa Bus Terminal 18 Prince Street, Phone RA 3-2241 | Whitby -- Harry Donald Ltd., 300 Dundas St. E., . Phone MO 8-3675 cinemascope | Last complete a RED BARN OSHAW DRIVE-IN ON OSHAWA'S LARGEST SCREEN TONITE M-G-M's BURST OF MUSICAL SUNSHINE! iN COLOR AND Cine S PE * : PLUS: A SIDE-SPLITTING LAFF RIOT! "Shipwrecked on a desert Island with TWO MEN! ADULT ENTERTAINMENT BOX OFFICE OPEN AT 8:0C -- SHOW STARTS AT 8:45 FREE: TORONTO ARGONAUT CRESTS : FOR 'THE KIDS TONIGHT ! HILDREN under 12 FRE ALWAYS A" COLOR CARTOON