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THE. OSHAWA TIMES, Thursday, August 3, 1961 17 BUSINESS SPOTLIGHT Canadian Oil's Bigger Reserve By FORBES RHUDE pared to the intensively devel Canadian Press Business Editor oped US Canada is Zelatively Canada is contributing more | Virgin oil-unting territory, so new oil reserves to the North|far explored to only about Je American supply . than the Jom i8e Jotensity of the US, United States, Carl Nickle, pub-|*€ . : lisher of Oil in Canada, says in While Shere ape bound jo be the magazine's July 27 issue. He|S0me headaches for governm seston: beat er rol "At the beginning of 1961 proved remaining reserves in serve both the respective na. tional interests and the come the U.S. and Canada were split 90.2 per cent in the U.S., 9.8|Mon economic and security in. + % 000 54 54 54 per cent in Canada, but produc- if must joy rs 4 tion of all petroleum liquids in : ge vast undiscovered petroleum re- +5 1960 was divided 93.6 per cent 940 he U.S Iv 6.4 t to|Sources of Canada in planning 175 --8 Bo a -., only 0.2 per cent 10(¢or ofl supplies from the safest ta "Every barrel produced in|POSSible sources for the future we :,:. 1 3 Canada was replaced by 2.09 normal and emergency needs 12 12 i barrels of reserve additions, North America, while each barrel produced in REGAL NS TIOOR Nis review the U.S. was replaced by only| sf the Bank of Nova Scotia come 1.06 barrels. The net result for i Le i ments that the Canadian oil ine crease of 405,000,000 barrels in| OUSLY has regained a good deal petroleum liquid reserves was of its vigor during the last few provided about 54 per cent by| oni s: Canada, only 46 per cent by the It says there are still a num- Us A HAPPY occasion -- The birth of child. To tell the good news to and neighbors . . . The Oshawa Bey 3 Sh eR , Jus iephone 23492, The rate is only $1.50. Today's Stock Market Listings on Toronto Exchange 11 Net 1 High Low a.m. Ch'ge $79% 79% 79% $17% 17% 17% + % $11% 1% 11% --% $25% 2% -- Silverwd A 175 $12 12 12 -- 3% Simpsons 200 $30 30 30 + % Southam 25 833 33 33 St Pav 100 814% 14% 14% + % Steel Can $74% 74% 7% + W Switson 165 165 165 Tamblyn 0 $22 22 2 50 $611 61% 61% TORONTO AM. STOCKS By The Canadian Press Toronto Stock Exchange--Aug. 3 (Quotations in cents unless marked $. z--Old lot, xd -- Ex-dividend, xr--Ex- rights, xw--Ex-warrants. Net change is DEATHS from previous day's close.) Tv INDUSTRIALS into rest suddenly in Holly- 11 Net ed, Florida, on Tuesday, August 1, Stock Sales High Lowa.m. Ch'ge 1, Ray Bennett, beloved son of Mr. Abitibi 55 Sill 41% 41% and Mrs. Harry Bennett, in his 37th Acad-Atl 425 $10 9% 9% at the Armstrong Funeral | Acaq'ani A 2100 $224 22% 22% Alta Dist 225 e, Oshawa, commencing Friday 200 225 220 th service in the chapel Fri-| janis vt 2800 185 185 +3 Alta Dig w 1100 98 95 +8 wi day, August 4 at 2 p.m. Interment Osh. 9% awa Union Cemetery. Alta Gas $326 32% 32% + Alta Gas pr 108 "--1% Sales 200 280 1310 Ni High Low a.m. Ch'ge 29 220 223 -2 25 245 245 -9 210 210 210 5 Stock Sales Stock Sales Stock Royal Bank 235 Salada. 720 Seven Arts 100 % Shawin 415 Stock Sales Con Bldg wt 150 180 Con Gas 360 $18 Con Gas A 10 $107 Corby vt 210 $18% Crain RL High Low a.m. Ch'ge 180 180 +5 2% 25 17% 17% -- % $87% 87 87% + W 107 107 ~1 117 114 14 +1 18% 18% + 62 6 62 12% 12% 12% + % $10% 10 10 --% 2% 26 =o 25 $25 25 25 $11%c 11% 11% -- % 3» 39 2 +1 484 210 Secur Free 550 305 'Tidal ¢ 1000 62 Trans Can 3900 45 Triad Oil 2000 162 -_ U Canso vt 100 + Un Oils 2500 135 + Un Reef P2000 183 Yan Can 10000 1100 600 1300 -% ---F 2! 45% 45% +% 15% 15% + % 63 63% + % 9% 9 --% 43% 4% +1% 48 4 + % +1 GERROW FUNERAL CHAPEL Kindness beyond price yet within reach of all 728-6226 390 KING STREET WEST LOCKE'S FLORIST Funeral arrangements floral requirements for occasions, OSHAWA SHOPPING Mon Foods CENTRE Mont Loco 24 HOUR PHONE SERVICE : 9% 69 Moore 28-6555 : i 65 $31% 3 Nat Drug Cdn Oil 5 p NO NGas CPR z120 $25 54 NW Util pr Cdn Pet pr 200 Oshawa A C Tire A 50 Pres Elect 15 15 15 Cdn Wall B z30 5 7 CWN G pr 320 b Comb Ent 150 $12% Con Baks 250 $I Con Bldg 250 Con Bldg pr 600 Lakeland LOnt Cem 400 290 290 290 Levy 250 Sle 11% 11% Lob C A xd 1523 $44% 42% 43% +1% Lob Co A w 1560 $22% 22 22% + % Lob Co B xd 210 $48 47% 48 +1 MB and PR 200 $16% 16% 16% Mass-F 1180 $12% 12% 12% Masg-F 5% p 10 $107 107 Met Store pr z85 $21% 21% Mex LP pr Mid-West Alminex Bailey SA 735 7 60 Te 52% + % 400 30 Bail { 4pr $23 23 Ba and - all 107 21% +2 6% 6% 8% 8% + W 33 --1 8% Tombill 'Torbrit Towag U Asbestos Un Keno Upp Can Ventureg Waite Am Weedon Wr Harg 5% HUBLEY _ In the Oshawa General Alia Gas 1 8 § Muck A a, 7 A Arcadia Boepital on Wednesday, August 2, 1961, Alg Cen 18% -- % 40 AArcad B w Milford Hubley and dear mother of] Algoma s 5 Atlin-Ruf George and Stanley of Oshawa, in her Alum 1 pr 20% Wcoast Tr 250 Aumacho vig Bd x Weoast Tr vt 175 7 5.7% Anderson Funeral Home, 152 King 4 Westeel 2100 Aunor 305 305 305 Street East, for service in the Chapel Atlas Steel 31% Belcher 56 Bank Mont 3 y 4 37% + W Weston B 30 40 2,3 Union Cemetery. Bell Phone 3 275 Bordulac 9% 94 9% Bowater 7% 500 Bralorne 625 625 625 als 5 io 350 330 350 Bright 57 4 t 45 940 940 BA Oil BU + % 25 $21 21. 21 Tu ns 113 BCE 4%p 84 po ve 46% v BCE 5 pr 4 256 BY 25% + % BC Phone 5 $484 48% 4S14 en : 100 16% 16% + % Build Prod $37 9% 3 Jo Sv i 400 551 55% + YA +1 Cal Pow $27% 27% 27% + W a Can Cem 26% + W 42 + C Pack A FS on.5 C Marcus 95 Cdn Brew 500 185 180 180 --2 Con M 8 5 Ceprand 100 Cdn Celan 3 30% 31 f C Collieries Croinor Delhi Pac Denigon ys Sybol Lyons, beloved wife of 3% + % r 3 : 5 § a «tl C Cop Alumini 2 26 $5! 56th year. Resting at the Mcintosh- Aumaq Atlan Ace 22% Weston A 1000 56 on Friday, August 4, at 3 p.m. Inter- Bevcon 15 12 ment 54% + % 3 Brswk 100 Brazil 200 Bulf Ank 6500 196 190 195 BCE 4%p 38% -- 3% 215 5 BC Pow £4 304 30% + $7% hi 7 320 2294 -- % Burns $12% 12% 12% 550 19% 49% + % --- 1 Can Cem p CBAL A w 735 +5 C Sannorm 4500 9 x 9 + 23 C Curt W Daering Dicknsn 500 1000 C Dredge 2000 CGas In w | CG Sec A C Husky w ber of uncertainties but the fact remains that the mid-year tar get level of oil production un der the national oil policy has been well achieved and the prospects for continued prog- ress are encouraging. The re- view adds: "The recent increase in pro. duction is strong evidence testis fying to the usefulness of the kind of persuasive direction embodied in the policy. The pol- icy calls for some significant $11% 11% 11% 0 : 195 i 200 +3 S. 2 "At the beginning of 1961 Can- ada's proved reserves of petrol- eum liquids represented 21.3 years supply at the 1960 rate of production. U.S. reserves repre- sented only 13.2 years supply. Combined, the two countries had proved reserves equal to 13.7 years supply, with Canada, in effect, providing a surplus to give the U.S. another six months of future oil security. Mr. Nickle adds that com- Dome East Sull Falcon Frobisher - Gaitwin 8 8 8 + % Gnt Masct 69 69 69 Giant YK $12% 12% 12% --% 18 18 18 305 300 305 Goldray Grandue 5 5 5 840 840 840 10 6 6 6 3% 3% 3% To 170 C Homestd 170 Cent Del $57% 57% 57% C East Cr 3 2 9 C Mic Mac C West P Dome Pete Fargo Fr Pete pr 75 375 375 Gr Plains $11% 11% 11% -- % Heme A 935 935 935 --10 HB Oil G $14% 14% 14% Mayfair 185 185 185 $601 60% 60% + % $15 15% 15% $19 19 19 --% $81 80% 80% -- 18 $22% 2% 2% : % +2 GIDEON Bibles are a continuing me- morial. For placement contact funeral director or phone 725-2327. More Research In Chemistry $7 7 7 --% $464 46% 46% -- 1b 215 215 215 --5 $14% 14% 14% $6% 6% 6% -- % $I5% 15 15% + % Gulch Gunnar Gwillim Heath Bulolo 610 610 3 $T% wm + % 30000 Sales to 11 a.m.: 458,000. KE MONTREAL (CP)--Chemical research is an expanding field|. in Canada, W. N. Hall, presi- dent of thé Dominion Tar and Cheniical Company, said Wed- nesday. Mr. Hall spoke at the begin- ning of a four-day conference of the Chemical Institute of Can- ada, a prelude to next week's congress of the International Un- ion of Pure and Applied Chem- istry. "Last year," Mr. Hall said. "There were 250 graduates in chemical engineering from Ca-| nadian universities and only one!} went to the United States." j The point has been reached in Canada, he said, where there are more opportunities in chem- ical research and engineering than there are qualified men to| make use of them. | Toronto Shoe Man | Died Wednesday y. HALIFAX TEMPERATURES FOR THIS PERIOD VANCOUVER 44 EDMONTON 0 REGINA 64 WINNIPEG 68 TORONTO &» MONTREAL 6 o NORMAL NEAR NORMAL Police Network 'Move Organized LONDON, Ont. (CP)--A first step towards creation of a fast system of communication link- ing all police departments throughout Ontario was taken Wednesday at a meeting here of Western Ontario police chiefs. The chiefs agreed there is a need for such a system. Most favored some form of teletype hookup. Police Chief Earl Knight of London, chairman of the meet- ing, said the group's opinion will be consolidated with those of chiefs in every section of the province, and a committee of Ontario Chief Constables' Asso- ciation will approach Attorney- system will be extended on a province-wide basis, with Tor- onto the collecting and dissem- inating point. Wednesday's meeting resulted from a conference between Mr. Roberts and the Chief Consta- bles' Association at North Bay several months ago, when six regional appointed to convene meetings to discuss police problems in their areas. ROBERTS CONCERNED representatives were "The attorney-general has in- dicated he is very much con- cerned with the crime situation in Ontario," Chief Knight told| theconference. "I think he General Roberts to see whether the zovernment would' tater would subscribe to anything we convinced him would be of va- write all or part of the cost of a lue in apprehending criminals." province - wide communication Agreement DIVIDENDS readjustments. Yet, as the gov- ernment argues, it is designed "to achieve national objectives with the least possible disrup- To Merge Ready Now TORONTO (CP)--Canada Per- manent Trust Company and Toronto General Trusts Corpo- ration, which last April an- nounced plans to merge, stated Wednesday that an agreement to amalgamate now has been reached and will be submitted to shareholders of both compa- nies. Under the plan, authorized capital of the new company will be $10,000,000 and issued capital $4,616,000 consisting of 230,800 shares with a par value of $20 |each. Of these shares, 150,000 will be allocated to present share- holders of Toronto General Trusts on a share-for - share basis; and the remaining 80,800 will be allocated to sharehold- By THE CANADIAN PRESS Algoma Steel Corporation, Litd., common 30 cents, Sept. 30, record Sept. 1. Canada Steamship Lines Ltd., common 80 cents, Oct. 14, rec- ord Sept. 15. Arms Bill Approval Unanimous WASHINGTON (AP) -- Unan- imous House of Representatives approval Wednesday gave Pres- ident Kennedy authority to spend all the $958,570,000 he asked for planes, ships and mis- ion of normal trade patterns.' "It is also in keeping with the development of a strong conti nental oil system, the sort of approach holding out the most promise for the Canadian oil in- dustry over the long run." Higher Prices, Volume Down TORONTO (CP) -- The stock market ran through a records breaking day of higher prices and low volume Wednesday. The industrial index reached its highest point since the come pilation of the 20-stock index in 1934 when it jumped 4.19 at p.m, to 598.88. The index closed at 588.25, up 3.56, only 134 points away from the magic "600" mark. On index, industrials rose 3.56 aher, 71, Toronto shoe manu COOLER THAN NORMAL FOR BUGUST | A second decision of the West- facturer and chairman of the C 1 f Metro Planning Board, died lern Ontario police chiefs was to Wednesday in hospital. | Below-normal temperatures errors. The drought-stricken |Co-operate in pooling informa- Educated at Picton public and Prairies will continue to have [tion on known criminals. The in- light precipitation during the [formation will be collected in ig ed Bt BR Dull | are predicted for most of On- schools, -born| tari ns dizgd € tario and Quebec. during Aug ly London and published in bulle- --CP Newsmap |tins. businessman organized the Re-| of according to the 30-day It is hoped that eventually the Chiefs attending the meeting agreed unanimously that the ra- pid exchange of information is the most urgent need in crime prevention at the present time. Ciiief © u Farrow of Wind sor said a te be #2 3 loletyD B® asian woul! Total assets under administra- where the police station was|tion will be about $812,000,000 closedovernight. Messages|from a present proportion of would still come through on the|around $607,000,000 for Toronto teleprinter, and would be avail-|General Trusts and $205,000,000 able in the morning. for Canada Permannet Trust. Chief Knight was elected] Providing all necessary ap- chairman of co-ordinating com-|Provals are received, formal mittee for the Southwestern On-|amalgamation is expected to tario zone, and as co-ordinator |take place late this year. Name for Middlesex. Other county co-|0f the new company will be ordinators named were: C, W.|Canada Permanent Toronto Farrow, Windsor, Essex; James, General Trust Company and it Melville, St. Thomas, Elgin; C.|will have 26 offices extending E. Bagnall, Chatham, Kent; W.|from Halifax to Victoria. siles to equip the U.S. defence buildup. It was another step in rapid- fire action by Congress to hand the president as quickly as pos- sible the authority and money he requested to deal with the Communist threat to West Ber- lin and other areas. Congress already has author- ized Kennedy to call to active duty up to 250,000 reservists and to extend active duty tours and enlistments by one year. Meanwhile, Defence Secretary Robert McNamara let it belidated Mining and Smelting. known that despite the need for| International Nickel reached a more military sinew, he doesn'tjlnew high by rising 1% to want an extra $525,000,000 Con-|87, while Steep Rock, Labrador, gress may give him for heavy|Hudson Bay Mining and Smelt. manned jet bombers. ing and Noranda all rose in the 1 Before Kennedy's call for(% to 5 range. J. Ennis, Woodstock, Oxford; more armed might, McNamara] Gold trading was light with Jack Western, St. Marys, Perth. STATELY HOME |haq indicated he would not|Giant Yellowknife and Kerr-Ad- Frederick Minshall, Goderich,| Jacqueline Kennedy, as wife|spend the money even if Con-|dison down % and 3 respectiv- of the U.S. president, fiverited gress provided it. Apparently he|ely, while McIntyre Porcupine Huron; James S. Torrance, Sar- nia, Lambton. a White House staff of 70. still feels that way. rose %. to 598.25 and base metals .09 to 205.64. Golds fell .44 to 88.12 and the final volume was 1,523,000 shares compared with 1,423,000 Tuesday. The base metals market was generally quiet most of the day, but nevertheless produced some action in the senior list. Ven tures and Falconbridge both backed down from Tuesday's flurry surrounding their merger and lost a point, while smaller falls went to GECO and Consol- ers of Canada Permament Trust on a basis of 101 shares for each 25 now held. In addition to issued capital, the amalgamated company will have reserves of $6,084,000. weather office. The outlook is based on long-range predic- tions and is mot a specific forecast. A change in weather pattern may produce major liance Shoe Company in 1811 o.50k of the United States Formosa Warned On Veto Power in 1930 under the name of Ma-| WASHINGTON (CP) -- The| Informants said that despite her Shoes Limited. There now| are 100 stores in Ontario. | United States was reported to!this warning, voiced in White have warned Formosa Wednes- House talks between President day it may be cutting its own 5 4 throat if it. attempts to employ | Kennedy and Formosan Vice- its Security Council veto power|President Chen Cheng, Chen to block United Nations em: said his country reserves the bership from Outer Mongolia. [right to block any state which it believes does not meet UN| qualifications. mauritania's sist er African Chen's unyielding attitude on|states might become so in- the Mongolia issue, which is tied|censed they would switch sup- to UN membership chances for port from Formosa in favor of Mauritania, may cause a major|seating Red China. donnybrook at the next UN ses-| While Kennedy and Chen ap sion opening Sept. 19, inform-| parently reached no meeting of ants said. {minds on Cuter Mongolia, they Russia has threatened to veto|did agree that strong measures Mauritania's membership bid|are necessary to block the Reds unless the Red satellite of Outer|from digging deeper into South- Mongolia also is admitted. In- east Asian territory. formed U.S. opinion is that if] Kennedy also said the U.S. Formosa uses a Security Coun- "will not approve any arrange- cil veto to block any Maurita-| ment which would result in Com- nia - Mongolia package deal, | munist domination" in Laos. Transport Board Member Retires OTTAWA (CP) -- Leonard J.| Knowles, known in Canadian] transportation circles as "Mr. | Freight Rates." will retire as a member of the board of trans- port commissioners Jan. 2, 1962, Mr. Knowles, recognized as one of Canada's leading experts on the complicated subject of railway freight rates, retires on his 75th birthday. He will be succeeded on the six-man board by Alfred S. Kirk, 65, the board's traffic director since 1939. NET EARNINGS By THE CANADIAN PRESS Minnesota and Ontario Paper Company, 3 mos. ended June 30: 1961, $1,242583, 48 cents a share; 1960, $1,645,269, 64 cents; 6 mos. ended June 30: 1961, $1,737,212 67 cents; 1960, $3,195, 667, $1.24. Rio Algom Mines Ltd., 6 mos. ended June 30: 1961, $7,804,000; 1960, $15,201,000. Drug Suspects On New Counts WINDSOR (CP) -- Additional charges have been laid against two men arrested here July 10 on narcotics charges, it was learned Wednesday. : Nicholas Cicchini, 63, of Wind- sor and John Simon Sr., 58, of nearby Belle River, are charged with possession of counterfeit money and conspiracy to possess counterfeit money. Bail on each charge was set Wednesday at $5,000. Cicchini was freed recently on $30,000 LAST CHANCE ! BEAT THE SALES TAX! Budget-Minded 4-Pc. Grouping with a French FROVINCIAL Provincial Accent SALES TAX STARTS NO MONEY DOWN SEPTEMBER 1st ® Features fine quality BRAE- MORE French Provincial Suite in your choice of colors in rich, silk fabrics, ® AIRFOAM cushioning and fine- ly designed AIRFOAM backs combine with superb innerspring construction for real, deep come fort. ® Choice of fruitwood or walnut showwood finished in high qual- ity, scratch-resistant lacquer. bail set for the narcotics counts, and Simon Sr., was releaeed on $15,900 bail for similar charges. A third person in the case, Mrs. Rena Wilson, 43, of Wind- sor, is also charged, along with ® Also includes TWO matching BEAUCRAFT end tables in fine Cherrywood fruitwood finish, (Matching coffee table also available). INCLUDES: ® BRAEMORE French Provincial Sofa ® Matching lounge chair ® TWO BEAUCRAFT end tables in Cherrywood * Cicchini and Simon, for conspir- acy to traffick in drugs, posses- Lsion of drugs and possession of a number of money orders. She is out on $7,000 bail. OPEN FRI. TIL 9 P.M. AMPLE FREE PARKING ATOMIC GRANTS IENNA (AP) -- Grants to- ling $80,000 to buy U.S. equip- ent for three countries were pproved by the International tomic Energy Agency. Argen- a will get test equipment for heoretical research, Brazil ma- 'rial for research on use of ydioactive isotopes in agricul- re, and Israel will receive 725-6559 154-156 SIMCOE ST. S. In OSHAWA Gund is Fesearch reactor igi ----------------------------------------------------------------------------------------