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BUSINESS SPOTLIGHT DIVIDENDS Canadian Tax Change By FORBES RHUDE Press Business Editor Of all economic topics that be- wilder individuals and corpora tions, taxes probably are the most bewildering. Anyone can criticize them, but what to do about them is an- other matter. In discussions at business gatherings -- addressed by ex- perts, semi - experts and just plain sufferers -- a number of widely-agreed - upon comments emerge that may be summariz- ed as follows: The Canadian tax system needs revision. Taxes are too high, but there is little chance of reducing their total and probably little chance of avoiding increase. However, while the total may not be reduced, the rate of tax on the individual or individual company may be. This can be done if the country prospers to Needed up the increased yield of higher production without nting in dividual relief; ai people should not ask governments to undertake such new expendi- tures. Taxes now are so high that they are reaching the area of diminishing returns. To the extent that they are too high, or not properly distributed the rest of the world, they stifle expansion, reduce employment, and make Canadian industry non-competitive. High taxes and their varying impact have become a vital fac- tor in business decisions. An ex- pansion desirable on other grounds, for instance, may be discarded because it is of a na- ture that existing tax regula- vor} would hit varieumrly har the extent that a lesser rate of tax from an increased output will yield as much or more than) a higher rate from a smaller) output. DON'T SPEND MORE In the meantime, government should not embark upon any large new expenditures that! would either increase the exist-) ing tax rate, or that would eat! NET EARNINGS By THE CANADIAN PRESS Detroit and Canada Tinnel , Cotporation, 6 mos. ended April 30: 1962, $254,824, 35 cents a share; 1961, $277,258, 38 cents. East Kootenay Power Co. Ltd., year ended March 31: 1962, $164,475, $3.12 a share; 1961, $144,020, $2.47. Mexican Light and Power Co. Ltd., year ended Dec. 31: 1961, $4,523,000, $1.45 a share; 1960, $5,713,000, $2.02. SEE TALENT WASTE The complexity of the tax structure, and its effect upon jevery decision, has resulted in |the growth of large and high- priced staffs of experts whose purpose in life is to find the paths with the least tax penal jties. This is described by many las a waste of talent. Too much time is spent on finding loopholes and, on the part of government tax authori- ties, to plugging loopholes. The tax system has gre™ mm ay on a patchwork basis ar y is out-of-date All these arguments and many others were heard at tax discus- sions at the recent annual meet- ing in Montreal of the Canadian Manufacturers' Association. would be: To assess the effects of taxes on economic development; pos- sibly to make changes in the |tax base; and to make the sys- -|June 13, in comparison with practices in|22. Some of the purposes of tax} study and ultimate revision} | OSLO, Norway (AP)--Oslo is| By THE CANADIAN PRESS American Growth Fund Lid., three cents, June 30, record Autofab Ltd, Class A 15 cents, July 1, record June 20,/th Canadian Pacific Railway Company, 75 cents, Aug. 1, rec- ord June 22. Tuesday. United States may increase its t-| The gold index moved oop price for go! dded t, Dominion Scottish Inves Bhan pay logge fe leay uk; wen Ge Gedarsl oe ments Lid., common five cents, June 29, record June 15. st Economic Investment Trust|" Ltd., 30 cents, June 29, record June 15, five cents, July 16, record June Grafton and Company, Class A 25 cents, June 15, record disappointing stock market per- formance during light trading years. Mild profit - trimmed some of the gains and the in : Rasepeen Growth Feed 144, 7 ~ dex closed at 101.06, ahead MclIntyre-Porcupine, ahead 1% at 44%. Dome and Placer both' Gold Spoilighted On Slack Market TORONTO (CP)--Golds heldjrose a point, while Giant e spotlight in an otherwise|lowknife gained %. Brokers attributed Tike 102.34 at 1 p.m. -- is ighest level for more than 12 taking Scotia dropped 1% to a 1962 Pacing the upswing wasirel! a' point. cline in the rest of the market. giInvestors may be switching to golds for their relative security. Banks were the weakest in dustrial group. Bank of Nova|'® of 66, while Toronto-Dominion Other losers of a point or more included Price Brothers, THE OSHAWA TIMES, Wednesday, June 13, 1962 9] Line fell 2% to 73%. On Yel- 99.95. the national Nickel fell 24% to Hudson Bay Mining % $4.90. Moore Corporation, Aluminium, Alberta Gas and Investors Syn- dicate A. Interprovincial Pipe index, industrials fell 8.23 to 550.71, base metals 1.74 to 187.73 and western oils .76 to Volume was 2,337,000 shares compared with Monday's strength to expectations that the|!,883,000. Among base metals, Inter. Falconbridge dropped one point, Noranda %. Speculatives saw Northgate decline 30 cents to $7.65 and Lake Dufault 10 cents HORSE INJURED Monday at Monmouth Park. and Alie Grissom of low IRISH UNIVERSITY The University of Dublin established in 1591, on the 'of an earlier monastery. tel $20.00 by = group of b May 31. Inter-City Gas Lid., common 15 cents, June 29, record June 15. United Fuel Investments Ltd., six per cent Class A pfd. " cents, Oct. 1, record Sept. THOMSON JOKE FOUND REALITY | LONDON (CP)--Next time | Arthur (Chris) Christiansen | | makes a joke about publisher | Roy Thomson, he'll stick to | fictitious names Christiansen is former editor | of The Daily Express. In a | recent article on British pub- lishers, he said Thomson col- lects papers the way ee | people collect stamps. | "If Thomson ever heard of a paper for sale, even in one Ababa, he'd be after " Christiansen wrote. | as sent the article to Thom- son and got the reply: "Chris, I wish you'd leave | that out. | "There IS a paper in Addis Ababa, and I am after it." SAVING SPACE planning a huge parking garage} to be built over railroad tracks, | to relieve a critical traffic prob-| lem in the downtown part of| item simpler. the capital. e KNITTED POLO SHI and mom will praise fabric. Sizes S-M-L, Choose for dad from our wide assortment of cotton knit polo shirts "Italian Styled" and in the seasons bright new colors of tangerine, emerald, and many others. Dad will enjoy cool short sleeved comfort DRESS Sizes 14% to 16 RTS the wash-n-wear signs 1 "TUXFORD" BRAND Wash-n-wear dress shirts, Just the kind dad would choose | for himself -- made from superior qual* ] ity sanforized"' yg cotton broadcloth, | 2 | | 3.30 or 3for 9.50 GIFT TIES | i} | A splended assortment In lotest | Stripes, checks and all-over de- fobrics. One to suit every dad. 00 a 1.50 SHIRTS In the latest crease resistont DOWNTOWN 21 Simeoe &. $, Phone 723-2294 ZELLER'S LIMITED SHOPPING CENTRE 226 Stevenson Rd. S$. Phone 723-2209 Competitive Prices Plus Personal Service HI-D-A- DRUG STORES SPECIAL VALUES AND REMINDERS EFFECTIVE Money-Saving SPECIALS! BRECK HAIR SET MIST Reg. 79c 59c Reg. 1.89 1.49 Free Booklet plus 10c off Reg. 1.29 Size HELENE CURTIS SHAMPOO 1.19 Richerd Hudnut FASHION SET 1.33 GILLETTE Super Blue Blades "1.89 Volue 1.00 89c Size Gilette Right-Guard Spray Deodorant with STOPETTE DEODORANT and ANTI-PERSPIRANT Nice and Necessary Gives you all-day protection Applies and dries in a wink, Safe. No sticky dampness. Gentle, cool and soothing. So Stopette every day. Reg. 1.49 Large 3-oz. Roll-On Size 2.25 value for only 1.25 Reg. 98c Size -- Only 79c Twiee As Much For Your Money TEEN PIMPLES VANISH QUICKER Teen-Clear takes care of infected teen pimples fast, Developed specially to clear acne. Teen-Clear does not treat acne pimples os a mere surface condition. Instead, it actually works in under the pimples to help expel them -- to help clean out the clogged pores so the other effective healing ingredients in Teen.Clear can get in to destroy the germs and bacteria, Teen-Clear is an invisible, clear, odorless medicated lotion for morni opplication---teamed with a thin, 9 for nighttime use. The two constitue a 24-hour attack that mokes very short work of acne-pimples. Floats out blackheads, too. Positively no staining clothing and pillows. Teen-Cleor rinses out in clear water, So--for a speedy and happy escape from disfiguring Sin get Teen-Clear today. Complete treatment 2.50 value only Teen-Clear Look Only 4.00 KODAK HAWKEYE FLASHFUN CAMERA with 4.00 purchase Its made by Kodak -- so you know it's good. . Heeterentecteateteebntet SPECIALS ALL THIS WEEK! BRISTAMIN LOTION @ Sunburn @ Itching @ Poison Ivy @ Insect Bites 1.19 For control of Aphids, soft bodied sucking insects, thrips and leaf Kills @ host of gor- den insects by fumes contact. Spares bene- ficial insects. paggeecti ical ounce 4 erg two 5 pallone of 496, 1.19, 2.98 TAT ANT TRAPS -- Raid HOUSE and GARDEN 1.69 BUG KILLER 25¢ mshi EXPORT umans and Pets where CIGARETTES used as Niele ao directed Filter Tip 20's 25's } Destroy Ants in the Home or Cottage Buy By The Carton 1.D.A. Brand IDASAL TABLETS 1.D.A.'s own brand of AS.A. toblets for fast relief of pain. 100s 4Qg 300: 99¢ ond Save cat 3 Meals A Day Yet Lose Pounds And Inches Fast (sonia Bulletin) An exciting new reducing plan has been de- 1.D.A. Brand English Style HEALTH SALTS One pound tin...... ON NATIONAL NATIONAL : BRANDS Prices Effective June 11 to June 16 AQUA VELVA Reg. 1.25 ASPIRIN tes. 92 COLGATE Tooth Paste %c.%s- LUSTRE Creme Lotion Shampoo seenee NIVEA CREME kz. 123 PHILLIPS' Milk of Magnesia ks. 6-... RESDAN &2. 1.50 ee ee ard SUAVE Ladies' Liquid *s. +. TAMPAX re<.51- VITALIS | 22. 1.00 ee ee ee ee es ee ee ee a a a ey ee eres eseeees Reg. 1.29 1.09 1.09 59c ee eed ee ee ee i ee a 79¢ In the orange tin One pound. ise sinccealas oti veloped that its eat three bees ety oveey Ba » yet lose up to 5-10-15 pounds in only 10 short weeks, bay sw A fesusig Han fn chew special form im Gum before meals --_ to help prevent overeat. = Slim-Mint goes to work to ull your taste desire for sweets, 'ane and rich desserts, Get the Slim-Mint Gum ogo ing Plan at your drug store - start losing wales ¥ tomorrow. + FATHER'S DAY June 17 Billfolds 2.98 up . Cigars, Cigarettes, .. Pipe Tobaccos .... PHILISHAVE Speedshaver .... 18.88 Speedflex 27.95 Car Wash Brush .. 9 Chamois Timex Watches 7.95 -- 8.95 up Gillette Foamy Shave 79c THERMOS Perma-Seal Vacuum Bottle 2.35 These are just o few of the wide selection of gifts we have in stock. Delecdocfocforfocfortoefontonfonlonfoofoetoofoel OVER 500 STORES IN ONTARIO TO SERVE YOU JAMIESON'S 241 KING ST. EAST 725-1169 KARN'S 28 KING ST. EAST 723-4621 35% SI LAW 1204 WECKER DRIVE 725-3525 POWELL'S 725-4734 MCOE ST. N. McCORDICK'S 360 WILSON RD. S. 725-8711 MITCHELL'S 9 SIMCOE ST. N. 723-3431 Trainer Tennessee Wright said the colt, one of the top "|three-year-olds of the season, was through with racing and an effort would be made to save him for the stud. It will be four! or five days before it is known] whether the colt can be saved. Roman Line is owned by T. Detroit and Wright and is insured for $60,- = |000, the trainer said, adding was|that he also is syndicated f0 wy OCEANPORT, N.J. (AP) -- Roman Line, who finished sec- ond in the Kentucky Derby and third in the Preakness, suffered a broken sesamoid bone in the left foreleg during a workout Wonderful Foods WONDERFUL SAVINGS! GLECOFF SUPERMARKET 174 RITSON RD. S. OSHAWA, ONT. OPEN A TILL 10 P.M, | SPECIALS FOR ! THURS., FRI. & SAT. JUNE 14-15-16 is, 53° 2 osves 378 YOUR CHOICE 3 09 ? 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