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eee rw © © THE OSHAWA TIMES, Thursday, September 20, 1962 rs " POWERFUL MINING and Chemical Corporation (Canada) Limited at Ester- hazy, Sask., 110 miles east of Regina. This machine, the A powerful continuous min- ing machine backs off for a new bite of potash ore at the mine of International Minerals IMC first of six being installed, is powered by 4,160 volts. The potash mine and plant, where By DON HANRIGHT OTTAWA (CP)--A firm stand in favor of more publicity and frankness by central banks, such as the Bank of Canada, was taken here Wednesday by Professor Jacob Viner of Har- vard University. The Montreal-born professor told the royal commission on banking and finance that he ab- hors "secret persuasion' ap- plied by central bankers to cor- porations outside their legal control, He also rapped '"'back- room" government directives. "It's much easier to sin when you don't have to disclose your reasons," Prof. Viner said. "When you do have to disclose them, the reasons have to be pretty good." He was asked by one commis- sioner if he favored the prac- tice of using changes in the cen- tral bank's lending rate as a "signal" to the business com- munity of economic conditions. WHY NOT ENGLISH? Sure, said the professor--"as long as central bankers think there is virtue in being dumb." |But why not use the English language to tell people? Prof. Viner said he advocates clear-cut. mandates being given to central banks, so they know just what is expected of them. If this mandate was to aim, say, jat. price stability, the bank | would have to be able to tell MACHINE : 000,000, is eg officially | | opened today. has invested about $40,- --CP Wirephoto Professor Takes Stand On Frank Bank Publicity BUSINESS SPOTLIGHT tions, Prof. Viner said that if a central bank' pursued an ob- jective "even though the heav- ens fall," the same authority who handed out the mandate could take it away. |SUGGESTS 'COUNCIL' | The arrangement would call for "a council of war"--a for- mal, dignified meeting between the central bank and the cab- inet, held in such a way that the government would not take interference lightly. From this, if necessary, would come a new mandate for the central bank--not as "a backroom thing," but with writ- ten decisions, stating both sides of the case, clearly announced to the public. Parliament would By GREG MacDONALD | Canadian Press Staff Writer The best way to sell yourself |is to meet your customer face- to-face, says George T. Urqu- hart, chairman, Saint John, N.B. Port and Industrial Development Commission. And that is exactly what a 10-| man delegation from the Mari-| time city did in Toronto Tues-| day. | Armed with statistics, photo! graphs and promises of tax con-| siderations, the delegation met| with more than 300 businessmen) --representing a cross section of Canadian industry -- in an at-| have a chance to condemn oF|tempt to attract more industry) commend the oar ' cai Saint John. | | At no time in the hearing was) «+5 no use trying to create! |there any reference to last/an image over the tslopbane er year's festering dispute between|1,, orm letters. We decided to! the hig ge ag Cayral| come to Toronto and meet peo-| bank governor James &. , tind +P oat ] | ae Ecoaueetly resigned fol-| Ple face-to-face,"' said Mr. Urqu-| |lowing an unsuccessful govern-| | te ' lent bid to have Parkament| Sint Joby n postion eo eg a former McGill|and with manufacturing taking} | University staff member, said place close to the port, indus-| lhe is in favor of a central|tries can compete better abroad. bank's use of "moral persua-\~pying FOR HUB |sion"--as long as it all is kept) «with the opening of the Euro- jon the public record. "Secret! pean Colma Wee bea cas |persuasion, I abhor. | | the New England states, South! |ready access to the markets of| terminus which has less delay, es are eteet Gametin oat any o' 7 and whol can handle giant mo Face-To-Face Selling Urged Mr, Urquhart said that if pro- ducts for export are manufac- tured in Ontario they must be shipped to one port or another and then across the sea. "If these products are made in Saint John, then the expen- Sive cost of shipping from On- tario is saved,'* H. Herlof Smith, executive di- rector of the commission, said the city is mainly trying to at- tract light industry "hut we would like to see it used." Mr, Urquhart said he and Mr. Smith will visit England and Scotland Jater this month in an attempt to lure industry to Saint John. NEED SPACE He said that there were more than 1,000 industries in Birming- ham, England, which are "'cry- ing for breathing space, We hope to get some of them to locate in our area, "The provincial government has a plan to help finance for- eign industry in New Brunswick and already we hope to have an Italian paper company build a mill in the province that will cost about $50,000,000." Mr, Urquhart said Saint John "nearly 5,500,000 tons of cargo tankers and ocean freighters," ylall OW 2 | NYY INST J 4 | \ 4 at fine stores throughout the world, Write for folders, In- | cluding "The Gense Story", and the name of your dealer, I : I samaco TRADING tp. | | 1604 Bayview Ave. Toronto | -| Stree! City. Canadian Oil | | the finance minister "to go| DIVIDENDS | 42%, ahead %. Final volume| somewhere" if he complained--| was more than 20,000 shares, |@5 Perhaps on the question of By THE Generally, however, interest rates, CANADIAN PRESS Aluminium Company of Can- Impaired Driving Ruling Quashed TORONTO (CP) -- An im-jonto. when the accident oc-| paired driving conviction|curred. The car missed a curve against Ross Douglas Pitts, 21,/on Lake Shore Blvd. E. at Stock Market Main Feature TORONTO (CP) -- Canadian Wednesday by the Ontario Court/two poles, throwing Miss Wood in the stock market Wednesday. of* Appeal. 'from the car. Buoyed by whispers of an im- The court ordered an acquittal) with Mr. Justice W. F. pending takeover, the stock on the charge, which arose from|schroeder dissenting, the ADp-\climbed to 43 before easing to an accident April 7 in Toronto|pea] Court ruled that although; na icine Gare Ge. indus-| " 'This clear mandate would en-|ada Ltd., four per cent pfd.| able the central bank to oper-| common 25 cents, Dec. 1, rec- ate more efficiently, and to pur-|orq Nov, 9; 4% per cent pfd. sue its goal with more courage. common 56 cents, Nov. 30, rec- But the arrangement would) orq Nov. 8. still have to give. government ti i i Bowater Paper Corporation \iral wee S08 CON, Ltd., common 15 cents, Oct. 31,| "I would not share the sov-| record Sept. 17, Abitibi dropped %, Algoma| Steel and Gatineau Power %| |each, Imperial Oil % and Sha-| | Winigan %. In Banks Montreal, Nova Sco- tia, Royal, Toronto - Dominion} of London, Ont., was quashed/Queen's Quay and sideswiped|il was the feature performer and Canadian Imperial Bank of ereignty of the Dominion of| ;|Commerce showed gains rang- {ing to 4. Among base metals, Interna- | tional Nickel fell 5g, Noranda % and Falconbridge 1%. |Canada with the Bank of Can- |ada. I would keep it in the Da- |minion of Canada." Asked whether such policy 'resolutions might become fixa- Oct 1, record Sept. 25. Dominion Textile Co. Léd., common 20 cents, pfd. $1.75, Oct 15, recerd Sept. 26. America and the Caribbean, we|™0Vve through the Saint John are striving to become the hub|Port. The harbor, open year- of North America." |round, is a well equipped ocean 9 Raptionccpeem aie ins which Pitt's fiancee was killed, Pitt had been convicted by Magistrate S. Tupper Bige- low and sentenced to three months. in jail. |Pitt had had a couple of drinks more than an hour before the accident, his ability to -drive) |was not impaired by alcohol.) The argument that Pitt was SPORTSWEAR LTD. Pitt and Patricia Wood, 18,)dazed after the accident be- | his fiancee, and another couple) cause of the death of his fiancee were returning to London from|rather than from alcohol was a.bowling tournament in Tor-| accepted. OSHAWA SHOPPING CENTRE JUST ARRIVED FOR aia IN MERCHANDISE GIFTS VALUABLE FREE GIFTS for the ENTIRE FAMILY enteR OSHAWA SHOPPING CENTRE'S monty FAMILY ALLOWANCE AWARD CONTEST «+ + A Special Christmas SURPRISE PACKAGE SMOKE-TONED DARKS IN GORGEOUS POLISHED. COTTONS You wear them now, cool and refreshing and right through to Winter You'll want 2 or 3, they're almost for nothing... 'het dv ere ef ol nn HUNDREDS TO CHOOSE FROM -- SIZES 7 to 20 -- 14% to 24% SHEATH OR SHIRTMAKER FULL SKIRTS Monthly Prizes Plus... TO THE TRINIDAD II) That's our latest dreamhome, Now open for your admiration. What will you fing? Another OPEN HOUSE? No, Not just another opn house, An open DREAMHOME, we would OY cat We're proud of it. So is the new owner. (Right, it's sold already!) So would you! It has everything. From its unique front door rec. room. Complete. From its charming and roomy kitchen to the splendid livingroom. Complete. From its garage to its washrooms. Complete. That's the BEAU VALLEY way of building homes. Pardon us, DREAM HOMES. WHY NOT DISCOVER GRACIOUS LIVING, GO THAT 'A' WAY THE TRINIDAD Ill AND THE ANTIGUA WILL BE OPEN EVERY DAY FROM 2 to 9 p.m., until Sept. 25th. We'll see you today, in BEAU VALLEY. ARRIVING DAILY! ONE--TWO AND THREE PIECE KNITS -- MANY IMPORTS ALL-WEATHER COATS -- SWEATERS -- SKIRTS -- SLIMS CAR-COATS -- BLOUSES -- VAN HEUSEN SHIRTS THEY'RE ALL SIMPLY TERRIFIC -- DO COME IN AND SEE! WE CARRY BY FAR THE LARGEST STOCK OF SPORTSWEAR IN OSHAWA pathway to the marvelously designed This. month's merchandise selection: Zeller's Ltd.--$25.00 VOUCHER Young Ages Ltd.--GIRL'S WINTER COAT SET $25.00 value Bailey Foods Ltd.--$25.00 VOUCHER Fairweather Co, Ltd.--LADIES WINTER COAT $50 value. Birks--BOUDOIR TABLE AND CHAIR $50.00 value. Bond Clothes--MAN'S TOPCOAT $50.00 value. Lighting Unlimited --LIGHTED ROOM DIVIDER $100 value. T. Eaton Co.--SLIDE PROJECTOR & SCREEN $100 value Yolles Furniture--DINETTE SUITE $100.00 value. TOMORROW and SATURDAY! Clearing Special Group Fall SKIRTS - SWEATERS ~- SLIMS 10% TO 50% OFF SIMPLY CASH YOUR FAMILY ALLOWANCE CHEQUE AT THE CENTRE AND ASK FOR FREE ENTRY FORMS. ENTRY SELECTION THIS MONTH WILL BE MADE ON FRIDAY, SEPTEMBER 28th, ot 7:15 P.M. by KASSINGER THE WINNER COULD RECEIVE A TOTAL OF $100.00 IN "A PLEASANT PLACE TO LIVE" MERDCHANDISE OF HER CHOICE FROM THE SELECTION THIS MONTH. A OSHAWA SHOPPING ROSSLAND RD. EAST PHONE 725-9121 > CENTRE SEIGNEUR'S