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12. THE OSHAWA TIMES, Thursdey, March 7, 1963 Euromart Must Make Ist Move (i en ws WASHINGTON (CP) $l! roll said Britain intends to play gg gt 1962, $193,851; erick Erroll, Britain's B its full part in expanding world) 1961, 458. Trade president, says any fresh| + aq ngagin Photo Engravers and Electro- move to provide for Beitain's and e g in reduction pers Ltd., year ended Dec. BUSINESS SPOTLIGHT Federal Sales Tax Criticized By GREG MacDONALD three of its most serious short-|as a permanent centre of Cana- Canadian Press Staff Writer |comings are that it does not|dian commercial and cultural The federal sales tax as it|cope adequately with the brand| interests in New York City, has Canada House Building Sold Tn New York NEW YORK (CP) -- Canada House, a 26-storey office build. ing on Fifth Avenue conceived NET EARNINGS By THE CANADIAN PRESS Brown Company, 3 mos. ended Feb. 28: 1963, $585,731, 24 cents a share; 1962, $20,627, One cent, ' ty Association with the European|% 'tariffs under the U.S. trade|31, 1962, $208,956; 1961, $224,-|currently exists' in Canadt can-\"ame problem; frequently it|been sold to the 680 Fifth Av- | aaa Market must first|expansion act, This authorizes|119 not ever hope to achieve uni-|places manufacturers at a ser-\enue Corporation. William members 'as a whole." U.S. tariffs by 50 per cent over|ended Dec. 31: 1962, $7,058,221, |real accountant. the service industries." Webb and Knapp, Incorporated, Britain, he added, will not|a five-year period $1.05 a share; 1961, $6,687,225, Donald R, Huggett of McDon- EQUALITY IMPOSSIBLE announced the sale Wednesday Wellington Acce ce Cor- Mr. Huggett says the federal| involved. his government does not planjopens, Commonwealth trade) ion A, year ented Dee. caine rsa Bon ~ a cales tax cannot hope to achieve| Webb and Knapp signed a ror Common Market member-|May 18-14 to "keep in touch"|*! 1962, $27,180; 1961, $21,530.\tives of both a tax at the retail#iods cannot simply be manu-|chase the building from Canada ship or association, on the highly-involved and com: stage and the added value taX,/factured--they must be sold. |House (New York) Limited. from the European members,|at Geneva. DIVIDENDS and compliance costs, ciety today, he adds, is both|property now has been. vested including France, and the pro-| One issue that has already Writing in the current issue|extremely important and com-|in the new owners, identified of quick solution. should be set up immediately!réq., four per cent first pfd, 25/¢ountant, Mr. Huggett says that) 7 associates of Intra Bank, S. A. Meanwhile, Britain wouldjon the kind of "exceptions" to cents, hy 1, record May 10; while it may be true that a tax might agit eS L., of Beirut, Lebanon. They global basis, including trade|be entertained by the tariff/cents, May 31, record May 10. level is easier to collect because|companies perform the sales|investment. with the Communists. Britain|negotiators. Dome Mines Ltd., common 20|f the relatively small number|fynction in exactly the same| Canada House originally was with the Reds, except in stra-|preparing the guidelines for|29, Phasized too strongly that this Lawson, then consul-general for tegic military "goods. such exceptions in time for the| National Trust Co. Ltd., com-|!8 Only part of the problem, the sales tax is intended to be| Canada' in New York City, Mr. fs to accept a limited amount|vors tackling guidelines for full March 15. : system are numerous and ex-|selling price, exluding that por-|27 Canadian business leaders of Russian oil in exchange for|tariff negotiations first and set-| Northern Telephone Ltd., amples of its inequities readily|tion of the price attributable tojand each advanced $100,000 to ships, Erroll 'said British ship-|tions later. cord March 29. "Tt is sufficient to say that|sale and retail functions." idian centre in New York. yards need more orders and ° sia for more than six years. But Britain would not open an , i ork Se i a yor import quota for Soviet oil un- less Moscow buys the ships. WELCOME U.S, FUNDS Britain also would: welcome an increased flow of United States investment to Britain, Erroll told a press conference following two days of talks with U.S. cabinet members, Such in- vestment would benefit Britain, he said, by providing more modern factories and modern management. Noting that the free world's ministerial meeting on trade opens in Geneva next May, Er- Stock Market Shows Very Light Trade TORONTO (CP) -- After a day-long see-saw struggle, the stock market closed lower as it come from the six Market|President Kennedy to reduce Preston Mines Ltd., year/formity or equity, says a Mont-jious disadvantage and it favors Zeckendorf, board chairman of turn its back on Hurope, but| Before the Geneva meeting|"® cents. ald, Currie Ltd., says some au: oo Ril alas Reet ie to initiate any new proposals|ministers will meet in London|?® iformity or equity because|contract.last November to pur- This would have to come|Plex issues that will come up but with less. administrative) my. salting function in so-|That coritract and title to. the posals would have to be capable|emerged is whether guidelines) Aluminium Co. of Canada|! the Canadian Chartered Ac-| njey, as a group of businessmen and step up its trade drive on a|Proposed tariff cuts that might/41% per cent second pfd. 57|!™Posed at a manufacturing today no purchased the property as an did not believe in barring trade| The U.S., said Erroll, favors|cents, April 30, record March|° taxpayers, it cannot be em-|nanner and yet theoretically|Conceived in 1953 by Hon. Ray One proposal being consi Geneva conference. Britain fa-(mon 12 cents, April 1, record| 'Criticisms of the federal tax|!evied upon the manufacturers'|Lawson assembled a group of a large Russian order of British|ting up guidelines for excep-|common 4% cents, April 15, re-| substantiated. the performance of the whole-|finance the building as a Cana- haven't received any from Rus- The quiet beauty and never-changing charm of this Italian- inspired design will reflect your good taste through the years. Dine in an air of distinction with $499 Exclusive Design handcrafted by... In soft mellow Russett Mahogany -- all pieces are finished in "Duraseal" re- sistant to heat, alchohol, and nail polish. : OPEN STOCK -- Buy the pieces you want now -- add the rest later. this classic suite. Extension table, four chairs, buffet, china cabinet. FT PIECES 2 onc cess ov cue experienced the lightest volume in more than two months Wed- nesday. On the exchange index, indus- trials dropped more than three- BUFFET 54" x 18" CHINA CABINET 48" x 12" x 64" high 169.00 39x 5502 x72" open 114,00 SIDE CHAIR 28 00 f) TO SUIT soe ect 34.00 ! Major banking issues, gen- : $ You! "THE AMBASSADOR" FOR SOPHISTICATED LIVING - DESIGNED FOR THE ULTIMATE IN COMFORT FULL SKIRT MODEL... ARM CHAIR Each One point. Nova Scotia dipped \% to a new low of 60% for 1963, and Toronto-Dominion lost a point to 61%. | Moore Corporation was also a| TRADITIONAL major loser, dipping 1% as it) traded ex-dividend 25 cents. General Dynamics hit a new low of 275g as well, losing %. Scattered industrial gains in- cluded B.C.: Telephone ahead 1% and Imperial Oil \. Tower Marts, dipping sharply after an announcement the company was being placed in interim receivership, recovered) slightly Wednesday in gaining six cents to 95 cents on small volume, On index, industrials d -76 to 593.11 and Salen aie 85 to 115.26. Golds rose .51 to 91.63 and base metals .40 to 198.70. Final volume was 2,198,- 000--lowest since Jan. 3--com- pared with 2,323,000 Tuesday. Labrador gained % and Nor- anda % among higher base trretals, as International Nickel dipped 5. Golds saw Hollinger rise 1% to a new high of 28. McIntyre Porcupine and Giant Yellow- knife each gained %, Volvo To Cut Ruto Prices TORONTO (CP)--Volvo (Can- ada) Ltd., announced Wednes- day price reductions on itsi§' Canadian-made automobiles. A cut of $200 will be made on the company's Canadian series and $100 on the two-door Volvo 544 sedan. ; | The two-door Canadian will sell 'at $3,098 in Toronto and| Niontreal and the four-door Can-| ada at $2,108. The two-door 544 will sell at $2,798. The reductions follow the an- nouncement last month that | Volvo has acquired a factory in| Dartmouth, N.S., for production | of the company's Canadian series. Production is expected to begin around mid-year. 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