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Oshawa Times (1958-), 13 Mar 1963, p. 23

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ett eo nt ait Lf ce et De decal mt s eo | - vow ee eS ew ye ee Stock Market Trade Medium Closes Mixed TORONTO (CP)--Unable to establish a specific trend throughout the entire session, the stock market remained mixed at the close of modera- tely heavy trading Tuesday. The exchange index showed industrials ahead for the first time during the session. Base metals also rose and golds and western oils dipped slightly. The shares volume was at its highest point since Feb. 18. Eddy Match and Beaver Lum- ber paced the industrial rise-- eack moved ahead 1% points. Oil refineries, with Shell up % on. heavy. turnover and Royalite ahead 14, were gen- erally higher, Banks were mixed. to lower. Trans-Canada Pipe Lines had one of the major industrial losses, slipping 1% to 24% in active trading. On index, industrials gained .16 to 594.37 and base metals .33 to 199.83. Golds eased .02 to 91.28 and western oils .22 to 115.63. Final volume was 3,719,- 000 shares compared with 3,361,000 Monday. Senior base metals,. moving slightly. higher, had Falcon. bridge up %, Geco % and In- ternational Nickel down % to a new 1963 low of 63%. Among speculatives, Bibis Yukon stole the spotlight as it gained three cents to 36 cents after hiting a new high of 40 cens. The stock traded 1,106,- 700 shares. U.S. Subsidiary For Mail Firm TORONTO (CP)--Mailbag In- ternational of Canada Ltd,, a direct mail company advertis- ing to teen-agers, announces it is forming a United States sub- sidiary. The subsidiary, Mailbag In- ternational Inc., will be jointly owned by Mailbag International of Canada and O. E. Mcintyre Inc:., a New York mail market- ing company. Its head office will be in New York. Mailbag International of Can. ada is a division of Canadian High News. Dense Fog, Rain Hamper Traffic LONDON, Ont. (CP) -- Dense fog and drizzle muffled western Ontario Tuesday night, reducing traffic to a crawl, forcing can- cellation of air flights and pre- venting fishermen from lifting their nets. "The fog is so thick up here even the birds are walking," commented Constable D. A. Bowering of the provincial po- lice detachment at Seaforth in Huron County. Trans-Canada Air Lines can- celled four flig' ts. However bus lines reported their sticking close to schedules. Highways department vehi-! cles patrolling Highway 401 be-| tween London and Woodstock | reported zero visibility. Provin-| cial police at Stratford had to take their patrol cars off the road, Fishermen at Wheatley in the border area of Kent and Essex counties were ufable to lift their nets beeause of fog and drifting ice on Lake Erie. cy weer wr vo THE OSHAWA TIMES, Wednesday, March 13,1963 23 BUSINESS SPOTLIGHT Mining Examined In Other Lands By FORBES RHUDE TORONTO (CP) Mine. making opportunities in many countries of the world, some of them with quite a bit of dazzle, were held out to Canadian min. ing men Tuesday at the annual meeting of the Prospectors and Developers Association. Ina symposium on "world- wide prospecting," the _ key question was: 'Should. Cana- dian companies spend their ex- ploration money in Canada or are their better chances else. where?"' The consensus of a 'dozen panelists appeared to be that vast resources wait to be tapped in South America, Mex- ico, the: United States, Europe, South Africa and Australia, with varying opportunities for Cana- dians, and with South America sending out the most siren call. The symposium wound up, however, with a rousing exhor- tation that Canada, for the min- ing man, holds the most sub- stance and glitter of all. The exhortation came from Vv. C. Wansbrough, managing director of the Canadian Metal Mining Association, who gave the following practical reasans for the success and attraction of Canadian mining: Enlightened tax _ legislation concerning mining which allows a new mine tax exemption for the first three years of produc- tion and then allows it to write- off for tax purposes its pre-pro- duction expenses. BAN PUBLICATIONS SALISBURY, Southern Rhod- esia (AP) -- The right wing government of Premier Winston Field has banned three publica- tions as possibly subversive. They are Voice of Africa, pub- lished in Ghana; African Com- munist, organ of the South Af- rican Communist Party distri- buted from London, and World Marxist Review, distributed from Britain. Stable government and a democratic system under which people can talk to the govern- ment. He predicted that if Canadian companies "experiment" with exploration abroad it will be as a fringe rather than as a basic effort. Both Mr, Wansbrough and Dr. Duncan Derry, Toronto con- sulting geologist, warned that Canada won't hold her present mining position without active pleted over the next 25 years. SEES BRIGHT FUTURE Dr. C, E. Michener, of the In. ernational Nickel Mining Com- pany of Canada group, pre- dicted that the mines now pro- ducing in the first 100 miles of Canada's exposed pre - cam- brian shield, will be duplicated in the future in the second and third 100-mile belt. He rejected portion of Canada's pre-cam. brian has better mine possibili- ties than more northern por- tions. "Not many countries," Dr. Michener stated, "can look for- ward to the mineral growth ex- pected in Canada." yo ewe Pe ey eo ee ee 6 www PP ae exploration for new mines to|' replace those which will be de-| 4 suggestions that the southern), ---- nist cuss sTewine HEE adients Ive 45. 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