The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

18 THE OSHAWA TIMES, Seturdey, July 2, 1966 NEWS IN BRIEF SUMMONS BEATTIE -- {Keith Davey, 40, made his TORONTO (€P)--Police said) maiden speech in the upper Thuradav a summons has been|chamber Thursday, introducing issued charging Nazi William|legisiauon to incorporate ue); John Beattie with trying to stir) Company of Young Canadians. wanes At _macRs.cAHOLAG Sooys QUEBEC (CP)--Maurice Car- town Allan Gardens Tyne 19. dinal Roy, Archbishop of Que- ADJOURN CASE bec and Primate of the Roman TORONTO (CP)--The case of| Catholic Church in Canada, said John West, a 15-year-old stu-|Thursday Roman Catholic chil- dent suspended by the Cobourg} dren should be taught in Roman school board for. eating his| Catholic schools. Discussing the lunch at home, was adjourned|subject of denominationalism to July 26 Thursday at Osgoodejon the CBC French-language Hall. The: boy's father, George| network program Dialogue, West, is seeking a court order| Cardinal Roy said 'the Catholic directing the school board to lift) school is the natural place to the suspension. |educate Catholic children. merenign | COURT it wiv | mo PRES WUE TORONTO (CP)--The Ontario) OTTAWA (CP)--Former war Supreme Court, which ended its prisoners suffering from dental spring sittings: at the old city| diseases as a result of malnu- hall Thursday, will resume ses-jtrition have until Sept. 12 to sions in September in the air-|claim reimbursement for dental conditions courtrooms of the)costs incurred from May, 1962, new $13,760,000. University Av-| the veterans affairs department) enue courthouse. announced Thursday. | MENTAL TESTS ORDERED | PICKET CONSULATE WINDSOR, Ont. (CP) -- Ma-- TORONTO (CP) -- About 350 thew Charles Lamb, 18, charged peace marchers, organized by with capital murder in the|the Toronto Co-Ordinating Com- shooting of Edith Chaykoski, 20,| mittee to End the War in Viet was committed Thursday to the) Nam, picketed the U.S. Con- Ontario Hospital at Penetang-|sulate on University Avenue uishene for observation. Miss| Thursday night. They were pro-} Chaykoski was killed by a manj|testing this week's bombing wielding a shotgun as shejraids on the capital of North; walked with five other persons} Viet Nam. in a residential area last Satur. PRAISES CANADA day night. Three other persons HAVANA (Reuters)--The Cu- MAY MAREE CLAIMS While other indexes on the Toronto Stock Exchange held fairly steady during June golds fluctuated wide- ly. The index varied from wry weenie. |ban newspaper El Mundo says BURNED CARD | Canada had a legitimate right) BOSTON (AP) -- David/to figure among the great na-| O'Brien, 19, convicted of burn- tions of the world. In an artiele| ing his draft card, was sen-|devoted to Dominion Day Fri-| tenced Friday to a federal youth|4ay, the newspaper describes! correctional centre for an indef-|the country's population as inite term. cultivated, intelligent, progres- sive, industrious and MAKES FIRST SPEECH OTTAWA (CP). -- Senator'ing an exemplary state." Opera Promoter BUSINESS BRIEFS | By THE CANADIAN PRESS | Faces Charges ALTERS PRICE International Nickel Co. of TORONTO (CP) -- Provincial Canada announced Thursday ment wc Fildes that effective July 1 its price| Olan, promoter of Montreal's [0° copper sold in European Verdi Festival who has been|™arkets will be the same as charged with uttering a forged the three-month futures-asked document at Hanover, Ont., in Price for wire buyers quoted on 178.84 to 182.05, closing at I | 4 | { GOLDS HAD UPS AND DOWNS | 179.39. Industrials dropped to 161.97 from 163.37. Base metals rose to 93.34 from 90.69. Western oils declined to 102.95 from 1004.67. (CP Newsmap) Various Factors By SEAN FINLAY Canadian Press Staff Writer A step-up in the war in Viet Nam and a subsequent down- trend on the New York Stock Exchange, uncertainty over the Canada Bank Act in the House of Commons and a short trading week brought declines to all sec- tions but golds on the Toronto! Stock Exchange this week. Trading was quiet, with vol- ume for the week at 12,049,404 ;quently prosperous, thus 'or SLOW Down Market week to 61 and Rio Algom 1 to 26. In other base metals, Ro- man Corp. lost 4% to 115g and Cassiar Asbestos \ to 15%. Falcombridge ran against the trend, gaining 1% to 9034. Scurry-Rainbow led losers in senior western oils, dropping 3% to 285g. Banff was off 2144 to 12% and Union 1% to 29.) Home B lost 14% to 1914 while! the A issue dropped % to 1834 Overheated Economy Damnened OTTAWA (CP)--National out- d-dramationtty in tien umped dramatically im the first three months of 1966 before Finance Minister Sharp moved to dampen down the overheated economy. The Dominion Bureau of Sta- tistics reported Thursday the to- tal value of all end-product goods and services, produced in Canada in January, February and March was $12,748,000,000. But converting: -this- fizure to an annual rate, taking into ac- count normal seasonal fluctua- tions, DBS put the gross na- tional product at the equivalent of $55,712,909 000 for the first quarter of 1966. j This was substantially higher| han the corresponding figure of $50,196,000,000 for the first quar- ter of 1965, and the actual re- sult of $51,996,000,000 for the whole of last year. In the final quarter of 1965, the rate was equivalent to a figure of $53,- 760,000,000 for the whole year. OUTPUT'S HIGHER On a per capita basis, na-| tional output was running in the first three months of this year at an annual rate of $2,815, com- pared with $2,582 in the first quarter of 1965. A main feature of the statis- tics bureau's detailed analysis of the economy in its latest re- port was the effect of introduc- tion of tne Canada Pension Plan, for which contributions started Jan. 1. In addition to starting a strong build-up of cash funds in the hands of the governments ,54. Pine Point lost 134 over the | involved, the plan meant an in- crease in labor income even though employers' contributions to the pension fund aren't avail- able to the employees. Other features in the first quarter of the year were the) upward thrust of prices, mainly in meats and other foodstuffs, a boost in exports while imports} dragged with the effects of the Ontario trucking strike and a booming consumer demand for EATON'S Own VIKING... You Can't Make A Safer Buy! Featuring Deluxe Furniture Finish EATON'S VIKING DELUXE Room Air Conditioners Don't let summer get out of hand. Install an EATON VIKING Deluxe air conditioner right now and you'll be ready to do battle with the next heat wave that threatens your comfort. Efficient, easy-to-use VIKING air conditioners circulate crisp cool air at the touch of a button . . . One in your office and one in your home you in control of things. Deluxe features include: @ An automatic thermostat to keep temperature constant. Takes in fresh air, expels stale air, dehumidifies as it cools, @ Adjustoble grilles and push-button controls, Woodgrain effect. Complete with window-mounting kit (no special tools needed). Model 66-60 (6000 BTU out- put For rooms up to 420 sq. ACH will beat sleepless nights and listless days all summer, help keep ft. Model 66-87 (8700 BTU out- put) For rooms up to 600 sq. ft. EACH ¥ va 239.95 259.95 the London Metal Exchange.| Shares compared with 13,525,654) and Husky % to 13%. 1964. rragiir | shares last week. Total value of Only bright in the list i ' Inco's domestic price for copper shares as week. ota va ue 0) nly rignt spot in e Hs ee ome oe remains 45 cents a pound Cana- transactions was $38,584,479, was Dome Petroleum, ahead % FIREMEN ARE HANDY dace valus 48 u certified cheque dian, the announcement said. |COMpared with $51,932,606. The|to 145g. anon) seer. ae xchange was closed Domini In golds, th ly group to) HARTLAND, N.B. (CP) --| to $25,000 from $25 and using COMPLETES DEAL exc 4 was ciose Dominion n golas ne only group 0 durable goods: EATON'S LOWER LEVEL, DEPT. 456 PHONE 725-7373 Agg Day. show gains over the week, When Norris Hayward's televi- it as a deposit in the purchase Banks moved lower, with un-| Dome climbed 21% to 50% and sion set canght fire, he ran to} . of a milling and lumber firm Yellowknife % to 13.) in Hanover, about 30 miles south of Owen Sound. Olan was arrested by Mont- real police Thursday. He is president of La Compagnie des Grandes Premieres de Mont- real, which brought Italy's Tea- tro Regio di Parma to Montreal for the two-week festival. The last performance was staged Thursday night. It opened June 21 Police said the Ontario offi- cers will escort Olan to Toronto today for identification and then transfer,him to Owen Sound where he is expected to appear in magistrate's court Monday. Bond Prices Unchanged By THE CANADIAN PRESS Prices were generally un- changed at the Close of. quiet trading on the Canadian bond market this week. Prices of short-term Canada issues closed with the 3%4-per- cent Sept 1, 1966 issue at $99.75 bid and $99.85 asked. The long-term Government of Canada bond market closed %4 point lower than the previous week, The 414-per-cent Septem- ber 1972 issue closed at 925% bid and 92% asked. The chief feature of interest in the provincial market was a $50,000,000 Quebec Hydro issue dated July 15, 1966, in two ma- turities, July 15, 1980 (non-call- able) priced at 98.15 to yield 6.20 per cent, and July 15, 1987- 1990 priced at 971% to yield 6.22 per cent. A quiet municipal market saw the City of Sault Ste. Marie award $1,198,000 comprised of $943,000 one five- and one ten- year 6 and 6'%-per-cent serial debentures and $255,000 one 20- year 6-per-cent serial deben- tures receiving a net borrowing cost of 6.60 per cent and re- offered to yield 6.40. per cent The corporate market was un- changed in a week of quiet ~ trade. "Wednesday's bill tender saw Qi-day bills and 182-day bills awarded average yields of 5 per cent and 5.10 per cent, down 04 and .05 per cent respec- tively. Mining Company Gives Out Dividend By THE CANADIAN PRESS Pyramid Mining Co. Ltd., 60 cents, July 15, record July 7: Trans-Canada Fund Corp., common special dividend 10 cents, Aug. 1, record July 15. Dominion of Canada General Insurance, common 25 cefts Oct. 15, record Sept. 30 Algoma Central Railroad, common 8 cents, Sept. 1, record Aug. ll Conwest Exploration Co. Lid., common 6 cents, Aug. 10, rec- ord July 15 GROW MUCH WHEAT REGINA (CP) -- The Saskat- chewan agriculture department says during the last four years wheat yields have averaged more than 22 bushels an acre compared with the long-term F stiaaicad of 16 bushels an acre. New Imperial Mines Ltd. has completed financing plans to Certainty as to when the re-| Giant the front door to sound an) bring its Yukon copper property| Vised Canada Bank Act is to be} Kerr-Addison dropped % to 10%.|alarm. He found the Hartland| into production and diamond-| drill exploration has indicated a deep ore body, the annual! meeting was told in Toronto} Thursday. President Arnold Pitt! told shareholders the company} has completed negotiations for! a $2,750,000 loan from the Tor- onto-Dominion Bank to fulfil fi- presented to the Commons the leading factor in the decline. In speculatives, traded 1,838,600 Norgold| shares firemen in front of his house.| andjThey put out the fire after he} Toronto-Dominion fell 1%4 to| climbed 8 to 27 cents. Jaye rosejcalled them from his doorstep. 6244, Royal 1% to 7344 and Mon-|2 cents to 87 cents on 991,800/The firefighters had been hos- Ameri-|ing treal 1 to 59. Bank of Nova Sco-| share In penny oils, | the street for Clean-Up} tia was off % to 70 and Cana-| can Leduc dropped 1 cent to 20 Week. dian Imperial Bank of Com- merce % to 63%. Transportation issues also! cents on 75,832-shares. On index, industrials lost 1.45, to 161.97, base metals .87 to nancing obligations to bring the| Showed heavy losses, with CPR} 93.34, western oils 2.38 to. 102.95 property, seven miles from Whitehorse, into production by) next March. DECLARE DIVIDEND Steamship 1% to 34%. In other main list action, Al- can fell 2% to 383%, Distillers Seagram 1% to 33%, Weston A |down 3% to 63 and Canada/and the exchange index 1.39 to 153.92. 179.39. In. Montreal, 2.48 to 160.55, Golds gained 2.01 to industrials lost utilities 2.14 to Pyramid Mines Ltd. declared % to 193, and Massey-Ferguson| 141.01, banks 2.00 to 119.46 and its first dividend Thursday--a year to the day that the com- % to 33%. Senior base metals were papers 1.58 to 116.43. Industrial volume was 539,207 pany first staked claims in the|!0wer, behind losses of a point shares compared with 669,202 Pine Point area of the North-| °° more to some-issues. Nor-'last week;: mine volume was west Territories. Shareholders! on record July 7 will receive a ~ 60-cent a share dividend on July anda was down 1% to 52%, Inco 56 to 95 and Denison 1% to} 3,845,458 compared with 3,387,- 430. SURE CURE FOR FORD FEVER -- Prescription -- An Affordable -- FORD -- MACDONALD FORD SALES LTD. OSHAWA BOWMANVILLE ame - High Bank Interest Rates Guard Against Inflation Immigrant Policy Changes Soon OTTAWA (CP) -- The Com- mons was told Monday night a} decision can be expected shortly, on government policy regarding} some 20,000 non - immigrants} now living in Canada without legal status. John Munro (Hamilton East), | parliamentary secretary to Im- migration Minister Marchand, told Andrew Brewin (NDP--!| Toronto Greenwood) the govern-| ment is aware of the implica-| tions of the situation. Mr. Brewin said some of the 20,000 apparently were duped! into coming to Canada as visi- tors to stay on as immigrants, while others had decided to stay on their own. It was a "serious administra- tive mess" that demanded a government decision on policy. He recalled that last March, Mr. Marchand had premised a decision within weeks Nearly} four months had passed and the problem was growing. Reds Remove Grain Surplus MONTREAL (CP)--An aver- age of one Russia-bound ship a day, each carrying an average of 13,000 tons of wheat, is clear- ing the port of Montreal, slowly eating into the grain surplus that mounted during the long- shoremen's strike here last month A total of 14 ships carrying 170,000 tons have left for Rus- Sian ports since the strike ended June 16. Most of them were idle in this port for the 39 days the strike lasted Capt. D. P. Atherton, marine Superintendent for March Ship- ping, agents for the Russian grain ships, says about 70 per cent of the ships carrying the grain are Russian andthe rest} are under charter to that coun- try. He said the surplus now has been reduced so there is no overloading of the elevators and railway facilities but said~a near-emergency existed durin the last cave of the strike, ' By SALLY RYAN NEW YORK (AP) -- U.S banks, hard put to find enough money to keep the demand for loans, put on the brakes last week. Chemical Bank New Trust Co., one of the largest banks in! the United States, raised its minimum interest rate for loans to 5% per cent, the highest since the 1930s. Within hours, in Chicago, Los Angeles, Boston, Philadelphia Pittsburgh, Cleveland, San ian cisco and all across the United States, other banks follow suit William §$. Renchard, C cal Bank chairman, said bank raised the rate from 5! per cent "in view of. the con- tinued and increasing pressure for bank loans and as @ step toward discouraging inflationary credit expansion." For months, the federal re serve system has been tighten ing the screws on the economy to combat inflation. It raised the 'basic discount rate to member commercial banks from 4 to 44 per cent in December, and the banks re- sponded by increasing their prime rate to their best custo- mers to 5 per cent, and in March to 5% per cent. A Johnson administration, economist said that tightening bank credit was generally de- sirable to counter inflationary pressures, but that he would prefer it be done by rationing loans rather than by discourag- ingly high interest rates. BOOST LOAN CHARGES In June, most major New York banks increased their charges for automobile and other instalment loans 50 cents per $100. Any further increases in some States may be limited by state laws. The Pennsylvania house of representatives approved this week a bill that would limit credit charges In New York, the 'going rate on home. mortgages already is § per cent--all that the law will allow. on loans to brokers and dealers last week. Morgan Guaranty Trust Co. of New York, one of the largest, raised it to 6 per cent from 5% per cent, after other banks went to 534. But Morgan said its rate on loans to finance underwriting and distribution of securities| would be 5% per cent. The brokers usually charge at} least ¥% per cent more interest when they reloan the money to| customers, 1 Los Angeles, Lytton Sav- ings and Loan fered 544 per cent on regular iccounts and 5% per cent on special bonus accounts, break- i the interest ceiling set by Federal Home Loan Bank yard, The board authorized in- creases to meet the competition. New York savings institutions eported heavy withdrawals. Of icials said they thought most of the.money was going to com- mercial banks offering certifi- cates of deposit paying at least 5 per cent. There were these other busi ness developments during the week --International Telephone and Telegraph said it would cut some overseas communi- cations rates, reflecting} economies from the use of COMSAT's space satellite. Association of-|% C ee WALLY GALES Representing | AMERICAN GROWTH | FUND LTD. FINANCIAL PLANNING THROUGH MUTUAL FUNDS featuring AMERICAN GROWTH FUND 67 King St. E OSHAWA, ONTARIO PHONE 723-8801 "We will be happy to serve you' | LEE GALES --- WALLY GALES | | L. SAVE $ $ ON AUTO INSURANCE | $22.00 on your auto ee 3 597 KING ST. DIAL 728-7567 If you are an Abstainer you save up to insurance. JOHN RIEGER E., OSHAWA Many banks raised their rajes GET RID OF DAMPNESS EATON VIKING DE LUXE Dehumidifier A dehumidifier in your home will stop mildew, dry rot and dripping pipes, protect your furniture while keeping air fresh and dry. Powerful 1/5 h.p. compressor removes up to 4% gallons of water every 24 hours, protects up to 18,000 cu. ft. Other features include an automa- tic humidistat to maintain the de- sired comfort level, a signal light to indicate that the plastic water container is full and adaptability for automatic water disposal. Easy- to-operate, finished in brown and beige enamelled metal with white plastic trim. Moves easily on cast- ers, needs no special installation, About 18 x 12 x 26"; 115-volt 60-cycle operation. Model DE-6, EACH --_--, >< -- EATON'S LOWER LEVEL, DEPT. 456 PHONE 725-7373 Do You Know About All The Services Offered By EATON'S Jewellery Repair Department ? Our Jewellery Repair Department is prepared-~to tackle practically any- thing ! Well, almost. Just look at the wide r@ of our services! Price estimates supplied for any*service upon request. Repairs --- Of Electric Shavers, Hair Clippers, Necklaces and Bracelets, Dresser Sets, Ring Mounts and Watches. All clock and watch repoirs covered by EATON'S one-year service worranty, excluding rough treat- ment or occidents after repairs ! Silver and Hollow-ware Silver-plating and 'Arris'. anti-tarnishing pro- cessing, buffing and repairs restore your precious silver serving pieces to their original beauty ! Bronzed Baby Shoes To remind you of Baby's first steps! Shoes bronzed, mounted and combined with a favorite baby picture in a hand- soem bronze-finished frame. Scissors, Shears, and Knives -- Sharpened, tightened, rejuvenated to givetyou longer service. Handbags -- Made over to look like new... replace clasps and handles. Ring Mounts -- Have your valued rings rebuilt or remounted in a modern setting Engraving ---- By machine or hand on watches, silver-plate, er flatware items, lighters, inscriptions engraved for personal remembrance or for presentation. Pick-up and home delivery of items to be appraised and repaired avail- able without charge ! EATON'S MALL LEVEL, DEPT. 615 PHONE 725-7373 WATCH FOR IT... EATON'S RECORD-BREAKING DAY SALE... COMING SOON! © STORE HOURS: 9:30 A.M. TO 6 P.M. MONDAY TO SATURDAY. OPEN THURSD AY AND FRIDAY UNTIL 9 6