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expect increase in nh a mortgage rate ai result of a meetln with minuter of public works daid winter the national house builders association expects an increase in the nha mortgage rate will be announced present at the meeting in ot tawa were nhba president maurice joubert montreal pastpresldent l t wade cal- pry and john caulffeld smith executive vieepreatdent they ware accompanied by alan j scott president of the urban development institute ontario division stewart bates presid ent pi central mortgage and housing corporation was also cation on which delegation conventional also considered in the nuba brief the present statutory li mit of 60 per cent of appraisal value for mortgage purposes is not in keeping with present economl cconditlous and res ults in too heavy a burden the house purchaser in terms of dowtrpaymenta the associat ion stated this in turn encour ages a greatrdeal of secondary financing at excessive interest rates the seventh resolution presented by the nuba therej pasent this was the first ocfore rccommendedthat govern ment departments involved from the nhba met officially make a joint study with a view with mr walker to discuss the to permitting increase of future of the housing industry limitation to 60 per cent increase te possible u o eleven resolutions were prej proposal sated three of them from thej the last nhba resolution rban development institute concerned housing research and of greatest importance and in uh d f ts expansion re- tarest were the nhba s recom ferring to a submission for re- tnandatlons concerning the search funds available under kha interest rate although the nanonal housing act tt bo figure was quoted in the urged that the government sup- resolution on the subject it was port the nhbas proposed suggested that 6 per cent search program a separate the first pointed oat that lack of trunk services which in many cases are begond the fin ancial reach of munlc was causing a scarcity viced building lots this results in higher prices both for the land and for the bouses built on the land the resolution cal led on the federal government to divert funds now being used to finance land assembly sche mes into the installation trunk services this it was felt would achieve the same ends under more efficient and tax- paying free enterprise citing the 11 per cent pur chase tax on concrete sewer 4pipe and other materials which is paid by a land developer when installing services for a municipality but which is not paid by tbe munlcinalty if if in stalls the services it self the second resolution pointed out that this was a further item increasing the cost bouses that the from such tax be extended to do you snjns i hafpeat to be rang your way price supports reviewed iik ui cuae ui new s zby ont cream producers include the land developeron canada s price support ptms1s million on its supportpro- nresentation of a certificate farm products was rev gram tewed for delegates to the ont the more than 200 dejegates tw mohwltown hkatb page t ttaarariat glualli 11 im wb he a mintmum realistic iiiiwrswi stst ttssts zl st sslstsl tuntr to urol investment e on this sbecf rl in themsulled b public unities l l t j hed of the from lending institutions in the daj this was a follov up tq the referring to federatprovmc pe of jl na rt srstr birr prese r s fzlsmz lizlsrszzszss ujdisppartl due to the would be forthcoming since need of sucb subsidy the third f t i i lorew and t irso4r higher returns available else- then the niiba has engaged a and last resolution pointed out of e m p x tbe mtntster director i admlmsicr 2 utfact tt jl5 no lln javonef zlott z fxzca pathetic to the nhbas prescn research unities and ls utfrequentlj being misdated t r otttne wnou indusl tuon on th subject and it is made further studies through to those not in need of such as- lit a tsssftn oreaniiuo n ne expected an announcement will s of research bouses it sistance it requested the feder- z h snrsnuu c of a be made following cabinet del hoped gra tome gmernmen to premit the j dem lk sen to fhe ecls buttons before the end of the be allocated b the sale b tender 0 public auction t z hf s2 nz bs wntve more fundamental step i onlno dv vicrt land on a broader tas e of p nd li jh h i a ed some products w re suppor trucking and tradepcpresenta- ted at more than the 80 peritives he also warned producers cent level i sgamst buiming more plants bt cause of too high a support suggesting the use existing level in some cases surpluses cooperatie facilities in the began piling up mr pearsall province indicated and tome pork and dr irvinqboted figures eggs for example were becom- show lhatv 1980 if population alex caldcr was chute- 1 world concluded the program ing unmanaable in hope- of increasesas predicted canada i nun when the knox church solo and duet parts in jun correcting the situation go would need an increase in dairv 1 concert was lor intermediate department eminent introduced deficiencv cows itff 100 000 per ear if the pvtmms in place of the old demand for dairv products n playuig way under their full strength georgetown bantams lumpedim the weston bantam georgetown arena sunday night to take a sl win in the preseason exhibition ulness kept jack gudgeon terry lane and hike cummins out of the lineup and cunning ham and saunders were unable to make the game the missing players meant some lineup jug gkng wayne riddall the clubs alternate goalkeeper got into the game as a defenseroan and regular defenseroan rod press- wood shifted to a forward line to fill a gap there the georgetown team which has bettered just about evervr club willing to ukfthetn on i an exhibition tilt should be the scourge of the county when i the league is official launched sometime in january they limped along with just two lints sunday but still proved too much for the wcstoncrs norton scored the onlv oal in the first period after takhtj a pas from johnny adams to put the locals one up the stc- i and frame was scoreless but georgetown hit their peaar in the third tallying twice to wcs- ton s lone goal davidson from riddall and kcmshead from norton finished the scoring s yr ur-ny- of tritoadahlp mi h esuasectaosmbt eeotessahghmm wucdvl robertson electric ken robertson 52 norton crescent tr 7 2924 difficulty of mortgage shortage is to be alleviated to this end it strongly urged the minister to consider freeing of cirr c rrtccri ffr the nha rate entirely while juppcr xclflteri rtjl presbyterian children the delegation received no as surance in this connection the minister did not reject the idea it is recognized that an in crease in the nha rate will raise slighth the income re- qmrements for families wishing chri to acquire nha financed horn heid tndav 3cabs3 i radio equipped i reliable drivers j glen taxi i perated by jiip bell service every day i including sundays j tr 72432 r f cs totst it 1 1 ou enjoj alt the liappincss and good so fotluiie life can give maveal motor sales j5 international sale service lalder open- were taken by frances linton es io neip onset uus intlu rr v uc nuicaison jojee offer lopurchae schn he tolie met he told ence the nhba recommended hrhliuasprav er and jesus brown heather barber joanne lexpecud the govinimem would lltat at present 17 ptr cent of i in a further resolution that the jf were b the besin l terr u spend up to s60 million in 19b0 canadians ar employed in the mrs j bn on the pork program and nearly dairv industrv which ha a 10 million on the milk pay- gross value of one billion dol government increase the gross debt service ratio beyond the present 27 per cent this would permit buyers to commit more of their monthly income mortgage payments thirtyyear amortization period requested ners kindergarten reutatliuns were presented bj brent alcniven beverlej crawford stephen bailej janice inglis bobby to tjler mary jane mcclure i brenda muckart and wefld wells a finger plaj five lit tie babies a song lovely christmas tree and the carol the amortization period of awa in manser also nha mortgages was considered presented bj the kindergarten in another resolution while i ci the national housing act as it a rociution christriias stars stands does permit this nenod l j xseepv j n i heads christmas choruses re- 111 j l ctu tauoo christmas and the practice 25 years is used with of christmas md play few ce the nhba rev beheve or not to cwrnended that the 30yea presented b the other period be implemented as a gjeoenl practice on nha loans i so that monthly payments mitchell scripture ber was pianist for the evening the children were served supper bv the knox ladles aux uiarv and later in the evenmg santa had oranges and easily for each child concrete gravel wilding sand road gravel ru and top sou stone work ments lat ear he said the lrs per year the dairv indus- govcrtuncnt had a net cost of try is presently short of tram j anight be reduced while the nhbas recommen dauon that the nha rate be raised was designed to lift the total burden of providing housi tag money from the govern- bunts shoulders it recognized at the same tune the necessity f a residual lending program y the government this is particularly important in out lying areas where lending in stitutions are not so active tberwlore the nhba recom- vended in a fourth resolution that this program of residual sending be continued with par ticular regard for these areas another resolution however 4rged that floor area restrict ion on direct loan mortgages be removed completely these restrictions it argued are ar- itcaxy and unfair and do not geeet market or municipal re quirements in many sections of jthe country tbe size of the governments saortgage insurance fund was rtven another look by the mhba delegation resolution six recommended that serious eonsiderarion be given to red ttdng this fee which now i e jttands at two per cent it has created what the nhba termed am excessive reserve fund of 45781081 fas of december 3l mm which will probatily reach s5 miliioo by the end of this wprsslbtb redyino au w mr aiwaie in sear haaataoffk 4xfmyw himi v 441si tv trouble tr 73 376 wm wkk tv it a specialty not u instauations antenna op all typo for 60 we ve a wish sincere for you and those whom you hold dear may the days of the cominq year br nq you peace rd oy and all qood cheer richardsons hardware t5 main si s tr 73501 s heres to 19601 may h bring yoi everything you re wishing for john r barber agency msumncc and itavk 37 miu st tr 72214 the royal bank of canada condensed annual statement 30th no ember 1959 assets cash on hand ariu itue 1jfm banks tniludirrg items in transit 558 724 021 government of canada and pfovintnl government securities at amortized jluc 787 719587 other securities not excluding marktt vilue 472 429 923 uu loans fully secured 366068 424- 4 9 total quick assets 218494195 other loans and discounts 1522 568647 j mop gages and h poilut- insured under nha v-7i95- 2916 15r bank premises 45925659 liabilities of customers undtr ancpunus guarantees and letters of credit 78 859 408 other asstis 5 606 834 a j 4 129 658 661 efxbiuties deposiis j t 377 620 441 acceptances guaraoices and letters of credit 78 859 408 other liabilities r 17 l57316 total liabilities tothe public 3873637163 capital authorized 10 000 000 shares of10eich 100000000 paid up 6 048 000 sharesjj issued and fullv paid 60 480 000 rest account 195 020 000 undivided prohts 521 496 256 021 496 4 129658661 statement of undivided prohts profits for the ycr ended 30ih november 1959 atter provision for depreciation and income taxes and after aaakins transfers to inner nn out of which full pro vmonhu bcea made for diminution in value of invest- ments and loans dividends at the rate of si 02vi p diare s sxtnt distnbuuon at the rate of m per share 1224559 1814400 transferred from inner reserves after provision for income taxes exigible 4 tef undivided omhts 30th november 1958 i l t i 17119140 14060 59 t 03b781 1000000 5627 1 transferred to rest account balance of undivided profits oth n tocmt proviuab lor tocoew kit io ryo oo0 james mutr cbaiiaiitj and president k m sedgcvkk