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ostons Simm¢ns CANADIAN PRESS 11 Boston Bnilns netminder Don Simmons feels something sharp at the bath his nook its probably an axe Despite generalmanager Lynn Patricks repeated renca that the Port Colboruo native isnt to blame for the slump that sent Boston sliding to fifth in the NationelHockey League his re centperformances nugur at least temporary change in the Bruin nets Thursday night was one of his more woeful as he made only 16 saves while Bruins were losing their 12th game in thclrvlut 16 starts 42 to the pistolhot Chic ago Black Hawks SIXTH SEUIOUT In Montreal Jacques Plante an oddsnn favorite for the leagues best netminder chalked up his sixth shutout this season as Cans ones $450000 liay Fight Moore MIAMI Fla AP George Raft of the movies was uctlve again Thursday night in his role of boxing promoter Raft who is connected with Havana casino Capri said he is olfering $450000 guarantee for middleweight champion Ray Robinson to light light heavy weight champion Archie Moore for the l75pound title in Havana in March He also said he is proposing 15round mutch betwcen Cubas Nino Valdes and Swedens loge mar Johansson Raft recently extended an of fer of $400000 to heavyweight champion Floyd Patterson for title defence against Valdes in Havana The offer has not been accepted Name Cepeda Top NL Rookie BOSTON AP Orlando Ce peda heavyltbittiug firstbaseman for the San Francisco Giants to day was named the National Leagues rookieof theyear in 1958 The 21yearold Puerlo Rican was unanimous choice for freshman honors in balloting by the Baseball Writers Association of America Cepeda husky Moot2 200 pounder from Ponce won berth with the Giants last spring alter sensational 1957 season with Minneapolis of the American As soclauon The young San Francisco slug ger kept the Giants in the thick of the pennant race until late in the season Ccpeda who hats and throws riglm wound up with 312 bat ting average seventh in the league 25 homers and 96 runs batted in He had 309 total b13585 lnchrding so doubles and four triples to rank fourth behind Ernie Banks Willie Maya and Haulr Aaron in that department anus than was via In Lupusunmanast ppmdime amineAlanine Ginlot REG Dad nd us no Hold mm Mm on on Jason Covel You gretnllfthls M92 mu stones LRDUNI roman emrnent dlens defeated the visiting To ronto Maple leafs 30 Simmons who played senselt usually against Montreal in the Stanley Cup final last seasonan hasL horrendous 310 goalten owed average and the Bruins with one of the issues best of feuoa have farsndaway the worst defensive round goals against them in 41 games giro Simmons bis duebe was up against some of the leagues fastestclimbing scorers and one of those four goals were scored in an open net The win gave the resurgent Hawks sixpoint hold on second piano 10 points back of the all conquering Canadians name my mun Bruins gave it good try most of the way tux system Chronic inflation is the great est single tbreot to Canadas economic development declar ed JamesMulr Chairman and President of The Royal Bunk of Canada at the banks Annual Meeting in Montreal on Thurs day January 8th Reviewing the conditions which must be met to ensure continuing econ omlc growth high level employ ment and stable currency lfr Muir said Regardless of the skill and energy of the monelary authorities on effective moo etary policy is impossible so long as consumer credit is fro to move in the opposite direc tion The Central Bank con tracts credit ln booms and ex pands in recession Unregulat ed consumer credit expands in booms contrack in recession Those dependent on bank credit have to bear the full brunt of cwdlt restrictionwblle others enjoy soendinv spree To break up this unholy alliance of injustice and futility have repeatedly urged that monetary and credit control should em brace wider area of our fin ancial world than thev now do FORIVIIDABLE TASK Until fundamental budget changes can he made the Gov ernment must finance its deficit by selling bonds to the general public the chartered banks or the Bank of Canada The shift from bonds to equities in spite of the relative attractiveness of bond yields rules out the gen eral public The need for liquids ity inhibits sales to the banks except for the shorter maturities Purchases of securities by the Bank of Canada whether from the general public the chartered banks or in this case the Gov flnances government debtthrough an increase in the money supply Thus at when inflationary pressure is growing the indicated policy for the Bani of Canada monetary restraint may run directly counter to the financial needs of the Government It is this form idable tasirbf steering between chlla and Charybdis between failure of monetary policy and failure of fiscal policy which in the months ahead will try to the limit the imagination and re sourcefulness of those charged with the problem of government finance TBut surely it is not beyond the wit of our fiscal experts in government and elsewhere to devise system that will min imize lhe role of the business cycle in determining the size and nature of government spore sored economic activity Surely amore flexibld tax system could be devised which would adiust tax rates to counter cyclical dis turbances not only quickly and effectively but without arbitrar ily choosing the relative im portance of the government for in our economic life Such system combined with more comprehensive coverage by our monetary authorities in the reg ulation of credit could think provide an economic climate for highlevel employment and econ omic growth and at the same limo protect the value of our currency fromcthe ravagesof chronic inflation CONVERTle Referring to the recent deval uation of the franc and Bro talns move toward convenmll ity Mr Muir said One of the most important devices for en suring the mobility of inve ment funds capital goods sumer goods and services among the nations ofthe world is tree ly operating foreignexchange market this context two recent even of special interest concerh thc French franc and the pound sterling Devnluation of the Frauen the Hawks ahead 10 at at 12 the Bruins tied it left ridger Vic stasiuks Eddie Llwenhuger who Elvin ell our seiectm sane second thoughts on their rlgb wing choice scored his 18th oftho mean in the second Ind and cblceso went into third period with 11 lead Jerry loppaszinl got that back for Boston at am of the third with In lull going to newcomer Larry Mach brought American Hockey League to re nlnoc Bruins waived centres Leah With Montreal men short Kitchmer FLOAN NETS in Then Tod Sloan scored his 15th of the reason when he and Ted Lindsay were in all alone on Slrn playing his first game at centre North Bay mons and with the lanky net mlndor pulled for an extra for AnnualMeeting of Shareholders TheRoyaI Bank ofCannda James Muir urges more flexible with wider control of money and credit te curb chronic inflation West can set an example of free economy in action by keeping markets open to underdeveloped countries RISKTAKEN MERITS REWARD Adquate reward for productive effort and risk is an important condition for economic develop ment said Mr Muir Government with the aid of tax experts should make thorwgh study of our complex tax structure with view Lto improve ment both in the distribu tion of the burdens and in theallocatioo of the net rewards for productive activity would like now to move to more specific cases If labour becomes more productive higher wages can be paid witllou inflationrihelncrease is both an incentive and deserved reward lf risks are taken to expand pro duction in some direction the opportunity for cor respondineg large reward is not only prerequisite but justified to the extent of the risktakers contriblt utlon to general welfare wouldlike to join those who are urging the Government lncoosiderinc the report of the Borden Commission on Energy not to move hastily to out publlcltutility strait jacket on one of the most important contributors to Canadas riskcapital inv vesnnent the oil and gas industry risk industry that has been respoosible in large measure for Can adas brilliant economic showing since the second world war Uncertainty bred of rear fear of crippling regula tion can cut off risk in vestment =and destroy all hope in the free world for sustained and healthy ec onomic gro franc was inevitable Now it remains to be seen how stable thenew rate will be Naturally this will depend upon how firm ly the internal economy of the country can be built up and upon how faithfully the people will accept the new restricqu they must endure to come through successfully The immediate significance of Britains move towards cou vertibiiity must not be exagger ated All she has done is to make formal what has inform ally been more or less the case viz put Canadian and US ezerl ing socalled and Transferable sterling in the same bracket This means that all nonsterling area holders of pounds are now in the same boat which is to say they can freely dispose of their sterling for dollars or any other currency at the going rate within the support points estab lished by the British authorities viz $278 to $282 us One irnportant outcome is that London can deal freely and directly with all currencies and again gel back to where she was before the war as the most important foreign exchange market in the world The at hope is that these latest dgzlopments will hasten the day when the Ul can throw all shackles overboard 1nd make the pound free and fully convertible for everybody inside as well as outsidefthe sterling area FOREIGN AID to underdeveloped coun said Mr Muir is use less unless it leads to sustained and sellsustaining developme MayGet The Axe intheumurur 35 rearward Doug and pulled the trigger frigid feet on the crowning humniatiou for the he kneeled down to block all shot by tarry Regan with chest Then he outskated Regen for Late elnce waived by Bon ton to the Toronto goal Royal Bank Assets Over $4 Billion Sedsewlck General Manager reported that Royal Bank assets had ed the $4 billion mark an that Capital funds no totalled nearly 350 000000 Deposit figures in Canada have of course increas ed markedly said Mr Seduc wick and we are particularly pleased to see substantial growth during the year in our personal savings deposits where the fig ures are larger by $148 million odd than those of year ago As at date of the Balance Sheet our depositors numbered 121 indeed source of much satisfaction to us Mortgage loans arranged by the Royal Bank had increased by 22 to nearly 65000000 and shareholders now numbered 22156 an increase of 2200111 the year Referring to the banks con unuing program of new con struction and the improvement of existing premisu Mr Selige wick noted that important new offices now under construction would be opened in 1959 at Chao louetown Montreal and Jan couver and that within few monthsayuork would commence on new main office in Ottawa and Windsor and on an import ant branch office in Edmonton BUILDING PROGRAM During 1958 we opened new branches in Canada and four outside Canada three of which were in Cuba and one in Puerto Rico We have can nleted maJor additions to our branches in Bridgetown Bar bados Nassau Bahamas and at number of other points Work is underway now on new trial office buildings for Kingston Jamaica and Ciudad Truiillo Dominican Republic Also our Bogota Colombia main office is being expanded and comolelrly modernized Therecent appointment of Far Eastern Representative with headquarters in Hong Kong said Mr Sedgewiclr had placed The Royal Bank of Canada in position to provide ontheeoot assistance to foreign traders wbo wished to take advantage of what Mr Scdgewick felt to be opportunr tles for further lm portant expansion of trade be tween Canada and far eastern countries and fundamental social changes in the underdeveloped countries are requiredbefore the spirit of enterprise is sufficiently strong to achieve who we might call 1escape velocity independ ent of lhe temporary rockeb thrust of econornlc aid Without fundamental changes greatly expanded aid fannedby over enthuslarm if not emotional compulsion may have perverse effects not only in the inflation rldden west but in the und developed countries themselves 11 think we must raise the question whether oarmarlung more aid is best for East Asians or the West until muchpmore has been done both in education and in the careful preparation of programs that achieve proper balance between agricultural and industrial development The big question said Mr Muir was whether the uncorhv mitted underdeveloped coun tries would try to develop private enterprise economy as an instrument of growth This depended he said not moer on expanded economic old but on the example set by the West and by good example moan not merely that we set our own house In order butthat we keep the economies of the West noon to the goods produced by the underdeveloped countries 0th erwise we can only expect these countries to adnut policy of selfSuflClEnCY with its inev itable counterpart centralised controlrof the economic system In other words it would nave underdeveloped co tries abroad develop along privateenterprise lines we must set an example of the free economy in action IHOCKEH YBECORD ssssausE nu5 REEE1 EEEEar nausea =n===r Detroit at New York more Games ml mm If he Manhunt Boston New York at Gilcago ORANORA senior Pie 14 Chetham 21109121 98 20 1138101 1615 0113121 1415 5119 1417 2131 7109s Thursdays Result Cluthqu North Bay Tonights Game ML Sudhury Windsor 125 107 Chatham at Sudbury Unit No 131 av lbs prime beef roast lb minute steaks lb minced beef lb wieners In chicken ion lb pork sausage lb bacon lb bologna ii cod fillets beef pies pkg frozen peas lb frozen corn lb pork cutlets Over 15 lbs flue frozen foods for 8005 Unit No lbs fresh pork roast lb lb lb lb lb lb loin pork chops minute steaks baby beef liver pork sausage wieners bacon lb minced beef pattiel pkg cutup chicken pkg frozen peas lb frozen corn lbs frozen stznwberri Yes our 15 lbs fine foods for 0695 on No lbs prime beef roast lb loin pork chops ft lbs minced beef 16 lb pork sausage lb bologna 1b wieuerl lbs minute steaks lb bacon lbs bruising ribs aka peas lb corn lbs strawberries Approximately lbs fine foods was SSSZSBi gt =====ur su nanEnifin as xSt likes Godph Barrie Idalbocns Hamilton xlncludcs three lounpo Thursdays Itesnils St Catharina Barrio Guelph Hamilton Marlboros Peterbornugh Tonlxhls Game Barrie at Guelph Quebec League Quebec Chlcoutiml qubcal ThaisRiviera Ellie League New Haven Washington 12 Philadelphia Charlotte cape Breton senior Northsidc Sydney Nova Beetle Senior Stadacona Halifax Manitoba Janin Winnipe Braves Brandon Thunder Bay Jnnlnr Fort William Cs Port Arthur Saskatchewan Junior llin Flon Saskatoon Prince Albert Melville s= gEEB Essacaae HOME FREEZERS SOLD AND SERVICED WITH FOOD PLAN lillilillPllli F0005 345 ATHERLE1 ROAD DEAR HOUSEHOLDBR mommnmsrsmmsmir Petes Top Bilts Edge By THE CANADIAN ram St Catharines TeePees Thom day night received their first solid beating of the Olprlunlor season and it took the fifth place Barrie Ilycrs to do it lacking full services of star forward Stan hlikill the first placc St Catharines squad had llltlc answer to Fiyen who scored sis before TcePoes found the net in the final period Barries win broke filthpletn tie with Tomato alnrlboros who lost 62 to secoudtplace Peter borough Petcs in the other game founhvplace Guelph llilt moros defeated Hamilton fubg 53 MIKITA HANDICAPPED Nikita who broke his wrist during Wednesdays all star game at St Catherines made only two short appearances on Barrie ice Nelson Lecleir and Gaetan Sb cours each scored pair for WHOLESALE AND RETAIL MEATS FROZEN FRUIT AND VEGETABLES ETC Marnés Cubs with Llny Jones and Pierre Gum adding Hilts starred for lacs sribcrcs nclI Peterborouch Peter 11 in the first period but trailed going into the third when Wayne Boddya three goals led Pctcs to victory or 1700 fans Fred Dari Bill litanonry and Chuck Hamilton gotLb other Peterboruush goals Jim slurclue and Jack Peppin scored for the visitors ll alnlltou Jenn liattelle scored pair for Guelph Ron Brain Sandy McGregor and Bob Erlel added singles Newcomer lical Fourth put the tellend Cuba on the scoreshect with single and Stu MCNQIII and Don Wilcox got the others Hamilton drew two majors and nine minors in bardhitting game Guelph was messed pair of majors and seven min are 0mm our Jennn 1939 Would you like to beat the high cost of living Would yen like the finest quality meats Red or Blue Brandt for the average cost of we lbl lf you have refrigerator with frozen food storage You can purchase any of the following alts delivered to our horn You can cut your food costs from 10 15 You can open monthly charge account if you with to purchase pal each week for email service charge Our Family Pairs offer these services to every home Now is the time to order your pair and live better for less money signed Pat Mayhem Unit on lbs fresh pork roast loin pork chops minute steaks incédbeei pork satuag baby beef liver bacon wieuers pkg cutup chic Pkg neas 21hr frozen nppl lb frozen cum Over 15 lbs fine frozen foods for 8729 No unll No an lbs prime beef roast lb pork cutlets 11b When lib pork mam lb bacon the pork books ddcken pies lb pork liver ken lb minced beef Vi lb cooked item as lb frozen corn pkg frozen pus UnitVNo All Meat Yak lbs prime beef roast lb loin pork chops llb rnlnced beef lb wieners 1b minute steaks lb pork sausage lb bologna 11b bacon lb pork spare turkey pies Unit lbs pork butt lbs minced beef lb pork sausage lb bologna lb wieners lbs minute steaks lb pork steak lb bacon no lb boneless beef stew 20 oz pkg fish sticks Laks peas lb corn Approxims My 22 for Wscleliver in Ori in eyerydoysca Thursdays and Girovanhiirst on 10 days of different meals for $615 lbs frozen apples Over 15 lbs fine freon mo for sass out No or lbs man pork shoulder in lbs brIlIlBK ribs lb minute steaks lb minced beef lb bologna lb pork sausage 1b winners lb bacon lpkg frozen peas ribs lb frozen corn lbs frozen strawberries No roast to lb pork chops lb minced beef Approximately 11 lbs flue for 95 Unit No cleaned chicken lb winnersC 11b minute steaks lb pork sausage 11 lbs pork sparerlbs lb pork liver 1lb hemp Vslb cooked ham lb haddock fillets lbs finefrozcn fend $995 on our lb frozen corn liiibs fine froze foods for $595 our on rowninnnrvun rLEose nnpwnn ro mum