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THE OSHAWA TIMES, Wednesday, July 6, 1960 19 BUSINESS SPOTLIGHT Case Against High Profits . By FORBES RHUDE Canadian Press Business Editor The case against companies fi-|the nancing expansion from retained earnings persuasive when taken by itself, of However, as in most things, there are two sides to the argu-|toba ment Eric W, Kierans, president of the Montreal Stock Exchange, presented the case against the practice in a recent address. He said, in brief, that com- panies should pay out most of their profit to shareholders, or else reduce prices. When expan- sion is needed, he stated, they should get -the money by selling common stocks or bonds to the public, i His address wasn't interpreted as minimizing need for ordinary prudence -- the retention of suf-|for expansion from the 3 [ficient earnings to maintain a| Bell Telephone Company of good working « capital position, Canada 14d, for example, af and to provide against a rainy ally raises large sums from the day, But he apparently feels that public, Before its last rate in. many companies go too far be-| crease in late 1958 it was paying yond these needs, out Hhiont | A 0 prutl to Share, hold R act, at one SHOULD PAY HAL: its profit was falling below divi- BIRTHS COSTO -- George and Camille hy 44 Sheehan) are happy to announce the 2 Canadian Press birth of their son. 7 Ibs. 6 ozs, on Friday, Fro 1960, at St. Joseph's Quotations in cents unless marked $, Hospital, Londém, Ontario, 2---0dd Jot; xd -- Ex-Dividend; xr--Ex- : 4 rir xw--Ex-Warrants, MeINNIS -- Ray and Noreen are y "the bith INDUSTRIALS Today's Stock Market Listings on Toronto Exchange Siock Sales High Low 11 a.m, Ch'ge / 170 Stock Sales High Low 11 a.m. Ch'ge Meds! [ad Stock Sales High Low 11 a.m. Ch'ge QN Gas 20 7% Th Th + % 20 $8 18 18 ~1 Roe AV Can 300 3475 475 475 Roe AV 5%, 9 #70 70 70 Toronto Stock Exchange~July © By The Stock Sales High Low 11 8.m.Ch'ge Corby B 25 816% 16% 16% Crain RL 100 $19% 19% 19% -- % Creativ Tel 2825 $13% 13% 13% Crush Int 100 $7% 7 28% 8% § § S115 11% 11% » 150 3 48 1» = £3 --- 866% 66% 66% + % 300 $17% 17% 17% -- » Selkirk A Wo 0° 420" 80° 435 + 4 54 woe 26 Ww Ye 10% 10% 10% 28 28 28 +30 -1 a ia Elen, Sexedes SSPE IS sl a Bao 94 happy to announce daughter, Marlene Noreen, 8 ibs, 8 o7s., r Edward. Special thanks to Dr. Cuddy. 823% 2% 20 23 57% 51% of their on Wednesday, June 29th 1960, at the Net Oshawa General Hospital. A sister fo Sales High Low 11 a.m. OW 5 MeGILLIS --~ Mr, and Mrs, W. Me *s Gillis (nee Fern Godfrey) wish to an- Ea. ¥ Bod : - = = S pounce the arrival of their son William Harold on Monday July 4, 1960, at the Oshawa General Hospital, STRONG ~--Harold and Audrey (nee Cameron) wish to announce the arrival of their daughter, 7 Ibs, 14 ozs, on Sunday, July 3, 1960, at the Oshawa General Hospital. A sister for Arlene, Many thanks to Dr, Ross. DEATHS FERGUSON ~ Entered into rest in the Oshawa General Hospital, on Tues- day, July 5 1960, Norman Ferguson, beloved husband of Annie Mae Foshay, BCE 4% pr and father of Mrs. Harold Ling BCE 5% pr (Thelma) Newcastle, Mrs, Jack Mann BC Pow (Mona) Oshawa, Thornton Ferguson, BC Phone Trenton, in his 71st year, Resting at Burns xd the Armstrong Funeral Home Osh- Burrard A awa, with memorial service in the GC chapel on Friday, July 8, 3 pm, In- terment Mount Lawn Cemetery, Oshawa, = F 2 a wails SIS 53 FE 88 was Yan Can Se = FESReinalicliast J = Advocate I = gues Busunglve, Anacon A Arcadia Atl C Cop Aulaque Bell Phone Bowater pr Bowater Brazil BA 0il 220 unor H Smith pr 25 : Bankfield Imp Invest A 25 a pa a x Yess ssteatunisbunustbetaciitn: Sang Curb Anglo-Nfid CD Sug CG Inv 50 C Paper 125 840 Dupont O Paper 2 8 Price Br z5 Zeller's 2 16% 16% 16% "NN I oo 0 0 26 206 236 61 61 61 850 850 #50 47% 46% 46% + 37 117 630 630 40 33 50 275 215 27% 46% 46 46% 5 716 7115 a BN SFERF = Cadamet Camp Chib Chib-Kay C Discovery C Halliwell 2400 C Marben 13400 Con M 8 223 C Mosher 900 Con Negus 000 Con Sud Coulee Daering D'Aragon D'Eldons Denison, East Sull Elder 00 108 108 Tombill Fureka U Asbestos ¥alcon 2 Un Keno Frobisher 5 181 181 Un Fort Geco Mines 17% 17% Upp Can 14 14 Ventures 70 710 ~10 28 2 +1 Me Wh --~ % Bis Bis -- % - 30 0 -2 100 111 +41 WM +H Inlantl Gas Inter PL Inv Syn A Jefferson Jock C pr Jock wis Kelly D A Lob €0 A Lob Co B ll - GC GP Drill GS Wares GL Paper GL Power GW Coal A Burns xd Burrard A Cal Pow Can Cem pr C Safe 4 pr Cdn Brew 303 Cdn Célan 100 C Collieries 1015 C Colli pr 25 C Curt W 100 140 C Fairbks A 90 2 120 Bailey § A 400 200 2000 240 IRWIN ~ Suddenly at the family residence, 49 Quebec Street on Tues day, July 5, 1960, Schofield Vernon Irwin, dearly beloves usband of Hilda Luke and loving fatfer of John. The late Mr. Irwin is resting at McIntosh Anderson Funeral Home. Service in the Chapel on Friday, July 8 at 2 p.m, Interment Union Cemetery, Stanleigh Steep R Sunburst Teck-H Temag L C Oil Lds C8 Oil wig 1100 750° 5600 230 3050 1495 700 800 1500 3100 30 156 180 Ki] 20 Cent Del Nat Drug 14 9% Com Pete Nia Wire B 200 1 C Dragon NO NGas 225 Dev-Pal NQ Pow 1 pr § Dome Pete Nor Phone 200 Duvex NW Util pr 55 Dynamie Overland pr 100 Page-Hers 115 700 $7% 60 Pbina 1000 85 590 590 590 2% 2% 22% 95 9 $23% 23% 23% 25 2 2 One industrialist, asked for his|dend requirements, 3 18 opinion of Mr, Kierans' address, However, although Bell 0 - said: as a prime example of ( "If a company earns, say, $3 pany getting along with a share, 1 don't like to see it pay| tained earnings, it was shareholders only about 80 cents. | about the situation of a f However, $1.50 would be aboutiago, and felt its acen right--half for the shareholders, retained earnings were half for retained earnings." for a company its size, Mr, Kierans -- judging by the tenor of his speech -- would go considerably further than that, One of his arguments was that, when a company retains enough ol its profit to finance future expansion, it does not subject its expansion plans to the judgment sooth of the investment market-place, BE Ea Tr a ithe To this, one young executive bling when $, talk? replied: i (hues on "In many cases 1 would rather |powd take the judgment of ap experi. enced company than that of the gous market-place, Some of our big- gest developments have come LOCKE ~ In Treharris, South Wales, on Tuésday, July 4, 1960, Annie E, Tilley beloved wife of the late Thomas CIL Locke, mother of Thomas, Bryn, Glyn Cdn Ind Gas and Mrs, T. Davis (Ann), all of Wales,| Can Of Gordon and Mrs, G. Bull (Lily) of CPR Oshawa. Funeral services in Treharris, Thursday, July 7, 1960, . GERROW FUNERAL CHAPEL Kindness beyond price, yet within reach of all, RA 8-6226 390 KING STREET WEST § 100 150 290 2000 95 4500 A 125 225 p 105 100 125 25 Ld Young HG ws Sales to 11 a.m.: 455,000, it Int Nickel Waite Jacobus Jonsmith H ] Cdn Wall CWN GAS Coekhi Con Gas 325 Copp Clark 25 Home Oil B HB Oil G Marigold 1100 Pow Corp Jai + 500 + 2120 + + Pres Elect 3 is i 3 E & 2 H H) J 53 MILLION RESEARCH TOOL. New Test Reactor For Uranium Rods into steam to|also is surrounded by a concrete shielding 18 Inches thick to pre- vent the escape of radiation, The graphite reflector contains 1,277 blocks of this material, | They were manufactured in Brit to extreme How To Hold FALSE TEETH More Firmly in Place LOCKE'S FLORIST Funeral arrangements and floral requirements for all occasions OSHAWA SHOPPING CENTRE 24 HOUR PHONE SERVICE RA 8-6555 CHALK RIVER, Ont, (CP)--Al|ordinary water $3,000,000 research tool contain-|drive turbines hooked to electric ing enough graphite for 1,000,000,-| generators, $000 lead pencils is expected to| pr, David W, Hone of the re- " give Canadian scientists valuable|aotor physics branch at Chalk information in the development River said in an interview that of economic atomic power plants, the ZED.2 reactor will permit/ain and machined The tool is a new low-power nu-| scientists to predict the behavior| tolerances. clear reactor soon to be used at of fuel rods in a large power| Each block was wrapped ir this Canadian atomic energy pro-| plant. plastic and packed in a wooden ject 130 miles northwest of Ot-| 'we'll be able to test in ZED-2| box for shipment to Chalk River, tawa, Construction of the ma-|{ ~ type of fuel rods we're plan-|Only one of the blocks was chine, known by the code name| ning to use in the Kincardine| cracked on arrival and a replace. "wea 7ZED-2, has been completed and plant," ment was flown from Britain, { tests are being conducted prepar- ALUMINUM TANK Painstaking care was taken Tn » OSHAWA MONUMENT COMPANY SPECIALIZING IN Monuments, Markers Memorials, Cornerstones, Statutory of all types 1435 KING ST, E ' Ph, RA 8-3111 or RA 8-8876 The New Business Phenomenon ! Pools That Everyone CARD OF THANKS FICE -- 1 wish to thank all my friends and relatives for their many visits cards and flowers and gifts I received during my stay in the Oshawa General Hospital. Many thanks to the hurses on 3C for their kindness; also | = Dr. Morris and Dr, Stanley. ~Miss Elsie Fice, | McGARRY -- We wish to expre: symp our recent bereavement, CHALK RIVER TEST REACTOR atory to a test run. The reactor, which has a height equal to a six-storey building, will be used to find the best way = to build and arrange the uranium fuel rods to be used in Canada's M first large-scale atomic generat. clear power plants, Construction of the initial wer station at a cost of about $60,000,000 now is in progress on the shore of Lake Huron, nine ~~ ni = Tucker family (Whitby) and the McGarry family, " Please Note Deadlines now in effect for this column: Births, Memoriams, Thanks -- Cards of Japanese Socialists Ask Refuse Treaty TOKYO (Reuters)--The Opposi-| [tion Socialist party Tuesday |r adopted a policy that includes re- fusal to recognize the new United |treaty with countries, ition States - Japanese security treaty and a promise to end the mili tary alliance between the two The Socialists also called for ist China of C Russia. ceived RCAF Surplus Rifle Declared Illegal OTTAWA (CP) -- Government ' legislation making it unlawful for, and the conclusion of a peace Canadians miles north of Kincardine in On- tario's Bruce County, It is ex. pected to be in operation by late 1064. KEY TO EFFICIENCY An expenditure of $3,000,000 on his type of research tool might to possess the .22- appear high to the layman, How- calibre Hornet survival rifle re. A0DE Ef A 9 AM. SAME DAY DEATHS -- 11 AM. SAME DAY DIAL RA 3.3492 WGR-TV Ch TELEVISION LOG CHCH-FV Channel 1l--Hamilton CBLT-TV Channel 6-Toronte WEKBW-IV Channel 7-Buffale WROC-TV Channel 5---Rochester 2---Buffale day night, in principle~in The government proposes that possession of the rifle be pro-|¢hat will be spent on the Douglas hibited because the weapon might | point plant at Kincardine and on WBEN-TV Channel ¢--Buftale| rine. nine the reading--approval or "Canada Limited, the crown e Senate Tues-| oomnany directing Canada's atomic energy program, say it is small in relation to the money| commission of| future atomic generating stations, f its t-| The MARKET PRICES | WEDNESDAY eve, | 1=Family Theatre TORONTO* (CP) -- Churning " cream and butter print prices | a Hpi were reported unchanged today.| 4--Bozo's Cartoon | Story Book TORONTO (CP) ~ Wholesale ~The Big Rascals fruit and vegetable prices were | Bi Hs P.M. reported unchanged from Tues-| E30 PM day. 1=My Friend Filcka 6--Hue! : TORONTO (CP)--Potato prices) i--Feix The Cat were reported unchanged from 6:00 P.M, Tuesday. 11-6--News 7--Early Show The egg market was reported | &-- Western weak with receipts in excess of! I-Highway a a light demand 6--Sea Hunt Country dealers are quoted by | 6:30 P.M, the federal department of agri-|11--Family Theatre culture on Canada grade eggs,| 5-+2News: Weather delivered Toronto, in fibre cases: A 6:45 P.M. Alarge 31; A medium 34; A| >Huniley-Brinkley small 25; B 24; C 20. [11-6-4-2--News Butter prices: Canada, first| 7:00 P.M. grade: Ontario tenderable 63; | §~Tabloid non tenderable 61%-62, in light| 3-- Vikings : 3 ' 4=C trading, western 62% (nominal). tig CHICAGO (AP) -- T ULL 30 (4 -- The grain| 7-News; Weather futures market was steady to! 7:30 P.M. weak in slow opening dealings on! 6--Leave It To Beaver the Board of Trade. | Li Lombardo Wheat was % cent a bushel] asm Trai lower to % higher, July $1.83%;/| 8:00 P.M. corn unchanged to % higher, July 116-RCMP $1,17%-%; oats % higher to %| 7--Take A Good Look lower, July 71'4-%: soybeans Wire 5:0 P.M, to % lower, July $2.13-12.% erLive a Borrowed Life 7..Ozzie and Harriet 4-Drama §2--Price Is Right 9:00 P.M. |11-6-5__Happy 7--The Hawaiian Ey¢ 4--~The Millionaire | 2--Happy 9:30 P.M, Holiday Prank Ends In Death Of Wife BUFFALO, N.Y. (AP)+A 20- year-old father of two children |'s* ve a' secret was charged with second-degree! 3--Tate manslaughter Tuesday after sob | ued P.M, bing out .a story of a holiday 1--Sea Hunt | 52--This Is Your Life plas pat ended with the death| §%-hie hesiry . 10.30 P.M. James C. Batcho was quoted 6A Case For The by police as saying he tossed a| , Courts lighted firecracker under of I=iiterpel Caliag wife's bed. When his wife, Geral-| 5~Man Hunt dine, also 20, awakened, Batcho | 3-FouE Wont Men said, a .22-calibre rifle he Ws{ 11.0 0 00 P.M. rolding - discharged. Weather: Sports Police said Mrs. Batcho was 11:15 PM. shot in the head. They said| =yiaxhouse Batcho told them he didn't know! 11:30 P.M. the safety catch was off. l1--Late Show The couple's two children, a Me ny three-year-old hoy and a year-old| ¢=Theatre girl,' slept through the shooting. THURSDAY 100 AM, 7-- But! M. GRACEFUL GULLS [feo AM The tern, of which several spe-| ~N*3® Hountup cies are native in Canada, iS a 4 captain Kangarco small, graceful member of the 8:30 AM nUMErous | un House types. | 7--About Faces | 52--Queen For A Day 2:30 P.M. 100 AM, 11--Romper Room 5~Ding Dong School 4---Popeye 2-Byline 11--Movie 7--Romper room 8--Burns and Allen 4--Life of Riley 2~Checkers 10:00 A.M, §-3--Dough Ra Mi 4--Red Rowe Show 10:30 A.M, 7--Morning Show §-2-Play Your Hunech 4-On The Go 11:00 AM, 11--Jane Gray Show 5-2--Price Is Right 4-1 Love Lucy 11:30 AM, 11---Bob McLean Show §-2--Concentration 4--December Bride 12:00 NOON 11--~Bugs Bunny and Friends 7--Restless Gus 5:2---Truth or Consequences 4--News: Weather 12:15 P.M, 6--~Matinee 4--Speaker of the House 12:30 P.M, 11-~News 7--Love That Bob 5-2--It Could Be You 4--Search For Tomorrow 12:45 P.M. 11--Movie Matinee 4--Guiding Light P.M. 3---~Maovie 4--Meet The Millers 2~Mid.day matinee 1:30 P.M 7---Divorce Hearing 4--As The World Turns 7~Day In Court 6--Chez Helene 4--Drama Series 11---Movle 7--Gale Storm 4--House Party 5-2 Loretta Young Theatre 3:00 P.M, 7--Beat The Clock 5-2--Dr, Malone 4--The Millionaire 130 . 11-News 7=Who De You Trust 6--Fighting Words 852-From These Roots 4--Verdict Is Yours 7--American Bandstand 6---Millionaire 4--Serials $-~The Thin Man 52-Comedy Theatre 4:30 P.M, 2--Checkers 5--Yancy Derringer 4--Edge of Night THURSDAY EVE, | 5:00 P.M. 14 54 | &Fim 11--Family Theatre 6--Woofer 5~Playhouse 4--Bozo's Cartoon Stor; Book 2--Three Stooges 5:15 P.M, Big Mac Show 5:30 P.M, 7--~Rocky and His thends 6--Roy Rogers 2--Huckleberry Hound 6:00 P.M, 11-6~Metro News 7--Early Show 4_Drama Series 2--Highway Patrol 6:15 P.M, 6--Bob Cummings 6:30 P.M, 11--Family Theatre §-4-2--News; Weather 6:45 P.M, §--Huntley-Brinkley Report S--Leave It To Beaver 4~Topper Series 3-8hotgun Slade 7:15 P.M, T--News: Weather 130 P.M. 7--Black Saddle 6---Nation's Business 5~The Detectives 4--Lippmann on Leader. ship back. 0 t of energy that can |to have this information 'before | possible that the calculations we M ing station as well as other nu-|have made on how the fuel will Dr. Hone"said it's only logical you invest millions in a big power plant," "We want to be as sure as react in a large power reactor are reasonable, When you plan to spend huge sums on big plants it is only common sense to do as much testing as possible on a small scale. Dr, Hone also sald the ZED-2 reactor will be used to test en- riched uranium fuels of the type which would be used in small power plants for the Canadian | taminated the graphite and later te assembly at Chalk River of| the graphite reflector, Workers, changed gloves and coveralls twice a day to ensure that no grease stains, dust or dirt con- impaired its ability to reflect neutrons back into the aluminum tank, | A huge polyethylene cover was erected over th earea where the graphite installation was made, nly filtered air was allowed to enter the working area. CANADIAN FOURTH BROOKWOOD, England (Reut-| ers)--Three British soldiers tied North, The heart of the ZED-2 reac- tor, built by Foster Wheeler Lim. ited of St, Catharines, Ont., is an) point aluminum tank 10 feet in diame- ter and 11 feet high, Uranium fuel rods suspended in the tank in heavy water will produce the nuclear energies which will be used to test fuel rods designed for power reactors, The rifles, sold to dealers by pe extracted from uranium fuel GRAPHITE WALL Less it can be concealed easily and hence the operating costs Crowh Assets Disposal Corpora.) of plants--will depend to a large weighing 70 tons surrounds the ¥|tion after being declared surplus extent on the design and arrange- by the air force, are being called| ment of the fuel rods. Heat pro-|trons necessary in the atomic Graphite two feet thick and tank to reduce the escape of eu- fission process, The graphite wall |duced by the fuel will turn $---Law of the P| 7:45 P.M, 11~The Nation's Business 8-2-Bat Masterson 8:30 P.M, 11-6---Close-up 7-5--The Real McCoys 4--Ringo 2-Producers' Cholee 9:00 P.M, 11-6--Closeup 7--Jeanne Carson Show §-2--Bachelor Father 4--Zane Gray Theatre 9:30 P.M. 11-6--Man From Blackhawk 7--Untouchables 5-2-The Wranglers 4--Ray Milland 10:00 P.M, 11--Meet MoGraw 6--Manhunt 5-~Best of Groucho 4--Variety Show 2-You Bet Your Life 10:15 P.M. «Talking Sport 10:30 P.M. 11-1 Love Lucy 7--San Francisco Beat 6-Toronto Today 5-~Not For Hire 4--Panel Quiz 2..Tombstone Territory 11:00 P.M. 11-7-6:5-4-2---News; Sports 11:15 PM 7--Playhouse §--Viewpoint 2-Sportsreel 11:30 P.M. 11-6--Late Show -- TOMORROW JULY Tth 1.30-4,00 AND 6.00-9.00 p.m. at ST. GREGORY'S AUDITORIUM, SIMCOE ST. N. Our Hospital Blood Bank is Very Short of RH N ve Blood Will those with THIS TYPE make an EXTRA EFFORT to attend and Donate for top score in the aggregate| competition for military marks- men at Bisley Tuesday, One behind was Lieut, C. 0, James of Hamilton, Ont,, with a The Swimmin Ca PHILIP TORRES -- Generel Manager Canadi Flying D score of 99 out of 105, Capt. E, L, Warner of Lennoxville, Que., was 13th with a score of 97, n Afford v] LANCER POOLS (CANADA) LTD,, industry leader end world's largest manufacturer of Structural Fiberglass Swimming Pools, will appoint a select number of pros gressive business men os Franchise Dealers in this oreo. Exclusive Distributorship also available, Loncer supplies the high-priced know-how, material, mere 4 chandising and technical assistance that only 4° National organization con afford In this booming swimming pool industry, Loncer supports you with: high-powered publicity, Public Relations and National's Advertising in Reader's Digest, Look, Sot, Eve, Pos Ha House and Go Advertising Allows once -- FREE Display Booths, Mats, ond TV Commercials, You sell the YEAR-ROUND Loncer Structural Fiberglass Pool--=which meons 12 months' of sales ... @ a dog profit potential! You. are' invited to get oll the facts on a Loncer Franchise which requires @ modest investment. Contact: a Operation : Telephone EM 3.1588 Toronto or h Motel, B ills, MA 3.3373 WHOLESALE TO THE PUBLIC OPE Thurs. till 6 p.m. Fri., till 9 p.m, Sat. till 6 p.m, CHAMPION SPARK PLUGS -- Extra Special, only .......... 9 COLEMAN COOLERS EXTRA SPECIAL Cntanc nae. 321.97 Medium size con. corre. $16.50 raters 311.50 Large size Small size . . BRYLCREEM -- Retail 73¢. Our Price . .. 59 : Black and White ROLL FILM COLEMAN ICE SUBSTITUTE -- Retail 1.49. Our Price REE SA SER 127, 120, 620. 25¢ Guaranteed fresh. Only ..... 8 M.M. MOVIE FILM -- At Oshawa COLEMAN CAMP STOVES -- .. 13.9% 2-burner. Model 4M. Extra Special, only . .. Only .. ve wean PROCTOR STEAM AND DRY IRON-- PERE MOSQUITO HEAD NETS -- At Oshowa Discount House, only 17 ideally placed vents. 12 15 - Retail 16.95. Our Price .. GOVERNMENT APPROVED LIFE JACKETS -- Mae West and other WE styles. Priced from ELECTRIC AUTOMATIC GENERAL TOASTER -- Retail 24.95, Wholesale Price ........ WE NOW HAVE A COMPLETE STOCK OF CHILDREN'S WADING POOLS At Wholesale Prices WESTINGHOUSE ELECTRIC FRYPAN -- With copper top. Complete outfit retail 25.95, 1 8.75 Wholesale . ..... OSHAWA DISCOUNT HOUSE 290 ALBERT STREET (Between Gibb and Olive) RA 8-0311