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1 THE OSHAWA TIMES, S cicstey, April 11, 1962 Substantial | Fund Volume Use Vowed OTTAWA (CP) -- The gov- ernment's determination to use "a substantial volume of funds" to prevent sudden changes in} the Canadian dollar's exchange value was voiced tonight by Fi-| nance Minister Fleming. He also indicated, in his bud- get speech to the Commons, | that prospect aren't bright for) any move to peg the dollar at a fixed exchange rate. The International Monetary) Fund, at its last meeting, again expressed hope that Canada "might find it practicable" to; peg the rate, Mr. Fleming said. But the IMF "has not been! disposed to press us into any) hasty action which might prove! to be premature or impossible to maintain." Mr. Fleming made his state- ment on the government's ex- change rate policy against the background of recent develop- ments which have seen foreign exchange reserves, held in the, exchange fund, drop by $401,- 200,000 in five months to $1,- 709,400,000 March 31. SELLS U.S. DOLLARS The government has_ been selling U.S. dollars from the fund to moderate downward! pressures on the Canadian dol-) lar--now worth 95% cents in U.S. funds. "The government has not hes- itated, and will not hesitate in the future, to deploy a substan- tial volume of funds, on one side of the market or the other, in order to prevent sudden or erratic movements in our ex- change rate,"' he said. Mr. Fleming noted that the exchange fund made "substan- tial purchases" of U.S. dollars last fall as well as substantial sales this year. "There may well be similar movements in the future; from time to time our cumulative purchases will no doubt sub- stantially exceed our cumula- tive sales, and vice versa." Ever since a post-war at- tempt to peg the dollar's rate had been abandoned in 1950, the exchange fund had operated to "restrain and smooth out" rapid movements in the dollar value. It had never been used aggressively to move the ex- change rate against market forces, Mr. Fleming said his policy statement in his last budget June 20 had been misinter- preted in some quarters to mean Canada was embarking on an aggressive policy to drive the exchange rate down. (In the June budget he said it might be appropriate for the Canadian dollar to move to "a significant discount' and_ it would be government policy to} facilitate such a movement. Ac- cordingly, the exchange fund would be prepared, when nec- essary, to buy _ substantial amounts of U.S. dollars on the exchange market.) Mr.; Fleming said he ex- plained last year that the "es- sential means" of reducing the exchange value was through re- ducing upward pressures ex- erted by inflows of certain types of foreign capital. The dollar's exchange value dropped after the June budget "as a result of the removal of excessive pressures." At the same time, the Cana- dian cost of living had re- mained '"'remarkably stable." Legion Ladies | Hold Meeting At New Hall By CHARLES H. REESOR PORT PERRY -- The ladies' of the Royal Canadian Le- gion, Branch 419, Port Perry, held their first meeting in the new Legion Hall recently. One new member was. ini- tiated. It was moved that donations be sent to the Salvation Army Red Shield Campaign and to the Port Perry Floodlight commit- tee. The matter of purchasing chairs and other equipment was left over to the next meeting. A kitchen shower will be held at the next meeting. A_ kitchen shower will be held at the next meeting. Each member was re- quested to take a tea towel. UNIFORMS FUR PROFESSIONAL WOMEN We have @ Uniform Registered @ White Cross , @ White Sister Troined salesladies for personal service. Comfortoble fitting rooms, New styles every month, hoose from the lorgest selection in / Oshawa ot WARD'S 31 SIMCOE ST. S.et Athol St.) With Coup. & Pur. Any One ALUMINUM LAWN CHAISETTE C1 Coup. Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 1'4 Fi. Oz. Bottle BAN LOTION DEODORANT C4 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 32-01. Bottle INSTANT SUDS FOR DISHES DEBBIE C8 Coupon Exp. Apr. 18 With Coupon & Purchase One King Size Package SUPER FAB C11 Coupon Exp. Apr. 18 With Coupon & Purchase One 6.3 Fi, Oz. Bt, HAND LOTION NOXZEMA C14 Coupon Exp. Apr..18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 24 Fi, Oz. Jar AYLMER RASPBERRY JAM C26 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 9-oz. Jar E. D. SMITH. PURE BLACK CURRANT JAM C22 Coupon Exp. Apr. 18 With Coupon & Purchase One 10-0z, Pkg. GENERAL MILLS COUNTRY CORN FLAKES C30 Coupon Exp. Apr. 18 With Coupon & Purchase 8-oz, Pkg. WESTON'S TAVERNE APPETIZERS C38 Coupon Exp. Apr. 18 With Coupon & Purchase 1-lb, Tin INSTANT TODDY C45 Coupon Exp. Apr, 18 With Coupon & Purchase Two 8-or, Pkgs. 12 Portion -- Plain' or Assorted -- SWISS Gruyere Cheese C52 Coupon Exp. Apr. 18 With Coupon & Purchase TWO HEADS LETTUCE C61 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 1-ib. Box KAMBLY CONTINENTAL CHOCOLATE C2 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 10-07. Cello Pkg. TILBEST SALTED MIXED NUTS C5 Coupon Exp. Apr, 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 24 Fi. Oz. PI. Bftl, LIQUID DETERGENT GENTLE FELS C9 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase Two 16-07. Packages SPAGHETTI OR ELBOW MACARONI ROMI C12 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase Any One Pair BEAUTY SHEER STRETCH NYLONS C15 Coupon Exp. Apr, 18 EXTRA LUCKY GREEN STAMPS With Coupoa & Purchase One Giant Tube COLGATE STANNOUS FLUORIDE TOOTH PASTE C35 Coupon: Exp. Apr, 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 12 Fi. Oz. Bt. MINT or PLAIN PHILLIPS MILK OF MAGNESIA C23 Coupon Exp. Apr. 18 With Coupon & Purchase One Package of 12 REGULAR MODBESS Coupon Exp. Apr 18 With Coupon & Purchase 8-02. Pkg. WESTON'S Custard Creams C39 Coupon Exp. Apr 18 With Coupen & Purchase 24-02. Tin DINTY MOORE BEEF STEW C46 Coupon Exp, Apr. 18 eee With Coupon & Purchase Three 15-oz, Tins KEN-L RATION DOG FOOD C53 Coupon Exp. Apr. 18 With Coupon & Purchase Twe Cello Pkgs. FRESH SPINACH C62 Coupon Exp. Apr, 18 | EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 3-ib. Package BORDEN'S SUPER STARLAC C3 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase Two 10-oz. Packages RED L Frozen Dinners C6 Coupon Exp. Apr. 18 RA LUCKY GREEN STAMPS With Coupon & Purchase One 5% Fi. Ox. Bt, SILVIKRIN "SHAMPOO .... C10 Coupon Exp. Apr, 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase Any One Hard - Medium - Soft PEPSODENT TOOTH BRUSH C13 Coupon Exp. Apr. 18 With Coupon & Purchase Two Giant Tubes Super White or Fluoride TOOTH PASTE C16 Coupon Exp. Apr. 18 With Coupon & Purchase Two 15-02. Tins Deep Browned in Tomato Sauce LIBBY'S BEANS C17 Coupon Exp, Apr. 18 With Coupon & Purchase One 1-Ib. Ctn. SASCO CREAMED HONEY C24 Coupon Exp. Apr. 18 With Coupon & Purchase One 9 Fi, Ox, Bt, ACE OVEN-KLEEN C32 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase 10-02. Cello Pkg, WESTON'S CHOCOLATE TABLE FINGERS C40 Coupon Exp, Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase 32 FI. Oz. Bottle LIQUID CLEANER LESTOIL C47 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase Two 8-or. Pkgs. PLAIN or PIMENTO Chateau Cheese C54 Coupon Exp. Apr. 18 With Coupon & Purchase One 5S-lb. Poly Bag SPY APPLES C63 Coupon Exp. Apr. 18 LUCKY GREEN EXTRA LUCKY GREEN STAMPS With Coupon & Purchase 12-01. Pkg. SHOPSY'S SLICED BOLOGNA C58 Coupon Exp. Apr. 18 With Coupon & Purchase One 64 Fi. Oz. Jug LINCOLN ORANGE DRINK C18 Coupon Exp. Apr. 18 With Coupon & Purchase One 9 Fi. Oz. Bftl, LAZENBY'S CHEF SAUCE C25 Coupon Exp. Apr. 18 With Coupon & Purchase 3 Reg. Bars Banded ZEST DEODORANT BEAUTY SOAP C33 Coupon Exp. Apr. 18 With Coupon & Purchase 7-02, MILK CHOCOLATE DEVON BAR C41 Coupon Exp. Apr 18 With Coupon & Purchase 7-0z, Cello Pkg, HOSTESS CANDY Jordan Almonds C48 Coupon Exp. Apr. 18 With Coupon & Purchase One Pkg. CLARK'S Spaghetti Dinner C55 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 64 FI. Ox. Jug LINCOLN GRAPE DRINK C19 Coupon Exp. Apr. 18 With Coupon & Purchase One 18-01. Pkg. WHEAT CHEX or One 9-oz, Pkg. RICE CHEX C27 Coupon Exp. Apr. 18 With Coupon & Purchase One 20 Fi. Oz. Tin FANCY BARTLETT HALVES AYLMER PEARS C34 Coupon Exp. Apr. 18 With Coupon & Purchase 5-01. Cello Pkg. JACK'S CHEESE TWISTS C42 Coupon Exp. Apr. 18 With Coupon & Purchase T-lb, Pkg. MAZOLA COLOUR BAG MARGARINE C49 Coupon Exp. Apr. 18 With Coupon & Purchase 60's Pkg. TENDER LEAF TEA BAGS C56 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase Two 11 Fi. Oz. Btls. &. D. SMITH KETCHUP 20 Coupon Exp. Apr. 18 With Coupon & Purchase Two 1§ Fi, Oz. Tins FANCY CREAM STYLE Del Monte Corn C28 Coupon Exp. Apr. 18 With Coupon & Purchase 32 Fi. Ox. Bottle OLD DUTCH BLEACH C36 Coupon Exp. Apr. 18 With Coupon & Purchase 101-02. Pkg. GENERAL MILLS CHEERIOS C43 Coupon Exp. Apr. 18 With Coupon & Purchase Two 6 Fi. Oz. Tins TREESWEET LEMON JUICE C50 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase 4-01. Jar VASELINE C57 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS ) ' With Coupon & Purchase lb. Pkg. PENNYWISE CHOPPED Beef Steakettes C59 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 24-0z. Jar MERRIE ENGLAND Strawberry Jam C21 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase One 16 Fi, Oz. Jar SWEET MIXED Grimsby Pickles C29 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase 8 Fi. Oz. Bottle Milanis Thousand Island DRESSING C37 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase 20 FI. Oz. Tin WETHEY'S CHERRY PIE FILLING C44 Coupon Exp. Apr. 18 EXTRA LUCKY GREEN STAMPS With Coupon & Purchase lib, Pkg. McC ORMICK'S FIG BARS C51 Coupon Exp. Apr. 18 With Coupon & Purchase ONE DOZEN FRESH LEMONS C60 Coupon Exp. Apr. 18