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reenter er -- ne ermine, en a \ SR urntatre rato ere nape etm RS - 16 THE COHAWA TIMES, Pridey, Mey 24, 1903 REPORT FROM PARLIAMENT Pomp, Ceremony 'As House Opens By MICHAEL STARR, MP The twenty-sixth Parliament was formally opened on Thurs- a A May 16. The Opening was 'ked with pomp and cere- mony as has been the custom inthe past. The Governor-General, who usually opens Parliament on be- half of the was unable to do so, because of illness. In his _ the Chief Justice of Can- gg on as the Administra. Mogg The Speech from the Throne is. written by the members of the Cabinet, and it is here that the legislation and policy is set out by the Government. It is in this Throne Speech that the in- tentions for the Session are set. It is not necessary that all pol- fcies and legislation be em- bodied and many are left out, to" be dealt with later by Par- liament, as the Session pro- gresses. The Speech from the Throne, introduced on Thursday, May 16, proclaimed in the main, that Boards and Commissions would be 'set up to undertake respon- McKinnon Named Bank's Chairman TORONTO (CP)--N. J. Mc- Kinnon, president of the Cana- dian Imperial Bank of Com- merce, Thursday was elected chairman of the board and is succeeded as president by J. P. R. Wadsworth, who has been general manager and a vice- president. Mr. McKinnon continues as chief executive officer. L. S. Mackersy, retiring chairman, will continue a director. H. W. Thomson, formerly joint general manager and vice- president, has been elected vice-chairman of the board. W. M. Currie, formerly dep- aty general manager, becomes Many of oy ot that were promised during the election campaign were left out, and we will be viteling closely to see those promises will be things minimum wage, hours of work, and other measures that were promised were. pet included in the Throne peech. The Leader of the Official Opposition, the Rt. Hon. John G. Diefenbaker, spoke in the de- bate and very carefully review- ed the state of the economy at the time the Liberal Govern- mnt took office on April 22, He pointed out the excellent situa- tion the economy was enjoying and hoped it would continue and that nothing would be done to undermine it. He pointed out that the Gov- More Cargo Handled On Seaway OTTAWA (CP)--The St. Law- rence Seaway between Montreal and sry Pe Ontario handled 1,650,- 000 tons of cargo in April, a 75- per-cent increase over the cor- responding period of 1962, it was announced Thursday. It was the best opening month for cargo traffic since the sea- way and Welland Canal were of- ficially opened for traffic in 1959. The St. Lawrence seaway au- said the April cargo to- tal 1,650,000 tons compare with 938,000 tons in the corre- sponding month of 1962, Ton- nage was 1,230,000 tons in April, 1961, 858,000 tons in 1960 and 451,000 tons in 1959. Bulk cargo accounted for 1,- 475,000 tons and general cargo amounted to 175,000 tons. In the all-Canadian Welland _ NEW YORK (AP)--The stock market has bounced back--and then some--from the crash of 1962. In the year since the "Black Monday" of May 28 a sorely sick market has recovered ro- bust health, Actually, say experts on Wall Street, today's market is much more solid than the one that soared to an all-time peak in late 1961. The market has been nudging that level recently. After hitting its historic 1961 d| high in a frenzy of speculative stock buying, the market slipped for nearly six months and then collapsed with a thud heard around the world. The panicky trading on "Black Monday" and on May 29 and 31 (May 30 was a holiday) was later described by the New York Stock Exchange as '"'the Canal between Lake Ontario and Lake Erie, traffic was up 3.7 per cent to 1,939,999 tons from 1,870,000 tons in 1962. Gen. eral cargo traffic remained sta- ble while bulk cargo was up slightly. ernment's responsibility was not to "get the economy rolling" but rather "to keep it going". It will be interesting to see what the results will be and what effect the Boards and Commissions will have upon the economy of this country. My role in Parliament is one of the Official Opposition, It is to be watchful of the expenses incurred by the Government, the legislation it proposes and introduces. It is also my respon- sibility to be critical (construc- tively) and to make suggestions for new legislation. Tam very grateful for the co- operation of the editor in pub- lishing this column and I hope Price Support For Cheese Increased OTTAWA (CP)--The 25-cent- a-hundredweight price support on milk used for cheddar cheese has been increased to 30 cents a hundredweight, Agriculture Minister Harry Hays said Thursday in the Commons, Mr. Hays, amplifying an an. nouncement made Wednesday, 'eau (SC -- Shefford) that the step will provide "a modest in- centive" to diversion of milk to cheddar production for which domestic and export opportuni. ties had increased. The 25-cent subsidy has been withdrawn on milk used for making skim milk powder and been replaced by a purchase program on skim milk powder. The payment on milk for but- ter and condensed milk has been withdrawn "on the pre- mise that such products should jor require federal subsidiza- tion.' nn Oe Suit ae SAM ROTISH 7 KING ST. EAST From A Lerge Selection of Fine British Woollens Stock Market Healthy One Year After Dive most dramatic market events in more than three decades." The market continued drifting downward, reaching a low of 535.76 on the Dow. Jones indus- trial average June 26. It had been at 611.89 on May 25, 1062, and 734.91 on Dec. 13, 1961. This May 17 it stood at 724.81. The Associated Press 60-stock average has reached an historic high. It was 273.6 on May 17 after having been 240.9 a year earlier. For the next few months the market wallowed with the badly burned smaller investors cling. ing to the. sidelines. But in October the market got a lift when the Russians agreed to remove missiles and bombers from Cuba in compli. ance with U.S. demands. From that point the market mounted an advance that was one of the sharpest and longest in history. WAS NO RECESSION tions were at an all-time high. And the consumers carried the ball with heavy purchases of new cars. "There was @ general feeling that business was getting bet- ter."' High-quality blue chip stocks led the market parade. Oils, motors, utilities and rails were in the vanguard. Harrigan Wins |+«;"« Just By Neck CAMPBELLVILE, Ont. (CP)--Eme from a) driv. prong Thursday iene night's eighth race at Mohawk Race- bow Harrigan went on to a victory in the featured Organville Rotary Club pace, defeated Sharon shoe combuc -- continued| Hickory saben te: ode tolanede, EXCLUSIVE HAIR STYLING IGAWILSONE LOCATIONS Most of the buying in the last quarter of 1963 was done by pro. fessional traders, institutions and the funds. The little fellows continued to be wary of the market, selling more stock than they were buying. There are increasing signs that the public at long last is coming back into the market. Some Wall Streeters see it in increased activity of lower priced stocks. Grimm said the public "'isn't in the' market head-over-heels on borrowed money." quarter of 1962 and the first) ' "We didn't get the widely pre: dicted business recession de. spite the loss of $100,000,000,000 in stock values," said Eldon Grimm, investment analyst for Walston and Co. "Corporate profits reached a record. Total dividend payments by corpora- SHORGAS HEATING & APPLIANCES Industrial and Commercial The established, reliable Ges Dealer in your area. 31 CELINA ST. (Corner of Athol) 728-9441 Pe "Gor | DAY or NIGHT ot North Oshawa GOLF DRIVING RANGE $ #8 Bis ns $ SNACK BAR New bells and oupplied PHONE 725-9018 SIMCOE ST. NORTH TURN LEFT AT SANDALWOOD RESTAURANT said in reply to Gilbert Rond-i, to submit a column each week! while Parliament is in Session. I hope that this report will serve a useful purpose in in- forming the people of Ontario Riding of what is happening in chief general manager. Parliament. 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