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20 THE OSHAWA TIMES, Fridey, October 18, 1963 BUSINESS SPOTLIGHT C Of C Praises Sales Of Wheat VANCOUVER (CP)--The new president of the Canadian Chamber of Commerce says Canada has suddenly turned full circle to where "wheat is the determinant of our prosperity. Says Howard Mitchell of Van- couver: "Do you remember the days when everyone held his breath to see what kind of crop was maturing? How 50,000,000 bush- els meant the difference be- tween a prosperous year and a poor year for the whole coun- try?" Publisher Mitchell is not say- ing that Canada is back in that fix, but in an interview here he emphasized that recent wheat sales are indeed of profound importance, And the importance extends far beyond economics. Mr, Mitchell, who was elected at the annual meeting of the chamber in Quebec City this month, said the Canadian econ- omy has in recent years be- come so diverse crop reports are just absorbed in the general news. WHEAT SALE VITAL Sale of $500,000,000 in wheat and flour to Russia now means Make U.K. Power Board Private Thomson Suggests | Industrial Index Breaks New Area ket, Montreal ahead 5g and Im-' sues, perial Bank of Commerce and,58% and Hayes Steel 1% to/and CPR %. Moore Toronto-Dominion 4% each. Automotive stocks made solid gains, Ford Canada up 4% tojled senior base metals, 190 and Chrysler 2 points: to 103. TORONTO (CP)--The stock! steels were mixed to higher, market took to 'its wings Thurs-| Algoma rising % and day, with the industrial index|were mixed to lower, Abitibi breaking new ground four times/4own 14. during the course of moder- ately heavy trading. Among active individual is- Canada Packers' A Bank issues paced the mar-|jumped 2% to 64% on 50 shares. lCanada Steamship Lines 1% tolForest moved ahead 1% to 23% Corp. 17%, dipped % h. - ' On index, industrials ad- Falconbridge and Geco Mines | vced 1.51 to 650.18, base met- als .71 to 210.79, western oils a Sa oe golds slipped A .62 to 87.30. Volume for the da: papers|idated Morrison was most @€C-|was 9 964,000 shares comprar tive, up 10 cents. to 48.cents On| . itn 9'475'000 Wednesday more than 136,000 sh Wind- Nani ' fall advanced four cents to 59 FLYING STAR cents. : On the foreign market, B.C. Nests With gaining %. In speculative mines, Consol- "chicken war" ger airplane which he flies him- self. Chicken War GATT Panel BRUSSELS (Reuters) -- The/findings would not. be legally ! between Danny Kaye has a six-passen-|United States and the European|"al obligation to follow the pan- Common Market today rested/¢l's advisory opinion." on the nest of compromise. Agreement was reached {o, submit the dispute over Amer: ican imports of frozen poultry)' into the Community to a pane! of the General Agreements for Tariffs and Trade (GATT). Sources close to both parties said that although the panel's the|binding 'they will have a mo- ' The same sources stres: that scores of millions of dollars will be pumped into the econ- omy through the Prairies. "We have the situation of 19,- 000,000 Canadians producing the vital part of the food to sustain two Communist countries whose populations approach 1,400,000,- 000. In our relatively free econ- omy, our production is doing this job." He said the sale calls into question how much of Russia's need is due to drought and how much to lack of encouragement of farmers to grow all they can, as efficiently as they can, through being able to keep the product of their labor. "But this may be the greatest single secret that a delegation of Communists, coming to Can- ada, would discover, If they were to transpose the terms of reward to their own countries, they might produce a great deal of their own food." EXCHANGE REQUIRED Another factor to ponder was the long-term ability of buyers to maintain enough foreign ex- change to pay for the wheat. Only sales in large quantities to the West can guarantee this, he said. "Tf, in the future they have| the physical need for the food, but not the money to pay for it, what do countries like Canada and the U.S. do about it." The key to this problem and the key to economic relations with countries of East and West alike is open discussion, Mr. Mitchell suggested. LONDON (CP) -- Canadian publisher Roy Thomson said Wednesday night he would not mind having a crack at running Britain's publicly-owned elec- tricity board as a private en- terprise. Expounding the "doctrine of enlightened self-interest" at the annual dinner of the Advertis- ing Association, Thomson said: "If somebody had been con- cerned to make a private profit out of the supply of electricity, I doubt if Great Britain would have been obliged to spend so much of last winter shivering in power cuts,... "Tf the government feels like turning this utility back to priv- ate enterprise I would not mind mae @ crack at the job my- self." Thomson said advertising is "under continuous fire from ill- informed critics who have not troubled to discover for them- selves what it is all about." Advertising helped the con- sumer in the long run, he said, and manufacturers would con- trive to exist even if their ad- vertising powers were severely curtailed. It was labor that would suffer. "I imagine I could still get by even if all my newspapers had to look like Pravda, with the adv Missing and its by verbatim reports ches of the party leaders." He said he was surprised the members of the printing trades unions were not more vocal at the recent Labor party confer- ence about proposals for re- stricting advertising. If adopted, he said, they would result in mass unem- ou ga on an unprecedented scale, Auto Production Schedule Higher TORONTO (CP) -- Scheduled motor vehicle production re- ported by the Canadian Auto-| mobile Chamber of Commerce] this week is 11,924 vehicles com- pared with actual production of 11,896 last week. Production was made up of 10,339 cars compared with 10,- 252 last week and 1,585 trucks/ compared with 1,644. Production to date this year is| estimated at 454,362 vehicles| compared with 373,703 in the corresponding period last year --made up of 380,360 cars com- pared with 312,734 and 74,002| trucks compared with 60,969. DIVIDENDS Is your name in Today's Want Ad Section? 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