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Theesdsy, Scnesry 23, 1964 7 THE OSHAWA TIMES, All Sections Stock Market Close Ahead TORONTO (CP) -- All sec- dons of the stock market closed thead Wednesday for the ime in several days but volume was light without the backing of speculative activity. The industrial index rose .42 to 142.15 and the exchange in- fex 40 to 132.91 on the day. Western oils advanced .52 to 4.07, golds .17 to 133.86 and dase metals .13 to 61.30. : " Po oped for the day was compared with 4,802 ,000 Tuesday. Papers, steels, liquors and fi- nancial issues gave the indus- board the necessary back- ig. Bathurst A was up one point although only 25 shares changed hands, Fraser Companies % gained and B.C, Forest and Abitibi % each. Algoma rose %, Dominion Foundries and Steel 14 and Steel Company of Canada \% in steels. On the financial front, Huron and. Erie moved ahead one point to 70, Canada Permanent Mortgage % and Investors Syn- dicate A %, while Distillers- Seagrams and Walker-Gooder- ham both gained 4% among li- quor stocks. Chartered banks softened, Im- p-rial Bank of Commerce down a and Montreal and Nova Sco- tia % each. Royal pulled up %. International Nickel advanced % and Hudson Bay Mining % Brunswick Mining and Smelting gained grounc. in juniors. The volume among specula- tives was the lightest for some time. Consolidated Sannorm was the heavy trader with more than 200,000 shares and a gain of 1% cents to 15% cents. Chimo and Consolidated Mogul both moved ahead. Canadian Delhi jumped 35 cents to $6.50 among Junior western oils and United Oils rose five cents to 1.85 on more than 100,000 shares in specula- tive oils, Oil Industry Plumbs For Investment OTTAWA (CP)--It is urgent that more investment be made in the ge a jan petroleum in- are going to be met, the royal commission on taxation was told Wednesday. ~ Any suggestions that Canada enjoys unlimited oil supplies must be discounted, said Charles Hay, board chairman of the Canadian Petroleum: Asso- ciation. "The estimated demand for crude oil, coupled with the. pres- ent rate of discoveries shows that by 1970 the ability of the industry to produce market re- quirements will be used near to capacity and proven reserves will be no more than adequate for 12 or 13 years... . The association, representing the majority of Canada's petro- leum firms, came to ask the commission to recommend sev- eral taxation .measures that ' would have the effect of mak- ing oil investments more attrac- tive. One recommendation was that the depletion allowances--in lieu of the diminishing supplies of oil--be calculated at 25 per cent of gross income rather than the present 33 1-3 per cent of net income. Elliot Lake Residents Get Pep Talk ELLIOT LAKE, Ont. (CP) Industry Minister Drury said Wednesday the federal govern- ment alone cannot undertake to ensure the survival of Elliot Lake, a uranium community 85 miles east of Sault Ste. Marie. He told 400. persons attending a Chamber of Commerce din- "mer that an effective solution of the district's long-term prob- lems depends on the desire and willingness of the people of the area to achieve a solid econo- mic foundation Ag obvious course of action would be to establish alternate sources of employment to make the district less dependent on the world demapd for uranium, he added. The nuclear industry is an ad- vancing industry 'and the Elliot Lake facilities are a vital part of Canada's capability in the nuclear field, he added. Cholera Epidemic Sweeping Saigon SAIGON, South Viet Nam (Reuters) -- More than 1,000 cases. of cholera were being treated in two Saigon hospitals today as an epidemic was re- ported to be spreading rapidly. 'Official figures of the death toll were not available, but one informed source estimated that they were "in the region of 300." RUE TO WORD The word Sahara comes from a primitive word meaning "wild Ask to See the Apartment Size! NOW my *118 ANNUAL MULTI-MILLION DOLLAR INVENTORY Big 30-Inch Automatic Electric Range With | Rotisserie! | Kotisserie: $ : @ Infinite heat switches and full width fluor- Ne escent light! yy ® Big family-size oven with removable oven door! i sige @ Deluxe Model! Full width storage drawer! = Automatic thermostat controlled broiler! © Easy-matic timer with electric clock and minute-minder! Deluxe Model 24" Automatic Range © Compact model of 30' range shown above! Family-size oven with removable door! a Infinite heat switches . . . Four burners! 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