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22 THE OSHAWA.TIMES, Thursdey, September 24, 1964 é g 3 3 = IN GORDON PLAN Directors Face Prison For Overselling Abroad By DON HANRIGHT companies by applying the new -\overs of the country's financial Minister Gordon Wednesday gave further details of propos- als to prevent foreign take- institutions -- the banks and the insurance, trust and mort- gage loan companies, pro- r it ss I. rf i Be ut 7" =f : i ES i a3 i ef 2 Hy Hin e fy i fu $ 3 H : by all non-residents, and 10 per cent for amy one non-resident corporation or individual alone or in association with others. Under the legislation intro- duced Wednesday these limits would apply to the shares of federally - Mr, Gordon said Tuesday night in announcing the im- pending legislation that another "/bill would be brought in later to make similar provisions for the banks. Only full exemption from Wednesday's legislation would be the company which already has more than 50 per cent of its shares in the hands of any non-resident. It was not imme- diately known how many com- panies are in that position. Existing foreign ownership over the 25 and 10 limits would, per cent of issued shares held earnings to pay a four-per-cent dividend for five straight years, regard- less of whether such a dividend was ever paid. Also revised would be the rules for year-end valuations of stocks held in these compan- insur-|ies' portfolios. They now use -|market values, A Flavoured Wine "SERVE COLD ON JHE ROCKS OR WITH YOUR borrowing limit to the tonsoli-| vides a fine of up to $5,000 or in effect, be frozen at their dated position of any two of|up to a year in jail, or both, |for every director of one of them, Basically, the limit is de-|these institutions signed to protect those who lend|ingly allows the sale of shares present level. who know-|HAS OTHER FEATURES Some other features in the FAVOURITE MIX" LONDON WINEF f money to these institutions, by|to non-residents beyond the pro-|bill introduced Wednesday: trying to ensure that their as-|posed limits. The power of the insurance, \~~~ GW aw jaws <A NS ane =" (ells SUITS ~~ Hand Crafted by Laps Whi quality. Stitch by stitch «+. these Lu by tailoring craftsmen. 7 FE A Gold Needle suit possesses that unmistakable oir of distinguished x » MEN'S WEAR LTD Progress Brand Crornes magnificent sults are "hand built" "The House of Style. For Men & Boys" 74 SIMCOE NORTH 723-3611 Open Fri, till 9 P.M. W7F--VAYYF* bir \Mae- Hp. Ms ¢. Wp Nm la yp Dy Sa 4m Make BOLAHOOD"S Your... We Stock ... REMINGTON BROWNING SPANISH DOUBLE WINCHESTER COOEY MOSSBERG and other names in rifles, SHELL VESTS MINER FOOTWEAR CLAY BIRDS Also... INSULATED HUNTING COATS and BOOTS HUNTING CAPS and INSULATED UNDERWEAR GREB INSULATED HUNTING BOOTS CLEANING KITS (12, 16 and 20 gauge) . + « and all your other hunting necessities! . SPORTSHAVEN 61 KING ST. E. BOLAHOOD'S 723-2711 ' HUNTING LICENSES AND REGULATIONS NOW AVAILABLE Hates UARTERS ) HEA Oocsise "END WASHDAY DRUDGERY FOREVER!" , Yes, you can... and here's how.!. Someone has finally thought about the housewife and those loads of wash. (This machine does 24 Ibs. in 30 minutes), Hoover has produc- ed a new miracle machine that almost makes it fun, No wonder it's the most talked about appliance in Canada today.! GET IMMEDIATE HOME DELIVERY OF THE NEW nOOW incranam Electric KITCHEN Clock 88: With @ Purchase of $49.95 or More Colour keyed, shatter with big, cosy il ke Dryer The most talked about new appliance in Canada today ! These are the Facts ! ABOUT THE IDEA... HOOVER combined new pulsotor principle of washing ection with a completely new concept of the. spin-dry methods and combined them into one compact, powerful unit thot offers faster, more efficient ond service-free operation at less cost and in less space than ony other wosher-dryer combination, It has been market-tested and thoroughly proved by Hoover and it's backed b their full guorontee ond worronty. FACTORY SERVICE FOR ONE FULL YEAR. ABOUT THE WASHER... Moster control panel activates washing cycle. Shuts off outomatically. Operates washer or spin-dryer, * Exclusive Pulsator Principle Not on agitator or tumbler, but a smooth, contoured pulsotor that turns ot a fantastic 545 rpm. * Criss-Cross Cleaning Action Pulsator sends water and suds through the clothes and propels them through the water, Safely removes dirt faster than anyother cleaning action, * Upto 25% More Useable Tub Space No agitator or post taking up room. Entire tub is free for washing. action, You can actually wash @ shag rug or o full size blanket. or bedspread. * Smooth Stainless Steel Tub Won't rust, corrode or leak * Filter Hose... Automatic Pump Fill it from the top through filler hose provided, Fast pump empties tub completely in minutes, ABOUT THE SPIN DRYER . * 'Jets Water Out of Your Clothes Spin basket revolves ot the rate of 1900. rpm, * Rinse Right in the Dryer No messy hauling from one tub' to another, Spin be the suds and soapy water, add water through the iller sink, to iron. and pump out the rinse water into the ir clothes come out clean, rinsed and ready ° : : Exclusive Money-Seving Suds Saver Spins water and suds right out of your wash, Returns the suds and woter to the washer. No waste of water, soop or time. * Has Automatic Pump Pump works to draw woter oway as it Is spun from the wash. ABOUT BOTH UNITS... * Giant Size Performance Use it right in the kitchen or laundry area, No special plumbing of installotion required. * Vibrationless -- Whisper Quiet Silent efficient compact * Saves Water -- Saves Soap Uses less water for cycle and returns soap and suds back into the washer ofter spin-drying . : Fully Portable -- Weighs Only 100 Ibs, Rolls easily on rubber casters. Roll it to a storage oreo or leave it in the kitchen or laundry, * Saves on Repairs and Service No geor box or transmission to couse trouble. Ne ¢gostly repoirs, no oil leaks, Virtuglly trouble free. Even the pump has hoard rubber impeller so there is no charice of rust or corrosion. You Can See , Washes and dries 24 Ibs. of clothes in 30 minutes YOU'LL SAY IT'S A WASHDAY MIRACLE Thousands of Canadian housewives have HERE'S WHY J seen this machine demonstrated -- and they could hardly believe their eyes. They said it was almost o miracle -- a system so fantastic that it has swept Canada like wildfire -- and this not the first. It's been time-tested in the United States and Europe and this dynamic new idea has thoroughly proved itself in millions of homes. It's new . . .. but not radical -- and it is the most daring design idea in washers since the copper tub. Here's what women like about it: ITS' SPEED: as little as a three minute cycle from tub to ironing board. ITS' CONVENIENCE: rolls right up to your kitchen sink. Rinse right in the spin basket. No need to remove clothes until they are completely finished. ITS' SIZE: compact, easy to move on casters. Special top closes to form extra counter. ITS' CLEANING POWER: Criss-cross cleaning action fascinated most women because it forces water through the clothes while they tumble up, under and around in the stainless steel tub. ITS' HOOVER NAME: guarantee of quality, efficiency and most of all SATISFACTION! -- Besides, it's fun, Bring your husband and come in to take a look, End Washday Drudgery . 9 9" Forever... You Can 11.50 a month . . . NO MONEY DOWN for as little as' FURNITURE 125-3519 It Demonstrated Today