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22 THE OSHAWA TIMES, Pridey, Apri 30, 1965 DEALERS GET REVERSE OF EXPECTED EASING OF CONDITIONS Labor Tightens Up U.K. Credit Situation | womw:x:;:: By JOSEPH MacSWEEN LONDON (CP) -- The Labor government turned the screw on Britain's already tight credit Thursday -- a shock move that came just as dealers were ex- It was the second tough step in as many days by Prime Minister Wilson's administra- tion.in its battle for financial stability and industrial effic-) ciency. The Bank of England an- nounced it is pulling in £90,000,- 000 ($270,000,000) from 11 clear- ing banks under a "special de- posits" device used for the first and only previous time by a Conservative government in) 960 Use of the deflationary) weapon simply means it will be} that much harder for compan-} jes and individuals to borrow) money from banks at a time of] year when borrowing tends to be brisk. POUND STRONGER | Following the announcement, | share prices were slashed on) the stock market but signifi-| cantly enough, the pound ster-' ling was stronger. One of Wil- son's main aims has been to strengthen sterling in interna: tional dealings. mee Dealers who had been hoping} for a small cut in the bank) rate -- increased to a record! seven per cent from five after Wilson took power last October) --were staggered by the news that credit was to be squeezed tighter still, The news reached dealers at the same time as weekly announcements on the| bank rate. A Bank of England spokes- man said the move was made 'in view of the sharp increase in bank advances last month." Loans have continued rising) despite a letter sent out last) December by Lord Cromer, the gank's president, asking for re-| Study Shows North Watch A Possibility By DAVE McINTOSH OTTAWA (CP) -- Results of a secret 1963-64 project in the Canadian Arctic extending to the North Pole show that it is possible to conduct day - and- night, year - round reconnais- gance of the north. The Defence Research Board, RCAF, transport department, U.S. Army and the University of Michigan co-operated in pro- ject Bold Survey, and the re- sults have just been published in a huge, 819-page report by the university. The main conclusion; 'The ability to obtain an interpret- able picture of the sea ice dur- ing total darkness now makes it possible to conduct sea ice) reconnaissance the year round." The "picture' was obtained by infra-red (heat) sensors car- ried in an RCAF Argus patrol plane which covered--in com- plete darkness -- most of the) Canadian Arctic Archipelago) and a segment of the Arctic Ocean up to the North Pole. PATH SHOWED : Trevor Harwood, chief of the geophysical research section of the Defence Research Board| who participated in the pro-/ ject, said in an interview that) the results won't apply merely to sea ice. For instance, a path trampled down in the snow at Alert on northern Ellesmere Island showed up clearly on the infra- red film, which looks somewhat like the negative of a standard photograph. This means, Mr. Harwood said, that it is possible to de- tect any human activity or dis- turbance on a snow - covered surface such as the wheel or ski marks of an aircraft The survey also covered part of the Gulf of St. Lawrence and some lakes in southern Canada Infra-red film showed clearly icebergs with rings of rela- tively warm water around them caused by the rocking of the *bergs. The film even distin- guished between thin and thick ice. IF YOU ARE THINKING ABOUT LIFE INSURANCE Why Not Call TOM FARQUHARSON SUN LIFE Assurance Company of Canada RESIDENCE: BUSINESS: 668-4371 725-4563 five weeks straint. Bank loans shot up injous challenge to a powerful la-imen's Union. to mid-April. by/bor union since taking office. £98,000,000 ($294,000,000) to £4,-| The decision was announced|pressed by unions in sevreal in-|about 769,000,000 ($14,307,00,). |to go ahead with plans for ajdustries in defiance of govern-|James Callaghan, Chancellor of! variety show, On Wednesday, the govern-|fast "'liner" freight train sery-|ment attempts to put the lid on/the Exchequer, and a finance 4 ment talked tough in anotherjice in the face of opposition byjprices and tie pay increases to'bill envisaging hefty new bus- pecting credit to be eased. direction, It made its first seri-|the 40,000 - member Railway-| productivity. Meanwhile London's financial Wage claims are being|district was grumbling bitterly 'iness taxes, "Wayne and Shuster' Feted As One Of Best In World MONTREU,X S witze rlandjing with programs from 21 other Wayne|countries in the fifth interna- \and Shuster Hour was among|tional contest for the Golden 25 entries that began competi-|Rose of Montreux Award. tion here Thursday for the title) A panel of 28 judges will pick the recent budget ofjof the world's best television|the winner by secret ballot at the end of the 10-day contest. The program, featuring Cana-| The award carries with it a dian comedians Johnny Wayne!prize of 10,000 Swiss francs and Frank Shuster, is compet-|($2,300). | DAY -- WEEK -- MONTH $5.00 PER DAY - sucace cnarcs 725-6553 728-6853 4 4anT EATON'S in OSHAWA | Reg. 69.95! Save 13.95! EATON'S MALL LEVEL DEPT. 229 EATON'S hurhdale COOL TERYLENE-AND-WOOL TWO-TROUSER TROPICAL SUITS Timely savings for men and young men! Our sum- mer-weight two-trouser suit is skilfully fashionec in a smooth, porous blend of Terylene-and-wool . soft, yet rugged--keeps you comfortable, neat looking even in humid weather. Choose from tail- ored or traditional natural shoulder models in two- and three-button styles, and new-season Summer shades of blue, brown, grey and olive green. Sizes 36 to 46 including shorts and talls. SALE, 2-TROUSER SUIT 6.00 PHONE 725-7373 Latest style for Young Men! The Wildcat Boot Dashing, Wild and Unusual with a practical Touch For those of en independent mind, bold new Wildcat boots of featherweight, flexible suede leather. Casually correct for informal wear. Foom- ed rubber soles and heels for added comfort. Houndawg beige, in medium width, sizes 7 to 12 (including ' half-sizes.) Special, 8 4 T Si ec a For Leisure-Wear Anywhere! Men's Pigskin Casuals Treated with Scotchgard Outstanding wearing qualities withstand rough treatment, yet these shoes remain ght and cool on the feet Soft sueded pigskin uppers with Nuron-crepe rubber soles and heels. Stee! shank gives extra arch support. Treated with Scotch. gord stoin-and woter-repellant T e-eyelet tie or slip-on styles, both. with moccasin vamp, Houndowg beige or grey, medium widt 7 to 12 (including half-sizes.) Also « in sizes ailable in smooth block leather, three-eyelet tie style only, _ Special, OO Sino a EATON'S MALL LEVEL, DEPT, 237 PHONE 725.7373 Specially Priced ! "Margate" Wilton-Weave ACRILAN BROADLOOM New and Exclusive with Eaton's ! Colour is the spice of decoration and that's why Eaton's specified this multi-shaded Acrilan broadloom for modern homes. These room-brighteners. are predominantly moss green, gold-colour, poppy, marigold, tortoise shell, charcoal or neptune blue. Be- sides, this is a carpet that will stand the test of time and active wear because it's Acrilan with high resistance to crushing and sit up" on the fibres where you can whisk them away' Also, the densely woven Wilton construc- tion assures shape rentention for years while the cut and uncut pile tends to hide tracking and wear. Order Margate by the lovely yard at Eaton special prices and liven up your decor with a 'Bel non-absorbency so spills and soi carpet loomed to last. "40-95 oereere e $0. V0 .3.:. EATON'S LOWER LEVEL, DEPT. 272 PHONE 725-7373 é Ends Saturday .. . EATON"S TRANS-CANADA SALE STORE HOURS: 9:30 A.M. TO 6 P.M. MONDAY TO SATURDAY. OPEN THURSDAY AND FRIDAY NIGHTS UNTIL 9! RENT-A-CAR RUTHERFORD'S CAR AND TRUCK RENTALS