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" Spa ae * * THE OSHAWA TIMES, Wednesdoy, Mey 12, 1965 ' CDNPA PREXY = Richard A. Graybiel, gen- eral manager of Windsor re Star, has. been elected 1965 § president of the Canadian Daily Newspaper Publishers : Association. He succeeds W. J. Campbell of Toronto Star. 4 (CP. Photo) Bankers Will 'Try To Alter 'Banking Act © TORONTO (CP) -- The pres- 'ident of the Canadian Bankers @Association said Monday Cana- ian bankers will try to have "changes made in the proposed wvevision of the Bank Act before 'the federal government passes the bill S. T. Paton, who is also gen- eral manager of the Toronto- «Dominion Bank, said in an in- terview the question of a lower "reserve ratio will be raised when bankers make representa- wtions in Ottawa during discus- sion of the Bank Act revision. Mr. Paton was referring to Canadian banks that would like to have one cash ratio for de- mand deposits and another, dower ratio for their longer- fterm obligations as recom- igmended by the Porter royal commission on banking and fi- nance The commission had proposed 'an eight-per-cent ratio for time jkdeposits of from seven days to ("pne year. The report favored no ydleposits of from seven days to pone year. The report favored no} "Specific reserve requirements 'for liabilities with a longer "term. Cash reserve ratio is the pro- portion of banks assets that emust be kept in the form of fash or deposits with the Bank 'of Canada, a system that facil- *itates monetary control by the central bank. | ™ The commission's proposal ewas rejected last week by Fi- nance Minister Walter Gordon in his proposed Bank Act on "the ground that there is not "sufficient difference in the wtypes of deposits held by in- edividual private banks to jus- stify the use of a complicated dual-ratio system. 'Voice' Lies :Rebels Say .. DETROIT (AP) -- Reporter Allan Blanchard of the. Detroit "News says in a dispatch from Santo Domingo that Dominican Republic rebels charge the Voice of America with "telling lies" about.events. within the rebel zone In a paranethetical comment Blanchard says: "I agree; so aio the other correspondents." Blanchard did not elaborate on this point In Washington, Herbert Mc- Gushin, United States Informa- tion Agency spokesman, said: *The Voice of America is. tell- dng the truth and that is all there is to it. Mr. Blanchard fean disagree if he wishes." » Blanchard's story quotes reb- els as telling reporters the reb- els were "ready" if any at- fem were made by U.S. or ominican forces to move into the city. } & "We will die before we give jn." Blanchard says one man feclared. . Blanchard's dispatch adds: * "Paradoxically, the rebels #till are not anti - American, gtill hope that.the United States Will support the return to con- Stitutional government that they want." Russia Plans New Man-Shot * MOSCOW (AP)--A Soviet cos- thonaut said Monday that Rus- gian scientists are preparing a re advanced manned space t with an all-new capsule and space mission. Writing in the current issue of the magazine Aviation and Cos- monautics, the cosmonaut said: "*We are again preparing for the next flight, studying the task and learning. the design of the flew space ship--an original and complicated creation of human thought . everything is new and that means interesting and énchanting."' * Otherwise, he gave no elabor- ation of the new program, The cosmonaut, whose name was not given, identified him- MEN'S KNITTED "JAC" SHIRTS Combed. 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