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'1Z THE OSHAWA TIMES, Monaey, Jury 2, 1von Tax Cut Goes Into Effect On This Week's Payroll The tax cut amounted to 10\the gross national product per cent of the "basic tax," be-|growth rate above the figure of wage - earners this weekend|fore adding afounts collected|seven per cent he forecast be- e the first effects of Fi-lby Ottawa for transfer to the fore tax changes. Finance de- nance Minister Gordon's Apriliprovinces under tax - sharing|partment authorities are ex- JAMES NELSON | OTTAWA (CP) -- Salary and Like J. P. Said, The Market Will Continue To Fluctuate Canadian Press Staff Writer Recent activity on stock mar- kets and analysts' ing views on the future course of stock prices seems to prove the accuracy of the words at- tributed to J. P. Morgan: 'The market will continue to fluctu- ate." By GORDON GRANT Elsewhere on the business scene: Maclean-Hunter Research Bu- reau takes a look at Canada in 1975 and sees a population of 23,505,000, up from 19,516,000 at April 1 this year and a gross national product of $59,600,000,- by up "from 1964's $48,016,000,- differ. canaman Acceptance Corp. has offered to purchase all the outstanding shares of Holt, Ren- frew and Co. Ltd. at $20 a share. Holt, Renfrew operates retail clothes stores in Montreal, /Toronto and Calgary. | The T. Eaton store in Brant- ford, Ont. has been sold to Wal- ker Stores, a division of Gordon Mackay and Co. Ltd. Within the next few months Walker will take over five other Ontario stores owned by Eaton's, They are in Sault Ste. Marie, North Bay, Lindsay, Belleville and | Brockville. of Canada (14. will raise $30,- |000,000 through the sale of a pre- ferred issue to "enable the cor- poration's continued growth and development." | In the first half of the year, |new bond financing in Canada raised $2,154,288,000 compared with $1,820,323,843 in the same period last year. Canadian breweries had lower profits in the six months ended April 30 -- $4,333,880 or 13.34 cents a share, compared with $6,015,382 or 22.07 cents in the same 1964 period s balance went to Russ Ferguson, Mounties Win, Ia Manly, Joe Timson and pegs |Mark Bergin, _ : Tied For First att Hore scored five goals for |Toronto Towns Mimico Mounties ,hot on the|O'Grady added tear, Don Poly, heels of the Oshawa Green/schuk, Barrie McKenzie, Bob Gaels all season, .ook advan-|Chandler and To mpbe! tage of their first big breakihad on each, oe , over the weekend by downing GOOD FOOD Toronto Township 14-13. The win jumped Mimico into a first BUSINESS MEN'S LUNCH 12 Noon to 2 P.M. place tie with Gaels in thé OLA Junior "A" series, as Oshawa lost Bo first game of the season to Hastings, ee Mimico won on Al' Smith's| ee 27 income tax cut. Pay cheques from employers for any pay. period ending July 1 or later were to have less deducted from them for fed- eral income tax than the rates prevailing during the first half of the year. Employees on weekly pay rates who receive their cheques monthly, such as federal civil servants, will notice the tax cut about July 15. Workers paid at the end of the month have to wait four weeks. ADDS $5,000,000 But the tax cut means an extra flow of about $5,000,000 a week into the public's spending|this extra spending power tojis considerably power. Burke: From arrangements. The maximum amount of tax) reduction was set at $600 a year for each taxpayer. Because the) new rate went into effect at, mid-year, the maximum reduc: tion for any taxpayer in 1965 is $300. | Finance Minister Gordon esti-| mated the tax would cost the treasury $170,000,000 in the cur- rent fiscal year ending next/the opinion of most economists.| 'phe stock market has been in|the on-again, off-again Churchill]} March 31 or $265,000,000 in a) full year. This is th about $5,000,000 a week SEES ECONOMY BOOST Mr. Gordon said he expects boost the economy and raise| A Naked City pecting it to rise by 744 per cent or even more and cross) the $50,000,000,000 mark. At the outset of 1965 many economists were predicting an easing in the upward surge in the economy during the latter part of this year. While the stock market faltered from mid-May on, other onomic CHANGES ITS NAME The Canadian Metal Mining Association, representing more than 95 per cent of Canada's metal output, has changed its Mitsubishi International of Ja- pan will buy $23,000,000 worth of copper concentrates from investment counsellor, \lain Fraser; says a Dow the-| lory sell signal has been given-- that means sell your stock--but the Fraser sell indicator re- | One SCHOOLS ARE CRAMPED Brunswick. Power Corporation|school graduates each year. Formosan universities' 15,200 Wedge Copper Mines of New/|places are sought by 40,000 high "FULLY LICENSED DINING ROOM HOTEL LANCASTER 27 King St. W., Oshewe goal with 90 seconds left, his second of the game. Jim Hen- derson, Bruce Ferguson, Gra- ham Gair and Kevin Ellis also had two goals each, while the natne to the Mining Association Both the Dow theory and the/of pases. i Fraser sell indicator are com-| Premier Jean Lesage of Que-| She licated methods by which ex-jbec says negotiations are con-| gave men : : | | a taste of life mains bullish--that means buy.| indicators have held up well, in The money supply in the ; (hands af the public--chartered) weeks although last week the|$1,000,000,000 power develop- equivalent of|bank deposits and currency 0Ut-\Toronto and New York markets|ment scheme has been held up! jside the banks -- was $18,181.-\¢.9req impressive gains 1000,000 on June 23, the Bank of} Canada reported Friday. This higher than at the beginning of April, when it was just over $17,800,000,000 Satch Blowin' To The Wild Blue Yonder Strong At 65 HOLLYWUOD (AP)--Twelve| O'Clock High has a new com- manding officer, a young acting veteran working on his fifth oak- leaf cluster for television series. You may recall in our last chapter that Robert Lansing, who played Gen. Savage in the wartime air force series, W@8/ary Barry Sullivan's assistant! being dropped from the cast. Some says it was because ABC, which was shifting the show to an earlier hour, figured the younger audience couldn't iden- tify with a general. Lansing's explanation was that he left vol-) 'we shot the series, mostly! lseason and did another one as major. In the first show next season I get promoted from lieutenant - colonel to colonel after Savage dies." number of television series. He! played a veterinarian in Noah's in Harbor Master, and under- cover agent in Five Fingers {Each lasted only a season, then he served three years in Naked iCity That. one nearly did him in. NORFOLK, Va. (AP)--Jazz man Louis Armstrong picked up his trumpet in his hotel room and put it to his lips. The notes came out big and clear Outside the {to Virginia Beach Armstrong celebrated his 65th) birthday Sunday, Burke may hold the record for; wat m ready for the show, he! hotel the chart- ered bus waited to carry him for Friday inight's show, his first public ap-) ipearance since he returned from a European tour 10 days) He's had no time to think) perts decide whether stocksitinuing foy the sale to Hydro-| should be bought or sold. iQuebec of electric power from that made them hunger six/Falls project in Labrador. Thel| for more! \ down trend for about Ps MGM pnd FILMWAYS recmns ELIZABETH TAYLOR 'RICHARD BURTON ADMITTANCE iby disagreements between Brit-|} At the height of the decline,/ish Newfoundland Corp., New-|) |some so-called experts were say-/foundland and Quebec | ling a bear--downward--market ------ ~ " )was approaching. Will last week's rally .con- IZZA tinue? The experts still aren't |sure and it appears to be any- telephone Apoidea cei af 728-0192 | FEATURE AT:--1:30 - es 3:35 - 5:30-7:35 - 9:40 IN PANAVISION* AND METROCOLOR THE TRAIN WILL CARRY YOU TO THE PEAK OF ADVENTURE! x »% > OSHAWA DRIVE-IN THEATRE k 723-4972 Tonight Thru Tues. Cary GRaNT Lesuie Central do GOLD RUSH Lounge and Dining Lounge KING WEST OSHAWA untarily, since he feared the 8€-\9, New York streets, six days) | ries would be less adult nextia week," Burke recalled, "Usu-|2>0u ms as, bo Sa though ow hat : ally we had two nights of shoot-!stands "is a little rougher now Whatever the reason, Savage ing, sometimes three or four, ean eas' will go down in flames on the often lasting all night. The com-|" Gjanc ver more than 50| first segment of 12 'Clock High|pany was actually like a COM-|yesre of music making that be-| in the fall. I mean literally. His pat outfit. Once my doctor made|"ee"s i! mu ping rad ae | plane will be shot out of the air'me go to bed for 30 days be- gan in his pie } S, wi another B-17 manned by @ cause I was so exhausted. aaite's esd good to me.| serman crew "T didn't realize how tired Iic,., 1 : a Enter Col. Joe. Gallager, was until the series stopped. bog fs gh te Syn played by New Orleans-born «]'m.9 product of television,""|°. a 4 rhs y Paul Burke, 38. He already iS pe said. "Sure, I'd like to be on tn" ng about it. ee familiar to 12 O'Clock High'the big screen or on the big) | PLAN NEW SYSTEM fans. stage. If those chances come,| Norway's seven-year ae 7 fine. Meanwhile I'm glad to be|tary schopls are being replace ee tee He , doing a series, and I expect to|by a nine-year system which all of pn a iss pig siete do others in the future, too."'children must complete then," explains Burke. 'I was, promoted to major on the show, then I came back later in th N.Y. Market Trade Hits 3-Year High NEW YORK (AP) The United States moved into its 53rd month of. business expan- sion this week with its eye on a turbulent. stock market. After six weeks of slow trad-| ing and slipping prices, stocks EDMUND PURDOM P| exploded into activity this roel JANETTE SCOTT ee So heavy was the buying and) | selling that June volume on the| AEMLT ENTAETAISMENY New York Stock Exchange eee boomed to more than 128,000,000 shares--the second biggest trad- SOPEN BILTMORE he] s PHONE 725-5833 BOTH IN COLOR! tow tang WHOOPS ,. . IT'S HAPPENED AGAIN! BRACE YOURSELF FOR LAUGHTER! "DOCTOR in DISTRESS" in COLOR with DICK BOGARDE JAMES ROBERTSON JUSTICE |] GIRLS OF THE | BEAUTY CONTESTS! $i). , . Their Lives and | Loves... . and the Men >] Whe Exploit Them! "THE BEAUTY JUNGLE" In COLOR with SAT. | SUNDAY ¢| 1:30 P.M. DOORS Due to construction on Thorn- ton Rd. use Stevenson Rd. and Service Rd FOR ADDED PLEASURE youve ymet the rat, pack FTW i 9 BOX OFFICE OPENS AT 8:00 FIRST SHOW AT DUSK OSHAWA'S FINEST NIGHTLY EN TERTAINMENT Ue eee NEAL JACKSON QUARTET On Tour to appear at leading night spots of LAS VEGAS with tops in pops and western ® COOL JAZZ for YOUNG MODERNS ¢ @ FINAL WEEK e Don't Miss This Entertaining Quartet e Entertainment Nightly at 9 P.M. e ALLAN MacMILLAN -- Manoger vues ect! BURT LANCASTE in JOHN FRANKENHEIMER'S ih with MICHEL SIMON + SUZANNE FLON WOLFGANG PREISS + RICHARD MUNCH PAUL SCOFIEL XS Now Playing SHOW TIMES--2:07 - 4:25 - 6:45 - 9:15 Starting Tonight IN THE BLUE HORSE LOUNGE A FRESH NEW TALENT DIANNE GEORGE with JOHNNY CAROL AT THE HONKY TONK PIANO ENTERTAINING NIGHTLY HOTEL LANCASTER OSHAWA, ONT. ume had soared over 10,000,000) shares in a day. While some of the estimated 20,000,000 shareholders in the U.. watched the flash of prices in brokers' offices or made the financial pages the first stop in the daily newspaper, there was little in the economic news to explain the week's feverish ac- tivity Economic statistics, as in re- cent weeks, presented a mixed picture. May figures released this week showed factory work- ers' take-home pay at a new peak and construction contracts 5 per cent higher than a year ago American Telephone and Tel-. egraph Co., the biggest corpora- tion in terms of stockholder numbers in the U.S., logged rec- ord profits and revenues for the 12 months ended May 31 The parent company of the Bel! Telephone System said its profits for the period totalled $1,700,000,000 or $3.28 a Common share. AT and T took in $10,- 500,000,000 in revenues during the 12 months : The. company's._previous _ 12-| month revenues of $9,800,000,000 produced profits of $1,500,000,000 or $3.16 share COST OF LIVING UP | As prosperity continued to rise, so did the cost of living The labor department said its price index hit a peak of 109.6 in May, up 1.7 per cent over a year earlier. This meant it cost $10.96 to buy the same items that could have been bought for $10 during 1957-59 Unmployment rose in mid June to a seasonally adjusted rate of 4.7 per cent from 4.6 per cent the month before, The gov- ernment said this was in line with expectations U.S. gold holdings fell $117, 000,000 in May. The outflow to meet demands of foreign hold ers of U.S. dollars marked the) smallest monthly loss of the year. However, a drop of $359,000 000 in the gold supply this week/| was the biggest weekly decline! in the gold reserve since 1959 The treasury said this was largely due to U.S. payment of its increased quota to the Inter national Monetary Fund. ! ing month in market history.' >6:30 P.M. Trading Tuesday on the ex-|2 change was the heaviest in --~-- | u more than three years, The 8 to 12 P.M. day's 10,490,000 share-turnover) marked only the sixth time vol- @ Dress As You Like @ Record Crowds Expected Block East of Liverpool! Road Ph. 668-2692 y , BOB HOPE and TUESDAY WELD FRANKIE AVALON ond DIANA MERRILL "PLL TAKE SWEDEN" Second Comedy Hit "ENSIGN PULVER" ROBERT WALKER and BURL IVES Both as Adult E pO 0000000 0000000000000 00000'| In Color Ree AiLAAAAAREIEIE EY Genosha Hotel NOW UNDER THE LIQUOR LICENCE ACT e@ ENTERTAINMENT NIGHTLY e APPEARING NIGHTLY IN THE Starlite Lounge. VALERIE and AL. Piano and Drum Duo Came to the Genosha from a tremendous session at The Brown Derby in Toronto HELD OVER FOR 2nd SMASH WEEK Harry's. Hideaway AL STANWICK ;.. C.B.cC. ALL STARS (Al Stanwick, tremendous trumpet player, formerly with Lionel Hampton, and the Glenn Miller Band.) CORONET LOUNGE OF THE CADILLAC HOTEL PRESENTS THE FABULOUS | JUNE PASHER FEATURING FRANKIE MONACO THE SONG STYLING OF TRIO COUNTRY and WESTERN MUSIC