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OSC Releases |. hh | | TORONTO (CP) -- The On- \tario Securities Commission has closed an investigation into in- correct assay results released by United Buffadison Mines last August, Commission Chairman John Kimber said the results of the investigation were inconclusive yand~it--was--unlikely--a~report 'would be made public. On Aug. 17, 1965, United Buff- adison released sample assay results from a drill hole on its Omenica district property in British Columbia. The stock's price rose to $2.40 in heavy trading on the Toronto Stock Exchange. On Aug. 23, complete assay results were released, showing ssayv Result I a Se ew Oo a Be indications of good-grade mol- ybdenum ore. Price of the stock dropped to $1.44 by the end of August. The Toronto Stock Exchange suspended Buffadison Sept. after TSE officials became sus- picious of the assay results. Parts of the drill core, as- sayed by Atlas Testing Labora- tories; Edmonton; were-sent to the provincial assayer in Van- couver and the Ontario depart- ment of mines laboratories. Results of the check assays were less encouraging than At- las assays. The Ontario Securi- ties Commission decitied to in- vestigate and the Toronto Stock Exchange re-instated Buffad- ison after publication of the checked assays. 'Alberta Economy Interests By TOM MITCHELL | LETHBRIDGE, Alta. (CP)--! The rider got the buffalo gallop- ing, jumped it into the back of }a pickup truck, hurtled across the cab roof and wound up sit-| ting astride the hood, hat in hand. | | Reds agricultural research station at Lethbridge. Here he was told of experiments in cross-breeding cattle and of steps for plant tests and disease control. He asked the chief entomolo-/ gist, N. D. Holmes, about the) 7) 000. KOREAN PAVILLION ; |book The Silent Spring by U.S.| There couldn't have been &/ author Rachel Carson, outlining! | more fitting climax to a day full) dangers of indiscriminate use of| Bond Market! Prices Drop TORONTO (CP)--Prices de- clined in moderate Canatlian bond market trading this week. The tate on day-to-day money was unchanged from last week at 5 per cent, as was the amount available, at $216,000,- Thursday's Treasury Bill ten- der was higher with 91-day bills up .06 per cent at 5.06 per cent and 182-day bills ahead .07 per eit at 5.17 per cent. Long- and short-term Govern- ment of Canada issues lost % to % a point. The 4%4-per-cent Sept., 1972, issue closed at $92.50 bid and -$92.75 asked. The 5\4-per-cent May, 1 issue was at 93% bid and 9. asked at week's end. Provincial investor interest centred on a new Province of Alberta issue, The issue is a government telephone commis- sion 6 per cent debenture issue at $100 to yield 6 per cent. It is dated Aug. 15, 1966, to mature Aug. 15, 1991 and is callable on or after Aug. 15, 1987. Municipal and corporate' is- sues were mostly unchanged in quite trading. Company Shows Profits Double | REGINA (CP)--A net profit of more than $2,800,000 for the first nine months of the current | | By LARRY DWORKIN Canadian Press Staff Writer Uraniums captured the imag- ination of investors on Can- ada's stock markets this week while banks faded despite pro- posed sweeping revisions of the Bank Act. _Analysts attribute .current. in- terest in uraniums to a number of factors: " 1, Bright prospects for the use of uranium in nuclear power reactors; 2. Expected increases in the price of the ore because United States reserves are not suffi- cient for its uranium needs; 3. Thermal nuclear power is growing in importance:in meet- ing electrical power require- ments. At Toronto, Denison jumped 6 to 60 after reaching a high of 61, Romar Corp., whose chief asset is Denison _ shares, climbed 3% to 15. It touched a high of 154%. Rio Algom added 11% at 27% after reaching a {high of 275g and Preston 1% to |@ high of 15%. BANKS TURN SOUR Banks turned sour following) Finance Minister Sharp's. pro- THE OSHAWA TIMES, Seturday, July 9, 1966 15 posed changes to the Bank Act expected to run into heavy op- position in Parliament. Some observers say it may take up- wards of a year before the re- visions are passed. Highlights of the Bank Act revision include: --L.--Six-per-cent -ceiling--on--in- terest rates of bank loans is to be raised and removed when credit conditions become eas- jer. The formula pegs the new ceiling at 1% percentage points above the average market yield on: short - term government bonds. 2. Banks will be allowed to make mortgage loans in expect- ation that increased competi- tion will help small borrowers. Wednesday, bank issues showed good strength following introduction of Mr. Sharp's pro- posals. They tumbled Thursday and Friday due te uncertainty about the passage of revision. Imperial - Commerce paced the decline, falling % to 63. Royal was down % to 73% and Nova Scotia %4 to 6914. Montreal) and Toronto-Dominion were un-| changed at 59 and 6214. | Among other _ industrials, jto 96.41, CLC Appoints Committee to Canada. One of the girls is Mr. Hahm's daughter and the other is the daugh- ter of a research student at McGill University. --CP Wirephoto was unveiled in Montreal Thurscay. Looking on are Robert F. Shaw, deputy commissioner - general for Two little Korean girls show a keen interest in the model for their country's pavilion at the 1967 Mont- Expo. 67, and Younghun real World's Fair which Hahm, Korean ambassador peieiedediaiiciaiictacasoesnidilnn " -|hours at a rédeo at Fort Mac-| lof western glamor for Mmitry| insecticide pi |i giam sane a Y | insecticides and pesticides | fiscal year was more than dou-| Polyansky, visiting Soviet dep-| natural life. : | ; Hl d with! : ble that at the same time last} uty premier. He roared wit Mr. Hol said he felt the| | Mr. Holmes said he felt the| year, International Steel and) laughter at the stunt. |book drew an exaggerated pic-| pj Mr. Polyansky wound Up &lture But peice ogy nn rabid led yore ies caught busy Friday with almost two|lsr ou, 'om asiny insect! {oy : fs ge ded 'rom using insecti-) In an interim report to share- cides because of the danger Of| holders, the company said sales contaminating the soil |during the 'nine-month period jending May 31 this year were |Leod, 25 miles west of Leth-| | bridge. There were about 2,000) |area residents at the competi-| CONTROLS GRASSHOPPERS US. Ru Boosts By SALLY RYAN NEW YORK (AP) -- Tighter reins. on the U.S. economy are putting additional pressure on the consumer. On one hand, financial insti- tutions are fighting for his piggy-bank. Commercial banks, savings and loan associations, and mutual savings banks all are offering him higher interest rates. But if he wants to borrow }tion and, when the deputy pre-| | mier's presence was announced, |they gave him a big round of| | applause | Mr. Polyansky and members sh For Money Interest Rate Sea saat soeeng ceooal money, he will discover it will,as those available in Califor-;riding and a chuckwagon race| cost him more than it did last) nia. | with four-pony teams. That put |} month. Savings bank spokesmen indi-| a unique western end to a day And in between, some of the|cate growing concern about the| that had the same kind of start | thrift institutions caught in the|one per cent spread between|--an outdoor breakfast at Medi-| jsqueeze say they may shift) the dividend rate they are pay-| cine Hat | more money into states where! ing and the mortgage rate. Members of the party started mortgage rates are higher. The Federal Home Loan|that meal with a glass of "'cac- A mutual savings bank|Bank Board said this week the|tus juice," which turned out to | spokesman in New York said|growth of the savings and loan|be orange juice with vodka his bank: would consider es during the first five|they went on to bacon, eggs, jcreasing its investments * months this year was the small-| rolls and coffee. -y i s shi est 'sine > * 'higher-yielding mortgages, such) e: ince 1951 because of in FLAPJACKS MISSING New Trading Agreement Negotiated At Meeting ------ creased competition Th ly thi | The board said new. loans le only Hing Missing wae Pagan flapjacks; the gas-fired. cooking were down 18 per cent nation-| ' } ally from 1965 during May. As-|*@"8¢ wouldn't, get hot enoug! sociations in the Cincinnati and|t® handle them. : Des Moines districts, however,|, THe" the deputy premier increased their lendings 2 and) headed -for Lethbridge, 100 | miles southwest. His object was 'a look at the grain, cattle and) | vegetable farming technique. of | {13 per cent respectively | TOPS FIVE PER CENT Insecticide has proved the} only way to control grasshop-| pers, which could eat up $175,-| 000,000 of the Prairie wheat) crop in a year if unchecked. |21.5 per cent of sales compared) yrer, will delve into union struc- Russian scientists. have run into this problem,' Mr. Poly-| ansky said through an inter- preter. ii should be tackled co- operatively by scientists in both countries. | Then the deputy premier, an) agricultural institute graduate,| tramped the research station) fields looking at various va-| rieties of wheat and experi-| ments to show the results of fertilization of sugar beets, an-) other big crop in southern Al-| berta. He hopped on a big tractor and disc-harrowed a section of summer fallow, then tried an- other tractor with a blade har- row After that he made brief tours of a bulk fertilizer plant, where one man using a system of con- veyor belts mixes 3,000 tons of} |reau of Statistics said today. | $13,202,765, compared with $11,- 061,946 at the same time year. Net profit last of $2,838,231 was| with the net profit of $1,134,554-- 10.2 per cent of sales last year. To Study Union Makeup OTTAWA (CP)--A seven-man commission appointed by the Canadian Labor Congress will make an extensive study of that segment of Canada's labor movement represented by the CLC The congress said in a state- of a federal department of con- sumer affairs and legislature 'Uranium Stocks Soared le Banks Went Down Walkers declined 2 to 31 and Distillers 1 to 32%. Walkers is facing a possible $26,000,000 tax 'paymient in the U.S. because of disallowance of certain interest payments and selling expenses between 1958 and 1962. 'CPR ADVANCES _Massey-Ferguson..was...ahead. 1% to 35, CPR 1% to 64%, Im- perial Oil % to 54% and Al- goma Steel % to 294%. Mcintyre Porcupine, which holds a large block of Falcon«: bridge shares, increased 11 t6 7, It was recentiy rumored- that 200,000 McIntyre shares were sold by Power Corp. at $100 a, share. Falconbridge ad- vanced 2% to 96%. Western oils were stronger with Scurry Rainbow up 2% to 30%, Canadian Superior 1% to 20%, Home A 1% to 19% and Pacific Petroleum 1 to 12%. Golds were lower. Dome dropped 24% to 48%, Campbell Red Lake % to 24, Kerr-Addi- son % to 10% and Giant Yel- fowknife % to 125%. On index, industrials were up 92 to 162.89, base metals 3.07 western oils 1.56 to 104.51 and the TSE 1.03 to 154.95. Golds were down 5.33 to 174.06. Volume was 14,212,355 shares compared with 12,049,400 last week. At Montreal, industrials were up 1.48 to 162.03, utilities 1.33 to 142.34, and papers .47 to 116.90, Banks were down .28 to 119.18. Volume was 4,600,419 shares compared with 4,384,665 last week, action to ensure truthful adver- itising and _packaging. On housing, the council said current programs favor the middle and higher income groups. It estimated that 100,- ment Friday the commission, headed by Donald MacDonald, CLC national secretary-treas- 000 families live under poor housing conditions. to launch sustained, co - ordi- nated campaigns with emphasis on low-cost public and co-oper- tures, mergers, affiliations and unity. Common shares showed a net! |profit for the ninth-month pe-|recommendations and to pro- |riod of 97 cents, up from 41|/pose changes in the CLC con- cents during the same period| last year. | Unemployment Figures Decline OTTAWA (CP)--There were} 413,900 persons seeking unem-} ployment insurance benefits) April 29, a decline of 84,000) from March, the Dominion Bu-| There were 463,000 claims for the benefits in April, 1965. | Average weekly estimate of} beneficiaries was 398,000 in| ative housing. Other points included subsid- ization to reduce interest rates, bigger mortgages on older homes, special provisions for housing for the aged and vigor- ous public housing construction for subsidized rental. The CLC also called for na- tionalization of all forms of en- ergy, such as coal, petroleum, natural gas, electricity and nu- clear energy and public owner- ship of water and sewage sys- tems. In still another resolution the council urged more income tax exemptions. It listed all ap- proved medical expenses, trans- portation costs to necessary health services, text book and transportation costs for students at all levels, child day-care It will be empowered to make stitution. The congress also called for a government inquiry into the "disparity" between the prices paid to farmers and charged to consumers. In a series of statements aris- ing from a meeting of the CLC executive council, the central labor body also issued policy statements on housing for low- income families and on steps to offset unemployment result- ing from technological change. The policy statements were based on resolutions referred to the executive council by the re- cent CLC national convention. The council said farmers ought to-be guaranteed decent Affiliated unions were urgedif' By KEN CLARK jtiations in the Kennedy round| The standard dividend ate at junder the General Agreement|Major mutual savings banks OTTAWA (CP)--Canada and the 13 Poateanaeats Carib-| on Tariffs and Trade. |has reached five per cent. bean countries produced a new| All signatories were also al-|S0me savings and loan associ- fertilizer a year, and a feed|April compared to 401,600: for plant, where seven men handle| March and 435,300 in April, 1965. 800,000 bushels of grain a year,| Average weekly payment in grinding it and adding salts and|April was $24.76 compared to minerals to speed cattle or hog| $24.98 in March and $24.87 in| | southern Alberta. |} At a grain and vegetable farm near Taber Mr. Polyansky saw an insulated storage bin) income and consumers ought to be guaranteed reasonable prices. It urged establishment costs and expenses for buying, maintaining, replacing and ship- ping tools. trading arrangement Friday, compounded of immediate changes and tie-binding prom-| ises. The deal, worked out at a top- level conference, also places trading relations between devel- oped Canada and the developing Commonwealth Caribbean on a permament consultation footing. It was a logical end to the three-day .conference called to strengthen links between Can- ada and the 13. Canada tended to be the giver and the visitors, receivers. Canada agreed to eliminate the 29-cent-a-hundredweight im- port levy on a staple Caribbean export, sugar, following agree- ment by other international trading partners. The move was regarded as a major Canadian concession. All lowed to waive revised terms ations in California are paying|that holds 20,000 tons of potatoes) if they conflict with GATT, but 5% and 5% per cent--even six|and looked over the irrigation only after bilateral consulta-| Per cent for special three-year | system used on the farm. It con-| | tion. bonus accounts. Commercial| sists of long stretches of sprin- | | banks are allowed to go up to|kler pipe mounted on big alu-| }HELP SELL BANANAS |5% per cent on individual time| minum wheels. It rolls 60 feet, | Canada also promised to do/| deposits. \to a new section after spraying | whatever it can to restore the) The Federal Home Loan|in one place. | Caribbean share of the Cana-|Bank Board gave up its at-| Next stop was the federall |dian banana market. jtempt to limit the dividend) ---- _ set . And reacting to Caribbean|Tates that savings and loan as- McC complaints about lesser rums|S0Ciations pay savers, saying it ll h F masquerading as the real Carib-| WAS unenforceable, u ag bean stuff, Canada agreed to Some California associations |require that both the origin and|that increased dividend rates |Canadian content be clearly| Said they didn't expect to at- marked on the bottle. |tract substantial new savings Canada also promised to try| because of the decline in custo- to persuade. provincial liquor-|™Mers' savings and the compe- selling authorities to take more| tition -- myhoage banks. Caribbean rum. |They said they made the in- z ; It wasn't all a one-way street.| creases only to meet the com- George Drew, says his mother The Commonwealth Caribbean|Petition and to hold onto the|8@V€ UP between $1,000,000 and understood to assure "'fair and|S@vings accounts they already| $2,000,000 of her former hus- TORONTO (CP)--George Mc- Cullagh, son of newly-wed Mrs. When Widow Re-Marries | Mr. McCullagh's sisters got one-| growth. | Then came the drive to Fort} McLeod and the rodeo. | Today the deputy premier) heads toward Calgary and his) plane trip back to Ottawa. He) will visit one of the area's big) ranch operations along the way.} ortune Lost | thatthe three McCullagh chil-| dren, Robert, George and Ann,} got half divided among them. | quarter and the widow, now| Mrs. Drew, got the other quar-| April, 1965. Wholesale Egg Prices Quoted | TORONTO (CP) -- Wholesale to retail carton eggs average weighted prices quoted by the agriculture department as of July 8: A large 52.2; A medium 45; A small 34.4, | Eggs: Wholesale price to! country stations fibre cases| quoted by the Toronto Board of| Trade from wholesale egg deal- | ers: Extra-large 50; large 58; ' medium 36-38; small 26-27; B| 38; C 33-34. | Butter prices: Agricultural! Stabilization board tenderable| car Buying 40 score 59; SAVE $ $ ON AUTO INSURANCE If you are an Abstainer you save up to $22.00 on your auto insurance. See... JOHN RIEGER 597 KING ST. E., OSHAWA DIAL 728-7567 equal" opportunity at home for} ad. the marketing of Canadian! Other business develo hundredweight. However, the|wheat and codfish. The wheat|4uring the week: Caribbean sugar will be allowed| Would go to new flour mills. | Automobile sales the first six in on a quota basis. _Sleasicontiy for the long run, | months ag dal were 3.6 per |the signatories will co-operate|Cent lower than 1965. Automo- AMEND AGREEMENT land consult in a variety of bile production this month is More immediately, the 1925|fields from tourism to forestall-| Scheduled to fall 37 per cent be- Canada West Indies trade ing disruption of trading pat-| low a year ago. agreement was amended in sev-|terns. They'll also work to-| eral ways. | gether in international commod-| 590,000 of its 1966 model cars, The protocol eliminates im-jity discussions, particularly to| 197,000 of them in the United mediately the "nuisance rule | get a good world price for sugar| States, recalled for the inspec- that allows preferential Cana-| on which the Caribbean is so| tion of possible defects. dian tariff treatment only on! dependent. Steel production dropped 2.8 goods shipped directly to Can-) It is no secret that Canada's|Per cent to 2,570,000 tons. "Castine dakavier ceeasiet into the Caribbean is| Heavy use of air conditioners s ri the rule as outdated | The protocol also provided for| establishment of a trade com-!peting countries is mittee composed of senior offi-| and untidy cials or ministers. from the} : Caribbean and Canada. It would) SKATES AROUND UNITY meet periodically to talk over; But Prime Minister Pearson mutual problems. was careful to skate delicately) Canada also agreed to keep/ around the subject of Caribbean the Commonwealth Caribbean | unity under reporters' question-| preferential position clearly injing at the signing ceremony.| mind during tariff-cutting nego-| Political unity is entirely up to| International Utilities Corp --_---- vee oe Recon he| common 30 cents; $1.32 pref. 33 aid, e West Indies Fedeéra-! cen JS. fia hehe wo ta teak by ts U.S., Sept. 1, record Aug. Donald Sangster, acting! Frontier Acceptance Corp. BA Considers New | |Prime minister of Jamaica--|Ltd., 6%4-per-cent A first pref. other sugar entering Canada must pay duty of up to $1.29 a pments ing partner in the region. Deal-| 'tic power output soaring to a ing with a group of tiny, com-| @ © 0rd. 23,747,000,000 kilowatt complicated | hours--14.7 per cent more than |@ year ago. Companies Give Share Dividends By THE CANADIAN PRESS Volkswagen ordered about | partly to develop a unified trad-| during the heat wave sent elec-| | band's estate to marry the one-| ter jbu ) score 58; selling 59. ecu ore pleased to announce the "Appointment Of JERRY COADY to thelr office Sales ' Representative We welcome his experience and integrity; 14 years of Reo! Es- tate selling... BUYING or SELLING "SIGN OF ACTION" 728-7576 Sibby's Real Estate Ltd. 46 KING ST. W. OSHAWA This now goes back into the estate to be divided again. Mr. Drew, 72-year-old former| ; ! § .;Ontario premier and leader of| an interview. "Mr. Drew is|the Progressive Conservative| quite wealthy in his own right."'| opposition in the House of Com-| Mrs, Drew previously waS|mons, and Mrs. married to the late George Mc-\were married Thursday in a| |Cullagh, former owner of The! quiet wedding, some two years Telegram and The Globe and) after Mr. Drew retired as Cana-| Mail. His estate originally was) dian high commissioner to the valued at $4,600,000. | United Kingdom. | But the estate sold The Globe| and Mail to Howard Webster, Montreal businessman, for $10,-| 900,000. | "The government jhalf of that," Mr. | said. | As for the sale of The Tele-| |gram to John Bassett, 'there was so. much owing in bank loans, there wasn't much left." The will divided the estate so | time Ontario and Canadian po- | litical leader |. "It's no sacrifice for her," Mr. McCullagh said Friday in got about McCullagh Cass... 40 cents, July 29, record July} | 15. | Canadian Utilities Ltd., com- | mon 40 cents, Aug. 30, record |Aug. 15; 5-per-cent pref. $1.25, |Aug. 15, record July 29; 4%- |per-cent pref. $1.06, Aug. 15, record July 29. | By THE CANADIAN PRESS | bean countries at the confer- A spokesman for British| ence -- said there was little smerivan Ol Ob. Ltt. sald in| Chance of union in the foresee- Toronto Friday the company is|®ble future. But. John Compton, considering construction of an| Chief minister of tiny St. Lucia, cil "seiner Point Tupper, said that is the ultimate goal N.S. The spokesman could give) S9me Caribbean delegates no details except that discus-|S@¥ the conference as the birth} sions have been held with the|°f 8 new Western Hemisphere Nova Scotia Power Commis-|Political bloc comprising Com-| sion ial Oil Ltd. and Tex-| ™Onwealth countries aco da Ltd, already have| Mr. Pearson, a former diplo- plants in Nova Scotia, _ mat, said he didn't know "if you could call it a bloc." There | WON'T PAY is no intention, he said, to set! Smith, secretary-treas-|UP a parallel body to the Or- urer of J. H. Ashdown Hard-| ganization of American States ware Co. Ltd., said Friday in| Another conference will be Toronto the company. will not)held in' six months or a year} pay the 15-cent quarterly divi-jin the Caribbean to strengthen| dend due on its cumulative|/the association. No site has Class A shares. The company/been choser paid.a 60-cent dividend in May, The consultative committee but now is 30 cents a share inj will look into the question of a arrears. | free-trade agreement. Nova Scotia Plant one of three independent Carib-| at Lr Let us put new life in those d Motels, etc . serving Osha B. E and surrounding districts. Give Carpet & Upholstery DYEING a fraction of the cost of replacing. We do wall to wall broad- loom right in your home or place of business. Brighten up any room's chesterfields or chairs the low cost way, 'used by Hotels, CALL 728-5387 Rainbow Color Re-Nu 555 KING ST. EAST INVESTMENT: TOM WALLY GALES AMERICAN GROWTH FUND LTD. FINANCIAL PLANNING THROUGH MUTUAL FUNDS . featuring AMERICAN GROWTH FUND 67 King St. E. OSHAWA, ONTARIO PHONE 723-8801 "We will be happy to serve you"' LEE GALES -- WALLY GALES | u | due November 24, rob, faded, and soiled colors at wa, Whitby, Ajax, Bowmanville us.a call fora FREE ESTIMATE, UNAPPROPRIATE OSHAWA Pledges receivable . Accused interest receivable Guaranty Trust - deposit receipts po hee 6 4a ca oe Total current assets Guaranty Trust -- 534% bi 1 A ee Assets CURRENT ASSETS: 1968 -- at cost ... eeee eee ere eeeene 1 1 invettment certificate, Greater Oshawa Community Chest (Incorporated Without Share Capital under The Corporation Act, Ontario) BALANCE SHEET AS AT DECEMBER 31, 1965 (with 1964 figures for comparison) 1965 1964 27,422 $ 39,381 54,258 119,277 1,365 1,239 7,000 145,000 $358,045 $304,897 35,000 cubs ees anlgepicy aes 5 oe Liabilities PLEDGES PAYABLE TO AGENCIES . APPROPRIATION FOR THE FOLLOWING YEAR'S MANAGE- MENT AND FUND RAISING EXPENSES D BALANCE ..... . $28 2 9 $339,897 8,300 $260,900 1,000 8,745 21,000 57,997 $408,045 $339,897