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YE DAILY TIMES - GAZETTE MONDAY, DECEMBER 31, 1951" DAILY CROSSWORD peeeelErcel | PAGE TWELVE ' Canadian Pacific Railway President Announces Five ( ; | markets would be relaxed, were | duce a predicted year - end rally. | noted increasing buying of common | relatively quiet when the restrict- | Western "oils closed near thelr | stocks as opposed "to preferred |ions were finally eased. high for the year but industrials | TRADING IN | Increased demand for strategic |were down about 20 points while | 1SSUeS, 8s a hedge against inflation. | base metals, coupled with interest |base metals and golds finished| Volume for the year was more [in western oil developments, sent about five and 10 .points lower, | than 550 million shares compared {the daily volume to an average of | Looking ahead, most observers | With abcut 500 million in 1950, while ACROSS 4. God of 23. Heavy 1. Native pleasure weight Arabian Narrow Possess 5. Twilled inlet Unaffec! 2d 24. 26. 28. 5. Year Plan of By W. A. MATHER, President, ~ Can. Pacific Railway Company Montreal, Dec. 31--In 1951 busi- ness activity in Canada continued at a very high level. Develop- ments in international affairs and the necessity for heavy defence production d some disl tions but employment remaihed generally at a high level and the volume of both internal and inter- national commerce was main- {aimed at record heights in most elds. Canadian railways shared in this | activity. However, in the case of the Canadian Pacific Railway, while the estimate of tonnage to be handled during the year, pre- pared for the information of the Board of Transport Commissfon- ers, was about realized, on the other hand an increase in work- ing expenses, owing to Ligher wages and costs of material and supplies, together with the intro- duction of the 40-hour week, re-| sulted in net railway earnings be- | | " ing less than those of 1950 by some $10 million, In a year of high economic ac- tivity, this result must be regard- ed as extremely disappointing, and it has again been necessary for the railways to make applica- tion to the Board of Transport Commissioners for authority to fmore-se their freight rates. INCREASED CHARGES . It should perhaps be pointed out that after all the outstanding applications have been granted, the increases in railway charges will have amounted to less than 60 per cent from the levels pre- vailing before the Second World War, Compared with this, whole- sale prices in general are now more than 140 per cent higher than at that time and the increases are most marked in commodities essential to railway operation. Wage rates have risen almost in the same ratio. The total income of the nation, whether measured in production of goods or in money, has increased many fold. Without doubt, the great major- ity of the Canadian people would agree that its railways should 'have facilities and equipment of the most modern kind to permit the safest, speediest, most efficient and most economical movement of goods and passengers, but this can only be accomplished by the railways being permitted to earn enough to finance the outlay which this program will necessitate. FIVE-YEAR PLAN The Canadian Pacific Railway is now engaged in executing a five- year plan which will involve an investment of $400 million in new motive power, roiling stock, both | passenger. and freight, and other facilities, and this program is by no means excessive as compared with the needs which are to be anticipated if the nation is to con- tinue its present rate of progress. The Company's replacement of steam with diesel locomotives has continued and was extended to the territory between Calgary and Revelstoke, over sgme of the heaviest gradients of the system. A total of 28 of the most powerful | diesel units used in Canada was placed in this impartant service, and a further 38 such units are marked for delivery in 1952 to complete the dieselization of this strategic 262 mile section. NEW EQUIPMENT To meet the constantly increas- ing demands of shippers, orders for some 3575 freight car units were placed for delivery during 1951 and additional orders for 4230 freight car units have been given for 1952 delivery. The total capital outlay for new equipment, including locomotives, passenger equipment and freight cars during 1952 will amount to around $60 million. / For the better handling of per- ishable commodities, Canadian Pa- cific transportation experts 'and engineers worked closely with the National Research Council others interested in the .develop- ment of a new kind of mechanical ly refrigerated freight car. * Tests are continuing and it is expected that the new equipment will add considerably to the efficient trans- portation, in many cases over trans- continental distances, of such per- ishables as fish, meat and fruits. During 1951 the growth of the Canadian economy was reflected in heavier rail carryings of such commodities as sand, stone, gravel and cement as well as iron and steel products, pulpwood and paper. There was also a substantial in- crease in the volume of grain and grain products. STEAMSHIP SERVICE Early in 1951, the 26,300-ton flagship of the Canadian Pacific fleet, the Empress of Scotland, re- stored the house flag to winter cruises out of New York, making a series of seven cruises to the West Indies and South America. | The popular liner gained further | distinction in - November when Their Royal Highnesses, the Prin- cess Elizabeth and The Duke of Edinburgh, embarked at Concep- | tion Bay, Newfoundland, to return to Liverpool affer their Canadian | tour. This vessel will make four cruises this Winter, operating, how- ever, both from Southampton and New York. On the Pacific Coast two new vessels joined the fleet of the Brit- ish Columbia Coast Steamship Service. The Princess of Nanaimo, a 6,000-ton composite car ferry and passenger ship, of "great beauty and modern design, was placed in service on the busy 36-mile stretch of the Gulf of Georgia separating Vancouver and Nanaimo, the prin- cipal distributing 'and transporta- tion centre of Vancouver Island where the Canadian Pacific pre- viously erected a new rail and ship terminal. The Yukon Princess was placed in operation in the growing British Columbia coastwise trs-~ A hew weekly steamship service designed to meet the needs creat- ed by large developments in the fabrics (geol.) ©. To anoint . Locomotives (obs.) . River (Ar- 10. A kind of gentina) filling . Rational 31. 32. Improvement | (Dent) . High (mus.) 33. 4 12. A son of . Sweet | Jacob potato (poss.) . Sun god 13. Town Twice (Guam) (prefix) 14. Double Editor 15. Article (abbr.) 16. Flower 20. Simian 20. Part of 21. Border "to be" 22. Military assistant 23. Sign of the infinitive 25. Italian city 27. Not fast 29. Type measure 30. Bird 34. Tavern 35. Depot 37. Piece to fit intoa ratchet 39. Dull pain 42. Foreign 44. A toast 45. Slight error 46. Tillers (naut.) Jo was instituted between Van- 1 Pause | couver and Prince Rupert, gateway name to Kitimat and other huge under- DOWN | takings, 1. Afresh | C.P. AIRLINES 2. Refreshes | Canadian Pacific Airlines con- 3. Arrange in | tinued to serve the nation over 10,- a line | 000 route miles of domestic opera- | tions, as well as by regular over- | seas flights to Australasia. Auck- land, NZ. was added during the | | year to the trans-Pacific itinerary | {' which now includes Honolulu, Can- | | ton Island, Fiji Islands, Auckland | | and Sydney. On its Vancouver-To- kyo-Hong-Kong operations, the | four-engined, pressurized Canadair | IV's of Canadian Pacific Airlings | continued to make a definite con- tribution to the Korean air lift. | The Company is the first airline in North America to place orders for jet airliners, two "Comets" of English manufacture being on or-, der for 1952 delivery. These DeHav- illand planes will be placed in the Australasian service where they are expected to operate, at maximum | efficiency. d The future world situation, and | its effect upon Canadian industry and trade, is, of course, extremely unpredictable, but* the Canadian | Pacific anticipates that business in 1952 will be maintained at about | the levels of the past year and continues to endeavor to improve | the efficiency of its operations in order to meet transportation re- | quirements. 35. 36. 37. 38. 40. 19. W. A. MATHER President, CPR AXYDL isLONGF MC HWW MVA ZCS Free Nations Still Long | Way From Security By Norman Altstedter Canadian Press Staft Writer | Paris -- Western unity planners line, when their defence plans are supposed to be jelled enough for | Capitri (Neb.) "Ann dna AIG ENEPIVIRIE] | Rough lava AlB A | Neuter CRRAIGIA[Y } Phinese a 5 a: | HIGH LEVEL Chinese RA L[ALS] SIE measure 3 Steal (slang) Made of oak Chum Like a wing Curved bar on horse's collar DAILY CRYPTOQUOTE--Here's how to work it: One letter simply stands for another. In this example A is used for the three L's, X for the two O's, etc. Single letters, apos- trophies, the length and formation of the words are all hints, Each day the code letters are different. A Cryptogram Quotation THMPSA NFIVM BMHTJ PQ HTJ BHO NHT!"-BVHYABQAHSA. Saturday's Cryptoquote: GOOD GOD! WHAT AN AGE IS THIS AND WHAT A WORLD IS THIS!--PEPYS. Distributed by King Features Syndicate European Unity Racing Against Deadline In Co-Operation Program are racing against a Feb. 2 dead- [\ and | Says Prime Minister Ottawa (CP) -- Prime Minister St. Laurent said last night the free nations are still a long way from security but are in a better posi- tion to resist aggression than a year ago. Mr. St. Laurent issued his annual | New Year's message to Canadians. | It will be broadcast over the CBC's | French network tonight and over | English networks Tuesday night. | "The free nations," the prime minister said, "are in a better posi- tion to resist aggression than they were a year ago, but we still have a long way to go before our people can feel really secure. The nations which want peace must continue to build up their strength and to main- tain their unity." Dealing with the Korean war, he said that "we are still hoping for a successful end to the hostilities in that desolate land, where the peace-loving nations have banded together to stop aggression and en- force respect for the rule of law." Of Canada's internal affairs, he said: "I know there are many famil- ies where the cost of living has | caused real concern and even some | hardship. But we can be thankful that most Canadians are gainfully employed. "Compared with all other na-| | tions but one, we enjoy a very high | standard of living, indeed. And that | | good fortune has enabled us to help |the less fortunate in our own | midst." ANCIENT CHURCH The Greek Orthodox Church was | established in A.D. 1054 after a |split with the religous authority of the Pope. WE WISH Atlantic Treaty Organization -- a 0 OUR FRIENDS AND PATRONS A PROSPEROUS AND HAPPY. New Year JAMES PERNOKES BANDSHELL COFFEE SHOP THE PLACE FOR DELI- CIOUS ICE CREAM BRICKS AND LUNCHES setting a pattern of military and | economic cooperation. The deadline is the opening of | the council meeting of the North | meeting already heralded in some official quarters as decisive for the | future of Western unity. The big problems are the set-up of the. projected European army | and the question of Germany's | integration into the Western | defence force. Interlocked with | these problems are various econo- | mic factors, including the dividing | of rearmament costs among the | 12 - member countries and the fate | of the Schuman Plan for pooling | coal and steel production. None of the proposed plans has | been fulfilled yet, although all have shown some progress. But even while officials express hope they will be able to come up with defin- ite blueprints in February, alterna- tives for Western defence arrange- ments are being formulated. The idea for a European army still has some hurdles to leap before it become a reality. This force, made up of soldiers from | the European army now are politi- | cal | ments in their objections to giving | Tobacconists Association, said Sat- France, Italy, Belgium, the Neth- STOCKS HIT Saturday's Answe" By DICK BAIDEN Canaulan rress Staff Writer Toronto -- Toronto Stock Exchange prices which reached | 41. Elevated trains | six million shares in the second | predicted steadily growing demand | value of the trading was around | week of October, with the turnover | for base metal and western oil | $1,165,00,000, compared with last | topping seven million shares in |stocks. Selected industrials, not -|Vvear's $885 million. | two sessions. Optimists saw their hopes of a | rising industrial market fade as | prices slipped in relatively slow November trading. Only western | oils Held their ground. December trading failed to pro- | security prices. Some professionals {ably steels and some manufactur- ing companies, they thought, would 2lso be in demand. Golds would | | ; show little change unless there| St. Peter's Church: in Rome is were a sudden reversal of ner | coy largest church in Christendom, . LARGEST CHURCH rising trend for other covering an area of more than' | currently 26,000 square yards. (shortened) 43. Seine 44. Chinese silk record highs in September, slipped | during the latter part of 1951 to about one - third off the industrial gains. Base metals and western | oils, however, managed to retain most of their advances. The Exchange's industrial index ended 1950 at 290.65, reached 360.28 Sept. 14, and ended this year near 340. Base metals climbed from a year - end figure of 183.01 to 198.55 Oct. 3, and held around 193. West- ern oils advanced from 80.25 to 126.31 Nov.: 12, and stayed close to that figure. Golds went from 74.72 to 94.44 Feb. 17, but were down to around 84 at the year-end. | Heavy whlume dyring the year, reflecting enthusiasm for mining issues, reached a peak turnover of 7,537,000 shares Oct. 11, an all-time . daily record. | All divisions started the year | strongly. Industrials jumped 45 | points by early February, while golds added 20 points, base metals | 26 and western oils 23. The advance slowed later in the month and reversed direction in the final week. . March hesitancy was replaced in April by renewed confidence. | Investors noted increased expend-! 'itures for rearmaments and selected industrials drew firmer support, sending the industrial index up another 25 points. Mining change. A sudden wave of selling May 15 ' dropped prices for their greatest loss in six months, leaving observ- | ers bewildered; but the selling ended as suddenly as it began and industrials ended the month near their opening levels. Base metals ease, but golds and western oils showed only slight changes. Announcement in June of Armi- stice talks in Korea caused a brief | recession, but in general investors held to the view that armament programs would be continued. SUMMER DOLDRUMS "™ Prices moved drowsily through | July and most of August, but late support added 13 points to the industrial index, and carried on into the record high - ground of mid - September. Base metals and oils showed only slight gains in this period. Golds, which earlier | | captured interest on rumors that | BAAXR ELLOW WJ, MVFB ZHB H Planners restrictions on gold sales in world | x-- x r---- * | ! TUESDAY and WEDNESDAY -- JANUARY 1 and 2 - We wish you a Happy New Year's Day; and a carefree heart, good health and prosperity throughout all the Three Hundred and Sixty- Six Days of 1952. STORE CLOSED ALL DAY erlands, 'Luxembourg and Ger - many, would form one unit stand- | ing alongside the separate units of | United States, British and Canad- | ian forces. The main difficulties holding up In both France and Germany the | extreme nationalists threaten the chances of ratification by parlia- up any sovereignty -- the plan is to merge national units into larger groups of mixed nationalities. And | § on the economic side, the Benelux | § countries are making strong objec- | N\ tions to a common military budget | § for the countries involved in the | European army. SELL SMUGGLED FAGS "Toronto. (CP) -- J. C. Farr, president of the Toronto Retail urflay he had received word that retail stores in Montreal, Three Rivers and other Quebec cities are openly selling smuggled American cigarets across the counter. The prices range from 27 to 30 cents for a package of 20, compared to 42 to 46 cents for Canadian brands. 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