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RG Pe Fe RII ew A AG GG ATG GA Ep rofit-Taking Causes hird Straight Decline By RON ANDREWS [be each lost $2.75 and A Soroite- pound, bringing the custom smel Jo TE BARY TIMEB-GAZETTE, Setwreny, Mereh 7, TYVS Weekly Summary J A) advances ws i fo 348 oa the on ph Exchange this week. Issues enchanged Volume for the week was 12,980,000, from the pre- vious week's 11,906,000. Total sales for year to date are 100,683,000. (Quotations in cents unless marked §) Week. This High Low Close ree THES WOOK meee 1958 Stock Sales High Low Close Change High Low 10000 10 8 -1 11 32200 5 Sih 6 +7 +1 -3 |] * by H Block Bales Canadian Press Staff Writer |Dominion eased $1 to $40 ter price 1% cents a pound be The bears outweighed the bulls| OILS DEPRESSED low the 25-cent level of large: again this 'week on Canadian, Western oil stocks failed to|United States producers. Losse: stock-market trading floors and crawl from their losing streak, among copper stocks ranged tc the markets suffered their third although they made a feeble at-|50 cents in the lower-priced is straight decline. tet Wednesday. sues. By Friday all sections had been| A lack of markets for the oil| Of 788 issues traded on the To hit by profit-taking. The only from Western Canada and the ronto Stock Exchange, 248 ad bright spot during the week oc-| ban on natural gas exports were vanced, 383 declined and 157 were curred in the gold list and this'reasons for most of the losses, unchanged. Trading was heavier group tarnished Friday as in- !brokers said. than in the previous week with a vestors cashed in on profits. In the mining list golds drew volume of 12,980,000 shares com- With Wall Street drifting lower, the greatest interest. Brokers pared with 11,906,000. Canadian markets followed. {said investors are turning to TORONTO METALS OFF Banks touched off some selling golds as a hedge against the de-| Index changes at Toronto: In- midway through the week and clining economy dustrials off 3.25 to 410.31; golds {royal was the leader in the group. | The reasoning behind this is|yp 1.24 to 80.30; base metals oft os day royal d itthat the United States is com-| 47 to 146.35; western oils off. ol |will offer additional stock to| mitted to pay a fixed price for|2g5 to 124.93. IL |shareholders at $37.50 a share gold and that it is reasonable to| Index changes at Montreal: ou | for every five shares held. assume costs of production will Banks off 1.32 to 46.39; utilities i The market reaction was a decrease in a declining economy, off 7 to 139.2; industrials off 2.7 93 177,184.75 loss to $50.25 by Royal and they said. lto 235.0; combined off 1.6 to ow " {$1 declines by other banks be-| Coppers went the opposite way. 202.7; papers off 14.98 to 1082.82; 8 fore the end of that session. On An American custom smelter an-| golds. up .55 to 68.17. in 8 |the week, Royal lost $6.25 at $58, nounced Wednesday it made" volumes at Montreal: 214,776 24 isn Bank of Montreal and Nova Sco-|sales of copper at 23% cents a 4 Cuts Watchword E {| Of U.S. Business A713 a a. 2% 2 | NEW YORK (AP)--More cuts,) 8 4% more retrenchment. enhower used the word "reces- That seemed to be the watch- sion" at his weekly press con- New Hosco 1125 1! 9 14 word this week as business in ference for the first time, WINDSOR (CP) --- Approxi- New Jason 24000 ¢ 6 the United States entered the Prices made news, mately 30,500 vehicles were as- N Seiore ne 7 Vis crucial month of March. General Electric Company sembled in Canada's automotive N Man 3500 27 25 Over-all the picture was any- triggered a pint-sized price war factories in February, Ward's N Minda 2/00 y 9 thing but bright. An occasional in toasters, clocks, radios, irons Automotive Reports said Friday. €D Sug G Semson Noiviam 340. 24 4'ray of sunshine pierced the and other small electric appli-| The figure includes an esti- go oy, oe i zn C Discovry 15903 N Senatcy 5000 1% 4 (gloom; here and there a few ances by junking its long-estab- mated 25,800 passenger cars and C Marconi 240 --20 C Fen Nick Rim 265025 5 81 |hundred idle workers were called lished 'fair trade" program. 14,700 trucks. In comparison, Jan- a Nipissing 15600 i % 4% back to their jobs. | Previously, in states having uary's yield was 33,097 units (28, But these instances were over- fair trade laws, GE had set its|235 cars and 4,862 trucks) and was 26,296 (22,075 Con Gillies G_ Arrow 2 22 4 Halliwell 24500 28 25 2514 vi % 13 1 8 8 Howey 2760 35% | shadowed by a new wave of in-|own retail prices. Merchants who|December's It hit workers|sold below GE's prices could be cars and 4,221 trucks). | Scheduled this week, Ward's Marben 12100 % Macey 25 " 4 - - 7 [dustrial layoffs. M and 8 6315 Normetal 225 | producing steel, home appliances, brought into court and fined. 50 Norpax | loil field equipment, auto parts This week GE lifted all price said, were 6,680 cars and 1,185 pied N Rank 87580 and cars. restrictions and stores started trucks, Last week's output in- € Niehol 26606 Northsp 73038 American Motors Corporation, cutting left and right. Steam irons cluded 6,220 cars and 1.250 c Berson Sobe Ly 50350 the only one of the U.S. auto-||isted at $16.95 sold in New York trucks. In the corresponding C Regeourt 31400 Norvalie 325 makers that has boosted its 1958 at $9.72-Virtually at cost. A GE week a year ago, 9,029 cars and & Sannorm 29000 Nudul 5500 14% production, will close its Milwau- rotisserie oven, fair traded at 1,682 trucks were turned out. pli Fon MER |kee and Kenosha, Wis., plants 8995 went down to $71.95, then] Most of the nation's assembly Conwest"* 2100 jp Sue, wedk Saving Monday. to $62.96 and finally to $55, [plants PrOSTammed five work op Corp 5 me workers wi ou ays the final week in February. Sop-Mah oo The week brought new evidence | OTHERS FOLLOW SUIT Fp Rt ie was Chrysler Fig Sopra; that big business is putting a| Other fair trade champlons--|whose Windsor passenger car as- check rein o its bold expansi- | Sunbeam, Ronson, and McGraw- | sembly line ran three days. programs stern Electri n-| Edison's Toastmaster division--| Ward's said that output of ve pany postponed a start on a $20,- soon followed GE's lead in the hicles in 1958 through February 4 {000,000 plant near Lee's Summit, 'plunge off the fair trade band-|trailed the first two months of 374 | Mo. A spokesman explained: "We | wagon. 1957 by more than 17,000 units, 33 |want to wait for the economy i stabilize." tv ee 2 Livestock Producers" Income Increases In "57 450 U% $44 AY Shawin Shawin A pr Sicks vt Siiverwd A Silverwd nf Esrrused 8 «8 $ see 3 £3 i=] > L > y.udue High »y >» vw °3 ILE Eoukau > CERT IEP 28a tian olt. - So 160 Wh n " 140 5 ++] +4] LE aS an 3°33 » PETES * glee 18 26% 4514 "hn 20% >» 14 + - = Tamblyn Tr-Dom S%ateBal Ang Pulp pr 380 Bx wit Anthes Imp 367 Arcan 675 Argus 735 Argus 2.40 pr240 $49% Argus 2.50 pr 275 pd As BR Derple 1028 200 re] A ye debs 311 $103 A Art wis 959 500 Atlas Steel 3550 $16% $5144 estefan SET BR J J lartin Matatch Maybrun Mcintyre Sgifels ~3 3 11 19 - 35s cue Re > 30 $1744 3 J veo 3S - Bageuns i Er > seotsslserep.eiienaise run, demgyssuzges oavsn.eumzscusd < * idadiis 0] ++ F FESEF Fr sBoxue Ste | + > 331 3 3gek industrials and 1,930,831 mines compared with 215,891 industrials and 1,702,601 mines the previous week. Of 356 issues traded, 94 ad- vanced, 163 declined and 99 were unchanged. 130,500 Auto Assembled 485 175 10 300 26% 5% 8 500 -178 $10 328 $26% $544 $84 w¥z3 > fort 1-4 «sis > + PETTY TTI] - @ F > Bowat 5% pr 203 Brazil 1314 Br Tnk 210 Br Tank pr 100 Br Tank wis 275 Bright +100 BA Oil 175 4553 1865 5 «Ra8i S¥easec. e¥danatan. Weston 4%p Wstn 6pc pr West A wis White 1 pr New Delht 29200 N Dicken N Fortune N Goldvue 33000 N Harri 14875 13 N High 4000 13 13 13 9 13 In Washington President Eis- BOE 5% pr BC Forest BC Pow BC Phone $90 90 SK 11% oT C Callinan Con C Cad best Asbestos Denison Burlington CD Sug 0 C Burns i 26 15% 240 hd -% 30% 30% - 0 60 63 $15 15 15 $17% 17 17% $24 23% $78 76 $30 30 30 $414 40% 41% + W $5 3 4 -- % HH $63 + % -- 8% +2 > Morrison > Mosher Con Negus Ci Cc C C Cc C Cc C Third CG Zellers Can Wire B 100 C Bank Com 3038 Acm Ajax AP Cons Am Ledue Anchor Anglo-Am Asamera Bailey § A Balley 8 pr Bail § 5% p Banff Bata Bralsa Britalta Calalta e Gas 1300 Obaska O'Brien Ogama Oka Rare O'Leary Opem Orenada Ormsby Osisko Pamour Paramagq Parbec Pardee Pater Paymast Pce Expl Peerless Perron Pick Crow 23714 Pioneer 16825 Pitch Ore 13000 4000 5600 + " 6200 7 9 6 22200 nuk Yu dial 18600 870 875 20 11 19 25 "2 2600 8133 30100 80100 316% $6% $26 25% 183 3 1 16% 16% + W 6% 6% BY --1% 8h -- WH 18 4 8 --% 13% -- % 8% + W 14 13 Can E4 23% C Ol Las $13% 386% $21 $15% $5014 Yh Cdn Pet pr 488 Cdn Tire 25 C Vickers 410 Gas pr 120 C Chieftn 26250 C Deca wts 98765 Cdn Dev 13240 C Ex Gas 430 C High Cr 3100 C Homestd 15415 Cc 6220 Cc 3 2900 Cc 3425 670 E Amphi East Mal East Sull East Asb East Met East Min Elder Eldrich El Sol 5 425 380 Pronto wis 14560 22 7 Canso Nat Canso Oil 1116 Cent Del 22155 Charter OL 3900 Conro 6750 C Allenbes 6000 C Dragon 2700 C East Cr 1559 C Mic Mae 11439 Con Peak 500 C West Pete 1000 Cree Oil 4140 Cree wta 11150 Crestaur Croinor Crowpat Daering dustry investment in new No and equipment may decline| steadily through 1958. Building in- | awarded for factory construction | By DAVE OANCIA By November, Canadian live during the first month of 1958) Canadian Press Staff Writer [stock producers, chiefly from th Pros Air 4200 rom [ ] Purdex 4000 were down more than 50 per cent| OTTAWA (CP) -- Higher live: prairies. were shipping south 22.- Que Chib 14700 M4 A faint glimmer of hope was tle sales, partly to United States » Ito th 3 § so fue Cop 16068 7: ed # | provided by Roger Blough, chair-| buyers, boosted the income of, > ie U.S. in 1957 were 372,442 ureka Que Lal | f Utttod States Stoel Corp. Conan Doeoock: prog i jos e, nine times greater than Expl 4 Que Li {man of Uni! ates Steel Corp- Canadian livestock producers in [the 45,746 exported in 1956. Faraaay a Meal Ihave improved a bit in the last|13-per-cent increase over the pre. NINE PER-CENT DROP ; days. vious year. Hog marketings in the year The agriculture department's were 5,400,239, a drop of nine per is 125 E : Plead Not Guilty "n hi Fed Kirk Fla Can Francur Frobisher Frob debs Gaitwin Radiore Rainville Rayrock Renabie Rexspar Cusco dustry sources said contracts | Que Ascot 4500 from year-ago levels. /stock prices and increased cat-10gp head a week. Total shipments 29 Expl All 1 _-- 20 Que 2 | oration. Incoming orders, he said, [1957 to a record $665,000 F'west T Quemont annual review of the livestock cent from 1957. All provinces ex- market, released Friday, said {cept Nova Scotia showed declines. the greater gross value also re-| Hog prices in 1957 averaged 6429 30 13500 Equit Life Fam Play Fanny F 1 15% $30: 29% 29% -- % 68 $39 26% © 4) 8 9 Dev-Pal 8228 Dome Expl 870 Duvex 11200 Excelsior Gr Plains Highwood Home Oil Home Oil HB Oil G Humber Jump Pnd Jupiter 3000 A 2854 B 374 1724 13400 5000 6 Lib Pete HO 5 Bad rans $7 > Marigold 445 831% 30% Medal 85 $1054 104% 1044 +1% Midcon 38 8% -- % 201 BU VU -- WN iy SN Mackay B 100 5 5% + W No, Pela Caner io A » N Chamb rH] N Concord 150 100 1170 120 125 200 Great West Gypsum Hahn Hard Carpet Northld 4000 Okalta Pac Pete Pan West Permo Peruv Oils Petrol Phillips Ponder Provo Gas Quonto Reef Exp Richwll Rocky Royalite Royalite pr Sapphire 1800 Scurry 6910 Secur Free ns Souris South U Spooner Stanwell Hees Hendshot 8400 12002 13300 11800 900 750 1612 1300 58695 6500 7000 1425 Pete 36399 6450 100 Hur Imp Bank Imp 1m Imp Imp Tob Imp Tob pr Ind Accep I Ac 2.75 pr I Ac wis Inglis Ingram B pr 100 Inland C pr 1575 Inland Gas 35 Inland 'G wts 800 Inland G pr 700 Int. Pete 513 100 Oi 675 370 10% 10% 785 425 10% 13% $15% 15 2 10% 40% 12% 420 440 32 $10% 41% $12% "0 1200 3368 420 11258 Kelly D A 200 Tex Cal Trans Can Trans Em Tr Em rts 2000 1200 24532 2100 L N $20% 20% 316 295 $8514 Labatt 2165 Lakeland 10115 Lakelnd deb 294 Laura Sec $194 Triad Oil 13310 Lob 1 pr $30% b+ y Un Oils 231138 Lob new A 8 + U Oil rts 1318825 ou Vulcan Wayne Wespac W Maygill W Decalta W Dec wis W Naco Westburne Windfall Yan Can Curb Dalhousie SW Pete Loblaw pr MacMill B 1350 Mass-Har 10740 Mas Har pr a Maxwell McBrine pr McColl Mex LP Mid West Milt Brick Molson A Mont Loec NN) A 5% Eo 1228 310 4100 1% 2 | 16% 64% 15 13 8 8 Mines A and B fly Th + YU 249 250 7 10000 900 800 +++ FEF FFEC° +1 Acad Uran Advocate Agnico Akaitcho Alba Expl Algom Algom deb Algom wits Al Roxana Am-Lardr Amal" Rare Anacon Anglo Hur Ang Rouyn Ansil Apex Res Arcadia Arcad wis Area Arjon Atlas Yk Atlin-R Aubelle Aumache Aumaque © Nat Gs 3459 North Star 1980 Nor Star A 100 Nor Star pr 150 N Star wis 1360 N St wits 56 «300 N Bt wis 37 850 Nor Phone 600 Nthid Utd 150 2 494 $154 14 . 3 3 $1446 1 o 250 $144 13% Ocean Sup oy 0 Jockey 575 O Jockey pr 225 © Jock B pr 100 0 Jock wits 500 Orange Cr 475 Page Hers Pbina new Powell R Pow Corp, 19900 191900 2600 4800 1300 Q R Little A Roe AV Cn 10219 5 366 Beaucage Beav Lod »4 Belcher Galkeno Geco Mines Genex Geo Scien Gnt Masct 4100 1190 500 St Michael San Ant Sand Riv Sheep Cr Sherritt Sigma Sil Miller Siscoe Slocan VR Stdcona Stanleigh Stanigh wt 26710 Stanrck 18655 Starratt 36920 Steeloy 19000 Steep R 17855 Sturgeon 2800 12 Sud Con Y 4 5 Sullivan 2 3 1 Sunburst 9 U4 Surf Inlet Sylvanite 12000 to 306150 1 55725 0 --3 4 35800 Grandroy Grandue Greyhk Guich Gunnar 13248 Gunnar wits 3380 Gwillim 397300 Halinor Hard Rock nin -Min 16000 750 1000 108700 14000 H akes Headway Heath Heva High Bell Hollinger 8500 Tandem 'Taurcanis Taur vt Teck-H Temag 135 18 Ult Shaw U Mining U Asbestos U Estella Un Keno U Mont Upp Can Vandoo Ventures Kenvills 64 5 6 Vico Kerr Add ™T TB Bn -3 20% 18% 18% 170 140 148 + 78 72 32 un 13 14 395 360 185 70 Hu it} 383 31s 181 68 L Shore L Wasa La Luz Lamaque Latin Am Leitch 370 315 180 60 180 Yukon Con 22818 +5 54 'To 15 Charges CHATHAM (CP) -- Two Blen-| involving the Ontario Farm Prod- ucts Marketing Act. Clarence and Gordon Knights appeared in court Friday to an-| swer charges laid by the Ontario Hog Producers' Association. The trial, expected to be a test sulted from sales of better qual- ity animals and sharply higher, hog prices. "Domestic demand throughout | plies were never burdensome |and weekly clearances were the rule," the report said. Cattle marketings hit a vecord| 2,604,968 during the year, an in-| |crease of 12 per cent over 1951. {This resulted from increases in | $29.70 a hundred pounds, up al- {most $5 from the $25.20 of the previous year. Despite smaller oi the increased value heim livestock dealers Friday the year and export buying from pushed revenue fr h (pleaded not guilty to 15 charges May onward were such that sup-| through evenve Lom ng Siler almost $255,000,000, {since 1952. Exports of fresh and frozen pork were 29,500,000 pounds, a |drop of 28 per cent from 1956. Bas con and ham exports in 1957 to talled 4,700,000, down 42 per cent the highest 314 | . Ghost Of N.S. Fortress * Lives In Local Legend LOUISBOURG, N.S. (CP)--The| A committee of mayors and of- Britain decided to remove the figure of a bemedalled French ficials of Cape Breton county 1iS/ihreat to her colonies once and officer moves silently through planning a bicentennial celebra- ruined battlements, pauses be- tion of the final battle next sum- {for all, and after the final cap- fore a row of rusty cannon, and mer. ture by General Wolfe demolition | disappears among the shore for- D. W. MacKinnon has been crews worked for five years to] tifications. caretaker of the ruins since 1931.(level the wall, houses, and for- The officer died 200 years ago He and two part - time helpers | tifications. in the final siege of the "Dun- ge 0 1 have excavated sites of the cit- RESTORATION STARTED kerque of America' but he will adel, convent and hospital. Doz-| ) probably live for ever ir the ens of relics found in the excava- Until 1928 the ruins lay forgot- legends surrounding the ruins of |ten. Fifteen families lived on tions are housed in a stone mu-| the most famous fortress in Can-'seum opened in 1936 by Lord farms on the rocky promontory. ada's history. His ghost is one of| Tweedsmuir, then governor - gen. 1hen the federal government several local residents claim they eral of Canada. {gan restoring and preserving the see moving silently among the| Standing before a scale model |Site. old stone walls, of the once - mighty fort Mr.| Caretaker MacKinnon's hope is The walled town that Louis XV | MacKinnon runs through his spiel to see the walls and buildings at of France built in 1719 and Eng-/for 20,000 tourists each year. The least partly rebuilt, It will have land's General Wolfe destroyed model, made by honorary curator to be done with new stone be- in 1758 was made a national his- Katherine MacLennan of Sydney, cause the original was toric park in 1940 25 miles from here, shows the away when the fort was de TOWNSITE NEAR FORT ancient town circled by a 30-foot Stroyed. Many buildings in Hali The present townsite is a mile stone wall and moat, and brist- fax contain stone from here. east of the fort. If it keeps grow- ling with cannon "I haven't seen a ghost in my ing at the present rate it will In its brief, colorful history the 28 years here,"' he said "though reach the fortress' population of fortress that cost $10,000,000 to local people tell stories that 5,000 in 2040, Ibuild changed hands four times. would stand your hair on end." carriec | ino livestock production In the tra- of legality of the kod marketing ditional grain-growing provinces a oe ee ie of Saskatchewan, Manitoba and | Alberta. keting Board as an organization, |is to continue March 24-26. | PASSED MILLION-MARK ing the year were 598,979 head, Gordon faces six individual| Calf marketings in 1957 total- about 10,000 less than in the pre- charges and Clarence five of fail-|led 1,033,580, passing the 1,000.- vious year. Foreign trade of both |ing to permit inspection of their p00-mark for the first time. live and dressed animals in. records, and assembling hogs During the first part of 1957, creased sharply in 1957. Most of {produced in Kent and Lambton |cattle prices showed a downward|the sales were made to U.S. buy- | counties for slaughter "at a place trend. In the five-month period, ers. other than that specified" by the April to August, good steers sold |hog producers' co-operative. at a relatively stable $19 to $20 Both men face charges of "vio-/a hundred pounds. lation of the interprovincial and| The big movement of cattle export regulations," marketing across the U.S. border started hogs without a licence and ship- (in May when the American mar-' {ping them without a licence. ket began to climb steadily and | §. L. Clunis of Chatham, law- (sharply above that in Canada. yer for the Knights, said he|Keen competition from U.S. buy- would call as many witnesses as ers kept feeder cattle prices at necessary to test the validity of strong levels during the fall per-. the marketing act. iod of heavy marketings. More Vigorous Policy 'Bpproved By Contractors | NIAGARA FALLS, Ont. (CP)|steady increase of jurisdictional A 'stronger and more vigorous disputes and wishes to co-oper- policy" was approved in a resolu-|ate fully with labor through joint tion Friday at the Ontario gen- meetings or other avenues in or- | |eral Contractors Association an-'der to eliminate this evil." = meeting. | The report of the standard "New and powerful agencies," Practices committee presented a live resolution stated, 'are grad- Number of recommendations con-| {ually encroaching on the general cerning tendering. One stated) | contractor' s power and responsi. that if sub-surface conditions at a | bilities." |construction site vary from the| To meet this situation the reso-| information indicated by draw-| [lution provides for a full - time |ings and specifications, the ten-| {managerial staff and quarters, der price shall be subject to re-| {and raising of membership dues negotiation : {from the present $25 to $100 a _ A. Reginald Timms of Welland year. first president of the association Membership now totals 114 con. When it was formed in 1939, war [tracting firms and further mem- presented with the association' |bership and growth will be first honorary life membership. sought through establishment of 4 4 = association chapters in 10 geo- graphical areas of the province: Toronto, Hamilton, Ottawa, Lon- don, Kitchener, St. Catharines, Windsor, North Bay, Kingston Windsor, North Bay, Kingston and Fort William. N LOCAL LEVEL A further resolution advocated "that management-employee ne- gotiations with regard to wages and working conditions in the ~onstruction industry be carried out at the local level, and that he only criterion for these ne | 2otiations he local living costs, | legrees of trade skill, productive lefficiency, and business condi- tions existing in 'the individual locality." This resolution added: "The association d {from 1956. Canned ham exports |dropped 57 per cent to 4,000,000 pounds. | Sales of sheep and lambs dur- children ( nap 21 VITAMINS MINERALS and TRACE ELEMENTS The dietary supplement with the 5 delicious condy flavour CITY WIDE FREE DELIVERY Thomson Kernaghan & Co. Lid. STOCKS AND BONDS Member Toronto Stock Exchange 16 King Street West, Oshawa Phone RA 5-1104 the