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: { ; 1 BRR pe | Di ble Up [me ames ; | : T 1SP Oo sa e nc ome P pease doar Seerase coms hoor 1 oronto, Montreal Stocks Es =F pas i E By $1,300,000,000 Not for future spending. sy Wigh AN bin. Oh'ge Wook Bales Wigh Lew Il a.m, Ch'ge Stook. Sales Wigh Lew 11 a.m. Ci An Increase of 1.4 per cent In 74 rll ro Bag gli 1 IF ay purchasing power is not consid- 000 6 6&8 $000 8 170 170 Int R 000 24 UW 1 gpow 60 VIBgs TI TBM + % By HAROLD MORRISON (disposable income rose by an un-(ernment funds to econsumers--di- ered large, but the economists HA oe = Lon Com Canadian Press Staff Writer |usual six per cent in 1958 to some|rectly through higher old age|feel iti 5 significant in view of 21400 CsL 7 89 WW OTTAWA (CP) -- One of the|$22,600,000,000. pensions and other welfare bene-|t: e recession, The increase com- 1810 € Bk Comxd 150 . most remarkable developments| In making this estimate, eco-|fits and indirectly through lower|pares with sharp rises of 4.9 per 14 Cem un Bh WS on the 1958 ecopomic scene was nomists point out that total labor |taxes, cent in prosperous 1955 and 6.3 400 © Bronze us Bo» the estimated sharp $1,300,000,000 earnings Increased by two per|HALF IN PAYMENTS per cent in 1956. 0 A MI ek rise in disposable income at a|cent, to some $16,100,000,000, but| They figure, in fact, that about| On the basis of the January-- CPR time when real labor earningsi|this rise was countered by a two- one-half the $1,300,000,000 rise in September nine - month trend, were relatively unchanged from |per-cent rise in prices so that|disposable income came from|government transfer payments last year, real earnings were just about|these so-called higher govern-|increased to an annual rate of Disposable income' is the what they were in 1957, {ment "transfer" payments. $2,600,000,000 in 1958 from $2,100, mount of money left to Cana-| But average purchasing power! On a per caplia basis, purchas- 030,000 last year--up more than ians for spending on consumer as expressed by the higher dis- ing power in Canada increased|23 per cent, Part of this sharp ; I" oods and for savinge after they| posable income did increase, the|by about 1.4 per cent--mainly be-|increase reflects the rise in the Maritime 2250 1 05 106 ay "their direct taxes. Savings economists say, mainly because|cause of the higher transfer pay-lold age pension to $55 a month 1 Matateh tut nw n> nd spending both' went up as|of the greater distribution of gov-iments---compared with a decline|from $40 and $46 In 1957, §layoiug ------ Sa th bani iohiisbiginasiodnidl ache McMar Meta Uran Midrim Milliken Min Corp 480 W% Nama Cr ¥ nd C pr 17% Nat 2500 2 275 $84 B14 \! 7 233 $111% 111 FEF FEF FI Inter PL Iroq Gls Fr Maemill Mass-Fer 1710 $10% 10% Mitch Rib A 100 $F » Molson An x50 $23 2 Molson Bn 260 23 N §t Car B50 $174 1TH Noranda 175 $52 Bl1% Ont Steel 100 +1 ee - . . Norlartie Cdn Celan ul Norsyne C Curt W » 2000 Northsp no 2 C Dredge Norps A wis Pac Pete 500 $18 17% Cdn Ol y Nudul Page Hors 50 #3 3 CPR Opem 80 Penmans 25 $324 324 Cdn Pet pr A Ormsby 00 Piw Corp 2 2 Mm Con Gas Parbee M Price Br 210 S444 44 Pater 500 » Prov Trans = 0 813% 13% Patino Mris 200 $74 A Paymanst 1000 $10 10 § [*] Perron 1 J 660 $16% 164 Dom Tar A Aki 5 a |G Pick Crow 220 $30 0 Fam Play » » 2850 I [ . Preston 200 Ld + 464 S34 4% Fanny F Ll m I Pronto 200 25 842 42 Fed Grain 3 2 8 " 000 2 & ul Purdex 10 725 SI% 32% Py Que 240 368% 681 Que Chib Se FER "@ 2 nu 655 9274 274 Triad Oil 500 440 440 Canadian Abites 400 4) 4 100 $64 64 235° 925% Atlin Ruf Aumache Aunir ar Ww G 60 "e Barnat ar Wpg Gas = Base Met Gr Woy G 2206 ®0 Wo B.Dug Greyhn 210 Belcher 100 #7 7 7 Bethim 4 on Boveoh Sherritt "Wl err Bleroft Bil Stand 150 HIE 500 32 " A 2 J d : 34 Wh 00 i 3 1 100 : : $5 35 38 jo Ng Slocan V R I Bouzan Stanleigh Hi 19 ] A Stanigh wts 3 3 Tafand Gas 200 Bralorse Te MR Tea stanrck 500 160 160 160 + Prem Stes] 900 435 455 ' 45! 11) 0 0 360 360 360 Steep R A Shop Save 8 Inter PL Brunswick FY " - 1 Sturgeon 1 T Fin A 125 #4 Ton Co % #4 Bunker Bi Sullivan 200 ' Trans Mt 3500 $12% A + 200 ri ] "5 » camp Chin 7 Sunburst Waterman 200 86% > M Leat Mill Y Dy, 8 Surf Inlet 5 L Massey F 85 +3 Taurcanis A 8 5 Mines I's 0 Mass. FI" pr NL 5 urean v "he Mid Pac an: 333 % 4 ill Molson A a : wo fo 7 irri 18 s wT Anthonian 4000 | . . / Chester Arno 1000 : Before the clock rings out the hour of midnight and a brand New Year bows in, Power Management Chib M J 2 U Athetios 2 Bateman 7200 ' and Staff takes this opportunity of expressing our deep appreciation for the enthusiastic support given 0 Jock wis $ Coch il EY is 38 Yauudos " i BE 1 us in the past year. Oni Steal ' ! OW Ah TA Weedon - a Burnt Hil 2000 i : The understanding given to our many problems thot comes with a "fast growing family" -- Phina 800 Conia : Wr Harg Ch y We pledge our continued efforts towards making Power Super Markets a MORE enjoyable place for SHITE w ggessSrnnece Curb Yukon Cin / Cap Lith a you and your family to Shop -- to you and yours our best wishes for a happy, healthy "POWER Cent D Rio - Co Dre we FULLY" GOOD 959. ! 1 J8} 3 n Roe AV 88 xis 3% %H W J 3 ! Sales to 11 a.m. 638,000, C Denison Raval Bank 3 £ Fes 643 » " » - Dolsan Y shor a wt Cosimo 8, " MONTREAL por ; Special ! Special ! en % a ¢ Hother ( ° 1 Montreal Stock Excha Dee » Gasp oil 10 | P x peciq : 1 . Rege : . 3 ' . v Gold Ag 73 7 3 a " EY Eo even Sen Hollinger x0 gio 304 30 DEVERN BRAND RINDLESS POWER GRADE 'A' LARGE Montgary » 'an Suptest Ord > rights, xw-- Ex-warrants.) T-Dom Bk xd 78 0350 New Cal Torgd bk n #0 3" 500 3044 304 Industiials N Jae L Obalskl 5 1 0 E 1 0 . 11:80 Net Opemiska 900 900 + h East fu) 9 Stock Bales Migh Low .a.m. Ch'ge El Sol ! \ Abitibi 800 8364 64 + W 3 foe Fara wis 0 22 - Algoma 425 9364 36 36% Jou ge wis 3 ah Fatima Ld 0 1051 3 0% + W Tove ' 230 Ve Que Of A | "" Red Crest 4 » » 3 Asbestos 3 3 22 28 2% + W 2 St Law Riv i 5 = id y 3 + WU Sherritt Wood JA » 60 os A t | . Gold Wagle 3 Bank NS xd 150 6A --1 Sullive 200 128 Man + Grandroy 2 . Rank NS rte 225 535 525 828 Tazin > 2 J 56% 56% Titan Grantue ! Trebo; 1 8p 1-LB Gulch 2500 3 3 a 50 nh W x hoy . Gunnar Bang PO ris 1010 465 460 vw I» L ONE Gwillim Bell Phone 107 a% Yalor Lith 7 7 SEALED Har Min 18 5 p Bowater M22 [] irginia 1000 18 Bete t's 20 Ei Siiaer ot 4 BA Ol or 3 » ann Sales to 11:30 : Industrials 29,300, DOZEN - a0 43% J . ales 3 am: ustrials doo, I rr "A MM Mmm 12% 12% mines and olls 121,200 PACKAGE Royle ! ; > Forest 100 "0 me. ai LL Hud Bay k Rida BC IN CARTON North Canada's Future Soviet Union, Nasser | an sein | Cyrus Eaton Predicts ign Aswan Dam Pact Coca-Cola ::: 29: {Union and the United Arab Re- | U.A.R. commodities, a Joint com- BEIGNIORY CLUB, Que. (CP) of bungling U.S. foreign policy literate American defender of public on Saturday signed the munique said. i 7 United States industrial czar Cy- and endangering peace. Russia not on the suspect list of agr t for im ting the| Payments made by Egypt will| ve 2¢ HUNT'S rus Eaton received 75th birthday | GIFT TO WORLD 'the FBI first stage of the Aswan High be used by the Soviet Union for! Save 2c v greetings from Russia's Nikita Firing the secrefary would be, Mr, Eaton, who visited Russia Dam. [the purchase of goods in the Pickles and Olives 20.02. Khrushchev hut none from Pres: 'the greatest New Year present in September and met its power-| The agreement calls for the So- Egyptian region of the UAR. | . . T MATO 1 E 2 25¢ ident Eisenhower, |that could happen to the world," ful Nikita Khrushchev, said the viet Union to lend the U.A.R.| The first stage of the dam in- UNICO COCKTAIL Ins The Canadian-born head of a said the outspoken Mr. Eaton, Russian government can be! 400,000,000 rubles (officially equal|Volves building a cofferdam and . 8-ox. ¢ $2,000,000,000 industrial empire| who left his native Pugwash, |trusted and he believes Khrush-|to $100,000,000) for material and|!'rigation tunnels. The final stage Olives Jor 19 . observed his birthday Saturday|N.S., as a youngster to go to the chev when he says he does not|technical assitance in. the first|WVill involve building a hydro: MCLAREN'S. PLAN Save 6c LYON'S by making a new plea for West-|U.S, and win and lose persona! want war. |four-year phase of the project. electric system as well as a " 9-02 ern tolerance and understanding | fortunes estimated up to $200,000,-' He said he explored the idea| ' withdrawal of United States massive stone dam and creation Queen Olives Jar 33¢ TEA BAGS "THRIFTY FIFTIES" 39 of Russia in the interests of world 000 of Khrushchev visiting the United support for the dam project in|°f the largest man-made lake in peace "Dulles is 30 opposed to Com. States and Canada and Khrush-|1956 was followed by ject la the world. GATTUSO STUFFED COLOSSAL PACKAGE And he blamed his adopted, mumiam that he is willing to risk chev said he would iike to do 80|tion of the Suez Canal by Presi-|, Work on the project is expected Olives 24-01. 97¢ ' Nization in| i r ; to begin in the autumn of 1959 Jar w States-m ially|the whole fate of civilization in/but would need invitations from dent Nasser who said then he in. J \ . i mited States--more specially Reuters news agency reported SLU. HOSE & MART ANILA POWER also have an excellent choice of DUCKS--GEESE--CHICKENS its liticians--for most of the all-out war,' said Mr. Eaton, who President Eisenhower and Prime tended tn use canal receipts to n N i, existing between Fast has been described as the only Minister Diefenbaker. finance building the dam. from Sti orl Suis = FTI an ~--SMOKED HAMS--FRUITED' HAMS aot attractive prices . . . also and West. 4 ~~ |port of Middle East Communism Olives or: QC | available o good supply of unsurpassable quality "Maple Leaf" certified The veteran crusader for world in a bid to woo Arab national- ROSE SWEET MIXED OVEN READY TURKEY, wemaen Burope Convertibility Ee | li 585 | rat ane | Sui Jipiomatic recognition - Gher Re toon . LE. . sacs Of Interest To Canada)Good Year sin ot | COFFEE 89 a move which he suggested could cdot force the United States to follow Save 2c PETER POWER : By FORBES RHUDE ithis situation. But it follows the dollar areas, These could convert F E ports | ROSE--SWEET suit or compel the resignation of import trade relaxations which their sterling into one another's or X | Si QUART { Sec of § s,|Canadian Press Business Editor oh Se Tete of State Dulles Canadians have given the word she announced at Montreal in currencies, but not into dollars.| MONTREAL (CP)---Frank oT Wafers 33¢ 2 ¢ -- . Co" | "convertibility" such a wide September and her announced in fact, however, in recent years Sherk, president of the Canadian BOTTLES | meaning jn recent years that it/plan to proceed with further re- they developed a system of con- Exporters' Association, predicts | PLUS DEPOSIT laxations as they become pos- verting sterling into dollars, and|in a year-end statement a good - ny Science Experts [ny SALLE SOs CORUNGL Th UY. tire the Bank of Kngland supported (export year for 1950, and urges EVERYTHING AT POWER IS GUARANTEED derstandin, ital d Europe. The current development indi-|the conversion rate at slightly be-/exporters to make a real sales ; ments ib Srila and Egrope cates that Britain feels her eco: low the official sterling rate. Un- effort. TO GIVE 100 % SATISFACTION Tasty Cheeses | As used in representations from ) ip Q ' "" S tM : nomic strength -- first asserted der Saturday's announcement, Travel abroad and sell." is------------------ -- m-------------------------------------------- ugges ore jCansdiuy truge Sra Rartienl | jin confidence at. Montreal conversion may be made without|should be the slogan for the com- SE7IR. DOWER TANGY ard, ritain-- o continues to increase. {question and at the official rate [ing year, he stated SPECIAL! NAME BRAND , . . SMOKED Old Cheese 1-1b, 59c¢ Broad Research >» mowiary and a orhdef Outside the trade area, the an. The third division was, in ef-| "A good place to start this BONELESS HAMS NHOLIOR 5 65¢ WASHINGTON (AP Presi.| convertibility of currencies and nouncement indicates that some|fect, North America or the dol (drive would be in the Common. PETER POWER F : 9, 5 4 Frc mah Canadians may get an immedi lar area. Sterling held in this|wealth, where markets are open. | dent Eisenhower's scientific ad.|removal of trade restrictions (NTCIR OE TL 8 LET ren, If earned with approved ex-| SPECIAL! MAPLE LEAF , . . SMOKED Cheese Slices 80x. 29¢ N Isers have suggested more em Rn . . Let us dust off the file {which discriminate against goods " . " b + 3 TOR up. | HALF P 24 Barney These are Canadians who have ports, was convertible into -dol-|and revive old contacts there and! [J] kg. phasis on rong research, less on from tw dollar Fu Hai {acrvived sterling in some manner|lars. This situation remains sub-|averywhere." COTTAGE ROLL CRY-0-VAC 1b. 59 KRAFT sLiCiD Radget-making hd '"'remova rade re. other than through export--such' stantially unchanged. Mr, Sherk--who is president of MAPLE LEAF SKINLESS N 3 6-0x | Ls atural Brick 5" 37¢ The advisory committee of strictions' was the principal part/zg hy bequest i. . . 7 N n i § . | To say what Saturday's an-/H. J. Heinz Company of Canada| 14h. Pk fentists t t ernmen f th | " " 9 y y J h «Ib. 9 ~ § Hig He JOVePuat jo] the Pina In the early post-war years a nouncements don't do, Is mot to|l4d.. Leamington, -- said an ad. PURE PORK SAUSAGE Carton 45¢ KRAFT DELICIOUS now paving ahout half the bills| The convertibility announced considerable sum of such uncon-| underestimate what they do. vance in exports is likely by the for all US. research. and develop: Saturday is a monetary one. You|vertible sterling accumulated in summer, though much would de- SHOPSY'S ALL BEEF SHOPSY'S ALL BEEF Parly Snacks 4-oz, 23¢ ment--that too much attention to/can convert one currency into|Canada ENTHUSIASTIC REACTION ; Pk A . ae [pend upon business conditions in 1-Ib. 11h. 9: mechanical things could lead to/another to the extent that the Later, as. Britain relaxed her, Western world reaction is al-|the United States \ FRANKS Pkg. 55¢ SALAMI Chub 73¢ CLOVER VALLEY --All Flavours "an impoverished science and a relaxations. allow restrictions, it hecame possible to/most unanimously enthusiastic| 1, regard to Canada's trade 8-0x second-rate. technology ; It has little to do with trade transfer such sums to Furope and and is expressed in the words of [imbalance with the United States ONTARIO NO. 1 GRADE Cream Cheese Cello Pk 31 The group said it was not pic: restrictions, except that the/convert them into dollars at a|Per Jacobsen, managing director) hich levelled out a bit owing to POTATOES 10 1b. 29° ah [ov turing present US. science As monetary action gives increased |slight discount from the official of the International Monetary, drop in imports, Mr. Sherk Beg SEES : cursed with fatal flaws or defici hope for relaxation of discrimina- [sterling rate, Fund said ences, "but continued leadership tion against dollar-area imports.| Now, presumably, such sterling] "It is an outward and visible, "The proper remedy for the CRISP. JENDER, FLORIDA NO. 1 GRADE Ca ri Wale 25¢ In science will require a more Rritaln's announcement is of may be converted more quickly sign of the comeback of Europe imbalance is greater sales to the CELERY 2 Large 19¢ P Is Pkg. Helin and far Sighted effort on most immediate interest to Ca 'and at the official rate in world affairs." {United States. Thus, the figures Stalks WESTON'S he part of government.' nada Britain, before Saturday's an Or, as y P 4 : ; satis A ain, $ 1 a Canadian banker com: cannot be looked upon with satis . FECT Eisenhower praised the report Actually, however, so fur as nouncement, divided the "world mented faction but rather as a reflection PRICES EFFECTIVE TO 6 PM. SAT, JAN. 3ud Saltines ny 37¢ fore portance and timelines Canada is concerned, pounds|into three sterling divisions It restores sterling to its place of the slowing down in business." - - ' - - ke. and said he is carrying out im- learned in selling to Britain have] One "was 'the ste:'ing area id currenc padi-] "If 1) ol 'anadi CHRISTIE'S abu a 4 ok . : as a world currency its tradi the volume of Canada- . mediately one of the committee's' heen convertible all along Holders of sterling within the tional position--rather than as a| United States trade has slackened HIGHWAY Chi ¢ recommendations. But restrictions on the import | area were and continue to be sub-| sterling-area currency, which for|off, then our trade relations have at NO 2 1ppers Pkg. 29 This is for ereation of a new of Canadian goods into Britain|ject to foreign-exchange control(a period it had tended to be-|[taken a real plunge. The number - - . federal council 2 Science aud limited whe amount of pounds!in rega.d to sending their money come " of problems to be ironed out has echnology fo (1) achieve better|that could be earned. One wasn't|outside the area. The rew con-| Taking the : eo ar | ¢ announcements as grown. We appear to have made MO planning of ine or Nile pro-|allowed to earn more pounds than|vertibility doesn't apply to them. an indication of a stronger Fur-ino progress towards establish STORE NDAY 9 AM. TO grams supported by various gov. Britain figured she could afford Another part was the 'trans -jope, France's 'austerity" 3 P 3 i : : t p austerity pro- ment of a more favorable trading : ernment departments and (2) re to convert sinto dollars ferable" area. This consisted of|gram is one of its most important atmosphere such as should exist HOURS: WEDNESDAY 9 A.M, TO 6 duce duplication | Britain's action doesn't change cu ntries outside the sterling and aspects, Ibetween two close neighbors." ! WESTON'S 6 P.M. CLOSED THURSDAY, JANUARY 1 TUESDAY 9 AM. TO 9 P.M. FRIDAY 9 A.M. TO 9 P.M. P.M. SATURDAY 8.30 A.M. TO 6 P.M.