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| BUSINESS SPOTLIGHT tarlo stockers 28 - 26.50 with matched westerns up to 28;| Cattle Pricing [matched medium and_ stock; NET EARNINGS Canadian Deposits Fleming Dollar Fixing By FORBES RHUDE Canadian Press Business Editor TORONTO (CP) -- Interna- tional speculation against the Canadian dollar was a major factor in the timing of the de- cision to veg the currency at 92144 cents, Finance Minister Fleming told a press confer- ence Thursday. Mr. Fleming in effect re-, peated the finance department's statement of Wednesday night that the rate had been estab- lished "after careful assess- ment of all the factors involved, including the attitudes in the} foreign exchange market and the nature of the exchange transactions which have been taking place in recent months." Asked if the new rate and the government's intention to main- gs c t lators, he replied: "We think the action should} drive them out of transactions affecting the Canadian dollar. We don't rule them out com-} pletely but our decision fs no-/4 tice to all the world of the rate} f and approved by the Interna-|° tional Monetary, Fund (IMF) as realistic." CALL IMF? A reporter the speculators don't you? In addition to the re- sources of the Canadian gov- ernment, can you call on the IMF?" in asked: "What if b t Mr. Fleming said that in sim-|when we are in an operation next fall of a four-year degree ilar circumstances when coun-/9 tries with pegged rates had dif- ficulty maintaining them, as in v tl 56 PRINCE ST. OSHAWA Congratulations to .. . CRAWFORD CONSTRUCTION CO. on the opening of their houses at Lynwood Acres, Pickering, Ont. We were pleased to be chosen to do the electrical work. F d the case of the United Kingdom|heavy supply last summer, they were able to slaughter cattle, transactions of the Foreign Ex- used around 95 cents, are not an-\throughout the week on a board \nounced, but they had been|demand. heavy. March but April "and we came to the con-/sheep and lambs were steady c needs," tect the economy and the Ca-;week in 1961. Cattle receipts nadian people against the erod-/from Western Canada totalled ing effects of speculators." Rasminsky, Bank of Canada, stating there! 'tain it would discourage specu-|js where in the world." |ALLOWS FLUCTUATION 93% cents--and that the situa-/some heifery cows to 19; medi- established by the government|tion would be watched veryjums 16-17; commons 15-16; can- Walter ing replied that believe! with the situation. stopped to inform himself that/~he University of Sh , ithere are bound to be fluctua.) eo en issue from which he hopes to|Paulhus of the pedagogy fac- 'Open Unevenly ess: 21-23 with some light/ | Down During Week western stock heifers up to 24.| By THE CANADIAN PRESS | Calves: Choice vealers 33-35] Levy Industries Ltd., 3 mos.| OTTAWA (CP)--Government At Stocky ards of Canada deposits decreased TORONTO (CP) Prices | al Brae bs 36; good 29-32; |ended March 31: 1962, $342,081, 26-29; common 22-25;/37 cents . ret gh ibe conte 2 share; 1961, $213.19, yy $12,078,000 to $19,091,000 in } || Hogs: Grade A 26.55-27.95:) Minne nd the week ended May 2, the pegging gy «A trading for {heavy sows 20.15-20.35; lig tloomseuy 3 poole March Bank of Canada reported Thurs- of poor quality/{o" saining. 8 $2 premium; /31: 1962, $749,032, 31 cents ai\day in its weekly financial but by' mid. ,iaes 17.50 on a dressed weight! share; 1961, $494,629, 19 cents.|statement. : 0 to the IMF week the demand had improved : Supertest Petroleum Corpora-| Chartered bank deposits de- Mr. Fleming said that daily/and prices strengthened at the Sheep ro ac Good han- tion Ltd., year ended Dec. 31: 19/creased by $5,662,000 to $762,- Ontario Public Stockyards this\dyweight feedlot lambs 24; | 61. $1,359,851, 15.5 cents a com-|910,000 and notes in circulation week, jspring lambs 27-30 according to) | Choice $1,120,673, 12.5\increased by $4,566,000 to |$2,095,453,000. Backs hange Fund, which has been to maintain the dollar steady,Weight and quality; good light)mon share; 1960, jsheep 8-10; common sheep 3-7.\cents. cattle were Choice vealers sold lower with other grades trading in at steady prices. Hog prices injwere generally unchanged and Transactions were down they went up FOR A SAMPLE OF OUR WORKMANSHIP lusion that more was involved) han_ legitimate Cattle receipts were esti- commercial! mated at about 9,500, about 300 head more than last week and "We were determined to pro- Some 2,000 more than the same |597 head, an increase over last week of 200 head. Slaughter .cattle: .Choice Steers 25-25 50 with some fancy feedlot steers up to 26.30; good | 23.50-24.50; medium 21-23; com- jmons 17-20; good heifers 21.50- 22.50 with choice 23-24: medium He said the peg still allows 19-21; commons 17-19; choice luctuation of one point in either|fed yearlings 25-27; good 22-24 irection--from 9114 cents to/50; good cows 17.50-18.50 with He twice paid tribute to Louis governor of the See Crawford Construction Co. Houses al Beautiful LYNWOOD ACRES PICKERING, ONT. BULS PAINTING & DECORATING 725-2723 "no higher authority any- 12-15; good 19-19.50 common and cutters about criticisms by| heavy bologna bulls Gordon, Liberal eco-|With sales to 19.75; omics spokesman, Mr. Flem-,29d medium 17-18.50 they wouldn't) Replacement cattle: Good On- e made by aay one familiar losely. ner Asked TEACH RETARDED "He must know if he has) SHERBROOKE, Que. (CP)-- has announced intro duction ions in the exchange fund f this kind course in psychology specializ- "Mr. Gordon may think his/ing in teaching of mentally re- jews are superior to those of|tarded children. The course will he International Monetary mi . 'und, He is making a political|/P® headed by Rev. Euchariste 501 FAREWELL AVENUE OSHAWA ulty. erive political advantage." PHONE 728-4611 here, the prime minister was/mitments, already well known,|price this year--49% -- before mon Market countries '"'want us QUESTIONED BY LABORITE |Great Lakes Paper all gained Macmillan said the point hejentry into ECM without the|vidend 15 cents. Falconbridge | pected to diminish by 13 to 14/6 82 to 617.40, golds 4.50 to 91.67, uty Foreign Minister Valerianjin favor of problematical gains)pared with Wednesday's 2,521,- makes the West suspect that So- cyssed with us and have beenjnational Nickel and Noranda The 17-nation disarmament British government." Lake Dufault slipped 15 cents to -- dent Kennedy, but emphasized|2%% gain to Dome. Giant Yellow- alize that the secrecy which it eee as to contemplate the possibility for "concrete and specific con- disarmament measure which is any party's good faith or un- Bounced Off sion picture between two points, States Air Force. Calif., field station of the Mas-; Westford, Mass. The Echo I LOOKING FOR A HOUSE? i Starts Soari Mac Cites Rol tarts Soaring Of EEC Members ,,1"9.@, Gree has been fixed at 92.5 cents in) ter Macmillan told Parliament' negotiations at Brussels will) market shot skyward Thursday. Thursday that the responsibili- have a great effect not only on fnqustrials snapped their re-| Market countries are as heavy wealth and the rest of the free index gain, golds and base met-| as Britain's in negotiations. for world. als both climbed more than| Weary after an all-night flight thing they could to ease our po-|two points. | from Canada, which was fol-|sition," said the Conservative) Papers paced_ industrials,| pressed in the House of Com-'to the Commonwealth, and to easing to 49%, ahead 24. Fra- mons to expand upon his Tor-joyr agricultural problems at)ser Companies, C on solidated| they will have to make it easy in a 1% to 18% range, for us." The questioner. was' Labor MP John Rankin, one fds Bday thie . point had been trying to make was strongest safeguards, asked: | advanced 1, Distillers Seagrams| teh "Did the Canadian primeiiy% and BC Power 1% on a) . . Burns Claiming (iousioses tha woud accrue shares," Bian of Monta jto Canadian exports in the/showed one of the few losses, | |dropping % to a 1962 low of jmon Market? 16614. Russian M ussian ove per cent, Would you regard it/pase metals 4.13 to 210.61 and GENEVA (AP) -- Canada's as good business to prejudice) western oils 2.20 to 112.92. Vol- Zorin of Russia Thursday that/in Europe?" 000. the Soviet refusal to accept) Re plied Macmillan: "All|) Among base metals Hudson viet demands for total world giscussed on many occasions. 1/114 each, and Ventures and Con- disarmament may cloak aggres-' repeated what has been said/solidated Mining and Smelting conference has reached a dead- ; . ; gt ak: aati On nuclear testing, Macmillan|$5.60 and Northgate rose 45 lock over the Soviet refusal to refused to disclose any secrets/45 cents to $8.75. hy ag i er session that he and Kennedy "are de-|knife rose to a 1962 high of € = Sone ' termined to do everything we 12% and Mcintyre - Porcupine maintains as to the location and all other details of its nuclear that the Soviet force could be used in a surprise attack." trol measures . . . to prove to both of the great power blocs, agreed to. . . is actually being carried out in good faith by verified assurances. TV Satellite WASHINGTON (AP) -- The on earth by bouncing the signal off an orbiting satellite was an-| The experiment was con- ducted April 24 with a trans-| sachusetts Institute of Technol-| ogy's Lincoln Laboratory to the satellite served as the reflector for the bounced signal. 17 «THE metas TNR, Pridey, Mey 4 1962 : a Dollar Fixing | TORONTO (CP) -- Triggered| LONDON (CP)--Prime Minis-that the outcome of the ECM | terms of U.S. funds, the stock! ties of the European Common'Britain but on the Common-|cen; slump with the year's best! British ECM membership. "I hoped they would do every-|four points, western oils jumped lowed by a cabinet meeting chief. "I had in mind our com-jwith Abitibi striking its best onto statement that if the Com-|home." \Paper, Price Brothers and| Liberal Leader Jo Grimond. of a group opposing Britain's 95 despite being traded ex-di- minister impress upon you the|turnover of more than 20,000 West Suspects |event of our entry into the Com-| "I think the exports are ex-| On index, industrials climbed Gen. E. L. M. Burns told Dep-jour huge Commonwealth trade) yme was 2,707,000 shares com-! adequate disarmament controls these questions are fully dis-,Bay Mining gained 1%, Inter- sion intentions. publicly on the position of the'% each. Among speculatives, discuss foolproof control meas- involved in his talks with Presi-| Golds were bolstered by a "The Soviet Union must re- can" to Feet such tests. lenitied: 114. striking force obliges the West He repeated Western demands and to all the world, that every both sides without depending on First Picture. first transmission of a televi- nounced Thursday by the United mission from the Camp Parks, | Millstone Hill Laboratory at The distance between the two land points is about 2,700 miles, | FIRST | INSPECT Lynwood Aches PICKERING, ONTARIO but the signal, travelling up to} the orbiting satellite and back) to earth, travelled about 3,000) to 4,000 miles. | Quality of the picture was not) good. But the picture shown to reporters Thursday--a lettered card with the initials MIT--was recognizable. Average Interest In Treasury Bills OTTAWA (CP)--Average in- terest of this week's issue of 91 .- day government treasury bills increased to 3.19 per cent from 3.07 per cent last week, the Bank of Canada reported Thursday. The treasury bill rate, gen- erally considered an indicator of conditions in the short-term money market, has been fluc- tuating around its present level since the start of the year. The Bank of Canada interest rate, set at one-quarter of one per cent above the treasury bill rate, advanced to 3.44 per cent R. R. NO. 3 WHITBY We were pleased to be chosen to do The Masonry Work On These Beautiful Houses. OSHAWA SUB-CONTRACTORS ongratulations TO CRAWFORD CONSTRUCTION co. on the opening of their Houses at LYNWOOD ACRES PICKERING, ONTARIO These are beautiful homes-- Don't fail to see them. WE WERE PLEASED TO HAVE BEEN CHOSEN TO SUPPLY THE CONCRETE WORK. HENDERSON CONCRETE PRODUCTS LTD. 1089 NELSON, OSHAWA 723-3226 Congratulations to CRAWFORD CONSTRUCTION CO. ON THE OPENING OF LYNWOOD ACRES PCKERING, ONTARIO THESE ARE BEAUTIFUL HOUSES. We were pleased to have supplied the lumber. McCULLOUGH LUMBER CO. LTD: 1270 SIMCOE NORTH OSHAWA 728-4688 MO 8-4122 from 3,32. SCENIC ARCHITECTURAL LOT 75' x 1 2 BLOCKS TO PUBLIC AND SEPARATE SCHOOLS PHONE PICKERING 942-3364 Lynwood Acres PICKERING VILLAGE CUSTOM-BUILT ATTACHED GARAGE VANITY BATH BOWN PAYMENTS FROM $2,300 NHA MORTGAGES $16,700 Directions:--Turn North Off 401 at Pickering Cloverleaf: Look For Our Signs SERVICE 25' Win 4 $5 Wi ZA ..-for spirited refreshment ! Ale: try a case of Canada's fastest growing ale labatts : Pogo egy ¥ > | - ; | Ws