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Mrs. Nick Powers of Win- nipeg hooked this 40-vound octopus while fishing for sal- CATCH 40-POUND mon in Oak Bay, near Vic- toria.. It was the largest land- ed in the area in recent years. OCTUPUS Assisting Mrs. Powers display | the catch are, left to right, | son Ron, 16, brother-in-law Bill Powers of Victoria and husband Nick. (CP Wirephoto) Market Opening Optimistic | On Wednesday TORONTO (CP)--The _ stock market opened on an optimistic note Wednesday, but after a fairly brisk first hour it slipped back into dull, routine trading. In that first hour, industrials) climbed almost two points on index. They lost most of their gains by the close and finished practically unchanged from Tuesday's closing level. West- ern oils showed a closing surge to climb more than a point on index. Golds and base metals showed little of interest. In the main list, Imperial Oi continued to perform well, gain- ing 1% to 43.34 Although the in- dex rose only fractionally, sev- eral non - index issues scored smart rises, including Investors Syndicate A, ahead two points, and Bank of Nova Scotia, up 1% HITS YEAR'S HIGH International Nickel slumped to 66,% down 1%. Canadian Oil, in the limelight since receiving a takeover bid from Shell Oil of Canada, climbed ¥% to a 1962 high of 36%. Power Corpora- tion, which has a substantial holding of Canadian Oi! stock, slipped % to 54.% On index, industrials rose .65 to 539.21, golds .20 at 94.98 and western oils 1.46 at 103.000. Base metals dropped .64 to 185.44. In the base metals list, Fal- conbridge dropped % and Deni- son 4, while Consolidated Min- ing and Smelting rose %. Spec- ulatives were paced by a 45- cent gain to Lake Dufault, which closed at $5.20. Among western oils, Calgary and Edmonton gained ,34 Home A % and Home B 5%. Devon Palmer advanced five cents to 59 cents, trading 21,000 shares. 72 Banks Have In Excess Of $1,000,000,000 NEW YORK (CP)--There are 72 banks in the non-Communist World which each have deposits in excess of $1,000.000,000 (U.S.), the American Banker reports in a survey. Last year there were 67 such institutions. Canada has five banks in the over-billion category, compared with 23 in the U.S., 10 each in as possible." Third Annual Conference Of Premiers Pearson Suggests 'Killer Saved General Election 6... 199 Tos OTTAWA (CP)---A session of Parliament as soon as possible| and a new general election to restore stability to Canada were advocated, in that order, by Liberal Leader Pearson Wed- nesday in a wide-ranging press conference. "Stability can only be based on confidence, and we cannot get- confidence until we have a government that inspires confi- dence by wise and confident ac- tion. "We will require a general election to get a government that will give us that." Mr. Pearson, who leaves to- day for a 10-day unofficial con- ference in Brazil on tensions in the Western Hemisphere, said the government's responsibility in drug administration was an- other issue on which Parlia-| ment should be called "'as soon) VICTORIA (CP) -- Eight of cial premiers' conference. Premier Woodrow Lloyd of special legislative session starting today on Medi- care, and Prince Edward Iskand Premier Walter Shaw, who is 74, is ble to come b of illness. Mr. Lioyd will be represented by Provincial Treasurer A. E. Blakeney. P.E.I.'s delegate will be a M. J+ Me- First to arrive Friday will be Premier Robarts of Ontario and Louis Robichaud of New Bruns- wick. Premier Jean Lesage of Quebec arrives in Vancouver to- day but will not come here un- til later. All but Newfoundiand's Joey Smallwood will be here in time for a reception at Government House Sunday night. Mr. Small- wood is in Jamaica now but will be here in time for the opening conference session Mon- y. The conference lasts - two days. The government seemed to) have acted too slowly in with-| drawing the tranquilizer thalido- mide, after. West Germany and Britain had stopped its sale in November and December, 1961, on the first reports of deformed babies being born to mothers who took it in early pregnancy. "If Parliament were meeting, we would be able to get at the facts." Whether Britain decides for or against joining the European Common Market, or even if the issue is unsettled before the Commonwealth prime minis- ters' conference in London in September, the Diefenbaker From Death, SPRINGFIELD, fl. (AP)--| Paul Crump has been saved from the electric chair by his plea that he found a spiritual rebirth in his nine years facing electrocution. Governor Otto Kemer granted executive clemency Wednesday and cut Crump's punishment for murder from death to 199 years in prison, with a recommenda- tion that he never be paroled. The bid for tife by the 32-yeui- old Negro killer and robber was unprecedented in that he no longer denied committing the crime for which be was con government should meet Parlia. ment first to put its policy be- fore it and seek a vote of confi- dence, Mr. Pearson said DISCUSS AUSTERITY Another question to be dealt iwith by Parliament, he said, CREDITS GoD was the government's austerity program and measures to bol- ster the Canadian dollar. The emergency meastres ap- peared to have taken effect, but their long-range result would be to damage jobs, production and trade. since they were restric- tionist, Mr. Pearson added. The sooner the program would be cancelled, the better. On the subject of civil serv- ants, he said salary increases Canada's 10 premiers will ar-|for 50,000 should have been an- rive in Victoria this weekend to|nounced before the austerity attend the third annual provin-| program, and $15,000,000 saved in other ways, particularly in a the defence budget. The Bomarc Saskatchewan is unable to come] guided missiles and other weap- because of a ons "which no longer have any value or usefulness' should be scrapped. DIVIDENDS | victed. He asked to be spared \because he had rehabilitated | himself His story won over the gover- nor only 1% days before Crump By FORBES RHUDE Canadian Press Business Editor GENEVA PARK, Lake Couch ing, Ont. (CP)--Recent indus- trial change in Canada is as dramatic as anything that has occurred in Europe, Petes Munk, president of Clairtone Sound Corporation Ltd., Tor- onto, said Wednesday in an ad- dress to the summer conference of the Canadian Institute on Public Affairs The new outiook followed long years of sterility during which Canadian executives were con- tent to be rich and comfort- able selling natural resources and making products from the designs of others. search Council, for instance, }had developed products for which it could not find a Cana- dian manufacturer, but which manufacturers of other coun- tries picked up. Now, he said, younger indus- trialists are not willing to take "no" for an answer "and we believe Canada will take as lleading a role in world industry as any other member of the western community." Mr. Munk dated the new dynamic attitude in Canadian industry from 1955. He praised government meas- ures for encouraging industry, such as those in the credit and tax-incentive field. Mr. Munk, whose company in about three years has become a Canadian success story in high - fidelity products in both home and export markets, said the Canadian change has been one of "mind". "In almost any field Cana- dians can produce industrial de- sign on a par or superior to any existing," he said. "'The prob- lem is to put them across to enough people to make them de- sirable," f | PROBLEM NOT MONEY | In research the great short- jcoming had been not so much ia matter of spending less NET EARNINGS By THE CANADIAN PRESS Hudson's Bay Oil and Gas Co. Ltd., 6 mos. ended June 30: 962, $4,060,000, 23 cents share; 1961, $3,090,000, 17 cents. Mount Royal Dairies and Co. Ld., year ended March 31: 1962, $67,264, 16 cents a share; 1961, $127,884, 41 cents. Shawinigan Water and Power Co. 6 mos, ended June 30: 1962, $7,635,592, 84.9 cents a share; 1961, $6,816,307, 75.4 cents, ;money than other countries, as jin attitudes. The National Re- 6 mos. ended June 30: $133,650; 1961, $148,316. Union Acceptance Corp, Lid.,| 1962, | only within the market." | Canadian Industrial Change Said Dramatic Chairman H. Ian Macdonald assistant professor of econom- ies, University of Toronto, des- cribed Mr. Munk as an example of the "'classie entrepreneur," who literally created with his own hands the first high-fidelity set which had led to a company with sales of several million dol- lars a year. OTHER SPEAKERS The session topic was "indus- try in transition", and other main speakers were Rudolf Meimberg, German economist and banker; and Charles L. Caccia, managing director, Italian chamber of commerce, growth in Italy has been far in internal the south. As a result seasonal labor had to be brought in from Spain and Greece to harvest crops in the south, German system as one in which government sets the "'flavor" but decisions are made by pri- ivate enterprise, | must be outward - looking be- cause two-thirds of its exports) are outside Common Market jcountries. "It would be foolish for to isolate ourselves and look THE OSHAWA TIMES, Thursday, August 2, 1962 JB Overseas Drain On U.S. Dollar Curb Started WASHINGTON (CP) -- The launched a drive to cut its overseas dollar drain by buying less equipment abroad. Defence Secretary MeN a- the drive July 16, saying the ob- jective was to reduce payment imbalances without cutting the leffectiveness of U.S. forces. Later the ent * sued an order doubling the price dif- Toronto. } Mr. Caccia said industrial faster than expected, It was) mostly in the north, resulting! immigration from) | Mr. Meimberg described the| He said German industry! ferential that determines U.S. defence department has|{M per cent above similar goods avai the start ofjcent INTERNATIONAL GO-KART RACES KARTWAYS 1% MILES WEST, 2 MILES NORTH OF GOODWOOD SUNDAY, AUG., 12 STARTING 11 A.M. ALL GATE PROCEEDS IN AID OF ONTARIO CRIPPLED CHILDREN under UXBRIDGE KINSMEN CLUBS sponsorship jwas scheduled to die | Tears welled in Crump's eves jwhen he received word of the governor's action. "All the credit should go to God for my life," he said. Those who carried on Crump's fight for life said he had changed from a brutal, ruthless killer to a co-operative peaceable prisoner. He resumed his education in jail and wrote a book scheduled for publication this autumn. He sa embraced Roman Catholic. Crump was convicted of mur- ering a guard in the Libby, McNeil and Libby plant during a $20,000 hokiup in Chicago in 1953. Four companions in the erime drew prison sentences. 'ajority of ¢ factured or dea he goods we Sell is many. mbled here, there ; which » there is hard : nia does not contain q Percentage ? baud item 5 Or raw material We believe a of imported -- at much be ot least 5. Goods we Sell wil] of the [CHEER THESE RATES Ann ete, 'S | By THE CANADIAN PRESS | British American Oil Co. Ltd.,| | fn }common 25 cents, Oct, 1, record Sen {Sept. 7. | British Columbla Packers| Lid., class A 36% cents, class B 50 cents, both payable Sept, 17, record Sept. 4. ord Aug. 24. per cent pfd $1.10, Oct. 1, ord Sept... Oct. 15, record Sept. 28. record Aug, 15. Burrard Dry Dock Co. Lid., class A 12 cents, Sept. 15, rec- Canada Safeway Wtd., 4.40 rec- The Demladen of Canada Gen- eral Insurance Co., 42% cents, Photo Engravers and Electro Typers Ltd., 40 cents, Sept. 1, DOUBLE With Privete Beth 4 CENTER OF LINCOLN CENTRE x Wresdwey at bled rect _* TOR recue & melons -- meet wih ADR. CONDITIONING, TY and redo * Paecelient Rewmaramt--Calleo Romp -- Cu teed Leverage + Garege edjarent v9 bend PONS many sparial Menpare commretenare wot s0 Baby Sitter, Physician, Sighserlag Boom, Youin & Plane Rewervaiiom, Redio& TV Tickew? NEW YORK i "SAMX-- COlanben 51400 Britain and Japan, and six in Haly. France, Switzerland and) West Germany each have four. The banking paper. reported Wednesday the Bank of Amer- ica National Trust and Savings Association, San Francisco, had the largest total of deposits-- $11,475,436,000 at the end of 1961. The Royal Bank of Canada) ranked eighth with $4,310,756,-| 000; the Canadian Imperial) Bank of Commerce ninth with) $4,185,974,000; the Bank of Mont- real 13th with $3,532,347,000; the Bank of Nova Scotia 33rd with $2,049,707,000; and the Toronto- Dominion Bank 37th with $1,- i iek am St Bk LASALLE Viscose Profit Higher -- For Houdaille © BUFFALO, N.Y. --Houdaillie | Industries, .. had a net) profit of $920,481 of net sales of| $45,580,112 in the first six) months of 1962, according to a) report issued today by Gerald C. Saltarelli, president. This to 48 cents. per share half of 1962 and! share for the simi-| jod of 1961. | materials, automotive Size 72" x 84". ONLY REVERSIBLE BLANKET washable. ONLY SATISFACTION G DOWNTOWN OSHAWA and industrial tools and/| . \ $e: IKRESGE'S ak cig 2 ame Min 288 aes 3 Special for Cottages! & Nylon Blend BLANKETS For softer sleep. Warm, featherweight, long wear- ing comfortable weight. Good assortment of colors. ee ee ee eee a ALSO THE " Aristocrat' Size 72" x 84"--Satin binding, guaranteed ARANTEED OR MONEY CHEERFULLY REFUNDED 2 STORES TO SERVE YOU BETTER OSHAWA SHOPPIN ik Storege until required rn Privileges apply, RNEY BROS, LTp, -- OSHA WA ..., COBOURG _ BELLEVILLE Below is a partial list of items which form part of the content of the goods we sell, and which are imported into Canada. ELECTRONICS FURNITURE APPLIANCES -- Tubes Transistors Diodes (some types) -- Teak-Wood -- Switches and Controls (some types). -- Record Changers (Automatic and Manual) -- Walnut and most cabinet veneers -- Refrigerator Compressors (some makes) -- Sisal (used in mattresses) -- Ticking (used in mattresses) - os Trim and Accessories (Refrigerat- ors -- Handles and Hardware -- Upholstery Fabrics ~ Automatic Washer Controls and Switches ~ Some types of Springs (most makes) ~~ Burlap (used in webbing) -- Lamp components HARD-SURFACE FLOOR-COVERING Much hard surface flooring is imported in finished form and will be greatly affected. 3% + tats -- Speakers -- Dials and Tuners CARPETS ~ (Nylon yarn) cotton and jute backing, wool and rayon yarn. G CENTRE