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"1@ THE OSHAWA TIMES, Scturdey, October 27, 1962 *t eae erenere eeeret ee rte Tt ee STEVENSON ARRIVES AT UN U.S. Ambassador Adlai Stevenson is met by reporters in United Nations headquar- ters lobby in New York Fri- day afternoon as he arrived for meeting with Acting Sec- retary General U Thant fol- lowing hurried trip to Wash- ington. Stevenson received fresh instructions on the Cuban crisis from President Kennedy and attended a meet- ing of the 12-member execu- | tive committee of the National Security Council. --AP Wirephoto | - INTERPRETING THE NEWS Cuban Incident Fal Aids de By ALAN HARVEY Canadian Press Staff Writer Providence once again seems to be taking a kindly hand in the personal destiny of Presi- dent Charles Andre Joseph Marie de Gaulle. With the French referendum set for Sunday, up pops the cri- sis over Cuba just in the nick of time to ensure, in all prob- ability, that another "'yes" ver- dict will be squeezed out of a largely indifferent mass of voters. President de Gaulle, of course, probably knew all along that some kind of extraordinary intervention was inevitable. But he ran things pretty close, in- deed, Nearly every public vote, in fact, seems to be raised in pro- test. A negative response has been demanded by all the pol- Gaulle politically minded, whose public voice is not heard, and who will say yes merely to avoid 'rouble. With de Gaulle around, they reason, they won't have to worry their heads about what goes on in the Palais Bourbon. Technically, the question asked in the referendum is whether the constitution should be changed to allow future French presidents to be chosen by universal adult suffrage. As usual, however,-de Gaulle has made it an issue of confi- dence by saying that he will quit .if he does not get a satis- factory proportion of yes votes, and the French people would rather tolerate the man some describe as "'the leaning tower of Europe" than bring back the squabbling politicians of the un- lamented Fourth Republic. Firm Proposes To Reorganize Shareholders TORONTO (CP)--John Wood Industries Ltd. has proposed a capital reorganization to its shareholders which would see the Toronto-based holding com- pany transfer all its assets to its Delaware subsidiary, John Wood Company. Under the plan all Class A and B shares of the Toronto company would be changed into voting common shares of the United States firm. The Class B shares, currently the only voting shares, would be John Wood Industries Ltd. Fol- lowing that, both Class A and B shareholders would receive shares of John Wood Company on a four-for-one basis. The reorganization would) ; mean that Class A shareholders, mostly Canadians, Canadian holding company for the United States: itical parties except one and by the president of the French Sen- ate, Gaston Monnerville, while deep misgivings about the ref- erendum have been expressed by trade unions, educational or- ganizations and virtually the entire French press, including papers. LOOKED PRECARIOUS | For a while it even seemed as though the opposition ar- rayed against de Gaulle was 50 strong that Sunday's vote might produce the kind of "weak, Mediocre or uncertain" re- sponse that would prompt him to quit the presidency. Then the Cuban crisis drove) domestic politics off the French) front page, and now people are) saying the sense of emer- mcy resulting from President mnedy's arms quarantine ac- tion against Cuba will convince voters that come what may they must keep strongman de Gaulle at the helm. Perhaps, after all, Cuba was not really needed to preserve the general in power. Despite all the public portents of a) massive "'no" vote, the decisive! factor may be the great mass of French people who are not 1,113 Prisoners' | Release Plan Still Open HAVANA (AP) -- The Castro [Alpi ward was reported Fri- y to be keeping open negotia- tions for the release of 1,113 prisoners captured in last year's rebel invasion of Cuba. There was anxiety, however, that the U.S. arms blockade against Cuba would affect the negotiations. Officials of the rescue com- mittee in Cuba sent a report to James B. Donovan, New York lawyer negotiating with Pre-| mier Castro, that as far as they) knew the negotiations have not) been affected. | Alvaro Sanchez, one of the committee's Cuban negotiators, sent Donovan a message saying "no final efforts must be -- to complete the negotia- Sanchez' report added that medicine, baby goods and med- ical equipment accepted by the Castro government in lieu of cash for freeing the prisoners are excluded from the U.S. blockade. \ i 1 | ASSIGNED TO CANUCKS VANCOUVER (CP)--Forward Bob Kabel, 27, from Baltimore the Americah Hockey League, has been assigned to @ Vancouver Canucks of the Western League by the parent New York Rangers, Canuck coach Max McNab announced Friday. Kabel, who played with ' Springfield of the AHL for the . last three seasons, will join Canucks early next week. and we appreciate h would suggest you come yoursel BLOOR ST., OSHAWA By DON HANRIGHT OTTAWA (CP)--Should Cana- dian life insurance companies with more than $8,000,000,000: in assets--be allowed mofe lega leeway on the amount of that money they can invest in com- mon stocks? : The answer was 'no' Friday question to K. R. MacGregor, federal superintendent of insur- ance. He said that in effect they are not using all the investment space Parliament already has given them. Backgrounding the situation is the issue of more Canadian ownership of Canadian resour- ces, and a law which since 1932 has limited life insurance com- panies' holdings of common stocks to 15 per cent of total as. sets, with stocks measured by book value. Mr. MacGregor said the life companies are nowhere close to crowding this limit, Since the Second World War their com- mon - stock holdings had aver- aged around four per cent of assets, and the highest any one company had gone was 8.3 per cent--not even half the limit. USE 'BASKET CLAUSE' In addition, a so - called "basket clause" in federal leg- 'iclation allows insurance com- panies to put five per cent of their assets wherever they like. Stocks in this basket need not have the seven-year dividend record required for stocks un- der the 15-per-cent rule. However, Mr. MacGregor said that despite this extra five per cent of freedom, assets now kept in that, form total little over one per cent of all assets. Thus, criticisms that the law is too stringent "can only be set duwn as uninformed." Earlier, the commission was told by the life insurance com- panies themselves that the limit Insurance Firms Dont Need More Investmen should be raised to 25 per cent.|key doctors behind the contro. They said they wanted this|versial Saskatchewan medica extra room in case investment| care plan that resulted in a trends change. life companies do not consider mon stocks at all, ter of Ontario, commission chairman, noted that the higher limit was sought by the com- panies themselves. Unless there were some danger, "Why not let them have it?" As long as the present limit is not being crowded, Mr. Mac- Gregor said, the insurance de- partment here feels it would be wise to have more exper- ience with a higher proportion in common stocks before rais- ing the ceiling. ...ON THE OPEN PHASE TWO. MA CONGRATULATIONS TO BRAEMOR GARDENS ING O F Y WE SUGGEST YOU SEE THEIR MARVELOU MODEL HOME eo WE ARE PROUD TO BE PART OF a1, J.A. 52 FERNHILL -- PHONE 723-9363 ARMSTRONG Electrical Contratcor {| Doctor Claims Mr. MacGregor said many|the province this summer said common stocks a "suitable" in.|8ystem, reached after a; vestment for life insurance|ment between doctors and the funds. One U.S. company was|Provincial government, "has a dead against investing in com.|lot of kinks But Chief Justice Dana Por.|toon, who was here recruiting Sask. Medicare! Plan Has Kinks LONDON (CP)--One of the tors' withdrawal of services in Friday the final version of the Dr. Samuel Wolfe of Saska- British doctors during the strike, told a medical confer- ve granted te. doctors--to erate outside the plan to a cer- tain extent--was a "mere face- saving device." Dr. Wolfe told the Medical World International Conference on Family Doctor Care that doctors who refused to accept peyment directly from the Sas- atchewan medical care insur- doc-| ance commission, thinking they were taking advantage of a con- cession, were no better off than doctors dealing directly with medicare. GIVES EXPLANATION He exp.ained it this way: A private insurance agency receiving doctors' bills simply put them in another envelope and forward them to medicare. Then, medicare officials treated the bills in exactly the same op- was as those submitted di- rectly. Although the doctor was able © to rationalize that he was, in fact, working outside the p!an, Dr. Wolfe said, he was part of it whether he liked it or not. He said the "face - saving" system cost patients money and was more complex, ON. INJURED LIST MONTREAL (CP) ---Line- backer John Conroy has been placed back on the injury re- serve list, it was announced Fri- day by Montreal Alouettes of the Eastern Football Confer- ence, Conroy has missed most of this season with a leg in- jury. He came off the list three weeks ago and was dressed for lone game but did not play. split on a two-for-one basis im |) will ex-|7 chance non - voting rights in a ae voting control of a company in|- The finishing touch in any new home is the landscaping aving been chosen to do the finishing touch in Braemor Gardens. An important point... We congratulate the creators of Braemor Gardens and down 'this week end to see for Fee 4 APING SERVICE 723-9020 CONGRATULATIONS . ." to Braemor Gardens on the opening of the second phase. It is indeed a pleasure to be supplier of concrete blocks to this outstanding housing development. NEWCA NEWCASTLE, ONT. STLE BLOCK CO. 3701 : e . eee to Braemor Gardens on the opening of beautiful phase 2. We feel honored to have been part of Braemor Gardens since it's beginning. For 13 years Braemor Gardens has installed quality plumbing installations by Foley Plumbing. WHEN VISITING THE MODEL HOME NOTE: @ The Luxurious Kitchen Faucets The Glamourous Bathroom Fixtures The Quality Installations The High Quality Brand Nemes Installed By Foley Plumbing "SERVICE MADE US" J. FOLEY PLUMBING AND HEATING | COLLEGE AVE., OSHAWA PHONE 723-1191-2-3-4 ference that the alterna- . CARE~& COU ity. AUTOMATIC DELIVERIES PHONE 725-3581 RTESY TOP Compliments to BRAEMOR GARDENS on the opening of phase two of this splendid commun- ue: "ING ST. Vii quautry on ° WEST, OSHAWA @ @© @ ZOIAWIS YNOHHZ Lawowd ©& © Yes, one major point to look for, while visiting beautiful Braemor Gardens, and specifically the fur nished model home, isthe decorating and furnishing. It is a pleasure to have our name affiliated with this splendid community. Congratulations to the creators of Braemor Gardens, we certainly admire your progressive project. Rotty Haydl INTERIOR D ECORATORS