The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

oo Dinan nm tte te anne ee we owe Oe 14 THE OSHAWA TIMES, Thursdey, April 25, 1963 -Z00 NEWCOMER This 40-pound seal, captured On the Magdalen Islands. in the Gulf of St. Lawrence, and a companion were presented Lack Of Trend On Market's Light Trade TORONTO (CP) -- The stock market refused to establish a definite trend and most price changes moved in a narrow range during moderately light trading Wednesday. Lack of trend through the session was indicated chiefly by banks, financial institutions and steels. Stronger steels featured Do- minion Bridge, up 1%, Ontario Steel, ahead a point to a new 1963 high of 19, and Hayes Steel, up % to a new top of 18%. In contrast, Dominion Foundries and Steel slipped %, Page-Her- sey fell 4 and Dominion Steel and Coal declined %. Major banks were mixed, posting only modest price changes. Among financial insti- tutions, Crown Trust rose two points to a new high of 68, and National Trust rose %. Guar- anty Trust dropped %, Indus- trial Acceptance % and Inves- tors Syndicate A %. Autofab B stole the spotlight among penny issues as it dropped 64 cents to 36 cents on a turnover of more. than. 48,000 shares. It hit a new low of 35 earlier in the day. On index, industrials rose .94 to 634.44 and golds .23 to 87.73. Base metals slipped .18 to 212.09 and western oils .07 to 123.52. Final volume was 3,156,- 000 shares compared with 2,901,000 Tuesday. NET EARNINGS to the Garden of Wonders, a children's .zoo at Lafontaine Park in east-end Montreal. --(CP Wirephoto) BUSINESS SPOTLIGHT 'Simple Taxation Deal Suggested MONTREAL (CP)--A simple tax on personal income would do more for the Canadian econ- omy than any half dozen rem- edies recently proposed on the hustings, says H. Heward Stike- man, former assistant deputy minister in the department of| national revenue. In an interview, Mr. Stike- mak proposed that all Cana- dians with yearly incomes of| more than' $4,000 pay a tax| rate of 17 per cent on all cate- Bories of income, including the} now tax-free capital gains. And in his scheme he allowed for no dedutations, exemptions or benefits of any kind beyond Synod Agrees On Separate School Curb WELLAND, Ont. (CP)--Del- @gates at the Hamilton and Lendon Ont., Synod meeting of the Presbyterian Church in Canada agreed Wednesday that there should be no extension of present separate school educa- tion ~The synod approved a petition to be sent to the provincial gov- ernment asking that "the privi- leges enjoyed by Roman Cath- Olics in regard to elementary education should not be ex- tended to secondary education and that the privileges of sep- arate school supporters should not be extended beyond those granted in the British North America Act." The synod passed a motion to ask for a reduction of cigarette advertising in peak periods on television. Some ministers and delegates opposed the motion, feeling that as smokers them- selves, the mvtion would be hypocritical. Supporters of the motion said it was not aimed at prohibition of smoking but a reduction of the pressures on mpressionable youth. Rev. Harry Rodney of Knox Church, St. Thomas, Ont., was elected moderator of the synod, Succeeding Rev. N: Novak of Welland. The next meeting of the Synod will be held next Spring at St. Giles church in Sarnia. WOOL for rome ol iondae y your own Groanteasion, SHIP COLLECT To Our Registered Warehouse No.1, Weston, Ontario. Obtain sacks and twine without charge from -- BOYD AYRE, Hompron RALPH HEPBURN, R.R. No, 2, Oshawa WILLIAM SNOWDEN, R.R, No. 2, Oshawe or by writing to <ANADIAN CO-OPERATIVE WOOL GROWERS LIMITED 40 St. Clair Avenue East, Toronto 7, Ontario. x credits for wives and depend- ents. Mr. Stikeman, a Montreal tax and legal counsellor and editor of tax and legal publications, said: "Of all cases now before the courts, 75 per cent are de- voted to determing the taxpay- er's right to exemptions, deduc- Ford Motor Company, 3 mos. ended March 31: 1963, $121,300,- 000, $1.10 a share; 1962, $127,- 700,000, $1.16. Hudson's Bay Oil and Gas Co. Ltd., 3 mos. ended March 31: 1963, $2,602,000, 15 cents a share; 1962, $1,591,000 nine cents, Share In Jet Deal For De Haviland | TORONTO (CP) -- De Havil- land of Canada Limited an- nounced Wednesday it has won a share of a $65,00¢,000 contract to build medium-range DC-9 jet aircraft--sharing the job with Douglas Aircraft of Long Beach, Calif. : The contract was signed Wed- nesday. Officials of de Havil- land, estimated the ultimate market would be 1,000 aircraft. Each will cost $3,200,000. De Havilland officials said the project will create 2,000 new jobs for Toronto and raise the company's employment to ap- proximately 6,500. Company officials said they could not say what their profits would be. The decision by Douglas to build part of each aircraft in Canada' resulted partially from DIVIDENDS By THE CANADIAN PRESS Beaver Lumber Co. Ltd., common 40 cents, class A 2 cents, pfd. 35 cents, July 2, rec- ord'June 10. Canada Malting Co. Ltd., 50 cents, June 15, record May 15. Corby H. Distillery Ltd., vot- ing 50 cents, non-voting class B 50 cents, June 1, record May 0 the fact that Canada is one of the Douglas company's largest customers. ; The former Avro aircraft plant at Malton, Ont., pur- chased by de Havilland about one year ago, will start work in July and prepare the entire rear assembly of the DC-9. Final assembly will be at the Douglas plant in California with the first delivery scheduled for August, 1964. : MONTREAL (CP) -- Sud-Avi- ation of France 'would like o build its short-range Caravelle 'et airliner in Canada if a $200,- 000,000 deal can be made with Trans-Canada Air Lines. A three-man sales team from Sud-Aviation, headed by Pierre Satre, designer of the Caravelle and the company's technical di- rector, have been in Canada for the last six weeks negotiating with government and industrial leaders. TCA plans to replace, its 71- aircraft fleet of Viscounts and Vanguards with 50 short-range jets over a four-year period be- ginning in 1966. "Caravelle is one of the air- craft we are assessing," a TCA spokesman said, confirming the company had held talks with the French officials. But TCA is also interested in the twin-jet BAC 111 being built by British Aircraft Corporation, and 'the DC-9 which Douglas Pag ; 4 Mar 33 Aircraft Corporation of the cents, June 1, record May . ' ' ry \""Mid - Western Industrial Gas| United States is putting into pro- |Ltd., five cents, June 1, record/ duction this year. |May 15. | Sud-Aviation would like to sell | Simpsons Ltd., common 2244|TCA 50 Caravelles for $200,000,- leents, June 14, record May 15,|900, and build them at Canadair | WVauze Mines Ltd., five cents,|Limited in suburban St. Laur- |May 22, record May I. ent. Falconbridge Nickel Mines Ltd., 50 cents, June 15, record May 24, Great Northern Capital Co. Ltd., common 20 cents, $2.50 pfd, 62% cents, $2.80 pfd. 70 Businessmen Criticized For Not Trying OTTAWA (CP) -- The huge New York buying market still is producing export bonanzas for Canadian manufacturers willing to dig for business. But Bruce Rankin, Canadian trade commissioner there, is shaking his head over the num- ber of firms who are hardly try- ing for New York sales. "It's almost a chronic disease with Canadian businessmen," he said with a wry smile dur- ing an interview Wednesday at the trade department's export promotion conference, He said Canada's trade office in New York has concentrated its efforts in recent years at selling consumer goods, In this field, "design is the key to success." "You just can't sell a carbon copy of an American product." He said that in the last two years his office has staged spe- cial shows in New York for about 50 Canadian firms. The first of these was a Montreal handbag manufacturer. "T guess that fellow now has a market worth $300,000 to $400,- 000 a year in the U.S.," Mr. Rankin said. Another was a maker of well- designed office furniture who developed annual sales of around $500,000, VACUUM CLEANERS AND POLISHERS | REPAIRED--REBUILT Vacuum Hose for Sale! WARNER WILLIAMS SERVICE CENTRE 17-B BOND E.--125-3531 Se i i a MONTREAL (CP)--In a pres- entation that clearly fascinated the royal commission on taxa- fened Wednesday a radical plan for clipping the wings of man- agement and turning over more investment control to average' Canadians. Frank S. 'pon, dent of Du Pont of Canada Lim- ited and a chartered account- ant, appeared before the six- individual "and an average Ca- nadian . .. very much com cerned about the future of our country." Conporation taxes should be eliminated, said Mr.-Capon, The Executive's Idea On Taxes Heard Accountant Kenneth Carter, that the corporation tax now re- sults in industrial i tion, a company executive of-|lavish vice-presi-| cents. man commission as a private} accumulated profits of compan- ies should be heavily taxed. More shares shouid be spread through Canadian households, and these shareholders should have a bigger voice in future investment. Unless more Canadians were allowed to take part in capital investment "our people will have to rely more and more on socialistic handouts." He told the commission, headed by Toronto Chartered STOP Ansus-Gre CARPET C | 282 King W. | PANY 728-9581 tions or capital gains. The cost oft his is monumental." With a simplified tax on per- sonal income, he said, there would be great savings for both the treasury and most individ- ual taxpayers. "And gone would be the day when taxpayers spent anxious) hours searching for loopholes,| striving to itemize deducations and worrying about questions) the tax collector might ask. An| income tax form could be made out in minutes." | Mr. Stikeman said: "Today,| because of the steeply escalated rate structure which goes from 1l per cent on taxable income of $1,000 to 50 per cent: at $25,- 000 and to 84 per cent at $400,- 000, it has been necessary to give certain relief in areas which stimulate our national economy. "These special concessions, and others such as the exemp- tion of charitable and govern- mental institutions have created pools of tax-free in- come. The concept of the tax- free capital gain, once sacred to a free enterprise society, | has all but disappeared." | "Now | buy the new family size package" tou bate way mangracrenges, ene Fataa & 0.118 ASSORTED ~ CREAM Bincuits UND NET ge ONE P Peek Frean's OUND ASSORTED CREAM biscuits Baked to perfection, wrapped for protection »PEEK FREAN Makers of famous biscuits - BABYLAND- BARGAINS Before the hearing started, Mr. Carter said he arose an Ronald W. Bilsky, DC CHIROPRACTOR @ HEADACHES . © SLIPPED DISCS 100 King E. 728-5156 WILSON'S FURNITURE 20 CHURCH STREET Men! Save on These HANDSOMELY TAILORED SUITS Still Only 49.30 With Your Choice OFA FREE Topcoat or Sport Coat These suits, today, therefore represent the ultimate in clothing value! Fashioned of England's luxurious worst- eds, they are ready-tailored with many costly touches to insure proper fit and "hang". And more, you select from every wanted Dunn's style -- designed for your taste, your dis- tinction, Choose yours now. Remember!! ... You get your choice of a FREE Topcoot or Sport Coat with the purchase of any Suit. Priced at 49.50. @ OPEN FRIDAY TO 9 P.M. DUNN'S TWO LOCATIONS: 36 King St. East -- 'Downtown Oshawa" and -- "Oshawa Shopping Centre" r OKEEFE EXTRA OLD STOCK ALE O'Keefe Extra Old Stock Ale flavour is the result of blending two specially brewed ales--one full-bodied, well-aged and mel- low--the other light and smooth. The flavour you get is a smoother, more mellow flavour thancan be brewed in a single ale. Now, for the first time, two ales have been blended to sive you a smoother. more mellow flavour than it's possible to brew ina single ale. -