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rh ltr cen onl a MARKET REVIEW 'Sharp Says |The Question Wall St: ina Cie 'Some Gloss Removed! Views Jibe 'Will History Repeat Tried ON 1600. 73 Toronto Stock Exchange--May 9% Union Ol 100 $2 28% 28% -- Toronto Sack Exchenge marned. §| "Conse ma mn" 7" mn" -- | i or on : By ED MORSE stating a tax hike would be un-simple need to deflate many In- "ad Mi eet S| Boxe ie mw 4 NEW YORK (AR) -- History needed if restraint were exer-|flated stock values. brought the frum' previous beard-ioh closing sale OTTAWA (CP)~F M repeats igself in the stock mar-'cised by business and labor. siupkes down ti INDUSTRIALS lions @ inance MIN ket with variations, and the ' : wn this Spring MINES Abitihi 1115 $11% 11% ister Sharp said Sunday he and question. today on Wall Street MAY BOOST TAX The cuthacks by Genera! Mo- 10:40 Net | Alta Gas 155 $33 32% 13 By KEN smith car and truck sales for April| The Motor Vehicle Manufac- his predecessor, former finance) j,- "How far will history go The possibility of a tax in- tors at four assembly plants Stock Sales High Low a.m, Ch'ge) Alle Gasw 900 . 790 4 t Editor| were a record 21,047 units, com-jturers' Association sajd tota!|minister Walter Gordon have this time?" crease has loomed' over the were merely the triesers { Acme Alta Mat 0 $6 6 + 4 Canadian Press Business iter; ; aut 'ar this vant conthe same. inedvinee viewk i ebiareae : " r v ne triggers io All Pitch ' | Alig Cen $10% 10% 10%-- leg aay cseercar. sales! Ipared with 20,686 in the pre-| production so far th a n rong-range vi _% On this Monday in May, the ™arket, along with fear of gov- send the market spinning last AAm Moly 4 3 «7 |: Algoma 275 $30% 30% 1 slowdown in vious April. Car sales, however,|tinues well ahead of 1965's rec-jeconomic nationalism for Can- stock market has behind it the @™ment controls on prices and Thursday, GM's resumption of weekly -loss since the ™aterials, resulting in patt normal schedules put the mar- Ang Ruyn » 272 «221 Alen Alum 48 "9 "oy, and in housing starts, coupled! aronped 33 per cent to 16,725|ord pace, with 353,785 cars andjada but approach the problem sors Anthes & 04779 'e+ ta -with a sharp slump in the stock from the record 17,287 in April,|{rucks coming off assembly with different plans week ending May -26, 1962 from the booming economy and ket, back up again. Se3= .SK RS ton 6.000.090 .ton more than a ang U Dev Aicn Al or hess A AN Cte 'Albeo € i Ht '| markets. took some of the gioss|1965. Its truck sales were va par up . ge 30 Sanger Mr. Sharp, interviewed on the On Monday, May 28, 1962, the the bag gen of the armed ere # i '2 Na + Va ! ll-time record 4,053, 23.4 per|with 307,531 in the similar 1965' CRC teley 2 fee A 2 <¢ forces in Viet Nam. ' me Sonetere Aveo / i off reports of generally continu-|2!time reco 1 id P F levision program Week- market had behind it the worst Bahama € 1500 } 115 Eee TE hs 'nat a gg an Bank NS ,|ing strong. industrial growth la CHRYSLER SLUMPS Total 1965 car and truck pro-,economic nationalism is out-' Monday"--Oct, 28, 1929. lightening credit reached a cli-| Bow Vow f reer Chrysler Canada Ltd reported duction was 852,000 units, com- watd looking _ By the end of June, 1962, how- max March 10 when the Fed- } - , C 5 '4a P nencent daciiae in' car pared with 668,000 in 1964 It was "one in which Canada peed the worst was over. In a eral Reserve Board boosted the rar 1 1 ! r sales 0 new cars in an~| 4 pononize , gse5 , > a teres . e Kea 2 di a ae April sales 0 : 9 500 i and truck sales, with 10,876 new BUILDING AHEAD recognizes its interdependence | \ear all the losses were recoy- basic interest rate of large com-| BC Forest 2110 ada dipped to about 59.5 m-| sib / AREAY |. | with the world and in which we|eted and the market was climb- mercial banks (the prime! BC Phone 114 $68 y + %\nared with 67,197 sold in the'cars going to customers com In_construction, thé Southam) BCPh $4 50% Yi ° at ¢ 'ir. Da th 12.850 a year ago » GC 's s CPh p although produc. oa hg Peet Aes pbc Building sara see stical rel ®O and closer world than| The up - and - down principfe cent. Back in December. al Burns 140 $15 ' lion-and sales so far this year A f de stat a whieh acid }letin reported the _ -- fee used to be." has been operating most of the boost in the Federal Reserve| < CAE Ind 28 re 5 yy Gener rg ry e a fi ST eae ah . 1, continue well ahead of 1965 re gridkey SKA itis ana jof contract ot dag Hee ce . Gordon, Mr. Sharp said, time since then. The market has Board's discount rate to 4% per tan Com 5 At least part of the decline|54.99 a a | first four months o is year a , h Ily bounde "ent f are "p an Ceme t f ST ea oi rather pessimistic," and habitually rebounded to new cent from four per cent. also CD Sug 4 3 was blamed on Ontario resi-|Pared with 39,390 in April, 1965.|was 4.1 per cent higher than in| pessimistic, ks. had 1: : ] rt ei: : aid i 1965. desvit 45 - ver - cent|against foreign-owned enter- Pea jad a dampening effect on the. C Packs 1 1 dents, who had kept dealers Almost all of GM's drop came! 1965, despite a 4.9 - per ant | 186 1186 1 : ; aiid ital 'rrease sidentia tarts con Porm ' busy in March as they hurried/in car sales decrease in residential sta Dow Jones industrial average to beat a two-per-cent sales tax - Hae wover |and-a 9.5-per-cent drop in en The former finance minister, . 8 Record profits, dividends and} , to beat a two-y a American Motors, however '4:4, had plunged 92.32 from its ree-lnroduction 1965-66 h } 'increase that went into effect tak dhe" Gest rine sales gineering projects. , appearing a few minutes earlier ae high off 995.15 i in ave a ¥ reporte 1 pes spring 82 . as és j scton. the season's final edition: of or closing 1 n OKs ».19, made hisincun the stock market. The April 1 period in its history, with April The total value of contac z Feb. 9. Everyone px Wall Street enactment of was confident thé fabulous level! jact J, ral 1085 \ s Sey j une came in t Iso appeared in the United' vear ago, and decided to in-|with $1,405,602,000 in 1965 Hour has Seven Days, said too c ime to help| Bia " : é ee eek oduction by 10 Total ted by the bulletin many Canadian companies and| ched--but th ket never spur the market to a rebound! a Cin crease weekly pr "t y als rte le Ford { Canada reported its Hoigettity for gone tingeb bi te oat reg-|0o much of Canada's resources| 'age it nie ave [fom Uhe May-June collapse, 4 a ions with 1965 figures in brack.("ave come under foreign con- Meanwhile, more and more] GARY NESBITT oa eee ol. This trend, if continued. INDUSTRIALS HIT LOW mutual funds have become spec te tial $365 4000 ($382 ' : . inancial ) weeze aces i. eaitentis bm 14 y {ros similar to the one that occurred Swings i ad J 572,000); busi 5 $266,565,000 eee lait Mav aon tine" The Dow All of these factors, plus the ($245,193,000): institutional $343, SUGGESTS COURSE « eTHTS SHREW on thes SU 294.000 ($269.320.000): indu Mr. Gardon's new book, The 7 hott mad par af "his ca. ye : * $64,103,000 ($190,485,000); er Choice for Canada, urges more The 'ep me aul ti LOSING TO ARMY : ' as ro i u neering $224,.182,000 ($318,031,- forthright federal government se 2 rt 'a pi ris : eg ase NUERNBERG (AP) Ger- ssurance Company 900) eadership and tax policy to end e ull Mar drives in. his: man wrecking companies have of Canada At the bottom of that dip, ment thorities the : i i 7 ' e201 91 , Cor nies and resources » ient authorities that the army : WASHINGTON (AP) ue hard currency igar. sales to 785,000) Quehec $39 L408 i : te ; " _.._ Wall Street chartists announced is doing them out of business Oshawa Shopping ban Premier Fidel Castro ap non Communist countrie have ($403,826 000) Ontar 9 $669. 30 Mi ieee 4 aid his differences a "hear signal meaning that One firm with a contract to de Centre parently faces a financial been running about 1,650,000 000 ($604,907 000) Prairi s $204,- with Mr zordon were OMY OM both the' industrials and the molish an old Nazi parade % squeeze this year from a slump tons = ear Another 3.000.000 911,000 ($165,812.000): Briti Co- means. not on objectives, and rails in the Dow avert 6 had| ground. is letting nidhy anuinhers Phone 725-4563 S| cron. sions uss in 1966 under a Jong- 000) ent a power struggle within the!tieming each other. Shortly Castro acknowledged ! erm arrangement, 600,900 ton REPORT GAINS Liberal party after this bad omen. however speech this week that Cuba's to other Soviet-bloc countries The aut Ant acid | think I'm very much more' an advance was under way Pasties \ 4 1968 sugar harvest will fail to 600,000 tons to Peking and 400 a eee at spe 2 2 optimistic than Mr Gordon Oddly enough, last Thursday TOWNSHIP OF EAST WHITBY Hastings 1700 755 2 ae n Hd wee reach 5.000.000 | ton 000.000 000 tons are needed by Cuba it-)°4™ rom tn anaaie What concerns me just a little|_ clear-cut Bear Market sig tons less than the 1965 crop. His self : es bit about this boo®--although nal under the Dow theory'? was : onal this vear was 6.500.000. This adds up to more than a bata who do the buying for i+. 2 very useful contribution given. According to this, stocks Columbus, Ontario 1 68 : that if is, to my mind, rather should go lower, but the Dow W nae Castro blamed the revet 1 000,000. above Cuba's new har It saidgthat despite wide-| pessimistic theory had been flouted les a bad drought est. Even assuming Castro has. spread Yeports of hig gher prices | think we've got a great than a year ago ropose , ion But Washington analysts, whoa 590,000don carryover from|there were marked gains in pro-ifyture in this country and we! ° Last June, William McChes H Al J I A 4 credit Havana's setback to Com- 1966 demand in March, the last month for we should go about our policies |ty.§ Federal Reserve Board To Townshi Hall .» munist mismanagement along One 'gue here is that Cuba which figures are available feeling that we can play a very cited "disquieting similarities' with the lack: of rainfs hey will cut back some of its 1966' Prices of production materials|important role in the world and|hetween conditions current then : : note. too. that' world su shipments to the Soviets injwere reported higher than injthat we can provide the: sort Of and those of 'the roaring 1920s SEALED TENDERS, marked as to cantents prices he plunged from order to maintain sales to non-| February yer cent of life for our people that we'll be This week, Martin recom it & * around 12 cents a pound in late|Communist countries. Each mil-|panies si i, unchar proud of ented in acts tiaheaed in wi e received by the undersigned UP 40 now by non Communist nations!seyven per cent foreign investment in Canada of an overheating economy 444! What happens in sugar is gen-|could put some $55,000,000 in| ore production was reported, Outlined <s apeoch ta yorene Gardner Ackley, President 1966 for the construction of a PROPOSED 3 nah sees . { evans satiny. s ; ri * erally regarded as the most im- foreign exchange into Havana's py 49 per cent, unchanged by 49/0" Wednesday, and the views Of Johnson's chief economic ad OFF IC ~ T . = a ' portant bharomete of the nearly empty coffer per cent and lower by eight per Mr. Gordon were 'attempts to viser, raised the question last < 2 A TACHED TO THE TOWNSHIP 5' sugar. Soviet aid to Cuba and|Castro, however, since MOSCOW! cent were unchanged for 47 pe profits are in the national in o . c -" the U.S. trade embargo on it reported crediting Cuba with! oenf and declined for 12 per DECRY OLD UNIFORM terest, This gave stocks one of CATIONS WILL BE AVAILABLE AT THE have only partial effect six cents a pound for its SUZAT, | nant CALCUTTA (AP)--The legis-| their worst jolis of the week TOWNSHIP OF FICE COLUMBUS ON 1s GETS SOVIET AID more than double the world), ; a in a8 latsre of the Indian state of Johnson's record $112,800,000 J A hreadia Aft Sugar cent higher than a year ago. | period end Report, said his view of| stock market week since "black 'Rising interest rates and Braiorce Bowm ¢ 5 Auto makers reported that our part in that greater ing to new highs. rate) to 5'4 per cent from 5 per) SCPn #p oS previous April Can Malt prise in Canada At the end of last week, the market 4 similar decline, however, sales up to 3,395 from 3,315 a stood at $1,463.320,000 compared the CBC television series, This excise tax cuts] of "Dow 1,000" would be ould jead only to political con The current steep decline is ulative, contributing to market Representative P toi tory rotested: t B gover By LEWIS GULICK slculated here Cuba Maritime $44.440.000 ($46,- fOr n acquisition of Canadian protested to city and govern in his countrs No, 1 -money tons supposed to go to the lumbia $132,914,000 ($184,271,- the'r differences did not repre penetrated previous lov con- blow it up for practice Headway r r ' ) 2 ciation of Purchasing Agents often disagree with Castro, | past crops, he cold not meet his duction, orders and employment shouldn't be so worried. I. think ney Martin, chairman of the i' + 1983 to some 214 cents a pound lion tons.of Cuban sugar bought|47 per cent and lower by only Mr. Sharp said his yiews on| crease in taxes as he took note UNTIL 4 p.m. on WEDNESDAY, JUNE Ist : . t ot, land's economy, long founded on rhi til! could be costly tO) cent. Orders increa ed(for-41 pe define aims more precisely." week as to whether soaring HALL _ Col UMBUS PLANS AND SPECIFI- Employment rose per Ae The Soviet Union is reported market "Brice. The Kremlin) ewe tiem s was un-|West Bengal objects to the|000 budget this year was bullish MAY 11th, 1966. 'ator he assisting Cuba with more would have to extend more| changed in 61 per cent and de- dress worn by its own marshal,|/for the market, as was his ' : : than $300.000,000 a vear, but credit to He Mia OF on GOWN aiied in only four per cent a loose white coat and baggy! State - of - the - Union address Lowest or any tender not necessarily Washington ab erver doubt the on the vol me a ba ie Loti trousers, The ounareesiors red . clgor 1965. His a -- accepted. a" Kremlin | ike to hoost eing snipped to ya in rel this costume planne ecades tion stance was carefully hal- + » in view of Castro's fraying rela The Washington analysts pre B ] Go d » by celbntat rulers, makesianced. He. broached. the pos M. Wm. Goldie, Clerk bd tions with Moscow. The Havana/dict for the coming year a con a ance 0 the marshal look like a waiter. sibility of a tax increase while & revolutionary is outspokenly. at/tination of what they term a 'ae iba , , (odds with China stagnant economy in Cuba In Commodities 1 | bonnie . , _ 14 By * 4 OTTAWA (CP)--Canada had [ Toronto Industrial. index a favorable commodity trade j GD mer mee ; ie isles: peas balance of $33,800,000 in Febru ; SELLING IS COMMUNICATION ary, the Dominion Bureau of pdt bh id vie Statistics reported Friday 9 15 90 Imports during the month were estimated at $660,900,000, an increase of 20 per cent over a year ago | Exports totalled $694,700,000 25 per cent above those in Feb ruary, 1965 The bureau said the commod ity trade halance--up consider ably from the $6,300,000 balance of February, 1965--was partls the result of the Ontario truck ers' strike m Trade in both directions would have been higher without the strike, the bureau said Imports from the U.S., the | trade flow most affected by the t k strik ere up th pe Montreal Industrial Index aged Poa IE Fy E-r- es i r : ae SS ERE oS see: 700,000 a year earlier while Ca tf nadian sales to the U.S. enjoyed 17S +e 8 EN Mt 'ea, 4 i L BEIM 4 | a 26-per-cent increase to $424 '72 170,000 from $36,600,000 | Bond Market Trading Quiet TORONTO (CP)--Prices gen erally were unchanged in quiet trading on the Canadian bond market last week | Short term Canada issue Sm Se See Soe i Dese ie whoa rome were unchanged with the 3% me April M *'/ner-cent, Sept. 1, 1966, issue| } INDUSTRIALS DOWN On ee lil: tal Responding to a. similar ronto the index at Friday's i14-per-cent, May 1, 1990, issue 1 trend in New Vork the close stood at 164.59, down was up value of industrial stock on from 168.91 a week' The at 94% bid and 945% asked the Toronto and Montreal dre { Montrep s to The 91 day treasury bills stock exchange dropped 162.86 from 168.52 were up .02 per cent to 5.10 and (CP Wirephoto) 182-day hills up .06 per cent to : ' s 1 ' a s sharply last week. At To \ I Shares Gained .. 2 ee ge The provincial market re-| In Worthington -- : me te as | Brady Placed (eucy ann-poomey. ie Jonn/mnned unchanged exeept for» on the week, closing oie Scr ano O00 Cuckoo ah mcr. cat 9 How many inactive accounts in finding out about thelr needs. sighed 10% 108 A i} Juehec per - cen : ' MONTREAL (CP) Henry , - % 2 I S ecial Wing Kilbride, 12, and Edward June 1, 1966, issue \priced al ere Ss your business ? This -- don't you agree? -- is at Valle. president of Montreal) Zellers aia IF nll n p g Eva 17 $98.00 with 17- and 25-year ma . And what chance to go and the heart of selling. At times, Locomotive Work Ltd an FOREIGN TRADING DURHAM England \P) : ' 1. Brady's 'turities: yielding 6.16 and 6 19| oO revive them -- /n person? you need to goin person, At nounced Friday that MLW -ha ae ear ee te lan Brady, convicted. triple Xm) ' found guilty per cent respectively. Both ma O In Slim indeed -- if they're out of other times, don't underestimate of Worthington (Canada) Ltd om 24 24 MM Sista Murses caus, bad Ween, gk ee es ck ee ees ae = town, But every chance if you Long Distance. It is the next. from the latter's United States moved into a special security| Holloway women's prison iniquiet and the corporate bond these files use Long Distance. And here best thing to being there. office, Worthington Corp Two Men Drown wing of Durham prison to pro-| London market was fractionally easier e is why: He said MLW and Worthing tect him from other prisoners You get straight through. pia gs Ah rig Near Port Credit ne BE seers ne , You talk, discuss, find out, Bell Canada ments hot and block -was onee used to acinar Bon Hears pulp if it ree ah | remind, You get the feel of 9 anada) he! OAK E (CE One, man|th of Britain OVER 40 YEARS EXPERIENCE! g able to manufacture. sell and/drowned in Lake Ontario. nearirahherv gane bef hey y E gg GvaniGae or HP BA: Wek ak : things and know whether tribut thi-net ny Cr 2 day r P anved tr ther prison zs ¢ ribute Worthington pro Po ' redit Satu jay and an-| moved to o her prisons. FU L Lick. aitd endic. dlamakened truck al> there's gold or dross in your files, i otner Cled avempting to res The problem rte Stee woys on the reody to serve you, And you'll be surprised how We ngtor Canada) Ltd. cue him nabhesse"was stoppin 2) people Fuel Oi! Budget Plan available. 7 has a manufacturing plant in) Dead are Roland Mathews) getting in to free them} a pri much gold you can find by Brantford and sales officesj;and Robert Horsely, 38, both of! son official said | ye lB Bh aos simply communicating with across Canada through which it! Oakville tn Mpatte's Gane a its ec TO co : TOSS akvill | your inactive accounts. By markets ompressor pump Police said the men were needed to prevent other i | } f : b dontenia. valven and othar pred wedibers bt A Garty Of Raven goa takin Hevenee him. | U HI IN giving them information, by ducts aboard a 30-foot launch. The! Manv prisoners have said-in no} ¢ asking questions. By telling Worthineten "ve td |boat was about a mile fromjuncertain term t they ® . them of new products, by will continue to operate under|Port Credit when Mathes felll would like to do to Brad COAL & 723 3481 110 5 its present name withoul; overboard and Horsely dived in' they got their hands on him."| SUPPLIES m KING ST. W. ' change of personne the an-|to rescue him, Horsley was pro Brady, 28 a stork clerk, was | rs nouncement said. nounced dead in hospital 'convicted at Chester Friday acquired af! oiitstanding share ler jailed for f ! taking part > murders and turities closed at 98'4-98l9