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78 THE OSHAWA TIMES, Mondoy, July 31, 1967 MEETING LAST WEEK REVEALS: By JACK LEFLER profits in the U.S. pursued an} erratic course in the second quarter and first half of this} year That was evident from the flood of earnings reports from jcompany directors' meet- lings this week One of the more pertinent as- 'pects was that in many cases jcompanies recorded higher sales but slimmer profits in {con.parison with a year earlier. | | Executives were virtually. unan- imous in attributing this situa- tion to higher costs of materials and labor First-quarter profits of Ameri- jcan industries declined3.1_ per jcentfrom the compara ble }period in 1966 |STEEL EARNINGS FALL | Among the industries showing lower earnings were steel, auto- mobile, textile, lead and zinc, home furnishings, paper and construction Those boosting profits in- cluded oil, electric utilities, na- tural gas, aerospace, food pro- |cessers, service industries and }bank and insurance companies. | With automotive and con- |struction industries lagging, steel producers saw their profits fiminish sharply U.S. Steel Corp... the No. 1 producer, reported its earnings fell 44 per cent in the second quarter and 34 per cent in the first half from a year earlier Second-ranked Bethlehem Steel; Corp. had declines of 38 and 27.6 per cent in the same periods, Sales also declined <j gt UAKE ROCKS CARACAS AREA day. Residential section of ern Venezuela Caracas was one of the Stricken by the tremor worst hit areas of the west- (AP Wirephoto) Holes gape in walls 'of Caracas, Venezuela, build- ing after earthquake Satur- Governor Romney Critical Of Troops Arrival Time oz 8 & By RELMAN MORIN the news conference and told|said: 'tHe said I had to make a despite higher dollar sales vol- DETROIT (AP) -- Governorjreporters it would be necessary | definite request and certifica- ume. Unit sales of cars and George Romney said today "'we|to re-evaluate the situation. jtion of an insurrection." trucks were below the levels of were pleading for feder roop "So then I had to get Sim-| The attorney general in- a year earlier, The sales pace as fast as we could get them"| mons from his headquarters and| structed Romney to state in his in the second quarter picked up during the early hours of the|the key men in the police de-|request that there was "reason- over the first three months. Detroit riots. He listed, point by region 4 v c U.S. Corporate Profits Erratic In Past Month |ported a profits decline of 4.4/of which Mr. Bienvenu is presi- NEW YORK (AP)--Corporate |? quarter. Chrysler Corp.'s earn-| BIF and its subsidiaries from elected chairman and president. Other directors re-elected were Secretary - Thomas H. Baker, Findley and Mr. MacDonald. Chatlesbois, W. J. Mollard and| real, vice-president of La Cor- General Motors Corp. re- poration Fonciere de Montreal, Medicine chest supplies at EATON'S Low Everyday Prices! Phone 725-7373 Brand Name Patents Phillips' MILK OF MAGNESIA Tablets 200's ANDREWS LIVER SALTS 8-ozs. ROLAIDS, 75 in bottle .. LYSOL SPRAY er cent in the second quarter|dent, was named financial con- and 20 per cent in the first'sultant to BIF: | R. M. Thomas of Toronto, ings drop in those periods was|president of York Lambton 11 and 43 per cent. |Corp., owned 45 per cent by - ' BIF, was named assistant sec- OIL RECORD BEST retary, and J. .W. Dunlop was The oil industry posted the| retained as controller, best record. Sales gains and a) gi, of the 11 directors firn.ness of product prices in Bienvenu Mr. Brillant ; Mr. the United States more than Of |S enninge. Mr. Lalonde. Mr. set a decline in earnings abroad | Morissette and Mr. MacDonald arising from the Middle East! are also directors of Wellington ja ghcds International, controlled Mr. | Bank Business was hard hit during/by BIF. the week by widespread Negro} During the meeting Harold rioting, burning and looting. It) Filiott, a law partner of Mr. was estimated that 4,000 estab-|Stevens, attempted to have it lishments, most of them small.|adjourned before electing direc- were destroyed or damaged. tors. In Detroit, business almost ALLEGES VIOLATION was at a standstill. a The U.S. cost of living con-| He claimed the company has the Ontario Corpora- tinued to rise in June, reaching | violated a record 116 per cent of thejions Act by naming new direc- 1957-59 average, the labor de-|tors from the floor for election. partment reported. The gain| The Corporations Act says over the May level was 0.3 per proxies may be solicited with a cent. | |list of directors names and that New car sales in the middle|only bona fide nominations can 10 days of July rose one per|be voted on. | cent to 234,298 from 231,138 a| Mr. Elliott said he interpreted} year earlier. »{this to mean that votes could Steel output last week in-|not be cast for names not on creased 2.3 per cent to 2,220,000/the information circular. Only tons from 2,170,000 the preced-|10 names, all previous directors, ing week. were sent out in the circular, 14-oz ee Ses Fourteen names were sub-! Bae RE-ELECT BIENVENU mitted at the meeting. LAVORIS Marc Masson Bienvenu of Lawyers from McCarthy and! ]7-.oz, Montreal, who bought control of McCarthy, BIF's Ontario jagents, said the Act means only} MICRIN |that proxies from: shareholders |not at the meeting cannot be Treaniver Mt |voted for directors nominated Fern a ndl alonde, | rom the floor Mr Bell Mr | They directed that these ants '|proxies be voted only for the names on the circular. Most proxies were from Class A shareholders, who under the of non company bylaws are. entitled to elect four directors. They elected Mr. Baker, Mr. Bell, |Mr. Findley and Mr. MacDon- BAYER ASPIRIN | BUFFERIN BROMO SELTZER 5%4-ozs. ALKA SELTZER DRISTAN TABLETS Templeton's T-R-C Capsules VICK'S VAPO RUB, Economy DRISTAN SPRAY ANACIN LISTERINE TAMPAX TAMPAX Mr. Stevens last March, was re- ENO FRUIT SALTS EXCEDRIN Tablets 7-oz. Jennings, OZONOL Ointment Not re-elected were P. A. Phillips' Liquid MILK OF MAGNESIA 12-02. This is just a partial listing of the many name brand items we carry. Phone for yours now. There's no restriction on delivery. DRUGS -- MALL LEVEL -- DEPT. 212 ABSORBINE JR. all Stevens in the} A. M. Wofford, were with Mr. -ompany. Jacques Melancon of Mont- Common and Class A share- partment and we did evaluate|able doubt" that Michigan law point, the delay. at arose be-|it with Simmons and went!enforcement bodies alone could fore federal! authorities re-/through the whole picture and|bring the situation under con- sponded to his appeals. Simmons agreed that we needed | trol. "You can draw your own con- federal troops," Romney! The second telegram con- clusions," the governor said in tained the sentence: "There is an interview. "I'm just telling He said he then advised Clark' reasonable doubt that we can you what happened.' of Simmons' judgment. suppress the existing looting, Romney d nearly 24 hours} Meanwhile, the governor said,jarson and sniping without the elapsed the time he at Clark's request, he drafted a| assistance of federal troops first asked Wa ton for help] telegram. It said in part "Time could be of the es- and the moment when federal) "J do hereby officially recom-| sence." W. Needham, 56, associate edi-|c treops were committed to the' mend the immediate deploy-| Romney said read this tor of the London Free Press,|\ Mot zones of federal troops into, Message and that Clark did not gied Sunday of a heart attack! s The racial explos 41 Michigan to assist state and lo-|describe. it as either adequate in hospital at Barry's Bay p lives and hit Detro th an jcal authorities in re-establishing |r inadequate. Romney said the, ygr, Needham and his family estimated loss of $500,000,000 in}jaw and order in the city of attorney - general merely told were on vacation at their cot-|T property damage and related | petroit; |him he would take it up with t costs, : "T am joined in this recom-|the president. ; In the interview, mendation by Jerome P, Cava-| meade these pc 1. He said L the Said Editor, 56 LONDON, Ont he ment Peterbo- h miles northeast of ° f At noon Monday, Clark called | rough. 3, MAYOR of the City of De-! and "indicated" that he presi-. Mi dent would send the Romney > n liovacouion ts Needham era] Ramsey "changed; Romney said his position" requiring a|back and told him written, not just an oral, request} was "inadequate." to send the federal troops to' In reply, Romney said, "'we! Detroit. | ribed the character of what 2, After President Johnson's|we were confronted with and Clark on Detroit. The London Advertiser When Vance arrived at 4.25|the Free Press in 1936, Mr.| p.m., Romney said, he urged|Needham sérved as_ university that the troops should: be put | reporter, financial editor and on d Robert Needham (CP)--Robert| C ige in Barry's Bay, about 100|tion of associate editor. born in Glas-| Worrall, federal|gow, Scotland, came to Canada| Douglas (Adrianne) Mathias, of a called | troops. Clark also advised Rom-\at the age of 12. He began his\Chatham, N.B., and three sons, this telegram |ney that Vance would come to|newspaper career at 18 with| Robert, of Waterloo, Richard, of Joing| Ottawa, and Roger, at home. |nesday in London. |holders vote jointly for the other seven directors. Mr. Bienvenu holds all BIF's 80,650 common shares, which, at 10 votes each, were worth about eight times as much as the other shares represented at} the meeting. Cosmetic Items BRYLCREEM, 4%-0z. King size tube RESDAN , Dies anadian newspaper men ac- ompanied External Affairs) finister Howard Green to Ni-| eria for that country's Inde-! endence Day ceremonies M:. Needham returned to ondon in 1965 to take the posi- NIVEA CREAM ina JOHNSON'S BABY OIL 10-ozs. NOXZEMA Skin Cream @ PITTSBURGH PAINTS @ WINDOW GLASS @ TWINCDOW @ PEACOCK MIRRORS the many Johnson's BABY POWDER 12Va-ozs. WILKINSON'S BLADES 5's ld 09 some of at os re just products available Mr. Needham: is survived by} is wife, the former Mildred} one daughter, Mrs. 'PAINTEGLASS CENTRE NICE 'N EASY by Clairol VO5 Hair Spray Hudnut Push-Button 273 Simcoe St. S. 723-1181 The funeral will be held Wed- ARRID Roll-on Deodor 1Y2-oz. | POLYCOLOR 2-oz. tube ™.. 1.05 ee R. onlin Sie basis of the need for federal] into the riot areas at once the night editing desk before " , nine hours a) pe a . | a ba aie ' eared Sine Rte coped bp rewe were pleading for f I said I didn't want to lose/becoming night editor in 1943.) commit the federal troops al tro ie aoe pede ed-| any more time over semanties,"| In 1947, he went to Ottawa 3. Federal authorities de- get them" pleats could| Romney Said, "and I asked him|as Free Press staff writer and : Ba ¢ ave : if he needed any additional ac-| spe Sy arliz tary a ih f ar } , . ' spent 18 years as parliamentary manded bi seertification aii or , Shortly before dawn--Romney tion on my part and he said,| corres ondent. He was elected insurrection. Romney said |thought bétween 5 and 6 a.m.--|+no' ' ) iy : ae Gane "My basic point was that the|the governor, Cavanagh and top) «The mayor and I told dim Presicent of he tess Gales oo ee be sing be: police officers toured the areas that hletoer ahewa the een gag fe t : "4 y re as wi - ay. = a 32 in 190d s oe pig hey a the of Detroit where fires were Tag-|night is always worse than the can dian newspapermen who situation get out of hand. That's ing and some persons had been | first,» Romney said. "We didi; gs what we were trying to pre-|killed picnlag tie oat € diditoured Germany as guests of f Meanwhile, Ro y said, h jeverything we could to get these |the West German government, sata bo elec wane, omney said, he|troops out there in the streets, . d 1960. | i five other aid the first moves |had instructed his aides to draft|pefore dark." and ip 1900, he and five | 2 at 2.30 a.m., last/another telegram to Clark. Romney said _ that *Detr it Mayor Returning from the tour, the|Vance "indicated" he would WEED IS VALUABLE . alenho; ed governor said he read the mes-|commit the airborne forces. The seaweeds of Canada's At- rt tain |Sage to Clark who replied that/They went into action at 2 a.m. lantic coast are worth $1,000,- . "jit was" 'not adequate Romney Tuesday. 000 a year at 10.20 gton rnor said me 'and he , McLaughlin Bandshell, Memorial Park Tues., August | Featuring BERNARD TIERNEY and his ORCHESTRA Come and bring the whole family to a Free Concert of Modern Music, under the stars. You'll hear the best of Broadway and popular Hit Songs as played in "Big Band" arrangements. anted ar n that we that we Romney *"T replied that there was no way of knowing yet whether we could it, but that the best judgment of our state and| local authorities was that we! needed the troops." Romne aid Clark told him he had ved a different mili ation of the situation an in- could not said Concert sponsored jointly by General Motors of Canada Ltd. and indicated that he had the Toronto Musicians Association with a grant from the Trust talked with the general of the MACLEANS Toothpaste, POLIDENT Tablets | Giant 21/2-oz. tube | CREST Toothpaste, Family 554-oz. tube ......... POLIDENT Powder large approx. 6 3/5-oz. 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Mi- chaelis) and t Michaelis had talked with Cecil Sim- monds, comr er of the na tional guard. He said Simmons had told Michaelis the national guard could handle the situation without federal troops. I told Clark I would have to check into that."" Romney Fund of the Recording Industry. MC: BARRY SARAZIN of CKLB Feature Artist: G s aid he returned to Need An Oil Furnace? CALL PERRY 723-3443 DAY OR NIGHT MARG LEWIS on the Novachord COME AND ENJOY THE MUSIC MALL LEVEL, DEPT. 312 PHONE 725-7373 EATON'S In the Oshawa Shopping Centre NO APPOINTMENT NECESSARY OPTICIANS 17 Bond Street OVER 3000.000 SATISFIED CUSTOMERS HOURS: or ie) eal Thurs. am. to 7. East FRIDAY 9 a.m. to 9 pam. ca EY Gen jose: iy Wednesday 2nd Floor Phone 728-1261 WE FILL ALL PSI, OCULISTS AND OPTOMETRISTS PRESCRIPTIONS AT THE SAME LOW PRICES. EATON'S Telephone Order Service Open Monday through Saturday 8:30 A.M. to 6 P.M. (Thursday and Friday until 9 P.M.) Branches in Many Principal Cities.of Canada ond US --Founded 1904