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Home Newspaper Of Oshawa, W itby, Bowman ville, Ajax, ering and neighboring cenfres-~in Ont- ario and Durham Counties. VOL. 26--NO. 269 10¢ Single Copy SSe¢ Per Week Home Delivered OSHAWA, ONTARIO, MONDAY, NOVEMBER 20, Ghe Oshawa Fines Weather Report Cloudy, some snow tonight and Tuesday. Little tempera- ture change. Low tonight 30. High tomorrow 35. Authorized o3 Second Class Mail Post Office Departmene Ottawo and for payment of Postoge in Cash 1967 TWENTY PASES HISTORIC ABOUT-FACE Test Vote Seen Due For Labor By JOHN LeBLANC jpolicy to complement the' new x timulus he. hopes will LONDON (CP) -- An historic ba He rr at i right-about-face by Britain's en hee ane Labor government has brought ie { the pound to a new low and TUC UNRECEPTIVE swapped a critical economic cri- pey j 2 evaluatio: 01 y sis for a lesser political one ot oe tes sweaters! Prime Minister Wilbon's| Genediah Gnevitebty wilt" aoadl ith a silky cet ay aes mn living costs in Britain up. The! Snes pence ey 1--l0 re-/TUC's 8,000,000 members al-| > .for easy verse an alarming outward tor- ready are chafing under pay ous wash- pial yA A GoGaes reserves--en- restraints, and initial TUC re-| : ra : iis waaigis : | ayon lined ieee aad el i Sig hee spaiite oe new move has ells and a supporters shocked and. dis- dite ae Lesa | mayed today. i In the Commons today, James But the massive puvamiment Callaghan, chancellor of the ex- majority, though conditioned for opp geen teseag tage oe - ears tae \task x overn- sepa beige, years on the ministerial theme} ent's reversal. that degradation of the pound) was_unthinkable,was expected Conservative Leader Edward to make an 180-degree turn be-|Heath was expected to propose hind the new party line and|a Censure vote some time dur- beat off a Tory non-confidence ing a debate Tuesday and) motion Wednesday. Wednesday. | Wilson faced a tougher job in! Callaghan has been proclaim-| getting the backing of the pow- ipg repeatedly that devaluation erful Trades Union Congress--|would only impose unnecessary financial and moral mainstay of|hardship on the British working his party--which will be neces-|class. The 'announcement came sary for a hold-the-line wage|under his name Saturday night. | | rellow, tur- Market Prices > with trim eckline . .. turquoise Slump Sharply to 20. Each By THE CANADIAN PRESS The Japanese stock market in eicae Nae FOREIG! Min- Council of Ministers meet- into the European Com- : : Tokyo suffered the heaviest loss-| ister Maurice Couve de ing today in Brussells on munity in the past and is Stock market prices--with thele, jt has seen since the end of} Murville, left, confers with Britain's bid for ber- rnect i ception f important gold : ees : member: expected to do so again in exceplion of important & the Second World War. West German Foreign Min- ship in the Europe. E i mining companies--felt-sharply| 'The British stock markets and istak Willy Bland : : 'he European Eco- the current bid for member- *Reg'd. T.Me around the world today in reac-\panks were. closed today by| , r illy rani t before nomic Community. France ship. eve tion to Britain's devaluation of/royal decree, to give the busi- they start the European has opposed Britain's entry --AP Wirephoto ONE 725-7378 the pound. ness community time to adjust : Heath Charges Britain "International Pauper" LONDON (CP) Repercus: |f e inevitable rise in the Sions to the 14.3-per-cent deval-cost_of living; our costs will be uation in the British pound/raised substantially.' rolled around the world today. Many "countries" expressed|TORYO MARKET SAGS confidence in the economic fu-, !" Tokyo, the stock market ture of Britain although at home|'0day suffered its heaviest fall there was bitter discontent|Since the end of the Second a-m-o-n-¢--Laborites;-Opposition World-War-as brokers rushed to Conservatives and men-in-the.|S¢ll orders. At least 180,000,000 street hares changed hands, Australia, one of Britain's) In Hong Kong, a monitored major customers, said it would reported from Communist New not devalue its dollar. China news agency correspond- But the British government's ent in London said the decision announcement Saturday tha tito devalue the pound in order to the pound would be devaiued to|solve the sterling crisis was like $2.40 from $2.80 U.S. and to\"drinking poison to quench $2.57 from $3 Canadian _ pro-'thirst voked matching devaluations in| In Moscow, the Soviet Com Spain, the Republic of Ireland,|munist party newspaper Pravda Denmark, Israel, Hong Kong,|predicied today that devaluation Malta, Fiji, Bermuda and Guya-|of sterling could léad to massiv@ na. unemployment. Major currencies, such as| The Soviet Union officially an- those of the United States, Can-\nounced today the new ruble ada, the Common Market coun-|equivalent of sterling would be tries, Switzerland, Sweden,|2.16 to the pound. Before deval- South Africa and Japan re-|uation 'it stood at 2.50. mained firm. | In Singapore, angry custom. Observers said that such posi-\ers packed banks because of tive actions could give Britain\confusion brought on by varying an export boost because its|yalues placed on local currency. A LONE STOCK exchange messenger walks across the the devaluation of the Brit- ish pound. The closure was deserted floor of the Lon- made to avoid a repetition lower sterling rate would make|The government announced it don Stock Exchange this of the confusion of the last its goods cheaper in those coun-|would not devalue the Singapore morning after a royal pro- devaluation in 1949. Britain tries. dollar. clamation ordered the build- devalued its pound from The Conservatives reacted as| The devaluatton was accom- ing closed to avoid wild dealings in the market after expected. Their leader, Edward|panied by a boost of the Bank of Heath, charged that the govern-\England's discount rate, which $2.80 to $2.40 Saturday. industrial issues lost as much as $1.50 in the first half hour of trading, apparently in fear of a possible adverse effect on ex- ports to Britain. A renewed interest in gold! mining shares, however, sent several stock prices to record highs. Dome Mines rose $9 to $58 at the opening of trading, although the big jump was trimmed a bit later. Campbell Red Lake Mines In iat bs shares of major DISCOUNT RATE HIKED US. Moves To to the change. Fe Three Guests Die Britain devalued its pound to From Monoxide $2.57 Canadian from about $3 to try to overcome its latest finar cial crisis. AKRON, Ohio (AP) -- Carbon monoxide fumes killed three guests, including a bridegroom, during the weekend at a posh motel. Sixty others needed hos- pital treatment. Thirty-two ambulances car- ried the stricken to hospitals RS VERS or mother! TIMES COVERS DEVALUATION Other stories on Britain's devaluation of the pound can . rose $4.25 to $27. "Abele : from the seven-storey, 210-room} By JOSEPH R. NE 4 ieee) rdigan and The Toronto exchange's gold be found on inside pages: Yankee Clipper Inn near here. | ' ene 3 statin Hsia gaia are pegged| ; hich s move-| _P-3.-- Devaluation could | |; ies ai | WASHINGTON (AP) -- The|P™a" | : et trim... Index, which measures ¥ {| wreck Wilson party. Killed were Bruce Plagman. | rederal Reserve Board's dis-|, I this case, however, the i. ments of major issues in tha P.3 'oy disloca: [227,01.cleveland, who was mar-| sont rate ie tch|board is bringing is rate more ivy, powder group, rose 12.26 points to) .*: ? -- No major disloca- |ried Saturday, afternoon; Betty|COUMt rate moved up a noch 1, with interest rates else-| lease 184.90. Stock: exchange officials} tion in Canada's experts to | ann Bishop, 50, a dance schoul| today in what officials described hats in (he. world: econaieel Ys++P said the jump was one of the vo ah anv : owner, and her sister Mary Bish-|45 an sept + Be oe a rather than tracking saw largest since Britain last de- . 18 -- Federal govern- a registered nurse, both|@0aF In the wake o} mea 1s) ground. Canada Sunday raised] pound devaluation. ie alae te is ais par | The rise to 44 per cent from|from five. ey oe eee va four is identical to one put into) ; effect in December, 1965, but)/RATES ARE HIGH that was for a different reason; Interest rates generally are at inflation. Instead, op, of Elyria, Ohio. A faulty burner on a swim- jming pool heater caused a vent lto clog, and deadly, odorless carbon monoxide fumes wafted valued the pound in 1949. ment cautious on reaction. In New York stock prices also, P- 17 -- U.S. Involved in declined sharply, In the first, Devaluation. half hour, the Dow Jones stock} P. 20 -- Aide Says Cal- index, a respected measure of| laghan Urged To Devalue f price movements of major| Pound in 1964. through the ventilating system|--t0, Stop n , heir | stocks, fell 10 points in heavy lof the inn, Fire Chief Robert M.|Started a year of tight money. |years. | trading. | Wright : This time, the move is de-| But some officials said the| US. nits Hard Pressed : In 18-day Dak To Battle By GEORGE ESPER |namese reported a victory Sat- farther on. * | ' SAIGON (AP)--Entrenched|yrday on Hill 1416, five miles) Navy pilots also struck rail rig: bade wera et api northeast of the Dak To air- facilities in and around the key|interest commercial banks must a har ow at a battalio \ strip. ort of Haiphong. Ipav ry r 4 rushi i U.S. paratroops Sunday in. the Pater untet gunners Sunday F eoath Gr Saieen, in the Me-|P2° the Federal Reserve for ited up with crushing interest) 18-day-old Dak To battle as|shot down five U.S. helicopters, kong Delta, the U.S. command) ™MOney they borrow from the'rates." American planes hit the Hanoi-/hut all were recovered. reported two U.S. gunship heli-| Haiphong area for the fifth) 'The Northern air war's new|copters mistakenly' fired on 4 s straight day. \targets Sunday were a concrete friendly troops, killing Hy Canadian Should Get The air. raids included blows|production plant six miles west-| wounding 40 South Vietnamese| against the fifth and sixth tar-;northwest of Hanoi and the soldiers and four American ad- More For Dollar Now gets to come off the Pentagon's'Thuy Phuong barge _yard--andivisers. TORONTO (CP) restricted list in four days, a \bardment of telephone inquiries signed to prevent a heavy flow|higher discount could tend in of dollars overseas in search of|the Jong run toward an increase higher interest rates. It's expect-|in rates consumers pay for ed to have little immediate ef-|!oans. In this connection it could fect on U.S. consumer interest|have an anti-inflationary effect rates. but officials emphasized that! When it devaluated the pound| Would be only a side effect. Saturday to $2.40 from $2.80) Chairman Wright Patman 'U.S. Britain also raised its dis-|(Dem. Tex.) of the House of count rate to eight per cent|Representatives banking com- from 649. mittee, a frequent critic of Fed- The U.S. discount rate is the|¢r@! Reserve Board policy, said lof the discount rate rise: "'I idon't like it . . . the people are HONE 725-7373 ings lof Dak To and the South Viet-!trans-shipment point one mile ow. If you're her engage- mond rings! many other concrete plant and a barge yard * near Hanoi. The U.S. command announced four American planes were lost, bringing an- A bom-|chain reaction in other curren-} cies, it will not affect the main Investments Abroad \"'intended as jthat the United States is going jto do what it\their highest level in almost 50|the ing Labor party had reduced|sets the pattern of interest rates Britain "fram a prosperous na-|in the sterling bloc, to eight per --AP Wirephoto tion to an international pauper.' Eight Children mo nal pa Injured By Car |ivz,extciet pat fe oo. n c LONDON, Ont. (CP) -- Two reported a/|would solve its balan of pay- children were in hospital in seri-|rush of betting on the Conserva-;ments crisis through devalua- ous condition Sunday after eight/tives in the next election, offi-|tion, austerity measures at | youngsters between five and 13/Cially not due until 1971. jhome and international support lwere struck by a skidding car, Most countries that devalued|for the pound as they waited for a bus with Britain are suppliers of| However, the U.S. Federal All eight were taken to hospi- food and raw materials, "mean-|Reserve Board raised its dis- ltal where six were admitted In| ing British buyers can importjcount rate one-half per cent to serious condition were Valerie|{fom them at the.same old/4% per cent 'to assure contin \Wilson, 10, with a fractured | Prices c _ juing orderly functioning of U.S. skull, and Gordon Rose, 7, with British salesmen in countries financial markets. P / both legs broken and a deep| that held fast are in effect get-| The Bank of Canada raised its The board's action is effective forehead laceration ting a 14.3 per cent subsidy to|discount rate to six per cent today at 10 of the 12 Federal ' ; ' _ jundercut their competition, in-!from five and said it would con- Reserve banks. Banks at Phila- _Also a hospital were Valerie Sicrease their profits or a combi-jtinue 'to facilitate the provision delphia and St. Louis are expect- sister Shona, 6, and brothers} nation of both of adequate credit to meet the ed to follow suit soon. Eric, 8 bie William, 7, and! jyowever, many prices on thejneeds of sound economic expan- Officials. said the action is sta om rcna ata home market will go up, result-|sion."" 'a demonstration Melody Johnson, 13, and|ing in a curtailment of buying.| Canadian government officials Wendy Rose, 8, were treated for)/The government hopes this willjexpected some slowdown in ex- /minor injuries and reteased 'turn manufacturers to the ex-jports of manufactured goods to Driver of the car was Steve|port market so that Britain's|Britain, but Finance Minister balance of payments will movelSharp said devaluation would toward the black again. jnot shake Canada's internation- ! British industrialists were di-|al financial position vided over the likely effects off The six Common Market devaluation jcountries announced they would Sir John Hunter, chairman of|all contribute to a $1,400,000,000 the Swan Hunter shipbuilding |loan sought by Britain to tide it firm, said devaluation "'shouldjover the costs of devaluation go a long way to obliterate the|and pledged support for the eco- price advantage which Japan|nomic measures taken by the E soll POPULATION ) RE: . UNITED STATES eae other hand, acilie Pee Minister Mi- \ \ { ene Knight, finance director ofichel Debre told reporters deval- { : \ Courtauld's Ltd., warned: uation did. not fundamentally i # i ; "Unless the prices and in-|change President de Gaulle's --. i | i } i comes board is effective in re-|position on British entry into the sisting the wage claims that will'Common Market, cent from 6%. in Washington, Treas Sec- the Curb Patman said the board used the devaluation of the pound as an-excuse to raise the rate. it can to maintain dollar in international mar- ahd 'Horvath, 45, of London. SAAN ga BURA " r unegrme nrnen " \/\405;| NEWS HIGHLIGHTS [eae ~ UK. Price Rises Predicted a LONDON (Reuters) -- James Callaghan, chancellor of Ae the exchequer, warned Britons today to expect price rises : in the coming months as the result of sterling devalua- tion. He was greeted by shouts of "resign" when he stood in the House of Commons to make a statement on the consequences of Saturday's devaluation. Prime Minister e hay, Wilson had also faced opposition cries of '"'resign" and ee: AYN TRIN AT. A nounced losses to 11 since \from businessmen with specula-jcategories of Canadian export Thursday with 15 flyers miss- tive investments in Englandjitems to Britain. HONE 725-7373 ing. was reported today by officials} These, he said, include food at British government offices here following devaluation of the pound. "We tried to tell them 'that any change in the exchange rate should not change the un- derlying equity,' one official Radio Hanoi reported that 17 planes were shot down Sunday, making a total of 34 since Fri- stuffs and raw materials. U.S. Marks ay. : The belief grew among Ameri- can commanders that the Com- el Soap in its own enient case. Blue s, June Geranium, 1oire Cherie ae oe PHONE 725-7373 t munists at Dak To are trying to do what they achieved earlier this year just below the demili- tarized zone--draw large Amer- ican forces away from thickly populated areas and pin them down in the sparsely settled mountains. About 6,000 Americans and 4.000 South Vietnamese now are at Dak To, 270 miles north of Saigon, opposing an estimated 6,000 to 8,000 North Vietnamese. North. Vietnamese soldiers dug in on a hill 14 miles south- west of Dak To killed 40 para- troops of the U.S. 178rd Air- borne Brigade and wounded 42 in all-day battle Sunday. CLASH ON HILL 1416 Elsewhere in the area, two U.S. 4th Infantry Division, com- panies fought four miles south FRIGHTENED South Vietnamese villagers weep as they are rounded up by U.S. Marines at Loc Son, South, Vietnam, during a sweep of the area. Leather- necks landed by helicopter, fh A found hidden bunkers in the village and proceeded to gather the villagers for questioning on North Viet- namese activity in the re- gion. --AP Wirephoto said. "'But we referred them to their stockbrokers and _ bank- ers." John Mackie, chairman of the British Automobile Manufactur- érs Association Canada, said in an interview he believed most major exports such as' cars, whiskey and woollens will be af- fected. | Ernest P. Carr, president of |the Canadian Importers' Asso 'ciation, said only one thing can jbe said with any certainty at} oe present time. | "It should make it easier for| \Canadians to buy British goods {They should get more value for their dollars." | G. Keith Blair, a director of ithe Canadian Export Associa- tion, said that unless the pound evaluation is followed by al Milestone WASHINGTON (AP) -- The United States celebrates today a milestone some experts contend should have been observed more than two years ago--a population of 200,000,000 people. About 11 a.m. EST, the U.S., officially at least, becomes the fourth nation in the world--be- hind China, India and the Soviet Union in that order--to reach and pass 200,000,000. Alexander B Trowbridge, secretary of commerce, under whose jurisdiction the census bureau falls, is to lead the cele- bration in the commerce depart mert lobby where a_ census clock has been ticking off popu- lation gains for 40 years, "out, out, out." ,.In THE TIMES Today .. Chrysler Vote-----P. 9 Henry St. Commencement--P, 5 By Generals Lose, 7-3---P. 6 Ann Landers--10 z Ajox News--5 = City News--9 Clossified--14, 15, 16 F THE U.S. POPULATION every minute while sub- passed the 200 million mark tracting a death every 17 Js this morning, according to seconds and an _ emigrant ie the demographic counter at every 23 minutes -- a net Nast idiy cl 5 the Commerce Department change of an - additional Wicks : Building in Washington American every 14% sec- "But you're making a mistake, Figure is computed by add- onds: Photo was produced my name is not Mueller!"" ing a birth every 8 sec- by multiple printing from | y d 3 onds and an immigrant two negatives z : --AP Wirephoto 'i i u mh]