f|

Instalment Finance Firms...

Cut Indebtedness To Banks.

eae. Last week, it dropped

By NELSON ‘OTTAWA (CP)—instalment fi-

year financial reverses end damaged

failure of Atlantic

Corp. to meet its bond payments—have sharply reduced their recent indebted- eee eh ne eas to the chartered banks. i the chartered banks for ready eash and provide an important pert of money-market activity by their notes. During the 2%

ti i i

:

Ey fT te ty li

‘ ls $F

on. the finance

by ensuring they had oney to carry on after Atlan-

a2 if il

|

3

’ There was an immediate jump in chartered bank loans to the instalment _ finance. companies

further, to $378,000,000.

After. the Atlantic Acceptance failure, repercussions among other finance companies meant

tie’s default: + Following the drop: last month

THE WINNER - NO BONES ABOUT IT

RR ee ty

OTTAWA (CP)—Nine of the 191 new standing commit of the House of Commons. Have held’ their organizational’ meet- ings and some became lembroiled in controversy almost |immediately.

| Normally these first meetings merely select a chairman, and lapprove routine motions.

| The fin committee hit a snag when it came to setting up a steering gfoup responsible for agendas and res.

Marcel Lambert (PC — Ed- monton West) moved that the group be comprised of two Lib- erals, two Conservatives and one member representing all of the small parties:

Bert Lebeo (SC—Cariboo) pro- tested this would deny two of the three smaller parties a voice in committee arrange-

ments. ;

David- Lewis (NDP — York South) proposed the issue be shelved until a later meeting and the committee agreed. ARGUED ABOUT SIZE .

The 25 - member tr eommittee argued about the size of its quorum, some members

suggesting 13 be required for a meeting, others wanting 10. Reynold Rapp (PC — Hum-

ling out for 10, sald: he didn’t want to see the committee ait

ansport |tee on miscellaneous estimates

boldt - Melfort - Tisdale), hold- |c

8 Tie 00 ee ee 2 100 New House Com ° 45 Embroiled In Controversy

around idle for half an hour

mittees

Flamme

4

US. Increases Bonds’ Interest WASHINGTON (Reuters) —

President Johnson has an- interest on U.S. sav-

Cent oa peewee ere

Ag = Quebec - Mont- cipation ts

waiting for a larger quorum. morency . James Byrne (Kootenay; Transport—Joe Macaluso (L acanien serntic Soares East) said the committee's de-| —Hamilton West) and Gustave | ov, U.S. fighting men $n’ Viet

met a out of a study r passenger services will be important and should not be decided by 10 members.

It was agreed to set the quorum at 13. j

Several MPs suggested the committee hive experts to help it deal with financial data from the railways.

WANTED ANALYST H. A. Olson (SC—Medicine Hat) said a cost analyst would

As usual, the election of com- mittee chairmen and vice-chair went ing to the lineup previously determined by the government. | : One hitch in this arrangement almost occurred in’ the commit-

and

ar. L—Restigouche- | UYi® - : ate) sad Wallace Neo con increase = bitt aes ngs ogg Stand orders—Patrick selin (L -- Richmond . Wolr |betitive with other savings

an James MeNulty (L—Lin. |7!2, such as commercial banks e

Justice—A. J. P ves Forest (L—Stanstead Th Miscellaneous ot tnantga:.. \vles results from a decision ta- Yves Forest (L — Stanstead Fernand

Park) “and |e owe taterest rates.

‘ken by the federal reserve sys (L—|tem, an anti - inflationary

WASHINGTON (CP) — Post- ponement of several new Cana-

when Conservatives nominated James Ormiston _ (PC—Melille) for vice-chairman. He lost:

respectively, of the various

sex West) and. Ovide La-'of view,

dian securities issues in the last

ae (Reuters) — Foreign|uarter of 1965 improved : the A r Tuesday expressed willingness

Etsusaburo Shinna | United States balance - of - pay-

$200,000,000, com- statistics

| chames of new forefey secaritttes | ty

t

expected {2 March. But 8 totalled about $270,000,000, com- | probably will not be made pub- with nearly $400,009,000 | lic either, Mr. Pepin added. for the third quarter and nearly | The study was ordered by the $1,200,000,000 for the full year. former Conservative’ g 0 ve:rle The Canadian postponements ment and was one of the main the first uarter of 1966, done points in its national develop- U.S. request, helped keep the | ment program.

full-year total for such new for- | ei eign issues within the range of} FRENCH MAKE DRESSES

ments figures by between $150,-

$1,000.000,000 to — $1,250,000,000/ Quebec has about 200 women’s existing anpually since 1962. | .jothing factories produce : ing neatly $200,000,000 worth of

Report Ready — | On Power Grid

OTTAWA (CP) — A consult- ant’s confidential report on the Proposed national powe. grid was received by the government in 1964 and will not’ be made public, Mines Minister Pepin disclosed in the Commons. | Replying to former resources minister Alvin Hamilton (PC— | Qu’Appeli=), he said the 1964 report: was of a preliminary nature and contained coniiden- tial information about public and private power utilities. uA

The final report on the study

H.R. DOANE AND COMPANY

and _ WINSPEAR, HIGGINS, STEVENSON € DOANE

Chartered Accountants 134 RICHMOND ST., CHARLOTTETOWN

Saint John, Halifax, St. John’s, Montreal, Toronto, Winnipeg, Edmonton,

In Loving Memory of “DAD”

Chesley W. Buell

Murray Harbour, P.E.I. duly 22,° 1916 Feb. 19, 1963

“Absent from the body.

Present with the Lord.”

Ever remembered Wife, Carrie and Fainily

Calgary, Prince Albert, Vancouver

Feb. 9

Criminal Abortion Claimed

_ More Prevalent In Married *

1998. This :is close to a 25-per-

“eent mortality rate charzed to abortion.’ : However, improved methods ef police investigation should help to reduce ‘what is be- lieved to be the third most pro- fitable crime in the country after narcotics and gambling, he said. . we SEEKS LEGISLATION Sections of the Criminal Code with et to therapeutic abortions aré Gonfusing, he said. As a result, the general coun-

|

efi of the Ontario Medicat As- |.

sociation has recommended leg- islation be enacted to ensure an operation to. terminate a preg- nancy be lawful under specific c#rcumstances.

Graton WANTED SHARE

ows, » newspa- pers, tombstones and wigs have all -been taxed at one time or another.

CENTRAL PRINTERY

Phone 4-8506

be

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