walk up Ark”

Animals tn pairs Samp to board ‘Noa

h'«

READYING NOAH‘S ARK FOR FILM

on film set for the movie ‘The Bible being shot on loc ation

American actor Huston is play-

Rome

rector

near a

Ontario Businessmen Studying First Securities Laws Report

By KEN SMITH Canadian Press Business Fditor The presentation of the first

two major reports dealing Ontario's securities laws plenty of weekend interested business-

of with provided work: for men Though there was little early reaction after the report, drawn up by an eight-man committee after 17 months work, was ta- bled in’ the Ontario legislature Friday, some strong opposition to at least a few of the recom- mendations. is. expectd to de- velop Major target ‘of an influen- . -tial part of the financia) com- munity is expected to be the report's recommendation — that the Toronto Stock Exchange halt the practice of | primary distribution the issue of treas- ury shares directly to the public through the exchange facilities Both the exchange and the Broker-Dealers’ Association of Ontario defended the practice in their submissions to the com- mittee, pointing out among other things that losing primary distribution would weaken the prices and strengthen the Van- couver and Montreal exchanges

MARKET MANIPULATION

Among its criticisms of the™ practice, the eommittee said it opens the door to market — ipulaion, means the ive public usually has no materi facts on which to base its iy ing and gives special advant- ages to brokers, promoters and floor traders

Another potentially controver- sial area is the report’s recom- mendations on take-over bids. It calls for legislation to protect the interests of shareholders of the company that is the object of a take-over move.

Controversy over the acquist- fion of Canadian Oil Ltd. by Shell Investments Ltd. led to the setting up of the committee in 1963.

Canadian stock exchanges and the Investment Dealers As-

sociation of Canada have a code |

of ethics covering take-over

bids and steps that should be.

taken to protect shareholders— but they have no authority to enforce it and several recent. take-overs have been eriticized | for the lack of information that accompanied them.

Still to come is the report of the royal commission investi- gating Windfall Ofis and Mines Ltd. This report, also expected

Foreign Steel May Boost Flow Into The U.S.

CLEVELAND (AP) For- eign steel is expected to pour into the United States in greater voltame in the coming months, | especially after the Great Lakes © shipping season. opens next month, Stee! megazine said Sunday.

The publication said it is thought that 1,000,000 tons a month may be imported as steel users seek to meet current needs and build stockpiles.

“They're hedging against a possible strike after May 1 and possible higher prices when a new steel labor contract is signed,’ said the metal-working weekly journal.

‘Since higher can prices are expected settlement in the can-making industry, it is reasoned that steel prices could follow a simi- lar course.”

U.S. SET RECORD

Records show that the US. produced 27 per cent of the world’s steel ingot and casting output in 1964, with @ record 126,931,064 net tons. Second was Russia, which made a_ record 93,254,600 tons, up.5% per cent. Japan was third with a record 43,680,800 tons, a 2% per cent gain.

Steel-makers throughout the U.S. posted their fourth straight weekly ingot output record last week with an estimaed total of 2,785,000 ons.

Most mills plan little change im operating scliedules this week Stee] said, but production over the next few weeks is expected to continue upward. This year’s outpat is not expected to beat he 1964 record, however, the magazine added.

>

to follow the wage |

to deal with certain aspects of

securities regulations, is not likely to come down until later his year STEEL SUPPLIES TIGHT Flisewhere on the business scene, Prime Minister Pearson asked the Economic Counci| of Canada to look into the rela- tionship between prices, costs

and incomes and sustained eco- nomic growth

The request grew out of re- cent steeli price increases

Meanwhile steel supplies in Canada are tight and likely will get tighter, the Canadian Asso- ciation of Purchasing Agents says

“Steel allocations temain in effect at all Canadian mills and steel delivery in general is de- tepiorating somewhat The sit- uation in U?.S. mills is becoming considerably tighter and this is unlikely to change until new !a- bor contracts are negotiated.”

The two main antagonists ~in the controversy over the Can- ada-U.S auto agreement § ac- cused each other of not under- standing the proposed pact

Parts maker J. D. Loveridge, general manager of IngersoH Machine and Tool Co Ltd. of Ingersoll, Ont., and Industry Minister Drury used separate press conferences on the same \day fh the same Toronto hotet

discuss the agreement from entirely different approaches

Mr = Lav arguing the case of the independent parts firm. said the pact means ruin within two or three years: Mr Drury speaking for the econ- omy as hole. said it means more production so more jobs ECONOMY CHANGING

The economy is changing. Mr Drury said and those who don't change with it will be left be- hind

In the now is as good as ter than—gold '

On the heels of the report by International Nickel Co that its earnings last vear rose to a whopping Is Onno from s1n9.9mn Ann «Ghthe) 6vear.) before, Falconbridge Nickel Mines said it came close to doubling its net take

Earnings rose to $24.965.000 or $512 a share compared with $14 228.900 or $294

The natura! gas industry Is thriving. too Trans Canada Pipe Lines Ltd. -reported. maxi- mum daily gas sales from Al- berta exceeded 1.000.000.0000) cu- bic feet last vear for: the first time. As a result, Trans-Can- ada’s earnings climbed to $13.- 243,000 compared with’ $8,928,000 in 1963

to

eridze

n

aw

mining industry. nickel or even bet-

* Trade Pace Has Slowed On New York Stock Mart

NEW YORK (AP)—The stock market this week registered its second small loss in two weeks as the pace of trading fell off a bit.

It was a continuation of small movements from day to day.

Although the Dow Jones tn- dustrial average took a loss of 6.68 on Friday, its loss for the week was only 4.13 at 891.66

Averages did inch ahead Mon- | day, Tuesday and Wednesday, but more stocks declined than advanced every day of the week except Wednesday. The rise that day, Modest though it was, was t first clear cut gain in eight

ons.

The Associated Press average of 60 stocks lost 1.4 at 333.5

Volume for the week was 25,- 612,950 shares compared with 26.674.970 the previous week.

Of 1,527 issued traded during the week, losers outnumbered gainers by the wide margin of /812 to 543. | Weekly steel production made ja record high for the third straight week. Sales of new cars in the mid-March period boomed to record totals. Both | autos and steels showed some scattered strength They were helped further by increasing hope that a steet strike could os averted.

M LOSES GROUND by the end of the week. how-

ever. General Motors showed @ net loss of 1%s at 100°.

Among airlines. Northwest

was down 4% and Fastern 15s seemed to help some of the aerospace issues. but it led to no general rally in the group Martin Marietta was up *4 and Dougias Aircraft *s

Schenley and Reading Co

gained 1% each

The five most active issues on the New York Stock Fxchange were

Erie-Lackawanna 9% on 464,700 baker off % at 6's: Olin-Mathie- son, up 448 at 48%;. Ford. up 2 at 35%%; and Texas Gulf Sul- phur, off 3'2 at 62

The five most-active issues on the American Stock Exchange were

Siboney. up “% at ‘2 on 416.900 shares: Equity Corp. up 4s at 4%: Banff Oil. up 1% at %: Seaboard World Air Lines, off ly at 9%: and National Video “A”. up 3% at 30

up 4 at

shares: Stude-

~ BUYS U.S. WHEAT |

BELGRADE ‘Reasters) — Yu-

goslavia and the United States |

have signed an agreement cov- ering the sale of about 700.000 tons of wheat to Yugoslavia, the Yugoslav news agency Tanjug reported Tuesday Value of the wheat, including transport, is about $53,400,000, to be paid in U.S. dollars over 12 years

———-—

as directing

Cities Services

working capital

|

CHURCHILL RESEARCH RANGE BRANCH

ROCKET LAUNCHING ' FACILITIES

THE NATIONAL RESEARCH COUNCIL OF CANADA

announces a competstion to fill newly created Churchill Research Range Branch that will be responsible for rocket facilities at Fort Churchill, Mamtoba. Needed are engineers and technicians for control of technical operations, contract supervision planning; scientists for upper air research work; and adm .strative and service staff. 24 positions to be Churchill based, 8 positions to be ‘Ottawa based. For further information write to the Employment Office, National Research Council, Ottawa, Competition ER 328, or see recent NRC advertisement on Post Office notice boards or your local National Employment Service Office.

Positions in its

launcthong

and

ing the role of Noah, as well

*

Income Increases

CALGARY ‘CP: —Cities Serv ce Company. a large American corporation with major invest-

ments in the Canadian _petrol- eum industry, has announced consolidated net income of $84.- 513.000 for 1964 operations. an ncreéase of nine per cent over net income of $77,504,000 in 1963 J EF Warren, Cites Service president. said in an annual re- port that net income applicable to common — stock was $6 4 share in 1964. compared with $5 92 a share in 1963

The company reduced debt by $59.444.000 during 1964 and increased by

28.961.000 to $364,763,000. Mr Warren said 7”

Production of crude oil and other petroleum liquids — ver- aged 176.000 barrels a day~ highest in the company's his- tory Production in 1963 aver-

aged 168.700 barrels a day Cities Service has subsidiaries dealing in petroleum, natural gas transmission. carbon black, chemicals, copper products. plant foods and printing inks Mr. Warren said petroleum exploration drilling is expected to -start in the summié@r. of 1965 on 292.000 acres in the United Kingdom portion of the North Sea and in an area of the Iran- ian Portion of _the Persian Gulf

BEDEQUE

Rev. RM. Cameron, pastor of the Bedeque United Church. was jn Charlottetown last Sun- day-eafiernoon where he conduct- ed the funeral service for the late Captain Wylie C_ Irving He was assisted by the Rev Ewen MacDougall

Sidney Murray had charge of the services on the Cavendish United Church charge on Sun- day, March 21. He preached at North Rustico in the morning

‘and at Stanley Bridge in the evening

Mr. and Mrs. Hedley Lowther. and Mrs John Haslam. Carleton Siding. were recent visitors at the home of William M_ Stavert and Albert Weeks

TORNADO HURTS 3

TUSCUMBIA, Ala AP)—A tornado ripped through the ad- joining Tennessee Valley cities of Tuscumbia and Sheffield Wednesday. causing heavy pro- perty damage and _ injuring about 30 persons. Several other persons were slightly injured and about 12 houses damaged by another tornado at Boone- ville, Miss.. 70 miles west of the Alabama cities

4

'6 Phe Guardian, Charlottetown, Mon.,

ACIDENT HAS MCNEY VALUE

ROSA auf

SANTA (AP -Jonn Corrnet dazed off at the whee!. his car veered into a ditch. ar he was s] ammed nto t e steer ing whee as «the seat slid forward Tnree ribs were broken

Dislodged from_ under Meath the seat was his wife's uninsured $10 000° dia mond ring, lost since last hallowe en

The 94 carat. stone flanked by two 17 g¢arat diamonds, waa. gift #from the late Kingz Tho Saud of Saudia Arab He zave it to Mrs Corrinet when her father was an officia! of the Aramian-American O1] Com pany JJ MacDonald. retired fre:zht

agent who spent many years in Souris, was here last week

line of work Jack's old home

on business in his now This is

With the fishing season com ing up again older folks are re- minded that it will be 358 years

this spring since that June day Arnold lost his life when, his dory capsized when he wen:

aid some other fishermen 1e thought needed help The late George BaBrry also lost his

life on the fishing grounds some years later when he is believed

to. have lost his balance’ while reaching for a net and fell into the sea. His body was found

caught in a net by some fisher- men days later Several other drowning accidents have taken

lives at the old St Peters har- bor site Last

summer a resident

ot

., Mar. 29, 1965. Ou! Fommy Gilbert his life in a boat accident ite is well remembered here by the older class as this vas his old b od home and some of his class who attended the old ar bor school are still. around

Bristo\has some old sites and the markings of some still are

visible John R OBnren, who yesides on witat was once the old Redmond property, tells of the old tanning pits, where the tannery was a hundred or more vears ago. can still be found

Some of the old timers say they recall] the Redmond tannery here where hides were process- ed in that long ago when Brts- tol was a busy center Those were days before the late Doc- tor Herman came here to put on shows at mght in the hall and s teeth in the day-

pul led people just to adver-

time for nothing, tise his shows

Rivard’s ; Pal Is Acquitted

MONTREAL ‘CP:'—Eddy Le- chasseur. 2a pal of fugitive Lucien Rivard, wes acquitted here n a charge of pos-

sessing an ofensive weapon,

But his blackjack didn’t come back — it was ordered confis- cated

Judge Marcel Gaboury ruled the prosecution had not proved Lechasseur, 35 - year - old self- styled importer, had the black- jack for purposes likely to en- danger the public peace

The blackjack was found in Lechasseur's midtown apart- ment when it was raided by police several days ‘ago as part of their continuing hunt for the jailbreaking Rivard

LIFE INSU RANCE RISES

Life insurance in Canada in 1900 averaged $80 a head; now it is about $2,500 per capita.

FINANCING FOR BUSINESS ON MARCH 30th, 1965: R. J. COLLINS |

of the

\

- Industrial Development Bank will be at

KIRKWOOD MOTEL Charlottetown, P.E.I.

Thousands of Canadian enterprises have obtained loans from IDB to acquire land, buildings or machinery, to supplement working capital, or to start a new business. You are invited to discuss term financing with the IDB representative.

An appointment for

an interview can be

arranged by telephoning

Mr. Collins at the Kirkwood Motel Telephone 4-8527 or 4-5147

or in advance by writing to

236 St. George Street

Moncton, N.B.

Regional Office

EE INDUSTRIAL

DEVELOPMENT BANK SR NAR Ca a

LAST

ps Wy

To Depositors Opening A Savings Account For $10.00 or More

on savings deposits with the interest calculated on the minimum monthly bal- ance and credited to your account on June 30th, and ‘December counter withdrawals only.

on savin CHEQUING with the interest calculat- ed on the minimum quart- erly balance,

31st. Over-the-

deposits WITH . PRIVILEGES

® Kodak Fiesta Camera

ty lisi

Takes, twelve 3 1/2” x 31/2 standard enlarged snapshots in black and white or color; or

slides. Complete with neck

twelve 2” x 2” colour

~ Liquor Ads Given Okay In Alberta

EDMONTON ‘CP! — Liquor advertising wil! be allowed in Alberta. publications’ start- inz Aoril 1

Premier EC Manning said here a code governing such ad- vertising was approved in rough form last week by a caucus of Social Credit member. of the legislature and

now is being completed It will

be made public next week

Mr. Manning said the new code will embody regulations similar to those in Ontario which ban inclusion of illustra- tions of liquor bottles

The change was recom- mended by the Alberta Liquor Control Board “yn view of the tremendous volume of outside

| material coming into the prov-

\incé containing liquor ads Before the Second World War,

liquor ads

@

\ ™ ® Prof. Sibley

controls al! liquor sales

secs CE etsy. OCEAN DECC C eNatasiaia tt CCT ET

province ‘edetal Early in the war. the federa : ° k

government banned liquor ad- Is Given Oo ay vertising throughout Canada

Albert> continued the ban after OTTAWA (CP) — Immugra- the was but allowed “‘institu- tion Minister Nicholson said Sat- tiona!’ advertising such as ads urday he has decided to all~# publicizing soonsorshio of bon- American Pro‘essor Mulford Q

spiels and other events. Since

all

in W

Sibley to enter Canada te-fu'f''!

iIn-

1959, the board has banned speaking epgagements “advertising nipez = y He to'd the Commons this de-

GRAMMARIANS DID IT

The word ‘debt’'was not orig- ©!s!08 has been transmitted o inally spelled with a B. The let- immigration otficials at Winni- ter was inserted later bv Latin- pez who last Friday harred Joving grammarians Prof Sibley at Winnipeg

[oe ete eee ae ee

GEOGRAPHERS.

Department of Mines and Technical Surveys, Ottawa

ECONOMIC GEOGRAPHY— Research in the analysis of regional resources —Up to $10,700.

GLACIOLOG Y— Field investigations and research on regimes of selected glaciers—$4860 to $10,700.

the board tted of limited sine and content. The GEOMORPHOLOGY— ads included a line saying they Long range research—Gemorphological map- were not inserted by the gov- ping—landscape interpretation—Up to $10, 700. ernment’ s liquor” board which CARTOGRAPHY— Atlas mapping -programmes—$4860 to $5530. The Paint University graduation in Geography or closely related fields. For senior positions, post-graduate training to Masters or Makers co. Doctorate level is required. Salaries will be commensurate

All Kinds of Paint NASH ALUMINUM Doors, Windows, Awnings D. A. MacCANNELL 140 Great George St. Tel. 4-8850, Ch’town

. 1000 Colors

with qualifications.

Submit application and resume to CIVIL MISSION OF CANADA, OTTAWA 4.

Applications are available at University Placement Offices. National Employment Service Offices and Civil Service Com- mission of Canada Offices.

Please quote 65-1600.

SERVICE COM-

i

ee em ee a ra ae -—_: af

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——

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Tuesday, March 30 Wednesday, March 31

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HEAD OFFICE: 123 Granville St, Hallfax, N.S. Branches: 148 Portland St,, Dartmouth, N.S. — 178 Water St, St. John's, Newioundiand — 1190 Main 81, Moncton, #8,