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. JOHN A. MACDONALD

Chargeable.Word Rate Increased

regulations adopted at the last world wide communications con- ference in Geneva in 1958 and | will be placed in effect by all) countries Jan. 1. : Companies involved are Can adian, Pacific Communications, |

;

In yesterday's report of a pro- c regional high school for mercial Cable

fellingt lis on, these figures were’ frongly reported. ee

. Canad- National Telegraphs, Wes Union-Anglo Cables.

c anedian Stock Exchanges Are Quiet, Colorless In Year

- By GREG MacDONALD ‘Canadian Press Staff Writer In a year of economic recov- bry, 1959 was quiet and colorless Canadian stock exchanges. ‘Unlike their United States and n counterparts the Cana- markets recorded no booms Temained at generally low s throughout the year. ‘Industrials, investors’ champ- in 1958, lacked spectacular n except for a brief flurry

ISLAND

in early summer. that followed an upward move on-Wall Street.

Observers say the outlook for 1960 appears almost as dull un- less more pops up in the way of |business news and mining field development.

DOLLAR VOLUME UP

While share volume was down, however, dollar volume rosé j higher and was comparable with 1957's record. Price movements, though, were without vigor.

Investors quoted many reasons for the situation. They included

juror

“by American-investors in view of the big year on Wall Street; ‘high

fields.

1

‘Canadian Overséas Telecom- | ‘munications Corporation, Com-'

tight money; lack of participation |

P ‘ interest rates on bonds which con- ns Mm i EF i S jtrasted with comparatively low

| stock yields;’and not much in the, ANTS TTI nd way of development in mining |” = -

C. P. Lailey, chairman of the

Mrs. Frank Weeks left Alber- on yesterday for a two month’s sit with relatives in Sheffield, |

EIN P.E.1.. HOSPITAL ‘Mrs. John Burgoyne of North’ ranvilie is a patient in the | -EAST NOT WEST In yesterday’s Guardian it =

psting the Summerside West d. This should have been East | ‘ard rather than West Ward. |

LATE NOTICES

olumns adjoining Classified Ad er Section.)

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=e $35

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ON — At Goose Bay, Lab- dor, Dec.~28, 1959, Robert, ‘est Hudson formerly of Sum |

UDS

'

until morning,

_ Where a shor ‘Gamera tor | Piva! ile 3

‘boom with copper gyrating on the

srside, in his 30th year. Rest-|the U.S. national debt ceiling to @t the Bowness Funeral | $295,000,000,000.

Thursday at the Cutcliffe Funeral|Canadian markets. Industrials Charlottetown from 10 | acted quickly and strongly. Steels ‘short service will | became increasingly active with a.m. Thenjthe approach and start July 15 er of the U.S. steel strike.

boart of the Toronto Stock Ex- change, said “‘each of these fac-)

tors alone were capable of bring- | :

ing about a definite trend, but all

of them coming practically at} /once, were too much for the mar- ‘ket to absorb and remain buoy- Power Commission authorized | jimportation of Canadian natural | But economically 1959 was 2/848. Pipe lines and gas stocks

ant.”

good year.. Unemployment. - de-

:clined, spending for capital and/| gained gharply. government purposes rose and|

quarterly earnings and dividends increased.

STRONG MONTHS

Two of the strongest months on the market were March and-July. In March the U.S. Federal serve attempted to tighten the money supply as well as credit rates. But industrials shot higher and base metals hegan a quiet

London market. The base metal activity sent share volume in Tor- onto over 112,000,000 shares, the only time during the year when monthly volume topped 100,000,- 000 shares.

In June industrials improved and the ground was laid for an upsurge in July. The action be- gan with a flurry in specialities and spread to utilities, foods, steels and motor stocks. Wall Street moved ahead quickly when the U.S. government announced a record budget deficit for a peace- time year. Another factor in the upsurge was the signing of a bill by President Eisenhower raising

This was. the cule needed for the

However, July gains were lost in August when Wall Street ran into a sudden reversal with ease-

1 ’ i jin electronic stocks. Tight money

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expand and that the average Can- . Orville"H. Phillips, MP.

Review Of Nfld’s. Legislation: Will Not Affect Decertification

ST. JOHN’S, Nfld. (CP)—Pre

tral Canada that he wants to set- mier Joseph Smallwood says any

tle the feud that started when Prime Minister Diefenbaker said special- aid would end in 1962 and the prov- ince's fiscal position would be re-

“I made a-very

strong sugges-

hoes settled once and for all.”

_ Confederation of Canada and | Newfoundland had been a suc- cess. Practically every result was good. for the province.

Red Accepts Summit Date

By VINCENT BUIST MOSCOW (Reuters) — Premier

| Nikita Khrushe he v Wednesday {night informed Western leaders

session wou next_session,’ view.

“That review will not include legislation decertifying the IWA.”

The legislature unani- mously last March bills which | put the IWA out of business as) ‘a bargaining agent for 11,000) ‘Newfound! and _ loggers, barred | ‘general strikes secondary ‘boycotts and ’ dissolu-, tion of unions in which it appears a substantial number of interna- tional officers have been con- victed of “heinous crimes.’’ The latter bill, Mr. Smallwood said at the time, was aimed at the Team- sters.

| SEES NO TROUBLE | The premier, picked in a recent poll as one of Canada’s biggest | the May 16 date was proposed in /newsmakers of 1959, said he an- personal letters from President ticipates no further trouble from | Eisenhower, Prime Minister Mac- \the IWA except, perhaps, “a few ,millan and President de Gaulle. puerile efforts.” Khrushchev’s letter said: ‘‘It The Newfoundland Brotherhood |can be noted with satisfaction of Woods-Workers, promoted as a 4 > ‘replacement for the IWA duririg|of the summit meeting have. been a_hitter-loggers strike which also definitely agreed upon as a re- gave birth to the labor legisla- sult of consultations among the tion; now claims about 14,000 governments of the four powers.” members. ? It will be the first East-West Of-a feud with Ottawa over | Summit conference since the four what Newfoundland is entitled to | Powers met in Geneva in July, under term 29 of the Confedera- | 1955. Of the four men, Eisenhower tion agri t, Mr. Smallwood |is the only,one who attended as lsaid it is greatest hope to | head of government.

settle the family squabble, quit M A Y *

Paris May 16 for four talks.

His reply came only a day after

er

politics and write a book.

He said he thought it was clear in speeches made recently in cen-

Tas

f

me

tion. ;-: that I wanted it settled,” | Premier Smallwood said. ‘‘I want |

he will be glad to meet them in|

now that the date and the venue |

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walking on the highways, to ex- lercise courtesy, caution, and common sense at all times. |

“The ‘King’s Highway” sug- |, | gests freedom for all to enjoy.

|convenience, but no freedom\}. | should be granted to those who. carelessly turn it into a death

re | “T appeal to all citizens to think | of this matter, and not to leave jtheir good sense behind them, | when they step into an automo-/ | bile, or on to a highway, at any time during 1960. | “I-ask those connected in any | | way with law enforcement,—the | | judiciary, the magistrates, the | police, coroners and witnesses, to. carefully and impartially investi- gate, and act as may be neces: | sary, in all accident cases in | which they may be involved, and | thus impart to our citizens a real- |} ination that eutomobile accidents | can be serious business. I ‘In view of the seriousness of this unpleasant situation I do not wish to detract in any way from | it, and will therefore add no fur- | ther comments, other than to/ wish one and all a Happy,’ — thy and Prosperoug New) ear.

|

THIS WEEK AT CIVIC STADIUM |

Thursday—Pre School Skate, Free 1:30-3:00 p.m. Skating 8:00-10:00 p.m. |Friday — Skating 2:00-4:00 p.m. | ° 8:00-10:08 p.m. Saturday—Sandy’s Parkéale Royals ve -P.* Be. “Aces 2:30 p.m. Even-/ ing Skating 8:00-10:00 p.m. | Sunday — Skating Club 8:30-10:30 p.m.

FAIR

-

' |

was another factor.

OIL, GAS STOCKS MOVE The market. improved in No- \vember when the -U.S. Federal |

FRIDAY-SATURDAY

e >

|swung_upward and western, oils |

| military history. A film all C Then came announcement that es ,the U.S. Atomic Energy Commis-

THEATRE, MURRAY RIVER “DUNKIRK”

The true story of the Battle of Dunkirk—one of the most dramatic; exciting and unusual f

8 P.M. JAN. 1 AND 2.

onthe

manoeuvres in all

should see.

sion wouldn't exercise its options

to buy Canadiah uraniums after

current sales contracts expire. {Uranium stocks fell immediately | land at the end of the year were still weak.

In December, trading picked up | a little in response to increased | dividends and year-end bonuses, | although the latter were few and far between.

VOLUME DOWN

Yearly volume on the Toronto Exchange was nearly 760,000,000 shares with an estimated value of $1,847,000,000. Last year’s vol- f ume was higher at 828,599,059, but dollar volume was down at §$1,-

i ant

SATURDAY, J

NOTICE All Retail Businesses In Mon-

tague open as usual on

ANUARY 2nd

Index changes at Montreal: banks remained steady at about 61 all year; utilities started at 148.9, rose to 162.1 and closed at about 145. i

Industrials began the year at 297.6, rose to a high of 334.4 in July and closed around 320. Com- | bined began at 248.0, hit a high, of 274.4 and closed about 262. Pa-) pers started the year at 475.5, | rose to a high of 494.8 and closed | at about 494, Golds began at 89.06, | rose to 92.77 and closed around |

81. :

Volume for the year at Mon-| treal was nearly 144,000,000) shares with an estimated value,

CITIZENS OF | We wish to extend

Nicholson, 3, Hughes,

Greene,

turnover of 134,160,033 shares in

selling

of $895,000,000 as compared to a 1958 valued af $740,908,793. ik

all with the wish that 1960 will bring you health,

‘MONTAGUE |

New Year's Greetings to

Gilbert Clements, F.

.

_—

the staff and management »

MOORE & MCLEOD

if