Winnipeg Free Press

Winnipeg Free Press (Newspaper) - March 23, 1955, Winnipeg, Manitoba Winnipeg press. Wednesday. 1983 Page 7 Cyrus Eaton Empire t _ started in Brandon Start of construction of bran Don s new big steam Power Plant due late this summer recalls How an Industrial giant Cyrus Eaton got his Start with the old one. The 71-year-old Multi million Aire who is climaxing a turbulent career by building an even greater financial Empire on the ruins of a one Laid its Cornerstone at Brandon. Turning Point in the business giant s life came when he sent by John d. Rockerfeller to Manitoba to get a franchise for an electric Power Plant. He secured it but the interests be Hind him decided they did t want it and offered it to the 24-year old negotiator in 1907. Brandon Plant Eaton borrowed heavily and built an electric Power Plant at Brandon. In 1909 he sold it at sufficient profit to give his first stake. Originally trained for the Baptist ministry Young Eaton met rockerfeller when his Uncle preached at the Baptist Church in Cleveland attended by or. Rockerfeller. The magnate gave him a Job for three Summers As he attended College and then offered him full time work when he graduated. Eaton decided to pursue a career in the business world. From the time he built the Brandon Plant until the Early 1930 a the Young Man gathered an immense group of Utility companies stretching through the Midwest . From Canada to new York. At the same time he built in 1926, Continental shares inc., an investment Trust capital had soared to at sept. 30, 1930. Empire dissolves but the Stock Market crash of 1929 lowered the Boom on the ont Topay million new Grants Toronto Frost announced tuesday the Ontario government will pay unconditional Grants of to municipalities for education and unemployment Relief. The Premier said at a special press conference that Wil go for welfare Relief and special works projects such As the municipalities in their own Wisdom May decide no Matching Grants by municipalities will be required. Another will go at the rate of a child the average daily attendance at Prim Ary and secondary schools during the current school year. Both expenditures will be table in the House As supplementary estimates the Premier said. Make Grants at once As it is proposed to pay these Grants at once the municipalities school boards will be notified immediately that they should be taken into consideration in arriving at their municipal budgets am estimates Lor the year i said. Stated in the budget o March 10, the total amount o municipal assistance this year i More than the Grants now proposed to b voted will raise this contribution to the amount the House voted for education was with this special new Grant of our expenditures for education this year will amount to ,930 a to dispose of huge parts if his Utility holdings As a result if new Federal regulations with he depression it spelled f a giant Empire. But Eaton was not Defeated n the late 1930 s he battled through Otis and co., an invest ment banking firm and one of the new properties left him from the depression to build a second Lar Ger and More varied Empire. Milestones his Progress was measured by hese milestones Otis and co. Was one of the of ten underwriting firms in the . By 1946. Eaton today is Principa stockholder and chairman of the Board of the Chesapeake and Ohio Railroad. J he formed the Portsmouth steel company in 1946, which in turn has invested in Cleveland or tvs Eaton rust. At dec. 1931, and been written Oft its Stock Alues. As the Trust reeled each s Utility Empire also was Dis Olving. He was forced in the Early april 5 set As Federal some tax but it s not sure where Ottawa up canadians will know the night. Of april 5 How their Federal tax Bill shapes up Lor. The coming year. Hon. Walter Harris finance announced tuesday in he commons he plans to deliver his 1955-56 budget at 7 . Cost hat evening. The budget will set a and Tariff rates for the fiscal ear starting april 1 and will show the basis of government spending for the year. For the coming fiscal year or. Harris has been under pres sure from various directions to Cut taxes arid his initial estimate for the year placed be fore parliament Jan. Chopping expenditures. It has been reported that some tax cuts Are virtually certain in the new budget. But where they will lie and How much they will amount to Are anyone s . More about Bevan irom 1 pay raises go through despite Kcf Ottawa up a second Kcf attempt to Block approval of a government Bill increasing salaries of the. Board of Grain commissioners tuesday was Defeated by a vote of 148 to 65 in the commons. The vote was on a motion by Hazen argue not to give the legislation final terrified by the thought that the would Call a snap election and catch the labor party i plot wide open Over the Bevan Issue. If that happened the party might suffer a. Cataclysmic defeat. Or. Automatic reflex was to slam on and Call the Antl Bevan movement to a Over the week end he began casting about for a com Promise arrangement. It is ironical that sir Winston with the reports of his Forth coming resignation proved or. Sevan s Savior. Sir Winston is known to believe that or. Bevan is a greater disruptive Force in Side than outside the labor party and it would suit the conservative interests More to have him inside. There is even a Strong suspicion in some Laberite quarters that either sir Winston or his publisher f r i e n is deliberately leaked the news of sir Winston s forthcoming resignation at this particular time so As to influence the outcome of meet ing in favor of or. Bevan. Earlier this week or. Bevan on his own initiative called on or. Attlee for a private meeting in the latter s office in the House of commons. Details of what transpired were not disclosed but it was reported that or. Bevan resorted to threats that he would make hings very uncomfortable for or. Attlee if the latter failed t Block his expulsion move. It is assumed that or. Beyar repeated his previous Contention that he at no time had challenged or. Attlee s position a Leader of the party and that the Only differences Between them were differences Over Domestic and International policies. If or. Bevan behaves durin the six months he would be re instated in the parliamentary party. Otherwise the National executive Wilt meet again t Complete the second phase of the expulsion procedure. Cliffs Iron co. With a loan from the re construction finance corp., a on financed the fabulous Steep flock Iron mines and. Took Over he West Kentucky Coal co. He became a director of Sherwin Williams paint co. And now is owner of on of Iron As yet undeveloped on Ungava Bay Quebec. Jet wreckage recovery try Likely today an attempt to recover the wreckage of a t-33 Silver Star Jet Trainer which crashed through the ice on Lake Winnipeg last thursday will be made wednes Day by two Navy divers. Craf officials said the two divers both from the Esqui Mau b.c., Navy base were scheduled to descend to the Lake. Bottom through a gaping Hole in the ice made when the Gimli based Jet crashed last thursday night Dur ing a routine training flight. The body of the Pilot a nato student was believed trapped in the wreckage. Identity of the Pilot is being withheld by the Craf. Special Derrick equipment is on the scene to wreck age through a Hole in the ice. A diving attempt scheduled for tuesday was called off when equipment broke Down. The crash scene is about1 50 Miles North of Moke about conference 1 continued from Page 1 Eisenhower said no place Earth he would not order to obtain an honorable peace or sympathy and no chore he would not under take if it promised the faintest Hope of promoting the general cause of world peace he said however that he. Would not Lavor any conference which could be used Lor sheer propaganda purposes by the comm lists. I in response to questions about George s proposal that a big Power meeting be held without prior con Crete show of Laith by the rus sians the president said he had never intimated that his demand or deeds rather than words irom the soviets be limited to specific matters. Big Field Eisenhower said there is a whole held in which the russians could Good Faith. he s not insisting necessarily that hey agree in Advance of. A con Terence to an austrian peace treaty or. Unification of Korea. Earlier senator William f. Knowland rep Calif said the United states faces the great Dan Ger of being isolated by appease ment minded allies at any big Power conference. Senate. Republican Leader said he opposes the suggestion o George for what Knowland Callec an open end conference. He de fined that As one in which no and Vance evidences of Good fait would be required irom the so Viet Union. Knowland said in. An interview that he fears any meeting in the near future would find the free world allies badly divided. Some of our allies Are appeasement he said they have demonstrated this b their suggestions that Quemoy an Matsu be turned Over to the Chi Nese communists As part of the Price for a cease fire in the for Mosa area. While fighting for our principles we might be presented to the world As the one nation standing n the Way of a settlement even Hough it was one of appeasement according to the new Ork Herald Tribune the state Par Merit had manifested sym Pathy toward the George propos in. Henry department press officer Aid that saw very difference Between t and the administration s Posi Ion on the. Subject while .1 developments tuesday made it appear that there were growing the positions or Suydam re treated. That. George s proposal was with the White Louse. Press Secretary James c. Hagerty said there were in the. Only comment sen George had tuesday after learning of sen.1 know and s report was that f no big four meeting was held until after peace had been would be no need Lor a conference. All that would e wanted then he said would be a convention of Yalta storm meanwhile new debates broke out on the Senate floor Over publication of the Yalta papers. Filing at. 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