Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 25, 1961, Winnipeg, Manitoba Winnipeg free press 25 1961 foreign Exchange Montreal up the . Dollar was at a discount of per cent in terms of Canadian funds the Bank of Montreal re ported near noon tuesday. Mon Day the Noo rate was 98 Pound Sterling up Page 15 Board chairman James w. Kerr of. The recent meeting of the Board of directors of trans Canada pipe lines limited James w. Kerr president and chief executive officer was also elected chairman of the Board. Or. Kerr formerly of Hamilton Ontario became presi Dent upon joining the company in december 1958. 3 ways to get ahead this year advice from the Wall Street journal a recent Survey shows that Many Wall Street journal readers Are earning More Money than Ever before. We Don t claim credit for the Success of our readers but we do feel that the knowledge they absorb from the pages of the Wall Street journal helps them to get ahead. Here Are three comments from readers 1. Said one Reader "1 added several thousand dollars to my income thanks to your articles on new ways of doing 2. Said another the journal gives me ideas on How to save Money. Articles on taxes guide me on what to do to keep my taxes 3. Said a third the journal gives me a better understand ing of what is going on in the world. In conversation with other men i find i can interpret Busi Ness trends a Little better than Thev these comments Are typical. The journal is a wonderful Aid to salaried men making to s25.coo a year. It is valuable to owners of Small business con Cerns. It can be of priceless Benefit to ambitious Young men. The Wall Street journal is the Complete business daily. Has largest staff of writers on business and finance. The Only business paper served by All three big press associations. It costs a year but you can get a trial subscription for three months for just tear out this and and attach Cheque for and mail. Or Tell us to Bill you. Published daily right in the Midwest to bring you vital business and Washington news immediately. Address the Wall Street journal 711 w. Monroe St. Chicago 6. Iii. Wfp4-25 Grain Market no Export business could be traced at the Winnipeg Grain Exchange tuesday but flax futures ranged from steady to two and a half cents higher in the Early Trade. Higher Chicago soybeans influenced the Rise in flax prices when nearby soybean futures opened at the 10 cent Permis sible limit. The report issued late monday afternoon by the .. Depart ment of agriculture showed stocks in All positions totalling 264.3 million bushels As com pared to 308 million bushels late last year. This year s figures will result in a tight Supply position in soy Beans according to informed opinions. Some Selling for overseas interests were reported in flax with locals and commission houses on the buying Side. Saskatchewan received scattered precipitation and was Wel come in that province. Alberta also got some moisture but Manitoba was missed entirely. Some moisture is predicted for tuesday and a forecast of colder weather for wednesday has been issued. Oats and Barley were just a Domestic Market Trade in the hands of shippers and commis Sion houses. Rye was shewing some Early strength on a higher american Rye Market and some x1 s. Buy ing. Chicago nearby a cons were up to the limit of 10 cents in a Grain futures tuesday. April 23, 1061 open Wynn Lex Oats May 77. Barley May 9711. July oct. Loova dec. Too. Flax May july 326-32514, oct. Dec. J1s. May 103 m -104 i. July oct. Chicago wheat stay 190v4, july 18s k-v4. Sept. 19114, dec. Corn May 113-1131i, july sept. 3 is k 74, dec. 120k-vs. Oats May 64. July 6574-66, sept. 88-68vs. Dec. 72 .i-v4. Rye May 115-115vi, july 11915-120. Sept. 122-123, dec. Soybeans May 327w-330t4, july 334-334h. Sept. 276-278, dec. 260-262. Minneapolis wheat May 212v1. July 213h. Oats May flax May 312. July 317. Winnipeg High Low close my 77 76h 73 of de Barley. My 97 i by of do my 323 i 321 323 i 326v. 322 324 i a 318 Hettic opening in the Southern Market. Trade was Broad an d aggressive in the soybean pit. Holland bought 200.000 bushels of american soybeans and Japan was credited with taking bushels from red China this kind of Grain transaction is difficult to reconcile with the news coming out of China., mid session prices were steady and holding the Early advances in flax and Rye but Trade was not heavy in Winnipeg. Export wheat loadings Over night were United kingdom bushels Czechoslovakia bushels prance bushels China bushels Russia bushels Germany bushels Belgium bushels making a total of 000 bushels. Lake shipments were wheat bushels Oats bushels Barley bushels and flax bushels. The Dow Jones commodity futures Index at noon tuesday was 146.00 up .27. At the close Oats were unchanged to Down Barley Down a to Rye unchanged to up flax up to Cash Craigf tuesday april 25, 1961 lak7heao wheat Board 1 it Les Dom Solo Ana . Wheat no. 1 Northern no. 2 Northern no. 3 Northern no. 4 Northern 15s m 5 wheat 153 Vuk 6 wheat 13214 feed wheat 143 a 1 am. Durum 2 am. Durum 182 a 3 am. Durum 4 am. Durum ulass ii Export no. 1 Northern 167 i no. 2 Northern Ibik no. 3 Northern .162% no. 4 Northern 158 i 5 wheat. 1ssv4 6 wheat 152 i feed wheat 14814 1 am. Durum 2 am. Durum 3 am. Durum 4 am. Durum 2 . 162 h close Prev. Cd. 167v4 16714 184 a 104 162 a .159 i 152 14814 d 182v, 17914 17514 sex. 3 . 3 . Sex. 1 feed 73% 99 i 9 96 h 99 100k by 32s of 326 de 320 i my 104 i by 107 or 109 108 to de 319u Prev. A. 77 7s 79ant 97 i 100 x. 100 i ant 321 323vi-% 103t 106% 108-1 h Chicago my 1s9k by Issei 1s774 191 197 19714 be 192 de 19s my 113 by 11794 117 muh be 118 h 118 Hills i de 120s 120v4 120 i my 64-h by 66 63% 65% As 71764 66 68 h a de 72% my 113 los a by 120 1181 be 123 321 122 de 126k 125% 125% my 329 i 330tib 333v1 278 us 262-261 i i Minneapolis my 212s 212h 212u by 213u 212% 213ii 106 a 108 Bloant 191% 116s-14 117% 1201i-h 63 h. 65-14 a 67 a by 334% so 27sli 274 de 263 i 239 my 57% by my 31315 .t12 by 319 57 317 57v-b 60 313b 31sb 118v, i20--i 125 321-320 i 325-32414 256-235% 57 a 311 316 Lawrence Green one of the founding part ners of Green Blank Stein Russell associates has announced his retirement from Active participation in the affairs of the firm be cause of ill health. Or. Green will continue to serve in an advisory capacity. Lawrence j. Green . We his associates wish to express our appreciation of his. Devoted service Over the past thirty years. Architects professional engineers c. N. Blankstein g. L. Russell r. L. Thompson d. R. Marshall d. F. Thordarson m. Herst w. R. Macduff a. Tomsej h. P. Langes b. H. Green a. W. Ritchuk. B. P. Brown Joshua Sumner e. I. Lexier v. S. Buckler s. J. Borgford w. I. Shuttle Worth w. H. Mitchell v. W. Chorley d. B. Sigurdson i. Thomassen 222 Osborne Street North Winnipeg Manitoba w. E. Vancott architect Ottawa Ontario e. M. Simpson architect Manitoba e. J. Mccudden architect c. R. Goldie architect Regina Saskatchewan j. D. Architect d. G. Bittorf architect Edmonton Alberta 1 feed 72% 2 feed 70 3 feed 67 mixed feed 46 mixed Grain 62 1 . 6 Row 107 2 . 6 Row 107 1 . 2 Row 105 2 . 2 Row 3 . 6 Row 3 . 2 Row 1 feed 2 feed 3 feed mixed Grain 179 of 175 a i67w 159 z 152 i 14811 182 a .179 i 173 Vuk 78 73 74 74 73 70 i 67 4 17 i 62 i 107 .107 105 steady Stream of booklets new York keep businessmen occupied Market i by Forbes Rhude Canadian press business editor a steady Stream of literature booklets brochures pamphlets bulletins pours from firms associations and govern ments to keep the business world informed on a Host of subjects or to put Forward Vari Ous Points of View. Among recent publications is the Canadian retail federa Tion s Survey of working con Trade for 1960. The 23-Page Booklet made up entirely of statistical tables covers a wide area concerning working hours vacations paid pensions group insurance sickness and Acci Dent benefits and rest periods. It deals with these conditions in Canada As a while and in 25 cities specifically. It also contains tabulations in regard to weekly business hours and eve Ning openings in selected cities. The Canadian rubber foot Wear association information office has issued a Booklet set Ting out what it terms the essential facts about the decline of Canada s rubber footwear Industry mounting pressure of graphs covering the period 1950-1960 indicate that imports in the Canvas classifications increased their share of the Canadian Market from 2.8 per cent to 69.5, while in the Waterproof classification imports increased from 1.6 per cent of the Market to 36.8. The report on fish eries made annually by t. R. Kinsela chief of the fisheries division of the department of Trade and Commerce is contained in the april s Issue of for eign Trade a department publication. Landings in sea fisheries in 1960 totalled pounds 14 per cent less than in 1959, and landed value was 000 compared with much smaller catches of Sal Mon and herring on the Pacific coast accounted for the lessened returns. The Trade and Commerce department is also circulating a to n g Canadian business men an attractive Booklet in color concerning Trade fairs which will be held in Ghana and Nigeria in Early 1962. A foreword by Trade minister Hees says recent developments in West Africa have created a new Market of great potential for Canadian manufacturers. Our Trade commissioners in Accra and Lagos report rap idly increasing opportunities for Trade in almost every line of the department has also pre pared an illustrated 36 Page Booklet entitled engineered pro ducts from Canada which will be distributed from the Cana Dian stand at the engineering Marine welding and nuclear Energy exhibition being held in London Windsor Chatham Peterborough gait Ottawa and Toronto in Ontario and from Montreal Winnipeg and Cal Gary. The United kingdom information Canada issues a continuous flow of material on Many topics and places. Recent booklets include the Antarctic Industrial develop ment in the United kingdom dependencies the United kingdom colonial develop ment and welfare act Sierra Leone the making of a nation education in Brit Ain . Industry Organiza Tion and production and. The Central government of the United kingdom. 10. H9 92 u Tsvi sales terminal sales subject to confirmation Market Sallis Oats 2 . Sex. 3 74 3 73vi sex. I feed 1 feed 2 feed 69h 3 feed mixed 46 1 . 6 Row 2. . 6 Row 1 . 2 Row 2 . 2 Row 3 . 6 Row 3 . 2 Row 1 feed 2 feed 3 feed 1 lost 2 3 100-% 4 90t Ersly 87% track flax 1 322 2 317 3 292v4 track 322 a Man Nearous Cash wheat . Funds Range maximum april 24 no. 1 dark nor. Spring 13% prot. Durum 60-61 221 223 durum 59 220 222 durum 58 Obj 217 221 102 m 98 02 i 92v, 91 u s8u 73 k 47 103 u 103 i 99 a 99 ii i 9.fl 83 m 91-11 is iu3k 103% Loo i 90 103vi 3211 commodity prices supplied by James Richardson tuesday. April 25, 1961 Low cd Caio october .359s 29hh 2993 2990 november september . Copper december september May . Fot Aton november 220 May 20f . Cocoa december 2330 september 22so july 2225 . Grease Wool december 12s4 july. .1225 october. 1261 Sliver May 9330 july 9s2s 9400 november 9450 9525 .1550 3810 29s2 298r 29s.-1 217 2341 2271 2210 9225 9330 9323 3400 9450 9525 sons last 3575 3550 3625 2983 2993 2987 32s- 1225 1261 0350 9323 9400 9430 9523 business in Brief Canadian sales of radios and television sets were Down in february. Sales of radios dropped to units from 149 a year ago and television sets to units from cattle offerings heavy a total of cattle 250 Cal ves and 300 hogs were offered for Sale at the Public stockyards St. Boniface tuesday. Tuesday s cattle offerings were the heaviest to Dale this year. The Trade displayed Only fair action and while condition was a contributing Factor prices on most classes were generally 25 cents and in spots 50 cents lower for the week. There was a fair demand for top grades of steers with prices generally 25 cents lower with some sales of mediums 50 cents lower. Heifers were mostly 25 cents lower with yearlings a Good 50 cents lower. Good cows were in very Short Supply with a few sales about while other grades were 50 cents lower. A few bulls sold steady. Veal calves were easier to lower. Grade a hogs sold steady to. Strong and there was no Lamb Market established. Choice steers sold mostly to the Odd High yielding kind higher Good to medium to common to Good heifers yearlings to medium to common to Good cows to ?17, heifers types medium to canners and cutters to Good bulls to common and fat bulls to Good lightweight stockers were in Short Supply and sold generally steady while plainer kinds were easier. Good Light stockers to medium to Good feeders to common and medium to Good Choice veal calves sold mostly to medium to common to s21 Good steer calves to Grade a hogs said mostly with sales to live sows to the Federal government employed employees in february compared with 345 in january and in february 1960. The civil serv ants earned in february. Canadian sales fluid milk Cream and milk equivalent per february from the pounds total of the same month last year. The january february to Tal remained unchanged at pounds. Earnings Geco mines Ltd., 3 mos. Ended March 31 1961, 20 cents a share i960, 52.6 cents. Gordon Mackay and stores Ltd., year ended dec. 31 1960, a share 1959, country marketing car loadings monday last year wheat 938 c. Grains 238 188 Trust companies to merge Toronto up Toronto general Trust corp. And can Ada permanent Trust co. Have announced plans to amalgamate. The announcement said discussions have proceeded to a Point where application is to be made for a Federal private Bill seeking approval of the move. Approval of the Bill the announcement would per Mit the companies to present a proposal for amalgamation to shareholders. Earlier this year a Canadian financial group including Tor onto Dominion Bank offered s72 a share for the outstanding shares of Toronto general and the offer was accepted by More than 90 per cent of shareholders. Toronto Dominion stated at the time that interest in Toronto general would be less than 50 per cent. At dec. 31, Toronto general had assets under administration totalling while total assets of Canada permanent Trust were on the Toronto Stock Exchange Friday shares of can Ada permanent mortgage Par ent of Canada permanent Trust closed at a share up on the Day after touching a High for the year of compared with a Low of Toronto general trusts is quoted around near High for the year compared with a Low of businessmen vocal on Trade policy topics by Forbes Rhude Canadian press business editor businessmen it seems Clear from the amount of material one hears and reads Are be coming More vocal. Trade policies in vestment policies and other topics Are getting the full treatment from scores of business speak ers who have thought a lot about the problems involved and who Deal with them in their Day to Day operations. Some quotations from recent speeches Trevor f. Moore vice presi Dent Imperial Oil Ltd what we need is big think ing big markets big capital formation and big companies which have the resources to compete with Large companies abroad. I mean big in the sense of thinking big not wealthy men. Seize Opportunity it is the so called big men who create jobs who look for investment opportunities assess the risks and make the Deci Sions. Look around at the new businesses of the last 25 years and you can connect nearly All of them to the work and initiative of one far sighted venturesome j. C. Lockwood president of lever Brothers Ltd sometimes i am asked Why we and other businesses like ourselves do not make shares available to the Canadian pub Lic. Certainly from an emotional Point of View this idea has a peal but when we look at the real capital needs of this coun try and the shortage of Cana Dian funds it seems a pity to Siphon off some of that capital to an International business which is already with ail the capital funds it needs. In the last 10 years More than two thirds of our annual net profit has been kept Here to invest in our company oper Robinson Ord president of Canadian chemical co. Ltd there is a natural tendency to swing from optimism to pessimism and it is therefore Worth emphasizing that probably the most significant feature of our recession is that it has not been worse than it has been. While it is difficult to predict How Strong the economies of this countries Are going to be in 1961, there Are Gratifying signs that the North american recession will remain fairly shallow and that the turning Point will come by the Middle of the Appeal to Public Imperial Oil this year is Mak ing an Experiment in winning wider shareholder interest in annual meetings which is an other Way of informing a Widen ing Public. Imperial s annual meeting will be held april 28 in the con Cert Hall of the Royal York hotel Toronto but Mont real shareholders will be Able to watch the proceedings on a nine by 12-foot screen in the ballroom of the mount Royal hotel in that City brought there by closed circuit television. Two Imperial directors and Mem Bers of senior management will be on hand in Montreal to answer questions arising there. In Toronto two cameras will take Over All shots and a third camera will shoot close of company and shareholder speakers. Weekly metals review new York 1 prevailed in non ferrous Metal markets last week. Demand for Copper continued at a Strong level and there was i talk in the Trade that april ship ments to Consumers might go As High As to tons that would be a healthy jump Over March s tons to the highest level since june 1959. Supplies of scrap Copper were so scarce smelters had to raise their buying Price of a cent to cents a Pound highest of the year. Lead held to Price of 11 cents a Pound with sales re ported at a Good level and Zinc was unchanged at 11v4 cents a Pound. East St. Louis basis j major metals prices j cents a Pound de i slivered. Foreign 28% cents nominal new York. Cents a Pound new York 10.8 cents St. Louis. Cents a Pound East St. Louis 12 cents new York. Cents a Pound unalloyed ingot delivered. Cents a Pound electrolytic cathodes port col borne ont., . Duty included. Cents an ounce new York 79% Pence London. Going far private comping i Utkin capital for expansion professional guidance available we can offer experienced ser vice to principals key officials or attorneys in arranging provision of capital through underwriting. Confidential of course. John l Applebaum co. Ltd. 330 Lay St., Toronto. Ontario Empire 3-8538 rebounds the new York Stock Market rebounded in heavy Early Trad ing tuesday. Gains of key stocks went from fractions to about a Point. Recoveries of some growth stocks which lost ground Mon Day ranged to 3 Points or so. American machine and foun dry which fell it yesterday re covered More than 3 Points. American photocopy. Polaroid and Varian associates also big losers yesterday recouped about 2 Points each. . Steel which reports on quarterly results after the mar Ket close today advanced about a Point. Similar gains were made by american Telephone Chrysler and Pfizer. The Toronto Stock Market was mixed during Light morning Trad ing tuesday. On the Exchange Index Indus trials climbed .19 to 561.75, and golds .25 at 83.25. Base metals were off .41 at 186.42, and West Ern oils fell .58 to 97.69. The 11 . Volume was shares compared with traded at the same time monday. Stocks eased fractionally in Light trading on the Montreal Stock Market near noon tuesday. On Index Banks were off 0.6 at 64.82, utilities off 0.1 at 144.9, industrials off 0.1 at 309.2, combined off 0.1 at 254.5, papers of 0.3 at 456.5 and golds unchanged at 75.16. Industrial volume was shares and mines and Junior oils shares. The International situation was still a restraining influence in London Stock markets tuesday. Gilt edged shares again lost ground while Dollar stocks reflected monday s Sharp break on Wall Street. Small losses predominated in the Industrial Market but a num ber of issues were above the lowest. Gold shares were quietly firm but coppers appeared easier. Bonds Montreal Bond trading in government issues was moderately Active tuesday with prices mixed by a. Grain inspection cars inspected 1.522. April wheat Oats Barley Rye flax this year last year 933 20 28 326 167 10 1 69 17 London stocks tuesday april 23, 196 Prev. Cd. Close Assoc elec 44s 43s 6d Babcock Wilcox 35s m 35s can Pacific. S4314. S43 cent mining 2si 7 4d court Uldal 43s 64 3d Dunlop rubber 26s 3d 26s 4vjd c e Ltd .37s 6% d 36s 3d it univ .60s 3d 60s Hudson s Bay 185s 165s Imp chem .75s -4wd 75s 3d Imp Tob .69s 4md 69s id Metal Box .r9s id ass by mines 68s 9d 67s 6d Shell t t 3d 9d Unilever Isis 4v6d 158s Vij at Vick Cra .37s 6d 36s 6d Bonds 214% Consols v4ar Loans funds 4s 60- 90 a a appointment l. R. Woolsey the British american Oil com Pany limited announces the appointment l. R. Woolsey As vice president of marketing. Since 1953 or. Woolsey has been the company s general manager of marketing. A native of Penzance Saskatchewan and an engineering graduate the University of Saskatchewan or. Woolsey joined the company in 1949. He has served in several key positions including area manager divisional manager of operations and director of direct sales for British american. Wmk British american Oil company dividend. Notice notice is hereby riven that a dividend of Wenly five cents 25ci share Tor the second Quarter Enri in Junu 30, 1963. Ibo inc at the rate of one Doliar per share per has Xii declared on the issued in Par value common so irk of the company other than common shores. The Alxa a Sivh Jund is payable in can Adian find. Luly Ord. 1w51, to a lint holders of record cd the close or Busi Ness on the sin Day of june. Idea l. W. K. Macdonald. Sec Clui a. Dated at Toronto. 19th. 10c1. Others 17 2 grand total contract wheat 902 Otis appointment see before buy .1 asks incentives for research Montreal up tax incentives to encourage research were urged by Herbert h. Lank president of Dupont of Canada Ltd., at the company s annual meeting. Double depreciation of build Ings for lax purposes has been permitted in Canada and now is being offered again under cer Tain or. Lank said. Why not treat research expenditures equally favor All current economic Indi or. Lank said Point to a period of difficult business conditions intensive Competition and lower Selling prices immediately ahead. This will i be Lieve be so not Only for our company but for the Canadian chemical Industry econ George h. Blumenauer w. G. Robson president announces the election of George h. Blumenauer As vice president Otis elevator company limited. After graduating . Mech. Eng from University of British Columbia and wartime service As an Engineer officer Creme in the Canadian army. Or. Blumenauer joined the company in 1946, initially As a student Engineer. In 1948 he transferred to Toronto and variously represented the sales and service depart ments in that District until 1950 when he was appointed assistant District manager. In 1953 he be came District manager and continued in that capacity until 1959 when lie returned to Hamilton head office As general manager of operations. Or. Blumenauer s expanded activities As vice president will include responsibility for a sales. Service and construction activities of the com any throughout Canada. 5 you May thoroughly inspect a full line of Quality j automatic i 3 heating i equipment i . Phone Whitehall 3-0341 qualified heating specialists p answer your questions con duct a free heating study of your Home Kyj upon request no obligation the Winnipeg Supply k fuel company Ltd. An estimated through group own Phlp become of Tual owners of Wittl High real in fast or owning Winnipeg. This investment Han is in coming increasingly popular and is one of the Best Hedges against inflation. On savings through croup ownership of selected real estate currently Bung offered in Assiniboine estates Ltd. 450 Somerset bldg. Pm. Whitehall 2-1441 a to Assiniboine 1st Ati s Ltd. 450 bidg., 294 Winnipeg Manitoba. I would like Mere information on your current offering of group ownership real estate. A copy of the prof Pertui will be Lent the each person upon receipt of the enquiry. Minimum subscription Nami address mail Coupon today ;