Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 13, 1965, Winnipeg, Manitoba Winnipeg free press saturday february 13, 1965. Processes of persuasion raise Many questions it s True that in a general Way Canada s position ought not be seriously affected by adoption of the new measures to Correct the deficit in american payments. Their closer examination though does raise a number of questions for which no ready answers Are available that uncertainty was quickly apparent in the Bond Market thursday morning where prices were marked Down by five cents in the Short end and an eighth in the Long end at the opening. The results of the Treasury Bill auction later in the Day were reassuring but hardly convincing that All eventually will be Well. Most of the uncertainty arises in the administration s Reliance upon persuasion As opposed to legislative penalties. American investors who have been attracted into foreign markets by higher returns Are to be persuaded to gradually liquidate their position. American corporations with extensive direct investment programs Are to be persuaded to Cut them Back. How insistent though will this persuasion be How discriminating and How responsive those to whom it is to be directed no one yet knows. How discriminating the persuasion of All these questions prob ably the most important for canadians is the question of discrimination. Will the processes of persuasion recognize the special balance of payments relationship of Canada to the United states will they Dis Criminate Between an american position in Canadian finance company paper say and a position in British paper will they discriminate Between direct investment in Canada and direct investment in Europe one would expect it if the administration is to be at All consistent in its approaches. After All having recognized that special Canadian relation ship in the original provision for and Extension of the exemption from the interest equalization tax for new Cana Dian issues the administration can hardly now turn around and deny it in the processes of persuasion. The governing consideration in that relationship is the level of reserves not the individual transactions that enter into establishing that level. It should t matter then How Canada covers its deficit with the United states As Long As it does t exaggerate its requirements. If the administration is consistent the present concern about possible adjustments in Short term interest rates can be dismissed. Canadian finance companies do depend rather substantially upon american interest in their Short term paper. If this were Cut off it is doubtful the Canadian Market could immediately a com accelerating monetary expansion but there Are physical limits to that. As for direct investment it is doubtful there would be much change Here even if the administration made no distinction Between areas to which it is directed. The strength of can Ada s expansion requires Contin Iodate it without forcing up j using direct investment in Amer rates. There seems to be question that the Bank Canada would do worry of false Teeth slipping or irritating Don t be eur Barrasse by Loose false Teeth slipping dropping or wobbling when you eat talk or laugh. Just Sprinkle a Little fas Teeth on your plates. Thin pleasant powder gives a remarkable sense of added Comfort and Security by holding plates More firmly. No Gummy gooey pasty taste or feeling. It s alkaline get fas Teeth at any drug counter. Carry the extra weight by its utmost to j Tion. No ican owned subsidiaries simply of j to maintain a competitive Posi there will be borderline Nakina hearings finished by Ira Drysdale Nakina ont. Up the Freedman commission Friday ended its week Oug hearings in this Northern Ontario railway Community into the problem surrounding the car s announced run through plan for train Crews. Nakina a Community of nearly 800, was one of the rail centres involved in a disruption of car operations last oct. 24 in a dispute about the length of Crew runs. It has been a Tiern around Point for about 40 years. Train operating Crews on the 244-mile Hornepayne to Armstrong run change at this Midway Point. The new car plan would have the Crews bypass Nakina and run right through Between the two terminals. Or. Justice Samuel freed Man of Winnipeg was appointed by the Federal government to investigate the dispute. While Here he got into the cab of a diesel locomotive and examined caboose facilities. The car contends transportation conditions require the rail Way to be competitive and that Are part of the product of an improved opera Tion. The Nakina women s anti car run through committee said in a Brief Friday the car established Nakina for its own convenience and now again or their own convenience they want to destroy the roots which they themselves the Nakina improvement District contended in a Brief the run through was a matter of life and death for the Community. Citizens of Nakina must not become the pawns of Auto the oct. 25 car proposal planned to go into effect in con Junction with a run through at Wainwright was a first step and would have meant the car has said that four trainmen at the most might have had to move. The plan was scheduled for full implementation by 1966. Instances in any event but these will not be frequent enough nor important enough to seriously affect these capital move ments. Canadian borrowing from . Banks will be affected but not immediately nor is it Likely seriously. Cautious attitude in Long term the uneasiness in the Long Tarry Market one suspects is simply a reflection of the larger uncertainties about precisely How the new measures and the persuasive processes a c c o m paying them will apply. Once the first new Issue has tested the Market that uneasiness should quickly evaporate. The fact that the initial Mark Down was so limited is indicative of. Really no More than a sensibly cautious attitude. Actually that the bulk of the immediate Long term borrowing at least in the american Market has been completed. But for All these rationalizations one is still left to conjecture about the intangibles. The response to so mixed a bag of measures particularity in so sensitive an can never be fully anticipated. The use of persuasion is a relatively new element in the Market the Success of persuasion in keeping Down Bank interest rates was undoubtedly a Factor in its employment in a balance of payments context. It does t follow however that Success in the first relatively simple application will necessarily mean Success in the More Complex application. Or. Meyer is financial editor of the Montreal Gazette. He column appears regularly in the free press. Freedman hears suggestion Nakina ont. Polit ical group suggested Friday the possibility of further Mineral development and subsequent transportation demands should figure in plans for car employ ment Here the new democratic party club of Geraldton 40 Miles South of this terminal 200 Miles Northeast of the Lakehead said in a Brief the Freedman com Mission on railway run through Rich Iron Ore deposits have been found Only a few Miles from Nakina. To Send skilled Railroad workers from the Nakina area at such a time seems questionable Ning. It is possible that More of such skilled people will be needed in this area shortly to operate Branch lines into mining operations and to handle extra traffic of All kinds. Expansion rather than Attri Tion seems to be what should be planned for at this the Ink has proposed run Crews 244 Miles Between Hornepayne a n d Armstrong right through this traditional Home terminal and turnaround Point established about 40 years ago in scantily populated North Ern Ontario Woods. The railway says run through would save the publicly owned system a year at a Kina. The plan which had been scheduled to be fully effective by the fall of 1966, would have meant the cutting of 50 jobs from a total of 91 As of last oct. 23. Help for women Montreal my Guu alumnae society is consid ering setting up a program similar to that of the Radcliffe Institute of Independent in Boston which finances House hold help for married women. The help will enable women Between 25 and 69 to do schol arly or creative work without feeling they Are neglecting their families. Venezuelan troops Hunt red guerrillas by Norman Gall Cabure Venezuela special tons the rugged mountains of Falcon state have become a War zone a zone of terrorism repression and tense psychological warfare As eight companies of the venezuelan army seek to trap and destroy an estimated 150 to 300 communist guerrillas operating Here for the last three years. External evidence indicates that it will be the Long War advertised in the abundant communist literature of viol wins 1000 you can too Winnipeg Man Peter Jackson Cash award Winner or. Peter Boyd. Of 69 Barber st., receives from Peter Jackson representative or. H. package of the new full King size Peter Jackson filter tipped cigarettes purchased by or. Boyd contained one of the special certificates Worth Cash that Are inserted into a number of Peter Jackson packages. Buy a package you too car win in King size f filter tipped a famous name since 1111 ence deeply influenced by the writings of red China s Mao tse Tung which has proliferated Here in the convulsions of the last five com communist terror san and guerrilla activity Iti Venezuela to the Long wairs1 of China Viet Nam and Algeria. Revolts spread for the last two years the governments of p r e s i de n to Romulo Betancourt and Raul Leoni have been frequently announcing the imminent annihilation of All guerrillas in Venezuela. But these rebellions far from being destroyed have appeared Over wider areas during the past year. Together with previously established guerrilla operations in the Western mountainous areas military sources believe the new centres in the Andes connected by the principal water ways of the Region form a Chain which could Divide the Venezuela military in Case of a general uprising coordinated with communist Urban Gerril Isar uni Dades tactics de co operation operating in Many cities. The developing guerrilla operations it is believed Are economically critical. The Petroleum Industry alone in recent years has suffered sabotage damages estimated in the hundreds of millions of dollars not including the More recent mysterious explosion of a danish Tanker anchored off Punto fijo in Falcon in which five seamen were wiled. Sources agree most sources agree that the appearance of several new pockets of guerrilla activity represents an Effort to Force the army to Large numbers of troops in anti guerrilla operations on several fronts weaken ing the government s capacity to resist Urban upheavals and lightning leftist military revolts such As. Those at Barcelona in 1961 and puerto cabello and Carpano in 1962. Ill is estimated that present anti guerrilla operations require 10 soldiers for each guerrilla. Seize heroin new York Bureau detectives have arrested Learlon Nettles 41, whom they describe As one of new York City s most Active ers. In his Possession Friday night police said they found 11 pounds of uncut heroin Worth in its unprocessed state it has a potential value of More than Honor archbishop Mobile a a Bonal organization of negro roman Catholic laymen has presented its meritorious service medal to the White archbishop of the Mobile Birmingham Cath Olic diocese most Rev Thomas t Toolen received the medal Friday from the of flights of Peter Cuver. Grain in review by a. A. Weir Price changes for the week under review were Oats Down at Barley up v4 at 1.28v4, flax up i at Rye and rapeseed unchanged at and All basis the close of the March and May futures As at thursday. The visible Supply of All grains declined four million bushels during the week. The Farmers delivered six million bushels against the Large total of 23 million the previous week. Overseas Clear an c e s and Domestic consumption were ten million bushels. Wheat. Prices Are about unchanged from a week ago. . Futures Are cents. The recent world Price adjust ment seems to have found a level where prices May stay for sometime or until such time As the area be comes stabilized if to tet is possible. War news always did affect commodities of every description and if the present situation or deteriorates importers Are Likely to be vitally interested if Quick shipment and deliveries can be completed. Some moisture was received wednesday in parts of the . Winter wheat areas at places where the need was becoming urgent. Crop conditions in Western Europe s Winter wheat belts Are still reported to be Good. France has increased her wheat acreage to 10.6 million acres from 9.9 million. France usually gets an average yield of More than fifty bushels per acre in their wheat production. The Argentine and australian Export surplus has been Estima Ted at 570 million bushels. The Southern hemisphere Are aggressive competitors when their yields Are Large. Of Weir climate makes the urge to get the have to sell out of the country As fast As possible. This May explain some of the urgent Selling and Price cutting of recent Date by these two countries. The Winter wheat acreage is Small in this part of Canada and is not usually a Market Factor. The Winter Rye acreage. Is likewise very Small but constitutes practically the whole acreage to that crop. The Long drawn out longshore men s strike in the . Is not settled yet but some reports suggest might end by monday. Meantime .export business is Zero which is causing concern now in government circles. Flax. Flax has been Active this week with some parcel lots seed sold daily to Japan and tile United kingdom. There was no help from Market As Beans declined about is cents from the top Levels of monday. Wednesday witnessed the full ten cent limit Permis sible decline in one Day and. Further declines have since been recorded. Russia was reported to have bought from Argentine but this did not affect prices to any extent a recent report said a Moscow broadcast in English beamed at America called for an expansion in Trade Between the and the soviet Union pointing out that Russia was desirous of acquiring tools As Well As foodstuffs from the ." press reports thursday seemed to suggest that russian Grain needs would be larger than first anticipated. Purchases by rus Sia of soybeans so far has exceeded expectations. While the amounts that Russia will need cannot be estimated the actual business comes suddenly and without warning. Rapeseed. Rapeseed continues to Trade near the High prices of the crop year and in the week s trading the Price level remains unchanged. Japan and great Britain have been the buyers of rapeseed this week the declines in soybeans did not affect rapeseed which seems to run into Good buying on All minor declines the Trade seems a Little thin at times when buying and Selling orders of importance Are received. The same can be said sometimes of the soybeans where the open interest is again approaching the 400 million Bushel level after about a 60 million Bushel reduction from its former peaks of recent Date. Coarse grains and Bye after making new highs for bar Ley the Market declined a Little with a More Active Trade in the pit. May Oats declined a Little from its former Peak of .83, but Trade was not aggressive in Oats. American Oats were lower this week also. As the Price level in May Rye remains unchanged from the week it the Trade has not been very Large. Brown again Heads Virden game fish Virden Man. Special Bill Brown was re elected presi Dent at the annual meeting of Virden game and fish association Walter Welgan named vice president a n d e. Hoffman Secretary. Elected to the Board for two year terms were Don Fraser George Frame and Tony Wade. Committees named were big game Art Grierson fish Fred Van Loo Upland game Birds Ernie Bordeniuk sports and entertainment Earl Johnson membership Dune Welch Earl Johnson George Frame Tony wads Bob Smith and Ken Milne. Here s a plan to Cut your 1964 income tax and provide a retirement nest egg n Start a registered retirement savings plan before february 28, 1965. D contributions deductible from your 1964 income e earnings Are compounded and Are tax free while accumulating. E you can vary the amount of your contributions. A choose from 4 funds for investment of your contributions. I write Telephone or drop in today for our retirement plan brochure. No obligation. Eastern chartered Trust company or. G. C. 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