Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 11, 1966, Winnipeg, Manitoba Fkr Csc pk64s, mom pay july 11, 13 the business world Banks position improved but still not As wanted the formula for establishing the maximum rate of interest Banks can charge would permit on present application a one Point increase at cent however there still in t the leeway for significantly loosen ing up the rigidities in the system or greatly enhancing the Banks ability to compete with other institutions. It does not the Rush is on but not on Gold by Athol Retallack Canadian press correspondent Dawson City Yukon up truck Driver Ron Holloway has found an unusual Bonanza in this one time Gold Rush area. Or Holloway is salvaging an estimated feel of rare tight not when they Are easy. That condition should prevail the resort of the Competition of for some time yet. The tvs Ornealo 1c ill f j. The Market is still the surest j Fae Ikea until cling the j tary conditions which prevailed surest Way of equities. What about the Deposit Side of indications Are that this won t the Banks operations the come about for at least two used in construction of a water system. The Timber was used by the experienced once again. Present ing the Klondike Gold Rush to construct 12 Miles of a 70-mile flume c a r r y i n g water from increase in the interest that can years some think it May be five Tombstone Mountain to to be charged ought to be reflected years. But at least the ceiling Narsiza Creek appear either that the pro in an in the interest win eventually come off Assum Arl Fry. To Cir 3c 1. Tombstone Mountain is in the Ogilvie to u n t a i n Range 60 Miles North of Here. The flume brought water for Gold mining operations from the Mountain almost straight to Worth of equipment and re turned to the area with a Crew of 11, a Caterpillar tractor and a truck. A 19-mile Road was built to bring the Timber out. We made the last trip about the Middle of april. The big Lowboy truck broke through the ice when we crossed the Klon Dike River and that took time to Salvage and finished our work for the time up to that Point he had steel which he Hopes to sell to japanese interests. Or. Holloway agreed to pay 10 per cent of the Salvage value Bonanza Creek 12 Miles South j brought out Board feet of of Dawson City where the which he estimates will Klondike Gold strike was made sell for at least for each in 1896. Except for the Redwood umber All the Wood used in the flume has rotted. Or. Holloway Hopes also to Salvage an Esti mated. 600 tons of steel straps used to hold the flume together. Board feet he Hopes to get because of the Scarcity of the Wood he set up a planer 12 Miles from Here and removed the weather enc Estment on the boards turning out deep red beautifully grained lumber. Or. Holloway who drives a raring the summer he will mail truck Between Dawson i Mike to bring out re. City and Whitehorse 275 feet plus the South became interested in the raised Freedom to set rates As the Market decrees will be soon achieved. The average yield from Short term canals will have had to decline by almost j Point from present Levels i that is paid before the ceiling will by John Meyer removed. It seems unlikely that the average yield from the Canadas will changed be fore the new formula goes into effect. What then Are the rates depositors. The be Small savers should definitely j Benefit but one Caa Only guess at the. Extent of the Benefit. They la probably not get the full Point. For one there is the Cost of the Deposit insurance. For another there is the overlap Between left periods i ing the amendment can be i sustained through and in present political Circum stances that is no Small accomplishment. Or. Meyer is financial editor 01 the Montreal Gazette. His column appears regularly in the. Free press. The known As the you Yukon ditch and realized the i Korr ditch was built for have some Salvage 000 by construction men who value. Had come North after working last Winter Asing a motor on the Panama canal. They sized Toboggan he reconnoitre had to Battle permafrost and Wade through Muskeg to com plete the the Remote Mountain country through which in March the ditch runs. Bought paper paper Board converting with Many year cd Purut Tuini Cert control pen Onnel Lupe Vii Iofi desire change. Box 1745 free press of the material takes front the ditch to Yukon consolidated Gold corp., which still operate Here. Money at work my uhf Ottil Apiag 896 Lutt Fott tick of the clock. Approved mortgage investments with no risk undertaking Are the perfect High Teco fatty High interest investment. For full information Contact or. D. W. Read at 233 Curry building phone 9434523. O Concession. The prime rate in the United states has been the Banks certainly will be raised by Points since Freer to bid for funds on the december the rate in Canada j open Market but not As Only "4 Point in the same j the increase in the ceiling period. This is quite enough to j suggests. They Are already suggest the prime rate will paying what in current Cyndi simply move up from the i tons appear to be excessively present 6 to the future 7 rates. Bank bids for some of that s45 million offered by British Columbia went to finance companies at cent. Even without the american example there was Little Hope of important adjustments in the g 6j per rate Structure. The one Point sex months terms the Banks increase is not by itself enough Money requirements though. Reestablish the gradations Between the rates paid by different classes of borrowers. And of course As Long As there is a limit on what the Banks can charge the prime borrowers Are forced to subsidize other classes of borrowers to the will be somewhat lessened by a reduction in Reserve require j ments. These the Abil Ity to pay More competitive rates on deposits to bid More actively in the Money Market the. Increase in availability of extent that the Banks have i Lenda ble funds from reduction funds available. At the same in reserves requirements will time those rationed out of the permit uie Banks u compete Banks Are forced into higher i More vigorously but the extent rate situations. I to which they can will still be or. Sharp is presumed to j circumscribed by the continuing recognize this. His retention of maximum on. The interest they a maximum rate albeit at a can charge. They re better off higher level and adjustable to but net so much better Oil that j changing conditions is accepted j the advantages anticipated by As a political Compromise. The Royal commission from nonetheless it ought to be intensified Competition will be emphasized again and again that the time to remove the ceiling is when conditions Are consequence. Fully realized it s still the Public which loses out As a Mont Teal Tau stride Index Industrial stocks Rose in value on the and Montreal Stock exchanges during the week. At to Ronto the Index stood at 162.89 at fridays close compared to 161.87 the week tie Rise in Montreal was to 162.03 Frona 160.55. Up wire photo produce wholesale monday july 11, 19m Allied fruit produce Law. Potatoes raw California 100 ibs. S.30 cabbage new ont. 3.00 Green unions Doz. .40 cooking onions Wesh. Lettuce Calif. 3 5-00 peppers .40 tomatoes 35 ibs. Carton Calif. 800 Radones. Cello Doz. 1.20 commission House prices butter non tender Fate .56 Price to producers for Arad a Ings delivered Wynn too. Cases m eluded As reported by r. A. Non state Ltd. Grade a Uarte. M Grade a medium Grade a Small. -32 Grade .3" average Woof Sale to retail car toned Price f . Winnipeg reported by the Canada dept. Of Agri culture for july 7. Grade a Large 47.7 Grade a medium freight rates reduced Winnipeg ;