Winnipeg Free Press

Winnipeg Free Press (Newspaper) - March 15, 1968, Winnipeg, Manitoba Winnipeg free press Friday March 15, 1968 Boneless round steaks red of Blue Brand beef. La. Boneless 4% hip roasts re red of Blue Brand red or Blue Brand beef Rump roasts tender lean. Safeway Superb. La. Red or Blue Brand beef sirloin steaks tender flavorful. Safeway . La. Manitoba 99 sugar in White granulated. I to coloured. My. Parchment. Orange juice c be. Quality. 6 Al. Of. Tins from our produce department mexican grown. Vine ripped. Canada no. 1 Grade. 3 Manitoba grown. Canada no. 2 table Grade. 20 in. White poly bag 69 bananas 3-49 Chiquita Brand. Sweet Mellow. Pricci effective Friday for saturday March 15th b 16th, in All greater Winnipeg and Selkirk sideway stores. We Reserve the right to limit quantities. Safeway Canada Safeway him ibid copyright Canada Safeway Ltd. Gold sales Strain Winnipeg s Banks Winni Eggers went to the Bank by the hundreds thursday to buy Gold and found every scrap of Gold Bullion in the City had Long since been stashed away by investors As a hedge against inflation or in the Hope of a hike in the Price of Gold. Today was the heaviest Day i be Ever had in my said Bank of Nova Scotia Gold trader Gerald Wunderlich. We Haven t had a Supply of Gold bars for some time perhaps a week so we have been Selling Gold certificates. I have to wire Toronto for confirmation on the certificates. I be sent them a number of wires today and i Haven t had a reply. Usually right away. They confirm today was the first Clay in my life that i Haven t had time to talk to a he said. Futures trading was suspended about dec. 10 when the world Gold Pool asked Banks around the world to Stop future deliveries on credit. Before that All you had to put up was about three per cent in Cash and we would Advance you the other Banks told the same Story. Hordes of buyers and no Gold. The Bank of Nova Scotia Vas the last place to have any observed one Gold trader and now All they can do is write one Bank official said i be been a trader 30 years and i be seen crises like this before. Some of them looked just As dangerous As today. If people would just keep out of the Market i think we might have got Over this whole thing much More some local Bank officials say they Are discouraging customers from buying Gold if they can. How Long would Gold protect you if we did said one Bank Gold trader. How much Gold did Winnipeg Gers buy thursday no one knows for sure but estimates of More than one million dollars seem reasonable. One Bank alone reported sales thursday of nearly half that amount. The Gold certificates being sold by Winnipeg Banks represent actual Gold kept in Bank vaults and the certificates can be traded on the International Gold Market. Most Likely the certificates would represent a portion of a Johannesburg followed Lon on s Lead and the South Afri an Reserve Bank suspended foreign currency dealings. The -. Dollar slumped in Frankfurt and Zurich and the German and Swiss Central Anks stepped in to support it. N. Zurich no Gold was available after the recent buying spree. A hectic session was predicted n the Paris Exchange a free Market open to speculators and not tied to London. London s announcement that was closing its exchanges Oday caught markets in the a East already in session. In Hong Kong Gold prices fluctuated wildly arid confusion reigned but trading was less hectic than the last few Days. In Sydney Australia Gold Stock prices slumped after spec ocular rises and in Tokyo Stock arid commodity markets rallied sharply. Banks in West Germany resumed limited Gold trading after suspending sales for nearly two hours. But with the main Market in London closed dealers were unable to quote a Large Gold bar vaults. Holders in the Banks of certificates can Exchange their paper for actual Gold on demand when the Gold is available. Most Winnipeg investors would Likely wind up with Gold wafers if they decided to Cash in their certificates. Interlake residents hit report continued when it came to specifics commission s provisional plan however or. Wop Ford found Tor the Interlake education himself at a loss for words. System which was released March 9 by the provincial government. Among recommendations m the report Are construction of two vocational schools one at Ashern and the other at Arborg. W construction of a composite High school at Stonewall and enlargement of the existing secondary school at Selkirk to be used As another composite Ligh school. E closing of Many Small elementary schools in the inter Lake Region and the eventual conversion of 10 existing High schools including one at Teuton to elementary schools. Elimination of one of the five present Interlake school divisions. About 700 persons present signed a petition formally pro testing the boundaries commis Sion suggestions for the Educa Donal future of the Interlake area. The petition was limited to residents of Teulon and District. It is hoped other Interlake districts will soon draft and sign similar petitions. In addition to citizens of the Village of Teulon pop. People attended the Large pro test meeting from Many sur rounding Points. A contingent of 75 Fisher Branch 50 Miles North of Teulon travelled to the meeting in school buses to get an idea How their children would feel b eing transported lengthy Dis Tances to and from school under the system proposed by the boundaries commission. Daniel Macneil principal of the Fisher Branch High school said the ride had t been very chief sneakers at the meeting besides Reeve Wop Ford and or Macneil were Emil Moel chairman Interlake schor1 division mayor kens Denooy of Teulon Walter Griffin. Teulon District member of Rockwood r. M. Council and Edward t. Revel Teulon High school Prin Cipal. Without exception the speakers arranged by the chamber spoke against the boundaries commission educational plan for Interlake. Or. Moeller former progressive conservative the Teulon area said he is what the provincial government has achieved in the area o education in the past decade by he thinks the boundaries com Mission recommendations Foi Interlake Are a Little too great a Little too some say it s Good i some ways. I say it s bad in too Manj ways. Reeve Wop lord an Arborg resident arrived late and unprepared for the meeting. He said when one of the chamber of Commerce members invited him to be present he imagined he would be Able to discuss the commission s report in a leisurely manner around a table with perhaps a dozen Teulon businessmen. Apologizing for having to speak off the Here Wop forc said he wished to make Crysta Clear the fact that the com Mission in t stuffing anything Down anyone s the commission s report i merely a series of recommendations to the provincial govern ment through the department o education he said. The commission is Well War of the problems of furnishing the sparsely populated inter Lake area with a Moder education system he said by we tried our darn est and a "100 per cent of the opinion it the Best we could but he hoped the essence o the protest in t simply move to Vii boy up Teulon re estate valium. To questions from the audience about the details of the Interlake report he repeatedly answer i Don t know. In rebuttal mayor Denooy old the boundaries commis Ioner you came to Teulon in we pared. You should have been prepared we just got on March l the report it took you twi to write and Yoi Don t know what s in London halts Gold Rush Price. French president de Gaulle called his principal financial and monetary experts together Lor a special meeting on the Gold crisis. Jacques Rueff one of de Gaulle s chief monetary ers would be served if their continued specialists said the present ridiculous monetary system is breaking up before our european economic observers doubted that the runaway Gold Rush had ended. Bullion dealers in London said the measures announced in Washington were in sufficient land too late to restore Public Confidence in paper Money. The West German govern ment advocated introduction of a free Gold Market to hinder speculation in the Metal. Presumably it would be in addition to the official Gold exchanges with government set prices. In London All markets and the foreign Exchange rooms of Banks were shut tight and there were widespread reports that the London Stock Exchange would be kept closed monday in a further attempt to Cool the speculative fever. On the Paris bourse Exchange dealers and Gold Sellers gave the buying rate for the . Dollar at francs Down from thursday the top for the year. The Pound was quoted at 11.50 francs off from thursday. With the resumption of limited trading in West Germany one leading in Frankfurt said Good c custom orders did not exceed a few Cilos. Other Banks were follow a the same. Line. Since no quotation was Avail Able from London the thursday Price was being used in Ger Many. Legussa the big commercial firm handling most of West Ger Many s Bullion Trade stuck by its decision not to sell Gold and other precious metals. Swiss Banks opened As usual but refused to accept new Ord ers for Gold. Zurich normally accounts for about one third of the world s demand on the Lon Don Market. Swiss Bankers generally welcomed the London closing and . Measures to strengthen the Dollar. In Moscow the communist party Organ pravda blamed the Gold crisis on aggression in Vietnam. It claimed that Gigantic expenditures the United states is making to carry on its War Effort had shaken Confidence in the Dollar and raised the demand for Gold to panic proportions. Exchange open and everything reported the Netherlands has to Gold Market. Informed sources did not expect the Cen trial Bank to increase its Dis count rate. Bank of Fin land suspended All foreign Exchange transactions in. View of he worldwide financial crisis. Gold Market in Beirut was closed. Tiny Gold mar get was at a standstill one source said italian Banks decided not to accept any orders for Gold today. R it e s e Rye Bank of Rhodesia suspended All dealings Exchange for the time being and the. Stock Exchange closed for the Day. Central Bank of the Philippines threw its full and unqualified sup port behind the . Stand to maintain the present Price of Gold. Malaysia and Singapore suspended All foreign. Sex c h an g e transactions to. Await the outcome of Mancial crisis. The Price of rubber and tin Rose to their highest level this year amid Strong demands for commodities on the local exchanges. Hong speculation drove the Price of commercial Gold of 94.5 fineness to an All time High of . An ounce. Three weeks ago the Price was Trust Deal nears the Montreal Trust company Las called a special directors meeting March 20 in Montreal consider a takeover of investors Trust company a a Holly owned subsidiary of the investors group of Winnipeg. Montreal Trust would take Over All operations and assets of the company with the exception of investors Trust s pension und assets while the investors group would pick up a further .0 per cent of the shares of Montreal Trust company. The investors group announced last april they had picked up shares 15 Jer cent of Montreal Trust s outstanding Stock in a Swap that saw Canadian Pacific invest ments Given shares of investors group and in Cash the proposed Sale of investors Trust has already been approved by the investors group Board. If the Montreal Trust Board approves and All indications Here Are they will the Sale must still obtain the Blessing of the Federal Treasury Board. Assets _ of investors Trust company at dec. 31, 1967 were million up from million the previous year. Pension fund assets which will remain under the control of the i investors group following the Sale amounted to at the end of 1967. J it is expected investors group will attempt to form another Trust company to administer the assets of their pension funds. A new Trust company would Likely remain As Transfer agent for wholly owned subsidiaries of investors group but other Busi Ness would be left to Montreal Trust in which investors group would own 25 per cent of the voting Stock. At dec. 31, 1967 the total assets administered by investors group was billion up from billion the previous year making it the 13th largest financial institution in Canada. Canadian Pacific investments at present controls about one seventh of the outstanding shares of investors group while Imperial life Assurance com Pany of Canada holds 30 per cent of investors group. The shares of investors Trust company Are All issued to investors group which listed the capital of the Trust company in their 1966 annual report at the investors group annual report As Well As the report of investors Trust for 1967 Are at the printers and will Likely be issued within the next few weeks. C. E. Atchison chief executive officer of investors group and t. 0. Peterson chairman of the Board were both out of Winnipeg and unavailable for i comment. County week end specials 1 limited quantities personal shopping no deliveries Nice n easy All popular shades list Price special lady Patricia hair Spray firm and regular 10 of. Compare 99c special 57 textured thigh High Spring shades sizes 9 to 1 1 i values to special 94 pfc puddle jumpers girls and boys sizes 2 to 6x. Navy Grey special 1 n runners ladies sizes 6-9 Childs sizes 7-4 White Black Blue Navy s ladies special 1 shirts Perma press assorted Spring shades sizes 32 38 compare special f ladies Denim jeans Navy Only sizes 10 20 Reg. Special Windshield Washer anti freeze cleans ice slush and dirt 160 Al. Of. List Price special charge it 3 convenient Zeller s credit plans Westwood Village shopping Centre Northdale Polo shopping Centre shopping Centre downtown store i of acc ave Henderson Hwy Portage ave i ;