Winnipeg Free Press

Winnipeg Free Press (Newspaper) - June 20, 1968, Winnipeg, Manitoba Thursday june 20, 1968 Low Cost financing vhf sought Toronto up a group of angry Canadian shipbuilding executives called on Ottawa wednesday to come up with a Low Cost method of financing Canadian built ships or lace ruin in the Industry. Tempers flared frequently As the executives from Vancouver Saint John n.b., Montreal Quebec City and port Weller and Collingwood in Ontario wrangled Over the problem of mounting layoffs in their Yards and stiff Competition from for eign shipbuilders. The discussion came at the opening session of the annual meeting of the Canadian ship building and ship repairing As Takis Veliotis general Mana Ger of Davie shipbuilding Ltd., in Lauzon que., said Ottawa could provide a suitable climate for Opportunity by introducing a relatively uncomplicated Low Cost method of financing Cana Dian built ships Over a Long term. Supporting his plan j. H. Regnaud treasurer of Davie shipbuilding said we re sick and tired of stud ies studies and More studies. What we want now is some action for a change. Recently they started a study of ship financing. Hell we be been ask ing for some action on the prob Lem for 10 years or Imperial life William j. Miller the Imperial Lite Assurance company of Canada announces the appointment of William j. Miller As assistant manager of the Winnipeg Branch. Or. Miller has been associated with the company since 1966 at the head office in Toronto. Large or Small offices available for rental at reason Able rates. Renovations and air conditioning to tenants requirement. Apply l1ndale agencies Ltd. 301 Lindsay bldg. We 2-6187 advertisement news Flash palladian is the name of a new Low Cost Stone floor design by the Trevi tile company Winnipeg based manufacturer of Stone tiles for the building Industry. Palladian floors consist of irregular Trevi terrazzo pieces of different sizes shapes and patterns set in a Concrete in debase. Largest of the irregular pieces is about six inches in Dia meter while the smallest is approximately two inches. Depth is when completed the floor surface is completely smooth and is Rich and interesting in design. Is used in either new buildings or in renovation work. Palladian May be used for Entrance Halls balconies restaurants hotels showrooms exterior walks and patios dance floors and Church basement floors. A number of Winnipeg compan ies have already used Palla these include Advance radio t.v., Central meats Parkside Ford and the St. Char Les hotel mall hotel Jeannie s bakery. In Killarney Frank s serv Centre in Kenora the Ken Ricia hotel. Further information on palladian May be obtained from Trevi tile company 1500 Wall St. 783-7029. Business rap up consider tar Sands venture Edmonton up the journal says Japan Ese and american interests probably will sign an agreement within a month to undertake a development in the Athabasca Oil Sands in northeastern Alberta. The newspaper says negotiations Between jape japanese consortium and Tenn eco Oil company of Texas now Are in a very delicate the interests would want to establish a Plant to extract synthetic crude Oil from the Oil Laden Sands near fort Mcmurray alta., and also would build a 950 Miles to Tanker loading facilities on the West coast. The Oil would be shipped to Japan when the project was completed in about 10 years. Jape Canada limited Canadian operating subsidiary of Japan Petroleum development Corpora Tion has been making feasibility studies on an Oil Sands development for about two years. Tenn eco with Headquarters in Houston owns a Large Oil Sands lease about 35 Miles Northeast of Mcmurray and 285 Miles Northeast of Edmonton. One company great Canadian Oil Sands Ltd., now is producing crude from the Athabasca Sands. Speculative buying los Angeles do Harry a. Jacobs presi Dent of Bache and co. Inc., said he was concerned Over the mounting volume of speculative buying. Hard earned Money is being used today to Purchase highly volatile or. Jacob said. We have a sound and growing Economy where the investor today is offered a Broad spectrum of Quality securities with established earnings records. The securities Industry has Over the years invested substantial funds to offer sound investment advice and Pownal to investors. It is therefore unfortunate that increasing numbers of people have been tempted to make unseasoned Banks interchange credit cards san Francisco do Bank of America said it has reached agreement with four Canadian chartered Banks for interchange of its Bank Ameri card credit card with the new charge card to be issued in Canada year. Banka Dericard holders will be Able to use their cards at merchants being signed up in the Toronto and Montreal areas by the four Canadian Banks Bank of Commerce Royal Bank of Canada and Toronto Dominion Bank. Holders of the Canadian cards will be Able to use their card at . Merchants honouring Banka Dericard. The two cards will be similar in appearance. The news Toronto up Neon products of Canada a Van Couver based company said today it has signed a preliminary agreement to merge with the Haughton group of Compa Nies in Toronto. The Deal subject to approval by directors of both companies Haughton shareholders and Var ious regulatory agencies is the fifth merger announced this year by Neon. Last week it announced plans to merge with Imbrey Ltd. Of Montreal basis of the proposed new. Deal will be Neon com Mon shares exchanged for 100 per cent of the common and preferred shares of Haughton. Neon shares closed at tuesday on the Toronto Stock Exchange. The Haughton group consists of four companies employing 250 people. It was set up in 1954. Royal Bank appointment to c. Heckman the Royal Bank of Canada announces the appointment of or. . Heckman As assistant Gen eral manager. Or. Herkman who is attached to the District general manager s department Toronto was formerly District general manager in charge of branches in the West indies except Jamaica and Guyana with Headquarters in port of Spain. Or. Heck Man has been succeeded in port of Spain by or. W. S. Snook formerly manager of the 360 St. James Street w. Branch in the companies Are c. F. Haughton Ltd., engaged in printing and lithography Auto mated business forms makers of mols and associates Ltd., engaged in advertising Art and commercial photography and Market Dis play and graphics Ltd., which designs and makes Point of Sale material. Jim Pattison Neon president said there Are no plans to change Haughton s manage ment. Clifford Haughton now is president of the group. Vancouver up the biggest announcement in Cana Dian mining history in 25 years will be made this fall at Copper mine n.w.t., Northern development minister Arthur Laing says. Coppermine at the Mouth of the Coppermine River on the Arctic Ocean has been the Cen tre of feverish prospecting for the last year. More than claims have been staked around Hope Lake .40 Miles South of Coppermine. Or. Laing speaking at an All candidates meeting did not indicate what company or companies would make the announcement. There Are More than 50 companies involved in staking the area. In april or. Laing announced a Airport would be constructed by the department of transport at Coppermine. Coppermine 900 Miles North of Edmonton. Montreal up share holders of Canadian International Power co. Ltd. Wednesday approved the subdivision of authorized no Par value common shares into 110 Par value common shares. At a special general meeting the company s directors were granted approval for the subdivision of five new common shares for every four common shares now held. Fractional shares would not be issued it was decided and any rights regarding these shares would be consolidated into full shares. I dividends of 26 cents on preferred shares the same As. Last year s figure were announced. A common share dividend of 40 cents in . Funds was also announced on the new common share s. Loss of million still mystery Ottawa up Canada s balance of payments Ledger showed deficits on both current and capital accounts during the first Quarter of 1968, reflecting the temporary troubles of the Canadian Dollar. The Dominion Bureau of statistics reported. Today that improved exports Cut the current account deficit to from in the same three months of 1967. But Long term investments in Canada slowed to a trickle and several Hundred million dollars in Short term funds fled the country resulting in a capital account deficit of lbs said it still cannot explain with any precision on the Loff of some in Short term funds. The combined balance of pay ments deficits totalling were met by sales of . Dollars from Canada s offi Cial Exchange reserves. Reports subsequently published to cover the months of april and May show that Cap ital movements have reversed the Exchange reserves Are re building and the balance of payments picture will be much improved for the second Quarter. In the first Quarter of 19s7 the capital account showed a favourable balance of All but Matching the current account deficit. The balance of payments is an accounting of Canada s Busi Ness transactions with foreign countries. The current account presents the total value of All goods and services imported and exported the capital account shows the value of Loans investments loan repayments and the like made in foreign countries and the value of Simi Lar transactions made by for Eigners in Canada. The Dollar crisis arose shortly after the . Announced a pro Gram of restrictions on capital movements Jan. 1. It lasted until mid March forcing the Federal government to go abroad for a variety of Loans to Shore up Exchange re serves. Canada runs a chronic cur rent account deficit largely be cause it must pay substantial sums in the form of interest and dividends to foreigners. In the first Quarter exports increased 16 per cent or to provid ing a favourable balance of Over imports. But at the same time net pay ments of interest and dividends increased by to the growth was attributed to higher profits of unincorporated branches of foreign companies and higher payments by Cana Dian subsidiaries to Parent . Companies. Interest payments on Bonds especially provincial government issues were also up. The Short term capital outflow of was up 000 from the fourth Quarter of 1967. Lbs said canadians continued to acquire Bank deposits in for eign currencies and to make other Short term investments abroad and non residents sold some of their holdings of finance company papers. Johnson signs taper gold9 Bill Washington a presi Dent Johnson signed a Bill wednesday giving . Approval to a new paper Gold International Reserve currency which could relieve some of the Strain on the . Dollar. For the first time in the world s financial John son said nations will be Able to create International reserves by deliberate and joint decision in amounts needed to sup port sound growth in world Trade and the new Law authorizes . Officials to vote for an Amend ment to the charter of the inter National monetary fund. It would provide for creation of special drawing rights a sort of currency for use among Cen trial Banks As International re serves along with Gold dollars and pounds Sterling. The sirs Are strongly sup ported by Canada. Approval of the charter amendment is one of several Steps that would be needed to make the new plan effective. If we Promise to give you a Deal on a new firebird that you can brag to your neighbors about will you Promise to brag to your neighbors firebird 400 Hardtop Coupe with optional Vinyl roof. Maybe blowing your own Horn about making a Deal bends the rules of convention. But your Pontiac dealer is wrapping up some pretty unconventional deals. Great deals. He s even Deal ing on Pontiac s great sports cars the magnificent firebirds. Our five firebirds begin with a unique 175-hp overhead Cam six and escalate to the 400 cubic Inch v8 firebird 400 which can be ordered in a 335-hp ram air version that uses those Hood mounted scoops to and because firebirds Are Pontiac they probably Cost less than you think. So think. For instance can you think of a More Beautiful Way to kiss Dull driving goodbye if you can to see your Pontiac dealer and go wide tracking in one of m firebird our magnificent five. It s perfect firebird time. Of yes and you will pass on the great word to your neighbors won t you it s a Deal. By Pontiac every firebird has to make it before Mark it the great wide track drive is on b1rchwood motors Ltd. 2554 Portage at Moray St., St. James Winnipeg Man. Phone 837-5811 see your local authorized Pontiac firebird dealer authorized Pont Tat firebird dealers in Winnipeg Towne Pontiac Buick Cadillac Ltd. So Portage ave. At Furby St., Winnipeg Man. Phone 786-3811 i-449a Park Pontiac Buick Ltd. 1290 main Street Winnipeg Man. Phone 536-8211 ;