Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 20, 1968, Winnipeg, Manitoba Winnipeg free press saturday july 1968 15 in Japan Progress goes underground by Mike Holmes Tokyo special in Canada and most other go ahead countries Progress is marked by More and More tall buildings. But in Japan Progress has largely gone underground so far underground in fact that some Tokyo and Osaka people going Home after a subterranean Day s work have to take upward bound elevators to their subway trains. U n d e ground shopping centres some so big that they Are More like Small is have been built i under Many of the nation s main railway stations. The biggest is under Osaka Japan s second City which has More inhabitants than Chicago. This underground town boasts about 220 modern stores restaurants bars and All the usual facilities of a big shopping Centre. Surveys have shown that More than people enter the Osaka Centre every Day. Since the underground network i s linked with Osaka s main surface and subway lines it is evident that most of these people just pass through on their Way to work or going Home. Time punch clocks with automatic Bell ringing. Time cards Racks in Stock office equipment Exchange 753 St. Mary s re. -256-6167 investment Opportunity a Syndicate involved in acquiring and developing real estate in the greater Van Couver area of . Is presently considering expanding its operations with a View toward forming a Public company. All parties expressing a keen interest in investing and growing with . Should act now. Please address All in quiries to Erwin e. Biedler suite 104 Marine drive North Vancouver . The Mercante Bank of Canada w. A bean i the mercantile Bank of Canada announces the appointment of or. W. Donald bean As manager of its Winnipeg Branch. Or. Bean holds a . Degree from the univer sity of Toronto and an m.. Degree from the University of Western Ontario. Since 1966 he has been the assistant manager of the Bank s Hali lax Branch. A Beer or two in an underground restaurant in the evening is a popular Way of avoiding the train crush. I the bars employ inviting hostesses and the restaurants display ingenious and lifelike mock of their dishes. There Are 20 or 30 of these centres or Chika Gais the word Means literally underground town in the big cities. They Are probably the Best Way to overcome development difficulties with the Cost of surface land at a Square foot and higher. Underground costs Are usually two thirds to half that figure. The Chik Agai system also sidesteps the other problems that usually confront developers of surface land obstacles such As roads and other services and time consuming negotiations for the Sale or expropriation of existing property. The latest underground development announced is a Gigantic scheme for Tokyo station which already has a sizeable subterranean net work for the Pas sengers who use the Sta Tion s surface and subway lines every Day. Tokyo station in t the country s busiest that doubtful distinction belongs to Shin Juke station in an area that has developed As a Garish rival to the Neon lit establishment of Chika Gais is controlled by the construction ministry which seeks an Assurance that a new underground project will have at least potential customers. This is the main reason Why most c Hika Gais Are linked with railway terminals. In a sense the Chika Gais Are walled cities. Thick Concrete shells around them absorb the shocks and sounds of trains. These Walls Are also designed to Cope with an earthquake More effectively than Struc Tures above ground. Many Chik Agai workers Don t see the Light of Day from the time they Board subway trams to work at 8 . Until the moment they surface from an under ground station on their Way. Home in the shopping at a Chik Agai is popular with suburban housewives because they can just step put of a train and into a Bright new store or supermarket. Going downtown often Means precisely that in the bustling cities of Japan. Farm sales decrease 1.7% Ottawa farm implement and equipment sales amounted to in the first five months of 1968, Down 17.1 per cent from the corresponding period in 1967, the do minion Bureau of statistics re ported Friday. The reduction is believed to reflect this year s slump in wheat sales. When farm sales Are Good and Farmers have ready funds they invest in new equipment but during Slack times they make do with the equipment they have. Saje s of farm implement and equipment repair parts from january to May this year were valued at almost equal to the 1967 figure of Ajax Ltd., year ended april 30 1968, a share 1967, new office location Duncan Rattray Peters j3earl.e architects 234 Portage a v e n u e w i n n i p e b i m a n i t d office space for rent v soft. Of prime office space in St. Boniface on Provencher ave. Air conditioned ample parking approx. Per so. It. Depending on length of lease. Phone 247-9861 Dunsmore Beautiful new Westwood store now open summer rally revives i after sluggish interval by Gerald Clarkson Canadian press staff writer the summer rally revived cautiously on Canadian Stock markets this week after a brie interval of sluggish trading. The Toronto Stock Exchange Industrial Index the Best single indicator of Price Levels was up 1.14 to 171.29 after touching an 11-month High shortly after mid Day Friday. This Marks a 25-Point Advance since p res id e n t Johnson s speech at the end of March when he promised not to run for re election and to limit the War Vietnam. The Bull trend dates from this event. Leading groups were food processors pipelines Banks and of. Refiners while steels chemicals and Western oils lost ground golds recovered after slipping earlier in the week. Among the largest gains great West life was up 11 to 66, Dalex diversified 7 to 34 Leigh instruments 5 to us pretest. 3% to 3, Revenue properties 3% to 35% and Peel elder to 31. Other stocks touching highs for the year included . For est Calgary Power car nor an a Toronto Dominion Bank great lakes paper and Zellers. Analysts Are extremely optimistic for a Strong further and Vance with labor Day cited As male Secretary accepted Montreal up when Jean irenee Mallette has a Reg ular night out with 170 girls his wife does t worry. He is the Only male member of the 946-member National secretaries association which has 170-member Montreal Branch. A second world War Veteran who taught Jungle combat while n the Canadian army or. Mal Ette admits he s run into some Retty awkward situations throughout his 13-year career. I tried to join the secretaries association a few years ago it they weren t accepting any male members when he did become a Mem or last november it was equal y embarrassing to have the speaker address the group As ladies and but i m used to this and never miss a As a matter of fact the Ivonen have accepted the father of five sons and even Bicker a ittle Over the table at which hell sit. As executive Secretary to the resident vice president and general manager of a local structural steel firm or. Mal Ette has found it necessary to it used to giggles which Greet him when clients ask for the Secretary. Every time i answer there s sort of stunned silence. Then hey ask again for the Secre Ary. When they finally realize t s really me they Giggle. Until hey get used to me of correspondents were equally confused and addressed or. Lallette As irenee. So he changed his name to in each letter in it represent ing the first letters of his three his typing ability has reached 0 to 1.00 words a minute. I started As a typist at 15 but i be taken courses in ust about everything you can think of. I m still taking or. Mallette s Bosses agree unanimously he is the Best Sec teary they be Ever had even though Noti the prettiest. Professional t jobs easier to find Toronto up Engi scientists and other professional people have had Ess trouble finding jobs this ear than they did in 1967, the service Council said the Council is a non profit ervice sponsored by Canadian Industry which finds jobs for the next possible moment for another correction or great Frog spell. Canadian markets Are still showing a far More consistent pattern than new York Al though there seems to be at least a whispering doubt among technicians about tie ability of industrials to surge past the record level reached in 1965. This Point is nevertheless extremely close. No Orie connected with these declare that prices Are at a Ceil ing let alone of their Way Down. But analysts naturally try to cover themselves after the event by pointing to the Small print and buried sentences in their forecasts. And this is what will happen if for instance Adverse foreign developments depress the mar Ket before the end of August. However traders say that de Mand for stocks has become so heavy in relation to Supply that a lot of bad news can be absorbed before prices slide. Right now the financial out look is promising. A further reduction in interest rates is expected and Money Market developments suggest that the Bank of Canada May be about to Cut Bank rate main. The rate was reduced to 7 per cent from 7.5-per-cent july 2, and this week the Bank bought in Treasury Bills which is a nother. Step which tends to bring interest rates Down. The average yield on 91-Day Treasury Bills fell to its lowest level since january 17, although the yields to investors on Long term government Bonds were largely unchanged. Observers also say that rising unemployment has become a pressing Factor which should Lead the Federal government to relax its monetary policy. According to the Dominion Bureau of statistics unemployment in june reached a four year High of 5.5-per-cent of the labor Force. Gold shares were the Only major Section of the Market influenced by foreign news. The heaviest stocks dome and Campbell red Lake declined steadily until 1 . Thursday on the widespread be Lief fast South Africa and rus Sia would shortly depress the free Bullion Market by Selling Gold. However investors were completely taken by Surprise when the South african government announced that it had no Early plans to sell newly mined bid lion and had in fact been secretly testing the free Market by sales in May and june i Gold stocks rebounded Danthi news and closed near Las week s level dome was i to 61 after trading As Low As 57. Campbell red Lalure gained 1 to 31 after touching 27w Bullion the Prospect of russian sales in Exchange for wheat which would be the first since 1966, helped to keep the Price of Gold in Check after toe South african state Merit. A report from a Texas firm o Oil Industry consultants assess ing the major Oil. And Gas Dis Cove by by Atlantic Richfield co and Humble Oil on the Arctic slope of Alaska spurred severe Oil stocks on Canadian . Anc British exchanges. At Toronto Imperial of gained 3 to 70vt after hitting record the company like Humble is a subsidiary of Standard Oil of new Jersey. Ii holds about acres b exploration permits some 400 Miles East of the find. Bow Valley industries of Cal Gary jumped ave to 16% in heavy trading. The firm said Friday it is acquiring Al inter est in an off Shore acreage in the Canadian Arctic about 350 Miles East of the Alaska discovery. Bow Valley already holds a major interest in acres on land in the Mackenzie Delta nearby. On Index at Toronto golds gained 3.35 to 198.70 and base metals .22 to 106.46. Western oils fell 3.33 to 210.78. Volume was shares compared with last week. Gains outran losses 398 to 35. On the Montreal and Cana Dian exchanges the composite Index Rose .1.89 to 164.52. Coin dined volume was shares compared with gains outnumbered losses 182 to 159. . Economy Down inventories suggests omy is entering a canadians with special and clinical training. The number of new Job open Ings in the first half of this year 16 per cent higher than Dur no tile similar period last year lets said although still hardly below the Peak of late 964. The tsp said employers Are ending special difficulty in obtaining experienced Plant and ales managers. Most of the new openings Are for experienced engineers and account ants. Opportunities in the steel lexical and construction in Hough some consulting firms ave begun re hiring Laid off personnel the tsp said. The greatest increases in vacancies Are in. Western Canada Ith increases varying from even to nine per cent in the East. By Jack Lefler new York statistics indicated this week that the . Economy is slowing Down somewhat. This would be in line with predictions of Many economists that during the second half of ibis year the rate of growth will be More subdued. The latest figures cover the Jross National product the operating rate of factories the corporate rate 6 f profits Busi Ness inventories Industrial production and housing starts. The of All goods and in the three months ended june 30 to. A record annual rate of but., its increase was a bit below the Quarter in connection with the Gnu assistant Commerce Secretary William Chartener said a Sharp slowdown in final sales in he second Quarter and a Rise in the econ is entering a period of orderly rhe Federal Reserve Board reported. The factory operating rate in the second Quad. Or to 84.5 per cent of capacity rom 84.9 per cent it the first Quarter. The second Quarter average was off from 87.1 per cent a year earlier. The annual rate of corporate profits after taxes. Dropped in the first q u a r t e r to from in the previous Quarter the Commerce department said. The department attributed the decline to the new retroactive income surtax. Another Commerce depart ment report showed business inventories Rose much More slowly in May than during april while sales posted a Strong gain. The report said the increase in stocks of All businesses in May was Only about half the gain in april Well above the average for the first Quarter., units was off bout 2.5 per cent from May. Automobile production this week fell to an estimated passenger cars Down 11 per cent from last week As the Industry moved further into the changeover period for 1969 models. Steel production slipped 1.1 per cent to tons from tons the previous week. Govt. Bond Issue Well received Toronto up the government of Canada sold new Bonds this week on the Canadian Bond Market. The issues were oversubscribed and traded at a healthy Premium. The government issued can Ada dec. 15, 1969, at 99.80 to yield 6.65 per cent Canada oct. 1, 1970, at 100 to yield 6.75 per cent and Canada 7-per-cent april i 1973, at 100 to yield 7 per cent. Long term government of Canada Bonds were unchanged with 4v4-per-cent sept. 1, 1972v Issue closing at 91 bid and 91v4 asked Short term Bonds were unchanged with the dec. 15, 1969, Issue closing at 100.40 bid and asked. The provincial Market was unchanged with a new Issue of Ontario Hydro 7-per cent aug. 15, 1992, brought to Market at the Issue was Well received. Day to Day Money traded at 5% per cent. Treasury Bills decreased with and the 182-Day Bills closing at 6.17 and 6.09. Durable goods lift Industrial output Ottawa up the Domin combined sales of Man fac on Bureau of statistics import eco exclusion could hit continent hardest Montreal up British businessman lord Watkinson says the exclusion of Britain from the common Market May turn out to be a disaster for Europe rather than for Britain. Lord Watkinson managing director of schweppes -Ltd., Lon Don told a news conference Winters director Montreal up Nathanael v. Davis president of Alcan aluminium has announced the e 1 e c t i o n to the Board of directors of Robert h. Winters president of brazilian Light and Power co. Ltd. And former Federal Trade minister. said or. Winters will fill the vacancy on the Board created by the Resigna Ion of Harold h. Richardson of Montreal who an Hon Orar director after 14 years As a director. Or. Richardson formerly was vice president and chief technical officer of Alcan aluminium Ltd. And for 20 years headed Al can s research subsidiary Alu minium laboratories Ltd. The Board of directors declared a quarterly dividend of 25 cents a share . Funds payable sept. 5, 1968, to share holders of record at the close of business aug. 1968. The company had common shares issued and out standing As of last june 30. A. Quarterly dividend of 43 cents a share in Canadian funds was declared on p r e f e r r e d shared of Par value payable oct. 15, 19.68, to shareholders of record at the close of business sept. 30, 1968. That the exclusion of Britain could be disastrous for Europe because the common Market is not a self sufficient entity and sooner or later it will have to seek closer ties with other coun tries. With Flie. Solid election of president de Gaulle and the appointment of Couve de Murville As prime minister the chances of Britain entering the common Market soon were diminished rather than increased he said. Lord Watkinson said that Dur agricultural Price Index Rose in May Ottawa up the Index of farm prices of agricultural products Rose 2.7 Points in May to 295.0, the Dominion Bureau of statistics reported. Although poultry product prices declined Between the Middle of the Middle of May higher prices were re corded for livestock and potatoes. The Index is based on 1935-39 farm prices equalling 100, and covers All Canada except Newfoundland. Tuners wholesalers and ers advanced by 2 per cent to a record in May after a decline in april to Industrial production climbed in june to a record for the Sec Ond straight month but the gain was much less than in other supporting Factor for fore casts that the Economy will Cool in the second half. The Federal Reserve said the june Index of factory mine and Utility output Rose 0.3 per cent to an annual rate of per cent of the 1957-59 average. The gain in May was 1.6. Per cent. Housing starts fell during june for the second straight month to their lowest level of the year. The Commerce depart ment said the annual. Rate of Tant Index of Industrial production Rose to 158.1 in. May from 156.8 in april with a boost in output of manufactured durable Bureau reported. The Index based on 1961 out put equalling 100, measures about one third of total National output manufacturing the utilities and mining. These Are the Fields most affected by any eco Numic Boom or slump. The Bureau said there was a 2.6-per-cent increase in the month in durable goods production in the manufacturing Field but non durables declined by eight tenths cent. The Bureau said there was a increase in the out put of motor vehicles As the Industry recovered from labor disputes in april. Indians build v Homes St. Brides Alta. Up the indians on the Saddle Ake Reserve 85 Miles Northeast of Edmonton Are solving the housing problem and at the same time training themselves or skilled jobs and self govern ment. A Home fabricating factory using Volunteer labor of Iree members of the Saddle Ake band began producing april 9. And by the end of june lad completed 15 dwellings re i placing what have been de scribed As shacks. I the first House was by 32 four bedrooms in iwo and a full basement i ranch style Walls and rustic Cedar exterior. The fabricating Crew of 2c Vas under the supervision of 3ob Styra of the Federal Indian affairs Branch. Or. Styra guided establishment of the fac Ory after visiting similar but smaller factories on Saskatchewan reserves. We have a real Fine Crew of workers and they re learning lie carpentry Trade very or. Styra said. Eventually they la be Quali led to take Over the entire operation including designing the Lomes. And installing the wiring. I Don t see Why this factory could t turn out 100 Homes a but the main feature of course is the training the indians Are receiving. Chid of background they la be Able to step right into any Simi a Industrial the Only part of the lome building operation the in lians Don t do yet. It is tend red out to private Enterprise. The Saddle Lake factory also vill produce Homes for the mall neighbouring reserves of Joo fish Lake and Beaver Ake. The factory is the first of its Ype in Alberta and plans Are under Way for a second but Arger factory at the cold re serve 150 Miles Northeast of Edmonton near the Alberta Saskatchewan Boundary. Later of Well be going into repairing Homes and the manufacturing of certain components such As doors and or. said. Materials for the Homes Are purchased from private enter prise suppliers. Average total Cost of each Home is amount made available by the Federal Indian affairs Branch to each Indian family wishing to acquire a. Modern Home. The 000 is used to buy raw materials components. The indians Supply the labor. Stocks of Cheddar cheese evaporated whole milk and skim milk powder were higher on May 1 this year than last while those of Creaghe by butter were Down. Downtown restaurant for Sale owner retiring seats 100 Early closing phone 942-1584 Gerry May or. Neil Mawhinney president and general manager of Westport Chrysler Plymouth Ltd., is pleased to announce that or Cerry May has joined their staff. Or. May will be responsible for the control of Fleet lease and truck sales. He brings to his new position Many years of invaluable experience in this or. May would appreciate All his. Many friends and acquaintances to drop in any time and solicit his assistance in solving their pertinent quire ments. Transportation re 3171 Portage ave. 883-2343 ing the last three years while he was chairman of the British committee for Export to ., Trade Between Britain and the . Had increased by some 50 per cent. Trade would further increase Between these two countries As Well As Between Britain and other prosperous countries like Canada and Australia. British people on the whole considered prime minister tru Deau kind of Man who is needed in the mod Ern world in which we lord Wall Dyson came to can Ada to preside Over the establishment of a new company schweppes Powell Ltd., formed by a merger of schweppes Canada Ltd., c. B. Powell Ltd., Powell foods Ltd. And l. Rose and co. Canada Ltd. Empire Sheet Metal Mac. Co. Ltd. 725 Madison St. Specialist in Sheet Metal fabricating business meetings delicious foods Choice location excellent service warm hospitality Marlborough hotel Smith Ellice 942-6411 Albert Stoski Maiorc d Bank of Montreal established 1817 dividend no. 435 notice is hereby Given that a dividend of fourteen cents per share upon the paid up capital Stock of this Bank has been declared for the current Quarter payable on and after tuesday the third Day of september next to shareholders of record at the close of business on the thirty first Day of july 1968. By order of the Board. C. W. Harris vice president and Secretary. Montreal 16th july 1968. Restaurant prime location enclosed mall shopping Centre. Available in the heart of St. James Assiniboia so. It. Financial assistance available to experienced operators. Lakeview development 786-4794 for modern truck Stop with All facilities and Large volume sales Ken i 24 hour service excellent location and Good potential returns. 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Salary commensurate with qualifications and exp Crenco. Fringe benefits three weeks annual recreation leave ten Days statutory holidays accumulative sick leave insurance and pension plan. Forward applications with Complete resume to personnel director was Ana division 23rd Avenue Avenue c Recina Saskatchewan ;