Advertise Odds And Ends Here Secure Extra Christmas Spending Money

the Guardian, Charlottetown, Mon. Dec. 23, 1963. 21

Coyne's New Bank First

1!! KEN SMITH Canadian Press Staff Writer James E. Coyne, the man

who got out of the banking busi- ness after a run-in with one government, is after another government for permission to get back in.

Mr. Coyne, who resigned as governor of the Bank of Can- ada after a spectacular policy battle with the Diefenbaker government is one of the prime movers in seeking a charter from the Pearson government for a new institution to be known as the Bank of Western Canada.

If ‘Parliament grants 1 charter—and little difficulty is expected—it will become the first new Canadian owned

~chartered bank In more than

haif a century.

No opposition Is anticipated from other chartered banks. raising the possibility that the new institution could open the. doors of its first offices next summer.

Three financial men are the other leaders with Mr. Coyne in the venture. They are Sinclair Stevens. president of York Trust and Savings Corporation and Wellington Financial Corpora- tion Limited; Philip MacDonald. managing d i 1' er 1 o r of ork Trust; and Rex Nesbitt of Win- nipeg. president of the financial firm of Crab and Company.

Mr. Coyne Is chairman of the board of York Trust.

SEEK .SMALL DEPOSITORS

Mr. Coyne said the new bank wouid make its pitch for t small depositors. with no spec- ial bid to win the accounts of large corporations

“We think we can compete ef- fectively with the bigger banks on the deposit side. and While we won‘t always be able to compete on the lendin! side in certain cases there are enough

C—oy't Concerned

be

other opportunities for profit- .able loans and investments. I Authorized capita‘. of the new ibank would be $10,000,000 made Iqu of 1.000.000 shares of :10 par :value. About 33.000000 worth Iwould be issued at first. . 3 . Coyne said the Toronto .backers would “provide organ- Iizing facilities and experience in Ithe operation of deposit-receiv- ‘and n the financial field gen- erally." but it is intended that ,Western Canadians "will have ,the opportunity to acquire a Imajority of shares and provide a majority of the directors." FOUR JOIN

in another banking develop- ment. Toronto~Domlnion Bank announced it has gone in with three 0 t h e r Commonwealth .banks to form a new institution jfov international financing. j Toronto-Dominion will own 26 per cent 1 the new organiza- tion. known as the Midland and International B a n k s Limited Other banks involved are the Midland Bank Limited of Lon- don. with a 45-per-cent Interest: the Standard Bank Limited ot Britain. 19 per cent: and the Commercial Bank of Australia Limited. 10 per cent

To be set up with an author- ized capital of about 560000.000. lntcrnationa‘. Banks will aim at providing medium and long-

lnexpensive Wont Ads Sell Everything Fost . . . A

1 ’ln MOre Than Halt-Century;

:will drop this week because oti

.range financing for exports as well as financing for new ext-sting projects.

The four banks combined

have almost 5,000 branches in‘

Canada. Britain. Africa. Itralia and New Zealand. ’ 'I‘wo multi-million dollar cor- Iporaiions may be heading into a stock siruggie.

IREFUSE OFFER

1 Power Corporation announced I'l‘hur'sday it has offered to buy ’ per cent of the outs tshares of McIntyre Porcupine Mines Ltd. a total of $7.000.- 1000 on the basis of the $57-a- {share offer. McIntyre rejected the bid.

McIntyre has assets totalling $126,000.000 while Power Cor- poration has $121,000,000 in as- sets.

w. B. Dix. McIntyre's vice- president and treasurer. said Ithe 'Power offer was “not at all attractive." and he expressed ‘doubts that Power would get its Qminimum of 600,000 shares de- Iposited before the offer expires Jan. 20. 1 .

M. F. Strong. Power's execu- tive vice-president. replied that

Aus-

I

Ithe offer was a fair one but Iadded: “There is no battle in] éthe. offing." ’

I If McIntyre shareholders do

Inoi think the offer isfair.they? Ican keep their stock. he said.

New York Stocks Push To Record High Mark

NEW YORK iAPI—The stock market pushed to historic new highs early last;ka rbutfthe

At Lack Of Action

By DON MacLEOD

Voicing the concern of gov- ernment officials over the at- titude of the federal government. Agriculture Minister Andrew B. MacRae said Saturday "the whole situation as far as our resources development program fits into the agriculture r - habilitation and development program agreement. has not

Q

been clarified."

Mr. MacRar. talks in Ottawa. Indicated that a number of rural development projects which ask for federal financial assistance have been submitted to Ottawa during the

. past few months. but there has

bee" little indication from that

quarter regarding approval. "It seems that projects invol-

ving the alternate use of

and conservation mess u r e s .

such as construction of dams.

have no trouble in getting ap-

proval. Apart from projects of this type. the ARDA program doesn‘t seem to be making pro- gress in any province. It may be that the present federal

toward ARDA than the p re- vious government." STOCKYARD PROJECT

While in Ottawa. Mr. MacvRae presented a project to ARDA of- ficials which involves $30000 in federal money. e m o n e y would be the federal share of

the cost of establishing a stock- yard in the Charlottetown area. government is

The provincia'.

who attended I

gov- ‘ . ernment has a different attitude

prepared to put up betwe en 515.000 and $20000 for the p r o- ject and a n o t h e r 1515.000 to 3520.000 would come from the ‘P.E.I. Beef Producers Assoc- iaiion. ‘ “The stockyard proposal." said Mr. MacRae. “is in the hands of the federal govern- ment. What will come -of it don‘ know. Final approval. however. must come from ‘ treasury board."

Another provincial proposal. submitted some time ago. called

for federal assistance In mod-I

ernizing a co—operative fisheries plant at Rustico. "There been no word on this." said Mr. IMacRae. "but there has been iplenty of time for a ‘yes' or 'no' from federal authorities."

This project would also be as- sisted by the provincial govern‘

ment if federal approval is given.

‘VERY CONCERNED'

Premir‘r Walter Shaw said

eral government as far as rural development projects are con- cerned. “We are goin to plore this whole problem." said. “as it is exceedingly im- portant to us.

“We are going to insist that .Ihe federal government come to ‘grips with this thing. We want ‘io know if the program will con- Iiinue as it was set up. If the Ianswer is ‘no' we were led :astray. If it is ‘yes‘ then that is .in keeping with what we were ‘led to understand."

ex- ‘ he

I I

as I 5.730

his morning he is very concern- . ‘ed over the attitude of the fed- .-

the happiest of holidays.

WALDRON DINGWELL

Canadian Oil Distributor . poems I

rise was labored and it foun-

der-ed on some tong-term profit a taking. I

The trend was confused most of the time by typical Decem- ber cross currents which in- volved' tab—loss selling and ruin- vestment as well as the realiz-

Landing .

Steel Output Will Be Cut

I

By Holiday

CLEVELAND (Apt—Steel 01'-1 ders. shipments and production

the Christmas holiday. but a raw

or ;bound is expected after the first I

of the year. Steel magazine‘ says. From all Indications. the

weekly metalworking publica- tion said. steel demand witl be at least as good in the first quarter as it has been in the last three months.

“The market will probaly be .

stronger than it was in the early part of 1963." Steel said. "i won’t get the artificial boost

l I

ing of gains on many stocks "which enjoyed big advances in 1963

Although the popular market'

indicators ended the week with small gains. considerably mor stocks declined than advanced. Of the 1.502 issues traded. 824 fell and 500 rose.

Thanks to selective gains by jblue chips. however. the ow Jones industrial average made .a net gain of 1.91 at 762.08. On ‘Wednesday this average posted Iits latest historic closing high. 767.21. I The Associated Press average ‘of 60 stocks retrieved a small ‘nei rise. of .7 at. 285.1. This aver- age posted its historic closing yhigh of1286.8. also on Wednes-

y.

Volume rose last week to 24.- 63. shares from 21.884.94.11 Ithe week before and was the .largest for any week since that ended Nov. 23. was 26.862.771 shares.

Although there we s little group leadership this week. to- ibaccos had a rally due to pre- dictions that the government wil’. not rushto .paSS remedial will not rush to pass remedial

“‘3‘ -_ -' I 11:; '

p

'18 Great George Street

legislation when the U.S. public health report on smoking is is-‘ sued. The auto stocks advanced on predictions that 1964 would be another 7.000.000-car sales year. Genera“. Motors. however. was depressed later by news that Du Pont plans to make a second- ary offering of 4.150.000 of its GM shares. GM lost V. on the week. ‘ Excitement was added by the; start of trading in when-issuedI stocks of Xerox and Chrysler.' based on their stock splits. I Most-active

issues this week

[on the New York Stock EX>I Ichan ' I

ge: Sperry Rand. up 17/; at 21%I n 854.900 shares: Chrysler. um

at 891/2: Xerox (when-is? i. 80% {no comparison1:I Chrysler (when-issued). 44 Thine. comparison); and US. Steel. up.I it at 52%. ‘

or... q. :m‘

when turnover 1

.E.

7 Summer Si.

:7" '17?" ,1 9 1

GHIMSTMHS " (Susanne

We welcome the glad Christmas season and all the heartfelt joys it brings.

We welcome. too. the opportunity to pause in the midst of our daily occupations to recall anew how fortunate We are to have the customers. To all of you, we offer «Ir real appreciation and our best wishes for your holiday enjoyment. ,

STANLEY MOL REAL ESTATE LTD.

Member of CA8” and PIJ. lee] little Irolrc Auoc.

favors

‘ motive industry will be the sec-

of steel in the record 1955 year.

himself, we're full of good

for a holiday season that will long be remembered for its good cheer and happiness.

ELLIS sou

from strike hedging it got then. but it will a ..

Because of brisk orders from

automakers. appliance fir m s v and other producers of con- j. Decembcr '- bookings are on a par with last 5 month's or slightly ahead. Ship- i’ ‘ ments for December may equal :

sumer durables.

or exceed those of Novembcr.

Despite hol Id 3 y cutbacks. said production will be about 8.900.000 ingot tons in De-

U: a. (I m ._

ccmber. compared with 8,500.-

000 tons in November. PREDICTS DRP Production this week is ex- pected be less than the 2.037.000 tons that Steel esti- mates the industry poured a

week a o. Oniy light trading is expected In the scrap market over the holidays. Steel’s price compos- ite on prime grade. No. 1 heavy melting scrap held at $27 a gross ion for the second week. Steel shipments to the auto-

ond highest in history this ycai‘, the magazine predicts.

“U.S. mills will ship about 16.900.000 product ions to mak- ers of autos, trucks. buses and automotive part5»- customers who will account for 22.2 per cent of steel shipments to all markets." the publication

and. Suppliers took 18.700000 tons

HEAVY DEMAND LONDON (CPI—British manu- facturers of musical instruments cannot keeppace with the de- mand for guitars sparked by pnp' groups like the Beatles of Liver- pool. One firm ordered 1.000‘

from a Dutch factory and laid‘ on special flights for Christmas delivery.

Like jolly old Santa

wishes for one and all

Sum merside

have a broader 5'

iraiters, ‘

a w.......

:3 Novelty fig

3? Gifts fl CHRISTMAS

I GIFT CENTER

i Souvenirs

Tropical Fish

Housewares

Home furnishings etc.

WESTINGHOUSE HAND MIXERS Beats. Blonds. Whips

with ease.

Available in various colors. Reg. $22.50

| $l9.95 . GIFTARAMA

166 Prince Street Phone 4-6228

Gifts ‘5‘ for Her

The Pertect

For "l-IiER” This Christmas DRESSES and PARTY DRESSES $I5.9-5 - $29.95

Newest styles in lingerie

- 0 House Coats . Nighties

. . Pyjamas . Slips

l . Panties, etc.

i Plain and Bulky Knit

SWEATERS $4.95 - $11.95

, SPECIAL

I CHRISTMAS PRICES KENNEDY'S

LADIES' WEAR DIAL 4-8925

n“i“iw

I *7. 166 Queen St. I W SPECIALS

AUTOMATIC FRY FANS wore Milli) NOW $14.88 Electric Blankets Single Control were $24.88 NOW $19.38 BOEHNERS JEWELLERS

Montague Phone 838-4415

and friendship of our valued

amnnmsanne ipxmaanMfifiiiia.amtiaaaiiaaialliMiiite'fletflill!«it!Ric‘selzledmutwié‘xfilifls'flenui L

Charlottetown

Religious ills Bible, and Hymn Books. Mottoes. Plaques and

Prayer

Greeting Cards

The Bible House

170 Kent Street

Opposite Eaton's

A GIFT T’HATM LASTS ALL YEAR ~ A

jolly good way to remember those who

. .v this Christmas. .Share the great Island momc‘nts of

1964 with a year subscription to The Guardian or The Evening Patriot. Just before Christ- mas a ‘gift card will be mailed to each of your gift

recipients. hand signed you direct.

IT

'Phoning. writing or visiting the Circulation Dept.

sk For An Ad Toker!

Special Giiis

CHECK THE VALUES HERE! THEY WILL HELP YOU SOLVE YOUR GIFT SHOPPING PROBLEMS “DON’T DELAY - SHOP TODAY’I

Gifts 1‘ for Girls

Gifts For Everyone

YOUR SHOPPING CENTRE For Every TOT or TEEN

ON YOUR CHRISTMAS LIST

IS Holmes & Bradley

Misses' and Girls' Wear 159 Queen St. Dial +3414

Toys

TOYS

and ELECTRICAL APPLIANCES

For Christmas Check our list for ideal-— Christmas Gifts Radios. Razors. Timex Watches. Hair Dryers and hundreds of other gift items.

SPECIALLY PRICED trade Boots and Skates

FIRESTONE HOME & AUTO CO. LTD.

187 Great C eorge st. Phone 4-5547

Gills for Dad

We

SOGGY’S TOY & GIFT SHOP

0 Toys 0 Applialu'vi O Decorations. etc. 10’. Off All Merchandise VAR CHRISTMAS TREES 1 AL]. SIZES | SELI‘X'T YOI'RS TODAY! .

IT—TI

WEYMOL‘TII S’I‘. NEAR CNR STN. PHONE 4-5393

Gifts For The Home

CHRISTMAS GIFTS

of WARMTH and BEAUTY ISLAND MADE BLANKETS Beautifully Citi- Packaged “Prepared and shipped anywhere in Canada"

0 Genuine 100% wool satin bound or whipped end blankets in pastel shades.

I 0 Auto robes in a variety of tartans at prices i to please every shopper. I

A small deposit will hold any blanket Till Christmas

w. M. CONDON a SONS

65 Queen Street Phone 4-8712

DOES DAD NEED NEW SNOW TIRES

We suggest you contact

CLARK TIRE 8: SUPPLY

670 x 15 -— 4 Ply Nylon Snow TIres $ |7.95 750 x 14 -- 4 Ply Nylon Snow Tires $ I9.95 Recap Snow Tires 750 x 14 (with trade)

$25.00 pair CLARK TIRE — & SUPPLY LTD.

152 Kent Street Phone 4-3574

Til—{ASH Bums- AND FILMS For those extra special Christmas Pictures GIGGEY’S PHARMACY 163 Kent Street Phone 4-317—07"

Business

GIFTS

TYPEWRITERS FOR CHRISTMAS THE ROYAL EMPRESS"

Featuring :— . Line Meter . Touch Control . Twinrl’ak Ribbon . Magic Margin Get the Facts from your Repiesentative R. C. KEFVAN Business Ma. .Iines Sales 8: Service .m Fitzroy St..— Phone 44152:

:II‘T GUIDE TODAY FOR INFORMATION CALL 4-8506

via re

A CHRISTMAS GIFT

GIFTS FOR THE HOME SIMPSONS - SEARS

OPEN EVERY NIGHT TILL 9 P.M.

57.77

I KENMORE . | l PORTABLE I TransISTor Hostess

I Sewin I Radios I ChaIrs I .9 SAVE 8.07 Agamm

I MaCl‘me I REG. 32.95 I NYLONS I

' l I

I 2438

_ 13.98..

_VISIT OUR TOY TOWN

208 Prince St. Phone 2-1251

Giil Cerliiicaies

W‘— 7’ 7—_“77 CHRISTMAS GIFT CERTIFICATE

WORTH so “mar: snows" IN 1964 CAPITOL THEATRE

Each time you aticnd a \Im‘ic thwL-cn Nov H- -Der-, 20th you have a rhancc In u-n this Lucky $25.00 Gift Certificate Simply clip this Entry Blank, fill in your Name. Address 1 and Phone Numbcr and place in Ballot Box at l‘hcatre.

Drawing \\iIl Inlw IllHI'f‘ Ill latter part of horomlwr

('oming Today PHAED RA

A :I‘Imuii: low stori- tbri D‘fl'}r‘"‘ has been u-artui: tn

For the student away at College

For those in the Armed Forces

AT SPECIAL RATES — - -

A gift Slrhst‘riplinn tn—Tlic Guardian— will he like rpccivinz a letter from home cvcry dm

Just before Chi-Mums a (Gift Card uill be mmled to each of your gift rrt-Invcnts hand signed as you perv-daily direct.

Student Rate rlllllliildf‘ PEI onlyI —9 months 750 Armed Forces Ratr=~toiitside P El. only—l rear—9.00 Just Write or Phone-~1'be Guardian Circulation Dept. ‘ DIAL 4-8306

Stirring .\Il~‘.l.l,\‘l1\r .\l.'~‘.R“'il'Rl ANTHONY PERKINS Gifts OI Music GIVE A GIFT OF MUSIC THIS CHRISTMAS For Every TceII-Agcr on your (‘Iii‘istmas List WF. CARRY—-

IC-hristmas Socciall

I As I . ' - ‘ | "Your Musical SEW” I Low 1 9 8 Headquarters ' l

. All Popular Recordings Clo-«Ia, \i‘vsirrn, (‘hriumas Records. etc.

Miller Bros. Ltd.

‘9 _ Phone 4-3535