fia‘I.E5fiiE.§i- 25.65-isgana-P-2

early turnips is taking place and

‘ year when there was practically

OFFSHORE DRILLING

ERIE, PA., -— Standing 30 feet shove Lake Erie water level, this drilling platform began exiplora- tion for gas today in Lake Erie. The project represents the first

.

attempt to find gas odfshore on the American side of Lake Erie. New York State Natural Gas Corp, Pittsburgh, has leased more than 35,000 acres from the

AMONG THE FARMERS

Federation of Agriculture Newsletter

unoprruo OBSERVATIONS

.p1antjng and sowing are in full gwing but a very considerable abueage of ground remains to be seeded. Already some thinning of

this” a marked contrast in a crop which can be sown’ the first of July and produce very satisfac- tory results. So far we have seen no» potatoes above ground but with some planted_ for over a month the time should not be far-distant.

vG-Irass and hay fields are show‘- hig very satisfactory growth and this is indeed a contrast to last

no growth apparent. In many fields the clover will cover the stubble by June 1 1 condition which indicates much better than average prospects. A year ago cold. dry weather pensisted throughout the spring and,contri- buted to the downfall of the hay emu. prospects are altogether different at the moment as May

present situation is that a condi- tion of both inflation a.nd reces- sion ane going hand in hand. It would appear that, at least, in two instances that the economic picture is not conforming to the -rule book. Certainly agriculture ‘which traditionally has been the first to start down and the last to start up will -not grieve if the situation is reversed.

WHO WILL C0>NT‘R.0lL?

A recent article by Carroll P. Strester. ‘Editor of the “Farm Journ " under the title “Who is going to control farming?” has some very interesting and ar- resting observaticfs to make. We believe this article to be of suf- ficient importance that reprints of it have been ordered and will -be available at a later date, in the meantime we are including in this newsletter a few of the more pertinent observations. “Farmers havp f traditionally trudged to market with their tutf, asked the buyer what he’d

has been moist and reasonably

, warm. The stage would appear

» 4i€;i 5*-..%“§;5.-Z

T, ‘Q.- - :1 INVESTMENT GROWTH Jf";;:;, 0 . at “'3 Of th - b t the 1957 estimate W, 1:: ,5 in we most important fac laryszril: :st1§0beu$200’000’000 on the‘ rim,‘ Icons _ ernunmg the level of 11:)“, Side lyflggl mic activity in a country The pIZe_war high in investment any tune is the volume of 111- =.,.as $1513 000,000 in 1929 and the hell‘; l.,,d‘““’“i spending by business llow was $327,000,000 in the dc- tl’ - .g°\'ernment. ‘pression year of 1933. As the 5 Th’ Area“ graph Shows the year-by- country émerged from the F19’ led. 116 e‘’' 0f capital investment lpression investment spending '3,-ellid re anada “Om 1929 to the 0111“ {began td rise until it was inter- ?“ us; -._lll‘;lye1zar.v (rupted by a setback in the late 9 evel f __ ' v d up through tlleaip Med line-is0z1i‘n1¢29s5tzi;meS1L1¢Ewl?as1<:K l%ls1:0s.'e:§?SenOL‘t tnl11gV%eC0I1Cl World 63.534 Tu *1 deral trade department lwaryfalling off slightly as the [.1175 $4 ,garl§§,mtl>f [investment plans by iuvahvpeared its endd b tart 0 Ve usiness, institutions, An unprecedente 00m, 5' - M The llgggents and house-builders. ;ing in 1945 and interruptedhglllli In , Du forecast of $8,500,000,000 by the 1954 recession, brous 19$ tame 8:31 expenditures is the fvestment levels to a peak ln . .

lobe set for heavy June grass

‘ - heavy milk production for‘ at

least, the next six weeks. CONTRADICTIONS _. Historically when the economy toes into recession agriculture is the first to get a shelzlacing. How- ever, although it is generally ad-

nilittecl that -the Canadian econo- my is in a mild tail-spin yet

ll-rlmilture is, at least, no worse of 111 1958 than in the year pre- vious. The day before he died Mr.

W58 as in 1957, there would be Ups and there would be downs in lllfifement sections but the balance would remain about the same.

Ernie Hope predicted that Cana- lwg -d1an_ agriculture would probably 1» be in the same position during

give for it, taken it,. and gone meekly home to raise more.

“Week and single-handed .th y’ have come up against buye 5 who -are relatively few and strong.

“In some places co-ops have ‘tried to help. We’ve seen some of them perform -‘brilliantly, oth- ers have languished, some have died.‘

“Up to now we've been able to coast along in this fashion, but we can’t from hereon. Far- mers are now -faced with a de- cision that won't be put off fo

“How, then, can fa.rmers'con- trol and run their own business? ONE ANSWER.

“Farm Journal believes that thene’s one answer, and only one. They’ve got to band together in-

Another interesting tact of the

1957 forecast issued’

-to powerful groups to do what

Commonwealth of Pémlyslvanla to conductthe “wildlcal” opera- tion. It could mean minions of dollars for the state. (AP? Wire- photo). Q they can never hope to do along. There are several ways to do it. No one of them holds the com- plete answer but each of them has a part of it.‘ These five seem to have special promise. “1. A new kind of selling co-op. “2. Bargaining associations, which bargain for price only with or without handling the product.

“3. Marketing orderls, Federal and state. In these, if a specified majority vote -for the order its terms apply to every producer and every buyer of the product in the area covered. We now have some 70 Federal ord- ers which govern price but not quantity. Another 35 Federal mar-—. keting orders on fruits -and vege- tables specify quality but not rice. In addition there are state marketing orders-California a- lone has nearly 30. They work- best on products confined to one area. ' , “4. Commodity groups that ad- vertise and promote ;-.- such as the American Soybean Associa- tion, American Dairy Association, Oregon Wheat Commission and others. “5. Strong programs ‘of the general farm organizations. “If we try all of these at once we can get somewhere." “Let's take a look at the sell- ing co-ops (here, we are not con- cerned with -co-ops that buy far- mers’ sup-plies, nor with how co-- ops should be taxed.)

"Their future is about cided.

INTEGRATION

" “_'Wi~l~l*tl1ey.be able to. become the ‘integrators’ of agriculture or will ‘they sit'on their bottoms and watch somebody else take over?

-to be de-

ancing that integration requires? Can they do something for their mcmbens that the non-member can’t match? Can they keep from handling heavy surpluses?

“Well, not any kind of I so-ca1l- ed co-op can. But a new kind of co-op has a good chance of do- lug all these things. .

“This will he a co-op that lim- its its unembcrship to those sol- id, solvent operators who are will-

ing to pnoduce a top-quality pro-

(CP News map)

duct; a co-op willing to let other producers go, rather than one in- terested in rolling up the largest

. possilble;member.ship; a co-op in

which you've got to be good to belong.

“Then it will be a co-op which will manage to get a premium

_ price for its q-uality product."

“Had it occurred to you that here, too, is a way in which tar- mer-s can take some first steps toward controlling their own pro- du,-etion of some products? How? If they decide to market only peaches of top quality they will obviously put a limited supply on the market. And if peach co-ops in various areas conferred they

might begin to affect production

national<ly."

“In addition, we’ll need nation- al farm organizations, even more powerful than today. We'll need some forms of government iarm program during the transition years, particularly for the ‘basic’ crops of the central and southern states. Farm Journal does not believe that all government farm programs should be heaved out the window forthwith. But we should be moving away from them as -fast as farmers can find ways to take over.

“What we need is organized selling power-collective bargain- ing for far-mens-—-comrnodity by commodity.

America's laboring men deal for price through powerful un- ions. They don’t “sell as indivi- ‘duals?’

21 INJURED TORONTO (CP-)-Two crowded

intersection Wesdnesadlay nigllut and 21 persons were treated for shock, lacerations and bruises at a nearby hospital but none de- tained. Passengers standing in both cars were knocked to the floor when a westbound Bloor Street car slammed into an east-

bound street car turning into §Bathurst Street in the mid-town "area.

Can- they furnish the farmer-fin--

street cans collided head-on at an»

DAILY MARKET QU OTATIONS

SUMMARY

By THE CANADIAN PRESS Toronto - Market higher in moderate trading.

New York—Ma1'ket higher; se- lected issues rise.

Montreal - Market mixed to higher in brisk trading.

CURRENCIES

MONTREAL (CP) - The‘ U.S. dollar Thursday closed at a dis- count of 3 19-32 per cent in terms of’ Canadian funds, down l-32. Pound sterling $27194, down 3/1;.

TORONTO

TORONTO (CP)-Western oils led the stock market to f‘nmer ground Thursday in the heaviest trading this week.

Western oils, recovering from two days of profit-talking. sent their index ahead‘ over one point. Golds -and base metals were ollf. Final volume was 3,054,000 shares. compared with 2,207,000 Wednesday.

Western oils were led by sen- ions. Moving ahead were Bailey Selburn, Calgary and Edmonton, Central Del Rio, Dome Explora- tions and Hludlson’-s Bay. Pacific Pete and Roy eased.

Golds, alheadmovst of the day slipped back in the final hour. Dipping in a 15-cent range were Bpalorne, Campbell Red Lake, Giant Yellowknife and Macassa. Donne, I-Iollineagr and Kerr—Addi- son moved ahead fractions. Senior base metals eassed with Steep Rock. -sliding 1.4 point at 1074 pulling the index lower. Other losers, in -a smaller range, were Quemont, Nxoranda and Wait Amulet, Ealconbridge was a 1 point winner at 26.

Index changes: golds off .12 to 85.05; base metals off .45 to 152.52; western oils up 1.05 to 135.15. .

mnom-o CLOSING srocxs

By The Canadian Press

Toronto Stock Exchange-May 29 -(Quotatims in cents unless marked 8.

z-Odd lot, xd—Ex-dividend. xr—Ex- rights, xw-Ex-warrants.) Net Stock sales High Low Close Ch’ge . MINES Acad U‘ran 2500 7 7 7 Advocate 3300 375 350 365 +5 Agnico 3228 66 55 ‘ 55 -3 Akaitcho 1000 59 59 59 +2 Alba Expl 10500 5 4% 5 om 2208 518% 1775 17% - 94 A1801!) Wt: 6100 735 675 680 -55 Ann! Rare 2500 29 29 29 -1 Anacon 555 60 50 50 -4 Anglo Hut 370 13 123/4 13 -—= 4/4 Ansll 1000 20 29, .20 Arcadia 6500 16 15 ' 16 +194 Area 29900 105 95 102 -10 Arjon 4 ,13l00 17% 16% 16% '-% Allin-Ruf 17500 20 19 19 Aumaque 5500 9% 9 9 - lb Aunor 700 250 250 250 Avilla 500 5% 5% 5% Bankfield 500 9% 9% 9% Barnat 5100 35 34 34 -1 Barvue 2500 14 12 14 + 1% Bary Expl 1000 75 75 75 _ Base Metal 30700 23 19 23 +5 B-Duq 6050 22 21 22 + % Beaucau 12700 61 50 50 -15 Belcher 1000 100 100 100 Belleterro 800 230 230 230 -10 Bothlm .5170 I) 77 80 Bevcon 1014 13 13 13 Bicroft - 4400 105 104 104 -1 Blcroft win 500 34 34 3-4 Bonville 1000 7 6 6 + % Bordulac 1500 8 8 8 “ scad 7000 9% 9 9% + % Bouzan 7500 45 44 -15 +4 Boymar 8000 8 7% 8 Bralorne. - 300 645 630 C30 -10 Brunsman 600 6 6 6 Brunswick 100 275 275 275 + 10 Buff An}: 1000 90 90 90 -3 Buff RL 9000 8 7 7‘ -1 Camp Club 3500 535 625 650 +5 Camp ILL 600 060 850 850 -15 Cdn Astoria 4033 8 7 0 +2 C Dyna 850 66 86 86 -6 C Malart 1200 34 84 34 Cdn Thor 3000 7 6% 6% - IA Candore 3034 22 21‘ 21 Can-Erin 13000 19 17% 19 +1 Can-Met 11863 153 145 145 -7 C-Met wt: 11% 69 68 69 +1 Captain 9000 19 18% 19 Cariboo 2000 83 78 80 Cassie: 1050 785 765 785 + 35 Castle 100 330 330 330 -10 Cent Pat 500 101 101 101 Cent Pore 2000 8% 8% 8% Chib Jae 41250 64 52 60 +6 Chib -M 5900 68 65 67 +1 Coch Will 2700 283 276 200 -3 Coin Lake 500 17 17 17 + 7/2 Coldstrm 111100 at 26% 28 + 2 Coloma 2000 “7 7 7 C Bellekeno 2500 13 12% 13 + % C Callindn 7500 13 13 13 +1 Con C Cad 10000 6 6- ‘Y 6 Dension 4045 S153/4 15% 153/4 Den M8 4965 575 575 675 6 Discovery 1350 310 305 305 ’-5 CG Arrow 11500 30 32 33 -1 C Ilnlliwell 278000 34 31 31 -1% Con Howey 1770 231 ‘210 231 +21 C Marben 8000 28 28 28 _ C Marcus 4000 63 63 63 -1 Con M and S 540 S181/4 173/4 179/4 - Ms C Mogul 2540 145 134 140 C Morrison 1000 20 20 20 + V; C Masher 500 57 57 57 -3 Con Negux 9000 32’ 30 32 + % C Northland 11100 35 35 35 -2 C Red Pop 13000 11 8% 10 -2 C Regcourt’ 9500 13% 13 13 - % C Sanorm 16500 9 8 8% - % Con Sud \ 5600 N73 68 73 +5 Content! 6000 145 141 145 + 5 Coulee 3700 65 64 ’ 64 -2 Cournor 1000 7 7 7 -— 94 Crowpat 1000 8% 8% 0% Cusco 9600 23 211/; 32 Dome 625 815% 153/4. 153/4 + % Donald: 2200 13 12 13 + 3% Duvan 16500 15 11% 14% +2% E Amphl 4500 7% 7 71,4 .. 1,4 Eat Mal , 2500 168 166 - 168 +3 East Sun 3500 152 145 152 +4 East Min 2000 39 37 Elder 16400 89 85]‘ 80 +1 El Sol 3300 11 11’ 11 Eureka 6400 23 22 22 — M Expl AI! N00 -17 15 17 Falcon 2250 $26 243/4 26 +1 Faraday 7300 144 138 140 +5 Fara wts 15.20 54 63 54 +6 F’west Tung 1000 '10 10 19 Fed Kirk . 500 7 7 7 +1 Francoeur 10500 9% 8 8% +1% Frobisher 5750 210 202 210 + 3 Gaitwin 4500 9 8% 8% -— '92 Galkeno 3000 79 79 79 +1 Geco Mines 3635 14% 137/; 14% + % Giant YK 1733 60 640 055 -5 Glenn Uran 900 10 10 10 -2 Goldcrest 24900 15 13% 14 -1% Gold, Eagle 12000 10 9% 1.) + % Gold Man 3000 28 26% 26% -— % Grandroy 9500 29 28 29 +1 Grandue 3250 122 1-16 121 -2 Greyhk 11900 19 18 18 -1 Gulch 8100 17% 17 17 Gulf Lead 1500 7% 7 7% + ‘.5 Gunner 5082 618% 13% 18% + 1/6 Gunnar wts 4660 -785 755 785 _+l5 Ealmon 22320 99 9: 97 -3 10

Hard Rock 3500 9% + %

Hal‘-Min 17000 13% 12 12% -I H of Lakes 1000 8 8 3 + ‘/6 Headway 9800 67 64 64 -2 Heath $8000 9 7 8% +1 Hollinger 1130 $22-'5/4 22 22% + % Hoyle 500 430 420 420 —15 Hugh-Pam 2000 20 18% 20 1nd Lake 1000 6% 6% 6% - IA Inspiration 3000 42 40 40 -5 Int Nickel ‘.1416 $73% 72% 73% + “/4 Int Ran 71700 26 24% 25 --1 Irish Cop 7400 140 126 130 +5 J Waite 1500 13% 13% 13% Jacobus 5500 132 128 130 Jaye Exp] 5100 79 77 _ 79 -I Jeanette 7000 10 9 9 Jellicoe 12500 14 , 13 13 -1 Joburke 1700 12% 12 12 Joliet 3000 26 24 24 -—-I Jonsmith 2000 11 10 10 Jowsey 1600 49% 48 48 -2 Kerr Add 1395 S19 183/3 19 + V4 Labrador 1175 516% 16% 16% + ‘/6 Lake Cin 300 115 115 115 +5 L 0511 2000 27 27 27 L Shore 725 505 505 505 Leitch 11300 147 143 1146 -I Lencourt 4000 8% 7% 7% --1 Lexindin 1000 5 4% 5 + 3/2 LL Lac 1700 215 210 210 +1 Lomega 500 5 5 5 + 50 Lorado 1500 53 52 53 -I Lyndhst 7000 14% 13 14% Lynx .3000 10 10 10 Macassa 525 300 300 300 -10 Macdon 1000 27 26 26 -I MacLeod 7300 108 106 106 -4 Madsen 4275 256 251 253 -I Magnet 500 4% ~ 4% 4% - '6 Malartic 4300 105 97 97 -6 Maralgo 74575 62 57 S9 Martime 63300 55 46% 55 -9% Martin 37700 27 E’/3 24 -3 Matatch 27800 25 23 25 +2 Maybrun 1000 12 12 12 McIntyre 25 $61 81 81 McKen 500 20 ‘I0 20 Merrill - 3500 79 75,. 77 Meta Uran 1300 ll) \0 10 Midrim 4940 106 102 105 Millikan 15930 271 250 265 -3 Min Corp 479 511% 11% 11% + 65 Min End 15000 7 6%. 6% ‘ Min-Ore 3000 13 ’ 13 l3 Moneta 500 70 70 70 -1 Mt Wright 28250 70 63 67 +3 Multi-M 2600 57 l 56 56 --I. Name Cr 2500 21 21 31 Nat Exp! 17000 22 20 21 +1 Nealon 1000 5% 5% 6% — ‘A New Alger 2000 6 -' 8 8 -1 New Ath 3000 30 30 30 +1 New Bid 500 6 6 6 New Cal 5600 24 23% 24 +1 New Delhi 6800 49% 49 491/: + % N Dicken 1125 245 .344 245 -2 N Fortune 5000 12 11% 12 -I N Goldvue 7000 6 5% 5% N Harri 7000 13 13 13 New Jason 3000 9% 9 9% +1% N Kelore 500 7 7 7 Newlund 1550 14 13% 13% -1- lb N Man 2000 22 21 21 -3 N Minda 2000 9% 9 _ 9% + ‘:6 N Mylama 10500 17 16 17 +1 Newnor 2000 6 6 6 -— % N Senator 2000 5 5 3 -1 Nick Rim 8500 65 65 85 +3 Nipissing 2400 173 168 173 +8 Nisto 2000 6 6 6 + % Nuranda 1750 $411/4. 40% 40% — % Norgold 3500 8% 7% 7% -1 Norlartic 2000 12 , 12 12 Normetal 1306 248 242 248 +8 Norpax 55450 25 20 2.4% +54% Norsyne 2200 9% 9 9% -1- 56 N Rank 17100 43 40% 43 +3 Northsp 2320 325 315 M0 +5 Norsp A wts 1600 220 215 215 -"1 .l'ort.h Can 500 105 105 105 -2 Norvalie 2500 14 14 14 Nudul: 1700 17 16 . 16 -1% O’Brien 2240 58 56 56 -2 Ogama 2500 6% 6% 6%, + bi Oka Rare 1000 13 » 13 13 - 95 O’Leary 1000 15 15 15 -1 Opem 3625 E15 310 I10 -5 Osisko 605 32% 32 32% +3 Pamour 2500 56 56 58 +1 Parbec 500 4% 4% 4% —- IA Pasrdee 1800 56 56 66 --2 Pater 2500 45 43 45 -5 Patron 4600 25% 2572 25% Pioner 300 156 _153 156 -1 Pick Crow 200 111 111 111 Pitch-Ore 112000 9 6 01/2 +116 Placer 150 980 980 900 -20 Preston 2650 700 680 700 +15 Pronto 3700 505 495 495 -5 Pronto W‘f.s 24940 30 251/; 25% -4% Pros Air 2400 110 102 103 -2 Purdex 79400 114% 10 11. -2% Que Chlb 14100 48 43 5 --2 Que Cop . 7550 29 27 23 +2 Que Lith 500 480 480 480 --5 Q Metal 1600 104 100 104 +4 Qunston 1000 16 16 16 - IA Quemont ' 200 890 885 385 -5 Radiore 1900 43 43 4-3 Rainville 733 25 25 25 +4 Rayrcok 2600 83 82 82 -1 Renabie 300 165 165 165 -6- 1 Rexspar 12700 66 62 62 -5 Roche 4500 16 15% 16 +1 Rockwln 5000 35 34 84 -1 St Michael 2000 10 10 10 San Ant ' 1741 63 61 63 -2 Sand Riv -4000 12% 12 .12% + % Sherritt 2375 _430 420 425 . Sil Miller 5000 72 70 70 +1 Siscoe 3600 61 60 61 -1 ‘ Stclcona 22.83 19 19 19 - % Stanleigh 3860 150 147 150 Stanlgh wts 2520 76 73 73 +1 Stanrck 1615 246 245 246 +1 Starratt 40500 10 8 0% + '6 Steeloy 500 11 11 11 — % Steep R 4725 $10% 10 101/4 - ‘/2 Sturgeon 1000 13 13 13 + Sud Cont 1000 6 6 5 + % Sullivan 3000 176 170 175 Sunburst 1600 14 14 14 -1% Sylvanite I200 114 _111 I11 Taurcanis ‘ 9005 90 85 85 -6 Taurcan vi: 4500 82 73 78 -3 Teck-H 3500 165 162 165 Thom L 0330 00 75 75 +1 Tiara B500 6 6 6 Trans Res 500 16% 16% 16% Trio Chib 500 19 19 19 -2 U1’;-Shaw 4700 33 32 33 U Mining 3500 20 20 20 + ‘rfi U Asbestos 750 605 615 650 -5 Upp Can 1500 66 66 60 -2 _Vandoo 1500 8 7 6 + 3% Ventures 442 325% 25% 25% + 1/a Violam 4 ‘500 121 121 121 + 8 Waite Am 2975‘ 535 as 555 -35 Willruy 1100 75 75 75 + 5 Wiltsey 14000 14% 14 14 Winch 1000 6% 61/: 6% + 1/5 W: Hat‘: 2635 144 140 144 +9 Yk Bear 3162 110 106 108 +2 Zenmao 331750 49 13 47 +6 Curb , Gaspe Cap 100 626 26 26 +1 Pato 325 350 225 350 +35 ‘ OILS Acme Gas 63100 27 25% 26 , Ajax 1000 54 52 52 -3 AP Cons 1500 39% 39% 39% —- % All" Rox 4000 41 40 41 +1 Am Leduc 600 18 18 18 Anchor 12000 22 19% 20 Asamera 100 180 160 100 Bailey SA 330 950 950 950 +20 Bailey S pr zl0 624 24 24 Bail S 59/fipr 170 922% 22% 22% + 1/; Barbff 7200 224 210 222 +19 Bata 500 7 7 7 + '15 Britalta S034 185 100 185 Calalta 30550 67 62 65 +4 Cal Ed 300 525% 25 25 + 1,5 C Oil Lds 3100 225 210 210 -10 C Oil L wts 1700 90 85 as CS 011 wt: 1200 76 75 75 CS Pete 516 380 380 ‘.380 C Chieftn 3600 105 103 103 -2 Cdn Dev 11505 620 530 815 +35 C Homestd 2491 190 180 190 +5 C Husky 861 314% 14 14 - % C Husky wts 440 825 810 610 C Prospect 1750 183 182 180 +6 Cdn W0 225 820% 20 20 Cent Del 25905 850 785 845 +60 Charter Oil 300 170 170 170 -3 C Mic Mac ' 550 285 290 280 -4 Con Peak 3300 7 I7 7 + % C West Pete 1500 675 650 670 Cree Oil 200 400 4-00 400 Cree wts 180 195 195 195 -4 Dev-Pal 1500 150 146 146 Dome Exp! 275 10% 10% 10% -4- lb Fargo 1293 650 ' 650 650 -I5 Gen Pet A 100 320 320 320 +10 Gr Plains 425 518% 18%‘ 1-0% Home Oil A 1473 $19 18% 19