. steel industry produced I record

Page 12 The Guardian

Severe Losses Last Week On

The New York

NIQW YORK (AP)-Last week was I convulsive 0Q for use stock market as prices fell on average to their lowest point since October. 1955.

The Associated Press average of D stocks fell 84.3 to 8165.50.

It was the second straight week that the market had taken se vere losses, but this week.the lrop was sccompanied by the biggest volume since the week ended July 13. That was the week the market climbed to its nth for 137.

,The heavy selling cli ' an estimated 85.330.000.0tl) from the iuoted value of stocks listed on .he New York Stock Exchange. out the approximate value of the listed stocks is I mammoth I212,000.0"0.tXl0 on current quoted value. '

Monday brought the sharpest one-day breall since Oct. 10. i955. which was the third ”blue Mon- day” after President Eisen- hower's heart attack.

SLIGHT RECOVERY

Tuesday brought a more or less anticipated bounce from the Mon- day fall but analysts were disab- pointed that the market was able to recoup less than I third of the, previous day's losses. ,

Friday motors kicked off an-l

Monday. Sept. 30. 1957

Stock Market

other rally on encouraging re- ports from Detroit. This snub red steels. aircraft: and other groups. But the rally was spoiled late in the day by acwsthat Standard Oil (New Jersey) was planning to issue szsosno.oso,ons of new common stock. The shares of the giant oil company, which had been firm. broke Zlla points and carried other oils. chemicals and selected issues down with them. However, the market closed slightly ahead for the day.

Canadian issues on the New York exchange were mostly lower, although Hudson Bay Minlns was up N at am and Distillers-Seagrams added Vt at ZN. Losers included Walkern Godderham. off We at 7th: In- ternational Nickel. down V4 to 79s; Aluminium Ltd. off its at 36 and Grnnhy Mining, V; lower at 6.

Canadian gainers on the Amer- ican exchange included Brazilian Traction. up .. at 0”! and Rich- well Petroleums, 1-16 higher at

17m. Losers included Scurry-Rain- V

bow. 5-I6 lower at 2 ll-lh;

Jupiter Oils, down it to TV and T

Canadian Marconi. is lower at

Steel Output In U.S. ls Setting Record For Year CLEVELAND lAP)eThe US,-

fl'I.600.000 tons of steel for ingots and castings during the first three quarters of this year, Steel Magazine reports. .

The previous high for the first nine months of a year was the as.soo,ooo tons produced in 1955.

Steel says that production for the final thee months of the year will have to average 88 per cent of rated capacity for the 1957 output to equal the record ll'I,W0"N tons produced in 1955.

Output last week ran at 82 per cent of capacity. up one point from the previous week. with a yield of 2.099130 net tons.

The magazine says that 1953 could be a record - producing year for steal it the automobile makers use as much of the metal as expected.

The publlcatl says prices will continue to rise next year to the tune of about three per cent and that national production will increase about the same amount.

The slowed pace in steel buy- lag Inf weak eut scrap prices to the lowest level since mid-May. ltael'I price conposlte on steel- niaklng grades dropped 81.34 'to 040.81 I gross too. The corn- posite a finished steel was un- chewed at 8146.1! a net ton.

MiscoucHE

On Wednesday evening the Mlseooehs nub-division of the .Catholls Womenis League hold their monthly meeting in the tolwent. Mrs. Hamid Perry

9 - . Peter Steele of Miscout-he re- cently left for Charlottetown.

where he will attend St. Dun- stanis University.

Tlic Miscoudie Home and School Association recently held their monthly meeting in the convent auditorium. Jerry Richard presided and plans for the Field Day were completed.

On Tuesday, Justin McNiell of Mist-ouche left for St. Dun-

stans University where he will,

resume his studies. June Gallant. R..N'..

Charlottetown Hospital after having spent the past two vteelts visiting at the home of her par- ents.

On Sunday the annual meet- ing of the Mist-ouche convent Alumnae was held in the con- Gaudet presided. At this meeting prizes were awarded to Elaine Gallant. Patricia Poir- ier and Bella Gaudet for having attained the highest mark in the district in the Maritime Board Examinations.

Patricia Poirier of Miscouche left for Charlottetown on Thurs- day. where she will attend St. Dunstan: University.

Congratulations are extended to the winners of the 4-H Club membe a of M" ouche who re- ceived prizes for their garden products.

Wilfred Gaudet of Miscouohc recently returned to his home in Miscoucho after having suc- cessfully completed I course in naval engineering in connection with Sea Cadet Training. This course was held in lialifnxjv

CAN FIGIIT BOMB

LONDON (Reuters) -- Home secretary R. A. Butler said Sat- imlay night that civil defence could do "I tremendous amount" against a hydrogen bomb 500 times as powerful as the bomb that devastated Nagasaki in 1945. in a recorded broadcast to the British people, Butler appealed for many more recruits to Join

recently , returned to her duties at the l

1:. V, , ......:,.:-M. . t L 1 ' ;

Norway's King Olva V. Welf- lng a general's uniform. arrives at 0slo's Lutheran Cathedral to attend memorial service for his

father. Hankon VII. Walking be- hind him are his son. the new. Crown Prince Herald. and his younger daughter, Princess As-

trid. it was the first time Olav appeared in public as Norway's new ruler (AP Wlrephotel

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that Physical Education was being taught by a- special instructor this year.

It was decided to give prises

next meeting. - Mr. Terrence Gavin and Mrs. Rag. Eldershaw along with the Executive were asked to make arrangements for the Hallows”- en Party. A report of the Swim-

Course was given by Mrs. oseph Conway Illdl Mrs. lzairs Desltoches was named to send reports to the press. Appropriate remarks were made by Rev. Father Gallant. Mr. Terrence Gavin. Mr. Joseph Conway, Mrs. E. C. Perry and Mr. Auhln Gallant. Meeting closed with prayer and The Queen.

Regalette Lodge Met .

The regular mectintt 0f R02- alette Rebekah Lodge No. 93 1- 0.0.F. was held Thursday eve-I ning with Noble Grand Dor- othy Travers presiding. l

in reporting for the Flower Show Committee of which she was co-chalrrnan with Miss Shir- ley McArthur. Miss Margaret Forsyth expressed thanks to membe . of the Lodge who had helped in any way and to ex- hibitors who had helped make the Show so successful. I In commenting on the fact

' that the Flower Show mm out-

grown the Rebekah Hall and that it had been necessary to hold it thin year in the Women's institute Hall. she noted that this had meant the borrowing and transporting of consider- able equipment.

The Committee, she said; is grateful to Zetlsnd Lodge for use of their tables and to Clayton Travers who so kindly moved them; also to Miss Enid McAr-

the 500.000 members of the Civil Defence Corps.

thur. Cedric Hunter. Lloyd Wil-

Weelrs who gathered up and distributed other equipment. flow- ers and plants. I

The committee also express-. ea its thanks to Mayor H. 5. Matthews and Dr. 0.H. Phillips. M,P,, who spoke in the afternoon and to Mr. Earle Jelley who spoke in the evening: to Mr. D.C. Schurman. who judged the Show and to the Dept. of Agriculture for providing his transportation. to the press for publicity given the Show, to Mrs. James Hodg- son who assisted in receiving en- tries. and to the ladies who serv- ed. Mrs. R.M. Dunn. the Misses Lorraine Campbell. Evelyn Car- penler, Bcttv Locke and Stella McNevin. .

On motion of Miss Mabel Field- ing. seconded by Miss Maud Dy- er. I vote of thanks was extended to the Flower Show Committee.

A letter from Miss Ada Web- ster, President of the Rebekah Assembly of the Maritime Prov- lnces. announce” her slogan for this year. "Be Kind." she also stated that she would like Lodges to-have Scrinture reading at each

P.R.A.. and Miss Helen Finley- son were guests at the meeting, and each spoke briefly in con- nection with lndge work. Mrs. Crotltett announced the next Dis- trict meeting will be held in Montague. She made mention of the recent fire in Charlottetown in which Alpha Lodge had sua- talned loss of property that was insufficiently insured and stress- ed the Importance of having prop- erty and regalia sufficiently in- sured. . Mrs. Mclachern mods men- tion of the fact that she had paid an official visit to ltegalatte Lodge thirty-one years ago. She commended on Miss Webster's letter. matting reference to the high ideals and aims which it

stressed. Plans were e for th me - oriai service will ha ha

at the next meeting. Miss Field- lngand MssDyes-wllbsonthe entertsnment committee for this meeting.

t After closing of the lodge Mrs. Crockett gave instruction can- cernlng the flag ceremony.

meeting. Miss Jean Crockett. P.P.R.A..

Dainty refreshments were ser-

BORDEN

Mr. Coledge Bowness of Ken- slngton, was I visitor to Borden on '.'.' dnesdly. Sept. 1!. guest of Mr. and Mrs. George Sharpe. Mrs. John Diegan of Amherst is standing I few days with friends at Carleton.

Bernie Klgglns son of Mr. and Mrs. Wilfred Kfgglns, was admitted to the Charlotte- town Hoapltnl on Wednesday. Sept. 1!. All hope that the little fellow will be better soon.

Mr. and Mrs! William Whlta.

ved by Mrs. Charles Jdnstol

kie, Gordon Hardy and Frank Mrs. Elizabeth McEachern. P. and Mrs. Lloyd Wllkle.

' New Fall

CAR COATS

Wherever you Ilappy-Go-lCueky

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lag.hvIa'ant Idthllld

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toastyvsr--ttaihealb alliaius Kalsadusld roller. dadpeehta. stul cnNl.woodeI tjfadeb

ma welt Cu Coata.

limes-I

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9

less

2.05

Durability jeans of navy denim-double stitched for wear. Tapard

If ltls New - if it's Smart--you'll see it at Holm an's! See the fresh look of Fall everywhere at Holman's Ladies' Wear. Find the newest fashions, the biggest values, greater than aver selen- tions for an exciting new season! Sea thm TODAYI

Denim inns

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Bordenthenhoard

Rememberod By Kinkoro Friends

On Mondly evenlnl. NFL 39'5- a large number of Y0"!!! P009143 and friends aslenibles at the borne of Domeln Slireenan. Kin ltora. to bid farewell to Miss Mary Connlck. daughter of Mr. and Mrs. Walter Connlck. Kin- kora. prior to her departure to enter the sisters of St. Mirth!-

hafottetown. - . --

Mr. G. M. Trainor capably act- ed as chairman and in I few brief sentences told the object of the gathering. He then called tip- on Mr. Ernest Brennan to read I very nicely worded address to May, while Miss Rosemary Mul- ligan presented Mary with a well tilled suns.

In a few well chosen words Mary thanked one and all for their kindness in remembering her on this occasion and assur- ed all that she would remember them in her prayers. she also gave speclll thanks to Mr. Bhreenan for giving his house. she called Damlen's "her second home.".

Complimentary remarks were

from ” f Me- Cabe. Erie Doucette. Kevin Fan mer. Rosemary Mulligan. Isaa- stta Johnston. Gnavleve Duffy.

grandmother. Mrs. Peter A. Mo- Ilalion. .

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Nextlallnnsrtaaeelelho Iaslellackbrel lathawardnhaafths aoasrtwoill "WP -sauiusuacnent-anon.-yo-r-tr 'a.y-unoi-a-'.i.-a-i'w-ur!n-I-IrH- sIIeeiIsn.0as wHan hatrss Iorslts Ir ,.a.uuIns-st-nut has Ilsaeldli walnut. was--uni lwsd no-at. ouunriuhsen arms:-I-u -st-I sass--.1:-at-st.