3.1!-glghem sfogl -Monday, Feb. 4. 1957 The Guardian P110 5... I

Declares Dividend to stockholders of record Feb. is, old uocii. for the final qua: ' isequivaleattotzllontheold lQ0.'l'lIiscompar9IIli.II& stock. wtiichpaldS2.50iast.lanu- viousquanerlaearalngsraeird

Brazilian Government Has Proved Stable And Effective

I.

Canadian Insurance Firms

J

o . . NEW vonx (AP; - sent. mm” .51 Inn 'y . . - . St I C . d 'l ed Il')'- . . U I 7 Are Nalionalized In India "I -.2 .: me mm. mm --- - u- an an M - - RIO de JANEIRO (AP)-Jusce-y and awtgy mm g::u';'ir dc its new common stock created in steel producer in the world, re- Bethlehem earnings d lino Kubltachelt has fooled the ., d I ef;m;'”'”bau ,0," ;; em . 4-for-I split of the old stock. ported record net-income of tst.- 8ul.u1.o25 or 15.8! a share. III lg"? ” ' The dividend, payable March 5 721,168. or 35.95 a Share of the the full year.

By FORBES RHUDE Canadian Press Business Editor

Two Canadian life Insurance companies have had their opera- tions in India taken over - or nationalized - by the Indian gov- ', without much being said about it. '

The companies are Crown Life Insurance Company and Sun Life Assurance Company.

They weren't alone. The action applied to all insurance compan- ies. including those of India itself.

Peter McDonald, vice-president and secretary of Crown Life. in a recent interview gave some de- tails of the happening.

"Word of the action came like a bolt from the blue in January of last year," he said.

"A cable from our Bombay of- fice told us that the Indian gov- ernment had created what is known as the Life Insurance Cor- poration of India. into which all com les. domestic and foreign. were absorbed. and that our In- dia business was in the hands of ii custodian.

"Then from January to Septem- her the companies were run by the custodian until the corporation became I legal entity Sept. l."

Under the action, Crown Life handed over 820,000,000 in insur- ance policies and 37,500,000 in as-

sets to cover its liabilities in them.

Aside from the loss of business this cost some money. For one thuig, Mr. McDonald said. the In- dlan government authority ruled that the company's liability should be valued on an actuarial basis ""10"! Iifillxent than the conser- vative basls established under Cg. nadian insurance laws."

It also ruled that the assatsa mostly in the form of bonds .. should be valued at their market value which, in the prevailing state of bond prices. "was very much below normal and complet- ely out of line with the interest rate required in the valuing of liabilities."

EXPECT REFUND

Some money is expected to be returned. because the Indian leg- islation provides for refund of 35. sets which may be found to be in excess of liabilities under the poli- cies. No settlement ha sheen ar- ranged yet, however. .

Policies written in currencies other than rupees were not af- fected by the nationalization. and these have been transferred by the company to appropriate offices in Britain. Canada or the United States.

Crown Life started business in India in I931. During and after the Second World War. however,

it decided out "the handwriting "

wasontllew ."IofarIa future was concerned. and that it

would be better to gradually dis-.' condone business rather than u- I

pend it. EARLIER CLOSING!

In 1958 it was decided to close out, except for caring for busi- ness in force. To look after this. an office was maintained in Bom- bay with a staff of about 50. all Indians. until the iistionslizatio action.

The departure from India fol- lows earlier departures. for vari- ous reasons. from China. Hong Kong. Singapore, The Philippines Ceylon and Egypt - except for I service office in Manila.

Crown Life's business now is concentrated in Canada. the United States. Great Britain and the Caribbean area. It had lifii insurance in force at the end of 1956 totalling 31.638.301.058, or quadruple the amount in force 10 years ago.

Sun Life. under the nationaliza- tion action, handed over 375,000.- ooo in life insurance policies and 830,000,000 in assets but as in the case of Crown Life. expects re- funds.

Sun Life continues to do busi- ness iii Asia in Hong Kong, Singa- pore, The Philippines and Ceylon.

EASTERN GUARDIAN

SALE CONTINUES at Stewart and Beck's until Feb. 9th. New low prices.

WOMEN'S Institute ill Mrs. Lorne Wigginton's Tuesday. 8:00. p.m.

WI:IDNESl)At"S Scottish con- cert at Yeo's Theatre. Come, hear Mrs. Larabee sing the songs of her native Scotland.

SHUR-GAIN AMATUER Caval- onde. Montague High School audi- torium Feb. 12th. 8.00 p.m. For Montague school children and sur- rounding areas. Please send name, age, and title of selection to Mrs. Ruih MacLeod office. Stewart and Beck. Montague. Entries close Feb. 9. Sponsored by Montague Home and School.

PERSONALS

Mr. Blair watterworth. Antigo- iiish. N.S., is spending his vaca- tion at his home in Montague.

His friends are sorry to hear that Mr. James Sullivan. son of Mr. and Mrs. A.E. Sullivan. Mon- tague. is ill in the Charlottetown Hospital and wish him a speedy

TIMELY NOTES ON FIIR TOPICS

Better news seems to be coming from the mink auctions. At the New York Auction company's sale Stewarts were moving in at a I00 per cent clip with top males bringing S51 and females 82.3. in the regular section top males brought 556 and females :30. Both lots were shipped by Northwood Fur Farms. The next four male bundels in the string brought 344.50, :45. 042.50 and S46. Unof- ficial price ranges showed top males mostly selling from S36 to 545. Moderate lots. which drew heavy bidding. brought 327 to S33 and poorer males were 520 to 524. Better females drew from 818 to 322 with moderate bracket bun- dles bringing Slt to S17 and weak- er bundles S10 to 512.

These topics of interest con- cerned the sales room. This is what the dealers, ranchers and

retailers were talking about. The new price level. Almost everyone

was convinced after the above auction that the new price levels have been firmly established. The fact that about 75.000 pastel pelts maintained a firm price level dur- ing two sale of selling convinced

recovery.

the room that a balance between the ranchers' desire and the mar- ket's willingnesss to pay had been

Summerville And Montague Tie 6-6

In a last game of hockey play- ed at Montague Saturday nlglit be- tween Summcrville and Montague High School. The Montague team came from behind in the last min- utes of the third period to change the count from a score of 5-2 for Siimmerville, to a score of 6-5 for Montague. but a lone Summer- villc tally in the last minute even- ed the score at 6-8. This was a regular Intermediate ”C" League game which was most interesting to watch. and I real crowd lllcaser.

Goal gctters for Montague were S. Johnston who scored three L. Monroe with a pair. and R. Shaw uiih a single.

C. Morrlsey. E. Drake. G. Mac- Eachern. J. Cain. N. Fraser and Dunn each scored singletons Tor Sunimerville.

Rcferecs were B. White and K. Ballum.

reached. After the December dol- drums ranches appeared in much better humour because of the active buying and in some

instances stronger prices than ex-

pected. NAME COUNTS .

However, there are other deal- crs with gloomicr views. They are mostly modtratc to small size operators who continue to insist that the market is paying too much for merchandise. These dealers feel that the urge to pur- chase fresh goods has caused some dealers to lose perspective on mar- ket conditions. Conspicuous at re cent auctions has been the impor- tance of rancher names. Obser- vers noted that I well known ran- cher will outdraw a competitor CV9" lllllllill U1! Particular lots involved may be identical in qual- lty. A rancher nsme becomes as important as a respected brand name snd'a good name almost automatior, ltingg with it Price ldvantage. The moral there- fore. is ll lily: to develop a res- pected product.

The American Fur Auctions.

Teen-Agers Club Hos Regular Meeting

meeting "Teen-agcrs Reading Club" was held in the council chambers. Mon- tague on Jan. 29th, with the presi- dcnt Miss Eileen Annear presid-

The regular

the

New York, will offer approximate. ll! 100.000 mink at a two day sale to be held on February 7-0. Raw quantities include 25.000 pastel. l.000 palomlno-buff. Sm topu, goo gunmetal. 1.000 white, s.ooo up. Phlfn. 10.000 iilverblu. 10.000 etan. dard ranch mink. Dressed qngn. titles include H.000 pastel. s,ooo palomino-huff, 1,500 gap”, gym runmetnl. 3.000 white, s,ooo up.

51- . Phlte. 4.000 ll rbl The meeting opened with the homo mm, I W u F” "m secretary reading the minutes ggsg am;

and roll call. It was moved and seconded that the roll call next week will be answered by a joke.

The Librarian gave the mem- bers some instructions on clonal- lying books in a library. Some time was spent in reading from the book ','A Lamp ls Heavy" by S. Russel.

There being no further bualnell the meeting was t

SUSAN HAYWARD scone AS LILLIAN 3011! IN

. "I'LL cliv torsonaoww

"I'll cry Tomorrow." M-G-M's fllmlntion of Lillian Roth's re- markable autobiography with Susan Hayward portraying Mine

1'

is . I.

7; iii

no

iil'l'liliIi;l:ii'f';i!E'f til i g "i E 133 Ililv l 5' git

Furs valued at a minim of 338.000 were stolen. supplismedly

ll! I lone burglar from Richard. son were. early Monday morning. 11..

Furs. lnc.. Wilmington. Den.

M0"'lhllU.matandartlranch inlnkwIalIto'l7pu'eont.ola.c the oiienlnlof a three day soc.

tion at Hudson's Bay Ormpsny

fur salosmlnst week- Prices.

"- GNIIPIII. were

sitii ll 35 all i

vii Bi gr 1. E? I IlliZii:': riiillilrl

oi; iii.

5 fr this ii

I

w Dragger Sinks ' Off Louisburg

Dr. E. Rendle Bownesa has an article entitled Influence of Light on Mink Reproduction. in the lat- est number of the National Fur

SAILED SUNDAY

Cpl- Hettle Mae Weatherble, R. C.A.F. radar operator left Sunday evening from Halifax on board. the liner Scythls for Mctz, France where she will be stationed for two years. She is a daughter of Mr. and Mrs. B.A. Wentberbic, Vslleyfleld.

LITTLE SANDS

Mr. Hughie MacNeill and Mr. Neil MacNeill accompanied Mr. Carleton Home to Charlottetown on last Wednesday on a business trip.

The snow plough made its 4th trip through here on January I7.

Mrs. Mack Bell of Belle River, was delivering baled hay. last week to Mr. Hugh MacNeill, Lit- tie Sands. Due to the excessive snow in the lanes. he had to leave the hey at the gate. where Hughie later hauled it to the buildings with horse and sleigh.

The mail courier. Mr. Leon Mac- Phee, Hopefleld. has again these last few nights. been delivering the mail by truck. it is believed he has to come out by Mr. Hec- tor Stewart's, Wood Islands. as the North and South roads from Little Sands have not been plow-I

News. It concludes with the fol-. lowing: "In the process of build-l ing proper winter quarters for. our mink we must take into con-9 sideration the fact that all our operational dates for mating, whol- plng and other affairs surrounding reproduction have been gained from experience in which the mink were not subjected to any great degree of nrtlficlallty.

Whib it may be suggested that. by exposing mink to an artificial-t ly longer day you could get them to mate a bit earlier or that it might make the males more I- gressivc by giving them I little pre-season conditioning, still it has been our experience that any interference has been less pro- fltable than letting nature take its course. Thus. this winter when you are conditioning your mink for the reproduction season we would suggest that you try and secure normal winter lighting with , normal day length for all your animals and by keeping their weight down and their exercising habits up to make sure they see the light and icpreoduce profit- ably." l

Hospital Ladies Auxiliary Meets

The February meeting of the King's County Hospital Ladies Auxiliary was held at the nursei' Residence Friday evening. There were thirteen members and six visitors present. The meeting, which was conducted by Mrs. Leroy White. opened with the slag- ing of "0 Canada".

The minutes of the last meet- ing were read and approved and the financial report was read by the secretary-treasurer. Mrs. Ethan Stewart. A donation of ten dollars was received from the Baptist congregation in Murray Harbor. Mrs. White reported that the initial hospital muirplicatloo tea held at Hillside Inn in Janu- ary was a success. Flfty- four ladies from Montague and vicini- ty had attended the tea.

The continued illness of Mrs. Frank Dewar in the King's County Hospital was deeply regretted by the members.

On motion it was decided to purchase a number of items for the hospital and residence. Miss Freda Apt and Miss Mae Laven were appointed on I committee to make the necessary purchases.

Following the business. I sodial hour was enjoyed and two .vocal duets "Ivory Towers" and 'It is No Secre" were beautifully ren- dered by Mrs. Arnold Wlgliti-nan and Mrs. Douglas Coffin. Mrs. Ethan Stewart was piano accom- panist for a sing-song. A dellci lunch was served by - AJ-

Msclfenzie. Mrs. Bymll Iilwlri.

and Mrs. Ethan Stewart.

IDUISBOURG, N.S. (CP)- The do-ton drsgger Gloucester X struck an underwater mag and about eight miles off till Breton fishing port Saturday.

ed. This trip lengthens his routel considerably but we are all glad to get the mail at night when pos- slble.

The milk truck from Murray Harbour continues to make their daily trips through here to Char- lottetown.

Mr. Angus Macliean. of Hope- fleld. suffered a painful injury to his hand. While cranking the trac- tor, it back fired, and the liga- ments of his hand were torn and stretched.

It was good to see bare fields again. Everyone is pleased to get clear of some of the snow. The Hungarian partridges will be glad of the bare ground. Flocks of them are still seen daily at their feed- ing places. Flocks of wild ducks. are seen each evening when it's fine, yvendlng their way from the Creeks flowing to the shore, north eastward, either to Murray Riv- er or Moore's Sanctuary for the night. They fly to the shore each morning to feed and return. at

ght.

The I-lopcfield School had been closed all last week due to illness of the teacher. Miss Velma Stew- art of High Bank.

Mr, and Mrs. Donald Alex Mac- Leod. have returned to Char- lottetown to their son's Slmons. after spending some time at their home in Hopefleld.

Sincere sympathy goes out tq rclatlves of Mr. Roy Altken Low- er Montague. whose death took place recently at an early age.

Mrs. Alexander Blue received a letter from friends in England. The Bebbintons (who visited here this summer). This letter only took four. days coming from Liv- erpool. England. Quite a differ- ence from the one previous which took I whole month.

Mrs. Donald Livingstone. Hope- fleld. teacher in Little Sands. was an overnight guest on Monday night of Mr. and Mrs, Alex Blue. Little Sands. These ladies were old teacher friends many years ago and an enjoyable eve- sing was spent.

Miss Maud Macl-Jachcrn. who Is employed in Charlottetown. vis- ited her home in l-lopeficld recent-

The work at Wood Islands wharf has been stopped for some time, due to a shortage of steel, but it is reported that the steel is ex- pected soon. C-0.

Plan Financing Of Aluminum Co.

TORONTO (CF) - Announce- ment of initial public financing of Canadian British Alumlnltun Co..

9 s'

c. It includes an offering by a

rgegroup of investment deal-

I'

iduit for a year.

would not remain in office six months.

Political and economic difficulties. FOREIGN MONEY

steel. mill in the state of Minas Gerais, foreign investors came to Brazil to

South America-increased produc-

The Kubilschek government has cnted trade relations

cynics by remaining Brazil's pres- mm, mm mug; be 5;.-engmued,

The doctor turned politician was maincd inaugurated Jan. 31. I056. for a living has galloped uphill almost five-year term. Even some mem-I so per cent during Kubitscheki bers of his party predicted hel year in office.

, E leader looms as a threat to the Kublts '- " blessed with fantas- government. Rather. political lines tic energy-has constantly been on appear to have been drawn be- the go visiting all parts of this tween l(ubitschek's supporters. huge country. He has faced both I-'A8'l' MOVER

war minister and leader of s Nov- New foreign industry has been ember. 1055 coup, has been ac- attracted to Brazil. A Mercedes- c-used privately by many of pre- Benz truck plant opened In Sao paring to take over the govern- Paulo. Japanese shipbuilding menl. At one Pill!!! all Ofgallllar yards were constructed in Belem,I tion Japanese industrialists planned a' was regarded as a vehicle for ' Lott.

investigate conditions closed the November Front for six and went away impressed. Volta months. Lott raised no objection, Eedonda steel mill - largest in indicating he was willing-at least for the time being -- to follow tion with a -35,000,000 U.S loan. Kubitschc-k's lead.

with garded as political heir of the late European countries. Paraguay and President Getulio Vargas. still is Brazil signed a commercial agree- in l(ubitschek's camp along withl ment drawing that country further the Labor party which he heads.

inflation re-

On the other hand. a The will of

Today no active opposition

Gen. Henrique Teixeirs Lott,

called the November Front

Kubitschek moved fast. He

Vice-President Joao Goulart. re-

NORHT BAY. ONT. (CPI-When; the new explosives factory is com-. pleted on the outskirts of this city it will be the safest ever built. say officials of the Dupont Coo- pany of Canada. - The plant. now nearing comple-I, tion. will cost about S7.000,000. It covers 3,501) acres about one-third , of the area of West Ferris town-V ship adjoining the city.

The site was chosen because it? is a near-perfect distribution point by rail and road. The transcon- tinental lines of both the CPR and the CNR adjoin the property and the Ontario Northland Railway is close by. No. 11 highway. running from Toronto to Timmins and No. 17 highway connecting Ottawa and Montreal with Sudbury, Blind River and Sault Ste. Marie. bisect about three miles away.

when production begins shortly . 150 persons will be employed on a one-shift operation and later this will be extended to I three-shift operation. BOON T0 AREA -

"The company will be a great boon to our township and we hope it is the forerunner of many other

Taxi Drivers' Cliurclii Is Mobile

MONTREAL (CPl A new church which contains a snack bar. television. radio and hi-fl rec- ords opens Feb. 4 on a Montreal street corner. The next day it will move several blocks away.

As Montreal's first church on wheels. it is meant to minister to the city's 1.tl)0 taxi drivers. who are always on the move anwsy. So the church and its padre. hefty Rev. Paul Aquin. will go after them.

The 35- year -old Roman Cath- olic priest. who wears a cabbies' peaked hat with s chsplain's crest, has an office-bedroom in the five-ton trailer. In minutes. he can convert it into a chapel. put- ting up a portable altar and re- arranging furniture. GATHERING PLACE

Mass will be said there twice on Sunday and once every weekday. But Father Aquln wants his 46- foot trailer to be more than I place of worship. He wants it tol be a cab drivers' Club. a place where they can gather for a bite to eat or to see a television show.

"I want abbles to look upon the trailer as a sort of second home. and upon me as the cab- bics' priest." says Father Aquin. formerly assistant chaplain of Montreal's firemen.

The big mobile church, painted a flashy blue. white and black. is I ' ' project of Cardinal Le- ger. who will bless the trailer at a ceremony in Montreal. The

er bears two signs: "Taxi-

's Motor Chapel." and "Le Don Dleu en Taxi." literally "The Good Lord in a Taxi."

Its whole aim is to help taxi drivers who work such odd hours that they often find it difficult to attend church. Father Aquin fig- ures It will appeal to them.

"lt would be useless for mo in. Id IIP I post office with golden, Wills." he says. "Even if I of-1 fered them premiums for cacti

In of 323,000,000 first mortgage vim they ml , .. l

hand. I.” A, mi I .12., . s wouldnt come. I I

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