‘

°

6 The Guardian, Charlottetown, Tues., Aug. 10, 1965.

Slowdown On Construction

Renews Inflati

By KEN SMITH

Canadian Press Business Editor

Prime Minister Pearson's an- nouncement of a deferment of some government : construction projects to ease the pressure on Canada’s building industry brought sharply mixed reac; tions and a renewed debate on inflation last week.

The decision was criticized

by many labor leaders and con-,

struction executives, who saw in it a threat to employment and continued rapid growth, but economists generally approved of at least the theory behind_ it.

One of the biggest blasts eame from Claude Jodoin, Ca- nadian Labor Congress - presi- dent, who said the govern- ment’s reaction to the short- term scarcity of skilled workers and some materials could pre- vent attainment of long-term growth objectives.

Economists, however, agreed with the government that the present construction program— expected to total $8,300,000,000 this year, 19 per cent. more than in 1964—could cause dan-

~~ "_gerous” bottlenecks in some” key”

labor and material areas. These shortages would inevit- ably mean a slowdown in the industry,. as well as higher costs, says Dr. A: N. McLeod, chief economist with the Tor- onto-Dominion Bank.

SUPPORTS PLANNING

“If you're going to have: a slowdown anyway, it’s better to do it rationally.”

. Bank of Montreal says in .itsS latest economic review that there is a real question as to whether any further increase in capital spending can be achieved without considerable distortion im the ecoriomy.

A stéel donstruction official noted that there are two_clas- sic responses to a shortage of labor or materials—reduce the demand on them or increase the supply. Both these, he says, now are happening.

“The government < reducing the immediate derind, industry expansion v:ll mean a greater supply in a year or so. And retraining programs should mean more skilled la- bor will be available.”

But the Prime Minister's sug- gestion that private business cut back on its building pro- grams for a while got support.

“Our expansion program is a long-term project and we can't *\just turn it off or on at a mo-, ment’s notice,’’ said a steel ex- ecutive in a typical response. Concern about the inflation-| ary effects of continued price pressures*-within. the construc- tion: field occupied the thoughts

of some economists.

Dr. McLeod, who noted price increases in construction spread quickly through the economy, said the rate.of the

Old Indian Fishing Weirs

while?

[reported by major’ companies.

. 846,000 or $2.56 a

little

|were reported by Steel Co. of

on Debate

economy.”

The Bank of Montreal, which accused of subversive activi-

had .warned shortly before the ties and spreading Chinese government announcement that pe

inflationary pressures are one danger sign in the Canadian economy, pointed out that io the nine “months up to last June wholesale prices rose by

more than three per cent. Summed up Dr. McLeod: “A rise of @éven one or two per

cent in prices is one or two per cent too much.” 3 | The extent of the construc- tion boom was shown in the latest figures from the Southam Building Guide's statistical bal- jetin, which reported the total dollar value of Canadian con- struction contracts for the first seven months of this year was $2,998,813,000—an all-time high for that period and 18.1 per cent more than in the similar 1964 period. “* Regionally, the bulletin showed Maritimes contracts down 31.5 per cent compared | with” last year; Quebec” up 81:8} per cent; Ontario up 21.1 per’) cent; the Prairies down .9 per cent; and British Columbia up 99.2 per cent.

Elsewhere on the . business scene coupon clippers had rea- son to remain happy.

DIVIDENDS RISE

The brokerage house of J. R. Timmins and Co. reported divi- dend payments by Canadian companies in the first eight months of this year have to- talled a record $714,991,700—13 per cent more than the $630,- 394,000 in the similar 1964 pe- | riod and 2 per cent higher than in 1963. ‘ j All four major categories showed sharply higher pay- ments. With comparable 1964. figures in brackets they are: industrials $356,741,800 ($328,- 355,600); mines $137,328,400 ($113,983,500); utilities $126,865,- 300° ($103,664,300); institutional firms $94,056,000-—<$84,390,700).—| A generally cheerful picture came from half-year earnings

Two giants reported significant | gains—International Nickel Co. | of Canada Ltd. was up to $75,- share. from $70,921,000 or $2.40 in 1964 while | Bell Telephone Co. of Canada) rose to $42,030,000 or $1.42 a| share from $35,688,000 or $1.28. |

On the basis of its record | earnings, Inco increases its div- | idend to 70 cents a quarter from 62% cents. |

Lower earnings, however, | Canada, down to $18,696,000 or 77..eents a share from $20,214,- 000 or 694 «cents. ‘It _ bl

higher costs, increased provi-f sion for depreciation and inclu- jj +"

sion in the 1964 figures of sig- nificant. non-recurring items.

For the next five years f Wm propaganda on be more than $733,000,000. Beginning in 1955, China sent dents involving workers and jun- |there. construction crews to. Mongolia. ior Chinese diplomats. i The maximum number was 13.- BUILDING. BRIDGE /000 according z |nouncements, ‘sources have said 20,000. j In’ April 1964; Peking said price rise’ has been accelerat-)Mongolia/*had told the Chinese ing lately “and that surely i® laborers one sign of a distortion in Ol teres Mongolia said they were

Probed By Archaeologists

ORILLIA, Ont. (CP) — Ama- teur divers and archeologists

mer to investigate the remains)

2 Of 350-year-old Indian fishing

weirs. About_20_enthusiasts..are.map-. ping The Narrows between Lake. Simcoe and Lake Couchiching nder ipervision of Walter

to. The fishing weirs used by the Huron Indians were described by Champlain in“the journal of his visit to the Orillia district 350 years ago this summer. This is one of the projects being car- ried out on the 350th anniversary of Champlain’s visit to the Or- illia area. : Dr. Kenyon described the sig nificance of his work in these terms: “There are may un- knowns in this thing. I won't

~|find whatever is left of the fish-.

ACCW and Jean Slater of Tor- jonto is the chief diver.

The: fishing weirs were built | ‘by the Hurons to channel fish |spawning in the spring into a section of The Narrows where |they could be netted or speared.

| Fish-were-an-important-part- of |

as fertilizer for their corn crops. |

by.-the-.scuba..divers_will. -be-to

ing weirs, the posts, theit spac- | ing, their locations, the type of. wood, in fact. anything on the channel bottom which might per- tain to the fishing weirs. ' A diver, swimming on the bot- tom, will hold an aluminum pole | vertically up from the location | jof every stake found under | | water. Two professional survey- | ors will take bearings on this pole, enabling a definite position | to be established for each stake. | The exploration is, in the}

on The,.object...of .,the -exploration.4 .-

really know in detail how I will) : record this until I try it for size.| Words of Dr. Kenyon, “an at-— I'm working in a busy place and| tempt to record in detail.some-| should :.‘congestion...get...out..of | thing that might prove signifi- | hand .I’ll simply stop working.” | CAR Darehoe ad a tc] The location of the old weirs! cad { was pointed out to Dr. Kenyon fanvee cia on one and the divers by Graydon BY ick hin atuudindl Sahadieay cn re * marina—employee. | student. Now, as an archeologist In the springtime you cam| with the ROM and as a colleague see the stakes quite clearly,’’ he of his old teacher, Dr. Kenyon said, “‘but in the summertime, |i, trying to solve the historic- | with the weeds grown up, they're scientific problem posed by the

impossible to see."’ reference in. Champlain’s jour- The “project is under the direc-. nal. : iene tion of the Archeological Coun-| The diving operations are

cil’ for Canadian Waterways. » ACCW, pronounced ‘aqua.’ This group was organized as a result of the first Canadian conference | on.__underwater archeology in Toronto last April. The purpose of ACCW is to co-ordinate any | discoveries made by divers. so! the maximum of scientific and historical knowledge can be re alized from the finds. Dr. Ken- yon is the research director for

being carried out by volunteers who hold regular jobs during the week. This requires the work to be done, or at. least’ at- tempted, on the weekends when | these volunteers are not work- | ing. |

The ACCW is providing the onganizational system for the mapping project, but the divers are assuming much of the cost themselves.

Chinese Ignoring Request To Leave Outer Mongolia |

MOSCOW (AP)—Chinese la-/against Mongolia for siding with | borers are still working in Outer the Soviet Union. They have | Mongolia 16 months after Pe-'blocked the landlocked coun- | king annqynced the Monzgolians try’s trade through the ‘nearest | asked them to leave, diplomatic ports in north China. Foreign | sources said here. trade is uneconomic over long

Amid great bitterness. 4.500 | Russian rail routes. China also Chinese laborers are finishing has withheld new aid and cut | construction projects in the | down trade with Mongolia.

>

Asian Communist country sand- | DEPENDENT ON RUSSIA wiched between China and So-| The result has been to make | viet Siberia. * |Mongolia éven more dependent Mongolia, with slightly more jon the Soviet Union.. Moscow | than 1,000,000 persons living in jhas had to make special aid al- | an area about the size of Que- locations to Mongolia. bec, has been a Soviet ‘ally for| Total Soviet aid from 1961 four decades. through this year has been an- The Chinese have retaliated |mounced as about $500,000,000.

Nem teas declared & is was made ee ee Caen sae ak ee : ready to respond to a cal! for {not need assistance just now |¢Tmment outposts towns

help by the Viet Cong guerril- |The Viet Cong call was in an- Chuong Thein province, 105 to las. swer to President Johnson’s an- 120 miles southwest of Saigon. ‘We must do and have fully |mouncement July 28 that 50,000

the right to do all necessary |more U.S. troops would be sent QUEEN STAMPS TOO

By EDWIN @. WHITE {things to defeat the U.S. ag-|'© tags Viet ae rae WINDSOR, England (AP)—

a holel in Ulan Bator, the capj- dustrial city for 60,000 persons) Associated gressors and completely liber- newspaper The Queen joined other 5: a tal.) and building a niches [being built 120.miles north of} SAIGON lange scne ate our country,”’ said the of-|Cong guerrillas have “all moral jtors on the polo field a ‘bridge north of the city. Ulan Bator. ~~ Viet |ficial newspaper, Nhan Dan. j|and material conditions to con-|time Saturday to tamp down. the-

The Chinese ambassador in| Mongolia is under Soviet. mill-| But as broadcast from Hanoi, |tinue their sacred war of re-/turf kicked up by the horses oi Ulan Bator was quoted as indi-| tary aetention’ Last September |P4rt of the Chinese empire, be- the newspaper statement indi-|Sistance until final vietory.” her son, Prince Charles, and the cating relations are bitter. He|it accused China of scheming to|fore the proclamation of the Chi-/cated the Viet Cong, whose call| Sunday, the Viet Cong con-|other players. The prince failed accused the Mongolians of fore-'absorb it. Mongolia long was gese republic in 1912. on North Viet: Nam for help|tinued harrassing mortar at-|to score and his team lost 5-3.

ere were oie gooey ho =o ire! Saigon Says Ready To Send Viet Cong Aid

nese dispute

| About 5,000 Soviet construction

: )workers are working in Mongo

to official ang? Diplomatic sources said the |s:

although some Chinese’ still in Mongolia = the sources said. They are} finishing apartment houses ang|/™0Stly in Darkhan, a new {n-|

to go home. Report

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