Royal Bank Joins E.P. Taylor Plan

LONDON (CP) — The Royal Bank of Canada and Britain’s Westminster Bank- Ltd. an- nounced here they are join- ing with other financial organl- zations to establish a $30,000,- 000 lending corporation in the

Bahamas under the chairman- |

ship of Toronto industrialist E. P. Taylor. ‘

This big new venture will help |

strengthen the pound since a

substantial volume of Canadian

dollars will be moved into the

new venture and converted into

sterling, said R. W. Shannon,

general manager of the Royal * ~SSCOCCCHS OOSOOOOe

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Bank's international division, who flew over from Montreal to participate in the announce- ment.

Others present at the press conference included Canadian- born publisher Lord Thomson, a director of the Royal Bank, and D. A. Stirling, chairman of West- minster Bank.

Other major participants in the new opération will include the Hong Kong and Shanghai | Banking Corporation and Mor- gan Grenfell and Co. Ltd. The new company wil] be known as Roywest Banking Corporation Limited. It's head office will be ‘in-Nassau but it will operate throughout the West Indies Com- monwealth area.

a main purpose will be to

and develop = loans, principally for in-

'dustries but also for housing

at Taylor was chosen chair the new cor- poration bec he resides in the Bahamas and is well known

Shannon said

internationally

Taylor also will continue as

‘chairman of Trust Corporation |

of Bahamas Ltd...“ which will come under contro! of*the Roy-

west Corporation through an exchange of shares Initially, the Royal Bank’s

more than 50 branches in the Caribbean will act 4s agents for

|the new corporation

Laboratory Construction Is Started

DARTMOUTH, NS. (CP)— Construction of a $1,250,000 ta- boratory and headquarters for the Nova Scotia Research Foun-

sity, beginning

Miss Rooney.

BOARDING HOUSES WANTED

To Supply Room and Board to Students at St. Dunstan’s Univer-

Call 2-1248 with details. Ask for

a

about Sept. 13.

| dation was started hee when Chairman Ian MacKeigan of the Atlantic ae Board turned the first

the Dartmouth site.

Mr. MacKeigan said construc- tion of the three-storey building “marks a vital forward step in the development of the Whole Nova Scotia economy.”

Works in the new laboratory, to be situated? on a 10-acre site in the W ide district of Dart- mouth, will centrate on re- search in applied biology, chem- |

istry, physics, geophysics, pho | togrammetry and operational research.

‘and secondary industries must be encouraged and assisted by modern research facilities. (ttorney - General R. A. jahoe said the ADB grant made | ‘the building possible and “‘indi- leates the board is carrying eut- very wisely its task of promot- ing the economy of the Atlan-| tic region.”

GIRL DRAFTED; GIVEN CHOICE

ROCHESTER, N.Y. ‘AP) Charme! Bobby, 18, a June graduate of suburban —Pen- field high school, received a US. Army draft notice here. |

But she told the draft | board she'd rather be an | airline hostess.

Charmel had been inad- vertently listed among the school’s male graduates. She | was even offered a chance | to serve in the military po- |

|

"lice:

ONE CITY IS OLDEST

>Group,

| Nuns May Form Separate Order

VICTORIA (CP)°— The six nuns who run the Good Shep herd shelter for abandoned ani- mals near here may try to reconstitute themselves as 4 separate order.

Mother Cecilia Mary said here she and the five sis-

'the action was being contem- plated. |

followed a fresh order from the }Roman Catholic Church for the |nuns to turn the shelter over to a lay agency or, abandon their |religious vows.

The Benedictine priory and \its order of the Sisters of the | Love of Jesus were founded by

Mother Cecilia who brought the | Anglican order into the Roman Catholic Church several decades

| ago. The church has stated it does not conside? the nuns at the metchosin shelter are leading an “accepted religious life.”

BUSINESS BRIEFS

TORONTO a funds, has raised its semi-an-| nual dividend to 3 cents a’ |share from 15 cents.

TORONTO “(CP)—Power Corp. 4

|of Canada Lid. has increased its | dividend to 10 cents a share |quarterly from nine cents.

TORONTO (CP)—A new trade | show, the international apparel - ction show, will be held

produ |May 9 to 11, 1966, in “Toronto.

| Exhibits will include machines, | equipment, accessories and find- ings involved in apparel produc- |

Che Guardian

“Covers Prince Edward Island Like The Dew” Charlottetown, Sat., Aug. 28, 1965.

SECOND SECTION

HAND WASHING FOR DIEF

Opposition Leader Diefen- baker, left, has hands washed ty Abbot Dom Sylvian during Mr. Diefenbaker’s visit to a

Roman Catholic monastery at St. Denoit du Lac in Quebec's Eastern Townships. The wash-

PAGE 9

gation, surveillance of ocean | and air traffic, communications and inspection and perhaps de struction of enemy satellites The result would be a Buck | Rogers - type patrol involving scores of manned spaceships

ing of hands {s in keeping with a centuries-old tradition of | the monks. : 4

(CP. Wirephoto)

|operating out as far as’ *the

The Syrian city of Damascus/|tion operations. Requests for is the oldest continually-inhab-| space have been received from | ited place in the world, being) Canada, the UnitedStates and

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Seen Step To Put US.

By HOWARD BENEDICT {manned spacecraft capable of

HOUSTON, Tex. (AP) —Mili-| raining’ nuclear destruction on) tary men know the best way to! any area of the globe. gain a battle advantage is to| The military space race be-|i take the high ground and hold tween the United States and it. | Soviet Union actually has been Now, with an order to develop| going on several years. Until a Manned ‘Orbiting Laboratory,|Wednesday, neither country the U.S. defence department; wanted to admit it. will extend this. axiom hundreds | REMOVES MYTH of miles into space in an effort} But President Jolinson re- to gain military supremacy be- moved the myth that the United fore the Soviet Union or any)|States is* pursuing a purely other country. grabs control. |peaceful and _ scientific space) The race to achieve military’ program. He gave the defence) dominance in space might be! department the green light to/ more vital to mankind than the' develop the MOL to determine dash for the moon. If a country; whether man can perform use- with hostile intentions ful military duties in space. manded—space,-military-experts |-The—-$1,500,000,000.--he-—author- say—it_could_exercise—a—policy-|ized—is nearly $2,000,000__more

com- |

network of manned and un-|Gemini program.

| moon, perhaps beyond.

RUN BY AIR FORCE |. The U.S. Air-Force, which will

Manned Orbiting Laboratory

run the MOL program, has been training its own astronauts in e

school at Edwards Air Force Base, Calif. It will not draw from the present 33 national

aeronautics and space adminis- Ahead tration astronauts. Defence planners hayeoalfgued |for years the Soviet* Space pro- It will‘cover the price for de- gram is aimed——primarily—at | velopment, test flights and the obtaining military dominance, | launching of five two-man orbit-| They said the U.S. must push ing laboratories. forward rapidly with a program Each MOL will consist of a|of its own. Gemini capsule hooked to al The air force has launched tank-like section the size of a| nearly 150 unmanned military medium-size house trailer. On/-satellites, most in secrecy, from launching, the astronauts. will| Vandenberg Air Force Base, ride the Gemini, then transfer| Calif. They are used primarily to the tank which will be|for reconnaissance, keeping a equipped as a scientific labora-| constant camera watch on Rus- tory. After 30 days or more/sia and China.

aloft, the pilots will return to the Gemini, detach it and fly home.

During their periods in orbit,

ih their shirt sleeves and con-

US. sources believe Russia's Cosmos series, the 79th of which was launched Wednesday, has a

| similar spy-in-the-sky role.

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