considers Bank Great Success

MONTREAL. i (C?) - Graham Towers, governor of the Bank of Canada. said today he considers me Industrial Development Bank has been a great success since it began operations 10 years ago.

It has authorized loans of about 5ioo,ooo.o00 to more than 1.300 cm- ierent. borrowers. the vast majority of whom "were relatively small industrial concerns and they are spread widely over the whole range of industry."

Mr. Towers' remarks were in- cluded in the text of I speech issued to the press before delivery.

He addressed a luncheon meeting )f the Montreal branch of the Can-

iuian Club. p M.r. Towers said he is "un. ishamedly ent.husiastic" a b o in

mg, a wholly-owned subsidiary of the Bank of Canada. Before the government a s tab l i s he d IDB, iinaller industrial firms found it no difficult. if not in fact impos- i.ble. to obtain money to finance iisnt and equipment to begin or o expand operations.

FOR. SMALLER LOANS

”The loans required tended to in too long in term to make it appropriate for the banks to provide them. and too :mall in amount to make it feasible or the borrower to go to the market with a .S5Ue . . . '

"Often the bank has been able 10 give the borrower some non- financial assistance, as for ex- imple some useful engineering ad- .-ice, Qr some help in setting up a proper system of costing. or some leads on where he ought to ook for his market."

Of central banking generally, -fr. Towers said it is necessary to be fully informed about the state if affairs in financial market: not inly of Canada but of other coun- tries with which Canada has close :elatIons. .

Mr. Towers spoke also of the post-war financial assistance of Zanada and the United States for war-shattered countries of Europe An objective was encouragement of "a high level of international nude, free from hampering restric- lions and dlscriminations." Perma- ient institutions of international iollaboration - the International Monetary Fund. the International Bank for Reconstruction and De- vrlopment and General Agreement of Tariffs and Trade also have his objective.

Isl! FIBER TRADE

"Common sense dictates that further progress must be made in freeing trade of quantitative res- trictions and in establishing con- vertlbllty of currencies, because policies leading in the opposite di- rection make nonsense of the pol- itical and economic philosophy of the Free World and render difficult the close association of free coun-

chartered

public security p

Wait For Rescue, During Flood

These three men take it easy as they wait for rescuers to remove them from the roof of a half-submerged bung- alow in Weston. a western suburb of Toronto. Hundreds

(By WILF CHISLETT) (Canadian Press Staff Writer) URANIUM CITY. Sask (CP)-

Secrecy imposed on northern Sask- atchewan uranium mining in the hush-hush deys of atom bomb test: has been lifted.

At one time. newspapers weren't permitted to publish details about uranium. the metal which forms the basis of nuclear fission and atomi: bombs. Even in immediate post-war years. only federal gov- ernment prospcctors were allowed into Saskatchewan's uranium area.

Uranium ore production. as far as Saskatchewan is concerned, now has almost reverted the care-

was nothing more than a yellow substance thrown out in the re- fining If radium.

RESTRICTED SPOTS

an area is restricted. But no one pays much attention.

Most. visitors are welcome at the scattered mine camps and in the big Eldorado Mining nad Refining C0,, where a warning found.

Eldorado keeps a reasonably close

sign can be

ity force sees that no cameras get inside the mill and a visitor needs a pass to go through the townsito after 6 p. m. All employees are screened.

A pass signed by mine manager R. E. Barrett is required to get into the mill and an escort is pro- vided. But once inside, there is little the visitor can't learn about the operating processes.

Methods of extracting uranium concentrate from pitchblende are

Police To Investigate

of homes were flooded as rains following Hurricane Hazel UQIIIBBII irregularities

turned streams and creeks into torrents. (CP Photo).

Vital Statistics

OTTAWA (C?)-Among Canadals iprovinces. Newfoundland showed .ihc highest birth and lowcst'death iratcs last year. but Alberta led the field with the highest marriage rate. the bureau of statistics re- orted Thursday. The following table shows the rates. based on each 1.000 of popu- for (1) marriages. (2) (3) deaths. and 14: nat- ural increase which Is the excess of births over deaths:

tries on which so much depends."

"The Canadian economy has ex- perienced an enormous growth in the last. two decades and I am sure that. although there may be variations in the rate. we can count on great progress in the years to come.

"This will require financing on a large scale in various forms- notably through the investment P market and the banks. I am sure that in the field of finance we iralation Canada are well equipped and tliatlbmhS' our economic growth will not bc' ' restricted by lack of credit."

foot high in his backyard took about six months' work.

(1) (2) (ll) (4)

LETHBRIDGE. Alta. (CF) - Nfld 71 33.4 7.1 26.3 Hobby of Percy Morris is carving.PEI 61 25.8 8.7 17.1 Indian iotcms by hand from oiiilns 8.1 27.6 as iss telephone poles. Totems up to 20llN'B 7.9 30.7 8.7 22.0 84 22.1

94 3

cachI Que Ont

HALIFAX (CPI - The navy said today it has asked Halifax police to investigate iialleged irregularl- ties” in the operation of the can- teen at the big Stadacona shore station here.

The bare announcement by Rear Admiral R. E. S. Bidwell, flag officer Atlantic coast. said a naval board of injury also may be con- vened to determine whether ”any service personnel are involved."

The statement said personnel "recently connected with the can- teen” will be summoned to testify if the navy decides to set up its own inquiry.

The request to Halifax police in- dicated the navy: primary suspi- cion was directed at civilians al- gtggggjggjgjgjgg

I76

Man 9.0 26.3 8.7

Sask 8.3 27.5 7.8 19.7 Alia 10.1 31.3 7.6 23.7 BC 9.2 25.8 9.9 15.!) Canada 8.9 28.2 8.6 19.6

THERE ARE

giggg In good grooming!

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Ilaseline.

Control those unruly locks; Make sure of handsome, orderly hair-from, back, side-

ways. Either one of these

Tonic: will do the job. The elur, ?Vaseline' Hair Tonic will check "DRY SCALP", banish loose dandruff, give all your hair

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VIRATOL with Lanolin, will keep your hair smooth and orderly without etifness. Buy the 'Vaseline' brand-clear or erupt-todayll

'V4u-IIu' .7 is. npfmr-cl nu. am: am. Oeulrnpl M1,. oi, curt

1IIe side 995 see

Iheside gig sees

9Vsseline' Hair

TRADE MARK

look.

lustre-giving

readily explained. though the announcement did not

sgy 50, BRIGHT YELLOW SALT -' The statement did not specify ' l wheihe; the ”irregu1aritie5" re. Ore is ciushed and the uranium

leached out in solution, under 'ie'atl and pressure. The liquid IS again

volved around stores or funds and senior officers refused flatly to

comment, further, treated with chemical and the L7.-- finished product. a p bright yellow TAX APPLIES uranium salt, is shipped to the.

Eldorado refinery at Port Hope. Ont.. for further processing. The tailing. residue go back into the mine as fill.

The only thin 5 secret. says as-- sistant mill susei-intendent. Jack: Woodward. are production and grade figures. classified informa-4

VICTORIA (CP) - A request for exemption from the provincial five per cent sales tax on school sup- piles and equipment was refused. One reason given is that the gov- ernment itsclf is one of the largest contributors to the tax. paying around S750.00ll annually.

HAVE S0 MU

Hush-Hush Days Are Over For llranium Mining City

free days of 1937-42 when uraniuml

There still are signs in the .Uran-p lum City district which proclaiml

mill. one of the few placesl

watch since it has the only re-i finery mill in operation. A secur-

Tuesday. October 19. 1954 The Guardian ' Page 7

Distinguished Quebec . !t(i)r;i;ixw)hic)i;Jecrou'lIdhe pod uselful to is p . e era govern-

menp also clamps a lid on how .muc its crown corporation says g . lprivalc mines which ship ore to argufnligg ;EPQ)ueb2g'altfr.:d..Sdlgn. Eldorado. but it's reported to be imfm the norm died lyh lei considerably higher than the old Wednesda lime" a h J!” Dspll base of 37.25 a pound for finished - . y r S or ,1 .ne”'

1 The city's oldest physician. Dr.

uranium oxide. S, -d pp d g The Saskatchewan government 1:125, ygityseoflgigiuliars Eliowg;

declines to say what royalties it .

lreceives from uranium production. :gl:1i'l:Ss:a1:;J2l; (:Qe:e::Cmeats'ds:'m:

Royalty payments are calculatedl mg dncwram at LW 1'U'l, U9

on a profit basis which could re- hf; - i ' a nneuny

. . re in 1397.

veal production totals if made pLib- ,

lic. A formula for royalties now He pracused (W 5 Sim” Ilmk I7-

is being worked out with lzildorado Sh Urba" dc Ch3r1'?V””t' bar?” 1"

pand om" mines. ilurninfg tnrQuf-hcc and tseditlnjg up 5 in ice in in cungis c . own-

.tou'n St. Sauvbur district. Laval

1Unlvcrsity awarded him an honor-

Various methods have been sug-' 3” d”””'”'" f'" h” 'II5””KUI3h9d gested to deal with the secrecy Inedmal l”f”'k- factor. One calls for a flat ratcp V" Ti to be paid with a settling-up every p original Eldoradri Company, a prj. five or 10 years. Another suggest- vale firm mining radium at Great ion is to have all royalty figures Bear Lake in the Northwest Ter- lumped together. ritories. was oxprnpriated.

The federal government main- It. turned out that ii r a n i um. tains secrecy through the Al.omic.stored in silos or dumped into the Energy Control Act passed in I946, harbor at Port Hope. was the prize. i All assay: or analyses of materials . The silos were quickly emptied and showing a content of more than;the harbor dredged. Most of the .05 per cent are not subject to'secrecy was lifted in 1946 when the board orders. federal government decided to let

Secrecy was clamped on radio- private companies exploit uran- active minerals i

UNDER FEDERAL ACT

half-way throughiium areas as a means of simulat- the Second World War when the ing production.

A STITCH IN TIME - - - -I RECAP YOUR TIRES AT 0. K. RUBBER WELDERS

Taking Time Now To Recap Your Tires May Save You Time And Money Laicr.

Winter is Just around the corner. so if you have W'Inter Trends In mind. bring your recapahle casings and be prepared for the first snow siorin.

0. K. RUBBER WELDERS

Grafton Street East Phone 491?.

CH TO PROTECT

In the trained skill and courage of our soldiers lies a wealth of Canadian insurance - insurance for peace. It is an insurance against aggression. It is part of the great Investment by thtiffec nations nf the world --in peace and freedom. . F '

The Canadian Soldier stands in the front rank of the Armies of the free world. His remarkable record as a hghting man in Korea and Europe is a proud contribu- tion to Canada's reputation as a great nation of the world.

To be eligible you mm! In I7 in 40 years of rage, skilled tradesmen to 45. When applying bring birth certificate or other proof of age.

APPLY RIGHT AWAY - Fer fall lnlerinellen write or visit lie Army Recrallluq Centre nu-eel your home.

our Insurance-

Is -His Business

The opportunities for young Canadians of the right temperament and intelligence to make a career in the Army are truly cxccllenf. As a modem. progressivg organization the Army has a continuing need for good men. And the Army is equipped to offer the finest school- ing and training to career soldiers. There are outstanding opportunities for advancement--the rewards of good pay and pension for the young men who serve Canada's freedom in the Army.

ARMY RE(iRl'lTl.V(i STATION. i0'.'A Kent Street. Charlottetown. I'. I5. I. - Telephone .110! on l THE ARMY RECRFITING STATION or MILITIA ABMOFRY NEAREST I'0l”R HOME

SERVE CANADA AND YOURSELF IN THE ARMY

CANADIAN ARMY RECRUITING STATION OFFICE HOURS:

. MONDAY TO men 10 run. to 5 pm. i H T g Wrussoav a mom svsumas 1 pm. to 9:30 p.m.

- 161A KENT ST.. CHARLOTTETOWN