a

VOL. LXXVI. NO.‘ 80

Liwtcnant-Governor F. Wal- ter Hyndman officially opened the 1m provincial Dance Fes- tival at Prince of Wales Col-

ii it's Good For the Island The Guardian is For it

1 All

DANCE FESTIVAL OFFICIALLY OPENED-m

lege. last evening. Here His Honour chats with two young Parkdaie elementary perform- ers. Susan Ronahan and Linda

on Incl-d 0 Ottawa. ad a: mural d pod“.

; who @uerdiom.

“Covers Prince Edward Island Like The Dew”

Clu- lliibyth Pu;

MacNeill. The competitions are being continued today. (See story on page 5.)

‘Grave Abuses' U ncovered

US. Securities

WASHINGTON (AP) M The

Us. Securities and Exchange

Commission called Wednesday for new laws and sterner self- policing by the American secur ities industry to correct "grave abuses" it said were uncovered in its sweeping investigation of the stock market.

But the commission. in issu- ing a Loon-page report which had been fearfully awaited by the ~U.S. financial community gave. this reassuring conclusion:

"The picture presented is not one of pervasive fraudulent ac- tivities. . . .

"The report should not impair public confidence in the securi. ties In a r k e t s. but should strengthen it as suggestions for raising standards are put into practice."

To curb shady practices. the report said. the F hould

Have power to bar con-

victed criminals from selling ock. 2. License every individual stock salesman and encourage better training for the job.

.. Recei e periodic financial reports from major firms whose stocks are traded "over the counter"—those not listed on the recognized exchanges.

4. Obtain from Congress some new authority curb suc "wild-eyed" speculation in "hot tissues" as occurred from 1959 through 1961.

5. Set up a permanent. sep- arate unit which coul keep watch on the industry without being hampered by routine S.E.C. business.

MARKET REACTS

The initial impact on the market was mild, even favor- able. in apparent relief at the mildness of the findings, After the closely guarded report hit the news wires. stock prices

U) m

Field ..

surged toward new highs in moderate trading on New York's "big board."

G. Keith Funston. president of the New York Stock Exchange. said the exchange will begin immediately a careful study of the r e c o m mendations. hinted that the exchange op- poses any new regulatory legis‘ lation by Congress. He. said:

"The exchange is convinced, based on its experience. that vigorous self-regulation in com- bination with enforcement of the existing securities laws is the key to maintaining a healthy. responsive. and effi-' cient. market place and to serv. ing the public well. . . ."

But the SEC report—only the' first of two instalments but so bulky that it was bound in five volumes weighing 12 pounds— called for a half-dozen pieces of legislation to protect the public.

French Coal Strike

Settlement

CP from AP-Reutern

Reached

back to the pits before the end

pARIS g, The government. of the week. Quick ratification

owned coal mines and French unions Wednesday

reached ment of the month - long coat

night Wh a compromise settch I

of the accord by leaders in the coal basins was predicted.

ile agreement removes one major headache for de Gaulle on the economic front.

strike, The agreement removed it may confront him with an- a major threat to President de other: How to halt the persis- Gaulle's booming economic pro- tent rise in prices and prevent

gram. Wind 11 up two days steady bargaining. union

another wave of inflation. The government still faces

of and demands from utility and rail

management officials came to workers but union agitation in

terms expected to send

country's

Time Considered Not Ripe I For School Consolidation I

lme is\ "not " for

The t I the consolidation of elementary”

schools in the province. Prosp- ' aIIlt lL-lst Prince) laid in the Legislature yester-

Spenking in the debate on the Speech from the Throne. Mr. Arscnault. who said 'he was in favor of extending educational

throughout the pro-

. commented “i do not feel that i can go along with boots t

i

the these fields 240.000 coal miners sparked by the coal walkout.

been largely

should be given to this before new schools are started.

Dealing in general with edu- cation. Mr. Arsenault said "we seem to be getting away from the humanities and speaking in terms of dollars. cents and new buildings.

“We are told by experts that all educational activities are basically aggressive. aimed at the coliqueat of the mind. Each

Red Moon Shot

Is On Course MOSCOW tAPi—Lunik iV, uni course. has passed the halfwayi

but rponed

m- ono-mum- CHARLOTTETOWN, CANADA,

W E A T H E R Cloudy. rain in afternoon. mixed with chew and freezing rain; light winds in- creasing to south 30- Low-high 18 and 40.

NOT MORE

THURSDAY, APRIL 4, 1963. [m SEVEN CENTS

iSeason Disappointing Onei

ST. JOHN'S. Nfld. (CM—The

sealer Sir John Crosbie arrived port here Wednesday wi

about 12.000 pelts and broken steering gear after nearly a lmonth at the northern front off the Labrador coast. t Capt. Les Windsor said this [year's seal hunt could be called

Sukarno Plans ’ Disaster Area Visit Shortly

DENPASAR. Bali (AP) President Sukarno plans to visit

_ age. the 106-man crew. who wrll .

this disaster-stricken island to gain firsthand impressions of he havoc created by eruption; of Agung volcano last month. it. was learned reliably Wednesal day.

Sukarno earlier declared Bali a national disaster area follow- ing eruption of Agung March| 17. use to 1.500 people lost] their lives in the resulting dis-5 aster and almost. 80,000 had to} be evacuated. 1.

Seismographs located about| five kilometres from the centre

indicated a slight tremor Wed- m

nesday. but 0 other unusual volcanic a c ti v i t was regis‘. tered. Volcanologists studying Agung earlier warned anot er eruption might be 'in the mak-t ing within two or three days. ‘

eanwhile. r e s c u e efforts l continued. A Philippine aid mis-' sion of 35 persons flew ‘into this island capital from Jakartato Join a group of 17 rinsing par- amedics already assigned ~to medical centres in Klungkung. Banin and Padangbay. The

.ilipinos brought six tons of medical supplies with them.

The lndonesian air force an- nounced it plans to start air- drops of food to people still ma- on the northeastern side of the mountain.

House To Sit - Twice Today

I r

edule the Legislature has been following. the next sitting be Tuesday afternoon.

will

lP . tied

_ he added. Liberal Leader Pear-

The. Premier said that an at- tempt will he made today 0

ll l r

1

3 I t the "spring of disappomtments” early in the season choppedt ' as far as he is concerned ‘ ath into a 50.000-seal patch?

The big vessel broke a sec- a string of Norwegian vessels

tion of her rudder equipment trailing through the ice in her

By ROI) CURRIE LONDON lCPt - Increased spending and lower taxes were

bie . .4 {a p

March 27 after only two good wake. . gcombined Wednesday in Brit,- days of taking seals. From But the whitecoasts were too I» i tain's 1963 - 1964 budget as. lib on she operated with a-tsmall fo" the Crosbie. which ithe Conservative government jury-rigged affair. depending on :had no market for seals under‘ Imoved to def‘icit financing to a stern winch to swing the big 20 pounds. The Norwegians ., rencourage business expansion rudder blade. killed them. Capt. Windsor said. [without inflating the economy.

It was called a “family man's

apt. Windsor. in an later ‘so he left to find a more ma-r _. ‘ ' fbudget" because those families

view aboard the ship soon after lure patch.

she docked here. said he struck He found them off the Wolf _

the first whitecoasts — baby.lslands. in the Hamilton inlet;

seals—March 8. but got only a ;arca. but tried for several daysr‘

few from the tiny patch. tbeforB getting close enough to As he talked about the my the patch.

EQUIPMENT BREAKS . The crew got in 'two good

hi!“ gangplank' carrying crises/[ft before the stearIng equip-

rs in bags. boxes and just '

together with string.

GET FLIPPERS

.. ‘red (1 income tax rates and increased exemptions. ‘ Chancellor of the Exchequer ‘Reginald Maudling. who pre- sented it to a jam packed House of Commons. said: "The theme of this budget is expansion expansion without inflation—expansion that can be "l‘ ‘sustained.’

IN HSPIAL

Mrs. George Drew. Mile of the Canadian higth commis- sioner in London. was resting comfortably in a London hos- pital Wednesday. She had an operation Tuesday night '

make about $220 for the trip. formed a steady stream down the 5

After that, Capt. Windsor said. he was afraid the tempo-‘

' . b have the ri ht W 19 e was l”.lll 0 PIC UP v _r=,‘ v' ‘ __ Salli]: lffigpetrseyfrom the segals ‘his huntc rs. leaving them‘ the bronchial tubes. ‘50"? 3450-900 Persons from they k'n stranded while it was rcpairedy (CP Wirephoto) ggaymtr: any _ltfll1con'itlew taxehaatngagg. I . ' oge er W1 0 .r , Taday they mu nne down. including tax incentives to at-

. . selling them to all comers. Usually they go for $1 a flipper. and there was a lineup of cars and trucks be- side the ship waiting for the en and an early chance at Newfoundland's favorite dele- cacy. Capt. Windsor sard the Cros»

Diet Says He Doesn't

tract new industries to areas of high unemployment, they repre sent. tax relief totalling £270.- 000,000 ($810,000.000i

Total expenditures for the. fiscal year involved were esti-

Argent‘ine Rebel Bid For Tru ce .anarchismarse:

‘of Canadian funds.

3' FIRST DEFICIT SINCE 1947 This is an increase of £564:

BUENOS AIRES LAW-Lead. the big Puerin Beigrano nav ers of an Argentine navy re.» base. 350 miles south of here. volt against President. Jose Ma! ln Buenos Aires. both rebelr ria Guido Wednesday night and loyalist sources said Vaz-tand with “venues estimated at were reported seeking a truce. quez would fly to the capital;£&858'ooonm leaves the guy. But both sides were claiming'. later for talks with government '

000.000 over the. previous year

i ‘.".‘.. )7: _' 114.33% victory inithe rebellion and a} officials about a truce; ,léipthe first since 1941 ' I‘EbPl Tadl0._alll.l°"llce‘l a ller Loyalist military leaders‘ In addition. Maudling has national government would be claimed the rebels had raidrhudgeted for net government

set “P l" the Port City 0‘ Bahia down their arms after being'payments of £597.000,000 in ft- Blanca- _ pushed back in heavy fighting nance loans to nationalized In- I A" Al'genim" "l’A‘VSI’al’il’-r south of here. But. a rebel dustries, local authorities and ' ' ' Ported that Rear Admlra Ea't source said Vazquez "is not;colonial govornments as well as iiifiiiemigfifiiii Satisfinlgcaiiigl di” Vazquez-.commander "f ant coming to surrender. He will for other purposes of a capital “1 donit push e'asyu i aircraft carrIer-leld fleet Ighreat-z only negotiate a truce." new d "’ t . Welling 3" 355m” 0" “ems: ' l l. ,y This boosts the, over—all ef- lm not on the floor now. tAires_ had left the fleet and “goiurgefmliier; 95:1: rhae‘:owr;n {cit to neafly “mim‘om‘ flown to rebel headquarters at: sparked the revolution Tuesday; Ammg key "he "E9; an. the country but here Is one ’

t . inounced and fo r e c a s i were ace where he's not followingr "

nrng ~- Benjamin Menendez: pl rth me and that's into the prime.

or and Federico Toranzo Moniero ministership of this country." -‘ g In Murder Case

BRADFORD. Ont. (CPL I P r i m c Minister Diefenbaker ; said Wednesday great and pow-

son was followmg him across

.592

1. increases in personal tax exemptions for smgle persons, Imarried couples and children

»-—a|sn has flown to Puertn Bel- ; grano.

vegetable-growing centre. Not,teni to wound and of rioting? the. government. . all could get info the second-iwere discharged by Mafllstl‘ale ‘———‘—“—‘_*

finish the debate on the Speech from the Throne.

Frank Jardine (ll-4th Prince) adjourned the debate yester- day.

mm on the flight to the moon with its instruments func-l tion‘ing normally. Tass an-' nounced Wednesday. l

The Soviet news agency said the instrument laden. 3.130-

und research vehicle covered} 134.215 miles of the 238.Bw-mile= Journey to a rendezvous with? the moon in the first 24 hoursl after its launching Tuaday. ~ {

y Russian account. the fulli trip will take 3% days.

Secrec persisted about ex-t actiy what Soviet scientists‘ want Lunar to d. printed commentaries played up in general terms the value of both telephoto work and a1 moon-based robot laboratory to expand scientific knowledge of the planet.

i

be taught. The first one II‘ with techniques and t cond is the underlying questiont of the aim of education.

" e aim of education might be good or bad but it is never neutral. There is little argu- ment today that education fa- ces far greater problems in' aims than techniques. r

“Education is where we facel the crucial struggle of our times. at is why schools are

dea h .

o malice JIutye.snme tes. butlet usrtsolmportan.

“I I hand tad: 1 small member that of “Let us moire no mistike - Mantels-vs homo early than no returning to schools humanoqude dc- lng-thannmmdnot mm; auger-mononucl- chem peo- Ir-tllaboutlm" truncate-artisans”. planccoptlhe momma

.,Ihbpolntadootthatn¢w magma ." tlla heavy fin a. said thorn are two m A oaths people" of scth dis. aspects of education - how to Turning to his an electoral riots“ ttoachbutandwhatyouthtato Imumamu

l se-la

‘go further than that."

Pearson Says Diefenbakar lrresPonsible

MONTREAL (CPI —« Liberal Leader P e a r s o n Wednesday night accused Prime Minister Diefenbaker of irresponsibility and demagoguery in his attitude to defence.

He

said Mr. Diefenbaker's

remark about Canada becoming ‘

"a burnt sacrifice" if the Bo< marc anti-aircraft missile in armed with a nuclear warhead will be quoted with satisfaction

in every Communist newspaper -

in the world. "These are the desperate tac- tics of desperate men." Mr. *

Pearson said. “1 condemn them from whatever source they come." V Repreating the Liberal pledge d a'l commit- ments to accept nuclear ammu~ niticn. Mr. Pearson said that if the Bomarc is no good as Mr. Die‘fenbaker LI u g g e I ts "then why didn't he scrap it months 9.!

As for the “burnt sacrifice." remark. the Liberal leader

"I-ask you whether irrespon- sibllity and demagoguery can

He spoke to some 4.000 who filled even‘standing room in tho Craig Street A south central Montreal. on the fringe of the financial district.

r. earson left it to his Quebec "chef." Lionel Chevra‘er. to deal at tength with defence in one of the three speeches that kept the party leader waiting on the platform for an hour

There was a constant rumble of voices in the hall throughout] Mr. Pearson‘s 0 - mlnutnt "och. t

floor room ‘In the community Gardner after Crown Counsel S. . . LONDON {CPl National

centre (I; Caldbick offered no evi- salarles For .rfgvspgapgrs mdayrengsedrlciwc—Hg; ence. , . . . _r

.. . - R . Reginald Maudling‘s bud get

INSIDE TODAY .d:...“?.‘ii1"h:§:i 2112:: M°Y°" “PM” Wednesday—mat

Made POSSIble wrll be no BrItIsh general elec-

part of the murder charge. and. ‘fion this year,

Announcemen‘s'mm" ‘5 Iif necessary. indictments on t 3 rs on both sides of the mulls. d9 u“ - - ~ - ~ 15 .‘fhem could be. obtained later A“ fimmdmfl‘l ‘0 m“, Towmpolitlggl fence pill that interpre- Clll'smed ~ - - - - - -' I" ‘5 lbeforc a higher court. ‘ Aci. gIvcn second reading “tation on the chancellor of the 09m. " ' Is 1‘ Each settler HOW faces three. approval In prmmpl“ ‘— in theiexchpqupr's budget re. Flllfllwe- infirm" 15 .charges of non-capital murderl chIslature yesterday. pro-[duced income taxes. pal-mu. Editorials a in connection with the shootingi Vides ih?‘ may”S and munc'i‘rlarly for lower-income brack- Kjllls county ‘ deaths of three striking WOOd" W's 0‘ Elimrpm‘ait‘d '"W‘ls Ofleis. but contained no spectacu- CI‘Y queen” ‘ iworkcrs near this Northern On-i the PrOVlllt‘e may he Paid 531' lar pr0posals, Prince Com"! ‘ tario town Feb. 11. This makes aries. Opposition Labor party chief summerd‘“ ' a total of 60 charges that must. According in lhf’ hm- "lhe‘ Harold Wilson welcomcd the 1 Sport I - - - - -- be heard in the higher court.‘ mayor may he Paid a .vcarleudm's economically cxpan‘ women“ ‘ probably the Supreme Conrt of sum not to PXCN‘d 5'00" afilsi-cnist features. But be com- Ontario. ‘ salary of office and each coun-tplained that for years the

Clllm‘ may 11“ Paid 8 .Veal‘ly Conservative regime had held

£840 annually average—will ings less in persona! income ta; and a married man with tw

lemment with a £71.000.000 def-Q

PVf’l’. government is beginning to take seriously the demands of indus~

of Dircctors. top businessmen. said the bud»

l6 PAGES

i

Business Expansion I Is Declared Theme

.than £320 a year pay no incom-

tax. A single person earnin —the nations pay £5 11 shill

small children will pay £17 1 shillings less than last year.

ABOLISH SPECIAL TAX

2. Abolition of the specia

property tax on all owneroccu

pied houses—~an unpopular ta:

applied to residential property

and based on rents or m

assessed rents where the ewe: occupied

the property. The

will the treasury

3. A reduction in inherItancr tax will exempt about 12.001 estates this year and lower tin cost to 17,000 others.

4. Tax incentives to industrle: locating in economically de pressed areas—Northern Eng land. Scotland, Wales am Northern lrcland. especially-— where unemployment this year Continued on Page 3 Col. 2)

Highlights

LON DON (Reuters i—nghs lights of today's 1963 British budget:

Direct, lax reliefs totaling £270.000.000 t$810,000,000).

A probable government . lrit of £71.000.000 ($213,000. 000).

Increases in personal tax exemptions for single people. 1 married couples and children. Lower income tax rates.

Abolition of property tax on all owner-occupied houses.

A reduction in inheritance

tax on some, estates.

Tax incentives to Industries

locating in economically - de- pressed areas of Britain.

A landlord's profit tax next year.

A warning of two possrble

‘ . ,. . . . ' his heseilglirgc: mhnddi'ilssdlsgfdtugt i FEAR PER?NIST15d h I lzti'wfgctive in mS‘ingtlzxpeI-rihenssi‘ "Mgrtaxes_: general tax on ~ . A ' ._‘ KAPUSKASING, Ont. (CPJ w The navy aunc e to revot‘ ' ~ .~ k - gam mg an a "urnover"

lthzhegggmgtfifie(“ggdas'ttmff {mt Lfiggsaigofigi’mu'fwenty settlers .were com- to remove Guido and canceiteaml'f‘g less than 51.20" “d ‘33 0" rel“ ll h'l-‘IHPSS "9‘ gm and pm 5" ing interference in the electionamitted for trial In hIglIcr court‘ electrons June 23 for a ncw‘méll'l‘lf‘d Mllllles 981111112 195! ccrpts.

‘P' _ ' ' ' by American magazines and de-;on charges of non-capital mun, presrdent and congress. he; _ .

,l‘emler wall?“ R; Shaw ending refusal to accept nuclegr'der as a prelImInary hearing navy fears followers of ex-drc- Y r Said the House Wlll adJOU'l'll f9? warheads for Canada's two bo- before Magistrate W. S. Gard- ‘ tator Juan D. Peron—control- s I the weekend after todays sIt- mam bases. iner ended here Wednesday. ‘ ling a third of the nation's voles. tings. According to the 50h‘ He spoke to about 500 in this" Charges of shooting with in- —will win and gain control of

British Papers Predict

Libera‘ party. descrrbed it as the "too-late. budget." Gi‘imond charged came too late to deal with the current loss of confidence in the governmch unemployment here this winter.

the proposed reforms

and the serious

George Woodcock. general

secretary of the 0.000.000-mem- ber

Tradcs Union Congress.

said the budget did not measure up to expectations.

He added. “There are. how- signs that at. last the

ry for forII'ard-lookrng. expan-

sionary policies."

spokrsman for the institute representing the

' ’ 1 sum not to exceed $500." expansion and followcd get “is based on realities. it -‘ Th9" amendment flll‘lhf‘l‘ over-cautious policies. should let industry off the states all such sums shall 82- Wilson argued that the anii- leash."

crue monthly and shall be paid unemployment measures now as and when the council shallradvocaied by Maudling would determine and no disqualifica have been just as effective a ' ‘tion shall result therefrom." year ago 'n preventing jobless- Promotcr of the bill was ncss.