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12 The Guardian, Charlottetown, Wed., Nov. 24, 1965.

Copper Firms Accept

Latest U.$. Gov t Moves:

termination to spend, the Do- minion Bureau of Statistics re- ported that at the end of Au- gust the amount of consumer credit outstanding on the books of major firms was $5,506,000,- 000 compared with $4,723,000,- 000 a year earlier.

By KEN SMITH

Canadian Press Business Editor appeared \ to accept the latest United moves in

Copper producers

States government meta] prices much more cheer-

fully than aluminum makers

The U.S. announced last. week # is releasing 200.000 tons of eurplus copper from its stock-

pile, on grounds the world cop- per supply situation threatens a

serious disruption that coud develop into strong inflationary pressures :

A week earlier a similar move by the US. government hed forced aluminum producers —including Aluminium Ltd. of Montreal—to cance) a price in- crease for their metal.

The government's move on copper also led producers to re- scind a two - cent - a - pound increase they had tacked on last month. But they insisted they were able to do it without dif-

ficulty since the raise had been made only to try to rationalize

the supply-demand situation. Although there was no. im-

mediate comment from major Canadian producers, Phelps Dodge Corp. said in New York ft welcomed the U.S. govern- ment decision since: the addition

tal was badly needed by indus- try One __metal

per prices WON’T AFFECT DEMAND He said the U.S. stockpile re- Jease does not appear large enough to have any sharp. ef- fect on prices in view of the strong demand, and added that

a major concern for the indus-

try has been the possibility that pressures on would force prices up to the stage where industry would turn to aluminum or plastics as

stitutes wherever” possible.

finilar thoughts were ex-_

pressed by the brokerage house of A. E. Osler Co- Litd., which said in a customers’ letter: “The effect of placing 200,000 tons of copper on the market in

the United States will, we be- lieve, be entirely psychological —200,000 tons is hardly enotigh metal to have any genuine last- ing effect on the price struc- ture ”

industry spokes- man said in Toronto that copper producers could be expected to applaud any government move that would tend to stabilize cop-

copper supplies |

The Immediate key to what

«happens to: copper prices, sev-

eral observers said, rests with the political and: labor — situa- tions in Africa and South Amer- ica, major areas in world pro- duction. FARMS HIT HIGH

Elsewhere on the business scene, the Canadian Imperial Bank of Commerce reports in

its_monthly commercial’ letter |__ Be that the total cash income of | Unlimited again next summer.

Canada’s farmérs reached a record $1,730,000.000 in the first six months of this year.

Tt was the fourth straight

year farm cash income reached |

record heights during that pe- riod and, with receipts continu- Ing at a good rate, ‘‘farm cash income for the full year is ex- pected to he at a high, if not record, level.”

The letter also comments on what it calls a “significant de- velopment” in Canadian agri-

tulture—the growth of farm marketing boards. "In Saskatchewan, about

four-fifths of farm cash income is from products | marketed through agricultural marketing boards,” it says.

“In Alberta Manitoba Ontario the proportion is about half; in British Columbia and Prince Edward Island, about two-fifths; in Nova Scotia and New Brunswick, close to one- third; and in Quebec the pro- portion is about one-fifth.”

The Maclean Hunter Re- search Bureau reports con- sumers still are in a buying

frame of mind, with more peo- ple planning to purchase cars or major household appliances than a year ago.

In its regular quarterly, study |

of buying intentions. based on interviews with 1.006 persons, the bureau says people are opti- ‘mistic about their financial sit- uation COMPACT SALES SOAR

One surprising finding in con- nection with cat-purchase plans was a gain in popularity of compact models—21.9 per cent of those planning to buy a new ear will be looking for a com- pact, compared with only 11 per cent a year azo

Featuring six ste,

| Led., Truro, N. S.

‘Unlimited e group of partners j —with each member collecting for his own work and paying Gibbs and Brewin for book-] keeping and providing ..equip- ment—such as lawnmowers and ] - ladders.

The bureau also reported that

retail sales in the first nine months of this year totalled $15,449,260,000, an increase of 6.3 per cent from the similar 1964 period.

Gains were recorded in al! 18

lines of retail business covered ‘in the bureau’s survey.

The spending spree is help-

ing fill the government coffers. An Ottawa report shows sales- tax revenues in the six months from April 1 to Sept. 30 rose 15.7 per cent to $659,900,000 last year, compared with a gov- ernment forecast last spring of an eight-per-cent increase.

lots profit. And they may even end | jup with a few efforts.

\daunted by the trials \troubles of the business world. |

Plenty Work But No Pay, Students Find

VANCOUVER (CP)—AH work

and no pay—that’s how it ended —but ambitious planned it:

it wasn’t the two

university Brian Gibbs and Pete Brewin,

way

students at the University of British Columbia, or ganized Help _ Unlimited, firm with paid student employ- ees who did odd jobs during the \summer.

a_ contracting

They ended the summer with of experience — but no

losses for their The work agency provided

|jobs for more than 30 students all summer. They did painting, baby-sitting, lawn-mowing and clean-up ;

‘labor said they had no legal inight to operate as a contrac- itor, and forced them to take | out a licence as an employment

agency. And Paddy Neale, secretary of the Vancouver Labor Coun- cil, charged the students with exploiting other students and | undercutting tradesmen

The students then made Help

But the two students are un- and

Both say they’ll operate Help

Oe el Ra nat, tenet © Stan: hp Ge eH IE

©

Yugoslavia Buys American Wheat

BELGRADE (AP)—An agree- | -ment on Sale of 700,000 tons of ‘American wheat to Yugoslavia” | has been signed here.

E. Burke Elbrick, U.S. am-

bassador in Belgrade, and Srdja

'Prica, ambassador in the Yugo-

and

THE ALL BREED HORSE © SALE Truro Fair Building Friday, Nov. 26th — 1 p.m. cently purchased 1. .1¢ Blooded Horse | Sate, Delaware, U.S.A. by the Jollity

Horsemen's Ciub Ltd. Sale managed by the N. S. Animal Breeders Co-operative

slave foreig, ministry, the agreement valued at $45,- 889,000, including part of trans- | port costs. Payments will be | made ‘in U,S. dollars in 12 an- instalments, commencing | two years after the shipment has been made.

nual

signed

QUEEN OWNS TIMBER

About 4,000,000 cords of tim- | ber are cut on Ontario crown lands every year.

Call us for programs, club bulletins, busi- ness letterheads. All work guaranteed.

GUARDIAN - PATRIOT

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Phone 4-8506

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