MONTREAL (Special! — Can- ada's dynamic growth pros- pects point up the importance of adopting many of the recom- mendations of the Royal Com- mission on Banking and Fin- ance. according to G Arnod Hart. president and chief execu-

.—

Canada’s Growth Indicates Need For Adopting Recommendations

ter provision of 318.211.471 for income taxes. were also at a new record. 1

Mr. Mulholland noted record“ activity in the bank's interna- tional business during the year. and that Barclays Bank QC, had become a third equal part-

Montreal‘s international ganization now offices. 18 of which are the bank‘s own and the remainder. branches of 8 AM.

Reporting on the progress and development of the Bank of Montreal's electronic data

tive officer of the Bank of Mon- ner. With the Bank of Mont-

' real and the Bank of London

and South America. in the

Bank of London and Montreal.

operating in the Caribbean and Latin America.

He added that the Bank

processing facilities. Mr. Mul- liolland recalled that “Genie centres" had been opened in Toronto and Vancouver this year. following the opening of the original installation in Mon- treat in 1963.

ISLAND NEWS PAGE

Western And Central Districts The Guardian. Charlottetown. Tues, Dec. 8. 1964. 3 l

WEATHER

in the evening; extremely cold; ,li'il‘ll winds. Low-high at Syd- TORONTO tCP) — Tem e'i-n-L report tures: p

Mr. Hart told the bank's 147th annual meeting yesterday that the opportunities which the re- visions of the Bank Act are likely to open up are now es- pecially important.

Commenting on the possibil~ ity of removal of the present six per cent limit on interest rates and the restrictions against the banks' paricipation in the mort- gage market he said. “a more competitive. broader and more ﬂexible range of lending rates an . eposit rates as we] ."- could be expected. the whole being more responsive to market influences. $4.6 BILLION ASSETS

Sharholders also heard R. I). Mulholland. vice-president and chief general manager.

ney and Charottetown B and 2o. Outlook for Wednesday i cloudy; intermittent show very ~

Min. Maxn id

the bank to Oct. 31. With assets , . ' co .- . i at a new high of $4.688 mimom Dawson . . . . . . . .. . - 2 ' ‘ High tide today at Charlotte.l

Mr. Hart said that with avail- PM“ nge 16 39 :town 12.21 am. and 2.11 pm. At. V l ability of mortgage security vimcouver ' ' ‘ ‘ 33 46 ‘RUSHCO at 7.55 D-m~ Summer :. _ - ». ,. V . “the banks will be able to broa: Ejewri? '- ' ' ‘ ‘ ' - - ' -- 4: :3 :side tide eighteen minutes later‘ » ». .4. ~i ‘ . e—----i den their lending activities to “10" on jthan Charlottetown- meet the requirements to bor- Calgary " 33 ‘ rowers who must now look else- 3,931“ 17 '23 What? for their ﬁnancmg and T3331?“ n 14 29 l A small one-storey home afternoon. The house is situat- front room had seen the blaze. Whom many cases are at pre- 0 ' - ‘ « . ed in Wilmot and Mr. Mao He added that there was in-

' - Ottawa - 7 10 2 owned by Len MacAithur and sent paying rates. outSide the . . home at the g , _ .1 H g b m . .. Montreal . 0 12 . I I . - d b M ‘1 (Arthur Arthur ‘ ho “35 suranu on the hillJ‘llIlA. HPl. higheilg ththtig‘éy iiﬁ'i‘ificanély Quebec ' - 5 1 ‘ “up” y ‘ r' ‘ a ‘ time. said he didn't know how c n- ‘

. . . . arid Ram‘in CUlliga" " two the fire started but one M “w bummm‘uldp me. . ceivably pay Within it."

l 1 5 17 l I - n looks into the hla7in4 - 9 18 elderly men — was complete- ha eard some crackling and "‘9‘ 4 - _ ' a seizlggssﬁgfeogviggdéged 23:?- M 3 17 ly destroyed by fire yesterday upon opening the door to the budding before it collapsed to ': petition in banking would be 13 23 I I I . _ I 1 determine the extent of the ~ stimulated. he observed. adding 17 20 to the Justice department. 'the, fir . “ﬂ. that the Bank of Montreal's ma- 5 d BOSTON (APi—Thousands of belogv 2‘?on 0X1:- Hegd.kN.Y. RCMP then was called in. l—_ ‘ . . . "or Iendin a ti 't id . - in t e . or ern iron ac s. . . y ‘ U'S‘ 0"“ Delegate Adlai he hoped ‘t was more pro‘ linue to sgerv: Y'ltllle tart-£321 24 32 homesMgedrjy Z‘s‘hgulhgfjlng New York Governor Nelson iContinued from Page 1i ‘ Bng' A113" “:5 “mange: E' Stevetnson iiignrsnigihall‘: Paganda than DOIiCY mid borrowing needs of industry. 14 24 gfipped the northeast section of A. Rockefeller said “we've hadi was senior~ military adviser DEC. 21 when 8 appea e “Sims mm dd I termed It ‘ “harm com w" agricum’re and mdiVidualsu' ~ 22 the United States on the heels ice storms before. but none ha3 l the Callahan, millleer 0f_ Uh :c0urt Monday. ‘ her. seat to. theme. "SSA: talk " This candid photo stressing the bank's increas- M311“ - - - - - - -- - 59 74 of snow and ice smtmt been 3.5 had as this .International Truce Supervisory - Schlet Foreign nster - - - ing decentralization of respon- New Orleans 35 51 . v _ In New England. up to 1n;Commissmns in Indochina. NW .nd then everybody gets a :V drei A. Gromyko at yester- made by AP Photographer . .. M H t .d th h] Tucson r _ ' . _ 46 60 Ten [raffle deaths here my _ “medmuvtulmz'md mu 0 I day's united Nations General Harry Harris. inbuilt» I01‘."tl‘lar :dti‘on :fwwltia‘l L05 Angeles i - - - 47 66 Corded in New England and mqhe.s 0f snow {en- sundélv l WAS lN WASHlNGTON , . ' bothered by backache-s. Perhaps notli- Asst-mth session. He said (AP Wirephoto) Pen effect: c regional head three deaths in New York state bringing the accumulation toad}! Between huh.’ 1958~ and who Pal“ in! miomly won" jun a (mummy :ffices in various geographical HALIFAX (CF) _- The wea‘ were attributed to the storm‘ mohesf 1]“ Old ngné Mi flail he Was ch'ef of Staff of the .Ca‘ After 21 twice Bilmgnycggggg gig? ‘ conditioncausedby urinaryirritationor I areas." As a result. he contin- :kh.” (ﬁle: “ﬁgs”? Clear SCheneCtady' N'Y' reported :22: bﬁtlstihgiliis ien loriler \tiliciitigyan Army “a” m wasmng’ fill-ehtia'iigii 35%: belazitirmﬁeuéiciohighg {iladdﬁz‘ﬁsco‘r‘ngomsdl'lfiﬁellg tea on a l r , em ‘ra~ _ v . ‘ . ‘ Co . To auic y co _ a i ney . h l 91?] tures in NewyBrHHSWiCk has; al' 33%esMa‘SvseaxCeh uagictuldi lgan prompwd hazardous er-‘i UP um“ that time. he hail all]; 1351333331“:giddggrlllglggtibﬁ; ‘ slineiulnte the kidneys to relieve this V i being authorized by 10cm man. ready dipped to "93“ 01' below houses were hit by power fail- in: warnings- One 10 “"90. been director of ordnance SQI‘V» urttakinxnahgstgigzl you £33m: .condition which may choir-thew" hl‘f‘li'l ' I agers or at the six regional zero. variable amounts “f Cloud urES. nearly half Of them in the men“ was “peeled ’. ic s at army headquarters here 2 hm gym “we. whit;ng of ache and tirehd .f‘eeling. k as? 5:! headquarters across the coun- and 8 few lingering SHOWHUT- Worcester area. It rained in western Orcgon.l The case from which the :zgggaggioﬁx‘f‘wgn “’l‘ﬂlﬁoein 35.13:» km? epfl'l' 3?; wklénhe _‘ 4 ries were reporte in Prince h l .r 109d Washington and extreme South charges arose was originally painrelieverforRheumaternins Head- 0 I iney ll . d! r). Edw d I 1 d d N Sc t' Many SC 005 “e e c s T b 1 mt f the u: hadl hve “gated h. the defence dc eche.ancksciie.and muse rotunan blue box with the red band it all. u: S mama‘SE émEmCTED Mr Temgzratifel; 3‘“ thezzaprg‘dgl While some sefwedh as (ﬁrmer. sifiaii‘sahsineu m 0 lhartfnent whibch turned it over W mm “wwwbmu “n ‘counlerl.YoucandependonDodda.eo ‘1 e “3 0‘” 900'“)in - ' gericy centres or t ose iven - - 7“ Hart noted that the 1964 gross Ce! were mostly in the teem lfmm their homes_

MONTAGUE DH. Coffin was welcomed back to the Montague brigade at the regular monthly meeting held last ercniiiu, Since the previous meeiiii: Chief Coffin had been confined to hospital for treat- ment and had only returned to work yesterday.

Tun new members were tak-i

en on strength to bring the bri- glide up to the normal amount of 23 Ralph Annear and Ger-

Presbyterian Charge Has Induction

KENSINGTON—Rev. George R. Taniiahill. BA. BD. was in-

diicied into the Kenslugion Presbyterian change Tuesday evening.

Rein Leslie Files of New Lon don preached the sermon, and the charge to the congregation Was ,L'lVf‘n by Rev. Peter Rud- . Hunter River. Rev. aid Nicholson, Belfast, ’ gaVe ihc charge to the minister. and ROY. Carl Currie. moderator of Presbytery. officiated at the tu- duciion service,

A telegram from Rev. and Mrs. Ell. Bean. Sydney. N.S-. and formerly of Kensington. was read to the minister and congregation.

. large congregation the three churches. Kensinii- ton. Freetown and Malpeqne, attended. and a fellowship hour was held in the Lower Hall after the service.

“ DEATH NOTICES Received too late for Classified death notice column

from

'nine applicants.

1 Matters discussed during the? “a Very.g°°d rate 0‘ meeting were access to the river‘ at any “me' but even more 1" in case of fire. the leaking water some changes to assure the equip-

during or following a storm tank. snow removal, and

.ment was fully operative. Al

eighth annual Christmas tree,

successful social evenings in a long time. .

A new project is to be taken on by the brigade. 11115 is to be in the form of stickers with the fire emergency num them. These could be placed on the telephone where residents could see it each time they used the phone. It was pointed out that everyone then in a very short time would have memor- ized the number.

In his report Chief Coffin men- tioned in passing that only two fires of a serious nature had oc- curred during the year and all should keep their fingers cross- ed so that nothing of a serious nature would occur during the holiday season.

0 B

an Nelson and his crew were complimented for a good job done on erecting the Christ- mas tree at the museum. it was noted that this was at least the

Since the last meeting a card play was held for members of the brigade and this party is bee considered to be one of the most

national product might well be

Fire Chief‘ard Murphy were selected fromi .Si" per cent more than ‘" 1963

.in real terms. This would be.

increase

markable in view of the length of the current advance."

The current business expan- sion has been “remarkably well-behaved" and although there has been a continued mod- est increase in consumer prices. wholesale prices on the aver- age have shown little tendency to rise. he continued. However. Mr. Hart noted that unemploy- ment is still a major problem in some parts of 'the country and that not much headway has

n made in correcting 'the heavy imbalance in our inter- national trading position.

For the future. he comment- ed that ”if we can keep our pr0< indications are stronger than average growth will prevail at least until well in the 1970' ."

Mr. Hart concluded. "All in all I find it very easy to get excited about Canada‘s growth prospects and there is certainly enough going on these days to

indicate that many others share this feeling. In such an atmosphere . . . there will be

unequalled opportunities in the years ahead for expansion and development."

Mr. Mulholland reported re- cord year-end loans and depos- its of $2.729 million and $4.340 million. respectively.

WESTERN— BRIEFS

the 1963 figure. passing $2 billion for the first time.

Net earnings of “7.854.883. af- m

PARTY’S RANK

(Continued from Page ii control of the Canadian Parlia- ment and legislatures.

ERECTING HOUSES Bruce Carruthers. Cascum-

MACDONALD — At Kings County Memorial Hospital on 7 Capt. Alemnde

c. . 1964. Macdonald of Montague, 'fon

0“ W ne ay. Dec. 9. at 2 pm. Inlerme Cardlsan cemete

annnar'r —. At her resid- :ncfwlﬂngston. Sunday. Dec-

pec. contractor is engaged in Tryn Valley where he is com- pleting two houses.

WEEKS FUNERAL - The fu- neral for John 1!. Weeks was held Thursday afternoon from Pleasant Valley United (hutch where the service was conduc- ted by his pastor, Rev. ’1‘. G. Evans. Honorary pallbearers were members of the session. Harry Weeks. Frank Cutcllffe and Nelson Matbeson. Pallbear- ers were Percy Boyle. Heber- Myers. Boyd Weeks. Raymond W . John Craswell and Wendell Cruwell. Flower bear- ers were venetit McLel Stirling Parsons. Ray Smith and Hugh MacKinnon, Burial was Fredericton cemetery where

b r-

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“Dying Too Soon” or

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‘ Vet-ale .V-HVA- l I (W’tu’fg' ' /

Rev. Ralph MacCaull “stated It

M e a n wii 1 1 e. Conservative sources indicated the party's list of flag speakers is dwin- tiling rapidly.

_ House Leader Gordon Church- ill (Winnipeg South Centre) said the debate would continue Mon- day but after that “the situa- tion is fluid."

Churches. ‘

An area of high pressure will fire houses and other places

of!

move over the Maritimes from also were opened for emergency mostly use and cooking facilities were

sunny but extremely cold wea- provided.

Quebec today. giving ther. A weak disturbance over the Great Lakes will approach the district late today. spread- ing snow into the three provin- ces. The snow will begin in New Brunswick and Western Nova Scotia in the evening and reach the eastern regions by this evening.

The disturbance will move out of the Maritimes Wednes- day. leaving cloudy skies and cold temperatures.

Regional forecasts:

Cape Breton. Prince Edward Island: Mostly sunny becoming cloudy with a few snowflurries

l The mercury plunged to 10‘

l i

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Diefeiibaker. who has been absent from the Commons since last Wednesday nursing a

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