git

' eign goods — which,

" “The British government

* ticipated by the end of 1966.

__ Grive is, sufficientiy”

‘year for Britain's economy:’

SPORTS-MINDED SEAL

‘A sports-minded seal in Van- makes with football tossed into his pool. The play- full creatures, perhaps missing

Still ‘Long |Way Io Go,’ |, Economy |"

For British

y HAROLD MORRISON: SONDON (CP)—Fresh doubts Britain will be able to eliminate _“temperary’’ 1 mt tar- iff surcharge this arose Prime Minister Wil-

i

a “make-or-break” period to sur-

‘we have still a long way. to |e go,” Wilson said. He described 1966. as ‘‘aa make-year or break-

One of the measures the La- bor administration imposed to curb Britain's appetite for for- along with

warned his countrymen they | 000

y- | ain may be forced to ask for an : extension 6f éxisting loans—or- [>

attention of public during the winter months, have been

!

spending hours each day toss.

3 | desi

By JAMES NELSON OTTAWA. (CP)—The way to miake a fortune, someone once said, is to find a need and fill it. But the enterprising soul who has found a and. starts out

ting started takes money. And money isn’t easy to find.

Over the years, the federal and provincial governments have set up agencies to help small businessmen get oan

‘llished and, once established,

expand their operations.’

But this isn’t done just to demonstrate the munificence of: governments and the generosity

funds. It's done more as a check and set of guidelities for the operation of normal, non-gov- ernment channels of finance.

The department of industry has. issued a 36-page booklet, Financing Canadian Industries, to help the new, small busidessman through the com- plexities of corporate commer-

{cial financing and some of the

sources of finance that are available through the federal and provincial governments—if he qualifies.

THE IMPORTANT POINT Qualifying i such help is the

New Booklet On Financing May Help Small Business

to fill it will also find that get- |

institutions % or government agen- exist where it is relatively dif- cies will provide all or most of ficult for medium-sized indus- the basic capital required for a|tries. in Camada to obtain business. venture,” the bookiet | their requirements from such Says- sources,” the booklet:-says. “In faet; the entrepreneur | “This: is particularly true

‘hi must. assume the bulk the case of projects ol oe an - jo the risk and does so by com- | dustrial development nature re- imitting his funds to the busi- quiring longer-term’ financing.’;

ness. If he does not have suf-; The booklet pon. outlines ficient-capital himself, he must facilities available "through the find another person or other Small Business Loans Act of persons. who will join him in| 1961 and the Industrial Develop- to|providing the requited amount ment Bank established in 1944.

of the taxpayers who put up the | provid

_ |DIFFICULT FOR SOME

of risk capital.

“As a general rule, for a new enterprise of unprovep charac- ter, it is safe to say-thpt it must | le from 50 to 8 per cent of the necessary funds in ‘the form of equity capital.” .

The booklet deals with equity and risk capital;. sole proprietor- ships, partnerships and ‘ncorpo- rated businesses; short-, me-

tal; oe facilities of the com- banks, trade credit, factoring companies, sales <fi- | mance companies, commercial finance companies and sinall- | loan companies operating under | the Small Loans. Act.

| “Although financial

dium- and long-term loan capi-| and the non-government)

It also outlines facilities pro- vided by the provinces—all ex- cept. British Columbia—either for general industrial develop- |ment or in Gertain specific areas {such as tourist accommodation.

Copies of the booklet are available from the eyperenent of industry here.

RESUMES TEACHING

ROME (AP)—Amintore Fan- fani, president. of the -United | |\Natios General. Assembly, | iwent back to school Tuesday. \The Italian foreign minister, ‘who- resigned last month in a |political storm over his role in

a \

2

|12-The Guardian, Charlottetown, Thurs. Jan. 18, 1968. Car Loadings

CLC Proposes Firm Limit On Spending In Elections

OTTAWA (CP)—A firm limit, The congress said it believes campaign spending |the 30-cent limit would provide | proposéd by: the |sufficient funds for each party “Labor Congress in a

com-

Ai

especially if the free broadcast and ere!

uth

a ‘voler. with ~ halt | i abo "restrict the op-

to each | portunity. of a well-funded caret |

and half | to swamp its opponents through | ‘the sheer—volume—of. its propa-

constituency of 50,000. ganda.”

xample, the can-| The CLC, an active backer of

ie

amount,” a brief to the com- mittée’ said. : five - man committee,

| Other recommendations in the

( were: _ Detergents, Liquid Full public disclosure — of political contributions over $100: 2. Tax exemptions for all political contributions.

a later-disavowed Hanoi peace feeler, teaches three classes a week in economic history at the

justitu- , University of Rome. He inter. didate.

3.. Free broadcast time and. postal distribution’ for each can- |

4. Official recognition ot. po-

| Show Increase

to’ put its case before the voter, |

services were |

e have a budget of | the New Democratic Party, also |

{N STOCK—Complete line of industrial Waxes, Disinfectants, Sanitizing Agents,

~ QUALITY PRODUCTS and | »,. VERY REASONABLY PRICED.

EASY CLEANING SUPPLIES

OTTAWA (CP)—A- seven-per- | cent increase in the number of railway cars loaded. with rev- enue freight during December brought the total for 1965 to 3,980,793, an, increase of 1.3 per cent over 1964. , The Dominion Bureau of Sta- «| Sates reported Wednesday that

93,595 cars ‘were loaded in the ‘last 10 days of December, an | \increase of 66 percent from | the same period of 1964. ~ December carloadings |beréd 326,645.

MOTOR REWINDING Mae tS

coum

|

soaps, etc.

Such a prospect would stir a— new currency crisis and fresh : talk of. devaluation. Britain must begin repayment next year on part of its huge internationa! borréwings of some £1,000,000, ($3,000,000,000) usedeto bol ster its currency. If* earning: through a trade sutplus o through the attraction of foreigr capital do not materialize, Brit

apply for new longer-term loan: to pay off the old ones. : The International Monetary Fund, the major creditor, would | be forced to take a hard look at Britain's economy before new loans could be granted. Economics Minister George Brown has established machin- ery to restrain prices and wages but, despite his efforts, average wages in Britain are reported

straggling exports, had .contrib- uted to the huge deficit was a tariff surcharge

de- | nied it intended to use the

higher rates as a wall ‘otect British industry ag foreign competition and hi ey her international payments—an-

Now. there is doubt in. White- halt whether Britain's export

match anticipated imports this

year and some officials predict ere will bé another deficit in ‘and perhaps even in 1967.

jcent while the volume of produc-

to have outstripped productivity in 1965, rising by some eight per

\tion stagnated.

Wilson told unions Monday they must rid themselves of: the idea that the national effort ‘in production and exports is a role for management only.

No government: could think of relaxing the economy until the international payments problem ° is overcome, he said. British

“pre: dicted a chilly spring budget with no thaw in current high tion, high. interest potes and credit curbs.

Railways Charge Shippers

Frustrate Effici

By BEN WARD “OTTAWA (CP)—The railways angued efforts to achieve better Wilization of freight cars are béing frustrated by shippers

who delay unloading, often. deli-

berately, to get cheap storage space.

That was the main argument | as the board of transport com- Missioners opened public hear-

—{ngs ona railway proposal for |

sharp increases in demurrage | rates — the penalties shippers |

must_pay for ee freight | cars Sayed the two-day - free | period, ‘

About 20 representatives of shippers’. organizations attended to protest. Their. side will be heard today.

‘“Demurrage rates now are $4| @.ear for each of the first four days of delay beyond the two- day allowance. For fifth and Stbsequent days the rate is $8.

The railways want $5 for each of the first four days, $10 for the next four and $15 a day after that. Similar penalty | rates were introduced by ' U.S, ratlways last summer,

SUSPENDED BY. BOARD .The new charges were sched- uled to start in Canada Oct. 1,.|

‘but were suspended_by a board |

order after shippers complained.

Railway. witnesses said Tues- day the tendency of shippers to retain cars beyond the two-day period has grown alarmingly in

ency Plans

For that reason, the Winnipeg | chamber recommended that the board disallow any increase in

penalties for the first four days .

of car delay. But if this was not acceptable, the. increase should be: applied only in East- fern Canada.

The Winnipeg brief also™asked |for ‘a full board investigation to |identify demurrage problem |areas and tailor the charges to the offenders.

Bankruptcy Figures Said

TORONTO (GP) Bank- ruptcies in Canada will reach a ‘‘staggering’’ $500,000,000 for 1965 when all figures are avail- able, |of the Canadian Oredit -Men's orn said Tuesday.

“The latest figures are shock- ling,’ he said in an interview. “We need tougher legislation to curb them,” | Figures released_—last —Thurs- day showed bankruptcies in the first nine ‘months of 1965+ to- talled $338,000,000.,in 1964 bank- ruptcies were. $207,971,000, up $14,000,000 from 1963. =

Pn nce

Staggering |

Percy Houghton, manager *

fecent years, In 1964 an average.!...Mr. Houghton said $100,000,- of 3,008 cars a month, came un- | 000 in bankruptcies would stenr der demurrage penalties. For from the failure last year of

important po tions in the priv sector’con- rupted his teaching last fall | ing the ball about. “Many a. have the mus-|atitute the ee source of when he was elected president litical parties under the Canada| 79 a 1 Street Phone 4-3751 (CP Wirephoto) ‘taken impression that. financial funds for business situations ‘of the UN General Assembly. | Eelections oe eS BAe res rene a= ccrecemanee snrenasennne oo 2 b ® + = co enj ; ; joy i kK 5 . a is orient cole a WE Bich oa SB ac yr segs amperes = = oo es rae s eee ee

fe “excitement

the. first..10..months...of .1965_ the. |

spinal

Ate

-wverage jumped to 4,165.

-Total charges ‘n° 1965 were | more than $5,000,000.»

Figures presénted _ by GNR | and CPR witnesses showed the average freight car brings in gross revenue of $15.80 a day.:

G. M. Greenbury of the. ' afid V. G. Smart of. the-

‘told of recurring car shortages, blaming shippers for much of

. the difficulty,

SAYS PROBLEM IN EAST : V. M..Stechishin and Evan McCormick” of “the~ Winnipeg ’ beret cctores the real ‘lies with shippers who

hold cars for a week or more,

| Atlantic. tion.

FORECASTS RECORD “When completed figures for '1965 are published in Merch or |April they will undoubtedly be |twice those for any previous. year in Canada’s “history.”

In the nine-month period, On- ‘tario led all provinces’ with bankruptcies ‘costing $240,484.- 000, Quebec was next with $76,- 618,000,

Acceptance’ Corpora: |

» Mr. Houghton sgaid_ federal - and “provincial governments , must introduce “sensible legis- lation” to curb bankruptcies. The. federal government should establish a special investiga- tions branch because some | fraudulent bankruptcies _ were | epread over several provinces, |

tr teererereseei

Se

4

There's something especially exhitarating. about driving a '66 Caprice. It’s hard to pin down, but it’s there. You'll know what we mean the moment ‘you slip into one of those tall, tapered Strato- bucket seats and let your right hand rest on the

console-mounted stick. Your eyes flick over the

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