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_ Money Supply In The U.S...
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George Lincoln Rockwell, eommander of the Ameérican Nazi party, addresses a rally
Tightens Up A
JOSEPH R> COYNE
(AP) — The picture tightened another notch during —the last week and the outlook is —for more /of the same, at least in
By WASHINGTON tight money
_ the immediate future
‘
Interest rates—the price bor-
-: Towers pay for*money—now are
’ posals are designed mainly
A spokesman sai 5 OA: iin vole Fi leone wee in from the yard neglected to ration n dleasure, the hook: th Sh : sincere efforts of the government [4 1e screen door. She wen on the ‘matter of having the free !79 the living room to watch school books ready for 1966-67 'elevision shortly before 7:00 school. vear pm. leaving her purse in the
Registration far the ronven. kitchen tion will com af £30 am. At about 7:10 she said her mo- and the conven il open at ther brought her purse to her 9.15 am ne the eve. and upon examination she found ninz with at Sneaker f session will Include... EE Ales Campbell —— i NOTICE premier 0 nce- Hon. J i Elmer Bienct minister of labor, Mayor Walter «Cox: and | other-invited guests. E, McCabe | will speak on the Canada Pen- sion’ Plan ! eee There wil! also be three: stu- dents. attending the«Convention
at record or near record levels and- pressure for further in- creases will undoubtedly inten- sify. before easing up. A -cor bination of factors- will make September. a key month.
The Johnson - administration, at- this
governmeritsdurce said such’a , Switch in policy might do more harm-than good considering the delicate- nature of the problem.
But the door has been left open for a possible tax increase, partly to help pay for the ~is- ing casts of the war in Viet Nam, 40 cover extra appropria- tions voted by Congress, and to help dampen inflation by. cut- ~ting off some of the consumer demand for-goods and _ servicés- ~“Tt's still an open question," one administration source said “Saturday in emphasizing that no _decisions have yet been made. MONEY: NEEDED
A request to Congress for a tax increase, however, is more likely to come next January, if i comes at all, when the ad- ministration is expected to seek Mote moneypossibly’ between $5,000.000.000. - and — $6,000,000,000 —for the war in Viet Nam,
For the immediate future, the administration
Congress to limit interest rates beyond what it has al- ready proposed. And these pro- to make more money available to the home mortgage market. Some members of the Federal Reserve Board, which has re- peatedly tightened credit over he last few months as an anti- inflationary measure, have pub- licly urged the administration to seek a tax increase to dampen inflation, contending tight money ig*being asked to carry too much of the burden. Ss» One administration source Sad the federal reserve, in Ehtening the money picture, is convinced that any would not result in greater out- put but only\in higher prices— im other words, inflation High interest rates are only a evmptom of inflation pressures
Federation Convention.
Is Scheduled -
The Basilica Recreation Cen- tre will be headcuarters for the Prince. Ecward Island Federa tion of bor’ Convention and Banquet. September 17th
Resolutions. -nf-interest to-all Islanders. Will he introduted as well as the report of the vears activities of the Executive Coun
-com- |
npint, plans ‘no drastic_
- moves to roll-back, rates. One| ioidac’ remeaed” ti
was - reported | planning no further request to!
loosening |
Pk | _— KWELL ADDRESSES NAZI RALLY
in Marquette Park today. The area was scene of intense racial violence earlier this
a nother Notch —
other law | y | ear
becatise money, just as commodities, reacts to the of supply and demand. The actual amount of mone [in circulation has risen this y: but the demand for it has.
en faster. especially to f- |discovered the envelope missing 2" : Ex * pur- |and-called the police again to \Band are to perform im Sum-
nance record business chases of plant and equipment | which are expected -to -exceed $6,000,000,000 during 1966, |IS OPPOSED ommended -suspending the seven-per-cent investment tax credit on new equipment to lessen demand in this area but Treasury Secre 2 Henry H. opposition
to this approach only last week +—after-commercia! banks
raised their prime interest rates for the fourth time _ since _ December:
This. is the interest rate granted to a. bank's best cus- tomers, ‘usually large. corpora- tions. It has risen from 4'2 per cent-last December to the pres- ent six pér cent, a 33 1-3 per cent increase.’ Other interest rates are scaled ‘the prime rate.
Legislation now pending —in congress to help the hard-hit home building industry won't bring over - all interest rates down. At least one bill would place more. pressure on them.
The measure most likely to- win approval would permit the Federal National Mortgage As- sociation, Fannie Mae as_ the agency is called, to pump about , $3,750,000,000 into the mortgage ; market.
But Fanme. Mae would get this money by selling deben- tures and short-term notes. and by borrowing from the treasury. This means the pressyres on in- | terest rates would increase
C. A. Smith Is Remanded
Craig Andrew Smith, | Wiltshire. appeared before city magistrate, A.J. Haslam, GC, lin city police court’ Saturday morning on a charge of having possession of stolen goods valued in the excess of $50
The accused was found in the possession of a diamond set wed- ding band belonging to Mrs, Joyce: Pert of Montreal, who is visiting in Charlottetown at: the home of her parents, Mr. and Mrs. George Cooper, 261 Graf- ton Street. :
The crown attorney is John P Nicholson, QC. and Mr. Smith's
attorney is Charles R. Mac-' Quaid, QC e City Magistrate. A.J. Haslam:
QC. heard the evidence of Mrs. Pert this morning
Mrs. Pert testified that on Thursday, Acgust 11 she return- | ed to 261 Grafton Street from. up- town and went immediately to | the kitchen of the semi-detached residence to have dinner, which was ready . After: dinner she helped with the dishes and took some clothes off the clothesline’ in the. backyard and‘ on coming
t wen Canada-—throuch-+he Columbo Training Plan. The three students ahe from the three following countries: Korea, Africa and Kenya The Federa-
‘
* tion will be taking these students
®
on a sight seeing tour of some of the Islands .industries.
Will, be catering to
Telephone Hunter R
jher wallet, containing a sum of money and personal papers and a brown envelope which had con
Chat pN - U - Restaurant
_ NORTH WINSEOE
and banquets beginning September 1st.
|
Island News Page
2 ~The Guardian, Charlottetown, Mon. ,Aug. 22, 1966: To Hospita
Safety Classes
‘Are Concluded
Water Safety Olasses have} |peen tested recently-in West. ern P.E.1, by suupervisor Earl Foster. The following are the* resylts: :
Huriter River and New. Glas- gow =
Beginners Stephen Dickie- ison’ Brenda Bernard. Retty ‘Knox, Wayne Ripley. Nancy Hooper, Beatrice Raynor, Paul Stewart, Gary Stewart, Tommy
\Gass. Ricky Gass, Linda Court, iNaney Ghaney, Florence Carew, Wendy Ripley: Leona Gass
| Junior — Garth Green, Steven 'Knox, Terry McGrath, Tommy Gass, Ricky Gass, Pau! Stewart, Rilla Ellis, Leona Gass. Helen Frizzell, Sandra Michael. Sharon Michael, Elizabeth Pound: Joyce ‘Bernard, Barbara Ann Howatt
Intermediate Della Row- ledge
Senior — Charles Sellar, Tony , Howatt
The chairmen were Mrs
Lloyd Carew. and Mrs. Foster Sellar while the instructors were~
~ , |Mary Elien Booth and Marilyn
summer. As he finished speak-
ing a thunderstorm dispersed
crowd of 1,500 white persons. ‘(AP Wirephoto)
‘tained her wedding band, en- gagement ring and,a sum of Auwerican money tiissing Her
parents, she said, bad been sit ting out.in front of the house. She Said that she immediately notic- ed that the wallet was gone. and called the police; but it was about a half- hour before she
report thts
The only thing that she has seen since, she said. was the wedding ring, found in Smith's
hibit ‘‘A’’.
Mrs. Pert was cross-examin- ed by Mr MacQuaid :
After hearing the= ‘evidence. Magistrate Haslam remanded the accused until August 23,. to set date for. hearing
Gerald” MacKay of Murray River. was-fined $20 and costs on
last a disorderly conduct charge.’ on ,
complaint _ of -city restaurant owner, Walter Lee And James Francis Garland of Millview. was » given $30 and costs)or 30 diys. after pleading guilty to a simil- ar charge. x ‘ Seven persons appeared _in
|Police Court this morning on
upward from charges of being-drunk—and—in-~
capable and one on a charge of illegal possession of liquor.
Two Vehicles In Collision
A’ passenger in a Jate model ear received minor injuries in a two car collision. at the cor- ner of Fitzroy and Cumberland Street Friday night. She was released after examination at the ‘Charlottetown. Hospital
The passenger, . Peggy Dougall. police said was injur- ed slightly when a 1962 Studebak- er driven by Patricia MacDou- gall, Kinkora, was involved in a crash with a 1965 Valiant operat- ed by Richard Rogers, 60 Good- will Avenue B
4 motor bike operator escaped injury but his cycle sustained an estimated $235 in damages when
‘North it collided with a 1959 Ford |
driven by .Neil R. MacNevin of 11 St. Peters Road. The collision occurred Friday afternoon short- ¥ after one o'clock at the corner
of Hillsboro and Euston streets. Shire gave a special concert in |,
There was no estimate of dam- age to the automobile.
ORGANIZE SOUVENIRS TIMMINS. Ont. (CP) chamber of commerce is giving away specimens of gold-bearing ore to visitors to stop them from chipping away at the 15-ton ore display outside the city. Tour- ists collected more than a ton of samples from the chamber’s office in three weeks.
We Trade * Furniture
* Televisions * Appliances
FIRESTONE
Home and “Auto
Ltd. Oial 4-5
wes
BAT
wedding receptions
iver 73-4.
‘" Senior -
Mae- |
* (Carew
-Newton:
Beginners — Paul~ Mclver, Gregory McKenna, Brian Mur- phy, Diane Murphy, Marilyn Peters.. Norbert Peters, Ray- mond Postma.
Juniors — Bernard Postma.
Intermediate — Clifford Mc- Cabe : fk David Smith.
Estevan Band Is Scheduled
To Perform
SUMMERSIDE — The Estev- | ~ (Saskitchewan)"
jmerside this evening at 7.30
| The concért is to be held in jfront of the Civic Auditorium land the stréet. will be blocked
Many economists’ have -rec- possession, that was marked ex- ‘off in order for the band and
majorettes to perfor tines
Everyone . from Summerside and the area are cordially invit- ed to attend the performance,
m their. rou-
‘which is sponsored by the town | of Summerside —and the Legion
Band Parents Club.
Exhibition Is Termed _ Successful
‘The Provincial Exhibition 1966 drawed to a close on Saturday night and It will undoubtedly be
remembered as one of the most |
successful on record.
Paid admission at the ‘main fair ground to Friday was 14,000 as people from aill sections of the Island and tourists alike had the time of their lives. :
|. President.»Allison Profitt esti- ;mated that an easy 12,000 peo- jple jammed the Charlottetown |Raceway-on Friday night which
featured the Gold Cup and Sau- |
lcer classic. Hundreds of fans were requir-
‘ed to cross the track to obtain |
jstanding space in the eenter field. .
One of the most enjoyable fea- jtures of the racing program has |been the special entertainment
|
jfor race goers as this must in- |
Intermed ate certificate Paul Smith
The chairman was Mr. Ray- mond Smith, the instructor Jean Graham.
Ellerslie
Beginners Lorraine Barlow
Jean Mackie: Barbara. Hayes Wildna Gillis, Ruth Gillis. Fas Coughiin Normalee Craig Michael Wood, Johnny Wood Juniors ~ Marion Carruthers. Bere Ross, — Janice © Smith Randy Smith. Vicki Sharpe
Intermediate -— Helen Mac- Caull, Vanessa Ross.. Rowena Millar. Wendell Gillis. Paul Burlergh. Pau:me Shaw Brian Dennis, George MacCaul!
Senior Barbara Dennis.
Malcolm Drinnon
Intermediate ‘certificate Bea Willams Bronze medallion Harley MacCaull
The chairman was Mrs. Clar-
‘ence Cook while the instructor was Marlene MacLean
| Accident itrol and’ rolled
‘town Detachment of the
Sends Youth |
Twelve-year-old.. Donald Wil- liam Bort of Covehead Road was hospitalized when a car he } was driving in went-nu! of ‘con- off the highway one'half mile from the Stanhope School on the Bay Shore Road at 1 o'clock vesterday afternoon.
The: car. a 1960 Consul driven bv Evert lames Bort of. the Covehead’ Road. was reported tn have suffered extensive dam- age
An ambulance’ from the Cutcliffe. Funeral Home _ was summoned by——the ‘Cherlotte-
RCMP and took Donald Bort to the Charlottetown Hospital where he was treated by Dr C. A. Coady Injuries included severe lacer- . ations to his face and head. Ev- erett Bort was reported not In- jured in the accident.
; ey tet
anit
__... RAILWAY POLICEMAN RE
Cst W A. Bill Wedge has retired from Canadian Nation- al's investigation department
Minor Breaks Are Reported
4 number of. minor breaks have occurred in the water main under three or four various cit: Streets it was learned. last night
‘
TIRES
Moncton local, made the pres- entation, on behalf of the asso- ciation while F. A. Morris, left,
after a 42-year career with the railway. A native of St Louis, P:E.I., Cst. Wedge'’s service
A spokesman for the Water. ~ q | has all been at Moncton. He made the presentation-on be. Works Department said that the ports that the number of visitors | was honored. on his retirement half. of _ the railway. Adding breaks were not serious and the. who have registered at the bu- > by the railway and his collea- his congratulations ts O. G.
Whitney, special agent. at the Moncton shops
reau "s downto Dominion | gues in ‘the police association
department will begin Square information} kiosk since L. R. Hawkes, president of the
repairing them today : ao
‘Montreal Tourist Business
MONTREAL (CP fair here, the city’s tourist busi-
25 or 30 per cent on 1965.
; Tourist officials and hotel and But conventiops
motel operators,
agreement ‘un the extent of the tourist falloff, give a number of rea- | Cooventioa
sons for the poor. season.”
They ‘say the Viet Nam war home; strike
that the US. airline| has upset the plans of
been coming here and that the
jrecent 38-day strike of long-
sailings which would have
brolght visitors to the city. Another’ reason—or hope—put
‘forward by some is that thou-
‘sands of Americans are not _
coming this - summer - because they are holding off for the world’s fair.
The: season'e— tourist. picture has not been altogether bad. Summer . convention has ‘‘never been better,"’ hotel
men aay. Frank loodsworth, general manager--of the “Montreal Con-
"MONASTERY’S
| DUBLIN (Reuters) Ire- land has banned _ the sale of pieces of a ninth-cen- tury monastery te- Americans at $5 a stone.
The monastery i¢ on tiny & Patrick's Island, three miles
out in the Irish Sea. It was bought recently for £20,000 pounds ($60,000) hy English
real estate agent Herbert Har- ,
riet.
He fianned ‘to sell the stone; to Irish-Americans and hoped to build .an . orphanage - in Northampton, England with | the proceeds ___The __Irish—government__de- | Clared the monastery a fa- tional monument and warned | Harriet it. would be illegal to ‘alter, demolish or remove the | ruins :
_summer before the 1967 world’s business this year of
~ ness is down by an estimated he says, on top of a
lis keeping” U.S ‘tourists at | {V
Collegiate many. others who may have}
business
— SALE BANNED
ry
Sah
clude mention of Arlene Mac- | geeeeesecscooe pe, ‘Dortald who sang. The. Island $ FAMOUS FOR 3 Hymn, as the horses were par- ig BRANDED INSPECTED 3% jaded to the post for the Gerd le $ iCup and Saucer rzce. if ST a A K S . | The Spartan Drum and Bugle |4 : e | Corps, from Nashua, New iy _GooD OR <
TUNES “a3: front of the grandstand on Sat- ¢ BACK ¢ | urday night. : 1% tI
{ | i
CASH FOR VACATION — and
| Call up and seel
FINANCE CO
eo
2nd Fi., Tweel Bidg.
any other good reason — Is as
near as your phone! Just call Beneficial where you get that BIG | O.K; for cash fast! You pick the terms > >;
you pick the payments. ©
. OF CANADA
108 KENT-ST., CHARLOTTETOWN
* Phone: 894-6518 .. :
OPEN EVENINGS BY APPOINTMENT — PHONE FOR HOURS
«
Beneficial
| Shoremen in the port of ‘ee || real scratched many passenger |
lease that in a period of ‘‘un-
6.729 in the same period last ee equalled prosperity’ there were
June 1 is 4,598, jared -with year. Railways" “i
‘ : ; ze nee foes but re ‘ heavy demands upon the rail- fig ave provi a) : Reported Down This Summer ‘sv*inirste meat oe: Praised gai HS Hae ee oan : ist activity in past~ years, he than. grain In the last | rei a : convention. teduces a falling off of 31.6 per oprawa (CP)—Finance Min. | Nevertheless, an unprece- eee a eae PO hetwaen cent in the number of tourists. iter Sh arp has compli. ‘dented. total of 411,176. boxcar seven and: 10 per cent. And this, The hotel, motel and tourist mented the railways for ‘a'* ©» Moved a record 800,000,000 particu. room story ts mixed. Most magnifjcent performance’ in bushels. of. grain. from” country larly good year in. 1965 hotels: mention an unusual num-" helping to make the 1965-66 crop elevatdrs. in 1965-66 ae constitute ber of cancellations “by US. year. “‘as successful’ as “any in “This Was a magaificent per in general Oly a small fraction of the travel companies which re- the history of grain marketing formance by the. railways s,
business—about 100,000 served’ spave and then failed to in Canada" Mr Shatp said wheat. exports Visitors | compared | sell it ‘ The. railways came, under of 546,000,000 “bushels. eclipsed | with’ about $000,000 peneraly , Hotels and ~motels . fo . the-/heavy fire in the Comnions dur- the 1963-64 réeord hy 10,000,000- | tourists each year for the last Laurentian — resort areas and ing the winter nonths for ‘what bushels There. were .rec rd ve years. other poput&c holiday districts opposition MPs from~the West clearances of grain and oilseeds QUERIES OFF : report” business either ‘about jcalled inequitable distribution of from the Pacific Coast and. Lucien Bergeron, director, of the same” or ‘down by~ about ‘boxcars and shipping quotas. -Churchill- Man, and a near
the city’s tourist bureau, re- 25 per cent.” ~ | Mr. Sharp said in a press re- record from the Lakehead : —————————
ESET
7
DATs
WUD a aU
“YOUR FAVORITE SHOPPING CENTRE”
‘
“On Confederation Plaza” -
LUXURY FABRICS TOPPED WITH FUR
Blue Fox, Mink Lamb, Squir-’ rel and Muskrat collars add that Jush-look to wool and wool-blends. Be sifart and choose yours now. Sizes 8 to
18. 1414 - 2214.
STORE HOUR
Mon - Thurs. 7 - 5 Friday 9 - 9 ‘Saturday 9 - 12:30 _