AUGUST 15. 1950 .
THE - GUARDIAN. CHARLOTTETOWN
- canaillans lisiistit I Ilniisrlir.ltlng'sVliiI
Munifioent uncles to Friends and Servants
OTTAWA. Auk. if - (OP)-The people of Canada. and articulsrly its students. are the l lieritors of . Rt. Hon. .W. L.'Maclsenzle King's V 3750.000 estate.
The country receives his two homes in the Ottawa area. to be used for Public Dllrposes. and sev- eral hundred thousand dollars-t-he specific amount not yet known- are to be set aside" for university post-graduate scholarships. -
Another 3100.000 or more is left
to relatives. friends and employees in the will of the former Prime Minister made public recently.
Cash bequests made by Mr. King amount to about 380.000, and in addition there are two annplties which could carry the personal legacies to more than 5100.000 in time. I
The largest personal bequest was of 55.000 a year for life to Mrs. H. M. Lay of Barrie, Ont.. the former Prlme Mlnisterls sister.
The other annuity-82,500 . yggp -is to be paid jointly for me to Mr. and Mrs. Godfrey B. Patteson of Ottawa. friends of Mr. King for more than 50 years. The annuity is to be continued during the life. time of the survivor of the couple.
Historic Monument
Stately old Laurler House. home of Sir Wilfrid Laurier and then of his successor as Liberal chief for many years, is given to the Government; as a historic monu- ment and centre for research into Canadian history.
To the Goycrnment. too. goes the 500-acre estate which Mr. King acquired piecemeal during 3. mm Century at Kingsmere. in the rol- ling Gatlneau Hills on the Quebec side of the Ottawa River 10 miles from here. Mr. King asked that it be preserved as a park and that part of it be setlallde as a coun- try home for Prime Ministers.
The gift of Laurier House. orig- inally left to Mr. King by sir wu. trids widow. was accompanied by most of the valuable furnishings of the home plus 5225.000 which friends had given Mr. King for its Upkeep and which he had pre- served intact.
The scholarships provided by the former Prime Minister will be set ill! with the income from secur- ities valued at about 0100.000, giv. on Mr, King on his 74th birthday by John D. Rockefeller. Jr.. and from the residue of the estate left after specific bequests. A state- ment from the executors said this residue would run to "several" hundred thousand dollars.
Out of the revenue from the 3100.000, scholarships worth 31,500 with will be awarded to graduates of Canadian universities for study of. international relations or indus- tum” relations. in United States and
(0190 KIll8d0m'upiversltles. They will be known as "Macken King travelling "scholarships."
To wilful; Students
d'!'he scholarships from the real. us of the estate will be worn; my "'0" then 11.000 lltiece and will be Imlvd to "worthy" university graduates for postgraduate studies. They will be known as "Mackenzie King scholarships."
One of the second group is to be awarded yearly to a gi-sauna or
Harvard University, where Mr, King was s student. Another scholarship is set up for
the University of Toronto to com. memorste Mr. King's father, John Kins. tors? years a member of the university senate. The "John King scholarship" will be provided Yearly out of s 010000 fund for pro- ficiency in English literature or constitutional history.
Mr. King also left instructions for the literary executors to astrop- erate fully with Mctlill University or any institution which may be deslsnrted later, in the preparation 0! the blosrnphy which is being mdowed by the Rockefeller found-
on.
On the-literary side. also, Mr. Klng.instructod his executors to arrange with I British author to write a biography of his grand- father. William Lyon Mackenzie. the rebel of early F ” days.
The author is Ostherlne Mac- donaid Msclesn of fnndon, blo- snpher and friend of Mr. King for
some years. ' Illl Glfll
I-Irsoat personal cash sli'ts-elo,- W0-Iltlece-go to Fred A. McGreg- 0l' and J. Edouard Handy. long- time associates of Mr. King.
Mr. Handy for 11 years was per- sonal secretary to Mr. King. serv- ins him up to until he died. ,
Rev. Ian Burnett. minister of st. Andrew's Presbyterian i church here, which Mr. King attended, We! left 82.000. ur. Burnett offlo- lated at Mr. King's funeral.
several domestic and office em- ployees or the former Government
and were mentioned in the will.
Miss LI. zavltske of Rentrsw, Ont. received 48.000. she was as- sistant secretary for many years at Laurie: House and nor is re- tired.
llcrfia: Lillian Breenhof Ottawa. as- Issn secretary won ssr. King died. and sun rlorence ll. Moore of Ottawa, 3 former assistant soc- retary, are given ssoo apiece.
John I. Nicol of Ottawa, who rc- tired two years ago after so years as confidential messenger. was will- ed 01.000.
Mr. and Mrs. Inns xeily. care- takers of -the xiognners country home across the Ottawa luver from here. receive si.ooo between them.
Tile lipswlng in Basic ilomsoility Prices
In the past few weeks, the ilftnlih of the basic commodity markets has attracted increasing '"90II0'l Ind. indeed. aroused 39”" Wllcerll. says the current Monthly Review of the Bank of Nova Scotis.
Since the outbreak of war in Korea the rise in prices has been sharp, reflecting strength in a wide variety of commodities and especially in rubber, tin, sugar, and fats and oils. From June 23, Just before hostilities began, to July 27, the official U. S. index of spot prices for basic commodities rose by nearly 1596 and. indicative of the expectations of purchasers. futures prices rose considerably more. Thus, the Dow-Jones index of futures prices of sensitive com- modities increased by nearly 2296.
Prices were already showing strength before the outbreak of lighting in Korea. the Review points out. The broad trend in the basic commodity markets had been upward since mid-April; prices of non-ferrous metals had been siren ” ' ", .wool had been ris- ing again, and grain prices had also been nrmer. For some com- modities, prices had begun to rise well before April; for example, last Fall's abrupt advance in cof- fee prices and the strength in rub- ber, cocoa and cotton and lumber before the end of the year. As a matter of fact, the downward drift in the basic commodity markets was reversed about mid-1949.
The recent advance in the aver- age level of basic commodity prices has now offset the decline which occurred in the first half of 1040. Though the current level is still considerably below the peak reached at the end of 1947, it is still very high. At the end of July the basic commodity index was about three times as high as the level of August 1939. In contrast, the general index of U. S. whole- sale prices, in which the basic commodities are of course includ- ed, was only somewhat more than twice the August, 1939 level.
-. Underlying Reasons
The Review goes on to discuss some of the underlying reasons for the gradual strengthening of basic commodity prices before hostilities began in Korea, and discusses the outlook as it appeared at that time. The high level of business activity in the United States and the gradual increase in industrial production overseas meanta strong demand for industrial raw mater- ials. the production of a number of which was barely sufficient to meet requirements. At the same time, however, world food supplies were increasing and the outlook for the prices of some agricultural commodities such as grains and even sugar was open to more question. This was the immediate picture just before the outbreak of war in Korea.
The medium-term outlook sug- gested tho possibility of a re- sumption of the downward move- ment in basic commodity prices. In addition to te prospect of somewhat better lstributed food supplies there remained the likeli- hood of some slackening in U. S. business activity when. the demand for i ”' and k ' wan- ed. Moreover, the persistence of the dollar problem was a further factor of potential weakness in U. S. prices. In general, it appeared that the broad trend might be. downwsrd possibly over the next couple of years, though the supply of some commodities would re- main tight.
'nonr-semi Outlook
The long-term outlook, says that Review. appeared more buoyanil Though there might be ups-an..- downs in the United States, the .. 5. economy was growing at an impressive rate and the trend of U. S. consumption of most com- modltlcs was definitely upward. The trend of consumption in Eu- rope was slso upward, especially as Germany recovered, and it seemed likely that any moderate r c ” lnbasic ”: pric- es sndany easing of the dollar shortage would encourage larger consumption in the heavily indus- trialized countries of western Europe. Then again there was the evidenit growth and further in- dustrialisation in such countries as Canada. Austrsiia, some of the Latin American republics, and prospects of more industrialization in India and further recovery in Japan, all of which would add. to the demand for bI&ICCOK!H'i10"HiBa. From a long-term point of View. the relationship between the sup- ply of and demand for Drimari commodities suggested strelllth. Because of the growth of demand and the slowness of the response of production in many cases. the price relationship between bum commoditiu and nnished I000!
nouiiel Lay of nu-i-io. I nlm: John Lay of Toronto. a nephew; Mrs. Gordon 1'. Dunlop of Trenton, Ont. I nisos; Barry M. bay of etc. .....i”''''' ;'.'i.'"'..i.'i.”'.?l”':s'ii. .."”3..?' 01! V s 'l
a slstsr-in-law; Ilrs. W. M011 II- King of Tpronto. widow of surg- eon-tltautensnt W. I-roll 31- Kills- s nephew. and Arthur uacdoussli King of Toronto. Gumsvi of 03.500 each are be- ussthsd to William nyon Macken- ge King and-Kathsrins nllssbtth , both children of Surina-
l-lush Armstrong gardens: at usiitensnt-w.1..ls. Kins; to as . ltcuss, is slven om invaded by the for th-
in. inn. willed man to Msr- comm-of lmltirli 0' M'- suet Nevins, who is in -the service itlllvnll 000010100 01". 0590'
0!” sister, ran. ray of narrlah t . King also specified t Leurier lfcuss Imployslsst the llilimlciot his death. noirothsrwise 0
meat. "a'IIiTis '1” niTyIunuiTo' smctsav M. , . V - Ill additicn there were these be- dllllts to relatives: Ultlll.-of NMD IPIOGI I0
Jltss tiutllla
ren. Payments will snsds yearly or half yearly instalments after each has reached the II! 01 ooininodore Horatio Nelson Lay of wsshlngtcn,Vsloo0. and Mom
ray of Ottawl. U1 - . The full amount of the personal bsqusstsarstobepaidtothsls- gatsss. with the residue, of the Is- tsts taking can of the succsalon
, .
ii
promised to remain generally more favourable to basic commod- ities than during long 'perioc7; prior to the war.
Now. superimposed on this pic- ture, are the grave developments of the past six weeks. The step- ping-up of U. S. defence expend- itures on the proposed scale is a development of major signitlcance. swinging the balance in the U. S. economy definitely toward the in- flatlonary side. Increases in de- fence expenditures elsewhere are also clearly in prospect. Moreover, the fighting in Asia raises ques- tions about supplies ot commodit- les from that part of the world. Furthermore, the communist pres- sure in Asia is clearly not contin- ed to Korea, and the need to assist economic recovery in such coun- tries as India was never more ap- parent. . The impact of these new devel-
possibllity of over-buying must not be discounted There are still surpluses of some commodities. and in others higher prices might quickly bring demand into line with supply. Thus. though the Ko- gean war has radically altered the present position and near-term pi . i the extent of its innat- ionary influence depends. on the future course of international po- litical developments. r
opments is highly uneven and the-
Tracadie Notes
Mr. Wilfred Mullen of Tracadle left on Tuesday for Toronto where he intends to work for the coming months. .
Peakes baseball team visited Tracadie Tuesday evening for a close game enjoyed by all. The score was 8-6 in favour of Peakes.
.
Miss Doreen busack has return- ed to her home in Tracadie after spending the last few weeks in Charlottetown.
Misses Phyllis and Mildred Mul- len are patients in the'Charlotte- town Hospital." undergoing tonsilar operations. V v
Miss Sally Handrahan visited ljier friend Miss Freda Mullen of Tracadie on the past week-end.
Mr. Loman McKinnon has re- turned to Tcronto after spending an enjoyable vacation with his family in Tracadie.
Joseph Egan of Borden ls spend- ing a few days with his grand- parents, Mr. and Mrs. Fred Mullen of Tracadie.
Kinsmen tinting At stanhopc Beach. is Fun For All
Nearly 280 young girls from, Charlottetown including a number from St. Vincent's and Mount Her- bert Orphsnages were guests at a snammot picnic held at Stanihope Beach recently by the Kinsmen Club of Charlottetown. Above is is general view of Jhe happy young- sters, .whlie the second picture depicts n happy group of Kins- men in various stages of dlsr'obe- rnent. Left to right are, Don-Ross, Roi Taylor, Stewart MscKay, N Dooley. Joe Shelfoon, Bill Boyle , Freemont Archer. Ernie Lord. Dr. F. MacMlllan, Dr. Loyola Duffy and Percy Maononsid.
(Photo by Burks)
STEEL OUTPUT
OTTAWA, Aug. 10-(GP)-Canada produced a record 1.680.024 tons of steel during the first six months this year, the Bureau of Statistics reported today. The peak total, com- posed of ingots and castings, com- pared with the previous high 1.6'l6.04-1 tons recorded in first half of 1940. Pig iron production during the halt-year declined slightly to 1,102,100 tons from 1.135.071 in I949.
District attended the annual field day at Upton Experimental station on Monday. Tracadie and Eastern All-Stars (East-Point) supplied the exhibition game which Tra-
iloctor Refused To Attend Man
Imposition of a E50 penalty has been recommended in the case of a Birmingham doctor who was stated to have refused to attend an injured man 100 yards from his surgery door. The recommendation was made by the Birmingham Executive Council of the National I-Iealthl Service.
The injured man was a milkman whose horse had bolted. He was knoyked down by the horse as he was trying to, catch it and he died of lils injuries.
In 9. letter published in the council's report, the doctor, who was unsmed was quoted as saying: "I was busy in my surgery . . . . As a rule I do not go out to attend accidents on the Kings highway
H'I:ire committee, recommended a fine of 53250, but the council re- duced this to 5250.
IT'S ONLY MONEY
REGINA. Sask. - (CPI -Ind- ians have been attending the horse races here and race officials say they are getting is great kick out of it. The red-skins sit solemnly in one corner of the bleachers and
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Huge Diesel Plant For London, 0ntario
IIONPON, 0nt., Aug. it-(OP)- This city and Canada has s new 013900.000 industry.
it is General Motors Diesel, Ltd.. which will make locomotives for Canadian railways, and the figure 313,000,000 gives only a faint idea of it.
For very shortly it will be pro- ducing one diesel unit every two days. worth from 3100.000 to 8200,- 000 each. and later on it aims at one every day. That adds up to probably a minimum of 320,000,000 each year.
The materials needed are not all available in London. and so the industry offers a chance to any Canadian manufacturer or com- munity to get in its bids on or- ders; with Western Ontario towns and cities in a favored spot.
The site, just outside London, was farmland ll onths ago. It has some 200,000 square feet of working space on a 2l0-acre site and will employ about i.000 per- SDDS.
General Motors executives chose London because, with about 100,- 000 people, it i.s'neither too large nor too small.
The new plant, already at work
cadle won 19-1
13 Junior Farmers from T1'acBdIE
OLD HOME WEEK TO SELL THEM OUT AT AMAZINGLY LOW "PRICES
BE EARLY.- SUPPLY IS LIMITED
1 GENT'S WATERTITE sports. x WATCH Dependeisle ' I5-Jewel Movement " A Real 'Iuy- A pf 4
watch the pale-faces lose their money.
WE ARE OVER-STOCKED ON CERTAIN TYPES OF LADIE WRIST WATCHES - AND HAVE CHOSEN
but officially opened today, will go to work on orders from the
Canadian Pacific Railway. In Oc- tober it will start on a 32,500,000 order for the Canadian National Railways. '
RARE GOPIEB
SGEWICK. Alta. -(OP) -A rare black gopher was shot by a farmer here recently- the unusual animal was sent to the University of Alberta. for display.
CANBERRA. Aug. 10 - (Reu- ters) - Australia's coal miners, in a country-wide plebiscite, have re- jected a. proposed alliance with seamen and longshoremen to tight the Federal Government's bill to dissolve the Communist Party. The alliance was proposed at a meeting of officials of the Seaman's Union, the Waterside workers' Federation and the Mincr5' Federation.
SYDNEY, Australia, Aug. 8 -- (AP) - Dave Sands British Empire middleweight box- ing champion, tonight technical knockout Brlmm of weighed 161. Brimm 159 1-2. .......m......j..........n
skin from
of Sydney.
scored a over Henry Buffalo, N. Y. Sands
GIIAFT SIIPPLIES
Ask for
Crafts muiml-mi” service and linnillornlt supplies for all I-ts and crafts write
F R ICE Booklet-"Arts and
and ,tor complain
to-
.4uuza&a(t5u.u&'u-
LIMITED
Maritime and Snvfoiirullnml Divinity
AT
MA TREMENDOUS
SAVINGS
S' AND GENTS'
AW LADIES' FINE QUALITY ,I5-Jewel WATCH With Yellow Gold Filled Case --ExceIIekn'I' Value. 31 5. 95 L" Q
ll Bntllurnt St.. Toronto lb, OIIK-ill
yr
Iei to match-
JEWELLERS FOR rout: GENERATIONS
. I5 JEWEL- ! GENT'S WATCH
With Yellow Gold Filled Case and Smart Expansion Brace-
While They Last
315.95
THESE ARE BUT THREE OF. THE, MARVELLOUS VALUES OFFERED-WE HAVE OTHER STYLES AND PRICES.
BE EARLY- FOR BEST CHOICE
. H. - Tfaylor
m ,
” GOOD LOOKING
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