1:1 The Guardian. Charlottetown. Thurs. JIn. “Ll-963:

Companies Act

Revision

t‘i I t ‘ tl‘ lumumiwtic

ati‘i‘I lt‘I'i'I oi the t‘outimuivs A ‘ ‘ ‘I'H‘HH standards Hi :I g:-..;.,' .4'[\.I".I: bv ('.III.ItlI:In Cl‘lti :- ucic bi I Mil I l'l ‘ l.Ilr ( I ' rIv‘ ‘ II-IIIIMIII-

in? 'i ' I m": I'l‘l'l‘ltllltilitid‘ tim- ootututri In ' |It"r E‘Ih‘l‘llll"I ‘o \iJill‘ \‘ct-z‘cini'v ‘:.'~~pmi\ ‘n- I.‘tttlf‘< \\' \lIhoII. “ on or; p estieut and George F ammo: \ltt'lil't"ii, chair- !“ I' Hi 'tt‘ ItstttIIte's ('umpnir tr. \.t .‘tiiliII‘KIIIIO

I‘m tl'ti stui that lit Inc frir‘. of :IvIvIual t'unuciul report» in: .i owner nihiu the scope a! “wit :Iuri li.'Il\ltlI‘.'iI cm I til: i ' -II\(‘ Flf‘ tvnc . l't\ lit‘tII tat Hi It ti't .‘i.itv I":' t‘.i e'ol I' Md It"ii.‘tlllf‘t’I tittuzi‘lx um' tI_‘t‘ti (o. uth ill \‘t Iis nor M u m: ‘ms considct‘ahl} (‘lt'llt y

hum liu"li oi ‘ u tilli'HWI (“Itl' r... u m. \n v-i to»: the Sum twt .vri '35.: :4 motor siv‘p Tr‘lltittli *7! shillillll‘. it‘t‘OL'iillittn of when! m niIuIIm acceptable pin-Iti'zwll‘ n. fits’t'lft4itl‘P ii an— rvml 'u; ‘95 :rntcmcnts.”

'l at us lute supports a hunt- lop .o ~Igopusfﬂs contained in (t rljtt 'i'flli'lll I‘lmii'iﬂtlitN Eil'l

r-rosmt hr- a special commit for it"[“‘t‘st‘fll"l’\! lIIP t'cdera and

run n. :ovcrnments. lt miles for.‘ n u sections of the draft r‘v‘r .. wwulv W'lh disclosure

Urged

statements he in- in the Compames

In ‘oiauc :Il l"|l lIIII'alt‘fi \.

ti. ‘II.\\ l-I VO MHANING'

Iott‘t‘ of la\\_ would compel com- tillttlt‘s to issue financial state- tlit‘ttls that “onld be much more menu uzful than those called for under the present act." the brief stilti

.\ current requirement regard. in: disclosure of the results of out-rations of subsidiaries not in» tilltI(‘(I in consolidated state- ments presench to shareholders has virtually meaningless.

Rut provisions in the draft act uould “ensure that full and fair 'ut'm'uuuion as to the results of operations is given tn s are- Illtitit'!‘s "

The immune takes strong ex- t‘opilttll to the fact that in the

': .I i)l'!\’alf‘ companies are not bound by the disclosure provi- sinus. it recommends that stan- dards of disclosure in the ﬁ- nancial statements of private companies he the same as those for public companies.

"The shareholder of a private company is. perhaps. more in need of protection than the min- oruy shareholder of a public company." the Institute said “We can conceive of no reason “in he should not be entitled to a financial statement based on comparable standards of dis- closure.

.1 q

Quebec Grain

To Get Increase In Capacity

(‘1 l \\\' \ ('P - Transport "tui our R.ti(‘f‘l‘ has announced tor-t ‘iw noernntcut has approv— of

ed r..- II: the capacity g -» unkainis at Quebec in solution hishels Irnui 6.000.000 F ;. or sslttmtmo.

i'r .tltltilltiil‘t‘li the decision to

e ttvzviwr‘ t‘Ity delegation made me of vrprosentalivcs of the Owner Port (‘ouncii the t"haIII—t

be of t‘nmnIcI't-e. tle Quebert‘ g ‘nh nt‘ Ihc t‘aoariian \ianu- {drumm- \Lsm'latitm and lil“ ng'mu‘ Rmari \Iett‘hants Ass" r'.‘ c

Tim deiogatlnn presented ll- b-r! tn \Ir Ralcer asking the

ovarmnrt department to In- (Irrt.P Quehm- grain storage fa- ‘_‘tt.tln(t 000 bus h e l s from the present capacuy. say— ir»: ‘uis “as “urgent for the health of the region." Quebec. ("IV council had approved the I

r" "es in

STORAGE

Baicer said the brief “mud he sent to the ministerial committee recently formed by

b- ET' I“ \

Elevators Set

the federal government to make a complete study of grain stor-E age. llmvever. he did not agree ‘ with the delegation's request to meet with the ministerial group. saying the committee was con- cerned with the study of techni- cal problems.

The delegation maintained ‘ that the present elevators no‘ longer serve the Quebec re-

gion's domestic market for Its evporting abilities

‘\ir Ralcer said he understood the Quebec brief but added the federal government must. give equal treatment to all Canadian ports- in the Maritimes as well as on the St. Lawrence River.

The old elevators. said the brief. were built between With and l928 and were designed to, handle box-car loads and small barges. .

Only one section. I 1.000.000- bushel capacity one built in 19.38, is suited to modern needs and even then Is inefficient for the loading of trucks for the growing domestic market.

Mines’ Preside

Business Tempo Slowdown

'iftht‘Vi'fi CPI—The imme- dialf‘ outlook for 1963 suggests some slowing - down in the : ‘empo of business activ-

H Winters. presi- Aigom Mines Ltd.. gmd here.

Speaking to I meeting of the A:;‘rc::tte Producers Associa mm of (Intario. Mr. Winters s:th that business proﬁts which ate the real stimulant to growth in a private enterprise economy have not kept pace with the rise in n‘f‘i'raii activity either in l .'III.ui1I or the I'hited States and “protit squeexe.“ no- " in both countries. will prulmhlt' Ht'l as a deterrent 00 a : rate of new capital expen- ‘-‘u for." 9 said. "currency dv- :I'uu'inu has not ad a owl.an on the internal to» =tructure. but the increased

tillor‘l

nt Foresees

:cost of imports iI bound. in time, to work its way through. and have its effect on, the econ- only.

“Now that the country has on- dured. Ind overcome. In ex-

change crisis. it can afford less I

than ever the massive budget deficits it has been incurring in the last few years. Already 12 per cent of national tax reven- Is go to servicing the national bt."

5.: a...

Mr. Winters said that if Can- ada is to avoid I slow-down in the country's rate of economic grovth it is necessary to con- sider when and how the econ- omy as I whole can be made to move forward It I satisfac- tory long-term rate of eprn

a!

on. .\ir. Winters' remarks were

‘contained in a text to the press '

in advance of delivery.

Teachers’ Pay,

Expected To Be N.S. Issues

H’tili’ﬂ; £(‘t‘t Proposals for Increased aid in local school

l'ina'rl': m":- urtustrial develop» for"! prom-ts and revisions of thr l‘i"“ uu'r’s labor law: are

mm. lmi la iir‘ key issues when

the \In'n Scotia legislature ormr. here Feb, ‘10,

A government plan to raise tnnr'liri's salaries through in-

fi"!lsl‘fi aid to school boards I! l'kel' lo HIIIsc the biggest stir in the Rescat house bcccuse of the hut of higher taxes to pro- \irle money for the increased

owl

Tue W43 session “III he the Hunt for Premier Robert L. Stavitorl and his Progressive (Ptl':(-"\;tll\t‘ government since the list election in 1060 Th! pa‘tr I'Jiilif‘ to power in l956.

The l’ttif’. session of the legis- iaturr wound up April 13 after S‘ i‘ - \t" u- ’I' It‘ I'cmi‘tg gamion is t‘\|)r‘(lf'fl l0 Iltst be- tween six and eight weeks. :oxcrnmcnt h old s 2'? the iuhcrais have l5 and

liomocratic partv one. 'i‘I-v hirlertons in September left the standings unchanged in the dust-at house East Progreser ('onsetvat‘vc .l \ibcrt l-itttnger defeated Liberal Gerald \ Re.-

:I

pan hr [7 votes in a two-day contest \tr Fittinger took over the «ml to” vacant by the

death of his father. NOSE” OI'T Pf‘ William .\'. lilac~ . nosed out Conservative Allan Paris by 7% votes to take a seat in inverness vacated by the death of Mr. Machean's brother. Rod Mat-Lean. inverness Is I two-member riding The other will is held by Liberal J. ('iyde Nunn. t Earl Urquhart. elected Lint eral. carter at I party canyon-3 don I in November. will in

“MFWJ’V 3

Labor Laws

taking his seat as I full-fledged provincial leader. He had been acting leader of the party since the retirement of former pre- Iuicr Henry D. Hicks who was defeated in the 1960 election.

Among the other subjects likely to spark debate in the legislature are proposals for construction of I rod and bar mill at Sydney by Dominion. Steel and Coal Corporation and a proposed pulp mill at Sheet Harbor, about 75 miles east of here.

Premier Stanfield said last week, following I meeting with executives of Dosco and liawkcr-Siddelcy. tibnt hlI gov- ernment was willing to contrib- ute toward the rod Ind bar mill provided Donco made I "substantial investment."

It has been rumored in recent weeks that the mill might be built at Quebec. ' made no statement the meeting. but promised com. ment "soon. '

The newsprint mill at Sheet Harbor had been planned by iiaiifax Pouer and Pulp (Tomv pany, However. last month the government gave the company until Jan 31 to decide whether they would build the mill or n The company replied that it nould not likely be able to reach a decision by that time.

The premier then said the government now regarded itself as free to make other arrange- ments Legislation was passed at the thin session enabling the government to enter into an agreement with the company in con'nectimt with the imposed.

'l .

The annual—,vidid from Fin-‘ land‘s iron on mine: is 1.200.- om ions which givo 250.000 ton! '

SPECIALS

JANUARY 17, 18 and 19 CHOICE QUALITY .— CHUCK. BLADE

RASTS

SAOVE

EV E R Y PURCHASE

Sat. 8:15 an. to 9.30 pm.

STORE HOURS Mon. - Tue.. Wed. 8:15 am. to 6 pm. Thur. 8.15 sun. to 9 pm. Fri. 8:15 am. to 10 pm.

SALE STARTS “UK, 8:15 am.

FOLKS! WE HAVE GON-E CLEARANCE CRAZY! Our entire stock of hard- G

ware. dry goods. and variety merchandise is on clearance Sale and every price has been drastically reduced for this 15 DAY HUGE JANUARY BONANZA CLEARANCE SALE. Savings to you will be substantial on every purchase. Plan to be here early. Don't miss these TREMENDOUS bargains.

2

BOOKS. PLASTIC TOYS.

IN THE SHOPPING CENTRE

EVERY PRICE REDUCED

JAN. I7

—— AMES. COLORlNG

unjc'orr

THURSDAY THURSDAY

GATECRASHER GATECRASHER made by TAMS of England Misses Bulky Knit

& CARDIGAN Z for 45¢

regular price 450

Sizes 12-18-24 months Laminated, blue, infants

SKIRTS 8. DRESSES SNOW SUITS

400/0 OFF 1/2 PRICE

Magenta color \ ladies‘ bulky knit

Cardigans

reg. 6.95. Sp. $3.48

LADIES' & MISSES'

IACKETS

$1.9

sizes 8 to 14 regular price $3.98 Sizes 10 to 20

black, brown and green IAdies’, stretchy

SLIMS nr- 34'88

regular price 7.95

Ladies' Men’s

SKIRTS 40% OFF

Sizes 24-6-8):

Also M ‘ Wool, Rayon & Nylon fancy patterns & plains

and

1/3

1/2 PRICE CARDIGANS

Ladies', Jersey Knit S - M - L

PYIAMAS

regular 5.79

All Child's Mtsses' and Indies'

JEANS 33'/3%

PULISVERS

Child’s. Misscs‘ and Ladies’ Orion '

HATS

Also Mitts and ﬂat

331/5572 on

Special $3.88 I i— ‘

Wool and rayon Nylon reinforced

Infants — Sizes 1-2-3 years Men's & Boys'

Pink, green, yellow & coral HUDSON BAY

COAT. HAT & LEGGINGS

Y A R N SETS sneclal $8.98

I: special Less than 1/, price

ROAST 63% ROAST 49%. COFFEE. 6 oz. .

cnnls'rms PREMIUM. ' ' I

FLOU R 4 LIGHT BULBS at Reg. Price

smssc5m4n=

GRADE "A" EVISCERATEU c

BROILERS . . “"39

CODBI'JIY‘S-J LB.

SODAS...... 33° Lbs. I

SUNKIST ‘ MaclNTOSH

Refer to lucky Dollar ad for more

I“. H. INSTANT . CHOCO . . With The Purchase of CHANGES APPLES Grocery Specials

ALL MEN'S. LADIES', BOYS' or GIRLS'

these skates are regularly priced from 85.95 to $39.95.

DON’T MIS- THESE

ALL LADIES'

COATS 1/2 PRICE

SUPER VALUE

_ MEN'S Plaid. in large variety of styles and colors.

SHIRTS 20% OFF

MEN'S Top Quality Worsted

Dress Trousers 3 3 '/3% OFF

Plays all records

ALL Interlocking

10 Foot Steel Plays all speeds L Istmglmgggs T A P E 333:: “99399 C. E. VACUUM

regular $2.35 5""‘3 “ CLEANER

Sapphire needles

. 329.88 25% °"

AT mar 10% on EIIEIInIIIIIc AND

up to 50% on um

LINE OF GOODS

s1.66

D-HANDLE Snow wand Stable

SHOVEL

regular $3.89

Each 32 .88

All new Dulox with mntroled “Indy Sunbeam"

Hair Dryer

s59.99

COO-V15

Heavy 710-15 . . . . . . . 13.99 Mil-15 14.99

Anti-magnetic with hamlet

WRIST WATCH

regain $29.50

Au 1 year guarantee TRANSISTOR dry ﬁnd W

RADIOS IRON

SAVE NOW!

'/2

331/3700“ 3",...‘81 0.33

SWEATERS ' co ATS

1/3orr

Winter Jackets

Car Coats

in a variety of styles and price ranges.

Sweaters

20% OFF

JACKETS v. PIcE

SENSATIONAL SAVINGS 5 lide S ' Sport Coats

25%0“ _

MEN'S SPORT

HARRIS TWEEDS.

CHECKS, eta.

Men’s made by Bardsloy F

HAELTS 20% OFF

Boys’ lined dungarees Ind

Trousers

20% OFF

BOYS’ WINTER

JACKETS 20% OFF

BOYS'

ENGLISH

WORSTED

In tbs-k ducks. char- oonlI Ind dark put- tiornn 2 and 3 button styles. in regular! and tolls.

ALI. N's

dxmum‘m“~._.-l . __

..u

C. O. 6 5

-7 . 7'

7. 7.

:7.

.._

F.

{8.

:3.

b-3ArJr.--ai-;.

‘jw... 99.0.0.3?" Ufi‘OUIU'

.3 Q.

9.99 A“,

P? 942.

SUITS 407m»

During this do I “Castle Hall” “glint! worsted suit which

of concentrItI.

" MTV-“In rzuvwvmmur. Arvin; ,wmx. “imam v

k ‘ .".r:u1.amﬂi_ﬁm—nm_r‘»_s-ﬂ. ..