:3” t be nearer than YOU wno NEVER FINISHED . C1‘? are ! .fi:dd};i"ge|'ti:'s S. Oil ~ ‘'|gut.a‘ ” insane people in J B . ~ ‘mm min“ are invited to write for man booklet. nu. in... W. as y p by 8".“ earn your High school Diploma 14 The txuardian, Charlottetown, Mon. Oct. 2.3, 1962. i By GREG MaeDONALD t Ca. adian Press Staff Writer The business community. like‘ lthe rest or the world. spent lastt lweek caught up in the tensions] of the Cuba crisis and pre-: Isented mixed pictures of the. ‘situation. i } One was a rather violent re- action by investment circles. ‘The stock and bond markets re-_ iacted in a war-scare manner; 'A deep decline as tradersl .scrambled to get out of the. .m arlzet following President‘ ;l(enncdy's announcement of the blockade of Cuba. a recovery‘ the next day as bargain hunt-i er: hepan shopping: and a le.v-- ellin: off period as investors scurried to the sidelines to await further news. . ‘ other business news was« ‘quiet and a little brighter than‘ -usual ‘SALFS INCREASE ‘ The Canadian Steel Ware- house Association reported in- icreased steel sales in the first ;nine months of this ear. Ellard Yea. president. said at survey by the association shows 1 that in most cases sales in the‘ - / pPt'i(\tl were up more than 10 per cent over the correspond- im: period last year “in spite fact that about half of the warehouses polled stated that sales of imported items had shown sharp reductions. He said prices in 1962 have ccrierally been a little firmer than last year with profit ex- pectations more buoyant when compared with 1961 »—- "recog- .nized as a depressed year in the industry.’ Mr. Yen said Canada's aus- terity program “now is affect- ing the sale of structural steel? and this will continue to create .some doubts as the industry heads into the new year. ‘ ‘However, this tempered by reports that devaluation of the Canadian dollar and the re- cent lifting of surcharges on some imports is giving second- ary industry cause to investi- gate thoroughly the possibility of manufacturing domestically. The full effect is still to be felt ‘in Ilir industry." lccwrs NEW Mr'.Mm«:n. ‘ The banking community was of the EI;I§”CTlOlN“WOKOT" Getting in shape. for civic rloes daily worlmut at i'.l.\lL7A presented with a new member elections in December. Mayor gym. Alsbury has indicated he this weel: when it was an- T Alsbury of Vancouver may seek third term. -r.r.unced that a new trust com Huge Spying Mission Operating Over Cuba ..,..... The firm. called the Metro pnlitan Trust Company. has lbeen formed by three Toronto y !LA.B.Ol..D MORRISON masr-wt" “as stepped up to at l1I..E\’El.AND |APl - 4 The WASHINGTON ICP) -—- Under‘least. six full flights daily. tiuhan crisis isn't expected to President Kennedy’s authority. Acri photographs began to trigger any panic buying, but an aerial spying mission de- pour in. By Thursday. Oct. , steel producers are fairly sure scribed by U.S. intelligence as Kennedy felt he had all the it will cause mo. ers to re- “massive." ‘. ver Cuba-proof he needed to accuse the evaluate their inventories. Steel daily. scouting and photograph- Russians of lying when the Rus- ' magazine reports. ing the reported buildup of So- sians maintained the military Stocks at. many plants are so viet ballistic missile sites. offensive missile base. close to minimum working lev- high intelligence source buildup in Cuba was Sil‘lCii_\i de- els that a sudden extension of ‘ fensivc. At 7 p.m_, Oct. 22, he mill deliveries could halt. pro- Crisis Expected To Give Impetus p Except For Stocks, Business ! iA.ppe«ars Bright During Week \ The remainder Canadian interests. GIVEN G0‘-A8! Shell Investments Ltd. an- nounced late in the week that it has received more than 70 per cent acceptance from the hold-1 men. They are R. V. Fras- , h fc -_~ By DON HANBIGHT tacky a businessman. John R. §.'§,,°o.°;°’é‘.','§',‘.’,',',,,‘,,,.‘,'°fu‘,’_ “£33,! OTTAWA tCPl—8hould Cana. Campbell. a lawyer. and Rob-‘an offer made earlier thisiaéfi gf:r;“3‘$“§§og3'&%‘“u:€’; er‘ K’ McConnell’ investmentim9I“hl:‘0fieT. not made to Unltedla55"““b° "W m°r°~~1°3‘1 yleeway on the amount of that deam‘ fstntes shareholders, expire .~money they can invest in com- Roland M i c h e n e r. former ‘ Nov CI 5P9‘_‘k°1' °l the C°mm0“3« 13. The newly formed Canadianimon flocks? .. ., chairman of the company. Helium Ltd. announced last: 9 answer was "0 when M¢"°P“‘ll3ll Wm 0P9“ "‘.week it has successfully com- NV“-i °°mmi’“““ M the _ 1...‘ H; _ H g th ‘banking and finance put the 5WllZ9l‘l8lldii)nieti‘al dischvzyyugvevlie in (Sash? q“‘35“°“ ‘“ KR M‘°G"'°3°’- two branches in . . . and West Germany, with other l agchewanxs gwm Curmn, a,.“_ ‘federal superintendent of insur- extraction plant Toronto Nov. 6 and will have branches planned. A is “Me, - ance. He said that in effect they it will conduct regular trust .c0,.,m,ctm,, and ,5 expected more not using all the investment 9 "mil 3”!’ b"5ll“’-55 l“Cl“dl"S‘operation by the middle of next 7 "Paw P"“'uam°m already has savings. deposit. managementwwa,-_ rpm; company is nmflglven ‘ t _ mortgage. personal. eorporate‘},,inu;.. by 3,-jfish American 0“; Backgroundmg the situataon and general trusts. Cm L. ._ British oxygen Co. .is the issue of more Canadian Six European banks. along L1,; Md L-Ah. Liqmde 5; pam_ ownership of Canadian re- with some 30 other European ‘ ‘sources. and a law which since and merican institutions and Japan has contracts to buy 1932 has limited life insurance individuals. hold about a one- E00.00'l tons of Australian alum- companies’ holdings of common A’; °"”°° '”; lnsuranceptticial Opposes i;More leeway On Investments assets. with stocks book value Mr MacGregor sald\“the' life S companies are nowhere close to crowding thli limit. Since the Second World Warwthelr com- mon: - stock holdings had aver- aged around four per cent of assets. and the est any one company had gone was 8.3 per ceut—not half the limit. NOTE ‘BASKET CLAUSE‘ in addition. a so-called “bas- ket clause" in federal legisla- tion allows insurance companies to put five per cent of their as- sets wherever they like. Stocks in this basket need not have the seven-year dividend record measured ,-by to required for stocks under the 15-per-cent rule. , However. Mr. MacGregor said ‘ that despite this extra five per cent. of freedom. assets now will chit the low pm stringent "can you bout 0 . extra room in case investment trends change. MANY AGAIN 1' - . said many llfe companies do not consider common stocks a “sultable" vestment for life insurance funds. One U.S. company we dead against investing in com- a s a all. But Chief Justice Dana Por- ter of Ontario, commission chairman. noted that the ‘higher limit was sought by the com- in. S S ponies themselves. Unless there.room and a method of handling "why not tmcomtng calls for five students were some danger. let them have it?" ' As long as the present limit is not being crowded, Mr. Mac- Gregor said. the insurance de- Mi _ nadisn stocks are available. He \cent years. U.S. l l t l putxmtseuoebuwouus. wise to havcmoraaxpa;-um, with I illlillfl‘ D.!'tIP0l‘tlon in common stocks before raising the ceiling. The superintendent also won. dered aloud ether good Ca. noted that with yields on dom. estlc stocks “very low" in re. s have had more attraction for the life companies. of the four per cent of assets. in all stocks. only one- ‘ third were Canadian. SICKNESS N0 RELIEF OAKVILLE. Ont. tCPl—Stu. dents of the new Gordon’ Per-dug High School here can get their lessons by telephone if they are at home sick. '1‘ system in. cludes a speaker in the class. at a time. Students ca part in the lesson. bearing is over the speaker and answering questions from the teacher. third interest. in the company. ‘ inum in 1963. .stccks to 15 per cent of total and says an elaborate expansion of U.S. aerial surveillance was or- announced the decision to im- Illllflitlll. the m€l8lW0l‘kll!8 dared shortly after 9 am. ’i‘ucs- pose the blockade which went WfiPl<l.V SayS- :‘ day. Oct. 16. after advisers into formal operation at 10 a.m.. "ll our blQ<=l<adE Drove! PtfeC- ‘ ct. 24. brought to the white House the: BEGAN LAST JULY 3 tive and doesn't touch off first pliot.or.raphic evidence that‘ ‘shunting war. its effect on steel ' ].0(l0.mile and 2.200-mile missile Tm. im_emgen(._9 5Om...‘. said buying will be slight." Steel. léaies are under construction in ’1~u.n(,;-5 and report; [hm misgsays. “Users won't have tol u a. worry about shortages of Ion- nage products-—the carbon steel items that are produced in vol- ume——but they will have to keep a close check on the availability of certain specialty grades." siles were under construction in Cuba began last July from Cu- ban refugees and other sources. But reports appeared nebulous ‘and contradictory. Aerial sur- Iveillance showed that the mis- The. aerial photographs. which eventually led to imposition of- S. naval blockade in the Car- lbbean. were made Sunday. Oct. ‘ 14. and their development and inter_nret.atlon were completed silt’! reported were nothing "T"da-V' Wm‘ ‘’i’e‘'3”°“'‘ “' y pm. the. following night. .more than the well-icnnirn .1.-. ‘C-‘F ll‘-an fill her rent of rava- Thc informant said that fensive, ground-to-air type with ""-": 'h,".“°‘ “" "".‘5°". mt pan” though the photographs were a range of about 25 miles. b“-“”E‘ ”"’ P”b1""at‘°" stat"-5' described as “the first evidence But late in September Amer- m3l§3Wlll€_ I‘8D0}'l5 Steel of ballistic sites." they actually ican intelligence officers be- mdem 8”’ r”"'""g “V9 l“ 10 only showed "scratchingzs on came suspicious. They noted ant V" “M “mad “{ 1"“ "“’“""’ the ground." No vehicles and unusual heavy increase in So-mace’ no missile erectors could be seen. There. was no "positive"‘ proof on which to base accusa. lions against. Russia. with knowledge of the spacinn of missiles on Soviet ballistic sites. the location of‘ control bunkers and storage for nucle;.r warheads. intelligence otiiccrs concluded the sites in Cuba were identical to nuclear sites in Russia. Oct. 16. Kennedy ordered a aerial surveillance of the American aerial recon-‘ ce. which had been up- dertaken sporadically since the vie: shipping to Cuba. On Sep. 28-—cr thereabnuts—-—an Ameri- can plane Photographed a So- viet ship at sea. loaded with heavy crates that seemed not in be of the kind that might contain ground-to-air missiles. but rather of the. kind that might contain transport plane fusclages or those for the Soviet IL-28 jet. bombers. by Cuban developments--«and 17 remain to be heard. ‘ Besides the Anglo—Amerlcan ‘draft. the committee has before it a 32-country resolution that would ma e p . 1 a cutoff date for all tests. The Western nuclear powers. while express- iniz support for aspects of the resolution. fear it would mean Thor. came. reports that trail- an unpoliced moratorium [for _ers with long cylindrical crates underground tests for which aboard were seen on Cubanit ov feel verlficatlon in roads. US intelligence officers quired. ibecame anxious. Sunday. The Soviet Union maintalnsi 14. a special aerial surveillance that detection instruments now abortive 1961 Cuban invasion. was sent aloft. it photographed ‘are so efficient that no nuclear had been Slellhed up '0 ""9 full the bush clearings and ground ‘tests could be conducted any- flight a day late in September. I markings. where in secret. The U.s. and Under Kennedy's orders. recon- Monday, Oct. 15. the inielli— lnritain say they can identify naissance by U7ldlSClOSP.dl gence men ecame convincedltests everywhere but or- number of planes described asl Cuba was being turned into an lground and they doubt that 1'!- Cuban Crisis Cited At UN l S ° this score. . ~WhatThe Marri As Lesson In Disarmament age By JOSEPH MMSWEEN ‘the other." Godber declared. Manuals DON"l' Say UNITE” NATIONS ‘CP)“t Godber urged acceptance of Did you know that almost every since The Cuban crisis is being cited marriage manual wnt Ian Anglo-American resolution 2 B 3. women in] disarmament debate. as s . . by masculine standards? A drunnflc 1955,," in how "aces. which offers the Soviet Union a .forthng_ht. article in Novembar earier s Digest reveals that in any it is to halt nuclear bomb treaty banning all tests under . all the discuunon o huts and the spread of nuclear international verification or else no. ll" Unpoliced ban of tests in the “"d '" Wm‘ f"."d’“’."'“"’l he“ 3,19,“. The Netherlands and] atmosphere. in outer space or "‘h°"t H" ’°"t'°“‘h'P.h°t""°“ swan Fl-idgy the United in the sea. but not Including me" And wow" ""’ hem‘ ‘- Sovet Union collisionllmderflround tests. fl Ifigtyffd’ ""’ Yhg over Cuba underlines the grav-1 Fifty-one countries now have you am explore a eompletgly fly :0! the situation created byltaken part in the nuclear de- pg " _ nuclear armament. new road to true com . ie—~overshadowed this week ' Buick has an even wider selection for you in i963. 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