The Ottawa Journal from Ottawa,  on August 20, 1964 · Page 9
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The Ottawa Journal from Ottawa, · Page 9

Ottawa, Canada
Issue Date:
Thursday, August 20, 1964
Page 9
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Whatever the motive, it's not -''now an approach the author!-J Jles can, take to the same extent that' was done to the fifties, even If wanted to. , , MONETARY MEASURES Other- considerations apart, the use of monetary measures to contain inflation is decidedly ' limited by balance of payments considerations. They can be employed only to the extent that they are employed In other countries. ' A sharp rise in interest rates her while American rates main stable would attract Amer ican dollars to a. dgeree that would be Just as embarrassing. to payments and. reserves eon- ((derations, as unchecked Infla-, Uon would .be 'in other aspect of the' economy. Quit : clearly, , monetary' measures must be supplemented by other measures if Inflation is to be successfully contained. - The surest support is suggest-, ed tn the enunciation of. a na- ' ttonal wages and prices policy in which guidelines to accept- ' able wage and prices Increases act set down and adherence; so them persuaded by the weight: of public opinion. , , I This baa been the practice to the United States, originating with the guidelines set dowa in special report by the President Council of Economic Advisors, guideline based upon the rat of increase to produe-trvlty.;.. ,.. ' .,...:.; t ,,:. j la essence, the report argued for price stability by keeping increases la - labor ' costs to amounts that can be absorbed by Increases la output per worker. It further argued for price re-; d actions where increases hi output in a particular industry exceeded the national average and acknowledged the validity of price increase only where increases J output lagged behind ' the national average. .These guidelines have so far , been generally followed although the current automobile Industry , negotiations auy be aa exception. ' . The requirement of price stability Is much snore argent here than la the United States. And. ft, must be said, ha so far been generally met , ' The approach to the bargaining table has been restrained; labor baa evinced a far more active appreciation of management'! .position than management' would have admitted to be possible Qve years ago. , Management for it part, has kept price down. In part In response to - competitive pres- sure. In larger part Irrora. the I tame recognition of the dangers I of once mora pricing goods off !. the market. . I RESTRAINT BREAKING 3DOWJ ..v;-r i Tar all that there are tnv mistakeable signs that the pros-i parity experienced over the last .'three years and the prospects '.for continuing to experience It 'over the next three are beginning to' break down those restraints. ., " i f r g) has a, Wohon. or tow en a S?S Ornish i ADAMS ; . FunniTURE C trm ferkint ftack of IS. v. . v? they'd be Impossible tc. admin ister even If desirable. There is no suggestion, either, that labor must rest content with current wages and, benefits. i . --" But, unless wt are to become cauaht uD in - another wane- price spiral of the tort that per sisted through the fifties, there needs U: be some- stand a r d against which to measure the extent lo which wage and price increases can beVaf forded. Other countries have estab- oltUshed such standards. .Canada is the undistinguished exception.- I' . ' . ' Journal Want Ads bring quick results. ' Timimns Area May Get Deal (By' The CP) Special federal tax concessions could be granted to a smelter operation il one is located at Timmins in connection with the major ore strike neat that Northern On II "1 ll . A J I -l rn U:i sa-ailll If PLEASE NOTE! NO HOLD ORDERS! NO LAY-AWAYS! - ALL ORDERS FOR IMMEDIATE " " DELIVERY ' MB v-rfc.r t ..... VILAS ROCK MAPLE - V - 1 ' ' . . YUas swHel rack maple farnltere effsn ye flaw werk saaohtp aad slaapUeity af Mn ... a elykt aa wars -aad aa wekvaaing ka May's ihm aa H was la mlUtnT bassea ml the IStk eentarf. A tlaae hmk at each piece .' revaaat nMf mrkasanshlp dMctalled eentre-gitMrd -drawars wllk dastamf ahrMma, aathentie eaalal styUsw with cariMTS and edt wara" la' simoUte. sn .. and srear. and hang-rabbed nnhhea that enhance the .snellaw snsh at th nataral waod aramt. lank far th -kara-ln- Vllaa trad mark. Via will Sn It aa .evarr ' ptere at Vilas larallara hi the tent, and as rrery Vllaa taste, chair, kaltet, fcedraaav IHrlKf raws salt aale priced ta the Maple Shape (ted Br). H im em mm y -- 'f - -y y -1 THURSDAY, 'AUOUST 20, 1984 THE OTTAWA JOURNAL 9 I M ay ar 'Wageland Price Policy Needed in Canada . It' doubtful that wage and price lnfl4oa can be avoided iriuch longer. Demand hat already begun to weigh lo heavily upon supply to think otherwise. Shortages of skilled manpower are apparent in some areas. The Idle plant capacity still In being last Summer has since been taken up by the accelerated Increase in production through the Fall and Spring. The rate ot expansion is slower now than it was but another fourth quarter pick-up appears to be m the making and will almost certainly be reflected in higher wages and prices. .' , The conventional approach to - these, development! has. been lo apply the braking action of . higher interest rates and limited credit Indeed, there Is tome suggestion that the brakes are already being applied m the . recent rise in short term rate This may be reading too much into what appeared, at first, to be no more than a correction development within the market What is wanted is an empha' tic reminder of. the continuing need for wage and price stability: it would be best provided through the enunciation of a national wages and prices po licy similar to that enunciated in the United Stales. We might even go a step further with the establishment of an Incomes commission similar to that in England. There is no suggestion here ot a reversion to controls; lario town. State Secretary La- montagne aavisea the Tom' mans Wednesday. In a written reply for Arnold Peters (NDP Timiskaming), Mr. Lamontagne said Timmins is one of the designated low-economy areas where new man ufacturing and process ng plant! Qualify for tax breaks. The state secretary said the department af industry ."is fol lowing closely developments in the Tinunins area and Is- pre-p reef to provide assistance to interested companies to help them arrive at a decision regarding the establishment of smelting facilities.? UNDERGOES SURGERY BOSTON (AP) Everett IS. whose right arm was severed in a railroad accident two year ago and ih.n fullv remitted to his body. underwent reconstructive surgery Wednesday. Doctors said the operation was carried out successfully. The original replant was the first successful restoration of a human limb In medical history.. vi ti f ' ' ? vvrv txts r WEIGHING IN . Pie. Marcel Carpentier, 22. of Arvida, Que., right, , and Pte. Morris Berard, 21, of Magog, Que., help villager to weigh his wheat in Krini. a Turkish Cypriol community near Kyrenian Mountains. The soldiers are members of Canada's Royal 22nd Regiment, stationed in Cyprus as part of the United Nations' peace' keeping force. Despite disorder on the island, both Greek and Turkish Cypriot farmers are able to tmue harvesting, though on a reduced scale. I (CfJoumal Photol DAI! ON DOLLARS I , BARCELONA, Spain m Painter Salvador Dali, -whose works command high prices, is doing new one called "Deifi cation ot the Dollar." Dall told the news agency Logos that the painting will be "just dollars and more dollars." The agency predicted it would be his most expensive work. :'ij ';r..,,j,:ii via !-i Stock Averages roronte Averages Dividends By The Canadian Press The British Asnericaa WEDNESDAY I SO 10 15 9 114 ' I Indus Colds Base M W Oils Comb Net Chang . .. , .47 .52 .27 .19 .39 Close 159.39 135.22 67.64- 9U2 141.86 19m High .... 160.82 138.56' 68.06 102.14 150.03 1964 Low : 138.18 13030 58.95 81.08 129.42 Montreal Indices 65 13 7 8 85 ! Indus. Util. Bank Paper1 C'omp ' fhsnpe J .1 , .1 4.1 .1 Close 154.7 140.3 133.9 140.5 . 150 0 1964 High 157.2 141 9 134 0 142 0 151 6 1964 Low 131 9 121.6 118.9 188.2 129.7 N.Y. Averages (Dow Jones) Open High Low Close Chge JO Indu. ....... 842.13 847.19 838.24 841.76 1.07 20Ki' ...21138 212.05 209 54 210 86 0 79 ISUllls 149.08 149.69 148.73 149.29 028 tiSSttxks, 299.48 300 94 297.91 29927 041 30 Ind. 20 Kail. J5 (n.i ti' siks 964 Low 851.35 220.98 t 150.17 304.56 9C4 High . 76608 178 81 137.30 260 09 Note C.', SO cents. Sept. IS, rec ord Sept. 1. . Canada Permanent Mortgage iCarp., SO cents, Oct. 1, record sept, 9S. . Canadian Scudder Investment Fond Lld.. common cents, Aug. 31, recordVAug. Il. ijiooe envelopes lio., com mon Class A IJ cents, Nov. 2 record Oct. IS. Ingersell Machine aad Tool C. Ltd, .Class A 11 cents, Oct. 1, record Sept. IS. Watereu Equipment Ltd., IS1 mm 7 aJ 1,78 i A WUfT"-: - :s Vilas Fcara Cushioned Swivel Rocker Um Saam rubbat . cuskioa, sntlajiM. canaiatlaM finish. Vilas Plalfora Rocker, assorted fabrics VILAS SOFA 1 anlyt l-cwshlon wing back, button- pillow back ,snfa. rolled arm. fnam rubber cush ion. , box-pfrated valance. Col-'oni.V print fabric. Reg. $239 $159 EXTRA SALES STAFH SPOT BUDGET TERMS! Bt. ItU at, siu Loos loam rubber cushion, eandleirsht, cherry nupl ttalab. , Vilas Foam Cushioned Ann Chair Bet- 1S ' $78 Low back chair, loam rubber cushions, box-plealed fjounca, antlqua mapi llnish. . Vilas Foain Cushioned Wing Chair ., ,,.. $1C3 Mlah back chair, loaun ciuhktns. boa-pleat4 floanc. antlcjuc ntapl Bnian. Vilas 2-Piece Wing Back Living Room Suite .... m. $259 ' . Button! pillow bach of. matrhini etulr wltfe rTrihVt foam WUMf ouhloM, rolfed arm -iesser fasaww, wnrniai pi aaaaoi ssrssjasi avirnui Tcl KMffat. - v:u. R.i:.n. tn.i.L Va.:i ua HuiiquB riui.u lauuj lauia . ' , " .Vilas Single Drawer Night Tables, asst. .,,. Open lop ahelt, bottom drawer, antique, candkllf ht, cherry nupl Bnisk. Vilas 3-Drawer Antique Finished Chest Vilas Candlelight Double Dresser Base 'Vilas Red Maple Chest, Bookcase Top Vilas Cherry Maple Single Dresser Base : : Vilas 50" Antique Finish Coffee Table Vilas 50" Cherry Maple Buffet Base Vilas Candlelight Kneehole Desk " Bf. ,11 150 mas Booisiava, aBwtn. cbpbowdj, ukq, nc. OTTOMANS only I Leal than halt print Saml-loos roam rubber cushion, bo -pica led v.lanc. As sorted lal.rlca. . ' Reg. . 50.50 E m Sssofi anil 24-50 $37 37.83 in on b.s. ia.ij- Bft- IM $83 . SIM 8250 B. ! 74.83 B.s. ll.H 32.50 Be. 83.50 $1C3 cents, Sept. IS, record Aug. 11 Johns - Manville Corp., SO cents (U.S.), Sept. 10. record Aug. 31. The Ogilvie . Flour Mills Ce. Ltd., . i cents plus 10 cents extra:, Oct. 1. record Sept. 4. HARTT MAY GET POSf Mr. Justice Arthur Kelly of the Ontario Court of Appeal has recommended Toronto criminal lawyer E. P. Ham as counsel for his one-man royal commis sion into stock activities of W ndfall Oils and Mines Ltd and other Timmins-area mining companes. Mr. Hard has Indi cated his willingness and the Ontario government is expected to name him to the post soon. DINING ROOM TABLE, 4 CHAIRS ruyl C.ndleilah't SnUh ' touna ebarlt top table. (Ida chair ' - Reg. $249. '159 tot INDUSTRIAL TIPS Of the 33.tOO.OM karats of diamonds produced in IM2. almost 27,000.000 were industrial, but the fewer gems outvalued the others four limes. A DELIGHTFUL EXPERIENCE , . . SEA FOODS FRESH EVERY DAY ' Heaiiuarttrt far Fresh Fith and Stajood Sine IU1 BY WARD MARKET SHOP THE STORE! SHOP THE TENT BEH HID THE STORE! THIS IS THE BIG OWE! If you have beeA to Colonial already, go back again, sis merchandise Is sold it is replaced with new and different items. Look at the regular price! Look tt the sale price! Look a the savings! Look for the outstanding buys' In all departments! s mm It o V ajT-. K M. . I ssasaaaaBSsmaa - - "m. ROCK MAPLE DRESSERS, CHESTS, BEDS, CHAIRS, TABLES, SOFAS, SUITES VILAS 54-INCH , POSTER BEDS Your choice, antbsue, walnut. chrr maple. All t th am low price. Reg. : $78 49 .50 vr..:-";:;.:,

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