The Ottawa Journal from Ottawa,  on August 29, 1964 · Page 9
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The Ottawa Journal from Ottawa, · Page 9

Ottawa, Canada
Issue Date:
Saturday, August 29, 1964
Page 9
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Page 9 article text (OCR)

SATURDAY, AUOUST 29, 1964 Some comparisons with Canada are revealing:" In Sweden, gross national product is rising st a rate of per cent a year in real terms; In 1963 Canada's GNP gained 4.6 per cent after taking price increases into account Consumer goods prices in Sweden during the past four years have risen 14 per cent; one of the notable features of the recovery since 1961 in Canada and the U.S. has been the moderate increase in prices. The Swedish economy, moreover, has been boiling along, . stimulated by government spending, at a time when monetary policy for the most part has been aimed st restraint Ever since 19S8 the money supply has been growing faster than gross national product ' ' ' ' f . 'Dealer of the Year' , . FOR THE SECOND TIME in three years. Allied Building Supply (Ottawa) Limited, 2932 Base Line Road, has been named "Dealer of the Year" in the competition soon-xsored by the Federal Department of Labor, end the Building Supply Dealer magazine. .it t U-Ai'ti At a reception in the Chateau Laurier this week, Labor-Minister Allen J. MscEachen presented an engraved plaque to Frank T.'. Ellis, the company's manager of retail tales, who submitted the entry. Robert Campeatc president of Campeau Construction Co. Ltd. (of which ABS Is a ' subsidiary) was host t This competition is concerned with merchandlsmg'and promotion of building supplies with special emphasis on Winter sales. Improvement In retail sales, tales to contractors, factory-built homes, cottages and garages and other lines, plus home Improvement ell contributed to the company's success. - ' From Here and There , ! ! JAMES RICHARDSON g SONS In their August "In-.vestment Securities Review" give definitions of some f the terms leverage, cash flow, and current ratio usfd by securities analysts , . , Imperial O0 Limited has Just published its latest edition of "Facts and Figure About OH mvCanada" . . . Total Ufa insurance and annuity bene-. I Fit- j,ln tp k.ll lAAi . ' r M w " avw wnuumoi iq Sotie(UHB -- 13 per cent increase over the same period of 1963, the Canadian Life Insurance Officers' Association reports . . ; ssst received are "Facta and Figures (of the Automotive Industry. 1964 edition, published by the Motor Vehicle Manufacturers Association, and The Natural Gas Industry in Canada, 1961 and J 963." prepared by R. A. Simpson and 0. W.'RuUedge of the Mineral Resource Division of Mines m avuhinbi durveyx, - - . V . Veil Jit . Another Important use maa makes of them is to. obtain iodine from certain kinds. Some varieties of seaweeds. such as dulse and Irish mots. can be eaten. The Chinese and Japanese cook seaweed 'with fitb and eat it Instead of vegetables. There is one kind of algae. the diatoms, which even have tiny shells. As these algae die, the shells .fall to the bottom and form deposits many feet In thickness. Algae are also a primary source of food for all water animals. The smaller ones feed on them, end the larger water animals then feed on the small- ' ones. ' Red algae can color the water In which they live and the Red Sea Is so called because of the red algae which live there. , , ; , , .. ., FUN TIME The Cbnckle Bes . . Maryi What's ; your new brother's name? , Jane: I don't know yet. We can't understand a word he tays. ...... - .. ,' RESUMES 236-3178 PROPERTY OWNERS Guaranty Trust Co. ' of Canada : Offers you a complete and efficient PROPERTY MANAGEMENT SERVICE .- ' ' IN Bank Street THE OTTAWA JOURNAL Curbing U.S. Inflows? ' HAS THE BANK OF CANADA been operating in the forward exchange ' market to make "hedged" Inveatments m ahort-term Canadian securities leas attractive to U.S. investors, and thua to curuil shorMenn capital inflows? Wit aa estimated $204 milikm la new issues await-tag placement la New York, once President Johnson algna the fortiga securities las bill, a caae might be mad for central bank action to keep abort-term Inflows from eweHing the tide of capital coming in from pending borrowing m the US. . The unique situation In the money market appears to be that short term Interest rates in Canada have risen 5 par cent or more sine mid-July, despite the central bank mopping up some S1S2 million in dl-investment in treasury bills by the chartered banks,' government accounts, and the general public. But there has been a heavy demand for "spot" Canadian dollars (for immediate delivery) without corresponding strength in "forward" dollars, wiping out the net yield advantage to American investors that .existed around the - end of July. Money market dealers say the strong demand for "spot" stemmed initially from needs to settle grain purchases made abroad. So, it is argued, the exchange situation is being permitted ta exist as a precautionary nasisfs by the now-tary authorities. . . , ; In such "swap" transactions,' you buy "spot". Canadian, dollars and sell "forward" to guard against the risk of exchange rate fluctuation. The "net yield" advantage is the combination of the spread in short-term interest rates .between Canada and the U.S. and the cost of forward exchange "cover.") - Fended Off Inflows '. While this is pure supposition, it is true that the Bank of Canada earlier this year "fended off" short-term Inflows,. "In part by operating in the forward exchange market in order to moderate any tendency of the covered interest rat differential to widen sufficiently to induce this type Of inflow". The words are Governor Rasminsky's. .Io any case, the effect has been to add to the already existing pressures in the Canadian short term money market Several weeks ago Gairdner at Co. commented that "heavy borrowing demand by Canadian commercial borrowers has been added to by the unexpected need for those borrowers with obligations maturing in the hands of U.S. investors to refinance maturities." i To illustrate, the average closing rate on day-to-day loans from the chartered banks has risen nearly 84 per cent between July 29 and Aug. 19. In the week of Aug. 3, ' money market Jobbers' borrowings from the central bank under purchase and resale agreements reached a peak of ' $44 million. ' The situation now exists: where the Bank of Canada's rate to money market dealers is above the 4 per cent bank rate, suggesting the bank rate might be adjusted upwards to confirm this new yield level. The rediscount rat. ( quarter of one per cent above the 91-day treasury bill yield, at present 3.81 per cent." By Aug. 20, dealers' inventories of short-term securities normally financed by day-to-day loans had been reduced and the latest Bank of Canada weekly financial statistics show dealers did not have recourse to rediscount, facilities for the first time in three weeks. However, the chartered banks' liquid assets position (ratio of cash reserve, treasury bills and day-to-day loans to deposits) still appears "tight" at 16J3 per cent Aug. 1-19, compared with the July average of 17.11 per cent. A compensating factor ik that general loans may have reached their seasonal peak. The total of $8,058 million at Aug. 12 was unchanged from a week earlier. Wrong 'Mix' in Sweden SWEDEN'S BOOMING economy appears to be suffering from the wrong mix of monetary and fiscal policies, in sharp contrast to Canada. The Morgan Guaranty Survey of New York says t deliberate program of deficit spending, begun last year to speed up economic growth, "Is being continued and intensified even though Sweden is well into boom of generous proportions." This has brought concern lest the economy Is expending a Mt too fast for Us ewa good. Sweden Is afflicted with labor shortages, price Inflation, and possibly loss of export trade which makes up some M per cent of PLAYS BY NEW PROCESS - ' It will soon be possible to see' important Broadway attractions and other events of this nature in local motion picture theatres as a result of the new Elec-tranovision process and Theatrofiim. The above sketch shows bow this I new process uses Electronovision cameras which are able to capture action of dramatic productions by using only the available light of the ' theatre. Working in a darkened theatre, as many as IS Electronovision cameras may be operated simul . , Ape Algae of Any Use? ' Win the IS-volume BriUmnica Junior Encyclopedia for school and home. Send tour auestloni, name, age, addrett to "Ten M Why!" cart of The Ottawa Journal. In earn of duplicate quettiont, the author will decide the winner. Today winner It: Boteanne Mangini, Waterbuiy, Conn. If you have a fish tank at; home, and If you've bad to clean out the green scum that gathers! on the water, then you probably regard alga as fust a nuisance. For that green scum, as well ss the slippery weeds that tangle around your feet when you swim are algae. Algae grow ail over the world in swamps, ponds, lakes, rivers. and even oceans. . There are thousands of kinds of algae, from the fine spongy stuff In your aquarium to tough, leath ery eeaweeds which may be more .than IN feet long! Alga are among the most primitive forms of plant life. Some of them always remain single, independent ceils. Others bud out one cell from another. forming long beadlike strings. Still others bud and mass about one another In graceful pat terns as they form an intricate network of cells. All algae contain a green sub stance called chlorophyll. It Is this which enables them to absorb the sun's rays and to manufacture their own food. Algae are related to fungi, but differ in having this chlorophyll. In addition to chlorophyll. tome of the larger ocean seaweeds and kelps contain yellowish brown pigment Some of these brown algae have stems so thick and tough that they useful. be used for ropes so is one way algae can be Billy: Mother, I lust took splinter out of my hand with pin. Mother: A pint Don't you know that s dangerous? Billy: Oh. but 1 used a safe ty pin. ll I I WHY WE SAY IT K governor of a Mate Is some times said to "direct the ship of state." The word "governor" comes - ' from the Creek word "kybernao," which meant to "direct a ship." The Romans changed this to "guberno" , APPOINTMENT PETER A. SZDEY Morton Baalaw, President of Morton Baalaw and Company Limited la pleeaed to announce the appointment of Peter A. Kidey as Art Director. Mr. Sidey baa over U year experience In the craphle art and rtvartlsrag field and Is a graduate of the Pamoas Artiste school of New York. VALUABLE CARLIKG AVE. co:.:::.EnciAL COMER lo?rl-Carto.raai 155 rt-4rsatfTisw knm Immediately East, of Sampan Restaurant 23,339 SQUARE FEET Price $85,000 FOR DETAILS CALL JACK GORDON 725-5555 AlOCMIIUlTOSr, in Kama, mortgauq 197 Sparks Street t32-?l&5 taneously to record the play. This' number of cameras was used to capture Richard Burton's "Hamlet" The captured images are recorded and packaged for distribution to motion picture theatres where audiences may view "live" Broadway productions on the Theatrofiim screen. The first of these, Hamlet, will be shown all over North America, Sept 23 and 24, including the Capitol Theatre in Ottawa. and today we have the word governor" who "directs the ship" of state! . Answer to yesterdays Puixle Box. Strike out: the first "1". In 111"; the last "J" In "333"; all the "S's"; the last 'T In 777"; att the "'s". Win the Britanntca World AUat or Yearbook of Kvent. Bend pour riddles, joke to: Biddlet. Jokes. "Tell Me Whet" Todatt winner it: Anita Ramlret. t. SI Paso, Texai. HOME OWNERS WASHINGTON Home own ers in the VS. have increased 71 per cent in number since 1940, end the number of renter-occupied units increased only S per cant . , Journal Want quick results. Ads bring Abell Named To Industries Advisory tPosr (By The CP) Appointment of Angus Sinclair AbeH as eco nomic adviser to the Industry Department effective Sept 1 was announced Thursday. The native of Keewetin, Ont, has had a varied career in the Civil Service ta Ottawa. . Prior to his new appoint meet, he was director of the Finance Department's division on federal-provincial relations. He is a former chairman of the Canadian Farm Loan Board aod was secretary of the Royal Commission on Newfoundland Finances. It POLICEMEN DROWNED RANGOON. Burma (AP- Elevea policemen ea route to reinforce a unit engaged in a gun battle with- Communist guerrillas drowned when their patrol boat 'sank after being drawn into a whirlpool, a newt report from the Moulmela district, some MS miles southeast of here, said Thursday, Wkmm Yea Are I e siring fee Ik Bt la INVESTMENTS Mates! Faadt Telephone Come la Write , John Grshzn COMPANY LIMITED OTTAWA Om 43 wra tKpttUm wnnuiv MrMaf OtUw aa Ana Istaun. Attention PROFESSIONALS OFFICE and SHOWROOM SPACE New air-conditioned building Rideau and Augusta SS-SQ aq. ft ' '233-3611 749-7248 aaoKsa-e Biosrrs pbotsctbd HARDWARE SALESMAN , Opportunity for aa aggressive wholesale hardware salesman to cover the Ottawa Valley. Must have some hardware experience and a. proven sales background. Reply giving full tales experience, Basse, address and telephone number to Box E-e7, Ottawa Journal. MOOT ST..JUDE NURSING HOME 32 Fraser Road, South Hull, P.Q. Opening September 8th, 1964 if you are looking for an ideal spot for chronically ill, convalescing or aged people's nursing home, you are welcome to come and visit Mont St.Jude with its bright rooms, all equipped with the latest in hospital furniture. ACCOMMODATIONS Dfttar't Wrict IrjWeft teTitJ Metllceirie Mwcm srdta Mck mm Jtm serrke (mm I aid b$Q rmtk hlepWai br ua fetimt 7 rtfjuflM rtasji tHI TV, ram mi turn ; Urn Isetr iMaiihsi terrsc fvt pntocfita rrftM a? 2, J. 4, tsCfMsu m houutioi m iBaunoi wnunntu-nu From 9 to 12 sm,-From 1 to 8 pan. raw TOR ML . ? , V . x J - - k -" - .Jfi ' ' ' I : - tv - il DURING

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