The Montreal Star from Montreal, Quebec, Canada • 2

mm FI xft mto mUm Jk 4Jntiwi hm I THE MONTREAL STAR THURSDAY JANUARY 20 1972 AL Closer US watch on stocks It NEWS( in Brief 2 judges to probe TV case Rhodesia jibe rains Home Casey in his proposal to Congress The SEC chairman is also seeking (lie right to review all disciplinary proceedings by stock exchanges and other self-regulatory bodies This he feels would help assure that discipline is administered fairly to members and "that the penalties imposed take into account the public interest Under this proposal the commission is seeking the power to affirm disaffirm or modify in any way it deems required penalties Imposed on members by self-regulatory bodies The New York Times in commenting on Mr request for greater authority and more personnel says these might go a long way toward answering the criticism of self-regulation expressed by those who feel that self-interest of all industry bodies 1 effective self-regulation Nineteen prominent economists suggested in a letter to Congress that the defence of the public interest through regulation by the New York exchange was a like having the rabbits guard the The newspaper added that many Wall Street leaders displayed a "surprising willingness to Mr proposals NYSE president Robert Hack said he already was on record as favoring some of the SEC proposals And a prominent New York investment firm executive put it this way: theory I guess we all hate to see more regulation but we all want to see things work well so I guess I'm not really upset about capacity of the securities industry This is vital in an era when 15-million-share days arc common on the NYSE Last June the SEC sponsored a conference to discuss a variety of proposals to deal with the stock certificate and began examinations of the performance of the transfer agents who handle the transfer of share certificates from one owner to another following a transaction On Oct 12 the commission began hearings on the restructuring of the securities markets But the government supervisory authority is not restricting itself to calling and attending meetings Last November it asked Congress for a budget increase to boost its staff by roughly 150 Of these 116 will be used in the financial and operational area and to review financial and operational reports submitted by broker-dealers 'use of the remainder gives a significant indication of the commission's present thinking Fifteen are to be designated inspectors of brokers and dealers who are not members of the National Association of Securities Dealers Another 25 will inspect the operations of NASD members Sixteen other persons will work with the various self-regulatory organizations such as stock exchanges to co-ordinate general supervision and six have been designated to concentrate on a special project to eliminate or immobilize stock certificates The commission is also seeking additional statutory authority to "prevent a recurrence of the recently encountered and to "furnish needed protection for investors as well as to maintain a strong and viable securities One proposal calls for a legal requirement on the part of brokers and dealers to provide their customers with adequate information about their own financial condition The new rule would require brokers to send directly to their customers financial statements approximately as detailed as those they get from companies in which they are considering an investment The SEC is also seeking the power to regulate the rules of self-regulatory bodies such as stock exchanges It has also revived a request it made in 1941 for "specific enforcement authority as an effective remedy against and lax by the self-regulatory bodies of their ewn "As was stated then the commission would not expect to resort to direct proceedings in ordinary situations but only when a self-regulatory body permitted a member to escape disciplinary proceedings to the detriment of the public said Mr Special to The Star QUEBEC Two judges will preside over a Quebec Police Commission Inquiry into the conduct of Montreal Police Director Jcan-Jacques Saulnicr a commission spokesman announced today The inquiry starts in Montreal at 10 am tomorrow on the fifth floor of the new justice department building It is expected to be open to the public The commission said that its president and vice-president Judge Roger Gosselin and Judge Ludovic Lapcr-rierc will preside over the hearings the first time that two judges have been involved in a single inquiry Justice Minister Jerome Choquette has said the mandate is to study the conduct of Mr Saulnier prior to his appointment as police director with particular attention to a published report that Mr Saulnicr accepted a color television set from a hotel owner in 1966 The report in Le Devoir was said to have been based on the findings of an investigation conducted by the police department in 1966 when Mr Saulnier was head of the morality squad Mayor Jean Drapeau said at a press conference in Montreal Tuesday that Mr Saulnier had returned the TV set but he refused to say when the Rhodesian independence dispute: The seven commission teams at present are slogging their way through deep mud and crossing rivers and streams in their search for a reliable guide to African rural opinion about the Anglo-Rhodesian settlement terms In Salisbury and Fort Victoria the riots erupted soon after the announcement of the detention of the two European supporters of the African nationalist anti-settlement campaign former Southern Rhodesia prime minister Garfield Todd and his daughter Judy Both had been actively campaigning for the African National Goundl militant spearhead of African opposition to the terms for finally granting Rhodesia independence under a continuing white minority government Fort Victoria blew up just a two commissioners probing African opinion in that area had aborted a meeting when chanting ANC cheerleaders foiled their attempts to get individual African opinion Canadian Press LONDON British Foreign Secretary Sir Alec Douglas-Home was described in the Commons as "a twopenny ha'penny washerwoman" as the Labor opposition seethed over Ian strong-arm tactics in the Rhodesian settlement crisis But while demands pile up that the Pearce commission testing African opinion on Anglo-Rhodesian set-1 1 terms should be brought home Sir Alec appears to be desperately playing for time apparently hoping the black riots can be quelled As the foreign secretary sent his top Rhodesian expert to find out what is going on in a 1 i reports flowed to London of continuing riots with chanting Africans roaring out to the terms which would legalize Rhodesian independence The Commons erupted yesterday' after Smith jailed former Southern Rhodesian premier Garfield Todd and his 28-year-old daughter Judith on what he described as a security measure British opinion in and out of the Commons is that the Todds were detained because they are sympathetic to the anti-settlement campaign Sir Alec 68 became the centre of opposition attacks as he argued that it is up to the Pearce -commission to decide whether it can carry out its work As for freeing the Todds Parliament was well aware that the British government could exert no political power over the Smith regime Unsatisfied Opposition Leader Harold Wilson demanded that Sir Alec assert the government's position adding: these matters it is no good you standing at that dispatch box wringing your hands like a two 'penny washerwoman" Blazing with anger Sir Alec retorted that when Wilson was in power he had to tell the House apologetically that his government could not stop the hangings that were going on in Rhodesia at the time As the opposition roared and jeered Sir Alec insisted that what the present government is trying to do is to use what influence it has to help the Africans When he heard of the arrest he immediately demanded an explanation from Smith who maintained the detentions including three African leaders were based solely on security and the need to maintain law and order Three blacks killed (Continued from Page One) A senior British official was on way from London to make an on-the-spot assessment of the situation for the British government Police used tear gas to break up groups of the rioters in Harari home of 60000 Africans Tear gas was also used to avoid another outbreak of Gwelo-style violence in the town of Fort Victoria 200 miles to the south of the main Salisbury-South Africa highway Africans ransacked a liquor store set fire to a tractor and stoned a government building a clinic a police truck and a butcher shop in Fort Victoria's African suburb of Mucheke where 10000 Africans live segregated from the farming 3000 whites Two Africans in Mucheke were re-ported to have been shot and wounded Today government officials were privately linking the new wave of unrest with the presence in the country of the British commission to test opinion about the terms of settling (Continued from Page One) markets in the 1967-70 period a crisis Mr Casey described as the most prolonged and severe since the years immediately following the great rrash of 1929 In a letter accompanying the "Study on Unsafe and Unsound Mr Casey said he recognized that some corrective measures pro-' posed by the SEC will represent burdens and costs to the securities industry wc believe that the increase in public confidence which will flow from measures to protect public funds far exceeds the burdens and costs of implementing such he continued "The ultimate objective in improving business practices in the securities industry is to serve and protect the investors of this country and the free world so that they will entrust their savings to the privately-owned and operated sector of our economy" Mr Casey said that to merit public trust the industry must assure investors that their savings put to work in capital markets are against structural that they have reliable information about the companies in which they invest and the markets are fair honest and efficient in establishing the values of A somewhat irreverent SEC staffer put it this way: not here to prevent crap games here to make sure the dice The SEC chairman has proposed a multi-pronged program of corrective measures to deal with the crisis of confidence and other problems con-fronting the investment industry Some measures were taken during the last year Last April 19 the SEC called a meeting of the major self-regulator organizations including the New York Stock Exchange to discuss the immediate and long-term solutions for increasing the operational Elephant trainer cleared in death Associated Press BEIRUT A Lebanese court yesterday acquitted South African elephant trainer Karl Graham Fisher-Lloyd of the murder of British topless dancer Margaret Clougher Fisher-Lloyd 24 and the woman both appeared in a show at a casino near Beirut She was found stabbed May 30 1970 Fisher-Lloyd was arrested after he admitted slapping her once because she had been unkind to his elephants of great powers to live together on the same planet despite their differences "We would not be true to our obligation to generations yet unborn if we failed to seize this moment to do everything in our power to insure that we will be able to talk about these differences rather than fight about them would be a serious mistake to say that nothing can come out of our expanded communications with Peking and Moscow But it would also be a mistake to expect too much too The president pledged a continuing strong commitment to freedom throughout the world while repealing his frequent calls on others to bear their fair share for their own defence He said the United States will maintain a nuclear deterrent to meet any threat to itself or its allies help other countries to develop their defences faithfully honor all its treaty commitments and defend its interests wherever they are threatened He stressed that it would be a dangerous error to conclude that the United States is withdrawing from all or most of its international responsibilities while reducing its military involvement "But where our interests and our treaty commitments are not involved our role will be he declared emphasizing the Nixon doctrine of withdrawing US ground forces from Asia and other areas of the world will not intervene militarily But we will use our influence to prevent The president said his new anti-inflationary policies are making headway But he acknowledged that the record is not good enough because the country still has an unemployment rate of six per cent He said the recent international agreement to devaluate the US dollar as part of a major realignment of world currencies will help the US economy by providing new markets for American products and new jobs for American workers Quebec UN1TE-QUEBEC PURGE Unite-Quebec party membership is open to all who wish to join in an honest sincere and democratic manner Gabriel Loubier party leader told a party meeting yesterday He said "string pullers election riggers shndy financiers and gimmicky organizers" must be purged from the party ranks TALK ON DISPUTE Jcan-Paul minister for the civil service said in Quebec yesterday he will discuss the dispute between Quebec and Ottawa over unemployment insurance with representatives of the 250000 public employees next Friday Canada FLASH OPPOSITION Prison guards at the British Col-umbla penitentiary said yesterday they would inform the acting director of the penitentiary today of their intention to "work to standards" because of the "forcing of bilingual shoulder on the guards AIR PLANT STRIKE The 918 members of Local 112 of the United Auto Workers Union went on strike at De Havilland Aircraft of Canada Ltd in Toronto today Union and company negotiators have failed to reach agreement on the issue of processing grievances The company has refused to discuss other Issues including wages until the issue is resolved CHANCELLOR MARTIN Senator Paul Martin will become nWanrellnr of Waterloo Lutheran University next spring He succeeds Lieut-Gov Ross Macdonald chancellor since 1964 US DOCKERS READY Harry Bridges president of the International Longshoremen and Union said in San Francisco last night the union is ready to resume negotiations in the west coast dock strike The strike resumed Monday after a 23-hour negotiating session broke up SOVIETS UP ANCHOR The two Soviet fishing vessels accused of violating US waters are now plowing toward the Aleutian Island of Adak after agreeing abruptly to end their 24-hour stop off Matthew Island Europe CHARLES IN PILEUP Prince Charles bent his Aston Martin sports car in a five-vehicle pileup in Portsmouth England today but got out unhurt The 22-yearald Charles had stopped for a traffic light when another car hit his car from behind and pushed it into the car in front Two other cars got into the tangle but all were only slightly damaged POPE Mexican priest the Rev Joaquin Saenz Arriaga excommunicated for harshly criticizing Pope Paul alleged in Rome last night that the Pope is a Jew and is supported by the forces of world-wide freemasonry The excom-i mnnipfltinn resulted from his publics-- tion of a book called the New Mon-: mian Church a reference to Pope surname Montini Language proposals studied The Quebec Bureau QUEBEC Premier Bourassa is in proposals for draft legislation on language prepared by an organization called the Mouvement Qua frangais and has instructed senior civil servants to study them Mr Bourassa told reporters be wants to know the constitutional of the presented to him yester-tfcy before deciding whether to accept them it However considering Mr past statements on the language gsue it is unlikely that he will make vny decision on the proposals until he receives the report of the Gendron commission on the status of French The first part of the commission's report dealing with French as the province's working language is to be Sanded to the government by the end Military budget increases (Continued from Page One) million to improve the navy's nuclear deterrent faces Government sources have said that current military spending of (76 billion is expected to rise to about (83 billion in the financial year beginning July 1 The president said there has been encouraging progress in strategic arms-limitation talks with the Soviet Union and he hopes there will be an agreement on a mutual reduction of arms "But until there is such an agreement we must maintain the strength necessary to deter he declared Strong military defences are not the enemy of peace they are the guardians of he said "There could be no more misguided set of priorities than one which would tempt others by weakening America and thereby endanger the peace of the personal 4 000-word report was accompanied by a 15 000-word written message in which he stressed 90 legislative proposals he submitted in the first three years of his four-year presidency that Congress has ignored The proposals include programs for helping ageing Americans combating crime and drug abuse improving health services modernizing public transportation and dealing with strikes in the transportation industry The president dealt only briefly with developments overseas leaving his views on major foreign policy problems for a special message to go to Congress Feb 8 The message will be submitted two weeks before he leaves for Peking with the announced aim of trying to improve relations with China after more than two decades of separation and hostility Of his planned visits to China and to the Soviet Union in May the president said: shall go there without illusions We have great differences with both powers We will contiue to have great differences peace depends on the ability I Trouble VIC TAMBOV ''Professional Can Help! Our instructresses and instructors (or professional losers as wo call them) are specially trained and taken thousands of inches and pounds off women's figure trouble spots The "professional losers" will prove how the exclusive Vic Tanny "dT" system really works where diets fail You can loss 10 20 or even 30 pounds in as little as 20 visits Bo our guest for a fr so trial visit Enjoy a refreshing swim relaxing steam sun and sauna room and a sootiiing massaging hot whirlpool bath and make Vic Tannys Your No 1 New Year's Resolution Arrest leads city police to $60000 in bank loot FOR A FREE TRIAL VISIT CAU: COTE ST LUC ROCKLAND SH0PPIN0 SHOPPING CENTRE CENTRE PUCE BONAVENTURE WEST ISLAND MALL OAQI) longueuil VILLE LASALLE CHOMEDEY VT cf March If The remaining three parts are to 4je submitted by the end of this year I) The Mouvement Quebec frangais up of labor organizations associations and nationalist Societies proposed legislation making French the province's official language labile protecting English language ijgflt 0 4 The arrest of a 40-year-old man here last weekend has led to the recovery of (60000 of the (11 million stolen from a bank in Windsor Ont The money was found in six bundles of (100 bills iq a safety deposit box at a west-end branch of the Bank of Montreal Police in Ontario and Quebec have recovered (240000 so far and they' believe more of the stolen money is in the Montreal area Seven persons six from Ontario have been charged In the Dec 18 holdup at a branch of the Royal Bank of Canada 4.