Financial
Timet
News
Service
OTTAWA
-
Guidelines
that
would
protect
all
Canadian
finan
financial
¬
cial
institutions
from
foreign
takeovers
are
expected
In
the
wake
of
this
months
abortive
bid
for
a
Canadian
finance
com
company
¬
pany
Finance
Minister
EJ
Benson
last
week
headed
off
a
US
bid
for
the
Traders
Group
Ltd
second
largest
Canadian
owned
sales
finance
company
with
an
announcement
that
foreigners
could
control
no
more
than
25
per
cent
of
the
shares
No
more
office
in
Ilazelton
Stan
Patterson
BC
Tele
Telephones
¬
phones
Terrace
District
Man
Manager
¬
ager
said
Hazelton
and
Kit
Kitwanga
¬
wanga
originally
were
schedul
scheduled
¬
ed
to
start
dial
service
October
20
but
some
rescheduling
of
construction
programs
had
been
necessary
and
this
set
back
the
date
The
company
has
installed
more
than
35000
feet
of
wire
and
cable
In
Kitwanga
and
is
con
connecting
¬
necting
an
80
line
portable
switching
office
there
to
pro
provide
¬
vide
dial
service
Total
cost
of
the
installations
is
116000
At
Hazelton
a
major
con
conversion
¬
version
job
is
involved
in
bring
bringing
¬
ing
dial
service
to
some
550
telephones
Service
has
been
provided
there
through
a
mag
magneto
¬
neto
switchboard
staffed
by
op
operators
¬
erators
The
automatic
exchange
installations
to
replace
this
manual
board
involve
a
capi
capital
¬
tal
outlay
exceeding
405000
this
j
ear
MdjHHflHBMHHff
IflKfliwHti
HliHMiWHrl
niiUfti
sBSBjif
lMKjilTf
f
IBxtaE
J1
The
former
Nechako
River
ferry
betwepn
Otway
and
Miworth
pro
provides
¬
vides
Jackie
McLeod
18
with
a
dry
place
to
bask
in
the
fall
sun
The
than
10
per
cent
can
be
held
by
any
one
foreigner
according
to
an
amendment
to
be
added
to
the
Investment
companies
bill
Now
the
government
is
plan
planning
¬
ning
to
close
its
ring
of
protec
protection
¬
tion
to
prevent
another
near
miss
like
Traders
or
a
success
successful
¬
ful
takeover
lue
the
Merrill
Lynch
Pieere
Fenner
and
Smith
bid
for
Royal
Securities
last
spring
Defensive
action
Ottawa
wants
to
set
out
the
rules
in
advance
rather
than
Duke
says
awards9
name
misleading
TORONTO
CP
-
Prince
Philip
sas
the
title
of
the
Duke
of
Edinburgh
Awards
is
some
what
misleading
Midwaj
through
a
punishing
round
of
appearances
across
Metropolitan
Toronto
Tuesday
Dial
phones
for
Hazelton
TERRACE
Dial
telephone
service
w
ill
begin
in
Ilazelton
on
December
8
the
BC
Telephone
Company
announced
today
Three
days
earlier
a
new
auto
automatic
¬
matic
switching
office
in
Kitwanga
about
25
miles
west
of
Hazelton
is
to
be
cut
into
ser
service
¬
vice
This
will
provide
dial
ser
service
¬
vice
to
residents
of
Kitwanga
which
currently
has
toll
line
connections
through
the
telephone
he
told
the
Womens
Canadian
Club
It
got
my
name
because
I
happened
to
be
chairman
of
the
committee
which
devised
the
scheme
and
when
it
came
to
choosing
a
name
I
was
outvoted
and
so
I
bowed
to
the
will
of
the
majoritj
He
said
the
scheme
arose
from
a
feeling
that
activities
in
schools
and
jouth
organizations
had
become
limited
and
in
man
wajs
unsuitable
in
mod
modern
¬
ern
conditions
The
awards
recognize
achievements
in
public
service
and
rescue
training
leisure
ac
tlvtties
fitness
and
expedition
-hikes
into
the
wilds
There
is
an
added
section
for
girls
called
design
for
living
which
includes
even
thing
fro
n
make
up
and
flower
arranging
to
baby
care
and
home
nursing
It
is
based
on
the
idea
that
education
is
a
far
wider
process
than
schools
and
that
it
should
Include
the
Influence
and
guid
ance
of
adults
other
than
par
parents
ents
and
teachers
he
said
The
prince
nut
the
citjs
poll
tlclans
and
reporters
spoke
to
students
toured
a
science
cen
tre
and
ended
the
dav
at
a
black
tie
naval
dinner
In
a
speech
prepared
for
the
dinner
which
was
released
to
the
press
but
which
he
did
not
deliver
he
said
people
angrj
at
civilization
have
a
choice
be
tween
continuing
the
struggle
to
Utopia
or
back
to
Monkey
Hill
It
was
a
choice
between
tear
ings
things
down
in
the
hope
something
better
would
emeige
or
of
building
on
the
experience
of
the
past
The
Prince
Is
on
a
private
visit
to
Canada
presenting
the
Duke
of
Edinburgh
awards
In
12
cities
Are
you
currently
driving
a
refrigerator
to
work
Theres
nothing
worse
than
stepping
into
an
ice
cold
car
for
your
morning
drive
to
work
For
pennies
a
day
an
electric
car
warmer
will
keep
your
cars
interior
warm
and
its
windows
frost
free
No
more
freezing
No
more
scraping
Treat
yourself
to
an
ELECTRIC
CAR
WARMER
two
abandoned
scows
last
used
tn
ferry
traffic
to
Prince
George
about
40
years
ago
lie
overgrown
by
brush
on
the
nveibank
Ottawa
plans
action
to
stop
foreigners
from
taking
over
Canadian
finance
firms
keep
reacting
to
takeover
threats
at
the
last
minute
Its
concern
was
reflected
in
last
weeks
appointment
of
Mr
Herb
Gray
to
the
minister
with
without
¬
out
portfolio
attached
to
the
fi
finance
¬
nance
department
where
his
special
concerns
will
include
fi
financial
¬
nancial
institutions
The
government
now
takes
the
view
that
the
finance
industry
should
be
treated
and
pro
protectedas
¬
tectedas
a
whole
and
not
pice
meal
The
main
effect
will
be
to
speed
up
its
efforts
to
devise
policy
for
the
Canadian
owner
ship
of
investment
dealers
and
stockbrokers
Banks
trust
and
insurance
companies
are
al
ready
protected
by
the
same
formula
used
for
sales
finance
companies
Mr
Benson
is
expected
to
re
receive
¬
ceive
a
finance
department
study
shortly
indicating
what
Ottawa
should
do
to
protect
the
Investment
industry
against
for
foreign
¬
eign
takeovers
The
study
was
set
up
last
spring
after
Royal
securitius
fell
into
American
hands
It
had
been
proceeding
slowly
because
the
industry
cccreed
a
morato-
Extra
jobs
for
police
DUNCAN
BC
CP-
The
late
Joe
Mottishaw
wis
given
a
full
time
job
as
police
chief
here
in
1917
A
letter
from
the
municipal
clerk
spelled
out
for
him
such
duties
as
meeting
trains
reading
electricity
meters
repairing
water
mains
and
sidewalks
and
taking
care
of
fire
fighting
gear
rlum
on
foreign
takeovers
and
set
up
its
own
study
of
foreign
ownership
under
Mr
Trevor
Moore
an
executive
of
Imperial
Oil
Ltd
Early
moves
Now
Ottawa
appears
to
be
planning
to
move
before
the
in
industrys
¬
dustrys
study
is
complete
It
will
probably
limit
the
amount
of
foreign
participation
in
the
Bank
of
Canadas
money
market
and
seek
provincial
support
for
its
proposed
guidelines
on
take
takeovers
¬
overs
The
government
cannot
move
on
its
own
because
most
invest
investment
¬
ment
dealers
are
provincially
chartered
Ottawa
controls
ac
access
¬
cess
to
the
list
of
15
dealers
that
deal
in
treasury
bills
and
enjoy
rediscount
facilities
at
the
Bank
of
Canada
But
on
its
own
it
could
not
prevent
a
foreign
owned
dealer
from
buying
and
selling
commercial
paper
in
the
money
market
One
problem
of
the
new
policy
may
be
to
persuade
the
pro
provinces
¬
vinces
to
go
along
The
Parizeau
commission
on
financial
institu
institutions
¬
tions
advised
the
Quebec
government
recently
that
it
should
not
restrict
foreign
take
overs
In
the
finance
industry
because
it
might
thereby
lose
foreign
capital
Officials
of
the
Traders
Group
were
not
available
to
comment
this
week
on
the
deal
that
Mr
Benson
vetoed
But
one
official
is
understood
to
have
pleaded
with
the
finance
minister
to
let
the
bid
go
through
When
he
announced
the
veto
Mr
Benson
said
the
government
considers
it
important
to
pre
serve
a
significant
Canadian-
controlled
element
in
the
sales
finance
and
loan
indstury
He
wanted
to
set
down
rules
to
avoid
another
misunderstanding
like
the
Mercantile
Bank
affair
of
1966
whpn
First
National
City
Bank
of
New
York
com
plained
it
had
not
been
warned
H
REICH
CATERING
LTD
We
cater
to
logging
mining
and
construction
camps
Also
available
20
man
self
contained
trailer
complex
by
Nov
15th
For
more
information
PHONE
563
8780
or
write
to
Box
586
Prince
George
ill
f
n
nHmm
BC
HYDRO
against
taking
over
the
Can
Canadian
¬
adian
bank
Traders
and
Industrial
Ac
Acceptance
¬
ceptance
Corp
together
have
close
to
half
the
sales
finance
business
in
Canada
Only
four
of
the
top
11
firms
in
the
in
industry
¬
dustry
are
Canadian
controlled
There
was
early
speculation
that
IAC
which
had
feared
a
bid
earlier
this
year
was
the
target
LE
Nichol
IACs
pres
ident
denied
any
specific
know
knowledge
¬
ledge
of
an
attempt
to
gain
control
of
the
company
But
were
not
unhappy
about
the
measures
he
added
They
are
in
the
interests
of
the
Can
adian
economy
The
takeover
of
Traders
would
have
left
IAC
the
only
Canadian
company
large
enough
to
compete
with
the
big
US
-controlled
sales
finance
firms
Trudeau
knocked
MONTREAL
CP
-
Former
prime
minister
John
Diefenba
ker
said
Tuesday
Prime
Minis
Minister
¬
ter
Trudeau
s
angry
attack
on
Quebec
separatists
is
an
Ill-concealed
attempt
to
boost
Quebec
Liberals
In
a
future
provincial
election
Speaking
to
reporters
at
Montreal
International
Airport
on
his
return
after
a
one
week
trip
to
the
Soviet
Union
to
boost
Canadian
wheat
sales
Mr
Dief
enbaker
said
Mr
Trudeaus
at
attack
¬
tack
was
merely
an
attempt
to
disguise
his
governments
fail
ure
to
solve
Canadas
serious
economic
situation
Mr
Trudeau
said
Monday
his
attack
on
separatists
particu
particularly
¬
larly
those
in
the
Company
of
Young
Canadians
and
the
CBC
was
designed
to
stimulate
ac
tion
and
dialogue
among
Quebe
cers
and
government
depart
departments
¬
ments
Mr
Diefenbaker
said
he
saw
no
need
to
cut
the
budget
for
the
French
language
netwjrk
of
the
CBC
to
weed
out
separa
separatists
¬
tists
as
the
prime
minister
had
suggested
Its
not
necessary
to
burn
down
the
whole
house
just
to
kill
the
lice
He
said
State
Secretary
Ger
Gerard
¬
ard
Pelletler
the
federal
minis
minister
¬
ter
responsible
for
the
CBC
is
in
a
good
position
to
know
the
real
situation
After
all
Mr
Pelletlerswlfe
is
an
emplojee
there
Of
course
thats
just
a
coincidence
But
it
certainly
must
provide
him
with
a
fine
source
of
information
The
former
Opposition
leader
criticized
Mr
Trudeau
for
maintaining
a
stentorian
si
lence
and
Mr
Pelletier
for
his
unctuous
unconcern
when
the
Conservatives
asked
for
parlia
parliamentary
¬
mentary
investigation
into
the
CYC
before
setting
up
a
roval
commission
inquiry
Like
Horatlus
Mr
Pelletier
stood
on
the
bridge
with
the
slo
slogan
¬
gan
jou
shall
not
pass
Snowdon
knows
em
TOKYO
AP-
That
pic
picture
¬
ture
Is
upside
down
said
Lord
Snowdon
husband
of
Bri
Britains
¬
tains
Princess
Margaret
His
Japanese
guide
asked
Why
do
you
say
that
And
Snowdon
replied
Its
my
photograph
Then
they
found
another
of
his
pictures
at
a
photo
exhi
exhibition
¬
bition
was
upside
downSnow
don
a
professional
photogra
photographer
¬
pher
made
both
from
reflec
reflections
¬
tions
its
getting
closet
have
a
trouble
free
winter
wm
tire
service
ltd
2nd
dominion
rSm
i
from
B
C
TeL
THE
CITIZEN
Thursday
October
23
1969
15
Dief
says
Separatist
attack
boost
for
Quebec
election
it
Is
not
enough
for
Mr
Tru
deau
to
sally
forth
like
a
Sir
Galahad
to
slay
the
dragon
of
separatism
while
calling
on
ev
erjone
to
help
Such
a
vituperous
attack
was
made
with
an
eve
on
a
fu
ture
provincial
election
On
the
question
of
future
wheat
sales
to
the
Soviet
Union
Mr
Diefenbaker
said
serious
damage
had
been
done
through
Canadas
cavalier
attitude
but
this
is
not
irreparable
Talks
with
government
offi
officials
¬
cials
convinced
him
that
charges
o
the
Soviet
Union
de
defaulting
¬
faulting
on
their
last
wheat
pur
purchase
¬
chase
agreement
are
without
foundation
All
thev
reallv
asked
for
was
a
delay
In
the
final
delivery
be
because
¬
cause
of
lack
of
storage
space
But
now
If
Canada
is
frank
and
aggressive
I
feel
thai
over
the
jears
sales
can
be
made
Also
discussed
during
his
visit
were
the
problem
of
China
Russlas
fear
of
her
potential
peril
Canadian
Russian
co
op
eratlon
in
the
Arctic
and
In
Increased
¬
creased
exchanges
of
visitors
between
the
two
nations
The
Soviet
government
could
not
have
been
more
co
opera
operative
¬
tive
We
were
able
to
meet
ev
erjone
we
wanted
to
see
But
Id
have
verj
much
liked
to
see
Mr
Khrushchev
However
lies
tn
hibernation
now
and
comes
out
only
to
vote
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