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The Wingham Advance-Times, 1955-06-15, Page 6fKe 8i»The Wingham Advance-Times, Wednesday, June 15, 1955 Bank Lending For Home Aids Housing Program, BankersTold More than 23,000 homes have been or are building in Canada on frank credit under the terms cf the ’National Housing Act, T. H. Atkinson, the retiring president, told the annual meeting of The Canadian Bankers’ Association last week. Up to April 80, 1955, with the mort­ gage program in effect only slightly more than a year, the chartered banks have committed more than $210,000,000 in housing loans, said Mr. Atkinson, who completed his two- year term as president. "Of the total number of housing units approved for loans under the act, 40 per cent are being financed by the chartered banks," continued Mr. Atkinson, adding that the extent of bank participation was a "notable contribution toward easing of the ksui “In Whatever Houses I May Enter , I Will Go For The Benefit of The Sick” This famous oath, sworn by every Physician, dedicates him to your welfare. There are many easier ways to earn a liv­ ing than practicing medicine, but no better way. We Pharmacists swear a simi­ lar oath, and you also can de­ pend on us to live up to that pledge. With great pride, we co-operate with your Physician, for the benefit of your health. ★ YOUR PHYSICIAN 0 I CAN PHONE McKibhons Phone 53 WHEN YOU NEED A MEDICINE ★ Pick up your prescription if shopping near us, or let us de­ liver promptly without extra charge. A great many people entrust us with the responsibil­ ity of filling their prescriptions. housing problem throughout Canada." Recalling his prediction that the chartered banks would undoubtedly give their newly-created power to make housing loans a fair chance to work, Mr. Atkinson commented: "The facts now bear out the sound­ ness of that prediction. The banks have entered wholeheartedly, into the mortgage lending field and despite many difficulties caused by lack of experience and trained staff, have achieved results which I believe it is air to state have surpassed those an­ ticipated by the federal government when it announced its intention to in­ troduce the legislation." Loans Will Increase Mr. Atkinson noted that while on April 30 the banks had N.H.A. mort­ gage commitments exceeding $210,- 000,000, actual advances totalled $118,- 000,000. He explained there would al­ ways be a lag between commitments and advances because payments are made only as construction proceeds. Also, he said, some mortgages have been sold with the banks retaining the servicing. Mr. Atkinson said he was particu­ larly proud of the fact that bank housing loans were being made not only in the larger centres, but also in the smaller, more remote areas where previously it had been difficult, if not impossible, to obtain mortgage assistance. "The chartered banks," “have made mortgage loans end of Canada to the other, broadly speaking, they are available in every community within reasonable reach of a branch bank. Thus another objective of the legislation has been fully met—that of increasing the machinery for making housing loans by adding the 4,100 branches of the chartered banks, many of them in small centres.” With the first year’s experience sat­ isfactory, "there is no doubt that the financing of homes under the Nation" al Housing Act is hdw an accepted and integral part of Canadian bank­ ing," Mr. Atkinson commented. But, emphasized Mr. Atkinson, de­ spite the large volume of mortgage loans—a volume which will increase steadily—there has been no restriction in the ability of the chartered banks to provide credit to ordinary bank borrowers, “the thousands of individ­ uals, corporations and public bodies that rely on bank credit to assist in their financing.” Home Improvement Loans Mr. Atkinson noted that the char­ tered banks had entered with energy and dispatch the latest field of special adequate he said, from one and, ★ May we compound yours? PRESCRIPTION CHEMISTS Quotation by Hippocrates 400B.C. Copyright 6W2-55 1IR5WI VONE 53.s) ’ WINGHAM Walkerton, Ont. I 1 1 L • iws < >Ill Electronic brush saves money on costly wire — promotes trouble-free telephone service^ In little ways as well as big we’re always on the search for trouble-shooters that will not only protect your telephone service but keep its costs down, too . . . Here a Bell technician is testing the telephone lines in your neighborhood. Carefully and quickly his hand brushes the circuits in the telephone building with an electronic “line patrol*’. He is hunting for weather-worn wires which may cause a noisy line or snap during a storm. Forewarned by this periodic testing we send a man to change the faulty line —which could be the “drop line” running from your home to the main telephone cable. Because of this electric detective we can use expensive wire until its service life expires fully, without sacrificing material or manpower. And that helps us to keep your telephone costs down. 751 ™E BEU TElEPH0NE C0MPANY 0F CANADA SCOUT CORNER Three members of the 1st. Wingham Boy Scout Troop passed the tests for their Tenderfoot badges at the regular meeting of the Scouts on Friday night at the Wingham Public School. The Tenderfoot badge is the first step in scouting and the three Scouts, Byron Adams; Paul Bennett and Brian Rid­ er, are the first of the eight Scout members to qualify. 0-0-0 It is hoped that other members of the troop will pass their Tenderfoot tests at the meeting this week, and that all members will be able to start qualifying as Second Class Scouts as soon as possible. 0-0-0 Later on in the season other boys interested in joining the troop will be admitted. First it is hoped to train those boys now in the troop as far as the Second Class Badge. 0-0-0 The new troop held a successful hike to London Bridge on June 4th, following the Maitland River from behind the farm of Ted English. The boys enjoyed a swim on the farm of Russ Henderson, before cooking their meal over an open fire. A trailing game helped liven up the afternoon before supper. Scout Dave Carr was successful in passing his Second Class fire-lighting and cooking tests, with the other boys passing their fire-light­ ing tests. 0-0-0 Scouts in the new troop are on the lookout for a meeting place in town, the arrangement of the ^public school being of a temporary nature. Anyone having an old barn, shed or large room not now in use, who would con­ sider letting the Scouts have the use of it, is asked to contact Warren Cal­ lan, chairman of the group committee. banking legislation—the Home Im­ provement Loan§ sections of the Na­ tional Housing Act. Between Feb. 1, when the legislation went into effect, and May 5, 2,500 loans totalling $3,250,- 000 had been recorded with Central Mortgage and Housing Corporation. "During the short life of this new banking service," he said, “loans have been averaging $1,000,000 a month—a figure, I believe, that will increase as both banks and home owners become more familiar with this lending field.” Mr. Atkinson suggested that the chartered banks’ participation in the housing and home improvement pro­ grams was only typical of how the banks were keeping pace with Can­ ada’s “gigantic economic strides” in recent years. “It is a source of pride," he said, "that Canada has one of the most, flexible banking systems in the world, adaptable to change and tempered to meet new conditions and situations. Today it is stronger than ever before; it is more stable, serves more custom­ ers and provides a wider range of services.” Mr. Atkinson remarked that one of the significant features of the general financial picture in recent months had been a considerable decline in interest rates in Canada. This had been in sharp contrast to a progressive in­ crease in both New York and London and reflected, he said, the easy money policy followed by the Bank of Can­ ada since late in 1953. Interest Rates Falling "This policy, designed as a stimu­ lant to the nation’s economy, has,” said Mr. Atkinson, "posed problems for the chartered banks which have been confronted with the necessity of employing surplus funds at steadily falling rates which, on the whole, bear little relationship to cost factors of the banking system." Mr. Atkinson said the 1954 Bank Act revised altered the cash reserve requirements of the- chartered banks. The result was that the banks’ cash reserves had been more than suffic­ ient to meet all demands for loans. At the same time, the banks had found it possible to take “a full and exten­ sive part in the day-to-day loan mar­ ket established in Canada for the first time a year ago.” This market had proven to be an effective means of channeling funds for development purposes and capital investment. It also has had the effect of strengthen­ ing the liquid position of the banks and assisting in the smooth function­ ing of the banking system as a whole. Mr. Atkinson suggested that the in­ terest rates on day-to-day loans, ranging between a high of 1.5 per cent and a low of .5 per cent, "have clearly reflected the full play of unrestricted, competitive forces in the market, a general reflection of the sharp com­ petition that exists in all banking fields in this country.” If You're TIRED ALL THE TIME Everybody gets a bit run-down now and then, tired-out, heavy-headed, and maybe bothered by backaches. Perhaps nothing seriously wrong, just a temporary toxic condition caused by excess acids and wastes. That’s the time to take Dodd’s Kidney Pills. Dodd’s stimulate the kidneys, and so help restore their normal action of removing excess acids and Wastes. Then you feel better, sleep better, work better. Get Dodd’s Kidney Pills now. Look for the blue box with the red band at all druggists. You can depend On Dodd’s. 52 Netvs of Bluevale Ladies Mark International Day At Women’s Institute Meeting The June meeting of the Bluevale Women’s Institute was held at the home of Mrs. Raymond Henning, on June 8th, The president, Miss Ruby Duff, presided at the meeting. This was International day for the organization. Australia was the coun­ try chosen for discussion and the roll, call was answered by giving the name of a city or a product of Australia. Mrs. Sparling Johnston, commented on the geographical features of the coun­ try, describing*the climate, vegetation, forest regions, strange animals and the great deserts. Mrs. M. L. Aitken traced the history of the island from the time of its discovery by Captain Cook, then its convict settlements, till it became a federation of seven states under one parliament at Canberra in 1927. The sober tales were enlivened by the singing of "Waltzing Matilda,” an Australian folk song, led by Mrs. C, B. Hoffman. Plans were made for a bus trip to the O.A.C., Guelph, on July 20th. It was decided that an extension course be not held at Bluevale this year, the members being privileged to attend courses at Wroxeter and Mol- esworth. Mrs. R. A. Brook, Mrs. Stanley Dar­ ling and Mrs. Alex Corrigan were ap­ pointed a committee to investigate prices of additional chairs for the Community Hall. Mrs. W. J. Peacock and Mrs. Alex Corrigan gave detailed reports of the recent district annual meeting at Moncrief. It was announced that $7250 had been raised to provide a home econ­ omics centre in Ceylon, and $18,000 had been donated to the Hurricane Hazel relief fund, by the Women’s Institutes of Ontario. Mrs, R. A. Brook conducted a name contest. Refreshments were served by the hostess assisted by Mrs. Carl Johnston, Mrs, W. J. Peacock, Miss Emma John­ ston, collected $126 for the Salvation Army Red Shield in Bluevale and immediate vicinity in Morris and Turnberry. Knox Anniversary Anniversary services were held in Knox Presbyterian Church on Sunday, when Rev. J. R. McDonald, B.A., of , Ripley Presbyterian Church, preached at both services. At the morning service his subject was "I Believe in the Cross." The choir, under the direction of Mrs. Oliver Moffatt, sang the anthem "Lift Up Your Heads." Messrs. Wm. King and Graham MacDonald, of Brussels, sang the duet, "Watchman, What of the Night?" In the evening, Rev. Maurice Mc­ Nabb, minister of the church, assisted in the service. Mr. McDonald spoke on “Can We Be Sure of Salvation?" The choir sang, "Now Let Every Tongue Adore Thee,” by Bach. Mrs. Gordon Greig sang a solo, "Green Pastures." Choir at Whitechurch No services were held in Bluevale United Church on Sunday. The choir under the direction of Mrs. Carl Johnston, organist, sang in the even­ ing, at the anniversary service in Whitechurch United Church. Personals Mr. dnd Mrs. Stewart Ritchie and family, have moved to Wingham. Mrs. Archie Messer and Miss Mar­ garet visited at the home of Mr. and Mrs. Burns Moffatt on Sunday. Mr. and Mrs. Archie Parker and Miss Doris Aitchison, of Ripley, form­ er residents, attended the Presbyter­ ian anniversary on Sunday. Mr. Howard Brook, of Toronto, and Mr. and Mrs. Ken Brook daughter, of Galt, visited ents, Rev. R. A. Brook Brook on Sunday. Mr. and Mrs. Cameron Atwood, were guests of Mr. and Mrs. Raymond- Elliott on Sunday. Miss Marilyn Moffatt, of London, was a week-end visitor with her mother, Mrs. Oliver Moffatt., and baby their par- and Mrs. Inglis, of Collect $126 Members of the Women’s Institute Huron Soil Association Tours Local Farms Directors of the Huron County Soil and Crop Improvement Association made a one-day bus tour in the county to inspect the association’s test plots. Each director brought along a farmer as a guest with 36 in all tak­ ing the tour. Visits included the farm of William Ellerington, R.R. 1, Cen­ tralia, where Mr. Ellerington and his three brothers operate 1,800 acres of land. At the farm of Elgin Rowcliffe and sons, Hensail, a large cash crop and poultry enterprise was seen. At Hensall the group toured the General Coach Works. They inspected the farm of Scott Cluff, Seaforth, where the association established a hay pasture demonstration plot in 1954. At the Scott Poultry Farms, Sea­ forth, the group saw a poultry and beef cattle farming ‘program on a large scale. Tour was made of the Blyth Farm- *ers’ Co-Operative Cheese and Butter factory. After a tour of Radio Station CKNX, Wingham, where the group heard plans for the proposed TV stat­ ion, the farm of William Cruikshank, Wingham, was visited. < G. ALAN WILLIAMS Optometrist Patrick St., • Wingham Phone 770 Evenings by appointment. BELMORE Flower Sunday Services Flower Sunday service was observed in the United Church on Sunday, June 12th. The front of the church was beautiful with flowers and ever­ greens. The theme "God Is Good" was carried out in red and white and was a fitting background for the S.S. children and Mrs. C. Douglas, at the organ. The service began with quiet music and a flowei’ processional. The S.S. pupils marched up the aisles singing “Praise Him," and presented their bouquets to four of the senior girls who banked the flowers on either side, Cecil Horton gave the call to wor­ ship, The choir sang several numbers, with Lavonne Ballagh and Mae Doubledee singing solos. Poems were recited during the service by Shirley Merkley, Lois-Mae Fitch, Merle Fitch and Janet Horton. The Scripture, Mark 4 verses 1-9 was recited by Billy Boyd, Keith Mulvey, Ross Fitch, Wayne Douglas and Peter Mulvey. John Newan and Elwood Fitch took up the offering and the offertory prayer was given in unison by Sharon PaleHorton, Irene JDpubledee anil McNee. Rev. H, T. West addressed congregation and pronounced benediction, After the singing of a hymn the children filed back down the aisles singing “Praise Efim." the the The ANNUAL RECITAL of. pupils of Harold Victor Pym will be held In St. Andrew’s' Presbyterian Church Friday, June 24 at 8.15 p jn. Everyone Welcome Silver collection. ii re=Kindergarten Registration Mothers will please bring their children to the Kindergarten on the first floor of the Masonic Hally for registration on Mon­ day afternoon, June 20th between 3.30 and 5.00 o’clock. Children who are five years of- age before January 1st, 1956 are eligible to register for Kindergarten in September. If not convenient to come on the above date, contact the Kindergarten teacher, Mrs. Wm. Elliott, or the principal, Mr. S. Beattie. WINGHAM PUBLIC SCHOOL BOARD FOR RESULTS 1954 Dodge Mayfair Hardtop $2150 Air Conditioning Heater. Custom Radio. Finish­ ed a smart Green & White two-tone. ■ 1953 Plymouth ■ Cranbrook Sedan E .Freshair Heater. Tinted Glass, Finished Dark S Green. 1953 Meteor Custom Tudor $1595 Finished Black & White. Air Conditioning Heat­ er. Radio. A "Safe-Buy" used car. Building Supplies Tongue and Groove Ceiling Tile Gyproc Product# Panelyte Full line of Trim and Molding Asphalt and Cedar Shingle# Insulation Twindow, Pattern and PenvernOn window glass Sash and Doors 2x4 to 2x10 all lengths Plywood products Plywood Sheeting Sash and Frames Pittsburgh Paints CAMPBELL —and—— GORBUTT Sash and Building Supplies Edward St., Wingham Ben. MOM Phone 1-J Beg. 481 i f z . A $1595 ■ 1953 Ford Ranch Wagon $1950 9 Finished Red & White. Freshair Heater. Custom ■ ’ Radio. Automatic Transmission. Tinted Glass.■ The ideal dual-purpose vehicle. J| 1952 Meteor Coach $1295 ■ Finished two-tone Blue. Air Conditioning Heater, fl ' Outside Visor. A nice one. I-I $895 A one $695 1950 Dodge Sedan $1050 ■ Dark Green finish. Freshair Heater. Slip covers. g| A good clean car inside and out. 1950 Ford Sedan✓ ’Metallic Blue. Air Conditioning Heater, owner car you’ll be proud to own. 1949 Ford Sedan Finished Grey. Freshair Heater. Slip covers. J Custom Radio. Priced right. ■ 1947 Pontiac Sedan $475 J Black. Heater..-New tires. O.K. in every respect. fl 1946 Chevrolet Coach $550 ■ . Blue. Heater. Complete motor overhaul recently. E Above average condition. = 1946 Chevrolet Coach $475 Black. Heater. Good rubber. Mechanically A-l. A real buy. Top Value Used Trucks 1954 Meteor Sedajn Delivery Two-tone. Air Conditioning Heater. 1953 Mercury %-ton Pick-up Tops — 12,000 miles. a 1953 Mercury 3-ton With Hoist and Box. 1951 Chevrolet 1-ton Express With rack.o 1954 Mercury J^-ton Pick-up Like new. 1951 Chevrolet 3-ton Long Wheelbase with 14 foot rack. Motor* Limited WINGHAM.ONT. » RIIIIIIIIIIIIIIIIIIIIIIIIIIIIRIIIIRIIIIIIIIIIIIIIIIIIIIIIIff