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HomeMy WebLinkAboutThe Goderich Signal-Star, 1959-01-15, Page 4411111111,-.111111,-;,11;,V,.,•1;-",!';vt,,Olts.:4 •.1aaSS*4.14,#. TEE GOPERICE1. SIPNAL-STAR .o • JOINT usting Daylight Saving w R. W. Todgham, president of Chrysler of Canada, (at left) is seen congratulating Reg. McGee on having attained a long service award ais a dealer. Holding 'the awards received on • the occasion are his two sons, Alvin and Leonard McGee, wpo are associated with him in the busi- ness. The awards were made at the Coliseum, Toronto, several gnonths ago on the occasion of a Chrysler convention. 'Hello! Is Thi l the loan Co?" E., CAU SliORT? Avoid Unnecessary Inconveniences! It can happen, too, with r rem bit to right are Ronald and Kenneth McGee, sons of Reg. McGee, who are associated with him in the business which has a record of 30 years., as a Chrysler car dealer. S -S, Photo by i R.H. THIRTY YEARS AS 'CAR DEALER IS THE RECORD OF REG. McGEE Thirty years ago this -month, Reg. McGee purchased rrom ins late brothe4 Jack McGee, the two -car garage on Hamilton street which 'now houses Reinhart Electric. He did not lake passession immediate- ly bnL.speiL the, 'next_ couple_af months buying and , cars around the country to get into the swing of the car business. - With the arrival of Spring in .1929, Reg. moved into his new business,- all set to give it the big push ahead. But, it wasn't long before he found this was difficult to do as, indeed, everybody found the going tough at that time. Rea- son? The depression had arrived and it was destined to hang around for a few years. By the middle f. 1931._things_itarted m oving and they have kept moving for Reg, ever since. . • For 18years he stayed in the old location,- then moved to his present, modern garage 12 years ago. Sifee 1929- he -has-been an sedate Chrysler -Plymouth dealer. In fact, last fall at the Coliseum in Toronto -during . a -big "do" -of -the Chrysler Corporation of Canada, the president of Chrysler of Can- ada; Mr. R. W. Todgham,,presented Reg. with a long service dealership award. "It's rather unique for a man to be a car dealer. for 30 years," the Chrysler president told the,....nresentati on_ In busine'ss with him are his four' sons, Leonard, Alvin, R'onald and Kenneth. ' Due for a well-earned reit; Reg, plans to head for the sunny south for a vacation soon during Which time '"the boys" will carry on. • The Dodge agency was also ob- tained by Reg. McGee in 1933. A total of seven efficiency awards has been awarded to Reg. McGee by the Chrysler Company of Can- ada since he moved to his new location.. -- The garage and car business are not the • only interests of Reg. IVIeGce. . He has -a ,total of 620 acres of land iij three different, farms and over the years has pas- tured anywhere from 125 to 200 head or cattle -at • one ---time. A lover of horse,s, he. has been active in harness racing for about 20 years and in --that time has -owned some 30 different horses. •• Elmer: .110.11..Heads HuronBar .Assoc., Ttic annual meeting of the Huron Bar Association • was held, at the Huron County Coi,irt House on Friday, morning 'when Elmer D. Bell, Q.C., of Exeter, was named president. He replaces Frank Don, nelly. Q,C., of Goderich, who re- signed. Other officers are: vice-president, Q.C., of Wingham; Secretarytreasurer, Crown Attorney 111. Glenn Hays, Q.C.; librarian, Frank Callaghan, of God e rich; auditors, E. B. 'Alenzies, of Clinton, and J. K. Hunter, of ,Goderich. There were 12 of the 18 bar-' risters in the County present for' the meeting. A }ibrary committee was named and is composed of Judge Frank Fingland, H. GlennMays and Frank Callaghan. Job Printing Needs Check your supplies now.. . Doff* -wait. until you are "just about .out" and need printing "right away" IN. TING IS 0 PUSINES5! OBITUARY The month of January is' named afte' the two-faced Roman god, Janus. Janus was represented with one face turned to the front and one tp the back, so that no one 'could tnter, the gates .of Rome without his knowledge. , 'Tis well, to forget the past 'be- cause the ,future will give you plenty to worry about. HERE IS WHERE TO - BUY A SIcMAL-STAR For the convenience Of Sig- nal -Star readers who purchase --their paper from week to -'week rather than by a yearly subscription th:ough the mail, _Signal -Stars are sold at the following stinds; SODERICH— & P Store Bluewater Market ed'Bowler's Groceries. . Craigie's Tobacco Store Dunlop's Drug Store noderich News Stand Riecies (Lauder) Drug Store Signal -Star Office Auburn—Gordon Taylor's General Store. Bayfield—Bayfield Variety Store plinton—Newcombe's Drug :,,,r;Store • Dungannon—Eedy's Store Holme-sville—D. E. Glidden Kingsbridge—G. F. McKen- zie, Store Kintail—W. MacDonald's Store. Nile—Nile General Store Port Albert — Roy Petrie's Store Saltford—Torn Morris Gen- eral Store MISS FLORA- ADELINE HOLMAN Mr. Lloyd R. Holman, Cameron stregt, was bereaved by the death of his sister, Flora Adeline Holman,. at Stratford ,on January' 7.. De ceased was born 68 years ago and was- a long time , resident of Monkton. :She is survived by four brothers, William, of Vancouver, Joseph, of Atwood,, Floyd, of Ayr, and Lloyd,. of ,Goderich, as well as two sisters, Mrs. Archie Scott, of Detroit, and Mrs Harry Head, of Toronto. Mr. and Mrs. Holman attended the funeral at the Heath -Leslie fun- eral home, Mitchell, on Saturday afternoen. Interment was in Mitthell cemetery. Considering its age. this,. is a might fast old world. May we serve you -today?: YOU MAY,RORROW HERE ij, FOR ANY REASON YOU THINK . VORTHAVIIILIE- E S1GNAL-STAR Canada's largest and most recommended _ • consumer finance,coMpany Money service you can trust—backed by. over 80 years' experience. Same-day service a specialty at HFC! HOUSEHOLD FINA M. R.1erikins, Manager r. The regular meeting of the Gode- rich Branch of the Women's Insti- tute wAs.held in MacKay Hall on TIPILIORY...iteIRMI With Members of the Aubtum branch as guests. The president, Mrs. N. Clairmont, was in the chair and Mrs. F. Haw- kins presided at the piano. The meeting opened by singin the Institute Ode and repeating the Mary Stewart Collect in unison, Minutes of the last meeting were ad -by-the- --seeretar*-treasurer,. Mrs. H. Tichborne. Several thank- vou ,notes for Christmas treats were read. The president announced that the Muscular Dystrophy canisters would be collected on Tuesday. * COmmittees- were appointed for the rummage sale to be held in February with Mrs. C. Holland as convener, and for the, bazaar and bake sale in March with Mrs. J. Cook and Mrs. R. Wilson as con- veners for the bake sale and Mrs. J. K. Wilkinson and Mrs. B. Mills for the miscellaneous table. A resolution will be forwarded .to the proper authorities regarding. abolishing of Daylight Saving Time. Mrs. G. Million, president of Auburn Branch, presided for the program which included vocal olos-lby Mrs. Wes. Bradnock and Mrs. Gordon R. Taylor and a music- al reading by Mrs. W. J. Craig, all ,acCOmPanLesIllY_Mr§s....R,L.F11 also a reading by Mrs. N. :111.4.4. moat ,A vote of thanks was tend- ered the guests 'by Mrs. B. Milts and Mrs. E. Patterson. Contests for the grandmothers were held and the following ladies won , prizes: Mrs. A. Kneeshaw, Mrs. A. Wilkin, Mrs. C. L. Bissett, _MrsJL Grovipr, Auburn, Mrs. A. Kiii,:connell, Auburn, Mrs. M. Via- eis and Mrs. G. Atkey,, The door prize was won by Mrs. D. McMillan, and the cup prize by IVIrs. T. Law- lor, Auburn. 4 1successful Penny Fair was also held. • Wedding ";,-S1,s• - — IT/AIRWAY, "J. Y lGth, 1059 Mr. and Mrs. James boherty, Gederieb,and tte bride Is a daughter. of Mr.. and Mrs. Clem Sterner, R.It. 3, Brussels- Miss Yvonne Connelly, of Brussels, pro-. vided the wedding music and sang two solos during the ceremony. The bride; was attired in a white yelvet empire styled floor -length .gokvv0.,.:zealloped..nocctrall-ncek- stones and • a .Anger -tip "e'veehtem*, embroidered silk illusion.. She car- ried a white prayerbeek and a crest of, red roses. The maid of henor„.Miss,Betty• Hallahan, of , CO Clinton, and — • leen Hallahan, of Malton. both cousins of the bride, were dressed identical in royal blue velvet and red velvet dresses respectively and wore velvet pill boxes encrusted with pearls and, draped with ostrich plumes. They both carried, bou- quets of white mums. Foflowiiira -dinner at Cranbroolc- ; - Community Centre a reception was - held at the» 'bride's home where Mr. Steffler received the, guests wearing a navy blue taffeta dress with beige accessories .and a cor- sage of red roses. The groorh was assisted by James Dohol-ty,and, James Shiflett and the ushers were. Stanley Doherty, bro- ther of the groom, and Clem Stef- flu:, brother of the bride. For travelling, the bride wore a beige plisse taffeta sheath dress, a borg jacket with turquoise and copper toned acces- sories and a corsage of yellow mums. Following a trip to the United States and Eastern Ontario, the couple will reside in Goderich. DOHERTY—STEFFLER St: Ambrose' Roman Catholic Chervil, Brussels, was the setting for a pretty winter wedding on _December 27 when Elizabeth Mary Anne Steffler was united in mar,: riage to John Patrick Doherty. Rev. Father Durand, of Wingham, officiated.. The grown is a son, of Annual Meeting of Shareholders The Royal Bank of Canada James Muir urges more flexible tax system, with wider control of money and credit to curb chronic inflation West can set a n example of "free -economy in action" by keeping markets- op -en to-uncle.rdeveloped. CO-Lintries.- "Chronic inflation is the greatest! single threat, to Canada's economic development," declared James Muir, Chairman and President of The ,Royal .Bank_of Canada, at .the. - bank's Annual Meeting in Montreal on Thursday, January 8th. Review-. ing, the_ conditions which gnest be met to ensure -continuing ecoxi card growth, high level employment and a stable currency, Mr. Meir said, "Regardless of the skill and energy of the monetary authorities, an effective monetary'policy is impos- ,sible so long as consumer credit free to move in the'opposite direc- tion. The Central Bank contracts credit—in- booms- •and ,,expands in, recession. Unregulated consumer credit expands in booms, contracts in recession. Those dependent on bank tredit have to bear ,the full brur .of credit restriction while others enjoy a spending spree. To break up this unholy alliance of injustice and futility I have re- peatedly urged that monetary and Credit control should embrace a wider area of our financial world than they now do. - * 04 0 4 OODERICH FORMIDABLE TASK "Until furidaniental budg et Changes can be made the Govern- ment..must finance its deficit by seUirg bonds`to the general public, the chartered banks, or the Bank of Canada. The shift ,from bonds to equities, in' spite of, the relative attractiveness of bond yields, rules out -1,e general public. The need for liquidity inhibits sales to the banks, except for the shorter ma- turities. Purchases of securities by the Bank of Canada, whether from the general public, the Chartered banks, or in this case the Govern- ment, finances governmentdebt through an increase in the money supply. Thus at a time when in- flationary pressure is growing, the indicated policy for the Bank of Canada, monetary restraint, may run directly counter to the financial needs of the Government. It is this- formidable task of steering... between Scylla and Charybdis, be- tween failure of monetary policy and failure. of fiscal policy which, in the months ahead, will try to the limit the imagination and resource- fulness of those charged with the problem of government finance. "But surely it is not beyond the wit of our fiscal 'experts in govern- ment and elsewhere to devise a system that will minimize the role of the business cycle in determin- ing the size and nature of 'govern- ment sponsored economic activity. Surely a 'more. flexible tax system could .be devised which would Ad- just tax rates to counter cyclical disturbances, not only quickly and effectively but without arbitrarily changing Che relativeeimportance of the government sector in' our economic life. Such a sySterh,_com- hined vd-th a ineire—eOmpsfpNenilVe coverage by our monetary -author- ities in the regdlation of credit, could I think provide an ecenomic climate for ihigh-fevel emPloyment and economic growth and, at the same the, protect the value.of our currency from the ravages of chronic inflation." CONVERTIBILITY Referring to the recent devalu- ation of the franc, and Britain's move toward convertibility, Mr., Muir said, "One of the most im- portant del/lees.. for ensuring the mobility of investment funds, cap- ital goods, consumer goods and wor s a ree y opera ing ore pi - exchange market. In this context two recent events of special inter- • RISK.TAKER - MERITS REWARD "Adequate reward for pro- Auetive---effort-and important condition for econ- omie;development," said Mr. Muir. "Government, with, the aid of tax experts. should make a thorough study of our complex ta structure with a . "view to improvement both hi the distribution of the burd; ens and in the allocation of ' the net rewards, fOr produe tive activity, "1 would -like now to move to - more specific cases. If labour becomes more produc, tive, higher wages can be paid without inflation. The increase is both an incentive and a deserved reward. If risks are taken to expand pro- duction in some direction, the opportunity for a correspond- ingly large reward is nOt only prerequisite, but justified to the extent of the risk -taker's coptribution to general wel- fare. _ ..... - "I would like to join those who are urging the GOVern- ment in considering the re- port of the Borden Commis- sion on .Energy not to move • hastilyto put a public -utility strait -jacket on one of the most impOrtant contributors. to Canada's risk -capital in, vestment: the oil and gas industry—a risk industry that has been responsible in large measure for Canada's brilliant economic showing since the, second world war. "Uncertainty bred of fear, fear of crippling regulation, can cut off risk investment and destroy all hope in the free world for sustained and healthy economic growth." "est concern the French franc and the pound sterling. "Devaluation of the French franc was inevitable. Now it remains to be seen how stable the new rate will he. Naturally this will depend upon how firmly the internal econ- omy of the country can be built up and upon how faithfully the people will accept the new restric- tions they must endure .to' come throughTheimmediatesuccessfully. s significance of Britain's move towards convertibil- ity must not be exaggerated. All she has done is to make formal what has informally been more or less the case, viz, put 'Canadian and U.S. sterling, so-called, and Trans- ferable sterling in the same bracket. .This means that all non -Sterling area holders of pounds'are now in the -rode boat, which 'is to say -they 'can freely dispose of their sterling for dollars -or arty other currency at the going rate Within the' Support point S established by the British authorities, viz $2.78 to $2.82, U.S. "One important outcome is that London can deal freely and directly with all currencies and again get back to where she was .before the war as the most important foreign exchtmge Market in the Werld. "The great hope is that these latest developments wahesten the day when the U.K. can throw all shackles overboard and make the pound free and fully convertible for everybody inside, as well as outside the sterling area." • "Aid to underdeVeloped coun- tries," said „Mr., Muir, "is useless 'Royal Bank Assets over K. M. Sedgewick General Man- ager, reported that Royal Rank assets had passed the $4 billion mark, and that Capital funds now totalled nearly $250,000,000. "De- posit figures in Canada have of , course, increased markedly," said Mr. Sedgewick, "and we are parti- cularly pleased to see ,substantial growth during the . year in our p ersenale -sato n gs- deposits- , where . the figures are larger by $148 million odd, than those of a year ago. As . at date of the Balance Sheet,' our' depositors numbered , 2;927,121, indeed a source of much satisfaction. to • , . . Mortgage loinS arranged by the Royal. Bank had increased by 22% ,to nearly $265,000,000, and share- ficiidas now humheted-22-,156,- an ' increase of 2,200 in the year. Referring to the bank's continu- ing programme of new construction and the improvement of existing premises, Mr. Sedgewick noted that impartant new offices, now under eonstruetion; would he' opened. in 1959 .at Charlottetown, _Montreal and Vancouver_and. that within a few months work would pornmenc.e on new4rutin offiteS in Ottawa and WilidSor, and en an impo#ant branch office in Edmonton. BUILDING PROGRAMME "During 1958 we opened 33 new branches in Canada and four out- side Canada—three 'of which were in Cuba and one in Puerto Rica. W.e have completed major additions to our branches in Bridgetown, Barbados, Nassau, Bahamas and at a number .of other points Work is underway now on new main office builclings fnr Kingston, Jamaica and Ciudad Trujillo. Dom- inican -Republic. Also our Bogota, Colombia main office is being ex- panded,. and 'complktely modern- ized " The recent appointment of a Far Eastern Representative, with head- quarters in Hong Kong, said Mr. Sedg,ewick. had placed The Royal - Bank of Canada in a position to. provide on -the -spot assistance to foreign traders who wished to take advantage of what Mr. 'Sedgewick felt to be "opportunities for further important expansion of trade between Canada and far eastern countries." unless it leads to sustained, and' self-sustaining, •, development; and fundamental social changes in the underdeveloped country are requir- ed before the 'spirit of enterprise is sufficiently strong to achieve what we might call "escape velo- city" independent of the tempor- ary rocket -thrust of economic aid, Without fundamental" changes, greatly expanded aid fanned„ by over enthusiasm, if not emotional compulsion, Inay have -perverse effects, not only in the inflation - ridden West, but ih the under- developed countries 'themselves. "I think we must raise the ques- tion whether earmarking more •aid is hest for East Asians or the West until, much more has been done both in education and in the care- ful preparation of ni:ogrammes that achieve a proper balance between agricultural and industrial develop- ment. The. big question, said -Mr. Muirr. - was„ whether the •.‘uncommitted' underdeveloped countries would try to develop a private ',enterprise economy as an, instrument "of growth, This depended, he said, "not merely on expanded economic aid but en the example set by the West', and by a good example mean not merely that we set our own house in order but that we keep the economies of the Meg open to the goods produced by the underdeveloped countries. Other- wtse w an only expect cthese countries to adopt a policy of self- sufficiency with its inevitable counterpart, centralieed control of the economic .system. in other words, if we would have und a along private -enterprise lines, We must set them an example of the free* economy in action.",, -t css-s ,17,1 21, '