The Goderich Signal-Star, 1965-11-25, Page 15which
r will
ar.
er 2.5
rs cause.
idents
25 '
eer. Ili
us a mo
From ori
i the cal
ming ops
i what p
er.
Priced, tht
chain sa
rofessionals,
st big power
for logging
jobs.
• V-4.2.4 R:
itee of peal
with Pionau
ngin
524
resident WS. ,J. Sherratt we-
d at the • Monthly meeting
he Legion Ladies' Auxiliary,
ember 9.
flutes a the last general
ting 'were read Mid adopted.
zespondence was read and
It wztlt,
donation to* Westminster
pital of Christmas gifts fog
patientsnot remembered was
approvegl W Busy schedules were
shown by all-eotnznittee reports:
Zonation to the l;,egion burs-
ary fund was continued. Ar-
rangements *ere made for the
annual Christmas party with
Santa to visit and an exchange
of gifts. e.
AIN TO
FRONTO
s
Ask about convenient departure
and return times
For information, phone the local
CN Passenger Sales Office
The 'attendance draw was wan
by Mrs. . Len Elliott, Mystery
prize was won by ¥Vers, Tarry'
Bloomfield. l'he meeting, closed
with singing of The Queen.
Entertainment was • supplied
by Mrs,. H. Carroll and Mrs. P.
A lunch was served' by
I's, Evelyn Wright and her
committee.
3 .30
WN/TF PARE 4. ONE WAY RFS
0o FARE
�BLUE PARE
.b0
CANADIAN -NATIONAL'
I Qorbeneficiary efierar
dies first,
what will happen to
ydtFiife insurancbeneitsr
When the unexpected happens, as it sometimes does,
it's important to know what steps to take. That's
why the COMpetent advice oft your Manufacturers
Life representative is so valuable. Here are some of
the practical points he'll cover.
1. J dulls you originally named an alternative or
contingent beneficiary, the money from your policy
would be payable to your estate. This may tie up
the..xnane.,BncLs blect_it to...creditots•-elaiins--and
unnecessary estate costs. In the end, it might not
even go to the person you would have chosen unless
your will is up to date.
2. Ityounrchildren were a,Iso originally named'
as
•'
beneficza.zee, and they are•strll under age, another
problem arises. Unless you make special provision,
the policy proceeds at your death would have to
be paid into court and held until they reach their majority.
But don't wait until something like this happens. Call your Manufacturers Life
representative to -day. He will review your beneficiary arrangements—and sug-
•'est changes if they are necessary. He is experienced in matters of this kind,
and he offers you the kind of counsel you can rely on.
40-65
;w}i?:ni:2; a�"r✓{�,t;�.+•f:ii.'r'`S:� `�3b''}:�i�M:9;:
W. E. Williams
Representative
GODERICH -
Tel: JA. 4-7665'
3.u.w. :•:plei:lr}.Ht:SSS,-r.itiu:.'vt t+a r..„,v;,....-,....04-...-..... -r-Yi 112.
- - *,rfiedieatio:ai se••rviiee4t3r,twv =new=flags was~== --fl wfiileAteev=-Reg ll-= :-GroderiolrR A
held outside the .,gourthouse during last undertook the .same for the new Canadian
week's county council isession. Warden flag. Members of corinty 'council turned
Glenn Webb raised the new provincial out in force for the deciTcation ceremony.
Signal -Star Photo
Report Of Royal .Cornmissicfl On -Fame _ _reviewed
In the interests of local farm-
ers connected with the contro-
versial FAME enterprise we pre-
-sent a summation of the Royal
Commission report.
The article appeared' this
MANUFACTURERS LIFE
T 2-65
__DQasl Animal
REMOVAL
ror dead and disabled p.nimals
,_.. calL..collect
Darling & Company
an
Y
of Canada 'Ltd..
Phone 482-7269, Clinton
Dead animal licence number
350-C-65
4tf
month in The Market Place, the
monthly journal,of the Ontario
Hog Producers,' Association.
Farmers Allied Meat Enter-
prises Co-operative Ltd. could
not have made a success of the
Fearman meat processing plant
near Burlington to meet the 90 -
day demand note which became
st No._vemhe
This was one of the major con-,
elusions contained in the Royal
Commission report on FAME un-
veiled in Toronio last month.
Author Mr.- Justice eam,pbe1l
financial arrange-
mentssays fi ctal are ge-
ments considered by then FAME
president Charles McInnis would
have been ” so costly that the
plant could not have carried
both interest and principal re-
payments—and stay in business.
Business Directory •
AVA
Sporty and Rugged
for him
Yet soft and feminine
for her
NORTHLANDCLOUDSPUN
AN N.UA.L CHRISTMAS IIIIJGGA.GE DRAW
A coupon will be given for each dollar Ord on account and for every dollar
purchase. You9could win $50.00 worth of ladies' or men's luggage.
40
• tllal. • I■ •■.� ..o...®... a. —
q
THE
-.a� _ s....._., ., •_,� 5248817.
SQ���
Ot t ar201 401k lii)0014.1 NN i 14.ZArr uNt a1C74211- i4r t i20r ati16 4121 4nibli a tJY2140inIu
e4
524-9088
ADRIAN D. SWANTON
Senior Representative
23 Wellington St. North, Goderich
STILES AMBULANCE
Roomy — Comfortable
Anywhere — Anytime
_ DIAL 524-8142
77 Montreal St., Goderich
REFRIGERATION,,
and
APPLIANCE SERVICE
/A11 makes — All types
GERRY'S APPLIANCF,S
The Souare'
Phone £4.8434 .
"The Store That Service
Built"
Real Estate Agent
RUTH VAN DER MEER
DIAL 524-7875, Goderich
Agent For
WILFRID •McINTEE
REALTOR Walkerton
LODGE
AMBULANCE
- SERVICE
"We are always ready" •
Telephone
524-7345
Alexander an
Chapman -.
GENERAL INSURANCE
REAL ESTATE
PROPERTY MANAGEMENT
Canadian Imperial Bank of
Commerce Building
Goderich
Dial 524.9662
IF IT'S
Photography
DIAL 524-8787
HADDEN'S
STUDIO
118 St. David Street
R. W. BELE.
OPTOMETRIST
The Square ',524-7661
Ronald L.
McDonald
Chartered Accountant
39 St. David St., 524-6253
GODERICH. ONTARIO
M. HARP R
• CHARTERED ACCOUNTANT ""
....
55 57 SOUTHSTR��TTELEPHONE ,.,
62
GODER1C11oNTb C?
In addition, those FAME dir-
ectors who comprised •the F. W.
Fearman Company Ltd. board
of directors did not have the
business experience or the • abil-
ity to successfully rtt•n a company
of that- type. Even had the
$1,000,000 been found, the Fear-
roan operation would have re-
quired _ constant injections of
capital. by .FAME.
Mr. Justice Grant stresses that
had FAME sold debentures to
meet its commitments, the ac-
tual- losses' -would have been
muchg reater than they have
been—since its inception in late
19160 FAME has collected close
to $2,500,000. Practically all of
this has been either lost or spent.
(The Royal Commission was
established following the Fear-
man plant debacle. FA -ME
bought this- modern packing op-
eration with a down payment
of $1,500,000 in August, 1964.
However, within three' months
it lost the plant to its former
owner, English meat packer E.
R. Gunner; when FAME direc-
tors were unable to meet a fur-
ther payment .demanded by the
purchase agreement.)
Although Mr. Gunner now
holds all the Fearman shares,
he is not the absolute owner of
them. Under a hypothecation
agreement, should he sell these
shares, any surplus over and
above what is owed to him by
FAME has to be returned to the
co-operative. But the Royal Com-
mission notes that so much
money is owing to Mr. Gunner
sunder the purchase agreement,
that "it is doubtful if any sub-
stantial- amount -will ever be re-
covered from- this source."
Reclaim Fearman Plant?
Should a fresh attempt- be
made to reclaim the Fearman
shares in the name of FAME,
a sizeable sum of money would
be required—the report says at
least $2,140,000. 'This figure in-
cludes a bank loan to the Fear -
man company of $660,000. It is
suggested the bank would- call
this loan should FAME ever take
control of the company. In ad-
dition to the $2,140,000, there is
an undetermined of the $1,000,-
000 Gunner mortgages.
'Can anything be done about FAME founder Charles McInnis
was largely to blame for the
r demise of the farmer - owned
freea•t--peeking-v nt-are. At the
same time, there was a ringing
indictment of most of the lead-
ers who headed the co-operative
prior to this year: "With the ex-
ception of a few directors, the
balance of the, board exercised
acquiring the Fearman plant,
providing the financing arrange-
ments are satisfactory? Mr. Jus-
tice Campbell Grant makes' this
observation in his summary:
"The present officials of FAME
have vastly improved their re-
lationship with other farm
,groups and are hopeful that
some arrangement might be
made with the assistance of, or
amalgamation with, C o p a c o
whereby on a revised basis, the
purchase of the Fearman plant
might be completed and` -that
establishment used in a joint co-
operative meat processing pro-
ject."
The reportwarns there is no
room in today's society for com-
petition amongmeat„ packing
co-operatives. A joint Copaco-
FAME undertaking would re-
duce the cost of management and
"establish a greater unified force
in providing competition and
price maintenance in the area
of purchasing livestock from the
fat men" -
FAME Leaders Blamed
The Royal Commission said
MacINTOSH and
SNQW APPLES
Lassaline Orchards
524-7096
' : ''� ♦i Yl','Y.- ,-i'J•6,;v'.^''j✓,. i.•:i'-N tN, ~''1:'fy�' !YS:�M'.. ... Y'.h;%ZN'Ykr'i `�?�'T p• .:XlI{'.L�J'Q'
DO YOU NEED . .
•
ANCE?
And Extended Coverages On
BUILDINGS and HOUSEHOLD EFFECTS
STORE or FACTORY PROPERTIES
STOCKS • EQUIPMENT
Malcolm Mothers
GENERAL INSURANE AGENT
46 West St. .Dial 524-9442
" 40.42,44. 46.46•
r
IS YOUR BUSINESS
HELD BACK BY
LACK OF FINANCING?
IDB has helped to finance many growing 'businesses in
the acquisition of land, buildings, machinery or equip- "
ment. It may be useful for you to discussthe financial
needs of your business with us.
INDUSTRIAL
DEVELOPMENT BANK
27 tIRANCH OFFICES ACROSS CANADA
,-... X17 11ENER-w.ATULDD -.- - —
WATERLOO' ONT.: Wa
torp Square
. q Building -- Telephone;244-4186
no judgment of their own but
blindly followed the dictates of
McInnis."
Mr. Justice Grant said most
farm groups in Ontario were
uneasy about FAME; and there
was a great deal of justification
for this apprehension. Mote
than three years after the in-
ception of r the FAME program,
$1711,058 had been collected
from 'the sale of shares'and de-
bentures, but no plant con-
struction had started. "Cost of
raising this money was very
excessive—around 19 -cents for
every. $1 taken in.
An increasing number of farm
leaders doubted -the ability of
the FAME directors to make a
success 'of their venture And
when searching questions were
asked, there were hostile retorts
—but no adequate answers. How-
ever, the doubt about FAME
was not universal, Mr. Justice
Grant says' "FAME always had a
.large following who thought
there was no reason to question
the judgment and ability of those
on the Board and particularly
that of the president—his ora-
tions were very convincing:"
Information vital to the pur-
chase was atso withheld from
the directors. This was done so
that the de: l could he completed
before opposition developed. At
least three directors were rais-
ing questions about the trans -
'action.
Buying A DJAMOND
This Christmas?
Do Yourself A Favor
SEE
N. T.
ORMANDY
JEWELLERY
THE SQUARE
524-784'
43tf
WELL DRILLING
3 Modern Rotary and Cable Tool Machines
WATER GUARANTEED
Pump Sales and Service
IMMEDIATE SERVICE
W. D. HOPPER & SONS
50 YEARS EXPERIENCE
SEAFORTH, ONTARIO 527-0828, 0775,1737, 0257
24 tf
Friendly Service
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... from babysitting to an extra smile
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Make ,your stay in Toronto more enjoyable ...
try it LORD SIMCOE STYLET
LORD. SIMCOE HOTEL
_
150 King St. West, Toronto. Tel: 362-"I
FM,