Sharp proposes removal of loan ceiling rate in Commons
Ottawa Finance Minister Sharp urged in the Commons that the six percent cap on bank loan interest be lifted, with a phased move after an initial rise in the current rate. He framed the measure as boosting competition among banks and near bank lenders, while signaling heated party and banking sector debate. The plan includes a formula to raise the ceiling above yields on short term bonds and a future point when ceilings may be removed, with details to be revealed in the first reading.
MENTIONED IN THIS ARTICLE
Ottawa
Sharp
Liberal Party
Commons
Charles - Arthur Gauthier
Creditiste - Roberval
H. A. Olson
Sc—Medicine Hat
Mr. Sharp
Bank Act amendments in Commons outline deposit insurance
Ottawa CP highlights Finance Minister Sharp statement on Bank Act changes. Proposals set up crown corporation to insure deposits and strengthen near banks. Aims include curb on interlocking directorates, limits on bank stock holdings, and a federal provincial conference on consumer credit.
MENTIONED IN THIS ARTICLE
Ottawa
Sharp
Crown. Corporation
Mr. Sharp
Volkswagen recalls for axel inspection nationwide
About 197000 Volkswagen cars in the United States are recalled for possible front axle ball joint and rear lid defects. In Canada, 16000 VW sedans and Karmann Ghias are recalled for ball joint inspections. VW of America says 175000 Beetles and Karmann Ghias affected plus 22000 squareback sedans. production dated Aug 1965 to mid January.
MENTIONED IN THIS ARTICLE
New York
Volkswagen
United States
Toronto
Volkswagen Canada Ltd
Canada
Volkswagen of America Inc
Englewood Cliffs
N.J
MacEachen promises pension plan in brief government statement
In Ottawa, Health Minister MacEachen pledged a government statement on old age pensions within a very short time as the Commons debated the Canada Assistance Plan. MP Knowles pressed for immediate raise of the $75 pension to $100, but the amendment was ruled out of order. MacEachen cited $85 million extra for 1966-67 and a total federal-provincial burden of $500 million, saying the plan will increase aid to the aged, disabled, and deprived while helping lift some from welfare.
MENTIONED IN THIS ARTICLE
Ottawa
MacEachen
Commons
Sharpe
Quebec Savings Bank
Stanley Knowles
NDP
Winnipeg North Centre
Knowles
Canada
Hexis
Soviet Deputy Premier Polyansky in Medicine Hat visit
Dmitri Polyansky visiting Soviet Deputy Premier arrives in Medicine Hat with a 15 member Russian delegation by road from Swift Current. Mayor Harry Weiner and city representatives meet them on arrival. A reception and banquet are planned at The Westerner at 7 30 p.m. Ottawa officials arrange details. Breakfast at Kin Coulee before 8 30 a.m. departure Friday en route to Lethbridge.
MENTIONED IN THIS ARTICLE
Dmitri Polyansky
Medicine Hat
Polyansky
Swift Current
Harry Weiner
Ottawa
Kin Coulee
Medicine Dhat
Lethbridge
Public affairs programs weigh similar action after CBC row
Mr Leiterman says producers of Document Quarterly Report and Compass are considering similar action after CBC management repudiated Seven Days. He notes Walker's transfer rumors and says he cannot accept directives that breach his contract while continuing to follow supervisors of public affairs.
MENTIONED IN THIS ARTICLE
Leiterman
CBC
Document
Quarterly Report
Compass
Patrick Watson
CBC Management
Jim Carfey
Walker
Toronto
Keate Broadcasting
Watson
Laurier LaPierre
Johnson plans Viet conferences at Texas ranch
President Johnson, saying Communists cannot win a military victory in Viet Nam, hosts a series of Viet Nam conferences at his Johnson City ranch with Defense Secretary McNamara and Ambassador Harriman. He cited bombing raids reducing North Viet Nam storage by 57 percent and 87 percent, discussed cutbacks in bomb production, and affirmed a gradual, measured buildup with continued strong deployment.
MENTIONED IN THIS ARTICLE
Johnson City
Tex
Johnson
Viet Nam
Here
Defence
Robert S. McNamara
W. Averell Harriman
Defence Department
Hanoi-Haiphong
McNamara
Rail workers face wage vote and looming strike
The Globe and Mail reports 73,000 non operating railway workers may reject an 18 percent two year wage rise proposed by Justice Munroe. Unions plan strike ballots with a July deadline unlikely. Two union groups back Crowe and Cooper boards, urging Crowe’s higher raises while rail talks proceed.
MENTIONED IN THIS ARTICLE
Toronto
The
Globe and Mail
F. Craig Munroe
Federal Labor Department
Communications
Justice Munroe
Union
Harry Crowe
Railway
Gordon Cooper
Halifax
Cooper
Mr. Crowe
CBC Denies Walker Appointed Senior VP In Toronto
CBC president J. Alphonse Ouimet denied rumors that H. G. Walker was named senior vice-president in Toronto. Walker, a vice-president and general manager of the English networks at CBC Ottawa, was a central figure in the This Hour Has Seven Days dispute.
MENTIONED IN THIS ARTICLE
H. G
Bud) Walker
Ottawa
Toronto
Reeves Haggan
H. G. Walker
Leiterman
Haggan
Ouimet
Montreal
CBC
J. Alphonse Ouimet
Walker
Mr. Oquimet
Opposition targets plan to raise bank loan rate ceiling
In Ottawa the opposition lashed at Finance Minister Sharp over a bill to raise the six percent cap on bank loan rates and eventually drop it. Diefenbaker led the critique citing Porter commission flaws while critics accused the government of vague timing and hidden terms.
MENTIONED IN THIS ARTICLE
Ottawa
Sharp
Diefenbaker
Porter Royal Commission On Banking
Also Mentioned on This Page
Moncton
Calgary
Sam Goldie
Sweat-Bankage
Alberta
Peppers
Walter Gordon
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