Banking chiefs react to Gordon Bank Act revisions
Fin ance Minister Walter Gordon proposed to keep the six per cent loan ceiling, drawing mixed reaction from bankers. S. T. Paton of Canadian Bankers Association, Neil J. McKinnon of Canadian Imperial Bank of Commerce and G. Arnold Hart of Bank of Montreal criticized the stance while welcoming plans for banks to enter mortgage lending and a reduction in cash reserves.
MENTIONED IN THIS ARTICLE
Walter Gordon
Porter Royal Commission On Banking
S. T. Paton
Canadian Bankers’ Association
Toronto-Dominion Bank
Royal Commission On Banking and Finance
Royal Commission
Neil J. McKinnon
Canadian Imperial Bank of Commerce
McKinnon
G. Arnold Hart
Bank of Montreal
Ottawa
Gordon
Banks gain room to enter mortgage lending under Bank Act
Ottawa outlines Bank Act changes allowing chartered banks to lend on mortgages while maintaining six percent rate on other loans. Proposes 25 percent foreign ownership cap, 10 percent single holder cap, and a ban on government purchases of bank shares. Sets annual reports and a unified Oct 31 year end.
Kosygin accuses U S of going to raw violence
Russian Premier Kosygin condemns U S actions in Viet Nam calling them raw violence and barbaric bomb attacks. He warns Washington faces world opinion and notes U S troops in the Dominican Republic and Congo policy criticized by the Soviet Union.
MENTIONED IN THIS ARTICLE
East Berlin
Reuters
Alexei Kosygin
United States
Viet Nam
Kosygin
Washington
China
Congo
U.S
Four marines die after wrong turn in rebel territory
Four Marines die after a patrol strayed into insurgent held Santo Domingo. The incident raises the U.S. death toll in the Dominican fighting to 33 as two more Marines are wounded and a helicopter pilot injured. Rebel claims shift from ceasefire violations to a wrong turn.
MENTIONED IN THIS ARTICLE
Santo Domingo
U.S
United States
Peace Commission
Organization of American States
al Burt
Doug Kennedy
Miami
Fla
Fire Destroys Farm Home Near Winnifred
High winds fueled a blaze that destroyed the Drader family farm home three miles east of Winnifred. Mrs. Drader, hanging laundry, spotted the smoke and evacuated her four children ages four months to six years, while two older children were at school.
MENTIONED IN THIS ARTICLE
Winnifred
Skip Drader
Here
Jury deadlocked in Ku Klux Klan murder trial
In Hayneville Alabama a 12 man all white jury deliberated four hours and 20 minutes before being ordered to resume at 9 a.m. in the high profile case against Collie Leroy Wilkins Jr. for the slaying of Detroit civil rights worker Viola Liuzzo. The judge gave options of first degree murder second degree murder manslaughter or acquittal as Klan attorney Matt Murphy Jr. and others urged jurors to uphold white supremacy and warned against prejudice.
MENTIONED IN THIS ARTICLE
Hayneville
Ala
T. Worth Thagard
Collie Leroy Wilkins Jr
Fairfield
Viola Liuzzo
Detroit
Thagard
Matt H. Murphy Jr
Murphy
United Klans of America
Alabama
Birmingham
Ten Die As Tornadoes Rake Minnesota Towns
A string of tornadoes swept across the Minneapolis area killing at least 10 people and injuring more than 300. Communities around Lake Minnetonka including Mound Spring Lake Park and Mounds View suffered heavy damage as the governor deployed National Guard units. Dozens of homes were destroyed and Mercy Hospital treated nearly 100 injured in two hours.
MENTIONED IN THIS ARTICLE
Minneapolis
Minnesota
Karl Rolvaag
National Guard
Lake Minnetonka
Spring Lake Park
Mounds View
Mound
Island Park
Navarre
Norwood
Accident Victim Dies In Scooter Crash
Minor Milne a 15 year old Crescent Heights High student died at 11 35 a m in hospital after a scooter collision with a car driven by Marjorie Reynolds as she backed from a driveway Milne suffered a fractured skull and broken arm in the crash his parents are Mr and Mrs Roy Milne of 583 6th St N E.
MENTIONED IN THIS ARTICLE
Minor Milne
Roy Milne
6Th St. N.E
Marjorie Reynolds
Ottawa plans give banks access to mortgage lending
Canada’s eight privately owned chartered banks would be free to enter mortgage lending and expand ownership of shares with Ottawa limiting foreign or provincial government stake and restricting trust company holdings. The six percent loan rate would stay, as would reserve requirements and Bank of Canada influence.
MENTIONED IN THIS ARTICLE
Ottawa
Canada
Commons
Gordon
NHA loan ceiling raised to eighteen thousand dollars
Ottawa telegraph reports the National Housing Act loan limit for non apartment home construction rises from 14 900 to 18 000 dollars. The change lowers down payments on larger homes, removing a substantial barrier to ownership for four bedroom houses with high lending values.
MENTIONED IN THIS ARTICLE
Ottawa
National Housing Act
NHA
City faces baseball group resignation over facilities
Mayor Harry Weiner says it is the association’s business if they resign. Public Works Committee reviewed action after a letter citing reasons for the step. City officials noted efforts to provide sports facilities and a Hop Sun lease dispute amid the split.
MENTIONED IN THIS ARTICLE
Civic Finance Committee
Minor Baseball Association
Harry Weiner
Allan Gunter
Ald
Jack Edwards
Gordon Sissons
Weiner
Medicine Hat Minor Baseball Association Ends
The Medicine Hat Minor Baseball Association suspended operations claiming too few diamonds and poor facilities. City recreation chief Kaleta said diamonds at Athletic Park, Kin Coulee, Stampede Grounds and others would serve minor players, with Crescent Heights and Steel Street diamonds ready next year. Bray cited council attitude and lack of parental help as reasons, along with leadership resignations.
MENTIONED IN THIS ARTICLE
Medicine Hat Minor Baseball Association
Ker
Alex Kaleta
Kaleta
Recreation Commission
City Hall
Percy Bray
Diarmonds
Bray
Association
Athletic Park
Kin Coulee
Stampede Grounds
Crescent Heights
Steel Street
Also Mentioned on This Page
Paton
Army
Frank Graham
Pittsburgh
Periae
The
Chu Lai
South Viet Nam
U.S. Navy
Big da Nang
Little
Francisco Caamano Dena
Lyndon Johnson
Katzenbach
Nicholas Katzenbach
Crescent Heights High School
Treasury Bill
Bank of Canada
Bank Act
Quebec Savings Banks Act
Bank of Canada Act
Dana Porter
Ontario
House
Senate
Public Works Committee
Mr. Gunter
City, Recreation
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