Winnipeg Free Press Newspaper Archives Dec 8 1970, Page 21

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Winnipeg Free Press (Newspaper) - December 8, 1970, Winnipeg, ManitobaWinning free press tuesday december i 1970 21 Nixon s Alert nearly jaw boning new York Nixon issued his second inflation Alert this week and in so doing levelled criticism at specific wage and Price increases in several industries. The president s Council of economic advisers issued a report tuesday that said the government would be held Back in its policies to expand the Economy and reduce unemployment if the wage Price spiral does not moderate. The Council said the current chief concern is the failure of the average rate of wage in creases to slow the report was especially critical of recent wage or Price increases in the construction Oil and automotive industries. It was the closest the Nixon administration has come to that is the at tempt to influence private Price and wage decisions by calling Public attention to decisions in those areas which the administration feels would be harmful to the nation s Economy. The administration s economic policies themselves were criticized sharply thursday by top democratic congressional Lead ers. Senate majority Leader Mike Mansfield House speaker John Mccormack and House majority Leader Carl Albert said the president has led the country into the longest recessions since the 1930s by pursuing a economic policy based on insipid futile after the fact hand slapping and Finger Point Stock Market May fluctuate but the players do not luncheon Euett s 718 Osborne Street a pleasure parking they called for an immediate 30 to 60-Day wage Price freeze which Nixon could order under interim authority Given him by Congress earlier this year. Meanwhile the Federal re serve Board lowered the inter est rate it charges member commercial Banks for Loans from 5% per cent to 5v per cent. The maximum interest rate allowable on Home Mort gages backed by the Federal housing administration and the veterans administration was Cut from per cent to eight per cent. These developments helped the Stock Market to its highest Levels in about a year. The Dow Jones Industrial average closed above 800 wednesday for the first time since Jan. 6. A Bill setting up an Independent Federal Agency with Broad authority to advocate and protect interests won Senate approval Only to be blocked by the House rules committee. The House passed legislation providing insurance for the pub Lic against financial losses resulting from the bankruptcies of brokerage firms. investors earn teachers doctors executives and retired people Are investing in approved mortgages presently yielding a record High rate of interest. Phone us for Complete facts and Deal through 504 Somerset place next of Eaton s Winnipeg phone 943-1523 a6e Hasa Quaty. An Haig Isth Goldest Don t be vague. Ask for Haig Britain s largest Selling scotch erf bottled m Scotland y in Cio Iliof Canda i Multi for those investors and speculators convinced that they have seen All before and that nothing is new in the Market some amuse ment but Little Comfort can be drawn from a Little ditty printed in the late 19th, Cen Tury. Entitled at that time much ado about nothing in the City the thought runs so sigh no More dealers sigh no More shares were unstable Ever they often have been Down before at High rates constant never then sigh not soon up they la go and you la be Blithe and funny converting All your notes of woe into hey Money Money. Write no More letters write no More on stocks so Dull and heavy. At times on change tis always so when bears a tribute Levy. Then sigh not so and Don t be Low in Sunshine you la make Money converting All your notes of woe into hey Money Money. Should you dear Reader see in this ditty anything deserving of your pity weep not for those concerned remember Only that you have not Leared from mistakes of those before who really should have known the score. If anything in the Market is predictable Over time it must surely be those concerned in it. Quite True is the saying that nothing in the Market is new except for remembering what was forgotten. For those who can remember the past Stock Market profits Are not the elusive beasts they often seem. Recently even the August financial Post heralded on its front Page the fact that mining Market jumping Complete with hot spots map. Among the new hot spots were such old favourites As the High land Valley Wabowden Lake Sturgeon Lake and Mont Laurier Bullbear s Little band of faithful will remember that the Penny Market perking up appeared in August since which time the Active will have done very nicely in the pennies. The sighs of dealers which were so deafening but a Short few months ago which reached crescendos normally associated with native funeral pyres Are now becoming purrs of satisfaction. No doubt in the gloom of Spring Many thought it was their own funeral they were attending All were sure better times would never be seen again. Some were so convinced that they left the Industry although none with quite the Success of one mining promoter who after the South sea Bubble burst in England went on to become prime minister. Probably due to the fact he was a self confessed fail ure at mining promotion was his Success in other Fields of promotion but for today s promoters remain ing after the rout optimism is creeping into their very Bone marrow. This Means that they will soon be in the Honey making Money but it also Means that for the Speculator running with them he too will be Able to share in the spoils. Unfortunately for most Stock movements need to be strongly underway before they Are believed this is Way Public buying and prices Peak at the same time. Conversely heavy Selling signals the Bottom of the slump because most investors have taken so Long to accept the truth. By some strange Means rather like bees signalling discovery of tasty pollen Many people come to the same conclusion simultaneously hence on binges buying and Selling. Can mean Money. Thinking positively in terms of Ris ing stocks the Price will usually Rise at Market open. This reflects Over night orders or Box instructions and those who leap on the Early movers. By mid morning the Sag appears and continues until just prior to lunch. The prices will themselves bring in bargain Hunters to be augmented by lunch time tape watchers. This will cause the Stock to regain Levels seen earlier in the Day. Post lunch to the close generally depends on the strength wished for by the promoter who May ease off the Stock or press for a Strong close finishing at the Day s High. Watch for the final Board lot which Market comment by Bullbear on a Shorter time scale both Market trends and Stock prices follow a Broad three or four Day Cycle. The first Day sees the Price Rise it being noted next Day in newspaper columns. Natu ral instinct is to wait and see what happens the Sec Ond Day. By the third Day itchy feet Send people hot footing into the Stock forc ing the mornings Pace. By afternoon professionals Are profit taking unloading on a sinking Market to those having a Gamble. Occasionally the run May go Over into the fourth Day but Don t count on it play Safe you can always buy Back. For those really interested in Shorter term Stock runs daily considerations . Mineral output near million Victoria up min eral production in British Columbia so far this year has increased for the ninth successive year and is close to the million Mark says a report re leased by mines minister Frank Richter. The minister said the total value of Mineral production for the province during 1970 is an estimated million an increase of million or seven per cent from 1969. Or. Richter predicted a further increase in 1971 with Copper continuing to be the most valuable commodity. He also forecast that Cool production in the Long term will continue to Rise As new contracts with Japan come into operation and crude Oil and natural Gas maintain their steady growth. Coal production More than tripled Over last year to an estimated Mil lion compared to Mil lion in 1969. Neon entertainment and Buffet old fas Ionio Stew two met Attr si.2s the Voyageur Isis Dodwell company limited Are pleased to announce to All customers for Sharp electronic calculators that a Branch office has been established in Winnipeg to provide an efficient and competitive sales service. Sharp calculators Are produced by the wow s largest electronic calculator manufacturer for whom Dodwell Are the Canadian importer and distributor. Repair service by factory trained electronic engineers. X 922 St. James Street Winnipeg 21 Telephone 786-59c1 branches in Canada Vancouver. Victoria Toronto stances sub Sferios Dodwell be sued by dealer Chicago Dow Jones an Austin. Texas appliance dealer is suing general electric co. Alleging that to company s practice of Selling appliances to Home builders at a lower Price than to dealers is a form of Price discrimination. The suit filed in Federal court i Austin by George Fulford owner of Fulford s inc., alleges that be s dual distribution pattern violates the Robinson Pat Man act which prohibits Selling the same product at different prices to the same class of buyers. Fulford asks for unspecified dam Ages. A spokesman for general electric s appliance division in Louisville. Ky., said the company has t seen the lawsuit and therefore does t have any comment the National association of radio television and appliance dealers has been carrying on a Campaign to end alleged dual pricing of appliances. The association previously complained t o the Etc whih said my ers and appliance dealers Are different classes of toners. Kimberley Clark fights pollution Toronto la a writ Lorpu it 31 t to to St wis. May up the Price by a few Points. These Are Good indications for the following Day. Added confirmation of intentions will be shown by the closing prices. Should the Stock close on the bid Price especially near the Day s High the next Day should be Good. Sometimes both bid and ask prices will be ahead of the close indicating the intention of break out the next Day. For the trader this Means it can be More prof Itable to buy mid to late morning p r immediately after lunch on a rising Market and sell at Market open lunchtime or in the last half hour on a rising Market. Whether taking a very Short term View or that of a prolonged Bear or Bull Market timing Means Money. Future moves must be anticipated it is Little use joining a move Well under Way with ample proof of direction. If you re con v i n c e d so Are umpteen others and general acceptance of trend will bring in the professionals doing the opposite. Doing the opposite to Gen eral feeling yields results. When things look their Blac Kest buy. When every thing looks Bright and Beautiful sell. Human nature always Over reacts to extremes causing severe corrections. Remember t h e Market a physical object but is the result of the sum of people s feelings plagued with fads and fan cies without rhyme or Rea son. Investors Are prone to get carried away with enthusiasm. In the same Way that the Market in general can Over heat As with the 1968-69 Peak so can individual stocks the same indications applying in each Case. By the same Token neither stocks nor the Market Rise consistently Over time or fall without a break. Trend reverses Are called technical corrections being either consolidation and profit taking or recoveries. The figure three crops up remarkably frequently in the Stock Market and while investors should not become Overly superstitious it s As Well to keep in mind the figure three. Some analysts in resource stocks even use a three year Cycle in predicting finds in the Oil and mining Industry reckoning that on average each third year comes up with a Pace set Ting discovery. Overdue an increasingly optimistic View is expressed of 1971. Recently there has been a shift from emphasis on industrials to resource stocks sheer weight of opinion and expectation is probably sufficient to tip the balance of speculation. Now is the time to Start picking your selections for longer term gains and Posi Tion taking should be considered. Company manage ment and. Property assets always yield returns if the Best Are selected. Bird dentistry Douglas Isle of Man up Happy the great Indian Horn Bill was Happy again after see ing the dentist. He had been unable to eat since he broke off part of his huge upper beak at the Curranh wildlife Park. Tha dentist fitted a plastic dental plate to the beak to satisfy Happy s requirements. Details of the operation Only the Sec Ond of its kind were sent to other zoos. Tran Canada pipelines limited common shares notice of dividend no. 28 a quarterly dividend of Twenty five cents per share has been declared payable on the 29th Day of january. 1971. To record at the close of business on the 31 St Day of december. 1970. Cumulative redeemable preferred shares notice of dividend no. 19 a quarterly dividend of seventy cents per share has been declared payable on the 1 St Day of february 1971. To shareholders of record at the close of business on the 31 St Day of december .1970. Cumulative redeemable convertible preferred shares series a notice of dividend no. 11 a quarterly dividend of sixty eight and three quarters cents per share has been declared payable on the 1st Day of february 1971, to shareholders of record at the close of business on the 31 St Day of december 1970. . Johnston Secretary Toronto Ontario december Bra 715 talk Cfaft. German Buffet luncheons served my. Tow m. Pfc it 7h-u37 mortgage funds available on commercial Industrial and apartment properties in major centres in Manitoba. Also available interim construction Loans. Contact the Branch manager at 234 Portage Avenue Winnipeg phone 947-0631 Fencor Portwi under the Kiwi

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