Castlegar, above, is to become the headquarters for Celgar Development Company Ltd., af- filiate of Celanese Corporation of America, in its $65 million Lower Arrow Lakes industrial de- Velopment scheme. The scheme includes a 3,000,000 acres forest management license given to the American interests by the Johnson government. : Wall Street interests buying up Canada at \ rate of $1 billion yearly NEW YORK “The U.S. stake in Canada is rising fast. In;the past two years Americans have invested hearly $2 billion in Canada’s greatest industrial boom.” This quotation begins a lengthy report i the Wall Street Journal of March 19 from staff reporters A. J. McKenna and Douglas Colvey, Writing from Montreal. he Journal said total U.S. in- res ments in ‘Canada have now are the $8 billion mark. In ee of the past two years US. : ay has been buying up Can- y 4 at the rate of a billion dollars ; year, These figures,” says the Jour- am report, “do not include the lis Ount of profits which estab- 5 €d American companies here Bice ploughed back into their ‘ ae No attempt is made Sih €ep track of this, but a gov- th Ment official here says it is © of the largest sources of in- da capital investment ‘by Americans in Canada.” Boke this flow of U.S. dollars Wa S the border is: not a “one- me traffic,” the Wall Street or- back reports. Huge sums flow thal the form of interest and ends, Pins 1950—the latest figures Paigltble—interest in dividends US by Canadian companies to Was holders of bonds and stocks AS $354 million when interest is inet adian government bonds Maite In 1945, these pay- on Were only $129 million ebve. total of $8192 million with Stine bond interest,” the M Nal reports. calg facturing, oil, iron, chemi- Spotted among the larger items “tha sed for U/S, direct investment, cle adds. thee Saran for oil in the prov- the di. - Alberta has been one of ita] jor attractions for U.S. cap- tiseo Mce the Leduc field was billion ee in 1947, more than a sl dollars has been spent in ell oe Canada on exploration, tionay rilling, pipelines and addi- mate} refining capacity. Approxi- Toney, 7 percent of this new Am Was direct spending by contre companies, or by US.- td. €d ones like Imperial Oil of Ny eenirolied by Standard Oil Fro Jersey, and like McColl- T ntena &xas € Ofl Company Ltd., a Ompany subsidiary. It is der estimated at least $200 million will be spent this year on oil development, and again. three- quarters of this will come from ‘the U.S. “Tn the rugged regions of the Quebec-Labrador wilderness, $200 million is being spent to bring rich ore deposits in. production. Practically all of this money is coming »from American com- panies associated with Hollinger -Gold Mines in the undertaking.” (Quebec Premier Duplessis, in smoothing the path fer this plun- of the province’s wealth, agreed to let it go for a royalty to the province of one cent per ton per year—or about $100,000. ) Celanese ‘Corporation of Amer- ica is another big investor, the Wall Street Journal reports. It has a $150 million new plant and expansion program underway. “In June last year the com- pany cpened a $27 million cel- lulose mill at Prince Rupert, B.C., and it has a $54 million petro-chemical plant under con- struction. at Edmonton, Alta. Celanese also recently an- nounced plans for a $65 million integrated lumber, newsprint and pulp project in southern British Columbia.” ® The Journal points out that, with the heavy deficit in’ Cana- dian trade with the US. by which ‘the cost of manufactured goods imported greatly exceeds the price of raw materials sold, there has been a deficit in the past two years in the current account international payments of $900 million. The heavy inflow of U.S. investments more than took care of this and left Cana- dian banks “$900 million better off in terms of U.S. dollars. “The influx of American money has been accompanied by an up- swing in Canadian buying of goods from the US.” the report finds. “In 1951, American exports of- coal, steel, cotton, manufac- tured articles and other goods to Canada rose to $2,813 million, a gain of 23 percent over the pre- vious year.” : In a follow-up report from Tor- onto on March 22, Devon Smith of the Wall Street Journal re- ported: “Canada’s lusty produc- ‘tion boom is dropping a bonanza of ‘bigger ‘business into the laps of U.S. manufacturers south of the border.” : It’s a straight US. finished goods for Canadian raw mater- ials, the Journal explains—thus bearing out the policy of the St. Laurent government enunciated iby Finance Minister Abbott when his “Abbott Plan” was made law in 1947. Fteports the Journal: “Much of this ($800 million U.S.) investment has been going into the development of Canada’s natural resources. Expansion of raw material production has matched or exceeded the expan- sion of Canadian manufacturing capacity in many cases.” As the U.S. increased its sales of manufactured goods to Can- ada, it stepped up its purchases of Canadian raw materials at the same time—knitting the two countries closer together. The question of steel produc- tion versus iron ore, tells the story of the direction of the Ca- nadian economy to a producer of raw materials for U.S. manu- facturing industry. The Wall Street Journal reports this situa- tion: “Canadian steel output has climbed about 130 percent since 1939 to nearly 3,600,000 tons last year. At the same time, imports of American steel reached a year- ly rate of nearly two million tons toward the end of 1951—almost as much as the 1939 total of domestic production plus imports. “Canadian mills will not meet Canadian demand in our time,’ declares D. C. Bean of the depart- ment.of defense production.” [hoor | | IUAUNL LL JBL suaerees es) 3 SPORTLIGHT By BERT WHYTE—— HE WAS A YOUNG man in his 80th year and a fervent sports . fan. He came in to see me at the Pacific Tribune office Friday after- noon last week, carrying a sheaf of newspapr clippings, and stated his business right away. “I want you,” he said, “to correct some erroneous statements in this article on Judo which appeared in the Sun a few weeks ago.” He showed me Andy O’Brien’s article, which consisted of inter- views with various Judo “experts.” One paragraph read: “Bernard Gauthier, president of the Canadian Judo Federation ‘| and son of Hull’s new mayor, stressed that Judo musn’t be confused with Jui-jitsu, which is designed to maim or kill. ment of Jui-jitsu,’ he explained. away’.” My 80-year-old visitor stated that the Sun writer had his facts ‘Judo is a refine- ‘The Ju in Judo meaning giving ‘| garbled. “Judo is a generic name for several sections of one game,” he said. “Jui-jitsu is the gentle art of giving way to your opponent, the art of ‘lost your balance.’ Ken-jitsu is the hard art—sword play, single sticks, etc. What the Sun calls Judo is really Kata, the Self- defense section of Judo.” His credentials? My visitor produced a certificate issued to him in 1904 ‘by The Schoo] of Japanese Self-Defense, London, England. His instructor was S. K. Uyenishi, holder of a “black belt” and one of. Japan’s leading Judo experts of that era. * * * The English weekly John Bull recently ran an interesting article on the Old Country boxing booths, which still flourish under the suprvison of the British Boxing Board of Control. One of the grizzled old-timers still operating a boxing booth is Johnny (Pop) Gage, 62, who has toured most of his life with “Jack Gage’s Boxing Stadium, Foremost in Five Reigns.” A graduate of Pop Gage’s booth is Randy Turpin, who held the world’s middleweight title for a few months last summer. Pop says he never would have been champion but for his training in the booths. Other top British fighters who got their start the same way were Tommy Farr, Freddie Mills, Jim Driscoll, Pedlar Palmer. Len Johnson and Johnny Basham. f Gage has many interesting stories to tell of humorous incidents that happen in boxing booths. Once, for example. an eager young challenger was knocked down. The local referee counted him, “. . . eight. nine, out!” but the boxer jumped up and protested: “You've counted too quick. I wasn’t out.” “Yes, you were,” insisted the re- feree. A rhubard began at the ringside, with the crowd forming two factions, but the challenger called for silence, lay down again on the canvas, and called to the referee: “All right, then, start counting again, and you'll see!” * * x BEST SMELLER: Denizens of the Hardened Artery in New York are chuckling over the naming of Phil Rizzuto, Yankee shortstop, as the “‘best-scented’’ man in the U.S. by perfume company executive Benson Storfer. Storfer said he defied anybody to cry “Sissy!” All right, Storfer, we'll take you up on that, Sissy! * * * MIGHTY UNCOMFORTABLE: “I was a skinny, scared, girl-shy skeleton,” said the guy in the advertisement. Then he sent for George F. Jowett’s FREE photo book of strong men, plus all HE-MAN building courses: 1. How to Build a Mighty Chest; 2. Mighty Arm; 3. Mighty Grip; 4. Mighty Back; 5. Mighty Legs. He enclosed 10 cents. Know what happened? He gained 53 pounds of Mighty Muscle. The ad Says so. We met two of these HE-MEN recently. Know what they were doing?. Taking turns scratching each other’s backs. “Mustile- bound?” we asked. “Not a bit,” they chorused. “Just our biceps. So big we can’t reach over them.” =0r10 oro The LONG and the SHORT of itis... =a OKO —1On The HUB has sold Union-Made Men’s Wear and extended friendly ser- ere mere vice for over 50 years. aint met Chenge your store, ay bem ead wy THE NUBT 10 0 SS 0 0 45 E. Hastings Vancouver, B.C. 0 20. = o_o PACIFIC TRIBUNE — APRIL 4, 1952 — PAGE It 010 OO IOI)