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Lethbridge Herald, The (Newspaper) - April 6, 1974, Lethbridge, Alberta 1IM-1M The Her Aid Business Gold growth 'near end9 T0RONTO (CP) Recent spectacular rises in the price of gold and expectations of a further advance have moti- vated buying in gold and gold stocks, but one analyst says that while these shares belong in trading accounts they do not belong in an in- vestment portfolio 'Canadian Business Service comments. "There is no ques- tion that gold prices could go higher. But there is an equal Farm salon highlights equipment MONTREAL ceremonies this week of the International Salcn ot Farm Machinery contrasted a glittering display of more than million in farm equipment with pleas for a "tair share of the consumer dollar" for farmers. But John H. Graflund, chairman of the Canadian Farm and Industrial Equipment Institute and president of John Deere Canada Ltd put the oft-heard plea into more concrete form Farmers should be able to ex- pect a return on their own in- vestment of at least 12 per cent Mr Graflund himself asked the first question in a news conference after the opening ceremonies "Is there anybody here who thinks farm prices are too high7" He then quoted prices in several countries for identical farm products and in every case the Canadian price was lowest "The best food buy is right here x in he said His prediction for the imme- diate future of Canadian agri- culture was favorable, with prices beginning to stabilize at a level he considers to be more profitable for agricultural producers. The farm machinery salon, first of its kind here, groups more than 70 exhibitors from 14 countries Exhibits range from modern heavy-duty tractors and threshing machines to new dairy equipment and home power lawn mowers ENGINEERED HOMES LIMITED likelihood of a downward movement in price." The price of gold was fixed at a record an ounce on the London market Wednesday. An investor should hold a gold stock or any type of se- curity only if it meets re- quirements of investment ob- jectives, Canadian Business Service says Requirements generally fall into five cate- liquidity, in- come, growth and specula- Mining has been a signifi- cant economic activity since ancient times and will con- tinue so until resources are exhausted. Therefore, shares of gold- producing companies with large reserves of high-grade ore rate fairly highly in terms of stability while those with unproven or low-grade re- serves do not, the service says SUBJECT TO CHANGE In terms of liquidity, gold- related vehicles rate low. "All are subject to large bid-asked spreads or drastic price change with each shift in any number of relevant factors." With yields running no higher than 3 3 per cent, golds are not particularly attractive for current income, the serv- ice says. The growth period for gold began when the U.S. govern- ment's peg failed to hold at an ounce in 1968, and many recent gold-stock buyers appear motivated by the belief that gold will go higher. "Based on a five-fold in- crease in price during the last six years and a number of other gold's current growth phase is likely nearing its end APPEAL SPECULATIVE Canadian Business Service concludes that gold.'s appeal is primarily speculative and a further upward move already has been discounted by the current price of many Cana- dian producers Gold and gold vehicles "will be subject to selling pressure in the months to come." COMPLETE TAKEOVER OSAKA (AP) Matsushita 'Electric Industrial Co of Ja- pan, and Motorola Inc., of the U S., concluded a formal agreement Friday under which Matsushita will purchase Motorola's home television receiver business As earlier reported, Mat- sushita will set up a new U S corporation by the end of April to take over Motorola's television business. Plans call for the new firm to manufacture and market TV sets in the U.S. under Motorola's current Qasar brand name R. ANGUS ALBERTA LIMITED APPOINTMENT A. (Shorty) Heringw Mr Keith Bickerton, Lethbrldge Area Manager, Engineered Homes, is pleased to announce the appointment of Shorty Hernger to Area Manager for the company's newly formed Medicine Hat branch Mr Hennger joined Engineered Homes in Lethbndge in 1972 as a Sales Representative. He recently received the coveted Engineered Homes DCM award for a new home sales volume during 1973, in excess of Prior to joining Engineered Homes, he resided in Ponoka for six years where he worked as a radio-television technician and operated his own retail business. In assuming his new position as Area Manager, Mr. Hennger will be responsible for the Engineered Homes operations in the Medicine Hat area Shorty will be happy to answer any enquiries at his of- fice at 419 3 Street S.E., phone S26-2287 G.E. (Gordon) Brown J. A. Angus, President of R Angus Alberta Limited, Caterpillar deal- er for Alberta and the Northwest Territories, is pleased to announce the appointment of G E (Gordon) Brown as Man- ager of the Lethbridge Operation, and Sales Representative for the southwest part of the province, effective April 1, 1974. Mr. Brown, formerly'a Sales Representative in Edmonton, succeeds Mr. Peder Lodoen who has been appointed Manager of the Peace River Ope- ration Rolling along Winnipeg bus assembly line. Bus assembly firm gears for future WINNIPEG (CP) After a long uphill climb, Flyer In- dustries Ltd. of Winnipeg anticipates smooth riding in the bus-building field. The new plant the firm has just opened in the city's east end makes Flyer the largest Canadian-owned bus manufacturer in Canada. Founded in Winnipeg in 1930, the company last year became wholly owned by the Manitoba Development Corp., a provincial government agency The government feels that electrified urban transit sys- tems offer an important solu- tion to the dwindling supply of fossil fuels. Flyer entered the urban transit field in 1968 and until recently was the only Humble frog sparks rice fuss in India By RAM SUNDAR CP Correspondent BOMBAY (CP) The humble frog has sparked a controversy in one of India's riche'st rice-producing provinces Thousands of acres of agricultural land in Kerala province have been laid waste by grasshoppers, a major crop pest Many experts have attributed the damage to the disappearance of frogs. The province has become a big exporter of frog legs to Europe and North America where they are regarded as a delicacy The experts say that with the elimination of frogs there is little to prevent the insects from eating the rice crop. As one farmer in the Kutta- nad rice bowl said1 "We did not realize until now the useful role frogs were performing We" considered them a nuisance." While acknowledging the role of frogs in maintaining the ecological balance, crop experts said there is no need to reduce the capture of frogs for export They said the grasshoppers can be FEDERATED INSURANCE ANNOUNCEMENT Mr Will Charlesworth. local district manager for the Federated Insurance Companies, has earned an achievement award as one of the Company's top men in sales during 1973 As a result of his outstanding sales record he and Mrs Charlesworth will a'iend a meeting of the Co-.par1 es to be held at the Kauai Sir! Resort Hotel in Hawaii, in April. Federated Honor Club members from the Untied States and Canada will make the trip to Hawaii, where they will be pre- sented with the Company s Honor CluD Achievement Award destroyed by spraying of pesticides. One senior government offi- cial said thousands of Kerala peasants have doubled their income because of the flourishing export business in frog legs "The hard currency which is flowing in also is vital for the nation's industrial he said. One report estimates the area affected by the grasshoppers at nearly acres The southern Indian province already is facing a difficult food problem. The extremist Marxist Communist party has been blamed for the unrest prevailing in many parts of Kerala. One member alleged that the Marxists are telling peasants in the pest-affected areas that the trouble has been caused because of "the administration's anxiety to satisfy the food fads of Westerners at the cost of poor- Keralans Auction realizes Eager bidders paid Friday at one of the largest farm machinery auctions held in Southern Alberta. Five rows of farmer consigned equipment, ranging from large and small trucks and tractors to fence posts and barbed wire attracted buyers from throughout Western Canada to Perlich Bros Auction Market in Lethbridge.' Everything was sold, regardless of the condition, as buyers took advantage of the opportunity to acquire machinery which has been scarce at implement and farm equipment dealers for months. No end is in sight to the severe shortage of new farm equipment, dealers say. One corn planter, in obviously used condition, brought more than the price of a new planter if such a planter could be found. Canadian oil chief to retire TORONTO (CP) TW nun generally rtonfed u a chief Bpokeunu for the Canadian oU indttfltrv U rtfirinf, ending a dynamic career during which he frequently put hit opinion on the line publicly. William Okborn Twaits, 63, has announced he is stepping down as chairman of the board of Imperial Oil Ltd. and will not seek re-election at the company's annual meeting later this month. Mr. Twaits has never been more than a phone call away for reporters. He has never taken the easy way out, whether the industry was in good times or bad. Often he was called for comment at home, late at night or early in the morning. Earlier this year, for ex- ample, he was asked about the federal-provincial squabble over working out a national oil policy. Mr. Twaits said bluntly it reminded him of "two pigs battling under a blanket for the same acorn NO SURPRISE His retirement announcement, posted on company bulletin boards this week, was expected after he told Imperial Oil's 1973 annual meeting he would probably be quitting within 18 months. -Mr.--Twaits has always hked to get into the field where work was being done. In February, 1970, at the age of W. O. TWAITS 60, he was on the East Coast after the Liberian tanker Arrow sank in Chedubucto Bay It was one of Imperial's worst moments. The tanker was leaking 3.8 million gallons of crude oil over the shores of Cape Breton Island and a newspaper story called it "the biggest, stickiest and most repulsive outburst of man- made pollution in the history of Canada." Mr Twaits, then president, ordered a full-out effort by. Imperial and then went to .the scene personally. producer of trolley buses in North America. Flyer's new plant, which oc- cupies square feet, has the capacity to produce about 800 units annually for urban transit systems. Flyer makes bus shells for the U.S. market under a 1971 agreement with American Motors C neral Corp a wholly-owned subsidiary of American Motors Final assembly is Ameri- can Motors General's plant in Mishawaka, Ind. Flyer's main competitor is General Motors and its Canadian Subsidiary HAILS NEW ERA Company president S. H. Maurmann feels it's the start of a new era for Flyer, which has nearly 700 employees in its four facilities in Winnipeg. "We now have the capacity to produce, in one year, more than double the number of buses we produced in the last four years "With these new facilities and the level of people attracted to Flyer now, we feej our position in this competitive industry has been strengthened 10-fold." The new plant employs about 400 and is capable of producing one fully completed bus for Canadian sales and three shells for American Motors General every eight hours. Flyer has produced buses for Dayton, Ohio and San Francisco and for such Canadian cities as Toronto, Vancouver, Ottawa, Hamilton, Saskatoon, Edmon- ton, Calgary and Winnipeg. Flyer officials say sales in excess of million for 1974 already has been confirmed. The company is also playing for future production of small buses carrying 15 to 25 passen- gers that could be used for dial-a-bus systems or airport limousines. 6Shot in rump' for sheepmen EDMONTON (CP) Alberta's sheep industry, the largest in Canada, is in line for another shot in the rump from the provincial government, Agriculture Minister Hugh Homer said this week. "It is my intention in the next few months to change the slaughter lamb incentive program to pay an incentive for lambs retained in Dr. Horner told the annual meeting of Canadian Co-Operative Wool Growers Ltd. The slaughter lamb incentive program, introduced in February, pays producers for every 100 pounds of lamb marketed Industry spokesmen see a ewe-lamb retention program as an incentive to enlarge production. Dr Horner said the sheep industry is "the one area of agriculture that we can promote without stepping on the toes of other agricultural sectors." The domestic wool market demands about 50 million pounds a year while domestic production was only about five million pounds. Dr Horner said that if the meat aspect of the sheep industry produced at peak capacity for the next 10 years it still wouldn't yield a surplus There was plenty of prime sheep growing land and there were many younfe people who could be motivated to take up the business. "We were working 24 hours day, ready to one Imperial employee recalls. "Then all of a sudden there It Twaits right on the ipot talking to everybody. You can't imagine the boost in morale." Mr. Twaits was born in Gait June and graduated in commerce from the University of Toronto in It was the Depression and he couldn't afford to study economic research at ihe School of Economics in Geneva, Switzerland, so he joined Imperial and was as- signed immediately to the company's first executive training program. MOVED RAPIDLY He moved rapidly from job to job in the company, became a director in 1950, vice- president in 1952, executive vice-president in 1955, president in 1963 and chairman in 1970. His varied career has pro- duced some clear observations. "To progress in industry, a young man must have or ac- quire a basic. knowledge of both the technical and economic aspects of the he once said. this, the prime requisites for a business career are a genuine interest in the human fac'tor, imagination and curiosity The oil industry, he said, has avoided a pitfall in some businesses where people begin to think they are just part of an assembly line. "Our industry is lucky in this respect An oil man has contacts with all levels of the public and government. There are always new fields of knowledge to explore Despite his penchant for publicly voicing his opinions, Mr Twaits refuses to comment on his retirement plans SOUTHERN PRINTING COMPANY LIMITED APPOINTMENT Computer builds car KALMAR, Sweden (AP) Volvo inaugurated a revolutionary car plant Thursday which works without an assembly line The system aims to end high noise levels and other stress- inflicting conditions that have led to a high manpower turnover. Under-the new system, the assembly line is replaced by computer-guided workshops operated by 12 to 15 men. Each team works on a specific job, such as the car's electrical system or its steering mechanism. H. H. Smith Ltd. Customc Broker 321-8Ml COUTTS MM 424 5451 Office Phone 344-3822 GEORGE SAlTO Southern Printing Company Limned of Lethbndge is pleased to announce Ihe appointment of Mr George Saito as Sales Manager of its Commercial Printing Division George has had 20 years extensive experience in the printing and stationery field in the Lethbndge area and would like to make available his services to friends and customers old and new., Phone GEORGE at... 328-5114 1233-2nd South WELCOME TO THE WANTED TO BUY Proven and Semi-Proven GAS RESERVES Reply to Box 93, Lethbridge Herald E DMONTON 434-3431 037 26TO Fm 9% For 1 or 5 Year Term GUARANTEED SAVINGS CERTIFICATES MontMy, Outrtorty, Seml-AnniMHy or GofnpouftCMd to Member Canada Deposit insurance Corporation t MIMEIIS t MERCHANTS TWST 309 7th SI. UthbrUot Pttom 42I-5K41 INDUSTRIAL WATER TREATMENT FOR BUSINESS, TOO! Softeners, filters, deionizers, reverse osmosis purifiers to serve a variety of businesses. food service car washes motels, hotels laundries apartments and more1 We offer a free water analysis and free engineering consultation. call WATER CONDITIONING (LE1WMMELTD.) I2M4L k. ANDY HOLMES H7-7M7 ;