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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 26, 1974, Lethbridge, Alberta Friday, April 1974 THE LETHBRIDQE HERALD 25 Pipeline treaty proposal with Canada supported Winnipeg grain By PRANK WJTTER Herald Washington Bureau WASHINGTON A high- ranking United States state department official gave strong support Thursday to a proposal for a pipeline treaty with Canada Such a treaty might set out the rules of the game" for pipelines carrying natural gas from the Arctic through Canada to U S and Canadian mantels, said Julius Katz, deputy assistant secretary of state for international resources Negotiations on a treaty were proposed by Canadian Energy Minister Donald Macdonald when he visited Washington in late January KaU claimed Thursday that the U S had made the proposal in 1970 but Canada wab not interested then However, his remarks were the firit official indication that the U S is willing to pick up the idea again now 'We expect to initiate dis- cussions in the near future looking toward an agreement on pipeline transit Katz said The treaty as seen by Katz, would ensure security of any transcontinental pipelines and cover tariffs, fees and guaran- teed througnout of oil or natural gas While the idea had come up Coal royalties review resumed EDMONTON (CP) A departmental committee has resumed its review of Gulf Oil doubles earnings TORONTO (CP) Gulf Oil Canada Ltd announces first- quarter earnings more than double those of the corresponding period a year earlier the second major oil company to do so Gulf s profit for the first three months was 8 million against 8 million a year earlier and 2 million in the fourth quarter of 1973 President Jerry McAfee told the annual meeting of shareholders Thursday that even if these earnings were to continue for the full year our return on capital employed would be only 15 3 per not excessive in the circumstances Gull declared an extra divi dend of 10 cents a share the same as a year ago which will be paid July 2 in addition to the regular quarterly dividend of 15 cents Mr McAfee said uncertainties face the industry so there is no assurance that these results are indicative of what our earnings for the full year will be Present indications are that not all the cost increases laced in the importation of offshore crude oil will be reimbursed by the government s compensation lormula To whatever extent we are not able to recover added costs our earnings will be reduced Alberta s coal royalties, the legislature was told Thursday Bill Dickie mines and minerals minister, said the committee had delayed its work until a review of the coal industry was made public The report by the Energy Resources Conservation Board suggested the royalty on metallurgical coal should be gradually increased over the next five years in relation to the proposal, backed by Otawa, for construction of a MacKenzie Valley natural gas pipeline, said the U S had not yet reached a conclusion on the most favorable route A rival proposal to send the gas through Alaska for liquefaction and shipment by tankers will shortly be made by an American firm El Paso Natural Gas We would use such a treaty dealing not with a specific project but pipeline transit in general Katz said Katz was speaking in on >A 200 shares 02 lo md Coi ill i rose 01 lo SI 98 iifjas kil lilt oils and was il Ulon a lurnoxerol 19 shales Sonet a Developments fell 0{ to M 11 on Ih'IIIU shires was down 01 U 14 m 14 OOOshaies I Mi oleum w (sdown 10 al W on li 000 shuts was unehanged al 2i md (op I was down a Jiall eenl al Qold prices LONDON (AP Thurbdav. s closing gold prices in I S dollars an ounct I ondon 170 00 P ins Closed I lankluil 171 M) h 172 00 lions Konfi Missing Lien HI S 4b8 a kilo Qold futures iCPi Gold lutures I S lunils Winnipeg ilose Ihursdax 74 170 IOH llx 74 174 OOt Jan 75 er) 00 s xolumc 407eontrjets Dollar (CP) US dollar in terms ol (an idian lunds at noon w js up 7 50 it SO 96 4 2r) Pound sterling was up l 25 al W il 47 iO In 'Sew Un mad) in dollar w is down 4 25 at fl 0) 9f 100 Pound sleilmg was up I 1 10 at I i Earnings IL International Corp three months ended March il 1174 I million in I S lunds 65 eenls a share 1973 million o7 cents Indal Canada Lid three months ended March il 1974 79 e ents a share I97f SfOI 029 18 ccnu S B McLaughlin Associates Ltd ear ended Dec 31 1973 S3 224 000 SI 22 a share 1972 864 000 PanCanadian Petroleum Ltd three monlhs ended March 11 1974 3 million 1973 R million Placer Development Lid three months ended March 31 1974 6T5 000 1) a share 1973 S6 000 19 cents Sherritt Gordon Mimes Ltd three months ended March 31 1974 S9 527 000 75 i enls a share 1971 391 000 27 cents i Sloik prius win mixed lodax liter in enl lnhnn.il dlx Ihi noon Doxx loncs ixeiagi ol i" indusli i ds vi is doxxn I 71 to 82) but J.IIIHIS liild i Hindi i m kid xu I s DM Ihl Nl W oik Si k I It iiif.1 Ihi m ukel wi ikenine. she nix In Inn 'l oik s I i inklin itie n 1 li ink posted i hall point nil nase in is pi um li ndinj, i Hi to in un pi u i ill nil d 11 pi i unt Mio i xxas (he Sl xolumi k jdei down it v48 On tin in tMliani.1 I hi inn kit miles w is up 12tei8rf (h Otllll Issues oil till MSI llM irn ludiil J'oblu Scrxici I UK] G is down it i S mini n ddoi in i I dison oil al sf in' I tiliiic-. doxxn u Iln MUM utixi sioek wi sxnil cup up at H" Iln MSI c impiisiie ndis tun I (II to 47 >4 Ihi lepoits on an idian stocks in U ill Stui t I r id int. are not ax Jil ibk lodax dm to leclimi i! pmbluns Chicago markets IFK Int gmtimmni nulic iltd lint un Mm k1- n. hmu un 1 th m i ir md lli di m in 1 I n t ji in onnnoditv lui UK un llu Bdiidol li uk lilted pine" i limits. stuinds uf iht 1 hui sd ttlu il com ins oil1- in most sin be jn ml option--, i cm nr 1 lui kt d it limit ku Is inlo tlu 11 is i lew seconds Mil nuiif. llit Hint and MjirHjpHiln tulnus ti tlu (lost s lit ins nls i M iv i i4 hn jp> il up JO 4 _ diilJ Inrd ri_d i i I JD In (.lit i luh 44 (i i n li i 4 A i t 01 n HI liifjiu M 1 SI liul I its up 1 (7! un I hui sd Jt M 4 J9 lul I 4 >l' 4 Mu 4 UI in n Mu HI lul J KJ Vp D. dl M n J ItU Oils I lul 1 tT Stp 1 1 42 1 -51 Metals 1 M' losing Die I d Ind ask in pounds sieilmi, i nuliie Ion silxn in pine i i eiunci Copper Spot 1 2111 1 "li luluris i Miss Tin Spot IIWO VOO lutuies t eilll I 'Hi I can Spot "14 244 fulUMs 1112 02 ill ,60 h2 luluu "2" "til Siher Spol 221 22 I month t-l i h Treesury bills (H I P New d ix In isuix hills issind Ihuisjax s'ju million it in ix 11 ILI pi in el 1 L nil ixi l IL.I x li 1 I ol 04 pel e ml I esl xxuk null in al 48201 mil 7 t pi i u ill 162d ix slid milli in il m HCIIL.C pi ic i ol 98 18! nid m m i x n I 1 ol 7 pi i 11 m last shllmdli m ii mil -7 Beef futures ttlNMI'l l'i I in heel hum is ilosi Ihursd ix llx Sip i4 00 Nox i4 'h s xuhnnc No innii ic i- ALL GALANT SIMMENTAL DAUGHTER SALE 65 LOTS All Sired by the GREAT GALANT! Sale Time 1p.m. WEDNESDAY, MAY 8 Exhibition Sask. Your personal invitation from M 0 Sask. to attend and bid on the open 1972 open Vz blood heifers 2 year old blood heifers blood heifers blood heifers bred to extra For further information contact CAMROSE AUCTION CO. LTD. OTTO AND DENNIS STREBERG Box 1808, CamroM, Alta. Phone (403) 872-2114 ;