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Lethbridge Herald Newspaper Archives

- Page 52

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Lethbridge Herald, The (Newspaper) - April 27, 1972, Lethbridge, Alberta 24 LtiunRinGE HiSAtn Thumlciy, April 1172 liiduslrv collapse seen unless labor, governments smarten up VANCOl'VKH KT1 i-liairmall of Miu-Mitl.m Mel. said HM! l-eoiiomif colhipM' Industry is possible' "il '-over inert and labor continue I" as if corporate rotters constitute a bottomless cornucopia." Tlic warmiii; "as offered to MacMillan [iloeclel share-holders liy .1. V. Civile in Iris annual report en bit ear's economic pcrfo.-mam-c o( rnmpnny Hud. ils subsidiaries. Mr L'lyue said thai iillliundi till' company's linH'il in c'x- Iliat of liy mil- lion, ami v.i-ie described iis a il could 'in no way lie ili'-si'iilicd as lury v-iioii it is roali.'od thai il represents only a piofit ot fm1 each common sliato Furllu'i-nioi'e. lie said, tl'.e company achieved a return o[ only I l' per cent in 1571 on its total capilal invcstnictil Against this performance. 11o eoniparA' now is faced a demand" from Ihc International Woodworkers of America for wane incrciiscs totalling an'hour, Mr. Clync said. That demand, representing a 71-per- cent increase in 1WA benefits and wages, would cost Mac- Millan SG2.3 million annually apart from increases to bo paid to other unions under existing contracts, he added. DKMAN1) a demand is. of course, and fantastic and 11 tn damage the economy lo the detriment of members of Ihcir owe unions, noi1 that they want lo unemployment or cause suffering from lost wages. "Hut 1 can sec events devel- oping, which if not interrupted, can cause and long-lasting damage to all who live in this province." HAl'S TAX DUIHJE.V rcileraled earlier state- ments that private investment, as a cure for the sagging econ- the public and union mem- ers would realize flic consc- ucnces. "They do not appear to under- land that inflated wage dc- lands and work stoppages are eyti'oying Hie fabric of a soci- ety upon which they themselves depend." Mr. Clync. wlio also serves as chief executive officer, said he cannot hclicvc that British Col- umbia hbor eaders are seeking omv and unemployment, could. best be aided by reducing "the weight of particularly on the Canadian forest industry. years this company lias been paying income and logging taxes at the effective rate of ahout IS percentage points in excess of the rate paid by some of our major American competi- tors." If Ihc Canadian government would give Canadian companies the same kind of tax treatment we would need lo concern our- selves very much less with American takeover of Canadian industry." "Money is needed to develop this country and American capi- lal will still be required, hut '.I Canadian companies given Hie same opportunity as the Americans to generate capital for rc-im'cstnicnt we would see far more Canadian money going Into the development of Cana dian resources." Mr. Clync nlso criticized Hie federal government on its un- employment policies and asso- ciated efforts to stimulate pri- vate invcslmcnt. NAVY CIIIEK CONFIRMED WASHINGTON (Renter) The United Stales Senate has confirmed .lohn as scc- rclary of the navy to replace John Chafce, who resigned re- cently to run for the Senato from his stale ot Hhodc Island. These bui> ro your money KIRK 670-15 6 700-15 6 Pty 650-16 6 Ply 750-16 8 P4 750-17 8 Ply o 750-20 10 PW 825-W 10 Pty 900-2010 Dayton _- __IwTD 670-15 6 650-16 6 Ply 750-17 8 750-20 10 Ply 825-20 10 PlY 900-2010 Ply 31.85 5.60-15 7 75-lA ant1 and 15 i 8.55-14 and 15 DAVTQN 4 Ply Polyester :.95 ;so arc just a few of )he many great buys in Daylon Tires Now at Kirk'sl "THE BEST DEAL FOR EVERY WHEEL" TIRE SALES LTD. lETHBdlDGt 1621 3rd S. Ph. 327.5985 or TAbER. AtTA. 6201 SOlh Ave. Ph. 223-3'Ml FERNIE, B.C. Ph. 433.7744 ;