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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 1, 1973, Lethbridge, Alberta Newsprint supply limited By DENNIS TRUOEAU MONTREAL Strikes in Canada's newsprint industry have ended but resulting shortages of newsprint are expected to last at least until the end of the year. The Price Co. this week negotiated an end to a fourmonth strikes at two Quebec newsprint mills but in- dustry officials say it will be at least a couple of weeks before Price's return to production will be felt on the market. A Price official in New York said Wednesday it will take them longer than expected to resume full operations. you're shut down for four you just don't know what's said T.R. .president of Price Paper in a telephone interview. Mr. Kenny also said that price is following the lead of most other Canadian newsprint makers in raising its newsprint price by to a ton delivered to Housing outlook is strong MONTREAL The outlook for housing in Canada is strong but a number of fac- tors make it unlikely the record level of housing starts reached this year will be the Bank of Montreal says. Rising construction costs and a decline in available ser- viced land may affect supply of housing but with incomes on the rise and vacancy rates remaining the basic de- mand remains the bank says in its November review. building materials are at present in relatively short supply and prices have risen the review adding that with invest- ment in nonresidential construction materials and capital might be shifted to this sector from house building. The Central Mortgage and Housing Corp has predicted that in the period the demand for housing would average units an- nually. In the first three years of this the bank housing completions have averaged New effective Jan. 1. Newsprint producers had expected 1973 to be a year in which newsprint supply would roughly equal demand but strikes in a number of eastern Canadian mills cut production by more than five percent and a national rail strike during the summer hampered deliveries at strike-free mills. Resulting shortages forced newspapers in Canada and the U S. to reduce their newsprint consumption. Canada produces about 10 million tons of newsprint a year and exports about 80 per cent of that to the U.S. Im- ports from Canada account for about 65 per cent of American newsprint needs. W.E. vice-president of marketing for Consolidated Bathurst Pulp and Paper in said the cutbacks in consumption were dramatic and said U.S publishers will probably end the year with in- ventories at their lowest level in years Mr. said despite complaints of shor- supplies on hand at U S. publishers are tons higher than this time last year Mr. Patte predicted the shortage atmosphere will dis- sappear by January or February once publishers see their orders starting to come in and some assurance they will get their supplies Most industry officials ex- pect 1974 will see a return to the delicately balanced supply-demand situation. The jCanadian Pulp and Paper Association expects Canadian production capacity to rise by tons in 1974 due to improved operating efficiency introduc- tion of a new machine and re- activation of four machines mothballed two years ago. No plans for major expan- sion or new mill construction have been announced despite the heavy demand for although officials of most newsprint producers say such moves are being looked at. But their main point is that even at the new price of a ton the newsprint industry does not provide a large enough return on investment to warrant the heavy capital expenditures needed to finance major expansion The industry is being anxious not to see a return to the problems of overproduction early 1970 and 1971. New production capacity was brought in at a time when world demand was low. Rapeseed men told to destroy ballots SASKATOON Rapeseed producers who are undecided about the kind of marketing system they want Should destroy their the Western Producer says in a front-page editorial this week. The weekly farm new- owned by Modern Press the printing and publishing division of Saskatchewan Wheat Pool said ballots are expected to be mailed to rapeseed producers during the next few days The producers are being asked to select a marketing system for the oilseed. The ballot allows a choice between retaining selling under the present open market system through the Winnipeg Com- modity placing it under the jurisdiction of the Canadian Wheat similar to oats and or indicating the producer is undecided. mark your ballot 'undecided' would spoil the vote for others who do know which system they the editorial said The newspaper said some farmers were critical of the claiming it was against the wheat board system An undecided vote will be counted as oppos- ed to any change in the pre- sent open market system The poll is being held Dec. 3 to 14. believe the issue im- portant enough to have a clear choice registered without any unnecessary the newspaper said. December LETHBRIOGE HERALD-29 Cement industry gains strength Small car demand has accelerated By RICHARD ANCO TORONTO The fast-growing small car market in North America is keeping most Canadian auto production lines at or near full capacity Manufacturers are having trouble keeping up with de- mand with the exception of General Motors of the same holds true for inter- mediate and full-size cars. The trend to the small car has been going on for industry spokesmen said Thursday. The current energy with the certainty of higher fuel is probably speeding it up atmosphere in the United States is being trans- ferred to a GM offi- cial said in Ont. There is an of slight in the U.S. because of oil shortages and political uncertainty GM is shutting down its largesize production line in Oshawa for a week next along with 15 such plants in the U.S. The com- pany says it has sufficient inventory of intermediate and full-size cars WILL LAY OFF Chrysler Canada said Thurs- day it will lay off .workers Jan. 2-4 at its Wind- sor. passenger car assembly plant to allow for a buildup in a critical parts shortage situation. A spokesman emphasized the shutdown has nothing to do with a decision by Chrysler Corp. in the U S to convert its Del in January to compact-car production from fullsize models. Windsor's Chrysler produc- tion already is three-quarters on small cars The spokesman are still trying to catch up in production of small cars and large ones too Ford of Canada has no plans to curtail production of any models A spokesman said that for years there has been a gradual in size of car being bought con- gestion and a concern over fuel caused people to look at smaller he said WAIT FOR COMPACTS American Motors Ltd which has promoted its New innovation This CP Rail diesel generating scheduled for service between St. Montreal and is the latest innovation for powering electric motors temperature controlled containers. The 50 kilowatt unit is equipped with an lir-cooled engine capable of driving eight 20-foot or four 40-foot containers for nore than 100 hours without refueling. position in the small-car mar- has a waiting period of five or six weeks for its new stripped-down compact. Jim general manager of the Motor Vehicles Manufacturers' said most Cana- dian car production has been in compact and sub-compact models. Under the auto three of four cars produced in Canada go to the U.S. and the switch away from larger cars is benefiting Canada Independent parts manufac- turers supplying Canadian plants are not being he said. Those exporting parts to U S. plants cutting down on big-car production will feel some repercussions. Most industry sources said the full impact of the energy situation may not be felt until next year. Gasoline frozen in Canada west of the Ottawa Valley until Feb. are expected to jump four or five cents a gallon TRIM INVENTORY GM will lay off up to workers at its Oshawa plant in the week of Dec 17 to trim large-car inventory. As many as will be laid off at the same time in a components plant in St. and an undetermined number at component plants in Wind- sor and Oshawa Compact-car production at GM's Ste Que plant has been increased sub- stantially this year with addi- tion of 800 workers and will be mcreasfed again in January. GM sales in Canada are about 60 per cent for small cars and 40 per cent for regular and large cars. it's not because of the energy a spokesman said. families have bought a small car as a second car and young people are buy- ing the smaller cars. Because of our climate and geography there will always be a market for the regular and bigsize car Chrysler and American Motors have Fuel supply troubles U.S. farms CHICAGp Farmers in the midwestern United States obtained enough fuel for the fall but spring planting is uncertain. Agriculture Secretary Earl Butz told reporters here this week that farmers will have tc curtail their use of but they will be giveri priority. will be but we think we will get Butz said. He didn't go into details Government published this week in the federal register in say priority fuel including will receive 90 to 100 per cent of normal supply U.S agriculture uses between and barrels of oil a day. Total U S. consumption is 17 million barrels a day. Good weather permitted farmers to finish harvesting and plowing in November Many hurried the hardest by purchasing in October and November the diesel oil allotted to them for December and January. Suppliers set up informal allocation last spring when the diesel oil shipments they received began to fall short of demand. Farmers often use fuel for grain drying. So far no grain has rotted for lack of fuel to operate dryers. The good weather helped. record sales this year with the market splitting in two directions. Sales are up for the compacts and also for the highpnced luxury models. Ford's over-all sales increase to mid-November was about 12 per cent. Standard-size Fords were ahead only four per but compacts were up more than 40 per cent and sales of the luxury Thunderbird and Mark although not extensive in total were up 50 per cent over 1972 Chrysler said much of its production lag was caused by Canada's rail strike this a parts shortage and a nine-day strike in September. Now production lines are going full blast at cars a day over two shifts. Demand remains high for the 25 per cent of intermediate-size cars being rolled off. a Chrysler of- ficial had some dealers from Quebec recently who said it's news to them that no one wants intermediate or big cars. They wanted as many as they could Plastic industry ''pinched9 MONTREAL The paint and plastics dependent on oil and gas by- are beginning to feel the pinch because of the energy supply situation and in- dustry spokesmen say shor- tages may occur during the next year. Supplies are inven- tories of materials used in production are and prices will rise as a spokesmen said this week. Some shortages already and one company said its supply of plastic resins is be- ing rationed. David E. presi- dent of the Canadian Paint Manufacturers said a growth will characterize the paint in- dustry in 1974. is too early to say but al- locations may become neces- He said paint manufac- turers will not be able to in- crease their production volumes beyond levels reach- ed this year. Remy president of Les Industries Provinciates of'St. near Quebec said his plastics firm has found it difficult to get supplies. have to cut back pro- duction starting in two he we'll stop at Christmas for two or three Alcan sells subsidiary in Denmark MONTREAL Alcan Aluminum Ltd. has announced it is selling its interest in Aluminord AS of Alcan's fabricating subsidiary in to ASV of effective Jan 1. which holds a 50-per- cent equity in said it is selling 'its interest in Aluminord to ASV for million to ensure the Danish operations can directly complement the Norwegian fabricating operations of Alcan currently owns 92 3 per cent of Aluminord shares Developer Bruce one of the largest land holders in Canada stands at Square a shopping plaza in Mississauga City which McLaughlin is building on the border of Metro Toronto. He owns acres of land scattered across Canada and the U.S. and plans to develop it all. TORONTO In- vestment analysts appear to agree that Canada's cement industry is pulling out of the boom-bust period of previous years and heading into one of expansion and increased prof- its. industry enjoyed a time of steady growth in the early until major work stop- pages began taking their toll. After the industry saw an equally steady decline in share values until between 1969 and 1970 when a bottom was attained. Beaubien a Montreal investment research says that since that sharp turnaround has taken place on the demand side with gradual im- provements in selling prices.'' Since the cement industry's performance hinges on that of other sectors of the particularly op- timistic conclusions also can be drawn in light of expected increased capital spending in 1974. ECONOMY IS STRONG Roily an analyst with Canadian Business said in an interview that a continued strong economy and relative labor peace in the construction industry during 1974 should make cement company stocks an attractive investment. Both Mr. Jones and Le- Beaubien recommend attention to St. Lawrence Ce- ment Co. Ltd. Beaubien says the company is trading at a Phones shares hit quiet note By SANDRA INGALSBE TORONTO For whom does Bell Maybe not for Ca- nadian Business Service says in a recent investment letter. X Shares of Bell Canada are trading near their lowest price in 10 a drop from a high of Canadian Business Service says this is a dramatic and painful decline for a stock so widely represented in con- servative portfolios. While the stock offers good yielding 6.9 per the problem for investors is that its growth potential is limited. Bell's future is uncertain in many the investment advice firm mainly be- cause of vagaries of po- litical SUSPENDED INCREASE Evidence of this was the cabinet's decision earlier this year to suspend the recom- mended rate increase for Bell. the cabinet finally granted in less than half of what Bell had origi- nally asked Another problem is that be- tween now and Bell must refinance a funded debt of about million on which it pays an average interest of 5.34 per cent. during the present pe- riod of high interest Bell must refinance about million of this on which it pays an average of 4.15 per cent interest. Also during the Bell will have to finance more than one-third to one-half of its capital spending program. This is about equally divided between debt and pos- ing the possibility of dilution. On the brighter side is Bell's proposal to sell about 10 per cent of the treasury stock of Northern its wholly owned but much depends on its initial Canadian Business Service says. EXPECTED TO GROW Bell's revenues are ex- pected to grow for some time because of the addition of new services and increased tele- phone and it should get periodic increases. Anyone who is in Bell for growth should but for others the decision is mostly dependent on the individual investor's financial position and tax the service says. Bell offers little else other than good it at least offers a certain peace of mind which is more than can be said for investments in oil stocks these days. investor seeking income from stocks is wiser to seek it through a security that offers 'a combination of yield and potential for It recommends shares of Canadian Bank of IAC or Maple Leaf Mills for potential switching. level gives little recog- nition to the strong earnings growth forecast this current year and St. Lawrence's strong ex- posure to the Quebec is expected to grow rapidly in the intermediate coupled with a high level of U.S. where cement remains in short sup- indicates a full utilization of Mr. Jones said that St. the second largest cement producer in should record an impressive gain in sales this year. NAMES ANOTHER FIRM Lake Ontario Cement Ltd. is another stock recommended by Mr. Jones. probably place Lake Ontario on the top of any list for cement company Beaubien also suggests a look at Canada Ce- ment Lafarge Ltd. which rep- resents attractive long term investment in view of much improved industry fun- Lincolns recalled OAKVILLE. Ont. Ford Motor Co. of Canada Ltd. announced it is recalling 513 Lincoln Con- tinentals and 84 Cougars for a check of possible defects. All are 1974 models The Continentals may have improperly routed starter cables and the Cougars a possible fault in the park mechanism. The recall also involves 744 Continentals and 360 Cougars m the United States Only a small number are es- timated to have the possible faults. Real estate shares halt VANCpUVER Trading in shares of Block Brothers was halted on the Vancouver and Toronto stock exchanges Friday. A spokesman for the Van- couver exchange said ilie halt in trading was made at the re- quest of the Vancouver-based real estate firm the release of No further details were available immediately. RECORD SURPLUS WIKSBADEN Germany had a record trade surplus in October of bil- up from the previous high in September of the government reported Wednesday. In the first 10 months of the the trade surplus totalled far exceeding the surplus of billion for all of 1972. H. H. Smith Ltd. Customs Broker MIURY PHONE 283 8050 Lilhbndgi Phoru 328-8141 604-424-5458 COUTTS Home Office Phone 344-3822 IN Stay At the RIVIERA For Complete Livestock Sales and Servloe. Monday p.m. Feeder Hog 250 Head Top Quality Plui Caivta WEDNESDAY a.m. FAT and FEEDER CATTLE 300 HEAD THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLOR TV For Your Convenience in Making Reservations CALL AND ASK FOR LONG DISTANCE ZEnith 0-7255 at no coat to you IVIERA MOTOR HOTEL 5359 Calgary Trail Alberta 434-3431 037-2510 call FRENCH a.m.l FAT and FEEDER CATTLE SALES Friday -1 p.m. Special Stock Calf 600 10 BOO HEAD iSLAUGH CER HOGS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SELL FAT AND FEEDER LAMBS DAILY. WE CARRYHARTFORD INSURANCE ON ALL LIVESTOCK. ExctllMttKilltlu lor hogs. I ___ __v___-.______ ___ _ EDFRENCH 328-2986 OANKLASSEN 345-4358 KEN MILLER. Min'th 758-6607 LOUDEJA6ER 345-4489 WHITHENIN6ER 328-7354 ______________________________________j CONSIGN ALL YOUH LIVESTOCK C. E. FRENCH LIVESTOCK the Heart ol Canada s Ranching Country 327-0101 327-3986 Alberta Stockyarda P.O. BOX S.S. LETHDRIDQE. ALBERTA ;