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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 17, 1974, Lethbridge, Alberta Tuesday, December 17, 1974 THE LETHBRIDGE HERALD 19 Physician cares for mine, steak house TORONTO (CP) Dr. Kenneth Roberts is a man with a bedside manner and a Midas touch. In the telephone book, he is listed as a physician with his office in the downtown Toronto Dominion bank tower. But over the years, he has counted a mining concern and real estate development among his patients, not to mention a few steak houses. Recently, he completed his most successful finan- cial operation. Bustling from his office to the nearby King Edward Hotel, he launched a major new Canadian corporate entity in two, 15-minute meetings. Called Hambro Canada Ltd., it is a merchant bank with gross assets in excess of million. His financial prescrip- tion started with a gold mine in 1944. Along with a mining engineer, Art Honsberger, Dr Roberts became a sub- stantial shareholder in Elder Gold Mines Ltd. with a property about nine miles from Noranda, Que. As a mine developer, the doctor took control of the Elder mine in a proxy fight in 1949. He also helped br- ing into production Eldrich Mines. don't find-a gold mine every day." "So I decided we should take a shot at real he said in a recent inter- view. Dr. Roberts and a few others took about million in gold mine profits and put it into real estate. They bought more than acres at the south end of prize bull and cow pasture land. The mine kept going and helped them to hang on to the undeveloped proper- ties, he said. To emphasize the shift from a mining base, the company name evolved from Elder Mines and Development Ltd. to Elder -Peel Ltd Later, when the Peel Village development became the dominant interest the name was switched to Peel-Elder Ltd. In 1959, Dr. Roberts decided that while owning a good part of a gold mine is a nice thing, the trouble Now Peel-Elder is slated to disappear into Hambro Canada Ltd. which in the last two years has acquired what now amounts to 95 per cent of the outstanding shares of Peel-Elder The Hambro name dates back to Dutch merchant bankers of 400 years ago, who settled in England about 1830 and now fi- nance such things as super tankers and 747 jet air- craft i Season's best to you, this Christmas Day. We appreciate the patronage shown to us. From our staff GEORGE DRUHAN Manager CARL STEVE FLEMING Sales WELDERS SUPPLIES LIMITED 2810-5th Avenue North, Lethbridge Phone 327-7249 Peel-Elder takes into amalgamation gross assets worth between and million. Then there is a variety of other things such as a share in 60 or more Ponderosa steak houses. One unofficial estimate places new capitalization around to million. Dr. Roberts, who was president and chief ex- ecutive officer of Peel- Elder, will take a lessor role as deputy-chairman of Hambro Canada. "I have been divesting myself because of advanc- ing the doctor said. "I began an orderly retreat two years ago by bringing the Harnbro group into the whole area." LETHBRIDGE ARTIFICIAL BREEDERS MIKE DONKIN ARNOLD VAN KEESEL 327-8822 A.B.S. A.I. SCHOOL 1975 MARCH Semen Available from all Bull Studs and All Breeds Order Your M.R.I. Semen Early! To our old customers, our new customers, our future customers, friends and aquaintances from GORDON ANDERSON AND STAFF HAPPY and PROSPEROUS NEW YEAR! ANDERSON SUPPLIES LTD. WARNER, ALBERTA JOHN DEERE PONTIAC BUICK CMC TRUCKS Phone Sales 642-3845 Parts 642-3944 ;