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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 18, 1974, Lethbridge, Alberta Wednesday, Dtctmbtr 18, 1974 THE LETHBRIDGE HERALD 51 Sugar Prices (Per 5lb. Bag) (Predicted) 1973 1974 1975 Sugar price cut hinted A five-pound bag of sugar selling in December for will probably cost between and near the end of 1975, Neil Shaw, president of Redpath Industries Ltd., has predicted. Mr. Shaw said that even after the downward trend runs its course, the industry will never go back to the price of seven to 10 cents a pound that was so common a few years ago. Industries hit by order cuts By GEORGE KITCHEN NEW YORK (CP) Just a few months ago, most United States industries were plagued by mounting backlogs of customer orders which they found it difficult, and sometimes impossible, to fill on time Shortages of materials, goods and parts were a cons- tant irritant to producer and consumer alike and prices rose steadily as demand out- paced supply week after week. Many industries prepared to expand their plants to boost production and meet demand. Suddenly, almost overnight, the industrial scene is being swept by a plague of another sort. Order cancellations. The result, says Business Week magazine, is that the back orders, which many firms had been counting on to see them through the current economic slowdown, are evaporating. the magazine says in its current issue, "an ominous trend seems to be de- veloping on the nation's already gloomy economic scene. The threat of a wave of order cancellations and deferrals with new orders falling, any big hemorrhage of previously-booked orders would accelerate the economic decline." EMPLOYEES JOBLESS The flood of cancellations has brought plant expansion plans to a quick halt and many firms are laying off employees by the hundreds until their orders strengthen again Unfilled orders for manufactured goods, after rising steadily since mid-1973, began turning down for the first time in October. U.S. commerce department figures indicate the slowdown in new orders: Down to 0.9 per cent in October from 3.6 per cent in September. The Wall Street Journal sug- gests that, in many cases, to- day's order cancellations are a direct result of yesterday's world-wide shortages. The shortages prompted many companies to place orders for a single item with two suppliers to see which would deliver first. Now, with business slackening, one of those orders is being cancelled. However, the cancellation rate appears to be higher than the double-order rate. The National Association of Purchasing Management sur- veyed its members in July and found that 12 per cent planned to cancel or defer a significant portion of their orders during the ensuing 90 days. That per- centage rose to 25 per cent in October and to 33 per cent in November. The National Machine Tool Builders Association reports that order cancellations in October were 72 per cent above the average for the first nine months of 1974 and almost triple the monthly average for 1973. Cancellations and deferrals are being reported by almost all segments of industry: Air- craft producers, textiles and apparel, chemicals, paper, ce- ment, aluminum companies, electronics and semiconduc- tors, office equipment firms, rubber producers and others. The slowdown in orders has its brighter side. It indicates the virtual elimination of many of the shortages which plagued the industrial world and its customers just a few months ago. "A more promising result of the demand slowdown may come on said BusinessWeek. "Thoughcom- panies still complain of rising costs, several others report that prices are actually easing. And some say that they are able to bring price concessions from suppliers "on threat of cancellation." Electric typewriter sales "showing robust vitality' New York Times Service NEW YORK In a far from healthy national economic scene the electric typewriter business is show- ing robust vitality. How long this rosy glow of fiscal well being will remain is a question but most experts in the field expect the industry to show about a 15 per cent growth rate in 1975 duplicating its 1974 perfor- mance. "I wouldn't claim we're recession proof but the in- dustry is showing signs of be- ing recession James N. Mills, president of the Royal Typewriter Com- pany division of Litton Ind- Inc. commented. He explained, "as we look at it, the office is the last remaining area of the business environment that can be significantly improved with regards to efficiency. In an era of belt tightening it is natural to look to the office as a place to cut costs." In 1975 about one million typewriters will be sold with more than 75 per cent of this total being electric. Healthy electric sales contrast with static manual and portable sales. The price range for the machines ranges from around for a standard manual machine to as high as for specialized electric machines. TOPS IN BIG EIGHT Oklahoma captured baseball and tennis titles in the Big Eight in 1974. Lessons learned from 1930s Banker sees little danger of economic breakdown MONTREAL (CP) There is little danger of a serious world economic breakdown because of lessons learned from the depression years of the 1930s, G. Arnold Hart, Bank of Montreal chairman, said here. Addressing the annual shareholders' meeting, Mr. Hart said, "history is not like- ly to repeat itself" because of major differences in in- stitutional arrangements and greater sophistication in financial economic management. However, "if anything brings our economic system down around our ears at some time in the future, it will be cautioned Mr. Hart. "Now that inflation has been given its head, there is no single or simple way of bringing the beast to heel in the short run without wreak- ing havoc on the system as a whole." The fight against inflation would require continuing "moderate restraint" on the part of the world banking fraternity. Although the international banking network had been put through a severe test during the last year because of the extreme unpredictability of financial and economic con- ditions, it stood the test well, he said. Two such indicators were the growth in volume in inter- national money transactions and the growth of inter- national trade. r Sears _ PRE-CHRISTMAS RECORD SPECTACULAR ELTON JOHN Hits' MCA Records GEORGE HARRISON 'Dark House' EMI Records Limited OLIVIA NEWTON-JOHN 'If you love me, let me know' MCA Records JOHN LENNON 'Walls and Bridges' EMI Records Limited Sonny Cher Greatest Hh ANNE MURRAY 'Highly Prized Possession' Capitol Records SONNY CHER 'Greatest Hits' MCA Records HITS CHER Hits' MCA Records DONNY MARIE OSMOND 'I'm Leaving It All Up To You' MGM Records BACHMAN-TURNER 'Overdrive' Mercury Records OLIVIA NEWTON-JOHN 'Let Me Be There' MCA Records JAMES LAST 'In Vienna' Polydor Ltd. RINGO STARR 'Goodnight Vienna' EMI Records Limited THE STING SCOTT JVflltt ELTON JOHN 'Caribou' MCA Records MUSIC OF SCOTT JOPLIN Original Motion Picture Soundtrack 'The Sting' MCA ROD STEWART 'Smiler' Polydor Ltd. PAUL McCARTHNEY on the Hun' Capitol Records of Vol. 2' Polydor Ltd. PINK FLOYD 'Dark Side of the Moon' Capitol Records Simpsons-Sears Ltd: Enjoy it now1 Use your All Purpose Account At Simpsons-Sears you get the finest guarantee. Satisfaction or money refunded. Store Hours: Open Daily a.m. to p.m. until Christmas Centre Village Mall Telephone 328-9231 ;