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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 6, 1974, Lethbridge, Alberta WcdfM0day, February THE LETHBRIOQE HERALD 5 Retired business executive named By NEIL GILBRIDE OTTAWA (CP) Retired business executive Richard, Murray has been appolnterf by Prime Minister Trudeau to head the new Foreign In- vestment Review Agency, and pledged a strong hand against takeovers. "I believe it is time to slow down, to arrest in some degree, the seemingly endless sale of our resources, our companies, outside of Mr. Murray said. The 56-year-old former managing director of Hud- son's Bay Co. appeared at a news conference with In- dustry Minister Alastair Gillespie. Mr. Gillespie said he hopes to have the ma- chinery in operation to imple- ment the Foreign Investment Review Act no later than March. Mr. Murray's appointment as commissioner of the review agency at the salary level of deputy minister of in- dustry is effective Feb. 18. Mr. Gillespie said the agency is expected to start with about SO officers and staff and rise to perhaps 75 in its first year. Mr. Murray said the en- forcement of the new law re- quiring foreign takeovers to be of significant benefit to Canada was not anti- American, but designed to help Canada develop its own society and economy in its own way. "Sir Wilfrid Laurier said the 20th century belongs to Canada. He did not say Canada would belong to toe United Mr. Murray commented. LARGE HOLDINGS U.S. firms control about 80 per cent of the heavy foreign investment in Canadian business and industry. "I do not mean to say foreign individuals can't be good Canadian citizens and that foreign corporations can't be good corporate he added. The law is aimed at reduc- ing the number of outright foreign takeovers of Canadian businesses, not to halt foreign investment, he said. "Is there not anything we can run Mr. Murray asked. "I hope the United States as a whole will understand the purpose of this act as not being be said. Mr. Gillespie said no final determination has been made in his inquiry into two major U.S. purchases of Canadian firms, the bid of R.J. Reynolds Inc. of Wintson- Salem, N.C., to buy Mac- donald Tobacco Inc. of Montreal for a price rumored to be million and the million purchase of Etnco Ltd. of London, Ont., by the Michigan plumbing and metal-working conglomerate, Masco Inc. Neither firm, so far, has satisfied him that the purchases will significantly benefit Canada, Mr. Gillespie said. He still is waiting to hear from a high Reynolds officer on further information. Moth problem in Montana WASHINGTON (AP) The U.S. forest service says the Tussock moth is becoming a problem in Montana. The troublesome moth already has caused severe damage in Washington, Idaho and Oregon, and the agriculture department has asked the environmental protection agency for permission to use DOT against the moths. The agency says the pesticide, which now is banned, will be used only if it becomes necessary. Other methods of control are being tested. Jury says service stations should not have basements SAINT JOHN, N.B. (CP) A coroner's jury probing a Jan. 4 explosion at a. service station which claimed five lives has decided the explosion was caused "by the ignition of gas vapor fumes in the enclosed lower portion of the service station." The station, at Reversing Falls, was owned by Irving Oil Co. Ltd. After deliberating less than an hour, the jury also recom- mended that Fire Chief Percy Clark's recommendations be implemented in their entirety and all future service stations be of a single-level construction. Provincial deputy fire mar- shal Melvin Vincent of Saint John testified Tuesday that the explosion was a "result of a truck knocking over a dis- pensing unit and injuring pipes feeding the unit." "As a result, gasoline, which is heavier than air, went to the basement and vaporized fully in the space occupied by Maritime Tire Mr. Vincent said. The mixture of air and gaso- line was ignited by a spark from either the furnace or compressor outside the tire examining room in the basement, he added. "In all probability the spark resulted from the starting up of the furnace in the Maritime Tire examining room." His findings were supported by Edmund B. Mclaughlin, professional consulting engineer from New York, who estimated between 770 and gallons of gasoline had vaporized in the completely enclosed basement to bring it to the combustible level. Gelase Gallant, an Irving Oil Co. maintenance man, said automatic shut-off valves for tanks at the station had not been checked since they were installed about seven years ago. He said pipes to 12 fuel- dispensing units ran along the ceiling of the Maritime Tire premises located in a basement below the; station. SECOND BIG WEEK ROBIN HOOD FLOUR 20lb.bag 39 2 KRAFT RE6UUUI CANADIAN CHEESE SLICES Prices Effective Thru Saturday, February 9th CLOSING 11b Regal with Pectin STRAWBERRY JAM 24fl.oz.Un NESTLE OUIK 69 o CHOCOLATE 2lb.netwt.tin FINEST MEATS 89 o JELLY POWDERS Nabob Assorted 3-oz.pkg. SURF DETERGENT 5-lb. box King Size GOLDEN YELLOW BANANAS CANADA FANCY GRADE ANJOU PEARS SOVERNMENT INSPECTED CANADA GRADE A BEEF CHUCK ROAST or ROUND RONE CROSS RIR ROAST STORE LOCATIONS 2025 Wijit DriM CsHsfilllWI 420 6tt Strait 1 29 .98 1 CANADA NO. 1 GRADE LARGE SIZE CUCUMBERS MA M MMMM 3Z4 inyir Drivt INSTANT COFFEE 149 39 or SPAGHETTI 65 CHOICE YOUN6 ALBERTA PORK PORK LOIN CHOPS OMEHl ROYAL BREAKFAST PURE PORK SKINLESS SAUSAGES Ik. PH. 99 75 FRENCH FRIES MEAT PIES COUPON WHITE SWAN FACIAL TISSUE CLOSE-UP TOOTHPASTE 89 SIDE BACON Bf ftxPficiMf IMfffEll Ml 1 05 MOOTIWkSH 17 Monton Manor VEGETABLES 14ft.OT.ftn CRACKERS Osff l.Ri. IB p.m. f UN! Friday IJL to SiMiy IJL to P.M. ;