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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 27, 1975, Lethbridge, Alberta Thursday, February 27, 1975 THE LETHBRIDGE HERALD 31 a Down in last two years Investment clubs in Canada record big drop 4- i I "A A v' I -V TORONTO (CP) The number of investment clubs in Canada has dropped con- siderably in the last two years as stock prices skidded to 12- year lows. But many continue to operate with supporters say- ing the real aim is not to make a fortune but to learn about the slock market and how to handle money. An investment club usually is formed by a group of about 20 friends or business ac- quaintances who contribute a fixed, moderate amount of money each month, then meet regularly to decide how to invest. It is estimated that there are about clubs in Canada. In the late 1960s, when stock prices were rising, the number of clubs was es- timated at to "Some of the failed clubs were moved more by greed and ideas of fast profit than by a desire to says Judy Pullen, a former stock trader and Toronto Stock Exchange employee who is secretary of a Toronto investment club. Mrs. Pullen says the drop in stock prices in 1973 and 1974 was "a depressing experience for club members." But, she added, most club members now understand that the main objective is "to learn co-operatively something about the stock market and how to handle money." Members of her club take turns on study groups. A three-member group each month studies an industry plus two specific companies within that industry. Their reports are presented to the club's monthly meeting and sometimes lead to a decision to invest. Doug Smith, a stock broker and president of the Canadian Association of Investment Clubs, says without such a study program the purpose of an.investment club will evapo- rate. One Toronto stock salesman says the clubs can be a nui- sance. "And many people in this business can't or won't give them much help in the way of research information or guid- he says. "The clubs don't produce much in the way of brokerage FIRST CANDIDATE John C. Fremont, soldier and explorer, was the first Republican candidate nominated at the Philadelphia convention in 1856. Beer can collection Five youngsters of Mr. and Mrs. Charles Dreher, of Gary, N.C., climb on their huge pile of beer cans they have helped their father collect over the last two years. Dreher says he hopes to get 15 cents a pound for the cans or between and a thousand dollars. The money is to help with an education fund for the children and to teach them the value of working toward a goal. Economic production bulk for markets drops slightly OTTAWA (CP) The volume of economic produc- tion for domestic markets slumped in the fourth quarter to the lowest point for 1974, Statistics Canada reported yesterday. The agency's index of real Paper company to build ,6M research centre VANCOUVER (CP) Mac- millan Bloedel Research Limited announced today it will build an J8.6 million research and development centre in South Burnaby, about 12 miles from central Vancouver. Denis Timmis, president and chief executive officer of Macmillan Bloedel, said the building will house research staff now spread over three Vancouver locations and it will provide improved facilities. Mr. Timmis said the deci- sion to go ahead with the pro- ject had been taken in the face of the current economic climate and the depressed state of some segments of the industry. "There are extraordinary problems facing the forest in- dustry today that place onerous demands on our research and development he said. "We are concerned about energy and raw materials shortages as well as the need for increasingly sophisticated pollution abatement measures. These pressures are expected to increase in the years ahead, which means we must move now to retain our leadership in the in- dustry." The centre will be built near the company's paper bag plant on the Fraser River. Covering square feet, it will include laboratories, pilot plant facilities, offices, an auditorium, library and cafeteria. It has been design- ed so that any part of the building can be expanded or modified to meet future demands to at least the year 2000. Mr. Timmis said total staff will be 150, an increase of 30. Man of the year CAMBRIDGE, Mass. (AP) Film star and producer Warren Beatty will be named Man of the Year by the Hasty Pudding Theatricals of Har- vard University, club officials said Wednesday. It will be the second such, award in the family. CAREERS ACCOUNTANT Large industrial distributor requires an ex- perienced accountant at the head office in Leth- bridge. The successful applicant will have one or two years of formal accounting training or equivalent experience. A familiarity with or an interest in data processing would be helpful. Write stating qualifications and experience to J. V. Scotter. C.A., Oliver Industrial Supply Ltd., 236 36 St. N., Lethbridge, Alberta. domestic product was down one per cent. The index is one broad measure of how much the economy produces. It counts numbers of items and not. price, discounting the effects of inflation. The real domestic product index is an early indicator of performance of the economy. Gross national product figures for the fourth quarter of 1974 which count all production in the economy, both for domestic and foreign markets are due out in about a week. .Virtually all the gains in production for domestic markets were made in the first three months of 1974, when the index rose by two per cent. It went up one-tenth of one per cent in the second quarter and declined by two- tenths of one per cent in the third. With the release of new index figures, Statistics Canada has revised downward its estimates of production in the three previous quarters, which means the estimate of production for the year was less than previously es- timated. There was a 3.6-per-cent increase in the annual figures for real domestic product, comparing 1974 with 1973. Manufacturing, which ac- counts for one-quarter of domestic production, was up only 2.7 per cent during the year. Areas of economic ac- tivity where gains were above average in 1974 were financial institutions, and community, business and per- sonal service industries. Domestic production in the industrial portion of the economy manufacturing; mining and oil wells declin- ed in each of the last six months of the year. In the 'last quarter, the index for manufacturing was down 1.8 per cent and for min- ing and oil wells down six- tenths of one per cent. Construction, due to a slump in house building, was down 2.7 per cent in the fourth quarter. Despite over-all gains for the year, consumer buying was weak in the fourth quarter and the index for trade was down 4.6 per cent in that quarter. ALBERTA HOG PRODUCERS MARKETING BOARD REQUIRES A livestock yard supervisor and general yard help for the Board's Lethbridge Hog Terminal. Persons are invited to write or phone Alberta Hog Producers Marketing Board at 6113-101 Avenue, Edmonton, Alberta Phone 465-6181 Sears on easy-care 3-piece knit pant suits in Spring 75 shades... From one of Canada's leading suit makers. Terrific value in every style and easy care. Jackets, pull-on flare pants in polyester-acetate double knit. Turtleneck short-sleeved pullover of rib-knit polyester has back zip. Machine-wash-dry. Only 2 of 4 styles rust, powder blue, green, all colors all sizes, styles. Misses' 10-18. a. With diamond-check patterned jacket. 17R000872 b. With diagonal dotted-square patterned jacket, i 7R 000 873 Ladies'Suits Simpsons-Sears Ltd. Enjoy it now! Use your All Purpose Account. At Simpsons-Sears you get the finest guarantee. Satisfaction or money refunded. STORE HOURS: Open Dally a.m. to p.m. Thursday and Friday a.m. to p.m. Centre Village Mall. Telephone 328-9231 ;