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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - January 14, 1974, Lethbridge, Alberta Taxi driver on trail of diamond discovery TORONTO (CP) - Bruce Anderson, a Toronto taxi owner-driver, says he's on the trail of a big diamond discovery. The location is secret but he knows what he's looking for. Mr. Anderson, spends most of his spare time researching and hunting for diamonds and says an expert knowledge of where and how to look is needed. This summer he'll collect some help and head for a lo-. cation he declines to disclose to search for kimberlite, host rock of diamonds. Mr. Anderson, 58 and a wid-owerl started prospecting in 1936, looking for gold in British Columbia rivers. His interest shifted to crystalline stones about 1960 and after three years of research he has "evolved my own theories." "Diamonds are not really rare, but only a few of us are capable of hunting for them with any chance of success," he said in an interview. . GM questions order on safety DETROIT (AP) - A federal judge has issued a temporary restraining order suspending an order by the National Highway Traffic Safety Administration that owners of 60,000 old Cadillacs be notified of an alleged defect in steering mechanisms. �:iirlier, the traffic safety agency had ordered General Motors to notify the owners of the 1959-and 1960-model Cadillacs that a serious safety defect existed in the cars' steering mechanism. The safety administration had also suggested that GM recall the cars and fix the defect at no cost to the owners. But GM, which maintained in a statement that there is no defect, immediately appealed the order, and U.S. District Court Judge Charles Joiner granted the automaker's request for a temporary restraining order. Joiner ruled the traffic safety agency must appear in court Jan. 15 and show cause why his order should not be continued. If the order is continued, a trial date will be set to decide whether to issue a permanent injunction. The agency said it had discovered a defect in the pitman arm, a mechanism that connects the steering shaft with the steering linkage. It said an investigation showed that metal fatigue from stresses during low-speed turns and parking manoevres could cause the arms to fail without warning, "causing complete steering loss and thus creating an unreasonable risk of accidents, injuries and death to driver and passengers." Rapeseed producers shun board SASKATOON (CP) -Rapeseed producers have shown their confidence in the open market by rejecting the option of Canadian Wheat Board control of their produce, says Peter Hoffman, secretary of the Winnipeg Commodity Exchange. Mr. Hoffman was commenting in a telephone interview on the results of vote by eligible rapeseed producers on whether the oil seed should be marketed through the wheat board. He said results of the vote indicates producers are satisfied with profits under the current system. Volks sales slip, Audi Porsche up TORONTO (CP) - Combined retail sales of Volkswagen, Porsche and Audi vehicles last year totalled 36,296, up 1.2 per cent from 1972 sales, Volkswagen Canada Ltd. said today. Sales of Volkswagens were down to 31,772 from 34,511 but sales of Audis rose to 3,510 from 415 and Porsches to 1,014 from 939. Bruno Rubess, president of Volkswagen Canada, said: "While it is generally anticipated that new vehicle sales for 1974 will be somewhat below the record levels of 1973, we expect to maintain our volume of 1973, due to the pronounced shift of public preference to smaller and less wasteful automobiles." Prices for diamonds are kept high, he said, not by scarcity but by the withholding, pricing and marketing policies of major producers. Canada has long been suspected of having great diamond potential. An early theory, based on accidental discoveries of "tramp diamonds" in moraines of the last glacial period that stretched in an arc through the Great Lakes from Montreal to Wisconsin, assumed that James and Hudson bays held the "mother lode." Mr. Anderson said: "It only held up until the time that persons with a real knowledge of diamond-source hunting, including myself, started to nail down kimberlite occurrences, most of them a long, long way from Hudson Bay." One of Mr. Anderson's early explorations turned up kimberlite occurrences in a Kirk-land Lake gold mining camp. Through intermediates to maintain secrecy, he acquired a large acreage in the region. A short time later, he said, surrounding territory was acquired by the De Beers group of South Africa, a powerful diamond mining and marketing concern. De Beers has been exploring in the Abitibi area of Ontario and He Bizard near Montreal, but so far has reported nothing of economic quantity, Mr. Anderson said. High hog prices may not hold CALGARY (CP) - The current high prices for hogs may not hold much longer, A. J. E. Child, president of Burns Foods Ltd. of Calgary said today. "The demand for pork products is decidedly weak. Freezers are full of frozen pork because the Canadian consumer is evidently not interested in pork at present prices. Export demand is very limited, and cheap pork cuts are coming into Canada from the United States." He said the selling prices of fresh and frozen pork products are well below the equivalent cost of hogs. Due to the lack of consumer demand, all the hogs presently being slaughtered are not being sold. This means that hog prices'are due to fall unless demand for pork can be stimulated. Mr. Child said provincial governments and marketing boards should start thinking about a campaign to get Canadians to eat more pork. Otherwise they may soon be facing angry hog producers. British Columbia to face major industries strikes VANCOUVER (CP) - A British Columbia Federation of Labor spokesman says the province faces long strikes in major industries to meet rising prices. Len Guy, secretary -treasurer of the federation, said Sunday that 1974 is a major contract negotiating year for many industries and there will be many walkouts unless union demands are met. "Workers will have to get very high settlements just to maintain increases they got two years ago because of the high inflation," he said. Mr. Guy made the comments following a short speech to the 13th annual B.C. Young New Democrats convention Sunday at the University of B.C. Mr. Guy said the construc- tion and forest industries would be the two hardest areas to negotiate. The last two contract talks for these industries were highlighted by long and bitter strikes in 1970 and 1972. This year union contracts covering more .than 185,000 workers, including both these industries, are up for negotiation. The Herald- Monday, January, 14. 1974 - THE LETHBRIDQE HERALD - 17 Business stocks Miscellaneous Vancouver, Calgary, Montreal Canadian car Jesse Gagnon leans on the roof of the "Gresko", one of many automobiles on display at the Montreal International Auto Salon. The Gresko is built by Gresko Automobiles Inc. of North Montreal with a Ford V-8 motor and fibre-glass body. The car should be in production by next June and will cost $13,500. The Auto Salon show ends Jan, 19. No gasoline shortage in Canada OTTAWA (CP) - There is no gasoline shortage in Canada, according to a recent survey, but'the price motorists pay per gallon can vary as much as 15 cents between the eastern and western provinces. "It has become apparent that the energy crisis in Canada is not affecting our gas pumps anywhere nearly as much as our pocket-books," F.R. Fenton, president of the Canadian Automobile Association (CAA), said here. After contacting 325 service station owners across the country the CAA found Alberta has the lowest prices-a gallon of regular gas costs 52 cents there, but in eastern Quebec the same amount costs over 67 cents. Part of the reason for this disparity, said Mr. Fenton, is higher provincial taxes in the east. Generally motorists east of the Ottawa Valley line pay at least 10 cents more a gallon than those on the Prairies. B.C. and western Ontario are about the same at 57.9 and 58.3 cents respectively while a regular gallon in New Brunswick and Nova Scotia is up to 65 and 66 cents. No figures were released for Newfoundland. The CAA has no branches in that province. The CAA report also found that service station owners in Canada do not anticipate any gasoline shortages in the near future. 1 Alaska gas pipeline supported ANCHORAGE (AP) - The state of Alaska is 8tq>porting companies backing a gas pipeline paralleling the trans-Alaska oil pipd&ie. Gov, William Esan said Sunday the state would benefit from industrial development that would follow a cross-state gas line. His comments came in a television appearance in which he was flanked by executives of competing oil firms. . The El Paso Natural Gas Co. is prroosing a |^biUlon project, "rhe 800-mlle line would extend from Prudboe Bay to a pnqwsed Uquif ication plant on the Gulf of Alaska. It was the first time Egan had made a puUic endorsement of the project since El Paso Jumped into competition with the Canadian Arctic Gas Studv Co. which is proposing a pipeUne throu^ the Canadian north to the midwestern United States. Both pipelines would move natural gas that will follow crude-oil production at Prudhoe Bay, possibly some time In 1980. WESTERN OILS AND MINES A�on Mines Albany Oil Almlnex Asamera Ashland Alta East Qas BP Canada . Brenda Mines Can South' Cdn Ex Qas Cdn Homestd Cdn Ind Qas Oil �Cdn Long Is Chieltan Cdn Super Dome Pete Dynasty Fort Reliance Qiant Mascot Granlsle Qt Plains Gt Cdn Oil S Lochiel Ex Lytton MIn Noble Mines North Cdn Oils Numac Pan Cdn Pete Pan Ocean Petrol Pinnacle Place Qas Ponder Ranger Oil Scurry Rain Seibens Spooner Total Pete Ulster Pete United Canso Wesfcoast Pete West Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitalne BC Sugar Pfd Blocit Bros Cdn Pac Inv A Pfd ' Com Cap Corp Carling O'Keefe A Pfd Carling O'Keefe B Pfd Crestbrook Ind Crowsnest Ind Falcon Copper F and M Trust Qenstar Global Com Unit Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky Oil B Pfd Husky D War Husky E War Hys of Canada Inter Prov Pipe Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonlcs Pacific Pete Pacific West Air Pe-Ben Oilfield Rainier Inc Royal Trust 8.00 .73 7.12V� 12.50 11.60 e.so 11.50 7.76 5.12'/4 3.30 7.00 8.75 .18 10.25 57.00 39.25 9.12'/i .22 2.35 8.50 27.00 10.00 2.65 1.10 .82 6.00 16.37% 13.00 16.00 1.70 .21 .42 .55 46.00 21.50 17.50 .35 7.00 1.39 22.12~.:. Elks Stores 'z to $14. Maclean-Hunter A c and Brenda 'i to $7'>i. Madeleine Mines fell 20 cents lo $4.20 and Campbell Chibougamau '�lo $7. Page Petroleum gained 15 cents to $;i.75 while Asamera Oil dropped I''" to $l2>i. MONTREAL (CP) - Prices were higher in light trading on the Montreal slock market today. Volume on the Montreal Stock Exchange at 11 a.m. was 256.100 shares, compared with 343.400 at the same lime Friday. Banks rose 1.58 lo 260.76. the composite .30 to 217.28. industrials .18 to 232.74. utilities .12 to 139.04. and papers M to 124.15. Inglis Ltd. rose I'z to $14':. Royal Bank ''n to $32'vii. Systems Dimensions Ltd. '2 lo$14'2. Massey-Ferguson '� Areas //A ---r-H N / / / /Peace River ^ i / J Oil^ands J^l / /\ Athabasca ^-^ Oil.Sands Jasper Edmonton / '\ A* ! Banf Red Deer ^Igory/ Lethbridg< *^  X Medicine Hat 200----------^ Oil and gas areas Alberta'$ natural gas and crude petroleum production Is expected to be stepped up in 1974 to meet growing demand. Oil production is expected to reach 634 million barrels in 1974 while natural gas production is expected to climb to 2,400 trillion cubic feet. Map locates principal areas of current oil and gas production and oil sands areas. Registered Retirement Savings Plan 'B' Now at HIGH INTEREST , TAX + SAVINGS No MninlitraliM Ctwiw PLAN "A" SELF ADMINISTERED - NOMINAL FEE� y^^nRMERS ftMERCMNTS THUS 309 7th St. 8..L�thbrldg� Phone 328-5548 ;