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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 17, 1975, Lethbridge, Alberta Friday, January 17, 1975 THE LETHBRIDGE HERALD 11 Ottawa guarantee paves way for Montreal oil pipeline OTTAWA (CP) The federal government has agreed to provide financial guarantees paving the way for construction of a long-delayed oil pipeline into Montreal, Prime Minister Trudeau said Thursday. The cabinet approved a pro- posal under which Ottawa will protect Interproyincial Pipeline Ltd. of Toronto, against any loss if the pipeline is not fully used. A financial guarantee against losses was the major stumbling block holding up construction of the 520-mile extension of the pipeline to Montreal from Sarnia, Ont. Company president D. G. Waldon said in Toronto he will not comment until he receives official word from Ottawa on the agreement, negotiated with Energy Minister Donald Macdonald during the last three months. A spokesman for Mr. Macdonald said meetings with the company probably will be held next week. The prime minister said un- der the terms of the agree- ment the government will make up any losses incurred by Interprovincial if the flow of oil through the pipeline drops below its full capacity of barrels a day. He added that the cabinet has agreed to take whatever measures necessary to go ahead with the pipeline, which the government says is need- ed to provide a secure supply of oil to Montreal. Company officials said earlier threatened shortages of domestic oil in the early 1980s might prevent using the pipeline at its full capacity, resulting in losses for the company. In its negotiations the com- pany sought a minimum reve- nue guarantee under which Ottawa would help pay the fix- ed operating costs of the pipeline. Government contribution to the estimated million an- nual fixed costs would depend on how much the oil flow fell below barrels a day, the company said. Interprovincial applied to the National Energy Board last spring for permission to build the line after the federal government Wianged its oil policy, allocating barrels of domestic crude dai- ly to the Montreal market. Areas east of the Ottawa Valley depend for oil supplies on imports from the world market. The government said the pipeline was needed to provide a secure source of oil in case of supply interrup- tions. The pipeline ran into its first problem when the Quebec government objected to a route taking the pipeline near the water supply for the city of Montreal. When hearings resumed in October following settlement with Quebec on a new route, Interprovincial asked for further delays because of concern over future oil supplies. Threatened shortages of do- mestic oil might mean the pipeline could not operate at full capacity in the early 1980s, the company said. If the oil were not available, the only justification for the line was as a security measure and on that basis the company could not go ahead without federal financial aid. Energy Board hearings on the application to build the line will resume after the agreement with the federal government is signed. Government stands firm -no money for Olympics OTTAWA (CP) The federal government is standing firm in its refusal to pay for any deficit incurred by the Montreal Olympics, Prime Minister Trudeau said Thursday. "We won't pick up the tab of any he said when asked about the fate of the 1976 Summer Olympics, plans for which are threatened by construction labor problems and soaring costs. He told reporters following a cabinet meeting the govern- NIGHTLY LOUNGE ENTERTAINMENT SOUTHERN ALBERTA THEATRES Theatre "WHERE THE RED FERN GROWS" starring James Whitmore, Friday, Saturday, January 17, 18. Friday show at and p.m. Saturday Matinee 2 p.m. Prices: over 12 years 12 and under ment has not changed its policy, first enunciated in 1969, of limiting its direct aid to the Olympic coin and stamp program. Mr. Trudeau said Canada's international reputation "would not be done any good" if the Games are cancelled, but that remains a hypothetical situation. "I hope they won't be can- celled. We're still assuming they will go ahead." The coin and stamp pro- grams, expected to raise about million, were "very much in support of the Games and we feel they should take place." Asked whether the govern- ment would extend the coin program by minting special gold coins, Mr. Trudeau said no such request had been received. Treasury Board President Jean Chretien also was ada- mant about policy towards the Games as he emerged from the cabinet meeting. "There are no such he said when asked whether a contingency program exists to bail out the Olympics, whose projected costs have risen to more than twice the original estimate. Trudeau calls April _____ Calgary stamp OTTAWA (CP) A stamp to mark the Calgary centen- nial will be issued July 3, the post office announced Thur- sday. Originally known as Fort Brisebois, Calgary began in 1875 as a mounted police post. where the red fern grows NIKANDRE ENTERPRISES Presents 3 GREAT GROUPS TOM NORTHCOTT ORIGINAL CASTE MASTERS OF THE AIRWAVES SATURDAY, JAN. to 12 Midnight CANADA WINTER GAMES SPORTSPLEX Tickets and Advance at the Box Office, Sportsplex. Crossing completed Belgians Raoul de Boel, left, and Alphonso Oerlemans arrived in Port of Spain, Trinidad, Thurs- day. They were completing a voyage across the At- lantic aboard their 30-foot raft, "The Last Generation." The crossing began Oct. 26, 1974, in Morocco. Gold seized at Calgary will be turned over huddle OTTAWA (CP) A federal- provincial premiers conference on energy and the economy will be held in early April, Prime Minister Trudeau announced Thursday. He told reporters following a cabinet meeting that no suita.ble dates for the conference could be arranged in February or March. But all premiers were free to attend a meeting early in April. Exact dates were not an- nounced. It was planned originally to hold the meeting earlier in the year but Mr. Trudeau said commitments by the premiers made an earlier conference impossible. The last premiers' meeting was held before Finance Minister John Turner's Nov. 18 budget. The budget retain- ed controversial provisions to tax oil and natural gas revenues paid to the provinces. Mr. Trudeau said the April conference will cover both economic and energy matters. He did not elaborate on the agenda. CALGARY (CP) Income tax officials seized about million in gold Wednesday from a Calgary bank vault, but officials said Thursday the gold will be turned over to its American owners once ownership is established. The gold was purchased by U.S. citizens through a Calgary investment company and held for them in bank vaults here prior to the enact- ment of new laws in the U.S. which now allow citizens of that country to own gold. The gold was technically seized by sheriff's order in September but income tax of- ficials were barred from the vaults until Wednesday. M. J. Bradshaw, acting director of the tax investiga- tion section in Ottawa, said Thursday he has not received an accounting report on the gold but said he doubts that the gold will be retained by Canadian officials. "The problem for us at the moment is to establish that it is owned by someone he said. A spokesman for the com- pany which bought the gold for the Americans said the owners of the gold must only report to the Canadian government their ownership and provide certain documents proving ownership in order to secure release of the gold. The gold was originally seiz- ed as part of an income tax investigation of the company. A CLASSIC IN Ol'R TIME A TRUE STORY Theatre "WHERE THE RED FERN GROWS" starring James Whitmore. Friday, Saturday, January 17, 18. Friday show at and p.m. Saturday Matinee 2 p.m. Prices over 12 years 12 and under PINCHER Theatre "WHERE THE RED FERN GROWS" Friday, Saturday, January 17, 18. Friday shows at and p.m. FAMILY THIS WEEKEND at the LEGION MEN" MEN" Vlmy Lounge GORDON" MEMBERS AND INVITED GUESTS Burns Supper Tickets now on Sale, Saturday, January FANTASTIC SAVINGS DURING OUR JANUARY CLEARANCE Component Stereo AM-FM Radio 8 Track Tape Recorder Head Phones ________ Blank Cartridge 2 Speakers Deluxe BSR Changer Quadra Stereo Equipped Complete with Stand Same as the above with 8 track recorder player, 1 only. Regular 429.95. Special morse 2 ONLY Reg. 399.95 SPECIAL 29995 329 CONSOLE STEREO Built in 8 track AM-FM, PM multiple radio, diamond stylus, 6 speaker system. We could go on and on but why don't you drop in and see this beautiful machine now or- special. Reg. 549.95. Special 1242- 3rd Ave Opposite Elks 44995 FAIRFIELD'S TELEVISION APPLIANCES LTD. Phont 328-0822 Telephone workers get double time EDMONTON (CP) Under the terms of a new two year contract agreed to Thursday by representatives of about 100 clerical employees of Alberta Government Telephones, workers will receive double time for over- time effective Feb. 1. Other features in the agree- ment call for a ad- justment retroactive to Nov. 1, 1974, a 15 per cent increase on each day's wages effective Feb. 1 this year and an ad- ditional 12 per cent each day effective Feb. 1, 1976. The new agreement was revealed in a news release from the government owned telephone system. Show Times PARAMOUNT THEATRE Short Subjects: AIRPORT 75: LAST COMPLETE SHOW: ADULT ENTERTAINMENT PARAMOUNT CINEMA Short Subjects: THE DOVE: LAST COMPLETE SHOW: ADULT ENTERTAINMENT COLLEGE CINEMA Short WHERE THE RED FERN GROWS: LAST COMPLETE SHOW: FAMILY ENTERTAINMENT SATURDAY SHOW RUNS CONTINUOUS: paramount Tonite thru Tues. at and p.m. HURRY. FINAL 5 DAYS See Our Clearance Table with Savings Up To 60% OFF List Prices Included Camera Equipment and Supplies Dark Room Accessories Slide Trays, etc., etc. ANGLO STEREO PHOTO 419 5th St. S. Phone 328-6661 Closed Mondays paramount NOW SHOWING at and p.m. ADULT ENTERTAINMENT They searched the they found each other. Joseph Bottoms Deborah Baffin Tonite thru Sat. HeMOnrThniTuesby POSITIVELY LAST 5 DAYS Adults Youth Kids Anytime No Passes Continuous thowt Saturday at and p.m. Sunday 3 Showt p.m._______ ;