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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 19, 1974, Lethbridge, Alberta Potash production, increase will be steady OTTAWA (CP) Canadian potash production is likely to increase steadily in the next 10 years but there is little chance of additional mine development, says a Canadian transport commission report. The report, just released by the commission, projects an increase in potash sales to 11.9 million tons in 1980 from slightly more than five million tons in 1972. But, existing mine capacity is already greater than de- mand and is expected to last Uranium industry takes long-range view on future EDMONTON (CP) The uranium industry takes the long-range view. The short view isn't always pleasant. In 1972, Eldorado Nuclear Ltd. reported limited markets, sluggish sales and Soviet Union interested in oil meet MOSCOW (Reuter) The Soviet Union would be interested in an international conference of oil exporting and oil consuming the Soviet Union and her put the international oil industry on a stable, long- time basis, says Boris Rachkov, a Soviet oil specialist. He said in an interview to- day that the Soviet Union does not think it desirable for any one country to try to erect a wall around oil trade.. Rachkov said Moscow trade authorities favored the idea of convening a larger inter-" national conference than the one proposed by President Nixon for February. This would include the socialist states of Eastern Europe, the producer countries and oth- developing coun- join the major oil- consuming states. The idea would be to discuss a long-term plan" for oil ex- ports and imports on a stable cost basis. Rachkov said the Soviet Un- ion does not expect to increase its oil exports to the Western world. In 1972 the U.S.S.R. ex- ported 107 million tons of crude oil and oil products of which 47 million tons was sold to western and developing states. The 1973 exports were about the same. "LOANS and over Real Fast on any type of property fast courteous service no red tape Don't disturb your low interest first mortgage ritlMfM FlMMM dfMfttfM LM.. HIM m-8485 low prices. The company plunged million into the red, the poorest performance in the history of the Crown corporation. But Charles Smith, general manager of Eldorado's min- ing and exploration division sits back in his well-appointed office and displays undisguis- ed good humor at the state of the world. The energy crisis, he says, can only help the uranium in- dustry. It has nowhere to go but up. "I don't think anything is going to happen Mr. Smith says. "But we're pretty op- timistic. We predicted it was going to come in the long term." The immediate future re- mains clouded because of political considerations and shortterm economic fluc- tuations, he says, but longer- range outlooks are improving every day. For years, uranium mining in Canada was stunted by re- stricted markets and .low prices. After a period of rapid growth and prosperity initiated by the nuclear weapons race of the Cold War years, the industry fell on lean times once military demands were filled. In 1969, for example, Eldo- rado curtailed production at its Saskatchewan mines, cutting back from tons of treated ore in that year to a low of tons in 1972. Officials say exploration ac- tivity has also been lethargic for some time, partly because the Canadian government re- stricts ownership of uranium by foreign interests and partly because global prices have provided little incentive. But Mr. Smith sees in- dications major changes are on the horizon. The United States Atomic Energy Commission has recommended that the American embargo on uranium imports be lifted gradually, which could mean a substantial expansion in markets for Canadian concen- trates by 1977. The world outlook is im- proving. Spain and Japan emerged recently as big buyers of Canadian uranium concentrates. Denison mines Ltd. of Toronto contracted to supply million worth to a Japanese electric utility between 1984 and 1993. For Sale Holiday Motel Unitsl Well constructed and newly decorated. Easily removed from site and suitable for: (1) a motel on another site (2) Summer Cottages (3) Farm Labor Accommodation (4) Huttente Colony SH them it 102S Mayor Magrith Drive and your offer to ;Box 35, Herald before Feb. 1, L m By BOB OUVAL jif KEY REALTY INSURANCE REALTOR m KNOW YOUR ZONING In a nutshell, zoning laws lay out restrictions as to what kind of building may be constructed and how they can be used within certain geographic limits. A good com- imunity has zoning laws that protect its homeowners. they may also put a crimp into future remodeling plans you have in mind. For example, if the area is zoned for one-family homes, you may not be able to use a part of the house for some '.special use, such as converting an area for an apart- ment for a family member or rental or using a part of the Chouse for an office or partly for business. There may be ;height restrictions or lot-size limitations. ;.Before buying, you should Know what the zoning is, and the geographic limits of residential and business-zoned m your locality. It may affect the future value of -your property and save you from an unexpected disap- pointment if there is anything we can do to help you in the field of Veal estate, please phone or drop in at KEY REALTY .INSURANCE, 1524 9th Avenue South, Lethbridge. jPhone 328-6671. We're here to help! into the 1980's, the report said. "As a result, it is unlikely any additional Canadian potash mine capacity will be developed in the next 10 years. The Canadian potash in- dustry is based in Saskatchewan. The report was prepared by commission researcher B.M. Litvack as background for studies on transporting potash. Most Canadian potash is carried by rail, and unusual late-season demand for potash has been mentioned by railway officials as one reason for rail freight car shortages last fall. Mr. Litvack said there will be an expanding market for potassium, a major ingredient of potash, since it is an essen- tial element in fertilizer. But, it was unlikely that new major uses of potassium would be developed. MAINTAIN CONTROLS Production and price controls would likely be main- tained by the Saskatchewan government at least until the late 1970s unless the system was ruled unconstitutional by the courts. If they system is overturned by the courts, the price- cutting war of the 1960s might be resumed with United States import quotas or tariffs a possibility, Mr. Litvack said. The production and price controls were introduced in. 1970 to deal with a price war that threatened wide-scale unemployment and bankruptcy in Saskatchewan and New Mexico potash mines. The new Saskatchewan in- dustry, launched in 1962, com- peted with the older New Mex- ico mines throughout the 1960s for the big American market. Demand did not match production capacity so prices fell in Saskatchewan to a ton in 1969 from a ton in 1965. Shell oil sales show increase MONTREAL (CP) Shell Canada Ltd. reports that pre- liminary operating results for the fourth quarter of 1973 show significant volume increases both in refined product sales and crude oil in- take to distilling units com- pared with the same period in 1972. Refined product sales in- creased 17 per cent, reflecting to a large degree the action taken by the company to offset the loss of refined product imports which Canada unexpectedly had to face in the latter part of the year, the company statement said. Shell Canada and its joint venture partner, Shell Ex- plorer, plan to spend about million on new projects in 1974, an increase of more than 50 per cent over 1973 expen- ditures. About two-thirds of the money is scheduled for pro- jects related to new crude oil and gas supply. The remainder is for the expan- sion of improvement of the company's refining capacity, and marketing and dis- tribution capability. IN EDMONTON! Stay At the RIVIERA THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLOR TV Your Convenience in Making CALL AND ASK FOR LONG DISTANCE ZEnlth 0-72S5_ MnoCMttoyou IVIERA MOTOB HOTEL CCnvtoAton. Alberts Phone: (403) 434-3431 Saturday, January 1t, THE LETHBRIDOE HERALD 23 Gasoline exports to U.S. increase Power pusher Whenever power restrictions threaten to bring his department to-a halt, Ricky Marshall, 29, supervisor of the drilling department at Gross Cash Registers Ltd., Brighton, England, mounts this old bicycle to generate emergency electricity. By pedalling furiously on non-power days, Ricky is able to put one.drilling machine back into operation and save work on the assembly line from coming to a standstill. Changes may be required in executive job rewards By DENNIS TRUDEAU MONTREAL (CP) tional methods of rewarding executives with raises, promotions or both may no longer be sufficient in a socie- ty of changing individual aspirations, says a motivational psychologist. Dr. John Sawatsky, presi- dent of International Behavioural Consultants Ltd. of Toronto, says traditional performance rewards may not be adequate to get increased performance from executives or even to keep them in a firm. Dr. Sawatsky, a former pro- fessor at the University of To- ronto management studies was in Montreal this week for a seminar on ex- ecutive compensation. Another foreign investment bulge hinted in report WASHINGTON (CP) The possibility of "another bulge in foreign investment" in Canada by the late 1970s is raised in a report by the National Planning Association, a policy research organization supported by ma- jor U.S. corporations. Ernest Preeg of the State department, loaned to the NPA for the study, says in his report Thursday that while latest figures appear to "mark the twilight of the era of Canada as a fledgling in- dustrialized country and large net importer of capital" pro- jections for the next 10 years "are not at all clear and there could well be another bulge in foreign investment by mid- decade." "A reduction in the present high rate of (Canadian) unem- ployment, the anticipated growth in the labor force and the expansion of energy and other primary-product oper- ations will make large demands on available invest- ment funds." Noting that Trade Minister Alastair Gillespie had said that net capital inflows as high as billion a year are "no longer necessary or desirable, excluding special resource undertakings such as the James Bay project and the proposed gas the NPA report states: "But these two projects alone could total billion or more of new investment and, even if spread over three to five years, would constitute a billion per annum addition during the mid-1970s." "In the report says, "despite the recent tapering off of net capital inflows, Canada could experience a shortage of available domestic savings in the order of billion or more per year during the middle 1970s, or some 10 per cent of gross capital formation." In an interview, he cited changing values and the grow- ing routine of executive work as factors that may require changes in how, executives are rewarded for their perform- ance. "You can no longer validly predict that all of your execu- tives will be motivated by the same he said. BOREDOM SPREADING "The bane of employment is the routineness of it and I find that the boredom of the assembly line is creeping into the executive suite." More and more executives are questioning the worth of what they are doing and are increasingly opting for early retirement, he says. Heads of corporation and personnel managers are going to have to start rewarding their ex- ecutives with different rewards and in different ways. "It's not the same for every guy and corporate chiefs are just going to have to get close to them to find out what turns them on. "Increasingly, we're going to have to get into quality-of- life" themes with regard to ex- ecutive he said, listing travel, educational opportunities and the idea of a sabbatical leave as concepts that could re- place bonuses, raises or promotions. He related, the case of an executive who more than anything wanted a yacht and was willing to work to improve performance to get it. The executive's boss found out and when performance improved, the man got his yacht. OTTAWA (CP) Gasoline exports to the United States rose to 140.1 million gallons in the first 10 months of 1973, a tenfold increase over the same period in 1972, Statistics Canada reports.' Shipments of fuel oils to the U.S. increased by 30 per cent to 1.203.9 billion gallons. And exports of crude oil rose to 352.2 million barrels from 280.5 million barrels in 1972. In dollar terms, exports of all energy com- coal, natural gas, other petroleum products and electricity- jumped 41 per cent to billion from billion in 1972. Although the figures reflect growing demand for energy imports in the U.S., they apply to the period before the Arabs imposed their embargo in Oc- tober. Crude oil exports, valued at billion, accounted for 60 per cent of energy exports, and an increase of 44 per cent in value from million in the first 10 months of 1972. Crude oil has been under National Energy Board export controls since March 1. Natural gas exports, which are generally under long-term sales contracts, increased only 12.5 per cent in value to million. IMPORTS UP In the same period, Canada imported 274.6 million barrels of crude, valued at million, mostly from Venezuela and the Middle East. The total for the period was 239.5 million in 1972, 29 per cent lower. Most other energy imports were nearly unchanged. Coal and coke imports declined slightly to million from million. Fuel imports were up fractionally at million. Crude oil imports accounted for nearly 75 per cent of all energy imports. While the value of crude im- ports rose 29 per cent, the vol- ume rose only half per cent from 240 million bar- rels. Ownership transfer proposed TOKYO (Reuter) A group of Japanese scholars, labor leaders and intellectuals proposed today a five-point charter to transfer private Japanese investment overseas to local ownership over the next 20 years. The proposal by the Modern Comprehensive Research Group pointed out that private Japanese overseas investment almost tripled during the fiscal year ending March 1973 over the previous year. The group took into account increasing fear in developing South- east Japan's eco- nomic domination. The five-point proposal passed on to government and business circles in Japan is- 1. To promote friendly over- seas ties on the basis of Japan's declared intention to observe its pacifist con- stitution 2. To support the wishes of developing nations to be eco- nomically independent and to respect their sovereignty over their resources. 3. To establish a private in- vestment charter, setting a minimum 51 per cent for local ownership in overseas joint ventures that include Japanese capital, and to provide for the steady transfer of Japanese ownership to local interests over 20 years. 4. To apply international la- bor standards in Japanese ventures abroad in human rights, wages and working conditions. 5 To report regularly to the parliament on the outflow of funds for economic co-oper- ation. The group also said Japan should press other countries to establish an international investment charter to regulate the activities of multi-national corporations. The rest of the cost increase reflected price increases from an average a barrel in January, 1972, to in Octo- ber, 1972, and last Octo- ber. Just under two-thirds of crude imports were landed in Quebec, 23 per cent in Nova Scotia and 12 per cent in New Brunswick. Bridge firm plans steel joist centre WINNIPEG (CP) Domi- nion Bridge Co. Ltd. has begun construction of a steel joist production centre here to allow the company to expand its markets in Ontario, Alberta and British Columbia. Keith Ebbern, the com- pany's general manager in Winnipeg, said construction is to be completed in June and production of joists will begin in the fall. Mr. Ebbern said a major reason for the expansion program is to improve deliveries of joists and to prepare for the expected increase in the use of steel rather than wood joists in home construction. H. H. Smith Ltd. Customs Broker K3-IOSO LlMbrilgi PIMM 328-8141 COUTTS (04 424 SKI Offict Phont 344-3822 Sales Appointment MR. BILL HENINGER Mr R D Low, Manager, Cardstor Motors Ltd is pleased to an- nounce the appointment of Mr Bill Hentnger as a sales re- presentative. Well known over a wide area of Southern Alberta Bill brings a wealth of sales experience with. him. He will join Ed Leavitt m sales Park Strate becomes General Sales Manager These changes and additions are a result of our determination to progressively bring you, our motoring friends, constantly im- proved service The Management and Staff wish to take this opportunity to express our gratitude for the privilege of serving you and wish you all the best for 1974 SO Years Serving With Ford PhOM 653-4444 lor Ford Registered Retirement Savings Plan 'B' Now at HIGH INTEREST 9y8% TAX SAVINGS No Administration Charges PLAN "A" SELF ADMINISTERED NOMINAL FEES fri! FARMERS MERCHANTS TRUST 309 7th St. S., Lethbrldge Phone 328-5548 Please send me information on Plan 'A' D Plan 'B1 D NAME ADDRESS CITY MEMBER CANADA DEPOSIT INSURANCE CORPORA ION For Complete Livestock Sales and Service. call FRENCH Mondij P.M. j Top Quality Hogt Mm WEDNESDAY a.m. FAT and FEEDER CATTLE REGULAR SALE FRIDAY -10 a.m. CATTLE SALES Friday 1 p.m. Special Stock SLAUGHTER HOQS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SELL FAT AND FEEDER LAMBS DAILY. WE CARRY HARTFORO INSURANCE OH AIL LIVESTOCK.___________ wl IMRfHM VTVfll, I EDFKNCH 3Z8-29N MNKLASSEN........... 3454351 KEN MUEII. MlfrMt 7M-MO? Itt-TJM CONSIGN ALL OUR LIVESTOCK TO: C. E. FRENCH LIVESTOCK In me Heart of Canada s Ranching Country M7-9101 327-MM ANnrU P.O. SOX S.S. 1-7-7, LETHMID4M, ALKftTA ;