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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 5, 1974, Lethbridge, Alberta TiMWtay, March LETHBRIOQE HERALD-23 Startling increases since world oil crisis Easy transport The Perennial Ace, car-carrying vessel which is three times length of an official National Hockey League rink, was built by Mitsui Shipbuilding and Engineering Co. Ltd., in Japan. Vessel can carry up to vehicles. Diagram shows nine decks and car ladder for easy loading and unloading. It is the sister ship of The Canada Maru. Automakers to produce bigger fuel-saving car DETROIT (AP) U.S. automakers say they are going all out to produce big cars with improved fuel economy and hope to market fuel-saving devices within the next few months But most major fuel- economy improvements are still on the drawing boards. And many of the current devices will add to the price of the autos. In the short term, the auto companies plan to offer rear axles that help save gas, smaller engines, radial tires' and fuel gauges to let owners Customer, staff thefts costing stores millions EDMONTON (CP) Shoplifting by customers and theft by staff is costing city U.S. firm increases steel price BETHLEHEM, Pa (AP) Bethlehem Steel Corp. has announced price increases ranging from five to 11 per cent on a wide variety of steel products. The increases, effective immediately, are largely on heavy construction steel. The second-largest United States steel producer said the price increases originally had been scheduled for Jan. 1 and Feb 16, but had been delayed by the federal Cost-of-Lwing Council. The council gave the U.S. steel industry permission Thursday to increase prices immediately to cover cost increases through Jan. 31, and to boost prices once a month to reflect the higher costs of scrap iron and other raw materials Bethlehem is the first of the major steel producers to take advantage of the broadened price limits. Others are expected to follow. The principal products affected in the Bethlehem announcement are structural and shaped steel, piling, plates, rails, carbon and alloy bars, reinforcing bars, wire, galvanized sheets and tin. stores about million annually, says the security manager for Hudson's Bay Co. Kenneth McCardle said studies indicate about 60 per cent of the loss comes from theft by employees. Mr. McCardle released his figures as' plans were announced for a two-week program in March Operation Stop Lift aimed at making the public aware of the consequences of shoplifting. The program will also alert the public that shoplifting and theft by employees is costing the public money. Mr. McCardle said there are few successful prosecutions for theft by employees and added "a program like this will rub off on the staff too." Pamphlets, advertisements, commercials and billboards will be used to inform citizens during the campaign. Theft of merchandise valued less than can .result in a maximum jail term of two years. Theft over carries a maximum 10-year sentence. Part of the program will be directed at students. Brochures will be distributed in schools, teachers will be asked to discuss shoplifting in classrooms and films and television programs will be shown to students. "We're hoping it will cause sufficient impact to cause kids to look twice at what they're said Dr. Dave MacDougall of the separate school board. know when they're wasting gasoline. "We had a four-hour meeting with Henry Ford n and others a few days ago where we went over how and what we are doing to get better said Ford President Lee lacocca. "We discussed radial tires, a lot of goodies and what the possibilites are for break- throughs." Chrysler and General Motors have made similar commitments and plans for coaxing more miles per gallon out of big cars, but as lacocca points out: "Many of these are longterm projects. Improvements come hard and in the short term all we can look for is a couple of miles per gallon." Ford says the fuel economy gauges, which let drivers know when they are wasting gas, are scheduled to go into production next week as an accessory for all the firm's full and intermediate size cars. American Motors says it will begin offering economy gauges this spring and GM plans to offer the gauge as an option on its Oldsmobiles in March, Pontiacs in April and Chevrolets by June. Chrysler says its gauge, called a "fuel pacer will be available on its com- pacts by March and its larger models by April. PRICES TO devices will vary in price from to for Chrysler's version to or for General Motors'. All the systems are based on measurements of what is called the vacuum pressure in the car engine's intake manifold. Ford's gauge has a needle indicating whether a driver's economy is good or poor. It also indicates when a motorist should decelerate. Burning Rectal Itch Relieved In Minutes One of the most Common af- flictions isa condition known as "Itching Piles." ll is most embarrassing for the sufferer during the dav andcsjwciallv aggravating al night if vou want satisfactoiv relief good news. A reiwnv ned research laboratory has found a unique healing subMancc with Jibe ability to promptly the burning itch and pain It actually shrinks hemorrhoids substance has been shown to a effective rale of healing Us gcrm-Miing properties also help prevent infection In one heinorrhoid case after arwvtbfr 'verv sinking irnprmcrnciu" A A reported This improv ement was main- tained m where, clinical observations were continued over a period of many months. FwrthcrTOOTC, these Icsts and observations were made on jiat ients with a wide variety of hemorrhoidal conditions All this accomplished by a healing substance (Bio- by a worid-renow ncd research in- stitution. This substance is uow obtainable or form known as H. Ask for H Supjxwilwies (convenient to carry if away from homcj or Preparation H Ointment with special ap- plicator. Available at all drug counters. Satisfaction or vour money refunded Preparation jTj I lllBIK Price gouging by big oil firm proven fO (AP) -A proven Arabs are Japan's major These startling increases hit yen; beer 140 yen a large three times the prol n r i____--_ hnttlo tn ISA won Onp rinllar than tho voar hnfnrc TOKYO (AP) A proven case of price gouging by a ma- jor Japanese oil firm has prompted many consumers here to conclude that businessmen are manipulating the world oil crisis for higher profits. Prices began to climb in Ja- pan for nearly every product after the Arab oil squeeze took effect in November The Dollar reserves increase OTTAWA (CP) Canada's official reserves grew by million U.S. during February and virtually all the increase was in holdings of U.S. dollars. The total at Feb. 28 was million. Reserve holdings of gold, foreign currencies other than U.S. dollars and the Canadian position in the International Monetary Fund remained about the same. Official reserves are calcu- lated in U.S. dollars. Reserve holdings of U.S. dollars had declined during most of last year as the value of the Canadian dollar hovered close to that of the U S However, the Canadian dollar in recent weeks has traded at more than two cents above par with the U.S dollar. The strength of the Canadian dollar is partly due to higher interest rates here and U.S. dollars have been flowing in to take advantage of those rates U S dollar holdings totalled billion at the end of Feb- ruary, compared with billion at Jan. 31 and billion at Dec. 31. Arabs are Japan's source of oil. Statistics told the story: a 30 per cent rise in wholesale prices; a 20 per cent hike in consumer prices, for 1973. On Feb. 12 the economic planning agency had more bad news: January's wholesale prices were up 35 per cent over a year before, the biggest jump since the Korean war. These startling increases hit the average Japanese where it the market basket. Some examples: sugar which was 140 yen a November jumped to 240 yen in January; bread from 120 yen a loaf to 150 yen; meat from 350 yen per 150 grams to 450 yen; toilet paper 210 yen for six rolls to 500 yen; bean curd, 30 yen a cake to 50 Pulp, paper stocks offer opportunity for investor By SANDRA INGALSBE TORONTO (CP) Pulp and paper stocks generally are selling at low price-earn- ings multiples and offer in- vestors an opportunity for capital gams, says Bongard Leslie. The price-earnings ratio is the relationship of the market price of a stock to its earn- ings per share. The pulp and paper group has an average price-earnings ratio of under 10, compared with the Toronto Stock Ex- change industrial index aver- age of 12.3. Bongard Leslie says the ra- tio will improve during the next few years as tight de- mand-supply conditions help earnings growth. The slowing of economic growth this year will merely serve to reduce shortages which have developed during the last 12 months. "The energy crisis must be viewed as favorable for the Canadian industry. The paper group is a large user of energy and foreign producer cutbacks induced by energy shortages will assist growth of pur exports. The Canadian industry is in relatively good shape with respect to energy." The industry has suffered from problems of over-supply in the past, but several fac- tors should keep supplies tight, Bongard Leslie says. These include poor industry financial conditions, lack of wood and location sites, low return on investment, and energy. Due in part to sharply re- duced cash flows and ex- penditures on environmental protection, the debt portion of capitalization has risen to lev- els from which it is virtually impossible to add further le- verage, Bongard Leslie says. Companies cannot depend upon financial markets to support financing of costly mills. Debt-equity ratios will im- prove in time, but at least un- til the end of 1974, few com- panies will have sufficient ac- cess to financial markets to over-expand production The current expansion pro- grams are largely in the form of improving production through upgrading and mod- ernizing machines already in place and should improve earnings, Bongard Leslie says. yen; beer, 140 yen a large bottle to ISO yen. One dollar equals roughly 300 yen. All this, said the Bank of Ja- pan, added up to the worst in- flation among advanced coun- tries in recent months. The consumer price average in January, for example, was four per cent over the month before compared to 0.9 per cent for West Germany, 0.7 per cent for the United States, and 0.6 per cent for France. RAISE WAS SECRET The first solid evidence of gouging turned up this month. It involved one of the biggest oil companies, Sekiyu K.K., sharply censured by the Ministry of International Trade and Industry (MITI) for secretly ordering increases in its products by about a barrel. Suddenly, Sekiyu K K. got a new president, replacing the old one who stepped down after a public apology. Said the new man: "Illegal profits, if any, will be returned to the customers." The Sekiyu case, along with suspected profiteering in other areas of the economy, have shaken the credibility of big business, long the most powerful element in Japanese society. On Jan. 10, the four main business associations pledged voluntarily to keep prices from rising. Four days later, Nissan Motors, one of the biggest automakers, an- nounced an across-the-board price hike. Sumitomo Chemical, and Mitsubishi Pet- rochemical, the latter with three times the profits in 1973 than the year before, followed suit. Prime Minister Kakuei Tan- aka recently called together Japan's leading business tycoons and told them that unless they co-operated he would have to get tough. Rapping excess corporate profits and tax evasions, he demanded thpy lower prices raised "on the pretext of the oil crisis." The 90 business leaders present promised to play ball, aware that politi- cal life threatened by runaway what he says. Following the showdown with big business, some prices began to go down Eleven drug firms have promised to cut prices on their products by from nine to 20 per cent 61 Litho laann QUALITY PRODUCTS Instant Printing _____j( U iii if you Man Forms DESIGNED AND MANUFACTURED IN LETHBRIDGE The image makers Three ligui anfl ways Jo W1I Jhe wono wnal in woman you realty are TnnHy tailored or scflly temmme m madly beauttul anfl nCh soWs Choose the coal lhal mirrors your style anfl get reafly 1or a oreal spring season Colors meluoe navy rpa camel blue anfl brown Stfcs ranoe 7 10 20 AH colors are nol available m all Styles ana Simpsons-Sears Ltd. Store Hou'S Ooer> Os 'y 9 30 'c j: r> awl Friday S 3D a 'o 9 00 o O-lre Village Wall 31 Sampsons Seats you gtfl Jhc !incs3 guarantee or itntti9j wrunoMI anfl iree delivery ;