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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 15, 1974, Lethbridge, Alberta Frktar, MUCH 15, 1W4 THi LtTHMIDOt HEMLO J7 Pulp digester Worker cleans out giant pulp digester manufactured at the Dominion Bridge plant in Burnaby, near Vancouver. The 17-by-58 foot digester has a highly polished stainless steel interior which is washed with acid solution. It will be shipped to Sitka, Alaska. Building industry faces critical labor shortage TORONTO (CP) A critical manpower shortage is developing in Canada's construction industry and it may undermine the country's economic growth targets, says the Canadian. Construction Association. In a brief-to Robert Aridras, federal minister of manpower arid immigration, the associ- ation asks the government to accelerate the immigration of skilled labor and to improve the training and mobility of the existing force. It says that job-site man- power can be increased to by 1980 from Canadian sources, but this will be to below the number needed. Failure to meet building targets may restrict Canada's over-all growth rate to less than five per cent a year, a level considered unacceptable by most economists, the brief says. Frank Camisso, president of Dominion Masonry and Stone Contractors Ltd. of Toronto, said in an interview Thursday that persons between the ages of 18 and 24 are showing no in- India purchases major part of Esso's business NEW DELHI (AP) The Indian government Thursday night acquired 74 per" cent equity in all of Esso's business interests in India as a prelude to assuming complete own- ership of the United States oil company's operations here in 1981. India's phased nationaliza- tion was made with the Bank boosts lending rate NEW YORK (AP) First National City Bank, the coun- try's second-largest commercial today it is raising its prime lending rate on big business loans from 8te to 8% per cent. The bank's decision to in- crease the minimum borrowing fee it charges its most corporate customers brings its prime into line with the rate charged by most other commercial banks in the United States. The bank, which generally acts as a leader in announcing changes in the key interest rate, says the boost takes effect Monday. It will have no immediate impact on consumer loans or mortgages. agreement "of Esso India, a subsidiary of Exxon Corp. A formal agreement culmi- nating more than a year of ne- gotiations was signed hereby representatives of the govern- ment and Esso. A government statement said that Esso would receive 180 million rupees in foreign exchange (about million) as compensation for the takeovers. The compensation is to be paid- during a seven-year pe- riod, and the statement said Esso would receive an addi- tional 60 million rupees (about million) as tax-free interest on the outstanding balance until the final payment is made in 1981. The agreement is expected to lead to similar negotiations with the two other foreign oil companies operating in India: Burmah-SheH, a subsidiary of Britain's Burmah Oil Co. and the Royal Dutch Shell groupn and Caltex Oil Refining a subsidiary of the parent U.S. firm. A Burmah-Shell spokesman said the company already has informed the Indian govern- ment of its willingness to begin negotiations on ways to achieve Indian majority participation in its local operations. There was no immediate comment from Caltex. Sensational News for Homeowners Before you PAINT read this... Our Guarantttd PROT1CTIVI COAT (1) Eliminates painting for 20 years and more. (2) Insulates Summer and Winter (3) Hides cracks and surface defects completely. (4) Waterproofs and weatherproofs completely. (5) Increases resale value of property. (6) Washes clean with garden hose. GUARANTEED IN WRITING FOR 15 YEARS AGAINST: PEELING, CHIPPING, FLAKING. For further Infoffnanoni PHONE329-0554 or fiuil ttw coupon to: NEVER PAINT AGAIN 54 HONEYSUCKLE ROAD LETHBRIDGE, ALBERTA 1 1 i i 1 i 1 re Sid'na The Herald- Business Market prices decline sharply at mid-session Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Dougherty Limited terest in learning a trade that guarantees an annual income of to a year. The only answer to the shortage of skilled labor is in immigration, he said. '75 car buyers warned EDMONTON (CP) Purchasers of 1975 model cars could run into problems getting the proper gasoline because of the new anti- pollution and energy-saving devices their cars will carry, Alberta's environment minister said Thursday. Bill Yurko, speaking outside the legislature, said these vehicles will require'very low- or non-leaded gasoline that is not available in sufficient quantity in Canada. New carburetor, ignition and muffler systems on all 1975 U.S. and most Canadian model cars could result in a 13-per-cent fuel savings, he said. But the right fuel must be available. Cominco operations shut down TRAIL, B.C. (CP) Cominco Ltd. operations here have shut down as a result of a job jurisdictional dispute among workers. The company said Wednesday it began shutdown operations late Tuesday after about 2.700 general workers, members of the United Steel workers of America, voted to support about 800 tradesmen, also steelworkers, who booked off sick in the jurisdictional dispute. Plumbers walked out first protesting that certain pipefitting jobs were being handled by riggers and welders. The remaining tradesmen then booked off. Cominco said that "an incident of work assignment has been allowed to become a large-scale illegal strike." A representative of the labor relations board met with workers and the company Tuesday, but no solution was reached- The union said it wants a pipefitter to be assigned to the disputed work, a ccmmitlee formed to establish job guidelines. no penalties lor the bookoff. The union said the company refused these demands. Plan study MONTREAL