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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 16, 1972, Lethbridge, Alberta 14 THE CHINOOK The Lelhbridge Herald, Thursday, March 16 1972 Canadians, to have stronger voice at Kaiser The .severe financial troubles of Kaiser Resources Ltd. will be sorted out on Canadian soil, and with a stronger Canadian voice. This development follows on the heels of a study which sharply criticized share trans- actions by a number of senior executives of the parent corpor- ation Kaiser Steel Corp of Oak- land, Calif. Edgar F, Kniscr, chairman of Kaiser Steel announced in Oak- land last week that Kaiser He- sources will consolidate its top management and administra- tion in Vancouver. He said that more Canadians will be invited to join the firm's hoard, and that there may be some changes in the firm's manage- ment. It had previously been an- nounced that certain senior A merican n t ivcs of th e Kaisei' companies had agreed voluntarily to give up profits they had made in Kaiser Re- sources shares through a Cana- dian company, K R Ij invest- ments KKL was formed in to pL'nnit ttic executives to participate in a subsequent ruih- lie offering of Kaiser Resources .shares, which had been res- tricted from sale to U.S. resi- dents. Tlie existence of KHL was disclosed in newspaper articles in January, at which lime none of the executives liad filed insider trading statements with the relevant provincial authori- ties. Of the JIG original KRL share- holders, 18 wore considered to be Kaiser insiders. They subse- quently filed the required infor- mation. Tlw securities commUsioiiLS of Ontario and British Colum- bia have undertook investiga- tions into the transactions. Kaiser Resources also ap- pointed a special committee of its own hoard, consisting of three Canadian directors Ivead-ed by the vice-chairman. Mr. Gra- ham R. Dawson. The committee recommended that the insiders who sold Kai- ser Resoiu'ces shares t lirongSi KRIi should pay into tlie com- pany's treasury any profits re- nlized from t he-sales. NOT ILl.KdAI, The committee's report claimed that the participants in KRL had done nothing ille- gal, but tlinl their trniis actions had involved unacceptable busi- ness conduct. The rport showed tluit Kaiser Resources' chairman, ,Fnck L, Ashby, wlm Ls also vice-presi- dent of Kaiser Sfecl, luid made .substantial profits by selling Rapeseed, 'yes SASKATOON (CP) Lang has urged Canadian rape- seed producers to aim for al- most double current export markets, warning at the same time that future market expmi- sion wilt have to occur abroad. Promising rapeseed "appro priatc priority" in government agricultural ami international trade policies, tlio minister in charge nf the wheat board told Uw Hiipesecd Association of Canada larger markets must found overseas if the as- sumed crop level of TOO million bushels within 10 to 15 ycar.s, 10 VKU f'KNT FOIl CANADA M r. I -n rvg es t imat cd t o( ;i I world nil requirei tents could rise by tfl tuiHion Eons dumtf the next 10 years, and that Canada, as tlw fore moat ex- porLcr of could earn 10 pen1 cent of that expansion. Ho also predicted Canadian rapeseed would become more competitive with other major oilseed crops such as peanuts, soybeans, and palm oil, tlie re- sult of "relatively low produc- tion costs and excellence in pro- cessing. Government and association policy should strive for the uniform seed for all markets, increased expertise in process- ing, improved acceptance of rapeseeil products, and en- larged markets he said. and rapeseed no (CEM This i.-; not the year for prairie farmers to plant Inushels of rapesofd, Ciary Bosley, com- modity specialist for Men-ill, Lynch, lEuyal Securities Ltd. of Winnipeg, He told an Agricultural Out- took Conference that there are more competitors in the world and larger supplies in most oilseeds arc available this ycLir compared with last year's supplies, Although a recent Canadian rape.sct'd trade mission found foreign crashers were interest- ed in low-erucic-aciU varieties, there still i.s a long way to go before orders will be received, Mr. Bosley said. In addiliort to the increased compc t i f ion f rorn other worl A suppliers, prairie fanners also must face the fact that low- erucic-ncirl rapaseecl varieties contain about onc-half-iMMinrl IcoS oi! to a bushel than regular Mr. TJiKh'y said it is hrrdftr this to market Ilic rrmtlar varieties ;iiul it will be evf-n more difficult to .-oil a n con- tent. ItouTvi-r. lie tU-.-rcribc-fl the outifwk for 11 to; as "guardedly gowl." Tire glul of ElaxsecKl that has been seen on the world market in recent years should he over, he said. The United Ktiiles fore- caste indicate a 20-pcr-ceiil drop in flax acreage thLs year from and stocks in slort: have been dropping slowly. As well, Argentina is expect- ing a drop in it-s produrlion and Canadian carry- over of should sntidlcr Uian it hns iieen for some tinn.v He said oxporls have been encouraging. UK: Canadian subsidiary's shares through KRl, soon after a March 1070 director's meeting at which cost over-runs were conformed, and before lliis had been publicly disclosed. The shares subsequently pkaumct- ed. Eight olhcr directors of Kai- ser Resources and four com- pany officers, all P.S. residents, were included among the IB in- siders. Nine insiders made pro t its, five retained their holdings and four including the current and former presidents of the Ca nadi a n firm sus t a tncd losses, Financial Post POTATO PLUMING OPERATION Workmen at the Vauxliall Foods Ltd. potato pro- cessing plant rake raw potatoes inlo a water-filled flume fn o storage room for movement to ihe processing plant. The potatoes receive an initial washing during the trip from Ihe storage room fo ihe processing plant. The plant was recently awarded a contract to supply 1 million pounds of granulated potatoes for the India and Bangladesh area, as port of tho Canadian government com mil men t lo the United Nations World Food Organization program. appro service Canada rleparl.ment of agri- culture has just tvrmouneod a new program to .serve pro- ducors called Hcef Carcass Ap- praisal Service. Its purpose is to provide pro- ducers of feeder calves and fin- ished Co I tie with detailed car- cass information afXcr their ani- mals have been slaughtered. Under this new program indi- vidual producers would pur- chase an Cf.r tag applicator and specially designed numbered ear tugs from livestock divi- sion, Canada department of Ag- riculture. Ottawa, at a modest cost. A record of Use lug numbers and names and address of pro- ducers would kept at Ot- tawa, Once tagged an animal will carry the identifying number through v t'i r i o u s marketing stages and inlo the slaughter JIOILSP. When the animal is slaughter- ed, the tag will Ijfi removed from the ear iirnf affixed to the cart-ass by the federal meat in- spector nl the plant. Ca rcass grarie-o ut data si i c li as warm carcass weight, final- ity grade, area of rib-eye and fat measurement, will be pro- vided by federal livestock grad- ers at the plants, and relayed to the tag purchasers by I he live-stock division in Ottawa. Data frcm a program such ns this should be valuable in ing call I em on to evaluate tlu-ir breeding, feeding and manage- ment programs more effective iy. Anyone wattling more In for- m a t i o n nixl-or registration wnle Livestock Division, Can- ada Department of Agriculture, Ottawa. Rocky View MD may ban shooting 011 public property Canfarm computer service costs only per year The Municipal District of Flacky which borders Ihe city on three has intro- duced a bylaw to ban shooting from all pul )1 i c pro porty. Randier If. F, O'Hmiton said there ha.s been such indiscrimi- nate shontirg "our iives arc in jeopardy out here during hunt- ing season." in Ihe summer are so many youngsters with .22 calibre r if las that "some- times it's not salfc to venturo out of your house." Although a large number of land owners have posted signs prohibiting shooting on their p roperty t tliey are often ig- nored, he said. D. A. L e n i h a n, secretary treasurer of the municipalily, said the new bylaw will calE for fines and RCMP e n force ment. Tlie municipality of Foofhill.s. which borders Calgary on the south, introduced a similar Irylaw last year but it indefinitely alter first reading. Hi 11 Percy, presi clent of t ho Calgary Fish ami Game Assoc- iation, said the bylaw IK; a hardship to hunters and wili not solve problems which occur out.sidc the hunting season. In the Comity of Parkland west of Kdmonton a similar shooting ban was made around the town of Sfony Plain and alleviated similar problems, said secretary treasurer Otto Sh lister. Contrary to cvroueoiis reports, the fee that the Alberla de- parLment of agriculture charges farmers for providing t lie m with the Can farm computerized record keying management system is only a year. This pf-rvice is also provided by [lie Farm Credit Corpora- tion, the University of Alberta and a mnislK-r of private firms for varying fees. In addition to providing in- fontvalion that makos filing in- convj tax returns a relatively easy task, the Canfarm system provides monthly and annual rerpurLs on i n c o m e and ex- penses, cash credit situations and payrolls. Professional Icchn i c n I staff with I ha depart ment of agriculture help to get the correct informal ion to tho computer nnd lielp thorn to in- terpret the reports. Canfarm is a joint, undertak- ing by the federal and provin- cial departments of agriculture and universities across Canada, McNally FWUA elccl officers The McMnlly FWUA held their January meeting at tho of Grace Alexander with 10 ntcinlrcrs present. RolE call was Money Saving Tips used in our house hold buying. Officers eloclcd For fbo 1072 yon r five a s fol lows: pres id erst, (ir.'uic vice prtyi. di'iit, Cirant; soaretary, Anne O'Meill; Irensuror, Betty Patching; courtesy, P e pj R y Mclxxxl; the past CK- ccritive; publicity, Connie Mer- cer; and reporter. Greeno. The FWUA will cater lo Wlwat Pool mooting on Febru- ary 10 at (ho Ynies C'onlrr A donr.l' >n rf >l to llwj Rosalta HIKUC for men. Kothrvn isell an in- tej-es ting n ml i nformti t i vc tn I i; aixl demonstration K h o w i n money saving tips 1 vised on tiw C.A.C. publications. ;