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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 24, 1973, Lethbridge, Alberta Saturday, M'rth 1973 TH( IEIHBR1DCE HERAIP 23 Canada has M. international deficit OTTAWA (CP) The coun- try had a deficit of 5584 million In its international balance of payments for 1972, Statistics Canada reported Friday. The figure marked a sharp turn-around from 1971 when a surplus, of ?400 million was achieved. Almost the entire change re- sulted from a decline of more than million in the mer- chandise Canada sells abroad. Total for these exports at year- B.C. Railway may build own boxcars end was billion. Buoyant economic activity at home, particularly late in the year, spurred fho now of im- ports which, on the entire year, rose 60 per cent ports, the statistics bureau said. "A relatively low rate of growth in exports to overseas countries probably reflected a slower pickup in economic growth in many of these coun-1 tries than in Canada, particu- larly in the early part of Ihe year." The first and third quarters of 1972 were hardest on the pay- ments balance. There was some evidence of a turn-around in the final three months of the year. SHOWED DEFICIT For the final quarter, the bal- ance showed a deficit of only million, down Jrora J209 mil. lion in the previous three months. The surplus on mer- chandise trade in the final quar- ter jumped to million from million in the prior three months. This increase of 14.4 per cent to a total of billion out- stripped the increase in im- ports, up 8.4 per cent. There were significant in- creases in of automotive products, lumber, nickel, wheat, crude petroleum, iron ore and copper. At the same time Canada bought more abroad, mainly from the U.S. Imports of au tomotive products, machinery communication equipment and fabricated steel all ran higher. Bond prices Oil and gas men told sales to politics VICTORIA (CP) The Brit- ish Columbia Railway is study- ing the possibility of building its own boxcars in the province, Premier Dave Barret said this week. The premier made the state- ment during a question pSriod when queried by Alex Fraser as to whether he, as BCR president, was doing anything "to correct the wors- ening boxcar shortage Mr. Barrett said he would bc meeting "later this week" with representatives of Canadian iin'J U.S. railways to tfscuss the shortage which he said has reached cars per day in north America. The premier then said he has asked for an immediate report from BCR vice-president Joe Broaduent as to the possibility of beginning "our own construc- tion of boxcars." ALCAN PIPE ANNOUNCEMENT cities best for tax cheats' Supplied by Doherty McCuaig Limited OVIRNMINT OF IOHDS Vi% Sept. 1, "W Matured te% Oct. 1, '75 98.25 99.25 July 1, '78 105.50 105.50 Sept. 1, '83 80.2S 81.25 Perp. 3 Sept. 18 40.00 52.00 6V4% April 1, '75101.00 102.00 7V4% July 1, '75 102.25 103.25 1, '92 82.00 84.00 PROVINCIAL GOVERNMENT OF CAM GUARANTIED BONDS M Nickel '90 106.00 106.00 N and C G 9V4T. '91 107.00 109.00 St of Cdn '90 106.00 108.00 Tt Cdn P 9W6 '90 110.00 Tr Cdn P 10% '90 110.00 112.00 CONVERTIBLES Alta G T 7V4% '90 1W.OO 169.00 Cons Gas 614% '89 89.00 91.00 Dynasty 7 '82 100.00 '05.00 Acklands '88 100.00 108.00 Scur Bain 7Vi% '88 91.00 WC Tr C '88 85.00 88.00 WC Trans '91110.00 112.00 I CALGARY (CP) Canadian oil and gas industries could ex- rd their international trade adopting their sales ap- proach to the business and poli- tical climate of potential pur- message to chasing nations. That was the about 195 business firms attend- ing a seminar sponsored by the federal department in- dustry, trade and commerce which ended Friday. Canadian officials based in Moscow and Peking, for ex- ample, stressed that patience is a prime ingredient in sales negotiations with Russia and Chisa. R. F. Andrigo, a commercial >e interested in foriegn petro- eum technology. Products of interest to the Chinese couW include drilling -igs, pipelaying equipment, au- tomatic oilfield control equip- ment, seismic processing equip; ment, large off-highway vehi- cles and eventually offshore drilling equipment. He said the fact Canada was TORONTO (CP) Canadians cheating on their income taxes have a greater chance of suc- cess if they live in a large ur- dban area, says a tax consultant Thomas Ferguson, in an ar- ticle in Canadian Business, says the imbalance of staffing of dis- trict tax offices results in "un- balanced assessing." Due to the large volume of re- rns, Toronto offices "never ork on files which are no arked must audit" offices, for ex mple, can and do work on most returns. "The result: The same busi ess, reporting the same in ome with the same deductions vould probably be audited i Jharloltqtown ami-would almost never be audited in Toronto. 'A businessman reporting income in Toronto after charging worth of im- >roper expenses will .almost lever be caught. His counter- part in Charlottetown hasn't a chance of getting away with it." Mr. Ferguson says other dis- trict offices may be worse than Toronto's. Fines for convictions of tax offences also vary across the country- Mr. Ferguson says a person convicted in British Columbia would be fined about 22 per cent of the tax dodged while in Ontario the fine would be about 90 per cent. Alberta Ontario OntHyd New Br Nfld N. S. Quebec Alberta Mm Hyd 8 Sask 8} Nfld 9 ACT 8 Man Tel 8 8 614% secretary at the Canadian em the first western nation to ex- tend diplomatic recognition to China might offer some small edge in trade with that coun- try. But, he said, the Chinese are pragmalisls in trade whose prime consideration in any deal is the quality o! the prod- uct and financing arrange- ments. Pulp firm hikes price VANCOUVER (CP Mac- Millan Bloedel Ltd. yesterday announced it is raising its price secretary at. me bassy in Peking, said indica- for pulp, effective April 1. lions are that the Chinese willl The price of bleached kraft will be increased a ton from to while an increase of a ton will be applied to unbleached kraft, raising Die price from to a ton. '90 106.00 108.00 '88 92.00 94.00 '94 108.00 110.00 '90 108.00 I'O.OO '74 101.00 103.00 '92 83.00 '74 100.00 102.00 '90 107.00 109.00 '91 98.00 100.00 '90 106.00 108.00 '90 107.00 109.00 '74 103.00 '74 101.00 103.00 INDUSTRIALS Alta G T Alcan C. For .C. Tel Bell Tel Bell Tel P Ltd Cp Sec Cdn Util OWNG Gulf Oil nter P P Massey 934% Noraoda Canadian stock dips in bad one-week slide By PETER LEICIIN1TX Canadian Press Staff Writer Canadian slock markets reg- istered their worst one-week slide of the year this week, a decline which left many jssues GORDON K.CLEMENT Gordon K. Clement has bee elected president of Alcan Pi Limited, the Vernon, B.C. man of irrigation tubing. Ha succeeds Creighlon Cross, who was recently appointed vice president of Alcan Canada Prod- ucls Limited. Alcan Pipe's parent company. Mr. Clement brings to his new posilion over 25 years experience in the aluminum industry. He has held senior posi- tions with Alcan In both tha smelting and fabricating fields, including that of ganera! manager of the Extrusion Division of Alcan Canada Products Limited. He will reside In Vernon, H. H. Smith Ltd. Customs Broker Egg prices EDMONTON (CP) Weekly egg -and poultry report issued by the federal agriculture de- partment: Eggs: To producers: A large 53; A medium 50; A small 33; B 33; C 10; cracks 18. To retailers: A large C5 A medium 62; A small 45. To consumers (in '90 106.00 103.00 A large 71 to 73; A medium 68 '91 107.00 109.00 to 69; A small 52 to 55. '92 107.00 109.00 Poultry: '90 106.00 108.00 To producers: Uve No. 1 '79 107.50 chicken Broilers, 6 and '93 109.00 111.00 over, 29; 5 and under 6, '89 102.50 104.50 fowl Under 4, 5 to 7; turkey '90 107.00 109.00 12, 33; 12 to 18, '91 107.00 109.00 over 18, 29V4. '90 107.00 109.00 Live No. 2 chicken Broil- '90 103.00 105.00 ers, 23tt; 6 and over, 25; 5 and 107.00 109.00 under 6, 23V4; turkey under '80 106.00 108.00 12, 30; 12 to 18, over 18, '90 106.00 108.00 ____ BUYING OR SEIUNG CALL FRENCH MONDAY p.m. SPECIAL Feeder Hog] and Baby Calf Sales Wednesday) a.m. FAT and FEEDER CATTLE SALES SLAUGHTER HOGS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SEIL FAT AND HtOER LAMBS DAILY FRIDAY a.m. and FEEDER Cattle Sales p.m. STOCK CALF AND FEEDERS EXPORTERS OF SLAUGHTER HOGS EXCELLENT FACILITIES FOR FEEDING AND LOADING HOGS. tD FRENCH 3Z8-3986 DAN KIASSEN ........345-4358 KEN MIILER, MAGRATH 75M607 LOU DEJAGER WHIT HENINGER...... 348-7354 CONSIGN ALL YOUR LIVESTOCK TO: C. E. FRENCH LIVESTOCK "In Tho Heart of Canada's Ranching Country" th- Office 377-0101 327-3966 Alberta Slockyardl P.O. BOX S.S.1-7-7, LETHBRIDGE, ALBERTA Home Office Ph. 344-3822 trading al lows for the year. Trading also eased as man investors withdrew to the side lines waiting for an upwar trend to develop. Analysis said a prime interest rate increase by several banks in the United States was largely responsible for the severe de- cline. One observer said "the prime rate increase in the U.S. trig- gered speculation of a similar round of interest rale increases in Canada." Banks were hardest hit by Ihe announcement, plunging sharply lower early in the week. The industrial index of the Toronto stock market consid- ered a major indicator of rnar- ;et trends plunged 5.86 points during the week, closing Friday it 219.23, its lowest level since )ec. 22, 1972.at was the index's argest one-week decline of the year. CrOSSWOrd By "William Lulwiniik "TOO MUCH SEASONING" ACROSS EXCELLENT RETAIL SPACE STILL AVAILABLE SOUTHVIEW MALL MEDICINE HAT For: JiWEUER FABRIC STOKE PROFESSIONAL FIOWER SHOP FINANCE COMPANY BARBER SHOP BIAUTY SALON DELICATESSEN MAIL SCHEDUUO TO OPEN AUGUST 15, 1973 Direcl Inquiries lo: 1. WASYLYK DEVCO PROPERTIES LTD. E08-59JO MACIEOD TRAIL S. CALGARY, ALBERTA TELEPHONE S53-8897 1 Noisy 43 Chev; cabbage confusion twice 6 Lots of 45 Employs cillBS blarney 11 Honshu port 47 Irea 16 Hindudeity 49Diiveszway 50 features 51 Musical number 52- What a guy needs 53 Nesses 54 KO's 55 Crossovers 57 Advocate of death penalty Spent 59 Us, not them 60 Ember 61 Social affair Beef futures WINNIPEG (CP) Live bed futures close Friday. Hay _ 44.40A; Jly 43.40A; Sep 41.90A; Nov 40.55N. Thursday's volume: Four contacts. 20 This market could give you a phobia 21 Position anew 22 Word wUh sea and way 23 Inspected closely 24 Easy to take 26 Ocarina 28 Males '29 Took off 30 Kind of wave 31 Vaqucroflear 62 French sea 32 Contestant 63 Jealous 33 Sham 34 Bottle size 35 Surmount 38 Retained 33 Undergrads 40 Marianne disparagement 66 Astronomy finds 67 Actor's lines 69 Multicolored gems 70 Crabbed 71 from 73 Hardtotake 75 Plaines 78 Tureen adjuncts 79 Hinglel 8) First stripped-In illustration 82 Initials on a card S3 Map feature 84 Quiet 85 Fesllvi affairs 39 Candle center 40 OW English letter 41 Indian cat 43 Piint 44 Neighbor of Aden 45 Original gripe 47 Dill 49 Occur 50 As possible 51 Notices 52 Morass 53 Eastern name 57 Malice 61 Collection of notes 63 Unpleasant 66 Eye drop 67 Scrap 69 West Indian, rorient 70 Put to flight 71 Chits 72 Everything 77 Indian 73 Musical group 79 Taboret -BO Sailors' saint 81 Brislle 82 Mediterra- nean island capitaf 63 Neighbor of CRYPTOGRAMS soi.trrioNs OF T WEEK'S PU7ZI.M aatjuuati naati QBQQOI aan aaaa aanaa uana aaa QBDO uumuu 1 A L E F, F I, F, F, Y T H T I T F, D A D T Y E E E S DAW MITT. "FWU1" "I- U, R L E F, I" STGOTY HATT-HWOGMIR UMOOS. JLI.G! -By Alfred Jtromo 2. EUF YCCE AUYYAW DCB'O YCB OWR A.' Bail Ireland 3. WSMM CYNAFMRMOXA A O II i' AFTER MS CHAXWXMY STERN ASTER TW P H S A F M S Y. Belly Minidy Last Cryptogram! 1. Lunar Tterlry crisis: loclscrl nuto, key 2. Big Olympic symbol graces limp flag (lying (recly in gym. ;