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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 6, 1974, Lethbridge, Alberta 30 LETHBRIDGE November 6, 1974 Brazil to hike iron ore price GENEVA (AP) Brazil called today for higher prices for iron ore but warned ex- porting countries against "a policy of confrontation" with importing countries. "We are firmly convinced the objective to be pursued re- quires voluntary and effective co-operation not only among exporters but also between ex- porters and importers of iron Shigeaki Ueki, Brazil's minister of mines and energy, told a conference of 12 iron ore-exporting countries. Participants in the confer- ence, attended by developing and industrialized countries which export iron ore, have agreed they want to raise the price of the commodity, but there is no accord on how to go about it. Iron ore prices now average to a ton, and United Nations figures in- dicate they have risen 40 per cent in the last year. Venezuela and India propos- ed creation of an organization of iron ore-exporting countries to defend their com- mon interests, taking a cue from the Organization of Oil Exporting Countries, which has succeeded in quadrupling oil prices. Countries produc- ing copper and bauxite, the raw material of aluminum, also have organized themselves but have not yet agreed on whether to set a minimum price level for all members. Canada, Australia and Swe- den oppose the idea of an iron ore association Some devel- oping countries, including Brazil, favor a form of co- operation that would not clash with the interests of the im- porting countries. Ueki told the meeting current market prices are "not in line with the general trend" of prices for other raw materials, steel and manufac- tured products. He said ex- porting countries must seek "a fair relationship" between prices of the steel made from their iron ore. LORD HAILES DIES LONDON (AP) Lord Hailes, 73, former british gov- ernor-general of the West In- dies, died Tuesday. The peer, formerly Patrick Buchan- Hepburn, was works minister in 1955. but resigned two years later when Conservative Prime Minister Anthony Eden quit. He was named governor- general of the West Indies in 1957 and held the post for five years. New York silver mine Silver is mined in the strangest places New York City for instance where Honeywell photographic laboratories recover about four ounces of silver from every rolls of color film they process. With silver's price climbing from an ounce three years ago to the current the photographic industry is especially interested in develop- ing new methods of recycling this precious metal since photo companies are the world's largest consumer of silver 45 million ounces a year. The two most common recovery methods are the steel wool system and electrolytic installation. In the former, sludge containing silver particles accumulated from photo processing, is strained through cans filled with steel wool, top right. The recovered silver is then sent on to a refinery for finishing and eventual resale. In the electrolytic installa- tion method, workers utilize an electrolytic recovery cham- ber, top left, where regenerated chemicals rotate around stainless steel plates on which the silver collects. The plates are removed from the chamber and left to dry before workers chip off the hardened silver, bottom left. The dried chips, bottom right, are then sent to the refinery. CPCN TV SUPER FUCK The New Centurions The nationwide bestseller about the cops by a cop now a smash movie! "THE NEW tonights SUPER FLICK, stars oscar-winner George C. Scott and Stacy Keach. Don't miss this action-packed smash movie TONIGHT at on CFCN TV. Starring r Stacy Keach CPCN TV Channel 13 Cable 4 Grain official criticizes government inflation stand WINNIPEG (CP) A. M. Runciman, president of United Grain Growers Ltd., today criticized federal and provincial governments for failing to take a tough stand in the fight against inflation. Speaking at the UGG annual meeting here, Mr. Runciman complained of rising expen- ditures by the federal govern- ment and by governments of the three prairie provinces at a time when they should be tightening their belts. FORESEES SLOWDOWN "There seems little ques- tion that moderately tight monetary fiscal policy will lead to a slowdown in Anaconda plans to close mine BUTTE, Mont. (AP) A spokesman for Anaconda Co.'s Montana mines division said today the firm plans to shut down underground min- ing operations in Butte. Frank Monninger said Anaconda is being forced to cut back on expensive deep mines because of pressure from competitors with shallower mines. He said the firm is op- timistic about the future in Butte, a one time boom town which has lost nearly 70.000 citizens from its tax rolls in the last 60 years. Some 700 hard rock miners could be affected by the shut- down at Butte. Monninger said Anaconda will use a new system of min- ing which uses fewer miners and that underground seepage be allowed to flood lower ievels of three Butte mines. economic activity and then with considerable lag time there will be less he said. However, Mr. Runciman said as house construction declines and unemployment rises, governments face increased political pressures and a political solution to inflation becomes difficult, if not impossible. "Let us hope politicians are not willing to sacrifice the well being of voters by cater- ing to their he said. Mr. Runciman said farmers with assets such as land and materials are faring "reasonably well" during the current inflationary cycle, but they live in fear of the day when grain prices drop and farm material and supply costs remain high. BUBBLE COULD BURST "The real concern of grain farmers, of course, is that the grain price bubble could burst and tumbling prices won't cover their costs. "A weather turn around could quickly run down prices without a similar run down in prices of purchased inputs." Projections by the farmer owned co operative show ma- jor increases in the cost next spring of a variety of farm needs from fertilizer and baler twine to farm machinery and fuel. Turning to the livestock in- dustry, Mr. Runciman predicted another bad year for producers as they continue to be caught in the cost price squeeze. One soijtion, he said, may be to maTure cattle on cheap forage rather than expensive feed grains. Mr. Runciman said beef growers were deceived into thinking that increased con- sumer demand was responsi- ble for higher meat prices. The UGG president also criticized federal policies aimed at cattlemen as largely ineffective. The recently lifted embargo on cattle treated with the growth hor- mone DES and limits on cattle imports were the only policies thai helped to sustain price levels, he said. Canadians pay more for cars WASHINGTON (CP) The gap is closing, but Canadians still are paying more than Americans for their cars. The range of between 7.7 and 11.4 per shown in the eighth annual report of the president of the United States to Congress on the operation of the Automotive Products Trade Act. Congress did not get the message are off on election recess and the bulky report is in the hands of the Senate finance committee to be printed following the Tuesday balloting. The report states: "Factory list prices in Can- ada ranged from 7.7 to 11.4 per cent higher than in the U.S. at the introduction of the 1974 models. The 1974 model year price differences were some- what less than those for the 1973 models which ranged from 9.2 to 15 per cent and consirierabiy less than the 1965 price which were from !8.6 to 41.8 per cent." WITH SQJ KAMISH fish restore mercy Capped ny doc o! (or eels Tofcvf rh iorc. lhal thr ;