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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 17, 1973, Lethbridge, Alberta Lang derails stock car control plan By VICTOR MACKIE Herald Ottawa Bareaa OTTAWA A call for the appointment of a freight controller to apportion railway rolling stock fairly among the grain fruit lumbermen and manufacturers in Canada were voiced in the commons Thursday as complaints mount over toe supply of grain cars. Assurances were .given the bouse by Otto minister in charge of the Wheat that the railways were work- ing hard at trying to meet all the demands from across the He rejected the call for a controller. John former prime was not satis- fied with the assurances from the He was concern- ed over the freight car situation. He accused the railways of apparent disregard by the companies of the reasonable demands of western farmers that a fair supply of freight Railway plight blamed on crop VANCOUVER A bumper crop of apples is to blame for the plight of the Okanagan fruit grower not the railways' inability to move the .crop to Eastern says a spokesman for CP Rail. In a telegram to Transport Minister Jean the B.C. Fruit Growers Associa- Oil tankers prepared for East VANCOUVER Trans Mountain Pipe Line Co. Ltd. reported this week it is preparing to supply oil to tankers for ocean shipment to Eastern Canada via the Panama Canal. Kenneth vice- president in charge of for the pipeline said he expects there will be a tanker in the port of Vancouver within a week to 10 days to take on oil for the east. He said Trans Mountain has started to move an increased volume of oil from Alberta to its tank farm in adjoining Bur- naby municipality after a number of refining companies in Eastern Canada such as Gulf Golden Eagle and Shell made about lining up ocean-going tankers. tion and B.C. Tree Fruits said the industry was in a crisis i condition because the railways could not supply enough boxcars. But Bob Ferguson said CPR's current car supply to the fruit industry was ade- quate to meet the regular amount of traffic the growers commit to the railway. to a lew years ago the fruit industry has committed decreasing amounts of traffic to railways with an increasing proportion going by said Mr. Ferguson. have commitments to other shippers in the beef and frozen food industries who have agreements to give railways a major share of their traffic. that sort of commit- ment we have to give those customers first Mr. Ferguson said because of the bumper crop in the Okanagan have a peak situa- tion which is difficult for us to meet. are now mainly a standby carrier in the fruit he added. CN spokesman Al Menard said there was a shortage of boxcars for all industries. He said CN had a backlog partly due to the cumulative effect of the recent rail and -the number of refrigerated cars that have to be assigned to the import market. PLEASE MAIL THIS COUPON KINstakes P.O. BOX 1973 ALBERTA Please send me the following number of Q 1 ticket D 2 tickets G 4 tickets tH 10 tickets NAME ADDRESS PH. LH OR THIS ONE KINstakes. P.O. BOX 1973 ALBERTA Please send me the following number of D 1 ticket Q 2 tickets D 4 tickets Q 10 tickets NAME ADDRESS PH. LH OR BOTH Support Foundation for Cyitk Flbrotte Rmareh in H well tocil In Communities. Tickets from Kinsmen outlets cars be made available to Mr. Diefenbaker charged that the farmers were denied a reasonable supply of roiling stock because the railways were concentrating on the kind of freight that paid them higher and faster returns. in mind the serious situation which is developing in consequence of the way in which the railway companies are treating re- quests for cars with super- cilious will the minister consider bringing in legislation immediately to provide that a freight controller should have man- datory power to direct railway companies to supply what in his after con- sideration by the Wheat is the necessary number of cars. Only in that way will the present situation on the prairies be said Mr. Diefenbaker. Mr. Lang said the govern- ment has held discussions with the railroads so that it could be satisfied that everything is being done to move the maximum amount of grain. He said the government is not considering the appoint- ment of a controller. The prairie minister pointed out that other members in the commons were worried about an adequate supply of railway rolling stock to move lumber to move potash and other types of freight. assure the members that the railways are not acting in a supercilious way but in an attempt to move the max- imum amount of traffic. not as much grain is moving to Thunder Bay as we would the amount or storage there has been gradually creeping while the volume on hand in Van- couver has risen from very low levels to some 10 million bushels. That does indicate some progress is being said Mr. Lang. Mr. Diefenbaker said the minister was apparently ex- pressing satisfac- with the way the railway companies are acting. The former prime minister was confident that the prairie minister was not representing the view of western Canada in taking 'this attitude. He appealed to the minister to consider appointing a freight controller. He said such a controller should be named as soon as possible to ensure a fair deal for western agriculture. Mr. Lang again said he would not be appointing such a controller. He said that if there was any indication the railways were not being fair as between in particular they were not being fair with respect to would urge such steps be taken. However as long as it involved taking boxcars away from the movement of fruit and lumber there would be no net advan- tage. Securities agreement reached TORONTO The Canadian securities industry announced it has reached general agreement on the role foreign-controlled securities firms should play in Canada. The an apparent compromise of conflicting views of the Ontario and Quebec'segments of the says only Canadian- owned firms should have the right to carry on a full range of securities activities. Foreign firms would be limited in their activity. A joint statement from the Investment Dealers Associa- tion of Canada and the Toron- Montreal' and Vancouver stock exchanges said the Canadian securities industry be substantially Cana- dian so that there will be in Canada a strong securities community which is respon- sive to the needs of each part of KINSMEN PROJECTS THROUGHOUT ALBERTA 1st PRIZE 2nd PRIZE 3rd PRIZE IS EARLY BIRD DRAWS EACH Early Bird Draws November 1973 December 1973 and January 1974 FINAL DRAW MARCH 1974 Conducted by Anoc. of Kinsmen Clubs Alberto H. H. Smith Ltd. Customs Broktr NMHMSI Home Office LffTHtMUDOl MIRALO-lt Manhattan Bank bonds missing NEW YORK TTw Chase Manhattan third largest bank in the United has confirmed reports circulating here that more than million worth of negotiable U.S. government treasury securities are miss- ing from its vault. A spokesman for the bank said a recent audit uncovered the fact tiult more than million of bonds belonging to customers are missing. Canada hooked up Minister of Gerard pays close attention as Doug Delany shows him the major routing system on Trans-Canada Telephone's new service co-ordination centre on Ottawa.'Mr. chairman of the system's plant is pointing to an automated master display panel which shows telecomminicatiorrs routes using color-coded lights to mark each route. Uranium investments attract speculators TORONTO Shares of uranium producers have fluctuated widely and may continue to do but they represent an interesting long- term speculation for risk-ori- ented Canadian Business Service says. The industry has gone through some cyclical swings since uranium was first dis- covered in the early 1930s in the Northwest Territories. Practical applications were limited at but with the discovery of atomic uranium became the raw ma- terial for nuclear weapons. While demand exceeded supply immediately after the war. rapid mine production and development led to a serious over-supply by the end oi the 1950s. in the late 1960s the development of electric power plants using uranium as luel opened up commercial markets with substantial long- term potential. Production of nuclear power reactors is proceeding rapidly on a world-wide basis. De- mand lor uranium is likely to increase rapidly as a result of the apparent shortage of con- ventional energy-sources. Since Canada is estimated to hold about 20 per cent of the total world the Canadian uranium industry should be able to participate to a major degree in the grow- ing market for the metal. Canadian Business Service says the major problem hinges on the fact that ura- nium is considered a strategic and potentially dangerous ma- terial. This has attracted close government which has stifled incentive and could eventually lead to a shortage even though ura- nium is relatively abundant. Uranium prices must in- crease to provide the in- centive for it says. Canadian uranium producers have had to rely on other forms of endeavor for the major portion of they have demon- strated full awareness of the potential demand for uranium on a long-term basis and will doubtless be prepared for greater production and ex- ploration as the market Canadian Business Service IN EDMONTOI Stay At the RIVIERA THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLOR TV For Your Convenience In Making Reservations CALL AND ASK FOR LONG DISTANCE ZEnHh MMCMttoyOti RA MOTOR HOTBL 5359 Calgary Trail Hhuk All nlQfli AN ilborta 434-3431 says that the recent invitation by the Tennessee Valley Au- thority to Canadian producers to bid on a supply contract could mean the U.S. govern- ment might change its policy lorbidding imports of uranium or that preference might be given to Rio Algom which produces uranium from its wholly owned Lisbon mine near Moab. Utah. The firm says that partici- pation in either Denison Mines or Rio Algom can be acquired through holding com- More business I Page 31 Corp. and I'reston respectively. both shares of the holding company sell at sub- stantially lower prices and thereby offer better trading possibilities for the more ac- tive GUARANTEED SAVINGS CERTIFICATES Interest Payable Annually or Compounded to Maturity MEMBER CANADA DEPOSIT INSURANCE CORPORATION FARMERS MERCHANTS TRUST 30ft 7th 8L Lethbridge Photw 320-5548 AID TO AFRICANS WASHINGTON Six development credits total- ling million to help finance the fight against drought in the six countries of West Africa were announced Thurs- day by the International Development an affiliate of the World Bank. Mr. Grant T. Keith Consulting a multi-disciplined Consulting Engineering firm with head office at 766 Angus is pleased to announce the opening of a fully integrated Engineering Office in Lethbridge. Mr. L. A. a partner and vice has been appointed Alberta Manager. Water Development Industrial Engineering Municipal Water and Sewage Soils and materials testing Roads and streets Electronic Computer Service Building Design Structural Engineering Mechanical Engineering Electrical Engineering Keith Consulting Engineers Suite Holiday Mayor McGrath Lethbridge are these men speculating on your SOME of them may be. Others are trying to sell your crop at the highest price they can get. Some of them are trying to buy your crop for export or processing at a competitive price This is the of The Winnipeg Commodity Exchange. men work on behalf of themselves or their buy as low as sell as high as possible. Which makes them no better or no worse than anybody else you deal with. What makes it work is that they're in competition with each other. Which means that their bidding goes to the highest price. They don't If they they could not continue to deal here. you CMt your ballot in the rapsissd suggest you ghw tha matter plenty ol thought Altar onco you suneodei freodomx of you new get It back. When there aren't as many trade buyers as or vice the speculator may enter the market. He thinks he sees a chance to make money. Sometimes he does. Usually he doesn't. But he does add competition to the market on both sides. The Winnipeg Commodity Exchange's Board of Governors see to it that the open market is truly an open market. Every transaction is so that you know what prices foreign and domestic buyers are paying. Is it all in the best interest of the The only way anybody can buy your crop is to pay a higher price for it than anybody else is willing to pay for it a.t a'ny particular time. And. what could be more to the farmer's interest than ;