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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 23, 1973, Lethbridge, Alberta Computer investment is speculative SANDRA INGALSBE TORONTO Most Canadian computer services have matured considerably during the last five but an investment m any of them says Chaput Inc. -The investment firm says in a recent market review that the youthful industry is com- pleting its first phase of de- velopment. Some of the im- unrealistic expectations have been modified by prac- tical experience service com- panie- now receive the need to carefully define their po- tential market and use their human and financial re- sources more effectively This mature approach had greatly enhanced their out- look for achieving continuing profitability The industry is expected to grow at an annual rate of 17 per cent until 1980 The Cana- dian government is also ex- pected to direct more of its data processing purchases to- Lucky ticket holders WINNIPEG -Women ticket holders from Winnipeg and Vancouver were drawn to- day for the Grey Cup teams and will collect either or from the Manitoba Golden Sweepstakes after the big game Sunday Barbara Wozney of 77 Lochmoor Ave was drawn for Ottawa Rough Riders and Edith Shannon of 5833 Boundary Van- got Edmonton Eskimos Both will be invited to at- tend the game in Toronto as guests of the Manitoba Lotteries a government body administer- ing the sweepstakes Additional prizes of go to the holder of the ticket on the team defeated in the conference final by the Grey Cup winner and to the finalist of the losing conference Annie Ma thews of 519 2nd Fort drew Saskatchewan Roughnders who lost to Edmonton in the while Frank Ujlaky of 773 B.C got Montreal defeated bv Ottawa ward the and entry of additional established com- panies will keep charges at relatively low levels. DEVELOPMENTS DICEY Chaput says the greatest uncertainty is in future hardware and software developments. Documents released by In- ternational Business Machines stating it would an- nounce a wholly-new future system in 1976 could mean a complete re-evaluation of the entire data processing in- it says. The rapid rate of tech- nological change makes esti- mating future earnings diffi- cult The share prices of most of the firms often move in an irrational manner But for the astute investor who appreciates prop- erly evaluated investments could provide substantial Chaput says FLEXIBILITY PAYS 'Those computer service companies whose manage- ments have been able-to con- trol costs and change direc- tion as conditions warrant and whose products and services are related to their cus- tomers needs rather than to computer processing are the ones most likely to succeed It recommends Systems Di- mensions Ltd as the prime vehicle in the field. Systems Dimensions' five- year plan calls for revenues to increase at a rate of 60 per cent and pre-tax earnings at 20 per cent Chaput says the firm will come close to meeting the objective and could become first true high technology glamor growth stock It also warns that the shares carry considerable downside risk in the event the com- pany's performance falters Make change in price of feed grains WINNIPEG Changes in the domestic sell- ing prices for Prairie feed grains were announced Mon- day by the Canadian Wheat Board and were effective im- mediately The domestic basis Thunder Bay or are No 3 Canada western red spring wheat No 1 feed barley and No 1 feed oats The price for wheat is up cents from the previous price level Barley is up cent and oats dropped 3Vg cents Wheat supplies in U.S. depleted by demand WINNIPEG For the first time in wheat supplies in the United States may be virtually depleted as a result of increased world demands. Canadian Grain of- ficials say Statistics from both the U S and Canada indicate that North American stocks could come under heavy pressure by early 1974 and even suggest the U S may not be able to meet its existing export com- mitments C W. com- missioner of the Canadian Wheat says U S wheat stocks probably will be by the end of March if export clearances continue at their present rate know that the United by their own figures is already fully if not over on wheat exports this he said in a recent speech. While Wheat Board officials have not said flatly that the U S has more export com- mitments than it can meet this a spokesman for the board suggests that a predic- tion of this nature is possible on the basis of figures from the U S Department of Agriculture The department reported total wheat stocks of 2158 billion bushels at the beginn- ing of the crop year July 1. Subtracting domestic require- ments of roughly 800 million exports to date of more than 500 million and minimum carry over stocks of about 200 million this figure is reduced to about 660 million bushels The spokesman notes that U S export commitments still .stand at between 800 and 850 million bushels Canada is slightly but the Wheat Board has said carry over stocks of grain likely will be reduced to their lowest levels in years by the end of the current crop year G N the board's chief has warned that exports of Prairie wheat may be down 50 million bushels or more from last Vear's depending on how mucn reserve stocks are drawn down A large portion of available wheat supplies for this year have already been he says The shortages of exportable gram in North America would likely have the effect of driv- ing up prices although it is still too early to predict major increases in price Wheat prices soared to their highest levels in years last year when crop failures in several parts of the world led to a dramatic and sudden increase in demand Top grades of export wheat were selling this week at near- ly 60 a basis Thunder Bay As a result. Prairie farmers enjoyed their highest payments for wheat since the Second World and this year's estimated final payments are at an all-time record. Oh the other the Wheat Board has not increas- ed its estimates of final payments since they were lirst announced last rfonth Grain seminars and Prairie pool .meetings hate been haunted by the knowledge of how quickly the world grain situation can change and the that surpluses could again mount up quickly and Day-by-day existence Jim and his p'artmer Steve Oaten- plant in operating at almost.full capacity sbury say success m the wood remanufacturing busin- and expect gross sales will exceed the million mark ess a case of living by your wits from one day to the this next. The partners have their Allwood Industries Ltd. annual sales Lumber leftovers return profit BC Allwood Industries Ltd lives by its wits from one day to the next- That appears to be a re- markably unbusinesslike way of running a plant with more than million in annual but it's about normal for the lumber remanufactur- ing business Allwood is one of a handful of remanufactunng mills in the lower British Columbia mainland area which buy Lake Erie site for steel plant PORT Ont Steel Co of Canada Ltd an- nounced today it will start work early next year on the first stage of a new integrated steelmaking plant on the shore of Lake Erie near here. President J P Gordon said the project is the largest single development ever un- dertaken by a Canadian steelmaker and will provide 13 million tons a year of capacity at the new site by 1978 No cost estimate of the proj- ect was given The plant will be constructed on acres of Stelco property at Nanticoke The first stage covers construction of a blast fur- a two-furnace basic ox- ygen a double strand continuous casting machines for the production of and an 80-inch hot strip mill Mr Gordon told a news con- ference that the company also is proceeding with installation of a direct reduction kiln at its Griffith mine in northwestern Ontario which will supply pre- reduced iron as a substitute for scrap ta plants at and Ed- monton. PROTECT ENVIRONMENT He said the company is do- ing everything possible to protect the environment at the Nanticoke development have included in our design agd in our layouts the latest in equipment and in concept for the protection of the environment have attempted as well to provide ample protection for the natural surroundings of the area not only in the layout of the plant itself and innovative use of landscaping techniques but also in our approach to the future development of the industrial park on the northernmost 000 acres of the properly He said there are obvious advantages in having steel mill suppliers and users close to their source supply impor- tance is that.establishment of such a facility will enable us to contribute to the develop- ment of the entire area by providing a means whereby secondary and service in- dustries can locate m an orderly fashion Large gas field found in Montana CALGARY Two Calgary based companies have reported a large natural gas find Montana and said all gas pioduced from- the field near Rapelje has been contracted to Montana Dakota Utilities Co Concept Resources Ltd and West Gas Inc said the poten- tial of the field is estimated at 302 billion cubic with a proven recoverable reserve of 69 7 billion cubic feet. A spokesman for Concept which owns 70- per-cent and is the operating member of the joint said Montana Dakota Utilities is planning an eight inch pipeline to connect the Rapelje field with its mam line at Laurel First deliveries of the gas are scheduled for 1974 Montana Dakota Utilities has contracted the gas at-an initial well-head price of 40 cents per thousand cubic with provisions for an annual increase of one cent per thou- sand cubic feet lumber leftovers from the large forest companies and turn them into marketable products have to spend each day scratching around for tomor- row's says Jim who founded the com- pany m 1965 in partnership with Steve Gatensbury 'The trouble is we can't af- ford to buy on Mr Fen- ton said in an interview in his small office beside the planer mill that employs about 40 men in this community 25 miles southeast of Vancouver we hear that one of the big mills has an odd amount of rough lumber for we have to figure out what we can remanufacture from it and then start looking for a market We don't buy it until we know we can sell it again That explains why Mr Fenton spends up to 12 hours a day on the telephone selling such articles as fence posts in one-inch siding to a lumberyard in the eastern United States and one-by-four planks to a Vancouver-based building-supply chain. At the same time he is in al- most constant touch with the sales departments of such ma- jor forest products firms as MacMillan Crown Zellerbach and Weldwood His partner spends as many hours in the plant supervising production. more of a planer plant than a Mr. Gatensbury said. He said the mill is process- ing about 1 7 million board feet of lumber a month or 85 per cent of its two-milhon-a- month capacity. Most of the lumber used is cedar AboiU 55 per cent of the plant's production is exported to the U.S with most of the re- mainder sold in B C Last year Allwood milled 111 million board feet for gross sales of about 7 million This said Mr the company ex- pects production will hit 20 million board feet with gross sales reaching million or more CAN'T TIE UP MACHINES big mills can't tie up big production machinery to make the sort of product we can explained Mr Ga- tensbury. isn't worth their while we're absolutely we can make a dollar where they would lose money Mr. and Mr. Ga- both had long ex- perience in sales and lumber grading with Crown Zellerbach and the old Powell River respec- before they struck out on their own long as we're prepared to scratch and scrounge for lumber and there'll always be a place for said Mr Fenton Gov't action to delay power prdjects sought TORONTO Delegates to the Man and Resources Conference asked Thursday lor federal action to delay Quebec's James Bay power project and the Manitoba Hydro project in- volving diversion of the Churchill River into the Nelson River The conference of 400 delegates which has been concerned with environmental adopted resolutions at its closing session urging that Affairs Minister Jean Chretien immediately appealed to the Supreme of Canada the Quebec Court ot appeals decision Thursday lifting an injunction against James Bay construc- tion. federal government intervene to hall the Churchill .River diversion or the very take to protect Ihe area's native peo- ple and ecology' The James Bay resolution was sponsored by a study group set up on behalf of In- dians during the four-day conference The Manitoba resolution said that province s project ignores social and ecological costs of- this degradation Police probe murder possibility in slaying of stock promoter. WEST VANCOUVER. B.C Police are investigating the possibility that 48-year-old stock promoter Anthony Benjamin Lay was murdered by a professional gunman Police Chief Moir MacBraync said Thursday that it appears the killer or an accomplice have Lay by luring him from his waterfront apartment before he was shot once through the heart at 9 SO p.m l.ol Lay was shot in the parking lot 'of the Seastrand Apartments as he prepared to enter his car a little too coincidental he should be going to his car at the very time someone is waiting for him. said Chief MacBrayne if 1 were to stand and wait for someone. I would like some idea of when this person would come Police said robbery did not appeal to be a motive since than 1500 in an ex- pensive watch and cuff links were found on the body Police sources said the slay- ing touched off a rash of rumors in Vancouver's finan- cial community about' who was known on the fringes of the Howe Street financial district as a dealer in securities Lav. married but separated from his was fined in provincial court in nearby Burnaby municipality last nlAaifma multu In two counts of trading in United States securities which had not been registered with the British Columbia Securities Commission. Asked whether police were investigating the possibility that Lay may have been killed because of his business dealings. Chief MacBrayne replied Perhaps this is one of the areas we are looking into at present He added We are definitely looking into everything to try to get to the bottom of but it's go- Itft TMt LITNMIOQI HUULD-t7 Energy resources in the U.S. vast despite shortage ByALCOLLETTl NEW YORK De- spite an energy shortage that may lead to fuel rationing this the United States still has vast energy resources. It has huge reserves of coal and oil shale. And there is oil in domestic wells on land and offshore and at new sites waiting to be recovered if the price is right. Major oil companies own the mineral leases to millions of acres of land in the U.S. rich in coal and waiting to be strip-mined. Synthetic oil can be produced from but the process is costly The fuel brought to a head by the Arab cutoff of oil has prompted a resurgence of exploration and has caused major oil-com- panies to take a new look at fields previously ignored. Geologists estimate that only 31 per cent of available U S oil reserves underground now is being recovered. But new drilling methods may in- crease this percentage sig- nificantly Substantial discoveries al- ready have been made. New wells were announced in No- vember in Oklahoma and Louisiana BLAME CONTROLS price controls on oil and gas set by the Cost of Liv- ing Council have so far cur- tailed what could be a major push to find new petroleum resources in the says Business Week magazine Thomas senior vice-president of the world's largest oil con- says that as of last year the U S has leased less than three per cent of its offshore acreage underdeveloped U S offshore peaked at 1 7 million barrels a day in 1971 and now is actually Barrow says. But there has been an im- provement during the last year through accelerated off- shore leasing by the U S gov- ernment The U.S. consumes about 17 million barrels of crude oil and petroleum products a day The American Petroleum In- stitute says U.S refi- neries in the first 1C months of this year processed a daily average of 125 million bar- rels of crude 3 2 million barrels of which had been im- ported. The U S. also imports some refined products. BOOST OUTPUT Refinery output was up 7.4 per cent over-all from the 1972 with distillate fuel oil production rising 6.7 per cent. API says that so far this year imports have accounted for 35.9 per cent of the daily U.S. petroleum consumption. The U.S produces enough natural gas and oil to fill a lit- tle more than GO per cent of its energy needs. Coal is used for another 20 per cent. nuclear and geothermal energy account for another five per leav- ing a gap of roughly 15 per cent to be filled through im- ports Americans are the most spendthrift people on earth energy-wise The U.S has only six per cent of the world's population but consumes 36 per cent of the world's energy. Consumption is expected to double every dozen years or so The Arab oil af- fecting two to three million barrels of oil imported to the U S each obviously will hurt the United States eco- nomically But it won't bring the country to its knees IMPEDES GROWTH Economists agree the ma- jor impact of the fuel shortage will be on growth. Coal is the big ace in the says Herman head of the Hudson which is a major U.S Kahn estimates that the US is so rich in coal that we want to produce our own oil we can mine about two to three trillion tons of which would produce about 10 trillion barrels of oil The most oil you have in the world from undiscovered oil is two to three trillion It would cost or a barrel That is what we ex- pect we are going to have to pay for oil anyway. So we don't have to buy it from abroad if we don't want to Now m oil shale we have about two trillion barrels available difficulty is that you may have to sacrifice major portions of at least four or five states strip including Colorado and Wyoming. Wyoming has unbe- lievably big coal and Colorado has both coal shale and gas reserves Foreign Direct Investment in Canada -30-------------- Billions of Dollars 1966 1967 1968 1969 1970 By Industry By Country 1970 Merchandising Financial Utilities 1 Other Mining and Smeltin Counties United Kingdom Steady increase Foreign investment in .Canada has climbed steadily from over billion in 1966 to 000 in 1970. The United States is the major investor in Canada accounting for 81 per cent in followed by the United Kingdom at 9.5 per cent Manufacturing and the Petroleum and natural gas industries greatest percentage of investments. 1974 006 LICENSES will be available at the Inspection and Development City on December 1973. Any dog Impounded after January 1974 will be subject to fines specified In Bylaw No. 3055. ;