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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 24, 1973, Lethbridge, Alberta American propane supply burns low By AL COLLETTI NEW YORK U.S. propane supplies are dwindl- ing and a months-old un- published United States government report says that it is questionable whether the in- dustry that now supplies more than 13 million American con- sumers will be able to do so a year from now. Platt's Oilgram News Ser- which reports daily on worldwide oil-and gas- industry discloses the existence of the prepared by the interior department last summer. Expected to be hardest hit by the impending shortage will be farm mobile home dwellers and a number of particularly in the rely upon the clean-burning derivitive of natural gas and crude oil for heating. The report pointed to a steady decline in available propane. The prepared by a group headed by L. A. fore- casts suggest that there may be enough propane to satisfy demands for the 1973-74 winter heating these forecasts are based on a set of optimistic assump- START PROGRAM The Nixon administration recently began to implement a mandatory allocation program inspired by concerns raised in the report. interior department Platt's believe interior's conclusions remain valid despite the allocation program. U.S. industry sources are concerned that next summer major refineries producing propane in the U.S. will sell their product to major in- dustry such as utilities and at higher prices than the dealers can pay for resale to non-priority users. Levels of propane may be reduced to the point where it is doubtful that the propane gas industry distribution setup can continue to operate beyond the fourth quarter of Platt's says. The government report noted at that time Canada stove business warms By BRIAN McKENNA HALfFAX never seen anything like said Aubry 42 years in the stove-selling business. had a call from a woman in Ohio looking for one the other day. I said is that Ohio in Yarmouth County or near An- She the one in the U.S.A.' The Ohio like tens of thousands of North Americans worried by the energy was after a solid-fuel something that hasn't been in demand for years. started in pot burners in about and the coal and wood burners hit rock bottom in the early Mr. Carroll recalled Friday. couldn't get rid of you can't meet the demand. I don't have one on the floor right now. If I had 50 second-hand wood burners they wouldn't last two not only ranges neither they're after Franklin and annex heaters he said. The Franklin a sort-of cast iron and the annex an all- purpose rig that burns anything from coal to garbage and will serve as a stove a are in great demand for larger homes. FEAR POWER CUTS lot of people are afraid the power is going to be shut off and they want to be While the clamor for wood burners goes the few remaining manufacturers ad- mit they can't come close to meeting demand Norman sales ad- ministrator for Enterprise Foundry Co. Ltd. in N B said orders began to out- strip production two or three years ago. That fact was underlined by an advertisement placed in a Halifax newspaper recently by a dis- tributor who claimed to have sold solid-fuel stoves in less than six weeks. can't even meet our domestic let alone send them what they want in the Mr. Stultz said. His company would probably never catch up for two major reasons. The scar- city of trained molders had created a shortage of casters for the production of the cast- iron burner boxes and tops of the solid-fuel and there is also the risk of going too heavily into coal and wood stove production when the market may evaporate at any time. SHORTAGE MAY EASE long is the oil shor- tage going to he asked. now our solid fuel production is only a small part of our both manufac- turer and retailer agreed that the boom in solid fuel stoves and heaters is creating its own energy crisis. know the big question I keep asking myself is where are they going to get the Mr. Stultz said. can't even get people to go into the woods to cut pulp Mr. Carroll said some of his customers are stockpiling wood they can get but few can find a stable supply. guy told me his garage is full and the car sits outside But for the lucky few whof can find both stove and a world of bliss apparently waits in store. wood burners don't dry out the food like gas and electric ranges Mr. Carroll said. of the best bread baked in the world is baked in wood ENGINEERED HOMES LIMITED Mr C D Wilson. Vice-President is pleased to announce the following management appointments W. SameK Calgary West Am Manager A native of Wally Samek completed his high school and business administra- tion courses in Calgary. After successfully operating his own business in Calgary for Mr. SameK joined Engineered Homes sales naff m March of 1968 and was promoted to Calgary Sales Manager in September of 1970. On September Mr. SameK was promoted to Calgary Area Manager in charge of Engineered Homes operations in northwest Calgary. A. Wlllms Calgary Sales Manager Raised and educated in Art Wlllms joined Engineered Homes Lethbridge sales staff January 1971. Since that time he has been the recipient of several Engineered Canadian Salesman of the month awards. During the first eight months of 1973 at Mr. Willms ac- cumulated a sales volume of .over On September Mr Willms was promoted to the position of Calgary Sales Manager. anticipated doubl- ing of imports in and a further 44-per-cent increase in 1974. Canadian propane exports from January to September of this year totalled about 15.90 million up almost 30 per cent over the 12.26 million barrels during the correspond- ing period of 1972. About two or three million barrels a year go to the remainder to the United States. CM cuts production DETROIT General Motors Friday cut cars most of them standard and intermediate sizes from its North American production schedules for December. GM's normal weekly production is between and cars. The. December cut is the com- pany's first major reduction in five years. GM described the reshuffl- ing of production schedules in its United States and Cana- dian assembly plants as move to balance dealer inven- tories of certain passenger cars with customer'demand in the market Farming receipts forecast TORONTO Cana- dian farm cash receipts are expected to reach about billion in but drop somewhat in says a forecast by the Canadian Farm and Industrial Equip- ment Institute. The presented to the group's annual meeting this was based on an in- stitute survey of manufac- turers. The 1973 receipts would mean an increase of about 30 per cent over the 1972 figure of billion. Of the 1973 about billion will come from livestock and nearly billion from crops increases of 25 per cent and 33 per the forecast said. Embargo halts ships OSLO A Norwegian shipping industry spokesman said today the Arab oil embargo threatens to bring a great deal of world shipping to a standstill J. a leading banker-broker said of the oil is frightening and could well lead to a standstill for a considerable part of international shipping in the foreseeable He said the situation precarious for shipping in all areas of the In of- ficials from several major oil companies said speculators are offering large quantities of high-quality crude oil at more than twice the normal price. ANNOUNCEMENT MR. DICK JOHNSON Mr. Tom Seines. Sales Manager of Astro Realty Ltd Is pleased to announce trial Mr. Dick Johnson was salesman of the month for October. Dick's contributed towards our volume of for the month of Oc- 1973. Astro Realty Is proud to have this calibre of successful represen- tatives on their and It is due to their efforts that we are fast becoming one of the most successful real estate companies In Southern Alberts. For sny of real estate needs please call Dick at 328-7748 or 327-0339 il.ni Mainly because of the bacon Dominion president Thomas Bolton chats with company lawyer Paul Lemak outside of Provincial Court in Toronto Thursday. Dominion Stores Ltd. was fined for misleading advertising. In the opinion of Provincial Judge S. Tupper it was mainly because of the meat. Especially the bacon. Rising coal prices darken Glace Bay By JEFF CARRUTHERS Special to The Herald OTTAWA Rising inter- national oil prices promise to push coal prices and produce more problems for the already-jinxed heavy water plant rebuilt by the federal government at Glace NS. J. L. president of Atomic Energy of Canada said in an interview that he understands the price of Cape Breton coal is going'up. whjch is refur- bishing the controversial Glace Bay heavy water plant for and which intends to start operating the plant in has only short- term contracts for the steam power to run the plant Mr. Gray said. The steam is produced by burning Cape Breton coal. With coal prices going the cost of producing heavy water at Glace Bay will inevitably have to go up. This in turn would make it increasingly difficult for the federal treasury to recover its renovations since profits on making heavy water would be squeezed. It-could also push up the cost of producing domestic nuclear power. And it could make it dif- if not for Nova Scotia to recover its original investment of plus on a heavy water plant which has yet to produce a single drop of heavy water. Canada desperately needs heavy water at whatever the to keep her nuclear pro- gram growing. Heavy water is used in Canadian nuclear to cool and control the nuclear reaction. It should be noted that the public ends up paying for in- creased costs for heavy water one way or the other. The country's only nuclear power CP A ir flies on with confidence VANCOUVER John president of CP said Friday the airline can move ahead with confidence to expand its services as a result of Transport Minister Jean Marchand's announce- ment of the government's new international air policy. Mr. Marchand told the Com- mons the new policy will pre- serve existing territory for the two national airlines and provide new areas. Mr. Gilmer said he hoped that action will be taken in connection with CP Air's long-standing requests for relaxation of the wasteful routing and capacity restric- tions within The transport minister said where possible the Canadian airline will be named before negotiations are opened on any new routes. Mr. Gilmer said CP Air's economic viability in South America was dependent on flying into Rio de Janeiro and Sao Paulo. WISH TO SERVE BRAZIL therefore hope for an early negotiation of a bilateral air agreement and designation of CP Air to serve he said. CP Air also called for action on negotiations for routes in Southeast Asia. have had applications before pur government for some time indicating our desire for designation of CP Air to serve Bangkok and Singapore. These points are natural extensions for the Canada-Orient route which we have operated since 1949 and they already contribute significantly to our traffic flow on that he said. The CP Air president said the new policy gives Air Canada nearly all of Africa as well as eight countries which are in areas previously allocated to CP Air. A seg- ment of north Africa is the only new area-assigned to CP Air and no territory has been taken from Air he said The eight countries Mr. Gil- mer referred to are Pakistan and China. Mr. Marchand said Air Can- ada would fly to China if per- mission for two Canadian air- lines is granted. At present CP Air has the right to operate in China. The transport minister said either or both airlines would be designated to fly to Brazil. Cominco hunts gems VANCOUVER Comincb Ltd. announced it has entered the diamond mining industry in Africa. Company chairman F. E. Burnet said Cominco holds the majority Interest in a new company formed with Dia- mond Distributors Inc. of New York to conduct diamond min- ing and exploration in .the Central African The company will mine and market diamonds of gem and industrial he said. plants are being built either by the federal government or by provincial power utilities. The'vital and scarce liquid alrady costs more-than a pound. Mr. Gray noted that the Glace Bay heavy water which has been plagued with problems since its was originally located in Cape Breton to take advantage of local which would be used to produce steam power for the plant. But no one foresaw a world energy shortage that now threatens to push the price up for all fossil coal in- cluded. In federal energy ex- perts also .didn't foresee the dramatic jumps in oil prices that have occurred in 'recent months back in the when they were evaluating a number of potential sites for Canada's fourth heavy water plant. Mr. Gray said in an inter- view that the summer federal site evaluation used oil and coal price data which are now out of date. The federal relying on that site chose Gentilly Que. as the site for the next heavy water federal sources confirmed here Thursday. But'sites in New Brunswick and British Colum- bia were not far behind. If a re-evaluation were done using more realistic price estimates for oil and coal. Gentilly would actually out Mr. Gray suggested. The only the Gentil- ly site has a nuclear power plant for supplying the steam power for the heavy water and only a nuclear power plant is relatively isolated from the escalating fossil fuel prices of late. gas stocks offer excitement By SANDRA INGALSBE TORONTO Worries over an energy shortage have taken their toll on stock markets and weakness still is to be ex- pected during the short Lawson and Co. Ltd. says. The Toronto brokerage firm is advising investors to move toward a portfolio cash posi- tion pf about 30 per cent to take advantage of future buy- ing opportunities. -Oil and natural gas storks will provide a measure of ex- citement and probably profits. Other energy stocks such as uranium and coal companies should fare well in the present Certain public utility shares should provide a cash haven with reasonable return for those who stay invested in common and special situations reflecting either ex- cessively low multiples or built-in recession resistance can be it says. Maison Placements Canada Inc. is recommending shares of Scotts Restaurants Ltd. The Montreal-based invest- ment dealer says that with ex- istihg new rising volume per unit and higher Scotts will maintain growth of more than 20 per cent for at least two more years. Adverse investor reaction to steep increases in chicken costs and higher food prices in general contributed to recent weakness on the but these threats have not it says. and food prices consumers are showing little or no inclination to drastically change their eating habits. As for chicken prices were successfully readjusted to protect current profit so only moderately lower margins will be experienced this with some recovery next Earnings for the first 28 weeks o'f the year increased 17.5 per cent from the 1972 period to 26.8 cents a share and should reach about 60 cents for the full Maison Placements says management company operating primarily in Canada and Brazil. Light Brascan's major is embarked on a major capital expenditure program to meet demand from a rapidly developing Brazilian the firm says. Brascan also holds interests in John Hudson's Bay Co.. and is expanding real estate and natural resource development. Its purchase of 96 per cent of Great Lakes Power and subsequent reorganization of Canadian assets emphasize Brascan's role as an investment management company and segregate the components of the company's Canadian Brascan reported net in- come of a share for the first six months of the up from in the cor- responding period last year. Earnings for the full year should rise to a Cochran Murray says OIL POLLUTES FIELDS DINSLAKEN. West Ger- many Thousands of gallons of heavy oil from a ruptured pipeline flooded fields and forests and flowed into a river near this Ruhr town police reported. Firemen and troops built dams on the small river of Rotbach to stop the gallons of oil from entering the River Rhine. The which supplies the starts in the North Sea port of Wilhelmshaven. Cochran Murray Toronto investment recommends shares of Brascan Ltd.. an investment IN Stay At the RIVIERA H. H. Smith Ltd. Customs Broker 321-1141 H4.424-MSI COUTTS Home Office Phone 344-3822 THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLOR TV For Your Convenience in Making Reservations CALL AND ASK FOR LONG DISTANCE ZEnith 0-7255 at no COM M you JVIERA HOTEL 5359 Calgary Trail Alberts I 434-3431 037-2510 1 and 2 YMF Term GUARANTEED SAVINGS CERTIFICATES Interest Payable Annually or Compounded to Maturity MEMBER CANADA DEPOSIT INSURANCE CORPORATION MERCHANTS TRUST 309 7th SL Lethbridge Phone Smrttiis ire Ofltrwl by Praspctis ii tin PreriMM if Mmitihi OhHrii LAKESIDE CATTLE PARTNERSHIP NO. 3 UMITEB PMTNBHMF UNKR THE LAWS OF THE PHWINGE Of Subscriptions in tatMrshlp Units at Men The Offered are securities FOR MORE INFORMATION CONTACT TOUR IROKER OR LAKESIDE CATTLE CO. LTD. Box Alberts Phono 362-3326 ;