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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 26, 1971, Lethbridge, Alberta THE LETHBRIDCE HERALD Friday. Novpmbor 26, 1971 Lethbridge stock market action slow in wake of U.S. surcharge EACH GIRL GOT A TROPHY The Lethbridge Minor Football Cheerleaders' Trophy was given, for the second reason, to the football cheerleaders from Hamilton Junior High School. Each of four groups of cheerleaders were given (or their clicerleading at each game through- out the season The girls, dressed in maroon and white, are from left to right, back row: Wendy Jacobson, man- ager; Denise Powell, Cindy Cann, Delorey Pocza, Carol Evanoff and Cindy Terry. Middle row: Kim Nelson, Yvonne Dowdell and Judy Grigor. Front row: Linda Wing- field, Lynn Ross, Sheryl Keith, captain and Shelly Klovansky. m sells out canvas operation; will expand in furniture and drapes Ducan Industries Ltd. oi Lethbridge has sold its canvas operation and is expanding its furniture and drapery manu- facturing Peter Pastoov, company president, said the equipment for the canvas operation was sold to a "Winnipeg concern." Last of the equipment was sent a week aso. The U.S. 10 per cent import surcharge "would have lost us our U.S. accounts." Mr. Pas- toor said. About 50 per cent of the firm's production was for the U.S. market. The. Winnipeg firm will be manufacturing canvas items for the Canadian market only. Its parent company will look after the U.S. market. Selling of the canvas opc-ra- tion gives Diican 15.000 square leet of needed storage and manufacturing space. Produc- tion previously stored in va-1 Ducan started business in I facturing furniture and rious city locations now will be i Lclhbridge in 1954 under the tering its third year. one roof. Mr. Pastocr name of Ducan Canvas. It pro- said vided finished canvas products employees in the can- j for the agricultural industry, vas operation'have been given i The history of the company 1s en- Last vear it started manu- By RUDY HAUfiENEDER Staff Writer Uncertainty about the pro- posed new federal tax act, the loating Canadian dollar and the U.S. import surcharge are all taking their toll on Cana- dian industry. Lethbridge stock brokers re- port stock values and total sales volume have been declin- ing steadily for almit a with increased momentum since the introduction of (lie 10 cent U.S. svrcharge. Although the U.S. imposition of the surcharge has not af- fected the Canadian economy as seriously as it was first thought it would, stockbrokers arc unanimous that it could have a "disastrous" effect if not removed soon. They predict it will result in an accelerated rale of price and sales decline which would affect lira man on the street through increasing uncir.p 1 o y- ment. However, if UK surcharge were removed within the next while, its long range effects would probably be Kood for Canada. The stock brokers say that because of the Canadian econ. omy's dependency on the U.S. anything that is good for the U.S. will result in benefits for this country. The import duly was intro- duced to help alleviate the U.S. balance of payments problem. Other U.S. economic policies were activated to curb the rate of inflation in that country. Because the U.S. is spending i more than it is earning, some I form of currency devaluation was required. By flexing its industrial mus- cle the U.S. forced other coun- tries to float their currency on an open international monetary market. This resulted in the upward currency units will now buy nore U.S. dollar units than bc- 'ore. One stockbroker said "it tvould have been politically in- expedient for the U.S. lo de- valuate its us a differ- ent approach with the same end. When the Canadian dollar was allowed lo float freely on the international monct a r y Anti-unemployed measures planned jobs in other departments, he sniil In about another month, is a success story. In 1966 it started manu- with expansion of the drapery I facturing cushions for trailers and furniture manufacturing j and mobile homes to supply lo- departments. additional worn-! cal industries. It now manu- factures cushions for the mo- bile home, travel trailer indus- en will be hired. Tne firm will employ be- tween 140 and 150 persons when the expansion is com- pleted. The company's annual payroll is S750.0CO. Besides the Lethbridge plant, Ducan has a cushion plant near London. Out. Cushion covers for travel trailers are manu- factured in Lethbridge and shipped to the Ontario plant where the foam cushions are i inserted and sold to trailer manufacturers. try across Canada. In 1969 Ducan started manu- facturing drapes for mobilejre evaluation of other cur- rencies which, because of the monetary value system used, arc based on the U.S. homes. The firm is concentrating on manufacturing for the leisure market, t h e mobile home in- i "ltn dustry, Mr. Pastoor said. Its only agricultural production will be the flexible grain tap- per manufactured by Flexa- Hoppers Ltd. and distributed across Canada. re evaluation, foreign To offset gloomy winter em- ployment forecasts, the federal government has introduced a special on the job training program to provide work for about persons. The million training pro- gram conducted by the depart- ment of manpower and immi- gration is aimed at. reducing the number of unemployed this winter, while also encouraging employers to prepare for fu- ture expansion by offering em- ployable workers new skills. The program is not related lo another job education plan the provincial government is expected to announce Monday. Under the new program the federal government will reim- burse employers providing the training, by either a direct pay- ment amounting to 75 per cent of the wages paid or through a tax incentive which would pro vide equivalent benefits through the write off of wage costs. The only employers exempt from the program are those which are primarily financed by tax revenues. CMC officials in Lethbridge emphasize that Ihe latest dead- line for the program is March 31, 1972. Employers utilizing the Can- ada Manpower program must provide training for at least a three month period and nol more than 12 long. The skills learned by a trainee must be transferable and have con- tinuing value. Before a prospective employ- er can fit into the program, he must meet the following guide- lines: must have the equipment and facilities to provide trans- ferable skills; propose training in occu- pations offering reasonable pos- sibilities of continuing employ- ment; not have an extraordinar- ily high staff turnover; have consulted with unions and have no reason to antici- pate, opposition to the program from union sources; be hiring the trainees for positions which are in addition to his normal work force at that time of the year and for the duration of the training period; be prepared lo hire the trainees as regular employees, to pay them the wage rate ap- plicable to the job and provide normal fringe benefits. No age restrictions have been imposed on the training pro- gram. CMC also provides trans- portation and technical assis- tance to prospective employers. To seek the benefits of the on- the job program an employer must submit a proposal to the CMC serving the area, while outlining a general Irainin; plan and providing training de- tails for each occupation. exchange, this country's busl- ncssrr.en saw an approximate seven per cent trading advan- :age over their U.S. counter- parts disappear. This resulted when the Cana- dian dollar reached a par value with the U.S. dollar, whereas it had previously been forced to stay at 92 li cents U.S. By adding the seven per cent currency difference lo the 10 per cent U.S. import surcharge, Canadian industrialists found themselves at an 18 per cent disadvantage compared with earlier times. Tla danger of an internalion- al trade war occurring as a re- sult of a lengthy U.S. surcharge- could result, warned a stock- broker. The lack of certainty and In- formation surrounding Ihe pro- posed new federal tax bill in Canada is also holding p-ices and buyers hack. Because buyers do not know exactly what the new corpor- ate tax structure and the capi- tal gains tax are about, they aren't eager to buy. An impending energy crisis looming in the United States is also causing concern among both buyers and industrialists, a stockbroker said. Until it is known when and where the U.S. will get the pet- roleum and water energy re- quired to operate its industry, buvers will be apprehensive about investing tlreir money. However, there are flickers of light on Ite stock exchange. "A feeling is beginning to show that some of the Cana- dian industrials listed" on the stock exchange "are offering attractive opportunities" pro- fits to investors from Canadian- owned and controlled compa- nies. Also, said a broker, there is a growing feeling in ths United States which reflects how im- portant Canadian trade is. The stockbrokers said the Contracts with employers will j way lo stimulate the economy, be monitored to ensure the is for Canadians to invest heav- terms of the proposal are being ily in Canadian owned indus- kept. try._______________________ Computerization looked at by planning commission Two special projects of the Oldman River Regional Plan- ning Commission for 1972 will add to the budget ap- proved at the regular commis- sion meeting Tuesday night. The more-costly of the two projects is an economic base study to be performed for two Adderley. executive di- rector of ORRPC, said the study was a re-occurring item started in 1967 by the province, but the completed two-year study was termed unsatisfac- tory for use in southern Alberta. He said a study of the ORRPC region, which ranges years at a cost of S20.000 each! [rorn the B.C. border east to year. j the eastern boundary of the Municipality of Taber and from the U.S. border to north of Vul- can and Nanton, was necessary. Any community planning is based on the economy of the region, he said. Computerization of regional land use information will cost ORRPC S10.000 to set up and each year to keep up. He said the plan would more than pay back the neces- sary for its operation for five years, by time saved in renew- ing information about the 33 municipalities, towns and cities served by ORRPC. He indicated it was still ten- tative at this time because the province might decide to com- puterize the land information on a provincial level. ORRPC may get the go-ahead for the project so the province can assess the effectiveness of the computer work before get- ting involved on a province-wide basis, he said. Frosty danger i Police Inspector Max Coup- land reminded all motorists to-} day to be sure the windows of j their cars are free from frost' before they get behind the wheel to drive. "A vehicle cannot be driven safely when the driver's vision j is restricted by said the inspector. Tickets can be issued to mo- torists with frost-obscured win- dows i The LARGEST ASSORTMENT of imported styles in LETHBRiDGE OPTICAL PRESCRIPTION CO SOB Ivihbndg? 327 3609 SEE WHAT THE LETHBRIDGE COMMUNITY COLLEGE CAN OFFER YOU Daytime Courses and Programs in: CARPENTRY-for those desiring to learn the skills of the trade. January 10 to March 3, 1972 COMMERCIAL COOKING-beginning January 3, 1972 WELDlNG-improve your welding skills or commence your training in arc or oxy-acetylone welding. January 3 to February 11, 1972 or February 14 to March 24, 1972 or March 27 to May 5, 1972 For Information on Iheia couriPs and other coursei starling January 3, 1972, Lethbridge Community College Phone 327-2141 B E HARDWARE 414 13th ST. N. PHONE 328-3541 SANTA CLAUS will be in our store Saturday, Nov. a.m. to 12 noon and 2 p.m. to 4 p.m. FREE GIFTS FOR THE KIDDIES! FREE COFFEE AND DONUTS! Q SUPER TOY SALE! FOR GIRIS AND BOYS WE HAVE ALL THE NEW AND POPULAR GAMES HANG ON ARiSTOCATS HURRY UP MILIE EORNSE HANDS DOWN HARVEY BUCK-A-ROO KER PLUNK BANG BOX CROSS OVER THE BRIDGE DON7 COOK YOUR GOOSE ANTS IN THE PANTS PEANUT BUTTER ond JAM ONE COUNTER OF TOYS PRICE 20% OFF ALL REGULARLY PRICED TOYS 3 DAYS ONLY THURS., FRI. AND SAT. OPEN FRIDAY EVENING UNTIL 9 B E HARDWARE 414 13lh Street N. Phone 328-3545 HURRAY FOR THE RED WHITE (s'Blue) BttSMfSSai Labatts ALBERTA BREWERY LIMITED ;