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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 28, 1974, Lethbridge, Alberta 34 THE LETHBRIDQE HERALD Thursday, November 28, 1974 Several factors responsible Sugar price increases outstrip other foods New York Times Service NEW YORK At the first of the year, sugar sold in U.S. grocery stores at 18 cents a pound. It is now averaging about 55 cents and is expected to be above 65 cents a pound within a few days. The new increase, on top of a rise of 300 per cent in the last year and 30 per cent in the last month, appears inevitable as a result of increases already announced by sugar refiners. Sugar increases have out- stripped by far the price rises this year of all other foods. Why? It is a question that has stirred not only outcries from consumers, rationing by supermarkets and hoarding by some shoppers, but also a standing whisky Canadian age. Taste our classic example. CAXA.DJA.N HERITAGE HERITAGE Distilled and bottled in Canada series of federal investigations. Studies of skyrocketing prices and high refiner profits have been announced by both the justice department and the new council on wage and price stability. In addition, a two-year inquiry by a federal grand jury in San Francisco on possible price-fixing by beet-sugar and cane-sugar refiners has closed with strong indications that several indictments will soon be returned. Sugar prices have soared as a result of several factors: 1971, worldwide sugar consumption has ex- ceeded worldwide sugar production. No narrowing of the gap is expected for at least a year. Adverse weather conditions this year have sharply reduc- ed the beet-sugar crop in Europe. Mild, dry conditions and an infectious plant dis- ease, the "virus have cut the latest harvest there 30 per cent, virtually assuring it will be insufficient to meet the current year's demand. It appears unlikely that world sugar production will catch up before October, 1975, when next year's crop is harvested. Turbulent commodity speculation, mostly by middle eastern countries, faced with a need to invest the revenues resulting from their quadrupl- ed oil prices has also driven up prices. Algeria, for ex- ample, has bought about three million tons of sugar and Kuwait about two million within the last month equivalent to about one-third of the American consumption and considerably more than their own domestic needs. The Soviet Union, traditionally the world's largest producer, and other eastern bloc countries have switched from exporter to im- porter status, after their own beet-sugar crops failed. Moscow recently bought about tons from the Philip- pines, Australia and Peru. least two major foreign sugar sources, the Philippines and Poland, recently suspended exports in an effort to stabilize their own supply situations. Ironically, the present shor- tage, sugar economists say, arises from a hasty worldwide over expansion of sugar production following the suspension of Cuban sugar sales to the United States in the 1960s. As an aftermath to that supply glut, most sugar producing countries began to limit their growing through the rest of the decade. Some critics also charge that American sugar refiners are earning record profits partly by selling their products at high world sugar prices after buying raw sugar at sharply lower prices on the commodity exchanges. Such action is not illegal, but it raises the question of whether such savings should have been passed along to con- sumers, rather than ac- cumulated as corporate profits. Mini guardsmen Clasped hands are more in evidence than swinging arms as a squad of mini guardsmen marches away from Buckingham Palace in London. The children, from a kindergarten near Chelsea Barracks, had been taken by a teacher to watch the changing of the style. Provincial body to handle complaints on advertising Sears where Christmas ideas begin... Give a Chocolate-lover a thoughtful gift that's always in perfect taste b-Liqueur Cherries. Beautiful display box from of Holland 9 oz of delicious Brandy cherries in dark chocolate 87R 019 214 C-AuthentJC Dutch Clog. Made of wood, contains assorted liqueur-flavored chocolate bottles by Frank Rademaker. 87R 019 204 f-LiqUOUr Chocolates. 10 chocolate bottles filled with assorted liqueur flavors Wrapped in bright foil In window box. j 87R 019 203 I Tasty values! Scott's Gift Box 349 v-Contains oz. jars of Scottish jams. 87R 020 305 W-RobertSOn jams. From Scotland Gift packs contain eight assorted 1 oz. jars 87R 020 240 X-European Tour. 2 Ibs of cheese from Denmark. Austria. Finland and Switzerland 87R 020 6GO y-Sandwich board. 2 Ib Austrian and German cheeses On wood serving tray 87R 020 622 z-Black Wedgewood Oval, with more than 1 ib of delicious cookies 87R 020 453 aa-Round flower-design tin. contains 26 oz assorted cookies from England 87R bb-Blltane-fueled for dependable lighting action Tough plastic body Four colors 87R 032 263 Sure-fire buys Ronson's "Super" lighter 595 petite Satin-finish lighter with bright, engraved design 87R 032 176 lighter by Benson Top quality Chrome finish, engraved design 87H 032 243 Lighter. Famous flonson style has color body and chrome bands V" Lighter. By wm m lustre chrome or QDXJ- lone finishes S7R 032 461 Ladys lighter in lustre chrome S7R 032 020 at Simpsons-Sears you get finest guarantee satisfaction or money refunded and free delivery g d-FranK 'Rademakei- liqueur chocolates Simpsons-Sears Ltd. Store Hours: Open Daily a.m. to p.m. Thursday and Friday a.m. to p.m. Centre Village Mall. Telephone 328-9231 Alberta Advertising Stan- dards Council Calgary, is the name of a body set up to administer the Advertising Code of Standards in Southern Alberta. The Council will begin im- mediately to process com- plaints concerning violations to the code, it was announced in Calgary today. Increasing consumer interest prompted the Canadian Advertising Ad- visory Board, parent of the Council, to establish separate groups to handle regional complaints. An advertising standard council covering Northern Alberta will head- quarter in Edmonton. The Council consists of members representing media, advertisers, agencies and two members- from the "public" sector. The members include Frank McGirr, advertising director, The Calgary Herald, Herb Marshall, vice president, manager, CFCN- TV; Gordon Walker, general sales manager, CHQR Radio; William Zanewick, merchan- dise superintendent Simpsons Sears; Bob Hanson, vice president and manager, Baker Lovick Limited; Mrs. G. L. Bush, member, Consumers Association of Canada and Canadian Consumer Council; and Robert Kenny, assistant to the chancellor and ex- ecutive officer of the Senate, University of Calgary. The Code of Standard they will use was developed by the Canadian Advertising Ad- visory Board and has been adopted by all its members, including businesses and the media, across Canada. When a complaint is received, the advertiser, member or not, is contacted by the Council for his side of the matter. If the Council then finds a violation of the code has occurred, the advertiser is requested to withdraw or correct his material. When the Council does not receive co-operation, it is empowered to require media subscribers to the code to suspend publica- tion of the offending adver- tisement. The National Standards Council has used such ex- treme measures very rarely, and feels the Calgary Council will be given similar co operation. Mr. McGirr, chairman of the Calgary Council, emphasized that rulings are not made on questions of taste but only on the truthfulness of the advertising. The Council works strictly within the terms of the Code of Stan- dards. Mr. McGirr sees the Council as a vehicle for improving Alberta advertising, since it will put advertisers in touch with consumer reaction. All complaints directed to the Council must be made in writing to the Alberta Adver- tising Standards Council Calgary, P.O. Box 2990, Calgary. Copies of the Code and additional information are available from the same address. Shell Oil negotiating major deal with Iran NEW YORK (AP) Shell Oil Co. is negotiating with Iran on a major deal that might result in an Iranian investment in Shell's gasoline marketing in the northeast United States. Spokesmen for both Shell and the National Iranian Oil Co. stressed today that the taiks were centred on possible joint construction of a billion refinery in Iran with long-term assurance of Ira- nian crude supplies. Also involved in the dis- cussions, which have been go- ing on for more than a year, are two smaller American oil Central Petroleum Corp. of Baltimore and Apco Oil Corp. of Oklahoma City. Agreement on a broad- range deal might give Shell access to crude and provide Iran with both a large modem refinery and access to a major industrialized market. It would be the first known investment in the U.S. gas- oline market by a Middle East country. A decision on the proposed refinery might come late this year or early next year. Abbas Ghaf- fan, U S representative or the firm said Iran controls about 10 per cent of the world's estimated crude oil reserves and is the third largest producer in the non-communist world. Profits up MONTREAL (CP) The Royal Bank of Canada an- nounced Tuesday its balance of profits for the year ended Oct. 31 was or 1.87 a share compared with or a share for the previous fiscal year. Balance of revenue for 1974 was 9.8 per cent higher than in the previous year. Assets at the fiscal year-end were billion, compared with billion last year. NO MANDATE HALIFAX