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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 19, 1974, Lethbridge, Alberta Saturday, October THE LeTHMIOQE HERALD Wheat supply changes little WINNIPEG (CP) Visible supplies of Canadian wheat showed little change for the week ending Oct. 9, the Cana- dian Grain Commission said this week. In its weekly report, the commission said visible supplies were 428.2 million bushels, an increase of bushels from the previous week. During the same period last year, visible wheat totall- ed only 408.5 million bushels. Farmers' marketing decreased to million bushels from 11.5 million bushels the previous week, while in the same peiiod in 1973, the figure was 11.4 million bushels. Exports increased to 8.2 million bushels from 4.4 Alberta harvest nearly in CALGARY (CP) Mild weather during the last week allowed grain farmers to get more than 80 per cent of their 1974 crop in the bin, the Alberta Wheat Pool said Friday. "Alberta's harvest now is within 10 days of completion." The pool, in its weekly crop report, said swathing of all crops except flax is completed and only 10 per cent of wheat, oats and barley acreages re- main to be cut. "All the rye has been swathed, while 95 per cent of the flaxseed and 98 per cent of the rapeseed are in swaths." The Red Deer and Peace River region were the slowest in harvesting this year and, except for a small amount of flax, harvesting is finished in southern districts. Estimated yields changed slightly during the week with wheat at 25 bushels, oats 51, barley 39, flax 14, rye 20, and rapeseed 16 bushels an acre. Belgian butchers unhappy BRUSSELS (AP) There are rumblings of discontent among Belgian butchers because of the government's inflation fighting strategy of fining butchers who refused to lower meat prices. The 1.500 butchers of Antwerp province closed their shops Wednesday to protest fines against 50 butchers. The 1.000 butchers in Liege province announced plans to shutter their shops for a half- day next week. In August, the ministry of economics lowered beef prices by five per cent and the price of pork by 15-per cent Many butchers have refused to go along, and government officials have imposed fines of up to A shop can be clos- ed for a month if the owner refuses to pay the fine. The National Federation of Butchers claims the measures are unconstitutional. It is appealing the order in the courts million bushels the previous week, compared to the 7.0 million bushels exported in the same period last year. Statistics for other principal grains, with the previous week's figures in brackets are: Visible supplies: Durum 31.2 million (31.4 oats 18.2 million (17.9 barley 121.8 million (123.1 rye 11.3 million (11.1 flax 6.1 million (5.6 and rapeseed 20.2 million (17.5 Farmers' marketing: Durum 1.5 million (2.3 oats 1.0 million (1.1 barley 4.2 million (5.8 rye flax and rapeseed 3.1 million (3.2 Exports, overseas and to the U.S.: Durum (1.3 oats Nil barley 3.9 million (3.7 rye Nil flax rapeseed Nil Stocks of principal grains at Thunder Bay totalled 53.0 million bushels during the week, a decrease of 8.8 million bushels from the previous week. Last year at this time, Thunder Bay stocks were down to 30.1 million bushels. Silver mine begins SILVER CITY, Idaho (AP) A mining company says it is beginning development of a gold and silver mine in southwestern Idaho that could produce five per cent of U.S. silver. William C. Cole of Earth Resources Co., Dallas, Tex., said his company will spend million to develop an open pit mine and mill in the Silver City area. It should be in production by the fall of 1976, he said. Cole said the company controls several square miles and estimates it holds gold and silver deposits of about 26 million ounces. -The area boomed after gold was discovered in 1863 and hit its heyday in the 1880s. By 1875, it had produced more than million in bullion. Second World War restrictions caused the mines to shut down and Silver City has been little more than a ghost town since the 1940s. Cole said Earth Resources is the operating partner in a joint venture with Canadian Superior Oil Co of Vancouver. He said production is es- timated at 2.2 million ounces of silver a year after 1976. Total U.S. silver production last year was 37 million ounces and Idaho produced about one-third of it. 4 u to port From the air, the car-handling facility at Dartmouth, N.S., looks like a giant parking lot. The grounds can accommodate up to cars at a time, bound for North American markets from 13 major foreign manufacturers. Energy agreement may bind Canadians Herald Ottawa Bureau OTTAWA If Canada ra- tifies the proposed inter- national energy sharing agreement as expected, Canadians might find themselves subjected to binding energy sharing decisions which Canadian representatives on the proposed International Energy Agency had voted against. Under a unique "weighted- majority voting system" geared to making' fast decisions which would be binding on all participating countries, Canada would be given only 6.6 percent of the weighted vote amongst the 12 participating nations in the In- ternational Energy Agency. The United States would be given 38.9 percent of the Chrysler announces cost-cut program DETROIT (Renter) Chrysler Corp. said this week that it has implemented a SAFIWAY Mr. Business Man! HERE'S THE ANSWER TO YOUR GIFT PROBLEM! For employees, business associates or just a friend. Available for a Ham, Turkey or Mer- chandise if so desired. FOR FURTHER INFORMATION, CALL Mr. Jack Cornwell at 249-2501 "stringent and intensive" cost-cutting program that will result in layoffs of an un- specified number of salaried workers. However, The United Auto Workers union says the car maker already has planned the shutdown of its Newark. Del. plant which will put hourly employees out of work. Chrysler said it has made no decision yet on the closing of the Delaware facility, but in a separate statement indicated that sharply higher costs and declining auto sales have shaped a future of cuts in out- put and delays in previously- planned expansions. "We are reducing fixed costs, combining operations where possible and reorganiz- ing departments for better cost-control and improved ef- ficiency, a spokesman said. In addition, he noted, "we are reviewing capital spending plans and deferring programs that are not im- mediately essential." In addition to Chrysler, Ford Motor Co. and General Motors Corp. also are believ- ed to be reviewing their spending and products programs, although officials have denied that any major cutback decisions have been made yet. voting weight, the eight Common Market countries 38.2 percent of the voting weight, Japan 13.2 percent, and Norway just under 3 percent. The votes are primarily pro- portional to the respective country's oil consumption, which is the main reason for the domination by the U.S. in the weighted voting scheme.. In the most important mat- ters covered in the complex draft agreement, 10 of the 12 participating countries must vote in favor, no matter what the weighted vote. But in most matters, passage by the IEA requires a 60 percent total weighted average vote, involving six countries or in special cases involving nine countries. The energy sharing agree- ment, which comes into effect provisionally next month, will apply for 10 years to those countries which officially ratify it by May 1, the agreement is terminated by majority decision. Canada could leave after 12 months notice, but not before late 1978 at the earliest. In the short-term the emphasis in the agreement is on establishing oil shortage sharing and oil shortage prevention mechanisms. The agreement also would establish a "permanent framework" for consultation with oil companies playing a significant role in inter- national oil trade and would aim at promoting long-term energy conservation and development .of alternate sources of oil, to reduce general dependence on im- ported oil. Energy Department of- ficials told the Commons energy committee Thursday that when it comes to the joint action by participating countries in the face of a general cutback in world oil production, Canada would be well off, since she is a net ex- porter of oil and since she has excess reserves and oil pro- duction capacity which could be used to protect Canadian consumers. They added that in the event of a selective oil embargo against Canada, the country could call for help under the agreement in the face of a 3.5 percent total domestic oil shortage, instead of having to wait for a 7 percent cutback as other countries would, since only-Eastern Canadian im- porters (about half the country's requirement) are covered under the agreement. Farmer alleges excess profit on beef prices TORONTO (CP) Grant Burroughes, president of the Ontario Beef Improvement Association, says somebody is making excess profits on fall- ing beef producer prices. In the last nine months, the wholesale price of imported boneless material for fallen to SO cents a pound from a drop of almost 50 per cent. Meanwhile, the price of hamburger in major Toronto supermarkets has gone to 88 cents a pound from a drop of about 25 per cent. In hamburger stands and take-out restaurants, prices have not dropped at all. In some cases they've gone up. Mr. Burroughes, a farmer said in an interview this week he can't understand why con- sumers aren't getting the benefit of falling beef prices. He is one of many farmers who have been asking Agricul- ture Minister Eugene Whelan for a formal investigation into the beef industry. Mr. Whelan said in Toronto Tuesday that he is considering a1 formal in- quiry and will make a decision in the next few weeks. Mr. Burroughes said: "Right now there's a 'ridiculous spread in price between top-grade steers and low-grade cows, but it's not being reflected in retail prices." While the price of top steers on the Ontario stockyards is 48 to 50 cents a pound, low-grade cows are fetching only 12 to 16 cents a lowest they've ever gone, he says. But hamburger, sausages and wieners made from low- grade cows haven't dropped nearly as much in price and Mr. Burroughes thinks'that someone .along the line is tak- ing an excess profit. Meat packers deny that they are to blame. Jack Dampsy, public rela- tions spokesman for Canada Packers, said: "Prices for low-grade what we call earners and trended sharply downward for the past two weeks and wholesale prices have followed that trend. "But you have to remember IBM denies consortium takeover NEW YORK (CP) Inter- national Business Machines Corp. denied Friday any knowledge of a reported takeover bid by an Arab con- sortium. A company spokesman read a short statement at IBM headquarters in Armonk, N.Y., which said IBM had "no knowledge of any negotiations for the sale of IBM stock to any Arab consortium." The company had no further comment. The report stirred stock ex- changes around the world. In Paris, IBM shares rose sharply, breaking the 900- franc mark compared with a quote of 845 Thursday. Shares also were sharply higher on the London exchange. The report about a possible Arab takeover first was carried by Egypt's official Middle East News Agency. The report did not specify who was involved in the negotiations, nor who was in- volved in the alleged con- sortium. Manufacturing output rises OTTAWA (CP) Manufac- turing output rose in August when results from all in- dustries are combined but there were some ups and some downs among key sec- tors. Statistics Canada reported this week. The agency's index of manu- facturing broad measure of output which dis- counts the effect of price in- by one per cent The index for mines was down two per cent. The index- es are adjusted to account for seasonal factors. Those two are components of the index of real domestic is a measure of total productivity of the give an early indication of direction of the economy as reflected in the over-all index. Production in all aspects of mining, including fuels, was down as shown by the sub-in- dexes. There also were declines in indexes for some manufacturing sectors processing minerals. Petroleum and coal products manufacturing in- dustries were off 3.8 per cent and chemical products in- dustries one-tenth of one per cent. Petroleum product inventories are high and there have been some production cuts at refineries. Production in transporta- tion equipment industries was up 4.5 per cent and in metal fabricating industries there was a 1 Iper-cent increase. Wood industries" production was down 2.2 per cent There is a slump in housing produc- tion in North America. Production in paper in- dustries rose by two per cent and rubber jumjjed 18.5 per cent. The increase hi rubber was due to recoveries follow- ing strikes ending in July. There was a drop of 1.9 per cent in the index for textile production and eight tenths of one per cent o fod and beverage production. Olympic coin sale boosted OTTAWA