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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 5, 1973, Lethbridge, Alberta 36 THE LETHBRIDGE HERALD Wednesday, September 5, 1973 After a year, business warming to Barrett PREMIER BARRETT VANCOUVER (CP} A year ago, British Columbians elected their first New Democratic Party government and the screams of big business echoed across Canada. Today, business and financial leaders are cautiously warming to Premier Dave Barrett and his NDP administration, par- ticularly since he returned from a recent trip to New York and Europe. "Since that trip, he seems to have moved more towards ths middle from the extreme non- business attitude he may have held says a financial analyst. "I think he has eliminated a lot of doubts and negative feel- ings by his stated policy of de- veloping northwest says another. "He's made mistakes but he seems to have taken a more reasonable view on nation- alization after his European trip, and is letting other com- panies return to says a banker. "He gives the impres- sion he can be pragmatic. He showed well at the western pre- miers' economic conference, on northern development, and in banking." After the NDP was elected Aug. 30, 1972, Premier Dave Barrett's government pre- sented, and approved, some 90 bills, about 24 of them having a direct bearing on business. SUPPORT ARGUMENTS Latest figures from Ottawa appear to bolster businessmen's arguments that manufacturing expansion in the province has slumped since the NDP's elec- tion. The mid-year outlook of Sta- tistics Canada says total manu- facturing investment in Canada is expected to run 19 per cent above the 1972 level. This is a nine-per-cent increase from the January tally of investment in- tentions. In B.C., however, total manu- facturing investment is ex- pected to run nine-per-cent be- low last year. But this is a two- per-cent advance from the January tally of investment in- tentions. On the basis of capital spend- ing plans for all business groups, excluding housing but including utilities and trans- portation, Canada's mid-year spending estimate is five-per- cent higher than the January estimate and 19-per-cent more than last year. B.C.'s expansion also is five- per-cent higher than the January estimate and 11 per cent ahead of last year. In the trade-finance-com- mercial area, bolstered by ho- tel, office and store construction projects, Canada shows a 32- per-cent gain over last year. B.C. spending plans are a healthy 24-per-cent ahead of 1972. "Nothing the government could do in one year could really stop the B.C. economy from being swept along in the international cormnodides says Michael Ryan, chairman of the Vancouver Stock Exchange. "On the negative side, we're going to have a slower develop- ment of the mining industry. Mining companies with the choice are spending their capi- tal outside the province rather than inside it." On the other hand, Mr. Ryan says: "The mining and forest products industries are starting to get good communication with the government. "We can even get opinions from deputy ministers. Commu- nications are better than they were with the previous govern- ment.1' Lately, the mining industry's top executives have had little to say about the future, but one middle executive comments Sept. 1647-18 that "there is no doubt about it, the industry has not learned to communicate with Victoria ef- fectively although the opportun- ity is there." A department of mines offi- cial at Victoria says: "Quite frankly we are beginning to think the industry, with a few exceptions, is getting paranoiac about the whole business of speaking out on what issues they feel really affect them." Some mining executives are apparently convinced the gov- ernment plans major mining legislation at this fall's session of the legislature. The Victoria official says: "We will not introduce startling pieces of legislation, except to introduce and clean up some technical aspects of the Mineral Act." Patrick M. Reynolds, presi- dent of Bethlehem Copper Corp. Ltd.. says a year "is not long enough for us to see a little more clearly what lies ahead. "While we still do not know the ground rules, we take some assurance from the fact that the government is giving long and serious thought to mining's place in the economic and so- cial structure of the province.'' Mr. Reynolds says he is en- couraged by the action of Mines Minister Leo Nimsick to "ap- point an experienced mining man as his deputy. The appoint- ment could be interpreted as a Propane price boost study under wa EDMONTON The provincial government is con- ducting a study of the rising cost of propane, says Roy Far- ran, telephones and utilities min- ister. The minister said the average price of propane in Alberta in 1972 was 14 cents a gallon. Although price increases in some areas of the province are "alarming." propane is still a competitive fuel compared with natural gas, said Mr. Farran. sign that the government plans to adopt a practical approach to mining problems." On the credit side, business- men say Premier Barrett has: appreciation of the complexities of business and finance; indications of fair- ness, onen-mindedness, in- telligence and strong dedication to developing all the B.C. econ- omy, not just favoring one side; much better commu- nication recently between gov- ernment and business, along with mutual consultation in tome areas. OUTLINE PROBLEMS On the debit side, among the problems cited were: land freeze and the Land Act which set up a com- mission to rezone all potential farm and agricultural land in the province; increases such as the 0.1-per-cent tax on capital used by corporations: public works Fair Em- ployment Act, in which the gov- ernment will deal with no one in public construction except those with union contracts; Insurance Act, which lets the government take over primarily automobile insur- ance: Barrett's tendency to react and speak, then ask questions. Still undecided are the pro- posed B.C. Development Corp. and the transportation and re- source development of north- western B.C. Businessmen worry that the proposed corporation will be tempted to take unjustified risks. Some are excited about the prospects of northern devel- opment while others worry about high costs and labor turn- over. Rick Brooke-Hill, portfolio manager for Phillips, Hager and North, says it's difficult "to say where it's going next." "This shows up in terms of attracting capital for industrial expansion. There hasn't been a significant new investment but we haven't seen the flight of it, either.'' Ghost in skies B.C. Telephone earnings down Following a ghost to earth from feet up is not the most comforting of if you're a gung-ho member of the Canadian Airborne Regi- ment at Edmonton. The white parachutes of two paratroopers recently com- bined to give the impres- sion one member of the regiment was preceded by a ghost faking an eerie exit of his own. VANCOUVER (CP) British Columbia Telsphone Co., has reported net earnings of 000 or a share for the first six months of 1973 compared to net earnings of or 82.74 a share for the same peri- od last year. The company reported an in- crease in earnings during the first quarter of 1973 but said that a 17 per cent increase in expenses kept second quarter earnings below those in the com- parable 1972 period. Nst earnings for the second quarter of 1973 totalled 000 or a share compared to net earnings of or a share for the second three-month period in 1972. In its report to shareholders B.C. Telephone said changes in both federal and provincial in- come tax rates on utilized capi- tal were responsible for an earnings reduction of 19 cents a share in the second quarter of 1973. The total reduction from these changes was 36 cents a share in the first six months of this year. The report said expenses for the second quarter of 1973 amounting to were 17 per cent more than in the second quarter of 1972. UTHERN General Public Invited To Meet and talk with Government Members On September 16, 17, 18, the Honorable Premier Lougheed and members of the cabinet will tour Southern Alberta to meet citizens to learn first hand the problems of the people and their communities. The area map shows the towns and cities that will be visited by groups of cabinet ministers. Please contact your local Municipal office, Board of Trade or Chamber of Commerce for the date, time and location in your area. High River Jberra GOVERNMENT OF ALBERTA Cardtton Don't Miss This Opportunity To Meet Members of your Government While They Visit Your Area CENTRE VILLAGE MALL TELEPHONE 329-0037 4 piece white, plastic mixing bowl set. Vz bushel tub, Avocado, Copper, Gold. 6 comportment cutlery tray 14 qt. dishpan, Green Gold, Pink 14 qt. spout pail, Gold, Green, Pink Drain board mat. Green, Gold Dish rack, Green, Gold. Ti bushel laundry basket, Red 24 qf. waste bosket, Pink, Green, Gold. I GO SERIES STEEL Consists of: A 1 qt. covered saucepan 9 2 qt. covered saucepan 6 qt. covered dutch oven TO" open skillet INFANT T-SHIRT. 100% cotton print, button shoulder, sizes 1-2-3. Assorted colors................... TODDLEU NYLON T-SHIRT. rib, zip neck, assorted colors, sizes 2-3x........................... BOYS' OR GIRLS' WESTERN STYLE DENIM JEANS. 10 oz., sizes 8-16, 4 pockets, zipper fly................. BOYS' OR GIRLS' FASHION SWEATER. Assorted sties, Sizes 816, limited quantities............. MEN'S SWEATER. Turtle neck, 100% ocrylic. Navy, burgundy, pink. Horizontal stripes....... .22 AMMUNITION. Super X22 short ammo. Reg. 89c....................... .22 AMMUNITION. Super X22 short ammo. Reg. 87c...................... WINCHESTER SUPER X HIGH VELOCITY 22 IONG RIFLE AMMO. Reg. 1.07.................................... CIRCULAR 7V BLADES. Combination chisel tooth and plywood blade. Package of 2 1.77 2.99 7.99 770 970 2.99 WESTINGHOUSE KITCHEN BULBS. Frosted. 150 W., 1000 hr. life. Reg. 46c------Special BATTERY CHARGER. 12v., 2 amp., with receptacle. Reg. THERMOS. Wide mouth, 15 oz. Reg. 3.89. Only PLASTIC UTILITY CAN. 18 gal., snap-on lid, avocado. Special 24 PCE. SPANISH MIST CUTLERY SET. Stainless steel. Super Value IRON PAD AND COVER SET. Teflon table SHAG MAT. 21" x Assorted colors. Special BLANKET THROW. 77" x Assorted BRECK SHAMPOO. IS oz., 50% more. Normal or dry. Special for 11, 50% OFF CORNINGWASE TWIN SET Consist of: oz. covered1 saucepan oz. covered saucepan T11 SUPER VALUE f CREST ALL SERVICE TIRES AT GREAT SAVINGS j.49 EXAMPLE F78xl4 ____ ONE-COAT INTERIOR Dries to a tough, washable finiili. C base qt. Reg. 3.45 C .base gal. Reg. 10.95 base qt. Reg. 3.45 base gal. "9 00 Reg. 10.95 j 2-47 7OQ iDD WINCHESTER COOEY MODEL 64 22 SEMI AUTOMATIC -PLUS- WEAVER MARKSMAN 4X SCOPE -PLUS- 50 SUPER X22 LONG CARTRIDGES ALL FOR ONLY ;