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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 18, 1974, Lethbridge, Alberta Wednesday, September THE LETHBRIDGE HERALD 'Drop negative attitude to foreign TORONTO (CP) Senator Ernest Manning of Alberta said today Canadians "should drop their negative attitudes to foreign capital and concentrate on insuring max- imum benefits from foreign investment." Suggesting the export tax on oil to the United States be low- ered, he said Canada is treating the U.S. the way the Arab states have treated their enemies. "This is not the way Prizes for attendance help cut absenteeism SYDNEY, Australia (Reuter) An Australian firm which offered employees fur coats, television sets and diamond rings if they came to work every day today reported a cut in absenteeism of only 10 per cent in two months The firm which makes car tires and employs about persons, reported losing 600 man days a week before the incentive scheme was introduced. The figure now is just more than 500, a company spokesman said. He said the company will continue the scheme. to preserve and strengthen good international relations." The wellhead price of West- ern Canadian crude oil has been set at a than a barrel below the present world market price. On crude oil ex- ported to the U.S., the Ca- nadian government collects an export tax of a barrel. Senator Manning told the annual meeting of the Inter- national Claim Association (ICA) that the tax revenues are used to subsidize the price of petroleum products in Eastern Canada refined from foreign oil imported into these regions at world prices. GIVES REASONS Senator Manning, former Social Credit premier of oil- rich Alberta for 25 years, said the export tax should be lowered for two reasons. First, prices demanded by Arab states are "excessive" and determined not by cost factors but by political con- siderations. "I do not like to see my country taking advantage of such a situation to charge a friendly neighbor all that the traffic will bear." Secondly, the large volume of trade between Canada and the U.S. is so important to both countries that it should be assessed in its entirety and not on the basis of what an ab- normal situation permits one country to charge for any one single commodity. Canada, during the first seven months of this year, ex- ported nearly billion worth of products, two-thirds of which went to the U.S. During the same period, 68 per cent of all goods imported into Canada came from the U S., he said. Arctic town gets long distance call HAY RIVER, N.W.T. (CP) Canadian National Telecommunications today announced long distance telephone service has been provided to the small com- munity of Spence Bay, 850 miles northeast of here in the Arctic. The service to the communi- ty of 406 people was launched by a long distance call from Jim Green, Spence Bay settle- ment manager to S W Han- cock, assistant territorial commissioner at Yellowknife. The mutual importance of this large volume of trade de- mands preferential treatment when either country is faced with a serious supply problem "I am confident the U.S. would have reciprocated with trade concessions to Canada if this country had offered to sell oil to the U.S. at a price even moderately lower than the ex- cessive price demanded by the Arab nations as part of their international oil boycott he said. The senator said Canada must have access to substan- tial amounts of foreign-risk capital to ensure a sustained high rate of economic growth and better living standards for Canadians Foreign investors must be sensitive to Canada's legitimate concerns and interests, he said. They must be willing to accept minority equity positions in Canadian companies and be prepared to enter into joint ventures with Canadian companies rather than setting up new firms which are foreign-controlled American companies who want to do business in Canada must use Canadian manage- ment and labor to the fullest possible extent, he said. On the other hand, both the federal and provincial govern- ments must avoid arbitrary blanket controls which make Canada unattractive to foreign investors, he added. Governments should also avoid giving government agencies broad regulatory powers over investors, Senator Manning said. And, he said, it is especially important to avoid tax policies which impair and dis- courage either domestic or foreign investment More money OTTAWA (CP) Money supply grew by million during the week to Sept 4 as increases in volumes of currency in circulation and chartered bank Canadian dollar deposits continued at a rapid pace The Bank ot Canada's week- ly report Thursday showed that the total of 476 billion outstanding on Sept 4 was 573 billion greater than the total on July 24, when the central bank boosted the bank rate to a record per cent Canada Grade A1 and A2 Steer Beef ____ PRIME RIB ROAST Ib. SHORT RIBS Canada Grade A1 and A2 Steer Beef, Ib PORK ROAST Tablerite Alberta Lite Shoulder, Picnic Style, Hock On, Ib FRYING CHICKEN 69 Country Fair, Tray Pack, Cut Up, Ib Ifc. cMnictn PIPUIPQ dlflUmLlJ I lUlllvO Burro ShanMeaa, Fully Cooked, Ib GROUND BEEF HAMBURGER PATTIES A79 Freeh, to. Redt-eaf, Sib. box, each "T BREAKFAST SAUSAGE flQo WW BOLOGNA figo Burro Royal, by the piece, Ib W SIDE BACON J39 BOSTON BUTT Burro Royal, 11b. pkg. Prices Effective Until Closing Saturday, September 21st, 1974. We Reserve the Right to Limit Quantities. PERFEX Wfl.oz.jug 59 MUSHROOMS Steak Home, Sterna and Pieces, 10 fl. oz. tin EVAP.MILK Carnation, 16 fl.oz.thi BABY CEREAL DETERGENT KING CHEER 99 1 2'7Oc ORANGE JUICE Q 1 11V VlUtnUI. JUIVk I Lam Seari. fid f el R f York Sweet, II. oz. tin R I 790 o MSOHL, I49 DOG FOOD I09 UaUv i PIE FILLING CKMEHMSE 109 attam Smlih' L-mQn' fcRWw A PIE FILLING 550 E.D. Smith, Rhubarb and Strawberry, iStLoz. tin W Ispllatopal. Ism A QUENCH CRYSTALS ftRc TEA BAGS CM .4 Flavour., 4-3.5 ot. pfcgs. W Tenderleaf.aoperpko, W Owr.14H.oi atXVlP AOft 98Q ;