Winnipeg Free Press Newspaper Archives Nov 1 1971, Page 61

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Winnipeg Free Press (Newspaper) - November 1, 1971, Winnipeg, Manitoba20 Winnipeg free press jottings or i 1971 from the business world by Philip Anwyl dropped on the desk it s convention time this week for Manitoba organizations. The annual meeting of the tourist and convention association of Manitoba inc. Takes place thursday and Friday at the Northstar inn while the Winnipeg motor dealers association links with the Manitoba motor dealers association in a combined convention at the Winnipeg inn on the same Days. Air ing their views at the tourist conference will be professor Irving oilman president of the Institute for analytical research peeks ill new York v. S. Emery marketing development director of air Canada Dave Livingstone assistant director of marketing with the Canadian government travel Bureau Philip Thompson Deputy commissioner of Manitoba s Northern affairs former Maclean s publisher f. G. Brander president of the travel Industry association of Canada or. H. D. Hemphill managing director of the Manitoba museum of Man and nature and g. D. Taylor director of the research and planning Branch. Or. Oilman s address should be particularly informative for delegates. He has been associated with a great Many in depth studies related to the tourist Industry in North America the motor dealers have gathered a wide variety of speakers including or. John h. Furbay of Phoenix Arizona Courtesy of Gen eral motors Roland g. Grandpre executive director of the Manitoba Institute of management Ernie j. Caste Lane vice president of traders group Ltd. And Jim Clare executive vice president of the federation of automotive dealers associations George r. Par sons president elect of the National dealers Organiza Tion Aiden j. O Brien District group supervisor for Canada life Assurance co., Walter h. Radley director of apprenticeship and Industrial training for Mani Toba Harold Buchanan general sales manager of Federated insurance and Industrial Engineer Ralph e. King this will be the first time the Winnipeg and provincial associations have held a joint convention and we Are expecting More than 200 to attend and Dis cuss trends in today s business world As they affect the automobile sales said w. Bill Brown recently elected president of the Winnipeg group Geoffrey s. Mcwilliam who has been Brit ish Trade commissioner at Winnipeg since september 1969, departed for Europe during the weekend to take up his new Post in Brussels where he will be attached to the British embassy. His successor is Kenneth w. Chesterman currently stationed in Hamburg who arrives Here in december Saunders aircraft corporation the Gimli manufacturers of the St-27 com Muter airline Are playing Host to aircrew and Engi Neering personnel of Aero Lineas centrals de colom Bia. The sout americans Are Here to Start training on their first St-27 which is ready for delivery. Saunders landed a contract to Supply the airlines with three planes which will serve the route system connecting major Industrial and population centres in Colombia. The plane will be flown by the colombian pilots to South America at the completion of their training in approximately two weeks James Richardson Federal minister of Supply and services has been lined up As the guest speaker at a dinner . Nov 7 at the Winnipeg chamber of com Merce. The meeting arranged by the agriculture Bureau of the chamber will hear or. Richardson talk on the Region ligation of Western Canada As it affects Western agriculture Robert a. Wiens general manager of Combine credit services Ltd. Sask., is the new president of the association credit bureaus of Saskatchewan and Manitoba. Other offices elected Are Lloyd fierce manager of the credit Bureau of Estevan vice president Barry Dalgleish manager of the credit Bureau of Brandon Secretary treasurer h. J. Tobias credit Bureau of Swift current and h. J. Mckinnon credit Bureau of Saskatoon directors. The association consisting of six credit bureaus in Mani Toba and 11 in Saskatchewan is part of the associated credit bureaus of t. A. Wilson president and chief executive officer of the Boeing company will be visiting Winnipeg shortly. Or. Wilson s trip is in connecting with the official opening of Boeing of Canada s new fabrication division Plant in St. James Assiniboia nov. 9. He will chair a Board meeting the Day before the event which will see Federal minister James Richardson and premiered Schreyer in attendance. Or. Earl planty is becoming a frequent visitor to Winnipeg these Days. The Man called or. Executive development by Fortune Magazine he returns to the City for a third time when he conducts the Manitoba Institute of management s three Day seminar on executive management of human resources starting nov. 15 at the hotel fort Garry. Or. Planty is an author visiting professor at the University of California and is found of the College of business administration at Haile Selassie University in Ethiopia approximately 600 people Are expected to attend the fifth annual Commerce students association business Baa aet at the International inn 6 . Nov. 22. Guest speaker is William twaits chairman and chief executive of Imperial Oil Canada who will speak on the topic of resources and people. He is also a member of the eco nomic Council of Canada the advisory Council to the department of Industry Trade and Commerce and the National advisory Momcil on Petroleum and the Canadian economic policy committee Sun tanned no doubt from his recent trip to Honolulu for a four Day convention is John b. Walsh who was honoured there As one of the leading sales of Occidental life of California. Or. Walsh the company s general agent in Winnipeg qualified for the convention by meeting High sales minimums set by the com Pany the electric service league will be holding its annual fall dinner meeting nov. 10 at the ramada inn. Guest speaker is g. R. Masquelier manager of Utility sales for Westinghouse appliance sales and ser vice company Oakview place a Winnipeg senior citizens care Home is expanding its facilities. Plans Call for a full scale movie theatre new Coffee shop and Multi acre outdoor gardens. Layoffs continue to hit Economy by Irving c. Shy not Canadian press business editor the new production cuts and layoffs announced by International Nickel add to an already Long list of work Force reductions in Canadian Industry Thi year. In addition to Inco layoffs continued to hit scattered Seg ments of the Canadian Economy during october. But there was also a handful of brighter news involving additional employ ment., or new jobs to come. There were some permanent Plant closings for economic Rea sons and others due to bankruptcies. All added to the country s unemployment woes. Latest statistics show the unemployment rate adjusted for seasonal variations at 7.1 per cent of the labor Force in sep i tember up from 6.8 per cent a year earlier and the highest since 1961. For a country with the fastest employees will replace people who retire or quit Over a period of several months meaning the Coni Pany s hiring needs will be sharply reduced during thai period. General motors of Canada Ltd. On monday starts the Layoff of about workers from on Tario plants at Oshawa wind Sor St. Catharines and scar Borough and a further 570 at Ste. Therese que. The Corn period. The company said they were hired on a part time basis. The sept lies construction firm of Normand and sons Ltd declared bankruptcy oct. 20 leaving 50 permanent employees without work and halting a million housing project. Consolidated Bathurst Ltd ceased work at its Portage do fort que., pulp Mill oct. 23 leaving about .280 temporarily out of work. The company said Pany said these were maximum expected to Call them in figures and the total could be Early november. Less. The t e 1 g r a m one of Toronto s two evening daily newspapers ceases publication today with the loss of jobs. Montreal la Presse can Ada s largest French language daily suspended publication for in Ontario the Crown owned Ltd a announced Early in october that Lay off 250 during a later. F d Cani hoped to cancel More. An the Leisure group Toboggan growing labor Force of an Indus trial nation this is a matter of increasing concern. Gerard Filion president of the Canadian manufacturers association says new Job opportunities simply have not opened up in sufficient number to keep unemployment within acceptable Quebec has been among the hardest hit by layoffs and there was a pessimistic forecast by Gilles Masse provincial natural resources minister. Speaking at the ing of a mine in Noranda or. Masse predicted the loss of 2.500 jobs in the Northwest min ing area of the province unless to Umed opera Mth a of 150 original indefinite period leaving Sis without work. The paper f Story at has been involved in a labor orders front head of dispute since mid july. Quebec lice m Angeles calif., but _. I ii7oolru chronicle Telegraph shut Down since wednesday because of a dispute with composing room staff announced Friday that it employment at the is ceasing publication As a daily steel corp mme at Wawa was and will switch to a weekly. A 58 company official said 12 report at 574 compared with 632 at the ers and 18 to 20 composing end of september room employees Are affected there were beef layoffs of workers would be involved. Crown Zellerbach announced that it is permanently closing a 21-Man lumber Mill at peach land in Early november. The employees will be offered other company jobs. ,0n the brighter Side there were these announcements 9 development minister Ralph Fiske of Nova Scotia announced that agreement in Prin Ciple has been reached with h. B. Nickerson Ltd. Of North Syd Ney to reactivate the fish plants at Canso and Mulgrave formerly operated by Acadia fisheries Ltd. The plants employed 500 until the company went out of business last summer. Up hotels and Halifax developments Ltd. Announced 5lans for a million luxury Lotel in Halifax employing 500 during construction starting in november and 275 when it opens in 1973. I employment a t Halifax shipyards Ltd. Will reach a Price pay Board members meet As news brightens economic forces Combine to re establish Industry. He blamed recent mine closings in the area on a Lack of foresight on the part of the owners but predicted that the James Bay Power project will contribute to re industrialization. A Cross Canada Survey by although some would be re More than workers of Post War High of Lext year when Early construction trained to operate the weekly. Abi Tibi paper co. Ltd. At to _ Quoin Falls and another 130 at a there were no new major and steel layoffs in the Atlantic prov co Ltd mine at inces but the announced Layoff of 350 at the boaters Newfoundland Ltd. Paper Mill at Corner Brook was delayed at dec. 31. It was Origi Nally scheduled for nov. 1. , the chem cell Plant at Montmagny started a gradual Layoff of 400 employees Early the Canadian press showed these major Job loss decisions during october International Nickel co. Of Canada Ltd., the non communist world s largest Nickel producer Friday announced a 15-per-cent Cut in production in addition to an earlier Cut of seven per cent. The company said the net effect on employ ment of these cuts and other related moves will be a reduction of about jobs. Another in october. The company announced in june that it would close the Plant. Two Forest product Mills at Mont Laurier remain closed leaving 150 men out. Of work since july. Bickering continued Between the government and possible new operators. Price co. Announced that its Alma newsprint Plant will close for 10 Days starting dec. 24 affecting 800 workers. Union officials predicted a revolt if the Plant closes. And recalled that workers occupied the Price Plant for 15 Days in july to pro test a halt in production. Sno Jet Ltd. Of Thetford mines announced that 60 employees will be Laid off at the end of november for an indefinite Lake Sfart strike by trans. Por tation and communications workers in Northern Ontario. Cosmos Imperial Mills closed its Plant at Ajax thursday Leav ing 125 out of work. A company spokesman said the decision was made because of Low productivity and High costs. In Windsor Union officials say workers in the building trades and Auto Industry Are bearing the Brunt of a business slump. They say construction workers have no jobs and Auto Union members have been Laid off. An Auto Union official says 11 plants have been closed Down or moved out of the City during the last years five in the last year. On the Prairies 25 were Laid off at the Goodyear Plant at Medicine hat alta., and 10 were Laid off at the Manitoba distillery in Minnedosa Man. In British Columbia the co Lumbia cellulose co. Announced that two of its pulp Mills will starts on another offshore Oil drilling Rig. The Yard now employs about the subsidiary of Chica go corporation will Start manufacturing electrical appliances at Stellarton employing 100 when production starts Jan. 3 and increasing to about 250 in a year. By Carole Martin new York a _ the men and women who will Over see prices and wages after the 90-Day freeze began work Las week As the United state reported its first foreign Trade surplus in six months and Cor pirate profits showed a Genera resurgence. With the pay Board and Price commission holding its first formal sessions there was speculation in Washington tha wage boosts in phase ii would be permitted in the five to seven percent Range and Price increases in the two to three per cent Range. Otherwise guidelines were expected to be flexible. Commerce Secretary Maurice h. Stans said that allowing retroactive wage increases after the end of the wage Price freeze would be highly damaging to business. However he Emp a close nov. 1 for three weeks. Union officials said about 450 consolidated Bathurst can celled plans for a two week of its Mil at Bath urst n.b., which was due in november. It would have affected 800 workers. S y 1 v e x inc. Announced plans for a million Woods production Plant at Dolbeau que., with production starting in february with employment for 100. Dupont of Canada announced expansion of a Plant at North Bay ont., which will give additional employment for 40 when the Job is completed in 1973. Industry minister Gerard Levesque told the Quebec Legisla Ture that a new Iron Ore co. Of Canada Ltd. Development at sept lies will create 800 new jobs and employ during construction. The opposition questioned the figures. The Raynier. Pulp Mill at Wood Fibre b.c., re opened oct. 12 after a three week closure sized that the decision on whether deferred pay increases should be whether workers should get the withheld wages up to the pay Board. Stans made his remarks in a closed circuit television discus Sion of phase ii of the administration s economic policy. The discussion was viewed by businessmen in 26 cities who also heard president Nixon forecast Victory Over inflation in phase Iii of his economic program. Meanwhile the Commerce department announced that exports outpaced imports in sep tember leaving the United states million ahead for the month. The Trade figures which Are adjusted for seasonal variations showed that exports reached million in sep tember the highest in history while imports reached a record million. An administration analyst said president Nixon s new eco nomic program had not shown its effects last month and were not a significant Factor in the turnaround. Record Levels in both imports and exports was attributed to increased shipping in anticipation of the East coast and Gulf of Mexico Dock strike. In another development the Federal government dropped plans to require merchants by nov. 1 to provide customers who request it with lists of maximum prices that could be charged under the 90-Day freeze. Businessmen had complained to administration officials and o n g r e s s that such records would be too cumbersome and of expensive. Consumer spokesmen wanted the lists to per Mit immediate spot checks for freeze violators and said that without them any enforcement Effort would be weakened. Third Quarter earnings reports from the biggest . Busin esses were generally bullish this week. Sharply higher net was reported by the big three automakers and a Survey of 632 non financial corporations showed profits in the latest Quarter were up eight per cent Over last year. One of the dark spots in the profit picture was in the steel Industry where sales skidded As customers worked off inventories they accumulated in Antici pation of a strike aug. 1. The strike was averted at the last minute. New insurance policies being launched during which 200 were without work. W. German Economy faces double danger by Bokis Del Price co. Earnings plunge Montreal up Price and paper products cont cd i co. Ltd. Reports net earnings of rough oat the first sine of is71 compared Wai necessitated extensive Seffl for Sawe period a Shad owns Fps upward Iredia rates safer exist alter for preferred Webor you tracts no Harft prompts before taxes in so Ings per Fesi my were Fawi Eaf Fistos 35 in suced j5 a fee the Fht Ytit tote soft of 3 Bonn special owns West Germany the most powerful Industrial country of Western Europe is haunted today by the double threat of inflation end eco nomic stagnation. With the Cost of living 5.9 per cent higher in sep tember than 12 months ago Germany is experiencing its steepest Price increases for 20 years. At the same time Industry reports a marked decline in orders which has already led to Short time work in 114 factories. Compared with other West european countries where inflationary pressures Are far More intense West Ger Many s Economy is still in a flourishing state. However having become accustomed to their prolonged Boom and relative Price stability in the late 1960s, West germans Are now reacting More nervously than other europeans to world wide economic ten Sion. Moreover the German mentality remains profoundly marked by the inflation and mass unemployment which plunged the country into ruin Between the two world wars. Today the Fate of Ger m a n y s first socialist led government in 40 years rests largely on its ability to Ward off a recession and at the same time restore Price stability. Clearly professor Karl Schiller the Brash eco nomic affairs minister mis calculated badly when be made it his target last year to bring Down Price in creases to 3.8 per cent in 1971. He also erred with his As sumption that the Deutsche Mark revaluation two years ago and the floating of the West German currency this Spring would help the country to regain Price stability. Today professor senber is far less optimistic than in the past we Sham not soc Tomb to the if Crown that we can regain Price Sta Twity is the real sense of die word from one Day to the face says. Of or tying sols or. So Ferber s derision to float Delft Mcfee Focas so far a Hussy 1st s expert irs3s Iris fest tip Price 10 per cent revaluation of the Deutsche Mark in rela Tion to the Dollar and an average revaluation of 7 per cent in relation to other currencies Are unrealistic and harmful to the Economy. The Deutsche Mark has become so overvalued it is generally said in business circles that the country s Prosperity could become seriously endangered. The first ominous signs of Slac Kening Industrial activity Are causing growing apprehension Here. By the end of this year 73 factories employing workers will have closed Down. Seventy seven thousand workers Are on Short time and face dismissal. In july and August West German Industry registered a 3 per cent decline in orders Over the preceding two months period. Officials Are Adamant that the country need not become alarmed at this stage but Al ready parallels Are being drawn with the 1966-67 recession when workers found themselves on Short time during the autumn months. And Hie Central Bank has issued a warning that full employment might become really threatened next year unless present trends Are reversed. H is the steel Industry which has been particularly affected by the economic slowdown. Already steel production has declined 10 per cent Over 1s70 and company executives fear an even More dramatic drop this Winter. Plagued by the fear of unemployment now that overtime has been banned and the first few Hundred men have been dismissed. Ruhr steelworkers the other Day staged their first protest March against the employ ers Economy measures. Increasingly Many West German industrialists Are looking towards the East a the Hope that orders from the win beet Jse one of new Stia Slaats for the West Ger Eoo emmy. Oast fee unexpected Crimea Between sad we so Witt party Leader Sal although German soviet Trade has doubled within the last seven years Russia still accounts for Only 4.3 per cent of West Germany total exports. Berthold Beitz the chairman of Krupp s Board of directors and one of West Germany s top East Ern experts is convinced that Trade with the soviet Union can be doubled. During a visit to the soviet Union this summer he found Premier Alexei Kosygin far More interested in economic co operation than in the past. Rather than buy finished products the russians would like to Purchase Indus trial equipment in West Ger Many and launch their own production. Or. Beitz and other leading West German industrialists who accompanied him to Moscow came with the impression that the russians were particularly interested in capital goods to develop their chem ical and consumer Indus ies. As in the past payment remains a Maior obstacle to intensified Trade Between the two countries. This time the soviets urged the West Ger mans to accept the products of the factories installed by them As payment for the machinery. Among the projects under discussion Are a 50 million Deutsche Mark synthetic Fibre Plant to be built by Kropp near mogilev in White Russia and a factory which would torn out diesel engines under West German licence. For the moment German industrialists realize foreign Trade is the marginal significance for the soviet Union. Stin they Are convinced that combination of soviet labor resources and German technical know flow provides one of the Best Hopes for Germany s industries i years to come. They have visions of German products Mararac furred by russians and jointly marketed in outer cd Bines. Bertz him self maintains that it been far wore Atiram a goes for West Gera any to accounting body seeks link Lancaster England up for the first time an attempt has been made to link the theory of accountancy with the practical balance Sheet with the foundation of the International Centre for research in account ing at Lancaster University. With distinguished International representatives from Commerce and the academic world on its staff and strongly backed by Industry the Centre has four major topics for study. Important among them is it attacks a bal Ance Sheet and what to do about it. Not confined to British problems the subject is approached from an International Angle. The Centre will also scrutinize i accounting methods in common j Market countries. This project also anticipates and Hopes to solve accountancy problems that May arise on Britain s into the Community. Another subject earmarked for research will be the accounting methods of the groups the conglomerates and Multi National companies. The Centre is also to look into com Pany reports pinpointing the needs of the users and defining the principles involved. General principles behind the formation of the Centre Are to build a Bridge Between theory and practice in accountancy to develop research and to bring together accounting workers in an Fields academic manage ment local and Central govern ment and finance. A series of new policies linked with common Stock funds is being introduced by the Imperial life Assur Ance company of Canada it was announced by Winnipeg Branch manager Walter Kamineski. A major portion of the policyholders monthly de posits goes into either the Imp co growth fund or the Imp co retirement growth fund. Both funds arc invested in stocks primarily of Canad an corporations and have significantly outperformed most Mutual and Trust com Pany funds plus the Toronto Stock Exchange Industrial Index since they became available in 1969. Known As Imp co equity endowments the new plans have an insurance feature guaranteeing at maturity the full return of All the Money invested in the fund. This is the minimum amount that will be paid no matter what happens to the investment Market the actual amount is sex newsprint Price hike delayed petted to be greater de pending on the value of the units standing to tee policy Holder s credit in the fund at the end of the savings period he selects. If he should die before the maturity Date his Benefi Ciary is guaranteed the total amount the policy Holder intended to invest not just the amount he had invested. If the value of the units in the fund at death plus the investment amounts he would have saved after the Date of death is greater then this higher amount will be paid. Under the Imp co equity retirement endowment the plan owner May invest up to a year and obtain tax easement depending on his employment status. A study made of the published results of 75 of the largest Canadian Mutu Al and Trust company funds Over in size for which records Are available to 1969, shows that the Imp co retirement growth fund and the Imp co growth fund rank fourth and fifth respectively in performance with 9.2 per cent and 8 per cent gains in the period ending August income rises Montreal up Consoli dated Bathurst Ltd. Said Friday it will delay until nov. 15 the implementation of an s8-a-ton newsprint Price increase in Canada. The increase was scheduled to go into effect nov. 1, the same time that a number of Canadian newsprint producers had planned to raise the news print Price in the United states. However president Nixon s freeze on Price increases has forced the newsprint companies to delay indefinitely the implementation of the higher prices in the . The current Price of news print delivered in new York is the previous increase of a ton went into effect last april a although it had been i j scheduled to take place last 1 Jan. 1. Macmillan Bloodw let Tecl notice of dividend no Hob Meetra of the Board of directors held on the 27th october. 1971, a dividend of fifteen Etta 151 per share was declared payable on the issued Ordinary Sham of the company in Canadian funds on the lath december 1971, to share Hohrn of record at the close of by Anent on the 15th november 1971, and to holders of Ordinary share warrants. Said dividend will be paid at Par in respect of the Ordinary specified in any bearer share warrant of the company upon nmn Tatum and delivery of coup i no. Hob on or after the loth december 1971, at any Branch of the of Montreal a Canada or at the offices of Agency. Bank of Montreal new York or Bank of Montreal san so Francisco or at the first National Chicago Chicago. By order of the Board f. H. Brittoh. Own tar. Vancouver British Colombia eats 35 cents . 2ith october 1s71 nov. 24, record nov. S. Toronto up in Ter provincial pipe line co. Announced that the company s consolidated net income for the first nine months of 1971 amounted to Mileon equivalent to s1.02 a share compared j with million equal to 85 cents a share m the same per to i pert a quarterly i round of 22 cents a share payable dec. I to shareholders of record Lvov. 8 was declared deliveries of erode of Aad natural Gas braids averaged barrels a Day Darreg the period a Day is period Fere the Gnu Fri for a tense to of i wives Fara Trade i to Kay 23, Reed Shaw Osler limited incorporated wider the Laws of Canada notice to shareholders is hereby Given pursuant to the Canada corporations act thai the Board of directors of this company has november As the record Date for the deter Wasion of the persons in wed to vote at the anneal meeting of shareholders of the comply to be head on november and accordingly the persons a noted to Send and Vcoe is the Roe eang or a be represented by proxy West be legs feed shareholders of record close of bos mess on a Cioe of no fing

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