Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 6, 1968, Winnipeg, Manitoba Winnipeg free press tuesday february 6, 1968 business wrap up. Conditions improve the improvement in mortgage conditions which traditionally occurs at the beginning of each year was evident n january an. Increased Supply of funds was reported in most areas across the country but interest rates edged higher following the increase in the Nha maximum rate to 8% per cent on january 2nd. Although Nha funds Are still Short in most areas a Good Supply for House Loans was reported in Peterborough Oshawa Sarnia Regina and Saska Toon. In Quebec City three Rivers Sherbrooke Montreal and London funds were available in Good Supply for rental projects. Nha interest rates vary across the country from 8% or cent to-.8% per cent. Reports from a number of areas indicate a differential in rates Between Home ownership and rental Loans with a highter rate being charged for the latter. Losing momentum dividend payments by Canadian companies this year while a Little better Are losing their 1967 momentum. Cumulative total of for first two months of 1968, As reported by j. R. Timmins and co. Are less than one per cent above in 1967 and Are 10 per cent ahead of for like 1966 period. February total of compares with and respectively in 1967 and 1966. Disbursements of by miscellaneous Indus trials this Mont compare with a year ago and in 1966. The reduction from 1967 mainly reflects dividend cuts by Canada Cement and Dom tar. Paying More Kamloops up ranchers in the Interior of British Columbia say they Are paying up a year More to ship cattle because of rail freight rate changes introduced late in 1966. Under the new rate structures introduced by Canadian Pacific and Canadian National railways cattlemen Are required to pay up to per hundredweight More for shipment of Light cattle than heavy cattle. Ron Pilling Secretary of the beef cattle growers association says he is hopeful the rates for shipping Light cattle will be reduced by 50 cents per Hundred weight. This would bring the rate More realistically in line with shipping heavy cattle he said. Who owes who Toronto up Jean Bedson of Paris president of Denison mines european Ltd., says negotiations Between himself and the company s Parent Denison mines Ltd., of Toronto concerning claims and counter claims of Are proceeding or an atmosphere of he said in a statement made Public in Toronto and Paris that his claims against the Parent company exceed those of the company against him but added he does not feel free to make a More detailed Public statement until negotiations Are at a More advanced stage. Or. Bedson was succeeded As a director of the Parent company at its annual meeting in Toronto Jan. 30 by Edward a. Merkle of new York president of Madison fund inc. Or. Bedson retained his Post As president of the european subsidiary. Stephen roman president of Denison mines told the annual meeting that Loans with interest to or. Bedson since 1964 total and Are payable not later than feb. 15, 1968. Or. Roman told the meeting the company directors disagreed with of. Bedson s claim that the company owed him Money. The company s annual report carries a note to consolidated financial statements saying a director had alleged the company owes him an unstated amount for remuneration due him it adds the company repudiated the allegation while claiming the sum of owing by or guaranteed by a director. The notes do not name the director. The Winnipeg Grain Exchange s flying another trial balloon Bis year in the Hopes of drum business and finance beef futures Market Grain Exchange object Ming up enough support launch Canada s Tures Market. Fast beef to fun indies although indexes at the Toronto Stock Exchange generally dropped golds gained almost 16 Points during january from 201. 67 to 217.58. Industrials dropped from 162.28 to 157.43 while base metals dropped three and a help Points from 106.56 to 102.91 Western oils Felt the biggest drop going from 218.52 at the first of the month to 203.35 at the end. Grain Market Canada Trust Huron and Erie .corp., year ended dec. 31 1967, 74 cents a share 1966, 73 cents. Are you age 22 to 30 with at least Grade Xii education we need two Young men immediately As counsellors on estate problems and the Canada pension plan. Remuneration up to per month to Start plus croup coverage and pension plan. This program offers Early opportunities for management. Call h. C. Fardy . The Imperial life 942-3351 for an appointment or 300, 360 Broadway with Complete details four indexes on the Montreal Stock Exchange lost ground during the month of january. Industrials dropped More than four and a half Points from 167.91 to 162.34. Utilities and Banks dropped Only slightly As they went from 134.18 to 130.90, and 124.83 to 123.31 respectively. Papers experienced the biggest drop going from 85.67 at the beginning of the month to 78.98 at the end of the month. ,1. E. Mcwilliams president of the Exchange says he plans o visit Eastern Canada Saskatchewan and Alberta to meet University and farm Organiza Ion officials to discuss the plan in says the Exchange is ready o enter toe business if producers and farm groups Are willing to support it. The Exchange toyed with toe Jeef futures concept once be fore but allowed it to lie Dor Mant until or. Mcwilliams re Vived interest when he became president late last year. He says the futures Market could be established later this expanded beef production is one of the. Keys to diversification of Canadian agriculture he says but because it is a live commodity that cannot be stored it is a hazardous under taking because of shifting prices. What we propose to do is establish a system which would ensure that toe primary producer and those who Market beef Are protected against serious Price changes. The same sys tem by helping to create an or Derly Market would protect Consumers from rapidly rising plans Call for tailoring toe Market after toe Chicago Exchange where head went in 1964 and about in 1967. Ken Singleton president of toe Manitoba Farmers Union told a new democratic party policy conference last month that toe party should take a stand against Gamble on foodstuffs. An example he cited was toe pro posed beef futures Market. Form of insurance but or. Mcwilliams describes toe futures form of insurance for producers against Price declines. Using futures trading the primary producers could deter mine months in Advance what they would get for beef and lock i profits in their he used a feedlot operator to illustrate toe Workings of toe Market. The operator would sell a futures contract when he buys his feeder cattle pledging delivery of a stated number of head at a specified Grade on a specific Date possibly four months hence. Should the Price drop by a hundredweight in toe interval toe operator would sell his cattle on toe Cash Market for cur rent Market Price. At toe same time he would buy Back his futures at s3 less than at what he sold them. As a result he d make up on the futures Market toe loss he took on toe Cash Market. The same principle would apply should prices skyrocket. That would mean toe operator would have his locked in profit but would not be Able to capital ize on toe unexpected surge in prices. Or. Mcwilliams says that while toe Rule of Supply and de Mand would still exist futures trading would provide Price stability while contributing to standardization and Quality control. Bulk of the limited Trade on toe Winnipeg Grain Exchange was shared by the oilseed commodities in Early action tuesday. Flax got the bigger share although prices were somewhat easier in response to lower linseed Oil prices in Europe and the Lack of an aggressive demand. It opened lower with May at 3.55v4. Rapeseed Trade was thin with Only March contracts open at 2.34, unchanged from monday s close. No Oats and Barley contracts were open and there was limited action in Rye prompted by toe Sale of 200 tons to Japan and by fairly steady prices in toe United states. It opened lower with May at Export loadings of Canadian wheat included bushels to Japan to Russia and a Small lot to Venezuela. Opening prices flax May lower 3.55v4 july lower oct. Not open. Rapeseed March unchanged 2.34 May and july not open. Oats May july and oct. Not open july and oct not open. Rye May lower equitable life reports biggest increase Waterloo ont. Up the equitable life insurance co. Of Canada recorded toe largest increase in its history when business in Force Jumpe by during 1967, the company s annual meeting a told Here. H. E. Power president sail total business in Force a while the net in crease in group life business was More than be interest rate earned was 6rl per cent. July is lower oct. Not pen. At mid session indications of Small Export interest in oilseed was the highlight of mid session trading. Japan was toe. Purchaser of Small lots of both rapeseed and lax As both commodities showed underlying firmness despite declines in european indeed Oil prices. There was Domestic feed interest in Oats and Barley and raders expect More Oats to be delivered As a result of a Toree quota increase on he Prairies. Japan was expected to be in toe Market for Joth Canadian wheat and Barley but no sales were reported. Rye was attracting some attention with prices firm to higher because of upturns on toe Chicago Market and the Sale of 200 tons to Japan monday. Mid session prices flax May is lower july v4 lower oct. Viz lower 3.38 it. Rapeseed mar. Unchanged 2.34b May unchanged 2.34vab july vib higher Oats May is lower july a lower oct not open. Barley May unchanged 1.27 july and oct. Not open. Rye May unchanged d july i higher 1.33 Esb oct. Not open Grain futures tuesday february. 6, 1968 open Winnipeg flax May 35j a july 355 a. Rapeseed March 234. Rye May july Chicago wheat March May june Corn March May 123v8-123, june 1mv4-14. Oats 76, Rye 120v2, soybeans March May june Minneapolis wheat May june 168ys sept. Winnipeg High Low my 355v2 355 355vza by 355vi 355 of or 234 my by my 95a by of my by of my by of 1327ab 132% Chicago a 148% my 151% 151% 151% jul 150h 149% 150 a be 1s3v4 152% 153v a 119 my Juse 128 or cd. 355% 355% 338% 234vbb 95 4nnt 127 12714 135% 1325ia. 135nnt 118% 123v4 122% 123 126v4 ,155% 125% 127% 127% Grain inspection a 76 a my 73% 73% Juse a my Juse a 274vi 273h 274va 277 a 27634 277 jul 278% 278% 278h a 277% 73% 71% 71 a 120% 153v4 118% 127% 76 71y2 71 120% 122w 125 cars inspected feb. 1, 68 this or. Last or. Wheat. 720 897 Oats. 22 22 Barley. 149 84 Eye. 5 17 flax 24 24 rapeseed. 57 59 others 2 12 grand total 979 1115 contract wheat 654 wheat Maju Minneapolis 278v2 277vi Ballet draws two thousand eight Hundred people attended the Royal Winnipeg Ballet s performance in Detroit last week even of Tough a newspaper strike there curtailed advertising of the event. The Ballet is on an eight week tour of the United states. John Meyer says Canad air contract offers new productivity approach Cash Grain Canadian industries Ltd., year ended dec. 31 1967, 70 cents a share 1966, s1.06. Monday february 5, 1968 Lakehead wheat Board prices . And class 2 close Prev. Cd. No. 1 Northern 191% no. 2 Northern no. 3 Northern no. 4 Northern 5 wheat 6 wheat feed wheat 1 am. Durum 2 am. Durum 3 am. Durum 4 am. Durum class ii open e no. 1 Northern no. 2 Northern no. 3 Northern no. 4 Northern 5 wheat 6 wheat feed wheat 1 am. Durum 2 am. Durum 3 am. Durum 4 am. Durum port 189% 185% 182% 179% 175% 206% 204% 200% 195% 191% 190% 189% 185% 182% 179% 175% -206% 204% 200% 195% 190% 169% 165% 182% 179% 175% 206% 204% 200% 191% 190% 189% 185% 182% 179% 175% 206% 204% 200% 195% 2 . Sex. 3 . 3 . Sex. 1 feed 1 feed. 2 feed 3 feed mixed feed mixed Grain 1 . 6 Row 2 . 6 Row 1 . 2 Row 2 . 2 Row 3 . 6 Row 3 . 2 Row 1 feed 2 feed 3 feed mixed Grain recital set the women s musical club will present a recital at . Feb. 12 in St. Mary s Academy. Taking part will be the winners of toe Centennial scholarship awards Arne wag Ner pianist Glen harder Bari tone and Phyllis wedding violist. The conventional methods for improving productivity piece work rates incentive bonuses of one sort or another have never been wholly satisfactory. The unions generally regard them with suspicion. Then too Quality tends to fall off As the volume of individual work is increased. When incentives Are paid to individuals the risk of friction Between the fast deft worker and the not so fast hot so deft is intensified to the detriment of Plant morale. Canad air Ltd. Has avoided All this by pegging a productivity Bonus to the Overall production of its shops. Canad air and Montreal air Craft Lodge 712 of toe International association of machinists and aerospace workers believe they have achieved a satisfactory break through in this area. They have signed a conventional contract providing for wage increases of 51 to 99 cents an hour. The productivity clause could add a maximum 12 cents an hour across the Board for hourly rated employees r e p resenting some 60 per cent of Canad air s work Force. The productivity Bonus will be paid twice a year just before summer vacation and just be fore Christmas. Canad air s plan originates in toe highly demanding require ments of aircraft construction. Thousands of components have to be scheduled for Assembly to a timetable which because the Large number of sequential and inter related operations has to be closely adhered to. A delay in the delivery of one component can hold up Hund reds of following operations Canad air calculates it can afford a lag of 10 per cent in delivery and Assembly beyond hat costs begin to overtake profits on toe. Finished product. What was wanted was an incentive to keep the Overall operation within this margin. Piecework a y m in t s might have stepped up the Speed of specific operations but this been meaningless it s your business in terms of the final product unless the Speed up was uni form something manifestly impossible to assure in so Complex a product. In any event there was no satisfactory method of rating the Many manual operations wiring electrical circuits to the specifications of Complex blueprints in the aircraft s ulterior As an instance that enter into aircraft production closing the Gap what Canad air has done in Stead is to rate actual production from month to month against scheduled production with the productivity Bonus paid in the extent to which the Gap Between the two is it has applied the productivity incentive to total shop production rather than the productivity of the individual workers or departments. Way it is hoped shop workers will be encouraged to a stronger sense of participation in the finished product. They will become it is hoped More schedule conscious the productivity Bonus will be paid from the savings to be realized in a reduction in the amount of work that has to be done Over again a reduction in. The time lost from late delivery of components and delayed completion of manual work. This is not a plan for the Speed up of production there in tas a Rule a Bonus to the company Tor beating Hather it is a plan for reducing slow Downs introduction. Com Pany and employees Benefit by it Over the longer term or the Extension of capacity and con sequent ability to take on additional orders. Application of the Canad air plan tto other industries is limited to those which like the aircraft Industry have a High labor Content and Are intensely demanding in the complexity of the finished product. The. Construction Industry is an example. The construction of a Large office building is one to two. Year undertaking in which a variety of operations excava Tion and foundation wiring and heating air conditioning and elevators placing of windows and laying of floors have All to be scheduled in a sequence which will put the building up and operating in the quickest time at the least Cost. A hitch in the scheduling a delay i the wiring which causes a delay in laying the floors or floors that be torn up so that the wiring can be installed can Cost the builder his profit. Again the operative consideration is hold ing to schedule and providing an incentive for doing so. That s what Canad air is doing provid ing a Bonus to hold to the schedule and doing it in a Way in which All. Production workers Benefit equally. Or. Meyer is financial editor of the Montreal his column appears regularly in the free press 92% 85v2 57 80v2 95v4 92v4 92v4 88 57 i 134 134 134 134 132 132 132 132 128 128 128 138 123v2 123% 121v2 118v2 113v2 113% Minneapolis Cash wheat . Funds Range Max. Feb. 2 . 1 dark nor. Spring 13% prot. 1 am. Durum local sales terminal stocks subject to confirmation Winnipeg Cash close medical sales the Man age 25 35. Preferably mar University training. Some sales experience. Ambitious willing to work hard. Good appearance. Ability to learn. The Job detailing doctors and dentists. Selling drug stores and hospitals. Excellent salary plus generous Bonus plan. All travelling expenses paid. Automobile supplied. Complete Benefit program. Continuous formal and Field training. Special preference will be Given to applicants with pharmaceutical sales experience. If the Job description appeals to you and you meet the require ments of the Man please reply in Confidence supplying com plete details of your age education experience and personal background to m. J. Kincaid District sales manager ayerst laboratories 1845 St. Matthews ave., Winnipeg 21, Manitoba phone 783-7368 Oats 2 . 92 92 sex. 3 . 92 92 3 . 2 92 sex. 1 feed 92 92 1 feed 9i a 912 feed 84 84 3 feed mixed feed 57 57 1 . 6 Row 125 125 2 . 6 Row .125 125 1 . 2 Row .125 125 2 cd. 2 Row 123v 123 a 3 . 6 Row .123 a 123 a i 3 . 2 Row 123 a 123w r feed .123 a 123vi 2 feed 121 a 3 feed la a "6 a 1 . 133 2 . 132v2 133 3 . 127% 128i . 113% 1uh i ergot. 1053i i track 131ve 1 . 3j8 349 2 .344 345 3 318 track .348 a 349 a rapeseed in store Vancouver no. 1 can 232 a 232% Royal Bank appointments a. J. Bates w. C. Bull g. R. The Royal Bank of Canada is pleased to announce the following appoint ments in its head office personnel department. These appointments Are part of the Bank s continuing shift in its organizational pattern or. A. J. Bates is appointed director personnel relations. of new Waterford n.s., or. Bates is a graduate of St. Francis Xavier University and Columbia University and joins the Bank with a Broad background of experience in personnel work with major Canadian corporations. He will provide direction and advice in All areas pertaining to the personnel function. Or. W. C. Bull is appointed supervisor compensation and organization planning. He will be responsible for the Bank s position evaluation and salary administration programs and for the continuing development of procedures and policies in these Fields. In addition to his duties within the personnel Burns h. C. Stewart d. C. Williamson department he will also Beav responsibilities connected with thei implementation of the Bank s organization plan. I or. La. R. Burns becomes supervisor management development and manpower planning. In his new position or. Burns will be responsible for the Bank s management development and staff training programs and will plan and co ordinate studies of existing and future manpower or. H. C. Stewart becomes supervisor employment in which position he will be responsible for policies and procedures with regard to selection and recruiting of new employees. Or. D. C. Williamson is appointed supervisor personnel Canada. In his new position he will co ordinate development and implementation of personnel policies and procedures in Canadian districts and provide Liaison with District personnel officers. I ;