Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 12, 1968, Winnipeg, Manitoba Winnipeg free press february 1968 business abandon Well Victoria up Shell Canadas third offshore Well had been abandoned 25 Miles Southwest of Tofino and preparations Are being made to Start a fourth test Hole further production manager of said that nothing significant was encountered Dur ing the drilling of Shell Anglo zeus to a depth of feet deepest of the three Wells to the company was asked whether any showing suggestive of Gas or liquid Petroleum had been encountered in the third consistent with the Gas shows in prometheus and the reply was nothing loses again weekly metals Toronto mortgage of Canadas perennial dissident shareholder George Fallis lost out again this year in an attempt to have the company annual meeting who objection to the presentation of the annual report As he has at past annual also sought the setup of a share Holder committee to probe the company affairs particularly its mortgage this formed part of his motion to adjourn and was simultaneously Defeated on a want probe Washington do a National labor Leader called for a Federal investigation of corporate mergers and said labor May have to form conglomerate unions to Deal with the resulting huge Corpora Jack direct oof the of Lucios Industrial Union department it May Well be that the antitrust Laws Are inadequate to Deal with the kinds of problems we have fins prices hiked Montreal do Texaco Canada said it has increased its gasoline prices to commercial Consumers by of a cent a gallon in certain parts of including the Toronto the increase Doest affect the company prices to serv ice station dealers for which adjustments Are still under review Texaco the company said it has also increased the Price of diesel fuel by a gallon and stove and Furnace Oil by to one cent a gallon in most of the same Texaco attributed the increases to steadily 7 seek approval Vancouver up the British Columbia Telephone company announced it has applied to the Federal government for approval of a Issue of cumulative redeemable preferred Stock at a Par value of a the company said it expects the railway trans port committee of the Canadian transport commis which regulates will hear the application next after approval by shareholders and the commit the shares will probably be offered late in the company proceeds from the Issue will be used to reduce temporary Loans incurred for expansion and improvement of the company last capital Stock Issue was in when was raised through an offering of Ordinary shares on a basis of one for each eight Ordinary shares new Calumet mines Montreal do new Calumet mines May invest in mines with established reserves in France and Australia before carrying out exploration in Canada to replace the Calumet Lead Zinc mine which was placed on a Salvage basis last Cunningham Dunlop told the annual he said new Calumet has an Opportunity to participate in a French Gold mine which currently has monthly operating profits of the company will also study joining a partner ship to open Gold mines in Central France originally explored by the Cunningham Dunlop another possibility is participation in an austra Lian property where reserves of tons of Ore grading per cent to five per cent Copper have been indicated he Oil Polley sought Calgary up expansion of crude Oil markets As Well As pipeline facilities in the United states East of the Rockies has been advocated in a new National Oil policy proposal by the Calgary chamber of the presented by chair Man of the Chambers Petroleum and natural Gas will be submitted for further support to the Canadian chamber of the report said that Canadian Oil Fields work at less than 50 per cent capacity and that some Canad an Gas Fields Are not being exploited despite Short Ages of Fossil fuels in various regions of the the report further stated that Industry must plan and provide the necessary facilities for trans porting Canadian crude Oil and natural Gas with proper regard to production and Market to attain this efforts must be made by both the and the report the report rejected recommendations of the Carter commission on tax changes As they would affect the Oil a Strong Petroleum Industry is essential to meet the growing Continental hydrocarbon fuel de and continuing tax incentives Are required to meet this the report review new York a the top two Copper producers re ported sharply lower earnings last week As the Copper strike j neared its seventh Kennicott Copper the top said its 1967 operating earnings declined to or a from or a in Phelps Dodge the 2 reported earnings of or a for compared with or a in others in the nonferrous met als Industry to report lower earnings included Anaconda american Metal and inspiration Consoli dated Copper no immediate end to the which began july was american Metal daily metals says spokesmen for the four largest Copper Phelps Anaconda and american smelting and refining no contract talks were taking place on key issues with their respective striking unions led by the United steel workers of thus the strike has businessmen put Back in harness caused an estimated production loss of tons of refined the loss on a weekly basis is estimated at and As a result of the was another round of increases for brass Mill there Price and wire Mill product prices the past prices Are trending upward in order to partially off set the High Cost of Copper raw materials obtained from non producer major metals prices Copper 38 cents a delivered foreign new Lead 14 cents a new York Zinc cents East Louis 14 new aluminium 25 cents a unalloyed Jde Liv Nickel 94 cents a electrolytic port col Silver an new York 193 sold for a ton the liberian freighter Evie shown tied up at a Montreal was sold at auction Friday for to meet num Erous liens against the vessel Hast moved since last fall when she arrived from the 25yearold ship has a cargo of plywood by Neil Louttit falters in Tanzania and a retired Cana Dian businessman Steps in to get it Bact in the Uganda fish Cannery wants to specialize in processing gourmet foods but needs technical again a retired Canadian businessman is on the scene to get things both men work with Ceso Canadian executive services overseas still in its embryonic is a federally assisted program to make Short term expertise assistance available to struggling industries in under or newly developing it is a Cousin to Canadian University services overseas Cuso and at present shares administrative facilities and some pesos budget Canadian markets Down but unemployment up by Ken Smith Canadian business editor at least two developments brought cheer last week to the economic other the news was Price of shares on the Toronto Stock follow ing the Lead of new fell manages to be cautiously opt precision in the forecasts is More than usually How because of the Many com plications which confront the it but it forecasts a Strong Economy during the next few with the prospects of and the climate in vestment longer run payments position would been handed by better Cost and Price the idea of a weak Canadian Economy faced with a fundamental problem of main Taining equilibrium in tie bal Ance of payments is not borne sharply with analysts putting j Wujek for it out by developments in the blame on fears about the in1 Ter National although references to Viet Nam and Korea highlighted most of the talk As prices the unsettled monetary situation remained a he Factor in keeping investors Toronto Market staged a slight rally late prices closed above their lows for the some analysts noted that the dominating events which had pushed values Down in the first place had nou there May be some buying i Canada of look for an Early upturn in capital investment if a Strong and viable recovery is to be costs and j recent speculation against the Canadian Dollar has failed to recognize these Basic devel business because creditors appoint new trustee Toronto up creditors of Harry bankrupt former Toronto have voted for the appoint ment of of Currie and to As trustee of wag mans Whitehead replaces Joseph who was appointed trustee in january when the bankruptcy assignment was prices Are so bit of a technical Cor theres a said one but the Market As a whole its the kind that makes a Stock Salesman stay out for two lunch Ottawa reported that unemployment Rose in mid january to 61 per compared with per cent in december and the highest in al most four although the increase was de scribed As Normal for that time of it pushed unemployment to a level 20 per cent higher than a year the government has indicated that it does not expect unemployment to climb much More and even to Start settling Back a bit in the travel tax eyed by by Phil Thomas new York i and consumption at Iron and 1 steel plants in the United states Rehs Effort Anada were to whip the american balance of payments problems last week by proposing a travel tax on some tourists and temporarily Banning certain Stock purchases by overseas affiliates of Ameri can the travel As out lined by Treasury Secretary Henry Calls for a graduated travel tax on spending of More than a Day outside the Western it also Calls for a five percent Levy on overseas ship and plane slicing the duty free allowance Ion goods brought in from Over there have been warnings Alj s10 from and Cut that Many cold Ting the gift pr0vision lege students seeking summer jobs wont be Able to find and some economists Are be ginning to wonder what effect to is from Fowler estimated the Steps i would Cut balance pay wygmans liabilities totalled i this higher unemployment might 1 mens than have on consumer to in compared with tons in steel production last week in creased per cent Over the previous week to John a Deputy assistant defence said Small business Wil get nearly of the in defence contracts this fiscal the savings and loan league said the 200 leading Sav Ings and loan associations held of the total assets of the with the remaining spread Over about smaller for this year also under the canopy cuss Overall the idea was born from said executive Vic president of peachy was in Winnipeg to Contact potential volunteers for speaking at a press Confer peachy said Ceso is concentrating on african coun tries and he said Canada is the Only country which offers a the Hasan organization that with private industries in countries where there is american mainly Taiwan and South Africa has no private they have to be started by the this is where Ceso he said the often runs into difficulty in dealing with african countries this stems from racial difficulties at he at Ceso is looking for retiring executives willing to offer their services to the a retired vip president of Ern said Ceso is attempting to build up a Bank of such we pay the expenses and the organization or country needing the assistance j pays living he said Ceso is designed with a twofold objective to assist developing industries and countries and to give retired executives an Opportunity to use their skills and but Ceso will not be limited to retired men once it is fully peachy we have a Board of 100 these men Are senior people with Large we Hope that these and will eventually lend men to Ceso he said financial assistance is also expected from Canadian he said it costs about in fares alone to Send a Man and his wife to an african a Hundred requests would take quite a he said Tours of duty with Ceso Are six months or with the average expected to be about three to Date the organization has the names of about 250 Volun it also has More than 20 specific requests for peachy j Clifford former pres ident of Maple Leaf milling was the first Volunteer to do stint he to Tanzania to study the manage ment of thai country milling the Tanzania government a of Cepter Sowards recommend j Ceso a nerve Matching with qualified Howe appointment Cameron the appointment of Gordon Cameron As Secretary treasurer of the company has been announced by Howe Cameron is also in charge of the Central accounting Divi Sion at the company head office in port v automotive jobbing business this firm is More than ten years old operating a machine shop con has had excellent growth rate throughout its this business is located in Southern Bri Tish a potential purchaser should have at least fifty thousand to handle la pm press for further Par Portage and main prime space for lease Square feet Street level available May Petrie 9471537 Roberts from Law mostly forecasters who have been securities of undetermined predicting improvement in the were listed at health of the Canadian Economy was sentenced to two years in Penitentiary 16 for conspiring to defraud Val Ley farm and enterprises of reason Given for bankruptcy by Wagman was income tax assessments and pending Law suits which he was not in a position to the assignment is believed to be one of the largest personal bankruptcies in Cana Dian this year have pinned their Hopes on two he Jato Vlf a Tow pvt Abts til strength in exports and a Strong i about the proposal generally was criticized sharply by american and foreign travel Industry spokesmen As unfair and in consumer Dollar troubles in the United states already have made it Clear that exporting will be tougher this and any noticeable slackening in consumer spending could limit economic expansion in Canada this the Bank of Nova Scotia in a fresh Survey of the Canadian economic picture Toronto Market Stock prices mixed in Light trading Toronto up prices were mixed to fractionally Down in Light mid morning activity on the Toronto Stock Exchange interrupting last weeks Steep War scare Wall hit by a wave of Selling in the last two was closed today because of lincolns in the main Moore advanced 3i to Inco and Tran Canada pipe lanes i to and 27 and Dof Aseo 3s to Gold Issue Kerr which has made takeover bids on Normetal and dropped 1 to Normetal slipped 20 cents to and que Mont 15 cents to As trading resumed at opening today after it was halted Friday in the uranium Deli son was Down to 61 and Rio Algol is to among Western Canadian Homestead picked up 30 cents to and Banff to place Gas declined 23 cents to on industrials were off to golds to and base metals to Western oils gained to volume by 11 was 000 shares compared with 000 at the same time advances Aud declines were later in the the Federal Reserve Board placed a temporary ban on Stock Pur chases or other equities invest ments in corporations of West Ern Europe by overseas Affili ates of american the Board must give its approval before such affiliates can invest in a foreign the american unemployment rate dipped to per cent in the lowest level in al i most 15 the labor depart ment total employment hit in tile up from a year the department attributed the dip from decembers per cent largely to a greater Hanus Ual decline in the number of women seeking in one of the weeks Surprise Semon Knud sen was named president of Ford motor moved into tie Job after resign ing As an executive Vic Epresi Dent at general motors the 1 automaker Aud Fords chief the Auto Industry reported production this week at 903 compared with assemblies the previous week j and a year j american motors Mak i ing its first blacking showing Itsinie reported an operating profit of or 23 cents a for the three months ended the Commerce department reported new construction out lays in 1967 were 1 the american Iron Ore association said Iron Ore receipts from babies to the Jet set to older whatever the age Canadian foresters modern insurance planning can provide the Basic Security and Protection every modern family needs your Canadian foresters life insurance representative ideally in tune with the Hes thoroughly his approach the important role insurance can play in your fully trained and equipped with unto Date insurance plans tailor made to meet your personal needs and Call him soon and find out How Canadian foresters can provide peace find to Morrow and every next Canadian order of 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