Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 19, 1968, Winnipeg, Manitoba Winnipeg free february 1968 business seminar planned the problem of improving communications be tween technically oriented business employees and company management will be the theme of a today seminar on project costing to be held in february sponsored by the Manitoba Institute of manage the course will show systems an and others in no financial How to effectively present proposals to business manage ment in terms they understand dollars and the seminar will demonstrate How time and Money can be saved when technical personnel can communicate in financial terms with the seminar Leader will be Eric divisional workrooms manager of the Eaton company limited in import Border tax new York do a High Treasury official indicated that the has an open mind on whether it would be desirable to impose a Border tax on imports in View of the fact that a similar taxation system is currently used by european in a talk before the National Industrial Confer ence Boardl assistant Treasury Secretary Stanley Surrey said in reference to a Border tax on surely a better answer can be found than that the rest of the to protect its Trade must emulate the europeans and their Domestic tax economic gains Frankfurt do Deutsche Bundesbank the recovery of the West German Economy from last years recession is gaining in its january monthly report the Central Bank said the Rise in West Germany real National especially in Industrial production during the last Quarter of made up for declines in the mid1986 to mid1967 recession the Bank that Industry Hast returned to its pre recession capacity level and that West Germany labor potential int fully deployed didst agree Ottawa up Canadian government officials did not agree to a reduction in the level of crude shipments to the United states this year in return for the Extension of the inter provincial Oil pipeline to according to Energy minister or replied certainly not in the commons when this was posed by Eldon Wolliams pc Bow Pepin told Douglas Harkness pc Calgary inquiring about the reduced imports for the first half of announced by Interior Secretary that Export performance would not be judge on the basis of Only six to Honor mayor Drapeau Victoria up a world organization of marketing executives will Honor Jean Drappeau at a Mexico City Congress in the mayor of Montreal will be named business Man of the year by the Congress of sales and marketing executives International association in recognition of his Success at organizing and promoting expo mayor Drapeau was nominated by the Victoria Branch of the sales and marketing executives apparently without opposition by any other it is a privilege and Honor for us to have our nomination said Victoria president nor Man Here was a Man who had done a tremendous Job for Canada and we thought he should be recognized for his highest interest rate Regina up Saskatchewan savings Bonds this year will have the highest interest rate in their provincial treasurer Steuart announced Steuart announced in the legislature the eight series of Saskatchewan savings Bonds will go on Sale 26 and will have interest rates ranging from 5y2 to 6 per an average of per cent Over the 10year term of the As with past the Bonds May be purchased by any individual who resides in the by any corporation with a Saskatchewan or by any Saskatchewan the limit for any one pure laser will be agrees to Purchase Toronto do Maple Leaf Mills says it has agreed to Purchase for several million Dol Lars the agricultural products division of Quaker Oats of Canada the Purchase includes two feed a processing a dehydrating a and a number of other Quaker Oats of Canada is a wholly owned subsidiary of Quaker Oats of the United reaches record the american Stock Exchange reports the median ratio for Exchange traded common stocks reached a record in up from the Price earnings one of three indicators in the exchanges Market Index is compiled monthly As a Means of indicating the Price Levels of All common stocks on the Exchange relative to their corporate the 10 to 15 times earnings group again was the largest single Price earnings category with 179 Down 18 from stocks of 159 companies were Selling at 15 to 20 times up 13 from december stocks of 108 companies were Sel Ling at 20 to 25 times up 6 from december and stocks of 53 companies were Selling at 5 to 10 times Down 26 from there was one Stock Selling at under 5 times the median Price earnings ratio opened 1967 at a Intel l in its Low Point for the and climbed to in the ratios for october and november were somewhat lower at and but in december the indicator reached a 1967 High of Pickering switchgear contract let three contracts which in total comprise one of the largest groups of switchgear supplied for a single Power project in North America have been awarded to Ite circuit breaker Canada limited by Ontario included in the which total approximately is All the medium and Low voltage switchgear for which will be Canadas largest nuclear Sta Tion when the equipment will be produced by Ite circuit breaker Canada limited at its Eastern Power devices division in port Pickering which is due to go on the line in will have a capacity of More than kilowatts or equal to the needs of about it is one of the largest nuclear stations under construction in North America technical advances in Sta Tion design Promise Power at a Cost that will be equal to or less than the Supply from Coa fired plants now used to supplement Hydro electric Power generated by Ontario the first 232ton fuel Load in pick rings twin reactors will have Energy equivalent to tons of jumbo jets May help boost sales to Boeing by Jack Morris up the bulb nosed jumbo Jet May Jive Canadian firms a Multi million Dollar Chance to perk up slumping sales to the Boeing the big United states aircraft manufacturer expects to sell Worth of its 747 jumbo jets within the next four Boeing says the plane will Lave some Canadian but How much in Dollar terms is not yet some acadian businessmen have men beating a Small path to beings head office Here seek no a slice of he company will spend on prime and some of them Are hoping their sales pitch will ring louder now that Boeing has got into the Ca Nadian Market in a Large Way or the first time in Boeing already has orders and indications for about Worth of aircraft for Ca Nadian sales by Canadian firms to Boeing have hit a slump recent they had been about annually since 1959 and in 1966 hit a postwar Peak of in the first half of How they fell to about on third the 1966 current Boeing passenger jets jumbo will be flown late this year and delivered to the airlines starting next Tain Canadian components that Range from Small valves to portions of the main land tag All of the prime contracts for the Multi decked jumbo have been let to Ameri can firms but there is still room left for says work on the initial 200plane jumbo production could be just a foot in the Boeing says it Hopes to sell an additional 200 jumbos o r t h another after initial Ord ers Are filled by the Seattle based company already has firm orders for 144 air Canada is seeking govern ment approval to buy about four jumbo while privately expects stumbling Block a winning Canadian parliamentary approval appears to be the chief stumbling Block to a Possi ble move by Union Mutual life insurance to create a Cana Dian the company president said its too Early to say How our chances said Carleton to operate a Canad wide insurance the company must first obtain a special Char Ter from the Canadian Parlia Lane some members of Parlia he Are opposed to granting the Charters to nonce Nadian business while others Are opposed on principle to the whole idea of special Lane told the annual meeting his company is studying the possibility of creating the subsidiary to further increase the sizable insurance business the company now does in can owned chadian Pacific air lines has decided to skip the jumbo and wait four More years for beings glamorous or supersonic trans spa has placed preliminary orders for three of the Milea hour titanium skinned an Assembly Plant for the jumbo jets has been built at eve about 30 Miles North of Seattle and about 100 Miles South of Vancouver and the Canadian there is no reason Why Ca Nadian firms cant Widen their participation provided they Are says a Boeing beings Canadian Blue a guide for Canadian firms seeking to sell to the aircraft shows Boeing spent in Canada for cents from 1959 to the first half of Boeing also maintains a list of approved suppliers those with sufficient financial and technical resources to handle component since Boeing has Pur chased aircraft parts from firms in to fort Vancouver and Barley for beef As Well As Beer Canadian Farmers should be just As concerned with producing a Good Barley for feed Grain As they Are with growing one for the Beer the president of the Winnipeg Grain Exchange said saturday most of the world is Short of said Mcwilliam in an address to the College Royal fair at the University of sask at i know of no single country Short of Barley Breeding in can Ada seems to be keyed to the ability to sell a Carload of malting Barley at five cents a Bushel Over the Market Mcwilliam but the malting and brewing industries used Only 10 per cent of the total while Barley was the Best Prairie feed particularly for beef it is inconceivable to me As to the Good judgment of exporting our feeder cattle in the fall and importing fat cattle to meet our Domestic when feed grata in the form of Western Oats and Barley and Ontario Corn glut our elevator said it is also interesting to note that the United our closest is an importer o f pounds of dressed meat and we Supply basically none of this huge it is also interesting to note that the United states expects a population growth of an additional people by the year will we be in a position to Supply it Canadian Farmers must take a More Active part in forces with those in Market if they Are to develop a sound agricultural Mcwilliam he said producers should give greater thought to growing grains of the variety overseas customers present varieties might be suitable for Canadian con but do they meet the requirements of the the chinese and other overseas buyers who might not bake bread with 1 Northern asked cereals Are traded on commodity markets by Al most every such items As Sor Millet and Cit Mcwilliam rus pulp were common substitutes for cereals can Ada had for and influenced Canadian he Canadian producers Are in Competition with All producing areas of the world and their products have to be in the form desired by the customer the Quality preferred and at the Price customers were willing to said Mcwilliam said can Adian if they want to diversify production and obtain secondary should pay More attention to beef the Grain Exchange plans to establish a special pit later this year for trading in live beef if the livestock Industry indicates it wants such a the Exchange says the same now working in the United gives a producer a locked in profit because he is Able to hedge disastrous Price sales record Montreal up Robert Morse corp reports consolidated sales for 1967 set a record for the seventh consecutive despite a slowing up of certain sectors in the Cana Dian consolidated Saks for 1967 to talled As compared with to after providing for preferred earnings per class a and b share were and respectively As compared with and per share in John Meyer says will Bank be satisfied with holding action it would Cost an american Points or so to Swap his dollars into Canadian Short term the yield from Canadian paper is not yet High enough to profitably offset this either the spread Between spot arid Forward rates of Exchange must be narrowed or interest rates must be raised higher still before american funds Are attracted Back into the Market the prospects for the former at this enc our it looks As if interest rates must be raised instead of the Centra Bank will be satisfied a holding a substantial increase in Canadian borrowing in the United states might Hepnar Row the spread in Exchange rates but corporate borrowers at have still to be convinced the Canadian Dollar wont be devalued during the term of the thereby increasing interest and repay ment Only million had been done by canadians in new York to Montrea has since done million but like the prior had been set in motion prior to the run on the All of the borrowing so far this year has been by governments or govern ment a major Export Deal would help too say another Large wheat contract but nothing o this nature appears in the immediate the fall in the Stock Market May discourage some Canadian investors who were moving into the Market and this would be an advantage but Canadian funds already in that Market Arent Likely to be brought in the the effect of Selling the Cana Dian Dollar Short and the efforts of importers to cover future commitments will continue to keep the american Dollar at a Premium in the Forward Mark the is whether the Central Bank will continue to push up interest rates if How much there cant be too much scope for a further increase the Economy is mov ing slowly enough As it is and if the availability of funds continues to be reduced and their Cost continues to All Forward movement will be stopped Alto will the government be prepared to tolerate the Rise in unemployment which would Fol Low it would appear not when it is prepared to push ahead with Blank in Ottawa the government still Hast recognized the extent to which what Confidence remaining in the Canadian Dollar would be eroded by implementing Gram for further welfare expenditures at this it wont matter that the Cost of the program is to be covered by additional that with Only one or two provinces participating in it the Cost at the Start will be relatively what will to Canadas Distad is that when All efforts should be towards reducing the government will be on the opposite is there in any understanding at All of the uncertainties to which the world Nis iness Community is any understanding at All of Canadas vulnerability to those labor dispute blamed for loss Vancouver up a loss of in a forecast of further losses to come have Een announced by Columbia cellulose the firm operates two Large pulp Mills in the Prince Rupert area the loss compared with a profit of in sales dropped to from in George presi Dent and chief executive blamed a labor lengthy Startup of its Skeena Kraft Riding costs and worldwide scrimshaw forecast an other loss in 1968 in spite of anticipated higher rates of production for Columbia cell Ose and Skeena Kraft he that there Vas a Good future for the company based on the results of newly instituted programs of Cost reduction and organization Al uncertainties is that run on Thor Canadian Dollar to be dismissed As simply a million the amount of reserves loss misunderstanding it was so much More than it most of an indictment of the state of the Canadian its your business cant the government recognize this How much closer to the Brink must Economy move before it does great s a t i s f a c t i o n is expressed that the estimates for the coming rear Are within the limits earlier set but of Are oily the preliminary what of supplementary estimates which May be introduced at a later Date in any the Esti mates represent rather More savings from the deferral of unstated programs than they do savings in current of the billion thinned out of the Only about million was represented by the what is wanted is some indication from Ottawa that it is aware of the forces now at that it is prepared to do what it can to contain failing the Central Bank has no Choice but assume the Burden of government India it seems to so played its role by May have As did that the 7 per cent rate was temporary but funds Are overcrowded Large or Small offices available for rental at reason Able renovations and air conditioning to tenants re apply Lindale agencies 301 Lindsay we 26187 not coming Back into will it feel compelled to take More vigorous raise interest rates another of will it confine itself Toa simple holding action that now the key Meyer is financial editor of the Montreal Gazette his Olurin regularly in the free custom made he pieces Proi Stilt you cannot afford of be Bald if our Low prices Garreau of Paris we 22650 8881801 277 i founders acceptance corporation limited common shares dividend notice notice is hereby Given that a dividend of six cents 6c per share on the outstanding common shares of the company has been declared payable april to shareholders of record As at the close of business on March by order of the Saunders Manitoba february George Weston limited dividend notice notice is hereby that quarterly dividend of per share on outstanding class a and class b declared by the directors of George Weston limited payable april to the shareholders of record at the close of business on March by order of the assistant Deorge Veston suite 130025 King Toronto How to reduce your income tax available at per this new guide features More than 25 ways to reduce per Sonal and income and is must Reading for every order from tax Box Sta Tion Corbett motors announcement Ken Peters general sales manager of Corbett motors is pleased to announce the appointment of Ken Peters As sales repro Peters brings with him Many years of experience in Volkswagen sales and he welcomes All his friends and customers to visit him at the for rent Square first class office space on main thoroughfare in James close to Polo private Street Entrance and accounting practice wanted v Young chartered accountants Purchase a practice in the Winnipeg they Are prepared to negotiate retirement arrangement with a practitioner contemplating reply to Box free press Salesman wanted age 25 30 knowledge of Industrial rubber Hose and Hydraulic equipment full company excellent Opportunity for the right apply Box 1333 free press he Walter cordon society of Industrial accountants of Manitoba Winnipeg chapter dinner meeting february fort Garry hotel guest the Walter Gordon president of privy Council reception dinner a question period will follow the speakers address tickets each Reserve now for phone 9430511 ;