Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 29, 1969, Winnipeg, Manitoba Winnipeg free press tuesday july 29. 1969 business finance new Brunswick Mimms from the liquor stores world going self serve Fredericton up buy ing liquor is becoming similar to grocery shopping in new Brunswick where the govern ment has started to install self service facilities in All its liquor pullets. Self service seems a More efficient and satisfactory method for All says a. Russell colpitts vice chair Man of the new Brunswick liquor control commission. We re very satisfied with it so far.1 four provincial outlets Edmundston Shediac Moncton and been converted to self service so far and or. Colpitts estimates the figure will reach roughly 15 by full conversion will take about two years. One of the Best features of self service is that it will Cli. Initiate tie and congestion and allow us better to serve the the Patron in a hurry can be in and out of the store with his Beer in about 20 seconds if lie wants or for the hostess who can t decide just what Shell serve her guests it will allow her to take All afternoon if she likes to make a decision. It also Means less work for i commission employees and to keep them gainfully pm j played the government has approved longer store hours. A recent order in Council Ives outlets permission to re i main open from 9 . To 9 . Racli weekday and from 9 . To o . Saturdays. Previous hours were 10 . To 7 . Monday through thu Rilay. 10 . To . Kri clan and 10 . To 5 . Satur Day. Kven longer hours could be in the offing although nothing is planned at the whether or nol the move will mean increased sales in t the i concern of the or. J colpitts says. It s just another i Way we feel we can better serve the. i the concept is slowly being adopted by other provinces but the Only one i d say is still ahead of us is b r i i i s h Columbia and Well have Ihm topped by the end of the he says the increased Cfficien-1 by of s e 1 f a e r vice shows through particularly in handling i and storing of Beer stocks. There s less Cost and less men and equipment one Man with a Fork lift can unload a transport truck of Beer in about 20 minutes and set it into our customer area. Before when we had Toj handle individual cases it took j four or five men Between two and four hours to do the approving self service for the province was nol an overnight decision. We were two years leading up to or. Colpitts adds. We re very enthused with the 1 Success of it so fur. We re not Only convinced it will work we re sure it will be far Superior to the old Over the counter City cracks new liquor Brand Royal Trust managed funds Iuni 30th, 1969, unit . A fund s15.2596 c fund. S1s.i6i5 m fund 9.6991 943-0431 Pembina pipe line Ltd. Dividend notice preferred shares Noftle is hereby Given that a dividend of sixty two and one half cent per share on the cumulative Reoe Cable Fisl preferred shares of the company has been declared for the Quarter ending september i. 1965. Pay Able on september i to shareholders of record on August i96s. By order of the Board. We. C o Rourke. Secretary Calgary. Alberta Lulu 21. 1969. Local liquor stores Are re porting slow to quite Good sales of the four Minnedosa. Man. Made liquor brands introduced Here Luly 17. The products of Canada s Manitoba distillery Ltd. Glacier dry Gin plainsman Canadian whiskey Brigantine White hum and Horo Shaya russian for Welcome Vodka appear to be Selling Best in the suburban areas of the City. Winnipeg s o n 1 y self serve liquor store at 3239 Portage Avenue reported the highest sales. Store personnel there Sugges Ted the self serve was working in favor of the new brands. In other stores they Are just names on the whereas Here the customers can see said one clerk. Stores closer to the Centre of the City reported that the new brands had been going slowly just the Normal procedure of any new the general consensus was that the Rye was getting the nod because it costs about 25 cents less than average brands. The 715 German Buffet luncheons served Mon. Thru Fri. To 2 . For reservations 783-6837 4000 Square feet of prime office space available sept. I Central Park building overlooking Central Park air conditioned eleven offices one Board room Large general office private Entrance and elevator. Parking available. For informal Ion write h. Shapiro Central Park bldg. 428 Edmonton St. Or phone 489-4189 if you own stocks and have a weak heart do yourself a favor skip the Stock i ices and jump right into the comics or sports pages. Monday might have gone Down in history As Black monday except that the previous monday the monday before that and possibly next. Monday All could Lay equal claim to the title. In Black and the Story monday was . S Ali of in the Dow Jones Industrial average. The close was the lowest since Jan. 6, 1967 when the Dow closed at 805.51. In new York different stocks traded monday and not a single one reached a new High while 732 plunged to new lows among the 1.289 issues which declined on the Day s trading. On the american Exchange about 900 stocks declined while 60 held their own or crept ahead. In Toronto 780 issues traded 97 advanced 200 remained unchanged and 483 declined with 172 touching new lows. Montreal alone managed to Chalk up new highs for the Day with three issues while 195 of the 295 traded declined. The two big questions now Are Why did it happen and How Long is it going to go on for using Hind sight the first is far easier to answer. Brokers who had been mumbling something about the Market being Long overdue for a correction while at the same time busily filling their clients buy orders Are now proudly strutting and doing their besi to resist i told you so ing their clients. Those who can t resist generally Point to tight Money and the disappointment Over Hopes for a settlement in Vietnam As the big factors. With tight Money there were predictions last May just before the present decline began the Dow was 160 Points higher then that corporate profits would take a beating in the second half of the year and the second Quarter earnings reports available tend to con firm investor fears. A Survey in the . Shows that earnings in the second Quarter posted the smallest year to year gain since the third Quarter of 1967. The Survey said that there Are signs tight Money High interest Rales rising labor and materials costs and increasing consumer caution will continue to restrain earnings growth. All of this is bad news for markets where ratios Are important. For the Long term there is Little speculation As to what might happen. Most brokers and investors arc Busy trying to figure out when the Market will hit the Bottom. With the old advice of buy Low and sell still being the key to turning a profit in the world s biggest legalized gambling Den the Lime is Likely approaching for the Market to turn and nobody wants to miss the boat. Just last week there was talk of the slide grinding to a halt at the 820 to 825 level on the Dow which would be followed by a rally. Good stocks were just Selling too Low was the reasoning. Then in the final four Days of the week the Dow fell 28 Points and by the Friday close had broken through what was to have been the resistance level of 820 and closed at 818.06. Now there is Brave talk of 800 being the Bottom. Good stocks Are just Selling too Low is the reasoning of course. The turning Point is Likely to be what Market analysts Call a Selling Climax. In a Selling Climax there is a surge of Selling the Market tumbles and then the buyers begin to jump in and the Market turns. It could happen All in one Day. Hopes for a Selling Climax monday faded As the Day Drew to a close. There just weren t enough Sellers around to make it Click. While Toronto cleared shares on monday up from on Friday and Montreal turned Over up from on Friday the All important new York Market did t do enough business to justify the Selling Climax tag say most analysts. Others however like Alan Shaw of Harris Upham in new York were being quoted monday As saying that the Market is climatic Price Wise and suggesting that a rally of As much As 40 Points on the Dow could follow. So there you arc. Some say up. Others say Down. All you can do is pay your Money and take your chances. About the Only thing brokers do agree in these Days of Low volume with just a few investors wanting to sell and even fewer buyers in sight is that unless investors Are buying and Selling nobody s making any brokerage fees. Foreign takeovers increasing in w. Canada say albertan n Ait _ i Edmonton Alicr. Ian businessmen say companies in Western Canada and Partick i j Early Alberta Are being taken j Over in increasing numbers by foreign interests. J although some businessmen and economists say foreign Cap ital con tributes to the growth of the provincial Economy they Are also asking questions about i economic and political Independence. Officials of o. Benec Lik corporation brokers Ltd. Of Edmon-1 ton say they have had a lot More inquiries from foreign i capital. The increase is i on ounces since last summer Large j by because foreign capital has become increasingly aware of opportunities Here j the head of a Small Edmon ton company who prefers to re main Anonymous says he knows of at least six Edmonton firms which have been acquired i by foreign interests in recent months. Three were bought by j b a. Interests one German one a French German consortium. And one English. Canada As the closest neigh Bor of the ., is benefiting irom a growing antagonism to wards the . Say 0. Benedik officials. As the . Is pulling out of Many parts of the world Canada is being chosen As the soundest investment alternative being relatively stable Politi Cally. Stan Milnor. Of Edmonton s chieftain development co. Ltd., says because of High risk in the search for and production of Oil and Gas foreign capital must be involved. Canada especially Western Canada is capita deficient. So it is wily natural for canadians to look elsewhere for Wall Street pruning office Deadwood new York special Wall Street s crunch May have slackened dramatically because of reduced Market activity but the men who do the broker age House hiring and fir ing Aren t sitting on their hands. They Are busily preparing for the new on Slaught of trading Many Market observers predict is just around the Corner. The s t r e e t s breathing spell is being used to train Back office workers Many of whom were hired a few months ago when no one had time to teach them. Unproductive employees scooped off the Street Sim ply because they could breathe Are getting their walking papers. Examinations for prospective work ers arc More difficult. And if you Don t have a High school diploma or at know How to Type look somewhere else. You won t even get to fill out a Job application downtown. The Lull on Wall Street is giving us an Opportunity to Clear away the excess at we have accumulated Dur ing the High volume Bache and co. And vice president in charge of personnel and training at Bache and co. And vice president of the Wall Street personnel management association. The need was so great until very recently we All hired a great Many mediocre people. Now we Are taking a More critical View to eliminate the fat while retaining the muscle in French group buys Canada Cement shares Montreal up the French Lafarge Cement group has purchased the Denison mines Ltd. Holdings in Canada cd men Ltd. Amounting to 16 per cent of nearly shares. Sale Price was nol revealed bul at the current Market Price. Hie Purchase would be valued at Between and Denison bought into Canada Cement late in 19gti, buying a Block of shares previously owned by associated British cd men. Alberta Oil figures investors Syndicate limited invites you to attend a free demonstration Date thur. July 31 time . Place 267 Edmonton St. Summer enrolment has tripled this year. If you re even the least bit curious As to Why More and More people Are devoting valuable summer hours to powered inc join us for an hour on thursday evening. Find out More about this effective method of Reading and study improvement enquire about August Day classes offered exclusively 3t Angus Schoot of Commerce 267 Edmonton St., Winnipeg 1 Tel. 942-0614 j Calgary up crude Oil production in albeit averaged Ian estimated barrels a Day during the week ended july 21. Says the Alberta Oil and Gas conservation Board. Production in the previous week was an estimated 755.300 barrels a Day. Daily production in july was expected to be 707.927 barrels compared with 705.006 barrels in july. Volume of crude Oil carried by major Pitcl nes in barrels a Day. Fields served bracketed Federated pipe lines Ltd Carson Creek North. Freeman Judy Creek Judy Creek South. Mori Mill. Swan Hills. Swan Hills South. Vir Ginia Pembina pipe line Ltd 134.976 Bogray. Carrot Crook. Can pm. Edori. Niton. Him Bina. Willesden Green Montreal Chi British Newfoundland corp. Ltd. Re ports net earnings of s881.984 for the six months ended june 30. Up from s78g.702 in the corresponding period last year. Sale of concentrates totalled s3.08s.ooo compared with s 2. 836.1.vj in income from in vestments was s317.jou cum pared with s108.906 v. Hill operating profit dipped to from sh89.257. Imperial pipeline co 109.105 Acheson. Acheson East. Excel Sior fairy Dell Golden Spike Leduc Wood Bend. Redwater it a in Bow pipeline co. Ltd 83.347 Rainbow. Zama peace Kivor Oil pipeline co. Ltd 79.418 Ante Creek. Giroux Lake. Goose River. Kabob Kabob South. Litle Smoky Loon. Nipis red Karth. Site Onette. Snipe Lake. Sturgeon Lake. Sturgeon Lake South. Uti Kuma. Virgo. Zamal t e x a c o exploration co Bonnie Glen. Glen Park. We sucrose. Wizard Lake Gulf Alberta pipeline co. Ltd 35.580 i Aerial. Mix. A Shaw Battle North. Baltic South. Buffalo Lake. Chiswell. C i i v e Drumheller. Duhamel. Erskine. Ewing Lake. Big Valley. Form West . Jol fro. Juffre South. Malmo. Nevis. New Norway. Rosebud. Rowley. Slot Tler. Stet Tler South Wayne Rosedale. Wot drum Heller. Wood River Mitsue pipelines Ltd 25.380 nip Iii Rangel Ancl pipeline division 23.182 Caroline. Kerrick. Gar i Ringlon. Gilby. Innisfail. Joi Lre. Lanaway. M r d i c i n r River. Sundre. Sylvan Lake. Bourne i Lieuw Ltd 20.000 pm Imald i . Bari try. Coulters. Chin Coulee. Choice. Conrad. Mays. Horsefly Lake. Hamilton Lake. . Pnm-0.-. Taber. Tabor South. Tabor out Casl i. A. Ross or. A. H. Kroeker. Manager of a pcs ors Winnipeg Region three is pleaded to announce unit or. Hli m. Ross has been appointed District manager. Or. Floss is Well qualified to . Investors Syndicate and its affiliated companies and he welcomes enquiries irom new Well As customers. Representatives at investors Syndicate limited Olfer a wide variety of personal investment plans which include tile savings and investment certificates of investors Syndicate limited individual and group pension issued by investors in cup Trust the shares of any of three popular Mutual funds. In vestor.-, Mutual of . Investors croup of Canada Ltd and investors inner Nasonal Mutual fund Ltd. Anticipation of the higher volume expected later this year. But it s altogether possible Well have to return to a mass hiring situation to meet our needs the major reason Wail Stercl has been Able to become so discriminating is the dramatic drop in Trad ing volume. Activity on the new York Slock Exchange which averaged 13 million shares daily last year has levelled off to a current daily average of roughly 10 million. With less trading the Wall Street firms Are earn ing less in commissions and this has triggered an econ omy move in most firms. And with the lower volume less manpower is needed. A e r e very c o St conscious these says one broker. Department Heads have strict orders to scrutinize closely any need to replace someone who leaves As activity slows How Ever wages a major Factor in luring so Many applicants to Wall Street in the first place will also decline. The financial Centre had a reputation As a disadvantaged area when it came to salaries a decade ago but it quickly caught and passed mid Manhattan where the advertising and communications industries Are centred. Average salaries of Cleri Cal workers on Wall Street jumped eight per cent Dur ing 1967 and 12 per cent last year in other areas of new York City clerical pay Rose Only six per cent in 1968 and though the rate of increase has declined from last year pay Scales on Wall Street continue their Rise during the first six months of this year Accord ing to the association. At the end of 1967 a typical clerk on Wall Street earned a base pay of s103.47 according to an association study. This figure had risen to by the end of last year. To this could be added a week and overtime at least during 1968 a Bonus averaging Between s15 and a week. The overtime Bonanza. However which Wall Street employees had begun to count on in recent months has All but died. All during 1968. At the beginning of this year and even until last month most Wall Street Back office people could expect As much As 30 hours a week at time and a half. We used to work on said an official of one brokerage House. And saturday had gotten to be a Normal working Day. No body Ever went Home before 7 or 8 in the evening. But that s All Over now. Almost All of us have Cut out Over time Only time will Tell whether the expected surge of activity will return to Wall Street. The big question How Ever is whether Wall Street has used its unexpected breather to clean its House catch up on its paperwork and upgrade the calibre of its Back office workers. The Industry has been provided with an Opportunity to be More says one observer. It was Long funds and the United slates is a logical source. And we re liable to be Capi Tal deficient for a Long time to says or. Milnor. Or. Bruce Wilkinson an economics professor at the univer sity of Alberta says that a problem to be considered is How american rules and interests i apply to Canadian exports and influence imports. If there is a conflict of rules Between two countries he says. The corporation will to the rules of the country where the head office is located. I americans cannot Trade with communist countries he said to illustrate his Point. Some time ago a Canadian firm in Winni i Peg wanted to buy Potash to cd i port but before the american controlled firm would sell the Potash to them they had to gel permission from the american government. The american government objected on uie grounds that the companies would be indirectly Selling to communist countries. This decision affected Canadian exports. Or. Wilkinson added that Ford of Canada was prevented from Selling trucks to China. Regarding imports he says it is statistically proven that Ca Nadian firms owned by foreign interests import much More than Domestic firms. They do not take advantage of domestically produced goods. Many businessmen agree that the advantages of foreign in vestments outweigh the Distad 1 vantages but they would be happier if less capital invest m e n t was concentrated in american hands. Or. Wilkinson says that Avail Able capital could be cumulated through More saving by canadians. People talk about a capital shortage yet hundreds of of dollars Are going into the . For investment. He explained that Many new fast growing companies in can Ada Are owned by american interests. In order to invest in these promising companies. Slock must be purchased on american exchanges. Challenging Opportunity for investment broker in Winnipeg area one of Canada s largest brokerage houses is now pre paring to open a new office in Winnipeg to will be come a key link in a Chain of offices across Canada so it is critical that the right Man be found to serve As Branch manager and direct its planning and development. He must be a mature responsible person thoroughly experienced in the investment business. He must have management capabilities. He should know and be known in the Winnipeg area. The immediate financial rewards will be most attractive with the Opportunity to Progress rapidly within a established expansion oriented organization. If you feel you qualify please reply in writing stat ing age experience and qualifications to Box 1552 free press All replies will be held in strictest Confidence. Reminder to shareholders and share Purchase warrant holders of United Westbourne industries limited As soon As 80% of the common shares of United Welburne industries limited have been deposited with the Montreal Trust company All of the conditions of the Exchange offers made by we Seburne International Ltd. On March 31, 1968 will have been met. Upon fulfilment of this last condition Westbourne International industries Ltd. Will Issue its common shares and share Purchase warrants to the holders who have deposited their certificates in acceptance of the offers. United Westbourne shareholders and share Purchase warrant holders must tender their certificate for Exchange into we Seburne International securities if they wish to participate in Commonwealth Petroleum services Ltd. And Trimaco transportation limited which will be sister subsidiaries of United Westbourne. The of the Exchange otters Are i common share of the Par value of of Westbourne International industries Ltd. I or each common share of United Westbourne industries limited and i series a share Purchase warrant of Westbourne International industries Ltd. Tor each share Purchase warrant of United Westbourne industries limited issued under indenture dated March 15, 1967. Expiry Date of offers july 31, 1969 we recommend the acceptance of the Exchange Oder referred to herein. Shares and share Purchase warrants May be deposited directly at any office of the Montreal Trust company through any Branch of Canadian chartered Banks through the offices of members of the Montreal Toronto and Van Couver Stock exchanges and through the offices of members of the investment dealers association of Canada. Our Branch office personnel throughout Canada will be pleased to assist you with Llie Dpi ill of your certificates. Nesbitt Thomson Skol cities limited ;