Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 9, 1973, Winnipeg, Manitoba Winnipeg Frh press wednesday May 9. 1971 Telesa Canada makes a hit we Reserve the right to limit quantities Grade a beef Hinds ,93 fronts cup wrap expertly Quick Frozen City wide delivery budget plan by Jeff Carruthers free presi correspondent Ottawa after Only five months of commercial opera Tion of Canada s unique domes t i c communications satellite system Telesa Canada corporation is already operating in the according to a Telesa spokesman. The commercial Success which promises to not Only con Niue but also strengthen in coming months has arrived considerably sooner than expected the spokesman admitted his week. For the corporation s present Federal government with in and the common carriers Bell Canada the trans Canada Telephone system member companies and in up telecommunications with another million Block Hill dk1uit Hamburg 3us51.89 family pack wieners necks Young beef steaks round -us1.29 sirloin or win 1.39 baroque. 11.89 were to be issued tomorrow Byk crans talked about having at Telesa Only in additional shares would be needed. In discussing and approving Telesa Canada the govern ment talked about tripartite ownership of by each group the government the carriers and the Public. At one Point former communications minister Eric ii thur steaks. Saus Aci. .11. 65 comb i 1miuik picnics. .1.65 Young beef roasts t _. Cross rib us 1.1 5 89 Chuck 79 rib u.j1.19 1.15 ii t m. I Siki cold meats. I kit Ham. Ahkii Bologna 1.29 .u.49 frying Chicken u r to Init Bacon. 65 us i Bukiri Bacon l.69 shoulders Grain fed s pork Uttel shoulders Jet ten steaks Toltl Mlot spare ribs Nin rib tout Una hams m .11. 72 ran Hocks i.35 my. A hi1c. Turkeys u49 Iii Mihk cheese_______ii.49 i us. A j Marti in Khz pm in i Cantaloupe 3m 89 8 us s1 bananas styx Fyk my lard 4 us 89 Cim 14 ii. Rentt Corn Smi 4f.99 i n. It. Sauce i 01. Meat spreads. Mem wami Salmon 89 Mil Tea bags a. Ut1bismiithk potatoes Jim of Pawko Mew _ Margarine-5 tis. 89 pm unit m beef Stew. .55 Rice 2-.s9 Sci Wax 4ir .99 it now seems Worth All the Effort. And then there s additional icing for the cake a wind fall of revenues from a number of american concerns to use the Back up Anik-2 Satel Lite to the tune of or More a year for at least two years. For the Public or More correctly the would be Public Telesa shareholders Success will Likely mean considerably less than the in pub Lic Stock Issue and considerably less than the one third control of Telesa envisioned by the government three years ago when it established Telesa Canada. The reasons offered by Tele sat for offering the Public less of the if any at All Are the better than expected Telesa does t need All of the Money the planned Public subscription of shares would bring. Telesa now operating properly there s no longer the risk Factor present for investors that was present several years ago when the govern ment and the common carriers were offered half each of the action. In t obliged by Law is by the Telesa Canada offer any of its shares to the Public by any specified time. The question of when Tele sat would Issue the one third Block of shares to the Public has been with the corporation since before it was legally born. Now there s a question of whether the Public shares will be issued. At first parliamentarians guessed the Stock would be is sued to the Public along with the shaves issued to the other two partners the government and the common carriers. Then the Date for the Public Issue slipped by several months until after Telesa was organized. The last Public statement by Telesa president David Golden who holds the one outstand ing Public share pinpointed the when As being possibly As late As just after the first satellite was launched and working. That Date has come and gone. The word thursday from the Lesat was that the Board of directors had decided at its last meeting in april that there is no immediate need for issuing the Public shares. The Board according to a to Lesat spokesman is continuing to review the situation. It is being aided by a consortium of four Canadian investment dealers who Are also assess ing the the Board by the Way consists of five federally appointed members and five common car Rier representatives and Dave Golden according to Telesa. The spokesman for the Cor p o r a t i o n explained that the Stock Market situation is not the Best at present. But the real reason is that Telesa just does not need any extra Money at the least not at the present time tells by is making enough Money m revenues to cover operating costs and to pay off capital he sat has already leased eight of the 10 available channels on Anik-1 and is holding two others As Back up several channels have also been leased by two . Concerns on Anik-2, the Back up satellite launched last month and due to Start operating later this year. He estimated that the Alk system ground stations plus satellites has Cost Telesa slightly More than to Date. More important Telesa has Only had to borrow in Low interest Long term Loans from the Federal government. It can draw up to under the Telesa Canada act. And this is in addition to Ottawa s equity in the corporation. Originally it had been assumed that Telesa would have had to borrow As much As million or More from the government and that the Public shares would have been issued to pay this Buck. On this basis it Public shares record season Quebec up the port of Quebec handled 2.18 million tons of cargo in the first three months of 1973 compared with 1.96 million tons in the corresponding period in 1972. The port received 1.27 million tons of merchandise and shipped out tons Between january and March 1973 which represents another record season of Winter shipping. Least 30 per cent of the chares owned by the Public with no More than two and one half per cent owned by any individual and no More than 20 per cent owned by non residents. But there s More to it. Telesa officials now seem to b e 1 i e v e and underwriters any Public stocks have to be sold at considerably higher prices than the original per share. The argument is that the time of High est investor risk has All but passed for Telesa now that two satellites Are in orbit. The Telesa spokesman suggested that some stockholders of Telesa have even asked Why the Public should be permitted in now at All supposedly considering the fact that the Good times Are now just starting. An increase in the share Price would in effect reduce Public shareholder control even More. On the other hand the spokesman said that the need for Money which would necessitate a Large Public share offer ing could come in the future. He offered As an example the possibility that Telesa might b e asked to provide communication s e r v i c e s for the length of a Mackenzie Valley pipeline. This would require fancy cruisers Paris a the French Highway patrol of 38 men has five new luxury cars for patrol Ling the Miles of Auto routes that have no Speed limit. The two door citroen Mas Cratis which Cost each have a top Speed of Iso Miles an hour and come equipped with leather upholstery. Aluisi Tilott of up to 50 new Earth stations at j2m.ooo each. We Don t have that kind of Money in our hip he said. But Why was t the Public let i at the beginning when the risks were so High the spokesman said that the underwriters were concerned that the Public might True the situation thai with the Federal government in it was a sure there was also concern about the state o the Stock Market at the time. He added that if there s any one to blame for the situation it s parliament. The parliament should have been More specific about the ownership and Abou the issuance of Public shares. In fact some conservative members did raise such Poten tial problems during the discus Sion of the Telesa Bill thre years no Avail. Tucson the Navajo Indi-1 in 18c7 and today have Tail numbered Only about creased to More than your Solil 7666541 Ihmi matches cheese ,89 Mildest March Quebec up March 1973, was the Mildest March on record since 1h58 in the Quebec Region says the Quebec air port s monthly metco Olgica report. Average temperature tot the month was 30.3 degrees total snowfall this Winter a 149.7 inches Down from 153. Inches in 1972. Dream like gardens at realistic Low prices Start at our Garden shop Polo Park and Garden City Premium turf builder 20 in. Bag Lawn food once a year application lasts and lasts. C99 Gold Label Lawn food 35 in. Bag. Con trolled release bag treats so. It. 399 a. 16-20-0 fertilizer 50 in. Bag gives 5.000 so. To. Coverage. O77 4 cd. It. Peat Moss essential soil improvement. Great value. O49 sea. Evergreens Weed and feed kills Lawn weeds 20 in. Bag. 20-10-5 formula. Won t Burn grass. So. It. 99 organic Lawn food grub and Bug killer 40 in. Bag. Control soil insects and ants. So. It. 99 a. Green Karpet Lawn food slow acting organic 5-5-0 formula. 50 bag. 99 20 in. Bag. 20-10-5. For so. It. 399 a. Water soluble 15-30-15 food famous proven formula. 1 in. Makes 16 gals. 19 Bone meal Root stimulator 25 ibs. For evergreens Trees bulbs roses Etc. 499 10-6-4 Lawn food Layman Rose food 40 in. Bag. Low priced and fast acting Lawn food. 99 a. 5-10-15 formula. Prevents insects and weeds. 5 in. Door opening specials personal shopping Only. Limited quantities. Playground grass seed Plant food 20-20-20 3 ibs. Soluble food As used by people who know. O29 asst d. Varieties he. 5 in. Bag. Fast Starling seed. 3" kit Lucky Bow 1 in. Box.2.71 m. High Quality. Iron Lor better color. 19 a. Smell Lawn asst d.1.h m. Yellow peace hybrid Tea 1.19m. Crimson glory hybrid Tea 1.19m. Hansa Shrub Rose. 1.89 a. Queen Elizabeth Grandiflor 1.89 a. Miss Canada Rose 2.29 a. Chicago peace. 3.49 a. Plus Many More varieties to choose from. Assorted junipers 3.99 a. Thuya Ware Ana 15-18" size 6.99 a. Pfitzer compact 18-24" size .6.99 a. Juniper Sabina 18-24" size. .8.99 a. Thuya Ware Ana 24-30" size. 8.99 a. Pyramidal is 24-30" size. 9.99 a. Heyer Apple 7.99 a. Haralson Apple .7.99 a. Carroll Apple.7.99 a. Mount Royal Plum 8.99 a. Laural Leaf Willow 8.99 a. Griffin Poplar. 9.99 a flowering shrubs forsythia Spring glory .2.49 a. Rose tree of China 2.99 a. Potentilla Gold drop 2.29 a. Spirea froebeli.2.29 a. Double mock Orange. 2.29 a. Pink tartarian honeysuckle .2.29 a ;