Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 8, 1981, Winnipeg, Manitoba Mail return will mean Cash flow to business by Chris Smith interest rates May be setting record highs but the expected return of postal service Means Many Busin esses will at least have the Cash flowing a tentative agreement was reached thursday night Between the government and the striking inside postal workers after a 39day the workers must still vote on the but ratification is expected within a the strike disrupted business across the and the tentative pact was described As Good and positive news by Rita president of the Manitoba Chambers of interest rates the chartered Banks prime rate reached a record 2175 per cent thursday Are still a Roeland but its Good that Busin esses Cash flow will return and people can get some of their Money in publishers hard hit publishers were especially hard hit by the postal dispute and Many had magazines and other publications Pil ing up on the floors of waiting for the mails to and Manitoban attempted about seven per cent More Telephone Calls during the which began in late june the increase being attributed to increased business use As a result of the Winnipeg chamber of Commerce president Jack Hignell said the two most serious challenges facing Busi Ness recently have been the postal strike and the eve increasing interest the to tentative postal settlement Means Good news on one said but Hignell said his remarks May be tempered if the details of the Settle ment prove to be but on the surface based on the meagre details business Roeland Good available thursday night it Doest sound like a disastrous Union sources said the Canadian Union of postal workers won partial victories on maternity vacations and shift premiums but lost a bid for a 12th annual paid the contract provides for a 70cent hourly increase each year and continues the previous costo living allow Ance that could add roughly 40 cents More the average hourly rate now is Mobil seen making new takeover move York Reuter Mobil the second largest Oil com has lost the multimillion Dollar Battle for control of Conoho Industry analysts expect it to rebound soon with another major takeover although Mobil has declined com ment on such a financial observers believe it wont be Long be fore the company attempts to acquire another Energy related or per haps a natural resource concern out Side the Oil analysts believe with merger mania sweeping the Ness More big deals within and outside the Oil Industry May be in the oils analyst Sandy Margoshes of Bache Halsey Stuart Shields says in View of its Strong financial position and its desire to it is Likely Mobil will continue to be a fierce competitor As the merger and acquisition game the acquisition game heated up the past few weeks As Large Oil companies lined up More than billion of Bank credit for use if and when Mobil itself has billion on on Dupont de Nemours and the largest chemical won the Battle for receiving million shares or 55 per cent of the in response to its tender the losers were Mobil and Seagram the worlds largest but neither is expected to sulk for Seagram said it has garnered million Conoho shares under its own tender which expired Midnight last the whote communications system was shut Down during the strike and Cash flow will be Able to move again with the resume Tom of mail Hignell Many businesses had to borrow Money at the High interest rates during the strike because of trouble sending out Bills and collecting Hignell said one reason for the High interest rates is the need to prop up the value of the Canadian caused partly by a Lack of an Oil pricing agree ment Between Alberta and busness could move again if that was cleared he Roeland saying Canada needs an Oil pricing Accord because too much capital is leaving the country to Purchase foreign crude when Domestic resources should be an Albert Ottawa Energy agree ment would strengthen the Canadian Dollar through increased investment she part of problem Roeland added that the Best rate a business Borrower could get from a Bank now is the new prime rate of per a figure More than 10 per cent higher than a year Manitoban have sat patiently through the increasing rates of the past waiting to see if the policy would but now the solution has been shown to be part of the Roeland she said credit buying is too easy and Consumers will have to temper their buying attitudes and homeowners fac ing increased payments of from 63 per cent to 100 per cent since they negotiated five years ago need immediate re Woolworth warehouse Woolworth stores will build a new provincial distribution Centre in Winni Peg As part of new development in the Inkster Industrial the million warehouse develop which will include a facility for Seaway Midwest should be completed by the end of the the two Ware houses will House a wholly owned subsidiary of and the Woolworth which plans to use the facility As a Manitoba distribution Centre for Woolworth and woolco the project is being financed by Mol sons and by the great West life Assur Ance Dominion construction is the this advertisement is nor to be construed As o Public offering in any province of Canada unless a prospectus relating thereto has been accepted for filing by a securities commission or Sam liar author try in such if of gov tax shelter Ermineskin place limited partnership Alberta a qualified Complex located in Alberta consisting of 226 residential units and approximately 11750 Square feet of commercial space 550 limited partnership units per 1961 payment 1961 projected tax shelter this offering is Mode by rhe prospectus Only and copies thereof May be obtained from the undersigned Quilico Epson ten 10705 107rh Avenue t5hov6 403 Calgary 57161sr Street t2h 1h6 403 Winnipeg r 30 Speers Road r2j 1l9 204 Vancouver 207 4400 Dominion Street v5g4g3 604 4303461 indices gain the Toronto Stock Exchange 300 Index and Montreal Industrial Index were both up for the the tse 300 Index Rose to finish the week at while the Montreal Industrial Index gained to close at Montreal Market Falls the Montreal Stock Exchange lower in yesterdays moderate session to end a modest 2day although advances managed to Edge out declines and six of the 11 a relisted Stock groups gained the 85stock composite dipped to closing volume was compared with thursdays oils gained to Banks to and industrials to while utilities were Down to and papers to among Active winners Hudson Bay Oil and Gas Rose 3y8 to Westbourne 1 to Power to and Aquitaine 1 to the most Active Industrial was Turbo up it to with a volume of shares while among mines and oils it was Silver up to with a volume of 8425 shares up dropped to up enterprises to Alcan Vic to dome Pete to Bell 4 to and Hiram Walker Oshawa a to cae to to Bank to Noranda to Canadian tire a to and Maclean x to among Shell lost to Texaco to husky 14 to and Gulf Tyg to while Imperial was unchanged at the most Active juniors were mass up 10 cent to 37 cent with a volume of shares up nine cent to 99 cent with a volume of shares moved and up 10 cent to with a volume of shares Toronto drifts lower the Toronto Stock Market drifted to a mixed close yesterday As a rally fizzled the tse 300 Index dropped Points to but gaining issues maintained a narrow margin Over the nine of the 14 Stock groups in the composite Index led by which suffered its worst setback of the year with a fall Points or per cent to communications and Media had the largest of the five up Points or per cent to volume at the close was million shares and value was on million shares Worth million changed the number of Call options traded Rose to from thursday while put options decreased to from analysts said the rally of the last two sessions mainly reflected bargain Hunting after last weeks Steep de until record High interest rates sub any Market recovery will be they trading in Dominion stores resumed after a Daylong halt and the Stock finished the session up y2 to on Hollinger Argus said its share holders will receive Argus common and class c shares As a special dividend and that Dominion stores will make a bid for trading in shares of Hollinger Argus and Argus also resumed after being halted Hollinger closed Down 1 to on shares but there were no sales in shares of that Stock last traded at unemployment lowest in Over year Washington a defying signs that the Economy is the unemployment rate in the United states fell to seven per cent in the lowest level in More than a the government said the drop from per cent in june was the second in As Many and the labor department said All of it was due to a surge in jobs for despite signs of a sluggish Economy in the april june business executives were not paring their work forces in apparently waiting to see the effects of president reagans tax Cut and a promised military buil private economists expressed sur prise at the july improvement and speculated that it was a its not consistent with other eco nomic indicators that Are coming i View this As an said economist Thomas who had expected a slight Rise in the jobless rate last the government reported last month that the Economy contracted at an annual rate of per cent in the april june leading indicators of future economic performance were Down per ent in May and per ent in and other government figures also show a sluggish has fallen below the double digit Levels of a year the governments newest report shows that although were having a period of economic the econ omy is not about to fall off the Edge of a precipice and go into a said senior vice president and chief economist for san Francisco Crocker National new York decreases the Stock Market lapsed into a steady decline yesterday amid some fresh doubts about the Outlook for est rates and the some brokerage issues gained on the strength of takeover the Dow Jones average of 30 Indus trials fell to closing out the week with a net loss of volume slowed to million shares from million among securities Industry Hutton jumped to despite the company declaration that it could not account for the activity in its buying of the Issue was particularly evident near the Dean Witter climbed 1 to last mondays announcement of Phil Bros plans to acquire the investment banking firm of Salomon Brothers sparked talk that further mergers might before the Market opened the labor department reported that the unemployment rate fell to seven per cent in reaching lowest level in More than a while the figure was ostensibly a sign of economic analysts said it also raised some concern among Wall Street had generally been expecting the rate to giving the Federal Reserve Board encouragement to ease up on but with the jobless number those expectations quickly airline issues were mostly lower As the governments dispute with air traffic controllers Delta air lines lost 1 to Ual to american airlines to Eastern airlines to and trans world to Federated department stores fell to on reports that a Federal Trade commission office proposed the filing a complaint against the company Over its buying among actively traded losing Procter and Gamble was off 1 to in trading that included a Block at and another of at United technologies 3 to and Merck 2 to those three issues together accounted for More than half of the Dow Jones industrials Lowenstein dropped 2 to the company said takeover talks with Allied had been broken Standard and poors Index of 400 industrials fell to and s and is soft Stock composite Index was off to among Canadian Canadian Pacific lost 1 to Mclntyre mines i to and Campbell red Lake to Seagram gained to Ash land Oil y8 to and Alcan y8 to Vancouver unsteady prices were mixed in heavy trading yesterday on the Vancouver Stock sex which recorded a volume of shares by of the issues that traded 186 declined while 175 advanced and 302 were in on the Industrial Board re sources fell to on Potter distillers b lost to on Potter distillers a Rose to on Canadian javelin was unchanged at on Bell Canada was unchanged at and k Cycle inched ahead to heritage assets assets of the Alberta heritage Sav Ings Trust fund totalled billion on March says the annual re port of the fund released the report contained an accounting change under which capital previously included As deemed now Are reported at the end of the 198081 year these deemed assets amounted to Mil publication release notice economic geology report er801 the cat Lake Winnipeg River and the Pekusko Uke Pegmatite Manitoba by goad and Paul 216 168 85 5 maps Price this report is the result of a study carried out under contract by the Centre for precambrian University of Manitoba funding was provided under the sub agreement on Mineral exploration and development by the Manitoba depart ment of resources and environmental Many and Canada department of regional economic the report will be released on August at Cut at the be science data 993 Century Manitoba and at the mining recording provincial the orders should be accompanied by Cheque or Money order made payable to the minister of finance of Manitoba if orders will be shipped by for further please Contact publication be science data Section at the above address or phone 204 Manitoba spa Bevent of a nerdy and Mineral resources division territorial sales person we Are a division of a Fortune 500 Compa a leading manufacturer of air electric Power currently seeking an sales we Are a progressive Market orientated with a product line Long established As a Standard for the the candidate we seek will have experience background calling on a combination of Industrial Supply construction Supply Dis to the qualified individual we can offer a Fine starting salary company car an excellent benefits for further to arrange a dental please Call Young 41 Thor rower ts0l company a Stewart Warner company an equal Opportunity employer ;