The Gazette from Montreal, Quebec, Canada • 32

32 The GAZETTE. Montreal. Monday. May 7. 1979 Ex-millionaire picks insolvency COMMODITIES COMMENTS Securities Management Limited 'A fir J1 1 if his father's estate, said McGuinness has "contradicted himself under oath and consistently loses his memory" in the transcript.

Burka is claiming $431,952. A lawyer for Revenue Canada, which says McGuinness owes $470,564 in back taxes, also wanted McGuinness to testify and provide better accounting. Berman had sought to have the application for discharge heard in his client's absence, arguing that McGuinness had supplied all the information he could to the examiner. After the creditors' lawyers asked the judge to order McGuinness to appear, Berman asked to withdraw the application. "If it (the application) means my client has to be consistently referred to as a bankrupt, I'm not prepared to have him brought before an open forum such as this," said Berman.

The lawyer said McGuinness is in danger of being removed from the board of J. L. McGuinness and Co. Ltd. because the firm is sensitive to bad publicity.

Domtar strike ends NAPPAN, N.S. (CP) A 44-day old strike at the Domtar Chemicals Ltd. salt evaporation plant ended yesterday when unionized employees ratified a new contract offer. More than 70 per cent of the workers, members of Local W24 of the Oil, Chemical and Atomic Workers International Union, voted in favor of the agreement reached Friday' Key provision in the new agreement covering 65 workers is extension of the contract to three years with an over-all wage increase. Before the Domtar workers went on strike here March 23, they earned a basic $5.50 an hour.

Company officials said they expect limited production to begin today. DOW UDNES COMMODITY FUTURES INDEX IS2M-2S-I00 i lUVI 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 HQQ 380 360 3M0 320 1377 LARRY McGUINESS Doesn't like questions representing McGuinness' sister Margaret Burka and Cdn. Oxy's profit dips Platinum price gives no signs of slipping val, president, told the annual meeting. Restatement reflects retroactive smelter contract payment. Furnival said the company is negotiating an acquisition and has arranged to borrow 60 per cent of the required funds.

Royal Trust appointment "jr-, IAN D. SNEDDON Royal Trust announces the appointment of Ian D. Sneddon as Vice-President, Marketing and Moneyservice. Royal Trust Corporation of Canada. Mr.

Sneddon was most recently Vice-President, Moneyservice. He joined Royal Trust in 1959 and has held senior appointments, including Vice-President, Atlantic region and Vice-President, Montreal region. TRADUCTION 8c SERVICE RAPIDE MEMBHE ATLITU GUILD ot Professional Translators 272-3256 LA iL-i Fords set for court squabble DETROIT (LTD The descendants of automotive pioneer Henry Ford square off in court this week over one family member's claim to a inheritance and a position of power in the Ford Motor Co. Benson Ford a great-grandson of the company's founder and nephew of its chairman Henry Ford is seeking to reopen the will of his late father and win control of a bloc of special Class Ford stock left in a trust controlled by his mother. A hearing on the suit is scheduled tomorrow.

The young Ford heir, who already controls 2.6 per cent of the stockholder vote, says his father, Benson Ford intended him to have control of the additional family shares valued at $7.5 million. He hopes to use the added influence to push for a seat on the company's board of directors. But he received official notice last week that he had been turned down by a nominating committee for a seat on the board. STEAM BOILERS WE BUY. SALE AND LEASE USED NEW (10 to 800 HP) BOILER ROOM INSTALLATION R.

MANTEL INC. 4900 ROUEN MONTREAL 253-3340 1 74 Hours service) COMFANY NEWS age of zinc concentrate will exist by late 1979 and 1980. "These conditions will, we believe, generate a further price increase for zinc in the near future," he said, adding that there hasn't been any letdown in demand for lead and the price therefore should remain strong. Bruk said capital expenditures this year are estimated at $10.8 million Riley's Datashtre Avril Minor, chairman of Riley's Datashare Mentation Ltd. of Calgary, said he sold 330,000 shares of Riley's Datshare, equal to a 25.32 per cent interest, to Terry Sparks, president of Riley's Reproductions Printing Ltd.

There Isn't any corporate connection between the two companies. However, Sparks is a director of Riley's Data-share. Terms of the share sale weren't disclosed. The purchase increases Sparks' holdings in Riley's Datashare to 33.08 per cent. Minor said he will continue as a director and chairman of Riley's datashare.

He added that the 330,000 shares represented most of his holdings. Western Mines Western Mines Vancouver, had first quarter net income of $1.4 million or 26 cents a share compared with restated 14 cents a share a year earlier, Dr. G.N. Furni- GULF CANADA LIMITED DIVIDEND NOTICE A dividend of thirly-fivr cents (35c) pT shiire fur ihe wrond quarter ending June 197(1, has been declared on the ismied common shares of the Corporation. The dividend payable in Canadian fund.

July 1. 19T9, to Shareholders of record at the close of business on May 1979. WIMERTUN, Secretary. Toronto, April 2fl, 1970. (Gulf) Canadian Occidental Petroleum Ltd.

reports first quarter operating profit of $3.6 million or 37 cents a share compared to a restated $4.7 million or 54 cents a year earlier. Cash flow from operations was $6.1 million or 74 cents a share vs. $6.2 million or76 cent, while revenues increased to $27.3 million from $22.2 million. The company said earnings from oil and gas operations declined bacause of higher operating and exploration costs. "Operating costs in Peru were disproportionately large because this property is still being developed and the company's share of production volumes is relatively low," it said.

Earnings and revenue from all segments of the company's chemicals operations were substantially improved due to increased sales and higher product prices, Canadian Occidental added. The company said it had a foreign exchange loss of $251,000 in the first quarter compared with a gain of $1.1 million last year. Peyto Oils Peyto Oils Calgary, reports operating profit in its nine months to Feb. 28 of $2.1 million of 75 cents a share compared to $919,000 or 3 cents a year earlier. The latest period excludes a $1.6 million gain on the sale of a subsidiry.

making final net $3.8 million or $1.31 a share. Sales were $5.6 million vs. $3 8 million. Cyprus Anvil Considering the first quarter performance the continuing strength of metal prices and barring any unforeseen difficulties "1979 should be a record year" for Cyprus Anvil Mining John Bruk, president, told the annual meeting. The forecast, Bruk said, was based to a great extent on the expectation that zinc demand will continue to improve and that a real short- SPECIAL COURIER to US oniv D.iv VniePO Siat'on Wmimount.

Hil Zt6 Telephone 7" By GORDON BALL For Financial Times Ninety-five per cent of the non-communist world's supply of platinum is produced at just three locations. There are the Rustenburg and Impala mines in South Africa, and then there is Inco Ltds Sudbury operation, which is currently on strike. The other major supplier in the world is the Soviet from its Norilsk nickel operations. This very tight control of an important metal has created wild price swings and speculation by people who believe platinum is a better monetary hedge than either gold or silver. Platinum is not used as a monetary base except for a limited number of coins and medals.

Platinum is, in fact, an industrial new material, which means that its price rise has been caused mainly by changes in demand and supply. Gold and silver, by contrast, are affected by the vagaries of monetary actions which change the price of gold and, to a lesser extent, of the price of silver. Used in auto industry The largest use for platinum is in automotive exhaust systems which will likely continue to be sold for five to 10 more model years. Although new diesel units don't use platinum catalysts, the replacement of mufflers in already existing units provides a ready market for the future. In the oil-refining business, the use of platinum in catalysts in the refining process appears to have a reasonable lease on life.

The removal of lead, as an anti-knock compound, has led to greater use of platinum in the refining process to increase the octane rating of non-leaded gasolines. But alcohol made from corn or other agricultural products could be used to raise the octane ratings in gasoline. Currently, alcohol is too expensive for its fuel values. But the rising cost of oil could rapidly make alcohol more competitive. Glass-fibre insulation sales continue to expand and again platinum is used in the production of these fibres.

Jewelry is the other main use and Japan, in particular, is a major consumer of this metal as sales of platinum in jewelry continue their strong upward trend in that country. Soviets stop selling The strike at Inco has considerably reduced supplies and this has aided the substantial price increase since the fall of 1977. At that time, the Soviet Union, which had been a consistent and regular supplier of the metal to free world buyers, simply stopped selling. After persistent inquiries. Soviet authorities said that the platinum they had previously offered was being withheld because reserves were needed for the production of a platinum coin to be sold to celebrate the Moscow Olympics in 1980.

The effect of this hoarding created a self-fulfilling prophecy in the fact that by removing supply, prices would increase. This justified the hoarding of the metal. The price of an ounce of platinum a year ago was around $200 (U.S.) a troy ounce while gold was $170 and silver was $2.75. Today, platinum looks as if it will shortly break to the $400-an-ounce mark while gold hovers in the $240 area and silver is at $7.40. The metal is truly rare and in a very controlled position despite the fact that the South Africans have increased production to make up for the reduction of supplies from Russia.

Consequently, prices will likely hold at current levels for some time beyond the resumption of production at Inco once emoloyees return to work at Sudbury. Gordon Ball is manager of research with MacDou-gall, MacDougall and MacTier Ltd. of Toronto. TORONTO (CP) -Former millionaire distiller Larry McGuinness has chos- en to remain bankrupt, depriving his creditors of a court hearing to ask questions about a missing $3 million to $4 million. McGuinness's lawyer, Jules Berman, withdrew his client's application for discharge from bankruptcy Friday after lawyers for the creditors asked Mr.

Justice David Henry to order McGuinness to answer their questions. Berman said his 58-year-old client chose to remain bankrupt rather than testify in an open court where the news media would treat him as "an animal behind bars in a zoo." The discharge would have relieved McGuinness from claims for past debts. Creditors can contest applications for discharges if unsatisified that all assets are accounted for. Last November, McGuinness spent two days being questioned in private by a special examiner. Lawyers for the creditors said the answers were not satisfactory.

The transcript of the examination showed a lack of adequate accounting, said Ron Robertson, acting for the Clarkson Co. and the Toronto-Dominion Bank, on whose $347,064 loan McGuin ness declared bankruptcy in 1977. Hilda McKinlay, a lawyer Communication AC Limitee appointment CLAUDE P. DESJEAN The Board of Directors of Communication AC Limitee wishes to announce the appointment of Claude P. Des-jean as President and General Manager of this new company.

Communication AC Limitee, with head office in Montreal, is a wholly-owned subsidiary of All-Canada Radio Television Limited and will be conducting business on behalf of the latter company in the Province of Quebec mi CALL FOR TENDERS CCP-79-19123 for 10:30 Montreal Time Tuesday, May 22, 1979 Various Bubstations INSTALLATION OF TWENTY-SIX (28) AUTOMATIC LOAD LIMITATION SYSTEMS Tsnder guarantee: $8,000 Principal place of business in Quebec All conditions of the present Call for tenders are contained in a document written In French which may be examined and may be obtained against a NON-REFUNDABLE payment of $25 for each complete copy by certified cheque or money order payable to Hydro-Quebec from Monday to Friday inclusive, between 8:30 and 16:30 at the following location: hydro-Quebec Direction des contrats Bureau 809 75 ouest, boul. Dorchester, Montreal, Que. K2Z 1A4 Canada The above stated tender guarantee shall be, at tenderer's choice, either a certified cheque or a Bid Bond In the shown amount. Tenders may be submitted only by persons, firms and corporations that have obtained the tendering document directly from the above mentioned office. Hydro-Quebec reserves the right to reject any one or all tenders.

DEMERS Secretary For information: Tclophone: (514) 283-1711 Extension: 1484 1 4 W. H. CUNNINGHAM Quinn C. W. Bamford.

President I.S.M.L. announces the appointment of W. H. Cunningham as Manager- Fixed Income Securities. Mr.

Cunningham joins Investors from a major Montreal financial institution where he was bond investment manager. He has extensive experience in fixed income securities and in addition to his primary responsibility of managing the portfolios of Investors Bond and Pooled Bond Funds he will handle other areas of fixed income Investment for the Company. DIVIDEND NOTICE On 17 April 1979 the directors ot Crown Zeilerbach Canada United declared quarterly dividends ot 33 per share, payable 14 June 1 979 to members of the company holding class shares ot the company of record at the close business on the 1st day of June 1979 and to members holding ordinary shares ot the company ot record at the close ot business on the 13th day of June 1979 Clark. Secretar CrownZellerbach, Li PREMIER CABt-EVISION LIMITED Notice of Dividend No. 6 NOTICE IS HEREBY GIVEN that a dividend of 12Vj per share has been declared payable on May 16th, 1979 to shareholders of record at the close ot business on May 2, 1979 8Y ORDER Of THE BOARD Francis Garrett.

Assistant Secretary Vancouver 6 May 19'9 DIVIDEND NOTICE CANADA MALTING CO. UM1UD CLASS A SHARES CLASS SHARES NOTICE is hereby given that quarterly dividends of Forty-live Cent (45) per sOiare on the CLASS A CONVERTIBLE common shares, and Forty-five Cents (4SC) per share on the CLASS CONVERTIBLE common shares have been declared payable June 15, 1979, to shareholders of record at the close of business on May 25, 1979. By Order of the Board. Charles T.Clego, Secretory. Toronto.

Ontario. April 26, 1979. NORAiMDA MINES LIMITED DIVIDEND NOTICE NOTICE is hereby given that the Directors of Noranda Mines Limited have declared a quarterly dividend of Sixty Cents (60C) per share in Canadian Funds on the outstanding common shares of the corporation payable on the 15th day of June, 1979 to shareholders of record at the close of business on the 1st day of June, 1979. The dividend is payable in common shares at a value of S42.50 per share to share ho'ders who elect by the record date to receive stock dividends in lieu of cash. 3y Order of the Board, R.

C. ASHENHURST, Secretary Toronto, Ontario April 27, 1979 77 1 LA 1 978 1979 VILLE D'OUTREMONT CALLS FOR TENDERS 1 Complete sidewalks re construction on north side of Van Home and Bernard Avenues and on others Avenues. 2 Electrical works Sealed tenders in self addressed envelopes bearing reference to the above, will be received until 12 o'clock on Wednesday, May 16, 1979, at the office of the City Manager. Only tenders filled on blanks prepared by the City will be considered, specifications forms of tonder, return enve lopes and any further information may be obtained at the office of the City Engineer, City Hall, 510 Davaar Avenue. The City does not bind itself to accept the lowest or any tender.

Jocelyne Perrtault City Clerk "YOUR BEST LIFE INVESTMENT" TROCAL Systems Reroofing or New Roof Inquire: 845-32868269 VILLE DE MONTREAL PUBLIC NOTICE ORDINANCE NO. 1 By-law 5302 concerning the conditions governing discharge payment for violation of a municipal by-law provision relating to traffic safety or the use of an automobile vehicle or an accessory of such a vehicle. NOTICE is hereby given that le comite executif at Its meeting held on May 2, 1979, has enacted the following ordinance: 1. By-law 5302 shall apply as of May 13, 1979. Marc Boyer Greffier la villa.

HOtel de Vllle. Montreal, May 7, 1979. call a meeting, call us first. Brinco Brinco Ltd. reports first quarter profit of $250,000 or two cents a share compared to $359,000 or three cents a year earlier.

Revenues were $1.1 million vs. $862,000. CITE DE COF.VAL CANADA QUEBEC DISTRICT OF MONTREAL PUBLIC NOTICE PUBLIC NOTICE Is hereby given by the undersigned, that the collection roll for water tax for the year beginning May 1st, 1979 and ending April 30th, 1980, has been completed and Is deposited at his office at the City Hall, 60 Martin Avenue, Dorval, and that the tax accounts shall be sent within the alioted delay. GIVEN AT DORVAL. QUEBEC, this seventh day of May, nineteen hundred and ssvon-ty-nlne (1979).

MICHEL LEFCBVRE, eg o.m.a. Trteorier. i ORDER OF ARCHITECTS OF QUEBEC 1829 DORCHESTER W. 937-8168 We treat meetings like we do our guests, royally. We can help you arrange anything from an informal breakfast meeting to a major presentation.

Ask us about our small conference package for up to 100 people. No meeting is too large or small for the Queen of Montreal hotels. 861-5511 queen Jlizabeth A ON Hotel operated by Hilton Canada. M. ACRES Manful Hit tQJ IVM3U ELLIOTT PETER 4 BT1 SMrSthjka DtrMI WrM.

STAHL 4 14lt Mountain MonttMl HJO 113 PATRICK McG. STOKER 1117 St. Ctumm W. MonlrMl HIS IHa 1-lM-04 Ariy Archltoct'M firm Inttresltti In joining lh bov indot snould contact Mrs. C.

LarrDie ot Tht Giwefw 867-11.