The Province from Vancouver, British Columbia, Canada • 30

BLSI copr .1. KS rtCVlNCE, Tuesday, Oct. 31, 1978 BUSINESS BRIEFS Dollar helps Doman set profit record Stelco profit takes a big jump1 TORONTO (CP) With demand for its products continuing strong, Steel Co. of Canada (Stelco) has reported profits for the nine months ended Sept. 30 of or $3.42 a share compared with $69,835,000 or $2.64 a share for the same period last year.

For the third quarter, Stelco reported income of $30,446,000 or $1.11 a share compared with $18,191,000 or 62 cents a share for the. same quarter in 1977. In a report to shareholders, Stelco said Monday the outlook for the fourth quarter is optimistic. price increase being sought by Inland Natural Gas Co. in Pentlcton on Nov.

7 and In Prince George on Nov. 15. Inland has requested an increase of between 5.5 and 11.1 per cent, depending on whether the customer is a residential, commercial or industrial user. Inland has about 74,000 customers, of whom 65,000 are residents of Kam-loops, Kelowna, Prince George, Ques-nel, and other Interior towns. Industrial customers include Cominco at Trail and Kimberley, Consumers Glass near Vernon, and Cement LaFarge at higher sales at two units provided Rio Algom Ltd.

with higher earnings during the nine months ended Sept. 30, the company announced. Pre-tax earnings were $69.68 million, $2.6 million higher than the same period of 1977, while net earnings rose $8.08 million to $42.39 million or $3.10 a share compared with last year's $2.51. "Revenue and earnings were higher this year at Atlas Steel due to improved productivity and increased volume at both manufacturing plants," the company said. "Atlas Alloys also recorded higher sales and earnings, particularly in Canada and the United States 29 Vestgron profits dive Vestgron Mines Ltd.

has reported that unaudited net earnings for the first nine months of 1978 dropped to $274,000 or six cents per share compared to $5,225,000 or $1.24 per share in the sa me period last year. Vestgron president O.E. Owens said sales for the first nine months dropped to $27 million from $31.4 million last year. Earnings for the third quarter, however, were $1,032,000 or 24 cents a share on sales of $13 million. As a result, Owens said the loss incurred in the first half of 1978 has now been recovered and demand and prices for zinc concentrate have improved.

He said the market for lead concentrate remains strong. Gas price hearings The B.C. Energy Commission will hold public hearings on a natural gas A preferred stock, will be paid Dec. to shareholders of record Dec. 8.

White Pass hires towing firm White Pass Yukon Corp. Ltd. has awarded a Vancouver towing company a contract to haul its two container ships between Vancouver andSkagway, Alaska. White Pass plans to convert the Klondike and Frank H. Brown into barges to save on crew-ing costs and prune $1 million or more from its annual bill for marine operations.

Knight Towing of Vancouver, is modifying the former Norwegian whale catcher Pacific Challenge to tow the two vessels. Pacific Challenge is 173 feet long and has a 3,600 h.p. diesel engine. Knight is adding two 500 h.p. diesel-electric motors driving for-, ward mounted propellers.

These i propellers, mounted on legs sus-1 pended from the bows, will be reversible to assist in docking. They will also improve the service speed of the Pacific Challenge. -Pacific Challenge is 26 years old and will, when modified, operate on a nine-day round-trip schedule be- tween Vancouver and Skagway, which is the tidewater terminal for a narrow-gauge railway into the Yukon. Madagascar deal set MONTREAL (CP) Dominion Bridge has received an order val- ued at $21 million from Ze-Ren of Madagascar to supply components for a fertilizer plant with a capacity of 300 tons a day, expected to be finished by early 1980. 4 i 3 COFI veteran joining MB "Young too late; old too soon." 5Year Guaranteed Investment Certificates Interest paid annually.

777 Hornby Street Vancouver, B.C. V6Z 1S4 Member of Canada Depoiit Insurant Corporation Fred Moonen has been named vice- president, government affairs, for MacMillan Bloedel company president Calvert Knudsen announced Monday. Moonen, 50, had been vice-president of communications for the Council of Forest Industries for nearly 10 years and had worked at the council for 15 years. He has specialized in government relations for many years and will report to G. P.

Haslam, vice-president of corporate communications. FlRSlCflpmust Formerly City Savings and Trust I. I Ships in port Doman Industries Ltd. reported Monday that its profits soared 52 per cent to a record high of $7.1 million or $1.09 a share in the first nine months of 1978, compared to $4.7 million of 71 cents a share in the same period last year. The Duncan-based forest products company also said that its third quarter was the most profitable in its history.

Net profits for the quarter were $3.2 million or 50 cents a share compared to $2.5 or 38 cents a share last year. Sales for the nine months were up 19 per cent at $83.6 million compared with $70.3 million. Third quarter sales were $32.8 million compared with $28.5 million. The buoyant lumber market and favorable exchange- rates on the Canadian dollar were major contributors to its record performance, the company said. Versatile payout Versatile Cornat Corp.

announced Monday that it has raised the quarterly dividend on its common shares to 10 cents per share from eight cents following a 93 per cent increase in earnings for the first nine months of 1978 to $6,490,000 from $3,362,000 last year. Based on the average number of shares outstanding, per share earnings rose 74 per cent to $1.11 from 64 cents. Nine-month revenues were $231.5 million, up from $176.9 million last year. Bralorne Resources a subsidiary, was a major contributor to the increased revenue and earnings. Versatile Cornat has increased its ownership of Bralorne from 50.5 per cent to approximately 60 per cent.

The first common dividend payment at the new rate, together With a 35-cents-per- share dividend on the series APPOINTMENT lpni BANK CANADIAN NATIONAL Jacques Lagasse, LL.L. Mr. Germain Perreault, Chairman of the Board, President and Chief Executive Officer of the Bank Canadian National is pleased to announce the appointment of Mr. Jacques Lagasse to the Executive Committee of the Bank. A Director of the BCN since 1971, Mr.

Lagasse is a partner in the firm of Lagasse, Lagasse, Lagasse, Carignan Du-rand (notaries) in Sher-brooke. ANNUAL INTEREST 5 YEAR G.I.C. Savings Rate 9 RalM Sublocl to Chano I CP Continental Trust P.O. 10280. Paciiic Centre An Georgia St Vancouver i (604) 684-7548 Agent Cnqulriaa Invited Member Canada tepoM Insurance Corp Wl Positions, Tuesday, by name, registry, berth, agent.

VANCOUVER HARBOR Aegis Topic (Gr.) English Bay 12, Dodwell. Aegis Majestic (Gr.) Inner Anchorage Dodwell. 1 Aleksaodr Seraflmovlcb (Sov.) Lynnterm 3. Morflot. Amazonai (Pv.) English Bay 17, Beaufort Navigation.

Anangel Liberty (Gr.) English Bay 18. Vanport. Asia Gold (Li.) English Bay Asia Loyalty (LI.) Anchor- age 5, Dodwell. Cape Ortegal (Br.) PCT bulk Mount AthoKLl.) Alta. Pool 1, Canadian Maritime.

Pacglory (Li.) UGG west, Kingsley. Pacprincess (Li.) Alta. Pool 2, Kingsley. Pestovo (Sov.) Centennial 8, Morflot. Port Vancouver (Br.) PCT bulk 1, Maple Shipping.

Sunny Wealth (Ja.) Inner Anchorage Empire, Toyota No. 24 (Li.) Pacific Elevator 2, Empire. Vallejo (Pv.) Terminal Dock 1, Beaufort. Velos (Gf.) Sask. Pool 1, Empire.

Weddell Sea (Pa Pacific Elevators 2, North Pacific. ARRIVALS: Falcon Arrow, Edelweiss, Vellejo, Sunny Wealth, Pestovo, Aleksandr Serafimovich, Hotaka Maru. DEPARTURES: Shinsho Maru, Tourmalin Bay, Montana. NEW WESTMINSTER: Bela Mondo (Pa.) Fraser-Surreyl. Nootka.

OJ1 Gloria (Li.) Fraser-Sur-rey6, Kerr. Sea Fan (Sg.) Fraser-Surrey 3, Dodwell. ARRIVALS: Sea Fan. DEPARTURES: rz, wortn raciuc. Cattleva (Ja.) Goodwin Johnson, Vanport.

Dexterity (Pa.) English Bay 4. North Pacific. Eastern Maid (Br.) Sea- board 1, Seaboard. Edelweiss (Li.) Inner An- xhorage Dodwell. I Euryalus (Li.) Ballantyne 1, Falcon Arrow (Br.) Anchorage, Gearbulk.

Fortune Star (Li.) English Bay 10, Dodwell. Global Challenger (Pa.) Sea- board 2, Seaboard Shipping. Grace River (Li.) UGG east, Empire Shipping. Grecian Light (Gr.) Van-; term 1, North Pacific, Hoegh Pride (No.) Vanterm 4, Transpacific. Hotaka Maru (Ja.) Vanterm Jaguar (Li.) Neptune 1, North Pacific.

Kaneshiiu Maru (Ja.) Van. Wharves 4, Greer. I Kate N.L. (Gr.) CPR Dc-r dwell. Kinokuni Maru (Ja,) Roberts Bank, Montreal Shipping.

Korean Jade (Ko.) English Bay 15, Empire. Koro Sea (Pa.) English Bay -7, North Pacific. Long Beach (Pa.) English 11, Empire. Maratha Elegance (In Neptune 2, Greer. MlchaUs (Li.) English Bay 13, Montreal Shipping.

A two per cent interim Increase was granted Inland last August, which increased residential customers' bills by about $5 a year, starting Sept.l. Rio Algom f. TORONTO (CP) Improved productivity, increased volume and MB said he will play an active senior role in the company's relations with the federf 1 and provincial governments. Moonen said he is looking forward to his new job and "although I regret leaving the council, it was certainly done without any rancor." Don Lanskail, council president, said Moonen is the "dean" of government relations people in the industry in B.C. "I'm glad he is not being lost to the Industry." just say you want to fly Western's I Western's and Hawaii stretch-out But to Hawaii.

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