Star-Phoenix from Saskatoon, Saskatchewan, Canada • 34

C6 Business Wednesday, November 27, 1991 Saskatoon, Saskatchewan The StarPhoenix Alberta sees strong recovery in 90s Energy projects could create 430,000 new jobs in 15 years it'iyvnrfrir 3 LL. and exports. Among developments foreseen over the next 15 years: Construction of two oil-sands projects at a cost of more than $4 billion each in northeastern Alberta. New chemical and plastics plants, starting with major ethylene and gasoline-additive proj ects by Dow Chemical Canada Inc. and Alberta Envirofuels Inc.

Completion of 10 forest-products mills. The board predicts hard times will start to go away after a lean 1991. After growth that will register as a feeble fraction of one per cent this year, Albertas economy will start recovering in 1992 with a 3 5 per cent expansion rate, the board says. In anticipating revivals of dormant projects, the board says the energy industry will need two oil-sands developments to sustain current levels of oil production as aging, conventional wells gradually run dry. Move purely an administrative matter Britain loses Jaguar ownership Rates supplied by Money Concepts Sesketoon (306) 6631042 CALGARY (CP) Gradual revival by Albertas top industries will create 430,000 new jobs over the next 15 years, says the provinces Energy Resources Conservation Board.

In a 118-page report to be distributed today during private meetings with business leaders, the board forecasts oil, gas, petrochemical and forestry projects will propel a strong recovery in the 1990s. The board said the forecast is based on 18 months of research, including consultations with industry. The report says lower prices for oil and gas will be offset by free trade with the United States and forest-product and chemical developments. The province will slowly but steadily advance towards achieving a decades-old dream of a stable economy, with a reduced dependence on boom-and-bust natural resource extraction, the board says. The board says 55 per cent of Albertas economic output now comes from retail and wholesale trade, finance, public administration and community, business and personal services, compared with 40 per cent in 1980.

The 1990s will be the last decade for resource industries to be the main engines of the provincial economy, the report says. General decline It is expected the energy industry will continue to be a major source of growth for at least another decade, as energy-related investments in oilsands, petrochemicals and pipelines drive economic activity to the end of the century. But after 2000, a general decline in energy-related investments is expected to be offset by growth in non-energy investments was rooted in Fords acquisition of Jaguar. The transfer of ownership to the United States also means that any future Jaguar losses will be taken into U.S. accounts and wont hit the profit line of Ford of Britain.

This year has proved an extremely difficult year for Jaguar in the face of the worldwide economic downturn. Global sales in the nine months to the end of September were down 40 per cent to 20,300 units. Sales in its two principal markets, the Britain and the United States, were down 45 per cent in the same period. Financial blunder Jimmie Airlie, chief Ford negotiator of the Amalgamated Engineering Union, welcomed the transfer and said Jaguar has been a millstone around the neck of Fords British subsidiary for too long. This is good news for Ford workers in Britain.

No longer will they have to pay for a financial blunder made by Fords world headquarters in Detroit, Airlie said. LONDON (AP) Ford Motor Co. said Tuesday it will transfer ownership of its luxury motor group Jaguar to the United States. The transfer means the loss-making car group will be controlled from Fords world headquarters in Detroit, rather than through its British subsidiary. Ford said through a spokesman that the transfer was purely an administrative move that wont affect Fords commitment to the luxury car maker.

No physical change The spokesman said Jaguars strategy and business plan will remain in place and there wont be any physical change at Jaguar. It will continue to run as a separate and independent company, he said. Ford paid 1.8 billion pounds, about $3.3 billion Cdn at current exchange rates, for Jaguar in a 1989 takeover. In 1990, Ford of Britain lost 274 million pounds or $567 million, compared with earnings of $483 million pounds a year earlier. Much of the loss Half of local users expected to sign Five-year gas contracts may save $50 per year BRANDON, Man.

(CP) This city of about 40,000 people will urge residents to sign five-year contracts with a Winnipeg company that can shave $50 a year off the average natural gas bill, says a spokesman. West Can Gas Ltd. has won the bidding war started when city council decided to take advantage of a Manitoba Public Utilities Board decision to end the Centra Gas Manitoba Inc. monopoly in the province. West Can president Ken Hillman says with the citys letter of recommendation, he expects his sales people to sign up about half Brandons 11,000 gas users.

Companies compete West-Can must still compete with other companies which have been vying for a share of the Brandon market since degregulation in September. The companys task will be made easier if the Public Utilities Board grants a request by Brandon to convert all local users into West Can customers unless they opt out of the deal. West Can is getting its gas from Brymore Energy of Alberta. IBM will eliminate 20,000 employees NEW YORK (CP) The worlds biggest computer company has taken a long-awaited step towards a major overhaul, saying it will eliminate a further 20,000 jobs next year to improve But International Business Machines didnt go as far Tuesday as some analysts had predicted. Instead, it said further announcements would be made in coming weeks, IBM Canada will have eliminat ed 500 jobs by years end, bringing its total workforce to 12,200, spokeman Stan Didzbalis said in an interview from Toronto.

Were continuing to assess our employment level and our cost structure, Didzbalis said. Dollar Values Alberta Stocks gitt 4166, Mexico Peso 000422, Netherlands guilder 6573, Z. dollar .6740, Norway krone 1679, Pakistan rupee .0497, Philippine peso( .04333, Poland zloty( 4 .000104, Portugal escudo .00848, Romania leu( .01975, Saudi Arabia riyal .3043, Singapore dollar .6896, South Africa rand .4117, Spain peseta 01168, Sweden krona .2021, Switzerland franc 8342, Taiwan dollar! 04425, Tanzania shilling 0050, Thailand baht( 4 04499, Trin-Tob dollar .2684, Turkey lira 4 000230, A E. dirham(4) .3103, K. pound 2 0738, S.

dollar 1.1530, U.S ruble! 4 1 9918, Venezuela bolivar 0206, Yugoslavia dinar! 4 .0518 Quotations in Canadian funds NEW YORK (AP) The American dollar took a wild ride Tuesday, first tumbling on gloomy news about the economy, then surging dramatically on word that Germany's top economics aide said the currency's value was too low In Toronto, the Canadian dollar rose against the British, German, French and Japanese currencies and closed up 1-I0th to 87 93 cents US Currency dealers said the dollar slumped early in the trading day on word that a widely followed survey of S. consumer confidence had dropped in November, viewed as a sign of deepening economic malaise The Conference Board's consumer confidence TORONTO (CP) Here are the exchange rates a consumer can expect to pay when buying relatively small amounts of foreign currencies on Tuesday They are provided at II 30 a by the Bank of Montreal Rates fluctuate during the day and may change based on the amount transacted. Rates for maior currencies may be changed daily, but others are updated weekly. An asterisk Indicates official or restricted rates. Australia dollar 9306, Austria schilling .1054, Bahamas dollar 1 1530, Bahrain dinar( 4-) 3 0225, Barbados dollar 5946, Belgium franc 035813, Bermuda dollar 1.1530, Brazil cruzeiro(-f) 00)424, Bulgaria lev( .05663, China renminbi 2179, Colombia peso( 4 001803, Czechoslovakia koru-na( .04454, Denmark krone 1908, Caribbean dollar( .4228, Fiji dollar .7783, Finland mark .2737, France franc 2159, Germany mark 7353, Greece drachma 0067, Guyana dollar( 009909, Hong Kong dollar .1517, Hungary formt( 0)469, India rupee 0469, Indonesia rupiah 000604, Iraq dlnar( 4 3 4374, Ireland pound 1 9756, Israel newshekel( 4923, Italy lira .000977, Jamaica dollar 0704, Japan yen 009096.

Kenya shilling! .040557, Korea won( 001521, Kuwait dinar 4 0059, Lebanon pound( 4 .001295, Malaysia ring index skidded to levels below that of the 1982 recession. "That brought us to the thinking that hev, this dollar has got to go down," said Zlatko Giamuzi-na, a senior currency trader at the Banco di Sicilia's New York office. Traders reasoned that interest rates In the United States, which have been falling for months, must go lower still to stimulate lending and re-invigorate the economy. But lower rates hurt the dollar's value by making investments denominated in the currency worth less. The dollar fell in Asian and European trading until traders heard that German Economics Minister Juergen Moellemann said In an interview that he believed the dollar's exchange rate level compared with the mark should be about 1 6500 marks.

The dollar was trading at about 1 5840 marks when the minister's remarks hit the market Many traders were taken completely by surprise, partly because Moellemann's assertion seemed to go against the grain of German economic thinking A more expensive dollar would mean a cheaper mark, which would tend to stimulate inflation, one of Germany's most feared economic syndromes In Tokyo, where the global trading day begins, the dollar fell 0 23 yen to close at 128 30 yen. Later in London the dollar was quoted at 128 15 yen, before Moellemann's remarks. In New York trading, the dollar fetched 130 15 yen, up sharply from 127 90 yen late Monday. The dollar fetched 1 5795 marks In European trading, down from 1 5835, before the German minister's remarks were reported But later in New York the dollar surged to 1 6115 marks, up dramatically from its 1.5885 exchange rate iate Monday The British pound fell In London to $1 7975 from $1 7995 late Monday Later in New York the pound fetched $1.7730, cheaper than its $1.7945 value late Monday. In Toronto, the dollar In Canadian funds closed down 3-25 at $1 1373 Cdn.

Pound sterling closed down 2 41-100 at $2 0181 Cdn In funds, the Canadian dollar rose 1 10 to 67 93 cents US and pound sterling dropped 1 93-100 to $1 7745 US On the New York Commodity Exchange, gold for current delivery was down $1 90 at $366 20 US. Silver fetched $4 074 an ounce, up from $4 072. TORONTO (CP) The dollar In Canadian funds closed down 3-25 at $1 1373 on Tuesday Monday's close was $1 1385. Pound sterling closed down 2 53-100 at $2 0181 In funds, the Canadian dollar rose 1 10 to 87 93 cents and pound sterling dropped 1 93-100 to SI 7745 Quotations provided by the Bank of Montreal. New York Quotes Dow Chem.

Dupont Eastman Exxon Ford 50' 44 Vi 4644 584 24 Bv Rich Omen shields Of Canada Ltd. Saskatoon dose Am Home 74 Amco Corp Anheuser Bu 534 36' Asa Ltd 49s Avon 40 '4 Bally 4 Beth Steel 114 Black Decker 15 Boemg 44' Bristol Meyers 76 Champion 237a Gen. Dynamics 48 GE 65 Gen Motors 31 4 GenCorp )0' Good Year 48' Hewlett Packard49 164 67 114a 70 49' 105 Vi Chase Mnhtn Chevron Coro Chrysler Coca Cola Deere Disney Minn Min Mobil Northrop Occ Pete Penzoil PepsiCo Phillips Pete Polaroid Proc Gam Raytheon Sears Singer Sony CP Tandy Cp. Texaco Tex Inst Un Carto Union Pacific Stt Wells Fargo West House Weyerhaeuser Williams Co. Wool worth Xerox 87 6444 2044 19' 5844 2944 224 25' 814 80' 367a 174 34 26' 58 284 16 45' 25' 56 16' 24 34 26 61 344 18 15 57 97 35 24 234 394 864 44 34' 72' 143' Block Hanson Homes tk Honeywell IBM Imcera Group Int Multi Intertan Int Mart Litton Lockheed MacDonald McDonnell Merck ACCOUNTANT Individual required for medium sized property management and development group of companies.

Responsibilities include yearly financial reporting for all projects as well as supervision of and assistance with daily accounting functions. The ideal candidate will have formal accounting training together with property management experience, and be familiar with taxation as it relates to property development. Please send resume to: Accountant Box 7480 SASKATOON, SK. S7K 4L4 For expert advice on Self Directed RRSPs CALL Cheryl Dougan 665-5318 or 1-800-667-9744 Confused about the new RSP legislation? Call for our complimentary newsletter. ScotiaMcLeod Trusted Jhvestmenf kMci since 1911 Winnipeg Grain 5 Chicago Grain CHICAGO (AP) Wheat futures prices fell sharply Tuesday on the Chicago Board of Trade, dragging other crop markets lower as traders awaited word on how the latest round of Soviet food ad will be allocated The Agriculture Department said it had received a request from the Soviet Union for a commodity mix to be purchased with $500 million US In aid, but S.

and Soviet authorities were Still Ironing out the details Wheat futures rallied strongly last week and Monday amid perceptions the Soviets would buy a large amount of wheat with the aid, which is in the form of loan guarantees The $500 million US in credits is the first Installment of $1 25 billion in credits authorized last week by the Bush administration. The USDA originally had planned to announce the allocation breakdown last Friday The delay "has started to unnerve some people," said Gerald Zusel, vice-president of 9ram trading for D. and F. Man International Futures Inc Wheat for delivery in December fell eight cents to settle at $3 64' a bushel; December corn dropped cent to $2 39 a bushel; December oats fell 2' cents to $1 26' a bushel. January soybeans fell IVi cents to $5 63' a bushel.

WINNIPEG (CP) Prices closed mixed on the Winnipeg Commodity Exchange Tuesday Commercial accounts were the featured buyers of canola, running into modest hedges, with prices up 20 to 80 cents and January closing at $268 60 Japanese Importers purchased an estimated 6,000 tonnes of canola overnight for January shipment. Inter-month spreading contributed to an overall light volume of trade in flaxseed Hedges were light, and locals were active on both sides of the market Contracts ranged from 40 cents higher to 80 cents lower, with December closing at $190 90 ED Commodities Rye contracts ranged from $1 00 higher to 20 cents lower, with December closing at $92 30 Thunder Bay barley prices ranged from 30 cents higher to 90 cents lower, with December closing at $84 60 Feed wheat prices ranged from 20 cents higher to 50 cents lower with professionals acting as both buyers and sellers. Spread trading added to the total volume, with December closing at $95 90. Oats contracts ranged from S2 50 lower to 10 cents higher, with December closing at $98 50 Western barley prices ranged from 30 cents lower to 10 cents higher, with February closing at 88 30 Closing prices- Flex! Dec 60 cents lower 190 90; March 80 cents lower 198 60, May 50 cents lower 203 00. July 50 cents lower 208 10, Oct 40 cents higher 215 50 CoMku Jan 80 cents higher 268 60, March 40 cents higher 273 00; June 20 cents higher 280 30, Seot 50 cents higher 288 40, Nov.

unchanged 290 00 ftvet Dec. 20 cents lower 30; March 50 cents higher 97 50, May 70 cents higher 100 00, July $1 00 higher 102 00 Barley: Dec 10 cents higher 84 60; March 20 cents lower 88 80, May 30 cents higher 91 80, July 90 cents lower 93 20; Oct 20 cents lower 96 50 N4 Wheat: Dec. 10 cents lower 95 90; March 20 cents higher 99 70; May 10 cents lower 101 00. July 50 cents lower 103 80, Oct. 50 cents lower 106 00.

Ootsi Dec. $2 50 lower 98 50, March 10 cents higher 99 70, May unchanged 104 90; July unchanged 109 00, Oct unchanged 114 90 ftartvy (Western): Feb cents higher May 10 cents lower 91 90, Aug. unchanged 93 Nov unchanged 93 80 Volume of trade 23 040 tonnes of flax; 36.020 tonnes of canola, 1,360 tonnes of rve 5,700 tonnes of barley, 360 tonnes of oats; 14 600 tonnes of wheat; 1,020 tonnes of (Western) barley; total: 82, IX. OFFICE MANAGER Our client, a major rural company, is seeking a mature aggressive individual to assume the position of Office Manager. Reporting to the president, the candidate will possess minimum 3 years experience and present a strong record of achievement.

We are seeking a hands on individual to take charge of accounting, financial reporting, and information and control systems. Excellent interpersonal and organizational skills together with a working knowledge of PC based accounting systems are a necessity. Agricultural background a definite asset. The right candidate must be willing to relocate to a major rural centre within Saskatchewan. riease submit your resumes including salary expectations in confidence to: SASKATOON PERSONNEL CONSULTANTS LIMITED 255 ROBIN CRESCENT SASKATOON, SASKATCHEWAN S7L 6M8 By Richardson Greenthiekls of Canada Ltd.

Saskatoon Feb Apr 371 30 371 00 369 00 369 10 373 80 373 50 371 30 37 80 Jan 280 .40 Mar 13 80 900 580 3.60 CALLS 270 280 290 3.00 SERV1NO SASKATOON ANO AREA FOR OVER 38 YEARS SILVER-Dec 407 50 407 00 402 00 407 50 Mar 413 60 415 50 408 50 413 60 May 417 50 420 00 413.00 4)7 00 COPPER-Dec 104 50 105 30 104 60 104 65 Mar 102 95 104 10 103 20 103 45 July 100 65 10 50 101 00 101 45 COTTON-Dec 56 70 57 50 56 85 57 00 prev. Cka Hh SOYBEAN OIL Dec 19 00 19 22 18 93 19 04 Jan 19 12 19 37 19 09 19 17 Mar 19 44 19.75 19 40 19 5) Low Last CANOLA (Van Jan 267 80 271 20 268 00 268 60 Mar 277 60 275 50 272 80 273 00 GUARANTEED INVESTMENTS HATLELYOUSLEEP NIGHTS xm '82 LTD. AUTO CLEARING 378 40X1 40 373 70X1 379 95 382 75 276 10 X2.75 Mar June BARLEY Dec $4 50 84 90 84 84 60 Mar 89 89 88 68X May 91.50 91 91 91 Move Up 1o Higher Kales Today GIC RATES RRSP RATES CHICAGO WHEAT- JAMES (JIM) McGUNIGAL Saskatoon Motor Products would like to welcome Jim to their Sales Team. Jim's experience with General Motors Vehicles will be a great asset In meeting your new and used transportation needs. Jim would like to Invite past clients and friends to visit him at P.

Due to increased business, Auto Clearing is taking applications for a new and used vehicle salesperson. Heshe will enjoy a full benefit package with excellent potential to earn above average income. Experience in the automotive industry is not necessary but sales experience would be an asset. Please contact RON THOMSON 244-2186 for an interview. CURRENCIES CDN DOLLAR Dec 87 64 04 87 75 87 84 Mar 87 09 87 48 87 21 87 June 86 56 86 87 86 75 86 76 OEUTSCHEMARK-Dec 62 82 63 22 61 61 60 Mar 62 1 1 62 52 60 60 60 91 June 61 44 61 10 26 SWISS FRANC-Dec 70 67 71 37 69 33 69 66 Mar XX XX 66 77 69 10 June 69 54 70 XX 59 JAPANESE YEN: Dec 78 15 78 02 75 60 76 33 Mar 77 94 77 81 75 00 76 12 June 77 79 77 75 80 75 97 BRITISH POUND Dec 1 76 82 1 79 48 1 75 1 76 27 Mar 176 177 00 173 00 1 73 76 June 173 94 174 171 171 42 LUMBER Jan 212 213 209 710 Mar 219 X2I9 50 217 217 40 May 224 223 JO 222.10 222 EURO DOLLARS Dec 95 04 95 95 04 95 06 Mar 95 21 95 27 95 21 95 25 TREASURY BILLS-Dec 95 60 95 63 95 59 95 62 Mar 95 76 95 83 95 76 95 June 95 57 95 65 95 56 95 63 TREASURY BONDS Dec 99 03 99 24 99 99 18 Mar 98 05 98 26 98 04 98X June 97 06 97 26 97 12 97 NEW YORK GOLD Dec 368 368 365 366 715 Circle Dr.

East 242-0276.