The Montreal Star from Montreal, Quebec, Canada • 67

4m THE MONTREAL STAR WEDNESDAY MARCH 31 1971 Business Today 07 i RCA Limited Appointment Politics and tha stock market Tna FT industrial ordinary index has been rebssed to XX) at the start of each Gomnotcni as indicated Alaska probe cost Home $21 MACMfU AN 00UQLA9-H0MFI I'wi rul: ffl JAtllQ 1957-OCT 11964 af I was $1199 million against $90602000 Home Oil Co has no early plans to resume drilling in the Alaska Arctic North Initially 60 wells previously closed-in are being placed in production and additional wells will be used as Yukon Consolidated of internal or external origin are always a potential CSL negotiated a three-year contract with the Seafarers International Union of Canada covering unlicensed personnel early this year but contracts still have to be concluded with the Canadian Marine Officers Union and the Canadian Merchant Service Guild St Law Columbium cnuachillucn TORY niKr CCT1Q3l-JANad7 Yukon Consolidated Gold Corp says December 31 year net was $74501 or one cent per share against $181932 or three cents a year earlier Results include $14722 profit from sale of securities from like source a year ago) Revenue totalled $190093 ($215597) 's major asset is a 20 per cent interest in Loraex Mining Corp Ltd 4 i WILSON LAB05JR RttE OCT 161964 St Lawrence Columbium Metals says first-quarter net was $154607 against $137176 a year earlier Per-share net was unchanged at five cents The company decided in January to cut mill output because of a slowdown in the steel industry and the buildup of ferro-columbium and columbium concentrates by customers It plans to carry out an overhaul of its mill grinding equipment -JUNE tft 1970 av jifsv Slope oil discovery area where it has already drilled two unproductive wells The company is required to make further exploration expenditures of about $2000000 under its farmount agreement with Atlantic-Richfield covering two land blocks in Alaska Home has spent about $21 million to date including the cost of drilling two unproductive wells In 1969 Home spent $11-011000 to acquire a 25 pc interest in another acreage block In the North Slope area north of the two abandoned wells Company and its associates derided to delay drilling the first well on this tract pending resolution of the pipeline ywiKH of rule Decalta 0 2 4 frhyt-rii I iDgeF41 JAMES LANDON LIKE OLD TIMES: Hie British budget caused a record one-day gain on the London stock exchange But today the market fell back again Western Decalta Petroleums has acquired controlling interest in Western and Texas Oil Co of Toronto Agreements are under negotiation between its subsidiary Provincial Transport Enterprises and its bus employes Contracts between Kingsway Transports and the Teamsters Union covering Ontario and Quebec employes expires next September With the recent signing of a $60 million export contract for three 80000-ton tankers the order backlog for its Davie and Collingwood shipbuilding yards' will require years of high activity to UK eases restraints The deal involved 2021021 common shares and 1178020 preferred shares at 515 cents each Primary asset of Western and Texas is a 297 per cent interest in a secondary recovery project near Wain-wright Alta Csasditm Press St Law Cement St Lawrence Cement foresees increase in our future because steps taken by the government against unemployment should result in an accelerated program of public works Also the decrease in interest rates contribute to an increase in residential LONDON Britain is eas The appointment of Landon as vice-president and general manager of computer systems has been announced by John Hould-ing president of RCA Limited Prior to his new assignment Mr Landon was division vice-president of marketing programs for RCA's computer systems in the US A native of Baltimore Maryland he is a graduate of the University of Baltimore In his new position Mr Landon will be located in RCA headquarters complex at Ste-Anne-de-Bellevue Quebec currency at the official exchange rate for direct investment especially if these can be shown to bring back large profits to Britain and enhance foreign currency ing some restraints on direct overseas investments in Can Federal Grain Siebens Home recently acquired a 15 pc interest in a 120000-acre permit offshore the west coast of Italy Exploration plans are similar to those for an exploration license offshore from Malta in which Home late last year acquired a 2m pc interest A prelim-inary exploration of the Malta acreage will be carried out this year followed by drilling Productive capacity particularly in Swan Hills field area is being increased Federal Grain reports first-half net income was $1824000 or 50 cents a share against $540000 or 12 cents a year earlier Latest period includes $372000 income from investments and $401-000 gain on sale of assets against $118000 and $458-000 respectively a year ago Tax provision was $1964-000 against $588000 Revenue Gin Steamships Canada Steamship Lines said that unforeseen current prospects are for a successful year with a high level of activity forecast in all divisions However problems Store group retrenches ada and other non-sterling countries but has stopped short of extensive relaxation of exchange controls Chancellor Anthony Barber in his first full budget said the changes are comparatively minor and facilitate useful investment without significant cost to exchange Britons who want to invest in Canadian stocks and most other portfolio ventures usually have to pay a fluctuating premium on dollars they obtain for this purpose But they have been able to obtain a certain amount of Investors will be able to get more currency at the official exchange rate for direct investment can be shown that there will be to British reserves Previously the limit was £50000 ($120000) or 50 per cent of the total direct investment whichever is the greater Under the change the £50000 is increased to £250000 ($600000) That will allow the direct investor to obtain larger complete sums at official rates without dipping into the dollar premium Siebens Oil Gas has entered into a farmout agreement with Canada-Cities Service Petroleum Corp covering 8500000 acres off the east coast of Baffin Island in Canada's eastern Arctic region Canada-Cities Service will complete a combined aero-magnetic and marine seismic exploration program this year and will have continuing options to conduct further exploratory work Siebens holds a 635 pc interest in the acreage Sunlight Oil 269 pc and Great Basins Petroleum 96 pc Siebens retains a 100 pc interest in about 3000000 offshore acres north of the acreage farmed out to Canada-Cities Service French name back in Oshawa pool where the premium is now about 17 or 18 per cent In the past it has climbed to 40 per cent or more Parent companies also will be allowed greater flexibility in profit remittances Previously they had to remit two-thirds of profits in each non-sterling subsidiary i each country Now they can juggle the returns increasing or decreasing the flow from one country to another providing the total shipped-back amounts fits the i two-thirds rule British companies will have more flexible use of capital equipment and factory goods shipped to Canada and other dollar countries as part of the direct investment contribution Barber recalled that Britain produced a record $630 milium surplus in its 1970 foreign payments accounts He expected another big surplus this year though possibly not as high as in 1970 These large surpluses are being used to speed up repayment of heavy foreign debts The total shortterm and medium-term debt at about £1461 million last June has been more than halved Britain still owes the Inter-national Monetary Fund about £683 million representing real burden which we have to Hudon et Orsali Ltee one of the oldest names in the The big US department and specialty store group Newberry said last year it had a loss from continuing Canadian operations of $2-229000 against a loss of $603000 the year earlier Loss from discontinued operations was $878000 against $508000 Company said drastic remedial steps have already been taken in efforts to make the Canadian operations Quebec food industry is to be restored and Bonimart a new name will be introduced by the parent Oshawa Wholesale New pipeline study exclusively by French Canadians Mr Hudon formerly executive vice-president of Shop Save (1957) Ltd succeeded the recently retired president Frank A Juno operating language of the company is now French and most head office personnel are either bilingual or taking courses in Mr Hudon said The opening of the two Bonimart stores and the new food market will create approximately 250 new jobs in the Montreal area Further openings of both department stores and food -markets will be announced as site negotiations now under way are concluded Towers department stores would be changed to Bonimart on April 20 On the same day a fourth Bonimart will open in Saint-Jean in the Richelieu Valley along with the first Bonimart discount food market The food market to be called Les Aliments Bonimart will be operated by Hudon et Orsali A fifth Bonimart department store is scheduled to be opened in Place Desormeaux Longueuil five weeks later Mr Wolfe said the new nomenclature was in keeping with the policy of French language names for Quebec retail and wholesale divisions which are now managed and staffed almost CPR a i a Pacific has ordered three 30000-ton freighters for delivery in 1973 from Van der Giessen-de Noord NV Amsterdam The ships will be owned by Canadian Pacific Bermuda Ltd Ray Wolfe president of Oshawa one of a a a largest food and department store merchandisers said that Shop Save (1957) Ltd IGA supplier in the Mont-real-Quebec City area will assume its original name of Hudon et Orsali and that Guy Hudon has been appointed president of the company Mr Wolfe also announced that the name of the three Montreal area Les Galerics Eastern Transmission hopes to have the project operating July 1 The test loop will be operated by Pipe Line Technologists Inc of Anchorage under the direction of the Battelle Memorial Institute The Gas Arctic group is considering 1550 miles of a 48-inch-diameter pipe from Prudhoe Bay to the Mackenzie River Valley and thence south to Edmonton CALGARY (CP) The Gas Arctic Systems study group said construction has started on a $2 million program near Prudhoe Bay in Alaska to study the effects of a natural gas pipeline in the Arctic The test facility consists of a 2000-foot loop of 48-inch-diameter pipe The group involving Alberta Gas Trunk Line Northern Natural Gas The Columbia Gas System and Texas Newberry which does a volume of around $414 milium a year in the US entered Canada in 1967 with the acquisition of the United Stores of Canada chain It now has 214 stores in this country which include 48 department and general merchandise stores Falconbridge Falconbridge Nickel Mines Ltd plans a $50 million offering of 25-year unking fund debentures in the US capital market 4WU" Aj a -sk FIRST QUALITY PINE For Sub-floors Particle Board Six 4'xB PRE-FINISHED MAHOGANY TW0-T0HES FOR SHELVING fx 8" LF 1Bx LF rxio- IS LF mr 22 LF1 WE ARE THE COMPETITION SHOWER STALL Heavy-gauge Steel KITCHEN ALL WOOD CABINETS 50 $44 Also Shelves K-3 $98 HOMEOWNERS Bring your kitchen problems to Lum-berlands and let eur trained salesmen help you plan FREE ESTIMATES Remove chlorine hydrogen ulfide (rotten ngg) tele swampy end metallic tastes and dort from houceheld drinking end cooking water Filtretion i eccomplihed by replaceable octiveted chercoel cartridge Easily installed on cold water line under kitchen sink Cartridge delivers troth tatting "tpring-woter" ter five e-fix monthi before it need changing Every kitchen need on Model PSO-1 $3Q95 Special of the week Pre-finished Walnut Shelves 20 REDUCTION Special Price ON MARKED PRICES WIDTH- 8" -10" -12" LENGTHS 36" 48" 60" 3 MODELS OF STANDARDS A BRACKETS CORNER CABINETS AT IpSTUB ENCLOSURES With With Designs VERY LOW PRICES i end save huild-it year- Let your imagination go self 2 sliding deers widths to S9W' height 37" Last Chance SPECIAL 95 39 LIMITED QUANTITY Stops Sagging Floors MG-A-MAG SHELVES With beautiful WOODEN SPINDLE BEADS String thei on card threaded stool or weed dewl reds It's the inexpensive Inn way to odd new interest to every ream Six styles cheese tram 20 REDUCTION Pick-up valuable spaca Add beauty to your 'dining ar living ream Installation 600 minimum Reversible Frsm S' te SW IIP ON MARKED PRICES 422-Concord 895-Exeter 6614 1909-Dover 9470 2231 -Portsmouth 9470 20 OFF WISE ASOVE PRICES SPECIAL $050 GUTTERS Limited Quantity Model JKS7C Reg $5495 1169 3 Gal At Low-Lumberland Prices ilNll-StMIMSi I newest MOST EXCITING CARPETING FOR INDOORS The carpet tile that can be pkkad ep Wiped off and pvt hack Car- pat filet King sisn 12 12 49 OF 325-2600 Wafer-closet (less seat) WHITE $AA95 29 9055 PASCAl-GAGNON BUSINESS HOURS BIDET Complete with mixing-valve spray pap-up WHITE COLOR rt SO FT Saif adhe Seats: $385 $895 MON-TUH-WII R3Saah-Spn THURSDAY- RIDAYl 130 anb-e pm SATURDAY R3D ank-S t-n MMTI 2tL each 1st quality tive cnlevrs ST-LEONARD each MINfOUTMIJ ms mpnmms MAriuw iiiiiMiiui i ppmm titjk4swswiiiaiK4edm meet tdm AtimmUii ufabi Mr ill ids niiA WT: i 1 I I i).