The Herald, Friday, July 20, 1978, Page 5

CN president says farmers need subsidies

‘ MONTREAL (CP) — It ia
farmers who need subsidies
to move grain cheaply, not
the rallways, saya Canadian
Natlonal president Robert

veithe railways don’t need
subsidies because they're ef-

ficient,” Bandeen sali}, this...

week in an interview, ..,..: .

:“Tf the Crow's Nest Pass
tates are necessary for
Canada to sell tts grain, the
argument has to be that it is
the farmers who need
protection. Elther way, it’s

the taxpayers of Cana who.
- Will pay.”

: Weatern farmers have

and
"“Toud again this year about

shortages of hopper cars and
shipping delays that could
mean some cheaper grain
will be left to rot.

i ipa of

lem ore

eae lumber, because those
commodities: pay their
way," Bandeen said,

“Jin contrast, graln rates

signed the Crow's
Neat Pass agreement of 1807
in return for subsidies and
land grants. Later they.
began losing money on
grain, and — service
deteriorated,

ss deh al yr
subsides, Our feeling is that

subsidies should go not to the
railways, but to the
producers,"

- Despite current problems, _

Bandeen sald Canadian Na-
Uonal expects to be hauling
about 60-per-cent more grain
& few yeara from now. It la
part of the growth of one of
North America’s biggest
railways, with 36,000
kilometres of track ‘and
profits that shot up last year
to $1361 million from $28
million a year earlier.

Bandeen said CN’s biggest. .

growth will be In data trans-
mission now that CNCP
Telecommunications, jointly
owned with Canadian Pacific
Lid., has won a hotly con-
teated court case allowing it
to interconnect with Bell
Canada and other members
of -the TransCanada
Telephone System.

But railway investment
will, not. be neglected,
especially in resource-rich
Western Canada where CN
plans to increase ita capacity
by building more and longer

dings and by augmenting
ita motive power. tek

“We want to get the best
possible signalling and

since 1974. “We're doing
computer araulatfone at
y-to-day operations to help
us decide where we need new
installations.”

_-st0

‘VANCOUVER (CP) ‘—
Prices were mixed in heavy

trading Thursday on the

Vancouver Stock Exchange.,
Volume at close was.
$431,882 shares,

changed at §3,50 on 2,400
shares and Kalser Resources
was unchanged at $25 on
1,200. Westcoast Tran-

smission Warrants was

unchanged -wt~$8% - ‘and
denne ne Cara
EI: Ras Socesuay ‘97390, NCA Minetals”

‘On. the moms nd
development board, Silver
Standard was up .08 at $1.10

on 194,100 ahares and Suzie:

Mining Exploration was up-

15 at $1.55 on 92,975, Redford :
Mines'was up :04at $1.13 on
61,400 shares and Nuspar
Resources was up .05 ‘at .78
on 73,40. Mosquito Creek
was Up .15 at $2.10 and New
Cinch Uranium was up .20 at.

60. .

On the curb exchange,
Burlington Gold was un-

changed at 25 on 56,000
shares and Neptune
was down ,10 at

Corp, was down .01% at 91%
and lies Mining was up .04
at .27, .

“TORONTO (CP) — The
Toronto stock market was
mixed at any close ot
moderate tra ursday.

‘The TSE 300 index rose
1.9 to 1552.37, an

Financial services and
utilities were strong but’
resource. stocks were
weakened,

Volume ‘was 3,42 million
compared with 4.01 million

W an .

Among industrials: Husky
oll climbed 2% to $60,
Canadian Occidental Pete
4% to $41%, MacMillan
Bloedel 5 to $28%, Union
Gas A % to $11% and Abitib!
Paper \4 to $18%.

. Home Oil A dropped 14% to
$40, TD Realty Investment: 1
$264, Falconbridge Nickel A
1 to $5744, Alberta Energy %
to $20% and Asbestos Corp,
% to Hs.

Roman Corp, rose % to
$3544, Pine Point Mines % to
$4% and Camflo Mines % to
$16%4. Rio Algom fell 1% to
$33% and Campbell Red
Lake Mines % to $2214.

Francana Oil and Gas was
up %a to $15%, Ram Pete 1 to
$1044 and Canadian Superior
Oil % to $13544. Paloma Pete
wap down 1 to $54 and
Scurry Rainbow Oil-1 to
$42%, ; \

Prospects are good for CN

Rail, the division ight

need four times as mucn fuel only clear measure of ef-
to move a tonne af freight.’ \felency at all levels of the

Canada Ine, -will also mean

buge savings, my has also been

com .
singled out by Ottawa's

however, is thinking of,
removing ay mention of!

handles Canadian frailgh ‘Asked how thecostof company. We're not in- But CN wants other bur- commissioner of official lan- railwa from ita corporate
service and accounted last’ sii would bee go before {t ‘terested in profit for profit’a dens removed, It wants guages for alow progress in mame. i
yeu tr $2.06 billion of CN'# paid tp electrify Canada's jake. We're interested In it changes in the way grain. programs. And =“ feellng is that:
-87 billion in 1978 revenues. railways, Bandeon won- jfor-what it moans 1 effi- iranspor! Is paid for, Tt it has come under attack for Cana m National Railways?
. . ow the power would . an . Ww Its controversial $75,000 t what we are!
And despite “heavy be produced. Vali used, | Theprofit picturehasbeen the losses on the Ino. donation to the Pro-canada doing,” said “Banden.
congestion on its main ‘line there lsnotmuch saving. If it (helped by Parliament's foundland railway. And ‘it Foundation, which cam- “We're also Involved int
through the Rockies to ig coal, power would he ‘decision to convert $206 wants the Quebec govern- paigns Quebec in- telecommunications, truck-i
Vancouver, CN has excess, wasted just hauling the coal ‘million of CN debl into ment to take over its oney- ot, ing, hotela and ao on, And we,
capacity to the Pacific coast, ig generating stations, ‘government-held equity, losing Montreal commuter’ — But Canada just would not went 2 name that reflects:
on ita line £6. Prince Rupert, ‘Tf peaple don't care about’ cul interest costa b; Bervice. toe . beCanada without Canadian this better.” H
B.C., which Barideea says 11 deficits, we can’ electrity, ‘about $45 million a year. The These are seen as social National Railways, now 56 A decision on whether to}
underused. - ; . But .look at the financial @keover of intercity obligations by some, as years old, The Montreal- change the name is expected}
the equal of Vancouver as a) Europe and Japan where :
port. And the best thing they are heavily el ied. edi ;
about Prince R is that Japan is heading for — , . : Lt | | f
Canadian Pacific doesn't what? — a lon or g4- ; _ LE i ie ee j
come within 600 miles,” he billion loss this year? Thet's Loo. 1 4 Vs no TT"
bee, more than our. total IVTTTINTITY arta tadadei bibdate Wr ped hep ob ab :
Canadian Pacific isnot the revenues.’ LEPPRPA Pn 7, rbd bd both ds
only competitor; trucking ts Bandeen defended his om W ny pip lb ie ie ;
“We're holding our owmox though it were com- ; “
slightly improving our mercially-owned. CN, in-
of the market as railways, cidentally, isnow showing an

there are certain”
areas % we should be In and
others, we. shouldn't be in.
There are some areas’ that

trucks can handle much rallw

better."
‘Two factors augur well for
the railways . against’:

trucking — a three-year

agreement ratified this year.

by most railway wo

means rates can be set in
advance. And higher fuel
coats put trucks at 4;
disadvantage because they’

British

LONDON (cP) =
Canadians living or visiting
in Britain are in a

2 squeeze
between the sagging dollar,
the éscalsting® pound and
climbing cvats,

- There are 100 pence in the
British pound and, at current:
exchange ‘rates, the

* Canadian dollar is worth just

about 38 of them,

What can you get for the
British equivalent of the
Canadian dollar?

At the neighbourhood
supermarket you can afford

US.
jays. re

“Canada” ls eo dependent
dn transport that it cannot,

havean irefficienteystem, If |

you remove the profit
motivation, you will have an
inefficient system. And ina
country the size of Canada,
the losses would | be
devastating .... :
“Profit figures are the

guests |
feel the pinch

steak, less than half a pound
of bacon and less than eight
ounces of frying chicken.
You can ‘get three' lemons,
two oranges or one avocado,

large gin and tonic will set
you back three times as.
much,

Cigarettes by the carton |

come close to $17 for 200; and.

the dollar covers a bit more .

than a quart of gasoline. ©
At the neighborhood take-

- out, dhe dollar's -worth 2.8 .
8!” cups of colfee or two pinta-af::

Ifthat'stovekpensive;|
make it yourself ;

_ EARNINGS.

Denison Mines Ltd, six
months ended June 30: 1979,
$29,410,000, $1.61 a share;
1078, $36,054,000, $1.43.

Inco Ltd., six months
ended June 30: 1979, $16.5
millon, seven centa; 1978,
$57.0 oillion, 64 cents,

Moffat Communications
Lid, nine months ended May
3131979" | §2'985,..00, 91.28;
1978, 92,500,000, 91.07.

Pamour Porcupine Mines

Alcan Kitimat
- $SmelterTours

_ Weare celebrating the 25th anniversary of our
aluminum smelter at Kitimat. We have
expanded our tour schedule so that you will
have more opportunities to take a free tour
of one of the world's largest aluminum smelters,

canoe! _

anno

~

Lid, six months ended June-
3: WEE, !H'K,27 ,-
a5: hE, 116 ,-063,000,
15.2 cents.

A HILLSIDE |
DEVELOPMENT
* Planned Subdivision |
* Choice Building Lots
* Close to'Town (3 min.)

* Underground Services
_ *Secluded Area

‘* Excellent Exposures

* View Lots |
*Sloping Wooded Lots
* Nature Trail

Phase | available before Aug. 15.
Prices range from 19,000 to 29,000.

— Thinking about
_.. University this fall? 3
4 Simon Fraser University offers you:

“Courses 3 semesters per year
_ beginning September, January
>» and May.

“ @ Individualized program - :
Planning through our Academic
‘Advice Centre and Departmental

aa
Ke .

wr Advisors, .

# 125 evening courses and the
- Opportunity to complete a
degree in the evening if you
choose. ‘

® Progressive and innovative
. Faculties of Arts, Education,
interdisciptinary Studies and

2" ea grialler university setting Science.’ ;
vo ts “ny Where personal contact with’ @ Off-campus programs at Kelowna
nis la professors is buill in to the and Chilliwack.

_ + lecture tutorial system.

© Part-time and full-time
,. .plograms, day, evening and by
cs», @Ofespondence (DISC), ; .
“Sa. 2.) Announcing aninformationtine June 4 through August 1. 8.C. residents _
os _ May call collect for more information. , : .
"Monday-Friday a Admisslon,291-9224 we oy we ekg ah
8.9:90-4:30 eae S82” Acadsini¢ Advica 29{24m565 “7 SE “Sas! bane
icin MayteW Cabana eid (Course Selection) Me ovr s gaat yd
Monday-Thursday All Inquiries 291-4956
an 5:00-8:00 Academic Advice -
ot ” Complete delails on evening, off-campus, and correspondence (DISC) courses ‘
- ape Ihrough Continuing Studias, 291-4565, Monday-Friday, 9:00 a.m.- mote
“6:00 pim. . oe

G stage e

Oe
nyeuon. lecablatbaness

| ‘Admissions Evening July 24,6-9 p.m. -

- Inaddition to regular office hours, stall from Acmissians, Academic Advice and
Continuing Studies will be available to help you apply for admission on a full-
time or parttime basis, Bring official records of previous academic work if
possible. Call Continuing Studies (291-4568) far details. :

Simon Fraser University, Bumaby, 8.6. V5A 186

a

LOCATION

re

ee

Because it's our anni-
versary, we're having -
a contest this summer.
Visitors who take the
smelter tour are eligible to
win one of nine 15-foot
aluminum Springbok
canoes, Adraw will
take place each week dur-
‘ing July and August.
7 Come and see us this
‘| summer see the
smelter and wish us a
.. Happy Anniversary!

OF NEW
SUBDIVISION

ARENA —
“POOL
COMPLEX

LAKELSE

Voll

For further information
please contact:

This contest is not open to employees of
Alcan or theit families or employees of Alcans

ir _
Edge Properties 635-9418

advenising agents.

ih,

ALCAN '

‘Alcan Smelters and Chemicals Ltd