Cooper wins safety award Don Young right manager of industrial relations for the Cooper Tool Group Ltd of Barrie accepts presidents award from Industrial Accident Prevention Association fAPA outgoing President George Masson on the opening day of lAPAs 62nd Annual Conference at Torontos Royal York Hotel Cooper Tool earned the award by tapping l6 firms in contention for the provincewide safety honor mm By IOlil GREENWOOD Its socialist cliche to say businessmen should not work for their own profit but for the good of society as hole Now what dumb thing to say that really is But then the entire concept of socialism is dumb so suppose its to be ex pected Actually its crock of Fabian poisoning this saying things that sound bright and beautiful and loving and tenderhearted and all the rest of the claptrap Fabians Oh they were socialist society that started in England during George Barnyard Shaws time Theyll even support onservative if they think hes foolish enough to believe their nonsense Hence the term Red Tory What the Fabians do is work from within Just like wood lice They have been likened to the Mafia in the sense that they are the big shots who dont do the actual killing but use some musclebound idiots to do that The ommunists who were virtually started by Fabian ideas through Lenins reading of their literature not Marxs as is usually suppos ed are the equivalent of the musclebound idiots who do all the terrorist and revolutimiery work in the West for the siml ing Fabians The wellmanicured Fabians never raise their voices lIl vulgar politics they just stay quietly behind the scenes in the great brain laundry they started The Fahians thus regard most of the millions who swallow their socialism including the Communists as mental rabble You see the Fahians dont practise what they preach Oh no Not by long shot They were and are typified by Barnyard Shaw Im sorry Shaw lovcrsi he could come up with some good Irish Blarney and his gift of the gab did produce some Ionly somci entertaining plays but essentially he was farmyard socialist who used the stage as political forum Im sure youve read George Orwells Animal Farm in which all the animals rebelled againt the farmer who took all their eggs and stuff and lived high on the hog the animals were put up to their revolution by the pigs who ultimately took over the position the farmer occupicd and lived high themselves in his mansion Some are more cqu fl than others they explained when the animals complained that thing were worse than when the farmer was their boss Well thats the Fabians and Shaw was one of them And just read about how he certainly didnt put his money where his mouth was So if youre still with me thats what Far bian poisoning is all about BLSIN ESS AND SO lElY Back to businessmen and society The point is if businesman creates service or product he not only makes Dollars sense we By RALPH ALEXANIHCR Dear Sir Looking at the current level of the Dow Jones average think it might be an appropriate time to invest on the lS stotk market However with interest rates at current high levels bonds appear to he an attractive investment without the risk of capital loss involved with stock investments At this time which represents the better investment stocks or bonds SH Dear Sir Your question cannot be answered in such general terms as the choice is not between stocks in general or bonds in general but between particular stocks and particular bonds There are Certain stocks which over the next six months will double in value ill knew which ones would be retiring in October this yeari There are also certain bonds which file to the danger of default represent much riskier investments than most common stocks As with all investments considerable research is necessarv to select the specific security involving accep HUN Mllltll ll HISOI HATE lillSlOt Holden orpiiration it per cnt mm chm1 $1000 bond Gurmnian orp it pert int MN shares ptl $l OOH bond 1iisi1cu9 Hpcrccnl 11m on we As can be seen the purchase of the Reldeii Corporation security provides current interest yield of it per cent and the option to convert the bond to 40 shares of common stock of fielden Corporation If the share price of Ilelden were to By ARL leGlRSE Its way of getting two nights hotel accommtxlations for the price of one company called Interna tional Travel ard gives guests in selected hotels and motels in North America and Europe second nights lodging free of charge The only requirement is that guests pay the standard rate for the first night the second night is on the house says represen tative Gary Beutler of Midland People are always skeptical of getting something for nothing but thats what it is lfcutler said in an interview It costs andians $30 year to belong to the plan In the United States its $25 RECOVER El FEE Ileutler notes the member ship fee is recoverHl the first time guest stay two nights for the price of one Third and successive nights cost the stati dard rate In Simcoc ounty four establishments are inolved in the plan Lake Simcoe Motel in Barrie Oro arihou Motel in Oro Station Knights Inn in rillia and Highland Motel in Fabians poison socialists dumb profit but in so doing is indeed working for the good of society He may not even realize it himself But once per son creates product or service that others will pay for hes automatically doing good by society He provides employment fills need or desire and increases the wealth of his sixltly f1lt lic producing And it he doesnt make profit how the heck long do you suppme hed be able tocairy on doing all that good work Lets take the ultimate case where man decides hell gic all his profits away The more money he can make If better ll will be Yes For cvcrybixfy else mean Very well hes got to keep making profit If he doesnt hes back to being merely dependent upon someone else for his ticetls It everybody else is in the same boat whos going to be able to take time to feed him and look alter his needs Nobody Hes going to have to fend for himself or die v11tllfiftlslfttliot tom line And if Henry Ford for example l1tttltfttltlttl to give all his profits away as fat as he made them youd never even lltt heard of him his and other ttillllltlllll could never have grown In other words mans first duty is to hiinslf lnless he is successful and healthy himsclf he cant help anyone The trouble is society gets so complex that most pctiplc lose sight of fundamentals Like thcduininy Karl Marx who thought that the clothes he wore and the food hc ate and the ink he used in his pen he scribbled garbage with and the shelter he lived in and soon and on his writings show that hit in effect thought products all grew on trees or something We still hear the same thing even from mixlernrday politi cians who prate about sharing the wealth as if tha wealth were there for picking off bushes or the ground lht wealth is there all right lint somebody has to dig it out of the ground or nurture new iindustriali plant before anyone can use that wealth or be helped by it After all the Indians were here for thousands of years before us But never heard of Jacques articr being met with adillac driven by big chief who had an oil clf near his tepcc So it comes down to pretty good motto to live our lives by Ilelp yourself first and youll help others If you try to do it the other way round well be lucky if we end up living in tepees And if some government gangster keeps stealing your profit by taxing it away to buy votes with to stay in power to steal your profit What an Otilllllll ffooltliii bird situation were in Thats the bird tlia flies round in ever decreasing circles until it disappears within itself isnt it So should businessman work for the good of society The answer is if hes businessman making profit he already is doing that What else do you want llis hidc Skin him and youre skinning yourself Which best buy stocks or bonds table risk as well as sufficient profit poleiitial Rather than select between the high currintuintmcst yeilds of bonds or the capital gains potential of stocks you should give consideration to hybrid form of securitv fhc convertible bond Like any other bond the convertible bond pays fixed rate of interest to the investor flowever the vehicle also offers capital gains potential as the security may be converted into stock of the issuing corporation at predetermined price during plttltltlltllllttl period the conversion periodi As result the market value of the bond will tend to increase if the valucof the common stock increases If the bond is purchased for its issue price $100tii or less its value will generally not decline in response to declines in the value of the common stock This is because the fixed in tercst return supports the market value of the bond However like any other bond its market value will decrease if general interest rates increase few examples might illustrate the potential of these 011 lltltlIVllltu MAIIIICM lll lltltlLNlSlOtK ULMUNII VIIELI lltll lI ft t1 pci rent 11 Soto t1tipciccnl ffi Slim ii cent 12 llllt1St by 50 per cent to $35 the value of the bond would in crease to $1400 for 42 per cent profit At the same time if the price of the stock were to decrease the value of the bond would decrease at slower rate due to the income provided by the lIXttl it per cent $80 per year per$t000 bondi yield Midland There throughout anada More than 600 hotels and motels in the United States are involved Ileutler says iii cluding some that charge up to $100 night for lodging More than 200 inns in dif ferent countries in Europe also accept the card he says are 52 Selected hotels artici atin Card gets two nights for one Beutler says the card can be used at participating Holiday Inns Raniadas lfilton Inns Best Westerns and Sheratons AllltATEl ilESTS Hotels and motels get involv ed in the plan because it at tracts guess some of whom will stay for more than two nights he says Brighter outlook for pulp industry with slumps end VANCOUVER II Forest companies in British olumbia have at least one thing to look forward to in 1971i twoyear slump in pulp prices apparently is over Starting April companies which produce pulp posted minimum prices of $415 USA 1011 $20 increase from the price in the first quarter of 10751 The prices this month have not been matched since early 1077 About year ago many of Rt 20 piin mills either were stopping production wriodically or slowing to cope with pulp inventories double the normal level The bargain basement prices of 15177 and 10711 which slumped 30 per cent to about $315 1a ton are seen as factor contributing to the present improving picture Ross lIay Roe forestry analyst with Iemberton Securities said in the companys recent institutional review that demand for market pulp is price elastic He explained that companies which require pulp for the production of fine paper and tissue tend to abandon their own pulp production and the purchase of waste paper when international pulp prices become sufficiently low In 1973 and 1970 $¥Kiplus prices drove many buyers away from the market and vanishing demand forced pulp prixluccrs to lower prices to more attractive levels lltlilllll IRE SE The ll miniiniiin pulp prn still is lltltl tfic Scandinavian price of Edit ton but producers are predicting another prici lllt rcasc in anada by lflt end of this year In real terms p1in prices now are cfieapcr than in 1117 and 11170 litcause of inflation and the international exchange rate Major stronger OltlS lllltlltltS buy iis now IIIIlttl with are buying the anadian product at lower prices The Japanese major pulp purchasers are buying anadian pulp for io per cent less than in early 1077 West Germany is saving 11 per cent and the nitcd Kingdom 17 per cent All major 1H3 liroihiccrs are expected to benefit from the heavy ovctscas demand for piin One company that may gain dramatically is anadian fcllulosc to owned by the 1H orp Resources Ltd it per lll liiycstiiient Sales from the company new $111 million pulp mill in the north coast community of Prince Rupert should help it ticoc from its trouble plagued performance in 12m anadian ellulose reported net carnings of st million last year compared with $17 it million in 1077 and blamed the 1117i igiires on low prices for softwood lilcachcd kialt pulp and high operating costs to start up its Prince Rupert mill The mill is two year piojcct which will increase the companys pulp production to Hon tonsdaily from Him lions Dominions profits up to record level MONIRIIAL itli Third quarter profits for Dominion lcxtilcs Inc were the highest for any single quarter in the companys history company president Thomas It llell an iiounccd Wednesday liofits for the quarter ended March Ill were $77 million or 02 cents share up 44 per cent from $54 million or 09 cents share for the third quarter last year Sales were $15107 million it per cent more than $1457 mil lion for the third quarter of f5l7tl llcll said in an interim report to shareholders that business conditions in anada continue to be very favorable and all For second straight year plants are operating at capac ity Dominion lcxtiles capital expenditures for the year are under review and given continuation of stable business conditions the more satisfactory rate of return now being realized will probably justify more investment than the average spent in the past few years he said lrofits for the nine months ended March 11 were $13 11 mil lion or $1 00 share up 15 per cent fioin $11 million or $1 30 share year ttlllltl Sales for the nine months were $17M million aii increase of 17 per cent ovcr$40tit1 Illll lion in the corresponding period in 111715 Its also good publicity for the wtablishment Beutler sys because members get direcory of participating hotels motels and inns and will likely lodge there if they are in the area In Simcoe County reaction to the plan has been little slower than we expected the representative said He says this is because the plan has only been operating in Canada for five months and people are still wary Interna tional Travel Card has been operating in the United States for three years Beutler says the plan is par ticularily good deal for people who move around on their vaca tions and spend two nights at each hotel Its also valuable and fully tax deductible for businessmen who travel often or people who visit cities for weekend he says Annual father and son banquet The Barrie Christian Business Mens Committee held its annual fatherson night last night at the Holiday inn Special guests seated at the head table are on the right Larry Offner guest speaker from the Intervarsity Christian Fellowship in Toronto and Alan Roberts singer from Newmarket T2 explain available aid Government opening information offices tllAA li Eight addi tional offices will he opened across anada this month to provide businesses with infor mation on government aid pro grams Robert Andras chair man of the board of economic development ministers an nounced today Establishment of these of fices like other business related annoiincements made so far by the Liberals in the election campaign were in the works long before Parliament was dissolved for the May 22 election statement prepared by An drass department reminds businessmen the Liberal gov ernment has been providing them $6 billion in aid annually and the information offices will help them to make better use of these funds The new offices will be lo cated in St Johns Nfld har lottetown Fredericton Mon treal loronto Winnipeg Re gina and Editionton Offices were earlier opened in Ilalifax Vancouver and Ottawa Andras also released 28117 page handbook called Assistv ance to Business in anada tAllti containing information on how businesses can obtain government grants Ali is handy guide de signed to help the business coin munity have easier access to federal economic development programs as well as those tax incentives and services which encourage economic develop GM largest indus NEW YORK AP General Motors Torp for the second straight year stood atop For tune magazines annual list of the 500 largest industrial com panics in the United States Fortunes 151711 list appearing in its May issue and released Wednesday shows GM with 111711 sales of $til2 billion re taining its lead over second ranked Exxon orp the worlds largest oil company which last topped the Fortune list iii 1070 For changes in rank among the top 10 iiidustrials 1t17t1 was the quietest year in decade General Electric rose to eight from ninth displacing Gulf Oil Corp which slipped from eighth to ninth Gulf re mains the fifth laigest oil company Standard Oil ompany of Ohio rose from titith among all indiistrials in 11177 to 41rd in 1078 as increasing shipments of its Alaskan cmde oil swelled the companys revenues to $52 billion from $35 billion year earlier Among oil companies Sohio rose to 1511i from 19111 oiporate mergers continued to produce major changes on the Fortune list lllSlEST MERGER YEAR Ien former Fortune 500 conir panics were merged into or ac quired by other members of the elite club That made 971 the busiest merger year since 1968 when 23 Fortune 500 companies were bought by others on the list In 1977 six companies dis appeared from the Fortune list by merging with other top ranked firms The largest corporate pur chase among the lists mem bers last year was the $595 million acquisition by 182ml inent in anadaf Andras said Some of the other Liberal programs welcome to business which have resurfaced during the campaign are S30ti million in aid to high technology industries first an nounced last year business notes ontinuation of tax in centives to companies wishing to develop the Athabasca oil sands in northern Alberta Endoisement 0f construc tion of pipeline to carry Alas kan oil through Canada to the United States CAE awarded $25M contract MONlREAL 111 CAE Electronics Ltd has been awarded $2 5million contract to develop and build super visory control and monitoring system for an Italian nuclear electric power generating sta tion The computer control sysr tem for Nucleare Italiana Heat tori Avanzati is based on the configuration and design of control systems developed and built by AE for Atomic Energy of anadas Candu nu clearpower plants Honduras airline orders Dash7 TORONTO 11 Servicio Aereo dc lIunduras SA largest air carrier in Honduras has placed an order with de llavil land Aircraft of Canada Ltd for Dash7 aircraft for use on scheduled domestic passenger services The order brings to 47 the number of sales and options for the comparatively new Dash7 short takeoff and land ing plane Company changes name iirussisstviitav Ont icio The board of directors has an nounced that all regulatory bodies have approved the change of name and stock ex change listing to Grandma Lees Inc from Nocana Ltd The company says common shares will be called for trading on both the Montreal and Alberta stock exchanges Cominco announces increase TORONTO itlI ominco Ltd has announced an iin iiiedialc price rise for lead metal sold in the Inited States The company said the fourcent increase will bring the price of one pound to 4H cents in US funds ry Fortune ranked ohnsM anville orp of linkralt orp ranked No 4711 on the 1977 list Chrysler orp held on to the No10 spot but the thiidlargest 1S automaker led the list of industrial money losers with to tal losses of $2046 million on sales of $136 billion While Chrysler lost millions the Fortune 500 companies as whole were doing well Ninety live per cent of the companies on the list had sales incrmses last year while net profits ad vanced by 17 per cent over 1977 levels Fortune defines an industrial as company which derives more than half its revenues from manufacturing and or mining Thus American Tele phone aiid Telegraph is ab sent from the Fortune 500 list even though the utilitys reve nues in 19711 totalled $417 bil lion But AITs Western Electric Inc division the Bell Sys tems iiianufactuiing arm took the 17th spot on the Fortune list Western Electric with 1978 revenues of $95 billion moved up from 18th year earlier while ontinental Oil Co dropped to 18th from 17th place