Lie WEDNESDAY, AUGUST 14, 1974 PAGE B2 THE HERALD, TERRACE, B.C. guide to U.I.C, _ FIRST HALF The consolidated net earnings of MacMillan Bloedel Limited for the six months ended June 30, 1974 amounted Lo $50,217,000 or $2.37 per share ($2.31l‘on a diluted basis) as compared with $50,775,000 or $2.43 per share ($2.41 on a diluted basis) in the similar period in 1973. Sales and other incame were $720,927,000 in the first half of 1974 as compared (o $605,932,00¢ in 1973. - Selling prices for most buiiding materials exceeded lhose levels obtained in the first half of 1973 but escalaling logging and production costs _ resulted in decreased profit margins In this sector of the Company's operations. Lower shipments caused by a reduction in construction ac- livity and production disrup- lions further depressed the profits from building materials. This was, however, offset to a large extent by the. increased profit contribution from pulp and newsprint. Inlernalional and damestic markets for these commodities remained in a short supply position throughout the first half of 1974 with resultant upward movements in price levels. Similar tight markets existed for linerboard and strength in both price and ‘shipments partially compensaled for the . production volume lest during, the first quarter strike a! the Pine Hill mill in Alabama. Despite difficulties in securing supplies, the Com- pany’s packaging operations in Canada, the United States and the United Kingdom continued io increase their contribution to consalidaled net results. MacMillan Bloedel Limited's transportation operations benefitted from high freight rales and sub-charlering op- portunilies (9 significantly increase the profits from this area. ‘The strong market in Europe for fine papers and -hardwood pulp resulted in higher earnings attributable to *partly-owned companies. The earnings performance in the first half of 1974 has’ been achieved in the face of a con- tinuing lower value af the United States dollar on foreign exchange markets and production disruptions at some of the Company's’ major facilities. The labour ‘contract . _ «With the International Wood- ‘ =workers of America expired on looking for: transmission. Speed Queen Washers with lifetime guaranteed stainless steel tubs We're unloading value! Automatic washers now . 398.88 This is the bargain to get with! Popular Speed Queen. washers have all the features you've been 3 cycles - normal, durable press and pre-wash soak; your chaice of water temperature selection - hot, warm or cold wash and warm or cold rinse; large, medium or small laad wash water level; 3-way lint and sediment. removal system -plus alot. more. 10 year guarantee on entire White or Harvest Gald color with lifelong stainless steel tub. Porcelain tub model In white only 368.88: =ATON'S. Terace Bo.” “June 16, 1974 ‘and, following prolonged negotiations, agreement was reached on a new contract involving sub- stantial increases In wages and fringe benefits and the adoption of a cost of living clause. In June the Brilish Columbia Government passed enabling legislalion permitting it, lo change the levels of royally payments on old timer lenures. While ihe level of the new royalties is still unknown, il is: probably that they will result in appreciably higher logging expenses, The legislation also provides for modification of the level of logging tax paid by the forest industry in ‘British Columbia. rn Under the revised B.C, Forest Service guidelines, there has been an important esceiation in logging road costs. Accordingly ‘the Company has embarked on ‘astudy ta determine whether or not its present method of ac- counting for and amortizing its logging read construction costs should be modified, Pending -complelion ‘of the study, a general provision has been made which, afler related in- come faxes, has reduced con- solidated nel earnings by $1.3. ; million in the first half of 1974. - eucalyptus reaching cutting size in from 6 to 7 years: and somewhat longer than that for pines. Brazilian investors will participate in both the plan- tation’ project and the manufacturing phase (0 follow through another company to be formed by MB and Brasean. Improved. profitabilily over the pas! two years has enabled MacMillan Bloedel to achieve an average return on total capital employed of 7 percent for the five-year period ended June 20, 1974. While the recent trend: has been = more favourable, the longer lerm performance has nat reached acceptable standards and it is essential, therefore, that the current level of 10.5 percent be at leas! maintained. Earnings prospects for the balance of the year appear to be reasonably good overall notwithstanding uncertain economic conditions in many of. the Company's . trading markets. t " On July 9, 1974 the Company. completed a privale placement in the United States. of $75°. million (U.S.) principal amount of long term debentures, ‘The debentures will mature in 1994- and will’bear interest ala rate - of 84, percent. Also in July, the Company and INI (Instituto Nacional de Industria) com- pleted arrangements for a minority participation by the Spanish organization in Mac- Millan Rothesay Limiled, a whally-owned -newspring producing subsidiary located at Saint John, New Brunswick: Under the terms. of the agreement INI’ acquires a 35 percent interest ‘in. the en- terprise. An additional item of interest is the agreement reached with - Brasean Limited to undertake a jeint venture involving a large ‘ pine and eucalyptus plantation in Brazil. .The agreement calls for the two partners (o plant an extensive forest thal would -ullimately. be the basis for an integrated forest products complex. The area covered by’ the agreement has suil and climatic conditions that en- courage rapid tree growth with ‘ Langley“Phaoto). Bless This House by Norah Lofts Doubleday and Campany This novel is basically the life story ofa house. Built in 1557, the house influenced the lives of every person who lived in it or in any way came incontact with it. Though this may sound dull, it certainly is not, The author recounts the day-to-day” lives and feelings of the principal people whe lived inthe house ‘from the day of its completion, - when the. apprentice carpenter - murdered a man, ‘until aller World War Il, when a young American traced his ancestry to the family who first occupied the house. a It is a story rich wilh history, tradition, emation , and human foibles. All the characters are sharply drawn with definite personalilies .which clash, H. W.- Grindle, salesman at Reum Motors in Terrace, has received two sales awards in the past two years. In December of 1972 he was awarded the large sterling silver try. (pictured above) which was inscribed ‘Awarded to H. W. Grindle, Grad Salesman, ‘in recognition of exemplary sales Achievement’. The second award came in 1973, a cream and sugar service on a small tray. Salésman in the General Motors chain compile points throughout the year toward such awards.. For every new car sold they earn three. points, while a second hand car sale earns them 212 points,. (Karen grind, keeping the story alive and growing. Woodstock Craltsman’s Manual by Jean Young Praeger Publishers . This book aims to encourage readers {o learn the joy of creating. something uniquely theirown. Whether you'd like to try your hand ‘at woodblock printing, sandalmaking, bronze jewelry; quilting, or needlepoint, or constructing 4 lipilent, the authors try to give you sufficient ‘instruction to guide. you without over- whelming your confidence. The print is large, the illustralions are clear and numerous. The authors have tried to limit their tools and materials to the ar-' dinary, so that you needn't invest a fortune in equipment to begin. : : But I Wouldn't Have Missed it for ihe World ‘ hy Peg Bracken Ilarcourt, Brace & * World Pub. Peg Bracken has written wittily. of the tribulations of house-keeping and of follies in ,the kitchen, In this book she amuses as she recalls her world - Fire Report (August 8, 1974) Prince Rupert Forest District Fire Summary for the week ending ‘August 9, 1974. : The fire hazard increased from low lo high and extreme over the eastern portion of the district (Hazelton to Buras Lake) wilh the remainder ranging from low ‘o moderate. There have been 11 new fires reported in the district this week with the majorily being caused by abandoned or escaped camp fires. —For- tunately all were quite small and easily extinguished. We would like to again remind all outdoor enthusiasts that it is a legal requirement along with a moral obligation to com- pletely extinguish all camp fires prier to leqying.the site. - Have a pleasant .weekend afield. and. remember. the. tall _dreetire eeport number Zenith “Boggle MacMillan Bloedel Report wwe A "ng it ta kak eng rst ig” « Terrace Library Book Reviews , tour, beset by all the prablems commen to travellers - lost luggage, foreign languages, too little leg room in airplanes, ete. This book can't be recom- - mended as a lourist guide, but il ‘should provide some en- tertaining reading. To prevent Formica and Micatta surfaces from being rubbed the -wrong way, heed * this hint, Never use anabrasive or strong scouring powder on these surfaces, Such treat- ment will ruin the finish, Pour tubbing alcohol on the sur face and spread evenly with your hand, Ailow this to sit for a minute and then pour bleach, Spread this over ail - stains, Rinse with clear water, - . Pn nr Efforts to remove fruit and herry stains will bear fruit if you slretch the inaterial over a large bowl and pour boiling waler through the stains. If stains remain, bleach with hy- dragen peroxide or chlorine bleach, Camphor will remove fruit stains from the table linens if it is applied. before the cloth is wet. RATES: Twin 3 or i _ Reserv. Prince George, B.C. BRAND NEW! ECONOLINE MOTEL 1 Person *9 2 People ‘11 9275 - 10th Ave. Sorn Leff ‘at Hwy. .1é and 97 Fotfow to loth Ave. B.C. Federation af -Labour Secretary-Treasurer Len. Guy today announced publication of “A Guide to Unemployment Insurance Claims”. At the same time, Mr. Guy altacked the Unemployment Insurance Commission for continuing {ts policy of refusing to allow claimants to havea third person in attendance ai interviews by benefit control investigators. . Mr. Guy stated: “For several years (the Federation has been fighting for protection for unemployment workers, particularly in the face of deceplion and trickery by some benefit control in- vesligators. We have en- countered many cases where benefit control investigators have misled claimants into making statements which have been used as a basis for denying just claims. We raised this issue with the National Ad- visory Committee and that Committee, composed of em- ployer and employee representatives, recommended acceptance of our proposal to permit: claimants to have a third person of their choice presenl during interviews. This recommendation was rejected by the Unemployment In- surance Commission - an act of complete arrogance by a public _ body and one which showed its lack of concern far ‘justice for ‘unemployed workers. “We are continuing our fighl 13 4 People ‘15 562-4131... Gold color. Speed Queen's Matching adds to savings!” This dryér is bullt-to-last,. that’s. Why Speed Queen puts a 2 year “ guarantee on parts and labor and a-5 year guarantee on the per- macotedrum. And here are some. ‘of the features: time and durable. J. press cycles plus automatic. dry » tycle; extended cool-down in durable press cycle to minimize wrinkling; «3 :heat temperature selections - normal, delicate and air fluff; safety push-to-start switch; large In-the-door stainless - - steel lint screen; long life element. ' Available in. white or Harvest in this matter in every possible way. To assist unemployed workers (oobtain their rights, we have now public “A Guide to Unemployment Insurance. Claims”. A similar pamphlet “Your Rights as an Employee in British Columbia" has been intremendous demand, with aboul 50,000 copies already in circulation. We anticipate a similar demand for this pam- phlet’ fs, ee BCTEL BASILE 4. BENETEAU 4, Ernest Richardson, Chairman und Chie! Executive © Olftcer. announces the election of Basile A, Beneteau as President of british Columbia Telephone Compuny. a A native of Windsor, Ont.. and — a graduate in Elecirienl En- incering from Queen's Uni- ity, Kingston, Afr, Benetedu has been President dnd (Chieh EXeeulive. Gilicer. of Quebee= Telephone since 19676 He will“. assuine his pew duties WHIT BC, | Tel September 1. Mr. Richard-— san Gill cominue as Chairman, 7 : and Chie! Executive Officer of British Columbia Telephone -. Compuiy, . : Aly. Beneteau joined Quehees.- Velephone ti 1948 tnd served will subsidiary. Bonaventule: and Gaspe- Telephone: Co, Lie es from 1953-1 1962, whens he returned to Quehee-Telephome. 2 2° as vive-president (operations): 0° He became an, executive president in 1966 wnt : pointed president an chief exe. coulive aBicer the following year. Mr, Beneteait was elected to the board of directors af BC. Telephone in March, 1973 and is a founding member of the Paurd of Governors of the, University of Quehes, 7... ereanesspeaneeasntmmsnasamammmnl Dryer _ Have a gocd'day wher you —_- , shop from home by telephon with Eaton’s Catalogues