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(CP) — Members of the United Steelworkers of America at the Quintette coal mine near Tumbler Ridge, in northeastern British Columbia, have voted 61 per cent in favor of accepting a three-year contract. The agreement with Quintette Coal Ltd., 50-per-cent owned by Denison Mines Ltd., gives the 1,100-member union a protective wage clause tied to the price of coal. The last contract expired in late May. “If some unforeseen improvement takes place in Canadian coal market, the workforce at least has opportunity to meet with the company about increasing wages for the third year of the contract,” John Sanders, Quintette Coal vice-president and general manager said. But Sanders said he doubted coal prices will rise enough to merit a wage increase. In July, Japanese steel mills won an $8.50-a-tonne price cut on the coal they buy from Quintette, the largest of two northeastern B.C. coal producers. The price cut means Quintette will receive $93.50 a tonne, effective through March 31, 1987. Denison has been trying to renegotiate terms of Quintette’s $816-million debt with bankers. Mediator Vince Ready recommended last week the new contract include the wage clause. With Ready’s assistance, the company and union also came to an agreement not to alter shift starting times in the mine operation and to implement a different schedule for maintenance workers in the processing plant, Sanders added. The ratified contract contains a first-year wage freeze, a one-per-cent increase in the second year and a two-per-cent raise in the third year. It also gives a $4-daily transportation subsidy to employees who live in Tumbler Ridge and work in the nearby mine and processing plant. NATIVE MILLIONAIRE Eddie Gruben Arctic's first TUKTOYAKTUK, N.W.T. (CP) — A stuffed wolverine glares down at visitors from a perch high on the living-room wall of Eddie Gruben's immense log house. Nearby, the face of a Gruben grandchild graces a computer-generated wall hanging, the kind sold at shopping: mall kiosks. Eddie Gruben, slouching in an easy chair, baseball cap and dark glasses shading his face, may be the Arctie’s first native millionaire but the family home is singularly unpretentious. A stranger appears uninvited on the doorstep and is quickly ushered in. A daughter works in the kitehen and grandchildren drift in and out. The house — it would be ludicrous to call a 300-square metre building a cabin — is Gruben's only real indulgence IT’S ALANDMARK Sitting at the foot of a pingo — a dirt-covered hill of ice heaved up from the permafrost by the thawing and freezing process — the home is a landmark in Tuktoyaktuk, a dusty village of prefabricated, government-built houses and oil-company camps on the shores of the Beaufort Sea. The house stands on the site of the 1920-vintage log cabin that belonged to Gruben’s adoptive parents. Gruben remembers when a bureaucrat in Yellowknife, who administered land use in the village, wrote and told him he had no right to build on the land. “I just went ahead and built it anyway,” Gruben said The story says much about the 67-year-old Gruben, whose life reads like Horatio Alger under the midnight sun A grade-school dropout, his independent streak helped him build a thriving transport and earth-moving business, starting with a second-hand dump truck Gruben was one of four children born to a white trader, John Gruben, and his Inuvialuit (Mackenzie Delta Inuit) wife. QUIT GRADE 3 He was given up for adoption to a native family and his childhood was marked by grinding poverty. Orphaned at the age of eight, he dropped out of school in Grade 3 to live with a white trapper. Gruben took odd jobs, including unloading Mackenzie riverboats. After one stint he overheard the captain tell the mate: “Just a minute, I have to pay off those bloody Eskimos.” Gruben decided he would never again work as a wage laborer. He was a successful trapper, but also did guiding for the oil companies that were just beginning to explore the Arctic. He took his money and started a taxi service with an old pickup truck ‘The money from the taxi was sunk into the used dump truck, which he contracted out to construction projects. Soon there was a second truck, then a fleet, as well as his own earth-moving equipment PAYS IN CASH Gruben's dozen trucks, four graders, eight front end loaders and 10 bulldozers are parked more or less in his front yard, where he can see them through a big picture window A shed that houses E. Gruben Transport Ltd. is just below. He pays cash for everthing. He plunked down $124,000 in front of a stunned Edmonton equipment dealer when he bought his first two earth movers. The frontier millionaire’s unostentatious manner has fazed more than one salesman. There was the time Gruben went to Edmonton to buy an airplane for his son, who has just received his pilot's licence. Confronted with a middle-aged native in work clothes and rubber boots, the aircraft salesman excused himself and disappeared Gruben and a pilot friend waited 30 minutes, then flew to Winnipeg where Gruben bought a plane on the spot for $90,000 — in cash The Grubens — seven children, 37 grandchildren, one great-grandchild — are & close-knit family. Most work in some part of his business holdings. including a fishing lodge about 40 kilometres from Tuktoyaktuk. Gruben dotes on his wife, Alice, who suffered a serious heart attack more than a year ago and is still recovering JOBS FOR LOCALS The town also depends heavily on Gruben's business. It employs about 100 people in good times, but may feel a pinch as the oil business falls off. The local hope is that financing will come through to build an all-weather road between Tuktoyaktuk and Inuvik, about 130 kilometres to the south. If the project goes ahead, it would be worth more than $70 million. BUSINESS A Te ro Canadian Press The shares of a tiny, little-known for less than a dollar earlier this year Another company that has aly to ota’ But ith share prices at record highs and a bull market that has posed Sr ‘What caused the drop? Ahed's microbiology venture was highly risky and speculative. ‘The party was over. four years, there have been John Ing, president of the investment firm of Maison some notable the usual pr Canada Inc., says Ahed is a perfect example of WARNING BY TSE In the above two examples, Ahed Corp, and a Ine., examiners from the jes and warned ii from the Toronto Stock Exchangé have restricted margin trading — buying on credit — in shares of purely on its potential rather than its earning performance. ‘The company has been losing money all year but is to be extra careful. developing » type of home shopping through cable TV. Ahed, trading as low as 77 cents « share earlier thie year, was a near-moribund company that was purchased and refinanced by its new owners June 8. It went back on the market at $1.15 and promptly rose to $8 before the TSE halted trading to check for in! None were found and the s voir went back on the market Oil industry ‘dismal’ CALGARY (CP) — Mid- year financial results that have begun trickling out of oil company headquarters paint a dismal portrait of Canada’s petroleum industry. Almost all the firms re- porting so far have suffered drastic income drops. Several have moved well into the red, due to a 60-per-cent slide in the price of crude oil during the last eight months. It hasn't surprised anyone that Dome Petroleum is the biggest money-loser so far. The former high-flyer lost $182 million in the first six months of 1986, compared with a $21-million loss during the same period a year ago. Dome's second quarter was especially bad: its short- fall was $110 million com- pared with a $2-million profit for the same three months of 1985. “Those are big numbers but they underline the prob- lems of the whole industry,” Wilf Golbert, a Calgary oil analyst with Peters and Co., said in an interview. Golbert said the same plummeting oil prices that have pushed at least 20,000 people out of work this year have also made it impossible for virtually all petroleum firms to improve on their 1985 financial results. EARNINGS FALL Earnings for Imperial Oil. Canada's largest private-sec tor oil company, fell 33 per cent to $189 million during the first six months this year. Teck drops price VANCOUVER (CP) Teck Corp. has reduced the price of the coal it sells to Japan by $9 a tonne, Teck senior vice-president Bob Hallbauer said For the coal year which began April 1, 1986, Teck will ship coal at $94 a tonne. Teck has been shipping at full con tract price of about $103 a tonne since April. The Japanese steel mills will take 95 per cent of con tract, or 1.615 million tonnes in the 12 months from April 1, 1986. In the last coal year, Teck sold at an average $93.80 a tonne. But it shipped an additional 200,000 tonnes of coal, or about 1.9 million tonnes in the year “The mills asked us for a price reduction,” Hallbauer said. “They said the full-con. tract price was too high “It's a 15-year contract and in the interests of long-term harmony we complied,” he added. Tech's Bullmoose mine is the smaller of the two mines which make up the northeast B.C. coal development Quintette Coal Ltd. op erator of the largest mine cut its coal price by $8.50 last month to $93.50 a tonne. B.C.’s southeast mines sell coal to Japan at just under $70 a tonne. Volumes in the southeast have also been cut back more sharply to about 50 per cent of contract com pared to 95 per cent of con tract for Teck and Quintette. ah exclusively on pro- Smith, who is Proc omg of the Association of In- vestment Clubs, has prepared a set of stock selection guide lines. Here are a few: ~ Do not, as the uninformed do, assume that # $1 stock is duction — once a lucrative sector of the petroleum bus- iness — for their income. When oil pres began sliding, firms with gasoline marketing divisions ex: samen $58 million after $94 million last year. Husky Oil's six-month earnings fell to $48 million million. Petro-Canada, the last of from $58 : safer than a $100 stock because the most it can fall is a $1. Don't buy « company's shares when there are no earnings. “This is simple common sense,” Smith says. “Would you buy a car without an engine and expect it to run? Such a car can run if it has a push.” Some stocks do get a push but “no earnings means the same thing as no million ‘engine in a car.” - Before you leap into a deal, take the time to learn a company’s 's products and outlook. It rarely pays to aoe tntca deal ifit te supposed to be one of those that won't ~ And finally, an sounds too good to be true, it probably is. paid for this newspaper, we have something in common. = Wea rt _ in fact, every you see int And what we paid went towe vara the the o a lot cheaper for you to buy. How much cheaper? would cost you about five times as much. ‘And offer you about half as much. paid handsomely for the privilege of being here. st At of producing the newspaper. Which made it ? Well, if you took all the advertising away, the average newspaper After all, advertising informs you é about new products. It helps you make smarter decisions about what to buy. Often it « »nlightens you. Sometimes it entertains you occasionally it annoys you. But if it does, you can take advantage of one of ean pages ner pro we ly feel ay But we'll std cant tx mous vewepent ANOTHER WORD FOR FREEDOM OF CHOICE.