Dearer Newsprint In Canada
(Rec. 11 p.m.) NEW YORK, Oct. 18 Mr Emile Castonguay, president of the Canadian Daily Newspaper Publishers’ Association, said today that, judging by the profit situation of Canadian newsprint mills, there was no justification for increased newsprint prices at present. Mr Castonguay, who is also general manager of the Quebec daily newspaper, “L’Action Catholique,” was commenting on an announcement by the St. Lawrence Corporation of an inincrease of five dollars (36s 3d) a ton in the company’s price, effective on November 1, making the price delivered at New York 131 dollars (£47 9s) a ton.
Mr P. M. Fox, president of the St. Lawrence Corporation, said the firm had gone beyond its ability to absorb increasing costs. In recent years the company had spent more than 30,000,000 dollars to increase kraft and newsprint production. In addition, the corporation had authorised another 9,000.000 dollars for expansion.
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Bibliographic details
Press, Volume XCII, Issue 27794, 20 October 1955, Page 13
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149Dearer Newsprint In Canada Press, Volume XCII, Issue 27794, 20 October 1955, Page 13
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