Lethbridge Herald, The (Newspaper) - April 4, 1973, Lethbridge, Alberta
24 THE IETHBRIDGE HERALD Wednesday, April 4, 1973 Slight gain made in stock prices cents to and North Cana- dian 10 cents to Peyto gained 10 cents to and Merland six cents to TORONTO (CP) Prices on the Toronto stock market moved fractionally higher in moderate mid-morning trading today. The industrial index, consid- ered a major indicator of mar- ket trends, was up .10 to 223.59, golds -75 to 242.91 and base met- als .25 to 100.38. Western oils, however, were down .85 to 244.94. Volume by 11 a.m. was 717, 000 shares compared with 000 traded at the same time Tuesday. Advances and declines were about even, 107 to 106, while 160 issues remained unchanged. Real estate, steel, food proc- e s s i n g and communication stocks recorded gains while beverage, oil refining and util- ity issues were lower. Peel Elder was up to MacMillan Bloedel Vz to Stelco to Robinson Little 35 cents to and Reed Shaw Osier to Nova Scotia Savings was down to Woodward Stores A to New Provi- dence six cents to 35 cents, St. Maurice Capital five cents to and MTS International three cents to 82 cents. Placer was up to Craigmont 10 cents to and Pamour 10 cents to Deni- son was down to and clines Anglo United 12 cents to today Ranger lost 1% to S27, Pan j The noon Dow jones average Ocean te to Decca 15 j of 30 industrials was up 1.28 to 929.03. But declines held a three-to-two lead over advances in moderate trading on the New- York Stock Exchange. Canadian issues generally were lower. On the NYSE, Seagrams dropped to S43V4, Granby Mining to and Massey- Ferguson to Alcan was up Vt to and McLntyre 1 to MONTREAL (CP) All sec- tors except utilities advanced in light trading on the Montreal stock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, compared with shares at th; same time Tues- day. Banks gained 1.01 to 273.78, industrials .09 to 243.98, the composite .51 to 231.12 and pa- pers .22 to 120.42 while utilities dropped .34 to 160.99. On the Montreal Stock Ex- change, Pacific Petroleum dropped 1 to and Hudson Bay Mining and Smelting to while Imperial Oil gained to and Stelco to On the Canadian Stock Ex- change, Panacan gained two cents to 43 cents on shares. NEW YORK (AP) The stock market attempted to re- verse a three-day string of de- and prices were mixed Robert Zoeteman of Fort Macleod, ot the halter, ac- cepts the Canada Packers trophy from George Chessor during the 1973 Spring Bull Show and Stale Tuesday. Grand Champion Hereford butt Southern Alberta Hereford Queen Wendy Miller of tefh- bridge holds the banner on the animal which also placed first in its class and won the Junior Champion ribbons. T> Miscellaneous quotations JL JL Vancouver, Calgary. Montreal Bill seeks cheap drug substitute EDMONTON (CP) Pharm- acists would be allowed to sub- stitute a cheaper drug for that prescribed by a physician provided the active ingredients and dosage are the same under a private member's bill which has been introduced in the legislature. Gordon Taylor heller) re-introduced a bill which, he said, would save Al- bertans, especially older peo- ple, thousands of dollars a year. "This bill is not to be con- strued as a criticism of doctors or he told the leg- islature. "Rather it will provide the legislative assembly aijf-hority for our druggists to dispense the drug that is lower in cost than the one prescribed, provid- ed the drug is in the same amount and in the same active ingredients "and the same dos- age." However, a doctor or pur- chaser may direct that the same brand be dispensed, no matter what the cost. Under the bill, it would be an offence for a rmacist to dis- pense a drug for sale "for a price in excess of the cost of the lowest priced interchange- able product, plus of course, the dispensing fee." The bill was introduced in the legsilature last year and was debated but died on the order paper at the end of the session. PREFERRED FINANCE CORPORATION LTD. Ml60, 345 4th Ave. S.W., Calgary, Alberta Short Term Financing Available, anv amounts over Expedient service Phone 262-6465 or 262-3908 On the Amex. Scurry-Rain- bow slipped V8 to Quebe- cor rose Vs to Mediators attempt to avert strike EDMONTON (CP) Labor department mediators met with officials of Canada Safeway and the Retail Clerks' Union Tuesday in an attempt to avert a strike called for Thursday against Safeway's -wholesale supplier. Local 401 of the clerks' union Monday filed a notice of intent to strike the local operation of Macdonalds Consolidated Ltd., a Safeway subsidiary involved in wholesale distribution to the food chain. About 200 warehouse, whole- sale and trucking employees will be affected if settlement is not reached before the strike notice expires at 7 a.m. Thurs- day. R. W. Curell. Safeway's zone manager, said Tuesday the company was offering wage in- creases in line with a concilia- tion commissioners' report which recommended an in- crease of 60 cents an hour for men and 55 cents for women over a two-year period. The union is asking for a increase over two years or 80 cents over 18 months. The previous contract expired in December. A Macdonalds' spokesman said a strike would not affect the supply of food to Safeway stores. Businessmen! ou need A joint verrturp of Laurentide Financial Corporation Ud. and BanVAmenca Corporation. We're professionals in the financial field. Sale and Jcascbatk Business acquisitions Purchase credit inventory loans WorVmg caoital losrs Receivable financing New business Imani.r.g II norco norm corrnnenr OWTOL ura. 1200 Wett PenSer Street 832 Fifth Avenoe S-W. fieme (604) 681-5375 Phone n character with an important de- pendency on rapidly expanding major urban centres." Alternate means of satisfying the regicus's nesds would also be considered. Mr. Benson said the CTC, referred to mostly for interpre- tation the National Transpor- tation Act and ruling on trans- j'port issues, may have to initi- ate more research in the future. Ibc commission mast take a more active rote m searching out and identifying problems rvMcli oculri be creat- Grain quotes Tuesday (basis High Low Close Flax May Jly _ _ 433 Oct----------------428% Nov 420% Rapeseed Vancouver Jun 387% 391. Sep 384. 390% Nov 374 366 372% Jan 360 Rapeseed Thunder Bay 37314 S72Ts 362% May Jly Oct Nov Cuts May----- Jiy 114 Oct 108% Dec Barley May 154% 153 152% Jly Oct Dec Rye May Jly Oct Dec 152% 152% 367 367% 355% 112 108 153% 152% 149 151% 150% 372% 370V4 359 326% 115 113-s 108% 107% 152% 151% 150% 150% 152 150% 144% Livestock CALGARY (CP) Receipts on the Calgary livestock mar- ket to 11 a.m. today totalled head, mostly steers. Trade was active. Slaughter steers were 25 cents higher with sales to 42.40; heifers were scarce but steady for quality; cows were mostly in the lower rades with prices steady, but good kinds were too scarce to es- tablish a market; bulls were steady. Al. A2 steers 41.50 to 42.40, A3 40.25 to 41.50. Al. A2 heif- ers 39.50 to 40.50, A3 33 to 39.25. D3 cows 30 to 31, D4 26 to 29.50. Good bulls 35 to 37. Replacement cattle were mostly fleshy short-keep steers 900 to 1.000 pounds at fully steady prices. Insufficient stock calves to establish a market. Good feeder steers mere than 750 pounds 40 to 42.40. Good feeder heifers more than 550 psunds 37 to 43. Stock and feeder cows 26 to 32. ing cowjJIions inconsistent with the intent of national transpor- tation i Also considered was public i review and criticism of CTC I analysis of existing transport '.vsfems and alternatives. Beef futures WINNIPEG (CP) Live beef futures close Tucsdav. May 42.00A; Jly 42.00- A Sep 40.72A; Nov 40.50- N. Monday's voJunie: No con- a.m. Quotes) WESTERN AND MINES Vancouver, Calgary, Montreal (Supplied by Doherty. McCnaig Umited) LAST BID OR SALE a.m. Quotes) 9.40 6.00 11.50 1.550 5250 Alta East Gas Alminex Assmera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Gas Oil Cdn Long Is Cdn Super Charter Oils Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochiel Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain SeibenS Scooner Total Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd 15.75 Aquitaine 24.50 BC Sugar Pfd 15.00 Block Bros 2.90 Brinco 5.75 Cdn Brew A J7.50 Cdn Brew B 32.75 Cdn Pacific Inv 3050 Crestbrook Ind 8.SD 26.75 7.75 7.75 13.25 7.50 17.25 Crowsrtest Ind Cygnus A Cygnus B Falcon Copper F and M Trust Genstar 14.3714 Home A 5.05 Home B 4.70 Hud Bay Co 2B5 Hud Bay Oil 7.80 Hud Bay A Pfd 8.62% Hugh Russell .27 Husky Oil Husky B Pfd Husky D war Husky c War Infer Prov Pipe 10.50 Inter Prov Steel 14.00 Kaiser Res Loblaw C Pfd Macnasonics Pacific Pete PW Air Rainier Inc Royal Trust St Maurice Cap 11.50 39.50 9.90 .46 3.35 9.75 3'.50 8.65 2.92 1.66 1.40 7.25 17.12'A Teledyne West Cdn Seed 14.50 Westfield wesfcn A Pf White Yukon a.m. Quotes) AGF Special 2.83 Cdn Invest F 5.27 5.7 Col Mutual 6.30 6.9 Crr.nw Infer 17.9 Cmnw Lev 4.03 4.4, _ Cmnw Vent 7.98 8.7 41 12'A Ccfp Invest 6.42 7.0 "t 75 Corp In St F 5.39 5.9 M'OO Dreyfus F U.S. 11.78 12.9 4700 6r I" Shares 4.18 4.6C 54.50 Gr Equity 44 00 Invest Gr F lnvest, Mutual 43 Mutual Ac Mutual Gr F Nat Res N W Cdn NW Gr Principzl Gr 8.75 12.83 14.03 6.02 6.5 4.33 7.9 3.96 Jt.3 8.84 3.10 32.50 1.32 .23 .61 .36 27.50 17.50 13.25 .51 7.20 1.05 5.00 25.25 1.05 3.75 4.75 6.00 1 25 14.25 PIPE LINE STOCKS 16.00 74.25 21.50 Gr United Ac Universal Sav Vanguard CALGARY Acroll Barons Oil Ncrfh Continental Western Warner VANCOUVER MINES Afton Atlas Explcr Bath Norse Croyden Dankoe Davenport 11.WA Dolly Varden 54.25 Equifcrial 11.62% Lornex primer 8 Gel Metro 5.00 Pyramid 5.30 Gaz Metro A Silver Standard Trans Cda Pipe 40.50 Valley Copper Tr Cda A Pfd INDUSTRIALS Tr Cda B Pfd 42.25 Capt Inter Tr Can War 9.50 Columbia Brew WC Trans 22.7S Hys Cdn WC Trans Wis 4.75 Key Indust MUTUAL FUNDS OILS All Cdn Com 7.87 8.40 Albany Oils Al Cdn Divid S.49 9.23 Plains Pete Al Cdi Vent 4.14 4.53 Stampede Intl Res Amr Gr F 5.76 6.32 West Explor 8.09 5.73 6.3C 5.36 S.89 4.W 5.48 7.04 7.33 9.52 10.40 5.38 5.91 8.31 9.13 7.05 7.72 Alta Gas A Alta Gas Pfd Alta Nat Gas N and C Gas N and C B PW Inland Nat Gas Pacific Trans .53 .04 .01 .35 8.10 .59 .82 .05 1.25 .54 .30 .21 9.50 .23 M .70 10.00 2.00 3.25 .33 1.09 .28 .67 Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE r.m. auoTeil Quotes) MINES Acme Advocate Asb. Akaitcho Bralcrna Broulan Bethlehem Brunswick Can. N.W. Land Canada Tung. Cassiar Central Pat. Chimo Conwss? Cons. Rambler Ccin LaKc Cochencur Craigmont Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Donalda Discovery IWnes East Malartic East Sullivan Falconbridge Frobex First Marilimes Giant Y.K. Granduc Hollinger Hudson Bay M-S Hydra Ex. Iron Bay IS3 Joliet Quebec Kerr Addison Ar.3C.on Lafjradcr UaVc Sti-r- Lsncis Silver P L. Malartic O.F. Marlin McNsely Weta Widrim Mcpvl Homes New Athona Osisko Glendale .19 Pine Point Grt Cdn Oil 1.18 Placer Dsv. 53.00 Gen Motors -92 P.C. Exp. 3.00 Grt Lakes Pp 2.60 Quebec Man .10 Gulf Oil Cda Rayrock 1.17 Greyhound 14.75 Radiore .30 Hawker Sid 4 75 Rio Algom Hur Erie 7.20 Roman Corp. 8.30 Hiram Walker 1.66 Sherrilt Gordon 16.62V5 Imp Oil Steep Rock 1-55 Imasca Tek Corp. 4.10 Int Nickel Texrnonf .28 Int Pipe Upper Canada 2.70 Inv Gro A Western Mines 2.E5 Int Util Wrioht Hargreaves 1.15 Ind Accept Willroy 1.03 Kaps Windfall Laurenfide Yellowknife Bear 3.90 Kelly doug A Zenmac .OS Losb INDUSTRIALS LoUaw A 1.30 1.25 6.6S 3.50 .23 .98 6.62 3.75 35.00 .45 8050 .a 1.05 2.50 3.10 69.75 .30 .46 7.75 3.15 47 JO Abitibi Alcan Algcrna Steel Atco Ind Atlantic Sugar Asra Ind Bell Tel Brazil Trac B.C. Tel Bums B.C. Forest B.C. Suoar Bow Val Ind CAE Ind Cdn BrfW Chemcell .24'i Col Cell Caloary Power .25 Ccron Credit Cf C.W.N. Gas Pfd TJ.2S Cdn Ind 16.75 Marconi Tdn Vicltsrs Chrysler C.P.R. Cominro Cons Bath Tons Gas Di-.t Sworamj Own Bridge .24 3.60 2 67 3.15 -f.7 .76 33 .33 48 .13 13.75 10.75 Dollar Value MONTRTAL (CP> U.S. dollar in terms of Canadian funds at noon today was un- changed at 90.99 22-25. Pound sterling up 39-100 at 21-25. In New York, the Canadian dollar was unchanged at 3- 25. Pound sterling up 39-300 at 7-50. W. Copper 3" 25 Dam Textile Ctom Stores Dome Pele 11.00 Met Stores 26.87VJ Massey Ferg 16.42Vj McMillan Bloe 10.50 Moore Corp 609 Wlolsons A 12.25 Mclscns B 4.J.3TO Nachurs 20.50 North Cent 54.75 Power Corp 1S.50 Price Co 35.00 Rothmans 30.75 St. Law Corp 33.00 Shell CDA 11.00 Simpson's Simp Sears Steel o! Cda Selkirk A Texaco Traders Grp A Trans Mln Po Trans Cda Pp Union Gas Union Oil United Westcel Union Carb 77.1 ?Vi Weston's 8 17 Woodward'? A 39.75 West Cdn Seed Zenith Elffr tt.871% BANKS S Cdn I mo lllJVj Montren! ?9.5fl Nov 10.7S 8.60 71.87'A 4.35 31.25 50.00 12.25 33.00 25.75 11.03 7.50 11.50 8.17V3 4 6.50 23.50 19.75 30.75 51.75 27.87'Ji 27.25 11-00 12.75 15.00 3.O> Jfi.09 1.80 4.05 13.35 33.50 30.50 20.00 33.25 53.12'i 3475 14.75 64.00 J3.87V, 40.50 1S.75 1000 30.25 17.25 21.75 79.75 S-STVj 2.45 31.75 Fort Macleod bull wins top aicard A Fort Macleod polled Here- ford swept top honors at the 1973 Spring Bull Show and Sale Tuesday during the open- ing day of Ag Expo. About 800 persons were on hand to congratulate Robert Zoetemao who picked up three first place ribbons with his April 1971 bull. He took his class, then topped all junior bulls before winning the Grand Champion Bull banner for the entire show. George Templeton of Leth- bridge won the majority of the silverware during the show, sponsored by the Southern Al- berta Cattle Breeders Associa- tion. The Templeton bull which won the senior champion title swept the Reserve Grand Champion banner behind the Zoeteman animal- Mr. Tem- pleton also topped the oldest and youngest bull category in the senior class. He then won the best pair of bulls trophy and walked away with the best three bulls sired by the same animal (Get-of- Sire) classes. Show judge Louis Latimer Olds claimed the bulls were well placed and were a gooc strong group. First and second place win- ners in the eight classes are: Bulls, born in 1970 George Templeton of Lethbridge, Sny- der Farms of Drumheller; bulls, born January and Feb- ruary 1971 Duncan H. Flem- ing of Granum, Art Watmough of Fort Macleod; bulls, bran March 1 to March 20, 1971 Stan Jones and Sons of Balzac, B. G. Powlesland of Del Bonite; bulls, bom March 21 to March 31, 1971 George Templeton, Ulrich Herefords of Claresbolm. Bulls, born April 1 to April 15, 1971 Robert Zoeteman of Fort Macleod, Mar Stringham Ranches of Milk River; bulls, born April 16 to April 30, 1971 B.C. Church of Balzac, F. M. Wyatt of Vulcan; bulls, born May, 1971 Hans Ulrich of Claresholm, F. M- Wyatt bulls, born June 1 to Aug. 31, 1971 Louis Balog of Milk River, Stan Jones and Sons. Tax return tips For further Information, caU the District Taxation Of- fice, If you live in a toll area, ask your long-distance oper- ator for ZENITH 0-4000 and your call will be placed with- out charge. Q. I am employed as a gar- age mechanic and have to pro- vide my own tools- These cost me When completuvj my income tax return, can I claim this expense as a deduction? A. No. The cost of tools is not deductible from salary or wages; nor may you claim cap- ital cost allowance on them. You may, however, claim an employment expense deduction of 3 per cent of your employ- ment income up to a year. Q. I am a transport employee and I do have certain travelling and away-from-home expenses. What records are necessary to prove my claim for these ex- penses when filing my income tax return? A. If you are an employee of an airline, railway, bus or other transport company carrying goods or passengers and you are required to travel regularly away from the municipality or metropolitan area where you report for work, you may claim actual expenses for meals and lodging while away, minus any amount reimbursed by your employer. You should keep a de- tailed record of such expen- ditures and complete form TL2. This form, properly certified, should be filed with your return. Q. As a self-employed person, paid my tax when I filed my ncome tax return but received an assessment for interest. What is the interest charge for, as I paid my tax before April 30? A. An individual who does not lave three-quarters of his in- come subject to tax deduction at source is required to prepay his tax in quarterly instalments at the end of March, June, September and December. Since you did not do this, inter- st for late or deficient instal- ments was charged. A farmer s required to prepay two-thirds of his tax by the end of Decem- >er. Q. What are the requirements regarding keeping my business records after I have filed my income tax return? A. Records must be kept until written permission to destroy them is received from the Tax- ation Department. This would nvolve writing to your District Office stating what records you wish to destroy, the years involved, and your reason for wishing to destroy them. Q. If I do not understand or disagree with a Notice of As- sessment or Reassessment, what action might I take? A. Contact your local District Taxation Office for an explana- tion. The information may be obtained by phone, letter or in person. If the problem has aris- en over a misunderstanding of the facts, it is usually to your advantage to have the facts clarified before taking formal action. Most cases are resolved this way. If you are still dis- satisfied, you may file a Notice of Objection, copies of which are obtainable at the District Taxation Office. The Notice of Objection must be filed within 90 days from the date of mail- ing of the Notice of Assessment or Reassessment. Q. Are workman's compensa- tion benefits received in 1972 ex- empt from tax. A. Yes. This income was ex- empt in 1971 and prior years, and will be in your tax return for the 1972 taxation year. Q. Can a retired taxpayer re- porting only pension income claim three percent employ- ment expenses? A. No. This type of income does not qualify as employment income. Tor-Oom 327S 'RETAIL FOOD MERCHANDISERS ii An Jdirioriton requires field 'o oi.'.ist independent retoilen in Northern Alberto. ErccJlsnt working conditions, end benefits including tompony cor. Applicants considered on c'perienre in grocery, mcot cutting ond produce. Recent pnoto plcosc. Pcsume ond salary erpc-cled to Mertnondiiino Deport- Alberto Grocers Wholesale ltd., P.O. Box G40, Ed- monton, Alberto. New York stocks (Snppficd By Rirtarffson Setmilien of CavMa) Amr T T Ctwysler Comsat C-M Gtlt SO 75 X-Spn 10 Texas Gulf Co kcs CWP Wcolworth W.W470 Golds W 1.0 10 Sssc Mrl 500 -up .31 2J.S5 15 W Oils W 7S OM 1.51 VoTimc 7S 75 V S. r -7i', Elt TORONTO Ward li.UVj JO influst 223S9 uo to NEW YORK AVERAGES '-T '3 3D 1 ndust 979 03 vo 1.28 31 70 (Iff .VI IS UtHItlss lOS.fl :-2 65 794 5S off .W Volume Hog prices EDMONTON Aver- age prices lo JJ a.m. provided by 1hc Alberta Hog Producers Marketing Board. Edmonlrr 43.20, average Tuesday 40.91. Bed Deer: 41-60, average Tuesday 40.84. Calgary: 41.30, Tuesday 40.87. Lefthbridge: N i J, average Tuesday 40.90. Fort Macleod: Nil, Tuesday 40.S5. Total hogs sold 746, average average sold Tuesday average 40.94. Sows average 53.65- Met drug oiitrols tightened OTTAWA (CP> Canadian controls on amphetamines such as diet drugs, appetite suppres- sants or pep pills are "much tighter" than American recall orders proposed Monday, fed- eral health authorities said to- day. Dr. A. B. Morrison, head of the beaJlh protection branch, said Canadian regulations which came into effect Jan. 1, 19Z3. have limited the use of amphetamines to six medicaHy- approved conditions. These regulations stopped the use of amphetamines as diet pJUs or pep pills. He was commeniiflg on news reports that the U.S. govern- ment will recall diet drugs tfcat contain amphetamines and has set June 30 as fhe target date for removal of afl such products from the market Agrimart dispute settled CALGARY (CP) The con- troversy over the Alberta Live- stock Co-op Agrimart apparent- ly has ended with all parties to the dispute agreeing to a com- promise site for the livesotck market on the Airways Indus- trial Park, but further removed from residential areas in north- east Calgary. However, the Alberta live- stock Oop still has to face a land-use hearing April 25 before it can proceed with the opnrent of the Agri- roart. The new site was agreed to at a special meeting of city coun- cil. Alberta Livestock Co-op, a citizens' protest group called the 25-24 co-ordinating council and the Airport Businessmen's Association. ne city agreed to purchase fhe 280-acre industrial park for an acre and sell 30 acres to the co-op at an acre, including servicing. Opposition to the earlier Agrunart site near residential areas resulted from concerns that the Agrimart would: Attract birds to pose an avia- tion hazard; cause possible pol- lution and environmental dam- age; cause property values to drop. Sign trade pact STOCKHOLM AP) Swe- den and Czechoslovakia have signed a five-year trade agree- ment ending in 1977, the govern- ment announced today. The two countries also signed a protocol on the exchange of goods for 1973 amounting to nearly million. Swedish ex- ports include machinerv and equipment, iron ore, and leaOier and office equipment Imports include madfinery and equipment, especially tool ma- chinery, furniture, Iron and steel, cote and terfita.