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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 5, 1973, Lethbridge, Alberta TSE gold stocks at record highs TORONTO (CP) Prices on the Toronto stock market were mixed although gold issues con- tinued to record highs in moder- ate mid-morning trading today. The industrial index, consid- ered a major indicator of mar- ket direction, was up .02 to 223.78 and golds 2.16 to 249.32. Base metals dropped .24 to 100.87 and western oils 1.44 to 242.32. Volume by Jl a.m. 009 shares compared with OOD traded at the same time Wednesday. Declines were ahead of ad- vances, 124 to 101, while 176 is- sues remained unchanged. Bank, chemical, commu- nication and oil refining stocks recorded gains while beverage, real estate, pipeline and general manufacturing issues were lo'.ver. Noranda was up to S50V4, Alcan to Texas Gulf to and MacMillaa Bloedel Vs to Dome Pete lost to Falconbridge Nickel to Bow Valley to Con- sumers Distributing to and Shell Canada to Rio Algom rose to Csmflo 10 cents to Pa- mour 15 cents to and Gibr- altar Vs to Tara fell to S17, United Siscoe to S9.SO and Kerr Addison to Chieftain supped to Decea 25 cents to and S'.e- bens Vs to Ram Pete gained nine cents to MONTREAL (CP) All sec- tors except papers and industri- als fell 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 the same time Wednesday. Banks dropped .54 to 272.86, utilities .34 to 160.77 and the composite .11 to 230.84 while pa- pers gained .15 to 120.88 and in- dustrials .03 to 243.79. On the Montreal Stock Ex- change, Dome Petroleum dropped 1% to People's Stores 1 to and Dominion Bridge to while Trans- Canada Pipelines gained 4V8 to On the Canadian Stock Ex- change, Royal Agassiz gained three cents to 57 cents on shares. NEW YORK (AP) Worries that inflation is becoming too strong to control continued to depress Wall Street today, and stock market prices skidded for the fifth straight day. At noon the Dow Jones aver- age of SO industrials had sunk 4.14 to 920.91. Canadian issues generally were lower. On the NYSE, Mclntyre slipped J to S51. Declines of Vs were posted by Alcan, at Canadian Pacific, at Inco, at and Walker-Goo- derham at On the Amex. Quebecor, at and Scurry-Rainbow, at each were down Tax return tips For further call 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. My -wife is -vrorkiBg and earned over in 1971. I know I can't claim the married exemption of en my in- come tax form on her behalf, but can I claim this on behalf of our child instead? A. No. The exemption for support of a child may only be claimed by a person who is not married or, if married, is separated from and not sup- porting his wife. Q. My wife and ,1 are bath retired. She receives the Old Age Security pension. When I am making out my income tax return and claiming my wife, must I include the Age Se- curity pension as. part of her income? A. Yes. The Old Age Secur- ity pension as well as any sup- plement received are her in- come and musi be taken into account in determining the amount, if any, of your mar- ried exemption. Q. I am a married man with dependent parenis liv- ing overseas. What exemption can I claim for niy parents? A. If ycur parents are de- pendent by reason of physical or mental infirmity, you may claim the actual amounts spent in support of them up to a max- imum of S550 each. Form T1E- NR, which ycu can obtain frtxn your District Taxation Office, must be completed and attach- ed to your income tax return. Q. My eirnloycr has previ- orsly charged me with 25 par cent of the operating costs of the company car which is available every day for my personal use. This amounts to about a year. Under the new minimum standby charge, the amount is being one percent per month on the original cost of the car of Am I required to include in income the differ- ence between the minimum standby charge and the amount charged by my employer? A. Yes. Q. I am self-employed and my earnings ar less than my personal income tax exemp- tions. Can I contribute to the Canada Pension Plan? A. As a self-employed person, if you earn over in the year you are required to file a tax return and make the requir- ed contributions to the plan. Q Is. a farmer required to make Canada Pension Plan de- ductions from the wages paid to farm help? A. Deductions for ths Canada Pension Plan must be made from all wages paid for farm labour, provided the employee has reached the age of 18 and has rot reached the age of 70, and has received cash wages of or more and also has worked for 25 days or more dur- ing the year for this employer. Q I. arrived in Canada in March last year. I am told that I must enter on my tax return the date of my entry into Can- ada. Why is this? A. The reason you are asked to stale your date of entry into Canada is because your total personal exemptions, and stand- ard deductions if applicable, are prorated according to the number of days in the year that you were a resident of this country. CAREERS SHELL CANADA LIMITED Requires the Following Staff EXPERIENCED GAS PLANT OPERATORS Positions ore ovaJlabJe at our WoJerton Proc- essing Plant located near Pineher Creek, AJberta. level of initial position will be determined fay past exper- ience. Future development will be placed on merit. Candidates should have a minimum of one year experience in plant processing and be (he holder of an Alberta 3rd or 2nd CJass Steam Certificate. InSerested applicants should write slating qualifi- cations and experience to: PINCHER CREEK, Alberta Shell Canada Limited P. O. Box 1088 Attention Office Supervisor Bursting at the seams The town of Fort McMurroy, at the junction of the Athabasca and Clearwater rivers, 250 miles northeast of Edmonton, is bursting at the seams with a population of scrambling for space to park a trailer. In 1963 it had one hotel and inhabitants and then construction began on the Great Canadian Oil Sands plant and the population jumped to Miscellaneous quotations Grain prices Vancouver, Calgary, Montreal (Supplied by Doherty, McCuaig Limited) LAST BID OR SALE a.m. Quotes) a.m. Quotes) e.m. Quotes) WESTERN OILS AND MINES Alta Eest Gas Alminex Asamera Ashland BP Canada Brenoa Mines Can Soulh Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charier Chieftan Dame Dynasty Fort Reliance Giant AAascct Granisle Gt Plains Gt Cdn Oil S Lochiel Lytton Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrel Pinnacle Place Gas Pondsr Ranger Scurry Rain Se'ibens Spooner Total Pete Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Cdn Pac Inv Pfd Cysnus A 9-4D Cygnus B 6.00 Falcon Corper 11-25 F and M Trust 13.75 Genstar Home A 5.15 Home B 4.60 Hud Bay Co 3.S5 Hud Bay Oil 7.80 Kud Bay A Pfd 8.75 Hugh Russell -27 Husky Oil 52.25 Husky B Pfd 4.00 Husky D War 10.37Vb Husky War 27-2S inter Prev Pipe 10.12'A inter Prov Steel Kaiser Res 3-25 Loblaw C Pfd 9-75 Macnasonics 24.00 Pacific Pefe C.65 pw Air 2-ss Rainier Inc 1-71 Royal Trust St. Maurice Cap 7.10 sandwell 17.37'A Teledyne 15.00 west Cdn Seed Min Western A Pfd Yukon 30.00 7.75 7.75 13.SO 7.25 17.00 41.50 38.75 2200 47.00 54.25 45.00 20 JO '3.00 7.00 1350 N 3 05 13 50 Cdn Invest Ccl Mutual Cmnw Inter Cmnw Lev Cmnw Vent Corp Invest Corp In _5t F 5.30 5.81 6.at> 15.51 17.04 4.01 7.96 8.75 6.42 7.05 F 5.37 5.90 14.50 1.31 .23 .61 .40 27.00 17.00 Dreyfus F U.S. 11.69 12.61 Great Pacific 4.89 5.35 Gr In Shares 4.16 .s.58 Gr Equity 8.73 9.59 Invest Gr F 1Z8414.04 Invest Mutual 9.92 10.90 Mutual Ac 6.38 7.01 Mutual Gr F 3.91 4.31 Nat Res 8.09 3.84 W Cdn 5.72 6.29 W Gr 5.32 5.S5 Principal Gr 493 5.4] Royfund 7.04 7.73 Temp Gr 9.55 10.44 United Ac 5.35 S.S8 Universal Sav 8.30 9.12 Univest 6.13 6.74 Vanguard 7.07 7.74 CALGARY Acroll ,62 Barons Oil .04 North Continental .01 f% Western Warner .35 INDUSTRIAL MINES PIPE LINE STOCKS Atlas Explor 8'.59 10.50 Acres Ltd Aquitaine BC Sugar Pfd Block Bros Brlnco Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestfcrcok Ind Crowsnest :nd Cdn Brew B Pfd Alta Gas A Alta Gas Pfd 13.12' 2 Alta Nat Gas .50 Inland Nat Gas 6 90 N and C Gas 1.05 N and C B Pfd 8.37'A Pacific Trans 5 35 Metro Gaz Mstro A Trans Cda Pipe Tr Cda A Pfd 24.25 Tr Cda 8 Pfd 1S DO Tr Cda War VIC Trans 5 WC Trans Wts 27.50 MUTUAL FUN3S Key 32.75 All Cdn Com 7.84 r.57 15.75 Bath Moris 74.50 Croyden .05 Dankoe 1.25 Davenport 31 11.25 Dolly Varden JO 24.00 Equitorial Res .20 12.75 Lornex 9.50 4-90 Prirr.er .19 67.00 Pyramid .19 41.00 Silver standard .71 Vs.'ley Copper 10.00 41-53 INDUSTRIALS 9.40 capt inter 2.00 22.42Vi Columbia Brew 3.25 4.60 Hys Cdn 5.75 Indus? .30 OILS 23.00 All Cdn Divi Ail Cdi Vent 27.50 Amr Gr F 32.75 AGF Special 9.25 Albany Oils 1.08 4.10 4.48 Plains Pete .26 5.63 6.24 Stampede Inti Res .66 2.79 West Explor .0754 Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE Winnipeg grain WINNIPEG (CP) Rape- seed and flax prices posted strong gains in a heavier vol- ume of trade at session on the Winnipeg Commodity Exchange today. Rapeseed advanced the daily maximum of 10 cents in sev- eral trading months while flax worked five to nine cents above previous close levels. Oats and barley were firm to fractionally higher and rye posted marginal gains. Wednesday's volume of trade was bushels of flax, of rapeseed and of rye. MTO-SESSION PRICES Flax: May higher 4.55B, July higher 4.527s, Oct. 5% higher 4.44, Nov. 9 higher Rapeseed Vancouver: June 9% higher 4.09, Sept. 9% high- er 4.07B, Nov. 10 higher Jan. 8 higher 3.78B. Rapeseed Thunder Bay: May 10 higher Jult 10 high- er 3.87B, Oct. 8% higher 3.74B, Nov. 10 higher Oats: May unchanged 1.15A, July Vs lower Oct. higher Dec. higher Thurfdoy, April 5, 1979 THE LETHBRIDGE HERALD _ 23 1.09B. Barley: May 1.54y4B, July Oct. Vs Dec. not open. Rye: May July Oct. Dee. not open. lower unchanged fcsgher unchanged unchanged i higher Grain quotes Wednesday (bas- (1UQO a.m. Ouotesl r.m. auotesl Quotwt MINES Acme Advocate Asb. Akaitcho Bralcrr.e Broulan Bethlehem Brunswick Can. N.W. Land Canada Ti-ng. Cassiar Cenira) Pat. Chiir.o Cons. Rambler Coin Cake Ccchenoor Dicksnson Mints Denison Mines Deer Horn D'Eldona Dome Mines Dnnalda Pine Poinf .16'? Placer Dev. 51-00 1.18 P.C. Exp. 2.55 GL-ebec Man .10 2 JO Rayrcck 1.13 .rt Radicre .3) 14.75 Rio Algom 27.09 Reman Core. 8.10 7.50 Shcrrilt Gordon 15.75 Steep Roc' A Int tnd Accept KSFS Larrentide Kelly Doug A 8.65 71.87'A 19.75 a.50 31.53 50.00 33.00 33.W 25.87'.i 23.7S Easf SclBvan Falconbridoe Frofcex First Maritime Giant Y..K 1.07 .31 Hollineer Hwtfjon Bay K-S Hydra Ex. BoviS Iron Biy Iso fl. 23'-" 7.70 A'ianlic Sucar Ag-a Ind Bill Td Brazil Trac B.C. Tel Burns fl.C. P.C. Sucsr Brw Ind Ccl C-C11 Cala-ry LotUw A KcS ?7.i y 3 Fero ''.7S Eioe 10.75 tfffre Crrp WsUons A AtelsOTS B Korlh S. Cent SMU 7.87VJ 11.75 J3.SO 31.03 57.75 Corp Price Cc Piih-rens Law Core Shell CDA 27.05 11.00 57.00 Wlsrtic R.U Offlf MJdrH Mooul New Whims W. Ccww Osirto .W 7? sc'w .'13 1375 !IP s tn BANKS T TiTin ScStis is High Flax May 446'i Jly 443 Oct Nov 430'i Low Close 444 440 433% 426 443 Rapeseed Vancouver Jun 391 Sep 393 388% 397% Nov 378% 378% Jan 370 360 370 Rapeseed Thunder Bar Way 379% Jly 377 Oct 366 Nov Oats May Jly 113-s Get 110% Ccc----- Barley May 154% Jly 152 Oct 352. Dec 150% Rye May 156'k 150% 154% 379% 377 115 1037s 110 154; Committee suggests return to last price., rent levels WASHINGTON (AP) Directly challenging President Nixon, the House banking com- mittee is recommending that prices, rents and interest rates be returned to levels of Jan. 10, the day before the president ended Phase 2 economic con- trols. The issue is headed for a House floor fight, probably about April 17. Nixon wants only an exten- sion of his discretionary control powers, which expire at the end of this month. Democrats, denouncing the president's Phase 3 program as a failure, want stiff controls. Under the bill approved 21 to 9 by the committee Wednesday night, there would be no gen- eral as raw food interest rates would be brought under man- datory controls for the first time. The president, however, would be allowed to make ex- ceptions to the ceilings to avoid "gross inequities." Mandatory controls on wages, salaries, dividends and similar payments would be triggered when inflation reached specified levels. The committee vote sending the bill to the House floor after an 11-hour session was largely along party lines. It followed a vote rescinding a day-old deci- sion to set food-price limits at the level of May 1, l'P72, and other prices and interest at March 16, 1973. Canadian f irms urged to look at ECC markets WINNIPEG (CP) Kenneth Joyner, of Britain, managing Off Dec 155'j 354 11 5-1 7.7S 7951 17.75 77m 3.M 3375 New York stocks By Ridiarastm Scrnritirs of ATM- T end T AnzioonSa Btth StK-1 GV, 55 W1 327} 1SS.U 10 nH .71 Kwirt Copper 24 7J Git If ec ffaatgamry Wsrd 21.a tOKOXTO AVERAGES 223-U off 42 yi.tr, 15 Oils 3J5 jjjj KCW YORK AVERAGES J1.''7V? W ftsili rff I'M U'OIlics 1M.13 41 W oft J.M Steel plate price hiked TORONTO fCPl The Stoel Co. of Canada Ltd. has an- nounced a} win increase its prices of steel plate and galva- nized sheet steel June l. Sled plale will be increased between S7 and a Ion, de- pending on quality, and galva- nized sheet steel will be raised an average S10 a ton, Stclco saad. An increase of a ion in the price of steel bar previously an- ntwnced by the craipaay went into effect'Monday. director of Project Manage- ment Ltd. urges Canadian com- panies to examine the possib- ility of establishing themselves in Britain to take advantage of the wider market offered by the European Economic Com- munity. "Britain will extend a very warm welcome and substantial government assistance to any Canadian company which wishes to set up in England." He made the remarks at a one-day seminar on the effect on Canada of Britain's entry into the common market, spon- sored by tbe British Canadian Trade Association and the Win- nipeg Chamber of Commerce. He said the British govern- ment is "willing to examine any location you wish to settle in, evaluate your objectives and see what you need to achieve them." A. F. Haddocks, deputy Brit- ish high commissioner to Can- ada also enrouraged Canadian investment in Britain. "H our hopes for the econo- mic development of the com- munity in the next few years are realized, the market in Europe for imported goods will expand so much that suppliers in Canada will have gained ben- efits from that expansion far in excess of any losses they may think they have suffered from the creation of a tariff on some exports to Britain." He said Canadian companies settled in Britain would be abJ.- to sell in these markets without the drawback of tariffs and other complications. Lord O'Neill, director of the Merchant Bankers in London and former prime minister of Norther Ireland, said Britain's entry into the EEC created "new opportunities which now exist for development of new ties of an ecinomic kind be- tween Canada and Europe and in particular between Canada and the United Kingdom." He said export trade is one way of doing business but added that "increasingly, Cana- dian corporations will want to invest on a productive capac- ity abroad either by investment in foreign companies or by set- ting up abroad." Gordon Lawson of Richard- son Securities of Canada Ltd-, said the British invitation to Canadian companies "is the complete opposite of history and tradition." "But capital is so criticized in Canada for not developing our own country that I just cannot see it We have so much to do here that I just cannot see a great deal of capital mov- ing to the United Kingdom de- spite the advantage. Export association warns against money restrictions OTTAWA (CP) The Cana- dian Export Association says the economy would be damaged if the government-owned Export Development Corp. stopped lending money to foreign-owned corporations. "It would be wrong, and costly to the Canadian econ- omy, for the corporation to adopt a policy which would dis- criminate against foreign-con- trolled the associ atkm said Tuesday in a brief to the Commons finance com- mittee. Such a restriction against subsidiaries would divert export business to related firms in other countries, and deprive many Canadian-owned firms of sales to exporting subsidiaries in Canada. The association, which claims about 400 member companies, noted that the corporation al- ready insists that 80 per cent of the content of exports it fi- nances originate in Canada. The committee is studying a government bill to raise the ceiling on loans and guarantees it grants foreign buyers to pur- chase Canadian goods. Several New Democrat MPs have questioned the policy of granting aid to foreign-owned companies. J. M. McAvity. president of the export association, argued that subsidiaries are particu- larly well-placed to export. He said an unpublished asso- ciation study shows that about 52 per cent of exports of manu- factured goods is sold by subsi- diaries to their related com- panies abroad. Tbe figure ex- Beef futures WINNIPEG (CP1 Live beef futures dose Wednesday. May 42.OTA: Jlv 42.15B; Sep 40.9KB; Nov 40.50N. Tuesday's volume: No con- tracts. Dollar Value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was down 1-25 at 23-25. Pound ster- ling down 9-900 at 13-100. In New York, (he Canadian dollar was ap 1-25 at 2-25. Pound steriiag unchanged at eludes the auto industry, he said. Asked by Gaston Ctennont whether multi- national firms are big enough to pay for their own financing, Mr. McAvify said even General Mo- tors could not afford long-term export financing without tbe Export Development Corp. The Commons bill would raise the ceiling on loans and guaran- tees to billion from the present million. It also would raise its authorized capi tal to million from mil- lion. The exporters urged speedy passage to protect jobs in the labor-intensive secondary man- ufacturing sector. Gold futures WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg Commodity Exchange close Wednesday. Apr 73 90.43B: Jly 73 93.15A; Oct 73 95.20A; Jan 74 96.78B; Apr 74 98.33B. Tuesday's volume: 57 con- tracts. Livestock Calgary livestock CALGARY (CP Receipts on the Calgary livestock mar- ket to 11 a.m. today totalled 450 head, mostly steers and heifers. Trade was active with prices strong. Slaughter stesrs were a full 50 cents higher, heifers were 50 cents higher with the odd sale to 41.40, cows were steady and bulls were scarce and steady. Al, A2 steers 42 to 42.80, A3 41 to 42. Al, A2 heifers 40 to 41, A3 38.50 to 39.50. Dl, D2 31.50 to 32.40, D3 30 to 31, D4 26 to 29.50. Good bulls 35 to 37. Replacements were scarce, selling steady for quality. In- sufficient good stock calves were offered to establish a market. Good feeder steers 575 to 750 pounds were 43 to 46. Good feeder heifers more than 550 pounds were 36 to 41. Hogs base price 42.45. Lambs were steady Tuesday at 36. Schmidt offers method to end labor impasse CALGARY (CP) New methods of solving labor-man- agement disputes are needed, Social Credit leader Werner Schmidt said yesterday, and one encouraging approach is the "final selection offer." Such a method eliminates strikes and has been used suc- cessfully at tiie University of Alberta for two years. Under the approach, 5f both sides reach an impasse after long negotiation tiney both is- sue a final position to a gov- ernment selection officer, he told a service club. "The selection officer choos- es one of these and his decision is binding. "It has been the case that the final positions for both sides are close to each other and the offer chosen by the sel- ection officer is easily accept- ed." Mr. Schmidt, elected party leader early this year, is plan- ning to run in a byelection ex- pected in Calgary Foothills dur- ing June. Skylah launch dalle May 14 CAPE KENNEDY, Fla. (AP) United States space agency officials have confirmed May 14 as the launch date for Skylab, the country's first space station. The first three-man crew will rccket up to tbe house-size lab- oratory on the following day for a 28-day stay in orbit PREFERRED FINANCE CORPORATION LTD. Ml 60, 4th Ave. S.W., Calgary, Alberta Short Term Financing Available, any amounts over Expedient service Phone 262-6465 or 262-3908 rocessna rstcms 1003 4th Avenue S., lethbridge Telephone 328-4426 recessing WP I SMART EXECUTIVES lease Their Business and Personal Cars BECAUSE tearing can bt less expensive than buying teasing is time saving and convenient leasing simplifies your tax records No cash investment required For rtw complete on cenfocf BORIS KOKESMiNKOV, leaimg end IntvroncD Sep. BENY AUTOMOTIVE ENTERPRISES LTD. 2nd AVt end STRKT 328-1101 J ;