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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 15, 1972, Lethbridge, Alberta ________________________ lolunlny, April 15, 1975 THE IETHBBIDGB HERALD 21 Rapeseed glory fades a little Alberta seeks better share of Canadian sugar market THE HERALD I.oglslrilurc Uiti'riiii EDMONTON Alberta Is pressing Ottawa to give local sugar producers a larger stiare of the Canadian market, Agri- culture Minister Hugh Homer said Friday in tlio legislature. UOUK Miller fSC Taljer- Warncr) charged in tlie ques- lion period ttiat 5 per cent of the sugar consumed in Canada is imported. Outside the house, Mr. Miller said the Canadian government has never hid on the world sugar market, preferring in- stead to have surplus sugar from other countries 'dumped' here at low prices. Canadians pay such a low price for sugar from foreign countries lhat the government prefers to subsidize sugar pro- ducers rather than help them find markets, However, in 1971 for tlie first time In memory, local sugar sold so well that (he federal government paid no subsidy, he said. EDMONTON (CP) It may be near midnight for Canada's Cinderella crop as Prairie pro- ducers apparently intend to plant 37 per cent less rapesced this year than they did in 1971. Last year, Prairie farmers planted a record 5.4 million acres, resulting in a bumper 100-million-bushe! crop. Al- though prices were depressed early (Ills year with a 10-million bushel carryover, the market rebounded early in Match. Statistics Canada estimates Prairie acreage will be reduced to 3.4 million acres from 5.4 million last year but still well above the 2.1 million acres grown during the 1966-70 period. Tlie figures could change drastically by the time farmers are able to start planting. Rapesecd production has grown fantastically in Canada during the last four years. First grown during the Second World War, on about acres, it was used by the navy as a mar- ine oil because it could cling to steam or water-washed metal. This market disappeared aftei the war and the crushed oil was used in cooking or as a salad oil. USED IN MARGARINE In the 1960s scientists evolvcc a process in which the oil couk be used in margarine, hu within the last two years con cern was expressed in Europe that the oil's acid caused hear damage In animal tests. Now, varieties low in erucii ncid, or free of it, arc available and the switch to these varielie Is expected to be completed b> 1974. J. S. Carmichael, an econo mist of the federal agricultur department, says althougl world demand for edible oi: Feeds will continue to increase there is a possibility world sup plies could increase faster, an' lower prices would result. "There seems little reaso why an improved product sue as rapeseed should not sell i H. H. Smith Ltd. Customs Broker COUTTS Phon. 34WBM reater volume providing anadian rapeseed is compe vcly priced." Mr. Carmichael said It has een a year of decision concern- g tlie use ot tow-crucic-ocid eed in future years. "It appears lhat low-eruclc- cid seed will be the only seed ccepted by the Canadian food nduslry In' the near future and ml importing countries also -e prepared to switch." Most sains erased Bond prices Supplied by Doherty McCuaig Limited .OVERNMENT OF CANADA BONDS Vt Sept. Oct. Jul. Sept. 1, '83 79.00 '72 99.90 100.10 '75 96.50 97.50 '78 10-1.50 105.50 80.00 3 T. Sep. 15 40.00 42.00 '75 100.50 101.50 Apr. 1, Jul. 1, Sept. I, '92 82.00 PROVINCIAL '75 101.50 102.50 M.OO GOVERNMENT OF CANADA GUARANTEED BONDS Alberta Ontario Ont Hyd 9 Br N'fld 8 N. S. Quebec TWo Albera SVaSi Man Hyd a Sask Nfld 914% ACT 8 Man Tel 8 INDUSTRIALS '90 103.00 105.00 '88 90.00 92.00 10G.OO 108.00 '90 109.00 111.00 '7-1 101.00 103.00 '92 B8.00 90.00 '74 101.00 103.00 '90 104.00 106.00 '91 97.00 99.00 '90 105.00 107.00 '90 108.00 110.00 '74 102.00 104.0C '74 101.00 103.0C '90 106.00 108.0C '91 105.00 107.0C '92 106.00 108.0C 'BO 106.00 108.0 '79 106.00 108.0C '93 108.00 110.0C '89 104.00 106.0 '90 104.00 106.Of '91 105.00 107.0C 'SO 1C5.HO 1C8.C '90 103.50 105.5 '90 106.50 108.50 '80 103.50 105.50 '90 105.00 108.00 '90 106.00 108.00 Alta G T Alcan 91s'." B.C. For E.G. Tel 9Vs% Bell Tel Bell Tel CP Ltd 8Wo CP Sec Cdn Ulil CWNG Gulf Oil Inter P P 9M Massey Noranda Ini. Nickel 9ViX N ami C G 914% '91 SOG.OO 108.00 St of Cdn 9Vi% '90 105.00 107.00 Tr Cdn P 'SO 106.00 J08.00 Tr Cdn P 10% '90 103.00 110.00 CONVERTIBLES By PETER LEICHMTZ Canadian Press Staff Writer Although the advance lost most of its momentum late in the week issues in most sectors of major Canadian stock mar- kets managed to end the week with fractional gains in moder- ate trading. Prices scored strong advances ,uring the first three sessions, iut profit-taking and a weak market at New York Thursday ind Friday erased much of the {ain. At Toronto, the industrial ndex, a major indicator of mar- ket movement, climbed .57 points, losing Friday at 202.02. Traders said there was a minor sell-off Thursday as some nvestors took a cash position on ,he sidelines until Presiden Nixon's visit to Canada ends. Analysts said some investors have taken a cash position h case any unexpected economii announcements arise from talks between the two countries. At New York, the marke closed higher for the seconc consecutive week in moderate trading. On the Montreal and Cana dian exchanges, the composit' index rose .67 points, closin; Friday at 201.42. Combined volume on the tw exchanges was 7.63 inillio shares, up sharply from 4.B million last week. Banking issues were strong o all Canadian markets througl out most of the week. said investor speculation on prime-rate increase, the rate o interest banks charge their bes customers, was responsible fo much of the gain. The bankin sub-index on the Toronto mai ket ended the week at rise of 13.31 points. Trading on the Toronto ma' ket was moderate with a tott of 12.30 million -shares changin hands, up from 11.97 million last week. Gold issues scored the best y n higher foreign exchange ite for the Canadian dollar and icrcased trading activity on in- ernational bullion markets. The gold index on the Toronto ock market climbed 5.11 oints during the week, closing riday at 180.43. It was the best rlvancc for golds in five weeks. At New York, the Dow Jones ndustrial average of 30 key lue-chip Issues rose 5.11 points uring the week to 967.71, its est level since May 14, 1969. Volume on Wall Street was 9.54 million shares, up from 8.79 million last week. Base metal issues recorded moderate advances, buoyed by strong performance by zinc producers. The base-meta" ndex on the Toronlo market ose 1.166 points to 97.62. Western oils dipped fraction- !ly lower. The Torcnto mar- :et's western oil Index was down .07 points, closing Friday Dr. Homer said the Alberta In 1971 Alberta producer1 !overn in e n t has discussed about Ions of sugar from problems with local sugar pro- 43.000 acres of supar beets in ducers and will support them at tariff hearings. The province can do things to help, he said. southern Alberta's farm land. irrigated [wo, Mr. Miller said acreage is to Promote the expansion of the processed food industry so that there will be more local sugar used in food such as pastry, candy and c a n n ed goods, and, fight for a 'more rea- sonable' tariff policy on import sugar. The minister said the tariff situation is complex ami is not simply a matter of pressing for higher tariffs on imports. "We're not asking for protec- he said, "It's more com- plicated than that." be Increased this year to 000 acres. The entire Industry In the province consists of production for refineries at Taher and Plc- ture flutte, both owned by Ca- nadian Supar Factories Ltd. with R third refinery at Winni- peg, llw company owns tha total Canadian supar process- ing industry, he said. V'et this Canadian sugar obtained from sugar beets consisls of only 15 per cent o( the sugar sold In Canada. The other 85 per cent is cane sugar, imported from abroad. Vancouver Island Properties RETIRING ON THE COAST? Relocating Your Business? Or just interested? GRAE LANGSTON of Island Pacific Realty, Victoria B.C., li home for a vitit and will bo pleased to aniwer any question you may Please Telephone 327-3790. Net earnings By THE CANADIAN Canadian Foundation Co Ltd., year ended Oct. 31: 1971 loss; 1970, loss Cornat Industries Ltd., yea ended Dec. 31: 1971, 2 cents a share; 1D70, 1 cents. Crown Zcllerbach Canada Ltd-, three montbs ended March 31: 1972, million, 31 cents a share; 1971, million, 16 cents. EDP Industries Ltd., year ended Dec. 31: 1971, million loss, a share; 1970, million, East Malartlc Mines Ltd., year ended Dec. 31: 1971, loss; loss. BUY NOW! MUST SELL IMMEDIATELY 1811 IAKE POINT ROAD 5 bedroom home (3 upstairs, 2 down) One block north of College Mai! 2 baths (1 up, 1 down) fully carpeted up and down Completely finished basement (rumpus room) landscaped Fenced 18 months old Call JOHN HA1BECK PREFERRED REALTY Offke 328-3420 Residence 327-4436 Are You Satisfied With Your Present Job? Excitement Incenrlva Security Are yourj If you can qualify for iril; poiiriom Guaranteed income being Irainpd, Commissions and bonuiei mako ihii ono of moil hffjhly paid ]obi in Canada. You'll bo trained In every phase of this work and you will be given supervision until you arc lutcesifui. Full rongn of torn puny benefits Included. For personul Interview write BOX 1 1 7, Herald, with persona! historyl Lethbrldge Effective April 10th Our Phone Number HAS SEEN CHANGED CONNECTING ALL DEPARTMENTS SALES DEFT., SERVICE DEPT., PARTS DEPT., AND USED CAR DEPT. Beny Chevrolet Oldsmobile Lefhbridge 2nd Avenue and 8lh Street S. CrOSSWOrd ByHeibL.Risteen SEEN ON THE BOOB TUBE Alta G T Cons Gas 514% Dynasty 7 Acklands 714% Sour Rain Tr Cdn P 5 WC Tr C 51471 WC Tr '90 133.00 137.00 '89 96.00 93.00 '82 96.00 101.00 '88 96.50 97.50 '88 89.00 92.00 '89 107.00 109.00 '88 102.00 104.00 '91 135.00 137.00 TAX INCOME The city of Saskatoon col- lected million in taxes in 1971. gains during the week, helped CONESTOGA MOTOR HOME 1S02 2nd AVE. S. by UTHBRIDGE, ALTA. McDONELL MANUFACTURING THE MOST COMPACT MOTOR HOME ON THE MARKET TODAY. 18, 11 cind 24 ft. capacity Motor Homos THE smoothest riding Motor Home made today THE Home with the least noise inside while travelling THE only Motor Home available today with the riding quality of a Inrgo automobile THE Manner of conslruction of the 22 ft. capacity molor Home with recessed bumpers is the only Molor Home known today with gaucho beds and gaucho dinelto that can be lawfully parked at a parking meter of any city THIS Motor Home has more upper cupboard and stor- age space than most other mokes CALL at our factory and sen for yourself, check tho conslrucflon and make comparisons TRY OUR RENTAL PLAN ByGene Fawcelte FROM POLWTIOH TOM fen WATER PLANT CHOKING SO MAW LAKES AND WATERWAYS BECAUSE PHATE POtiUTION-AWSCON BE HARVESTEO FOR PAPER. U. OFFLORIDASCIENTISTS BELIEVE IT'S SUITABLE FOR MANY fWERBOARO 7Mr 5 TV 15 TONS OF KfUJl THE HOTEL WITH MORE TO OFFER AND VII NOW HAVE COLORED TV For Your Convenience In Making Reservationl CALL AND ASK FOR LONG DISTANCE ZEnith 0-7255