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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 21, 1972, Lethbridge, Alberta Lower market trend continues TORONTO (CP) Western oils edged fractionnlly liiglier prices in ntticr .seclni's of UiG Toronto stoc'k mai'kct con- tiimecl to drift lower in moilcr- nte mid-morning Iradini; tmlay. The industrial index clown .39 lo 202.3.1, Rolds J.03 lo 177.43 and base metals .15 to 97.05. Western oils up to 22230. Volume by 11 a.m. was ra.OOO shares, down from OVt.CiK) at the same time. Thursday. Advances edged declines 119 lo 103 with 2lf> un- chnngl'ii. Bigfjcst losers were beverage, merchandising, Ktcc'l. oil refin- ing and industrial mining slocks as 12 o( the industrial index's 17 sub-groups declined. Hanking, pipeline and real eslate issues moved Fractionally higher. Kalconbridge was down lo Imperial Oil 's to f31Jfe, Denison to Dow Valley Ik to Tnco lo and Moore VB to National Sea Products lost '.a to Power to S9'.L-, JUST ANNOUNCED-A NEW SERIES OFCARTRIPGE- LOADINS 11NCH THICK! ANESV-SIZE PROBJCES PRINTS MO PROJECTION SLIDES FROM A 3Omm I1OR 2O EXPOSURE 6LIP-INCARTRITCE... AHO wtiGNsjusT a iss. Nova Scotia Savings I lo Floyal Trust to and Walkcr-Goixicrham '.'i to Iludd Aulomolivc ro.sc 'h to Slater Walker to Coniinro Vz to S2fl, Tnra Vi lo Asamcra lo and Traders Croup A to SLUMP MONTREAL (CP) Prices slumped in all sectors in lighl morning trading on (lie Mont- real stock markcl today. On index, industrials declined .48 lo 205.42, ulilitilcs .Oli to JM.I3, banks .07 to 274.W, Ihte composilc A1 lo 20-1.B3 nnd pa- pers .31 lo 83.2li. C o m 1) i n c d on the Montreal and Canadian slock exchanges at 11 a.m. was 489.HQO shares compared wilh at the same time Thurs- day. liglilipliting tosses on (he Monlreal Slock Exchange, Kal- conbridge Nickel declined lo Texaco Canada J'i lo S4G'i, Sherwin-Williams ni lo WalkerGooderliam to and Clf, Pi to In gains, Cominco rose lo S281'; and Laidlaw Motorwav'S !o K5. JIODEST GAIN NEW YORK (API Stock market prices clung lo a modest gain and were drifting today. The Dow Jones average of 30 industrials at noon was up 3.68 at M.97. Advances led decljnes on the New York Slock Exchange hy 7 lo 4. Among Canadians. Distillers Seagrams at and Genstar Lid. at both advanced while Alcan at sanj and Dome Mines at both were up '4. Walker Gooderham at de- clined On the American Stock Ex- change. Brascan Lid. was up Vz lo J227s and Canadian Mnrconi advanced "i lo S3.37. Scurry Rainbow Oil declined '1 fo JOHNSTON SMllIJ, C.A., MT.Af.C. The Thomo Group Lid., Manage1 merit Consultaots, is pleased to announce tho appointment Johnston Smith, C A., M.I.M.C., as Vice Prcsicfcnl. HG he re- sponsible for the firm's practice In Manitoba, SashMcticw.in and Alberta, and v.ill rcsida in Winnipeg. Termination dale set for quota WINNIPEG (CI'l The C quota for soft while spring wheal will terminate May 26. Ihc Canadian wheat board an- nounced today. The lerminalion dale gives producers live weeks lo com- plete their deliveries under the quota. The five bushel C quola for soft white spring wheat mnv is in effect in all Prnirie shipping blocks. Delivery opportunities liavc advanced lo the fourth quota level. The five bushel D qunta also is in effect in all blocks and brings producer ric livery opportunilies for Ihis grain up lo 20 bushels a quota acre. Put your Castle on Wheels. Triple-E. TripIu-K ntfcsr n fnll rmiRC n[ nltraclivcly pricnd, bntlcr Imill Irmlors from fourteen In fwonly fcnt, plus n superior nijjlit fool truck ri'imper. All trailers luivn Duni-FIcx axloH, nlkslcol bridjje-brnretJ frames, ami hvo incli, fully insulalrd l-'ind out why sn many people uny, "Triplfi-K pnt Wheels on a man's CJastln." i-.ri (JftUirnhl' WtlLWllI PONDEROSA AUTO TRAILER SALES LTD. 70th Si. nnrf 3rd AW-. S. Phono 327-2747 Miscellaneous (flotations Vancouver, Calgary, Montreal April 21, 1'77 Tilt UTHeSIDCf HfRAlB 19 The c olu mn I Ijy Uohcrty, Mt.-Ciiolg Limited) LAST HID Oil SALE WES7ERII OILS CJn Hormstd Ctln IniJ i Ctfn Suprr Cdn Long It CharPer Chief f An Dnrnn Gt Plaim G1 C-in Oil L whit I N'-rln. Cdn Oil a.rr Hugh 5B M A.m. Qui Mutual Ac 5 Nol Re% i 60 N W Fin IX B7V, U W Gf oo Principal fir rV-inflrjt Pacific Pe'i i Toleriync Cdn J-ed While YuVcn i CALOAHY A-roll 3 5 Bear 50 1 li Jd.iO 3.00 R L. Hudson Bay M-S 35.50 Hydra Ex. .18 Iron Day Jolisf Quebec Kerr Addison Key Anacon Langls Silver Madsen R.L G.F. Me fa Midrim Inlern Mcgjl h4u Wcsl MCA- Afhona Celumet W. Horse Copper Wcranda Norlhgafe or Atco Inrl Allan Sugtr Agra Ind Pell Tel Braiil Trc B.C. Tel Ourns B.C. Sugar Bow CAE Ind i Cdn Bre-.v Cal Coron Credit C.W.N. Gas Cdn Can Marconi Cdn Vidkeri i Cwii Ba'h Ctmi CBS Cdn W.tj. Gal Disr Sea Dom Brldgt Dom TexlTlfl 10.25 A. 75 U.W 22.50 43.00 14.50 30.7S 7.37W 7.67 1SH I 30 13.CO 2315 17.M i m, Qual Dom Stores i Dome Pete Dolasco Cable Fd ol Gt Cdn Oil Gen Molars i Gt Lakes Pap Gulf Oil Cda Greyhound Huron Erie t Hiram Walk. Imperial OH Imasca InT NickPl Inl Pipe Inv Gp A Inl LKIIilles Indusf Accepf L AiircnMda Kelly Doug A i Loeb Loblaw A Melro b Ccrp a Molsons A Molsons B Kwlh, Cent PDABC Corp Price Co Rathmani St I aw Coc> ihfrll CHA Simpscns's Simo Soars SI eel of Can Selkirk A Traders Gp A Trans Vfn Pt> Can Pp Union Gas Uriori Oil Versatile MFg Union Car Westoo's B r Woodward's A West Cdn Ed i Zenith Elec i BANKS Can (mp-rial Montreal Nova Royal Tor-Dcwn U.JS 7J Cfl 60 11.75 17.50 26.00 19.35 30.35 J4.35 31.67V 32.CO 3362' 31. 4.43' 19.00 71. A31 71.25 11.371 9. SO 18.75 71.00 42.87' 35.37' Neiv York stocks (Snpplicd By Richardson Securities of Canada) Amr T T 41 Seari US M 25 Goldp up I W Jl.W-Sfd OH of N J. Baw Alel P7.M off 17 Relh Slrrl Gulf H6.7S U Olli 111.PS cl( .0? Chrysler 34.13'-; Texal Co Volume l.ltJ.OOO Comjal ft3.13' i Wlckes Corn W vney DunCTf "3.3S 11 33 NEW YORK AVERAGES G CA S? M M Indusf ?49.97 up 3-67 Gulf 35 JS Sled M Rails 177.19 up .M Inl Uarvwtpr XK TrtQrtUTrt UIIIIHes crff -M Copper 2S TORONTO AVERAGES 6S slocki up .M Ward 30 Ifldust 707.il rtf -W Volume Spending watchdog is needed Ily T. II. In Canada today, vc liave n umher of imlcpimdcnL finnn- ial institutions observing and Hie liscal at'- j ohalics o! novcrnmcnl Ihc uclitor-gL'iLcrnl, llic economic puncils (both fetkTal and pro- inL-ialj, Hie Canadian Tax 'oundaLion, newspaper finan- ial analysU, to single out. a Ilul Uiet'c is a yap bclu'ecn [ovcmmcnt finance ministers nd Ihe Uic-y are ticnind o serve. In part, it is a crcdi- illily vacuum lint for llic tnost ian It is a comprehension and nformalion voiit. The slut ihould he fillctl by a kind if citucn opcratecl srnmetit fiscal comnicnliiUir vho.se function il is Lo report 'bjectivcly -and conspicuously m povornmcnt budgets as well is other financial The reason for the growing need for someone lo fill the role of honest broker is llie ever spreading confusion and controversy in Ihc political arena over interpretations of .he economic data. Therm has developed such a proliferation of statistics that all too fre- report Is I hen the Jef'i.-ilatujt, upon in the media and UK- pulj lie is expectwJ to romi; enlightened. [evr-i.st: ii. ,-i-; iiijlly the cast. POLITICAL TOOK In recent ye.'jrs, many crnmt.'iiLs, particularly tii'.- provincial level, have 'h': biidgcL speech and supj-oiiinj; Uiila as a political profianaivla tool. Tticy u.sc! selective SI.MIS- tic.s to .show a fine- Iticy'rc doiny and ignore Uch- iiitmes ol prcscnialifin uhirji alarm the public. Th': rjpposiLJuT) may v.ell flu same, or any evont, Ihc lic bolicves Iwlh sides arc dis- tortinj-; the fiscal fac-l.s lo their i ov.-n political i.ntl (dfie.sn'l have confitk-nct! in (hf: 1 cntlj'e proce.s.s, priinarly lx-- causc of ii.s lack o[ objectivily. The Manitoba debate ivhich conclmlcd this Is an out standing cxarnpc No in Canada is Hie chasm so wide between the govci'n- mcnt and opposition iiAtrpro- tatio.-j of fi.sca! data. The prnp- ernmcnl reports a sliphl defi- cit for next year. The opposi- tion claims it is understated hv Livestock report Calgary livestock ,.M.GARY (CP) Receipt OTJ Ihc Calgary livestock mar- ket lo 11 a.m. totalled head, practically all replace- ment entile and slock calves. Trade was strong find active. Tew stock cattle on offer sold in line wilh Thursday's prices, quality considered. Choice steers 36 to 36.30, good 35 Co .TO, medium 33.50 (o Good heifers 33 to 33.75, medi- um 30 to 32.50. COCK! cows 27.50 lo Zft.fiO, medium 25.50 (o 27.25, camicrs and cutters 21 to 25. Good bulls 2B.50 to 30. Replacement cattle were mostly steers and li c i f ers, weighing 57-5 to 700 pounds. AH classes and grades of replace- Beef futures WINNIPEG (CP) Live beef futures close Thursday. May 35.SOB; Jly J4.30B; Sep 32.55N. Wednesday's volume: S i x ments sold on A strong basis, Good feeder steers 575 fo 750 pounds, 33 to 41.-10, more than 750 pounds 41 to 57. Good feed- er heifers 575 pounds up 3250 to 35.30, good slock and feeder cows 23 to 28. Good slock steor calves under 400 pounds 4G io 49.60, 400 pounds up 40 to 45.SO. Good stock heifer calves under 400 pounds 38 to 42, 400 pounds up 34 lo 37.25. Hogs average base price 28.95. qucnlly they can be used prove anything: that black is white, that a loss is a profit, thai a deficit Ls a surplus, a tax- rise is realty a tax decrease. The interested public really doesn't know to believe any longer the various gov- ernments who have charge over their liscal affairs, or the critics both in public and pri- vate spheres who comment on government finance. For example, in a given month, (lie statistics ivill show that unemployment lin-s in- creased. Opposition crilics will attack a government for its handling of the economy. The government may counter by pointing out thai while the number of jobless has in- creased, the number of unem- ployed has also increased, as has the number ot new jobs. but (he number of new people entering the work force, such as students, immigrants or working wives, has risen fas- ter. TEMPORARY PROGRAMS The government opptm e n I mil Ihcn point out that the true unemployment picture camouflaged by unreal, temp- orary, make work, govern- ment programs, such as ter works or OpporluniLies For Youth. At the provincial level, e government may report a dwrease in u n e mploymcnt, while its opposition points oui that several thousand unem- ployed have left the province looking for work, and that the decrease in unemployment. i> really an illusion. The question is. whom can the public believe. If it wants an honest analysis of its eco- nomic affairs. At this time of year, (he need for an objective financial re- view institution is highlighted as the federal and each of the provincial governments trot out their annual budgets. A s they present their report nn the past year's spending and revenue, their forecast, of Ihe current year's income anil out- go, their plans for borrowing for capital spending, they also report on the state of the eco- nomy. The finance ministers' hud- nujf h as MfiO nnllinn '.ii'i. Rapeseecl had some buying jjv" interest and intcrnionih spread- j Qr'j ing with prices unchanged lo fractionally lower. Oats, barley and rye lincl only lighl local activity. Thursday's volume of trade was 409.000 huslicls of flax, 2.- 493.000 of rpacseed and of rye. .Mid-session prices Sheraton Announcement 1'34'j 2B6 283' Itaposcrd Jlln 28S1! 2C6 V.I'.' Ocl Nov 260J4 Jan 2.i7-i Flax: May Hnpesrrri Thunder Bay 267 DfU'i '2 lower SS'sB; J'y .July 1 lower .84'..B; Oct. 1 N'ov, 1 lower 2.81 Rapcsecd June unclinngcd 2.67i.TA: Scp un- clmnRed !.G3vjB: Nov. and .Ian. not open. liapcsecc! Thunder Bay: Oct 2. O.i is May _ Jly' Oct Il.irl pi- May not opera; July !t lower 2.57B: Ocl. lower 2.54'sA: Nov. not open. Onls: May unchanged rtve July >s hifilicr 09B: Ocl. un-' May it" changed 70. Barley: May unchanged On 10J' i in 111 Mr. Irving Zeldmnn, Preil- dL-nl o' Slicralon Inns Inc., worlo-wico subsid- iary pf I.TT., 15 pleased 1o announce Ihc clL-c'ion of Mr. Samurl Swilzcr us chairman ol 1V.I- Crnadion Council o( Sheratcn Inns, divi- si an. A'.r. well-t.nOA-ri Inn- VcEpcr ct Calgary i SKerolon- I r, n, is ihe sec- ond TO ricld ihis ICD pcsif.on in Ine 5Hera- TOTJ CL'-cdiPn pprrD'ior.s. tleciicns nDld In Von- ;of--cr re-enMv ID with Ihe crficral ooening ef rhe now S-eralcn Plaia 500. VVifh (Jie plcnnrd oper.inp in October 1972 of the >5cond Vancouver locution. Tne Shero- ron and tns No- -ember '72 opening of Tor- pnlo't "Four Seasons Shero- the Sherclcn group be- comes Canada s lerecst nospi- lallry chciln wilh 7500 roorm. Dividends n.v T1IK CANADIAN PESS Imperial l.lFcv Assurance Co. rvf Canada, 70 cents July I, record June 8. I.olilnw Co. I.Id.. 52.40 nfd. 60 June I, record May J5. I.ohlnw Orocclrrias Co, Mil.. [irst pfd. scries A n7'j second pfd. SI 50, both Junn rcconl May 15. Texaco Canada Lid.. 27 cenUs May 31. record May 12. Traders Group I.Id., class A 17'i cents; class II 17'3 conl-s; 4'.2 per cent scries A five per cenl pfd M cents; five per cent pfd scries A 374 ccnls; IS pfd. scries B 54 ccnls, nil July I, record June 9. Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided by Ihe Alberta Hog Producers Markcllnr; Board: Edmonton: 28.90, average Thursday 28.42. Red Doer: 28.85, average Thursday WM. Calgary: 28.3S. average Thursday 2S.4a. Lethbridge: n 11, overage Thursday 28.45. Lloydminsler: nil, average Thursday 27.SG. Grande Prairie: Nil, average Thursday 27.38. Tolal Imgs sold 3.156. total hogs sold Thursday aver- age 2H.3D. Sows average 21.20. Net, profit increases for FP O'lTAWA I-T cnlions LUl., Winnipeg. .T consolitkilcd ncl profit (if Sti.Tli inillinn in J971, compared million in finnnrinl KtatcmunLs filed with the gov- ernment show. The profits ccjuivalonl lo S-Hi.2.1 a Class A preferred and n Class li common sharp, up from and n year earlier r-T Publicalinns is publisher of the Toronto CJlobc nnrt Mail, Ottawa Journal, Winnipeg Free Press, Calfiary Albcrlan, l.otli- hridgc llprald. Vancouver Sun, Victoria Colonist and Victoria Time.s. Assets of Ihc group nn Dec. 31, 1971. tolfilkvl million, up from million a year earlier. ESTIMATOR-DRAFTSMAN REQUIRED By Local Steel Building Firm REPLY IN PERSON WITH RESUME lo BEHLEN BUILDING SYSTEMS COUTTS HIGHWAY Officer Ice n ltd In Gsneral Farm Suppliet Main Bui Id inn DEMONSTRATOR SALE 1972 MODELS NO. 1972 SWINGER 2 Grnen, V6. AT, PS, PB, R. Vinyl roof, lew mileage Reg. S4209. Speciol S3995 NO. 2-129 1972 COLT 2 Oangc, AT, WSW (ires. rorfio, 2000 milpv Reg. 3010. Special 52795 NO. 7-154 1972 CHARGER 2 DR. Green. 4V, AT. PS, PB, R. V rool. bL nnd console. 3000 miles Reg. SS477. KO. 2-73 1972 CORONET CRESTWOOD 5T. 5W. V8, AT. PS, PB, R. roof rock. Blue 1300 RI-O. 553.18. Spr.ciol NO. 2-159 1972 CHARGER 2 Gold. V8. AT, PS. PB, R. Reg. J500-1. Spctiol S4595 1972 POLARA 4 DR. Green. VB, AT, PS. PB, R. 3.000 miles. Rcg.SJ990 St-d.ol ?4395 NO. 7-45 1972 POIARA CUSTOM 2 Red. 400 2V. AI, PS, PB. Buc'.cl -toh vinyl reel. 2000 milei. Reg. 5535. 5r-eiol 55095 NO. 2-146 1972 POLARA 2 Glue. VS. 41. TS. PR. P Vinvl roof. 3500 inilps Bog. J4961. Sprciol NO. 2-105 1972 POLARA SPECIAL 2 ST., SW, beige, 360 VS AT. PS. PB. R 3000 mlk-i. Reg. 55.161 Spofiol NO. 2-111 1972 NEW YORKER BROUGHAM 4 cmplctr willi a--d Grcrr 35.00 Rea. S6700. Spec ial 7495 NO. 2-119 1972 NEWPORT ROYAL 4 IjrriooisP '100 VS. AT. PS. P_9. f rorl. )800 milcv Reg. 35931. Soe.ial S4995 ONE ONLY J971 DEMONSTRATOR Polaro Special 2-rlr MT Blur-. 5.000 milpi. VB, AT. PS, PB. R. Reg. Si51 I. Sprciol 53295 KING CHRYSLER DODGE 3rtJ AVENUE Uth STREET S. IETHBRIDGE PHONE 328-9271 ;