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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 30, 1973, Lethbridge, Alberta Monday, April 30, 1973 THE IETHBRIDCE HEftALD Market prices drop sharply TORONTO (CP) Prices on r Combined volume on the Mon- the Toronto stock market fell sharply in light mid-morning trading today. The industrial index, consid- ered the major indicator of i day. treal and Canadian stock ex- changes at 11 a.m. was shares, compared with shares at the same time Fri- market trend, was down 1.57 to 215.89, a new low for the year, base metals 1.40 to 93.35 and western oils .15 to 230.10 Golds however rose 2.70 to 269.46. Volume by 11 a.m. was 000 shares compared 000 traded at the same time Friday. Declines more than doubled advances, 148 ti 70, while 160 Industrials fell 2.40 to 233.34, the composite 1.92 to 221.50, pa- pers 1.41 to 116.52, utilities .78 to 154.88, and banks .71 to 264.69. Labatt dropped 1% to Noranda ila to Great Lakes Paper 1% to and Home Oil A 1 to Credit Fonder gained W to On the Canadian Stock Ex- issues were unchanged. i change, Gaspe Quebec dropped Bank, beverage, industrial Lighl5 cents on mining and pipeline issues were among sectors of the market recording declines while com- munication, general manufac- turing, steel and real estate stocks were higher. Trading in shares of Overland Western Ltd. remained halted, pending release of information by the company. The common snares closed Friday at S7% and the second preferred at Mines fell 1% to Elks Stores to Con- sumers Distributing to Stelco to and Shell to Pacific Pete rose to and Block Bros. 10 cents to Brunswick Mining was off 10 cents to Chemalloy five cents to S3.35 and Teck Corp. A five cents to Woodsreef gained 11 cents to cents and United four cents to Chieftain slipped V4 to C.anadian Pacific to Hudson Bay V4 to Inco V2 to Mclntyre was unchanged at On the American exchange. Brascan was unchanged at; while Canadian Javelin gained a Vi to Cotton farmers may not plant DEATH Earth eater MEMPHIS, Tenn. (AP) Flood waters covering southern j cotton fields may mean higher prices in the United States next fall for consumer items ranging from cotton clothing to steaks, i Faced by the worst flooding of the Mississippi River and its tributaries in a quarter-century, many farmers are saying they doubt they will bother with a cotton crop this year. Lloyd Dinkins, an officer of the national cotton council in Memphis, explained that cotton is the crop that takes the long- est to mature. This means farmers are more likely to go to short-season crops such as corn or soybeans the longer they have to wait before plan- ting. "Yes, I'm sure It will cut down the crop he said. "That could cut back on the supply of cotton seed meal, which goes into livestock feed; and naturally the cattleman's feed is going to cost him that much more." Reduced cotton supplies could be expected to lead to higher prices for cotton clothing later this year. Ray Converse of the agricul- SLOMP Passed away in Picture Butte on Sunday, April 29. 1973, following a lengthy illness, Mrs. Lammigje Slomp at the age of 77 years, of Iron Springs, beloved wife of the late Mr. John Slomp. Funeral i arrangements will be announc- ed when completed. MARTIN' BROS. LTD., Directors of the Funeral Service. C9097 lure department's crop report- ing service in Missishippi esti- mates that less than one per cent of cotton planting has been done in tot state. Roy Boss, who is Converse's, counterpart in Arkansas, says j CARDS OF THANKS of cotton: "We've planted prac- tically none. Let's face it. we've missed the ideal planting time." Hog prices EDMONTON age prices to (CP) Aver- 11 a.m. today TENNANT I wish to thank my many friends and relatives for all the flowers, cards and act of kindness during the loss of my loving husband, John. Tennant. 1538 provided by_ Alberta Hog McVEAN We wish to ex- press our sincere appreciation to those who sent flowers and cards and assisted in the funer- al arrangements of Rhena Me- Vean. Also to the hospital staff and doctors during her illness ui the hospital. It was all deeply appreciated. W. Ferguson and familv. 1552 Board. Edmonton: 42.00 average Friday 42.54. Red Deer: 41.95 average Friday 42.25. Calgary: 41.95. average Friday 42.33. Total hogs sold Friday average 42.33. Sows average 35.00. FISH EATEN Consumption of edible fish IN MEMORIAMS products in the United States j has averaged 11 pounds or more.' a person each year since 1968. With its bits bristling like an overweight porcupine, a diesel-hydrbulic mining machine is displayed recently at the International Fair in Hannover, West Germany. In operation, the spiked drum is propelled by a tracked mover, not shown, and rotates forward, chewing a 12- foot-high tunnel through earth and underground ore de- posits. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied fcjr Dofcerty, McCuaig Limited) LAST BID OR SALE Credit proposed for oil., gas exploratory drilling CARLSON In loving mem- ory of Albert Carlson, who paw- ed away April 30, 1940. remembered by family 1551 WASHINGTON (AP) An in- j credit of five per cent of in- vestment credit for exploratory tangible drilling costs to be 1 for drilling for oil and gas in the j taken against the first tax pay- rredf United States was proposed by i the Nixon administration today I to promote the search for new energy reserves. MONTREAL (CP) All sec- tors declined in light trading on the Montreal stock market to- day. Grain prices Winnipeg grain WINNIPEG (CP> Rape- advanced one to four cents in light trading today at mid- session on the Winnipeg Corn- modify Exchange. Vancouver contracts were more in demand, posting gains of 2 to 4 cents. Thunder Bay furtures ranged from 1% to 2% higher Flax worked slightly lower and was 1 ed. lower to unchang- Oats and barley were fairly steady in routine trading, rith barley falling off to one cent in the new crop. Rye was steady in fair de- mand and was to l Ms tower. Friday's volume of trade was bushels of flax, 995.000 bushels of rye and bu- shels of rapeseed. Mid-session prices: Flax: May r lower July unchanged 5.15; Oct. un- changed 5.04B: Nov. tower 4.95 %B. Raoeseed Vancouver: June S "higher 4.02 %B: Sep. 4 higher 4.02 %B: Nov. 2 higher 3.95 %B: Jan. 3 higher 3.92 %B. Rapeseed Thunder Bay: May 1 'i higher 3.82: July 2 Vt high- er 3.82 %B: Oct. 1 higher 3.75 %B; Nov. l higher 3.66 Oats: May V4 higher 1.15A; July higher 1.14 3iA: Oct. higher 1.09 Dec. low- j er 1.08 Barley: May unchanged 1.58 MF hikes price of tractors TORONTO (CP) Massey- Ferguson Industries Ltd. an- nounced today a 1.54-per-cent increase in list prices of new tractors and combines sold in Manitoba. The company also announced that list prices of farm machin- ery repair parts have been in- creased two per cent, effective today. R. E. Drennan. vice-president of sales and distribution, said the increases are necessary to cover added costs resulting from the new Manitoba Farm Machinery and Equipment Act which became law March 31. The act requires a three-year warranty for tractors and com- bines, a one-year warranty on all other farm machinery and a one-year warranty on all farm machinery repair costs. Canada Packers profit rises TORONTO CP) Canada of or a share, up from and in the previous year. Dollar sales rose to bil- lion from S937.72 million. The company says in a report to shareholders that profits from non-food operations were about the same in both years. Buotet) WESTERN OILS AND MINES Alta East Gas Alminex Asamsra Ashiand BP Canada Breno'a Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil Lochiel Lytton Min, Noble Mines North Cdn Oil Numac Pancdn Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger 'Scurry Rain Seibens Spooner Total Pete Ulster West Pete w. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd AquJtame BC Suaar P'd Block Bros Brinco Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestcrook Ind Crowsnest Indust a.m. Ouowil i.m. Quotes) 15.00 5.25 3.30 3.65 6.95 .22 51.25 .33 3.00 9.75 29.50 8.60 2.30 1.55 1.16 7.30 14.50 13.50 13.50 7.00 16.25 39.50 Cygnus A Cygnus B 8.60 Falcon Copper 5.75 F and M Trust 10.37% Gensfar 13.50 Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War ._. Husky E War 10.1216 Inter Prov Pipe Inter Prov steel ?.15 Kaiser Res Loblaw C Pfd Magnasonics Pacific PW Air Pe-Ben Oilfield Rainier Royal Trust St Maurice Cap Sandwell Teledyne West Cdn Seed 12.37% Westfield Min 1.28 Weston A Pfd .23 White Yukon .62 PIPE LINE STOCKS .40 Alts Nat Gas U.25 25.00 Alta Gas Pfd '6.25 Alta Nat -Gas 13.3714) Inland Nat Gas .45 N and C Gas N and C B Pfd Pacific Trans Gaz Metro Gaz Metro A Trans Cda Pipe Tr Cda A Pfd Tr Cda B Pfd Tr Cda War WC Trans WC Trans Wts 7.87% Cdn Invest F 7.75 Col Mutual Cmnw Inter Cmnw Lev Cmnw Vent Corp Invest 5.66 5.64 6.19 15.13 3.97 gress. Under the plan, drillers new domestic exploratory wells Jiis l'.u! would receive a seven-per-cent t'u s'fl! investment credit on intangible Carrybacks and carryovers the exploratory-drilling credit would be available on a similar basis to the investment tax credit. Treasury Secretary George Shultz told the House of Representatives ways and means committee in presenting the plan. The seven-per-cent credit U.S. territories and possessions, i would apply to all intangible of j CREDIT LIMITED i drilling costs as currently corn- able on net ncome from pro- duction. If Congress approves, the i credit will be effective for all The credit proposal was con- j drilling started after April 17 in tained in the administration's j the United States, including off- tax-reform package sent to Con-' shore, in Puerto Rico, and hi ORICH In loving memory !of a dear rather and grand- father. Harry Orich. who passed away April 30, 1970. I remembered and j sadly mised by John, Gladys i and Jim. 1553 Di SABATO In loving mem- ory of Remo, who passed away April 28, 1971. Two years have now passed away, But in cur hearts your mem- ory will stay. remernberea by his wife, Josephine and family. 1336-30 The credit would be subject to i puted. The credit base would in- j the same over-all limitations j elude an allowance for geologi- that currently apply to the; cal and geophysical costs of VAN DEN7 HENGEL John p i investment, cteuit uu tiiat cunciiuv aupiv iv UK anu F u.s! iLso KM drilling costs plus an allowance i r e gu 1 a r seven-per-cent in-! to for each exploratory Sr., who passed away April 47.50 Great pacific 4.77 s.221 {or and geophysical! vestment tax credit. This j well. expenses. i means that credit can't be i Only wells 1.250 feet or more j the well pr0ved com- j claimed beyond plus 50 i in depth would qualify for the 6.70 .98 7.75 5.25 5.37VJ MUTUAL FUNDS 27.50 At Cdn Com 7.51 121 32.75' Ail Cdn Divid 27.75 All Cdn Vent 8.25 Amr Gr F 27.25 AGF Special 2.69 5550 Gr In Shares 44.00 Gr Equity 20.37V4 Invest Gr f 4275 Invest Mutual 6 60 Mutual Ac 820 Mutual Gr P y 75 Nat Res N W Cdn 3'10 N W Gr Principal Gr 12 00 Royfund Temp Gr United Ac Universal Sav Univest Vanguard CALGARY Acroll Barons Oil North Continental Western Warner VANCOUVER MINES Afton Atlas Explor Bath Norse Croyden Dankce Davenport Dolly Varden Equitortal Res Lornex Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Capt Inter Columbia Brew Hys Cdn Key Indust OILS 8.11 8.86 Albany Ess 3.90 4.26 Plains Pete 5.47 6.01 Stampede inri Res 27.75 ll.W 7.00 4.38 27.25 1.10 3.55 5.00 6.00 1.25 64.50 13.62 Vi 12.54 13.71 5.92 6.48 I 6.15 6.77 j 3.68 4.05 I 7.83 8.56 5.61 6.16 I 5.08 5.58 4.54 5.98 6.80 7.08 9.26 10.12 5.27 5.79 8.78 5.98 6.57 6.61 7.24 .03 mercially productive, there per cent of the pre-credit tax i allowance "in order to would be a supplementary liability in excess of J prevent abuse." Shultz said. There is a road called remem- brance, Where thoughts and wishes meet. We take that road in today. To the one we catmot greet. remembered by Shir- ley, Ronda and Peter Van Den Hcngel. 1554 11.00 10.50 23 JO 12.2S 4.70 67.00 37.25 S7.7S 41.00 8.00 22.00 4.50 West Explor .35 7.75 .52 .79 .05 1.15 .49 .28 .19 .14 .16 .68 9.75 1.80 3.15 5.50 .29 1.08 !79 .07 Toronto mines., industrials (Supplied By Richardson Securities of LAST BID OR SALE r.m. Ouornl a.m. Ouattsl Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian A: July unchanged 1.54 7i: Oct. funds at noon today was down Vf lower 1.54 MiA: Dec. l tower r-so at Sl.OO 8-25. Pound sterling 1.51 J4A. up 11-100 at 71-100. Rye: May 3s lower 1.5! In New York, the Canadian July -i lower i.54 3iB: Oct. 3i Cellar was up 1-50 at SO.H3 17-25. Jower 1.53 ViB: Dec. l low- (Pound sterling up 4-25 at S2.4S er 1.57A. 191-300. MINES Acme Advocate Ash. Akaitcho Bralorne Broulen Bethlehem Srunsv.ncK Can. N.W. Land Canada Tung. Cassiar Cecrtral Pat. Chimo Conwest Cons. Rambler Coin Lake Cocher.O'jr Craignr.ont Dickenson Denison Mines Horn O'Eldona Dome Mines Discovery East Wala B-ivis Y.K. .15 1.17 1.18 2.35 .37 13.75 4.30 6.45 1.75 10.75 1.34 1.38 6.15 3.75 !w 3.55 32.25 .08 ss.ce 1.30 2.70 73.CQ .25 Noriex Osisko Pine Point Placer Dev. P.C. Exp. Quebec Man Rayrock Radiore Rio Atgom Raman Corp. Sherritt Gordon Steep Rock Tek Corp. Texmont Upper Canada Western Mines Wricbi Harqreaves 1.25 Wiilroy 1.15 Windfall Yeliowknlfe Bear At-ilibi A'can INDUSTRIALS Glendaie .22 Grt Cdn Oil 31.25 Gen Motors Grt Lakes Pp 2.80 Gulf Oil Cda .lOVz Grevhcund HavAer Sid Hur Erie Hiram Walker Imp Oil Imasca Int Nickel Int Pipe Inv Grp A Int Util Ind Accept Kaps Lai'rer.tide Kelly Ooup A Loeb A 1.32 .31 25.00 7.30 16.25 1.60 3.70 3.90 3.10 .07 Atco Ind Ind Bell Ttl Suoar CAREERS Bsy ra Ex. Bay Krv oears Conado's foslcit growing business opening for COMMISSION SALES PEOPLE In Sewing Machine end Departinents Prcie'tnte will given ond We con you on opportoniSy for ofcovp crvcrogc end o -wide ronge Met Stores D.J71; Massev WcA'.illan Worre Coro 11.50 A 7.50 B 11.5ft Pcivcr Corp Price CO Sotnmans S'. Corp CDA Simpson's Sirro New of A 9.50 8.50 71.25 21.25 33 JO 18.75 4.25 28.50 51.50 39.25 33.75 29.75 24.75 ll.Ofl 18.00 12.50 7.00 4.80 4.37'-3 32-75 18.25 Oil spill control developer not eligible for gov't grant I away Ipril 30. 1970. EDMONTTON (CP) An Ed-! there was money available for i citing. I was under the impres- j lies in peaceful monton man who has developed research through the Alberta {sion we would qualify for a ORICH In Joviag memory !of a dear father and grand- father, Harry Orich, who passed a new oil spill control product says he is not eligible for a pro- vincial government financed research grant because of his own initiative. "Because I refused to wait for the dotting of the I's and the crossing of the T's, and in- stead went ahead on my own, I'm a p p a r e ntly Richard Baycroft said hi an. in- terview. Mr. Baycroft. owner of a plant that produces peat moss, says he spent to develop the product which involves pack- ing peat moss in a bio-degrad- able package that soaks up to seven times its own weight of oil when tossed into a spill on land or water. He says that although peat moss has been used before, he has refined the process so the packages can be tied into long Environmental Research Trust j grant, yet because we w e n t and he approached the body j ahead on our own, we're re- for a grant after his j jected." research. jWANT DREAMERS Dr. E. E. Ballantyne, chair- Mr. Baycroft said it appears man of the seven member re- search trust, has confirmed grant was turned down. "I have some sympathy for him the research trust cornmittee wants "dreamers and not doers." "If this is the way the re- he's done a good job. But j search board is trying to pro- he had the project done when I these things, they're dem- he contacted us. {onstrating a verjl negative ''What the board felt 5s he way of doing business." was in need of development! Even without the grant. Mr. money and not research financ- j Baycroft says his plant will sleep. His memory we shall always keep. remembered by daughter Polly, Frank, Keitfa and Dennis. 1557 ing." continue to produce the peat Mr. Baycroft said the federal j moss bags. "My plant won't government demonstrated the go under, but it is th.a principle product at a recent Japanese of the whole thing that has me trade fair. I annoyed." Dr. Ballantyne said the pro- j Baycroft says his prod- ject was within the guidelines j uct won't work on the high set down by the government seas or on rough rivers, but on when it created the fund last year for research grants. But booms to soak up oil. In the I when it came time to decide past, peat moss which has been who gets the grants. Mr. Bay- tossed on the water has sunk or j croft's research was all done j blown away. j aad ''we're not in the business Mr. Baycroft said he was toH j to make research money retro- active." "We did the research. we proved out Mr. JBaycrof! said. "The Alberta Research Council. Environ- !ment Minister Bill Yurko, the federal government and provin- c a 1 government representa- ti'.TS all feel the concept is ex- the "duck pond" oil spills that often occur in Alberta. Livestock 20. ?i 17.50 19 an 31 .TO ir.nn 14.SO 70.37'7 S3.75 31.75 I'.fln report Calgary livestock Trader: Oro Trans PS Trans Cda Wert W. Caooer Jt "D i? 50.75 3.75 J 70 T7.rn W.Jo. f ons Drtm 6 j A CcSri Timflti E1st SAMKS Vrws StpiiB 17.W Tor-Dtinn New Forfe stocks (Snppfird By Rtcliarffsra T Si .75 19.75 r "rxitt Co 51 SD 15 0" G-1 COPMFr rr-75 ws.wm: t'tc SViT-.- Z'-.Tj U.5. V.tT' Ttrl Hist 27.75 J7JO TOKONTO JO 73 ijH .i JO Sails 1S2.S4 up 15 U'iMilfS 1B6.K V.C.. tS JW.W up CALGARY fCP> Receipts to 11 a.m. today from the Cal- igary Public SSockj-ards sows isate? of 100 head of cattle, I mostly siaugisler steers. Trade was active. 1 There were in s u f f i cient j slaajhtcr sieers on offer lo cs-! tsblifti quotations. A few; slaughter heifers sold steady i for quality. Cows were mcslly in lower grades and sold Preliminary slaughter ficurcs for the -week ending April 3fi: Alberta boC5 W.494. bed 19.- 799. Canada bogs beef. 53.734. A5 and 2 40.75 1o i Dl and 2 33 to 34. D3 1o 32.75. 27 lo 31. There were insufficient rc- placcmcnl cattle or slock re on offer lo PfVJd fob! i By Gene Fawceite STAMP A SeW, SEVOUJTiONARY 70CAY" THE COOKTOP AND WORK- SPACE ALL MOUNTED iN A Xo bogs reported i Calgary to 11 a.m. Something (i Happening At RSVOSTDKC Don't Miss The Savings In Effect Now During 'SPRING RSVY DAYS' 3rd Avt. S. Phone 327-5777, 327 5888 Oprn Monday >o friderf a.m. to p.m. Snurdoy to p m. FREE DEUVIRY "CHASGEX" COMPANIES LTD. Want to see a parade? Ask us what's new. If you haven't seen our line for a long time, read this ad before you do. Otherwise be flabbergasted by all ins new international machines and improve- ments we've added in the past few years. Of course a company has to change 5o keep up wnh the times. Everybody knows thaj. But lately we've becfi doing much moie: surging ahead m design Features. Durab'iity. Acceptance tn the field. And sates. It feels so Vv-f. to determiner) to keen up t'ie rnori VuUon Modiintrf Equipment Ltd CAiC-AJJY 807 42nd Avc. t.l. PHONt ;