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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 4, 1971, Lethbridge, Alberta Wednoiday, Auguil 4, 1971 THE LETHBRIOGI HERALD 25 i M quotations Vancouver, Calgary, Montreal (SuDDlied bv Doherlv. Itoadhauso and ll.. rlimh UST BIDOR BALE Ouotel, a.m. Buoleil H% 1 1 Weaker evident TORONTO (CP) Prices in all sectors of Ihe Toronto stock market edged lower in moderate Tnid-monur.g trading today. On index, industrials dropped 91 tb 174.56, golds .71 to 18B.80, base metals .73 to 92.49 and western oils 1.14 to 222.65. Volume by 11 a.m. was shares, up from at the same time Tuesday. Declines oulnumljered advances by more than three-to-one, 158 lo 47, with 107 issues unchanged. Weakest sectors were banking, real estate, steel, beverages and industrial mining. Fourteen of the industrial ajid general manufacturing issues remained generally unchanged. Falconbridge dropped 3Vz to CP Ltd. to Bow Valley to Tara Vt to Scurry-Rainbow Va to today and Noranda to ?H. Shell Canada was down to Peel-Elder to Hamilton Group to and Gulf Oil 14 to Na-Churs International was up 1% to Sherritt Vt to toco Vs to Abilibi Vi to Alcan Vi to Kaiser Resources Vi to and Union Oil to PRICES OFF MONTREAL (CP) Prices continued off in most sectors in light morning trading on the Montreal stock market today. Combined volume on the Montreal and Canadian Stock Exchanges at 11 a.m. was shares compared with Tuesday. On index, the composite fell 91 to 176.72, industrials 1.13 to 178.51, utilities .26 to 151.83 and banks .7 Oto 206.04. Papers remained steady at 82.27. Among declines, Falconbridge lost to CP Ltd. to Shell Cannda to and Asbestos Corp. and Hudson Bay Mining and Smelting each to and respectively. Highlighting gains, Scott Paper rone to Phillips Cables to Financial Collection Agencies and Pacific Petroleum each ti and respectively. FIRMING TREND NEW YORK tAP) A firming trend halted sr. early stock market slide as blue chip stocks made small advances in today's moderate trading. The noon Dow Jones average of 30 industrial stocks was up 3.07 to 853.10. Declines led advances on the New York Stock Exchange by a small margin. Analysts attributed the early decline to Investor concern about the international position of the dollar; the economy and speculation the prime lending rate will be raised again soon. Other brokers noted that Uie market's severe losses Tuesday were something of an over-reac tion to concern about the possi ble prime rate increase. They said banking sources insistet another was unlikely soon. GLAMOKS LEAD Glamor issues were among the leaders in Uie firming trend Natomas rose 2% lo and Polaroid gained 3'A to International Telephone and Telegraph gained 1% to Rails, chemicals, metals electronics, and rubber issue wereup. Aircrafts and utilitie were off. All other stock categories, were mixed. The Associated Press 60-stocl average dipped .1 to 306.3, wit] industrials up .9, rails off .3 and utilities off .8. Dome Mines was up ?I among Canadians, while Canadian Pa cific dropped to Hud son Bay Mining was off Vs a ?22Vi. On the American Stock Ex change, Canadian Javelin wa up at and Scurry Rain bow added to (CP) Canada's orcign exchange reserves rose o a record million at ie end of July from million a month earlier, the fiance department reported oday. The increase Wis principally ue to .'Ji increase in US. dollar loldings by the BarJ; of Canada, Ire receiver-general, and the exchange fund account. They increased to a record mil-ion from increase in U.S. dollar loldings would result from sell-ng Canadian dollars in exchange for U.S. dollars in an ef-ort to bring down the high in-.ernational exchange value of Canada's currency. During July, Canada reduced Is holdings of other foreign currencies lo million from million at the end of June, foldings o[ these other currencies had reached a recent record of million in May. The International Monetary Fund sold million worth of gold to 14 countries during July, and Canada acquired the equivalent of million worth of it in rstum for Canadian dollars. Instead of buying gold for Canadian dollars Canada, usually a seller of gold produced here took 317.9 million worth of BIT special drawing rights. These sometimes called paper gold were instituted by the MF two years ago as a supplement to U.S. dollars in international settlements between governments. As a result of the transaction, Canada's holdings of SDKs rose to 5370.6 million from million. Actual gold holdings in Canada's official reserves remained unchanged at million at the end of July. In addition to gold, U.S. dollars and other convertible foreign currencies, and the SDRs, Canada's total reserves in eluded million which this country is entitled to draw from the IMF without question if it is needed for any balance-of-pay ments OILS Husky Oil Almlnex 5.75 Husky Oil B Alfa East Gas 5.D5 Husky Oil Wa Asamcra 19.B7VJ Inler Prov P Ashland 12.25 Inter Sleel PI IP Oil Gai a.95 Cdn Occidenl Con South 5.35 Corn InvBsl S F 91 5.36 Dreylus F U S. 11.78 i5.91 r Enmly 6.J6 7.10 pe Grnup Inc b 3. -19 3 64 e 7.00 Invcsl F 10.50 11.91 Bl 5 62Vj Invcsl ul 5.33 5.63 .73 Mul Accum 5 S.C7 5 75 Mul F rt.94 5 43 .52 Natural Rei 7 .n 8.09 U. N. W. Finance 4.49 L m 2.cO IJ.W. Gfowlh 5.13 2.00 Principal Grow i. IB .95 Royluncl i 53 5.75 37.25 Templdon G 6.67 19.15 19 25 Unitr-'J Accum 4.69 5.15 14.50 Universal Sav 7.35 7.97 t 35 fV'.j VANCOUVER ji.75 Anuk 154.2V3 Arclic Mininp 2.75 Alias Er.plora j 4.75 Balhhuril Norse d Rtlh Copper 17.00 12.00 DInck Ero5. 3.30 RY BroncJa 6. 50 75 n C. Sugar 19. '.0 06 B C. Sugar Pfd U 50 CaplBin Internal 3.75 11 Churdnll Copper 1.05 .37 Columbia Cell Coronalion Credil 1.10 STOCKS Creslbrook F Ind 5.00 A 45.00 .levi d 70 varden n Dynasty 7.60 I'.'5 Forl Reliance .48 85 1300 Gianl Mascot SIS Granisle 11.00 Growers B 3.00 d 30.50 Kcy ,7, 5 75 Hys 2.40 d 6600 interior Brfw dm 3325 d J J1'25 Knmlcops Cop .03 Pld 62.37'i War 10.00 i.7l ins MinM '75 Okanagan Helicon FUNDS Plains Pele .11 1 2.78 Primer .10 7. 89 B.62 Pyramid to i 8.93 9. 76 Silver Standard l.jS 353 3 Ofi Stampede Infl R .fcd F 5.57 6.42 Texmcnl .51 4.53 4.94 Trojan .-'2 1 6.22 6.83 West Mines 3 25 r 13 55 14. B9 Weslcoasl Res .06 356 3.92 Western Explora .17 5.33 5.82 Ulica .26 s, industrials Securities of Canada OR SALE Quotes) B.m. Quolos) Dom Slores 1J.75 Dom Fele 10.75 Do'asco 32 CAB 13.121-3 Fam Play 61.50 Gt Cdn Oil 515 31 00 Gen Molars 74 00 .90 Gl Lakes Pap ,16 Gulf Oil Ctia. 23. 35 Greyhound 15 00 .29 Hawker Sid 16.00 Huron, 21 12V; Hiram Walk 37.00 on 15. 12'A Imperial Oil .06Vi Imperial Tob 19 2.13 Inl Nkkel 5.P.S M Pipe 2S.50 .51 Inv Gn A 1 E3 Int Utililies 35.75 s 3.25 Indusl Accepl ID 75 reaves T.-iO Laurc-niido e.37''3 .91 Kelly Doug A 5.50 11 Loeb 3 80 Bear 5.15 Loblaw A 5.75 .11 Melro Slores IALS McMillan Bloe Ii 50 7.25 Moorp Corp 34.12Vj 20. Molsons A 13.00 Norlh, Cent 1-! Pembina Pp 31.75 7.00 Power Corp 5.12 b J600 Co 7 75 1? DO Rolhrnans 11.00 Shell CDA 35.00 13.75 Simpson's 2D.50 15.50 SKIVP Scsrs 11 00 19.50 n' Can 25.35 50 Selkirk A U.fff 6.B7Va TDnaco 31.25 5 50 Traders Rp A 13. 7S 3.45 Trans iVJn Pp 5175 26 50 Trans Can Pp 33.25 1 10 Union Gas 1525 11.25 Union Oil J5.50 13 25 Verslile Mfg f- 00 32.00 Wesleel 11 00 2 00 Union Car 16.75 S 75 Weslon's B 17.50 2fi.25 V.'ccdward's A 23.75 63.00 Wesl Cdn Sd 2T Zenilh Elet: 1.65 BANKS 20 Can Imperial 22.62V2 55.25 Montreal 16.00 23 75 Nova Scolla 36.50 13.25 1 royal 27.12'A 17.50 Tor-Dom 25.25 fe stocks n Securities of Canada rd 3J.OD 20 Golds 1PD.93 up -.12 85.62VJ 10 Base M 92.15 Off 1.07 1 75.50 15 Wesl O 225.35 up 1.30 115 tr-'z Volume 3J5S NEW YORK AVERAGES 3D indusl 850.98 up .95 El 82.37V? 20 Rails 205 dB off .07 3B 62'- 15 Ulil 114.07 Olf .67 AVERAGES fi5 Stocks 286.05 off 13 5.09 Olf .38 Volume dor PAIlfS (ReutCT) France ook strong new measures today o counter speculation on a ua ion of the French franc >y ordering all banks to refuse o buy specvjaiive United States and other "hot" money. The surprise move by the Drench central bank threw Eu-ope's foreign exchange dealers nto confusion and momentarily lushed tho dollar to a new low evel. The dollar was on the Paris rnarket and l.he Bank of France aid it is still prepared to enter he market in support of the J'ollar provided the incoming unds resulted from valid trade ransactions Gold, which has shot up in price on the free market and recent monetary uncertainty, .eapL another 30 cents today to 512.52 an ounce. Tne Bank of France said it is surprised at the "exaggerated" reaction to its order, which came as the latest in a series of measures taken here to he Inflow of foreign funds seek-ng to benefit by a possible ranc revaluation. Both President Georges Pompidou and Finance Minister Val-cry discard d'Estaing have dismissed such specu-ation as absurd and fantastic, 'the confusion began today when the French central bant sent a circular note to all commercial banks in France lo refuse speculative funds and only to buy foreign currency stemming from legitimate trade .ransactions. The measure came alter a relaxation Tuesday of France's rigorous exchange control laws. Prancs now may be sent out of Jie country more easily than for :wo years, and exporters may operate on foreign exchange markets with more freedom. In London, the French action sent all major European curren- c es soaring in Uie foreign exchange market. The pound sterling which closed Tuesday night at opened today at S2.4175 and rose to 52.1189. In Zurich, the Swiss franc price of the dollar plunged. At noon, traders quoted the dollar at 4.0070, lowest point since the Kay 10 upward revaluation the Swiss franc and .0200 below Tuesday night's closing. The currency uncertainty spilled over into the London bullion market where the prices of both gold and silver jumped in what dealers described as hec-lic conditions. The price of gold was fixed at S42.19 an ounce tefore the news arrived from Paris but heavy demand soon sent the price up lo its highest level in nearly three years. Later the price eased back to The official price is Silver jumped 1.68 cents to M.6128 an ounce. Homestd 100.00 Kam Kotla Cdn Home Pld 19.25 L Dulault Cdn Ind Gas Oil L Ont Porl Ce Ciln Long Is ,74 MGF Manage Cdn Super 41.00 Mentor Gen Del Rio Paclllc Pele Charier 6.15 Rank Org Chilian 6.50 Selk Hold Dome Pele 101.00 Shell Can Dynamic Pele 1.03 Shell Inv Pfd Gl Plains 33.25 Shell Inv WIs Lochlei 1.25 Sicks Rainier Mill City 1.62 Teledyne Jew Conl .71 Wesl Cdn See Norlh Cdn Oil 7.00 While Yukon Mumae 9.60 CALGA Dcrmo .56 Acroll 3elrol Barons Oil Pinnacle .62 Norlh Conl Place Gas 1.37 Madison Ponder M Wesl Warner Sr" Rain iS'" 6'80 tin vS! MISCELLANEOUS Inland Nat C Agra Ind 9.25 N arid C _ Alco Ind 812'A rGR J Aqualalnc and., C. B P Rnt NNri 5 75 Gal MclTO cai A <53z PI Cdn Brew B 35.50 Trans Can t Cdn Hydro Car li.OO Trans C P P Crln Pacific Inv "ans Cdn P 1075 [rDnS H Ind Tr Cygnus A 525 Western Pac Cyynus B 6.00 MUTUAL Cuni Prop 12.00 A.G.F. Spcci Gl Cdn Oil S 5.05 All Cdn Com Gt Ccfn Oil 6-75 100.00 All Cdn Divi Home A 35.35 All Cdn Venf Home B American G Home PilHH 2.15 Cdn Invest F Hud Day Co 17.75 Collecllve Mu Hud Bay Oil Common Inle Hud Bay Oil Pfd SB. 25 Common Lev Hugh Russell 19.25 Corp Invest Toronto mine Supplied by Richardson LAST BID a TI. Qunlei) a.m MINES Northgale Acme .2-1 Norlex Advocate Asb. 2.40 Opemiska AkaMcho .46 Oslsko Rlark Bay -06 Palino Bralorne l.vO Pine Point Broulan .25 Placer Dev. Belnlehsm P.C. Exp. Brunswick 5.30 Quebec Man Canada Tung. Rayrock Cassiar 22.50 Radlorc Central Pal. 2.15 Rio Algom Conwcsl 9.25 Roman Corp. Cons. Rambler 1.75 Sherritt Cord Coin Lake .16 Silver Miller Craigmont 8.75 Sleep Rock Dickenson Mines 1.15 Tek Corp. Denison Mines 24.75 Texmont Deer Horn -05 Upper Canad D'EldonH .51 Western Min Dome Mines 70.0 WrlgM Harg .09 Wlllroy Discovery Mines .82 Windfall Easl Malarlic 1-05 earnings British Columbia Forest Prod-mis Lid., six months ended June 30: 1971, 51 cents a share; 1970, 42 cents. Durns Foods Ltd., six months ended July 3: 1971, 40 cents a share; 1970, 34 cents. Canadian Pacific Investments Ltd., six months ended June 30: 1971, 31 cents a share; 1970, 40 cents. Cominco Ltd., six months ended June 30: 1971, 55 cents a share; 1970, 99 cents. MacMillan Blocdcl Ltd., six months ended June 30: 1971, 43 cents a Lethbridge Livestock (Supplied by Canada DcpartmenL of Agriculture On offer to a.m. 145 cattle. Receipts mostly replacement cattle. Trade active. Good and choice butcher steers meeting a fair demand at prices 25 or more lower. Medium grades a )out steady. Good and choice butcher heifers meeting a good demand, prices steady to strong. Medium and good cows 50 cents or more higher. Good heavy feeder steers selling at firm rales. Choice steers 31 to 31.60; good 30 to 30.75; medium 27 to 25 Choice heifers 27 to 2760; good 20 to 27. Good cows 22 to 23. Good heavy feeder steers over 300 Ibs. 30.50 to 32.40. Good feeder heifes 27 to 29. Butcher hogs sold Tuesdav Lethbridge 22.05 to 22.15 base price. Calgary livestock CALGABY (CP) On offer to 11 a.m., about head; mostly good and choice slaughter steers and heifers. Trade was active with a good local and oul-of-rpovince demand. Slaughter sleers were steady with sales to 32.60; heifers were steady; cows were fully steady. Choice slaighter steers 31.75 lo 32.30, good "30.50 to 31.50, medium 28.75 lo 30.25. Choice heifers 27.75 to 23.20, good 26.75 to 27.50, medium 26 lo 26.76. Good cows 22 to 22.70, medium 21 to 22, canners and cutters 19 to 21. Good bulls 25 to 27.40. Replacement cattle were moslly short keep yearling s eers weighing more than 750 pounds. Good feeder steers more than 750 pounds 31 to 32.50. Hogs base price 21.60. Lambs were Tueday with good kinds Supermarket continues price war TORONTO (CP) Dominion Stores Ltd. instends lo maintain "consistently lower prices than competitors" and suggests this means some smaller stores will be forced out of business. "The recent developments in supermarket merchandising have been referred lo as a price war. In a war there are winners and losers. Dominion intends lo be the winner, partly because it is the largest organization in its field in Canada, partly because of its existing reputation for quality in all aspects of its operation, but mainly because of its whole-hearted commitment to price leadership in all statement in the annual report says. "As competllion becomes more inlense, some retailers will find lhat part and perhaps all of their operations have ceased lo be profitable and to the public." The company's earnings for the year ended March 20, as previously reported, were million compared with million the previous Western Airlines Ltd., six months ended June 30: 1971, profit; 1970, loss. Texas Gulf Sulphur Co. Inc., six months ended June 30: 1971, 43 cents a share; 1970, 86 cents. Trans Mountain Oil Pipe Line Co., six months ended June 30: 95.1 cents a share; 1970, 84.7 prices EDMONTON (CP) Aver age prices to 11 a.m. provided DV the Alberta Hog Producers Marketing Board: Edmonlon 21.00. Average Tuesday 21.94. Red Deer: 21.81. Average Tuesday 22.12 Calgary: 21 .60. Average Tuesday 22.20. Lethbridge: Nil. Average Tuesday 22.07. LloydminslcT: Nil. Average Tuesday 21.44. Total hogs sold 850. Tuesdaj 12.995. Average 21.99. Sows average Tuesday Motors Appointment MR. A. V. (Al) DORGE Mr. T. G. Mortin, and General Manager is pleased to announce the appointment of Al Dorge as Servica Manager. In his new posilion Al will be responsible for all OB-pecls of the new-approach-to- 91.00 INDUSTR Frobex .24 Abllibi Firsl Marillmes 1-05 Alcan Gianl Y K 9-00 A'goma Stee Bovis 1.90 A1CO Ind Granduc 6.00 Allan Sugar Headway R.L. B.75 Bell Tel Hollincer 34.00 Brazil Trac Hudson Bay M-S 7? SO B.C. Tel Hydra Ex. -24 Burns Iron Bay 3.10 B.C. Forest Iso 1.53 B.C. Sugar Joliel Quebec .29Vb CAE Ind Kerr Addison 8 40 Cdn Drew Key Anacon .32 Cncmccll Laliradcr Col Cellulose Loke Shore Cal Power Langis Slver .11 Coron Cred I Madsen R.L .80 C.W.N. Gas Marisen R L. -BO Cdn Indus! Madsen R.L. .60 Canda S S Malarlic G.F. -65 Cdn Marcon Marlin McNeely 6.00 Cdn Vltkers Maclnlyre 95.25 Chrysler Mela -12 CPR Miclrim .21 Cominco Inlorn Mogul 10-50 Cons Balh New Wesl Homes 9.00 Cons Gas Now Alhona -15 Dist Sea New Calumet -IWi Dom Bridge New Imperial .77 Domtar Noranda 34.00 Dom Textile New Yor Supplied by Richardso Amr T and T 43.75 Monlgom Wa Anaconda IB. 00 Sears Beth Slee) 22.00 Sid 0 of N. Chrysler 25.75 Texas Gull Comsat Texas Co. Dupon! 145.25 Wix orp Gen Motors 76.15 Woolworlh Guif 3G.OO yflff Int Harvest TORONTO Kenn opper 32 00 20 Indusl prices Winnipeg Grain WINNIPEG (CP) All commodities were on easier price patterns at mid-session on the Winnipeg Grain Exchange today. Rapeseed was off as much as cents while other commodities were fractionally lower Tuesday's volume of trade was bushels of flax, of rapeseed, of rye. MID-SESSION Flax: ct. lower Nov. Vz lower 2.40; Dec. IVi lower May 1% lower Eapeseed Vancouver: Sep. 4% lower Nov. lower Jan. 2 lower 2.84B; March IV, lower Eapeseed Thunder Bay: Oct. 3% lower 2.86V4; Dec lower May 2 lower Oats: Oct. 3j lower Dec. VT. lower 71'AA; May ?i lower 73. Barley: Oct. lower Dec. 1 lower 1.07; May lower 1.07VzA. Rye: Oct. lower Dec. lower May lower High Low Close ..Flax Oct 241 '4 239V2 2395's Nbv 2391s 239Vz Dec 2.TO 236'.'2 May 248 W6'i 2461i Rapcsecd Vancouver Sep 3U''k 3fl25i 304 Nov Ml 2887s 2887s Jan 285 283-ni Mar 279 27611 Rapcsecd Thunder Bay Oct 289'4 284% Dec 274 274 May 281 279'A 279li Oats Oct 71 Vi fi8 68' i Dec 70 ffl'i M5s May 7.1 70'.'i 1 Rarlrv Oci iio ion loan Doc 108' i J06'z 106 May 1074 IOC's rtye Oct Mil, Bl'i Dec 96'i S.T4 93' 2 May 103 99' 90 By THE CANADIAN PRESS Reunion's (Canada) Lid. common and class A, 12! cents, Aug. 1, record July 15. Atlantic Sugar Refineries Co Lid., 10 cents; class A, 30 cents both payable Oct. 1, rccorc Sept. 17. Five per cent pfd 51.25, Sept. 15, record Sept. 1. Canada Steamship Lines Ltd 50 cents, Oct. 15. record Sep 17. Distiller? Corp.-Scagram Ltd., 30 cents, Sept. 15, record Aug. 23. General Motors Corp. Ltd.. 85 cents (U S.I, Sept. 10, record Aug. 12. International -Nickel Co. of Canada Ltd., 25 cents Sept. 20, record Aug. Potato futures WINNIPEG (CP) Maritime potato futures Monday: Open High Low Close Nov 2.25A War 2.65A Apr 2.70A May By Gene hoi reveals n By JAMES NELSON OTTAWA (CP) Canadian chartered bank holdings of fed eral government bonds have in creased by more tban 50 per cent in the last 15 months, witl a rapid climb last fall and .his spring. The increase is from some thing under ?3 billion in Marcl last year, lo almost billioi a month ago. In Ihe last month the amount has fallen off lo S4.5 billion and some sources think i may br in a downward trend. 13ul Iho size of tho brinks' n vostmcnl in pnvornmcnt bom s is unusually large, raising qucs Lions as lo how tbc government ir, in dcbi lo of larked im required reserves are taken out of the banks' assets, the amount of liquid Canadian funds left over for bank investment is somewhat less now than it was Ihree years down to about 16 per cent from almost 20 per cent of their total :.ssets. In (.be last 12 months, the lolal amount of federal government securities outstanding-bonds, treasury bills and Canada Savings lias risen by billion to almost billion. More than billion of this is in Canada Savings Bonds, which only individuals nnd certain associations can not I banks. The general public's holdings of other government bonds has declined by about million. And the banks' holdings of government bonds have risen by about billion. SAVINGS UP TlK 10 chartered banks now have maior assets bulling billion, and of this about billion are counted as liquid assets. Tlic billion held in pov-eminent principally government bonds other than treasury is alxnit 45 per cent of lolal bank liquid assets. This is up from nbmil. 40 per conl. one year ago. IVrson.nl savings deposits in Iho cbnrlcrcd banks on July 21 lolalled billion, up 10 per cent from a year earlier, crease maud deposits mosLly business lotallcd billion, up about 16 per cent. And other deposits, principally business long term deposits, lolalled billion, up about 32 per cent. The 10 chartered banks a -e Uic Bank of British Columbia, Bank of Montreal, Hie Bank of Nova Scotia, Bsnquc Cann-dienne Nationale, Banque Popu-laire. Canadian Imperial Bank of Commerce, Ihe Mercanli o Bank of Canada, tho Provincial Dank of Canada, Ihe Royal Bank of Canada, nnd Ihe Toronto-Dominion A DUMBBEtLTHAT'S SMART! THE GYROSCOPE INSIDE, WHEN TURNED UPTO 1QOOORFM5 BTTVIE PORTABLE ELECTRIC DRIVE UNIT, HAS A HIGH QUOTIENT) WHICH MAKES A WORKOUT WITH THE 7-POJND WEIGHT FEEL AS THOUGH ITWEISHS 35 FOUNDS... 7WOHWQSJWJ5 SAW TORSO f J i In Wld. J411. Jn-.. Sln.l W.. Mo-tnol ar Uniled Motors Co. lid. Al brings to his new poiition a valuable background, having operated his own businesi and deposits indicated VANCOUVER (CP) Bra lome Can-Fer Resources Ltd announced today preliminary feasibility reports indicate coa deposits in the Savanna Cree area, in southeastern Alberta can be economically mined am the company plans to continu development of the area. The deposit is owned by til Can-Fer Syndicate, of whic Bralorne holds a 62.5 per een nterest. The two other partic pants are Pacific Petroleum Ltd. and Bralorne Oil and Ga Ltd. The syndicate lias budgeted for exploration and development this year and will have spcnl by the end of the futures WINNIPEG (CP) Live beef futures Monday: Open High T.nw Close 'Sep 32.55 32.00 32.55 32.60 32.5CN Jan large dealership. He is married, has 4 children and is a member of fho Norbridge Lions Club. HEARING LETHBRID Thurs., Aug. 5th 1C Hearing A by MR. H. W. MATH CERTIFIED HEARING AID A CeniuriP! ogo the Phoenicians utod ica shclli os hearing aids. They did not i require iho use of batlcries. Todny yean CENTRE GE STORE a.m. to p.m. ifi. ft- V-as ESON UDIOLOGIST i-' _JJ jijpgBV "TISj EATON'S HEARING AID CENTRE Lothbridge AUGUST 5th 10 a.m. -5 p.m-Mombor of Nalional Hcnrmn Aid Society Member of Albcrla Hearing Aid Dealers' Association dip EDMONTON' (CD 60% ON MUFFLER REPLACEMENTS WE HAVE: A MUFFLER FOR MOST CARS FREE INSTALLATION 10 MINUTE INSTALLATION LIFETIME GUARANTEED MUFFLERS FREE INSPECTION AND ESTIMATES ALL AT i jvTii-ir.i-509 6th Avenue South Phone 328-8134 sw ii. in Hint light. The banks nre required by law lo keep cash and very liq nid asscLs such :is day-lo-( loans and treasury whicl can be converted to cash quick as a rcsorve against their deposit The Bank Act insisl.s that Hie brinks keep cas at hand to pay out any reasonable amount of money that lias been doposilcd tho banks bv Ihc public. IIOI.DlNCiS VI1 Money in of Ilicsi1 re serves is invested by the churl crcd banks to make money, in povennncnl and non-govern menl Iwmls mid in spnirilirs mortgages, and kinds o. loans. Actually, aflcr Uio cash stop SYDNEY, Australia (Roller) Trains in four of Australia's six stales stopped at midnight Tuesday night when rail workers began an Indefinite strike. Two mil unions cnlled the halt in New S'oulh Wales, Victoria, Soiilh Australia and Western Australia over pny claims of up lo on their weekly wages ot up lo Pl.ifield Fowls Ltd., today reported net income of or 26.11 cents a share for Hie year ended April 3. compared mill WflB.WI or 27.1 cents a share in Iho previous year. Hie company .sid in its annual rcporl it considered Ihe resulU "after allowing for extreme competitive condiUons and llw cost of opening new corporati' stores." Sales tolalled STri.n million, npainst. ?70.5 million in Ilio previous year. Cash flow increased by per ''enl lo and capital rose by lo jitualion. Our new hearing nids do not require baltcrics cither. Wliy nol come In to sco TO POSITION The horse can sleep cither standing up or lying hearing. Manufactured by Unilron of ;