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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 12, 1970, Lethbridge, Alberta August 12, 1970 THE LETHBRIDGE HERALD 29 Toronto Market Slump Continues TORONTO (CP) Prices were fractionally lower in light mid-morning trading today as the Toronto stock market ap- peared headed into its third con- secutive losing session. On index, industrials were down .13 to 155.76, golds .OB to 154.10, base metals .04 to 93.47 and western oils .06 to 156.48. Volume by 11 a.m. was shares, compared with at the same time Tuesday. Losses edged gains 82 to 74 with 136 issues unchanged. Largest declines were in the beverage and chemical sectors. CPR was down to Seagrams to 45, Guaranty Barges Trapped In Ice P R U D H 0 E BAY, Alaska (AP) Shifting ice continues to hamper a fleet of tugs and barges headed for the North Slope oil fields with equipment and pipe destined to carry oil from the fields to the ice-free port of Valdez. A Houston, Tex. man, Joseph Normal, died Monday night when the barge on which he was riding sank after being struck by shifting ice. An An- chorage funeral home said Nor- mal was employed by the Jack- son Marine Corp. A spokesman for _ the coast guard in Juneau said Normal apparently was aboard the barge when it sank after being struck by ice. The barge was part of a fleet of about 60 tugs and barges trying to slip through a narrow opening in the ice off Point Bar- row. Some became trapped when the wind shifted during the weekend, packing ice up to 10 feet thick. The ice was re- ported stretching from Point Barrow and Cape Simpson to the east. The coast guard cutter Storis was assisting several trapped barges Tuesday and others were waiting in Barrow for better ice conditions. TWO DRAININGS Alaska's Summit Lake drains simultaneously into the Bering Sea to the west and the Pacific Ocean to the south, on either side of the Continental Divide. Trust to Noranda to 27% Massey-Ferguson 'A to 9 and Lake Dufalt to 16. Texaco was up to Aquitaine Vt to Advocate Mines 25 cents to and Western Decalta 10 cents to VOLUME LIGHT MONTREAL (CP) Prices moved fractionally higher on the Montreal stock market today after two days of sharp declines. Volume was light. Gulf Oil slipped to 15% after reporting a first-half dec- line in net earnings of mil- lion or 37 cents a share from million or 50 cents. Consol- idated-Battmrst was off Va to Texaco Canada was up 1% to 23K, Falconbridge Nickel 1 to 136, Pacific Petroleum to 25ys, Inco to Hudson's Bay Mining and Smelting to 21, Moore Corp. Va to 29Vs, Hud- son's Bay Co. Vs to 14 and Chemcell 10 to 4.60. Distillers-Seagrams was off to 45, CPR to Bombard- ier LW.-% to Shell Canada to Cominco Vt to 21, Rapid Data 20 to 3.00 and IOS Ltd. 10 to 1.75. On index, papers rose .40 to 84.19, industrials 1.18 to 158.48 and the composite .08 to 154.08. Utilities were off .25 to 128.59 and banks were unchanged at 167.10. A total of shares changed hands by 11 a.m. SITS TIGHT NEW YORK (AP) The stock market sat tight today. Prices fluctuated narrowly, and trading was light. At noon the Dow Jones aver- age of 30 industrial stocks had slipped a mere 1.09 points to 711.46. Declines barely inched beyond advances on the New York Stock Exchange. Metals, utilities and rubber is- sues were off. All other stock categories were mixed. At noon the Associated Press 60-stock average was up 0.1 at 236.6. Big board prices included General American Trans., off 1% at 32; IBM, off 3% at Xerox, off at General Motors, up at Chrysler, off at and Texaco, up at Mclntyre Porcupine dropped among Canadians on the NYSE while Distillers Seagram was off and Dome Mines Inco picked up Vi, as did Granby Mining, while Alcan rose Vi and Canadian Pacific On the American Exchange, Brascan, Canadian Javelin and Preston all added Vs. BATA SHOE STORE FOR RENT GOOD LOCATION ON 5th STREET SOUTH Suitable for jhoe itora or ladies wear store APPLY: Stan's Men's Wear 321 5th St. S. Grain Price Review Winnipeg Grain Prices WINNIPEG (CP) Fin and rapesced m a i n t a I n e strong price levels at the clos of the Winnipeg Grain Ex change today despite slacken ing activity. Rye fell off from barley ac vances to prices near previou close levels. Tuesday's export loadings e Canadian wheat included 591 000 bushels to Germany, 758 000 to India, to Japan to the Volume of trade Tuesda; Russia Seeks Data VANCOUVER (CP) Fish eries Minister Jack Davis say the Soviet Union has asked fo more information about colli sions between its fishing traw lers and British Columbia trawl ers. "A reply to our protest abou these collisions came through the external affairs depart Mr. Davis said Tuesday in an interview. "The Russians asked specifii questions about the incidents and they wanted a meeting." He said the response is the first indication the Soviet Union has given that it realizes colli sions have occurred. The minister and External Af fairs Minister Mitchell Sharp protested about the fishing tac tics used by the Russians in in ternational waters off the wes coast of Vancouver Island after a 41-foot Port Alberni trawler was sideswiped twice by a huge Soviet vessel. Five similar inci dents during the last 12 months were also cited. The Soviet government ha< already asked for talks to dis cuss Canada's policy of closing West Coast ports to Russian vessels. The fisheries department also wants a meeting on the Sovie practice of scooping up large numbers of herring, stocks are depleting. although Canada Japan and the "United States do not take herring under a treaty aimed at conserving the spec Canadian Firms Pay Dividends At Record Clip TORONTO (CP) Canadian companies are paying divi dends this year at a rec rate. Figures compiled by Bon gard, Leslie and Co., Toronto investment dealers, show a to- tal payout for the first eigh months of million. That is eight per cent above last year's record million By groups, the eight-months totals include: million for industrials, million for mines, million for utilities and millions for institu- tions, trusts, etc. Potato Futures WINNIPEG (CP) Limited buying interest entered the Maritime potato futures market Tuesday at prices generally even with previous close levels, but there were no transactions. Open High Low Close Nov 2.20B Mar 2.55N Apr 2.68N May 3.02B FOR PROFESSIONAL VISUAL ADVICE CONSULT YOUR OPTOMETRIST FIRST Optometrists are constantly investigating the qualities of new optical products. v Their professional training and post-graduate education ful- ly qualifies them to properly evaluate any new developments. Recent advertising by commercial optical firms have mads me public increasingly aware of new lens developments such as: Typt of Leni Trade Names Light-Sensitive Photogray, Varigray Multilux, Varilux Progressor All Sunglasses Gradient Focus Bifocals (Invisible) Tinted Lenses Contact Lenses All Types While Optometrists have full access to any of these pro- ducts, none of them are universally acceptable or recommended for all people. Let YOUR Optometrist advise you If any are tultable for your particular visual problem. BE SURE TO CONSULT YOUR OPTOMETRIST FIRST ALBERTA OPTOMETRIC ASSOCIATION was bushels of flax, 000 of rapeseed, of rye. Prices for Class Two wheat for export to countries outside JGA: 1 Nor 1.72; 2 1.C9; 3 l.GWz; 4 1 Durum 2 3 1.53H; IGA prices: 1 Nor 1.72; 2 1.69; 3 1.60V4; 4 l Durum 2 1.53V4. High Low Close Flax 271 272 265 263 264% 261% 260 261% 271% 267 270 Oct Nov Dec May Rapcsccd Nov Jan Mar May Oats Oct Dec May Barley Oct Dec May liye Oct Dec May Auto Insurance Legislature Moves Toward Showdown 252% 251% 251% 249% 248% 247 247% 247% 246 246 114 116% 102V2 103% 108% ------------77Vi ---------78% 113% 114 116% 116% lOlVz 102% 102V2 103% 107 103% Hog Prices EDMONTON (CP) Prices to 11 a.m. supplied by the Al- berta Hog Producers Market- ing Board: Edmonton: Quoted 26.50 to 26.55, selling 26.50. Average Tuesday 28.81. Red Deer: Quoted 26.55, sell- ing 26.55. Average Tuesday 26.98. Calgary: Quoted 26.60, sell- ing 26.60. Average Tuesday 26.90. Lloydminster: No sales. Av- erage Tuesday 27.10. Lethbridge: No sales. Aver- age Tuesday 26.50. Total hojs sold to 11 a.m., 366. Total hogs sold Tuesday Average 26.83. Sows at all points 16.99. WINNIPEG (CP) The Man itoba legislature moved towar a final slowdown on the goveri m e n t's automobile insuranc bill Tuesday despite a series delays and procedural debate which slowed progress. On adjourning shortly after midnight, the house had com pleted clause-by-clause study o nearly half the 29-page bil which proposes a basic compul sory state-run auto insuranc plan for Manitoba motorists. The longest procedural debat for Premier Ed Schreyer's mi nority New Democratic Part government came on amenc ments introduced by the Con servatiyes which would have de- layed initiation of a compulsory plan until a committee of in quiry had reported to the house The amendments, coming in committee of the whole, wer never debated since they wer ruled out of order after a procedural wrangle. The Conservatives challengec the committee chairman's rii ing but he was upheld by a vote of 29 to 27, with Speaker Ben Hanuschak resuming the chair and the government maintain Dollar Value MONTREAL dol lar in terms of Canadian funds off 1-32 to 17-32. Pound sterling off 1-16 to NEW YORK dollar up 3-64 at 97 17-32 in terms of U.S. funds. Pound ster ling up 1-64 at 61-64. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quoies) a.m. Quoics) WESTERN OILS Inter Steal 4.90 Jeff Lake Asamers Il.oo Joutel Banff R P., Oil Can South Cdn Exp Gas Cdn Grldoll Cdn Home Cdn Ind Gas Cdn Super Cent Del Rio Charter Chief tan Dome Pete Dynam Pete French Pete Gt Plains Mill City New- Cent Numac Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner West Decal MISCELLANEOUS INDUSTRIALS Atco Indus Aquataine Brit Nfld Cp Cdn Hyd Car Cdn Pac Inv CPR Pfd Crows Nest Ind Cygnui A Cygnus B Gt Cdn Oil Gt Gdn 01! Sd Home Oil A Home Oil B Home and Pit Hud Bay Co Hud Bay Oil Hud Bay OH Hugh Rus Pfd Husky oil Husky Oil War Int Pro Pipe 13.75 10 Kaiser Res 4'.05 Kam Kotia 3.65 Lake Ont Pr Mentor Pac Pete..... Rank Organ Shell Inv..... Shell Inv Wfs Sicks Rainier West Cdn Sd White and Yuk CALGARY Acroll........ Anac Pete Barons Oil North Cont Plains Pete West Warner Madison Qutnalta Rexdale.......T PIPELINE STOCKS Alta Gas Tr L A 44.00 Alia Gas T L Pfd 69.00 Alta Gas (Nat) 19.50 Inland Nat Gas N and C 4.50 720 9.55 30.25 9.90 4.25 7.05 53.75 1.71 5.95 23.00 1 95 136 6.15 1.08 1.53 .76 1.07 16.50 1.25 5.50 6.25 Invest Gr 9.5010.4 '937W Invest Mutual 4.65 5.09 IOS Vent 3.03 3.3 12.25 Mutual Ac F 4.28 4.7 1.85 Mutual Gr F 3.56 3.9 1.80 Mutual In 4.21 .50 Nat Res 6.4 7.0 N W Fin 3.29 3.6 25.25 H W Gr 3.62 4.2 12.62'A Principal Gr 3.36 3.6 57.50 Regent Fund 7.22 7.8 11.25 Royfund 4.60 3.S7V3 United Ac 4.04 Universal Sav 6.16 6.7 VANCOUVER Anuk .97 Arctic Mining .07 Atlas Explor .06 Beth Copper 02V3 Bornlte Ridgo Block Bros Brenda B.C. Sugar Capt Inter Churchill Cooper Crestbrook F Croyden Dolly Varden ___ Dynasty 9.62'A Endako 12.50 Fort Reliance .31 .17 .05 .21 .25 1.10 15.00 .23V 2.85 10.25 15.25 2.60 2.51 Ind 5.75 .27 .42 7.00 12.37V .67 2.68 13.50 N and C B Pfd 26.75 Giant Mascot 10.25 Tr Cdn Pipe 29.00 Granisle Tr Cdn P Pfd 37.50 Key Indust......30 4.20 Tr Cdn P Pfd A 55.12'A Hy's 3.00 1375 Tr Cdn P War B.BO Interior Brew 4.00 21.75 Westcoast Tr 19.25 Jericho .......08 Western Pacific. 4.35 Kamloops Copper .10 4fOO MUTUAL FUNDS Lornex 7.50 495 AGF Special 1.99 LyftOil' Mtnarili 2.77 All Cdn Com 6.03 6.59 Madrona.......32 3.75 All Cdn DIvId 7.03 New Cronln.....07V 10000 All Cdn Vent 3.06 3.34 New Imp Mines 1.77 1700 Amr Gr-pund 4.04 4.45 Primer.........16 Cdn Invest F 3.97 4.36 Pyramid.......22V 2.20 Col Mutual 4.78 5.24 Silver Stand 1.53 14.00 Cmnw Inter 10.7511-78 T C Explor .46 Cmnw Lev 2.61 2.B6 Texmont.....47 51.00 Corp Invest 4.69 5.12 .........64 20.00 Corp In St F 4.31 4.71 Western Mines 4.10 1000 Dreyfus F U.S. 9.6810.61 Westcoast Res .20 410 Gr Equity 5.43 5.96 Western Explor .21 9.75 Gr In Shares 2.72 2.98 Utica .......86 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) B.m. Quotti) INDUSTRIALS Abltibi Alcan Algoma Steel Atco tnd N B HeTel Brazil Trac EC Tel Burns B C Forest B C Sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bath Cons Gas Dist Sea Dom Bridge Domfar Dom. Textile Dom Stoies Dome Pete Piay Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk imperial oil Imperial Tob Int Nickel Int Inv Gp A Int Utilities Indus' Accept Laurentide Kelly Dcug A Loeb Loblaw A Metro Stores Massey Ferg McMillan Bloe AAoore Corp Molsons A Molsons B North, Cent Pembina Pp Power Corp 12.50 Price Co 10.00 Rothmans 41.50 st Law Corp 13.00 Shell CDA 59.00 Simpson's 8.00 Simp Sears 23.62'A Steel of can 15.15W Selkirk A 3.95 Texaco..... 7 Traders Gp a 450 Trans Mtn Pp 5.12V3 Trans Can Pp 22.25 Union Gas 1.05 Union Oil 9.50 Versatile Mfg Wesfeel 22.00 Union Car 3.25 Western's B 5.25 Woodward's A 19 50 West Cdn Sd 56.75 Zenith Elec BANKS Can imperial 16.00 Montreal 45 37'A Nova Scotia Royal....... T.r-Domw.N6s 12.25 Acme...... 54.00 Advocate Asb. 8.50 Akaltcho 41.50 Area Mines 3.75 Belcher Iron 66.50 Bralorne..... 17.50 Broulan ,5 BelhlBhem }.7S Brunswick ,4.75 Canada Tung. 40.37W Cassiar Cenlral Pat. ,3.50 Chlmo....... .10 62W Conwest 22.00 Cons. Rambler 6.50 Coin Lake 24.75 Cochenour 13.12'A Craigmont 3.75 DicXenson Mine 5.50 Denlson Mines Deor Horn 5.75 D'EIdona..... 17.50 Dome Mines 9.00 Donalda 24 00 Discovery Mine 29.00 East Malarllc 13.50 East Sulflvan 13.50 Falconbridge Frobex....... 19.50 First Maritlmes 600 Giant Y.K..... Gortdrum Gunnar 19.00 Granduc 27.75 Headway R.L. M.50 Holllnger..... 20.00 Hud. Bay M-S 22.3714 Hydra Ex...... 10.00 Highland Bell 23.50 Iron Bay..... 16'50 JolieV Quebec" 28.75 Kerr Addison 13.50 Key Anncon 30.00 Labrador 2.55 Lake Shore 9.50 Leitch 11 Langis Silver 21.75 Macassa 15.37Vi Madsen R.L. 2.20 Malarlic G.F. 1.50 Martin McNeely Maybrun..... ,9.25 Maclntyre 14.75 Mela....... 18.00 Midrim ZU7I4 Inlern Mogul New Athona New Calumet New Imperial Noranda Nortnqots Opemiska Osisko....... Palino....... Pine Point Placer Oev. P C Exp Quebec Man Rayrock Radlore Rio Algom Roman Cnrp. Silverfields Sherrilt Gordon Silver Miller Steep Rock Siscoc....... TeK Corp..... Texmont Upper Canada Western Mines Wright Har. Willroy Windfall Yellowknlft Br. Zenmac 17.75 1.90 .45 1.75 M 15.00 2.00 20.25 1.23 10.00 10.75 1.65 25.00 .OS 1.30 57.00 .30 1.30 1.00 5.55 135.50 1.05 7.20 3.40 1.48 6.50 31.00 20.75 .30 2.80 2.90 2.15 .25 10.75 .38 38.00 3.15 1.64 15J.OO .17 .28 ,0.25 !25 ,.75 27.75 36.00 33.00 31.00 .7? 1.25 .31 18.12'A 6.30 2.65 .08 7.15 1.87 i.OO .17 1.67 4.10 1.50 1.J2 .llVi 4.S5 .12 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T ind T Montgomery Ward 22.IJV2 20 Golds olf .68 Anaconda 23.75 Sears 10 Base Met 93.36 of .07 Bttl Steel Sid Oil 01 N.J. 15 W Oils 15S.9S up .53 Chrysler 19.37W Texas Gull Volume Comiat 37.00 Co 29.25 NEW YORK AVHACi! Dupont 116.75 Wolworlh 31.25 30 Indust 712.21 oil .34 General Motors WestinQriousa Elec iu.25 20 Rails 128.63 up .60 Gulf 26.50 U.S. Sicel 15 Utilities 103.31 up .13 nt Harvester 22.25 TOIONTO AVERAGES (5 Stocks 2U.5I up .31 :tnn Copper m.sn'i 20 Indust up .13 volume (Chureliill) and Liberal Demo- crat Larry Desjardins (St. Bom- face) have supported the gov- ernment on a total of 13 rec- orded votes since clause-by- clause study of the bill began Monday. Standing in the 57-member legislature is NDP 28, including Mr. Hanuschak, Conservatives 22, Liberals four and one Social Credit, in addition to Mr. Beard and Mr. Desjardins. Without the support one or the other of the independents the government is mmtumbered by the combined opposition in committee of the wnole, with the Speaker out of the chamber and a government member act- ing as chairman. Both independents say they are not in favor of the bill as it stands, but will keep it alive during committee study in hopes there will be changes. Mr. Beard has indicaetd he will make his decision on third reading while Mr. Desjafdins, who sat as a member of the NDP caucus during its first 13 months in office but bolted on the insurance issue, says he will make his move after the clause-by-clause study is fin- ished. Air Route Transfer Proposed WASHINGTON (CP) A United States Civil Aeronautics Board examiner has recom- mended approval of a planned transfer to Pacific Western Air- lines Ltd. of an Air Canada route between Victoria, B.C. and Seattle, Wash. The transfer, already ap- proved1 by Canadian air au- thorities, is part of Air Can- ada's plan to divest itself from regional routes. The recommendation will be considered by the board, and President Nixon will make the final decision. No American air carrier protested the transfer between the two Canadian car- riers. Air Canada, which has oper- ated the 110-mile route for about 24 years as one of nine routes under its foreign air car- rier permit, filed an application with the Canadian Transport Commission in March this year to suspend service. THE ALBERTA GAS TRUNK LINE COMPANY LIMITED James C. Mahaffy, Q.C. S. Robert Blair The Directors of The Albsria Gas Trunk Line Company Limited announce Ihe retirement of J.C. Mahaffy, Q.C.. effective August 31st. Mr. Mahaffy has been associated with the Company Hs inception in 1954 when he became its legal counsel. In 1957 he was appointed General Manager and Chief Executive Officer, in 1966 President and Chief Executive Officer. Mr. Mahaffy will be succeeded as President end Chief Exec- utive Officer by 5. Robert Blair who joined Ihe Company in Dec- ember of last year as Executive Vice-President. Prior to that Mr. Blair was President of a major gas company and has had broad experience in this field. LIVESTOCK Lethbridga livestock prices no more than at the week's lower (Supplied by Canada Department of Agriculture) On offer to a.m. 200 cattle. Receipts mostly slaughter cattle. Trade moderately ac- ive. Good and choice butcher steers meeting indifferent de- mand, steady levels. No butcher heifers sold early. Medium and good cows meeting very good demand at iirm prices with odd heifery dnds to 21.40. Bulls weak to 50 cents lower. Medium and jood heavy feeder steers sell- jig about steady.. Choice steers 28 to 28.50; good 27.50 to 28; medium 25.50 ,o 27. Good cows 20.25 to 21.10; me- dium 19 to 20; canners and cutters 15 to 18. Good bulls 28 to 26.90. Good heavy feeder steers over BOO Ibs. 28 to 29; medium 26 to 27.50. Butcher hogs sold Tuesday f.o.b. Lethbridge 26.90 to 27.75 base price. 150 hogs sold for export price converted 22.10 to 22.30. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about head; mostly slaughter steers and leifers of mixed quality. Trade was slow. Slaughter steers and heifers were 25 to 50 cents lower; cows were steady and bulls were lower. Choice slaughter steers 28.25 to 29, good 27.25 to 28, medium 26 to 27. Choice heifers 25.50 to 26.30, good 24.75 to 25.25, medi- um 24 to 24.50. Good cows 20 to 20.60, medium 19 to 19.75, canners and cutters 17 to 19. Good bulls 25 to 26.60. Replacement cattle were mostly heavy steers selling lower. Good feeder steers more than 750 pounds 27.50 to 29.40. Good feeder heifers more than 650 pounds 26 to 26.50. No stock or slaughter calves offered. Hogs base price 26.60. Lambs sold higher Tuesday with good kinds 23.50 to 24.20. Beef Futures WINNIPEG (CP) Light activity centered in the Septem- ber future on the Winnipeg beef futures market Tuesday where prices were 10 to 22 points be- low previous close levels. Open High Low Close Sep 29.10-.12 29.12 29.00 29.00 Nov 28.73N Jan 23.80N ing support of two independents. Independent Gordon Beard PRIVATE SALE BUNGALOW HOME NORTH SIDE 800 sq ft. 2 bedroom, wall-to-wall carpet. MUST be sold to settle estate. Priced very agents. PHONE 327-3039 for appointment! FOR TORQ' WHIRLWIND LAWN MOWERS another record breaking year for Toro af Hoyt't and there are only a few 1970 faro Models left so don't be disappointed Trade in your problem oh a hew Toro now and save! SAVE 2 Only! 1969 Models Model 23100 heavy duty, 4 h.p., self propelled Whirlwind Lawn Mowers. .95 Regular List 199.95. EXTRA SPECIAL 136.95 184.95 199.95 114.95 1 Onlyl POWER HANDLE UNIT 110 OC 3'A h.p., recoil start.................... 'I 1 Onlyl Reel unit for above power handle, 100 OC 21-inch power drive l Convenient Terms Available! i OPEN Till 9 P.M. THURSDAY AND FRIDAY NIGHTS 9 Onlyl Model 18215 WHIRLWIND 3 h.p.r recoil start....... 6 Onlyl Model 18216 WHIRLWIND 19-inch, 3 h.p., key electric start 1 Onlyl Model 19251 WHIRLWIND Si-inch, 3Vi h.p., key electric start 1 Only. Model 18001 WHIRLWIND 19-inch, 3 h.p., 2 cycle........... 1 Onlyl Model 10303 SPORT LAWN 21-inch reel (6 YOU ALWAYS DO BETTER AT Downtown 606, 608 3rd Avenue South Phone 327-5767 ;