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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 17, 1971, Lethbridge, Alberta Market prices sharply lower TORONTO (CP) Prices dropped sharply lower in mod' erate mid-morning trading on the Toronto slock market today. On index, industrials were down 1.07 to 17-J.75, golds .38 to 183.00 and base metals .01 to 88.82. Western oils were up .08 to 237.17. Vol j m e by 11 a.m. was shares, compared with at the same time Mon- day. Declines held a wide margin 0 er advances 32-1 to 7'l, with 182 issues unchanged. Weakest sectors were beverages, in dustrial mining, oil refining and food processing. General Distributors dropped to Leigh to Imperial Oil lk to ?2lHi, Pan Ocean W to Alcan lo and Walker-Gooderham 14 to Canadian Homestead was down to Inco VI to Numac !i to and Rank Vi to Vi. Ford of Canada was up 3 lo Superlest ordinary to Chrysler "A to Cen- tral-Del Rio to 516 and Asa- mera Vt to Bank of Nova Scotia rose '.'o lo ?267i, Mclntyre Vk to Crown Trust to and Brinco to LIGHT TRADE MONTREAL (CP) Prices were down in all sectors in light morning trading on the Mont- real stock market today. Combined volume on (he Montreal and Canadian Stock Exchanges at 11 a.m. was shares, compared with at the same Ume Mon- day. On index, the composite fell 1 43 to 178.76, industrials 1.98 to 181.40, utilities .07 to 151.73, banks .28 to 20.37 and papers .24 lo 79.62. Highlighting declines, Hollin- ger was down to 53714, Alean V, lo Slffik, Dislillers-Sea- grams, Imperial Oil and Inter- national Utilities each to and respec- tively. Among gains, Asbestos Corp. rose Vz to Central Del Rio to and Shell Canada Vi to By Gene Fawcelle FWDIO-CONTROLLED DOSS ARE BEING TRAINED FOR GUARD DUTY. IN A NEW BRITISH RRC6RAM, A DOG WEARS A SMALL TRAKBSTCR SHORT-WAVE RADIO AND SPEAKER CN ITS BACK OVER WHICH A CONTROLLER CAM COMMAND THE ANIMAL FROM AS FAR AWAY AS 5 MILES... ...AX-HAY SYSTEM MAY MBtf HVffff SOUNDS JKf ALSO TMHSMITTEP FKOM fOtlHftlHJTHIVf-ANDPOLICC! APPOINTMENT DJA UP NEW YORK (AP) Opening of trade in General Motors on the New York Stock Exchange spurred Ihe Dow Jones in- dustrial average forward today. Trading was active. The noon Dow Jones average of 30 industrial stocks was up 4.67 lo 093.62. Canadian stocks were off across the board, with Walker Gooderham losing 1% to Inco off 1% at, Mclnlyre Porcupine off at and Canadian Pacific off Vt at On the American Slock Ex- change, Scurry Rainbow lost to and Canadian Javelin 14 lo Grain prices Winnipeg Grain WINNIPEG (CP) Rape- seed had moderate exporter buying with prices unchanged lo slightly lower at mid-session on the Winnipeg Grain Ex- change today. All other grains were lower in a lighter volume of Irade. Monday's Irading volume was bushels of flax, of rapeseed and of rye. Mid-session prices: Flax: Oct. Hi lower Nov. IVi lower Dec. lower May low- er Rapeseed Vancouver: Sep. PS lower 3.06B; Nov. low- er 2.94% A; Jan. 114 lower 2.88HA; March IVz lower Z.83UA. Thunder Bay: Oct. Vk lower 2.8154A; Dec. V, high- er May higher Oats: Oct. 14 higher 6S14Ai Ded. unchanged May un- changed 7IA. Barley: Oct. unchanged 1.09VSA; Dec. unchanged May 3.4 lower 1.07. Rye: Oct. Vt lower l.OOB; Dec. lower 98; May lower High Low Close ..Flax Oct 239-yB Nov 24014 Dec May 246% Rapeseed Sep Nov 301 Jan 295 Mar 28BH 236% 245V4 304 Vi 292 Va 287 282% 23914 23914 23714 Rapeseed Thunder Oct 28814 281 Dec 28214 273% May 28714 Oats Oct 691 Dec May Barley Oct Dec May Rye Oct Dec May 107 lOO'.i 279% 6914 10614 9914 109V4 I087s lOOli 9814 100% Mr. D. E. WILSON Maralhon Realty Company [imitcd is pfcasccf To nnnounce the appointment of Mr. David E. Wilson os Manager of the Leth- bridgc Centre Village Shopping Mall. Extensively experienced in icfail management operations, Mr. Wilson was formerly asso- ciated wilh a leading reloil de- partment store chain, inrving in British Columbia, Onlnrio and Sn.ikoichowon. Mosl rocivilly, he finnrml Mnnannr of the company's Edmonton store. Centre Villnqc Mall is on oilier project ol Maralhon Rnally'% Prairie Division. Shell signs pact with B.C. firm CALGARY Shell Canada Limited has signed an agree- ment with international Indus- tries Ltd. of Burnaby, B.C. giv- ing Shell the Canadian licen- sing, manufacturing and mar- keting rights for a new, vir- tually pollution-free oil burner. Called (lie Ihe compact unil is regarded as a teclmologoical breakthrough m oil burners, differing radically in design and operation from conventional types. It achieves almost complete combustion, Ihcrchy contributing lownrds cleaner nir. Tt is also easier to service than other burners. Shell will make the unit avail- able to other companies, includ- ing competitors. Perfected during more than a decade of research by a Van- couver invcnlor, Edgar C. Hob- inson, with Shell nnd Federal Government assistance, the burner has been approved by the Canadian Standards Asso- ciation. Production of the unit is ex- pected towards the end of this ycnr nt International Indus- tries' Burnnby Plsnt. Inilally In be used for domestic water healers, n larger version of the burner siiilnblc for furnaces and other applications is planned. Miscellaneous quotations Vancouver; Calgary, Montreal (Supplied by DoherLy, HOBcIbouse and McCuaig) LAST BID OH SALE MlrPO ft.m. Quolett c.m. Ouolen i.m. QutteH WESTERN OILS Huiky Oil Corp Invest S.dS 5.96 Almlnex 5.75 Husky Oil B 42.75 Corp Invesl S F li.Oi 5.53 Alia East Gas Huiky Oil War. 7.50 Dreyfus F U.S. 12.37 13.56 Asamera 19.37Vi Inlcr Prov. Pipe 12.00 Growih Eqully 6.42 7.05 Ashland Oil, Gat 12.75 Inler Sleal, Pipe 6.75 Group Inc S 3.55 3.51 7.IS Cdn Occidental Joule! 4.05 Kaiser Re. 10.50 Kam Kotla L. Dufaull 1I.WA L, Ont Cemen? 76 M. G. F. Man. 45.50 Menlor 16 J5 Newconex 590 Pacific Pele Rank Organ. 37.62W Selkirk Hold, l.ft) Shell Cdn 3350 Shell Inv Pfd. 1.21 Shell Inv. WIs. 1.56 Sicks Rainier 66 Teledyne West Cdn Seed Whllepass Yuk ON, Gas Cdn Southern Cdn Export Gas CUn Home. Cdn Hme Pfd C'jr, Indus. Gas Cdn Long Is. Cdn Superior Cent Dal Rio Charter Chleftan Dame Pete Dynamic Pcfe Great Plains Lochlel Explor Mill Clly Hew Cont. Norlh Cdn Oil Numac Perrno Petrol Pinnacle Place Gas Ponder Ranger Scuiry Rain Soooner Tolai Petrol Wesl Decalla 10.82 11.83 5.27 577 5.41 5.95 5.66 7.30 7.9B N, W. Finance 4Jfl 5.03 N. W. Growth 5.45 J.79 Principle Grow <.2S 4.67 Royfund 5.56 Temple Grow 26.39 18.84 United Accum 4.B4 5.32 Universal Sav 7.22 7.93 VANCOUVER Invest G F .71 Invesl Mut 5.37'A Mul Accum .47 Mul G F 14.37'A Nal Res 2.W 2.00 .97 5.55 34.75 21.SO 3675 36.50 Anuk .58 16.62V2 Arclic Alining Atlas Explora Balhurst Norse Belh Copper Block Bros. 3.75 4.50 MISCELLANEOUS INDUSTRIES 1.32 .62 1.36 .42 13.7.1 19.50 1.B5 8.20 7.10 Agra Indus. Alco Indus Aqualaine Brll Wild Corp Cdn Brew A Cdn Brew B Cdn Hydro Car Cdn Pacific Inv CPR Pfd. Cygnus A Cygnus B Cum. Prop Gl. Oil Sands Gl. Cdn S. 6-75 Home OH A Home Oil B Horns and Pit CALGARY Acroll Barons Oil Norlh Cont Madison Wesl Warner PiPE LINE ST Alia G T L A Alia G T L Pld Alta Nal G Cdn Wesl N G Inand Nat G N and C P3C G Trans N and C Gd; Mello ____ Gar Metro 15 Trans C P Trans C P Pfd 1J.J2V3 Trans C P A 21 50 Trans P C War Weslcoflsl Trans West Pac MUTUAL FUNDS A.G.F. Specia 293 All Cdn Com All Cdn Dmd All Cdn Vent Amerl .19 .43 1.26 3.40 (5.15 19.50 76.50 7.iQ .63 3.65 1.00 5.00 .22 B.75 fl.QD 27.25 5.50 30.00 36.00 S25 5.75 12 00 5.00 100.00 33.50 ______ 2.30 Hudson Bay Co. Cdn invst F Hudson Bay Oil 46.00 Collecl Mul Hud Bay Oil Pfd 58.00 Hugh Russell 19.00 B.C. Sugar .61 B.C. Sugar Pfd fliVi Captain Inlerna .0] Churchill Copper 24 Columbia Cell .36 Corona Credit JCKS Cresfbrook F Ind Cioyden 73.5D Dolly Warden 23.00 Dynasty 7.BD 17.00 Fort Reliance .dS 1! 37Vi Giant Mascot 5.40 15.75 Granisie '3.00 Growers B 2.75 30.75 Key Indust 5.75 Hys 2.55 4S.75 Inlerjor Brew 4.95 34.50 Internal Mar .70 42.00 Kam loops Copper MM Lornex 2.BO 11.00 LyHon Minerals 1.60 New Imp Mines .82 6.25 Okanagan Heliccp Plans Pele .11 Primer .10 _. 9.04 Pyramid .38 9.36 10.23 Silvor Standard ].3l 3.67 Stampede Inl'l Res .81 5.90 6.48 Texmont .47 d.53 4.97 Trojan .30 A.29 4.90 West Mines 3.05 Common Inter K65 Weslern Explora .17 Common Lev 3.B8 Ullca .30 Livestock report Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer Lo a.m 100 cat- tle. Receipts mostly butcher steers and heifers. Trade ac- tive. Good and choice butcher steers meeting a good demand at steady prices, kind and con- dition considered. Good and choice butcher hciTers meeting a good demand at steady prices. There were insufficient numbers of feeder cattle to es- tablish a price. Choice steers: 31.10 to 31.GO; good 30 to 31.25. Ranger Oil earnings up CALGARY (CP) Ranger Oil (Canada) Ltd. earned 000 or 11 cents a share during the six months ended June 30, compared with or six cents a share during the cor- responding period. Gross revenue increased 43 per cent to from 000 Choice heifers: 27.50 to 27.80, good 2G.25 to 27.25. Butcher hogs sold Monday FOE Lethbridge 22.80 to 2-3.50 base price. Calgary livestock CALGARY (CP) On offer to 11 a.m., about head; mostly good and choice slaugh- ter steers and heifers. Trade was active with a good local and eastern demand. Slaughter steers were fully steady to strong; heifers were steady; cows were 50 cents lower; insufficient bulls to es- tablish a market. Choice slaughter steers 31.75 to 32.50, good 30.50 to 31.50, medium 28.75 fo 30.25. Choice heifers 27.75 Co 26.50, good 26.75 to 27.75, medium 25.50 to 26.50. Good cows 21.75 to 22.60, me- dium 20.50 to 21.50, canners and cutters 10 to 20.25, Replacement cattle were mostly heavy short-keep steers at steady prices. Insufficient stock or slaughter calves offer- ed to establish a market. Good feeder steers more than 750 pounds 31 to 32.50 with a few to 33.90. Good feeder hei- fer mure than 600 pounds 27 lo 29. Hogs base price 32.60. Toronto mines, industrials Supplied by Richardson Securities ol Canada LAST BID OR SALE a.m. Quolei) MINES Acme Advocate Asb. Akeltcho Black Bay Braiorni Broulan Bethlehem Drunswlck Canat'a 'ing, Casslar Central Pat. Chlmo Conwesf Cons. Rambler Coin LaKe Cochenour Cralgmont Dlckenson Mines Denlson Mines Deer Horn D'Eldona Dome Mines Donalda Mines Essl Malarllc East Sullivan Falcnnbridge Frobex First MflrllimcE Glanl Y.K. Dovis Granduc Headway R.L. H Hudson Bay M-S Hydra Ex. Iron Bay ISO Jollet Quebec Kerr Adbi5Dn Key Anacon Labrador Lake Shore Ldngls Silver Madsen R L. Malartlc G.F. Martin McNeely Mela rim tnlern Mogul New West Homes New Alhona New Calumet New Imperial Noranda Norlhgafe a.m. Quolei) .33 t.m. OuofMi 10 Do'oico CAB .29 Fd of Amer Gl Cdn Oil Gen Molors 38.37Vi Gt Lakes Pap ,88 Gulf Oil Cda Greyhound Hawker Sid Huron, Erie Hiram Walk Imperial Oil Imperial Tob fnf Nlckei Int pipe Inv Gp A Int Utlllllei Indus) Accept Laurentlde Kelly Doug A Loeb Lohlaw A Metro Stores .15 15.50 600 15.25 Morlix 7.05 Oslsko .51 Patlno .06 Pine Polnl 2.00 Placer Dev. .75 P.C Exp. 1A.OO Quebec Man 4.90 Rnyrock 1.B5 Radlore 21.00 Rio Algom 2.05 Roman Corp Sherrlll Gordon B 50 Silver Miller .05! 1.67 Sleep Rock Tek Corp. .dQ Texmonl .4fi e.B5 Upper Canada 2.00 1.25 Western Mine) 310 23.50 Wright Hargreavej 1.42 .05 Wiliroy .86 .57 Windfall .11 68.50 Yellowknlfe Bear .0? Ztnmac .09'A Massey Ferg .95 INDUSTRIALS McMillan Bloe 1.05 Ablllbl Moore Corp 300 Alcan 1B.37V? Molsons A 94.00 Algomn Steel 13 OD Molsons B Alco Ind 800 Norlh, Cent .96 Allan Sugar 6 Power Corp 9.00 Bell Tel 550 Price CQ Brazil Trie B.75 Rothmans B.C. Tel 3.50 St Law Corp Burns I.Wh send CDA B.C. Forest 9.l2va Simpson's B.C. Sugar 9.50 simp 5eflrs 45Q steel of Can Selkirk A 5-00 Texaco Traders Gp A Trans Mtn Pn Trans Can Pp Union Gas Union Oil Versalile MFg Weileel Union Car Weston's B 1.95 5.50 B.DO 37.00 2225 _... CAE Ind 3.05 Cdn Brew 1.45 Chemcell fi.10 .31 38.DO 2.90 .67 B4.0.1) .11 .21 9.BS 9.00 Cal Power Coron Credll C.W.N. Gas Cdn Indusl Canada S S Cdn Marconi Cdn Vickers Crtrylser CPR Cominco Cons Bath Cons Gas Disi sea Dom Bridge Domfar Dom Textile Dom Slorcs Dome Pele (new) 37.00 l.OO 12.75 3! 00 3 00 31.00 fJwVb Woodward's A B50 West Cdn Sd 2o'50 Zenllh Elec BANKS Can Imperial Montreal Nova Scotia Royal Tor-Dom 2325 17.50 17.50 13.25 62.00 15.25 2.55 21.00 3600 2B.75 19.75 33.00 26.50 7.B7V7 39.25 18.25 8.1 Vh 5.50 3.90 43. OU 11.00 36.75 17.75 17.25 1S.621A 4-60 7.75 19.00 36.50 20.25 15.50 33.75 24.75 34.50 15.12V? 3.60 13.00 17.35 IB.00 23 50 4.50 1.BO 23.00 ?6.75 26.B7V3 New York stocks Supplied by Richardson Securities of Canada Amr T T Anaconda Beth Steel Chrysler Comssl Duponl Gen Molors Gulf ln1 Harvest Kenn Copper Monlgom Ward ,14.75 Sears 10.50 Sid 0 of N J. 24.62ft Texas Gulf Texas cu. 67.12Va Wicks Corp 146.50 Woolworlh Wesllnghouse El U.S. steel 20 Golds 179.77 off 3.69 10 Base M RG 15 off 116.50 33.00 79.00 38.75 2 B.75 31.75 35.50 TftDrtWTrt AVEDflfEC TORONTO AVERAGES 20 Indust 174.21 olf 1.61 15 WCSf 0 235.J5 Volume NEW YORK AVERAGES 3D Indusl B9-S.49 up 5.54 20 Rails 224.42 off .00 1S UIM Olf -J8 3Trj 06 L1 Volume Wage-price freeze draws opposition OTTAWA (CP) The Cana- dian Labor Congress warned the Monday it will op- pose any attempt to follow the U.S. example of a wage-price freeze. CLC President Donald Mac- Donald said in a statement "this kind of an approach would be highly inequitable and hence unworkable in that it cannot be made to apply to all forms of income." He also denounced the 10-per- cent surcharge on imports an- nounced Sunday by President Nixon as "a complete capitula- tion to protectionism which has already been developing in that country." Mr. MacDonald described the wage-price freeze as "a desper- ate resort to deal with an infla- tionary situation in that country brought on by years of misman- agement of their economy which also had an adverse ef- fect on Canada and other coun- tries." The CLC leader was in the unusual position of "complete agreement" with a statement last week by Finance Minister Edjzar Benson that wage and price controls would be ineffec- tive in the long run. "We are also convinced they will not work in the short Mr. MacDonald added. Tueidqy, Auguit 17, 1971 THE tETHBRIDGE HERALD 13 Retaliation seen against controls By THE CANADIAN PRESS Retaliation by the Canadian government was predicted Mon- day as one possible result of economic controls instituted in the United States. Jean Louis Gcrvais, president of the Canadian Importers Asso- ciation, advised members Mon- day to move quickly in clearing goods now in the process of being moved through customs. He said it is possible that as a result of a 10-pcr-cent surcharge on imports on many items by the U.S., some retaliatory sur- charges may be imposed by Cajiada on U.S. imports. Other predictions of possible results of Uie economic controls announced Sunday night by President Richard Nixon in- cluded higher unemployment and an effective freeze on Cana- dian prices. Estimates were that more than one-quarter of Canada's exports to the U.S. will be hit by the surcharge. This may make many Canadian companies less competitive and jobs in Canada may be at stake. SEE TROUBLE AHEAD Initial reaction from business- men was that manufacturing companies and international traders would suffer. Automo- bile companies were the notable exceptions among manufactur- ers. J. C. Whitelaw, executive vice-president ol the Canadian Manufacturers' Association, said more than 13 billion worth of Canadian of a total of 511 billion be directly affected by the sur- charge. About 70 per cent of total Canadian trade is with the United Stales. He said the situation would be aggravated if the value of the Canadian dollar increases in re- lation to U.S. dollar. MAY CUT U.S. COSTS Mr. WMIclaw said production costs in the US. now may fall below Canadian levels. "This, combined with the higher productivity of U.S. in- dustry, could retard expansion of industrial production in Can- ada and thus restrict employ- ment opportunities he said. "In the short run, the U.S. wage-price freeze imposes a lid on Canadian not on Canadian wages. Our manufac- turers cannot raise their prices while those of U.S. competitors are frozen." Pat Reynolds, president ol Bethlehem Copper Corp. of Van- couver, said the U.S. wage-price freeze might nudge the Cana- dian government in the sama direction. "As far as controls are con- cerned, (his had to ho saiit "The U.S. government re- alizes something our govern, nient it is business that creates jobs." MI OI'TnUSTIC Included in President Nixon's economic controls package was a proposal that the US. Con- gress repeal the excise tax on automobiles, which averages about S200 a car. "Anything that increases sales in the U.S. makes us optl- a spokesman for Gen- eral Motors of Canada Ltd. said. A spokesman for Ford Motor Co. of Canada Ltd. said a sub- stantial increase in employment was not likely if demand in (he U.S. increased, because Ford could not add extra shifts. Any increase in production would come mainly from overtime. A Chrysler Canada Ltd. spokesman said the company did not have "idle capacity." Hog sale EDMONTON1 (CP) Aver- age prices to 11 a.m. today provided by tire AJberta Hog Producers Marketing Board. Edmonton: 23.05. Average Monday 23.18. Red Deer: 23.05. Average Monday 23.11. Calgary: 23.60. Averago Monday 23.15. Lelhbridge: No sales. Aver- age Monday 23.18. Lloydminster: No sales. Av- erage Monday 3.15. Total hogs sold Aver- age 23.17. Sows 13.75. CANMORE MINES LIMITED have vacancies for FIREBOSSES at their underground coal mining operation. Applicants should have coal mining experience and have, or be capable of obtaining an Alberla 3rd class certificate. Steady employment in an allraclive location clcse to a wide choice of shopping and sparling facililies is offered. Applicants should write to V. Mrokwia Mine Manager, Box 280 Canmore giving details of their experience, quali- fications, personal details and telephone number, We're Giving BIG BEAT THE PRICE INCREASE OF THE 721! SAVE ON CUTLASSES VEGA? on like-new low mileage 1971 DEMONSTRATORS The Beny Boys are ready to Deal Before you buy Check at Beny's or you may pay TOO MUCH! SAVE HUNDREDS NOW! SAVE ON TRUCKS CONVENIENT GMAC TERMS lo lull your budge) Oh These Value Leaders from General Motors Putting you FIRST Keeps us FIRST IT'S THE SERVICE AFTER THE SALE THAT REALLY COUNTS CHEVROLET OLDSMOBILE Main Garaqe and Showroom Phone 327-3147 OK Supermarket Car Lot Phone 327-3148 ON 7 CAMAROS ;