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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 20, 1970, Lethbridge, Alberta 14 THS UTHBRIDGE HERALD Thunday, Aujujl 20, 1970 Oil Stocks Pace Market Trading TORONTO (CP) The To- ronto stock market was mixed to fractionally lower in light mid-mornina trading today. On index, industrials lost .23 to 155.77 and golds .45 to 153.47. Base metals were up .10 to 93.69 and western oils 2.10 to 161.93. Volume by 11 a.m. was s hare S, down from at the same time Wednesday. Gains outnumbered losses 97 to 76 with 146 issues unchanged. Among losing stocks, Consoh- dated-Bathurst was down 'A to 10, Sherritt Vs to CPR to 56, Falconbridge 1 to 133, Mc- Intyre to 151, Denison Vi to 25 and United Bata Resources five cents to S3.15. Pacific Pete rose to Kaiser Resources Vt to Aquitaine Vi to Canadian Breweries Vi to 7Vi and Home A Vi. to VOLUME LIGHT MONTREAL (CP) Prices in morning trading on the Mont- real stock market were stronger for the third straight day today. Volume was light. Highlighting gains were Aqui- taine up" to Dominion Stores Vt to 12, Massey-Fergu- son Vs to Irico Vs to To- ronto Dominion to and French Petroleum 30 cents to 6.80. Falconbridge Nickel slipped 1% to 133, Microsystems to 6, CPR Vt to 56, Noranda Vs to 27V8 Bank of Montreal Vt to 14% and Consolidated-Bathurst Vs to 10. On index, banks rose .42 to 168.39, industrials .35 to 158.03 and the composite .27 to 154.06 while utilities slipped .11 to 129.42 and papers .06 to 85.76. A total of shares changed hands on the Montreal and Canadian Stock Exchanges 11 a.m. DJA OFF NEW YORK (AP) The stock market levelled off as the rally of the two previous ses- sions apparently ran out of steam. At noon the Dow Jones aver- age of 30 industrials was off 0.82 at 723.17. Advancing issues on the New York Stock Exchange had a slight edge over decli- ners. Trading was light. Canadian issues were mixed with Alcan and Hudson Bay Mining adding Vs each. Inco was off Vt and Dome Mines dropped On the American exchange, Canadian Javelin dropped Vt and Scurry Rainbow picked up a like amount. Hog Prices EDMONTON (CP) Prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 25.80 to 25.95, selling 25.95. Average Wednesday 25.94. Red Deer: Quoted 25.75 to 25.75, selling 25.75. Average Wednesday 25.94. Calgary: Quoted 25.80 to 26.50, selling 26.50. Average Wednesday 26.18. Letbbridge: Quoted 26.35 to 26.35, selling 26.35. Average Wednesday 26.35. Sows at all points: 16.52. To- tal hogs sold 718, average Wednesday 26. Beef Futures WNNIPEG (CP) The Win- nipeg live beef futures market had some small trades Wednes- day with other offers at prices up to 40 cents higher, but no buyers. Open High Low Close 29.50 29.80 29.45 29.45A 29 00 29.00B 28.50N Sept. Nov. Jan. NET EARNINGS By THE CANADIAN PRESS Agnew-Surpass Shoe Stores Ltrir, year ended May 29: 1970, a share; 1969, Banff Oil Ltd., six months ended June 30: 1970, 12 cents a share; 1969, nine cents. Huskey Oil Ltd.. six months ended June .10: 1970. 1969, Versafood Services Ltd., six months ended June 30: 1970 1969, TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. QUOTES) a.m. Quotes) INDUSTRIALS AblMbl...... Alcen....... Algoma Steel Atco fnd..... Allan Sugar Bell Tel..... Brazil Trac B.C. Tel..... Burns....... B.C. Forest B.C. Sugar CAE Ind..... Cdn Brew Chemcell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indus! Cdn Marconi Cdn Vickers Chrysfer CPR........ Comlnco Cons Bath Cons Gas Dist Sea Dom Bridge Domtar Dom Textile Oom Stores Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oi! Cda Hawker Sid Huron, Erie Hiram Walk Imperial .Oil Imperial Tob Int Nickel int Pipe..... Inv Gp A int Utilities Indust Accept Laurentide Kelly Doug A Loeb....... Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Alolsons A Molsons B North, Cent Pemfalna Pp Power Corp Price Co Roihmans 11.25 St Law Corp Shell CDA Simpson's 13.00 Simp Sears 59.00 Steel of Can 8.50 Selkirk A 23.75 Texaco 15.12VJ Traders Gp a.m. Quotas) FPlronfcrldse 133.00 Frtbi First Ma-lfmes Gianf YK..... Gortrlrum 4.05 7.50 4.40 5.00 22.50 1.05 9.75 7.00 3.25 5.00 moo 56.25 21.12VJ 10.00 15.25 15'.2s" 12.75 11.00 12.00 53.50 8.37'A 45.00 3.50 69.00 17.50 15.25 1.75 1.1.75 39.50 16.75 13.50 40.75 23.50 6.50 Trans Pp Trans Can Pp Union Gas Union Oil Versatile Mfg Westeel..... Union Car Wesion's B Woodward's A West Cdn Sd Zenith Eelc BANKS Cdn Imperial Montreal Nova Scotia Royal Tor-Dom 7.62'A 10.00 19.00 28.12V2 sunra.- Grenduc 20.12'A Headway R.L. 22.12'A Hcl'Inger..... 10 75 Hud. Bay M-5 23.75 hydra Ex. 875 Highland Bell Iron Bay..... [so 17.CO 28.50 13.87'A 32 00 1 75 1200 21 75 1500 1 15 MINES Acme........ Advocate Asb. AKaitcho..... Area Mines Belcher Iron Black Bay Bralorne..... Srculan Bethienem Brunswick Canada Tung. Central Pat. Chimo Conwes....... Cors Rambler coin Lake 13.37'A Cochcrour, J-55 craigmont 5.37Vj Dickenson Mine 5.25 Mines 6.00 Horn 18.00 O'Eidona...... 9 25 n-jme 25.75 Dona da Mine 13.75 East rVitartlc 13.25 East Kerr Atidisor Key Anacon Labrador Lake Shore Leitch Langls Silver Macassa Madsen R.L. Malartic G F. Martin McNeely 19.12Va MayVun 1J.75' Maclmyre 13.75 Meta 21.75 Midrim 18.12V2 Intern Wogu1 New Athona New .09W New Imperial 2.22 Norandu .43 Northgate 2.00 .50 Osisko Patino Pine Point .22 Placer Dev. 16.37V2 P.C. EXD 4.95 Man 2.00 Rayrock 20.1 IVa Radiore 2.60 Rio Algom 10.75 10.75 1.40 25.00 .OB 1 11 56.50 .27 1.30 1.00 5.50 .27 1.11 3.35 1.45 820 12150 31.00 20.25 .20 2. BO 265 2.06 .24 11 50 ...38 28.25 3.15 15.50 .07 1.55 .35 .62 1.70 27.87V 10.37V 11.50 30 3-liOO 30.00 .75 .20 1.23 .32 19.00 MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Itaidhuuse and McQuaig) LAST BID OH SALE a.m. Quotes) o.rn. Quolcs) a.m. Quoics) Your Taxes By LILAsper WESTERN OILS Asamera Biintf PB Oil Ods Can Soutn Cdn Ex Gas Cdn Grldoll Cdn Homestd Cdn Ind Gas Oil Cdn Super Cen Del Rio Dome Peto Dynamic Peet Pete Gt Plains Mill Cily New Cont North Cdn Oil Jumac..... 'ermo....... Gt Cdn Oil 6-75. 1____ Home A 16-50 Home B..... 17.25 Home PIHId 2.10 Bay Co 14.00 Hud Bay Oil 38.37Vi BC Sugai Bay Oil Pfd 51.50 Captain Inter h Russ 20.00 Churchill Cop 5.30 11.25 1050 J.dO 3.70 4.60 6.70 7 10 9'.sn 33.50 1035 54.00 1.55 'innade Mace Gas Ponde.' Ranger Scurry Rain puoner West MISCELLANEOUS INDUSTRIALS Atco Ir.t' 11-50 Acuatfilne 22.50 Brit Ntid 4.50 rein Brew A Pfd 29.50 Cdn Brew B Pld 36.25 18.25 1.24 5.70 Husky Oil Husky Oil B Husky Oil War Inter Prov Pipe Inter Steel Pipe Joulcl Kaiser Res Kom Kotla L Ont Port Ccm Mentor Newconex Pacific Pete Rank Org Shell Inv Shell inv Pfd Shell Inv Wts Sicks Rainier West Cdn Seed White Yuk CALGARY Acroli Ana Pete Barons Oil North Cont Plains Pete West Warner Madison Qulnolta 10.00 Creslbrook Forest 6.00 37.50 Croyden .......27 4.20 Dolly Varden......12 10.50 Dynasty ......7.05 6.50 Endako......12.50 1 25 Fort Reliance .58 10.50 Giant Mascot 2.85 1 63 Granisle 1.90 Key Industries .31 .50 Growers A 3.25 5.70 Hy's 2.75 26.25 Inter Brew 4.25 13.00 Jericho ........06 Karnloops Cop.....11 27.00 Lorncx 7.90 12.00 Lytlon Win 2.85 3.80 Madrono .........33 2.15 New 13.75 Primer.........19 Pyramid .........31 92 Silver Stand 1.56 '.07 TC Elx........ .41 .06 Texmont.........46 .02 Troian .........62 .29 'West Mines 4.20 38 Westcoast Trans West Ex.......26 MUTUAL FUNDS .81 Cdn Pac Inv CPR Pfd Crows Nest Ind. Cygnus A Cygnus S Gt Cdn Oil S 22.00 8.50 40.00 4.55 4.75 3.60 North and Cen 12.00 North and Cen B 25.50 Trans Can Pipe 28.75 Trans Can pfd 38.00 Trans Can ptd A 56.67' Trans Can Pipe W 9.15 Westcoast Trans 19.25 West Pa A VANCOUVER Anuk Arctic Mining Atlas Ex Beth Copper Bornite Ridge Block Brothers Brenda All Cdn Dlv All Cdn Vcn Amer Growth Cdn In Fund ..6. 7.05 7.71 3.06 3.34 4M 4M 4.00 1.3 .20 ...26 1.02 16.50 .24 3.55 11.00 15.25 2.60 2.60 Cmn Lever 2.65 2.90 Corp In 4.71 5.14 Corp in Stock 4.27 4.67 Dreyfus Fund 9.79 10.73 Growth Equity 5.40 5.93 Grouped In Sh 2.76 3.04 Investors Gwlh 9.40 10.26 In Mul 4.60 5.03 Mut Ace 4.29 4.72 Mut Growlh 3.54 3.89 Nat Res 6.46 7.06 Royfund 4.59 4.74 United Ace 4.02 4..12 Universal Sav 6.15 6.72 LIVESTOCK Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to li a.m. 110 cattle. Receipts about evenly di- ided between slaughter and replacement cattle, trade mod- erately active. Good and choice butcher steers meeting fair de- mand at about steady prices. Good and choice butcher heif- ers selling 'generally steady. VIedium and good cows sell at steady rates. Me- dium and good stacker and eeder steeir meeting good lo- cal demand at steady prices. Choice steers 27.75 to 28.40; good 27 to 27.75; medium 25.50 0 26.50. Choice heifers 24.75 to 25.40; goor1 24 to 24.50. Good cows 20.25 to 20.80; me- dium 19 to 20; canners and cutters 15 to 18.50. Good heavy feeder steers to 850 Ibs. 28 to 29; medium 26 to 27.50. Good light stock steers 550 to 700 Ibs. 31 to 34; good feeder heifers 26 to 27.50. Butcher hogs sold Wednes- day f.o.b. Lethbridge 26.35 base price. Hogs sold for export price converted to 21.15. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about head; mostly slaughter steers and heifers. Trade was active. Slaughter steers and heifers were steady with cows and bulls scarce but steady. Choice slaughter steers 28 to 29, good 27 to 28, medium 26 to 27. Choice heifers 25.50 to 26, good 24.75 to 25.50, medium 23.75 to 24.75. Good cows 20 to 20.50, medium 19 to 20, canners and cutters 17 to 20. Good bulls 25 to 26.75. Replace ment cattle were scarce with a few heavy steers selling 28 to 29.25. "No stock or slaughter calves offered. Hogs base price 26.50. Macleod Livestock FORT offer head cattle and calves Fed steers were off 50 cents while heifers were up a ?1.0( lower, mostly on account o overfinish. Slaughter cows and bulls held steady, while fleshj feeders sold in line with the fat market. Grass yearlings and two-year-olds were in keen demand at improved prices t local accounts. Choice fed steers 27.80 to ,8.10, good including holsteins ,8.75 to 27.50. Choice 4.75 to 25.30, good including verfinished 23.30 to 24.60. Good cows 20.90 to 21.40; medium 19.50 to 20.50; canners nd cutters 16.50 to 19.00. Good bulls 25.50 to 26.30, lain to medium 20.00 to 23.50. Bulk of feeder weights, 2- ear old grass steers anc eavy yearlings selling 28.00 to 0.00, medium 26.70 to 27.75. tocker weights good quality 2.00 to 35.00; light weights to 7.70, medium 31.00 to 33.75. Good feeder heifers 27.00 o 28.00 with those more on docker order and off grass old over the 30.00 mark. Med um heifers brought 26.00 to 8.00 depending on weight. Dollar Value NEW YORK ollar down 17-64 at 98 7-64 in ernis of U.S. funds. Pound ster Silverficlds Sher-itt Gcrdon Silver Miller Steep Rork Siscoe Tek Col p. Texmont Upper Caneda Western AAlrcs Wright Har WiMro" Windfall..... Yeriowknlie Br. Zer.mpc 2.10 18.00 2.85 1.E4 i.10 M 1.47 .1.15 1.50 1..15 .12 4.90 .11 NEW YORK STOCKS .Supplied by Richardson. Securities of Canada Amr T anti T Anaconda Bth. Steel Chrysler Comsat..... Duponf GM Gulf me Kcnn. Copper Mont Ward Sears 2I.37V3 Std Oil of NJ 13.75 Texas Gulf 36.50 Texas Co. 170 CO Woolworlh 6R.62V'z Westinghouse U.S. S'teel 33 TORONTO AVERAGES 20 Indus 155.63 off .32 .23.67Vi 20 Gn'ii {53.-i3 Off .49 61.87Vj 10 Base Met 93.65 up 04. 6562V: 15 W Oils 151.10 up 1.27 Volume 31.00 NEW YORK AVERAGES 31.CO 30 Indus 723.78 off .21 61.25 20 Rails 178.45 off .5! 15 Utilities 104.61 oft .36 65 Stocks 227.12 Off .39 Volume COMPUTER ACCOUNTING AND MANAGEMENT LTD. Data Processing Services 507 CANADA TRUST BIDG. TELEPHONE 328-7883 Prices EDMONTON (CP) Weekl} egg and poultry report issuer. by the Alberta department o agriculture: Eggs To producers A large 39, A medium 29, A smal 14, B 12, Co, Cracks LO. To re tailers A large 51-52, A met! ium 40-44, A small 25-26, B 25 C 20-21, Cracks 23-24. To con sumcrs (in cartons) A larg 55-56, A medium 44-47, A smal 29-35. Poultry producers Live No. L chicken broiler 20. Fowl under 4, Turkey under 12, Live No. "hickcn Turk cy under 12, Huge Increases Inevitable Unless The public discussion of tax is Hearing its conclu- sion. The parliamentary com- mittee has finished Us tour of he country and relumed to Ottawa to write its report. Fi- nance Minister Benson has con- irmed the one year hike in the mplementalion dale of the >lan and within the next few months will reveal the govern- ment's final intentions on the mechanics of the new system tor collecting federal revenue. And as the intensity of the debate wanes it becomes clear .hat the core issue, the funda- nental premise on which the ;ax reform plan rests, will not je given the serious attention t deserves. That crucial issue is best summarized by the question: should government generally freeze or even reduce ;ts spending; or put another way, are governments already taking too much from the pub- lic and would it be best to make a general reduction in taxes? The white paper begins on the premise that government spending should continue to es- calate and therefore tax reve- nues must continue to increase. If one accepts the validity of this thesis, then give or take corrections required to make the proposed system more fair and effective in achieving na- tional objectives, there isn't much room for change in the taxing concepts proposed by Uie government. Perhaps Canadians do not consider themselves over-tax- ed, and if that is so, living with the tax reform plan will not be too onerous. However, there is growing evidence, inarticulate though it may be, that a very large and increasing number are nearing the breaking point in tax burden acceptance. Nevertheless, little was said on the subject during the dia- logue. But before the final package is accepted, taxpayers and political leaders alike would do well to devote a lasl sober thought on the question of where this is all leading. The current trends are at once un- mistakable and disturbing, for if government continues to in crease its spending it must con tinuaUy raise its taxes. The finance department re- port for the first quarter of fis cal 1970 demonstrates the point. Spending is up by ast year. Thus government ilso had to increase iLs revenue mainly through taxes) by the ame amount. Inflation con- .inucs, and while the govern- ment has taken many com- mendable steps to arrest it, it irrebuttable that the Grain Prices Winnipeg Grain Prices WINNIPEG utures closed weaker at the Vinnipeg Grain Exchange to- day following a d a y-long drift owards lower levels. The rapeseed prices began ollowing the easier pattern set >y the Chicago soybean mar- ;et, but after mid-session the Winnipeg prices developed an even easier trend with only No- 'ember holding steady. Trading was fairly active, but somewhat erratic in most com- modities with few futures man- aging to maintain strength. Wednesday's volume of trade ncluded bushels of rapeseed, of rye and of flax. iExport loadings of Canadian wheat Wednesday consisted of bushels to China, 786 to Haiti, to Japan, to the United Arab Re- public and to Britain. Prices for Class Two wheat !or export to countries outside IGA: 1 Nor 2 1.70'A; 3 4 1 Durum l.SlVt; 2 3 IGA prices: 1 Nor 1.73% 2 1.70% 3 4 1 Durum argest single factor in the in- crease in the price of goods over the past five years is the ncreased taxes on producers and consumers. A glance at the fiscal figures for the past five years gra- phically illuminates the point and brings the issue into sharp focus. In 1965 the federal gov- ernment look about billion from the public; by next year that extraction will have nearly doubled to billion, without tax reform hike. Taking all federal, provincial and municipal government to- gether, the picture is somewhat worse. In 1965 all governments took billion from the public, but by next year, mainly because of increased provincial and municipal spending, that take will have more 1.6754 Oct Nov Dec May 2 3 High Low Close 270V2 269% 276 Rapeseed 268 Nov Jan Mar May Oats Oct Dec 265 265 82V4 274% 269% 268 263 262V4 257 81% 81 Vi May 117% 118% 123 May 124% Rye Oct 110% Dec 112% May 117% 274% 270 268 etween 7 per cent and 26 per cent. In 1965 the provincial de- ficits totalled about mil- ion. It is projected to reach spending of over billion in excess of revenue by 1971-72. All of wlu'ch makes one thing quite certain. There are vast increases in store at all ,lnee levels of government over the next five years un- less the public demands a stop to the cm-rent progression. If it does not, then by 1975, the in- dividual tax load being car- ried by Canadians in 1970 will look small in comparison just as the 1965 load is a dwarf be- side Ihe current burden. Tliis is an appropriate time for these questions to be raised and argued. Indeed that proce- dure was Followed in the 1970 United States Tax Reform where the administration de- cided to change direction. Tax revenues are to be cut all across the board by billion. If Canada does not shortly commence a similar program and reverse or at least bring to an abrupt halt the present trend in government spending and taxing, than within little more than a decade we_ may not have an economy which is just heavily influenced by gov- ernment, but rather, a situa- tion in which for all practical purposes, government, is the economy, with all of the of individual freedom of choice that entails. This is a subject which re- quires public attention and po- litical debate prior to the intro- duction of a new tax system. (Mr. Aspcr Is a Winnipeg lawyer) ALL CLASSES INSURANCE AUTO HOME BUSINESS FARM 327-2793 TRAILER CITY... Continues A DIVISION OF UNITED MOTORS CO. LTD. ALL NEW 1970 MODEL Scamper Trailers Campers Motor Homes '-1? There's never been anything lo match our Greatest Ever Year-End Clearance Juit look at and compare the values offered You can't go wrong 10 make your movt nowl We Defy Anyone To Match This Valuel ,1970 MODEL 17 FOOT SCAMPED Fully equipped, fridge, heater, shower, hot and cold water, toilet, twin tanks, awning. Regular List 1970 MODEL 17 FOOT SCAMPER With toilet, brakes, awning, twin tanks. Regular list Clearance Priced At------ S2495 WE ARE EXCLUSIVE DISTRIBUTORS FOR SQUIRE MOBILE HOMES {In Single and Double Units) IN SOUTHERN ALBERTA Double Unit Is CMHC Approved! looking for o place lo live with low down payment and low monthly payments? Seo us for complete details and move in immediately! CLEARANCE S2869 1970 MODEL SVi-FOOT SCAMPER CAMPER With 3 burner stove and oven. Sleeps 5. Regular List Clearance Priced At------ S1649 1970 MODEL 21 FOOT SCAMPER Fully equipped. Regular List 54495. Clearance Priced At 1970 MODEL 15 FOOT SCAMPER With brakes and awning. Regular List Clearance Priced 1970 MODEL 11 FOOT With fridge, heater, twin tanks, lacks, toilet, shower, hot and cold water. Regular List Clearance Priced At S2550 1970 MODEL 18.1-FOOT MOBILCRAFT TRAILER With fridge, neater, Iwin tanks, awning, Monomotic toilet, 12 volt wnler service pump. Regular list Clearance Priced Al 14-FOOT CHALET FOLD-DOWN UNIT 1970 Deluxe Model. Sleeps six, has ice box, 2 burner stove, 110 and 12 volt lighting, spore wheel. Regular list Clearance Priced At.............. WORTH OF USED CARS TRAILERS, CAMPERS SLASHED IN PRICE TO CLEAR! DIVIDENDS By THE CANADIAN I'UESS Goodyear Tire and Iluhlic Co. pfd. 50 cents, Oct. 30 record Oct. 9. Molson Industries clas A 18 cents; class B 11) cents, both Oct. 1, record Sept. 1. Nalinnnl Drug nnii Chemical Co. Mil., pfd. 15 cents; common five coni.s, both Sept. 1, record Aug. 23. National Grocers Co. Ltd., pfo. 3714 cents, Oct. i, record Sept. 10. 1966 TEE PEE TRAILER 16-fool, fridge, healer, brakes, awning. JJegular List Clearing At S129S No Down Payment Required If Credit Approved! EXTRA SPECIAL VALUE! 1 ONLY! SQUIRE DOUBLE UNIT SHOW HOME 24.foot by 48-foot with extra half bolh, low slope roof with overhang, plus asphalt shingles, carpet in master bedroom, plastic tub enclosure, electrical mast. Regular List Extra Special, Only............ EXTRA SPECIAL! 1 ONLY! SQUIRE SINGLE UNIT SHOW HOME 64'xl2', extra half both, carpet in living and master bedroom. Regular List Extra Special, Only 1961 LAKEWOOD TRAILER 17-foot, self-contained, fridge, healer, brakes, hot and cold water, shower. Regular list Clearing At 1966 FORD COMET SEDAN 6 cyl., auto., radio, blue. Regular list Clearing At 1969 OLDSMOBILE SEDAN V-8, auto, trans., P.B., P.S., radio, many other features. Very low mileage. Regular List Clearing At S3195 1967 DODGE SEDAN 6 cyl., auto., radio. Rigular list Clearing At S1550 1967 CHEVROLET SEDAN V-8, automatic, radio. Regular list Clearinc, At S1595 1967 RAMBLER AMERICAN 6 cyl., std. trans., radio. Regular List Clearing Al See these and many clher greot buys now available at: UNITED MOTORS CO. LTD. 3rd Ave., 3rd Si. S. Phone 327-280S ;