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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 24, 1970, Lethbridge, Alberta Monday, August M, 1970 THE IETHBRIDGE HERAID 15 Market Moves Sharply Upward TORONTO (CP) The To- ronto stock market moved sharply upward in mid-morning trading today as it entered its second consecutive gaining ses- sion. On index .industrials rose 1.18 to 157.85, golds .13 to 153.53, base metals .44 to 93.45 snd western oils .90 to 173.25. Volume by 11 a.m: was shares. Volume figures for the same time Friday were not available because of computer problems last week. Gains outnumbered losses 137 to 65 with 124 issues unchanged. Strongest sectors were banks, industrial mining, 'trust and loans and utilities. Among rising stocks, Interna- tional Utilities was up to Itico to Thomson Newspapers to Scottish and York to Dome Pete to 60, Moore to 30% and Bethlehem to 1534. Trading in Pure Silver Lacp- nex remained halted. Trading in the stock was halted at the com- pany's request Friday morning. PRICES HIGHER MONTREAL (CP) Prices on the Montreal stock market climbed sharply higher in active morning trading today. It was the fifth straight day in which prices have been stronger Diners Inc. Refinances Debt NEW YORK (AP) Diners Club Inc. has renegotiated a million refinancing of its hank debt in the view of a re- ported million loss for the fiscal year that ended March 31. The refinancing came after the Continental Corp. guaran- teed repayment of the loan. The giant insurer owns 88 per cent of Diners Club's stock. A syndicate of 30 United States and Canadian banks, led by the Manufacturers Hanover Trust Co. in New York, under- wrote the loan. The Diners Club loss was re- ported last week. on the Montreal and Canadian stock exchanges. Highlighting gains were Inter- nationa! Utilities, up to 27% Moore Corp., to Alcan Aluminium, to and Im- perial Tobacco, to 14. Velcro Industries advanced to 20% as did Bombardier Ltd. to IBCO to Price Co. to 8% and Bank of Commerce to Up were Industrial Accept- ance to Bank of Nova Sco- tia to 1914 TransCariada Line to n% and Dominion Tex- tile to MacMilian-Bloedel was off Vi to Interprovii'cial Pipe Line to 23% and Shell Canade to On index, banks were up 1.98 to 170.11, industrials 1.09 to 161.14, the composite 1.00 t 156.76 and utilities .19 to 131.11 Papers were off .92 to 86.08. Volume at 11 a.m. was on the MSB and CSE. EARLY GAINS NEW YORK (AP) Stock prices held their early gains and went higher in active trad ing this afternoon. The Dow Jones average of 30 industrials showed a gain 10.89 to 756.30 at noon. International Nickel rose among Canadians. Alcan anc Canadian Pacific were up and Hudson Bay Mining Dame lost and Granby Vi. On the Amex. Brascan Ltd. was up and Scurry Rainbow Oil was off ART DIETRICH DENTURE CLINIC Certified Dental Mechanic Metropolitan Bldg. 328-4095 Inco Boasts Tallest Stack In World SUDBURY, Ont. (CP) A chimney built at a smelter plant of the International Nickel Co. Ltd. attained its full height of feet Friday night, becom- ing the world's tallest stack. Inco buili the chimney at its Copper Cli'f smelter pjKnt to re- duce air pollution from its oper- ations in the Sudburv area. Officials said it will he an- other year before the chimney will be in operation. Previously, the world's tallest chimney was the stack at the American Power Corp. plant at Mitchell, W.Va. Royalite Car-a-Week Sweepstakes WINNERS NO. 5 AND 6 ten Biedler, James H. Rhodes, Box 634, VIRDEN, MANITOBA 5958-182 Street, SURREY, B.C. We're giving away a zippy Toyota Corolla every week! So pick up your entry form from your nearest participating Royalite service station. (Use your Royalite credit card and we'll enter you automatically.) This week's 115 winners (of watches, binoculars, radios, cameras, pens) are now listed at your Royalite station. Check for your name. Have you entered this week? Join the winners' circle. Livestock Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about 300 head, mostly slaughter cattle of mix- ed quality. Trade was active. Slaughter steers and heifers sold at steady prices, quality and condition considered. Cows sold at better prices. A few bulls traded steady. Good to low-choice steers 27 to 211, 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 21, medium 19 to 20, canners ami cutters 17 to 19; good bulls 25 to 26.50. Replacement cattle were scarce. A few heavy feeder steers sold at steady prices. Good feeder steers over 750 pounds 28 to 29.25; a few stock steer calves 40 to 43. Hogs f.o.b. Calgary to 11 a.m., base price 26.25 t o 26.45, currently 26.45. Grain Prices WINNIPEG (CP) Pit ac- tion slowed to almost a stand- still near the close of the Win- nipeg Grain Exchange today with most oilseeds futures showing easier price patterns. Rapeseed drew most of the activity and experienced major declines in liquidation pressure brought about by an increase in delivery quotas and reports of good harvesting progress. Domestic interests gave steadiness to oats and barley while a little export buying in- terest gave strength to rye. There were no figures avail- able on export loadings of Ca- nadian wheat. Total futures trading volume Friday involved bush- els of rapeseed, of flax and of rye. Prices for Class Two wheat for export to countries outside 1WA: 1 Nor 2 3 4 1 Durum 1.67W; 2 3 1WA and domestic prices: 1 Nor 2 3 4 1 Durum 2 3 High Low Close Flax Oct 272% 270% 272V4 Nov 266 264% 266 Dec 262 260V2 261% May 269 .267% 269 Rapeseed Nov 254% 259% Jan 252Vz 250 255% Mar 253 250 253 May 251 246 251 Oats Oct 82% 81% 81% Dec 79% 79% May 82 81% 81% Barley Oct 116 115 116 Dec 116% 116V4 116% May 120% 120% 120ft Rye Oct 103% 102 103% Dec 106 104% 106 May 111% Hl% Hog Prices EDMONTON (CP) Prices to 11 a.m. supplied by the Al- berta Hog Producers Mar- seting Board: Edmonton: Quoted 26.25 to 27.25, selling 26.35. Average Friday 27.44. Red Deer: Quoted 26.25 to 26.35, selling 26.25. Friday aver- age 27.37. Calgary: Quoted 26.25 to 26.35, selling 26.25. Friday av- erage 27.47. Lethbridge: Quoted 26.35, selling 26.35. Average Friday 27.48 Lloydminster: No sales. Av- erage Friday 26.75. Sows at all points 16.60. To- tal hogs sold to 11 a.m. Total hogs sold Friday Average 27.42. Kinsmen Elect New Officers SASKATOON (CP) Bill Reid of Vancouver was elected national president of the Asso- ciation of Kinsmen Clubs at heir convention here. Past iresident is Dick Rendek of Regina. Elected notional vice-presi- dent was Bill Watson of Font- hill, Ont. It was the largest convention held in the history of the issociation with international [uests from Australia, India, Norway, France and the United States attending. The convention voted unan- mously .to contribute rom the Kinsmen Disaster i'und to the Sudbury Kinsmen Club to allocate, as necessary, to aid victims of the disastrous wind storm in the city recent- Found Dead [u Cruiser VANCOUVER (CP) Fred- erick Boyd Brown, 69, chair- man of Pacific Press Ltd. and director of Sun Publishing to., was found dead on board lis pleasure cruiser at a North Vancouver marina. Mr. Brown, who had suffered rom a heart condition for some years, was reported miss- ng by his wife when he failed o return from 8 short cruise. MISCELLANEOUS QUOTATIONS Vancouver, Montreal (Supplied by Dolierly, Roadhouse and McCuaig) a.m. Quotes) WESTERN OILS LAST BID OR SALE A.m. Quotes) a.m. Quotes! ilnex Asa.'nera Banff B .P. Oil Can South Cdn Exp Gas Cdn Gricloil Cdn Home Cdn Ind Gas Cdn Long Is Cdn Super Cent Del Rio Charier Chteftan Dome Pete Dynam Pete French Pete Gt Plains Mill City New Cent North Cdn Oil Numac Permo Pelrol....... Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner west Decal Husky Oil 11-25 Cmnw Inter 10.37 11.91 Husky OH B 36-50 Cmnw Lev 2.69 2.95 Husky Oil War 5.10 Dreyfus F U.S. 10.01 10.97 rf.55 .1.20 510 8.35 7.EO 10.00 .66 35.50 10.75 6.25 7.50 52.00 1.37 7.10 26.25 1.55 1.06 5 70 6'. 65 .90 1.37 .35 1.10 .53 10.75 19.50 1.40 6.05 Int pro Pipe Inlet Slee t.. Jeff Lake Joutcl Kaiser Res Kam Kotia Lako Ont Pt Mentor Newconex Pac Pete Rank Organ Selkirk Hold Shell Inv Shell Inv Pfd Shell Inv Wts Sicks Rainier Wesl Cdti Sd White and Yuk CALGARY Acroll Anac Pete Barons OH North Cent Plains Pele West warn ]1.37'A Gr Equity 5.94 5.97 6.50 Gr In Shares 2.81 3.09 invest Gr 9.44 10.32 1.27 Invest Mutual 4.64 5.07 Mutual Ac F 4.38 1 77 Mutual Gr F 3.60 3.96 1.90 Nat Res 6.61 7.22 50 N W Fin 3.76 5.75 N W Gr 4.00 4.40 2750 Principal Gr 3.44 3.78 13.12'A Royfund 4.64 -1.76 United Ac 4.06 4.46 Universal Sav 6.21 6.85 29.00 27.50 12.25 3.80 2.10 14.25 VANCOUVER Anuk Arctic Mining Atlas Explor Beth Copper Block Bros .96 Brenda .07 B.C. Sugar...... .06Vi Cap! Inter Churchill Copper .29 Crestbrook F Ind .39 Croyden ____ Dolly Varden Dynasty _____ PIPELINE STOCKS Fort MISCELLANEOUS Aita Gas Tr L A 45.00 Giant Mascot INDUSTRIALS Cdn W Nat Gas Granisle 11.50 In Nat Gas 9.25 Key Indus! 23.12W N and C 12.75 Growers A 4.90 N and C B Pfd 25.62Vi Hy's.......... 14.00 G3Z Metro 3.90 interior Brew 22 6216 Tr Cdn Pipe 29.50 Kamloops Copper 850 Tr Cdn P Pfd 3B.62W Lornex 45.50 Tr Cdn P Pfd A 57.00 Lyttori Minerals S.OO Tr Cdn P War 9.25- New Cronln 5.00 Westcoast Tr 19.75 Primer 3.65 Western Pacific 4.50 Pyramid 100.00 MUTUAL FUNDS Silver Standard ]8.37Vz AGF Special 2.01 T 'C Explor 19.00 All Cdn Com 6.17 6.74 Trojan All Cdn Divrd 7.50 7.67 Western Mines 4000 All Cdti Vent 3.10 3.39 Westcoast Res 52.00 Amr Gr Fund 4.13 4.53 Western Explor 20.00 Cdn Invest F 4.05 4.44 UMca Atco Indus Aquataine Brtt Nfld Cp Cdn Hyd Car Cdn Pac Inv CPR Pfd Crows Nest In Cygnus A Cygnus B Gt Cdn Oil Gt Cdn Oil Sd Home Oil A Home Oil B Hud Bay Co Hud Bay Oil Hud Bay Oil Hugh Rus Pfd .20 .56 1.10 16.00 3.90 11.25 2.65 2.45 6.00 .27 .43 6.95 .56 2.90 13.50 .32 2.95 2.75 1.35 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) INDUSTRIALS Abitibi Alcan1........ Algoma Steel Atco Ind in Sugar Bell Tel Braz Trac ,.C. Tel Burns C. Forest B. C. Sugar CAE Ind Cdn Rrew Cherncell Col Cell...... "a! Power Coron Credit CWN Gas Pfd Cdn Indus Canada S. 5. Marconi Cdn vickers Chrysler CPR Cominco Cons Bath Cons Gas Dist Sea Dom Bridge Domtar i Textile Dom Stores Dome Pf'e Fam Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Kker Sid Hiram Walk mp Oil Imp Tob Int Nickel Int Pipe inv Gp A..... Int Utilities Indus! Accept LaurenJIde Kelly Doug A Loeb Lohlaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molsans A Molsons B 762'A North Cent Pembina Pp Power Corp Price Co Rothmans S( Law Corp Shell CDA 5% Simpson's Simp Sears Steel of Can 25.50 Cpitirk A T; 91 Texaco Traders Gp A Tran jns Mtn Pp Trans Can Pp Union Gas Union Oil Versatile Mfg Union Car 9.87'A Westcn's B ,23.00 Woodward's A 3-25 West cdn Sd Zenith Eelec BANKS Can Imperial Montreal Nova Scotia Royal....... Tor-Dom..... MINES IS-fflVb Acme........ 12.00 Advocate Asb. Akaitcho Area Mines Belcher Iron Black Bay Bralorne..... Broulan Bethlehem Brunswick Canada Tung. Casslar Central Pat. Chi mo....... Conwest Cons. Rambler Coin Lake Cochenour 13.62V2 Craigmont 4.30 Dickenson Mine 5.50 Denison Mines 5.25 Deer Horn D'Eldona..... 18.25 Dome Mines 9.25 Donalda 24.25 Discovery Mine 30.50 East Malartic 13.8714 East Sullivin 5-00 56.25 12.25 61.00 10.00 .17.00 3.B5 73.00 17.50 15.75 1.75 40.50 17.75 13.75 .10.75 23.50 6.75 27.25 13.25 12.75 20.00 6.25 8.25 10.00 19.00 14.75 20.50 22.25 10.75 24.75 33.25 1.90 12.25 21.00 15.00 2.10 1.65 19.25 15.00 18.62VI 21.75 18.50 9.50 2 20 [45 1.95 1.55 .03 .40 .22 16.00 4.80 2.03 20.25 2.55 1.23 11 00 .88 .14 24.75 .OB 1.21 57.50 .28 1.30 1.00 5.50 Falconbridge Frobex First Maritimes Giant Y.K. Gunnar Granduc Headway R.L. Hoi linger Hud. Bay M-S Hydra ex. Highland Bel iron Bay Iso......... Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leitch....... Langis Silver Macassa..... Madsen R.L. Malartic GF.. .Martin McNeety Maybrun..... Maclntyre Mela........ Midrim Intern Mogul New Athona New Calumet New Imperial Noranda Northgate Opemlska Oslsko....... Patino..... Pine Point Placer Dev. P.C. Quebec Man Rayrock Radiore..... Rio Algom Roman Corp. Silverfislds Sherritt Gordon Silver Miller steep ROCK Slscoe Tek Corp..... Texmont..... Upper Canada Western Mines Wright'Har. Willroy...... Windfall Yellowknife Br. Zenmac..... 132.00 1 27 IJO 7.00 1.45 8.15 11.00 .31.00 20.75 .20 2.85 3.15 2.10' .25 11.00 .37 28.25 3.15 1.60 .07 1.25 .83 67 !24 147.00 .17 .29 10.75 .IB .28 1.68 27.25 10.75 11.25 NEW YORK STOCKS Supplied by Richardson. Securities of Canada r T and T Anaconda Bth Steel Chrysler...... Cornsal Dupon! 45.50 23.75 22.75 21.50 Montgomery Ward 25.2S 20 Golds off 1.77 Oil of Texas Gulf N.J. 114.50 10 Base Met 93.82 up 15 W Oils 171.00 off 1.35 Volume NEW YORK AVERAGES fMUf THE MINTO ENGINE Wallace Minto says this new engine system will eliifiirote vehicle air pollution. Essentially a steam engine, it uses freon instead of water to make steam and should last the owner's lifetime, he says. Minto has signed a contract with Nissan Motor Co., Ltd. of Japan to put 100 of the engines in 1972 Datsuns. P Rate Stagnant OTTAWA (CP) The gross national product ran at an an- nual rate of S83.192 million in April, May and June this year, up a narrow six-tenths of one per cent from the first quarter's million, the Dominion Bureau of Statistics reported today. In the second quarter of last year, the total value of all goods and services pro- duced by Canada, measured at the current purchasing power of the dollar-ran at mil- lion, and for the year 1939 as a whole it was million. The bureau said the second quarter of this year was marked by widespread easing of economic activity, reduced in- flationary pressure, and a sharp increase in unemployment. While ths increase for the sec- ond quarter wss six-tenths of one per cent, compared with 2.2 per cent in the first quarter, prices rose in tie second quarter by five-tenths, or one- half of one per cent compared with a one-per-cent rise in the firs' quarter of the year. This was a marked slow-down in price inflation from the in- crease of 1.6 per cent which oc- curred in the last three months of 1969. Discounting the rise in prices, the gross national product for the second quarter in real or uninflated terms was virtually stagnant, rising only two-tenths of one psr cent. DBS said the second-quarter slow-down appeaix-d to be an abrupt change, coming in the wake of the larger increase in the first quarter. But the econ- omy's strength in January, Feb- ruary ant' March reflected an unusual surge of exports to overseas countries resulting from a number of temporary factors. This tended to obscure weak- nesses that were developing in the first quarter in consumer expenditure and investment spending. These weaknesses continued in the second quarter when there was no further sig- nificant boost in exports. The million gross na- tional product for the second quarter this year represented a per capita output of com- pared with in the first quarter 2nd in the second quarter of last year. In terms of the 1961 dollar, used as a basis for comparing uninflated GNP, the gross na- tional product in the second quarter of this year was run- ning at 664 million, com- pared with million in the first quarter and million in the second quarter of last year. On a per-capita basis, the GNP in the latest three-month period was in 1961 dol- lars, compared with in the first quarter of 1970 and in the second quarter of last year. 37.87V2 Texas Co ........32.00 127.00 Wootoorih 33.62Vi 30 Indus! 755.75 up 10.K General Motors Weslinshouse Elec 63.62VJ 20 Rails 132.08 up 1.48 Gulf 29.25 U.S. Steel 15 Utilities 101J2 up 1.10 Harvester TORONTO AVERAGES 45 Stocks 23i.OO up 3.14 Kenn Copper 39.75 20 Indus! 157.87 up 1.30 Volume FOR RENT Building with Sq. Ft. or Less Located on 3rd Avenue with good parking Feasible for any type of business Write Box 24, Lethbridge Herald POWER VAC FRANCHISES This is for cleaning duct work and furnaces in residential and commercial buildings. A new concept in Ihe Cleaning Industry is now avail- able in Alberta, B.C., Saskatchewan and Eastern Can- ada. ALSO POWER'WASH MACHINES AVAILABLE for Details and Demonstration A Representative Will Be At The El Rancho Motor Hotel, Room 106, Lethbridge on Wed., Aug. 26th from a.m. Or Call Vauxhall 654-2416, P.O. Box 311 Or head office, Estevan, Saskatchewan CRAFT SHUTTERS The finest made shutters are now available to you at a tremendous saving. Cannon Craft Shutters not only enhance the decor of any room, but will last a house-time. For odd sized openings you can mix panels of differ- ent trim to fit. The new adjustable hanging strip allows you to in- stall shutters in minutes rather than hours. FEWER PANELS FIT MORE OPENINGS WITH CANNON CRAFT SHUTTERS. NOW! EASY FINISHING WITH SPRAY STAIN AND VARNISH EXTRA SPECIAL 4' x 8' x 4' x 8' x 4' x 6' x ASPENITE "D" SPRUCE D" SPRUCE CHIPBOARD OPEN A CRESTLINE BUDGET ACCOUNT Phone 634-5922 P.O. Box 697 CRESTLINE BUILDERS MARKET LTD. "LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;