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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 2, 1971, Lethbridge, Alberta Thunday, D.c.mber I, 1971 THE LETHBRIDGE HFRALD 27 Weaker trend at mid-morning TORONTO (CP) Western oil issues moved moderately lower as prices on the Toronto stock market failed to continue to post the strong advances recorded in previous sessions in moderate mid-morning trading today. The industrial index was down .06 to 168.86 and western oils .54 to 198.37. Golds were up .18 to 146.82 and base metals .55 to 71.65. Volume by 11 a.m. was shares, compared with at tie same time 7'cdnesday. Advances outnumbered de- clines 129 to 85 with 175 issues unchanged. Banking, communications, steel and pipeline issues edged moderately lower. Beverage, real estate, food processing and merchandising issues recorded moderate advances. Du Pont dropped to H, Slierritt to Asamera !4 to Pacific Pete to Inco to Imperial Oil to and Tara '.4 to Hamilton Group climbed to Company directors an- nounced a three-for-one stock split, subject to shareholder ap- proval. Falconbridge gained K'e to Hudson's Bay Oil and Gas to Supertest ordinary Vz to Vz, Molson A Va to S17'i and Mclnlyro lk to U.S. dollar plunges to record low LONDON (AP) The possi- bility of devaluation sent the U.S. dollar plunging to record I lows on major European ex- changes today. Market conditions were gener- ally described as hectic and slate banks in Paris and London were reported buying substan- tial amounts of dollars to slow the decline in value. In Switzerland, banks were limiting dollar transactions to a maximum of million a cus- tomer. The dollar-selling wave was sparked by reports from a Rome meeting of the richest Western nations that the United States is ready to negotiate a dollar devaluation of perhaps five per cent against gold within a general realignment of world currency values. The official price of gold now is an ounce and the unofficial price around Exchange operators expected a cut in the dollar's value to be announced after a further meet- ing of the Group of Ten non- Communist nations in Washing- ton Dec. 17-18. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dohcrty, Roadhonsc and McCuaig) LAST BID OR SALE a.m. Quotes) Quotes) Farm Improvement Loans Act 1 a.m. Quotej) WESTERN OILS Almlnex Aita East Gas Asamera Ashland BP Oil GflS Can South Cdn Ex Gas Cdn Homestd Cdn Home Pfd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charier Chleftan Dome Dynamic Pete Gt Plains Gt Cdn Oil Lochiel Mill City New Cont Norlh Cdn Oil Numac Pan Cdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Seibens Total Ulster West Decalfa West Pete MISCELLANEOUS INDUSTRIES Aqyaiaine 35-00 Hud Bay Oil Pfd 51-00 Hugh Russell 20.DO Husky ON 16.35 Husky Oil War Inter Prov Pipe Inler Prov Steel Kaiser Res Lake Dutault MGF Manage Pacific Pete Slck's .48 Teledyne West Cdn Seed 5-25 5.60 15.50 10.00 5.90 5.70 3.25 8.35 15.75 Mut Gr Fund Nat Resources HW Finance 635 HW Growth 13.13'A Prln Growth 7.00 Roylund 4.25 Temp Growth lO.UMi United Accum 1.95 Univ Savings 38.37Vi Vanguard 4.71 5.1 B 6.29 6-83 4.35 -UB 5.33 5.66 3.88 4.26 5.33 5.55 5.D3 5.50 4.72 5.19 6.73 7.40 8.10 27.50 1.00 2P.50 4.55 1.32 2.00 .55 roll 2.50 -I.05 t.a ?.50 .38 Acr... Barons Oil MadKon -T6 North Cent -02 West Warner .AS PIPE LINE STOCKS Alta Gas Tr VANCOUVER Minis Anuk Artie Mining Atlas Explor Bzith Norse ml net Brenda Church Copper Croyden Dankoe Dolly Varden Dynasty RclianCB Nat Gas Giant Mascot In Nat Gas 12.62'A Granisle Nor and Cent Gas 13.62'A Kam Copper ,-f! Nor and Cent B 28.00 Pac Gas Trans 12.50 Gar Metro 5.50 M3 Ga7 Metro A 65.75 Trans-Cda Pipe 34.50 Trans-Cda Pipe B 41.75 'A Tran5.cda Pipe A 63.50 Trans-Cda P Warr 9.40 West Tran5 53.55 MUTUAL FUNDS All Cdn Com 7-93 B.. All Cdn. DIvl 8.85 9.67 Bl 57 8.W 6.00 1.50 A.iO 8.25 Lylton Minerals Primer Pyramid Silver Stan Texmont Valley Copper West Resources Industrials :k Brothers Ind MONTREAL (CP) Prices dipped slightly 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 wit at the same time Wednesday. On index, banks fell 1.32 to 220.49, the composite .21 to 172.29, papers .11 to 70.62, in- dustrials .09 to 171.32 and utili- ties .06 to 148.07. "Ming gains, Hudson's ___, advanced 1 to Met- ropolitan Stores 1 to S15. Placer Development to Fal- conbridge to Shell to and R. L. Crain to Cdn Brew A Cdn Brew B Cdn Pacific In' Crowsnest Ind Cygnus A Cygnus B Genslar Home A Home B Hud Bay Co Hud Bay Oil All Cdn Vent 3.47 3-79 B.C. Sugar Amer Gr Fund 5.86 6.43 B.C. Sugar Pfd AGF Special 2.70 Captain Inti Cdn Inv Fund 4.47 4.90 Crest Foresl 4.90 Coll Mutual 5.72 6.23 Grower's B 3000 Comm Inter 12.67 Key Industries 3J50 Comm Lever 3.22 3.54 Hys Corp Invest 5.27 5.75 Inter Breweries 2600 Corp Inv St Fd 4.65 5.08 Inter Mariner Drev Fd U S 11.74 12.67 Okan Helicopter 5.00 5.50 11.25 28.50 30.00 17.50 42.75 Shares Gr Equity In Gr Fund Inv Mutual Mut Accum 3.25 3.5B Pac West Ail 5.96 6.54 Stam Int'l Res 5.68 6.56 plains Pete 5.04 5.54 West Explorations 2.60 16.00 16.35 5.75 3.00 3.50 .20 2.90 10.75 .73 Farmers borrow million Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE By KGON FRECII Herald Ottawa Bureau OTTAWA Prairie farmers borrowed million under the Farm Improvement Loans Act during the third quarter of 1971 to bring their borrowings for the first three-quarters of the year to a total of mil- lion, the federal department of finance said Wednesday. Loans in other parts of Can- ada, particularly in Ontario, brought the total for the first three-quarters of the year to million. Under the act, the federal government guarantees loans by chartered banks and other lenders to farmers for a wide range of purposes. The limit is per borrower, with in- dividual limits of for and assembly and for ,her purposes within the over- 11 limit. Following are figures for the iree Prairie provinces, with ist year's figures in brackets: Manitoba million million) for the first quarter nd million so far this ear. Saskatchewan mil- on million) for the third uarter, with a total of million so far this year. and million so far this for Canada for the third quar- ter was million, compared to million for the third quarter of 1370. A total of million was guaranteed under million) for the third qmrter .same period in 1970. The total Great-West Life dropped ris to Intel-national Utilities '.4 to Bank of Nova Scotia ?s to SSO'% Interprovincial Pipe Line to Stelco Vi to and Bank of Montreal Vt to Advocate Asb. Akaitcho NEW YORK (AP) Slock market prices slipped lower as the profit-takers moved into the market in fairly active trading today. The noon Dow Jones average of 30 industrial stocks dipped 2.19 to 843.82. Among Canadians Alcan was up at Dome and Mc- Intyre Vt at and respec- tively, and Hudson Bay >s at .Off >s were Canadian Pa- cific at S12% and Inco at On the American exchange Scurry was off >4 at i, Jav- elin at Marconi V, at Brascan was up at FOOD FRANCHISE COMPLETE NEW DINING FRANCHISE OPERATION in the East Kootenay for opening in spring of 1972. Operator required with limited finances and opportunity to purchase complete operation Reply To Box 95, Herald SURVEYOR land developtnenr company, operating in Calgary, requires an Alberta Land Surveyor to organize and head a new legal survey department. This position offers an excellent future. Applications are invited from experienced and newly licenced surveyors. Reply In Strict Confidence To Box 96 WOO am. Quotes) a.m. MINES Osisko .21W Dofosco mp 23iA Patlno CAB 1.60 Pine Point d2 Placer Dev. 1.30 P.C. Exp. 30Vj Quebec Man 15.75 Rayrock Radiorc Rio Algom Roman Corp. Sherritt Gordon Silver Miller Steep Rock Tek Corp. .10 Texmont 20W Upper Canada 7 25 Western Mines 7.50 Wright Hargreaves 1.20 20.37'A Willroy .66 03 Windfall -OB .42 Yellowknlfe Bear 52.50 Zenmac INDUSTRIALS Bethlehem Brunswick Canada Turn Cassiar Central Pat. Chimo Con west Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mine Denison Mines Dc-er Horn D'El dona Dome Mines Donalda Discovery Mines East Malarlic Eait Sullivan Falccnbridge Frobex First Giant Y.K. Bovls Granduc Headway R.L. Hollinger Hudson Bay M-5 Hydra Ex. Iron Bay IEO Joliet Quebec Kerr Attdlson Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malarlic G.F- Martin McNeel, Maclntyre Midrim West Home New Athona New Calumet W. Horse Copper Noranda Northgate NorlGX Opemiska 2 95 1 i? 1825 1 33 1.13 7 10 1.33 20.50 21.25 -57 .09 1.01 -IB 13.25 5.00 12.25 Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Greyhound Hawker Sid Huron, Erie Hiram Walk 1.50 ,03W Imperial Oil Imasca Int Nickel Int Pine Inv Gp A Int Utilities Indust Accept Laurentide .OB Kelly Doug A MO Loeb Loblaw A Metro Stores .70 .JO B.GO 1.55 3.50 Abitibl Alcan Algoma Steel Atcr> Ind Atlan Sugar Agra Indust 6.40 .15 34.00 2.30 Brazil Trsc B.C. Tel Burns B.C. Forest B.C. Sugar Bow Valley CAE Ind Cdn Brew Che m cell Col Cellulose Cal Power Coron Credit C.W.N. Gas Ccin Indusf Canada S S -55 Cdn Marconi .07Vj cdn Vickers 60.50 Chrysler .09V2 CPR -11 Cominco 7-75 cons Eth Cons Gas Dist Sea T-76 Dom Bridge 2B-M Domtar 4-EO Dom Textile Dom Stores 7.20 Dome Pete Massey Ferg 16.25 McMillan Bioa 11 S7Vi Moore Corp 7.55 Molsons A 5 75 Molsons B 8.62Va North, Cent 45 25 Power Corp 16.25 Price Co 60.50 Rothmans 12.35 St Law Corp H.62Va Shell CDA 1B.OO Simpson's Simp Sears Steel of Can Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans Can Pp Union Gas Union oil Versatile Mffl Westeel Union Cor Weston's 8 ___ Woodward's A 1B.87'A West Cdn Sd 5.87Vi Zenith Elec BANKS Can Imperial 20.50 Montreal ll.CO Nova scotla RWI 27.50 Tor-Dam Quotes) 21.50 12.75 66.00 4.60 80-50 23.50 2.15 38.00 20.50 1B.37V4 20.75 2B.50 40.00 19-50 10.25 3.25 5.12% 15.00 10.00 22.75 35.50 17.CO 16.50 26.25 4.25 6.25 4.35 2.75 31.75 1.03 11.25 13.25 39.25 2.55 8.50 27.75 12.25 6.50 13.75 19.50 21 00 26.25 16.00 33.00 16.00 20.25 34.00 13.B7V 42.00 3.05 13.25 12.87'A Ifi.OO 23.00 4.60 2.05 30.87V 27.87V; New York stocks (Supplied By Richardson Securities of Canada) 95 37Va 20 Golds 146.10 Off .54 69 62W 10 Base Met 71.65 up .5 113.12Va 15 West Oils 197.92 off .9 Volume NEW YORK AVERAGE Amer T and T Sears Anacaida 12.75 Std Oil of N.J. Belh Steel Texas Gull Chrysler 27.8714 Texas Co Comsat 57.75 Wicks Corp Duporit H2.50 Woolworth Gen Motors 80.37'A Wesl Electric Gulf U.S. Steel TORONTO AVERAGES wK 20 Ind 168.72 off .20 33.5C 46.50 48.75 30 Ind 843.67 off 2.33 20 Rails 227.34 off -76 27.371'a 15 Ufll 110.62 up 1.15 65 Stocks 292.00 off .67 Volume old cars to be shredded CALGARY (CP) Navajo Metals Ltd. of Calgary said here it will demolish about 000 derelict cars in the prov- ince a year. Acting under a contract from ths highways department, the company will visit 150 to 175 locations to remove the aban- doned vehicles and turn them into shredded metal that can be sold to a steel mill. Frank Tinevez, co-owner the ton, said the company' portable car stjuasher will b towed to locations where car are to be removed. Then, the flattened cars wi be trucked to Calgary wher they will be fed into Navajo metal shredder. o. LIMITED ST. EATON ACCEPTANCE C Sinking Fund Debentures (unsecured) To he dated December 1, 1971 To mature December I, 1991 1'ricc: 99.25 and accrued interest thcnnilcrsifficd. DOMINION SECURITIES CORPORATION LIMITED Tonmin MONIRUL NEW YORK lONnon, isn. runs. FIUHCC VANCOIIVCB HALIFAX SAIIII JOHN MflNCTON St HYAtlNlllI OTTAWA HIIBHOROUtll OSHAWA BRANIFOBD KITCHENER lOIIDON MIRTH BAY November 1971 TCH WINNIPEG CALGARV SHFnBBOBKE IROIS-fflVliRlS IIAMIITOM ST. CATIIABIUtS THUNOIR BAY [DMnNTOH VICTORIA year. For all of Canada, there were a total of loans during the third quarter for a tolal ot million, compared to 525 loans for a total of million for the same period last year. The Farm Improvement Loans Act came into effect in March, 1945. Since that lime, a total of billion has heen loaned. Maximum interest rates for the loans are determined April 1 and Oct. 1 each year. For land purchases, the maximum rates were 8Vi per .cent from Jan. 1 to March 31, 1971 and 7-14 per cent from April 1 to Sept. 30. For all other purposes, the rates were 8 per cent from Jan. 1 to March 31 and 7 per cent from April 1 to Sept. 30. General-purpose loans are repayable over a 10-year pe- riod and land purchase loans over a 15-year period. The finance department also released statistics for the Small Businesses Loans Act, which came into effect in Jan- uary, 1961, and has allowed the government to guarantee a to- tal of million in loans. As with the farm loans, there was an increase in the amounts the act lor the first three quar- ters of this year. Of this total, Alberta got Sas- katchewan and Manito- ba Grain price review Winnipeg Grain WINNIPEG (CP) Rape- seed prices were unchanged in a quiet trade at mid-session on the Winnipeg Grain Exchange today. Other commodities were barely active. Lead-zinc mine to be closed TRAIL, B.C. Ud. will shut down its Bluebell ead-zine mine at Riondcl, in the West Kootenov, on Dec. 21, .he company's nnnes Manager R. P. Douglas an .meed today. The mine, which had been in Woo ail 111 MIC aniuuiuB 1-1 i loaned during Uie third quar- continuously o 20 oane urn ie r Alberta million ter of 1971, compared to the >'cff. tas oul of OTe' he Livestock report Lethbridge Livestock MOT AVAILABLE AT PRESS TIME TODAY Calgary livestock CALGARY (CP) Thin-s- ay's receipts on the Calgary iveslock market to 11 a.m. Called head; mostly mixed grades of slaughter steers and cows. Trade was active. Slaughter steers sold steady with no strictly choice kinds on About 60 temporary workers pill be laid off, while Ihe 100 permanent employees will be placed in other jobs with the company or kept to help with clean-up operations at the mine, Mr. Douglas said. Volume of Irade Wednesday was bushels of flax, of rapeseed and of rye. MID-SESSION Flax: Dec. higher 2.M5iB, May higher July '.i higher 2.463iB. Rapeseed Vancouver: Jan. !k higher'.jB, March higher June :U higter Rapeseed Thunder Bay: Dec. unchanged 2.44UB, May higher 2.54'iB, July un- changed 2.53'iB. Oats: Dec. Vs lower May unchanged fi73.i, July un- changed, 67ViB. Barley: Dec. 'i higher 1.05UB, May 3k higher 1.07'sB, July not open. Rye: Dec. higher 93'iiB. May '.i higher 1.00'j, July not open. Grain quotes Wednesday (ba- sis High Close Flax Dec 234'4 234 May 244Vi 244 Jly 24G Rapeseed Vancouver Jan 267'i 264'z 2G53i Mar 267Vz June 265 263! i Rapeseed Thunder Bny Dec 244ii 243 244'. 6 May 254 Vi 2.i3''z 253'z Wildcat wells 'allowable' under study CALGAHY (CP) The Al- berta energy resources conser- vation board reserved judg- ment Wednesday on an applca- tior. for relaxed pro duction i-ules on wildcat wells. The application presented by the Independent Petroleum As- sociation of Canada and sub- missions by 16 interveners were heard in two days. Imperial Oil Ltd., Amoco Pe- troleum Co. of Canada, Mobi Oil Canada Ltd., and Gulf Oi Canada Ltd. were the main ob- jectors. The independent association told the board, headed b; chairman Dr. G. W. Govier that it seeks an increase in dis cpvery allowable rates of crude oil production as an exploration incentive in tire province. The plan, IPAC said, woul< increase revenues from wildca wiells which could Ihen be pour ed back into further exploralion and development. NO MORE HUNTS The Norwegian government has decided that 1971 will be Ihe last year in which hunting expe- ditions for polar bears will be permitted. ffer. Heifers were 253' i cows fully steady with sales TIIE CANADIAN 23 50. Bulls 50 cents Co. Ltd., 1214 f.4% Choice steers 33.50 to extra of 15 cents) Dec. 67-li G7U fi73i good 32.25 to 33.25, medium Dec. to 31. Choice heifers 31.50 Credit Corp. 32, good 30.25 to 31.25. per cent pfd. series A 105 1W1 105 28.75 to 30. Good cows 22.25 Jan. 31, record Jan. 10754 107-ls IOT'4 23.25, medium 20.50 to 22, Nest Industries Ltd., 106-ls ners and cutters 17 to 20. Dec. 17, record Dec. bulls 23.50 to Lakes Power 93's M 93'i Replacement cattle 30 cents Dec. 29, 100'i .100 100'i mostly heavy short-keep 101 'a Good holstein steers to pounds sold as feeders at 31 to 31.50. Stock calves were selling steady, good feeder steers 750 pounds up 32 to 35, sales of lightweights to 38. and stock and feeder cows 21 to good stock steer calves 39 4th Avenue S., 44.25, good stock heifer calves 33 to Hogs average base 24.35. Lambs sold steady nesday, good heavy lambs i TAX PHYSICIANS We will buy your present equipment at full and lease back. Think what you could do with the money you up in your office. PROFESSIONAL SUPPLIERS AND ALLIED TRADE REPRESENTATIVES i THIS OFFER IS WORTH INVESTIGATION Phone 328-5037 or 823-5811, DAY OR MONARCH LEASING Ste. No. 1006 Board of Trade t 1177-W. Hastings St. Vancouver j All REPLIES HELD IN STRICT EXPANDING BUSINESS WINNIPEG (CP) A Winni- peg buggy whip factory turned out whips in 1970 and ex- pects 1971 sales lo increase by at least 10 per cent. By Gene Fawcette MUSCLES MAKE SOUNDS WHICH CAN BE HEARD THROUGH SPECIAL INSTRUMENTS. RUSSIAN RESEARCHERS ARE USINSTKE PHENOMENON TO TO IMPROVE THEIR MOTOR SKILLS BY MEMORIZING AND PIAYIN6 "MUSIC" WITH THEIR MUSCLES... CANADA SAFEWAY LIMITED APPOINTMENTS Directors of Canada Safeway Limited announced several top mannpraicirl ap- pointments to take effect with the retirement of Walter J. Kraft, Chairman of Ihe Board and Division Manager for British Columbia. Anthony G. Anselmo, Calgary, is promoted from Vice-President lo President. He remains Prairie Division Manager responsible for Company operations in Alberta and Saskatchewan. Mr. Anselmo grew up in Fernie. B.C., and joined Safeway, in ISM after attend- ing school there and Technical School in Vancouver. When the second World War broke out overseas he joined the RCAF and spent five years attached to (lie RAF. He is an avid supporter and participator in Calgary civic funclinns. Ho is Vice- President of the Calgary Stampede Football Club, a Director of Junior Achievement, a Council member of the Chamber of Commerce, a member of the Grounds Devel- opment Committee of the Calgary Exhibition and Stampede, an active member of the Calgary Rotary Club. He was appointed store manager in 1017, District Manager in Victoria in and Retail Operations Manager Vancouver in He Zone Manager Rcgina in 1903 nnd Prairie Division Manager in 19fi5. ANTHONY G. ENSELMO W. F. Griffiths, Winnipeg, President, becomes Chair- man of the Hoard. He remains Division Manager responsible for operations in Manitoba and Western Ontario. Thomas Milburn, Vancouver, is elected Vice-President and Director. In addition he becomes Vancouver Division Manager responsible for operations in British Columbia. David Toronto Division Manager and Vice-Presi- dent, is appointed to the Board of Kraft, who retires December :tlsl, remains a Director. The Hoard noted that all Directors and operating execu- tives of Canada Safeway Limited are Canadians. Mr. Griffiths has been Division Manager in Winnipeg since 1959. Mr. Milburn joined Safeway in 19117 and has been Store Manager, Advertising Manager and Zone Manager. Mr. Laub joined Safeway in 1929 as n food clerk in monlon, became Store Manager in District Manager in lilfiii and Rcgina Xonc Manager in In 19.T. he was given the responsibility for the Company's ojwrations in the United Kingdom and West Germany. In 19119 he was appointed Tor- onto Division Manager. R. G. Spelliscy, Vancouver, appoinlcd recently as Division Accounting Manager responsible for all accounting department operations in Canada. He joined Safeway in I93H in Begins, moved to Winnipeg in 1931 and to Vancouvcrjn I960. ;