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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - December 3, 1971, Lethbridge, Alberta Gold is dull in bright trade TORONTO (CP) - Gold issues moved moderately lower while prices in all other major sectors of the Toronto stock-market headed into their seventh consecutive advance in active mid-morning trading today. The industrial index was ahead .39 to 169.68, base metals .24 to 72.06 and western oils .26 to 199.10. Golds were dovra .67 to 145.78. Volume by 11a.m. was 621,000 shares, up from 609,000 by the same time Thursday. Advances outnumbered declines 132 to 93 with 172 issues unchanged. Real estate, beverages, food processing and industrial mining issues posted moderate advances as 13 of the industrial index's 17 sub-groups moved higher. Merchandising, pipeline, communications and chemical issues edged fractionally lower. Trading resumed in shares of Gordon Madtay and Stores Ltd. following a trading halt earlier in the week. The company is the subject of a takeover bid by Slater, Walker and Peoples De-p a r t m e nt Stores. Gordon Mackay B was up 5% to $2iy2 and Peoples 1 to $12'/i. More rose �4 to $35%, Aash-land Oil 1% to $liys. Ranger % to $12%, Falconbridge to S64%, Home A y2 to $28y2 and Supertest ordinai-y % to $62%. CP Ltd. dropped % to $12, Hudson's Bay Co. % to $17%, Cassiar % to $18 and Abitibi Vs to $6Vs. MONTREAL (CP) - Banks led the advance as prices dimbed higher in light morning trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exdianges at 11 a.m. was 237,300 shares, compared with 280,400 at the same time Thursday. On index, banks advanced 1.39 to 222.96, the composite .48 to 173.29, papers .46 to 72.31 and industrials .66 to 172.61. UtiUties slipped .58 to 147.34. On the Montreal exchange, Moore rose Ws to $36, Westcoast Petroleum % to $9yB, Falcon-bridge % to $643/4, Peoples De-paitoent Stores % to $12, National Trust % to $32 and Price % to $7. Noranda dropped % to $27%, Border Chemical to $8, Q.S.P. Ltd. % to $10, Interpro-vincial Pipe Ldne % to $28y8 and Soott-LaSalle y4 to $9y4. On the Canadian exchange, Belgium Standard advanced 1% to $16%, Anglo-Permanent Vz to $liy2 and Sintra % to $5% Bemcam International slipped y4 to .$5y2. NEW YORK (AP) - Stock market pries gams continued to mount for the seventh consecutive session in today's moderate trading. The noon Dow Jones average of 30 industrial stocks rose 4.09 to 852.88. Among Canadians, Granby was up % at $13%, Alcan % at $17y4. Dome % at $53y4, Mc-Intyre Vfe at $64%, Canadian Pacific y4 at $12y4, and Inco Va at $28%. Livestock Leth bridge Livestock (SuppUed by Canada Department of Agricultua-e) On offer Thursday 98 cattle and calves, 450 hogs, 121 sheep. Receipts mostly cows and replacement cattle. Trade active. The few good and choice st^rs aind heifers on offer met good demand at steady prices. All classes of cows met good de-meind prices 25 cents higher with cd HANOIE SUCH ^QgQJgg- possesseo oNCfBVAm// 30SS To obtoln oddr.,! 10 mif  (or ruilhor I, �ll.oddt.iilcl, nv.lop.loNtWIt/oConodoWld., 245 St. Jomm SI, W.. Monlr.1,1156, Coroda. wage earners no longer will pay income tax, those in slightly high brackets will pay less, the rich will face a capital gains tax for the first time, and businesses and corporations will face a blizzard of new tax rules. Prime Minister Trudeau was to cut short a'Toronto visit to be in the House today at 11 a.m. EST for the questiwi period. A spokesman said the reason was the situation in the House- which became unpredictable Thursday. Government House Leader Allan MacEachen defended the foreclosure, saying all the mam pomts of the massive bUl have been debated during "eight solid weeks" of parliamentary time. Transport Minister Don Jamieson said the snail's pace of debate so far-in which 191 of the 707 pages have been studied -suggested it would have taken another nine months to pass the bill. "That is too long to wait in ui-dscision in this country on such an important matter." SAYS EXPERTS STUMPED Conservative Leader Robert Stanfield said tax experts were buffaloed fay the bill even before the government brouglit in more than 130 amenfjments this fall. More are to be presented before Wednesday on the taxation of co-operatives and credit unions. Those measures have been sharply criticized by MPs of all parties, despite two revisions m October. "If this bill is passed in its present form, any one engaged in any kind of active life in this coimtry will need a tax expert at his elbow all the time," Mr. Stanfield said. House veteran Stanley Knowles (NDP-Winnipeg North C!entre) predicted "chaos, furore and ill will" would result from the government move. SPEAKER CRACKS DOWN By day's end, the prophecy was bemg fulfilled. Speaker Lu-cien Lamoureux, after a testy question period, threatened at one point to adjourn the House if order wasn't observed. Outside the House, Mr. Rnowles said: "It's a strange way to back into the CJmstmas spkit, isn't it? By the time this is done, this Parliament won't have the authority it ought to have." A brisk two-hour debate prior to the vote was marked by a constant crossfire of jibes and jeei-s as some of Parliament's finest orators delivered their views in 10-minute speeches. TRUDEAU SILENT Prime Minister Trudeau sat through it but did not speak, except to flick remarks across the green carpet that separates government and opposition. He grinned as former prime minister John Diefenbaker taunted him. The 76-year-old Mr. Diefenbaker compared Mr. Trudeau to Machiavelli, tiie medieval Italian political adviser "known for his craftiness." Mr. Jamieson, the next speaker, said Mr. Diefenbaker seemed to be speaking about himself when he mentioned Ma-chiavelli's deviousness. The 121-to-80 vote found New Democrats Max Saltsman (Waterloo) and Andrew Brewin (Toronto Greenwood) voting with 119 Libei'als. Opposed were 56 Conservatives, 14 New Democrats and 10 Social Credit members. Standing in the 264-seat Commons: Liberal 150, Conservative 72, New Democrat 25, Social Credit 13, Independent Liberal 1, Independent 2, vacant 2. MACDONALD SECONDER Mr. MacEachen's motion to invoke Rule 75-C, designed to allow government to limit debate when parties are unable to reach an agreement among themselves, was seconded by Defence Minister Donald Mac-donald, who had to use closure -House Rule 33-as House leader m 1969 to get the Rule 75-C passed. Moving that the committee stage of the 332-item tax bill, which is four inches tliick, be completed next Wednesday, Mr. MacEachen said to postpone decision would be to lend weight to criticism that Parliament was "mcapable of acting effectively and decisively." Mr. Stanfield, setting the opposition line, said Mr. MacEachen had vastly exaggerated the time the opposition has had to study the bill. It was intricate legislation and with the fall amendments added, no one really understood it. Five provinces had asked postponement of its implementation and Parliament had no idea what arrangements would be worked out with provinces on estate taxes and succession duties. CAN'T FORECAST "We do not know what Hnd of tax jungle is gotag to arise out of the stubborn persistence of this governmentin bulling ahead. . . ." NDP Leader David Lewis said another month or two was needed to deal adequately with the bill. The government was arrogant in setting a time linait. Money earns good, ^ safe interest in a Lombard North Central Deposit Account A Bank Deposit Account with Lombard North Central provides a good rate of interest, with complete safety for your capital - leading to financial peace of mind. Deposits at 6 months' notice of ^^^^ withdrawal can earn 6% ^KtB^f^ Interest per annum, but ^PTjm^ you can withdraw up � to �100 on demand ^Lv^iy during each calendar ^���^yoar. Interest is paid ^^^^ half-yearly without deduction of U.K. tax. TIME DEPOSIT ACCOUNTS: Deposits of �5,000 and over can earn higher rates of interest for / fixed periods. Details are available on request. Opening an Account is ' simplicity itself, so write now to the General Manager for further details and a copy of Deposit Account Booklet No. AO 516. On October 1,1971, in London by special Act of Parliament the business of certain companies in the Lombard Banldng and North Central Finance Groups (all wholly owned subsidiaries of National V\/est-minster Bank Limited) was transferred to Lombard Banking Limited, which as on enlarged and strengthened company then changed its name to Lombard North Central Limited. No action is required by any existing Depositors or Customers whose rights are preserved Intact and completely protected. Lombard North Central LIMITED Head OIIIco: Lombard Houaa, Curion Stroat. London W1A1 El), England. Tel: 01-499 4111 City Of flee: 31 Lombard St., London EC3, England. Tel:01-6234in Lombard North Central Limitedls� member of the National Wastmlnste*  Bank Group whose Capital and Resen/st exceed �329,000,000. SECOND CLASS STEAM ENGINEER Required for the operation of a Power House and related operating equipment at our Empress Gas Plant situated 60 miles north of Medicine Hat, Alberto, The successful applicant must hold or be eligible to obtain' an Alberta 2nd Class Steam Engineer's permit. This position is shift work on o forty-hour per week basis. An excellent benefit program Is offered and Company housing available for a married man. Reply In confidence to: Mr. I. P. Carroll, Employee Relations Assistant, PACIFIC PETROLEUMS LTD., P.O. Box 6666, CALGARY 2, Alberta. P.O. BOX 6666 CALGARY, ALBERTA TAX SHELTER PHYSICIANS - DENTISTS We will buy your present equipment at full original value and lease back. Think what you could do with the money you have tied up in your office. PROFESSIONAL SUPPLIERS AND ALLIED TRADE REPRESENTATIVES -THIS OFFER IS WORTH INVESTIGATION - TODAY Phone 328-5037 LETHBRIDGE or 823-5811, DRUMHELLER DAY OR NIGHT MONARCH LEASING LTD. Ste. No. 1006 - Board of Trade Tower 1177 - W. Hastings St. Vancouver B.C. ALL REPLIES HELD IN STRICT CONFIDENCE ;