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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - December 6, 1971, Lethbridge, Alberta Monday, December 6, 1971 - THE IETHBRIDGE HERALD -17 Toronto market posts advances Oil rigs drill on frozen tundra TORONTO (CP) - Industrial and gold issues climbed sharply higher as all sectors of the Toronto stock market posted advances in active mid-morning trading today. Analysts attribute the strong advance to investor speculation regarding the trade talks to be held between Prime Minister Trudeau and President Nixon later today. The industrial index was ahead 1.52 to 1/3.15 and golds 3.04 to 148.37. Base metals were up .12 to 72.40 and western oils .33 to 202.79. Volume by 11 a.m. was 700,000 shares, up from 621,000 at the same time Friday. Advances outnumbered declines by almost three-to-one, 180 to 65 with 161 issues un- Advances outnumbered declines by almost three-to-one, Hog prices EDMONTON (CP) - Average prices to 11 a.m. provided by the Alberta Hog Producers' Marketing Board. Edmonton: 24.60, average Friday, 24.97. Red Deer: 24.60, average Friday 24.94. Calgary: 24.50, average Friday, 24.69. Lethbridge: No sales today or Friday. Lloydminster: No sales today or Friday. Total hogs sold 1,244. Total hogs sold Friday 3,173. Average 24.85. Sows average 13.85. Hogs base price 24.50 EARLY MINERALS Coal in Nova Scotia and iron ore in Quebec were discovered and later mined in the 17th and 18th centuries. By Gene Fawcelte A SIMPLE ONE-MINUTE TEST CAN NOW DETECT MERCURY CONTAMINATION IN FISH AT SEA. A SAMPLE OFFISH, Nfi LARGER THAN A PINHEAP, PLACED IN A NEW INSTRUMENT, QUICKLY TELLS A FISHERMAN IFHI5 CATCH IS MARKETABLE WITHOUT FIRST HAVING TO RETURN TO SHORE... ,, WE EXPERIMENTAL PEVICE i WHICH MEASURES MERCURY IN PARTS-PER-3IWOAI REQUIRES NO PREPARATION OF WE SAMflCE. 3QST � } obtain addr.ti to writ, for furthor Information, t�nd itamp.d, lelf-oddr.ti.d, nvelopo to NEW! c/o Conoda Wid*. 243 St. Jamot SI. W., Montreal 126. Canada. 180 to 65 with 161 issues unchanged. Pipeline, industrial mining, merchandising, real estate and general manufacturing issues posted broad advances as 11 of the industrial index's 17 subgroups moved higher.. Banking, oil refining and food processing issues edged fractionally lower. Nova Scotia Light and Power was up 2% to $12V4. The Nova Scotia government has offered shareholders $13 a share, in a takeover bid. Falconbridge was up 1% to $697/s, Maclean-Hunter VA to $18, Sherritt % to $13, Inco % to $30%, Supertest ordinary % to $63% and Keeprite Products % to $ioy4. Pine Point dropped Vs to $22%, CP Ltd. % to $12'/4, Asbestos Corp. % to $25Ms, Bow Valley Yb to $26V4, Cygnus A % to $5Vi, Dcfasco JA to $21% and Husky Oil % to $16%. LIGHT TRADE MONTREAL (CP) - Industrials and utilities led moderate advances in light morning trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 319,300 shares, compared with 237,300 at the same time Friday. On index, industrials advanced 1.48 to 176.38, the composite 1.35 to 176.56, utilities 1.20 to 149.73, banks .59 to 224.24 and papers .54 to 73.64. Highlighting gains on the Montreal Stock Exchange, Nova Scotia Light and Power rose $2% to $12%, Falconbridge $1 to $70 and Newfoundland Light and Power $1 to $11. Up % each were Inco at $30%, Interprovin-oial Pipe Line at $28% and Westcoast Transmission at $24. Among declines, Royal Trust dropped ]A to $38%, Dominion Textile % to $18% and Imasco % to $18%. On the Canadian Stock Exchange, James Bay Mining gained two cents to 22 cents on 61,000 shares traded and RRD Ltd. rose % to $5%. S and L Diversified dropped % to $8% and Belgium Standard % to $16. PRICES SLIP NEW YORK (AP) - Stock market prices, after shooting ahead at the start today, slipped back as mild profit taking developed. Trading v/as active. The Dow Jones average of 30 industrials, ahead more than 8 points earlier, was up 3.58 at 863.17 by noon. Advances on the New York Stock Exchange led declines by 3 to 1. Among Canadians on the NYSE, Dome Mines gained 1% to $54, Distillers Seagrams gained % to $56V4 and Granby Mining rose % to $14%. Mc-Intyre Porcupine was down 1 to $69. On the Amex, Scurry Rainbow Oil was up y4 to $14%. Off V* were Brascan Ltd: at $17% and Molybdenite Cain at $1%. CALGARY (CP) - The oil exploration game is back in motion, thanks to the northern Canadian winter. The frozen tundra in the north has enabled oil rigs to move into position for winter exploration programs worth more than $100 million. Main centres of activity are the Mackenzie delta region and the Fort Norman area in the Northwest Territories. Oives $46.9 billion Canada has big debt with U.S. Livestock report Lethbridge Livestock AFTERNOON SALE Calgary livestock CALGARY (CP) - Receipts or the Calgary livestock market to 11 a.m., about 400 head; practically all good and choice slaughter steers and cows. Trade was active. Slaughter steers were steady, heifers scarce and steady with no strictly choice kinds, cows mostly medium and camner kinds at steady prices. Bulls were steady. Choice slaughter steers 33.50 to 33.90, good 32.35 to 33.25, medium 31 to 32. Good to low choice heifers 30.25 to 31.70, medium 28.75 to 30. Good cows 22.50 to 23.25, medium 20.50 to 22, canners and cutters 17 to 20. Good bulls 23.50 to 25. Insufficient replacement cattle or stock calves offered to establish a market. Imperial Oil Ltd. has scheduled an ll-well program, three of which are scheduled to spud in the next few days. Drilling in the delta, which will keep five Imperial rigs active this winter, will take about $17 million of the company's $40 million frontier budget for the 1971-72 winter. In the Fort Norman area, where Imperial has been pumping oil since 1920, at least 11 wildcats have been Ucenced for drilling this winter. It is expected the Fort. Norman area could account for twice as many wells in the next five months as were drilled in the last two years. Operators now involved in the Fort Norman flurry are: Atlantic Richfield Canada Ltd., four wells; Western Decalta Petroleums Ltd., two wells; Amoco Canada Petroleum Ltd., Aqui-taine Co. of Canada Ltd., Canadian Delhi Oil Ltd., Imperial and Standard Oil Co. of British Columbia Ltd., one each. The Canadian Association of Oilwell Drilling contractors rig activity map shows 145 rigs drilling, 23 rigs moving, and 148 lying idle of the 321 rigs available for work. This is more than three times the number active last May when drilling slipped to a 14-year low of 37 rigs. Alberta leads with 105 drilling followed by 22 rigs now drilling in northern Canada. The Meekwap area 30 miles northwest of Whitecourt and the foothills region along the east slope of the Rockies are the most active areas in Alberta. OTTAWA (CP) - Canada's gross indebtedness to the rest of the world amounted to more than $46.9 billion at the end of 1969, about three-quarters of it owed to the United States, Statistics Canada reported Thursday. But offsetting the gross indebtedness, Canada had foreign assets totalling $18.8 billion, about half of them in the U.S. The figures are contained in a new 187-page analysis of Canada's international investment position since the old Dominion WANTED! 2 Positive Thinking Salesmen Who are not afraid of hard work in a young, growing industry. Potential unlimited. All company benefits. FOR APPOINTMENT CONTACT: MR. ERNIE KOVACS SIDORSKY'S MOBILE HOMES LTD. Grain prices Winnipeg Grain WINNIPEG (CP) - The rapeseed market was as much as three cents lower at mid-session on the Winnipeg Grain Exchange today. Following the trend of the Chicago soybean market, which is down nearly two cents, the rapeseed futures were on a trend to lower prices The main activity came from U.S. houses selling the nearby and buying the deferred fu tures. Other commodities were quiet with extremely light trading. Friday's volume of trade was 1,535,000 bushels of flax, 392,000 of rye and 1,453,000 of rape-seed. Mid-session prices Flax: Dec. % higher 2.36%A, May unchanged 2.46V4, July higher 2.49A. Rapeseed Vancouver: Jan. lower 2.61VzB, March 2% lower 2.63^B, June 2V* lower 2.62 Vs. Rapeseed Thunder Bay: Dec. % lower 2.447/sA, May lVfe lower 2.53%A, July 1% lower 2.54A. Oats: Dec. Vt higher 64% May \'s lower 67%B, July un changed 67%A. Barley: Dec. % higher 1.06%A, May % higher 1.09, July not open. Rye: Dec. % higher 95%A May % higher 1.01%, July Y* higher l.VZVtB. Dividends By THE CANADIAN PRESS B.C. Sugar Refinery Ltd. common 20 cents (plus extra of 20 cents); pfd. 25 cents, both Jan. 31, record Jan. 7. MAJOR PART Fresh and processed fruits and vegetables account for more than one-third of the quantity of all food consumed in Canada. 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 Eight provinces plan hike in automobile insurance TORONTO (CP) - Automobile insurance premiums in eight Canadian provinces are expected to increase by an average of 4.8 per cent in 1972, indicated premium changes computed by the Canadian Underwriters Association show. Net earnings By THE CANADIAN PRESS Bowes Co. Ltd., nine months ended Sept. 30: 1971, $546,135, 90 cents a share; 1970, $580,382, 96 cents. B r e n d a Mines Ltd., nine months ended Sept. 30: 1971, $488,000, 11.4 cents a share; 1970, figures unavailable. Canadian Javelin Lid., nine months ended Sept. 30: 1971, $1,024,025; 1970, $1,024,010. Craigmont Mines Ltd., year ended Oct. 31: 1971, $2,924,000, 58 cents a share; 1970, $5,289,000, $1.04. National Drug and Chemical Co. of Canada Ltd., 40 weeks ended Oct. 5: 1971, $434,000, 56 cents a share; 1970, $132,000, 36 cents. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE (11:00 a.m. Quotes) (11:00 a.m. Quotes) (11:00 a.m. Quotes) WESTERN OILS Hud Bay Oil 43.25 Mutual Ac Hud Bay Oil Pfd 53.00 Mutual Gr F Hugh Russell 19.62�>, Abltlbi .26'/2 Alcan 41 Algoma Steel 7.50 Atco Ind 1.60 Atlan Sugar 3.75 Agra Indust 6.00 Bell Tel 34.00 Brazil Trac 4.50 Dom Stores .30 Dome Peta 7.25 Dofasco .21% CAB 15.50 .' Amer 22 37Vi �t cdn 0,1 �no Gen Motors s3 Gt Lakes Pap , Gulf Oil Cda Greyhound Hawker Sid Huron, Erie INDUSTRIALS HlVl Hiram Walk Tj,,. Imperial Oil "WW Imasca 0* Int Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laurentlde Kelly Doug A Loeb Loblaw A Metro Stores 051/, Massey Ferg McMillan Bloe 2.26 4.70 .37 1.60 2.25 Moore Corp Hudson Bay M-S 17.37'/j B.C. Tel Hydra Ex, Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langls Silver Madsen R.L. Malartlc G.F. Martin McNeely Maclntyre Meta Mldrlm Intern Mogul New West Home New Athona New Calumet W Horse Copper Noranda .16 3.05 1.13 .25 6.60 .13 33.75 2.30 Burns B.C. Forest B.C. Sugar Bow Valley CAE Ind Cdn Brew Chemcell Cal Power ,.,, Coron Credit .05V2 CWN Gas � Cdn Indust 55 Canada S S 07'/2 Cdn Marconi 46.75 Cdn VIckers .09 Chrysler .11 CPR 7.05 Comlnco 7.621/j Cons Bath .12 Cons Gas .19 Dlst Sea New , ,, Dom Bridge ''5 Domtar 29.00 Dom Textile Pfd Molsons A Morons B "*T� Norlh, Cent '�T, Power Corp �-T4 price Co ,'i�9 Rothmans ft-T.. St Law Corp IJ-IS* Shell CDA Simpson's "'5 simp Sears Steel of Can Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans Can Pp Union Gas ,, .,, Union Oil iVm Versatile Mf9 Westeel Union Car 2T Weston's B Woodward's A West Cdn Sd li'ifvb Zenl,h Elec 6.121/1 BANKS 19.87V2 Can Imperial 28.00 Montreal 20.75 Nova Scotia 11.25 Royal 18.25 Tor-Dom 17.00 18.25 26.00 4.60 6.50 4.40 26.50 1.00 14.00 29.00 21.75 12.37V4 66.75 4.70 80.75 15.87Vi 25.00 14.75 2.20 25.00 38.87'/2 30.00 18.75 30.00 27.75 7.50 40.87V2 19.75 10.50 5.50 3.40 5.25 14.50 10.25 23.37V2 36.00 17.12V2 16.50 14.25 4.90 6.87'/2 14.25 19.50 35.37Va 21.50 26.50 23.87Vi 16.25 34.50 15.75 .20.50 35.75 13.871/j 42.00 3.10. 13.25 12.75 16.00 23.00 .4.85 2.15 24.25 17.62V2 30.62'/! 26.50 28.25 New York stocks Amr T and Anaconda Beth Steel Chrysler Comsat Dupont GM Gulf Int arvesler Kenn Copper (Supplied By Richardson Securities of Canada) T 41.12V2 Sears 14.121/2 Std Oil of N.J, 26.121/j Texas Gulf 28.121/2 Texas Co 59.871/2 Wlckes Corp 143.25 Woolworth 96.25 20 Golds 148.01 up 2.68 71.50 10 Base Met 72.54 up .26 113.37'/2 15 W Oils 202.92 up .96 34.621/j Volume 1,374,000 49.50 NEW YORK AVERAOIS 49.621/2 30 Indust 863.17 up 3.58 80.62'/) Westlnghouse Elec 89.12V2 20 Ralls 233.42 up 1.71 U.S. Sleel 28.00 15 Utilities 111.45 off .35 22 62W TORONTO AVERAGES 65 Stocks 298.36 up 1.19 Montgomery Ward 31.75 20 Indust 173.32 up 1.69 Volume 9,760,000 Chevs called in for engine work French drug report PARIS (AP) - Interior Minister Raymond Marcellin reports that $180 million worth of narcotics has been seized in France since August, 1969. Marcellin wrote in a magazine article that a new emphasis on combatting the drug traffic had resulted in the arrest since then of 988 drug pushers, including 39 international drug smugglers. OSHAWA, Ont. (CP) - General Motors of Canada Ltd. is preparing to notify owners of certain Chevrolet vehicles to take them to GM dealers for installation of restraints to limit the listing of the engine should an engine mount separate. The installation will be made at the company's expense, a GM spokesman said today. The notification may involve owners of about 600,000 1965-to-1969 regular-size Chevrolets and Novas, as well as 1967-to-1969 C a m a r o s and certain light trucks and other vehicles with similar V-8 engints. Only vehicles with V-8 engines are involved. If vehicle operation should be affected by engine-mount separation, the company said, the driver should turn off the ignition key and brake the vehicle to a stop, the spokesman said. General Motors will begin notifying owners by mail as soon as current owners' names can be obtained from company dealers or provincial registration records. The restraints still have to be tooled, manufactured and. delivered to dealers. It is anticipated that the restraints should be available at dealerships in the latter part of February. MAJOR EARNER The sale of cattle and calves in Canada contributes more to farm cash receipts than the sale of any other single farm commodity. LUTEFISH AVAILABLE AGAIN STAR MARKET 401 2nd Ave. S. Phone 327-4393 The Ideal Christmas Gift! FIREPLACE TOOLS & ACCESSORIES We have a complete stock of all styles and finishes! A GOOD SELECTION OF DRY BIRCH AND CEDAR FIREWOOD cord 17.251 CEDAR per V* cord 12.25 ORDER EARLY CHARGEX CRESTLINE BUILDERS MARKET LTD. "LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;