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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 10, 1970, Lethbridge, Alberta prospect in sight for steel strike TORONTO (CP) 1] hinted 1 YELLO W KNIFE, N.W.'I (CP) A plan must be 37 Jamie Development should not be downgraded because it was re 3 sponsible for bringing 'belle s transportation services tc northern people. But there should not be development a any price. "We cannot sit back am allow the north lo be raped." Mr. Jamieson said this kiny profit taking Tuesday. The Associated Press 60-stock .verage rose .2 to 276.8. Volume was only moderately ctivc. Prices on the NYS15 included Jnion Oil Co. of California pre-erred, off 1 at Exp Gas C'J Rank Organ ii.75 t.'ut Grow Fd -4.1? Ashland 45 Shell Inv 37.00 Mut Income 4.67 i Cdn Home 75 shell Inv Ptd 37.00 Na! Resources 6.95 7 will remain at a high level in 1971 but there is no prospect of a steel strike as there is in the United States, a business conference was told Wednesday. "We had a strike last year and 1 hope we won't have to go through that said H. M. Griffith, president of the Steel Company of Canada. "The contract runs until August, 1972." Optimism was expressed by officers of some of Canada's argest corporations at the annual business outlook conference sponsored by the University of Toronto business department. Over-all, opinion was unanimous that 1971 will be a better year on almost all counts than 1970. There were some worries. The jobless rate was seen as not likely to average less than six per cent in 1971, declining slightly from the high of almost seven at present. Although significant, price inflation was expected to be less than in 1970. A sharp acceleration in growth rate was predicted, including a nine-per-cent increase in gross national to allow Canadians t share the rewards as well a the costs of developmenl Transport Minister Don Jamie son said Wednesday night. He told 270 delegates at In closing banquet of the Arcti Transportation Conference tha while government cannot ex pcct every single facility to paj for itself from the start, mor emphasis must he placed o sharing the costs and the re wards of development. A policy should be developec to let the taxpayer get a returr from successful development as well as leaving him alway to shoulder the cost. The concept would involve more study but could be done perhaps along the lines of cur rent federal government in volvement in Panarctic Oil; Ltd. Ottawa has a 45-per-cen interest in Panarclic, which is searching for oil and natura gas in the Arctic Islands. Referring to regulations to protect Arctic regions, Mr Jamicson said (hat if com panics cannot live with the rules "they should get out.' The comment was greeted with Super 3 CO Sicks Rainier tJW Growth -i.6l 5 Cent Del Rio 1 Wesl Cdn Sd 3.40 "W Eouity i.53 5 Charter CO White and Yuk 15.75 P'lncl Growth 3.6J 3 Chiellan 40 rat rADV Provid Mut 6.17 6 Dynamic Pel. 18 "LGARY Roylund 5.10 5 3" S'clinen. VANCOUVER IJnrth Tiln nil tn i-Om AnuK .IV Nnmw WMl Warner Arctic Minino. .1; Madison .22 Atlas Explor .5i Rcxdale .11 Bethlehem Cop KfG'as 1 HCin i'l 1 ilSXr Inland Nat Gas 10.M B-c- pl Grain prices WINNIPEG (CP Fairly heavy liquidation pressure in rapeseed and prices fell off one to seven cents a mid-session on the Winnipeg Grain Exchange today. Both Vancouver and Thiin der Bay rapeseed positions set tied into a local and commis sion house trade with libera hedge offerings as exporters light buyers on the scale-dowi pattern at the open, appeared to pull out of the market. Flax had a continued light mixed trade with locals am commission houses on both sides of the market. Hedge of ferings wero heavy with all futures slightly lower. Trading was improved in oats and barley where the de-iirand by domestic shippers buying for eastern feeders, increased and fractional gains v.'ere posted. Rye continued practically inactive with a little exporter buying on the scale-down and some inter-month spreading. Wednesday's volume of trade was bushels of flax, of rapeseed and of rye. Flax: Dec. 1W lower May Ui lower July 'A lower Kapeseed Vancouver: Jan. lower 2.WsB, March We lower 2.3HiA, May IVe lower Rapeseed Thunder Bay: Dec., April not open, June 1 higher 2.68HA. Oats: Dec. unchanged 87A, May Vt higher July higher Barley: Dec. unchanged 1.28A, May higher L29ViA, July not open. Rye: Dec. Vs lower May lower 1.13, July Vs lower Prices for Class Two wheat Jor export to countries outside IGA: 1 Nor 2 3 4 1.71; 1 Durum 2 1.78VJ; 3 1.69-U; 4 IGA prices: 1 Nor 2 3 1.765s; 4 1.71; 1 Durum 1.8114; 2 3 4 1.65'A. High Low Close Flax Dec 252% 249V'8 252 May 258% 261 Vi Jly 261 K 259 261 llapcseoil Vancouver Jan 298 'A Mar 2847i 277'A 284% May 270% 265Ts 270i'a Uapcsccxl Thunder Bay Dec 263% 261% 263% Apr 269'A 27214 Jun 268 Oats Dec 37 May 88% 88 Vi 88% Jly Barley Dec 128 127% 12S May 129V4 129 _ 129 Rye Pec 106 May 11514 11314 1I3S Jly rates are unjustified." The ministry of transport had met with underwriters in London, England and would bring them to Canada. Surface transportation would be supported by development of air-cushion vehicles. Studies were under way to build lower-cost roads in Newfoundland which could be applied to northern settlements. The development of a corridor for transportation along the Mackenzie River valley was an essential part of the development of surface transportation. Policy for the north was an evolving kind of thing and government could not be expected to develop an end-all policy for all times. Mr. Jamieson said the time has come for policy makers to evolve a sensible and specific northern air transport policy. Northern air policy had been an appendage of regional air policy for far too long. He said the federal government will work to provide airstrips, upgrade navigational facilities and change air regulations to meet the needs of the north. But tliis would not mean a free-for-all expansion of northern airlines because over-expansion is as detrimental as the lack of Decal 6.25 c" ctorchlifcopper Wo MISCELLANEOUS IIS CrestWook For In 5 M INDUSTRIALS Trans CaJ Ploe Croyden .22 Atco Indus 950 can pipePfSoo Dolly Varden .39 Aquatame 2i.M Tram r'an P Pf A 66 25 Dynasty 5, (5 Brit Nfld Corp 4.80 Trns Can Pipe war oi Giant Mascot 3 .so Cdn Hyd Car 15.25 praf e Pips 0 00 Granisle Cdn Pac Iny 25.00 V'estcoast Trns 20.25 Growers B 300 CPR Pld 9.25 Western Pacific 4.90 Hy's 2.25 Cygnus A 5.37ij MUTUAL FUNDS Inter Brewer 5. CO Cygnus B 5.75 AGF Special 2.34 Kamloops Copper 13 Cum Prop 13.50 At! Co'n Com 6.83 7.J2 Lornex 4.40 Home Oil A 77. All Cdn Divid 7.69 8.62 Madrona Home Oil B 27.50 All Cdn Vent 2.24 3.54 New Imp Mines 2.CS Home and Pit 1.75 Amer Grow Fd 4.BO 5.27 okanagan Heli 300 Hud Bay Co Can Growth 5.30 5.E7 Primer Hud Bay Oil 34.12V2 Cdn Invest Fd 4.36 4.79 Silver Standard 1.35 Hud Bay Oil 5' 00 Collect Mut 5.57 6.11 Texmont Huskv Oil 13.75 Cmnwlth Inter 11.40 12.49 Troian Husky Oil War 7.25 Cmnwlth Lev 2.86 3.13 Wes era Mines 3.15 nlcr Pro Pipe Corp Invcsl 507 5-54 V.'eslcaast Res ntor Steel B Co Cr In Slock Fd iM 4.85 West Explor .a> Ml Lake sn Drey Fd U.S. 11.00 12.05 Utica Toronto mines, industrials Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Ouotesl m-.m ..m. a.m. Acme !SS. ir S >'-8 .Sf S3 S Are' Mines V65 Patino- G. Cdn Oil 365 :S --f, Bralorn- ,.45 Quebec Man .27 oil Cda 18.37' Broulan" P-C. Exp. .71.. Greytound 13.12 Bethlehem 13.50 Rayrock 1.21 sid 1.95 Brunswick 4.30 Huron, Erie Is. 37' Canada Tung. 2.06 Hiram Walk Central Pat. imperial Tob Chimo 1.57 oi.verf.elds 200 Conwest 9.80 Sherritt Gordon 16 ,7V, ,6 Cons. Rambler Steep Rock 2 35 A 6 Coin Lake .16 ,nt utilife 35.62 Cochenour .41'.j Tek Corp. 6.10 MIK> Accep, Craigmont 8.40 Texmont 6.00 Dickenson Mines 1.20 Uoper Canada 2.06 5 Denlson Mines 22.50 Western Mines 3.25 "W UOU3 j D'Eldona 1.13. .Wright Har 1.10 75 Dome Mine. 58.00 Willroy 1.38 Wa.v A Donalda .21 Windfall .13 ......y Fero 9.B7' israarr" i5 %s East Sullivan 4.65 INDUSTRIALS Faiconbridge 141.00 Abitibl 6.00 Frofccx .22 Aican ii.n ii 75 First Maritlmts 1.05 Algoma Steel 13.37li J' 2350 Gain) Y.K. 9.10 Atco Ind 9.50 2H! Gunnar 1.16 Allan Sugar 7.50 Power Crp 5.25 Granduc 6.35 -Bell Tel 4S.50 ,S.S' Headway R.L. 9.00 Brazil Trac 16.37V, Hollinger 35.62'., B c T am St Law Corp 19.00 Hud. BayM.S 20.00 7.B7Vj Shell CDA 32.00 Hydra Ex. .9 Rr 35 00 Simose-- 17-50 jaw- yiff1 'SHIP i! Joiiel Quebec .21 "n Brew 713 TBXacn Kerr Addison 9.25 J: Traders Gp A 9.50 Key Anacon .25 Trans Mtn Pp 19.25 Labrador 33.37 ,1 Trans Can Pp 34.75 Lake Shore 3.10 Unlm 15.131 Leilch 1.53 Union Oil 41 Langis Silver Versatile Mfo 3.40 Macassa 1.10 Canada S S 27.00 9 Madsen R.L. .77-. Cdn Marconi 2.75 u c 137S Marlartic G.F. .80 Cdn v.ckers 9.75 B Martin McNeely 10.50 Chrysler 28.25 A Maybrun .15 CPR 67.M w cdn M 3 73 Maclntyre 149.00 Cominco 31.75 ,j Mela .1315 Cons Bath 11.00 Midrim .29 Cons Gas 18.87Mi BANKS IT-JET New Atfiona .14 Domfar 1-US Nova Ecolj8 20_5f) New Calumet .77 pom Textile 12.00 Royal 22.50 New Imperial 2.10 Dom Stores 9.50 Tor-Dom New York stocks Supplied by Richardson. Securities of Canada Amer T and T 47. CO Montgom Ward 30.00 30 Golds off .It Anaconda 20.75 Sears 75.25 10 Base Met 88.75, off Beth Steel 21.00 Std. Oil of NJ. 72.00 15 West Oil 188.45, off 1.64 Chrysler 27.75 Texas Gulf Volume Comsat SO.CO Texas Co. 3175 NEW YORK' AVERAGE! Dupon! 126.50 Woolworth 34.50 30 Irtds BIB. 32, up 3.0S Gen Motors 78.1 !Vb Westing Elec 2B.75 70 Rails 157.33, off .1! Gulf 29.75 U.S. Steel 30.12V; 15 Util 118.16, U.C. Int Harveslnr TORONTO AVERAGES 65 Stocks 261.70, up Kenn Copper 20 Inds 172.23, up .13 Volume futures WINNIPEG (CP) Trading was moderately active on the Winnipeg live beef futures market Wednesday with contract completed at prices ranging from 15 points below to H points above previous close levels. Tuesday's volume was 21 trades'. Opcu High Low Closr; Jan 29.45 29.45A Mar 29.10 29.20 29.10 29.20B May by forei TORONTO (CP) Foreign investment capital has no nationality and becomes "naturalized" soon after it enters Canada, Robert Bonner, executive vice-president of MacMil-lan Bloedel Ltd. said today. In a speech to the Empire Club, the former British not gn capil lumbia attorney -general said western Canadian industry, at least, has found that "vast amounts of capital from a number oE sources, including the United can be absorbed without harming Cana-dianism or Canadian control. "I further believe that ;al we attempt to apply simplistic tests of nationality to capital, we not only jeopardize investment and the obvious benefits which flow from it. but also we embark on a course which couples bureaucratic intervention at home and invites protective reaction he said. "In these circumstances disruption of the functioning machinery of the free capital market place becomes inevitable. This is an experience which Canada would be wise to avoid." Mr. Bonner said any influence of government bureaucracy on the "normal ebb and flow of capital across the borders" probably could not be confined to foreign capital. "Inevitably, this screening process will result in discriminatory judgments against one body of investors in favor of others and will invite retaliation against Canadian businesses striving to enjoy the benefits of international trade or m u 1 1 i national operations in other countries. Canada does have problems with the "extra-territorial application of U.S. laws and regulations" and a way must be found to ensure that Canadian companies, no matter where their owners reside, are subject to Canadian law "insofar as their Canadian operations are concerned." "Canada needs lo encourage the development of an international community of thought in which business decisions can be made multi-nationally. Free capital movements are part of that community. "By allowing capital to move freely across our borders we do more for Canada's national independence than by throwing up nationalistic barriers to because new capital holsters our e c o n o m i Oil gas find encouraging LONDON (CP) Lord chairman of Home Oil of Canada Ltd., says he is more han encouraged by the com-lany's latest natural gas find n the Yorkshire area, where it >reviously discovered two ma-or wells. Home Oil, working In partnership with the National Gas Council of Britain and the British Petroleum Co., announced Tuesday that its new well at Malton showed a prelimin a r y test flow of 13.2 million cubic feet a day at the wellhead under pressure of pounds a square inch. "That is Beatty said in an interview. "It is also very convenient since it is only five miles southeast of our Yorkshire processing plant at Pickering." Home Oil made a big name for itself in the world gas hunt when it discovered Britain's first major land-based gas the two wells in the Lockton area in Yorkshire, each capable of producing 35 million cubic feet of gas a day. Now tlic company, working in partnership with BP and the gas council, is planning to t rill three more Yorkshire wells in the next few months. Under the partnership, Home Oil retains 50 per cent of the joint operations, with BP and the gas council holding 25 per cent Calgary Livestock CALGARY (CP) Receipts today to H a.m., 600 head, mostly slaughter steers and cows. Trade moderately active. Slaughter steers sold fully steady, heifers were report selling at fully steady prices, over-finished steers and heifers under pressure. C6ws were steady with most of the better cows going as feeders. Bulls steady. Choice steers 29.50 to 30.40, good 28.25 to 29.25, medium 26.50 to 28. Choice heifers 28.25 to 29, good 27 to 28, medium 25.50 to 26.75, medium to good cows 18.50 to 20.75. canners and cutters 13 to 18. Good bulls 21 to 24. Replacement cattle sold to a good local demand at steady prices. Stock calves were scarce and selling steady. Good feeder steers 750 pounds up 29 to 33, good feeder cows 18 to 22.30, good stock steer calves 37.50 to 40.25, sales to 41. Good stock heifer calves 31 to 33.75. Hogs base price 21.85 to finger at meats ami cereals TORONTO (CP) Dr. Robert E. Jervis, a professor of chemical engineering at the University of Toronto, said Wednesday meats and cereals may be more significant sources of mercury in the human diet than fish. Speaking during a seminar at the university, Dr. Jervis said that "the relatively high consumption of meats and cereals suggests that the total intake from such foods could be higher than from fish." He said that while average intake of mercury per person is below the suggested limit, it is high enough to warrant quick action against mercury sources in the environment. Me suggested the government do more monitoring of mercury levels in foods. A hopeful sign is that the average Canadian has no more than three to four parts per million of mercury in his body compared with the 200 parts per million required to suffer harm, Dr. Jervis ACCOUNTING AND MANAGEMENT LTD. Data Processing Services 507 CANADA TRUST BLDG. TELEPHONE 328-7883 budget coming Deiit o EDMONTON (CP) Cities and their taxpayers face the dilemma of a growing demand for services and a lack of revenue, Mayor Ivor Dent said Wednesday. Warning the city's 1971 bud-gel will be Mayor Dent, president of the Canadian Federation of Mayors and Municipalities, said citizens must learn there just isn't enough money available for all the services they demand. The citie's only hope is that senior levels of government will re-apportion taxes to give them a better break but "things like that take time." He welcomed Premier Harry Strom's announcement the provincial government plans to set up a commission to study municipal and provincial financing. The city will also plead its case before the Commons-Senate constitutional I HERE ARE A FEW 1 CHRISTMAS I W 1 s litiiil! Chmlmai H Regular Special I SPARE TIRE COVER 9.90 8-50 K I 12 VOLT COFFEE PERC. 16.95 12-95 FARMERS and STOCKMEN If You Want TOP DOLLARS for your LIVESTOCK PICTURE BUTTE" AUCTION MART Ideally located in the centre of large cattls feeding and hog raising area prices EDMONTON (CP) Prices to 11 a.m. supplied by the Alberta Hcg Producers Marketing Board: Edmonton: Quoted 21.80 to 21.90, selling 21.85, average Wednesday 21.95. Hed Deer: Quoted 21.75 lo 21.80. selling 21.75, average Wednesday 22.02. Calgary: Quoted 21.85 to Ct.90, selling 21.85, futures WINNIPEG (CP) There was trading in all futures on the Maritime potato futures market Wednesday with prices generally steady. There were 17 trades completed Tuesday. Open High Low Close Mar 2.65 EPIDEMIC PORT MORESBY (AP) Public health men in Australian Guinea are preparing to fight a new battle against an influenza and pneumonia epidemic. AJI epidemic last year tilled at least village y PROPANE DETECTOR ALARM 2.75 will hold a hearing and children in W'- 1 1 g (12 volt) MAGAZINE RACK BTU (With Thermostat) I! CAMPER STABILIZERS (CniGIVie) p f! CRAIG STEREO CARTRIDGE K (8 Track) 5J PREBCO CARRIES A COM PARTS AND A 1 DREE I 600 4th Avc 5, West of Gas 69.00 -4.90 3.95 g K. 105.00 95.00 8 ulr 49.00 39.00 eai No sales, average Wednesday 21.90. Lloydminsier: No sales, average Wednesday 21.25. Sows at all points 13.05. To-al hogs sold to 11 a.m. 497.1 Total hogs sold Wednesday Average 21.94. New Guinea and an officially estimated in Indonesian West Irian. Now a new cpi-lemic appears to be gathering pace in the Morobe district of Australian New Guinea where 1 000 are reported ill so CAREER An Edmonton based public company requires an ambitious and eneraslir C.A, or equivalent to develop and maintain comprehensive programs of internal audit and accounting procedures to integrate with a relatively new E.D.P, department. COMPENSATIONS j Excellent opportunity to advance lo a senior management position in an expanding organization. Salary open depending upon experience and qualifca-tions with a full range of fringe benefits. Apply in strict confidence lo: MR, BOB BURTON 1 Phone 328-5626, Lelhbridge to arrange DEC. 12th at 1 p.m. 400 TO 500 HEAD All Classes of Cattle Highlighted by 50 FEEDER STEERS 700 TO 800 IBS. from cwner 35 RECONDITIONED CALVES from one owner Alio 300 TO 400 WEANER, FEEDER HOGS AND BROOD SOWS FOR FURTHER INFORMATION CONTACT PICTURE BUTTE AUCTION MART JOE or JIM JURIS Phone 732-4400 or 732-4468 Pictun Bull. 69.80 PLETE LINE OF TRAILER f CCESSORIES A 1 nue North Company SPECIAL ONLY f Friday al 12 noon PLUS iic CAR unti! "oon Mon> A MILK Beny Automotive Enterprises Ltd. Contact Boris Koreshenkov, Rep., Avii Rent a Car j 2nd Ave. and 8th St. S. 327-0665 ;