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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 13, 1971, Lethbridge, Alberta Mendrv, T3, 1971 THB tETHBRIDO! HfRAlD IS Gold stock prices drop; others up TORONTO (CP Gold is- sues plunged sharply lower while prices in other major see- tore of the Toronto stock market climbed Uglier in active mid- morning trading today. The industrial index was up .62 to 174.80, base metals .11 to 74.15 and western oils 2.9-1 to 207.92. Golds were down 2.14 to 143.24. Volume by 11 a.m. was shares compared with at the same time Friday. Advances outnumbered de- clines by more than two-to-one, 136 to 07, with 164 issues un- changed. Beverage, industrial mining, ge n e r a I manufacturing and steel issues moved higher as 10 of the industrial index's 17 sub- groups posted advances. Banking, food processing, real estate and trust and loan issues drifted fractionally lower. Dome Pete was up Hi to Occidental Pete to Kaps Transport to Inco to Moore to and Mattagami to S25. Mclntyre rose to Rio Algom to Sherritt to Rank to and Supertest ordinary to Trans Canada PipeLines dropped "s to Bank of Montreal Vn'to S177s, Numac to Canada Packers !'i to Falconbridge !i to MONTREAL (CP In- dustrials and papers advanced in light morning trading on the Montreal stock market today. C o m b in c d volume on the Montreal and Canadian slock exchanges at 11 a.m. was shares, compared with at the same time Friday. On index, industrials ad- vanced .98 to 178.24, papers .30 to 73.18 and the composite .56 to 178.49. Utilities declined .39 to 150.79 and banks .49 to 228.48. On the Montreal exchange, Dome Petroleum rose to Hudson's Bay Oil SI to Consolidated Bathurst to Distillers Corp-Sca- grams Lid. H lo and Cominco :is to Canadian Arena dropped 3i to Bombardier >1 to Bank of Nova Scotia U to and Noranda v-t to 530. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dohcrly, noadliouso and McCuaig) LAST DID OK SAMS motes) ..m. Uuolcs) a.m. Quoits] WESTERN OILS V.S. pay, price board criticized 5.35 17.25 11.75 6.20 5.05 NEW YORK (AP) Stock market prices climbed as in- vestors were heartened today by some encouraging monetary and fiscal developments. Trad- ing was active. The noon Dow Jones average of 30 industrial stocks was up 3.50 at 860.25. Among Canadians on the big board, Mclntyre Porcupine was ahead 2 at and Walker Gooderham gained to Canadian Pacific, Dome Mines and International Nickel were all up V4 at and Genslar Lid. and Massey-Fer- guson both lost to and On the Amex, Preston and Scurry Rainbow Oil rose to 57 and respectively, while Canadian Javelin lost Hog prices e EDMONTON (CF) Aver- age prices to 11 a.m. provided by the Alberta Hog Producers' Marketing Board. Edmonton: 25.65, average Friday, 2fi.0fl. Red Deer; 25.50, average Fri- day, 25.50. Calgary; 25.55, average Friday, 25.71. Lethbridge: No sales, aver- age Friday, 25.47. Lloydminster: No sales, av- erage Friday, 25.15. Total hogs sold fi.lfi Friday, 3.395. Average 25.79. Sows av- erage .1400 AGENCIES APPOINTMENT Almlnex Alia East Gas Asamerii Ashland BP Oil GO! Can South Cdn Ex Gas Cdn Homestd Cdn Home Pfd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charier Cfileftan Dome Pete Dynamic Pete Gt Plains Gt Cdn Oil Lochiel Mill City New Cont North Cdn Oil Numac Pan Cdn Pete Pan Ocean Permo Petrol pinnacle place Gas Ponder Ranger Scurry Rain Spooner Selbons T.I Total 6. Ulster I- West Decalla 7. Pele MISCELLANEOUS INDUSTRIES Aquataine Hud Bay Oil Hud Bay Oil Pfd Hucih Russell Husky Oil Husky Oil B Husky Oil War Inter Prov Pipe Inter Prcv 5teel Kaiser _ 15.B7VJ Lake Dufault 9.25 .68 5.10 B.15 31.00 6.05 12.62V 15.25 11.00 MGF Manilla Pacific Pete Sicks Teledyne West Cdn Seed White Yukon CALGARY Acrnll Barons Oil North ConT West Warner -51 PIPELINE STOCKS AHa Gas Tr L A 09.50 Alfa GdS Tr L Pfd 75.00 Alia Nat Gas 31.00 75 Invest Mutual Mulual Ac 17 Mutual Gr F 16.00 Nat Res 4100 N W Fin 650 N W Gr 13.37V2 Principal Gr 7 50 Royfund 1.95 Temp Gr 11 25 United Ac 200 Universal SflV 27.87W Unlvest 75 Vanguard 4 75 VANCOUV 5.33 5-75 5.72 5.63 4.88 5.37 fi.53 7.14 4.39 5.47 6.01 4.00 4.40 5.48 5.70 5.09 5.54 5.24 5.76 1002 10.98 Arctic Mining Atlas Explnr t Bath Norse B rend a Churchill Copper Croyden Dankoe Dolly Varden Dynasty Fort Reliance Giant Mascot Granisle 2 Kamloops Copper 5.65 .33Vi !C8 IA Lyttm Mineral! pflmer pyramid standard 6.95 .irlnci Cdn Brew A Cdn Brew B Cdn Pacific Im Crowsnest Ind Cyanus A Cygnus B Genstar Home A Home B Hud Bay Co N and C B Pfd 1.03 Gaz Metro 5.50 .76 Gaz Metro Pfd A 66.00 12.12Vj Tr Cdn P 15.37V3 Tr Cdn P Pfd B uo Tr Cdn P Pfd A fii.50 9.00 Tr Cdn P War -rrotatl 6.15 WC Trans 2-1-50 Valley Copper 1M MUTUAL FUNDS WC Rns .05 Great Pacific AM 4.EB INDUSTRIALS AM Cdn Com 8.02 8.67 Block Bros 3.10 All Cdn Divid 8.95 9.78 B.C. Sugar All Cdn Vent 350 3.82 B.C. Suaar Pfd 16.25 Amr Gr F 6.05 6.64 Capt Inter 6.00 AGF Special 2.64 Crestbrook F Ind 3.25 Cdn Invest F 4.58 5.02 Hys 2.90 Col Mutual 5.90 6.47 Inferior Brew 3.75 It 00 Cmnw Inter 12.E8 14.15 Inter Mariner .O l.t 25 Cn-.nw Lev 3.27 3.59 okanagan Helicop 5.62'. 537'A Corp Invest 5.41 5.9? Pacific W Air 11.00 Corp In SI F 4.75 5.19 Stampede Intl Res 1212Vb Dreyfus F U.S. 12.04 13.19 OILS 59 V> Gr In Shares 3.26 3.59 Albany Oils 2925 Gr Equity 6.01 6.60 Plains Pete Invesl Gr F 10.71 11.71 West Explor NEW YORK (API While Ihe effectiveness of the Pay Board and Price Commission were debated by United States government officials and indus- try leaders last week, the Price Commission granled Ihe largest U.S. steel producer a much smaller price increase than was expected. The commission gave U.S. Sk'cl Corp. an average price in- crease of 3.0 per cent. However, the commission dismissed a product-by-product considera- tion for nricc increases and said lh'v company could increase some items more and some less as long as it maintains a 3.0- pcr-cent average. Livestock report 35-00 6.00 30.50 35.50 Lethbridge Livestock AFTERNOON SALE Calgary livestock CALGARY (CP) Receipts on the Calgary Livestock Mar- ket to 11 a.m., about 225 head; mostly slaughter cattle. Trade was strong and active. Slaughter steers sold seady, quality and condition conider- ed; heifers were fully steady to strong; cows were mainly mo .69 Increases labelled unrealistic EDMONTON (CP) In- creased food and clothing lowances for welfare recip- ients announced Wednesday by the provincial government are unrealistic, Ellen Thomp- son, president of the Humans on Welfare Society of Edmon- ton, said today. Mrs. Thompson said in an in- terview the three-per-cent in- creases are not a valid reflec- tion of higher costs because up- to-date cost-of-living figures are not taken inlo consideration. The increases are based on a review of 1970 costs and they are too late in coming." FORCED TO WAIT The revision starts Jan. 1 but people on welfare have to wait until their annual social allow- ance review to take advantage of the increase. "If that review happens to be in November, the program then two years behind as far as the recipient is Mrs. Thompson said. The society would continue lo press for assistance in other areas which would allow wel- fare recipients to use food and clothing allowances for that purpose only, instead of having to "borrow" from them to meet other expenses. Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE nft -lire OOHL) MINES a.m. QUOTES) a.m. Quoles) NELSON ELLSWORTH Scliwarli Agencies Ltd. ure pleased to announce the ap- pointment of J. Nelson Ells- worth lo tlirir Rrnl Estate unlps staff. Nelson carno to lethbridga from Si. John N. R. in 1967. Ho is a graduate of tha Uni- versity of New Brun-iwirk cind was Recreation Super- visor for tfio City of U'th- bridcje ond ho ptoascd lo real needs with his many arqiionilanccs. matriod find (in1, child and looks fo to cm rnjnyablp nl Scliwmtz iness Phono 32S.3331, idence Plinnn 327-273S. Bus- Res- COLLEGE MALL Scrap law on piracy LONDON (Renter) Britain announced recently that it will abolish the death penalty for piracy on the high though it hasn't been bothered by the problem lately. Home office junior minister Mark Carlisle told the House of Commons the government in- tended to scrap an 1837 act which established execution as a penalty for piracy "as soon as the opportunity occurs." Britain abolished capital pun- ishment for murder almost two years ago and later did away with it for acts of arson in royal dockyards and arsenals. When it abolishes hanging for piracy, the only crime punisha- ble by death in'Britain would be wartime treason, a home office spokesman said. ACT..- Advocafe Ash Akaitcho Bralornc Broulan Bethlehem Brunswick Canada Tung. Cassiar Central Paf. Chimo Con west Cons. Rambler Coin Lake Cochenour Dlckenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Dcnalda Discovery Mines East Malartlc East Sullivan Falconbridge Frobex Firs) Maritlmes Giant Y.K. Bovis Granduc Headway R Hollinger Hudson Bay AVS Hydra Ex. Iron Bay Joliet Quebec Kerr Addison Koy Anacoti Labrador Iafce Shore Langis Silver Madsen R.L. Malarllc G.F. Martin McNeely Macintyre Met a Mldrim Intern Mogul New West Home New Athona New Calumet W. Horse Copper OpemiskB 8.00 22V'z Osisko -22 1.60 Patino 1550 .37 Pine Point 53.00 1 56 Placer Dev. .29 P-C. Exp. .5-1 1675 Quebec Man .09 2 36 Rayrock l-O? 1 51 Radiore .21 18.l2Vj Rio Algom 15.50 1 Roman Corp. 5.60 1 35 Shsrritt Gordon 70S Silver Miller .04 1 Strep Rock ?.M .10 Tck Corn. 4.S5 .Jl Texmont 39 95 Upper Canada 1.63 8! Western Mines 2.31 22 '0 Wriphl Haroreaves 1.15 '04 Willroy -78 -08 YeHcwknife Bear 57.50 .07 INDUSTRIALS Done Pete Dofasco CAS Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Greyhound Hawker Sid Huron, Erie i Hiram Walk imperial Oil Imasca Int Nickel Int Pipe Inv Gp A Int Utilities Induct Accept Laurentide Kelly Doug A Losb Lnblaw A Stores 71.75 Altjoma Steel .77Vi Atco Ind. .45 Allan Sugar 7.35 Agra Indust 1.60 Bel! Tel jl.fO Brazil Trac 5.00 B.C. Tel 33.00 Burns 19 "7Va B.C. Forest 16 B.C. Sugar Bow Valley CAE Ind Cdn Brew Chemcell Massey Ferg Ifl oo Mc.W 12.67V; Moore Corp f. Molsons A B North, Cent Power Corp Joe 3.10 1.15 .20 7.00 Nor nda Northgate Norlex .16 Col i 34.00 Cal Power 2 30 Coron Credit 05 C.W.N, 62 Cdn indust .55 Canada s S Cdn Marccni 79 00 Cdn Vickers 09 Chrysler .ll'.'z CPP. 7.15 Cominco 7.75 Cons Bath .10 Cons Gas Disl Sea 1.70 Dom Bridge 30.00 Domfar 4 40 Dom Textile .26Vj Dom Stores 6.PO n.5o .15.00 18.CX) 67.50 12 50 18.00 1P.75 37.00 6.50 2.90 Price Rolhmans St Law Copr Shell CDA Simpson's Simp Scar s Steel of Can Stlklrk A TCXPCO Traders Gp A Trans Mtn Pn 1 CO Can Pp 11.01 Union Gas Unicn Oil Versatile 2 70 Westeel 10.50 Union Car 29.00 Wesgon's B 1! 50 Woodward's A West Cdn Sd 675 Zenith Elec BANKS 39 25 Can Imperial 20.37l'i Montreal 1075 Neva Scotia Royal U.25 Tor-Dom 31.37'A 23.00 12.87V'i 66.00 7B.50 17.25 2-J.75 1.J.75 7.30 24.25 39.50 30.50 18.00 29.00 29.25 7.50 40 37Vi 19.25 10.00 5.50 3.jO 5.12'A li.75 10.12V3 22.75 17.62V? 17.25 14.25 5.00 6.75 U.50 19.50 35.12'A 20.75 27.50 2J.B7'A 16.50 35.00 15-50 20.25 36.00 14.75 42.00 3.30 13.50 12.67VJ 16.62V2 23.00 AM 2.10 25-00 18.00 30.50 29.00 29.25 United States car owners dium and canncr kinds.wilh nil grades steady; bulls were steady. Choice slaughter steers 33.75 lo 34.10. good 32.50 to 33.50, me- dium 31 to 32.25. Choice heif- ers 31.75 i.O 32.20, good 30.50 to 31.50, medium 29 to 30.25. Good cow-s 22.50 to 23.30, medium 20.50 fo 22, canncrs and cut- ters 17 to 20. Good hulls 23.50 to 24.80. Insufficient replace mcnt steers, heifers or stock calves were offered to establish market. A few good stock and feeder cows sold steady 21 to 25. Hogs price 25.55. get efunds DETROIT (AP) About three million Americans who have purchased new cars since Aug. 15 can expect a Christmas bonus averaging around each-or a total of about million. But Santa Claus may be a bit late in delivery. President Nrxon signed a tax bill here that included repeal of the Second World War-vintage sevcn-per-ccnt excise tax on new cars. The repeal applies retroac- tively to all new cars pur- chased since the president ini- tiated his wage-price freeze Aug. 15. The paper work required lo send refund cheques to buy- ers, combined with the Christ- mas postal jam, may delay many rebates until the New Year. But Ford Motor Co. said here that its approximately new car buyers will begin gelling refunds immedi- ately at Hie rate of to a day. The tax is based on the ve- hicle's wholesale price and is paid directly by the manufac- turer to the 'government. Bond market pulls out f slump Amr T i Anaconda Beth Steel Chrysler Comsat Dupnnt GM Gulf Int Hai New York stocks (Supplied By Richardson Securities of Canada) ,E OB 50 Golds U4.33 Off 1.05 M37'A Texas Co 31.62Vi Volume 1.386.000 m'7R V'irkp- Corn 5250 NEW YORK AVERAGES iSra Woolworlh i 30 Must 860.35 up Tl'.m'i Weslinghouse Elec B9.12V, 20 Rails 253.01 up .50 !i-75 US Steel Utilities 111.89 up .15 !SlErr ll'87'4 TORONTO AVERAGES 65 Slocks 300.21 up .79 3l'.62ll 20 Indus! 1M.95 up .77 Volui By Gene Fciwcetle SCHEDULED TO BE THE VOPLDS FIRST PERSONAL RAPID TRAN- SIT SYSTEM, ASfiOUPOFSMIL, ELECTRIC, RUBBER-TIRED VEHICLES WILL SOON RUMON SUIDEWAYAT WESTVIRSINIAU. THE AUTOMATEDTAXIS" WILL CARRY UPT08 PASSENGERS M30JWPH.., Grain price review Winnipeg Grain WINNIPEG (CP) seed prices moved Rape- ahead slightly on a light volume of lo- cal and commission trade at mid-session on the Winnipeg Grain Exchange today. Prices in that commodity were as much as 3i higlier than previous close levels. Other commodities were barely active. Volume of trade Friday was bushels of flax, 000 of rapeseed and of rye. Mid-session prices Flax: Dec. higher May -Is lower July higher 2.49A Rapeseed Vancouver: Jan- higher March high- er June higher Rapeseed Thunder Bay: Dec not open, May 'i lower 2.475BA, July not open. Oats: Dec. unchanged 64'A, May unchanged 67ViA, July not open Barley: Dec. unchanged 1.07A, May unchanged 1.0814, July not open Rye: Dec. lower May Vt. lower l.ooVzB, July not open. Israelis to pay reward HAIFA (AP) The Israeli government is going to pay reward lo a blind Argen- tine who claimed he gave the Israeli secret service the infor mation that led them to Adoli Eichmann. The decision ended a 12-year fight by Luther Herman 70, of Buenos Aires. He said he discovered Eichmann's identity in 1959, when his daughter wa dating the son of the Nazi war criminal, spirited from Argen tina and executed by Israel in 1962. MOVING UP The United States is rapid! overtaking Britain as the majo source of foreign investment i Australia. Dividends By THE CANADIAN PRESS Alberta Gas Trunk Line Co. Lid., class A common 37'.2 cents; series C 41i per cent pfd. scries D 5% per cent pfd. all Feb. 15, record Feb. 1. Rrilman's Canada Ltd., com- mon 7'.'2 cents, class A TA ccnls, both Feb. 1, record Jan. 15 DECISION NEXT YEAR Tlio Presbyterian, Methodist and CongiTpalional churches of Australia will decide next year to nifrpe. DEPARTMENT OF INDIAN AFFAIRS AND NORTHERN DEVELOPMENT BAND MANAGER REQUIRED Ermineskin Bond Hobbcma, Alia. QUALIFICATIONS FINANCIAL AND GENERAL AD- MINISTRATION UNDERSTANDING OF INDIAN ACT AND ABILITY TO WORK WITH INDIAN PEOPLE. GEN- ERAL KNOWLEDGE OF SOCIAL PROGRAMS, TENDER- ING AND CONTRACT PROCEDURES FARMING AND RANCHING. INTERESTED APPLICANTS SUBMIT LETTER IN OWN HANDWRITING TO: SECRETARY ERMINESKIN BAND, CCi' 219, HOBBEMA, ALBERTA, NOT LATER THAN DECEMBER 28, 1971. PLEASE INDICATE EDUCATION, WORK HISfORY, PRO- VIDE REFERENCES AND SALARY REQUESTED. INTERVIEWS WILL BE HELD FOLLOWING CLOSING DATE OF APPLICATIONS. FOR FURTHER INFORMATON CONTACT THE ADMIN- ISTRATOR HOBBEMA, PHONE 585-3790. TORONTO fCP) After a nid-week slump, the Canadiai ond market rallied in the fina ession as prices closed un hanged to fractionally higher Yading was moderate. On the week, the short end o lie market was higher by abou ivc cents, long-term issue? :ained about one-eighth poin nd both mid-term and corpo- ate issues were unchanged. Day-to-day money, availabli Jonday at 3'i per cent, cie- lined to three per cent Friday lirec- and six-month trcasurj lills were traded Friday at 3.3 md 3.35 per cent, respectively. Figures released this week bj Vood Gundy Ltd. show a :line in bond financing for th lonlh of November when ccir iared to the same period la? vcar, but the 11-month total wa .igher this year. Bond financin or Ihe month of November thi rear totalled S597.289.30S, dow Tom last, yea mt the 11-monlh total higher than las year's The commission explained Its ction was meant to give the ompany "flexibility" in pricing ertain products. Industry ob- ervers said Ihe ruling meant .S. Steel could increase prices 3 much as eight per cent or ine per cent on certain key teel products. U.S. Steel had no rc m e d i a t e comment on its lans. Two weeks ago U.S. asked the commission for an .G-fwr-cent price increase on "ertain prodccts. Although ever officially Identified, they vere believed to be sheet metal Aims. In other actions this week the rice Commission approved a 'ariety of coal price increases hat in some cases were only ibout half of what the produc- ers asked for. The commission had warned he coal companies they vouldn't be allowed to pass on customers all of their 15-per- :cnt first-year wage-and-benefi! abor contract settlement ap- proved by the Pay Board. Carl E. Bagge, president of he National Coal Association, called the commission decision 'shcrt-sighted." Bagge asked the commission o re-examine its decision and said if it didn't, toe ruling might be appealed through lira courts. Labor Secretary James D. Hodgson said the administration lad known it would have to ac- cept large wage increases ir coal, aerospace, railways and several other industries at the outset of Phase II. Henry Ford II, chairman of Ford Motor Co., sharply criti cized the Pay Board and Price Commission for helping to cre- ate a "depressing" uncertainty that was holding back the eco- nomic He said the early decisions of le Pay Board present a "real sk" ihat the program could reduce a profit squeeze that ould cndcrmine 1972 economic growth. In other developments last eek, U.S. Commerce Secretary iaurice Stans said the Soviet nion wants to cbmplete long- ;rm contracts for the sale of atural gas, oil, chrome, titan- urn, tin, timber and other ources lo the United States, CP application hearings resume CALGARY (CP1 A Cana dian Trans port Commissio hearing reconvenes Tuesday o an application by Canadian Pa cific Ltd. lo purchase a 50-per cent interest in Commcr c i a Solids Pipe Line Co. of Toronto Eight sulphur oil companie, and the governments of Albert and Saskatchewan are oppoi ing the application. Comme: cial solids, controlled by She Canada Ltd., is researching 11 pipeline movement of sulphu but has no immediate plans construct a sulphur line. The hearing first opene here in late October and journed Nov. 2 after six day Montanan proposes farm front EDMONTON fCP) A Can- .ida United .States agriculture ederalion was proposed here o delegates attending the an- nual meeting of Unifarm, an organization which represents Alberta fanners. I propose a confederation o( agriculture which recognizes .he common cause of the Al- >erta and Montana farmer- rancher, the Canadian and Am- erican said Clyde Jarvis, president of the Mon- ,ana Farmers' Union. "We speak the same lan- guage and now let's start say- ing the same things. "If we can do that our people will listen, our governments will listen, and our voices will be heard in the world market- place of agriculture, where our prices are made." Mr. Jarvis said that political power is required before any impact can be made on the ag- riculture marketing field. "We in agriculture must uni- fy not only in our small areas, but also internationally as grow- ers and governments." Rose to fame NEW YORK (AP) David Sarnoff, 80, an immigrant mes- senger boy wlio became founder of the National Broadcasting Co and bead of the giant RCA Corp., died at his home here. A LOT OF HONEY EDMONTON (CP) Produc- tion is estimated at 22.8-million pounds of honey from Alberta's nearly bee colonies in 1971. Present prices average 17 cents a pound. time to splurge! Business Opportunities Be Ihe proud owner of one of North America's fastest growing and most profitable small businesses. EXCIUSIVE ELECTRONIC TICKET OPERATED MAYTAG STORE MINI-MAGIC STORE LEATHER SUEDES FURS Feolurina Speciolrred and Conventional Drycleoning We assist you in LOCATIONS PLANNING TRAINING FINANCING Our Representative will bn In your City on TUES. ond WED. Dec. 14 and 15 ot the El Rancho Motel Call him for an appointment LiNLAND EQUIPMENT SALES LTD. TORONTO WINNIPEG CHRISTMAS SPECIAL .95 PONG TABLES Regulation tin S' T 9'. V heavy duty interlocking base. porta board tops, CHRISTMAS SPECIAL YOUR CRESTLINE BUDGET i DOWN PAYMENT SUHDERS MARKET LTD. V ETHkiqbGE'S INDEPENDENT BUILDING SUPPLY HEADQUARIERS" Phonei 327-5444 or 327-5110 ;