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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 17, 1970, Lethbridge, Alberta Thursday, December 17, 1970 THE LETHBRIDGE HERALD 25 Fractional drop in stock prices TORONTO (CP) j were mixed to lower in slow mid-morning trad- ing today at the Toronto stock Prices NEW YORK (AP) Stock market prices continued to clirnb today in fairly active market. On index, industrials were down .08 to 170.89, golds .64 to 168.74 and base metals .28 to 88.06. Western oils rose .37 to 190.19. pvnhanffp Volume by 11 a.m. was shares, compared with ahead trading. Brokers said the mar- ket's resistance to profit taking attracted some new buying. The Dow Jones average of 30 industrial stocks was up 3.77 at 822.84 at noon. Prices on the American Slock included Imperial at513 at the same time Wednesday. Losses outnumbered gains 99 to 82 with 161 issues unchanged. Weakest sectors were mer- chandising and construction. Falconbridge was down to Noranda to Consumers Distributing to Sherritt Vt to and Pure Silver 15 cents to Cominco was up to Canadian Industrial Gas Vt to Bow Valley Vt to Shell Vt to Noble 25 cents to and Spconer 10 cents to S1.80. Among C a n a d i a n s on the NYSE, Distillers Seagrams fell 1 to Dome Mines dropped to and Canadian Pacific was down Vt at Up were International Nickel at nd Walker G o o d er h a m at On the Amex, Preston was up at MARKET STABLE MONTREAL (CP) The Montreal stock market was rel- atively stable in light trading today. ____ Livestock report Lethbridge Livestock On sale to 11 a.m. 130 cattle. Receipts mostly slaughter, trade active, good and choice butcher steers meeting im- proved demand at firm prices with odd sales to 29.90. Steers over pounds being dis- weight. Good and choice butch- er heifers meeting good de- mand at strong prices; medi- um and good cows steady to strong; medium and good stacker and feeder cattle sold readily at steady rates. Choice light steers, 29.24 to 29.80; good 28.50 to 29.25; medium 27 to 28.25. Choice heifers, 27.50 to 8.70, good 27 to 28, medium 25.50 to 26.75. Good COWS 20.50 o 21.25, medium 19 to 20.25, eanners and cutters 13 to 18 3oqd bulls 22 to 24.50. There were insufficient re- placement cattle or stock dves on offer to establish a larket. Hogs base price 21.15 Macleod Livestock A total of cattle and calves were sold in the week Feeder steer s and heifer were steady, slaughter and feed er cows 50 cents to lower. All weights of calves sold un of 29 28; good 26.75 to 27.25; good der pressure. A total cows 19.50 to 20.50; medium 18 slaughter carloads of steers 1, to 19; eanners and cutters 14 to 256 and pounds sold 29.4 Volkswagen car prices increased TORONTO (CP) Canadian prices for Volkswagens will in- crease an average of 1.8 per cent starting Jan. 1. The most popular model, the deluxe or "super mil be priced at an increase of or 2.7 per cent over the current In Germany, the company announced increases averaging 5.5 per cent. Palm Dairies auys firm CALGAHY (CP) Palm dairies Ltd. of Calgary has urchased Standard Dairy Co. f Sudbury, Ont. for an undis- losed price. "There's nothing big about he said R. L. Newstead, general manager of Falm- Sudbury firm which is ibout 4 years old needed new buildings and plant, and it was decided it should be sold. Plam operates 10 branches from Victoria, B.C., to Sudbury. Grain prices Winnipeg Grain WINNIPEG (CP) Trying continued light in all commodi- ties with prices on an easier pattern at mid-session on the Winnipeg Grain Exchange to- day Flax had a little exporter buying on the scale down with dght offers. Rapeseed was mostly a local and commission house trade with some exporter scale-down buying. Rye had a light local commission house trade some inter-month spreading. Oats and barley was limited lo a small domestic shipper trade with some wheat board hedge offerings in the Decem- ber barley. Wednesday's volume of trade was 1 bushels of flax, of rapeseed and of rye. Mid-session prices Flax: Dec. lower May lower 2.55TsA, July lower Oct. not open. Rapeseed Vancouver: Jan. 3% lower 2.96B, March 2, low- Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Rehouse and McCuaig) LAST BID OR SALE a.m. a.m. Quotes) a.m. WESTERN OILS Alminex Asamera Banl! 8P Oil Gas Can South Cdn Ex Gas Ashland Cdn Homestd Cdn In Gas Oil Cdn Super Cen Del Rio Charier Chielfan Dynamic Pete Gt Plains Will City New Cont 5.EO M.SO 13.00 5.60 4.60 4.05 9.00 6.70 11.50 37.75 10.75 6.00 ?.ao 1.20 32.25 1.70 Nu nac .70 1.34 1.12 .57 13.0C Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Soocner W. Decalta MISCELLANEOUS INDUSTRIALS Atco Ind 9.50 Aquataine 26.00 Brit Ntld 4.BO Cdn Pacific Inv 25.25 CPR Pfd Crowsnest Ind Cygnus A Cygnus a Cum Prop Home A Kaiser Res Kam Kotla L Ont Port Cem Mentor Newccnex Pacific Pete Rank Org Selk Hold Shell .rw Shell Inv Pfd Shell Inv Wts Sicks Rainier West Cdn Seed While Yukon CALGARY Acroll Ana Pete Barons Oil North Cont Plains Pete West Warner Madison Rexdale PIPELINE STOCKS Altao G T L A -9-25 7.25 Investors Grow 10.12 97 Invest Mutual 5.05 5.52 115 IOS Venture 3J1 3.J3 67 Mutual Accutn 4.79 Mut Grow F 4.17 4.S9 27.87Vj Mutual Income 4-62 5.08 Nat Resources 6.92 7.56 N W Finance 3.B2 4.10 N W Growln 4.53 4.98 N Equity 5.10 5.60 Principal Grow 3.62 3.97 Provident Mut 6.26 6.8J Rovlund 5.11 5.27 Uniled Accumu 4.36 4.79 Universal Sav 6-60 VANCOUVER .19VJ .16 9.67'.! 32.FO 32.50 13.00 2.75 3.50 15.75 1.10 .06'A Mining 34 Atlas Explora !d3 Beth Copper Bornite Ridge Block Brothers Brenda C Sugar Coking coal expert increase in 6.25 9.50 35.00 5.25 1075 Coronation Croyden 29.62V3 Dolly Varden Dynasiy Giant Mascot GraniEle Key Industries Hys Interior Brew Jericho Kamloops Copper Lornex Home B Home PitfJd Hud Bay Co Hud Bay Oil Hud Bav Pfd Husky Oil Husky Oil War Inier Prov Pipe Intl Uti! Pfd Inter Steel Pipe Jefferson Lake Joutel Inland Nat Gas North and Cent North Cent Pfd Gai Metro Trans Can Pipe 3-.12 Trans SS PPMPfd Trans Can P War 11.50 Westcoast Trans 19-75 ._ WetuTUAlC JfcdTSm t. i Minerals UM isssssrsu "'If AM si' US Pyramid Common Inter 7.10 Common Lev 2.83 3Hr''s nrpvfiisVGF US 11.02 12.0S Westcoast Res in cSth Equity 5.60 6.37 Western Explor S c-fouped In S 3.02 3.31 Utic. .63 13.62V3 .10 3.65 8.20 16.37' 3 1.10 1.10 .21 .19 5.SS 3.S5 10.00 .30 1.90 S.OO .08 10V; 6.25 .03 1.85 3.10 .18 .29 3-50 .Id .26 and and Toronto mines, industrials Supplied by Richardson Securities of Canada LAST! BID OR SALE Queues) a.m. Quofeil a.m. Quotes) MINES MllQO B.m. Acme Advocate Asb. Akaitcho Area Mines Belcher iron Black Bay Bralorne Brculan Bethlehem Brunswick Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mine Denison Mines Deer Horn D'Eldcna Dome Mines Donalda' Discovery Mines East Malartic East Sullivan Falconhridge Frobex First Giant Y-K. Gunnar Granduc Headway R.U. HolHnger Hud. Bay M-S Hydra Ex. Highland Bell Iron Bay Iso Joliet Quebec Kerr Addiscn Key Anacon Labrador Lake Shore .07 9.00 .47 1.50 New Imperial Noranda Northgate Opemiska Osisko Patino Pine Point Placer Dev. p.C. Exp. Quebec Man Rayrock Radicre Rio Algom Roman Corp. Silverfields Sherritt Gordon Silver Miller Steep Rock Siscoe Tck Corp. Texmont Uooer Canada We'slern Mines Wright Har. WHtroy 1.86 Darn Stores Dome Pete 8 00 Dotasco 9.45 Fam Play .34 Fd of Amer 29.12'A Gt Cdn Oil UO 2.01 22.50 2.42 1.53 9.65 .86 .15 61 Windfall .21 Yellowknife Br. 1.05 9.25 1.19 6.75 B.OO 36.00 19.00 -IB1 2.85 3.15 1.66 .211 8.90 .25 33.00 3.10 1.5.1 Zenma INDUSTRIALS Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust 29.00 30.50 1.91 2.40 1.75 6.20 .49 1.85 3.55 1.13 1.38 .13 4.75 .11 7.50. Good heavy feeder steers ver 950 pounds 29 to 29.60; good toek cows 21 to 23.50. Butcher ogs sold Thursday f.o.b. Letji-ridge at 21.10 to 21.20 base rice. Calgary Livestock CALGAEY (CP) Receipts o 11 a.m., 700 head, mostly laughter steers and cows, rade was moderately active. Slaughter steers sold fully teady to strong. Heifers were teady with no strictly choice ligh yielding kinds on offer. >ws sold fully steady with ales of good cows to 21.60. Bulls steady. Choice steers 29.25 to 30 respectively; pounds, 28.70. One load 831 pound heifers 28.80. Good cows 20 to 20.50 odd sales to 21; medium 18.50 to 19.75. Canners and cutters 14 to 17.30; good bulls 22 to 22.90; plain to medium 17 to 19.90. A total of 448 stackers and feeders, good heavyweight steers 29 to 31; lighter 32 to 33.50. stacker weights to 34.80; medium steers including hokteins 28 to 30; good feeder heifers 29.50 to 31.50; medium 27 to 29. Good feeder cows 20 to 23 sales on heavy kinds to 24.25. A total of calves; good steers 400 to 450 pounds, 39 to 41; medium and good heavyweights 35.50 to 38.25; good heifers 33 to 34 with lightweights and strictly choice quality replacements to 35.25; medium and good heavyweights 29 to 32; 584 stock cows and bred heifers; good quality 285 to 350 per head; medium 250 to 275; plain cows and lightweight bred heifers 190 to May Hi lower 2.80, July not open. Rapeseed Thunder Bay: Dec 1 lower April 1 lower June not open. Oats: Dec. unchanged 87A, May Vs lower July, Oct. not open. Barley: Dec. unchanged 1.28A, May lower Julv, Oct. not open. Rye: Dec. Vt lower 1.05, May lower 1.1214, Julv lower, Hogs 525: Hogs 21.35 to 21.70. (Wednesday's average Sheep and lambs nil. Prices Wednesday for class two wheat for export to countries outside IGA: 1 nor 1.83; 2 1.81; 3 4 1 durum 2 3 1.69V4; 4 IGA Prices: 1 nor 1 83 2 1.81; 3 1.7614; 4 1 durum 2 3 1.6914; 4 Grain quotes Wednesday (basis High Low Close Flax Dec 249% 246 246's May 257% 255 25614 Jly 258% 256% 257 Oct Rapeseed Vancouver Jan 30ns 295 Mar 290 2925s May 283 2B 281% Jly 2'1 Rapeseed Thunder Bay Dec 275% 272% 272% Apr 28US 281% Jun 27114 Oats Dec 87 May 88% 88V1 88% Jly 88V, Oct Barley Dec 128 12S May 129% 12914 129% Jly ,s Si-v s "rvsrers ss r I27.A DM Se. Vnen Mogul 10.00 Don, Bridge S SK. Neiv Yor Supplied by Richardson Amr T and T Wiontgom Wa Araconda 21.00 Sears u Bth Steel 18.00 SW Oil of M Chrysler 28." Texas Gulf romsat Texas Co. DuS lffi.51) Woolworth General Motors 79.2S WestlnghoUM Suit 30.121A U.S. Steel in" Harvester 27.50 TORONTO A Kenn Copper 38.50 20 Indust 17 futures WINNIPEG (CP) Trading was light Wednesday on the Winnipeg live beef futures market today, with contracts executed in the January future at current levels. There were bids in the March and May futures at 10 to 35 cenls above current levels, but no offers. No contracts were traded Tuesday. Open High Low Close Jan 2975 30.00 29.75 30.00B Mar 29.753 May M-553 Yachts burn GENOA (AP) Fire destroyed 13 luxury yachts on the Italian Riviera Wednesday and police were investigating the possibility of arson. Some of the joats were worth as much as authorities ATTENTION! FARMERS and STOCKMEN If You Want TOP DOLLARS for your LIVESTOCK Consign to PICTURE BUTTE AUCTION MART Ideally located in the centre of large tatlle feeding and hog raising futures WINNIPEG (CP) There was light trading on the Maritime potato futures market Wednesday with a contract in the April future at three cents below previous close levels. There were offers in the May future at three cents above current levels, but no bids. There wer no contracts negotiated Tuesday. j ,i'.'- 1 WO live Dec" 105'4 May 113Vi 111% 113 Jly 114% 113% 114% Oct 2.GOA Apr 2.75 2.75 May S.iiN earnings By THE CANADIAN PRESS Lofolaw Companies Ltd.. six SATURDAY, DEC. 19th at 1 p.m. 400 TO 500 HEAD All Classes of Cattle Hiqhliqhled by 100 HEAD OF HOLSTEiN STEERS 500 to 600 Ibi. 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 ant lion, often called the doodlebug, has the odd habit of walking 13 cents a share; 1969, 24 cents ACCOUNTING AND MANAGEMENT LTD. Data Processing Services 507 CANADA TRUST BLDG. TEtEPHONE Gen Motors Gt Lakes Pap Gulf Oil Cda Greyhound Hawker Sid Huron, Erie 14.75 Hiram Walk d-65 Imperial Oil 1-90 Imperial Tob 14.25 Nickel Inl Pipe Inv Gp A Int Utilities Indust Accept Latirentide Kelly Doug A toeb A Metro Stores Massey Fere. McMillan Bloe Moore Corp Moisons A Moisons B North, Cenl 13.50 Pembina Pp 9.25 Power Corp Price Co 45.50 Rothmans 17.00 St Law Corp 63.75 Shell CDA En Simpson's Simp Sears Steel of Can Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans can Pp Union Gas Union Oil 11.12'A Versatile Mfg 27.75 Westeel Union Car Wesion's B Woodward's A West Cdn Sd Zenith Elec BANKS Can Imperial ir.w Montreal 19.62V3 Nova Scotia 14.25 Royal 12.25 Tor-Dom 25.50 16.25 4.30 7.00 4.60 6.00 26.75 1.20 11.00 2.75 9.75 39.50 !3.25 10.SO 19.00 49.00 9.12V2 77.50 23.25 10.00 5100 3.70 81.25 1B.OO 19.50 13.25 1.90 18.75 40.00 19.B7V: 15.25 45.50 27.00 7.00 34.50 1475 a.oo 5.00 3.60 4.85 30.00 9.75 26.00 33.50 15.37'A 15.75 14.50 23.87'A 5.50 B.50 11.50 19.00 37.50 17.00 21.50 25.37VJ 9.75 27.50 10.25 19.25 34.25 15.50 42.00 3.15 13.75 19.25 17.25 3.40 1.20 19.87VJ 1-1.50 21.25 22.50 Ily JOHN 5I1KA OTTAWA The British Co- lumbia government's top econ- omist today predicted western Canadian coking coal exports will hit a rate of 50 million tons a year within the decade. That "is almost double prev- ious forecasts by industry spo- kesmen and at'today's prices of approximately a ton it represents a million an- nual sale equal roughly to the combined current value of all Canadian oil and wheat ex- ports. The prediction was made by J. R. Meredith, director of eco- nomics and statistics in tbe B.C. industrial development, trade and commerce depart- ment, during testimony before a Canadian transport Commis- sion tribunal here. The extended CTC hearings involve an application by Koot- enay and Elk Railway and Burlington Northern Inc. to build about 90 miles of track linking Sparwood, B.C.. with Hie BN1 mainline in Montana so up to nine million tons a year of coking and thermal coal could be shipped to U.S. buyers as well as to the Rob- erts Bank superport for export to Japan. The application has been for- mally supported by lawyers here representing both the B.C. and Alberta governments at the hearings. It is opposed by the Cana- dian Pacific Railway which currently operates unit trains carrying coking coal from the Sparwood area to Roberts Bank and claims the K and E- BNI bid would siphon away fu ture hauling contracts to the benefit of U.S. lines. Tbe applicants claim that the second route they would open up would increase export pros peris'for the coal mines in B.C. and Alberta by providing rail rate competition, expand- ing total transportation ca- Hlititis and ensuring acri- its didn't stop deliveries to port. .'lie CPR has countered that it can handle up to 20 million tons of coal traffic by expand- ing its existing facilities and is lo tlw United Kingdom, about 15 million to the Common Mar- ket in Europe and several mil- lion more elsewhere pos- sibly South America and you' arrive at roughly my 50 million ton forecast." he said. Included in Meredith's pro- icction lables were his com- orccasts of potential exports have suggested the traffic from the mountains to tidewater would be in the range of 20 to 30 million tons in about 15 years time. Under CPR cross examina- tion today, Meredith said he realized his forecast was much larger than anyone else's but ie stressed it was based on "exhaustive research1' in- cluding compilation of individ- ual coal companies' confiden- ial forecasts, foreign market surveys 'and the competitive wsition ot western Canadian coal. He said that many com- panies were underestimate Lheir likely sales while some might be overestimating but il was obvious that all "general overviews" of future possibili- ties were grossly underrated by a lack of correlated informa- tion. He said he took personal re- sponsibility for his projection of a minimum export of 46- million tons and maximum of 50 million tons by 1980 through B.C. customs points. "That roughly 50 million tons a he said under questioning about the destina- tion of the traffic. "Say about 25 million tons to Japan we're already con- tracted for some 12 to 13 mil- lion tons by 1973 with prospects of another 6 million being sign- ed soon so we're halfway there on that market already. 'Another 7 or 8 million tons additional shipments beginning 975; and finally possible addi- ional shipments beginning in They were: Scurry-Rainbow Oil Co. Ltd. at Elk'River, B.C.: 3 million .or.g tons; 1 million; nil: Fording Coal Ltd. at Elk River: 3 million: 1-2 million; nil- Crows Nest Industries Ltd. at 'Elk River: Nil; 2 million; Kaiser Resources Ltd. at Elk River; 5 million; 2-3 million; nil; Pacific Coal Ltd. at Do- minion block: Nil; nil; 4 mil- lion; Luscar Coals Ltd. at Car- dinal, Alta: 2 million; nil; nil; and at Mountain Park: Nil; nil; 2 million; Alberta Coal Ltd. at Car- dinal: Ml; 1 million; nil: Mclntyre Porcupine Mines Ltd. at Smoky River: 2 mil- lion; 3 million (No. 9 snd 2 million; Dennison Mines Ltd. at Tor- rens River: 2 million; 1 mil- lion; nil; Canmore Mines Ltd. at Can- more: .7-1 million: nil: nil; Coleman Collieries Ltd. at Coleman: 1.5 million: nil; nil; Scurry-Rainbow at Coleman: .7 million; nil; nil. In addition, current explora- tion in Alberta led him to pre- dict that by 1977 CanPac Min- erals Ltd. would be producing between 1 and 2 million long tons from each of its holdings at Panther and Isolation Ridge. 29.75 20 Golds 168.27 oil .1.11 7500 10 Base M 88.15 off .19 WM 15 Western 0 190.63 up .61 115.25 Volume 35.00 NEW YORK AVERAGES 6587'A 30 lndl'st m84 Up 3'77 29.67'A 20 Rails 158.41 up RASES 15 Utilities up .16 Up .31 65 Slocks 263.02 up 1.31 Crude oil price hike offsets cost CALGARY (CP) Dave Furlong, managing director of the Canadian Petroleum As- sociation, said Wednesday the increase in crude oil prices will only partially offset higher costs to producing firms. The increase is the first hi eight years for the industry, he Eftid in a news release, but in- flation, production cosls, ex- ploration and environmental problems have meant larger expenditures during the period. Tlie Canadian Petroleum As- sociation represents oil com- panies which derive most of their income from the produc- tion of crude oil rather than marketing or refining. Mr. Furlong took exception to comments by Neil Reimer, director of the oil, chemical and atomic workers union, who said the increase is detrimen- tal to Canada. Downtown 606-608 3rd Ave. S. Phone 327-5767 North Lethbridge 324 13th St. N. Phone 328-4441 Suggest Practical Gifts for Christmas from EVEREADY MAKE YOUR SELECTION NOW WHILE STOCKS ARE COMPLETE DONT FORGET BATTERIES .FOR BATTERY OPERATED TOYS CALL FOR FREE DELIVERYI EVEREADY BEG JIM CAMP LANTERN Complete with 731 battery, multi-pur- pose light for camping. Reg. 10.99 SPECIAL 7 ,99 Hog prices EDMONTON Prices to 11 a.m. supplied by the Al- berta Hog Producers Market- ing Hoard: Edmonton: Quoted 21.05 to 21.15, selling 21.15, average Wednesday 21.05. Red Deer: Quoted 21.05 to 21.10, selling 21.10, average Wednesday 21.02. Calgary: Quoted and selling 21.15. average Wednesday 21.16. Ixllibridgc: Quoted 21.10 to 21.10, selling 21.20, average Wednesday 21.10. Sows at all points 12.29. Total hogs sold to 11 a.m. 616. Total hogs sold Wednesday 509. Provincial average 21.06. DELTA POWER HEAD LANTERN Complete with 731 battery. Ideal for the car. Reg. 11.90 SPECIAL EVEREADY 101WB LANTERN Complete with No. 731 bat- tery. A weatherproof lantern for camping, boating and car. Complete with 731 battery. Ideal for the car. Reg. 12.50 SPECIAL S .95 EVEREADY NO. 950 FLASHLIGHT BATTERIES SPECIAL 2 for 52C EVEREADY NO. 60 MAGNETIC FLASHLIGHT OFFER Complete with 2-950 botttery. A tasteful de- sign magnet flashlight with chromebrite finish. Reg. 2.59 SPECIAL Not exactly as illustrated NEW EVEREADY 108 LANTERN Complete with No. 409 bottery made from a tough cordahide polyethylene. The lantern is waterproof and floats, complete with carrying strap. Reg. 6.57 SPECiAi.......... EVEREADY GALAXSE LANTERN (Complete with 731 bat- Itery. Canada's foremost camping lantern, com- plete with red flasher. Reg. 15.45 1O QC SPECIAL ALSO A COMPLETE LINE OF FLASHLIGHTS AND BATTERIES FOR ALL YOUR HOLIDAY NEEDS OPEN THURS. AND FRI. UNTIL 9 P.M. AND WED. AFTERNOON DEC. 23 Downtown 606-608 3rd Ave. S. Phone 327-5767 North-Lethbridge 324 13th St. N. Phone 328-4441 JUST SAY "CHARGE OPEN A CONVENIENT HOYT'S CHARGE ACCOUNT ;