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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 18, 1970, Lethbridge, Alberta Friday, Docombor 18, 1970 THE LETIIBRIDGE HERALD 25 Stock prices dip in light trading TORONTO (CP) Prices were m i x e d to fractionally lower in light mid-morning trad- ing today at the Toronto stock market. On index, industrials were down .17 to 171.33 and golds .78 to 167.93. Base metals rose .03 to 88.21 and western oils 1.28 to 191.93. Volume by 11 a.m. was shares, compared with at the same time Thursday. Gains edged out losses 95 to 92 with 165 issues Weakest sectors were banks and merchandising. Beverages and pipelines made sharp advances. Among declining issues, Zell- ers was down Vz to Cana- dian Imperial Bank to CPR Vs to Inco to Northern and Central Gas to Placer Vi to Asamera Vs to United Bata 10 cents to and West- ern Decalta 10 cents to Acres rose 1 t o Dome Pete 1 to Monenco Vz to Seagrams to Sherritt Vs to Pure Silver 10 cents to Kerr-Addison 10 cents to and Siebens five cents to MONTREAL (CP) Gains and losses were small as the Montreal stock market was sta- ble in all sectors in light trading today. On index banks gained .20 to 175.14 and utilities .05 to 149.07 while industrials slipped .16 to 149.07, papers .32 to 90.33 and the composite index .08 to 170.22. Combined volume on the Montreal and Canadian Stock Exchanges to 11 a.m. was shares, compared with shares the same time Thursday. Calgary Power lost to CPR Vt to S67Y4 and Shell Canada Vt to Canada Hydro gained to Texaco Canada to and Rio Algom to Among speculative issues on the Canadian Stock .Exchange, Mount Laurier Uranium de- clined five cents to Du- mont Nickel Mines five cents to 70 cents and Guardian Mines three cents to 40 cents while Williams Creek rose two cents to 70 cents and Mount Jamie was up one cent to 30 cents. NEW YORK (AP) Stock market prices were little changed in moderate trading today as the market continued in a consolidation phase. At noon, the Dow Jones aver- age of 30 industrial stocks was up 0.07 to 822.22. Advances clung to a small lead over declines among issues traded oh the New York Stock Exchange. Volume was running slightly behind Thursday's pace. Analysts said the market ap- peared to be following a tradi- tional pattern of readjustment in an over-all upward phase. Among C a n a d i a n s on the NYSE, down were Canadian Pacific at and Dome Mines at Genstar Ltd. was up Vi at On the Amex, Jupiter Corp. was up at and Scurry Rainbow Oil was off at prices Winnipeg Grain WINNIPEG (CP) Rape- seed prices developed some strength on moderate trading at mid-season on the Winnipeg Grain Exchange today. Fair exporter buying emerg- ed along with some commis- sion house demand. Gains of up to 2V'2 cents were posted. Other commodities had only light trade with most futures on an easier price pattern. Thursday's volume of trade was bushels of flax, of rapeseed and of rye. Flax: Dec. lower 2.42B; May 2Vz lower July lower Oct. not open. Rapeseed Vancouver: Jan. higher Mar. IVs high- er 2.89; May 2% higher 2.81WB; July unchanged 2.71. Rapessed Thunder Bay: Dec. 1 higher 2.72V2B; Apr. 1 higher June un- changed Oats: Dec. unchanged 87A; May lower 88M; July not open; Oct. not, open. Barley: Dec. higher 1.28A; May lower 1.29V4A; July unchanged 1.29A; Oct. 1 higher 1.29A. Rye: Dec. Vt lower 1.05B: May Vi lower 1.12MB; July lower Oct. not open. Prices for class two wheat for export to countries outside IGA: 1 nor 2 3 4 1 Durum 1.81W; 2 3 4 1.65; IGA prices: 1 nor 1.82% 2 3 4 1 Durum 1.81 Vi; 2 3 4 1.65. High Low Close Flax 245% 244% 244% 256% 255 255 255V4 255V4 257% Rapeseed Vancouver 300 294 294 287% 281% 278% 278% 271 Rapeseed Thunder Bay 271% 282V4 280 281% 271% Oats 87 88% 88% 88% Dec May Jly Oct Jan Mar May Jly Dec Jun Dec May Jly Oct Dec May Jly Oct Dec May .Jly I Oct 128 129% Barley 127% 129% 105'A Rye 104% 127% 129% 129 130 105% 112% 114 114 INSURANCE FACT we write all kinds of INSURANCE HOME BUSINESS FARM AUTO and LIFE FACT we have been serving you FOR OVER 60 YEARS FACT we are the leaders We Introduced COMPOSITE DWELLING COMPOSITE BUSINESS COMPOSITE FARM ALL AT A SAVING AND NOW EQUITY LIFE INSURANCE GENE FORSTER A continuous Family Enferprise for over 60 yearsi 706 3rd Ave. S., Lsthbridge PHONE 327-2793 Macleod Livestock FORT MACLEOD On of- fer for week ending Dec. 17, 3C2 cattle and calves. Market steady on all classes. One hun- dred forty eight slaughter. Few good steers sold 29 to 29.90 witli similar heifers 27.50 to 28.60. Good cows 19.50 to 20.80, medium, 18 to 19.25, earners and cutters 15.00 to 17.50, thin kinds down to 10. Good bulls 22 to 23.30, plain to medium 16.75 lo 21.20. Two hundred sixty six stokers and feeders. Good heavy steers 31 to 32.50. Me- dium steers 27.50 to 30. Good feeder heifers 28.50 to 29.75, medium 26.50 to 28. Good feed- er cows 21 to 23, plain to me- dium 17 to 20. Six hundred five calves, good steers 39 to 42, with medium: light and good heavies 36.50 to 38.50. Good heifer calves 33.50 to 34.75. Re- placement quality 35.25 to 37. 343 stock cows and bred tieifers. Medium to good cows 2.80 to 3.10 with good bred heifers 260 to 300. Brown Swiss cross 345 to 360. Light weight and plain quality heifers and cows 195 to 240. Calgary Livestock CALGARY (CP) Receipts to 11 a.m., 380 head, practic- ally all cows and replacements. Trade was active. Slaughter cattle on offer sold in line with Thursday's closing prices. Good steers 28 to 29, medium 20.75 to 27.75. Good to cioice aeifers 27 to 28.60, medium 25.50 :o 26.75. Good cows 20.50 to 21.25, sales to 21.60, medium 19 ;o 20.25, earners and cutters 13 to 18. Replacement cattle were Livestock mostly heavy sleers and heifers meeting a good local demand at steady prices. Stock calves sold steady lor quality. Good feeder steers under 750 pounds 33 to 35, sales to 36.50, 750 pounds up 29 to 32, good feeder heifers 28.50 to 30.50. Good stock steer calves 37.50 to 41.25, good stock heifer calves 32 to 35.75. Hogs base price 21.35. Hog prices EDMONTON (CP) Prices to 11 a.m. provided by the Al- berta Hog Producers Market- ing Board: Edmonton: No market, aver- age Thursday 21.03. Red Deer: No market, aver- age Thursday 21.05. Calgary: Quoted and selling 21.35, average Thursday 21.23. Lethbridge: No market, av- erage Thursday 21.11. Lloydminster: No market, average Thursday 20.40. Total hogs sold to 11 a.m. 110. Sows selling 12.25. Total hogs sola Thursday, average 21.04. Beef futures WINNIPEG (CP) The Win- nipeg live beef futures market had only light trading Thursday with some contracts in March, 15 points higher than previous levels. Wednesday's volume of trade was eight contracts. High Low Close Jan M.15B Mar 30.00 29.90 30.00 May 29-BOB Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes] WESTERN OILS Alrnini Asamera Banff BP Oil Gas Can South Cdn Ex Gas Ashland Cdn Homesld Cdn Ind Gas Oil Cdn Long Is Cdn Super Cen Del Rio Charter Chiettan Dynamic Pete Gt Plains Mill Cily New Cbnt Numac 5.70 4.SS 4.05 9.00 6.65 11.75 .a 37.25 11.00 6.00 1.17 32.25 1.70 .86 B.05 .75 1.33 .81 1.15 13.00 21.50 1.7B 6.25 Permo Petrol Ptnnacje Place Gas Ranger Scurry Rain Spooner W. Deceits MISCELLANEOUS INDUSTRIALS Atco Ind Aquataine 26.00 Brit Mffd 4.60 Cdn Brew A Pfd 30.25 Cdn Brew B Pfd 35.00 Cdn Hydro Car 16.1 Cdn Pacific In' CPR Pfd Ind Inter Prov Pipe Intl Util Pfd Inter Steel Pipe Jefforson Lake Joutel Kaiser Res Kam Kotla L Ont Port Mentor Newconex Pacific Pete Rank Org selk Hold Shell Ir.v Shell Inv Pfd Shell Inv Wts Sicks Rainier West Cdn Seed White Yukon CALGARY Acroll Ana Pete Barons Oil North Cont Plains Pete West Warner Madison Rexdaie 13.75 31.00 8.00 8.62'A .91 7.00 .99 2.10 .66 6.00 27.62V2 16.00 10.00 32.25 32.50 2.75 3.40 16.50 1.10 .09. .06Vz .02 .42 .25 Corp Invest Corp In St f Deyfus f U.S. Gr Equity Gr In Sli Invest Gr Invest Mutual I OS Vent Mutual Ac Mutual Gr F Mutual In Nat Res N W Fin N W Gr N W Equity Principal Gr Prov Mutual Royfund United Ac Universal Sav 5.03 5.50 4.39 4.BO 11.05 12.11 5.80 6.37 3.02 3.33 10.12 11.07 5.05 5.53 3.42 3.74 X.79 5.27 4.17 4.51 4.64 5.10 6.92 7.56 3.83 4.21 4.54 4.9S 5.13 5.64 3.61 3.96 6.27 6.86 5.11 5.27 4.36 4.79 6.61 7.26 Ily I. II. ASPER Ontario's proposals for a new small business tax system will give tax analysts many sleep- less nights before an objective evaluation and consensus is reached. Using an investment tax credit approach, they are far more complex, though beneficial to the small busi- ness operator, than the Fed- eral Government's tax pro- posal. Because of their complexity and the care with which they have been devised, one cannot do their authors justice by at- tempting to summarize them briefly. Their result is to re- move the harshness of the fifty per cent tax rate proposed by the Federal Government, and replace it with a tax incentive system which will have a much more narrow application than the present tax system. In oth- er words, a compromise. Like any compromise, the Ontario plan has both defects and virtues. Its most serious obstacle to gaining public ac- ceptance will be its complex- ity; for regardless of how in- genious or inventive -a plan might be, if its adoption means that all small business opera- tors will have to go back to Uie classroom in order to live with it, there will be resistance. The present basis for taxing small business is undoubtedly imperfect, but at least it is re- latively simple and widely un- derstood by the affected tax- payer. Corporations are taxed at 20 per cent, plus Provincial tax and surtax, on the first of profits, and at 50 per cent (plus) on earnings above that. When the company pays out those after-tax profits to its shareholders, they p a y a sec- ond tax. Under Finance Minister Ben- son's year-old proposals, the low rate of tax on the first 000 of profits would be abolish- ed. All private company earn- ings would, in effect, be taxed at the personal tax rates of the company shareholders. In many important cases, this VANCOUVER Crowsnest Cygnus A Cygnus B Cum Prop Home A Home B Home Pillld Hud Bay Co Hud Bay Oil Hud Bay Pfd Husky Oil Husky Oil War 25.25 9.50 35.00 5.50 13.50 28.25 28.00 1.75 15.00 3S.25 52.75 14.00 7.05 PIPELINE STOCKS Alta Gas Tr L A 49.50 Alta Nat Gas 24.00 Inland Nat Gas N and C 15.00 N and C B Pfd 29.75 Gaz Metro 4.75 Tr Cdn Pipe 33.87W Tr Cdn P Pfd 41.50 Tr Cdn P Ptd A 64.50 Western Pacific 4.80 MUTUAL FUNDS AGF Special 2.36 All Cdn Com All Cdn Dlvid All Cdn Vent Amr Gr F Cdn Gr Cdn Invest F Col Mutual --_ Cmnw Inter 11.41 12.54 Cmnw Lev 2.84 3.11 6.11 7.52 7.89 fl.60 3.23 3.53 4.82 5.29 5.27 5.79 4.3S 4.78 5.52 6.06 Anuk Arctic Mining Atlas Explor Beth Copper Block Bros Brenda B.C. Sugar Capt Inter churchill Copper Crestbrook For I Croyden Dolly Varden Giant Mascot Key Indust Growers B Interior Brew Kamloops Copper Lornex Madrona New Gronln New Imp Mines okanagan Helicop 3.1 Primer Pyramid Silver Standard Trojan western Mines Westcwst Res Western Explor Utica .63 13.50 3.65 1.00 14.25 4.15 1.00 .21 .39 3.90 .31 2.90 5.12'A .10 f.25 .30 .08 l.VO .27 1.32 .27 3.50 .15 .60 Toronto mines., industrials Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quolw) INDUSTR! Abltibi Alcan Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil Trac B.C. Tel Burns B.C. -Forest B.C. Sugar CAE InrJ Cdn Brew Chemcell Col Cellulose Cal Power Coron Credii CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons I ath Con Dist Sea Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial imperial Tob Int Nickel Int Pipe tnv Gp A Int Utilities Indust Accept laurentide Kelly Doug A Loeh LoWaw A Metro Stores Massey Fcrg McMillan Moore Corp Molsons A IALS 8.00 22.75 13.37'A 9.62V2 17.00 63.75 8.25 25.00 16.00 4.80 7.37W 4.95 6.25 26.25 1.20 11.00 11.25 28.50 2.80 8.75 29.00 47.25 23.75 10.50 49.50 19.25 14.50 12.37'A 9.00 78.50 22.75 10.00 53.00 3.70 81.00 19.50 1.85 lfi.50 40.75 19.75 27.25 7.12Vi 34.50 16.75 6.00 5.00 3.65 9.75 26.25 34.00 15.37V) Molsons B North, Cent Pembina Pp Power Corp Price Co Rothmans St Law Corp Shell CDA Simpson's Simp sears Steel of Can Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans Can Pp Union Oil Versatile Mtg Westeel Union Car Weston's B Woodward's A West Cdn 5d Zenilh Elec. BANKS Can Imersal Montreal Nova Scotia Royal Tor-Dom MINES Acme Advocate Asb. AKaitcho Area Mines Belcher Iron Black Bay Bralcrne Broulan Bethlehem Brunswick Canada Tung. Cassiar Central Pat. Chimo Con west Cons. Rambler Coin Lake Cochenour Cratcjmont Dickenson Mine Oenison Mines Deer Horn D'Eldona Mines Don j fda Discovery Mines East Malsrtic East Sullivan 15.87% IS. 00 23.75 8.37VZ 12.25 19.00 32.25 17.12% 21.62% 25.75 9.75 27.87% 10.25 19.00 3-1.12% 15.87% .42 3.15 8.50 13.62% 19.75 17.25 3.30 1.20 19.75 Id. 37% 21.37% 19.75 1.51 .41 1.35 UOO 4.25 2.00 22.62W 2.45 1.62 9.85 .85 15 .42 8.90 1.25 23.00 .07 .95 <000 1.02 4.75 Falcon bridge Frobex First MBritlmes Giant Y.K. Gunnar Granduc Headway R.L. Hcllinger Hud. Bay M-S Hydra Ex. Highland Bel! Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leitch Lengis Silver Macassa Madsen R.L. Walartic G.F. Martin McNeely Maybrun Maclntyre Meta Midrim Intern Mogul New Athona New Calumet New Imperial Noranda Northgate Opemiska Oskso. Patino Pine Point Placer Dev. P.C. Exp. Quebec Man RayrocK Radiore Rio Algom Roman Corp. Silverfields Sherritt Gordon Silver MIMer Steep Rock Siscoe Tek Corp. Texmont Upper Canada Western Mines Wright Har. Willroy windfall Yeliowknifs Br. Zenmac l.OS 9.00 1.17 7.25 8.50 36.00 19.00 .16% 2.81 3.40 1.45 .22 .25 33.00 3.15 1.60 .09 1.10 10.00 .15 142.50 .27% 9.90 .15 .30 1.81 28.62% 8.00 9.40 .33 28.50 30.00 29.50 .77 .22 1.20 .28 15.25 i.5C 1.90 16.25 .04% 5.30 1.74 6.05 .49 1.86 3.50 1.13 1.38 13%