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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 3, 1975, Lethbridge, Alberta 14 THt LETHBRIDGE HERALD Monday, February 3, Housing development restrictions Consumer groups cause problem WINNIPEG (CP) Most consumer groups who bring about government restrictions on the housing industry are loud mouth individuals who are comfortable in their own accommodations-and don't care about those who need homes, Ernest W. Assaly said Sunday. "These consumer groups don't help a darn bit with their no-growth Mr. Assaly said in an interview on the eve of the opening of the 32nd annual convention of the Housing and Urban Develop- ment Association of Canada "LOUD AND MOUTHY" Mr. Assaly, of Ottawa, the outgoing president of HUDAC, said the activists were "loud and mouthy" persons who are stopping development. The four-day conference that begins today is expected to attract more than delegates. "Municipalities have to react to these groups because they are the ones they hear Mr. Assaly said. But it has led to too many controls. He cited as an example the recent restrictions placed on heights of buildings in Toronto and Ottawa. "There ought to be an area where we can put up he said. "We can produce the houses if they let us do it." Barnett Danson, federal urban affairs minister, delivers the keynote speech at noon today to delegates who are meeting at Winnipeg's sprawling new downtown Convention Centre. Theme of this year's conference is "survive and thrive in but Mr. Assaly said this did not mean the residential construction in- dustry in Canada is in trouble. INDUSTRY OPTIMISTIC HUDAC, with members, is the official voice of the residential construction industry but subcontractors, building material manufac- turers and others are associated with it. Despite the theme, Mr. Assaly said the industry is en- couraged by prospects for this year. He predicted to housing starts for 1975, including single-family dwellings, apartment GM may lose top rank on corporate revenue list buildings and multiple housing such as condominiums and row houses. Canada finished up last year with housing starts. The record was starts in 1973. Officials consider that Canada must produce houses a year for the next five years to meet demand. Mr. Assaly said the major reason for optimism in the in- dustry this year despite high inflation and threatening recession is the incentives to builders and prospective house Owners in last fall's federal budget. He referred to provisions such as those permitting prospective home owners to put aside tax free for 10 years towards the purchase of a house, the first-time owner grant, and the decision to allow investors in multi- family housing to write off capital costs. "Add all of these together and it means people now can buy a he said. The Heraltl- Business Mid-session TSE trading moderate Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited DETROIT (AP) The record earnings of billion almost 95 per cent of his fO president of the United Auto on record sales of ?35 billion. regular take-home pay when Workers (DAW) union says The i974 sales are expected coupled with car sales will rebound to the to have dropped off slightly, record levels of 1973 before while 1974 profits will be down ft 1980, but he forecasts a slow- to about million, market ft-vruz; growth rate. other automakers report later Leonard Wopdcock also said- this month, the decline in ear-that laid off workers at Chrys- nings is expected to be cornier Corp. and General Motors parable, with Mexico VANCOUVER (CP) CP will exhaust their company- perhaps operating in the have announced a paid jobless benefits this The days of making 20 (U.S.) agreement with spring, bringing "substantial on the dollar may be over, suffering" to some com- Woodcock largest bank to develop eight hotels. munities. Nevertheless, Woodcock He said in an interview said he foresees the number of there are indications GM dis- cars sold before the end of G. Burton, vice-president of CP Hotels' Mexican operations, said his firm regarded its profit formula on decade to rebound completely new model cars in order to from tne present depressed keep the cost within reach of levels, most consumers. With sales off about 30 per "It's quite obvious they "Jasf BRUSSELS (CP) -European Common Market countries no longer are threatened with running short signed the development agreement with Banco De Comercio to establish a tourist company in Mexico. He said the company will develop hotel facilities in can't meet the profit target ijnes ar'e a City and the resort they once he said. 254000 of the 687000 has turned of Acapulco, Cancun, "Those days have got to be United into hoarders Puerto Vallarta, are off the job this speculators and Baja, Calif. GM is expected to release "If Chrysler continues its 1974 sales and earning the level it is now, its nine members statement today, and the fund will run out in results might drop the firm said Woodcock. "And unless from its perch atop the cor- things turn around at Common Market reached a five-year agreement Sunday porate revenue rankings to we're looking at June." the No. 2 position. The industry's Supplemen-would become No. 1. tal Unemployment Benefit GM lost the profit title in (SUB) funds assure an Commonwealth cane sugar producers. The Common Market, whose annual increased 1973 while posting company employed auto worker of sugar runs to about 10 million (CP) CanaT S 1 00 000 LIFE INSURANCE WlVVV (Initial itself to buy 1.4 million tons a year from the Commonwealth producers newsprint shipments increased 8.7 per cent in 1974 to 9.9 million tons from 9.1 million tons the previous year, Laval Turin flnlinn convertiixe iwm upuon guaranteed price, regardless of Canadian Pulp and Paper Association reports. ANNUAL PREMIUMS market a release, the association Age 20-1 91.00 Age 35-228-00 the United States, the Age 25-160.00 Age 40-321.00 1. _ result was market, imported 7.2 Age 30-167.00 Age 49-475.00 between tons of Canadian KENBELSHER Market last year, up 5.6 per OCCIDENTAL LIFE and the of California is the world's 439A HOLIDAY VILLAGE W of newsprint producer Phone 32B-OM4; Rea. 32B-0M4 7 Caribbean exporter. group which has an association Franchises Now with the Common in a final frenzy of which capped 18 months of bargaining on over-all A Lethbridge man received RENT-A-CAR sugar membership certificate in dii jmpurmni ins mute ot chartered Ac- Enquiries are Invited from capable, aggressive, business applicants interested in opening an Airways Rent-A-Car and Truck franchise a broad convention to be signed between of Alberta in a recent ceremony in Calgary. any one of a number of cities not currently serviced by an Market John Hunt is a franchise. Previous rent-a-car experience not necessary. Locating, opening and administrative assistance is available to all successful applicants. Interested persons may obtain further informafion upon request and by furnishing a brief resume of personal and 46 producing countries at Lome, Togo, on Feb. of the Lethbridge' Collegiate Institute and the University of Lethbridge. the five Write to B. the Frenchise will be FOR GIN Airways Rent-A-Car of Western Canada Ltd, Head Office 5920 Macleod Trail to keep up with the increasing cost berries, the fruits of the well-known evergreen, are in the manufacture of the gin. WESTERN AND 87 14 Atton Albany Alia East Asamera Ashland Grp Pfd 'A 4.75 BP Brenda A Cda Cdn Export Cdn Gas Cdn Ind Gas Cdn Long Nat Cdn Chieftan Metro A Dome Nat C Nufort S C B Giant Gibraltar A B Gtt Cdn Lochlel Trans North Cdn Numac Oil PanCdri Pan .05 Paloma Place Gas .28 Warner VANCOUVER Ranger Oil Scurry Rainbow Seibens Spooner Total 14.00 8.00 .23 Norsemines Cima Resources Dankoe .63 2.30 .70 4 50 Ulster Pete United West Vi West Decalta MISCELLANEOUS Standard Valley Copper 5.50 Acres BC Sugar c 30 Block Canbra Foods Cdn Pac A Petroleum Plains Cdn Pac Inv Carling A Pfd Carfing B Pfd Com Capital Crest Forest Crowsnest Indus Falcon 20.50 21.25 1.90 3.90 21.00 Int'l Resources MUTUAL FUNDS All Cdn. Compound All Cdn. Dividend All Cdn. Ventures American Growth Fund A.G.F. 5.41 3.13 3.73 200 F M Genstar Home Oil Leverage Eaton Int'l 4.98 Home Oil Hud Bay Invest Stock Hud Boy Oil Hud Bay A Pfd Hugh Hussell C 31.00 Fund U.S. Grouped In Shares Investors Growth 2.49 10.34 Husky Husky Oil B Pfd Husky Oil E Accumulating Nat. 3.54 Inter Pipe Cdn. Inter S 50 Kaiser Kaiser Res Loblaw C TORONTO (CP) Prices on the Toronto stock market were mixed in moderate mid- morning trading Monday. The industrial index was off .30 to 179.59 and golds .06 to 370.69. Base metals were up .14 to 66.45 and western oils .05 to 153.10. Advances outnumbered de- clines 119 to 100 with 145 issues unchanged. Volume by 11 a.m. was 000 shares, down from at the same time Friday. Imperial Oil A fell >A to Moore to Nu- West A to Asbestos Corp. 'A to and Chrysler Corp. V4 to VS Services A rose 65 cents to Bow Valley to Intermetco to and Jannock A to Sherritt Gordon gained Vt to Consolidated Canadian Faraday 15 cents to and Gibraltar five cents to Pamour lost to and Agnico-Eagle five cents to Ranger was V4 to and North Canadian 15 cents to Canada Northwest dropped five cents to Market trends MONTREAL (CP) Prices generally were lower in light trading Monday on the Montreal Stock Ex- change, continuing the trend toward lower prices established during the two previous trading sessions. Volume at a.m. was shares compared with Friday. Papers lost 1.84 to 106.82, in- dustrials'0.43 to 182.55, the composite 0.21 to 179.85 and banks 0.07 to 243.34, while utilities added 0.46 to 136.31. Imperial Oil A surrendered Ife to J2631, Moore Corp. 'A to J43, Chrysler Vi to I11U and Royal Bank to while TransCanada PipeLine was up Vs 'at Among speculative issues, Belleterre Quebec was up five cents to 75 cents on turnover of shares. VANCOUVER (CP) Prices were up in light trading today on the Van- couver Stock Exchange. Opening volume shares. In the industrials. Venture Proper- ties was unchanged at .35. In the mines; Dalton was up .04 at .41. In the oils, Williams Creek was unchanged at .06. Curb exchange volume was shares. Mark V was up .05 at NEW YORK (AP) Digesting last week's strong advance, the stock market was mixed Monday in active trading. noon Dow Jones average of 30 industrials was off .47 at 703.22, but ad- vances led declines on the New York Stock Exchange by 776 to 426 among the issues traded. On the American Stock Exchange, the market-value index was off .01 at 74.19. The most active issue was Syntex Corp., down 1 at The NYSE's broad-based index ad- vanced .11 to 41.02. Among Canadian issues on the NYSE, Dome Mines was up Vt to and Alcan to J1914. Campbell Red Lake was down to nn. Canadian Pacific was unchanged at (16, International Nickel at and Mclntyre at Toronto mines, industrials (Supplied by Richardson Securities of Canada) Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Monday at the Calgary public stockyards totalled 225 head, mostly slaughter steers and cows. Trade was dull on steers and active on cows. Choice steers sold lower, meeting a narrow demand. Cows were mostly of the lower grades, selling 50 cents higher, meeting a broad demand. Bulls were steady. Steers, Al, A2: 38.50 to 39.60. A3: 37.50 to 38.50. A4: 36.50 to 37.50. com- mon to medium: 35 to 37. Cows, D3: 16 to 17. D4: 13.50 to 16. Bulls, good: 18 to 21. A few good feeder steers weighing more than 750 pounds were sold at 36 to 38.70. Hogs f.o.b. to 11 a.m.: 53.20. THE FUTURE HOME OF BERGMAN'S FLOOR COVERINGS Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW land Canada Tung. Cassiar Central Pat. Chimo Con west Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger A Hudson Bay MSS A Hydra Ex. Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L Malartic Q.F. Martin McNeely Maclntyre Meta Midrjm Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Norlex Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep Rock Sunningdale Tek Corp. A Texrriont United Canso Western Mines WH Copper Mines Wright Hargreaves Willroy Windfall Yellowknife Bear Zenmac .06 VS 1.35 1.50 1.33 .36 9.00 1.28 3.BO 3.40 3.05 4.15 .92 .90 2.65 1.65 .15 1.08 3.30 7.3714 43.50 .31 46.00 2.01 3.40 1.70 29.00 .1714 .37 1.40 27.50 '15.37VS .50 4.80 1.00 .23. 10.6214 .24 30.50 3.10 .13 .59 1.01 .2514 41.50 .13V. .10 3.20 6.6214 .20 .18 32.00 3.50 .16 28.37V; 15.62V4 1.80 .15 .93 .19 24.1214 11.37V4 6.62VS 1.16 3.50 2.90 .18 7.50 1-77 1.60 1.10 1.35 .11V4 .2.35 .06V> TORONTO INDUSTRIALS Abitibi 9.50 Alcan 19.25 Algoma Steel 29.00 Atco Ind 1575 Agra Ind 6.50 Bell Tel 45.8714 Brascan A 12.8714 B.C. Tel Burns B.C. Forest B.C. Sugar Bow Valley Ind Cable CAE Ind Calgary Power Canbra Foods Can. Cellulose 1 Carling O'Keefe. Chemsell C.W.N. Gas Pfd Cdn Indus Cdn Marconi Cdn Vickers Chrysler C.P.R. Cominco Cons Bathurst Cons Gas Dist Seagrams Dominion Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mob Homes Gt Cdn Oil Sds Gen Motors Gt Lakes Paper Gulf Oil Cda Greyhound Lines Hawker Sid Hiram Walker A Huron Erie Imp Oil A Imasca A Int Nickel Int Pipe Inv Qroup A I.U. International IAC Jannock Kaps Kelly Doug A Laurenfide Loeb Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molsons A Molsons B Nachura North and Cent Peyto Power Corp Price Co Rothmans Shell CDA Simpson's Simpsons Seats Steel of Can A Selkirk A Texaco Trad Group A Tr Mm Pipe Tr Can Pipe Union Carbide Union Gas Union Oil United Siscoe Versatile Mfg Westeel Weston's Woodwards A BANKS Cdn Imp Montreal Nova Scotia Royal Tor-Dom 52.50 10.50 15.00 21.00 13.12Vi 12.75 7.00 24.25 3.00 6.25 2.45 3.65 3.50 19.00 3.45 14.00 11.25 16.00 26.50 25.75 15.87V5 35.12V4 21..25 19.37VS 17.00 23.12V4 24.50 1.60 7.25 38.00 16.37V4 27.50 14.50 5.00 38.50 24.8714 26.62V4 27.00 24.62Vi 7.00 11.3714 6.50 2.23 5.25 8.3714 3.30 6.00 13.00 14.8714 24.50 43.00 17.12V4 16.25 8.1214 11.00 3.50 9.25 14.37VS 11.25 14.25 8.1214 10.50 28.25 13.50 32.50 12.75 10.25 10.25 17.1214 9.00 8.6214 3.90 6.50 24.12VS 23.00 22.25 25.50 14.75 38.6214 29.50 38.25 Hog prices EDMONTON (CP) Prices to 11 a.m. Monday provided by the Alberta Hog Producers Marketing Board. Friday's prices in brackets. Edmonton: 53.15 Calgary: 53.20 Red Deer: 53.58 Lloydminster: Nil Hogs sold to 11 a.m. 636. Hogs sold Friday, average 54.94. Sows average 33.65. Currencies MONTREAL (CP) Monday's mid- day foreign exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.0100 China renminbi .5650 Denmark kroner .1840 France franc .2355 Germany mark .4325 Italy lira .001600 Japan yen .0034015 .Mexico peso .0804 Netherlands guilder .4200 Spain peseta :0182 Switzerland franc .4075 United States dollar 1.0030 United Kingdom pound 2.41 U.S.S.R. ruble 1.3545 in Canadian funds. Winnipeg grain WINNIPEG (CP) A gain of several cents a bushel for feed wheat was the only bright spot in a long list of falling prices at mid-session Monday on the Winnipeg Commodity Ex- change. Oilseeds were the biggest losers, with rapeseed easing as much as 17 cents a bushel in generally light trading. Friday's volume of trade was bushels of feed wheat, of oats, of barley, of rye, of flax and of rapeseed. There was no trading in corn. Mid'Session prices: Thunder Bay rapeseed: May 14 lower 7.06A; July, Oct. and Nov. not open. Vancouver rapeseed: Mar. 16 lower 7.19B; June 12'A lower 7.10V4B; Sept. .17 lower 6.88A. Flax: May 20% lower 8.20; July 21 lower8.00A; Oct. 121ower7.98A; Nov. 10 lower 7.60A. Feed wheat: May one higher 3.67A; July two higher 3.66B; Oct. not open. Corn: Mar., May and July not open. Barley: May 3% lower 2.80A: July 2% lower Z.TTWA; Oct. 10 lower 2.62A. Oats: May two lower 1.84A: July 2% lower 1.81A; Oct. not open. Rye: May 2% lower 2.68A; July Zil lower 2.62V4A; Oct. not open. Street prices Per bushel street prices Friday basis Lethbridge. FLAX 1CW 7.77. 2CW 7.72, 3CW 6.27; WHEAT 3CWRS 3.2114 3 utili- ty 3.01'A. RYE 2CW 2.19, 3CW 2.14, 4CW 1.89, Ergoty 1.77; OATS 1 feed 1.4914..2 feed RAPESEED 1 Canada 6.64, 2 Canada 6.39, 3 Canada 5.14; BARLEY 1 feed 2.40, 2 feed 2.36. Canadian wheat board selling prices basis Thunder Bay: WHEAT-Sutility 4.0444; OATS-1 feed 1.91, 2 feed 1.88; BARLEY 1 feed 2.85, 2 feed 2.TO. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Mon- day was up 1-50 at 10.99 49-50. Pound sterling was off 2-5 at 12.37 3-5. In New York, the Canadian dollar was off 1-50 at (1.00 1-50. Pound sterl- ing was off 7-20 at 12.37 13-20. Giveus 30 minutes, and we might talk youcMtfofan WAREHOUSE SPACE STILL AVAIUBLEI 328-1705 or 253-7195 Calgary (24 RICHFIELD New York (Supplied ty Rrcfcurtsoi Secirities oi AmrTiT 48.50 Woohvorth 126214 Anaconda 15.3714 Westinghouse Elec .1150 Beth Steel US Steel 471214 Chryster Gen Tel Else 2100 Comsat 34.25 TORONTO AVERAGES Dupont 97.75 20 Industrials down 25 General Motors 36.25 20 Golds 371.37 up .62 pull 20.3714 10 Base Metals 66.25 down .06 Int Harvester 21.50 15 Western Oils 153.02 down .03 Kenn Copper 33.75 Volume Montgomery Ward 19.25 NEW YORK AVERAGES SM'S 59.75 20 Industrials 703.06 down .62 Exxon 73.6214 20 Halls 160.15 up .53 Texes Qulf 26.75 15 Utilities.80.32 up .06 Texas Co 25.50 65 Stocks 227.48 up .10 Wix Corporation 12.1214 -Volume How's for a switch? While others are probably trying to talk you Into a Registered Retirement Savings Plan, why would Metropolitan; Life talk you out of one? Because, for many people an R.R.S.P. la a great investment. For others, It's not. It would take us maybe a half hour to find out your needs. So, before you make a decision, invest 30 minutes with at. We'll analyse your present circumstances, discuss your future prospects, and give you an honest answer. Then, it we don't think an R.R.S.P. Is a good Idea for you, we'll tell you. Phone any Metropolitan Life office and arrange to see one of our representatives. He can give you all the facts about R.R.S.P.s: The straight facts. _ _ Where the future u now ML.. SMM LimtiKii Mom MT-ilM ;