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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 7, 1975, Lethbridge, Alberta Friday, February 7, 1975 THE LETHBRIDQE HERALD 23 Agriculture need for clear farm policy stressed KAMLOOPS, B.C. (CP) Lack of a clear and consistent farm policy has resulted in lost, opportunities for Canada's agriculture in- dustry, the president of the Agriculture Institute of Canada said Thursday. Don Baron, speaking to the annual Conference here, said that the country's agriculture industry has been- obsessed with politics and particularly with marketing policy. He said the big decisions being made are political ones rather than technical ones. "We have failed to create an environment in Canada whereby rural depopulation Economic woes to be aired GENEVA (Renter) Rich and poor countries begin long- delayed trade negotiations here next week with earlier aims of expanding global com- merce diminished by the world's current economic; woes. The talks, opening on Tues- day, were conceived nearly three years ago within the General Agreement on Tariffs and Trade an 83- country body based in Geneva, as the most am- bitious attempt ever made to break down barriers to inter- national exchange of indus- trial and farm products. But now they seem.more likely to concentrate, at least in the short term, on bolster- ing defences against dangers of the world sliding back into protectionist restrictions that might result in a general trade war. Thoughts of governments have turned rather to self-de- fence than to opening their doors wider to foreign goods. The mainly procedural meeting, expected to last three to four days, will open next week with countries stating their initial negotiating positions. It will also discuss a time- table for the bargaining, and seek to draw up lists of issues to be tackled and procedures for dealing with them. Iran cancels wheat order WASHINGTON (AP) Iran has followed a number of other countries in cancell- ing United States wheat orders for the current crop year, the U.S. agriculture department says. A weekly listing of export commitments issued Thurs- day showed Iran has cancelled orders for metric tons of wheat scheduled for delivery by June 30, the end of the 1974 crop year. HD4ON MAC D. CAMPBELL Jack W. Pools, president of Daon Development Corpora- tion, announces the appoint- ment of Mac D. Campbell as Treasurer of the company. Mr. Campbell brings to Daon broad experience in the real estate development and investment field across Canada. Most re- cently, he was a Director and Senior Real Estate Investment Analyst with Canavest House Ltd., Toronto; prior to that, he was Real Estate Analyst with Greenshields Mr. Campbell holds a BA in Eco- nomics from the University of Alberta and an MBA from'the University of Western Ontario. can be stopped and We don't know how to recon" cile the Ontario farmers' needs for protectionism and western Canada's need to ex- port food. The chicken and egg war has led the way to the balkanization of Canada, the great move towards regionalism and provin- said Mr. Baron. He noted that the United States government has recent- ly turned its attention to the American farmer and said U.S. exports of farm com- modities in 1973 were 88 per cent higher than those of the previous year. The food ex- ports erased a deficit of billion in non agricultural trade, giving the U.S. an agriculture trade surplus of billion-. Mr. Baron said the U.S., in effect, has recognized the potential of agriculture. Mr. Baron said that by com- parison Canada, which is one of the few countries able to produce food beyond its own needs, is relying more and more on food imports. He said according to the Agriculture Economics Research Council of Canada, farm production in eastern Canada hasn't increased in the past'six years and declined in both the Maritimes and in Quebec. Egg quotas to be cut by 10% MONCTON, N.B. (CP) The Canadian Egg Marketing Board agreed Thursday to reduce egg quotas by 10 per cent for egg producers in seven of the 10 provinces. The reductions were agreed upon at a three-day meeting of CEMA which ended here Thursday. CEMA chairman Philip El- dridge of Calgary said follow- ing the meeting that the total production of registered producers in Canada would be cut by 10 per cent from the current 475 million dozen. The reductions will affect all provinces except New Brunswick, Prince Edward Island and Newfoundland, which will be permitted to maintain their existing quotas of 1.828 per cent, 0.637 per cent and 1.785 per cent respec- tively. They are the only provinces whose quotas are less than two per cent of the national total. Mr. Eldridge said the mem- bers of CEMA agreed com- pletely with the reduction and realized "they can't afford overproduction." Mr. Eldridge said farmers were not gouging the con- sumers. He said labor unions and professional organizations are accepted but "Canadians seem to think farmers can not organize to protect their economic interests. They seem to feel farmers should lose or make only minimal returns." An advertising campaign which had been planned to stimulate egg consumption during the first three months of this year has been post- poned. There was also a .word of comfort for the housewife. He said some provinces foresee a temporary lowering of retail egg prices, mainly due to im- ports of surpluses from the United States. Brewery reopened PRINCE GEORGE, B.C. (CP) Uncle Ben's Ltd. reopened its Prince George brewery Thursday and ex- pects all 25 employees to be back to work by Monday. A brewer and two other men went to work Thursday, and the bottling shop will go into operation Monday; said Jim Hubbard, bottling superintendent. In January, Ben Ginter threatened to close the brewery for good unless he could get provincial approval for a quota system that would force the province's beer parlors to buy at least 10 per cent of their beer from his brewery. Hcrald- Business TSE two-day gain ends Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN OILS AND MINES Alton Mines Albany Oil Alta East Gas Alminex Asamera Ashland Bf> Canada Brenda Mines Cda South Cdn Ex Gas Cdn Homestead Cdn Ind Gas Oil Cdn Long Is Cdn Super Chiellan Dev Dome Pete Dynasty Nufort Resources Giant Mascot Gibraltar Mines Granisle Gt Cdn Oil S Lochiel Ex Lytton Min Numac Pancdn Pete Pan Ocean Petrol Paloma Place Gas Ponder Ranger Oil Scurry Rain Seibens Spooner Total Pete Ulster Pete United Canso West Pete West Decalta MISCELLANEOUS INDUSTRIALS Acres Ltd Aquitaine BC Sugar C Pfd Block Bros Canbra Foods Cdn Pac Inv A Pld Cdn Pacific Inv Calling O'Keefe A Pfd Carling O'Keele B Pfd Comm Cap Corp Crestbrook Ind Crowsnest Ind Falcon F M Trust Genstar Home Oil A Home Oil B Hud Bay Co Hud Bay Oil Hud Bay Oil A Pld Hugh Russell Husky Oil Husky Oil B Pfd Husky Oil E War Interprov Pipe War Interprov Steel Kaiser Res Kaiser Res War Loblaw Co C Pfd Magnasonics Pacific Pete Pe-Ben Oilfield Serv 3.95 .42 5.75 8.62V: 6.50 11.00 3.35 2.18 '2.40 3.40 7.25 .14 29.00 6.50 8.25 .13 .69 4.90 12.50 8.00 1.15 2.86 11.37V4 10.25 9.25 1.30 .63 .28 .45 19.25 13.75 8.25 .25 5.3714 .62 8.00 3.80 4.40 6.62'-S 12.00 3.10 3.40 29.25 14.87V5 22.00 2.00 4.00 22.00 7.75 5.00 17.75 23.00 22.50 15.62VS 25.00 31.00 57.00 32.32'A 5.00 2.15 15.50 6.87VJ 4.00 26.25 1.60 19.37'A 4.10 Royal Trust Sandwell Teledyne Traders Grp Pfd Trimac Wesllield Min Weston A Pfd White Yukon PIPELINE STOCKS Alta Gas Trk A Alta Gas Trk Pfd Alia Nat Gas Gaz Metro Gas Metro A Pfd Inland Nat Gas N 8 C Gas N C Gas B Pfd Trans-Cda Pipe TrnasOda A Pld Trans-Cda B Pfd Trans-Cda War WC Trans War CALGARY Acroll Barons Oil N. Continental Western Warner VANCOUVER MINES Bathurst Norsemines Cima Resources Dankoe Davenport Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Key Industries Wardair OILS August Petroleum Plains Pete Stampede Int'l Resources MUTUAL FUNDS All Cdn. Compound All Cdn. Dividend All Cdn. Ventures American Growth Fund A.G.F. Special Eaton Commonwealth Eaton Leverage Eaton Int'l Venture Corp Investors Corp Investors Stock Fund Dreyfus Fund U.S. Grouped Income Shares Investors Growth Fund Investors Mutual Mutual Accumulating Nat. Resources N.W. Cdn. N.W. Growth Principal Growth Templeton Growth United Accumulative Universal Savings Vanguard Guardian N. Amer. Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb. Akaitcho Bra lorn e Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest 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 A Hydra Ex. Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen Malartic G.F. Martin McNeely Maclntyre Meta Midrim Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Nor lex Pine Point Piacer Dev. Pax Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep RocK Sunningdaie Tek Corp. A Texmont United Canso Western Mines WH Copper Mines Wright Hargreaves Willroy Windfall Yeliowknite Bear Zenmac INDUSTRIALS Abitibi Alcan Algoma Steel Aico Ind Agra Inti Bell Tel Brascan A BC Tel Forest Sugar Valley Ind Ind Power Foods Cellulose O'Keefe Gas Pfd Ind Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker A Erie Oil A A Nickel Pipe Grp A Int'l Ltd ,28 Douglas A .11 A Ferg Bloed Corp A B Cent Corp Co CDA 6.25 Sears Can A A Grp A Mtn Pipe Can Pipe Carbide Gas Oil Siscoe Mfg A Imperial Nova Scotia Dom 10.50 15.00 21.00 12.3714 12.75 24.62V! 3.40 7.00 2.27 3.80 8.00 18.62VS 3.40. 13.S714 9.75 15.87V4 28.00 25.25' 15.62Vi 35.25 21.00 20.25 24.37V4 24.00 1.43 7.50 35.25 16.12Vi 28.75 14.50 5.00 39.50 25.37V5 26.62V! 28.25 24.75 14.00 7.25 11.37V4 19.25 6.00 2.22 5.25 8.50 3.30 5.75 14.1214 14.8714 24.75 44.00 18.50 16.8714 8.25 11.00 3.70 9.00 13.75 10.50 14.3714 8.00 27.75 13.00 11.00 11.12V4 18.50 8.25 3.90 26.00 22.00 .25.50 14.50 39.60 30.25 39.50 New York (Supplied by Richardson Securities of Canada) Amr. T 1 T 48.50 Weslinghouse Elec Anaconda 15.76 U.S. Steel 48.62V4 Beth Steel 30.00 Gen Tel Elec 21.1214 Chrvster 9.8714 Dupont 96.00 TORONTO AVERAGES General Motors 35.00 20 Industrials 181.46 down 1.57 Gulf 20.00 20 Golds 409.45 up 7.96 Int Harvester 22.75 10 Base Metals 67.71 down ,3f Kenn Copper 33.75 15 Western Oils 1M.86 down 1.10 Montgomery Ward 19.50 Volume Sears 59.6214 NEW YORK AVERAGES Exxon 72.50 20 Industrials 707.84 down 6.33 Texas Gulf 27.50 20 Bails 156.96 down 1.18 Texas Co 15 Ulilities 81.00 down .79 Wlx Corporation 65 Stocks 227.44 down 1.98 Woolworlh 12.50 Volume Stock market retreats sharply TORONTO (CP) The To- ronto stock market retreated sharply in mid-morning trading Friday after two days of broad gains. Volume was moderate. The widely-based industrial index was off 1.70 to 181.33, erasing about half the ad- vance marked'up in the two previous sessions. Western oils dropped 1.05 to 154.91 and 23.50 5.75 4.70 11.00 5.37'A 1.30 50.50 6.50 12.37V4 56.00 .15.50 5.75 50.00 8.25 11.12V4 21.25 11.12V4 32.25 1.00 2.70 .32 .05 .02 .15 1.35 .67 2.40 .70 4.80' 2.35 .14 6.35 .06 1.60 .11 .64 5.08 5.43 2.17 3.78 2.04 12.23 2.60 2.61 5.34 4.02 8.87 2.50 10.47 4.98 5.09 3.57 4.48 3.80 3.50 7.13 3.86 7.05 4.20 2.80 Livestock Calgary Hog prices CALGARY (CP) Receipts to 11 a.m. Friday at the Calgary public stockyards totalled 350 head, mostly slaughter cows, feeder cattle and stock calves. Trade was active, meeting a broad demand from local buyers. There were no slaughter steers or heifers on offer. Dl and D2 cows sold steady. D3 and D4 cows traded higher. No bulls were sold in early sales. Cows, Dl, D2: 20-21. D3: 19-20. EM: 17.50-19. Feeder cattle and stock calves sold steady. Feeder steers 575-750 pounds: 35-38.25. Good feeder heifers weighing more than 550 pounds: 28.50-30.50. Good slock steer calves 401-575 pounds: 33.50-36. Good stock heifer calves 401-550 pounds: 26-28.50. Hogs fob to 11 a.m.: 53.10. EDMONTON (CP) Average clos- ing prices provided by the Alberta Hog Producers' Marketing Board. Thursday average in brackets: Edmonton 52.95 Calgary 53.10 Lcthbridge Nil Fort Macleod Nil Total hogs sold Friday average 53.07. No sows. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Fri- day was unchanged at Pound sterling was up 2-25 at 3-10. In New York, the Canadian dollar was unchanged at Pound sterling was up 2-25 at 3-10. base metals .28 to 67.78. Golds rose 7.31 to 408.80. The decline was largely in response to a lower New York market where selling was prompted by the release of figures showing a high un- employment rate. Volume by 11 a.m. at Toronto was shares, down from at the same time Thursday. Declines outnumbered ad- vances 168 to 95 with 147 issues unchanged. Texasgulf fell to Aquitaine to Genstar Vs to Alcan Vi tpJ20and Canadian Imperial Bank Vi to Mattagami was off to Hudson Bay Mining A to and Sherritt to Numac was down Vt to Pan Ocean to and Voyager 'A to Maclean-Hunter B gained 2 to and Bell Canada 'v, to Agnico-Eagle was up Vt to Camflo to and Anglo United six cents to Ram Pete rose 20 cents to Market trends Winnipeg grain WINNIPEG (CP) Futures prices moved sluggishly higher as activity picked up through mid-session Friday on the Commodity Ex- change. Rapeseed was mixed to mostly higher, while flax also showed general strength. Feed grains made smaller gains. Thursday's volume of trade was 000 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 two lower 6.87; July unchanged 6.98A; Oct. and Nov. unchanged. Vancouver rapeseed: Mar. higher 7.07A; June 414 higher 7.04ttB; Sept. two higher 6.82B; Nov. two higher 6.65B. Flax: May seven higher 8.50A; July six higher 8.16B; Oct. 5'A higher 8.05B; Nov. not open. Feed wheat: May 2Vi higher 3.79B; July unchanged 3.76B; Oct. not open. Corn: Mar., May and July not open. Barley: May 1% higher July >A higher 2.69'AB; Oct. not open. Oats: May unchanged 1.84'A; July unchanged 1.82B; Oct. not open, liye: May 2'4 higher 2.68A; July higher Oct. not open. Currencies MONTREAL (CP) Friday's mid- day foreign exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.0100 China renminbi .5650 Denmark kroner .1800 France franc .2340 Germany mark .4250 Hungary forint .0418 Italy lira .001600 Japan yen .0034015 Mexico peso .0804 Netherlands guilder .4120 Spain peseta .0181 Switzerland franc .4000 United States dollar 1.0020 United Kingdom pound 2.40 U.S.S.R. ruble 1.3545 Quotations in Canadian funds. basis Close 843 810 766 Grain quotes Thursday Lakehead: High Low Flax May S47 843 Jly Oct Nov Rapeseed Thunder Bay May 691 684 Jly Oct Nov Rapeseed Vancouver Mar 707V4 710 Jun 706y4 699 Spt 683 .676% Nov Hye May 266% 264Vi Jly 263'A 261'A Oct Barley May 271Y4 Jly Oct Oats May 184% 184 Jly Oct Corn basis Montreal Mar May Jly Peed Wheat May 377 376 Jly Oct Street prices Per bushel street prices Thursday basis Lethbridge. FLAX 1CW 7.79, 2CW 7.74, 3CW G.29; WHEAT 3CWRS 3.23'6, 3 utili- ty 3.03Vi. RYE 2CW 3CW 4CW 1.83'A, ErgOty OATS 1 feed 1.48, 2 feed 1.43. RAPESEED'- 1 Canada 6.41, 2 Canada 6.16, 3 Canada 4.91; BARLEY 1 feed 2.2S, 2 feed 2.24. Canadian wheat board selling prices basis Thunder Bay: WHEAT 3 utility 4.04; OATS I feed feed BARLEY 1 feed 2.75, 2 feed 687 645 701 Mi 700V.1 265 'A 262 245 Vi 272 269 252 182 175 350 355 360 376% 376 361 MONTREAL (CP) Prices registered a broad decline in moderate trading Friday on the Montreal Stock Exchange. Analysts said some losses were caused by investors cashing in on profits accumulated during advances the two previous days, but they attributed most of the decline to the fact New York prices are heading lower and Canadian markets in- evitably follow the Wall Street trend. Volume at a.m. was shares compared with Thur- sday. Banks led the indicators with a drop of 4.05 to 247.22, industrials lost 1.68 to 184.20, the composite-1.64 to 181.73, papers 1.11 to 107.50 and utilities (U7 to 138.02. Alcan Aluminium declined to Moore Corp. and Bank of Nova Scotia apiece to and respectively, Husky Oil to and Algoma Steel 'A to K. Among speculative issues, Com- mander Nickel Copper Mines was up three cents to 43 cents on turnover of shares. VANCOUVER (CP) Prices were up in light trading today on the Van- couver Stock Exchange. Early volume was shares. In the industrials, Mohawk preferred was unchanged at Anglo Bomarc. in the mines was unchanged at .84. In the oils, Cop-Ex Mining was unchang- ed at .15. Curb exchange volume was .shares. Cadet Resources was unchang- ed at .34. Prices were up in light trading Thursday: Volume was shares. On the industrial board, Canterra rose .03 to .31; Laurentide unchanged at Canadian Javelin up -62'A at Massey Ferguson unchanged at Newmark up .02 at and Venture fell .01 to .32 In the mines, Grandora fell .06 to .47; Sonesta unchanged at .31; Cypress unchanged at .74; Northair up .07 at Gunn Mines down .04 at .25 and Consolidated Fortune Channel fell .06 to .19. Most active issue in the oils was Payette, unchanged at .16; Seneca Developments down .05 at Stampede up .01 at .55; Cop Ex Min- ing unchanged af. .15; August Petroleum unchanged at .17 and Bison Petroleum unchanged at Volume on the curb exchange was shares. Petrowest was down .03 at .55; Belmoral up .02 at ;26; Mark V fell .04 to Cadet Resources rose .02 to .34: Norwich unchanged at .20 and Nevex was up .01 at .58. NEW YORK (AP) A sharp early selloff caused by the news of a post- World-War-If high in the U.S. un- employment rate left the stock market with a broad loss Friday. The noon Dow Jones average of 30 industrials was down 6.33 at 707.84. Losers outpaced gainers by more than a 2-to-l margin in moderately active trading on the New York Stock Ex- change. At the American Stock Exhange, the market-value index was down .19 at 75.09. The NYSE's composite index of all its listed common stocks was down .31 at 41.51. Among Canadian issues on the NYSE, Dome Mines was up to and Campbell Red Lake International Nickel was down to and Canadian Pacific Vs to Alcan was unchanged at and Massey Ferguson at Chicago markets CHICAGO (AP) Farm commodity futures gained 2 to 9 cents a bushel on the Chicago Board of trade Thursday. The demand, set off after a weak opening, was accompanied by short covering. Soybeans were up about 9 cents, wheat 7 cents and corn and oats 2 cents. Soybean, meal gained about a ton and oil was up some SO points. also were lightly traded and closed steady to about lower. While trade was mixed on the opening, the volume was not as heavy as recent days. Much of the selling appeared to "be continuation From Wednesday but after it had been satisfied a rally set in. The rally forced shorts to cover positions. The buyers included commission house brokers acting for the public as well and some exporters, who where thought to be hedging against foreign sales. Before the buying set in, some traders were concerned that other cancellations of export orders might be reveled, simtiiar to those of Russia and China last week. Another factor in the strength of prices near the close was an announce- ment of new export business in wheat and soybeans. At the close, soybeans were 1 to 9 cents a bushel higher, March wheat unchanged to 7 higher, March com unchanged to 2 higher, March 3.12 and oats unchanged to 2 higher, March 1.59. Grain quotations Thursday: Wheat: Mar 3.94; May 3.91; Jul3.77; Sep 3.84; Dec 3.92. Corn: Mar 3.12; May 3.15; Sep 3.00; Dec 2.82Vi; Mar 2.89. Oats: Mar 1.59; May 1.56; Jul 1.51; Sep Dec 'Franchise' Mexican imports direct from Mexico to you. Rot- tery-vases-statuary- shields, etc. High mark- up, good volume, ideal additional line for estab- lished retailer. required for initial stock and 500 sq. ft. of floor space. BoxllZLMhbridjeHtnld Joins Beny's Sales Staff Brian Blair Gerry Wagenvoort, General Sales Manager, Beny Chevrolet Oldsmobile, is pleased to an- nouce the appointment of Brian Blair as Time, Sales Manager. Brian was born and raised in Win- nipeg. He recently came to Leth- bridge from Calgary, where he spent 5 years in the finance field. For increased service Brian will specialize in working out your finance and insurance needs. I feel he is well qualified to make Beny's your one stop car 'dealership selling and servicing of vehicles, financing and insurance. BENY Chevrolet Oldsmobile 2nd Ave. and 8th Streets. Phone 328-1101 It's WHO you know that counts Appointment X-Pert Realty Ltd. is pleased to announce the appointment of Frank Kurina to their staff. He is qualified-to trans- act all phases of Real Estate. When buying or selling Farms, Commer- cial or Residential pro- perty give Frank a call at 327-4402 or one of the X-Perts at 329-4988. X-PERT REALTY LTD. 12113rd ATMHM South BuutHul 2Vi yur old three bedroom bungi- low in quiet creicent. Completely developed bmment, carpeted throughout. Selling price include> rode, drepei, Hove, fridge, dnhwuher, girMrator, wet btr, peg boerd and intercom. home It located at 1305 Michigan Place and a muet to aee. This home will be open for showing on February 8th and 9th from p.m. to p.m. Call ROY CLELAND for Full Particulars at 327-6335 or 329-3331. PRO CUSTOM CUTTING PHONE 327-2631 Freezer Special SIDES OF BHF, 220-240 FRONTS OF BHF, 110-125 HINDS OF BHF 110-125 nffM 'Jiaw M11750 1.09 custom cut mtit for your frMZtr CALL: CONVANIUUREN K JERMAIN A. SOENEN ;