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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 15, 1971, Lethbridge, Alberta Market higher in light trade TORONTO (CP) The To- ronto stock market was mixed to fractionally higher in light mid-morning trading today. On index, industrials rose .09 to 177.77, golds .12 to 180.69 and Supersonic airliner grounded LONDON (AP) The Anglo- French Concorde supersonic airliner has been grounded until mid-March because of engine trouble, its chief British test pilot said today. Brian Trubshaw told a news conference that in a recent flight a small part of one of the aircraft's engines went off and dropped into the Atlan- tic As result, modifications were being made to both Con- corde prototypes and they would be flying again about the middle of March, Trubshaw said. British and French ministers are to meet in March to decide the Concorde project should be completed. Costs have soared from an original esti- mate of million mil- lion) to a current million. Concorde's engines are made by Rolls-Royce, but the finan- cial crisis facing the British aero-engine group is not ex- pected to delay the modifica- tions. ________ Livestock Lethbridge Livestock AFTERNOON SALE Calgary Livestock CALGARY (CP) On offer lo 11 s.m., about 250 head; nearly all mixed grades of cows. Trade was slow. No slaughter steers were of- fered; a few heifers were of medium to good quality; cows were under pressure with prices 50 cents lower than last week's close; bulls were steady. Medium to good slaughter heifers 26.25 to 28.70. Good cows 19.76 to 20.60, medium 18.50 to 19.50, earners and cut- ters 16 to 18. Good bulls 23.50 to 25.20. Replacement cattle were feeder heifers and stock and feeder cows. Prices were steady quality considered. Good feeder heifers 28 to 30.90. Good stock and feeder cows 17 to 20.60. Insufficient base metals .06 to 95.00. West ern oils lost .23 to 209.73 Volume by 11 am. was shares, down from at the same tune Friday. Strongset sectors were com- munications and pipelines. Among a d v a n c i n g issues, Hudson's Bay Oil and Gas was up to Asbestos to Canadian Utilities Vt to International Utilities Vz to and Bell Va to Hudson Bay Mining rose Vs to Mattagami Ve to Con- solidated Marbenor 10 cents to ?4.10 and Voyager Pete 10 cents to Leith Instruments was down Vi to Versafoods Vi to Inco Vs to MacMfflan- Bloedel Vs to Bank of Mont- real Va to Denison to and Asamera Vs to PRICES UP MONTREAL (CP) The Montreal stock market moved higher in all sectors during light early trading today. The com- posite index gained .25 to 175.45. Combined volume on the Montreal and Canadian Stock Exchanges at 11 a.m. was shares compared with at the same time Friday. On index, industrials were up 17 to 180.03, utilities .45 to 152.97, banks .42 to 179.74 and papers .17 to 92.23. B C. Telephone was up Vz to "and IAC Ltd. to Falconteidge dropped to and International Utilities to MARKETS CLOSED Grain prices Winnipeg Grain WINNIPEG (CP) All com- modities were easier in ex- tremely light trade at mid-ses- sion on the Winnipeg Grain Ex- change today. Light activity re- flected the closing of United States markets for a national holiday. Exporter demand continued in rapeseed with scale-down buying. Flax declines were marginal. Both oilseeds had heavy hedge offers. Oats, barley and rye trade was featureless. Friday's volume of trade was bushels of flax, of rapeseed, of rye. Mid-session prices Flax: May lower July lower Oct. not open, Nov. 2.50B. Rapeseed Vancouver: March lower May 1 lower 2 88 %4B, July Va lower Sept. 2.72A. Rapeseed Thunder Bay: April 'A lower 3.15A, June V lower 2.90 Vib, Oct. 2.80A. Oats: May unch July Oct. not open. Barley: May Vs lowe 1.355JA, July, Oct. not open. Rye: May not open, July Vi lower Oct. rot open. Drug prices vary widely Major western oil firms reach agreement on prices NEW YORK (CP) All _ __ .__. stock markets, exchanges and banks are closed today in ob- servance of the birthday of George Washington. Cuba ballet coming PARIS (CP) The National Ballet of Cuba will tour Canada June 7-28, it was announced. Alicia Alonso, founder and director of the Cuban group, said the Canadian tour will in- clude performances in Ottawa, Toronto, Montreal and Quebec City. Chicks hatch by millions OTTAWA (CP) Canada's poultry population multiplied last year at a quicker clip than people. Dominion Bureau of Statistics reported here that the poultry count reached an estimated 80.9 million Dec. 1, up by 2.6 million or 3.4 per cent from the same date hi 1969. The human population, also reported Friday, expanded at a rate of 1.4 per cent last year. The poultry count covers farms everywhere except New- foundland. The population of hens and chickens expanded by 3.7 per cent to broilers ex- panded marginally to while the turkey population shot up by more than 21 per cent to There were geese and ducks, with no increases recorded. By KEN KELLY Canadian Preu Science Writer OTTAWA (CP) The federal government's new listing of irug prices and quality shows a wide spread between the lowest and highest price for three key drugs. The listing is the first instal- ment of a new series to appear monthly in Rx Bulletin, the fed- eral food and drug directorate's information magazine mailed to all doctors. The January issue, mailed Friday, shows: highest manufacturer's price for phenylbutazone, a commonly prescribed anti-in- flammatory agent, was more than 12 times the lowest price in December. highest priced proma- zine, a tranquillizer, was more than 13 times the price of the lowest. highest priced tolbu- tamide, an oral insulin for dia- betics, was eight times the low- st. The listing covers only the available varieties of these three drugs in the current issue. MORE TO COME est. Other drugs will be dealt with subsequent issues of the stock calves were offered to es- tablish a market. Few butcher- weight calves 31.25 to 33. Hogs base price 22.55. Earnings drop TORONTO (CP) Canadian Breweries Ltd. says sales and earnings declines in its United States operations more than off- set gains in domestic markets and contributed to a drop of more than million in net earnings for the second quarter of its fiscal year. Net earnings for the quarter ended Dec. 31 were or 8.1 cents per common share in the current fiscal year and or 13.3 cents per com- mon share in the previous fiscal year. Revenue for the second quarter was this year and last year. Manpower officer needed TABER (HNS) The Taber Chamber of Commerce is urg- ing Canada Manpower to rein- state a placement officer here. The chamber recently voted to express regret to Canada Manpower, Lethbridge, on the withdrawal of the local service here during 1970, and to re- quest the reinstatement of the placement office here. The chamber also gave its backing as one of the spon- sors, of' the Taber agricultural short course now being plan- ned for early March. A complete report on the fi- nancial and other successes of the recently held sugar festival was tabled to the chamber's meeting Feb. 17 when loose ends will be pulled together. The general report is that the festival was well received though some adaptations will be recommended. The consen- sus is that it should continue. Hog prices EDMONTON (CP) Prices to 11 a.m. provided by the Al- serta Hog Producers Market- ing Board: Edmonton: Quoted 22.50 to 22.80, selling 22.55, average Fri day 22.69. Red Deer: Quoted and sell ing 22.55, average Friday 22.84 Calgary: Quoted 22.55. Un sold at 22.50. Average Friday 22.64. Lethbridge: Unsold at 22.50 Average Friday 22.65. Lloydminster: N o markel No market Friday. Grande Prairie: No market No market Friday. Total hogs sold to 11 a.m. Sowsselling 13.50. Total hogs sold Friday average 22.71. monthly publication. Dr. C. E. Boyd, the editor. However, some varletlw of a drug may not be recorded ei- ther because they could not meet one or more of the official standards or because samples were unobtainable from the manufacturer for analysis by the directorate's officers. Next month, the bulletin will begin publishing studies of the bio-availability therapeutic ingredients of drugs as well as the price and quality data which began apperaing with the January issue. In the listings of phtnylbuta- zone's price for tablets of 100 milligram size the range was from charged by Gen- arex Ltd., Pointe Claire, Que. to by Geigy Pharmaceutl cals. For proma2dne, Genarex also was listed as the for tablets of 25 milli grams. Wyeth Laboratories price was for 500 tablets Will Pharmaceuticals, Candiac Que., has tablets for Alpha Drug Corp., Montrea had 1.000-tablet lots of talbutam ide in 500 milligram size at compared with charger, by Frank W. Homer, Ltd Montreal. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BE) OR SALE a.m. BuoTes) Quottsl l.m. Quotes, WESTERN OILS Alta East Gas ATmlncx Asamera Banff BP Oil Gas Can South Cdn Ex Gas Ashland Cdn Homestd 4.90 5.80 17.50 13.00 6.45 5.60 4.70 11.50 8.91 Husky Oil 17.75 Husky Oil B Pfd 44.00 Husky Oil War 9.05 Inter Prov Pipi 12.12% Gr In s Corp In Sf F 4.88 5. Dreyfus F U.S. 12.10 13. Gr Equity 0.03 shir Intl Ulil Pfd Inter Steel Pipe Jefferson Lake Joutel Kaiser Res Kam Kotia L Ont Port v.Dn nuinsam i_ unr fan Cdn Ind Gas Oil 11.37W MGF Manage Cdn Long Is Cdn Super Cen Del Rio Charter cnieftan Dome Pete Dynamic Pete Total Pete Gt Plains Mill City New Cent North Cdn Oil Numac Permo Petrol Pinnacle place Gas Ponder Ranger Scurry Rain Spooner W. Decalta MISCELLANEOUS INDUSTRIALS Agra Ind '.00 Atco Ind 8.50 25.75 Brit Nfld 5.25 Cdn Brew A 30.25 Cdn Brew B Cdn Hydra Car Mentor 39.50 Newconex 12.62% pacific Pet. Rank Org Selk Hold Shell Can Shell Inv Pfd Shell Inv Wfs Sicks Rainier west Cdn Seed White Yukon CALGARY Acroll Ana Pete Barons Oil North Cont Plains Pete West Warner Madison Rexdate PIPELINE STOCKS Alta Gas Tr L A 47.50 Alta Tr L Pfd 76.00 Alta Nat Gas 24.50 Cdn Nat Gas 16.00 Inland Net Gas 12.25 N and c N and C B -.0 Gaz Melro 4.70 37'n'A Gas Metro Pfd A 63.25 U.W 7.10 7.15 86.75 1.51 7.15 32.25 1.80 .83 8.40 7.95 .71 1.28 .79 1.33 .63 15.50 2.00 3575 Invest Gr ,'wf. Invest Mutual IOS Vtnt 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 6.50 1.14 2.90 5.25 .77 (.00 31.25 18.25 10.50 Universal Sav 3.36 3. 10.66 11. i.21 S. 3.64 3. 5.12 5 5.06 5. 4.95 5 7.30 7, 4.3! 4 5.23 5 5.99 6 3.98 4 6.56 7 5.38 5 4.66 5 7.12 7 VANCOUVER .36 .16 Crowsnesf In-' cygnus A cygnus B Gt Cdn Oil S MILLIONS OF VISITS More than 52 million visitors have ascended the Washington Monument since it was opened to the public in 1888. I want you to pay less income tax. There's a neat little section in the Income Tax Act called 79B. It means that if you have an eligible retirement plan, you can save or defer some of your tax dollars. All you have to do is register your annuity or permanent life insurance plans. I can help you with it. But you must hurry, your plan, must he registered by March 1st, 1971. And these things take a wee bit of time. Drop me a line and I'll send you more information, Suilife OF CANADA GORD HOPKINS 515 7th St. S. Bus. 327-3452 Res. 327-1994 Net earnings By THE CANADIAN PRESS Cominco Ltd., year ended Dec. 31: 1970, a share; 1969, Petrofina Canada Ltd. year ended Dec. 31: 1970, a share; 1969, Price Co. Ltd. year ended Dec 31: 1970, 41 cents a share; 1969, 95 cents. Southam Press Ltd. year ended Dec. 31: 1970, a share; 1969, Abitibl Paper Co. Ltd. year ended Dec. 31: 1970, 21.4 cents a share; 1969 63.8 cents. Consumers' Gas Co. year ended Dec. 31: 1970, a shara; 1969, Blame pop groups PORT OF SPAIN (Reuter) Such pop groups as the Beatles and the Rolling Stones have been blamed here by a drug commission f o r glamorizing drugs. The commission invest! gating drug addiction in Trini dad and Tobago said in its fina report that such groups openly endorsed drugs and gave a sor of "misplaced glamor" to the use of marijuana, amphetam ines and barbiturates. Dollar Value MONTREAL (CP) U.S. dol lar in terms of Canadian fund was steady at 15-16. Pound sterling was up 3-16 to 1 16. NEW YORK (CP) Closw birthday. Home A Home B Home Pitfld Hud Bay Co Hud Bay Oil Hud Bay Oil Pfd Hugh Russell 27.25 1.95 17.00 41.50 54.00 22.50 34.25 14.B7VJ Arctic Mining 17 oo Atlas Explor Beth Copper Bornite Rldgt Block Bros Brenda .06Vi B.C. sugar B.C. Sugar Pfd Cant Inter Churchill copper Col Cell Coronation Credit Crestbrook F Ind Croyden Dynasty Endako Fort Reliance Giant Mascot 15.62ft Granisle Pfd 33.00 Key indusr Growers B Hys Interior Brew Jericho Kamloops Copper Lornex Lytton Minerals New Crontn New Imp Mines Okanagan Heiicop TEHRAN, Iran (AP) Major estern oil companies, prom- sed an uninterrupted supply o! ersian Gulf oil for the next ve years under an agreement ached Sunday, are preparing r tougher price negotiations ith Libya beginnicg this week. Deputy Premier Abdul Salam alloud of Libya said during the eekend that price increases emanded by the six Gulf stales ere below Libya's minimum equirements. Libya and Al- eria supply Western Europe ith almost one third of its oil, and company officials said Sun- ay that Libyan oil at least light be cut off if quick agree- lent is not reached. The Gulf agreement is binding n Saudi Arabia, Iraq, Iran, Ku- wait, Abu Dhabi and Qatar, who upply almost half of Western Europe's needs and 92 per cent f Japan's. Under the Gulf agreement, the posted price of light crude rom the Gulf will go immedi- ately to a barrel, up 33 cents. Heavy crude will cost 0.5 cents more at a bar- The agreement will produce in extra million for the 'ersian Gulf countries this year and million during the ive years the pact runs. CLOSE TO DEADLINE Ending more than a month o: difficult price negotiations, the agreement was signed nine hours before a midnight dead line set by the OPEC after which it said member nations would unilaterally enact higher prices and taxes by legislation Failure by the companies to 10.UU Cdn Pacific Inv 26.37'A Tr Cdn P Pfd 42.75 "S Tf Cdn foil Westcoast Tr 23.75 western Pacific 4.90 MUTUAL FUNDS AGF special 2.58 _.. 5.10 AH cdn Com 7.62 8.33 Primer Gt Cdn Oil 6-75 100.00 cdn 8.V 9.55 Pyramid 27.62Va All Cdn Vent 3.38 3.69 Silver Standard Amr Gr Fund Cdn Invest F Col Mutual Cmnw Infer Cmnw Lev Corp Invest 5.28 i.BOTexmont 4.39 4.82 Trolan 6.03 6.22 Western Mines 12.19 13.36 Westcoast Res 3.17 3.42 Western Explor 5.43 S.S3 Utics .35 .18 .61 15.5 .1 4.35 6.7 17.50 16.50 4.SO .97 6.62'A 1.15 6.62V: .25 3.00 2.10 4.95 .11 .12 (.15 2.23 .08 1.31 4.35 .16 3.30 .14 comply could have resulted in a shutdown of their wells. Western oilmen said th agreement will push up costs o transportation and heavy indus try in Western Europe an Japan becauss the higher prices will be pased on to consumers This, they reasoned, will mak U.S. industrial exports mor competitive in world markets. Noting that U.S. deposit won't last forever, a senior oil company official said: "The current price trend ma encourage the United States t start exploiting its shale oil de- posits which until now has no been regarded u an economic prospect." In Calgary, ollrflim Carl Nickle said the >ettlement "will tend to trigger comparable in- creases In all oil prices around the globe." The higher rates established a basis for new prices that will be decided by Venezuala later this month. Venezuala provides about three million barrels of oil a ay to North America, meeting 11 demands In Quebec and the ilaritimes along with hah" emand of the eastern U.S. seaboard. The change in rates would first be reflected by higher pe- roleum costs In areas using oreign oil, but how soon this occurs would be decided by the oil companies and competition Mr. Nickle. publisher of the Daily Oil Bulletin and a former >rogressive conservative mem >er of parliament, said the 'ehran agreement is "going t< scare the pants off politician and I hope the public" in west ern countries. "It will make them realiz there is no security of supplj rom overseas. "OPEC countries are In th driver's seat and they will con tinue to use their power to gai as much revenue from oil a they can get away with." They can use the threat o cutting off. supplies to gain fur ther price increases, he said and it is in the economic inter est of the west to ensure futur cutoffs will not cripple indus try. jound to have an Impact DO Ca- nadian prices. Canada's position in petroleum picture a unusual in that it is both an im- orter and an g from Venezuela for east- oast use, and exporting to the nited States from the western elds. A longer-range effect of the ehran agreement could be as in impetus to exploration for ddional reserves in Canada's relic and offshore areas. Can- da now accounts for 2.6 per of the total world petro- eum production and has about wo per cent of Ciscovered re- UJ. companies would increase ra enues and stimulate the explo ation needed to prevent depenc ency on such oil. In Canada, the eventual effec of the higher prices for crud could mean an increase of tu or three cents a gallon in the r tail price of gasoline. Other pe- troleum product prices als could increase. Roughly half the petroleur for Canada's cars, trains, fur naces and industries coin from the OPEC countries higher prices at the source are Rolls-Royce stock soars LONDON (AP) Rolls-Royce stocks soared on the London stock exchange today when dealings opened in the new deci- mal currency after a two-day shutdown. Socks opened at 13V4 new pence (33 cents) compared with Wednesday's closing price of slightly more than sixpence in the old currency (six Later they moved up to 15 new pence (36 cents) as buyers' in- terest increased. Market sources said the boost was due to hopes that the gov- ernment may continue the Rolls-Royce project to develop the RB-211 engine for Lock- heed's TriStar aircraft. Chrysler wage pact ratified DETROIT (AP) Ths United Auto Workers union an- nounced here that three tenta- tive master agreements cover- ing salaried Chrysler em- ployees in the United States and Canada have been ratified by the membership. NEW! NEW! NEW! FIBERGLAS BRICK STONE PANELS YOU JUST NAIL ON Toronto mines, industrials Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. QUOTES) t.m. QuoJeil Acme Advocate Asb. AkaitctiD Area Mines Black Bay Bralorne Broulan Bethlehem Brunswick Canada Tung. cassior Central Pat. Chlmo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Donalda Discovery Mines East Malartic East Sullivan Falconbrldae Frobex First Mariiimes Giant Y.K. Gunnar Granduc Headway R.L. Hotlinger Iron Bay Iso Joliet Quebec Kcrr Addison Key Anacon Labrador Lake Shorn Leikh Langls Sliver Madsen R.L. Malartic G.F. Martin McNeely Maybrun Maclntyre Meta Midrlm Intern-Mogul New Athona New New Imperial .0716 Noranda 2.25 .50 Opemiska Osisko Patino Pine Point Placer Dev. P.C. Exp. Ray rock Padiore Rio Algom Roman Corp. I id Silverfields J.70 Sherritt Gordon .82 Silver Miller .12W Sleep Rock Siscoe 8.30 Tek Corp. Canada Western Mines Wright Har. Willroy Wintfall Yellowknife Br. Zen mac 1.55 .27 15.25 4.90 2.35 24.50 2.35 1.40 28.25 .04 .7fl 64.00 1.07 1.07 3.70 135.00 31.25 8.95 10.25 .42 27.50 29.25 34.50 1.55 .30 18.00 7.30 1.90 17.37W .08 2.65 1.87 5.90 .48 l.SB 3.40 1.23 1.12 .15 5.40 .13 INDUSTRIALS AbltibI Alcan Algoma Steel Alco Ind Atlan Sugar Bell Tel Brazil Trac B.C. Tel B.C. Forest B.C. Sugar CAE Ind Cdn Brew Chemcell Col Ccllulosi Cal Power Coron Credit C.W.N. Gas Cdn Indust Car.ada S S Cdn Marconi Cdn Chryslpr CPR Comlneo Cons Bath 15 Cons Gas Dlst Sea 1.38 Dom Brldgs 1.05 9.90 1 90 6.75 13.00 1.78 .22 9.65 .33 34.50 3.15 1.56 .11 9.50 .14 125.00 .19 Domtar Dom Textile Dom Stores Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil cda Huron Erie Imperial Oil Imperial Tob Int Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Loeb Loblaw A Metro stores Massey Ferg McMillan Moore Corp Molsons A Molsons B North, Cent OJV Pemblna Pp 23.62Vi Power Corp 15.37V. Price Co g 55 St Law Corp 742V1, Shell CDA 47J7W Simpson's 17 50 Simp Sears u Sfh Steel of Can 2150 sRlkirk A 17.50 Texaco Traders Gp A 7 62lfr Trans Mtn Pp 525 Trans Can Pp f. 35 Union Gas 36'oo Union Oil Versatile Mfg Weteel Union Car Weston's B Woodward's A West Cdn Sd Zenith Elec BANKS Can Imperial Montreal 20.12'A Nova Scotia 24.25 Royal 20.62'A Tor-Dom 8.50 1.30 11.75 30.00 4.00 8.75 27.00 70.00 lo'.25' 15.25 15.50 11.00 87.25 10.25 56.00 5.10 82.00 21.00 20.871, 20.37% 17.25 45.87'A 26.50 8.12W 36.00 17.00 7.62'A 5.25 3.85 4.90 33.00 12.25 27.25 34.75 16.J5 15.75 15.75 23.25 8.50 19.00 34.25 18.37V 23.75 26.87' 10.50 30.62V 10.50 21.50 32.75 15.25 42.00 3.65 11.00 15.50 18.87'A 19.SQ 3.50 1.50 19.75 23.00 33.75 19.50 New York stocks Supplied by Richardson. Securities ol Canadt New York Stock Market is closed today. TORONTO AVERAGES 20 Industrials 177.82 up .14 20 Golds 180.88 up .31 10 Base Met 94.89 off .05 15 Western Oils 209.98 up .02 Volume MORE THAN IIAi.F Lung cancer and heart dis- eases account for more than half of all deaths among British men between 45 and 64. REPORT PROFIT Scandinavian Airlines repor a profit, before taxes, of million for the year ending Sept 30, 1970. face-brick look Rid Whlti Red Stone sccent wslli Inilde thl provide luxurious stone INSIDE OR OUTSIDE YOUR HOME do-it-yourself panels for real masonry beauty at a fraction of real masonry cost! PATIOS KITCHENS Roxite looks and feels like real stone or brick masonry. Yet you simply nail it on yourself at big do-it-yourself savings. Revolutionary Roxite Fiberglas Panels need no special supports, never need painting or tuckpointing. 100% waterproof ...exciting idea for walls, fireplaces, planters and dividers, unlimited commercial applications. THIS WEEK'S SPECIAL PREFINISHED RANDOM GROOVED HARDWOOD PANELLING 48x90" Light Skeltone................ 2 SHORT OF CASH? CHARGE ITI CRESTLINE BUILDERS MARKET LTD. "itTHBRIOGE'S INDEPENDENT BUIIDING SUPPIY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 USE YOUR CRESTLINE BUDGET I ACCOUNT! ;