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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 17, 1971, Lethbridge, Alberta 20 THt UTHMIDGt HOAIB IT, Weaker trend continues today TORONTO (CP) Prices! Combined volume on the were fractionally lower in mid- Montreal and Canadian Stock tlvn. _ ii_ _ 11 1 m M'ac morning trading today as the Toronto stock market entered its second consecutive declining Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherry, Roadhouse and McCuaig) LAST BID OR SALE a.m. QUOlWi n.m. Quotes) a.m. Guohtsl WESTERN OILS Alia East Gas 4.90 Almlnex Asamera Banff BP Oil Gas can South Cdn Ex Gas Ashland Cdn Homestd Cdn Home Pfd 6.00 13.CO 4.40 5.70 5.05 11.50 9.10 U.OO cesion. On index, industrials lost .23 to 177.50, base metals .21 to 9403 and western oils .52 to Golds gained 1.58 to 210.72. 180.39. Volume by 11 a.m. was shares, compared with at the same time Tuesday. Losses outnumbered gains 119 to 90 with 191 issues unchanged. Weakest sectors were con- struction and industrial mining. Among declining issues, Roth- mans was down to Leigh Instruments to Inco to R. L. Cram to Westcoast Transmis- sion to Sherritt to Placer to ?34V4 and United Canso 10 cents to CPR rose H to Endako Vs to Rio Algom Vi to Hudson Bay Mining V-t to and Chemaloy seven cents to BANKS ADVANCE MONTREAL (CP) Banks and utilities advanced while in- durtrials and papers moved lower in light early trading today on the Montreal stock market. The composite index off .12 to 175.30. Exchanges at 11 a.m. was shares compared with at the same time Tues- day. Or. index, industrials dropped .37 to and papers .43 to 93.33. Banks were up .55 to 179 92 and utilities .43 to 153.29. Rotbmans dropped to Fakonbridge to Imasco ?1 to Pacific .Petroleum to Fraser to and Tex- aco to CPR was up to Brit- ish Columbia Telephone to Asbestos to and Hud- son Bay Mining to Cdn Ihd Gas Git 11.50 Cdn Long Is Cdn Super Cen Del Rio Charier Cnleflan Dome Pele Dynamic Pete Total Pete Gt Plains Mill City New Cont North Cdn Oil Numac Permo Petrol Pinnacle Place Gas Ponder Ranger 7.15 87.53 1.16 7.15 32.50 1.10 .84 8.10 7.85 .72 1.32 Lev 3.M 3-51 Corp Invest S.J4 Corp In St F 4.88 Dreyfus F U.S. 12.13 13.25 Gr Equity 6M Gr m Shares 3.35 3.69 invest Growth 10.71 11.21 11 17U Invest Mutual 5.24 5.73 Mutual AC 5.22 5.7J Mutual Gr F 5.06 5.56 Nat Res 7.35 a.03 N w Fin 4.33 4.76 N W Gr 5.22 5.74 s'l! principal Gr 4.04 4.44 Royfund 5.40 S.56 United Ac 4.76 5.13 31.37V3 universal 7.15 7.65 1050 VANCOUVER 3U7'.i 3.25 3.50 16.75 Scurry Rain Spooner W. Decalta 'MISCELLANEOUS INDUSTRIALS COMES BACK NE W YORK (AP) The 7.25 9.00 25.50 5.25 Grain prices Winnipeg Grain Prices WINNIPEG (CP) Export- ers continued to buy flax and rapeseed on a good volume at midsession today on the Win- nipeg Grain Exchange. Earlier hedge offerings in rapeseed thinned out and all futures posted fractional gains but flax was on an easier price pattern. Oats and barley had a mod- erate domestic shipper trade for eastern feeders and there was some exporter buying in rye. Tuesday's volume of trade was bushels of flax, of rapeseed and of rye. Mid-session prices: Flax: May lower 2.55V4; July lower Oct. lower 2.56B, Nov. 2 higher Z.54B. Rapeseed Vancouver: March unchanged 3.19, May 2% high- 2.94y4B, July Sept. not open. higher Thunder Bay: April 1 higher 3.16B, June 1% higher Oct. unchanged 2.78A, Oats: May lower July lower Oct. Vz lower STTsA. Barley: May. lower July unchanged 1.31, Oct. not open. Rye: May lower 1.17VS, July lower Oct.. 1 low- er 1.16A. Prices Tuesday for Class Two wheat for export to coun- tries outside IGA: 1 Nor 2 3 4 1.69; 1 Du- rum 2 1.76V4; 3 4 1.63'4; IGA prices: 1 Nor 2 1.791's; 3 4 1.69; 1 Durum 2 1.76V3: 3 4 1.63U. Grain quotes Tuesday (basis High Low Close Flax May 256'i 253V 25G stock market recouped much of the losses it suffered under the sway of profit taking in today's active trading. At non the Dow Jones aver- age of 30 industrial stocks was off 2.91 points at 887.12. Earlier it had been off about 6 points. The New York Stock Exchange tape was running late on and off all morning. Declines led advances by 2 to Analysts noted the profit tak- ing was most severe in the blue chips. They said some adjust- ments could be expected on the market's sustained recent gains. At noon the Associated Press 60-stock average was off 0.9 at 309.2. Dome advanced IVi to among Canadians. Distillers was up at Walker at Hudson Bay Vt at and Genstar at Inco was off and Masssy at On the American exchange Brascan was off at Scurry at Jupiter '4 at S1054 and Javelin Yi at Egypt accepts terms By THE ASSOCIATED PRESS The authoritative Cairo news- paper Al Ahram says Egypt has informed United Nations envoy Gunnar V. Jaring that it will pledge compliance with the Se- curity Council's 1967 resolution on the Middle East if Israel does likewise. The reply to last week's peace initiative by Jarring urged him to obtain from Israel a pledge to "discharge the obligations contained in the resolution" Al Ahram says. It lists them as Is- raeli withdrawal from all tsrri- Agra Ind Atco Ind Aquataine Brit Nfld Cdn Brew A Cdn Brew B Cdn Hydro Car Cdn Pacific Inv CPR Pfd crowsnest Ind Cygnus A Cygnus B Cum Prop Gt Cdn Oil S j.-u Gt Cdn Oil 6.75 100.00 Home A ffl.50 Home B Horne Pitfld Hud Bay Co Hud Bay Oil Hud Bay Pfd 57.CO Hugh Russell 21.50 Husky Oil B 44.40 Husky Oil War 9.10 Inter Prov Pipe 1225 Intl util Pld 36.75 Inter steel Pipe Jefferson Lake Joutel Kaiser Res Kotia L Ont Port Cem MGF Manage 39.50 Mentor 12 Newconex 7m Pacific Pete Rank Org Sulk Hold Shell Canada Shell Inv Pfd Shell Inv Wts Sick Rainier West Cdn Seed wnite Yuk CALGARY Acroll Ana Pete Barons Oil 1 3a North Cont 59 Plains Pete .41 west Warner .40 35 00 Madison .35 1 92 Rexdale .15 PIPELINE STOCKS Alta Gas Tr L A 47.75 Alta Gas Tr L Pfd 76.00 Alta Nat Gas 2-t.oo Cdn W Nat Gas 16.i2V'3 Inland Nat Gas 12.25 N and C 15.75 N and C B Pfd 32.75 Gaz Metro 4.75 Gas Metro Pfd A 63.25 Tr Cdn PPepld a'.w ty'tton Minerals 9.12Vi Tr cdn P Pfd A 63.00 Cronin 28.00 Tr Cdn P War New Imp Mines Westcoast Tr 24.87'A Okanagan Helicop 7.50 western Pacific 4.90 15.50 MUTUAL FUNDS 5.40 AUF Special 2.57 Silver Stand All Cdn Com 7.65 8.36 Texmont All Cdn Divid 8.78 9.59 Forest industry threats seen t_i. j: Arctic AAInlng Atlas Explor Beth Copper Bornite Ridge Block Bros Brenda B.C. Sugar .52 B.C. Sugar Pld .10 Capt Inter .06 Churchill Copper .02'.3 Col ell Coronation Credit .53 .11 4.35 655 17.50 15.50 5.00 1.00 6.25 1.15 restbrook Fr Ind t.50 37.50 16.25 27.00 Croyden Dynasty Endako Fort Reliance Giant Mascot Granisle i Key Indus! Growers B Hys Interior Brew Jericho Kamloops Copper .23 4.90 15.00 .50 4.35 10.25 .26 2.75 6.15 2.15 .08 1.32 4.35 .16 JE.50 All Cdn Vent" 3M Western Mines 205 Amr Gr Fund 5.27 5.79 Westcoast Res 16.87'A Cdn Invesl F 4.43 4.65 Western Explor 41.87V2 Col Mutual 6.05 6.65 Utica Toronto mines, industrials Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Ouotts) Oumtsl a.m. Quote.) INDUSTRIALS Abitibl Alcan 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 Co! Cellulose Cal Power Coron Credit C.W.N. Gas Cdn Indust Canada S 5 Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bath Cons Gas Dist Sea Dom BrldgS _ Domtar Dom Textile Dom Stores Dome Pele Fsm Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oi! Cda Hawker Sid Huron, Erie Hiram Walk Imperial Oil imperial Tob Int Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Uaurentide Kelly Doug A Loeb Loblaw A Metro Stores AAassey Ferg R.OO Moisons A Molsons B North, Cent pambina Pp 15.00 Power Corp 9.00 Price Co 7 50 Rothmans 5t Law Corp 17.50 Shell CDA W.50 Simpson's Simp Sears 23.62VJ Steel of Can 17.50 Selkirk A 4.65 Texaco 7.62W Traders Gp A 5.25 Trans Mtn Pp Trans Can Pp Union Gas Union Oil Versatile Mfg Westeel Union Car ____ Weston's B Woodward's A 17 West Cdn Ed 71.50 Zenith Elec 52. M BANKS JS'Si, Can Imperial Montreal Nova Scotia 16 East Maiartic 1600 East Sullivan Falconbridge 23.62V2 Frobex Giant Y.K. 8.50 BoviS 12 00 Granduc Headway R.L. Holllnger Hudson Bay M-S 25.00 Hydra Ex. Highland Bell Iron Bay 6.5S 25.75 1.30 10.50 12.00 30.00 -US 19.00 34.25 18.55 23.50 26.50 10.50 30.00 10.75 21.75 32.55 15.50 42.00 3.75 11.00 19.00 19.75 3.50 1.40 l.OS 3.70 135.50 .37 9.75 1.85 6.80 13.00 37.50 MONTREAL (CP) W. Wilson of Toronto, retiring pres- ident of the Canadian lumber- men's Association, said here the multiple use of forest areas is just as important to the lum- ber industry as is its coowra with competing substitute mate- He told the 63rd annual meet- ing of the association the forest industry is facing "an increas- ing harangue from the recrea- tionalists and those who ally themselves with them." Mr. Wilson, of Robertson, Stark and Holland, said that On- tario's forest industry alone is worth billion and employs between and peo- ple, providing about million in earnings annually. If responsible authorities lis- ten to the cries of the conserva- tionists, he said, "we will have decaying wilderness because you just can't let tree crops grow forever, they must be thinned out." Furthermore, he said, the conservationists have no solu- tions about alternate employ- ment for those who livelihood would be cut off. "They can't consider anythinj other than their own persona selfish motives." The majority of those con ducting forestry operations, said Mr. Wilson, are conscientious and aware of their obligations to future generations. Turning to the increasini competition from substitute ma terials, Mr. Wilson said "we must concentrate in a deter mined effort to sell our products on an equal footing with our competitors." "We must face up to the need for more effective collective ac tion." Plastics are giving the orest industry a hard time now, j They researched and expert rnented. "They put a protective coat- ing on their products and now "It's been getting succes- vely harder for the last 10 years. You can't easily tell better furniture is made from plastics or with wood." Non-wood wall panelling with Imitation wood grains is making extremely difficult for the plywood industry, said Mr. Wil- jn. Hardwood flooring lost out to tile and lineoleum, then these materials lost out to wall-to-wall irpeUng and similar soft-floor coverings, "dragging our mar- ets down still further." The catch phrase "mainte- nance-free" was then applied gainst wooden windows, doors axi siding. Recent figures state orest products now have only hree per cent of the siding market in new construction, own from 100 per cent. "An image was created in the minds of buyers that wood was old said Mr. Wilson, "But aggressive wood window manu- acturers now are fighting back. -ISO 51.B7V2 20.25 MINES Jly" 254 Oct 257ft Nov Rapeseed Vancouvp Mar 320 May 292% 290 Jly Sep 257 252 319 271% 15.75 11.00 87.50 Acme 10.50 Advocate Asb. 55.00 Akaltcho 5 30 Area Mines 82.25 Black Bay 20.75 Bralorne 21.00 Broulan 2 40 Bethlehem 20 Brunswick 39 00 Canada Tung. 19.00 Casslar 17.00 Central Pat. 44.75 Chtmo Conwest 825 Cons. Rambler 36.00 Coin Lake Coctienour 7.62V3 Craigmont 5.12'A Dickenson Mines 3 BO Denison Mines Deer Horn D'Eldcna Dome Mines Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leitch Langis Silver Madsen R.L. Maiartic G.F. Martin McNeely Maytrun Maclntyre Meta Intern Mogul New Athona calumet Naw imperial Noranda Northgate Opemiska Osisko Patino Pine Point Placer Dev. P.C. Exp. Quebec Man Rayrock Radiore Rio Algom 3.15 3.50 1.70 .21 9.90 .33 34 50 3.20 1.55 .12 .75 .90 9.50 .13V3 127.00 .30 .16 .29 Beef futures WINNIPEG (CP) Th Winnipeg beef futures marki Tuesday was inactive with bit at prices 15 to 20 points under previous close levels but n offers. Monday's volume of trade was eight contracts. Mar May Jly 19.50 -07 1.57 .OSV'a 2.25 .2? 14.75 J.EO 2.34 Reran" Corp. Moore Corp 5.00 32.50 12 00 27.00 35.00 Discovery Mines ShDrritt Gordon Silver Miller Steep Rock Siscce Tek Corp. Texmont Upper Canada Western Mines Wright Har. Willrcy Windfall Yellowknife Br. 1.05 Zenmac 28.75 .03 .79 6J.OO Open High Low Clos 32.90 32.00 31.25 are winning back dissatisfied accounts who are fed up with problems of metal and alumi- num." Livestock Addiction can be controlled CHICAGO (AP) A doctor says heroin addiction and re- lated crime can be controllet through metnadone mainte- nance programs. Writing in the current issue o the Journal of the American Medical Association, Dr. Vin cent Dole of Rockefeller Univer sity of New York said: "Enough research has been done to show how heroin addicts can be treated successfully. "If we apply what we know now, effectively and on a larg scale, we can begin to contro heroin addiction and relatec crime in our large cities." Methadone, a chemical syn thetic capable of producing ad diction, has been found useful ii aiding heroin addicts to with draw. Dr. Dole said forme heroin addicts now are on meth adone maintenance programs in the United States and Canada. Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 120 cattle. Receipts mostly slaughter teers. trade active. Good and tioice' butcher steers meeting mproved demand at steady rices. No strictly choice kinds n offer. Good and choice lutcher heifers scarce and sell- ing fully steady. Medium and ood cows strong to 50 cents ugher, bulls steady. The very ew replacement cattle on of- er'were of plain quality and sold about steady. Low choice steers 31.25 to 1.50; good 30.50 to 31; medium 28 to 29.50. Choice heifers 29 to 29.50; ;ood 28 to 28.75. Good cows 19.50 to 20.50; me- dium 18 to 19; canners and cut- ers 14 to 17. Good bulls 23 to 24.50. Medium heavy feeder steers 28 to 30. Butcher hogs sold Tues- day f.o.b. Lethbridge 22.40 to 22.65 base price. Fifty hogs sold for export price converted to 18 live- weight. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about 625 head mostly mixed classes aw grades of slaughter cattle Trade was active to strong. Slaughter steers were in short supply and sold full steady; heifers were full steady; cows were steady wit heifery kinds to 21.50 and bulls were steady. Choice slaugher steers 31 to 32.10, good 30 to 31.25, me- dium 29 to 30. Choice heifer 29.25 to 29.90, good 28 to 29 medium 26.25 to 27.75. Good cows 19.50 to 20.50, medium 18.50 to 19.50, canners and cu ters 16 to 18. Good bulls 23.5 to 25.50. Replace ment cattle were scarce with most of the offer- ing steers weighing more than 50 pounds and selling at t e a d y prices. Insufficient ock calves offered to estab- ish a market. Good feeder steers more than 750 pounds 30 to 33. Good :ock and feeder cows 18 to 23. Hogs base price 22.10. Lambs were lower Tuesday good kinds 26.25 to 27. Hog prices EDMONTON (CP) Prices o 11 a.m. provided by the Al- lerta Hog Producers' Market- ng Board: Edmonton: Quoted 22.25 to 22.35, selling 22.25, average Tuesday 22.40. Red Deer: Quoted 22.25, sell- ing 22.25, average Tuesday 22.39. Calgary: Quoted 22.10 to 22.50, selling 22.10, average Tuesday 22.47. Lethbridge: No market. Av- erage Tuesday 22.51. Lloydminster: N o market. Average Tuesday 21.65. Total hogs sold to 11 a.m. 316. Sows selling 13.25. Total hogs sold Tuesday 929, average 22.36. Dividends By THE CANADIAN PRESS British Columbia Packers Ltd., class A 37% cents; class B 50 cents; both March 15, record March 1. Chrysler Corp. Ltd., 15 cents (U.S.) March 10, record Feb. 19. Distillers Seagrams Ltd., 30 cents, March 15, record Feb. 26. Investors Group, common 20 cents; class A 20 cents, both March 31, record Feb. 26; five per cent pfd., Wi cents, May 3, record April 15. Pembina Pipe Line Co. Ltd., five per cent 1st pfd., 62H cents, March 1, record Feb. 15. New York stocks Supplied by Richardson. Securities ot Canada Rapeseed Thunder Bay 31 290% 279 Apr Jim Oct Oafs May S6r Jly 86' Oct Barley May "133 Jly Oct Ryr, May 118 Jly Oct 314 315 278 86'.i 86'i 13212 117' 132Ta 131 12551 117 tory occupied in the 1967 war, "a just solution to the Palestin- ian problem" and a formal dec- laration renouncing the use of force, territorial occupation and expansionism. The note agreed to provide Jarring with a declaration of Egypt's intentions and promised a pledge "to uphold responsibili- ties stemming from the execu- tion of the resolution" if the promise is obtained from Israel, says the semi-official news- paper. ASKS DECLARATION Jarring's proposals asked for declarations of intent from Is- rael, Egypt and Jordan, holding indirect peace talks via him at the United Nations in New York, and asked their views on how to bring peace to the re- gion. It also gave the Swedish diplomat's ideas on a satisfac- tory settlement, which is under- stood to include Israeli with- drawal from the Suez canal and the Sinai peninsula and station- ing of UN soldiers at Sharm el Sheikh, at the foot of the Sinai, to safeguard Israeli shipping in the Gulf of Aqaha and the Strait of Tiran. The Israelis have made clear that they plan to retain some of the occupied territory and have refused to withdraw at all with- out a peace treaty. Israel also doesn't Amr T and T Anaconda Bin Steel Chrysler Comsat Dupont General Motors Golf Int Harvester Kenn copper 20 Golds 180-88 up 2.07 10 Base Met 94.05 off .19 52 Ward 36.75 Sears 80.25 22.50 Std Oil of N.J. 73.00 ,s w 209.67 off 1.57 lo'ST Tex" Co 6 KNEW YORK AVERAGES WMlworth 30 Indust 887.12 off 2.94 sfsisrH9C ass s II and out pops a baby whlch reas j doesnt want peace guaranteed the smiling bio by outsid" troops. sh j I Minister ,d WINNIPEG (CP) Maritime potato futures mar- ket was inactive Tuesday. Offers at current levels to two points higher met no buyers. Monday the market was in- active. Riad of Egypt pressed the Cairo I representatives of the Rig Four j powers Tuesday on guarantees for peace, including a peace- keeping force. Soviet. U.S., Brit- ish and French diplomats are to uliciiss the question in New York Thursday. Mar Apr May Opcn High Low Close 2.45M 2..VIA WORLD'S DEEPEST Railway construction crews have excavated nearly 100 feet beneath a Tokyo plaza for a new railroad station Japanese National Railroads say will he 2.BBN I the world's deepest. PARIS (AP) dolls who only wet their pants or croak "mama" got a grownup new toy pregnant doll that turns any- body's eight-year-old into an obstetrician. The child just pulls down on a zipper running along the blue-and-white trousers of the "future mama and out pops a baby. The doll was unveiled at the Paris toy show. "It's an educational toy, de- signed to demystify child- said Andree Gesset, spokesman for Pintel, the manufacturer. "We've found that about nine out of 10 people who've seen it think it's in good taste. "The rest complain that it's not necessary for kids to know where they come from, but our attitude is that with men on the moon, you can't keep saying that Jacques' baby brother was left in the cab- bage patch by a stork." The baby is a unisex child which looks' reassuringly like blonde mother. bright pink doll's maternity dress over her trou- sers. Once into the world, the lit- tle baby doll cries if you squeeze it. Mrs. Gesset said that most children who played with the dolls "considered the whole arrangement with such natu- ralness that it shames any adult who is troubled by the notion." The doll sells for Dollar value MONTREAL (CP) U.S. dol- lar in terms of Canadian funds down 1-16 to SI .00 25-32. Pound sterling off 3-16 to 11-16. NEW YORK dollar up at in terms of U.S. funds. Pound sterling up 23-64 at 31-32. Simpsons-Sears earnings drop TORONTO (CP) Simpsons Ltd. reports earnings down 15.8 per cent with the major factor being a shnrp drop in earnings from its partiaUy-ov.Ticd subsi- diary, Simpsons Scars Ltd. Simpsons Ltd. has! sales of in 1970, up 6 10 of one per cent from in Net earnings of 1970 or cents a share, compared with 000 the previous year, o- 98 j cents a share. Simpsons Ltd. earnings from its equity in Simpsons Sears totalled in 1970 com- pared with S.'WS.noa in 1969. Simpsons-Scars had earnings of in 1970 compared with in 1069. JOIN US IN THE SEARCH! Recent discoveries in the high Arctic have doubled Canada's potential hydrocarbon reserves. Since 1960, Tanner Arctic Oil Ltd. wholly Canadian has held choice properties in this vast and promising land. Now the search is on. If you are a Canadian, we invite you to join us! TANNER ARCTIC OIL LTD. Offering shares without normal or par value at per share. These are speculative securities. OPENS PLANT LUANSIIYA, Zambia (Rcu- trsr) President Kenneth Kaunda officially opened Tues- day a new factory producing copper wire and cable. It is the first manufacturing industry in Zambia using the metal as raw material. Zambia is the world's third-largest producer of cop- Note: Shares will not knowingly be sold to non-Canadians! For further information, mail in the coupon below or phone 422-6577. -------------------------------------------------------------------1 1 To: Tanner Arctic Oil Ltd. I 509 Imperial Bank Building Edmonton, Alberta Please send me a copy of your prospectus. t I NAME------ I ADDRESS TANNER ARCTIC OIL LTD. 509 Imperial Bank Building Edmonton, Alberta ;