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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 17, 1972, Lethbridge, Alberta ad in gas fie CALGARY (CP) Petroleum industry associations have requested early adjournment of hearings into Alberta natural gas field pricing scheduled hore Feb. 24. In briefs submitlcd lo Ihe Alberta Energy Resources Board both Ihe Canadian Petroleum Association and Ihe Independent Petroleum Association of Canada seek early adjournment. They say Ihere has been >ld price I adequate limo between notice of hearing and Ihe hearing date to deal with complex factors involved in gas pricing. CPA says it has hired the Stanford Research Institute to prepare a study on gas prices in relation to thp total energy picture and rcsulls would be incorporated in a later brief. UiVDEIlPIUCED The initial briefs from bolh associations suggest that natural gas is seriously under- Stock me in early TORONTO (CP) Prices on the Toronto stock market continued their upwarc.1 trend as most sectors recorded gains in moderate mid-morning trading today. The induslria index was up .29 to 198.67, golds .M lo 174.35, base metals .43 lo 8C.42 and western oils .50 lo 214.21. Volume by 11 a.m. was shares, down from at the same lime Wednesday. Advances held a wide margin over declines, 139 lo SO, with I'M issues unchanged. General manufacturing, real estate, steel, cliemica oil refining and banking slocks posted moderate gains. Communications, food processing, paper and forest and utility issues drifted lower. Chrysler rose lo Dome Pole lo Placer up trading Ranger to Bras-can to Du Pont to Canada Permanent Mortgage to Falconbridgo Copper lo Rank 'A lo nnd Inco to Sffi't. Federal Grain fell 1 (a Trans Canada Pipelines '4 to 540, Bloe-M to and Hollinger to MONTREAL (CP) Prices plugged along uncertainlv in light trading today on Uie Montreal stock market. On index, papers dipped 1.14 to 86.89 and .53 to 257.17 wliile industrials rose up .85 to 199.71. the composite .62 lo 200.43 and utilities .40 to 165.87. Volume by 11 a.m. totalled 315.000 shares, compared witli at the same time Wednesday. Credit Fonder gained I'.i to 71Vz, Brascan lh. to Dome Petroleum 'i to 531, Canadian Inlerna ional Power Vz ID S27, Faleonbridge Nickel to Du Pont '4 lo Texaco Canada 'i lo Shell Canada !2 lo and Stelco Vi to k. Border Chemical lost 1 lo B.C. Forest Vz lo Mac-Millan-Bloedel lo and Bank of Commerce lo quotations Vancouver, Calgary, Montreal (Supplied hy Doficrfy, AfcCaaig Limited) LAST BID Oil SALE a.m. QuolesJ a.m. Quotes) a.m. Quotes) WESTERN OILS Hud Bay Oil Pld 5350 In AAulual 5 72 36 Almlnex 5.75 Hugh Russell AAul Accum fi 33 Ala Eaal Gas 400 Husky Oil Mut Gr Fund i.Bd U.OO Mushy Oil War 6.25 tJW Finance J.E7 South 5.65 inlcr Prov Steel 9.12Va Growth 4.59 5.0. Cdn Ex Gas 3.60 Kaiser 3 B5 Royfund 6.22 fi.dB Cdn Homcsttf MGF Manage 1 dO Growftj 6.2-i Cdn Home Pfd 16.75 Pacific Pete Hn 5-jH 5" Cdn Ind Oil 1000 Rainier 5.B7V. Un Savmqs 7'99 S'7fl Cdn Lnng Is .fiO Teledyne 5.00 VANCOUVER Cdn Super 41.25 West Cdn Seed 5.75 MINES Charier 5.00 While Yukoi 11.50 .35 Chetlan 9.00 CALGARY .13 Dome Pele Acroll .50 Gl Plains 25-25 Barons Oil .05 I'll Gt Cdn Oil 5.30 -IQ'A church Connnr 4'll Lochiel 1.60 North Cent .WVi rrcvSJ-i North Cdn Oil "S 'West Warner .5, 1m Numac STOCKS Dolly Varden 13 Pan Cdn Pels 16.00 Gas Tr A 54 00 Dynasfy 7 50 Pan Ocean Gas Tr Pfd 79.00 Far' Rc-liance 3B Petrol 1.30 Gas 31.50 Gianl Mascol i 85 Pinnacle .53 Mat Gas 15.75 Granislc Grain prices Winnipeg .68 Nor and Cent B 39.00 Lorncx fluctuated narrowly on a light volumnc of trade at mid session today on the Winnipeg Grain Exchange Wednesday's volume of trade was bushels of flax, 132.000 of rye and of rapcseed. MID-SESSION PRICKS: Flax: Jlay lower July higher 2.63; Ocl. Va higher Nov. unchanged S.fJS'jA. Rapesccd Vancouver: March lower 2.54; June lower 2.51A; Rep. 'i higher Nov. not open liapeseed Thunder Bay: May lower July n.i lower Oct. and Nov. not open. Oats: May unchanged OIKijA; July unchanged Oct. nol open. Barley: May, July and Oct. not open. Rye: May higher July Vi higher Ocl. not open. High Low Close Flni May 269 Jly 265'i Oct 2GB Vz 2C5-11 268 Nov 268 Vi Rapesccd Vancouver Mar 252 2S5'4 Jim 251 'a 249 Rain 17.00 Gaz Metro 6.25 Primer 16 Spooncr 1.10 Gai Melro A 6B.25 Pyramid 37 5e bens 8. 85 P pe f.0.25 Silver Stan 1.26 Total 6.60 Trans-Cda P pe B il.25 Texmonl ,ia Ulster 1.55 Tran5-Cda P pe A 73.75 .22 W Decalla 630 Trans-Cda P War U.OQ Valley Copper B.75 Weil Pele Trans 30'50 Res INPUSTRIES MUTUAL FUNDS Block Brolliers 3.60 AnnaMine It. 75 Al1 cdn corTl B.t2 B.C. Sugar 30.25 Agualaine All cdn Divi 9 J2 10.51 B.C. Sun.r Prd 1625 ?Hn Brow i 11 m Al1 cdn CaH Mler J 75 rnn B iJ'SS Gr Fa '-'S Fnr r5 1 v AGF 5Pecial Growsr'L "B" 3.65 Cdn Pacific Inv 2575 cdn Fund j 03 5 5, K M Crowsnesl Ind 2H.OO Coll IBlulunl 665 7.30 Hys 3.30 Cygnus A 6.50 Comm mier 1J.2I 15.62 Inl Breweries 3.80 B Comm Lev 377 4.1.1 Inler Mariner 72 Falcon Copper Corp In 5.9B 6.53 Pac West Air YORK (AP) The stock market held moderate gains loday in aclive trading. The noon Dow Jones average of 30 industrial stocks was ahead 3.51 at 926.83 Analysts said today's advance was a continuation of Wednesday's strong gain, molivaled in part by favorable economic news. Among Canadians on the New York Slock Exchange, Hudson's Bay Mining al and International Nickel al bolh advanced 3i. Distillers Ssasrams was up lo and Walker Gooderham !i lo S16''3. Dome Mines declined to and Mclntyrc Porcupine to On the American Eloek Exchange, Brascan Lid. gained -la lo and Canadian Marconi U to Noon prices on Uie NYSE Included Chrysler, ahead at Mattel, up I'.z lo Reynolds Industries, up al S68Vz; and Williams Co., up to A 34.00 Drey Fd U.S 12.91 N.15 OILS Home B 33.50 or In Shares 3.30 J.29 Albany Oils Bay Oil 43.50 In Gr Fund Toronto mint (Supplied By Richardso TART BID a.m. Quoles) a.m MINES Norlhoalp Acme 30 50 Osisho Advocate Asb. 1.7B Pine Pcinl Akailcho 55 Placer Dev. Bralorne 2.75 Royrock Brculsn .34 Radiore Brun5v.-ick 3 10 Rio Algom Cassiar 17 Roman Ccrp Cenlral Pal. 'BO' Sherrill Gcr Chimo i'ia Silver Miller 7 ED SICDD RocH Cons. Rambler 1 65 Tek Corp. Coin Lake 75 Tcxmcnl Cochenour "37 Upper Canac Dickenson Mine 115 Western Mn Mines 38 25 Wrirjht Har Deer Horn 04 Willrov D'Eldona Windfall Domp Mines 64 01 Yellcwlinile 07 Zen rr ETC Discovery Mines T( INDUS! Fasl Afcilibi Easl Sullivan j'gj 12.10 West Ejrplor .17 >s? industrials n Scciirilics of Canada) on SALE Ouoles) (ll-.CO o.m. QuolES) 5 Gpn Wnlors 79 10 .35 Gl Lakes Pap 17.75 j TuH Oil Cd 26 37 Vj 27.75 Gicvliound 17.50 1.33 Sirl 3 60 75 Hiram Walk 6.EO Imporial Oil n.37'3 don 13. Int Nickel 32.50 .W.'i Inl Pipe 32.00 2.2? Inv C-T A 10 4.S5 Inl UfflHies .-.fl.eT .50 Attepl 31.50 a S.ni 1? 75 es !0 Kelly Doug A 4 00 weaves 2.70 .95 W.slro Store 17 iO 09 W.asFpy Ferg V '0 Bsar J :5 [Zloa 25 TTV: cost ore thnn million EDMONTON (CP) -One specific cost lo Albertans lhat occurs only once every four years or so was contained in the province's inlerim financial statement released loday. The August. 30 general election cosl SJ. All (he bills may nol be in, however. The elcclion administration was financed through a special warrant passed by cabinet of mi Nov 245 Rapesced Thunder Bav May 2371s Zm-4 Jly 23C3i Oct 238 Nov 2JO Oals May Jly on-! Oct 70 Barley May ,V.clscns A 72 :7V: P 50 Morons R 25 75 30.1 TJ-rlh, Crnt 13.75 33 Alco Ind 10.7.S Price Co 7.75 First Marilimes 75 Allan Sugar -1.03 Roihmans IP.lJ'j Giant Y.K. g EO Bell Tel id.lWi St Law Corp 7100 Eovis 230 Burns U.75 Shell CD 34.25 Granduc j jo B.C. Fcrc-st 35.CQ Ex i? CH! Power 27 CG Trans AMn Pp 21. -SO iron Bay Coron Credit 1.25 Trans Can Pp 'so C.W.N. Gas 11.35 Unian C-as 13 Joliet Que 35 Cdn 15 -D Union Oil 4? Kcrr Adriison B Canada S S iQ.OJ Vcrrslile Mtg Key Anacon .n Cdn Merccn 3.30 Wcslcc! 2? Jly idfl'z Oc'l inj'i Rye May 99 an's Jly SS'j .15 93 Oct Shore :.70 Chrylser 31 B B 00 AAadsen R.L. .65 Corv.Intn 25.75 Wrrdward's A 1 G.F .73 Cnns Fialh P..'0 West Crin Sd Warlin WcHeely 09 Cons Gas U.'O Zenilh Elcc .EO Mela 12 Dist Sea 1650 Dem Bridge 2i 25 BANKS Intern Mcgul Dcmtiir 13.5S Can Imperial 39.00 New West Home 955 Dam Stores 1 5.77 Vi Montreal 22.00 New Calumet '11 Demo Pole 6' CO Nova Scotia .Nsranda 37. 2S Drtfrscn 37.17V3 Royal ?2 fO Norlox .27 Gt Cdn Oil 5.10 Tor-Dem 34.75 New York stocks (Supplied By Richardson Sccuritirs of Canada) Amr T and T Sears 20 17MJ un 2.73 Anc.contla 19.12'j Sfd Oil cf N.J. 27. Ii 10 P5.47 up .68 Belli Steel :i.J7'j TcxflS Cull IF.CJ 15 V.'oM O'lS 214.35 up .67 Chrysler V.'icks Ccrp .wrocrrc DbPOnl Hl.35 NEW AVERAGES Ten fttolors V.Y'.I 4'. 3D 'nrf up 2.70 Gull 3i.7S US Sled ?2.75 2T Rails 354.11 L'p 1.12 Int Harvester 3U.1S TORONTO AVERAGES 15 Uiil 11215 LP .73 Kenn Copper ?fi.50 3D Ifld 159.32 up .94 Stccks up 1 By Gene Fawcetle CHANSE TOIR PERSONALITY BY TOUR VOICE! THIS NEW THEORY STATES THAT THE "GOOD AND BAD" OFAPERSONALITVISAL-WAYS REVEALED BYTHH VOICE-ITS VOLUME AND SUBTLE TONALITIES CAN NOW BE ANALYZED BY ELECTRONIC INSTRUMENTS. wice-cHANse fao-GRAM MAV saw Be AN prices EDMONTON (CP) Average prices lo 11 a.m. provided by (he Alberta Hog Producers Marketing Board. Edmonton: 28.70; average Wednesday 29.07. Red Deer: 28.70, average Wednesday 2S.04. Calgary: 28.65, average Wed-icsclay Lclhbridgc: Nil, average Wednesday 29.03. Lloydminslcr: Nil, average Wednesday 28.66. Total hogs sold 78S, total ings sold Wednesday iv-crage 23.02. Sows average 20 WE CARE 1 PACIFIC PETROLEUMS LTD. hos o successful bulk plant in Ihe Cily of Leth- 5 bridge and is lookinq fo ran energetic jj and ambit ioL-s AGENT who desires lo I gel into business for himself. Previous experience in this field would If be an advantage. However, all appli- fl calions will be considered. !j Some capilal required. Ti uck financing ij ovailable. Con act: LLOYD COATES or LES TODD Telephone: Cnlgnry 268-6479 Lethbridgo 328-6466 or Wrile; P.O. Box 6666, Calgary, SOUNDS All musical instruments used by the na'ivcs of Madura, Indo-icsia, are made entirely froin .he leaves of coconul LEASE... From your Franchisee] New Car Dealer Boiler Servico Facililick More Flcxiblo Icaiing Regular Warranty Plani Inspections Your loasft cnn Include Better choico of modal) mninlcnance, licence, nnd inturance INQUIRE NOW INTO THE ADVANTAGES OF LEASING OVER BUYING Contact BORIS KORESHENKOV Beny Automotive Enterprises Ltd. 2 Avonuo and 8lh Slreot S. Phone priced in relation lo market value and now has become A premium fuel. CPA says higher prices arc needed lo stimulate exploration and ensure future reserves and that moderate price increase now would result in long-terra economies. Its brief says federal controls on gas prices in the U.S. failed lo recognize the competitive world of gas in relaticn to other fuels, growth in demand and the rising cost of finding new reserves. The brief suggssts that an increase in natural gas price? would bring substanlial bene- fits to the Alberta economy. "On the current proved re- serves alone, each one cent per million cubic feet added to field value would increase gross worth by S400 million. Of that, the Alberta government royal' ty share would yield, at 16.67 per cent, some more. "With cash flow from bonuses and lease rentals added, each one cent per million cubic would likely yie'd Ihe treasury a minimum of million in direct cash retum Ihrough Lhp years of production." Govt. may move NEB to Alberta CALGAHY (CP) The fed- eral government is giving ser- ious consideration to moving the National Energy Board to Al- berta from Otiawa, says Art Dixon, former speaker of the provincial legislature. The Social Credit MLA told a panel discussion here he has It "on good authority" that the move is being considered. However, a spokesman for Energy Minister Donald Mac- Donald in Ottawa said: "The minisler does not know if there is any to that. The subject has not come up." Mr. MacDonald recently look- over the energy portfolio in a cabinet shuffle. million profit for GM TORONTO (CP) John D. Baiter, president of Genera] Mo- tors of Canada Ltd., announced here that the company had a net profit of ?BO million in 1571, compared with a loss of million Hie year before. It was the first lime the com- pany disclosed its financial re- sults. Mr. Baker said 1971 sales of cars and trucks were CB8.4B9 units, "more than double the sales level of seven years ago.'1 The 1971 sales were bil- lion, 79 per cent above 1970 when operations wc-ro hindered by a strike of the United Auto- mobile Workers Union. Under new Canadian law, many large privately owned companies, whether foreign- or Canadian controlled are re- quired to report financial re- sulls lo Otlawa. General Motors of Canada is wholly owned by its United States parent ccmpany, Gen- eral Motors Corp. Livestock Calgary livestock CALGARY (CP) Receipts to 11 a.m. today on the Calgary livestock market totalled head; mostly slaughter steers and heifers. Trade was active to a broad demand. Slaughter steers sold fully steady with two packages of strictly choice chariois steers weighing to pounds, selling at 35.30 to 35.10 respec- tively. Heifers were steady. Medium and good cows sold 25 to 50 cents lower, canner kinds steady. Bulls steady. Choice steers 34.50 to 34.90, good 33.75 to 34.50, medium 32 50 to 33.50 Choice heifers 32 to 32.80, good 30.75 to 31.75, medium 29 lo 30.50. Good 53 to 24, medium 22.25 to 23, canners and Cillers 20 In 22.25. Good bulls 25.50 lo 27.50. Replacement cattle were mostly short-keep slcers weigh- ing about pounds and sell- ing steady. There n-cre no stock calves on offer early. Good feeder steers under 7so' pounds 37 to 41, 750 pounds up 33.50 to 36. Hogs average base price 20.65. Lambs sold h'gher Wednesday. Good lambs 25. hbruary 17, 197Z THE LETHBKIDGE HERALD 19 B.C. suit called moonshine' By THE CANADIAN PRESS A contention by the British Columbia government thai fed- eral equalization payments lo the provinces are unconstitu- tional has no grounds at all ajid is based on imagination, says Senator Eugene Forscy. Sen. Foreey, an acknowledged expert on constitutional law, called the suit threatened by B.C. Attorney-General Leslie Pelerson "puro moonshine." The province has said the payments violate the equal- treatment principle of the Brit- ish North America Act, a princi- ple Sen. Forsey said is non-exis- tent. Federal subsidies lo the provinces have been unequal since 1867, he said. "I can't imagine any lawyer who values his reputation taking (he case. He'd need Ihe skin of a rhinoceros and Ihe head of an ostrich." The equalization grants come from federal general revenues, the general pool of funds raised bv all forms of federal taxes. They are calculaled by a for- mula based ori a national aver- Ege of provincial revenues from 16 sources of provincial tax money. Payments then are made to the seven provinces which fall below the national average. The effect Is lhat lax reve- nues from Ontario, Alberta and British Columbia are distributed among the oilier seven prov- inces. The B.C. statement (hat it will challenge the payments in the courts drew no sympathy else- where. In St. John's, Nfld., Finance Minister John Crosbic said his province wculd have to "close up shop" if Ihe payments were ended. Newfoundland receives more than million annually in payments. ONTARIO WON'T JOIN In Toronto, Ontario Premier William Daws said his prov- ince is "not contemplating a similar suit." "We agree with the principle of equalization. We've never disputed it." In Quebec City, Premier Rob- ert Eourassa issued a state- menl saying the B.C. move shows signs of separatism. Manitoba Premier E d Sehreycr said the B.C. position runs counter to (he federal sys- lem. "It strikes me tliat just about every developed federal state in the world has some form of equalization payments lo offset at least in part (he disparities in per-capita he said. In Re gin a, Saskatchewan Premier Allan Blakeney said he sees no basis in law for the B.C. assertion. In Edmonton, a spokesman in Premier Peler Lougheed's office said no statement will be made before Monday. Dividends By THE CANADIAN PRESS Canadian Cablcsyslems Ltd., seven cents March 30, record March 10. Hudson's Hay Oil and Gas Co. Ltd., series A pfd. cents April 15, record March 30. Imperial Life Assurance Co. of Canada., S1.40 April 1, record March 9. G Tair.Myn Ltd., common 20 cents: pfd. 50 cenls, both April 3, record March 17. Wcslcr-l-Rosco 18 cents March 15, record Feb. 25. d 1003 4th Avenue S., Lothbridge Telephone 328-4426 PART IV PICTURE QUIZ 5 POINTS As Prime Minister of the Irish Republic I am deeply concerned with the recent developments on the other side of the border In Ulster. HOW DO YOU RATE? 91 lo 100 polnli TOP SCORE! 71 to 80 pointi Good. 81 to Wpoinll-Excilltnt. olio 70 poinli-Fair. MOT FAMILY DISCUSSION QUESTION Do you think that there Ehould be n limit put on foreign Investments in Canada? Save This Fraclicc Examinallon! STUDENTS Viluabls Roference Material For Eximt. YOUR NEWS PART I NATIONAL AND INTERNATIONAL Give yourself 10 points for each correct answer. 1 Great Britain has recognized the nation of Bangladesh. True or Talee? 2 The largest volcano ever found IB on a-the Moon b-Mars c-the Island of Hawaii 3 The Agricultural Minister of Canada Is 7 a-H. A. Olson b-Dr. Gordon MacEachern c-Mltchell Sharp 4 the Common Marker. a-Canada b-Great Britain c-Italy 6 Finance Minister John Turner that MB goal was to provide a Job for everyone who Is willing and able to work. True or False? PART II WORDS IN THE NEWS Take 4 points for each word that you can match with its correct meaning. a-fisedom from punish- ment b-attr.ck with words or argument c-take control of avehi- clc by force d-unannounced, selec- tive work stoppage e-perfect, beyond crltl- 1.....hijack 2.....rotating strike 3.....Impeccable 4.....Impugn E.....Impunity cism PART III-NAMES IN THE NEWS Take S points for names that you can correctly match with the clues. 1.....Georges Pompidou 2.....Karen Mngnussen 3.....Brlnn Faulkner 4.....Reginald Maudlin; E.....All Bhutto 5-M72 fl-Premier of Northern Ireland b-British Home Secre- tary c-Ciiiitullan Olympic fi- gure skater d-President of Frnnco c-President of Pakistan VEC, Inc ANSWERS ON OPPOSITE PAGE ;