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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 17, 1972, Lethbridge, Alberta ad in gas iid CALGARY (CP) Pelro-.eum industry associations have requested early adjournment ol learings into Alberta natural ;as field pricing scheduled lore Feb. 24. In briefs submitted to the Energy Resources Board the Canadian Petroleum Association and the Independent Petroleum Association of Canada seek early adjournment. They say there has been dd price h adequate time between notice of hearing and the hearing date to deal with complex factors involved in gas pricing. CPA says it has hired the Stanford Research Institute lo prepare a study on gas prices in relation to the total energy picture and results would tw incorporated in a later brief. UNDEKPRICED The initial briefs from both associations suggest that natural gas is seriously under- Stock ma in early TORONTO (CP) Prices on the Toronto stock market continued their iipwarc' trend as most sectors recorded gains in moderate mid-morning trading today. The industrial index was up .29 to 198.67, golds .94 to 174.35, base metals .43 to 86.42 and western oils .56 to 214.24. Volume by 11 a.m. was 695 000 shares, down from at Uie same time Wednesday. Advances held a wide margin over declines, 159 to 96, with 137 issues unchanged. General manufacturing, real estate, steel, chemical, oil refining and banking stocks posted moderate gains. Communications, food processing, paper and forest and utility issues drifted lower. Chrysler rose to Dome Pete lo Placer !i up trading Ranger to Bras-can to Du Pont >2 to Canada Permanent Mortgage to Falconbridge Copper to Rank Vi to nnd Inco '.i to Federal Grain fell 1 to Trans Canada Pipelines Vz to MacMillan Bloe-M to and Hollinger Vi to MONTREAL (CP) Prices plugged along uncertainly in light trading today on the Montreal stock market. On index, papers dipped 1.14 to 86.89 and bsaks .53 to 257.17 while industrials rose up .85 to 199.71. the composite .62 to 200.43 and utilities .40 to 165.87. Volume by 11 a.m. totalled 315.000 shares, compared with at the same time Wednesday. Credit Fonder gained I'.i to 71Vz, Brascan '.4 to Dome Petroleum to Canadian International Power to Faleonbridge Nickel to Du Pont '.4 to Texaco Canada '.i to Shell Canada K to and Stelco to i. Border Chemical lost 1 to B.C. Forest to Mac-Millan-Bloedel to and Bank of Commerce to quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCnaig Limited) LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) WESTERN OILS Hud Bay Oil Pfd 53 50 In Mutual i.72 S.36 Almlnex 575 Hugh Russell 2S.J5 AAut Accum 5.76 fi.33 Ala East Gas 600 Husky Oil 15.62VJ Mut Gr Fund 5.8.1 6.42 Asamera 1900 Husky Oil B 4Z.Z5 Nat Res 7.12 7.78 Ashland 14.00 Husky Oil War 6.25 Finance 4.E7 5.35 BP Oil Gas 5.70 Inter Prov Pipe 15.12'A NW Growm 6.13 6.74 Can South 5.65 Inter Prov steel 9.1SVa grln. J-W Cdn Ex Gas 3.60 Kaiser 3.85 6.22 6.48 Cdn Homestd 8.40 MGF Manage 2.60 Temp Growlh H? Cdn Home Pfd 16.75 Pacific Pete 30.B7K, Hj Cdn Ind Gas Oil 1000 Rainier i.87'A U" 7'" 87B Cdn Long Is .60 Teledyne 5.00 VANCOUVER Cdn Super 41.25 West Cdn Seed 5.75 MINES Charter 5.00 White Yukon 11.50 AnuK .30 Chiellan 9.00 CALGARY -lj Dome Pete Acroll .50 S'ii? p Gt Plains 28.25 Barons oil .05 Gt Cdn Oil 5.30 Madison .10V1 Lochiel 1.60 North Cont .om 15 North Cdn Oil 625 Warner .51 DanhoV Im Numac STOCKS Dolly Varden !33 Pan Cdn Pete 16.00 GaE JT A 54.00 Dynasfy 750 Pan Ocean 12.12'A Gas Tr Pfd 79.00 Furl Reliance .38 Petrol 1.30 Alia Nal Gas 21.50 Giant Masco! 485 Pinnacle .53 Nat Gas 15.75 Granislc 8.20 Place Gas 1 13 Nor and Cent Gas 14.00 Kam Copper Ponder .68 Nor and cent B 29.00 Lornex 9.45 Ranger Pac Gas Trans 1350 Lylton Min 1.85 Scurry Rain 17.00 Gaz Metro 6.25 Primer .16 Spooner 1.10 Gaz Melro A 66.25 Pyramid .37 Se bens 8.85 Trans-Cda P pe 40.25 Silver Slan 1.26 Tolal 660 Trans-Cda P pe B 41.25 Texmont .48 Ulster 1 55 Trans-Cda P pe A 73.75 .32 W Decalta 630 Trans-Cda P War 14.00 Valley Copper 8.75 West Pete West Trans 30.50 West Res .am MISCELLANEOUS WKt INDUSTRIALS INDUSTRIES MUTUAL FUNDS Block Brothers 3.60 Aquataine 24.75 5 ?ll 155 Ind "o Cdn Brew B 3825 AGF s 3 Grower's "B" 3.65 Cdn Pacific Inv 25.75 cdn Flmd 5 03 5 51 Key a Crowsnest Ind 28.00 Con Mutual 6.65 7.30 Hys 3.30 Cygnus A 6.50 comm Inter 14.21 15.62 Inl Breweries 3.80 Cygnus B Comm Lev 377 41.1 Inter Mariner 72 Falcon Copper corp In 5.98 6.53 Pac West Air "'50 Genstar 14.75 Corp In St Fd 5.13 5.61 Slam Int'l Res .93 Home A 34.00 Drey Fd U.S 12.91 14.15 OILS Home B 33.50 Gr In Shares 3.30 4.29 Albany Oils .48 Hud Bay Co 19.50 Gr Equity 7.14 7.84 Plains Pele .26 Hud Bay Oil 43.50 In Gr Fund 11.98 12.10 West Explor .17 Toronto mines, industrials (Supplied By Richardson Sccnrifics of Canada) LAST BID OH SALE a.m. Quoles) a.m. Quores) (ir.CO e.m. Quotes) MINES Norlhaatp 5 AS Gpn Motors 79.10 Acme 3050 Osisko .25 Gt Lakes Pap 17.75 Advocate ASb. 1.78 Pine Pcint Cclf Oil Cd 36 Akaitcfio 55 Placer Dev. 27.75 Greyhound 77.50 Bralorne 275 Rayrock 1.33 Sid 2.60 '.24 Radiore .25 Huron, Erie 29.75 Brunswick 3 10 Rio Algom 15 75 Hiram Walk Cassiar Roman Corp. 6.EO Imperial Oil 11.37 'i Central Pat. I'BO' Sherrilt Gcrdon 13.P7W In) Nickel 32.50 Chimo i is Silver Miller .OM Int Pipe Grain prices Winnipeg Grain WINNIPEG (CP) Prices fluctuated narrowly on a lighl volumne of trade at mid session today on the Winnipeg Grain Exchange. Wednesday's volume ol trade was bushels of flax, 132.000 of rye and of rapcseetl. MID-SESSION PRICES: Flax: May lower 2.68VsA; July higher 2.65 Oct. U higher Nov. unchanged 2.63', j A. Rapesced Vancouver: March lower 2.54; June lower 2.51A; Sep. 'i higher Nov. not open. Rapeseed Thunder Bay: May lower July li lower Oct. and Nov. not open. Oats: May unchanged 68% A; July unchanged Oct. not open. Barley: May, July and Oct. not open. Rye: May 'i higher July higher Oct. not open. High Low Close Flax May 256'i YORK (AP) The stock market held moderate gains today in active trading. The noon Dow Jones average of 30 industrial stocks was ahead 3.91 at 926.85. Analysts said today's advance was a continuation of Wednesday's strong gain, motivated in part by favorable economic news. Among Canadians on the New York Stock Exchange, Hudson's Bay Mining al and International Nickel al both advanced Distillers S'sasrams was up Vz to and Walker Gooderharn M to '4. Dome Mines declined fo and Mclntyrc Porcupine VJ to On the American Stock Exchange, Brascan Ltd. gained to and Canadian Marconi to Noon prices on the NYSE included Chrysler, ahead at Mattel, up 1U to Reynolds Industries, up SVi at and Williams Co., up to Oct 2G8Vz 268 Nov 268 Vi Rapesecd Vancouver Mar 252 2.W-4 Jun 249 Sept 249'z 2477s 249'-2 Nov 245 Rapesced Thunder Bav May 2371s 235Ts Rambler 1 65 Tek Corp. 4.55 Int Utilities Coin Lake Texrncn! .50 Indust Accep! 21.50 Cochenour '37 Upper Canada 2.01 Laureniide 1? 75 Dickenson Mine 1.15 Western M nes 2.90 Kelly Doug A 4.00 Donlscn Mines 28 25 Wriqht Hargrcavcs Loeb 170 Deer Horn '04 .95 W.stro Store 17 fo D'Eldona !jg Windfall -09 Masscy 13 cost more than million EDMONTON (CP) specific cost to Albertans that occurs only once every four years or so was contained in the province's interim financial statement released today. The August 30 general election cost All the bills may not be in, however. The election administration was financed through a special warrant passed by cabinet of mi o? Zenrrsc Discavery Mines 71 INDUS Fast Malartic 1 Abitibi East Sullivan 2 E7 A'can Falconbridge 81 25 Alroma 51 Frobex .33 Aico Macre Ccrp TRIALS .V.clscns A R.50 Mo'ions B r.'-rth. Cent 13.75 e 14.121'a Power Corp 7.37 '3 10.75 Price Co 7.75 .1.00 Roihmans 19.1? b M.tWs Et l_aw Corp 21.00 14.75 Shell CD 36.25 25.CQ Simiscn's 2J.77V; 20 Simp Sears 32.50 6.25 Steel of Can 30 75 Oct 238 Oats May 68-ls Jly oii-4 Oct 70 Y.K. 8.EO Bell Tel Eovis 2.30 Burns Granduc 4.60 B.C. Fores Headway R.L. 07 B.C. Sucar HolMnger 33.75 CAE Ex .19 Cat Power 27. CO Trans Mtn Pp 21.50 Iron Bay 3 dO Coron Credit 1.25 Trans Can Pp Iso f 37 C.W.N. Gas 11.25 Union Gas Joliet Que 25 Cdn Indus 1550 Union Oil -5? fin Kerr Adriison S.Vo Canada S S 40.00 Vcrjsttle Mfg May 109VJ Jly 1091 z Oc'l 109'i Rye May 99 Jly S5'i 95 93 '3 Oct 3B.50 Cdn Vicker Lake Shore 270 Chrylser Madsen R.L. .65 Corv.incn Malartic G-F. .73 Cons 11 Union Car 16.00 3.1.WV3 Weslon's B 62.00 25.7.1; Woodward's A P. 50 West Cdn Sd 5.62Vi 14.50 Zenith 2.EO Si? BANKS 13 ?S Can Imncrial 29.00 Montreal 22.00 6-VCO Nova Scolia 3fi.67V; 27 Royal ?2.50 5.20 Tor-Dom 34.75 rh stocks on Securities of Canada) 20 17MJ up 2.73 N.J. 27. rs 10 :.'et F5.67 L'p .65 1P.CJ 15 V.'ost Oils 21J.35 up .67 YORK AVERAGES 20 "n.1 92S.M Up 2.70 ?2.75 23 Rails 2S6.11 L'p 1.52 AVERAGES 15 Util 112.15 up .73 2 up .94 Stccks up .14 12 Dist Sea Mldrim 16.50 Dem Bridg Intern Mogul Dcrntiir New West Home 9.25 Dam Store New Calumet .22 Demo Pete .Noranda 37.25 Norlex .27 Gt Cdn Oil New Yo (Supplied By Richards Amr T and T a 75 Sears Anfconda Sid Oil cf Beth Steel Texas Cult Chrysler 34.62V2 V.'icks Ccrp Dupont 25 r-cn Motors 79.1 Gulf 2S.7S U.S. Steel Int Harvester 3U.2.S TORONTO Kenn Copper 26.50 20 Ind By Gene Fawcette CHAN5EWUR PERSONALITY BY CHANGING TOUR VOICE! THIS NEW THEORY STATES THAT THE "GOOD AND BAD" OF A PERSONALITY IS ALWAYS REVEALED BY prices EDMONTON (CP) Average prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board. Edmonton: 28.70; average Wednesday 29.07. Red Deer: 28.70, average Wednesday 2S.04. Calgary: 28.65, average Wednesday 28.89. Lethbridge: Nil, average Wednesday 29.03. Lloydminster: Nil, average Wednesday 28.66. Total hogs sold 788, total hogs sold Wednesday iv-erage 29.02. Sows average SUBTLE TONALITIES CAN NOW BE ANALYZED SY ELECTRONIC INSTRUMENTS. TlftC WOE- CHANGE A new you CARE Bulk Fbut i PACIFIC PETROLEUMS LTD. has a successful bulk plant in )he City of Leth-bridge and is look nq for an energetic SOUNDS All musical instruments used by the na'ivcs of Madura, Indonesia, arc made entirely from the leaves of coconut LEASE... From your Frcmdiised New Cor Dealer Bolter Servico Focilllici More Flexible Icaiing Regular Warranty Plani Inspections Your loasft can Include Bettor choice of modoU maintenance, licence, cind insurance INQUIRE NOW INTO THE ADVANTAGES OF LEASING OVER BUYING Contact BORIS KORESHENKOV Beny Automotive Enterprises Ltd. 2 Avenue and 8th Street S. Phone ambitious AGENT who desires lo get into business for himself. 1 Previous experience in this field would J be an advantage. However, all appli- 3 cations will be considered. Some capital requ red. Tiuck financing IL available. j Contact: LLOYD COATES or LES TODD Telephone: Calgary 268-6479 j Lclhbridgo 328-6466 or Write; P.O. Box 6666, j Calgary, Alberta priced in relation to market value and now has become fl premium fuel. CPA says higher prices are needed to stimulate exploration and ensure future reserves and hat moderate price increase now would result in long-term economies. Its brief says federal controls >n gas prices hi the U.S, failed o recognize the competitive worth of gas in relation to other uels, growth in demand and ,he rising cost of finding new reserves. The brief suggests that an ncrease in natural gas prices ft'ould bring substantial bene- 'its 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 million. Of that, .he Alberta government royal- ty share would yield, at 16.6' per cent, some more. AVith cash flow from bonuses and lease rentals added, each one cent per million cubic fe.ef would likely yield the treasury a minimum of million in direct cash return through the years of production." Govt. may move NEB to Alberta CALGARY (CP) The fed- ral governmenl is giving ser- ious consideralion to moving Ihe National Energy Board to Al- oerla from Ottawa, says Art Dixon, former speaker of the provincial legislature. The Social Credit MLA told a panel discussion here he has il "on good aulhority" that the move is being considered. However, a spokesman for Energy Minister Donald Mac- Donald in Ottawa said: 'The minister does not know if there is any Irulh to lhal. The subject has not come up." Mr. MacDonald recently took over the energy portfolio in a cabinet shuffle. million profit for GM TORONTO (CP) John D. Baker, president of General Mo- tors of Canada Ltd., announced here that the company had a net profit of million in 1971, compared with a loss of million the year before. It was the first time the com- pany disclosed its financial re- sults. Mr. Baker said 1971 sales of cars and trucks were units, "more than double the sales level of seven years ago." The 1971 sales were bil- lion, 79 per cent above 1970 when operations were 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- sults to Ottawa. General Motors of Canada is wholly owned by its United States parent company, Gen- eral Motors Corp. Livestock Calgary livestock CALGAEY (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 lo 1.180 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 to 30.50. Good cows 23 to 24, medium 22.25 to 23, canners and enters 20 to 22.25. Good bulls 25.50 to 27.50. Replacement catUe were mostly short-keep steers weigh- ing about pounds and sell- ing steady. There were no stock calves on offer early. Good feeder steers under 750 pcunds 37 to 41, 750 pounds up 33.50 lo 36. Hogs average base price 28.65. Lambs sold higher Wednesday. Good lambs 25. Ttmndoy, February 17, 1972 THE LETHBKIDGE HERALD _ B.C. suit called By THE CANADIAN PRESS A contention by the British Columbia government that fed- eral equalization payments to the provinces are unconstitu- tional has no grounds at all and is based on imagination, says Senator Eugene Forsey. Sen. Forsey, an acknowledged expert on constitutional law, called the suit threatened by B.C. Attorney-General Leslie Peterson "pure 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 Ihe case. He'd need the skin of a rhinoceros and the 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 calculated by a for- mula based dn a nalional aver- sge of provincial revenues from 16 sources of provincial lax money. Payments then are made to the seven provinces which fall below the nalional average. The effect Is thai lax reve- nues from Ontario, Alberta and British Columbia arc distributed among the other seven prov- inces. The B.C. stalemenl that it will challenge the payments in the courts drew no sympathy else- where. In St. John's, Nfld., Finance Minister John Crosbie said his province would have to "close up shop" if the pajments were ended. Newfoundland receives more lhan 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 Cily, Premier Rob- ert Bourassa issued a state- ment saying the B.C. move shows signs of separalism. Manitoba Premier E d Schreycr said Ihe B.C. position runs counter to the federal sys- tem. "It strikes me that just about every developed federal state in Ihe world has some form of equalization paymenls to offset at least in part the disparities in per-capita he said. In R o g i n a, Saskatchewan Premier Allan Blakeney said he sees no basis in law for the B.C. assertion. In Edmonton, a spokesman in Premier Peter Lougheed's office said no statement wall be made before Monday. Dividends By THE CANADIAN PRESS Canadian Cablesystems Ltd., seven cents March 30, record March 16. Hudson's Bay Oi! and Gas Co. Ltd., series A pfd. cents April 15, record March 30. Imperial Life Assurance Co. of Canada., April I, record March 9. G Tamblyn Ltd., common 20 cents; pfd. 50 cents, both April 3, record March 17. Westccl-Rosco Ltd., 18 cenls March 15, record Feb. 23. an 1003 4th Avenue S., Lethbridge Telephone 328-4426 a 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 to 100 polnti TOP SCORE! 71 to 80 polntl Good, 81 to Wpointl- Ucillint. 61 la 70 pointi Fair. 60or FAMILY DISCUSSION QUESTION Do you think that there should be a limit put on foreign investments in Canada? YOUR NEWS PART I NATIONAL AND INTERNATIONAL Give yourself 10 points for each correct answer. 1 Great Britain has recognized the nation of BaBgladesh. True or False? Z The largest volcano ever found Is on t a-the Moon b-Mars c-the Island of Hawaii 3 The Agricultural Minister of Canada Is 7 R-H. A. Olson b-Dr. Gordon MacEachern c-Mlteheli Sharp 4 7. .is now a member of the Common Market. a-Canada b-Great Britain c-Italy 6 Finance Minister John Turner that his goal was to provide a job for everyone whois 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. 1.....hijack a-ficeaom frompunish- menl with words or argument c-take control of avehi- clc by force d-unannounced, selec- 2.....Totaling strike 3.....Impeccable 4.....Impugn E.....Impunity tive work stoppage e-perfect, beyond criti- cism PART III NAMES IN THE NEWS Take 5 points for names that you can correctly match with the clues. 1.....Georges Pompidou a-Premier of Northern Ireland STUDENTS Save This Practice Examination! 2.....Karen Mngnussen 3.....Brian Faulkner 4.....Reginald Maudling E.....AH Bhutto 5-1472 _____________________ ANSWERS ON OPPOSSTE PAGE b-British Home Secre- tary c-CmiKillan Olympic fi- gure skater d-President of Franco c-PrcsIdent of Pakistan VEC, Inc ;