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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - February 22, 1973, Lethbridge, Alberta Active trade on TSE Gold stock up sharply TORONTO (CP) - Gold Issues recorded sharp gains while most other issues were off slightly in extremely active mid-morning trading today. The gold index soared 7.58 to 234.63. Analysts attributed the sharp jump by gold stocks to the high price for gold bullion on the London market. The price increased $3 Wednesday to all-time highs of nearly $80 (U.S.) an ounce. The industrial index, considered a major indicator of market trends, was down. 10 to 224.21 and western oils 2.59 .to 254.58. Base metals, however, were up .66 to 102.42. yaper and forest, trust and loan, chemical and food processing stocks were among sectors of the market recording losses while real estate, beverage, merchandising and pipeline issues were higher. Hudson's Bay Oil and Gas fell % to $50 >/i, Dome Pete % to $40%, Home Oil A % to $38y2, Bow Valley % to $37% and Atco Industries % to $10y2. Woodward A rose % to $30y4, Reed Shaw % to $12, Alliance Building % to $10Vfe, Seagrams % to $43% and Acres Ltd. % to $18. MONTREAL (CP) - All sectors except papers and industrials advanced in heavy trading on the Montreal stock market today. Utilities gained 1.29 to 159.70, the composite .27 to 230.00, and banks .04 to 276.16. Papers dropped .10 to 116.37 and industrials .03 to 242.48. On the Montreal Stock Exchange, Dominion Petroleum was down 1% to $39%, Hudson Bay Oil 1 to $50 and Royal Trust 1 to $53, while Du Pont gained Vz to $33. NEW YORK (AP) - Stock market prices slipped downward today for the second day in a.row. Trading was moderate. The noon Dow Jones average of 30 industrials was down 4.29 to 970.05. Declines had a lead of Mobile home firm moves sales lot Look Mobile Homes has relocated its sales lot from Coal-hurst to the former arena property at 2nd Ave. and 12th St. A S. The firm, which has been operating in Coalhurst for two years, has a two-year lease on the property owned by the Elks Club. The Elks Club purchased the property from the city after the arena was destroyed by fire. Expansion of club premises is not expected for at least two years. A grand opening of the sales lot is scheduled for March 2-4. Karl Wilde is sales manager of the Lethbridge lot and Al Baird is sales manager of the company's Blairmore lot. Look Mobile Homes sells Empress, Chinook and Commodore double - wides and Chinook, Westbrook, Fleetwood and Shelby 14-foot wides up to 70 feet long. Marking Time? M. C. SLAVICH. C.l.U. -because the next step on the corporate ladder 'ust happens to be occupied? Do as I did - Investigate a career which offers unlimited opportunities for personal development and income growth! For confidential discussion concerning a career as a professional life underwriter, call or writei Mr. I. R. Mandseth, C.L.U. 402 8th Street South LETHBRIDGE, ALBERTA PHONE: 327-5514 (Bus.) 328-0287 (Ret.) /l/lanu^Life The Manufacturers ule Insurance Company' about eight to five over gains on the New York Stock Exchange. Canadian issues tended lower in quiet trading. Dome Mines gained 1% at $807/a and Massey firmed % at $22% while Walker Gooderham lost Vt at $52%, Inco % at $33%, Granby Mining % at $19% and Alcan Va at $25%. On the American exchange, Brascan eased V* at $20% while Scurry Rainbow firmed % at $17%. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty. McCuaig Limited) LAST BID OR SALE (11:00 a.m. Quotes) {11:00 i.m. Quotes) .. . WESTERN OILS . AND MINES Alta East Gas Alminex Asamera Ashlsnd BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Cdn Long Is Cdn Super Charter Oils Chleftan Dome Pete Dynasty Ft Reliance Giant Mascot Gt Plains Gt Cdn Oil Lochlel. Lytton Mln Noble Mines North Cdn Oils Nnumas Pancdn Pett Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Selbens Spooner Total Pete Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aqultalne B.C. Sugar Pfd Block Bros Brine Cdn Brew A Cdn Brew B Cdn Pacific Inv r-nr'-'re-k Ind Crowsnest Ind (11:00 a.m. Quotes) Cygnus A Cygnus B  ' icsn Copper Genstar Ko:..e A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War  Husky E War Frov pipe 15..-7VS Inter Prov Steel 40-00 Kaiser Res Loblaw C Pfd / - vnnsonlcs Pacific Pete PW Air Royal Trust St Maurice Cap Sandwell Teledyne West Cdn Seed Wastfleld Mln Weston A Pfd 9.75 6.20 6.40 13.50 18.00 5.40 5.70 3.50 7.85 Oil 9.75 .34 52.00 4.00 9.65 .34 3.90 13.00 9.10 3.10 2.16 1.45 6.65 17.00 15.25 7.75 7.75 14.00 17.75 15.12i/j vviiii.- Yukon Cmnw Inter 15.88 17.45 Cmnw Lev 4.21 4.63 Cmnw Vent 8.44 9.27 Corp Invest 6.47 7.09 38.87Va Corp In S F 5.48 6.02 36.00 Dreyfus F U.S. 12.38 13.57 19.871/j Great Pacific 5.02 5.49 50.50 Gr In Shares 4.36 4.80 60.00 Gr Equity 8.98 9.86 44.50 Invest Gr F 13.04 14.25 20.37'/a Invest Mutual 6.08 6.65 42.50 Mutual Ac 6.41 Mutual Gr F 4.21 Nat Res 8.12 N W Cdn 5.77 NW Gr 5.66 Principal Gr 5.10 5.60 36.62i/a Royfund 7.21 7.51 14 00 Temp Gr ' 9.45 10.33 United Ac 5.60 6.15 Universal Sav 8.33 9.15 Unlvest 6.19 6.B0 Vanguard 7.66 8.39 CALGARY Acroll .68 .,,,, Barons Oil .02% �\'f/J North Con .01V4 West Warner .35 �3.12Vi VANCOUVER 7.25 8.45 11.75 15.50 2.20 37.00 11.00 52.50 1.20 4.65 5.25 7.05 4.63 8.87 6.34 6.22 1.43 .26 .68 .54 32.00 17.00 U'O .60 7.80 1.02 9.00 6.00 14.75 PIPE LINE STOCKS Alta Gas A Alta Gas Pfd Alta Nat Gas Inland Nat Gas N and C Gas N and C B Pfd Pacific Trans Gai Metro Gaz Metro A Tr Cda Pipe Tr Cda A Pfd Tr Cda B Pfd Tr Cda War WC Trans WC Trans Wts Afton MINES 18.00 25.75 15.50 3.10 5.B7V4 Aii Cdn Dlvl 28.25 All Cdn Vent 33.75 Amr Gr F 29.62'/j AGF Special ?.00 Cdn Invest F 26.12'/a Col Mutual lV,l/z Atlas Explor 73.25 Batn Norse Croyden 12.75 Dankoe 11.25 Davenport 24.50 Dolly Varden 13.00 Equlfcrial Res 5.12V2 Lornex 67.00 Primer 39.50 Pyramid 72.00 silver Standard 41.50 Valley Copper 10.62VJ INDUSTRIALS 20.25 - � 4.25 Capt Inter Col Brew MUTUAL FUNDS Hys Cdn All Cdn Com 8.27 9.04 Key Indust 8.99 4.35 6.16 3.16 5.31 6.95 9.83 OILS 4.75 Albany Oils 6.76 Mtn State Res Plains Pete 5.82 Stampede Inl Res 7.63 West Explor 7.35 X6 .87 �OSVs 1.15 .56 .33 .18 (.25 .35 .20 .75 11.12Vi 2.85 3.40 5.50 .30 1.18 1.48 .29'/2 .70 .07 Toronto industrials mines, (Supplied By Richardson Securities of Canada) LAST BID OR SALE (11:00 i.m. auotesl (11:00 a.m. Quotes) (11:00 a.m. Quotas) . MINES Acme .18 Advocate Asb. 1.25 Akaltcho .75 Bralorne 2.B5 Broulan .36 Bethlehem 16.75 Brunswick 4.55 Can. N.W. Land 8.50 Canada Tung. 2.00 Casslar 13.50 Central Pat. 1.31 Chimo 1.28 Cenwest 6.50 Cons. Rambler 3.05 Coin Lake .14V4 Cochenour .56 Cralgmcnt 6.20 Dickenson Mines 3.00 Denlson Mines 31.75 Deer Horn .05 D'Eldona .47 Dome Mines 80.25 Donalda .25 Discovery Mines 1.11 East Malartic .75 East Sullivan 2.75 Falconbrldge 69.50 Frobex .30 First Maritime! .47 Giant Y.K. 8.25 Bovls 2.70 Granduc 3.20 Holllnger 44.00 Hudson Bay M-S 22.50 Hydra Ex. .26 Iron Bay 3.85 Isq 2.04 Jollet Quebec .26 Kerr Addison 12.00 Key Anacon .271/2 Labrador 42.25 Lake Shore 3.05 Langls Silver .05V2 Madsen R.L. .70 Malartic G.F. .95 Martin McNeely .15 Maclntyre 46.00 Meta .10 Mldrlm .12 Intern Mogul 14.50 Nu West Homes 9.50 New Athona .18 New Calumet .25 W. Horse Copper 3.65 Noranda 48.00 Northgate 6.00 Norlex .33 Oslsko .23 Pine Point 29.37VS Placer Dev S'.25 P.C. Exp. 2.95 Q!.e.:cc Man .13 Rayrock 1.10 p*ov '�! .zs Rio Algom. 24.12V2 fc:i.;;.i Ct.rp. 7.80 Sherrift Gordon 17.37i/2 Sleep Reck 2.17 Tek Corp. 4.35 Texmcr.t .Z0 Upper Canada 2.96 Wr.st8.-n Mirres 2.73 Wright Hargreaves 1.10 Willrov 1.12 Windfall .O8V2 Yellowknife Bear 3.70 INDUSTRIALS Abiflbl Alcan Algoma Steel Atco Ind Atlantic Sugar Agra Ind Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Val Ind Cdn Brew Chemcell Ccl Cell Calgary Power Coron Credit C.W.N. Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler C.P.R. Cominco Cons Bath Cons Gas Dist Saesrams Dom Brroge Domtar Dom Textile Dom Stores Dome Pete Dofasco H.37'/2 25.12V2 15.87V2 10.25 6.50 12.25 43.371/2 20.50 57.371/2 18.75 32.50 20.62V2 37.50 5.50 4.20 2.90 28.50 1.80 11.00 16.75 4.60 13.621/2 35.62V2 17.50 29.00 19.25 18.25. 42.75 32.75 18.50 9.50 15.25 40.00 27.75 Cable Glendale -Grt Cdn Oil Gen Motors Grt Lakes Pp Gulf Oil Cda Greyhound Hawker Sid Hur & Erie Hiram Walker .Imp Oil Imasca Int Nickel Int Pipe Inv Grp A Int Util Ind Accept Kaps Laurenflde Kelly Doug A Loeb Loblaw A Met Stores Massey Ferg McMillan Bloe Moore Corp Molsons A Molscns B North 8. Cent Price Co Rothmans St. Law Corp Shell CDA Simpson's Simp Sears SM of Cda Selkirk A Traders Grp A Trans Mtn Pp Trans Cda Pp Union Gas Union Oil Versatile Mfg Wesfeel Union Carb Weston's B Woodwards A West Cdn Seed Zenith Elec BANKS Cdn Imp Montreal Nova Scotia Royal Tof'Dom 19.25 12.50 9.10 74.25 21.121/2 33.371/2 21.62V2 4.20 33.50 51.25 41.50 32.00 33.25 27.50 11.75 24.621/2 19.37V2 8.62V2 12.871/j 8.00 4.80 6.25 24.50 22.37V2 28.00 51.75 28.50 27.25 11.25 15.371/3 15.75 19.121/a 53.00 32.00 49.75 34.00 15.00 65.00 21.00 21.75 39.75 12.25 16.00 6.50 29.00 18.50 22.00 30.00 6.00 2.55 32.71 20.371/2 35.621/2 35.50 32.75 /Veil? York stocks fSnpplied By Richardson Secnrities of Canada) Amr T and T 51.50 Sears Anaconda 21.75 X-Ron Beth Steel 27.75 Texas Gulf 35.571/2 Texas Co 50.03 Wickos Corp 175.12V2 Woc-lworth Chrysler Comsat Dupont GM Gulf Int Harvester Kenn Copper 111.75 20 Golds 232.82 up 5.77 B9.12V2 10 Base Me 102.20 up .44 122.62V2 15 W Oils 253.96 off 3.21 39.371/2 Volume 2,101,000 24l62V2NEW YORK AVERAGES 74.62V2 Westlnghouse Elec 36.87V2 30 Indust 970.05 off 4.29 l5/7L. y-S- S'esl 30.62V2 20 Ralls 200.09 off 1.12 34.62V2 Gen Tel Elec 27.871/2 15 Utilities 112.86 off .41 26.75 TORONTO AVERAGES 65 Stocks 306.84 off 1.40 Montgomery Ward 24.75 20 Indust 223.79 off .52 Volume 7,070,000 CORRECTION ZELLER'S HOME FURNISHINGS SALE Pole Lamps and Swag Lamps advertised in our Home Furnishings Sale should have read as follows: POLE LAMPS............... 14.97 ea. SWAG LAMPS ............. 9.97 ea. Zellers SlliliS��SiK.I9^hankl Sirloin tip-: CP I Steak Wec^'^**'^^ Roost ; Chuck S WM&MMM f \ Short . M.KfyMV.-K.K<-KW^-^ - . mm: Shaflk Round .Bona ................. ~ ^hoolderj:^:::::^ - Thursday, February 22, 1973 - THE LETHBRIDGE HERALD - 9 Alberta may gain portion of B.C. petroleum area FORT ST. JOHN, B.C. (CP) - Business and municipal leaders in British Columbia's Peace River district are alarmed at the possibility of losing a- big chunk of the area's petroleum exploration inrluslry to Alberva because of new taxes and bad roads on the .C. side of the border. The biggest problem is a decision by Premier Dave Barett's Beef prices climb Beef prices in Canada keep climbing and the farmers, middlemen and the retailers say they aren't getting rich. But customers' howls over food prices have been so loud that a House of Commons committee is investigating. % A western farmer gets 40 cents a pound for beef on the hoof and it costs about three cents a pound to ship it to tiie Toronto market. In a typical transaction, Canada Packers, Ltd., bought a 1,050 pound steer at a Toronto auction for 42yz cents a pound, a total of $446^25. The carcass, trimmed of hide and waste products, would weigh about 598 pounds. The packers sell and process the hide and a great deal of the rest of the animal for glue, medical products and animal food- The trimmed carcass was sold to a food chain for $436.91, about 73 cents a pound. About 140 pounds of the carcass would be used for hamburger or stewing beef, the rest cut and trimmed into steaks and roasts. The average price per pound to the consumer would be $1.09. Drawing shows where different cuts of meat come from on carcass. Tax return tips Q. I own a summer cottage. For capital gains purposes, do I have to hire a licensed appraiser to set a value on my cottage? A. No, although you may if you wish. However, it is in your interest to be able to establish Valuation Day values for any real estate you own other than your pri'iiiwl residence. In general, information on sales of similar properties, in the same area, around Valuation Day, will assist in arriving at a fair market value. Q. With most capital gains being taxable under the new law, I am concerned about the gains and losses which will be realized on my household effects; stove, fridge, boat, car, furniture, etc. Should I be valuing this' property as of December 31, 1971? A. There is a $1,000 rule applicable to the personal-use property of a taxpayer. This rule states that when the original value or the final selling price of personnal-use property is less than $1,000, the cost or $.',000 for capital gains purposes. This rule, in effect, will eliminate the valuation record-keeping and reporting of capital gains or losses on personal-use property bought or sold for less than $1,000. Q. Both my boat and car are worth more than $1,000 each. Should I therefore place a December 31, 1971 value on them. A. The new law states that selling price is deemed to be one-half of capital gains on personal-use property will be taxed. However, losses will only be allowed on listed personal properties as defined in the Act. These items are, works of art, jewellery, books, stamps and