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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - February 24, 1973, Lethbridge, Alberta Saturday, February 24, 1973 - THE LETHBRIDGE HERALD - 23 Gold fever keeping Toronto banks busy TORONTO (CP) - Worldwide geld fever has begun to hit Toronto where the flight from paper money is keeping bank gold departments busy. The biggest Toronto trade in gold wafers and gold bars is currently in the basement of the downtown headquarters of the Bank of Nova Scotia. No figures were released, but one official said: ."We're fairly calm here compared to what we hear about European demand hikes fur price MONTREAL (CP) - About 250 businessmen from around the world gathered in a small Hudson's Bay Co. warehouse here recently for the Montreal fur auction and they sent the fur flying. They also sent the prices flying in a clear indication that the Canadian fur industry is recovering from problems of the INFLATION HUNGRY CRITTER OTTAWA (CP) - Inflation is a hungry critter. Since 1949, it's eaten away 45 cents of every Canadian dollar. In a Commons return filed in response to a question from Barry Mather (NDP- Surrey-White Rock), Finance Minister John Turner said the purchasing power of the dollar in 1972 was 55 cents compared to its 1949 value. H. H. Smith Ltd. . Customs Broker CALGARY PHONE 263-8050 I LETHBRIDGE t PHONE 328-8141 COUTTS Home Office Ph. 344-3822 last few years. It also means the price of fur coats is in for a healthy jump. The businessmen-only about half of them Canadian-were buyers who in aggressive bidding paid high prices, particularly for the fashionable longhair wild furs now in strong demand world-wide. The most spectacular buy went to the Christian Dior fashion house of Paris, which paid a top $290 a pelt for a quantity of lynx. Last December, the top price of lynx was $126. In a report on tht auction, Hudson's Bay-which acts as broker for Canadian producers and trappers-said: "Prices have been advancing steadily during the past few weeks , and in most cases prices are higher than they have been for some time." Since December, the price of cross fox jumped 50 per cent, raccoon 30 per cent and coyote 20 per cent. DEMAND FROM YOUNG Charles Shuchat of Shucbat Furs, a major Canadian retailer, said the price increases reflect rising demand, particularly among young people in their 20s. Within a few months, retail prices for fur products will start to increase, and eventually could be 30 to 40 per cent higher than they are now. A Hudson's Bay official said the prices are bid up by Europeans, particularly Germans and Swiss, who come prepared to pay top prices thus forcing Canadian buyers to pay more in the process. "Germany, known as the world's largest fur consumer, is buying furs like they are going out of style," says David Glick, president of the Fur Trade As sociation of Canada London, but interest is certainly picking up." Telephone lines to the bank's gold department are jammed, an employee said. "We're lit up like a Christmas tree, and business is brisk." The business in gold wafers and gold bars, weighing up to 400 ounces, started picking up after the latest devaluation of the U.S. dollar about 10 days ago. The price of gold soared to record peaks in frenzied buying in London Thursday and today. LADY BUYS GOLD One Toronto bank gold department reports that a little old lady slipped in recently, handed over a mound of money and tucked a gold bar into her groceries. . Trade in gold metal in Canada this week could be running at about $1 million a day, one official estimates, although banks are not handing out any information. Average daily gold prcducton is about 10,000 fine ounces and at Thursday's price of $85 an ounce, that would mean roughly $350,000 in new gold metal is changing hands somewhere m Canada each day. Add to that, the banker says, is the probable export of seme Canadian gold that has ibeen stored in banks and other places. Such gold is lured from Canada by improving world prices. REMAINING CALM One gold expert who is remaining calm was D. E. G. Schmitt, vice-president of mining for Noranda Mines Ltd. He said Noranda has no immediate plans to re-activate any of its gold mining operations "The gold price seems a little crazy," he said. "We don't know what's really causing it." Bond prices Oil dips, gold sparkles as market holds strength � Supplied by Doherty McCuaig Limited GOVERNMENT OF CANADA BONDS Sept. l, '72 Matured Oct. 1, '75 99.00 100.00 July 1, '78 106.00 107.00 Sspt. 1, '83 82.00 83.00 3% Sept. 15 39.00 41.00 April 1, '75 101.00 102.00 July 3, '75 103.00 104.00 Sept. 1, '92 84.00 86.00 4Y4% 5'/2% 8 % 4Vi% Perp. 6y2% 5V4% PROVINCIAL GOVERNMENT OF CANADA GUARANTEED BONDS Alta G Alcan B.C. For B.C. Tel Bell Tel Bell Tel CP Lta CP Sec Cdn Util CWNG Gulf Oil Inter P P 9%9S Massey 9%% Alberta Ontario Ont Hyd New Br Nfld N. S. Quebec Alberta Man Hyd Sask Nfld AGT Man Tel 8%% 7 % 9 % 9yz% 8 % 6V'2% 7%% 8y8% 8 % 8%% 9Vz% 8 % 8 % '90 107.00 109.00 '88 93.00 95.00 '94 109.00 111.00 '90 109.00 111.00 '74 101.00 103.00 '92 84.00 86.00 '74 100.00 102.00 '90 108.00 110.00 '91 100.00 102.00 '90 108.00 110.00 '90 108.00 111.00 '74 101.00 103.00 '74 101.00 103.00 INDUSTRIALS T 9'/4% '90 107.00 109.00 '91 108.00 110.00 '92 108.00 110.00 '90 106.00 108.00 '79 106.00 108.00 '93 109.00 111.00 '89 103.00 105.00 '9C 106.00 108.00 '91 108.00 111.00 '90 108.00 110.00 '90 105.00 107.00 '50 108.00 110.00 '80 108.00 110.00 9%% 9%% 9>�% 9>/s% 9%% 8%% 9%% 9%% 9%% 8%% Noranda 9Vi% '90 107.00 109.00 Int Nickel 9%% '90 108.00 110.00 N and C G 9%% '91 107.00 109.00 St of Cdri 9V4% '90 108.00 110.00 Tr Cdn P 9%% '90 110.00 112.00 Tr Cdn P 10% '90 112.00 114.00 CONVERTIBLES Alta G T 7%% 'SO 163.00 173.00 Cons Gas 5%% '89 91.00 93,00 Dynasty 7 % '82 100.00 105.00 Acklands 7%% '88 105.50 107.50 Scur Rain lVi% '88 91.00 93.00 WC TTr C 5V2% '88 80.00 90.00 WC Tr lVz% '91 97.50 98.50 By MIKE WILLIAMS | Canadian Press Staff Writer Price changes on major Canadian stock markets this week presented a sharp contrast as western oil stocks dropped sharply and gold issues recorded 'their best gains in months. Experts attributed the increase in gold stocks to the record selling price of gold bullion on the London market. The price rose to almost $90 U.S. an ounce during the week after rising $7.20 Thursday, its best daily increase in history. Western oil issues, however, continued to decline in response to the federal government's announcement that restrictions will be placed on oil exports to the United States. Canada last year exported about 950,000 barrels a day of crude and related oil products Hog prices EDMONTON (CP) - Closing average pzices Thursday provided by the Alberta hog producers marketing board: Edmonton: 45.05, average 44.55, Red Deer: 45.20, average 44.60, Calgary: 45.19, average 44.55, Lethbridge: Nil, average 44.83, Lloydminster: Nil, average 44.80, Fort Macleod: ND, average, 44.60, Grande Prairie: Nil. average 43.50. Total hog sales 3,837, 45.10, no sows. OPPORTUNITY for FARM WRITER The Red Deer Advocate is inviting applications for a position in a new division of the company, the weekly Farm News and Shopper, now in its fourth month of publication. The successful applicant would assume responsibility for preparing and editing news material for the publication, including reporting on agri-business in the region, planning photo coverage and laying out the paper. The successful applicant would work closely with the advertising director of The Shopper, together assuming responsibility for producing an authoritative, lively new farm publication for Central Alberta. Salary would be commensurate with experience. Please send written application, citing experience and interests, to the editor. The Advocate, Box 520, Red Deer. THE RED DEER ADVOCATE CENTRAL ALBERTA'S DAILY NEWSPAPER INVS7ES APPLICATIONS FROM QUALIFIED CANDIDATES FOR ADVERTISING MANAGER at its new Photo Composition, and Offset plant in Red Deer. Salary would be commensurate with experience. If this outstanding opportunity interests you and you are willing to assume responsibility, write giving age, education and employment history to THE PUBLISHER THE RED DEER ADVOCATE P.O. Box 520, Red Deer, Alberta Gold futures WINNIPEG (CP) - Gold futures, U.S. funds, Winnipeg Commodity Exchange close Thursday. Apr 73 - 82.80B; Jly 73 - 84.40B; Oct 73 - 85.60B; Jan 74 - 86.90B; Apr 74 - 88.30. Thursday's volume: No contracts. the RIVIERA MOTOR HOTEL Welcomes you to Edmonton To help make your stay more pleasant>-we would like to introduce you to all our facilities. MORE PEOPLE STAY AT THE RIVIERA- BECAUSE THE RIVIERA OFFERS YOU MORE! Write or Telephone MOTOR HOTEL 5359 CALGARY TRAIL 43-43-43-1 CALGARY POWER Canada's largest investor owned electrical utility company has an opening for an: ASSISTANT CHIEF ENGINEER with a valid Alberta First Class Engineers Certificate (or ba able to obtain same before starting employment) for its generating plant 40 miles west of Edmonton. Operating experience in a large central generating plant desirable. The Company will carry re-loeotion expenses. Interested applicants please submit resume including education and salary history tos Calgary Power ltd., Staffing Representative, Box 1900, CALGARY, Alberta. T2P 2M1. ALLAN C.A. W. R. HUNT, and ROBERT JACOBSON, B.COMM., C.A. wish to announce the formation of the firm of HUNT, JACOBSON AND CO. CHARTERED ACCOUNTANTS for the practise of their profession at Suite H, Holiday Village Professional Building 433 Mayor Magrath Drive Lethbridge, Alberta Telephone 327-3171 to the U.S. But when the U.S. removed its import quota early in January because of its growing energy shortage, Canadian oil exports jumped to about 1.2 million barrels daily. Canadian Business Service says that "while some look on the imposition of these export quotas as a preliminary skirmish before the opening of trade negotiations with the U.S., we believe the principal reason is the failure to prove up additional worthwhile reserves." OIL RESERVES LOW "With already limited existing reserves, it appears there are less than 14 years of reserves remaining at current rates of production." At Toronto, the ind'istrial index, considered a major indicator of market trends, was down .25 to 224.86. At New York, the Dow Jones industrial index of 30 key blue-chip issues slipped 19.34 to 959.89. On the Montreal and Canadian exchanges, the composite index, fell .96 to 232.12. Trading on the two Montreal markets was moderate with 8.11 million shares traded compared with 7.66 million the previous week. At Toronto, trading was active throughout the week with 16.28 million shares changing hands compared with 15.27 million a week earlier. Analysts say markets should remain strong despite weak performances in recent trading sessions. CNA Investors Ltd. says the supply of money is increasing "and it appears that this will stay this way for the next few months going on late into the spring." BUYING MONDAY 1:00 p.m. SPECIAL Feeder Hog and Baby Calf Sales OR SELLING Wednesday 10:00 a.m. FAT and FEEDER CATTLE SALES CALL FRENCH FRIDAY 10:00 a.m. FAT and FEEDER Cattle Sales Wm. SOLD MONDAY THRU'-A-^ 4 ,| 1:00 p.m. ^SPECIAL STOCK SLAUGHTER HOGS ASSEMBLED AND FRIDAY WE BUY and SELL FAT and FEEDER LAMBS DAILY CALF AND FEEDERS EXPORTERS OF SLAUGHTER HOGS - EXCELLENT FACILITIES FOR FEEDING AND LOADING HOGS. ED FRENCH .......... 328-3986 DAN KLASSEN ........ 345-4358 KEN MILLER, MAGRATH 758-6607 LOU DEJAGER ....... 345-4489 WHJT HENINGER...... 328-7354 CONSIGN ALL YOUR LIVESTOCK TO: C. E. FRENCH LIVESTOCK * "In The Heart of Canada's Ranching Country" Ph: Office 327-0101 - 327-3986 Alberta Stockyards P.O. BOX S.S.I-7-7, LETHBRIDGE, ALBERTA Crossword By Margaret V. Judah "OUR LITTLE MISTAKES" 1 Cancel sins 6 Where bishops sit 11 Angry stare 16 Young pigeon 21 Ooze 22. Pinkish purple 23 Stormed 24 - of sense 25 Animal show man 26 Restraining thong 27 Habitation 28 Devil's agreements 29 Euphemism for our sins 32 Bells, of a kind 34 Destiny 35 Balaam's rebuked him 3S First rate 37 Reward for murder 39 Wont 40 Indian' weights 41 "To-With Love" 42 Join intimately 43 Josh 45 Make lace 47 See-29-A 52 See 29-A 58 Nice girlfriend 59 Kind of roll 61 Invite 62 Plead 63 Flower-strewn: art 64 High 65 Communica tor's a 67 Uninvited picnickers 68 Blackbird food 69 To a - 70 Ethereal 71 "This-is none of mine' 72 Hep 73 Low woman 74 See 29-A 76 Redd 77 Buzz 78 Kind of fisherman 79 Word for others' sins ACROSS 82 See 29-A 84 String instrument 87 Coffee makers 88 Neophyte: var. 89 See 29-A 93 Goddess of discord 94 Glad - 95 Impressible 96 - faced (kind of sin) 98 Deadly sin 99 Baby sounds 100 Hope's specialty 101 Help with the dishes 102 Prison - 103 Imposture 104 Adopt 106 G in mpg 107 Up the ante } 109 P.R.city 110 Hopelessly 113 See 29-A 115 Direction 116 Two fiddlers 117 Word with check and stale 119 Stratagem 120 Euphemism for damn 123 Sault - Maris 125 Ingenuous 127 Mexican coin 129 Certain railroads 132 Lamb's dam 133 Sauna necessity 135 Pressman's apprentice 138 River drainaga area 140 Rubber - 142'Embellish 143 Frivolous 144 Favorable: astrol. 145 What some sins are 146 Preterit or pluperfect 147 Closed 148 Sixth - 149 - of beef 150 Trims the lawn 151 Pits 1 Plext 2 State boards 3 Contagious disease 4 French brainstorm 5 Environments 6 Screw or wrench 7 Speak your - 8 Kind of tern 9 Indifference 10 Fishy congregation 11 Kind of roots 12 Testing place 13 Carious 14 Fortification 15 Places lost by sin 16 Soaks 17 As 18 Sam or Tom 19 Thespian 20 Outstrips 30 Golf warning 31 Is sleepy 33 Learn 38 Uneven DOWN 40 Prison 41 Snow runner: var. 42 Dam 44 Annoy 46 Danish counties 47 This can be sinful 48 Eastern VIP 49 Pointer . 50 Suffix with spin 51 Influence 53 Lame 54 Prefix with petal 55 India's neighbor 56 Statuetta base 57 - clear 60 Dilatory 64 Lucy's man 66 What hounds of hell do 67 Indigo 70 Florence's river 71 Brace's companions 72 Buckeye State 73 "-Joy of Man's Desiring" 75 Certain paintings 76 Preserves 77 Cautious 78 Mild oath 80 One of the Friends 81 Press 82 Handy ona 83 Canadian prov. 84 Surrendered 35 Correct error 86 Has speech impediment 88 Borrow from 90 "The Young - 91 Vestige 32 Divisive source of sin 94 Brightest 95 Testament's companion 96 Evil 97 Greekwar god 100 Sexy don 101 On the-. ' 102 Barbed - 103 Parasite's bread and butter DiagramleSS 21 X 20, By Janet C. Flory I -and terminer 6 Old alphabet character 6 Bashful 9 Power group 10 Cultivate ii 1860'slnits, 14 Withered 15 Consume 16 Prime mover 18 Blaster "hip anctjthigh" 20 Chip ACROSS 21 Terrible 74-A 22 Each in - own way 23 Cultural - 26 Vernal religious season 29 Presided 32 Dirty old man (Greek71 | 33 Arranges in battle 36 Paul -, the Inquisitive 37 "-ofSt, Agnes" 38 Entre - ' 40 Pir.y 42 Symbol of26-A 44 Requirement 46 Wrath 48 One-hoss shay 50 Chirp 62 Semblance of powerful Fr. cardinal 54 57 58 59 61 62 64 66 67 68 Our neigh- " bor's grass Signify Doctrine Born in France - Amer, or Abbas Rosalind's forest Mourn Recesses Sheepish sound Order forms, in short Ironic Dawn Aoudad Some cities' transport Ruler Conger and moray DOWN � Spheres. Christmas-tides Outrageous-' ness Telephone equipment for a catcher? 6 Brightness 19 "- baby 7 Frost ain't savin 8 Still nuthin'" 11 Childish 24 Rippling ailment chord 12 Hide the 25 Chemical loot pectin? 13 Just 26 Psi dandy 27 Swiss river 16 Head of hunt, 28 Pillar saints in short 30 Soft drink 17 Assuage 31 College tuto. 105 Aboveboard 106 Wildebeest 108 Accompanied 109 Imitates humorously 111 imagines 112 Norse giant 114 Staubach specialty 118 Fly 120 Euphemism . for sins? 34 Hither and - 35 Source of tallow 39 Stitch up 41 "A hungry man in not a--" 43 Pith 45 Understand while young 47 Sea eagle 49 - whizl 121 Kind of house 122 What recidivists do 124 American inventor 126 Forbidden fruit 127 Intrinsically 128 Sea eagles 129 Slip away , 130 Covered the , inside 51 Prefix for pod or sect 52 Bring into being 53 "I accept 2/25/73 131 Pungs- 133 Cut 134 They followed a star 136 Chinese secret society . 137 Nine:pref. 139 Office holders 141 Don't go away - 60 Printers' measures 61 Material for a Pentagon hat 63 Tier; fuss 64 "Ballad of the -" (Fuller) Reading -" 55 Saul's witch 65 - justice of-~ 56 Smelling to the skies 67 Agnus - to all 67 Spelling or sewing klatcii 69 Knights SOLUTIONS OF LAST WEEK'S ITOZI.ES IJMIinU QHUUUi ?Boas bbu aaa aaaaa iaUBQOBBUBBBQBUBElB huh uua'sb awa auHU una agja/a UHHOQ dHDlQEJ ?acta Guana aatiaa aaaa gaga aaaa maa anna aaa annnia nan amamaaaaamaamaaa raraman 2BHH amaa_ aaaa l/W/73 BBHBDBHiaapiiHQua aaa aau eibgiiib aaa gagaa mm aaaa bubo aaaa aggga bbbbBb aaaa aaamaa QHBOI1E1B 0QQQHB QQQHQQ uisaaa aaaa aaaaa vmaaam CRYPTOGRAMS BRYT KRNWRE ORI BRYTBRIE LRP: T7RMEHU KBDG THD ST URBRMET WE LIHESP GEWONTI. HBHG, D E G E W O O T S. ;-By Richard Blankley 2. YCLH BCLHY BANNBH A Y C B*. -By Earl Ireland J/25/73 S. INZ DEPOOSTNGZ SNDYUNOE: BEHAP NAANDYO SUNDY SHOETR, SUNDY OBHRPO BEHAP GTTY- OANUPINAP., -ByAlfredJerome Last Week's Cryptograms 1. Mom's awful awakemng:gurglcs, droplets of drool, gooey fingers poking eyes and nostrils. 2. Tired intern ordered roses for friend. 3. Strike gold plaques to the quacks for conquering the dreadful plaguel ;