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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 28, 1975, Lethbridge, Alberta Friday, February 28, 1975 THE LETHBRIDGE HERALD 27 Cattlemen's intelligence system topic of study EDMONTON (CP) Cana- dian cattlemen are going la be asked to support a proposal in- volving them in the CIA not the cloak and dagger Central Intelligence Agency of the United States government but a producer operated Utilities board had busy year EDMONTON (CP) The Public Utilities Board says 1974 was a difficult year for customers of public utilities in Alberta and for the utilities themselves. The board, in its annual report, said every major gas and electric utility in the province appeared before the board during 1974 to seek rate increases to offset rising costs, particularly the cost of financing. As a result, the board received a "tremendous number of inquiries and com- plaints by citizens and citizen groups who felt the need of board assistance in dealing with their utility problems." The report said the board received 289 written com- plaints during 1974 compared with 44 in 1973. More than half of the 1974 complaints were in connection with a special hearing on butane and propane prices. The hearing resulted in the fixing of butane and propane prices for use in highway construction. The board said increases in electric rates resulted in 47 written complaints while milk price increases generated numerous telephone inquiries. The board issued 352 orders or decisions during the year, compared with 121 during 1973. The report said that from 1969 through 1974 the average price of electrical energy supplied by regulated utilities increased by 9.3 per cent and the average price of natural gas supplied by the major regulated utilities for use in Alberta increased by 2.4 per cent. The increases were sub- stantially less than increases in other sectors. Food prices increased by 49.6 per cent, housing costs by 33.6 per cent, clothing costs by 22.5 per cent and transportation and per- sonal health care costs by 27 per cent. The board said total invest- ment in Alberta utilities ex- ceeded J2 billion by the end of 1973, compared with million in 1964. The greatest growth was in investment in electrical utilities, which increased to million from million. Natural gas utili- ty investment increased to million from ?145 million in the same 10 year period. Telephone systems, owned largely by Alberta Govern- ment Telephones and the City of Edmonton, increased their investment to million from million. Petition to end egg board started CALGARY (CP) A peti- tion is being circulated among Alberta's registered egg producers seeking support for a plebiscite to decide whether to abolish the Alberta Egg Marketing Board. Agriculture Minister Hugh Homer has told producers if 320 producers sign the petition asking for the ballot the Alberta Agricultural Products Marketing Council will con- duct a plebiscite. Producers from Linden, Beiseker and Acme, are leading the drive for the vote' under the banner of the concerned egg producers of Alberta with a mailing address at Box 312 at Linden. Jim Jackson of Acme, spokesman for the group, said they want to abolish the board and start over because of "board mismanagement." He said the group was founded after the board ad- mitted it had a deficit, even though it started the year with a sur- plus. More than was given to the Canadian Egg Marketing Agency (CEMA) to help it out of its own rotten egg problems. The Alberta board is now levying 6.5 cents per dozen against producers to provide operating capital. The levy represents most of the producers profits, said Orest Lukey of Acme. Mr. Lukey said the levey is 10 per cent of the price producers receive for their Grade A eggs and 15 to 20 per cent of what they receive for lesser grades. He predicted the Alberta board will increase the levy to 10 cents per dozen because of the cutback in production ordered earlier this year by CEMA. Foreign loans approval authorized by Ottawa OTTAWA (CP) Because of the prospect of a large deficit in foreign dealings this CARDS OF THANKS ZATKO Wish to thank all who assisted, and friends and relatives who helped to make our anniversary party such a happy occasion. Also for cards, gifts, etc. received with great appreciation. and Louise Zatko 1393-1 We would like to express our thanks lo the Coaldale Volunteer Firemen and the Lethbridge Fire Department for their greal help and for the kindness (hey showed us dur- ing the terrible fire we had. thanks from The lluttcrian Brethern of New York Colony. 1346 HAMLING I wish to ex- tend a sincere thank you lo my doctors and the slaff of Ihe SI Michael's Hospital for the care I received during my re- cent illness. Also thank you lo my family and friends for their visits, cards and flowers. A special lhank you lo my many friends al1 the Blue Sky Lodge. -Jim Ilamling 1354-1 year, Finance Minister John Turner said Thursday it now is all right for provinces and corporations to borrow abroad. Mr. Turner said in a stale- menl Ihe government is with- drawing a request made five years ago to limit foreign bor- rowing. That request was made when the dollar was allowed to trade in foreign currency markets wilhoul a fixed value. The value of Ihe dollar rose following Ihe May, 1970, decision. Al lhal lime, Ihe economy was in a strong surplus posi- tion. In 1970 the combined value of exports and money coming from foreign investments and other sources was billion more than Ihe combined value of imporls and moncy going oul for such things as dividends and interest on investments here by foreigners. Private and government forecasters now eslimate lhal in 1975 there will be a of between billion and billion. This is due in part to a decline in exports along with an increase in imporls. Flows of money in and out of Ihe country affect Ihe value of the dollar, and changes in currency values affccl Ihe prices of Imporls and exports. international livestock market intelligence system which could be called the Calllemen's Inlelligence Association. Dobson Lea, president of Unifarm, Alberta's largesl farm organization and a vice- president of the Canadian Federation of Agricullure said Thursday in a news release such a syslem is needed lo provide liveslock producers wiln more accurate prediclions on the supply and demand for meal on a global basis. Mr. Lea was in Ollawa for lalks with Charles Munro, president of both the CFA and the International Federation of Agricultural Producers on the feasibilily of such a syslem. The CFA is one of more than 40 members of IFAP. Mr. Lea said the world's livestock producers now are in the same situation as their Canadian counterparts who are receiving "disastrously low prices He said the lack of an effec- tive world market intelligence syslem coupled wilh downward swings in world grain prices, have combined to encourage Canadian producers to "unwarranted" produclion. "Producers found themselves making decisions on the basis of what turned out to be bad advice from some non-producer sources, which apparently outweighed the sound advice offered by organizations such as the Canadian Catllemen's Association." The Unifarm president said a system operated by the proposed international producer's organization could be effective in preventing "serious distortion" of cattle production cycles which, if allowed, result in the glut evi- dent today. On the beef surplus, Mr. Lea said a floor price, just below the incentive level but design- ed to encourage marketing of lighter animals, should be im- plemented to avoid ruin for many producers. He said a boycott of markets would be ineffective, "in facl because il would add more pounds of beef lo Ihe existing surplus. Mr. Lea said he intends to meet livestock organizations to outline his proposals calling on producers and their organizalions lo assemble Iheir own markel intelligence system. Sugar price drops VANCOUVER (CP) The price of a 10-pound bag of sugar in Vancouver Wednes- day was at one super- market, compared with Tuesday il was reported Thur- sday. Wholesale prices, reflecling falling world prices, have dropped wilh intermittenl upward fluctuations since last Nov. 21, when the Van- couver price peaked at for a 100-pound bag. Wednesday's price drop was the Ihird in three consecutive days. Tuesday's price for a 100-pound bag was down from Monday's Wednesday's Vancouver price was Ihe same as prices Ihe same day in Toronlo, Montreal and Saint John, N.B. Formerly, local prices have been lower than in other ma- jor Canadian centres. In the U.S., however, prices remained higher Wednesday, al in New York, in Seattle and m San Francisco. Peter Cherniavsky, presi- dent of British Columbia Sugar Refining Ltd., said prices may have reached bol- torn for the present, Household and industrial con- sumers are using up inven- tories and causing a reduction in demand, he said. Grain movement sloivest in years HEGINA (CP) Move- menl of prairie grain is Ihe slowesl in four years, E. K. Turner, Saskatchewan Wheal Pool president, said today. "The problem Is so serious, we will be unable lo meet this year's export target unless ac- tion is taken he said, The HeraUl- Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN OILS Alton Albany Alia East 62 Grp Ashland A BP Brenda Cda Gas Cdn Export Gas Cdn Nat Cdn Ind Cdn Long Melro A Cdn Nal Chieltan 8 c Dome 8 C B Nutort A Giant Pipe B Glbrallar Pipe Grt Cdn Trans Lochiel Lyllon North Cdn Numac PanCdn Pan Place Ranger Scurry Tolal Ulster United Wesl MISCELLANEOUS Acres .40 Aquitaine BC Sugar Ptd Block Bros Canbra Foods Cdn A Cdn Pac Inv Carling A Pld Carling B Pld Com Capital Crest 12.25 3.05 3.00 29.75 14.87Vi 19.50 20.87V, 1.95 3.40 August Petroleum Plains Pele Stampede Inl'l Resources MUTUAL FUNDS All Cdn. Compound All Cdn Dividend All Cdn. Venlures American Growlh Fund A.G.F. Special Crjn. Investment .11 .73 5.11 5.47 2.21 3.82 2.10 4.31 F M Trusl Int'l 2.64 Home Oil A Home Oil Investors Corp Investors Stock 1.11 Hud Bay Co Hud Bay Oil Hud Bay A Pld Hugh Russell C Pld Husky Oil Husky Oil B Pld Husky Oil E War Inter Pipe War Inter S 25.12'A 31.00 52.00 16.62'A 34.25 5.37V, 2.00 Fund U.S. Grouped Income Shares Growlh Equity Investors Growlh Fund Mutual Accumulating Nal. Resources N w. Cdn. N.W 2.53 5.36 1073 5.03 5.12 3.63 4.53 3.80 Kaiser Kaiser Res Loblaw C Magnasonics Pacitic 7.15 Pe-Ben Toronto mines, industrials (Supplied by Richardson Securities of Canada) Advocate Valley 'A Can NW Canada Central Gas BO Cons. Com Dickenson Denison Dome 12 'h Discovery East East Falconbridge Pete 24.50 Firsl Marilimes Gianl Cdn 'A Hollinger Lakes Hudson Bay S 30.62% Hydra Iron Walker A Joliel 37V, Kerr Oil Key Lake Langis Grp Madsen 14 Malartic Marlin Maclntyre Douglas 5.75 Intern NuWesl New New Pine Placer Pax Quebec Rio Roman Sherrill Sleep Can Tek Corp. Uniled Grp Western Mm WH Copper Can Wrighl Yellowknife Alrjomp. Alec Agra Bell Brascan New York (Supplied by Richardson Securities of Canada) Amr. Elec Steel 48.37V, Belh. Tel Elec 21.25 Chrysler 33.62 AVERAGES Industrials 184.11 up .01 General Molors 20 Golds 426.77 up 3.14 10 Base Melals up .51 Int western Oils 164.88 up 1.06 Kenn Montgomery YORK AVERAGES Industrials 733.49 up 2.34 Texas Gull Toxas Utilities 79.56 up '06 Wix Corporation Slocks 233.97 up 1.46 Volumo 9.430.000 other TSE issues higher TORONTO (CP) In- dustrials shares lost ground but other 'sectors of the Toronto stock market were higher in moderate mid morning trading Friday. The widely-based industrial index was off .22 to 183.88 after recording modest gains the two previous days. Golds rose 2 92 to 426.55, base metals .23 to 66.39 and western oils 1.17 Lo 164.99. Advances outnumbered de- clines 123 to 109 with 141 issues unchanged. Volume by lla.m. was 000 shares, down from 1.01 million at the same time Thursday Kilembe Copper Cobalt re- quested a trading halt in its shares at the open, pending an announcement. The slock last traded at Earlier this week, Ugandan President Idi Ainin banned copper exports. A subsidiary of Kilembe operates mines in Uganda. Mercantile Bank was off 1 to Steetley Industries to Moore to and Canadian Cellulose lo Nabors Drilling rose to Bell Canada lo and Acres Vfe to Preston Mines gained Vi to Kio Algom 'A to and Brunswick 15 cents to Ranger Oil Canada was up to and Siebens to Pan Ocean dropped to JL2'A. Chicago markets CHICAGO (AP) MosL commodity fuUirus (Icdincd again on major U.S. exchanges Thursday in Ihe absence of any news thai might have stimulated buying. Farm commodity futures moved lower, led by soybeans, soybean oil and Oats fell as much as B cents a busliel. the limit for one session and com and wheat declined 8 and 7 cenls, respectively. It was the second straight limit-decline in oals as new contract lows were set in several op- lions. Pork bellies closed with losses at Ihc limit of 150 points, or cents a pound, while live hog fulures were down more than per hundredweight. Live cattle declined some 33 cents per hundredweight. Shell egg Mures gain- ed nearly 2 cenls a dozen as the crash market improved along with the wholesale demand. WINNIPEG (CP) Most fulures prices bottomed out at or near their daily trading limit in light mid-session activity Friday on Ihe Winnipeg Com- modity Exchange. No commodities were immune from the price slump, a continuation of poor prices and hesitant buyers which developed u week or so ago. Thursday's volume of Irade was (HMW bushels of feed wheat, of oats, of barley, of corn, of rye, of flax and 000 of rapeseed. Mid-session prices: Thunder Bay rapeseed: May 20 lower 5.47A; 20 lower 5.49A; Oct. 20 lower 5.54A; Nov. seven lower 5.5IA. Vancnuvrr Rapcseedr Mar. 17 lower 5.55A: June 20 lower 5.48; Sepi. 19 lower Nov. 20 lower 5 2fl'A. Flax: May 30 lower 6.8IA. July 30 lower 90 lower 6.12A; Nov not open. Feed wheat: May four lower 3.34; July four lower 3.24A; Oct, 12 lower 3.27 A. Corn; Mar. 10 lower 3.05A; May 10 lower July 10 A Calgary pounds 30-38.50. Good feeder heifers over 550 pounds 25-29.50, good slock steer calves over 400 pounds 30-36.10, common all weights 22-30, good slock lieifer calves over 400 pounds 25-28. Common all weigh I 20-25. Earninna Cell nlnyS Dy THE CANADIAN PRESS Abbey Glen Property Corp., nine monlhs tndcd Dec. 31: 1974, 3B cents a share; 1973, 51 cenls. Bank of British Columbia, three months ended Jan. 31: 1975, no per share figures available; 1974, S14B.OOO. Bank of Montreal, three months ended Jan. 31: 1975, 55 cents a share; 1974. 54 cents. Easicrn Provincial Airways Ltd., year ended Dec. 31: 1974, 37 cenls a share; 1973, 84 E-L Financial Corp., year ended Dec. 31: 1974, loss. 20 cenls a share; 1973, profit, 86 cents. Krancana Oil and Gas Lid., year 1973, J3.31. GBC Capital Ltd., year ended Dec, 31: 1974. Sl.3l3.i37. 31 cenls a sliaie, 17 ccnUs. Ci-sco Distributing Ltd., yt-ai muled Sept. 27: 1974, SI.42 a share; 1973. Home Oil Co. Ltd., year ended Dec. 31: 1974, a share; 1973, Hudson Bay Mining Rnri Smelling Co. l.lri., year ended Dec. 31: 1974, a share; 1973, Madeleine Minos Ltd., year ended -'Dec. 31: 1974, 53 cenls a share; 1973, 92 cents. MICC Investment l.lri., year cnilnd Dec. ,11: 1974, 51J3 a share; 1973. Bfi rents. Monarch Invcsimcnts Ltd., 12 months ended Dec. 31: 1974, 308.000, a share; 00 cents. Pine I'olni Mines Lid., 12 months, ended Dec. 31: 1974, (8.17 a share; 1973, Silver futures were lower by 8 lo 10 cenls an ounce in Chicago and New York, generally following a sellolf in futures, which lost about an ounce. World sugar futures fell back 1 lo 1 M: cenls a pound in very active trade. Cotton futures also lost ground, but cocoa and copper posted gains while frozen orange juice was about sleady. At the close of grain trade, soybeans were 10 lo cents a bushel lower, March 5.11; corn to Blower, March wheats lo7 lower, March3.63: and oats down lo 6 cenls, March 1.47ft. Grain quotations Thursday: Wheat: Mar 3.63; May 3.64; Jul 3.55; Sep Dec 3.69. Corn: May 2.72; Jul 2.73; Sep 2.62; Dec 3.48ft: Mar 2.51 Oats: Mar 1.47ft; May 1.40; Jul 1.35; Sup 1.331'j; Dec CALGARY (CP) Receipts to 11 a.m. Friday from the Calgary public stockyards totalled about head, practically all feeder cattle, slock calves and cows. Trade was moderately active with no good slaughter sleeps or heifers on offer early. Cows sold sleady wilh Ihe hulk of cows in Ihc lower grades. Cows Dl, 2-19-21.25, D3-16.50-19, D4- 12-16. Bulls 18-20. Feeder cattle on offer were mostly steers weighing 600-750 pounds. Heifers were in Ihe 600 pound weigh! range where prices were steady. Stock cows were mainly in the 400 Grain quoles Thursday basis Lakehead: High Low Close Flax May 742 711 711 Jly" 721 590 690 Oct 642 Nov 615 Rapeseed Thunder Bay Jly' 569 Ocl 574 Nov 558 Hapesciid Vancouver Mar 5D9 572 572 Jun 594 568 568 Kpt 5BO 5S9V4 Nov 566 MBK 548 Vi Rye May 227 219 219 Jly 221 215V2 Oct 224 221 Barley May 233'A- Jly 228 227 22? Ocl 22B Oats May 163 159 159ft Jly Ocl 161 Corn basis Montreal Mar 315 May 299 ft Jly 317ft Feed Wheal May 340 337ft 338 .Jly 32fl Ocl 339 Street prices FLAX 1CW 6.78. 2CW 6.73, 3CW 5.28; RYE 2CW 1.74, 3CW 1.69, 4CW 1.32; RAPESEED I 2 Canada 5.01, 3 Canada Feed Grains basis 43 cenls CWT Thunder Bay freight rate. WHEAT 3CWRS 2.87ft, 3 utility 2.67ft; OATS 1 feed 1.26, 2 feed 1.21; UAHLEY 1 feed 1.9Z. 2 feed 1.88. Canadian wheal board selling prices basis Thunder Bay. WHEAT- 3utility 4.02H: OATS -1 feed 1.62. 2 feed 1.59; BARLEY 1 feed 2.40, 2 feed 2.38ft. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds ai noon Fri- day was up 110 at 4-5. Pound sterl- ing was up 49-100 at 42 23-50 In New York, the Canadian dollar was off 1-10 at Pound sterling was up 1-4 at 23-25. Gold prices LONDON (AP) Closing gold prices Thursday in U.S. dollars per ounce: tranrta win t IMS I IICIIVICT MONTREAL (CP) A further reduction in the prime interest rate was countered by a drop in the United Stales' money supply, causing prices on Ihe Montreal Stock Exchange to drift aimlessly Friday. First National City Hank of New York, tliu second-largest U.S. bank, announced a cut lo fl'A per cent Irom Oft per cent in the rale charged lo its mosl credilworlhy customers al the opening Friday, but Ihe impact was disclosure, after Ihc close of trading Thursday, lhal Uic money supply had decreased on the week, analysts said. Utilities added OBI lo 141.65, but papers lost 0.% lo 102 42. banks 0.83 to 253.10. industrials O.lti lo 186.85 and Ihe Volume al a.m. was 233.900 shares compared wilh 277.100 shares Thursday. Falcon Nickel lacked on lo SU2 and Bell Canada added S4BM.. while Moore Corp. surrendered 1 lo and Alcan Aluminium dropped l'i Among speculative issues, Western Quebec Mines was up three cenls aMl cenls on volume of 3.500 shares. Hong Kong-179.47 Ucirul-5.945 dollars per kilo THE CANADIAN PRESS Corporation dividends Tuesday, quarterly unless otherwise noted, Abbey Glen Properly Corp, five cents. April 17. record March 17. Canadian Salt Co. Ltd., 25 cenls, March 31, record March 7. Comlech Group International Lid., fivc-pcr-ccnt pfd., lo cover five years of arrears, March 28, recoid Fob 28. Frnscr Co. Ltd., class A, 40 cents; class 40 cents, both payable March 28, record March 7. MicMllhn .BIoHel Ltd., .50 cents, March 17, record March 5. Thornton .Newipiper cenl pfd. series A, 84.375 cents, March 15. record Feb. Zfl, Selkirk HoMingi Lid., class A, 10 cents. March 31, rcconl March 17. couver Stock Exchange. Early volume was 93.600 shares. IP. the industrials. Venture was un- changed al .25. In the mines. Thor Ex- ploration up .05 al In the oils, Cop-Ex Mining up a half-cent al .13ft. Curb exchange volume was shares. Consolidated Monarch was up 01 at 40 Prices were down Thursday in light trading. Closing volume was shares. In Ihe industrials. EDP Industries was unchanged al .05; Ncwmark up .05 al Venture unchanged al .25; Compulrex unchanged at .20: Saratoga A down .10 al Block Bros, up .05 al In Ihe .37ft; Charla down .02 al .18; Mark V up .04 al ?1 21; Anglo-Bomarcup .01 al .81; Cutlass down .04 at .39. Skaisl up .02 at .24. lower 3.07V2A. Harley May lower 2.26; July 8ft lower Ocl. 10 lower 2.18A. Oals: May eight lower 1.51 VzA; July eight lower Ocl. five lower 1.S6A. Rye: May 15 lower 2.04A: July 15 lower Oct. 15 lower 2.09A. 85; Stampede unchanged a I .72; Payelle down .01 at .11, Panocean un- changed al Alaska Kcnai un- changed al .13. ClosinR volume on the curb exchange was 657.282 shares. Daws on Range un- changed al .16, Highland Star up .01 at .37; Mundee Mines unchanged al .30: Doru Mining down .03 al .32; Belrnoral up .02ft at .34 Cadet Resources down .OS at .25. NEW YORK (AP) The slock market, confronted with a stubborn sluggishness in Die availability of money in Ihe U.S. economy, dropped back very slighlly in quiet trading Friday. Dow Jones average of 30 industrials was down .31 at 730.FM, and losers held a G-to-5 advantage over gainers on the New York Slock Ex- change. Polaroid was Uic most aclive issue on Ihe NYSE, down al At Ihe American Stock Exchange, the market-value index rose .24 to 77.09. The NYSE's composite index of all its listed common slocks registered a loken .01 advance lo 42.71. Among Canadian issues on Hie NYSE. Dome Mines was up ft lo and Campbell Red Lake "s lo Massey Ferguson was down lo S15ft and International Nickel Vn lo ft. Canadian Pacific was unchanged al as was Alcan at MONTREAL (CP) Friday's mid- day foreign exchange selling rales supplied by the Bank of Montreal. Bermuda dollar France franc .2430 Germany mark .4425 Italy lira .001620 Spain peseta .0183 Switzerland franc .4200 United Stales dollar 1.0005 United Kingdom pound Z 44 U.S.S.R. ruble 1.3545 Quotations in Canadian funds. prices EDMONTON (CP) Prices lo II a m. I'riday provided by the Alberto Hoy Producers Marketing Board. Thursday prices in brackets: Edmonton 51.26 150.401. Calgary 51.27 Lethbridge Nil Fort Maclcod Nil Nil lings sold lo 11 a.m. 3.38H. average ftftlH UOId WINNIPEG (CP) Gold futures. U.S. lunds, Winnipeg Commodity Ex change close Thursday. 100.0UNCE CONTRACTS: Apr 75 181.50; July 75 185.70A: Ocl 75 Jan 7fi 194.SOA; Apr 76 199.30A. Wednesday's volume: 279 contracts. 100.OUNCE CONTRACTS: Feed prices WirSNIPiJ-.; " ijO.lIU domestic feed grain prices Thursday: Iced barley No. 1 Iced oals 1.59 'a. MOTORS APPLIANCE MOTORS Available Best Prices All Types! Filrfirid Appliance Services Ltd. Phorw 327-MI4 ;