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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 5, 1972, Lethbridge, Alberta A I Market prices up in brisk trading TORONTO (CP) Trading iras brisk and all major sector >f the Toronto stock marke posted broad gains in mid-morn ing trading today. The industrial index was ahead 1.56 to 185.86, golds 1.7 to 151.42, base metals .20 t 90.71 and western oils 3.47 to 223.21. Volume by 11 a.m. was shares compared with a the same time Tuesday. Advances outnumbered de- clines by more than three t me, 180 to 54 with 154 issues unchanged. Banking, communications, oi refining, steel and merchandis ing stocks recorded strong ac ranees as 15 of the Industrie index's 17 sub-groups moved Higher. Construction and materials is lues were generally unchanget while utility issues edged frac Sonally lower. Falconbridge climbed 1 to Inter national Utilities t Inco y 3.60 Inter Mariner .66 Corp Invesr 4.68 5.33 Okanagan Hellcop fl.50 Corp In St F 5.14 Paclllc W Air 14.00 Dreylus F U.S. 13.53 13.73 Stampede Inll Res .62 Gr In Share 3.52 3.67 OILS Gr Equity 6.42 7.05 Albany Oils 49 Invest 6? F 11.15 12.19 Invest Mutual 5.41 5.91 plllns Ptly the Alberta Hog Producers Board. Edmonton: 24.10, average Tuesday, 24.23. Red Deer: 24.20, average Tuesday, 24.35. Calgary: 24.15, average Tuesday, 24.33. Lethbridge: No sales, aver- age Tuesday 24.35. Lloydminster: No sales, av- erage Tuesday 23.85. Grande Prairie: No sales, average Tuesday 23.85. Total hogs sold to 11 a.m. 549. Total hogs sold Tuesday Average 24.23. Sows av- erage 14.75. CRYING SHAME WATFORD, England (CP) fhen amateur actress Lynda avory had a baby, the local ramatics group was delighted child would provide the recorded sound effects for their atest play. But since rehearsals e g a n, six-months-old baby Alan hasn't shed a tear for the tape recorder which is switched n day and night. "My husband and I haven't had a quieter me for Lynda said. It looks as if Alan won't play awl." January 5, 1971 THE LETKMIDGE HEULD 27 Construction regulations for pipeline weakened WASHINGTON (AP) Rep- resentativc Les Aspin (Dem. said here that pro- posed federal regulations for the construction of the trans-Alaska oil pipeline apparently have weakened over the last year. Aspin based his statement on what he called a U.S. interior department draft of environ- mental stipulations for the 800- mile pipeline proposed by oil companies united as Alyeska Co. Aspin said the 48-page draft and other documents and re- ports he had obtained "prove conclusively that, in the case of the trans-Alaska pipeline, the interior department has been acting as little more than a sub- sidiary of the oil companies." Alyeska is seeking an interior department permit to cross fed' eral lands with the plus pipeline which would carry oil from Prudhoe Bay wells on the North Slope to the Ice-free Gulf of Alaska port of Valdez. Aspin said in his statement that the new environmental stip- ulations, required by law, are weaker than those contained in an original draft published one year ago. At hearings held on the origi- nal draft, conservationists pro- tested that regulations would Business Spotlight Brokers confident of better year TORONTO (CP) Volume and value on Canadian stock markets during 1971 were not as low as some had expected they would be and brokers are confi- dent of a still better perform- ance this year. Pretiminary figures show the value of stocks traded on Cana- Insurance firms merge TORONTO (CP) Reed Shaw Osier Ltd. of Toronto and Armstrong and Taylor Ltd. of Winnipeg merged their insur- ance brokerage businesses Jan. 1 under a previously-announced arrangement. Both firms have .offices in Canada and overseas. The merged business will operate under the Heed Shaw Osier Ltd. name. Armstrong and Taylor was an affiliate of James Richardson and Sons Ltd Winnipeg, which now becomes an Important riiarehoHer of Reed Shaw Osier. Price 'of the transaction was not disclosed but included shares of Reed Shaw Osier Ltd., a public company listed on the Toronto Stock Exchange, ana' cash. Electrical workers get p5.85 an hour RED DEER (CP) Elec- rical workers have reached an agreement with the city which will give journeymen linemen 5.85 an hour in June of 1973. The 17 workers, members of the International Brotherhood jf electrical Workers, Local 254, receive an 8.29 per cent ncrease Jan. 2, 1972 and 6.67 per cent Jan. 7, 1973. Journeymen now earn n hour. dian exchanges during 1971 to- talled billion, an increase ol about 29 per cent from the billion a year earlier. Voume was up about 12 per cent with 1.5 billion shares changing hands compared with 1.3 billion in 1970. The Toronto Stock Exchange accounted for the major share of the activity. Volume during the year at Toronto was 545.5 million for a value of bil- lion Brokers start the year on a note of confidence. Robert Parsons of Bums Brothers and Denton Ltd. says the public still is out of the mar- ket and a return of the individ- ual investor will be good for the retail side of the business. MAY TOP J. Pearce Bunting, president of Alfred Bunting an' Co., To- ronto, and a Toronto Stock Ex- change governor says: "We will be very surprised if the Dow Jones industrial aver- age is not higher than by the end of 1972." Analysts expect the new capi- tal gains tax to have little effect on the positions investors take during the year. Donald Lawson, chairman of the board of governors of the Toronto exchange, says any ef- fect on trading resulting from the tax will be of short duration, although some hesitation among investors is expected until they adjust to the new tax. "Some very bad investment decisions can be made by per- sons who don't take a profit be- cause they don't want to pay a iax. The result is they some- times lose opportunities for profit." Mr. Parsons noted "the United States has lived with it ;OT many years and we will learn to live with it as well." "All the signs are con- cluded one market analyst. Beef futures WINNIPEG (CP) Live beef fuiures close Tuesday. Jan 35.00B; Mar 34.35N; May 33.50A; Jly 32.50B. Monday's volume: two con- racts. not protect the environment from possible oil spills and other damage. "While we opponents of the pipeline have known all along that our chances of stopping the Alaska pipeline were Aspin said, "the very least wa expected was that the vague and inadequate environmental stipulations presented last Janu- ary would be greatly strength- ened." Aspin said he had written to Interior Secretary Rogers C. B. Morton, asking him to call pub- lic hearings on the new environ- mental impact statement and to delay action on the pipeline per- mit application for at least 90 days. Aspin said the new draft tie- emphasizes the importance of preventing water pollution and requires only that damage caused by the pipeline be "re- stored to the satisfaction of the authorized officer." The original draft would have required that any damage be repaired to a state "at toast equal to the condition thereof Immediately prior to such dam- age or destruction." Rivalry fades at Sirnpsojis birtliday party TORONTO (CP) Re- velry overcame rivalry Tuesday as Robert Butler walked across downtown Queen Street to wish his competitor well. Mr. Butler, president of T. Eaton Co. Ltd., joined about 400 other civic and business leaders at a party marking the 100th anniver- sary of Simpsons Ltd. of To- ronto. Simpsons and Eaton's have department stores across from each other in Toronto's downtown shop- ping district. OIL TYCOON A. Brown, president of Home Oil Co. Ltd. of Calgary, died in Toronto while on t bull- ness trip. He was 57. Lee RILEY McCORMICK JANUARY CLEARANCE of BRAND NAME JEANS LEE, LEVIS Due to the tnrnimejoui sponu to our year-end we are repeating our let) and Levli clearance of floret and bell ALL AT THE ONE LOW PRICE OF.... SC.77 6 AUTHORIZED TONY LAMA AND AMERICAN HAT Dialer In Southern Alberto BRING IN YOUR OLD LEE AND LEVIS THEY ARE WORTH ON THE PURCHASE OF A NEW PAIR FOR THE MONTH OF JANUARY (THESE ARE FOR REFUGEES IN FOREICN COUNTRIES) SHIRT CLEARANCE FAMOUS WESTERN SHIRT BRANDS CLEARING OUT NOW AT ONLY RILEY LIMITED South Alberta's Pioneer Western Store Everything far Western Rldir and hli Hone CENTRE VILLAGE MALL Fhone 35S-5W4 ;