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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 7, 1972, Lethbridge, Alberta jonuary 7, 1971 THI UTHMIDOI HKAID Industrial stocks post big advance TORONTO (CP) Industna issues continued to post large advances as prices in all sectors of the Toronto slock market moved higher for the sixth con eecutive session in active mid morning trading today. The industrial index was up 1.2Z to 191.09, golds 2.13 to 158.28, base metals .28 to 82.86 and western oils 2.83 to 229.89. Volume by 11 a.m. was 1.07 million shares, compared with 1.03 million at the same time TTiursday. Advances outnumbered de- clines by almost tbree-to-one, 216 to 73 with 178 issues un changed. Banking, construction anc materials, oil refining, in- dustrial mining and real estate issues .recorded broad advances Steel, chemical and utility is- sues registered fractional de- clines. Bow Valley climbed IVt to Imperial Oil to Royal Trust 54 to Hudson Bay Mining to Pan- Canadian Pete ft to and Walker-Gooderham to Alcan gained to Gulf Oil to Home A to t3VA, Numac to ?15V4, Crown Life to ?32% and Scurry- Rainbow to Hollinger fell to ?39, Tara to Union Gas Vs to Asbestos Corp. 14 to Bell Vs to and Cana- dian Industrial Gas Va to LIGHT TRADE MONTREAL (CP) Prices were up in most sectors in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11am. was shares, compared with at the same time Thurs- day. On index industrials rose 1.34 to 197.11, utilities .84 to 161.54, backs .75 to 240.24, and the com- posite 1.18 to 195.10. Papers dipped .M to 85.44. Credit Foncier rose 3'A ID on 120 shares. Simpsons Sears gained HI to British Colun> bia Telephone 1 to Cana- dian Cabiesystems 1 to ?15i4 and Royal Trust 1 to Declines included Price, down By Gene Fawcette OLD FAITHFUL SE1SER MAr BE AN EARTHQUAKE ALARM AS WB1 AS A SPECTACULAR NATURAL PHENOMENON. AFTER COMPARING THE RECORD OF SE-iSER ERUPTIONS WITH EARTHQUAKEOCCUR- ANCES, GEOLOGISTS HAVE DISCOVERED AN AMAZINGLY CONSISTENT PATTERN... to ?7n, Celanese Canada Vi to Bombardier to Ivaco to and Abitibl Vi to SLIGHT GAINS NEW YORK (AP) Stock market prices scored slight gains today ignoring a negative report about the unemployment rate. Trading was active. Tbe noon Dow Jones average of 30 industrial stocks was up 1.35 at 909.84. Canadian stocks joined in the general bullishness. Dome Mines led the parade of gainers on the NYSE, up 1 at Walker Gooderham and Interna- tional Nickel each advanced Alcan was up and ahead V, were Granby Mining and Hud- son Bay Mining. On the American Stock Ex- change, Scurry Rainbow gained Brascan Ltd., Canadian Jav- elin and Molybdenite Canada each added Vi and Preston 1-16. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty. HoMJhome ud McCmlg) LAST BID OR SALE i.m. OvotM) WIITIIH DILI i.m. Quotes) i.m. Quotel) Almlnex Alia East Gas Asamera BP oil Gas Can South Cdn Ex Gas Cdn Homeaid cdn Homa Pfd t.H JB 6.50 3.8! 9.30 17.00 Hud Say Oil Pld 56.00 Invest Mutual S.a 1.0 Hugh Russell 19 62H ISO Husky Oil 17.2S Mutual Gr _.. _ j. fjat Ris 7 30 1 N W Gr principal Br Royfund Temp Unlled cdn Super Charier Chleltan Dome Pete Gl Plains 61 CdJl Oil Lochlel North Cdn oil Numac Pan Cdn Pete Pan Ocean Pelrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Selbens Total Ulster Weil Decani West Pete West Cdn Seed While Yukon CALOIiRY Acroll Barons Oil Madison North conl West Warner 4.40 .45 .04 1 .70 9.10 7.05 1.74 7.40 10.50 Gr _____ Ac Universal 5av .._ VANCOUVER MINI! 10.12V: Arctic Mining Atlas Explor Balh Norse Branda .12 Churchill Copper D214 Croyden .45 Dankoe Drtly Varden Dynasty Granlsle Kamloops Copper Lornex Lytlon Minerals Primer Pyramid Silver Standard 5.2J 5.7 9.6 4.40 SM 1.3 4.39 4.8 5.17 5.44 g.l 5.11 5.6 7.Si 1.1 Husky Oil 72'iT'A Husky Oil War in Inter Prov Pipe 15-25 Inter Prov Steel 850 Kaiser Res 4.50 Lake Dulault MGF Manage Cdn Ind Gas OH 10.3714 Pacific Pete Cdn Long Is .70 Rainier 4500 5.25 8.40 35.25 32.50 5-10 1.70 6.0D PIPELINI STOCKS _______ Alia Gas Tr L A 52.3714 Fort Rellanci A a Gas Tr L Pfd 75.62V4 Giant Mascot Ala Nat Gai 21.00 inland Nat Gas 13.00 N and C Gas 15-00 N anB C B Pld 30.00 Gas Tr 13.00 14.62W oil Metro 5.50 1.1S Gaz Melro Pfd A 67.00 Tr Cdn P 38.00 Texmont Tr Cdn P Pld B 43.00 Trolan Tr Cdn P Pld A 71.00 Valley Copper Tr Cdn P war 12.50 WC Res .06 WC Res M.IJW wr Wts B 50 Block Bros 3.50 MUTUAL FUNDS B.C. Sugar All Cdn Com 1.48 9.27 B.C, Sugar Pld All Cdn Dlvld 9.46 10.34 Cap! Inter All Cdn Vent Amr Gr F AGF Special Cdn In F Col Mutual Cmnw Inter Cmnw Lev Corp Invest .27 .09H .35 1.32 4.70 .15 .14 5.35 1.10 .07 7.95 1.60 .08 .3314 V36 .39 .32V4 1.25 MISCELLANEOUS INDUSTRIES Aquatalne Brlnco Cdn Brew A Cdn Brew 8 Cdn Pacific Inv Crowsnesl Ind Cygnus A Cygnus B Genstar Home A Home B Hud Bay Co Hud Bay Oil 32.00 35.50 25.50 26.00 6.75 6.50 13.50 34.00 33.50 19.50 44.00 3.73 4.07 Creslbrook F Ind 4.45 7.08 Growers B 3.14 Key Indust 4.86 5.53 Hys 6.2B 6.90 Interior Brew I3.il Inler Mariner 3.54 3.B9 Okanagfln Hellcop 5.79 6.33 Pacific Corp In St F 5.02 5.49 Stampede Intl Res Dreyfus F U.S. 12.75 13.95 OILS Gr In Shares 363 399 Albany Oils Gr Equity 6.60 7.25 Plains Pete Invest Gr F 11.46 12.53 Western Explor 19.25 16.50 6.00 4.20 3.65 .22 3.30 3.70 .40 6.50 14.75 Grain prices Winnipeg Grain WINNIPEG (CP) Rape- seed prices moved aheac slightly in a good local am commission house trade at mid session on the Winnipeg Grain Exchange today. Export ers were also active buyers in ibat commodity. Other commodities were firm a fractionally higher. Thursday's volumne of trade was bushels of flax, of rapeseed and 000 or rye. MIDSESSION Flax: May Vh higher July 2% higher 2.51A; Oot. ZYs higher Rapeseed Vancouver: Jan. higher March 214 higher 2.50A; June 2V4 higher Rapeseed Thunder Bay: May 1% higte- July higher Oats: May unchanged July unchanged Barley: May unchanged July unchanged Oct. unchanged 1.0GB. Rye: May higher 95MB; July higher 97. Grain quotes Thursday (ba- sis High Low Close Flax May 248% 247 248 Jly 248% Oct 253% Rapeseed Vancouver Jan 240 243% Mar 247% MTA Jun 25iy4 247% Rapeseed Thunder Biy May 238% 235% 23814 Jly 239 239 Oats May 67'A 67% fffli Jly 6Sy4 68Vi Barley .lay 108Vi lOS'A Jly 107% Oct 108 Rye May 9514 94Vy the Alberta Hog Producers Marketing Board. Edmonton: Nil, average Thursday 23.55. Red Deer: Nil, average Thursday 23.74. Calgary: 23.25, average Thursday 23.56. Lethbridge: N i I, average Thursday 23.25. Uoydminster: Nil, average Thursday 23.02. Grande Prairie: Nil, average Thursday, 23.35. Total hogs sold Thursday average 23.53. Total sows sold 20, average Beef futures WINNIPEG (CP) Live beef futures close Thursday. Jan.------35.25A; Mar. S4.10 A; May 34.40A: July 32.50 N. Wednesday's volume: 4 con- tracts. authorities fear may run into millions of dollars. The worst damage is in the Coaehella Valley of Riverside County, where me winds and lowest temperatures in the area in 17 years caused an estimate million or more loss Wednes- day, destroying 80 to 90 per cent of the tangerines still on the trees and much of the other un- picked citrus fruits. Heavy losses were also re- ported in other areas in orange, grapefruit and vegetable crops as the mercury sank into the 20S. The freezing ing in the early morning and caused by a high pressure sys- tem over Nevada and Utah- was expected to continue through Friday. FEAR 20 DEAD MERIDA, Menco (AP) A propeller-driven commercial airplane with 20 persons aboard crashed Thursday night 25 miles from Chetumal, spokesman for the Special Air Services Co. said. Early reports said there were no survivors. The com- pany said the passengers all were believed to be Mexicans. Fanners spotted the wreckage near Bacalar. PHARMACIST A pharmacist with a currant Alberm Ikenia li ra- quirad immediately for pirmonfnt full-tlm. employment with th. Calgary Co-operallvt. Thill petition ihould of particular Intern! to lha rH.nl graduate with an lnltr.il In advancing to o r.lall manag.m.nl poilllon. W. offer exollent working candltloni with ragular itor. ihopplng hours, no Sunday or Statutory Holiday work and a lalary commeniurat. with quallflcatloni and pirl.nct. Apply In confld.nc. to: MMONNIL MANAOM CALOART CO-OrSKATIYI till MACLIOD TKAIl CAIOARY AITA. Ptdliser wheat growers meet National farm marketing bill greeted by little enthusiasm By RIC SWIHART Staff WrUer REGINA The Palliset Wheat Growers' Association re- action to the national farm products marketing bill C-176 was anything but enthusiastic oday follojring approval by the Senate Banking Committee. Walter Nelson, President oF PWGA, said "he doesn't see any marketing board or agency and the corresponding added controls beneficial to western agriculture." He said a large part of the Canadian agricultural product must be exported and this re- quires freer movement, less control and less restriction. "Marketing boards are the more he He said every producer-own- ed and controlled boards could K detrimental to the agricul- ural scene. The Nova Scotia Milk Marketing Board raiser! the price of milk so high nobody could afford to buy it. 'It actually put some pro- ducers out of he said. "The producers really wanted the board in the first jlace." Bill C-176 would establish a national marketing council which would allow the estab- Ishment of national marketing for individual com- modity groups. Ths group has not taken a stronger stand on the issue be- cause wheat is not included in the plans of the bill. Wheat is already controlled by a na- tional marketing board, saad it. Nelson, with a noticeable wince, as he repeated the Ca- nadian Wheat Board. 'We must have greater pro- ducer involvement in the op- eration of tbe Canadian Wheat he said. 'It is now being run by peo- ple who have different inter- 'The producer wants to sell as much grain as possible but he bureaucrats (who run tbe don't have to sell wheat to make a living." Mr. Nelson said the Palliser group would like to see the -rain handling system capac- ty increased to one billion bushels annually. Presently the system is being used to ca- pacity with 700 million bushels noved through. He cal'ed for more facilities m eiport positions on the coasts and for bulk loading and handling systems supple- Safeguards likely to go OSHAWA, Ont. (CP) The ederal government probably will announce suspension of pro- action safeguards in the Can- ada-US. auto pact before Jan, 20, New Democratic Party member of Parliament for Osb- awa-Whitby, said today. Ed Broadbent said in a tele- >bone interview from Ottawa he nought tbe suspension would be or a two-year period. The announcement likely will ie made prior to a report by ohn Connally, U.S. secretary of he treasury, on trade agree- ments arising from the elimina- ion of the 10-per-cent U.S. sup- jlementary duty on imports, lr. Broadbent said. He said Mr. Connally was scheduled to make tbe report 'an. 20. mented with unit trains for moving optimum amounts of grain to the export market. He lashed out at the federal government opposition parties for Kn dropping of the stabili- zation bill C-244. Bill C-244 was an attempt to take the highs and lows out of the agricultural grain picture with a mllion Iransitionid payment immediately and spe- cial payments to farm ers should the price of wheat fall below Hbe five year aver- age. Federal Agriculture Minister Bud Olson said the filibuster by the opposition was directly responsible for tbe failure of the bill to gain passage Mr. Nelson said the bill was a step in the right direction. He laid blame directly on the shoulders of the Saskatchewan Wheat Pool for the failure of the bill to gain passage. "Hie Pool took strong opposi- tion to the removal of the tem- porary wheat reserves act (money paid to farmers for grain stored while waiting for said Mr. Nelson. "At one time the Pool wanted more grain in government stor- age. "They wanted money through the back door via storage pay- ments." By doing this, said Mr. Neil- son, the Pool created suspicion in the minds of the New Dem- ocratic Party, the Progressive Conservative Party and the farmers In general. Mr. Nelson said there will be a resolution Saturday .calling for the elimination of ail stor- age payments by farmers for wheat in the country elevator system. He said the farmer Is willing to pay storage for grain if it is in ejcport position only. Boxcar purchases urged REGMA (Staff) The fed- eral government should apply million to purchasing box- cars instead of paying "wel- fare" to Canada's farmers, said Orville Reber of Burdett, Alber- ta's only director to the Palli- ser Wheat Growers' Associa- tion annual convention here. He was referring to the sta- bilization bill C-244 which would replace tbe temporary wheat reserve act witti a transitional payment of million. Tlie bill was tost in this session of parliament when op- position members filibustered the legislation. Mr. Reber said Hie boxcars would be used for hauling grain and UK additional cars would ensure that grain would be moved when the market de- manded. He said this action wouldn't take cars away from the rail- way when tihey are needed in other positions. They would be solely for grain hauling. This would ensure the farm- er Of being able to move grain to the export positions where the sales can be made, said Mr. Reber. It would keep the grain ter- minals on the prairies busy as well as the private grain clean- ing plants. "This would also take care of the surge grain situation for the farmer (the helter-skelter movement of said Mr. Reber. The convention opened today with a report from the associa- tion by president Walter Nelson, a report on the unit train which hauled bushels of grain from Saska- toon to Vancouver and a pre- sentation from fine Canadian Wheat Board, Canadian Na- tional Railways and the Cana- dian Grain Commission. Saturday, Eicchi UehHa, Consul General of Japan, and E. K. Turner, president of the Saskatchewan Wheat Pool, will be featured speakers. Alberta concerned on plans to limit foreign investment EDMONTON (CP) Pre- mier Peter Lougbeed sai( Thursday Alberta is concemet about the possibility of a limi on foreign investment when Ot tawa announces its position on Livestock Lethbridge Livestock NOT AVAILABLE AT PRESS TIME TODAY Calgary livestock CALGARY (CP) Receipts on the Calgary livestock mar ket to 11 a.m. were bead mostly replacement cattle am con's. Trade was active. Slaughter steers and heifers sold steady for quality. Cows were under pressure with prices 75 cents to lower Bulls steady with sales to 26.40. Good to low choice steers 33 to 33.90, medium 31.75 to 32.75 Good to low choice heifers 30.25 to 31.70, medium 28.75 to 30 Good! cows 21.25 to 21.60, medi urn 20 to 21, canners and cut ters 18 to 20. Good bulls 23.50 to 26. Replacement cattle were mostly yearling steers, meeting a good local demand at strong prices. Stock calves were most ly in the 400 to 500 pound weight range, selling at steady prices. Good feeder steers 600 to 750 pounds 35.50 pounds up 34 stock steer calves 38 to 44.40. Good stock heifer calves 33 to 36, lightweights to 37.75. Good butcher weight calves 33 to 34. Hogs average base price 23.25. to 39.90, 75( to 36.75. Good FOR SALE RESTAURANT EQUIPMENT BALANCE OF LEASE TENDERS will be received by the undersigned up to P.M., January 17, 1972, on oil of the equipment, ulen- llll, lupplies, leasehold Improvements and balance of.lhn lease of the premises located at 7602 Macleod Troll, Calgary, (formerly occupied by J. B.'s Big Boy BIDDING FORMS, and particular! of assets may be ob- tained from the Trustee prior to the closing of bidding. Ap- pointments to view the premises may be made by contacting Mr. T. O'Keefe at 263-X800. Bidi must ba in saol.d en- marked Inns and Restaurants and be accompanied by a certified cheque for 10% of the tender. Hlgheil or any tender not necessarily accepted. All bidders or. Invited to attend the opening of the tender! at a meeting at the office of the Trustee, Immediately fol- lowing the doling of th. bidding. JAMES C. FOWLER, C.A. Trulte. of tha Estate of VIP'! INNS AND RESTAURANTS LTD. In lanltruptcy Roil and Co., 500, 400 oth Avtnvo S.W., Calgary 1, Altwrta foreign ownership in i There has to be greater par- ticipation by Canadians in the country's economy and busi- ness, Mr. Lougheed told a ser- vice club luncheon meeting, but "if we sell internationally, surely we have to welcome people here who have been good corporate citizens." He said tbe business com- munity can't "play a bystand- er role" on the issue. The premier said the Alberta economy c o n t a i ned some bright spots as 1972 started, notably a strengthening live- stock picture and increases in building permits and residen- tial construction starts. But tliere were other ques- tion marks besides foreign in- vestment the direction Can- ada's floating dollar will take, British entry into the European Common Market, United States buy American programs that leave Canada "pretty well ex- the implications of the federal Competitions Act and uncertainty about tax reform. few ITiere also was the national energy board's decision to curb additional exports of gas to the U.S. Mr. Lougheed said the) board's decision creates prob- lems because if Alberta want! a long range share of Ameri- can market areas it should be there first. Alberta had to be in a posi- tion of making shipments so it bad the leverage to increase processing in the province. Mr. Lougheed said the ener- gy board's decision forced tbe province into a position of hav- ing a monopoly buyer for its natural gas white there Is a seller's market. The premier said the Alberta government is also concerned about some of tbe actions of tbe federal department of regional economic expansion, He said there was one In- stance where a federal subsidy area was established in Sas- katchewan, artifically support- ing an operation that in turn underbid Alberta contractor" on a job in Edmonton. Money earns good, safe interest in a Lombard North Central Deposit Account A Bank Deposit Account with Lombard North Central provides a good rate of interest, with complete safety for your capital leading to financial peace of mind. Deposits at 6 months' notice of withdrawal earn 6% Interest per annum. The rate for deposits exceeding it subject to negotiation. Interest is paid half-yearly without deduction of U.K. tax and up to can be withdrawn on demand during each calendar year. TIME DEPOSIT period deposits of and over can earn higher rates of interest. Details are available on request. Opening an Account is simplicity itself, so write now to tha Deposit Account Manager for further details and a copy of Deposit Account Booklet No. AO 516. Lombard North Central Hud Oltiea: Lombard Houx, Cunan Strut. London WU1EU. England. 4994111 Lombard St., lemon EC1 Enaltns. M-OI-S2J4III Lombard North Cantiil Limited Is i mamtar of lha National Wastmlnilar Bank Group whose Capital and i ucild ;