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Lethbridge Herald (Newspaper) - January 16, 1971, Lethbridge, Alberta 111 Savings bonds seen best buy OTTAWA (CP) - With Interest rates tumbling in all directions for savers end investors, Canada Savings Bonds have emerged as an even more attractive buy. Paying 7.75 per cent Oils year and 7.81 per cent if held to maturity in 11 years, (be bonds that went on sale last November are still available through banks, investment dealers and other tutiiorized sellers. Normally, one year's bonds remain on sale until a couple of months before the next issue is1 made available, and last November's issue could be bought, with payment for the accrued value of interest coupons, until next August. But with bank deposit interest rates and interest available on other forms' of savings and investment certificates falling, the question arises as to whether the government will continue to welcome fresh sales of the 1970-71 bonds. So far, government sources indicate, no real thought is being given to withdrawing them. 800 gallons pumped down drain VANCOUVER (CP)-A lot of people snarled Thursday when an oil delivery man put a tiger in the wrong tank. The unidentified driver was supposed to deliver 800 gallons of furnace fuel to a local food chain store. Confused by deep snow he mistook a sewer cover for an oil intake valve and dumped the oil into a storm sewer beneath the home of Mrs. Alice Tilley. Before long British Columbia hydro was flooded with calls from anxious residents in the area who thought they had gas leaks. The city sewer department was called in and so was the fire brigade. City officials said there was no danger of fire or explosion although an Imperial Oil Ltd., spokesman said every precaution was taken. Upward trend continues Finance Minister Edgar Benson has authority to withdraw them from sale at any time, without notice. Sources say, however, that he would normally have to give some notice because of the large number of sellers. They should all be made aware of the end of sale at the same tim�. Last Nov. 18, when nearly all of the regular fall sales drive returns were in, Canada Savings Bonds outstanding-including the new and all previous issues-totalled $7,206 million. While sales continue, there is normally a net weekly redemption of bonds as holders want or need the ready cash. But in the week of Dec. 3, new sales exceeded redemptions by $3 million. The normal net redemption rate has1 been $6 million to $16 million a week. At last report, on Jan. 6, $7,396 million of all CSB issues was still outstanding. The treasury, which needs all the ready cash it can get this year to cover the projected federal deficit and meet its lending commitments for housing and other programs, is happy to have as much money as possible coming in through the sale of Canada Savings Bonds. ALWAYS CASHABLE The Canada Savings Bonds differ from normal bond market issues in that they are always cashable for full face value plus earned interest. Their price does not fluctuate with market conditions, as does the price of market bonds. The government does not seem embarrassed by any fresh inflow of money from CSB sales, and there appears to be no sign their continued sales is upsetting normal bond market activity. CSB buyers aire mainly small investors, and there are limits on the amount anyone can buy. Moreover, as one official points out, sales of the bonds raise money for the treasury without adding to the over-all money supply-money normally comes out of savings accounts or payroll deductions. When the government sells new market bonds to the banking system, including the Bank of Canada, the transaction tends to increase the money supply, Canadian Press Staff Writer Prices continued to climb on Canadian stock markets this week, following favorable eco-n o m i c developments in the United States. It was the fourth consecutive week that markets have moved higher. The Toronto Stock Exchange's industrial index, a key indicator of market movement, was up 1.04 points to 177.55. On Wall Street the Dow Jones average of blue-chip industrial issues was up 8.69 points to 845.70. Activity was brisk at the Bond prices Supplied by Doherty Roadhouse and McCualg Bros. OOVfRNMINT W CANADA IONDI OOVHNMINT OP CANADA UAtANTHD IONDI Cm. Nat. Me* 1, 1. 1, 1, 1, New York and American exchanges throughout most of the week. At the Montreal and Canadian exchanges, the composite index gained .98 to 175.41. Markets moved upward early in the week, say analysts, on news that the U.S. government had broadened allowances for depreciation write-offs on business equipment. Analysts say the move will provide a major tax break for U.S. businessmen. The other bullish development, say observers, came at the end of the week. Several U.S. banks, led by the First National City Bank, announced reductions in their prime rate. Prime rate is the interest charged on loans to a bank's best customers. This is the second round of prime-rate reductions in as many weeks. 4>A% 5%% % 4%% Perp, 6%% m% 5'/4% Apr. Sept. Oct. Jly. Sept. 3% Sept. Apr. 1, Jul. 1, Sep. 1, "71 100.00 100.25 72 98.80 99.10 '75 99.50 100.50 78 107.75 108.75 '83 84.00 85.00 15 42.50 44.50 '75 108.25 103.75 '75 106.25 106.75 '92 87.50 88.50 mOVINCIAl Ontario 7 % Ont Hyd 9 % Alberta 8%% Man Hyd 9 % Sask 7V*% Nfld 9%% AGT 8 % Man Tel 8 % '88 96.00 '94 110.00 '90 112.00 '90 107.75 '88 91.75 90 104.75 74 103.00 74 103.00 INDUtTRIAl Abitibi 7V�% '87 84.75 87.25 Abitibi 9%% '90 103.75 106.25 Alta Gas 9%% '90 107.00 109.00 B. C. Tel 9%% '90 105.75 108.25 Bell Cdn 9 % '89 106.75 109.25 CP. Sec 9%% '90 102.75 105.25 CP. Rail 8%% '89 102.75 106.25 Gulf Cdn 8%% '89 103.75 106.25 Hud B A 9%% '89 104.75 107.25 Imp Oil 8%% '89 103.75 Int Nick 9V*% '90 107.75 110.25 Indust Ac 9Vi% '92 104.75 107.25 Labatt Wi% '90 105.75 108.25 Massey F 9%% '80 101.75 103.25 Noranda 9V�% '90 106.75 109.25 Markets pushed higher last Week on news of reductions by both U.S. and Canadian banks. In addition, several Canadian financial institutions last week reduced interest rates on conventional residential mortgages and National Housing Act mortgages. Trading was moderate to heavy at exchanges throughout the week. The Toronto market posted its heaviest trading day Wednesday in more than six weeks. Volume at Toronto was 13.54 million shares, up from 10.81 million last week. On Index at' Toronto, base metals were up .35 to 93.09 and western oils 1.97 to 199.93. Golds dropped .40 to 168.70. At the Montreal and Canadian exchanges combined volume was 6.96 million shares, compared with 6.04 million last week. Saturday, January 16, 1971 - THI LETHBRIDOt HI RAID - ft Coal line carrier battle near end Business briefs JAPAN SEEN MENACE TORONTO (CP) - The president of the Engineering Institute of Canada said here Japan is a greater menace economically at the moment than it was militarily 30 years ago. W. L. Hutchinson, also president of Fluid Power Ltd. of Toronto, expressed misgivings about the pattern of trade between Canada and Japan in a speech to a Toronto business group. He said Canada exports huge quantities of raw materials to Japan and buys back manufactured goods - products that could be made by Canadian secondary industries.    NO COMPENSATION CALGARY (CP) - Gulf Oil of Canada Ltd. said here it will receive no compensation for giving up oil and gas permits in the Strait of Georgia. The company said in a prepared statement that it appreciated the ecological damage that could result from explore- North C 9V4% Roynat 9Vfe% '91 103.75 106.25 '78 104.75 Simpsons 9%% '89 103.25 Sears A 9%% '90 104.75 107.25 Traders 9%% Tr Cdn P 10% '90 100.75 103.25 '90 106.25 108.75 CONVIRTIIlll Acklands 7%% "88 80.50 86.75 Alta G Tr 7%% '90 120.00 125.00 Cons Gas 5%% '89 92.75 97.25 Dynasty 7 % '87 64.75 75.25 Scur Rain 7y*% *88 90.75 96.25 Tr Cdn P 5 % '89 91.75 96.25 W C Tr C 5Vt% '88 107.25 110.10 W C Tr E 5%% *84 107.25 110.10 An excellent investment last November AN EVEN BETTER INVESTMENT TODAY! 1970-1971 CANADA SAVINGS BONDS The recent decreases in yields from many Government of Canada Bonds makes the current issue of Canada Savings Bonds an outstanding investment opportunity for Canadians^ September 18,1970 Price Yield January 7,1971 Price Yield CANADA SAVINGS BONDS 1970-71 6s/4-7%-8% November 1,1981 100.00 100.00 plus accrued interest* GOVERNMENT OF CANADA BONDS 4*4% September 1,1983 73.63 84.88 ^6.25%) \  Accrued Interest on purchases before January 31, 1971 would be added. ($1.94 per $100.00). Canada Savings Bonds are cashable at any time at full face value plus accrued interest. We recommend that Canada Savings Bonds 1970-1971 be purchased while they are still available. Richardson Securities of Canada Affiliate op JAMES RICHARDSON & SONS, LIMITED E8TABUSHED1A57 709 4th Avenue South - 327-5757 TO: RICHARDSON SECURITIES OF CANADA Please contact me to discuss CANADA SAVINGS BONDS 1970-71 tton activities and approached the federal government to negotiate relinquishment of the permits. Energy Minister J. J. Greene announced in Ottawa recently the relinquishment of all Canadian oil and gas permits in the Strait following several months of negotiation between Gulf, Canadian Pacific Oil and Gas Ltd. and the department of energy, mines and resources.    FEED MILL PLANNED WINNIPEG (CP) - Ogilvie Flour Mills Co. Ltd. will con struct a $700,000 feed mill at Otterbum, Man., and a $140,000 hog breeder farm at an undetermined southern Manitoba location. RETAIL SALES DROP SASKATOON (CP) - Retail sales in Saskatchewan during 1970 dropped 10 per cent com' pared with the previous year, the Retail Merchants Association said today. OTTAWA (CP) - The application of Kootenay and Elk Railway Co. to become British Columbia's second coal carrier threatened Friday to erupt into a constitutional issue. E. E. Saunders, counsel for Canadian Pacific Railway Co., charged that Kootenay and Elk is not a properly incorporated company because the B.C. government has no legal jurisdiction over the railway. Under the British North America Act, the provinces have jurisdiction over local railways only. If Kootenay and Elk.has no legal standing, as CP Rail now insists, then it would have no right to apply to build a railway to carry coal, and the application would have to be disallowed. The charge came near the opening of Mr. Saunders' summation of CP Rail's case on the last scheduled day of the hearing, now in its 13th day before the Canadian transport commission's railway transport committee. CP Rail, now the only carrier of coal from the Kootenay-re-gion coal fields opposes the application of Kootenay and Elk Railway Co. to build a rail way from the coal fields to the U.S. border. At the border, the railway would connect with Burlington Northern a giant U.S. company, It's that connection upon which Mr. Saunders based his allegations. CITES PRECEDENTS Citing a battery of legal precedents, he attempted to show that because the Kootenay and Elk line would join an American line, the federal, not the provincial government, has jurisdiction. He also cited evidence admitted earlier in the hearing that without Burlington Northern' part in the scheme, the Kootenay and Elk line "could be built, but it would serve no purpose." The fact that Burlington Northern Is necessary to the success of the Kootenay and Elk plan "is almost proof in itself that Kooetnay and Elk is not a local undertaking," he said. Burlington Northern would transport metallurgical coal across the northwestern U.S. and back Into B.C. for delivery to Roberts Bank and shipment to Japanese industries. If Kootenay and Elk is not a local, but "in pith and substance" an undertaking extending beyond B.C., then the federal government has exclusive jurisdiction, Mr. Saunders said. "It follows that if the federal government has exclusive rights, then B.C. has no rights." OPPOSES SPLIT Mr. Saunders buttressed his case by citing other legal precedents which he said have established that dual ownership of a transport system doesn't mean the system can be divided into two distinct parts. The Kootenay and Elk-Burlington Northern plan can be likened to a radio transmitter and receiver, he said. Neither can be used without the other, It is the transport committee's responsibility to decide whether Kootenay and Elk's un dertaking is local, Mr. Saunders said. Pierre Taschereau, committee chairman, said the committee would consider whether to admit Mr, Saunders' testimony, AGT future in doubt - Notley EDMONTON (CP) - While there is no definite evidence the province intends to sell Alberta Government Telephones to a private concern, the publie should be concerned about such a possibility, Alberta New Democratic Party leader Grant Notley says. Mr. Notley said recent "strange behaviour" by the province in its dispute with Edmonton Telephones has rained "interesting questions" about AGT's future. Mr. Notley said the publie Is entitled to a clear statement from both the Social Credit government and the Progressiva Conservative opposition on the continued public ownership of the AGT system. TALKS BREAK DOWN "To be fair, there is no evidence such a sale is being considered but we must remember prospects for sale are not great until the city system is incorporated into the provincial system." Negotiations between the city and the province have broken down in a dispute involving the city's contention it should be allowed to provide telephone service to areas newly annexed by the city. The province has said It will introduce legislation during the next session of the legislature to set firm service boundaries for the municipal and provincial systems. ATTENTION Western Savings and Loan Clients For Information Regarding Your Holdings Contact Eithor of tho Following In Lethbridgt EARl WAONESS - Phone 328-1307 MURRAY LESLIE - Phone 327-0818 - OR - INVESTORS SYNDICATE LTD. Calgary Watt Branch 1011A 17th Ave. S.W. CALGARY - Phone 244-9377 CrOSSWOrd - by Herb L. Rlsteen 1 Distinctive garbs. 7 Gridiron thrill. 11 Merganser duck. 18 Tap. 21 Italian region. 22 Palliate. 24 Handioms hat. 25 Appraisers. 26 Done part by part. 27 Trout cateher. 28 Statute. 29 Letter. 31 Surfeits. 32 Comedian Alan. 34 High nott. 35 Boutlqus. 37 Pacific Island. 39 Clothing atyle. 40 Dance. 42 Was aware of. 43 Title. 45 Ranch hand, MISCELLANY ACROSS 82 Bony fish. 83 Not kindly. 85 State capital. 86 Farm animal*. 87 Magle charm. ?0 Type of painting. 91 French composer. 92 Electrical B unit. 93 Lofty land. 94 One going before. 96 Blew hit top. 97 Title. 98 English county. 99 TV's "- Street" 100 Rejects. 102 Inconsiderable. 104 Salty relish. 105 Italian city. 107 "Bus Stop" playwright 108 Polite. 110 Shoe parts. 113 Slow: mus. 115 Desist 47 Metallic sound. 48 Gaucho gear. 49 Stolen. 51 Stylish. 52 Time period. 54 Held session. 57 Texas river. 58 Pieces. 60 State -� 64 Auden's forte. 66 Swamp. 67 Map. 68 Giving forth. 70 Pep up. 72 Memorial pile. i 73 Meadow. 74 Great general. 75 Noted physicist 76 Circus hanger-on. 77 Cubic measure. 78 Buckle. 79 Make lace. 80 Publie protests. 116 More tractable. 120 Equine gait. 121 Dred Scott case justice. 122 Jewelry item. 123 Bitter vetch. 125 Maltorcan beverage. 126 Kobe coin. 127 Biblical brother. 128 Zoo attraction. 130 Seize. 132 Author Wallace. 133 Acid salt. 135 Made an appraisal. 139 Western Indian. 141 Game bird. 142 European republic. 143 Kind of catapult. 144 Lawmaking group. 145 Table d'-� 146 Caledonian. 147 Vehicles. DOWI* 1 Incommode. 2 Redman. 3 Fastener. 4-of Man. 8 Fatigue. 8 Impertinent: eolloq. 7 Ginger. � Imaginary line. 9 Cooked. 10 Quarter. 11 Totals. 12 -West 13 Greek letter. 14 Sky. 15 Directly. 16 Throb. 17 Verb ending. 18 lllnols city. Diagramless 19 Spanish or SO Allude. 69 Heavenly cheese -. 81 Famous body. 20 Pacific atoll. Frenchman. 71 Ex-fighter: 23 Exigency. 63 Roman abbr. 30 Crusaders' magistrate. 72 Body part foe. " 64 Small 73 Equine. 33 Very black barracuda. 76 Emissaries. 36 Beverage. 55 Excellent ft Famoua 38 Metal pin. 56 Informers. fiddle, for 10 City in 68 Refrigerate short. Michigan. 59 Drains. 78 Cloth design. 11 Need. 61 Historic 80 Seep. 42 Medieval stream. 81 Weeds. aotdiers. 62 Uniform. 82 Coagulate. 44 Tear. 63 Swamp 83 Cleaning 46- Moines. growth. tools. 47 Dairy 65 City In 84 Where Sllgo equipment Italy. Is. 48 Work 67 "The - 85 -his time. . Incentive. Mutiny." 87 Strong point NAME... ADDRESS. 17 x 17, by Frances G. Brown ACROSS 1 Little white 23 Dealer. lie. 4 Insignia. 10 Bath powder. 14 Stratagem. 15 Kansas city. 16 Toward shelter. 17 Indoor path. 18 Rapid. 19 Reddish horse. 20 Pilot*. 22 Youth. 24 Cushion. 25 Watch unbidden. 27 Unknown quantity. 29 Deer male*. ' 31 Restricting. 35 Lessening. 38 Scrambled. 39 And not 40 Beer. 41 Poe'e talking bird. 42 Compete. 43 Old car: si. 44 Detests. 45 Non-poetic writing. 47 Meal remnant. 48 Baker's goodies. 49 "The Old - Bucket". 60 Low neekllne. 61 Travelled so. 52 Force down. 54 Subjugated. 66 Less suitable. 87 Article. 68 Circlet 59- and order. 62 Smoothing tool. 65 Gear tooth. 66 Briny. 69 Metallic cloth. 70 Even If. 73 Italian poet 74 In excess. 75 Heated argument 76 Heroic pilot*. 77 Pots and - 78 High regard. 79 Checker pieces. 88 Chinese: comb. form. 89 Abhor. 91 - Heights (Battle of Saratoga). 92 City In N. Dakota. 93 Big bird. DOWN .1 Welded together. 2- of Capri. 3 Lager. 4 Snaky letter. 6 Sugar trees. 6 Exposed and barren. 7 Fibbed. 8 Terminate. 9 Month. 10 Objective. 11 Fragrant tree 12 Not fat. 13 Copper coin. 14 Miss Hayworth. 95 Rol of 10th century. ' 96 Sawed-off. 97 Intelligence 101 Languish. 102 Shell game, accessory. 103 Conjunction. 106 wingiik* 17 Snake. 21 Team of horses. 23 Among. 26 Omelet in* gredlent 27 Boxcars In dice. 28 Foreboding. 29 Let It stand. 108 Of biology. 109 Splash against 110 Divests. 111 Symbol of '70 World Champions, 112 Celebrated city. SO Wheel covering. 31 Resides. 32 Conjure. 33 Sounds. 34 Golf -% 35 Nook. 36 Desolate. 37 Shooting marbles. 114 Entangle. 115 Smoker's Item*. 117 Grape. 118 Athletic team. lit Shell occupants. 121 "Over - 38 Paired. 41 Gathered leaves. 44 Seraglio. 45 "The Moms end-." 46 Uncommon. 48 Early dwelling. 61 Kismet 122 Variety of Egyptian cotton. 124 Greek island. 127 Printing direction. 128- clocks. 129 Western city. 52- Juan. 53 Work units. 55 Steamships. 56 Shimmy. 58 Excite. 09 Flax product SO Picnic invaders. 61 Tiny. 62 Dull thud. 131 Study strenuous!* 134 Hollywood name. 136 - Paul*. 137 Powerful stuff. 138 Dowry. 140 PosssssseV 63 Voicano tie* 64 So be Itl 65 Purchase price. 67 Furniture style. 68 Lingerie trim. 70 Article. 71 Possssst*. 72 Shorten skirt. ^SOLUTIONS OF LAST WHOPS TUBUS uiiuu ivuii sag BBHB EEGE Egg nr-NiinramciniB ode BUB UUUC1U aana hhh liinn rararara Finim rararara beu mranra rang rmrB nrinra mnn ?HQ HtJUli onnnni hob wail idiiuiuuuubiu acici iiiiiiu uuuu roan dgh uuuu uuuu ranHRrramQHBE beee BJJEUt nmnrart mramranra raroian nnrnp nnSramnnnnG bebegdeeee cinnn tanmraH ^EE bee KF16 uiiuuwh tJUtlUK (JUKI UKWKMIi nnnranian lamnnrciaE rnr.risrai riran Kniira eoeoij beko turn ?ata ?auaci bbdb ddbob tiiaiiinrai!i rarananRRinr] nmnniain aanaa aaaa nnHRg nnu__ nnan arania hqr nana ehiid nniii ration ?nnnn nrnnn mm ranraninnn nnrararang BnraiaranE Finn Qncuao bbbce eku m*aa aaa ana mniamH uuuu nrara rnmm nRtinn nnjgnjn nun nranriiraiaiarnnin rannnngHnngnnn raiannnra nmnn gnnnnn ngnnn untanra anno BEinBOE bddpb CRYPTOGRAMS 1. XOBPTZD JOSEPHS LZEl'SDK LZPZPC Z J TEBQS EH DEEP TUB QUAP COEDR APCEXEHP. - By Joseph Veraer *te*4' 2. LOVERPUAVP HERO: HAIC LERYP LIDD, VARY AR BVOEQ EBH QUAGD AB QPGEDPU. - ByLolalraM Last Week's Cryptograms' 1. Palindrome advises telethon help: Avid ptrly democrats must say* rest etui �tsr comedy, trap diva. t. Sultaa unally segregates lovely slave girla In seraglio.  Field Enterprise*, Inc., 1971 ;