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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 20, 1973, Lethbridge, Alberta Saturday, January 20, 1973 IHE LETHBRIDGE HERALD 23 Markets dip as investors collect their profits By MIKE WILLIAMS Canadian Press Staff Wr'lrr It was not an unexpected lum of events this week as prices on major Canadian slock markets struggled to hold (heir own amid profit-taking. Mo5t prices closed unchanged to slightly lower in aclive trading. The lack ol drive followed a week of sharp gains, particu- larly in the western oil and base metal sectors, follov.-ing worsening oi an oil and natural gas shortage ii, the Uniied States and increased copper prices. The inflated prices led many investors to take their profits. In Monday's session alone. To- runto's indListrial index suffered its worst setback in almost three months, closing at 227.35, down 1.23. The story was much the same on ttie York market bui analysts gave other reasons for the .poor performance. Most said investors were un- certain about the country's eco- nomic position following Presi- i dent Nixon's announcement thai most wage and price restric- tions would be lifted PATTERN UNIFORM Aside from a few minor ral- ;lies. prices on Canadian ex- c'nanyes followed the same pat- tern for the remainder of the week. At Toronto, the industrial in- 'dex. considered a major in- dicator of market trends, was 1.22 on the week to 227.36 On the Montreal and Cana- 'dian exchanges, the composite index fell 2.W during [be week to 23S.21. Combined volume on the two markets wss S.13 million shares compared with 9.17 million a week earlier. At New York, the Dow Jones industrial average of 30 key stocks closed at 1.026.IS. down i: 18 points on the week. Dealers, however, appear confident the dpclice will be short-lived. Wood Gunc'y. a Toronto in- vestment firm. "Both the U.S. and Canadian economies are in a strong expansionary phase, with much to encourage the North American business- man." r.lCTOKS ENCOURAGING all, profits are ad- vancing strongly under the im- pact of increased volume and improved productivity.1' Vietnam peace negotiations, which have manafed to play havoc with stock markets on both sides of the border, appear !p be coming closer to a settle- ment. Most analysts regard this 25 an encouraging factor. At Toronto, base melai issues lost many gfiiss made during Ihe previous week ar.d the group's index fell .99 to 97.63. i Western oils managed modest gains with the index rising .36 on the week to 286.21 despite the drop of .79 points Friday. Gold issues managed strong gams compared to other sectors on the Toronto market. The in- dex closed at 203.35, up 4.17 OD the week. rationalization less pressing in Alberta' Bond prices Supplied by Doherty McCuaig Limited CP Sec GOVERNMENT OF CANADA BONDS j Qtjn Mpt, 1, '72 Matured J 9V' Oct. 1. '75 100.00 100.50 Oil July 1. '73 106.50 107.50'Ij'er P P Sept. 1, '83 82.00 83.00 Perp Sept. 15 40.00 42.00 j-sc April 1, 75 102.00 103.001 H" -M JuJy 3, '73 203.50 By H1C SWIHAHT Today there are deiiv- Ilerald Staff Writer err points in Western Canada. REGKA The Peace River Of these, 735 are served by a district in particular and Al- j single grain company, berta in general will be affect-1 Throughout the vast area IBell Tel 'S3 109.60 111.00 ed 'ess by grain elevator ra- by all Ihese small ele- CP Ltd '89 104.00 106.00 tionalizalion than the rest of valors. 50 per cent of the rail- "JO 105.00 107.00 the Prairies, according to Bill, vray lines can't handle Lie '91 103.00 110.001 Nieman oi Neunaa Consulting heavy loads being hauled 10 '90 109.00 111.00 i of Winnipeg, the ezpori positions. Because these areas are rel- This is one of the chief rea- 'PO 104.00 106.00 f-S''. '90 107.00 109.00 'V' '80 105.00 10700 Sept. PROVINCIAL GOVERNMENT OF CANADA GUARANTEED BONDS P jTtOdnP 10 atively new. they have more sons for railway and elevator modern and large facilities than rationalization. '90 1H5.00 108.001 the rest of the Prairies, he said. Through rationalization. 'SO 107.00 109.00; The elevators are 30 to 50 years country elevators would be cen- '91 107.00 109.00; newer and much larger than t-alijed in strategic '90 106.00 109.00 I the ones in Manitoba and there- enlarged and served by heavy '60110.03112.00 fore are more efficient. duty railwav lines This 'EO 111.00 113.001 Speaking to 100 delegates to aitaw large" unit trains to be CONVERTIBLES Runciman advocates farm price protection plan Alberta Ontario :0nt Hyd 9 Br 9 XCd 8 X S. 6 Quebec 7 Alberta 8 Man Hyd S 1 Saslt 8: Nfld ACT i the 3rd annual Palliser ffbea; u-sd. '90 105.00 107.00 A1U G T '90 174.00 179.00 Growers' Association meeiiiJE, Mr. Neiman said a facrj: 7 '88 93.00 95.00 i Cons Gas '89 90.00 92.00! he said that in 1925 there were r.lJch makes Southern Alberta '94 108.00 110.00 i Dynasiy 7 '82 100.00 elevators iit Manitoba and unique to the rest of the grain 109 00 Hi 00' Actlands '38105.00103.00 only 34 in Aiberta. 'crowing regions is thai there _ KM '83 85.00 90.00 '91 107.00 10S.OO '74 100.00 102.00 Scur Rain 7Li' '92 S4.00 85.00! VTC Tr C 54' :A 99.00 101.00 '90 106.00 103.00 '91 103.M J02.W '90 106.00 103.00 9V; '90 108.00 110.00 j WINNIPEG (CP) Gold fu- 8 '74 100.00 102.00. tures, U.S. funds per ounce. Man Tel 8 '74 100.00 102.00, Winnipeg Commodity Exchange INDUSTRIALS Fridsy. Alta G T '90 107.00 109.03! Jan" 73 64.60B: Apr 73 Alcan '91 106.00 109.00 65.30B; Jly 73 66.33: Oct 73 .B.C. For '92109.00111.00 I B.C. Tel !Bell Tel '90 305.00 108.00 67.35B; Jan 74 68.40B. '79 106.00 108.00 j tracts. Thursday's volume: 14 con- By RIC Herald Slaff Writer REGKA A price protec- tion program for agricultural products has been advocated by A. M. Runciman became ''fanners deserve the same protection the rest of have been gluing .Mr. Rtinciraan. president of Vnited Grain Growers. a compensatory price de- signed by Dr. Clay Gibson of the University of Manitoba which calls for a better price for farrn products. The idea behind tie system is to use the price system as a to allocate farm re- sources to make the best use of capital and management. The mam principals of the pinn include: The nrice support to fanners is because food con- sumers get the benefits of in- creased efficiency in agricul- [ture. i Tnc price system should be left reasonably free so farm re sources can best be used Carstuan farm policy should be highly sensitive to the chang- i ing of the ir.terna- market. Tnere should be a minimum of coverrjner.t control involved. Tne limit of pubh'c support for such a pricing protection program should be clearly Mr. Runciman said support pu'.d have to be estab- VINCENI HARTY Cowora. Sold of Cc-cc'a ii piecsed ID G--.C-J-CS Vncer: Hcrly W.-CS in c recffr.t Ccncda Trjl! Three Frai- Seles Ccntest by fi-isHing in piece laici.y leccnd piece rhe reg Rer-iembe-. ycu ccn Seo' Es'cle c-d CL" ss 65 y end c' eH Ccncda Trus! c-fices CALL A CANADA TRUST REALTOR PHONE 327-8581 H. H. Smith Ltd. Customs Broker coSnj LOCAL FIRM REQUIRES AN EXPERIENCED DRAFTSMAN With Estimating Ability Please send complete resume to P.O. Box 1202, Lethbridge AU PERSONS INTERESTED IN THE PRODUCTION OF CORN FOR SILAGE OR GRAIN are WELCOME to attend seminars: Commencing at a.m. On Jan. 24 at MEDICINE HAT, Prov. Bldg. On Jan. 25 at BOW ISLAND, Elks Hall On Jan. 26 at TABER, Civic Centre COME and HEAR oil about: A1BERTA CORN DEVELOPMENT PROGRAM GRAIN CORN MARKETS i. RETURNS FROM PRODUCTION PRODUCTION TECHNIQUES SEED SIZES, PUNTER PLATES. PLANTER ADJUSTMENT JOHN STEWART, Alex M. Sleworl ond Soni t'd. Seed Cc. in Ontario, be in attendance to ta'fc about oil ojrects cf corn end occciolly cbout planting. seminar be by preientrlioni by recretf ntc'ives cf and by Prof. Georga Jones from Ontario, Machinery, seed, ho'bicide dealers ond custom oppr- olors will have displays. The 2o1h will end >silh fl banquet and doncp. ALBERTA CORN COMMITTEE lisbed for aH major agricultur- a] products in Canada for the price policy to He said there have to be a marketing certificate is- sued for each commodity pro- duced which would apply to 75 per cent of the averase A the farmer's salas for the past Irree All products v.-c'jjd he sold on the opOT market but the farmer Tvould also receive a price payment the differ- ence hesrween the support price ar.d the open market ir. any pven year for faies up to the or' the certificate for commodity. Any fales over the value of the certificEte would be sold at the open market price which be lower than the sub- sidy payment during good crop years. No subsidy would be paid if the regular price for i the commodity was above tfie certificate value. Mr. Ricciman said the SS per bushel payment for domes- iir-iJly used groin for human consumption is z type oi com- pensatory price structure. He said this program pours SciO million into the grain eco- noray and is a straight subsidy. He said what he likes about the proposal is that it gives the iadindual farmer an incentive to produce efficiently as well as encouraeing the promotion and expansion of export sales. He said small amounts of federal guremmefii will be needed in pood years and the consumer food prices will i.o; be One of the real benefits of the proposal Is that farmers have a minimum support price for their products that they could plan on. This would assist them in their planning programs for future crop years. Preferred Finance Corporation Ltd. M160, Calqarv Place, 345 4lh Ave. S.W Calgary Shcrt-Tern ''Bridge" financing ovailcble, ond ever. Expedient lervice. Phone MRS. R. THOM 316-7781 the RIVIERA MOTOR HOTEL Welcomes you to Edmonton To help make your stay more would like ro introduce you to all our facilities. MORE PEOPLE STAY AT THE RIVIERA- BECAUSE THE RIVIERA OFFERS YOU MOREI Write or Telephone IVIERA MOTOR HOTEL 53S9 CALGARY TRAIL 43-43-40-1 u-s JOHN DEERE INDUSTRIAL Are you planning for the future? the building cf our new facilities in 1973 Ir.crensing demand being rrcde en we IMMEDIATELY qualified who ere ii growing with L1! ond Irfir objertivei. Tcp rdei benefirj f-r ihs rigL! people. interviswi in be crrongec. Wrife fmrnfraiorcfy to KEN BROWN, e 'o COAST TPACTOR 4 EQUIPMENT. 1211 GREAT NORTHERN WAY, VANCOUVER, 5.C. er PHONE 873-1651 Eveninei phone 561-3416. BUYING MONDAY p.m. SPECIAL Feeder Hog and Baby Calf Sales OR SELLING Wednesday a.m. FAT and FEEDER CATTLE SALES SLAUGHTER HOGS ASSEMBIEB AND SOLD MONDAY THR FRIDAY WE BUY ond SELL FAT nnd FEEDER LAMBS DAILY j is a larger area of land which is no: suitable for grain pro- duclion. This means less grain "J move through the transporta- tion system. He farmers have also divc-rsh'ied to other crops, tak- ir.g a large portion oi the ara- ble land out of grain production. ''This makes elevator ratioo- 2bz5lion Jess pressing for Southern Alberta." he said. He said diversification In So.ithe.-a Albena was brought aucv. by large irrigation sys- ttns and a climate Editable to the specialty crops. Mr. Neman said the major- ity of the rail lines to be aban- doned after 1975 are ones which were built too close together, mekag them uneconomical to CALL FRENCH FRIDAY o.m. p.m. SPECIAL STOCK CALF AND FEEDERS FAT and FEEDER Cattle Sales EXPORTERS OF SLAUGHTER HOGS EXCELLENT FACILITIES FOP. FEEDING AND LOADING HOGS. ED FRENCH DAN KLAS5EN KEN MILLER, MAGPATH LOU DEJAGER WHIT HENINGER 328-3986 345-435S 758-6607 345-4489 CONSIGN AIL YOUR LIVESTOCK TOr C. E. FRENCH LIVESTOCK ;'h The Heart cf Pcr.ching Country" Ph: OFfice 327-010] _ 327-35B4 Alberto Stockyordl P.O. BOX S.S.I-7-7, LETHBRIDGE, ALBERTA Br Jtnnit Lfmma "MISCELLANY" 20 tieterrier 21 "Sv.fe: -.-ib-jte 27 Surf en ths sound 2B Head: Fr. 30 Italian river 31 Italian 32 dollars: 33 GOT Sixpence" 3i Progs.-itor 35 MemoraWa CanDn movie 36 Melody 5 Coloring 6 Regioiej 7 MsmonKa Lansb-j-y rcia S 9 10 Kind of hammer IS X IS. by Betty I.pary ACROSS 1 ThVTrs, for 23 narr.z: ons 5 Sugary 24 Risque 10 Feminine 25 Foundling name 27 11 do 23 Indian 14 Dessert 17 Use booVs 19 Plan; par; 20 Elicit 21 Twcsems 22 Slop S3 -1 ij Esccr; t; V.'oeii' 47 for N 31 35 Mire-sl sources 36 Ch'Jren psn: C F. Y P T 0 G r. A 5 TM01. VN T A I. r S HIV BVY M I 1. T M P. G IF.T GRETA TM.Tf. By V. Mci ,-r. r i' i' x r H G r 111 G x en c i r, Q n G Q Q t. r r i r H n 1C, 10 F1V NG CLOG. -Bj Hor.rj Grlnsn 3 F. r s s r r R r 7 N r i R r i r c n r z M E e c z M YFTIRV. j. ri.o VINO WINECVP i.o cvrcsox. no VINO WIN EC IT I.O ROW IV OX. -PvA.V.M.-U W I. C X I. T R C: 7 G I. F. V V. V 7. X 1 P C. F i -PJ-HG. f, 7 N i 7 P E P q R v n r 71 N 7x1 7 o Q n r n Q 7. R v n v -PyM.II Wcv'Vf 1 Ric man lurk f.l nc-t irnrk but loc dc.Oiri: The blon-s nC a fnst.rBlc, het off bnld CNbcrnelJc-s, ptrotionlnlfipr, poologr timpi> F.miholjL foirs follpiT yfllov- otrn. CoTinndnim: CATI one imn darf flmniT Tip: SrmpRLhj, unpiLhj path 9V 1972 bvChlcJiraTribune'N.Y. NewsSjnd. Inc. World Riohts Reserved FOR JAMTARY ;