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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 29, 1975, Lethbridge, Alberta -r- Til f rfn January 29, 1975 THE LETHBRIDGE HERALD 27 wants common-user i menus move on payments system lilt IKltlUl x ItlOuCr Utt? UtOfJ Oil I Business Stock prices ga v y (rp) To- index was off 62 to 179 ronto stock market pulled base metals .59 to 64.30 J29 Cominco to TORONTO (CP) The fed- pressed concern that Ottawa system that evolves will be or-Home Oil A to eral government has no in- was intent on establishing a derly, efficient and protect MacMillan Bloedel to tention of imposing an elec- national systems network to the rights of individuals, and Baton Broadcasting 'A to Ironic payments system on counter in-house computer In a policy paper released Canadians "whether they facilities already being two weeks ago, Ottawa an-BM-RT Reauty rose Vz to want or not'" a federal developed by many financial nounced it would take the lead Shell Canada to finance department institutions. in establishing a national Woodward A to spokesman said today. In a speech to the 'em and proposed a com-and Bell Canada to However, Carl conference Monday, John mittee to work towards that Rio Algom lost to Wostenholme told a national Crean of the Bank of Nova end- Tne payments system is Northgate 15 cents to conference that Ottawa Scotia said that Ottawa the term generally used to and Gibraltar 10 cents to believes a common-user com- appeared to be ready to use describe the flow of Camflo gained to munications approach for the coercion to force a common cheques, credit cards country's so-called payments system on the country and re- and between indi-Pan Ocean dropped Vi to system would contribute to ef- strain competition. viduals and corporations. and United Canso to ficiency, adaptability to new Mr. Wostenholme, acting di- Reaffirming the j7V2 technology, and a com- rector of the capital markets government's intention to petitive environment. division of the finance depart- work towards a common Delegates to the two-day ment, said Ottawa's only role system, Hirsh Tadman, chief t trends conference on the payments was to act as a catalyst and of financial institutions in Mr. system, that ends today, ex- coordinator to ensure that any Wostenholme's division, said VANCOUVER (CP) Prices were that the work of the COm-up in moderate trading on the Van- mittee to implement a couver Stock Exchange today. Early national system "must move O Q K 1 ahead quite quickly because of at .90. In the mines, Crandora was Bfl I 1 K 1 1 1 vV the rapid pace at which tech-down one-half at .39'A. tn the oils, M. mlogy js cnangmg and the Davenport was down .04 at .70 iong plannjng horizons re-Curb volume was 6 000 shares. j i( x-Pctrowcst was down .01 at .41. 1 1ulred for the organizations I _ _. M. involved in automating their Prices were up Tuesday in light 1 fl 1 0T nnpratinns trading. Closing volume L U M. M. M.M. Iffi Operations. snarcs He said the government In the industrials, Newmark was un- realizes all organizations can-dianged at si.39; Daon unchanged at TORONTO (CP) Cana- chartered banks of reductions not move to a common user 58; Bank of British Columbia rights up imperial Bank of of three-quarters of a point in svstem overnight Commerce today announced a their prime rates to 9% per "Nevertheless, thegovern-p.25 and lu International up at reduction in its prime lending cent, also effective Feb. 1. ment must be satisfied that rate of one percentage point to R. Donald Fullerton, execu- tne implementation com-in the mines Cypress was up .02 at 9y2 cent tne lowest in live .vice-president of the mittee's work progresses at .79; Grandora down .03 at .40; Barrier Canadian Imnorial Rant (Jiugicaara Reef up .10 at Leisure up .04 at .17; Canada. Canadian Imperial Bank, an adequate pace." Cutlass down .oi at .40; Anglo Bomarc The new rate is effective onori-term interest ue did not gjve a date as to up ,03 at .93. Feb j rates have fallen rapidly in re- when he hoped a common user The move follows announce- weeks and therefore a system may be in place, ments by several other major full one-per-cent decline m the cept that it raust be done .92; Coseka up .15 at S2.55 and Daven- minimum lending rate was. "within a reasonable period of port up .04 at .71. fally justified by current time" Curb volume was shares. market conditions." New Montreal was the changed at .36; Consolidated Monarch ITSt tO announce 3 prime rate down 01 at .36; Mark V up .05 at make (leOUt reduction to 9% per cent. Hollar and Manox down .01 at .12. Royal Bank, Bank of Nova fOlldr, gUlU OAKVILLE (CP) Two Scotia, Mercantile Bank of NEW YORK (AP) The stock new vehicles will be introduc- Canada, Bank of British DriCGS higher ed by Ford of Canada, William Columbia and Provincial P pause for some profit taking. L. Hawkins, vice-president Bank of Canada have announc- ZURICH, Switzerland (AP) The noon Dow Jones average of 30 and general manager, said ed similar moves. The United States dollar industrials was up 2.59 at 697.36 Tuesday. The prime rate is that continued to improve in The 1975 Mercury Bobcat, charged, to a bank's most Zurich today. margin earlier. an economy small car, and the creditworthy customers. The dollar opened at 2.4750 Sony Corp the most active issue on 1975 Econoline Van and Club The latest round of reduc- Swiss francs, up from 2.4525 the NYSE. rose 'A to 16. Wagon were unveiled Monday tions is the second in about at Tuesday's close. It had The NYSE'S composite index rose in London, Ont., at the first of three weeks and follows a fallen Tuesday morning to a .12 to 40.55. a series of dealer meetings to similar trend in the United record low of 2.4065. Great Basins Petroleum, the Amex be held across Canada. First States where several major Gold also opened slightly volume leader, was unchanged at ?4 A. public showjng wjj, Feb g banks cut thejr pHme higher on NYSE, Campbell Red Lake was up v! at the Toronto International rate to 9% per cent. market, at an ounce. It to Alcan M. to and Massey Auto show. Canadian Imperial Bank closed Tuesday at Ferguson w. to sievi. Prices will be announced also announced a cut in its London's five major dealers Hiram Walker dropped 'A to about the time of public base loan rate to small fixed the morning trading introduction Feb. 28 for businesses' to m per cent price for gold at 35 international Nickel was unchanged Econoline and March 21 for from 10 per cent, also effec- cents above the closing price Bobcat. live Feb. 1. Tuesday. back moderately in mid- western oils 1.36 to 154.58. _ 1 morning trading Wednesday industrial index had gained A 1 followinB six sessions of sharp more than 12 points during the 1 gains. Trading, though less six-day rally and some hectic than in the two downward correction was an Miscellaneous previous days, was fairly ac- ticipated, analysts said, tivc. The gold index went agains Vancouver, Calgary, Montreal The widely-based industrial the trend, gaining 4.19 to Midland Doherty Limited 3''8-75-Volume by 11 a.m. was 726, WESTERN OILS Pe-Ben Oillield Serv 3.80 ti, _i nc AND MINES Royal Trust 22.75 W drain 000 shares, down from the 1.26 Alton Mines 3.25 Sandwell 5.50 miujon at the same time AltaaEastl Gas slo WINNIPEG (CP) Activity con- Tuesday, lio 2'rs tod light with low prices through Declines outnumbered ad Asamera 8.75 Westlleld Win 1.37 mid-session Wednesday on the Win- vances 159 to 124 with 152 Ashland Oil 7.75 Woston A Pld 48.50 nipeg Commodity Exchange. vances liM TO wun iw BP Canada 10.50 White Yukon 6.50 Oilseeds were as much as 10 cents a issues unchanged. Bronda Mines 3.15 PIPELINE STOCKS bushel lower, with otiier commodities Cda South 2.30 Alta Gas Trk A 12.25 generally easing fractionally Cdn EX Gas 2.40 Alta Gas Trk Pfd 54.00 Titpwlav'i wilnmp nf trirfp was Vt 'mm 1IS Marke MONTREAL (CP, A recent ad-Chieltan Dev 6.12'A N S C Gas 11.00 There was no trading in com. vance turned around in raid-session on Dome Pete 24.00 N C Gas B Pld 20.75 Mid-session prices: Montreal Stock Exchange Wednes-Dynasty Trans-Cda Pipe Thunder Bay rapeseed- Mav three day as investors began to cash in their .14 Trans-Cda A Pld 57.50 lower 7 ISA July Oct and Nov not Protils-Giant Mascot 59 Trans-Cda B Pld 31.00 tower USA, July, Oct. and Nov. not rjra'nisle 12 K WCTrans Tancouver rapeseed: Jan. three shares compared with 425.700 Monday. Gt Cdn Oil S 6.75 WC Trans War 2.37 lower 7.33A; Mar. lower 7.2414A; Banks led the losers with a 2.73 drop Lochiel Ex 1.25 June 10 lower 7.14B; Sept. three lower to 242.44. Industrials were off 1.19 at Lytton Min 1.18 CALGARY 699A 18311 the U4 at mz; North Cdn Oil 3.45 Acron .J2A Flax: May five lower 8.30B; July papers 0.35 at 106.02 and utilities 0.19 PaTcdn Pete 000 N Continental ioi'A five lower 8.10; Oct. and Nov. not at 136.88. 'an Ocean a'so Western Warner .15 open., Feed wheat: May unchanged Provigo was off at and Pan jetrol VANCOUVER 3.72; July and Oct. not open. Corn: Ocean Oil lost to while Cana-Paloma .65 MINES Mar., Mav and July not open. Barley: dian Javelin added 14 to S8. Place Gas .28V4 Bathurst Norsemines 1.15 May one lower 2.87A; July IV4 lower Royal Bank and Bank of Montrea Ponder Am Cima Resources 55 2.82VS; Oct. not open. Oats: May un- each slipped to J2914 and SvrRain 350 DavSort 70 changed 1.89A; July lower I 85B; respectively, ieibens 787V4 Oct. one lower 1.82. Rye: May Vi lower Among speculative issues, Con-ipooner 24 Northair Mines 2.69A; July V'z lower 2.63A; Oct. not solidated Summit Mines was unchang-'otal Pete Primer open. ed at 18 cents on turnover of Ulster Pete '.SO Pyramid .05V4 shares. Jnited Canso 7.50 Silver Standard 1.21 Grain quotes Tuesday basis West Pete 4.05 Valley Copper 5.30 Lakehead: "M'SCELLANEOUS Key industries .oe FIax Chicago markets INDUSTRIALS 1.40 835 827 835 Saine 1800 August Petroleum .16 815 'CHICAGO (API -Farm commodity 3C Sugar C Pfd 1150 Plains Pale .12 Prt 782 futures turned strong on the nation's Block Bros Stampede Int'l Res .60 Nov 760 major exchanges Tuesday. Limit and Foods 2.75 MUTUAL FUNDS Rapeseed Thunder Bay near-limit gains were posted in some Sdn Pac Inv A Pld 29.25 All Cdn. Compound 5.04 May 722 690 718 cases. JS 8SS5S 112 I I S ;omnlc0aoeceoeroB PM 1% Ind Cdn. Investment Fund 5.36 Rapeseed Vancouver Chicago Board of Trade. Both closed :rowsnest Ind 2CL50 Eaton Commonwealth 1 1.85 Jan 737% 715 736 on strong tones. Soybean meal gained "alcon Copper 7 00 Eaton Leverage 2.66 Mar 732% 702 732 about a ton. M Trust Co 4.90 Eaton Int'l Venture 4.87 jun 727 692 724 Wheat futures were uneven but 23-oT' IIS 705 6" TO STCS, EH S3 On' the Chicago Mercantile Ex-Hud Bay Oil 24 00 Growth Equity 5.13 Jly 2M'A change, pork bellies closed at limits lud Bay Oil A Pld 3VOO Investors Growth Fund 10.32 Oct 245'A higher for the fifth straight session in lugh Russell 57.50 Investors Mutual 4.97 Barley some contracts. This represented a Husky Oil 17.00 Mutual Accumulating 5.07 May 290 287% 28S gain of 600 points since last Tuesday lusky Oil B Pfd 32.37'A Nat. Resources 3.52 j, _ _ 28( Lower impraved cash KraJ'wniWa, N w' Ocl 272 accounted for the demand. O.U Live live cattle and shell eggs aiser Res 6 87% Royfund 5.09 May 192 189 also advanced under the demand for aiser Res War Templeton Growth 6.89 Jly 185'A bellies, oblaw Co C Pfd 26.00 United Accumulative 3.80 Oct 183 Grain futures were weak on the flagnasonics 1.95 Universal Savings 7.01 Corn basis Montreal opening, largely on an accumulation of acific Pete 1 8.50 Vanguard 4.18 Mar _ _ 346 seU orders from Monday when tne ma-May 352 jor pits had closed with limit or near Toronto mines., industrials wheat May 372 strong demand plus short covering Jly 363 sent prices sharply higher. (Supplied by Richardson Securities of Canada) Oct 361 World sugar futures which had been strong in recent days, fell the 2 cents a MINES Burns n.12% pound limit under profit taking. Cocoa cme .08 BC Forest 15.00 d _ futurps also stronp nroviniic KUd fj-g Street prices ralorne 1 40 Cable 1275 and cotlon fulures declined some 50 roulan .36 OAE Ind 7 12'A Per hushel street prices Tuesday points, hut orange juice Mures closed ethiehem 7.75 Cal Power 24 00 baas Lethbridge. about steady, ovis 1.24 Canbra Foods 2.75 KLAX 1CW 7.61, 2CW 7.56, 3CW At the close on the Chicago Board of runswick 3.85 Can Cellulose 5.75 6.11; WHEAT 3.W4, 3 Util Trade, soybeans were up 10 to 19 cents aSida Tunn I'll ZM'k' a bushel, March 6.19; wheat was 1'i aSsia? 3' 4'is S Credit RYE -2CW 2.1314, 3CW2.08.A.4CW lower to 4 higher, March 3.89; corn entral Pat 92 OWN Gas Pfd 850 1.83'4, Ergoty 1.7144; OATS- 1 feed was 2'A to 6'A higher, March 3.14; and himo .90 Cdn Ind 1.52'A, 2 feed 1.47'A. oatswerelV4to4'4higher, March 1.59. onwest 2.65 Cdn Marconi HAPESEED 1 Canada 6.65, 2 Grain quotations Tuesday ons. Rambler 1.65 Cdn Vickers 13.50 Canada 6.40, 3 Canada 5.15; BARLEY Wheat- Mar 389- May 38444- Jul -If14 1 feed 2.40, 2 feed 2.36. 3.74'A; Sep 3.83; 'itec 3.93. ?atamont sis CoSinco Kyi Canadian Wheat Board selling prices 3.14; May 3.1714; Jul 3.1714; Sep 3.03; ffison Mines "I Sns ai.hurs, tasisThunderBay-wheat-SUUlity Dec 2.82; Mar 2.88. Oats: Mar 1.59! enison Mines 4350 Cons Gas 1575 4.02'A; oats- 1 feed 1.94, 2 feed 1.91; May Jul 1.50; Sep 1.44; Dec .30 Dist Seagrams barley 1 feed 2.90, 2 feed 2.8814. 1.4814. ome Mines 46.75 Dom Bridge 21.50 iscovery Mines 2.05 Domtar 19.25 ast Malartic 3.30 Dom Textile 7.00 ast Sullivan 1.65 Dom Stores 1737V5 1 iuAttttfUtlr alconbridge 29.00 Dome Pete 23.75 robex .15 Dofasco 24.25 rst Uaritimes .36W Glen Mobile 1.46 iant Y.K. 10.00 Grt Cdn Oil 6.75 LfftttlhHfinA Io lower. Slaughter heifers fully randuc 1.18 Gen Motors 39.00 iwyw steady under good demand. All classes ollinger A 27.50 Qrt Lakes Paper 16.25 of cows meetine very good demand Dl udsonBayMSSA 15.75 Gulf Oil 27.75 (Supplied by Canada and D2 cows steady to strSwUh Vlra Ex. .50 Greyhound 14.25 Department of Agriculture) heiferV kinds unto 22 on Bay 4'8S 5.50 on offer to am. 300 cattle, to sitoheT Bui s steady Quebec 3S BSS SI" ll'll Receipts mostly slaughter cattle. err Addison 11.00 Imperial Oil A 2725 Trade active. Slaughter steers steady Steers: Al and 2 37V1 to 39.80; ey Anacon .23 Imasca A 27.50 heifers Aland 2 -34.50 to 36.20; cows: 28-50 Int Nickel 24.6214 Dl and 2- 1714 to 19H; D3- 16 Shore 3.15 Int Pipe 14.50 D4 1.1 1514 angis Silver .14 Inv Grp A 7.62VJ Unrc ANn I IMHS adsen R.L. .49 iU Int'l 1125 UMBfJ _ J alanic G.F. -1.05 lACLtd 18.9214 MONTREAL (CP) Wednesday's Butcher nogs sold Tuesday at the arlin McNeely Jannock 6.50 mid-day foreign exchange selling rates Yards 53.05 base price, aplntyre 41.50 Kaps 2.20 supplied by the Bank of Montreal: Good lambs 3D to 39. e'a Kel Douglas A 5.25 Hnllar I mnn idrim .11 Laurentide 8 6214 Bermuda dollar 1.0100 tern Mogul 3.00 Loeb 330 China renmmbi .5570 uWest Homes 6.75 Loblaw A 6 12VS Denmark kroner .1840 ew Athona .23 Metropolitan 12.50 France franc .2375 9 ew Calumet .14 Massey Ferg 16.25 Germany mark .4375 Rcwintc tn 11 SrCle 3HI KSJl'S? till'" te MSrsc.ensCAP public stockyards totalled about 1.180 ne Point 27.92VS Molsons B 1600 Mexico peso .0805 head, mostly steers and heifers, acer Dev. 14.75 Nachurs Spam peseta .0185 Trade was moderate as slaughter ax Exp. 1.10 North Cent 10.87V4 Sweden kroner .2550 steers lost an uneven 25 cents a head, uebec Man .18 Peyio 3.60 Switzerland franc .4200 Heifers remained steady with varied ayrock .91 Power Corp 9.3714 United States dollar .9995 oualit es onTf to Tows so d steadv oXm 241 JtS funds. SSrs Al, 2 to A3 eep Rock 1.15 Simp Sears 10.75 to 40. Heifers AI, 2 351036.50, A3 jnningdale Steel Can A 27.25 34 to 35. Cows Dl, 2 17 to 19, D3 xmCo7-A "9 GOldfUtUreS SrnCEs W.NN1PEG (CP, Gold futures Very ligh, receipts for feeder ca.Ue. H Copper Mines 1.46 Trans Can Pipe 1050 r Heifers over 550 pounds 27 to 29. right Hargreaves 1.10 Union Carbide els U-S. tads, Winnipeg Commodity Ex- Hogs base 53.10. llroy 1.36 Union Gas Tuesday, ndfall .12 Union Oil aoo 40IWUNCE CONTRACTS llowknife Bear 2.27 United Siscoe 3 80 Jan 75 176.SOB; Apr 75 178.05; nmac .06 Versatile 6.87M Jly 75 182.00A; Oct 75 1SS80I1; OTK99 INDUSTRIALS Wesleel 23.50 Jan 76 days we donY sell any insurance. j we some excellent financial planning programs. We can jjt show you how to minimize taxes through income averaging annuities. We'll show you how the capital gains provision of S54ST1" income tax legislation affects you. We'll show you how to take the right steps to protect your capital. And we can custom-tailor a Registered Retirement Savings Plan to meet your specific objectives. And that's just a part of our financial planning services for individuals. We can also offer a comprehensive Business Planning Service, including employee benefit programs, to the businessman. In short, we do a lot more than Soma Steel Mjl RANKq BOUNCE CONTRACTS: a.m. Wednesday provided hy the coTnd 1500 Canlmperial S 2500 Peb75- 176.00B; MayTS-lSO.OOB; Alberta Hog Producers Marketing ra Ind 700 Montreal Aug 75 184.60; Nov 75 189.MA; Board. Tuesday's prices in brackets. II Tel 45.75 Nova Scotia feb 76 191.90B. Edmonton: 52.89 ascan A 12.8714 Royal 29.25. Monday's volume: 167 contracts. Calgary: 53.10 Tel 53.00 Tor Dom Lelhbrilige: Nil Fort Macleod: Nil New York Dollar value 31.90. (Supplied by Richardson Securities of Canada) MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon 11. T T 48.25 Woolworth 12.25 Wednesday was up 1-25 at 10.99 33-50. BainlngS aconda Westinghouse Elec 1175 Pound sterling was of fl at S2.36 29-100. 11 Steel U.S. Steel 44.75 In New York, the Canadian dollar By THE CANADIAN PRESS S ii neral Motors 39.62V' ?0 Golds 377 05 up 2 49 Cfnts a share; 1973, 16 1' 21.25 10 Base Metals 64. 23 down .66 cents. Harvester 20.62V: 15 Western Oils 153.67 down 2.27 trnmit nrlnmm Imptriil Oil I.U., year ended Dec. nn Copper 34.37V, Volume r99O jtTK99 31: 1974, IJSd.OOO.OOC, 12.23 a share; nlgomeryWard 18.00 NEW YORK AVERAGES 1973 tm 000 000 11 76 x'on 7J6214 la WINNIPEG (CP) Wheat board D1'gMI XMQ..II aul'A ?5UWos 8029 Sown 28 domwtlc feed grain Tuextoy: 3 lit.. month! endtd xasCo 25.37'A 65 Stocks 225 31 10 CW red sprinj wheat 4.7314; No. 1 feed Dec. 31: IWi, 73 nnts a x Corporation 11.75 Volume 9.100.000 barley 2.ffi; No. 1 feed oils 1.89. share; im, IM3.000. 92 life insurance. So maybe it's To: The Manufacturers Life Insurance Company time you started thinking of us as suite 31 Lethbndgo, Alberta something more than just life .p'olil I "j 0 J f d like to know more about; sharing plans. I ___ insurance men. You'll be surprised 1 caoii.i iaxM Fl Income averaging annuities. I ___ I 9ams laxes I ___ I how helpful we can be. i i Flexibli! Registered Business planning servicas. 1 1 Retirement Annuity. ___ Dl-ifc insurance 1 1 (yes, wo soil that, too.) 1 ___ 1 _ Manufacturers Lifo Insurance Company ADDRFSfi with you. POSTAL C.ODP ;