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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 2, 1970, Lethbridge, Alberta Thimdoy, July 1, 1970 THl IITHBRIDGI HERALD 2T Market Higher In Light Trade TORONTO (CP) The To- ronto stock market was mixed to fractionally higher in light mid-morning trading today. On index, industrials rose .26 to 151.79 and golds 1.58 to 159.29. Base metals lost .07 to 89.96 and western oils 1.38 to 122.21. Volume by 11 a.m. was shares, up from at the same time Tuesday. The market was closed Wednesday for Dominion Day. Losses outnumbered gains 82 to 69 with 98 issues unchanged. Largest gains were in bank and industrial mining sectors. Among advancing stocks, Inco was up to Bank of Montreal Ve to Toronto Do- minion Bank Vi to Cana- dian Imperial Bank to to 13Vs and Sher- ritt VB to Doine Pete lost 3 to 41, Bras- can to Chrysler to 18, International Utilities to 19V4 and Bell to PRICES MIXED MONTREAL (CP) Prices turned mixed and trading vol- ume increased early today on the Montreal stock market. In- dustrials and banks moved frac- tionally higher arid the compos- ite index was up .16 to 147.41 at 11 a.m. Combined volume at 11 a.m. on the Montreal and Canadian stock exchanges was shares compared with at the same time Tuesday. Both exchanges were closed Wednes- day, Dominion Day. West Coast Transmission, off to 16 on a 100-share trade, re- ported net earnings equal to 77 cents a share for the fiscal year ended March 31, down from 87 cents in 1969. Simpsons Sears fell 1% to 20 on a 400-share trade, Interna- tional Utilities was off to CPR Vi to 52, Seagrams to 44 and Brascan to 12. Inco gained to 39% while Hudson Bay Mining and Smelt- ing B.C. Sugar Purchases Belkin Packaging B.C. Sugar Refinery, Limited announcei that it has entered into an agreement to purchase over 50 per cent interest in Belkin Packaging Ltd. B.C. Sugar will elect three directors to the Belkin board of six directors. Mr. Morris Belkin will be Chair- man of the Board and Chief Ex- ecutive Officer. Belkin Packaging is now com- pleting the purchase of the Burn- aby paper board plant or Mac- Milbn Bloedel Ltd. for approxi- mately Belkin Packaging was founeK ed in 1945 and supplies fold- mo cartons and corrugated boxes to Western Canadian in- dustry. The company is a major supplier to the beverage indus- try in Alberta, Ontario, Quebec and the Marilimes. The Burnaby paper board plant, which operates on a con- tinuous basis, supplies paper board to manufacturers of all types of cartons, and roofing felt to'roofing manufacturers. It is planned to expand the paper board plant immediately, with the installation of mil- lion in new equipment to take earn of the Increased demands for its products. Financing of the Belkin pur- chase will be done on a tem- porary basis, pending completion of Icng-term arrangements. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Raadhouse and McCuaig) LAST BID Oil SALE a.m. Quotes) WESTERN OILS a.m. Quotes) a.m. Quotes) On index, industrials were up .40 to 151.34 and banks .92 to 163.66. Utilities were off 1.08 to 122.17 and papers .47 to 83.22. MARKET GAIN NEW YORK (AP) Stock market prices made modest wins today in moderate trad- ing. At noon, the Dow Jones aver- age of 30 industrials was ahead 3.63 at 691.27. Among Canadians, Alcan rose Vi, Dome Mines 1, Inco and Massey Vs. Distillers Seagrams fell On the American Stock Ex- .hange, Brascan rose Vs. Scur- ry-Rainbow fell Vi. Finance Wizard Dumped TORONTO (CP) Bernard Cornfeld has been dumped from the board of directors of the fin- ancial empire he founded, but has indicated lie is not yet ready to accept defeat. Faced with a drop in assets blamed on Mr. Cornfeld's man- agement, shareholders of Inves- tors Overseas Ltd. voted at the annual meeting here Tuesday to drop the Brooklyn-reared finan- cial wizard from the board. Mr. Cornfeld told a news con- ference in New York Wednes- day he was "disappointed and deceived" by the new manage- ment of IDS and that his law- yers are examining the legality of the voting. He did not attend the annual meeting. He was sharply critical of Sir Eric Whyndham White, who succeeded him as-chief execu- tive officer of IDS in April, but added he would continue to sup- port the new management "if fine company continues to move on constructively and produc- tively." Mr. Cornfeld, 44, bom Istanbul but raised in the United States from the age of four, started IOS in Paris in 1956 and built it into a complex of 81 companies mvolved in mutual funds, banking, insurance, real estate and related financial- service companies. Almincx Asmera Banff Can South Cdn Delhi Cdn Exp Gas Cdn Grlgol Cdn Home Cdn Ind Gas Cdn Super Cent Del Rio Charter Dynam Pete French Pete Gt Plains Mill City New Cont Numac 4.GO Pcrmo........a Petrol........ l.Ot Ponder ........51 Ranger 7.8C Scurry Rain 12.7; Soooner 1.4' Triad 3.4: West Dec 3.8( MISCELLANEOUS INDUSTRIALS 3.70 11.37'A 7.10 3.00 3.20 3.15 5.90 6.05 7.50 23.00 5.30 (.50 1.08 4.55 17.00 1.20 Inter Steel Jclf Lake Joutcl Kaiser Res Kam Kotia Menlor Ncwconcx Pac Pete Rank Organ Shell Inv Shell Inv Pfd Shell Inv WIs Stcks Ranler West Cdn Sd 5.75 Dynasty 8.12'A Futurity 1.20 14.00 1.95 i.is 18.25 12.50 25.50 24.50 10.50 Giant Mascot Granlsle...... Key Indus Growers B Hy's....... Inter Brew Jericho...... Kamloops Copper Lornex..... Mt Washington Madrona..... 2.20 Mew Cronl 6.80 11.50 .36 ..1.55 2.75 4.00 .09 .10 6.70 ...10 '.07 While and Yuk. KHVi New Imp '....l.M .85 .07 .06 .03 No Markets NEW YORK (CP) AU stock and commodity exchanges in the United States will be closed Friday as many Americans take a long weekend holiday in ob- servance of Independence Day. Banks will be open. SALES OFF Television dealers in New Delhi, India, are complaining that a government increase in taxes has cut sales in some cases by 100 per cent. SMALL OFFICES FOR RENT EACH PER MONTH SECRETARIAL SERVICES ALSO AVAILABLE Contact PAHULJE CONSTRUCTION LTD. 1618 S. PARKSIDE DRIVE PHONE 327-6747 Insure Now Against Your (landing grain is insured against lost at no ixtra chargt. Call us now. not sorry. Insura againtl hail with fOllSTtH 6ENI FORiTER 7M 3rd S. 327-1793 "Serving South with InHgrity For Nearly 60 Ytori" CALGARY Acrsll Anac Pete Barons Oil North Cont West Warner Leduc Calm .05! Madison.......18 Qulnalta.......04' Rexdale .......15 PIPELINE STOCKS Alta Gas Trk A 41.00 Cdn West Nat Gas 14.00 OK Helicopter primer...... Silver Standard TC Explora Trolan Western Mines Weslcoast Res Western Ex Utica MUTUAL FUNDS AGF Special 2.00 2.10 All Cdn Comp 5.9S 6.50 All Cdn Div 6.93 7.57 Cdn Ven 3.01 3.29 5.70 .21 1.36 .39 .53 4.15 .27 ...18Vs .85 Aquatlne Brit HIM Cdn Brew A Cdn Hyd car cdn Pac Inv CPR Pfd Crows Nest In Cygnus A cygnus B cum Prop Gt Cnn OH Gt Cdn Oil Sd Home A....... Home B and Pit Hud Bay Co Hurl Bay oil Hugh Rus Pfd Husky Oil Husky Oil B Husky Oil Wat'. Int Pro Pipe Int Utll 16.00 4.00 27.50 10.50 51.00 40.00 4.50 4.05 8.50 3.90 96.00 13.00 15.00 2.05 11.87'A 50.62VI 20.37'A 7.25 37.25 2.55 8.05 21.00 Inland Nat Gas 8.8714 Amer Growth 4.05 4.45 North and Cen 11.00 Can Growth -.4.48 4.92 Cdn Invest ..3.90 4.28 collect Mut Comn Inter North and Cen pfd 25.00 Ga! Metro 3.35 Trans Can Pipe 25.50 Trans Can pfd 51.00 ..3.9. 4.75 5.M 10.6711.69 Lever 2.M 2.83 Trans Can Wrfs 6.55 Corp Investors 4.60 6.03 Westcoast Trans 16.00 Dreyfus Fund 9.3010.19 4.30 Northwest Fl 3.M 3.56 Northwest Grth 3.72 4.09 21 Growth Eq 5.29 5.81 M Grouped in 2.65 2.90 89 Investors Gwfh 9.31 10.H "14'00 In Mul ......4.54 4.97 18 IOS Venture 2.97 3.25 'Y85 Mut Ace Fund 4.06 4.47 10J5 Mut Growth 3.59 3.95 .54 Mut Income 'n Nat Res Prln Growth Prov Mut Regent Fund West Pacific VANCOUVER Arctic Mining Atlas Explor 8th Copper Bornlte Ridge Block Bros Brenda Captain Inter Churchill Cop Crestbrook Croyden Dolly Varden 3.00 ..3.80 6.00 .30 .40 Royfund Unted Ace ..4.08 4.49 6.76 6.73 3.34 3.67 5.70 6.23 6.93 7.57 4.52 4.64 3.97 4.36 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes! a.m. (Junto) Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Trading was light on the Winnipeg Grain Exchange today as a continuing weak Chicago mar- ;et kept orders to a minimum. Winnipeg graders have back- ed off as a result of the slump on the Chicago exchange. Com- mission houses were doing the only active trading. July flax was down as much as three cents from the pre- vious close level as traders ooked to other 'months for heir supplies. Rapeseed futures were mov- ng slightly higher on light rade. Oats, barley and rye all had a light trade with prices rnov- ng fractionally in both direc- tions. Volume of trade Tuesday in- cluded bushels of flax, of rapeseed and 582.- 000 of rye. Export loadings of Canadian Wheat Tuesday included 026 bushels to India. Prices for Class Two wheat or export to countries outside IWA: 1 Nor 2 3 4 1.51 Vs; 1 Durum 2 3 1.61; 4 IGA prices: 1 Nor 1.7SV4; 2 3 4 1 Du- rum 2 1.70; 3 1.61; 4 a.m. Quotes) INDUSTRIALS 7.50 12.25 4U5 4.80 5.00 20.75 1.10 10.00 20.50 3.2S 6.50 17.75 52.00 21.25 14.75 44.25 13.75 Abitlbt Alcan Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil B.C. Tel Burns B.C. Forest B.C. Sugar CAE Ind cdn Brew Chemrell Col Cellulose Cat Power Coron Credit CWN Gas Cdn Indust Canada S S Cdn Mar-conl Cdn VIIKerS Chrysler CPR Cons Bath Cons Gas Dlst Sea Dom Bridge Domfar Dom Textile Dom Stores Dome Pete Fam Play Fd of Amer Gt Cdn oil Gen Motors Gt Lakes Pap 17.25 Gulf Oil Cda 14.50 Hawker Sid Huron, Erie Hiram Walk Imperial OH Imperial Tob Int Niukel Int Pipe Inv Gp A int Utilities Indust Accept Laurenft.de Kelly Doug A Loeb....... Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molson's A Molson's B North, Cent Pembina Pp Price Co Rothmans Shell CDA Simpson's Simp Sears Sleel of Can Selkirk A Texaco 21.25 7.50 1612W Triers GP A Vnn Trans Mtn Pp Trans Can Pp Union Gas Union OH Versatile Mfg Westeel Unicn Car Weston's B Woodward's A West Cdn Sd Zenith Elec 11.25 Falconbrldge_._ 141.00 16.75 Frobex pjrsj Marltlmes 1.51 -7.37W Giant Y.K. 8-00 Gortdrum 3.40 25.50 Gurmar 1.10 15-75 Granduc 8.10 20-00 Headway R.L. 11-50 Holllnaer 27.00 Hud. Bay M-S 21.87V4 Hvdra Highland Bell iron Bay Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore 825 8-25 H-50 20.75 2-20 1l'l2Vi Montreal BANKS mperial Langis Silver Macassa Madsen R.L. Malartic G.F. 2.75 1.53 .24 10.25 .45 28.00 3.50 1-55 .07'A 1.31 .92 .77 Martin McNeely 11.50 Nova Scotia Royal Tor-Oom 12.50 41.50 1.75 16.00 Acme Advocate Asb. V Akaitcho J3.OT Area Mines Belcher Iron Black Bay Bralorne Broulan Bethlehem 1D.uu Brunswick Canada Tung. 15.25 Cassiar 13.00 Central Pah 39.51) Chimo Conwest 6.35 Cons. Rambler 19.50 Lake 14.00 Cochenour 3.80 Craigmohi 5 Dickenson Mine 4.35 Denison Mines 5.75 Deer Horn 17.00 D'Eldona 9.62Vi Dome Mines 23.25 Donalda 29.00 Discovery Mini 13.00 East Malartic 13.00 East Sullivan in i 19.37% Maybrun is.oo Maclniyre 16.50 Mcta 21.25 Mldrim Intern Mogul New Athona New Calumet New Imperial Noranda Opermska Osisko Patlno pine Point Placer Dev. P.C. Exp Quebec Man Rayrock Radtore Rio Algom Roman Corp. Silverfields Sherrltl Gordon Silver Miller Steep Rock Siscoe 1.60 Tek Corp 23.00 Texmont .08 Upper Canada .66 Western Mines 59.00 Wright Her. .30 Willroy 1.30 Windfall .90 Yellowknlfe Br. 5.55 Zenmac .09 2.00 .'43 2.00 .40 .09 1.45 .29 13.75 5.55 1.90 20.00 1.29 .45 .58 9.15 .20 23.50 1.86 26.75 10.75 12.75 .3016 33.00 30.50 31.00 .60 .20 1.17 .31 17.75 6.25 2.00 18.00 .08 3.05 1.90 5.90 .46 1.44 4.15 1.65 1.31 .12 3.75 .10% NEW YORK STOCKS Supplied by Richardson Securities of Canada Amr T and T Anaconda Bth Steel..... Chrysler..... Comsat..... Dupont GM......... Gulf....... IHC......... Kenn Copper 42.00 J3.25 22.50 17.25 30.50 62.75 22.62V4 23.50 42.50 Mont Ward Sears..... Std Oil of NJ Texas Gulf Texas Co. Woolworth Westinghouse U.S. Steal ___ TORONTO AVERAGES 20 Indus 151.39 off 15 i6.37'A 55.12'A 114-87'A 25.87'A 29.25 ..64.00 31.25 !0 Golds 159.98 Up 2.27 10 Base Met 89.77 off 2 15 West Oils 121.97 off 1.6 Volumi NEW YORK AVERAGES 30 Indus 192.02 UP 4.H 20 Rails uc 15 Utilities 96.75 up 39 a Stocks 214.97 up 96 Volume Funerals Cost Increases OTTAWA (CP) The average cost of funerals rose 20 per cent between 1964 and 1968 but the increase was less for indigents, veterans and members of the armed forces, the Dominion Bu- reau of Statistics reported today. DBS said the 1964 figures are not directly comparable with its 1968 statistics. The latter in- clude cases and liners for cof- fins, not included in the 1964 costs. The bureau also said Quebec continued to have the highest average costs for funerals, aw Newfoundland the lowest. The all-Canada average for funerals for adults rose to in 1968 from in 1954. For children, average costs rose to from and for infants to from The rates drograms in most provinces. A statement-released by the provincial ministers at the end if their second day of closed meetings quoted Mr. Olson as saying a prime factor in any marketing program would be ;he rationalization of produc- and marketing of a regu- lated product in Canada. The ministers told Mr. Olson they wanted to retain their own programs dealing with agricultural development, but asked for national guidelines within which they could oper- ate. The federal minister said long range guidelines are dif- ficult to establish as many un- foreseen circumstances could arise to alter these projections. He cited the weather, markets and government policies in other countries as factors over which there is no control. BILLION MERGER LONDON (Reuters) A merger between Hill Samuel, the merchant bankers, and Met- ropolitan Estates, Britain's sec- ond-biggest real estate com- pany, has been announced. II will lead to the creation of a joint company with a stock market value of and controlling assets far in ex- cess of this. steady rates. Choice steers: 29 to 29.80; good 28 to 28.75; medium 26 to 27.50. Choice heifers: 27 to 27.60; good 26.25 to 26.75. Good cows: 21.130 to 22.22. Good feeder heifers: 27 to 27.70. Butcher hogs sold Thursday morning f.o.b. Ltehbridge 28 base price. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about 850 head' mostly good and choice slaugh- ter steers and heifers. Trade was strong and active. Slaughter steers were 75 to one dollar higher, heifers were steady, cows were strong and bulls were steady. Choice slaughter steers 29.50 to 30.60, good 28.50 to 29.25, me- dium 27.50 to 28.25. Choice heifers 27 to 27.60, good 26 to 26.75, medium 25 to 26.75. Good cows 21.25 to 22.10, medium 20.25 to 21, canners and cutters 17 to 20. Good bulls 26.50 to 28.70. Replacement cattle were mostly fleshy seters and heif- ers meeting a good local de- mand at steady prices. Good feeder steers weighing more than 750 pounds 29 to 32. Good feeder heifers 26 to 27.70. No stock or slaughter calves were offered. Hogs base price 27.85 to 28.10. STORE FOR RENT GOOD VOCATION ON 5th STREET SOUTH Suitable for shoe store or ladies' wear ilore APPLY: Stan's Men's Wear 321 5th Sf. S. WEEKEND ONLY .95 SPECIAL! 12 PLUS 15e A MILE AVIS RENT A CAR Effective from S p.m. M. until 8 a.m. Man. morning Beny Automotive Enterprises Ltd. Contact Boris Korejhenkov, Rep., Avis Rent a Car 2nd Ave. ond 8th St. S. Phone 327-0665 The Litchfield Land Corporation of Phoenix Extends A Co-ordial Thank-You To Lethbridge The Litchfield Land Corporation of Phoenix, Arizona and their Canadian employees wish to express publicly their sincere thanks to their many investors in Lelnbridge and hope to see them soon on their vacation in the "Val- ley of the We also at Litchfield Land Corporation would like to express our special thanks to Mr. Hal Hart, the catering manager at the El Ranctio Motor Hotel for the fine pre- pared foods and service rendered to our guests at our dinner parties during our stay in Lethbridge. We at Litchfield Land Corporation certainly look for- ward to our return engagement in Lethbridge. Litchfield Land Corporation Developers of West Phoenix Estates ;