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Lethbridge Herald, The (Newspaper) - July 6, 1970, Lethbridge, Alberta ____. Monday, July 6, 1970 THE lilHMIDGE HERALD 15 Market Dips In Early Trade TORONTO (CP) The To- ronto stock market dropped moderately lower in light mid- morning trading today. On index, industrials were down .69 to 151.12, golds .19 to 159.96 and western oils 1.47 to 120.33. Volume by 11 a.mj was shares, down from at the same time Friday. Losses outnumbered gains 70 to 42 with 113 issues unchanged. Largest losses were in bever- age, merchandising, paper and forest and pipeline sectors. Among declining stocks, CPR was down 1 to Moore to 28, Seagram to Chrysler to Inter-Provincial Steel to Maclean-Hunter 'A to 11, Hothman to Alcah to 21% and Northern and Cen- tral Gas to Falconbridge gained to International Mogul 15 cents to and Lake Dufault to LIGHT TRADE MONTREAL (CP) Early trading was extremely light today on the Montreal stock market. Papers moved fraction- ally higher while all other sec- tors slipped lower. Massey-Ferguson, unchanged at plans an early closedown of its North American combine plant because of growing inven- tories and a slowdown in the farm-implement industry. The plant's 625 workers will begin a vacation and inventory period July 17, three weeks ear- lier than the planned closedown Aug. 10. Moore Corp. declined to 28, QSP Ltd. to Royal Bank i y4 to 20% and IOS Ltd. 10 cents to 3.10. i Dome Petroleum slipped 2 to j 38 while Falconbridge gained 1% to 143. On index, industrials were off .57 to 151.15, utilities .16 to 122.21, banks .41 to 160.35 and the composite .47 to 146.97. Pa- pers were up .21 to 83.21. Combined volume on the Montreal and Canadian Stock Exchanges was shares at 11 a.m. compared with at the same time Friday. SAG IS ON NEW YORK (AP) Stock market prices continued sag- ging early this afternoon in moderate trading. At noon the Dow Jones aver- age of 30 industrials was off 8.49 at 680.65. Declining issues outnumbered gainers on the Big Board by nearly 2 to 1. Analysts said investors ap- peared apprehensive over sec- ond-quarter earnings, which will start coming out shortly. Continuing apprehension over corporate liquidity also was cited by analysts as a factor in the market downswing. The Associated1 Press 60-stock average at noon was off 1.9 to 225.1. Standard Oil of New Jerey was off 1% to Among Canadians Distillers Seagrams rose International Nickel was down and Granby Mines was down On the American Exchange, Brasean was off Vs and Cana- dian Javelin was down 'A. Scurry Rainbow Oil was off Bond Hog Prices EDMONTON (CP) Hog prices to 11 a.m. provided by the Alberta Hog Producers' Marketing Board: Edmonton: Quoted to 28.50, selling 28.25. Average friday 28.38. Red Deer: Quoted 28.40 to 28.75, selling 28.40. Average Friday 28.90. Calgary: Quoted 28.30 to 28.40, selling 28.35. Average Friday 29.34. Lethbridge: Quoted and sell- ing 28.35. Average Friday 28.78. Lloydminister: No market. Average Friday 28.65. Total hogs sold to 11 a.m. 2.505. Sows selling 19.87. Total bogs sold Friday average 28.75. DIVIDENDS By THE CANADIAN PRESS Hudson Bay Mining and Smelting Co. Ltd., 30 cents, Sept. 8, record Aug. 11. General Bakeries Ltd., cents, July 31, record July 15. Rise TORONTO (CP) Prices were higher in moderately ac- tive trading on the Canadian bond market last week. On the week, short-term Can- adas gamed 15 cents, while the mid-term issues advanced point. The long-term issues were up 1 point. Major corpo- rate issues rose point. Dealers said the good investor reaction to recent new issues is an indication that the market's firming trend will continue. There were two major new is- sues during the week. The New Brunswick Electric Power Commission introduced a new issue Monday totalling The 9-per-cent, Aug. 1 1975 issue sold at to yield 9Vs per cent. Emeo Ltd. introduced a new issue Tuesday totalling The 9% per-cent, July 15 1990 issue sold at to yield 9.87 per cent. Midland and Osier, a Toronto bond dealer, reported that both issues sold well. Day-to-day money ranged on the week from 5% to 6 per cent, closing Friday at 5% per cent. Three- and six-month treasury bills traded at 5.S1 and 5.95 per cent, respectively. STORE FOR RENT BATA SHOE STORE GOOD LOCATION ON 5th STREET SOUTH Suitable for shoe store or ladies wear store APPLY: Stan's Men's Wear 321 5th St. S. SOUTHERN ALBERTA INSTITUTE Of TECHNOLOGY CAIGARY, ALBERTA SHEET METAL MECHANICS INSTRUCTOR This Is a temporary position for one year and requires a Journeyman Sheet Metal Mechanic to prepare and present shop demonstrations to Sheet Metal Mechanic Apprentices in the various years of their training in such subjects as: Pat- tern Development, Shop Practices and Blue Print Reading. Applicants should have Journeyman Certification as a Sheet Metal Mechanic and industrial experience. A permanent ap- pointment may be available August, 1971. Competition No. 5501-C-45. Closes July 14, 1970. SALARY: Commencing salary will be determined by qualifi- cations and experience. TRAINING: An Instructor In-Service Education Course (includ- ing orientation) is arranged for instructors who do noV have a teaching certificate. GENERAL: Instructors at the Institute enjoy approximately two months vacation leave each year and other benefits in- cluding Pension Plan, Life Insurance Plan, and Medical and Hospital Plans. Enquiries, correspondence and applications to: GOVERNMENT OF ALBERTA Personnel Administration Office Room 1101, j. nowlen Building 620 7th Avenue S.W. CALGARY 3, Alberta. Grain Prices Winnipeg Grain Prices WINNIPEG (CP) October barley and July rye were the only months posting grains at mid-session of the Winnipeg Grain Exchange today. Flax and rapeseed, with some liquidation pressure still evident, continued to trade at prices ranging from to lower for flax and two to 5% lower for rapeseed. Light buying continued in the Oct. barley, but the remainder of the market was mostly quiet. One commission house was doing a spotted business. Friday's volume of trade in- cluded bushels of flax, ,of rapeseed and 000 of rye. Prices for class two wheat for export to countries outside IGA: 1 Nor 1.7314; 2 3 4 1 Durum 2 3 4 IGA prices: 1 Nor 2 3 4 1.51'A; 1 Durum 2 3 4 Higli Low Close Flax Jly 280% 27614 Oct 271Vi 27014 270% Nov 264 263% 263% Dec 260 259 259 May 263 Rapcseert Jly 294 283% 283% Nov 269 264% 264% Jan 261 25714 25714 Mar 25314 253 253 May 251 250 250 Oats Jly 75% Oct----- 76% Dec 76% May 77% Barley Jly 109% Oct 11214 112% 1121i Dec 11214 May 115 Hye Jly 97 96% 9614 Oct 101% 100% 100% Dec May 1M% LIVESTOCK: Lethbridge Livestock Regular Monday hog sale scheduled for 1 p.m., no cattle sales Monday morning. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about 525 head; mostly slaughter cattle of mix- ed quality. Trade was active. All classes of slaughter cattle were steady with prices last week. Choice slaughter steers 29.75 to 30.50, good 28.50 to 29.50, medium 27.50 to 28.25. Choice heifers 27 to 27.60, good 26 to 26.75, medium 25 to 25.75. Good cows 21.25 to 22, medium 20.25 to 21, canners and cutters 17 to 20. Good Bulls 26.50 to 28.60. Replacement cattle were mainly fleshy steers more than 750 pounds and heifers less than 650 pounds. Prices were steady. Good feeder steers more than 750 pounds 29 to 31.80, good feeder heifers less than 650 pounds 26 to 27.90. Good stock and feeder cows 21 to 24.10. No stock or slaughter calves were offered. Hogs base price, 28.35. Bureau Claims These Death, Birth Records TALLAHASSE, Fla. The Florida bureau of vital statistics says it has birth cer- tificates for these names: First Time Ben j a m i n e, Wedless Souvenir Campbell, Full Dress Coat and Cigar Stubbs. Everett Williams, c h i e f of the bureau, says his favorite death certificate reads: "Don't know. Died without the aid of a physician." Big Oil Strike In Tunisia TUNIS (Reuters) An im- portant new oil strike has been made in south Tunisia, the newspaper of the Destourian So- cialist party said Sunday. The deposit at Couech, nine miles from the Algerian border, was discovered by the Halo-Tunisian Petroleum Exploitation and Production Co. Dollar Value MONTREAL (CP) The U.S. dollar in terms of Canadian funds was up 3-32 to 5-16. Pound sterling was up to 1-16. NEW YORK (API-Canadian dollar down 3-32 at 96 51-64 in terms of U.S. funds. Pound ster- ling down 7-64 at 5-32. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhause and McCuaig) LAST BID Oil SALE a-m. a.m. Quotes) WESTERN OILS Atminex Aomera Banff Con Suulh Cdn Delhi Cdn Ex Gas Cdn Grlgol Cdn Homestcf a.m. Quotes) tntt Utll 3.80 Infer Steel Pipe 11.12ft Jefferson Lake Joule I Kaiser Res Kam Kolla Newconcx Pacific Pete Rank Org Cttn Homestd Pf Shell Inv Cdn In Gas Oil Cdn Super Cent Del Rio Charter Dynamic Pete French Pete Gt Plains Mill City New Cont Numac Permo Place Gas Ranger Scurry Rain Spooner West Decalfa Shell Inv Pfd 17.50 1.20 -95 4.95 1-03 1.05 7.30 12.75 Von 190 MISCELLANEOUS INDUSTRIALS Atco In Aquataine Brit Nfld Cdn Brew A Cdn Hydro Car Cdn Pacific In CPR Pld Cygnus A Cygnus 8 Cum Prop Gt Cdn Oi! S Gt Cdn Oil 56-75 97.00 Home A...... 12.12' Home B 14.75 Home Pitfld 2.05 Hud Bay Co 12.00 Hud Bay Oil 12.25 Hud Bay Oil Pfd 51.50 Hugh Russ Pfd 20.00 Husky Oil Shell Inv Wts Sicks Ronier West Cdn Seed CALGARY Acroll Ana Pete Barons Oil North Cont Plains Pete West Warner Leduc Calmar Madison Quinalta Rexdale PIPELINE STOCKS Alta Gas Tr L A 41.00 Alta Gas Tr L Pfd 68.00 Cdn W Nat Gas 15.00 inland Nat Gas 21.00 Gr Equity Gr In Shaares Invest Gr 1.20 Invest Mutual )4 00 1 99 Mutual Ac F s'75 Mulual Gr Fund 3.56 3.92 Mutual In 12.12Va Nat Res 2600 Principal Gr 25 SO Prcv Mutual Regent Fund 3.B7V4 Royfund 2.20 .83 .03 .15 United Ac VANCOUVER Anuk........ Arctic Mining ___ Atlas Explor Belli Copper Somite Ridge Black Brothers Brenda 2.64 5.89 9.27 10.14 4.53 4.96 2.97 3.25 4.0J 4.44 6.72 3.34 3.67 5.68 6.21 A.B6 7.50 4.51 4.65 3.96 4.35 .21 .17 13.25 -IB 2.75 10.00 .52 C. Churchill Copper 3.50 Coronation Credit 1.10 Crestbrook For Ind 6.50 400 8.75 3.85 Croyden ......30 Dolly Varden.....40 _____ _ Dynasty 7.00 J.371A N and C 10.75 Endako 12.00 16.00 N and C B Pfd 34.37V: Futurity.......20 4.10 Gai Metro 3.30 Giant Mascot 2.95 27.50 Tr Cdn Pipe 26.25 Granisle 12.50 Tr Cdn Pipe Pfd A 50.00 Key Industries .36 20.87V3 Weslcoast Tr 16.25 Growers B ......1.65 6-00 Western Pacific 4.15 Hy's........2.75 4.20 MUTUAL FUNDS Interior Brew 4.15 AGF Special 1.98 2.05 Kamloops Copper .09 All Cdn Com 5.91 6.46 Lornex 7.50 All Cdn Divid 688 7.52 Mount Washington .10 All Cdn Vent 2.99 3.27 Madroha ......30 12.12W Amr Gr F 4.04 4.43 New Cronin.....07 Cdn Growth 4.4J 4.88 New Imp Mines 1.85 Cdn Invest F 3.89 4.27 Primer .20 Col Mutual 4.70 5.16 Silver Standard 1.38 Cmnw Inter 10.60 11.62 T C Explor.....37 Cmnw Lev 2.57 2.92 Trojan......51 U.UJ Corp Invest 4.57 4.99 Western Mines -4.35 Dreyfus F U.S. 7.30 10.19 Westcoast Res .27 SS if TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quoies) a.m. Quotes) INDUSTRIALS Molson's B Abltibi Alcan Algoma Steei Atco Ind Allan Sugar Bel Tel Brazil Trac B.C. Tel..... Burns B.C. Forest B.C. Sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR........ Cominco Cons Bath Cons Gas Dist Sea Dom Bridge Domtor -MIA North, Cent Power Corp 21.50 Prlce Co Rothmans Shell CDA 5.87ft Simpson's 41.Sj> Simp Sears 12-75 Stetl of Can 56.00 seikirK A Texaco 23.00 Traders Gp A 16.12Va Trans Mfn Pp 3-SO Trans Can Pp Union Gas Union Oil Versatile Mfg Westeel v Union Car Weston's B 13.25 Frobex 11.00 First Maritimes Giant Y. K...... 7.50 Gorldum 9.50 Gunnar 26.00 Granduc....... 15.25 Headway R. L. Hollinger .28 1.20 8.10 3.40 1.10 8.10 12.00 27.00 8.25 15.00 26.25 Hudson Bay M S 22.00 Hydra Ex Highland Bell Iron Bay ISO 4.80 5.00 21.00 1.10 10.00 Woodward's A 21.00 3.25 6.50 17.75 51.50 2.1.25 West Cdn 3d Zenith Elec BANKS Can Imperial Montrf ____ Joliet Quebec Ke-rr Addison Key Anacon 2.75 Labrador 8.50 Lake Shore Leitch 21.00 Langis Silver Macassa Modsen R. L. Malarflc G F 15 00 2.20 1.30 .24 10.25 .41 2E.OO 3.40 1.55 1.30 .92 .75 Martin'McNeely 72.00 Nova Scotia Royal...... 15.25 Tor-Dom 44.50 MINES 13.75 Acme....... 12.50 Advocate Asb 18.50 Maybrun 14.87ft Maclntyre Dom Textile 9.87ft Akaltcho Dom Stores _ Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Hiram Walk Imperial Oil Imperial Tob Int Nickel Int Pipe Inv Gp A Int Utilities tndust Accept Laurentlde Kelly Doug A Loeb........ Lob! aw A Metro stores Massey Ferg McM1M0n Bloe Moore Corp Molson's A 12.00 Area Mines 38.00 Belcher Iron Black Bay 44.00 Bralorne 3.90 Broulan 64.00 Bethlehem 17.25 Brunswick Cdn Tung Casstar Central Pat 14.25 7.75 41.00 15.00 13.25 39.75 21.00 6.00 16.50 20.00 17.75 1.45 .20 13.50 5.40 1.81 20.00 2.5Q .24 155.00 .17 Chin Conwest........9.5u Cons Rambler.....85 Coin Lake.......14 Cochenour.....43 Mefa Midrim Intern New Athona New Calumet New Imperial Noringate Opemiska Osisko Patino Pine Point Placer Dev P C Exp Quebec Man.....77 Rayrock 7.21 Radiore.........32 9.25 17 23 1.81 26.00 10.37% 30W 32.87W 31.00 1.26 Rio Algom 18.00' 20.37ft Craigmont 13.12V2 Dickenson Mines 3.80 Denison Mini 5.62'A Deer Horn..... 4.35 D'Eldona Dome Mines Donalda...... Discovery Mines East Malartic East Sullivan Falconbridge Roman Corp Silverfields..... Sherritt Gordon Silver Miler Steep Rock Siscoe 6.20 1.85 17.62ft 23.12V2 Tek Corp 5.SC 5.75 17.00 9.50 53.50 27.75 23.50 1.32 1.45 5.50 743.00 Texmont Upper Cdn Western Mines Wright Hargraves Willroy Windfall Yellowknife Bear Zenmac........ 4.25 1.65 1.36 .12 3.80 .10% NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T Anaconda Bth Steel Chrysler Comsat Dupont.............. General Motors 61.15 Gulf 22.50 I2.12V4 Monlgomery Ward 38.50 23.25 22.50 14.75 31.25 116.50 20 Golds 159.99 off 56.00 10 Base Met 89.53 off .32 15 W Oils 118.61 Off 3.19 114.87V2 Volume 25.75 NEW YORK AVERAGES 29.50 30 Indust 678.87 Off 10.27 Westinghouse Elec 62.75 20 Rails 118.81 off US Steel 31.12'A 15 Utilities 96.82 off .06 Sid Oil Of N'.J. Texas Gulf Texas Co jlworth Int TORONTO'AVERAGES 65 Stocks 211.83 off 2.60 Kenn Copper 42.87'A 20 Indust 150.69 off 1.12 Volume No U.S. Troops For Mideast SAN CLEMENTE, Calif. (Reuters) The White House said here the United States has no plans to send military farces to the Middle East, but it left open the door to action to force the removal of Russian combat pilots aiding Egypt in its air war. Presidential spokesman Ron- ald L. Ziegler stressed that the U.S. emphasis now is on diplo- matic negotiations aimed at re- moving Russian combat person- nel from the Middle East and to prevent the military balance frorn tipping against Israel. His comments to reporters at the Western WMle House here left the definite impression that if diplomacy failed and the Rus- sians stepped up their arms buildup in the Middle East, Washington would furnish Israel with more combat jets to pro- tect its security. UNIVERSITY OF LETHBRIDGE 1970 FALL SEMESTER FEATURING: -SEMESTER SYSTEM -COMPLETE DEGREE PROGRAMS (B.A., B.Ed.) -DIVERSE PROGRAM OFFERINGS APPLICATION DEADLINE FOR TRANSFER STUDENTS JULY 15th, 1970 ALL OTHERS AUGUST 4th, 1970 FOR INFORMATION CONTACT: The Registrar, University of Lethbridge, LETHBRIDGE, Alberta. Losses Are Spread Out Among More Investors By HIVING WIIVNOT Canadian Press Business Editor North American stock mar- kets took a battering Airing the first half of this year, and there were the usual comparisons with the great crash of 1929. Just how far the two periods can be compared is questiona- ble. The First National Bank of Chicago takes a look at the two bear markets in its June eco- nomic review, and finds that siich a comparison has little merit. 'Conditions have not deterio- rated that says the bank, "although no one denies that the market has suffered large losses in the past 18 months." Markets started a spectacular climb in early 1968 and reached a peak late that year. The adv- ance was steady, interrupted only by minor declines. 'The market was not able to sustain itself, however, and tumbled into periodic decline, interspersed with some rallies during 1969 and this First National says. Few were able to resist a comparison with the wash of 1929-32. LOSSES HUGE The 1929 crash sliced from New York market value and by 1932 inves- tors had suffered a paper loss of about In contrast, from the end of November, 1968, to the end of the first quarter this year total value fell more than Then followed1 the nosedive of April and May and an addi- tional in value was erased from the total drop of in 18 months. That means that the 1969-70 fall was 2% times the 1929-32 loss. "However, in addition to the many differences in the condi- tion and operation of the na- tional economy between the two periods, there are two factors directly concerning the stock market itself which put the present in better says First National. First, the relative change has not been nearly as dramatic. The market's' peak in late 1968 showed a total market value eight times that of the 1929 high. Thus, it would take a drop of today to match the 1929-32 loss. In 1929-32, values slid 82 per cent. The recent market decline was about 30 per cent. Second, many more investors are involved in the market today than in esti- mated 10 to 20 times more. Thus, losses are spread among more investors so that the aver- age person has absorbed a smaller paper loss than his 1929 counterpart. In Canada so far this year, market volume has dropped about 50 per cent from the first hah" of 19B9. Tlw Toronto Stock Exchange industrial index, a major barometer of market health, fell 34.91 points to 151.52 during the six-month period. FORECASTS VA11Y Those involved in the market see these prospects for the sec- ond half of the year: W. H. Thorburn, chairman of the board of the Toronto ex-1 change: The primary trend is j down and strong, sustained buy-' ing power is needed to reverse the trend. But this appears un- likely in the immediate future. Dleap Hall, director of re- search for the Montreal ex- change: Expects a market re- covery after the summer dol- drums. "The economy is not going bankrupt but there is a psychological barrier that has to be overcome." J. R. Thompson, manager of the Calgary exchange: It is only a matter of time until markets turn upward. "Investors have confidence in the Canadian economy and will want to be- come involved again." Westcoast Firm Reports Loss CALGARY (CP) Westcoast Production Co. Ltd. today re- ported a net loss of or one cent a share for the year ended March compared with a loss of or 28 cents a share in 1969. President D. E. Anderson said in the Calgary based com- pany's annual report that in its first full year of independent operation Westcoast concentrat- ed its efforts on land acquisi- tion and preparation for future exploration and production. A portion of the year's loss was due to expanded explora- tion and administrative operat- ing expenses. The largest ex- pense item was a write- off of book costs of surrender- ed lands, which the company had held for a considerable per- iod and now judged to be non- productive. Mr. Anderson said the com- pany is in a sound financial po- sition with net assets of and working capital of Boy, 9, Shot Accidentally By G mm By THE CANADIAN PRESS A nine-year-old boy who was shot by a companion was among six persons killed ac- cidentally in Alberta during the weekend. Three of the victims died in accidents involving motorcycles. Randolph Jacko was ac- cidently shot near his home on the Cold Lake Indian Reserve, 150 miles northeast of Edmon- ton. MOTORCYCLISTS KILLED A 22-year-old Edmonton man was killed in a car motorcycle collision hi Edmonton. Police, would not immediately release the victim's name, said he was riding on the motorcycle. Edmonton Police identified him as Clifford Douglas Cameron, the motorcycle rider. Barry Arthur Desabrais, 19, of Calgary died when his motorcycle was in a colli- sion with a car near Crossfield, 30 miles north of Calgary. Beverly Peter Kelley, 23, of the Sangudo, district, died of injuries received when his mo- torcycle struck a utility pole in Edmonton. Roger Nelson, 20, of Rocky Mountain House, died when his car overturned near Condor, about 40 miles west of Red Deer. Georga McLeod, 43, of Kam- loops, B.C., was killed in a two- car collision near Edmonton. Smitty's Pancake House Franchise Available Excellent location in Marathon Development in Cily of Lethbridge to be open about Octo- ber, 1970. Cash required approximately Capital investment returned in ap- proximately four years. For further information please write or phone SMITTY'S PANCAKE HOUSES LTD. 709 8th Ave. S.W., CAIGARY, Alberta. 263-5683 (403) TRUCKLOAD SALE DSPENITE PER SHEET ONLY Open a Crestline Budget Account! CRESTLINE BUILDERS MARKET LTD. 'LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;