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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 7, 1970, Lethbridge, Alberta 1 AKICrtllC Ol IOT Calgary, Montreal (Supplied by Doherty, Boadliouse and McCuaig) LAST BID Oil SALE m. Quotes) a.m. Ouutes) a.m. Quotes) WESTERN OILS Jollcrson LaKB. Gr In SIWOS 2.40 2.8S Atmtnex 375 -Joufel 1.17 Investor Weaker Evident TORONTO (CP) The Toronto stock market moved sharply in light mid-morning trading today and it appeared headed for its second consecutive session of decline. On index, industrials dropped 1.13 to 140.92, base metals :23 to 88.80 and western oils 1.39 to 116.87. Golds advanced .02 to 159.84. The market posted its_ largest decline Monday sinc.e mid-June. Volume by 11 a.m. today was shares, up from at the same time Monday. Losses outnumbered gains 116 to 34 with 140 issues unchanged. Largest declines were in the beverage, industrial mining, merchandising, pipeline, steel and trust and loan sectors. Among losing stocks, Today bridge was down 2 to CPR IVi to 50, Canada Cemenl Lafarge to Inco to 39, to 14, Lake Dufault to 16VI and Asamera to LOWER Meanwhile in Montreal the Montreal- stock market slipped lower across the board in light early trading today. Dominion Textile was off to The company said it has acquired from National Distillers and Chemical Corp. of New York the remaining shares ol Lana-Knit Canada Ltd. In October, 1969, National Distillers and Dominion Textile jointly acquired the Quebec-based firm. Highlighting early declines, CPR fell to Falcon-bridge 1 to Inco to Canada Cement lo Bell Canada to 41 and Alcan to 21. On index, industrials were ofj .92 to 149.32, utilities 1.42 to 120.22, banks .55 to 158.89, the composite .99 to 145.18 and papers .13 to 81.36. Combined volume on the Montreal and Canadian stocl exchanges was shares al 11 a.m. compared with at the same time Monday. FIRMS UP NEW YORK (AP) The stock market began firming up early this afternoon in moderate trading. At noon the Dow Jones average of 30 industrials was down 0.41 at 675.25. Earlier this morning it had been off nearly 4 points. Declines outnumbered a d-vances by 3 to 2. Analysts said there were no significant news developments to warrant further weakness. At noon the Associated Press 60-stock average was off 0.6 at 222.7. Steels, rubber issues, electronics, metals, Oils and airlines were off. Mail order-retail and motors were up. Large blocks included shares of Seaboard World Airlines at 5 off Westing-house Electric at 60% off 2Vs, and Goodyear at 23% off Among Canadians, Distillers Seagram lost Vs, Canadian Pacific was down and Mclntyre Porcupine dropped On the American exchange, Canadian Marconi picked up as did Molybdenite. Scurry Rainbow and Brascan were down i 3 t Cdn In Oil 7.00 f "J1 Cdrt Super J2.SO Ccn Del Rio 9.20 Cdn S Charter 6.2S wnllepass Chief Ian 7.00 CAL Dynamic Pete. 1.07 Acroll French Pete Ana Pete Mill City 1.18 Barons Oil New Cont 85 Nortn Con! Norlh Cdn Oil 4.50 WKt Nurnac Lecluc 5.75 Mutual Ac F 3.V9 insured K against loss at no extra charge. Insure against hail with and calves 800. Slaughter steers and heifers generally steady. Slaughter cows steady to 50 cents higher. Slaughter bulls steady to weak. Slaughter steers, good to mostly choice, 928 Ibs., 30.70 to 32.10; indh ,.ials 32.75. Slaughter heifers, limited sales, mostly good, 850 to 998 Ibs., 27.25 to 28.50. Slaughter cows, utility and commercial, 19.25 to 23.75. Slaughter bulls, commercial and good, 26 to 30. Calgary Liveitock CALGARY (CP) On offer to 11 a.m., about head; mostly slaughter steers and liefers. Trade was active. All classes of slaughter cattle sold steady with good local and out-of-province demand. Choice slaughter steers 29.75 to 30.60, good 28.50 to dollar down 9-64 at 96 23-32 in terms of U.S. funds. Pound sterling 1-32 at DEN as of Jul DONALD C is associated with ther general practice of law Stringam, Denecky, BARRISTERS A 309 Canada lethbridg Telephone BRANCH OFFICES: Ct 706 3rd Ave. S. Phone, 327-2793 Hem XMHMI "Serving llie South with Integrity GENE FORSTER For Nearly 60 ____lueidoy, July 7, 1970 THE LETHBRIDGE HERALD 15 Grain Prices Winnipeg Groin Prices WINNIPEG (CP) Trading at mid session of the Winni- peg Grain Exchange today was highlighted by fluctuating ac- tivity in July rapeseed futures. Commission house specula- tion had the July price as high as at one point before it dropped to 2'.83% at mid-ses- sion, lower than Monday's close. Trading in all other grains was almost nil. Some light ac- tivity in flax was dull, with prices slightly lower. Oats and barley were un- changed while rye was fairly steady. Monday's volume of trade in- cluded bushels of flax, of rye and of rapeseed. MID-SESSION Prices for class two wheat for export to countries outside IGA: 1 Nor 2 3 4 1 Durum 2 3 1.61; 4 IGA prices: 1 Nor 1.733i; 2 3 4 1 Durum 2 3 1.61 4 High Low Close Flai 276 275% 275% 270% 268% 270% 262% 262V4 262% 259 257% 257% ------263 Jly Oct Nov Dec May Rapeseed Jly Nov Jan Mar May Oats Jly Oct Dec May Barley Jly Oct Dec May Rye Jly Oct Dec May 288% 280 280% 261% 261% 257% 253 255V4 252% 251 251% 249 247% 247% 75% 76% 76% 77% 109% 109% 109% 112% 112% 112% 112% 115 100% 100% 100% 101 104% Broadcast Firm Gets Go-Ahead OTTAWA (CP) Approval of a major expansion program that would make Ottawa-based Bushnell Communications Ltd. one of the biggest television and radio broadcasters in the coun- try was given today by the Ca- nadian Radio-Television Com- mission. The CRTC drew the line, how- ever, at a bid by the present op- erator of CO Oil-TV Ottawa and CJSS-TV in Cornwall, Chit, to bring a long string of cable TV systems under its corporate wing in an expansion bid that involved about Bushnell got a green light for its purchase of the Canadian Marconi Company's TV station and three radio stations in Montreal, a move designed to turn it into a major program production centre for the pri- vately-owned C T V television network. Also approved was purchase by Bushnell of TV stations in the Ontario communities of Kingston, Peterborough, Kirk- Calgary Firm Given U.S. Contract CALGARY (CP) A four- storey building complete with elevator, destined for use by the United States Navy at the South Pole, is to be constructed by a Calgary firm, it was an nounced here. ATCO Research and Develop- ment, a division of ATCO Indus- tries Ltd., was chosen for the contract because of "vast ex- perience in custom designing structures for the Antarctic." It has raamif a c 11. r e d worth of buildings for use in that region, including a labora- tory for the U.S. Navy. The building is to be install- ed by company personnel early 1972. To be known as "Sky it is to house equipment and facilities used by the Na- lional Science Foundation for Antarctic study. Egg Prices EDMONTON (CP) Weekly egg and poultry report jy the Alberta department of agriculture: Eggs: to producers: A large 33; A medium 26; A small 16 to 17; B 12: C 8; Cracks 10. To Retailers: A large 44 to 46 A medium 37 to 39; A small 27 to 39; B 25; C 24 to Cracks 24 to. 26. To consumers (in A large 48 to 49; A medium 41 o 44; A small 31 to 35. Poultry: to producers: live Vo. 1 chicken broilers, 20. Fowl under 4, 6 to 7. Turkey under 12, 2314. Live No. 2 chicken broil- ers, m'2. Turkey under 12, PRINTERS GET RAISE TORONTO (CP) Printers at Wilson Publishing Co. of To- ronto Ltd. have ratified a two- year contract giving them a 31- ler-ccnt wage increase, with op rates going to an hour. Banks Stall Panic NEW YORK (AP) A loan of more than ex- tended by leading banks to Chrysler Financial Corp., the sales financing arm of Chrysler Corp., was an attempt to head off serious financial panic, The Times reports. The package loan, initiated June 29 and scheduled to be concluded Wednesday, was ar- ranged during five business days in a show of confidence by banks in credit-worthy compa- nies caught in a squeeze by pan- icky market conditions, The Times says, quoting members of the banking community. Chrysler Financial's troubles started shortly after Penn Cen- tral Co.'s petition for reorgani- zation of'its railway subsidiary under federal bankruptcy law, The Times says. Sales of Chrys- 1 e r Financial's commercial paper, unsecured notes sold on the open market, dropped 40 per cent, Chrysler Leasing official told The Times. Rumors in the market spurred the banks, led by the Manufacturers Hanover Trust Co. of New York, to arrange the loan package, which The Times says carries an interest rate sub- stantially higher than the 8 per cent prime rate. The Times said nine other major U.S. banks were involved in the package. Depressed U.S. Stock Market Plans Layoff NEW YORK (AP) The American Stock Exchange has announced plans to lay off 100 workers in the face of continued I6w daily trading volumes. The layoff reduces the Amex staff to 850. Combined with a previous layoff of 100 workers May 1, it reduces operating ex- penses by 20 per cent, exchange sources said Monday. The first layoff affecte d mainly floor and clearing-house workers. It includes supervi- sory, administrative and execu- tive personnel. The New York Stock Ex- change confirmed it has been following a policy of not filling job vacancies as they occur. Its staff now totals down, from a peak of in mid- March. land Lake and North Bay, plus radio stations in each of these centres except Kingston, and the two radio stations in Tim- mins. SEPARATES GROUPS In the case of these Ontario purchases, transferring owner- ship to Bushnell means "separa- tion of a group of broadcasting stations from a significant newspaper the CRTC said, meaning the Thomson newspapers. "The commission thinks this separation is desirable." However, it added that ap- proval for purchase of the TV and radio stations in North Bay is contingent on Buhsnell in turn divesting itself of these stations to another purchaser satisfac- tory to the commission "as rap- idly as possible." Bushnell ownership would meet the immediate desirability of separating the broadcasting interests from the newspaper in- terests but the apparent longer- term aim would be ownership for the North Bay stations with- out a tie into a big broadcasting group. Hog Prices hogs. All classes ot weaner and feeder hogs met good demand. Weaners sold steady to strong. Light feeders under 100 pounds scarce. Heavy feeders or more lower. Weaners 9-20. Light feeders (under 100 pounds) 18.75 to 25. Heavy feeders (100 to 130 pounds) 24.25 to 27. Heavy feeders (over 130 pounds) 30 to 35.50. (All prices per head) Light feeders (under 100 pounds) sold from 25 to 30 per hundredweight. Heavy feeders (over 100 pounds) 20 to 24.25 per hundred- weight. CLOSING PRICES Closing hog prices provided Monday by the Alberta Hog Producers' Marketing board: Edmonton: Quoted 28 to 28.60. Average Monday 28.22. Red Deer: Quoted 28.10 to 28.75. Average 28.26. Calgary: Quoted 28.10 to 28.75. Average 28.36. Lethbridge: Quoted 28.35 to to 29. Average 28.51. Lloydminster: Quoted 27.60 to 27.70. Average 27.68. Grande Prairie: No sales. Total hogs sold aver- age 28.25. Total sows sold 98, average 19.21. MUTUAL LIFE APPOINTMENT Harold Norlin, C.L.U. The Mutual Life Assuroncs Company of Canada announces the appointment of Harold Nor- lin, C.L.U. as Branch Manager of its Nelsoh branch. Mr, Norlin has been with tho Company since 1962. Following a highly successful career as one of the Company's leading salesmen, he was selected as a Management Trainee in 1969 for intensive training at Office in Waterloo. In his new- position he will be responsible For the continued growth and development of the Nelson agency which provides insurance service to the surrounding area including Cranbrook, Kimberley and Trail. Beef Futures WINNIPEG (CP) Trading in the nearly futures at the Win- nipeg live beef futures market continued active Monday with prices above previous close levels. Open High Low Close Fri. Jly 31.45 31.50 31.45 31.55 31.40 Sept 30.00 30.10 30.00 30.10 30.00 Nov 29.50 29.50 Jan 28.85 Potato Prices WINNIPEG (CP) The mar- itime pctato futures market con- tinued inactive Monday. Open High Low Close Fri. Nov. 2.30 2.30 Mar. 2.60 2.60 QUALITY DENTURE CLINIC 324 5th St. 5. Ph. 328-7684 Above Capitol Furniture EDDY DIETRICH, C.D.M. GULF CANADA APPOINTMENT R. E. BOWSER J. A. LAW R. E. Bowser has been appointed Superintendent ef the Gulf Oil Canada Limited Pincher Creek Gas Plant, as- suming the position vacated by Mr. John taw who has been named Superintendent of the Gulf Canada operated Strochan Gas Plant, now under construction near Rocky Mountain House. Mr, Bowser was born in Edmonton ond joined Gulf Canada in 1961 after graduating from the University of Alberta in Chemical Engineering. Following several en- gineering appointments in the Production Department, Cal- gary, and the Rimbey and Stettler Gas Plants, in 1968 he was appointed Plant Engineer at the Rimbey Gas Plant and Superintendent of Rimbey Plant Operations in 1969, Mr. Bowser assumes his new position on July 1, 1970 and will reside in Pincher Creek. THE BIGGEST SAVINGS OF THE YEAR ON SCAMPER RECREATION UNITS AWAIT YOU AT UNITED'S TRAILER CITY DURING OUR RECORD BREAKING SUMMER SALE ACT FASTI TRADE-INS ACCEPTED! ON-THE-SPOT FINANCING! A SYMBOL OF QUALITY TRAILERS 15 ft. 17 ft., 21 ft., 23 ft. CAMPERS 8V4 ft. and 11 ft. J MOTOR HOMES The All-New 1300 Series Wi have them all fincit Recreation now ot lowejt prlcei everl UNITED MOTORS COMPANY LTD. Cor. 3rd Ave., 3rd St. i. Phone 3J7-5805 ;