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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 13, 1970, Lethbridge, Alberta -Monday, My 11, WO THE LETHMIDGE HERALD 13 Little Trend Evident Today TORONTO (CP) The To- ronto stock market pushed frac- tionally upward in light mid- morning trading today. On index, industrials gained .31 to 150.46, golds .12 to 153.39 and western oils .03 to 125.78. Base metals dropped .11 to 89.45. Volume by 11 a.m. was shares, down from at the same time Friday. Advances edged out declines 65 to 53 with 106 issues un- changed. Royal Trust was up to Pacific Pete to Noranda to 26Vi and Domtar Vt to Consumers' Gas lost Vt to International Utilities >A to 21% and United Bata Resources 20 cents to The exchange announced it has suspended Torment Mines Car Deal Protest Continues MEDICINE HAT (CP) A Moose Jaw man today started his sixth day of a hunger strike in protest against a local auto- mobile dealer who, he says, did not uphold a warranty agree- men. Eric Giles, 23, says the Chrys- ler dealer did not live up to the terms of the deal made last June when he purchased a used 1968 American Motors vehicle from him. He said he will fast until the firm takes some action on his complaint or until he faints from malnutrition. Hog Prices EDMONTON (CP) Prices today provided by the Alberta bog producers marketing board: Fjdmouton: Quoted 27.75-27.80, wBng 27.75. Average Friday 28.16. OaJgaty: Quoted 27.75-28.00, 27.75. Average Friday 28.33. Red Deer: Quoted 27.75-27.85, Belling 27.75. Average Friday 28.13. Letlijridge: No sales today. Average Friday 29. Unvdmixeter: No sales today a Friday. Sons at ell points; 18.95. Total hogs sold Pro- vincial average 28.26. shares from trading because the company had failed to meet re- quirements for continued listinf privileges. The stock last trad ed at 614 cents. MARKET RALLY Meanwhile in Montreal prices recorded fractional gains on the Montreal stock markets today, continuing a modest rally begun in the middle of last week. Trading was light. Petrofina Canada edged up to Petrofina S.A. of Brus- sels, the company's parent firm, announced last week it planner to make a 10-for-31 share ex- change offer to acquire up to of the publicly-held shares of the Canadian division In other senior oils, Aquitaine rose Imperial Oil at and Husky Oil at Wi were unchanged. Shell Canada de clined Va to 27. Bank of Montreal was up at Royai Bank was un- changed at Among senior mines, Inco rose to 38% and Noranda to Falcohbridge Nickel and Hollinger both dropped to 141 and 28% respectively. CPK was off to 51 and Hud- son's Bay Co. was unchanged al On index, industrials were up .17 to 150.16, banks .52 to 160.08, papers .37 to 83.90 and the com- posite .16 to 146.14. Utilities de- clined .02 to 121.73. PRICES RISE Meanwhile in N e w York the stock market rally moved into its fourth day with prices con- tinuing to rise. Trading was slow. Analysts said the low turnover could indicate the recent rally was losing some of its support. At noon the Dow Jones aver- age of 30 industrial stocks was up 5.06 at 705.16. The Dow has gained more than 35 points since last Wednesday. Steels, motors, airlines, and rails were mixed. All other cat- egories were up. At noon the Associated Press 60-stock index was up 1.1 at 235.7. Prices included Anderson Clayton, off 1 at Continen- tal Oil, up at American Cyanamid, up at Good- year, up at and Texaco, off at 26y4. In Canadians, International Nickel gamed Granby Min- ing was up ft and Walker Good- ernam was iip Canadian Pa- cific was down and Alcan, Hudson Bay Mining and Gen- star Ltd. all x On the Amex, Molybdenite Canadian was up and Cana- dian Javelin Scurry Rainbow Oil was off Hit the road with on HFC Traveloan Need extra cash to make that family vacation a reality? See us for an HFC Traveloan. Cover every cost...from gas and oil to luggage, lodging, and souvenir shopping. Repay con- veniently when you return. This vacation, hit the happy road-with an HFC Traveloan! Apply for your loan by phone. We'll supply your loan by mail. IMOUKT OF SI 13 IS 30 month 21 a matlh 59.46 28.37 51.24 91.56 tin 319 5SO 1000 160D 2SOO 30M 18.35 32.86 92.59 123.46 94.48 113.38 151.17 HOUSEHOLD FINANCE LETHBRWet 506-4th Avenue Telephone 327-1511 (two doorl well ef Aik about our evening hours MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Dohcrty, Roadhause and McCuaig) LAST BID OH SALE a.m. Quotes) a.m. Quotes) a.m. Quoles) Almlnex Asmcra Banff Can South Cdn Delhi Cdn Export Gas Cdn Grlgol Cdn Homestead Cdn In Gas-Oil Cdn Long Is Cdn Super Central Del Rio Charter........ Cnieftan Dome Pete Dynamic Pete French Pete Gt Plains Mill City Numac........ Permo Petrol Pinnacle Place Gas..... Ponder Ranger Scurry Rainbow B.P. OlI.Gas West Decalta 4.00 MGF Newcomer 8.15 Pacific Pelt Rank Organ Selkirk Hold Shell Inv Shell Inv Pf Shell Inv Wts Sicks Rainier West Cdn Seed Whitepass-Yukon CALGARY 2.s; J.60 3.05 6.10 7.50 24.00 9.00 6.25 6.55 43.75 1.15 4.75 17.50 1.23 4.55 .67 .96 .50 Invest Mutual S.50 IDS Vent 19.50 Mutual Ac F 12.12'A Mutual Gr F 11.50 Mutual In 27.00 Nat Res 26.00 Principal Gr 11.62'A Prov Stock 3.87V2 Regent Fund 2.10 Royfund United Ac Universal Sav 5.60 VANCOUVER 13.00 4.51 2.97 3.25 4.05 4.45 3.56 3.92 3.94 4.33 6.17 6.74 3.34 3. 4.40 4.92 6.89 7.53 4.4B 4.62 3.98 4.37 6.12 .83 .06 OWi 15 MISCELLANEOUS Aquafalne British Nfld Cdn Brew A Pf 28.00 Cdn Hy Ca'rb 11.00 Cdn Pac In Pf 21.75 CPR Pfd 8.25 Crows Nest In 40.50 Cygnus A 4.10 Gt C Oil Sds 4.00 Acroll Anaconda Barons Oil North Contl Plains Western Warn Leduc Calmar Madison Qualnalta Redale PIPELINE STOCKS Alia Gas Tr L A 40.50 Alia Gas Tr L Pld 116.00 Croyden Cdn W Nat Gas 15.50 Dolly Varden Inland Nat Gas 9.00 N and C 11.00 N and C B Pfd 2112 Gar Metro 3.30 17 Tr Cdn Pipe 25.50 a M Tr Cdn Pipe Pfd A 52.00 Tr Cdn Pipe War 6.40 Westcoast Tr 15.50 Western pacific 4.20 MUTUAL FUNDS AGF Special 1.98 All Cdn Com 5.95 6.57 Kaza Copper All Cdn Divld 6.93 7.57 Lornex 1.11 .48 8.45 13.75 3.45 3.80 Anuk Arctic Mining Atlas Ex Beth Copper Bornlte Brenda Brenmac B.C. Sugar B.C. Sugar Pfd Capt Infer Churchill Copper Creslbrok For Dynasty Endako Forl Reliance Futurity Giant Mascot Granlslc Key Indust Hyrs Interior Brew Jericho Kamlops Copper Gt Cdn Oil 6-75 100.00 All Cdn Vent 2.98 3.26 Lytton Mln Home A Home B Hudson Bay Oil Hugh Rus Pfd Husky Oil Husky Oil War Int Pro Pipe Wt In Utll Pfd Inl Steel-Pipe Joutel Kaiser Res Kam Kotia Lake On Cement 13.00 Amr Gr Fund 4.08 4.48 Madrona 14.25 Cdn Gr 4.46 4.90 New Cronln 32.62'A Cdn Invest F 3.88 4.26 New Imp Mines 19.50 Col Mutual 4.73 5.16 North Star Copper 8.25 cmnw Inter 10.53 11.54 Primer 2.25 Cmnw Lev 2.M 2.85 Silver standard 785 Corp Invest 4.58 5.01 T C hxplor 23.00 Dreyfus F U.S. 9.46 10.37 Texmont 5.50 NW Fin 3.14 3.24 118 NW Gr 3.60 3.96 Western Mines U25 Gr Equity 5.27 5.79 Westcoast Res 198 Gr In shares 2.64 2.89 Western Explor Z05 Invest Gr 9.22 10.09 Utlca .21 .17 l.M 13.00 .24 10.00 49 15.75 14.50 2.80 3.50 4.75 .49 .21 5.85 12.00 .35 3.25 4-2! .09 2.20 .32 .32 1.71 .55 .18 1.58 .34 .50 .5] 4.45 .25 .20 .85 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quoles) INDU5TR1A Abltlbl Alcan....... Algoma Steel Afco Ind..... Allan Sugar Bell Tel..... Brazil Trac B.C. Tel..... Burns B.C. Forest B.C. Sugar CAE Ind..... Cdn Brew Chemtell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Canada s s Cdn Marconi Cdn VIckers Chrysler CPR........ Comlnco Cons Bath Cons Gas Dist Sea..... Oom Bridgo Domtar Dom Textlls Dom Stores Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gull OH Cda Hawker Sid Hurpn, Erie Hiram Walk Imperial Oil Imperial Tob Int Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Loeb Loblaw A Metro StOrfS Massey Ferg McMillan Moore' Corp MoIson'S A AAolsotl's B r Pembina Pp Power Corp Price Co Rothmans 42 oo Shell CDA i iVwA Simpson's Sears Sleel of Cm Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans Can Pp Union Gss Union Oil Versatile Mfg westeel..... Union Car Weston's B Woodward's A West Cdn sd Zenith Elec BANKS Can imperial tf W 7.75 23.50 15.75 3.10 6.50 in 3.30 6.75 13.50 Falconbrldge 141.00 11 Frobex .........28 17 12Va First Marltlmes 1.18 6.50 Giant YK 7.75 725 Gortdrum 3-20 9.25 Gunnar..... 1-15 27 00 Granduc 14.62VJ Headway R I 19 so Hollinger 21 Hud Bay M and Hydra Ex Highland Bell Iron Bay 7.70 10.00 28.50 10..50 20.50 8.75 15.00 25.50 13.00 28.00 2.55 8.75 11.75 ISO 51.25 20.25 11 62'A Montreal 1550 s Nova Scotia 44.50 Royal 13.50 Tor-Dam 12.75 TORONTO MINES Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shori n Leitch Langis Silver JS'QO Mascassa o'ln Madsen R L 1 20 Malartlc G F Martin McNeely Mayburn Mela Midrlm Intern 15.00 16.50 20.25 3.05 2.50 1.65 .21 10.25 .48 57.50 3.40 1.85 1.30 .85 .75 11.00 .22 160.00 .16Vi .28 9.00 10.00 Acme...... Advocate 44.00 Akaltcho 9.00 Area Mines Belcher Iron Black Bay Broulan..... Bralprne 42.00 4M 49.00 17.50 14.00 1.70 15.75 AQ.7S 3eth Brunswick Cdn Tung Casslar .871A Central Paf 13.75 Chimo 3B.37'A Conwest 20.50 Cons Rambler 6.121A Coin Lake 21.75 Coenenour 1 Craigmont 3.60 5.62V 4.20 6.00 16.00 8.75 24.00 29.00 13.25 Dlckenson Mines Denlson Mines Deer Horn ___ D'Eldona.......89 Dome Mines ___ 54.50 Donalda.........29 Discovery Mines 1.32 East Malartlc l.oo East sullvan ___ 5.50 New Calumet New Imperial Noranda Northgale Opemiska Osisko Patino .21 Pine Point...... 1.60 Placer Dev p C Exp Quebec Man Rayrock Radiore........ Rio Algom Roman Corp Silverfields ,OJ sherritt Gordon .14Vi Silver Miller .41 Steep Rock 10.75 Siscoe 1.57 Tex Corp....... 24.00 Texmont .OS'A Upper Cdn Western Mines Wright Hargreaves Wiliroy........ Windfall Yellowknlfa Bear 7enmac........ 1.95 .38 13.25 5.10 1.87 19.75 2.30 1.27 .85 .18 .24 1.72 J5.7S 10.00 12.37V4 .32 33.00 31.25 32.50 .70 .14 1.2S .33 17.50 6.60 2.15 18.75 .08 3.00 1.90 5.75 .50 1.48 4.40 1.65 1.37 .11 4.00 .12 NEW YORK STOCKS Supplied by Hiehardson. Securities of Canada Amr T and T Anaconda Bth Steel Chrysler Comsat Dupont General Metori Gulf........... In Harvester Kcnn Copper Montgomery Ward 40.75 23.00 Sears 2.W16 Std Oil of N.J. 56.62W 18.37'A Texas Gulf 714.50 34.62'A Texas Co 26.37'A 120.75 Woolworth ......29.75 Elec 23.75 U.S. Steel.....31.25 23.00 TORONTO AVERAGES 41.87% 20 IndUEt 150.40 up 4.25 20 Golds 1S3.08 off .19 10 Base Met 89.55 cff .31 15 W Oils Off .20 Volume NEW YORK AVERAGES 30 Indusr 7M.T3 up 4.03 20 Rails 123.96 up .18 15 Utilities 103.53 UC 65 Stocks 221.25 Up .92 Voluirit Livestock CALGARY (CP) On offer to 11 am.: About 260 head, mostly slaughter cattle of mixed qualify. Trade was active. Saughter steers, heifers and Dollar Quotes MONTREAL (CP) U.S. dol- ar in terms of Canadian funds up 1-32 to Pound ster- ling up 1-16 to ?2.47i4. NEW YORK dollar up at 96 61-64 in :erms of U.S. funds. Pound ster- ing up 1-32 at 3-16. WINS MEDAL NELSON, B.C. (CP) _Ein- lard Kluge, whose father is a professor at Notre Dame Uni- versity of Nelson, was awarded the Governor-General's Medal 'or academic excellence at the university's spring convocation. cows sold steady with last week's close, quality and con- dition considered. There were bulls on offer. Choice steers 30-30.60, good 29-29.75, medium 27.60-28.75; good to low-choice heifers 26.50- 28, medium 25-26.25; good cows 21.50-22, medium 20.25-21.25, canners and cutters 18-20. Replacement cattle were mostly fleshy steers weighing more than 750 pounds and sell- ing at steady prices. Good feeder steers over 750 pounds 29-31. There were no stock or slaughter calves on offer. Hogs FOB Calgary to 11 a.m., base price 27.75-28, currently 27.75. The hours of trading on the Calgary market during Stam- pede week, Tuesday to Friday, will be 8 a.m. to 1 p.m. MST. The Alberta Sheep Breeders' Association will hold a pure- bred and grade sheep sale at the Calgary public stockyards Saturday, July 18 at 1 p.m. Smitty's Pancake House Franchise Available Excellent location In Marathon Development in City 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 Bth S.W., CAICARY, Alberta. 263-5683 (403) ZORBA COMPOSER QUITS Mikis Thcodorakis, 44-year- old Greek composer, pauses to reflect at news conference after announcing he is re- signing as a delegate to the United Nations sponsored World Youth Assembly. Theo- dorakis, who is an avowed Communist freed from deten- tion in Greece earlier this year, said he would not sit in the same forum with rep- resentatives of tyrants gov- erning Greece. Theodorakis has composed the music for the film "Zorba, the Greek" and other works. Grain Prices WINNIPEG (CP) Guided by a strong Chicago soybean market, oilseeds opened on a pattern of higher prices and were rising steadily at mid- session on tfce Winnipeg Grain Exchange today. The heavy trading session was dominated by the U.S. gov- ernment report released Friday showing a crop estimate much lower than had been expected. July flax was up 3% cents over the Friday close and No- vember rapeseed was up 514 cents. Oats, barley and rye were having a light trade with, prices steady. Volume of trade Friday In- cluded bushels of flax, of rye and of r; Prices for class two wheat for export to countries outside IGA: 1 Nor 1.7314; 2 3 1.62; 4 1 Durum. 2 3 1.58; 4 IGA and domestic prices: 1 Nor 2 3 1.62; 4 1 Durum 2 3 1.58; 4 High Low Close Flax Jly 282% 277% 281% Oct 277% 273% 277% Nov 268'A 265% 267% Dec 262 260% 261% May 266 266 266 Rapeseed Jly 290 235% 286 Nov 267% 264% 265H Jan 258% 254% 255 Mar 255 251% 251% May 253 249 249% Oats Jly 75% 75% 75% Oet 76% 76% 76% OK 76% May 77% Barley ji 110% 110% 110% Oct 113 113 113 Dec H3% May 115% Rye Jly 96% 96% 96% Oct 100% 100 100 Dec 101% 101% 101% May 104% Pressmen, Engravers Allege Lockout OTTAWA (CP) Argument in a week-old labor dispute at The Citizen shifted today to To- ronto as the newspaper's non- mechanical staff pressed typog- raphers in the vanguard to offer concessions for a settlement. Representatives of mechanl, cal unions and The Citizen's management carried arguments before the Onatrio Labor Rela- tions Board iji Toronto, where pressmen, engravers and mail- ers have lodged a charge that they have been locked out ille- gally. The American Newspaper Guild, representing staff in the editorial, circulation and busi- ness departments, appeared at the same time to be getting set to return to work by Wednes- day. FIRST MEMOIRS READY PARIS French president de Gaulle has com- pleted the first volume of on the 11 years he governed France, his publisher said here. Plon of Paris said the first book of a planned tri- logy, entitled Memoires d'Espoir (Memoirs of will appear this fall under tire title Le Ren- ouveau (The It will cover de Gaulle's years from Bond Financing Down TORONTO (CP) Govern- ment, provincial and corporate bond financing for the first six months of this year, according to figures supplied by Wood Gundy Securities Ltd., totalled about down slightly from for the same period last year. Government of Canada issues totalled about up sharply from in 1969. A major item in the gov- ernment issues was the refund issue Intro- duced in mid-June. New provin- cial issues totalled about dcnvn slightly from last year. Total corporate financing was down sharply during the first half of the year. New issues to- talled only about as compared with about in 1969. "Despite the 'decrease in fi- Bowel Movement Theories Rubbish WASHINGTON (AP) Two experts in abdominal ailments say it is not necessary for ever- yone to have a bowel movement every day in order to be healthy. "The once-a-day-without-fail is just an old and untrue cliche that well meaning mothers passed on to their said Dr. Irving Brick, acting chief of the gas- troenterology department at Georgetown University Hospi- tal and school of medicine. Another Georgetown special- ist, Dr. Martin Durkin, put it this way: "It's perfectly normal to 'go' three times a day, and it's also perfectly normal to 'go' once every three upon the individual. "Unfortunately, there is very frequently a feeling among peo- the elderly and some spinster they absolutely must have a bowel movement once a day. And this leads them to take strong laxa- tives. "The danger is that repeated use of strong laxatives makes the bowel insensitive, to normal that one can arrive at the point where it's impossi- ble to have a bowel movement New Delivery Quotas Set WINNIPEG (CP) New deli- very quotas for a number of Prairie centres were announced Saturday by the Canadian Wheat Board. A delivery quota of three bushels per specified acre is effective immediately at one Manitoba point, 16 Saskatche- wan points and one Alberta point. A four-bushel quota is effec- tive immediately at seven points in Manitoba, 17 in Sas- katchewan and four in Alberta. The federal government has announced an objective of es- tablishing a four-bushel quota across the Prairies by July 31. without taking such a potent laxative." Durkin said one hopeful trend is the availability, and wider use, of so-called "bulk" laxa- ives, as distinguished "from stimulants, irritants and cathar- tics." Price Hikes Studied By Commission OTTAWA (CP) The federal prices and incomes commission announced here it is checking into recent or intended price in- creases for a range of services and products from air fares and cement to bread and margarine. The commission, established a year ago to encourage re- straint in setting prices and pay rates, is reviewing the new prices to see if they accord with the policy guide that increases this year be clearly less than advances in costs. Air Canada and CP Air, which announced plans earlier this week to raise domestic air fares by an average of about five per cent Aug. 5, cited higher pay rates and costs of borrowing money as the reasons. Their new rate schedules must be cleared by the Canadian trans- port commission. Four major cement producers raised prices by about five per cent May 1 and June 1. The in- creases apply to sales in On- tario and the Maritime prov- inces. The commission also will check into increases since the beginning of this year in the wholesale prices of edible oils, including margarine, shortening and cooking oil. Manufacturers, citing higher costs for raw 'materials, have raised margarine prices by about five per cent. Retailers have passed on the increases to shoppers. nancing there has been an In- creased activity on the market, compared with the same time last said one analyst. "Money has been tighter than in the previous year, but the money which has been available has been put primarily into short- and mid-term invest- ment." Institutions have been In- volved to a greater extent than last year said Burns Brothers and Denton Ltd. Canadian insti- tutions have provided good buy- ing support for better quality new issues. MARKET STRONGER The market, which started tho year weak, gained strength in February and March. It weak- ened again in April but has come back in May and June. The market has been particu- larly strong in the last six weeks. Most analysts said the unsta- ble stock market condition was a major factor for the bond market's recent good perform- ance. The outlook of poor corporate earnings are turning individual investors to the relative security of the bond market. Bond yields now are generally higher than the average yields of stocks said Burns Brothers. Many bond traders said there is evidence of an easing in in- terest rates. Two successive rate reductions, one in May the other in June, by the Bank of Canada brought its rate down to 7 per cent. Major Canadian banks reduced their prime rate rate at which they lend money to their best customers 8 per cent earlier this year. 'Tight money is still in effect, but interest rates should start to said one analyst. A TransCanada Pipeline Ltd. issue introduced in late May, which carried a 10 per cent cou- pon, was the highest yield issue of tiiis year. YIELD DROPS The average yield on three- and six-month treasury bills dropped below 6 per cent in June for the first time since late 1968. Day-to-day money, which was available at about 1% per cent at the beginning of the year, is now available at about per cent. "Over the next six months wa expect a moderation in interest rates. We expect a reasonably heavy new issue calender, par- ticularly from the public sector, as corporations build up their liquid assets and fund some of their short-term said an analyst at Midland-Osier Securi- ties Ltd. QUALITY DENTURE CLINIC 324 5th St. S. Ph. 358-7684 Capitol Furniture EDDY DIETRICH, C.D.M. ENJOY SUMMER LIVING PICNIC TABLES 6 FOOT, FOLDING SEAT SUNSHADE CORRUGATED PANELS ASPENITE SIDEWALK BLOCKS PATIO BLOCKS colors Open A Crestline Budget Account! CRESTLINE BUILDERS MARKET LTD. 'LETKBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;