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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 1, 1970, Lethbridge, Alberta g THS W1HSKIOCS HtllAlD Monday, 1, 1970- Continued Expansion Of Dam Building Projects Foreseen MONTREAL (CP1 Herald the site of the congress because i.arket Effected Dollar Change TORONTO tCP) The To- roiilo slock market was down moderately in liglit mid-morn- ing trading today. On index, industrials dropped .71 10 153.50, golds 3.75 to 13U.91 and western oils .34 to 130.36. Base metals were up .03 to The market moved downward after the federal government announced Sunday that the Ca- nadian dollar's pegged value of 9SI.5 cents in terms of United States funds umiid be removed. In a parallel move Louis llas- minsky. governor of the Bank of Canada, reduced the lending rate of the central bank to seven per cent from 71-.-. Volume by 11 a.m. was shares, down from at the same time Friday. Advances outnumbered dec- lines !7'I to 77 with 167 issues unchanged. Among declining issues, Inter- national Nickel fell 1% to 401J, Falconbridge 1 to 132'i, Hud- son's Bay Co. to 12 and Pla- cer 1 to 31. LFGIIT TRADE MONTREAL (CP) The .Montreal stock market was stock ket at mkWav nu.xcd in light trading today fol-1 IDS Ltd. slipped 15 cents lo 3.03. John M. King, chairman of King Resources, lias been refused pel-mission to Lake ovor the mutual-fund firm as a result of an unfavorable decision by the United States Securities an Exchange Commission. Highlighting industrial gains, Walker Gooderharn advanced Ms to Industial Accept- ance Us lo Bell Canada T. McCarthy of New York, prcs- idont of Lite international com- mission on large dams, foresees a continued expansion in dain- j building projects around the 1 world, especially in the less-de- veloped countries. He said here the number under construction is larger than it has ever been with at least 1.000 large dams built, 300 in the United States. Mr. McCarthy is heading a worldwide delegation to the 10th congress of the international commission which opens here j Monday. About engineers and oth ers involved in dam-building I projects from 50 countries are 'expected to attend tlis five-day conference. To help make (lie delegation of the interest created by the construction of the larg- est multiple arch Daniel Johnson dam on (lie Manicouagan River in Quebec the world's largest under- ground power house which is part of the Churchill Falls development in central Labrador. Following the conference, the delegates will form four sepa- rate groups and embark study tours across Canada. Among areas to be visited are i h e Manicouagan, Churchill Falls in Labrador, the Macta- quae p o w e r development in Now Brunswick and the Ben- nett, Mica and Arrow dana in I British Columbia. to 4P.i and Toronto Dominion f, thc. Bank ?i to Price slipped 's bel1' of, to Faser to 251, and set "P a large pool in the lobby Consolidated Bathurst to as a temporary home for the greatest dam-builders of al couple of beavers brought in from the Granby, Que., zoo. IK. Among senior mines and oils, Slieli Canada advanced to 24, while Inco declined IV-i to and Noranda to On index, industrials were off Mr. McCarthy said nrost of the sessions -will be technical, .65 to 155.02, the composite .19 i designed to hslp reduce failures to 150.11 and papers 2.44 to 926.66. Utilities were up .69 to 122.11 and banks 1.37 lo 164.79. Combined volume on the Montreal and Canadian stock exchanges was shares at 11 a.m. compared 'with at the same time Friday. DJ.A AHEAD NEW YORK CAP) The in dams end to develop more ef- ficient and safer dam projects. SOME HAVE FAILED "There have been dam fail- ures around the world and it is our task to help reduce the number of failures through the lowing a federal govemnent an- nouncement Sunday that the Ca- nadian dollar nnll be allowed to float freely in relation to other currencies. Bank of Nova Scotia, off !i to reported net income of 60 cents a share in tile first half of up from 59 cents in the corresponding period of 1969. gnawed away a Wcstcoasl Dies CALGARY (CP) Lloyd K. Turner of Vancouver, one of Canada's best-known pipeline executives, died here while on a business trip. He was 55. Mr. Turner was a vice-presi- dent and director of public re- lations of Westcoast Transmis- sion Co. Ltd. and closely as- sociated with the development of natural gas and natural gas systems in the Pacific north- west. He previously worked for va- rious newspapers In Canada the United States. lead registered early in the ses- sion. By noon, the Dow Jones aver- Ege of 30 industrials was ahe. 2.05 at 702.49. Tile blue-chip in- dicator had been ahead as much as 5.13 at I! a.m. Among C a n a d i a n s on the NYSE, Mclntyre Porcupine rose Hudson Bay Mining gained Walker Gcotierham and Granby Mining were up Distillers Seagrams advanced 1's, Canadian Pacific was up 1, Alcan was up and Interna- tional Nickel and Massey-Fer- guson rose On the American Stock Ex- change, Preston was off and Canadian Marconi was up !i. application of the most modern construction methods known." There now are about 10.000 large over 50 feet comfortable in the world in addition to the under con- struction. An international survey has revealed that approximately ?30.000.000.000 has been sched- Bciil Changed VANCOUVER (CP) Bail of cash or property was set in Supreme Court F r i day for Cornelius Polyliet, 59, charged with1 fraud in connec- tion with the collapse of the Commonwealth Group of Fi- nancial Companies. Bail had been set previously in provincial court at ALBERTA GOVERNMENT CANADA MANPOWER The Alberta Government IJ pleased to announcs that ihsy have recently signed an agreement with Canada Man- power 'lo flngago the lervicei of Canada Manpower Centres for Ihs recruitment of Clerks, Clerk-Typists and Clerk Stenog- rapheri In oil rural Alberta Government offices. Applicant! Interested in employment opportunitiei in (rift outlined In al! locations outside of Calgary and Edmonton should contact tha Canada Manpower office serving that region. All applicanls interested In Government smployment within tha citiei of Calgary and Edmonton should continue to contact fhe Alberta Government Personnel Administration Office) in either of (hose two cities. The agreement with Canada Manpower will become affective 1, 1970. P w i SAVE 25% From 25% to 30% On Select Used Cars 2310A 1967 Dodge Polora, V8, auto, blue. Was liss 30% 532 NOW ONLY S1243 Choice of 4 1968 Fury I's VS, auto., 1-door. Was S2175 Less 652 NOW ONLY 2374A 1967 Chev. VS. 2-d'r., auto., power brokes. Less 30% 442 NOW ONLY S1033 U369 1966 Plymouth Fury, 6 cyl., itandard, 4-door, Wai J1177 Loss 30% 353 NOW ONLY mm MOTORS USED CAR DISPLAYS Cor. 20lh St. and 3rd Ave. S. Cor. lOih St. and 3rd Ave. S. PHONE 327-1591 iled for dam building since I960. Canada had been selected as LIVESTOCK Lethbridge Livestock No Sale Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about 400 head, mostly slaughter cattle of mix- ed quality. Trade was active. Slaughter steers and heifers sold steady, quality considered. No bulls were on offer. Good to low-choice steers 31 to 32.20, medium 29 to 30.50; d to low-choice heifers 28.25 to 29.40, medium 27 to 28; good cows 23 to 23.80, medium 2i.75 to 22.75, earners and cutters 19.50 to 21.50. Replacement cattle were scarce, being steers weighing more than 700 pounds and sell- ing at steady prices. Good feed- er steers 30.50 to 33. There were no stock or slaughter calves on offer. Hogs f.o.b. Calgary to 11 a.m., base price 28.80. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherly, Roadliouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes) WESTERN OILS Almlnex Asmera Banff Can South Ccin Delhi Cdn Exp Gas Cdn Grigpl Cdn Home Cdn !nd Gas Cdn Long Is Cdn Super Cent Del Rio Charter Dynam Pete French Pete G) Plains Mill City New Cont North Cdn Oil Numac Permo Petrol Pinnacle Place Gas Ponder Ranger...... Scurry Rain Triad West Doc Int Pro Pips 4.05 Int Steel 11.12Vz Jeff Lake 7.65 Joufel..... 3.70 Kaiser Rci 3.05 Karri Kofia 3.25 Lake On! Pf 6.60 Mentor 4.65 Pac Pete Rank Organ .92 Selkirk Hold 21.75 Shell Inv 8.25 Shell Inv pfd Shell Inv Wfs Sicks Ranier West Cdn Sd White and Yuk CALGARY 6.50 7.90 1 21 4.35 18.621-3 1.32 7.7S 5.50 9.00 1.17 16.50 1.87 2.15 .-19 30.S7'1 11.871 9.00 23.50 24.50 9.10 .95 5.75 i.10 .80 Acroll Anac Pete Barons Oil Worth Cont ins Pete Growth Equity 5.15 5.77 Grp In Share 3.73 3.0-1 Invest Grow 9.2J 10.10 Invest Mut 4.49 4.90 !OS Vent 2.96 3.23 Mut Acm Fd J.62 Mut Grow Fd 3.81 -1.19 Mut Income J.I7 4.59 Nat Resources 6.36 6.95 Princi Grow 3.70 A.C6 Provid Mut 5.70 6.23 Regent Fd 7.12 7.78 Royfund 4.57 4.72 Unit Acm 4.15 4.: VANCOUVER Anuk.........20 Arctic Mining .1? Alias Explor .85 Bethlehem Copper 13.75 Grain Prices III Dollar Help Tourist 1.10 West Warner Leduc Cat Madison Qoinalta 5.50 16.37V3 PIPELINE 1.18 Alfa Gs Tr Lr 3.10 Alfa Gas Tr P 3.40 Alfa Gas Nat MISCELLANEOUS INDUSTRIALS B Pf .04 .16 STOCKS 1 A 36.75 66.00 19.00 5.75 11.00 22.75 4.10 24.75 ---nife ____..... Block Brothers BrencJa Brenmac B.C. Sugar B.C. Sugar Pfd Capt. Inter Churchill Copper .Crest For Ind Croyden Dolly Varden Dynasty Endako Ft Reliance Futurity Giant Mascot Key Indust Growers B Hy's............ Inter Jericho Kamloops Copper Lornex Lytion Minerals Mt Washington 3.00 8.00 .60 15.50 15.25 2.75 2.62 7.25 .33 A.'co Ind Gas Metro Aquafaine 15.50 Trans Can Pipe Brit Nfld 4.20 Trns Can P Pf 32.25 Cdn Hyd Car 11.50 Trns Can P Pf A 4950 Cdn Pac Inv 23.12'.V Trrts Cart Pio War fi.55 CPR Pfd Westcoast Trans 16.62' Crows Nest 43.00 Western Pacific 4.05 fygnus A 3.75 MUTUAL FUNDS Cygnus B 3.50 AGF Special 2.11 Cum Prop S.OO All Cdn Com 6.2? 6.fi7 Madrona Gt Cdn Oil 3.40 All Cdn Divtd 7.31 7.99 Hew Cronin Gt Cdn Oil Sds. 96.00 All Cdn Vent 3.09 3.38 Mew Imp Mines Home A 11.50 Amer Grow Fd -U3 4.75 Primer Home B 14.25 Can Grow 47i 521 Pyramid Home and Pit 2.25 Cdn Invest Fd 3.33 4.2! Silver Stand Hud Bay Co 11.75 Collect Mut 5.11 5.61 T.C. Explor Hud Bay Oil 34.00 Cmnwtth In ...11.02 12.03 Texmont Hud Bay Oil 46.00 Cmnvvlth Lev 1 B3 3 10 Trojan Hugh Rus Pfd 19.00 Corp Invest ...4.33 4.73 Western Mines Husky Oil Drey Fd U.S. 9.6S 10.59 Westcoast Res Husky Oil B 33.00 NW Fin 3.34 3.67 Western Explor Husky Oil War. 3.10 NW Grow 4.05 4.45 Utica TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE Grain Prices WINNIPEG (CP) pi! seeds firmed up' on the Winni- peg Grain Exchange today af- ter a sharply lower price trend had marked the opening of the exchange. The decline was attributed to the freeing of the Canadian dollar which has caused sonic uncertainty at the market. Rapeseed had a moderate rade but it was all local ajxl commission houses on both sides of the market Flax had a light local and commission house trade with some exporter inquiries in de- :erred futures. Oats and barley had a light domestic slu'pper trade with >rices fractionally down from irevious close levels. All rye futures were down ractionaljy in light trade that vas mostly commission house mtermonlh spreading. Export loadings of Canadian vheat Friday included iitshels to Britain. to apan, to The Nether- ands and to Russia. Volume of trade Friday in- cluded bushels of flax, of rapeseed and of rye. Prices for class two wheat foij export to countries outside IGA: 1 Nor 2 3 1.62ss; 4 1.48; 1 Durum 2 3 1.61 jS; IGA prices: 1 Nor 2 3 1.62-ls' 4 5 1.515J; 6 UGii; 1 Durum 2 1.71-ls; 3 Low Close SA.JL Hy VICTOR MACKIK Herald Ottawa Bureau OTTAWA Canadians plan- ning holiday trips this summer to United States or even further afield to Europe or Asia got an unexpected bonanza from Fi- nanct! Minister Edgar Benson Monday. He announced Canadian gov- ernment action that will lead to .he Canadian dollar rising on international exchange mar- kets. That means a Canadian dollar will buy more abroad Jian H did last week. It will have these effects: Canadians seeking to convert their dollars into -ravellers cheques in U.S. dol- "ars will find their Canadian jollars now buy move Ameri- can dollars. Persons in Canada buy- ng imported goods .will get ,hcm for less Canadian dollars j n future. Exporters shipping Ca-i nadian good abroad will find hem being priced higher on the crcign markets with the in- crease in the Canadian dollaj 'ahie. Labor o r g a n i z aliens have to be paid abroad. This would lead to slow down in pro- duction unless manufacturers in this country "sharpen their pencils" to effect ecoiiomdes to keep Canadian products com- petitive on the world markets, lie suggested. 1.5l''i; 6 eeking new contracts with a clause for parity with U.S. wages, or near parity, will sud- denly fmd that the Canadian wages are closer to parity with U.S. wages. Prices of Canadian raw materials, such as lumber and potash will go higher on the >reign markets. cf Canadian wheat is not expected to be much affected, ssid finance of- ficials, for the wheat producer. The move is anU-infla- Lionarv because it should mean a.m. Quotes) INDUSTRIALS AbifibI Alcan a.m. Quotes) North and Potato Acreage To Be Raised CALGARYC CP) Alberta potato acerage will be increased to about 29.000 acres this year compared with in 1969 to meet increased demand, L. G. Jorgenson, secretary-man- ager of the Albsrta Potato Com- mission, said here. Potato products from Alberta now are exported to British Col- umbia, Montreal, Toronto. Great Britain and the United Stales, j Mr. Jorgenson said in a news release. Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil Trac B.C. Tel Burns .BC. Forest B.C. Sugar CAE Ind Cdn Brew Chemcel! Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn VIckers Chrysier CPR....... Cominco Cons Bath Cons Gas Dist Sea Dom Bridge Domtar Textlls 5.25 20.75 1.15 10.00 9.00 20.50 3.05 6.25 52.50 55.00 Dor Stor Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gl Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial Oil Imperial Job Int Nickel Int Pipe Inv Gp A Int Util Ind Accept Laurentide Kelly Doug A Lceb Loblaw A Metro Stores Massey Fera Moore Corp Molsons A Pern Pipe 22.S7V2 power Corp Price Co 8.S7W Rothmans 4.00 Shell CDA Simpson's 1-1.25 Simp Sears 57.00 Steel of Can Selkirk A 24.50 Texaco 15.75 Trad Go A .'..50 Trans Mtn Trans Can Pp Union Gas Union Oil Versatile Mfg V.'esteel Union Carb Weston's B V.'ocd A West Cdn Sd Zenith Elec BANKS Cdn Imp Montreal 15.75 Nova Scotia 13.75 Royal 43.75 Tor-Dom 12.50 MINES 14.00 Acme..... 12.25 Advocate Asp. 12.fi2Vj Akaitcno..... 49.00 Area Mines ?.00 Belcher [roil -10.50 aiacK Bay 3.35 Bralorna oi.OO Broulan 18.00 Bethlehem 14.37Vi Brunswick 1.80 Canada Tung. 15.00 Casslar..... Central Pat. 16.00 Chimo....... 40.25 Cons. Rambler 10.00 Coin Lake 6.75 Cochenour 22.25 Craigmont 13.25 Dickenson Mine 4.15 Denison Mines Dei 13.50 Cen. 11.25 17.25 6.50 10.00 10-00 13.50 14.87 A.m. Quotas) Frobex First Maritlmes Giant Y.K..... Gorldrurn Jordan Wines Plans Winery WINNIPEG (CP) Jordan Wines of Toronto has announc- ed plans for a new winery at Gimli, Man., scheduled for completion by the end of 1971. The announcement was mads jointly by Leonard Evans, Man- itoba minister of industry and commerce, and F. C. Abney, vice president of marketing for Jordan Wines. The plant is lo be built ad- jacent to the CalVert of Canada Ltd. disti Hery which began operation last summer. Hog Prices EDAIONTON (CP) Prices to Jl a.m. provided by the Al- berta Hog Producers Market- ing Beard; Edmonton: Quoted .28.80 to 28.90, selling Friday's av- erage 28.79. Red Deer: Quoted 23.80 to 29.00, selling 28.30. Friday's av- :ragc 29.25. Calgary: Quoted 23.80, soil- ing 2S.80. Friday's average 28 Lethbridge: Q u o c r! SS.fifi. selling 28.30. Friday's average 28.91. saJcs- L 1 o y d minster: No Friday's average 23.25. There were no sows sold to tl a.m. Total hogs sold to II a.m. 2.- Granriuc _ Headway R.L. 19.e7V's Hollinger 21.62V3 Hud. Bav M-S Hydra Ex. 19.00 Highland Bell 8.50 Iron Bay "U.62Vs Iso 74.75 Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Letkh..... Silver 15.00 27.00 3.10 9.00 70.00 1-1.50 2.20 1.40 2.15 -.iS 5.JO 1.90 10.00 i.'ia e.ss Macassa Modsert R.L. AAalartic G.F. Martin McNeefv Maybrtm..... Intern Mogul New Athoria New Cslumst New Imperial Noranda Northqata Opemisks Ostsko Pa'ino Pine Point i Placer Dev. P.C. Exp. Quebec Man Rayrcck Radiorg AFgom Roi Corp. -1.40 6.00 iB.oo 11.00 24.50 30.00 13..C0 .03 D'Eldona Dome Mines Oonalda Discovery Mina East Malartic East Sullivan Falconbridge 133.CO .70 SO. SO .23 1.30 1.05 5.95 Silverfields 5 Sherrltt Gordon Silver Miller IVt Steep Rock j Siscce....... Tek Corp..... Texmont..... Uopsr Canada Western Wright Har. Wiilroy....... Windfall Yellowknife Br. NEW YORK STOCKS Supplied by Richardson, Securities of Canada mer T and T f.iontgom Ward naconda Fiiid Explosives Iri Ireland BELFAST (AP) British Army experts took charge Sun- day of the biggest haul of explo- iives ever found in Northern Ireland. The pounds of gelignite and 170 deto- found hy Robert Anderson in a derelict shed on lis farm near Cookstown, County Tyrone. There was no ndication of who put the gelig- nite in Anderson's shed. BULK OIL DEALERS GRAVEL TRUCK OPERATORS See us for select Insurance Rpfcs Federated INSURANCE W. T (Will) Charlesworth rhorm 327-8706 -1.1.50 57.371 55.62'- 116.25 26.701- 29.12V 10 B Mets S7.66, off .50 15 West Oil 128.08, Off 2.42 Volume NEW YORK AVERAGES 30 Inds 700.58, up .Id 20 Rails U4.83, up .37 Chrysler Texas Co. Comsat 32.75 worth Dupont 113.I2V; Westing E General Motors fi5.37Vi U.S. step) Gulf 24.87Vi TORONTO AVERAGES In! Harvester 25.25 20 Inds 152.45, off 1.76 Volume Kenn Copper 40.50 20 Golds 139.91, off 3.75 LnNS cmfvv cmf IS Ufif Up" .38 33.50 ic 5tocks "S-7 "P -32 SMALL OFFICES FOR RENT EACH PER MONTH SECRETARIAl SERVICES ALSO AVAIIABU Contact PAHULJE CONSTRUCTION LTD. 2618 S. Parkside Drive Phone 327-6747 Smitty's Pancake House Franchise Available Excellent location in Marathon Development in City of Lethbridge to bo open about Octo- ber, 1970, Cash required Capital investment returned in ap- proximately four years. For further information please write or phone SMITTY'S PANCAKE HOUSES LTD. 709 Blh Ave. S.W., CALGARY, Alborla. 263-5683 (403) cheaper prices for i ra p o r t e d said Mr. Benson. He conceded thai in the long nm it could add to the numbers cf unemployed be- cause firms seDing for export Total hogs sold Friday find the demand slackened due to the higher prices that 328. Provincial average 28.93. STORE FOR RENT GOOD IOCAT10N ON 5th STREET SOUTH Suitable for shoe store or ladies' wear store APPLY: BIG HEADS The heads oJ comets are im- mense: the smallest j miles across, the average 000. Men s Wear CORRUGATED 6 ft, long T1 heavy duty construction Sfeel reinforced legs Folding seats Ready to pciinf or stain Each SUN SHADE CORRUGATED PLASTIC PANELS 3 colors: Patio White, Sunlight Yellow, Surf Green. Open a Crestline Budget Account CRESTLINE "LETHBRIDQE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;