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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 7, 1973, Lethbridge, Alberta s s Stronger trend evident today TORONTO (CP) Prices on the Toronto stock market moved higher in moderate mid- session trading today. The industrial index, consid- ered the major indicator of market trend, rose .77 to 208.41, base metals .13 to 96.68 and western oils .60 to 214.00. Golds, however, dropped 7.62 to 283.59 in response to lower prices for the metal on world markets. Volume by 11 a.m. was 000 shares compared with 000 at the same time Wednes- day. Advances outnumbered de- clines 118 to 89 while 168 issues were unchanged. Oil refining, bank, paper and forest and industrial mining stocks were among gaining sec- tors of the market while only general manufacturing and mis- cellaneous groups were lower. Falconbridge Nickel rose 1% to Maclaren Power A 1 to Pollution device for cars shown LONDON (Reuter) The British government unveiled a simple device today which it said marks a major break- through in combatting car en- gine pollution. Called vapipe (short for vapor the device has been shown to cut carbon monoxide emissions by about 70 per cent and nitrogen oxides by about 90 per cent. It is not as effective, however, in eliminating hydro- carbons. Vapipe resulted from more than two years of intensive re- search by the government-run National Engineering Labora- tory, working in close collabora- tion with Shell Research Ltd. The department of trade and industry said its development is "at major significance" from the environmental point of view." British engineers said today the vapipe cuts carbon monox- ide and nitrogen oxide emis- sions and a much simpler and presumably cheaper device could be used with it to trap the third major pollutant, hydrocar- bons. The British approach is to provide for cleaner engine per- formance through a weaker mixture of air and gas than normally used. Chrysler to Peo- ples Department Stores to and Acklands to Emco fell to Brascan to and Crush to Among golds, Dome Mines fell 2 to Camflo 30 cents to and Pamour five cents to Newconex gained 40 cents to Conwest 15 cents to and International Mogul to Voyager was up ;15 cents to Pan Ocean Vs to and United Canso five cents to Skye slipped 15 cents to Beef futures WINNIPEG (CP) Live beef futures close Wednesday. jly _ 46.75; Sep 45.80A; Nov 45.25B; Jan 45.00. Tuesday's volume: Two con- tracts. MONTREAL (CP) Prices were up in all sectors except utilities in light trading on the Montreal stock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, up from shares at the same time Wednesday. Banks gained 1.65 to 256.82, industrials .97 to 226.26, the composite .82 to 214.76 and pa- pers .08 to 115.56 while utilities fell .09 to 149.97. On the Montreal Stock Ex- change, Falconbridge Nickel was up 274 to Soutbani News 17s to National Trust 1 to MICC In- vestment to and Chrys- ler to On the Canadian Stock Ex- change, Maybrun Mines rose three cents to 23% cents on 000 shares. Thursday, June 7, 1973 THE LETHBRIDCE HtftALD 17 Commons warned about indecision on gas pipeline Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dofcerty, McCnalg United) a.m. Cuotn) WESTERN OILS AND MINES Chamber has brief for premiers The Lethbridge Chamber of Commerce will present a submission to the meeting of the four western premiers and Prime Minister Trudeau in Calgary in July. A letter from the prime minister inviting a submis- sion to the three day West- ern Economic Opportunities Conference July 24-26 was read to chamber members at their weekly luncheon Wed- nesday. They agreed that a special presentation concerning reg- ional problems should be sent to the conference, while back- ing the Alberta Chamber of Commerce in a more gener- al submission. The chamber's federal af- fairs committee will meet later this month to draw up the submission. The confere- ence will touch on such top- ics as transportation, air facilities, water resources and regional economics. Albany Oils Alta East Gas Alminex Asamera Ashland BP Canada I Brenda 1 Can South I Cdn Ex Gas I Cdn Homestd j Cdn Ind Gas OH I Cdn Long Is j Cdn Super Charter Chleftan Dome Pete Dynasty Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil Loehiel Lytton win Noble Mines North Cdn Oils Numac Pancdn Peto Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Selbens Total Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES LAST BID OR SALE Qsratn) Cygnus B 7.75 Falcon Copper 13 00 1 28 F and M Trust 6.25 7 85 Genstar 16.12V4 6 if) Home A -10.50 110 Home B Si.SJVi 11.25 Hud Bay Co 1900 15 37Vi Hud Bay Oil -42.75 S 60 Hud Bay A Pfd 52.00 405 Hugh Russell 42.50 340 Husky Oii 20.50 635 Husky B Pfd 42.25 7 12TA Husky D War 7.00 20 Husky E War 8.10 46 00 Hys of Canada 4 70 4.00 Inter Prov Pipe 9.10 a.m. Quotes) Cdn Invest F 495 5.43 Col Mutual 5.29 5.81 Cmnw Inter K69 16.14 Cmnw Lev 3.72 409 Cmnw Vent 7.05 7.75 Corp Invest t.60 Corp In St F 487 5.35 Dreyfus F U.S. 10.71 11.74 Great Pacific 447 4.89 Gr In Shares 3.50 3.85 Gr Equity 7.59 8.34 Invest Gr F 11.91 13.02 Invest Mutual 4.19 Mutual Ac Mutual Gr F Nat Res Suffield program starts in July EDMONTON (CP) The Al- berta government today an- nounced that the drilling indus- try will soon be asked to sub- mit proposals to carry out the 27-well firstt stage of the gas exploration program on the Suffield military block in south- eastern Alberta. Mines and Minerals Minister Bill Dickie said the govern- ment plans to carry out the first stage of the program in July and August in areas of the block not used for military training by Brit- ish troops. The provincial cabinet an- nounced approval of a special warrant of million for the first stage and an additional 50-well program this winter. Initial studies indicate a major undeveloped natural gas reserve of up to four trillion cubic feet is located in the area, an amount that could add 10 per cent to the province's total natural gas reserves. Alberta owns over 95 per cent of the sub-surface rights in the block, but the surface rights are owned by the federal gov- ernment. Ottawa uses the block as a military training facility, and British armored units will be using more than half of it this year for their annual spring- through -fall training man- oeuvres. A Calgary engineering con- sultant firm, Last and Kloepfer Ltd., will supervise field opera- tions. The cabinet also named two members to the Suffield evalu- ation committee that will over- see the gas exploration pro- gram. Philip Dowling, a member of the Environment Conservation Authority, and James K. Gray, a Calgary oil executive and author of the study last year on the potential reserves in the Suffield block, were named members of the committee that is heeaded by H. H. Somerville, former deputy minister of mines and minerals. WANTED! INDUSTRIAL PROPERTY LEASE BACK large, responsible Western Canada Company would like to lease a warehouse and office building of approximately square feet in Lethbridge area. Would be prepared to sign long term lease. New cost of land and buildings es- timated to be in to range. Who would like own this type of property ond lease it back to us? Apply BOX 125, LITHBRIDGE HERALD Acres Ltd Aqultalne BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrook Ind Ind Cygnus A Inter Prov Steel 12.25 31 25 Kaiser Res 3.05 7'9o Loblaw C Pfd 09 Magnasonlcs 10 00 Van Pacific Pete 27.12'A lo'oo P W Air 9.75 2700 Pe-Ben Oilfield 4.25 o'oe Rainier Inc 5.12Vi 205 Royal Trust 24.87W 1 S St Maurice .92 l 12 Sandwell 3 35 470 Teledyne 410 14 00 West Cdn Seed 5 50 13 37V, Westfleld Win 1.22 12-37Vj Wcst Min War 117 WsstOn A Pfd 62.00 22 White Yukon 14.50 "55 PIPE LINE STOCKS 38 Alta Gas A 13.75 27 Alta Gas Pfd 16.50 Alta Nat Gas Inland Nat Gal 6 75 N and c Gas .99 N and C B Pfd 5 e7Vi Pacific Trans 5.00 Gaz Metro Gaz Metro A Trans Can Tr Can A Pfd N W Cdn N W Gr Principal Gr Roy fund Temp Gr United Ac Universal Sav unlvest Vanguard 578 6.35 3.41 3.76 7.49 823 542 5.96 4.74 5.21 4.17 4.58 6.43 6.69 8.S4 9.33 4.8V 5.37 7.48 8.22 574 631 6.03 6.66 19.50 10.50 9.B7W 21.87VJ 4.20 6500 35.00 66.00 41 25 7.05 17.75 2.85 133716 Tr Can B Pfd Tr Can War 1500 WC Trans 270 WC Trans War MUTUAL FUNDS 20 25 All Cdn Com 6.88 7.52 26.00 All Cdn Divid 7.36 8.04 725 All Cdn Vent 344 376 29 50 Amr Gr F 5.17 5.43 7.75 AGF Special 2.51 CALGARY Acroll .50 Barons Oils JU'A North Continental Western Warner .37 VANCOUVER MINES Atlas Explor .52 Bath Norse .83 Croyden .03 Dankoe 1 95 Davenport .50 Dolly Varden .32 Equitorial Res Lornex 5 Primer .11 Pyramid .'6 Silver Standard .76 Valley Copper 1.75 INDUSTRIALS Columbia Brew 2.75 Key Indust Wardair OILS Prp Explor Plains Pete Ponderay .28 2.40 1.43 .21 .95 Stampede Intl Rex 1.D5 Toronto mines. industrials rSnpplied By Richardson Secnrittefl of m Quotes) MINES Acme .13 Advocate Asb. 1.20 Akaitcho 1.16 Bralorne 2 20 Broulan .43 Bethlehem Brunswick J 50 Can. N.W. Land 6.75 Canada Tung 1 70 Cassiar 10 00 Central Pat 1.11 Chimo 1 31 Conwest 6.25 Cons. Rambler 3 60 Coin Lake .20Vi Cochenour 1 15 Craigmont 6 50 Dickenson Mines 3 90 Denison Mines 29 25 Deer Horn .05 D'Eldona .37 Dome Mines 93.12Vi Donalda .37 Discovery Mines 1.21 East Malartic 3 SS East Sullivan 2 41 Falconbridge 70 '5 Frobex .22 First Maritimes Giant Y.K. 7 to Bovis 215 Granduc 3 30 Hollinger 44 oo Hudson Bay M-S 22 37V2 Hydra Ex. 33 Iron Bay 3 75 Iso 2 Joliet Quebec 23 Kerr Arldisqn 12 U''a Key Anacon 24 Labrador 4: Lake Shore 3 10 La-iris Silver 08 Madsen R.L. 1.0? Malartic G F 1 05 Martin McNeely Maclntyre 54 03 Mela 12 Midrim 13 Intern Moqul ll 62V'a Nu West Homes 875 New Athona 17 New Calumet .27 W. Horse Copper 3 00 Norsnda 49 25 Norlhgata 5 30 Norlex .30 LAST BID OR SALE r.m. Quotes) a.m. Quant) Osis'KO .22 Placer Dev. 27.00 P.C. Exp. 2.85 Quebec Man .11 Rayrock 1.31 Radiore .28 Rio Algorn 2425 Roman Corp 6.65 Sherritt Gordon 15.00 Steep Rock 1 54 Tek Corp. 4 15 Texmont 20 Upper Canada 2 85 Western Mines 3.00 Wright Hargreaves 1.26 Willroy 1.10 Windfall .14 Yellowknlfe Bear 3.45 Zenmac .11'A INDUSTRIALS Abitibi Alcani Algorrla Steel Atco Ind Atlantic Sugar Agra Ind Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Vsl Ind CAE Ind fdn Brrw Chemcell Col Cell Calgary Power Coron Credit C.W N Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler C P R Cominco Co-is Bath Cons Gas Dist Seaarams Dom Bridge Domtar Textile Dom Stares Dome Pete Dofasco Cable Glendale 1025 2800 16.75 10 621i 6.25 1000 43.00 19.03 51.62V2 1675 1675 19.50 26 435 405 400 2500 1 75 1075 1500 375 11 50 26.87i'i 1750 21 25 37 87V 3 3400 2000 7.75 14.25 31 ZS.75 14.00 9.25 Grt Cdn Oil Gen Motors Grt Lakes Pp Gulf Oil Cdn Greyhound Hawker Sid Hur Erie Hiram Walker Imp Oil Imasca Int Nickel Inf Pipe Inv Grp A Int Util Ind Accept Kaps Laurentide Kelly Doug A Loeb Loblaw A Met Stores Massey Ferq McMillan Bloe Moore Corp Molsons A Molsons B Nachurs North Cent Power Corp Price Co. Rothmans St. Law Corp Shell CDA Simpson's Simp Sears Steel of Cda Selkirk A Texaco Traders Grp A Trans Mtn Pp p Trans Cda Pp Union Gas Union Oil United Siscoe Versatile Mfg Westeel Union Carb Weston's B Woodward's A west Cdn Seed Zenith Else 8.40 67.75 21.50 1875 4.50 38.75 2950 29.00 2425 9.00 23 62Vi 7.37V2 11 75 6.75 495 6.75 29.75 26.50 25.50 1000 1075 14.75 1125 19.50 9 1300 2975 1475 5900 16.25 20 3500 1025 1025 7.75 650 15.25 2050 550 2.65 BANKS Cdn Imp J9.87V} Montreal 18 l2Vj Nova Scotia 32.00 Royal 34 37V2 Tor-Dom York stocks (Supplied By Richardson Securities of Canwta) Amr T and T Anaconda Be'tti Steel Chrysler Comsat Dupont GM Gulf Int Harvester Kefirt Copper 51 50 Sear< 17.75 X-Ron 29 Texas Gulf Texas Co 45 oo Wickes Corp 146.75 Woolworth 34.50 U.S. Steel 31.25 23.50 28.00 JO Golds 281.10 off 101 95 10 Base Met 97 J5 up .90 7225 15 W Oils 214.S2 up 1.42 35.50 Volume 5375f'ANEW YORK AVERAGES 30 Indust 904.30 uo Rails 160.90 up 1.43 Gen Tel Elec 15 Utilities 106.68 up .35 24 TORONTO AVERAGES 65 Stocks up _ __ _ Montgomery Ward 20 Indust 209.34 up 1.70 Volume Gold prices LONDON (AP) Thursday's closing gold prices in U.S. dol- lars an ounce: London 118.75 Paris Frankfurt Zurich 118.50 Hong Kong 115.71 Beirut closed Grain prices Winnipeg grain WINNIPEG (CP) were lower in all grains in moderate mid session trade today on the Winnipeg Com- modity Exchange. Losses in flax ranged from 20 to ViVi. cents, with the larg- est declines in the nearby months. Declines in rapeseed were generally smaller, but one month was down Oats, barley and rye all post- ed declines of about five cents in most months. Wednesday's volume of trade was bushels of flax, of rye and 000 of rapeseed. MID-SESSION Flax: July 20 lower 5.97, Oct. 18 lower 5.62, Nov. 10% lower Dec. 14 lower 5.16A. Rapeseed Vancouver: June 7 lower 4.60, Sept. 10 lower Nov. 12% lower 4.58V8B, Jan. 12 lower 4.52B. Rapeseed Thunder Bay: July 14% lower 4.59A, Oct. 8V4 lower 4.48 A, Nov. 5 lower 4.35 A, Dec. 5 lower 4.01. Oats: July 5Yz lower 1.26B, Oct. lower Dec. not open. Barley: July 6 lower 1.97Y4B, Oct. 4% lower 1.90y4, Dec. 37s lower Rye: July 6 lower 1.87, Oct. 47s lower l.sgVsB, Dec. 5 lower 1.87B. Grain quotes Wednesday (ba- sis High Low Close Flax Jly 61? 617 Oct 580 550 580 Nov 555 Dec 530 509 530 Rapeseed Vancouver Jun 471 442% 4S7 Sep 476 447 472M- Nov 571 444 471 Jan 464 434 464 Rapeseed Thunder Bay Jly 474 448 473% Oct 460 Nov 440 Dec Oats Jly Oct 132% Dec Barley Jly 205% Oct 1M% Dec 192 Rye Jly 194% Oct 199 Dec 197% 434 427 129 128% 199% 193 185 189 188% 440 406 131% 131 129% 203V4 1941s 19174 193 194 192 Dollar Value MONTREAL (CP) -U.S. dollar in terms of Canadian funds at noon today was down 1-50 at 21-25. Pound ster- ling up 9-50 at 47-50. In New York, the Canadian dollar was up 1-50 at 4-25. Pound storing up 23-100 at 7-20. Dividends By THE CANADIAN PRESS Alberta Natural Gas Co., 25 cents, June 30, record June 15. Bygone days David Mills checks over articles from bygone days at a nostalgia factory opened in Montreal. Prices range from an original 1936 Olympics' poster for to one advertisement for cigars (which at time sold two for five cents) going for Livestock Calgary livestock CALGARY (CP) Receipts to 11 a.m. from the Calgary Public Stockyards showed sales of head, mixed grades of heifers and cows. Trade was active. Slaughter steers sold steady, sales to Heifers were in short supply, selling fully steady to strong. One package of outstanding cross-breed heif- err, averaging 863 pounds, sold at Cows met a good de- msnd, at strong prices, with sales of heifery kinds to Bulls were steady. Steers, Al, A2: 45.50 to 46.70. A3: 45.25. Heifers, Al, A2: 4L50 to 42.85. A3: 40.50 to 41.25. Cows, Dl, D2: 35 to 36.70. D3: 33 to 35. D4: 29 to 32.50. Bulls, good: 38 to 41. Replacement cattle were mostly shortkeep steers and heifers selling steady. No stock calves were offer- ed. Good feeder steers more than 750 pounds: 44 to 48; 576 to 750 pounds: 47 to 51. Good feeder heifers more than 600 pounds: 38 to 44.75. Hogs: 42.95. Mussolini son thinks father misunderstood LONDON (AP) Vittorio MNssolini, eldest son of Italy's duce Benito Mussolini, thinks his father was a misunderstood man. Vittorio, 56, is in London for publication this week of his book, Mussolini, the Tragic Women in His Life. The women, he explained, are Rachele, the duce's wife, Edda Ciano, his daughter, and Clara Petacci, his mistress who was killed with him by Italian resistance fighters. "My father was not like Hit- Vittorio told a reporter. "They were two different kinds of people. One example is that there were no concentration camps in Italy. "To me, it is a mistake to think that the political life of my father began only when he made the alliance with Hitler. For 20 years before that he did many good things for Italy." Mussolini has lived in Argen- tina since the end of the Second World War. He is correspondent there of a Roma newspaper. JD atcttron d stems 1003 4th Avenue S., Telephone 328-4426 cJData rocessmg ervices OTTAWA (CP) Indecision on whether to build a natural gas pipeline along the Mack- enzie River valley could cost Canada hundreds of millions of dollars in high-risk exploration investment, the Commons re- sources committee was told yesterday. John Helliwell, a University of British Columbia economics professor, said a study has shown development of any ma- jor northern resources should Oil tanker restrictions under study MONTREAL (CP) The fed- eral government is considering legislation to restrict giant oil tankers to a limited number of Canadian ports, the Inter- national Association for Pollu- tion Control (IAPC) was told yesterday. Dr. Pierre Camu, head of the maritime section of the federal department of transport, said legislation may be necessary because of the "relatively large number" of potential deepwater ports in Canada. "We are presently examining our oil port development plans with a view to restricting the movement of giant oil tankers to a limited number of port lo- cations where the physical con- ditions are safest from a na- vigational Dr. Camu told the 300 delegates to the lAPC's third annual con- vention. He did not identify possible ports to be used for the super- tankers. Dr. Camu said supertankers are less likely to be involved in accidents leading to pollution than other tankers. Because of their size they make infrequent port calls and are restricted to using ports away from area of high traffic. Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board: Edmonton 42.90; average Wednesday 42.51. Red Deer 42.90; average Wednesday 42.61. Calgary 42.95; average Wed- nesday 43.03. Lethbridge no sales; average Wednesday 42.53. Lloydminster no sales; aver- age Wednesday 42.45. Grande Prairie, no sales; av- erage Wednesday 42.55. Total hogs sold to 11 a.m., 331. Total hogs sold Wednesday, Average, 42.66. Sows av- erage, 34.65. Gold futures WINNIPEG (CP) Gold fu- tures, U.S. Funds, Winnipeg Commodity Exchange close Wednesday. Jly 73 119.20A; Get 73 123.20A; Jan 74 126.20A; Apr 74 _ 130.40A; Jly 74 135.00A. "Tuesday's volume: 195 con- tracts. IDB APPOINTMENT J. E. Evans The Industrial Development Bank announces the appoint- ment of J. E. Evans as Man- ager of its office in Leth- bridge, succeeding T. F. Ching who has been appointed Man- ager of the Kelowna office of the bank. Prior to this appointment, Mr. Evans was Assistant Manager of the Lethbridge office. A subsidiary of the Bank of Canada, IDB provides term financing to businesses which are unable to obtain such financial assistance else- where on reasonable terms and be carried out only after haustive analysis of all its as- pects. But, he said, while the time should be taken to examine all the alternatives to Arctic gas exploitation, there is a danger investors, mainly from the U.S., will shy away rather than wait 10 or 15 years for Canada to de- cide. Timing was important If eco- nomic disturbances were to be avoided. He said the projected eco- nomic benefits to Canadians from development of Mackenzie River delta gas, under existing contract prices and tax laws, are small in size and relation to the benefits accruing to U.S. buyers. Among the alternatives con- sidered by Dr. HelliwelTs study group, paid for by his univer- sity and by the Canada Council, is delay of development and re- duced gas exports. "Only by a comparison be- tween the present plan for 1970s development and the later al- ternatives can a sensible deci- sion be made. "It may turn out that even with price and tax changes to increase Canadian benefits, im- mediate development of Arctic gas will be inferior to some of the plans for later develop- ment." STALL DEVELOPMENT? Under questioning by T. C. Douglas ichan-The Dr. Helli- well said there is likely enough gas south of the Arctic Circle to forestall development of a Mackenzie Valley line. Ke agreed with a suggestion by Mr. Douglas that the main pressure for construction of the toe could come from the U.S. wanting a shipment route for gas from Prudhoe Bay on Alaska's north slope. He disagreed, however, with a suggestion by Victor Eailton that a continental energy policy might be one an- swer to the problem. FURADAN 4.8 Flowable from Chemagno Gives you broad-spectrum insect contra! that helps you make money. Kills aphids, flea beetles, leafhoppers and Colorado potato beetles. One application gives fast knockdown and quick clean-up plus residual activity for long-lasting control. When insects gang-up on your potato fields, call on the one insecticide that can take them all on... by itself: Chemagro FURADAN 4.8 Flowable Your supplier has it now. Order now, and have FURADAN on hand when you need it RESPONSEabllity to you and nature CHEMAGRO LIMITED 77 City Centre Driva Mississaugua, Ontario 73186 ;