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Lethbridge Herald, The (Newspaper) - June 8, 1970, Lethbridge, Alberta Monday, lam I, 1970 "'.II irTHUKIDQI HERALD J5 Toronto Market Moderately Higher TORONTO (CP) The To- ronto stock market was mixed to moderately higher in light mid-morning trading today. On index, industrials were un- changed at 152.93. Golds were up .59 to 144.27 and western oils .15 to 134.10. Base metals dropped .82 to 90.17. The market opened with a small loss but made fractional advances after the first hour of trading. Volume by 11 a.m. was shares, down from at the same time Friday. Losses outnumbered gains 99 to 73 with 114 issues unchanged. Largest advances were in chemical, food processing, con- struction and materials, oil re- fining and trust and loan issues. Declining sectors included communications, merchandis- ing, pipelines and steel. Among gaining slocks, Home B was up 1 to IB, Seaway Multi- corp M> to Wz, Aimco Indus- tries Vt to 13V2, and Home A Vs to 15. Among declining issues, Texas Gulf Sulphur was down to 17V4, Investors Overseas to Noranda to 26'A and New Quebec Raglan 1 to 15. MARKET LANGUISHES MONTREAL (CP) The Montreal stock market lan- guished early today following Friday's decline which inter- rupted a brief mid-week rally. Prices were fractionally mixed hi light trading. The Royal Bank, up VB to r e p o r t e d net earnings equal to 35.8 cents a share, up- 'from 30.6 cents in the corre- sponding period of 1969. Bank of Nova Scotia gained to 18% and the Commerce Vt to Chemcell, which has reduced its quarterly dividend to three cents from seven cents payable June 30, slipped to Trans Mountain Oil Pipe Line, steady at expects its June deliveries of crude oil to aver- age barrels a day, up from barrels a day in May and in June of last year. Weston advanced 1 to 2H4, In- dustrial Acceptance to 14V4, and Bombardier Vi to 13. IOS slipped 30 cents to 2.20. Among senior mines and oils, Hudson Bay Mining and Smelt- ing gained to Wk and Impe- rial Oil Vt to 16. Falconbridge fell 1 to 133, Shell Canada to 23% and Noranda to On index, industrials were up .08 to 153.18, utilities .05 to 133.27, the composite .06 to 149.23 and papers .14 to 86.67. Banks were off .10 to 166.70. Combined volume on the NEVER BEFORE TRUCKLOAD of Montreal and Canadian stock exchanges was shares at 11 a.m. compared with at the same time Friday. MARKET CLIMBS NEW YORK (AP) The stock market climbed higher early this afternoon after eras- ing small morning losses. Trad- ing remained slow. At noon the Dow Jones aver- age of 30 industrials was up 787 to 702.90, a 1.13-per-cent rise, after having been off more than two points earlier. Among Canadians on the NYSE, International Mckel was up Walker Gooderham and Canadian Pacific Granby Mining was down 'A, Mclntyre Porcupine and Hud- son Bay Mining "A. On the Amex, Canadian Jav- elin and Canadian Marconi were up Vt. Favorable Balance For Trade OTTAWA (CP) Canada's foreign trade registered an un- precedented favorable balance of seasonally ad- justed, in the first quarter of 1970, the Dominion Bureau of Statistics reported today. Exports to the United States declined by to However, the Euro- pean Common Market countries rose by to the United kingdom by and to other Commonwealth countries by Exports to Latin America rec- orded a increase and those to Japan an increase of Exports during the period to- talled and imports The favorable trade balance during April was highest monthly balance since the record balance of January. Merchandise exports for the month were an estimated and imports were The bureau of statistics re- ported that secondary manufac- tures, forest products and en- ergy materials were still the areas of greatest export strength in the first quarter' of 1970. However, it noted that exports of meat and dairy produce rose by and those of wheat and flour by some COLOR TV AT A SENSATIONAL SALE PRICE Thurs. thru Sat. June 11, 12 and 13 Perfect for palio, den, kitchen and bedroom. GRAIN IN TRADE 236 13th SI. N. Phono 328-2235 Main Street, Coalclalo Phono 345-3272 JOINS BENY'S SALES STAFF AlAN MELROSE Alan has lived most of his life in Ictbbridge, receiving his education here. He is an ardent golfer and curler being a mem- ber of the Henderson lake Golf Club and the Lethbridge Curling Club. He is also a member of Che Associated Canadian Travel- lers. Alan has had 5 years Sales experience and is well known fo many. He invites all fiis many friends and acquaintances to see him at Beny's for their every Tiotoring need. Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Trading was extremely light in all com- modities at the close of the Winnipeg Grain Exchange to- day with prices generally steady. Rapeseed showed some activ- ity near mid-session, but it fail- ed to continue. Deferred futures rallied on exporter, local and commission house buying, but this trade disappeared shortly after' mid-session. Flax had some exporter in- quiries at levels below the mar- ket. Oats and barley had only a light domestic shipper trade. Rye showed fractional strength on light trade of inter- month spreading and exporter buying. Export loadings of Canadian wheat Friday consisted of bushels to Russia, 816 to Britain, to Syria, to Germany, 40.091 to Peru and to Hong Kong. Friday's volume of trade in- cluded bushels of rape- seed, of flax and 000 of rye. Prices for Class two wheat for export to countries outside IGA: 1 Nor- 2 3 4 1 Durum 2 3 IGA prices: 1 Nor 2 3 4 1 Durum 2 3 LIVESTOCK Lerhbricfge livestock No Sale Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about 290 head, mostly slaughter cattle. Trade was moderately active. Slaughter steers and cows sold steady with last week's cjpse. Heifers were steady wit'i no strictly choice kinds on offer. There were no bulls on offer. Choice steers 30.75 to 31.40, good 29.75 to 30.75, medium 28 to 29.50; good to low-choice heifers 27 to 28, medium 26 to 27; good cows 21.75 to 22.50, medium 20.50 to 21.50, earners and cutters 18.50 to 21.25. Replacement cattle were scarce, selling at steady prices. Good feeder steers 30.50 to 35.50. There were no stock or slaughter calves on offer. Hogs f.o.b. Calgary to 11 a.m., base price 30.25 to 30.55, cur- rently 30.25. Famous Literature Writer Dies COVENTRY (AP) E. M. Forster, 90, the shy giant of English literature, died in his sleep early Sunday. Forster, who normally lived as an honorary fellow at King's College, Cambridge University, suffered a heart attack about two weeks ago and went to stay with friends here. fame came with the publication in 1924 of A Passage to India. The novel about the behavior of Britons in colonial India caused a storm at the time. It also examined relations be- tween Indians and Europeans and was regarded as one of (Sie first novels to come to grips with racial issues. Hog Prices EDMONTON (CP) Prices to II a.m. supplied by the Al- berta Hog Producers Marketing Board: Edmonton: Quoted 30.05. Sell- ing 30.05. Friday's average 30.84. Red Deer: Quoted 30.05 to 30.35. Selling 30.15. Friday's av- erage 30.38. Calgary: Quoted 30.25 to 30.55 Selling 30.25. Friday's av- erage 30.52. Lethbridgc: Quoted 30.20 to 30.25. .Selling 30.20. Friday's av- erage 30.15. Lloydir.inster: No sales. Fri- day's average 30.00. Grande Prairie: No sales. No sales Friday. Sows 21.99 at all points. Total hogs sold to 11 a.m. To- tal hogs sold Friday tn- crage 30.48. SERVICE STATION FRANCHISE AVAILABLE An opportunity to own your own business in the City of Lethbridge Applicants require Managaria) ability Approximately All repliei kept in stricl confidence WRITE BOX 37, LETHBRIDGE HERALD MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Dohcrty, Koadliause and McCuaig) a.m. Quotes) LAST BID OK SALE a.m. Quotes) Quoles) WESTERN OILS Almlnex Asmera Banff Can South Cdn Delhi Cdn Ex GBJ Cdn GrSgof Cdn Horticstd Cdn In Gas, Oil. Cdn Long Is Cdn Super Cen Del Chleftan Dynamic Pcfo French Pete Gt Plains..... Mill City New Cont..... Numac Permo....... Petrol Pinnacle Place Gas..... Ponder Ranger Scurry Rain Spooper TriatJ West Decalta 4.05 7.75 3.JO 3.10 3.35 7.40 6.40 .86 2175 9.10 1.15 5.20 IS. 1.15 .70 5.05 1.20 .48 7.25 16.00 1.35 3.35 3.90 MISCELLANEOUS INDUSTRIALS Atco Indust 8.75 Aquatalne 16-75 Brit Nfld -1.35 Cdn Hydro Car. 11.25 Cdn pac Inv Pfd 22.75 CPR Pfd 8.12V Cygnus A Cygnus B Cum Prop Gt Cdn Oil Sand Gt Cdn Oil S6-75 Home A....... 4.90 8.00 3.75 96.00 14.75 lfi.00 Home Pitlld 2.10 Hud Bay Co 12.25 Hud Bay Oil 35.00 Hud Day Oil Pfd 48.00 Hugh Russ Pfd. 18.87% Husky Oil Husky Oil War Inter Pro Pipe B.OO 3.00 7.50 In Utll Inter Steel Pipe Jefferson Lake. Joutel Kaiser Res L Onl Port Cem Mentor....... Ncwconex Pacific Peta Rank Org Shell Inv Shell Inv Pfd Shell In Wt5 Sicks Ranler West Cdn Seed Whitepass Yuk CALGARY Acroll Ana Pete Barons Oil Worth ConI Plains Pete West Warner Leduc Cal Madison Qumalta Rexdale PIPELINE STOCKS Alta Gas Tr A 38.00 Alta Gas Tr P 66.00 Alfa Gas Nat 19.99 Cdn West Mat Gas 14.00 Inland Nat Gas 9.00 North and Cent 11.12% North and Cent B 24.50 Gai Metro 3.7i Gaz Merto P A 57.00 Tr Cdn Pipe 25.50 Tr Cdn Pipe 2.80 36.00 Tr Cdn Pipe P A Tr Crfn Pipe War 7.15 Wustcoast Tr 15.25 Western Pacific 4.20 MUTUAL FUNDS A.G.F. Special 2.07 Al Cdn Com 6.05 6.61 All Cdn Div 7.04 7.70 All Cdn Ven Arner Gr F Cdn Gr Cdn In F Coll Mut Commonwealth 10.93 11.98 Com'weallh L 2.73 1.50 15.75 2.05 ,55 5.25 23.25 9.00 -1.00 2.35 16.00 'l.M .25 .50 .16 Corp In Dreyfus F U.S. Northwest Fin Northwest Gr Growth Equity In Growth In Mut ios Vcniurt Mut Ac F Mut Gr H Mut Income Nat Resources Prin Gr Regent Fund Royfund UnJIed Ac t.U 3.23 9.74 10.67 3.45 3.78 3.9? 5.31 5.84 2.72 2.98 9.49 4.59 5.02 2.98 3.2< 3.81 4.1' 3.81 4.26 4.57 3.63 7.11 4.57 4.07 4.47 VANCOUVER Anuk Arctic Mining Atlas Ex Beth Copper Bornite Rldgft Brenda Brenmac ____ Capt Inler S.BO Churchil Cop 3.50 Crestbrook For Ind 7.00 Croyden Dolly Varden Dynasty Endako Futurity Giant Mascot Granisle1 12.75 Key Industries .40 15.50 .39 8.75 .30 7.25 13.00 .25 3.05 3.33 3.42 4.17 J.64 4.71 5.18 3.89 4.27 5.01 5.50 ers B Hy'S Inter Brew Jericho Lyttin Madrona New Cronln Okanogan Hel T.C. Ex Texmont Trojan Western Mines Westcoast Res Western Ex Utica 1.75 2.50 4.00 7.10 1.72 .31 .09 2.B5 .40 .54 .65 .4.10 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada a.m. Quotes) LAST BID OR SALE a.m. Quores) a.m. Quotes) 1NDUSTR1 Abltlbl Alcan Atgoma Steel Atco Ind Allan Sugar Bell 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 Coin Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bath Cons Gas Dlst Sea Dom. Brldgs Domtar Dom Textile Dom Stores Dome Pele Fam Play Gt Cdn 01! Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie. Hiram WalK Imperial Oil imperial Tob Int Nickel Int Pipe Inv Gp A Int utilities Indust Accept Laurenttde Kelly Doug A Laeb........ Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molson's A IAL5 e.oo 21.50 12.00 8.25 Molsnn's B North Cent Pemblan Pp Power Corp Price Co Rolhmans Shell CDA 41.87% Simpson's 13.75 Simp Sears 55.62V: Steel of Can 7.62V3 Selkirk A 23.00 Texaco 17.37% Traders Gp A 2.85 Trans Mtn Pp 6.50 Trans Can Pp 5.50 Union Gas 5.00 Union Oil 20.15% Versatile Mfg 1.20 Westeel Union Car Wcston's 9 Woodward's A West Cdn 5d Zenith Elec BANKS 56.37% can Imperial 23.37% Montreal 13.50 fjova Scotia Royal Tor- Dom MINES Acms Advocate Asb. Akaitcho Area Mines Belcher Iron Black Bay 15.12% Bethlehem I-'O Brunswick 10.00 9.50 20.00 2.90 6.25 33.12' -13.50 .77E 39.25 19.00 6.50 22.62% 13.87% 3.75 5.50 4.65 6.37% 1B.OO 10.75 23.50 29.75 12.B7VJ conwest Cons .Rambler Coin Lake cochenour craigmont Dickenson Mine Denison Mines Deer Horn D'Eldona Dome Mines Donalda Discovery Mine East Malartlc East Sullivan 13.00 11.50 18.00 7.12% 9.00 9.00 23.62% 15.62% 19.62% 20.fiZ% 10.50 21.00 8.75 14.62% 25.50 12.75 30.25 3.00 9.50 11.50 21.25 15.00 1.40 19.62% 18.62% 21.00 1B.50 .09 1.SO .22 15.25 5.30 1.B5 IB. 50 2.35 1.30 9.05 .65 .14 .J0 11.50 1.63 25.00 .06 .68 J9.25 Falconbridgt Frobex First Maritime! Giant Y.K, Gortdrum Gunnar Granduc Headway R.L. Hollinger..... Hud. Bay M-S Hydra Ex..... Highland Bell Iron Bay..... ISO.......... Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leltch....... Langis Silver Macassa..... Madsen R.L. Malartic G.F. Martin McNeelV Maybrun Maclntyre Meta Midrim Intern Mogul New Athona New Calumet New Imperial Noranda Northgate Opemiska Osisko Patino Pine Point Placer Dev. P.C. Exp..... Quebec Man Rayrock..... Radiore Rio Algom Roman Corp. Silverfields Sherritt Gordon Silver Miller t Steep Rock Siscoe....... Tefc Corp..... Texmont..... Upper Canada Western Mines Wright Har. Willroy....... Windfall..... Yellowkntfe Br. Zen mac..... 133.00 .28 1.25 7.90 3. BO 1.30 7.10 10.00 26.75 22.37% .22 2.70 2.50 1.J6 .23% .39% 27.00 3.25 1.60 .07 1.31 .91 .83 14.50 .21 160.00 .1? .35 J.70 .18 .23 2.01 26.50 12.25 .30 33.50 29.75 29.50 .67 .20 1.22 .32 16.25 4.75 2.10 17.50 .03 3.20 2.00 5.75 .53 1.53 4.05 1.65 1.40 .12% 4.75 .10% NEW YORK STOCKS Supplied by Richardson, Securities of Canada NEW YORK STOCKS Mont Ward ......44.50 20 Golds 14157 up Amr T and T ..43.75 soars 59.12'AIO Base AMals 50.76 off .1 Anaconda 25.12'A Sid. Oil ol N.J. 55.00 15 West Oils 13S.07 up 11! BIh Sfeel 2350 Texas Gulf "S wXorS; S AVERAGE. DuDont .........112.621'j West Eler. 30 Industrial 705.98 UIJ Gen Motors W.87V] U.S. Steel 32.97K20 Rails 143.60 up 1.39 TORONTO AVERTS g EJSffif Kenn Copper 45.12MO Indust 705.98 up 10.95Volume Censors Bail Canadian Film SYDNEY, Australia (Reu- ters) The Australian Commonwealth Film Cen- sorship Board today banned a Canadian film from the Sydney Film Festival. The film is A Married Couple wliich deals with a Toronto couple's marriage. Customs minister Donald Chipp today rejected ap- peals by the festival organ- izers against the ban on the entry of the film into Aus- tralia. David Stratton, festival director, said he understood it was rejected solely be- cause of strong language. STORE FOR RENT GOOD LOCATION ON Sth STREET SOUTH Suitable for shoa itora or ladies' wear store APPLYi Stan's Men's Wear 321 Sth SI. S. 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 ITD. 709 8th Ave. S.W., CAIGARY, Alberto. 263-5683 (403) Business Can't Accept Hefty Wage Increases By IRVING C. WHYNOT Canadian Press Business Editor MONTREAL (CP) Retiring president. L. F. Wills told OK Canadian Manufacturers' Asso- ciation today that the squeeze on corporate profits means that business can no longer accept hefty wage increases such as those of the late 19COs. Mr. Wills, chief executive offi- cer of Honeywell Controls Ltd., Scarborough, Ont., said that "government and lalwr, no less than management, will have to note the downward trend of cor- porate profits." "The last quarter of 1969 was the first time since the reces- sion days of 1960 that profits fell in this normally most-buoyant quarter of any he told opening business sessions of the association's 99th annual con- vention. "The first quarter of the current year abo makes for distressing news." The convention opened in what an association newsletter termed a "serious mood." "The combination of soaring costs, falling profits, dear credit and softening markets makes for an unpalatable short-term the newsletter said. STILL CONFIDENT "The confidence of manufac- turers in Canada's long-term outlook, however, remains un- dimmed." J. C. Whitelaw, general mana- told today's session that business would have to continue emphasis on efficient production and marketing, but would have to maintain "an interest in these broader questions of con- cern to society." Mr. Wills, in his presidential report, said "it's getting nearly as hard for business to earn a dollar as to keep it." "In' these circumstances, there can no longer be any question of manufacturing com- panies generally being able to agree to the kind of wage settle- ments which have been the fashion in the second half of the '60s." He said labor could be ex- pected to apply as much pres- sure as ever "but the difference now is that their efforts will be far more likely to result in lay- offs, short time and fewer jobs than in the past." 'We're in a situation where the Canadian consumer is no- ticeably less willing and able to pay the cost of these settle- ments and management, at least, realizes it." Mr. Wills said he is not trying to "Iriy all the blame for infia- tion at labor's door." "But it would be equally wrong to minimize the chain-re- acting consequences of the many unreasonable settlements forced on industries by unionists who, in many cases, were al- ready among the b e s t -p a i d members of the labor force." Mr. Wills said industry had agreed to the voluntary price re- straining program of the prices and incomes commission and resisted the temptation to with- draw its support "in the wake of organized labor's resounding negation of any thought of vol- untary moderation of wage de- mands." He said it was discouraging that these voluntary restraints by industry, which amounted to a "voluntary reduction of accomplished so little in slowing rising prices. Oil Spilled Into River FORT McMURRAY (CP) Officials of Great Canadian Oil Sands Ltd. today were to begin assessing damage caused by a break in an oil pipeline Satur- day night. The line split just south of the company's synthetic crude oil plant near here and spill- ed an undetermined amount of oil into the Athabasca River. Crews worked all day Sunday spreading straw onto oil in the river which flows north into Lake Athabasca. Len Bland, public relations officer for the company, said Sunday the river flows fast at the point where the oil entered and there are no major settle- ments to the north. "Not very much went into the said Mr. Bland, but the company would have a more exact idea by today. He said the split in the pipe- line, which carries bar- rels a day, was about two-feet long and within 15 minutes of the break crews were able to construct a drainage ditch to divert the oil from the river. "We recognize that It Is ta our own interests as well as tho country's that we do everything we can to hold down thai means that costs, essen- tially labor costs, must be con- tained and that is not within tho powers of a one-sided arrange- ment." Mr. Wills said there waj no justification for business to refuse demands for higher wages and better benefits, "which are demonstrably re- lated to productivity improve- ment." Mr. Whitelaw said business would have to try even harder to understand youth. "The current upheaval and expressions of dissatisfaction with the status quo are not to be ignored, nor the- restless chal- lenge of 'youth power' tightly he said. "Industry is particular must seek to prevent the alienation of young Canadians whose future careers must, in many cases, be within industrial management." Tile association's conference opened Sunday with social events. In business sessions Monday and Tuesday, delegates were to discuss a wide range of topics including world trade, en- vironmental control, and trans- portation advances. The association has about members in six divisions across the country. The annual convention is often called the Parliament of Industry. New Caps For Beer PRINCE GEORGE Ring-pull caps that do away with the need for a bottle 'open- er will be introduced today on all brands of bottled beer pro- duced by Tartan Breweries, owner Ben Ginter announced Saturday. "We completed installation of the equipment Mr. Gin- ter said. "This is a first in Can- ada for easy-opening beer bot- tles." Mr. Ginter also announced that the production capacity of his main brewery in this cen- tral British Columbia city is being doubled, to bar- rels a year from bar- rels. SPECIAL PRICES ON PATIO SUPPLIES PATIO BLOCKS 6 colors. Each SIDEWALK BLOCKS 2i25 Slcidproof finish. Each FILON CORRUGATED FIBREGLAS PANELS White-Yellow-Mint SALE PRICE ONLY Per Panel SAIE PRICE ONLY Per Panel SALE PRICE ONLY Per Panel 8J9 1079 PICNIC TABLES 6 ft. long 2" heavy duty construction Steel reinforced legs Folding (eati Ready to paint or slain Each 17 DECORATIVE SCREEN BLOCKS 8x12x12 Filigme Pattern. Each ROUND PATIO TABLES 34" diameter. Made from clear western Red Cedar. 21" high. Ready to paint, .lain or varniih. Each 13 FAN TRELLIS 6' HIGH Made from clear pine. Each SUN SHADE CORRUGATED PLASTIC PANELS ,1 colon: Patio White, Sunlight Yellow, Surf Green. 1 O CO SPECIAL, EACH I .33SPECIAL, EACH C.OJJ Open a Crestline Budget Account CRESTLINE BUILDERS MARKET LTD. 'LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or ;