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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 13, 1973, Lethbridge, Alberta THE IETHBR1DCE HERALD Wednesday, June 13, 1973 Market prices sharply higher TORONTO (CP) Prices on the Toronto stock market moved sharply higher in moder- ate mid-morning trading today. The industrial index consid- ered the major indicator of market trend, rese 1.21 to 213.06, golds .34 to 285.97, base metals .99 to 100.87 and western oils 2.03 to 221.44. Volume by 11 a.m. was 000 shares compared with 000 at the same time Tuesday. Advances more than doubled declines, T32 to 67, while 161 is- sues were unchanged. Oil refining, steel, utility and industrial mining stocks were among sectors of the market recording gains while chemical, construction and material, food processing and pipeline stocks were lower. Hudson's Bay Oil and Gas rose 3i TO Canadian Tire A Bow Valley 5s to S29'i. Shell s's to Al- can to Q Broadcasting A gained i'z to Anglo-Canadian Pulp to Algoma Steel to S173'j and Consumers Gas 1 to Placer was up to Pine Point Mr to Roman Corp. 30 cents to S7.60, Gibral- tar V4 to S13 and Sherritt Gor- don i4 to SIG's. Ranger climbed MJ to Nu- mac Ji to S16, Canada North- west 20 cents to S7.35, Slebens Vs to and Pan Ocean to On the Montreal Stock Ex- change. Labatt rose 1% to Cominco 3i to Do- fasco 3i to and Gulf Oil to On the Canadian Stock Ex- change. Royal Agassiz was un- changed at 93 cents on shares. NEW YORK (AP) Stock market prices barely moved to- day despite a House an- nouncement that President Nixon would deliver a nation- wide television speech on the economy tonight. The Dow average of 30 industrials, which had risen more than four points in the first half hour, was up only .33 to 927.33 at noon. Among Canadian issues listed j on the New York Stock Ex- change, Alcan was up to j Dcme Mines to i, i Granby Mining 1 to and i j Hudson Bay Mining ]s to Canadian Pacific lost 3s to Massey-Ferguson ]s to, and Walkers to Near completion Value Village Markets Ltd. will soon be re-opening for business in rencvated premises -at 6th Ave. and 13th St. S. Completion of the interior of 'the building, destroyed by fire in February, now is progressing rapidly. The build- ing house a meat market, bakery, grccery store end other facilities. MONTREAL (CP) All sec- tors advanced 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 359.600 shares, compared with shares at the same time Tues- day. Industrials were up 1.83 to 233.73, the composite 1.39 to 220.38. papers .53 to 119.36, utili- ties .28 to 151.75 and banks .27 to 257.22. Livestock repor Calgary livestock CALGARY (CP) Receipts to 11 a.m. today from the Cal- gary public stockyards show Sales of head, mostly slaughter steers and cows. Trade was moderately active on steers and heifers and ac- tive on cows. Slaughter steers sold barely steady to 25 cents lower. Heif- ers were scarce and sold 25 i cents lower. Cows were mostly lower grade with all grades firm. Bulls sold steady. Steers Al and 2 44.75 to 45.70, A3 44 to 44.75. Heifers Al and 2 41.75 to 42.50, A3 40.50 to 41.50. Cows Dl and 2 35.50 to 37, D3 33 to 35, D4 29 to 32.50. Good bulls 38 to 41. Replacement cattle were short keep steers and yearling heifers meeting good demand at steady prices. Stock calves on_ offer were practically all faejfer calves weighing more than 400 pounds and selling strong. Good feeder steers more than 800 pounds 43 to 46.50, Good feeder heifers more than 600 pounds 40 to 43.80. Good stock heifer calves more than 400 pounds 47 to 50.50. Hogs 43.65. A few lambs sold steady Tuesday with good lambs selling at 38. registered sales hike EDMONTON (CP) Improv- ed sales were registered by most Alberta industry sectors in 1972, says the annual review of business conditions issued by the Alberta department of in- dustry and commerce. Dollar volumes of manufac- turing, mining and retail stores' sales each rose by almcst million. A preliminary estimate plac- ed the construction industry volume increase at million with the final figure expected to be considerably higher, while farmers' cash receipts are esti- mated to be more than million higher. Higher prices per unit and inflationary factors played a large role in the increases. For example, the physical volume cf lumber sales increased by six per cent while the dollar value rose 36 per cent. The review terms the pros- pects for Alberta's economy in 1973 as encouraging. An in- crease in manufacturing plants and maintenance of high sales volume in ether sectors of the economy indicate another fav- orable year. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dolierty, McCuaig Limited) LAST BID OR SALE (11 a.m. Quotes) (11 a.m. Quotes) (11 a.m. Quotes) WESTERN OILS AND MINES Albany Alta East Gas Alminex Asamcra Ashland BP Can Brsnda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oi! Cdn Long Is Cdn Super Charter Oils Chieftan Dome Pete Dynasty Fcrt Reliance Giant Masco! Gramsle Gt Pl-ims Gt CdT Oil S Lcchiel Lytton Wm Nob'e Wines North Cdn Oils Cygnus A CyqnLS B 1 18 Falcon Ccope1- 7 90 F end M Trust 6.40 Gcnstar 9 65 Home A 11.37V; Home 8 1600 Hud Bay CD Hud Bay Oil Hud Bay A Pfd Hugh Rjsscll Oil B P'd husky D Husky E Hys o! Canada Inter Pipe Inter Prov Steel Kaiser Res Loclsw C Pfd A'eqnaSoniCS Pacif.c Pete P v A r Pe-Bcn Oil'ieid Paimer Inc Royal Trust St Maurice Cap Sandwcll 775 775 13.CO 6.CO 1625 -.1 50 2800 VANCOUVER MINES Afton Atlas Explcr Norse Croydc-n Drnkoe 18 87'; Davenport 575 .'.05 3 30 670 7.25 .20 4775 1 CD 1050 3325 9 10 27 796 E CO 27 50 8.50 2 02 1 55 1 10 675 15.75 13 75 V.62' 1 12 50 52 00 21 87' Do'ly Vardei EquitoriDl R; Lornex P-.rrc- Pancdn Pete Pan Ocean Petrol Pinnacle Place G33 Pondc- Rangar Scurry Rain Seibens Scocrer Total Pete Ulster West Pete W. Dscalta MISCELLANEOUS INDUSTRIES Seed Acres Ltd Aguitaine BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrock Ind Crowsnest Ind Went Cdn Weslfcld Wm V.cslon A Pfd .22'2 vvhita YL' ;.i .60 PIPE LINE :3 Alta Gas M 31 c2'2 Alta Gas Pfd 16 5 ftal Gas 11 62'2 Nat Gas N and C Gas N and C B Ptd Pacific Trans Gaz Gaz Metro A Trans Can Pipe Tr Can A P'd Tr Can B Pfd Tr Can War WC Trans WC Trans War CALGARY Acroll Barcns Oil North Cent 7 35 355 60 9 "5 1275 3 OQ 2? 50 10 2? 27" 75 6 62' 2 4 37' 24 00 92 3.55 4 10 5 1 16 6110 U 50 STOCKS 1J.51 72 12 19 "5 1050 Silver Stan Copper 7.75 .5J .17 looo .13 .11 8-1 9.75 INDUSTRIALS Col Brew Indust Warda r O PRP Eob Plains Res MUTUAL A'l Cdn Corn All Cdn DIVI All Cdn Vent Amjr Gr Fd AGF Spec Inv Fd Col Mutual Co-nm Inter Cjnim Lever 7.EO 8 35 368 5.ES 7 15 1 00 5 75 5.10 1.1 00 Jl 75 1500 2 70 2475 2003 2700 7.50 21 00 65 CO 34.50 65 00 4025 6 75 17.C3 270 West Warner Ccrp Ccrp Inv SI Fd D-ey Fd U S. Gr Pacif.c Gr In Slares Gr Equity Inv Gr Fd Iny Mutual Mut Accum Mut Gr Fd Nat Res N W Cdn N W. Growth Prm Gro.vfh Rcyfund if Temp Growth '4 Un Accum 01V2 Univ Savings 37 Vanguard 2.75 .25 225 1.36 .22 1 00 1.23 FUNDS 7.14 7.64 3.55 5.35 260 5.05 5.53 5.55 o 10 14.90 16.37 374 416 7.13 781 6.10 669 4 94 5 43 11.19 12.26 4.53 4 93 3 98 7.70 8 46 1214 13.27 5.73 6 n i.90 352 7.66 5 '-9 4.81? 425 <5.57 8.54 5.05 unchanged 6 367 8 !2 603 526 4 67 6 31 0.33 i55 Winnipeg grain WINNIPEG (CP) Rape- seed prices were higher but all other grains were mixed or low- er in moderate trade at mid- session today on the Winnipeg Commodity Exchange. Rapeseed advances ranged from 11 cents to the 20-cent limit, witn Vancouver contracts making the biggest gains. Flax prices were in most months Oats were mixed and changes were fractional. Barley was a cent cr norc lower, while loss- es in rye were close to three cents. Tuesday's volume of trade was bushels of flax, of rye and of rapesecd. Mid-session prices: Flax: July unchanged 6.46B; Oct. 3 higher 6.09; Nov. un- changed 5.87B; Dec. unchanged 5.58B. Rapeseed Vancouver; June 20 higher 5.28 A; Sept. 19 3i higher 5.25U2: Nov 16U higher Jan. 20 higher 5.10B. Rapeseed Thunder Bay: July 12 higher 5.14B; Oct. 14 higher 5.02B; Nov. 11 higher 4.80B; Dec. 20 higher 4.55B. Oats: July higher Oct. lower Dec. lower 1.30A. Barley: July IVz lower ijA; Oct. 2 lower 1.96A; Dec. 1 lower 1.94B. Rye: July 278 Oct. 2% lower Dec. 2% Icwer MORE Grain quotes Tuesday (basis Low Minims reserves can meet MONT GABRIEL, Que. (CP) estimated mineral reserves would be sufficient to meet domestic needs "far into the future" if all export stopped, Energy Minister Don- ald Macdonald told the annual meeting of 'the Quebec Metal Mining Association. However, "should exports be! discouraged, there would be j little incentive to continue ex-, ploration for many years.'' I High Flax Jly 646 Oct 600 Nov 587 Dec 553 639 596 584-; 550 Rapeseed Vancouver Jun 508 SQlVz Ncv Jan 5051 499 490 496 487 483 Close 646 608 587 558 508 5031i 489 490 Ontario may reconsider wine tax TORONTO (CP) Following price increases on 40 French wines Monday, John Clement, consumer and commercirl rs'a- tions minister, said that the Li- quor Control Board of Ontario (LCBO) may reconsider its wine taxation. In an interview Monday. Mr. Clement said the fiat rate of 109-per-cent tax put on foreign wines and 69 per cent on do- mestic brands may be de- creased. The minister stressed that the price increases, ranging from eight to more than 65 per cent. had been caused by a general world shortage of He said the French exporters 2.05 had said: "Charge this amount. period." Mr. Clement added that the LCBO has in no way ''bonefit- ted from the price increases.' The new mark-ups apply to 21 French red wines, nine whites. one rose, two champagnes and four other sparkling wines. There 'ie no increases 01 15 other brands of European v.ino. brandy, liqueurs and beer. Rapeseed Thunder Bay 502 488 Jly Oct Nov Dec Oats Jly 135 Oct 1341, Dec Barley Jly 204'i Oct Dec Fje Jiy Oct 500 485 200 198 201 202 Dec 209-s 207 195V2 195 195 197 502 488 469 435 133 204 193 195 196 1987s 193 Hog prices EDMONTON (CP) _ Aver- age prices to II a.m. today pro- vided by the Alberta Hog pro- ducers Marketing Board. Edmonton: 43.75, average Tuesday 44.57. Calgary: 43.65. Average 43.80. Lethbridge: No sales. Aver- age Tuesday 43.81. Total hogs sold to 11 a.m. 403. Total hogs sold Av- erage 44.20. Sows average 435. CSE first to receive recognition CALGARY (CP; The Cal- gary Stock Exchange has be- come the first, outside of the Toronto Stock Exchange, to be recognized by the Ontario Se- curities Commission. J. R. Thompson, executive manager of the Calgary ex- change, said effective today all trade on the Calgary ex- change was processed, clear- ed and settled through Toronto exchange facilities. The new system makes it pos- sible for any company across Canada listed on the Calgary exchange to offer primary shares by a statement of ma- terial facts, he said. This elimi- nated the need for companies, especially small ones, to obtain a costly prospectus and estab- lish local clearing systems. Under the system, the rules and regulations of the Calgary exchange are identical to those of the Toronto exchange. Toronto industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE Gou't plans to i 'investor needs (II a.m. Quotes) (11 a m. Quotes) m. Quotes) Beef futures WINNIPEG (CP) Live beef futures close Tuesday. Jly 45.75A; Sep 45.70N; Nov 15.50A; Jan 45.10B. Monday's volume: 23 con- i tracb. 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 to own this type of property and lease it back to us? Apply To BOX 125, LETHERIDGE HERALD MIMES Acme Advocate Asb Aksitcho Aldona Bralorna Broulan Bethlehem Bovis Brunswick Can. N.W. Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Ccchenour Craigmont D.cken'jOn Wines Deniscn M.nes Deer Horn D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger Hudson Bay M-S Hydra Ex. Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Lanais Silver Madsen R L. Malartic G.F. Martin Maclntyre Meta Midrim Intern Moqu! Nu West Homes New Athona New Calumet Noranda Norlhqate Norlex Osisko Pine Point Placer Dev. Pax Exp Quetec Man Rcyock P.sdicrs RID r frrp Ehsrriit Gordon Steep Reck. Tek Ccro. Upper Canada Western Mines W. House Copper Wright .12 1 20 38 2 20 T K< 1 10 7 35 1 61 10 75 1 15 1 31 625 35S 31 1 18 6 3 90 CO Al.itibi .05 Alcan '3 9? CD 1 ?1 350 1 6D 72 50 .23 27.75 29 CO 275 12 1 ?8 29 11 75 7 50 V SO 1 5! 4 '0 72 2 90 2.M 3C3 Hargreaves 1.10 1 03 .1 Yellovvl.nife Bear 3 Zer.mac .13'' INDUSTRIALS 10 62' 30 121 Algoma Steel Atco Ind Atlsitic Sugar Aqra Ind Bell Tel Brazil Trac B C. Tel Burns 7 M B C. Forc-st 3 50 B.C. Suaar 4! 62vi Bow Val Ind 2350 CAE Ind Crt Cdn Oil Gen Motors C-rt Lakes PR Gulf Oil Cda Greyhound hawker Sid Hur Erie Hiram Walker Imp Oil Imasca Inl N'ckel Int Pipe Inv Gro A Int Uiil Ind Accepl Kacs Lai rcitide Kally Dcjg A LcLls.v A A'< I Stcrcb MaSvey Fern M.c.VilIrn Bice Cofp A ens B 32 Cdn Brew 3 70 Chemcell 1 06 Col Cell 21 Calqary 11 75 Coron Credit .32 Vi C.W.N. Gas Ptd 4250 Cdn Ind 3.05 Cdn Marconi .06 Cdn Vickers 1.16 Chrysler 1.05 C P.P. 39 Comirro 55 00 Cons Bath .12 Cons Gns .14 Dist Seaqrams Dom Bridge S Dorntar .1ft Dom Textile 261'? Dom Stores 50.75 Demo Pete 5 55 Dofasco 79 .23 Glcndale 1750 11.CO 6 tV 2 t, 9.75 N.-ichurs, 42 Nt't'i a Cent 20 00 Corp pf '5 Co 16 "5 Rothmans 16 ST Law Corp 1987'.- Shell CDA 28 37', Sirrnscn's 10 12'2 Simp Sears 50 Stool cf Cda '..10 Sdk.rk A 3 90 Texaco 7? 01 Traders Grp 1 60 i rans M'n Po 11.01 Trans Cda Pp 14 87' 2 Union 375 Union Oil 11 25 Uniled Srcoo 37' 2 Versatile A.'i'g 17.75 Westeel 29 3 Union Carb 21.87'i vision's B U 62''2 Woodward's A T9 25 3' C0 2075 C.OO 1.125 31 CO 27. JO 14 50 Seed Zenith Elec BANKS Cdn Imp Montreal Nova Scotia Royil 2 Tcr-Dom 845 A3 00 21 50 34.25 19 25 4 10 28 5750 39.75 30 50 2900 24 75 9.00 2475 17 12'2 11 625 675 90 20 ?o 19.62V2 COCO 50 00 2675 K 50 7.75 10 12'; 11 T" j. U W 2 11 25 19 75 18 75 13.00 31 v. (n n 20 5T 11.25 1--.50 670 6 70 T. C1 1500 20.371-! 2525 S JO 250 51 31 87'2 aid co-ops LONDON, Ont. (CP) Fed- eral Agriculture Minister Eu- gene Whelan said here the government will create a spe- cial agency by June 30 to deal with economic problems of co- operative farming. lie sad the agency will be a section of the economic branch of the department cf agriculture and will be responsible for eco- nomic research and inter- governmental co-ordination. "It will try to establish some form of liaison with the provin- cial governments which jurisdiction over co-operatives.'' he said, following an address to the Rotary Club. Mr. Whelan, who said he fa- vors the co-operative approach, said only about one per cent of Canadian farming is on a co-on- erative, or joint ownership basis but as much as 70 per cent cf farm services are owned co-op- eratively, including grain eleva- tors and food and seed supply houses. Canada is not entirely self- sufficient in minerals, he said. "For example, we have no existing production of mang- anese, chromium, phosphate or aluminum ores because we do not pcsscss economically viable depcslls of these important ores.'' Atlhough Canada has ade- quate reserves to meet domes- tic needs in most areas, "new reserves, which are a working inventory, are forthcoming only if markets are available and, generally, only t the extent of meeting projected withdrawal rates for, at best, a few dec- ades. iUUST EXPAND Eence, if there is still to be a healthy Canadian min- supply system by the year 20CO, the resource adequacy out- look at that time should be at lecst as reassuring as it is now. Tils means that reserves must not only be maintained but also expanded. We cannot afford to live cff our present reserves with no thought for the more re- mota future, unless we are pre- pared to let Canada's com- pr. -alive ad''antrage in the geos- ciences and mineral technology wither.'' Ks urged more exploration and development because, al- though Canada plays a "signifi- cant'' role in world mineral markets, its large and diver- sified mineral deposits do not have a monopoly on world min- cirl markets. "In t'r'e past two decades, the world's mineral supply base has broadened considerably and more nations now than in the past produce a variety of min- erals that compete with Cana- dian minerals in international nicvkels." For example, he said, nickel prcducf-cn decreased to 40 per cf world production from C.) per cent in 1950 and in- dications are it might be down to CO per cent by 2000. Likewise, I asbestos declined to 43 per cent from fi3 in the same period al- though production can be ex- pected now to rise at an annual average rate of three per cent. "For copper, lead, zinc, iron and potash, which, together 1 with r.ckcl and asbestos ac- count for about 75 per cent of total Canadian ore output, Can- ada's position should remain the same with average nnual growth rates of from t v o per cent to four per cent. How ever, potash output may in- cicase at about six per cent a i year Macdonald said statistics suggest Canada's mineral out- put will triple by the end "of the i century and, while domestic i consumption will about double, exports may be up by more 350 per cent. A text cf his remarks were released in advance of delivery. co a bank new New York stocks (Supplied By Richardson Securities of Canada) Amr T and T 51 87' 2 Sears V9 25 Anaconda 20.12'2X-Ron 97 Beth Steel j Texas Gu 2275 Chrysler 2', Texos Co 36 II 50 WicK 111 Dupont Gen Motors 68.50 Wc'.t Flrr 15 ?i Gulf 23 U S Slfl :t "1 i Int Harvester 29 CO TORONTO AVERAGES Kenn Copper 25.50 20 Ind 2131! up 1.29 Mont Ward 20 Golds 286.00 up .43 10 Bise Met 10041 up .53 15 West Oils 221.34 up 1 93 Volume NEW YORK AVERAGES 50 Ind 926 09 off .60 20 167 94 up 1 W 15 Ut.l 10790 up 16 65 Stocks 281.58 up .72 volume TORONTO (CP) High-qual- ity growth stocks should be the basts of a well-planned port- folio, most analysts say, but in- vestors may find this easier said than done. i High-quality stocks are usu- ally expensive in market terms, and the investor may hesitate to buy because hs is short ot cash or indecisive. Canadian Business Service says th3 answer for Uiis type of investor may be dollar aver- aging, the systematic investing of identical sums at regular in- tervals. Dollar averaging requires a strong will. An investor must make a plan and stick with it through good times and bad, unless he truly believes he made a mistake. The CBS says: "Don't allow your in vestment judgment to be swayed by emo- tions. Don't lose sight cf your objective when the market is under selling pressure (as it is And above all never, never act on so-called hot tips." The initial decision is to de- cide how much and how often lo invest. To simplify bookkeeping, Canadian Business Service sug- gests a separate bank account for regular deposits, perhaps weekly cr monthly. FAVORS GROWTH STOCKS The best s'ccks for dollar av- eraging are high quality growth stocks which usually foil at high multiples of earnings. "These nearly always look too expensive to buy, yet in the long run steady accumulation of these shares invariably pays Canadian Business Service says. When the price of the selected stock is high, fewer shares will be bought, but Jl goes down, the investor's money will buy more. "Your average cost price will be lower than if you had in- vested the same amount in the stock r.i, its average price on those dates ever the years." An investor, naturally, cannot expect the best possible por- tfolo performance with dollar averaging because market con- ditions are ignored and the pur- chase schedule is fixed. "However, if you pick high quality growth stocks you min- imize risk and achieve truly worthwhile capital appreciation over a reasonable period of time SPACE INVESTMENT More frequent investment, such as quarterly or semi-an- nually. would take advantage of market declines, but Ca- nadian Business Service says if cash is limited it is wiser to space investment so as to have ?500 to available. Canadian Business Service lists four example stocks which have the necessary character- istics for dollar averaging. Investment of for the last five years, with the last 000 invested only four months, has yielded for the following stocks: Moore Corp., a market value of and net capital gain of Thomson News- papers, market value of and net capital gain of Canadian Tire A, an original in- vestment worth and In- ternational Utilities, present worth of including capi- tal appreciation of Belter returns from rapeseed CALGARY l CD and rapcseed produce be-lei- dollar returns per acre in Al- berta than bailey, an Alberta Wheat Poo! report pays. Statistics gathered by v.hfat pool agrologisls, A. W. Bcaltie and Bruno Friesen, over a sev- en year period up to 1S72 show a greater cash return from wheat in 15 crop districts. In six other districts, rapcscc'i provided the best cash retun. The average realized p. ice for export wheat was a bushel, feed grades end rapeseed while malting barley brought S2 ccn'.s and feed barley 79 cents. The agrciogists said the fact a large portion of the barley crop is not handled through th? export elevator system v.ouic: not change the price relation- ship between it and wheat and rapeseed. savings plan TORONTO (CP) The Bank of Nova Scotia Monday an- nouKcrd plans for a trusteed re- IVcment savings plan to be of- uirough branches 01 the bank. Bank Act does not allow a hank lo be trustee of such a and a spokesman for the bank srid the trustee would be "or.e cf two or three well-known f. nai trust companies." Ir.e stijkc'Miian, v.ho released HIP announcement, would not whether a trustee had bt.3n agreed upon. announcement said a pre- liminary state- men! of be filed with provincial securities commis- biins. Tee spokesman said a staff has been assembled under the of F. David D. Scott, n former executive vice-presi- vi'Ji Calvin Bullock Ltd. zuyJ manager of Bullocks Acr- n.f'- 'lhe statement said the sav- plan v.ill be "an open- ended imestment fund closely identified with the bank" but frrthcr details were not re- Icr-eci. Rcnis'ercd retirement savings r-lar.-s allow individuals to defer t axes on current income and re- duce current tax levels. Dollar Value MONTREAL (CP) US. dollar in terms of Canadian funds at noon today was un- changed at 22-25. Pound sterling down 3-20 at ]-n. In New York, the Canat'inn dollar was unchanged at ?1.00 25. Pound sterling down 3-20 at ?2.57 33-100. Gold futures WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg Commodity Exchange close Tu- esday. Jly 73 117.95B; Oct 73 122.00A; Jan 7-! 125.25; Apr 7-1 liO.HOB; Jly 74 133.60A. Monday's volume: 161 con- tracts, ;