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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 15, 1970, Lethbridge, Alberta Monday, 15, 1970 THE IETHBHIDOE HERALD Losses Outnumber Gains On Markets TORONTO (CP) The To- ronto stock market was down fractionally in light mid-morn- ing trading today. On index, industrials fell .15 (0 152.31, golds 1.29 to 154.36 base metals .50 to 88.78 and western oils .86 to 129.92. Volume by 11 a.m. was sh ares, clown from at the same time Friday. More than shares usually are traded by 11 a.in Losses outnumbered gains 79 to 57 with 108 issues unchanged. Analysts remain pessimistic about a firming trend in the near future. Largest losses were in bank, oil refining and steel sectors. Substantial gains were made in communications, food proc- essing and trust and loan sec- tors. Among declining issues, Com inco was down to 22, Gulf to Kaiser Resources to 15, Bethlehem H'j to 13% and Opemska to Auto Electric was up 40 cents to Labatts Vi to In- dustrial Acceptance V4 to LIVESTOCK Calgary Lives'ock CALGARY (CP) On offer to 11 a.m.: about 425 head, mostly slaughter steers and heifers; Trade was active. All classes of slaughter steers and heifers and cows sold steady with last week's close. No bulls were on offer. Choice steers 30.25 to 31.10, good 29 to 30, medium 27.50 to 28.50; choice heifers 28 to 28.40, good 25.75 to 26.75, medium 25.50 to 26.50; good cows 22 to 23, medium 20.75 to 21.75, can- ners and cutters 18.50 to 20.50. Replacement cattle were scarce, being practically all steers 'weighing more than 800 pounds. Prices were gen- erally steady. Good feeder steers 30 to 31.50. There were no stock or slaughter calves on offer. Hogs f.o.b. Calgary to 11 a.m., base price 27.85. BUGS COMBATED FREDERICTON (C P) Leaflets giving the description, life history and habits, damag- ing effects and control of com- mon tree pests in the Maritime region are available from the Canadian Forestry Service here. They deal with such sub- jects as Planting and Care of Shade Trees, Balsam Woolly Aphid, and Birch Casebearer. Falconbridge 'A to 133 and Sea- grams Mi to 46. I'lUCES MIXED MONTREAL (CP) Pric.es were mixed and most changes were fractional in light early trading today on the Montreal stock market. A Strike by West Coast tow- boat operators, which began May 3 and hit hard at the B.C. forest industry, ended on the weekend. Towboat operators were expected to be back to work by Wednesday. B.C. Forest did not trade. Southam Press gained Wi to Bell Canada, seeking a tele- phone rate increase, was off to Seagrams gained to 457's Consolidated Bathurst to 13! and Bombardier Ltd. Vt to 13. Cominco slipped Vi to 21? and Bank of Commere t Vz. On index, industrials were u .07 to 152.10, banks .05 to 166.96 the composite .02 to 148.68 ant papers .18 to 83.84. Combined volume in Hi' Montreal and Canadian stoc exchanges was shares a 11 a.m. compared with at the same time Friday. PRICES GAIN NEW YORK (AP) Stock market prices continued to gain xxlay, although trading re- mained light. At noon, the Dow Jones aver age of 30 industrials was up 3.9' at 688.18. Earlier in the morning it haxt been off fractionally. Advancing issues slowly in creased their modest lead over decliners. Analysts said this slight up swing at a time when a drift or a downtrend would have been more natural indicated further internal strength in the market But brokers still say the buy ing is selective with man investors, especially the big in stitutions, adopting a wait-and see attitude. Steels, motors, mail order-re- ail, electronics, utilities, and airlines were all mixed1. Air- crafts, metals, chemicals, oils and rubber issues were up, Bails were off. AP INDEX OFF .3 At noon, the Associated Press 60-stock index was off 0.3 at 235.5. Among C a n a d i a n s on the NYSE, Mclntyre Porcupine fell Dome Mines lost and In- ernational Nickel was off Jistillers Seagrams advanced On the AMex, Scurry Rainbow Oil was up and Canadian Marconi and Molybdenite C.T- ada gained Vt. Brascan Ltd. vas down Vi. Cleanup Of Oil Spill Continues In Athabasca STORE FOR RENT GOOD LOCATION ON 5th STREET SOUTH Suitable for shoe store or ladies' wear store APPLYi Starts Men's Wear 321 5lh St. S. SAVE From 25% to 30% ON SELECT USED CARS 1964 DODGE 6-rvl. standard, Waj J875 tesr. 55% 219 NOW ONtr S656 4168A 1964 CHRYSLER WINDSOR V-8, 4-dr., auto, radio, power steering and brakes. Was toss 25% 794 NOW ONLY YOUR CHOICE OF 4 1968 PLYMOUTH FURY 1 i V-8 auto, 4-dr 'was 'less 30% 653 "NOW ONIY 22I6B" 1964 METEOR 6-cyl., standard, 4-door. Was less 25% 144 NOW ONLY 6083C 1964 VAUXHAU WAGON Standard, radio. Was less 25% 169 NOW ONLY FLEMiNG MOTORS USED CAR DISPLAYS Cor. 20lh St. and 3rd Ave. S. Cor. 10th St. and 3rd Ave. S. PHONE 327-1591 FOOT CIIIPEWYAN, Alia. (CP) Industry and govern- ment crows pressed on with their cleanup of the Athabasca River oil spill Sunday in face of a s c r i e s of technical prob- lems compounded, according to a biologist, by government lax- ity. R. D. Jakimchuk, president of an Edmonton conservation consulting service and a fp mer Canadian wildlife servic biologist, said it was "quit clear" that the Alberta govern msnt w a s caught unprepare whcn; a pipeline fractured week ago and dumped larg quantities of oil into the rivei The government, he saic should have had a contingenc plan including data on tl properties of the light cruc oil carried by the pipeline an Lhe special problems posed b an oil spill, into a fast-flowin river like the Athabasca. Mr. Jakimchuk said it ap pears "we got off lucky in a lo )f since ther likely will be only minor short term damage caused by th spill to wildlife in the river sys tern and in Lake Athabasca. Long-term effects of the spill however, remain an unknown A net set-back for the clean up operation came S u n d a when a DC-3 aircraft en rout here from Toronto with 15 bar rels of chemical preparations was forced to ditch in Lac L Ronge in northern Saskatch ewan. The forced landing in th lake was spotted luckily by AI tin Kidd, operations manage of Athabasca Airways of Princ Albert, who was flying ove Lac La Ronge in a pontoon equipped aircraft as tie DC- glided to the water. Mr. Kidd landed on the lake taxied to the crippled DC-3 am rescued pilot Gerry McLennan and his co-pilot. There was nc immediate word on how mud of the chemical agents, design ed to break down oil in water were salvaged from the DC-3 The downed aircraft was op- erated by Carl Mallord Air Services of Toronto. Meanwhile the federal de partment of northern develop- ment announced that it is as signing a task force to co-op- erate in the clean-up with th( Alberta Government and Grea! Canadian Oil Sands, the com pany whose pipeline fractured A national defence 'depart ment expert who worked on the oil spill of Hie tanker Arrow off the Nova Scotia coast also was being flown to Alberta. The broken pipeline, row re- paired and back in operation is the main one used by Great Canadian to pump synthetic crude oil from the Athabasca Tar Sands 250 miles northeast of Edmonton to markets in the south. The break dumped an undetermined amount of 01 .nto the Athabasca River and lie oil spread downstream 150 miles to where the river enters Lake Athabasca near Tort Chipewyan. Because the oil is a light crude produced by an extrac- tion process from sands in ivhieh it is impregnated, and lecause it is in a swiftly-flow- ng river, clean-up crews can make little use of the expe- ience gained in cleaning up spills of heavy crude in the oceans. Nonetheless, a Great Cana- dian official said the major Potato Prices EDMONTON (CP) Prices oday provided by the Alberta log Producers Marketing Joard: Edmonton: Quoted 27.80, sell- ing 27.80. Average Friday 27.79. Red Deer: Quoted 27.80 to 27.85, selling 27.80. Average Fri- lay 27.90. Calgary: Quoted 27.85, selling 27.85. Average Friday 28.11. No sales. Friday average 28.20. Sows at all points selling 21. Total hogs sold to 11 i.m. Total hogs sold Friday 048, average 28.06. DIVIDENDS By THE CANADIAN PRESS Dales Co. Ltd.. pM. 1.75, June record June 23. .1. Labatt Ltd., common 18 cents, July 15, record June 19; lerics A pfd. 25 cents, Aug. 15, July 24. Laurcnlidc Financial Corp. ..td., pfd. 31'A cents, Sept. record Aug. 10. MLW Worthington Co. Ltd., 15 :ents, July 2, record June 19. Niagara Structural Steel Co. ,ld-, scries A pfd. 48V4 cents, hmc 30, record June 23. Hicliani Costnin Ltd., 5 cents, 'uly 20, record July 3. .1. M. .Schneider Ltd., class B 'fd. (i cents; common 6 cents; loth July 15, record June 19. Somervillt; Industries L f d.t Td. 70 cents, Juiy 1, record line 15. Toronto Dominion Ilnnk, 17 cents, Aug. 1, record June 30. Canadian I'acitic Haihvay, 1.60, July 22, record June 22. Neoncx International Ltd., cents, July 15, record June 23. part of the cleanup should be completed to n i g li t. Plastic booms have been placed across the three main channels at the mouth of the river to catch the before more of it enters Lake Athabasca. Spot cleanup crews are ex- pected to stay at work along the river for about another month. Len Bland, Grost Canadian public relations officer, says tiie company plans to develop measures ID prevent a repeti- tion of the spill. The company says the full extent of the spill was not real- ized until two days after it oc- curred, when a comprehensive air survey was made. The spill caused a shutdown of the commercial fishing sea- son on Lake Athabasca just at the time when fish prices hai gone up because of mercur; pollution in other fishing area of Canada. Tlie Lake Athabasca com mcrcial fishery supported 2 fishermen and nine dockwork ers in this native community. Fears about the effects of thi spill on marshland waterfow breeding areas in the rive jor fish spawning area at the east c n d of Lake AthabascL appeared to have been allayei Sunday. Among the millions of bird: nesting in the delta are rare whopping cranes. Mr. Jakimchuk said the oil i confined to the main rivei channels and poses no itnmedi ate threat to the higher marsl areas. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhause and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quoics) WESTERN OILS Alminex 3.1 7.30 3.90 10.25 3.20 6.50 Banff Can South Cdn Delhi Cdn Exp Gas Cdn Home Cdn Ind Gas Cdn Super Cent Del Rio Charter Chieftan Dynam Pete French Pele Gt Plains Mill City New Cont r. Numac 5.10 Permo .70 Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Triad West Dec 22.50 10.00 6.50 7.50 1.13 J.50 17.50 1.24 Jeff Lake..... Joutel Kaiser Res Kam Kotia Lake Ont Pf Mentor...... Newconex Pac Pete t Rank Organ Shell Inv SheSI Irtv Wfs Sicks Ranier West Cdn Sd White and Yuk. CALGARY Acroll Anoc Pclc Barons Oil North 1.12 14.50 1.90 2.05 .55 5.40 19.75 1I.87V2 24.00 10.00 2.20 15.00 1.33 .03 Invest Mut IDS Venture. Mut Ac Fd Mut Gr Fd Mut Income Not Re: :es 1.04 .75 1.20 .45 7.35 .25 -04% MISCELLANEOUS INDUSTRIALS Atco Ind Aquataine Brit Nfld Cdn Brew B Cdn Hyd Car Cdn Pac Inv CPR Pfd Cygnus A Cygnus B 4. Gt Cdn Oil Gt Cdn Oil Sd e.75 17.25 3.95 34.25 11.50 22.50 8.25 .1.70 Plains Pete West Warn Leduc Calm Madison Quinalla Rexdale .16 PIPELINE STOCKS Alia Gas Tr A 39.00 Alta Gas Tr 4U P 65.75 Inland Nat Gas 9.00 North and Ccn 11.00 North and Ce B P 2-1.75 Tr Cdn Pipe 24.75 Tr Cdn Pipe 2.SO 35.00 Tr Cdn Pipe P A 49.50 Tr Cdn Pipe War 6.35 Westcoast Tr 16.00 Western Pacific d.40 MUTUAL FUNDS A.G.F. Special 2.00 2.10 1 Cdn Com 5.93 -1.55 2.96 4.16 3.80 4.13 A.2Q 3.56 3. Prov Mutual 5.72 6. Regent Fund 7.04 7. Royfund 4.58 United Ac 4.04 VANCOUVER Anuk Artcic Mining Atlas Ex Beth copper Bornlte Ridga Block Bros Brenrfa Brenmac B.C. Sugar Capt Inter Churchill Cop Cor Credit Crestbrook For Croyden Dolly Varden Dynasty Endako........ Futurity GianI Mascot .22 .21 1.03 13.25 .16 2.65 9.10 Granisle Ho; Home B Home and Pit Hud Bay Co Hud Boy Oil Hugh Rus Pfd Husky OH Husky Oil B Husky Oil War. Inf Pro Pipe Inter Steel 96.00 14.50 15.00 11.62% 35.00 20.00 7.87% 36.50 2.90 7.80 5.25 All Cdn Div 3.12 Amer Gr Fd 4.22 Cdn Growth 4.62 Coll Mut 4.92 Cmmonwealth 10.79 Com'wealth Lev 2.66 Corp Invest 4.72 Dreyfus Fd U.S. 9.45 Northwest Fin 3.31 Northwest Gr 3.84 Gr Equity 5.31 Gr Income Sh 2.72 invest Gr 9.37 3.41 4.64 5.08 5.40 11.32 2.92 5.76 10.36 3.64 4.22 5.83 2.93 10.24 Key Indust Growers B........ Hy's Inler Brew Jericho Lornex Mt. Wash Madrona New Cronln New Imp Mines Okanogan He! ___ Primer Silver Slri T.C. Ex Texmont.......... Trojan West Mines Westcoast Res West Ex Utica 17.50 2.70 3.40 1.20 7.00 .31 -33 7.05 12.50 .23 3.00 12.75 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quoies) a.m. Quotes) INDUSTRIALS AblfrpI..... Alcan....... Steel Atco Ind Allan Sugar Bell 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 Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR....... Cominco Cons Bath Cons Gas Dist Sea Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Fam Play Fd of Amer Cdn OI! Gen Motors "1 Lakes Pap _ulf Oil Cda Hawker Sid on, Erie -Jiram Walk Imperial Oil Imperial Tob Int Nickel Int Pipe nv, Go A nf Utilities ndust Accpet .aurentide Celiy Douq A .oeb .oblaw A Metro Stores Massey Fern McMillan Bloe Corp Poison's A 2 power Corp 11.8714 Price Co 8.25 5.75 13.50 57.00 7.50 23.50 17.75 4.30 Rothmans Shell CDA Simpson's Simp Sears Steel of Can Selkirk 'A Texaco Traders Gp A Trans Mtn Pp 10.00 fl.75 20.q0 3.15 6.15 21.25 Acme MINES Trans Can Pp 4.95 Union Gas 4.75 ljnion Oil Versatile Mfg 7.20 Westeel Union Car Wes ton's B Woodward's A West Cdn Sd Zenith Bee -ti.a BANKS 56.B7V-2 Imperial ?2 12 'A Montreal 1325 Nova Scotia Id. 00 Royal 44 Tcr-Dom 13.50 13.50 12.62% Advocate Asb. 47.25 Akaitcho -9.50 Area Mines 43.00 Belcher Iron 370 Black Soy 66.6VA Bralorne 17.12V2 Broulan 14 62Vi Bethlehem Brunswick 1575 Canada Tung. 41 00 Cassiar 15.75 Central Pat. 12.75 Chimo 39.50 Conwest 19.75 Cons. Rambler A.35 Coin Lake 22 25 Cochenour Oaigmont Dickenson Mine Dcnison Mints Deer Horn D'Eldona Dome Mines Donalda Discovery Mine East MaJartic East Sullivan 5.50 4.40 6.00 17.50 9.50 21.75 29. ?5 12.75 13.00 Falconbridge Frobex....... 16.25 First 6.35 Giant .YK..... Gortdrum Gunnar 23.50 Granduc..... 16.00 Headway R.L. 19.6216 Hollinper Hud. Bay M-S 10.00 Hydra Ex. 20.50 Highland Bell iron Bay..... 1J.50 IEO.......... Joliet Quebec 12.50 Kerr Addiaon 3H.OO Key Anacon 2.75 Labrador lo.oo Lake Shore 11.50 Leitch..... Langis Silver Macassa 2.20 Madsen R.L. 1.35 Malartic G.F. Martin McNeely Maybrun Maclntyre 17.50 Midrrm Intern Mogul New Athma New Calumet New Imperial 2.15 Noranda..... Northqale l.BS Opemiska .-JO Osisko....... .08 Pafino....... 1.55 Pino Point Placer Dev. P.C. Exp..... Quebec Man Rayrock Radiore Rio Algom Roman Corp. Silverfields Sherritt Gordon Silver Miller .iu Steep Rock 11.37V2 Siscce....... 1.55 Tek Corp..... 25.50 Texmont Upper Canada Western Mines Wright Har. 133.00 .28 1.15 8.85 3.50 1.20 7.05 9.50 24.00 23.00 21.50 18.50 14.00 5.10 1.85 19.25 2.50 1.25 9.60 .89 14.50 Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Rape- seed dominated trading at the Winnipeg Grain Exchange to- day with prices fluctuating at the close due to speculative ac tivity, There was no exporter buy- ing interest in rapeseed but ex- tensive short coverings and slop-loss offers. The July fu- ture was the most active with prices at one point as much as six cents ituove the previous close level. Aii -other commodities had only a light trade, with flax prices fractionally lower. Oats and barley were generally steady with rye fractionally lower. Volume of trade Friday in- cluded bushels of rape- seed, of flax and 000 of rye. Export loadings of Canadian Wheat Friday included 277 bushels to Britain, to Belgium, to The Nether- lands and to Russia. Prices for class two wheat for export to countries outside 1GA: 1 Nor 1.V5V4; 2 3 4 1.5314; 1 Durum 2 3 4 IGA prices: 1 Nor 1.75V4; 2 1.72V4; 3 4 1 Durum 2 3 4 High Close Flax Jly Oct Nov Dec Rapeseed Jly Nov Jan Mar Oais Jly Oct Dec Barley Jly Oct Dec Rye Jly Oct Dec. 281 280% 270Vz 269 264% 264 264 261% 261 261 320V4 312% 320 206 285 263 249% 250 248 252% 249% 75'A 76% 109V4 110% 110V4 103% 102% 107 107% 106% 107% FAILED AT FIRST LONDON (AP) Years ago William Hill failed as an engi- neering apprentice and began a career as a bookie, making his bet collection rounds on a sec- ond-hand motorcycle. He has re- tired now at 67 from the chair- manship of Holders Investment Trust, owner of the betting busi- ness that made him a muiti-mil- WIDELY USED Corrugated boxes made of iibreboard are used to transport more than 95 per cent of the manufactured goods in the United States. New Bonds Offered Canadian Investors OTTAWA (CP) The govern- ment today offered investors new short and medium-term bonds at prices yielding 6.58 to 7.49 per cent interest in a major refunding. The government's offer of about of new bonds was made in three maturities: year, nine-month 6Vs- per-cent bonds due April offered at 99.85 per cent of face value to yield about 6.58 per cent when held to maturity. six-month 6Vi- per-cent bonds due July 1, 1973, offered at 99.4 per cent of face value to yield about 6.72 per cent when held to maturity. i v e -y e a r-, bonds due July 1, 1975, ottered at 99 per cent of face value to yield about 7.49 per cent when held to maturity. The exact amount of the bond issue will be within 10 per cent of more or less than and allocation of orders accepted among three is- sues will be made after sub- scription books close, probably Wednesday. The Bank of Canada will take up a minimum of of the new issue. The money raised will be used to redeem of five- per-cent bonds and of bonds coming due at the end of this month. The remaining will be used for the general pur- poses of the government. The interest rates and prices at whicb new bonds were of- fered were down from the gov- ernment's previous bond financ- I Ing. Last July it offered1 yields of 7.88 and eight per cent In raise and in April this year it offered 7.1 and 7.4 per cent to raise NET EARNINGS By THE CANADIAN PRESS General Bakeries Ltd., year ended April 4: 1970, 1969, H. C. PAILLEFER Mr. H. D. loing. Vice Presi- dent Western Region of Air Canada announces the appoint- ment of Mr. H. C. "Howard" Paillefer to the new position of District Manager, Calgary. Ho will be responsible for all Air Canada customer-related activi- ties in his area. Mr. Paillefer's appointment Fallows extensive company reor- ganization and his re pan si bill- ies will encompass the farmer Sales, Station Ope; ationi and Public Relations functions. He joined the airline in 1945 Following service in the Canad- an Army and since then hoi neld senior management posi- tions in Cleveland, Windsor, Van- couver and AND SENIOR STUDENT A challenging opportunity In public practice with a notional firm is open to a chartered accouniant and an ex- ceptional senior student. Using the latest audit techniques, duties will entail planning and field supervision of oudit engagements. The successful candidate will have public accounting as his goal, be capable of directing and getting along with people and possess a desire to learn. Salary commensurate with qualifications and experience. Referring to file 223, please reply In complete confi- dence ia: DEIOITTE, PLENDER, HASKINS AND SELLS CHARTERED ACCOUNTANTS 602 BANK OF MONTREAL BUILDING EDMONTON 15, ALBERTA 53.00 .25 1.30 1.02 5.50 Willroy Windfall Yellowknire Zenmac NEW YORK STOCKS Supplied by Richardson, Securities of Canada Amr T and T 31.37% Mont Ward .1.1.50 in Golds 154.19 off 1 Anpcomla 24.75 Soars ...........56.50 10 Base Met 88.67 off" .81 Bib S'ed ........22.50 Sid Oil of N..I. 15 West Oils 131.95 up 1 17 Chrysler Texas Gull 117.00 Volume 512000 Comsat 30.75 Texas Co......... 26.62'ANEW YORK AVERAGES! Wootoortb 29.12V430 Indust W0.03 up 5.82 Motors West Elec ......J1.75 20 Rails 137.53 olf .7' U.S. Steel 32.50 15 Ulillfies 98.29 up ]6 nl Harvester W.12Vi TORONTO AVERAGES Slocfcs 22213 un 83 Kenn Copper 43.25 20 Indust 152.23 off Volume Smitty's Pancake House Franchise Available Excellent location in Marathon Development in City of Lelhbridge to be open about Octo- ber, 1970. Cash required approximately Capital investrneni returned in ap- proximately four years, For further information please write or phone SMITTY'S PANCAKE HOUSES LTD, 709 8th Ave. S.W., CALGARY, Alberta. 263-5683 (403) Enfoy Outdoor SUN SHADE CORRUGATED RUSTIC PANELS 3 colors: Patio White, Sunlight Yellow, Surf .89 CONSTRUCTION GRADE FIR OR CEDAR 6 ft. long 2" heavy duty construction Steel reinforced legs Fold-ing seats Ready to paint or if stain. Each H jj SPRUCE 2x4s Construction Grade PER LINEAL FT. Open a Crestline Budqef Account ;