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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 17, 1974, Lethbridge, Alberta Monday, Junv 17, 1974 THE LETHBRIDGE HERALD 17 The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED High meat price sacrifice urged to assist producer EDMONTON (CP) a resumption of unrestricted Deputy Alberta Agriculture imports of American cattle Minister Dr. Glen Purnell into Canada as has 'been said Saturday consumers discussed in Oftawa because should accept the sacrifice of cheaper American beef would higher meat prices to help drive the price to Canadian producers recover financial producers, losses. "Canadian beef producers Dr. Purnell said the federal have suffered such severe government should not allow losses over the last six-to- WESTERN OILS AND MINES Alton Mines Albany Oil Alta East Gas .38 5 12V? a Teledyne 3 65 Trimac 5.75 Canbra Foods 3.35 Westfield Min 1.02 Weston A Pfd of oil firm Yukon Ashland Oil BP Canada Brenda Mines Cda 5.75 STOCKS Alta Gas Trk A 12.87% Alta Gas Trk Pfd 56.00 Alta Nat Gas as vote Cdn Ex Metro Cdn Homestd Cdn Ind Gas Oil Cdn Super Chieftan 7.50 41.50 6.87 Metro A Pfd 54.00 Inland Nat Gas 1275 N and C Gas 11.00 N and C Gas B Pfd criticized Dome Gas Trans Dynasty Fort Pipe 9.87% Trans-Cda Pipe A Pfd Alta. (CP) Resource company profits, Giant Pipe B Pfd in the oil industry, should not be used as a vote- Gibraltar Mines Gt War 1.25 WC Trans political football Bill Davis, new president of the Gt Cdn Oil Trans War of Chartered Accountants of Alberta, said during Lochiel Ex Lytton Acroll weekend. Noble Oil Davis said resource companies are reporting North Cdn Oil Numac Continental -02 Western Warner profits because accounting methods are failing Pancdn take into account inflation when tabulating the Pan Ocean Atlas Explorations cost of plant and equipment. Norsemines example, a pulp mill built for million in 1954 Place Gas have been amortized at million a year for the past Ranger Dolly Varden years. During that time, inflation has given the Scurry Rain Res. huge profits but it is going to cost million, D. r o Northair Mines million to replace the mill when it's worn out, and Total Pete Ulster difference hasn't been subtracted from profits he said United -07 Silver Standard an interview. West Pete West Copper 6.50 iKtm ICTDIAI Davis, a Calgary partner in Price Waterhouse and I nIMLo Columbia Brewing said the federal-provincial battle to take phantom Industries from the oil industry is having a serious impact in 1.75 Acres Ltd Petroleum ludicrous that a major industry in Alberta has BC Sugar C 3 Pete. -14 Ponderay Explorations a political football between governments." he Block Bros Cdn Pac Inv A Pfd Carling O'Keefe A Int'l Res -61 MUTUAL FUNDS All Cdn Compound 5.57 would like to see one of the political parties in the Carling O'Keefe B Cdn! Dividend 5.80 show a willingness to sit down with the Alberta Comm Cap Corp Crestbrook Cdn. Ventures 2.98 3.24 Amer Growth Fund 4.31 and the oil industry and solve this problem. Falcon A Special the provincial and federal governments are being F and M Trust Invest Fund 4.55 4.98 Collective Mutual 4.b4 on the issue. The battle over taxing the oil Home Oil Investors 5.63 should not be used as a vote-getter. The Home Oil B Hud Bay Invest Stock Fund 4.26 4.68 Drowfnc Fnnri Q R4 1D are simply too great for the current Alberta Hud Bay runu u.o. Grouped In Shares and Canada's future energy supply." Hud Bay Oil A Pfd Hugh Russell C Equity 6.16 Davis said the Americans are now paying Husky Growth Fund 11.0912.12 Investors Mutual 5.27 for oil they developed and the American Huskv Oil B Pfd Husky Oil D Accum 5.63 paid for by allowing the companies to write of Husky Oil E War Interprov Pipe Growth Fund 2.81 3.10 Nat. Resources 4.17 exploration on their income taxes. Interprov Steel Pipe Kaiser Cdn. 5.13 N.W. Growth 4.24 Kaiser Res Growth 3.92 Loblaw Co 2 40 C Mutual 6.80 Magnasonics Pacific Pete Pac West Air Pe-Ben Oilfield 20.62% 850 6.23 6.49 ___ -_ Templeton Growth 7.28 7.98 1 Unlle'rsafsa'v'ings 7.24 7. SB J_ ClX. 1 II Q. C 1 S 1 0 Rainier 5.52 Royal 5.39 Toronto mines, industrials (Supplied by Richardson Securities ot Canada) hurts clothiers Forest Advocate Sugar A Valley Ind Ind O'Keefe Cellulose Can NW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons 3.80 S.37'i 93 1.10 375 Power Coron Credit CWN Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler Com Cochenour Craigmont Dickenson Mines Demson Mines D'Eldona Dome Mines Discovery Mines East Maiartic East Sullivan Falconbndge 5.25 8.25 41.25 .38 48.00 1.85 550 2.61 45.25 Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mobile Grt Cdn Oil First Motors Giant Y Lakes Paper Oil Hollmger Hudson Bay M5S Hawker Sid Hydra Walker Iron Erie Oil A Kerr 12' Nickel Key Pipe Grp A Lake Infl Lanais Acceot Madsen Uaiartic G Douglas A Martin A Intern Nu West Bloed Nev; Corp New A 8 Cent Pine Corp Placer Co Pax Quebec CDA Rio Alqom RomarT CorP Sherrilt Gordon Sleep Sunmnadale Tek Core A Texmon! Uniled 950 1 52 700 3.40 Sears Steel Can A Selkirk A Texaco Trad Gtp A Trans M1n Pipe Trans Can Pipe Union Carbide Union Gas WH Copper f 1 Oil Uniled Siscoe Wnqhl HatQTeaves M1q Yollowknile Bear Zetimac 305 Woodwards A Canbra Foods Zenith E Algoma Alco Imfetial Aqta Bell Scotia Brascan S 87' BC OC Dorri 11.37'r 16.12'r 19.50 13.62'.- 9.00 2.44 5.87'; f, 87 22.75 3.25 9.00 20.37', 3.20 16.50 16.25 13.87'.- 28.12'.- 27.00 15.37'.- 38.00 45.00 25.12'.- 11.12'.- 1525 26.75 31.00 3.90 7.50 48.25 20.50 27.50 15.75 5.87'.- 45.75 24.00 27.62' 27.75 27.12'.- 16.12'.- 7.12'.- 13 12'.- 1637'.- 2.41 4.75 9.37-.- 345 675 12.50 17 12'.- 25.75 50.62'- 21.50 19.00 675 11 00 11.12'.- 1337'.- 6.12'.- 13.25 1462'.- 8 12'.- 11 12'.- 3087'.- 1325 37 12'.- 1037'.- 1325 988'.- 20.00 825 10.12'.- 575 625 21 50 2287'.- 2325 335 300 26 12'.- 1700 35 12'.- 3275 37 12'.- York (Supplied by Richardson Securities of Canada) Arm 1ST 31 DuDPM General Vlrylors. Gull In1 HarverMer Ward 1737'j 2337'- 1687'- 31 12'; 16950 W 37' 2025 2600 25 Exxon Tf'x.w Gull Tf'xas Co Wix Corporation SB 12" 72 75 i-r 1325 Weslinphouse Elec US Sfeel 44 371? Gen Tel Eire 2312'; TORONTO AVERAGES ?0 Induslnali 192 46 down 93 20 Golds 443 46 down 2 97 1u Basp Wleials S3 55 down 82 1S Western Oils 192 69 down 62 Volume 743 000 )JEW Y0RK AVERAGES indusl'ials 835 9fi drwn 7 11 17-239 down 1 23 15 Ulilrt'PS 71 76 down 70 65 252 SO down 2 10 Volume -M40.000 MONTREAL (CP) Clothing industry spokesmen Earnings increase expected VANCOUVER (CP) The president of Kaiser Resources Ltd. says he expects improved second quarter earnings, over first quarter net earnings of S3.2 million, and significantly higher earnings for the year ending December 31. 1974. Kaiser had a consolidated net loss of S516.000 in the first quarter of 1973. Edgar F. Kaiser Jr. said that the improvement in earnings results from a price increase to from S21.63 a long ton. effective June 1. for metallurgical coal shipped to Japan, and continued improvements made in operations. In his address to the annual meeting of shareholders. Mr. Kaiser outlined possible future expansion of the company's surface mining operations and a potential joint effort with two Jap- anese companies in the Sparwood-Fernie area of southeastern British Columbia. Oil, gas drilling declines CALGARY iCPi The number completed wells drilled for oil and gas in Canada was 95 last month, less than half 1he 209 wells completed in May. 1973. the daily oil bulletin reports. Industry has attributed the sharp decline to the federal budget of May 6 proposing higher 1ax rates for oil corporations and the political- economic climate in general. Reduced activity was most evident in Saskatchewan, where four wells were completed last month, compared to 32 in May, 1973. In Mberla. the number dropped to 83 from 166. say they are being hurt by indecision over the repeal of a 12-per-cent federal sales tax on manufactured goods. A provision to abolish the wholesale tax went down earlier this year with the defeat of the federal budget. Clothing manufacturers are now unsure whether the Liberal government will rescind the tax before the July 8 federal election or whether a new government will act on the issue. Retailers are currently reluctant to accept normal deliveries of fall merchandise, fearing they may be paying the tax un- necessarily and that com- petitors who wait may be in a position to undersell them if the tax is repealed. Some manufacturers of men's and women's apparel say they are having trouble finding storage for goods because fall orders are lagging while they continue to produce for expected demand. Another problem identified by manufacturers is a credit squeeze produced by their in- ability to borrow against pur- chase orders. Fred J. Bryan, executive di- rector of the Apparel Manufactuers" Council of Canada, says his group asked the minister of finance last January to remove the tax. The council believes such a step will help counteract in- flation and reduce adminis- trative costs of filing monthly tax reports as well as the cost of borrowing in anticipation of taxes to pay the actual levy. The apparel group now is making renewed representa- tions to the revenue department in hopes of obtaining immediate relief or clarification. So far no answer has been received, says Jean H. Picard. chairman of the institute. The 12 per cent is applied at source on most manufactured goods. Since retailers calculate their gross profit, or on the-basis of suppliers' pnce plus sales tax. the cost to the consumer is higher than 12 cents on the dollar. POET WANTS OUT IXTNDON (APi Russian pool Alexander Galich and his wife have applied for per- mission to emigrate to Israel. a member of the British Parliament reports. Labor MP Greville Janner said Gallon was expelled from the Soviet Writers' Tmon in 1973 for working in the Jewish emigration campaign. eight months that to slash out the eight-to-10 cent advantage they now have over their American counterparts just when they are recouping their losses a bit would be disastrous." He said "at worst. I think any change in import regulations would have to be on a quota system. We're not opposed to free trade. We're only concerned about circumstances that have placed out livestock producers at a temporarily disadvantaged position." Dr. Purnell said he received "several telephone calls" from consumers expressing opposition to proposals that the ban on imports of cattle treated with the growth hormone D-E-S be lifted. Virtually all American cattle are fed b-E-S. "I'm glad consumers are taking a practical and pragmatic approach to the meat situation because there's no doubt that unless the producer gets a fair return consumers are going to be at the mercy of a higher price from another source." Market prices lower in light TSE trading TORONTO (CP) Prices on the Toronto stock market were moderately lower in light midmorning trading today. The industrial index fell .42 to 192.99, golds 3.23 to 443.20, base metals .32 to 84.05 and western oils .31 to 193.00. Volume by 11 a.m. was 000 shares compared with 521.000 shares at the same time Friday. MONTREAL Szucs of Lcthbridge. Miss Pauline Bodie of-Coaldale. Mrs. O. Lillian Erdos of Lethbridpe: sixteen grandchildren: two great-grandchildren: three sisters and one brother- Prayers will be said at p.m on Monday tonight i June 17. in Slartin Bros MEMORIAL CHAPEL. 703 13th St. X.. phone Requiem Mass will be celebrated at a.m. on Tuesday. June 18. 1974 in SI Ambrose Catholic Church. CoaldaJe. wijfi Kev Father F McCain- and Rev Father G MrLcJlan Celebrants. Interment will follow in Tabcr Cemetery. MARTIN BROS LTD.. .ire Directors of Funeral Service. DEATH BEVAN Passed away in the city on Saturday, June 15. 1974. following a brief illness, Mrs. Elizabeth Ann (McDonald) Bevan at the age of 79 years, of 1116 llth St. S.. beloved wife of the late Mr. Joseph Bevan. Born, raised and educated in Lethbridge the late Mrs. Bevan has resided here most of her life. She was the beloved wife of the late Mr. Jack (Mac) McDonald of Lethbridge. She was a member of the Rebekah Lodge for over 25 years and also a Charter member of AN AF. She is survived by one son. Mr. Jack McDonald of Lethbridge: one daughter. Mrs. T. (Dorecn) McColl of Lethbridge. five grandchildren. The funeral service will be held at p.m. on Tuesday. June 18.1974 in Martin MEMORIAL CHAPEL. 703 13th St. N.. phone 328-2361 with Bishop Clifford J. Peterson officiating. Interment will follow in' the Family Plot. Mountain View Cemetery. MARTIN BROS. LTD.._ Directors of Funeral Service. C9563 CARDS OF THANKS THE GOLDEN MILE CENTRE Would like to sincerely thank the local businessmen and members who gave so generously to the Auction Sale. Also to Hurlburt Auction Service Ltd. our many thanks for making the auction so profitable and enjoyable. C9560 MALLETT We wish to extend our sincere thanks and appreciation to all our friends and relatives and everyone who helped in any way during the loss of our mother and grandmother: to those who sent flowers, cards of sympathy. Special thanks to the matron and staff of the Edith Cavell Nursing home for their care and kindness during her stay there. Dot and family 3864 NEUFELDT The family of the late Nelly Neufeldt of Coaldale wishes to thank the nurses, staff and the doctor of the Coaldale Community Hospital, and the nurses and staff of the Lethbridge Municipal Hospital: pallbearers all grandsons Douglas Balla. Harvey Neufeldt and Clarence Giesbrccht all of Lelhbridge: Dennis. Colin and Kevin Nrufeld! all of Coaldale; Rev Ralzlaff. G. Reimer. Martin Bros, and the many friends and relatives for the flowers and other tributes. They all made the loss of a "dear mother easier bear. May God bless you all. Declines outnumbered ad vances 108 to 66 with 135 issues unchanged. Greyhound Lines fell Vz to Vz.' Dofasco to Royal Trust A to 'A. Banque Canadienne to and Simpsons to Rio Algom lost to Pamour to Agnico- Eagle V4 to and Dickenson to Canada Northwest was Market trends VANCOUVER iCP) Prices were mixed in heavy tracing on the Vancouver Stock Exchange today. First-hour volume was 778.267 shares In the industrials. Bank of British Columbia trust units was unchanged S12.25 on 700 shares. In the mines. Sonesta was up .04 at S1.24 on 64.600 shares. In the oils. Payette was up .33 at .91 on shares. At the close Fnda> prices were up in heavy trading. Volume was 3.886.185 shares In the industrials. Canterra was up 11 to 52 on 24.000 shares Mercuria was unchanged at 12 on 13.000 shares Cornat Hose 05 In on 6.800 shares. ionarc was down 05 to .50 on 5.000 shares Pacific Northern Gas was down 35 to S2 BO and Captain International dropped .01 to .37. In the mines. Laura was up .07 to 36 on 361.000 shares. Consolidated Fortune Channel rose .06 to 90 on 300.500 shares Sonesta was up 06 to SI 20 on 242.000 shares Calivada was up 04 to .29 on 107.750 shares Sonesta A up 02 to .85 and Consolidated Fortune Channel Warrants were up 08 to .H5 In the oils. Payette was up .26 to 58 on (iI3.7flO shares Payette Warrants were up 15 to 27 on a turnover ol 84.900 Davenport rose 05 to 80 on NOW LEASING Square Feet (Bay Sizes from Square Feet) Wholesale, Warehouse, Commercial, Offices, Shops down to Trans-Can three cents to 97 cents and United Reef Pete three cents to 12 cents. Southam A gained to Zellers to Unicorp Financial eight cents to and IWC Communications four cents to SI.50. Francana rose 3s to Sogepet three cents to and Central Patricia four cents to 95 cents. iii-r 1" SI "7 on 22.1IKI shares i IIVIHA wj-. up 02 to M 75 and Cop-hA unchanged ut ;W NEW YORK i.M'i Frustrated and perplexed by the market's recent behavior, investors simply stayed awav in droves today, sending stock prices lower in very light trading. The Dow Jones average of 30 mdustrails was off 5 01 at H38 08 at 11 MO Declines outnumbered advances KliO to 323 among 1.296 issues traded on the New York Stock Exchange. In the news. First National Bank of Chicago decided to maintain its ll'z per cent prime rate, damping the hope expressed last week that rates might be coming down NYSF volume leaders were American Home, down at S43-': and AMP Inc at i Citicorp (ell 1 to Divers Mortgage to Dow Chemical gamed I-- to S70 Oils were lower, with Exxon dow-n I1 j to i72V Kerr Mi-Gee I11 to S691.. and Standard Oil ol California to S2B7- Among Canadian issues. Inco gained 'i to ?28'i. Mdnure lost 1 to S38. Dome Mines 'j to Seagrams 't. to S3y--v. Canadian Pacific to SHV and Alcan to Livestock Calgary Hog prices CALGARY (CP> Receipts to 11 a m. Monday from the Calgary public- stockyards totalled 950 head, practically all slaughter steers and cows. Trade w-as moderately active Steers met a moderate demand at prices around SI 50 lower There were insufficient heifers on offer to establish a market The beef quality premium was included in steer prices Good cows sold SI 50 to S2 lower, other grades unevenly steady Steers. Al. A2 4850-5020 A3 47- 4850 Cows. 33-35 28-32 04 22-28 There were insufficient replacement cattle or stock calves on offer to establish quotations No hoes were sold to 11 a m Dollar value C S dollar in term'; of Canadian funds at noon unchanged at SO 96 2-5 Pound sterling was down 11-25 at S2 30 17-50 In New York, the Canadian dollar was unchanged at SI 03 73-100 Pound sterling w.is down 11-25 at S2 38 24-25 KIXMONTON 'CP' Average 1! a m Monday provided by the Hog Producers Marketing Board. Kndav average in brackets Kdmonton- 3500 i3500' Calgarv Nil 'Nil' Red Deer 3500 '3500> Grande Prairie: 33 75 Hoes ".old to i! a m 2574 Hogs sold Kndav 1 830. Average 35 00 Sows average 18 50 Winnipeg grain CuniiiiiKisp. ,ill price- "Xi -.vhilr the more 1 tr.idint; limit, while rye ivccn and 5'- cents ii.iHVtta-.245 (NK> nnn LIFE INSURANCE I W V p W V (Initial Amount) Level Term Option (20 Year decreasing Convertible Term Insurance) ANNUAL PREMIUMS Age 20-155.00 Age 35-228.00 Age25-160.00 Age 40-321.00 Age 30-167.00 Age 45-475.00 KEN BELSHER OCCIDENTAL LIFE of California 439A HOLIDAY VILLAGE 328-0944; RM. 328-0994 FOR LEASE AVAILABLE JULY 1st APPROXIMATELY 400 SQ. FEET PRIME OFFICE SPACE 4th FLOOR CANADA TRUST BUILDING APPLY: RENTAL DEPARTMENT THE CANADA TRUST COMPANY Phone 327-8581 Call 24 Ho-ra Why pay an answering service when you can own your own? Jric-." T' Dictaphone -9 N.J. Wloditine Ho1 Albedo Phor.c 515 fc? MtOlClNfHAT A Ibfrlo f hone 526-671 2 ;