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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 23, 1973, Lethbridge, Alberta Saturday, Juira 23, 1972 THE LETHMIDGE HMALD Volatile price changes Gold stock investors warned By SANDRA INGALSBE TORONTO (CP) Recurr- ing bouts of gold fever on world metal markets hsve at- tracted intense interest in gold stocks, but analysts cau- tion that investors should be prepared for volatile price changes. The Toronto market's gold index has responded almost daily to the price fixing of gold bullion on the London free market, rising 65 per cent from its 1973 low to its high in May. Rosmar Financial Report says the latest surge can be attributed to speculative buy- ing in a major flight from currencies, notably U.S. dol- lars, into gold. "The key speculative factor in the golds is the fact that no one can predict with any gen- erally acceptable argument where the price of gold will be in a month, six months, or a year hence. There is a growing belief, however, that the price will probably range between and for some time to come." Rosmar says there is also "a strengthening body of high opinion that the monetary price of gold, which is cur- rently an ounce, must be sharply increased." The investment firm by- passes major producers and recommends three junior stocks for participation in the hot gold market "because even from their current rela- tively high levels there is fur- ther excellent gain potential, and because the initial outlay is more modest considering their price levels." Rosmor says Agnico-Eagle Mines in Joutel Township, Que., is being developed for production at a daily mill rate of tons and a cost esti- mated at million. The company is counting on get- ting its new pebble mill into production by the end of the year. The company projects an Operating profit of million with gold at av- erage, based on 90-per-cent recovery, a grade of .23 ounces and a cost factor of a ton. "One of the defects in this situation, however, is the 13.86 million shares out- to earn even 50 cents a share on that capital- ization means making a net profit of the order of mil- lion a year. It all depends on the price of gold. "Nevertheless, there's some glamor attached to probably the first nsw major gold mine the RIVIERA MOTOR HOTEL Welcomes you to Edmonton To help make your stay more would like to introduce you to all our facilities. MORE PEOPLE STAY AT THE RIVIERA- BECAUSE THE RIVIERA OFFERS YOU MORE! Write or Telephone IVIERA MOTOR HOTEL 5359 CALGARY TRAIL 43-43-43-1 for Canada in many years and for a shorter term play, Agnico-Eagle has potential." The stock closed Wednesday at Rosmar says Fafconbridge Nickel, which owns 68 per cent of Kiena Gold Mines, is studying the reserve situation on its idle Malartic, Que., gold property. Falconbridge argued until recently that the free market price of gold is too vulnerable to risk an expensive develop- Rising prices hit independent gas i station operators TORONTO (CP) Rising gasoline prices are making it almost impossible for Jack Syl- man, owner and operator of Jim Dandy Automotive Sup- plies, to predict profitable fu- ture in the'independent gas sta- tion business. Mr. Sylman and other inde- pendents have been using low- priced surplus gasoline to un- dercut brand-name dealers and capture about 30 per cent of the urban retail market and 10 per cent of the Canadian retail mar- ket. Now the refinery surplus has been reduced to a trickle and the independents can no longer advertise prices up to seven cents lower than brand-name stations. Ih some cases they are holding prices one or two cents lower by reducing profit mar- gins from about 4.5 cents to 2.5 cents a gallon. Mr. Sylman now depends on other business interests to sup- Price cuts for cars reaffirmed OTTAWA (CP) Trade Min- ister Alastair Gillespie reaffir- med the government's intention to hold automobile manufactur- ers to a commitment to reduce the price disparity between Ca- nadian-and American-built cars. Replying to a series of opposi- tion questioners in the Com- mons, Mr. Gillespie said, how- ever, that he is not prepared to that manufacturers roll back proposed price in- creases for 1974 models. Ed Broadbent awa-Whitby) said the Ford Mo- tor Company's recent announce- ment of a increase in the price of its new models violates the company's promise to re- duce the Canada-TJ.S. price dif- ferential. Mr. Gillespie said: "We in- tend to hold the company to its commitment." H. H. Smith Ltd. Customs Broker EDMONTON PHONE 424-9796 1 CALGARY PHONE 263 8059 I LETHBRIDGE PHONE 328-8141 KPHONtE COUTTS W4-424 Home Office Ph. 344-3822 ASSISTANT OPERATIONS MANAGER (REALTY TAXES) Required by Calgary office of national real estate company to assist in the administration of realty assessments and taxes in Alberta. Completion of rec- ognized assessment course and previous municipal or provincial assessment experience an asset. Salary com- mensurate with experience and ability. Apply to Op- erations Manager (Realty Taxes) MARATHON REALTY COMPANY LIMITED 873 125 9th AVENUE S.E. CALGARY, ALBERTA T2G OPS plement his income from gaso- line sales. He says gasoline supplies still are available, with no signs of an imminent shortage, but prices are rising. ADDS TO PRESSURE The suspension of the hidden support system by most major companies also is adding to the pressure. This system, which allows for price flexibility in price-war sit- uations and often supplied inde- pendent operators with free pumps and storage tanks, en- abled hundreds of independent gasoline retailers to establish flourishing businesses in the 1960S- The independent outlets, oper- ating on a cash basis, concen- trate mainly on gasoline sales and offer few other services. They operated with approval from the major oil companies until international oil price in- creases and shortages in the U.S. changed the supply and de- mand situation. Now that demand is more closely in line with Canadian output, producers are increas- ing prices to independents to bring them in line with those charged to regular outlets. Volkswagen expects to record loss WOLFSBURG, Germany (AP) Volkswagen says it ex- pects its American subsidiary will wind up in the red this year for the first time since VW started selling Beetles in the United States in 1950. VW yesterday blamed the upward revaluation of the West German mark and the deval- uation of the U.S. dollar for the expected loss. A spokesman for Volkswagen in the United States said the company anticipates selling Beetles this year, more than last year, but the monetary revaluations are ex- pected to offset the increased sales. A company spokesman said the mark and dollar changes had driven the price of a Beetle up to more expensive now than Ford's subcompact Pinto and General Motors' Vega. Last year Volkswagen of America and its enterprises cams out "even, which means we had no profit last the spokesman added. "Next year we are bound to work at a loss." In Toronto, a spokesman for Volkswagen Canada Ltd. said the company "made a small profit last year" and had no direct projections for tms year." Henry Sahrmann, manager of corporate relations, said "were confident that we will continue to sell our product in Canada, but the matter is far too com- plex to comment on." "We would be speculating on future currency developments. Food airlift operation set EDMONTON (CP) Two aircraft from Canadian Forces Base Namao and 50 servicemen are to participate in a month- long food airlift to six west African nations, the base an- nounced here. The operation, beginning be- fore July 1, involves flying food from Lagos, Nigeria to destina- tions between Nigeria and Lib- ya.' The first aircraft to leave Can- ada departs from Canadian Forces Base Trenton and those from Namao, near Edmonton, leave a week later. ISLAND BIRDS About 460 species of birds have been recorded in the Brit- ish Isles. mcnt to production program, Rosmar says. "But gold in the to range is a strong lure and we regard Kiena as one of the better exploration bsts in the gold speculative list." Kiena closed Wednesday on the Canadian Stock Exchange at Rosmar says that, unlike Fakonbridge-Kiena, Camflo Mines as a penny-priced jun- ior in the early 1960s decided to go ahead with production after it made a discovery similar to Kiena's in the Ma- lartic area, starting produc- tion in 1965 and sending out the ore for custom milling. "Indicative of how Cana- dian gold mines are 'coining money' is the Oamflo earn- ings report for the first quar- ter. Profit of 28.6 cents a share for the period compares with 8.5 cents a year ago- even for allowing for doubled income taxes. "We expect Camflo to at least double last year's earn- ings of 63 cents a share, even though the recovered grade will be slightly lower than in the first quarter." Camflo closed Wednesday at Gold prices WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg Commodity Exchange close Friday. Jly 73 121.25B; Oct 73 125.30B; Jan 74 128.25B; Apr 74 131.90B; Jly 74 135.75B. Thursday's volume: 49 con- tracts. Arthur J. O'Connor, gen- eral manager of the New Brunswick Power Commis- sion, named president of the Canadian Nuclear As- sociation t h.i s week, promptly called for a na- tional energy policy for Canada. Liver cut off TEL AVIV (AP) Chopped liver, a favorite Jewish dish, will temporarily disappear from the tables of Israeli fam- ilies. The minister of com- merce and industry said no supplies of frozen liver will be available for two months, in or- der to build up reserves for the religious holidays in September. LIFE INSURANCE (Initial Amount) (20-Year Decreasing Convertible Term Insurance) IT WOULD PAY YOU TO COMPARE THIS WITH ANY OTHER TERM PUN' MONTHLY PREMIUMS (P.A.C. Plan) Age Age Age 25-18.70 Age Age Age KEN BELSHER OCCIDENTAL LIFE of CALIFORNIA 439A HOLIDAY VILLAGE Phone 328-0944, Ret. 328-0994 Investment, feasibility studied Gas decision still awaited PERTH, Australia (Reuter) By the end of 1973, the deci- sion may be made on whether natural gas is to be drawn from beneath the inhospitable waters off northwestern Ausrtalia and shipped to energy-hungry in- dustries abroad. Nearly a decade after explor- ation started, planners backed by an international consortium hope to be able to come to some preliminary decisions. Such decisions would concern investment and the feasibility of establishing rigs, pipelines, and shore facilities to process the fuel. B.O.C. of Australia, wholly- owned subsidiary of Woodside- Burmah Oil, is the operating arm of the consortium. The partners in the wells being drilled in the shelf are Wood- side-Burmah, which has a 50- per-cent interest, and Shell De- velopment B.O. Petroleum Development Aus- tralia, and Cal-Asiatic Oil, which share equally the other 50 per cent. PROMISING POTENTIAL The most promising potential appears to be for natural gas, which would be shipped in li- quefied form to energy users in the United States and Japan. Liquefied natural gas is re- garded as one answer to the problem of limiting pollution. Natural gas can be shipped In vast quantities, but at consider- able expense, because, when subjected to temperatures of minus 161 degrees Centigrade at atmospheric pressure, H li- quefies and has a volume 600 times smaller iban In its gaseous state. K. F. Wilson, executive chair- man of BOC, told a press semi- nar Woodside-Burmab faces "an immense evaluation prob- lem" in the two northwest-shelf gas fields. Confession no crime PADUA, Italy (AP) A local court has ruled that it Is not a crime to disclose conversations with Roman Catholic priests during confession even if the subject deals with sexual matters. The court ruling came in the case of two Italian journalists who had published Sex and the Confession in which they reveal comments made by hundreds of priests when asked during con- fession about sexual problems. Journalists Norberto Valen- tini, 34, and Clara di Meglio, 40, were ordered to stand trial last April after their book was pub- lished. The controversial book was seized from the book stores in some areas and the two authors charged with obscene publica- tion and contempt of religion. Both charges were dismissed by the local court. Valentin! and Miss di Meglio, both non-practicing Catholics, traveled around Italy faking confessions on sexual matters. They tape recorded the advice of the priests on questions mainly concerned with how couples can avoid pregnancy without breaking church rules. Pope Paul has ordered the ex- communicaition order also ap- plies to owners of book stores where the journalists' book is sold. BUYING or SELLING call FRENCH MONDAY, p.m. SPECIAL Feeder Hog and Baby Calf Sales Wednesday] a.m. FAT CATTLE SALES SLAUGHTER HOGS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SELL FAT AND FEEDER LAMBS DAILY WB carry Hartford Insurance en all livestock FRIDAY 10 a.m. iFAT and FEEDER CATTLE SALES 1 p.m. STOCK CALF AND FEEDERS EXPORTERS OF SLAUGHTER HOGS EXCELLENT FACILITIES FOR FEEDING AND LOADING HOGS. ED FRENCH.......... 328-3986 DAN KLASSEN.....'... 345-4358 KEN MILLER, MAGRATH 758-6607 LOU DEJAGER 345-4489 WHIT HENINGER......328-7354 CONSIGN ALL YOUR LIVESTOCK TO: C. L FRENCH LIVESTOCK "In The Heart of Canada's Ranching Country" Ml- Office 327-010T 327-3986 Alberta Stockyards P.O. BOX S.S.1-7-7, LETHBRIDGE, ALBERTA By Sophie Fierman UPLIFTING THOUGHTS ACROSS 1 Healing fluid 6 Eye: si. 10 Catch of a buckle 15 Chew: 19 Levelling tool 20 Goes wild over 22 "Better to have and lost..." 23 Girl of song 24 Apart 25 Once upon 26 Eaten away 27 Irish patriot 28 Handle a sit- uation well 31 Jewish month 32 Tea leaf reader 33 Walter Army Hospital 34 Rowed 35 Cash drawer 36 Takes an oath 38 Poker stakes 39 What beggars can't be 1 Boxes 2 Girl's name 3 Creates a disturbance 4 Assumes re- sponsibility 5 Athletic event 6 Kitchen tools 7 Pottery wheels 8 Covered by vines 9 Reminder 10 More apparent 43 Sentries 45 Additional legal clause 46 All shaven and 47 Edible pod 48 Took to (fancied) 49 Lowest point 50 Talk medium 51 Prejudice 52 Printer's symbols 53 Intertwined 54 Window covering 55 Pistols for two 56 Before 57 Except 58 60 grapes 62 Cupid 63 Legal claims 65 Sharpens a razor 67 Bits and pieces 71 Grande 72 Stumbled 73 Feather ornament 75 Lure 77 Favorite 78 Money- raising device 80 Vapor 82 Steam bath 84 Nimble 85 Entranced 87 Jewish leader 89 Reach 90 Insurance abbreviation 91 Deteriorate 94 Split 96 Attended a conference 98 Music symbol 100 In (boring routine) 101 Whimpers 102 Frantic 103 Ornamental cloth (for 104 Suit 105 Mr. Gantry 106 Hinder DOWN 11 Arabs, e.g. 12 Sidestep 13 Mexican coin 14 Eve's initial turf 15 Desert animals 16 Eats (is apologetic 17 Surface 18 Sheriff Dillon 21 Agreeing 23 Injury 29 Ceremonial veil 30 Humor, with "to" 35 Ripped 37 Eternities 38 Assistant 39 Karate blow 40 Sharpens a razor 41 Genuine 42 Backtalk 43 Dance step 44 Sapphire 45 Poe title, with "The" 46 Figure 49 Writers' output 107 You hate to see him twice a year 108 Item in 74-D 110 Flower leaf 111 Threat 112 Intellect 113 Leaf 114 Roof edge 115 Cutting tools 118 Audible 120 Seems unbelievably fortunate 124 Capital of a NW state 125 Snubs 126 Prance 127 Middle fingers 128 Copper-based colors 129 Cotton thread 130 Cubic measure 131 Customers 132 God of war 133 Anesthetic 134 Sonnets 135 Straw: obs. 50 Trims 51 Raymond or Aaron 53 Bemoan 54 Condemn 55 Mussolini 57 Slumber 59 Point of compass 61 Native of Campania, Italy 62 Use poor judgment 64 Asparagus 66 Dim-witted 68 Shipshape Diagramless 19" X by Anne Halloran ACROSS 1 Tree trunk 5 Boast 9 Overhanging roof edge 10 Fuel 13 Body radiation 14 Region 15 Enjoyment 18 TV's Garry 19 Hive occupant 20 Finds fault 21 Long story 24 Sailor 27 Common metal 28 Flooded 31 Congeal 34 To be: Lat. 35 Dr. Norman Vincent 36 Police entrances 38 CoHjfTtrwst Sullivan 39 Place of torture 41 Concerning 43 Minute groove 44 Keep away from 46 Church recess 49 Never- theless 50 Wild time 51 Tree fruit 52 Mr, Link- letter 53 Small branch 54 Conserve 58 Miser- ables 60 Jeweled hair ornament 62 Across an ocean 67 Got up 68 Pointed fastener 69 Studies 70 Pigpen 72 Skin 74 Scientists' workshops 76 Sixty min- utes hour 79 Sigma Delta Chi 81 Judge 69 Stubborn 70 Highest point 71 Poplar or hemlock 72 Turf DOWN 1 Garment joint 2 Counter- weight 3 Smooth 4 Pork or veal 5 Uncovers 6 Wagon track 83 On the move 84 Allergy determinant 86 Hitchhiker's indicator 88 Doesn't know what to do 91 Nutty 92 Iroquoiarr 7 Semite 8 Merry times 10 11 Soon 12 Greek porcn 16 Unit of work 17 Approaches 22 Angeles 23 Direction; abbr. 93 What dull skating blade does 95 Nautical term 97 Cain's victim 98 Pineapple 99 Carney, for one 24 Yawn 25 Was in debt 26 Cry of sheep 29 Narrow opening 30 A Ford 31 Huge 32 Hearing organ 101 In me black 102 Replace a label 103 Cygnus star 105 Solo musical pieces 106 Usurper 107 Dedicates 33 Passenger ship 37 Bird of peace 40 Expres- sion of disgust 41 German river 42 Unwoven fabric 109 Dishevels: dial. 110 All of us 111 Victor 113 Hideaway 114 Son of Edward the Elder 116 Jug with handles 117 Take legal possession 118 Eban 119 Dormouss 120 121 Lee way for a tight skirt 122 Premmger 123 Flightless birds 43 Noncom- missioned officer 45 Miss Gardner 46 Clever 47 Church seat 48 Ship's canvas 54 Not fresh 55 One: Scot. 56 Flat tubs 57 N.Y. canal 59 Leading player 61 Perform 62 Snare 63 Edible 64 On deep water. 65 Nearest ia time 66 Untruth SOLUTIONS OF LAST WEEK'S PUZZLES nmn ntnnn nnrara nnnon nrnnn nnnn ana nmnn nrannn nnrara aaaaa Hnnnn nnnra nnnnn mnnnn oanran nnnrn QQflCJ DQQDQD QOO son ana ciem BDBBGI CRYPTOGRAMS 1. E GROOM AS IWO BOOM AP FUSED PANSER IU CAN PWAM AS BESNOD. -ByLoisJonea 2. UIFSEA FOR THEE BIR DSYDER PHYBLO IFSUR H PLOLPSP TFOAFPLOLSP? India M. Sperrj nnn nnnnno nnnn nnnnn rannnn nncin a Hnnnn nnnn ma nnnn DQH ana nnnnnnnonrnn nnnnn nnnran nnnn nnnn nnn nnnnnnn nrann nnnnn nnnnn FIQBD BQBDB QHBH QBG rnnnnn nnn RDO ona HMOOH nnnn nnnronnn BBOBD sman nnn nnnnnnn nncinnnn nnn nnnnnnn nnnonnci nnononn nrannanH nnnnnnn nnnnnnn Finnnnnn nnnnnnn nnnnnnn TWEETY ORA ARE ARRO OWYE. Last Week's Cryptograms 1. As ungry ram said yigoronsly to sheepish ewe: "Don't try to pnfl the wool over my 2. Arrested mobsters' cold, embarrassed faces felt red as lobsters. 3. Nice winner won one car race. 4. Sacred cat scared rat. 1973 by Chicago Tribune-N.Y. Nww Synd. Inc. WbrMjiights Reserved ;