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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 24, 1970, Lethbridge, Alberta Stock Market Drop Continues TORONTO (CP) The To- at the same time Tues- ronto stock market moved day. sharply downward in light mid- morning trading today. On index, industrials dropped 1 71 to 152.49, golds .25 to 152.85, made under pressure iromvvi base metals 1.07 to and Street is temgsharpty Losses outnumbered gains 138 to 23 with 119 issues unchanged The downward move is beuif made under pressure from Wai western oils 2.99 to 130.25. This was the third cunsecutive losing session. Volume by 11 a.m. was shares, down from Grain Prices Winnipeg Grain Prices WINNIPEG (CP) The July future in rapeseed was down as much as 15 cents on the Winni- peg Grain Exchange today as traders looked to the Novem- ber and January futures sell- ing 45 to 55 cents below the July price. A keen demand for flax had prices on a strong pattern as shippers actively bought in all futures. Oats, barley and rye were all inactive with prices steady at previous close levels. Volume of trade Tuesday in- cluded bushels of flax, of rapeseed and 000 of rye. Export loadings of Canadian wheat Tuesday included 160 bushels to China, to India, to Japan and to Bussia. Prices for class two wheat for export to countries outside 2 3 1 durum 2 3 1.6254; 4 IGA prices: 1 nor 2 3 4 1 durum 2 1.72'A; 3 4 halt IGA: 1 nor 1.74 1.6316; 4 High Flax Jly Oct Nov Dec Rapeseed Jiy Nov Jan Mar Oats Jiy Oct Dec Barley 272V4 271 267 Low Close 291% 290 271% _____266% 264% 263% 264 304 287% 287% 254% 250% 25lVs 240V4 237 236 236% 75Vt 75 75V4 76% 76V4 76Y4 Oct Dec Rye Jiy Oct Deo 109V4 109% 109Y4 110% 110% ------110% 97% 97% 97% 102% 101% 101% 104 103% 103% Marathon Plans Development At Toronto TORONTO (CP) Marathon Realty Co. Ltd. announced plans GUM GOES UP Tuesday for a resi NEW YORK (AP) The dential-commercial d e v e 1 o p price of chewing gum has gone ment on Yonge Street in the up here. A spokesman for Beech mid-town area about two ma3o Nut, Inc. said the suggested re- north of the Lake Ontario shore- tail price .of its gum has risen to line. seven cents a pack. It used to The project will span a rau be a nickel. Beech Nut said in- way, which will be covered at creased prices for raw materi- cost of about to fi ate and higher labor costs into the scheme. The development on a 19-acre site will be dominated by a 35 storey tower of luxury apart LONG EATERS merits and shops. At the peak of Roman aiflu- When completed, it will prov enee, spendthrifts turned din- ide accommodation for aboii ners Into all-night banquets persons, where guests reclined on sofas Marathon is the real and ate boiled ostrich, flamingo arm of Canadian Pacific Invest tongue and fricassee of roses ments and has its head office in with pastry. I Calgary. forced an increase in wholesale prices. Largest declines at Toronto were in beverage, industria mining, merchandising am paper and forest sectors. INCO AMONG LOSERS Among losing stocks, Inco was down to Price Co to R. L. Grain to 13 Pacific Pete to Moore to CPR to 53% and Aquitaine to Sherritt lost to 18, Lake Du fault Vt to 16 and Cassiar tc Trading was halted in Chrys ler shares this morning aftei the New York Stock Exchange halted trading at opening. About 200 Chrysler shares were sold at 18% before the alt. The exchange interruptei trading in Chrysler for about one hour Tuesday after the company released a statemen saying it was operating on a profitable basis and expected a small second-quarter gain. Observers termed the state, ment "highly unusual." Trading was also halted in James United Steel, pending an announcement Thursday. The stock las traded at share. MARKETS CLOSED MONTREAL (CP) The Montreal and Canadian Steel Exchanges and produce and livestock markets are closed to- day to mark the St. Jean Bap tiste Day holiday. MAKE COMEBACK NEW YORK (AP) Th stock market recovered much o its sharp early losses in moder ately-active trade today. By noon, the Dow Jones aver age of 30 industrials was off 0.4 at 697.70. Earlier it had been of more than eight points. Among Canadians, Mclntyri Porcupine fell Distiller, Seagrams Dome Mines, 3; Granby Muling 1, Hudson Ba; Mining and Inco On the American Stock Ex change, Preston fell an Scurry-Rainbow NEW YORK STOCKS Supplied by Richardson, Securities of Canada Amr T and T 41.12W Mont Ward Anaconda ........23.50 Sears Bth Steel Std Oil of NJ. Chrysler 18-50 Texas Gulf Comsat Texas Co Dupont 117-00 Wolworth Gen Motors Gulf 23.25 Int Harvester 23.50 dl.25 20 Golds 153.57 Up .47 Base Met 90.45 off 7.1 56.00 IS West Oils 132.49 off .7 115.50 Volume YORK AVERAGES 30.25 30 IndUSt 699.93 up 82 West EICC 63.50 20 Rails 131.43 off 1.05 US. Sieel 31-50 15 Utilities 97.0] up .2! TORONTO AVERAGES 65 Stocks 220.77, Off .16 Kenn Copper !0 Indust 153.65 off .55 Volume STORE FOR RENT GOOD VOCATION ON 5th STREET SOUTH Suitable for shoe stora or ladies' wear store APPLY: Stan's Men's Wear 321 5lh St. 5. 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 LTD, 709 Slh Ave. S.W., CAIGARV, Alberta. 263-5683 (403) Farm Hand Loses Suit For Slander EDMONTON (CP) An Al- berta Supreme Court judge has ruled that an accusation of theft by one person against another need not constitute slander, even though it de- fames the person accused'. Mr. Justice W. R. Sinclair drew from a ease in 1855 to support his ruling in a claim for damages recently brought by an Edmonton dis- trict farm laborer against a former employer. Donald Lloyd Jinkerson, em- ployed to care for a herd of pregnant mares used to pro- duce urine for pharmaceutical manufacturing, claimed that he was slandered when ac- cused stealing quantities of the urine. Daniel L. Lybbert, who with another fanner employed Mr. Jinkerson, testified that he questioned the man about loss- es of the substance, noticed over a period of time. Mr. Jink- erson testified he was accused of and had denied the theft. Mr. Justice Sinclair said that a defamatory statement was made against the farm laborer but ruled that Mr. Lybbert was genuine in his belief of the theft and, citing the case in 1855, that the accusation was privileged because the farmer had a material interest. LIVESTOCK Lefhbridge livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 110 cattle. Heceipts mostly slaughter cattle. Trade slow. Good and choice butcher steers under pressure. Prices 50 to 75 cents lower. Medium grades 50 cents or more lower. Good and choice butcher heifers meeting fair demand. Prices1 25 to 50 cents lower. Medium and good cows 50 cents to lower. Canner and1 cutters steady. Me- dium and good heavy feeder steers 50 cents or more lower. Choice steers 28.75 to 29.40; good 28 to 28.50; medium 26.50 to 27.50. Choice heifers 26.50 to 27.10; good 26 to 26.50. Good cows 21.50 to 22.60; me- dium 20 to 21; canners and cut- ters 17 to 19.50. Good heavy feeder steers (over 900 Ibs.) 28.50 to 29.50; medium 27 to 28. Butcher hogs sold Tuesday f.o.b. Lethbridge 28.65 to 28.90 base price. TKare were 100 hogs sold for export. Price converted to 23.20 liveweight. Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about head, mostly steers and heifers of mixed quality. Trade was1 mod- el ately active. Slaughter steers sold 75 cents lower with sales to 29.60. Heif- ers were generally 25 to 50 cents lower. Cows were steady with the week's lower levels. No bulls were on offer early. Choice steers 28.50 to 29.30, good 27.50 to 28.25, medium 26.25 to 27.25; choice heifers 26.25 to 27.30, good 25.25 to 26, medium 24 to 25; good cows 21.50 to 22, medium 20.25 to 21.25, canners and cutters 18 to 20. Replacement cattle were mostly fleshy steers weighing more than 800 pounds and sell- ing easier. Good feeder steers under 700 pounds 30 to 32.70, over 750 pounds 29 to 31. There were no stock or slaughter calves on offer. Hogs f.o.b. Calgary to 11 a.m., base price 28.35. Hog Prices EDMONTON (CP) Hog prices to 11 a.m. supplied by tho Alberta Hog Producers Marketing Board: Edmonton: Quoted 28.30. Tuesday's average 23.49. Red Deer: Quoted 28.35. Tuesday's average 28.55. Calgary: Quoted 28.35. Tues- day's average 28.59. Lethbridge: No sales. Tues- day's average 28.67. Lloyd minster: No sa Tuesday's average 27.96. Sows'Tuesday 414, average 20 to 22. Hogs sold Tuesday average 28.50. DIVIDENDS By THE CANADIAN PRESS Hudson's Bay Oil and Gas :o. Ltd., common 25 cenls, July 27, record June 30: pfd. 62% cenls, July 15, record June 30. Inland Natural Gas Co. Ltd., pfd. 23 cents, July 15, record June 30. Potato Futures WINNIPEG (CP) The Wart- imes potato futures market was nactive Tuesday. Open High Low Close Mon. Vov 2.30A 2.30A tor 2.GOA 2.60A MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Dohcrty, Rondhouse and McCuaig) LAST WD OH SALE a.m. Quotes) o.m. Quotes) a.m. Quotes) WESTERN OILS 3.85 7.80 2.75 3.35 6.20 5.75 8.00 Almlnex Asmera Banff Cdn Delhi Cdn Exp Cos Cdn Grigol Cdn Home Cdn Ind Gas Cdn Long Is Cdn Super Cent Del Rio Chleftan Dynam Pele French Pete Gt Plains Mill City North Cdn Oil Numoc Permo....... Pelro! 1 Pinnacle Place Gai 1 Ponder Ranger 8. Scurry Rain 15. Spooner 1. Triad'........ 3. West Dec 4. MISCELLANEOUS INDUSTRIALS Atco Ind Aquataine Brit Nfld Cdn Brew A Cdn Pac Inv Cygnus A Kiilser Res Kam Kollo LJiKc Ont Pt Newconcx 1J.12V2 Gr Income Sh 2.74 3.00 Foe Pete Rank Organ Shell Inv..... Shell Inv Pfd Shell Inv V.'ts Sicks Ranier West Cdn Sd CALGARY Acroll Ancic Pcto Borons Oil Norlh Cont Plains Pete .21 West Warner Leduc Calm .6: Madison .......1' QuinnlM .......o; Kexdale .......li PIPELINE STOCKS Gas Tr A 40.50 Inland Nat Gas Norlh and Cen North and Cen B G.-JZ Metro Tr Cdn Pipe 25.25 Tr Cdn Pipe2.80 37.00 Tr Cdn Pipe A 51.00 16.62Vi Tr Cdn Pipe War 6.60 Tr Poirie Pipe 11.00 2B.OO Westcoast Tr 16.25 22.00 western Pacific 4.20 -S.15 MUTUAL FUNDS Invest Gr 1 95 Invest Mut 46 !OS Venture Mut AC Fd 20 12V'i Mut Gr Kd Mut Income 9.50 10.39 d.62 5.06 299 3.27 4.61 4.16 4.63 Resources 6.37 6.90 2J.OO 9.90 7.25 1.15 4.75 18.25 1.20 4.85 24.00 Prin Growth 9.95 Prov Mulual Regent Fwd 1 10 Roylund United Accum ,85 VANCOUVER Anuk Arctic Mining Atlas Explor Belh Copper Bornitc Ridga Block Bros Brenda Brenmac B.C. Sugar Capt. Inter Churchill Cop Cresfbrook For Croyden Dolly Varden Dynasty Endako Futurity Giant Mascot Key Indust Hy's Interior Brew Jericho Kamloops Cop 3.49 3.83 5.81 6.35 7.09 7.75 4.63 4.77 4.05 4.45 .07 .06 .03 9.00 11.25 25.50 3.35 .M .19 .91 T3.75 .73 2.90 1.00 .52 16.00 2.S5 3.60 7.30 12.00 .23 2.90 .37 2.75 3.90 .10 .10 Cygnus B..... 4.00 A.G.F. Special 2.07 Lornex 4.93 Cdn Oi Gt Cdn Oil Sd Home A Home 3 Hud Bay Co Hud Bay Oil Hud Bay Oil Hugh Rus Pfd Husky Oil Husky oil war. Int Pro Pipe Int Steel Jeff Lake Joutel 3.90 All Cdn Com 96.00 All Cdn Div -Al Cdn Ven 15.00 Amer Gr Fd 11.25 Cdn Growth 36.12V1 Cdn Invest Fd 48.00 Collect Mutual 20.00 Comi 8.12V3 6.04 6.60 Lytton MIn 7.0.1 7.69 Mt Wash 3.10 3.39Madrona 4.19 4.60 New Crori'n 4.65 5.11 New Imp Mines 3.94 4.32 Okanagan Hel ___ _____ 4.93 5.42 Primer 11.0512.11 Silver Std Lev 2.69 2.V5 TC Explor........ 2.45 Corp Invert 4.72 .5.16 8.20 Dreyfus Fd U.S. 9.50 10.41 Western Mines Northwest Fin 3.39 3.73 Westcoast Res 8.25 Northwest- Gr 3.92 4.31 Western Explor 1.17 Growth Equity 5.35 5.87 Utica .07 2.00 2.90 .16 1.37 .3B .50 4.10 .29 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) IMDUSTRI Abltibi Alcan....... Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil Trac B.C. Td Burns B.C. Foreest 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....... Cons Bath Cons Gas Dist Sea Dom Bridge Domtsr Dom Textile Dom Stores Dome Peie Fam Play Fd of Arner Gt Cdn Gil Gen Motors Gt Lakes Psp Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial' Oil Imperial Tob Int Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Loeb....... Loblaw A Metro Stores Massey Ferg McMillan Bios Moore Corp ALS 7.50 22.00 8.00 5.75 41.62Vz 13.50 58.75 7.75 23.00 16 25 4.10 6.50 5.00 21.75 1.10 10.00 8.25 20.00 3.25 6.25 1B.OO 53.75 21.75 12.25 jjj.rm 14.00 13.50 9.50 15.62V3 J.1 lu'.'-j. 9.00 -13.50 3.EO 63.00 18.00 "M.BT'.'a l.SO 1S.62K 13.25 46.37'.'; 6.12 V'z 20.75 14.50 .1.05 6.00 4.25 6.00 17.00 9.12'A 23.25 29.50 Molson's A Molson's B North, Cent Pembina Pp Power Corp Price Co..... Shell CDA Simpson's Steel of Can Selkirk A TCXGCO Traders Gp A Trar.s Mtn Pp Trans Can Pp Unicn Gas Union Oil Versatile Wosteel..... Union Car V.'eston's B Woodward's A West Cdn Sd Zenith Elec BANKS Can irnperia! Montreal Nova Scotia Royal....... Tor-Dom East Sullivan Falconbridge Frobex First Maritimes Giant Gortdrum Gunnar Granduc 15.25 Headway R.L. 21.37V2 Hollingcr 12.75 13.25 11.25 16.75 6.00 7.25 9.75 Acm MINES Advocate Asb. Akaitcho Area Kines Belcher Iron Black Bay Brslorne Brnulan Bethlehem Brunswick Canada Tung. Cassiar Central Pat. Ctiirno Comvost Cons. Rambler Coin LaKe Ccchenour Crajgmcnt Dickenson Mine Denison Mines Deer Horn D'Eldona Dome Mines Donalda Discovery AAlna East Malartic Hud. Bay M-S Hydra Ex..... Highland Bell Iso.......... Joltet Quebec Kerr Addison 31.12V2 Key Anacon 2.65 Labrador..... 1ftfl" Lake Shore Langis Silver Macassa..... Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Mela........ Midrim....... Intern Mogul New Athona New Calumet New Imperial in Noranda Norihgate Opemiska Osisko....... Patino....... Pine Point Placer Dev. P.C, Exp...... Quebec Man Rayrock Radiore Algom Roman Corp. ,.JU Silvertields Sherritt Gordon .68 Silver Miller .15 Steep Rock .43 Siscoe....... Tek Corp..... 1.75 Texmont..... 22 50 Upper Canada Western Mines Wright Har. Willroy....... Windfall Yellowknife Br. Zenmac 10.50 22.00 8.75 1-1.75 25.25 12.75 11.50 21.50 14.75 2.10 1.25 19.50 15.00 16.75 20.75 1.90 .40 1.90 1.50 19.50 2.60 1.36 .29 1.35 2.60 29.75 l.lfi fl.OO 3.65 1.05 1.25 11.50 27.25 .22 2.75 1.5B 2E.QO 3.55 .07 1.30 11.50 161.50 9.00 .18 2.01 27.25 13.50 .30 34.0Q 30.00 30.50 .67 .20 1.25 .28 5.75 1.75 18.00 .0814 3.15 2.10 5. HO .51 1.40 4.05 1.55 1.29 4.25 Million Loss For Oil Sands ___Wednoidoy, Jun. 24, 1970 THE IETHBRIDGE HrRAlD 2S Macleotl Flans Celebration For Centenary In 1974 TORONTO (CP) Great Ca- nadian Oil Sands Ltd. of To- ronto will have a loss of about in Uie first six months of 1970 compared with a loss of more than in the similar 19C9 period, Kenneth F. Heddon, president, told the an- nual meeting here. Oil production at the com- pany's Athabasca oil-sands pro- ject in Alberta to June 15 was about 50 per cent ahead of that of the similar 1903 period and more than 3Vi times that of 1968, he said. Average daily production dur- ing June to date was more than barrels, slightly above the company's authorized daily out- put rate, Mr. Heddon said. Shareholders approved a new financing plan in- volving the reclassification of unissued preferred shares into common shares and the purchase by Great Canadian Oil Sands' par- ent, Sun Oil Co. of Philadelphia, of of the new common shares at each. The Sun Oil purchase gives it ownership of 95.4 per cent of Great Canadian's issued stock. Beef Futures WINNIPEG (CP) Trading in the Winnipeg live beef futures market was light Tuesday with some activity in the July and September futures. Open High Low Close Mon. Jly 30.50 30.70 30.50 30.70 30.50B Sep 29.45 29.45 29.45 29.45 29.27N Nov 28.80N 28.80N Jan 28.80N 28.80N FORT MACLEOD (HNS) Preparations are now under way for Fort Macleod's 100th birthday, to be celebrated in 1974. The "homecoming committee 1974" wants to get in touch with as many former residents of the town as possible in order to invite them back for tlie celebration. They appeal to anybody who once lived here, or knows of families who did, to send tho names to Mrs. W. (Jessie) Heath, Mrs. W. II. (Millie) Bennett or Mrs. T. A. (Gladys) Little. Former residents will be con- tacted 12 months before the an- niversary. Now in jethbridge Businessmen requiring term loans for sound business purposes are invited to discuss their needs at the recently opened IDS office, in Lethbridge... IDB can lend to almost all types of tourism, professional services, wholesale and retail trades, manufaa- turing, etc. Ask for our booklet. INDUSTRIAL DEVELOPMENT BANK TERM FINANCING FOR CANADIAN BUSINESSES LETHBRIDGE, ALTA., 740-4th Avenue, South Telephone: 328-9631 'NEW USEO CARS UNITED MOTOR CO. LTD. RECORD BREAKING SPRING SALE IS ON! Check these typical examples of the savings in store for you nowl 1966 FORD GALAXIE 500 Convertible, V-8, cuto., P.5., ALL PRICES ARE SLASHED ON OUR ENTIRE INVENTORY OF USED CARSI 1967 CHEVROLET SEDAN V-8, auto., radio 1963 RAMBLER AMERICAN 6 auto., radio 1969 OLDSMOBILE Sedan, like new, age, 455 radio. Everything only Phone 327-2805 I960 GENERAL MOBILE HOME Fully equipped, 8' x 28' only 1966 TEE PEES TRAILER 16 fool model, fridge, heotBr, brakes, awning, only 51497 low mile- .nolor, P.S., LOWEST BANK RATE FINANCING ON-THE-SPOT APPRAISALSI Corner 3rd Ave. and 3rd St. S. Lethbridgs ilfd Motor Co. Ltd. s Our FIRST ten years ago still FIRST today DOUBLE LOAD WASH! It's our birthday and we have a cake. You get the frosting by coming in this week from 9 a.m. HI 5 p.m. for a FREE giant double load wash wifh our new deluxe equipment. COME ON IN to cfcaHCdt iwwk ui And that's not all fc: FLUFF DRY More and more people are saving washday work, time and money, while enjoying the pleasant atmosphere of our King Koin Launderette. How about you? You'll be amazed at the new 2-wash, 4-rinse commercial automatic washer that cleans most anything from bridal veils fo shag rugs. Come in this and take advantage of our free Anniversary offer. We're open always for your convenience. Try iho famous King Koin pre-wash that means a laundry for you! Pre-conditions your clothes bctler than overnight soaking. Featuring both single, double and fop load washers. cleaner actually The 1263 3rd Avenue S., Lthbridge ;