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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 24, 1974, Lethbridge, Alberta LETHBRIDGE June TSE prices drop in light trading TORONTO (CP) Prices on the Toronto stock market were moderately lower in light midmornmg trading. The industrial index, widelybased indicator of market trend, fell .39 to 187 64, golds .85 to 433.24, base metals .20 to 81.35 and western oils .70 to Id3.89. Volume by 11 a.m. was 000 shares compared with 347.000 shares at the same time Friday. Declines outnumbered ad- vances 95 to 65 with 129 issues unchanged. Great West Life fell V2 to Westeel Rosco Vz to Dominion Textile to Gulf Canada to and Baton Broadcasting 35 cents to Banister gained IMt to Aquitaine to and Unicorp Financial 10 cents to Dickenson was down to Camflo to Fur- sides Mines 10 cents to Bankeno Mines 10 cents to and United Canso to Tribag was up two-and-a- half cents to 41 Vz cents. New Kelore two cents to 34 cents, Francana Vi 10 Chieftain Vj to and Lochiel five cents to Market trends iCJ'i The- Monircdl Stink Kv lunge dosed tor the Quebec wide celebration oi Si B.iptiste UiH Other businesses ilnoiiylinut the province ;ire also tor the iinnual provincial OI i( I'i Prices uere up in liLjht trjdin" tockiv on the Vjm.iir.t'i Stock 1-Aclunge First-hour utis 42S Chares In the i ml u s 1 r i a 1 s Venture piupei lies rose (ine cent to 48 on .i 000 slhii cs In the mines t'onsoluldted Fortune c Iwiini i down 05 to M) on 28 000 shell es In the oils 1'avette River was down (Hi .11 4K on 000 -nare.s On I ridjv pruts were mixed in model, He trading at the siink hanue at the close ujs 2 htoh shares In [In- imiusinjls Block Broi KJ.S (Invvn Hltiotonh iUOshdres Canterra was down HI io VI on 4000 shares enture unchanged at un i 500 shjics rjnjdun Pacific uas tin, hanged at si 15 on 2 100 shares national idiui unchanged at H" and Portcomm was unchanged at In the oils Pavette was down 10 to Chares Part-tie Warrants -Ai-ii- down 2.! at on 59.000 U.iii 01 M 86 on 48666 shales dinvn at 3b nn 27 shares Seneca was up Ob at and Kxploration was unthanged at Oi YORK i API The stock market slipped another notch todav under the continuing pressure ot rising interest rates The 11 30am Dow Jones average of industrials was down 1 09 at 814 30 and losers opened up a three-to-two lead over gamers on the .New York Stock Exchange Just before the opening bell, the First National Bank ol Chicago increased ns prime lending rate from 11 5 to 11 8 per cent Boston Edison was upl at S15'.: after the companv declared its regular quarterly dividend its latest price today and at a dividend rate ot 61 cents a quarter. Boston F.d'stm stock carries an annual dividend weld ot 15 7 per cent National IV.ion Electric was the most active NYSE issue, unchanged at s27'j Electrolux ol Sweden is offering ?2S a share for all of National t'mon's stock SuCrest rose 2- to 514 Among Canadian issues. Dome Mint's It'll ont1 tjnd une-nalf dollars to M7-i Inco 'i to S351! Mclntyre to ViV.. Hiram Walker 'i to Mean and Canadian Pacific were unchanged ot and respectively Winnipeg grain Most prices advamed -ironglv m active trade at mui session todav on tit" CommiKinv Exchange Flax advanced its W-cent maximum in sume months and several rapeseed month-- turned their 20-cent limit live was s. cents higher in all montns u aded l-ndav s volume ot trade was 1 601.000 bushels of rve 593 000 of flax am! i Dili) ot rapeseed Mnl stsxii.n prices .lulv HI cents higher !02b Oct 18 higher 9 2bB iJi-b higher IIH Kiipeseid X .incomer June iinrlwimed 7 IW Sept 20 hifeher 7 SB. 211 higher b 511 ,B Jan 20 higher b IbB K.ipescvd Thunder I5a> Juh !J luv.i-r 7 48-ili Oct 14'j b it) in (uglier b 22 iB. Dec unrh.inKfil 5 TUB KM Juh b'_ bmhei .'.14'jB Oct nine limlu-i J M'j. Dec 8' i higher ,1', unclkinucd 291B Dividends B> THE CANADIAN PRESS Dividends are quarterK unless otherwise noted BBC Realty Investors, units. 23 cents. Julv 31. record June 28 BP Canada Ltd., cents 5-per- pid 25. both payable July IS ic( or'! June 27 Haves Dana Ltd., class A. six cents, class B S i cents both payable Sept to record Sept H Maple Leaf Gardens Ltd.. 25 cents. Julv 15. record July 5 McGraw-Hill .Kjerson .Ltd.. cents July 15. record June 28 Price Co. Ltd.. 20 cents, an increase of five cents 1 record July 2 Toronto Star Ltd.. class B. five cents class r 4 i cents, both pavable Julv 15. record June 28 I'nion Gas .Ltd..-.5-per-cent pfd scries C. B2'j cents. Sept 30. record Sept B Bathurst Paper Ltd.. 5! i-percent ptd 26'i cents. Sept 1. record Aug.2 Metals (losing huf in pwmis sterling a metnr sihcr in a ounce Copper Spot 991 -993 futures 983-984 Tin ;i 735 futures :i 8K- K3S I.rad luturo 239-240 Zinc -pot Sihcr SJM.I I'JT 3 month1: 204- Currencies VIVTRKM. rr> "vhangc rates -'.pphci! M Kink oi Montreal Timidi duller I -01 fr.jnr-- 2fen ni.trl> .WHO Bow Vallev Industries Ltd T1--per- cent p.fd series A 27'; Julj 15. record June 28 Celanese Canada Ltd.. 10 cents. .Julv 5 record June 28 SI 00 pfd 25 cents. SI 75 pfd 43 -s cents, both pavable Julv 2 record June 28 Consolidated Bathurst Ltd.. 50 cents, a decrease of 25 cents. 9. record June28. Dec 20. record 22 6-per-cent pfd 38 cents. Aug. 1. retord Juh 5 Consolidated Building Corp.. five cents semi-annuaiiv. Julv 25. record Julv 10 Doman Industries Ltd.. 20 cents 11. record Julv 1 Dominion and Anglo In- vestment Corp. Ltd.. 5-per-cent pfd Si 25 Sept 1 record Aug 15 Dominion Textile Ltd.. 15 cents. 7-percent pfd SI 75. both patdbie Julv 15 record June 27 Gcrin Ltd.. 7-per-cent pfd. 17': rents Julv 15. record July Huron and Erie Mortgage Corp.. 3d cents On 1. record Sept 7 Inland Natural Gas Co. Ltd.. >per- rent pfd 25 cents Juh !5. record June 28 Livestock Calgary ''.T inn Changes in fruit industry okayed FENTICTON. B.C. (CP) Significant changes in the organization of the truit industry in British Columbia were given approval in principle here Saturday at a special general meeting of the 3.000-member B.C. Fruit Growers Association. One change would require any grower wishing to sell his crop outside the grower- owned central selling agency, B C. Tree Fruits Ltd., to opt out for a five-year period. Likewise, those choosing to market through the agency would pledge to do so for five years. The regulation would apply to sales outisde the province, not local sales from fruit stands operated by many orchardists. Recent provincial marketing legislation changes allow a grower to opt out of selling through B.C. Tree Fruits. The five-year period for those selling through B.C. Tree Fruits is designed to give stability and the five-year opting out period was felt to be "only fair." Growers said they did not want to support the central selling agency for some other growers to "hop in and out of." A second change called for the amalgamation of the Board of B.C. Tree Fruits processing arm Sun Rype Products Ltd. and the B.C. Fruit Board. The change is based on the feeling by the BCFGA executive that the amalgamated board would be stronger and more effective in performing responsibilities in selling based on voluntary participation. The third change is a technical one involving the concept of management contracts between the shipper and the industry sales agency. It provides that the shipper must adequately service the produce of the grower with whom he contracts and is also responsible to the sales agency for his operations. The changes now will be brought before the BCFGA's next annual meeting in January. 1975, to be given final consideration. Fix on copper prices suggested at meeting LUSAKA. Zambia (AP) Premier Mainza Chona of Zam- bia told other copper- producing states today they should band together to fix copper prices, much as oil producers have done with the price of oil. In a talk opening a conference of the Inter governmental Council of Copper Exporting Countries, Chona referred to the success of the "oil and advised the council to adapt the oil tactic to suit their own conditions. Chona bitterly attacked the London Metal Exchange for al- lowing speculators to set copper prices. He told the council, known as CIPEC for its initials in French: "The time has come for speculators to be told that the copper producers have had enough, and I hope this conference will start the initial steps to get that CIPEC was formed four years ago in Lusaka by Zambia. Zaire, Chile and Peru, four of the world's major copper pro- ducers after the United States and the Soviet Union. Chona urged that membership now be expanded. Crops prediction may be revised WASHINGTON (AP) United States government farm experts may soon revise downward earlier predictions that 1974 crop production is headed for records. Sources in the agriculture department say closed-door Lone protest CALGARY A 27- year-old employee at Firestone Tire and Rubber Co. continued to sit on top of the company's 200-foot-high water tower through the weekend to draw attention to a contract dispute between the company and its 240 employees Dave Schiedei. talking to reporters Sunday via a walkie- talkie from his 10-foot perch atop the water tower, said he was in fine spirits. Mr. Schiedei climbed the tower Friday morning with food, water, a sleeping bag and other essentials. meetings were held in recent days in which officials examined new evidence that the U.S. corn and wheat crops will not be as large as indicated earlier. The huge grain harvests have been counted on by the administration for rebuilding stockpiles depleted by two years of record exports and to make more raw materials available for consumer food supplies through 1975. No one expects revisions to show disastrously low levels of supply, but any dip in anticipated harvest yields will have long-range impact on U.S. and world food supplies. Order planes SEATTLE The Boeing Commercial Airplane Co. says Air Canada has ordered six additional advanced 727 tnjets. The man from C.A.S.E. seeks recruits Gov't has jobs for 'retired' city businessmen By RUSSELL AUGHTREED Herald Staff Writer If you're a retired businessman or professional with some extra time on your hands, the Man from C.A.S.E wants you. The man from CASE (Counselling Assistance to Small Enterprises) for Southern Alberta is Jack Oberholtzer. 60. himself retired. Jack is seeking recruits for the three-year-old brainchild of the federal department of industry. trade and commerce And Jack wants only retired people Why9 "Anyone that's done business for 25 years must know something be can pass on to small businesses." he says. Retired people, he adds, are eager to help, have flexible schedules and are more than willing to work on a company's problems for the consulting fee. CASE counsellors "provide low-cost to small businesses, denned by Ottawa as having "no more than 100 employees and no more than SS-million sales a year." CASE counsellors currently advise only tourism and manufacturing industries, but it won't be long until CASE will consult in all areas of business. Jack predicts. CASE now has 35 counsellores working part time in its Calgary office and 45 in Edmonton, but none in Lethbridge. CASE has received a number of enquiries from Lethbridge and is counselling one city firm. Mr. Oberholtzer addressed members of the Chamber of Commerce while visiting Lethbridge. "We hope to have 100 counsellors by September." the man from CASE says Counsellors now on staff include bank managers, personnel managers, accountans, oil executives, two car dealers and one steel fabrictor all retired, of course. Since the Edmonton office opened four months ago. CASE counsellors have advised businesses making everything from clothing anc soft drinks to skiis and commercial signboards. One CASE success story involves a small company near Calgary employing about 35 people. A young, enthusiastic owner had invested about S20.000 Jack says, only to discover he had debts totalling The unhappy young entrepreneur for help. The counsellor in this case. Jack said, met the young owner. After a meeting of minds. Jack drew up a consulting contract and the counsellor, a retired accountant, plunged into the books. It took the CASE counsellor three weeks to tidy up the company books, at a cost of about If you think Jack wants you. give him a call, toll-free, at Zenith 2-2025. Britain facing drought? LONDON (Reuter) Britain may become a land of drought broken only by violent storms, a meteorology expert warned Sunday. Prof. Hubert Lamb of the climatic research unit of East Anglia. University, said current British weather conditions in which farmers are ploughing in drought- stricken areas and authorities are preparing for emergency water-saving action might he here to stay. He said Britain's traditionally plentiful, but gentle rains might be'replaced by a succession of long dry periods broken by violent storms and floods such as those which damaged crops a week ago. Lamb said a drop in the frequency of westerly winds has shaped this new-style weather. NOW LEASING Square Feet Buy sizes from Square Feet WHOLESALE WAREHOUSE COMMERCIAL OFFICES SHOPS Call 328-1705 24 Hours ;