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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 25, 1970, Lethbridge, Alberta MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roedhouse and McCuaig) LAST BID OK SALE a.m. Quotes) a.m. Quotei) a.m. Quotes) T WESTERN OILS Utll Pld 8UW Northwtst Or 3.B5 pany. Total cost of the program is estimated at about million, if the changes are accepted, by all 212 REA's in the area. FESL plans to send teams Into Hie area to approach the REA's cm the question. They hope to have tiiis completed by the end of the year. Completion of the actual changes in equipment would take about three years, The proposals, as outlined by FESL, are as follows: There will be no Increase in Calgary Power's farm revenue. Even- HEA custo m e r with a 7% KVA transformer, or larger, will be refunded ttie cost difference between his transformer and a 5 KVA transformer. All transformer changes will be financed from the existing REA deposit accounte, eliminating a capital outlay by the individual consumer. Farms with 3 KVA transformers will be provided with larger circuit breakers if nec-essary at no cost to the individual consumer, to raise the service to a 5 KVA rating. Excess footage charges will be eliminated except in those cases where tile excess footage exceeds two miles. Ir those cases the customer will pay only for the distance over to miles. A new rate schedule will be introduced. Under the sohame existing 3 KVA and KVA services will be combined for billing purposes. In addition, the "deposit and operating account contribirients will be incorporated into a new cost-per kilowatt hour rate, reducing all rural charges to a "pay-a.s-you-use" basis. AH new services will he installed with 5 KVA transformers or larger. To maintain the demsil account in a healthy condition and share change out costs equitably, consumers requiring increased capacity transform ers will tw encouraged to ga from 3 KVA to ICVA f.nd from 5 KVA to 10 KVA sizes. There is growing requirement for reliable three phase supply on the farm. Iri order to provide adequate facilities for these requirements in the future the company proposes to continue its policy of serving all three phase farm loads and major single chase services as Cailgary Power customers. An arrears charge of one per cent per month on the unpaid balance will be introduced on arrears accounts, replacing the existing 30 cents per month charee. REA operations will continue to be carried out on an actual cost basis. If inflation is nermiirted to coriinue it is like-Iv furhsr operaftina charge ad-ju.djir.ierSs may be required withi" the next few years. Clearer guidelines eovem-ine the adem.ia.cy of the de-pxit account have been introduced. iiaHiiaililliSililBSIIHlIiJ Tax Column On Page 17 rarpiraniTiiTrsiDiT By HERB JOHNSON Staff Writer CALGAIIY Major changes ill electrical servicing billing for the farmers southern and central Alberta were announced here today by F. T. Gale, vice president of Farm Electric Services Ltd. If approved by the Rural Electrification Assotiat ions, the changes would cost the farmer mare but give him better sendee, Mr. Gale said. The extra charge, am average of about a dollr month, would go mostly to elimine he operting deficits of the REA. Farm Electric Services is a r.on profit subsidiary f Calgary Power Ltd., with responsibility for Calgary Power's farm services. There would be no increase in payment to Calgary Power for the electricity it generates and distributes. Mr. Gale said the proposals would have wide spread beneficial affects on rural consumers. "The program was designed to iron out several problems in our farm service policy, and to offer a more flexible plan for serving the mdern farm." "It tcok only 20 years to electrify over 99 per cent of the farms in our service area. We now supply power to farms over miles of fanmers' lines. "It would have been impossible to carry out this program n so few years without the energetic support of the fanners, through their Rural Electrification Associations. "However, with this tremendous building program virtually completed, we are netering a new era. This phase offers a mere attractive and flexible power package to the Alberta farmer, without affecting the basic principle of sharing the costs among the members as eciuilablv as possible." 'The proposed chainges _ _ In DcDcy, which must be ratified by the 212 Rural Electrification AscciaKcns in the Calgary Power service area, are designed to overcome three major problems, a spokesman for Calparv Power said. One of these is the deficit in the operating account of tiie Rural Electrificafen Associa-tiraw. The operating account is used for the day-to-day upkeep of farm cower sea-vice. COSTS UP Spiralling costs are re-soonsible for tlhe c u r re n t deficit, which will likely reach million by the end of the year, the spokesman said. Another problem is the cost o'f new transformers. Under the proposed changes, all transformer chaoses will be financed from the existing -REA deuosit accounts, plimpjraSns a capital outlay by the individual consumer. Deoosit accounts are funds maintained by each REA to cover such Umffs ss wear atfd tear, storm damage and ob-soVsence. The changes are also ed to overcome the problem of providing larger rirciut break-iara to those farms needing them. There are 12 points contained in the proposed changes. A major one is the introduction of a new rate schedule. Under the scheme existing S KVA volt aimpsres) and 5 KVA services will be combined for billing purposes. Deposit and operating account contributions, now included For F each quarterly bffl, be Incorporated into a new cost-pcr-kilowatt-hour railfi. All rural charges would (hen be on a "pay-as-you-use" basis. This would mean, according to FESL averages, approximately one extra dollar per month for each user. This amount would go toward eliminating the deficit in tiie operating account. In addition, there vwuld be an extra 12 cents a mouth Stock Pi In Light TORONTO (CP) The Toronto stock miarket moved up fractionally in light mid-morn-big trading today. On index, industrials rose .06 to 153, base metals .11 to 90.53 and western oils .27 to 131.64. The advance interrupted three consecutive sessions of losses. Volume by 11 a.m. was shares, down from at the same time Wednesday. The market opened with a BmaM loss, but eased upward after the first hour of trading as Wall Street in New York mapped its losing streak. Among advancing issues, Home A was up to International Utilities to Stelco to Asamera 1 Up Trade Oassiar to 19% and Lake Dufault to B.C. Telephone was down 2 to Noranda to Canadian Imperial Bank to 19% aral Consolidated-Bathurst to TRADE ACTIVE MONTREAL (CP) Prices slipped lower across the board in active trading early today on the Montreal stock market. Kaiser Resources was unusually active and eased to 13% as shares changed hands. Price, which recently an-ounced it will reduce its quarterly common-stock dividend to 10 cents from 18% cents, was off to 7V4. CPR declined to 54, Bombardier Ltd. to 12% and Bell Canada to Among senior mines, Inco fell 1% to Hudson Bay Mining and Smelting 1 to 22% and Noranda to On index, industrials were off 1.33 to 154.52, utilities .68 to 123.37, banks .15 to 165.76, the composite 1.09 to 150.11 and papers 1.17 to 84.15. Combined volume on the Montreal and Canadian Stock Kxchanges was shares at 11 a.m. compared with at the same time Tuesday. Both exchanges were closed Wednesday, St. Jean Baptiste Day. NARROW ADVANCE NEW YORK (AP) The stock market lost some of its earlier gains, but clung to a narrow advance today in slow trade. At noon, the Dow Jones average of 30 industrials was up 2.26 at 694.55, after being up earlier more than five points. Among Canadians, Canadian Pacific rose and Massey Vs. Dome Mines fell and Inco On the American Stock Exchange, Scurry-Rainbow rose and Brascan Ltd. Lethbridge livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 175 cattle. Receipts' about evenly divided between slaughter steers and cows. Trade active. Good and choice butcher steers meeting good demand, prices steady at the week's advance. No butcher heifers sold early. Medium and good cows selling readily at steady prices. Can-ners and cutters selling at steady prices. Medium and good stocker and feeder calves selling at steady rates. Choice steers 28.75 to 29.40; good 28 to 28.50; medium 26.50 to 27.75. Good cows 21.50 to 22. medium 20 to 21; earners and cutters 18 to 20. Good heavy feeder steers over 900 Ibs. 28.50 to 29.50; medium 26 to 28; good light stock steers 30 to 32. Good stock cows 21 to 23.50. Butcher hogs sold Thursday f.o.b. Lethbridge 28.65 base price. One hundred thirty three hogs sold for export price converted to 23 liveweight. Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about head, mostly steers and heifers of mixed quality. There was a good percentage of steers weighing between 800 and 900 pounds which mostly went back as replacements. Trade was active. Slaughter steers sold Bie week's lower prices. Heifers were steady. Cows were steady with good kinds scarce. Bulls were unchanged. Choice steers 28.75 to 29.40, good 27.75 to 28.50, medium 20.50 to 27.50; choice heifers 26.50 to 27.40, good 25.25 to 20.25, medium 24 to 25; good cows 21.50 to 22, medium 20.25 to 21.25, canners and cutters 18 to 20. Good bidls 26.50 to 28. Replacement cattle were mostly fleshy short-keep steers meeting a good local demand at steady prices. Good feeder steers over 800 pounds 29 to 31, good stock and feeder heifers 26 to 28.20; good stock and feeder cows 21 to 23. There were no calves on offer early. There were no hogs sold f.o.b. Calgary to 11 a.m. Macleod Livestock FORT MACLEOD On offer 810 head of cattle. Pressure on all classes with the exception of slaughter cows and bulls and thin green yearlings. Choice fed steers 29.70 to 30.20; good 28.40 to 29.50. Choice fed heifers 26.90 to 27.30, good 25.50 to 26.60. Good cows 22 to 23.30; medium 20 to 21.60; canners and cutters 17.90 to 19.75. Good balogna bulls 26.40 to 27.40; medium and fat kinds 24.25 to 26.20. Good feeder steers 28.75 to 30.60, fleshy stocker weights 31 to 34 depending on weight, those conditioned more for grass 35 to 38, while light green kinds still sold on a broad demand 40 to 22, quality and condition depending, odd sales higher1. Good feder heifers sold under pressure 26.50 to 28, with odd sales on lighter weights over 29. Heavy stackers 30 to 33, lighter weighted 33.50 to Grain Prices Winnipeg Grain Prices WINNIPEG (CP) July flax and July rapeseed futures had a good trade on the Winnipeg Grain Exchange today as traders continued to buy on low clocks at the Lakchead. The July futures were up more than three cents in the flax and almost nine cents in the rapeseed from previous close levels. A European commission house was buying barley in the October future at the previous close level. Oats was naclive while rye had a small trade with prices moving fractionally in both directions. Volume of trade Wednesday included bushels of flax of rapeseed and of rye. Export loadings of Canadian wheat Wednesday included bushels to China. Prices for class two wheat for export ot countries outside IGA: 1 Nor 2 3 4 1.52; 1 Durum 1.74% 2 3 4 JGA prices: 1 Nor 2 3 4 1.52; 1 Durum 2 3 4 1.55Vi. High Low Close flax Jly 294 288% 294 Oct 273 271 272% NoV 267 266V4 266% Dec 264% 262% 263% Rancseed Jly 296% 286% 293% NOT 255% 251 255% Jan 244% 241 244 Mar 240 240 240 Oils Jly 75% 75% 75% Oct 76% 76% 76% 76% Barley Jry 109% 109% Oct 110% 110% Dec 110% Rye Jly 97% 97 97% Oct 102% 101% 102% Dec 104% 103% Bill Gears Two Hurdles WINNIPEG (CP) A bill which would make Manitoba the second province with a public automobile insurance plan scraped over two major hurdles in the Manitoba legislature Wednesday. Both on second reading and on an earlier opposition amendment, Speaker1 Ben Hanuschak voted to keep the New Democratic Party government's bill alive. The Speaker votes only to break a tie. The bill now is scheduled for detailed study in the public utilities committee where the government has a one-member majority, but an even tougher fight is expected to come on third and final reading. Mr. H a n u s c h a k, an NDP MLA, was forced to vote when the combined opposition solidly opposed the bill. With the help, it passed second approval in a 28-tc-27 margin. Earlier, Mr. Hanuschak's vote had helped defeat a Conservative amendment which would have postponed second reading for six months. HITS PRIVATE COMPANIES Under the bill, the government would be able to establish a basic, compulsory universal auto insurance plan to set its own regulations. Private companies would be able to sell coverage supplementary to the basic plan, but the government could also move into that area on a competitive basis. The plan would be substantially the same as one in operation in Saskatchewan since 1947, although a different rating system is 'proposed and benefits and third-party liabib'ty coverage would be Firm Seeks Fluids For Housing MONTREAL (CP) The Bank of Montreal Wednesday night announced the formation of a new company, Firstbank Investments Ltd., in a move to develop new sources of funds for home building. J. Leonard Walker, the bank's president and chairman of the new company, said Firstbank Investments has been set up to invest in national Housing Act mortgages purchased from the bank. As a direct result of the initial sale of mortgages to the com-p a n y this week, said Mr. Walker, the bank has been able to increase its allocation of funds for mortgage lending across the country by He said Firstbank Investments will issue and sell an equivalent amount of short term notes guaranteed by the Bank of Montreal to finance the purchase. More NBA mortgages will he bought from the bank in future as funds become available to Firstbank Investments from mortgage payments and additional financing and this will permit further increases in mortgages lending by tiie Prices EDMONTON (CP) Hog prices today provided by the Alberta Hog Producers' Marketing Board: Edmonton: Quoted 28.30 to 28.55, selling 28.30. Average Wednesday 28.39. Hcd Deer: Quoted and selling 28.30. Average Wednesday 28.38. Calgary: Quoted 28.35 to 28.55, selling 28.45. Average Wednesday 28.42. Lethbridge: No market. Average Wednesday 27.85. Total hogs sold to 11 a.m. Sows selling 20.45. Total hogs sold Wednesday average Futures WINNIPEG (CP) The Winnipeg live beef futures market was mostly inactive Wednesday with some trade in September futures. Open High Low Close Tue. Jly 30.90B 30.70 Sep 29.40-.35 29.40 29.35 29..S5 29.45 Nov 28.80B 28.80N1 Jan 28.80N Canada Trust Interest Rate Jo Be Ba By Paris PARIS (CP) The Praised pspaper reeled by Jean Mercure, ends its Paris engagement Saturday. The itinerary includes performances in Italy at Verona, Trieste, Milan and Turin before the ballet returns to Canada at the end of July for appearances in Ottawa and Earnings By THE CANADIAN PRESS General Foods Ltd., year ended March 28: 1970, 1969, Prices WINNIPEG (CP) The Marl-times potato futures market was inactive Wednesday. Open High law Close Tue. Nov 2.30A 2.30A Mar 2.60A ada Trust Huron' and Erie announced Wednesday the interest rate on savings accounts will be reduced to per cent from 6% per cent effective July 1. Earlier this month the mortgage company reduced the prime rate on conventional mortgages, said A. II. Mingay the firm's vice-president and general manager, and is hopeful that further reductions can be made in the very near future." He said the reduced interest rate on savings accounts is "to further encourage the reduction of overall interest rates which hopefully will play a part in retarding the present inflationary Ballet's month-long series of performances in Paris have been described as "dynamic, diversified and full of vitality" by the widely-circulated daily Le Figaro. Critic Claude Baigneres described the "poise" of ballerina Christine Hennessy as being "unrivalled throughout the world." Her acrobatic feats were on a level equal to those of Moscow's famed Bolshoi ballet company. In the last four weeks, Paris audiences have jammed the theatre nightly to watch the Canadians perform. A highlight of their routine was a new ballet entitled The Shining People of Leonard Cohen, choreographed by the Pvoyal Winnipeg's Brian MacDonald. Based on the poems of Cohen 'and the electronic music of Harry Freedman, both natives of Montreal, the ballet drew rousing ovations from audiences and glowing accolades from veteran critics. The Winnipeg company, LEASING UP TO SQ. FT. OFFICE SPACE IN CENTRE VILLAGE MALL Will subdivide to suit negotiable dependent en finish required Call KEITH HAND MARATHON REALTY PHONE Hat Clinic Offers Bursaries CALGARY (CP) Tile Medical Arts Clinic in Medicine Hat was given the new University of Calgary medical school its first student bursaries offered by a physicians' group. Dr. Leo Lewis, chairman of the clinic, said the group will provide annually for five years to assist students in the medical school. The money will go to four undergraduate stu-denU, who must qual i f y through general FOR RENT GOOD LOCATION ON 5th STREET SOUTH Suitable for shoe store or ladies' wear store APPLY. Stan's Men's Wear 321 Slh Si. Now Against BT standing grain is insured H fire loss at no extra charge. us now. Be safe not sorry. 'nsure against hall with Ljl fORSTfR AGENCY 3rd Ave. S. Phone 327-2793 .AlMMB "Serving the South wilfi Integrity GENS FORSTER For Nearly 60 PHILLIPS CABLES (WESTERN) LTD. Require Permanent Male Production Employees a) their plant in Sentinel. Average pay rate s 2.85 per hour plus such benefits as group life insurance available. Approximately 50% medicare paid by company and company paid pension plan. Flcasj Coll or Write CANADA MANPOWER FEDERAL BIDC., BLAIRMORE For PHONE Pancake House Franchise Available Excellent location in Marathon Development in City of Lelhbridga to be open about October, 1970. Cash required approximately Capital investment returned ir approximately four years. For further Information please write or phone SMITTY'S PANCAKE HOUSES LTD. 709 8th Ave. S.W., CAIGARY, Alborta. 263-5683 OFFICES FOR RENT EACH PER MONTH SECRETARIAL SERVICES ALSO AVAIIABIE Contact PAHULJE CONSTRUCTION LTD. 5. PARKSIDE DRIVS PHONE ;