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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 25, 1973, Lethbridge, Alberta TSE prices lower in light trading TORONTO (CP) All sec- tors of the Toronto stock mar- ket moved lower in light mid- morning trading today. The industrial index, consid- ered the major indicator of market trend, fell .46 to 209.06, golds to 291.97, base metals .05 to 99.21 and western oils .82 to 211.76. Volume by 11 a.m. was 000 shares compared with 000 at the same time Friday. Declines more than doubled advances, 105 to 51, with 164 is- sues unchanged. Trust and loan, steel, utility and general manufacturing stocks were among sectors ol the market recording losses while bank, beverage, chemical and pipeline issues gained. Consumers Distributing fell to Chrysler to United Corps. B Vt to Versatile Manufacturing A Vt, to and Interpool to Fields Store rose lk to Bank of Nova Scotia V4 to Noranda Vi to Great North- ern Capital Vs to and Dis- tillers Corp. Seagrams to markets operated bv Montreal banks. Camflo slipped 20 cents to SS.75, Goldlund 10 cants to end Madsen Red Lake five cents to Higlimont gained 18 cents to and Hudson Bay Mining and Smelting to Pan Ocean lost to and Houston 25 cents to Western Decalta climbed 30 cents to MONTREAL CP The Mon- treal and Canadian stock ex- changes were closed today to mark the St. Jean Baptiste holi- day in Quebec province. The produce market also was closed as were the foreign exchange Livestock CALGARY (CP) Receipts to 31 a.m. today from the Cal- gary public stockyard shows sales of about 150 head, most- ly cows. Trade was active. few slaughter steers sold steady at last week's close. There were no slaughter heif- ers on offer. Cows sold steady. Preliminary slaughter fig- ures for the week ended June 23: Alberta hogs beef Canada hogs beef Steers Al and 2 43.75 to 44.50, A3 43 to 43.75. Cows Dl and 2 33.75 to 34.50, D3 32 to 33.75, D4 28 to 31.50. Replacement cattle were being practically all steers sell- ing steady for quality. Tiiere were insufficient stock calves on offer to establish a market. Good feeder steers more than 750 pounds 43 to 45. Hogs f.o.b. Calgary to 11 a m. Average base price 45 25. NEW YORK (AP The stock market slipped steadily today as Wall Street awaited developments in the Watergate testimony of John Dean. The noon Dow Jones average of 30 industrial stocks was down 8.43 at 871.39, with declining is- sues outnumbering advances 866 to 295 in light trading on the New York Stock Exchange. Among Canadian issues on the New York exchange. Come Mines was up 1% to and Alcan was unchanged at Canadian Pacific down Ji to and Granby Mining to Grain prices WINNIPEG (CP) Oilseeds were again at or near the maxi- mum permitted 20-cent gain, while feed grains were slightly lower at mid-session today on the Winnipeg Commodity Ex- change. The light oilseed trade was attributed to hedging sales. Oats were down about a cent, while barley losses were around three cents. Rye prices were sharply low- dOT" Friday's volume of trade was bushels of flax, of rye and 427.000 of rapeseed. Mid-session prices: Flax: July 20 higher Oct. 20 higher Nov. 20 higtier Dec. 19% higher Rapeseed Vancouver: June 20 higher Sept. 16 high- er 6.45A; Nov. 13 higher 6.27A; Jan. higher Rapeseed Thunder Bay: July 19 higher 6.34A: Oct. 193i high- er 6.2014A; Nov. 20 higher 6.06B; Dec. 20 higher 5.67B. Oats: July 1 lower 1.52B: Oct. IVs lower Dec. low- er 1.43B. Barley: July lower 2.04V4A; Oct. 3ns iower Dec. lower 2.00A. Rye: July lower 2.10; Oct. 7U lower Dec. 9% lower 2.13s, i. Monday, 25, 1973 THI IETHMIDGI HWAID H Egg distributors question prices Cafeteria to Eaton's new cafeteria opens to the public this week. Located at the south end of the second floor, it has seating for 110 persons. Finishing touches were open made to the Valley Room last week. An ultra-modern kitchen is located behind this serving area. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty. McCnaig Limited) LAST BID OR SALE a m. Quotes) (II s m. Quotes) American dollar makes recovery (11 am. Quotes) WESTERN OILS AND MINES Albany Oils Alta East A'rninex (11 Cycnus A Cygnus B -ale. 566 Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board. Edmonton: 45.20, average Friday, 45.19. Red Deer. 4520, average Friday 45.31. Calgary: 45.25, average Friday 45.26. Other points: Nil. Total hogs sold to It a.m. fi64. Total hogs sold Friday average 45.26. Sows 35.60. WIRES CROSSED LONDON CCP) About do-it-yourself fans have spent hundreds of hours each putting together color television sets ac- cording to directions published in Television magazine. Not one of the home-made sets worked and the magazine now admits making a series of major errors in the instructions. Boredom cause of social ills HAMILTON (CP} Labor Minister John Munro said Sat- urday boredom on assembly lines may cause social ills such as alocholism, drug abuse, ma- rital breakdown and even men- tal illness. He IHd a meeting of the Ca- nadian Institute of Manage- ment that he is vitally concern- ed "with the whole area involv- ed in tedium, boredom and al- most the hypnosis which is in- volved in today's mass-repro- duction line." He said employers must do more experimentation with ways to alleviate boredom and they must give workers more important roles in decision-mak- ing. "They must have a voice in the decisions which are being made which directly affect he said. "Many large firms now are coming to the realization that human beings can be trusted and relied upon to act in the ca- pacity of decision-makers.'1 Mr. Munro said 'workers should be able to decide the hours they work. "They day of the time-clock may soon be gone. Employees may not have to punch in every morning of their lives. Employ- ees may be able to adjust the hours at which they commence work." 1 09 Falcon 74) f and M Trust 7.00 Genstar B o H-irnp A Home B 14 75 Hud Bey Co 5 40 Hud Bay Oil 3.75 Hud Bay A Pfd 3 05 Hugh Russell 6 25 Husky Oil 7.00 Husky B Pfd .20 Husky D War 46.50 Husky E War 4QO Hys of Canada 10.25 Inter Prov Pipe 30.75 Inter Prov Steel 8 00 Kaiser Res .29 Loblaw C Pfd 9 25 Magnasonics 27.75 Pacific Pete 8.60 P W Air 7 re) Pe-Ben Oilfield l.so Rainier Inc 1 02 P.oyal Trust 6 80 St Maurice Cap 14 871'j Sand.vell 1300 Teledyne 12.50 West Cdn 1 70 Wcstfield Min .70 Weston A Pfd 61 Whi'e Yukon PIPE LINE 3n co Gss A 16 12'i Alta Pfd 12 50 Alta Nat Gas .43 Inland Nat Gas 6 to N and C Gas 1.00 N and C B Pfd 5 8712 Pacific Trans 550 Gaz Metro MISCELLANEOUS Trans Pioe Tr Can A Pfd 1300 Tr Can B Pfd 21.87VJ Tr can War Ashland BP Canada Brenda Can South Cdn Ex GaGS Cdn Homestd Cdn Ind Gas Oil dn Long Is Cdn Super Charter Chieftan Dome Dynasty Fort Relianct GrGanlsle Gt Plains Gt Cdn Oil S Lochiel Lyttn Mm Noble North Cdn Oil Numac Pancdn Pete Pan Ocean Petrel Pinnacle Placf Ponder Ranopr Scurry Rain Seibens Spooner Total Ulster West Pete W. Decalta INDUSTRIES Acres Ltd Aquitaine 15.75 41.50 37.50 18 50 41.12V 41.00 7 75 Amer Growth 516 7.75 AGF Special 24? Cdn Invest Fund 498 6.50 Collet Mutual 529 581 Common Inter 1484 1631 Common Lev 371 .408 Common veni 702 771 Corp Invest 600 658 i Corp Invest SF 485 532 Dreyfus Fun US 1043 1165 Group Inc Shares 345 379 21.37V2 Growth Eq 762 837 .41 75 Inv Grew Fund 1198 1310 6.80 Inv Mut 568 622 815 Mut Accum 586 422 4.60 Mut Grow Fund 343 Nat Resources 762 NW Cdn 3.00 NW Growth 28 75 Princ Growth 9.00 Rovfund 24 75 Temp Grcwth 9 50 United Accum 6 Univer Savin 4 62'i Vanguard 544 470 420 548 857 753 S3? 24 00 CALGARY 91 Barons .04'2 3 pO N. Cent -01' i 4 05 West Warner .37 5 37Va VANCOUVER 1.06 MINES 62 00 Afton 1750 Atlas Ex STOCKS Bath Norsemmcs 13 Croyden 72 12i'j Dankoe 1900 Davenport 11 00 Dolly Varden 10 00 Equitoorial Res. 22 75 Lornex 12.00 Primer 4 20 Pyramid W.OO Silver Standard 3310 Valley Coope' INDUSTRIALS 6C Suaar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrook Ind 1500 255 24.50 29 IT.'3 2725 7.62'': WC Trans WC Trans War 650 18.7S 3 65 MUTUAL FUNDS All Cdn Corn 690 All Cdn Div 738 All Cdn Vent 348 Columbia Brew Key Indus Wardair OILS PRP Explor 754 Plains 807 Pond Ex 380 Stamp Inttl Res 7 to .46 .71 04 1 .W 31 IS 9 85 H .15 75 912. 2 90 .30 2 20 1.2S 18 .'9 1.U Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE (11 a.m. ACCOUNTANT-ASSISTANT TO MANAGER FOR PROFESSIONAL OFFICE MUST BE CAPABLE OF HANDLING COMPLETE ACCOUNTING RECORDS. SALARY RANGE OPEN MALE OR FEMALE APPLICATIONS WELCOME. Apply to Box 141, Herald Giving complete details and salary expected. AIL REPLIES WILL BE ANSWERED MINES Acme Advocate Asb. Akaitcho Aldona Bra'c-ne Broulan Bethlehem Bovis Brunswick Can. N.W. Land Canada Tung. Cassiar Central Pat. Chimo Cqnwest Cons. Ramble- Coin Lake Cochenour Craigrro.-.! Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Discovery Mines East Malartic East Sullivan Falcon bridge Froaex First Mantimes Giant Y K. Granduc Hollingcr Hudson Bay M-S Hydra Ex. Iron Bay Iso Joliet Quebec Ken Addison Key Anacon Labrado.- Lake Shore Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Mets Midrim Intern Mogul Nu West Homes New Athens New Calumet Noranda Norlex Osisko n 1 20 1 15 "5 505 0 1375 205 455 6.80 1 65 11 M 1.08 1 34 5.75 335 19 1.13 660 .1.70 31 TO (11 a.m. Quotes) Po.nt 3300 Placer Dev. 27.JO Pax Exp 272 Quebec Man 12 Rayrock 1 O> Radiore 32 Rio Algom 27 50 Roman Ccrp 7 25 Sherritt Gordon 15.75 Steep Rock l 53 Tek Corp. 4 05 Texmont Upper Canada 80 Western Mines 2.C6 W. House Cop 3 00 Wright Hargreaves 1.05 Willroy 1 03 Windfall 18 Yellowknife Bear 3.45 (11 m Quotes) Zenmac INDUSTRIALS Cierdale Grt Cdn Oil Gen Motors Grt Lakes Pp Gulf Oil Cda GrGsynound Hawker Sid Hur 8, Eric Hiram Walker Imp Oil Imasca Int Nickel Int Pipe Inv Grp A Int Util Ind Accept Kaps Laurentide Kelly Doug A Loeb .0514 Abitibi 38 Alcan 95 50 1.J2 Atco Ind 3 90 Atlantic Suaar 256 Aora Ind 70.00 Bell Tel .22 Brazil Trac .44 B C Tel 8 50 Burns B.C. Forest 45.50 B C Suqar 2375 BOW Valley Ind .35 CAE Ind 3 65 Cdn Brew 2 05 ChemcPlI Col Cell 12 00 CaliVsry Power 31 Coron red.t 43 00 C.W.N. GaGs Pfd 3 10 Cdt, Ind 06 Cdn Marconi 1 43 Cdn Vickers 1.00 Chrysler 43 C.P.R. 52.25 Cominco 12 Cons Bsth .15 Cons Ges 12 50 Dist Seagrams 7.62V4 Dom Bridge .18 Domtar .26V4 Dom Textile 51.00 Dom Stores 41 T> Dorre Pete 78 Dofasco .27 Cable 1059 Massey Fora 29.12''3 McMillan 17 50 Aloore Corp Molsons A 10.00 Nachurs 42 North Cent 19.50 Corp 51 50 Price Co. 1650 Rothmans 16.25 St. Law Corp 19.50 Shell CDA 26 621-3 Simpson's 9.87Vs Simo Sears 30 steel of Cda 3 95 Selkirk A 420 Texaco V 00 Traders Grp A 1 60 Trans Mtn Pp n oo Trans Cda Pp V.50 Union Pas 3 80 Union Oil 11.50 United Siscoe Versatile Mfg 16.62' 'j Westeei 20.37VJ Union Carb 21 00 Weston's B 16.50 Woodward's 3825 West Cdn 35.00 Zenith Elec 20.SO BANKS 2700 Cdn Imp 14.25 Montreal 3087T', Nova 27.00 Royal 14 00 Tor-Dom 1000 8.50 6500 il 25 33.75 19.00 4.45 2825 51.10 3850 3050 24 (75 2425 1700 7.25 11 50 6.25 485 6.87' fc 70 00 18.75 78.12''; 4875 27.00 7.75 1000 1000 14.25 13 50 19.25 1750 j 1700 31 "5 14.50 6000 1575 20.2S 2300 lo.nvi 1400 7.80 1300 15 20 ?5 LONDON (AP) The United States dollar steadied in Europe today, recovering from a record low in Frankfurt. Gold weakened. Trading was quiet, and deal- ers said markets appeared to be awaiting developments. Some dealers feel testimony damaging to President Nixon this week from former White House counsel John Dean could drag the dollar down further in Europe. The dollar has been depressed in recent weeks by fears thai the Watergate scandal will limit Nixon's ability to resolve in- flation and other economic problems. Other dealers, however, sug- gested the dollar had been over- sold in its long decline since February. The U.S. currency has floated down 12 per cent against the German mark, 10 per cent against the Swiss franc, eight per cent against the French franc and five per cent against the British since February. According t o Bus view, the dollar is already at bargain lev- els and should begin to attract buyers. GOLD DOWN FURTHER Gold dronped back further to- day, indicating there was less pressure on the dollar for the time being. The metal dropped j to an ounce in London and Zurich, the two major centres, i down in London and in j Zurich from late Friday. I The price of gold had soared j as high as S130 an ounce when the dollar was under heavy sell- ing pressure. In Frankfurt, where the dol- lar closed Friday at a record low of 2.5500 German marks, the U.S. currency dropped to another new low at the outset today, 2.5462 marks. Friday's plunge in Germany had beerj attributed to selling in New York and to hedging against weekend luicertaitities. Dealers said they were mysti- fied by the drop at the outset today. Trie dollar quickly recovered, however, rising above Friday's close to 2.5525 marks. The dollar was up fractionally in Paris at 4.22 commercial French francs, and in Zurich at 3.0440 Swiss francs. In London, the pound sterling gained a small fraction on the dollar, rising to By RICHARD ANCO Cuudiu Preti Staff Writer Farm marketing boards pre- set the producer, but is the wusewife's pocketbook being pinched in the process? Th3 question is being raised some Ontario egg dis- tributors and wholesalers who suggest egg prices are being kept artificially high in a "cap- tive market" and perpetuating inefficient farm operations. The egg producers don't see it that way. Surrounded on all sides by rising costs, they say egg prices are Mowing the same trends as other food com- modities. Egg marketing boards exist hi all provinces, functioning un- der a national board. They have legislated authority to control supply and set prices. What this means is that the old cut-throat system of supply and demand, in which some egg producers could barely eke out a living, has given way to a highly regulated marketing plan. Surplus eggs are siphoned from the market so that over- supply is not allowed to drive the price down. DISREGARD PUBLIC There is "complete indiffer- ence to the says Brian Devereux, secretary-treasurer of a large Toronto-area egg wholesale company. He says surplus eggs have at times been dumped on the U.S. market at cut-rate prices to maintain higher Ontario prices. Since the marketing board stepped into tiie picture a year ago the minimum price paid to Ontario egg producers has more than doubled to 55 cents a dozen grade A large. By the time the eggs go through processor, dis- tributor, wholesaler and retailsr another 15 to 20 cents can be added. Brian Ellsworth, general manager of the Ontario egg and fowl producers marketing board with a quota of 181 million dozen eggs a year, says sharp price increase simply re- flects higher costs down on farm. Skyrocketing feed costs, for example, account for 40 per cent of a producer's expenses. Last week the U.S. govern' ment raised the likelihood of curtailed foreign sales of soy- beans, source of protein meal in high demand as poultry and livestock feed. The effect could be still higher prices in Canada. Mr. Ellsworth says the con- trol system now in force guar- antees producers sufficient In- come to meet expenses and mcke a small profit. Ontario's producers share a provin- cial quota that is 38 per cent of a national supply target of 475 million dozen eggs annually. Scots advise investors against whiskey stocks 2.45 32 33.M 31.1JV4 New York stocks (SvppUed By Ricbarason Secnritlet of 97 25 M Golds 293 54 off TW Base Metals W.46 up ?0 71 MS West Oils 21097 off 267 34 75 Volume AM T and T 87' t Anaconda 17.62'3 X-Ron Beth Steel 75 Texa-; Gulf Chrysler 5100 Texas Co Comsat <3 Wix Ccrp Duporit 75 Woolwcrth 72 00 Gen Motors Westinqhousa Elce 3! 87Vi30 Ind J70.71 off 910 Gulf 22.62V? US Steel 78 75 50 ,5540 ort M Int Harvester 2675 GTE o Kenn Copper 24.25 TORONTO AVERAGES '5 Utilities 103.30 off .51 Mont ward Ind 20905 off .47 AS Stocks 247.42 off 2.13 Dividend payments increase TORONTO payments by Canadian com- panies for the first half of this year rose to a total mil- lion, highest on record for the period, says Pitfield, Mackay, Ross and Co. The total was 7.9 per cent higher than the million paid in the first half of last and 8.5 per ahead of the 1971 six-month figure of million. LONDON (CP) The wily Scots have a bit of dcn't put your money into scotch whisky. Not as an in- vestment, that is. The Scotch Whisky Associ- ation says it is increasingly alarmed over complaints from gullible investors lured into the whisky market by glossy brochures offering the promise of great profits. The pitch is that although the investor must pay brokers and storage fees, he stands to make a killing when his young grain or malt whisky, bought cheap, is richly mature and ready for use. Usually, he doesn't. And the reasons is that the whisky mar- ket doesn't operate this way. A spokesman for the industry says most complaints come from the United States where the "brokers" have concen- trated their campaign. The in- dustry is concerned that such bad publicity will backfire on scotch whisky sales as a whole, with disappointed investors an- tagonized into boycotting scotch. REVENUE HIGH j The export of scotch brought Britain almost million million) last year and about half of that came from the U.S. alone. Ths whisky futures problem reached such proportions that the U.S. Security and Exchange Commission restricted the trad- ing rights of three British com- panies. They and several U.S. firms were placed on the SEC's restricted list after complaints from investors who were not able to re-sell their wisky hold- ings in Scotland at the quoted prices. Some advertisements gave an example in which young whisky bought at a gallon in 1957 sold four years later at four times the price but investiga- tors said this was an isolated example and did not. mirror the true situation. In practise, most of the big whisky firms finance their own needs planning far in advance. They are legitimate brokers in the business but blenders deal with them only on rare occa- sions when a sudden shift in supplies leaves them short of a particular type of raw whisky. of vestors to finance its stock maturing whisky. Although "whisky futures" are available to investors in Britain, the brochures are mainly distributed in the U.S. because people abroad are less likely or able to make independ- ent inquiries into the business. Livestock losses to be heavy EDMONTON (CP) Live- stock losses to predators in Al- berta are expected to be ex- tremely heavy next year, Dala Alsager, supervisor of animal pest control for the Alberta ag- riculture department, said Sat. urday. His warning follows reports of heavy losses to coyotes in southern Alberta this spring. Many cattlemen have sought as- sistance from the government in controlling coyotes. "K this coming winter Is harsh, coyotes could turn to do- mestic livestock." siad Mr. Al- sager. "It could be the most serious situation we've had in years." He said major complaints have come from sheep breed- ers in the Cardston area, 40 miles southwest of Lethbridge, where up to 30 lambs have been killed in a single flock. Coyotes usually kill domestic animals only when no other food supply is available, Mr. Al- sager said, but rodents normal- ly vital to coyote diet, are in short supply. Coyotes are moving closer to settled areas and have beiun breeding with dogs, said Mr. Alsager. A pack oof 30 to 40 have been reported threatening thor- oughbred horses near Calgary, he added. Red Cross may get chance to inspect prison camps SAIGON (CP) There's an outside chance the Canadian Red Cross Society will finally receive the invitation to inspect civilian prison camps in South Vietnam they have been waiting for since February. Whether the Red Cross will accept such an invitation is an- other matter. A subcommittee of the two- party Joint Military Commis- sion (JMC) reached agreement on extending the invitation to the Canadian and Polish Red Crosses last week. CAREERS The Henderson Lake Golf Club invites applications for the position of CLUBHOUSE MANAGER Reply to P.O. Box 698 Lethbridge including a resume of previous experience, ALL REPLIES WILL BE TREATED CONFIDENTIALLY Previous first-half record was I in 1970 when the total was BARTER INVOLVED million i June payments this year of million were a record for the month. Dollar Value MONTREAL (CP) U.S. dollar in terms of funds at noon today was ,vn 2-25 at 35-50 Pound ster- ling down 13-100 at 56 4-5. In New York, Canadian dollar was up 2-25 at 3-10. Pound sterling up 2-25 at 29-50. MONEY FOUND WAKAYAMA, Japan small shaggy dog was spotted on a street with a paper- wrapped package in its moutti. When two men approached the dog, it dropped the bundle and ran sway. Police said men found in the package. Many highly-regarded whis- kies contain up to 40 different malts and grains. When a bro- ker is called, his role is usually that of finding whisky from one blender for another. Often no money is com- panies simply trade types they want from each other. Most well-known firms do not deal with the public at all. Nevertheless, some brochures tell would-be investors that the industry depends on private in- GRAND PRAIRIE REGIONAL COLLEGE DIVISION OF PHYSICAL EDUCATION is accepting applications for the following position PHYSICAL EDUCATION INSTRUCTOR The successful candidate will hold a degree, with a strong background in dance, basketball, and intramurols ,arrd a general background in vprious sports. Preference will be given to experienced female in- structors. Duties will include teaching, selected coaching and minor administrative responsibilities. This is a full time continuing position, effective Aug- ust 15, 1973. Salary: per annum. Applicants should send viroe and references by July 5, 1973 to. The Chairman, Physical Education Grande Prairie Regional College Grande Prairie, Alberta T8V 2WA ;