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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 1, 1973, Lethbridge, Alberta Thursday, March 1, 1973'- TUB LETHBRIDCE HCXALB Market advances in active trade TORONTO (CP) Prices on the Toronto stock market were sharply higher in active mid- morning trading today. The industrial index, consid- ered a major indicator of mar- ket trends, rose 1.54 to 222.31, golds 1.50 to 229.23, base metals 3.43 to 101.70 and western oils .34 to 254.06. Volume by 11 a.m. was 000 shares compared with 000 traded by the same time Wednesday. Food processing, Industrial mining, banks and pipeline stocks were among sectors of the market showing gains while chemical 'construction and ma- terial, oil refining and steel is- sues recorded losses. ig an Gibra High price of steaks explained OTTAWA (CP) How come that-steak you can sel- dom afford costs about ,or mora a pound? The Canadian Cattlem's As- sociation attempted to explain tlus by pricing beef from the hoof at the ranch gate to the retailer. Using prices of early this year, the association said in a brief to the Commons special food prices committee that a top-quality steer nets the farmer 40 cents a pound, or for the live ani- The beast went- to the packer who slaughtered it and got a carcass with about 585 pounds of usable meat. So ho paid about 68.4 cents a pound for the meat he could sell. He sold the carcass for about 70 cents a a total of and also pick- ed up about for the sale of by-products of the slaught- tering the hide and other inedible portions. The retailer, having paid for the carcass, pre- ceded to trim off about 25 per cent of its gristle and bone. The 585-pound carcass then became a 439-pound piece of. meat that cost him 93.3 cents a pound. The association did not "bother to work out the retai- ler's problem of pricing tile meat to make a profit. It said not all the carcass is steak. "There are a number lower priced cuts in every carcass and thus the only meaningful comparison is to compare the retailer's cost with his average selling price." In general, the association said, beef producers fee! that retailers do an excellent Job of handling high tonn-jges of beef at "what must be consid- ered modest markups." Advances outnumbered clincs 170 to 80, while 161 issues remained unchanged. Noranda Mjnes rose 1 Budd Automotive 1 Inco to Ohrysl' to and Texas Gulf t Royal Trust fell to Bonyx 10 cents to Stein ron International Vi, to Calvert-Dale 10 cerits to an Mirosystems International to Sherritt Gordon gained 1 t Hudson Bay Minin; Smelting to and I tar to New Athcon was down two cents to 21 cen and Akaitcho five cents to'8 cents. Alberta Eastern Gas was up 15 cents to and Asamera to Ranger slipped to PRICES UP MONTREAL orp. buys land from farmers ;olng out of business. The land s held for agricultural develop- ment or transferred to other uses such as recreation and for- estry. However, tho province's egislation doesn't zone pri- vately-held land for specific Stupich says the British Coliwv bia legislation would control use of only a percentage o( his province's land. He said it would not prevenl land-owners from selling their property, but would ensure tha land-buyers use it for the pur pose designated by the prov ince. The province also has abou million in a special fund to buy greenbelt land, and smalle Tax return tips Miscellaneous quotations Calgary, Montreal (Supplied by DoTierty, McCnalg Limited) LAST BID OR SALE a.m. Quotesi WESTERN OILS AND MINES Alta East Gas inex As am era AshlancJ BP Canada Jrenda Mines South cdn Ex Gas Cdn Homesld Lnd Gas Oil Cdn Locg Is Cdn Super Charier Oils Chief tan IE Pete Dynasty Fort Giant Mascot Granisle a.m. 6.05 11.75 13.75 18.00 V.90 3.95 8.05 9.50 .31 53.00 4.00 i.m. Quotes! 7.75 Call Wut 7.75 Cojiirn Inter 14.00 Comm Lever 7.62'A Comm Vent Corp Invest Corp In St Fd Drey Fd U.S. 19.75 Grt. Pacific 40.00 44.00 21.00 42.50 7.10 8.70 inW Prov Pipe 10.75 N.W. Cdi [nier Prov Steel N.W. Growth Cysnus A Cygnus B Falcon Copper F and M Trust Genstar Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E War Gr In Shares Gr Equity Invest Gr Fd Invest Mut Wut Accum Mut Gr Fd 6.7] 7.37 15.77 17.33 4.52 8.14 B.95 6.95 5.40 5.93 12.01 13.61 4.99 5.J5 4.7 6.84 9.71 12.77 13.9 5.97 4.93 6.33 4.0a 4.49 Gt .32 3.7S 10.00 Kaiser Res Lo61aw C Pfd Pacific 2.10 30.00 14.75 3S.2S 10.75 Gt Cdn 01 5 Lochlel Lytton Mln Noble Mines Norm Cdn Oil Nuinac Pancdn Pete Pan Ocean Petrol Plnnacfe Place Gai Ponder Ranger Scurry Rain S el bens Spooler Total Pete Ulster West Pete W. Dccalta MISCELLANEOUS INDUSTRIES Acres Ltd Aqultaine 8C Sugar Pfd Block Bros Brfnco Cdn Brew A Brew B 32.37'A PW Air 9.00 Rainier Inc 4.50 Royal Trust 52.00 St Maurice Cap 1.20 SandwelL 4.50 4.75 West Cdn Seed Weslfield Mln 1.36 Weston A Prd 62.75 While Yukon 14.75 PIPE LINE STOCKS Alta Gas A 14.75 Alia Gas Pfd 73.25 Alta Nat Gas Inland Nat Gas 12.00 N and C Gas 11.25 W and C B Pfd 24.00 Pacific Trans 13.00 Gaz Metro 5.00 3.20 1.30 6.90 17.25 15.50 1 1.3? .25 .67 .43 30.50 15.75 1150 Resources 8.02 fl.77 S.6S 6.24 5.49 i.fl i.Ol 7.08 7.3 9.41 10.? 5.47 6.0 9.0 6.17 6.7 7.46 1.87'A Gar Mfilro A M.OO Prin Growth Royfund Temp Growth Ufi1 Accumu Unl Savings Unlvest Vanguard CALGARY Acroll Barons Oil N. Continental Western Warner VANCOUVER MINES Afton Allals Exptora Batn Norse. Croyclen Danfcce Davenport Dally Vardcn Equltorlal Res. Lornex Primer .75 Grain prices Winnipeg Groin WINNIPEG (CP) _Ftex prices continued fo fall without resistance through mid-session on the Winnipeg Commodity Exchange today. All flax futures were down Hog prices EDMONTON (CP) Aver- ago prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board. Edmonton: 48.B5, average Wednesday 47.07. Calgary: 46.85, average Wednesday 46.74. Lethbridge: N i 1, average Wednesday 46.80. Fort Macleod: Nil, average Wednesday 46.80. Total hogs sold 498, total sold Wednesday a v e r a ge 46.94. Sows average 35.55. Gold futures WINNIPEG (CP) Gold tu tures, U.S. funds, Winnipeg Commodity Exchange Wednes day. Apr 73 Jly 73 86.40B; Oct 73 87.60B; Jan 74 89.15B; Apr 74 90.35B Tuesday's volume: Five con tracts. LIVESTOCK REPORT Calgary livestock CALGARY (CP) Receipts o II a.m. today from the Cal- ary public stockyards show ales of head, mainly laughter cattle. Trade was ac- ive. Slaughter steers were scarce elling steady at week's decline >f around 25 cents. Heifers met keen demand at prices a full 60 cents higher and with sales o 39.40. Cows sold steady and mils were fully steady with sales to 39.70. Steers Al and 2 40.75 to 41.20, A3 39.50 to 40.50. Heifers Al and 2 38.25 U) 39.20, A3 37 to S3. Cows Dl and 2 32.25 to 33.23, D3 30.50 fo 32, D4 27 to 30. Good bulls 37 to 39. Replacement cattle were in short supply selling at fully steady prices. Stock calves were scarce being mostly in the 400 to 550 pound weigh range and selling steady. Good feeder steers over 75C pounds 40 to 45, 576-750 pound 40 to 50. Good feeder heifers to 40 with the odd sale higher Good feeder. cows 26 to 32 Good stock steer calves pounds and up 45 to 50. Gooc stock heifer calves. 480 pounds and up 40 to 46. There were no hogs reporter sold fob Calgary to 11 a.m. MANAGERESS REQUIRED FOR LETHBRIDGE SELF-SERVE GAS BAR Unique opportunity for lady with supervisory experi- ence to manage modern self-serve gas bar now under construction in lethbridge. Sequel! for Application Information GULF OIL CANADA LTD. S. G. SPEARMAN P.O. BOX 5210 STATION E. EDMONTON, AlBERTA 5.95" Trans Cda 39.1211 Pyramid Tr Cda A Pfd 72-75 stiver slandard Tr Cda D Pld MM'ti Valley Cooper Tr Cda War 10.00 INDUSTRIALS WC Trans 20.75 Cap Inferna WC Trans WIs Columbia Brew MUTUAL FUNDS Hys Canada All Cdn Com 8.02 8.77 Key Irvdustrfes 9.45 OILS- i.U i.St Albany Oils 5.93 6.5] Pete 3.03 Stam Inl'l Ra 5.35 5.74 West, Explor 8.75 .50 1.00 1.75 .52 .35 .22 S.95 .37 .19 .87 11.25 the limit oi 10 cents as export- ers were absent from the mar- ket and commission houses and locals were active sellers. Bapeseed futures ranged from four cents lower in near- by Vancouver positions to three cents higher in Thunder Bay as good commercial buying con- tinued to offset heavy selling pressure. Trading was also heavy in the feed grains, with oats slightly lower ia liquidation pressure and barley fractional- ly higher on good domestic shipper buying. Rye was showing some solid strength on commercial buy- ing and inter month spread- 17.00 24.35 15.00 3.10 6M 28.25 All Cdn Vent dn Pacific Inv 29.35 Amer Gr Fd restbrooK Ind AGF Special rowsncst Ind. 26.75 Cdn. Invest All cdn DM .75 .OSV4 Toronto mines, industrials (Supplied By Richardson Se car Hies of Canada) LAST BID OR SALE r.m. OuoTe.o (Ilioo Quotes) ing with prices about three cents higher. Wednesday's volume of trade was bushels of flax, bushels of rye and bushels of rapeseed. MID-SESSION PRICES: Flax: May 10 lower 5.69A; July 10 lower Oct. 10 lower 5.20HA; Nov. 10 lower Rapeseed Vancouver: March 4% lower 4.00B; Jifiie' 2% low- er Sep. fewer Nov. 1% higher A. Rapeseed Thunder Bay: May lower 3.76B; July 2% high- For further inform ationt call the District Taxation Of- fice, If you live in a toil ask your long-distance opera- tor for 0-1000 and your call will he placed with out charge. Q. The expression, moving expenses, probably means many things to different peo- ple. Can you be specific regard- ing the types ol moving expen- ses which can be deducted from income for income tax pur- poses? A. Yes, moving expenses would generally include the cost of travelling from a form- er to a new resideuce, includ- ing meals and lodging while en route, transportation and storage costs for household ef- fects, and the cost of up to J5 days' temporary board anc lodging near the former or new residence. Q. What ah out the cost o cancelling a leare, advertising and legal costs, or real estate commissions. Are costs of this nature regarded as moving ex- penses? A. Yes. Each of the items you mentioned is included in mov- ing expenses. We should pro- bably mention that expenses for any work done to improve a property before sale, or mort- gage penalty when the mort- gage is paid off before mat- urity, or any loss incurred on a sale -are not included in mov- ing expenses. Q. I have received a scholar- or on the amount that I re- ceive here? A. First of all, the gross amount the pension from the United States company and also your U.S. Social Security are income for taxation pur- >oses in Canada. When calcu- lating the amount of your in- come you should convert both these amounts into the Cana- dian dollar equivalent. If you >ay income tax in the United Stales you will be entitled to a foreign tax credit on your Canadian income tax return. Q. My husband received strike pay from his union office in the United States although we live in. Canada and the strike was here. Docs he have to re- port this strike pay? A. If your husband performs no services (other than picket- ing) in order to draw strike pay, he need not report it. How- ever, if he is required to per- form specific services (such as acting as a special chauffeur) in order to draw strike pay, it is considered to be a payment for services, and therefore tax- able income to him. (3. Since filing my income tax return, I have been transferr- ed to another province. I am use. Nova Scotia: Although government doesn't have land twuiks, Jt does make available low-interest loans to people buy- ig farmland. The government is trying to accumulate Crown land for recreational use in the future. New Brunswick: No legisla- tion similar to British Colum- bia's is being considered. Land zoning comes under the aegis of the planning advisory board of the province's municipal affairs department, but must be ap- proved by the municipal coun- cils concerned. Quebec: The government has studied mean s of preserving land for farms and greenbelts, but has no immediate plans for legislation along that line. There is legislation allowing the government to buy out small farms in some parts of the province, such as Abitibi and Saguenay-Lake St. John. Ontario: Although local zoo- Ing laws stUl control most land i a.m. Quotes) Advocate Asb. Akaltcho iralorno Broulan iethlehsm Brunswick Can. Land Canada lung. Casslar Central Pat. CM mo Conwcst Cons. Rambler Lake Zochanour Crafgmont aickenson Mines Venison Mines Deer Kofn D'EIdona Dome Mines Easl Malartic >isc Mines East Sullivan falcon bridge Frobex First Giant Y.K. Bovis Granduc Hoilir.ner Hudson Bay M-S Hydra Ex. Iron Bay ISO Jollel Quebec Kerr Addlson Key Anaeon Labrador Lake Shore Lanqls Silver Madsen R.L. Malarirc G.F. Martin McNeely Maclntyre Meta Mfrfrfm Intern Mogul Nu Wesf New Alhona New Cafumct W. Horsa Copper Noranda .85 2.75 .36 16.00 4.B5 7.90 I.M 12.75 1.-15 1.37 7.30 .13 ,50 6.30 3.10 37.00 .05 -.45 Northgate Noflex Oiisko Pine Point Placer DEV. P.C. Exp. Quebec Man Rayrock Radlore Algom Roman Corp. f TdOfl RccK tt X.K t J. p 6.30 .35 .35 31.50 55.W 2.93 .12 '.36 26.00 7.60 v Tex moot .32 Upper Canada 2.80 Wright Hargreaves Willroy 1.10 Windlall Laurentlde Yellowknife Bear 3.75 KelTy Doug A Zen mac .08 Loeb INDUSTRIALS Loblaw A Cable Glendale Grt Cdn Oil Gen Motors Grt Lakes Pp Gutf Oil Cda Greyhound Hawker Sid Hur 8, Erie Hiram Walker tmp Oil Irn'asca Int Nickel Inr Pir-a Inv Grp A Int Ulil Ind Accept Kaps ship from a requires me university which to move to an- er 3.7GHB; 3.59B; Nov. Oats: May Oct. higher Abillb 79.HVi Alean 2M Algoma Steel .27 Atco Ind .33 Atlantic Sugar 3.00 Agra Ind Bell Tel .M Brazil Trac .50 B.C. Tel 7.10 Burns 2.7D B.C. Forest 3.60 B.C. Sugar 46.00 Row Val IncJ 23.2S CAE fncf Cdn Brew 3.75 Chemcell Col Cell Cafgary -Power Coroo Credit CWN Gas PH Cdn Ind Cdn Marconi Cdn Vickers J6W Cornlnw Cons Bath .11 Com Gas. ,11 Dfst Seagrams Dom BrTdgo Domlar .ia Dom Tex Dom Stores 3.75 Dome Dofasco 2.75 .16 11.50 .31 42.00 3.05 .05 '.41 Met Stores 2J.2S Massey Fcrg 15.S7U McMillan 11.00 Moore Corp 5.87'A Molsons A 2.50 Molsons B 44.631'a Nortt) S. Cent 19.75 power Cofp 57.00 price Co 18-50 Rothmans 35.35 St. Law Corp 21 Shell CDA 35.12Va Simpson's simp Sears 5.50 sted of Cda SelVIrk A Texaco Traders Grp A Trans Mtn Pi> Cda Pp Un'oo Union Oil Vftrsalilfe Mfg Westeel Carh Weston's B W-xxlward's A West Cdn Seed Zenith BANKS "9.A2V4 Mofilreal 15.00 Nova Scotia 43.? S Royal 26.75 Tof-Dom 2.80 29.50 1.75 l.f.OO 18.75 17.50 13.63'A 9.05 72.50 21.50 21.00 4.20 32.25 51.25 41.00 31.75 3S.75 11.25 23.62VI 9.00 8.00 4.75 6.25 21.00 51.25 38.00 2S.25 11.00 11 .B7Vs 15.50 14.00 19.00 53.00 32.00 49.12Vi 33.62V2 14.50 19.50 31 39.25 U.SO higher lower 1.19; July lower Oct, 2% lower Dec. not open. B arley: May higher 1.50V8A; July higher 1.5iy8A; Oct. ft higher Dec. not open, Rye: May higher July 3% higher Oct. 1% higher Dec. nol open. Grain quotes "Wednesd a y (basis High Close Flax May 535 579 579 Jly 565% Oct 535 530% 530% Nov 513% Rapeseed Vancouver Mar 408 404% 404% Jim 413 407% 407% Sep 405 399 399 Nov 377 371 371 Rapeseed Thunder Bay 30.00 20.75 35. JS 32.25 May 383 Jly 382% Oct 362% Barley May 151% Jly 151% Dec Rye May Jly Oct Dec New York stocks (Supplied B; RlchanJson Securities of Canada) Amr. TiT Anaconda Beth Sleel Chrysler Comsat OKI Wiotors Gulf Inl Harveslcr I.M 10 B' Mel up ?77S 15 w- Off 3.10 187IA 1.SSJ.OOO V1.00 NEW YORK AVERAGES 34.B7W 30 Ind 959.75 Up 3.68 3015 20 Rails .194.02 off .34 27.871A15 Utilities 111.35 Up .M 27.37W TORONTO AVERAGES 65 Slocks 3O1 61 Up .W 24.50 20 Ind up 1.33 35.40 U.S. Sttel 152 150% 148% ISO 374% 374 357% 149% 150 147 146'A 145'A 146% 374% 374 357% 150 150 148% 46% other city. I understand that the amount of the scholarship over must be reported as income. Can I deduct my mov- ing expenses to the university? A. Yes. The amount of the scholarship over must be declared as income and you may deduct moving expenses to the extent of such income de- clared in your return. Moving expenses include travel costs, meals and lodging while en route, transportation and stor- age costs of your household ef- fects, temporary quarters, etc., for yourself and your family. Enquire at your District Taxa- tion Office for a brochure on "Moving Expenses." Q. I am a full-time univer- sity student and have obtained temporary employment some 200 miles away. I am required to pay my own travel ex- penses to get to this temporary job. Can I deduct this ex- pense from the income I earn during the summer? A. Yes. If you have been in full-time attendance at a uni- versity of other post-secondary education institution in Canada, and you move to take a job, in- cluding summer employment, you may claim moving expense deductions. This applies only to moving expenses to get to the employment and not to those for your return to the univer- sity. Q. I am a resident in Canada and receive a retirement pen- sion from the United States company I worked for, and also a U.S. Social Security. If this is subject to the Cana- dian income tax, is the tax cal- culated before deductions were taken off in Uie United States expecting a refund. What do I do bout notifying the income tax department about my change of address? Do I write to the Taxation Data Centre or do I write to my old or my present District Taxation Of- fice? A. You should write to your former District Taxation Office, giving your full' name, new address and any other identifi- cation, such as your account number, Social Insurance Num- ber and your previous address, and advise that you are expect- ing a refund. (You should also notify your post office of your change of address.) use, the province recently has issued stop orders on uncon- trolled building in some town- ships and has frozen com. mercial development on tha Niagara Escarpment to pre- serve it for recreation purposes. There are provisions for green belt areas in a regional plan for the Toronto area. MANITOBA ACTS Manitoba: Last week's speech from the throne said a program will be introduced to buy back recreational land now in priv- ate hands for public use. Saskatchewan: A Land Bank Commission established last, year is intended to retain land for agricultural use. No com- mission similar to British Co- lumbia's is planned or con. templated. Alberta: A three-man forum being appointed by the govern- ment will consider land use ia regard to the family farm and use of agricultural land for ur- ban expansion. Agriculture Min- ister Hugh Homer said there are major economic and social factors affecting agricultural land use patterns In Alberta. Volkswagen increases car prices TORONTO Volks- wagen Canada Ltd. announced today that prices for its cars will increase an average 7.1 per cent as a result of the deval- uation of the United States dol- lar. For example, the basic price of a VW Beetle will rise to 350 from The company said a high de- mand for its cars has made the increase "unavoidable." The increase follows an ear- lier announcement in the U.S. that Volkswagen products sold there will climb an average 7.2 per cent. "P. rocessmcj i 1003 4th Avenue S., lethbrldga Telephone 328-4476 er vices Beef futures WINNIPEG beef futures close Wednesday. Mar 42.00A; May 43.00- A; Jly 42.80A; Sep 41.25 A. Tuesday's volume: Seven contracts. Trapped? ERIC MAYESKE In a career Thai to provide ths Income, Try ancf job satisfaction lhat you should be enjoying? was until I called ManuLifel For a confidential dfscuj- slan concerning a career os a professional Ufa under- writer, coil or writei Mr. 1. R. Mandieth, C.LU. 402 8th Street South LETHBRIDGE, AlBERTA PHONE: 327-5514 (Bus.) 328-0287 (Res.) The Manufacturers ufe Com IT PAYS TO LEASE! Lea ting freei your working capital Leasing provides reliable transportation at low cost fr You sign a contract and pay ONE regular monthly Your lease cart Tnclude maintenance, licence and Insurance coverage Contact BORIS KORESHENKOV, leatlng and BENY AUTOMOTIVE ENTERPRISES LTD. 2nd 9th St. S. Phone 327-3147 ;