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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - March 2, 1971, Lethbridge, Alberta Tutidoy, March 2, 1971 - THE LETHBRIDOE HERALD - IS iii simiSS x 11\ \\/4. NARROW RANGE NEW YORK (AP) - The stock market, following the pattern of recent sessions, wandered within a narrow range today. The Dow Jones average of 30 industrials was up 0.14 at 882.67 at noon. Three Canadian issues lost % each. They were Granby Min-irg, at $21%, International Nickel, at $43%, and Walker-Gooderham at $38%. Canadian Pacific was off Vi at $69y4. Gen-star Ltd. also was down Vi, at $11%. On the American Stock Exchange, Canadian Javelin lost Vi to $14%. Brascan and Canadian Marconi were up %, at $17 and $4.25, respectively. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Donerty, Roedhouse and McCuaig) LAST BID OR SALE (11:00 �.m. Quotes* (11:00 a.m. Quotes) (11:00 a.m. Quote*)! WESTERN OILS Alta East Gas Almlnex Asamrea BP Oil Gas Can South Cdn Ex Gas Ashland Cdn Homtstd Cdn Homastd Pf 15.00 Cdn Ind Gas Oil 11.25 Hud Bay Pfd 4.70 Hugh Russell 6.05 Husky Oil 17.87V4 Husky Oil B 6.45 Husky Oil War S.55 Inter Prov Pipe 4.95 Intl Utll Pld 11.87V* Inter Steal Pipe 9.10 Lake .80 38.75 12.25 6.60 7.05 17.75 1.14 7.00 .80 8.00 7.30 .70 1.34 .80 1.59 .58 14.00 23.75 1.83 6.35 B. C. lumber program announced OTTAWA (CP) - A five-year program to promote new markets abroad for British Columbia softwood plywood and lumber was announced here by Trade Minister Jean-Luc Pepin. He said in a statement that the program, to cost $1.5 million in its first year, will generate a "significant" number of new jobs. Mr. Pepin estimated that the program could contribute to a 50-per-cent increase in plywood production and a 30-per-cent increase in lumber. Residues from such production would sustain further pulp capacity of 525,000 tons a year. The program will include greater activity at trade fairs, especially in Britain and Europe, more production of technical and sales literature and an increase in field staff. The forest industries of British Columbia produced $1.5 billion worth of products in 1969 and employed 100,000 workers Cdn Long Is Cdn Superior Cen Del Rio Charter Chleftan Dome Pete Dynamic Pete Total Pete Gt Plains Mill City New Cont North Cdn Oil Numac Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner W. recalls MISCELLANEOUS INDUSTRIALS Agra Atco Ind Aquatalne Brit Ntld Cdn Brew A Cdn Brew B Cdn Hydro Cdn Pacltle Inv CPR Pfd Crowsnest Ind Cygnus A Cygnus B Cum Prop Gt Cdn Oil S Gt Cdn Oil 4-75 100.00 Home A Home B Home Pltfld Hud Bay Co Hud Bay Oil (.50 12.00 .82 5.75 1.10 2.90 1.90 .95 5.60 Jefferson Joutel Kaiser Res (Cam Kotla L Ont Port Cem MGF Manage Mentor Newconex Pacific Pete Rank Org Selk Hold 32.37Vi Shell Canada 1.75 Shell Inv Pfd Shell Inv Wts Sicks Rainier West Cdn Seed White Yukon CALGARY Acroll Ana Pete Barons Oil Plains Pete West Warner Madison Rexdale PIPELINE STOCKS Alta Gas Tr L A 48.00 7 M�i Alta Gas Tr L Pfd 72.00 J75 Alta Nat Gas 24.00 24 871/7 c w nat 081 1600 5,",v? Inland Nat Gas 12.25 ,055 2 N and C 15.00 N and C B Pfd 30.50 ilVL. Gai Metro 4.60 �nn Gas Metro Pfd A 65.00 V.62V4 Tr Cd, p pfd 43,5o 56.75 . Col Mutual 6.03 6.63 22.62VJ Cmnw Inter 12.41 13.60 17.25 Cmnw Lev 3.20 3.51 45.00 Corp Invest S.40 5.90 J.75 Corp In Stock P 4.83 5.28 12.371A Dreyfus F U.S. 11.97 13.12 39 75 Gr Equity S.98 6.57 Gr In Share* 3.32 3.65 Invest Gr 10.70 11.70 Invest Mutual 5.23 5.72 Mutual Ac Mutual Gr P Nat Res N W Fin N W Gr ___ Principal Gr '"J, Royfund ?M2v2 United Ac Universal Sav VANCOUVER nj'u Anuk fl'S Arctic Mining ��?./, *'�� E*P,or HI'1 Beth Copper Block Bros �-7S BVenda B.C. Sugar .92 B.C. Sugar Pfd .16 Capt Inter .051/2 Churchill Copper .32 Columbia ellulose 5.50 as Coronation Credit 1.15 Crestbrook F Ind 7.25 Croyden 5.16 5.67 4.99 5.46 7.25 7.92 4.30 4.73 5.19 5.70 3.99 4.38 5.38 5.54 4.65 5.11 7.10 7.80 .33 .14 .54 14.50 4.35 6.80 17.75 15.50 5.00 .88 .35 .16 Dynasty Fort Reliance Giant Mascot Granlsle Key Indust Growers B Bathurst Nor Hys . Interior Brew Jericho Kamloops Copper Lornex Lytton Minerals 5hia -1" r~ r;.", " x�? New ,mP Mines J S Tr Cdn P War 10.25 okanagan Hellcop 14 00 w,es,.coast�.Tr..i Prime" JrS Weifern Pac,fIe *M Pyramid euu MUTUAL FUNDS Silver Standard ,, AGF Special 2.58 Texmont T Sia A" Cdn Com 7.50 8.29 Tro|an T ,i/a All Cdn Dlvld 8.43 9.43 Western Mines All Cdn Vent 3.37 3.68 Westcoast Res Amr Gr F 5.27 5.79 Western Explor Cdn Invest F 4.44 4.87 Utica 25.00 Tr Cdn P Pfd A 43.00 2.15 17.00 40.75 .25 4.45 .43 4.30 9.80 .26 3.25 1.06 2.60 5.G0 .09 .11 7.00 2.10 1.29 4.35 .16 .33 1.50 .66 .26 3.25 .13 .27 .46 Toronto mines, industrials Supplied by Richardson Securities of Canada LAST BID OR SALE (11:00 a.m. Quotes) C11:oo a.m. Quotes) (11:00 a.m. Quotes) MINES Acme Advocate Asb. Akaitcho Area Mines Black Bay Bralorne Broulan Bethlehem Brunswick Canada Tung. Casslar Central Pat. Chlmo Con west Cons. Rambler Coin Lake Cochenour Cralgmont Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Donalda Discovery Mines East Malartlc East Sullivan Falconbridge Frobex First Marltimes Giant Y.K. Bovis Granduc Headway R.L. Hollinger Noranda 071A Northgate Opemlska oslsko � .51 Patino 1.66 Pine Point .06Vi Placer Dev. 2.52 P.C. E.px .27 Quebec Man 14.50 Rayrock Radlore Rio Algom Roman Corp. Silverflelds Sherrltt Gordon Silver Miller Steep Rock ,13'/j Siscoe 41 Tek Corp. Texmont Upper Canada Western Mines Wright Har. Willroy Windfall ,17'A Yellowknlfe Br. 1.05 Zenmac HI INDUSTRIALS 13675 Abttlbl .27 Alcan 1.05 Algoma Steel 10.37'/j Atco Ind 1.80 Allan Sugar 6.85 Bell Tel 12.00 Brazil Trac 38.00 B.C. Tel 5.20 2.30 23.00 2.33 1.49 9.70 1.75 8.25 1.46 29.00 .06 .83 66.00 Other grains may be salvation says Runciman Wheat worshipped too long! Hudson Bay M-S 21.6214 Burns Food prices rolled back in Poland WARSAW (AP) - The Polish government has rolled back the December rise in food prices that led to bloody street fighting, 45 deaths and the biggest government shakeup in more than a decade. Beef dropped back to $1 a pound, nearly a fourth of a day's wage for the average worker but 30 cents cheaper than it has been. Cheese came down 25 per cent, flour 16 per cent, jam 36.8 per cent, and the prices of many other foods and clothing items dropped similarly. Nearly 66 per cent of the home market was affected by the December price changes. They did include some reductions on such durable goods as television sets, refrigerators and washing machines, and prices on these items were not increased. Hydra Ex. Highland Bell Iron Bay Iso Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leltch Langls Silver Madsen R.L. Malartlc G.F. Martin McNeely Maybrun Maclntyre Met a Mldrim Intern Mogul New Athona New Calumet New Imperial .25 B.C. Forest 3.20 B.C. Sugar 3.50 CAE Ind 1.72 Cdn Brew .20 Chemcell 9.55 Col Cellulose .33 Cal Power 35.00 Coron Credit 3.20 C.W.N. Gas 1.65 Cdn Indust .12 Canada S S .78 Cdn Marconi q .85 Cdn Vlclkers 9.00 Chrysler .14 CPR 126.00 Cominco .13 Cons Bath .30 Cons Gas 11.871/2 Dlst Sea .15Va Dom Bridge .25 Domtar 1.62 Dom Textile 31.87ft Dom Stores 10 75 10.75 Dofasco 24 50 .26 Fam Play 10 oo S?5.. Fd �' Amer 53.00 29. 2'A Gt Cdr� Oil S85 33.121/j Gen Motors 80.62ft 103 Gt Lakes Pap 18.75 .17 Gulf Oil Cda 20.87ft 1.45 Greyhound 14.25 36 Hawker Sid 2.50 18.00 Huron Erie 20.37ft 7.15 Hiram Walk 38.62ft 1.90 mperlal oil 19.25 17.M Imperial Tob 17.00 -08 Int Nickel 44 00 *�* jit Pipe 17M 1.68 Inv Gp A 8 25 5.70 Int Utllitiels 39;e7ft 43 indust Accept 17.00 1.85 Laurnetlde 7.371/. 3.25 Kelly Doug A 5.25 1.27 Loeb 3 95 t.ob,aw A 4-80 131/a Metro Stores 34.00 sM Massey Ferg lo.37ft .11 McMillan Bloe v.25 Moore Corp 34.62ft Molsons A 14.37ft 7.12ft Molsons B 15 75 * 22.50 North, Cent 512ft 15.12ft Pembina Pp alii * S!S, E�.wer CorP 5.12ft 7.42ft Price Co 8 00 47.75 Rothmans 11 62V� 17.12ft St Law Corp 19M 45.50 Shell CDA 34 25 llm* t'mPs�n's 18.87ft 25.00 Simp Sears 24.00 17.75 Steel of Can 2475 4.60 Selkirk A & 7.50 Texaco 30.00 4.50 Traders Gp A 11 00 f2L Irans M,n pP 22:62ft J?SA T,ra,ns �an RP ^"Vi 1.30 Union Gas 15 3? 11.00 Union Oil 4200 13.00 Versatile Mfg 376 30.00 Westeel �� 3.70 Union Car 152? 8.75 Weston's B 19^25 27.00 Woodward's A 19 87'A 70.00 West Cdn Sd 380 21.42ft Zenith Elec MO 0.00 BANKS 19.42ft Can Imperial 20.75 51.50 Montreal 14 87'A 20.75 Nova Scotia 22%% 15.25 Royal 24.87ft 15.25 Tor-Dom 20.12ft TABER (HNS) - "Farmers have worshipped the god of wheat too long, when production of other grains may be our salvation," Alexander (Mac) Runciman, for 10 years president of United Grain Growers Ltd., told 300 farmers and wives at a conference report banquet here. Mr. Runciman was commenting on a new federal government production and grains receipts policy involving price stabilization based on gross income in the industry. The present wheat grading schedule will be replaced on an orderly basis by the introduction of protein as a quality factor to meet world competition, and commencing August 1 there will be three grades of Canada Western Red Spring Wheat and two grades of feed wheat The outlook for barley Is good, he said, because of the greater demand for malting barley and the recent announcement of a 10 cent increase in the initial payment per bushel, and left a hint for producers to get into this field if the area is satisfactory as far as yields and quality are concerned. Speaking about the three-year international grains agreement recently negotiated, Mr. Runciman said the 57-na-tion conference at Geneva did little more than maintain the international wheat council as a clearing house, and that the agreement was a dialogue with no price or quality obligation on the wheat producing countries involved. "We are in essentially the same ball park as we have been since 1967 in which world wheat trade is carried on without guidelines, and in which Canada honored the provisions until too much grain was dumped on the market and it became necessary to break ranks to keep in the game." Mr. Runciman said that the law of supply and demand rules the market. However, the* danger of a price war is not justified, the trend in wheat prices is upward (offset somewhat by the value of the Canadian dollar), and that minimum prices will be governed by feed grain prices which are expected to level off or increase next year. The influence of the United States com crop threatened with blight, on the use of feed grains and the influence of edible oil seed production on New York stocks Supplied by Richardson. Securities of Canada Amr T and T 48.75 Montgomery Ward 36.50 20 Golds 183.46 up .< Anaconda 20.00 Sears 80.37ft 10 Base Met 92.18 up .05 Bth Steel 21.25 Std Oil of N.J. 74.75 15 W Oils 207.49 off .20 Chrysler 27.12ft Texas Gulf 120.62ft Volume 811,000 omsat 67.37ft Texas Co 36.37ftNEW YORK AVERAGES Dupont 134.25 Woolworth 50.00 30 Indust 882.67 up .14 General Motors 80.25 Westlnghouse Elec 80.50 20 Rails 196.49 u.c. Gulf 31.00 U.S. Steel 31.12ft 15 Utilities 121.20 off .09 Int Harvester 32.12ft TORONTO AVERAGES 45 Stocks 290.78 off .01 Kenn Copper 34.00 20 Indust 177.45 off .31 Volume 4,470,000 High Low Close Flax May 253% 253V4 253% Jly 251% 251% 251% Oct 254% 253% 253% Nov -- - 253 Rapeseed Vancouver Mar 310% 303% 307�4 May 295% 286% 289% Jly 273% 268'A 272% Sep - - 258% Rapeseed Thunder Bay Apr 287% 285 287% Jun 280 273V4 277% Oct __ 254% Dec - - 254% Oats May 85%  84% 84% Jly - - 857/s Oct - - 86% Dec - _ 86% Barley May 131% 130% 130% Jly - - 129 Oct - - 123 Dec - - 125 Rye May - - 114% Jly 108% 108 Vb 108% Oct - - 111% Dec -- - 113% Telephone firm earnings hit near-record VANCOUVER (CP) - Near-record earnings of $19.05 million were reported for 1970 by British Columbia Tele phone Co. in its annual report to shareholders released today. The net earnngs were $143,-000 below the record 1969 earnings of $19,195 million. The earning figures were made public earlier this month when the company made application to the Canadian Trams-port Commission for rate increases ranging as high as 15 per cent. Earnings per share in 1970 dropped to $5.10, down 18 cents from the 1969 level, due in part to a small decline in earnings and in part to an increase in outstanding shares to 2,877,000 from 2,805,000. Beef futures WINNIPEG (CP) - The Winnipeg live beef futures market was inactive Monday with some bids and offers in May and July but no contracts. There were no contracts Friday. Open High Low Close Mar 32.70A May 31.90N Jly S1.25B Livestock the general farming economy were also aired. Commenting on the outlook for the future, Mr. Runciman said that forecasts are important but impossible due to market trends and the flexibility of production in producing coyn- Record price paid for red animal CALGARY (CP) - A Red Aberdeen Angus bull brought a record price of $7,200 Monday during the first day of auctioning at the annual Calgary bull sale. Angus cattle are normally black and the red animals were first accepted only three years ago for registration as purebreds. The two year old, sold by MacKenzie Brothers of Mountain View, to Spearhead Ranches of Westlock, and Lawton Livestock Ltd. of Clyde was judged Sunday as Angus grand champion. It was the first red animal to take the award in the sale's 71-year history. In Hereford Judging, Wilf Rosten of Three Hills, took the grand championship for the second consecutive year. Reserve champion went to James L. Hule of Calgary. The sale continues today and Wednesday. Potato futures WINNIPEG (CP) - The Maritime potato futures market had a light trade Monday with contracts at five points below previous levels. There were 16 trades Friday. Open High Low Mar Apr May 2.80 Close 2.30A 2.35A 2.80B Dollar Value MONTREAL (CP) - U.S. dollar in terms of Canadian funds down i-i6 to $1.00 11-16. Pound sterling unchanged to $2.43%. NEW YORK