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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 5, 1973, Lethbridge, Alberta Market prices up fractionally TORONTO (CP) -Prices in most major sectors of the To- ronto stock market edged frac- tionally higher in moderate mid-morning trading today. The industrial index, consid- ered a major indicator of mar- ket trends, climbed .60 to 220.56. Base metals were up .17 to and western oils 1.68 to 249.13. Golds were down 1.92 to 2S2.23. Volume by U a.m. was 000 shares, down sharply from at the same time Fri- day. Industrial mining, oil refining, pipeline, real estate and bank- ing issues scored strong gains as 10 of the industrial index's 17 s u b-grouns moved higher. Chemical, general manufac- turing and'trust and loan stocks drifted lower. Advances held a wide margin over declines, 134 to 78, with 170 issues unchanged. Steinberg's A was up 1 to Dome Pete 1 to Ca- nadian Tire A to Chrys- ler to Ranger to and Reader's Digest to Imperial Oil rose Vt to Texas Gulf 'A la and Ca- nadian Supcriir Oil to Hambro Canada was down to Pacific Pete to Chieftain Vi to Hudson Bay Mining and Alberta Gas Trunk Vs to LIGHT THADE MONTREAL (CP) All sec- tors advanced in light trading on the Montreal slock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, compared with at the same time Friday. Industrials gained 1.23 to 233.18, the composite .85 to 225.49, papers .72 to 117.79, banks .43 to 263.83 and utilities .27 to 158.11. On the Montreal Stock Ex- change, Credit Fonder dropped Ms to and Labatt Vi to while Dome Petroleum gained to and Gulf Oil to On the Canadian Stock Ex- change, 'Atlantic Tungsten was Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. today pro- vided by the Alberta Hog Pro- ducers Marketing Board. Edmonton: 47.70 average Friday 47.70. Red Deer: 47.55 average Fri- day 47.82. Calgary; 47.65 average Fri- day 47.98. Lethbridge: Nil average 47.70. Moydminster: Nil average Friday 47.75. Total hogs sold 816. Total hogs sold Friday aver- age 47.34. Sows average 36.45. Calgary livestock CALGARY (CP) Receipts to 11 a.m. today from the Cal- gary public stockyards show sales of 87 cattle and calves, mostly slaughter cows in the lower grades. Trade was ac- tive at fully steady prices. There were no slaughter steers or heifers sold. Slaugh- ter bulls suitable for export met a good demand at strong prices. Cows Dl and 2 32 to 33, D3 31 to 32, TH 27 to 31.50 Good bulls 37 to 39. A few slock steers sold for 51 to 53.25. A few stock heifer calves sold at 48.75. Hogs fob Calgary to 11 a.m. average base price 47.65. down five cents to 23 cents on shares. PRICES UP NEW YORK (AP) The stock market was slightly ahead today in active trading as investors took some heart from the of bad news about the dollar. The noon Dow Jones average of 30 industrials was up 0.15 at 951.47. It hadtbeen up points earlier in the day. Advancing issues led decliners 774 to 43C on the New York stock Ex- change. On the NYSE, Alcan ad- vanced to International Nickel to 34, Massey Fergu- son Vi to and Mclntyre two to 55ii. Canadian Pacific was off Vi to 17M and Dome Mines down one to On the American Exchange, Brascan gained to 201i, Ca- nadian Javelin was off 14 to Quebecor steady at 16. Calgary firm buys Sur-Del CALGARY (CF) Carraa Developers Ltd. has announced it has acquired all outstandinj common shares of Sur-Do Builders Developments Lid., o Vancouver. Roy Wilson, Carnra pres ielcnt, said tha transaction, in- volving payment for Sur-De shares in cash and Carma se- ries C debentures, was accept ed by Sur-Dcl shareholders. The acquisition will impiovt Carma's land position in the greater Vancouver area ao i? 35.50 Steel Rails oft W 3J.35 Gen Tc1 E ec 15 UfllJUcs uj 43 u r TORONTO AVERAGES 65 Stocks 73.35 30 up .52 volume 35.50 5J.35 172.2S X-Ron Texas Gulf Texas Co Vjlckes Corp Woctworth c5f M LIFE INSURANCE (Initial Amounl) Decrtating Convertiblo Term IT WOULD PAY YOU TO COMPAP' THIS WITH ANY OTHER TERM f MONTHU PREMIUMS (P.A.C. Plan) Age Age Aft Ag P.C. Exp. 3.10 Quebec Man ]2 Rayrock i 11 4-EO Radiore 35 Rio Algom IB.iJV'i Roman Corp, 7.10 12.75 ShetrHt Gcrdon 17.00 Rock 1.37 TeJc Corp. 4.1S 7.10 Texmont .31 Upper Canada .13 Western Mines a.M .57 Wright Kargreaves 1.20 6.W Willroy us 3.33 31.75 YellawXnlfe .05Vi Zen mac 03 fNQUSTRIALS 1.01 3-55 3.00 .17 .53 7.00 2-70 3.75 2.75 .25 11.50 ,34 3 S3 53.75 615 i AbHib] i Alcan Algoma Stwl Atco ind Aflsnlfc Sugar A era Ind Bclf Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar i Bow Val Ind CAE Ird Cdn Brew Chemcell Col Cell Calgary power Coeari Credit C.W.M. Gas Cdn Ind Cdn Marconi Cdn Vlekers Chrysler C.P.R. Comlnco Cons Bam Cons Gas DM Seaprams i Dam Bridge i Domtar Com Texlilfl Dom Storej Dome Pett Dofasco 4J.S5 20.00 5S.OJ 19.00 21.50 10.75 4. JO 7.45 23.50 Pfd II.CO 4.65 H.7S 33.25 20.00 Cable Gleridale Gft Can Oil Grt Lakes Pp Gi-ll Oil Cda Hawker Sid Erfe Imp OH Int Nickel Int Pipe Inv Grp A Int Uti[ Accept Kaps Kefly Doug A Loeb Ublaw A Met 51 ores rViassey Ferg McMillan Corp Molscns A rVwIsons B north cent Power Corp Price Co Rothmani SI. Law Corp Shell CDA SI m pson 's Simp Sears Stect cf Cda Selkirk A Texeco Traders Grp A Trans Mln Pp Trans Cda Pp Union Gas UnToo Oil Versatile Mfg Westeel Unicn i B Woodwa rd 's A West Cdn j Zenith Elec BANKS Cdn fmp r Nova 53.25 21.50 4.C5 33.00 35.00 31.35 3J.OO 27.25 1 )-37! ft 19.CO 9.00 17.25 J.75 6.371'i 2J.75 75 50.00 27.37'A 2B.25 11.75 15.75 14.00 19.50 32.35 49.75 34.25 U.SO A6.00 19.7S 39.50 11.75 17.60 30.00 22.12V, 30.50 30 .M 19.87V, Grain prices Winnipeg Grain WINNIPEG (CP) Buyer were scarce and trading ligh as oilseeds iwd rye continuec sliarp losses at mid-session to- day on the Winnipeg Commod ity Exchange, Flax was down the 10-cen daily trading limit. Vancouver rapeseed was down almost tto limit, while Thunder Bay tures were off five to s e v e cents. Rye was off almost three cents. Oafs was unchanged, whil barley was little more than a cent. Friday's volume was bushels of flax, bush- els of rapeseed and bushels of rye. Mid-session prices: Flax: May 10 lower July 10 lower 5.37A; Oct. lower 5.02 A; Nov. 10 lowe 4.84B. Rapeseed Vancouver: Mare 9 lower 3.93; June lower 3.99'A; Sep. lower 3.96T'8B Nov. 5 lower Kapesscd Thunder Bay: Ma 3.79B; July 6 lowe Oct. 7 lower 3.58A; No' unchanged 3.55A. Oats: May unchanged 1.20A July unchanged Oct. lower Dec, not open. Barley: May i Ys lowe l.SOftB; July 1% Oct. 1 Dec. nc open. Rye: May 1.5116B July lower Oct 2% lower 1.4716B; Dec. 256 er New GM appointed for mine GRANDE CACHE, (CP) Mclntyre Procupin. Mines Ltd., which reported sub stanlial losses for 1972 and las month announced it will lay o 150 workers "lo improve prc auction and effect economics at its coal mines here, has ap- pointed a new general m.-uia er for its coal division a Grande Cache. Phil Johnson, who has expcr ience in underground coal min ing in Utah, Colorado, tire mid west and eastern United States ivill assumo the position abou March 15. Mclntyre Procupine also an nounced that C. E, Richardson president of (he company's coa division at Grande Cache wil move his office to compan headquarters in Toronto. Mr. Richardson said Tuesda the move was "a normal shi and was not connected with th recent decision to close one o the company's Grande Cache mines. Mcmlay, Monti S, THI UTHBHIDOt HUAIA 17 makes agriculture scape goat for inflation shortage "and if you think we have a problem in food costs just wait a few months." He told the annual meeting of the Moose Jaw Federal Pro- gressive Conservative Associa- tion the only way to keep food costs down is by having a plentiful supply. Mr. Hamilton said new tariff OTTAWA Herb Gray, consumer affairs minister, says hat apart from the Combines Act, the consumer affairs de- partment has no power to stop ising food prices. Sir. Gray said in a CTV tele- ision interview broadcast Sun- day the responsibility of the consumer affairs department is 'rathar limited" in the field of controlling prices of consumer goods. "The act authorizes the gov- ernment to launch prosecutions against individuals or firms that conspire together to raise prices or to get into monopoly Pipeline consultants named EDMONTON {ACN) W. J. Yurko, minister of the environ- ment, today announced that Stewart, Weir, Stewart, Watson and Hainrichs have been nam- ed consultants for a study to determine the route and feasi- bility of a pipeline utility corri- dor from the Athabasca ta sands to the Edmonton area. The Edmonton company will be carrying out the major part of the study. Tottrup Engineering Limited, and Hanson Materials Engi- neering Limited also of Ed- monton, were awarded con tracts to carry out supplemen- tary aspects of the study: the former on gathering systems within the tar sands area ant the latter in pipeline corridor problems. The study was commissioner' to determine the feasibility o: having utilities, pipelines ant roads in a common corridor t< minimize the environmenta impact. position and use that monopoly to raise prices. "But it does not give the de- partment a general authority to eview prices and monitor them." He said so far Parliament has not given the department the authority to take definite steps owards monitoring the prices of any consumer goods. Mr. Gray, who sponsored the motion to set up the govern- ment's special inquiry into food said he thought the com- nitte could be "very jut preferred to withhold any opinions he might have until the committee completed its work. Mr. Gray said the tarif :hanges, Introduced in Finance Minister John Turner's recen1 Budget, were not as small as interviewers said they were The total volume of imports covered by the cuts "is some 1.3 billion." Added to the removal of sales tax on some food products an< tho removal of sales tax from children's clothing and shoes "'there's a lot more than is im plied he said. The government, he said, has developed "contingency plans in the area of prices and incomes controls" which it would use should the over-all situation be- come serious. MtgA what was he replied that i was "connected with making our country as a whole uncom petitive In international mar kets" and that a "national con sensus" would have to be reached reductions on food entering Canada will be harmful to the ivestock industry as H4 cents i pound on beef means on i pound animal and H jives the advantage to United Hates and foreign beef. Canada's fruit and vegetable growers will be harder hit and t could be a disaster for Brit- ish Columbia and eastern growers. He said there were only three lations in the world that regu- arly export more food than they import. Canada, the US. the European Economic Community. "You don't find the U.S. and he EEC reducing tariffs on ood entering their areas. In act, they are going the other H'ay and encouraging their tanners to produce more by increasing the cost of imported food." Mr. Hamilton said in 1970 Canada imported 129 million irninds of beef, in 1971 100 mil- ion pounds and from January to November, 1972, Canada im- ported 116 million pounds eost- .ng million at 66.8 cents a pougl. He charged that it was noth- ing short d criminal that in a protein-hungry world, Canada and the U.S. are importers of red meat. SHIPS DESTROYED TAIPEI, Taiwan (Reuter) A fire in a shipyard at Kao hsiung in south Taiwan de- stroyed three vessels and caused damage estimated a the Central New agency reported Monday, Rail cretus clear site 4 of ivreck LOOS, B.C. (CP) Crews began operations Sunday night to clear and restore the Cana- dian National Railways line near this hamlet, about BO miles east of Prince George, B.C., after 21 cars and three locomotives were derailed ear- ly Sunday. CNR officials said in Vancou- ver Sunday that one of three tanks of chlorine gas that had been ruptured and was leaking slightly had sealed itself by 5 p.m. Chemical experts from the Dow Chemical Company in Fort Saskatchewan, Alta., near Edmonton, arrived on the scene Sunday evening and assisted CNR crews to assess dam- age. CNR officials said repair op- erations would take about 18 hours, and they-expected the track to be clear between noon and 3 p.m. Monday. management await new industrial peace age OTTAWA (CP) Unions and management are likely to be carefully checking the horizon in the next few months (or signs of the dawn of a new age of industrial peace. Amendments to the Cnnada Labor Code passed in June came into effect March 1, in- cluding new laws designed to promote job security and ex- tend bargaining rights to more employees. The changes replaced and up- date the 1948 Industrial Rela- tions and Disputes Investigation Act. The amendments, first in- troduced into the Commons in 1971 by former labor minister Bryce Mackasey, aroused a storm of criticism from man- agement when tbey first came into the public eye. Consequently labor and busi- ness will be interested in in- dications ol the success or fail- ure of the new laws. SAW NEW PATTERN Government leaders said when the bills were proposed that the laws would provide a new workable industrial rela- tions pattern for the 1970s. Martin O'Connell, labor min- ister when the amendments passed, maintained that strikes are unavoidable and the best way to stabilize industrial rela- tions is to strengthen collective bargaining practices so that tensions are reduced. Although the laws will only snply to about five per cent of Canada's total labor deal with workers and employers in ma- jor nationaj industries including transportation, communications, broadcasting, banks and Crown corporations. The amendments are also im- portant because provinces often pattern their laws after prece- dents set in the federal jurisdic- tion. The labor code changes ei- tend collective bargaining rights to certain employees not previously covered; create a full-lime Canada Labor Rela- tions Board, members of which have already been named; give the federal labor minister a wider assortment of dispute set- tlement options; increase pro- tection against unfair labor practices; and bring in meas- ures designed to protect em- ployees against loss of jobs through automation. Of all the provisions, it was the sections on technological change that aroused most oppo- sition from business. The clauses on automation will allow re-opening of working contracts to negotiate tech- nological change that affecls the jobs of a significant number of employees. Reopening of negotiations will Dollar value MONTREAL (CP) U.S. dollar in terras of Canadian funds at noon today was up 3-32 at Pound sterling down three cents at Tn New York, the Canadian dollar was down 3-32 at Pound sterling down 3'A at also mean employees will have the right to strike in some cases if agreement on changes is not reached. Exceptions to this rule will apply in cases where the em- ployer has given proper 90-day notice of proposed automation during negotiations, where agreements set out procedures to settle automation problems, and where contracts include ar- icles providing for assistance to employees affected by tech- nological change. The exceptions were included in the legislation after represen- laty-ins from of which Mr. Mackasey called ir- responsible. Management con- tended the laws would lead to more strikes. The technological change sec- tions will not apply to contracts retroactively, only to collective agreements signed on or after March 1. Under the labor code changes, collective bargaining rights will be given to profes- sional employees and dependent contractors such as truck owner-operators, who sell serv- ices to a firm, or fishermen who are paid on a share-of-the- catch basis. MEAT INSPECTORS Poiifions hove been creoled in Edmonton, Red Deer, LetJibridge lo oversee prtxesiing operotions and lary conditions in meat packing establishments. Dutiei cfuda ante-morrem Inspection of animal) for slaughter and pait-morlem inspection of organs and red meat porlions of the carcass. No shMl work required for most positions. a minimum of two years In meal Tn- spedion and high school graduation preferred, Salary to and presently under review. Competition Closes March 15, 1973. Compelilion Number 4425-C-l. Informolion and applTcaiion forms from; GOVERNMENT OF ALBERTA PERSONNEL ADMINISTRATION OFFICE ROOM 1101, JOHN J. BOWIEN BUILDING 620 7th AVENUE S.W. CAIGARY 2, ALBERTA ;