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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 6, 1973, Lethbridge, Alberta Strong advances recorded on TSE TORONTO (CP) Prices on the Toronto stock market scored strong advances in ac- tive mid-ni'orning trading today. The industrial index, -consid- oiixl a major indicator of mar- ket trends, climbed 1.11 to 221.87 and western oils .88 to 2-J8.90. Golds were down 1.55 to 229.80 and base metals .02 to 101.91. Volume by 11 a.m. was 000 shares, up from the traded at the same time Mon- day. Advances outnumbered de- clines by almost two-to-one, 157 to SO, with 182 issues un- 'changed. Industrial mining, steel, trust ar.tl loan, general manufac- turing and merchandising is- sues moved moderately higher while communication, food processing arrd construction and materials issues drifted frac- tionally lower. Trading was halted at the .opening in the shares of Bra- meda Resources ponding re- Isase of information. The stock closed Monday at Falconbridge was up to Bow Valley to Ca- ncdian Tire A to Rio Algom to Inco to 3 i and Imperial Oil Vs to Peoples Department Stores was down Vz to Weco De- velopments 35 cents to Canadian Breweries V's to and Consumer's Gas Vt to MONTREAL (CP) All sec- tors except papers and banks advanced in light trading on he Montreal stock market to- day. Combined volume on the Montreal and Canadian Stock Sxehanges at 11 a.m. was 100 with 000 at the same time Monday Industrials gained .88 tc 238.80, utilities .87 to 158.52 and ;he composite .79 to 225.97 while papers dropped .79 to 118.15 and banks .14 to 263.S7. On the Montreal Stock Ex change, Canada Packers gain ed IW to Falconbridgi Nickel IV, to and Comin co 1 to wliile Westen Ready dropped to am B.C. Forest 1 to On the Canadian Slock Ex change, Spartan Air Services goined eight cents to 72 cents on shares. NEW YORK (AP) Th stock market moved ahead i moderate trading today, follow Ing an upward path that startec Friday. The noon Dow Jones averag of 30 industrials was up seve points at 973.89.. Advances o the New York Stock Exchang outnumbered declines 817 i 322. The neon NYSE index some common slocks wo up 0.47 at Canadian issues generally were higher. On the NYSE, Inco advanced to Al- can to Massey-Fergu- son to and CanadL.i Pacific Vt to Dome Mines slipped 1 to On the Amex, Scurry-Rain- bow gained to li. virst of a four-part series Tuesday, March 6, 1973 THE LFTHBRIDGE HERALD 15 Royal Trust announcement Energy price increases forecast Reports ot a U.S. "energy crisis" has brought many Reactions, including com- ments that it doesn't really exisi. But for the aveiuge American the outlook is bleak. Here is tbe American viewpoint in the first of a four-part series. By BROOKS JACKSON WASHINGTON (AP) iundle up. Grab your wallets. Get ready lor more big price in- Teascs for heat, light, gasoline and everything that -uses energy. Count on occasional 'uel shortages, too. Don't expect .he situation to ease before 1980, if then. That's the general outlook for United States energy problems. Side effects of the energy mess include dirtier oceans, dir- Lier air, radiation poisoning, more strip-mine gashes in the American landscape, even ai international currency crisis. How did the U.S. get into thii mess? Blame a laggard govemmenl that ignored warnings for at least 20 years. Blame the drive of major oil, gas, and coal companies for high profits End low taxes while demanding more economic in ccntives to produce more. Blame nature for putting more cheap oil under Saud Arabia than tinder the U.S. and the Soviet Union combined. Blame the American con sumer, who makes up six pe cent of the world's population but gohbles up 33 per cent o the world's energy supplies And he thirsts for more. An early coid snap last fal caught fuel suppliers with thei eserves down. Seven Denver schools closed or curtailed their ictivities. A Chicago Iruck stop reported 6 trucfa stranded and no diesel uel available. Iowa bought up uel and rationed it to the neediest users. The governor of Nebraska turned down the ther- mostat three degrees at the stale capitol. The fall squeeze continued roughly from September through January. Now govern- ment emergency planners have dusted off standby rationing plans because tliey see possible gasoline shortages in scattered areas next summer. Meanwhile, the oil industry is proclaiming an "energy ig million worth of tele- vision commercials to warn Ehat the U.S. may be running out of oil. That's partially true, but there is still plenty of oil, gas and coal in tiic world. Esti- mates vary. Still, the U.S. Geological Sur- vey figures that enough coal has been found in the U.S. alone to last for two centuries, maybe five. It estimates that it will take another 30 years to pump out the bulk of America's do- mestic oil, and another 30 years beyond that to come close to ex- hausting foreign supplies. So why the shortages now? AMERICANS GLUTTONS Government and industry re- porls agree on these underlying answers: are energy glut- tons. The interior department figures Americans increased their use of energy by an aver- age of 3.1 per cent every year since 1947. Lately the rate has been much higher, about 4.8 per cent between 1965 and 1970. The National Petroleum Cotn- cit estimates that future de- mand will double every 14 years, unless Americans lower their standard of living or find more efficient ways to use energy, such as riding public transport instead of driving au- tomobiles. energy demand soared, the e a s y-to-get supplies dwindled. For years Texas, Louisiana and other oil-produc- Grain price review Winnipeg grain WINNIPEG (CP) All com- modities except flax posted slight advances in a moderate volume of trade at mid-session on the Winnipeg Commodity Exchange today. Flax prices were down the daily limit of 10 cents in the nearby futures but firmed up somewhat in the deferred months. Rapeseed gained two to three cents, oats arid barley worked fractionally higher and rye posted gains of more than one cent. Volume of trade Monday bushels of flax, 000 of rapeseed and of rye. Mid-session prices: Flax: May 10 lower 5.45 July 10 lower 5.27A; Oct. 5 lower 4. 96 i 4.84A. Nov. unchanged pesssd Vancouver: March 3 3.98 June 2 high- r 4.00 %B; Eep I higher 3.S8 sB; Nov. 2 M> higher 3.74. Thunder Bay: May higher 3.77; July 2 higher 76 Oct. 2 higher .58B; Nov. Vz higher 3.45 Oats: May higher 1.19 -UB; uly 'A higher 1.16 Oct. and Dec. not open. Barley: May higher 1.51 S; July higher 1.51 %A; Oct. higher 1.51 Dec. un- hanged 1.50A. Rye: May 1 Vt higher 1.50 July VB higher 1.50 Oct. unchanged 1.4G 3A; Dec. not open. Grain quotes Monday (basis High Low Close Flax May Jiy Oct Hog prices EDMONTON (CP) _ Aver- age prices to 11 a.m. today pro- vided by the Alberta Hog Pro- ducers Marketing Beard, Fxi montoii: 48.10, average Monday 48.00. R ed Deer: 48.05, avcra gayments were made. _ Q. Can a father deduct baby- sitting fees from his income? A. Child care expense can be deducted by the father if, dur- ing the year, he was single, widowed, divorced or separat- ed by a written agreement. He may also make the deduction if the mother is incapable ot caring fcr herself or the chil- dren or if she is confined for 14 days or more to bed, hos- pital, wheelchair, mental hos- pital or prison. The father's deduction is limited to per week for each child up to per week. The same limitations of per child or per year for the whole family-also apply in this case. Q. When the father and moth- er both work, can either of them claim Uie child care ex- penses? A. No. When both parents work only the mother can claim the child care expenses. Q. Can a mother hire her older child as a baby citter? A. The rule is that a mother cannot claim the amounts paid to a person who is under age 21, and related to her or her ccpt for an organization such as a day nursery, the Social In- surance Number of the recipi- ent must also be included on the receipt. You will not be re- quired to attach these receipts to your return but you must keep them in the event the De- partment them. wishes to inspect Q. How much may be deduct- ed for child care expenses and does it matter lo whom payments are made? the husband by marriage or adoption. Beef futures WINNIPEG (CP) Liva beef futures close Monday. Mar 41.80A; Jiy 42.70B; Nov 39.00A. Friday's tract volume: One con- Record price for hull CALGARY (CP' Jim and Donald Cross of Okotoks, paid record price for the Calgary bull sale for Beau Standard 8 C, tbe sale's re- serve champion Hereford bull owned by Jim Hole. The grand champion Here- ford bull from the Westvicw Farms of Carstairs, W. V. F. Dermot 30C, was sold to the Brooks Ranch of Burling- ton, M.D., for The first 205 bulls sold at the sale brought an average price of each. Neiv York stocks (Snpplicd By Ricliardson Seenrlties of Canada) Amr T and T Anaconda Beth S1eel Chrysler Comsat Dupcnt Sears 33.75 X-Ron 38.37'A Texas Gulf 3S.75 Texas S1.3S Wicks Corp Gw Motors 73.WA Electric 37.00 Gulf 25.62W U.S. Steel Int Harvester 3J.12'.'i Gen Tele Elec Copper ?a.67Va TORONTO AVERAGES W 730.W off T.Ofi 10 Base Mel 107.37 Lrp .J4 n.tn'i is west oils la.ii up i.ji Volume 37..00 NEW YORK AVERAGES 30 Ind 973.G4 up 1.00 70 Rails 193.44 up 1.B4 ,0i i5 stocks up 1 97 2J.87Vi 50 Ind ffl.tl Gold futures WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg commodity exchange Monday. Close Fri. Apr 73 Jiy 73 Oct 73 ST.AD 87.46B 87.40 87.46B; Jan 74 88.75A; Apr 74 90.I2B. Friday's volume: 71 con- tracts. WINNERS OF THE TWO TOP AWARDS Trust is proud" of their Real Estate Sales DC pi. for winning the two lop honors of iho Lclhbricfge Multiple L Is ling Board. The first achievement was for the highest M.L.S. Soles volume of any agency in ihe Lefhbridge Real Eslale Board for 1972, in the omounl of The second achievement constilutes the highest volume of lisiingi sold for 1972, amounting to and the second number of M.L.S. liitingi lubmitled for the year. Above from left to right are Real Estate Mgr. Jock Higgins, Receplioniit Pol Newmger, Sales Representalives JacV Wyoit, Slelfa Grismer, Peier Carroll, Morg Stewart, Ray La Valley, Phyflis Kristionsen, Gerry Nagel, and Fred Harrison. Royal Trust REAL ESTATE 323 7th Street S. cv FOR SALE Royal Trust "THE SIGN THAT SELLS" Pliona 328-7761 ;