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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 7, 1974, Lethbridge, Alberta 28-THE LETHBRIDQE HERALD Thursday, March 7, 1974 Proposed royalties hike irks forestry industry VICTORIA, B.C. (CP) British Columbia forest industry spokesmen were upset Wednesday at the proposed increase in royalties on old forms of timber tenures but gave approval to a proposed change in logging tax. Spokesmen. said they had only preliminary reports but they felt the thrust of the Unit grain trains due at coast WINNIPEG (CP) The first of a series of unit grain trains is en route to Vancouver from the government elevator at Lethbridge, the Canadian Grain Commission announced Wednesday. The train, comprising 82 government owned hopper cars carrying about bushels of No. 1 red spring wheat, left the Canadian Pacific yards at Lethbridge Tuesday and is due in Vancouver Thursday. The commission said it will be unloaded Friday and returned to the Lethbridge elevator for reloading next Monday. The weekly cycle will continue as long as grain is available at the elevator and there is a need for this type of movement. government report by Dr. Peter Pearse which recommended the changes had ignored a great deal of economic history. They said further comments would be made after a thorough examination. Gordon Draeseke, president of the Council of Forest Industries of B.C., said "the first thing you have to realize is that the royalty increases fall on fivo big companies Wholesale prices in U.S. climb WASHINGTON (AP) Wholesale prices took another big leap in February but the increase fell short of soaring rates of previous months, the United States government said today. The bureau of labor statistics said that wholesale prices jumped by a seasonally adjusted 1.2 per cent last month, the smallest advance in four months but a highly inflationary rate never- theless. The February increase lifted the wholesale price index to 152.7 of the 1967 average, meaning that it cost to buy the same volume of wholesale goods that purchased in 1967. BUSINESS OPPORTUNITIES GENERAL MOTORS OF CANADA Presently has a limited number of excellent car and truck franchise opportunities available in smaller, thriving communities in Alberta; with strong established economies, and excellent prospects of stability for future growth Financial and Management assistance Available Please reply in strict confidence to Zone Manager General Motors of Canada 4220 Blackfoot Trail South Calgary, S.E. Alberta or Phone 243-4621 CALGARY basically and some smaller companies. "The reduction in logging tax goes to all about 200 companies, so it's a large minus to a few and a small plus to many." The approach seems unfair, Mr. Draeseke said. NOT GOOD FAITH Companies have traded in the old tenures for 65 years based on royalty charges being a fraction of stumpage fees, he said. "There is a certain amount of good faith involved and the action of the government, in my opinion, is unfair to those companies which now hold them." He said the council had made representations on the logging tax and he welcomed the changes which had been recommended. Robert Bonner, chairman of Macmillan Bloedel Ltd., said the recommendations seemed "very serious for the coastal industry." He said it would take a great deal of study to determine what the cost of the industry would become. "The estimate of the net cost impact which have been described to me have to be viewed with a great deal of Mr. Bonner said. M-F agrees to lease car plant TORONTO (CP) Massey- Ferguson Ltd. announced today it has reached agreement in principle with White Motor Corp. of Cleveland, Ohio, to form a new company to lease and operate White's diesel engine plant at Canton. Ohio. The new company will supply engines to Massey and White and to the Perkins Engines Group, Massey's wholly owned subsidiary which will manage the plant and market and service the engines. Subject to shareholder ap- proval, Massey will own 83 per cent of the new company and White 17 per cent. Massey said it expects the plant to have annual production of more than 60.000 units within six years. to holders of Government of Canada bonds maturing October As a holder of this investment you have oniyuntil Monday. April 1.1974 to exercise your option of exchanging these Bonds for an equal par value of 8% non-callable bonds maturing October Bonds may be exchanged at any Agency of Bank of Canada on or before Monday. April 1.1974. If you need assistance or further information on this exchange, consult your investment dealer, bank or financial adviser without delay. Finance Finances The Herald- Business Stocks Miscellaneous Vancouver, Calgary, Montreal (Supplied by Ooherty, MoQuaig Ltd.) WESTERN OILS AND MINES Atton Mines 8.00 Albany Oil .64 Alminex 6 75 Asamera 1212V4 Ashland OH 11 12V4 Alta East Gas 7.00 BP Canada 1650 Brenda Mines Canada Southern 5.25 Cdn Exp Gas 3.20 Cdn Homestead 7.00 Cdn Ind Gas 9 Cdn Long Island 24 Chiettan 1000 Cdn Superior Dome Pete 41.75 Dynasty 10.00 Fort Reliance .28 Giant Mascot 1.75 Gibraltar Mines 10.50 Granisle 9.00 Great Plains 28.50 Gt Cdn Oil Sds 9.50 Lochiel Exp 2 80 Lytton Minerals 1 55 Noble Mines .91 North Cdn Oils Numac Pancdn Pete Pan Ocean 14.75 Petrol 1.81 Pinnacle .22 Place Gas .48 Ponder .49 Ranger Oil 39.75 Scurry Rainbow 21.50 Seibens Spooner .36 Total Pete 8.87% Ulster Pete 1.31 United Canso WC Pete 6 West Decalta 7.75 MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sug A Pfd 13.50 Block Brothers 3 65 Cdn Pac Inv A Pfd 35 25 Corn Cap Corp 2.40 Carlinq O'Keefe A Pfd 23.50 Carling O'Keefe B Pfd 28.12% Crestbrook For Ind 10.37V4 Crowsnest Indus 26.00 Falconbndge Cop F and M Trust Co 5.25 Gensiar 19.00 Glob Com Units 35.00 Home Oil A 54 00 Home Oil B 49 00 Hud Bay Co 17 25 Hud Bay Oil 45.25 Hud Bay Oil A Pfd 48.50 Hugh Bus C Pfd 72.00 Husky Oil 22.50 Husky Oil B Pfd 40 50 Husky Oil D VlSf 6.87V4 Husky Oil E War 9.75 Hys of Canada 3.45 Int Pro Pipe War Int Pro Steel 15.75 Kaiser Resources 3.10 Kaiser Resources Wts 1.25 Loblaw C Pfd 27.50 Magnasonics 5.12% Pacific Pete 33.00 Pac West Airlines 8.12% Pe-Ben Oilfield Serv 5 87% Rainier Inc 3.62% Royal Trust 27.75 West Cdn Sd Westfield Weston A White PIPE LINE Alta Gas Line Alta Gas Line Pfd Alta Nat Inland Nat Gaz Gaz Metro A N and C N and C Gas B Pac Gas Tr-Can Tr-Can Pipe A 2% Tr-Can Pipe B Tr-Can Pipe WC WC Trans Barons North West Atlas Bath Dolly Equitonal Northair Silver Valley INDUSTRIALS Colum Brewing 2.90 Key Industries .13 Wardair 2.00 OILS August Pete .55 Plains Pete .19 Pond Explor 1.11 Stamp Intl Res .79 MUTUAL FUNDS All Cdn Compound 6.16 7.17 All Cdn Dividend 6.91 7.51 All Cdn Ventures 3.55 3.86 Amer Grow F 4.79 5.26 AGF Special 2.55 Cdn Invest F 5.10 5.59 Collect Mutual 5 27 5 79 Com Inter 14 15 Com Leverage 3 32 Com Venture 5 98 Corp Investors 649 7.13 Corp Invest S F 4.96 5.45 Dreyfus F US 11.09 12.15 Grt Pacific 4.65 5.08 Grpd Income 3.11 3.42 Grow Equity 743 8.16 Invest Grow F 12 45 13 61 Investors Mutual 5.90 6.44 Mutual Accum 6.13 6.75 Mutual Grow F 3 24 3.56 Nat Resources 4.93 5.42 NW Cdn 5.52 6.07 N.W. Growth 4.81 5.29 Principal Growth 4.57 5.02 Prov Mutual 7.59 8.30 Royfund 6.82 7.10 Temple Grow 7.67 8.41 United Accum 4.73 5.20 Univer Savings 8.22 9.05 Univest 581 6 38 Vanguard 6.34 6 95 Toronto industrials (Supplied by Richardson Securities of Canada) MINES Advocate Asb Akaitcho Bralorne Broulan Bethlenem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Mantimes Giant Y.K. Granduc Hollinger Hudson Bay Hydra Ex. Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Meta Midrim Intern Mogul Nu West Homes New Athona New Calumet Noranda Northgate Nortex Pine Point Placer Dev. Pax Exp. Quebec Man Rayroctc Radiore Rio Algom Snemtl Gordon Steep Sunnirvgdate Corp. A Texmon! tinted Canso Western Mines WH Copper Mines Wright Hargreaves Wrflroy Windfall Bear Zentnac Forest 1.40 2.15 Sugar A Bow Valley Ind Cable Ind O'Keefe Cellulose 8.25 Power Coron Credit Gas Pfd Industries Marconi Vickers Bathurst Gas 51 Seagrams 46 Bridge Domtar Textile Stores 3.15 Pete Dofasco Mobile Cdn Oil Sands Motors 2.80 Lakes Paper Gulf Oil Cda 26.25 Hawker Sid Walker Erie .24 Imasca Nickel 38.50 Inv Grp A Inl'l 2.90 Accept Kaps .55 Douglas A Laurentide A 10.25 11.37'i Massey Ferguson McMillan Bloedell 35 53.75 Corp Molsons A Molsons B .31 3487% North Cent Power Cotp Co .24 Rolhmans .34 3537% CDA Simpsons Simp Sears Canada A 5 12 39 19.50 325 Grp A Trans Mln Pipe Trans Can Pips Union Carbide Gas 1 Oil -15 4.95 Siscoe Versatile Mig AtMt'bl INDUSTRIALS 14 Woodwards A car SUM Aiporia Jannpok Agra Inrt Bell Tel Brascan A BC Tel ?5 13.25 6 837-', 44 12 5 17 12M 5625 Ctin Imperial Montreal Nova Scotia Royal Toronlo-Dom BANKS 14.25 19.75 22.00 27.50 10.87% 370 5.75 7.37% 24.62% 2.35 10.00 19.12% 3.60 17.00 18.25 16.62% 31.50 27.75 17.87% 45.50 43.00 26.12% 10.37% 14.50 41.62% 32.87% 7.12% 9.50 50.75 24.50 35.25 17.50 6.62% 53.00 28.75 39.25 30.75 38.12% 21.00 9.00 19.50 19.75 4.15 5.12% 11.50 3.85 6.50 13.00 20.00 30.50 51.62% 22.62% 21.50 7.75 12.62% 12.OO 15.50 8.62% 13.25 1950 8.62% 12.00 33.75 13.75 48.50 17.00 1625 3350 17.62% 10 12% 13.12% 10.00 8.25 22.00 23.00 2300 360 2.60 3075 2087% 4000 3950 York {Supplied by Richardson Secarities of Cua4a) Arm TST Anaconda BeTh Steed Chrysler Comsal Duport General Motors Gull Irrt Harvester Copper Ward Sews Texas Gtrtf Texas Co. Wix Corporation 52 Wootworth 18 ?S Wesstingtiouse Elec 3512% US. Steel 4300 19.00 Gsn Tel 25.37% 37.75 TORONTO AVERAGES 16650 20 Industrials 22652 up 63 52 20 Golds 508 28 up 19 00 23 25 10 Metals 104 ;4 up 1 40 2850 15 Weslem Oils 265.12 down 1.15 40 75 Volume 1 24 00 NEW YORK AVERAGES 86 75 20 JixJuslrials 672 57