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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 8, 1972, Lethbridge, Alberta Wednesday, Mcmh 8, 1972 THE LETHBRIDCE HERAID 23 Stock to lowe TORONTO (CP) Gold is- sues on the Toronto stock mar- ket were the biggest losers as prices in most sectors drifted lower in moderate mid-morning trading today. The industrial index lost .47 to 203.63, golds 1.12 to 174.50, base metals .16 to 95.C5 and western oils .22 lo 225.22. Volume by 11 a.m. shares, down from one milEion at the same time Tues- day. Declines outnumbered ad- vances 132 to 105 with 201 issues unchanged. Banking, beverage, food proc- essing, oil refining, trust and loan and pipeline stocks were among 13 of the industrial in- dex's 17 sub-groups which moved lower. Industrial mining, merchandising and real estate stocks edged fractionally higher. Dominion Textiles fell to Aquitainc lo Kee- prite Products (o Sll's, Tara ?8 to and Canadian Southern Pete 10 cenls to prces dip levels Imperial Oil 3ZTN, Stelco l'i slipped to 520' to Sea- grams V.i to Aliitibi to Sleeping car fares increased MONTREAL (CP) The CNR announced Tuesday plans to increase sleeping car fares on passenger Irains June 1 by five to nine per cent. A spokesman for the railway said in an interview tlie Cana- dian Transport Commission was informed Monday of the planned increase, which the CNR said was necessary to meet in- creased operating costs. Examples of tlie new forces on "middle days" of the rail- way's three-tier fare schedule would see the price of a lower berth from Montreal lo Vancou- ver increase (o ?135 from A Montrcal-to-Ifalifax lower berth would cost on a "middle day" instead of the current Coach fares anil cash meal prices remain unchanged. Meals are included in tbe price of sleeping car tickets. and Baton Broadcasting to Simpsons rose >i to Power Corp. to White Pass and Yukon 'A to Maltogami to and Asa- mcra 'M to K20VH. LIGHT THADK MONTREAL (CP) Utilities managed a small gain but prices dropped in all other sec- tors in light morning trading on the Montreal stock market todav. Industrials lost .43 to 208.09, banks A'i tc 253.63, the compos- ite .34 to and papers .14 to 00.00. Utilities rose .03 to 1BS.4S. Combined volume on the Montreal and Canadian stock exchanges was shares compared with at the same time Tuesday. Canadian Javelin lost to [AC to Dii Pont Vi to and Fleetwood li to 512. Credit Fonder Franco-Cana- dian rose it to and Nor- anda i.i to D.TA DOWN NEW YORK (AP) Analysts I said the slock market showed a firm undertone today despite pressure on blue chips from profit taking in active trading. The noon Dow Jones average of 30 industrial stocks was down 3.54 at 943.33. Among Canadians, Mclntyre Porcupine declined 1 to and JMassey >A to Canadian Pacific advanced to On the American Stock Ex iliange, Scurry Rainbow Oil a ;17 and Brascan Ltd. at >oth declined Mexican leader off to Japan MEXICO CITY CAP) Presi- dent Luis Echevarria set out for Tokyo today on a visit expected to result in closer commercial, cultural and assist- i arice ties between Mexico and Japan. Among agreements expected to be signed is one providing direct air travel between the two countries via their national airlines, with stops at Vancou- ver and Honolulu, Details of the proposed bilat- ral air agreement were not, inv neOJalely available. Canada and Mexico signed a ilaloral air agreement more han a year ago giving landing rights in To- on to and Vancouver and CP tir landing rights at other joints in Mexico besides Mexico ?ity. A transport department ource in Ottawa said Mexico las not made use of its Vancou- ver rights but may be preparing .0 do so. Tlie Mexican president is ex- pected to push for increased di- trade between Japan and lis country, cutting out the United Stales as intermediary, He also will seek a tourism agreement, eliminating visa re- quirements. Toronto mines, industrials (Supplied Richardson Scciirllles of Canada) LAST BID OR SALE Police work 300 hours T month By Gene Fawcette FISHING AT NIGHT FROM AIRPLANE FLYiNS AS H ISM AS FT, DOESN'T SCUNP EASY. BUT THIS IS, IN EFFECT, WHAT A Ngtf SUPER-SENSITIVE AIRBORNE CAMERA IS DOING WHEN IT DETECTS THE PJM GLOW Ccf SV PLANKTON SO-) OOLS OF "TiSH JRASS TH ROUGH ...TtffCAMRA, caunerz OWUMOF a.m. Cuolei MIKES Advocate Asb. Akaiicho Bralorna 3 Broulan Bethlehem 21 Canada Tung. l Cassiar 19 Central Pat. l Chimo MliOO a.m. Quo Alhona New Caluinct VJ. HDJ-SO Copper mbler west Cons, Rfj Coin Lake Cochenour Cralgmunr DIckenson Mines Denison Mines Deer Horn D'Fldona Dome Mint- Donalds Discovery Mines East Malartic Eiast Sullivan Probex Frrsl MarlHmes Gianf Y.K. Bovis Granduc Headway HaWnger Hudson Bay M-S Hydra Ex. Iron Bay Jollet Quebec Kerr Addisan Key Anacon Labrador Lake Shcre LangTs Silver Madsen R.L. AlalarUc G.F. Martin WicNeely Maclntyre Mela AMdrlm Intern Mogul New Home I.2S 9.00 1.10 29.M Quebec Man Rayrock Radlore Rio Algain Roman Corp. Gordor Silver Mlircr Steep Rack Tck Corp. Texmont We stern Mines Wright Harpo WinVoy Win-dfair Yollowknlle B 40.50 6.45 3.05 -IHi 1.31 (11'.00 a.m. Gut Conninco Cons. Balhurst Cons. Gas Cdn, West Nat Disl Segrams Domlnloa Bridge Domlar Dom. Stores Dome Pete Cable Korti of America Huron and Eric Imperial Oil 565 SO 2.24 1.20 Kelly Douglai Loeb LoSlaw A Mel Stores 19. mi 24.00 32.50 77.00 13.75 16.37 1 3 37.50 18.50 69.50 28 00 53.15 19. SO 6.00 390 6.121': 9.00 25.37'. INDUSTRIALS Ablllbi Alcsr> Algoma Steel 1. Atco Ind. 1 AMantic Sucjar i Agra Ind. Bell Tel. Brazilian Trac. B.C. Tel Burns B.C. Forest B.C. Sugar BCVJ Valley Ind. CAE Ind. Cdn Brew Chemcell Col Cell Cagary Power Coro Credit C.W.N. Gas Cdn Ind. Cdn. Marconi Cdn. Vickers Blcedcll 37V? J2.55 15.00 9.CQ 19.CO Moo re A Mclscn? B Nw1h and Cent Pc-A-er Cccp. Price Co. 8.50 St. Lawr Corp. 20. Shell CDA 1J-621''J simp Sears Steel cf Canada 7.M 12.00 CO 21.25 66.CO U.iO 2J.75 20.50 ________ Union Carbide 7.00 Weston's 8 Woodwards A West Ctfn. Seed Zenilh ETee. 1 BANKS Montreal Royal Tor Dom. 8.75 21.CO 40.50 75.25 34.75 Trans Mln. Pipe 24. Trans Cdn. Pipa 42.37 Vi Union Gas 13 S71. Union Oil Vrrralite Mfa. 5.62V IS 75 17.75 Z6JS 270' 23.50 35.371'j 32.00 31.37V; controlled firms taxable income highest OT1'AW A (CP) Corpora-1 ,ions under U.S. control ac- counted for more than one- quarter of the taxable income earned by corporations in 19G9 in every province but Prince Edward" Island. A federal government reporl sho'.vs (hat U.S. control was highest in Ontario and Alberta, where U .S .-control let! con] pa- nies wore responsible for 44 and 43 per cent respectively of taxa- ble income compared with the national rate of 33 per cent. For all foreign-c out rolled cor- porations, taxable income was 44 per cent of the Canadian total. In Ontario and Alberta foreign-controlled corporations accounted for practically half of all corporation taxable income Foreign control was lowest in Prince Kdwartl Island at 18 per cent and other provinces except Alberta and Ontario ranged from 34 to 39 per cent. The statistics were collected and reported under the Corpora- tions and Labor Unions Returns Act. Only corporations with rev- enues of more than or assets of more than arc included. Financial institutions are not included in the statistics. DIVIDENDS PAID OUT The report noted that (oreign- conlroHed corporations with as- sets of mnrc than million each earned 41 per cent of all net book profits but paid only one-third of corporation income taxes. It said corporations in Canada O "Payments abroad by Cana- dian corporations of interest, dividends and business service tecs constitute a substantial and growing clement in Canada's balance of international pay- ments. 'The total of such payments in 1309 represented one Itiird of all services purchased abroad by Canadians and was approximately equal to Can- ada's deficit on non-merchan- dise transactions in that year." More than four-fifths of pay- ments to non-residents were mode by foreign-controlled cor- porations. About 35 per cent of all spend- ing on research and ment made by foreign-con- dents in as dividends, inter- est or business service fees. OTTAWA (CP) bounties. don't get overtime pay, oc- casionally work as much as .iOO horn's n average of more than 70 hours a the Commons was told here. Solicitor-General Jean-Pierre Cover, replying to written questions by Wallace Nesbilt (PC denied, how- ever, that this happens on a regular basis. He said there is no limit on the amount of overtime a con- stable in the RCMP is required to work. "However, no one is expected to work overtime to an extent that would be detrimental (o his health." Mounties may ha given addi- tional time off as compensation for overtime but they don't re- ceive overtime pay. Studies arc under way in several areas o] Canada to determine the amount of extra time they work. Grain prices Winnipeg Grain WINNIPEG (CP) Export- ers were holding back in flax- seed at midsession of the Win- nipeg Grain Exchange today, lowering prices more than two cents in all futures. Trading was light. Rapesced had some small ex- porter buying on declines of more than one cent in some futures. Trading was moderate. Feed grains had a steady routine trade. Volume of trade Tuesday in- cluded bushels of flax, of rye and of rapesecd. Mid-session prices: Flax: May 2Vz lower 2.7314; July lower Oct. lower Nov. unchanged 2.75. Rapesecd Vancouver: March unchanged 2.5GV2; June lower .S4Ti; Sep. Hfc lower ov. lower 2.5QU. Rapeseed Thunder Bay: May lower July 1 lower Oct. lower not open. Oats: May unchanged 6834; Tuly unchanged G9; Oct, not open. Barley: May unchanged July unchanged Oct. not open. Rye: May higher July lower Oct. low- er 99. WINNIPEG (CP1 Gra in quotes Tuesday (basis Lake- High Low Close Flax May Til- Jiy 275 Oct Nov Rapeseed Vancouver Mfir 200 25G1.-' Jim 258 255', a Nov Kapcsecil Tluimlcr Bay May I Jly 245-1. Oct Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dohcrty, McCiiaig Limited) LAST BID OR SALE a.m. Quotes) WESTERN OILS Atmirex 5.75 Alia East Gas Asamera Ashliind BP Oil Gas Can Soulh Cdn Fx Ga? Cdn Hamcsld CUn Ind Ges Oil Cdn Super ChsrJer Chicflan a.m. Quales) 20.00 1J.GO 3.95 8.50 Husky Oil B Husky Oil War Inter Prov F'Ipe Infer Prov Sfci Kaiser Res MGF Manage Pacific Pete Rainier id we 11 Toredyne Wesl Cdn Seed White Yukon Wei Hi eld CALGARY a.m. W.ut Gr. Fd 5.8-1 6.53 Nat Res N-W. Fin H.W. Gr, Prin Gr. Royfund 33.e7Vj Temp Gr. 7V] United Ace 9.75 395 A.tO .50 IS. Beef futures WINNIPEG (CP) Live beef futures close Tuesday. Mar 35.70; May 3-1.45; Jly 33.93N. Monday's volume: 14 con trncls. DDL.. ______ Gf Plains 33.00 Barons Oi! .t Gl Cdn OH 5.95 Madison .1 Lochlel 1.56 Worth Cent .C North Cdn Oil 6.10 West Warner Numec 1J.50 PIPE LINE STOCKS Pancdn Pete 16-75 Alii Gas A Pan Ocean 135t> Alia Gas Pfd Petrol l.SO Alfa N'at Pinnacle -J7 Inland Nat Gas Place Gai 1 10 tl and C Gas Ponder .63 N and C B Ranger !0.50 Pacific Trans Scurry Rain 16.87Vi Gaz MeJro Scocner 1.05 Gaz Metro A 9.6? Trans Cda 4.90 Trans Cda B 1 55 Trans Cda A 6 Trans Cda War 11.37W wc Trans WC Trans MUTUAL FUNDS Af Cdn Com R.5? 9.7J 5.75 AH Cdn Dlv 9.95 10.87 All Cdn. Vrn Amr. Gr Fd. 7.56 8.26 5.03 5.53 4.25 6.67 4.89 5.37 6 70 6.57 7.18 m 5.52 4.07 ngs a.lfi B.9? Vnnguafd 1176 12.B9 Common Vert 7.35 8.08 VANCOUVER. MINES Artie Mining .11 AnuX .16 Alias Hxplor .60 BalhuiirsI Norse 1.23 Brycon Chtirchiil Cop Croyden 78.12V3 Dankce 2-i.W Dolly Varden Dynasty Reliance Mascot ,'J? Stibens Total Ulsler W. DccaHa Weft MISCELLAMEOUS INDUSTRIES Aquatalne Brtnco Cdn Brew A Cdn Brew D Cdn Pacific Inv Crowsnest fnd Cygnifs A Cyqnus B Falcon Copper A. 25 70.50 47.35 ps Cop Mlra 70.25 li.OO Pyramid Silver Sfd. Texmont Tofan Valley Copper West Res. INDUSTRIALS the company, but were file with the department under new laws requiring all Canadia firms to disclose their state ments c-f assets and liabilities income, source and use o funds. CHURCH ON WHFKUS DUBLIN (AP) Rev. ert Dunlop, a Baptist preacher, has a 4Oseat churclimobile complete with Gothic coach- work, a pulpit and a foldaway spire (or serving the remoto parts of his parish. NW INVESTMENTS LTD. NW EQUITY FUND LTD. NW GROWTH FUND LTD. NW FINANCIAL FUND LTD. For a conFidenlial dfscutsion call or wrile DICK BATEMAN, 609 TO St. S., Lethbridge Ph. 327-5137 elections ruled invalid GRANDE PRAIRIE (CP) Tfio elections of two council- lors to the county of Grande Prairie council declared invalid. Judge S. V. Lcgg said dopuly returning officers didn't initial the reverse sides of some bal- lots in the Nov. 24, 1971 elec- tion. The new elections are expect- ed be held in alxmt six weeks. The councillors, Bill Boyd and Allan Drysdale, will retain their seals until then. Coke company sales higher ATLANTA, Gn. (AP) Tl Coca-Cola Co. announced Moi clay record sales and earning for 1971 and an increase in th quarterly dividend rale. Board Chairman J, Paul Au tin said sales increased to record SI.7 billion, an eight-pc cenl increase over (he 1970 sal of billion. Austin also said Ihe board directors approved an increas in the quarterly dividend to 4 cents a share from the previoi rate of 3912 cents a share, O an annual basis, the new div rtcml amounts to a shar compared with the 1971 amou: of SI.58. The consolidated net profit r ported by the cmopany for 197 after reserves, taxes and oth charges, amounted to million, an increase from the S14C.8 million reported in W70. any years (o be falal. it is loo to say if the vitamin dcp- vation treatment is a cure, ey said. Polycythemia vera Is a riis- se in which the bone marrow oduces an abnormal amount red blood cells. It also in- eases production ot white ood cells and Wood platelets, licb are necessary for clot- ng, the researchers said. With abnormally (hick blood, e patient has abnormal bleed- g and clotting, headaches, diz- ncss and other symptoms. ISKS HIGH The patient has a high risk o! eveloping leukemia, doctors ly. He may also die of a roke, heart attack or other (implications. Because the ause of death may finally be tU-ibiited to something else, octors are not certain how idespread polycythemia vera Dr. Frank Smith, assistant rofessor of pharmacology and icdieine, isease eukemia estimated that the less common than and appears most ommonly in middle -aged urdes. Lane said up to now treat- ment consisted of periodically emoving hlood from the patient ir of administering potent anti- iancer drugs, which may have erious side effects and lose heir effectiveness with time. Neither stopped tha disease irocess. The vitamin deficiency treat ment is used only once, for rcm four to six weeks, tlie doc- ors said. owned firms performing re- search and development in Can- ada was due largely to several large government contracts for research and development ia the defence field. "Most of the firms in Canada with the capabilities required for such, work for subsidiaries of foreign companies." The report snid net book profits of foreign-controlled cor- porations increased by 11 per cent in 19G9 (o S-1G76 billion, vhile profils ol private Canndi- an-cnntrolled corporations in- creased only five per cent to J3.29 billion. Profits of govern- ment-controlled corporations 'ell 16 per cent to million. "The relative importance of roreign-controlled corporations n Canada, measured in terms of assets, was practically un- changed in 19G9 as Canadian- and foreign-controlled corpora- tions expanded their assets at comparable rales." Giant foreign-controlled cor- porations dominated areas ol foreign control. Of all foreign- controlled assets in the manu- facturing sector, 72 per cent be- longed to corporations with as- sets of million each or more. Much of this came in the fivo largest manufacturing indus- tries. The petroleum and coal prod- ucts industry was 09.5 per cent foreign owned controlled, trans- port equipment 86.4 per cent, paper and allied industries 39.9 per cent, primary metals 44.1 per cent, and chemicals 80.5 per cent. WATCH! SEASON" Military planes over Alberta WINNIPEG (CP) Military aircraft will overfly cilios and towns in parts of Alberta, Sas- katchewan, Manitoba, Ontario and the northccntral United States March 15-17 as part of a j training exercise to give North American Air Defence Com- mand (NORAD) units addition- al training in procedures for battling enemy air attacks, TONIGHT GOOD LOOKING CFCN TELEVISION ;