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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 9, 1972, Lethbridge, Alberta Ttiuriday, V, THE IHHBRIDOt MMAID 8 Business Cars and credit go together By IRVING C. Canadian Press Husincss Krtilor TORONTO (CP) Cars and credit. They have a lot in com- mon. The big three auto makers in Canada report increased sales during February, some by more than 20 per cent. Consumer credit, meanwhile, also continues to grow, and loans for car purchases arc iak. ing up an ever-larger portion ol Ihc total. "The growth of consumer credit lias been a striking fea- ture of the last 20 years in Can- says (he Canadian Bank- ers' Association. "The amount outstanding per capita in 1950, in I960, in and is estimated at about today." Consumer credit is just what the name implies credit ad- vanced to individuals. That would cover, for instance, the installment purchase of a car or an air conditioner. The chartered banks now are the largest source of such credit, providing about half the total, although (hoy didn't get into the business in a big way until 1954. Revisions to the bank- act that year opened up nevi avenues for the banks. By the end of 1971 the banks had S6.5 billion outstanding in personal loans, accounting for about 31 per cent of the total general loans of the banks. MANY FOR CAHS Automobile Joans are a major field. Says the bankers association: "Although the proportion of con- sumer loans for other purposes is increasing rapidly, loans lo buy cars have risen at the fast- est rate and now constitute more tlian 24 per cent ot the otal. "It is estimated that the banks financed about two-fifths of lotal consumer credit oul standing for motor vehicles n: 1971, compared with only one :ifth in 1961." Indications from another source are that the demand for consumer credit, will continue lo TJie latest survey of consume Buying intentions conducted b> :he Maclean-Hunter Researc! Bureau shows an increadinj numhcr of people planning t purchase cars, homes am major appliances. "Retail sales data from Sta tistics Canada in recent month reveals an upsurge in cousumu spending, especially on durabl goods. Based on what consun ers say they plan to buy in th next six months, the cash regis ters will continue to jingle." F-M Trust Beef futures WfNNIPEG beef futures close Wednesday. MAR 36.00A; MAY-34.40; JLY 33.95N. Tuesday's volume: 16 con- tracts. earmiigs higher CALGARY (CP) Farme and Merchants Trust Co. Lt earned or 72 cents share during the year endi Dec. 31, compared with 021 or 60 cents a share t year before. The company which operates j mostly in Alberia with branch- es in Vancouver and Nassau, had a profit of be- fore interest on deposits and provision for income tax. 'old stocks up other issues dip TORONTO CCP) Gold is- ues on the Toronto stock mar- el edged fractionally higher 'hile prices in other sectors ot Toronto stock market con- .nued their downward slide in low mid-morning trading oday. The industrial index fell .36 lo base metals .24 to and western oils .18 to 224.16. Jolds were up .98 to 175.49. Volume by 11 a.m. was shares, down from at the same lime Wednesday. Declines led advances 121 to 110 with 218 issues unchanged. Beverage, communications, real estate, oil refining, in- dustrial mining and general manufacturing stocks moved .ower. Banking, merchandising, steel and pipeline issues edged fractionally higher. Consumers Distributors fell lo Noranda to In- ternational Utilities to S52V4, Falconbridge Copper VB to Bank ot Nova Scotia to Westcoast Transmission Vs to Massey-Fergiison lo BP Canada Vs to and Falconbridge 1 to Canadian Tire was up Vt ti Dofasco Vi to vt Campbell Red Lake to Ashland Oil Canada to and General Distributors to PRICES Ul> MONTREAL CCP) Prices SMART EXECUTIVES Lease Their Business and Personal Cars BECAUSE Leasing ccin be less expensive than buying O Leasing is time saving and convenient Leasing simplifies your tax records No cash investment required For Ihe complele fads on leasing contact BORIS KORESHENKOV, Leasing and Insurance Rep. BENY AUTOMOTIVE ENTERPRISES LTD. 2nd AVE. nnd 81h STREET t. PHONE 327-3T47 WATCH! SEASON" Medical Centre TONIGHT GOOD LOOKING CPCN TELEVISION vere up in all sectors but in- ustrials in light morning traci- ng on the Montreal stock mar- tet lotlay. Utilities gained .53 to 1G6.91, wnks .42 to 258.24, the compos- te .13 to 205.70 and papers .07 o 39.96. Industrials lost .03 to Livestock market report Calgary livestock CALGARY (CP) The Cal- gary public stockyards report- ed today lighter receipts lo 11 a.m. of 875 head were mostly mixed grades and classes of slaughter cattle. Trade was active. Slaughter steers sold steady with Wed- nesday's prices. Heifers fully steady. Cows ivere mostly nie- dium and canncr kinds with all grades selling 25 lo 50 higher. Bulls were. lower. Choice steers 34.75 to 35.30, good 33.75 to 34.75, medium 32.50 to 33.50. Choice heifers 32.75 to 33.50, good 31.50 to 32.75, medium 29 'to 31.25. Good cows 27 to medium 25.75 to 27, canners and cutters 21 lo 25.50. Good bulls 27.50 to 29. Replacement callle continu- ed to be practically all steers in the heavier weight range. Good two way steers weigh- ing 950 to pounds sold from 34.50 to 35.30. 'Iliere were insufficient stock calves on of- fer early to establish quota- tions. Good feeder steers over 800 pounds. 34.50 lo 36.30. Good feeder heifers 31 to 33.30. Hoys average base price 28.85. Lambs sold higher Wednes- day, Good lambs 26. ANSWERED TUB CALL In the Second World War Can- ada raised the biggest (per cap- ital volunteer army in the his- toi v of the world. Home, 1'ilfield jnconse rises EDMONTON (CP) Home and I'ilfield Foods Ltd, today reported net income of for the 40 weeks ended Jan. 8. 1072, up from in the corresponding period ol the previous year. The increase resulted in B C.2 cent increase per share lo a total of 26.4 cents. Sales increased by mil- lion, compared with mil- lion in Ihc same period of 1971. Combined volume on the Montreal and Canadian stock exchanges was shares, :ompared with at the same time Wednesday. Inland Natural Gas rose Vi to 516, Dofasco Vz to Royal Trust VA to Cominco VI to Simpsons 'A to Brascan to and Alcan Vi tO Noranda lost to Border Chemical 'ii to Wajax to and Union Carbide -li to ACTIVE TRADE NEW YORK (AP) Profit taking, specially in blue chips, restrained the stock market today, leaving prices mixed in active trading. The noon Dow Jones average of 30 industrial stocks was off .75 at 844.84. Among Canadians, Canadian Pacific declined to Mclntyre Porcupine to while Dome Mines advanced to On the American Stock Ex- change, Brascan Ltd. at and Scurry Rainbow Oil at both advanced "4. G ran price review Winnipeg Grain WINNIPEG (CP) All commodities except oats and jarley were on a stronger price pattern at mid-session of he Winnipeg Grain Exchange oday. Trading was moderate, Hapeseed was more than one cent higher on a carry-over trade from a strong Chicago soybean market Wednesday. Flax had small exporter and commission house trade meet- ing light offerings. Rye was slightly stronger, and oats and barley were iteady. Volume of Irade Wednesday included bushels of flax, of rye and of rapeseed. Mid-session prices'. Flax: May higher 2.76 July 1'i higher Oct. Albertaii named to NFU post EDMONTON (CP) Wil- liam Dascavich of Mundare has been named executive as- sistant to the president of the National Farmers Union, it was announced here. Roy Atkinson of Saskatoon, union president, said the ap- pointment was necessary be- cause of the recent illness ol Walter Spak of Edmonton, the u n i o n's regional co-ordinalor for Alberia. Mr. Spak is under doclor'b orders to take an extendec rest and Mr. Dascavich will be responsible for the Alberta re- gion. JOINS BENY'S SALES STAFF f. ALLAN McKACUE Mi. Brenl Ciflpsra! Soles Monager, Beny Chevro- Oldimobila ij pleosecf fo announce lho1 Allan McKague joined I heir sales slaff. Aflan has just recently moved here from Moose Jaw, Sask. He has spent hii entire adult life in Ihe salet field. He is o married man with boys, Alton welcomes ihe mo lor ing public fo see him ot Bcny's if ihey are fhinV- fng of buying either a new or used cor or truck. He will be most hoppy 10 ossisf them fn onv Toronto mines, industrials (Supplied By Kifhurdson Securities ol Canada) LAST BID OR SALE A.m. Quotes) MINES Acme .1 Advocate Aitj. Akarlcho 5 Oralorne i Broulan .1 Bclhlchsm 51. 7 Brunswick 3.' Canada liglier Nov. unchanged Hapeseed Vancouver: Marct higher June 3 high ;r Sep. highc !.583i; Nov. higher 2.59. Rapeseed Thunder Bay: Ma; Vi higher 2.49; July high ;r Oct. Hi highe Nov. unchanged 2.47. Oats: May unchanged 68-l'i July unchanged 69; Oct. )pen. Barley: "May unchanget 1.0914; July and Oct. not open. Rye: May higher July higher 93Vi; Oct. higher WINNIPEG (CP) Grain quotes Wednesday (basis Lake- High Low Close .Flax May 275li 275 Jly 272V2 270V4 272 Oct 2745s Nov 273% Rapeseed Vancouver Mar 259 25GV4 259 Jim 2573i 254V4 Sep 258 Vz 255 258 li Nov 257-Vi 256 257-% Rapeseed Thunder Bay May 243 247-Vj, Jly 24734 Oci 245'z Nov-------------------- 247 Oats May 68Vi Jly------------------ Oct 7d Barley May lOO'.i Hiyi.'j Jly Oct------------------ Rye May 102U lOHi 102 Jly 971s 977s Oct 98Js By Gene Fawcelte ELIMINATION OF CORROSION AMP SCALE IN WATER SYSTEMS 15 THE NEAR-MAGIC WORK OF PIPE-LIKE DEVICE 1NSTAUED IN THE WATER LINE. IT STOPS DEPO- SITION OF CAIC1UM CARBONATE, HYDROGEN AND IRON SUlFIOK, I FREE SULFUR ANDS4LT, AND INHIBITS ALGAE iSiar Central Pnt. Chimo Conwest Cons. Rambler Lake Cralgmont Dlckenion Wins Denisos Mines Detr Horn D'Eldona _ _ e Wines Dona Ida Discovery Mines East Matarlic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Bovi; Grand uc Headway R.L. Hudson Bay rA-S Hydra Ex. Iron Bay ISO Joliet Quebec Kerr Addijon Key Anacon Labrador Lakr. Shore Lanpjs Silver Madsen R.L. Malartlc G F. Martin McNecly Maclntyre Mcta Mirfrim Intern Mogul New West Home Hew Afhwia New Calumet w. Horse Copper Noranda No ring ate Norlex 1.26 S.lff 1.95 Oslako Fine Point Placer Dcv. P.C. Exp. Quebw: Man Ray reck Radiore Rio Algom Roman Covp Sherritf Gcfdc Silver Miller Steep Roc'< Tek Corp. Texmcnf Upper V.'csltrn Mine Windfall 8C< INDUSTRIALS AbHIbi Mean 1 Algoma Slcel Atco Ind Allan Suoar Agra Ind Bell Tel zil Trar '11-00 a.n- Cablo Lakes Pap Gulf Oil Cda Greyhound 1 Hawker srd Huron, Eric Hiram' Walk 32 lnt Wicket jiOS Inl Pipe el 'nv Cip Inl Uiiliiies A 7d Indus! Accept .tSVi Kcllv Doug A Locb A Massey Ferg MtMltPan WOT re Cc 25.? B.C. Tel Burns B.C. Forei! B.C. Sugar Bow Valley CAE Ind Brew Chemcell Col Cellulose Cal Power C.W.N. Gas. Cdn Indusl Cdn Marconi Cdn Vickeo Ctirysler CPR Cominco Bath Cons Gas Cdn W N Gas 9- Disl Sea Dollar 1.1.75 11.621 11.87'.2 B J6.DO North. Cenl ?1 PC'.vcr Corp Price Cn Hoe bi 20.75 32.75 7. DO a. so 5 SO 2.2G 74.75 11.25 SI Law Corp Shell CDA Simp Sears Slcel of Can Selkirk A Texaco Traders Gp A Trflns Can Pipe Doi Doni Stores 33 75 15. GO It.OO 9.00 19.f2Vi 72.00 16-50 .12-50 Uni B Woodwa Wesl Cdn Sd Zenilh Elet: BANKS Cen imperial No Scotia 19.25 1.65 23.50 33.m'3 22.75 35.371'; 32.HV3 9.75 19.25 13.00 6.12V; 3.75 1J.PO 27.00 -12.25 2 3.37 V 24.00 15.00 9.00 8.10 19.00 ?5.75 35.00 30.75 20-50 45.25 17.25 1-1.00 S.42' 16.2S 17.57' 28.00 5.50 36.37', 70 75 35.50 Neiv York stocks (Supplied By Richardson Securities ol Canada) Chrysler TORONTO AVERAGES NEW YORK AVERAGE General Molori 20 Ind 203.61 cli .91 30 Ind off 75 Gulf Std Oif 27 fflV'i m Golds up 10 UP -M OF H.J. 76.00 S S K-Sl JO frS Slocks c-If ,11 Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherly, Limited) LAST BID OR SALE a.m. Quotes) WESTERN UILS a-1 Hud Bay Oil Pld HuSrl RUSCCII HtMy Oil HuvVy Oif B Husky Oil Inltr PJ-OV Pipt Inler Prov iteel Kaiser Res Pacllic cjuofesl 53.00 76.75 Gl Cdn Oil Lochipl 41.75 .70 5.15 9.40 32 50 33 CD 6.30 1.55 6.0i Riir ,ell Telcdync West Cdn While Yuk< Westfield CALGARY Acroll Barcns Oil 33-871. 5.00 5.W, 13.7S 1.50 .54 a.m, (nv Gr Fd Inv Mutual Mu1 Accum Mui Gr Fd Nat Kes tnv Finance Roylund Tei..p Gr Accui I3.M j.er Ji.jf 4.70 Uni vings Vanquaj-d Comrn Venf Unives! VANCOUV MIMES 14.75 Ncrth ".02 PIPE LINE STOCKS Bath Plate; Gas Pcndtr Ranger Srurry Rain Suocner 1.05 75 Tctnl Ulsler W, Decalla d -is West Pete 11.75 MISCELLANEOUS INDUSTRIES Aqualaine 2J.JO Gas Alfa Gas Pfd Inland Nat Gas N and C Gas N and C G.IS B 21 CO Pac Gas Trans 17.13Vj C-az A 1.05 Trans Cda Pipe 9 75 Cda B 1.07 43 55.25 78.12! "2 15.7S 15.00 30.00 13.00 70.25 1.00 Brenda Bryeon Church Copper Croyde-i DolJy Varcfen Dy rusty f Gronisle 1orncx cor Cdn Brew A Cdn Brew B Cdn Pacilic Inv Ind Cysnus A B Falter. Copper Gcnslar He -nc A Hornc B Hud Bay Ci Hud Bay OH i 78 f 0 a War l3.87Vi L-viIci 30.62Vs Primer _____ ID.SO MUTUAL FUMDS Sjl Stan PatUic 5.17 5 6r. Toxmcn! Cdi Com 8.9rS 9.79 Troian ,.62'3 All Cdn Divl 10.93 Valley Copper AmeCrdGrVFd ALS Fund B-C. Sugai Mu) 7 04 7 75 B.C. Sugar 1 v.u.......filer '6.73 Cap Inter Comm Lev 3.99 -S.35 Crest Fores! Core Invest 6.14 6.73 Mariner 3- Corp In St Fd 5.76 5.75 Pac Wesl Air I Fd U.S. 13.5-! U.SJ 5'3rn Inl'l Rrj Gr In Shares .i.i7 OILS "1300" Gr 7.39 S.I3 Plains Pele F.SD 10.75 I 96 27.75 32.M 6J5 WC AGF SpPt Cdn COH 1003 4111 Avenue 5., lelhbridge Telephona 328-4426 a t a i i'' Easy Choice. LAST CHANCE! LAS VEGAS TOUR March 20-26 Conluct: STEVE KOTCH< Phons 327-3536 FIVE STAR CANADIAN RYB WHISKY 1 i JOSEPHE. SEASnAH A SONS LIMITED WATEHLOO. ONTARIO. CANADA t 25 OZ. The smooth taste of quality that is unmistakably Seagram's. Seagram's FIVE STAR Canada's largest-selling rye whisky. Blended and boukd by Joseph E. Seagram Sons Waiccloo, ;