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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 19, 1973, Lethbridge, Alberta 20 IETHBRIDGE HERALD Mcndov, March 19. 1973 Industrials dip in TSE fradiiu TORONTO (CP) Industrial issues on the Toronto stock market turned lower after post- ing modest gains early in the session while other sectors re- mained firm in moderate mid- session trading today. The industrial index, consid- ered a prime indicator of mar- ket direction, was oft .'.19 to 224.70. Golds were up 1.0-1 to 222.76, base metals .05 to 102.37 ajicl western oils .10 to 253.36. Volume by 11' a.m. was 000 shares, down from at the same time Friday. Advances held a slim lead over declines, 124 to 120, with 181 issues unchanged. Banking, industrial mining, pipeline, trust and loan and util- ity issues dipped lower while beverage, merchandising, real eslate and general manufac- turing stocks edged fractionally higher. Donlee Manufacturing was down IV'i to Consumer.1 Distributing Is to S31Vi, Rank to Denison V. to 53-Hi an new home. The equipment can handle six-inch thick Iree up to about 18 feeHall. Partners in the new company include Irvin Leishner, president, Harry Hubbard, vice-president and Glen Hubbard, secretary-treasur- er. All are local men. >ipeline ase to be ccelerated WASHINGTON (AP) The (VSu'uos Supitrme Court to- y granted a federal govern- cat request to speed its con- deration of a lower-court rul- that blocked construction of e trans-Alaska pipeline. Tlie supr erne court agree d thout comment that the fcedule for filing papers in the ase be accelerated. Left unde- dwl for the time being was ie second step of tbe govcrn- ;ent request which asked the oiirt to hear and decide the ase this term. Normally, a petition for re- brought to the supreme curt at this point in the term ouki be heard next fall or win- ;r if accepted by the court. Tie government asked that the ase be heard in raid-May and ceicled before the term ends, rchably in June. The federal government, the tate of Alaska and a ion- ortium. of oil companies arc hallenging the decision of the I.S. Circuit Court here which ilcckcd construction of the >ipeline because a wider right- if-way over public land >s required than is allowed by edei'al law. The circuit court did not ad- d rc-ss t hs 1 arger qnestio n of vhelher the environmental im- >act statement prepared by the nterior department in issuing a permit to build the pipeline 'rom Alaska's North Slope sat- sfied the requirements of the National Environmental Policy Act of 1969. The supreme court has been asked to decide this question as well as the right-of-way issue. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doberty, McCuaig Ijmited) LAST BID OR SALE a.m. Quotti) f o.m. Quotes) a.m. Quotes) WESTERN OILS AND MINES Alia East Gas Ind inex Asa m era Mhland DP Canada Brenda Mine) Can Soufh Cdn Ex Gas Ccfn Momestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chleftan Dome Pete Dynasty Pert Reliance Giant Mascot Granisle GF Plains Gt can oir s Lothltl Lytlon Min Noble Mines Norfh Cdn Numac Panndn Pete Pan Ocean Petrol FMnnacfe Piece Gas Ponder Ranger Oil Scurry Rain Selbens Spconer Total Pete Ulster Wast Pete W, DccaUa 9.70 6.05 T1.75 1-i.M nd fA JSt J.OO T2.1S stai Home A Home B Hud Bay CD Hud Bay Oil Hud Bay A Pld Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E War 7.75 75 1 58.00 J4.35 21.00 7.00 8.70 AGF Special Cdn Invest Inter Pipe IrUer Prov Sleel 14.75 Kaiser Res 2.85 Lob'aw C Pfti 30.50 Ma q n awnics 1-1.00 Pacific Pftto PVV Air 9.75 33.50 2.90 1.30 Inc 11.00 5-8' 1S.EO 17.36 -1-57 Venl .8.16 B.91 Corp Invest 6.43 7.0; Corp In St P A.O1 Dreyfus F U.S 12.18 Great Pacific 4.93 5.4, Gr in Shares 4.53 -i.7 Gr Equity 8.TO 9.7; Invast Gr F Invest Mutual Mutual Ac Alulual Gr F Nat Res N.W. Cdn N Gr Principal Gr Temp G r United Ac Universal Sav Univtst 12.94 1J.V A.03 6.37 7.00 4.01 44 S.9! 5.77 6.3 J 01 4.41 5.11 5.41 7.13 7.4! 9.5? 1.09 B.5Q 5.55 MISCELLANEOUS INDUSTRIES Acres L1d Aquitaine BC Sugar Pfd Royal Trust a St Maurice Cap 1.15 5 Sandweli 4.iS 2Va Teledyne 4.ES 0 West Cdn Seed 6.12V 0 Weatiield Min 1.42 0 A Pfd 63.0O ,1 Yukon 14.25 i-! PtPE LINE STOCKS ;B Alia Gas A 16.63! Alta Gas Pfd 71.00 17Vj Alta Nat Gas 21.37! fl fnland Nat Gas i7 fj and C Gas 11.671 ID N and C B Pfd 24.37! Pacific Trans 12.12' Gaz Metro Gaz Meiro A Tr Ctfa Pipe Tr Cda A Pfd Tr Cda B Pfd, Tr Cda War VVC Trans WC Trans .70 .31 7.4S 8.1 CALGARY Acroll Oil North Conlinental Warner VANCOUVER MINES Alien Atlas Explor BaJh Norse Danfccc 2 Davenport Dolly Vdrden Equilorial Res Primer pyre ,CA 1.35 .23 Cdn Brew A Cdn Brew B Cdn Pacific rnv Crestbroek I nd 5.00 67.00 Sa.HVi Valley Copper _ _ 71.50 INDUSTRIAL H.50 Tr Cda B Pfd, Cap! Inter 2.500 26.75 Tr Cda War 9.50 Col Bre.v 3.70 15.00 WC Trans 21.10 Hys Cd n 3.15 WC Trans 5.00 Key Indust 5.75 MUTUAL FJNDS OILS All Cdn Com 7.92 8.64 Albany Oils 1.3 31.00 All Cdn Divict 8.54 Plains Pelc .2 30.50 All CtJn Vent 4.25 Stampede InH Res .6 9.12V? Amr Gr F Explor .W Toronto mines, industrials (Supplied By Ricbsrrtson Securities of Canada) LAST BID OR SALE r.m. ouole Grain prices Winnipeg grain WINNIPEG (CP) All com- loditics were off previous lose levels at mid-session on he Winnipeg Commodity Ex- hange today. Flax and rapeseed prices all vere down the daily maximum of 10 cents in a dull volume of rade. Oats and barley fell frac- ionally to three cents while rye traded moderately on a scale-down price pattern. Friday's volume o[ trade was bushels of flax, of rapeseed and of rye. Mid-session prices: Flax: May 10 lower July 10 lower 4.48A; Ocl. 10 lower 4.28A; Nov. 10 lower 4.21A. Jtapeseed Vancouver: March lower 3.70A; June 10 lower Sep. 10 lower 3.64A; Nov. 10 lower 3.-1SA. Rapesecd Thunder Bay: May 10 lower 3.4ZA; July 10 lower Oct. 10 lower 3.35A; Nov. 10 lower 3.19A. Oats: May vs lower July 2Vi lower Oct. lower Dec. unchanged I.05A. Barley: May Mi lower 1.4514A; July 2Vi lower Oct. 2'A lower Dec. lower I.47A. Rye: May K lower July 2'A lower 1.-1CB; Del. ZVi a Mackenzie Valley o i 1 route, the Canadian government should agree to the proposal, says Resources Minister Donald j Macdt-nald. "I think the interests of the West Coast would dictate that the government of Canada should enable that kind of appli- cation to go Mr. Macdonald was inter- viewed in Ottawa on the CTV program Question Period, which is broadcast Sundays.' He said the United States in- formed Canada "a year ago this month" that it was not in- terested in any Canadian al- ternative to the Trans-Alaska pipeline route. The U.S. course has caused consternation in British Colum- bia since it would require ship- ments of oil by tanker down the B.C. coast to the U.S. mainland, CHANGED POSITION "What's new in a year is that the Alaska pipeline application has run into trouble in the United States and some of the opponents of it now are review- ing the possibility of a Canadian the minister said. He said, the U.S. might decide o ship its oil over Canadiar .erritory. Mr. Macdonald repeated ear iicr statements made about th Yukon Valley pipeline propose in Washington recently by B.C Premier David Barrett. He said there is no indicalio that environmental effect feasibility studies have bee carried oul to support the prt posal. It took two years carry out such studies for tl proposed Mackenzie Valle route. Premier Barrett envisages trans-Yukon railroad to can oil from Prudhoe Bay, Aiask to Lower Post, B.C., fro where it would be ssnt via derground pipeline to the U. mainland. Estimated cost of t project is billion. "I feel that if you're going lend billion, (Canada mre) it might lie a good id take a look at what you' oing to spend it on before y "rite the Mr. aid said. 0 SERVE CANADA He said he favors a Mack- nzie Valley route for shipment f oil and gas because it could venltially serve oil and gas de- lower 1.41; I.4U4A. Dec. I'.u lower Bull sale Perlich Eros. Auction Market at Lethbridge was filled lo ca- pacity by stockmen lor their annual ail Iveed hull sale. Forty-six Hereford bulls averaged The high selling bull was consigned by Miller of Lethbridge ar.d sold to J. Schnieder of Ir- vine for ,425.00. Three Shorthorns averaged S90EJ with an K. D. entry of Mountain View selling for to the Sheen Ranch of Cartlston. Jorgenson Eras, of Del Tio- nita topped the Charolais scc- ,ion at for their 2-year- old which was purchased by Ilenrickson Bros. of Lomond. The 10 yearlings and 2-year-old Charolais bulls averaged 115.00. There were U Angus bulk sold for an average of most of which were yearlings. James Manlier sold the high selling Angus to Elmer C. Con- rad Ltd. of Taber for Top quality bulls in all breeds were very much in de- mand. a.m. Quotes) MINES BHhleliem Brunswick Can. Land a.m. Quotes) Oiisfco Pine Pcinh Placer P.C. Exp. Quebec Man Rayrock .32 Cafclo Pat, Chi mo Ramtler Coin Lake Cecil en :'jr Craigrr.or.r Dickon son Mines Den is co Mines Oes Horr 1.21 3.50 7.15 130 3-1.50 Tfck Corp. 30. CO 3.15 37.75 G.tO 16.S7V 2.00 G rend die Grt Cdn Oil Gsn Motors Grcaf Lakes Pp Gulf Gil Cda Greyiicund Sid Erie >nt Upper 5.70 Wright Hargreavc: 1.15 Wiliroy 1.15 Windlall Bear 7e.Tinae .03 INDUSTRIALS Imp OJ1 Iniasca Inr Mickci 11.75 fi.70 72.75 42.50 33.00 1U5 Int UtJI Acce Kaps Dcnald-i Discovery Mines fiasl Malarlic Ea5l Sullivan Falecnbntfgo Gra.-iduc Hclllnyer 3.JO R.C. For 11.75 .13.75 21.121, 56.75 19.25 .ly.'t CAE ISO Bay Kelly Oaug A McMillan Bi Mcoro Corp Me I sons A D Ncrlh Ce Pcwer Ccrp Price Co Rothmans St. Law Ccr Shrlf CDA i Simpson's Eimp Jcliel Out-hoc Kerr Add-on Key Lafcrddcr Lake Shore Larujls Silver R.L. War'rin "iV.cNealy W.aclntyre Nu Wfrit Homts Alnona .12 Calumet Horse Copper 3.95 2.50 Cdn Inci Dollar Value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was up 1-50 at SO.DO 13-2.1. Pound sterling up one cent at 32.45 9-15. In Now York, the Canadian dollar was down 1-50 at 7- Pound sterling up 19-20 at 1-20. Dlsl Dom Bridgo Don.ler Dim ToxNIe Dom Sfnroj Dome Pole DoFasco Pp Pp z West en's B A j Cdn 7cniJh Elec BANKS Cdn Imo 52.50 27. JO 11.50 19 50 31.37', 39.M 2D.S1 17, CO 31. iO 30-CO New York stocks (Supplied By Richardson Sccnrlllcs of Canadi) Amr T ard T An a tonrio Beth steel msaf 51.50 XRon 27.75 Texas Gulf 33.75 Texas Co 57.SO VJickes Corp 1W.7S 2fl Gold', 2W.I! up 10 Base TAet 102.03 o1f .29 W.25 15 W Oils ? off 37.671'? Vclumfi YORK AVERAGE Elec U.7S y> Indus) 954.SS cff Gulf 25.75 U.S. Sl.Witt Rails 193.M cf .51 Int 3-1.00 Gen Tel Elec Ulililies lM.7i off .33 Kenn Ccppcf 27.37Vj TORONTO AVERAGES i5 Slocks off Monfflomery Ward 20 Indysf off .87 Voluma Macleod Livestock FORT offer t Fort JUaeleod Aiiction Mar- c-t were cattle and calves or the week. Good demand on all classes f slaughter and feeder catUc ath choice dry feil stcors re- nained fully steady with ihoice heifers higher. Choice steers 41 to choice heifers 3D.75 to 40.50; ;ood MWS 31.EO to 3n.90; ma- lium cows to 33; good bol- ogna hulls lo 39.30. Good short keep steers (900 i I.OUO pounds) 42 to -H.20; Rood short heap heifers to J25 pounds) to S9V "rjsd .steers (G50 (o 825 pounds) 43 to (500 to GOO 10'jrc's) .10 to 54.80; (401) lo 503 icunds) S5 to 5R. Good heifers (RCO to 700 pounds) 3fl (o 41; (475 to pounds) (o 5J.OO. At Highway 52: choice steers (o 42.70; choice heifers 40.30 to 40.70. Calgary livestock CALGARY fCTM Hrrx-ipts lo Jl a.m. today from the Cal- jary public s'oekyards show sales of 120 head, jnos tly s) sople be deflected from seek- ng a higher standard of living? Can a blind faith in the mir- cles of technology h e sus- ained? H. Ronald Eraser, president E Anglo American Corp. of Canada Ltd., told the Prospec- ors and Developers Association ast week: 'I have faith in posterity. I hink it will cope with ils prob- ems by providing the technical [rowth to meet iU demands." "The dismal scientists have invariably been wrong because they have always underrated man's ingenuity, at least in the field of the extractive in- dustries." Herman Kahn, director of Ihe Hudson Institute in the told a Toronto audience Thurs- day: 'With current technology we can deal with any problem. There are, however, a number of problems we do not take se- riously and there could be some we do not know about." There is only one viable al- ternative, says the Canadian Imperial Bank of Commerce letter. "Subject our activities to the kind of management and con- .rol that will enable us to avoid he major risks to Ihe environ- ment and realize t he benefits our command of science and technology now makes possible, "In effect, economic growth josits in the Canadian North as ,vell as in Alaska, The Yukon route would only serve Alaska, he said, Tlie government, he s aid, vould be inclined to refuse the J.S. access to a Mackenzie Val- ey route were it not for the fareat of oil spills on the West Coast. On the question of Canada's 1 and gas reserves tbe minis er said there is sufficient qiian ity "to meet Canadian needs, certainly for my lifetime." However, Canada will have to maintain a careful balance in between its exports oi ?as and oil and its own needs. VALUE MARGINAL Mr. Alacdonald said Canadian as and oil are of "marginal value" to the U.S. "Canadian oil exports arc about 5 per cent of their demand and gas ex- ports about 7 per cent." Consequently it was no great strain on the U.S. for Canada to limit its exports of oil and gaSj he said. The governmen t hopes to present studies "which would be the basis for establishing a national energy by May. The final policy should be worked out through consultation with the provinces, be said. cannot be stopped, since to do so would be both dangerous and unrealistic. 'At the same time, to relentlessly and mindlessly pur- sue the present course can only lead to disaster." Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided1 by the Alberta Hog Producers Marketing Board. Edmonton: 47.70 averaga Friday 47.69. Red Deer: 47.55 average Friday 47.63. Calgary: 47.55 Friday 47.65. New transportation policy suggested by Lougheed average Lethbridge: No sales aver- age Friday 47.50. Uoydmtnstcr: No sales av- erage Friday nil. Total hogs sold Friday average 47.G8. Sows average 37.20. TORONTO (CP) Alberta Premier Peter Ixxighecd said Sunday that the federal govern- ment could help allevialc West- ern Canadian alienation by es- tablishing a transportation pol- icy "that doesnt penalize areas away from the centres of popu- lation." The premier said on a taped CBC television show there were "all kinds of examples" of how freight rates act against the best interests of Albertans. He said rapcseed producers GM holds price line on cars DETROIT (Renter) Gen- eral Motors will hold the line on prices for the rest of the cur- rent model year, Chairman Richard G. Gerstenberg said to- day. "We will not, unless forced to by major economic events, in- crease the prices of our North American-built cars and trucks for the remainder of this 1973 model he told a news conference. Gerstenberg made no pledge for 1974 models, dua out this I fall. were farther ahead sending their product lo Eastern Can- ada to be made into oil and then sent back to Western Can- ada than to have it processed in Alberta. "Shipments that go oul of To- ronto are cheaper to tb'p to Vancouver than they arc to Ed- monton. We've got to look at what is in the best interest of the total nation and it isn' in the best interest of tlie nation to concentrate tesic growth in highly populated areas." Mr. Lougheed said it was nec- essary to look at the resource areas and see which resources could be processed at the source to spread industrial de- velopment out. You're never too old to hear better Chicago, free offer ot special interest to thoso who licitr but do not understand words lias licon announced by of tlie smallest Beltone aid ever made will he given absolutely free to anyone answering this advertisement. Try it to sec liow it is worn in the privacy of your own home without cost or obligation, of any kind. It's yours to keep, free. It weighs less than a third of an ounce, and it's all at ear level, in one unit. No wires lead from hotly to head. These models are free, so ws suggest you write for yours now. Again, wo repeat, there is no cost, and certainly no obliga- tion. Write to Dept. 5950, Bel- tone Electronics Corp., 4201 W. Victoria, 60646. LIFE INSURANCE _ [Initial Amount) (20-Year 'Decreasing Convertible Term Insurpltre) IT WOUID PAX YOU TO COMPABr. THIS WITH ANY OTHER TERM PIAN- MONTHLY PREMIUMS _ (P.A.C. Plan) Age Age 25-J8.70 Age 40-SI5.74 Aga Age KEN BEISHER OCCIDENTAL LIFE of CALIFORNIA 439A HOLIDAY VILLAGE Ption. 328-0944, 328-0994 ;